FORM 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: September 30, 2002
Check here if Amendment [ ]; Amendment Number:
This Amendment (Check only one.): [ ] is a restatement.
[ ] adds new holdings entries.
Institutional Investment Manager Filing this Report:
Name: 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 8,2002
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.
FORM 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers: 4
Form 13F Information Table Entry Total: 322
Form 13F Information Table Value Total: 1,346,848.42(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
13F INFORMATION TABLE
CLASS VALUE OTHER PUT/ INVSTMT VOTING AUTHORITY
NAME OF ISSUER TITLE CUSIP (X1000) MGRS AMOUNT TYPE CALL DSCRETN SOLE
ACME COMMUNICATIONS INC COM 004631107 515 4,2 66071 SH DEFINED 66071
ACUITY BRANDS INC COM 00508Y102 330 2 26950 SH DEFINED 26950
ACXIOM CORP COM 005125109 841 3,2 59100 SH DEFINED 59100
AETNA INC COM 00817Y108 1034 2 28875 SH DEFINED 28875
AFFIL COMPUTER NOTE 008190AF7 2937 3,2 2400000 PRN DEFINED 55256
AFFILIATED COMPUTER SVCS-A CL A 008190100 1806 3,2 42400 SH DEFINED 42400
AGERE SYSTEMS INC-A CL A 00845V100 1113 4,2 1012100 SH DEFINED 1012100
AGILENT TECH INC DBCV 00846UAB7 4025 3,4,2 5000000 PRN DEFINED 155183
AGILENT TECHNOLOGIES INC COM 00846U101 2279 3,4,2 174100 SH DEFINED 174100
AIR PRODUCTS & CHEMICAL COM 009158106 294 2 7000 SH DEFINED 7000
ALCOA INC COM 013817101 2239 3,2 116000 SH DEFINED 116000
ALCON INC COM H01301102 3139 3,2 81000 SH DEFINED 81000
ALLEGHENY ENERGY INC COM 017361106 4464 4,2 340800 SH DEFINED 340800
ALLSTATE CORPORATION COM 020002101 732 2 20600 SH DEFINED 20600
AMBAC FINANCIAL GROUP INC COM 023139108 5928 4,2 110000 SH DEFINED 110000
AMER INTL GROUP DBCV 026874AP2 1258 4,2 2000000 PRN DEFINED 12125
AMERADA HESS COM 023551104 7467 4,2 110000 SH DEFINED 110000
AMERICAN EXPRESS COM 025816109 2027 3,2 65000 SH DEFINED 65000
AMERICAN INTL GROUP INC COM 026874107 1778 3,2 32500 SH DEFINED 32500
AMERICAN NATIONAL INSURANCE COM 028591105 345 2 5000 SH DEFINED 5000
AMERICAN PHYSICIANS CAP INC COM 028884104 475 2 28200 SH DEFINED 28200
AMERISOURCE HEALTH CORP NOTE 03071PAD4 3946 3,2 2560000 PRN DEFINED 48331
AMERISOURCEBERGEN CORP COM 03073E105 2909 3,2 41110 SH DEFINED 41110
AMGEN INC COM 031162100 4161 3,4,2 99100 SH DEFINED 99100
ANADARKO PETROLEUM CORP COM 032511107 5222 4,2 117250 SH DEFINED 117250
ANHEUSER BUSCH CO COM 035229103 1012 3,2 20000 SH DEFINED 20000
ANIXTER INTERNATIONAL INC COM 035290105 288 2 13975 SH DEFINED 13975
ANNUITY AND LIFE RE HOLDINGS ORD G03910109 320 2 76300 SH DEFINED 76300
ANTEC CORP NOTE 03664PAB1 204 4,2 225000 PRN DEFINED 9375
AON CORP COM 037389103 11655 4,2 568800 SH DEFINED 568800
APACHE CORP COM 037411105 2408 2 40500 SH DEFINED 40500
APPLIED MATERIALS INC. COM 038222105 1594 2 138000 SH DEFINED 138000
ARDEN REALTY GROUP INC COM 039793104 837 4,2 35400 SH DEFINED 35400
ARRIS GROUP COM 04269Q100 148 4,2 40000 SH DEFINED 40000
ARTESYN TECHNOLOGIES INC COM 043127109 171 2 112925 SH DEFINED 112925
ARVINMERITOR INC COM 043353101 273 2 14575 SH DEFINED 14575
AT & T CORPORATION COM 001957109 3754 4,2 312600 SH DEFINED 312600
AT&T WIRELESS SERVICES INC COM 00209A106 287 4,2 69633 SH DEFINED 69633
ATLAS AIR WORLDWIDE HLDGS COM 049164106 118 4,2,1 49000 SH DEFINED 49000
BANK OF AMERICA CORP COM 060505104 957 3,2 15000 SH DEFINED 15000
BARNES & NOBLE NOTE 067774AD1 2426 3,2 2450000 PRN DEFINED 75357
BARNES & NOBLE INC COM 067774109 1228 3,2 56480 SH DEFINED 56480
BARRICK GOLD CORP COM 067901108 7080 4,2 455300 SH DEFINED 455300
BECTON DICKINSON & CO COM 075887109 1903 4,2 67000 SH DEFINED 67000
BEDFORD PROPERTY INVESTORS COM 076446301 141 4,2 5700 SH DEFINED 5700
BELLSOUTH CORP COM 079860102 1469 4,2 80000 SH DEFINED 80000
BISYS GROUP NOTE 055472AB0 2428 3,2 2650000 PRN DEFINED 79356
BISYS GROUP INC/THE COM 055472104 882 3,2 50800 SH DEFINED 50800
BJ SERVICES CO COM 055482103 789 3,4,2 30000 SH DEFINED 30000
BKF CAPITAL GROUP INC COM 05548G102 8 2 400 SH DEFINED 400
BOEING COMPANY COM 097023105 916 2 26825 SH DEFINED 26825
BORG WARNER AUTOMOTIVE INC COM 099724106 161 2 3250 SH DEFINED 3250
BOSTON PROPERTIES INC COM 101121101 1116 4,2 30000 SH DEFINED 30000
BOWNE & CO INC COM 103043105 311 2 31050 SH DEFINED 31050
BRANDYWINE REALTY TRUST SHINTNW 105368203 444 4,2 19700 SH DEFINED 19700
BRISTOL-MYERS SQUIBB CO COM 110122108 4670 4,2 196200 SH DEFINED 196200
BURLINGTON RESOURCES INC COM 122014103 3357 4,2 87500 SH DEFINED 87500
BURR-BROWN CORP NOTE 122574AF3 990 4,2 1000000 PRN DEFINED 22497
CABLEVISION SYSTEMS -CL A CL A 12686C109 2641 4,2 291500 SH DEFINED 291500
CAMPBELL SOUP CO COM 134429109 1563 4,2 70800 SH DEFINED 70800
CARDINAL HEALTH INC. COM 14149Y108 4008 3,2 64437 SH DEFINED 64437
CARNIVAL CORP COM 143658102 4905 3,4,2 191600 SH DEFINED 191600
CATELLUS DEVELOPMENT CORP COM 149111106 1988 4,2 107724 SH DEFINED 107724
CELESTICA INC SUBVTG SHS 15101Q108 686 3,4,2 49100 SH DEFINED 49100
CELESTICA INC LYONZR 15101QAA6 22918 3,4,2 54185000 PRN DEFINED 307489
CENDANT CORP DEBT 151313AF0 8653 3,4,2 14005000 PRN DEFINED 467767
CENDANT CORP DBCV 151313AH6 2891 3,4,2 3000000 PRN DEFINED 117227
CENDANT CORP DBCV 151313AN3 7460 4,2 8000000 PRN DEFINED 332640
CENDANT CORPORATION COM 151313103 2152 3,4,2 195600 SH DEFINED 195600
CENTEX CORP COM 152312104 887 2 20000 SH DEFINED 20000
CEPHALON INC COM 156708109 1023 3,2 25900 SH DEFINED 25900
CHARLES RIVER DBCV 159863AL3 1789 3,2 1450000 PRN DEFINED 37304
CHARLES RIVER LABORATORIES COM 159864107 1043 3,2 27100 SH DEFINED 27100
CHARTER COMM INC NOTE 16117MAB3 2328 4,2 4800000 PRN DEFINED 222635
CHARTER COMMUNICATIONS-CL A CL A 16117M107 846 4,2 455000 SH DEFINED 455000
CHIRON CORP COM 170040109 1735 3,4,2 49300 SH DEFINED 49300
CHIRON CORP LYONZR 170040AE9 19563 3,4,2 34500000 PRN DEFINED 247065
CISCO SYSTEMS INC COM 17275R102 2568 3,2 245000 SH DEFINED 245000
CIT GROUP INC COM 125581108 5165 4,2 287250 SH DEFINED 287250
CITIGROUP INC COM 172967101 12951 3,4,2 436800 SH DEFINED 436800
CLEAR CHANNEL NOTE 184502AB8 2948 4,2 3000000 PRN DEFINED 48426
CLEAR CHANNEL NOTE 184502AE2 6435 4,2 6500000 PRN DEFINED 61425
CLEAR CHANNEL COMMUNICATIONS COM 184502102 1738 3,2 50000 SH DEFINED 50000
CLEVELAND-CLIFFS INC COM 185896107 407 2 16925 SH DEFINED 16925
CNA SURETY CORPORATION COM 12612L108 362012 4,2,1 27425147 SH DEFINED 27425147
CNF INC COM 12612W104 1159 2 36925 SH DEFINED 36925
COCA COLA CO COM 191216100 1679 3,2 35000 SH DEFINED 35000
COLT TELECOM GROUP-SPONS ADR SPNSADR 196877104 13 4,2 5760 SH DEFINED 5760
COMCAST CORP DBCV 200300BH3 34210 3,4,2 44000000 PRN DEFINED 627290
COMCAST CORP CL A SPL CL A SPL 200300200 2501 4,2 119900 SH DEFINED 119900
COMCAST CORP-CL A CL A 200300101 789 4,2 37000 SH DEFINED 37000
COMMSCOPE INC COM 203372107 361 2 53275 SH DEFINED 53275
COMPUTER ASSOCIATES INTL INC COM 204912109 1614 2 168075 SH DEFINED 168075
COOPER INDUSTRIES LTD CL A. CL A G24182100 859 2 28300 SH DEFINED 28300
CORRECTIONS CORP PFD CV 22025Y308 0 4,2 2 SH DEFINED 2
COX COMMUN INC SDEB 224044AX5 32544 3,4,2 77950000 PRN DEFINED 591703
COX COMMUN INC NOTE 224044BC0 6963 3,4,2 10000000 PRN DEFINED 118135
CSX CORP. COM 126408103 1910 4,2 72400 SH DEFINED 72400
CYTEC INDUSTRIES INC COM 232820100 997 2 45425 SH DEFINED 45425
DARDEN RESTAURANTS INC COM 237194105 291 2 12000 SH DEFINED 12000
DEL MONTE FOODS CO COM 24522P103 297 2 36375 SH DEFINED 36375
DELL COMPUTER CORP COM 247025109 1882 3,2 80000 SH DEFINED 80000
DELPHI FINANCIAL GROUP-CL A CL A 247131105 4647 4,2 127600 SH DEFINED 127600
DILLARDS INC-CL A CL A 254067101 312 2 15450 SH DEFINED 15450
DOMINION RESOURCES INC COM 25746U109 1261 3,4,2 25000 SH DEFINED 25000
DOUBLECLICK NOTE 258609AC0 6521 4,2 7857000 PRN DEFINED 190473
DR HORTON INC COM 23331A109 10986 4,2 590000 SH DEFINED 590000
DU PONT DE NEMOURS E.I. COM 263534109 361 4,2 10000 SH DEFINED 10000
DYCOM INDUSTRIES INC COM 267475101 2070 4,2 225934 SH DEFINED 225934
DYNEGY INC-CL A CL A 26816Q101 8 2 6975 SH DEFINED 6975
EDO CORP COM 281347104 267 3,2 11700 SH DEFINED 11700
EL PASO CORP COM 28336L109 3781 4,2 457200 SH DEFINED 457200
ELDERTRUST COM SH BEN 284560109 1530 4,2 208200 SH DEFINED 208200
ENCANA CORP COM 292505104 2404 4,2 79869 SH DEFINED 79869
ENTERASYS NETWORKS INC COM 293637104 268 2 206150 SH DEFINED 206150
ESTERLINE TECHNOLOGIES CORP COM 297425100 430 2 25825 SH DEFINED 25825
FIFTH THIRD BANCORP COM 316773100 306 2 5000 SH DEFINED 5000
FIRST CITIZENS BCSHS -CL A CL A 31946M103 52 2 500 SH DEFINED 500
FIRST DATA CORP COM 319963104 3354 3,2 120000 SH DEFINED 120000
FLEMING COS INC COM 339130106 310 3,2 62300 SH DEFINED 62300
FLEMING COS INC NOTE 339130AR7 912 3,2 2360000 PRN DEFINED 77965
FMC CORP COM NEW 302491303 1134 2 43925 SH DEFINED 43925
FMC TECHNOLOGIES INC COM 30249U101 945 2 56395.93 SH DEFINED 56395.93
FOOT LOCKER INC COM 344849104 1200 3,2 118600 SH DEFINED 118600
FOOTSTAR INC COM 344912100 301 2 38600 SH DEFINED 38600
FPL GROUP COM 302571104 9214 3,4,2 174000 SH DEFINED 174000
FRANKLIN RES INC NOTE 354613AC5 23458 4,2 40000000 PRN DEFINED 374416
FREDDIE MAC COM 313400301 12522 3,4,2 224000 SH DEFINED 224000
FREEPORT MCMORAN COPPER&GOLD CL B 35671D857 951 2 70625 SH DEFINED 70625
GABLES RESIDENTIAL TRUST SHINT 362418105 369 2 13825 SH DEFINED 13825
GENERAL CABLE CORP COM 369300108 342 2 88950 SH DEFINED 88950
GENERAL ELECTRIC CO COM 369604103 3377 3,2 137000 SH DEFINED 137000
GENERAL MOTORS - CLASS H COM 370442832 1985 4,2 216900 SH DEFINED 216900
GENERAL MOTORS CORP COM 370442105 15717 3,4,2 395000 SH DEFINED 395000
GEORGIA-PACIFIC CORPORATION COM 373298108 500 2 38225 SH DEFINED 38225
GLIMCHER REALTY TRUST SHINT 379302102 804 2 42900 SH DEFINED 42900
GRAFTECH INTERNATIONAL LTD COM 384313102 38 2 5275 SH DEFINED 5275
GREAT LAKES REIT INC COM 390752103 1136 4,2 65000 SH DEFINED 65000
HARRIS CORP COM 413875105 335 2 10000 SH DEFINED 10000
HCA INC COM 404119109 3809 3,2 80000 SH DEFINED 80000
HEALTH CARE PPTYS INVEST INC COM 421915109 1406 4,2 33000 SH DEFINED 33000
HEALTH NET INC COM 42222G108 1227 2 57225 SH DEFINED 57225
HEALTHCARE REALTY TRUST INC COM 421946104 6876 4,2 221100 SH DEFINED 221100
HEALTHSOUTH CORP SDCV 421924AF8 3700 4,2 4000000 PRN DEFINED 109200
HEALTHSOUTH CORP. COM 421924101 2386 4,2 575000 SH DEFINED 575000
HEARST-ARGYLE TELEVISION INC COM 422317107 4099 4,2 165000 SH DEFINED 165000
HEWLETT-PACKARED CO COM 428236103 714 2 61200 SH DEFINED 61200
HOME DEPOT COM 437076102 1644 3,2 63000 SH DEFINED 63000
HONEYWELL INTERNATIONAL INC COM 438516106 1300 3,2 60000 SH DEFINED 60000
HOUSEHOLD INTL INC COM 441815107 4530 4,2 160000 SH DEFINED 160000
IDEC PHARMACEUTICALS CORP COM 449370105 1440 3,4,2 34100 SH DEFINED 34100
IMC GLOBAL INC COM 449669100 804 4,2 66700 SH DEFINED 66700
INCO LTD COM 453258402 583 4,2 36300 SH DEFINED 36300
INCO LTD NOTE 453258AM7 2941 4,2 5000000 PRN DEFINED 132765
INGERSOLL RAND CO CL A G4776G101 1722 4,2 50000 SH DEFINED 50000
INSITUFORM TECHNOLOGIES-CL A CL A 457667103 2009 4,2 140000 SH DEFINED 140000
INSWEB CORPORATION COM 45809K202 156 4,2 87619.5 SH DEFINED 87619.5
INTEL CORP COM 458140100 1100 3,2 79200 SH DEFINED 79200
INTERNATIONAL BUSINESS MACHINE COM 459200101 12128 4,2 208000 SH DEFINED 208000
INTERNATIONAL PAPER CO. COM 460146103 3339 4,2 100000 SH DEFINED 100000
INTERSTATE BAKERIES COM 46072H108 214 2 8050 SH DEFINED 8050
INTL RECTIFIER CORP COM 460254105 208 3,2 12900 SH DEFINED 12900
IONICS INC COM 462218108 4048 4,2 170000 SH DEFINED 170000
IPC HOLDINGS LTD ORD G4933P101 1020 2 34725 SH DEFINED 34725
JOHNSON & JOHNSON COM 478160104 2704 3,2 50000 SH DEFINED 50000
KELLWOOD CO COM 488044108 257 2 11225 SH DEFINED 11225
KENNAMETAL INC COM 489170100 321 2 10000 SH DEFINED 10000
KERR MC GEE CORP COM 492386107 6082 4,2 140000 SH DEFINED 140000
KEYSPAN CORP COM 49337W100 503 4,2 15000 SH DEFINED 15000
KINDRED HEALTHCARE INC COM 494580103 12 4,2 314 SH DEFINED 314
KULICKE & SOFFA NOTE 501242AE1 1073 3,2 2555000 PRN DEFINED 111574
KULICKE & SOFFA INDUSTRIES COM 501242101 229 3,2 78060 SH DEFINED 78060
L-3 COMM HLDGS NOTE 502424AB0 3483 3,2 2400000 PRN DEFINED 58896
L-3 COMMUNICATIONS CORP COM 502424104 4833 3,2 89740 SH DEFINED 89740
LABORATORY CRP OF AMER HLDGS COM NEW 50540R409 4672 3,4,2 137400 SH DEFINED 137400
LAMAR ADVERTISIN NOTE 512815AF8 2692 3,2 2800000 PRN DEFINED 60540
LAMAR ADVERTISING CO CL A 512815101 1201 3,2 39050 SH DEFINED 39050
LEAR CORP COM 521865105 559 2 13425 SH DEFINED 13425
LEHMAN BROS HLDG FRNT 524908EC0 2438 4,2 2500000 PRN DEFINED 26016
LENNOX INTERNATIONAL INC COM 526107107 437 3,2 33050 SH DEFINED 33050
LIBERTY MEDIA COM SER A 530718105 9679 3,4,2 1348048 SH DEFINED 1348048
LINCOLN NATIONAL CORP INDIANA COM 534187109 2750 4,2 90000 SH DEFINED 90000
LOCKHEED MARTIN CORP COM 539830109 3039 3,2 47000 SH DEFINED 47000
LONGVIEW FIBRE CO COM 543213102 397 4,2 57200 SH DEFINED 57200
LOWES COMPANIES NOTE 548661CG0 19476 3,4,2 20000000 PRN DEFINED 344240
LOWE'S COS INC COM 548661107 6915 3,4,2 163300 SH DEFINED 163300
LUBRIZOL CORP COM 549271104 548 2 19375 SH DEFINED 19375
MARATHON OIL CORP COM 565849106 2815 4,2 124125 SH DEFINED 124125
MAXTOR CORP COM 577729205 199 2 76350 SH DEFINED 76350
MBIA INC COM 55262C100 999 4,2 25000 SH DEFINED 25000
MCDONALDS CORP COM 580135101 1408 4,2 79700 SH DEFINED 79700
MEDTRONIC INC COM 585055106 6023 3,2 143000 SH DEFINED 143000
MERRILL LYNCH NOTE 590188A65 14430 3,4,2 28000000 PRN DEFINED 159004
MERRILL LYNCH FRNT 590188A73 34082 3,4,2 36500000 PRN DEFINED 504477
MERRILL LYNCH & CO INC COM 590188108 3595 3,4,2 108600 SH DEFINED 108600
METLIFE INC COM 59156R108 4506 4,2 198000 SH DEFINED 198000
MICROSOFT CORP COM 594918104 2403 3,2 55000 SH DEFINED 55000
MILACRON INC COM 598709103 192 2 42675 SH DEFINED 42675
MIRAMAR MINING CORP. COM 60466E100 2159 4,2 2296406 SH DEFINED 2296406
MONSANTO CO COM 61166W101 2437 4,2 159378 SH DEFINED 159378
MORGAN STANLEY INDIA INVEST COM 61745C105 911 4,2 106466 SH DEFINED 106466
MOTOROLA INC NOTE 620076AJ8 2096 4,2 3000000 PRN DEFINED 100602
MSDW ASIA PACIFIC FUND COM 61744U106 2377 4,2 330190 SH DEFINED 330190
NABORS INDS INC DBCV 629568AF3 7381 4,2 12000000 PRN DEFINED 84894
NABORS INDUSTRIES INC SHS G6359F103 295 2 9000 SH DEFINED 9000
NACCO INDUSTRIES-CL A CL A 629579103 466 2 11700 SH DEFINED 11700
NATIONWIDE FINANCIAL SERV-A CL A 638612101 1335 4,2 50000 SH DEFINED 50000
NEWHALL LAND & FARMING CO-LP DEP REC 651426108 2878 4,2 117000 SH DEFINED 117000
NEWS AMER INC NOTE 652482AZ3 37533 3,4,2 80300000 PRN DEFINED 975508
NEWS CORP LTD -SPONS ADR SPNSADR 652487703 193 4,2 10000 SH DEFINED 10000
NICOR INC COM 654086107 891 4,2 31600 SH DEFINED 31600
NORFOLK SOUTHERN CORP. COM 655844108 11407 4,2 565000 SH DEFINED 565000
NORTH FORK BANCORPORATION COM 659424105 1892 4,2 50000 SH DEFINED 50000
NORTHERN TRUST CORP COM 665859104 1486 4,2 39400 SH DEFINED 39400
OGDEN CORP SDCV 676346AC3 500 4,2 2500000 PRN DEFINED 63976
OLD REPUBLIC INTL CORP COM 680223104 7288 4,2 256800 SH DEFINED 256800
OMNICOM GROUP COM 681919106 3173 3,4,2 56800 SH DEFINED 56800
OMNICOM GROUP NOTE 681919AK2 8768 4,2 9000000 PRN DEFINED 81810
OMNICOM GROUP NOTE 681919AM8 11797 3,4,2 12500000 PRN DEFINED 113625
ON COMMAND CORPORATION- CLASS W EXP 682160122 2 4,2 113266 SH CALL DEFINED 113266
ORACLE CORP COM 68389X105 1312 4,2 166900 SH DEFINED 166900
PACIFICARE HEALTH SYSTEMS COM 695112102 320 2 13875 SH DEFINED 13875
PALL CORP COM 696429307 1579 4,2 100000 SH DEFINED 100000
PATHMARK STORES INC COM 70322A101 6720 4,2 734432 SH DEFINED 734432
PAYLESS SHOESOURCE INC COM 704379106 1316 2 24375 SH DEFINED 24375
PEABODY ENERGY CORP COM 704549104 1785 3,2 70000 SH DEFINED 70000
PEPSI BOTTLING GROUP INC COM 713409100 4680 4,2 200000 SH DEFINED 200000
PEPSICO INCORPORATED COM 713448108 3030 3,2 82000 SH DEFINED 82000
PFIZER INC COM 717081103 4730 3,2 163000 SH DEFINED 163000
PHARMACIA CORPORATION COM 71713U102 1295 4,2 33300 SH DEFINED 33300
PHILLIPS PETROLEUM COMPANY COM 20825C104 4805 4,2 103914 SH DEFINED 103914
PHOENIX COMPANIES INC COM 71902E109 1226 4,2 90000 SH DEFINED 90000
PIONEER STANDARD ELECTRONICS COM 723877106 357 2 49375 SH DEFINED 49375
PLUM CREEK TIMBER CO COM 729251108 1131 4,2 50000 SH DEFINED 50000
PNC FINANCIAL SERVICES GROUP COM 693475105 3766 4,2 89300 SH DEFINED 89300
PPL CORPORATION COM 69351T106 3505 4,2 107700 SH DEFINED 107700
PRECISION DRILLING CORP COM 74022D100 963 2 32000 SH DEFINED 32000
PRESIDENTIAL LIFE CORP COM 740884101 118 2 8225 SH DEFINED 8225
PRIME HOSPITALITY CORP COM 741917108 52 4,2 6375 SH DEFINED 6375
PROCTER & GAMBLE CO COM 742718109 1966 3,2 22000 SH DEFINED 22000
PROSPECT STREET INCOME SHARES COM 743590101 947 4,2 165785.45 SH DEFINED 165785.45
PROVINCE HEALTHC NOTE 743977AC4 1753 3,2 1850000 PRN DEFINED 69957
PROVINCE HEALTHCARE CO COM 743977100 824 3,2 48600 SH DEFINED 48600
PRUDENTIAL FINANCIAL INC COM 744320102 2056 4,2 72000 SH DEFINED 72000
PUBLIC SVC CO N MEX COM COM 69349H107 365 2 18450 SH DEFINED 18450
PUBLIC SVC ENTERPRISE GRP INC COM 744573106 3855 3,4,2 128300 SH DEFINED 128300
PULTE CORP COM 745867101 8355 4,2 196000 SH DEFINED 196000
QUALCOMM INC COM 747525103 1795 3,2 65000 SH DEFINED 65000
QUANTUM CORP-DLT & STORAGE COM DSSG 747906204 262 2 118500 SH DEFINED 118500
QWEST COMMUNICATIONS INTL COM 749121109 255 4,2 111800 SH DEFINED 111800
R.H. DONNELLEY CORP COM 74955W307 445 2 17100 SH DEFINED 17100
RADIAN GROUP INC COM 750236101 670 2 20525 SH DEFINED 20525
REGENERON PHARM NOTE 75886FAB3 3249 4,2 4520000 PRN DEFINED 149415
RELIANT RESOURCES INC COM 75952B105 627 4,2 358500 SH DEFINED 358500
REPUBLIC BANCORP COM 760282103 389 2 29955 SH DEFINED 29955
RESMED INC COM 761152107 415 3,2 14400 SH DEFINED 14400
RESMED INC NOTE 761152AB3 1309 3,2 1450000 PRN DEFINED 23927
RFS HOTEL INVESTORS INC COM 74955J108 468 2 42600 SH DEFINED 42600
SARA LEE CORP COM 803111103 945 2 51650 SH DEFINED 51650
SCANA CORP COM 80589M102 451 4,2 17321 SH DEFINED 17321
SCHLUMBERGER LIMITED COM 806857108 2254 3,2 58600 SH DEFINED 58600
SCHOOL SPECIALTY INC COM 807863105 696 3,2 27370 SH DEFINED 27370
SEALED AIR CORP PFD CV 81211K209 1089 4,2 49500 SH DEFINED 49500
SEMTECH CORP COM 816850101 435 3,2 43100 SH DEFINED 43100
SEMTECH CORP NOTE 816850AD3 1932 3,2 2400000 PRN DEFINED 56832
SENIOR HOUSING PROP TRUST SHINT 81721M109 340 4,2 30300 SH DEFINED 30300
SERVICEMASTER COMPANY COM 81760N109 540 2 49750 SH DEFINED 49750
SHERWIN WILLIAMS CO COM 824348106 543 2 22950 SH DEFINED 22950
SIEBEL SYSTEMS NOTE 826170AC6 1780 4,2 2000000 PRN DEFINED 85777
SIRIUS SATELLITE RADIO INC COM 82966U103 1619 4,2 1619172 SH DEFINED 1619172
SIZELER PROP INV SDCV 830137AB1 1834 4,2 1800000 PRN DEFINED 163636
SK TELECOM CO LTD-ADR SPS ADR 78440P108 5311 4,2 250000 SH DEFINED 250000
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