13F-HR 1 g84473e13fvhr.txt OTTER CREEK MANAGEMENT, INC. 13F-HR UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 13F FORM 13F COVER PAGE Report for the Calendar Year or Quarter Ended: 6-30-03 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: Otter Creek Management, Inc. Address: 400 Royal Palm Way Suite 212 Palm Beach, FL 33480 Form 13F File Number: 28-______ 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: Joseph W. O'Neill, Jr. Title: Chief Financial Officer Phone: 561-832-4110 Signature, Place, and Date of Signing: /s/ J. W. O'Neill, Jr. Palm Beach, FL 8-12-03 ------------------------ ---------------------- ------------ [Signature] [City, State] [Date]
Report Type (Check only one): [X] 13F HOLDINGS REPORT. (Check here if all holdings of this reporting manager are reported in this report.) [ ] 13F NOTICE. (Check here if no holdings reported are in this report, and all holdings are reported by other reporting manager(s).) [ ] 13F COMBINATION REPORT. (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).) List of Other Managers Reporting for this Manager: [If there are no entries in this list, omit this section.] Form 13F File Number Name 28- ------------------- --------------------------------- [Repeat as necessary.]
FORM 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 0 ----------- Form 13F Information Table Entry Total: 139 ----------- Form 13F Information Table Value Total: 237,274 ----------- (thousands) List of Other Included Managers: Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report. [If there are no entries in this list, state "NONE" and omit the column headings and list entries.] No. Form 13F File Number Name 28- NONE ---- ------------------- --------------------------------- [Repeat as necessary.]
Otter Creek Management PORTFOLIO APPRAISAL 31-Jul-03 FOR M 13F SUMMARY PAGE Report Summary: Number of other Included Managers: 0 Form 13F Information Table Entry Total: 139 Form 13F Information Table Value Total: 237,274 FORM 13F INFORMATION TABLE
NAME OF ISSUER TITLE OF CLASS CUSIP ------------------------------------------------------------- -------------------- --------- 3COM CORP COM COMMON STOCK 885535104 ABERDEEN ASIA PACIFIC INCOME FUND INC MUTUAL FUNDS - LONG 003009107 ACTIVISION INC NEW COMMON STOCK 004930202 AMAZON COM INC CONV SUB NTS CONVERTIBLE BONDS 023135af3 AMDOCS LTD CONV CONVERTIBLE BONDS 02342tab5 AMERICAN INTL GROUP CONVERTIBLE BONDS 026874an7 ANALOG DEVICES INC SUB NT CONV4.750% 10/01/2005 DD 10/02/00 CONVERTIBLE BONDS 032654AD7 APPLE COMPUTER INC6.500% 02/15/2004 CORPORATE BONDS 037833AA8 APPLIED FILMS CORP COM COMMON STOCK 038197109 ARTESYN TECHNOLOGIES INC COMMON STOCK 043127109 ATARI INC COMMON STOCK 04651m105 AVIRON CONV SUB NT CONVERTIBLE BONDS 053762ad2 AXCELIS TECHNOLOGIES INC COMMON STOCK 054540109 BANK OF CAROLINAS MOCKSVILLE NORTH CAROLIN COMMON STOCK 06423t102 BAXTER INTERNATIONAL INC 7.00% PFD DUE 2/1 CONVERTIBLE PREFERRED 071813406 BEI TECHNOLOGIES INC COMMON STOCK 05538p104 BENTON OIL & GAS CO SR NOTE CORPORATE BONDS 083288ae0 BIOMET INC COMMON STOCK 090613100 BLACKROCK INSURED MUNICIPAL 2008 TERM TRUS MUTUAL FUNDS - LONG 09247k109 BROCADE COMMUNICATIONS SYSTEM INC CONV SUB NOTE CONVERTIBLE BONDS 111621ab4 BURLINGTON RESOURCES INC COMMON STOCK 122014103 CABLE & WIRELESS PLC SPONSORED ADR AMERICAN DEPOSITORY RECEIPTS 126830207 CELERITEK INC COMMON STOCK 150926103 CELESTICA INC LIQUID YIELD OPT NT CONVERTIBLE BONDS 15101qaa6 CENUCO INC COMMON STOCK 15670x104 CHUBB CORP COMMON STOCK 171232101 CIENA CORP CONV NT CONVERTIBLE BONDS 171779AA9 CISCO SYSTEMS INC COMMON STOCK 17275r102 CLARENT CORP COMMON STOCK 180461105 COASTAL CORP CORPORATE BONDS 190441am7 COMVERSE TECHNOLOGY INC CVT1.500% 12/01/2005 DD 11/22/00 CONVERTIBLE BONDS 205862AJ4 CORNING INC CONV DEBS CONVERTIBLE BONDS 219350aj4 COVAD COMMUNICATIONS GROUP INC COM COMMON STOCK 222814204 CROSS COUNTRY HEALTHCARE INC COMMON STOCK 227483104 DELPHI CORP COMMON STOCK 247126105 DEVON ENERGY CORPORATION NEW SR DEB CONV ZERO CPN CONVERTIBLE BONDS 25179MAD5 DIAMONDS TRUST-UNIT SERIES 1 COMMON STOCK 252787106 DISNEY WALT CO COM DISNEY COMMON STOCK 254687106 DRUGSTORE COM INC COM COMMON STOCK 262241102 ENERGY FACTORS CV S/D-REG CONVERTIBLE BONDS 292667ab8 ENTEGRIS INC COMMON STOCK 29362U104 EXTREME NETWORKS CVT 144A3.500% 12/01/2006 DD 12/05/01 CONVERTIBLE BONDS 30226DAA4 EXTREME NETWORKS INC NT CVT3.500% 12/01/2006 DD 12/05/01 CONVERTIBLE BONDS 30226DAB2 FARGO ELECTRONICS INC COM COMMON STOCK 30744p102 FINANCIAL INDS CORP COMMON STOCK 317574101 FLEXTRONICS INTERNATIONAL LTD COMMON STOCK y2573f102 FLOW INTL INC COMMON STOCK 343468104 FREEPORT MCMORAN COPPER & GOLD INC-DEP SHS PREFERRED STOCK 35671d600 FREEPORT-MCMORAN COPPER & GOLDDEP SH REP 0 CONVERTIBLE PREFERRED 35671D501 FSI INTL INC COMMON STOCK 302633102 GATX CORP COM COMMON STOCK 361448103 GENERAL MOTORS CORP-CL H NEW COMMON STOCK 370442832 GENUS INC COMMON STOCK 372461103 GLOBAL CROSSING GBLXQ 9.125% 11/15/2006 DEFAULTED CORPORATE BONDS 37931KAG6 GLOBAL CROSSING HLDG LTD SR NT GBLXQ 8.7% 08/01/2007 DEFAULTED CORPORATE BONDS 37931kal5 GLOBAL CROSSING HLDGS LTD SENIOR NOTES DEFAULTED CORPORATE BONDS 37931kab7 GREAT LAKES CHEMICAL CORP COMMON STOCK 390568103 GREAT PLAINS ENERGY INC COM COMMON STOCK 391164100 HARBOR GLOBAL COMPANY LTD LIMITED PARTNERSHIPS - LONG g4285w100 HORIZON BANCORP-IND COMMON STOCK 440407104 HYPERION 2005 INVESTMENT GRADE OPPORTUNITY MUTUAL FUNDS - LONG 448918102 INFOCUS CORP COM COMMON STOCK 45665B106 INTEGRATED DEVICE TECH INC COMMON STOCK 458118106 INTERNAP NETWORK SVCS CORP COM COMMON STOCK 45885A102 INTERNATIONAL RECTIFIER CORP SUB NT CONV CONVERTIBLE BONDS 460254AE5 ISHARESTRUST 20+YR TREASURY INDEX FUND MUTUAL FUNDS - LONG 464287432 KERR MCGEE CORP DECS % EXCHANGEABLE INTO C PREFERRED STOCK 492386305 KINDRED HEALTHCARE INC COMMON STOCK 494580103 LAM RESEARCH CONV SUB NT CONVERTIBLE BONDS 512807ae8 LIBERTY MEDIA CORP SER A NEW COMMON STOCK 530718105 LONE STAR TECHNOLOGIES INC SR SUB NT SER-B CORPORATE BONDS 542312AB9 LTX CORP CONV SUB NTE CONVERTIBLE BONDS 502392ae3 MAD CATZ INTERACTIVE INC COMMON STOCK 556162105 MAGNETEK INC COMMON STOCK 559424106 MAVERICK TUBE CORP COM COMMON STOCK 577914104 MAXIM INTEGRATED PRODUCTS INC COMMON STOCK 57772k101 MCDATA CORP CL B COMMON STOCK 580031102 MERCURY INTERACTIVE CORP SUB NT CONV CONVERTIBLE BONDS 589405ab5 MFS GOVERNMENT MARKETS INCOME TRUST-SBI MUTUAL FUNDS - LONG 552939100 MICROSOFT CORP COMMON STOCK 594918104 MONROE BANCORP-IND COMMON STOCK 610313108 MOTOROLA INC SUB LIQUID YLD OPT NOTE ZERO CONVERTIBLE BONDS 620076aj8 NATIONAL SEMICONDUCTOR CORPCOM COMMON STOCK 637640103 NATIONAL-OILWELL INC COMMON STOCK 637071101 NATUZZI SPA ADR AMERICAN DEPOSITORY RECEIPTS 63905a101 NETFLIX COM INC COMMON STOCK 64110l106 NETIQ CORP COMMON STOCK 64115p102 NEWELL RUBBERMAID INC COMMON STOCK 651229106 NUANCE COMMUNICATIONS INC COMMON STOCK 669967101 OAK INDUSTRIES INC SUB CONV NTS CONVERTIBLE BONDS 671400al3 OFFICE DEPOT INC COMMON STOCK 676220106 ONI SYS CORP CVT SUB NT5.000% 10/15/2005 DD 10/27/00 CONVERTIBLE BONDS 68273FAA1 PANAMSAT CORP NEW NOTE CORPORATE BONDS 697933ak5 PANAMSAT CORP NEW NOTES CORPORATE BONDS 697933al3 PARK ELECTROCHEMICAL COM COMMON STOCK 700416209 PC-TEL INC COM COMMON STOCK 69325Q105 PETROCORP INC COMMON STOCK 71645N101 PFIZER INC COMMON STOCK 717081103 POWER-ONE INC COMMON STOCK 739308104 PRAXAIR INC COMMON STOCK 74005p104 Progress Energy-CONT. VALUE OBLIG. COMMON STOCK 743263aa3 PUT IRWIN FINCL NOV 025 PUTS - LONG 4641199w8 QUANTUM CORP CONV SUB NOTE CONVERTIBLE BONDS 747906ac9 QUEST SOFTWARE INC COMMON STOCK 74834t103 RIO TINTO PLC SPONSORED ADR AMERICAN DEPOSITORY RECEIPTS 767204100 ROWAN COMPANIES INC COMMON STOCK 779382100 SCIENTIFIC GAMES CORP CL A COMMON STOCK 80874p109 SCUDDER INTER GOVT TR SHS MUTUAL FUNDS - LONG 811163104 SEABULK INTL INC COM COMMON STOCK 81169P101 SELECT SECTOR SPDR FUND SHS BEN INT MATERI COMMON STOCK 81369y100 SIEBEL SYSTEMS INC CONV SUB NOTES CONVERTIBLE BONDS 826170ac6 SMITHFIELD FOODS INC COMMON STOCK 832248108 SOUTHWALL TECHNOLOGIES INC COMMON STOCK 844909101 SOUTHWEST GAS CORP COM COMMON STOCK 844895102 STANDARD & POORS DEPOSITARY RECEIPTS (SPDR COMMON STOCK 78462f103 SUN MICROSYSTEMS INC COM COMMON STOCK 866810104 SUN MICROSYSTEMS INC SR NOTE 7.35% 08/15/04 CORPORATE BONDS 866810ad6 SUN MICROSYSTEMS INC SR NOTE 7.50% 08/15/06 CORPORATE BONDS 866810ae4 SUNNCOMM TECHNOLOGIES INC COMMON STOCK 86744r100 SUPERVALU INC COMMON STOCK 868536103 SYMANTEC CORP COMMON STOCK 871503108 SYPRIS SOLUTIONS INC COMMON STOCK 871655106 TCW DW TERM TRUST 2003-SBI MUTUAL FUNDS - LONG 87234u108 THERMAWAVE INC COM COMMON STOCK 88343A108 THOMAS & BETTS CORP SR NTS CORPORATE BONDS 884315aa0 THREE-FIVE SYS INC COMMON STOCK 88554L108 TIVO INC COMMON STOCK 888706108 TRIMBLE NAV LTD COMMON STOCK 896239100 TRIQUINT SEMICONDUCTOR INC CONV SUB NOTE REGD CONVERTIBLE BONDS 89674kab9 TUPPERWARE CORP COMMON STOCK 899896104 TYSON FOODS INC CL A COMMON STOCK 902494103 TYSON FOODS INC NT6.625% 10/01/2004 DD 04/01/02 CORPORATE BONDS 902494AK9 VESTA INS GROUP INC COM COMMON STOCK 925391104 WATCHGUARD TECHNOLOGIES INC COMMON STOCK 941105108 WELLS FARGO & CO-NEW COMMON STOCK 949746101 WESTAIM CORP COM COMMON STOCK 956909105 WESTERN DIGITAL CORP COMMON STOCK 958102105 WILLIAMS ENERGY PARTNERS L P COM UNITS REP LIMITED PARTNERSHIPS - LONG 969491109 ZIMMER HOLDINGS INC COMMON STOCK 98956p102
NAME OF ISSUER (x$1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED ------------------------------------------------- -------- ------- --- ---- ------- -------- ---- ------- 3COM CORP COM 1,313 269,000 SH SOLE 269,000 ABERDEEN ASIA PACIFIC INCOME FUND INC 1,839 350,878 SH SOLE 350,878 ACTIVISION INC NEW 128 11,000 SH SOLE 11,000 AMAZON COM INC CONV SUB NTS 2,790 3,000,000 PRN SOLE 3,000,000 AMDOCS LTD CONV 6,391 6,530,000 PRN SOLE 6,530,000 AMERICAN INTL GROUP 669 700,000 PRN SOLE 700,000 ANALOG DEVICES INC SUB NT CONV4.750% 10/01/2005 DD 10/02/00 10,924 10,749,000 PRN SOLE 10,749,000 APPLE COMPUTER INC6.500% 02/15/2004 9,264 9,105,000 PRN SOLE 9,105,000 APPLIED FILMS CORP COM 1,774 71,364 SH SOLE 71,364 ARTESYN TECHNOLOGIES INC 144 20,000 SH SOLE 20,000 ATARI INC 121 25,000 SH SOLE 25,000 AVIRON CONV SUB NT 103 100,000 PRN SOLE 100,000 AXCELIS TECHNOLOGIES INC 94 12,800 SH SOLE 12,800 BANK OF CAROLINAS MOCKSVILLE NORTH CAROLIN 335 25,950 SH SOLE 25,950 BAXTER INTERNATIONAL INC 7.00% PFD DUE 2/1 204 4,000 SH SOLE 4,000 BEI TECHNOLOGIES INC 136 10,000 SH SOLE 10,000 BENTON OIL & GAS CO SR NOTE 9,002 9,680,000 PRN SOLE 9,680,000 BIOMET INC 548 18,500 SH SOLE 18,500 BLACKROCK INSURED MUNICIPAL 2008 TERM TRUS 282 17,000 SH SOLE 17,000 BROCADE COMMUNICATIONS SYSTEM INC CONV SUB NOTE 1,458 1,800,000 PRN SOLE 1,800,000 BURLINGTON RESOURCES INC 11,496 249,000 SH SOLE 249,000 CABLE & WIRELESS PLC SPONSORED ADR 894 162,000 SH SOLE 162,000 CELERITEK INC 998 140,900 SH SOLE 140,900 CELESTICA INC LIQUID YIELD OPT NT 4,090 8,000,000 PRN SOLE 8,000,000 CENUCO INC 21 15,000 SH SOLE 15,000 CHUBB CORP 415 6,400 SH SOLE 6,400 CIENA CORP CONV NT 6,138 7,340,000 PRN SOLE 7,340,000 CISCO SYSTEMS INC 195 10,000 SH SOLE 10,000 CLARENT CORP 1 1,100,000 SH SOLE 1,100,000 COASTAL CORP 275 275,000 PRN SOLE 275,000 COMVERSE TECHNOLOGY INC CVT1.500% 12/01/2005 DD 11/22/00 4,908 5,235,000 PRN SOLE 5,235,000 CORNING INC CONV DEBS 66 87,000 PRN SOLE 87,000 COVAD COMMUNICATIONS GROUP INC COM 30 25,000 SH SOLE 25,000 CROSS COUNTRY HEALTHCARE INC 225 15,000 SH SOLE 15,000 DELPHI CORP 294 35,000 SH SOLE 35,000 DEVON ENERGY CORPORATION NEW SR DEB CONV ZERO CPN 8,472 15,799,000 PRN SOLE 15,799,000 DIAMONDS TRUST-UNIT SERIES 1 277 3,000 SH SOLE 3,000 DISNEY WALT CO COM DISNEY 274 12,500 SH SOLE 12,500 DRUGSTORE COM INC COM 361 64,980 SH SOLE 64,980 ENERGY FACTORS CV S/D-REG 260 400,000 PRN SOLE 400,000 ENTEGRIS INC 322 22,500 SH SOLE 22,500 EXTREME NETWORKS CVT 144A3.500% 12/01/2006 DD 12/05/01 583 650,000 PRN SOLE 650,000 EXTREME NETWORKS INC NT CVT3.500% 12/01/2006 DD 12/05/01 5,378 6,000,000 PRN SOLE 6,000,000 FARGO ELECTRONICS INC COM 227 19,700 SH SOLE 19,700 FINANCIAL INDS CORP 6,379 419,681 SH SOLE 419,681 FLEXTRONICS INTERNATIONAL LTD 462 42,000 SH SOLE 42,000 FLOW INTL INC 618 460,822 SH SOLE 460,822 FREEPORT MCMORAN COPPER & GOLD INC-DEP SHS 9,378 267,700 SH SOLE 267,700 FREEPORT-MCMORAN COPPER & GOLDDEP SH REP 0 1,950 77,300 SH SOLE 77,300 FSI INTL INC 1,763 353,279 SH SOLE 353,279 GATX CORP COM 285 13,000 SH SOLE 13,000 GENERAL MOTORS CORP-CL H NEW 343 25,000 SH SOLE 25,000 GENUS INC 111 39,762 SH SOLE 39,762 GLOBAL CROSSING GBLXQ 9.125% 11/15/2006 47 1,340,000 PRN SOLE 1,340,000 GLOBAL CROSSING HLDG LTD SR NT GBLXQ 8.7% 08/01/2007 6 175,000 PRN SOLE 175,000 GLOBAL CROSSING HLDGS LTD SENIOR NOTES 116 3,325,000 PRN SOLE 3,325,000 GREAT LAKES CHEMICAL CORP 1,018 46,700 SH SOLE 46,700 GREAT PLAINS ENERGY INC COM 2,086 73,100 SH SOLE 73,100 HARBOR GLOBAL COMPANY LTD 441 58,800 SH SOLE 58,800 HORIZON BANCORP-IND 215 6,500 SH SOLE 6,500 HYPERION 2005 INVESTMENT GRADE OPPORTUNITY 207 22,000 SH SOLE 22,000 INFOCUS CORP COM 3,579 776,376 SH SOLE 776,376 INTEGRATED DEVICE TECH INC 906 78,700 SH SOLE 78,700 INTERNAP NETWORK SVCS CORP COM 876 690,050 SH SOLE 690,050 INTERNATIONAL RECTIFIER CORP SUB NT CONV 6,905 7,100,000 PRN SOLE 7,100,000 ISHARESTRUST 20+YR TREASURY INDEX FUND 249 3,000 SH SOLE 3,000 KERR MCGEE CORP DECS % EXCHANGEABLE INTO C 2,484 58,100 SH SOLE 58,100 KINDRED HEALTHCARE INC 240 10,000 SH SOLE 10,000 LAM RESEARCH CONV SUB NT 294 300,000 PRN SOLE 300,000 LIBERTY MEDIA CORP SER A NEW 157 14,200 SH SOLE 14,200 LONE STAR TECHNOLOGIES INC SR SUB NT SER-B 4,445 4,630,000 PRN SOLE 4,630,000 LTX CORP CONV SUB NTE 209 250,000 PRN SOLE 250,000 MAD CATZ INTERACTIVE INC 26 43,400 SH SOLE 43,400 MAGNETEK INC 652 161,500 SH SOLE 161,500 MAVERICK TUBE CORP COM 3,595 217,900 SH SOLE 217,900 MAXIM INTEGRATED PRODUCTS INC 1,680 43,000 SH SOLE 43,000 MCDATA CORP CL B 117 11,000 SH SOLE 11,000 MERCURY INTERACTIVE CORP SUB NT CONV 1,931 1,950,000 PRN SOLE 1,950,000 MFS GOVERNMENT MARKETS INCOME TRUST-SBI 66 10,000 SH SOLE 10,000 MICROSOFT CORP 264 10,000 SH SOLE 10,000 MONROE BANCORP-IND 560 40,400 SH SOLE 40,400 MOTOROLA INC SUB LIQUID YLD OPT NOTE ZERO 5,912 7,496,000 PRN SOLE 7,496,000 NATIONAL SEMICONDUCTOR CORPCOM 447 20,000 SH SOLE 20,000 NATIONAL-OILWELL INC 1,564 85,000 SH SOLE 85,000 NATUZZI SPA ADR 170 20,000 SH SOLE 20,000 NETFLIX COM INC 498 19,000 SH SOLE 19,000 NETIQ CORP 185 17,000 SH SOLE 17,000 NEWELL RUBBERMAID INC 354 15,000 SH SOLE 15,000 NUANCE COMMUNICATIONS INC 300 56,994 SH SOLE 56,994 OAK INDUSTRIES INC SUB CONV NTS 1,297 1,353,000 PRN SOLE 1,353,000 OFFICE DEPOT INC 531 32,000 SH SOLE 32,000 ONI SYS CORP CVT SUB NT5.000% 10/15/2005 DD 10/27/00 1,773 1,800,000 PRN SOLE 1,800,000 PANAMSAT CORP NEW NOTE 204 200,000 PRN SOLE 200,000 PANAMSAT CORP NEW NOTES 1,019 1,000,000 PRN SOLE 1,000,000 PARK ELECTROCHEMICAL COM 533 25,000 SH SOLE 25,000 PC-TEL INC COM 1,406 123,400 SH SOLE 123,400 PETROCORP INC 8,112 574,930 SH SOLE 574,930 PFIZER INC 484 14,500 SH SOLE 14,500 POWER-ONE INC 768 72,500 SH SOLE 72,500 PRAXAIR INC 233 3,600 SH SOLE 3,600 Progress Energy-CONT. VALUE OBLIG. 44 337,000 SH SOLE 337,000 PUT IRWIN FINCL NOV 025 505 1,486 PUT SOLE 1,486 QUANTUM CORP CONV SUB NOTE 4,852 4,828,000 PRN SOLE 4,828,000 QUEST SOFTWARE INC 257 29,000 SH SOLE 29,000 RIO TINTO PLC SPONSORED ADR 1,591 18,800 SH SOLE 18,800 ROWAN COMPANIES INC 318 14,500 SH SOLE 14,500 SCIENTIFIC GAMES CORP CL A 84 10,000 SH SOLE 10,000 SCUDDER INTER GOVT TR SHS 3,900 577,771 SH SOLE 577,771 SEABULK INTL INC COM 1,291 167,600 SH SOLE 167,600 SELECT SECTOR SPDR FUND SHS BEN INT MATERI 268 12,000 SH SOLE 12,000 SIEBEL SYSTEMS INC CONV SUB NOTES 5,488 5,414,000 PRN SOLE 5,414,000 SMITHFIELD FOODS INC 426 20,000 SH SOLE 20,000 SOUTHWALL TECHNOLOGIES INC 42 20,000 SH SOLE 20,000 SOUTHWEST GAS CORP COM 3,579 168,600 SH SOLE 168,600 STANDARD & POORS DEPOSITARY RECEIPTS (SPDR 437 4,400 SH SOLE 4,400 SUN MICROSYSTEMS INC COM 598 160,000 SH SOLE 160,000 SUN MICROSYSTEMS INC SR NOTE 7.35% 08/15/04 6,167 5,891,000 PRN SOLE 5,891,000 SUN MICROSYSTEMS INC SR NOTE 7.50% 08/15/06 190 170,000 PRN SOLE 170,000 SUNNCOMM TECHNOLOGIES INC 27 145,000 SH SOLE 145,000 SUPERVALU INC 683 29,000 SH SOLE 29,000 SYMANTEC CORP 210 4,500 SH SOLE 4,500 SYPRIS SOLUTIONS INC 1,337 106,971 SH SOLE 106,971 TCW DW TERM TRUST 2003-SBI 4,704 448,400 SH SOLE 448,400 THERMAWAVE INC COM 429 184,795 SH SOLE 184,795 THOMAS & BETTS CORP SR NTS 186 185,000 PRN SOLE 185,000 THREE-FIVE SYS INC 5,267 728,500 SH SOLE 728,500 TIVO INC 414 38,000 SH SOLE 38,000 TRIMBLE NAV LTD 6,389 233,600 SH SOLE 233,600 TRIQUINT SEMICONDUCTOR INC CONV SUB NOTE REGD 509 590,000 PRN SOLE 590,000 TUPPERWARE CORP 431 27,800 SH SOLE 27,800 TYSON FOODS INC CL A 1,416 125,000 SH SOLE 125,000 TYSON FOODS INC NT6.625% 10/01/2004 DD 04/01/02 9,303 9,000,000 PRN SOLE 9,000,000 VESTA INS GROUP INC COM 217 87,500 SH SOLE 87,500 WATCHGUARD TECHNOLOGIES INC 280 64,700 SH SOLE 64,700 WELLS FARGO & CO-NEW 409 8,100 SH SOLE 8,100 WESTAIM CORP COM 55 28,800 SH SOLE 28,800 WESTERN DIGITAL CORP 125 12,500 SH SOLE 12,500 WILLIAMS ENERGY PARTNERS L P COM UNITS REP 462 10,000 SH SOLE 10,000 ZIMMER HOLDINGS INC 215 4,500 SH SOLE 4,500