UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F
FORM 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: March 31, 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: Hotchkis and Wiley, A Divison of Merrill Lynch Asset Management, L.P.
Address: 725 South Figueroa
Suite 400
Los Angeles, California 90017
13F File Number:
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: Michael Baxter
Title: Managing Director
Phone: (213) 430-1858
Signature, Place, and Date of Signing:
Michael Baxter Los Angeles, California 90017 May 11, 1999
Hotchkis & Wiley ("H&W") is a division of Merrill Lynch Asset
Management, L.P.("MLAM"), which is an institutional investment manager
subject to reporting requirements under Section 13(f) of the
Securities Exchange Act of 1934 and the rules promulgated thereunder.
The Securities positions managed by H&W are reported herein, but are not
reported in the Form 13F filed by Fund Asset Management, L.P. on behalf
of itself and MLAM.
MLAM and H&W are indirect wholly-owned units of Merrill Lynch & Co., Inc.
The securities positions of H&W reported herein are also being reported on
behalf of ML&Co. which may be deemed to share with H&W investment
discretion with respect to such positions.
Report Type (Check only one.):
[X] 13F HOLDING REPORT.
[ ] 13F NOTICE.
[ ] 13F COMBINATION REPORT
I AM SIGNING THIS REPORT AS REQUIRED BY THE SECURITIES EXHCANGE
ACT OF 1934.
<PAGE>
FORM 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers: 0
Form 13F Information Table Entry Total: 298
Form 13F Information Table Value Total: $8257217
List of Other Included Managers:
NONE
<PAGE>
<TABLE>
<CAPTION>
FORM 13F INFORMATION TABLE
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Column 1 Column 2 Column 3 Column 4 Column 5 Column 6 Column 7 Column 8
- ------------------------------------------------------------------------------------------------------------------------------------
VALUE SHARES/ SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (X$1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE
- ------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- --------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
DENISON INTERNATIONAL PLC ADR 248335101 1883 150700 SH DEFINED 150700 0 0
DENISON INTERNATIONAL PLC ADR 248335101 3021 241700 SH SOLE 241700 0 0
GROUPE AB SA ADR 39944Q109 853 440500 SH DEFINED 440500 0 0
GROUPE AB SA ADR 39944Q109 1177 607980 SH SOLE 607980 0 0
AT&T CORP COMM 001957109 24175 319150 SH DEFINED 319150 0 0
AT&T CORP COMM 001957109 173455 2289847 SH SOLE 1732747 0 557100
ABBOTT LABS COMM 002824100 4143 84557 SH SOLE 81357 0 3200
ABRAXAS PETE CORP COMM 003830106 711 162600 SH SOLE 162600 0 0
ABRAXAS PETE CORP COMM 003830106 325 74500 SH DEFINED 74500 0 0
AIRNET SYS INC COMM 009417106 5527 384500 SH SOLE 384500 0 0
AIRNET SYS INC COMM 009417106 2331 162200 SH DEFINED 162200 0 0
ALBERTSONS INC COMM 013104104 1129 17733 SH SOLE 17733 0 0
ALLEGHENY TELEDYNE INC COMM 017415100 919 45000 SH DEFINED 45000 0 0
ALLEGHENY TELEDYNE INC COMM 017415100 218 10669 SH SOLE 10669 0 0
ALLSTATE CORP COMM 020002101 1534 39856 SH SOLE 19930 0 19926
ALLTEL CORP COMM 020039103 141537 2366367 SH SOLE 1792867 0 573500
ALLTEL CORP COMM 020039103 21472 359000 SH DEFINED 359000 0 0
AMERICA ONLINE INC DEL COMM 02364J104 1898 12240 SH SOLE 12240 0 0
AMERICAN COIN MERCHANDISING IN COMM 02516B108 3278 558100 SH SOLE 558100 0 0
AMERICAN COIN MERCHANDISING IN COMM 02516B108 2115 360000 SH DEFINED 360000 0 0
AMERICAN EXPRESS CO COMM 025816109 11992 117000 SH SOLE 42000 0 75000
AMERICAN EXPRESS CO COMM 025816109 5740 56000 SH DEFINED 56000 0 0
AMERICAN GEN CORP COMM 026351106 6779 86917 SH DEFINED 86917 0 0
AMERICAN GEN CORP COMM 026351106 77088 988320 SH SOLE 774434 0 213886
AMERICAN HOME PRODS CORP COMM 026609107 637 11300 SH DEFINED 11300 0 0
AMERICAN HOME PRODS CORP COMM 026609107 11117 197200 SH SOLE 174300 0 22900
AMERICAN INTL GROUP INC COMM 026874107 1458 15095 SH SOLE 1800 0 13295
ANHEUSER BUSCH COS INC COMM 035229103 59598 908165 SH SOLE 835665 0 72500
ANHEUSER BUSCH COS INC COMM 035229103 3445 52500 SH DEFINED 52500 0 0
AON CORP COMM 037389103 1371 24772 SH SOLE 2250 0 22522.5
APRIA HEALTHCARE GROUP INC COMM 037933108 471 52800 SH DEFINED 52800 0 0
APRIA HEALTHCARE GROUP INC COMM 037933108 1884 210900 SH SOLE 210900 0 0
APPLIED MATLS INC COMM 038222105 2008 47056 SH SOLE 47056 0 0
ASSOCIATES FIRST CAP CORP COMM 046008108 17299 408243 SH SOLE 344309 0 63934
ASSOCIATES FIRST CAP CORP COMM 046008108 1054 24890 SH DEFINED 24890 0 0
ATLANTIC RICHFIELD CO COMM 048825103 70579 1079603 SH SOLE 788505 0 291098
ATLANTIC RICHFIELD CO COMM 048825103 11438 174974 SH DEFINED 174974 0 0
AVTEAM INC COMM 054527205 3226 832600 SH SOLE 832600 0 0
AVTEAM INC COMM 054527205 1698 438200 SH DEFINED 438200 0 0
BANK NEW YORK INC COMM 064057102 1207 30000 SH SOLE 30000 0 0
BANK ONE CORPORATION COMM 06423A103 146258 2864327 SH SOLE 2167247 0 697080
BANK ONE CORPORATION COMM 06423A103 21643 423862 SH DEFINED 423862 0 0
BANKAMERICA CORPORATION COMM 06605F102 4509 75000 SH DEFINED 75000 0 0
BANKAMERICA CORPORATION COMM 06605F102 15972 265653 SH SOLE 130738 0 134915
BAXTER INTL INC COMM 071813109 7543 117300 SH DEFINED 117300 0 0
BAXTER INTL INC COMM 071813109 37026 575729 SH SOLE 379029 0 196700
BELL ATLANTIC CORP COMM 077853109 52135 965471 SH SOLE 648303 0 317168
BELL ATLANTIC CORP COMM 077853109 7207 133480 SH DEFINED 133480 0 0
BOEING CO COMM 097023105 345 10600 SH SOLE 10600 0 0
BRISTOL MYERS SQUIBB CO COMM 110122108 19071 142522 SH SOLE 127122 0 15400
BROWNING FERRIS INDS INC COMM 115885105 10249 360437 SH DEFINED 360437 0 0
BROWNING FERRIS INDS INC COMM 115885105 63394 2229311 SH SOLE 1684437 0 544874
CMAC INVT CORP COMM 125662106 2852 62100 SH SOLE 62100 0 0
CMP GROUP INC COMM 125887109 1834 97200 SH DEFINED 97200 0 0
CMP GROUP INC COMM 125887109 4314 228600 SH SOLE 228600 0 0
CMS ENERGY CORP COMM 125896100 117982 2435783 SH SOLE 1741983 0 693800
CMS ENERGY CORP COMM 125896100 18696 386000 SH DEFINED 386000 0 0
CSX CORP COMM 126408103 8221 198100 SH DEFINED 198100 0 0
CSX CORP COMM 126408103 50570 1218560 SH SOLE 801260 0 417300
CADENCE DESIGN SYS INC COMM 127387108 2539 85362 SH SOLE 85362 0 0
CAMBRIDGE TECHNOLOGY PARTNERS COMM 132524109 869 39300 SH DEFINED 39300 0 0
CAMBRIDGE TECHNOLOGY PARTNERS COMM 132524109 3212 145200 SH SOLE 145200 0 0
CANADIAN IMPERIAL BK COMM TORO COMM 136069101 28277 1145452 SH DEFINED 1145452 0 0
CANADIAN IMPERIAL BK COMM TORO COMM 136069101 20492 830108 SH SOLE 830108 0 0
CANANDAIGUA WINE INC COMM 137219200 3491 60400 SH SOLE 60400 0 0
CANANDAIGUA WINE INC COMM 137219200 1179 20400 SH DEFINED 20400 0 0
CARBIDE/GRAPHITE GROUP INC COMM 140777103 3808 258200 SH SOLE 258200 0 0
CARBIDE/GRAPHITE GROUP INC COMM 140777103 1896 128600 SH DEFINED 128600 0 0
CENTRAL & SOUTH WEST CORP COMM 152357109 60838 2217399 SH SOLE 1556399 0 661000
CENTRAL & SOUTH WEST CORP COMM 152357109 7397 269600 SH DEFINED 269600 0 0
CHASE MANHATTAN CORP NEW COMM 16161A108 2260 31833 SH SOLE 31833 0 0
CIRCUS CIRCUS ENTERPRISES INC COMM 172909103 435 38500 SH DEFINED 38500 0 0
CIRCUS CIRCUS ENTERPRISES INC COMM 172909103 1271 112400 SH SOLE 112400 0 0
CITIGROUP INC COMM 172967101 1947 39187 SH SOLE 39187 0 0
COASTAL BANCORP INC COMM 19041P105 536 30648 SH SOLE 30648.5 0 0
COMPUTER ASSOC INTL INC COMM 204912109 2219 52060 SH SOLE 52060 0 0
CONAGRA INC COMM 205887102 1331 42280 SH SOLE 42280 0 0
DTE ENERGY CO COMM 233331107 74739 1735621 SH SOLE 1096121 0 639500
DTE ENERGY CO COMM 233331107 14158 328800 SH DEFINED 328800 0 0
DANA CORP COMM 235811106 18061 441872 SH DEFINED 441872 0 0
DANA CORP COMM 235811106 120956 2959172 SH SOLE 2252072 0 707100
DEAN FOODS CO COMM 242361103 1559 38200 SH SOLE 38200 0 0
DEERE & CO COMM 244199105 8539 259744 SH SOLE 214944 0 44800
DEERE & CO COMM 244199105 2728 83000 SH DEFINED 83000 0 0
DILLARDS INC COMM 254067101 479 16890 SH SOLE 16890 0 0
DISNEY WALT CO COMM 254687106 1511 50379 SH SOLE 50379 0 0
DOW CHEM CO COMM 260543103 106999 1176634 SH SOLE 876034 0 300600
DOW CHEM CO COMM 260543103 15559 171100 SH DEFINED 171100 0 0
DU PONT E I DE NEMOURS & CO COMM 263534109 28596 538918 SH SOLE 404520 0 134398
DU PONT E I DE NEMOURS & CO COMM 263534109 3608 68000 SH DEFINED 68000 0 0
EASTERN ENTERPRISES COMM 27637F100 3088 70600 SH DEFINED 70600 0 0
EASTERN ENTERPRISES COMM 27637F100 27879 637242 SH SOLE 464642 0 172600
EASTMAN CHEM CO COMM 277432100 5723 127900 SH DEFINED 127900 0 0
EASTMAN CHEM CO COMM 277432100 53922 1204961 SH SOLE 845861 0 359100
EASTMAN KODAK CO COMM 277461109 136264 1892561 SH SOLE 1426961 0 465600
EASTMAN KODAK CO COMM 277461109 21009 291800 SH DEFINED 291800 0 0
EATON CORP COMM 278058102 14844 210000 SH SOLE 80000 0 130000
EATON CORP COMM 278058102 7068 100000 SH DEFINED 100000 0 0
EDISON INTL COMM 281020107 82857 2972476 SH SOLE 1994576 0 977900
EDISON INTL COMM 281020107 12097 434000 SH DEFINED 434000 0 0
ENTERGY CORP NEW COMM 29364G103 20480 658020 SH SOLE 627720 0 30300
ENTERGY CORP NEW COMM 29364G103 2231 71700 SH DEFINED 71700 0 0
EXECUTIVE RISK INC COMM 301586103 1840 33500 SH DEFINED 33500 0 0
EXECUTIVE RISK INC COMM 301586103 3493 63600 SH SOLE 63600 0 0
FDX CORPORATION COMM 31304N107 2266 25409 SH SOLE 25409 0 0
FEDERAL NATIONAL MORTGAGE ASSO COMM 313586109 148899 2012150 SH SOLE 1585750 0 426400
FEDERAL NATIONAL MORTGAGE ASSO COMM 313586109 22448 303360 SH DEFINED 303360 0 0
FIRST MIDWEST BANCORP INC DEL COMM 320867104 2074 54500 SH SOLE 54500 0 0
FIRST SEC CORP DEL COMM 336294103 9829 420500 SH DEFINED 420500 0 0
FIRST SEC CORP DEL COMM 336294103 28681 1227000 SH SOLE 659500 0 567500
FIRST UN CORP COMM 337358105 8961 147370 SH DEFINED 147370 0 0
FIRST UN CORP COMM 337358105 94156 1548313 SH SOLE 1263993 0 284320
FIRSTSERVICE CORP COMM 33761N109 1007 84400 SH SOLE 84400 0 0
FLEET FINL GROUP INC NEW COMM 338915101 8605 192576 SH SOLE 157776 0 34800
FLEET FINL GROUP INC NEW COMM 338915101 2770 62000 SH DEFINED 62000 0 0
FOOD LION INC COMM 344775200 1203 113256 SH SOLE 113256 0 0
FORD MTR CO DEL COMM 345370100 206810 3523957 SH SOLE 2690757. 0 833200
FORD MTR CO DEL COMM 345370100 29945 510260 SH DEFINED 510260 0 0
FORTUNE BRANDS INC COMM 349631101 65928 2084707 SH SOLE 1498907 0 585800
FORTUNE BRANDS INC COMM 349631101 11185 353700 SH DEFINED 353700 0 0
FOX ENTERTAINMENT GROUP INC COMM 35138T107 2708 107800 SH SOLE 107800 0 0
FRIEDMANS INC COMM 358438109 5168 504200 SH SOLE 504200 0 0
FRIEDMANS INC COMM 358438109 1594 155600 SH DEFINED 155600 0 0
GATX CORP COMM 361448103 5030 132820 SH DEFINED 132820 0 0
GATX CORP COMM 361448103 19039 502700 SH SOLE 260100 0 242600
GPU INC COMM 36225X100 10744 243155 SH DEFINED 243155 0 0
GPU INC COMM 36225X100 37871 857074 SH SOLE 565574 0 291500
GTE CORP COMM 362320103 13220 203390 SH DEFINED 203390 0 0
GTE CORP COMM 362320103 71205 1095462 SH SOLE 811324 0 284138
GENERAL ELEC CO COMM 369604103 5257 51544 SH SOLE 51544 0 0
GENERAL MTRS CORP COMM 370442105 161738 2260121 SH SOLE 1687321 0 572800
GENERAL MTRS CORP COMM 370442105 22728 317600 SH DEFINED 317600 0 0
GEORGIA PAC CORP COMM 373298108 65468 1117934 SH SOLE 804844 0 313090
GEORGIA PAC CORP COMM 373298108 11044 188600 SH DEFINED 188600 0 0
GEORGIA PAC CORP COMM 373298702 55958 2350005 SH SOLE 1686105 0 663900
GEORGIA PAC CORP COMM 373298702 11317 475300 SH DEFINED 475300 0 0
HARLEYSVILLE GROUP INC COMM 412824104 526 20400 SH DEFINED 20400 0 0
HARLEYSVILLE GROUP INC COMM 412824104 5428 210300 SH SOLE 90300 0 120000
HARSCO CORP COMM 415864107 10941 359495 SH DEFINED 359495 0 0
HARSCO CORP COMM 415864107 54446 1788828 SH SOLE 1193674 0 595154
HAWK CORP COMM 420089104 469 56100 SH DEFINED 56100 0 0
HAWK CORP COMM 420089104 1837 219400 SH SOLE 219400 0 0
HEALTHPLAN SVCS CORP COMM 421959107 2403 209000 SH DEFINED 209000 0 0
HEALTHPLAN SVCS CORP COMM 421959107 5088 442500 SH SOLE 442500 0 0
HONEYWELL INC COMM 438506107 2086 27708 SH SOLE 27708 0 0
HORACE MANN EDUCATORS CORP NEW COMM 440327104 1273 44700 SH SOLE 44700 0 0
HOUSEHOLD INTL INC COMM 441815107 99115 2501348 SH SOLE 1814840. 0 686508.5
HOUSEHOLD INTL INC COMM 441815107 16066 405473 SH DEFINED 405473 0 0
ILLINOVA CORP COMM 452317100 17007 680300 SH DEFINED 680300 0 0
ILLINOVA CORP COMM 452317100 123614 4944588 SH SOLE 3647088 0 1297500
INACOM CORP COMM 45323G109 2812 189060 SH DEFINED 189060 0 0
INACOM CORP COMM 45323G109 6084 409048 SH SOLE 409048 0 0
INTEL CORP COMM 458140100 3316 27971 SH SOLE 27971 0 0
INTERNATIONAL BUSINESS MACHS C COMM 459200101 3525 19119 SH SOLE 19119 0 0
INTERNATIONAL PAPER CO COMM 460146103 96233 2147500 SH SOLE 1583649 0 563851
INTERNATIONAL PAPER CO COMM 460146103 14214 317199 SH DEFINED 317199 0 0
INTERSTATE BAKERIES CORP DEL N COMM 46072H108 2709 102500 SH SOLE 102500 0 0
INTERSTATE BAKERIES CORP DEL N COMM 46072H108 1089 41200 SH DEFINED 41200 0 0
INTIMATE BRANDS INC COMM 461156101 12629 422757 SH SOLE 381457 0 41300
INTIMATE BRANDS INC COMM 461156101 1404 47000 SH DEFINED 47000 0 0
J & J SNACK FOODS CORP COMM 466032109 5853 261600 SH SOLE 261600 0 0
J & J SNACK FOODS CORP COMM 466032109 2148 96000 SH DEFINED 96000 0 0
JOHNSON & JOHNSON COMM 478160104 4185 49904 SH SOLE 47904 0 2000
KEYCORP NEW COMM 493267108 4742 148200 SH DEFINED 148200 0 0
KEYCORP NEW COMM 493267108 38926 1216464 SH SOLE 955664 0 260800
LIMITED INC COMM 532716107 1344 46174 SH SOLE 46174 0 0
LINCOLN NATL CORP IND COMM 534187109 86669 1059373 SH SOLE 785573 0 273800
LINCOLN NATL CORP IND COMM 534187109 12869 157300 SH DEFINED 157300 0 0
LOCKHEED MARTIN CORP COMM 539830109 220579 2602704 SH SOLE 1976384 0 626320
LOCKHEED MARTIN CORP COMM 539830109 39340 464200 SH DEFINED 464200 0 0
MAC-GRAY CORPORATION COMM 554153106 1992 175200 SH SOLE 175200 0 0
MAC-GRAY CORPORATION COMM 554153106 480 42200 SH DEFINED 42200 0 0
MAXIM INTEGRATED PRODS INC COMM 57772K101 1865 42697 SH SOLE 42697 0 0
MAY DEPT STORES CO COMM 577778103 8521 141150 SH DEFINED 141150 0 0
MAY DEPT STORES CO COMM 577778103 102442 1696773 SH SOLE 1394073 0 302700
MERCK & CO INC COMM 589331107 3392 23000 SH SOLE 0 0 23000
MERRILL LYNCH & CO INC COMM 590188108 734 11000 SH SOLE 2000 0 9000
MICROSOFT CORP COMM 594918104 11285 81374 SH SOLE 81374 0 0
MIDWAY GAMES INC COMM 598148104 869 79000 SH DEFINED 79000 0 0
MIDWAY GAMES INC COMM 598148104 2806 255100 SH SOLE 255100 0 0
MILLENNIUM CHEMICALS INC COMM 599903101 6244 314166 SH SOLE 229938 0 84228
MILLENNIUM CHEMICALS INC COMM 599903101 419 21126 SH DEFINED 21126 0 0
MOLEX INC COMM 608554101 1042 27334 SH SOLE 2856 0 24478.25
MOLEX INC COMM 608554200 871 27334 SH SOLE 2856 0 24478.25
MONSANTO CO COMM 611662107 546 11500 SH SOLE 0 0 11500
MOTOROLA INC COMM 620076109 2008 32890 SH SOLE 32890 0 0
NICOR INC COMM 654086107 6198 146700 SH SOLE 100500 0 46200
NORFOLK SOUTHN CORP COMM 655844108 93862 2962166 SH SOLE 2147209 0 814957
NORFOLK SOUTHN CORP COMM 655844108 16005 505100 SH DEFINED 505100 0 0
NORTHROP GRUMMAN CORP COMM 666807102 150522 2058429 SH SOLE 1634429 0 424000
NORTHROP GRUMMAN CORP COMM 666807102 25491 348600 SH DEFINED 348600 0 0
OCCIDENTAL PETE CORP COMM 674599105 16292 965500 SH DEFINED 965500 0 0
OCCIDENTAL PETE CORP COMM 674599105 108588 6434868 SH SOLE 4846768 0 1588100
OHIO CAS CORP COMM 677240103 10409 253111 SH SOLE 128411 0 124700
OHIO CAS CORP COMM 677240103 1982 48200 SH DEFINED 48200 0 0
PECO ENERGY CO COMM 693304107 3360 80500 SH DEFINED 80500 0 0
PECO ENERGY CO COMM 693304107 41002 982085 SH SOLE 921885 0 60200
P P & L RES INC COMM 693499105 7240 259764 SH DEFINED 259764 0 0
P P & L RES INC COMM 693499105 38469 1380082 SH SOLE 1078944 0 301138
PPG INDS INC COMM 693506107 802 13800 SH SOLE 500 0 13300
PACIFICORP COMM 695114108 28867 1370580 SH SOLE 1103680 0 266900
PACIFICORP COMM 695114108 2647 125700 SH DEFINED 125700 0 0
PAYLESS SHOESOURCE INC COMM 704379106 2927 61800 SH SOLE 61800 0 0
PAYLESS SHOESOURCE INC COMM 704379106 686 14500 SH DEFINED 14500 0 0
PENNEY J C INC COMM 708160106 129441 2761429 SH SOLE 2073829 0 687600
PENNEY J C INC COMM 708160106 17850 380800 SH DEFINED 380800 0 0
PEOPLES ENERGY CORP COMM 711030106 35317 885715 SH SOLE 638215 0 247500
PEOPLES ENERGY CORP COMM 711030106 4745 119000 SH DEFINED 119000 0 0
PHELPS DODGE CORP COMM 717265102 4242 83400 SH DEFINED 83400 0 0
PHELPS DODGE CORP COMM 717265102 34227 672782 SH SOLE 536082 0 136700
PHILIP MORRIS COS INC COMM 718154107 294256 5500114 SH SOLE 4258864 0 1241250
PHILIP MORRIS COS INC COMM 718154107 52016 972275 SH DEFINED 972275 0 0
PHILLIPS PETE CO COMM 718507106 147068 3450291 SH SOLE 2600091 0 850200
PHILLIPS PETE CO COMM 718507106 21130 495740 SH DEFINED 495740 0 0
PITTSTON CO COMM 725701106 1510 47400 SH SOLE 47400 0 0
PLAYBOY ENTERPRISES INC COMM 728117300 1603 76600 SH SOLE 76600 0 0
PLAYBOY ENTERPRISES INC COMM 728117300 349 16700 SH DEFINED 16700 0 0
PUBLIC SVC ENTERPRISE GROUP IN COMM 744573106 49741 1243548 SH SOLE 992848 0 250700
PUBLIC SVC ENTERPRISE GROUP IN COMM 744573106 3836 95900 SH DEFINED 95900 0 0
RADISYS CORP COMM 750459109 6378 212600 SH SOLE 212600 0 0
RADISYS CORP COMM 750459109 2433 81100 SH DEFINED 81100 0 0
RALCORP HLDGS INC NEW COMM 751028101 2721 149100 SH SOLE 149100 0 0
RALCORP HLDGS INC NEW COMM 751028101 310 17000 SH DEFINED 17000 0 0
REYNOLDS METALS CO COMM 761763101 19080 362142 SH DEFINED 362142 0 0
REYNOLDS METALS CO COMM 761763101 133468 2533231 SH SOLE 1919231 0 614000
ROCKWELL INTL CORP NEW COMM 773903109 11251 231700 SH DEFINED 231700 0 0
ROCKWELL INTL CORP NEW COMM 773903109 53833 1108561 SH SOLE 717061 0 391500
RUSSELL CORP COMM 782352108 8169 402200 SH DEFINED 402200 0 0
RUSSELL CORP COMM 782352108 54496 2682983 SH SOLE 2013583 0 669400
RYDER SYS INC COMM 783549108 27606 1061794 SH SOLE 851694 0 210100
RYDER SYS INC COMM 783549108 1497 57600 SH DEFINED 57600 0 0
SBC COMMUNICATIONS INC COMM 78387G103 14301 266688 SH DEFINED 266688 0 0
SBC COMMUNICATIONS INC COMM 78387G103 99366 1852988 SH SOLE 1385442 0 467546
SAFECO CORP COMM 786429100 16409 382165 SH DEFINED 382165 0 0
SAFECO CORP COMM 786429100 104222 2427327 SH SOLE 1801927 0 625400
ST PAUL COS INC COMM 792860108 77093 2214580 SH SOLE 1584880 0 629700
ST PAUL COS INC COMM 792860108 12880 370000 SH DEFINED 370000 0 0
SCANA CORP COMM 805898103 14154 438900 SH DEFINED 438900 0 0
SCANA CORP COMM 805898103 72475 2247308 SH SOLE 1582608 0 664700
SEARS ROEBUCK & CO COMM 812387108 69020 1624004 SH SOLE 1137204 0 486800
SEARS ROEBUCK & CO COMM 812387108 13442 316300 SH DEFINED 316300 0 0
SEIBELS BRUCE GROUP INC COMM 816006209 227 67500 SH SOLE 67500 0 0
SIGMA ALDRICH CORP COMM 826552101 873 29740 SH SOLE 4000 0 25740
SOUTHERN CO COMM 842587107 2266 78000 SH DEFINED 78000 0 0
SOUTHERN CO COMM 842587107 12583 433000 SH SOLE 345000 0 88000
STERLING COMM INC COMM 859205106 2858 63531 SH SOLE 63531 0 0
STONERIDGE INCORPORATED COMM 86183P102 1130 49700 SH DEFINED 49700 0 0
STONERIDGE INCORPORATED COMM 86183P102 2372 104300 SH SOLE 104300 0 0
SUN MICROSYSTEMS INC COMM 866810104 1995 23307 SH SOLE 23307 0 0
SYSCO CORP COMM 871829107 960 35000 SH SOLE 0 0 35000
TIG HLDGS INC COMM 872469101 10922 701900 SH DEFINED 701900 0 0
TIG HLDGS INC COMM 872469101 61469 3949948 SH SOLE 3111448 0 838500
TRW INC COMM 872649108 62861 1121290 SH SOLE 859290 0 262000
TRW INC COMM 872649108 10449 186400 SH DEFINED 186400 0 0
TENNECO INC NEW COMM 88037E101 142936 4196363 SH SOLE 3297063 0 899300
TENNECO INC NEW COMM 88037E101 22741 667640 SH DEFINED 667640 0 0
TEXACO INC COMM 881694103 8692 164000 SH DEFINED 164000 0 0
TEXACO INC COMM 881694103 41324 779700 SH SOLE 566100 0 213600
TEXAS UTILS CO COMM 882848104 47080 1008434 SH SOLE 702869 0 305565
TEXAS UTILS CO COMM 882848104 10562 226234 SH DEFINED 226234 0 0
TITAN INTL INC COMM 88830M102 251 26500 SH DEFINED 26500 0 0
TITAN INTL INC COMM 88830M102 1664 175200 SH SOLE 175200 0 0
TOTAL RENAL CARE HLDGS INC COMM 89151A107 6320 213800 SH SOLE 213800 0 0
TOTAL RENAL CARE HLDGS INC COMM 89151A107 2276 77000 SH DEFINED 77000 0 0
TRANSAMERICA CORP COMM 893485102 143991 1246678 SH SOLE 909378 0 337300
TRANSAMERICA CORP COMM 893485102 22799 197400 SH DEFINED 197400 0 0
TUPPERWARE CORP COMM 899896104 11471 697905 SH SOLE 582505 0 115400
TUPPERWARE CORP COMM 899896104 672 40900 SH DEFINED 40900 0 0
UCAR INTL INC COMM 90262K109 703 39500 SH SOLE 39500 0 0
USX-MARATHON GROUP COMM 902905827 14345 476200 SH DEFINED 476200 0 0
USX-MARATHON GROUP COMM 902905827 102600 3405841 SH SOLE 2687841 0 718000
UST INC COMM 902911106 422 12115 SH SOLE 12115 0 0
USEC INC COMM 90333E108 2488 179370 SH SOLE 149370 0 30000
USX-U S STL GROUP COMM 90337T101 104916 4561582 SH SOLE 3469782 0 1091800
USX-U S STL GROUP COMM 90337T101 16396 712900 SH DEFINED 712900 0 0
ULTRAMAR DIAMOND SHAMROCK CORP COMM 904000106 57830 2384762 SH SOLE 1674362 0 710400
ULTRAMAR DIAMOND SHAMROCK CORP COMM 904000106 10851 447500 SH DEFINED 447500 0 0
UNION CAMP CORP COMM 905530101 96183 1432906 SH SOLE 1030456 0 402450
UNION CAMP CORP COMM 905530101 16600 247300 SH DEFINED 247300 0 0
UNIONBANCAL CORP COMM 908906100 26214 769600 SH SOLE 571900 0 197700
UNIONBANCAL CORP COMM 908906100 4305 126400 SH DEFINED 126400 0 0
US WEST INC COMM 91273H101 29667 459079 SH SOLE 263899 0 195180
US WEST INC COMM 91273H101 7690 119000 SH DEFINED 119000 0 0
VLASIC FOODS INTERNATIONAL COMM 928559103 5645 237100 SH SOLE 237100 0 0
VLASIC FOODS INTERNATIONAL COMM 928559103 976 41000 SH DEFINED 41000 0 0
WASHINGTON FED INC COMM 938824109 7363 275913 SH SOLE 238513 0 37400
WASHINGTON MUT INC COMM 939322103 120898 3150440 SH SOLE 2336368 0 814072
WASHINGTON MUT INC COMM 939322103 15282 398232 SH DEFINED 398232 0 0
WASTE MGMT INC COMM 94106L109 83778 1796856 SH SOLE 1412979. 0 383877
WASTE MGMT INC COMM 94106L109 12770 273908 SH DEFINED 273908.5 0 0
WELLS FARGO & CO COMM 949746101 2210 55360 SH SOLE 5000 0 50360
WESTVACO CORP COMM 961548104 1474 55000 SH SOLE 0 0 55000
WEYERHAEUSER CO COMM 962166104 137560 2707252 SH SOLE 2030552 0 676700
WEYERHAEUSER CO COMM 962166104 20825 409850 SH DEFINED 409850 0 0
WHIRLPOOL CORP COMM 963320106 132629 2395123 SH SOLE 1801423 0 593700
WHIRLPOOL CORP COMM 963320106 20272 366100 SH DEFINED 366100 0 0
XEROX CORP COMM 984121103 4486 38022 SH SOLE 3000 0 35022
ROYAL DUTCH PETE CO NY REG SHRS 780257804 1575 32904 SH SOLE 4160 0 28744
</TABLE>
