<PAGE> 1
FORM 13F
INFORMATION REQUIRED OF INSTITUTIONAL INVESTMENT
MANAGERS PURSUANT TO SECTION 13(f) OF THE SECURITIES
EXCHANGE ACT OF 1934 AND RULES THEREUNDER
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
REPORT OF THE QUARTER ENDED SEPTEMBER 30, 1999
- --------------------------------------------------------------------------------
(PLEASE READ INSTRUCTIONS BEFORE PREPARING FORM)
- --------------------------------------------------------------------------------
IF AMENDED REPORT, CHECK HERE:
Name of Institutional Investment Manager:
VILLANOVA MUTUAL FUND CAPITAL TRUST
- --------------------------------------------------------------------------------
Business Address:
THREE NATIONWIDE PLAZA COLUMBUS, OH 43216
- --------------------------------------------------------------------------------
Street City State Zip
Name, Phone No., and Title of Person Duly Authorized to Submit This Report:
Dennis W. Click - V.P./Secretary (614) 249-7531
- --------------------------------------------------------------------------------
ATTENTION - International misstatements or omissions of facts constitute
Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
FORM 13F FILE NUMBER: 28-
- --------------------------------------------------------------------------------
The institutional investment manager submitting this Form and its
attachments and the person by whom it is signed represent hereby that all
information contained therein is true, correct and complete. It is understood
that all required items, statements and schedules are considered integral parts
of this Form and that the submission of any amendment represents that all
unamended items, statements and schedules remain true, correct and complete as
previously-submitted.
Pursuant to the requirements of Securities Exchange Act of 1934, the
undersigned institutional investment manager caused this report to be signed on
its behalf in the City of Columbus and the State of Ohio on the 17th day of
November, 1999.
VILLANOVA MUTUAL FUND CAPITAL TRUST
-----------------------------------
(Name of Institutional Investment Manager)
/s/ DENNIS W. CLICK
- --------------------------------------------------------------------------------
DENNIS W. CLICK - V.P./SECRETARY
(Manual signature of Person Duly Authorized to submit this Report)
Report Type (Check only one):
[X] 13F HOLDING REPORT. (check here if all holdings of this reporting
manager are reported in this report.)
13F NOTICE. (check here if no holdings reported are in this report and
all holdings are reported in by other reporting manager(s).)
13F COMBINATION REPORT. (check here if a portion of the holdings for
this reporting manager are reported in this report and a portion
are reported by other reporting manager(s).)
Manager: (If there are no entries in this list, omit this section.)
FORM CONTINUES ON FOLLOWING PAGE
<PAGE> 2
Form 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers: 16
-----------------------------
Form 13F Information Table Entry Total: 984
-----------------------------
Form 13F Information Table Value Total: $7,358,894
-----------------------------
(thousands)
List of Other Included Managers:
Provide a numbered list of the name(s) and Form 13F File number(s) of all
institutional investment managers with respect to which this report is filed,
other than manager filing this report.
(If there are no entries in this list, state "NONE" and omit the column headings
and list entries.)
No. Form 13F File Number Name
01 28-2682 Brinson Partners, Inc.
02 28-127 The Dreyfus Corporation
03 28-5680 Federated Investment Counseling
04 28-4689 First Pacific Advisors, Inc.
05 28-3578 Franklin Advisers, Inc.
06 28-687 Goldman Sachs Asset Management
07 28-249 INVESCO Management & Research, Inc.
08 28-1482 J.P. Morgan Investment Management, Inc.
09 28-6558 Lazard Asset Management
10 28-465 Miller, Anderson & Sherrerd, LLP
11 28-454 Neuberger & Berman Management, Inc.
12 28-1904 Pilgrim Baxter & Associates Ltd.
13 28-925 Rice Hall James & Associates
14 28-2568 Salomon Brothers Asset Management
15 28-1202 Strong Capital Management
16 28-496 Warburg Pincus Asset Management, Inc.
<PAGE> 3
FORM 13F SEPTEMBER 30, 1999
NAME OF REPORTING MANAGER: VILLANOVA MUTUAL FUND CAPITAL TRUST
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
ITEM 1: ITEM 2: ITEM 3: ITEM 4: ITEM 5: ITEM 6: ITEM 7: ITEM 8:
INVESTMENT DISCRETION
(B) SHARED
FAIR SHARES OF AS DEFINED (C)
TITLE MARKET PRINCIPAL (A) IN INSTR. SHARED- MANAGERS (A) (B) (C)
NAME OF ISSUER OF CLASS CUSIP VALUE AMOUNT SOLE V OTHER SEE INSTR. V SOLE SHARED NONE
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
AAR Corp. - Common Stock 000361105 1,375,200 76,400 X 11 76,400
ADE Corp - Common Stock 00089C107 158,200 11,300 X 02 11,300
AGCO Corp. - Common Stock 001084102 1,210,300 93,100 X 02 93,100
AGL Resources,
Inc. - Common Stock 001204106 365,625 22,500 X 11 22,500
AMFM, Inc. - Common Stock 001693100 1,978,377 32,499 X 02 15 32,499
AT & T Corp. - Common Stock 001957109 2,823,411 64,906 X 01 02 03 06 08 14 64,906
AVT Corp. - Common Stock 002420107 1,675,188 54,700 X 02 07 54,700
AXA Financial,
Inc. - Common Stock 002451102 157,932,632 2,829,700 X 2,829,700
AXA Financial,
Inc. - Common Stock 002451102 6,139 110 X 08 110
Abbott
Laboratories - Common Stock 002824100 10,892,438 296,045 X 296,045
Abbott
Laboratories - Common Stock 002824100 1,246,560 33,920 X 02 03 06 08 14 33,920
About.com, Inc. - Common Stock 003736105 836,200 14,800 X 11 15 14,800
AC Nielsen Corp. - Common Stock 004833109 285,863 12,600 X 02 12,600
Activision, Inc. - Common Stock 004930202 752,588 42,700 X 05 15 42,700
Actel Corp - Common Stock 004934105 1,103,900 58,100 X 02 58,100
Acuson Corp.* - Common Stock 005113105 487,050 38,200 X 11 38,200
Acxiom Corp. - Common Stock 005125109 732,001 37,240 X 16 37,240
Adaptec, Inc. - Common Stock 00651F108 377,031 9,500 X 15 9,500
Adobe Systems
Inc. - Common Stock 00724F101 510,750 4,500 X 02 15 4,500
Advance Paradigm,
Inc.* Common Stock 007491103 1,089,525 19,900 X 19,900
Advanced Fibre
Communications Common Stock 00754A105 1,731,050 77,800 X 15 16 77,800
Advanced Micro
Devic - Common Stock 007903107 422,882 24,604 X 01 02 08 24,604
Advanced Energy
Industries, Inc. Common Stock 007973100 1,139,288 36,900 X 07 16 36,900
Advent Software,
Inc - Common Stock 007974108 1,170,300 18,800 X 18,800
Aetna, Inc. - Common Stock 008117103 512,988 10,416 X 01 02 08 10,416
Affiliated Managers
Group, Inc. Common Stock 008252108 805,238 29,550 X 02 07 11 29,550
Affymetrix, Inc. - Common Stock 00826T108 387,750 4,000 X 15 4,000
Aironet Wireless
Comm., Inc. Common Stock 00943A107 1,875,300 89,300 X 15 89,300
Albany Int'l. Corp.
Cl A Common Stock 012348108 245,025 16,200 X 02 16,200
Alberto Culver Co.
Cl A Common Stock 013068200 698,381 35,700 X 35,700
Albertson's Inc. - Common Stock 013104104 365,914 9,249 X 02 03 08 9,249
Aluminum Co. of
America Common Stock 013817101 352,636 5,775 X 5,775
Alcoa, Inc. - Common Stock 013817101 264,635 4,264 X 02 08 4,264
Alcatel SA ADR - Common Stock 013904305 416,250 15,000 X 14 15,000
Alkermes, Inc.* - Common Stock 01642T108 786,581 27,300 X 16 27,300
Allergan, Inc. - Common Stock 018490102 178,122,813 1,619,300 X 1,619,300
Allergan, Inc. - Common Stock 018490102 99,000 900 X 02 06 900
Alliance
Semiconductor
Corp. Common Stock 01877H100 364,438 34,300 X 02 34,300
Alliant
Techsystems, Inc. Common Stock 018804104 1,712,019 24,700 X 11 24,700
Allied-Signal
Inc. - Common Stock 019512102 329,716 5,501 X 02 08 5,501
Allied Waste
Indstrs Inc. Common Stock 019589308 382,182 32,700 X 02 32,700
Allstate Corp. - Common Stock 020002101 74,438,438 2,985,000 X 2,985,000
Allstate Corp. - Common Stock 020002101 894,683 35,877 X 02 03 08 14 15 35,877
-----------
Column Total 453,356,481
</TABLE>
<PAGE> 4
FORM 13F SEPTEMBER 30, 1999
NAME OF REPORTING MANAGER: VILLANOVA MUTUAL FUND CAPITAL TRUST
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
ITEM 1: ITEM 2: ITEM 3: ITEM 4: ITEM 5: ITEM 6: ITEM 7: ITEM 8:
INVESTMENT DISCRETION
(B) SHARED
FAIR SHARES OF AS DEFINED (C)
TITLE MARKET PRINCIPAL (A) IN INSTR. SHARED- MANAGERS (A) (B) (C)
NAME OF ISSUER OF CLASS CUSIP VALUE AMOUNT SOLE V OTHER SEE INSTR. V SOLE SHARED NONE
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Alltel Corp. - Common Stock 020039103 93,130,193 1,323,342 X 1,323,342
Alltel Corp. - Common Stock 020039103 1,090,813 15,500 X 01 02 06 15,500
Alpha Industries,
Inc. Common Stock 020753109 2,013,705 35,700 X 05 07 15 16 35,700
Alpharma, Inc.
Cl A - Common Stock 020813101 247,188 7,000 X 07 7,000
Alpharma, Inc.
144A 3.00%,
06/01/06 144A Securities 020813AC5 207,594 175,000 X 14 175,000
Altera Corp. - Common Stock 021441100 303,625 7,000 X 15 7,000
Alza Corp. Del - Common Stock 022615108 45,361,244 1,059,500 X 1,059,500
Alza Corp. Del - Common Stock 022615108 265,609 6,204 X 02 08 6,204
Amerada Hess
Corp. - Common Stock 023551104 392,000 6,400 X 02 14 6,400
America Online,
Inc - Common Stock 02364J104 2,054,000 19,750 X 02 06 08 19,750
America Online,
Inc. 4.00%,
11/15/02 Convertible Debt 02364JAB0 326,500 40,000 X 03 40,000
American Classic
Voyages Co. Common Stock 024928103 1,059,713 46,200 X 16 46,200
American Electric
Power Co., Inc. Common Stock 025537101 406,088 11,900 X 02 14 11,900
American Eagle
Outfitters, Inc. Common Stock 02553E106 547,344 11,300 X 11 15 11,300
American Express
Co. - Common Stock 025816109 579,427 4,304 X 02 08 4,304
American Home
Products Common Stock 026609107 26,929,350 648,900 X 648,900
American Home
Products Common Stock 026609107 1,817,285 43,790 X 02 08 14 15 43,790
American Intl
Group - Common Stock 026874107 92,980,190 1,069,623 X 1,069,623
American Intl
Group - Common Stock 026874107 2,001,041 23,017 X 02 06 08 14 23,017
American National
Can Group, Inc. Common Stock 027714104 869,688 55,000 X 02 55,000
AmeriPath, Inc. - Common Stock 03071D109 387,763 46,300 X 02 46,300
Ameritrade Holding
Corp. Cl A Common Stock 03072H109 339,938 18,500 X 15 18,500
Ames Dept Stores,
Inc.* Common Stock 030789507 729,938 22,900 X 16 22,900
Ameritech Corp. - Common Stock 030954101 1,064,653 15,846 X 02 03 08 15,846
Amgen, Inc. - Common Stock 031162100 993,974 12,196 X 02 06 08 12,196
Amkor Technology,
Inc. Common Stock 031652100 185,438 11,500 X 07 11,500
Anadarko Pete
Corp - Common Stock 032511107 305,625 10,000 X 10,000
Anadarko Pete
Corp - Common Stock 032511107 36,675 1,200 X 02 1,200
Analysts Int'l.,
Corp. Common Stock 032681108 355,863 34,300 X 11 34,300
Analytical Surveys,
Inc. Common Stock 032683302 207,900 13,200 X 11 13,200
Andrx Corp. - Common Stock 034551101 1,492,548 25,500 X 02 25,500
Anheuser-Busch
Co. - Common Stock 035229103 27,037,119 385,900 X 385,900
Anheuser-Busch
Co. - Common Stock 035229103 917,819 13,100 X 02 06 14 13,100
Ann Taylor Stores - Common Stock 036115103 801,150 19,600 X 07 10 15 16 19,600
ANTEC Corp. - Common Stock 03664P105 3,336,250 62,800 X 10 15 16 62,800
Apache Corp. - Common Stock 037411105 393,006 9,100 X 02 15 9,100
Apple Computer,
Inc. - Common Stock 037833100 1,185,717 18,728 X 02 03 08 15 18,728
Applebee's Int'l.,
Inc. Common Stock 037899101 2,156,001 64,000 X 15 16 64,000
Applied
Industrial - Common Stock 03820C105 678,600 37,700 X 02 37,700
Applied Materials
In - Common Stock 038222105 475,817 6,110 X 02 08 6,110
Applied Micro
Circuits Corp. Common Stock 03822W109 3,163,500 55,500 X 02 06 55,500
Aptargroup, Inc. - Common Stock 038336103 1,819,000 68,000 X 07 11 68,000
Arch Chemicals,
Inc. - Common Stock 03937R102 1,047,331 64,700 X 02 64,700
-----------
Column Total 321,694,216
</TABLE>
<PAGE> 5
FORM 13F SEPTEMBER 30, 1999
NAME OF REPORTING MANAGER: VILLANOVA MUTUAL FUND CAPITAL TRUST
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
ITEM 1: ITEM 2: ITEM 3: ITEM 4: ITEM 5: ITEM 6: ITEM 7: ITEM 8:
INVESTMENT DISCRETION
(B) SHARED
FAIR SHARES OF AS DEFINED (C)
TITLE MARKET PRINCIPAL (A) IN INSTR. SHARED- MANAGERS (A) (B) (C)
NAME OF ISSUER OF CLASS CUSIP VALUE AMOUNT SOLE V OTHER SEE INSTR. V SOLE SHARED NONE
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Argosy Gaming Co. - Common Stock 040228108 274,275 20,700 X 07 20,700
Armco, Inc. - Common Stock 042170100 1,114,400 159,200 X 02 159,200
Arrow Electronics,
Inc. Common Stock 042735100 2,568,845 145,750 X 02 04 15 145,750
Arvin Indstrs.,
Inc. - Common Stock 043339100 1,345,781 43,500 X 02 07 43,500
Aspect Devplmnt,
Inc - Common Stock 045234101 1,083,375 42,800 X 07 16 42,800
Assoc. First
Capital - Common Stock 046008108 77,100,362 2,141,684 X 2,141,684
Assoc. First
Capital - Common Stock 046008108 1,083,816 30,106 X 02 08 14 30,106
Atlantic Richfield
Co. Common Stock 048825103 274,738 3,100 X 02 3,100
Atmel Corp.* - Common Stock 049513104 652,582 19,300 X 12 15 19,300
Autodesk - Common Stock 052769106 1,187,813 54,300 X 02 54,300
Automatic Data
Procssng Co. Common Stock 053015103 35,700,000 800,000 X 800,000
Automatic Data
Procssng Co. Common Stock 053015103 298,989 6,700 X 02 06 08 6,700
Anant! Corp.* - Common Stock 053487104 711,968 39,900 X 16 39,900
Aviall, Inc. - Common Stock 05366B102 555,550 54,200 X 11 54,200
Avid Technology,
Inc - Common Stock 05367P100 1,227,188 93,500 X 02 93,500
Avnet, Inc. - Common Stock 053807103 268,800 6,400 X 15 6,400
Avon Products,
Inc. - Common Stock 054303102 39,700,000 1,600,000 X 1,600,000
Avon Products,
Inc. - Common Stock 054303102 359,781 14,500 X 02 14 14,500
BCE, Inc. - American Depos. 05534B109 891,644 17,900 X 14 15 17,900
Rec.
BJ Services Co. - Common Stock 055482103 1,940,563 61,000 X 15 16 61,000
BJ's Wholesale
Club, Inc. Common Stock 05548J106 413,875 14,000 X 15 14,000
BMC Industries,
Inc. Minnesota Common Stock 055607105 392,769 31,900 X 11 31,900
BP Amoco PLC - American Depos. 055622104 537,109 4,847 X 03 08 14 4,847
Rec.
BMC Software,
Inc. - Common Stock 055921100 140,584,531 1,964,500 X 1,964,500
BMC Software,
Inc. - Common Stock 055921100 174,040 2,432 X 02 08 2,432
Bally Total Fitness
Holding Corp. Common Stock 05873K108 874,088 28,600 X 07 15 28,600
Bank of Amer.
Corp. - Common Stock 060505104 3,061,978 54,985 X 01 02 03 08 14 15 54,985
Bank of NY Co.,
Inc. - Common Stock 064057102 17,039,750 509,600 X 509,600
Bank of NY Co.,
Inc. - Common Stock 064057102 234,063 7,000 X 02 7,000
Bank One Corp. - Common Stock 06423A103 112,747,719 3,238,822 X 3,238,822
Bank One Corp. - Common Stock 06423A103 1,087,021 31,225 X 01 02 03 08 31,225
Bank United Corp. - Common Stock 065412108 912,976 28,200 X 05 07 11 28,200
BARRA, Inc. - Common Stock 068313105 2,043,300 97,300 X 02 97,300
Bausch & Lomb,
Inc. - Common Stock 071707103 507,984 7,704 X 02 06 08 14 7,704
Baxter
International - Common Stock 071813109 572,375 9,500 X 02 03 9,500
Bay View Capital
Corp. Common Stock 07262L101 355,100 26,800 X 02 26,800
BEA Systems, Inc. - Common Stock 073325102 300,156 8,500 X 15 8,500
Bed Bath & Beyond,
Inc. Common Stock 075896100 15,075,531 431,500 X 431,500
Belden, Inc. - Common Stock 077459105 1,127,500 55,000 X 02 55,000
Bell Atlantic
Corp. - Common Stock 077853109 1,942,168 28,853 X 02 08 14 28,853
Bellsouth Corp. - Common Stock 079860102 814,500 18,100 X 02 18,100
Ben & Jerry's
Homemade, Inc.
Cl A Common Stock 081465106 632,500 36,800 X 16 36,800
Benchmark
Electronic - Common Stock 08160H101 1,175,906 33,300 X 11 16 33,300
-----------
Column Total 470,947,403
</TABLE>
<PAGE> 6
FORM 13F SEPTEMBER 30, 1999
NAME OF REPORTING MANAGER: VILLANOVA MUTUAL FUND CAPITAL TRUST
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
ITEM 1: ITEM 2: ITEM 3: ITEM 4: ITEM 5: ITEM 6: ITEM 7: ITEM 8:
INVESTMENT DISCRETION
(B) SHARED
FAIR SHARES OF AS DEFINED (C)
TITLE MARKET PRINCIPAL (A) IN INSTR. SHARED- MANAGERS (A) (B) (C)
NAME OF ISSUER OF CLASS CUSIP VALUE AMOUNT SOLE V OTHER SEE INSTR. V SOLE SHARED NONE
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Bergen Brunswig
Corp. Cl A Common Stock 083739102 5,187,500 500,000 X 500,000
Bergen Brunswig
Corp. Cl A Common Stock 083739102 1,107,013 106,700 X 02 106,700
Berkley (W.R.)
Corp. - Common Stock 084423102 1,044,200 45,400 X 02 11 45,400
Berkshire Hathaway,
Inc. Common Stock 084670108 50,995,500 927 X 927
Biogen, Inc. - Common Stock 090597105 323,132 4,100 X 04 06 4,100
Biomet, Inc. - Common Stock 090613100 5,394,063 205,000 X 205,000
Biomet, Inc. - Common Stock 090613100 28,944 1,100 X 02 1,100
Black & Decker
Corp. - Common Stock 091797100 139,706,692 3,057,793 X 3,057,793
Black & Decker
Corp. - Common Stock 091797100 36,550 800 X 02 800
Black Box Corp. - Common Stock 091826107 614,250 11,700 X 07 11 11,700
Block Drug, Inc.
Cl A Common Stock 093644102 736,108 20,483 X 11 20,483
Boeing Company
(The) - Common Stock 097023105 597,816 14,025 X 02 08 14,025
Borg-Warner
Automotive, Inc. Common Stock 099724106 425,700 9,900 X 15 9,900
Bowne & Co, Inc. - Common Stock 103043105 1,517,463 125,800 X 02 125,800
Boyd Gaming Corp. - Common Stock 103304101 1,198,200 199,700 X 02 199,700
Brady Corp. - Common Stock 104674106 470,400 14,700 X 11 14,700
Bristol-Meyers - Common Stock 110122108 81,482,932 1,207,373 X 1,207,373
Bristol-Meyers - Common Stock 110122108 4,068,900 60,280 X 02 03 06 08 14 60,280
Broadvision, Inc. - Common Stock 111412102 1,503,606 11,300 X 05 07 15 11,300
Brown Shoe Co. - Common Stock 115736100 1,723,206 94,100 X 02 94,100
Brunswick Corp. - Common Stock 117043109 52,652,913 2,116,700 X 2,116,700
Brunswick Corp. - Common Stock 117043109 22,388 900 X 02 900
Burlington Coat
Factory Warehouse Common Stock 121579106 2,368,025 119,900 X 02 119,900
Burlington
Indstrs., Inc.* Common Stock 121693105 330,594 74,500 X 02 74,500
Burlington Northern
Santa Fe Corp. Common Stock 12189T104 1,216,820 44,248 X 01 02 08 15 44,248
Burr-Brown Corp. - Common Stock 122574106 1,232,400 31,200 X 10 16 31,200
Business Objects
SA - Common Stock 12328X107 3,062,100 51,900 X 15 16 51,900
CBS, Inc. - Common Stock 12490K107 411,625 8,900 X 02 08 8,900
C-COR.net Corp. - Common Stock 125010108 583,200 19,200 X 05 15 19,200
C-Cube
Microsystems - Common Stock 125015107 1,335,450 30,700 X 16 30,700
CEC Entertainment,
Inc. Common Stock 125137109 1,569,532 43,750 X 07 15 43,750
Cigna Corp. - Common Stock 125509109 626,665 8,060 X 02 08 14 8,060
Cleco Corp. - Common Stock 12561W105 1,021,782 31,500 X 02 07 31,500
CMGI, Inc. - Common Stock 125750109 902,000 8,800 X 06 15 8,800
CMS Energy Corp. - Common Stock 125896100 505,940 14,908 X 01 02 08 14,908
CMS Energy Corp. - Common Stock 125896209 383,050 16,300 X 11 16,300
CNET, Inc. - Common Stock 125945105 448,000 8,000 X 15 8,000
CNF Transportation,
Inc. Common Stock 12612W104 224,245 6,020 X 03 08 6,020
CTC Comm. Corp. - Common Stock 126418102 696,950 42,400 X 16 42,400
Cabot Oil & Gas
Corp. Common Stock 127097103 505,425 29,300 X 11 29,300
CACI
International - Common Stock 127190304 554,125 26,000 X 11 26,000
Cadence Design
Systems, Inc. Common Stock 127387108 437,250 33,000 X 15 33,000
Cal Dive Int'l.,
Inc. Common Stock 127914109 664,450 19,400 X 11 19,400
-----------
Column Total 369,917,101
</TABLE>
<PAGE> 7
FORM 13F SEPTEMBER 30, 1999
NAME OF REPORTING MANAGER: VILLANOVA MUTUAL FUND CAPITAL TRUST
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
ITEM 1: ITEM 2: ITEM 3: ITEM 4: ITEM 5: ITEM 6: ITEM 7: ITEM 8:
INVESTMENT DISCRETION
(B) SHARED
FAIR SHARES OF AS DEFINED (C)
TITLE MARKET PRINCIPAL (A) IN INSTR. SHARED- MANAGERS (A) (B) (C)
NAME OF ISSUER OF CLASS CUSIP VALUE AMOUNT SOLE V OTHER SEE INSTR. V SOLE SHARED NONE
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Callaway Golf Co. - Common Stock 131193104 1,150,500 94,400 X 02 94,400
Cambridge
Technology
Partners, Inc. Common Stock 132524109 913,500 63,000 X 02 63,000
Canadian National
Railway Co. American Depos. 136375102 806,313 26,600 X 14 15 26,600
Rec.
Canadian National
Conv. Pfd., 5.25% Preferred Stock 136375409 206,750 4,000 X 14 4,000
Capital One
Financl - Common Stock 14040H105 409,500 10,500 X 10,500
Capital One
Financl - Common Stock 14040H105 74,334 1,906 X 02 08 1,906
Cardinal Health - Common Stock 14149Y108 27,250,000 500,000 X 500,000
Cardinal Health - Common Stock 14149Y108 152,600 2,800 X 02 06 2,800
Carnival Corp.
Cl A - Common Stock 143658102 256,650 5,900 X 5,900
Caterpillar, Inc. - Common Stock 149123101 448,690 8,214 X 8,214
Caterpillar, Inc. - Common Stock 149123101 186,582 3,404 X 02 08 3,404
Central &
Southwest - Common Stock 152357109 667,065 31,577 X 01 02 08 31,577
Central Hudson Gas
& Electric Common Stock 153609102 330,750 8,400 X 11 8,400
Cephalon, Inc. - Common Stock 156708109 889,456 49,500 X 15 49,500
Ceridian Corp. - Common Stock 15677T106 67,607,763 2,717,900 X 2,717,900
Ceridian Corp. - Common Stock 15677T106 34,825 1,400 X 02 1,400
Championship Auto
Racing Common Stock 158711101 702,000 27,000 X 16 27,000
Charter One Fincl
In - Common Stock 160903100 5,443,346 235,388 X 235,388
Charter One Fincl
In - Common Stock 160903100 2,525 109 X 08 109
Chase Manhattan
Corp - Common Stock 16161A108 1,862,366 24,708 X 02 03 08 14 15 24,708
Chevron Corp. - Common Stock 166751107 568,888 6,410 X 02 08 6,410
Children's Place
Retail Stores,
Inc. Common Stock 168905107 38,606 1,450 X 1,450
ChiRex, Inc. - Common Stock 170038103 681,450 26,400 X 10 16 26,400
Chubb Corp. - Common Stock 171232101 35,865,000 720,000 X 720,000
Chubb Corp. - Common Stock 171232101 857,174 17,208 X 02 03 08 14 15 17,208
Church &
Dwight Co.,
Inc. Common Stock 171340102 1,882,500 75,300 X 11 15 75,300
CIBER, Inc. - Common Stock 17163B102 411,906 26,900 X 11 26,900
Cinar Corp. - Common Stock 171905300 1,845,250 61,000 X 02 10 61,000
Cincinnati
Financial Corp. Common Stock 172062101 60,050 1,600 X 1,600
Circuit City Stores
Circuit City
Group Common Stock 172737108 320,794 7,604 X 02 06 08 7,604
Cisco System,
Inc. - Common Stock 17275R102 551,203 8,250 X 8,250
Cisco Systems,
Inc. - Common Stock 17275R102 4,168,189 60,794 X 02 03 06 08 60,794
Cintas Corp. - Common Stock 172908105 6,648,438 115,000 X 115,000
Cintas Corp. - Common Stock 172908105 109,844 1,900 X 04 1,900
Citigroup, Inc. - Common Stock 172967101 231,366 5,420 X 5,420
Citigroup, Inc. - Common Stock 172967101 1,948,848 44,292 X 02 03 06 08 44,292
Citrix Systems,
Inc. - Common Stock 177376100 792,800 12,800 X 05 15 12,800
Citrix Systems 144A
0.00%, 03/22/19 144A Securities 177376AA8 212,625 450,000 X 03 450,000
Citrix Systems
0.00% 03/22/19 Convertible Debt 177376AB6 141,750 300,000 X 03 300,000
Claire's Stores,
Inc. Common Stock 179584107 332,907 20,100 X 05 11 20,100
Clarify, Inc. - Common Stock 180492100 1,333,281 26,500 X 15 26,500
Clear Channel
Communications,
Inc. Common Stock 184502102 1,853,100 23,200 X 02 23,200
Coachmen Indstrs.,
Inc. Common Stock 189873102 313,650 20,400 X 11 20,400
-----------
Column Total 170,565,134
</TABLE>
<PAGE> 8
FORM 13F SEPTEMBER 30, 1999
NAME OF REPORTING MANAGER: VILLANOVA MUTUAL FUND CAPITAL TRUST
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
ITEM 1: ITEM 2: ITEM 3: ITEM 4: ITEM 5: ITEM 6: ITEM 7: ITEM 8:
INVESTMENT DISCRETION
(B) SHARED
FAIR SHARES OF AS DEFINED (C)
TITLE MARKET PRINCIPAL (A) IN INSTR. SHARED- MANAGERS (A) (B) (C)
NAME OF ISSUER OF CLASS CUSIP VALUE AMOUNT SOLE V OTHER SEE INSTR. V SOLE SHARED NONE
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Coca Cola Co. - Common Stock 191216100 2,499,298 52,001 X 02 06 08 14 52,001
Cognex Corp. - Common Stock 192422103 332,063 11,000 X 11,000
Colgate-Palmolive
Co - Common Stock 194162103 256,383 5,604 X 02 08 5,604
Columbia Energy
Group Common Stock 197648108 385,743 6,966 X 02 08 6,966
Columbia/HCA
Health - Common Stock 197677107 604,162 28,515 X 02 06 08 28,515
Comcast Corp. - Common Stock 200300101 21,637,500 600,000 X 600,000
Comcast Corp.
Cl. A - Common Stock 200300200 107,822,000 2,704,000 X 2,704,000
Comcast Corp.
Cl. A - Common Stock 200300200 358,557 8,992 X 02 06 08 8,992
Community First
Bankshares, Inc. Common Stock 203902101 371,250 22,000 X 22,000
Compaq Computer
Corp - Common Stock 204493100 373,904 16,301 X 02 08 16,301
Computer Associates
International,
Inc. Common Stock 204912109 318,990 5,208 X 02 08 5,208
Comverse
Technology, Inc. Common Stock 205862402 556,444 5,900 X 04 05 15 5,900
ConAgra, Inc. - Common Stock 205887102 433,200 19,200 X 02 06 19,200
Concentric Network,
Corp. Common Stock 20589R107 838,907 41,300 X 07 16 41,300
Concord Comm.,
Inc. - Common Stock 206186108 703,575 17,700 X 16 17,700
Concord EFS INC Common Stock 206197105 350,625 17,000 X 17,000
Concord EFS, Inc. - Common Stock 206197105 232,031 11,250 X 15 11,250
CONMED Corp. - Common Stock 207410101 1,421,000 58,000 X 02 07 11 58,000
Connecticut Energy
Corp. Common Stock 207567108 309,500 8,000 X 8,000
Conoco, Inc. Class
B - Common Stock 208251405 493,270 18,019 X 02 03 08 18,019
Consolidated
Stores - Common Stock 210149100 4,172,020 189,100 X 01 02 15 189,100
Consorcio G Grupo
Dina, CVDB 8%
8/08/04 Convertible Debt 210306AB2 4,349,037 8,853,000 X 8,853,000
Cooper Cameron
Corp. - Common Stock 216640102 1,809,886 47,944 X 08 15 16 47,944
Cooper Indstrs,
Inc. - Common Stock 216669101 496,766 10,626 X 02 08 14 10,626
Coors (Adolph)
Cl B - Common Stock 217016104 238,150 4,400 X 02 07 4,400
Copart, Inc. - Common Stock 217204106 794,656 43,100 X 07 15 43,100
Copper Mountain
Networks, Inc. Common Stock 217510106 219,063 2,500 X 15 2,500
Cordant
Technologies,
Inc. Common Stock 218412104 1,838,426 60,400 X 02 11 60,400
CORE, Inc.* - Common Stock 21867P102 557,550 70,800 X 16 70,800
The Corporate Exec.
Board Company Common Stock 21988R102 244,500 6,000 X 15 6,000
Cost Plus, Inc.
CA - Common Stock 221485105 1,207,650 24,900 X 15 24,900
Costco Wholesale
Corp. Common Stock 22160K105 309,600 4,300 X 02 06 14 4,300
Covad Comm. Group,
Inc. Common Stock 222814204 348,750 8,000 X 15 8,000
Cox Comm. Cl A - Common Stock 224044107 580,233 14,109 X 14,109
Cox
Communications - Common Stock 224044107 271,375 6,500 X 06 6,500
Credence Systems
Corp. Common Stock 225302108 1,503,313 33,500 X 15 33,500
Critical Path,
Inc. - Common Stock 22674V100 734,257 18,200 X 15 18,200
Cross Timbers Oil
Co. Common Stock 227573102 708,750 52,500 X 10 11 52,500
Crown Cork & Seal
Pfd. Conv. Preferred Stock 228255303 272,213 12,200 X 03 12,200
Cullen Frost
Bankers, Inc. Common Stock 229899109 550,000 22,000 X 11 22,000
Cumulus Media,
Inc. - Common Stock 231082108 336,681 10,300 X 05 10,300
Cymer, Inc. - Common Stock 232572107 870,657 25,100 X 10 15 25,100
DSP Group, Inc. - Common Stock 23332B106 550,275 13,800 X 13,800
-----------
Column Total 163,262,206
</TABLE>
<PAGE> 9
FORM 13F SEPTEMBER 30, 1999
NAME OF REPORTING MANAGER: VILLANOVA MUTUAL FUND CAPITAL TRUST
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
ITEM 1: ITEM 2: ITEM 3: ITEM 4: ITEM 5: ITEM 6: ITEM 7: ITEM 8:
INVESTMENT DISCRETION
(B) SHARED
FAIR SHARES OF AS DEFINED (C)
TITLE MARKET PRINCIPAL (A) IN INSTR. SHARED- MANAGERS (A) (B) (C)
NAME OF ISSUER OF CLASS CUSIP VALUE AMOUNT SOLE V OTHER SEE INSTR. V SOLE SHARED NONE
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
DSP Comm, Inc. - Common Stock 23332K106 353,400 18,600 X 07 10 16 18,600
Dallas
Semiconductor
Corp. Common Stock 235204104 2,003,907 37,500 X 07 11 37,500
Dana Corp. - Common Stock 235811106 486,932 13,116 X 02 08 15 13,116
Datascope Corp. - Common Stock 238113104 495,263 14,100 X 07 11 14,100
Davox Corp. - Common Stock 239208101 654,431 50,100 X 11 50,100
Dayton Hudson Co. - Common Stock 239753106 272,624 4,539 X 02 08 4,539
Deere & Co. - Common Stock 244199105 209,145 5,406 X 02 08 5,406
Delhaize America,
Inc. Common Stock 246688105 204,324 9,033 X 01 14 9,033
Dell Computer
Corp. - Common Stock 247025109 1,389,430 33,230 X 02 06 08 33,230
Delphi Auto
Systems - Common Stock 247126105 400,021 24,904 X 02 06 08 24,904
Denison Int'l.
PLC - Common Stock 248335101 447,563 38,500 X 09 38,500
Dentsply Int'l,
Inc. - Common Stock 249030107 136,500 6,000 X 6,000
Dentsply Int'l.,
Inc. Common Stock 249030107 1,066,975 46,900 X 11 46,900
Devon Energy
Corp. - Common Stock 25179M103 1,761,094 42,500 X 02 42,500
DeVry, Inc. - Common Stock 251893103 810,000 40,500 X 07 16 40,500
Diamond Technology
Partners, Inc. Common Stock 252762109 453,238 10,100 X 15 10,100
Diebold, Inc. - Common Stock 253651103 328,375 14,200 X 15 14,200
Digex, Inc. - Common Stock 253756100 440,588 18,600 X 11 15 18,600
Digital Microwave
Corp. Common Stock 253859102 1,411,875 90,000 X 15 90,000
Dionex Corp. - Common Stock 254546104 906,300 21,200 X 11 21,200
Discount Auto
Parts, Inc. Common Stock 254642101 630,488 39,100 X 02 39,100
Walt Disney Co.
(The) Common Stock 254687106 114,164,855 4,412,021 X 4,412,021
Walt Disney Co.
(The) Common Stock 254687106 1,293,751 50,000 X 02 03 08 14 50,000
Dollar General
Corp. - Common Stock 256669102 270,156 8,750 X 8,750
Dollar General
Corp. - Common Stock 256669102 66,937 2,168 X 02 2,168
Dominion Resources,
Inc. Common Stock 257470104 793,749 17,590 X 01 02 08 17,590
Donaldson, Inc. - Common Stock 257651109 997,063 43,000 X 11 43,000
Doncasters Plc
ADR - Common Stock 257692103 1,090,800 90,900 X 02 11 90,900
Doral Financial
Corp. American Depos. 25811P100 1,070,000 80,000 X 02 80,000
Rec.
Doubleclick, Inc. - Common Stock 258609304 609,921 5,120 X 08 15 5,120
Dow Chemical Co. - Common Stock 260543103 322,997 2,933 X 2,933
Dow Chemical Co. - Common Stock 260543103 751,971 6,618 X 01 02 06 08 6,618
Du Pont (E.I.) de
Nemours & Co. Common Stock 263534109 63,151,725 1,037,400 X 1,037,400
Du Pont (E.I.) de
Nemours & Co. Common Stock 263534109 1,180,001 19,384 X 01 02 03 19,384
Duane Reade, Inc. - Common Stock 263578106 1,301,400 43,200 X 02 43,200
Ducommun, Inc. - Common Stock 264147109 244,200 22,200 X 11 22,200
Duff & Phelps Crd
Rt - Common Stock 26432F109 455,644 5,700 X 11 5,700
Dun & Bradstreet
Corp. (The) Common Stock 26483B106 31,058,050 1,039,600 X 1,039,600
Dun & Bradstreet
Corp. (The) Common Stock 26483B106 44,813 1,500 X 02 1,500
Dura Automotive
Systems, Inc. Common Stock 265903104 664,125 27,600 X 02 27,600
ECI Telecom Ltd. - Common Stock 268258100 348,094 14,100 X 15 14,100
EEX Corp. - Common Stock 26842V207 161,269 54,900 X 02 54,900
E M C Corp. Mass - Common Stock 268648102 71,094,600 995,200 X 995,200
-----------
Column Total 305,998,588
</TABLE>
<PAGE> 10
FORM 13F SEPTEMBER 30, 1999
NAME OF REPORTING MANAGER: VILLANOVA MUTUAL FUND CAPITAL TRUST
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
ITEM 1: ITEM 2: ITEM 3: ITEM 4: ITEM 5: ITEM 6: ITEM 7: ITEM 8:
INVESTMENT DISCRETION
(B) SHARED
FAIR SHARES OF AS DEFINED (C)
TITLE MARKET PRINCIPAL (A) IN INSTR. SHARED- MANAGERS (A) (B) (C)
NAME OF ISSUER OF CLASS CUSIP VALUE AMOUNT SOLE V OTHER SEE INSTR. V SOLE SHARED NONE
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
E M C Corp. Mass - Common Stock 268648102 1,615,203 22,610 X 02 06 08 22,610
EMC Corp. 3.25%,
03/15/02 Convertible Debt 26865YAA2 570,038 90,000 X 03 90,000
Ensco Int'l.,
Inc. - Common Stock 26874Q100 543,898 30,112 X 08 15 30,112
Etec Systems,
Inc. - Common Stock 26922C103 3,262,089 86,700 X 02 05 11 15 16 86,700
E-Tek Dynamics,
Inc. - Common Stock 269240107 282,100 5,200 X 15 5,200
Eastern
Enterprises - Common Stock 27637F100 701,206 15,100 X 02 11 15,100
Eastman Kodak Co. - Common Stock 277461109 1,055,673 13,994 X 02 06 08 14 13,994
Eaton Corp. - Common Stock 278058102 387,543 4,490 X 02 06 08 4,490
EchoStar Comm.
Corp.* Common Stock 278762109 2,088,688 23,000 X 02 23,000
Edison Int'l. - Common Stock 281020107 299,190 12,306 X 02 08 14 12,306
Edwards (J.D.) &
Co. - Common Stock 281667105 366,723 17,700 X 15 17,700
Efficient Networks,
Inc. Common Stock 282056100 505,613 13,900 X 11 15 13,900
Elan Corp. Plc
ADR - Common Stock 284131208 335,625 10,000 X 15 10,000
Elcor Corp. - Common Stock 284443108 395,000 15,800 X 07 15,800
Elder-Beerman
Stores, Corp. Common Stock 284470101 116,663 18,300 X 02 18,300
Electronic Arts,
Inc. Common Stock 285512109 18,093,750 250,000 X 250,000
Electronic Arts,
Inc. Common Stock 285512109 362,454 5,008 X 08 15 5,008
Electronic Data
Systems Corp. Common Stock 285661104 1,120,687 21,170 X 01 02 03 06 08 21,170
Electronics for
Imaging, Inc. Common Stock 286082102 1,495,923 29,100 X 06 15 29,100
Emerson Electric
Co. - Common Stock 291011104 1,038,550 16,436 X 01 02 03 08 16,436
Emulex Corp. - Common Stock 292475209 996,150 11,600 X 16 11,600
Enhance Financial
Services Group Common Stock 293310108 316,606 17,900 X 16 17,900
Enron Corp. - Common Stock 293561106 862,125 20,900 X 02 03 08 20,900
Entercom Comm.
Corp.* Common Stock 293639100 525,600 14,600 X 16 14,600
Enzon, Inc. - Common Stock 293904108 1,125,450 36,900 X 15 36,900
Equifax, Inc. - Common Stock 294429105 9,241,875 328,600 X 328,600
Equifax, Inc. - Common Stock 294429105 46,013 1,636 X 02 08 1,636
Everest Reinsurance
Holdings, Inc. Common Stock 299808105 2,152,650 90,400 X 02 90,400
Exodus Comm.,
Inc. - Common Stock 302088109 557,765 7,740 X 05 06 08 15 7,740
Expeditors Int'l.
of Washington,
Inc. Common Stock 302130109 1,315,846 41,000 X 02 41,000
Express Scripts,
Inc. Common Stock 302182100 626,000 8,000 X 15 8,000
Exxon Corp. - Common Stock 302290101 32,653,125 430,000 X 430,000
Exxon Corp. - Common Stock 302290101 2,663,205 35,071 X 02 03 08 14 35,071
FBL Financial
Group, Inc. Common Stock 30239F106 734,250 35,600 X 11 35,600
FSI Int'l., Inc. - Common Stock 302633102 251,625 30,500 X 02 30,500
Fair, Isaac and
Company, Inc. Common Stock 303250104 440,581 15,700 X 11 15,700
Fairfield
Communities,
Inc. Common Stock 304231301 984,375 90,000 X 16 90,000
Federal Express
Corp - Common Stock 31304N107 52,777,500 1,362,000 X 1,362,000
Federal Express
Corp - Common Stock 31304N107 1,108,328 28,602 X 01 02 08 15 28,602
FHLMC - Common Stock 313400301 364,000 7,000 X 02 06 7,000
Federal-Mogus
Corp. - Common Stock 313549107 1,959,694 71,100 X 02 71,100
Fannie Mae - Common Stock 313586109 124,978,852 1,994,026 X 1,994,026
Fannie Mae - Common Stock 313586109 1,375,426 21,941 X 02 06 08 15 21,941
-----------
Column Total 272,693,653
</TABLE>
<PAGE> 11
FORM 13F SEPTEMBER 30, 1999
NAME OF REPORTING MANAGER: VILLANOVA MUTUAL FUND CAPITAL TRUST
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
ITEM 1: ITEM 2: ITEM 3: ITEM 4: ITEM 5: ITEM 6: ITEM 7: ITEM 8:
INVESTMENT DISCRETION
(B) SHARED
FAIR SHARES OF AS DEFINED (C)
TITLE MARKET PRINCIPAL (A) IN INSTR. SHARED- MANAGERS (A) (B) (C)
NAME OF ISSUER OF CLASS CUSIP VALUE AMOUNT SOLE V OTHER SEE INSTR. V SOLE SHARED NONE
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Finlay Enterprises,
Inc. Common Stock 317884203 573,375 41,700 X 02 41,700
First Amer Corp
Tenn - Common Stock 318900107 344,716 8,040 X 01 08 8,040
First Data Corp. - Common Stock 319963104 96,529,388 2,200,100 X 2,200,100
First Data Corp. - Common Stock 319963104 580,731 13,236 X 02 06 08 13,236
First Midwest
Bancorp, Inc. Common Stock 320867104 1,145,625 30,000 X 02 30,000
First Union Corp. - Common Stock 337358105 25,569,438 719,000 X 719,000
First Union Corp. - Common Stock 337358105 1,399,137 39,343 X 01 02 03 08 14 39,343
Firstar Corp. - Common Stock 33763V109 255,405 9,967 X 02 06 08 9,967
Fleet Financial
Group, Inc. Common Stock 338915101 941,263 25,700 X 01 02 14 25,700
Florida Progress - Common Stock 341109106 533,981 11,817 X 11,817
Florida Progress
Corp. Common Stock 341109106 41,625 900 X 02 900
Ford Motor Co. - Common Stock 345370100 43,055,856 857,900 X 857,900
Ford Motor Co. - Common Stock 345370100 1,229,494 24,498 X 02 03 06 08 24,498
Foster Wheeler
Corp. - Common Stock 350244109 531,956 44,100 X 02 44,100
GATX Corp. - Common Stock 361448103 456,619 14,700 X 01 14,700
GTE Corp. - Common Stock 362320103 1,706,856 22,203 X 02 03 08 22,203
GT Interactive
Software Corp. Common Stock 36236E109 90,386 31,100 X 02 31,100
Gannett Company,
Inc - Common Stock 364730101 22,606,351 326,800 X 326,800
Gannett Company,
Inc - Common Stock 364730101 205,487 2,970 X 02 08 2,970
Gap, Inc. - Common Stock 364760108 283,392 8,856 X 02 08 8,856
Gardner Denver,
Inc. - Common Stock 365558105 443,163 29,300 X 11 29,300
Gartner Group
Inc. - Common Stock 366651107 54,364,763 3,411,103 X 3,411,103
Gaylord Container
Corp. Cl A Common Stock 368145108 734,588 103,100 X 02 103,100
General Dynamics
Corp. Common Stock 369550108 374,625 6,000 X 02 06 6,000
General Electric
Co. - Common Stock 369604103 1,378,736 11,841 X 11,841
General Electric
Co. - Common Stock 369604103 7,743,913 65,315 X 02 03 06 08 14 65,315
General Instrument
Corp. Common Stock 370120107 1,438,939 29,900 X 01 02 15 29,900
General Mills - Common Stock 370334104 462,575 5,702 X 02 03 08 5,702
General Motors
Corp. - Common Stock 370442105 868,790 13,804 X 02 08 15 13,804
Geon Co. - Common Stock 37246W105 2,114,075 82,100 X 02 07 14 82,100
Genzyme Corp. - Common Stock 372917104 251,089 5,572 X 06 08 12 5,572
Georgia Gulf
Corp. - Common Stock 373200203 24,988,725 1,417,800 X 1,417,800
Georgia Gulf
Corp. - Common Stock 373200203 1,297,200 73,600 X 02 73,600
Georgia Pacific
Corp. Common Stock 373298108 284,680 7,117 X 7,117
Georgia Pacific
Corp - Common Stock 373298108 346,437 8,554 X 02 06 08 8,554
Getty Images,
Inc. - Common Stock 374276103 996,363 41,300 X 16 41,300
Gillette Co. - Common Stock 375766102 657,573 19,376 X 02 08 14 19,376
Glaxo Wellcome PLC
ADR American Depos. 37733W105 54,600,000 1,050,000 X 1,050,000
Rec.
Global Industries
Ltd. Common Stock 379336100 1,492,563 183,700 X 02 11 183,700
Global Marine
Inc. - Common Stock 379352404 470,770 28,640 X 08 15 28,640
Global TeleSystems
Group, Inc. Common Stock 37936U104 414,095 21,000 X 15 21,000
GlobeSpan, Inc. - Common Stock 379571102 315,625 5,000 X 15 5,000
Goldman Sachs
Group - Common Stock 38141G104 625,860 10,260 X 08 14 10,260
-----------
Column Total 354,746,223
</TABLE>
<PAGE> 12
FORM 13F SEPTEMBER 30, 1999
NAME OF REPORTING MANAGER: VILLANOVA MUTUAL FUND CAPITAL TRUST
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
ITEM 1: ITEM 2: ITEM 3: ITEM 4: ITEM 5: ITEM 6: ITEM 7: ITEM 8:
INVESTMENT DISCRETION
(B) SHARED
FAIR SHARES OF AS DEFINED (C)
TITLE MARKET PRINCIPAL (A) IN INSTR. SHARED- MANAGERS (A) (B) (C)
NAME OF ISSUER OF CLASS CUSIP VALUE AMOUNT SOLE V OTHER SEE INSTR. V SOLE SHARED NONE
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Go2Net, Inc. - Common Stock 383486107 414,400 6,400 X 16 6,400
W.R. Grace & Co. - Common Stock 38388F108 273,063 17,000 X 02 07 17,000
Graco, Inc., - Common Stock 384109104 213,281 6,500 X 07 6,500
Granite
Construction,
Inc. Common Stock 387328107 1,251,000 48,000 X 02 07 48,000
Greenpoint Finl
Corp - Common Stock 395384100 498,525 18,768 X 01 08 18,768
Haemonetics Corp. - Common Stock 405024100 956,813 48,600 X 11 48,600
Hain Food Group,
Inc.* Common Stock 405219106 396,000 16,000 X 15 16,000
Halliburton Co. - Common Stock 406216101 475,600 11,600 X 02 03 14 11,600
Hambrecht & Quist
Group Common Stock 406545103 1,318,866 26,950 X 11 15 26,950
Hanger Orthopedic - Common Stock 41043F208 722,100 49,800 X 07 16 49,800
Hanna (M.A.) Co. - Common Stock 410522106 1,275,138 112,100 X 02 112,100
Harbinger Corp. - Common Stock 41145C103 246,376 14,600 X 07 10 14,600
Harcourt General,
Inc. Common Stock 41163G101 911,588 21,900 X 02 21,900
Harmonic, Inc. - Common Stock 413160102 1,610,302 12,310 X 10 11 15 12,310
Harte-Hanks, Inc. Common Stock 416196103 1,385,313 55,000 X 02 55,000
Health Management
Associates, Inc. Common Stock 421933102 1,401,250 190,000 X 02 08 190,000
Healtheon Corp - Common Stock 422209106 333,000 9,000 X 15 9,000
Heilig-Meyers Co. - Common Stock 422893107 497,325 104,700 X 02 104,700
Heinz (H.J.) Co. - Common Stock 423074103 21,702,100 504,700 X 504,700
Heinz (H.J.) Co. - Common Stock 423074103 1,067,260 24,820 X 02 03 08 14 24,820
Helix Technology - Common Stock 423319102 711,550 21,400 X 11 15 21,400
Heller Financial,
Inc. Common Stock 423328103 2,522,250 112,100 X 02 112,100
Helmerich & Payne - Common Stock 423452101 820,125 32,400 X 02 07 15 32,400
Jack Henry &
Associates, Inc. Common Stock 426281101 620,550 16,800 X 11 16,800
Hertz Corp. - Common Stock 428040109 211,200 4,800 X 06 4,800
Hewlett-Packard
Co. - Common Stock 428236103 91,264,000 992,000 X 992,000
Hewlett-Packard
Co. - Common Stock 428236103 1,573,200 17,100 X 02 06 17,100
Hibernia Corp. - Common Stock 428656102 389,507 33,506 X 01 08 33,506
Hispanic
Broadcastin
Corp. Cl A Common Stock 43357B104 1,294,126 17,000 X 15 16 17,000
Hollinger Int'l,
Inc. Common Stock 435569108 60,563 5,100 X 5,100
Home Depot, Inc. - Common Stock 437076102 21,736,483 317,149 X 317,149
Home Depot, Inc. - Common Stock 437076102 1,352,325 19,706 X 02 06 08 19,706
Home Depot, Inc.
3.25%, 10/01/01 Convertible Debt 437076AE2 533,025 180,000 X 03 180,000
Honeywell, Inc. - Common Stock 438506107 34,333,750 308,475 X 308,475
Honeywell, Inc. - Common Stock 438506107 133,575 1,200 X 02 1,200
Hooper Holmes,
Inc. - Common Stock 439104100 830,250 32,400 X 07 15 32,400
Horace Mann
Educators Corp. Common Stock 440327104 37,541,700 1,454,400 X 1,454,400
Horace Mann
Educators Corp. Common Stock 440327104 304,588 11,800 X 07 14 11,800
Hormel Foods
Corp. - Common Stock 440452100 413,125 10,000 X 14 10,000
Household Int'l,
Inc. Common Stock 441815107 711,015 17,720 X 01 02 08 17,720
Houston Exploration
Co. Common Stock 442120101 1,318,600 60,800 X 02 07 60,800
Hudson United
Bancorp Common Stock 444165104 1,321,856 42,900 X 02 07 42,900
Hussmann Int'l.,
Inc. Common Stock 448110106 836,400 49,200 X 11 49,200
-----------
Column Total 237,783,059
</TABLE>
<PAGE> 13
FORM 13F SEPTEMBER 30, 1999
NAME OF REPORTING MANAGER: VILLANOVA MUTUAL FUND CAPITAL TRUST
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
ITEM 1: ITEM 2: ITEM 3: ITEM 4: ITEM 5: ITEM 6: ITEM 7: ITEM 8:
INVESTMENT DISCRETION
(B) SHARED
FAIR SHARES OF AS DEFINED (C)
TITLE MARKET PRINCIPAL (A) IN INSTR. SHARED- MANAGERS (A) (B) (C)
NAME OF ISSUER OF CLASS CUSIP VALUE AMOUNT SOLE V OTHER SEE INSTR. V SOLE SHARED NONE
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
ICN Pharmaceuticals
Inc. Common Stock 448924100 278,438 16,200 X 15 16,200
Hyperion Solutions
Corp. Common Stock 44914M104 2,270,400 103,200 X 02 103,200
IBP, Inc. - Common Stock 449223106 387,594 15,700 X 06 15,700
IDEC
Pharmaceuticals - Common Stock 449370105 1,948,329 20,720 X 02 07 08 20,720
IMC Global, Inc. - Common Stock 449669100 306,395 21,040 X 01 08 21,040
IMS Health Inc. - Common Stock 449934108 42,401,413 1,858,580 X 1,858,580
IMS Health Inc. - Common Stock 449934108 68,438 3,000 X 02 3,000
IDEX Corp. - Common Stock 45167R104 421,856 14,900 X 11 14,900
Illinois Tool
Works - Common Stock 452308109 596,947 8,006 X 01 02 08 8,006
Illinova Corp. - Common Stock 452317100 426,775 15,208 X 01 08 15,208
In Focus Systems,
Inc. Common Stock 452919103 1,219,400 72,800 X 02 07 72,800
InaCom Corp. - Common Stock 45323G109 172,725 18,800 X 02 18,800
Industrie Natuzzi
SPA Common Stock 456478106 622,113 31,700 X 09 31,700
Infinity
Broadcasting
Corp. Common Stock 45662S102 298,988 10,200 X 06 10,200
InfoSpace.com,
Inc. - Common Stock 45678T102 884,188 21,500 X 15 16 21,500
Ingram Micro,
Inc. - Common Stock 457153104 2,096,050 162,800 X 02 162,800
Insituform Tech.,
Inc. Class A Common Stock 457667103 305,000 12,200 X 07 10 12,200
Inprise Corp. - Common Stock 45766C102 350,020 85,500 X 11 85,500
Inspire Insurance
Solutions, Inc. Common Stock 457732105 317,625 46,200 X 16 46,200
Intergrated Device
Technology, Inc. Common Stock 458118106 747,400 40,400 X 11 15 40,400
Intel Corp. - Common Stock 458140100 15,810,013 212,602 X 212,602
Intel Corp. - Common Stock 458140100 4,786,468 64,410 X 02 03 06 08 64,410
Interactive
Pictures
Corporation Common Stock 45839N101 236,500 11,000 X 15 11,000
Intermet Corp. - Common Stock 45881K104 164,295 19,400 X 02 07 19,400
Int'l. Business
Machines Corp. Common Stock 459200101 311,390,784 2,565,616 X 2,565,616
Int'l. Business
Machines Corp. Common Stock 459200101 5,729,144 47,202 X 02 03 06 08 14 47,202
Int'l. Network
Srvs - Common Stock 460053101 761,250 14,000 X 15 14,000
Int'l. Paper Co. - Common Stock 460146103 290,971 6,054 X 02 08 6,054
Int'l. Rectifier
Corp. Common Stock 460254105 1,761,375 115,500 X 02 115,500
Iron Mountain,
Inc. - Common Stock 46284P104 713,069 21,050 X 11 15 21,050
Ivex Packaging
Corp. Common Stock 465855104 650,000 65,000 X 02 65,000
JDS Uniphase
Corp. - Common Stock 46612J101 216,244 1,900 X 05 15 1,900
JDA Software Group,
Inc. Common Stock 46612K108 564,506 48,300 X 02 48,300
Jabil Circuit,
Inc. - Common Stock 466313103 396,000 8,000 X 15 8,000
Johnson & Johnson
Co - Common Stock 478160104 107,953,125 1,175,000 X 1,175,000
Johnson & Johnson
Co - Common Stock 478160104 3,159,215 34,386 X 02 03 06 08 14 34,386
Johnson Controls
Inc - Common Stock 478366107 1,114,050 16,800 X 01 02 06 16,800
Jones Apparel
Group, Inc. Common Stock 480074103 2,441,163 84,910 X 02 08 84,910
Juniper Networks,
Inc. Common Stock 48203R104 841,800 4,600 X 15 4,600
Kla-Tencor Corp. - Common Stock 482480100 188,500 2,900 X 2,900
Kla-Tencor Corp. - Common Stock 482480100 52,000 800 X 800
Kmart Corp. - Common Stock 482584109 352,624 30,171 X 02 08 14 30,171
K N Energy, Inc. - Common Stock 482620101 1,487,652 66,302 X 02 08 10 66,302
-----------
Column Total 517,180,838
</TABLE>
<PAGE> 14
FORM 13F SEPTEMBER 30, 1999
NAME OF REPORTING MANAGER: VILLANOVA MUTUAL FUND CAPITAL TRUST
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
ITEM 1: ITEM 2: ITEM 3: ITEM 4: ITEM 5: ITEM 6: ITEM 7: ITEM 8:
INVESTMENT DISCRETION
(B) SHARED
FAIR SHARES OF AS DEFINED (C)
TITLE MARKET PRINCIPAL (A) IN INSTR. SHARED- MANAGERS (A) (B) (C)
NAME OF ISSUER OF CLASS CUSIP VALUE AMOUNT SOLE V OTHER SEE INSTR. V SOLE SHARED NONE
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Kaydon Corp. - Common Stock 486587108 883,063 35,500 X 11 35,500
Keane, Inc. - Common Stock 486665102 1,455,438 63,800 X 02 63,800
KEMET Corporation - Common Stock 488360108 495,516 15,500 X 15 15,500
Key Energy Group* - Common Stock 492914106 1,224,500 248,000 X 15 248,000
Keycorp - Common Stock 493267108 299,581 11,606 X 02 08 11,606
Kimberly Clark
Corp. - Common Stock 494368103 631,890 12,036 X 02 03 08 12,036
King
Pharmaceuticals - Common Stock 495582108 941,500 26,900 X 07 15 26,900
Kitty Hawk, Inc. - Common Stock 498326107 409,050 40,400 X 02 40,400
Kohls Corp. - Common Stock 500255104 905,913 13,700 X 02 06 16 13,700
Philips Elect. NV - American Depos. 500472204 51,663,520 511,520 X 511,520
Rec.
Kroger Co. - Common Stock 501044101 819,190 35,714 X 35,714
Kroger Co. - Common Stock 501044101 348,279 15,786 X 02 08 15,786
LSI Logic Corp. - Common Stock 502161102 968,200 18,800 X 02 06 15 18,800
LSI Logic Corp.
144A 4.25%,
03/15/04 144A Securities 502161AB8 164,588 90,000 X 03 90,000
Lafarge Corp. - Common Stock 505862102 809,550 25,200 X 01 15 25,200
Lamar Advertising
Comp.* Common Stock 512815101 1,737,450 35,100 X 02 10 35,100
Lands' End, Inc. - Common Stock 515086106 264,000 4,000 X 13 15 4,000
Lason, Inc. - Common Stock 51808R107 227,110 5,100 X 07 11 5,100
Lear Corp. - Common Stock 521865105 465,039 13,216 X 01 08 13,216
Legato Systems,
Inc. - Common Stock 524651106 2,375,862 54,500 X 02 05 54,500
Lehman Bros. Hldgs,
Inc. Common Stock 524908100 962,624 16,508 X 02 06 08 15 16,508
Level 3
Communications,
Inc. Common Stock 52729N100 303,391 5,810 X 06 08 5,810
Lexmark Int'l.
Group - Common Stock 529771107 1,118,950 13,900 X 02 03 06 15 13,900
Lilly Eli & Co. - Common Stock 532457108 140,800 2,200 X 2,200
Lilly Eli & Co. - Common Stock 532457108 1,093,120 17,080 X 02 06 08 17,080
Limited, Inc.
(The) - Common Stock 532716107 348,075 9,100 X 02 06 9,100
Lincoln Electric
Co. - Common Stock 533900106 350,700 16,800 X 11 16,800
Lindsay
Manufacturing Co. Common Stock 535555106 6,623,438 337,500 X 337,500
Linens N Things - Common Stock 535679104 340,875 10,100 X 16 10,100
Lockheed Martin
Corp. Common Stock 539830109 356,375 11,029 X 11,029
Lockheed Martin
Corp. Common Stock 539830109 1,585,345 48,500 X 01 02 03 08 15 48,500
Louis Dreyfus
Natural Gas
Corp.* Common Stock 546011107 921,813 43,000 X 15 43,000
Lucent
Technologies,
Inc. Common Stock 549463107 3,214,881 49,555 X 02 06 08 49,555
Lyondell
Petrochem - Common Stock 552078107 361,928 27,060 X 01 08 14 27,060
MBIA, Inc. - Common Stock 55262C100 12,341,638 264,700 X 264,700
MBIA, Inc. - Common Stock 55262C100 429,976 9,222 X 01 02 08 9,222
MBNA Corp. - Common Stock 55262L100 84,860,127 3,719,826 X 3,719,826
MBNA Corp. - Common Stock 55262L100 174,516 7,650 X 02 7,650
MCI Worldcom,
Inc. - Common Stock 55268B106 57,715,625 803,000 X 803,000
MCI Worldcom,
Inc. - Common Stock 55268B106 2,900,229 40,351 X 02 03 06 08 40,351
MDU Resources
Group - Common Stock 552690109 374,625 16,650 X 07 11 16,650
MEMC Electonic
Materials, Inc. Common Stock 552715104 246,125 17,900 X 15 17,900
MGM Grand, Inc. - Common Stock 552953101 547,706 10,700 X 15 10,700
-----------
Column Total 244,402,116
</TABLE>
<PAGE> 15
FORM 13F SEPTEMBER 30, 1999
NAME OF REPORTING MANAGER: VILLANOVA MUTUAL FUND CAPITAL TRUST
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
ITEM 1: ITEM 2: ITEM 3: ITEM 4: ITEM 5: ITEM 6: ITEM 7: ITEM 8:
INVESTMENT DISCRETION
(B) SHARED
FAIR SHARES OF AS DEFINED (C)
TITLE MARKET PRINCIPAL (A) IN INSTR. SHARED- MANAGERS (A) (B) (C)
NAME OF ISSUER OF CLASS CUSIP VALUE AMOUNT SOLE V OTHER SEE INSTR. V SOLE SHARED NONE
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
MTI Technology
Corporation Common Stock 553903105 435,881 18,900 X 15 18,900
Macdermid, Inc. - Common Stock 554273102 1,389,750 40,800 X 02 07 40,800
Macromedia, Inc. - Common Stock 556100105 232,988 5,700 X 07 10 5,700
Magnetek, Inc.* - Common Stock 559424106 893,750 100,000 X 02 100,000
Manor Care, Inc. - Common Stock 564055101 36,182,802 2,105,068 X 2,105,068
Marimba, Inc. - Common Stock 56781Q109 597,500 20,000 X 15 20,000
Marine Drilling
Cos., Inc. Common Stock 568240204 823,831 52,100 X 05 15 52,100
Marsh & Mclennan
Co. - Common Stock 571748102 806,656 11,776 X 02 03 06 08 14 11,776
Martin Marietta
Materials, Inc. Common Stock 573284106 21,543,413 539,400 X 539,400
Masco Corp. - Common Stock 574599106 39,277,000 1,267,000 X 1,267,000
Masco Corp. - Common Stock 574599106 130,200 4,200 X 02 4,200
Mattel, Inc. - Common Stock 577081102 463,220 24,380 X 02 08 24,380
Matthews Int'l.
Corp. Cl A Common Stock 577128101 533,213 17,700 X 11 17,700
Maxtor Corp. - Common Stock 577729205 1,751,313 265,600 X 02 265,600
May Dept. Stores - Common Stock 577778103 859,197 23,580 X 02 08 14 15 23,580
Maytag Corp. - Common Stock 578592107 29,408,275 882,800 X 882,800
Maytag Corp. - Common Stock 578592107 269,831 8,100 X 02 15 8,100
McClatchy Co.
Cl A - Common Stock 579489105 207,350 5,800 X 07 5,800
McDonalds Corp. - Common Stock 580135101 64,512,941 1,500,300 X 1,500,300
McDonalds Corp. - Common Stock 580135101 1,548,258 36,006 X 02 06 08 14 36,006
McKesson HBOC, Inc. Common Stock 58155Q103 16,928,460 583,740 X 583,740
McKesson HBOC, Inc. Common Stock 58155Q103 77,749 2,681 X 02 2,681
MediaOne Group,
Inc. - Common Stock 58440J104 666,903 9,926 X 9,926
MediaOne Group,
Inc. - Common Stock 58440J104 422,855 6,190 X 02 08 6,190
Medtronic, Inc. - Common Stock 585055106 645,390 18,180 X 02 06 08 18,180
Mellon Bank Corp. - Common Stock 585509102 212,766,225 6,304,200 X 6,304,200
Mellon Bank Corp. - Common Stock 585509102 850,500 25,200 X 02 03 15 25,200
Mentor Corp. - Common Stock 587188103 1,091,550 38,300 X 07 11 38,300
Mercantile
Bankshare Corp. Common Stock 587405101 279,861 9,046 X 08 14 9,046
Merck & Co., Inc. - Common Stock 589331107 142,587,500 2,200,000 X 2,200,000
Merck & Co., Inc. - Common Stock 589331107 3,614,206 55,764 X 02 03 06 08 14 55,764
Mercury
Interactive Co. Common Stock 589405109 1,136,301 17,600 X 07 16 17,600
Merrill Lynch &
Co. - Common Stock 590188108 37,289,063 555,000 X 555,000
Merrill Lynch &
Co. - Common Stock 590188108 835,813 12,440 X 02 03 08 15 12,440
Methode
Electronics,
Inc. Common Stock 591520200 1,170,251 62,000 X 07 11 62,000
Micrel, Inc. - Common Stock 594793101 607,250 14,000 X 15 14,000
Microsoft Corp. - Common Stock 594918104 36,225,000 400,000 X 400,000
Microsoft Corp. - Common Stock 594918104 7,897,593 87,206 X 02 06 08 87,206
Microchip
Technology - Common Stock 595017104 308,250 6,000 X 6,000
Micro Warehouse,
Inc. Common Stock 59501B105 931,225 77,200 X 02 77,200
Micromuse, Inc. - Common Stock 595094103 737,269 11,475 X 11 15 11,475
S & P Mid-Cap 400
Depositary
Receipts Common Stock 595635103 5,827,250 81,500 X 04 13 81,500
Midway Games,
Inc. - Common Stock 598148104 708,750 45,000 X 15 45,000
-----------
Column Total 675,472,582
</TABLE>
<PAGE> 16
FORM 13F SEPTEMBER 30, 1999
NAME OF REPORTING MANAGER: VILLANOVA MUTUAL FUND CAPITAL TRUST
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
ITEM 1: ITEM 2: ITEM 3: ITEM 4: ITEM 5: ITEM 6: ITEM 7: ITEM 8:
INVESTMENT DISCRETION
(B) SHARED
FAIR SHARES OF AS DEFINED (C)
TITLE MARKET PRINCIPAL (A) IN INSTR. SHARED- MANAGERS (A) (B) (C)
NAME OF ISSUER OF CLASS CUSIP VALUE AMOUNT SOLE V OTHER SEE INSTR. V SOLE SHARED NONE
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Millennium
Pharmaceuticals* Common Stock 599902103 2,866,500 44,100 X 02 15 44,100
Millipore Corp. - Common Stock 601073109 33,982,317 904,681 X 904,681
Millipore Corp. - Common Stock 601073109 15,025 400 X 02 400
Mineral
Technologies,
Inc. Common Stock 603158106 1,233,488 25,400 X 02 13 25,400
MiniMed, Inc. - Common Stock 60365K108 1,296,900 13,200 X 02 16 13,200
Minnesota Mining &
Manufacturing
Co. Common Stock 604059105 258,954 2,753 X 2,753
Minnesota Mining &
Manufacturing
Co. Common Stock 604059105 374,644 3,900 X 02 3,900
Mirage Resorts,
Inc. - Common Stock 60462E104 198,113 14,088 X 02 08 14,088
Mission Critical
Software, Inc. Common Stock 605047109 1,917,950 43,100 X 02 05 15 43,100
Mobil Corp. - Common Stock 607059102 891,800 9,100 X 9,100
Mobil Corp. - Common Stock 607059102 2,128,948 21,131 X 02 03 08 21,131
Mohawk Indstrs.,
Inc. Common Stock 608190104 697,813 35,000 X 02 35,000
Monsanto Corp. - Common Stock 611662107 214,272 6,144 X 6,144
Monsanto Co. - Common Stock 611662107 564,827 15,827 X 02 08 15,827
Monsanto Co.,
6.50% - Preferred Stock 611662305 309,600 8,600 X 03 8,600
Montana Power Co. - Common Stock 612085100 517,438 17,000 X 11 17,000
Morgan Stanley
Dean Witter, &
Co. Common Stock 617446448 14,715,938 165,000 X 165,000
Morgan Stanley
Dean Witter, &
Co. Common Stock 617446448 829,801 9,304 X 02 03 06 08 9,304
Motorola, Inc. - Common Stock 620076109 994,752 11,304 X 02 03 06 08 11,304
MP3.com, Inc. - Common Stock 62473M109 338,063 9,000 X 15 9,000
Multex.com Inc. - Common Stock 625367107 349,350 27,400 X 16 27,400
Musicland Stores
Corp. Common Stock 62758B109 1,169,000 133,600 X 02 07 131,800
Mylan Laboratories,
Inc. Common Stock 628530107 352,800 19,200 X 15 19,200
NUI Corp. - Common Stock 629430109 371,250 15,000 X 11 15,000
NVR, Inc., - Common Stock 62944T105 282,800 5,600 X 07 5,600
Nabisco Holdings
Cp - Common Stock 629526104 315,694 9,134 X 06 08 9,134
Nabisco Group
Holdings Common Stock 62952P102 349,500 23,300 X 02 06 23,300
Nabors Indstrs.,
Inc. Common Stock 629568106 1,062,500 42,500 X 11 15 42,500
National Data
Corp. - Common Stock 635621105 1,040,000 40,000 X 02 40,000
Nat'l. Fuel Gas Co.
NJ Common Stock 636180101 377,500 8,000 X 11 8,000
National
Information
Consortium, Inc. Common Stock 636491102 592,500 24,000 X 15 24,000
National
Instruments Corp. Common Stock 636518102 925,124 26,175 X 16 26,175
National-Oilwell,
Inc. Common Stock 637071101 1,573,924 95,752 X 02 11 95,752
National
Semiconduc. - Common Stock 637640103 579,195 18,990 X 02 08 15 18,990
National Service
Industries, Inc. Common Stock 637657107 211,050 6,700 X 01 02 6,700
Nautica
Enterprises, Inc. Common Stock 639089101 1,577,025 97,800 X 02 97,800
Navistar Int'l.
Corp - Common Stock 63934E108 372,000 8,000 X 02 06 8,000
Neiman Marcus
Group, Inc. Common Stock 640204103 804,100 34,400 X 02 34,400
Network Event
Theater, Inc. Common Stock 640924106 1,076,238 48,100 X 11 16 48,100
Network Assoc.,
Inc. - Common Stock 640938106 200,928 10,506 X 08 15 10,506
Net2Phone, Inc. - Common Stock 64108N106 260,625 5,000 X 15 5,000
Network
ApplianceInc - Common Stock 64120L104 229,201 3,200 X 02 15 3,200
New Plan Excel
Realty Trust Common Stock 648053106 194,513 10,920 X 14 10,920
-----------
Column Total 78,613,955
</TABLE>
<PAGE> 17
FORM 13F SEPTEMBER 30, 1999
NAME OF REPORTING MANAGER: VILLANOVA MUTUAL FUND CAPITAL TRUST
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
ITEM 1: ITEM 2: ITEM 3: ITEM 4: ITEM 5: ITEM 6: ITEM 7: ITEM 8:
INVESTMENT DISCRETION
(B) SHARED
FAIR SHARES OF AS DEFINED (C)
TITLE MARKET PRINCIPAL (A) IN INSTR. SHARED- MANAGERS (A) (B) (C)
NAME OF ISSUER OF CLASS CUSIP VALUE AMOUNT SOLE V OTHER SEE INSTR. V SOLE SHARED NONE
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
New York Times
Co., Class A Common Stock 650111107 125,742,900 3,353,100 X 3,353,100
New York Times
Co., Class A Common Stock 650111107 363,600 9,696 X 02 03 08 9,696
Newell Rubbermaid
Inc. Common Stock 651229106 8,683,000 304,000 X 304,000
Newell Rubbermaid
Inc. Common Stock 651229106 78,575 2,751 X 02 2,751
Newfield
Exploration Co.* Common Stock 651290108 750,975 22,800 X 02 07 15 22,800
Newpark Resources,
Inc. Common Stock 651718504 1,315,950 169,800 X 02 169,800
Newport News
Shipbuilding,
Inc. Common Stock 652228107 3,315,263 102,600 X 02 11 102,600
News Corp. Pref - Preferred Stock 652487802 427,000 16,000 X 14 16,000
Nextel
Communication - Common Stock 65332V103 874,782 12,900 X 01 02 06 12,900
NEXTLINK Comm.
Class A Common Stock 65333H707 1,555,314 30,000 X 06 15 30,000
Nike Inc.,
Class B - Common Stock 654106103 420,876 7,400 X 02 06 7,400
99 Cents Only
Stores - Common Stock 65440K106 1,412,487 39,100 X 11 16 39,100
Noble Affiliates,
Inc. Common Stock 654894104 2,380,900 82,100 X 02 82,100
Nordson Corp. - Common Stock 655663102 441,000 9,000 X 02 9,000
Norfolk Southern
Corp. Common Stock 655844108 467,950 19,100 X 01 02 08 19,100
Nortel Networks
Corp. American Depos. 656569100 647,700 12,700 X 02 12,700
Rec.
North Fork
Bancorp., Inc. Common Stock 659424105 351,000 18,000 X 18,000
North Fork
Bancorp., Inc. Common Stock 659424105 1,599 82 X 08 82
Northern Trust
Corp. - Common Stock 665859104 4,175,000 50,000 X 50,000
Northern Trust
Corp. - Common Stock 665859104 91,850 1,100 X 02 1,100
Novellus Systems,
Inc. Common Stock 670008101 1,301,544 19,300 X 05 16 19,300
OM Group, Inc. - Common Stock 670872100 17,019,313 443,500 X 443,500
OM Group, Inc. - Common Stock 670872100 1,323,938 34,500 X 02 34,500
Ocean Energy,
Inc. - Common Stock 67481E106 1,676,863 164,600 X 02 164,600
Ocean Financial
Corp. Common Stock 674904107 153,925 9,400 X 07 9,400
Oceaneering Int'l.,
Inc. Common Stock 675232102 442,169 26,300 X 11 26,300
OceanFirst
Financial Corp. Common Stock 675234108 438,850 26,800 X 11 26,800
Ocular Services,
Inc. Common Stock 675744106 685,875 35,400 X 02 35,400
Officemax, Inc. - Common Stock 67622M108 803,287 138,200 X 02 07 138,200
Offshore Logistics,
Inc. Common Stock 676255102 448,594 43,500 X 11 43,500
Olin Corp. - Common Stock 680665205 1,912,950 140,400 X 02 140,400
Omnicare, Inc. - Common Stock 681904108 192,500 20,000 X 20,000
Omnicare, Inc. - Common Stock 681904108 286,825 29,800 X 15 29,800
Omnipoint Corp. - Common Stock 68212D102 1,128,675 20,200 X 10 16 20,200
Optical Coating
Laboratory, Inc. Common Stock 683829105 2,586,957 28,100 X 05 11 15 28,100
Optimal Robotics
Corp. Common Stock 68388R208 1,125,000 62,500 X 16 62,500
Oracle Corp. - Common Stock 68389X105 1,549,275 34,050 X 02 06 08 34,050
Orbital Sciences
Corp. Common Stock 685564106 301,000 17,200 X 11 17,200
PMC-Sierra, Inc. - Common Stock 69344F106 2,414,250 26,100 X 02 05 06 15 26,100
PNC Bank Corp. - Common Stock 693475105 716,551 13,600 X 01 02 08 13,600
PRI Automation,
Inc. - Common Stock 69357H106 242,038 6,700 X 15 6,700
Pacific Capital
Bancorp Common Stock 69404P101 203,181 5,900 X 07 5,900
Pacific Century
Financial Corp. Common Stock 694058108 15,111,488 739,400 X 739,400
-----------
Column Total 205,562,767
</TABLE>
<PAGE> 18
FORM 13F SEPTEMBER 30, 1999
NAME OF REPORTING MANAGER: VILLANOVA MUTUAL FUND CAPITAL TRUST
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
ITEM 1: ITEM 2: ITEM 3: ITEM 4: ITEM 5: ITEM 6: ITEM 7: ITEM 8:
INVESTMENT DISCRETION
(B) SHARED
FAIR SHARES OF AS DEFINED (C)
TITLE MARKET PRINCIPAL (A) IN INSTR. SHARED- MANAGERS (A) (B) (C)
NAME OF ISSUER OF CLASS CUSIP VALUE AMOUNT SOLE V OTHER SEE INSTR. V SOLE SHARED NONE
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Pacific Century
Financial Corp. Common Stock 694058108 818 40 X 08 40
PairGain
Technologies,
Inc. Common Stock 695934109 1,072,275 84,100 X 15 16 84,100
Pall Corp. - Common Stock 696429307 33,345,828 1,438,095 X 1,438,095
Pall Corp. - Common Stock 696429307 27,825 1,200 X 02 1,200
Park Place
Entertainment Common Stock 700690100 2,238,825 179,106 X 02 08 179,106
Patterson Dental
Co.* Common Stock 703412106 1,122,591 22,650 X 11 22,650
Paychex, Inc. - Common Stock 704326107 26,177,288 767,100 X 767,100
Paychex, Inc. - Common Stock 704326107 319,069 9,350 X 02 15 9,350
Peerless Systems
Corp. Common Stock 705536100 324,625 24,500 X 11 15 24,500
Penney (J.C.) Co. - Common Stock 708160106 658,351 19,152 X 02 03 08 14 19,152
Pentair, Inc. - Common Stock 709631105 292,913 7,300 X 01 10 7,300
Peoples Heritage
Financial Group Common Stock 711147108 820,611 49,360 X 08 11 49,360
PepsiCo, Inc. - Common Stock 713448108 78,753,134 2,603,400 X 2,603,400
PepsiCo, Inc. - Common Stock 713448108 1,513,014 50,017 X 02 03 06 08 14 50,017
Peregrine Systems - Common Stock 71366Q101 2,587,625 63,500 X 02 16 63,500
Petroleum
Geo-Srvs - Common Stock 716597109 1,412,531 74,100 X 16 16 74,100
Pharmacia & Upjohn,
Inc. Common Stock 716941109 92,133,550 1,856,600 X 1,856,600
Pharmacia & Upjohn,
Inc. Common Stock 716941109 937,914 18,900 X 02 03 14 18,900
Pfizer, Inc. - Common Stock 717081103 50,425,352 1,403,955 X 1,403,955
Pfizer, Inc. - Common Stock 717081103 2,549,262 70,936 X 02 06 08 14 70,936
Pharmaceutical
Prod.
Development, Inc. Common Stock 717124101 469,263 34,600 X 02 34,600
Philip Morris Cos.,
Inc. Common Stock 718154107 44,566,825 1,303,600 X 1,303,600
Philip Morris Cos.,
Inc. Common Stock 718154107 2,785,873 81,488 X 01 02 03 06 08 14 15 81,488
Photronics, Inc. - Common Stock 719405102 841,407 37,500 X 11 16 37,500
Piedmont Natural
Gas Co., Inc. Common Stock 720186105 339,500 11,200 X 11 11,200
Pier 1 Imports,
Inc. - Common Stock 720279108 1,821,150 269,800 X 02 269,800
Pinnacle Holdings,
Inc. Common Stock 72346N101 1,278,819 48,950 X 11 15 48,950
Pitney Bowes
Credit - Common Stock 724479100 426,563 7,000 X 02 03 7,000
PIXAR, Inc. - Common Stock 725811103 308,525 8,200 X 15 8,200
Pogo Producing
Co. - Common Stock 730448107 892,250 43,000 X 15 43,000
Polaroid Corp. - Common Stock 731095105 1,614,600 62,100 X 02 62,100
Polycom, Inc. - Common Stock 73172K104 2,144,533 45,000 X 05 07 15 45,000
Powerwave Tech.,
Inc.* Common Stock 739363109 2,748,471 57,000 X 15 16 57,000
Powertel, Inc. - Common Stock 73936C109 2,268,575 41,200 X 15 16 41,200
Pre-Paid Legal
Services, Inc. Common Stock 740065107 720,563 18,300 X 07 15 18,300
Precision Drilling
Corporation Common Stock 74022D100 394,188 17,000 X 15 17,000
Premark Int'l.,
Inc. - Common Stock 740459102 17,871,950 353,900 X 353,900
Price
Communications
Corp. Common Stock 741437305 338,218 13,495 X 07 13,495
Primex
Technologies,
Inc. Common Stock 741597108 720,875 36,500 X 11 36,500
Prime Hospitality
Corp. Common Stock 741917108 373,600 46,700 X 11 46,700
Pride Int'l.,
Inc. - Common Stock 741932107 1,854,306 130,700 X 11 15 130,700
Procter & Gamble
Co. - Common Stock 742718109 19,301,018 205,751 X 205,751
Procter & Gamble
Co. - Common Stock 742718109 3,274,594 34,929 X 02 03 06 08 14 34,929
-----------
Column Total 404,069,062
</TABLE>
<PAGE> 19
FORM 13F SEPTEMBER 30, 1999
NAME OF REPORTING MANAGER: VILLANOVA MUTUAL FUND CAPITAL TRUST
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
ITEM 1: ITEM 2: ITEM 3: ITEM 4: ITEM 5: ITEM 6: ITEM 7: ITEM 8:
INVESTMENT DISCRETION
(B) SHARED
FAIR SHARES OF AS DEFINED (C)
TITLE MARKET PRINCIPAL (A) IN INSTR. SHARED- MANAGERS (A) (B) (C)
NAME OF ISSUER OF CLASS CUSIP VALUE AMOUNT SOLE V OTHER SEE INSTR. V SOLE SHARED NONE
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Profit Recovery
Group Int'l.,
Inc. Common Stock 743168106 1,573,031 35,250 X 16 35,250
Providian Corp. - Common Stock 74406A102 455,329 5,750 X 02 06 5,750
Proxim, Inc. - Common Stock 744284100 897,000 19,500 X 10 15 16 19,500
Public Service Co.
of New Mexico Common Stock 744499104 237,250 13,000 X 07 13,000
QLT Photo
Therapeutics,
Inc.* Common Stock 746927102 1,253,575 16,400 X 15 16,400
QRS Corp. - Common Stock 74726X105 1,875,657 29,250 X 07 16 29,250
Quaker Oats Co. - Common Stock 747402105 166,295,176 2,687,600 X 2,687,600
Quaker Oats Co. - Common Stock 747402105 80,438 1,300 X 02 1,300
Qualcom, Inc. - Common Stock 747525103 699,994 3,700 X 02 06 3,700
Quantum Corp, - Common Stock 747906303 1,560,410 209,803 X 02 08 209,803
Queens County
Bancorp, Inc. Common Stock 748242104 347,384 12,575 X 11 12,575
Quest Diagnostics,
Inc. Common Stock 74834L100 31,561,721 1,214,137 X 1,214,137
Quest Diagnostis,
Inc. Common Stock 74834L100 3,073,200 118,200 X 02 118,200
Quintiles
Transnation
Corp. Common Stock 748767100 892,568 46,900 X 02 46,900
RPM, Inc. - Common Stock 749685103 789,750 64,800 X 02 64,800
RSA Security,
Inc. - Common Stock 749719100 3,222,032 121,300 X 02 05 15 121,300
Radiant Systems,
Inc. Common Stock 75025N102 804,519 49,700 X 05 11 16 49,700
Ralstn-Ralstn
Purina Group Common Stock 751277302 83,317,907 2,995,700 X 2,995,700
Ralstn-Ralstn
Purina Group Common Stock 751277302 288,360 10,368 X 02 08 14 10,368
Range Resources
Corp. Common Stock 75281A109 467,088 94,600 X 94,600
Raytheon Co.
Class B - Common Stock 755111408 1,260,476 25,400 X 01 02 08 15 25,400
Redback Networks,
Inc. Common Stock 757209101 378,000 3,500 X 15 3,500
Reinsurance Group
of America, Inc. American Depos. 759351109 483,053 18,805 X 05 16 18,805
Rec.
Reliance Group
Hldngs, Inc. Common Stock 759464100 820,938 185,000 X 02 185,000
Reliance Steel &
Aluminum, Inc. Common Stock 759509102 1,348,200 64,200 X 02 05 64,200
Reliant Energy,
Inc. - Common Stock 75952J108 295,523 10,920 X 02 08 14 10,920
Remedy Corp. - Common Stock 759548100 970,425 34,200 X 16 34,200
Renaissance
Worldwide, Inc. Common Stock 75968A109 361,538 93,300 X 02 93,300
Renal Care Group - Common Stock 759930100 644,045 29,400 X 16 29,400
Rent-A-Center,
Inc. - Common Stock 76009N100 745,000 40,000 X 02 40,000
Republic Srvs,
Inc. - Common Stock 760759100 1,908,563 175,500 X 02 06 175,500
Research In Motion
Ltd. Common Stock 760975102 1,423,125 46,000 X 15 46,000
Respironics, Inc. - Common Stock 761230101 277,200 33,600 X 11 33,600
Reynolds and
Reynolds Co.
(The) Common Stock 761695105 611,250 30,000 X 14 30,000
Ritchie Brothers
Auctioneers, Inc. Common Stock 767744105 1,710,000 45,000 X 02 45,000
Rite Aid Corp. - Common Stock 767754104 310,781 22,500 X 02 14 22,500
Rohm & Haas Co. - Common Stock 775371107 21,394,598 592,238 X 592,238
Rohm & Haas Co. - Common Stock 775371107 291,710 8,075 X 02 08 8,075
Roper Indstrs.,
Inc. - Common Stock 776696106 2,570,400 67,200 X 02 11 67,200
Rowan Cos. - Common Stock 779382100 1,979,250 121,800 X 02 15 121,800
Royal Dutch Petro
Co. American Depos. 780257804 1,995,012 33,778 X 02 06 08 14 33,778
Rec.
Ruddick Corp. - Common Stock 781258108 779,463 49,100 X 11 49,100
SBC Communicatns,
Inc. Common Stock 78387G103 1,776,260 34,786 X 02 08 14 34,786
-----------
Column Total 344,027,196
</TABLE>
<PAGE> 20
FORM 13F SEPTEMBER 30, 1999
NAME OF REPORTING MANAGER: VILLANOVA MUTUAL FUND CAPITAL TRUST
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
ITEM 1: ITEM 2: ITEM 3: ITEM 4: ITEM 5: ITEM 6: ITEM 7: ITEM 8:
INVESTMENT DISCRETION
(B) SHARED
FAIR SHARES OF AS DEFINED (C)
TITLE MARKET PRINCIPAL (A) IN INSTR. SHARED- MANAGERS (A) (B) (C)
NAME OF ISSUER OF CLASS CUSIP VALUE AMOUNT SOLE V OTHER SEE INSTR. V SOLE SHARED NONE
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
SCI Systems, Inc. - Common Stock 783890106 373,275 8,400 X 11 12 8,400
SCM Microsystems,
Inc. Common Stock 784018103 545,250 12,000 X 15 12,000
SCPIE Holdings,
Inc. - Common Stock 78402P104 759,150 24,100 X 02 24,100
SDL, Inc. - Common Stock 784076101 831,806 10,900 X 10 15 10,900
SM&A Corp. - Common Stock 784432106 381,300 49,200 X 11 49,200
S&P 500
Depository
Receipt Common Stock 78462F103 1,926,095 15,000 X 02 15,000
SPSS, Inc. - Common Stock 78462K102 194,375 10,000 X 10,000
SOS Staffing Srvs,
Inc. Common Stock 78462X104 129,619 22,300 X 11 22,300
Safety-Kleen
Corp. - Common Stock 78648R203 1,458,658 120,925 X 02 120,925
Safeway, Inc. - Common Stock 786514208 927,303 21,948 X 21,948
Safeway, Inc. - Common Stock 786514208 756,454 19,874 X 02 08 14 19,874
St. Jude Medical,
Inc. Common Stock 790849103 51,615,663 1,638,600 X 1,638,600
St. Jude Medical,
Inc. Common Stock 790849103 796,005 25,270 X 01 02 08 25,270
Saks, Inc. - Common Stock 79377W108 1,819,463 119,800 X 02 119,800
Salem Comm. Cl A - Common Stock 794093104 688,500 27,000 X 16 27,000
Salon.com - Common Stock 79549F108 93,319 18,900 X 16 18,900
Salton, Inc. - Common Stock 795757103 452,813 15,000 X 15 15,000
SanDisk Corp.* - Common Stock 80004C101 501,944 7,700 X 16 7,700
Santa Fe Snyder
Corp. Common Stock 80218K105 3,210,300 356,700 X 02 356,700
Sapient Corp. - Common Stock 803062108 273,325 2,900 X 07 10 2,900
Sara Lee Corp. - Common Stock 803111103 72,989,063 3,114,200 X 3,114,200
Sara Lee Corp. - Common Stock 803111103 685,781 29,260 X 02 08 14 29,260
Sawtek, Inc. - Common Stock 805468105 1,120,000 32,000 X 10 15 32,000
Henry Schein,
Inc. - Common Stock 806407102 1,117,200 78,400 X 02 78,400
Schering-Plough
Corp. Common Stock 806605101 245,521,594 5,628,793 X 5,628,793
Schering-Plough
Corp. Common Stock 806605101 732,901 16,800 X 02 06 08 16,800
Schlumberger Ltd. - Common Stock 806857108 239,173 3,937 X 3,937
Schlumberger Ltd. - Common Stock 806857108 791,369 12,700 X 02 14 12,700
A. Schulman, Inc. - Common Stock 808194104 458,781 26,500 X 02 26,500
Schultz Sav-O
Stores, Inc. Common Stock 808196109 307,125 19,500 X 11 19,500
Schwab (Charles)
Corp. (The) Common Stock 808513105 444,676 13,200 X 02 06 13,200
Scientific-
Atlanta - Common Stock 808655104 723,613 14,600 X 02 06 16 14,600
Scor Sponsored
ADR - Common Stock 80917Q106 659,313 13,700 X 09 13,700
E.W.Scripps Co. - Common Stock 811054204 52,012,637 1,058,914 X 1,058,914
Seagram Co. Ltd. - American Depos. 811850106 307,808 6,765 X 02 08 6,765
Rec.
Sears Roebuck &
Co. - Common Stock 812387108 500,715 15,959 X 02 08 15,959
Security First
Technologies
Corp. Common Stock 814279105 349,875 9,000 X 15 9,000
Sepracor, Inc. - Common Stock 817315104 354,850 4,700 X 15 4,700
Service Corp.
Int'l. - Common Stock 817565104 4,225,000 400,000 X 400,000
Service Corp.
Int'l. - Common Stock 817565104 130,458 12,351 X 02 08 12,351
Sherwin-Williams
Co. (The) Common Stock 824348106 183,938 9,000 X 9,000
Sherwin Williams
Co. - Common Stock 824348106 33,584 1,604 X 02 08 1,604
Shopko Stores,
Inc. - Common Stock 824911101 1,844,400 63,600 X 02 07 63,600
-----------
Column Total 453,468,465
</TABLE>
<PAGE> 21
FORM 13F SEPTEMBER 30, 1999
NAME OF REPORTING MANAGER: VILLANOVA MUTUAL FUND CAPITAL TRUST
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
ITEM 1: ITEM 2: ITEM 3: ITEM 4: ITEM 5: ITEM 6: ITEM 7: ITEM 8:
INVESTMENT DISCRETION
(B) SHARED
FAIR SHARES OF AS DEFINED (C)
TITLE MARKET PRINCIPAL (A) IN INSTR. SHARED- MANAGERS (A) (B) (C)
NAME OF ISSUER OF CLASS CUSIP VALUE AMOUNT SOLE V OTHER SEE INSTR. V SOLE SHARED NONE
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Sierra Pacific
Resources Common Stock 826428104 1,457,375 65,500 X 02 11 65,500
Signet Group PLC - Common Stock 82668L872 1,498,650 61,800 X 09 61,800
Silicon Valley
Bankshares Common Stock 827064106 144,750 6,000 X 6,000
Silicon Valley
Bancshares Common Stock 827064106 65,138 2,700 X 05 07 2,700
Silicon Valley
Group Inc. Common Stock 827066101 433,519 36,700 X 02 36,700
Simpson
Manufacturing Co. Common Stock 829073105 492,188 10,500 X 11 10,500
Smith Int'l.,
Inc. - Common Stock 832110100 1,743,120 43,040 X 08 11 15 16 43,040
Smurfit-Stone
Container Corp. Common Stock 832727101 3,460 160 X 08 160
Snyder Comm.,
Inc. - Common Stock 832914105 1,790,606 117,900 X 02 15 117,900
Sola Int'l., Inc. - Common Stock 834092108 724,019 46,900 X 02 46,900
Solectron Corp. - Common Stock 834182107 631,951 8,800 X 02 06 8,800
Southdown, Inc. - Common Stock 841297104 1,053,950 19,700 X 01 15 19,700
Spacelabs Medical,
Inc. Common Stock 846247104 683,650 45,200 X 02 45,200
Speedway
Motorsports, Inc. Common Stock 847788106 435,291 10,050 X 11 15 10,050
Sprint Corp. - Common Stock 852061100 108,966,550 2,008,600 X 2,008,600
Sprint Corp. - Common Stock 852061100 873,534 16,102 X 02 03 08 16,102
Sprint PCS Group,
Inc. Common Stock 852061506 474,069 6,358 X 02 03 08 6,358
Staffmark, Inc. - Common Stock 852389105 84,931 10,700 X 02 10,700
Staples, Inc. - Common Stock 855030102 447,156 20,500 X 02 15 20,500
StarMedia Network,
Inc. Common Stock 855546107 440,626 12,000 X 15 12,000
Sterling Bancshares
Inc. / Texas Common Stock 858907108 707,123 61,825 X 11 61,825
STERIS Corp.* - Common Stock 859152100 1,447,875 105,300 X 02 105,300
Sterling Commerce - Common Stock 859205106 25,783,313 1,389,000 X 1,389,000
Sterling Commerce,
Inc. Common Stock 859205106 2,732,400 147,200 X 02 147,200
Sterling Software,
Inc. Common Stock 859547101 670,000 33,500 X 02 33,500
Stewart
Enterprises,
Inc. Cl A Common Stock 860370105 655,356 108,100 X 02 108,100
Stillwater Mining
Co., Inc. Common Stock 86074Q102 278,156 10,350 X 07 10,350
Stone Energy
Corp. - Common Stock 861642106 2,828,650 55,600 X 07 15 16 55,600
Strayer Education - Common Stock 863236105 371,663 18,700 X 16 18,700
Suiza Foods - Common Stock 865077101 243,750 6,500 X 02 13 6,500
Summit Bancorp. - Common Stock 866005101 341,048 10,514 X 02 08 15 10,514
Sun Microsystems,
Inc. Common Stock 866810104 2,299,518 24,726 X 02 03 06 08 24,726
Suncor Energy,
Inc. - American Depos. 867229106 325,125 8,500 X 14 8,500
Rec.
Sungard Data
System - Common Stock 867363103 38,739,894 1,472,300 X 1,472,300
Sunterra Corp. - Common Stock 86787D109 644,813 54,300 X 16 54,300
Suntrust Banks,
Inc. - Common Stock 867914103 216,975 3,300 X 02 08 3,300
Swift Energy Co. - Common Stock 870738101 411,575 32,600 X 11 32,600
Swift
Transportation
Co., Inc. Common Stock 870756103 723,516 36,750 X 16 36,750
Sybase, Inc. - Common Stock 871130100 810,337 68,600 X 02 07 68,600
SYSCO Corp. - Common Stock 871829107 52,102,875 1,486,000 X 1,486,000
SYSCO Corp. - Common Stock 871829107 112,200 3,200 X 3,200
TDK Corp. - American Depos. 872351408 216,341 1,860 X 09 1,860
Rec.
TNP Enterprises,
Inc. Common Stock 872594106 358,225 9,200 X 11 9,200
-----------
Column Total 255,465,258
</TABLE>
<PAGE> 22
FORM 13F SEPTEMBER 30, 1999
NAME OF REPORTING MANAGER: VILLANOVA MUTUAL FUND CAPITAL TRUST
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
ITEM 1: ITEM 2: ITEM 3: ITEM 4: ITEM 5: ITEM 6: ITEM 7: ITEM 8:
INVESTMENT DISCRETION
(B) SHARED
FAIR SHARES OF AS DEFINED (C)
TITLE MARKET PRINCIPAL (A) IN INSTR. SHARED- MANAGERS (A) (B) (C)
NAME OF ISSUER OF CLASS CUSIP VALUE AMOUNT SOLE V OTHER SEE INSTR. V SOLE SHARED NONE
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
TALK.com, Inc - Common Stock 874264104 1,507,456 116,800 X 02 116,800
Tandy Corp. - Common Stock 875382103 599,575 11,600 X 02 15 11,600
Tech Data Corp. - Common Stock 878237106 2,130,239 91,500 X 02 91,500
Technology
Solutions Co. Common Stock 87872T108 649,750 46,000 X 15 46,000
Telcom
Semiconductor,
Inc. Common Stock 87921P107 581,400 45,600 X 16 45,600
Tellabs, Inc. - Common Stock 879664100 569,376 10,000 X 02 03 10,000
Temple-Inland,
Inc. - Common Stock 879868107 257,488 4,256 X 02 08 4,256
Tesoro Petroleum
Corp. Common Stock 881609101 730,950 44,300 X 02 07 44,300
Tetra Tech, Inc. - Common Stock 88162G103 1,042,969 62,500 X 02 62,500
Texaco, Inc. - Common Stock 881694103 57,910,875 917,400 X 917,400
Texaco, Inc. - Common Stock 881694103 361,076 5,720 X 02 08 5,720
Texas Instruments,
Inc. Common Stock 882508104 1,712,445 20,820 X 02 06 08 20,820
Texas Regional
Bancshares Cl A Common Stock 882673106 445,500 18,000 X 11 18,000
Textron, Inc. - Common Stock 883203101 402,350 5,200 X 02 03 5,200
Thermo Electron
Corp. Common Stock 883556102 702,781 52,300 X 02 52,300
3DO Co. - Common Stock 88553W105 827,138 82,200 X 16 82,200
Tiffany & Co. - Common Stock 886547108 149,855,038 2,500,200 X 2,500,200
Tiffany & Co. - Common Stock 886547108 581,394 9,700 X 12 15 9,700
Time Warner, Inc. - Common Stock 887315109 1,543,050 25,400 X 02 06 25,400
Time Warner, Inc. - Common Stock 887315109 243,000 4,000 X 14 4,000
Titan Intl., Inc. - Common Stock 88830M102 1,332,500 130,000 X 02 130,000
Toro Co. (The) - Common Stock 891092108 235,463 6,300 X 02 6,300
Total Renal Care - Common Stock 89151A107 966,875 130,000 X 02 130,000
Toys "R" Us, Inc. - Common Stock 892335100 1,012,125 21,400 X 02 15 21,400
Transportation
Tech. Ind., Inc. Common Stock 89388T101 8,295,675 479,400 X 479,400
TranSwitch Corp. - Common Stock 894065101 3,807,600 66,800 X 02 07 10 15 66,800
Trigon Healthcare - Common Stock 89618L100 779,625 27,000 X 06 11 27,000
Trimble Navigation
Ltd.* Common Stock 896239100 479,869 44,900 X 02 44,900
Trinity Indstrs.,
Inc. Common Stock 896522109 35,842,881 1,160,900 X 1,160,900
TriQuint
Semiconductor,
Inc. Common Stock 89674K103 1,669,875 29,200 X 07 15 16 29,200
TriStar Aerospace
Co. Common Stock 89674L101 524,913 85,700 X 16 85,700
True North Comm.,
Inc. Common Stock 897844106 1,815,113 49,900 X 02 07 49,900
Trump Hotels &
Casino Resorts Common Stock 898168109 1,062,500 250,000 X 02 250,000
Tuboscope, Inc. - Common Stock 898600101 317,157 25,500 X 10 11 25,500
Tweeter Home
Entertainment
Group Common Stock 901167106 485,875 13,000 X 15 13,000
Tyco Int'l. Ltd. - Common Stock 902124106 1,218,040 11,797 X 02 06 08 11,797
UAL Corp - Common Stock 902549500 496,375 7,600 X 15 7,600
Ucar Int'l., Inc. - Common Stock 90262K109 787,032 34,500 X 02 15 34,500
U.S. Bancorp NEW - Common Stock 902973106 394,853 13,080 X 02 08 13,080
USG Corp. - Common Stock 903293405 343,425 7,230 X 01 08 7,230
USEC, Inc. - Common Stock 90333E108 266,500 26,000 X 14 26,000
UTI Energy Corp. - Common Stock 903387108 981,594 50,500 X 11 15 50,500
Unifi, Inc. - Common Stock 904677101 557,700 50,700 X 02 50,700
-----------
Column Total 286,327,410
</TABLE>
<PAGE> 23
FORM 13F SEPTEMBER 30, 1999
NAME OF REPORTING MANAGER: VILLANOVA MUTUAL FUND CAPITAL TRUST
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
ITEM 1: ITEM 2: ITEM 3: ITEM 4: ITEM 5: ITEM 6: ITEM 7: ITEM 8:
INVESTMENT DISCRETION
(B) SHARED
FAIR SHARES OF AS DEFINED (C)
TITLE MARKET PRINCIPAL (A) IN INSTR. SHARED- MANAGERS (A) (B) (C)
NAME OF ISSUER OF CLASS CUSIP VALUE AMOUNT SOLE V OTHER SEE INSTR. V SOLE SHARED NONE
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Unilever NV - American Depos. 904784709 518,772 7,615 X 02 06 08 7,615
Rec.
Union Pacific
Corp. - Common Stock 907818108 741,508 15,428 X 02 08 14 15,428
Unisys Corp. - Common Stock 909214108 582,113 12,900 X 02 06 12,900
United Healthcare
Corp. Common Stock 910581107 1,037,337 21,306 X 01 02 06 08 21,306
United Illuminating
Co. Common Stock 910637107 967,500 20,000 X 02 20,000
U.S. West Comm.
Group Common Stock 91273H101 1,641,688 28,770 X 01 02 08 14 28,770
United Stationers,
Inc. Common Stock 913004107 1,265,963 59,400 X 07 11 59,400
United Technologies
Corp. Common Stock 913017109 284,701 4,800 X 02 06 4,800
Universal Health
Services Cl B Common Stock 913903100 646,875 25,000 X 11 25,000
UnumProvident
Corp. - Common Stock 91529Y106 35,751,992 1,214,501 X 1,214,501
UnumProvident
Corp. - Common Stock 91529Y106 204,561 6,949 X 02 08 6,949
USWeb Corp. - Common Stock 917327108 500,963 14,600 X 11 15 14,600
Valero Energy
Corp. - Common Stock 91913Y100 872,025 45,300 X 01 02 07 45,300
Value America,
Inc. - Common Stock 92038N102 168,300 13,200 X 16 13,200
Valuevision Int'l.,
Inc. Common Stock 92047K107 772,200 29,700 X 10 16 28,700
Varco Int'l.,
Inc. - Common Stock 922126107 1,462,500 120,000 X 02 120,000
Varian, Inc. - Common Stock 922206107 692,250 39,000 X 05 15 39,000
Venator Group,
Inc. - Common Stock 922944103 2,456,581 286,900 X 02 286,900
Veritas Software
Corp. Common Stock 923436109 1,131,470 14,900 X 04 05 06 15 14,900
Verity, Inc. - Common Stock 92343C106 1,706,550 24,800 X 05 15 24,800
Veritas Software
1.856%, 08/13/06 Convertible Debt 92343RAA1 263,125 250,000 X 03 250,000
VerticalNet, Inc. - Common Stock 92532L107 880,600 23,800 X 10 15 16 23,800
Viacom, Inc.
Class B - Common Stock 925524308 325,325 7,700 X 02 06 7,700
Viatel, Inc.* - Common Stock 925529208 886,875 30,000 X 16 30,000
Vignette Corp. - Common Stock 926734104 425,350 4,700 X 15 4,700
Vistana, Inc. - Common Stock 92839P108 840,000 56,000 X 16 56,000
Vulcan Materials
Co. - Common Stock 929160109 40,021,513 1,092,964 X 1,092,964
Vulcan Materials
Co. - Common Stock 929160109 146,500 4,000 X 02 14 4,000
Wabash National
Corp. Common Stock 929566107 944,531 46,500 X 02 46,500
Wal-Mart Stores,
Inc. Common Stock 931142103 43,396,026 912,400 X 912,400
Wal-Mart Stores,
Inc. Common Stock 931142103 2,998,532 63,044 X 02 06 08 63,044
Walgreen Co. - Common Stock 931422109 243,600 9,600 X 02 9,600
Wallace Computer
Services, Inc. Common Stock 932270101 1,057,050 52,200 X 11 52,200
Warner-Lambert
Co. - Common Stock 934488107 314,365,109 4,736,864 X 4,736,864
Warner-Lambert
Co. - Common Stock 934488107 1,345,489 20,271 X 02 03 08 14 20,271
Washington Mutual,
Inc. Common Stock 939322103 445,946 15,246 X 02 08 15,246
Washington Post
Cl B - Common Stock 939640108 29,412,001 57,600 X 57,600
Washington Post
Cl B - Common Stock 939640108 6,128 12 X 08 12
Waste Management
Inc (NEW) Common Stock 94106L109 388,793 20,197 X 02 08 20,197
Watsco, Inc. - Common Stock 942622200 553,963 48,700 X 02 07 48,700
Watson Pharm. - Common Stock 942683103 480,443 15,720 X 01 02 08 15,720
Webster Financial
Corp. Common Stock 947890109 2,672,400 104,800 X 02 07 11 104,800
Wellman, Inc. - Common Stock 949702104 1,340,238 74,200 X 02 74,200
-----------
Column Total 496,845,381
</TABLE>
<PAGE> 24
FORM 13F SEPTEMBER 30, 1999
NAME OF REPORTING MANAGER: VILLANOVA MUTUAL FUND CAPITAL TRUST
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
ITEM 1: ITEM 2: ITEM 3: ITEM 4: ITEM 5: ITEM 6: ITEM 7: ITEM 8:
INVESTMENT DISCRETION
(B) SHARED
FAIR SHARES OF AS DEFINED (C)
TITLE MARKET PRINCIPAL (A) IN INSTR. SHARED- MANAGERS (A) (B) (C)
NAME OF ISSUER OF CLASS CUSIP VALUE AMOUNT SOLE V OTHER SEE INSTR. V SOLE SHARED NONE
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Wellpoint Health
Networks, Inc. Common Stock 94973H108 322,620 5,660 X 02 06 08 5,660
Wells Fargo Co. - Common Stock 949746101 135,323,743 3,415,599 X 3,415,599
Wells Fargo Co. - Common Stock 949746101 2,579,034 65,086 X 01 02 08 15 65,086
West Pharmaceutical
Services, Inc. Common Stock 955306105 1,035,694 27,300 X 02 27,300
Westwood One,
Inc. - Common Stock 961815107 1,211,607 26,850 X 10 16 26,850
Weyerhauser Co. - Common Stock 962166104 397,613 6,900 X 02 14 6,900
Whirlpool Corp. - Common Stock 963320106 444,256 6,802 X 02 03 06 08 6,802
Whitehall
Jewellers, Inc. Common Stock 965063100 2,084,375 72,500 X 02 07 72,500
Whitman Corp. - Common Stock 96647R107 285,000 20,000 X 20,000
Whittman-Hart,
Inc. - Common Stock 966834103 1,527,983 39,400 X 05 15 39,400
Whole Foods Market,
Inc.* Common Stock 966837106 549,676 16,800 X 11 16,800
Willamette
Indstrs., Inc. Common Stock 969133107 47,438 1,100 X 02 1,100
Willbros Group,
Inc. - Common Stock 969199108 190,950 26,800 X 11 26,800
Williams Cos.
(The) - Common Stock 969457100 78,805,938 2,105,000 X 2,105,000
Williams Cos.
(The) - Common Stock 969457100 456,738 12,200 X 02 14 12,200
Wind River
Systems - Common Stock 973149107 805,600 42,400 X 11 42,400
Wink
Communications,
Inc. Common Stock 974168106 594,150 13,600 X 05 16 13,600
WinStar Comm.,
Inc. - Common Stock 975515107 605,469 15,500 X 15 15,500
Wolverine Tube,
Inc. - Common Stock 978093102 410,750 26,500 X 02 26,500
Wolverine World
Wide, Inc. Common Stock 978097103 641,550 56,400 X 02 56,400
Woodhead Indstrs,
Inc. Common Stock 979438108 3,705,750 366,000 X 366,000
Xilinx, Inc. - Common Stock 983919101 361,995 5,524 X 04 06 08 15 5,524
Xircom, Inc. - Common Stock 983922105 76,838 1,800 X 07 1,800
Xerox Corp. - Common Stock 984121103 1,110,506 26,480 X 02 03 08 14 26,480
Xomed Surgical
Products, Inc. Common Stock 98412V107 957,600 16,800 X 10 15 16,800
Xoom.com, Inc. - Common Stock 98413F101 619,816 12,490 X 16 12,490
Yellow Corp. - Common Stock 985509108 1,664,531 100,500 X 02 100,500
Young Broadcasting,
Inc. Cl A Common Stock 987434107 497,563 9,500 X 15 9,500
Zebra Technologies
Corp. Common Stock 989207105 16,414,237 361,000 X 361,000
Zebra Technologies
Corp. Cl A Common Stock 989207105 1,523,659 33,510 X 11 33,510
Ziff-Davis, Inc. - Common Stock 989511100 3,582,975 222,200 X 02 222,200
Annuity and Life Re
(Holdings), Ltd. Common Stock G03910109 2,397,950 96,400 X 02 05 10 11 96,400
Central European
Media
EnterprisesLTD Common Stock G20045103 44,375 28,400 X 16 28,400
Gemstar Int'l.
Group Ltd. Common Stock G3788V106 392,579 5,025 X 05 11 15 5,025
Global Crossing,
Ltd - Common Stock G3921A100 887,920 33,506 X 02 08 15 33,506
PartnerRe Ltd. - Common Stock G6852T105 444,800 12,800 X 15 12,800
Renaissance
Insurance Common Stock G7496G103 1,456,875 42,000 X 02 42,000
Santa Fe Int'l.
Corp. Common Stock G7805C108 1,397,250 64,800 X 02 64,800
Scottish Annuity &
Life Holdings
Ltd.* Common Stock G7885T104 347,100 35,600 X 11 35,600
Terra Nova
(Bermuda)
Holdings Ltd. Common Stock G87615103 1,398,863 43,800 X 02 43,800
Transocean
Offshore, Inc. Common Stock G90076103 1,868,126 61,000 X 02 15 61,000
XL Capital Ltd. - Common Stock G98255105 1,192,725 26,505 X 02 08 26,505
Audiocodes Ltd. - Common Stock M15342104 978,250 26,000 X 16 26,000
-----------
Column Total 271,642,462
</TABLE>
<PAGE> 25
FORM 13F SEPTEMBER 30, 1999
NAME OF REPORTING MANAGER: VILLANOVA MUTUAL FUND CAPITAL TRUST
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
ITEM 1: ITEM 2: ITEM 3: ITEM 4: ITEM 5: ITEM 6: ITEM 7: ITEM 8:
INVESTMENT DISCRETION
(B) SHARED
FAIR SHARES OF AS DEFINED (C)
TITLE MARKET PRINCIPAL (A) IN INSTR. SHARED- MANAGERS (A) (B) (C)
NAME OF ISSUER OF CLASS CUSIP VALUE AMOUNT SOLE V OTHER SEE INSTR. V SOLE SHARED NONE
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Check Point
Software Tech. Common Stock M22465104 295,531 3,500 X 15 3,500
Galileo Technology
Ltd. Common Stock M47298100 1,050,000 42,000 X 16 42,000
Gilat Satellite
Networks Common Stock M51474100 1,045,688 19,500 X 16 19,500
ASM Lithography
Hldng NV Common Stock N07059111 449,319 6,700 X 15 6,700
Core Laboratories
N.V. Common Stock N22717107 376,250 20,000 X 15 20,000
Sun International
Hotels Limited Common Stock P8797T133 1,635,438 68,500 X 02 68,500
-------------
Column Total 4,852,225
-------------
Grand Total 7,358,893,780
=============
</TABLE>
