13F-HR 1 f13.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 13F Form 13F COVER PAGE Report for the Calendar Year or Quarter Ended: 03/31/2004 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: Mackay Shields LLC Address: 9 West 57th Street New York, NY 10019 13F File Number: 28-00046 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: Mark Goldstein Title: Chief Compliance Officer Phone: 212-230-3835 Signature, Place, and Date of Signing: /s/ Mark Goldstein New York, NY May 12, 2004 Report Type (Check only one.): [ X] 13F HOLDINGS REPORT. [ ] 13F NOTICE. [ ] 13F COMBINATION REPORT. FORM 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 0 Form13F Information Table Entry Total: 579 Form13F Information Table Value Total: $13,998,899,610 (thousands) List of Other Included Managers: Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional managers with respect to which this report is filed, other than the manager filing this report. NONE FORM 13F INFORMATION TABLE VALUE SHARES/ SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE ------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- -------- A C MOORE ARTS & CRAFTS INC COM 00086T103 4660376 172611 SH SOLE 172611 0 0 ABITIBI-CONSOLIDATED INC COM 003924107 14991039 2114392 SH SOLE 2114392 0 0 ABLE LABORATORIES INC COM NEW 00371N407 2824944 144649 SH SOLE 144649 0 0 ACTIVISION INC NEW COM NEW 004930202 2407804 152200 SH SOLE 152200 0 0 ACTUANT CORP CL A NEW 00508X203 9763759 248885 SH SOLE 248885 0 0 ACXIOM CORP COM 005125109 2837232 129200 SH SOLE 129200 0 0 ADTRAN INC COM 00738A106 2414412 80400 SH SOLE 80400 0 0 ADVANCE AUTO PARTS INC COM 00751Y106 7473926 183770 SH SOLE 183770 0 0 ADVANCED ENERGY INDS COM 007973100 5950189 291819 SH SOLE 291819 0 0 ADVANCED MICRO DEVICES INC COM 007903107 18984702 1169729 SH SOLE 1169729 0 0 ADVANCED MICRO DEVICES INC NOTE 4.500%12/0 007903AF4 6523950 2760000 SH SOLE 2760000 0 0 AFFILIATED COMPUTER SERVICES CL A 008190100 3090645 59550 SH SOLE 59550 0 0 AFFILIATED MANAGERS GROUP COM 008252108 14515114 265942 SH SOLE 265942 0 0 AFFILIATED MANAGERS GROUP NOTE 5/0 008252AC2 7048463 6502000 SH SOLE 6502000 0 0 AFLAC INC COM 001055102 4148268 103345 SH SOLE 103345 0 0 AGCO CORP COM 001084102 10346095 499570 SH SOLE 499570 0 0 AGILENT TECHNOLOGIES INC DBCV 3.000%12/0 00846UAB7 11575824 10145000 SH SOLE 10145000 0 0 AGILENT TECHNOLOGIES INC COM 00846U101 93721272 2963050 SH SOLE 2963050 0 0 AIR PRODS & CHEMS INC COM 009158106 15895609 317151 SH SOLE 317151 0 0 AIRTRAN HLDGS INC NOTE 7.000% 7/0 00949PAB4 2131169 1385000 SH SOLE 1385000 0 0 ALBERTSONS INC COM 013104104 131394 5932 SH SOLE 5932 0 0 ALCOA INC COM 013817101 44861247 1293204 SH SOLE 1293204 0 0 ALKERMES INC COM 01642T108 7367233 460740 SH SOLE 460740 0 0 ALLIANCE DATA SYSTEMS CORP COM 018581108 2442440 72800 SH SOLE 72800 0 0 ALLIANCE GAMING CORP COM NEW 01859P609 5027028 156459 SH SOLE 156459 0 0 ALLIANT TECHSYSTEMS INC COM 018804104 2118880 38950 SH SOLE 38950 0 0 ALLIED WASTE INDS INC COM PAR$.01NEW 019589308 1977866 148600 SH SOLE 148600 0 0 ALLSTATE CORP COM 020002101 49435567 1087452 SH SOLE 1087452 0 0 ALLTEL CORP COM 020039103 46373753 929520 SH SOLE 929520 0 0 ALLTEL CORP CORP UNT 7.75% 020039822 131872 2600 SH SOLE 2600 0 0 ALTERA CORP COM 021441100 1678945 82100 SH SOLE 82100 0 0 ALTIRIS INC COM 02148M100 11301343 404489 SH SOLE 404489 0 0 ALZA CORP SDCV 7/2 02261WAB5 20006562 27694000 SH SOLE 27694000 0 0 AMDOCS LTD ORD G02602103 2381603 85700 SH SOLE 85700 0 0 AMERICA ONLINE INC DEL NOTE 12/0 02364JAC8 2486250 3900000 SH SOLE 3900000 0 0 AMERICAN EXPRESS CO COM 025816109 143990768 2777064 SH SOLE 2777064 0 0 AMERICAN INTL GROUP INC COM 026874107 24149122 338460 SH SOLE 338460 0 0 AMERICAN INTL GROUP INC NOTE 0.500% 5/1 026874AN7 14444325 14760000 SH SOLE 14760000 0 0 AMERICAN PHARMACEUTICALS PTN COM 02886P109 17001883 362206 SH SOLE 362206 0 0 AMERICAN REAL ESTATE PARTNR DEPOSITRY UNIT 029169109 2772824 179820 SH SOLE 179820 0 0 AMERICAN STD COS INC DEL COM 029712106 21101080 185504 SH SOLE 185504 0 0 AMGEN INC COM 031162100 115415272 1984103 SH SOLE 1984103 0 0 AMGEN INC NOTE 3/0 031162AE0 12074379 15585000 SH SOLE 15585000 0 0 AMIS HLDGS INC COM 031538101 6022953 371100 SH SOLE 371100 0 0 AMKOR TECHNOLOGY INC NOTE 5.750% 6/0 031652AN0 3904875 3900000 SH SOLE 3900000 0 0 AMPHENOL CORP NEW CL A 032095101 16761551 564362 SH SOLE 564362 0 0 ANALOG DEVICES INC COM 032654105 103030180 2146015 SH SOLE 2146015 0 0 ANNTAYLOR STORES CORP SDCV 0.550% 6/1 036115AC7 13224791 16475000 SH SOLE 16475000 0 0 APOLLO GROUP INC CL A 037604105 4559525 52950 SH SOLE 52950 0 0 APPLIED FILMS CORP COM 038197109 7787228 279105 SH SOLE 279105 0 0 APPLIED MATLS INC COM 038222105 78468812 3670197 SH SOLE 3670197 0 0 APRIA HEALTHCARE GROUP INC COM 037933108 7808083 260791 SH SOLE 260791 0 0 AQUILA INC COM 03840P102 1910847 405700 SH SOLE 405700 0 0 ARCH CHEMICALS INC COM 03937R102 13206248 467809 SH SOLE 467809 0 0 ASE TEST LTD ORD Y02516105 628100 57100 SH SOLE 57100 0 0 ASM INTL N V COM N07045102 55515 2512 SH SOLE 2512 0 0 ASPECT COMMUNICATIONS CORP COM 04523Q102 8699012 555138 SH SOLE 555138 0 0 ASPEN TECHNOLOGY INC SDCV 5.250% 6/1 045327AB9 9466380 9562000 SH SOLE 9562000 0 0 ASSET ACCEP CAP CORP COM 04543P100 1093680 58800 SH SOLE 58800 0 0 AT&T CORP COM NEW 001957505 77086 3939 SH SOLE 3939 0 0 ATHEROGENICS INC COM 047439104 3669835 160465 SH SOLE 160465 0 0 ATMEL CORP SDCV 5/2 049513AE4 28967249 65630000 SH SOLE 65630000 0 0 ATMI INC COM 00207R101 5984063 227358 SH SOLE 227358 0 0 AUGUST TECHNOLOGY CORP COM 05106U105 5088000 339200 SH SOLE 339200 0 0 AUTODESK INC COM 052769106 5941398 187900 SH SOLE 187900 0 0 AUTOLIV INC COM 052800109 4214800 102800 SH SOLE 102800 0 0 AUTOZONE INC COM 053332102 2802622 32600 SH SOLE 32600 0 0 AVAYA INC COM 053499109 76130705 4794125 SH SOLE 4794125 0 0 AVAYA INC NOTE 10/3 053499AA7 11246017 16565000 SH SOLE 16565000 0 0 AVOCENT CORP COM 053893103 14169785 385151 SH SOLE 385151 0 0 AXIS CAPITAL HOLDINGS SHS G0692U109 576225 19500 SH SOLE 19500 0 0 BAKER HUGHES INC COM 057224107 52823952 1448025 SH SOLE 1448025 0 0 BANK NEW YORK INC COM 064057102 4255650 135100 SH SOLE 135100 0 0 BANK OF AMERICA CORPORATION COM 060505104 64191145 792679 SH SOLE 792679 0 0 BANK ONE CORP COM 06423A103 47487956 871019 SH SOLE 871019 0 0 BANKNORTH GROUP INC NEW COM 06646R107 91908 2700 SH SOLE 2700 0 0 BARNES GROUP INC COM 067806109 2434797 87300 SH SOLE 87300 0 0 BARR PHARMACEUTICALS INC COM 068306109 2366145 51550 SH SOLE 51550 0 0 BAXTER INTL INC COM 071813109 36858720 1193225 SH SOLE 1193225 0 0 BB&T CORP COM 054937107 2959905 83850 SH SOLE 83850 0 0 BED BATH & BEYOND INC COM 075896100 106488000 2550000 SH SOLE 2550000 0 0 BELLSOUTH CORP COM 079860102 60890 2199 SH SOLE 2199 0 0 BELLSOUTH CORP COM 079860102 31034121 1120770 SH SOLE 1120770 0 0 BISYS GROUP INC COM 055472104 3727424 222400 SH SOLE 222400 0 0 BJ SVCS CO NOTE 0.500% 4/2 055482AF0 51220798 59742000 SH SOLE 59742000 0 0 BJ SVCS CO COM 055482103 42458688 981250 SH SOLE 981250 0 0 BMC SOFTWARE INC COM 055921100 29656744 1516969 SH SOLE 1516969 0 0 BOEING CO COM 097023105 36051123 877797 SH SOLE 877797 0 0 BOISE CASCADE CORP COM 097383103 23589789 680802 SH SOLE 680802 0 0 BORG WARNER INC COM 099724106 3630724 42800 SH SOLE 42800 0 0 BOSTON SCIENTIFIC CORP COM 101137107 112802846 2661700 SH SOLE 2661700 0 0 BOWATER INC COM 102183100 116214264 2663632 SH SOLE 2663632 0 0 BOYD GAMING CORP COM 103304101 1558809 68100 SH SOLE 68100 0 0 BP PLC SPONSORED ADR 055622104 11653427 227606 SH SOLE 227606 0 0 BRINKER INTL INC DBCV 10/1 109641AC4 23603004 32480000 SH SOLE 32480000 0 0 BRINKER INTL INC COM 109641100 5689500 150000 SH SOLE 150000 0 0 BRISTOL MYERS SQUIBB CO COM 110122108 40431196 1668642 SH SOLE 1668642 0 0 BROCADE COMMUNICATIONS SYS I NOTE 2.000% 1/0 111621AB4 15169648 16185000 SH SOLE 16185000 0 0 BROOKS AUTOMATION INC COM 114340102 7391620 352312 SH SOLE 352312 0 0 BRUNSWICK CORP COM 117043109 9092841 222700 SH SOLE 222700 0 0 BURLINGTON NORTHN SANTA FE C COM 12189T104 50688288 1609152 SH SOLE 1609152 0 0 BURLINGTON RES INC COM 122014103 9865832 155050 SH SOLE 155050 0 0 BUSINESS OBJECTS S A SPONSORED ADR 12328X107 6799587 238582 SH SOLE 238582 0 0 C D W CORP COM 12512N105 3275705 48450 SH SOLE 48450 0 0 CADBURY SCHWEPPES PLC ADR 127209302 30075843 935485 SH SOLE 935485 0 0 CALLAWAY GOLF CO COM 131193104 11005268 579835 SH SOLE 579835 0 0 CANON INC ADR 138006309 6598698 127388 SH SOLE 127388 0 0 CAPITAL ONE FINL CORP COM 14040H105 65607128 869775 SH SOLE 869775 0 0 CARDINAL HEALTH INC COM 14149Y108 125523743 1821825 SH SOLE 1821825 0 0 CAREER EDUCATION CORP COM 141665109 2905066 51290 SH SOLE 51290 0 0 CAREMARK RX INC COM 141705103 104813842 3152296 SH SOLE 3152296 0 0 CELGENE CORP COM 151020104 2144250 45000 SH SOLE 45000 0 0 CENDANT CORP COM 151313103 125209748 5133651 SH SOLE 5133651 0 0 CENDANT CORP DBCV 3.875%11/2 151313AN3 5840578 5235000 SH SOLE 5235000 0 0 CENTEX CORP COM 152312104 7941414 146900 SH SOLE 146900 0 0 CENTURYTEL INC COM 156700106 76972 2800 SH SOLE 2800 0 0 CHEROKEE INTL CORP COM 164450108 10998751 943482 SH SOLE 943482 0 0 CHESAPEAKE ENERGY CORP PFD CONV 6% 165167701 5611746 74200 SH SOLE 74200 0 0 CHESAPEAKE ENERGY CORP COM 165167107 4245120 316800 SH SOLE 316800 0 0 CHESAPEAKE ENERGY CORP PFD CONV 5% 165167800 7209573 63350 SH SOLE 63350 0 0 CHEVRONTEXACO CORP COM 166764100 56678493 645688 SH SOLE 645688 0 0 CHICOS FAS INC COM 168615102 6639608 143095 SH SOLE 143095 0 0 CHIPPAC INC NOTE 2.500% 6/0 169657AD5 10375687 8225000 SH SOLE 8225000 0 0 CIENA CORP NOTE 3.750% 2/0 171779AA9 92216757 96502000 SH SOLE 96502000 0 0 CISCO SYS INC COM 17275R102 149207328 6343849 SH SOLE 6343849 0 0 CITIBANK WEST FSB SAN FRAN C CONT LITIG REC 17306J202 36951 45619 SH SOLE 45619 0 0 CITIGROUP GLOBAL MKTS HLDG I NOTE 0.250% 5/1 173073AT4 8443075 9140000 SH SOLE 9140000 0 0 CITIGROUP GLOBAL MKTS HLDG I NOTE 0.500%10/0 173073BJ5 14818519 13335000 SH SOLE 13335000 0 0 CITIGROUP INC COM 172967101 213310426 4125927 SH SOLE 4125927 0 0 CITY NATL CORP COM 178566105 77870 1300 SH SOLE 1300 0 0 CLAIRES STORES INC COM 179584107 2522724 121052 SH SOLE 121052 0 0 CLARCOR INC COM 179895107 7865941 178164 SH SOLE 178164 0 0 CLEAR CHANNEL COMMUNICATIONS COM 184502102 119959467 2832573 SH SOLE 2832573 0 0 CNET INC NOTE 5.000% 3/0 125945AC9 26299008 22220000 SH SOLE 22220000 0 0 CNF INC COM 12612W104 67200 2000 SH SOLE 2000 0 0 CNH GLOBAL N V SHS NEW N20935206 2563704 136950 SH SOLE 136950 0 0 COACH INC COM 189754104 4752381 115940 SH SOLE 115940 0 0 COCA COLA CO COM 191216100 43852596 871821 SH SOLE 871821 0 0 COGNOS INC COM 19244C109 1441184 46400 SH SOLE 46400 0 0 COLGATE PALMOLIVE CO COM 194162103 83192735 1509850 SH SOLE 1509850 0 0 COLUMBIA SPORTSWEAR CO COM 198516106 1912680 34500 SH SOLE 34500 0 0 COMMERCIAL CAP BANCORP INC COM 20162L105 7740863 337734 SH SOLE 337734 0 0 COMPASS BANCSHARES INC COM 20449H109 14090386 339773 SH SOLE 339773 0 0 COMPUTER SCIENCES CORP COM 205363104 71989575 1785013 SH SOLE 1785013 0 0 CONOCOPHILLIPS COM 20825C104 60645204 868718 SH SOLE 868718 0 0 CONSTAR INTL INC NEW COM 21036U107 1059322 196900 SH SOLE 196900 0 0 CONSTELLATION ENERGY GROUP I COM 210371100 1246440 31200 SH SOLE 31200 0 0 CONTINENTAL AIRLS INC NOTE 5.000% 6/1 210795PJ3 3930000 4000000 SH SOLE 4000000 0 0 CONTINENTAL AIRLS INC CL B 210795308 997601 79617 SH SOLE 79617 0 0 COOPER CAMERON CORP COM 216640102 4405000 100000 SH SOLE 100000 0 0 COOPER CAMERON CORP DBCV 1.750% 5/1 216640AB8 154031 155000 SH SOLE 155000 0 0 COOPER COS INC COM NEW 216648402 10339866 191479 SH SOLE 191479 0 0 COOPER INDS LTD CL A G24182100 25412450 444429 SH SOLE 444429 0 0 COORS ADOLPH CO CL B 217016104 104175 1500 SH SOLE 1500 0 0 CORINTHIAN COLLEGES INC COM 218868107 8878122 268547 SH SOLE 268547 0 0 CORN PRODS INTL INC COM 219023108 88000 2200 SH SOLE 2200 0 0 CORNING INC NOTE 3.500%11/0 219350AK1 5299350 4120000 SH SOLE 4120000 0 0 CORPORATE EXECUTIVE BRD CO COM 21988R102 6795871 144593 SH SOLE 144593 0 0 COVENTRY HEALTH CARE INC COM 222862104 16308267 385265 SH SOLE 385265 0 0 CRANE CO COM 224399105 52668 1596 SH SOLE 1596 0 0 CREDIT SUISSE GROUP SPONSORED ADR 225401108 6099779 175281 SH SOLE 175281 0 0 CROMPTON CORP COM 227116100 3909587 612788 SH SOLE 612788 0 0 CSX CORP COM 126408103 6085382 200904 SH SOLE 200904 0 0 CUMMINS INC COM 231021106 40185018 687511 SH SOLE 687511 0 0 CVS CORP COM 126650100 64216313 1819159 SH SOLE 1819159 0 0 CYMER INC NOTE 3.500% 2/1 232572AE7 9223746 8675000 SH SOLE 8675000 0 0 CYMER INC COM 232572107 7029645 182068 SH SOLE 182068 0 0 CYPRESS SEMICONDUCTOR CORP NOTE 1.250% 6/1 232806AH2 9602168 6375000 SH SOLE 6375000 0 0 CYTYC CORP COM 232946103 13630995 612629 SH SOLE 612629 0 0 D R HORTON INC COM 23331A109 5159919 145637 SH SOLE 145637 0 0 DANAHER CORP DEL COM 235851102 106234519 1137780 SH SOLE 1137780 0 0 DDI CORP COM PAR $ .001 233162304 2932164 284400 SH SOLE 284400 0 0 DELL INC COM 24702R101 114073501 3393025 SH SOLE 3393025 0 0 DELPHI CORP COM 247126105 28578058 2869283 SH SOLE 2869283 0 0 DELTA AIR LINES INC DEL NOTE 2.875% 2/1 247361YR3 2521627 3165000 SH SOLE 3165000 0 0 DELTA AIR LINES INC DEL NOTE 8.000% 6/0 247361YP7 27452509 34780000 SH SOLE 34780000 0 0 DELTA AIR LINES INC DEL COM 247361108 643856 81295 SH SOLE 81295 0 0 DIAGEO P L C SPON ADR NEW 25243Q205 4987906 94325 SH SOLE 94325 0 0 DIAMOND OFFSHORE DRILLING IN COM 25271C102 48758066 2015629 SH SOLE 2015629 0 0 DIAMONDS TR UNIT SER 1 252787106 5790015 55700 SH SOLE 55700 0 0 DICKS SPORTING GOODS INC COM 253393102 3575610 61500 SH SOLE 61500 0 0 DIGITAS INC COM 25388K104 8746665 850016 SH SOLE 850016 0 0 DIME CMNTY BANCSHARES COM 253922108 6223742 305835 SH SOLE 305835 0 0 DJ ORTHOPEDICS INC COM 23325G104 8670090 335400 SH SOLE 335400 0 0 DORAL FINL CORP COM 25811P100 8749840 248575 SH SOLE 248575 0 0 DOVER CORP COM 260003108 96568316 2490800 SH SOLE 2490800 0 0 DTE ENERGY CO COM 233331107 14703841 357323 SH SOLE 357323 0 0 DUQUESNE LT HLDGS INC COM 266233105 85800 4400 SH SOLE 4400 0 0 E TRADE FINANCIAL CORP COM 269246104 6413340 480400 SH SOLE 480400 0 0 E TRADE FINANCIAL CORP NOTE 6.000% 2/0 269246AB0 19378134 16500000 SH SOLE 16500000 0 0 EAGLE MATERIALS INC COM 26969P108 4951094 84174 SH SOLE 84174 0 0 EDUCATION MGMT CORP COM 28139T101 1766565 55500 SH SOLE 55500 0 0 ELECTRONIC ARTS INC COM 285512109 108750984 2015400 SH SOLE 2015400 0 0 ELECTRONIC DATA SYS NEW NOTE 3.875% 7/1 285661AF1 20327151 19500000 SH SOLE 19500000 0 0 EMULEX CORP COM NEW 292475209 2039582 95800 SH SOLE 95800 0 0 ENDO PHARMACEUTICALS HLDGS I COM 29264F205 2217336 90800 SH SOLE 90800 0 0 ENERGIZER HLDGS INC COM 29266R108 345693 7404 SH SOLE 7404 0 0 ENERGY EAST CORP COM 29266M109 7480693 294980 SH SOLE 294980 0 0 ENI S P A SPONSORED ADR 26874R108 1092784 10825 SH SOLE 10825 0 0 ENSCO INTL INC COM 26874Q100 29686081 1053819 SH SOLE 1053819 0 0 ENTERGY CORP NEW COM 29364G103 9356792 157257 SH SOLE 157257 0 0 EON LABS INC COM 29412E100 2803944 41800 SH SOLE 41800 0 0 EPICOR SOFTWARE CORP COM 29426L108 7229741 544837 SH SOLE 544837 0 0 EQUITABLE RES INC COM 294549100 88840 2000 SH SOLE 2000 0 0 EVERGREEN RES INC COM NO PAR 299900308 6855436 199576 SH SOLE 199576 0 0 EXTREME NETWORKS INC NOTE 3.500%12/0 30226DAB2 7118113 7310000 SH SOLE 7310000 0 0 EXXON MOBIL CORP COM 30231G102 57490481 1382315 SH SOLE 1382315 0 0 FACTSET RESH SYS INC COM 303075105 2672768 62800 SH SOLE 62800 0 0 FAIRCHILD SEMICONDUCTOR CORP NOTE 5.000%11/0 303727AJ0 20312548 18505000 SH SOLE 18505000 0 0 FAIRCHILD SEMICONDUCTOR INTL COM 303726103 14695787 611560 SH SOLE 611560 0 0 FEDEX CORP COM 31428X106 111960591 1489630 SH SOLE 1489630 0 0 FINISAR NOTE 5.250%10/1 31787AAC5 5082838 5045000 SH SOLE 5045000 0 0 FIRST DATA CORP COM 319963104 101282233 2402330 SH SOLE 2402330 0 0 FIRSTENERGY CORP COM 337932107 13037596 333613 SH SOLE 333613 0 0 FISERV INC COM 337738108 740439 20700 SH SOLE 20700 0 0 FISHER SCIENTIFIC INTL INC COM NEW 338032204 7270784 132100 SH SOLE 132100 0 0 FISHER SCIENTIFIC INTL INC NOTE 3.250% 3/0 338032AX3 6786078 6330000 SH SOLE 6330000 0 0 FLEETBOSTON FINL CORP COM 339030108 28137932 626680 SH SOLE 626680 0 0 FLIR SYS INC COM 302445101 12190280 319787 SH SOLE 319787 0 0 FLOWSERVE CORP COM 34354P105 131985 6300 SH SOLE 6300 0 0 FLUOR CORP NEW COM 343412102 2205330 57000 SH SOLE 57000 0 0 FORD MTR CO CAP TR II PFD TR CV6.5% 345395206 42019913 788034 SH SOLE 788034 0 0 FOREST LABS INC COM 345838106 129435245 1807250 SH SOLE 1807250 0 0 FORTUNE BRANDS INC COM 349631101 8457960 110374 SH SOLE 110374 0 0 FOSSIL INC COM 349882100 7410226 222200 SH SOLE 222200 0 0 FREDS INC CL A 356108100 5601068 230784 SH SOLE 230784 0 0 FREEPORT-MCMORAN COPPER & GO NOTE 7.000% 2/1 35671DAK1 8492449 5220000 SH SOLE 5220000 0 0 FRESH DEL MONTE PRODUCE INC ORD G36738105 5486880 213000 SH SOLE 213000 0 0 GANNETT INC COM 364730101 100024798 1134840 SH SOLE 1134840 0 0 GAP INC DEL COM 364760108 65853225 3004253 SH SOLE 3004253 0 0 GAP INC DEL NOTE 5.750% 3/1 364760AJ7 8062665 5489000 SH SOLE 5489000 0 0 GARMIN LTD ORD G37260109 2050080 48000 SH SOLE 48000 0 0 GENENTECH INC COM NEW 368710406 49343866 466300 SH SOLE 466300 0 0 GENERAL ELEC CO COM 369604103 97879166 3207050 SH SOLE 3207050 0 0 GENERAL GROWTH PPTYS INC COM 370021107 1806956 51407 SH SOLE 51407 0 0 GENERAL MLS INC COM 370334104 45444474 973532 SH SOLE 973532 0 0 GENERAL MLS INC DBCV 10/2 370334AU8 7126794 9985000 SH SOLE 9985000 0 0 GENERAL MTRS CORP DEB SR CONV B 370442733 16509704 633642 SH SOLE 633642 0 0 GENERAL MTRS CORP DEB SR CV C 33 370442717 37987499 1231977 SH SOLE 1231977 0 0 GENZYME CORP SDCV 3.000% 5/1 372917AK0 16517872 16203000 SH SOLE 16203000 0 0 GETTY IMAGES INC COM 374276103 2806960 52000 SH SOLE 52000 0 0 GILEAD SCIENCES INC COM 375558103 4748481 85144 SH SOLE 85144 0 0 GLAXOSMITHKLINE PLC SPONSORED ADR 37733W105 9410223 235550 SH SOLE 235550 0 0 GLOBAL IMAGING SYSTEMS COM 37934A100 10384771 312606 SH SOLE 312606 0 0 GLOBAL INDS LTD COM 379336100 877500 150000 SH SOLE 150000 0 0 GLOBALSANTAFE CORP SHS G3930E101 6764633 243595 SH SOLE 243595 0 0 GOLDMAN SACHS GROUP INC COM 38141G104 42218028 404581 SH SOLE 404581 0 0 GOLDMAN SACHS GROUP INC NOTE 8/2 38141GCH5 17470800 16560000 SH SOLE 16560000 0 0 GOODYEAR TIRE & RUBR CO COM 382550101 4019351 470650 SH SOLE 470650 0 0 GREY WOLF INC COM 397888108 4579668 1106200 SH SOLE 1106200 0 0 GTECH HLDGS CORP DBCV 1.750%12/1 400518AB2 6854238 3155000 SH SOLE 3155000 0 0 GUITAR CTR MGMT INC COM 402040109 6870157 184980 SH SOLE 184980 0 0 HALLIBURTON CO COM 406216101 6324159 208100 SH SOLE 208100 0 0 HALLIBURTON CO NOTE 3.125% 7/1 406216AM3 17188801 14955000 SH SOLE 14955000 0 0 HARLEY DAVIDSON INC COM 412822108 146123597 2739475 SH SOLE 2739475 0 0 HARMAN INTL INDS INC COM 413086109 18823410 236475 SH SOLE 236475 0 0 HARRAHS ENTMT INC COM 413619107 4561359 83100 SH SOLE 83100 0 0 HARTFORD FINL SVCS GROUP INC COM 416515104 73776831 1158192 SH SOLE 1158192 0 0 HCA INC COM 404119109 119821769 2949822 SH SOLE 2949822 0 0 HEALTH MGMT ASSOC INC NEW NOTE 1.500% 8/0 421933AF9 10718048 9446000 SH SOLE 9446000 0 0 HEALTH MGMT ASSOC INC NEW CL A 421933102 2072653 89300 SH SOLE 89300 0 0 HEINZ H J CO COM 423074103 273336 7330 SH SOLE 7330 0 0 HEWLETT PACKARD CO COM 428236103 125746876 5505555 SH SOLE 5505555 0 0 HIBBETT SPORTING GOODS INC COM 428565105 9609449 251952 SH SOLE 251952 0 0 HIBERNIA CORP CL A 428656102 4731332 201419 SH SOLE 201419 0 0 HIGHWOODS PPTYS INC COM 431284108 8025345 306194 SH SOLE 306194 0 0 HOSPITALITY PPTYS TR COM SH BEN INT 44106M102 111360 2400 SH SOLE 2400 0 0 HOT TOPIC INC COM 441339108 9513537 359680 SH SOLE 359680 0 0 HOVNANIAN ENTERPRISES INC CL A 442487203 15939783 369404 SH SOLE 369404 0 0 HUGHES SUPPLY INC COM 444482103 10254156 195690 SH SOLE 195690 0 0 ICN PHARMACEUTICALS INC NEW NOTE 6.500% 7/1 448924AM2 32976167 29015000 SH SOLE 29015000 0 0 ICOS CORP COM 449295104 1682070 45400 SH SOLE 45400 0 0 IDEXX LABS INC COM 45168D104 3070980 54000 SH SOLE 54000 0 0 ILEX ONCOLOGY INC COM 451923106 5453138 227974 SH SOLE 227974 0 0 ILLINOIS TOOL WKS INC COM 452308109 123480747 1558510 SH SOLE 1558510 0 0 IMAGISTICS INTERNATIONAL INC COM 45247T104 692995 15732 SH SOLE 15732 0 0 IMC GLOBAL INC COM 449669100 1006720 70400 SH SOLE 70400 0 0 IMCLONE SYS INC COM 45245W109 1281672 25200 SH SOLE 25200 0 0 INCO LTD DBCV 1.000% 3/1 453258AT2 9802000 7540000 SH SOLE 7540000 0 0 INDYMAC BANCORP INC COM 456607100 5265679 145100 SH SOLE 145100 0 0 INTEGRA LIFESCIENCES HLDGS C COM NEW 457985208 7065519 230753 SH SOLE 230753 0 0 INTEGRATED CIRCUIT SYS INC COM 45811K208 10233741 408859 SH SOLE 408859 0 0 INTEL CORP COM 458140100 132364040 4866325 SH SOLE 4866325 0 0 INTER TEL INC COM 458372109 9784491 325495 SH SOLE 325495 0 0 INTERACTIVECORP COM 45840Q101 99254990 3141975 SH SOLE 3141975 0 0 INTERDIGITAL COMMUNICATIONS COM 45866A105 2025932 115900 SH SOLE 115900 0 0 INTERNATIONAL BUSINESS MACHS COM 459200101 152112938 1656282 SH SOLE 1656282 0 0 INTERNATIONAL GAME TECHNOLOG COM 459902102 101760216 2263350 SH SOLE 2263350 0 0 INTERNATIONAL GAME TECHNOLOG DBCV 1/2 459902AL6 10776508 11014000 SH SOLE 11014000 0 0 INTERPUBLIC GROUP COS INC PFD CONV SER A 460690308 4584838 76600 SH SOLE 76600 0 0 INTERPUBLIC GROUP COS INC NOTE 4.500% 3/1 460690AT7 5680125 3740000 SH SOLE 3740000 0 0 INTERSIL CORP CL A 46069S109 3178554 142600 SH SOLE 142600 0 0 INTL PAPER CO DBCV 6/2 460146BM4 18132569 32315000 SH SOLE 32315000 0 0 INTL PAPER CO COM 460146103 21025914 497537 SH SOLE 497537 0 0 INVESTORS FINL SERVICES CORP COM 461915100 9975615 241424 SH SOLE 241424 0 0 INVITROGEN CORP NOTE 2.250%12/1 46185RAD2 4719702 4300000 SH SOLE 4300000 0 0 ISHARES INC MSCI UTD KINGD 464286699 7159445 451700 SH SOLE 451700 0 0 ISHARES TR RUSSELL1000VAL 464287598 36119739 602900 SH SOLE 602900 0 0 IXIA COM 45071R109 4769557 440804 SH SOLE 440804 0 0 JACOBS ENGR GROUP INC DEL COM 469814107 4812786 107910 SH SOLE 107910 0 0 JARDEN CORP COM 471109108 9292967 261700 SH SOLE 261700 0 0 JEFFERIES GROUP INC NEW COM 472319102 10972085 310560 SH SOLE 310560 0 0 JOHNSON & JOHNSON COM 478160104 102384254 2018617 SH SOLE 2018617 0 0 JOY GLOBAL INC COM 481165108 3115461 110989 SH SOLE 110989 0 0 K V PHARMACEUTICAL CO CL A 482740206 4566662 185939 SH SOLE 185939 0 0 KB HOME COM 48666K109 5918600 73250 SH SOLE 73250 0 0 KENNAMETAL INC COM 489170100 82540 2000 SH SOLE 2000 0 0 KERR MCGEE CORP DECS 080404 492386305 10004070 196169 SH SOLE 196169 0 0 KERR MCGEE CORP COM 492386107 95938114 1862876 SH SOLE 1862876 0 0 KEY ENERGY SVCS INC COM 492914106 8169106 742646 SH SOLE 742646 0 0 KIMBERLY CLARK CORP COM 494368103 47169269 747532 SH SOLE 747532 0 0 KLA-TENCOR CORP COM 482480100 70218865 1394615 SH SOLE 1394615 0 0 KOHLS CORP COM 500255104 108417481 2243275 SH SOLE 2243275 0 0 KONINKLIJKE AHOLD N V SPON ADR NEW 500467303 1238738 150150 SH SOLE 150150 0 0 KRAFT FOODS INC CL A 50075N104 29380059 917840 SH SOLE 917840 0 0 KRISPY KREME DOUGHNUTS INC COM 501014104 1617414 47100 SH SOLE 47100 0 0 KROGER CO COM 501044101 24058661 1445833 SH SOLE 1445833 0 0 KROLL INC COM 501049100 7995474 297783 SH SOLE 297783 0 0 L-3 COMMUNICATIONS HLDGS INC COM 502424104 3057272 51400 SH SOLE 51400 0 0 LABONE INC NEW COM 50540L105 274 9 SH SOLE 9 0 0 LABORATORY CORP AMER HLDGS COM NEW 50540R409 2358768 60096 SH SOLE 60096 0 0 LABORATORY CORP AMER HLDGS NOTE 9/1 50540RAC6 62293360 80625000 SH SOLE 80625000 0 0 LAM RESEARCH CORP NOTE 4.000% 6/0 512807AE8 28207682 30000000 SH SOLE 30000000 0 0 LAMAR ADVERTISING CO NOTE 2.875%12/3 512815AG6 10832911 9844000 SH SOLE 9844000 0 0 LEAR CORP COM 521865105 92940 1500 SH SOLE 1500 0 0 LEGG MASON INC COM 524901105 4592610 49500 SH SOLE 49500 0 0 LEGG MASON INC NOTE 6/0 524901AG0 17123708 22985000 SH SOLE 22985000 0 0 LEHMAN BROS HLDGS INC NOTE 0.250% 5/0 524908FN5 35989850 32570000 SH SOLE 32570000 0 0 LEHMAN BROS HLDGS INC COM 524908100 1284485 15500 SH SOLE 15500 0 0 LEHMAN BROS HLDGS INC NOTE 0.250% 5/1 524908FP0 6772781 5175000 SH SOLE 5175000 0 0 LEHMAN BROS HLDGS INC MTN BE MTNF 0.250% 9/2 52517PVE8 40247238 35855000 SH SOLE 35855000 0 0 LENNAR CORP CL A 526057104 106739507 1975560 SH SOLE 1975560 0 0 LENNAR CORP CL B 526057302 295583 5806 SH SOLE 5806 0 0 LIBERTY MEDIA CORP DEB 3.250% 3/1 530715AR2 1202945 1156000 SH SOLE 1156000 0 0 LIBERTY MEDIA CORP NEW DEB 0.750% 3/3 530718AF2 85125 75000 SH SOLE 75000 0 0 LIMITED BRANDS INC COM 532716107 830000 41500 SH SOLE 41500 0 0 LINCARE HLDGS INC DBCV 3.000% 6/1 532791AB6 54829587 54660000 SH SOLE 54660000 0 0 LLOYDS TSB GROUP PLC SPONSORED ADR 539439109 1038095 33390 SH SOLE 33390 0 0 LOEWS CORP NOTE 3.125% 9/1 540424AL2 10401650 9870000 SH SOLE 9870000 0 0 LOWES COS INC COM 548661107 100362124 1788030 SH SOLE 1788030 0 0 LOWES COS INC NOTE 0.861%10/1 548661CG0 8343038 7770000 SH SOLE 7770000 0 0 LSI LOGIC CORP COM 502161102 72852 7800 SH SOLE 7800 0 0 LSI LOGIC CORP NOTE 4.000%11/0 502161AG7134938677130256000 SH SOLE 130256000 0 0 M D C HLDGS INC COM 552676108 13446189 190997 SH SOLE 190997 0 0 MACK CALI RLTY CORP COM 554489104 6071024 135182 SH SOLE 135182 0 0 MANDALAY RESORT GROUP DBCV 3/2 562567AK3 148225 110000 SH SOLE 110000 0 0 MANHATTAN ASSOCS INC COM 562750109 7911863 284598 SH SOLE 284598 0 0 MANITOWOC INC COM 563571108 70992 2400 SH SOLE 2400 0 0 MARCONI CORP PLC NEW SPONSORED ADR 56630M101 36584017 1496550 SH SOLE 1496550 0 0 MARSH & MCLENNAN COS INC COM 571748102 33124409 715430 SH SOLE 715430 0 0 MARSHALL & ILSLEY CORP COM 571834100 5119247 135394 SH SOLE 135394 0 0 MAXIM INTEGRATED PRODS INC COM 57772K101 96552159 2050375 SH SOLE 2050375 0 0 MAXTOR CORP COM NEW 577729205 1502860 184400 SH SOLE 184400 0 0 MCGRAW HILL COS INC COM 580645109 1096416 14400 SH SOLE 14400 0 0 MEADWESTVACO CORP COM 583334107 30038378 1061802 SH SOLE 1061802 0 0 MEDIACOM COMMUNICATIONS CORP CL A 58446K105 2165400 270000 SH SOLE 270000 0 0 MEDICIS PHARMACEUTICAL CORP CL A NEW 584690309 11338240 283456 SH SOLE 283456 0 0 MEDTRONIC INC DBCV 1.250% 9/1 585055AB2 33413087 31905000 SH SOLE 31905000 0 0 MEDTRONIC INC COM 585055106 84955415 1779171 SH SOLE 1779171 0 0 MEMC ELECTR MATLS INC COM 552715104 1751310 191400 SH SOLE 191400 0 0 MERCK & CO INC COM 589331107 76511582 1731423 SH SOLE 1731423 0 0 MERCURY INTERACTIVE CORP COM 589405109 2437120 54400 SH SOLE 54400 0 0 MERITAGE CORP COM 59001A102 1648350 22200 SH SOLE 22200 0 0 MERRILL LYNCH & CO INC COM 590188108 52418458 880095 SH SOLE 880095 0 0 MERRILL LYNCH CO INC MTN BE MTNF 0.250% 7/2 59018YRQ6 13975000 13000000 SH SOLE 13000000 0 0 MGI PHARMA INC COM 552880106 6249806 102021 SH SOLE 102021 0 0 MICHAELS STORES INC COM 594087108 6422702 132100 SH SOLE 132100 0 0 MICROS SYS INC COM 594901100 8632843 191203 SH SOLE 191203 0 0 MICROSOFT CORP COM 594918104 133710055 5354828 SH SOLE 5354828 0 0 MINERALS TECHNOLOGIES INC COM 603158106 125620 2200 SH SOLE 2200 0 0 MINORPLANET SYS USA INC COM NEW 604363200 1497964 2139949 SH SOLE 2139949 0 0 MKS INSTRUMENT INC COM 55306N104 6046798 251845 SH SOLE 251845 0 0 MOHAWK INDS INC COM 608190104 5237460 63600 SH SOLE 63600 0 0 MOLINA HEALTHCARE INC COM 60855R100 4398000 150000 SH SOLE 150000 0 0 MORGAN STANLEY COM NEW 617446448 123944771 2163085 SH SOLE 2163085 0 0 MOTOROLA INC EQTY UNIT 7% 620076208 5914291 119500 SH SOLE 119500 0 0 MOTOROLA INC COM 620076109 34535318 1962234 SH SOLE 1962234 0 0 MOVIE GALLERY INC COM 624581104 2084376 106400 SH SOLE 106400 0 0 MSC INDL DIRECT INC CL A 553530106 7943279 265218 SH SOLE 265218 0 0 NABORS INDS INC DBCV 2/0 629568AF3 7729650 11580000 SH SOLE 11580000 0 0 NATIONAL-OILWELL INC COM 637071101 2335928 82600 SH SOLE 82600 0 0 NAVISTAR FINL CORP NOTE 4.750% 4/0 638902AM8 22817188 21250000 SH SOLE 21250000 0 0 NAVISTAR INTL CORP NEW NOTE 2.500%12/1 63934EAG3 13746170 9006000 SH SOLE 9006000 0 0 NAVISTAR INTL CORP NEW COM 63934E108 136056482 2967426 SH SOLE 2967426 0 0 NEKTAR THERAPEUTICS COM 640268108 7007951 324748 SH SOLE 324748 0 0 NETFLIX COM INC COM 64110L106 15299272 448396 SH SOLE 448396 0 0 NETIQ CORP COM 64115P102 36668 2621 SH SOLE 2621 0 0 NEUROCRINE BIOSCIENCES INC COM 64125C109 8177247 138363 SH SOLE 138363 0 0 NEW CENTURY FINANCIAL CORP COM 64352D101 5307608 109300 SH SOLE 109300 0 0 NEW YORK CMNTY BANCORP INC COM 649445103 113790266 3319436 SH SOLE 3319436 0 0 NEXTEL COMMUNICATIONS INC NOTE 6.000% 6/0 65332VBC6 539119 330000 SH SOLE 330000 0 0 NII HLDGS INC CL B NEW 62913F201 17496854 499482 SH SOLE 499482 0 0 NOBLE ENERGY INC COM 655044105 89490 1900 SH SOLE 1900 0 0 NOKIA CORP SPONSORED ADR 654902204 3842046 189450 SH SOLE 189450 0 0 NORFOLK SOUTHERN CORP COM 655844108 25801 1168 SH SOLE 1168 0 0 NORTEL NETWORKS CORP NEW NOTE 4.250% 9/0 656568AB8109719862103098000 SH SOLE 103098000 0 0 NORTHROP GRUMMAN CORP COM 666807102 45413547 461426 SH SOLE 461426 0 0 NOVARTIS A G SPONSORED ADR 66987V109 8383680 196800 SH SOLE 196800 0 0 NOVELLUS SYS INC COM 670008101 1610164 50650 SH SOLE 50650 0 0 NPS PHARMACEUTICALS INC COM 62936P103 5906109 206870 SH SOLE 206870 0 0 NVIDIA CORP COM 67066G104 2333769 88100 SH SOLE 88100 0 0 ODYSSEY HEALTHCARE INC COM 67611V101 9031375 479117 SH SOLE 479117 0 0 OLIN CORP COM PAR $1 680665205 6872768 385029 SH SOLE 385029 0 0 OMNICOM GROUP INC COM 681919106 122151735 1522140 SH SOLE 1522140 0 0 OMNICOM GROUP INC NOTE 2/0 681919AK2 312325 310000 SH SOLE 310000 0 0 ORACLE CORP COM 68389X105 104423359 8694701 SH SOLE 8694701 0 0 OSHKOSH TRUCK CORP COM 688239201 4915525 88250 SH SOLE 88250 0 0 OSI PHARMACEUTICALS INC COM 671040103 4275226 111334 SH SOLE 111334 0 0 OWENS ILL INC COM NEW 690768403 18641889 1329664 SH SOLE 1329664 0 0 OXFORD HEALTH PLANS INC COM 691471106 5505395 112700 SH SOLE 112700 0 0 P F CHANGS CHINA BISTRO INC COM 69333Y108 6870212 136557 SH SOLE 136557 0 0 PACIFICARE HEALTH SYS DEL COM 695112102 3575320 90400 SH SOLE 90400 0 0 PALL CORP COM 696429307 88491 3900 SH SOLE 3900 0 0 PAN PACIFIC RETAIL PPTYS INC COM 69806L104 114620 2200 SH SOLE 2200 0 0 PANERA BREAD CO CL A 69840W108 6902762 177358 SH SOLE 177358 0 0 PARKER DRILLING CO NOTE 5.500% 8/0 701081AD3 12984712 7792000 SH SOLE 7792000 0 0 PARKER DRILLING CO COM 701081101 3152174 755917 SH SOLE 755917 0 0 PATTERSON DENTAL CO COM 703412106 4720368 68800 SH SOLE 68800 0 0 PAYLESS SHOESOURCE INC COM 704379106 5927165 424582 SH SOLE 424582 0 0 PENN NATL GAMING INC COM 707569109 1193955 41500 SH SOLE 41500 0 0 PEPSICO INC COM 713448108 91775263 1704276 SH SOLE 1704276 0 0 PETCO ANIMAL SUPPLIES COM NEW 716016209 8528282 302636 SH SOLE 302636 0 0 PFIZER INC COM 717081103 136569591 3896422 SH SOLE 3896422 0 0 PG&E CORP COM 69331C108 4066838 140381 SH SOLE 140381 0 0 PHARMACEUTICAL PROD DEV INC COM 717124101 1899113 63750 SH SOLE 63750 0 0 PINNACLE WEST CAP CORP COM 723484101 94440 2400 SH SOLE 2400 0 0 PITNEY BOWES INC COM 724479100 15427334 362059 SH SOLE 362059 0 0 PLACER DOME INC COM 725906101 1929978 107400 SH SOLE 107400 0 0 PMA CAP CORP DBCV 4.250% 9/3 693419AA1 21724650 23205000 SH SOLE 23205000 0 0 PMA CAP CORP CL A 693419202 2197644 362050 SH SOLE 362050 0 0 PMI GROUP INC DBCV 2.500% 7/1 69344MAE1 269500 245000 SH SOLE 245000 0 0 PMI GROUP INC COM 69344M101 8420010 225375 SH SOLE 225375 0 0 PNC FINL SVCS GROUP INC COM 693475105 53377884 963152 SH SOLE 963152 0 0 POLYONE CORP COM 73179P106 981633 147614 SH SOLE 147614 0 0 PPL CORP COM 69351T106 12406802 272079 SH SOLE 272079 0 0 PRAXAIR INC COM 74005P104 113840173 3066815 SH SOLE 3066815 0 0 PREMCOR INC COM 74045Q104 16356031 528125 SH SOLE 528125 0 0 PREMIERE TECHNOLOGIES INC NOTE 5.750% 7/0 74058FAC6 5917056 6009000 SH SOLE 6009000 0 0 PRIDE INTL INC SDCV 4/2 741932AB3 272644 555000 SH SOLE 555000 0 0 PRIDE INTL INC DEL COM 74153Q102 53339165 3126563 SH SOLE 3126563 0 0 PRIDE INTL INC DEL FRNT 2.500% 3/0 74153QAB8 45188446 38387000 SH SOLE 38387000 0 0 PROCTER & GAMBLE CO COM 742718109 11551903 110144 SH SOLE 110144 0 0 PROGRESS SOFTWARE CORP COM 743312100 8108260 337985 SH SOLE 337985 0 0 PROVIDIAN FINL CORP COM 74406A102 2140540 163400 SH SOLE 163400 0 0 PROVIDIAN FINL CORP NOTE 3.250% 8/1 74406AAA0 43849012 42675000 SH SOLE 42675000 0 0 PROVINCE HEALTHCARE CO NOTE 4.250%10/1 743977AE0 27089136 24735000 SH SOLE 24735000 0 0 PRUDENTIAL FINL INC COM 744320102 44372234 990894 SH SOLE 990894 0 0 PSS WORLD MED INC COM 69366A100 6569246 587064 SH SOLE 587064 0 0 QLOGIC CORP COM 747277101 4740236 143600 SH SOLE 143600 0 0 QUEST DIAGNOSTICS INC COM 74834L100 4342694 52429 SH SOLE 52429 0 0 QUEST DIAGNOSTICS INC DBCV 1.750%11/3 74834LAF7 21185453 19569000 SH SOLE 19569000 0 0 RADWARE LTD ORD M81873107 8584112 323197 SH SOLE 323197 0 0 RAYTHEON CO COM NEW 755111507 50476549 1610611 SH SOLE 1610611 0 0 REGAL ENTMT GROUP CL A 758766109 4531902 206183 SH SOLE 206183 0 0 RELIANT RES INC NOTE 5.000% 8/1 75952BAD7 9324130 7590000 SH SOLE 7590000 0 0 RESPIRONICS INC COM 761230101 7956336 147285 SH SOLE 147285 0 0 ROPER INDS INC NEW COM 776696106 12885259 267052 SH SOLE 267052 0 0 ROWAN COS INC COM 779382100 27404198 1299393 SH SOLE 1299393 0 0 ROYAL DUTCH PETE CO NY REG EUR .56 780257804 2904552 61200 SH SOLE 61200 0 0 RYANAIR HLDGS PLC SPONSORED ADR 783513104 2687334 78600 SH SOLE 78600 0 0 RYLAND GROUP INC COM 783764103 8016552 90246 SH SOLE 90246 0 0 SAFEWAY INC COM NEW 786514208 6242120 303310 SH SOLE 303310 0 0 SAP AKTIENGESELLSCHAFT SPONSORED ADR 803054204 617167 15700 SH SOLE 15700 0 0 SBC COMMUNICATIONS INC COM 78387G103 18461344 752296 SH SOLE 752296 0 0 SCANA CORP NEW COM 80589M102 84840 2400 SH SOLE 2400 0 0 SCANSOURCE INC COM 806037107 9133469 190519 SH SOLE 190519 0 0 SCHEIN HENRY INC COM 806407102 10762061 150688 SH SOLE 150688 0 0 SCHLUMBERGER LTD DBCV 1.500% 6/0 806857AC2 20956057 18864000 SH SOLE 18864000 0 0 SCHOLASTIC CORP COM 807066105 29975 1100 SH SOLE 1100 0 0 SCIENTIFIC GAMES CORP CL A 80874P109 7464282 398733 SH SOLE 398733 0 0 SELECT COMFORT CORP COM 81616X103 9841243 356696 SH SOLE 356696 0 0 SEMTECH CORP COM 816850101 1971256 86345 SH SOLE 86345 0 0 SERENA SOFTWARE INC COM 817492101 8706788 427852 SH SOLE 427852 0 0 SERVICE CORP INTL COM 817565104 1015173 135900 SH SOLE 135900 0 0 SHARPER IMAGE CORP COM 820013100 7213017 221394 SH SOLE 221394 0 0 SIEBEL SYS INC COM 826170102 1564209 135900 SH SOLE 135900 0 0 SIERRA PAC RES NEW COM 826428104 2266250 306250 SH SOLE 306250 0 0 SIGMATEL INC COM 82661W107 5567963 248024 SH SOLE 248024 0 0 SILICON GRAPHICS INC COM 827056102 3830701 1508150 SH SOLE 1508150 0 0 SILICON LABORATORIES INC COM 826919102 5742768 108600 SH SOLE 108600 0 0 SIMPLETECH INC COM 828823104 3384375 712500 SH SOLE 712500 0 0 SINCLAIR BROADCAST GROUP INC CL A 829226109 3642250 291380 SH SOLE 291380 0 0 SKYWEST INC COM 830879102 9193586 477827 SH SOLE 477827 0 0 SL GREEN RLTY CORP COM 78440X101 124020 2600 SH SOLE 2600 0 0 SMITH & WOLLENSKY RESTAURANT COM 831758107 2991492 427356 SH SOLE 427356 0 0 SMURFIT-STONE CONTAINER CORP COM 832727101 111092665 6315764 SH SOLE 6315764 0 0 SOUTHERN CO COM 842587107 423950 13900 SH SOLE 13900 0 0 SOUTHTRUST CORP COM 844730101 13650248 411641 SH SOLE 411641 0 0 SOVEREIGN BANCORP INC COM 845905108 10650859 497239 SH SOLE 497239 0 0 SPDR TR UNIT SER 1 78462F103 6336960 56000 SH SOLE 56000 0 0 SPX CORP COM 784635104 4818606 105950 SH SOLE 105950 0 0 ST JUDE MED INC COM 790849103 2573970 35700 SH SOLE 35700 0 0 ST PAUL COS INC COM 792860108 14337223 358341 SH SOLE 358341 0 0 STATE STR CORP UNIT 99/99/9999 857477202 7251411 28772 SH SOLE 28772 0 0 STATION CASINOS INC COM 857689103 13930688 315388 SH SOLE 315388 0 0 STERICYCLE INC COM 858912108 3268838 68300 SH SOLE 68300 0 0 STORAGE TECHNOLOGY CORP COM PAR $0.10 862111200 2251169 80890 SH SOLE 80890 0 0 STRAYER ED INC COM 863236105 5825106 49800 SH SOLE 49800 0 0 SUNOCO INC COM 86764P109 954414 15300 SH SOLE 15300 0 0 SUPERIOR ENERGY SVCS INC COM 868157108 4636417 459962 SH SOLE 459962 0 0 SUPERVALU INC NOTE 11/0 868536AP8 32199488 92495000 SH SOLE 92495000 0 0 SYMANTEC CORP COM 871503108 146990925 3174750 SH SOLE 3174750 0 0 SYNOPSYS INC COM 871607107 4873447 168282 SH SOLE 168282 0 0 SYSCO CORP COM 871829107 101797883 2606860 SH SOLE 2606860 0 0 TARGET CORP COM 87612E106 120939381 2685155 SH SOLE 2685155 0 0 TARO PHARMACEUTICAL INDS LTD ORD M8737E108 14102588 243190 SH SOLE 243190 0 0 TELIK INC COM 87959M109 7836072 291955 SH SOLE 291955 0 0 TELLABS INC COM 879664100 1607916 186317 SH SOLE 186317 0 0 TEMPLE INLAND INC COM 879868107 51824534 818196 SH SOLE 818196 0 0 TENNECO AUTOMOTIVE INC COM 880349105 2324808 183200 SH SOLE 183200 0 0 TEREX CORP NEW COM 880779103 136789 3700 SH SOLE 3700 0 0 TESSERA TECHNOLOGIES INC COM 88164L100 6526688 356655 SH SOLE 356655 0 0 TEVA PHARMACEUTICAL FIN NV NOTE 0.750% 8/1 88163XAB1 51653174 34632000 SH SOLE 34632000 0 0 TEVA PHARMACEUTICAL INDS LTD ADR 881624209 113998498 1797800 SH SOLE 1797800 0 0 TEVA PHARMACEUTICALS FIN B V DBCV 0.375%11/1 88164MAB4 98394 65000 SH SOLE 65000 0 0 TEXAS INSTRS INC COM 882508104 124385069 4256847 SH SOLE 4256847 0 0 TIME WARNER INC COM 887317105 1333626 79100 SH SOLE 79100 0 0 TIMKEN CO COM 887389104 12753200 548997 SH SOLE 548997 0 0 TJX COS INC NEW COM 872540109 99568205 4054080 SH SOLE 4054080 0 0 TORO CO COM 891092108 8754400 141200 SH SOLE 141200 0 0 TRANSOCEAN INC ORD G90078109 91170012 3268914 SH SOLE 3268914 0 0 TRAVELERS PPTY CAS CORP NEW NT CV JR 2032 89420G307 19393072 785213 SH SOLE 785213 0 0 TRAVELERS PPTY CAS CORP NEW CL B 89420G406 54574529 3160077 SH SOLE 3160077 0 0 TRIBUNE CO NEW SB DB EXCH2%29 896047305 315000 3600 SH SOLE 3600 0 0 TRICO MARINE SERVICES INC COM 896106101 627904 527650 SH SOLE 527650 0 0 TRIMBLE NAVIGATION LTD COM 896239100 7292310 318020 SH SOLE 318020 0 0 TRW AUTOMOTIVE HLDGS CORP COM 87264S106 4560815 209500 SH SOLE 209500 0 0 TYCO INTL GROUP S A DBCV 2.750% 1/1 902118BF4 25087609 18305000 SH SOLE 18305000 0 0 TYCO INTL GROUP S A DBCV 3.125% 1/1 902118BG2 21676612 14639000 SH SOLE 14639000 0 0 TYCO INTL GROUP S A DBCV 3.125% 1/1 902118BE7 526050 360000 SH SOLE 360000 0 0 UBS AG NAMEN AKT H8920M855 4685942 62907 SH SOLE 62907 0 0 UCBH HOLDINGS INC COM 90262T308 13245712 330812 SH SOLE 330812 0 0 UNITED DEFENSE INDS INC COM 91018B104 2234837 70300 SH SOLE 70300 0 0 UNITED TECHNOLOGIES CORP COM 913017109 126216771 1462535 SH SOLE 1462535 0 0 UNITED THERAPEUTICS CORP DEL COM 91307C102 1217713 51100 SH SOLE 51100 0 0 UNITEDGLOBALCOM CL A 913247508 14829439516422589 SH SOLE 16422589 0 0 UNITEDHEALTH GROUP INC COM 91324P102 165084132 2561827 SH SOLE 2561827 0 0 UNIVERSAL HLTH SVCS INC CL B 913903100 23638333 513096 SH SOLE 513096 0 0 UNOCAL CORP COM 915289102 23178654 621745 SH SOLE 621745 0 0 UNUMPROVIDENT CORP COM 91529Y106 1463000 100000 SH SOLE 100000 0 0 US BANCORP DEL COM NEW 902973304 24516703 886680 SH SOLE 886680 0 0 USF&G CORP NOTE 3/0 903290AD6 4249375 5230000 SH SOLE 5230000 0 0 UTSTARCOM INC COM 918076100 1722724 59900 SH SOLE 59900 0 0 VALERO ENERGY CORP NEW COM 91913Y100 41333006 689343 SH SOLE 689343 0 0 VARIAN MED SYS INC COM 92220P105 3064005 35500 SH SOLE 35500 0 0 VARIAN SEMICONDUCTOR EQUIPMN COM 922207105 4221000 100500 SH SOLE 100500 0 0 VCA ANTECH INC COM 918194101 9407710 264039 SH SOLE 264039 0 0 VERITAS SOFTWARE CO COM 923436109 88951812 3305530 SH SOLE 3305530 0 0 VERIZON COMMUNICATIONS COM 92343V104 57793784 1581658 SH SOLE 1581658 0 0 VERIZON GLOBAL FDG CORP NOTE 5/1 92344GAN6 13160019 21355000 SH SOLE 21355000 0 0 VERTEX PHARMACEUTICALS INC NOTE 5.000% 9/1 92532FAD2 14309609 13235000 SH SOLE 13235000 0 0 VIACOM INC CL B 925524308 97051965 2475184 SH SOLE 2475184 0 0 VISTEON CORP COM 92839U107 3799290 397000 SH SOLE 397000 0 0 VODAFONE GROUP PLC NEW SPONSORED ADR 92857W100 2628522 109980 SH SOLE 109980 0 0 WABASH NATL CORP COM 929566107 7129135 302082 SH SOLE 302082 0 0 WACHOVIA CORP 2ND NEW COM 929903102 53916191 1147153 SH SOLE 1147153 0 0 WAL MART STORES INC COM 931142103 108416141 1816320 SH SOLE 1816320 0 0 WALGREEN CO COM 931422109 102670882 3115960 SH SOLE 3115960 0 0 WARNACO GROUP INC COM NEW 934390402 1934667 96300 SH SOLE 96300 0 0 WASHINGTON MUT INC COM 939322103 37302828 873398 SH SOLE 873398 0 0 WCI CMNTYS INC COM 92923C104 3480221 139042 SH SOLE 139042 0 0 WEATHERFORD INTERNATIONAL LT COM G95089101 34353221 817350 SH SOLE 817350 0 0 WEINGARTEN RLTY INVS SH BEN INT 948741103 114180 3300 SH SOLE 3300 0 0 WELLPOINT HEALTH NETWORK NEW COM 94973H108 141129363 1241025 SH SOLE 1241025 0 0 WELLS FARGO & CO NEW COM 949746101 192678 3400 SH SOLE 3400 0 0 WESTCORP INC COM 957907108 13287502 301509 SH SOLE 301509 0 0 WHOLE FOODS MKT INC SDCV 3/0 966837AC0 20508124 25308000 SH SOLE 25308000 0 0 WILSON GREATBATCH TECHNOLOGI COM 972232102 6698667 184638 SH SOLE 184638 0 0 WILSON GREATBATCH TECHNOLOGI SDCV 2.250% 6/1 972232AB8 13573503 11685000 SH SOLE 11685000 0 0 WINNEBAGO INDS INC COM 974637100 6356903 203943 SH SOLE 203943 0 0 WINTRUST FINANCIAL CORP COM 97650W108 10789392 221867 SH SOLE 221867 0 0 WIRELESS FACILITIES INC COM 97653A103 6778384 615657 SH SOLE 615657 0 0 WMS INDS INC COM 929297109 8798110 283810 SH SOLE 283810 0 0 XEROX CORP PFD CONV SER C 984121509 7714978 56765 SH SOLE 56765 0 0 XL CAP LTD CL A G98255105 10624309 139720 SH SOLE 139720 0 0 XL CAP LTD DBCV 5/2 98372PAB4 16635663 25695000 SH SOLE 25695000 0 0 XM SATELLITE RADIO HLDGS INC CL A 983759101 621600 22200 SH SOLE 22200 0 0 YANKEE CANDLE INC COM 984757104 9007159 326583 SH SOLE 326583 0 0 YELLOW ROADWAY CORP COM 985577105 80808 2400 SH SOLE 2400 0 0