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: 09/30/04 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 33rd Floor 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/USA November 09, 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: 601 Form13F Information Table Value Total: $11,442,893,486 (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 ------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- -------- 3M CO COM 88579Y101 73018607 913075 SH SOLE 913075 0 0 A C MOORE ARTS & CRAFTS INC COM 00086T103 3467814 140227 SH SOLE 140227 0 0 ABITIBI-CONSOLIDATED INC COM 003924107 14793277 2344418 SH SOLE 2344418 0 0 ABLE LABORATORIES INC COM NEW 00371N407 2109554 110102 SH SOLE 110102 0 0 ACTEL CORP COM 004934105 1904879 125321 SH SOLE 125321 0 0 ACTIVISION INC NEW COM NEW 004930202 3319091 239300 SH SOLE 239300 0 0 ACTUANT CORP CL A NEW 00508X203 8969892 217663 SH SOLE 217663 0 0 ACXIOM CORP COM 005125109 1972794 83100 SH SOLE 83100 0 0 ADTRAN INC COM 00738A106 2029860 89500 SH SOLE 89500 0 0 ADVANCE AUTO PARTS INC COM 00751Y106 1589280 46200 SH SOLE 46200 0 0 ADVANCED MICRO DEVICES INC DBCV 4.750% 2/0 007903AE7 11188300 11464000 SH SOLE 11464000 0 0 ADVANCED MICRO DEVICES INC COM 007903107 16354507 1258039 SH SOLE 1258039 0 0 AEROPOSTALE COM 007865108 1752780 66900 SH SOLE 66900 0 0 AES CORP COM 00130H105 1498500 150000 SH SOLE 150000 0 0 AFFILIATED COMPUTER SERVICES CL A 008190100 2235150 40150 SH SOLE 40150 0 0 AFFILIATED MANAGERS GROUP COM 008252108 12853347 240070 SH SOLE 240070 0 0 AFFILIATED MANAGERS GROUP NOTE 5/0 008252AC2 7235959 6874000 SH SOLE 6874000 0 0 AFLAC INC COM 001055102 4863804 124045 SH SOLE 124045 0 0 AGCO CORP COM 001084102 14466937 639564 SH SOLE 639564 0 0 AGILENT TECHNOLOGIES INC COM 00846U101 36748269 1703675 SH SOLE 1703675 0 0 AGILENT TECHNOLOGIES INC DBCV 3.000%12/0 00846UAB7 9893384 9765000 SH SOLE 9765000 0 0 AIR PRODS & CHEMS INC COM 009158106 19220447 353447 SH SOLE 353447 0 0 AIRGAS INC COM 009363102 7221 300 SH SOLE 300 0 0 AKAMAI TECHNOLOGIES INC COM 00971T101 1383925 98500 SH SOLE 98500 0 0 ALCOA INC COM 013817101 49034076 1459782 SH SOLE 1459782 0 0 ALKERMES INC COM 01642T108 3093020 268026 SH SOLE 268026 0 0 ALLEGHENY TECHNOLOGIES INC COM 01741R102 967250 53000 SH SOLE 53000 0 0 ALLIANCE DATA SYSTEMS CORP COM 018581108 2060448 50800 SH SOLE 50800 0 0 ALLIANCE GAMING CORP COM NEW 01859P609 998478 66300 SH SOLE 66300 0 0 ALLIANT TECHSYSTEMS INC COM 018804104 5550089 91737 SH SOLE 91737 0 0 ALLIED WASTE INDS INC COM PAR$.01NEW 019589308 1315110 148600 SH SOLE 148600 0 0 ALLSTATE CORP COM 020002101 44584485 929037 SH SOLE 929037 0 0 ALLTEL CORP COM 020039103 43258098 787800 SH SOLE 787800 0 0 ALTERA CORP COM 021441100 745617 38100 SH SOLE 38100 0 0 ALTIRIS INC COM 02148M100 3110404 98275 SH SOLE 98275 0 0 ALZA CORP SDCV 7/2 02261WAB5 19553332 24917000 SH SOLE 24917000 0 0 AMDOCS LTD ORD G02602103 1006363 46100 SH SOLE 46100 0 0 AMERADA HESS CORP PFD CV ACES 7% 023551401 11849185 147012 SH SOLE 147012 0 0 AMERICA ONLINE INC DEL NOTE 12/0 02364JAC8 2505750 3900000 SH SOLE 3900000 0 0 AMERICAN EXPRESS CO COM 025816109 93570438 1818314 SH SOLE 1818314 0 0 AMERICAN INTL GROUP INC NOTE 0.500% 5/1 026874AN7 11760000 12250000 SH SOLE 12250000 0 0 AMERICAN INTL GROUP INC COM 026874107 35185233 517506 SH SOLE 517506 0 0 AMERICAN ITALIAN PASTA CO CL A 027070101 2722947 104128 SH SOLE 104128 0 0 AMERICAN REAL ESTATE PARTNR DEPOSITRY UNIT 029169109 3797798 179820 SH SOLE 179820 0 0 AMERICAN STD COS INC DEL COM 029712106 24643843 633355 SH SOLE 633355 0 0 AMGEN INC COM 031162100 76911529 1356943 SH SOLE 1356943 0 0 AMGEN INC NOTE 3/0 031162AE0 8997556 11855000 SH SOLE 11855000 0 0 AMIS HLDGS INC COM 031538101 1448641 107148 SH SOLE 107148 0 0 AMKOR TECHNOLOGY INC NOTE 5.750% 6/0 031652AN0 8544800 9710000 SH SOLE 9710000 0 0 AMPHENOL CORP NEW CL A 032095101 11600573 338604 SH SOLE 338604 0 0 AMSURG CORP COM 03232P405 1865894 88097 SH SOLE 88097 0 0 ANALOG DEVICES INC COM 032654105 39017139 1006115 SH SOLE 1006115 0 0 ANIXTER INTL INC COM 035290105 2561570 73000 SH SOLE 73000 0 0 APOGEE ENTERPRISES INC COM 037598109 1243025 96135 SH SOLE 96135 0 0 APPLIED FILMS CORP COM 038197109 3436002 190783 SH SOLE 190783 0 0 APPLIED MATLS INC COM 038222105 35000800 2122547 SH SOLE 2122547 0 0 APRIA HEALTHCARE GROUP INC COM 037933108 8944704 328246 SH SOLE 328246 0 0 AQUILA INC COM 03840P102 1100736 352800 SH SOLE 352800 0 0 ARCH CHEMICALS INC COM 03937R102 16869207 591902 SH SOLE 591902 0 0 ARCH COAL INC COM 039380100 14227586 400890 SH SOLE 400890 0 0 ARCTIC CAT INC COM 039670104 1541430 59400 SH SOLE 59400 0 0 ARTHROCARE CORP COM 043136100 5593980 190986 SH SOLE 190986 0 0 ASK JEEVES INC NOTE 6/0 045174AB5 4023756 1950000 SH SOLE 1950000 0 0 ASK JEEVES INC COM 045174109 1691107 51700 SH SOLE 51700 0 0 ASPEN TECHNOLOGY INC COM 045327103 328530 47000 SH SOLE 47000 0 0 ATHEROGENICS INC COM 047439104 2680515 81351 SH SOLE 81351 0 0 ATMI INC COM 00207R101 434196 21201 SH SOLE 21201 0 0 AUTODESK INC COM 052769106 5665395 116500 SH SOLE 116500 0 0 AUTOLIV INC COM 052800109 6302400 156000 SH SOLE 156000 0 0 AUTOZONE INC COM 053332102 463500 6000 SH SOLE 6000 0 0 AVAYA INC COM 053499109 67109599 4814175 SH SOLE 4814175 0 0 AVAYA INC NOTE 10/3 053499AA7 6153744 10856000 SH SOLE 10856000 0 0 AVID TECHNOLOGY INC COM 05367P100 2357561 50300 SH SOLE 50300 0 0 AVOCENT CORP COM 053893103 6609823 253931 SH SOLE 253931 0 0 AXIS CAPITAL HOLDINGS SHS G0692U109 613600 23600 SH SOLE 23600 0 0 BAKER HUGHES INC COM 057224107 62608133 1432025 SH SOLE 1432025 0 0 BANDAG INC COM 059815100 946080 21600 SH SOLE 21600 0 0 BANDAG INC CL A 059815308 543915 13500 SH SOLE 13500 0 0 BANK NEW YORK INC COM 064057102 5011406 171800 SH SOLE 171800 0 0 BANK OF AMERICA CORPORATION COM 060505104 89357422 2062253 SH SOLE 2062253 0 0 BANKNORTH GROUP INC NEW COM 06646R107 94500 2700 SH SOLE 2700 0 0 BANTA CORP COM 066821109 1637700 41200 SH SOLE 41200 0 0 BECKMAN COULTER INC COM 075811109 3866668 68900 SH SOLE 68900 0 0 BED BATH & BEYOND INC COM 075896100 76967995 2074050 SH SOLE 2074050 0 0 BELDEN CDT INC COM 077454106 1421360 65200 SH SOLE 65200 0 0 BELLSOUTH CORP COM 079860102 34649868 1277650 SH SOLE 1277650 0 0 BENCHMARK ELECTRS INC COM 08160H101 1361860 45700 SH SOLE 45700 0 0 BIOGEN IDEC INC COM 09062X103 782976 12800 SH SOLE 12800 0 0 BJ SVCS CO NOTE 0.500% 4/2 055482AF0 45480730 51647000 SH SOLE 51647000 0 0 BJ SVCS CO COM 055482103 62582781 1194100 SH SOLE 1194100 0 0 BMC SOFTWARE INC COM 055921100 29288009 1852499 SH SOLE 1852499 0 0 BOEING CO COM 097023105 21172459 410160 SH SOLE 410160 0 0 BOISE CASCADE CORP COM 097383103 28512474 856745 SH SOLE 856745 0 0 BORG WARNER INC COM 099724106 2125539 49100 SH SOLE 49100 0 0 BOSTON SCIENTIFIC CORP COM 101137107 76183268 1917525 SH SOLE 1917525 0 0 BOWATER INC COM 102183100 83489947 2186173 SH SOLE 2186173 0 0 BOYD GAMING CORP COM 103304101 2983900 106000 SH SOLE 106000 0 0 BP PLC SPONSORED ADR 055622104 14984305 260506 SH SOLE 260506 0 0 BRIGGS & STRATTON CORP COM 109043109 3077480 37900 SH SOLE 37900 0 0 BRINKER INTL INC DBCV 10/1 109641AC4 19270028 29344000 SH SOLE 29344000 0 0 BRISTOL MYERS SQUIBB CO COM 110122108 44594753 1884020 SH SOLE 1884020 0 0 BROCADE COMMUNICATIONS SYS I NOTE 2.000% 1/0 111621AB4 7112087 7460000 SH SOLE 7460000 0 0 BROOKLINE BANCORP INC DEL COM 11373M107 1306878 83400 SH SOLE 83400 0 0 BRUNSWICK CORP COM 117043109 11293568 246800 SH SOLE 246800 0 0 BURLINGTON NORTHN SANTA FE C COM 12189T104 48123604 1256163 SH SOLE 1256163 0 0 C D W CORP COM 12512N105 2602645 44850 SH SOLE 44850 0 0 CADBURY SCHWEPPES PLC ADR 127209302 53435805 1729304 SH SOLE 1729304 0 0 CAL DIVE INTL INC COM 127914109 9026108 253400 SH SOLE 253400 0 0 CALLAWAY GOLF CO COM 131193104 5363376 507415 SH SOLE 507415 0 0 CAMBREX CORP COM 132011107 2833766 129101 SH SOLE 129101 0 0 CANON INC ADR 138006309 7823278 165888 SH SOLE 165888 0 0 CAPITAL ONE FINL CORP COM 14040H105 85701830 1159700 SH SOLE 1159700 0 0 CAREMARK RX INC COM 141705103 76818874 2395350 SH SOLE 2395350 0 0 CELGENE CORP COM 151020104 2055519 35300 SH SOLE 35300 0 0 CENDANT CORP COM 151313103 72819324 3371265 SH SOLE 3371265 0 0 CENTEX CORP COM 152312104 5003109 99150 SH SOLE 99150 0 0 CENTURYTEL INC COM 156700106 95872 2800 SH SOLE 2800 0 0 CERADYNE INC COM 156710105 1945213 44300 SH SOLE 44300 0 0 CHATTEM INC COM 162456107 5927550 183800 SH SOLE 183800 0 0 CHEMED CORP NEW COM 16359R103 7246200 130000 SH SOLE 130000 0 0 CHEMICAL FINL CORP COM 163731102 1330350 36428 SH SOLE 36428 0 0 CHESAPEAKE ENERGY CORP COM 165167107 6216441 392700 SH SOLE 392700 0 0 CHESAPEAKE ENERGY CORP PFD CONV 5% 165167800 10233490 86908 SH SOLE 86908 0 0 CHESAPEAKE ENERGY CORP PFD CONV 6% 165167701 5192225 64600 SH SOLE 64600 0 0 CHEVRONTEXACO CORP COM 166764100 54570171 1017341 SH SOLE 1017341 0 0 CHICAGO MERCANTILE HLDGS INC CL A 167760107 1613000 10000 SH SOLE 10000 0 0 CHICOS FAS INC COM 168615102 6549129 191495 SH SOLE 191495 0 0 CHITTENDEN CORP COM 170228100 1162703 42668 SH SOLE 42668 0 0 CHRISTOPHER & BANKS CORP COM 171046105 3030100 189263 SH SOLE 189263 0 0 CIENA CORP NOTE 3.750% 2/0 171779AA9 74585526 87808000 SH SOLE 87808000 0 0 CIMAREX ENERGY CO COM 171798101 1167869 33425 SH SOLE 33425 0 0 CISCO SYS INC COM 17275R102 51096969 2823037 SH SOLE 2823037 0 0 CITIGROUP INC COM 172967101161822100 3667772 SH SOLE 3667772 0 0 CITY NATL CORP COM 178566105 84435 1300 SH SOLE 1300 0 0 CLAIRES STORES INC COM 179584107 7177766 286652 SH SOLE 286652 0 0 CLARCOR INC COM 179895107 5141114 107848 SH SOLE 107848 0 0 CNF INC COM 12612W104 81980 2000 SH SOLE 2000 0 0 COACH INC COM 189754104 72192477 1701850 SH SOLE 1701850 0 0 COCA COLA CO COM 191216100 32040 800 SH SOLE 800 0 0 COGNOS INC COM 19244C109 1367520 38500 SH SOLE 38500 0 0 COLDWATER CREEK INC COM 193068103 4631825 221937 SH SOLE 221937 0 0 COLGATE PALMOLIVE CO COM 194162103 53109090 1175500 SH SOLE 1175500 0 0 COMCAST CORP NEW CL A 20030N101 31064000 1100000 SH SOLE 1100000 0 0 COMMERCIAL CAP BANCORP INC COM 20162L105 8240485 363177 SH SOLE 363177 0 0 COMPASS BANCSHARES INC COM 20449H109 18651193 425632 SH SOLE 425632 0 0 COMPUTER ASSOC INTL INC NOTE 1.625%12/1 204912AQ2 8800988 5975000 SH SOLE 5975000 0 0 COMPUTER SCIENCES CORP COM 205363104 84772746 1799846 SH SOLE 1799846 0 0 CONOCOPHILLIPS COM 20825C104 60826895 734181 SH SOLE 734181 0 0 CONSTAR INTL INC NEW COM 21036U107 1400355 282900 SH SOLE 282900 0 0 CONSTELLATION ENERGY GROUP I COM 210371100 1741008 43700 SH SOLE 43700 0 0 COOPER CAMERON CORP DBCV 1.500% 5/1 216640AE2 53512586 49204000 SH SOLE 49204000 0 0 COOPER CAMERON CORP COM 216640102 5484000 100000 SH SOLE 100000 0 0 COOPER COS INC COM NEW 216648402 17530908 255739 SH SOLE 255739 0 0 COOPER INDS LTD CL A G24182100 28242297 478683 SH SOLE 478683 0 0 COORS ADOLPH CO CL B 217016104 101880 1500 SH SOLE 1500 0 0 CORINTHIAN COLLEGES INC COM 218868107 4710519 349445 SH SOLE 349445 0 0 CORN PRODS INTL INC COM 219023108 101420 2200 SH SOLE 2200 0 0 CORNING INC NOTE 3.500%11/0 219350AK1 3917600 3320000 SH SOLE 3320000 0 0 CORPORATE EXECUTIVE BRD CO COM 21988R102 7191167 117426 SH SOLE 117426 0 0 COVANCE INC COM 222816100 3685234 92200 SH SOLE 92200 0 0 COVENTRY HEALTH CARE INC COM 222862104 16238890 304270 SH SOLE 304270 0 0 CRANE CO COM 224399105 46156.32 1596 SH SOLE 1596 0 0 CREDIT SUISSE GROUP SPONSORED ADR 225401108 5847607 183081 SH SOLE 183081 0 0 CROMPTON CORP COM 227116100 7891988 831611 SH SOLE 831611 0 0 CRT PROPERTIES INC COM 22876P109 639210 29800 SH SOLE 29800 0 0 CS FIRST BOSTON NY BRH SR MT MTNF 0.500% 3/2 2254C0CL9 16522455 19280000 SH SOLE 19280000 0 0 CSK AUTO CORP COM 125965103 1470168 110373 SH SOLE 110373 0 0 CSX CORP COM 126408103 8760451 263869 SH SOLE 263869 0 0 CULLEN FROST BANKERS INC COM 229899109 1728684 37200 SH SOLE 37200 0 0 CUMMINS INC COM 231021106 55409150 749887 SH SOLE 749887 0 0 CVS CORP COM 126650100 64621648 1533863 SH SOLE 1533863 0 0 CYMER INC NOTE 3.500% 2/1 232572AE7 7570282 7570000 SH SOLE 7570000 0 0 CYPRESS SEMICONDUCTOR CORP NOTE 1.250% 6/1 232806AH2 13362777 13705000 SH SOLE 13705000 0 0 CYTEC INDS INC COM 232820100 2080375 42500 SH SOLE 42500 0 0 CYTYC CORP COM 232946103 13698122 567210 SH SOLE 567210 0 0 D R HORTON INC COM 23331A109 59038838 1783112 SH SOLE 1783112 0 0 DADE BEHRING HLDGS INC COM 23342J206 4625262 83012 SH SOLE 83012 0 0 DANAHER CORP DEL COM 235851102 93809580 1829360 SH SOLE 1829360 0 0 DDI CORP COM PAR $ .001 233162304 1441908 284400 SH SOLE 284400 0 0 DELL INC COM 24702R101 83016530 2331925 SH SOLE 2331925 0 0 DELPHI CORP COM 247126105 12239231 1317463 SH SOLE 1317463 0 0 DELTA AIR LINES INC DEL NOTE 8.000% 6/0 247361YP7 9054874 30645000 SH SOLE 30645000 0 0 DENDREON CORP COM 24823Q107 891460 106000 SH SOLE 106000 0 0 DIAGEO P L C SPON ADR NEW 25243Q205 5532334 109725 SH SOLE 109725 0 0 DIAMOND OFFSHORE DRILLING IN COM 25271C102 46245019 1401789 SH SOLE 1401789 0 0 DICKS SPORTING GOODS INC COM 253393102 3002766 84300 SH SOLE 84300 0 0 DIGITAS INC COM 25388K104 3860045 499359 SH SOLE 499359 0 0 DIME CMNTY BANCSHARES COM 253922108 4186795 249214 SH SOLE 249214 0 0 DISNEY WALT CO NOTE 2.125% 4/1 254687AU0 14145483 13641000 SH SOLE 13641000 0 0 DORAL FINL CORP COM 25811P100 10561372 254675 SH SOLE 254675 0 0 DOVER CORP COM 260003108 78492134 2019350 SH SOLE 2019350 0 0 DST SYS INC DEL DBCV 4.125% 8/1 233326AB3 12827830 10460000 SH SOLE 10460000 0 0 DTE ENERGY CO COM 233331107 7871092 186563 SH SOLE 186563 0 0 DUQUESNE LT HLDGS INC COM 266233105 79024 4400 SH SOLE 4400 0 0 E TRADE FINANCIAL CORP NOTE 6.000% 2/0 269246AB0 8116689 8186000 SH SOLE 8186000 0 0 E TRADE FINANCIAL CORP COM 269246104 4417256 386800 SH SOLE 386800 0 0 EAGLE MATERIALS INC COM 26969P108 10115278 141983 SH SOLE 141983 0 0 EFUNDS CORP COM 28224R101 1822991 98063 SH SOLE 98063 0 0 ELECTRONIC ARTS INC COM 285512109 44655140 970975 SH SOLE 970975 0 0 ELECTRONIC DATA SYS NEW NOTE 3.875% 7/1 285661AF1 20511934 19500000 SH SOLE 19500000 0 0 ENDO PHARMACEUTICALS HLDGS I COM 29264F205 1977372 107700 SH SOLE 107700 0 0 ENERGIZER HLDGS INC COM 29266R108 341324.4 7404 SH SOLE 7404 0 0 ENERGY EAST CORP COM 29266M109 8479289 336747 SH SOLE 336747 0 0 ENGINEERED SUPPORT SYS INC COM 292866100 2341332 51300 SH SOLE 51300 0 0 ENI S P A SPONSORED ADR 26874R108 2045756 18225 SH SOLE 18225 0 0 ENSCO INTL INC COM 26874Q100 64130883 1962990 SH SOLE 1962990 0 0 ENTERGY CORP NEW COM 29364G103 12282192 202643 SH SOLE 202643 0 0 EON LABS INC COM 29412E100 1171800 54000 SH SOLE 54000 0 0 EPICOR SOFTWARE CORP COM 29426L108 6320694 525411 SH SOLE 525411 0 0 EQUITABLE RES INC COM 294549100 108620 2000 SH SOLE 2000 0 0 EXTREME NETWORKS INC NOTE 3.500%12/0 30226DAB2 6183750 6375000 SH SOLE 6375000 0 0 EXXON MOBIL CORP COM 30231G102 55043616 1138912 SH SOLE 1138912 0 0 FACTSET RESH SYS INC COM 303075105 11450006 237552 SH SOLE 237552 0 0 FAIRCHILD SEMICONDUCTOR CORP NOTE 5.000%11/0 303727AJ0 17168268 17055000 SH SOLE 17055000 0 0 FARO TECHNOLOGIES INC COM 311642102 3296687 162079 SH SOLE 162079 0 0 FEDEX CORP COM 31428X106 99090202 1156380 SH SOLE 1156380 0 0 FIDELITY NATL FINL INC COM 316326107 2899410 76100 SH SOLE 76100 0 0 FINISAR NOTE 5.250%10/1 31787AAC5 2268231 2545000 SH SOLE 2545000 0 0 FIRST DATA CORP COM 319963104 62882730 1445580 SH SOLE 1445580 0 0 FIRST HEALTH GROUP CORP COM 320960107 5180706 321983 SH SOLE 321983 0 0 FIRST NIAGARA FINL GP INC COM 33582V108 675690 50500 SH SOLE 50500 0 0 FIRSTENERGY CORP COM 337932107 15339395 373403 SH SOLE 373403 0 0 FISERV INC COM 337738108 721602 20700 SH SOLE 20700 0 0 FISHER SCIENTIFIC INTL INC NOTE 3.250% 3/0 338032AX3 6167610 5690000 SH SOLE 5690000 0 0 FISHER SCIENTIFIC INTL INC NOTE 2.500%10/0 338032AW5 13467210 9315000 SH SOLE 9315000 0 0 FISHER SCIENTIFIC INTL INC COM NEW 338032204 79675863 1365950 SH SOLE 1365950 0 0 FLIR SYS INC COM 302445101 7274943 124358 SH SOLE 124358 0 0 FLIR SYS INC NOTE 3.000% 6/0 302445AB7 17498468 11271000 SH SOLE 11271000 0 0 FLOWSERVE CORP COM 34354P105 152334 6300 SH SOLE 6300 0 0 FLUOR CORP NEW COM 343412102 2996196 67300 SH SOLE 67300 0 0 FORD MTR CO CAP TR II PFD TR CV6.5% 345395206 19547097 371703 SH SOLE 371703 0 0 FOREST LABS INC COM 345838106 23556026 523700 SH SOLE 523700 0 0 FORRESTER RESH INC COM 346563109 1003371 65838 SH SOLE 65838 0 0 FOSSIL INC COM 349882100 8448043 273046 SH SOLE 273046 0 0 FREEPORT-MCMORAN COPPER & GO NOTE 7.000% 2/1 35671DAK1 7235466 4545000 SH SOLE 4545000 0 0 FRESH DEL MONTE PRODUCE INC ORD G36738105 5177543 207850 SH SOLE 207850 0 0 FULLER H B CO COM 359694106 1734420 63300 SH SOLE 63300 0 0 GANNETT INC COM 364730101 60737726 725140 SH SOLE 725140 0 0 GAP INC DEL COM 364760108 53643990 2868686 SH SOLE 2868686 0 0 GARMIN LTD ORD G37260109 3762750 87000 SH SOLE 87000 0 0 GENENTECH INC COM NEW 368710406 25309686 482825 SH SOLE 482825 0 0 GENERAL ELEC CO COM 369604103 78758532 2345400 SH SOLE 2345400 0 0 GENERAL GROWTH PPTYS INC COM 370021107 2071544 66824 SH SOLE 66824 0 0 GENERAL MLS INC COM 370334104 54683261 1217890 SH SOLE 1217890 0 0 GENERAL MLS INC DBCV 10/2 370334AU8 6105531 8645000 SH SOLE 8645000 0 0 GENZYME CORP NOTE 1.250%12/0 372917AN4 10293448 9715000 SH SOLE 9715000 0 0 GETTY IMAGES INC COM 374276103 2809240 50800 SH SOLE 50800 0 0 GILEAD SCIENCES INC COM 375558103 41035315 1097788 SH SOLE 1097788 0 0 GLAXOSMITHKLINE PLC SPONSORED ADR 37733W105 20746575 474750 SH SOLE 474750 0 0 GLOBAL IMAGING SYSTEMS COM 37934A100 6379667 205266 SH SOLE 205266 0 0 GLOBAL INDS LTD COM 379336100 1370934 221834 SH SOLE 221834 0 0 GLOBALSANTAFE CORP SHS G3930E101 43918844 1432915 SH SOLE 1432915 0 0 GOLDMAN SACHS GROUP INC COM 38141G104 41730027 447555 SH SOLE 447555 0 0 GOODYEAR TIRE & RUBR CO COM 382550101 37903071 3529150 SH SOLE 3529150 0 0 GRAFTECH INTL LTD DBCV 1.625% 1/1 384313AB8 3269787 3000000 SH SOLE 3000000 0 0 GRAFTECH INTL LTD COM 384313102 2130764 152743 SH SOLE 152743 0 0 GRANT PRIDECO INC COM 38821G101 3073500 150000 SH SOLE 150000 0 0 GREY WOLF INC COM 397888108 7874822 1610393 SH SOLE 1610393 0 0 GUESS INC COM 401617105 2646566 148600 SH SOLE 148600 0 0 GUITAR CTR MGMT INC COM 402040109 6599873 152422 SH SOLE 152422 0 0 HALLIBURTON CO NOTE 3.125% 7/1 406216AM3 23475366 20234000 SH SOLE 20234000 0 0 HANCOCK FABRICS INC COM 409900107 1307760 109162 SH SOLE 109162 0 0 HANOVER COMPRESSOR CO COM 410768105 1530798 113814 SH SOLE 113814 0 0 HARLEY DAVIDSON INC COM 412822108 94106894 1583225 SH SOLE 1583225 0 0 HARMAN INTL INDS INC COM 413086109 66637987 618450 SH SOLE 618450 0 0 HARTFORD FINL SVCS GROUP INC COM 416515104 68044597 1098734 SH SOLE 1098734 0 0 HCA INC COM 404119109 44933489 1177811 SH SOLE 1177811 0 0 HEINZ H J CO COM 423074103 264026.6 7330 SH SOLE 7330 0 0 HERLEY INDS INC DEL COM 427398102 613032 32800 SH SOLE 32800 0 0 HEWLETT PACKARD CO COM 428236103 67168049 3582296 SH SOLE 3582296 0 0 HIBBETT SPORTING GOODS INC COM 428565105 2975660 145225 SH SOLE 145225 0 0 HIBERNIA CORP CL A 428656102 6938673 262729 SH SOLE 262729 0 0 HIGHWOODS PPTYS INC COM 431284108 9811096 398663 SH SOLE 398663 0 0 HOOPER HOLMES INC COM 439104100 1753808 391475 SH SOLE 391475 0 0 HOSPITALITY PPTYS TR COM SH BEN INT 44106M102 101976 2400 SH SOLE 2400 0 0 HOUSTON EXPL CO COM 442120101 1366118 23018 SH SOLE 23018 0 0 HOVNANIAN ENTERPRISES INC CL A 442487203 15189238 378784 SH SOLE 378784 0 0 HUDSON UNITED BANCORP COM 444165104 1588235 43100 SH SOLE 43100 0 0 HUGHES SUPPLY INC COM 444482103 8887369 295556 SH SOLE 295556 0 0 IDEXX LABS INC COM 45168D104 1846936 36400 SH SOLE 36400 0 0 ILLINOIS TOOL WKS INC COM 452308109 91246971 979360 SH SOLE 979360 0 0 IMAGISTICS INTERNATIONAL INC COM 45247T104 612595.2 18232 SH SOLE 18232 0 0 IMC GLOBAL INC COM 449669100 1775519 102100 SH SOLE 102100 0 0 INCO LTD DBCV 1.000% 3/1 453258AT2 5039237 3685000 SH SOLE 3685000 0 0 INDYMAC BANCORP INC COM 456607100 7898840 218200 SH SOLE 218200 0 0 INPUT/OUTPUT INC COM 457652105 1804250 175000 SH SOLE 175000 0 0 INSITUFORM TECHNOLOGIES INC CL A 457667103 3084676 165221 SH SOLE 165221 0 0 INTEGRA LIFESCIENCES HLDGS C COM NEW 457985208 55165 1718 SH SOLE 1718 0 0 INTEGRA LIFESCIENCES HLDGS C COM NEW 457985208 6775210 211000 SH SOLE 211000 0 0 INTEGRATED CIRCUIT SYS INC COM 45811K208 2154300 100200 SH SOLE 100200 0 0 INTEL CORP COM 458140100 41055799 2046650 SH SOLE 2046650 0 0 INTERDIGITAL COMMUNICATIONS COM 45866A105 1113024 68200 SH SOLE 68200 0 0 INTERNATIONAL BUSINESS MACHS COM 459200101 89781784 1047140 SH SOLE 1047140 0 0 INTERNATIONAL GAME TECHNOLOG DBCV 1/2 459902AL6 21814860 27285000 SH SOLE 27285000 0 0 INTERPUBLIC GROUP COS INC PFD CONV SER A 460690308 7097475 168300 SH SOLE 168300 0 0 INTERSTATE BAKERIES CORP DEL COM 46072H108 2107400 514000 SH SOLE 514000 0 0 INTL PAPER CO DBCV 6/2 460146BM4 14995750 27031000 SH SOLE 27031000 0 0 INTL PAPER CO COM 460146103 26980100 667659 SH SOLE 667659 0 0 INVESTORS FINL SERVICES CORP COM 461915100 8315879 184265 SH SOLE 184265 0 0 INVITROGEN CORP NOTE 1.500% 2/1 46185RAH3 17572600 19659000 SH SOLE 19659000 0 0 ISHARES INC MSCI UTD KINGD 464286699 6008133 367920 SH SOLE 367920 0 0 ISHARES TR RUSL 2000 VALU 464287630 4687137 27300 SH SOLE 27300 0 0 ISHARES TR RUSSELL1000VAL 464287598 13603290 224625 SH SOLE 224625 0 0 ISLE OF CAPRI CASINOS INC COM 464592104 4198447 216750 SH SOLE 216750 0 0 IXIA COM 45071R109 3063423 315167 SH SOLE 315167 0 0 JARDEN CORP COM 471109108 8422476 230816 SH SOLE 230816 0 0 JEFFERIES GROUP INC NEW COM 472319102 9046203 262437 SH SOLE 262437 0 0 JOHNSON & JOHNSON COM 478160104 83774933 1487217 SH SOLE 1487217 0 0 JOY GLOBAL INC COM 481165108 3815801 110989 SH SOLE 110989 0 0 JPMORGAN & CHASE & CO COM 46625H100 50326150 1266704 SH SOLE 1266704 0 0 KB HOME COM 48666K109 4228724 50050 SH SOLE 50050 0 0 KEANE INC COM 486665102 1664593 108372 SH SOLE 108372 0 0 KENNAMETAL INC COM 489170100 90300 2000 SH SOLE 2000 0 0 KERR MCGEE CORP COM 492386107 61964995 1082358 SH SOLE 1082358 0 0 KEY ENERGY SVCS INC COM 492914106 9532139 862637 SH SOLE 862637 0 0 KIMBERLY CLARK CORP COM 494368103 54233058 839651 SH SOLE 839651 0 0 KIRBY CORP COM 497266106 5085198 126655 SH SOLE 126655 0 0 KIRKLANDS INC COM 497498105 629800 67000 SH SOLE 67000 0 0 KLA-TENCOR CORP COM 482480100 36327769 875790 SH SOLE 875790 0 0 KOHLS CORP COM 500255104 78990638 1639150 SH SOLE 1639150 0 0 KRAFT FOODS INC CL A 50075N104 32439472 1022682 SH SOLE 1022682 0 0 KROGER CO COM 501044101 29958318 1930304 SH SOLE 1930304 0 0 L-3 COMMUNICATIONS HLDGS INC COM 502424104 75529100 1127300 SH SOLE 1127300 0 0 LA QUINTA CORP PAIRED CTF 50419U202 1811160 232200 SH SOLE 232200 0 0 LA Z BOY INC COM 505336107 1750982 115348 SH SOLE 115348 0 0 LABOR READY INC COM NEW 505401208 2627348 187400 SH SOLE 187400 0 0 LABORATORY CORP AMER HLDGS COM NEW 50540R409 577104 13200 SH SOLE 13200 0 0 LABORATORY CORP AMER HLDGS NOTE 9/1 50540RAC6 60781987 80615000 SH SOLE 80615000 0 0 LAMAR ADVERTISING CO NOTE 2.875%12/3 512815AG6 10282821 9318000 SH SOLE 9318000 0 0 LEAR CORP COM 521865105 81675 1500 SH SOLE 1500 0 0 LEARNING TREE INTL INC COM 522015106 1034305 73355 SH SOLE 73355 0 0 LEGG MASON INC COM 524901105 3268114 61350 SH SOLE 61350 0 0 LEHMAN BROS HLDGS INC COM 524908100 1235660 15500 SH SOLE 15500 0 0 LEHMAN BROS HLDGS INC NOTE 0.250% 5/0 524908FN5 30014937 28150000 SH SOLE 28150000 0 0 LEHMAN BROS HLDGS INC MTN BE MTNF 0.250% 9/2 52517PVE8 38128125 31125000 SH SOLE 31125000 0 0 LENNAR CORP CL A 526057104 76848296 1614460 SH SOLE 1614460 0 0 LENNAR CORP CL B 526057302 298102.8 6806 SH SOLE 6806 0 0 LENNOX INTL INC COM 526107107 1154862 77300 SH SOLE 77300 0 0 LIBERTY MEDIA CORP NEW DEB 0.750% 3/3 530718AF2 486409 453000 SH SOLE 453000 0 0 LIMITED BRANDS INC COM 532716107 1295049 58100 SH SOLE 58100 0 0 LINCARE HLDGS INC DBCV 3.000% 6/1 532791AB6 52926834 54560000 SH SOLE 54560000 0 0 LLOYDS TSB GROUP PLC SPONSORED ADR 539439109 1777740 56490 SH SOLE 56490 0 0 LOEWS CORP NOTE 3.125% 9/1 540424AL2 10293419 9850000 SH SOLE 9850000 0 0 LOWES COS INC NOTE 0.861%10/1 548661CG0 2914900 2830000 SH SOLE 2830000 0 0 LOWES COS INC COM 548661107 83889496 1543505 SH SOLE 1543505 0 0 LSI LOGIC CORP COM 502161102 33618 7800 SH SOLE 7800 0 0 LSI LOGIC CORP NOTE 4.000%11/0 502161AG7 63778507 66276000 SH SOLE 66276000 0 0 LYDALL INC DEL COM 550819106 916050 98500 SH SOLE 98500 0 0 LYONDELL CHEMICAL CO COM 552078107 2628943 117050 SH SOLE 117050 0 0 M D C HLDGS INC COM 552676108 11563835 158192 SH SOLE 158192 0 0 MANITOWOC INC COM 563571108 85104 2400 SH SOLE 2400 0 0 MANNKIND CORP COM 56400P201 6194544 309109 SH SOLE 309109 0 0 MARSH & MCLENNAN COS INC COM 571748102 56890937 1243246 SH SOLE 1243246 0 0 MARSHALL & ILSLEY CORP COM 571834100 7098401 176139 SH SOLE 176139 0 0 MATTEL INC COM 577081102 19573202 1079603 SH SOLE 1079603 0 0 MAVERICK TUBE CORP COM 577914104 5729150 185951 SH SOLE 185951 0 0 MAXIM INTEGRATED PRODS INC COM 57772K101 33465134 791325 SH SOLE 791325 0 0 MCGRAW HILL COS INC COM 580645109 1147536 14400 SH SOLE 14400 0 0 MEADWESTVACO CORP COM 583334107 17905534 561302 SH SOLE 561302 0 0 MEDIACOM COMMUNICATIONS CORP CL A 58446K105 865878 132600 SH SOLE 132600 0 0 MEDICIS PHARMACEUTICAL CORP CL A NEW 584690309 8271834 211881 SH SOLE 211881 0 0 MEDTRONIC INC COM 585055106 75481854 1454371 SH SOLE 1454371 0 0 MEDTRONIC INC DBCV 1.250% 9/1 585055AB2 27920043 26840000 SH SOLE 26840000 0 0 MENTOR GRAPHICS CORP COM 587200106 1822383 166200 SH SOLE 166200 0 0 MERCK & CO INC COM 589331107 43812285 1327645 SH SOLE 1327645 0 0 MERCURY INTERACTIVE CORP COM 589405109 1684704 48300 SH SOLE 48300 0 0 MERISTAR HOSPITALITY CORP COM 58984Y103 3271362 600250 SH SOLE 600250 0 0 MERITAGE HOMES CORP COM 59001A102 5367358 68287 SH SOLE 68287 0 0 MERRILL LYNCH & CO INC COM 590188108 36551906 735155 SH SOLE 735155 0 0 MERRILL LYNCH CO INC MTN BE MTNF 0.250% 7/2 59018YRQ6 13021875 11250000 SH SOLE 11250000 0 0 MGI PHARMA INC COM 552880106 4367445 163636 SH SOLE 163636 0 0 MICHAELS STORES INC COM 594087108 8526240 144000 SH SOLE 144000 0 0 MICROS SYS INC COM 594901100 5559723 111039 SH SOLE 111039 0 0 MICROSOFT CORP COM 594918104 71982848 2603358 SH SOLE 2603358 0 0 MINE SAFETY APPLIANCES CO COM 602720104 4098305 100646 SH SOLE 100646 0 0 MINERALS TECHNOLOGIES INC COM 603158106 129492 2200 SH SOLE 2200 0 0 MKS INSTRUMENT INC COM 55306N104 378404 24700 SH SOLE 24700 0 0 MOHAWK INDS INC COM 608190104 7438843 93700 SH SOLE 93700 0 0 MOLINA HEALTHCARE INC COM 60855R100 4414638 124356 SH SOLE 124356 0 0 MORGAN STANLEY NOTE 5/3 617446JH3 13821396 10835000 SH SOLE 10835000 0 0 MORGAN STANLEY COM NEW 617446448 71144090 1443085 SH SOLE 1443085 0 0 MOTOROLA INC COM 620076109 28496416 1579624 SH SOLE 1579624 0 0 MOTOROLA INC EQTY UNIT 7% 620076208 4593652 89400 SH SOLE 89400 0 0 MSC INDL DIRECT INC CL A 553530106 7437449 218235 SH SOLE 218235 0 0 NABI BIOPHARMACEUTICALS COM 629519109 3995656 298629 SH SOLE 298629 0 0 NATIONAL-OILWELL INC COM 637071101 5655206 172100 SH SOLE 172100 0 0 NAVISTAR FINL CORP NOTE 4.750% 4/0 638902AM8 18453600 18640000 SH SOLE 18640000 0 0 NAVISTAR INTL CORP NEW COM 63934E108 98860466 2658254 SH SOLE 2658254 0 0 NEKTAR THERAPEUTICS COM 640268108 4024151 277911 SH SOLE 277911 0 0 NETBANK INC COM 640933107 1812120 181031 SH SOLE 181031 0 0 NEUROCRINE BIOSCIENCES INC COM 64125C109 4406017 93427 SH SOLE 93427 0 0 NEW CENTURY FINANCIAL CORP COM 64352D101 11017550 182955 SH SOLE 182955 0 0 NEW YORK CMNTY BANCORP INC COM 649445103 50334420 2450556 SH SOLE 2450556 0 0 NEWFIELD EXPL CO COM 651290108 6515936 106400 SH SOLE 106400 0 0 NIKE INC CL B 654106103 76276430 967975 SH SOLE 967975 0 0 NOKIA CORP SPONSORED ADR 654902204 35060951 2557320 SH SOLE 2557320 0 0 NORFOLK SOUTHERN CORP COM 655844108 26617 895 SH SOLE 895 0 0 NORTEL NETWORKS CORP NEW NOTE 4.250% 9/0 656568AB8109724793112148000 SH SOLE 112148000 0 0 NORTHROP GRUMMAN CORP COM 666807102 49274520 923955 SH SOLE 923955 0 0 NORTHWEST AIRLS CORP NOTE 7.625%11/1 667280AE1 2685000 4000000 SH SOLE 4000000 0 0 NOVARTIS A G SPONSORED ADR 66987V109 14338618 307300 SH SOLE 307300 0 0 NOVELLUS SYS INC COM 670008101 1078224 40550 SH SOLE 40550 0 0 NTT DOCOMO INC SPONS ADR 62942M201 270300 15900 SH SOLE 15900 0 0 ODYSSEY HEALTHCARE INC COM 67611V101 2901450 163462 SH SOLE 163462 0 0 OFFSHORE LOGISTICS INC COM 676255102 1886216 54800 SH SOLE 54800 0 0 OLIN CORP COM PAR $1 680665205 10359580 517979 SH SOLE 517979 0 0 OMI CORP NEW COM Y6476W104 2403016 150001 SH SOLE 150001 0 0 OMNICOM GROUP INC COM 681919106 73310961 1003435 SH SOLE 1003435 0 0 OMNOVA SOLUTIONS INC COM 682129101 1280772 212400 SH SOLE 212400 0 0 OPEN SOLUTIONS INC COM 68371P102 3814992 152783 SH SOLE 152783 0 0 ORACLE CORP COM 68389X105 36505486 3236302 SH SOLE 3236302 0 0 OSHKOSH B GOSH INC CL A 688222207 982911 48659 SH SOLE 48659 0 0 OSHKOSH TRUCK CORP COM 688239201 6610401 115850 SH SOLE 115850 0 0 OSI PHARMACEUTICALS INC COM 671040103 4684973 76228 SH SOLE 76228 0 0 OWENS ILL INC COM NEW 690768403 23440208 1465013 SH SOLE 1465013 0 0 P F CHANGS CHINA BISTRO INC COM 69333Y108 5375456 110857 SH SOLE 110857 0 0 PACIFICARE HEALTH SYS DEL COM 695112102 6973000 190000 SH SOLE 190000 0 0 PALL CORP COM 696429307 95472 3900 SH SOLE 3900 0 0 PANERA BREAD CO CL A 69840W108 5453173 145263 SH SOLE 145263 0 0 PARKER DRILLING CO COM 701081101 5618465 1530917 SH SOLE 1530917 0 0 PATHMARK STORES INC NEW COM 70322A101 1617475 333500 SH SOLE 333500 0 0 PATTERSON COMPANIES INC COM 703395103 5007024 65400 SH SOLE 65400 0 0 PAXAR CORP COM 704227107 825552 36400 SH SOLE 36400 0 0 PAYLESS SHOESOURCE INC COM 704379106 5558270 548694 SH SOLE 548694 0 0 PEABODY ENERGY CORP COM 704549104 9835350 165300 SH SOLE 165300 0 0 PENN NATL GAMING INC COM 707569109 7581343 187657 SH SOLE 187657 0 0 PENTAIR INC COM 709631105 3791226 108600 SH SOLE 108600 0 0 PEPSICO INC COM 713448108 64317197 1322039 SH SOLE 1322039 0 0 PETCO ANIMAL SUPPLIES COM NEW 716016209 8487191 259865 SH SOLE 259865 0 0 PFIZER INC COM 717081103151400966 4947744 SH SOLE 4947744 0 0 PG&E CORP NOTE 9.500% 6/3 69331CAD0 8850441 3550000 SH SOLE 3550000 0 0 PG&E CORP COM 69331C108 5061508 166497 SH SOLE 166497 0 0 PHARMACEUTICAL PROD DEV INC COM 717124101 4415400 122650 SH SOLE 122650 0 0 PINNACLE WEST CAP CORP COM 723484101 99600 2400 SH SOLE 2400 0 0 PITNEY BOWES INC COM 724479100 19468209 441456 SH SOLE 441456 0 0 PLACER DOME INC COM 725906101 4145974 208550 SH SOLE 208550 0 0 PLAYTEX PRODS INC COM 72813P100 876462.3 139121 SH SOLE 139121 0 0 PMA CAP CORP CL A 693419202 1857300 246000 SH SOLE 246000 0 0 PMA CAP CORP DBCV 4.250% 9/3 693419AA1 22446124 22235000 SH SOLE 22235000 0 0 PMI GROUP INC COM 69344M101 24473189 603085 SH SOLE 603085 0 0 PMI GROUP INC DBCV 2.500% 7/1 69344MAE1 273175 245000 SH SOLE 245000 0 0 PNC FINL SVCS GROUP INC COM 693475105 34442494 636645 SH SOLE 636645 0 0 POLYONE CORP COM 73179P106 1011545 134514 SH SOLE 134514 0 0 POST PPTYS INC COM 737464107 1832870 61300 SH SOLE 61300 0 0 PPL CORP COM 69351T106 15856537 336086 SH SOLE 336086 0 0 PRAXAIR INC COM 74005P104 90639359 2120715 SH SOLE 2120715 0 0 PREMCOR INC COM 74045Q104 10709468 278168 SH SOLE 278168 0 0 PRIDE INTL INC DEL FRNT 2.500% 3/0 74153QAB8 64512553 51589000 SH SOLE 51589000 0 0 PRIDE INTL INC DEL COM 74153Q102 93386477 4718872 SH SOLE 4718872 0 0 PRIORITY HEALTHCARE CORP CL B 74264T102 2043210 101400 SH SOLE 101400 0 0 PROCTER & GAMBLE CO COM 742718109 4144238 76575 SH SOLE 76575 0 0 PROGRESS SOFTWARE CORP COM 743312100 5396223 271167 SH SOLE 271167 0 0 PROQUEST COMPANY COM 74346P102 1879286 73124 SH SOLE 73124 0 0 PROVIDENT FINL SVCS INC COM 74386T105 520950 30200 SH SOLE 30200 0 0 PROVIDIAN FINL CORP COM 74406A102 7044282 453300 SH SOLE 453300 0 0 PROVIDIAN FINL CORP NOTE 3.250% 8/1 74406AAA0 29042291 30005000 SH SOLE 30005000 0 0 PRUDENTIAL FINL INC COM 744320102 51395245 1092586 SH SOLE 1092586 0 0 PSS WORLD MED INC COM 69366A100 2016996 200896 SH SOLE 200896 0 0 PTEK HLDGS INC COM 69366M104 931559 108700 SH SOLE 108700 0 0 QLOGIC CORP COM 747277101 1569330 53000 SH SOLE 53000 0 0 QUADRAMED CORP COM 74730W101 20523053 7073090 SH SOLE 7073090 0 0 QUALITY DISTR INC FLA COM 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6753106 231350 SH SOLE 231350 0 0 RYLAND GROUP INC COM 783764103 10542206 113773 SH SOLE 113773 0 0 S & T BANCORP INC COM 783859101 1065657 29842 SH SOLE 29842 0 0 SAFENET INC COM 78645R107 1954758 74100 SH SOLE 74100 0 0 SAFEWAY INC COM NEW 786514208 7332741 379738 SH SOLE 379738 0 0 SALIX PHARMACEUTICALS INC COM 795435106 2962099 137644 SH SOLE 137644 0 0 SBC COMMUNICATIONS INC COM 78387G103 44580828 1717951 SH SOLE 1717951 0 0 SCANA CORP NEW COM 80589M102 89616 2400 SH SOLE 2400 0 0 SCANSOURCE INC COM 806037107 6613380 103658 SH SOLE 103658 0 0 SCHEIN HENRY INC COM 806407102 4511244 72400 SH SOLE 72400 0 0 SCHERING PLOUGH CORP PFD CONV MAND 806605606 4924350 93000 SH SOLE 93000 0 0 SCHLUMBERGER LTD DBCV 1.500% 6/0 806857AC2 73222785 66167000 SH SOLE 66167000 0 0 SCHOLASTIC CORP COM 807066105 33979 1100 SH SOLE 1100 0 0 SCIENTIFIC GAMES CORP CL A 80874P109 6413761 335799 SH SOLE 335799 0 0 SCOTTISH RE GROUP LTD ORD G7885T104 1862960 88000 SH SOLE 88000 0 0 SEMTECH CORP COM 816850101 844342 44045 SH SOLE 44045 0 0 SENSIENT TECHNOLOGIES CORP COM 81725T100 1138805 52625 SH SOLE 52625 0 0 SHARPER IMAGE CORP COM 820013100 3877795 180783 SH SOLE 180783 0 0 SHERWIN WILLIAMS CO COM 824348106 2101288 47800 SH SOLE 47800 0 0 SHUFFLE MASTER INC COM 825549108 2172680 58000 SH SOLE 58000 0 0 SIERRA HEALTH SVCS INC COM 826322109 8030240 167541 SH SOLE 167541 0 0 SIERRA PAC RES NEW COM 826428104 5811682 649350 SH SOLE 649350 0 0 SIGMATEL INC COM 82661W107 3620526 170699 SH SOLE 170699 0 0 SILICON GRAPHICS INC COM 827056102 2156654 1508150 SH SOLE 1508150 0 0 SILICON LABORATORIES INC COM 826919102 1631337 49300 SH SOLE 49300 0 0 SINCLAIR BROADCAST GROUP INC CL A 829226109 2127074 291380 SH SOLE 291380 0 0 SKYWEST INC COM 830879102 200165 13300 SH SOLE 13300 0 0 SKYWORKS SOLUTIONS INC NOTE 4.750%11/1 83088MAB8 8258724 6520000 SH SOLE 6520000 0 0 SL GREEN RLTY CORP COM 78440X101 134706 2600 SH SOLE 2600 0 0 SMITH & WOLLENSKY RESTAURANT COM 831758107 1055913 188556 SH SOLE 188556 0 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881624209 67044420 2583600 SH SOLE 2583600 0 0 TEVA PHARMACEUTICALS FIN B V DBCV 0.375%11/1 88164MAB4 47011637 36124000 SH SOLE 36124000 0 0 TEXAS INSTRS INC COM 882508104 25953768 1219632 SH SOLE 1219632 0 0 THOMAS INDS INC COM 884425109 1246580 39700 SH SOLE 39700 0 0 THQ INC COM NEW 872443403 1515934 77900 SH SOLE 77900 0 0 TIDEWATER INC COM 886423102 3368925 103500 SH SOLE 103500 0 0 TIME WARNER INC COM 887317105 1276674 79100 SH SOLE 79100 0 0 TIMKEN CO COM 887389104 18005443 731334 SH SOLE 731334 0 0 TJX COS INC NEW COM 872540109 72225741 3277030 SH SOLE 3277030 0 0 TOO INC COM 890333107 1886742 104413 SH SOLE 104413 0 0 TORO CO COM 891092108 9828370 143900 SH SOLE 143900 0 0 TRAMMELL CROW CO COM 89288R106 1825092 116100 SH SOLE 116100 0 0 TRANSOCEAN INC ORD G90078109132099294 3691987 SH SOLE 3691987 0 0 TRIMBLE NAVIGATION LTD COM 896239100 5682818 179836 SH SOLE 179836 0 0 TRW AUTOMOTIVE HLDGS CORP COM 87264S106 12858471 682147 SH SOLE 682147 0 0 TXU CORP FRNT 7/1 873168AE8 615040 392000 SH SOLE 392000 0 0 TYCO INTL GROUP S A DBCV 2.750% 1/1 902118BF4 58731285 41525000 SH SOLE 41525000 0 0 TYCO INTL GROUP S A DBCV 3.125% 1/1 902118BG2 4262748 2767000 SH SOLE 2767000 0 0 UBS AG NAMEN AKT H8920M855 49446911 70307 SH SOLE 70307 0 0 UCBH HOLDINGS INC COM 90262T308 11937682 305546 SH SOLE 305546 0 0 UGI CORP NEW COM 902681105 1900260 51000 SH SOLE 51000 0 0 UNITED DEFENSE INDS INC COM 91018B104 3347163 83700 SH SOLE 83700 0 0 UNITED SURGICAL PARTNERS INT COM 913016309 3145842 91582 SH SOLE 91582 0 0 UNITED TECHNOLOGIES CORP COM 913017109 90483819 968985 SH SOLE 968985 0 0 UNITED THERAPEUTICS CORP DEL COM 91307C102 1138718 32600 SH SOLE 32600 0 0 UNITEDGLOBALCOM CL A 913247508122831465 16172007 SH SOLE 16172007 0 0 UNITEDHEALTH GROUP INC COM 91324P102121465044 1647207 SH SOLE 1647207 0 0 UNIVERSAL HLTH SVCS INC CL B 913903100 26104307 600099 SH SOLE 600099 0 0 UNOCAL CORP COM 915289102 15279362 355334 SH SOLE 355334 0 0 US BANCORP DEL COM NEW 902973304 44677955 1545950 SH SOLE 1545950 0 0 USF&G CORP NOTE 3/0 903290AD6 3408125 4100000 SH SOLE 4100000 0 0 VALMONT INDS INC COM 920253101 834800 40000 SH SOLE 40000 0 0 VARIAN MED SYS INC COM 92220P105 3477742 100600 SH SOLE 100600 0 0 VARIAN SEMICONDUCTOR EQUIPMN COM 922207105 880650 28500 SH SOLE 28500 0 0 VCA ANTECH INC COM 918194101 6020267 291821 SH SOLE 291821 0 0 VERITAS SOFTWARE CO COM 923436109 39282909 2206905 SH SOLE 2206905 0 0 VERIZON COMMUNICATIONS COM 92343V104 73176192 1858207 SH SOLE 1858207 0 0 VERIZON GLOBAL FDG CORP NOTE 5/1 92344GAN6 11751887 19070000 SH SOLE 19070000 0 0 VIASYS HEALTHCARE INC COM NEW 92553Q209 1806840 108000 SH SOLE 108000 0 0 VODAFONE GROUP PLC NEW SPONSORED ADR 92857W100 2193527 90980 SH SOLE 90980 0 0 WABASH NATL CORP COM 929566107 6841046 249037 SH SOLE 249037 0 0 WABTEC CORP COM 929740108 8579102 459021 SH SOLE 459021 0 0 WACHOVIA CORP 2ND NEW COM 929903102 54969576 1170811 SH SOLE 1170811 0 0 WADDELL & REED FINL INC CL A 930059100 1914000 87000 SH SOLE 87000 0 0 WAL MART STORES INC COM 931142103 41531644 780670 SH SOLE 780670 0 0 WALGREEN CO COM 931422109 80564113 2248510 SH SOLE 2248510 0 0 WARNACO GROUP INC COM NEW 934390402 5461911 245700 SH SOLE 245700 0 0 WASHINGTON MUT INC COM 939322103 30465517 779568 SH SOLE 779568 0 0 WAUSAU-MOSINEE PAPER CORP COM 943315101 2052395 123267 SH SOLE 123267 0 0 WCI CMNTYS INC COM 92923C104 12095659 519127 SH SOLE 519127 0 0 WEATHERFORD INTERNATIONAL LT COM G95089101 63183168 1238400 SH SOLE 1238400 0 0 WELLCHOICE INC COM 949475107 4472134 119800 SH SOLE 119800 0 0 WELLPOINT HEALTH NETWORK NEW COM 94973H108 86502206 823125 SH SOLE 823125 0 0 WELLS FARGO & CO NEW COM 949746101 22931670 384566 SH SOLE 384566 0 0 WESTCORP INC COM 957907108 12978380 305230 SH SOLE 305230 0 0 WHOLE FOODS MKT INC SDCV 3/0 966837AC0 51889345 56069000 SH SOLE 56069000 0 0 WINNEBAGO INDS INC COM 974637100 11031662 318466 SH SOLE 318466 0 0 WINTRUST FINANCIAL CORP COM 97650W108 9817506 171395 SH SOLE 171395 0 0 WMS INDS INC COM 929297109 4406503 171526 SH SOLE 171526 0 0 WORLD FUEL SVCS CORP COM 981475106 1940360 54200 SH SOLE 54200 0 0 XEROX CORP PFD CONV SER C 984121509 6449798 49865 SH SOLE 49865 0 0 XL CAP LTD CL A G98255105 1782789 24095 SH SOLE 24095 0 0 XL CAP LTD DBCV 5/2 98372PAB4 12922000 19880000 SH SOLE 19880000 0 0 XM SATELLITE RADIO HLDGS INC CL A 983759101 688644 22200 SH SOLE 22200 0 0 YANKEE CANDLE INC COM 984757104 7981984 275621 SH SOLE 275621 0 0 YELLOW ROADWAY CORP COM 985577105 112536 2400 SH SOLE 2400 0 0