WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER>
<NAME> TAX-MANAGED PORTFOLIO
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-2000
<PERIOD-END> JUN-30-2000
<INVESTMENTS-AT-COST> 12,039,800
<INVESTMENTS-AT-VALUE> 16,968,561
<RECEIVABLES> 125,257
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 191
<TOTAL-ASSETS> 17,098,418
<PAYABLE-FOR-SECURITIES> 122,642
<SENIOR-LONG-TERM-DEBT> 122,642
<OTHER-ITEMS-LIABILITIES> 0
<TOTAL-LIABILITIES> 0
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 0
<SHARES-COMMON-STOCK> 0
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 16,975,776
<DIVIDEND-INCOME> 70,187
<INTEREST-INCOME> 14,995
<OTHER-INCOME> 0
<EXPENSES-NET> 35,613
<NET-INVESTMENT-INCOME> 49,569
<REALIZED-GAINS-CURRENT> 345,518
<APPREC-INCREASE-CURRENT> 429,188
<NET-CHANGE-FROM-OPS> 824,274
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 0
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 1,861,127
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 34,564
<INTEREST-EXPENSE> 35,613
<GROSS-EXPENSE> 15,824,841
<AVERAGE-NET-ASSETS> 0
<PER-SHARE-NAV-BEGIN> 0.63
<PER-SHARE-NII> 0
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 0
<EXPENSE-RATIO> 0.45
</TABLE>