13F-HR 1 pal95750.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: DECEMBER 31, 2002 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: FLETCHER ASSET MANAGEMENT, INC. Address: 22 EAST 67TH STREET NEW YORK, NEW YORK 10021 Form 13F File Number: 28-3480 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: DENIS KIELY Title: DEPUTY CHIEF EXECUTIVE OFFICER AND COUNSEL Phone: (212) 284-4800 Signature, Place, and Date of Signing: /s/ DENIS KIELY ---------------------------- ------------------------ --------------------- DENIS KIELY NEW YORK, NEW YORK FEBRUARY 13, 2003 DEPUTY CHIEF EXECUTIVE OFFICER AND COUNSEL Report Type (Check only one.): [ X ] 13F HOLDINGS REPORT. (Check here if all holdings of this reporting manager are reported in this report.) [ ] 13F NOTICE. (Check here if no holdings reported are in this report, and all holdings are reported by other reporting manager(s).) [ ] 13F COMBINATION REPORT. (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).) FORM 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 1 Form 13F Information Table Entry Total: 30 Form 13F Information Table Value Total: $129,033 (thousands) List of Other Included Managers: Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report. No. Form 13F File Number Name 1 28-10204 FLETCHER INTERNATIONAL, LTD. FORM 13F REPORT

~~FORM 13F REPORT~~ Item 8. Voting Authority Item 2 Item 3 Item 4 Item 5 Item 6 Item 7 Shares ------~~----~~ --------- ------~~---~~ ------~~----~~ ----------------------- ------ ---------~~------------------~~ Fair Market Shares or ~~Name of Issuer Title of CUSIP Market Principal~~ (B) (C) (B) ~~Class~~Title ~~Number~~of CUSIP Value ~~Amount~~Principal (A) Shared Shared (A) Shared C Name of Issuer Class Number (x$1,000) ~~Defined~~Amount Sole Defined Other Sole Defined None ---------- --------- --------- ---------- ------ ------- ------ ------ -------- -------- -------------------------------------------------- Alloy Inc Common 019855105 1118,~~083~~109 1,~~333~~653,~~666~~769 X 1 X Stock American Express Co Common 025816109 ~~471~~534 15,100 X 1 X Stock ~~Amgen Inc Common 031162100 735 17,623 X 1 X Stock Applied Mtls Inc Common 038222105 321 27,758 X 1 X Stock~~ Aspen Technology Inc Common 045327103 ~~285~~269 95,000 X 1 X Stock Automatic Data Processing Common 053015103 ~~651~~734 18,710 X 1 X InInc Stock Bank of America ~~Common 060505104 344 5,389 X 1 X~~ Corporation ~~Stock Bed Bath & Beyond Inc~~ Common ~~075896100~~060505104 ~~471 14~~2,~~454~~998 ~~X 1 X Stock ChevronTexaco Corp Common 166764100 328 4~~43,~~740~~100 X 1 X Stock ~~Cisco~~Champion ~~Syc~~Enterprises Inc Common ~~17275R102~~158496107 ~~828~~435 79152,~~019~~569 X 1 X Stock Clayton Homes Inc Common 184190106 1,~~251~~388 113,965 X 1 X Stock ~~Coca Cola Co Common 191216100 801 16,705 X 1 X Stock~~ Com21 Inc Common 205937105 2440 182,000 X 1 X Stock ~~Concord~~Cooper ~~EFS~~Cameron ~~Inc~~Corp Common ~~206197105~~216640102 ~~283~~2,541 1751,~~834~~000 X 1 X Stock Dell Computer Corp Common 247025109 ~~755~~858 32,093 X 1 X Stock Diamonds TR Unit Ser 1 252787106 14,~~774~~564 ~~194~~174,400 X 1 X Dow Chem Co Common 260543103 ~~779~~502 2816,~~524~~900 X 1 X Stock Ebay Inc Common 278642103 ~~318 6~~3,~~025~~004 ~~X 1 X Stock EMC Corp Mass Common 268648102 427 93~~44,~~328~~300 X 1 X Stock Federal Natl Mtg Assn Common 313586109 ~~714~~470 117,~~984~~300 X 1 X Stock ~~International Business Common 459200101 1,011 17,315 X 1 X Machs Stock Intel Corp Common 458140100 1,217 87,617 X 1 X Stock~~ Intuit Common 461202103 ~~362~~373 7,954 X 1 X Stock Johnson & Johnson Common 478160104 ~~887~~881 16,404 X 1 X Stock ~~Linear Technology Corp Common 535678106 284 13,727 X 1 X Stock~~ Lone Star Technologies Inc Common 542312103 ~~292~~366 24,600 X 1 X Stock ~~Maxim Integrated Prods Inc Common 57772K101 360 14,553 X 1 X Stock~~ Medtronic Inc Common 585055106 ~~745~~807 17,687 X 1 X Stock Metro Goldwyn Mayer Inc Common 591610100 ~~3,792~~857 ~~317~~65,~~300~~900 X 1 X Stock ~~Microsoft~~Public ~~Corp~~Svc ~~Common~~Enterprises ~~594918104 3,114 71,271 X 1 X Stock MIDCAP SPDR TR Unit Ser 1 595635103 800 10,780 X 1 X Motorola Inc~~ Common ~~620076109~~744573106 ~~587~~257 57,691 X 1 X Stock 3M Co Common 88579Y101 1,858 16,898 X 1 X Stock Nasdaq 100 TR Unit Ser 1 631100104 1,649 79,600 X 1 X Newpark Res Inc Common 651718504 1,141 288,168 X 1 X Stock Oracle Corp Common 68389X105 517 65,759 X 1 X Stock Pepsico Inc Common 713448108 304 8,~~214~~000 X 1 X ~~Stock~~Group ~~Pfizer Inc Common 717081103 326 11,241 X 1 X~~ Stock ~~Phillip~~Qualcomm ~~Morris Cos~~ Inc Common ~~718154107~~747525103 ~~653 16,820 X~~ 1 ~~X Stock Procter & Gamble Co Common 742718109 1~~,~~482~~066 ~~16,582 X 1 X Stock Qualcomm Inc Common 747525103 809~~ 29,287 X 1 X Stock ~~Schlumberger Ltd Common 806857108 18,045 469,201 X 1 X Stock~~ SPDR TR Unit Ser 1 78462F103 6170,~~972~~924 ~~757~~803,~~696~~854 X 1 X SPDR TR Unit Ser 1 78462F103 6874 835 X X ~~Target~~Teco ~~Corp~~Energy Inc Common ~~87612E106~~872375100 ~~302~~1,006 1065,~~215~~000 X 1 X Stock ~~Texas~~TRC ~~Instrs~~Cos Inc Common ~~882508104~~872625108 ~~443~~154 2911,~~988~~748 X 1 X Stock ~~TRC~~TXU ~~Cos~~Corp ~~Inc~~ Common ~~872625108~~873168108 ~~171~~1,121 960,~~972~~000 X 1 X Stock ~~United~~UnitedHealth ~~Technologies~~Group ~~Corp~~Inc. Common ~~913017109~~91324P102 ~~933~~3,014 1636,~~525~~100 X 1 X Stock Verizon Communications Common 92343V104 ~~310~~437 11,285 X 1 X Stock Viacom Inc CL B 925524308 ~~376~~378 9,268 X 1 X Wal Mart Stores Inc Common 931142103 ~~850~~872 17,264 X 1 X Stock ~~----------------------------------------------------------------------------------------------------------------------------------~~

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