FORM 13F COVER PAGE

Report for the Calendar Year or Quarter Ended: December 31, 2000

Check here if Amendment [ x ]; Amendment Number:1
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:  Senior Vice President and Deputy General Counsel
Phone: (312) 822 4921
Signature, Place, and Date of Signing:
November 12, 2002
Chicago, Illinois,  60685

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

Report Type (Check only one.):

 [  X ]              13F HOLDINGS REPORT.

 [    ]              13F NOTICE.

 [    ]              13F COMBINATION REPORT.

List of Other Managers Reporting for this Manager:

Assets reported herein are described as having shared
investment discretion among Loews Corporation, CNA
Financial Corporation,The Continental Corporation,
Continental Casualty Company and Continental Assurance
Company. Each of the foregoing entities specifically disclaims
ownership of any securities in this report which are not
beneficially owned by that entity and states that such
assets are solely under the control of its board of directors.
The characterization of shared investment discretion with parent
holding companies is made solely as a consequence of SEC
interpretations regarding control of the subsidiary through
share ownership.  Loews Corporation owns approximately 90%
of the outstanding shares of CNA Financial Corporation;
CNA Financial Corporation owns 100% of the outstanding
shares of Continental Casualty Company and The Continental
Corporation; and Continental Casualty Company owns 100%
of the outstanding shares of Continental Assurance Company.
Loews Corporation will report separately on securities over which
it has investment discretion which are not part of this report.
<Page>

FORM 13F SUMMARY PAGE

Report Summary:

Number of Other Included Managers: 4

Form 13F Information Table Entry Total: 326

Form 13F Information Table Value Total: 2,378,483   (in thousands)



List of Other Included Managers:

No.     13F File Number  Name

   1     28-172         The Continental Corporation
   2     28-217         Loews Corporation
   3     28-386         Continental Assurance Company
   4     28-387         Continental Casualty Company
<Page>

<Table><S><C>
                                             13F INFORMATION TABLE
                              CLASS                  VALUE     OTHER                      PUT/  INVSTMT   VOTING AUTHORITY
NAME OF ISSUER                TITLE       CUSIP     (X1000)    MGRS     AMOUNT       TYPE CALL  DSCRETN   SOLE   SH  NONE

ACME COMMUNICATIONS INC          COM     004631107    6,156     4,2      674595       SH        DEFINED   674595
ADELPHIA COMMUNICATIONS         CL A     006848105   10,325     4,2      200000       SH        DEFINED   200000
ADVANCED ENERGY INDUSTRIES       COM     007973100    1,363     3,2       60570       SH        DEFINED   60570
ADVANTICA RESTAURANT GRP         COM     00758B109    2,016     4,2      3225087      SH        DEFINED  3225087
AFFIL COMPUTER                SB NT CV   008190AD2    7,145     3,2      4720000     PRN        DEFINED
AFFILIATED COMPUTER SVCS        CL A     008190100    5,249     3,2       86500       SH        DEFINED   86500
AGCO CORP                        COM     001084102    2,152     4,2      177500       SH        DEFINED   177500
AGILENT TECHNOLOGIES INC         COM     00846U101    1,095     3,2       20000       SH        DEFINED   20000
AGNICO-EAGLE MINES LTD           COM     008474108    1,440     4,2      240000       SH        DEFINED   240000
ALCOA INC                        COM     013817101    7,571     3,2      226000       SH        DEFINED   226000
ALLERGAN INC                     COM     018490102    3,282    3,4,2      33900       SH        DEFINED   33900
ALLERGAN INC                   LYONZR    018490AB8    6,210    3,4,2     9000000     PRN        DEFINED
ALLIN COMMUNICATIONS CORP        COM     019924109     425      4,2      340000       SH        DEFINED   340000
ALLTEL CORP                      COM     020039103    6,297    4,2,1     100852       SH        DEFINED   100852
AMBAC FINANCIAL GROUP INC        COM     023139108    5,248     4,2       90000       SH        DEFINED   90000
AMERADA HESS                     COM     023551104    9,133     4,2      125000       SH        DEFINED   125000
AMERICA ONLINE INC               COM     02364J104    2,192     3,2       63000       SH        DEFINED   63000
AMERICA WEST HOLDINGS           CL B     023657208     273      3,2       21278       SH        DEFINED   21278
AMERICAN BUSINESS FINL SVCS      COM     02476B106     146      4,2       25042       SH        DEFINED   25042
AMERICAN CAPITAL STRATEGIES      COM     024937104    4,093     4,2      162500       SH        DEFINED   162500
AMERICAN EXPRESS                 COM     025816109    4,670     3,2       85000       SH        DEFINED   85000
AMERICAN INTL GROUP INC          COM     026874107    1,349     4,2       13690       SH        DEFINED   13690
AMERICAN TOWER                 NT CV     029912AE2     880      3,2      960000      PRN        DEFINED
AMERICAN TOWER                NT CONV    029912AF9    1,320     3,2      1440000     PRN        DEFINED
AMR  CORP                        COM     001765106    3,135     4,2       80000       SH        DEFINED   80000
ANADARKO PETROLEUM CORP          COM     032511107    8,334     4,2      117250       SH        DEFINED   117250
ANHEUSER BUSCH CO                COM     035229103    1,597     4,2       35100       SH        DEFINED   35100
ANTEC CORP                       COM     03664P105     316       2        40000       SH        DEFINED   40000
ANTEC CORP                    SB NT CV   03664PAA3    1,187     4,2      2250000     PRN        DEFINED
AON CORP                         COM     037389103   17,639     4,2      515000       SH        DEFINED   515000
APPLIED MATERIALS INC.           COM     038222105    3,628     3,2       95000       SH        DEFINED   95000
ARCHER DANIELS                   COM     039483102   11,688     4,2      779231       SH        DEFINED   779231
ARGUSS COMMUNICATIONS INC        COM     040282105    5,185     4,2      568212       SH        DEFINED   568212
AT & T CORPORATION               COM     001957109   11,153    4,2,1     646565       SH        DEFINED   646565
AT HOME CORP                  SB DB CV   045919AC1    2,118     4,2      7000000     PRN        DEFINED
AT HOME CORP                 SUB NT CV   045919AF4   10,378    3,4,2    20500000     PRN        DEFINED
AT HOME CORP                  COM SERA   045919107    1,659     4,2      300000       SH        DEFINED   300000
BANK ONE CORP                    COM     06423A103     458      4,2       12500       SH        DEFINED   12500
BAYCORP HOLDINGS LTD             COM     072728108    2,560     3,2      386442       SH        DEFINED   386442
BEAR STEARNS COMPANIES INC       COM     073902108    3,548     4,2       70000       SH        DEFINED   70000
BELO CORPORATION              COM SERA   080555105    3,200     4,2      200000       SH        DEFINED   200000
BEVERLY ENTERPRISES INC        COM NEW   087851309    6,221     4,2      759900       SH        DEFINED   759900
BOEING COMPANY                   COM     097023105    6,600     4,2      100000       SH        DEFINED   100000
BOWATER INC                      COM     102183100    2,920     4,2       51800       SH        DEFINED   51800
BRIGGS & STRATTON CORP           COM     109043109     257      4,2       5800        SH        DEFINED    5800
BUCKHEAD AMERICA CORP            COM     11835A105     78       4,2       21579       SH        DEFINED   21579
BURLINGTON NORTHERN SANTA FE     COM     12189T104    2,010     4,2       71000       SH        DEFINED   71000
BURLINGTON RESOURCES INC         COM     122014103   10,605     4,2      210000       SH        DEFINED   210000
CABOT OIL & GAS CORP            CL A     127097103    1,095     4,2       35100       SH        DEFINED   35100
CALPINE CORPORATION              COM     131347106    5,855    3,4,2     126800       SH        DEFINED   126800
CANADIAN NATL RAILWAY CO         COM     136375102      7       3,2        224        SH        DEFINED    224
CAPITAL ONE FINANCIAL CORP       COM     14040H105    3,291     4,2       50000       SH        DEFINED   50000
CARDINAL HEALTH  INC.            COM     14149Y108    5,940     3,2       59625       SH        DEFINED   59625
CATELLUS DEVELOPMENT CORP        COM     149111106    1,885     4,2      107724       SH        DEFINED   107724
CELESTICA INC                SUB VTGSHS  15101Q108   24,413    3,4,2     450000       SH        DEFINED   450000
CELESTICA INC                  LYONZR    15101QAA6   57,638    3,4,2    134380000    PRN        DEFINED
CENTRAL VERMONT PUB SERV         COM     155771108     991      4,2       81300       SH        DEFINED   81300
CH ENERGY GROUP INC.             COM     12541M102    1,137     4,2       25400       SH        DEFINED   25400
CISCO SYSTEMS INC                COM     17275R102    5,738     3,2      150000       SH        DEFINED   150000
CITIGROUP INC                    COM     172967101    5,515     3,2      108000       SH        DEFINED   108000
CLEAR CHANNEL COMM               COM     184502102    6,828    3,4,2     140000       SH        DEFINED   140000
CLOROX CO                        COM     189054109    2,840     4,2       80000       SH        DEFINED   80000
CNA INCOME SHARES INC            COM     126119106     937      4,2     137472.81     SH        DEFINED 137472.81
CNA SURETY CORPORATION           COM     12612L108   390,808   4,2,1    27425147      SH        DEFINED  27425147
COLT TELECOM GROUP               ADR     196877104     263      4,2       3000        SH        DEFINED    3000
COMCAST CORP                  CL A SPL   200300200    5,010     3,2      120000       SH        DEFINED   120000
COMMUNICATION INTELLIGENCE       COM     20338K106     680       2       660000       SH        DEFINED   660000
CONECTIV                         COM     206829103     766      4,2       38200       SH        DEFINED   38200
CONOCO INC                      CL A     208251306    4,008     4,2      140000       SH        DEFINED   140000
CONSOLIDATED FREIGHTWAYS         COM     209232107     670      4,2      159900       SH        DEFINED   159900
CONSTELLATION ENERGY GRP         COM     210371100    6,462     4,2      143400       SH        DEFINED   143400
CONVERGYS CORP                   COM     212485106     453       2        10000       SH        DEFINED   10000
CORN PRODUCTS INTL INC           COM     219023108    3,764     4,2      129500       SH        DEFINED   129500
CORNING INC.                     COM     219350105    6,824    3,4,2     124600       SH        DEFINED   124600
CYANOTECH CORP                  COM      232437202     473      2,1      605155       SH        DEFINED   605155
CYPRESS SEMICON              SUB NT CV   232806AE9    3,172     3,2      4100000     PRN        DEFINED
CYPRESS SEMICONDUCTOR            COM     232806109    1,309     3,2       66500       SH        DEFINED   66500
D.R. HORTON INC                  COM     23331A109    3,543     4,2      145000       SH        DEFINED   145000
DEAN FOODS CO                    COM     242361103    1,169     4,2       38100       SH        DEFINED   38100
DEERE & CO                       COM     244199105    3,207     4,2       70000       SH        DEFINED   70000
DEL MONTE FOODS CO               COM     24522P103    1,772     4,2      244400       SH        DEFINED   244400
DELPHI AUTOMOTIVE SYSTEMS        COM     247126105    1,431     4,2      127200       SH        DEFINED   127200
DELPHI FINANCIAL GROUP          CL A     247131105    4,235     4,2      110000       SH        DEFINED   110000
DELTA AIR INC                    COM     247361108    4,050     4,2       80700       SH        DEFINED   80700
DOLLAR THRIFTY AUTOMOTIVE        COM     256743105    2,156      2       115000       SH        DEFINED   115000
DOW CHEMICAL CORP                COM     260543103    4,029     4,2      110000       SH        DEFINED   110000
DU PONT DE NEMOURS E.I.          COM     263534109    1,449     4,2       30000       SH        DEFINED   30000
EAST-WEST BANCORP INC.           COM     27579R104   31,922     4,2      1280100      SH        DEFINED  1280100
ECHOSTAR COMM                SUB NT CV   278762AB5     975      3,2      1300000     PRN        DEFINED
ECHOSTAR COMMUNICATIONS         CL A     278762109     501      3,2       22030       SH        DEFINED   22030
EDISON INTERNATIONAL             COM     281020107     531      4,2       34000       SH        DEFINED   34000
EMC CORPORATION                  COM     268648102    4,416     3,2       66400       SH        DEFINED   66400
EMERSON ELECTRIC COMPANY         COM     291011104    3,862     3,2       49000       SH        DEFINED   49000
ENCOMPASS SERVICES CORP          COM     29255U104     346      4,2       68397       SH        DEFINED   68397
ENERGY EAST CORPORATION          COM     29266M109    2,370     4,2      120400       SH        DEFINED   120400
ENGEL GENERAL DEVELOPERS         ORD     M40515104     465      4,2      120000       SH        DEFINED   120000
ENRON CORP                       COM     293561106    9,975     3,2      120000       SH        DEFINED   120000
EQUANT NV                    NY REG SHS  294409107    1,433     3,2       55000       SH        DEFINED   55000
ERICSSON (LM) TEL             ADR CL B   294821400     168       2        15000       SH        DEFINED   15000
ESTEE LAUDER COMPANIES          CL A     518439104     44       4,2       1000        SH        DEFINED    1000
EXCITE@HOME                   SB NT CV   045919AD9   10,378    3,4,2    20500000     PRN        DEFINED
EXIGENT INTERNATIONAL INC        COM     302056106      0       3,2        125        SH        DEFINED    125
EXODUS COMMUNICATIONS INC        COM     302088109     40       4,2       2000        SH        DEFINED    2000
FEDERAL HM LOAN MORTGAGE CORP    COM     313400301    3,168     3,2       46000       SH        DEFINED   46000
FEDERATED DEPART STORES INC      COM     31410H101     914      4,2       26100       SH        DEFINED   26100
FIRST DATA CORP                  COM     319963104    3,952     3,2       75000       SH        DEFINED   75000
FIRST UNION CORP                 COM     337358105    2,781     4,2      100000       SH        DEFINED   100000
FORD MOTOR COMPANY              COM      345370860    7,302     4,2      311564       SH        DEFINED   311564
FOX ENTERTAINMENT GRP INC       CL A     35138T107     894      4,2       50000       SH        DEFINED   50000
FPL GROUP                        COM     302571104    3,946     4,2       55000       SH        DEFINED   55000
FRIEDMAN BILLINGS RAMSEY        CL A     358433100     335      4,2       51000       SH        DEFINED   51000
GEN SEMICONDUCTR              SUB NT CV  370787AB9     643      3,2      1000000     PRN        DEFINED
GENENTECH INC                  COM NEW   368710406    2,364     3,2       29000       SH        DEFINED   29000
GENERAL COMMUNICATION           CL A     369385109     55       3,2       7913        SH        DEFINED    7913
GENERAL ELECTRIC CO              COM     369604103    6,184     3,2      129000       SH        DEFINED   129000
GENERAL MOTORS CORP              COM     370442105    3,951     4,2       77563       SH        DEFINED   77563
GENERAL MOTORS CORP             CL H     370442832    5,957    3,4,2     259000       SH        DEFINED   259000
GENERAL SEMICONDUCTOR INC        COM     370787103     268      3,2       42900       SH        DEFINED   42900
GENZYME CORP - GENL DIVISION    COM      372917104    5,594     3,2       62200       SH        DEFINED   62200
GENZYME SURGICAL PRODUCTS       COM      372917609     78       3,2       11150       SH        DEFINED   11150
GENZYME-MOLECULAR ONCOLOGY       COM     372917500     62       3,2       6700        SH        DEFINED    6700
GEORGIA-PACIFIC CORPORATION     COM      373298108    3,797     4,2      122000       SH        DEFINED   122000
GILLETTE CO.                     COM     375766102    2,673     3,2       74000       SH        DEFINED   74000
GLAMIS GOLD LTD          SV      COM     376775102    1,127     4,2      721240       SH        DEFINED   721240
GLOBAL CROSSING LTD              COM     G3921A100   276,835    4,2     19342157      SH        DEFINED  19342157
GOLD STANDARD INC               COM      380724302     78       4,2      82812.5      SH        DEFINED  82812.5
GRAPHIC PACKAGING INTL           COM     388690109      0       2,1         2         SH        DEFINED     2
GULF CANADA RES LTD              ORD     40218L305    3,905     4,2      771400       SH        DEFINED   771400
HAIN CELESTIAL GROUP INC         COM     405217100    1,463     3,2       45000       SH        DEFINED   45000
HAYES LEMMERZ INTL INC COM       COM     420781106    1,902      2       284500       SH        DEFINED   284500
HEALTH CARE PPTYS INVEST INC     COM     421915109    1,912     4,2       64000       SH        DEFINED   64000
HEALTHCARE REALTY TRUST INC      COM     421946104    4,698     4,2      221100       SH        DEFINED   221100
HEALTHSOUTH CORP              SB DB CV   421924AF8    4,413     4,2      5000000     PRN        DEFINED
HEALTHSOUTH CORP.                COM     421924101    8,164     4,2      500500       SH        DEFINED   500500
HEARST-ARGYLE TELEVISION INC     COM     422317107    4,903     4,2      239900       SH        DEFINED   239900
HERCULES INC                     COM     427056106    1,525     4,2       80000       SH        DEFINED   80000
HILTON HOTELS CORP               COM     432848109    6,353     4,2      605000       SH        DEFINED   605000
HOME DEPOT                       COM     437076102     457       2        10000       SH        DEFINED   10000
HOMESTAKE MINING CO              COM     437614100    1,256     4,2      300000       SH        DEFINED   300000
HORIZON GROUP PROPERTIES         COM     44041U102      2       4,2        630        SH        DEFINED    630
HOUSEHOLD INTL INC               COM     441815107   15,840     4,2      288000       SH        DEFINED   288000
IKON MBIA INC.                   COM     55262C100    2,965     4,2       40000       SH        DEFINED   40000
IMC GLOBAL INC                   COM     449669100    1,038     4,2       66700       SH        DEFINED   66700
INGERSOLL RAND CO                COM     456866102    5,528     4,2      132000       SH        DEFINED   132000
INSWEB CORPORATION               COM     45809K103    1,198     4,2      1368967      SH        DEFINED  1368967
INTEL CORP                       COM     458140100    2,093     3,2       69200       SH        DEFINED   69200
INTL BUSINESS MACHINE            COM     459200101   19,414    3,4,2     228400       SH        DEFINED   228400
INTERNATIONAL PAPER CO.          COM     460146103    4,081     4,2      100000       SH        DEFINED   100000
INTERSTATE BAKERIES              COM     46072H108    2,801     4,2      199200       SH        DEFINED   199200
INTL RECTIFIER               SUB NT CV   460254AD7    3,112     3,2      4680000     PRN        DEFINED
INTL RECTIFIER CORP              COM     460254105    1,338     3,2       44600       SH        DEFINED   44600
IVAX CORP                        COM     465823102    3,658     3,2       95500       SH        DEFINED   95500
IVAX CORP                    SR SUB CV   465823AB8    5,380     3,2      4300000     PRN        DEFINED
JOHNSON & JOHNSON                COM     478160104    4,012     3,2       38184       SH        DEFINED   38184
JPS INDUSTRIES INC               COM     46624E405    1,991     4,2      419243       SH        DEFINED   419243
KEYSPAN CORPORATION              COM     49337W100    2,754     4,2       65000       SH        DEFINED   65000
KINROSS GOLD CORP                COM     496902107    1,135     4,2      2100000      SH        DEFINED  2100000
KOHLS CORP                       COM     500255104    6,820    3,4,2     111800       SH        DEFINED   111800
KROGER COMPANY                   COM     501044101   12,968    3,4,2     479200       SH        DEFINED   479200
KULICKE & SOFFA INDUSTRIES    SUB NT CV  501242AE1    2,510     3,2      3450000     PRN        DEFINED
KULICKE & SOFFA INDUSTRIES       COM     501242101     696      3,2       61900       SH        DEFINED   61900
L-3 COMM HLDGS                SR SB CV   502424AA2    4,442     3,2      4000000     PRN        DEFINED
L-3 COMMUNICATIONS CORP          COM     502424104    2,526     3,2       32800       SH        DEFINED   32800
LAM RESEARCH CORP                COM     512807108    1,289     3,2       88900       SH        DEFINED   88900
LAMAR ADVERTISIN               NT CV     512815AF8    2,520     3,2      2450000     PRN        DEFINED
LAMAR ADVERTISING CO            CL A     512815101    1,567     3,2       40600       SH        DEFINED   40600
LATTICE SEMICOND             SUB NT CV   518415AC8    2,824     3,2      2600000     PRN        DEFINED
LIBERTY MEDIA                   COM      001957208    7,297     3,2      538048       SH        DEFINED   538048
LIBERTY PROPERTY TRUST       SH BEN INT  531172104   19,642     4,2      687700       SH        DEFINED   687700
LIGHTSPAN INC                    COM     53226T103     11       3,2       7500        SH        DEFINED    7500
LILLY (ELI) & CO.                COM     532457108    3,518     3,2       37800       SH        DEFINED   37800
LOCKHEED MARTIN CORP             COM     539830109    4,753     4,2      140000       SH        DEFINED   140000
LORAL SPACE & COMM               COM     G56462107     892      4,2      279900       SH        DEFINED   279900
LSI CORP                         COM     502161102    2,594     3,2      151800       SH        DEFINED   151800
LSI LOGIC                     SB NT CV   502161AD4    3,508     3,2      2800000     PRN        DEFINED
LUBRIZOL CORP                    COM     549271104    3,154     4,2      122500       SH        DEFINED   122500
LUCENT TECHNOLOGIES              COM     549463107    2,093     4,2      155000       SH        DEFINED   155000
MASTEC INC                       COM     576323109     200       2        10000       SH        DEFINED   10000
MAY DEPARTMENT STORES CO         COM     577778103    1,310     4,2       40000       SH        DEFINED   40000
MCCORMICK & CO               COM NON VTG 579780206    1,406     4,2       39000       SH        DEFINED   39000
MCLEODUSA INC-CL A              CL A     582266102     283       2        20000       SH        DEFINED   20000
MEDICALOGIC/MEDSCAPE INC         COM     584642102    4,416     4,2      1910000      SH        DEFINED  1910000
MEDTRONIC INC                    COM     585055106    6,641     3,2      110000       SH        DEFINED   110000
MELLON FINANCIAL CORP            COM     58551A108    4,329     3,2       88000       SH        DEFINED   88000
MERCATOR SOFTWARE INC            COM     587587106     403      4,2       75000       SH        DEFINED   75000
MERCURY INTERACT              SB NT CV   589405AA7    4,347     3,2      4150000     PRN        DEFINED
MERCURY INTERACT              SB NT CV   589405AB5     524      3,2      500000      PRN        DEFINED
MERCURY INTERACTIVE CORP         COM     589405109    3,276     3,2       36300       SH        DEFINED   36300
MICRON TECHNOLOGY INC            COM     595112103     355      3,2       10000       SH        DEFINED   10000
MICROSOFT CORP                   COM     594918104    2,088     3,2       48000       SH        DEFINED   48000
MITCHELL ENERGY & DEV           CL A     606592202    1,225     4,2       20000       SH        DEFINED   20000
MOLEX - CLASS A NON-VOTING      CL A     608554200    2,213     3,2       86993       SH        DEFINED   86993
MOTOROLA INC                     COM     620076109    2,572     3,2      127000       SH        DEFINED   127000
MSDW ASIA PACIFIC FUND           COM     61744U106    2,662     4,2      306400       SH        DEFINED   306400
MSDW INDIA INVESTMENT FUND       COM     61745C105     996      4,2       90000       SH        DEFINED   90000
MUNIYIELD QUALITY FUND           COM     626302103    1,819     4,2      141900       SH        DEFINED   141900
NATIONWIDE HEALTH PPTYS INC      COM     638620104     794      4,2       61700       SH        DEFINED   61700
NEIMAN MARCUS GROUP             CL B     640204301    3,273     4,2       98800       SH        DEFINED   98800
NETOPIA INC                      COM     64114K104     69       2,1       15957       SH        DEFINED   15957
NEWHALL LAND & FARMING CO      DEP REC   651426108    1,628     4,2       70000       SH        DEFINED   70000
NEWMONT MINING CORP              COM     651639106    1,280     4,2       75000       SH        DEFINED   75000
NEWS CORP LTD                   ADR      652487703    4,876     4,2      151200       SH        DEFINED   151200
NEWS CORP LTD                  ADR PFD   652487802   15,403     4,2      530000       SH        DEFINED   530000
NEXTEL COMMNS, INC              CL A     65332V103     493      3,2       19925       SH        DEFINED   19925
NIAGARA MOHAWK HOLDINGS          COM     653520106    4,450     4,2      266700       SH        DEFINED   266700
NOKIA CORP                       ADR     654902204    2,393     3,2       55000       SH        DEFINED   55000
NORFOLK SOUTHERN CORP.           COM     655844108    6,922     4,2      520000       SH        DEFINED   520000
NORTH FORK BANCORPORATION        COM     659424105    4,845     4,2      197250       SH        DEFINED   197250
NORTHROP GRUMMAN CORP            COM     666807102    2,490     4,2       30000       SH        DEFINED   30000
OGE ENERGY CORP                  COM     670837103    1,938     4,2       79300       SH        DEFINED   79300
ON COMMAND CORPORATION           COM     682160106    3,084     4,2      352480       SH        DEFINED   352480
ON COMMAND CORPORATION          WT B     682160122     154      4,2      123130       SH   CALL DEFINED
OVERSEAS SHIPHOLDING GROUP       COM     690368105    2,897     4,2      126300       SH        DEFINED   126300
OWENS-ILL INC                 PFD CONV   690768502     267      4,2       20500       SH        DEFINED   20500
P G & E CORPORATION              COM     69331C108     600      4,2       30000       SH        DEFINED   30000
PACTIV CORPORATION               COM     695257105    1,052     4,2       85000       SH        DEFINED   85000
PALL CORP                        COM     696429307    1,598     4,2       75000       SH        DEFINED   75000
PATHMARK STORES INC              COM     70322A101   17,604     4,2      1066932      SH        DEFINED  1066932
PENNEY (J.C.) CO.  INC.          COM     708160106    1,958     4,2      180000       SH        DEFINED   180000
PEPSI BOTTLING GROUP INC         COM     713409100    5,176     4,2      130000       SH        DEFINED   130000
PEPSICO INCORPORATED             COM     713448108    4,064     3,2       82000       SH        DEFINED   82000
PFIZER INC                       COM     717081103    6,118     3,2      133000       SH        DEFINED   133000
PHARMACIA CORPORATION            COM     71713U102    4,880     3,2       80000       SH        DEFINED   80000
PILGRIMS PRIDE CORP-CL B        CL B     721467108     560      4,2       71700       SH        DEFINED   71700
PITNEY-BOWES  INC                COM     724479100    1,656      2        50000       SH        DEFINED   50000
PLACER DOME INC                  COM     725906101    6,067     4,2      630352       SH        DEFINED   630352
PLC CAP TRUST II             INC PRIDES  743674202    3,713    3,4,2      72100       SH        DEFINED   72100
POTASH CORP OF SASKATCHEWAN      COM     73755L107    4,534     4,2       57900       SH        DEFINED   57900
POTOMAC ELECTRIC POWER           COM     737679100    5,575     4,2      225600       SH        DEFINED   225600
PRAXAIR INC                      COM     74005P104    2,574     4,2       58000       SH        DEFINED   58000
PRIME HOSPITALITY CORP           COM     741917108     946      4,2       81375       SH        DEFINED   81375
PRIME RETAIL INC                 COM     741570105      6       4,2       12600       SH        DEFINED   12600
PROTECTIVE LIFE CORP             COM     743674103    3,135    3,4,2      97200       SH        DEFINED   97200
QUALCOMM INC                     COM     747525103    1,233     3,2       15000       SH        DEFINED   15000
QUANTA SERVICES              SUB NT CONV 74762EAA0    3,929     3,2      4680000     PRN        DEFINED
QUANTA SERVICES INC              COM     74762E102    2,102     3,2       65300       SH        DEFINED   65300
QWEST COMMUNICATIONS INTL        COM     749121109     429      2,1       10506       SH        DEFINED   10506
RADIO ONE INC                   CL A     75040P108     90       2,1       8391        SH        DEFINED    8391
RADIO ONE INC                CL D NON VT 75040P405     185      2,1       16782       SH        DEFINED   16782
RADIO UNICA COMMUNICATIONS       COM     75040Q106     19       4,2       5000        SH        DEFINED    5000
RADISYS CORP                     COM     750459109    1,273     3,2       49200       SH        DEFINED   49200
RADISYS CORP                 SUB NT CV   750459AA7    1,812     3,2      2730000     PRN        DEFINED
RATIONAL SOFTWAR             SUB NT CV   75409PAA1    4,613     3,2      3600000     PRN        DEFINED
RATIONAL SOFTWARE CORP          COM      75409P202    3,726     3,2       95700       SH        DEFINED   95700
RAYTHEON CO. COM                CL B     755111408    3,650     4,2      117500       SH        DEFINED   117500
REPUBLIC SERVICES INC            COM     760759100     584      4,2       34000       SH        DEFINED   34000
RGS ENERGY GROUP INC             COM     74956K104    2,430     4,2       74900       SH        DEFINED   74900
RHYTHMS NETCONNECTIONS           COM     762430205      6       4,2       5000        SH        DEFINED    5000
ROCKWELL INTL CORP               COM     773903109    5,077     4,2      106600       SH        DEFINED   106600
ROLLINS TRUCK LEASING CORP       COM     775741101     346       2        43200       SH        DEFINED   43200
SAFEWAY INC                     COM      786514208    5,000     3,2       80000       SH        DEFINED   80000
SCANA CORP                       COM     80589M102   16,280     4,2      550700       SH        DEFINED   550700
SCHERING PLOUGH                  COM     806605101    6,243     3,2      110000       SH        DEFINED   110000
SCHLUMBERGER LIMITED             COM     806857108    4,365     3,2       54600       SH        DEFINED   54600
SCHULMAN (A.) INC                COM     808194104     534      4,2       46400       SH        DEFINED   46400
SCI SYSTEMS INC              SUB NT CONV 783890AF3    3,284     3,2      4150000     PRN        DEFINED
SCI SYSTEMS INC.                 COM     783890106    1,396     3,2       52940       SH        DEFINED   52940
SEARS ROEBUCK & COMPANY          COM     812387108    4,879     4,2      140400       SH        DEFINED   140400
SEMTECH CORP                     COM     816850101    1,077     3,2       48800       SH        DEFINED   48800
SEMTECH CORP                 SUB NT CV   816850AD3    1,791     3,2      2400000     PRN        DEFINED
SHERWIN WILLIAMS CO              COM     824348106    2,434     4,2       92500       SH        DEFINED   92500
SHOPKO STORES INC                COM     824911101     585      4,2      116900       SH        DEFINED   116900
SIEBEL SYSTEMS INC               COM     826170102    1,016     3,2       15000       SH        DEFINED   15000
SIERRA PACIFIC RESOURCES         COM     826428104    1,221     4,2       76000       SH        DEFINED   76000
SIRIUS SATELLITE RADIO INC       COM     82966U103   70,462     4,2      2353672      SH        DEFINED  2353672
SOLECTRON CORP                   COM     834182107   52,523    3,4,2     1565400      SH        DEFINED  1565400
SOLECTRON CORP                 LYONZR    834182AK3   64,544    3,4,2    115000000    PRN        DEFINED
SOLECTRON CORP                 LYONZR    834182AL1   80,126    3,4,2    156410000    PRN        DEFINED
SONIC AUTOMOTIVE INC            CL A     83545G102     688       2       100000       SH        DEFINED   100000
SOUTHERN COMPANY                 COM     842587107     582      4,2       17500       SH        DEFINED   17500
SPANISH BROADCASTING SYS        CL A     846425882    1,224     4,2      244800       SH        DEFINED   244800
SPRINT CORP                     COM      852061100     58       2,1       2856        SH        DEFINED    2856
SPRINT CORP (PCS GROUP)       COM SER 1  852061506     644    3,4,2,1     31528       SH        DEFINED   31528
SPX CORP                         COM     784635104    1,947     3,2       18000       SH        DEFINED   18000
STAR GAS PARTNER             SR SUB UN   85512C204     385      4,2       42434       SH        DEFINED   42434
STMICROELECTRON                LYONZR    861012AB8   26,405    3,4,2    22050000     PRN        DEFINED
STMICROELECTRON               SR CV ZR   861012AC6   16,262    3,4,2    24500000     PRN        DEFINED
STMICROELECTRONICS NV            COM     861012102   25,634    3,4,2     598760       SH        DEFINED   598760
STORAGE TECHNOLOGY              COM      862111200     25       3,2       2754        SH        DEFINED    2754
SUN MICROSYSTEMS INC             COM     866810104    3,763     3,2      135000       SH        DEFINED   135000
SYBASE INC                       COM     871130100    2,154     4,2      108730       SH        DEFINED   108730
T/R SYSTEMS INC                  COM     87263U102     320      2,1       50243       SH        DEFINED   50243
TAUBMAN CENTERS INC              COM     876664103    8,203      2       750000       SH        DEFINED   750000
TECNOMATIX TECHNOLOGIES          ORD     M8743P105      5       4,2       1000        SH        DEFINED    1000
TEEKAY SHIPPING CORP             COM     Y8564W103    6,882     4,2      181100       SH        DEFINED   181100
TELLABS INC                      COM     879664100    4,577     3,2       81000       SH        DEFINED   81000
TERRA INDUSTRIES INC             COM     880915103     341      4,2      136300       SH        DEFINED   136300
TEXAS INSTRUMENTS INC            COM     882508104     663      3,2       14000       SH        DEFINED   14000
TEXTRON INC                      COM     883203101   12,090     4,2      260000       SH        DEFINED   260000
THE HEALTHCARE COMPANY           COM     404119109    3,521     3,2       80000       SH        DEFINED   80000
THOUSAND TRAILS, INC             COM     885502104     798      4,2      159660       SH        DEFINED   159660
TOWER AUTOMOTIVE INC             COM     891707101    1,067     4,2      118600       SH        DEFINED   118600
TRANSOCEON SEDCO FOREX           ORD     G90078109    2,558     3,2       55606       SH        DEFINED   55606
TRENWICK GROUP LTD               COM     G9032C109   91,988     4,2      3707400      SH        DEFINED  3707400
TRIBUNE CO NEW                   COM     896047107    3,803     3,2       90000       SH        DEFINED   90000
TRIQUINT SEMICON              SB NT CV   89674KAA1     950      3,2      1080000     PRN        DEFINED
TRIQUINT SEMICON             SUB NT CV   89674KAB9    2,922     3,2      3320000     PRN        DEFINED
TRIQUINT SEMICONDUCTOR INC       COM     89674K103    2,184     3,2       50000       SH        DEFINED   50000
TRIZEC HAHN CORPORATION        SUB VTG   896938107    4,386     4,2      290000       SH        DEFINED   290000
TRW INC                          COM     872649108    2,325     4,2       60000       SH        DEFINED   60000
TVX GOLD INC                   COM NEW   87308K200     821      4,2      500380       SH        DEFINED   500380
TXU CORPORATION                  COM     873168108     798      4,2       18000       SH        DEFINED   18000
TYCO INTERNATIONAL LTD           COM     902124106   44,416    3,4,2     799500       SH        DEFINED   799500
TYCO INTL LTD                  LYONZR    902124AA4   115,688   3,4,2    150000000    PRN        DEFINED
U.S. BANCORP                     COM     902973106    5,254     4,2      180000       SH        DEFINED   180000
UAL CORP                        COM      902549500    1,947     4,2       50000       SH        DEFINED   50000
UGLY DUCKLING CORP               COM     903512101     197      4,2       50000       SH        DEFINED   50000
UNISYS CORP                      COM     909214108    4,899     4,2      335000       SH        DEFINED   335000
UNITED TECHNOLOGIES CORP.        COM     913017109    1,573     4,2       20000       SH        DEFINED   20000
UNOCAL CORP                      COM     915289102    3,923     4,2      101400       SH        DEFINED   101400
USX - MARATHON GROUP INC        COM      902905827    4,995     4,2      180000       SH        DEFINED   180000
VERIZON COMMUNICATIONS INC.      COM     92343V104    2,256     3,2       45000       SH        DEFINED   45000
VISTEON CORP -W/I                COM     92839U107    2,300     4,2      200000       SH        DEFINED   200000
VODAFONE AIRTOUCH PLC            ADR     92857W100   18,292    3,4,2     505950       SH        DEFINED   505950
VORNADO REALTY TRUST         SH BEN INT  929042109    1,341     4,2       35000       SH        DEFINED   35000
WAL MART STORES INC              COM     931142103    3,427     3,2       64500       SH        DEFINED   64500
WATSON PHARMACEUTICALS INC       COM     942683103    2,048     3,2       40000       SH        DEFINED   40000
WELLS FARGO & COMPANY            COM     949746101    5,569     3,2      100000       SH        DEFINED   100000
WESTERN RESOURCES INC            COM     959425109    6,699     4,2      270000       SH        DEFINED   270000
WGL HOLDINGS INC                 COM     92924F106     822      4,2       27000       SH        DEFINED   27000
WILLIAMS COS INC                 COM     969457100    3,567    3,2,1      89312       SH        DEFINED   89312
WIND RIVER SYSTEMS               COM     973149107    2,841     3,2       83240       SH        DEFINED   83240
WIND RIVER SYSTM             SUB NT CONV 973149AC1    3,539     3,2      3078000     PRN        DEFINED
WISCONSIN ENERGY CORP            COM     976657106    1,965     4,2       87100       SH        DEFINED   87100
XTRA CORP                        COM     984138107     772      3,2       16089       SH        DEFINED   16089
YOUNG BROADCASTING INC          CL A     987434107    2,180     4,2       65100       SH        DEFINED   65100
</Table>