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, 1999
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: Standish, Ayer & Wood
Address: One Financial Center
Suite 26
Boston, MA 02111-2662
13F File Number: 028-04303
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: Beverly Banfield
Title: Compliance Officer
Phone: 617-350-6100
Signature, Place, and Date of Signing:
Beverly Banfield Boston, MA June 30, 1999
- ---------------- ------------- -------------
[Signature] [City, State] [Date]
Report Type (Check only one.):
[ X] 13F HOLDINGS REPORT.
[ ] 13F NOTICE.
[ ] 13F COMBINATION REPORT.
List of Other Managers Reporting for this Manager:
Standish International Management Company, L.P.
I AM SIGNING THIS REPORT AS REQUIRED BY THE SECURITIES EXCHANGE ACT OF 1934.
<PAGE>
FORM 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers: 1
Form 13F Information Table Entry Total: 415
Form 13F Information Table Value Total: $3,719,735,774
List of Other Included Managers:
No. 13F File Number Name
- --- --------------- ----
01 N/A Standish International Management Company, L.P.
<PAGE>
<TABLE>
<CAPTION>
Column 1 Column 2 Column 3 Column 4 Column 5 Column 6 Column 7 Column 8
- ---------------------------------------------------------------------------------------------------------------------------------
Name of Issuer Title of CUSIP VALUE Shares or SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
Class X(1000) Prn Amt PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
- ---------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
ACE LIMITED COMMON G0070K103 7873 278,700 SH SOLE 278,700
TOMMY HILFIGER CORP COMMON G8915Z102 31881 433,750 SH SOLE 433,750
SBS BROADCASTING SA COMMON L8137F102 19079 591,600 SH SOLE 591,600
CORE LABS INC COMMON N22717107 2343 168,100 SH SOLE 168,100
STEINER LEISURE LTD COMMON P8744Y102 8012 264,325 SH SOLE 264,325
ADT OPERATIONS CVT CV BOND 000945AC9 514 200,000 PRN SOLE 200,000
AHL SERVICES INC COMMON 001296102 7713 309,300 SH SOLE 309,300
A T & T CORP COMMON 001957109 16580 297,066 SH SOLE 297,066
ATMI INC COMMON 00207R101 16589 557,600 SH SOLE 557,600
ABACUS DIRECT CORP COMMON 002553105 6908 75,500 SH SOLE 75,500
ABBOTT LABS COMMON 002824100 19699 432,952 SH SOLE 432,952
ABOVENET COMMUNICATIONS COMMON 003743101 6165 152,700 SH SOLE 152,700
ACCESS WORLDWIDE COMM INC COMMON 004319109 1896 303,400 SH SOLE 303,400
ADAPTEC INC COMMON 00651F108 964 27,300 SH SOLE 27,300
ADFORCE INC COMMON 006867105 2338 99,500 SH SOLE 99,500
AIR PRODUCTS & CHEM COMMON 009158106 8002 198,800 SH SOLE 198,800
ALBERTSON'S INC COMMON 013104104 3233 62,702 SH SOLE 62,702
ALCOA INC COMMON 013817101 619 10,000 SH SOLE 10,000
ALKERMES INC COMMON 01642T108 2954 127,750 SH SOLE 127,750
ALLIED GROUP INC COMMON 019220102 541 11,250 SH SOLE 11,250
ALLIED SIGNAL INC COMMON 019512102 9494 150,700 SH SOLE 150,700
ALLSTATE CORP COMMON 020002101 3790 105,640 SH SOLE 105,640
AMBAC FINANCIAL GROUP INC COMMON 023139108 16726 292,800 SH SOLE 292,800
AMERICAN BANKERS INSURANCE GROUP COMMON 024456105 860 15,800 SH SOLE 15,800
AMER GEN CORP COMMON 026351106 3672 48,714 SH SOLE 48,714
AMERICAN HOME PRODUCTS COMMON 026609107 1376 23,977 SH SOLE 23,977
AMERICAN INTERNATIONAL GROUP COMMON 026874107 1516 12,930 SH SOLE 12,930
AMERICAN POWER CONVERSION CORP COMMON 029066107 33092 1,644,300 SH SOLE 1,644,300
AMERICREDIT CORP COMMON 03060R101 11045 690,300 SH SOLE 690,300
AMERISOURCE HEALTH CORP CL A COMMON 03071P102 12095 474,300 SH SOLE 474,300
AMERITECH CORP COMMON 030954101 12055 164,010 SH SOLE 164,010
AMGEN INC COMMON 031162100 46569 765,000 SH SOLE 765,000
AMOCO CORP COMMON 031905102 599 10,000 SH SOLE 10,000
AMSOUTH BANCORPORATION COMMON 032165102 12249 528,250 SH SOLE 528,250
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
Column 1 Column 2 Column 3 Column 4 Column 5 Column 6 Column 7 Column 8
- ------------------------------------------------------------------------------------------------------------------------------------
Name of Issuer Title of CUSIP VALUE Shares or SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
Class X(1000) Prn Amt PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
ANHEUSER BUSCH COS INC COMMON 035229103 7285 102,700 SH SOLE 102,700
APARTMENT INV & MGMT CO A COMMON 03748R101 2082 48,700 SH SOLE 48,700
APOLLO GROUP INC-CL A COMMON 037604105 789 29,700 SH SOLE 29,700
APPLE COMPUTER INC COMMON 037833100 23045 497,600 SH SOLE 497,600
APPLIED MICRO CIRCUITS CORP COMMON 03822W109 21056 256,000 SH SOLE 256,000
ASHLAND OIL INC COMMON 044204105 5730 142,800 SH SOLE 142,800
ATLANTIC COAST AIRLINES INC COMMON 048396105 7583 399,100 SH SOLE 399,100
ATLANTIC RICHFIELD CO COMMON 048825103 1335 15,974 SH SOLE 15,974
AVERY-DENNISON CORP COMMON 053611109 1960 32,460 SH SOLE 32,460
BJ'S WHOLESALE CLUB INC COMMON 05548J106 6149 204,560 SH SOLE 204,560
B P AMOCO PLC COMMON 055622104 54392 501,309 SH SOLE 501,309
BMC SOFTWARE INC COMMON 055921100 21751 402,800 SH SOLE 402,800
BALL CORP COMMON 058498106 7947 188,100 SH SOLE 188,100
BANKAMERICA CORP COMMON 060505104 7095 96,772 SH SOLE 96,772
BANK ONE CORP COMMON 06423A103 2422 40,665 SH SOLE 40,665
BANKBOSTON CORP COMMON 06605R106 4555 89,090 SH SOLE 89,090
BEA SYSTEMS INC COMMON 073325102 4233 148,200 SH SOLE 148,200
BECTON DICKINSON COMMON 075887109 4449 148,300 SH SOLE 148,300
BELL ATLANTIC CORP COMMON 077853109 32474 496,736 SH SOLE 496,736
BELLSOUTH CORP COMMON 079860102 28894 616,408 SH SOLE 616,408
BERGEN BRUNSWICK CL A COMMON 083739102 11908 690,300 SH SOLE 690,300
BEST SOFTWARE INC COMMON 086579109 645 40,000 SH SOLE 40,000
BINDLEY WESTERN INDS COMMON 090324104 242 10,487 SH SOLE 10,487
BRANDYWINE REALTY TRUST COMMON 105368203 824 41,600 SH SOLE 41,600
BRIGHT HORIZONS FAMILY SOLUTIONS COMMON 109195107 649 34,400 SH SOLE 34,400
BRINKER INTL INC COMMON 109641100 11462 421,600 SH SOLE 421,600
BRISTOL-MYERS SQUIBB INC COMMON 110122108 28041 398,096 SH SOLE 398,096
BUCA INC COMMON 117769109 2848 172,600 SH SOLE 172,600
CBL & ASSOCIATES PROPERTIES COMMON 124830100 2775 105,200 SH SOLE 105,200
CBT GROUP PLC COMMON 124853300 4242 257,100 SH SOLE 257,100
CCBT BANCORP INC COMMON 12487S105 393 20,416 SH SOLE 20,416
CIGNA CORP COMMON 125509109 3631 40,800 SH SOLE 40,800
C NET INC COMMON 125945105 807 14,000 SH SOLE 14,000
CABOT CORP COMMON 127055101 20393 843,134 SH SOLE 843,134
CABOT OIL & GAS CORP CL A COMMON 127097103 2725 146,333 SH SOLE 146,333
CADENCE DESIGN SYS INC COMMON 127387108 1245 98,650 SH SOLE 98,650
CAL DIVE INTL INC COMMON 127914109 8039 269,100 SH SOLE 269,100
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
Column 1 Column 2 Column 3 Column 4 Column 5 Column 6 Column 7 Column 8
- ------------------------------------------------------------------------------------------------------------------------------------
Name of Issuer Title of CUSIP VALUE Shares or SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
Class X(1000) Prn Amt PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
CARLISLE COS INC COMMON 142339100 3431 71,300 SH SOLE 71,300
CARNIVAL CORP COMMON 143658102 29527 608,800 SH SOLE 608,800
CAROLINA PWR & LGT CORP COMMON 144141108 1143 26,700 SH SOLE 26,700
CENTEX CORP COMMON 152312104 16434 437,500 SH SOLE 437,500
CENTRAL PARKING CORP COMMON 154785109 3402 99,325 SH SOLE 99,325
CENTURY TELEPHONE ENTERPRISE COMMON 156700106 19616 493,489 SH SOLE 493,489
CERIDIAN CORP COMMON 15677T106 3792 116,000 SH SOLE 116,000
CHARLES RIVER ASSOCIATES INC COMMON 159852102 10554 421,100 SH SOLE 421,100
CHASE MNHTN CORP COMMON 16161A108 7918 91,400 SH SOLE 91,400
CHECKFREE CORPORATION COMMON 162816102 1314 47,666 SH SOLE 47,666
CHEVRON CORP COMMON 166751107 7487 78,655 SH SOLE 78,655
CHIREX INC COMMON 170038103 11957 372,200 SH SOLE 372,200
CINAR CORP COMMON 171905300 9518 388,500 SH SOLE 388,500
CITADEL COMMUNICATIONS CORP COMMON 172853202 11327 313,000 SH SOLE 313,000
CITIGROUP INC COMMON 172967101 12432 261,729 SH SOLE 261,729
CLAIRE'S STORES INC COMMON 179584107 3173 123,225 SH SOLE 123,225
CLAYTON HOMES INC COMMON 184190106 7726 675,529 SH SOLE 675,529
CLOROX CORP COMMON 189054109 3407 31,896 SH SOLE 31,896
CLOSURE MEDICAL CORP COMMON 189093107 13419 447,300 SH SOLE 447,300
COACH USA INC COMMON 18975L106 5926 141,300 SH SOLE 141,300
COASTAL CORP COMMON 190441105 14640 366,000 SH SOLE 366,000
COINSTAR INC COMMON 19259P300 4297 149,800 SH SOLE 149,800
COMMONWEALTH BANCORP INC COMMON 20268X102 246 13,700 SH SOLE 13,700
COMPAQ COMPUTER CORP COMMON 204493100 5401 228,020 SH SOLE 228,020
COMPUTER ASSOCIATES INTERNATIONAL COMMON 204912109 34002 618,217 SH SOLE 618,217
COMPUTER NETWORK TECH CORP COMMON 204925101 13297 614,900 SH SOLE 614,900
COMPUWARE CORP COMMON 205638109 7037 221,200 SH SOLE 221,200
CONAGRA INC COMMON 205887102 341 12,800 SH SOLE 12,800
CONCENTRIC NETWORK CRP COMMON 20589R107 8884 223,500 SH SOLE 223,500
CONSECO INC COMMON 208464107 37627 1,236,209 SH SOLE 1,236,209
CONTINENTAL AIRLINES CL B COMMON 210795308 3375 89,700 SH SOLE 89,700
COOPER CAMERON CORP COMMON 216640102 2639 71,200 SH SOLE 71,200
COOPER TIRE COMMON 216831107 2764 117,000 SH SOLE 117,000
COPART INC COMMON 217204106 336 15,800 SH SOLE 15,800
CORDANT TECHNOLOGIES INC COMMON 218412104 14297 316,400 SH SOLE 316,400
CORPORATE EXECUTIVE BOARD COMPANY COMMON 21988R102 6899 194,000 SH SOLE 194,000
COSTCO INC COMMON 22160Q102 7914 98,850 SH SOLE 98,850
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
Column 1 Column 2 Column 3 Column 4 Column 5 Column 6 Column 7 Column 8
- --------------------------------------------------------------------------------------------------------------------------------
Name of Issuer Title of CUSIP VALUE Shares or SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
Class X(1000) Prn Amt PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
- --------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
COULTER PHARMACEUTICAL INC COMMON 222116105 8014 355,200 SH SOLE 355,200
COUNTRYWIDE CREDIT IND INC COMMON 222372104 8063 188,600 SH SOLE 188,600
CRANE CO COMMON 224399105 20230 643,499 SH SOLE 643,499
CREE RESEARCH INC COMMON 225447101 6824 88,700 SH SOLE 88,700
CULLEN/FROST BANKERS INC COMMON 229899109 11102 402,800 SH SOLE 402,800
CYBEX COMPUTER PRODUCTS COMMON 232522102 7649 274,400 SH SOLE 274,400
CYTYC CORPORATION COMMON 232946103 9838 504,500 SH SOLE 504,500
DSP COMMUNICATIONS INC COMMON 23332K106 6852 237,300 SH SOLE 237,300
DTE ENERGY CO COMMON 233331107 6652 166,300 SH SOLE 166,300
DALLAS SEMICONDUCTOR CORP COMMON 235204104 1353 26,800 SH SOLE 26,800
DATASTREAM SYSTEMS INC COMMON 238124101 666 41,600 SH SOLE 41,600
DELPHI FINANCIAL GROUP-CL A COMMON 247131105 15332 427,334 SH SOLE 427,334
DENTSPLY INTERNATIONAL INC COMMON 249030107 1322 45,800 SH SOLE 45,800
DEVRY INC COMMON 251893103 3969 177,400 SH SOLE 177,400
DIAMOND TECH PARTNERS INC COMMON 252762109 2202 98,400 SH SOLE 98,400
DIEBOLD INC COMMON 253651103 2803 97,500 SH SOLE 97,500
DIGITAL ISLAND COMMON 25385N101 5381 300,000 SH SOLE 300,000
DIGITAL RIVER INC COMMON 25388B104 12705 382,100 SH SOLE 382,100
DIME BANCORP INC COMMON 25429Q102 3926 195,100 SH SOLE 195,100
DOVER CORP COMMON 260003108 623 17,800 SH SOLE 17,800
DOW CHEMICAL COMMON 260543103 1738 13,700 SH SOLE 13,700
DRIL-QUIP COPR COMMON 262037104 835 36,400 SH SOLE 36,400
DU PONT EI DE NEMOURS & CO COMMON 263534109 4693 68,704 SH SOLE 68,704
DUKE POWER CO COMMON 264399106 1787 32,828 SH SOLE 32,828
EAGLE USA AIRFREIGHT INC COMMON 270018104 16411 386,700 SH SOLE 386,700
EARTHGRAINS COMPANY COMMON 270319106 10260 397,500 SH SOLE 397,500
EDUCATION MANAGEMENT CORP COMMON 28139T101 9634 464,300 SH SOLE 464,300
EL PASO NATURAL GAS COMMON 283905107 16760 476,320 SH SOLE 476,320
EMERSON ELECTRIC CO COMMON 291011104 3313 52,640 SH SOLE 52,640
EMISPHERE TECHNOLOGIES INC COMMON 291345106 1843 261,000 SH SOLE 261,000
EMMIS COMMUNICATIONS CORP COMMON 291525103 7683 155,600 SH SOLE 155,600
EMULEX CORP COMMON 292475209 8584 77,200 SH SOLE 77,200
ENHANCE FINANCIAL SVCS GROUP COMMON 293310108 2072 104,900 SH SOLE 104,900
ENTERCOM COMMUNICATIONS CORP COMMON 293639100 765 17,900 SH SOLE 17,900
EQUITY OFFICE PROPERTIES TRUST COMMON 294741103 4700 183,421 SH SOLE 183,421
EQUITY OFFICE PROP CVTS PFD STCK 294741509 93647 2,197,000 SH SOLE 183,421
EQUITY RESIDENTIAL PROPS TR COMMON 29476L107 936 20,780 SH SOLE 20,780
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
Column 1 Column 2 Column 3 Column 4 Column 5 Column 6 Column 7 Column 8
- ------------------------------------------------------------------------------------------------------------------------------------
Name of Issuer Title of CUSIP VALUE Shares or SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
Class X(1000) Prn Amt PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
ESSEX PROPERTY TRUST INC COMMON 297178105 1472 41,600 SH SOLE 41,600
EXCELSIOR-HENDERSON MOTORCYCLE CO COMMON 300906104 4471 745,100 SH SOLE 745,100
EXODUS COMMUNICATIONS INC COMMON 302088109 5013 41,800 SH SOLE 41,800
EXPEDITORS INTL WASH INC COMMON 302130109 706 25,900 SH SOLE 25,900
EXXON CORP COMMON 302290101 28009 363,161 SH SOLE 363,161
FPIC INSURANCE GROUP COMMON 302563101 10025 206,700 SH SOLE 206,700
FPL GROUP INC COMMON 302571104 11889 217,650 SH SOLE 217,650
FYI INC COMMON 302712104 9635 307,100 SH SOLE 307,100
FEDERAL HOME LOAN MTG CORP CM COMMON 313400301 14564 251,100 SH SOLE 251,100
FEDERAL NATIONAL MORTGAGE ASSN COMMON 313586109 21437 313,516 SH SOLE 313,516
FEDERATED DEPARTMENT STORES COMMON 31410H101 9259 174,900 SH SOLE 174,900
FIRST CONSULTING GROUP COMMON 31986R103 4470 420,700 SH SOLE 420,700
FIRST FINANCIAL HLDGS INC COMMON 320239106 191 10,200 SH SOLE 10,200
FIRST SIERRA FINANCIAL INC COMMON 335944104 2308 92,300 SH SOLE 92,300
FIRST TENNESSEE NATIONAL CORP COMMON 337162101 418 10,900 SH SOLE 10,900
FIRST UNION CORP COMMON 337358105 1037 21,997 SH SOLE 21,997
FIRSTFED FINANCIAL CORP COMMON 337907109 243 12,600 SH SOLE 12,600
FLEET FINL GROUP COMMON 338915101 21515 484,856 SH SOLE 484,856
FLOWERS INDUSTRIES INC COMMON 343496105 11831 545,500 SH SOLE 545,500
FLOYD OIL CO EQUITY V COMMON 3437079A5 507 507,430 SH SOLE 507,430
FLOYD OIL CO EQUITY IV COMMON 343707980 581 581,353 SH SOLE 581,353
FLUSHING FINANCIAL CORP COMMON 343873105 194 12,600 SH SOLE 12,600
FLYCAST COMMUNICATIONS CORP COMMON 344067103 2764 144,500 SH SOLE 144,500
FORT JAMES CORP COMMON 347471104 5223 137,900 SH SOLE 137,900
FORWARD AIR CORP COMMON 349853101 10741 381,900 SH SOLE 381,900
FRIEDMAN BILLINGS & RAMSAY COMMON 358433100 3110 261,900 SH SOLE 261,900
GST COMMUNICATIONS COMMON 361942105 4356 330,300 SH SOLE 330,300
GTE CORP COMMON 362320103 1084 14,356 SH SOLE 14,356
GANNETT INC COMMON 364730101 11752 164,650 SH SOLE 164,650
GENERAL DYNAMICS COMMON 369550108 14084 205,600 SH SOLE 205,600
GENERAL ELECTRIC CO COMMON 369604103 40354 357,118 SH SOLE 357,118
GENERAL GROWTH PROPERTIES COMMON 370021107 8365 235,625 SH SOLE 235,625
GENERAL MOTORS COMMON 370442105 7805 118,264 SH SOLE 118,264
GENERAL MOTORS CLASS H COMMON 370442832 4046 71,930 SH SOLE 71,930
GETTY IMAGES INC COMMON 374276103 2769 146,700 SH SOLE 146,700
GLIMCHER REALTY TRUST COMMON 379302102 1736 106,800 SH SOLE 106,800
GLOBESPAN INC COMMON 379571102 4492 113,000 SH SOLE 113,000
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
Column 1 Column 2 Column 3 Column 4 Column 5 Column 6 Column 7 Column 8
- --------------------------------------------------------------------------------------------------------------------------------
Name of Issuer Title of CUSIP VALUE Shares or SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
Class X(1000) Prn Amt PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
- --------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
GOLDEN WEST FINANCIAL COMMON 381317106 17032 173,800 SH SOLE 173,800
GOODRICH, B F CO COMMON 38238810 64641 109,200 SH SOLE 109,200
GOTO.COM INC COMMON 38348T107 568 20,300 SH SOLE 20,300
GRAY COMMUNICATIONS SYSTEM CL B COMMON 389190208 1863 131,900 SH SOLE 131,900
GTECH HOLDINGS CORP COMMON 400518106 360 15,300 SH SOLE 15,300
HCR MANOR CARE COMMON 404134108 518 21,400 SH SOLE 21,400
M A HANNA CO COMMON 410522106 296 18,000 SH SOLE 18,000
HARLEY DAVIDSON COMMON 412822108 1033 19,000 SH SOLE 19,000
HEALTH CARE REIT INC COMMON 42217K106 265 11,400 SH SOLE 11,400
HEINZ H J CORP COMMON 423074103 20752 414,000 SH SOLE 414,000
HEWLETT PACKARD CVT CV BOND 428236AC7 124 200,000 PRN SOLE 200,000
HEWLETT-PACKARD CO COMMON 428236103 49344 490,984 SH SOLE 490,984
HIBBETT SPORTING GOODS INC COMMON 428565105 9726 442,100 SH SOLE 442,100
IMR HISPANIC BROADCASTING CORP COMMON 43357B104 5433 71,600 SH SOLE 71,600
HOMEBASE INC (WABAN) COMMON 43738E108 101 16,000 SH SOLE 16,000
HON INDUSTRIES COMMON 438092108 683 23,400 SH SOLE 23,400
IBP INC COMMON 449223106 10410 438,300 SH SOLE 438,300
ICG COMMUNICATIONS COMMON 449246107 4841 226,500 SH SOLE 226,500
ILEX ONCOLOGY INC COMMON 451923106 2026 202,600 SH SOLE 202,600
IMPATH INC COMMON 45255G101 7571 280,400 SH SOLE 280,400
IN FOCUS SYSTEMS INC COMMON 452919103 285 19,000 SH SOLE 19,000
INDIGO AVIATION AB SPON ADR COMMON 45567P104 933 140,900 SH SOLE 140,900
INFOSPACE.COM INC COMMON 45678T102 5588 118,900 SH SOLE 118,900
INGERSOLL RAND CO COMMON 456866102 37305 577,250 SH SOLE 577,250
INHALE THERAPEUTIC SYSTEMS COMMON 457191104 7877 330,800 SH SOLE 330,800
INSTANT INFORMATION INC COMMON 4577619A4 49 24,268 SH SOLE 24,268
INSTRON CORP COMMON 457776102 1145 56,559 SH SOLE 56,559
INTEGRATED HLTH SVCS CVT NC'98 CV BOND 45812CAE6 22925 33,225,000 PRN SOLE 33,225,000
INTEL CORP COMMON 458140100 29351 493,302 SH SOLE 493,302
INTERIM SERVICES INC COMMON 45868P100 19494 945,150 SH SOLE 945,150
INTERNATIONAL BUSINESS MACHINES COMMON 459200101 46455 359,416 SH SOLE 359,416
INTERNATIONAL HOME FOODS INC COMMON 459655106 238 12,900 SH SOLE 12,900
INTL GAME TECHNOLOGY COMMON 459902102 1455 78,650 SH SOLE 78,650
INTERPUBLIC GROUP COS INC COMMON 460690100 2400 27,700 SH SOLE 27,700
INTERSTATE BAKERIES COMMON 46072H108 871 38,800 SH SOLE 38,800
INTERNET.COM INC COMMON 460967102 188 15,000 SH SOLE 15,000
INTERVU INC COMMON 46114R106 510 13,300 SH SOLE 13,300
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
Column 1 Column 2 Column 3 Column 4 Column 5 Column 6 Column 7 Column 8
- ------------------------------------------------------------------------------------------------------------------------------------
Name of Issuer Title of CUSIP VALUE Shares or SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
Class X(1000) Prn Amt PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
INTERVOICE INC COMMON 461142101 219 15,200 SH SOLE 15,200
JP REALTY INC COMMON 46624A106 2266 110,200 SH SOLE 110,200
JACOBS ENGR GROUP COMMON 469814107 2637 69,400 SH SOLE 69,400
JOHNSON & JOHNSON COMMON 478160104 26209 267,438 SH SOLE 267,438
JOHNSON CONTROLS COMMON 478366107 840 12,122 SH SOLE 12,122
JONES APPAREL GROUP INC COMMON 480074103 34875 1,016,400 SH SOLE 1,016,400
KAUFMAN & BROAD HOME CORP COMMON 486168107 12942 520,300 SH SOLE 520,300
KAYDON CORP COMMON 486587108 1308 38,900 SH SOLE 38,900
KNIGHT-RIDDER INC COMMON 499040103 26722 486,400 SH SOLE 486,400
KROGER CO COMMON 501044101 28627 1,024,690 SH SOLE 1,024,690
KROLL O'GARA COMPANY COMMON 501050108 9169 415,600 SH SOLE 415,600
LABOR READY INC COMMON 505401208 393 12,100 SH SOLE 12,100
LAFARGE CORPORATION COMMON 505862102 5213 147,100 SH SOLE 147,100
LANCASTER COLONY CORP COMMON 513847103 1483 43,000 SH SOLE 43,000
LANDMARK SYSTEMS CORP COMMON 51506S100 3385 326,300 SH SOLE 326,300
LEAR CORPORATION COMMON 521865105 731 14,700 SH SOLE 14,700
LEGGETT & PLATT INC COMMON 524660107 10446 375,600 SH SOLE 375,600
LEUCADIA NATL CORP COMMON 527288104 575 22,679 SH SOLE 22,679
LIBERTY PROPERTY TRUST COMMON 531172104 8725 350,758 SH SOLE 350,758
LIGAND PHARMACEUTICALS CL B COMMON 53220K207 3786 340,300 SH SOLE 340,300
LILLY ELI & CO B COMMON 532457108 1079 15,070 SH SOLE 15,070
LUCENT TECHNOLOGIES COMMON 549463107 2442 36,206 SH SOLE 36,206
MBNA CORP COMMON 55262L100 970 31,689 SH SOLE 31,689
MCI WORLDCOM INC COMMON 55268B106 904 10,500 SH SOLE 10,500
MACERICH COMPANY COMMON 554382101 2344 89,300 SH SOLE 89,300
CALI REALTY CORP COMMON 554489104 2224 71,875 SH SOLE 71,875
MANITOWOC CO COMMON 563571108 1665 40,000 SH SOLE 40,000
MARSH & MCLENNAN COS INC COMMON 571748102 10923 144,318 SH SOLE 144,318
MAY DEPT STORES COMMON 577778103 13311 325,650 SH SOLE 325,650
MAXIMUS INC COMMON 577933104 7731 268,900 SH SOLE 268,900
MAYTAG CORP COMMON 578592107 5108 73,300 SH SOLE 73,300
MEDQUIST INC COMMON 584949101 10776 246,300 SH SOLE 246,300
MEDTRONIC COMMON 585055106 6146 78,915 SH SOLE 78,915
THE MEN'S WEARHOUSE INC COMMON 587118100 3838 150,500 SH SOLE 150,500
MENTOR GRAPHICS INC COMMON 587200106 165 12,900 SH SOLE 12,900
MERCK & CO COMMON 589331107 27634 375,338 SH SOLE 375,338
MERCURY INTERACTIVE CORP COMMON 589405109 6375 180,200 SH SOLE 180,200
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
Column 1 Column 2 Column 3 Column 4 Column 5 Column 6 Column 7 Column 8
- ------------------------------------------------------------------------------------------------------------------------------------
Name of Issuer Title of CUSIP VALUE Shares or SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
Class X(1000) Prn Amt PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
MERISTAR HOSPITALITY CORP COMMON 58984Y103 2926 130,400 SH SOLE 130,400
METRO NETWORKS INC COMMON 591918107 15751 295,100 SH SOLE 295,100
MICREL INC COMMON 594793101 9220 124,600 SH SOLE 124,600
MICROSOFT CORP COMMON 594918104 7434 82,434 SH SOLE 82,434
S&P 400 MID-CAP DEP RECEIPT COMMON 595635103 27241 347,300 SH SOLE 347,300
MILACRON INC COMMON 598709103 378 20,445 SH SOLE 20,445
MOBIL CORPORATION COMMON 607059102 19153 193,464 SH SOLE 193,464
MOHAWK INDUSTRIES INC COMMON 608190104 2709 89,200 SH SOLE 89,200
J P MORGAN & CO COMMON 616880100 2703 19,241 SH SOLE 19,241
MORGAN STANLEY EMERGING MKTS FUND COMMON 61744G107 6192 529,800 SH SOLE 529,800
MORGAN ST DEAN WITTER DISCOVER COMMON 617446448 18328 178,810 SH SOLE 178,810
NCO GROUP INC COMMON 628858102 6190 162,900 SH SOLE 162,900
NASDAQ-100 SHARES COMMON 631100104 5639 48,900 SH SOLE 48,900
NATIONAL COMPUTER SYSTEMS INC COMMON 635519101 4438 131,500 SH SOLE 131,500
NATIONAL INSTRUMENTS INC COMMON 636518102 594 14,700 SH SOLE 14,700
NAVISTAR INT'L CORP COMMON 63934E108 29520 590,400 SH SOLE 590,400
NETWORK EVENT THEATRE INC COMMON 640924106 2223 132,700 SH SOLE 132,700
NET.B@NK INC COMMON 640933107 4678 123,100 SH SOLE 123,100
NETWORKS ASSOCIATES INC COMMON 640938106 192 13,100 SH SOLE 13,100
NEVADA POWER CO COMMON 641423108 250 10,000 SH SOLE 10,000
NEW ERA OF NETWORKS INC COMMON 644312100 3511 79,900 SH SOLE 79,900
NEWELL RUBBERMAID INC COMMON 651229106 560 12,072 SH SOLE 12,072
NORTH FORK BANCORP COMMON 659424105 9279 435,400 SH SOLE 435,400
NOVOSTE CORPORATION COMMON 67010C100 7678 365,600 SH SOLE 365,600
OFFICE DEPOT INC COMMON 676220106 11037 500,250 SH SOLE 500,250
OLD REPUBLIC INTL CORP COMMON 680223104 2704 156,175 SH SOLE 156,175
OMNICARE INC COMMON 681904108 297 23,500 SH SOLE 23,500
OMNICOM GROUP COMMON 681919106 42025 525,310 SH SOLE 525,310
ON ASSIGNMENT INC COMMON 682159108 3054 116,900 SH SOLE 116,900
ORACLE CORPORATION COMMON 68389X105 583 15,700 SH SOLE 15,700
ORTHODONTIC CENTERS OF AMERICA INC COMMON 68750P103 4165 294,900 SH SOLE 294,900
OWENS ILLINOIS INC COMMON 690768403 4504 137,800 SH SOLE 137,800
THE PMI GROUP INC COMMON 69344M101 21231 338,000 SH SOLE 338,000
PRI AUTOMATION INC COMMON 69357H106 4597 126,800 SH SOLE 126,800
PACCAR INC COMMON 693718108 6618 124,000 SH SOLE 124,000
PAN PACIFIC RETAIL PROPERTIES COMMON 69806L104 1350 69,700 SH SOLE 69,700
PATTERSON DENTAL COMPANY COMMON 703412106 952 27,400 SH SOLE 27,400
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
Column 1 Column 2 Column 3 Column 4 Column 5 Column 6 Column 7 Column 8
- ------------------------------------------------------------------------------------------------------------------------------------
Name of Issuer Title of CUSIP VALUE Shares or SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
Class X(1000) Prn Amt PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
PAXSON COMMUNICATIONS CORP COMMON 704231109 3205 237,400 SH SOLE 237,400
PERVASIVE SOFTWARE INC COMMON 715710109 12122 487,300 SH SOLE 487,300
PHARMACYCLICS INC COMMON 716933106 5096 182,000 SH SOLE 182,000
0PFIZER, INC COMMON 71708110 32765 25,370 SH SOLE 25,370
PHARMACEUTICAL PRODUCT DEV COMMON 717124101 8445 308,500 SH SOLE 308,500
PHILIP MORRIS COS INC COMMON 718154107 14735 366,659 SH SOLE 366,659
PHOTRONICS INC COMMON 719405102 14342 585,400 SH SOLE 585,400
PIER 1 IMPORTS INC COMMON 720279108 8448 750,908 SH SOLE 750,908
PILGRIMS PRIDE CORP COMMON 721467108 378 12,600 SH SOLE 12,600
PING AN INSURANCE CO COMMON 7234289A8 10 10,000 SH SOLE 10,000
PINNACLE HOLDINGS INC COMMON 72346N101 18226 743,900 SH SOLE 743,900
PINNACLE SYSTEM INC COMMON 723481107 461 13,700 SH SOLE 13,700
POTASH CORP OF SASKATCHEWAN COMMON 73755L107 590 11,400 SH SOLE 11,400
POTOMAC ELECTRIC POWER COMMON 737679100 309 10,500 SH SOLE 10,500
PRAXAIR INC COMMON 74005P104 3368 68,820 SH SOLE 68,820
PRECISION CASTPARTS CORP COMMON 740189105 2423 57,000 SH SOLE 57,000
PREMARK INTERNATIONAL INC COMMON 740459102 2970 79,200 SH SOLE 79,200
PRENTISS PROPERTIES TRUST COMMON 740706106 11168 475,250 SH SOLE 475,250
PROCTER & GAMBLE CO COMMON 742718109 4607 51,619 SH SOLE 51,619
PROTECTIVE LIFE CORP(PINE LANDS) COMMON 743674103 4556 134,000 SH SOLE 134,000
PROVIDENT COMPANIES INC COMMON 743862104 1164 29,100 SH SOLE 29,100
PROXICOM INC COMMON 744282104 2096 81,600 SH SOLE 81,600
PULTE CORP COMMON 745867101 1859 80,600 SH SOLE 80,600
QLOGIC CORP COMMON 747277101 20302 153,800 SH SOLE 153,800
QUAKER OATS CO COMMON 747402105 4865 73,300 SH SOLE 73,300
QUANTA SERVICES INC COMMON 74762E102 15440 350,900 SH SOLE 350,900
RACING CHAMPIONS CORP COMMON 750069106 1382 193,900 SH SOLE 193,900
RADIO ONE INC COMMON 75040P108 1009 21,700 SH SOLE 21,700
RARE HOSPITALITY INTL INC COMMON 753820109 342 13,400 SH SOLE 13,400
RAYCHEM CORP COMMON 754603108 2079 56,200 SH SOLE 56,200
COSTAR GROUP COMMON 75612B107 13033 299,600 SH SOLE 299,600
REGIONS FINANCIAL CORP (1ST ALAB) COMMON 758940100 4675 121,640 SH SOLE 121,640
RELIASTAR FINANCIAL CORP (NWNL) COMMON 75952U103 36811 841,389 SH SOLE 841,389
REUTERS HOLDINGS PLC ADR B COMMON 76132M102 6140 75,744 SH SOLE 75,744
REXALL SUNDOWN INC COMMON 761648104 149 12,200 SH SOLE 12,200
REYNOLDS & REYNOLDS COMMON 761695105 2203 94,516 SH SOLE 94,516
RICHFOOD HOLDINGS INC COMMON 763408101 4077 231,325 SH SOLE 231,325
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
Column 1 Column 2 Column 3 Column 4 Column 5 Column 6 Column 7 Column 8
- ------------------------------------------------------------------------------------------------------------------------------------
Name of Issuer Title of CUSIP VALUE Shares or SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
Class X(1000) Prn Amt PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
ROBERT HALF INTL INC COMMON 770323103 284 11,000 SH SOLE 11,000
ROHM & HAAS CO COMMON 775371107 815 19,000 SH SOLE 19,000
ROMAC INTERNATIONAL INC COMMON 775835101 107 12,000 SH SOLE 12,000
ROSS STORES INC COMMON 778296103 24112 478,650 SH SOLE 478,650
ROYAL DUTCH PETROL 5 GUILDERS COMMON 780257804 8098 134,400 SH SOLE 134,400
RYAN'S FAMILY STEAK HOUSES INC COMMON 783519101 1910 164,300 SH SOLE 164,300
SBC COMMUNICATIONS INC (SW BELL) COMMON 78387G103 943 16,262 SH SOLE 16,262
SBS TECHNOLOGIES INC COMMON 78387P103 3542 174,900 SH SOLE 174,900
SCI SYSTEMS INC COMMON 783890106 10699 225,250 SH SOLE 225,250
SAFEWAY STORES COMMON 786514208 23257 469,840 SH SOLE 469,840
SAGA COMMUNICATIONS INC CL A COMMON 786598102 3200 171,800 SH SOLE 171,800
ULLICO CLASS A STOCK COMMON 790000004 40 40,000 SH SOLE 40,000
SARA LEE CORP COMMON 803111103 6044 266,400 SH SOLE 266,400
HENRY SCHEIN INC COMMON 806407102 542 17,100 SH SOLE 17,100
SCHERING PLOUGH CORP COMMON 806605101 41352 780,228 SH SOLE 780,228
0SCHLUMBERGER, LTD COMMON 80685710 83993 62,700 SH SOLE 62,700
SCUDDER INTL FD INC COMMON 811165109 15598 304,325 SH SOLE 304,325
SEAGRAM CO LTD COMMON 811850106 781 15,500 SH SOLE 15,500
SECURITY CAPITAL EUROPEAN REALTY COMMON 81413P303 3625 181,250 SH SOLE 181,250
SECURITY FIRST TECHNOLOGIES COMMON 814279105 8795 194,900 SH SOLE 194,900
SEMTECH CORP COMMON 816850101 18020 345,700 SH SOLE 345,700
SERVICE CORP INTERNATIONAL COMMON 817565104 415 21,545 SH SOLE 21,545
SHARED MEDICAL SYS CORP COMMON 819486101 4413 67,625 SH SOLE 67,625
SKECHERS USA INC COMMON 830566105 3892 370,700 SH SOLE 370,700
SOUTHDOWN INC COMMON 841297104 14431 224,600 SH SOLE 224,600
SOUTHTRUST CORP COMMON 844730101 6988 182,100 SH SOLE 182,100
SPORTSLINE USA INC COMMON 848934105 6866 191,400 SH SOLE 191,400
STAMPS.COM INC COMMON 852857101 1761 100,600 SH SOLE 100,600
STAR MEDIA INC COMMON 855546107 6169 96,200 SH SOLE 96,200
STARWOOD HOTELS & RESORTS WORLDWIDE COMMON 85590A203 3922 128,318 SH SOLE 128,318
STERIS CORP COMMON 859152100 17770 917,150 SH SOLE 917,150
STEWART ENTERPRISES INC CL A COMMON 860370105 17745 1,218,540 SH SOLE 1,218,540
STREAMLINE.COM INC COMMON 863239109 685 85,000 SH SOLE 85,000
SUIZA FOOD GROUP COMMON 865077101 9711 231,900 SH SOLE 231,900
SUN MICROSYSTEMS COMMON 866810104 56994 827,506 SH SOLE 827,506
SUNGARD DATA SYSTEMS COMMON 867363103 788 22,850 SH SOLE 22,850
SUNQUEST INFORMATION SYSTEMS COMMON 867654105 242 15,000 SH SOLE 15,000
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
Column 1 Column 2 Column 3 Column 4 Column 5 Column 6 Column 7 Column 8
- ------------------------------------------------------------------------------------------------------------------------------------
Name of Issuer Title of CUSIP VALUE Shares or SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
Class X(1000) Prn Amt PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
SUNTRUST BANKS INC COMMON 867914103 799 11,500 SH SOLE 11,500
SUPERIOR CONSULTANT HLDGS COMMON 868146101 899 36,400 SH SOLE 36,400
SUPERVALU INC COMMON 868536103 12797 498,200 SH SOLE 498,200
SYBRON INTERNATIONAL CORP COMMON 87114F106 20799 754,600 SH SOLE 754,600
SYMBOL TECHNOLOGIES INC COMMON 871508107 13567 367,925 SH SOLE 367,925
SYNOPSYS INC COMMON 871607107 15977 289,500 SH SOLE 289,500
TJX COMPANIES COMM COMMON 872540109 27783 834,000 SH SOLE 834,000
TSI INTL SOFTWARE LTD COMMON 872879101 8073 284,500 SH SOLE 284,500
TERADYNE INC COMMON 880770102 1442 20,100 SH SOLE 20,100
TEXACO INC COMMON 881694103 4355 69,675 SH SOLE 69,675
0TEXTRON, INC COMMON 88320310 16827 82,936 SH SOLE 82,936
TIME WARNER INC COMMON 887315109 5036 69,337 SH SOLE 69,337
TRANSACTION SYSTEMS ARCHITECTURE COMMON 893416107 1248 32,000 SH SOLE 32,000
TRANSKARYOTIC THERAPIES INC COMMON 893735100 4000 121,200 SH SOLE 121,200
TRAVELERS PPTY CASUALTY COMMON 893939108 12062 308,300 SH SOLE 308,300
TRIANGLE PHARMACEUTICAL COMMON 89589H104 4610 256,100 SH SOLE 256,100
TRIBUNE CO NEW COMMON 896047107 871 10,000 SH SOLE 10,000
TRINET CORP RLTY TR COMMON 896287109 2049 74,000 SH SOLE 74,000
TWEETER HOME ENTERTAINMENT COMMON 901167106 5507 140,300 SH SOLE 140,300
TYCO INTERNATIONAL LTD COMMON 902124106 24515 258,732 SH SOLE 258,732
USA NETWORKS INC COMMON 902984103 602 15,000 SH SOLE 15,000
UNISYS CORP COMMON 909214108 21283 546,600 SH SOLE 546,600
UNITED NATURAL FOODS INS COMMON 911163103 10227 413,200 SH SOLE 413,200
UNITED TECHNOLOGIES CORP COMMON 913017109 60142 838,950 SH SOLE 838,950
UNITRODE CORP COMMON 913283107 11079 386,200 SH SOLE 386,200
UNIVERSAL FOODS COMMON 913538104 15610 738,954 SH SOLE 738,954
UNIVERSAL HEALTH SERVICE CL B COMMON 913903100 2435 51,000 SH SOLE 51,000
UNUMPROVIDENT CORP COMMON 91529Y106 915 16,713 SH SOLE 16,713
USFREIGHTWAYS CORPORATION COMMON 916906100 21216 458,100 SH SOLE 458,100
VEECO INSTRUMENTS INC COMMON 922417100 5783 170,100 SH SOLE 170,100
VERISIGN INC COMMON 92343E102 4028 46,700 SH SOLE 46,700
VICAL INC COMMON 925602104 6614 545,500 SH SOLE 545,500
VISHAY INTERTECH INC COMMON 928298108 273 13,002 SH SOLE 13,002
WALDEN RESIDENTIAL PROPERTIES COMMON 931210108 651 30,300 SH SOLE 30,300
WALGREEN CO COMMON 931422109 1563 53,204 SH SOLE 53,204
WARNER LAMBERT CO COMMON 934488107 726 10,500 SH SOLE 10,500
WASHINGTON MUTUAL INC COMMON 939322103 9864 278,850 SH SOLE 278,850
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
Column 1 Column 2 Column 3 Column 4 Column 5 Column 6 Column 7 Column 8
- ------------------------------------------------------------------------------------------------------------------------------------
Name of Issuer Title of CUSIP VALUE Shares or SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
Class X(1000) Prn Amt PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
WASTE CONNECTIONS INC COMMON 941053100 7469 244,900 SH SOLE 244,900
WATERS CORP COMMON 941848103 11156 210,000 SH SOLE 210,000
WATSON PHARMACEUTICAL INC COMMON 942683103 19907 567,750 SH SOLE 567,750
WEBSTER FINANCIAL WTBRY CT COMMON 947890109 7489 276,100 SH SOLE 276,100
WELLPOINT HEALTH NETWORKS COMMON 94973H108 2020 23,800 SH SOLE 23,800
WELLS FARGO & CO COMMON 949746101 6788 158,776 SH SOLE 158,776
WET SEAL INC CL A COMMON 961840105 10354 361,700 SH SOLE 361,700
WEYERHAEUSER CO COMMON 962166104 2038 29,637 SH SOLE 29,637
WINTRUST FINANCIAL CORP COMMON 97650W108 2610 148,100 SH SOLE 148,100
WORLDGATE COMMUNICATIONS INC COMMON 98156L307 9225 180,000 SH SOLE 180,000
XEROX CORP COMMON 984121103 35057 593,550 SH SOLE 593,550
</TABLE>
