FORM 13F COVER PAGE

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

Check here if Amendment [   ]; Amendment Number:
This Amendment (Check only one.):  [    ]  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:
February 12, 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.
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                                                                  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   SHRED NONE
-----------------------------------------------------------------------------------------------------------------------------------
ACME COMMUNICATIONS INC     COM                004631107    6,155.7   2,3       674,595.0    SH          DEFINED    674,595 0  0
ADELPHIA COMM-CL A          CL A               006848105   10,325.0   2,3       200,000.0    SH          DEFINED    200,000 0  0
ADVANCED ENERGY INDUSTRIES  COM                007973100    1,362.8   1,3        60,570.0    SH          DEFINED     60,570 0  0
ADVANTICA RESTAURANT GROUP  COM                00758B109    2,015.7   2,3     3,225,087.0    SH          DEFINED  3,225,087 0  0
AFFIL COMPUTER              SB NT CV 4%05      008190AD2    7,144.9   1,3     4,720,000.0    PRN         DEFINED
AFFILIATED COMPUTER SVCS-A  CL A               008190100    5,249.4   1,3        86,500.0    SH          DEFINED     86,500 0  0
AGCO CORP                   COM                001084102    2,152.2   2,3       177,500.0    SH          DEFINED    177,500 0  0
AGILENT TECHNOLOGIES INC    COM                00846U101    1,095.0   1,3        20,000.0    SH          DEFINED     20,000 0  0
AGNICO-EAGLE MINES LTD      COM                008474108    1,440.0   2,3       240,000.0    SH          DEFINED    240,000 0  0
ALCOA INC                   COM                013817101    7,571.0   1,3       226,000.0    SH          DEFINED    226,000 0  0
ALLERGAN INC                COM                018490102    3,281.9   1,2,3      33,900.0    SH          DEFINED     33,900 0  0
ALLERGAN INC                LYON ZERO 144A20   018490AB8    6,210.0   1,2,3   9,000,000.0    PRN         DEFINED
ALLIN COMMUNICATIONS CORP   COM                019924109      425.0   2,3       340,000.0    SH          DEFINED    340,000 0  0
ALLTEL CORP                 COM                020039103    6,296.9   2,3,4     100,852.0    SH          DEFINED    100,852 0  0
AMBAC FINANCIAL GROUP INC   COM                023139108    5,248.1   2,3        90,000.0    SH          DEFINED     90,000 0  0
AMERADA HESS                COM                023551104    9,132.8   2,3       125,000.0    SH          DEFINED    125,000 0  0
AMERICA ONLINE INC          COM                02364J104    2,192.4   1,3        63,000.0    SH          DEFINED     63,000 0  0
AMERICA WEST HOLDINGS       CL B               023657208      272.6   1,3        21,278.0    SH          DEFINED     21,278 0  0
AMERICAN BUSINESS FINL SVCS COM                02476B106      145.5   2,3        25,042.0    SH          DEFINED     25,042 0  0
AMERICAN CAPITAL STRATEGIES COM                024937104    4,092.9   2,3       162,500.0    SH          DEFINED    162,500 0  0
AMERICAN EXPRESS            COM                025816109    4,669.7   1,3        85,000.0    SH          DEFINED     85,000 0  0
AMERICAN INTL GROUP INC     COM                026874107    1,349.3   2,3        13,690.0    SH          DEFINED     13,690 0  0
AMERICAN TOWER              NT CV 144A 5%10    029912AE2      880.0   1,3       960,000.0    PRN         DEFINED
AMERICAN TOWER              NT CONV 5%10       029912AF9    1,320.0   1,3     1,440,000.0    PRN         DEFINED
AMR  CORP                   COM                001765106    3,135.0   2,3        80,000.0    SH          DEFINED     80,000 0  0
ANADARKO PETROLEUM CORP     COM                032511107    8,334.1   2,3       117,250.0    SH          DEFINED    117,250 0  0
ANHEUSER BUSCH CO           COM                035229103    1,597.1   2,3        35,100.0    SH          DEFINED     35,100 0  0
ANTEC CORP                  COM                03664P105      316.2   3          40,000.0    SH          DEFINED     40,000 0  0
ANTEC CORP                  SB NT CV 144A 03   03664PAA3    1,186.9   2,3     2,250,000.0    PRN         DEFINED
AON CORP                    COM                037389103   17,638.8   2,3       515,000.0    SH          DEFINED    515,000 0  0
APPLIED MATERIALS INC.      COM                038222105    3,627.8   1,3        95,000.0    SH          DEFINED     95,000 0  0
ARCHER DANIELS              COM                039483102   11,688.5   2,3       779,231.0    SH          DEFINED    779,231 0  0
ARGUSS COMMUNICATIONS INC   COM                040282105    5,184.9   2,3       568,212.0    SH          DEFINED    568,212 0  0
AT & T CORPORATION          COM                001957109   11,153.2   2,3,4     646,565.0    SH          DEFINED    646,565 0  0
AT HOME CORP                SB DB CV 0.525%18  045919AC1    2,117.5   2,3     7,000,000.0    PRN         DEFINED
AT HOME CORP                SUB NT CV 4.75%06  045919AF4   10,378.1   1,2,3  20,500,000.0    PRN         DEFINED
AT HOME CORP -SER A         COM SER A          045919107    1,659.3   2,3       300,000.0    SH          DEFINED    300,000 0  0
BANK ONE CORP               COM                06423A103      457.8   2,3        12,500.0    SH          DEFINED     12,500 0  0
BAYCORP HOLDINGS LTD        COM                072728108    2,560.2   1,3       386,442.0    SH          DEFINED    386,442 0  0
BEAR STEARNS COMPANIES INC  COM                073902108    3,548.1   2,3        70,000.0    SH          DEFINED     70,000 0  0
BELO CORPORATION            COM SER A          080555105    3,200.0   2,3       200,000.0    SH          DEFINED    200,000 0  0
BEVERLY ENTERPRISES INC     COM NEW            087851309    6,221.3   2,3       759,900.0    SH          DEFINED    759,900 0  0
BOEING COMPANY              COM                097023105    6,600.0   2,3       100,000.0    SH          DEFINED    100,000 0  0
BOWATER INC                 COM                102183100    2,920.2   2,3        51,800.0    SH          DEFINED     51,800 0  0
BRIGGS & STRATTON CORP      COM                109043109      257.4   2,3         5,800.0    SH          DEFINED      5,800 0  0
BUCKHEAD AMERICA CORP       COM                11835A105       78.2   2,3        21,579.0    SH          DEFINED     21,579 0  0
BURLINGTON NORTHERN SANTA FECOM                12189T104    2,010.2   2,3        71,000.0    SH          DEFINED     71,000 0  0
BURLINGTON RESOURCES INC    COM                122014103   10,605.0   2,3       210,000.0    SH          DEFINED    210,000 0  0
CABOT OIL & GAS CORP  -CL A CL A               127097103    1,094.7   2,3        35,100.0    SH          DEFINED     35,100 0  0
CALPINE CORPORATION         COM                131347106    5,855.0   1,2,3     126,800.0    SH          DEFINED    126,800 0  0
CANADIAN NATL RAILWAY CO    COM                136375102        6.6   1,3           224.0    SH          DEFINED        224 0  0
CAPITAL ONE FINANCIAL CORP  COM                14040H105    3,290.6   2,3        50,000.0    SH          DEFINED     50,000 0  0
CARDINAL HEALTH  INC.       COM                14149Y108    5,940.1   1,3        59,625.0    SH          DEFINED     59,625 0  0
CATELLUS DEVELOPMENT CORP   COM                149111106    1,885.2   2,3       107,724.0    SH          DEFINED    107,724 0  0
CELESTICA INC               SUB VTG SHS        15101Q108   24,412.5   1,2,3     450,000.0    SH          DEFINED    450,000 0  0
CELESTICA INC               LYON ZERO 20       15101QAA6   57,638.3   1,2,3 134,380,000.0    PRN         DEFINED
CENTRAL VERMONT PUB SERV    COM                155771108      990.8   2,3        81,300.0    SH          DEFINED     81,300 0  0
CH ENERGY GROUP INC.        COM                12541M102    1,136.7   2,3        25,400.0    SH          DEFINED     25,400 0  0
CISCO SYSTEMS INC           COM                17275R102    5,737.5   1,3       150,000.0    SH          DEFINED    150,000 0  0
CITIGROUP INC               COM                172967101    5,514.8   1,3       108,000.0    SH          DEFINED    108,000 0  0
CLEAR CHANNEL COMMUNICATIONSCOM                184502102    6,828.5   1,2,3     140,000.0    SH          DEFINED    140,000 0  0
CLOROX CO                   COM                189054109    2,840.0   2,3        80,000.0    SH          DEFINED     80,000 0  0
CNA INCOME SHARES INC       COM                126119106      936.5   2,3       137,472.8    SH          DEFINED    137,473 0  0
CNA SURETY CORPORATION      COM                12612L108  390,808.3   2,3,4  27,425,147.0    SH          DEFINED 27,425,147 0  0
COLT TELECOM GRP-SPONS ADR  SPONSORED ADR      196877104      263.3   2,3         3,000.0    SH          DEFINED      3,000 0  0
COMCAST CORP CL A SPL       CL A SPL           200300200    5,010.0   1,3       120,000.0    SH          DEFINED    120,000 0  0
COMMUNICATION INTELLIGENCE  COM                20338K106      680.5   3         660,000.0    SH          DEFINED    660,000 0  0
CONECTIV                    COM                206829103      766.4   2,3        38,200.0    SH          DEFINED     38,200 0  0
CONOCO INC-CL A             CL A               208251306    4,007.5   2,3       140,000.0    SH          DEFINED    140,000 0  0
CONSOLIDATED FREIGHTWAYS CRPCOM                209232107      669.5   2,3       159,900.0    SH          DEFINED    159,900 0  0
CONSTELLATION ENERGY GROUP  COM                210371100    6,461.9   2,3       143,400.0    SH          DEFINED    143,400 0  0
CONVERGYS CORP              COM                212485106      453.1   3          10,000.0    SH          DEFINED     10,000 0  0
CORN PRODUCTS INTL INC      COM                219023108    3,763.5   2,3       129,500.0    SH          DEFINED    129,500 0  0
CORNING INC.                COM                219350105    6,824.0   1,2,3     124,600.0    SH          DEFINED    124,600 0  0
CYANOTECH CORP NEW          COM NEW            232437202      472.6   3,4       605,155.0    SH          DEFINED    605,155 0  0
CYPRESS SEMICON             SUB NT CV 4%05     232806AE9    3,172.4   1,3     4,100,000.0    PRN         DEFINED
CYPRESS SEMICONDUCTOR CORP  COM                232806109    1,309.2   1,3        66,500.0    SH          DEFINED     66,500 0  0
D.R. HORTON INC             COM                23331A109    3,543.4   2,3       145,000.0    SH          DEFINED    145,000 0  0
DEAN FOODS CO               COM                242361103    1,169.2   2,3        38,100.0    SH          DEFINED     38,100 0  0
DEERE & CO                  COM                244199105    3,206.8   2,3        70,000.0    SH          DEFINED     70,000 0  0
DEL MONTE FOODS CO          COM                24522P103    1,771.9   2,3       244,400.0    SH          DEFINED    244,400 0  0
DELPHI AUTOMOTIVE SYSTEMS   COM                247126105    1,431.0   2,3       127,200.0    SH          DEFINED    127,200 0  0
DELPHI FINANCIAL GROUP-CL A CL A               247131105    4,235.0   2,3       110,000.0    SH          DEFINED    110,000 0  0
DELTA AIR INC               COM                247361108    4,050.1   2,3        80,700.0    SH          DEFINED     80,700 0  0
DOLLAR THRIFTY AUTOMOTIVE GPCOM                256743105    2,156.3   3         115,000.0    SH          DEFINED    115,000 0  0
DOW CHEMICAL CORP           COM                260543103    4,028.8   2,3       110,000.0    SH          DEFINED    110,000 0  0
DU PONT DE NEMOURS E.I.     COM                263534109    1,449.4   2,3        30,000.0    SH          DEFINED     30,000 0  0
EAST-WEST BANCORP INC.      COM                27579R104   31,921.9   2,3     1,280,100.0    SH          DEFINED  1,280,100 0  0
ECHOSTAR COMM               SUB NT CV 144A07   278762AB5      975.0   1,3     1,300,000.0    PRN         DEFINED
ECHOSTAR COMMUNICATIONS - A CL A               278762109      501.2   1,3        22,030.0    SH          DEFINED     22,030 0  0
EDISON INTL COM STK         COM                281020107      531.3   2,3        34,000.0    SH          DEFINED     34,000 0  0
EMC CORPORATION             COM                268648102    4,415.6   1,3        66,400.0    SH          DEFINED     66,400 0  0
EMERSON ELECTRIC COMPANY    COM                291011104    3,861.8   1,3        49,000.0    SH          DEFINED     49,000 0  0
ENCOMPASS SERVICES CORP     COM                29255U104      346.2   2,3        68,397.0    SH          DEFINED     68,397 0  0
ENERGY EAST CORPORATION     COM                29266M109    2,370.3   2,3       120,400.0    SH          DEFINED    120,400 0  0
ENGEL GENERAL DEVELOPERS    ORD                M40515104      465.0   2,3       120,000.0    SH          DEFINED    120,000 0  0
ENRON CORP                  COM                293561106    9,975.0   1,3       120,000.0    SH          DEFINED    120,000 0  0
EQUANT NV-NY REGISTERED SHR NY REG SHS         294409107    1,433.4   1,3        55,000.0    SH          DEFINED     55,000 0  0
ERICSSON (LM) TEL-SP ADR    ADR CL B SEK10     294821400      167.8   3          15,000.0    SH          DEFINED     15,000 0  0
ESTEE LAUDER COMPANIES      CL A               518439104       43.8   2,3         1,000.0    SH          DEFINED      1,000 0  0
EXCITE@HOME                 SB NT CV 144A 06   045919AD9   10,378.1   1,2,3  20,500,000.0    PRN         DEFINED
EXIGENT INTERNATIONAL INC   COM                302056106        0.2   1,3           125.0    SH          DEFINED        125 0  0
EXODUS COMMUNICATIONS INC   COM                302088109       40.0   2,3         2,000.0    SH          DEFINED      2,000 0  0
FEDERAL HM LOAN MORT CORP   COM                313400301    3,168.3   1,3        46,000.0    SH          DEFINED     46,000 0  0
FEDERATED DEPART STORES INC COM                31410H101      913.5   2,3        26,100.0    SH          DEFINED     26,100 0  0
FIRST DATA CORP             COM                319963104    3,951.6   1,3        75,000.0    SH          DEFINED     75,000 0  0
FIRST UNION CORP            COM                337358105    2,781.2   2,3       100,000.0    SH          DEFINED    100,000 0  0
FORD MOTOR COMPANY          COM PAR .01        345370860    7,302.1   2,3       311,564.0    SH          DEFINED    311,564 0  0
FOX ENTERTAINMENT GRP INC-A CL A               35138T107      893.8   2,3        50,000.0    SH          DEFINED     50,000 0  0
FPL GROUP                   COM                302571104    3,946.3   2,3        55,000.0    SH          DEFINED     55,000 0  0
FRIEDMAN BILLINGS RAMSEY-A  CL A               358433100      334.7   2,3        51,000.0    SH          DEFINED     51,000 0  0
GEN SEMICONDUCTR            SUB NT CV5.75%06   370787AB9      642.5   1,3     1,000,000.0    PRN         DEFINED
GENENTECH INC               COM NEW            368710406    2,363.5   1,3        29,000.0    SH          DEFINED     29,000 0  0
GENERAL COMMUNICATION-CL A  CL A               369385109       55.4   1,3         7,913.0    SH          DEFINED      7,913 0  0
GENERAL ELECTRIC CO         COM                369604103    6,183.9   1,3       129,000.0    SH          DEFINED    129,000 0  0
GENERAL MOTORS CORP         COM                370442105    3,950.8   2,3        77,563.0    SH          DEFINED     77,563 0  0
GENERAL MOTORS CORP CLASS H CL H NEW           370442832    5,957.0   1,2,3     259,000.0    SH          DEFINED    259,000 0  0
GENERAL SEMICONDUCTOR INC   COM                370787103      268.1   1,3        42,900.0    SH          DEFINED     42,900 0  0
GENZYME CORP - GENL DIV     COM GENL DIV       372917104    5,594.1   1,3        62,200.0    SH          DEFINED     62,200 0  0
GENZYME SURGICAL PRODUCTS   COM SURG PRODS     372917609       78.1   1,3        11,150.0    SH          DEFINED     11,150 0  0
GENZYME-MOLECULAR ONCOLOGY  COM-MOLECULAR      372917500       61.6   1,3         6,700.0    SH          DEFINED      6,700 0  0
GEORGIA-PACIFIC CORPORATION COM GA PAC GRP     373298108    3,797.3   2,3       122,000.0    SH          DEFINED    122,000 0  0
GILLETTE CO.                COM                375766102    2,673.3   1,3        74,000.0    SH          DEFINED     74,000 0  0
GLAMIS GOLD LTD SV          COM                376775102    1,126.6   2,3       721,240.0    SH          DEFINED    721,240 0  0
GLOBAL CROSSING LTD         COM                G3921A100  276,834.6   2,3    19,342,157.0    SH          DEFINED 19,342,157 0  0
GOLD STANDARD INC           COM PAR .001       380724302       77.6   2,3        82,812.5    SH          DEFINED     82,813 0  0
GRAPHIC PACKAGING INTL CORP COM                388690109        0.0   3,4             2.0    SH          DEFINED          2 0  0
GULF CANADA RES LTD  -ORD   ORD                40218L305    3,904.8   2,3       771,400.0    SH          DEFINED    771,400 0  0
HAIN CELESTIAL GROUP INC    COM                405217100    1,462.5   1,3        45,000.0    SH          DEFINED     45,000 0  0
HAYES LEMMERZ INTL INC COM  COM                420781106    1,902.5   3         284,500.0    SH          DEFINED    284,500 0  0
HEALTH CARE PPTYS INVEST    COM                421915109    1,912.0   2,3        64,000.0    SH          DEFINED     64,000 0  0
HEALTHCARE REALTY TRUST     COM                421946104    4,698.4   2,3       221,100.0    SH          DEFINED    221,100 0  0
HEALTHSOUTH CORP            SB DB CV 3.25%03   421924AF8    4,412.5   2,3     5,000,000.0    PRN         DEFINED
HEALTHSOUTH CORP.           COM                421924101    8,164.2   2,3       500,500.0    SH          DEFINED    500,500 0  0
HEARST-ARGYLE TELEVISION    COM                422317107    4,902.8   2,3       239,900.0    SH          DEFINED    239,900 0  0
HERCULES INC                COM                427056106    1,525.0   2,3        80,000.0    SH          DEFINED     80,000 0  0
HILTON HOTELS CORP          COM                432848109    6,352.5   2,3       605,000.0    SH          DEFINED    605,000 0  0
HOME DEPOT                  COM                437076102      456.9   3          10,000.0    SH          DEFINED     10,000 0  0
HOMESTAKE MINING CO         COM                437614100    1,256.1   2,3       300,000.0    SH          DEFINED    300,000 0  0
HORIZON GROUP PROPERTIES    COM                44041U102        2.0   2,3           630.0    SH          DEFINED        630 0  0
HOUSEHOLD INTL INC          COM                441815107   15,840.0   2,3       288,000.0    SH          DEFINED    288,000 0  0
IKON MBIA INC.              COM                55262C100    2,965.0   2,3        40,000.0    SH          DEFINED     40,000 0  0
IMC GLOBAL INC              COM                449669100    1,038.0   2,3        66,700.0    SH          DEFINED     66,700 0  0
INGERSOLL RAND CO           COM                456866102    5,527.5   2,3       132,000.0    SH          DEFINED    132,000 0  0
INSWEB CORPORATION          COM                45809K103    1,197.8   2,3     1,368,967.0    SH          DEFINED  1,368,967 0  0
INTEL CORP                  COM                458140100    2,093.3   1,3        69,200.0    SH          DEFINED     69,200 0  0
INTERNATIONAL BUSINESS MACH COM                459200101   19,414.0   1,2,3     228,400.0    SH          DEFINED    228,400 0  0
INTERNATIONAL PAPER CO.     COM                460146103    4,081.2   2,3       100,000.0    SH          DEFINED    100,000 0  0
INTERSTATE BAKERIES         COM                46072H108    2,801.2   2,3       199,200.0    SH          DEFINED    199,200 0  0
INTL RECTIFIER              SUB NT CV 144A07   460254AD7    3,112.2   1,3     4,680,000.0    PRN         DEFINED
INTL RECTIFIER CORP         COM                460254105    1,338.0   1,3        44,600.0    SH          DEFINED     44,600 0  0
IVAX CORP                   COM                465823102    3,657.7   1,3        95,500.0    SH          DEFINED     95,500 0  0
IVAX CORP                   SR SUB CV 144A07   465823AB8    5,380.4   1,3     4,300,000.0    PRN         DEFINED
JOHNSON & JOHNSON           COM                478160104    4,011.7   1,3        38,184.0    SH          DEFINED     38,184 0  0
JPS INDUSTRIES INC          COM                46624E405    1,991.4   2,3       419,243.0    SH          DEFINED    419,243 0  0
KEYSPAN CORPORATION         COM                49337W100    2,754.4   2,3        65,000.0    SH          DEFINED     65,000 0  0
KINROSS GOLD CORP           COM                496902107    1,134.8   2,3     2,100,000.0    SH          DEFINED  2,100,000 0  0
KOHLS CORP                  COM                500255104    6,819.8   1,2,3     111,800.0    SH          DEFINED    111,800 0  0
KROGER COMPANY              COM                501044101   12,968.4   1,2,3     479,200.0    SH          DEFINED    479,200 0  0
KULICKE & SOFFA             SUB NT CV4.75%06   501242AE1    2,509.9   1,3     3,450,000.0    PRN         DEFINED
KULICKE & SOFFA INDUSTRIES  COM                501242101      696.4   1,3        61,900.0    SH          DEFINED     61,900 0  0
L-3 COMM HLDGS              SR SB CV 144A 09   502424AA2    4,441.8   1,3     4,000,000.0    PRN         DEFINED
L-3 COMMUNICATIONS CORP     COM                502424104    2,525.6   1,3        32,800.0    SH          DEFINED     32,800 0  0
LAM RESEARCH CORP           COM                512807108    1,289.1   1,3        88,900.0    SH          DEFINED     88,900 0  0
LAMAR ADVERTISIN            NT CV 5.25%06      512815AF8    2,520.4   1,3     2,450,000.0    PRN         DEFINED
LAMAR ADVERTISING CO        CL A               512815101    1,566.9   1,3        40,600.0    SH          DEFINED     40,600 0  0
LATTICE SEMICOND            SUB NT CV 4.75%06  518415AC8    2,823.5   1,3     2,600,000.0    PRN         DEFINED
LIBERTY MEDIA               COM LIB GRP A      001957208    7,297.3   1,3       538,048.0    SH          DEFINED    538,048 0  0
LIBERTY PROPERTY TRUST      SH BEN INT         531172104   19,642.1   2,3       687,700.0    SH          DEFINED    687,700 0  0
LIGHTSPAN INC               COM                53226T103       10.8   1,3         7,500.0    SH          DEFINED      7,500 0  0
LILLY (ELI) & CO.           COM                532457108    3,517.8   1,3        37,800.0    SH          DEFINED     37,800 0  0
LOCKHEED MARTIN CORP        COM                539830109    4,753.0   2,3       140,000.0    SH          DEFINED    140,000 0  0
LORAL SPACE & COMM          COM                G56462107      892.0   2,3       279,900.0    SH          DEFINED    279,900 0  0
LSI CORP                    COM                502161102    2,594.3   1,3       151,800.0    SH          DEFINED    151,800 0  0
LSI LOGIC                   SB NT CV 4.25%04   502161AD4    3,507.6   1,3     2,800,000.0    PRN         DEFINED
LUBRIZOL CORP               COM                549271104    3,154.4   2,3       122,500.0    SH          DEFINED    122,500 0  0
LUCENT TECHNOLOGIES         COM                549463107    2,092.5   2,3       155,000.0    SH          DEFINED    155,000 0  0
MASTEC INC                  COM                576323109      200.0   3          10,000.0    SH          DEFINED     10,000 0  0
MAY DEPARTMENT STORES CO    COM                577778103    1,310.0   2,3        40,000.0    SH          DEFINED     40,000 0  0
MCCORMICK & CO-NON VTG SHRS COM NON VTG        579780206    1,406.4   2,3        39,000.0    SH          DEFINED          0 0  0
MCLEODUSA INC-CL A          CL A               582266102      282.5   3          20,000.0    SH          DEFINED     20,000 0  0
MEDICALOGIC/MEDSCAPE INC    COM                584642102    4,415.9   2,3     1,910,000.0    SH          DEFINED  1,910,000 0  0
MEDTRONIC INC               COM                585055106    6,641.3   1,3       110,000.0    SH          DEFINED    110,000 0  0
MELLON FINANCIAL CORP       COM                58551A108    4,328.5   1,3        88,000.0    SH          DEFINED     88,000 0  0
MERCATOR SOFTWARE INC       COM                587587106      403.1   2,3        75,000.0    SH          DEFINED     75,000 0  0
MERCURY INTERACT            SB NT CV 144A07    589405AA7    4,347.1   1,3     4,150,000.0    PRN         DEFINED
MERCURY INTERACT            SB NT CV 4.75%07   589405AB5      523.8   1,3       500,000.0    PRN         DEFINED
MERCURY INTERACTIVE CORP    COM                589405109    3,276.1   1,3        36,300.0    SH          DEFINED     36,300 0  0
MICRON TECHNOLOGY INC       COM                595112103      355.0   1,3        10,000.0    SH          DEFINED     10,000 0  0
MICROSOFT CORP              COM                594918104    2,088.0   1,3        48,000.0    SH          DEFINED     48,000 0  0
MITCHELL ENERGY & DEV-CL A  CL A               606592202    1,225.0   2,3        20,000.0    SH          DEFINED     20,000 0  0
MOLEX - CLASS A NON-VOTING  CL A               608554200    2,212.9   1,3        86,993.0    SH          DEFINED     86,993 0  0
MOTOROLA INC                COM                620076109    2,571.8   1,3       127,000.0    SH          DEFINED    127,000 0  0
MSDW ASIA PACIFIC FUND      COM                61744U106    2,661.7   2,3       306,400.0    SH          DEFINED    306,400 0  0
MSDW INDIA INVESTMENT FUND  COM                61745C105      995.6   2,3        90,000.0    SH          DEFINED     90,000 0  0
MUNIYIELD QUALITY FUND      COM                626302103    1,819.2   2,3       141,900.0    SH          DEFINED    141,900 0  0
NATIONWIDE HEALTH PPTYS INC COM                638620104      794.4   2,3        61,700.0    SH          DEFINED     61,700 0  0
NEIMAN MARCUS GROUP -CL B   CL B               640204301    3,272.8   2,3        98,800.0    SH          DEFINED     98,800 0  0
NETOPIA INC                 COM                64114K104       68.8   3,4        15,957.0    SH          DEFINED     15,957 0  0
NEWHALL LND & FRMING CO-LP  DEPOSITORY REC     651426108    1,627.5   2,3        70,000.0    SH          DEFINED     70,000 0  0
NEWMONT MINING CORP         COM                651639106    1,279.7   2,3        75,000.0    SH          DEFINED     75,000 0  0
NEWS CORP LTD-SPONS ADR     ADR NEW            652487703    4,876.2   2,3       151,200.0    SH          DEFINED    151,200 0  0
NEWS CORP LTD-SPONS ADR PRF SP ADR PFD         652487802   15,402.9   2,3       530,000.0    SH          DEFINED    530,000 0  0
NEXTEL COMMNS, INC CL A     CL A               65332V103      493.1   1,3        19,925.0    SH          DEFINED     19,925 0  0
NIAGARA MOHAWK HOLDINGS INC COM                653520106    4,450.4   2,3       266,700.0    SH          DEFINED    266,700 0  0
NOKIA CORP -SPON ADR        SPONSORED ADR      654902204    2,392.5   1,3        55,000.0    SH          DEFINED     55,000 0  0
NORFOLK SOUTHERN CORP.      COM                655844108    6,922.2   2,3       520,000.0    SH          DEFINED    520,000 0  0
NORTH FORK BANCORPORATION   COM                659424105    4,844.9   2,3       197,250.0    SH          DEFINED    197,250 0  0
NORTHROP GRUMMAN CORP       COM                666807102    2,490.0   2,3        30,000.0    SH          DEFINED     30,000 0  0
OGE ENERGY CORP             COM                670837103    1,937.9   2,3        79,300.0    SH          DEFINED     79,300 0  0
ON COMMAND CORPORATION      COM                682160106    3,084.2   2,3       352,480.0    SH          DEFINED    352,480 0  0
ON COMMAND CORP CL B WTS    WT B EX 100703     682160122      153.9   2,3       123,130.0    SH    CALL  DEFINED
OVERSEAS SHIPHOLDING GROUP  COM                690368105    2,897.0   2,3       126,300.0    SH          DEFINED    126,300 0  0
OWENS-ILL INC               PFD CONV $.01      690768502      266.5   2,3        20,500.0    SH          DEFINED     20,500 0  0
P G & E CORPORATION         COM                69331C108      600.0   2,3        30,000.0    SH          DEFINED     30,000 0  0
PACTIV CORPORATION          COM                695257105    1,051.9   2,3        85,000.0    SH          DEFINED     85,000 0  0
PALL CORP                   COM                696429307    1,598.4   2,3        75,000.0    SH          DEFINED     75,000 0  0
PATHMARK STORES INC         COM                70322A101   17,604.4   2,3     1,066,932.0    SH          DEFINED  1,066,932 0  0
PENNEY (J.C.) CO.  INC.     COM                708160106    1,957.5   2,3       180,000.0    SH          DEFINED    180,000 0  0
PEPSI BOTTLING GROUP INC    COM                713409100    5,175.6   2,3       130,000.0    SH          DEFINED    130,000 0  0
PEPSICO INCORPORATED        COM                713448108    4,064.1   1,3        82,000.0    SH          DEFINED     82,000 0  0
PFIZER INC                  COM                717081103    6,118.0   1,3       133,000.0    SH          DEFINED    133,000 0  0
PHARMACIA CORPORATION       COM                71713U102    4,880.0   1,3        80,000.0    SH          DEFINED     80,000 0  0
PILGRIMS PRIDE CORP-CL B    CL B               721467108      560.1   2,3        71,700.0    SH          DEFINED     71,700 0  0
PITNEY-BOWES  INC           COM                724479100    1,656.3   3          50,000.0    SH          DEFINED     50,000 0  0
PLACER DOME INC             COM                725906101    6,067.1   2,3       630,352.0    SH          DEFINED    630,352 0  0
PLC CAP TRUST II            INCOME PRIDES      743674202    3,713.2   1,2,3      72,100.0    SH          DEFINED     72,100 0  0
POTASH CORP SASKATCHEWAN    COM                73755L107    4,534.3   2,3        57,900.0    SH          DEFINED     57,900 0  0
POTOMAC ELECTRIC POWER      COM                737679100    5,574.6   2,3       225,600.0    SH          DEFINED    225,600 0  0
PRAXAIR INC                 COM                74005P104    2,573.8   2,3        58,000.0    SH          DEFINED     58,000 0  0
PRIME HOSPITALITY CORP      COM                741917108      946.0   2,3        81,375.0    SH          DEFINED     81,375 0  0
PRIME RETAIL INC            COM                741570105        5.9   2,3        12,600.0    SH          DEFINED     12,600 0  0
PROTECTIVE LIFE CORP        COM                743674103    3,134.7   1,2,3      97,200.0    SH          DEFINED     97,200 0  0
QUALCOMM INC                COM                747525103    1,232.8   1,3        15,000.0    SH          DEFINED     15,000 0  0
QUANTA SERVICES             SUB NT CONV 4%07   74762EAA0    3,928.8   1,3     4,680,000.0    PRN         DEFINED
QUANTA SERVICES INC         COM                74762E102    2,101.8   1,3        65,300.0    SH          DEFINED     65,300 0  0
QWEST COMMUNICATIONS INTL   COM                749121109      429.4   3,4        10,506.0    SH          DEFINED     10,506 0  0
RADIO ONE INC               CL A               75040P108       89.7   3,4         8,391.0    SH          DEFINED      8,391 0  0
RADIO ONE INC -CL D         CL D NON VTG       75040P405      184.6   3,4        16,782.0    SH          DEFINED     16,782 0  0
RADIO UNICA COMMUNICATIONS  COM                75040Q106       18.8   2,3         5,000.0    SH          DEFINED      5,000 0  0
RADISYS CORP                COM                750459109    1,273.1   1,3        49,200.0    SH          DEFINED     49,200 0  0
RADISYS CORP                SUB NT CV 144A07   750459AA7    1,812.0   1,3     2,730,000.0    PRN         DEFINED
RATIONAL SOFTWAR            SUB NT CV 144A07   75409PAA1    4,612.5   1,3     3,600,000.0    PRN         DEFINED
RATIONAL SOFTWARE CORP      COM NEW            75409P202    3,726.3   1,3        95,700.0    SH          DEFINED     95,700 0  0
RAYTHEON CO. COM            CL B               755111408    3,649.8   2,3       117,500.0    SH          DEFINED    117,500 0  0
REPUBLIC SERVICES INC       COM                760759100      584.4   2,3        34,000.0    SH          DEFINED     34,000 0  0
RGS ENERGY GROUP INC        COM                74956K104    2,429.5   2,3        74,900.0    SH          DEFINED     74,900 0  0
RHYTHMS NETCONNECTIONS INC  COM                762430205        5.6   2,3         5,000.0    SH          DEFINED      5,000 0  0
ROCKWELL INTL CORP          COM                773903109    5,076.8   2,3       106,600.0    SH          DEFINED    106,600 0  0
ROLLINS TRUCK LEASING CORP  COM                775741101      345.6   3          43,200.0    SH          DEFINED     43,200 0  0
SAFEWAY INC                 COM NEW            786514208    5,000.0   1,3        80,000.0    SH          DEFINED     80,000 0  0
SCANA CORP                  COM                80589M102   16,279.8   2,3       550,700.0    SH          DEFINED    550,700 0  0
SCHERING PLOUGH             COM                806605101    6,242.5   1,3       110,000.0    SH          DEFINED    110,000 0  0
SCHLUMBERGER LIMITED        COM                806857108    4,364.6   1,3        54,600.0    SH          DEFINED     54,600 0  0
SCHULMAN (A.) INC           COM                808194104      533.6   2,3        46,400.0    SH          DEFINED     46,400 0  0
SCI SYSTEMS INC             SUB NT CONV 3%07   783890AF3    3,283.7   1,3     4,150,000.0    PRN         DEFINED
SCI SYSTEMS INC.            COM                783890106    1,396.3   1,3        52,940.0    SH          DEFINED     52,940 0  0
SEARS ROEBUCK & COMPANY     COM                812387108    4,878.9   2,3       140,400.0    SH          DEFINED    140,400 0  0
SEMTECH CORP                COM                816850101    1,076.6   1,3        48,800.0    SH          DEFINED     48,800 0  0
SEMTECH CORP                SUB NT CV 4.5%07   816850AD3    1,791.0   1,3     2,400,000.0    PRN         DEFINED
SHERWIN WILLIAMS CO         COM                824348106    2,433.9   2,3        92,500.0    SH          DEFINED     92,500 0  0
SHOPKO STORES INC           COM                824911101      584.5   2,3       116,900.0    SH          DEFINED    116,900 0  0
SIEBEL SYSTEMS INC          COM                826170102    1,016.3   1,3        15,000.0    SH          DEFINED     15,000 0  0
SIERRA PACIFIC RESOURCES    COM                826428104    1,220.7   2,3        76,000.0    SH          DEFINED     76,000 0  0
SIRIUS SATELLITE RADIO      COM                82966U103   70,461.9   2,3     2,353,672.0    SH          DEFINED  2,353,672 0  0
SOLECTRON CORP              COM                834182107   52,523.3   1,2,3   1,565,400.0    SH          DEFINED  1,565,400 0  0
SOLECTRON CORP              SR LYON ZERO 20    834182AK3   64,543.8   1,2,3 115,000,000.0    PRN         DEFINED
SOLECTRON CORP              LYON ZERO CPN 20   834182AL1   80,125.7   1,2,3 156,410,000.0    PRN         DEFINED
SONIC AUTOMOTIVE INC        CL A               83545G102      687.5   3         100,000.0    SH          DEFINED    100,000 0  0
SOUTHERN COMPANY            COM                842587107      581.9   2,3        17,500.0    SH          DEFINED     17,500 0  0
SPANISH BROADCSTNG SYS CLA  CL A               846425882    1,224.0   2,3       244,800.0    SH          DEFINED    244,800 0  0
SPRINT CORP                 COM FON GROUP      852061100       58.0   3,4         2,856.0    SH          DEFINED      2,856 0  0
SPRINT CORP (PCS GROUP)     PCS COM SER 1      852061506      644.3   1,2,3,4    31,528.0    SH          DEFINED     31,528 0  0
SPX CORP                    COM                784635104    1,947.4   1,3        18,000.0    SH          DEFINED     18,000 0  0
STAR GAS PART-SEN SUB UTS   SR SUB UN LTD      85512C204      384.5   2,3        42,434.0    SH          DEFINED     42,434 0  0
STMICROELECTRON             SUB LYON ZERO 09   861012AB8   26,404.9   1,2,3  22,050,000.0    PRN         DEFINED
STMICROELECTRON             SR CV ZERO144A10   861012AC6   16,261.9   1,2,3  24,500,000.0    PRN         DEFINED
STMICROELECTRONICS NV-NY    COM                861012102   25,634.1   1,2,3     598,760.0    SH          DEFINED    598,760 0  0
STORAGE TECHNOLOGY /NEW/COM COM PAR $0.10      862111200       24.8   1,3         2,754.0    SH          DEFINED      2,754 0  0
SUN MICROSYSTEMS INC        COM                866810104    3,763.1   1,3       135,000.0    SH          DEFINED    135,000 0  0
SYBASE INC                  COM                871130100    2,154.2   2,3       108,730.0    SH          DEFINED    108,730 0  0
T/R SYSTEMS INC             COM                87263U102      320.3   3,4        50,243.0    SH          DEFINED     50,243 0  0
TAUBMAN CENTERS INC         COM                876664103    8,202.8   3         750,000.0    SH          DEFINED    750,000 0  0
TECNOMATIX TECHNOLOGIES LTD ORD                M8743P105        5.3   2,3         1,000.0    SH          DEFINED      1,000 0  0
TEEKAY SHIPPING CORP        COM                Y8564W103    6,881.8   2,3       181,100.0    SH          DEFINED    181,100 0  0
TELLABS INC                 COM                879664100    4,576.5   1,3        81,000.0    SH          DEFINED     81,000 0  0
TERRA INDUSTRIES INC        COM                880915103      340.8   2,3       136,300.0    SH          DEFINED    136,300 0  0
TEXAS INSTRUMENTS INC       COM                882508104      663.3   1,3        14,000.0    SH          DEFINED     14,000 0  0
TEXTRON INC                 COM                883203101   12,090.0   2,3       260,000.0    SH          DEFINED    260,000 0  0
THE HEALTHCARE COMPANY      COM                404119109    3,520.8   1,3        80,000.0    SH          DEFINED     80,000 0  0
THOUSAND TRAILS, INC        COM                885502104      798.3   2,3       159,660.0    SH          DEFINED    159,660 0  0
TOWER AUTOMOTIVE INC        COM                891707101    1,067.4   2,3       118,600.0    SH          DEFINED    118,600 0  0
TRANSOCEON SEDCO FOREX INC  ORD                G90078109    2,557.9   1,3        55,606.0    SH          DEFINED     55,606 0  0
TRENWICK GROUP LTD          COM                G9032C109   91,988.0   2,3     3,707,400.0    SH          DEFINED  3,707,400 0  0
TRIBUNE CO NEW              COM                896047107    3,802.5   1,3        90,000.0    SH          DEFINED     90,000 0  0
TRIQUINT SEMICON            SB NT CV 144A 07   89674KAA1      950.4   1,3     1,080,000.0    PRN         DEFINED
TRIQUINT SEMICON            SUB NT CV 4%07     89674KAB9    2,921.6   1,3     3,320,000.0    PRN         DEFINED
TRIQUINT SEMICONDUCTOR INC  COM                89674K103    2,184.4   1,3        50,000.0    SH          DEFINED     50,000 0  0
TRIZEC HAHN CORPORATION     SUB VTG            896938107    4,386.3   2,3       290,000.0    SH          DEFINED    290,000 0  0
TRW INC                     COM                872649108    2,325.0   2,3        60,000.0    SH          DEFINED     60,000 0  0
TVX GOLD INC                COM NEW            87308K200      820.6   2,3       500,380.0    SH          DEFINED    500,380 0  0
TXU CORPORATION             COM                873168108      797.6   2,3        18,000.0    SH          DEFINED     18,000 0  0
TYCO INTERNATIONAL LTD      COM                902124106   44,415.5   1,2,3     799,500.0    SH          DEFINED    799,500 0  0
TYCO INTL LTD               LYON ZRO 144A 20   902124AA4  115,687.5   1,2,3 150,000,000.0    PRN         DEFINED
U.S. BANCORP                COM                902973106    5,253.7   2,3       180,000.0    SH          DEFINED    180,000 0  0
UAL CORP                    COM PAR $0.01      902549500    1,946.9   2,3        50,000.0    SH          DEFINED     50,000 0  0
UGLY DUCKLING CORP          COM                903512101      196.9   2,3        50,000.0    SH          DEFINED     50,000 0  0
UNISYS CORP                 COM                909214108    4,899.4   2,3       335,000.0    SH          DEFINED    335,000 0  0
UNITED TECHNOLOGIES CORP.   COM                913017109    1,572.5   2,3        20,000.0    SH          DEFINED     20,000 0  0
UNOCAL CORP                 COM                915289102    3,922.9   2,3       101,400.0    SH          DEFINED    101,400 0  0
USX - MARATHON GROUP INC    COM NEW            902905827    4,995.0   2,3       180,000.0    SH          DEFINED    180,000 0  0
VERIZON COMMUNICATIONS INC. COM                92343V104    2,255.6   1,3        45,000.0    SH          DEFINED     45,000 0  0
VISTEON CORP -W/I           COM                92839U107    2,300.0   2,3       200,000.0    SH          DEFINED    200,000 0  0
VODAFONE AIRTOUCH PLC-SP ADRSPONSORED ADR      92857W100   18,292.3   1,2,3     505,950.0    SH          DEFINED    505,950 0  0
VORNADO REALTY TRUST        SH BEN INT         929042109    1,340.9   2,3        35,000.0    SH          DEFINED     35,000 0  0
WAL MART STORES INC         COM                931142103    3,426.6   1,3        64,500.0    SH          DEFINED     64,500 0  0
WATSON PHARMACEUTICALS INC  COM                942683103    2,047.5   1,3        40,000.0    SH          DEFINED     40,000 0  0
WELLS FARGO & COMPANY       COM                949746101    5,568.8   1,3       100,000.0    SH          DEFINED    100,000 0  0
WESTERN RESOURCES INC       COM                959425109    6,699.2   2,3       270,000.0    SH          DEFINED    270,000 0  0
WGL HOLDINGS INC            COM                92924F106      821.8   2,3        27,000.0    SH          DEFINED     27,000 0  0
WILLIAMS COS INC            COM                969457100    3,566.9   1,3,4      89,312.0    SH          DEFINED     89,312 0  0
WIND RIVER SYSTEMS          COM                973149107    2,840.6   1,3        83,240.0    SH          DEFINED     83,240 0  0
WIND RIVER SYSTM            SUB NT CONV 5%02   973149AC1    3,539.3   1,3     3,078,000.0    PRN         DEFINED
WISCONSIN ENERGY CORP       COM                976657106    1,965.2   2,3        87,100.0    SH          DEFINED     87,100 0  0
XTRA CORP                   COM                984138107      772.3   1,3        16,089.0    SH          DEFINED     16,089 0  0
YOUNG BROADCASTING INC-A    CL A               987434107    2,179.8   2,3        65,100.0    SH          DEFINED     65,100 0  0
</TABLE>
                             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         28-386                Continental Assurance Company
      2         28-387                Continental Casualty Company
      3         28-346                CNA Financial Corporation
      4         28-172                The Continental Corporation