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Previous: BENEDEK COMMUNICATIONS CORP, S-4, 1996-08-02 |
Next: NUVEEN FLAGSHIP MULTISTATE TRUST I, N-8A, 1996-08-02 |
Assets held in escrow as of July 10, 1996, for the benefit of and
thereafter accepted by
Somerset Exchange Fund
The valuations shown are as of the close of business on the day
prior to the Fund's closing. Offering or other expenses are not
deducted; discounts applied to restricted securities subsequent to
the closing are not reflected.
<TABLE>
SCHEDULE OF INVESTMENTS (Unaudited)
<CAPTION>
COMMON STOCK
Sectors Industries Investments Shares Market Value
<S> <S> <S> <C> <C>
Basic Materials Aluminum MAXXAM Group, Inc.++ 64,000 $ 2,408,000
Chemicals du Pont (E.I.) de Nemours & Co. 20,000 1,587,500
Chemicals--Diverse Airgas, Inc.++ 24,000 495,000
Paper & Forest Products Longview Fibre Co. 29,140 462,597
Capital Goods Electrical Equipment AFC Cable Systems, Inc.++ 20,000 325,000
General Electric Co. 13,971 1,192,774
Honeywell, Inc. 5,715 300,752
Engineering & Construction Jacobs Engineering Group, Inc.++ 77,250 2,018,156
Manufacturing Dover Corp. 6,900 311,363
Pollution Control World Fuel Services Corp.* 46,000 828,000
<PAGE>
Consumer Cyclicals Auto Parts Bandag, Inc. (Class A) 6,200 285,200
Entertainment Pinnacle Systems, Inc.++ 60,000 1,155,000
Walt Disney Company (The) 29,000 1,682,000
Hotel/Motel Harrah's Entertainment, Inc.++ 40,000 945,000
Household Furniture & Basset Furniture Industries, Inc. 12,000 294,000
Appliances Leggett & Platt, Inc. 43,000 1,166,375
Leisure Time Grand Casinos, Inc.*++ 61,300 1,478,862
Office Equipment & Supplies Alco Standard Corp. 10,000 438,750
Publishing--Newspaper Times Mirror Co. 11,330 485,774
Restaurants Bob Evans Farms, Inc. 50,000 750,000
Boston Chicken, Inc.++ 30,000 892,500
Darden Restaurants, Inc. 18,605 183,724
McDonald's Corp. 4,255 190,411
Rainforest Cafe, Inc.*++ 15,000 395,625
Retail--General Merchandise Casey's General Stores, Inc.* 15,000 281,250
Retail--Specialty Amplicon, Inc. 62,500 1,046,875
Office Depot, Inc.++ 48,000 936,000
Regis Corp. 20,000 680,000
Sunglass Hut International, Inc.*++ 12,000 237,000
Specialized Services Career Horizons, Inc.++ 20,000 570,000
Catalina Marketing Corporation++ 11,500 1,060,875
Service Corporation International* 6,000 336,000
ServiceMaster L.P.++ 36,675 825,188
Textiles--Apparel Russell Corp. 19,900 549,738
Manufacturing St. John Knits, Inc.* 59,954 2,682,941
Consumer Staples Beverages--Soft Drink Coca-Cola Co. 13,800 662,400
PanAmerican Beverages, Inc. 14,000 616,000
Foods Archer-Daniels-Midland Co. 10,366 194,362
General Mills, Inc. 4,000 215,000
Heinz (H.J.) Co. 16,200 500,175
Ralston Purina Co. 6,000 375,000
Household Products Procter & Gamble Co. 11,081 980,669
Retail--Food Chains Albertson's, Inc. 7,500 302,812
Safeway, Inc.++ 12,000 421,500
Smart & Final, Inc.* 60,000 1,507,500
Tobacco Philip Morris Companies, Inc. 13,671 1,399,569
UST, Inc. 100,000 3,362,500
<PAGE>
Energy Oil--International Exxon Corp. 16,500 1,468,500
Healthcare Healthcare--Diverse Abbott Laboratories 37,685 1,596,902
Johnson & Johnson Co. 19,600 940,800
Warner-Lambert Co. 5,500 319,000
</TABLE>
<TABLE>
SCHEDULE OF INVESTMENTS (concluded) (Unaudited)
<CAPTION>
COMMON STOCK
Sectors Industries Investments Shares Market Value
<S> <S> <S> <C> <C>
Healthcare Healthcare--Drugs Pfizer, Inc. 10,200 $ 748,425
(concluded) Watson Pharmaceuticals, Inc.++ 100,000 3,487,500
Healthcare--HMOs Medpartners/Mullikin Inc.++ 13,600 260,100
Medpartners/Mullikin Inc.*++ 161,400 3,086,775
Mid-Atlantic Medical Services, Inc.++ 21,240 286,740
Healthcare--Miscellaneous Apria Healthcare Group, Inc.*++ 39,060 1,122,975
Community Care of America, Inc.*++ 35,000 273,437
Exogen, Inc.*++ 35,000 288,750
Healthsouth Rehabilitation Corp.*++ 28,000 973,000
HEARx, Ltd.*++ 60,000 367,500
Horizon/CMS Healthcare Corp.*++ 68,451 855,638
OccuSystems, Inc.*++ 36,145 1,125,013
Hospital Management Tenet Healthcare Corp.++ 25,000 521,875
Medical Products Saint Jude Medical, Inc.*++ 50,000 1,653,125
Interest Sensitive Banks--Money Center Chase Manhattan Corp. 5,000 343,125
Banks--Regional First Union Corporation 4,200 265,650
Northern Trust Corp. 9,450 542,194
PNC Bank Corp. 18,860 570,515
Wells Fargo & Company 2,100 486,150
Financial--Miscellaneous First USA, Inc. 14,991 762,667
Forest City Enterprises, Inc. 22,000 924,000
Mercury Finance Company 37,000 448,625
Student Loan Marketing Association 4,110 303,113
Insurance--Brokers Marsh & McLennan Companies, Inc. 4,400 413,600
Insurance--Life John Alden Financial Corporation 11,536 242,256
Insurance--Multiline American International Group, Inc. 5,015 470,783
<PAGE>
Insurance--Property Commerce Group, Inc. 50,000 1,075,000
Savings & Loan Ahmanson (H.F.) & Co. 50,400 1,304,100
CCB Financial Corp. 6,643 337,963
Miscellaneous Miscellaneous Minnesota Mining & Manufacturing Co. 2,860 197,340
Technology Communications--Equipment MFS Communications Co., Inc.++ 9,176 340,659
Computer Software Informix, Corp.++ 13,273 316,893
Parametric Technology Company++ 7,000 309,750
SunGard Data Systems, Inc.++ 8,100 307,800
Computer Systems 3Com Corp.*++ 6,000 273,000
Cerplex Group, Inc.*++ 50,000 343,750
COMPAQ Computer Corp.++ 6,300 300,825
Hewlett-Packard Co. 8,000 712,000
International Business Machines Corp. 6,500 644,312
Stratus Computer, Inc.++ 10,000 261,250
Electronics--Instruments GenRad, Inc.++ 25,000 362,500
Electronics--Semiconductors Intel Corporation 4,000 291,500
Motorola, Inc. 31,500 1,823,063
Solectron Corp.++ 9,750 343,687
Telecommunications-- AT&T Corp. 8,200 487,900
Long Distance
Transportation Truckers Anuhco, Inc.++ 34,221 286,601
Caliber System, Inc. 8,600 196,725
Utilities Electric Utilities Citizens Utilities Company (Class A) 25,000 287,500
Telephone ALLTEL Corp.* 35,000 1,041,250
C-TEC Corp. (Class B)++ 35,000 997,500
Telephone & Data Systems, Inc. 11,300 502,850
<PAGE>
PREFERRED Banks--Foreign Banesto Holdings (10.5%, Series A) (ADR)** 476,786 14,124,785
STOCK (1) Indosuez Holdings, S.C.A. (10.375%,
Series A) (ADR)** 379,000 10,422,500
Cash Contributions $ 544,000
------------
Gross Contributions 103,601,453
Liabilities in Excess of Other Assets (26,751,030)
------------
Net Assets--Equivalent to $500.00 Per Share
Based on 153,700.844 Shares Outstanding $ 76,850,423
============
<FN>
*Restricted securities.
**American Depositary Receipt (ADR).
++Non-income producing securities.
(1)Values for preferred stocks, which were not held in escrow,
are at cost as of trade date for settlement on July 11, 1996.
</TABLE>
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