Market Shares of
Class Cusip Value (in Prin (a) Sole
Name of Issuer Title Number "$1,000)" Amount
SANTA FE INTL COM G7805C108 "1,016" "22,543" X
AT&T COM 001957109 264 "8,977" X
AXA FINL COM 002451102 "1,339" "26,285" X
ACXIOM COM 005125109 "1,495" "47,085" X
AGILENT TECHNOLOGIES COM 00846U101 473 "9,658" X
ALTERA COM 021441100 237 "4,970" X
AMERICA ONLINE COM 02364J104 "1,771" "32,942" X
AMERICAN EXPRESS COM 025816109 823 "13,550" X
AMERICAN PWR CONVERSION COM 029066107 598 "31,160" X
AMRESCO CAPITAL COM 031919103 269 "25,000" X
AMSOUTH BANCORP COM 032165102 205 "16,435" X
ANHEUSER BUSCH COM 035229103 "1,185" "28,000" X
AUTOMATIC DATA PROCESSING COM 053015103 655 "9,800" X
AUTOZONE COM 053332102 "1,462" "64,426" X
AVOCENT COM 053893103 "1,115" "20,228" X
BB&T COM 054937107 241 "8,000" X
BANK OF AMERICA COM 060505104 "1,513" "28,880" X
BANK ONE COM 06423A103 212 "5,500" X
BELLSOUTH COM 079860102 "1,230" "30,568" X
BOSTON PRIVATE FINL COM 101119105 165 "10,000" X
BRISTOL MYERS SQUIBB COM 110122108 304 "5,327" X
BUCKEYE TECHNOLOGIES COM 118255108 "1,525" "73,515" X
CENTURY SOUTH BANKS COM 156683104 184 "10,000" X
CHASE MANHATTAN COM 16161A108 268 "5,800" X
CISCO SYSTEMS COM 17275R102 762 "13,790" X
CITIGROUP COM 172967101 335 "6,200" X
COASTAL BANCORP COM 19041P105 501 "28,000" X
COCA COLA COM 191216100 "1,308" "23,735" X
COMMUNITY FINL COM 20365M108 116 "10,000" X
COMPASS BANCSHARES COM 20449H109 594 "30,471" X
COMPAQ COMPUTER COM 204493100 391 "14,159" X
COMPUTER SCIENCES COM 205363104 833 "11,225" X
CONCORD EFS COM 206197105 "5,538" "155,944" X
CREE COM 225447101 "3,675" "31,611" X
CULLEN FROST BANKERS COM 229899109 244 "7,500" X
DELL COMPUTER COM 247025109 704 "22,835" X
DOLLAR GENERAL COM 256669102 "1,625" "97,041" X
DYCOM INDS COM 267475101 "2,290" "55,017" X
EGL COM 268484102 "2,269" "75,023" X
EMC COM 268648102 "2,168" "21,870" X
EDWARDS AG COM 281760108 293 "5,600" X
ELECTRONIC DATA SYSTEMS COM 285661104 "1,143" "27,548" X
EMULEX COM 292475209 937 "7,650" X
ENRON COM 293561106 876 "10,000" X
EXXON MOBIL COM 30231G102 "3,050" "34,223" X
FEDEX COM 31428X106 "1,052" "23,727" X
FINISAR COM 31787A101 "1,045" "21,600" X
FIRST FED BANCSHARES COM 32020F105 475 "25,000" X
FIRST TENN NATL COM 337162101 788 "38,537" X
FIRST UNION COM 337358105 225 "7,000" X
FLEETBOSTON FINL COM 339030108 207 "5,300" X
GANNETT COM 364730101 961 "18,140" X
GENERAL ELECTRIC COM 369604103 "3,163" "54,824" X
GULF ISLAND FABRICATION COM 402307102 "1,190" "67,500" X
HEALTHSOUTH COM 421924101 125 "15,384" X
HEALTH MANAGEMENT COM 421933102 "2,352" "113,026" X
HEWLETT PACKARD COM 428236103 495 "5,100" X
HOME DEPOT COM 437076102 "4,677" "88,137" X
HONEYWELL INTL COM 438516106 915 "25,689" X
INFINITY BROADCASTING COM 45662S102 365 "11,050" X
INTL BUSINESS MACHS COM 459200101 "2,270" "20,174" X
MASCO COM 574599106 508 "27,275" X
McDATA COM 580031102 725 "5,900" X
MELLON FINL COM 58551A108 830 "17,900" X
MERCK & COMPANY COM 589331107 "1,042" "14,000" X
MICROSOFT COM 594918104 "2,447" "40,577" X
MORGAN STANLEY DEAN WITTER COM 617446448 462 "5,050" X
MYLAN LABS COM 628530107 766 "28,450" X
NS GROUP COM 628916108 748 "37,641" X
NATIONAL COMM BANCORP COM 635449101 "1,055" "52,938" X
NEW PLAN EXCEL RLTY TR COM 648053106 456 "33,310" X
NOBLE AFFILIATES COM 654894104 "1,056" "28,433" X
NOKIA ADR 654902204 648 "16,280" X
NOBLE DRILLING COM 655042109 704 "14,000" X
NORTEL NETWORKS COM 656568102 695 "11,675" X
O CHARLEYS COM 670823103 "1,108" "90,000" X
ORACLE COM 68389x105 321 "4,080" X
ORTHODONTIC CENTERS COM 68750P103 "2,045" "61,395" X
PNC FINL SERVICES COM 693475105 228 "3,500" X
PATTERSON ENERGY COM 703414102 "1,891" "55,000" X
PFIZER COM 717081103 "1,436" "31,959" X
PHILIP MORRIS COM 718154107 404 "13,715" X
PROCTER & GAMBLE COM 742718109 902 "13,463" X
PROTECTIVE LIFE COM 743674103 442 "14,795" X
QLOGIC COM 747277101 "3,138" "35,658" X
RFS HOTEL INVESTORS COM 74955J108 593 "47,000" X
RF MICRO DEVICES COM 749941100 "14,227" "44,425" X
REGIONS FINL COM 758940100 306 "13,500" X
RENAL CARE GROUP COM 759930100 "1,181" "63,397" X
SBC COMMUNICATIONS COM 78387G103 "2,053" "41,052" X
SCB COMPUTER TECHNOLOGY COM 78388N107 27 "40,500" X
SCI SYSTEMS COM 783890106 "3,775" "92,083" X
SAKS COM 79377W108 144 "14,555" X
SCHERING PLOUGH COM 806605101 898 "19,311" X
SCHLUMBERGER COM 806857108 823 "10,000" X
SERVICEMASTER COM 81760N109 461 "46,657" X
SHAW GROUP COM 820280105 "3,325" "47,164" X
SOLECTRON COM 834182107 404 "8,750" X
SOUTHERN COMPANY COM 842587107 626 "19,300" X
SOUTHTRUST COM 844730101 672 "21,380" X
STAFF LEASING COM 852381102 38 "10,000" X
STATE STREET COM 857477103 374 "2,875" X
SUN MICROSYSTEMS COM 866810104 "1,649" "14,125" X
SUNTRUST COM 867914103 313 "6,284" X
SUPERIOR ENERGY COM 868157108 420 "40,000" X
SYMANTEC COM 871503108 405 "9,205" X
TEXAS INSTRUMENTS COM 882508104 "2,001" "42,400" X
TIME WARNER COM 887315109 617 "7,890" X
TYCO INTL COM 902124106 "1,047" "20,175" X
USX MARATHON GROUP COM 902905827 916 "32,275" X
US BANCORP COM 902973106 205 "9,000" X
UNION PLANTERS COM 908068109 734 "22,213" X
VERIZON COMMUNICATIONS COM 92343V104 992 "20,482" X
VESTA INSURANCE COM 925391104 81 "15,000" X
WACHOVIA COM 929771103 227 "4,000" X
WAL MART STORES COM 931142103 "1,310" "27,225" X
WALGREEN COM 931422109 381 "10,050" X
WATERS COM 941848103 540 "6,064" X
WELLS FARGO COM 949746101 456 "9,925" X
WESTPOINT STEVENS COM 961238102 212 "17,344" X
WORLDCOM COM 98157D106 "3,570" "117,547" X
