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, 2000
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 Street
Suite 4000
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: Portfolio Manager & Co-Head
Phone: (213) 430-1858
Signature, Place, and Date of Signing:
Michael Baxter Los Angeles, California 90017 April 11, 2000
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: 227
Form 13F Information Table Value Total: $5598014
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 2620 213900 SH SOLE 99600 0 114300
GROUPE AB SA ADR 39944Q109 816 64700 SH SOLE 39200 0 25500
ADC TELECOMMUNICATIONS INC COMM 000886101 11493 237284 SH SOLE 14874 0 222410
AT&T CORP-LIBERTY MEDIA GROUP COMM 001957109 165477 2862310 SH SOLE 1969953 0 892357
AVT CORPORATION COMM 002420107 920 83200 SH SOLE 34200 0 49000
ABBOTT LABS COMM 002824100 2111 59481 SH SOLE 2536 0 56945
AETNA INC COMM 008117103 50456 952000 SH SOLE 677200 0 274800
ALCOA INC COMM 013817101 4257 59228 SH SOLE 43028 0 16200
ALLSTATE CORP COMM 020002101 107980 4644304 SH SOLE 3041987 0 1602317
ALLTEL CORP COMM 020039103 93007 1447588 SH SOLE 959570 0 488018
AMERICA ONLINE INC DEL COMM 02364J104 2599 40146 SH SOLE 7396 0 32750
AMERICAN COIN MERCHANDISING IN COMM 02516B108 1391 506100 SH SOLE 295000 0 211100
AMERICAN GEN CORP COMM 026351106 74689 1307474 SH SOLE 840099 0 467375
AMERICAN HOME PRODS CORP COMM 026609107 7261 139477 SH SOLE 130177 0 9300
AMERICAN INTL GROUP INC COMM 026874107 2036 18739 SH SOLE 9491 0 9248
AMGEN INC COMM 031162100 1252 20784 SH SOLE 746 0 20038
ANHEUSER BUSCH COS INC COMM 035229103 37238 579029 SH SOLE 510642 0 68387
AON CORP COMM 037389103 833 25908 SH SOLE 19125 0 6783
APPLIED MATLS INC COMM 038222105 5123 55092 SH SOLE 1116 0 53976
ASSOCIATES FIRST CAP CORP COMM 046008108 1890 90010 SH SOLE 61532 0 28478
ATLANTIC RICHFIELD CO COMM 048825103 1116 13498 SH SOLE 12000 0 1498
AVTEAM INC COMM 054527205 1538 482700 SH SOLE 221800 0 260900
BMC SOFTWARE INC COMM 055921100 10636 221306 SH SOLE 639 0 220667
BANK OF AMERICA CORP COMM 060505104 5110 100817 SH SOLE 17133 0 83684
BANK ONE CORPORATION COMM 06423A103 98340 2913798 SH SOLE 1892060 0 1021738
BAXTER INTL INC COMM 071813109 42782 695644 SH SOLE 276189 0 419455
BECTON DICKINSON & CO COMM 075887109 1580 59637 SH SOLE 1409 0 58228
BELL ATLANTIC CORP COMM 077853109 44704 729875 SH SOLE 438988 0 290887
BELLSOUTH CORP COMM 079860102 809 17224 SH SOLE 17224 0 0
BEVERLY ENTERPRISES INC COMM 087851309 658 191700 SH SOLE 49500 0 142200
BRISTOL MYERS SQUIBB CO COMM 110122108 7198 125742 SH SOLE 61556 0 64186
CBRL GROUP INC COMM 12489V106 626 66400 SH SOLE 0 0 66400
CBS CORPORATION COMM 12490K107 1746 30376 SH SOLE 12201 0 18175
CH ENERGY GROUP INC COMM 12541M102 319 10400 SH SOLE 2000 0 8400
CLECO CORPORATION COMM 12561W105 370 11200 SH SOLE 2600 0 8600
CMP GROUP INC COMM 125887109 4852 167700 SH SOLE 65300 0 102400
CMS ENERGY CORP COMM 125896100 42366 2259542 SH SOLE 1426942 0 832600
CSX CORP COMM 126408103 27225 1137339 SH SOLE 669939 0 467400
CABLE DESIGN TECHNOLOGIES CORP COMM 126924109 707 22700 SH SOLE 8600 0 14100
CADENCE DESIGN SYS INC COMM 127387108 2269 113456 SH SOLE 2459 0 110997
CARLISLE COS INC COMM 142339100 420 10400 SH SOLE 0 0 10400
CENTEX CORP COMM 152312104 1655 71400 SH SOLE 58200 0 13200
CENTRAL & SOUTH WEST CORP COMM 152357109 33363 1920200 SH SOLE 1274600 0 645600
CHASE MANHATTAN CORP NEW COMM 16161A108 3988 45846 SH SOLE 14523 0 31323
CHURCHILL DOWNS INC COMM 171484108 313 12100 SH SOLE 0 0 12100
CISCO SYS INC COMM 17275R102 7791 105832 SH SOLE 6466 0 99366
CITIGROUP INC COMM 172967101 6625 111351 SH SOLE 75687 0 35664
COMERICA INC COMM 200340107 752 18400 SH SOLE 18400 0 0
COMPUTER ASSOC INTL INC COMM 204912109 25967 454576 SH SOLE 15377 0 439199
CONAGRA INC COMM 205887102 1073 58812 SH SOLE 4317 0 54495
CONECTIV INC COMM 206829103 905 51900 SH SOLE 51900 0 0
CONOCO INC COMM 208251405 44617 1648696 SH SOLE 1318704 0 329992
CYTEC INDS INC COMM 232820100 545 18300 SH SOLE 18300 0 0
D R HORTON INC COMM 23331A109 991 74100 SH SOLE 30400 0 43700
DTE ENERGY CO COMM 233331107 74474 2513918 SH SOLE 1579618 0 934300
DANA CORP COMM 235811106 82061 2984040 SH SOLE 1971525 0 1012515
DELL COMPUTER CORP COMM 247025109 631 12108 SH SOLE 12108 0 0
DELPHI AUTOMOTIVE SYSTEMS COMM 247126105 37297 2313043 SH SOLE 1692020 0 621023
DISNEY WALT CO COMM 254687106 2186 54331 SH SOLE 54331 0 0
DOW CHEM CO COMM 260543103 84892 728687 SH SOLE 490187 0 238500
DYNEGY INC COMM 26816Q101 121828 2034719 SH SOLE 1466219 0 568500
EARTHGRAINS CO COMM 270319106 1082 71900 SH SOLE 18200 0 53700
EARTHLINK INC COMM 270321102 625 31654 SH SOLE 16150 0 15504
EASTMAN CHEM CO COMM 277432100 59538 1304955 SH SOLE 912055 0 392900
EASTMAN KODAK CO COMM 277461109 99540 1789499 SH SOLE 1228984 0 560515
EATON CORP COMM 278058102 3598 47000 SH SOLE 24000 0 23000
EDISON INTL COMM 281020107 38111 2292396 SH SOLE 1511696 0 780700
ENHANCE FINL SVCS GROUP INC COMM 293310108 2452 164900 SH SOLE 58300 0 106600
ENTERGY CORP NEW COMM 29364G103 9450 480000 SH SOLE 470300 0 9700
EXXON MOBIL CORPORATION COMM 30231G102 6577 83655 SH SOLE 55705 0 27950
FAIR ISAAC & CO INC COMM 303250104 896 22700 SH SOLE 0 0 22700
FEDERAL NATIONAL MORTGAGE ASSO COMM 313586109 100007 1777918 SH SOLE 1217045 0 560873
FEDEX CORPORATION COMM 31428X106 2149 55659 SH SOLE 1427 0 54232
FINISH LINE INC COMM 317923100 252 27500 SH SOLE 11500 0 16000
FIRST DATA CORP COMM 319963104 14901 335816 SH SOLE 1216 0 334600
FIRST MIDWEST BANCORP INC DEL COMM 320867104 1374 59600 SH SOLE 16400 0 43200
FIRST SEC CORP DEL COMM 336294103 21388 1820260 SH SOLE 1159060 0 661200
FIRST UN CORP COMM 337358105 78434 2233014 SH SOLE 1425780 0 807234
FIRSTSERVICE CORP COMM 33761N109 394 35700 SH SOLE 16100 0 19600
FLEET BOSTON FINANCIAL CORP. COMM 339030108 7596 209563 SH SOLE 178463 0 31100
FORD MTR CO DEL COMM 345370100 137091 2940298 SH SOLE 1991930 0 948368
FORTUNE BRANDS INC COMM 349631101 40275 1631402 SH SOLE 1136002 0 495400
FOX ENTERTAINMENT GROUP INC COMM 35138T107 15382 554329 SH SOLE 27681 0 526648
FRIEDMANS INC COMM 358438109 1995 319200 SH SOLE 132000 0 187200
GPU INC COMM 36225X100 17009 631435 SH SOLE 471935 0 159500
GTE CORP COMM 362320103 68796 970679 SH SOLE 597950 0 372729
GALILEO INTERNATIONAL COMM 363547100 959 42283 SH SOLE 1622 0 40661
GENERAL ELEC CO COMM 369604103 8598 54161 SH SOLE 1554 0 52607
GENERAL MTRS CORP COMM 370442105 137413 1678331 SH SOLE 1215831 0 462500
GENESCO INC COMM 371532102 552 43800 SH SOLE 17800 0 26000
GEORGIA PAC CORP COMM 373298108 75731 1970259 SH SOLE 1364179 0 606080
GEORGIA PAC CORP COMM 373298702 65367 2654502 SH SOLE 1739502 0 915000
GERBER SCIENTIFIC INC COMM 373730100 674 32600 SH SOLE 9500 0 23100
GLENBOROUGH RLTY TR INC COMM 37803P105 447 30200 SH SOLE 0 0 30200
HARLEYSVILLE GROUP INC COMM 412824104 2983 189400 SH SOLE 69400 0 120000
HARSCO CORP COMM 415864107 49224 1727183 SH SOLE 996529 0 730654
HAWK CORP COMM 420089104 1395 218900 SH SOLE 96300 0 122600
HEWLETT PACKARD CO COMM 428236103 3198 24460 SH SOLE 19338 0 5122
HOME DEPOT INC COMM 437076102 2251 33607 SH SOLE 1037 0 32570
HONEYWELL INTERNATIONAL INC COMM 438516106 26115 507100 SH SOLE 27834.25 0 479266.5
HORACE MANN EDUCATORS CORP NEW COMM 440327104 1974 115300 SH SOLE 44000 0 71300
HOUSEHOLD INTL INC COMM 441815107 75647 2079658 SH SOLE 1364282 0 715376
HUTCHINSON TECHNOLOGY INC COMM 448407106 1106 60400 SH SOLE 15800 0 44600
IBP INC COMM 449223106 608 43300 SH SOLE 43300 0 0
IHOP CORP NEW COMM 449623107 1722 116300 SH SOLE 42500 0 73800
INTEL CORP COMM 458140100 29826 234857 SH SOLE 5578 0 229279
INTERNATIONAL BUSINESS MACHS C COMM 459200101 31760 259269 SH SOLE 18641 0 240628
INTERNATIONAL PAPER CO COMM 460146103 125533 3128560 SH SOLE 2083640 0 1044920
INTERPUBLIC GROUP COS INC COMM 460690100 10821 225160 SH SOLE 660 0 224500
INTERSTATE BAKERIES CORP DEL N COMM 46072H108 1099 66400 SH SOLE 30800 0 35600
JDA SOFTWARE GROUP INC COMM 46612K108 1303 85800 SH SOLE 0 0 85800
JLG INDS INC COMM 466210101 305 34400 SH SOLE 0 0 34400
KEYCORP NEW COMM 493267108 31454 1677569 SH SOLE 1193869 0 483700
KILROY RLTY CORP COMM 49427F108 319 15300 SH SOLE 1700 0 13600
LENNAR CORP COMM 526057104 1264 60400 SH SOLE 15000 0 45400
LILLY ELI & CO COMM 532457108 15902 261762 SH SOLE 1071 0 260691
LINCOLN NATL CORP IND COMM 534187109 87305 2494445 SH SOLE 1669984 0 824461
LIZ CLAIBORNE INC COMM 539320101 482 10600 SH SOLE 10600 0 0
LOCKHEED MARTIN CORP COMM 539830109 78293 3750600 SH SOLE 2724428 0 1026172
LONGS DRUG STORES CORP COMM 543162101 328 15300 SH SOLE 0 0 15300
LUCENT TECHNOLOGIES INC COMM 549463107 14389 227500 SH SOLE 770 0 226730
MCI WORLDCOM INC COMM 55268B106 3915 92005 SH SOLE 48788 0 43217.5
MDU RES GROUP INC COMM 552690109 230 11500 SH SOLE 4000 0 7500
MAC-GRAY CORPORATION COMM 554153106 381 112900 SH SOLE 40300 0 72600
MANDALAY RESORT GROUP COMM 562567107 776 48900 SH SOLE 48900 0 0
MANULIFE FINANCIAL CORP COMM 56501R106 73690 5165557 SH SOLE 5021425 0 144132
MAXIM INTEGRATED PRODS INC COMM 57772K101 3495 56714 SH SOLE 7200 0 49514
MAY DEPT STORES CO COMM 577778103 55605 1905116 SH SOLE 1323836 0 581280
MCDONALDS CORP COMM 580135101 2325 61815 SH SOLE 21194 0 40621
MERCK & CO INC COMM 589331107 1334 20826 SH SOLE 19826 0 1000
MERITOR AUTOMOTIVE INC COMM 59000G100 25062 1597584 SH SOLE 1057184 0 540400
MERRILL LYNCH & CO INC COMM 590188108 1244 12000 SH SOLE 10000 0 2000
MICROSOFT CORP COMM 594918104 8665 83830 SH SOLE 2729 0 81101
MIDWAY GAMES INC COMM 598148104 647 47100 SH SOLE 27800 0 19300
MILLENNIUM CHEMICALS INC COMM 599903101 4941 260087 SH SOLE 166266 0 93821
MOLEX INC COMM 608554101 1768 34166 SH SOLE 11916.25 0 22250
MOLEX INC COMM 608554200 1247 34166 SH SOLE 11916.25 0 22250
MORGAN STANLEY GROUP INC COMM 617446448 1299 15448 SH SOLE 15448 0 0
MOTOROLA INC COMM 620076109 3856 26780 SH SOLE 8223 0 18557
MUTUAL RISK MGMT LTD COMM 628351108 1035 54500 SH SOLE 23100 0 31400
NICOR INC COMM 654086107 2002 60900 SH SOLE 53700 0 7200
NORFOLK SOUTHN CORP COMM 655844108 67900 4807136 SH SOLE 3250479 0 1556657
NORTHEAST UTILS COMM 664397106 541 25700 SH SOLE 25700 0 0
NORTHROP GRUMMAN CORP COMM 666807102 116233 2193080 SH SOLE 1587739 0 605341
OCCIDENTAL PETE CORP COMM 674599105 114298 5644374 SH SOLE 3697785 0 1946589
OHIO CAS CORP COMM 677240103 7123 448742 SH SOLE 199342 0 249400
OVERSEAS SHIPHOLDING GROUP INC COMM 690368105 1107 48300 SH SOLE 17600 0 30700
PECO ENERGY CO COMM 693304107 24878 670125 SH SOLE 665625 0 4500
PIMCO ADVISORS L P COMM 69338P102 745 19500 SH SOLE 19500 0 0
PPL CORPORATION COMM 69351T106 27706 1331223 SH SOLE 897875 0 433348
PACTIV CORPORATION COMM 695257105 55494 6481150 SH SOLE 4456934 0 2024216
PAYLESS SHOESOURCE INC COMM 704379106 1214 23900 SH SOLE 17700 0 6200
PENNEY J C INC COMM 708160106 38125 2563073 SH SOLE 1647106 0 915967
PEOPLES ENERGY CORP COMM 711030106 22696 832915 SH SOLE 506415 0 326500
PFIZER INC COMM 717081103 23139 633966 SH SOLE 23166 0 610800
PHELPS DODGE CORP COMM 717265102 24762 529672 SH SOLE 397672 0 132000
PHILIP MORRIS COS INC COMM 718154107 112672 5302237 SH SOLE 3724035 0 1578202
PHILLIPS PETE CO COMM 718507106 112826 2472906 SH SOLE 1646465 0 826441
PITTSTON CO COMM 725701106 3238 197800 SH SOLE 85500 0 112300
PLAYBOY ENTERPRISES INC COMM 728117201 668 38200 SH SOLE 31900 0 6300
PLAYBOY ENTERPRISES INC COMM 728117300 1487 69800 SH SOLE 27700 0 42100
POLARIS INDS INC COMM 731068102 1075 36000 SH SOLE 13700 0 22300
POLO RALPH LAUREN CORPORATION COMM 731572103 1525 75330 SH SOLE 1187 0 74143
PORTAL SOFTWARE INC COMM 736126103 1614 29360 SH SOLE 12230 0 17130
POTOMAC ELEC PWR CO COMM 737679100 1990 92303 SH SOLE 4470 0 87833
PUBLIC SVC CO N MEX COMM 744499104 289 18400 SH SOLE 4200 0 14200
PUBLIC SVC ENTERPRISE GROUP IN COMM 744573106 24423 820942 SH SOLE 639642 0 181300
PULTE CORP COMM 745867101 1148 56200 SH SOLE 10800 0 45400
QUIKSILVER INC COMM 74838C106 880 48900 SH SOLE 0 0 48900
RGS ENERGY GROUP INC COMM 74956K104 865 39900 SH SOLE 3300 0 36600
RADISYS CORP COMM 750459109 1181 19290 SH SOLE 7500 0 11790
RALCORP HLDGS INC NEW COMM 751028101 1139 74700 SH SOLE 28200 0 46500
REGIS CORP MINN COMM 758932107 333 22200 SH SOLE 0 0 22200
RELIASTAR FINL CORP COMM 75952U103 32116 1001680 SH SOLE 773070 0 228610
REYNOLDS METALS CO COMM 761763101 160031 2381863 SH SOLE 1633548 0 748315
ROCKWELL INTL CORP NEW COMM 773903109 31515 791602 SH SOLE 517102 0 274500
RUSSELL CORP COMM 782352108 34044 2347885 SH SOLE 1592585 0 755300
RYDER SYS INC COMM 783549108 15635 687272 SH SOLE 572172 0 115100
SBC COMMUNICATIONS INC COMM 78387G103 73460 1764822 SH SOLE 1127524 0 637298
SAFECO CORP COMM 786429100 63620 2494941 SH SOLE 1657441 0 837500
ST PAUL COS INC COMM 792860108 86922 2664298 SH SOLE 1718398 0 945900
SCANA CORP COMM 80589M102 41821 1747103 SH SOLE 1155685 0 591418
SEAGRAM LTD COMM 811850106 13948 229140 SH SOLE 740 0 228400
SEARS ROEBUCK & CO COMM 812387108 73047 2424798 SH SOLE 1597618 0 827180
SIGMA ALDRICH CORP COMM 826552101 745 29740 SH SOLE 26800 0 2940
SOUTHERN CO COMM 842587107 7601 350500 SH SOLE 277500 0 73000
SPRINT CORP (PCS GROUP) COMM 852061100 601 10000 SH SOLE 5000 0 5000
STONE & WEBSTER INC COMM 861572105 734 54900 SH SOLE 23900 0 31000
SUNOCO INC COMM 86764P109 19467 707921 SH SOLE 480421 0 227500
SYLVAN LEARNING SYS INC COMM 871399101 889 56500 SH SOLE 21500 0 35000
SYSCO CORP COMM 871829107 1157 32370 SH SOLE 30000 0 2370
T-HQ INC COMM 872443403 2818 157150 SH SOLE 64650 0 92500
TRW INC COMM 872649108 106897 1698469 SH SOLE 1212269 0 486200
TARGET CORPORATION COMM 87612E106 12894 167050 SH SOLE 18060 0 148990
TECH DATA CORP COMM 878237106 2393 83800 SH SOLE 34700 0 49100
TECUMSEH PRODS CO COMM 878895200 595 12900 SH SOLE 0 0 12900
TELLABS INC COMM 879664100 14787 248274 SH SOLE 16074 0 232200
TENNECO INC COMM 880349105 8167 1029030 SH SOLE 778638.4 0 250392
TEXACO INC COMM 881694103 28519 516779 SH SOLE 332879 0 183900
TEXAS INSTRS INC COMM 882508104 4222 25885 SH SOLE 4335 0 21550
TEXAS UTILS CO COMM 882848104 36370 1230306 SH SOLE 615897 0 614409
TIME WARNER INC COMM 887315109 2095 23119 SH SOLE 541 0 22578
TITAN INTL INC COMM 88830M102 1572 228700 SH SOLE 145700 0 83000
TOLL BROS INC COMM 889478103 2263 107800 SH SOLE 39500 0 68300
TOWER AUTOMOTIVE INC COMM 891707101 264 16500 SH SOLE 0 0 16500
TRINITY INDS INC COMM 896522109 227 10400 SH SOLE 3900 0 6500
TYCO INTERNATIONAL LTD COMM 902124106 16115 323117 SH SOLE 1317 0 321800
UCAR INTL INC COMM 90262K109 200 12500 SH SOLE 3800 0 8700
UGI CORP NEW COMM 902681105 511 25200 SH SOLE 4400 0 20800
USX-MARATHON GROUP COMM 902905827 88521 3505810 SH SOLE 2380084 0 1125726
USX-U S STL GROUP COMM 90337T101 94201 3835187 SH SOLE 2793487 0 1041700
ULTRAMAR DIAMOND SHAMROCK CORP COMM 904000106 60299 2480184 SH SOLE 1668684 0 811500
UNIONBANCAL CORP COMM 908906100 19388 728220 SH SOLE 487320 0 240900
US WEST INC COMM 91273H101 1628 22369 SH SOLE 12519 0 9850
UNIVERSAL CORP VA COMM 913456109 276 18400 SH SOLE 7500 0 10900
UNOVA INC COMM 91529B106 1197 88300 SH SOLE 25300 0 63000
VENTAS INC COMM 92276F100 1496 451900 SH SOLE 196900 0 255000
VETERINARY CENTERS OF AMERICA COMM 925514101 1255 93900 SH SOLE 0 0 93900
WASHINGTON FED INC COMM 938824109 4834 278263 SH SOLE 237123 0 41140
WASHINGTON MUT INC COMM 939322103 107887 4014404 SH SOLE 2625041 0 1389363
WASTE MGMT INC COMM 94106L109 38494 2786931 SH SOLE 1778123 0 1008808
WATSON PHARMACEUTICALS INC COMM 942683103 1777 47408 SH SOLE 801 0 46607
WELLS FARGO & CO COMM 949746101 1853 47300 SH SOLE 21000 0 26300
WEYERHAEUSER CO COMM 962166104 110503 1867013 SH SOLE 1203140 0 663873
WHIRLPOOL CORP COMM 963320106 51661 865530 SH SOLE 685830 0 179700
XEROX CORP COMM 984121103 109898 4137346 SH SOLE 2723903 0 1413443
ROYAL DUTCH PETE CO NY REG SHRS 780257804 1720 29754 SH SOLE 17439 0 12315
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