UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
"WASHINGTON, DC 20549"
FORM 13F
FORM 13F COVER PAGE
REPORT FOR THE QUARTER ENDED: 31-Mar-00
INSTITUTIONAL INVESTMENT MANAGER FILING THIS REPORT:
Name: Friends Ivory & Sime Inc.
Address: "One World Trace Center, Suite 2101"
"New York, NY 10048"
13F File Number: 28-7734
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: Christopher Brancazio
Title: Compliance Director
Phone 212-466-6708
Signature Place Date of Signing
Christopher Brancazio New York 5/18/00
Report Type: (Check only one.):
[x] 13F Holdings Report.
[ ] 13 F Notice.
[ ] 13F Combination Report.
List of Other Managers Reporting for this Manager: 0
<PAGE>
FORM 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers: 0
Form 13F Information Table Entry Total:
Form 13F Information Table Value Total:
List of Other Included Managers:
No. 13F File Number Name
<PAGE>
<TABLE> <C> <C>
NAME OF ISSUER TITLE OF CLASS CUSIP (X$1000) PRN AMT S/P P/C INV
DSC MANAGERS SOLE SHARED NONE
ADECCO SA ADR 006754105 14641 1294 SH 0 0 0
ADVANCED INFO SVC PUB LT ADR 00753G103 72002 1075 SH 0 0 0
ADVANCED POLYMER SYS INC COMMON 00754G102 174900 875 SH 0 0
0
ADVANTA CORP MTN BE MTNF 7.000 00756QBG2 500000 477 0 0
0
AETNA INC COMMON 8117103 350 19 SH 0 0 0
AGRIBIOTECH INC NEV COMMON 8494106 15000 2 SH 0 0 0
ALCATEL ADR 013904305 22647 977 SH 0 0 0
ALCOA INC COMMON 13817101 385770 27100 SH 0 0 0
ALLEGHENY ENERGY INC COMMON 17361106 400 11 SH 0 0 0
ALLEGHENY TECHNOLOGIES I COMMON 01741R102 481 10 SH 0 0 0
ALLIANCE PHARMACEUTICAL COMMON 18773101 139900 2090 SH 0 0 0
ALLSTATE CORP COMMON 20002101 2225 53 SH 0 0 0
AMAZON COM INC COMMON 23135106 200 13 SH 0 0 0
AMEREN CORP COMMON 23608102 1400 43 SH 0 0 0
AMERICA ONLINE INC DEL COMMON 02364J104 622831 42002 SH 0 0
0
AMERICAN ELEC PWR INC COMMON 25537101 2237 67 SH 0 0 0
AMERICAN EXPRESS CO COMMON 25816109 13800 2055 SH 0 0 0
AMERICAN HOME PRODS CORP COMMON 26609107 3600 194 SH 0 0 0
AMERICAN INTL GROUP INC COMMON 26874107 686822 75207 SH 0 0
0
AMGEN INC COMMON 31162100 12200 749 SH 0 0 0
AMR CORP COMMON 1765106 600 19 SH 0 0 0
ANADARKO PETE CORP COMMON 32511107 2000 77 SH 0 0 0
ANGLOGOLD LTD DEPOSITORY 35128206 5400 130 SH 0 0 0
ANHEUSER BUSCH COS INC COMMON 35229103 4832 301 SH 0 0 0
APEX INC COMMON 37548104 39450 1465 SH 0 0 0
APPLIED MATLS INC COMMON 38222105 29370 2768 SH 0 0 0
ARIBA INC COMMON 04033V104 4340 910 SH 0 0 0
ASSOCIATES FIRST CAP COR CL A 46008108 1024 22 SH 0 0 0
AT&T CAP CORP MTNS BK EN MTNF 7.470 00206HXB5 150000 149 0
0 0
AT&T CORP COMMON 1957109 903596 50884 SH 0 0 0
AT&T CORP COM LIB GRP A 1957208 534304 31691 SH 0 0 0
AURORA BIOSCIENCES CORP COMMON 51920106 21931 896 SH 0 0 0
AUSTRALIA&NEW ZEALAND BK ADR 052528304 20068 632 SH 0 0 0
AUTOMATIC DATA PROCESSIN COMMON 53015103 30900 1491 SH 0 0
0
AVENTIS ADR 053561106 40969 2212 SH 0 0 0
AVX CORP NEW COMMON 2444107 100 8 SH 0 0 0
AXA ADR 054536107 23643 1695 SH 0 0 0
AZUL HLDGS INC COMMON 05500Q106 54197 257 SH 0 0 0
BANCO BILBAO VIZCAYA ARG ADR 05946K101 105734 1573 SH 0 0 0
BANCO DE GALICIA Y BUENO DEPOSITORY 59538207 177194 3588 SH 0
0 0
BANCO SANTANDER CENT HIS ADR 05964H105 198717 2136 SH 0 0 0
BANK NEW YORK INC COMMON 64057102 453540 18850 SH 0 0 0
BANK OF AMERICA CORP COMMON 60505104 5217 274 SH 0 0 0
BANK TOKYO-MITSUBISHI LT ADR 065379109 146139 2073 SH 0 0 0
BARCLAYS PLC ADR 06738E204 15596 1715 SH 0 0 0
BECTON DICKINSON & CO COMMON 75887109 20000 526 SH 0 0 0
BELL ATLANTIC CORP COMMON 77853109 3296 201 SH 0 0 0
BELLSOUTH CORP COMMON 79860102 451303 21155 SH 0 0 0
BEN & JERRYS HOMEMADE IN CL A 81465106 21040 706 SH 0 0 0
BESTFOODS COMMON 08658U101 277733 13001 SH 0 0 0
BIOGEN INC COMMON 90597105 300 21 SH 0 0 0
BIOMATRIX INC COMMON 09060P102 3800 92 SH 0 0 0
BOEING CO COMMON 97023105 800 30 SH 0 0 0
BP AMOCO P L C DEPOSITORY 55622104 4492 239 SH 0 0 0
BP PRUDHOE BAY RTY TR UNIT BEN IN 55630107 53900 566 SH 0 0
0
BRIDGESTONE CORP ADR 108441205 7572 1672 SH 0 0 0
BRINKER INTL INC COMMON 109641100 33745 1002 SH 0 0 0
BRISTOL MYERS SQUIBB CO COMMON 110122108 766803 44475 SH 0 0
0
BRITISH TELECOMMUNICATIO ADR 111021408 11558 2174 SH 0 0 0
BROKEN HILL PROPRIETARY ADR 112169602 34085 741 SH 0 0 0
BUCKEYE PARTNERS L P UNIT LTD PA 118230101 21100 549 SH 0 0
0
CANON INC ADR 138006309 103200 4450 SH 0 0 0
CAROLINA PWR & LT CO COMMON 144141108 1000 32 SH 0 0 0
CATHAY PAC AWYS LTD ADR 148906308 44827 332 SH 0 0 0
CEMEX S A DEPOSITORY 151290889 96830 2191 SH 0 0 0
CENTRAIS ELETRICAS BRASI DEPOSITORY 15234Q108 60535 578 SH 0
0 0
CENTRAL FD CDA LTD CL A 153501101 186000 651 SH 0 0 0
CHARTERED SEMICONDUCTOR ADR 16133R106 13577 1279 SH 0 0 0
CHASE MANHATTAN CORP NEW COMMON 16161A108 465254 40564 SH 0
0 0
CHASE MANHATTAN CORP NEW PFD 10.96% 16161A835 2900 74 0 0
0
CHELSEA GCA RLTY INC COMMON 163262108 1000 29 SH 0 0 0
CHEUNG KONG HLDGS LTD ADR 166744201 103643 1551 SH 0 0 0
CHEVRON CORPORATION COMMON 166751107 243935 22549 SH 0 0
0
CHINA TELECOM HONG KONG ADR 169428109 9423 1670 SH 0 0 0
CIGNA CORP DEB 7.400 125509BA6 110000 106 0 0 0
CISCO SYS INC COMMON 17275R102 2269368 175451 SH 0 0 0
CIT GROUP INC CL A 125577106 5700 111 SH 0 0 0
CITICORP NOTE 7.200 173034GW3 100000 98 0 0 0
CITICORP MTN SUB BE MTNF 7.000 17303MGW3 150000 145 0 0
0
CITIGROUP INC COMMON 172967101 1352727 80995 SH 0 0 0
CITY NATL CORP COMMON 178566105 27300 920 SH 0 0 0
CLEARNET COMMUNICATIONS CL A NON-VT 184902104 135000 5579 SH 0 0
0
CMGI INC COMMON 125750109 200 23 SH 0 0 0
COCA COLA CO COMMON 191216100 704320 33059 SH 0 0 0
COLES MYER LTD ADR 193870409 10738 343 SH 0 0 0
COLGATE PALMOLIVE CO COMMON 194162103 564280 31811 SH 0 0
0
COMPANHIA BRASILEIRA DE DEPOSITORY 20440T201 64790 2316 SH 0 0
0
COMPANHIA CERVEJARIA BRA DEPOSITORY 20440X103 105025 1707 SH 0
0 0
COMPANHIA ENERGETICA DE DEPOSITORY 204409601 77106 1348 SH 0 0
0
COMPANHIA ENERGETICA DE DEPOSITORY 204409809 10199 178 SH 0 0
0
COMPANHIA VALE DO RIO DO DEPOSITORY 204412100 184835 5063 SH 0
0 0
COMPANIA DE TELECOMUNICS DEPOSITORY 204449300 138607 3153 SH 0
0 0
COMPAQ COMPUTER CORP COMMON 204493100 13291 359 SH 0 0 0
COMPUTER ASSOC INTL INC COMMON 204912109 525 31 SH 0 0 0
CONSOLIDATED EDISON INC COMMON 209115104 1922 56 SH 0 0 0
CONSOLIDATED GRAPHICS IN COMMON 209341106 13200 170 SH 0 0
0
CORN PRODS INTL INC COMMON 219023108 630 15 SH 0 0 0
CORNING INC COMMON 219350105 2400 466 SH 0 0 0
COSTCO WHSL CORP NEW COMMON 22160K105 18800 988 SH 0 0 0
COTT CORP QUE COMMON 22163N106 3000 17 SH 0 0 0
COVAD COMMUNICATIONS GRO COMMON 222814204 4000 290 SH 0 0 0
COVANCE INC COMMON 222816100 850 9 SH 0 0 0
CRESCENT REAL ESTATE EQU COMMON 225756105 3700 65 SH 0 0 0
CROSS A T CO CL A 227478104 700 4 SH 0 0 0
CTS CORP COMMON 126501105 1000 57 SH 0 0 0
CVS CORP COMMON 126650100 170 6 SH 0 0 0
DBS GROUP HLDGS LTD ADR 23304Y100 12887 681 SH 0 0 0
DELL COMPUTER CORP COMMON 247025109 505201 27249 SH 0 0 0
DELPHI AUTOMOTIVE SYS CO COMMON 247126105 7015 112 SH 0 0 0
DESIGNER FIN TR TOPRS 250570207 64100 1811 0 0 0
DISNEY WALT CO COM DISNEY 254687106 46510 1919 SH 0 0 0
DIXIE GROUP INC SDCV 7.000 255519AA8 2251000 1531 PRN 0 0 0
DOMINION RES INC VA NEW COMMON 25746U109 698 27 SH 0 0 0
DST SYS INC DEL COMMON 233326107 19000 1234 SH 0 0 0
DU PONT E I DE NEMOURS & COMMON 263534109 550967 29167 SH 0
0 0
DUANE READE INC COMMON 263578106 24000 558 SH 0 0 0
DYNAMIC SCIENCES INTL IN COMMON 268006103 1000000 120 SH 0 0
0
E DIGITAL CORP COMMON 26841Y103 1000 10 SH 0 0 0
E M C CORP MASS COMMON 268648102 492550 62061 SH 0 0 0
EARTHGRAINS CO COMMON 270319106 384 6 SH 0 0 0
EASAI LTD. ADR 282579309 649 17 SH 0 0 0
ECHOSTAR COMMUNICATIONS CL A 278762109 200 16 SH 0 0 0
ECOGEN INC COM NEW 278864202 1000 3 SH 0 0 0
ECOSCIENCE CORP COM NEW 279218200 48100 36 SH 0 0 0
EDISON INTL COMMON 281020107 4000 66 SH 0 0 0
EEX CORP COM NEW 26842V207 153580 518 SH 0 0 0
ELAN PLC DEPOSITORY 284131208 2396 114 SH 0 0 0
ELECTROBRAS PF B BRL 2308445 46072 887 SH 0 0 0
ELECTRONIC DATA SYS NEW COMMON 285661104 2400 154 SH 0 0 0
ELEL SOCIETA ADR 29265W108 174 8 SH 0 0 0
ELF AQUITAINE ADR 286269105 26306 2285 SH 0 0 0
EMBOTELLADORA ANDINA S A DEPOSITORY 29081P303 111000 1311 SH 0
0 0
EMERSON ELEC CO COMMON 291011104 1120 60 SH 0 0 0
EMPRESA NACIONAL DE ELCT DEPOSITORY 29244T101 320967 3491 SH 0
0 0
ENRON CORP COMMON 293561106 513495 38448 SH 0 0 0
EQUANT ADR 294409107 92 8 SH 0 0 0
EQUITY OFFICE PROPERTIES COMMON 294741103 6830 172 SH 0 0 0
EQUITY RESIDENTIAL PPTYS SH BEN INT 29476L107 28115 1130 SH 0
0 0
ERICSSON L M TEL CO ADR 294821400 47866 4490 SH 0 0 0
EVEREST RE GROUP LTD COMMON G3223R108 20000 653 SH 0 0 0
EXXON MOBIL CORP COMMON 30231G102 1085211 84579 SH 0 0 0
FEDERAL NATL MTG ASSN COMMON 313586109 275292 15571 SH 0 0
0
FEDERATED DEPT STORES IN COMMON 31410H101 1740 74 SH 0 0 0
FEDEX CORP COMMON 31428X106 1200 47 SH 0 0 0
FELCOR LODGING TR INC COMMON 31430F101 20550 367 SH 0 0 0
FIRST HEALTH GROUP CORP COMMON 320960107 26400 835 SH 0 0 0
FIRST VA BANKS INC COMMON 337477103 1050 39 SH 0 0 0
FOMENTO ECONOMICO UNITS COMMON 2242059 1311770 5894 SH 0 0 0
FORD MOTOR CR CO NOTE 6.250 345397NJ8 150000 141 0 0 0
FORD MTR CO DEL COMMON 345370100 324522 14908 SH 0 0 0
FOSTERS BREWING GROUP LT ADR 350258307 195005 473 SH 0 0 0
FPL GROUP INC COMMON 302571104 412 19 SH 0 0 0
FRANCE TELECOM ADR 35177Q105 16366 2896 SH 0 0 0
FREEPORT-MCMORAN COPPER CL A 35671D105 2774 31 SH 0 0 0
FREEPORT-MCMORAN COPPER CL B 35671D857 701 8 SH 0 0 0
GAP INC DEL COMMON 364760108 1350 67 SH 0 0 0
GAP INC DEL NOTE 6.900 364760AA6 100000 97 0 0 0
GENERAL ELEC CO COMMON 369604103 960502 149478 SH 0 0 0
GENERAL MAGIC INC COMMON 370253106 3000 27 SH 0 0 0
GENERAL MTRS CORP COMMON 370442105 327 27 SH 0 0 0
GENERAL MTRS CORP CL H NEW 370442832 16 2 SH 0 0 0
GENERAL MTRS CORP PREF D 1/4 370442857 9340 234 0 0 0
GILLETTE CO COMMON 375766102 3164 119 SH 0 0 0
GLAXO WELLCOME PLC ADR 37733W105 38556 2210 SH 0 0 0
GLOBAL CROSSING LTD COMMON G3921A100 4350 178 SH 0 0 0
GPU INC COMMON 36225X100 79800 2185 SH 0 0 0
GREAT ATLANTIC & PAC TEA COMMON 390064103 1000 20 SH 0 0 0
GRUPO MEXICO SA SER B COMMON 2399502 384500 1798 SH 0 0 0
GRUPO TELEVISA SA DE CV DEPOSITORY 40049J206 62780 4269 SH 0 0
0
GTE CORP COMMON 362320103 591587 42003 SH 0 0 0
GTE SOUTH INC DEB 7.250 36233TAD1 150000 149 0 0 0
HARRIS CORP DEL COMMON 413875105 800 28 SH 0 0 0
HEALTH CARE PPTY INVS IN COMMON 421915109 79900 2032 SH 0 0
0
HECLA MNG CO PFD CV SER 422704205 49500 1225 SH 0 0 0
HEWLETT PACKARD CO COMMON 428236103 900 120 SH 0 0 0
HEXCEL CORP NEW NOTE 7.000 428291AA6 300000 206 PRN 0 0 0
HMH PPTYS INC NOTE 9.500 40423QAB3 500000 524 0 0 0
HOME DEPOT INC COMMON 437076102 1150813 74227 SH 0 0 0
HONDA MOTOR CO. LTD. ADR 438128308 136 11 SH 0 0 0
HONEYWELL INTL INC COMMON 438516106 554090 29194 SH 0 0 0
HONG KONG & CHINA GAS LT ADR 438550303 463665 581 SH 0 0 0
HONG KONG WEB WEB 92923H707 111021 1 SH 0 0 0
HSBC HLDGS PLC ADR 404280406 11679 711 SH 0 0 0
HUMBOLDT CAP CORP MULT VTG SH 444904205 408201 228 SH 0 0 0
HUMBOLDT CAP CORP SUB VTG SHS 444904304 408201 211 SH 0 0 0
HUTCHISON WHAMPOA LTD ADR 448415208 19830 1792 SH 0 0 0
I-CABLE COMMUNICATIONS L ADR 44934B104 24374 372 SH 0 0 0
ILLINOIS TOOL WKS INC COMMON 452308109 200 11 SH 0 0 0
IMATION CORP COMMON 45245A107 108 3 SH 0 0 0
IMC GLOBAL INC COMMON 449669100 599 9 SH 0 0 0
INDYMAC MTG HLDGS INC COMMON 456607100 2500 37 SH 0 0 0
ING GROEP N V ADR 456837103 31536 1734 SH 0 0 0
INTEL CORP COMMON 458140100 1045300 137914 SH 0 0 0
INTERNATIONAL BUSINESS M COMMON 459200101 540780 63812 SH 0
0 0
INTERNATIONAL BUSINESS M PFD A DEP 1 459200309 9075 231 0 0
0
INTL PAPER CO COMMON 460146103 5927 253 SH 0 0 0
INTRAWEST CORPORATION COM NEW 460915200 44900 758 SH 0 0 0
ITO YOKADO CO. LTD. ADR 465714301 172 13 SH 0 0 0
JOHNS MANVILLE CORP NEW COMMON 478129109 172500 1833 SH 0 0 0
JOHNSON & JOHNSON COMMON 478160104 478045 33583 SH 0 0 0
K MART CORP COMMON 482584109 4180 40 SH 0 0 0
KANSAS CITY PWR & LT CO COMMON 485134100 1400 41 SH 0 0 0
KAO CORP ADR 485537203 10570 3235 SH 0 0 0
KERR MCGEE CORP SDCV 7.500 492386AL1 2068000 1949 PRN 0 0 0
KIMBERLY CLARK MEX 'A' NPV 2491914 524600 1803 SH 0 0 0
KINAM GOLD INC PFD CV B $3 494482201 23500 604 SH 0 0 0
KINGFISHER PLC ADR 495724205 427 7 SH 0 0 0
KMART FING I PFD TRCV 7. 498778208 1000 43 SH 0 0 0
KONINKLIJKE PHILIPS ELEC ADR 500472204 6525 1117 SH 0 0 0
KOREA ELECTRIC PWR ADR 500631106 61494 972 SH 0 0 0
KOREA TELECOM ADR 50063P103 23135 1014 SH 0 0 0
KROGER CO COMMON 501044101 230 4 SH 0 0 0
KUALA LUMPUR KEPONG BERH ADR 501161202 101604 133 SH 0 0 0
LABONE INC NEW COMMON 50540L105 1000 7 SH 0 0 0
LECHTERS CORP COMMON 523238103 110000 179 SH 0 0 0
LECHTER'S INC SDCV 5.000 522999B91 4085000 3370 PRN 0 0 0
LEVI STRAUSS & CO NEW NOTE 6.800 52736RAA0 500000 328 0 0
0
LILLY ELI & CO COMMON 532457108 293 18 SH 0 0 0
LINCOLN NATL CORP IND NOTE 7.250 534187AH2 65000 63 0 0
0
LINENS N THINGS INC COMMON 535679104 21950 752 SH 0 0 0
LOUIS DREYFUS NAT GAS CO COMMON 546011107 27580 938 SH 0 0
0
LUCENT TECHNOLOGIES INC COMMON 549463107 307934 18861 SH 0 0
0
MACK CALI RLTY CORP COMMON 554489104 8000 204 SH 0 0 0
MAIL-WELL INC COMMON 560321200 20000 174 SH 0 0 0
MANDALAY RESORT GROUP MANDALAY 562567107 1200 20 SH 0 0 0
MARCONI PLC ADR 566306106 172533 2059 SH 0 0 0
MARINE DRILLING COS INC COM PAR $0. 568240204 500 14 SH 0 0 0
MARITRANS INC COMMON 570363101 3000 18 SH 0 0 0
MARRIOTT INTL INC NEW CL A 571903202 5095 160 SH 0 0 0
MASSBANK CORP READ MASS COMMON 576152102 5600 154 SH 0 0 0
MATSUSHITA ELECTRONIC ADR 576879209 50 15 SH 0 0 0
MBNA CORP COMMON 55262L100 150 4 SH 0 0 0
MCDONALDS CORP COMMON 580135101 1025265 38319 SH 0 0 0
MCI WORLDCOM INC COMMON 55268B106 1121263 50807 SH 0 0 0
MCKESSON HBOC INC COMMON 58155Q103 400 8 SH 0 0 0
MEDIAONE GROUP INC COMMON 58440J104 1780 144 SH 0 0 0
MEDTRONIC INC COMMON 585055106 569440 29291 SH 0 0 0
MELLON FINL CORP COMMON 58551A108 789038 23474 SH 0 0 0
MERCK & CO INC COMMON 589331107 669223 41575 SH 0 0 0
METAMOR WORLDWIDE INC COMMON 59133P100 18000 510 SH 0 0 0
MICROCIDE PHARMACEUTICAL COMMON 595018102 5200 68 SH 0 0 0
MICROSOFT CORP COMMON 594918104 1519095 161404 SH 0 0 0
MINERALS TECHNOLOGIES IN COMMON 603158106 6100 272 SH 0 0 0
MINNESOTA MNG & MFG CO COMMON 604059105 1180 105 SH 0 0 0
MODIS PROFESSIONAL SVCS COMMON 607830106 9800 121 SH 0 0 0
MORGAN J P & CO INC COMMON 616880100 7345 968 SH 0 0 0
MORGAN J P & CO INC NOTE 6.250 616880BJ8 120000 107 0 0
0
MORGAN STANLEY DEAN WITT COM NEW 617446448 522140 43272 SH 0
0 0
MORGAN STANLEY DEAN WITT NOTE 6.875 617446AZ2 120000 115 0
0 0
MUTUAL RISK MGMT LTD COMMON 628351108 26500 530 SH 0 0 0
NABORS INDS INC COMMON 629568106 16345 634 SH 0 0 0
NATIONAL AUSTRALIA BK LT ADR 632525408 8038 520 SH 0 0 0
NATIONAL-OILWELL INC COMMON 637071101 1800 56 SH 0 0 0
NESTLE S A ADR 641069406 23134 2063 SH 0 0 0
NEUROCRINE BIOSCIENCES I COMMON 64125C109 19600 456 SH 0 0
0
NEW WORLD DEV LTD ADR 649274305 204371 570 SH 0 0 0
NIKE INC CL B 654106103 1100 44 SH 0 0 0
NIPPON TELEG & TEL CORP ADR 654624105 46182 3640 SH 0 0 0
NISOURCE INC COMMON 65473P105 3387 57 SH 0 0 0
NOBLE DRILLING CORP COMMON 655042109 4000 166 SH 0 0 0
NOKIA CORP ADR 654902204 23752 5273 SH 0 0 0
NORFOLK SOUTHERN CORP COMMON 655844108 1000 14 SH 0 0 0
NORTEL NETWORKS CORP COMMON 656569100 566612 71464 SH 0 0
0
NTT DOCOMO INC. ADR 62942M201 211 43 SH 0 0 0
OAKLEY INC COMMON 673662102 1100 12 SH 0 0 0
OFFSHORE LOGISTICS INC NOTE 6.000 676255AF9 100000 89 PRN 0 0
0
OHM CORP SDCV 8.000 670839AA7 96000 84 PRN 0 0 0
OMEGA PROTEIN CORP COMMON 68210P107 35000 90 SH 0 0 0
OMNICOM GROUP INC COMMON 681919106 394080 36896 SH 0 0 0
ORACLE CORP COMMON 68389X105 1017520 79430 SH 0 0 0
ORBITAL ENGINE LTD DEPOSITORY 685563306 4000 28 SH 0 0 0
OREGON STL MLS INC COMMON 686079104 1000 4 SH 0 0 0
ORIX CORP ADR 686330101 24519 1998 SH 0 0 0
OUTBACK STEAKHOUSE INC COMMON 689899102 30800 988 SH 0 0 0
PARKER HANNIFIN CORP COMMON 701094104 300 12 SH 0 0 0
PATHEON INC COMMON 70319W108 100000 548 SH 0 0 0
PEPSICO INC COMMON 713448108 371411 12953 SH 0 0 0
PERUSAHAAN PERS INDO SAT DEPOSITORY 715680104 300 5 SH 0 0
0
PETROLEO BRASILEIRO SA P DEPOSITORY 71654V101 313830 8543 SH 0
0 0
PEUGEOT CITROEN ADR 716825500 243 13 SH 0 0 0
PFIZER INC COMMON 717081103 1381842 50524 SH 0 0 0
PG&E CORP COMMON 69331C108 950 20 SH 0 0 0
PHARMACOPEIA INC COMMON 71713B104 6000 294 SH 0 0 0
PHILIP MORRIS COS INC COMMON 718154107 131875 2786 SH 0 0 0
PHILIPPINE LONG DISTANCE ADR 718252604 13176 289 SH 0 0 0
PHOSPHATE RESOURCE PARTN DEPOSITARY 719217101 1000 8 SH 0 0
0
PITNEY BOWES INC COMMON 724479100 55 2 SH 0 0 0
PNC FINL SVCS GROUP INC COMMON 693475105 389 18 SH 0 0 0
POGO PRODUCING CO COMMON 730448107 20000 571 SH 0 0 0
POHANG IRON & STL LTD ADR 730450103 43014 1183 SH 0 0 0
POST PPTYS INC COMMON 737464107 3740 151 SH 0 0 0
PPG INDS INC COMMON 693506107 700 37 SH 0 0 0
PROCTER & GAMBLE CO COMMON 742718109 521110 29443 SH 0 0
0
PRUDENTIAL PLC ADR 74435K204 25852 1954 SH 0 0 0
PUGET SOUND ENERGY INC COMMON 745332106 66900 1484 SH 0 0 0
PURE WORLD INC COMMON 74622C106 1000 5 SH 0 0 0
QUALCOMM INC COMMON 747525103 350 52 SH 0 0 0
QUEST DIAGNOSTICS INC COMMON 74834L100 425 17 SH 0 0 0
QWEST COMMUNICATIONS INT COMMON 749121109 402400 19315 SH 0
0 0
R & B FALCON CORP COMMON 7.49E+105 3600 71 SH 0 0 0
R G S ENERGY GROUP INC COMMON 74956K104 1152 24 SH 0 0 0
RADIAN GROUP INC COMMON 750236101 11632 554 SH 0 0 0
RAYTHEON CO CL B 755111408 800 14 SH 0 0 0
RELIANT ENERGY INC COMMON 75952J108 9500 224 SH 0 0 0
REUTERS GROUP PLC ADR 76132M102 15634 1866 SH 0 0 0
REYNOLDS METALS CO COMMON 761763101 100 7 SH 0 0 0
RF MONOLITHICS INC COMMON 74955F106 25800 387 SH 0 0 0
RICOH CO. LTD. ADR 765658307 260 28 SH 0 0 0
ROC TAIWAN ADR 749651105 93713 925 SH 0 0 0
ROCHE HLDG LTD ADR 771195104 18310 1989 SH 0 0 0
ROWAN COS INC COMMON 779382100 2800 82 SH 0 0 0
ROYAL DUTCH PETE CO DEPOSITORY 780257804 2800 162 SH 0 0 0
RURAL CELLULAR CORP CL A 781904107 15300 1034 SH 0 0 0
SABRE HLDGS CORP CL A 785905100 433 16 SH 0 0 0
SANTA FE SNYDER CORP COMMON 80218K105 180 2 SH 0 0 0
SAP AKTIENGESELLSCHAFT ADR 803054204 31305 1870 SH 0 0 0
SARA LEE CORP COMMON 803111103 2525 45 SH 0 0 0
SBC COMMUNICATIONS INC COMMON 78387G103 1191249 50181 SH 0 0
0
SCHERING PLOUGH CORP COMMON 806605101 26684 991 SH 0 0 0
SCHLUMBERGER LTD COMMON 806857108 264468 20232 SH 0 0 0
SCHRODER VENTURE TRUST COMMON 625996103 1500 4 SH 0 0 0
SCOTTISH POWER PLC ADR 81013T705 173 5 SH 0 0 0
SCOTTISH PWR PLC DEPOSITORY 81013T705 464 15 SH 0 0 0
SEARS ROEBUCK & CO COMMON 812387108 680 21 SH 0 0 0
SEARS ROEBUCK & CO NOTE 6.250 812387BB3 295000 281 0 0 0
SECOM LTD ADR 813113206 11720 2011 SH 0 0 0
SERVICEMASTER CO COMMON 81760N109 10123 114 SH 0 0 0
SEVEN ELEVEN JAPAN LTD ADR 817828205 44621 5131 SH 0 0 0
SEVEN SEAS PETE INC COMMON 817917107 10000 20 SH 0 0 0
SHELL TRANS & TRADING PL ADR 822703609 42159 2069 SH 0 0 0
SIEMENS A G ADR 826197402 14571 2098 SH 0 0 0
SINGAPORE TELECOMMUNICAT ADR 82929R106 19540 279 SH 0 0 0
SLM HLDG CORP COMMON 78442A109 3300 110 SH 0 0 0
SMITHKLINE BEECHAM PLC DEPOSITORY 832378301 1300 86 SH 0 0 0
SMUCKER J M CO CL A 832696108 2640 48 SH 0 0 0
SMUCKER J M CO CL B 832696207 2640 38 SH 0 0 0
SOCIETE GENERALE FRANCE ADR 83364L109 50049 1996 SH 0 0 0
SOLECTRON CORP COMMON 834182107 17480 701 SH 0 0 0
SONIC AUTOMOTIVE INC CL A 83545G102 79200 747 SH 0 0 0
SONY CORP ADR 835699307 9747 2730 SH 0 0 0
SOUTHCORP LTD ADR 841295108 25450 368 SH 0 0 0
SOUTHERN CO COMMON 842587107 4400 96 SH 0 0 0
STARBUCKS CORP COMMON 855244109 15120 678 SH 0 0 0
SUMITOMO BANK LTD. ADR 865601207 95 14 SH 0 0 0
SUN MICROSYSTEMS INC COMMON 866810104 266150 24939 SH 0 0
0
SUNOCO INC COMMON 86764P109 2200 60 SH 0 0 0
SYMBOL TECHNOLOGIES INC COMMON 871508107 585 48 SH 0 0 0
TAIWAN SEMICONDUCTOR MFG ADR 874039100 42197 2405 SH 0 0 0
TALBOTS INC COMMON 874161102 1000 59 SH 0 0 0
TARGET CORP COMMON 8.76E+110 16330 1221 SH 0 0 0
TAUBMAN CTRS INC COMMON 876664103 4800 53 SH 0 0 0
TDK CORP ADR 872351408 1860 244 SH 0 0 0
TELE CENTRO SUL PART S A DEPOSITORY 879239101 22980 1861 SH 0
0 0
TELE NORTE LESTE PART S DEPOSITORY 879246106 131800 3509 SH 0 0
0
TELECOMUNICACOES DE SAO DEPOSITORY 87929A102 253670 7531 SH 0 0
0
TELEFONICA DE ARGENTINA DEPOSITORY 879378206 48335 1897 SH 0 0
0
TELEFONICA DEL PERU S A DEPOSITORY 879384105 123315 2096 SH 0 0
0
TELEFONICA S A ADR 879382208 43272 3218 SH 0 0 0
TELEFONOS DE MEXICO S A DEPOSITORY 879403780 277300 18475 SH 0
0 0
TELIGENT INC CL A 87959Y103 10520 703 SH 0 0 0
TELSTRA CORP LTD ADR 87969N204 41383 972 SH 0 0 0
TEXACO INC COMMON 881694103 2130 114 SH 0 0 0
TEXAS INSTRS INC COMMON 882508104 425940 68150 SH 0 0 0
TEXAS UTILS CO COMMON 882848104 4030 120 SH 0 0 0
TIME WARNER INC COMMON 887315109 599455 59946 SH 0 0 0
TIME WARNER TELECOM INC CL A 887319101 13700 1089 SH 0 0 0
TNT POST GROEP N V ADR 888742103 67061 1500 SH 0 0 0
TOPPAN PRTG LTD ADR 890747207 30952 1735 SH 0 0 0
TOYOTA DEB 5.100 8929902A9 100000 99 0 0 0
TOYOTA MOTOR CORP. ADR 892331307 161 17 SH 0 0 0
TRANSOCEAN SEDCO FOREX I ORD G90078109 17189 882 SH 0 0 0
TRENWICK GROUP INC COMMON 895290104 16500 233 SH 0 0 0
TROJAN TECHNOLOGIES INC COMMON 896924107 2000 10 SH 0 0 0
TUBOS DE ACERO DE MEXICO DEPOSITORY 898592506 116900 1914 SH 0
0 0
TYCO INTL LTD NEW COMMON 902124106 600 30 SH 0 0 0
U S FRANCHISE SYS INC CL A NEW 902956309 56680 283 SH 0 0 0
U S WEST INC NEW COMMON 91273H101 2927 213 SH 0 0 0
UNIBANCO UNITS 1 B & 1 COMMON 2000837 15960 865 SH 0 0 0
UNIBANCO-UNIAO DE BANCOS DEPOSITORY 9.05E+111 80490 2556 SH 0
0 0
UNILEVER PLC ADR 904767704 380 10 SH 0 0 0
UNION PLANTERS CORP COMMON 908068109 1500 46 SH 0 0 0
UNIQUE MOBILITY INC COMMON 909154106 49300 478 SH 0 0 0
UNITED TECHNOLOGIES CORP COMMON 913017109 464705 29364 SH 0
0 0
UNITRIN INC COMMON 913275103 1000 40 SH 0 0 0
UNOCAL CORP COMMON 915289102 1080 32 SH 0 0 0
URBAN SHOPPING CTRS INC COMMON 917060105 71995 2092 SH 0 0 0
USX MARATHON GROUP COM NEW 902905827 500 13 SH 0 0 0
VARITRONIX INTL LTD ADR 92224Q109 43711 508 SH 0 0 0
VERITAS SOFTWARE CO COMMON 923436109 183581 24049 SH 0 0
0
VETERINARY CTRS AMER INC COMMON 925514101 58550 805 SH 0 0
0
VETERINARY CTRS AMER INC SDCV 5.250 925514AB7 4940000 4113 PRN 0
0 0
VIGNETTE CORP COMMON 926734104 4500 721 SH 0 0 0
VNU NV ADR 92856P106 44202 2604 SH 0 0 0
VODAFONE AIRTOUCH PLC ADR 92857T107 126436 7025 SH 0 0 0
VODAFONE AIRTOUCH PLC DEPOSITORY 92857T107 3200 178 SH 0 0 0
WAL MART STORES INC COMMON 931142103 1572721 88859 SH 0 0
0
WALGREEN CO COMMON 931422109 24190 623 SH 0 0 0
WALMART DE MEXICO SER C COMMON 2196208 2010030 4635 SH 0 0 0
WARNER LAMBERT CO COMMON 934488107 274250 26791 SH 0 0 0
WASTE MGMT INC DEL COMMON 94106L109 4552 62 SH 0 0 0
WELLS FARGO & CO DEL NOTE 6.875 949740BZ6 100000 97 0 0
0
WELLS FARGO & CO NEW COMMON 949746101 1063246 43327 SH 0 0
0
WHX CORP PFD CV SER 929248201 2700 73 SH 0 0 0
WILLIAMS SONOMA INC COMMON 969904101 46325 1436 SH 0 0 0
WMC LTD ADR 928947100 37773 585 SH 0 0 0
WORLDPAGES COM INC COMMON 981922107 25000 241 SH 0 0 0
XEROX CORP COMMON 984121103 12698 330 SH 0 0 0
ZALE CORP NEW COMMON 988858106 21000 991 SH 0 0 0
TOTAL 70411866 2961023
</TABLE>
