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The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE
OMB APPROVAL
OMB Number: 3235-0006
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hours per response: 23.8
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
AIRTRAN HLDGS INC NOTE 5.250%11/0 00949PAD0 5,960 2,209,000 PRN   SOLE 2,209,000 0 0
ALZA CORP SDCV 7/2 02261WAB5 15,363 11,950,000 PRN   SOLE 11,950,000 0 0
ARES CAP CORP NOTE 5.125% 6/0 04010LAD5 28,831 28,563,000 PRN   SOLE 28,563,000 0 0
ARES CAP CORP NOTE 4.750% 1/1 04010LAJ2 20,523 20,071,000 PRN   SOLE 20,071,000 0 0
BANK AMER CORP 7.25%CNV PFD L 060505682 9,455 8,795 SH   SOLE 8,795 0 0
CHESAPEAKE ENERGY CORP NOTE 2.500% 5/1 165167CA3 9,524 10,885,000 PRN   SOLE 10,885,000 0 0
CITRIX SYS INC NOTE 0.500% 4/1 177376AD2 19,025 18,044,000 PRN   SOLE 18,044,000 0 0
CSX CORP DBCV 10/3 126408GA5 2,358 825,000 PRN   SOLE 825,000 0 0
DANAHER CORP DEL NOTE 1/2 235851AF9 15,301 6,209,000 PRN   SOLE 6,209,000 0 0
DEVELOPERS DIVERSIFIED RLTY NOTE 1.750%11/1 251591AX1 8,442 7,955,000 PRN   SOLE 7,955,000 0 0
FIDELITY NATIONAL FINANCIAL NOTE 4.250% 8/1 31620RAE5 13,942 7,521,000 PRN   SOLE 7,521,000 0 0
FIFTH STR FIN CORP NOTE 5.375% 4/0 31679BAC4 6,004 5,930,000 PRN   SOLE 5,930,000 0 0
GILEAD SCIENCES INC NOTE 1.625% 5/0 375558AP8 36,207 8,446,000 PRN   SOLE 8,446,000 0 0
ILLUMINA INC NOTE 6/1 452327AF6 36,910 33,650,000 PRN   SOLE 33,650,000 0 0
INTEL CORP SDCV 12/1 458140AD2 56,377 46,425,000 PRN   SOLE 46,425,000 0 0
JEFFERIES GROUP INC NEW DBCV 3.875%11/0 472319AG7 25,180 24,777,000 PRN   SOLE 24,777,000 0 0
LAM RESEARCH CORP NOTE 0.500% 5/1 512807AJ7 28,610 25,305,000 PRN   SOLE 25,305,000 0 0
LAM RESEARCH CORP NOTE 1.250% 5/1 512807AL2 1,856 1,480,000 PRN   SOLE 1,480,000 0 0
MACQUARIE INFRASTRUCTURE COR NOTE 2.875% 7/1 55608BAA3 20,890 18,405,000 PRN   SOLE 18,405,000 0 0
NEWMONT MINING CORP NOTE 1.625% 7/1 651639AJ5 30,757 30,912,000 PRN   SOLE 30,912,000 0 0
NOVELLUS SYS INC NOTE 2.625% 5/1 670008AD3 9,334 4,767,000 PRN   SOLE 4,767,000 0 0
OLD REP INTL CORP NOTE 3.750% 3/1 680223AH7 28,448 24,630,000 PRN   SOLE 24,630,000 0 0
PRICELINE GRP INC NOTE 0.350% 6/1 741503AS5 9,319 7,935,000 PRN   SOLE 7,935,000 0 0
PROSPECT CAPITAL CORPORATION NOTE 5.750% 3/1 74348TAL6 6,155 6,313,000 PRN   SOLE 6,313,000 0 0
PROSPECT CAPITAL CORPORATION NOTE 5.875% 1/1 74348TAM4 18,554 19,327,000 PRN   SOLE 19,327,000 0 0
PROSPECT CAPITAL CORPORATION NOTE 4.750% 4/1 74348TAQ5 8,942 9,935,000 PRN   SOLE 9,935,000 0 0
RPM INTL INC NOTE 2.250%12/1 749685AT0 14,843 13,320,000 PRN   SOLE 13,320,000 0 0
SANDISK CORP NOTE 0.500%10/1 80004CAF8 2,545 2,629,000 PRN   SOLE 2,629,000 0 0
TEVA PHARMACEUTICAL FIN LLC DBCV 0.250% 2/0 88163VAE9 14,147 10,431,000 PRN   SOLE 10,431,000 0 0
TOLL BROS FIN CORP NOTE 0.500% 9/1 88947EAM2 6,253 6,086,000 PRN   SOLE 6,086,000 0 0
WELLPOINT INC NOTE 2.750%10/1 94973VBG1 51,457 27,316,000 PRN   SOLE 27,316,000 0 0
WELLS FARGO & CO NEW PERP PFD CNV A 949746804 22,808 19,536 SH   SOLE 19,536 0 0
XILINX INC NOTE 2.625% 6/1 983919AF8 26,334 17,674,000 PRN   SOLE 17,674,000 0 0
YAHOO INC NOTE 12/0 984332AF3 5,527 5,713,000 PRN   SOLE 5,713,000 0 0