FORM 13F SUMMARY PAGE

Report Summary:

Number of Other Included Managers: 4

Form 13F Information Table Entry Total: 311

Form 13F Information Table Value Total:	 1,391,497.76 (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
<Page>
FORM 13F COVER PAGE

Report for the Calendar Year or Quarter Ended: June 30, 2002

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:     	Continental Assurance Company
Address:	CNA Plaza
		Chicago, Il 60685


13F File Number: 28-386

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:
August 9, 2002
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


The securities on which Continental Assurance Company exercises
investment discretion have been reported upon by CNA Financial
Corporation on behalf of Continental Assurance Company.

<Table><S><C>
FORM 13F INFORMATION TABLE
			TITLE                    VALUE 	        OTH	 SHARES/ 	SH/	PUT/	 INVSTMT 	VOTING AUTHORITY
NAME OF ISSUER	       OFCLASS  CUSIP	         (x1000) 	MGRS	 PRN AMT 	PRN	CALL	 DSCRETN 	SOLE	SHRD	NONE
ACCENTURE LTD-CL A	CL A	G1150G111	 2,490.90 	2,3	 131,100.00 	SH		DEFINED	 131,100
ACME COMMUNICATIONS INC	COM	004631107	 485.62 	2,3	 66,071.00 	SH		DEFINED	 66,071
ACUITY BRANDS INC	COM	00508Y102	 490.49 	1,3	 26,950.00 	SH		DEFINED	 26,950
ACXIOM CORP	        COM	005125109	 979.44 	1,3	 56,000.00 	SH		DEFINED	 56,000
AETNA INC	        COM	00817Y108	 1,385.13 	1,3	 28,875.00 	SH		DEFINED	 28,875
AFFIL COMPUTER	     SUBNTCV3.5	008190AF7	 3,057.60 	1,3	 2,400,000.00 	PRN		DEFINED	 55,256
AFFILIATED COMPUTER-A  CL A	008190100	 2,013.15 	1,3	 42,400.00 	SH		DEFINED	 42,400
AGCO CORP	       COM	001084102	 138.94 	1,3	 7,125.00 	SH		DEFINED	 7,125
AGERE SYSTEMS INC-A	CL A	00845V100	 909.86 	2,3	 649,900.00 	SH		DEFINED	 649,900
AGILENT TECH INC	COM	00846U101	 4,235.72 	1,2,3	 179,100.00 	SH		DEFINED	 179,100
ALCOA INC	        COM	013817101	 4,906.20 	1,2,3	 148,000.00 	SH		DEFINED	 148,000
ALLSTATE CORPORATION	COM	020002101	 761.79 	1,3	 20,600.00 	SH		DEFINED	 20,600
ALLTEL CORP	        COM	020039103	 8,836.00 	1,2,3	 188,000.00 	SH		DEFINED	 188,000
AMBAC FINANCIAL GRP INC	COM	023139108	 7,392.00 	1,2,3	 110,000.00 	SH		DEFINED	 110,000
AMER INTL GROUP	     DBCV 11/0	026874AP2	 1,224.60 	2,3	 2,000,000.00 	PRN		DEFINED	 12,125
AMERADA HESS            COM	023551104	 9,075.00 	1,2,3	 110,000.00 	SH		DEFINED	 110,000
AMERICA ONLINE	        NOTE	02364JAC8	 6,349.50 	2,3	 12,450,000.00 	PRN		DEFINED	 72,631
AMERICAN EXPRESS        COM	025816109	 2,360.80 	1,3	 65,000.00 	SH		DEFINED	 65,000
AMERICAN INTL GROUP INC	COM	026874107	 2,899.78 	1,3	 42,500.00 	SH		DEFINED	 42,500
AMERICAN NATL INSURANCE	COM     028591105	 481.50 	1,3	 5,000.00 	SH		DEFINED	 5,000
AMERICAN PHYSICIANS CAP COM	028884104	 520.54 	1,3	 28,200.00 	SH		DEFINED	 28,200
AMERISOURCEBERGEN CORP	COM	03073E105	 3,124.36 	1,3	 41,110.00 	SH		DEFINED	 41,110
AMGEN INC	        COM	031162100	 5,645.42 	1,2,3	 134,800.00 	SH		DEFINED	 134,800
ANADARKO PETROLEUM CORP	COM	032511107	 5,780.43 	2,3	 117,250.00 	SH		DEFINED	 117,250
ANIXTER INTL INC	COM	035290105	 328.41 	1,3	 13,975.00 	SH		DEFINED	 13,975
ANNUITY & LIFE RE HLDGS ORD	G03910109	 217.98 	1,3	 12,050.00 	SH		DEFINED	 12,050
ANTEC CORP	  NOTE 4.5% 5/1	03664PAB1	 2,019.38 	2,3	 2,250,000.00 	PRN		DEFINED	 93,750
AON CORP	        COM	037389103	 11,644.60 	1,2,3	 395,000.00 	SH		DEFINED	 395,000
APACHE CORP	        COM	037411105	 2,327.94 	1,3	 40,500.00 	SH		DEFINED	 40,500
APPLIED MATERIALS INC.  COM	038222105	 2,624.76 	1,3	 138,000.00 	SH		DEFINED	 138,000
ARDEN REALTY GROUP INC	COM	039793104	 1,007.13 	2,3	 35,400.00 	SH		DEFINED	 35,400
ARRIS GROUP	        COM	04269Q100	 175.96 	2,3	 40,000.00 	SH		DEFINED	 40,000
ARTESYN TECH INC        COM	043127109	 392.26 	1,3	 60,525.00 	SH		DEFINED	 60,525
ARVINMERITOR INC	COM	043353101	 349.80 	1,3	 14,575.00 	SH		DEFINED	 14,575
AT & T CORPORATION	COM	001957109	 4,315.31 	2,3	 403,300.00 	SH		DEFINED	 403,300
AT&T WIRELESS SRVCS INC	COM	00209A106	 549.86 	2,3	 93,993.00 	SH		DEFINED	 93,993
ATLAS AIR WORLDWIDE HLDGS COM	049164106	 181.30 	2,3,4	 49,000.00 	SH		DEFINED	 49,000
AVAYA INC	        COM	053499109	 509.36 	1,2,3	 102,900.00 	SH		DEFINED	 102,900
AVAYA INC	    LYN10/31/21	053499AA7	 1,622.16 	1,2,3	 4,500,000.00 	PRN		DEFINED	 168,497
BARNES & NOBLE INC	COM	067774109	 1,492.77 	1,3	 56,480.00 	SH		DEFINED	 56,480
BARRICK GOLD CORP	COM	067901108	 1,875.37 	2,3	 150,000.00 	SH		DEFINED	 150,000
BECTON DICKINSON & CO	COM	075887109	 2,308.15 	2,3	 67,000.00 	SH		DEFINED	 67,000
BEDFORD PRPTY INVESTORS	COMPR.02 076446301	 154.47 	2,3	 5,700.00 	SH		DEFINED	 5,700
BELLSOUTH CORP	        COM	079860102	 2,520.00 	2,3	 80,000.00 	SH		DEFINED	 80,000
BISYS GROUP	       SBCV4	055472AB0	 3,118.52 	1,3	 2,650,000.00 	PRN		DEFINED	 79,356
BISYS GROUP INC/THE	COM	055472104	 1,691.64 	1,3	 50,800.00 	SH		DEFINED	 50,800
BJ SERVICES CO	        COM	055482103	 1,524.60 	1,2,3	 45,000.00 	SH		DEFINED	 45,000
BKF CAPITAL GROUP INC	COM	05548G102	 188.81 	1,3	 6,625.00 	SH		DEFINED	 6,625
BOEING COMPANY	        COM	097023105	 1,207.13 	1,3	 26,825.00 	SH		DEFINED	 26,825
BORG WARNER AUTO INC    COM	099724106	 457.75 	1,3	 7,925.00 	SH		DEFINED	 7,925
BOSTON PROPERTIES INC	COM	101121101	 1,198.50 	2,3	 30,000.00 	SH		DEFINED	 30,000
BOWNE & CO INC	        COM	103043105	 457.68 	1,3	 31,050.00 	SH		DEFINED	 31,050
BRANDYWINE REALTY TRUST	SHINTNW	105368203	 510.23 	2,3	 19,700.00 	SH		DEFINED	 19,700
BRISTOL-MYERS SQUIBB CO	COM	110122108	 4,518.06 	2,3	 175,800.00 	SH		DEFINED	 175,800
BURLINGTON RESOURCES INC COM	122014103	 2,116.60 	2,3	 55,700.00 	SH		DEFINED	 55,700
BURR-BROWN CORP	   NOTE 4.25 2/1 122574AF3	 1,011.61 	2,3	 1,000,000.00 	PRN		DEFINED	 22,497
CABLEVISION SYSTEMS  -  CL A	12686C109	 1,674.42 	1,2,3	 177,000.00 	SH		DEFINED	 177,000
CARDINAL HEALTH  INC.	COM	14149Y108	 3,957.08 	1,3	 64,437.00 	SH		DEFINED	 64,437
CARNIVAL CORP	        COM	143658102	 9,170.93 	1,2,3	 331,200.00 	SH		DEFINED	 331,200
CATELLUS DEVELOPMENT CORP COM	149111106	 2,199.72 	2,3	 107,724.00 	SH		DEFINED	 107,724
CELESTICA INC	     SUBVTGSHS	15101Q108	 2,250.56 	1,2,3	 99,100.00 	SH		DEFINED	 99,100
CELESTICA INC	      LYONZR	15101QAA6	 10,279.10 	1,2,3	 24,380,000.00 	PRN		DEFINED	 138,352
CENDANT CORP	       DEBT	151313AF0	 9,382.09 	1,2,3	 14,005,000.00 	PRN		DEFINED	 467,767
CENDANT CORPORATION	COM	151313103	 4,217.73 	1,2,3	 265,600.00 	SH		DEFINED	 265,600
CENTEX CORP	        COM	152312104	 751.27 	1,3	 13,000.00 	SH		DEFINED	 13,000
CEPHALON INC	        COM	156708109	 1,310.80 	1,3	 29,000.00 	SH		DEFINED	 29,000
CHARLES RIVER	  DBCV 3.5 2/0	159863AL3	 1,611.31 	1,3	 1,450,000.00 	PRN		DEFINED	 37,304
CHARLES RIVER LABS	COM	159864107	 949.86 	1,3	 27,100.00 	SH		DEFINED	 27,100
CHARTER COMM INC	SUBCV5.75 16117MAB3     2,994.60 	2,3	 5,600,000.00 	PRN		DEFINED	 259,740
CHARTER COMMUNICATIONS- CLA	16117M107	 1,978.80 	1,2,3	 485,000.00 	SH		DEFINED	 485,000
CHIRON CORP	         COM	170040109	 3,146.15 	1,2,3	 89,000.00 	SH		DEFINED	 89,000
CHIRON CORP	       LYONZR31	170040AE9	 29,897.88 	1,2,3	 54,500,000.00 	PRN		DEFINED	 390,291
CISCO SYSTEMS INC	 COM	17275R102	 3,417.75 	1,3	 245,000.00 	SH		DEFINED	 245,000
CITIGROUP INC	         COM	172967101	 7,478.75 	1,2,3	 193,000.00 	SH		DEFINED	 193,000
CLEAR CHANNEL	     NOTE2.625	184502AB8	 2,854.80 	2,3	 3,000,000.00 	PRN		DEFINED	 48,426
CLEAR CHANNEL	     NOTE1.5	184502AE2	 6,240.00 	2,3	 6,500,000.00 	PRN		DEFINED	 61,425
CLEAR CHANNEL   	COM	184502102	 1,761.10 	1,2,3	 55,000.00 	SH		DEFINED	 55,000
CLEVELAND-CLIFFS INC	COM	185896107	 467.13 	1,3	 16,925.00 	SH		DEFINED	 16,925
CNA SURETY CORPORATION	COM	12612L108	 399,035.89 	2,3,4	 27,425,147.00 	SH		DEFINED	 27,425,147
CNF INC	                COM	12612W104	 1,867.67 	1,3	 49,175.00 	SH		DEFINED	 49,175
COCA COLA CO            COM	191216100	 1,960.00 	1,3	 35,000.00 	SH		DEFINED	 35,000
COLT TELECOM GROUP-   SPNSADR	196877104	 14.98 	        2,3	 5,760.00 	SH		DEFINED	 5,760
COMCAST CORP CL A SPL	CLASPL	200300200	 2,145.60 	1,3	 90,000.00 	SH		DEFINED	 90,000
COMMSCOPE INC	        COM	203372107	 237.50 	1,3	 19,000.00 	SH		DEFINED	 19,000
COMPUTER ASSOC INTL INC	COM	204912109	 1,280.34 	1,3	 80,575.00 	SH		DEFINED	 80,575
CONOCO INC	        COM	208251504	 1,876.50 	2,3	 67,500.00 	SH		DEFINED	 67,500
CORRECTIONS CORP    PFDCVB12	22025Y308	 0.05 	        2,3	 2.00 	        SH		DEFINED	 2
CSX CORP.	        COM	126408103	 2,909.15 	2,3	 83,000.00 	SH		DEFINED	 83,000
CYTEC INDUSTRIES INC	COM	232820100	 1,428.16 	1,3	 45,425.00 	SH		DEFINED	 45,425
DARDEN RESTAURANTS INC	COM	237194105	 296.40 	1,3	 12,000.00 	SH		DEFINED	 12,000
DEL MONTE FOODS CO	COM	24522P103	 429.23 	1,3	 36,375.00 	SH		DEFINED	 36,375
DELL COMPUTER CORP	COM	247025109	 2,091.20 	1,3	 80,000.00 	SH		DEFINED	 80,000
DELPHI FINANCIAL GROUP-	CL A	247131105	 5,531.46 	1,2,3	 127,600.00 	SH		DEFINED	 127,600
DILLARDS INC-CL A	CL A	254067101	 406.18 	1,3	 15,450.00 	SH		DEFINED	 15,450
DOMINION RESOURCES INC	COM	25746U109	 1,655.00 	1,2,3	 25,000.00 	SH		DEFINED	 25,000
DR HORTON INC	        COM	23331A109	 14,837.10 	1,2,3	 570,000.00 	SH		DEFINED	 570,000
DTE ENERGY COMPANY	COM	233331107	 892.80 	2,3	 20,000.00 	SH		DEFINED	 20,000
DU PONT DE NEMOURS E.I. COM	263534109	 888.00 	2,3	 20,000.00 	SH		DEFINED	 20,000
DYCOM INDUSTRIES INC	COM	267475101	 2,641.17 	2,3	 225,934.00 	SH		DEFINED	 225,934
DYNEGY INC-CL A	       CL A	26816Q101	 50.22 	        1,3	 6,975.00 	SH		DEFINED	 6,975
EATON VANCE CORP      COMNOVTG	278265103	 770.64 	1,2,3	 24,700.00 	SH		DEFINED	 24,700
ECHOSTAR COMM	      SBCV4.875	278762AD1	 453.59 	1,3	 590,000.00 	PRN		DEFINED	 12,984
ECHOSTAR COMMUNICATIONS CL A	278762109	 179.75 	1,3	 9,685.00 	SH		DEFINED	 9,685
EDO CORP	        COM	281347104	 333.45 	1,3	 11,700.00 	SH		DEFINED	 11,700
EL PASO CORP	        COM	28336L109	 3,011.12 	2,3	 146,100.00 	SH		DEFINED	 146,100
ELDERTRUST	     COMSHINT	284560109	 1,644.78 	2,3	 208,200.00 	SH		DEFINED	 208,200
ELEC DATA SYSTEM     SRCVZRO	285661AB0	 15,636.81 	1,2,3	 21,000,000.00 	PRN		DEFINED	 204,317
ELECTRONIC DATA SYSTEMS	COM	285661104	 1,355.98 	1,2,3	 36,500.00 	SH		DEFINED	 36,500
ENCANA CORP	        COM	292505104	 1,397.47 	2,3	 45,669.00 	SH		DEFINED	 45,669
ENTERASYS NETWORKS INC	COM	293637104	 366.95 	1,3	 206,150.00 	SH		DEFINED	 206,150
ESTERLINE TECH CORP	COM	297425100	 586.23 	1,3	 25,825.00 	SH		DEFINED	 25,825
FIFTH THIRD BANCORP     COM	316773100	 333.25 	1,3	 5,000.00 	SH		DEFINED	 5,000
FIRST CITIZENS BCSHS  -CL A	31946M103	 55.30 	        1,3	 500.00 	SH		DEFINED	 500
FIRST DATA CORP         COM	319963104	 4,464.00 	1,3	 120,000.00 	SH		DEFINED	 120,000
FLEET BOSTON FINANCIAL  COM	339030108	 1,455.75 	2,3	 45,000.00 	SH		DEFINED	 45,000
FLEMING COS INC	        COM	339130106	 1,130.75 	1,3	 62,300.00 	SH		DEFINED	 62,300
FMC CORP (NEW)	      COMNEW	302491303	 1,325.22 	1,3	 43,925.00 	SH		DEFINED	 43,925
FMC TECHNOLOGIES INC	COM	30249U101	 208.64 	1,3	 10,050.00 	SH		DEFINED	 10,050
FOOT LOCKER INC	        COM	344849104	 1,713.77 	1,3	 118,600.00 	SH		DEFINED	 118,600
FOOTSTAR INC	        COM	344912100	 216.56 	1,3	 8,850.00 	SH		DEFINED	 8,850
FORD CAP TRST II PFD TR CV6.5%	345395206	 25,875.00 	1,2,3	 460,000.00 	SH		DEFINED	 460,000
FORD MOTOR COMPANY	COM.01	345370860	 15,520.00 	1,2,3	 970,000.00 	SH		DEFINED	 970,000
FPL GROUP               COM	302571104	 5,465.09 	1,2,3	 91,100.00 	SH		DEFINED	 91,100
FRANKLIN RES INC	NOTE 5/1 354613AC5	 23,672.80 	2,3	 40,000,000.00 	PRN		DEFINED	 374,416
FREDDIE MAC	        COM	313400301	 13,708.80 	1,2,3	 224,000.00 	SH		DEFINED	 224,000
FREEPORT MCMORAN COP&GLD CLB	35671D857	 1,260.66 	1,3	 70,625.00 	SH		DEFINED	 70,625
FRONTLINE LTD.	         ORD	G3682E127	 2,383.05 	1,2,3	 250,000.00 	SH		DEFINED	 250,000
GABLES RESIDENTIAL TRUST SHINT	362418105	 441.43 	1,3	 13,825.00 	SH		DEFINED	 13,825
GENENTECH INC	        COMNEW	368710406	 1,306.50 	1,3	 39,000.00 	SH		DEFINED	 39,000
GENERAL CABLE CORP	COM	369300108	 254.52 	1,3	 40,400.00 	SH		DEFINED	 40,400
GENERAL ELECTRIC CO      COM	369604103	 3,979.85 	1,3	 137,000.00 	SH		DEFINED	 137,000
GENERAL MOTORS CORP      COM	370442105	 21,914.50 	1,2,3	 410,000.00 	SH		DEFINED	 410,000
GENERAL MOTORS-HUGHES ELCT CLH	370442832	 816.40 	2,3	 78,500.00 	SH		DEFINED	 78,500
GENUITY INC-A	         CLA	37248E202	 38.00 	        2,3	 10,000.00 	SH		DEFINED	 10,000
GEORGIA-PACIFIC CORP	COMGAPAC 373298108	 939.57 	1,3	 38,225.00 	SH		DEFINED	 38,225
GLIMCHER REALTY TRUST	SHINT	379302102	 793.65 	1,3	 42,900.00 	SH		DEFINED	 42,900
GREAT LAKES REIT INC	COM	390752103	 1,233.70 	2,3	 65,000.00 	SH		DEFINED	 65,000
HARRIS CORP	        COM	413875105	 362.40 	1,3	 10,000.00 	SH		DEFINED	 10,000
HCA INC                 COM	404119109	 3,800.00 	1,3	 80,000.00 	SH		DEFINED	 80,000
HEALTH CARE PPTYS INVEST INC COM 421915109	 1,415.70 	2,3	 33,000.00 	SH		DEFINED	 33,000
HEALTH NET INC	        COM	42222G108	 1,531.91 	1,3	 57,225.00 	SH		DEFINED	 57,225
HEALTHCARE REALTY TRUST INC COM	421946104	 7,292.80 	1,2,3	 227,900.00 	SH		DEFINED	 227,900
HEALTHSOUTH CORP	SBCV3.35 421924AF8	 3,920.00 	2,3	 4,000,000.00 	PRN		DEFINED	 109,200
HEALTHSOUTH CORP.        COM	421924101	 7,993.75 	2,3	 625,000.00 	SH		DEFINED	 625,000
HEARST-ARGYLE TELEVISION INC COM 422317107	 3,720.75 	1,2,3	 165,000.00 	SH		DEFINED	 165,000
HERCULES INC	         COM	427056106	 911.76 	2,3	 78,600.00 	SH		DEFINED	 78,600
HEWLETT-PACKARED CO      COM	428236103	 935.14 	1,3	 61,200.00 	SH		DEFINED	 61,200
HOME DEPOT               COM	437076102	 2,313.99 	1,3	 63,000.00 	SH		DEFINED	 63,000
HOUSEHOLD INTL INC	 COM	441815107	 7,952.00 	1,2,3	 160,000.00 	SH		DEFINED	 160,000
IDEC PHARMACEUTICALS CORP COM	449370105	 1,208.85 	1,2,3	 34,100.00 	SH		DEFINED	 34,100
IMC GLOBAL INC	         COM	449669100	 833.75 	2,3	 66,700.00 	SH		DEFINED	 66,700
INGERSOLL RAND CO	CL A	G4776G101	 1,369.80 	2,3	 30,000.00 	SH		DEFINED	 30,000
INSITUFORM TECHNOLOGIES-CL A	457667103         148.26 	2,3	 7,000.00 	SH		DEFINED	 7,000
INSWEB CORPORATION	COM	45809K202	 252.04 	2,3	 112,019.50 	SH		DEFINED	 112,020
INTEL CORP	        COM	458140100	 1,446.98 	1,3	 79,200.00 	SH		DEFINED	 79,200
INTERNATIONAL BUS MACHINE COM	459200101	 16,416.00 	1,2,3	 228,000.00 	SH		DEFINED	 228,000
INTERNATIONAL PAPER CO.	 COM	460146103	 4,358.00 	2,3	 100,000.00 	SH		DEFINED	 100,000
INTERSTATE BAKERIES	 COM	46072H108	 232.48 	1,3	 8,050.00 	SH		DEFINED	 8,050
INTL RECTIFIER CORP	 COM	460254105	 376.04 	1,3	 12,900.00 	SH		DEFINED	 12,900
IONICS INC	         COM	462218108	 1,697.50 	2,3	 70,000.00 	SH		DEFINED	 70,000
IPC HOLDINGS LTD	 ORD	G4933P101	 1,060.50 	1,3	 34,725.00 	SH		DEFINED	 34,725
IVAX CORP	         COM	465823102	 653.67 	1,3	 60,525.00 	SH		DEFINED	 60,525
IVAX CORP	      SRSBNTCV	465823AD4	 1,953.00 	1,3	 2,400,000.00 	PRN		DEFINED	 80,754
JOHNSON & JOHNSON       COM	478160104	 2,108.17 	1,2,3	 40,340.00 	SH		DEFINED	 40,340
KELLWOOD CO	        COM	488044108	 364.81 	1,3	 11,225.00 	SH		DEFINED	 11,225
KENNAMETAL INC	        COM	489170100	 366.00 	1,3	 10,000.00 	SH		DEFINED	 10,000
KERR MC GEE CORP	COM	492386107	 7,497.00 	1,2,3	 140,000.00 	SH		DEFINED	 140,000
KEY3MEDIA GROUP	        COM	49326R104	 17.92 	        1,3	 38,950.00 	SH		DEFINED	 38,950
KEYSPAN CORP	        COM	49337W100	 564.75 	2,3	 15,000.00 	SH		DEFINED	 15,000
KINDRED HEALTHCARE INC	COM	494580103	 13.96 	        2,3	 314.00 	SH		DEFINED	 314
KULICKE & SOFFA	     SUBCV5.75	501242AE1	 2,898.00 	1,3	 3,450,000.00 	PRN		DEFINED	 150,657
KULICKE & SOFFA         COM	501242101	 1,305.91 	1,3	 105,400.00 	SH		DEFINED	 105,400
L-3 COMMUNICATIONS CORP	COM	502424104	 4,845.96 	1,3	 89,740.00 	SH		DEFINED	 89,740
LABORATORY CRP AMER HLDGS COMNEW 50540R409	 8,783.06 	1,2,3	 192,400.00 	SH		DEFINED	 192,400
LAMAR ADVERTISIN        NTCV5.25 512815AF8	 2,844.52 	1,3	 2,800,000.00 	PRN		DEFINED	 60,540
LAMAR ADVERTISING CO	CL A	512815101	 1,453.05 	1,3	 39,050.00 	SH		DEFINED	 39,050
LATTICE SEMICOND     SUBCV4.75  518415AC8	 2,084.71 	1,3	 2,450,000.00 	PRN		DEFINED	 118,243
LATTICE SEMICONDUCTOR  COM	518415104	 776.11 	1,3	 88,800.00 	SH		DEFINED	 88,800
LEAR CORP	       COM	521865105	 1,233.72 	1,3	 26,675.00 	SH		DEFINED	 26,675
LEHMAN BROS HLDG     FRNT 4/0	524908EC0	 2,537.50 	2,3	 2,500,000.00 	PRN		DEFINED	 26,016
LIBERTY MEDIA	      COMA	530718105	 13,480.48 	1,2,3	 1,348,048.00 	SH		DEFINED	 1,348,048
LINCOLN NATIONAL CORP IN COM	534187109	 3,780.00 	1,2,3	 90,000.00 	SH		DEFINED	 90,000
LOCKHEED MARTIN CORP    COM	539830109	 3,266.50 	1,3	 47,000.00 	SH		DEFINED	 47,000
LONGVIEW FIBRE CO	COM	543213102	 538.82 	2,3	 57,200.00 	SH		DEFINED	 57,200
LOWES COMPANIES	     NOTE.861	548661CG0	 19,466.80 	1,2,3	 20,000,000.00 	PRN		DEFINED	 344,240
LOWE'S COS INC	        COM	548661107	 7,431.07 	1,2,3	 163,680.00 	SH		DEFINED	 163,680
LUBRIZOL CORP	        COM	549271104	 1,330.79 	1,3	 39,725.00 	SH		DEFINED	 39,725
LUCENT TECHNOLOGIES	COM	549463107	 4,579.11 	1,2,3	 2,758,500.00 	SH		DEFINED	 2,758,500
MARATHON OIL CORP	COM	565849106	 5,535.87 	1,2,3	 204,125.00 	SH		DEFINED	 204,125
MAXTOR CORP	        COM	577729205	 204.98 	1,3	 45,350.00 	SH		DEFINED	 45,350
MBIA INC	        COM	55262C100	 1,413.25 	2,3	 25,000.00 	SH		DEFINED	 25,000
MEDTRONIC INC	        COM	585055106	 6,127.55 	1,3	 143,000.00 	SH		DEFINED	 143,000
MERRILL LYNCH	      NOTE 5/2	590188A65	 14,187.60 	1,2,3	 28,000,000.00 	PRN		DEFINED	 159,004
MERRILL LYNCH	      FRNT 3/1	590188A73	 35,268.13 	1,2,3	 36,500,000.00 	PRN		DEFINED	 504,477
MERRILL LYNCH & CO 	COM	590188108	 4,803.30 	1,2,3	 118,600.00 	SH		DEFINED	 118,600
METLIFE INC	        COM	59156R108	 5,702.40 	1,2,3	 198,000.00 	SH		DEFINED	 198,000
MICRON TECHNOLOGY INC	COM	595112103	 1,516.50 	1,3	 75,000.00 	SH		DEFINED	 75,000
MICROSOFT CORP	        COM	594918104	 3,008.50 	1,3	 55,000.00 	SH		DEFINED	 55,000
MILACRON INC	        COM	598709103	 433.15 	1,3	 42,675.00 	SH		DEFINED	 42,675
MONSANTO CO	        COM	61166W101	 563.82 	1,3	 31,675.00 	SH		DEFINED	 31,675
MORGAN STANLEY INDIA INVEST COM	61745C105	 530.06 	2,3	 57,366.00 	SH		DEFINED	 57,366
MSDW ASIA PACIFIC FUND	COM	61744U106	 2,175.71 	2,3	 252,990.00 	SH		DEFINED	 252,990
NABORS INDS INC	       DBCV	629568AF3	 7,068.00 	2,3	 12,000,000.00 	PRN		DEFINED	 84,894
NABORS INDUSTRIES INC	COM	629568106	 317.70 	1,3	 9,000.00 	SH		DEFINED	 9,000
NACCO INDUSTRIES-CL A	CL A	629579103	 527.26 	1,3	 9,075.00 	SH		DEFINED	 9,075
NATIONWIDE FINANCIAL SERV-A CL A 638612101	 1,975.00 	2,3	 50,000.00 	SH		DEFINED	 50,000
NEWHALL LAND & FARMING CO-LP DEPREC 651426108	 3,536.00 	2,3	 110,500.00 	SH		DEFINED	 110,500
NEWMONT MINING CORP HLDG CO COM	 651639106	 1,711.45 	2,3	 65,000.00 	SH		DEFINED	 65,000
NEWS AMER INC	        NOTE	652482AZ3	 33,115.52 	1,2,3	 70,300,000.00 	PRN		DEFINED	 854,025
NEWS CORP LTD -SPONS   ADRNEW	652487703	 458.60 	2,3	 20,000.00 	SH		DEFINED	 20,000
NIKE INC CL B	        CL B	654106103	 1,877.75 	1,3	 35,000.00 	SH		DEFINED	 35,000
NORFOLK SOUTHERN CORP.	COM	655844108	 13,209.70 	2,3	 565,000.00 	SH		DEFINED	 565,000
NORTH FORK BANCORP      COM	659424105	 3,981.00 	2,3	 100,000.00 	SH		DEFINED	 100,000
NVIDIA CORP	        COM	67066G104	 625.35 	1,3	 36,400.00 	SH		DEFINED	 36,400
NVIDIA CORP	   SBNTCV4.75	67066GAA2	 1,849.73 	1,3	 2,250,000.00 	PRN		DEFINED	 48,538
OGDEN CORP	SDCV 6.0% 6/0	676346AC3	 687.50 	2,3	 2,500,000.00 	PRN		DEFINED	 63,976
OLD REPUBLIC INTL CORP	COM	680223104	 8,089.20 	1,2,3	 256,800.00 	SH		DEFINED	 256,800
OMNICOM GROUP	        COM	681919106	 2,322.06 	1,2,3	 50,700.00 	SH		DEFINED	 50,700
OMNICOM GROUP	        NOTE	681919AK2	 8,340.12 	2,3	 9,000,000.00 	PRN		DEFINED	 81,810
ON COMMAND COR-        WTBEX	682160122	 5.66 	        2,3	 113,266.00 	SH	CALL	DEFINED	 113,266
PACIFICARE HEALTH SYSTEMS COM	695112102	 377.40 	1,3	 13,875.00 	SH		DEFINED	 13,875
PALL CORP	        COM	696429307	 2,282.50 	2,3	 110,000.00 	SH		DEFINED	 110,000
PATHMARK STORES INC	COM	70322A101	 13,814.67 	2,3	 734,432.00 	SH		DEFINED	 734,432
PAYCHEX INC	        COM	704326107	 17.52 	        2,3	 560.00 	SH		DEFINED	 560
PAYLESS SHOESOURCE INC	COM	704379106	 1,634.38 	1,3	 28,350.00 	SH		DEFINED	 28,350
PEABODY ENERGY CORP	COM	704549104	 1,981.00 	1,3	 70,000.00 	SH		DEFINED	 70,000
PEPSI BOTTLING GRP INC	COM	713409100	 6,160.00 	2,3	 200,000.00 	SH		DEFINED	 200,000
PEPSICO INCORPORATED	COM	713448108	 3,952.40 	1,3	 82,000.00 	SH		DEFINED	 82,000
PERFORMANCE FOOD    SUBNTCV5.5	713755AA4	 3,263.00 	1,3	 2,600,000.00 	PRN		DEFINED	 78,907
PERFORMANCE FOOD GRP CO	COM	713755106	 2,202.59 	1,3	 65,050.00 	SH		DEFINED	 65,050
PFIZER INC              COM	717081103	 5,705.00 	1,3	 163,000.00 	SH		DEFINED	 163,000
PHARMACIA CORPORATION	COM	71713U102	 2,628.99 	2,3	 70,200.00 	SH		DEFINED	 70,200
PHILLIPS PETROLEUM CO	COM	718507106	 674.18 	1,3	 11,450.00 	SH		DEFINED	 11,450
PHOENIX COMPANIES INC	COM	71902E109	 2,128.60 	2,3	 116,000.00 	SH		DEFINED	 116,000
PIONEER STANDARD ELECTR	COM	723877106	 513.01 	1,3	 49,375.00 	SH		DEFINED	 49,375
PLUM CREEK TIMBER CO	COM	729251108	 1,535.00 	2,3	 50,000.00 	SH		DEFINED	 50,000
PPL CORPORATION	        COM	69351T106	 992.40 	2,3	 30,000.00 	SH		DEFINED	 30,000
PRECISION DRILLING CORP	COM	74022D100	 1,153.37 	1,3	 33,200.00 	SH		DEFINED	 33,200
PREMCOR INC.	        COM	74045Q104	 72.02 	        2,3	 2,800.00 	SH		DEFINED	 2,800
PRESIDENTIAL LIFE CORP	COM	740884101	 166.72 	1,3	  8,225.00 	SH		DEFINED	 8,225
PRIME HOSPITALITY CORP	COM	741917108	 82.81 	        2,3	  6,375.00 	SH		DEFINED	 6,375
PROSPECT STREET INCOME SH COM	743590101	 1,016.08 	2,3	 161,282.86 	SH		DEFINED	 161,283
PROVINCE HEALTHC     SBNTCV4.5	743977AC4	 1,947.13 	1,3	 1,850,000.00 	PRN		DEFINED	 69,957
PROVINCE HEALTHCARE CO	COM	743977100	 1,086.70 	1,3	 48,600.00 	SH		DEFINED	 48,600
PRUDENTIAL FINANCIAL    COM	744320102	 2,401.92 	2,3	 72,000.00 	SH		DEFINED	 72,000
PUBLIC SVC CO N MEX 	COM	69349H107	 446.49 	1,3	 18,450.00 	SH		DEFINED	 18,450
PULTE CORP	        COM	745867101	 11,266.08 	1,2,3	 196,000.00 	SH		DEFINED	 196,000
QUALCOMM INC	        COM	747525103	 1,786.85 	1,3	 65,000.00 	SH		DEFINED	 65,000
QUANTUM CORP DLT & STORAGE COM DSSG 747906204	 497.70 	1,3	 118,500.00 	SH		DEFINED	 118,500
QWEST COMMUNICATIONS INTL COM	749121109	 980.00 	2,3	 350,000.00 	SH		DEFINED	 350,000
R.H. DONNELLEY CORP	COMNEW	74955W307	 478.29 	1,3	 17,100.00 	SH		DEFINED	 17,100
RADIAN GROUP INC	COM	750236101	 671.69 	1,3	 13,750.00 	SH		DEFINED	 13,750
RAYTHEON COMPANY	COMNEW	755111507	 1,525.68 	1,2,3	 37,440.00 	SH		DEFINED	 37,440
REGENERON PHARM	       NOTE 5.5	75886FAB3	 2,054.00 	2,3	 2,600,000.00 	PRN		DEFINED	 85,947
REPUBLIC BANCORP	COM	760282103	 447.53 	1,3	 29,955.00 	SH		DEFINED	 29,955
RESMED INC	        COM	761152107	 423.36 	1,3	 14,400.00 	SH		DEFINED	 14,400
RESMED INC	 NOTE 4.0% 6/2	761152AB3	 1,199.88 	1,3	 1,450,000.00 	PRN		DEFINED	 23,927
SARA LEE CORP	        COM	803111103	 1,066.06 	1,3	 51,650.00 	SH		DEFINED	 51,650
SCANA CORP              COM	80589M102	 1,994.85 	2,3	 64,621.00 	SH		DEFINED	 64,621
SCHLUMBERGER LIMITED	COM	806857108	 2,724.90 	1,3	 58,600.00 	SH		DEFINED	 58,600
SEMTECH CORP	        COM	816850101	 1,150.77 	1,3	 43,100.00 	SH		DEFINED	 43,100
SEMTECH CORP	     SBNTCV4.5	816850AD3	 2,273.28 	1,3	 2,400,000.00 	PRN		DEFINED	 56,832
SENIOR HOUSING PROP TRUST SHINT	 81721M109	 471.00 	2,3	 30,000.00 	SH		DEFINED	 30,000
SERVICEMASTER COMPANY	COM	81760N109	 1,032.43 	1,3	 75,250.00 	SH		DEFINED	 75,250
SHERWIN WILLIAMS CO	COM	824348106	 686.89 	1,3	 22,950.00 	SH		DEFINED	 22,950
SIRIUS SATELLITE RADIO  COM	82966U103	 6,102.66 	2,3	 1,619,172.00 	SH		DEFINED	 1,619,172
SIZELER PROP INV  SDCV 9.0% 7/1	830137AC9	 4,000.00 	2,3	 4,000,000.00 	PRN		DEFINED	 363,636
SOUTHTRUST CORP	        COM	844730101	 400.29 	1,3	 15,325.00 	SH		DEFINED	 15,325
SOUTHWEST AIR CO	COM	844741108	 323.20 	1,3	 20,000.00 	SH		DEFINED	 20,000
SPANISH BROADCASTING SYS CLA	846425882	 2,448.00 	2,3	 244,800.00 	SH		DEFINED	 244,800
SPRINT CORP-FON GROUP  COMFON	852061100	 212.20 	2,3	 20,000.00 	SH		DEFINED	 20,000
SPRINT CORP-PCS GROUP	PCSCOM1	852061506	 6,283.16 	1,2,3,4	 1,405,628.00 	SH		DEFINED	 1,405,628
STAR GAS PARTNER        SRSBUN	85512C204	 302.52 	2,3	 29,229.00 	SH		DEFINED	 29,229
STARBUCKS CORP	         COM	855244109	 1,739.50 	1,3	 70,000.00 	SH		DEFINED	 70,000
STEIN MART INC	         COM	858375108	 148.08 	1,3	 12,475.00 	SH		DEFINED	 12,475
SUNOCO INC	         COM	86764P109	 3,206.70 	2,3	 90,000.00 	SH		DEFINED	 90,000
TECH DATA CORP	         COM	878237106	 4,053.74 	1,2,3	 107,100.00 	SH		DEFINED	 107,100
TEEKAY SHIPPING CORP	 COM	Y8564W103	 7,400.46 	1,2,3	 200,500.00 	SH		DEFINED	 200,500
TEJON RANCH 	         COM	879080109	 1,215.98 	2,3	 37,300.00 	SH		DEFINED	 37,300
TELLABS INC	         COM	879664100	 632.56 	1,3	 102,025.00 	SH		DEFINED	 102,025
TENET HEALTHCARE CORP	 COM	88033G100	 500.85 	1,3	 7,000.00 	SH		DEFINED	 7,000
TJX COS INC	         NOTE	872540AL3	 9,017.32 	1,2,3	 11,800,000.00 	PRN		DEFINED	 385,471
TJX COS. INC.    NEW	 COM	872540109	 4,435.78 	1,2,3	 226,200.00 	SH		DEFINED	 226,200
TRANSOCEAN SEDCO	DBCV	893830AA7	 3,037.50 	2,3	 5,000,000.00 	PRN		DEFINED	 40,783
TRAVELERS PPTY CASUALT-	CL A 	89420G109	 708.00 	1,2,3	 40,000.00 	SH		DEFINED	 40,000
TRENWICK GROUP LTD	COM	G9032C109	 27,805.50 	2,3	 3,707,400.00 	SH		DEFINED	 3,707,400
TRIBUNE CO NEW	        COM	896047107	 3,915.00 	1,3	 90,000.00 	SH		DEFINED	 90,000
TRINITY INDUSTRIES      COM	896522109	 306.14 	1,3	 14,775.00 	SH		DEFINED	 14,775
TRIZEC PROPERTIES INC	COM	89687P107	 1,018.77 	1,3	 60,425.00 	SH		DEFINED	 60,425
TYCO INTERNATIONAL LTD	COM	902124106	 226.29 	1,3	 16,750.00 	SH		DEFINED	 16,750
UNION PACIFIC           COM	907818108	 1,227.63 	1,3	 19,400.00 	SH		DEFINED	 19,400
UNITED PARCEL SERVICE   CL B	911312106	 2,747.88 	1,3	 44,500.00 	SH		DEFINED	 44,500
UNIVERSAL CORP-VA	COM	913456109	 458.75 	1,3	 12,500.00 	SH		DEFINED	 12,500
UNOCAL CORP             COM	915289102	 923.50 	2,3	 25,000.00 	SH		DEFINED	 25,000
US BANCORP	        COM	902973304	 2,101.50 	1,2,3	 90,000.00 	SH		DEFINED	 90,000
USFREIGHTWAYS CORP	COM	916906100	 481.90 	1,3	 12,725.00 	SH		DEFINED	 12,725
VALERO ENERGY CORP	COM	91913Y100	 7,858.20 	1,2,3	 210,000.00 	SH		DEFINED	 210,000
VEECO INSTRUMENTS INC.	COM	922417100	 500.33 	1,3	 21,650.00 	SH		DEFINED	 21,650
VENATOR GROUP	      NOTE5.5	922944AB9	 2,825.00 	1,3	 2,500,000.00 	PRN		DEFINED	 158,168
VENTAS INC	        COM	92276F100	 2,585.06 	1,2,3	 202,750.00 	SH		DEFINED	 202,750
VIAD CORP	        COM	92552R109	 954.20 	1,3	 36,700.00 	SH		DEFINED	 36,700
VISHAY INTERTECHNOLOGY 	COM	928298108	 494.19 	1,3	 22,463.00 	SH		DEFINED	 22,463
WAL MART STORES INC	COM	931142103	 3,548.15 	1,3	 64,500.00 	SH		DEFINED	 64,500
WASHINGTON MUTUAL INC	COM	939322103	 1,186.59 	1,3	 31,975.00 	SH		DEFINED	 31,975
WELLS FARGO & COMPANY	COM	949746101	 5,006.00 	1,3	 100,000.00 	SH		DEFINED	 100,000
WEYERHAEUSER COMPANY	COM	962166104	 319.25 	1,3	 5,000.00 	SH		DEFINED	 5,000
WILLIAMS COS INC	COM	969457100	 13.85 	3,4	         2,312.00 	SH		DEFINED	 2,312
WILSONS THE LEATHER EXPERTS COM	972463103	 232.05 	1,3	 16,575.00 	SH		DEFINED	 16,575
WORLDCOM INC-WORLDCOM GRP COM	98157D106	 128.36 	1,3	 154,650.00 	SH		DEFINED	 154,650
XL CAPITAL LTD-CLASS A	CL A	G98255105	 550.55 	1,3	 6,500.00 	SH		DEFINED	 6,500
YOUNG BROADCASTING INC-	CL A	987434107	 1,180.59 	1,2,3	 66,400.00 	SH		DEFINED	 66,400

</Table>