-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, QBLG6/sKdcV02yJ3sbBISuwl0j5VRPhOHKp1Qv6zlkOkFp6rmc13mU6ARpcqZ3sN 0UlGTyoagxMVHMGovGYW8g== 0000061227-05-000015.txt : 20050708 0000061227-05-000015.hdr.sgml : 20050708 20050708150046 ACCESSION NUMBER: 0000061227-05-000015 CONFORMED SUBMISSION TYPE: 13F-HR PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20050630 FILED AS OF DATE: 20050708 DATE AS OF CHANGE: 20050708 EFFECTIVENESS DATE: 20050708 FILER: COMPANY DATA: COMPANY CONFORMED NAME: MACKAY SHIELDS LLC CENTRAL INDEX KEY: 0000061227 IRS NUMBER: 134080466 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 13F-HR SEC ACT: 1934 Act SEC FILE NUMBER: 028-00046 FILM NUMBER: 05945626 BUSINESS ADDRESS: STREET 1: 9 WEST 57TH STREET STREET 2: 33RD FLOOR CITY: NEW YORK STATE: NY ZIP: 10019 BUSINESS PHONE: 212-758-5400 MAIL ADDRESS: STREET 1: 9 WEST 57TH STREET STREET 2: 33RD FLOOR CITY: NEW YORK STATE: NY ZIP: 10019 FORMER COMPANY: FORMER CONFORMED NAME: MACKAY SHIELDS FINANCIAL CORP DATE OF NAME CHANGE: 19920929 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: June 30, 2005 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 34th Floor New York, New York 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: Rene A. Bustamante Title: Chief Compliance Officer Phone: (212) 230-3811 Signature, Place, and Date of Signing: Rene A. Bustamante New York, New York/USA July 08, 2005 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: 519 Form13F Information Table Value Total: $9,862,656,094 (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 61118805 845350 SH SOLE 845350 0 0 A C MOORE ARTS & CRAFTS INC COM 00086T103 4494373 142182 SH SOLE 142182 0 0 AAMES INVT CORP MD COM 00253G108 1533816 157800 SH SOLE 157800 0 0 ACTUANT CORP CL A NEW 00508X203 7864078 164040 SH SOLE 164040 0 0 ADVANCE AUTO PARTS INC COM 00751Y106 2982210 46200 SH SOLE 46200 0 0 AES CORP COM 00130H105 5487300 335000 SH SOLE 335000 0 0 AETNA INC NEW COM 00817Y108 1180185 14250 SH SOLE 14250 0 0 AFFILIATED MANAGERS GROUP NOTE 5/0 008252AC2 14541894 11915000 SH SOLE 11915000 0 0 ALLEGHENY TECHNOLOGIES INC COM 01741R102 1718474 77900 SH SOLE 77900 0 0 ALLIANCE RES PARTNER L P UT LTD PART 01877R108 5588924 75526 SH SOLE 75526 0 0 ALZA CORP SDCV 7/2 02261WAB5 23024272 25464000 SH SOLE 25464000 0 0 AMAZON COM INC NOTE 4.750% 2/0 023135AF3 14572250 15140000 SH SOLE 15140000 0 0 AMDOCS LTD ORD G02602103 1199922 45400 SH SOLE 45400 0 0 AMERICAN EXPRESS CO DBCV 1.850%12/0 025816AS8 17673312 17280000 SH SOLE 17280000 0 0 AMERICAN HEALTHWAYS INC COM 02649V104 6972901 164961 SH SOLE 164961 0 0 AMERICAN HOME MTG INVT CORP COM 02660R107 5057174 144656 SH SOLE 144656 0 0 AMERICAN INTL GROUP INC DBCV 11/0 026874AP2 9229687 13750000 SH SOLE 13750000 0 0 AMKOR TECHNOLOGY INC NOTE 5.750% 6/0 031652AN0 53562600 56680000 SH SOLE 56680000 0 0 AON CORP DBCV 3.500%11/1 037389AT0 17271782 13704000 SH SOLE 13704000 0 0 ARCH CHEMICALS INC COM 03937R102 16504949 661256 SH SOLE 661256 0 0 ATMI INC COM 00207R101 232080 8000 SH SOLE 8000 0 0 AVID TECHNOLOGY INC COM 05367P100 1699632 31900 SH SOLE 31900 0 0 AXIS CAPITAL HOLDINGS SHS G0692U109 25470 900 SH SOLE 900 0 0 BEAZER HOMES USA INC COM 07556Q105 7322630 128130 SH SOLE 128130 0 0 BENCHMARK ELECTRS INC COM 08160H101 1873872 61600 SH SOLE 61600 0 0 BOSTON SCIENTIFIC CORP COM 101137107 32107725 1189175 SH SOLE 1189175 0 0 BOWATER INC COM 102183100 53020830 1637962 SH SOLE 1637962 0 0 BOYD GAMING CORP COM 103304101 5828820 114000 SH SOLE 114000 0 0 BRADLEY PHARMACEUTICALS INC COM 104576103 1492165 138806 SH SOLE 138806 0 0 BRISTOL MYERS SQUIBB CO COM 110122108 30648936 1226939 SH SOLE 1226939 0 0 BROOKLINE BANCORP INC DEL COM 11373M107 1629252 100200 SH SOLE 100200 0 0 BRUNSWICK CORP COM 117043109 48034299 1108825 SH SOLE 1108825 0 0 BUNGE LTD FIN CORP NOTE 3.750%11/1 120568AE0 4690117 2355000 SH SOLE 2355000 0 0 BURLINGTON NORTHN SANTA FE C COM 12189T104 13428345 285224 SH SOLE 285224 0 0 C D W CORP COM 12512N105 1684155 29500 SH SOLE 29500 0 0 CADBURY SCHWEPPES PLC ADR 127209302 71254009 1859427 SH SOLE 1859427 0 0 CAL DIVE INTL INC COM 127914109 11105425 212057 SH SOLE 212057 0 0 CALLAWAY GOLF CO COM 131193104 1132160 73374 SH SOLE 73374 0 0 CAMBREX CORP COM 132011107 3604279 189201 SH SOLE 189201 0 0 CANON INC ADR 138006309 11571272 220028 SH SOLE 220028 0 0 CAPITAL ONE FINL CORP COM 14040H105 80520063 1006375 SH SOLE 1006375 0 0 CAREMARK RX INC COM 141705103 95985120 2156000 SH SOLE 2156000 0 0 CARNIVAL CORP DBCV 1.132% 4/2 143658AV4 21953574 26920000 SH SOLE 26920000 0 0 CARNIVAL CORP PAIRED CTF 143658300 50510572 925950 SH SOLE 925950 0 0 CARPENTER TECHNOLOGY CORP COM 144285103 1429680 27600 SH SOLE 27600 0 0 CATALYST SEMICONDUCTOR INC COM 148881105 373150 85000 SH SOLE 85000 0 0 CELGENE CORP COM 151020104 2181195 53500 SH SOLE 53500 0 0 CENDANT CORP COM 151313103 58538934 2616850 SH SOLE 2616850 0 0 CENTEX CORP COM 152312104 90885153 1286050 SH SOLE 1286050 0 0 CENTURYTEL INC COM 156700106 96964 2800 SH SOLE 2800 0 0 CERADYNE INC COM 156710105 5569389 231383 SH SOLE 231383 0 0 CHATTEM INC COM 162456107 7605263 183702 SH SOLE 183702 0 0 CHESAPEAKE ENERGY CORP COM 165167107 2435040 106800 SH SOLE 106800 0 0 CHESAPEAKE ENERGY CORP PFD CONV 5% 165167800 23406808 155904 SH SOLE 155904 0 0 CHEVRONTEXACO CORP COM 166764100 33562569 600189 SH SOLE 600189 0 0 CHICOS FAS INC COM 168615102 13536829 394890 SH SOLE 394890 0 0 CHILDRENS PL RETAIL STORES I COM 168905107 7556433 161912 SH SOLE 161912 0 0 CHITTENDEN CORP COM 170228100 1965689 72268 SH SOLE 72268 0 0 CHRISTOPHER & BANKS CORP COM 171046105 2880752 157763 SH SOLE 157763 0 0 CIENA CORP NOTE 3.750% 2/0 171779AA9 71054157 80880000 SH SOLE 80880000 0 0 CIMAREX ENERGY CO COM 171798101 1631301 41925 SH SOLE 41925 0 0 CITIGROUP INC COM 172967101128688093 2783649 SH SOLE 2783649 0 0 CITY NATL CORP COM 178566105 93223 1300 SH SOLE 1300 0 0 CLARCOR INC COM 179895107 6185556 211472 SH SOLE 211472 0 0 CLECO CORP NEW COM 12561W105 1516371 70300 SH SOLE 70300 0 0 CNF INC COM 12612W104 89800 2000 SH SOLE 2000 0 0 COACH INC COM 189754104106265835 3165500 SH SOLE 3165500 0 0 COLDWATER CREEK INC COM 193068103 8440878 338855 SH SOLE 338855 0 0 COMMERCIAL CAP BANCORP INC COM 20162L105 5836068 349256 SH SOLE 349256 0 0 COMMERCIAL METALS CO COM 201723103 3168060 133000 SH SOLE 133000 0 0 COMPASS BANCSHARES INC COM 20449H109 22471245 499361 SH SOLE 499361 0 0 COMPUTER ASSOC INTL INC COM 204912109 12311 448 SH SOLE 448 0 0 COMPUTER ASSOC INTL INC NOTE 1.625%12/1 204912AQ2 7305159 5100000 SH SOLE 5100000 0 0 COMPUTER SCIENCES CORP COM 205363104 59369203 1358563 SH SOLE 1358563 0 0 CONOCOPHILLIPS COM 20825C104 37152394 646241 SH SOLE 646241 0 0 CONSECO INC PFD B CV 5.50% 208464867 51567703 1823731 SH SOLE 1823731 0 0 CONSTAR INTL INC NEW COM 21036U107 1424940 381000 SH SOLE 381000 0 0 CONSTELLATION ENERGY GROUP I COM 210371100 3086415 53500 SH SOLE 53500 0 0 COOPER CAMERON CORP DBCV 1.500% 5/1 216640AE2 49627873 44620000 SH SOLE 44620000 0 0 COOPER CAMERON CORP COM 216640102 3102500 50000 SH SOLE 50000 0 0 COOPER CAMERON CORP DBCV 1.500% 5/1 216640AE2 1549900 1409000 SH SOLE 1409000 0 0 COOPER COS INC COM NEW 216648402 14594958 239812 SH SOLE 239812 0 0 CORINTHIAN COLLEGES INC COM 218868107 761092 59600 SH SOLE 59600 0 0 CORN PRODS INTL INC COM 219023108 104544 4400 SH SOLE 4400 0 0 CORNING INC COM 219350105 64955115 3908250 SH SOLE 3908250 0 0 COST PLUS INC CALIF COM 221485105 1683450 67500 SH SOLE 67500 0 0 COSTCO COMPANIES INC NOTE 8/1 22160QAC6 22109103 21481000 SH SOLE 21481000 0 0 COVANCE INC COM 222816100 2835784 63200 SH SOLE 63200 0 0 COVENTRY HEALTH CARE INC COM 222862104 9317421 131695 SH SOLE 131695 0 0 CRANE CO COM 224399105 41974 1596 SH SOLE 1596 0 0 CROMPTON CORP COM 227116100 12809995 905300 SH SOLE 905300 0 0 CS FIRST BOSTON NY BRH SR MT MTNF 0.500% 3/2 2254C0CL9 15852365 16875000 SH SOLE 16875000 0 0 CSK AUTO CORP COM 125965103 1125449 67473 SH SOLE 67473 0 0 CSX CORP COM 126408103 12940825 303348 SH SOLE 303348 0 0 CULLEN FROST BANKERS INC COM 229899109 2129955 44700 SH SOLE 44700 0 0 CUMMINS INC COM 231021106 1410204 18901 SH SOLE 18901 0 0 CV THERAPEUTICS INC COM 126667104 2578300 115000 SH SOLE 115000 0 0 CVS CORP COM 126650100 45846267 1577099 SH SOLE 1577099 0 0 CYMER INC NOTE 3.500% 2/1 232572AE7 6324015 6600000 SH SOLE 6600000 0 0 CYPRESS SEMICONDUCTOR CORP NOTE 1.250% 6/1 232806AH2 14790094 13795000 SH SOLE 13795000 0 0 CYTYC CORP COM 232946103 5815016 263600 SH SOLE 263600 0 0 D R HORTON INC COM 23331A109107774727 2865587 SH SOLE 2865587 0 0 DADE BEHRING HLDGS INC COM 23342J206 6300184 96911 SH SOLE 96911 0 0 DANAHER CORP DEL COM 235851102 76777546 1466900 SH SOLE 1466900 0 0 DELL INC COM 24702R101 83527103 2114075 SH SOLE 2114075 0 0 DELTA AIR LINES INC DEL NOTE 8.000% 6/0 247361YP7 10953074 30340000 SH SOLE 30340000 0 0 DEVON ENERGY CORP NEW DEB 4.950% 8/1 25179MAB9 406350 360000 SH SOLE 360000 0 0 DIAGEO P L C SPON ADR NEW 25243Q205 7751274 130757 SH SOLE 130757 0 0 DIAMOND OFFSHORE DRILLING IN DBCV 1.500% 4/1 25271CAE2 32880735 26581000 SH SOLE 26581000 0 0 DIAMOND OFFSHORE DRILLING IN COM 25271C102 14681816 274786 SH SOLE 274786 0 0 DICKS SPORTING GOODS INC COM 253393102 2570094 66600 SH SOLE 66600 0 0 DIGITAS INC COM 25388K104 5794135 507812 SH SOLE 507812 0 0 DISNEY WALT CO NOTE 2.125% 4/1 254687AU0 15597713 15048000 SH SOLE 15048000 0 0 DOVER CORP COM 260003108 10261888 282075 SH SOLE 282075 0 0 DRS TECHNOLOGIES INC COM 23330X100 6195906 120825 SH SOLE 120825 0 0 DST SYS INC DEL DBCV 4.125% 8/1 233326AB3 10083926 8765000 SH SOLE 8765000 0 0 DTE ENERGY CO COM 233331107 8395823 179513 SH SOLE 179513 0 0 DUKE ENERGY CORP COM 264399106 7395248 248747 SH SOLE 248747 0 0 DUQUESNE LT HLDGS INC COM 266233105 82192 4400 SH SOLE 4400 0 0 E M C CORP MASS COM 268648102 29927559 2182900 SH SOLE 2182900 0 0 E TRADE FINANCIAL CORP NOTE 6.000% 2/0 269246AB0 7991962 8186000 SH SOLE 8186000 0 0 EAGLE MATERIALS INC COM 26969P108 10429707 112698 SH SOLE 112698 0 0 EATON CORP COM 278058102 1635270 27300 SH SOLE 27300 0 0 EBAY INC COM 278642103 28178986 853650 SH SOLE 853650 0 0 EFUNDS CORP COM 28224R101 1625630 90363 SH SOLE 90363 0 0 ELECTRONICS BOUTIQUE HLDGS C COM 286045109 7181100 113106 SH SOLE 113106 0 0 ENDO PHARMACEUTICALS HLDGS I COM 29264F205 4772448 181600 SH SOLE 181600 0 0 ENERGY EAST CORP COM 29266M109 7212310 248872 SH SOLE 248872 0 0 ENGINEERED SUPPORT SYS INC COM 292866100 2165923 60450 SH SOLE 60450 0 0 ENI S P A SPONSORED ADR 26874R108 2427709 18965 SH SOLE 18965 0 0 ENSCO INTL INC COM 26874Q100156572809 4379659 SH SOLE 4379659 0 0 ENTERGY CORP NEW COM 29364G103 18802657 248877 SH SOLE 248877 0 0 EPICOR SOFTWARE CORP COM 29426L108 6631614 502395 SH SOLE 502395 0 0 EQUITABLE RES INC COM 294549100 136000 2000 SH SOLE 2000 0 0 ESSEX CORP COM 296744105 1107392 48400 SH SOLE 48400 0 0 EURONET WORLDWIDE INC COM 298736109 1023264 35200 SH SOLE 35200 0 0 EXXON MOBIL CORP COM 30231G102 48564851 845047 SH SOLE 845047 0 0 FACTSET RESH SYS INC COM 303075105 12645857 352842 SH SOLE 352842 0 0 FAIRCHILD SEMICONDUCTOR INTL COM 303726103 566400 38400 SH SOLE 38400 0 0 FARO TECHNOLOGIES INC COM 311642102 4493157 164826 SH SOLE 164826 0 0 FEDEX CORP COM 31428X106 76033960 938575 SH SOLE 938575 0 0 FIDELITY NATL FINL INC COM 316326107 7141569 200100 SH SOLE 200100 0 0 FIRST MARBLEHEAD CORP COM 320771108 3216755 91750 SH SOLE 91750 0 0 FIRST NIAGARA FINL GP INC COM 33582V108 1033722 70900 SH SOLE 70900 0 0 FIRSTENERGY CORP COM 337932107 16272245 338230 SH SOLE 338230 0 0 FISHER SCIENTIFIC INTL INC NOTE 3.250% 3/0 338032AX3 15350700 14719000 SH SOLE 14719000 0 0 FISHER SCIENTIFIC INTL INC NOTE 2.500%10/0 338032AW5 12628950 8510000 SH SOLE 8510000 0 0 FISHER SCIENTIFIC INTL INC COM NEW 338032204 85353235 1315150 SH SOLE 1315150 0 0 FLEXTRONICS INTL LTD NOTE 1.000% 8/0 33938EAL1 15765164 15015000 SH SOLE 15015000 0 0 FLIR SYS INC COM 302445101 5977907 200332 SH SOLE 200332 0 0 FLOWSERVE CORP COM 34354P105 190638 6300 SH SOLE 6300 0 0 FLUOR CORP NEW COM 343412102 3823976 66400 SH SOLE 66400 0 0 FORD MTR CO CAP TR II PFD TR CV6.5% 345395206 13594814 334890 SH SOLE 334890 0 0 FOSSIL INC COM 349882100 6438787 283647 SH SOLE 283647 0 0 FREMONT GEN CORP COM 357288109 2997456 123200 SH SOLE 123200 0 0 GANNETT INC COM 364730101 12871685 180960 SH SOLE 180960 0 0 GAP INC DEL COM 364760108 50932742 2578873 SH SOLE 2578873 0 0 GARMIN LTD ORD G37260109 3659400 85600 SH SOLE 85600 0 0 GEN-PROBE INC NEW COM 36866T103 1876714 51800 SH SOLE 51800 0 0 GENENTECH INC COM NEW 368710406 67696110 843250 SH SOLE 843250 0 0 GENERAL ELEC CO COM 369604103 75771753 2186775 SH SOLE 2186775 0 0 GENERAL GROWTH PPTYS INC COM 370021107 8510930 207129 SH SOLE 207129 0 0 GENERAL MLS INC COM 370334104 45576969 974075 SH SOLE 974075 0 0 GENERAL MLS INC DBCV 10/2 370334AU8 5708400 8040000 SH SOLE 8040000 0 0 GENERAL MTRS CORP DEB SR CONV A 370442741 15553954 635800 SH SOLE 635800 0 0 GENERAL MTRS CORP DEB SR CV C 33 370442717 6386831 300000 SH SOLE 300000 0 0 GENLYTE GROUP INC COM 372302109 6132857 125828 SH SOLE 125828 0 0 GENZYME CORP NOTE 1.250%12/0 372917AN4 26107024 24902000 SH SOLE 24902000 0 0 GETTY IMAGES INC COM 374276103 2680786 36100 SH SOLE 36100 0 0 GILEAD SCIENCES INC COM 375558103 61329758 1394175 SH SOLE 1394175 0 0 GLAXOSMITHKLINE PLC SPONSORED ADR 37733W105 7023346 144871 SH SOLE 144871 0 0 GLOBAL IMAGING SYSTEMS COM 37934A100 5528538 173526 SH SOLE 173526 0 0 GLOBAL INDS LTD COM 379336100 1900889 223634 SH SOLE 223634 0 0 GLOBAL POWER EQUIPMENT INC COM 37941P108 2214075 278500 SH SOLE 278500 0 0 GLOBALSANTAFE CORP SHS G3930E101 62417675 1529845 SH SOLE 1529845 0 0 GOLDMAN SACHS GROUP INC COM 38141G104 39971232 391798 SH SOLE 391798 0 0 GOODYEAR TIRE & RUBR CO COM 382550101 44290995 2972550 SH SOLE 2972550 0 0 GRAFTECH INTL LTD COM 384313102 4129044 960243 SH SOLE 960243 0 0 GRANT PRIDECO INC COM 38821G101 6979203 263864 SH SOLE 263864 0 0 GREEN MOUNTAIN PWR CORP COM 393154109 626640 21000 SH SOLE 21000 0 0 GREY WOLF INC COM 397888108 3804561 513436 SH SOLE 513436 0 0 GUESS INC COM 401617105 1830432 110400 SH SOLE 110400 0 0 GUITAR CTR MGMT INC COM 402040109 8898857 152456 SH SOLE 152456 0 0 HALLIBURTON CO NOTE 3.125% 7/1 406216AM3 71089023 50945000 SH SOLE 50945000 0 0 HANMI FINL CORP COM 410495105 4749447 284398 SH SOLE 284398 0 0 HANOVER COMPRESSOR CO COM 410768105 2287198 198714 SH SOLE 198714 0 0 HARLEY DAVIDSON INC COM 412822108 70247240 1416275 SH SOLE 1416275 0 0 HARMAN INTL INDS INC COM 413086109 51484608 632800 SH SOLE 632800 0 0 HARTFORD FINL SVCS GROUP INC COM 416515104 63236286 845631 SH SOLE 845631 0 0 HCA INC COM 404119109 31018551 547354 SH SOLE 547354 0 0 HEALTH MGMT ASSOC INC NEW CL A 421933102 2623236 100200 SH SOLE 100200 0 0 HEALTH NET INC COM 42222G108 4094568 107300 SH SOLE 107300 0 0 HEALTHTRONICS INC COM 42222L107 1471767 113300 SH SOLE 113300 0 0 HERLEY INDS INC DEL COM 427398102 1539456 84400 SH SOLE 84400 0 0 HEWLETT PACKARD CO COM 428236103 20216742 859921 SH SOLE 859921 0 0 HIBBETT SPORTING GOODS INC COM 428565105 5605845 148146 SH SOLE 148146 0 0 HIBERNIA CORP CL A 428656102 9787038 294968 SH SOLE 294968 0 0 HIGHWOODS PPTYS INC COM 431284108 14542164 488648 SH SOLE 488648 0 0 HILTON HOTELS CORP NOTE 3.375% 4/1 432848AZ2 43067262 35389000 SH SOLE 35389000 0 0 HOOPER HOLMES INC COM 439104100 2144616 516775 SH SOLE 516775 0 0 HOSPITALITY PPTYS TR COM SH BEN INT 44106M102 105768 2400 SH SOLE 2400 0 0 HOUSTON EXPL CO COM 442120101 1359034 25618 SH SOLE 25618 0 0 HOVNANIAN ENTERPRISES INC CL A 442487203 23631740 362450 SH SOLE 362450 0 0 HSBC HLDGS PLC SPON ADR NEW 404280406 14140082 177550 SH SOLE 177550 0 0 HUGHES SUPPLY INC COM 444482103 5844828 208001 SH SOLE 208001 0 0 ILLINOIS TOOL WKS INC COM 452308109 68176200 855625 SH SOLE 855625 0 0 IMAGISTICS INTERNATIONAL INC COM 45247T104 2601200 92900 SH SOLE 92900 0 0 IMMUCOR INC COM 452526106 9014132 311369 SH SOLE 311369 0 0 INCO LTD COM 453258402 32105658 850481 SH SOLE 850481 0 0 INDYMAC BANCORP INC COM 456607100 8005481 196550 SH SOLE 196550 0 0 INFOSPACE INC COM NEW 45678T201 1458799 44300 SH SOLE 44300 0 0 INGLES MKTS INC CL A 457030104 448902 32600 SH SOLE 32600 0 0 INNOVATIVE SOLUTIONS & SUPPO COM 45769N105 5224533 155631 SH SOLE 155631 0 0 INPUT/OUTPUT INC COM 457652105 1727000 275000 SH SOLE 275000 0 0 INSITUFORM TECHNOLOGIES INC CL A 457667103 2629256 164021 SH SOLE 164021 0 0 INTEGRA LIFESCIENCES HLDGS C COM NEW 457985208 4731247 162029 SH SOLE 162029 0 0 INTEL CORP COM 458140100100295167 3848625 SH SOLE 3848625 0 0 INTERNATIONAL BUSINESS MACHS COM 459200101 80949083 1090958 SH SOLE 1090958 0 0 INTERNATIONAL GAME TECHNOLOG DBCV 1/2 459902AL6 16141313 24542000 SH SOLE 24542000 0 0 INTERNATIONAL RECTIFIER CORP COM 460254105 882820 18500 SH SOLE 18500 0 0 INTEROIL CORP COM 460951106 4125815 151796 SH SOLE 151796 0 0 INTL PAPER CO DBCV 6/2 460146BM4 18783255 34174000 SH SOLE 34174000 0 0 INTL PAPER CO COM 460146103 747909 24757 SH SOLE 24757 0 0 INVESTORS FINL SERVICES CORP COM 461915100 1380430 36500 SH SOLE 36500 0 0 INVITROGEN CORP NOTE 1.500% 2/1 46185RAK6 18763044 19282000 SH SOLE 19282000 0 0 INVITROGEN CORP COM 46185R100 5180638 62200 SH SOLE 62200 0 0 IOWA TELECOMM SERVICES INC COM 462594201 2113125 112700 SH SOLE 112700 0 0 ISHARES INC MSCI UTD KINGD 464286699 14859572 826910 SH SOLE 826910 0 0 ISHARES TR MSCI EAFE IDX 464287465 6648601 127100 SH SOLE 127100 0 0 ISHARES TR RUSSELL1000VAL 464287598 16900968 253312 SH SOLE 253312 0 0 ISLE OF CAPRI CASINOS INC COM 464592104 7874410 300550 SH SOLE 300550 0 0 IXIA COM 45071R109 6222316 320078 SH SOLE 320078 0 0 JARDEN CORP COM 471109108 11740109 217732 SH SOLE 217732 0 0 JEFFERIES GROUP INC NEW COM 472319102 6559630 173123 SH SOLE 173123 0 0 JO-ANN STORES INC COM 47758P307 1221857 46300 SH SOLE 46300 0 0 JOHNSON & JOHNSON COM 478160104 83389605 1282917 SH SOLE 1282917 0 0 JOS A BANK CLOTHIERS INC COM 480838101 8303728 191772 SH SOLE 191772 0 0 JOURNAL REGISTER CO COM 481138105 2283304 130400 SH SOLE 130400 0 0 JOY GLOBAL INC COM 481165108 2472224 73600 SH SOLE 73600 0 0 JPMORGAN & CHASE & CO COM 46625H100 43728632 1238070 SH SOLE 1238070 0 0 KADANT INC COM 48282T104 3039498 138600 SH SOLE 138600 0 0 KB HOME COM 48666K109 7539147 98900 SH SOLE 98900 0 0 KEANE INC COM 486665102 1964196 143372 SH SOLE 143372 0 0 KELLWOOD CO COM 488044108 2141240 79600 SH SOLE 79600 0 0 KENNAMETAL INC COM 489170100 91700 2000 SH SOLE 2000 0 0 KERR MCGEE CORP COM 492386107 22245967 291521 SH SOLE 291521 0 0 KIMBERLY CLARK CORP COM 494368103 53859884 860519 SH SOLE 860519 0 0 KIRBY CORP COM 497266106 5810143 128828 SH SOLE 128828 0 0 KNIGHT TRANSN INC COM 499064103 4477669 184039 SH SOLE 184039 0 0 KOHLS CORP COM 500255104 85505958 1529350 SH SOLE 1529350 0 0 KRAFT FOODS INC CL A 50075N104 23282407 731921 SH SOLE 731921 0 0 KROGER CO COM 501044101 75959387 3991560 SH SOLE 3991560 0 0 L-3 COMMUNICATIONS HLDGS INC COM 502424104 81932942 1069900 SH SOLE 1069900 0 0 LA QUINTA CORP PAIRED CTF 50419U202 2604003 279100 SH SOLE 279100 0 0 LA Z BOY INC COM 505336107 2675751 183648 SH SOLE 183648 0 0 LABOR READY INC COM NEW 505401208 3449880 148000 SH SOLE 148000 0 0 LABORATORY CORP AMER HLDGS COM NEW 50540R409 154690 3100 SH SOLE 3100 0 0 LABORATORY CORP AMER HLDGS NOTE 9/1 50540RAC6127830635167900000 SH SOLE 167900000 0 0 LAMAR ADVERTISING CO NOTE 2.875%12/3 512815AG6 12097460 11630000 SH SOLE 11630000 0 0 LANDAMERICA FINL GROUP INC COM 514936103 4167774 70200 SH SOLE 70200 0 0 LAS VEGAS SANDS CORP COM 517834107 2960100 82800 SH SOLE 82800 0 0 LEARNING TREE INTL INC COM 522015106 1117319 92955 SH SOLE 92955 0 0 LEGG MASON INC COM 524901105 2623572 25200 SH SOLE 25200 0 0 LENNAR CORP CL A 526057104100621230 1585835 SH SOLE 1585835 0 0 LIBERTY MEDIA CORP NEW DEB 0.750% 3/3 530718AF2 914685 867000 SH SOLE 867000 0 0 LIMITED BRANDS INC COM 532716107 1934226 90300 SH SOLE 90300 0 0 LINCARE HLDGS INC DBCV 3.000% 6/1 532791AB6 57505372 57615000 SH SOLE 57615000 0 0 LLOYDS TSB GROUP PLC SPONSORED ADR 539439109 2019343 59375 SH SOLE 59375 0 0 LOWES COS INC COM 548661107 77940569 1338725 SH SOLE 1338725 0 0 LSI LOGIC CORP COM 502161102 66222 7800 SH SOLE 7800 0 0 LSI LOGIC CORP NOTE 4.000%11/0 502161AG7 38424235 39486000 SH SOLE 39486000 0 0 LUCENT TECHNOLOGIES INC DBCV 2.750% 6/1 549463AH0 3148565 2775000 SH SOLE 2775000 0 0 LUCENT TECHNOLOGIES INC COM 549463107 29390484 10099823 SH SOLE 10099823 0 0 LYDALL INC DEL COM 550819106 1592114 184700 SH SOLE 184700 0 0 M D C HLDGS INC COM 552676108 12139030 147587 SH SOLE 147587 0 0 M/I HOMES INC COM 55305B101 3962338 73241 SH SOLE 73241 0 0 MAGELLAN HEALTH SVCS INC COM NEW 559079207 6532 185 SH SOLE 185 0 0 MANITOWOC INC COM 563571108 98448 2400 SH SOLE 2400 0 0 MANNKIND CORP COM 56400P201 2101455 209100 SH SOLE 209100 0 0 MARSHALL & ILSLEY CORP COM 571834100 9289561 208989 SH SOLE 208989 0 0 MASCO CORP COM 574599106 412880 13000 SH SOLE 13000 0 0 MASSEY ENERGY CORP COM 576206106 12153384 322200 SH SOLE 322200 0 0 MASSEY ENERGY CORP COM 576206106 190222 5043 SH SOLE 5043 0 0 MATTEL INC COM 577081102 22862665 1249326 SH SOLE 1249326 0 0 MATTSON TECHNOLOGY INC COM 577223100 1575200 220000 SH SOLE 220000 0 0 MAVERICK TUBE CORP COM 577914104 9953707 334017 SH SOLE 334017 0 0 MAXIM INTEGRATED PRODS INC COM 57772K101 28076708 734800 SH SOLE 734800 0 0 MBNA CORP COM 55262L100 13285618 507860 SH SOLE 507860 0 0 MCGRAW HILL COS INC COM 580645109 1619550 36600 SH SOLE 36600 0 0 MENTOR GRAPHICS CORP COM 587200106 1389900 135600 SH SOLE 135600 0 0 MERCANTILE BANK CORP COM 587376104 1072868 24400 SH SOLE 24400 0 0 MERCK & CO INC COM 589331107 5867400 190500 SH SOLE 190500 0 0 MERCURY INTERACTIVE CORP COM 589405109 1561252 40700 SH SOLE 40700 0 0 MERISTAR HOSPITALITY CORP COM 58984Y103 8059060 937100 SH SOLE 937100 0 0 MERIT MED SYS INC COM 589889104 1542541 100100 SH SOLE 100100 0 0 MERITAGE HOMES CORP COM 59001A102 10873056 136768 SH SOLE 136768 0 0 MERRILL LYNCH & CO INC COM 590188108 35654071 648138 SH SOLE 648138 0 0 METRIS COS INC COM 591598107 6290100 435000 SH SOLE 435000 0 0 MGI PHARMA INC COM 552880106 1031424 47400 SH SOLE 47400 0 0 MICHAELS STORES INC COM 594087108 8782851 212300 SH SOLE 212300 0 0 MICROS SYS INC COM 594901100 8564076 191376 SH SOLE 191376 0 0 MICROSOFT CORP COM 594918104 53130971 2138928 SH SOLE 2138928 0 0 MINE SAFETY APPLIANCES CO COM 602720104 3617460 78300 SH SOLE 78300 0 0 MKS INSTRUMENT INC COM 55306N104 1526856 90400 SH SOLE 90400 0 0 MOBILE MINI INC COM 60740F105 1851576 53700 SH SOLE 53700 0 0 MOHAWK INDS INC COM 608190104 7779750 94300 SH SOLE 94300 0 0 MOLINA HEALTHCARE INC COM 60855R100 5603360 126601 SH SOLE 126601 0 0 MORGAN STANLEY COM NEW 617446448 65078593 1240301 SH SOLE 1240301 0 0 MOSAIC CO COM 61945A107 1215236 78100 SH SOLE 78100 0 0 MOTOROLA INC COM 620076109 96095769 5262638 SH SOLE 5262638 0 0 MSC INDL DIRECT INC CL A 553530106 7486594 221825 SH SOLE 221825 0 0 NABI BIOPHARMACEUTICALS COM 629519109 948829 62300 SH SOLE 62300 0 0 NATIONAL-OILWELL INC COM 637071101 5852174 123100 SH SOLE 123100 0 0 NAVIGANT INTL INC COM 63935R108 994513 67700 SH SOLE 67700 0 0 NCI BUILDING SYS INC COM 628852105 1075840 32800 SH SOLE 32800 0 0 NEKTAR THERAPEUTICS COM 640268108 4313795 256167 SH SOLE 256167 0 0 NEWFIELD EXPL CO COM 651290108 11520232 288800 SH SOLE 288800 0 0 NEXSTAR BROADCASTING GROUP I CL A 65336K103 2147680 346400 SH SOLE 346400 0 0 NIKE INC CL B 654106103 78258255 903675 SH SOLE 903675 0 0 NOKIA CORP SPONSORED ADR 654902204 56354255 3388674 SH SOLE 3388674 0 0 NORTEL NETWORKS CORP NEW NOTE 4.250% 9/0 656568AB8 97782956103323000 SH SOLE 103323000 0 0 NORTHROP GRUMMAN CORP COM 666807102 47607433 861673 SH SOLE 861673 0 0 NORTHWEST AIRLS CORP NOTE 7.625%11/1 667280AE1 5311731 13405000 SH SOLE 13405000 0 0 NOVARTIS A G SPONSORED ADR 66987V109 15000780 316272 SH SOLE 316272 0 0 NTL INC DEL COM 62940M104 36726419 536779 SH SOLE 536779 0 0 OFFSHORE LOGISTICS INC COM 676255102 1940844 59100 SH SOLE 59100 0 0 OLD DOMINION FGHT LINES INC COM 679580100 4319120 160981 SH SOLE 160981 0 0 OLIN CORP COM PAR $1 680665205 13543492 742516 SH SOLE 742516 0 0 OMI CORP NEW COM Y6476W104 5096220 268081 SH SOLE 268081 0 0 OMNICARE INC COM 681904108 5151002 121400 SH SOLE 121400 0 0 OMNICOM GROUP INC COM 681919106 62526387 782950 SH SOLE 782950 0 0 OMNOVA SOLUTIONS INC COM 682129101 2451160 526000 SH SOLE 526000 0 0 ORACLE CORP COM 68389X105 42910586 3250802 SH SOLE 3250802 0 0 OSHKOSH B GOSH INC CL A 688222207 1095712 42159 SH SOLE 42159 0 0 OSHKOSH TRUCK CORP COM 688239201 7487482 95650 SH SOLE 95650 0 0 OVERSEAS SHIPHOLDING GROUP I COM 690368105 864925 14500 SH SOLE 14500 0 0 OWENS ILL INC COM NEW 690768403100281563 4003256 SH SOLE 4003256 0 0 PACIFICARE HEALTH SYS DEL COM 695112102 14975920 209600 SH SOLE 209600 0 0 PACKAGING DYNAMICS CORP COM 695160101 431138.4 30800 SH SOLE 30800 0 0 PARKER DRILLING CO COM 701081101 1526778 217800 SH SOLE 217800 0 0 PEABODY ENERGY CORP COM 704549104 60093190 1154750 SH SOLE 1154750 0 0 PENN NATL GAMING INC COM 707569109 14384030 394083 SH SOLE 394083 0 0 PENTAIR INC COM 709631105 2821179 65900 SH SOLE 65900 0 0 PEPSICO INC COM 713448108 41014520 760514 SH SOLE 760514 0 0 PERFORMANCE FOOD GROUP CO COM 713755106 1054329 34900 SH SOLE 34900 0 0 PETCO ANIMAL SUPPLIES COM NEW 716016209 3417099 116545 SH SOLE 116545 0 0 PETROLEUM DEV CORP COM 716578109 123674 3883 SH SOLE 3883 0 0 PFIZER INC COM 717081103 85894021 3114359 SH SOLE 3114359 0 0 PG&E CORP NOTE 9.500% 6/3 69331CAD0 9265754 3115000 SH SOLE 3115000 0 0 PG&E CORP COM 69331C108 7232981 192674 SH SOLE 192674 0 0 PHARMACEUTICAL HLDRS TR DEPOSITRY RCPT 71712A206 12134460 165500 SH SOLE 165500 0 0 PHARMACEUTICAL PROD DEV INC COM 717124101 3502785 74750 SH SOLE 74750 0 0 PHELPS DODGE CORP COM 717265102 647500 7000 SH SOLE 7000 0 0 PINNACLE WEST CAP CORP COM 723484101 106680 2400 SH SOLE 2400 0 0 PIONEER NAT RES CO COM 723787107 2398560 57000 SH SOLE 57000 0 0 PITNEY BOWES INC COM 724479100 20403654 468511 SH SOLE 468511 0 0 PLACER DOME INC COM 725906101 6102015 396750 SH SOLE 396750 0 0 PLACER DOME INC DBCV 2.750%10/1 725906AK7 2962543 2785000 SH SOLE 2785000 0 0 PMA CAP CORP DBCV 6.500% 9/3 693419AD5 18077536 16050000 SH SOLE 16050000 0 0 PMI GROUP INC COM 69344M101 88822361 2278665 SH SOLE 2278665 0 0 PMI GROUP INC DBCV 2.500% 7/1 69344MAE1 252962 245000 SH SOLE 245000 0 0 PNC FINL SVCS GROUP INC COM 693475105 25549201 469137 SH SOLE 469137 0 0 POLYONE CORP COM 73179P106 142330 21500 SH SOLE 21500 0 0 PPL CORP COM 69351T106 22834935 384556 SH SOLE 384556 0 0 PRA INTL COM 69353C101 2678000 100000 SH SOLE 100000 0 0 PRAXAIR INC COM 74005P104 85670605 1838425 SH SOLE 1838425 0 0 PRIDE INTL INC DEL COM 74153Q102110859751 4313609 SH SOLE 4313609 0 0 PRIDE INTL INC DEL NOTE 3.250% 5/0 74153QAD4 71977452 59555000 SH SOLE 59555000 0 0 PRIORITY HEALTHCARE CORP CL B 74264T102 2665336 105100 SH SOLE 105100 0 0 PROCTER & GAMBLE CO COM 742718109 3305842 62670 SH SOLE 62670 0 0 PROGRESS SOFTWARE CORP COM 743312100 2460240 81600 SH SOLE 81600 0 0 PROQUEST COMPANY COM 74346P102 2879748 87824 SH SOLE 87824 0 0 PROVIDENT FINL SVCS INC COM 74386T105 1344105 76500 SH SOLE 76500 0 0 PROVIDIAN FINL CORP COM 74406A102 3079961 174700 SH SOLE 174700 0 0 PROVIDIAN FINL CORP NOTE 3.250% 8/1 74406AAA0 36160127 36025000 SH SOLE 36025000 0 0 PRUDENTIAL FINL INC COM 744320102 38103286 580312 SH SOLE 580312 0 0 PUBLIC SVC ENTERPRISE GROUP COM 744573106 15399624 253200 SH SOLE 253200 0 0 PULTE HOMES INC COM 745867101 1011000 12000 SH SOLE 12000 0 0 QLOGIC CORP COM 747277101 2534427 82100 SH SOLE 82100 0 0 QUADRAMED CORP COM 74730W101 12987363 7047617 SH SOLE 7047617 0 0 QUALCOMM INC COM 747525103 26666303 807825 SH SOLE 807825 0 0 QUALITY DISTR INC FLA COM 74756M102 2454990 277400 SH SOLE 277400 0 0 QUEST DIAGNOSTICS INC COM 74834L100 77284116 1450800 SH SOLE 1450800 0 0 RAYTHEON CO COM NEW 755111507 43740267 1118105 SH SOLE 1118105 0 0 REGAL ENTMT GROUP CL A 758766109 7110491 376615 SH SOLE 376615 0 0 REINSURANCE GROUP AMER INC COM 759351109 1488320 32000 SH SOLE 32000 0 0 RELIANT ENERGY INC NOTE 5.000% 8/1 75952BAD7 10090877 6770000 SH SOLE 6770000 0 0 REMINGTON OIL & GAS CORP COM 759594302 6897311 193202 SH SOLE 193202 0 0 REMOTE DYNAMICS INC COM 75962A105 942773 645735 SH SOLE 645735 0 0 RESEARCH IN MOTION LTD COM 760975102 17030718 230925 SH SOLE 230925 0 0 RESPIRONICS INC COM 761230101 2758804 76400 SH SOLE 76400 0 0 ROPER INDS INC NEW COM 776696106 5495490 77000 SH SOLE 77000 0 0 ROWAN COS INC COM 779382100132870131 4472236 SH SOLE 4472236 0 0 ROYAL DUTCH PETE CO NY REG EUR .56 780257804 21639607 333430 SH SOLE 333430 0 0 RUSSELL CORP COM 782352108 1362542 66628 SH SOLE 66628 0 0 RYANAIR HLDGS PLC SPONSORED ADR 783513104 10605736 236524 SH SOLE 236524 0 0 RYLAND GROUP INC COM 783764103 16875309 222424 SH SOLE 222424 0 0 S & T BANCORP INC COM 783859101 1142276 31642 SH SOLE 31642 0 0 SAFENET INC COM 78645R107 3031340 89000 SH SOLE 89000 0 0 SANDY SPRING BANCORP INC COM 800363103 525450 15000 SH SOLE 15000 0 0 SBC COMMUNICATIONS INC COM 78387G103 28407826 1196119 SH SOLE 1196119 0 0 SCANA CORP NEW COM 80589M102 102504 2400 SH SOLE 2400 0 0 SCANSOURCE INC COM 806037107 4533949 105588 SH SOLE 105588 0 0 SCHEIN HENRY INC COM 806407102 3998376 96300 SH SOLE 96300 0 0 SCHERING PLOUGH CORP PFD CONV MAND 806605606 3405464 66800 SH SOLE 66800 0 0 SCHLUMBERGER LTD DBCV 1.500% 6/0 806857AC2 75290844 64931000 SH SOLE 64931000 0 0 SCHOLASTIC CORP COM 807066105 42405 1100 SH SOLE 1100 0 0 SCIENTIFIC GAMES CORP CL A 80874P109 2380612 88400 SH SOLE 88400 0 0 SCOTTISH RE GROUP LTD ORD G7885T104 2394912 98800 SH SOLE 98800 0 0 SCOTTS CO CL A 810186106 4194269 58900 SH SOLE 58900 0 0 SEMICONDUCTOR HLDRS TR DEP RCPT 816636203 3016832 89600 SH SOLE 89600 0 0 SFBC INTL INC COM 784121105 2437553 63100 SH SOLE 63100 0 0 SHERWIN WILLIAMS CO COM 824348106 4454714 94600 SH SOLE 94600 0 0 SHUFFLE MASTER INC COM 825549108 2235392 79750 SH SOLE 79750 0 0 SIERRA HEALTH SVCS INC COM 826322109 16863202 235981 SH SOLE 235981 0 0 SIERRA PAC RES NEW COM 826428104 1705650 137000 SH SOLE 137000 0 0 SIGMATEL INC COM 82661W107 4160785 242470 SH SOLE 242470 0 0 SILICON GRAPHICS INC COM 827056102 1070786 1508150 SH SOLE 1508150 0 0 SIMPSON MANUFACTURING CO INC COM 829073105 5221087 170903 SH SOLE 170903 0 0 SINCLAIR BROADCAST GROUP INC CL A 829226109 4325984 476430 SH SOLE 476430 0 0 SIRIUS SATELLITE RADIO INC NOTE 2.500% 2/1 82966UAC7 11886222 7520000 SH SOLE 7520000 0 0 SIRIUS SATELLITE RADIO INC COM 82966U103 4802328 741100 SH SOLE 741100 0 0 SIX FLAGS INC NOTE 4.500% 5/1 83001PAJ8 2951250 3000000 SH SOLE 3000000 0 0 SL GREEN RLTY CORP COM 78440X101 167700 2600 SH SOLE 2600 0 0 SMART & FINAL INC COM 831683107 490000 40000 SH SOLE 40000 0 0 SMURFIT-STONE CONTAINER CORP COM 832727101 40053996 3938446 SH SOLE 3938446 0 0 SOVEREIGN BANCORP INC COM 845905108 28342110 1268671 SH SOLE 1268671 0 0 SPARTECH CORP COM NEW 847220209 1157000 65000 SH SOLE 65000 0 0 SPDR TR UNIT SER 1 78462F103 15229492 127850 SH SOLE 127850 0 0 SPRINT CORP COM FON 852061100 93732827 3735864 SH SOLE 3735864 0 0 ST JOE CO COM 790148100 10551276 129400 SH SOLE 129400 0 0 ST PAUL TRAVELERS INC COM 792860108 51046591 1291338 SH SOLE 1291338 0 0 STANLEY WKS COM 854616109 3757050 82500 SH SOLE 82500 0 0 STAR GAS PARTNERS L P UNIT LTD PARTNR 85512C105 1710000 600000 SH SOLE 600000 0 0 STARBUCKS CORP COM 855244109 309960 6000 SH SOLE 6000 0 0 STATE STR CORP COM 857477103 46542770 964617 SH SOLE 964617 0 0 STATE STR CORP SPACES 857477202 8596003 39338 SH SOLE 39338 0 0 STATION CASINOS INC COM 857689103 2748960 41400 SH SOLE 41400 0 0 STEEL DYNAMICS INC COM 858119100 947625 36100 SH SOLE 36100 0 0 STEEL TECHNOLOGIES INC COM 858147101 1542717 91285 SH SOLE 91285 0 0 STEIN MART INC COM 858375108 2114200 96100 SH SOLE 96100 0 0 STEWART ENTERPRISES INC CL A 860370105 719400 110000 SH SOLE 110000 0 0 SUN COMMUNITIES INC COM 866674104 1818591 48900 SH SOLE 48900 0 0 SUPERIOR ENERGY SVCS INC COM 868157108 1879680 105600 SH SOLE 105600 0 0 SUPERVALU INC NOTE 11/0 868536AP8 10129818 29080000 SH SOLE 29080000 0 0 SURMODICS INC COM 868873100 7364356 169803 SH SOLE 169803 0 0 SYMANTEC CORP COM 871503108 62482390 2874075 SH SOLE 2874075 0 0 TELEWEST GLOBAL INC COM 87956T107 30688874 1347185 SH SOLE 1347185 0 0 TEMPLE INLAND INC COM 879868107 14607863 393213 SH SOLE 393213 0 0 TEREX CORP NEW COM 880779103 14462597 367071 SH SOLE 367071 0 0 TESORO CORP COM 881609101 4172844 89700 SH SOLE 89700 0 0 TESSERA TECHNOLOGIES INC COM 88164L100 5806524 173796 SH SOLE 173796 0 0 TETRA TECHNOLOGIES INC DEL COM 88162F105 5642259 177151 SH SOLE 177151 0 0 TEVA PHARMACEUTICAL FIN II L DBCV 0.500% 2/0 88164RAA5 11461068 11560000 SH SOLE 11560000 0 0 TEVA PHARMACEUTICAL INDS LTD ADR 881624209 58541521 1880550 SH SOLE 1880550 0 0 TEVA PHARMACEUTICALS FIN B V DBCV 0.375%11/1 88164MAB4 50415935 33997000 SH SOLE 33997000 0 0 TEXAS INSTRS INC COM 882508104 98623439 3513482 SH SOLE 3513482 0 0 THQ INC COM NEW 872443403 1396179 47700 SH SOLE 47700 0 0 TIDEWATER INC COM 886423102 10036996 263300 SH SOLE 263300 0 0 TIME WARNER INC COM 887317105 47635648 2850727 SH SOLE 2850727 0 0 TIMKEN CO COM 887389104 3319100 143684 SH SOLE 143684 0 0 TJX COS INC NEW COM 872540109 55733497 2288850 SH SOLE 2288850 0 0 TOO INC COM 890333107 1797456 76913 SH SOLE 76913 0 0 TORO CO COM 891092108 8698833 225300 SH SOLE 225300 0 0 TORONTO DOMINION BK ONT COM NEW 891160509 28282 634 SH SOLE 634 0 0 TOYOTA MOTOR CORP SP ADR REP2COM 892331307 21175338 296200 SH SOLE 296200 0 0 TRAMMELL CROW CO COM 89288R106 2445816 100900 SH SOLE 100900 0 0 TRANSOCEAN INC ORD G90078109223716821 4145207 SH SOLE 4145207 0 0 TRANSOCEAN SEDCO FOREX INC DBCV 1.500% 5/1 893830AD1 353937 350000 SH SOLE 350000 0 0 TREX INC COM 89531P105 2574523 100176 SH SOLE 100176 0 0 TRIMBLE NAVIGATION LTD COM 896239100 7123599 182797 SH SOLE 182797 0 0 TRW AUTOMOTIVE HLDGS CORP COM 87264S106 18838509 768605 SH SOLE 768605 0 0 TYCO INTL GROUP S A DBCV 3.125% 1/1 902118BG2 1399090 1012000 SH SOLE 1012000 0 0 TYCO INTL GROUP S A DBCV 2.750% 1/1 902118BF4 37276492 28565000 SH SOLE 28565000 0 0 UBS AG NAMEN AKT H8920M855 8995489 115549 SH SOLE 115549 0 0 UCBH HOLDINGS INC COM 90262T308 9135097 562506 SH SOLE 562506 0 0 UGI CORP NEW COM 902681105 2678400 96000 SH SOLE 96000 0 0 UNITED TECHNOLOGIES CORP COM 913017109 82673500 1610000 SH SOLE 1610000 0 0 UNITED THERAPEUTICS CORP DEL COM 91307C102 1407440 29200 SH SOLE 29200 0 0 UNITEDHEALTH GROUP INC COM 91324P102143575519 2753654 SH SOLE 2753654 0 0 UNIVERSAL HLTH SVCS INC CL B 913903100 14171568 227912 SH SOLE 227912 0 0 US BANCORP DEL COM NEW 902973304 42550707 1457216 SH SOLE 1457216 0 0 VARIAN MED SYS INC COM 92220P105 7029239 188300 SH SOLE 188300 0 0 VARIAN SEMICONDUCTOR EQUIPMN COM 922207105 714100 19300 SH SOLE 19300 0 0 VENTIV HEALTH INC COM 922793104 1748696 90700 SH SOLE 90700 0 0 VERITAS SOFTWARE CO COM 923436109 3708190 151975 SH SOLE 151975 0 0 VERIZON COMMUNICATIONS COM 92343V104 43332472 1254196 SH SOLE 1254196 0 0 VERIZON GLOBAL FDG CORP NOTE 5/1 92344GAN6 9577681 15355000 SH SOLE 15355000 0 0 VIACOM INC CL B 925524308 1338436 41800 SH SOLE 41800 0 0 VIASYS HEALTHCARE INC COM NEW 92553Q209 2299662 101800 SH SOLE 101800 0 0 W HLDG CO INC COM 929251106 2570330 251500 SH SOLE 251500 0 0 WABASH NATL CORP COM 929566107 4302012 177549 SH SOLE 177549 0 0 WABTEC CORP COM 929740108 10360212 482319 SH SOLE 482319 0 0 WACHOVIA CORP 2ND NEW COM 929903102 39090603 788117 SH SOLE 788117 0 0 WADDELL & REED FINL INC CL A 930059100 1933250 104500 SH SOLE 104500 0 0 WALGREEN CO COM 931422109 74600379 1622100 SH SOLE 1622100 0 0 WARNACO GROUP INC COM NEW 934390402 2155275 92700 SH SOLE 92700 0 0 WASHINGTON MUT INC COM 939322103 26544162 652351 SH SOLE 652351 0 0 WAUSAU-MOSINEE PAPER CORP COM 943315101 3152740 263167 SH SOLE 263167 0 0 WCI CMNTYS INC COM 92923C104 16963697 529619 SH SOLE 529619 0 0 WEATHERFORD INTERNATIONAL LT COM G95089101 73736065 1271750 SH SOLE 1271750 0 0 WEATHERFORD INTL INC DBCV 6/3 947074AB6 1482975 2340000 SH SOLE 2340000 0 0 WELLCHOICE INC COM 949475107 14880474 214200 SH SOLE 214200 0 0 WELLPOINT INC COM 94973V107107416218 1542450 SH SOLE 1542450 0 0 WELLS FARGO & CO NEW COM 949746101 32244089 523613 SH SOLE 523613 0 0 WESCO INTL INC COM 95082P105 4710138 150100 SH SOLE 150100 0 0 WESTCORP INC COM 957907108 13260792 252972 SH SOLE 252972 0 0 WHOLE FOODS MKT INC SDCV 3/0 966837AC0 2106313 1675000 SH SOLE 1675000 0 0 WINNEBAGO INDS INC COM 974637100 3183300 97200 SH SOLE 97200 0 0 WINTRUST FINANCIAL CORP COM 97650W108 8317368 158880 SH SOLE 158880 0 0 WORLD FUEL SVCS CORP COM 981475106 2013260 86000 SH SOLE 86000 0 0 WYETH COM 983024100 18593569 417833 SH SOLE 417833 0 0 XEROX CORP PFD CONV SER C 984121509 8977095 74575 SH SOLE 74575 0 0 XL CAP LTD CL A G98255105 2388287 32092 SH SOLE 32092 0 0 YAHOO INC FRNT 4/0 984332AB2 15086554 8665000 SH SOLE 8665000 0 0 YAHOO INC FRNT 4/0 984332AB2 927378 538000 SH SOLE 538000 0 0 YANKEE CANDLE INC COM 984757104 6575204 204835 SH SOLE 204835 0 0 YELLOW ROADWAY CORP COM 985577105 121920 2400 SH SOLE 2400 0 0 ZORAN CORP COM 98975F101 2627433 197700 SH SOLE 197700 0 0
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