FORM 13F COVER PAGE

"Report for the Calendar Year or Quarter Ended: September 30, 2001"

Check here if Amendment [ x  ]; Amendment Number:
This Amendment (Check only one.):  [  x  ]  is a restatement.
                                   [    ] adds new holdings entries.

Institutional Investment Manager Filing this Report:

Name:     	CNA Financial Corporation
Address:	CNA Plaza
	"Chicago, Il 60685"


13F File Number:  28-346

The institutional investment manager filing this report and the
person by whom it is signed hereby represent that the person
"signing the report is authorized to submit it, that all"
"information contained herein is true, correct, and complete, and"
"that it is understood that all required items, statements,"
"schedules, lists, and tables, are considered integral parts of"
this form.


Person Signing this Report on Behalf of Reporting Manager:

Name: Lynne Gugenheim
Title:  Group Vice President and Deputy General Counsel
Phone: (312) 822 4921
"Signature, Place, and Date of Signing:"
"November 5, 2001"
"Chicago, Illinois,  "
Report Type (Check only one.):

 [  X ]              13F HOLDINGS REPORT.

 [    ]              13F NOTICE.

 [    ]              13F COMBINATION REPORT.

List of Other Managers Reporting for this Manager:

I AM SIGNING THIS REPORT AS REQUIRED BY THE SECURITIES EXCHANGE
ACT OF 1934
<Page>

Loews Corporation also has investment discretion
over the securities reported on herein by
"CNA Financial Corportion, Continental Assurance Company,
Continental Casualty Company,"
and The Continental Corporation.  Loews Corporation will
report separately on securities over
which it has investment discretion which are not
part of such holdings.

<Page>
<Table>
<S>
<C>



			 FORM 13F INFORMATION TABLE
			 VALUE 	OTHER	 SHARES/ 	SH/	PUT/	 INVSTMT 	 VOTING AUTHORITY
NAME OF ISSUER	TITLE OF CLASS	CUSIP	 (x1000) 	MANAGERS	 PRN AMT 	PRN	CALL	 DSCRETN 	 SOLE 	SHARED	NONE
ACCENTURE LTD-CL A	CL A	G1150G111	" 6,279.4 "	"2,3"	" 492,500 "	SH		DEFINED	" 492,500 "	0	0
ACME COMMUNICATIONS INC	COM	004631107	" 3,028.2 "	"1,2,3"	" 432,595 "	SH		DEFINED	" 432,595 "	0	0
ADELPHIA COMMUNICATIONS-CL A	CL A	006848105	" 8,880.0 "	"2,3"	" 400,000 "	SH		DEFINED	" 400,000 "	0	0
AETNA INC	COM	00817Y108	" 10,279.1 "	"2,3"	" 355,800 "	SH		DEFINED	" 355,800 "	0	0
AFFIL COMPUTER	SUB NT CV 3.5%06	008190AF7	" 2,784.0 "	"1,3"	" 2,400,000 "	PRN		DEFINED
AFFILIATED COMPUTER SVCS-A	CL A	008190100	" 1,465.4 "	"1,3"	" 18,000 "	SH		DEFINED	" 18,000 "	0	0
AGCO CORP	COM	001084102	" 4,039.0 "	"2,3"	" 446,300 "	SH		DEFINED	" 446,300 "	0	0
AGERE SYSTEMS INC-A	CL A	00845V100	 517.5 	"2,3"	" 125,000 "	SH		DEFINED	" 125,000 "	0	0
AIR PRODUCTS & CHEMICAL                 	COM	009158106	 964.5 	"2,3"	" 25,000 "	SH		DEFINED	" 25,000 "	0	0
AK STEEL HOLDING CORP	COM	001547108	" 2,524.9 "	"2,3"	" 298,800 "	SH		DEFINED	" 298,800 "	0	0
AKAMAI TECHNOLOGIES	COM	00971T101	 87.3 	"2,3"	" 30,000 "	SH		DEFINED	" 30,000 "	0	0
ALCAN INC	COM	013716105	 600.0 	3	" 20,000 "	SH		DEFINED	" 20,000 "	0	0
ALCOA INC	COM	013817101	" 7,628.5 "	"1,2,3"	" 246,000 "	SH		DEFINED	" 246,000 "	0	0
ALLEGHENY ENERGY INC	COM	017361106	" 1,148.7 "	"2,3"	" 31,300 "	SH		DEFINED	" 31,300 "	0	0
ALLMERICA FINANCIAL CORP	COM	019754100	 672.8 	"2,3"	" 15,000 "	SH		DEFINED	" 15,000 "	0	0
ALLTEL CORP	COM	020039103	" 9,011.2 "	"2,3"	" 155,500 "	SH		DEFINED	" 155,500 "	0	0
ALPHARMA INC	SR SB NT CV 3%06	020813AD3	" 1,385.1 "	"1,3"	" 1,250,000 "	PRN		DEFINED
ALPHARMA INC-CL A	CL A	020813101	 853.6 	"1,3"	" 29,640 "	SH		DEFINED	" 29,640 "	0	0
AMBAC FINANCIAL GROUP INC	COM	023139108	" 4,923.9 "	"2,3"	" 90,000 "	SH		DEFINED	" 90,000 "	0	0
AMERADA HESS                            	COM	023551104	" 6,985.0 "	"2,3"	" 110,000 "	SH		DEFINED	" 110,000 "	0	0
AMERICA WEST HOLDINGS	CL B	023657208	 20.0 	3	" 10,825 "	SH		DEFINED	" 10,825 "	0	0
AMERICAN EXPRESS                        	COM	025816109	" 9,113.2 "	"1,2,3"	" 313,600 "	SH		DEFINED	" 313,600 "	0	0
AMERICAN INTL GROUP INC	COM	026874107	" 3,797.8 "	"1,2,3"	" 48,690 "	SH		DEFINED	" 48,690 "	0	0
AMERICAN NATIONAL INSURANCE	COM	028591105	 109.4 	3	" 1,350 "	SH		DEFINED	" 1,350 "	0	0
AMERICAN PHYSICIANS CAP INC	COM	028884104	 157.3 	3	" 7,575 "	SH		DEFINED	" 7,575 "	0	0
AMERISOURCEBERGEN CORP	COM	03073E105	" 2,916.8 "	"1,3"	" 41,110 "	SH		DEFINED	" 41,110 "	0	0
AMKOR TECHNOLOGY INC	COM	031652100	 946.8 	"2,3"	" 90,000 "	SH		DEFINED	" 90,000 "	0	0
ANADARKO PETROLEUM CORP	COM	032511107	" 7,801.0 "	"2,3"	" 162,250 "	SH		DEFINED	" 162,250 "	0	0
ANHEUSER BUSCH CO                       	COM	035229103	" 2,094.0 "	"1,3"	" 50,000 "	SH		DEFINED	" 50,000 "	0	0
ANIXTER INTERNATIONAL INC	COM	035290105	 101.0 	3	" 4,075 "	SH		DEFINED	" 4,075 "	0	0
ANNTAYLOR STORES CORP	COM	036115103	 69.0 	3	" 3,150 "	SH		DEFINED	" 3,150 "	0	0
AOL TIME WARNER	COM	00184A105	" 2,118.4 "	"1,3"	" 64,000 "	SH		DEFINED	" 64,000 "	0	0
AON CORP	COM	037389103	" 22,890.0 "	"2,3"	" 545,000 "	SH		DEFINED	" 545,000 "	0	0
APACHE CORP	COM	037411105	" 1,075.0 "	"1,2,3"	" 25,000 "	SH		DEFINED	" 25,000 "	0	0
APPLIED MATERIALS INC.                  	COM	038222105	" 2,417.4 "	"1,3"	" 85,000 "	SH		DEFINED	" 85,000 "	0	0
ARGUSS COMMUNICATIONS INC	COM	040282105	" 1,593.0 "	"1,2,3"	" 677,874 "	SH		DEFINED	" 677,874 "	0	0
ARRIS GROUP	COM	04269Q100	 143.2 	"1,2,3"	" 40,000 "	SH		DEFINED	" 40,000 "	0	0
ARVINMERITOR INC	COM	043353101	 106.8 	3	" 7,475 "	SH		DEFINED	" 7,475 "	0	0
AT & T CORPORATION	COM	001957109	" 14,185.5 "	"2,3"	" 735,000 "	SH		DEFINED	" 735,000 "	0	0
AT HOME CORP	"SB DB CV0,525%18"	045919AC1	 315.0 	"2,3"	" 3,000,000 "	PRN		DEFINED
AT HOME CORP	SUB NT CV4.75%06	045919AF4	" 5,525.0 "	"1,2,3"	" 32,500,000 "	PRN		DEFINED
AT&T WIRELESS SERVICES INC	COM	00209A106	" 8,202.0 "	"2,3"	" 548,993 "	SH		DEFINED	" 548,993 "	0	0
ATLAS AIR WORLDWIDE HLDGS	COM	049164106	" 1,088.4 "	"2,3,4"	" 110,500 "	SH		DEFINED	" 110,500 "	0	0
BANK OF NEW YORK                        	COM	064057102	" 1,750.0 "	"2,3"	" 50,000 "	SH		DEFINED	" 50,000 "	0	0
BANK ONE CORP	COM	06423A103	" 9,441.0 "	"2,3"	" 300,000 "	SH		DEFINED	" 300,000 "	0	0
BARNES & NOBLE	SUB NT CV 144A09	067774AC3	" 3,247.5 "	"1,3"	" 2,450,000 "	PRN		DEFINED
BARNES & NOBLE INC	COM	067774109	" 2,233.9 "	"1,3"	" 61,880 "	SH		DEFINED	" 61,880 "	0	0
BAYCORP HOLDINGS LTD	COM	072728108	" 3,307.9 "	"1,3"	" 386,442 "	SH		DEFINED	" 386,442 "	0	0
BEA SYSTEMS INC	COM	073325102	" 1,466.3 "	"1,3"	" 152,900 "	SH		DEFINED	" 152,900 "	0	0
BEA SYSTEMS INC	SB NT CV 4%06	073325AD4	" 1,703.8 "	"1,3"	" 2,350,000 "	PRN		DEFINED
BEAR STEARNS COMPANIES INC	COM	073902108	" 2,000.4 "	"2,3"	" 40,000 "	SH		DEFINED	" 40,000 "	0	0
BED BATH & BEYOND INC	COM	075896100	 381.9 	"1,3"	" 15,000 "	SH		DEFINED	" 15,000 "	0	0
BELLSOUTH CORP	COM	079860102	" 2,908.5 "	"2,3"	" 70,000 "	SH		DEFINED	" 70,000 "	0	0
BETHLEHEM STEEL CORP	COM	087509105	 711.8 	"2,3"	" 556,100 "	SH		DEFINED	" 556,100 "	0	0
BOEING COMPANY	COM	097023105	" 6,480.6 "	"2,3"	" 193,450 "	SH		DEFINED	" 193,450 "	0	0
BORG WARNER AUTOMOTIVE INC              	COM	099724106	 85.6 	3	" 2,125 "	SH		DEFINED	" 2,125 "	0	0
BOWATER INC	COM	102183100	" 2,280.2 "	"2,3"	" 51,800 "	SH		DEFINED	" 51,800 "	0	0
BOWNE & CO INC	COM	103043105	 108.6 	3	" 10,700 "	SH		DEFINED	" 10,700 "	0	0
BRISTOL-MYERS SQUIBB CO	COM	110122108	" 5,000.4 "	"2,3"	" 90,000 "	SH		DEFINED	" 90,000 "	0	0
BROADWING INC	PFD CV DEP1/20	111620407	 399.9 	"1,3"	" 10,000 "	SH		DEFINED	" 10,000 "	0	0
BUCKHEAD AMERICA CORP                   	COM	11835A105	 19.4 	"2,3"	" 21,579 "	SH		DEFINED	" 21,579 "	0	0
BURLINGTON RESOURCES INC                	COM	122014103	" 4,789.4 "	"2,3"	" 140,000 "	SH		DEFINED	" 140,000 "	0	0
CABLEVISION SYSTEMS  -CL A	CL A NY CABLVS	12686C109	 601.8 	"2,3"	" 14,700 "	SH		DEFINED	" 14,700 "	0	0
CABOT OIL & GAS CORP  -CL A	CL A	127097103	 997.5 	"2,3"	" 50,000 "	SH		DEFINED	" 50,000 "	0	0
CALPINE CORPORATION	COM	131347106	" 6,888.6 "	"1,2,3"	" 302,000 "	SH		DEFINED	" 302,000 "	0	0
CANADIAN PACIFIC LTD	COM	135923100	" 1,604.5 "	"1,3"	" 50,000 "	SH		DEFINED	" 50,000 "	0	0
CARDINAL HEALTH  INC.	COM	14149Y108	" 4,765.1 "	"1,3"	" 64,437 "	SH		DEFINED	" 64,437 "	0	0
CATELLUS DEVELOPMENT CORP	COM	149111106	" 1,883.0 "	"2,3"	" 107,724 "	SH		DEFINED	" 107,724 "	0	0
CATERPILLAR INC	COM	149123101	 896.0 	"2,3"	" 20,000 "	SH		DEFINED	" 20,000 "	0	0
CBRL GROUP INC	COM	12489V106	 901.3 	3	" 41,025 "	SH		DEFINED	" 41,025 "	0	0
CELESTICA INC	SUB VTG SHS	15101Q108	" 3,191.0 "	"1,2,3"	" 117,100 "	SH		DEFINED	" 117,100 "	0	0
CELESTICA INC	LYON ZERO	15101QAA6	" 12,613.3 "	"1,2,3"	" 34,380,000 "	PRN		DEFINED
CENDANT CORPORATION	COM	151313103	" 2,351.4 "	"1,2,3"	" 183,700 "	SH		DEFINED	" 183,700 "	0	0
CENTEX CORP	COM	152312104	 438.5 	3	" 13,000 "	SH		DEFINED	" 13,000 "	0	0
CHIRON CORP	COM	170040109	" 6,970.5 "	"1,2,3"	" 157,100 "	SH		DEFINED	" 157,100 "	0	0
CHIRON CORP	LYON ZRO 144A31	170040AD1	" 30,111.3 "	"1,2,3"	" 54,500,000 "	PRN		DEFINED
CHUBB CORP	COM	171232101	" 1,335.4 "	3	" 18,700 "	SH		DEFINED	" 18,700 "	0	0
CISCO SYSTEMS INC	COM	17275R102	" 2,436.0 "	"1,3"	" 200,000 "	SH		DEFINED	" 200,000 "	0	0
CITIGROUP INC	COM	172967101	" 8,707.5 "	"1,2,3"	" 215,000 "	SH		DEFINED	" 215,000 "	0	0
CLEAR CHANNEL COMMUNICATIONS	COM	184502102	" 1,987.5 "	"1,3"	" 50,000 "	SH		DEFINED	" 50,000 "	0	0
CLEVELAND-CLIFFS INC	COM	185896107	 215.3 	"2,3"	" 14,950 "	SH		DEFINED	" 14,950 "	0	0
CMS ENERGY	ADJ CV TR8.75%	125896308	 305.0 	"1,3"	" 10,000 "	SH		DEFINED	" 10,000 "	0	0
CNA SURETY CORPORATION	COM	12612L108	" 371,610.7 "	"2,3,4"	" 27,425,147 "	SH		DEFINED	" 27,425,147 "	0	0
CNF INC	COM	12612W104	 798.5 	3	" 34,975 "	SH		DEFINED	" 34,975 "	0	0
COLT TELECOM GROUP-SPONS ADR	SPONSORED ADR	196877104	 13.7 	"2,3"	" 3,000 "	SH		DEFINED	" 3,000 "	0	0
COMCAST CORP CL A SPL	CL A SPL	200300200	" 4,304.4 "	"1,3"	" 120,000 "	SH		DEFINED	" 120,000 "	0	0
COMMUNICATION INTELLIGENCE	COM	20338K106	 462.0 	"1,3"	" 660,000 "	SH		DEFINED	" 660,000 "	0	0
COMPAQ COMPUTER CORP	COM	204493100	" 3,781.1 "	"2,3"	" 455,000 "	SH		DEFINED	" 455,000 "	0	0
COMPUTER ASSOCIATES INTL INC	COM	204912109	 909.9 	3	" 35,350 "	SH		DEFINED	" 35,350 "	0	0
CONOCO INC-CL A	CL A	208251306	" 2,288.7 "	"2,3"	" 90,000 "	SH		DEFINED	" 90,000 "	0	0
CONSTELLATION ENERGY GROUP	COM	210371100	" 3,146.0 "	"2,3"	" 130,000 "	SH		DEFINED	" 130,000 "	0	0
COOPER INDUSTRIES INCORPORATED	COM	216669101	 930.0 	3	" 22,425 "	SH		DEFINED	" 22,425 "	0	0
CORN PRODUCTS INTL INC	COM	219023108	" 3,815.3 "	"2,3"	" 132,800 "	SH		DEFINED	" 132,800 "	0	0
CORNING INC.	COM	219350105	 79.4 	"2,3"	" 9,000 "	SH		DEFINED	" 9,000 "	0	0
CORRECTIONS CORP	PFD CV B 12%	22025Y308	 1.5 	"2,3"	 101 	SH		DEFINED	 101 	0	0
COX COMMUNICATIONS INC-CL A	CL A	224044107	" 2,592.7 "	"1,2,3"	" 62,100 "	SH		DEFINED	" 62,100 "	0	0
CROWN CORK & SEAL CO INC.               	COM	228255105	" 1,336.4 "	"2,3"	" 583,600 "	SH		DEFINED	" 583,600 "	0	0
CVS CORP	COM	126650100	" 1,992.0 "	"1,3"	" 60,000 "	SH		DEFINED	" 60,000 "	0	0
CYTEC INDUSTRIES INC	COM	232820100	 364.0 	3	" 15,725 "	SH		DEFINED	" 15,725 "	0	0
D.R. HORTON INC	COM	23331A109	" 6,883.8 "	"2,3"	" 330,000 "	SH		DEFINED	" 330,000 "	0	0
DEERE & CO	COM	244199105	" 1,692.5 "	"2,3"	" 45,000 "	SH		DEFINED	" 45,000 "	0	0
DEL MONTE FOODS CO	COM	24522P103	" 1,951.6 "	"2,3"	" 253,450 "	SH		DEFINED	" 253,450 "	0	0
DELL COMPUTER CORP	COM	247025109	 741.2 	"1,3"	" 40,000 "	SH		DEFINED	" 40,000 "	0	0
DELPHI AUTOMOTIVE SYSTEMS	COM	247126105	" 1,494.6 "	"2,3"	" 127,200 "	SH		DEFINED	" 127,200 "	0	0
DELPHI FINANCIAL GROUP-CL A	CL A	247131105	" 3,718.0 "	"2,3"	" 110,000 "	SH		DEFINED	" 110,000 "	0	0
DILLARDS INC-CL A	CL A	254067101	 101.4 	3	" 7,700 "	SH		DEFINED	" 7,700 "	0	0
DOLLAR THRIFTY AUTOMOTIVE GP	COM	256743105	" 1,144.3 "	3	" 115,000 "	SH		DEFINED	" 115,000 "	0	0
DOW CHEMICAL CORP                       	COM	260543103	" 2,948.4 "	"2,3"	" 90,000 "	SH		DEFINED	" 90,000 "	0	0
DU PONT DE NEMOURS E.I.                 	COM	263534109	" 1,313.2 "	"2,3"	" 35,000 "	SH		DEFINED	" 35,000 "	0	0
EAST-WEST BANCORP INC.	COM	27579R104	" 22,628.0 "	"2,3"	" 967,420 "	SH		DEFINED	" 967,420 "	0	0
EATON VANCE CORP	COM NON VTG	278265103	 921.7 	"1,2,3"	" 29,400 "	SH		DEFINED
ECHOSTAR COMM	SUB NT CV 144A07	278762AB5	 470.6 	"1,3"	" 590,000 "	PRN		DEFINED
ECHOSTAR COMMUNICATIONS - A             	CL A	278762109	 248.6 	"1,3"	" 10,685 "	SH		DEFINED	" 10,685 "	0	0
EL PASO CORP	COM	28336L109	" 4,578.8 "	"2,3"	" 110,200 "	SH		DEFINED	" 110,200 "	0	0
ELDERTRUST	COM SH BEN INT	284560109	" 1,486.5 "	"2,3"	" 208,200 "	SH		DEFINED	" 208,200 "	0	0
ELECTRONIC _DATA SYSTEMS_CORP	COM	285661104	" 18,488.9 "	"2,3"	" 321,100 "	SH		DEFINED	" 321,100 "	0	0
ENCOMPASS SERVICES CORP	COM	29255U104	 150.4 	"2,3"	" 39,800 "	SH		DEFINED	" 39,800 "	0	0
ENERGY EAST CORPORATION	COM	29266M109	" 2,722.9 "	"2,3"	" 135,400 "	SH		DEFINED	" 135,400 "	0	0
ENGEL GENERAL DEVELOPERS	ORD	M40515104	 465.6 	"2,3"	" 120,000 "	SH		DEFINED	" 120,000 "	0	0
ENRON CORP	COM	293561106	" 2,110.3 "	"1,3"	" 77,500 "	SH		DEFINED	" 77,500 "	0	0
EQUITY OFFICE PROPERTIES TR	COM	294741103	 320.0 	"1,3"	" 10,000 "	SH		DEFINED	" 10,000 "	0	0
ESTERLINE TECHNOLOGIES CORP	COM	297425100	 68.9 	3	" 4,350 "	SH		DEFINED	" 4,350 "	0	0
EXCITE@HOME	SB NT CV 144A 06	045919AD9	" 3,485.0 "	"1,2,3"	" 20,500,000 "	PRN		DEFINED
EXELON CORP	COM	30161N101	" 1,561.0 "	"2,3"	" 35,000 "	SH		DEFINED	" 35,000 "	0	0
FEDERATED DEPART STORES INC	COM	31410H101	" 4,512.0 "	"2,3"	" 160,000 "	SH		DEFINED	" 160,000 "	0	0
FIRST CENTRAL FINANCIAL                 	SUB DEB CV 9%00	318908AA8	 161.2 	"1,3,4"	" 1,612,000 "	PRN		DEFINED
FIRST CITIZENS BCSHS  -CL A	CL A 	31946M103	 41.6 	3	 500 	SH		DEFINED	 500 	0	0
FIRST DATA CORP                         	COM	319963104	" 3,786.9 "	"1,3"	" 65,000 "	SH		DEFINED	" 65,000 "	0	0
FIRSTENERGY CORP	COM	337932107	" 3,595.0 "	"2,3"	" 100,000 "	SH		DEFINED	" 100,000 "	0	0
FLEMING COS INC	COM	339130106	" 1,837.9 "	"1,3"	" 62,300 "	SH		DEFINED	" 62,300 "	0	0
FMC CORP (NEW)	COM NEW	302491303	" 6,633.2 "	"2,3"	" 135,400 "	SH		DEFINED	" 135,400 "	0	0
FMC TECHNOLOGIES INC	COM	30249U101	 196.4 	3	" 17,000 "	SH		DEFINED	" 17,000 "	0	0
FORTUNE BRANDS INC	COM	349631101	 862.6 	3	" 25,750 "	SH		DEFINED	" 25,750 "	0	0
FREDDIE MAC	COM	313400301	" 2,990.0 "	"1,3"	" 46,000 "	SH		DEFINED	" 46,000 "	0	0
FREEPORT MCMORAN COPPER&GOLD	CL B	35671D857	 630.3 	3	" 57,350 "	SH		DEFINED	" 57,350 "	0	0
FRONTLINE LTD.	ORD	G3682E127	" 2,266.8 "	"2,3"	" 250,000 "	SH		DEFINED	" 250,000 "	0	0
GABLES RESIDENTIAL TRUST	SH BEN INT	362418105	 161.0 	3	" 5,250 "	SH		DEFINED	" 5,250 "	0	0
GEN SEMICONDUCTR	SUB NT CV5.75%06	370787AB9	 982.5 	"1,3"	" 1,000,000 "	PRN		DEFINED
GENENTECH INC	COM NEW	368710406	" 1,716.0 "	"1,3"	" 39,000 "	SH		DEFINED	" 39,000 "	0	0
GENERAL ELECTRIC CO                     	COM	369604103	" 8,518.8 "	"1,2,3"	" 229,000 "	SH		DEFINED	" 229,000 "	0	0
GENERAL MOTORS CORP CLASS H             	CL H NEW	370442832	" 2,599.4 "	"2,3"	" 195,000 "	SH		DEFINED	" 195,000 "	0	0
GENERAL SEMICONDUCTOR INC	COM	370787103	 411.8 	"1,3"	" 42,900 "	SH		DEFINED	" 42,900 "	0	0
GENUITY INC-A	CL A	37248E103	 39.3 	"2,3"	" 25,000 "	SH		DEFINED	" 25,000 "	0	0
GEORGIA-PACIFIC (TIMBER GRP)	COM-TIMBER GRP	373298702	" 1,267.7 "	"2,3"	" 35,000 "	SH		DEFINED	" 35,000 "	0	0
GEORGIA-PACIFIC CORPORATION	COM GA PAC GRP	373298108	 575.1 	3	" 19,975 "	SH		DEFINED	" 19,975 "	0	0
GLIMCHER REALTY TRUST	SH BEN INT	379302102	 138.7 	3	" 8,575 "	SH		DEFINED	" 8,575 "	0	0
GOLD STANDARD INC	COM PAR $0.001	380724302	 99.4 	"2,3"	" 82,813 "	SH		DEFINED	" 82,813 "	0	0
HANOVER COMPRESS	SR NT CV 4.75%08	410768AC9	" 2,025.0 "	"1,3"	" 2,400,000 "	PRN		DEFINED
HANOVER COMPRESSOR CO	COM	410768105	 839.6 	"1,3"	" 38,800 "	SH		DEFINED	" 38,800 "	0	0
HAYES LEMMERZ INTL INC COM	COM	420781106	 273.8 	"1,3"	" 273,800 "	SH		DEFINED	" 273,800 "	0	0
HCA INC                                 	COM	404119109	" 3,544.8 "	"1,3"	" 80,000 "	SH		DEFINED	" 80,000 "	0	0
HEALTH CARE PPTYS INVEST INC	COM	421915109	" 2,460.8 "	"2,3"	" 64,000 "	SH		DEFINED	" 64,000 "	0	0
HEALTH NET INC	COM	42222G108	" 1,099.9 "	3	" 57,225 "	SH		DEFINED	" 57,225 "	0	0
HEALTHCARE REALTY TRUST INC	COM	421946104	" 6,143.6 "	"2,3"	" 240,925 "	SH		DEFINED	" 240,925 "	0	0
HEALTHSOUTH CORP	SB DBCV 3.25%03	421924AF8	" 3,800.4 "	"2,3"	" 4,000,000 "	PRN		DEFINED
HEALTHSOUTH CORP.                       	COM	421924101	" 9,764.1 "	"2,3"	" 600,500 "	SH		DEFINED	" 600,500 "	0	0
HEARST-ARGYLE TELEVISION INC	COM	422317107	" 4,198.3 "	"2,3"	" 239,900 "	SH		DEFINED	" 239,900 "	0	0
HERBALIFE INTERNATIONAL-CL B	CL B	426908307	 85.2 	3	" 8,925 "	SH		DEFINED	" 8,925 "	0	0
HERCULES INC	COM	427056106	" 3,168.4 "	"2,3"	" 384,050 "	SH		DEFINED	" 384,050 "	0	0
HEWLETT-PACKARD CO.                     	COM	428236103	" 6,867.4 "	"2,3"	" 427,875 "	SH		DEFINED	" 427,875 "	0	0
HILTON HOTELS CORP	COM	432848109	" 4,749.3 "	"2,3"	" 605,000 "	SH		DEFINED	" 605,000 "	0	0
HOME DEPOT                              	COM	437076102	" 1,726.7 "	"1,3"	" 45,000 "	SH		DEFINED	" 45,000 "	0	0
HONEYWELL INTERNATIONAL INC	COM	438516106	" 2,508.0 "	"1,2,3"	" 95,000 "	SH		DEFINED	" 95,000 "	0	0
HOUSEHOLD INTL INC	COM	441815107	" 2,819.0 "	"2,3"	" 50,000 "	SH		DEFINED	" 50,000 "	0	0
IBP INC	COM	449223106	 23.5 	3	 994 	SH		DEFINED	 994 	0	0
IMC GLOBAL INC	COM	449669100	 954.9 	"2,3"	" 106,100 "	SH		DEFINED	" 106,100 "	0	0
INGERSOLL RAND CO	COM	456866102	" 1,352.0 "	"2,3"	" 40,000 "	SH		DEFINED	" 40,000 "	0	0
INSWEB CORPORATION	COM	45809K103	 528.6 	"2,3"	" 1,149,117 "	SH		DEFINED	" 1,149,117 "	0	0
INTEL CORP	COM	458140100	" 1,411.0 "	"1,3"	" 69,200 "	SH		DEFINED	" 69,200 "	0	0
INTERNATIONAL BUSINESS MACHINE          	COM	459200101	" 19,419.9 "	"1,2,3"	" 210,400 "	SH		DEFINED	" 210,400 "	0	0
INTERNATIONAL PAPER CO.	COM	460146103	" 3,484.0 "	"2,3"	" 100,000 "	SH		DEFINED	" 100,000 "	0	0
INTERSTATE BAKERIES	COM	46072H108	 168.3 	3	" 6,600 "	SH		DEFINED	" 6,600 "	0	0
INTL RECTIFIER	SUB NT CV 144A07	460254AD7	" 1,125.0 "	"1,3"	" 1,465,000 "	PRN		DEFINED
INTL RECTIFIER CORP	COM	460254105	 413.9 	"1,3"	" 15,200 "	SH		DEFINED	" 15,200 "	0	0
ISPAT INTL NV-NY REG SHS	NY REG SH CL A	464899103	 550.0 	"2,3"	" 275,000 "	SH		DEFINED	" 275,000 "	0	0
IVAX CORP	COM	465823102	" 1,477.1 "	"1,3"	" 66,625 "	SH		DEFINED	" 66,625 "	0	0
IVAX CORP	SR SB CV 144A07	465823AB8	" 2,493.0 "	"1,3"	" 2,400,000 "	PRN		DEFINED
J.P. MORGAN CHASE & CO.	COM	46625H100	" 1,024.5 "	"2,3"	" 30,000 "	SH		DEFINED	" 30,000 "	0	0
JOY GLOBAL INC	COM	481165108	" 1,559.3 "	"2,3"	" 105,000 "	SH		DEFINED	" 105,000 "	0	0
KELLWOOD CO	COM	488044108	 119.3 	3	" 6,450 "	SH		DEFINED	" 6,450 "	0	0
KENNAMETAL INC	COM	489170100	 112.5 	3	" 3,525 "	SH		DEFINED	" 3,525 "	0	0
KERR MC GEE CORP	COM	492386107	" 7,267.4 "	"2,3"	" 140,000 "	SH		DEFINED	" 140,000 "	0	0
KEY3MEDIA GROUP	COM	49326R104	 28.6 	3	" 7,225 "	SH		DEFINED	" 7,225 "	0	0
KEYSPAN CORPORATION	COM	49337W100	" 7,811.4 "	"2,3"	" 235,000 "	SH		DEFINED	" 235,000 "	0	0
KIMBERLY CLARK	COM	494368103	" 1,860.0 "	"1,3"	" 30,000 "	SH		DEFINED	" 30,000 "	0	0
KMART FINANCING	PFD TRCV 7.75%	498778208	" 1,115.7 "	"2,3"	" 30,000 "	SH		DEFINED	" 30,000 "	0	0
KROGER COMPANY	COM	501044101	" 11,807.5 "	"1,2,3"	" 479,200 "	SH		DEFINED	" 479,200 "	0	0
KULICKE & SOFFA	SUB NT CV4.75%06	501242AE1	" 2,561.6 "	"1,3"	" 3,450,000 "	PRN		DEFINED
KULICKE & SOFFA INDUSTRIES	COM	501242101	" 1,313.5 "	"1,3"	" 120,500 "	SH		DEFINED	" 120,500 "	0	0
L-3 COMM HLDGS	SR SB CV 144A 09	502424AA2	" 3,063.0 "	"1,3"	" 2,400,000 "	PRN		DEFINED
L-3 COMMUNICATIONS CORP	COM	502424104	" 2,043.7 "	"1,3"	" 23,370 "	SH		DEFINED	" 23,370 "	0	0
LABORATORY CRP OF AMER HLDGS	COM NEW	50540R409	" 6,435.7 "	"1,2,3"	" 79,600 "	SH		DEFINED	" 79,600 "	0	0
LAM RESEARCH CORP	COM	512807108	 741.2 	"1,3"	" 43,730 "	SH		DEFINED	" 43,730 "	0	0
LAMAR ADVERTISIN	NT CV 5.25%06	512815AF8	" 2,403.4 "	"1,3"	" 2,550,000 "	PRN		DEFINED
LAMAR ADVERTISING CO	CL A	512815101	" 1,170.4 "	"1,3"	" 38,600 "	SH		DEFINED	" 38,600 "	0	0
LATTICE SEMICOND	SUB NT CV4.75%06	518415AC8	" 2,483.7 "	"1,3"	" 2,450,000 "	PRN		DEFINED
LATTICE SEMICONDUCTOR CORP	COM	518415104	" 1,577.9 "	"1,3"	" 100,500 "	SH		DEFINED	" 100,500 "	0	0
LEAR CORPORATION	COM	521865105	" 1,210.5 "	3	" 44,800 "	SH		DEFINED	" 44,800 "	0	0
LEGG MASON INC	COM	524901105	" 3,769.2 "	"1,2,3"	" 94,800 "	SH		DEFINED	" 94,800 "	0	0
LIBERTY MEDIA	COM SER A	530718105	" 6,833.2 "	"1,3"	" 538,048 "	SH		DEFINED	" 538,048 "	0	0
LIBERTY PROPERTY TRUST	SH BEN INT	531172104	" 2,869.0 "	"2,3"	" 100,000 "	SH		DEFINED	" 100,000 "	0	0
LILLY (ELI) & CO.	COM	532457108	" 3,623.4 "	"1,3"	" 44,900 "	SH		DEFINED	" 44,900 "	0	0
LINCOLN NATIONAL CORP INDIANA	COM	534187109	 699.5 	"2,3"	" 15,000 "	SH		DEFINED	" 15,000 "	0	0
LOCAL FINANCIAL CORP	COM	539553107	" 17,518.7 "	"2,3"	" 1,310,300 "	SH		DEFINED	" 1,310,300 "	0	0
LONGVIEW FIBRE CO	COM	543213102	" 1,414.0 "	"2,3"	" 140,000 "	SH		DEFINED	" 140,000 "	0	0
LORAL SPACE & COMMUNICATIONS	COM	G56462107	 246.2 	"2,3"	" 189,400 "	SH		DEFINED	" 189,400 "	0	0
LSI CORP                                	COM	502161102	" 1,242.0 "	"1,3"	" 105,700 "	SH		DEFINED	" 105,700 "	0	0
LSI LOGIC	SB NT CV 4.25%04	502161AD4	" 1,993.9 "	"1,3"	" 1,950,000 "	PRN		DEFINED
LUBRIZOL CORP	COM	549271104	 992.2 	3	" 31,400 "	SH		DEFINED	" 31,400 "	0	0
LUCENT TECH	PFD CV 8% 144A	549463206	" 24,630.0 "	"1,2,3"	" 24,000 "	SH		DEFINED	" 24,000 "	0	0
LUCENT TECHNOLOGIES	COM	549463107	" 9,741.0 "	"1,2,3"	" 1,700,000 "	SH		DEFINED	" 1,700,000 "	0	0
MARRIOTT INTERNATIONAL- CL A	CL A	571903202	 541.1 	"2,3"	" 16,200 "	SH		DEFINED	" 16,200 "	0	0
MARRIOTT INTL	SRLYON ZRO144A21	571903AA1	" 8,117.9 "	"2,3"	" 9,700,000 "	PRN		DEFINED
MEDICALOGIC/MEDSCAPE INC	COM	584642102	 409.6 	"2,3"	" 1,077,800 "	SH		DEFINED	" 1,077,800 "	0	0
MEDTRONIC INC	COM	585055106	" 5,785.5 "	"1,3"	" 133,000 "	SH		DEFINED	" 133,000 "	0	0
MERRILL LYNCH & CO INC	COM	590188108	 158.3 	"1,2,3"	" 3,900 "	SH		DEFINED	" 3,900 "	0	0
METLIFE INC	COM	59156R108	" 5,821.2 "	"2,3"	" 196,000 "	SH		DEFINED	" 196,000 "	0	0
MICROSOFT CORP	COM	594918104	" 3,172.5 "	"1,2,3"	" 62,000 "	SH		DEFINED	" 62,000 "	0	0
MILACRON INC	COM	598709103	 70.3 	3	" 5,875 "	SH		DEFINED	" 5,875 "	0	0
MIRANT CORPORATION	COM	604675108	 262.8 	"1,3"	" 12,000 "	SH		DEFINED	" 12,000 "	0	0
MOLEX - CLASS A NON-VOTING              	CL A	608554200	" 2,113.9 "	"1,3"	" 86,993 "	SH		DEFINED	" 86,993 "	0	0
MONSANTO CO	COM	61166W101	 564.1 	3	" 16,725 "	SH		DEFINED	" 16,725 "	0	0
MSDW ASIA PACIFIC FUND	COM	61744U106	" 1,243.3 "	"2,3"	" 197,348 "	SH		DEFINED	" 197,348 "	0	0
MSDW INDIA INVESTMENT FUND	COM	61745C105	 392.4 	"2,3"	" 53,026 "	SH		DEFINED	" 53,026 "	0	0
NABORS INDUSTRIES INC	COM	629568106	 188.7 	"1,3"	" 9,000 "	SH		DEFINED	" 9,000 "	0	0
NACCO INDS INC CL A	CL A	629579103	 93.4 	3	" 1,675 "	SH		DEFINED	" 1,675 "	0	0
NATIONWIDE FINANCIAL SERV-A	CL A 	638612101	 929.5 	"2,3"	" 25,000 "	SH		DEFINED	" 25,000 "	0	0
NEIMAN MARCUS GROUP -CL B	CL B	640204301	" 2,341.6 "	"2,3"	" 98,800 "	SH		DEFINED	" 98,800 "	0	0
NEWHALL LAND & FARMING CO-LP	DEPOSITARY REC	651426108	" 2,537.3 "	"2,3"	" 89,500 "	SH		DEFINED	" 89,500 "	0	0
NEWMONT MINING CORP	COM	651639106	" 1,062.0 "	"2,3"	" 45,000 "	SH		DEFINED	" 45,000 "	0	0
NEWS CORP LTD -SPONS ADR	ADR NEW	652487703	" 3,374.0 "	"2,3"	" 140,000 "	SH		DEFINED	" 140,000 "	0	0
NEWS CORP LTD -SPONS ADR PRF	SP ADR PFD	652487802	" 10,353.3 "	"1,2,3"	" 486,300 "	SH		DEFINED	" 486,300 "	0	0
NIAGARA MOHAWK HOLDINGS INC	COM	653520106	" 3,338.0 "	"2,3"	" 196,700 "	SH		DEFINED	" 196,700 "	0	0
NOKIA CORP -SPON ADR	SPONSORED ADR	654902204	 782.5 	"1,3"	" 50,000 "	SH		DEFINED	" 50,000 "	0	0
NORFOLK SOUTHERN CORP.	COM	655844108	" 10,478.0 "	"2,3"	" 650,000 "	SH		DEFINED	" 650,000 "	0	0
NORTEL NETWORKS CORP	COM	656568102	" 5,189.3 "	"2,3"	" 925,000 "	SH		DEFINED	" 925,000 "	0	0
NORTH FORK BANCORPORATION	COM	659424105	" 4,461.0 "	"2,3"	" 150,000 "	SH		DEFINED	" 150,000 "	0	0
NORTHERN TRUST CORP                     	COM	665859104	" 7,410.2 "	"2,3"	" 141,200 "	SH		DEFINED	" 141,200 "	0	0
NOVELLUS SYSTEMS	LYON ZERO 144A31	670008AA9	" 21,593.8 "	"1,2,3"	" 25,000,000 "	PRN		DEFINED
NOVELLUS SYSTEMS INC	COM	670008101	 913.9 	"1,2,3"	" 32,000 "	SH		DEFINED	" 32,000 "	0	0
NRG ENERGY INC	COM	629377102	 891.6 	"2,3"	" 55,000 "	SH		DEFINED	" 55,000 "	0	0
OCEAN ENERGY INC	COM	67481E106	 790.6 	3	" 48,500 "	SH		DEFINED	" 48,500 "	0	0
OFFICEMAX INC	COM	67622M108	 152.5 	"2,3"	" 50,000 "	SH		DEFINED	" 50,000 "	0	0
OGE ENERGY CORP	COM	670837103	" 1,734.3 "	"2,3"	" 79,300 "	SH		DEFINED	" 79,300 "	0	0
OLD REPUBLIC INTL CORP	COM	680223104	" 5,944.4 "	"2,3"	" 226,800 "	SH		DEFINED	" 226,800 "	0	0
OMNICOM GROUP	COM	681919106	 181.7 	"1,2,3"	" 2,800 "	SH		DEFINED	" 2,800 "	0	0
ON COMMAND CORPORATION	COM	682160106	 771.9 	"1,2,3"	" 352,480 "	SH		DEFINED	" 352,480 "	0	0
ON COMMAND CORPORATION- CLASS B WTS	WT B EX 100703	682160122	 39.4 	"1,2,3"	" 123,130 "	SH	CALL	DEFINED
ORACLE CORP	COM	68389X105	" 1,509.6 "	"2,3"	" 120,000 "	SH		DEFINED	" 120,000 "	0	0
OVERSEAS SHIPHOLDING GROUP	COM	690368105	" 2,778.6 "	"2,3"	" 126,300 "	SH		DEFINED	" 126,300 "	0	0
OWENS-ILL INC	PFD CONV $ .01	690768502	 274.7 	"2,3"	" 20,500 "	SH		DEFINED	" 20,500 "	0	0
PACIFIC CENTURY FINL CORP	COM	694058108	 981.5 	3	" 42,000 "	SH		DEFINED	" 42,000 "	0	0
PALL CORP	COM	696429307	" 2,723.0 "	"2,3"	" 140,000 "	SH		DEFINED	" 140,000 "	0	0
PATHMARK STORES INC	COM	70322A101	" 18,134.0 "	"2,3"	" 761,932 "	SH		DEFINED	" 761,932 "	0	0
PAYLESS SHOESOURCE INC	COM	704379106	" 1,268.6 "	3	" 23,150 "	SH		DEFINED	" 23,150 "	0	0
PEABODY ENERGY CORP	COM	704549104	" 1,928.0 "	"1,3"	" 80,000 "	SH		DEFINED	" 80,000 "	0	0
PEPSI BOTTLING GROUP INC	COM	713409100	" 4,607.0 "	"2,3"	" 100,000 "	SH		DEFINED	" 100,000 "	0	0
PEPSICO INCORPORATED	COM	713448108	" 3,977.0 "	"1,3"	" 82,000 "	SH		DEFINED	" 82,000 "	0	0
PFIZER INC                              	COM	717081103	" 5,333.3 "	"1,3"	" 133,000 "	SH		DEFINED	" 133,000 "	0	0
PHILLIPS PETROLEUM COMPANY	COM	718507106	" 2,831.9 "	"2,3"	" 52,500 "	SH		DEFINED	" 52,500 "	0	0
PHOENIX COMPANIES INC	COM	71902E109	" 3,106.8 "	"2,3"	" 215,000 "	SH		DEFINED	" 215,000 "	0	0
PLACER DOME INC                         	COM	725906101	" 2,544.3 "	"2,3"	" 198,930 "	SH		DEFINED	" 198,930 "	0	0
POTASH CORP OF SASKATCHEWAN	COM	73755L107	" 3,224.5 "	"2,3"	" 57,900 "	SH		DEFINED	" 57,900 "	0	0
POTLATCH CORPORATION	COM	737628107	" 1,889.3 "	"2,3"	" 70,000 "	SH		DEFINED	" 70,000 "	0	0
POTOMAC ELECTRIC POWER	COM	737679100	" 4,620.4 "	"2,3"	" 210,400 "	SH		DEFINED	" 210,400 "	0	0
PRAXAIR INC                             	COM	74005P104	" 3,570.0 "	"2,3"	" 85,000 "	SH		DEFINED	" 85,000 "	0	0
PRECISION DRILLING CORP	COM	74022D100	 701.2 	3	" 33,200 "	SH		DEFINED	" 33,200 "	0	0
PRESIDENTIAL LIFE CORP	COM	740884101	 149.5 	3	" 8,225 "	SH		DEFINED	" 8,225 "	0	0
PRIME HOSPITALITY CORP	COM	741917108	 716.1 	"2,3"	" 81,375 "	SH		DEFINED	" 81,375 "	0	0
PROVIDIAN FINANCIAL CORP	COM	74406A102	 542.5 	3	" 26,925 "	SH		DEFINED	" 26,925 "	0	0
PROVINCE HEALTHC	SB NT CV 144A 05	743977AA8	 755.6 	"1,3"	" 650,000 "	PRN		DEFINED
PROVINCE HEALTHC	SB NT CV 4.5%05	743977AC4	" 1,417.7 "	"1,3"	" 1,200,000 "	PRN		DEFINED
PROVINCE HEALTHCARE CO	COM	743977100	" 1,190.4 "	"1,3"	" 32,400 "	SH		DEFINED	" 32,400 "	0	0
PUBLIC SERVICE CO OF N MEX	COM	744499104	 68.7 	3	" 2,725 "	SH		DEFINED	" 2,725 "	0	0
PULTE CORP	COM	745867101	" 3,432.8 "	"2,3"	" 112,000 "	SH		DEFINED	" 112,000 "	0	0
QUALCOMM INC	COM	747525103	" 1,663.9 "	"1,3"	" 35,000 "	SH		DEFINED	" 35,000 "	0	0
QUANTA SERVICES	SUB NT CONV 4%07	74762EAA0	 452.8 	"1,3"	" 690,000 "	PRN		DEFINED
QUANTA SERVICES INC	COM	74762E102	 125.2 	"1,3"	" 8,785 "	SH		DEFINED	" 8,785 "	0	0
QUANTUM CORP-DLT & STORAGE	COM DSSG	747906204	 551.0 	3	" 67,525 "	SH		DEFINED	" 67,525 "	0	0
QWEST COMMUNICATIONS INTL	COM	749121109	" 4,175.0 "	"1,2,3"	" 250,000 "	SH		DEFINED	" 250,000 "	0	0
R.H. DONNELLEY CORP	COM NEW	74955W307	 109.7 	3	" 4,200 "	SH		DEFINED	" 4,200 "	0	0
RADIAN GROUP INC	COM	750236101	 964.4 	3	" 25,050 "	SH		DEFINED	" 25,050 "	0	0
RADIO UNICA COMMUNICATIONS	COM	75040Q106	 8.1 	"2,3"	" 5,000 "	SH		DEFINED	" 5,000 "	0	0
RATIONAL SOFTWAR	SUB BT CV 144A07	75409PAA1	" 1,471.0 "	"1,3"	" 2,015,000 "	PRN		DEFINED
RAYTHEON COMPANY	COM NEW	755111507	" 6,950.0 "	"2,3"	" 200,000 "	SH		DEFINED	" 200,000 "	0	0
REPUBLIC BANCORP	COM	760282103	 104.5 	3	" 7,300 "	SH		DEFINED	" 7,300 "	0	0
RUSSELL CORP	COM	782352108	" 1,416.9 "	"2,3"	" 103,200 "	SH		DEFINED	" 103,200 "	0	0
SANMINA CORP	COM	800907107	" 1,050.3 "	"1,3"	" 77,345 "	SH		DEFINED	" 77,345 "	0	0
SANMINA CORP	SUB NTCV 4.25%04	800907AB3	" 2,330.6 "	"1,3"	" 2,450,000 "	PRN		DEFINED
SCANA CORP                              	COM	80589M102	" 14,339.7 "	"2,3"	" 565,000 "	SH		DEFINED	" 565,000 "	0	0
SCHLUMBERGER LIMITED	COM	806857108	" 2,678.0 "	"1,3"	" 58,600 "	SH		DEFINED	" 58,600 "	0	0
SCHULMAN (A.) INC	COM	808194104	" 1,286.4 "	"2,3"	" 125,500 "	SH		DEFINED	" 125,500 "	0	0
SCIENTIFIC ATLANTA INC	COM	808655104	" 2,626.8 "	"2,3"	" 150,100 "	SH		DEFINED	" 150,100 "	0	0
SCUDDER INTERMEDIATE GOVT TR	SH BEN INT	811163104	" 1,071.1 "	"2,3"	" 149,800 "	SH		DEFINED	" 149,800 "	0	0
SEMTECH CORP	COM	816850101	" 1,291.3 "	"1,3"	" 45,500 "	SH		DEFINED	" 45,500 "	0	0
SEMTECH CORP	SUB NT CV 4.5%07	816850AD3	" 2,268.0 "	"1,3"	" 2,400,000 "	PRN		DEFINED
SERVICEMASTER COMPANY	COM	81760N109	 834.5 	3	" 75,250 "	SH		DEFINED	" 75,250 "	0	0
SHERWIN WILLIAMS CO	COM	824348106	" 3,197.5 "	"2,3"	" 143,900 "	SH		DEFINED	" 143,900 "	0	0
SHOPKO STORES INC	COM	824911101	" 2,218.4 "	"2,3"	" 267,600 "	SH		DEFINED	" 267,600 "	0	0
SIERRA PACIFIC RESOURCES	COM	826428104	" 1,923.7 "	"2,3"	" 127,400 "	SH		DEFINED	" 127,400 "	0	0
SIRIUS SATELLITE RADIO INC	COM	82966U103	" 8,449.7 "	"1,2,3"	" 2,353,672 "	SH		DEFINED	" 2,353,672 "	0	0
SLI INC	COM	78442T108	 26.4 	3	" 10,175 "	SH		DEFINED	" 10,175 "	0	0
SOUTHTRUST CORP	COM	844730101	 390.3 	3	" 15,325 "	SH		DEFINED	" 15,325 "	0	0
SOUTHWEST AIR CO	COM	844741108	 296.8 	"1,3"	" 20,000 "	SH		DEFINED	" 20,000 "	0	0
SOVEREIGN BANCORP INC	COM	845905108	" 2,470.0 "	"2,3"	" 260,000 "	SH		DEFINED	" 260,000 "	0	0
SPANISH BROADCASTING SYS CLA	CL A	846425882	" 1,735.6 "	"1,2,3"	" 244,800 "	SH		DEFINED	" 244,800 "	0	0
SPRINT CORP(PCS)	EQUITY UNIT	852061605	" 54,128.0 "	"1,2,3"	" 1,990,000 "	SH		DEFINED	" 1,990,000 "	0	0
SPRINT CORP-FON GROUP                   	COM FON GROUP	852061100	 68.6 	"3,4"	" 2,856 "	SH		DEFINED	" 2,856 "	0	0
SPRINT CORP-PCS GROUP	PCS COM SER 1	852061506	" 46,008.2 "	"1,2,3,4"	" 1,750,028 "	SH		DEFINED	" 1,750,028 "	0	0
STAR GAS PARTNER-SEN SUB UTS	SR SUB UN LTD	85512C204	 944.2 	"2,3"	" 42,434 "	SH		DEFINED	" 42,434 "	0	0
STILWELL FINANCIAL INC	COM	860831106	" 1,051.1 "	"1,2,3"	" 53,900 "	SH		DEFINED	" 53,900 "	0	0
STILWELL FINL	LYON ZERO 144A31	860831AA4	" 15,881.4 "	"1,2,3"	" 22,000,000 "	PRN		DEFINED
SUN MICROSYSTEMS INC	COM	866810104	" 1,356.3 "	"1,3"	" 164,000 "	SH		DEFINED	" 164,000 "	0	0
TEEKAY SHIPPING CORP	COM	Y8564W103	" 6,875.2 "	"2,3"	" 220,500 "	SH		DEFINED	" 220,500 "	0	0
TEJON RANCH	COM	879080109	 225.0 	"2,3"	" 10,000 "	SH		DEFINED	" 10,000 "	0	0
TELLABS INC	COM	879664100	 527.3 	3	" 53,375 "	SH		DEFINED	" 53,375 "	0	0
TEXTRON INC	COM	883203101	" 5,209.6 "	"2,3"	" 155,000 "	SH		DEFINED	" 155,000 "	0	0
THE GAP INC.                            	COM	364760108	" 1,756.1 "	"2,3"	" 146,950 "	SH		DEFINED	" 146,950 "	0	0
"THOUSAND TRAILS, INC"	COM	885502104	 918.0 	"2,3"	" 159,660 "	SH		DEFINED	" 159,660 "	0	0
TJX COS. INC.    NEW	COM	872540109	" 2,750.4 "	"1,2,3"	" 83,600 "	SH		DEFINED	" 83,600 "	0	0
TORCH OFFSHORE INC	COM	891019101	 740.0 	"2,3"	" 125,000 "	SH		DEFINED	" 125,000 "	0	0
TRANSOCEON SEDCO FOREX INC	ORD	G90078109	" 1,468.0 "	"1,3"	" 55,606 "	SH		DEFINED	" 55,606 "	0	0
TRENWICK GROUP LTD	COM	G9032C109	" 30,104.1 "	"2,3"	" 3,707,400 "	SH		DEFINED	" 3,707,400 "	0	0
TRIBUNE CO NEW	COM	896047107	" 4,396.0 "	"1,2,3"	" 140,000 "	SH		DEFINED	" 140,000 "	0	0
TRINITY INDUSTRIES                      	COM	896522109	 118.5 	3	" 5,475 "	SH		DEFINED	" 5,475 "	0	0
TRIZEC HAHN CORPORATION	SUB VTG	896938107	" 5,840.6 "	"2,3"	" 324,300 "	SH		DEFINED	" 324,300 "	0	0
TVX GOLD INC	COM NEW	87308K200	 240.1 	"2,3"	" 490,080 "	SH		DEFINED	" 490,080 "	0	0
TYCO INTERNATIONAL LTD	COM	902124106	" 4,777.5 "	"1,3"	" 105,000 "	SH		DEFINED	" 105,000 "	0	0
TYCO INTL LTD	LYON ZERO 20	902124AC0	" 43,275.0 "	"2,3"	" 57,700,000 "	PRN		DEFINED
UAL CORP                                	COM PAR $0.01	902549500	 328.7 	"2,3"	" 18,000 "	SH		DEFINED	" 18,000 "	0	0
UCAR INTERNATIONAL INC	COM	90262K109	 46.9 	3	" 5,275 "	SH		DEFINED	" 5,275 "	0	0
UGLY DUCKLING CORP	COM	903512101	 66.5 	"2,3"	" 24,000 "	SH		DEFINED	" 24,000 "	0	0
UNIFI INC	COM	904677101	" 1,936.0 "	"2,3"	" 236,100 "	SH		DEFINED	" 236,100 "	0	0
UNION PACIFIC                           	COM	907818108	" 1,150.2 "	3	" 24,525 "	SH		DEFINED	" 24,525 "	0	0
UNISYS CORP	COM	909214108	 433.0 	"2,3"	" 50,000 "	SH		DEFINED	" 50,000 "	0	0
UNITED PARCEL SERVICE -CL B	CL B	911312106	 311.9 	"1,3"	" 6,000 "	SH		DEFINED	" 6,000 "	0	0
UNIVERSAL CORP-VA	COM	913456109	 83.4 	3	" 2,500 "	SH		DEFINED	" 2,500 "	0	0
UNOCAL CORP                             	COM	915289102	" 1,183.0 "	"2,3"	" 36,400 "	SH		DEFINED	" 36,400 "	0	0
US BANCORP	COM NEW	902973304	" 2,994.3 "	"2,3"	" 135,000 "	SH		DEFINED	" 135,000 "	0	0
USFREIGHTWAYS CORPORATION	COM	916906100	 173.9 	3	" 5,550 "	SH		DEFINED	" 5,550 "	0	0
USX - MARATHON GROUP INC                	COM NEW	902905827	" 5,872.3 "	"2,3"	" 219,525 "	SH		DEFINED	" 219,525 "	0	0
USX - U S  STEEL GROUP	COM	90337T101	" 3,215.4 "	"2,3"	" 230,000 "	SH		DEFINED	" 230,000 "	0	0
VALERO ENERGY CORP	COM	91913Y100	" 9,828.0 "	"2,3"	" 280,000 "	SH		DEFINED	" 280,000 "	0	0
VENTAS INC	COM	92276F100	 116.6 	3	" 10,750 "	SH		DEFINED	" 10,750 "	0	0
VERIZON COMMUNICATIONS INC.	COM	92343V104	" 2,435.0 "	"1,3"	" 45,000 "	SH		DEFINED	" 45,000 "	0	0
VISTEON CORP -W/I	COM	92839U107	" 2,550.0 "	"2,3"	" 200,000 "	SH		DEFINED	" 200,000 "	0	0
VODAFONE AIRTOUCH PLC-SP ADR	SPONSORED ADR	92857W100	" 3,843.0 "	"2,3"	" 175,000 "	SH		DEFINED	" 175,000 "	0	0
W.P. STEWART & CO LTD	COM	G84922106	" 1,939.0 "	"2,3"	" 100,000 "	SH		DEFINED	" 100,000 "	0	0
WACHOVIA CORP	COM	929903102	" 1,550.0 "	"2,3"	" 50,000 "	SH		DEFINED	" 50,000 "	0	0
WACKENHUT CORP-CL B	COM SER B	929794303	 693.8 	"2,3"	" 37,500 "	SH		DEFINED	" 37,500 "	0	0
WAL MART STORES INC	COM	931142103	" 3,192.8 "	"1,3"	" 64,500 "	SH		DEFINED	" 64,500 "	0	0
WATSON PHARMACEUTICALS INC	COM	942683103	" 2,571.4 "	"1,3"	" 47,000 "	SH		DEFINED	" 47,000 "	0	0
WELLS FARGO & COMPANY	COM	949746101	" 4,445.0 "	"1,3"	" 100,000 "	SH		DEFINED	" 100,000 "	0	0
WESTERN RESOURCES INC	COM	959425109	 627.2 	"2,3"	" 37,900 "	SH		DEFINED	" 37,900 "	0	0
WEYERHAEUSER COMPANY	COM	962166104	 974.2 	"2,3"	" 20,000 "	SH		DEFINED	" 20,000 "	0	0
WHIRLPOOL CORPORATION	COM	963320106	 577.0 	3	" 10,425 "	SH		DEFINED	" 10,425 "	0	0
WILLIAMS COS INC	COM	969457100	 63.1 	"3,4"	" 2,312 "	SH		DEFINED	" 2,312 "	0	0
WISCONSIN ENERGY CORP                   	COM	976657106	" 1,959.8 "	"2,3"	" 87,100 "	SH		DEFINED	" 87,100 "	0	0
WORLDCOM INC-MCI GROUP	MCI GROUP COM	98157D304	 304.6 	"1,3"	" 20,000 "	SH		DEFINED	" 20,000 "	0	0
WORLDCOM INC-WORLDCOM GROUP             	WRLDCOM GP COM	98157D106	" 1,955.2 "	"2,3"	" 130,000 "	SH		DEFINED	" 130,000 "	0	0
XL CAPITAL LTD-CLASS A	CL A	G98255105	" 3,786.1 "	"1,2,3"	" 47,925 "	SH		DEFINED	" 47,925 "	0	0
YOUNG BROADCASTING INC-A	CL A	987434107	" 1,296.3 "	"2,3"	" 89,400 "	SH		DEFINED	" 89,400 "	0	0
</Table>

FORM 13F SUMMARY PAGE

Report Summary:

Number of Other Included Managers: 4

Form 13F Information Table Entry Total: 362

"Form 13F Information Table Value Total: 1,593,388.7(in thousands) "



List of Other Included Managers:

No. 	13F File Number		 Name

1	28-386		Continental Assurance Company
2	28-387		Continental Casualty Company
3	28-346		CNA Financial Corporation
4	28-172		The Continental Corporation