-----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, MDLM7OjNPxAeeBZlVOMiV5rDySCEja4y17Tn4zFD9NKIqZ0SauIVzMYJL5vIwLJ+ vBjXAz4ulqFzKZtcCHA56Q== 0000903893-97-001004.txt : 19970725 0000903893-97-001004.hdr.sgml : 19970725 ACCESSION NUMBER: 0000903893-97-001004 CONFORMED SUBMISSION TYPE: 13F-E PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19970630 FILED AS OF DATE: 19970724 SROS: NONE FILER: COMPANY DATA: COMPANY CONFORMED NAME: GMO TRUST CENTRAL INDEX KEY: 0000772129 STANDARD INDUSTRIAL CLASSIFICATION: UNKNOWN SIC - 0000 [0000] STATE OF INCORPORATION: MA FISCAL YEAR END: 0228 FILING VALUES: FORM TYPE: 13F-E SEC ACT: 1934 Act SEC FILE NUMBER: 028-03377 FILM NUMBER: 97644569 BUSINESS ADDRESS: STREET 1: 40 ROWES WHARF CITY: BOSTON STATE: MA ZIP: 02110 BUSINESS PHONE: 6173307500 FORMER COMPANY: FORMER CONFORMED NAME: GMO CORE TRUST DATE OF NAME CHANGE: 19900927 13F-E 1 FORM 13F-E DOMESTIC ACTIVE & QUANTITATIVE PAGE 1 SECURITIES AND EXCHANGE COMMISSION FORM 13F-E Report for the Calendar Year or Quarter Ended: 06/30/97 Institutional Investment Manager: GRANTHAM, MAYO, VAN OTTERLOO & CO. 40 ROWES WHARF BOSTON MA 02110 I REPRESENT THAT I AM AUTHORIZED TO SUBMIT THIS FORM AND THAT ALL INFORMATION IN THIS FORM AND THE ATTACHMENTS TO IT IS TRUE, CORRECT AND COMPLETE AND I UNDERSTAND THAT ALL REQUIRED ITEMS, STATEMENTS AND SCHEDULES ARE INTEGRAL PARTS OF THIS FORM AND THAT THE SUBMISSION OF ANY AMENDMENT REPRESENTS THAT ALL UNAMENDED ITEMS, STATEMENTS AND SCHEDULES REMAIN TRUE, CORRECT AND COMPLETE AS PREVIOUSLY SUBMITTED. I AM SIGNING THIS REPORT AS REQUIRED BY THE SECURITIES AND EXCHANGE ACT OF 1934. Name, Title and Telephone Number of Person Submitting Report: FORREST BERKLEY PARTNER (617) 346-7578 Signature, Place and Date of Signing: /s/ FORREST BERKLEY BOSTON MA 11/28/95 Other Managers on Whose Behalf this Report is Filed: 01 STRATEGIC INVESTMENT MANAGEMENT 028-02437 02 STRATEGIC INVESTMENT MANAGEMENT INTERNATIONAL 028-02495 03 STRATEGIC INVESTMENT PARTNERS, INC. 028-02436 PAGE 2 VALUE SHARES/ SH/ PUT/ INVSTMT -----VOTING AUTHORITY----- NAME OF ISSUER -TITLE OF CLASS- --CUSIP-- (x$1000) PRN AMT PRN CALL DSCRETN -MANAGERS- SOLE SHARED NONE S & P 500 DEC 875 PUT OPTION BLANK 304 90 SH OTHER 65 25 0 AMLI RESIDENTIAL PROP COMMON 001735109 2363 100000 SH OTHER 70000 5000 25000 AMR CORP COMMON 001765106 10406 112500 SH OTHER 63200 21300 28000 AT & T CORP. COMMON 001957109 3945 112501 SH OTHER 50401 26800 35300 AETNA INC. COMMON 008117103 8702 85000 SH OTHER 48500 9000 27500 ALBEMARLE CORP COM COMMON 012653101 5002 237500 SH OTHER 100000 52700 84800 ALCAN ALUMINIUM LTD COMMON 013716105 2428 70000 SH OTHER 27500 22500 20000 ALLEGHENY TELEDYNE IN COMMON 017415100 23220 860017 SH OTHER 476004 141514 242500 ALLERGAN INC COMMON 018490102 4295 135000 SH OTHER 76200 25600 33200 ALLMERICA FINL CORP C COMMON 019754100 2532 63500 SH OTHER 43500 11700 8300 ALLSTATE COMMON 020002101 19528 267501 SH OTHER 138254 50819 78428 ALPHARMA INC CL A COMMON 020813101 303 19000 SH SOLE 0 0 19000 AMCOL INTL CORP COMMON 02341W103 9425 520000 SH OTHER 237000 127000 156000 AMERADA HESS CORP COMMON 023551104 15141 272500 SH OTHER 130100 73300 69100 AMERICA WEST HLDG COR COMMON 023657208 2226 153500 SH OTHER 37000 26500 90000 AMERICAN ELECTRIC POW COMMON 025537101 1573 37500 SH OTHER 0 37500 0 AMERICAN EXPRESS COMMON 025816109 40975 550000 SH OTHER 292600 104500 152900 AMERICAN GREETINGS CO COMMON 026375105 15685 422500 SH OTHER 210000 89000 123500 AMERICAN STORES COMMON 030096101 3580 72500 SH OTHER 28500 11500 32500 ANHEUSER BUSCH COS IN COMMON 035229103 27993 667500 SH OTHER 307400 174800 185300 ARCHER DANIELS MIDLAN COMMON 039483102 1058 45000 SH OTHER 15000 25000 5000 ARMCO INC COMMON 042170100 381 100000 SH OTHER 50000 25000 25000 ARMCO CONV. PFD. 7.25 CONVERT 042170407 2558 60000 SH OTHER 32800 6000 21200 ASARCO INC COMMON 043413103 1148 37500 SH OTHER 22500 10000 5000 ASHLAND INC. COMMON 044204105 4477 96546 SH OTHER 80000 1546 15000 ATLANTIC RICHFIELD PF CONVERT 048825137 806 37500 SH SOLE 37500 0 0 AVNET COMMON 053807103 21850 380000 SH OTHER 213600 68700 97700 BAT INDUST SPONSORED COMMON 055270508 469 25600 SH OTHER 23000 2600 0 BANKBOSTON CORP. COMMON 06605R106 1448 20000 SH SOLE 10000 0 10000 BANKAMERICA CORP COMMON 066050105 807 12500 SH OTHER 6500 1000 5000 BATTLE MTN GOLD CONV CONVERT 071593305 239 5000 SH SOLE 5000 0 0 BAXTER INTL INC COMMON 071813109 21840 417500 SH OTHER 223500 76700 117300 BAY NETWORK COMMON 072510100 4418 167500 SH OTHER 70000 46000 51500 BAYER AG SPONS ADR FOREIGN 072730302 1538 40000 SH OTHER 20000 5000 15000 BELL ATLANTIC CORP COMMON 077853109 1396 18400 SH OTHER 12900 500 5000 BETHLEHEM STL CORP COMMON 087509105 209 20000 SH SOLE 20000 0 0 BEVERLY ENTERPRISES COMMON 087851101 10888 670000 SH OTHER 362000 139000 169000 BLACK & DECKER CORP COMMON 091797100 12737 342500 SH OTHER 189100 57900 95500 BLOCK H & R INC COMMON 093671105 54825 1700000 SH OTHER 860100 374200 465700 BOEING CO COMMON 097023105 1117 21042 SH OTHER 18042 0 3000 BOISE CASCADE PFD G CONVERT 097383863 1496 52500 SH SOLE 52500 0 0 BOLIDEN LTD COMMON 097935209 1450 272200 SH OTHER 71500 50700 150000 BORDEN CHEM & PLASTIC COMMON 099541203 1106 100000 SH OTHER 80000 0 20000 BOSTON PROPERTIES COMMON 101121101 8788 322500 SH OTHER 120000 146500 56000 FIRST CENTRAL FINANCI CONVERT 109228006 220 220000 SH SOLE 0 0 220000 BRISTOL MYERS SQUIBB COMMON 110122108 567 7000 SH SOLE 7000 0 0 BROWNING FERRIS INDS COMMON 115885105 914 27500 SH SOLE 0 0 27500 BURLINGTON INDS INC N COMMON 121693105 1780 148300 SH OTHER 85800 37500 25000 CIGNA CORP COMMON 125509109 6923 39000 SH OTHER 22000 6000 11000 CMS ENERGY CORP COMMON 125896100 2238 63500 SH OTHER 38500 15000 10000 PAGE 3 VALUE SHARES/ SH/ PUT/ INVSTMT -----VOTING AUTHORITY----- NAME OF ISSUER -TITLE OF CLASS- --CUSIP-- (x$1000) PRN AMT PRN CALL DSCRETN -MANAGERS- SOLE SHARED NONE CABOT OIL & GAS CORP COMMON 127097103 2379 135000 SH OTHER 54500 25000 55500 CALPINE CP COMMON 131347106 3658 192500 SH OTHER 77500 90000 25000 CANADIAN PAC LTD NEW COMMON 135923100 24527 862500 SH OTHER 449900 175300 237300 CANYON RES CORP COM COMMON 138869102 804 321477 SH OTHER 0 321477 0 CENTERIOR ENERGY CORP COMMON 151883105 1119 100000 SH OTHER 0 50000 50000 CHAMPION INTL CORP COMMON 158525105 4282 77500 SH OTHER 34300 15500 27700 CHARTWELL RE CORP COM COMMON 16139W109 9000 300000 SH OTHER 137000 106300 56700 CHASE MANHATTAN CORPO COMMON 16161A108 56154 578532 SH OTHER 311724 121204 145604 CHRYSLER CORP COMMON 171196108 1808 55000 SH OTHER 30000 22500 2500 CINCINNATI MILACRON I COMMON 172172108 15692 605000 SH OTHER 300000 145000 160000 CINERGY CORP COMMON 172474108 957 27500 SH OTHER 22500 5000 0 CITICORP COMMON 173034109 67212 557483 SH OTHER 316749 91834 148900 CLAYTON HOMES INC COM COMMON 184190106 5714 397500 SH OTHER 182500 125000 90000 COCA COLA COMMON 191216100 3074 45200 SH OTHER 0 45200 0 COFLEXIP SPONSORED AD COMMON 192384105 3389 112500 SH OTHER 47500 35000 30000 COLTEC INDS INC COM COMMON 196879100 3071 157500 SH OTHER 60000 47500 50000 COMPUSERVE CORP DEL C COMMON 20482G109 108 10000 SH OTHER 0 10000 0 COMSAT CORP COMMON 20564D107 417 17500 SH OTHER 0 10000 7500 CONE MLS CORP N C COM COMMON 206814105 1600 200000 SH OTHER 80000 75000 45000 COORS ADOLPH COMPANY COMMON 217016104 6523 245000 SH OTHER 117500 58500 69000 CORDIANT PLC SPONSORE COMMON 218514107 2460 397500 SH OTHER 242500 50000 105000 CORNING INC COMMON 219350105 24892 447500 SH OTHER 239200 90600 117700 COSTCO COMPANIES INC COMMON 22160Q102 19561 595000 SH OTHER 304500 123000 167500 COTT CORP QUE COM COMMON 22163N106 1169 110000 SH OTHER 50000 25000 35000 COX COMMUNICATIONS IN COMMON 224044107 12569 523700 SH OTHER 229300 137200 157200 CROWN AMERICAN RLTY T COMMON 228186102 3839 415000 SH OTHER 184000 87500 143500 CUMMINS ENGINE INC COMMON 231021106 2823 40000 SH OTHER 10000 15000 15000 CYPRUS AMAX MINERALS COMMON 232809103 1164 47500 SH OTHER 25000 12500 10000 DPL INC COMMON 233293109 1847 75000 SH SOLE 50,00 0 25,00 DARDEN RESTAURANTS, I COMMON 237194105 3942 435000 SH OTHER 167500 107100 160400 DATA GEN CORP COMMON 237688106 6955 267500 SH OTHER 142500 45000 80000 DELTA AIRLINES INC COMMON 247361108 5990 72500 SH OTHER 40500 8500 23500 DIGITAL EQUIPMENT COMMON 253849103 43588 1230000 SH OTHER 632500 279000 318500 DISNEY WALT PRODTNS COMMON 254687106 341 4250 SH SOLE 4250 0 0 DOW CHEMICAL COMMON 260543103 4344 50000 SH OTHER 23300 14200 12500 DRESSER INDS INC COMMON 261597108 2701 72500 SH OTHER 41700 10400 20400 DU PONT E I DE NEMOUR COMMON 263534109 7073 112500 SH OTHER 74300 21200 17000 DUKE PWR CO COMMON 264399106 40178 838131 SH SOLE 466533 134310 237288 DUN & BRADSTREET INC COMMON 264830100 274 10450 SH OTHER 3650 6800 0 EASTERN UTILS ASSOC COMMON 277173100 1066 58400 SH OTHER 14900 43500 0 EASTMAN KODAK COMMON 277461109 57754 752500 SH OTHER 417000 123600 211900 ECHO BAY MINES COM COMMON 278751102 633 110000 SH SOLE 60000 0 50000 ELF AQUITAINE SPONSOR COMMON 286269105 1089 20000 SH OTHER 11000 1000 8000 ENERGY GROUP PLC SPON COMMON 292691102 11891 280624 SH OTHER 147812 62812 70000 ENGELHARD CORP COMMON 292845104 1047 50000 SH OTHER 20000 18500 11500 ENSERCH EXPL INC COMMON 29356V100 520 47500 SH OTHER 5000 30000 12500 ENRON OIL & GAS CO CO COMMON 293562104 10603 585000 SH OTHER 278300 149700 157000 ENSERCH CORP COMMON 293567103 8177 367500 SH OTHER 184900 106300 76300 ENTERGY CORP NEW COM COMMON 29364G103 4606 167500 SH OTHER 90000 25000 52500 EVANS WITHYCOMBE RESI COMMON 299212100 5188 250000 SH OTHER 106200 76300 67500 PAGE 4 VALUE SHARES/ SH/ PUT/ INVSTMT -----VOTING AUTHORITY----- NAME OF ISSUER -TITLE OF CLASS- --CUSIP-- (x$1000) PRN AMT PRN CALL DSCRETN -MANAGERS- SOLE SHARED NONE FMC CORP NEW COMMON 302491303 14180 178500 SH OTHER 90300 35400 52800 FEDERATED DEPARTMENT COMMON 31410H101 14769 425000 SH OTHER 221650 83050 120300 FIRST CHICAGO NBD COR COMMON 31945A100 14066 232500 SH OTHER 124700 39000 68800 FLEETWOOD ENTERPRISES COMMON 339099103 298 10000 SH OTHER 0 10000 0 FORD MOTOR COMMON 345370100 2090 55000 SH OTHER 14500 34000 6500 FORD MOTOR CO DEPOSIT CONVERT 345370209 1143 9000 SH OTHER 4000 0 5000 FOREST OIL CORP COM N COMMON 346091606 220 15000 SH OTHER 15000 0 0 FREEPORT MCMORAN COPP CONVERT 35671D600 8914 288700 SH OTHER 157200 59200 72300 FUJI PHOTO ADR NEW COMMON 359586302 202 5000 SH OTHER 0 5000 0 GMO TR FOREIGN FD III MUTUAL 362007551 394 32774 SH SOLE 32774 0 0 GTE CORP COMMON 362320103 57586 1312500 SH OTHER 662000 306800 343700 ARTHUR J GALLAGHER & COMMON 363576109 1888 50000 SH OTHER 30000 10000 10000 GALLAHER GROUP PLC SP COMMON 363595109 230 12500 SH SOLE 7500 0 5000 GENERAL ELECTRIC COMMON 369604103 30518 469500 SH OTHER 270700 66000 132800 GENERAL MTRS CORP COMMON 370442105 13034 233800 SH OTHER 131200 36700 65900 GEORGIA GULF CORP COM COMMON 373200203 2900 99800 SH OTHER 52300 17500 30000 GIDDINGS & LEWIS INC COMMON 375048105 5114 245000 SH OTHER 120000 60000 65000 GLAXO PLC SPONSORED A COMMON 37733W105 4495 107500 SH OTHER 61100 23900 22500 GREAT WESTN FINL CORP COMMON 391442100 269 5000 SH OTHER 0 5000 0 GRIFFON CORP COM COMMON 398433102 5219 381300 SH OTHER 233500 36500 111300 HAEMONETICS CORP COM COMMON 405024100 2295 120000 SH OTHER 56000 33000 31000 HALLIBURTON CO COMMON 406216101 396 5000 SH SOLE 0 0 5000 HANSON PLC COMMON 411352404 4375 175000 SH OTHER 100000 40000 35000 HECLA MNG CO COMMON 422704106 177 32500 SH OTHER 12500 20000 0 HERCULES INC COMMON 427056106 890 18600 SH OTHER 2700 10900 5000 HOUSTON INDUSTRIES IN COMMON 442161105 643 30000 SH OTHER 0 22500 7500 HUNT J B TRANS SVCS I COMMON 445658107 2120 142500 SH OTHER 70000 35000 37500 IMC GLOBAL INC COMMON 449669100 1138 32500 SH SOLE 17500 0 15000 IDEXX LABORATORIES CO COMMON 45168D104 311 25000 SH OTHER 0 25000 0 ILLANOVA CORP COM COMMON 452317100 6600 300000 SH OTHER 81000 179000 40000 IMMULOGIC PHARMACEUTI COMMON 45252R100 165 52800 SH OTHER 15000 2800 35000 IMPERIAL OIL LTD COM COMMON 453038408 1156 22500 SH OTHER 12500 5000 5000 IMPERIAL TOBACCO GROU COMMON 453142101 9176 713500 SH OTHER 355925 148575 209000 INFORMATION RES INC COMMON 456905108 6568 465000 SH OTHER 182000 129500 153500 INTEL CORP COMMON 458140100 20208 142500 SH OTHER 88100 27500 26900 INTERGRAPH CORP COMMON 458683109 10391 1222500 SH OTHER 608400 277100 337000 INTERLINK CMPTR SCIEN COMMON 458747102 114 15000 SH OTHER 0 15000 0 INTERMET CORP COMMON 45881K104 6786 422500 SH OTHER 182500 155000 85000 INTERNATIONAL BUSINES COMMON 459200101 55414 614000 SH OTHER 342200 94600 177200 INTERNATIONAL PAPER C COMMON 460146103 1724 35500 SH OTHER 30100 400 5000 INTL RECTIFIER CORP COMMON 460254105 12991 697500 SH OTHER 349800 159700 188000 INTERNATIONAL TECH 1. CONVERT 460465305 684 37500 SH SOLE 37,00 0 0 INTL TECHNOLOGY CORP COMMON 460465404 419 55001 SH OTHER 45001 0 10000 IVAX CORP COMMON 465823102 280 25000 SH SOLE 0 0 25000 JP RLTY INC COM COMMON 46624A106 28831 1062900 SH OTHER 562800 227500 272600 JAMES RIVER CORP COMMON 470349101 9435 255000 SH SOLE 131900 45100 78000 JR CORP SERIES P 9% CONVERT 470349887 17595 510000 SH OTHER 282000 96500 131500 JOHNSON & JOHNSON COMMON 478160104 10300 160000 SH OTHER 77300 42200 40500 JOSTENS INC COMMON 481088102 401 15000 SH OTHER 0 10000 5000 KERR-MCGEE CORP COMMON 492386107 317 5000 SH OTHER 5000 0 0 PAGE 5 VALUE SHARES/ SH/ PUT/ INVSTMT -----VOTING AUTHORITY----- NAME OF ISSUER -TITLE OF CLASS- --CUSIP-- (x$1000) PRN AMT PRN CALL DSCRETN -MANAGERS- SOLE SHARED NONE LASMO ADR FOREIGN 501730204 7909 596900 SH OTHER 349400 92500 155000 LTV CORP NEW COM COMMON 501921100 428 30000 SH OTHER 15000 0 15000 LABORATORY CORP AMER COMMON 50540R102 605 225000 SH SOLE 120000 60000 45000 LAFARGE CORP COMMON 505862102 1776 72500 SH OTHER 32500 25000 15000 LIBERTY CORP S C COMMON 530370105 1324 32500 SH OTHER 5000 7500 20000 LILLY ELI & CO COMMON 532457108 23229 212500 SH OTHER 128100 35500 48900 LIMITED STORES INC COMMON 532716107 203 10000 SH OTHER 0 10000 0 LOEHMANNS INC NEW COM COMMON 540417102 585 90000 SH OTHER 25000 50000 15000 LOEWS CORP COMMON 540424108 250 2500 SH OTHER 2500 0 0 LUBRIZOL CORP COMMON 549271104 1803 43000 SH OTHER 22500 10500 10000 MCI COMMUNICATIONS CO COMMON 552673105 19141 500000 SH SOLE 255000 115000 130000 MANPOWER INC COM COMMON 56418H100 3004 67500 SH OTHER 35000 5000 27500 MASCOTECH INC COM COMMON 574670105 26357 1262600 SH SOLE 669523 259076 334000 MAYTAG CO COMMON 578592107 17358 655000 SH SOLE 296000 183500 175500 MCDERMOTT INTERNATION COMMON 580037109 2175 75000 SH OTHER 22500 22500 30000 MEDPARTNERS INC NEW C COMMON 58503X107 7353 340000 SH OTHER 136500 111000 92500 MELLON BANK COMMON 585509102 830 18400 SH OTHER 3400 15000 0 MERCK & CO COMMON 589331107 276 2700 SH OTHER 0 200 2500 METHODE ELECTRONICS I COMMON 591520200 298 15000 SH OTHER 10000 5000 0 MILLENNIUM CHEMICALS COMMON 599903101 2463 108247 SH OTHER 39997 31108 37142 MITCHELL ENERGY & DEV COMMON 606592202 4202 207500 SH OTHER 94200 98000 15300 MITCHELL ENERGY & DEV COMMON 606592301 14482 677500 SH OTHER 333300 179000 165200 MOBIL CORP COMMON 607059102 8560 122500 SH OTHER 67800 16400 38300 NATL SEMICONDUCTOR COMMON 637640103 306 10000 SH OTHER 5000 5000 0 NATIONSBANK CORP COM COMMON 638585109 2905 45000 SH OTHER 35000 0 10000 NATIONWIDE FINANCIAL COMMON 638612101 2006 75000 SH OTHER 55000 20000 0 NAVISTAR INTL CORP PF CONVERT 638901405 18484 302400 SH OTHER 173550 50000 78850 NAVISTAR INTL CORP CO COMMON 63934E108 4054 235000 SH OTHER 107500 40000 87500 NESTLES ADR FOREIGN 641069406 35337 535000 SH OTHER 297800 110200 127000 NEW YORK TIMES CO CLA COMMON 650111107 272 5500 SH OTHER 5500 0 0 NEWMONT GOLD CO COM COMMON 651637100 300 7500 SH SOLE 0 0 7500 NEWS COPR LTD COMMON 652487703 8903 462500 SH OTHER 209500 121000 132000 NIAGARA MOHAWK PWR CO COMMON 653522102 12202 1425000 SH OTHER 716100 307200 401700 NOBLE AFFILIATES COMMON 654894104 344 8900 SH OTHER 8300 600 0 NORAM ENERGY CORP 6.0 CONVERT 655419AC3 2200 2500000 SH OTHER 2450000 0 50000 NORAM ENERGY CORP COM COMMON 655419109 14297 937500 SH SOLE 509800 151200 276500 NORTHEAST UTILS COMMON 664397106 238 25000 SH OTHER 25000 0 0 NORTH WESTERN STEEL A COMMON 668367204 309 112500 SH OTHER 50000 50000 12500 NOVELL INC COMMON 670006105 69 10000 SH SOLE 10000 0 0 NYNEX CORP COMMON 670768100 691 12000 SH SOLE 2000 0 10000 OCCIDENTAL PETE CORP COMMON 674599105 11215 447500 SH SOLE 203900 123600 120000 OFFICE DEPOT INC COM COMMON 676220106 194 10000 SH SOLE 0 0 10000 OGDEN CORP COMMON 676346109 10875 500000 SH OTHER 253000 134500 112500 OHIO EDISON CO COMMON 677347106 3915 180000 SH OTHER 74200 47900 57900 OVERSEAS SHIPHOLDING COMMON 690368105 2698 137500 SH SOLE 67500 27500 42500 OWENS CORNING COMMON 69073F103 50991 1182400 SH SOLE 597900 261200 323300 OWENS & MINOR INC NEW COMMON 690732102 8215 550000 SH OTHER 243000 153500 153500 PG&E CORP COM COMMON 69331C108 4851 200000 SH OTHER 87500 62500 50000 PNC FINANCIAL CORP COMMON 693475105 3444 82500 SH OTHER 29000 10000 43500 PACIFICORP COMMON 695114108 3135 142500 SH SOLE 89500 15500 37500 PAGE 6 VALUE SHARES/ SH/ PUT/ INVSTMT -----VOTING AUTHORITY----- NAME OF ISSUER -TITLE OF CLASS- --CUSIP-- (x$1000) PRN AMT PRN CALL DSCRETN -MANAGERS- SOLE SHARED NONE PEGASUS GOLD INC COMMON 70556K106 965 157500 SH SOLE 30000 107500 20000 PERRIGO CO COM COMMON 714290103 938 75000 SH OTHER 35000 40000 0 PFIZER INC COMMON 717081103 299 5000 SH SOLE 0 5000 0 PICTURETEL CORP COM N COMMON 720035302 285 30000 SH OTHER 0 25000 5000 PINKERTONS INC NEW CO COMMON 723429106 4305 140000 SH OTHER 71400 25000 43600 PITTSTON CO MINERLS G COMMON 725701205 2279 195000 SH OTHER 122500 30000 42500 PLACER DOME INC COMMON 725906101 2740 167300 SH OTHER 87900 43900 35500 PUBLIC SVC ENTERPRISE COMMON 744573106 2128 85100 SH OTHER 45000 12000 28100 QUAKER ST CORP COMMON 747410108 2288 150000 SH OTHER 87500 42500 20000 QUEST DIAGNOSTICS INC COMMON 74834L100 1406 68372 SH OTHER 37502 15484 15386 QUESTAR CORP COMMON 748356102 303 7500 SH OTHER 5000 2500 0 QWEST COMM INTL INC S COMMON 749121109 204 7500 SH OTHER 7500 0 0 RJR NABISCO HLDGS COR COMMON 74960K876 15428 467500 SH OTHER 266000 87200 114300 RALCORP HLDGS INC NEW COMMON 751028101 148 10000 SH OTHER 0 5000 5000 RELIANCE GROUP HLDGS COMMON 759464100 24166 2035000 SH OTHER 1068000 413500 553500 REYNOLDS METALS CO COMMON 761763101 3384 47500 SH OTHER 19000 11000 17500 RIVIANA FOODS INC DEL COMMON 769536103 850 42500 SH OTHER 35000 7500 0 ROCHE 0% 4/20/10 CONVERT 771196AC6 4282 8500000 SH OTHER 5750000 1750000 1000000 ROCKWELL INTL CORP NE COMMON 773903109 25329 427500 SH OTHER 230000 80100 117400 RYDER SYS INC COMMON 783549108 5363 162500 SH OTHER 93400 22400 46700 SBC COMMUNICATIONS, I COMMON 78387G103 8313 134356 SH OTHER 60990 40066 33300 SABRE GROUP HLDGS INC COMMON 785905100 3391 125000 SH SOLE 52500 37500 35000 SAFETY KLEEN CORP COMMON 786484105 26325 1560000 SH OTHER 777900 344600 437500 SANTA FE ENERGY RES I COMMON 802012104 5943 404659 SH OTHER 184659 145000 75000 SARA LEE CORP COMMON 803111103 3538 85000 SH OTHER 27500 25000 32500 SCOTTS CO CL A COMMON 810186106 1813 62500 SH OTHER 30000 22500 10000 SEAGATE TECHNOLOGY COMMON 811804103 353 10000 SH OTHER 0 0 10000 SEDGWICK GROUP ADR FOREIGN 815673207 4988 475000 SH OTHER 277500 84000 113500 SILICON GRAPHICS INC COMMON 827056102 1688 112500 SH OTHER 52500 35000 25000 SIMON DEBARTOLO GROUP COMMON 828781104 1280 40000 SH OTHER 35000 0 5000 SMITHKLINE BEECHAM PL COMMON 832378301 9483 103500 SH OTHER 43500 30000 30000 SOUTHERN CO COMMON 842587107 766 35000 SH OTHER 34500 0 500 SOUTHWEST AIRLS CO COMMON 844741108 489 18900 SH OTHER 17200 1700 0 SPRINT EXCHANGE CONV. CONVERT 852061407 1987 55000 SH OTHER 45000 0 10000 STONE CONTAINER CORP COMMON 861589109 1360 95000 SH OTHER 45000 16000 34000 STORAGE TECHNOLOGY CO COMMON 862111200 69605 1542500 SH OTHER 775500 349200 417800 SUMMIT PPTYS INC COM COMMON 866239106 21553 1045000 SH OTHER 517100 278200 249700 SUN INC DP 1/2 PREF A PREFERR 866762404 375 12500 SH OTHER 12500 0 0 SUNDSTRAND CORP COMMON 867323107 3780 70000 SH OTHER 15000 35000 20000 SUPERVALU INC COMMON COMMON 868536103 6728 195000 SH OTHER 60000 73200 61800 TIG HOLDINGS COMMON 872469101 47344 1515000 SH OTHER 764500 354000 396500 TANDEM COMPUTERS INC COMMON 875370108 83481 4122500 SH SOLE 2086000 921500 1115000 TELE COMMUNICATIONS I COMMON 87924V101 13313 895000 SH OTHER 450300 197000 247700 TELE COMMUNICATIONS I COMMON 87924V507 238 10000 SH OTHER 5000 5000 0 TENNECO INC COMMON 88037E101 7117 157500 SH SOLE 91100 28600 37800 TERADYNE INC COMMON 880770102 237 6000 SH OTHER 5000 1000 0 TEXACO INC COMMON 881694103 2991 27500 SH SOLE 12500 7500 7500 TEXAS UTILS CO COMMON 882848104 46577 1352500 SH OTHER 671500 317000 364000 TIME WARNER FING TR P COMMON 88731L203 630 15000 SH SOLE 10000 0 5000 TOTAL S A SPONSORED A COMMON 89151E109 3038 60000 SH OTHER 22500 22500 15000 PAGE 7 VALUE SHARES/ SH/ PUT/ INVSTMT -----VOTING AUTHORITY----- NAME OF ISSUER -TITLE OF CLASS- --CUSIP-- (x$1000) PRN AMT PRN CALL DSCRETN -MANAGERS- SOLE SHARED NONE TOYS R US COMMON 892335100 3850 110000 SH OTHER 37500 45000 27500 TRANSAMERICA CORP COMMON 893485102 8655 92500 SH OTHER 48400 14100 30000 TRANSCANADA PIPELINES COMMON 893526103 7748 385000 SH SOLE 224000 66000 95000 TRAVELERS INC COMMON 894190107 33730 534864 SH OTHER 291933 98399 144532 USX MARATHON GROUP CO COMMON 902905827 40569 1405000 SH OTHER 732800 288000 384200 US F&G CORP COMMON 903290104 10500 437500 SH OTHER 236900 92600 108000 USG CORP COMMON 903293405 2190 60000 SH OTHER 60000 0 0 USX US STEEL GROUP CO COMMON 90337T101 4463 127500 SH OTHER 67500 10000 50000 UNILEVER N V COMMON 904784501 1199 5500 SH OTHER 2500 3000 0 UNICOM CORP COM COMMON 904911104 30816 1385000 SH OTHER 663200 335000 386800 UNION CARBIDE CORP COMMON 905581104 212 4500 SH OTHER 4000 500 0 UNION TEX PETE HLDGS COMMON 908640105 12144 580000 SH OTHER 278000 150500 151500 US AIRWAYS GROUP INC COMMON 911905107 263 7500 SH OTHER 7500 0 0 US AIRWAYS CONV PFD 8 CONVERT 911905305 8556 97500 SH OTHER 65000 7700 24800 U S WEST INC COMMON 912889102 23460 622500 SH SOLE 291900 181700 148900 U S WEST INC COM-MEDI COMMON 912889201 44855 2215074 SH OTHER 1044200 534800 636074 U S WEST INC PFD CNV CONVERT 912889409 238 4743 SH SOLE 0 0 4743 UNITED TECHNOLOGIES C COMMON 913017109 30088 362500 SH OTHER 236000 67000 59500 UNOCAL CORP 6.25% TRU CONVERT 91528T207 10338 182967 SH OTHER 106543 41806 34618 UNOCAL CORP COMMON 915289102 21450 550000 SH OTHER 287000 112900 150100 VLSI TECH 8.250% 10/0 CONVERT 918270AB5 10986 110000 SH OTHER 49500 28500 32000 WAL MART STORES INC COMMON 931142103 39223 1160000 SH OTHER 590200 258500 311300 WALDEN RESIDENTIAL PP COMMON 931210108 13374 521900 SH OTHER 290400 89800 141700 WASHINGTON NATL CORP COMMON 939339107 5483 192400 SH OTHER 111400 26000 55000 WASTE MGMT INTL PLC S COMMON 940906100 11383 1247500 SH OTHER 525000 359000 363500 WASTE MANAGEMENT INC COMMON 94106K101 77421 2410000 SH OTHER 1201000 560000 649000 WELLMAN INC COMMON 949702104 4344 250000 SH OTHER 113500 51500 85000 WELLS FARGO & CO COMMON 949740104 14962 55516 SH OTHER 33116 8900 13500 WESTCOAST ENERGY COMMON 95751D102 10960 602600 SH OTHER 312500 137000 153100 WESTINGHOUSE ELEC COR COMMON 960402105 42147 1822566 SH OTHER 995073 335400 492092 WEYERHAEUSER CO COMMON 962166104 10998 211500 SH OTHER 111300 39000 61200 WHEELABRATOR TECH INC COMMON 962901302 13045 845000 SH OTHER 401500 235500 208000 WILLIS CORROON PLC AD COMMON 970624201 8324 744000 SH OTHER 429100 152800 162100 WISCONSIN ENERGY CORP COMMON 976657106 560 22500 SH OTHER 0 22500 0 WORTHINGTON ROUGE DEC CONVERT 981811201 2475 150000 SH OTHER 40000 72500 37500 XEROX CORP COMMON 984121103 14198 180000 SH OTHER 104500 26500 49000 XYLAN CORP COM COMMON 984151100 510 30000 SH OTHER 0 0 30000 YPF SOCIEDAD ANONIMA FOREIGN 984245100 3152 102500 SH OTHER 62500 30000 10000 REPORT SUMMARY 288 DATA RECORDS 2660262 3 OTHER MANAGERS ON WHOSE BEHALF REPORT IS FILED
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