FORM 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: September 30, 2001
Check here if Amendment [ x ]; Amendment Number:2
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.
FORM 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers: 4
Form 13F Information Table Entry Total: 362
Form 13F Information Table Value Total: 1,593,388.7 (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 SH NONE
ACCENTURE LTD CL A G1150G111 6,279 4,2 492500 SH DEFINED 492500
ACME COMMUNICATIONS INC COM 004631107 3,028 3,4,2 432595 SH DEFINED 432595
ADELPHIA COMMUNICATIONS CL A 006848105 8,880 4,2 400000 SH DEFINED 400000
AETNA INC COM 00817Y108 10,279 4,2 355800 SH DEFINED 355800
AFFILIATED COMPUTER SVCS SUB NT CV 008190AF7 2,784 3,2 2400000 PRN DEFINED
AFFILIATED COMPUTER SVCS CL A 008190100 1,465 3,2 18000 SH DEFINED 18000
AGCO CORP COM 001084102 4,039 4,2 446300 SH DEFINED 446300
AGERE SYSTEMS INC-A CL A 00845V100 518 4,2 125000 SH DEFINED 125000
AIR PRODUCTS & CHEMICAL COM 009158106 965 4,2 25000 SH DEFINED 25000
AK STEEL HOLDING CORP COM 001547108 2,525 4,2 298800 SH DEFINED 298800
AKAMAI TECHNOLOGIES COM 00971T101 87 4,2 30000 SH DEFINED 30000
ALCAN INC COM 013716105 600 2 20000 SH DEFINED 20000
ALCOA INC COM 013817101 7,628 3,4,2 246000 SH DEFINED 246000
ALLEGHENY ENERGY INC COM 017361106 1,149 4,2 31300 SH DEFINED 31300
ALLMERICA FINANCIAL CORP COM 019754100 673 4,2 15000 SH DEFINED 15000
ALLTEL CORP COM 020039103 9,011 4,2 155500 SH DEFINED 155500
ALPHARMA INC SR SB NT CV 020813AD3 1,385 3,2 1250000 PRN DEFINED
ALPHARMA INC CL A 020813101 854 3,2 29640 SH DEFINED 29640
AMBAC FINANCIAL GROUP INC COM 023139108 4,924 4,2 90000 SH DEFINED 90000
AMERADA HESS COM 023551104 6,985 4,2 110000 SH DEFINED 110000
AMERICA WEST HOLDINGS CL B 023657208 20 2 10825 SH DEFINED 10825
AMERICAN EXPRESS COM 025816109 9,113 3,4,2 313600 SH DEFINED 313600
AMERICAN INTL GROUP INC COM 026874107 3,798 3,4,2 48690 SH DEFINED 48690
AMERICAN NATIONAL INSURANCE COM 028591105 109 2 1350 SH DEFINED 1350
AMERICAN PHYSICIANS CAP INC COM 028884104 157 2 7575 SH DEFINED 7575
AMERISOURCEBERGEN CORP COM 03073E105 2,917 3,2 41110 SH DEFINED 41110
AMKOR TECHNOLOGY INC COM 031652100 947 4,2 90000 SH DEFINED 90000
ANADARKO PETROLEUM CORP COM 032511107 7,801 4,2 162250 SH DEFINED 162250
ANHEUSER BUSCH CO COM 035229103 2,094 3,2 50000 SH DEFINED 50000
ANIXTER INTERNATIONAL INC COM 035290105 101 2 4075 SH DEFINED 4075
ANNTAYLOR STORES CORP COM 036115103 69 2 3150 SH DEFINED 3150
AOL TIME WARNER COM 00184A105 2,118 3,2 64000 SH DEFINED 64000
AON CORP COM 037389103 22,890 4,2 545000 SH DEFINED 545000
APACHE CORP COM 037411105 1,075 3,4,2 25000 SH DEFINED 25000
APPLIED MATERIALS INC. COM 038222105 2,417 3,2 85000 SH DEFINED 85000
ARGUSS COMMUNICATIONS INC COM 040282105 1,593 3,4,2 677874 SH DEFINED 677874
ARRIS GROUP COM 04269Q100 143 3,4,2 40000 SH DEFINED 40000
ARVINMERITOR INC COM 043353101 107 2 7475 SH DEFINED 7475
AT & T CORPORATION COM 001957109 14,186 4,2 735000 SH DEFINED 735000
AT HOME CORP SB DB CV 045919AC1 315 4,2 3000000 PRN DEFINED
AT HOME CORP SUB NT CV 045919AF4 5,525 3,4,2 32500000 PRN DEFINED
AT&T WIRELESS SERVICES INC COM 00209A106 8,202 4,2 548993.4 SH DEFINED 548993.4
ATLAS AIR WORLDWIDE HLDGS COM 049164106 1,088 4,2,1 110500 SH DEFINED 110500
BANK OF NEW YORK COM 064057102 1,750 4,2 50000 SH DEFINED 50000
BANK ONE CORP COM 06423A103 9,441 4,2 300000 SH DEFINED 300000
BARNES & NOBLE SUB NT CV 067774AC3 3,247 3,2 2450000 PRN DEFINED
BARNES & NOBLE INC COM 067774109 2,234 3,2 61880 SH DEFINED 61880
BAYCORP HOLDINGS LTD COM 072728108 3,308 3,2 386442 SH DEFINED 386442
BEA SYSTEMS INC COM 073325102 1,466 3,2 152900 SH DEFINED 152900
BEA SYSTEMS INC SB NT CV 073325AD4 1,704 3,2 2350000 PRN DEFINED
BEAR STEARNS COMPANIES INC COM 073902108 2,000 4,2 40000 SH DEFINED 40000
BED BATH & BEYOND INC COM 075896100 382 3,2 15000 SH DEFINED 15000
BELLSOUTH CORP COM 079860102 2,909 4,2 70000 SH DEFINED 70000
BETHLEHEM STEEL CORP COM 087509105 712 4,2 556100 SH DEFINED 556100
BOEING COMPANY COM 097023105 6,481 4,2 193450 SH DEFINED 193450
BORG WARNER AUTOMOTIVE INC COM 099724106 86 2 2125 SH DEFINED 2125
BOWATER INC COM 102183100 2,280 4,2 51800 SH DEFINED 51800
BOWNE & CO INC COM 103043105 109 2 10700 SH DEFINED 10700
BRISTOL-MYERS SQUIBB CO COM 110122108 5,000 4,2 90000 SH DEFINED 90000
BROADWING INC PFD CV DEP 111620407 400 3,2 10000 SH DEFINED 10000
BUCKHEAD AMERICA CORP COM 11835A105 19 4,2 21579 SH DEFINED 21579
BURLINGTON RESOURCES INC COM 122014103 4,789 4,2 140000 SH DEFINED 140000
CABLEVISION SYSTEMS CL A 12686C109 602 4,2 14700 SH DEFINED 14700
CABOT OIL & GAS CORP CL A 127097103 998 4,2 50000 SH DEFINED 50000
CALPINE CORPORATION COM 131347106 6,889 3,4,2 302000 SH DEFINED 302000
CANADIAN PACIFIC LTD COM 135923100 1,605 3,2 50000 SH DEFINED 50000
CARDINAL HEALTH INC. COM 14149Y108 4,765 3,2 64437 SH DEFINED 64437
CATELLUS DEVELOPMENT CORP COM 149111106 1,883 4,2 107724 SH DEFINED 107724
CATERPILLAR INC COM 149123101 896 4,2 20000 SH DEFINED 20000
CBRL GROUP INC COM 12489V106 901 2 41025 SH DEFINED 41025
CELESTICA INC SUBVTGSHS 15101Q108 3,191 3,4,2 117100 SH DEFINED 117100
CELESTICA INC LYONZR 15101QAA6 12,613 3,4,2 34380000 PRN DEFINED
CENDANT CORPORATION COM 151313103 2,351 3,4,2 183700 SH DEFINED 183700
CENTEX CORP COM 152312104 438 2 13000 SH DEFINED 13000
CHIRON CORP COM 170040109 6,971 3,4,2 157100 SH DEFINED 157100
CHIRON CORP LYONZ R 170040AD1 30,111 3,4,2 54500000 PRN DEFINED
CHUBB CORP COM 171232101 1,335 2 18700 SH DEFINED 18700
CISCO SYSTEMS INC COM 17275R102 2,436 3,2 200000 SH DEFINED 200000
CITIGROUP INC COM 172967101 8,708 3,4,2 215000 SH DEFINED 215000
CLEAR CHANNEL COMM COM 184502102 1,988 3,2 50000 SH DEFINED 50000
CLEVELAND-CLIFFS INC COM 185896107 215 4,2 14950 SH DEFINED 14950
CMS ENERGY ADJ CV TR 125896308 305 3,2 10000 SH DEFINED 10000
CNA SURETY CORPORATION COM 12612L108 371,611 4,2,1 27425147 SH DEFINED 27425147
CNF INC COM 12612W104 798 2 34975 SH DEFINED 34975
COLT TELECOM GROUP ADR 196877104 14 4,2 3000 SH DEFINED 3000
COMCAST CORP CL A SPL 200300200 4,304 3,2 120000 SH DEFINED 120000
COMMUNICATION INTELLIGENCE COM 20338K106 462 3,2 660000 SH DEFINED 660000
COMPAQ COMPUTER CORP COM 204493100 3,781 4,2 455000 SH DEFINED 455000
COMPUTER ASSOCIATES INTL INC COM 204912109 910 2 35350 SH DEFINED 35350
CONOCO INC-CL A CL A 208251306 2,289 4,2 90000 SH DEFINED 90000
CONSTELLATION ENERGY GROUP COM 210371100 3,146 4,2 130000 SH DEFINED 130000
COOPER INDUSTRIES INCORPORATE COM 216669101 930 2 22425 SH DEFINED 22425
CORN PRODUCTS INTL INC COM 219023108 3,815 4,2 132800 SH DEFINED 132800
CORNING INC. COM 219350105 79 4,2 9000 SH DEFINED 9000
CORRECTIONS CORP PFD CV B 22025Y308 1 4,2 101 SH DEFINED 101
COX COMMUNICATIONS INC CL A 224044107 2,593 3,4,2 62100 SH DEFINED 62100
CROWN CORK & SEAL CO INC. COM 228255105 1,336 4,2 583600 SH DEFINED 583600
CVS CORP COM 126650100 1,992 3,2 60000 SH DEFINED 60000
CYTEC INDUSTRIES INC COM 232820100 364 2 15725 SH DEFINED 15725
D.R. HORTON INC COM 23331A109 6,884 4,2 330000 SH DEFINED 330000
DEERE & CO COM 244199105 1,692 4,2 45000 SH DEFINED 45000
DEL MONTE FOODS CO COM 24522P103 1,952 4,2 253450 SH DEFINED 253450
DELL COMPUTER CORP COM 247025109 741 3,2 40000 SH DEFINED 40000
DELPHI AUTOMOTIVE SYSTEMS COM 247126105 1,495 4,2 127200 SH DEFINED 127200
DELPHI FINANCIAL GROUP CL A 247131105 3,718 4,2 110000 SH DEFINED 110000
DILLARDS INC-CL A CL A 254067101 101 2 7700 SH DEFINED 7700
DOLLAR THRIFTY AUTOMOTIVE COM 256743105 1,144 2 115000 SH DEFINED 115000
DOW CHEMICAL CORP COM 260543103 2,948 4,2 90000 SH DEFINED 90000
DU PONT DE NEMOURS E.I. COM 263534109 1,313 4,2 35000 SH DEFINED 35000
EAST-WEST BANCORP INC. COM 27579R104 22,628 4,2 967420 SH DEFINED 967420
EATON VANCE CORP COM NONVTG 278265103 922 3,4,2 29400 SH DEFINED
ECHOSTAR COMM SUB NT CV 278762AB5 471 3,2 590000 PRN DEFINED
ECHOSTAR COMMUNICATIONS CL A 278762109 249 3,2 10685 SH DEFINED 10685
EL PASO CORP COM 28336L109 4,579 4,2 110200 SH DEFINED 110200
ELDERTRUST COM SH BEN 284560109 1,487 4,2 208200 SH DEFINED 208200
ELECTRONIC DATA SYSTEMS COM 285661104 18,489 4,2 321100 SH DEFINED 321100
ENCOMPASS SERVICES CORP COM 29255U104 150 4,2 39800 SH DEFINED 39800
ENERGY EAST CORPORATION COM 29266M109 2,723 4,2 135400 SH DEFINED 135400
ENGEL GENERAL DEVELOPERS ORD M40515104 466 4,2 120000 SH DEFINED 120000
ENRON CORP COM 293561106 2,110 3,2 77500 SH DEFINED 77500
EQUITY OFFICE PROPERTIES TR COM 294741103 320 3,2 10000 SH DEFINED 10000
ESTERLINE TECHNOLOGIES CORP COM 297425100 69 2 4350 SH DEFINED 4350
EXCITE@HOME SB NT CV 045919AD9 3,485 3,4,2 20500000 PRN DEFINED
EXELON CORP COM 30161N101 1,561 4,2 35000 SH DEFINED 35000
FEDERATED DEPART STORES INC COM 31410H101 4,512 4,2 160000 SH DEFINED 160000
FIRST CENTRAL FINANCIAL SUB DEB CV 318908AA8 161 3,2,1 1612000 PRN DEFINED
FIRST CITIZENS BCSHS CL A 31946M103 42 2 500 SH DEFINED 500
FIRST DATA CORP COM 319963104 3,787 3,2 65000 SH DEFINED 65000
FIRSTENERGY CORP COM 337932107 3,595 4,2 100000 SH DEFINED 100000
FLEMING COS INC COM 339130106 1,838 3,2 62300 SH DEFINED 62300
FMC CORP (NEW) COM NEW 302491303 6,633 4,2 135400 SH DEFINED 135400
FMC TECHNOLOGIES INC COM 30249U101 196 2 17000 SH DEFINED 17000
FORTUNE BRANDS INC COM 349631101 863 2 25750 SH DEFINED 25750
FREDDIE MAC COM 313400301 2,990 3,2 46000 SH DEFINED 46000
FREEPORT MCMORAN COPPER&GOLD CL B 35671D857 630 2 57350 SH DEFINED 57350
FRONTLINE LTD. ORD G3682E127 2,267 4,2 250000 SH DEFINED 250000
GABLES RESIDENTIAL TRUST SH BEN INT 362418105 161 2 5250 SH DEFINED 5250
GEN SEMICONDUCTR SUB NT CV 370787AB9 983 3,2 1000000 PRN DEFINED
GENENTECH INC COM 368710406 1,716 3,2 39000 SH DEFINED 39000
GENERAL ELECTRIC CO COM 369604103 8,519 3,4,2 229000 SH DEFINED 229000
GENERAL MOTORS CORP CL H 370442832 2,599 4,2 195000 SH DEFINED 195000
GENERAL SEMICONDUCTOR INC COM 370787103 412 3,2 42900 SH DEFINED 42900
GENUITY INC CL A 37248E103 39 4,2 25000 SH DEFINED 25000
GEORGIA-PACIFIC (TIMBER GRP) COM 373298702 1,268 4,2 35000 SH DEFINED 35000
GEORGIA-PACIFIC CORPORATION COM 373298108 575 2 19975 SH DEFINED 19975
GLIMCHER REALTY TRUST SH BEN INT 379302102 139 2 8575 SH DEFINED 8575
GOLD STANDARD INC COM 380724302 99 4,2 82812.5 SH DEFINED 82812.5
HANOVER COMPRESS SR NT CV 410768AC9 2,025 3,2 2400000 PRN DEFINED
HANOVER COMPRESSOR CO COM 410768105 840 3,2 38800 SH DEFINED 38800
HAYES LEMMERZ INTL INC COM COM 420781106 274 3,2 273800 SH DEFINED 273800
HCA INC COM 404119109 3,545 3,2 80000 SH DEFINED 80000
HEALTH CARE PPTYS INVEST INC COM 421915109 2,461 4,2 64000 SH DEFINED 64000
HEALTH NET INC COM 42222G108 1,100 2 57225 SH DEFINED 57225
HEALTHCARE REALTY TRUST INC COM 421946104 6,144 4,2 240925 SH DEFINED 240925
HEALTHSOUTH CORP SB DBCV 421924AF8 3,800 4,2 4000000 PRN DEFINED
HEALTHSOUTH CORP. COM 421924101 9,764 4,2 600500 SH DEFINED 600500
HEARST-ARGYLE TELEVISION INC COM 422317107 4,198 4,2 239900 SH DEFINED 239900
HERBALIFE INTERNATIONAL CL B 426908307 85 2 8925 SH DEFINED 8925
HERCULES INC COM 427056106 3,168 4,2 384050 SH DEFINED 384050
HEWLETT-PACKARD CO. COM 428236103 6,867 4,2 427875 SH DEFINED 427875
HILTON HOTELS CORP COM 432848109 4,749 4,2 605000 SH DEFINED 605000
HOME DEPOT COM 437076102 1,727 3,2 45000 SH DEFINED 45000
HONEYWELL INTERNATIONAL INC COM 438516106 2,508 3,4,2 95000 SH DEFINED 95000
HOUSEHOLD INTL INC COM 441815107 2,819 4,2 50000 SH DEFINED 50000
IBP INC COM 449223106 24 2 994 SH DEFINED 994
IMC GLOBAL INC COM 449669100 955 4,2 106100 SH DEFINED 106100
INGERSOLL RAND CO COM 456866102 1,352 4,2 40000 SH DEFINED 40000
INSWEB CORPORATION COM 45809K103 529 4,2 1149117 SH DEFINED 1149117
INTEL CORP COM 458140100 1,411 3,2 69200 SH DEFINED 69200
INTL BUSINESS MACHINE COM 459200101 19,420 3,4,2 210400 SH DEFINED 210400
INTERNATIONAL PAPER CO. COM 460146103 3,484 4,2 100000 SH DEFINED 100000
INTERSTATE BAKERIES COM 46072H108 168 2 6600 SH DEFINED 6600
INTL RECTIFIER SUB NT CV 460254AD7 1,125 3,2 1465000 PRN DEFINED
INTL RECTIFIER CORP COM 460254105 414 3,2 15200 SH DEFINED 15200
ISPAT INTL NV NY REG CL A 464899103 550 4,2 275000 SH DEFINED 275000
IVAX CORP COM 465823102 1,477 3,2 66625 SH DEFINED 66625
IVAX CORP SR SB CV 465823AB8 2,493 3,2 2400000 PRN DEFINED
J.P. MORGAN CHASE & CO. COM 46625H100 1,025 4,2 30000 SH DEFINED 30000
JOY GLOBAL INC COM 481165108 1,559 4,2 105000 SH DEFINED 105000
KELLWOOD CO COM 488044108 119 2 6450 SH DEFINED 6450
KENNAMETAL INC COM 489170100 113 2 3525 SH DEFINED 3525
KERR MC GEE CORP COM 492386107 7,267 4,2 140000 SH DEFINED 140000
KEY3MEDIA GROUP COM 49326R104 29 2 7225 SH DEFINED 7225
KEYSPAN CORPORATION COM 49337W100 7,811 4,2 235000 SH DEFINED 235000
KIMBERLY CLARK COM 494368103 1,860 3,2 30000 SH DEFINED 30000
KMART FINANCING PFD TRCV 498778208 1,116 4,2 30000 SH DEFINED 30000
KROGER COMPANY COM 501044101 11,807 3,4,2 479200 SH DEFINED 479200
KULICKE & SOFFA SUB NT CV 501242AE1 2,562 3,2 3450000 PRN DEFINED
KULICKE & SOFFA INDUSTRIES COM 501242101 1,313 3,2 120500 SH DEFINED 120500
L-3 COMM HLDGS SR SB CV 502424AA2 3,063 3,2 2400000 PRN DEFINED
L-3 COMMUNICATIONS CORP COM 502424104 2,044 3,2 23370 SH DEFINED 23370
LABORATORY CRP AMER HLDGS COM 50540R409 6,436 3,4,2 79600 SH DEFINED 79600
LAM RESEARCH CORP COM 512807108 741 3,2 43730 SH DEFINED 43730
LAMAR ADVERTISIN NT CV 512815AF8 2,403 3,2 2550000 PRN DEFINED
LAMAR ADVERTISING CO CL A 512815101 1,170 3,2 38600 SH DEFINED 38600
LATTICE SEMICOND SUB NT CV 518415AC8 2,484 3,2 2450000 PRN DEFINED
LATTICE SEMICONDUCTOR CORP COM 518415104 1,578 3,2 100500 SH DEFINED 100500
LEAR CORPORATION COM 521865105 1,210 2 44800 SH DEFINED 44800
LEGG MASON INC COM 524901105 3,769 3,4,2 94800 SH DEFINED 94800
LIBERTY MEDIA COM SERA 530718105 6,833 3,2 538048 SH DEFINED 538048
LIBERTY PROPERTY TRUST SH BEN INT 531172104 2,869 4,2 100000 SH DEFINED 100000
LILLY (ELI) & CO. COM 532457108 3,623 3,2 44900 SH DEFINED 44900
LINCOLN NATIONAL CORP INDIANA COM 534187109 699 4,2 15000 SH DEFINED 15000
LOCAL FINANCIAL CORP COM 539553107 17,519 4,2 1310300 SH DEFINED 1310300
LONGVIEW FIBRE CO COM 543213102 1,414 4,2 140000 SH DEFINED 140000
LORAL SPACE & COMMUNICATIONS COM G56462107 246 4,2 189400 SH DEFINED 189400
LSI CORP COM 502161102 1,242 3,2 105700 SH DEFINED 105700
LSI LOGIC SB NT CV 502161AD4 1,994 3,2 1950000 PRN DEFINED
LUBRIZOL CORP COM 549271104 992 2 31400 SH DEFINED 31400
LUCENT TECH PFD CV 549463206 24,630 3,4,2 24000 SH DEFINED 24000
LUCENT TECHNOLOGIES COM 549463107 9,741 3,4,2 1700000 SH DEFINED 1700000
MARRIOTT INTERNATIONAL- CL A CL A 571903202 541 4,2 16200 SH DEFINED 16200
MARRIOTT INTL LYONZR 571903AA1 8,118 4,2 9700000 PRN DEFINED
MEDICALOGIC/MEDSCAPE INC COM 584642102 410 4,2 1077800 SH DEFINED 1077800
MEDTRONIC INC COM 585055106 5,786 3,2 133000 SH DEFINED 133000
MERRILL LYNCH & CO INC COM 590188108 158 3,4,2 3900 SH DEFINED 3900
METLIFE INC COM 59156R108 5,821 4,2 196000 SH DEFINED 196000
MICROSOFT CORP COM 594918104 3,173 3,4,2 62000 SH DEFINED 62000
MILACRON INC COM 598709103 70 2 5875 SH DEFINED 5875
MIRANT CORPORATION COM 604675108 263 3,2 12000 SH DEFINED 12000
MOLEX - CLASS A NON-VOTING CL A 608554200 2,114 3,2 86993 SH DEFINED 86993
MONSANTO CO COM 61166W101 564 2 16725 SH DEFINED 16725
MSDW ASIA PACIFIC FUND COM 61744U106 1,243 4,2 197348 SH DEFINED 197348
MSDW INDIA INVESTMENT FUND COM 61745C105 392 4,2 53026 SH DEFINED 53026
NABORS INDUSTRIES INC COM 629568106 189 3,2 9000 SH DEFINED 9000
NACCO INDS INC CL A CL A 629579103 93 2 1675 SH DEFINED 1675
NATIONWIDE FINANCIAL SERV-A CL A 638612101 930 4,2 25000 SH DEFINED 25000
NEIMAN MARCUS GROUP -CL B CL B 640204301 2,342 4,2 98800 SH DEFINED 98800
NEWHALL LAND & FARMING CO DEPREC 651426108 2,537 4,2 89500 SH DEFINED 89500
NEWMONT MINING CORP COM 651639106 1,062 4,2 45000 SH DEFINED 45000
NEWS CORP LTD ADR 652487703 3,374 4,2 140000 SH DEFINED 140000
NEWS CORP LTD ADR PFD 652487802 10,353 3,4,2 486300 SH DEFINED 486300
NIAGARA MOHAWK HOLDINGS INC COM 653520106 3,338 4,2 196700 SH DEFINED 196700
NOKIA CORP ADR 654902204 783 3,2 50000 SH DEFINED 50000
NORFOLK SOUTHERN CORP. COM 655844108 10,478 4,2 650000 SH DEFINED 650000
NORTEL NETWORKS CORP COM 656568102 5,189 4,2 925000 SH DEFINED 925000
NORTH FORK BANCORPORATION COM 659424105 4,461 4,2 150000 SH DEFINED 150000
NORTHERN TRUST CORP COM 665859104 7,410 4,2 141200 SH DEFINED 141200
NOVELLUS SYSTEMS LYONZR 670008AA9 21,594 3,4,2 25000000 PRN DEFINED
NOVELLUS SYSTEMS INC COM 670008101 914 3,4,2 32000 SH DEFINED 32000
NRG ENERGY INC COM 629377102 892 4,2 55000 SH DEFINED 55000
OCEAN ENERGY INC COM 67481E106 791 2 48500 SH DEFINED 48500
OFFICEMAX INC COM 67622M108 153 4,2 50000 SH DEFINED 50000
OGE ENERGY CORP COM 670837103 1,734 4,2 79300 SH DEFINED 79300
OLD REPUBLIC INTL CORP COM 680223104 5,944 4,2 226800 SH DEFINED 226800
OMNICOM GROUP COM 681919106 182 3,4,2 2800 SH DEFINED 2800
ON COMMAND CORPORATION COM 682160106 772 3,4,2 352480 SH DEFINED 352480
ON COMMAND CORPORATION WT B 682160122 39 3,4,2 123130 SH CALL DEFINED
ORACLE CORP COM 68389X105 1,510 4,2 120000 SH DEFINED 120000
OVERSEAS SHIPHOLDING GROUP COM 690368105 2,779 4,2 126300 SH DEFINED 126300
OWENS-ILL INC PFD CONV 690768502 275 4,2 20500 SH DEFINED 20500
PACIFIC CENTURY FINL CORP COM 694058108 982 2 42000 SH DEFINED 42000
PALL CORP COM 696429307 2,723 4,2 140000 SH DEFINED 140000
PATHMARK STORES INC COM 70322A101 18,134 4,2 761932 SH DEFINED 761932
PAYLESS SHOESOURCE INC COM 704379106 1,269 2 23150 SH DEFINED 23150
PEABODY ENERGY CORP COM 704549104 1,928 3,2 80000 SH DEFINED 80000
PEPSI BOTTLING GROUP INC COM 713409100 4,607 4,2 100000 SH DEFINED 100000
PEPSICO INCORPORATED COM 713448108 3,977 3,2 82000 SH DEFINED 82000
PFIZER INC COM 717081103 5,333 3,2 133000 SH DEFINED 133000
PHILLIPS PETROLEUM COMPANY COM 718507106 2,832 4,2 52500 SH DEFINED 52500
PHOENIX COMPANIES INC COM 71902E109 3,107 4,2 215000 SH DEFINED 215000
PLACER DOME INC COM 725906101 2,544 4,2 198930 SH DEFINED 198930
POTASH CORP OF SASKATCHEWAN COM 73755L107 3,224 4,2 57900 SH DEFINED 57900
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POTOMAC ELECTRIC POWER COM 737679100 4,620 4,2 210400 SH DEFINED 210400
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