Form 13F Cover Page
Report for the Calendar Year of Quarter Ended: December 31, 2001
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 8, 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.

Loews Corporation also has investment discretion over the securities
reported on herein by CNA Financial Corporation, 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.


FORM 13F SUMMARY PAGE

Report Summary:

Number of Other Included Managers: 4
Form 13F Information Table Entry Total: 330
Form 13F Information Table Value Total: 1,697,535.4 (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

<Table><S><C>
		 FORM 13F INFORMATION TABLE
			 VALUE 	OTHER	 SHARES/ 	SH/	PUT/	 INVSTMT 	VOTING AUTHORITY
NAME OF ISSUER	TITLE OF CLASS	CUSIP	 (x1000) 	MANAGERS	 PRN AMT 	PRN	CALL	 DSCRETN 	SOLE	SHARED	NONE
AGCO CORP	COM	001084102	 112 	3	 7,125 	SH		DEFINED	 7,125 	 -   	 -
AOL TIME WARNER	COM	00184A105	 2,054 	1,3	 64,000 	SH		DEFINED	 64,000 	 -   	 -
AT & T CORPORATION	COM	001957109	 6,258 	2,3	 345,000 	SH		DEFINED	 345,000 	 -   	 -
AT&T WIRELESS SERVICES INC	COM	00209A106	 1,063 	2,3	 73,993 	SH		DEFINED	 73,993 	 -   	 -
ACME COMMUNICATIONS INC	COM	004631107	 1,062 	1,3	 157,595 	SH		DEFINED	 157,595 	 -   	 -
ACTIVISION INC	COM NEW	004930202	 260 	1,3	 10,000 	SH		DEFINED	 10,000 	 -   	 -
ADELPHIA COMMUNICATIONS-CL A	CL A	006848105	 1,715 	2,3	 55,000 	SH		DEFINED	 55,000 	 -   	 -
AETNA INC	COM	00817Y108	 1,725 	3	 52,300 	SH		DEFINED	 52,300 	 -   	 -
AFFILIATED COMPUTER SVCS-A	CL A	008190100	 2,250 	1,3	 21,200 	SH		DEFINED	 21,200 	 -   	 -
AFFIL COMPUTER	SUB NT CV 3.5%06	008190AF7	 3,333 	1,3	 2,400,000 	PRN		DEFINED	 -   	 -   	 -
AGERE SYSTEMS INC-A	CL A	00845V100	 711 	2,3	 125,000 	SH		DEFINED	 125,000 	 -   	 -
AGILENT TECHNOLOGIES INC	COM	00846U101	 2,281 	1,2,3	 80,000 	SH		DEFINED	 80,000 	 -   	 -
AGILENT TECH INC	SR DEB CV 144A21	00846UAA9	 5,588 	1,2,3	 5,000,000 	PRN		DEFINED	 -   	 -   	 -
AIR PRODUCTS & CHEMICAL                 	COM	009158106	 1,173 	2,3	 25,000 	SH		DEFINED	 25,000 	 -   	 -
ALCOA INC	COM	013817101	 5,724 	1,2,3	 161,000 	SH		DEFINED	 161,000 	 -   	 -
ALLEGHENY ENERGY INC	COM	017361106	 6,157 	2,3	 170,000 	SH		DEFINED	 170,000 	 -   	 -
ALLMERICA FINANCIAL CORP	COM	019754100	 668 	2,3	 15,000 	SH		DEFINED	 15,000 	 -   	 -
ALLTEL CORP	COM	020039103	 6,204 	2,3	 100,500 	SH		DEFINED	 100,500 	 -   	 -
ALPHARMA INC-CL A	CL A	020813101	 784 	1,3	 29,640 	SH		DEFINED	 29,640 	 -   	 -
ALPHARMA INC	SR SB NT CV 3%06	020813AD3	 1,308 	1,3	 1,250,000 	PRN		DEFINED	 -   	 -   	 -
AMBAC FINANCIAL GROUP INC	COM	023139108	 5,497 	1,2,3	 95,000 	SH		DEFINED	 95,000 	 -   	 -
AMERADA HESS                            	COM	023551104	 6,875 	2,3	 110,000 	SH		DEFINED	 110,000 	 -   	 -
AMERICAN EXPRESS                        	COM	025816109	 5,125 	1,2,3	 143,600 	SH		DEFINED	 143,600 	 -   	 -
AMERICAN INTL GROUP INC	COM	026874107	 4,779 	1,2,3	 60,190 	SH		DEFINED	 60,190 	 -   	 -
AMERICAN NATIONAL INSURANCE	COM	028591105	 421 	3	 5,000 	SH		DEFINED	 5,000 	 -   	 -
AMERICAN PHYSICIANS CAP INC	COM	028884104	 613 	3	 28,200 	SH		DEFINED	 28,200 	 -   	 -
AMERISOURCEBERGEN CORP	COM	03073E105	 2,613 	1,3	 41,110 	SH		DEFINED	 41,110 	 -   	 -
ANADARKO PETROLEUM CORP	COM	032511107	 6,666 	2,3	 117,250 	SH		DEFINED	 117,250 	 -   	 -
ANIXTER INTERNATIONAL INC	COM	035290105	 405 	3	 13,975 	SH		DEFINED	 13,975 	 -   	 -
ANNTAYLOR STORES CORP	COM	036115103	 309 	3	 8,825 	SH		DEFINED	 8,825 	 -   	 -
AON CORP	COM	037389103	 16,694 	2,3	 470,000 	SH		DEFINED	 470,000 	 -   	 -
APACHE CORP	COM	037411105	 25 	1,3	 500 	SH		DEFINED	 500 	 -   	 -
APPLIED MATERIALS INC.                  	COM	038222105	 3,409 	1,3	 85,000 	SH		DEFINED	 85,000 	 -   	 -
ARCHER DANIELS                          	COM	039483102	 1,733 	2,3	 120,800 	SH		DEFINED	 120,800 	 -   	 -
ARDEN REALTY GROUP INC	COM	039793104	 938 	2,3	 35,400 	SH		DEFINED	 35,400 	 -   	 -
ARGUSS COMMUNICATIONS INC	COM	040282105	 2,752 	2,3	 677,874 	SH		DEFINED	 677,874 	 -   	 -
ARRIS GROUP	COM	04269Q100	 390 	2,3	 40,000 	SH		DEFINED	 40,000 	 -   	 -
ARVINMERITOR INC	COM	043353101	 147 	3	 7,475 	SH		DEFINED	 7,475 	 -   	 -
ATLAS AIR WORLDWIDE HLDGS	COM	049164106	 718 	2,3,4	 49,000 	SH		DEFINED	 49,000 	 -   	 -
AVAYA INC	COM	053499109	 1,372 	1,2,3	 112,900 	SH		DEFINED	 112,900 	 -   	 -
AVAYA INC	LYON 10/31/21	053499AA7	 2,430 	1,2,3	 4,500,000 	PRN		DEFINED	 -   	 -   	 -
BISYS GROUP INC (THE)	COM	055472104	 761 	1,3	 11,900 	SH		DEFINED	 11,900 	 -   	 -
BISYS GROUP	SB NT CV 4%06	055472AB0	 1,461 	1,3	 1,250,000 	PRN		DEFINED	 -   	 -   	 -
BARNES & NOBLE INC	COM	067774109	 1,672 	1,3	 56,480 	SH		DEFINED	 56,480 	 -   	 -
BARNES & NOBLE	SUB NT CV 144A09	067774AC3	 2,799 	1,3	 2,450,000 	PRN		DEFINED	 -   	 -   	 -
BEA SYSTEMS INC	COM	073325102	 2,226 	1,3	 144,500 	SH		DEFINED	 144,500 	 -   	 -
BEA SYSTEMS INC	SB NT CV 4%06	073325AD4	 2,010 	1,3	 2,350,000 	PRN		DEFINED	 -   	 -   	 -
BEDFORD PROPERTY INVESTORS	COM PAR .02	076446301	 128 	2,3	 5,700 	SH		DEFINED	 5,700 	 -   	 -
BELLSOUTH CORP	COM	079860102	 2,671 	2,3	 70,000 	SH		DEFINED	 70,000 	 -   	 -
BOEING COMPANY	COM	097023105	 1,040 	3	 26,825 	SH		DEFINED	 26,825 	 -   	 -
BORG WARNER AUTOMOTIVE INC              	COM	099724106	 111 	3	 2,125 	SH		DEFINED	 2,125 	 -   	 -
BOSTON PROPERTIES INC	COM	101121101	 1,140 	2,3	 30,000 	SH		DEFINED	 30,000 	 -   	 -
BOWNE & CO INC	COM	103043105	 137 	3	 10,700 	SH		DEFINED	 10,700 	 -   	 -
BUCKHEAD AMERICA CORP                   	COM	11835A105	 22 	2,3	 21,579 	SH		DEFINED	 21,579 	 -   	 -
BURLINGTON RESOURCES INC                	COM	122014103	 2,816 	2,3	 75,000 	SH		DEFINED	 75,000 	 -   	 -
CBRL GROUP INC	COM	12489V106	 1,090 	3	 37,025 	SH		DEFINED	 37,025 	 -   	 -
CMS ENERGY	ADJ CV TR8.75%	125896308	 302 	1,3	 10,000 	SH		DEFINED	 10,000 	 -   	 -
CNA SURETY CORPORATION	COM	12612L108	 425,090 	2,3,4	 27,425,147 	SH		DEFINED	 27,425,147 	 -   	 -
CNF INC	COM	12612W104	 1,650 	3	 49,175 	SH		DEFINED	 49,175 	 -   	 -
CABLEVISION SYSTEMS  -CL A	CL A NY CABLVS	12686C109	 6,026 	2,3	 127,000 	SH		DEFINED	 127,000 	 -   	 -
CABOT OIL & GAS CORP  -CL A	CL A	127097103	 1,203 	2,3	 50,000 	SH		DEFINED	 50,000 	 -   	 -
CALPINE CORPORATION	COM	131347106	 3,526 	1,2,3	 210,000 	SH		DEFINED	 210,000 	 -   	 -
CARDINAL HEALTH  INC.	COM	14149Y108	 4,166 	1,3	 64,437 	SH		DEFINED	 64,437 	 -   	 -
CARNIVAL CORP	COM	143658102	 9,581 	1,2,3	 341,200 	SH		DEFINED	 341,200 	 -   	 -
CATELLUS DEVELOPMENT CORP	COM	149111106	 1,982 	2,3	 107,724 	SH		DEFINED	 107,724 	 -   	 -
CELESTICA INC	SUB VTG SHS	15101Q108	 4,568 	1,2,3	 113,100 	SH		DEFINED	 113,100 	 -   	 -
CELESTICA INC	LYON ZERO 20	15101QAA6	 10,392 	1,2,3	 24,380,000 	PRN		DEFINED	 -   	 -   	 -
CENDANT CORPORATION	COM	151313103	 6,483 	1,2,3	 330,600 	AR		DEFINED	 -   	 -   	 -
CENTEX CORP	COM	152312104	 742 	3	 13,000 	AR		DEFINED	 -   	 -   	 -
CHARTER COMM INC	SUB NT CV5.75%05	16117MAB3	 4,126 	2,3	 4,000,000 	PRN		DEFINED	 -   	 -   	 -
CHIRON CORP	COM	170040109	 7,931 	1,2,3	 180,900 	SH		DEFINED	 180,900 	 -   	 -
CHIRON CORP	LYON ZERO 31	170040AE9	 29,941 	1,2,3	 54,500,000 	PRN		DEFINED	 -   	 -   	 -
CHUBB CORP	COM	171232101	 1,290 	3	 18,700 	SH		DEFINED	 18,700 	 -   	 -
CISCO SYSTEMS INC	COM	17275R102	 3,622 	1,3	 200,000 	SH		DEFINED	 200,000 	 -   	 -
CITIGROUP INC	COM	172967101	 10,601 	1,2,3	 210,000 	SH		DEFINED	 210,000 	 -   	 -
CLEAR CHANNEL COMMUNICATIONS	COM	184502102	 2,800 	1,2,3	 55,000 	SH		DEFINED	 55,000 	 -   	 -
CLEVELAND-CLIFFS INC	COM	185896107	 67 	3	 3,650 	SH		DEFINED	 3,650 	 -   	 -
COLT TELECOM GROUP-SPONS ADR	SPONS ADR	196877104	 21 	2,3	 3,000 	SH		DEFINED	 3,000 	 -   	 -
COMCAST CORP CL A SPL	CL A SPL	200300200	 4,320 	1,3	 120,000 	SH		DEFINED	 120,000 	 -   	 -
COMMUNICATION INTELLIGENCE	COM	20338K106	 422 	2,3	 660,000 	SH		DEFINED	 660,000 	 -   	 -
COMPUTER ASSOCIATES INTL INC	COM	204912109	 1,219 	3	 35,350 	SH		DEFINED	 35,350 	 -   	 -
CONOCO INC	COM	208251504	 7,570 	2,3	 267,500 	SH		DEFINED	 267,500 	 -   	 -
CONSTELLATION ENERGY GROUP	COM	210371100	 16,727 	2,3	 630,000 	SH		DEFINED	 630,000 	 -   	 -
COOPER INDUSTRIES INCORPORATED	COM	216669101	 1,297 	3	 37,150 	SH		DEFINED	 37,150 	 -   	 -
CORN PRODUCTS INTL INC	COM	219023108	 51 	3	 1,450 	SH		DEFINED	 1,450 	 -   	 -
CORRECTIONS CORP	PFD CV B 12%	22025Y308	 0 	2,3	 2 	SH		DEFINED	 2 	 -   	 -
COX COMMUNICATIONS INC-CL A	CL A	224044107	 515 	1,2,3	 12,300 	SH		DEFINED	 12,300 	 -   	 -
CYTEC INDUSTRIES INC	COM	232820100	 560 	3	 20,725 	SH		DEFINED	 20,725 	 -   	 -
DR HORTON INC	COM	23331A109	 13,633 	2,3	 420,000 	SH		DEFINED	 420,000 	 -   	 -
DEL MONTE FOODS CO	COM	24522P103	 310 	3	 36,375 	SH		DEFINED	 36,375 	 -   	 -
DELL COMPUTER CORP	COM	247025109	 1,631 	1,3	 60,000 	SH		DEFINED	 60,000 	 -   	 -
DELPHI FINANCIAL GROUP-CL A	CL A	247131105	 4,084 	2,3	 122,650 	SH		DEFINED	 122,650 	 -   	 -
DILLARDS INC-CL A	CL A	254067101	 510 	3	 31,875 	SH		DEFINED	 31,875 	 -   	 -
DOLLAR THRIFTY AUTOMOTIVE GP	COM	256743105	 1,783 	3	 115,000 	SH		DEFINED	 115,000 	 -   	 -
DOW CHEMICAL CORP                       	COM	260543103	 845 	2,3	 25,000 	SH		DEFINED	 25,000 	 -   	 -
DU PONT DE NEMOURS E.I.                 	COM	263534109	 850 	2,3	 20,000 	SH		DEFINED	 20,000 	 -   	 -
EMC CORPORATION                         	COM	268648102	 19 	2,3	 1,380 	SH		DEFINED	 1,380 	 -   	 -
EATON VANCE CORP	COM NON VTG	278265103	 1,045 	1,2,3	 29,400 	SH		DEFINED
ECHOSTAR COMMUNICATIONS - A             	CL A	278762109	 266 	1,3	 9,685 	SH		DEFINED	 9,685 	 -   	 -
ECHOSTAR COMM	SB NT CV 4.875%07	278762AD1	 530 	1,3	 590,000 	PRN		DEFINED	 -   	 -   	 -
ELDERTRUST	COM SH BEN INT	284560109	 1,707 	2,3	 208,200 	SH		DEFINED	 208,200 	 -   	 -
ELECTRONIC _DATA SYSTEMS_CORP	COM	285661104	 34,693 	1,2,3	 506,100 	SH		DEFINED	 506,100 	 -   	 -
ELEC DATA SYSTEM	SR NT CV ZERO 21	285661AB0	 30,143 	1,2,3	 36,000,000 	PRN		DEFINED	 -   	 -   	 -
EQUITY OFFICE PROPERTIES TR	COM	294741103	 301 	1,3	 10,000 	SH		DEFINED	 10,000 	 -   	 -
ESTERLINE TECHNOLOGIES CORP	COM	297425100	 413 	3	 25,825 	SH		DEFINED	 25,825 	 -   	 -
EXELON CORP	COM	30161N101	 7,182 	2,3	 150,000 	SH		DEFINED	 150,000 	 -   	 -
FMC CORP (NEW)	COM NEW	302491303	 5,584 	3	 93,850 	SH		DEFINED	 93,850 	 -   	 -
FPL GROUP                               	COM	302571104	 5,922 	2,3	 105,000 	SH		DEFINED	 105,000 	 -   	 -
FREDDIE MAC	COM	313400301	 3,008 	1,3	 46,000 	SH		DEFINED	 46,000 	 -   	 -
FEDERATED DEPART STORES INC	COM	31410H101	 4,704 	1,2,3	 115,000 	SH		DEFINED	 115,000 	 -   	 -
FIRST CITIZENS BCSHS  -CL A	CL A	31946M103	 49 	3	 500 	SH		DEFINED	 500 	 -   	 -
FIRST DATA CORP                         	COM	319963104	 5,099 	1,3	 65,000 	SH		DEFINED	 65,000 	 -   	 -
FLEMING COS INC	COM	339130106	 1,153 	1,3	 62,300 	SH		DEFINED	 62,300 	 -   	 -
FOOT LOCKER INC	COM	344849104	 1,667 	1,.3	 106,500 	SH		DEFINED	 106,500 	 -   	 -
FORTUNE BRANDS INC	COM	349631101	 1,019 	3	 25,750 	SH		DEFINED	 25,750 	 -   	 -
FREEPORT MCMORAN COPPER&GOLD	CL B	35671D857	 1,056 	3	 78,875 	SH		DEFINED	 78,875 	 -   	 -
GABLES RESIDENTIAL TRUST	SH BEN INT	362418105	 409 	3	 13,825 	SH		DEFINED	 13,825 	 -   	 -
THE GAP INC.                            	COM	364760108	 654 	3	 46,950 	SH		DEFINED	 46,950 	 -   	 -
GENENTECH INC	COM NEW	368710406	 2,136 	1,2,3	 39,370 	SH		DEFINED	 39,370 	 -   	 -
GENERAL DYNAMICS CORP.	COM	369550108	 1,991 	1,3	 25,000 	SH		DEFINED	 25,000 	 -   	 -
GENERAL ELECTRIC CO                     	COM	369604103	 5,191 	1,2,3	 129,510 	SH		DEFINED	 129,510 	 -   	 -
GENERAL MOTORS CORP CLASS H             	CL H NEW	370442832	 2,627 	2,3	 170,000 	SH		DEFINED	 170,000 	 -   	 -
GENUITY INC-A	CL A	37248E103	 198 	2,3	 125,000 	SH		DEFINED	 125,000 	 -   	 -
GEORGIA-PACIFIC CORPORATION	COM GA PAC GRP	373298108	 552 	3	 19,975 	SH		DEFINED	 19,975 	 -   	 -
GLIMCHER REALTY TRUST	SH BEN INT	379302102	 207 	3	 10,975 	SH		DEFINED	 10,975 	 -   	 -
GREAT LAKES REIT INC	COM	390752103	 1,040 	2,3	 65,000 	SH		DEFINED	 65,000 	 -   	 -
GUCCI GROUP NV-NY REG SHRS	COM NY REG	401566104	 16,131 	2,3	 190,000 	SH		DEFINED	 190,000 	 -   	 -
HCA INC                                 	COM	404119109	 3,083 	1,3	 80,000 	SH		DEFINED	 80,000 	 -   	 -
HANOVER COMPRESSOR CO	COM	410768105	 897 	1,3	 35,500 	SH		DEFINED	 35,500 	 -   	 -
HANOVER COMPRESS	SR NT CV 4.75%08	410768AC9	 2,243 	1,3	 2,400,000 	PRN		DEFINED	 -   	 -   	 -
HEALTH CARE PPTYS INVEST INC	COM	421915109	 1,195 	2,3	 33,000 	SH		DEFINED	 33,000 	 -   	 -
HEALTHSOUTH CORP.                       	COM	421924101	 9,263 	2,3	 625,000 	SH		DEFINED	 625,000 	 -   	 -
HEALTHSOUTH CORP.                       	SB DB CV 3.35%03	421924AF8	 3,816 	2,3	 4,000,000 	PRN		DEFINED	 -   	 -   	 -
HEALTHCARE REALTY TRUST INC	COM	421946104	 7,019 	2,3	 250,675 	SH		DEFINED	 250,675 	 -   	 -
HEALTH NET INC	COM	42222G108	 1,246 	3	 57,225 	SH		DEFINED	 57,225 	 -   	 -
HEARST-ARGYLE TELEVISION INC	COM	422317107	 5,172 	2,3	 239,900 	SH		DEFINED	 239,900 	 -   	 -
HERBALIFE INTERNATIONAL-CL B	CL B	426908307	 318 	3	 24,100 	SH		DEFINED	 24,100 	 -   	 -
HERCULES INC	COM	427056106	 3,013 	2,3	 301,250 	SH		DEFINED	 301,250 	 -   	 -
HEWLETT-PACKARD CO.                     	COM	428236103	 1,920 	2,3	 93,475 	SH		DEFINED	 93,475 	 -   	 -
HILTON HOTELS CORP	COM	432848109	 5,515 	2,3	 505,000 	SH		DEFINED	 505,000 	 -   	 -
HOME DEPOT                              	COM	437076102	 2,704 	1,3	 53,000 	SH		DEFINED	 53,000 	 -   	 -
HONEYWELL INTERNATIONAL INC	COM	438516106	 2,029 	1,3	 60,000 	SH		DEFINED	 60,000 	 -   	 -
HOUSEHOLD INTL INC	COM	441815107	 4,056 	1,2,3	 70,000 	SH		DEFINED	 70,000 	 -   	 -
IMC GLOBAL INC	COM	449669100	 867 	2,3	 66,700 	SH		DEFINED	 66,700 	 -   	 -
INSWEB CORPORATION	COM	45809K202	 3,752 	2,3	 882,717 	SH		DEFINED	 882,717 	 -   	 -
INTEL CORP	COM	458140100	 2,176 	1,3	 69,200 	SH		DEFINED	 69,200 	 -   	 -
INTERNATIONAL BUSINESS MACHINE          	COM	459200101	 25,450 	1,2,3	 210,400 	SH		DEFINED	 210,400 	 -   	 -
INTERNATIONAL PAPER CO.	COM	460146103	 4,035 	2,3	 100,000 	SH		DEFINED	 100,000 	 -   	 -
INTL RECTIFIER CORP	COM	460254105	 450 	1,3	 12,900 	SH		DEFINED	 12,900 	 -   	 -
INTL RECTIFIER	SB NT CV 144A07	460254AD7	 1,221 	1,3	 1,465,000 	PRN		DEFINED	 -   	 -   	 -
INTERSTATE BAKERIES	COM	46072H108	 195 	3	 8,050 	SH		DEFINED	 8,050 	 -   	 -
IONICS INC	COM	462218108	 1,643 	2,3	 54,700 	SH		DEFINED	 54,700 	 -   	 -
IVAX CORP	COM	465823102	 1,219 	1,3	 60,525 	SH		DEFINED	 60,525 	 -   	 -
IVAX CORP	SR SB NT CV 07	465823AD4	 2,403 	1,3	 2,400,000 	PRN		DEFINED	 -   	 -   	 -
JOHNSON & JOHNSON                       	COM	478160104	 611 	1,2,3	 10,340 	SH		DEFINED	 10,340 	 -   	 -
JOY GLOBAL INC	COM	481165108	 410 	2,3	 24,400 	SH		DEFINED	 24,400 	 -   	 -
KELLWOOD CO	COM	488044108	 155 	3	 6,450 	SH		DEFINED	 6,450 	 -   	 -
KENNAMETAL INC	COM	489170100	 403 	3	 10,000 	SH		DEFINED	 10,000 	 -   	 -
KERR MC GEE CORP	COM	492386107	 7,672 	2,3	 140,000 	SH		DEFINED	 140,000 	 -   	 -
KEY3MEDIA GROUP	COM	49326R104	 39 	3	 7,225 	SH		DEFINED	 7,225 	 -   	 -
KEYSPAN CORPORATION	COM	49337W100	 5,544 	2,3	 160,000 	SH		DEFINED	 160,000 	 -   	 -
KULICKE & SOFFA INDUSTRIES	COM	501242101	 2,067 	1,3	 120,500 	SH		DEFINED	 120,500 	 -   	 -
KULICKE & SOFFA	SUB NTCV5.75%06	501242AE1	 3,312 	1,3	 3,450,000 	PRN		DEFINED	 -   	 -   	 -
LSI CORP                                	COM	502161102	 1,374 	1,3	 87,100 	SH		DEFINED	 87,100 	 -   	 -
LSI LOGIC	SB NT CV 4.25%04	502161AD4	 2,267 	1,3	 1,950,000 	PRN		DEFINED	 -   	 -   	 -
L-3 COMMUNICATIONS CORP	COM	502424104	 3,903 	1,3	 43,370 	SH		DEFINED	 43,370 	 -   	 -
L-3 COMM HLDGS	SR SB CV 144A 09	502424AA2	 3,132 	1,3	 2,400,000 	PRN		DEFINED	 -   	 -   	 -
LABORATORY CRP OF AMER HLDGS	COM NEW	50540R409	 6,444 	1,2,3	 79,700 	SH		DEFINED	 79,700 	 -   	 -
LABORATORY CP	LYONS 144A 21	50540RAB8	 14,963 	1,2,3	 21,000,000 	PRN		DEFINED	 -   	 -   	 -
LAM RESEARCH CORP	COM	512807108	 637 	1,3	 27,430 	SH		DEFINED	 27,430 	 -   	 -
LAMAR ADVERTISING CO	CL A	512815101	 1,516 	1,3	 35,800 	SH		DEFINED	 35,800 	 -   	 -
LAMAR ADVERTISIN	NT CV 5.25%06	512815AF8	 2,824 	1,3	 2,550,000 	PRN		DEFINED	 -   	 -   	 -
LATTICE SEMICONDUCTOR CORP	COM	518415104	 1,827 	1,3	 88,800 	SH		DEFINED	 88,800 	 -   	 -
LATTICE SEMICOND	SUB NT CV4.75%06	518415AC8	 2,966 	1,3	 2,450,000 	PRN		DEFINED	 -   	 -   	 -
LEAR CORPORATION	COM	521865105	 1,017 	3	 26,675 	SH		DEFINED	 26,675 	 -   	 -
LEGG MASON INC	COM	524901105	 5,738 	1,2,3	 114,800 	SH		DEFINED	 114,800 	 -   	 -
LIBERTY MEDIA	COM SER A	530718105	 11,776 	1,2,3	 841,148 	SH		DEFINED	 841,148 	 -   	 -
LIBERTY PROPERTY TRUST	SH BEN INT	531172104	 11,782 	2,3	 394,700 	SH		DEFINED	 394,700 	 -   	 -
LILLY (ELI) & CO.	COM	532457108	 3,526 	1,3	 44,900 	SH		DEFINED	 44,900 	 -   	 -
LINCOLN NATIONAL CORP INDIANA	COM	534187109	 3,886 	2,3	 80,000 	SH		DEFINED	 80,000 	 -   	 -
LOCAL FINANCIAL CORP	COM	539553107	 8,738 	2,3	 624,600 	SH		DEFINED	 624,600 	 -   	 -
LONGVIEW FIBRE CO	COM	543213102	 2,186 	2,3	 185,100 	SH		DEFINED	 185,100 	 -   	 -
LOWES CO INC	COM	548661107	 10,362 	1,2,3	 223,280 	SH		DEFINED	 223,280 	 -   	 -
LUBRIZOL CORP	COM	549271104	 1,102 	3	 31,400 	SH		DEFINED	 31,400 	 -   	 -
LUCENT TECHNOLOGIES	COM	549463107	 11,201 	1,2,3	 1,778,000 	SH		DEFINED	 1,778,000 	 -   	 -
LUCENT TECH	PFD CV 8%144A	549463206	 27,298 	1,2,3	 24,000 	SH		DEFINED	 24,000 	 -   	 -
MBIA INC	COM	55262C100	 1,341 	2,3	 25,000 	SH		DEFINED	 25,000 	 -   	 -
MARRIOTT INTERNATIONAL- CL A	CL A	571903202	 659 	2,3	 16,200 	SH		DEFINED	 16,200 	 -   	 -
MARRIOTT INTL	SRLYON ZRO144A21	571903AA1	 8,341 	2,3	 9,700,000 	PRN		DEFINED	 -   	 -   	 -
MEDICALOGIC/MEDSCAPE INC	COM	584642102	 205 	2,3	 730,900 	SH		DEFINED	 730,900 	 -   	 -
MEDTRONIC INC	COM	585055106	 10,396 	1,2,3	 203,000 	SH		DEFINED	 203,000 	 -   	 -
MEDTRONIC INC	CONV DEB 144A 21	585055AA4	 9,019 	2,3	 8,600,000 	PRN		DEFINED	 -   	 -   	 -
MERRILL LYNCH & CO INC	COM	590188108	 464 	1,2,3	 8,900 	SH		DEFINED	 8,900 	 -   	 -
METLIFE INC	COM	59156R108	 6,843 	2,3	 216,000 	SH		DEFINED	 216,000 	 -   	 -
MICROSOFT CORP	COM	594918104	 4,440 	1,2,3	 67,000 	SH		DEFINED	 67,000 	 -   	 -
MILACRON INC	COM	598709103	 93 	3	 5,875 	SH		DEFINED	 5,875 	 -   	 -
MIRANT CORPORATION	COM	604675108	 256 	1,3	 16,000 	SH		DEFINED	 16,000 	 -   	 -
MOLEX - CLASS A NON-VOTING              	CL A	608554200	 2,353 	1,3	 86,993 	SH		DEFINED
MONSANTO CO	COM	61166W101	 565 	3	 16,725 	SH		DEFINED	 16,725 	 -   	 -
MORGAN ST DEAN WITTER DISCOV	COM NEW	617446448	 29 	2,3	 520 	SH		DEFINED	 520 	 -   	 -
MSDW ASIA PACIFIC FUND	COM	61744U106	 2,066 	2,3	 275,900 	SH		DEFINED	 275,900 	 -   	 -
MORGAN STANLEY INDIA INVEST	COM	61745C105	 459 	2,3	 53,026 	SH		DEFINED	 53,026 	 -   	 -
NRG ENERGY INC	COM	629377102	 775 	2,3	 50,000 	SH		DEFINED	 50,000 	 -   	 -
NABORS INDUSTRIES INC	COM	629568106	 309 	1,3	 9,000 	SH		DEFINED	 9,000 	 -   	 -
NACCO INDS INC CL A	CL A	629579103	 515 	3	 9,075 	SH		DEFINED	 9,075 	 -   	 -
NATIONWIDE FINANCIAL SERV-A	CL A	638612101	 2,073 	2,3	 50,000 	SH		DEFINED	 50,000 	 -   	 -
NEIMAN MARCUS GROUP -CL B	CL B	640204301	 2,934 	2,3	 98,800 	SH		DEFINED	 98,800 	 -   	 -
NEWHALL LAND & FARMING CO-LP	DEPOSITARY REC	651426108	 4,100 	2,3	 138,500 	SH		DEFINED	 138,500 	 -   	 -
NEWMONT MINING CORP	COM	651639106	 3,058 	2,3	 160,000 	SH		DEFINED	 160,000 	 -   	 -
NEWS CORP LTD -SPONS ADR	ADR NEW	652487703	 1,591 	2,3	 50,000 	SH		DEFINED	 50,000 	 -   	 -
NEWS CORP LTD -SPONS ADR PRF	SP ADR PFD	652487802	 11,148 	1,2,3	 421,300 	SH		DEFINED	 421,300 	 -   	 -
NIAGARA MOHAWK HOLDINGS INC	COM	653520106	 1,651 	2,3	 93,100 	SH		DEFINED	 93,100 	 -   	 -
NOKIA CORP -SPON ADR	SPONSORED ADR	654902204	 1,227 	1,3	 50,000 	SH		DEFINED	 50,000 	 -   	 -
NORFOLK SOUTHERN CORP.	COM	655844108	 10,356 	2,3	 565,000 	SH		DEFINED	 565,000 	 -   	 -
NORTH FORK BANCORPORATION	COM	659424105	 3,199 	2,3	 100,000 	SH		DEFINED	 100,000 	 -   	 -
NOVELLUS SYSTEMS INC	COM	670008101	 1,404 	1,2,3	 35,600 	SH		DEFINED	 35,600 	 -   	 -
NVIDIA CORP	COM	67066G104	 2,790 	1,3	 41,700 	SH		DEFINED	 41,700 	 -   	 -
NVIDIA CORP	SB NT CV 4.75%07	67066GAA2	 3,724 	1,3	 2,250,000 	PRN		DEFINED	 -   	 -   	 -
OCEAN ENERGY INC	COM	67481E106	 931 	3	 48,500 	SH		DEFINED	 48,500 	 -   	 -
OLD REPUBLIC INTL CORP	COM	680223104	 7,193 	1,2,3	 256,800 	SH		DEFINED	 256,800 	 -   	 -
OMNICOM GROUP	COM	681919106	 2,350 	1,2,3	 26,300 	SH		DEFINED	 26,300 	 -   	 -
ON COMMAND CORPORATION- CLASS B WTS	WT B EX 100703	682160122	 12 	2,3	 123,130 	SH	CALL	DEFINED
OWENS-ILL INC	PFD CONV .01	690768502	 420 	2,3	 20,500 	SH		DEFINED	 20,500 	 -   	 -
PALL CORP	COM	696429307	 4,090 	2,3	 170,000 	SH		DEFINED	 170,000 	 -   	 -
PATHMARK STORES INC	COM	70322A101	 18,111 	2,3	 734,432 	SH		DEFINED	 734,432 	 -   	 -
PAXSON COMMUNICATIONS	COM	704231109	 1,020 	2,3	 97,600 	SH		DEFINED	 97,600 	 -   	 -
PAYCHEX INC	COM	704326107	 20 	2,3	 560 	SH		DEFINED	 560 	 -   	 -
PAYLESS SHOESOURCE INC	COM	704379106	 1,592 	3	 28,350 	SH		DEFINED	 28,350 	 -   	 -
PEABODY ENERGY CORP	COM	704549104	 2,255 	1,3	 80,000 	SH		DEFINED	 80,000 	 -   	 -
PEPSI BOTTLING GROUP INC	COM	713409100	 4,700 	2,3	 200,000 	SH		DEFINED	 200,000 	 -   	 -
PEPSICO INCORPORATED	COM	713448108	 3,993 	1,3	 82,000 	SH		DEFINED	 82,000 	 -   	 -
PERFORMANCE FOOD GROUP CO	COM	713755106	 2,261 	1,3	 64,300 	SH		DEFINED	 64,300 	 -   	 -
PERFORMANCE FOOD	SUB NT CV 5.5%08	713755AA4	 3,328 	1,3	 2,600,000 	PRN		DEFINED	 -   	 -   	 -
PFIZER INC                              	COM	717081103	 5,300 	1,3	 133,000 	SH		DEFINED	 133,000 	 -   	 -
PHILLIPS PETROLEUM COMPANY	COM	718507106	 7,382 	1,2,3	 122,500 	SH		DEFINED	 122,500 	 -   	 -
PHOENIX COMPANIES INC	COM	71902E109	 2,220 	2,3	 120,000 	SH		DEFINED	 120,000 	 -   	 -
PIONEER STANDARD ELECTRONICS	COM	723877106	 134 	3	 10,525 	SH		DEFINED	 10,525 	 -   	 -
PLACER DOME INC                         	COM	725906101	 1,027 	2,3	 94,130 	SH		DEFINED	 94,130 	 -   	 -
PLUM CREEK TIMBER CO-REIT	COM	729251108	 5,670 	2,3	 200,000 	SH		DEFINED	 200,000 	 -   	 -
POTLATCH CORPORATION	COM	737628107	 2,052 	2,3	 70,000 	SH		DEFINED	 70,000 	 -   	 -
POTOMAC ELECTRIC POWER	COM	737679100	 4,749 	2,3	 210,400 	SH		DEFINED	 210,400 	 -   	 -
PRECISION DRILLING CORP	COM	74022D100	 857 	3	 33,200 	SH		DEFINED	 33,200 	 -   	 -
PRESIDENTIAL LIFE CORP	COM	740884101	 169 	3	 8,225 	SH		DEFINED	 8,225 	 -   	 -
PRIME HOSPITALITY CORP	COM	741917108	 590 	1,2,3	 53,375 	SH		DEFINED	 53,375 	 -   	 -
PROSPECT STREET INCOME SHARES	COM	743590101	 1,531 	2,3	 153,339 	SH		DEFINED	 153,339 	 -   	 -
PROVINCE HEALTHCARE CO	COM	743977100	 1,000 	1,3	 32,400 	SH		DEFINED	 32,400 	 -   	 -
PROVINCE HEALTHC	SB NT CV 4.5%05	743977AC4	 1,910 	1,3	 1,850,000 	PRN		DEFINED	 -   	 -   	 -
PROVIDIAN FINANCIAL CORP	COM	74406A102	 226 	3	 63,600 	SH		DEFINED	 63,600 	 -   	 -
PRUDENTIAL FINANCIAL INC	COM	744320102	 1,338 	2,3	 40,300 	SH		DEFINED	 40,300 	 -   	 -
PULTE CORP	COM	745867101	 7,862 	1,2,3	 176,000 	SH		DEFINED	 176,000 	 -   	 -
QUALCOMM INC	COM	747525103	 2,273 	1,3	 45,000 	SH		DEFINED	 45,000 	 -   	 -
QUANTUM CORP-DLT & STORAGE	COM DSSG	747906204	 996 	3	 101,150 	SH		DEFINED	 101,150 	 -   	 -
QWEST COMMUNICATIONS INTL	COM	749121109	 1,625 	2,3	 115,000 	SH		DEFINED	 115,000 	 -   	 -
R.H. DONNELLEY CORP	COM NEW	74955W307	 497 	3	 17,100 	SH		DEFINED	 17,100 	 -   	 -
RADIAN GROUP INC	COM	750236101	 1,076 	3	 25,050 	SH		DEFINED	 25,050 	 -   	 -
RADIO UNICA COMMUNICATIONS	COM	75040Q106	 7 	2,3	 5,000 	SH		DEFINED	 5,000 	 -   	 -
RAYTHEON COMPANY	COM NEW	755111507	 3,857 	2,3	 118,800 	SH		DEFINED	 118,800 	 -   	 -
REGENERON PHARM	SB NT CV 144A08	75886FAA5	 4,575 	2,3	 4,000,000 	PRN		DEFINED	 -   	 -   	 -
REPUBLIC BANCORP	COM	760282103	 415 	3	 29,955 	SH		DEFINED	 29,955 	 -   	 -
SBC COMMUNICATIONS INC	COM	78387G103	 588 	2,3	 15,000 	SH		DEFINED	 15,000 	 -   	 -
SLI INC	COM	78442T108	 27 	3	 10,175 	SH		DEFINED	 10,175 	 -   	 -
SANMINA-SCI CORP	COM	800907107	 1,320 	1,3	 66,345 	SH		DEFINED	 66,345 	 -   	 -
SANMINA CORP	SB NTCV 4.25%04	800907AB3	 2,695 	1,3	 2,450,000 	PRN		DEFINED	 -   	 -   	 -
SARA LEE CORP	COM	803111103	 912 	3	 41,025 	SH		DEFINED	 41,025 	 -   	 -
SCANA CORP                              	COM	80589M102	 15,724 	2,3	 565,000 	SH		DEFINED	 565,000 	 -   	 -
SCHLUMBERGER LIMITED	COM	806857108	 3,220 	1,3	 58,600 	SH		DEFINED	 58,600 	 -   	 -
SCUDDER INTERMEDIATE GOVT TR	SH BEN INT	811163104	 1,044 	2,3	 149,800 	SH		DEFINED	 149,800 	 -   	 -
SEMTECH CORP	COM	816850101	 1,624 	1,3	 45,500 	SH		DEFINED	 45,500 	 -   	 -
SEMTECH CORP	SB NT CV 4.5%07	816850AD3	 2,592 	1,3	 2,400,000 	PRN		DEFINED	 -   	 -   	 -
SENIOR HOUSING PROP TRUST	SH BEN INT	81721M109	 417 	2,3	 30,000 	SH		DEFINED	 30,000 	 -   	 -
SERVICEMASTER COMPANY	COM	81760N109	 1,038 	3	 75,250 	SH		DEFINED	 75,250 	 -   	 -
SHERWIN WILLIAMS CO	COM	824348106	 932 	3	 33,875 	SH		DEFINED	 33,875 	 -   	 -
SIRIUS SATELLITE RADIO INC	COM	82966U103	 27,373 	2,3	 2,353,672 	SH		DEFINED	 2,353,672 	 -   	 -
SOUTHTRUST CORP	COM	844730101	 378 	3	 15,325 	SH		DEFINED	 15,325 	 -   	 -
SOUTHWEST AIR CO	COM	844741108	 370 	1,3	 20,000 	SH		DEFINED	 20,000 	 -   	 -
SOVEREIGN BANCORP INC	COM	845905108	 3,182 	1,2,3	 260,000 	SH		DEFINED	 260,000 	 -   	 -
SPANISH BROADCASTING SYS CLA	CL A	846425882	 2,421 	2,3	 244,800 	SH		DEFINED	 244,800 	 -   	 -
SPRINT CORP-FON GROUP                   	COM FON GROUP	852061100	 861 	2,3,4	 42,856 	SH		DEFINED	 42,856 	 -   	 -
SPRINT CORP-PCS GROUP	PCS COM SER 1	852061506	 31,575 	1,2,3,4	 1,293,528 	SH		DEFINED	 1,293,528 	 -   	 -
SPRINT CORP(PCS)	EQUITY UNIT	852061605	 37,682 	1,2,3	 1,490,000 	SH		DEFINED	 1,490,000 	 -   	 -
STAR GAS PARTNER-SEN SUB UTS	SR SB UN LTD	85512C204	 676 	2,3	 34,829 	SH		DEFINED	 34,829 	 -   	 -
STEIN MART INC	COM	858375108	 104 	3	 12,475 	SH		DEFINED	 12,475 	 -   	 -
STILWELL FINANCIAL INC	COM	860831106	 514 	1,2,3	 18,900 	SH		DEFINED	 18,900 	 -   	 -
STILWELL FINL	LYON ZERO 31	860831AC0	 16,060 	1,2,3	 22,000,000 	PRN		DEFINED	 -   	 -   	 -
SUN MICROSYSTEMS INC	COM	866810104	 2,044 	1,2,3	 165,650 	SH		DEFINED	 165,650 	 -   	 -
TJX COS. INC.    NEW	COM	872540109	 4,050 	1,2,3	 101,600 	SH		DEFINED	 101,600 	 -   	 -
TVX GOLD INC	COM NEW	87308K200	 211 	2,3	 490,080 	SH		DEFINED	 490,080 	 -   	 -
TARGET CORP	COM	87612E106	 1,642 	1,3	 40,000 	SH		DEFINED	 40,000 	 -   	 -
TECH DATA CORP	SB DEB CV 144A21	878237AB2	 9,775 	1,2,3	 10,000,000 	PRN		DEFINED	 -   	 -   	 -
TEJON RANCH	COM	879080109	 892 	2,3	 37,300 	SH		DEFINED	 37,300 	 -   	 -
TELLABS INC	COM	879664100	 798 	3	 53,375 	SH		DEFINED	 53,375 	 -   	 -
TENET HEALTHCARE CORP	COM	88033G100	 411 	1,3	 7,000 	SH		DEFINED	 7,000 	 -   	 -
TEXTRON INC	COM	883203101	 3,939 	2,3	 95,000 	SH		DEFINED	 95,000 	 -   	 -
TORCH OFFSHORE INC	COM	891019101	 180 	2,3	 30,000 	SH		DEFINED	 30,000 	 -   	 -
TRIBUNE CO NEW	COM	896047107	 5,240 	1,2,3	 140,000 	SH		DEFINED	 140,000 	 -   	 -
TRINITY INDUSTRIES                      	COM	896522109	 401 	3	 14,775 	SH		DEFINED	 14,775 	 -   	 -
TRIZEC HAHN CORPORATION	SUB VTG	896938107	 5,502 	2,3	 350,425 	SH		DEFINED	 350,425 	 -   	 -
TYCO INTERNATIONAL LTD	COM	902124106	 26,470 	1,2,3	 449,400 	SH		DEFINED	 449,400 	 -   	 -
TYCO INTL LTD	LYON ZERO 20	902124AC0	 44,790 	2,3	 57,700,000 	PRN		DEFINED	 -   	 -   	 -
TYSON FOODS INC-CL A	CL A	902494103	 27 	3	 2,366 	SH		DEFINED	 2,366 	 -   	 -
UCAR INTERNATIONAL INC	COM	90262K109	 56 	3	 5,275 	SH		DEFINED	 5,275 	 -   	 -
US BANCORP	COM NEW	902973304	 3,977 	2,3	 190,000 	SH		DEFINED	 190,000 	 -   	 -
UNION PACIFIC                           	COM	907818108	 1,398 	3	 24,525 	SH		DEFINED	 24,525 	 -   	 -
UNISYS CORP	COM	909214108	 1,254 	2,3	 100,000 	SH		DEFINED	 100,000 	 -   	 -
UNITED DEFENSE INDS INC	COM	91018B104	 316 	1,3	 15,000 	SH		DEFINED	 15,000 	 -   	 -
UNITED PARCEL SERVICE -CL B	CL B	911312106	 518 	1,3	 9,500 	SH		DEFINED	 9,500 	 -   	 -
UNIVERSAL CORP-VA	COM	913456109	 507 	3	 13,925 	SH		DEFINED	 13,925 	 -   	 -
USFREIGHTWAYS CORPORATION	COM	916906100	 400 	3	 12,725 	SH		DEFINED	 12,725 	 -   	 -
VALERO ENERGY CORP	COM	91913Y100	 10,102 	2,3	 265,000 	SH		DEFINED	 265,000 	 -   	 -
VENTAS INC	COM	92276F100	 2,332 	2,3	 202,750 	SH		DEFINED	 202,750 	 -   	 -
VERIZON COMMUNICATIONS INC.	COM	92343V104	 7,356 	1,2,3	 155,000 	SH		DEFINED	 155,000 	 -   	 -
VISHAY INTERTECHNOLOGY INC	COM	928298108	 438 	1,3	 22,463 	SH		DEFINED	 22,463 	 -   	 -
WACKENHUT CORP-CL B	COM SER B	929794303	 714 	2,3	 37,500 	SH		DEFINED	 37,500 	 -   	 -
WACHOVIA CORP	COM	929903102	 1,254 	2,3	 40,000 	SH		DEFINED	 40,000 	 -   	 -
WAL MART STORES INC	COM	931142103	 3,712 	1,3	 64,500 	SH		DEFINED	 64,500 	 -   	 -
WELLS FARGO & COMPANY	COM	949746101	 4,345 	1,3	 100,000 	SH		DEFINED	 100,000 	 -   	 -
WESTERN RESOURCES INC	COM	959425109	 2,752 	2,3	 160,000 	SH		DEFINED	 160,000 	 -   	 -
WHIRLPOOL CORPORATION	COM	963320106	 764 	3	 10,425 	SH		DEFINED	 10,425 	 -   	 -
WILLIAMS COS INC	COM	969457100	 59 	3,4	 2,312 	SH		DEFINED	 2,312 	 -   	 -
WORLDCOM INC-MCI GROUP	MCI GRP COM	98157D304	 254 	1,3	 20,000 	SH		DEFINED	 20,000 	 -   	 -
XEROX CORP                              	COM	984121103	 7,711 	1,2,3	 740,000 	SH		DEFINED	 740,000 	 -   	 -
YOUNG BROADCASTING INC-A	CL A	987434107	 1,605 	2,3	 89,400 	SH		DEFINED	 89,400 	 -   	 -
ACCENTURE LTD-CL A	CL A	G1150G111	 3,798 	2,3	 141,100 	SH		DEFINED	 141,100 	 -   	 -
FRONTLINE LTD.	ORD	G3682E127	 2,575 	2,3	 250,000 	SH		DEFINED	 250,000 	 -   	 -
IPC HOLDINGS LTD	ORD	G4933P101	 85 	2,3	 2,875 	SH		DEFINED	 2,875 	 -   	 -
LORAL SPACE & COMMUNICATIONS	COM	G56462107	 566 	2,3	 189,400 	SH		DEFINED	 189,400 	 -   	 -
TRANSOCEON SEDCO FOREX INC	ORD	G90078109	 1,881 	1,3	 55,606 	SH		DEFINED	 55,606 	 -   	 -
TRENWICK GROUP LTD	COM	G9032C109	 37,704 	2,3	 3,707,400 	SH		DEFINED	 3,707,400 	 -   	 -
XL CAPITAL LTD-CLASS A	CL A	G98255105	 594 	3	 6,500 	SH		DEFINED	 6,500 	 -   	 -
TEEKAY SHIPPING CORP	COM	Y8564W103	 7,684 	2,3	 220,500 	SH		DEFINED	 220,500 	 -   	 -
</Table>