FORM 13F COVER PAGE

Report for the Calendar Year or Quarter Ended: December 31, 1999

Check here if Amendment [ x ]; Amendment Number:1
This Amendment (Check only one.):  [ x ] is a restatement.
                                   [   ] adds new holdings entries.

Institutional Investment Manager Filing this Report:

Name:    CNA Financial Corporation
Address: CNA Plaza
         Chicago,IL 60685


13F File Number:  28-346

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


Person Signing this Report on Behalf of Reporting Manager:

Name: Lynne Gugenheim
Title:  Senior Vice President and Deputy General Counsel
Phone: (312) 822 4921
Signature, Place, and Date of Signing:
November 12, 2002
Chicago, Illinois,  60685

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

Report Type (Check only one.):

 [  X ]              13F HOLDINGS REPORT.

 [    ]              13F NOTICE.

 [    ]              13F COMBINATION REPORT.

List of Other Managers Reporting for this Manager:

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

FORM 13F SUMMARY PAGE

Report Summary:

Number of Other Included Managers: 4

Form 13F Information Table Entry Total: 254

Form 13F Information Table Value Total: 3,180,189  (in thousands)



List of Other Included Managers:

No.     13F File Number  Name

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

<Table><S><C>
                                             13F INFORMATION TABLE
                              CLASS                  VALUE     OTHER                 PUT/  INVSTMT    VOTING AUTHORITY
NAME OF ISSUER                TITLE       CUSIP     (X1000)    MGRS     AMOUNT  TYPE CALL  DSCRETN    SOLE     SH  NONE
ACME COMMUNICATIONS INC          COM     004631107   22,430     4,2    674,595   SH        DEFINED   674,595
ACNIELSEN CORP                   COM     004833109     369       2      15,000   SH        DEFINED   15,000
ACX TECHNOLOGIES                 COM     005123104      0       2,1       2      SH        DEFINED      2
ADVANTICA RESTAURANT GRP         COM     00758B109    6,785     4,2   3,877,287  SH        DEFINED  3,877,287
AES CORP                     JR SBDB CV  00130HAN5    7,828     3,2   5,330,000  PRN       DEFINED
AFFIL COMPUTER                SB NT CV   008190AD2    5,673     3,2   4,720,000  PRN       DEFINED
AGNICO-EAGLE MINES LTD           COM     008474108    2,715     4,2    365,000    SH       DEFINED   365,000
AGRIUM INC                       COM     008916108     42       2,1     5,400     SH       DEFINED    5,400
ALEXANDRIA REAL EST EQUITIES     COM     015271109     127      4,2     4,000     SH       DEFINED    4,000
ALLIANCE FOREST PRODUCTS         COM     01859J108     18       2,1     1,500     SH       DEFINED    1,500
ALLIN COMMUNICATIONS CORP        COM     019924109    1,700     4,2    340,000    SH       DEFINED   340,000
ALLTEL CORP                      COM     020039103    8,298    4,2,1   100,352    SH       DEFINED   100,352
ALPHARMA INC                 SB  NT  CV  020813AB7    6,290     3,2   5,280,000  PRN       DEFINED
ALTIVA FINANCIAL CORP           COM      021497300     30       4,2     32,000    SH       DEFINED   32,000
ALZA CORP                        COM     022615108    1,073     4,2     31,000    SH       DEFINED   31,000
AMERICA ONLINE INC               COM     02364J104    3,018     3,2     40,000    SH       DEFINED   40,000
AMERICA WEST HOLDINGS           CL B     023657208     442      3,2     21,278    SH       DEFINED   21,278
AMERICAN BUSINESS FINL SVCS      COM     02476B106     294      4,2     25,042    SH       DEFINED   25,042
AMERICAN CAPITAL STRATEGIES      COM     024937104    3,697     4,2    162,500    SH       DEFINED   162,500
AMERICAN EXPRESS                 COM     025816109    4,156     3,2     25,000    SH       DEFINED   25,000
AMERICAN INTL GROUP INC          COM     026874107    1,622    4,2,1    15,002    SH       DEFINED   15,002
AMERICAN TOWER                 NT CV     029912AA0    7,833     3,2   5,600,000  PRN       DEFINED
AMGEN INC                        COM     031162100    4,445    3,2,1    74,000    SH       DEFINED   74,000
AMR  CORP                        COM     001765106    2,345     4,2     35,000    SH       DEFINED   35,000
ANHEUSER BUSCH CO                COM     035229103    3,551    3,4,2    50,100    SH       DEFINED   50,100
ANTEC CORP                    SB NT CV   03664PAA3    3,893     4,2   2,250,000  PRN       DEFINED
APPLIED MATERIALS INC.           COM     038222105    8,754    3,2,1    69,100    SH       DEFINED   69,100
ARCHER DANIELS                   COM     039483102    4,790      2     395,078    SH       DEFINED   395,078
ARGUSS HOLDINGS INC              COM     040282105    4,744     4,2    364,912    SH       DEFINED   364,912
ASHANTI GOLDFIELDS               GDR     043743202    1,260     4,2    480,000    SH       DEFINED   480,000
AT & T CORPORATION               COM     001957109   12,891    3,4,2   254,000    SH       DEFINED   254,000
AUTOTOTE CORP                   CL A     053323101    1,626     4,2    500,403    SH       DEFINED   500,403
AVIRON                        SB NT CV   053762AC4     212       2     250,000   PRN       DEFINED
BANGOR HYDRO-ELECTRIC CO         COM     060077104     110      4,2     6,700     SH       DEFINED    6,700
BANK UNITED CORP                CL A     065412108    1,908     3,2     70,000    SH       DEFINED   70,000
BARRICK GOLD CORP                COM     067901108     27       2,1     1,500     SH       DEFINED    1,500
BAYCORP HOLDINGS LTD             COM     072728108    6,469    3,4,2   667,842    SH       DEFINED   667,842
BCE INC.                         COM     05534B109     234      2,1     2,600     SH       DEFINED    2,600
BEVERLY ENTERPRISES INC         COM      087851309    3,653     4,2    834,900    SH       DEFINED   834,900
BIOGEN INC                       COM     090597105    1,115     2,1     13,200    SH       DEFINED   13,200
BUCKHEAD AMERICA CORP            COM     11835A105     120      4,2     21,579    SH       DEFINED   21,579
BUILDING ONE SERVICES CORP       COM     120114103     516      4,2     54,718    SH       DEFINED   54,718
BURLINGTON RESOURCES INC         COM     122014103    1,818     4,2     55,000    SH       DEFINED   55,000
CABOT INDUSTRIAL TRUST           COM     127072106     257      4,2     14,000    SH       DEFINED   14,000
CANADIAN IMPERIAL BANK COMM      COM     136069101     85       2,1     3,600     SH       DEFINED    3,600
CANADIAN NATL RAILWAY CO         COM     136375102      6       3,2      224      SH       DEFINED     224
CANADIAN OCCIDENTAL PETE         COM     136420106     43       2,1     2,200     SH       DEFINED    2,200
CAPITAL ONE FINANCIAL CORP       COM     14040H105     241      4,2     5,000     SH       DEFINED    5,000
CARDINAL HEALTH  INC.            COM     14149Y108    3,333     3,2     69,625    SH       DEFINED   69,625
CARNIVAL CORP                    COM     143658102    2,343     3,2     49,000    SH       DEFINED   49,000
CATELLUS DEVELOPMENT CORP        COM     149111106    1,380     4,2    107,724    SH       DEFINED   107,724
CH ENERGY GROUP INC.             COM     12541M102    1,073     4,2     32,500    SH       DEFINED   32,500
CHARTER COMMUNICATIONS INC-A    CL A     16117M107    2,188     4,2    100,000    SH       DEFINED   100,000
CHECKPOINT SYS                  SDBCV    162825AA1    2,723     3,2   3,730,000  PRN       DEFINED
CISCO SYSTEMS INC                COM     17275R102   13,991    3,2,1   130,600    SH       DEFINED   130,600
CITIGROUP INC                    COM     172967101    4,501     3,2     81,000    SH       DEFINED   81,000
CNA INCOME SHARES INC            COM     126119106     871      4,2    122,198    SH       DEFINED   122,198
CNA SURETY CORPORATION           COM     12612L108   352,253   4,2,1  27,096,347  SH       DEFINED 27,096,347
COCA COLA CO                     COM     191216100     355      2,1     6,100     SH       DEFINED    6,100
COLUMBIA HCA HEALTHCARE          COM     197677107    2,931     4,2    100,000    SH       DEFINED   100,000
COMCAST CORP                  CL A SPL   200300200   11,124    3,4,2   220,000    SH       DEFINED   220,000
COMMUNICATION INTELLIGENCE       COM     20338K106    6,188     4,2    750,000    SH       DEFINED   750,000
CONECTIV INC                     COM     206829103     883      4,2     52,500    SH       DEFINED   52,500
COX COMMUNICATIONS INC          CL A     224044107     721      2,1     14,000    SH       DEFINED   14,000
CREDENCE SYSTEMS               NT CV     225302AC2    3,768     3,2   2,750,000  PRN       DEFINED
CREDENCE SYSTEMS CORP            COM     225302108     519       2      6,000     SH       DEFINED    6,000
CRESCENT REAL ESTATE EQT CO      COM     225756105    2,664     4,2    145,000    SH       DEFINED   145,000
CROWN RESOURCE CORP              COM     228569109     940      4,2    501,400    SH       DEFINED   501,400
CYPRESS SEMICON              SUB NT CONV 232806AD1    7,245     3,2   4,950,000  PRN       DEFINED
DELL COMPUTER CORP               COM     247025109    2,055     2,1     40,300    SH       DEFINED   40,300
DELTA AIR INC                    COM     247361108    1,245     4,2     25,000    SH       DEFINED   25,000
DONALDSON LUFKIN & JENRETTE      COM     257661108     726      4,2     15,000    SH       DEFINED   15,000
EASTERN UTILITIES ASSOC          COM     277173100    3,486     4,2    115,000    SH       DEFINED   115,000
EAST-WEST BANCORP INC.           COM     27579R104   22,874     4,2   2,000,000   SH       DEFINED  2,000,000
ECOLAB INC                       COM     278865100     47        2      1,200     SH       DEFINED    1,200
EMC CORP                     SUB NT CONV 268648AE2    2,620     4,2   2,000,000  PRN       DEFINED
EMC CORPORATION                  COM     268648102    6,555     3,2     60,000    SH       DEFINED   60,000
ENGEL GENERAL DEVELOPERS         ORD     M40515104     360      4,2    120,000    SH       DEFINED   120,000
ENRON CORP                       COM     293561106    6,213     3,2    140,000    SH       DEFINED   140,000
EQUANT NV                    NY REG SHS  294409107    3,360     3,2     30,000    SH       DEFINED   30,000
EQUITY OFFICE PROPERTIES TR   PFD CV B   294741509    7,293     4,2    187,000    SH       DEFINED   187,000
ESTEE LAUDER COMPANIES          CL A     518439104     50       4,2     1,000     SH       DEFINED    1,000
EXIGENT INTERNATIONAL INC        COM     302056106      0       3,2      125      SH       DEFINED     125
EXIGENT INTERNATIONAL INC      WT EXP    302056114      0       3,2      200      SH  CALL DEFINED
FIRST ALLIANCE CORP              COM     317936102     492      4,2    262,500    SH       DEFINED   262,500
FIRST DATA CORP                  COM     319963104    3,698     3,2     75,000    SH       DEFINED   75,000
FOX ENTERTAINMENT GRP INC       CL A     35138T107    2,494     4,2    100,000    SH       DEFINED   100,000
FRIEDMAN BILLINGS RAMSEY        CL A     358433100     402      4,2     51,000    SH       DEFINED   51,000
GENENTECH INC                SUB DEB CV  368710AA7    6,878     4,2   7,165,000  PRN       DEFINED
GENERAL COMMUNICATION           CL A     369385109     35       3,2     7,913     SH       DEFINED    7,913
GENERAL ELECTRIC CO              COM     369604103    6,654     3,2     43,000    SH       DEFINED   43,000
GENZYME CORP                  SB NT CV   372917AF1    3,456      2    2,700,000  PRN       DEFINED
GILLETTE CO.                     COM     375766102    3,892    3,2,1    94,500    SH       DEFINED   94,500
GLAMIS GOLD LTD                  COM     376775102    2,538     4,2   1,400,640   SH       DEFINED  1,400,640
GLENBOROUGH REALTY TRUST         COM     37803P105     334      4,2     25,000    SH       DEFINED   25,000
GLOBAL CROSSING LTD              COM     G3921A100  1,822,137   4,2   36,442,735  SH       DEFINED 36,442,735
GOLD RESERVE INC                CL A     38068N108    1,045     4,2   1,114,950   SH       DEFINED  1,114,950
GOLD STANDARD INC               COM      380724302     104      4,2     82,813    SH       DEFINED   82,813
GOLDCORP INC                 CL A SUB VT 380956102    2,155     4,2    375,000    SH       DEFINED   375,000
GOLDEN STATE BANCORP             COM     381197102    2,382     4,2    138,100    SH       DEFINED   138,100
GOLDMAN SACHS GROUP INC          COM     38141G104     94       2,1     1,000     SH       DEFINED    1,000
GREENPOINT FINANCIAL CORP        COM     395384100    1,219     4,2     51,200    SH       DEFINED   51,200
HAYES LEMMERZ INTL INC COM       COM     420781106    4,961     4,2    284,500    SH       DEFINED   284,500
HEALTHCARE REALTY TRUST          COM     421946104    4,555     4,2    291,500    SH       DEFINED   291,500
HEALTHSOUTH CORP.                COM     421924101    3,763     4,2    700,000    SH       DEFINED   700,000
HEWLET-PACKARD               SB LYON ZR  428236AC7   41,669     4,2   60,500,000 PRN       DEFINED
HEWLETT-PACK FIN              SB LYONZR  428236AA1   10,181     4,2   15,000,000 PRN       DEFINED
HOME DEPOT                       COM     437076102    2,207     2,1     32,100    SH       DEFINED   32,100
HOMESTAKE MINING CO              COM     437614100    1,419     4,2    181,639    SH       DEFINED   181,639
HOMETOWN  BUFFET              SUBNTCONV  437862AA3     166      3,2    165,000   PRN       DEFINED
HORIZON GROUP PROPERTIES         COM     44041U102      2       4,2      630      SH       DEFINED     630
HUMANA INC.                      COM     444859102    1,433     4,2    175,000    SH       DEFINED   175,000
IDACORP INC                      COM     451107106    1,341     4,2     50,000    SH       DEFINED   50,000
ILLINOIS TOOL WORKS INC          COM     452308109    3,500     3,2     51,800    SH       DEFINED   51,800
IMPERIAL CREDIT COMMERCIAL       COM     45272T102    1,706     4,2    150,000    SH       DEFINED   150,000
IMPERIAL OIL LTD-CO. PERTOLIN   COM      453038408     70       2,1     3,300     SH       DEFINED    3,300
INCO LTD                         COM     453258402     31       2,1     1,300     SH       DEFINED    1,300
INFINITY BROADCASTING CORP      CL A     45662S102    2,750     3,2     76,000    SH       DEFINED   76,000
INSWEB CORPORATION               COM     45809K103   57,360     4,2   2,243,967   SH       DEFINED  2,243,967
INTEL CORP                       COM     458140100    5,433    3,2,1    66,000    SH       DEFINED   66,000
INTERMEDIA COMMUNICATIONS        COM     458801107    4,192     3,2    108,000    SH       DEFINED   108,000
INTL BUSINESS MACHINE            COM     459200101    6,577    3,4,2    60,900    SH       DEFINED   60,900
INTERSTATE BAKERIES              COM     46072H108    2,266     4,2    125,000    SH       DEFINED   125,000
JPS INDUSTRIES INC               COM     46624E405    1,415     4,2    419,243    SH       DEFINED   419,243
KANSAS CITY SOUTHERN INDS        COM     485170104    1,895     2,1     25,400    SH       DEFINED   25,400
KEMPER INTERMEDIATE GOVT TR  SH BEN INT  488413105     964      4,2    149,800    SH       DEFINED   149,800
KEYSPAN CORPORATION              COM     49337W100    9,086     4,2    391,860    SH       DEFINED   391,860
KEYSTONE FINANCIAL INC           COM     493482103     21       2,1     1,013     SH       DEFINED    1,013
KROGER COMPANY                   COM     501044101    5,383    3,4,2   285,200    SH       DEFINED   285,200
L-3 COMMUNICATIONS CORP          COM     502424104    1,819     3,2     43,700    SH       DEFINED   43,700
LAIDLAW INC                      COM     50730K503     16        2      3,000     SH       DEFINED    3,000
LASALLE RE HOLDINGS              ORD     G5383Q101   23,518     4,2   1,425,354   SH       DEFINED  1,425,354
LIBERTY MEDIA                   COM      001957208   15,948     3,2    281,024    SH       DEFINED   281,024
LIBERTY PROPERTY TRUST       SH BRN INT  531172104    1,156     4,2     46,700    SH       DEFINED   46,700
LILLY (ELI) & CO.                COM     532457108    2,514     3,2     37,800    SH       DEFINED   37,800
LORAL SPACE & COMM               COM     G56462107    3,926     3,2    161,500    SH       DEFINED   161,500
LUCENT TECHNOLOGIES              COM     549463107     743      2,1     9,900     SH       DEFINED    9,900
MACK-CALI REALTY CORP            COM     554489104     261      4,2     10,000    SH       DEFINED   10,000
MAXIM INTEGRATED PRODUCTS        COM     57772K101    1,472     2,1     31,200    SH       DEFINED   31,200
MCI WORLDCOM INC.                COM     55268B106    3,184     3,2     60,000    SH       DEFINED   60,000
MCKESSON HBOC INC                COM     58155Q103    6,750     4,2    300,000    SH       DEFINED   300,000
MCLEODUSA INC-CL A               COM     582266102     648       2      11,000    SH       DEFINED   11,000
MEDIAONE GROUP, INC              COM     58440J104   10,532    4,2,1   137,117    SH       DEFINED   137,117
MEDTRONIC INC                    COM     585055106    4,970    3,2,1   136,400    SH       DEFINED   136,400
MELLON FINANCIAL CORP            COM     58551A108     443       2      13,000    SH       DEFINED   13,000
MERIDIAN GOLD INC                COM     589975101    2,475     4,2    365,000    SH       DEFINED   365,000
MGIC AETNA INC.                  COM     008117103   35,441     4,2    635,000    SH       DEFINED   635,000
MGIC GPU INC.                    COM     36225X100    1,041     4,2     35,000    SH       DEFINED   35,000
MICROCELL TELECOMM           CL B NON VT 59501T304    1,583     4,2     48,147    SH       DEFINED   48,147
MICROSOFT CORP                   COM     594918104    5,639    3,2,1    48,300    SH       DEFINED   48,300
MIRAGE RESORTS INC               COM     60462E104     749      2,1     49,500    SH       DEFINED   49,500
MOLEX                           CL A     608554200    3,511     3,2     77,595    SH       DEFINED   77,595
MONSANTO CO                   ADJ CONVR  611662305     166       2      5,000     SH       DEFINED    5,000
MONSANTO CO                      COM     611662107    2,850     3,2     80,000    SH       DEFINED   80,000
MORRISON KNUDSEN CORP          WT EXP    61844A117      0       2,1       35      SH  CALL DEFINED
MOTOROLA INC                     COM     620076109    5,743     3,2     39,000    SH       DEFINED   39,000
MSDW ASIA PACIFIC FUND           COM     61744U106    2,243     4,2    189,900    SH       DEFINED   189,900
MSDW INDIA INVESTMENT FUND       COM     61745C105    2,102     4,2    127,400    SH       DEFINED   127,400
NACCO INDS INC CL A             CL A     629579103     950      4,2     17,100    SH       DEFINED   17,100
NATL DATA CORP               SUB NT CONV 635621AA3    4,323     3,2   4,750,000  PRN       DEFINED
NETOPIA INC                      COM     64114K104     867      2,1     15,957    SH       DEFINED   15,957
NIAGARA MOHAWK HOLDINGS INC      COM     653520106    3,299     4,2    236,700    SH       DEFINED   236,700
NORFOLK SOUTHERN CORP.           COM     655844108    1,722     4,2     84,000    SH       DEFINED   84,000
NORTH FORK BANCORPORATION        COM     659424105    2,211     4,2    127,250    SH       DEFINED   127,250
NOVA CHEMICALS CORP              COM     66977W109     14       2,1      718      SH       DEFINED     718
OGE ENERGY CORP                  COM     670837103    1,222     4,2     64,300    SH       DEFINED   64,300
ON COMMAND CORPORATION           COM     682160106    6,521     4,2    352,480    SH       DEFINED   352,480
ON COMMAND CORPORATION        WT B EX    682160122     754      4,2    123,130    SH  CALL DEFINED
ORBITAL SCIENCES              SB NT CV   685564AC0     358      3,2    420,000   PRN       DEFINED
OWENS-ILL INC                 PFD CONV   690768502    3,084     4,2     98,700    SH       DEFINED   98,700
OWENS-ILLINOIS INC              COM      690768403    2,967     4,2    118,400    SH       DEFINED   118,400
PACTIV CORPORATION               COM     695257105    2,019     4,2    190,000    SH       DEFINED   190,000
PAYCHEX INC                      COM     704326107     814      2,1     20,350    SH       DEFINED   20,350
PENNEY (J.C.) CO.  INC.          COM     708160106    1,396     4,2     70,000    SH       DEFINED   70,000
PEPSI BOTTLING GROUP INC         COM     713409100    7,619     4,2    460,000    SH       DEFINED   460,000
PEPSICO INCORPORATED             COM     713448108    3,490     3,2     99,000    SH       DEFINED   99,000
PFIZER INC                       COM     717081103    5,135    3,2,1   158,300    SH       DEFINED   158,300
PHILIP MORRIS COMPANIES INC      COM     718154107    3,450     4,2    150,000    SH       DEFINED   150,000
PITNEY-BOWES  INC                COM     724479100    1,981     3,2     41,000    SH       DEFINED   41,000
PLACER DOME INC                  COM     725906101    4,375    4,2,1   406,952    SH       DEFINED   406,952
POLICY MANAGEMENT SYSTEMS COE    COM     731108106   38,829     4,2   1,519,024   SH       DEFINED  1,519,024
POTASH CORP OF SASKATCHEWAN      COM     73755L107    4,236     4,2     87,900    SH       DEFINED   87,900
POTOMAC ELECTRIC POWER           COM     737679100   19,519     4.2    851,000    SH       DEFINED   851,000
PREMIER PARKS                   COM      740540208     315       2      10,900    SH       DEFINED   10,900
PRENTISS PROPERTIES TRUST    SH BEN INT  740706106     86       4,2     4,000     SH       DEFINED    4,000
PRICE (T. ROWE) ASSOCIATES       COM     741477103     646      2,1     17,500    SH       DEFINED   17,500
PRIME HOSPITALITY CORP           COM     741917108     56       4,2     6,375     SH       DEFINED    6,375
PRIME RETAIL INC                 COM     741570105     71       4,2     12,600    SH       DEFINED   12,600
PRISON REALTY TRUST INC          COM     74264N105    2,169     4,2    428,400    SH       DEFINED   428,400
PROCTER & GAMBLE CO              COM     742718109    6,398    3,2,1    58,400    SH       DEFINED   58,400
PROGRESSIVE CORP                 COM     743315103    1,009     2,1     13,800    SH       DEFINED   13,800
PROVIDIAN FINANCIAL CORP         COM     74406A102     801      2,1     8,800     SH       DEFINED    8,800
PSINET INC                       COM     74437C101    2,624     3,2     42,500    SH       DEFINED   42,500
PUBLIC SERVICE CO OF N MEX       COM     744499104    1,430     4,2     88,000    SH       DEFINED   88,000
RADIO ONE INC                   CL A     75040P108     956     4,2,1    10,391    SH       DEFINED   10,391
REYNOLDS METALS CO               COM     761763101    7,364     4,2     96,100    SH       DEFINED   96,100
RGS ENERGY GROUP INC             COM     74956K104    1,594     4,2     77,500    SH       DEFINED   77,500
ROCKWELL INTL CORP               COM     773903109    2,901     4,2     60,600    SH       DEFINED   60,600
SAFEWAY INC                     COM      786514208    3,862   3,4,2,1  108,600    SH       DEFINED   108,600
SANMINA CORP                  SB DB CV   800907AA5    1,489     3,2   1,130,000  PRN       DEFINED
SANMINA CORP                  SUB NTCV   800907AB3    4,901     3,2   3,720,000  PRN       DEFINED
SCANA CORP                       COM     805898103   14,513     4,2    540,000    SH       DEFINED   540,000
SCHERING PLOUGH                  COM     806605101    5,273     3,2    125,000    SH       DEFINED   125,000
SCHLUMBERGER LIMITED             COM     806857108    4,196     3,2     74,600    SH       DEFINED   74,600
SCHWAB(CHARLES) CORP             COM     808513105    1,186     2,1     31,000    SH       DEFINED   31,000
SEACOR HOLDINGS                SUBNTCV   811904AE1     241       2     250,000   PRN       DEFINED
SEAGATE TECHNOLOGY INC.          COM     811804103    4,610     4,2     99,000    SH       DEFINED   99,000
SEPRACOR INC                  SB DB CV   817315AF1    5,544     3,2   5,200,000  PRN       DEFINED
SFX ENTERTAINMENT INC           CL A     784178105     36       4,2     1,000     SH       DEFINED    1,000
SIEBEL SYSTEMS INC               COM     826170102    2,050     2,1     24,400    SH       DEFINED   24,400
SIERRA PACIFIC RESOURCES         COM     826428104     999      4,2     57,500    SH       DEFINED   57,500
SMITH CHARLES E RESIDENTIAL      COM     832197107     265      4,2     7,500     SH       DEFINED    7,500
SOLUTIA INC                      COM     834376105     309       2      20,000    SH       DEFINED   20,000
SPANISH BROADCASTING SYS        CL A     846425882     403      4,2     10,000    SH       DEFINED   10,000
SPEEDWAY MOTORSP              SB DB CV   847788AC0    4,948     3,2   4,781,000  PRN       DEFINED
SPLITROCK SERVICES INC           COM     848636304    1,538     4,2     77,364    SH       DEFINED   77,364
SPRINT CORP                     COM      852061100    6,318    3,2,1    93,856    SH       DEFINED   93,856
SPRINT CORP (PCS GROUP)       COM SER 1  852061506     73       2,1      714      SH       DEFINED     714
ST. LAURENT PAPERBOARD           COM     790907109     25       2,1     1,900     SH       DEFINED    1,900
STAR GAS PARTNER-SEN SUB UTS  SR SUB UN  85512C204     215      4,2     42,434    SH       DEFINED   42,434
STMICROELECTRON               SB LYONZR  861012AB8   44,864    3,4,2  35,050,000 PRN       DEFINED
STORAGE TECHNOLOGY              COM      862111200     51       3,2     2,754     SH       DEFINED    2,754
SUN MICROSYSTEMS INC             COM     866810104    5,188     3,2     67,000    SH       DEFINED   67,000
SUNBEAM CORP                  SRSDCV ZR  867071AA0   14,914     4,2   97,000,000 PRN       DEFINED
TANDY CORP                       COM     875382103    3,197     3,2     65,000    SH       DEFINED   65,000
TECNOMATIX TECHNOLOGIES          ORD     M8743P105     29       4,2     1,000     SH       DEFINED    1,000
TELLABS INC                      COM     879664100    4,878     3,2     76,000    SH       DEFINED   76,000
TEXAS INSTRUMENTS INC            COM     882508104    5,909     3,2     61,000    SH       DEFINED   61,000
THOUSAND TRAILS, INC             COM     885502104     798      4,2    159,660    SH       DEFINED   159,660
TIME WARNER INC                  COM     887315109    8,005    4,2,1   110,700    SH       DEFINED   110,700
TORONTO DOMINION BK             COM      891160509     139      2,1     5,200     SH       DEFINED    5,200
TOWER AUTOMOTIVE              SB NT CV   891707AE1    4,732     3,2   5,600,000  PRN       DEFINED
TRANSCANADA PIPELINES LTD.       COM     893526103     31       2,1     3,592     SH       DEFINED    3,592
TRIBUNE CO NEW                   COM     896047107    5,451    3,4,2    99,000    SH       DEFINED   99,000
TYCO INTERNATIONAL LTD           COM     902124106    4,276     3,2    110,000    SH       DEFINED   110,000
UGLY DUCKLING CORP               COM     903512101     344      4,2     50,000    SH       DEFINED   50,000
UNITED TECHNOLOGIES CORP.        COM     913017109    3,016     3,2     46,400    SH       DEFINED   46,400
UNOCAL CORP                      COM     915289102    2,651     4,2     79,000    SH       DEFINED   79,000
US AIR GROUP INC                 COM     911905107    2,323     4,2     72,462    SH       DEFINED   72,462
US WEST INC                      COM     91273H101     21       2,1      293      SH       DEFINED     293
USEC INC                         COM     90333E108    2,867     4,2    409,500    SH       DEFINED   409,500
UST INC                          COM     902911106   12,594     4,2    500,000    SH       DEFINED   500,000
WAL MART STORES INC              COM     931142103    3,767     3,2     54,500    SH       DEFINED   54,500
WARNER LAMBERT CO                COM     934488107     926     4,2,1    11,300    SH       DEFINED   11,300
WASHINGTON GAS LIGHT CO          COM     938837101    3,025     4,2    110,000    SH       DEFINED   110,000
WASHINGTON REAL ESTATE INV   SH BEN INT  939653101     60       4,2     4,000     SH       DEFINED    4,000
WASTE MANAGEMENT INC             COM     94106L109    9,178     4,2    534,000    SH       DEFINED   534,000
WELLS FARGO COMPANY              COM     949746101    3,639     3,2     90,000    SH       DEFINED   90,000
WILLIAMS COS INC                 COM     969457100    7,467   3,4,2,1  244,312    SH       DEFINED   244,312
WIND RIVER SYSTEMS               COM     973149107     187      3,2     5,100     SH       DEFINED    5,100
WIND RIVER SYSTM             SUB NT CONV 973149AC1    3,468     3,2   2,725,000  PRN       DEFINED
WISCONSIN ENERGY CORP            COM     976657106    1,136     4,2     59,000    SH       DEFINED   59,000
WPS RESOURCES CORP               COM     92931B106    1,088     4,2     43,300    SH       DEFINED   43,300
XEROX CORP                       COM     984121103    2,496     4,2    110,000    SH       DEFINED   110,000
XTRA CORP                        COM     984138107     686      3,2     16,089    SH       DEFINED   16,089
</Table>