FORM 13F COVER PAGE

Report for the Calendar Year or Quarter Ended: September 30, 1999

Check here if Amentment [ 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:

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.
<PAGE>

FORM 13F SUMMARY PAGE

Report Summary:

Number of Other Included Managers: 4

Form 13F Information Table Entry Total: 2,102,893 (in thousands)

Form 13F Information Table Value Total: 241


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


<TABLE>
<S>                         <C>                <C>          <C>      <C>        <C>        <C>         <C>    <C>       <C>    <C>
                                                                                  FORM 13F INFORMATION TABLE
                                                             VALUE     SHARES/  SH/  PUT/  INVESTMENT   OTHER     VOTING AUTHORITY
      NAME OF ISSUER        TITLE OF CLASS         CUSIP    (x1000)    PRN AMT  PRN  CALL  DSCRETION   MANAGERS  SOLE  SHARED NONE
------------------------------------------------------------------------------------------------------------------------------------
ACNIELSEN CORP              COM                004833109         340      15,000 SH         DEFINED         2    15,000    -    -
ACX TECHNOLOGIES            COM                005123104           0           2 SH         DEFINED       1,2         2    -    -
ADVANTICA RESTAURANT        COM                00758B109      11,752   3,877,287 SH         DEFINED       2,4 3,877,287    -    -
AES CORP                    JR SBDB CV4.5%06   00130HAN5       6,816   5,330,000 PRN        DEFINED       2,3     -        -    -
AFFIL COMPUTER              SB NT CV 4% 05     008190AD2       5,351   4,720,000 PRN        DEFINED       2,3     -        -    -
AGNICO-EAGLE MINES LTD      COM                008474108       2,131     275,000 SH         DEFINED       2,4   275,000    -    -
AGRIUM INC                  COM                008916108          53       5,400 SH         DEFINED       1.2     5,400    -    -
ALEXANDRIA REAL EST         COM                015271109         118       4,000 SH         DEFINED       2,4     4,000    -    -
ALLIANCE FOREST PRODUCTS    COM                01859J108          17       1,500 SH         DEFINED       1.2     1,500    -    -
ALLIN COMMUNICATIONS CORP   COM                019924109       1,445     340,000 SH         DEFINED       2,4   340,000    -    -
ALLTEL CORP                 COM                020039103      14,100     200,352 SH         DEFINED     1,2,4   200,352    -    -
ALPHARMA INC                SB NT CV 5,75% 05  020813AB7       6,659   4,960,000 PRN        DEFINED       2,3     -        -    -
ALTIVA FINANCIAL CORP       COM NEW            021497300         144      32,000 SH         DEFINED       2,4    32,000    -    -
AMERADA HESS                COM                023551104       1,531      25,000 SH         DEFINED       2,4    25,000    -    -
AMERICA ONLINE INC          COM                02364J104       2,080      20,000 SH         DEFINED       2,3    20,000    -    -
AMERICA WEST HOLDINGS       CL B               023657208         368      21,278 SH         DEFINED       2,3    21,278    -    -
AMERICAN BUSINESSFINL SVCS  COM                02476B106         301      25,043 SH         DEFINED       2,4    25,043    -    -
AMERICAN CAPITAL STRAT      COM                024937104       3,006     162,500 SH         DEFINED       2,4   162,500    -    -
AMERICAN EXPRESS            COM                025816109       3,366      25,000 SH         DEFINED       2,3    25,000    -    -
AMERICAN INTL GROUP INC     COM                026874107       1,278      14,703 SH         DEFINED     1,2,4    14,703    -    -
AMR  CORP                   COM                001765106       1,908      35,000 SH         DEFINED       2,4    35,000    -    -
ANHEUSER BUSCH CO           COM                035229103       3,510      50,100 SH         DEFINED     2,3,4    50,100    -    -
ANTEC CORP                  SB NT CV 144A 03   03664PAA3       5,265   2,250,000 PRN        DEFINED       2,4     -        -    -
APPLIED MATERIALS INC.      COM                038222105       6,588      84,800 SH         DEFINED     1,2,3    84,800    -    -
ARCHER DANIELS              COM                039483102       4,790     395,078 SH         DEFINED         2   395,078    -    -
ARGUSS HOLDINGS INC         COM                040282105       5,382     364,912 SH         DEFINED       2,4   364,912    -    -
ASHANTI GOLDFIELDS GDR      GLOB DEP RCPT      043743202       2,252     286,000 SH         DEFINED       2,4   286,000    -    -
AT & T CORPORATION          COM                001957109      11,963     275,000 SH         DEFINED       2,4   275,000    -    -
AUTOTOTE CORP-CLASS A       CL A               053323101       1,752     667,503 SH         DEFINED       2,4   667,503    -    -
BAKER HUGHES INC            SR LYON ZERO 08    057224AH0       2,468   3,404,000 PRN        DEFINED       2,4     -        -    -
BANGOR HYDRO-ELECTRIC CO    COM                060077104         111       6,700 SH         DEFINED       2,4     6,700    -    -
BANK UNITED CORP-CL A       CL A               065412108       2,266      70,000 SH         DEFINED       2,3    70,000    -    -
BARRICK GOLD CORP           COM                067901108         906      41,500 SH         DEFINED     1,2,4    41,500    -    -
BAYCORP HOLDINGS LTD        COM                072728108       4,675     667,842 SH         DEFINED     2,3,4   667,842    -    -
BCE INC.                    COM                05534B109         129       2,600 SH         DEFINED       1,2     2,600    -    -
BEVERLY ENTERPRISES INC     COM NEW            087851309       1,059     249,100 SH         DEFINED       2,4   249,100    -    -
BUCKHEAD AMERICA CORP       COM                11835A105         127      21,579 SH         DEFINED       2,4    21,579    -    -
BUILDING ONE SERVICESCORP   COM                120114103         667      54,718 SH         DEFINED       2,4    54,718    -    -
CABOT INDUSTRIAL TRUST      COM                127072106         270      14,000 SH         DEFINED       2,4    14,000    -    -
CANADIAN IMPERIAL BANK      COM                136069101          70       3,600 SH         DEFINED       1,2     3,600    -    -
CANADIAN NATL RAILWAY CO    COM                136375102           7         224 SH         DEFINED       2,3       224    -    -
CANADIAN OCCIDENTAL PETE    COM                136420106          40       2,200 SH         DEFINED       1,2     2,200    -    -
CARDINAL HEALTH  INC.       COM                14149Y108       3,495      64,125 SH         DEFINED       2,3    64,125    -    -
CATELLUS DEVELOPMENT CORP   COM                149111106       1,266     107,724 SH         DEFINED       2,4   107,724    -    -
CENTOCOR INC                SB DB CV 4.75%05   152342AE1       1,572   1,200,000 PRN        DEFINED       2,3     -        -    -
CENTRAL GARDEN              SUB NT CONV 6%03   153527AC0         627     885,000 PRN        DEFINED       2,3     -        -    -
CHECKPOINT SYS              SDBCV144A5.25%05   162825AA1       2,723   3,730,000 PRN        DEFINED       2,3     -        -    -
CISCO SYSTEMS INC           COM                17275R102       9,331     136,100 SH         DEFINED     1,2,3   136,100    -    -
CITIGROUP INC               COM                172967101       3,564      81,000 SH         DEFINED       2,3    81,000    -    -
CNA INCOME SHARES INC       COM                126119106       1,056     118,933 SH         DEFINED       2,4   118,933    -    -
CNA SURETY CORPORATION      COM                12612L108     355,640  27,096,347 SH         DEFINED     1,2,4 27,096,347   -    -
COCA COLA CO                COM                191216100         328       6,800 SH         DEFINED       1.2     6,800    -    -
COLUMBIA HCA HEALTHCARE     COM                197677107       2,119     100,000 SH         DEFINED       2,4   100,000    -    -
COMCAST CORP CL A SPL       CL A SPL           200300200      16,149     405,000 SH         DEFINED     2,3,4   405,000    -    -
COMMUNICATION INTELLIGENCE  COM                20338K106         984     750,000 SH         DEFINED       2,4   750,000    -    -
COX COMMUNICATIONS CL A     CL A               224044107       1,850      44,300 SH         DEFINED     2,3,4    44,300    -    -
CRESCENT REAL ESTATE EQT CO COM                225756105         855      47,500 SH         DEFINED       2,4    47,500    -    -
CROWN RESOURCE CORP/COLO    COM                228569109       1,504     501,400 SH         DEFINED       2,4   501,400    -    -
CYANOTECH CORP NEW          COM NEW            232437202         162     225,000 SH         DEFINED       1,2   225,000    -    -
CYPRESS SEMICON             SUB NT CONV 6% 02  232806AD1       3,450   3,000,000 PRN        DEFINED       2,3     -        -    -
DATA GEN CORP               SUB NT CONV 6% 04  237688AG1       2,070   2,000,000 PRN        DEFINED       2,4     -        -    -
DELL COMPUTER CORP          COM                247025109       1,681      40,200 SH         DEFINED       1,2    40,200    -    -
DELPHI INFORMATION SYSTEMS  COM NEW            247171200       2,058     304,924 SH         DEFINED       1,2   304,924    -    -
DONALDSON LUFKIN,JENRETTE   COM DLJ            257661108         593      15,000 SH         DEFINED       2,4    15,000    -    -
EAST-WEST BANCORP INC.      COM                27579R104      23,750   2,000,000 SH         DEFINED       2,4 2,000,000    -    -
EASTERN UTILITIES ASSOC     COM                277173100       3,053     102,200 SH         DEFINED       2,4   102,200    -    -
ECOLAB INC                  COM                278865100          41       1,200 SH         DEFINED         2     1,200    -    -
EMC CORP                    SB NT CV 3.25%02   26865YAA2      12,610   2,000,000 PRN        DEFINED     2,3,4     -        -    -
EMC CORPORATION             COM                268648102       5,358      75,000 SH         DEFINED       2,3    75,000    -    -
ENGEL GENERAL DEVELOPERS    ORD                M40515104         210     120,000 SH         DEFINED       2,4   120,000    -    -
ENRON CORP                  COM                293561106       6,501     157,600 SH         DEFINED     1,2,3   157,600    -    -
EQUANT NV-NY REGISTERED SHR NY REG SHS         294409107       2,441      30,000 SH         DEFINED       2,3    30,000    -    -
EQUITABLE RESOURCES INC     COM                294549100       4,159     110,000 SH         DEFINED       2,4   110,000    -    -
EQUITY OFFICE PROPERTIES    PFD CV B 5.25%     294741509       7,200     187,000 SH         DEFINED       2,4   187,000    -    -
ESTEE LAUDER COMPANIES      CL A               518439104          39       1,000 SH         DEFINED       2,4     1,000    -    -
EXIGENT INTERNATIONAL INC   COM                302056106           0         125 SH         DEFINED       2,3       125    -    -
EXIGENT INTERNATIONAL WT    WT EXP 013000      302056114           0         200 SH  CALL   DEFINED       2,3     -        -    -
FIRST ALLIANCE CORP         COM                317936102         558     262,500 SH         DEFINED       2,4   262,500    -    -
FIRST DATA CORP             COM                319963104       3,291      75,000 SH         DEFINED       2,3    75,000    -    -
FRIEDMAN BILLINGS RAMSEY-A  CL A               358433100         354      51,000 SH         DEFINED       2,4    51,000    -    -
GENENTECH INC               SUB DEB CV 5%02    368710AA7       5,822   6,065,000 PRN        DEFINED       2,4     -        -    -
GENERAL COMMUNICATION -CL A CL A               369385109          41       7,913 SH         DEFINED       2,3     7,913    -    -
GENERAL ELECTRIC CO         COM                369604103       5,738      48,400 SH         DEFINED       2,3    48,400    -    -
GILLETTE CO.                COM                375766102       3,251      95,800 SH         DEFINED     1,2,3    95,800    -    -
GLAMIS GOLD LTD          SV COM                376775102       3,772   1,508,640 SH         DEFINED       2,4 1,508,640    -    -
GLENBOROUGH REALTY TRUST INCCOM                37803P105         413      25,000 SH         DEFINED       2,4    25,000    -    -
GLOBAL CROSSING LTD         COM                G3921A100     965,732  36,442,735 SH         DEFINED       2,4 36,442,735   -    -
GOLD RESERVE INC  COM       CL A               38068N108       1,341   1,114,950 SH         DEFINED       2,4 1,114,950    -    -
GOLD STANDARD INC           COM PAR $0.001     380724302         186      82,813 SH         DEFINED       2,4    82,813    -    -
GOLDCORP INC-CL A           CL A SUB VTG       380956102       1,811     275,000 SH         DEFINED       2,4   275,000    -    -
GOLDEN STATE BANCORP        COM                381197102       2,298     128,100 SH         DEFINED       2,4   128,100    -    -
GOLDMAN SACHS GROUP INC     COM                38141G104          61       1,000 SH         DEFINED       1,2     1,000    -    -
GREENPOINT FINANCIAL CORP   COM                395384100       1,360      51,200 SH         DEFINED       2,4    51,200    -    -
HAYES LEMMERZ INTL INC COM  COM                420781106       6,615     284,500 SH         DEFINED       2,4   284,500    -    -
HEALTHCARE REALTY TRUST     COM                421946104       3,413     182,000 SH         DEFINED       2,4   182,000    -    -
HEWLET-PACKARD              SB LYON ZERO 17    428236AC7      31,330  52,000,000 PRN        DEFINED       2,4     -        -    -
HEWLETT-PACK FIN            SBLYON144AZERO 17  428236AA1       9,975  15,000,000 PRN        DEFINED       2,4     -        -    -
HOME DEPOT                  COM                437076102       1,894      27,600 SH         DEFINED       1,2    27,600    -    -
HOMESTAKE MINING CO         COM                437614100       1,669     181,639 SH         DEFINED       2,4   181,639    -    -
HORIZON GROUP PROPERTIES    COM                44041U102           2         630 SH         DEFINED       2,4       630    -    -
HUMANA INC.                 COM                444859102       1,203     175,000 SH         DEFINED       2,4   175,000    -    -
HYPERION TELECOMM INC-CL A  CL A               44914K306       1,027      41,382 SH         DEFINED       2,4    41,382    -    -
ILLINOIS TOOL WORKS INC     COM                452308109       3,862      51,800 SH         DEFINED       2,4    51,800    -    -
IMPERIAL CREDIT COMMERCIAL  COM                45272T102       1,650     150,000 SH         DEFINED       2,4   150,000    -    -
IMPERIAL OIL LTD PERTOLINE  COM NEW            453038408          69       3,300 SH         DEFINED       1,2     3,300    -    -
INCO LTD                    COM                453258402          28       1,300 SH         DEFINED       1,2     1,300    -    -
INTEL CORP                  COM                458140100       5,053      68,000 SH         DEFINED     1,2,3    68,000    -    -
INTERMEDIA COMMUNICATIONS   COM                458801107       2,460     113,113 SH         DEFINED     2,3,4   113,113    -    -
INTERNATIONAL BUSNESS MACH  COM                459200101       7,513      61,900 SH         DEFINED     2,3,4    61,900    -    -
JPS INDUSTRIES INC          COM                46624E405       1,101     419,243 SH         DEFINED       2,4   419,243    -    -
KANSAS CITY SOUTHERN INDS   COM                485170104       1,209      26,000 SH         DEFINED       1,2    26,000    -    -
KEMPER INTERMED GOVT TRST   SH BEN INT         488413105         946     149,800 SH         DEFINED       2,4   149,800    -    -
KEYSPAN CORPORATION         COM                49337W100      11,217     391,860 SH         DEFINED       2,4   391,860    -    -
KEYSTONE FINANCIAL INC      COM                493482103          24       1,013 SH         DEFINED       1.2     1,013    -    -
KROGER COMPANY              COM                501044101       4,417     200,200 SH         DEFINED       2,3   200,200    -    -
L-3 COMMUNICATIONS CORP     COM                502424104       2,027      53,700 SH         DEFINED       2,3    53,700    -    -
LAIDLAW INC                 COM                50730K503          21       3,000 SH         DEFINED       1,2     3,000    -    -
LASALLE RE HOLDINGS         ORD                G5383Q101      19,777   1,425,354 SH         DEFINED       2,4 1,425,354    -    -
LIBERTY MEDIA               COM LIB GRP A      001957208      10,433     281,024 SH         DEFINED       2,3   281,024    -    -
LIBERTY PROPERTY TRUST      SH BEN INT         531172104       1,059      46,700 SH         DEFINED       2,4    46,700    -    -
LILLY (ELI) & CO.           COM                532457108       2,419      37,800 SH         DEFINED       2,3    37,800    -    -
LORAL SPACE & COMM          COM                G56462107       2,776     161,500 SH         DEFINED       2,3   161,500    -    -
LOWES CO INC                COM                548661107         975      20,000 SH         DEFINED       2,3    20,000    -    -
LUCENT TECHNOLOGIES         COM                549463107         720      11,100 SH         DEFINED       1,2    11,100    -    -
MACK-CALI REALTY CORP       COM                554489104         268      10,000 SH         DEFINED       2,4    10,000    -    -
MACMILLAN  BLOEDEL  LTD.    COM                554783209          16       1,000 SH         DEFINED       1,2     1,000    -    -
MAGNA INT'L INC             SUB DEB CV 5% 02   559222AE4         361     360,000 PRN        DEFINED       2,3     -        -    -
MAXIM INTEGRATED PRODUCTS   COM                57772K101       1,274      20,200 SH         DEFINED       1,2    20,200    -    -
MCI WORLDCOM INC.           COM                55268B106       6,038      84,000 SH         DEFINED       2,3    84,000    -    -
MCKESSON HBOC INC           COM                58155Q103       4,640     160,000 SH         DEFINED       2,4   160,000    -    -
MCLEODUSA INC-CL A          COM                582266102         638      15,000 SH         DEFINED         2    15,000    -    -
MEDIAONE GROUP, INC         COM                58440J104      22,369     327,449 SH         DEFINED     1,2,4   327,449    -    -
MEDIAONE GROUP-CALL11/99    PFD CV SER D       58440J203         148       1,095 SH         DEFINED       1,2     1,095    -    -
MEDTRONIC INC               COM                585055106       4,260     120,000 SH         DEFINED       2,3   120,000    -    -
MERIDIAN GOLD INC           COM                589975101       1,814     265,000 SH         DEFINED       2,4   265,000    -    -
MICROCELL TELECOMM          CL B NON VTG       59501T304       1,294      99,537 SH         DEFINED       2,4     -        -    -
MICROSOFT CORP              COM                594918104       4,818      53,200 SH         DEFINED     1,2,3    53,200    -    -
MIRAGE RESORTS INC          COM                60462E104         780      55,700 SH         DEFINED       1,2    55,700    -    -
MOLEX - CLASS A NON-VOT     CL A               608554200       3,483     107,595 SH         DEFINED       2,3   107,595    -    -
MONSANTO CO                 ADJ CONVR RATE     611662305         180       5,000 SH         DEFINED         2     5,000    -    -
MONSANTO CO                 COM                611662107       2,855      80,000 SH         DEFINED       2,3    80,000    -    -
MORRISON KNUDSEN CORP-WTS   WT EXP 031103      61844A117           0          35 SH  CALL   DEFINED       1,2     -        -    -
MOTOROLA INC                COM                620076109       5,632      64,000 SH         DEFINED       2,3    64,000    -    -
MSDW ASIA PACIFIC FUND      COM                61744U106       1,875     189,900 SH         DEFINED       2,4   189,900    -    -
MSDW INDIA INVESTMENT FUND  COM                61745C105       1,688     127,400 SH         DEFINED       2,4   127,400    -    -
NACCO INDS INC CL A         CL A               629579103       1,195      17,100 SH         DEFINED       2,4    17,100    -    -
NATL DATA CORP              SUB NT CONV 5%03   635621AA3       4,043   4,750,000 SH         DEFINED       2,3 4,750,000    -    -
NATL SEMICONDUCT-CALL99     SBNTCV144A6.5%02   637640AA1       1,698   1,715,000 SH         DEFINED       2,4 1,715,000    -    -
NETOPIA INC                 COM                64114K104         636      15,957 SH         DEFINED       1,2    15,957    -    -
NEXTEL COMMNS, INC CL A     CL A               65332V103         384       5,661 SH         DEFINED       2,3     5,661    -    -
NIAGARA MOHAWK HOLD INC     COM                653520106       2,828     181,700 SH         DEFINED       2,4   181,700    -    -
NORTH FORK BANCORP          COM                659424105       2,286     117,250 SH         DEFINED       2,4   117,250    -    -
NOVA CHEMICALS CORP         COM                66977W109          15         718 SH         DEFINED       1,2       718    -    -
OAK INDS-CALLED             SB NT CV 144A 08   671400AJ8       4,394   4,200,000 PRN        DEFINED       2,3     -        -    -
OAK INDUSTRIES              SB NT CV4.875%08   671400AL3       1,779   1,700,000 PRN        DEFINED       2,3     -        -    -
OMNICARE INC                SUB DEB CV 5%0 7   681904AD0       2,548   3,920,000 PRN        DEFINED       2,3     -        -    -
ON COMMAND CORPORATION      COM                682160106       6,697     352,480 SH         DEFINED       2,4   352,480    -    -
ON COMMAND CORP- CLASS B    WTSB EX 100703     682160122         785     123,130 SH  CALL   DEFINED       2,4     -        -    -
ORBITAL SCIENCES            SB NT CV 5% 02     685564AC0       1,094   1,250,000 PRN        DEFINED       2,3     -        -    -
OWENS-ILL INC               PFD CONV .02       690768502       3,232      98,700 SH         DEFINED       2,4    98,700    -    -
OWENS-ILLINOIS INC          COM NEW            690768403       5,944     300,000 SH         DEFINED       2,4   300,000    -    -
PAYCHEX INC                 COM                704326107         783      22,950 SH         DEFINED       1,2    22,950    -    -
PEGASUS COMM CORP           CL A               705904100         290       6,424 SH         DEFINED       2,4     6,424    -    -
PEPSI BOTTLING GROUP INC    COM                713409100       6,398     375,000 SH         DEFINED       2,4   375,000    -    -
PEPSICO INCORPORATED        COM                713448108       3,146     104,000 SH         DEFINED       2,3   104,000    -    -
PFIZER INC                  COM                717081103       6,480     180,300 SH         DEFINED     1,2,3   180,300    -    -
PIER 1 IMPORTS              SB NT CV 5.75% 03  720279AF5       1,295   1,270,000 PRN        DEFINED       2,3     -        -    -
PITNEY-BOWES  INC           COM                724479100       2,498      41,000 SH         DEFINED       2,3    41,000    -    -
PLACER DOME INC             COM                725906101       7,169     481,952 SH         DEFINED     1,2,3   481,952    -    -
POLICY MANAGEMENT SYS CORP  COM                731108106      48,039   1,519,024 SH         DEFINED       2,4 1,519,024    -    -
POTASH CORP OF SASKATCHEWAN COM                73755L107       3,480      67,400 SH         DEFINED       2,4    67,400    -    -
POTOMAC ELECTRIC POWER      COM                737679100      13,354     525,000 SH         DEFINED       2,4   525,000    -    -
PREMIER PARKS               COM NEW            740540208         316      10,900 SH         DEFINED         2    10,900    -    -
PRENTISS PROPERTIES TRUST   SH BEN INT         740706106          89       4,000 SH         DEFINED       2,4     4,000    -    -
PRICE (T. ROWE) ASSOCIATES  COM                741477103         541      19,700 SH         DEFINED       1,2    19,700    -    -
PRIME HOSPITALITY CORP      COM                741917108          51       6,375 SH         DEFINED       2,4     6,375    -    -
PRIME RETAIL INC            COM                741570105          93      12,600 SH         DEFINED       2,4    12,600    -    -
PRISON REALTY TRUST INC     COM                74264N105       7,001     651,300 SH         DEFINED       2,4   651,300    -    -
PROCTER & GAMBLE CO         COM                742718109       5,569      59,400 SH         DEFINED     1,2,3    59,400    -    -
PROGRESSIVE CORP            COM                743315103         841      10,300 SH         DEFINED       1,2    10,300    -    -
PROVIDIAN FINANCIAL CORP    COM                74406A102         578       7,300 SH         DEFINED       1,2     7,300    -    -
PUBLIC SERVICE CO OF N MEX  COM                744499104       1,606      88,000 SH         DEFINED       2,4    88,000    -    -
RADISYS CORP                COM                750459109         961      24,476 SH         DEFINED       1,2    24,476    -    -
RAYTHEON CO. COM            CL B               755111408       2,630      53,000 SH         DEFINED       2,3    53,000    -    -
REYNOLDS METALS CO          COM                761763101       5,802      96,100 SH         DEFINED       2,4    96,100    -    -
ROBERT HALF INTL INC        COM                770323103         530      22,300 SH         DEFINED       1,2    22,300    -    -
SAFEWAY INC                 COM NEW            786514208       3,582      94,100 SH         DEFINED     1,2,3    94,100    -    -
SANMINA CORP                COM                800907AA5       1,264   1,130,000 SH         DEFINED       2,3 1,130,000    -    -
SANTA FE INTERN CORP        ORD                G7805C108       2,048      95,000 SH         DEFINED       2,3    95,000    -    -
SCHERING PLOUGH             COM                806605101       5,453     125,000 SH         DEFINED       2,3   125,000    -    -
SCHLUMBERGER LIMITED        COM                806857108       4,649      74,600 SH         DEFINED       2,3    74,600    -    -
SCHWAB(CHARLES) CORP        COM                808513105         856      25,600 SH         DEFINED       1,2    25,600    -    -
SEAGATE TECHNOLOGY INC.     COM                811804103       1,020      33,300 SH         DEFINED       2,4    33,300    -    -
SEARS ROEBUCK & CO INC      COM                812387108       4,647     148,100 SH         DEFINED       2,4   148,100    -    -
SEPRACOR INC                SB DB CV144A% 05   817315AF1       4,810   5,200,000 PRN        DEFINED       2,3     -        -    -
SFX ENTERTAINMENT INC       CL A               784178105         565      17,000 SH         DEFINED     2,3,4    17,000    -    -
SIEBEL SYSTEMS INC          COM                826170102       1,419      21,300 SH         DEFINED       1,2    21,300    -    -
SMITH CHARLES E RES         COM                832197107         256       7,500 SH         DEFINED       2,4     7,500    -    -
SOLUTIA INC                 COM                834376105         268      15,000 SH         DEFINED         2    15,000    -    -
SPEEDWAY MOTORSP            SB DB CV 5.75%03   847788AC0       7,154   4,781,000 PRN        DEFINED       2,3     -        -    -
SPLITROCK SERVICES INC      COM                848636304       1,385      92,364 SH         DEFINED       2,4    92,364    -    -
SPRINT CORP                 COM FON GROUP      852061100       4,549      83,856 SH         DEFINED     1,2,3    83,856    -    -
SPRINT CORP (PCS GROUP)     PCS COM SER 2      852061506          53         714 SH         DEFINED       1,2       714    -    -
ST. LAURENT PAPERBOARD      COM                790907109          24       1,900 SH         DEFINED       1,2     1,900    -    -
STAR GAS PTNR-SEN SUB UTS   SR SUB UN  LTD     85512C204         371      42,434 SH         DEFINED       2,4    42,434    -    -
STILLWATER MINING CO        COM                86074Q102          73       2,700 SH         DEFINED       2,4     2,700    -    -
STORAGE TECH /NEW/COM       COM PAR $0.10      862111200          53       2,754 SH         DEFINED       2,3     2,754    -    -
SUN MICROSYSTEMS INC        COM                866810104       4,092      44,000 SH         DEFINED       2,3    44,000    -    -
SUNBEAM CORP                SRSDCV ZRO144A18   867071AA0      16,369  97,000,000 PRN        DEFINED       2,4     -        -    -
SUNRISE ASSISTED            SUB NT CV 5.5% 03  86768KAC0       4,493   4,650,000 PRN        DEFINED       2,3     -        -    -
TANDY CORP                  COM                875382103       3,928      76,000 SH         DEFINED       2,3    76,000    -    -
TECNOMATIX TECH LTD         ORD                M8743P105          18       1,000 SH         DEFINED       2,4     1,000    -    -
TEEKAY SHIPPING CORP        COM                V89564104       4,067     260,300 SH         DEFINED       2,4   260,300    -    -
TELLABS INC                 COM                879664100       4,327      76,000 SH         DEFINED       2,3    76,000    -    -
TENNECO INC                 COM                88037E101       1,700     100,000 SH         DEFINED       2,4   100,000    -    -
TEXAS INSTRUMENTS INC       COM                882508104       5,182      63,000 SH         DEFINED       2,3    63,000    -    -
THOUSAND TRAILS, INC        COM                885502104         738     159,660 SH         DEFINED       2,4   159,660    -    -
TIME WARNER INC             COM                887315109       6,895     113,500 SH         DEFINED     1,2,4   113,500    -    -
TORONTO DOMIN BK NEW CDN$   COM NEW            891160509         101       5,200 SH         DEFINED       1,2     5,200    -    -
TOWER AUTOMOTIVE            SB NT CV  5% 04    891707AE1       5,306   5,600,000 PRN        DEFINED       2,3     -        -    -
TRANSCANADA PIPELINE LTD.   COM                893526103          47       3,592 SH         DEFINED       1,2     3,592    -    -
TRIBUNE CO NEW              COM                896047107       8,657     174,000 SH         DEFINED     2,3,4   174,000    -    -
TYCO INTERNATIONAL LTD      COM                902124106       4,750      46,000 SH         DEFINED       2,3    46,000    -    -
UGLY DUCKLING CORP          COM                903512101         356      50,000 SH         DEFINED       2,4    50,000    -    -
UNIGENE LABORATORIES INC    COM                904753100       1,500   2,000,000 SH         DEFINED       2,4 2,000,000    -    -
UNITED TECHNOLOGIES CORP.   COM                913017109       2,752      46,400 SH         DEFINED       2,3    46,400    -    -
UNOCAL CORP                 COM                915289102       2,172      58,600 SH         DEFINED       2,4    58,600    -    -
US AIR GROUP INC            COM                911905107         327      12,462 SH         DEFINED       2,4    12,462    -    -
US WEST INC                 COM                91273H101          17         293 SH         DEFINED       1,2       293    -    -
USEC INC                    COM                90333E108       3,172     309,500 SH         DEFINED       2,4   309,500    -    -
UST INC                     COM                902911106       7,351     243,500 SH         DEFINED       2,4   243,500    -    -
WAL MART STORES INC         COM                931142103       1,641      34,500 SH         DEFINED       2,3    34,500    -    -
WARNER LAMBERT CO           COM                934488107         717      10,800 SH         DEFINED       1,2    10,800    -    -
WASHINGTON REAL EST INV     SH BEN INT         939653101          63       4,000 SH         DEFINED       2,4     4,000    -    -
WASTE MANAGEMENT            SUB NT CINV 4%02   94106LAA7       3,590   4,000,000 PRN        DEFINED       2,4     -        -    -
WASTE MANAGEMENT INC        COM                94106L109       3,754     195,000 SH         DEFINED       2,4   195,000    -    -
WELLS FARGO COMPANY         COM                949746101       3,566      90,000 SH         DEFINED       2,3    90,000    -    -
WESCO INTERNATIONAL INC     COM                95082P105         325      23,000 SH         DEFINED         2    23,000    -    -
WILLIAMS COS INC            COM                969457100          87       2,312 SH         DEFINED       1,2     2,312    -    -
XEROX CORP                  COM                984121103       3,753      89,500 SH         DEFINED       2,4    89,500    -    -
XTRA CORP                   COM                984138107         640      16,089 SH         DEFINED       2,3    16,089    -    -
</TABLE>