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Previous: OPENTV CORP, F-4/A, 2000-05-15 |
Next: ALLOS THERAPEUTICS, 10-Q, 2000-05-15 |
<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 MARCH 31, 2000
- --------------------------------------------------------------------------------
(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:
Kevin S. Crossett Vice President - Associate General Counsel (484) 530-1323
- --------------------------------------------------------------------------------
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: 28-05161
- --------------------------------------------------------------------------------
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 15th day of
May, 2000.
VILLANOVA MUTUAL FUND CAPITAL TRUST
-----------------------------------
(Name of Institutional Investment Manager)
/s/ KEVIN S. CROSSETT
- --------------------------------------------------------------------------------
KEVIN S. CROSSETT - V.P. - ASSOCIATE GENERAL COUNSEL
(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
Form 13F Information Table Entry Total:
Report Summary Form 13F Information Table Value Total:
Number of Other Included Managers: 14
1,028
$7,491,841
(thousands)
List of Other Included Managers:
NO. FORM 13F FILE NAME
NUMBER
01 28-2682 Brinson Partners
02 28-127 Mellon/Dreyfus
03 28-5680 Federated
05 28-3578 Franklin Templeton
06 28-687 Goldman Sachs
07 28-249 INVESCO
08 28-1482 J.P. Morgan
09 28-6558 Lazard
10 28-465 Miller, Anderson & Sherre
11 28-454 Neuberger & Berman
14 28-2568 Solomon Brothers
15 28-1202 Strong
16 28-496 Warburg Pincus
17 28-791 Merrill Lynch
<PAGE> 3
<TABLE>
<CAPTION>
MAR 31, 2000
NAME OF REPORTING MANAGER: VILLANOVA MUTUAL FUND CAPITAL TRUST
- ---------------------------------------------------------------------------------------------------------------
ITEM 1: ITEM 2: ITEM 3: ITEM 4: ITEM 5:
FAIR SHARES OF
TITLE MARKET PRINCIPAL
NAME OF ISSUER OF CLASS CUSIP VALUE AMOUNT
- ---------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
3 COM CORP. COMMON STOCK 885535104 267,000 4,800
3DO COMPANY COMMON STOCK 88553W105 775,969 80,100
99 CENTS ONLY STORES COMMON STOCK 65440K106 1,679,900 42,800
AAR CORP COMMON STOCK 000361105 1,343,344 80,500
ABBOTT LABS COMMON STOCK 002824100 2,132,363 60,600
ABERCROMBIE & FITCH CO COMMON STOCK 002896207 2,603,200 162,700
ABGENIX INC COMMON STOCK 00339B107 676,813 4,900
ABOUT.COM INCORPORATED COMMON STOCK 003736105 1,991,625 22,600
ACCRUE SOFTWARE INC. COMMON STOCK 00437W102 251,883 5,500
ACT MANUFACTURING COMMON STOCK 000973107 335,625 6,000
ACTEL CORPORATION COMMON STOCK 004934105 1,327,575 37,200
ACTIVE SOFTWARE COMMON STOCK 00504E100 241,716 3,800
ACUSON CORP. COMMON STOCK 005113105 565,838 38,200
ACXIOM CORP. COMMON STOCK 005125109 2,002,980 60,240
ADATIVE BROADBAND CORP COMMON STOCK 00650M104 3,049,500 57,000
ADC TELECOMMUNICATIONS COMMON STOCK 000886101 226,275 4,200
ADELPHIA BUSINESS SOL INC COMMON STOCK 006847107 234,175 3,800
ADOBE SYSTEMS INC COMMON STOCK 00724F101 267,150 2,400
ADVANCE PARADIGM INC COMMON STOCK 007491103 727,938 61,300
ADVANCED DIGITAL INFO COMMON STOCK 007525108 3,219,500 94,000
ADVANCED ENERGY INDUSTRIE COMMON STOCK 007973100 1,943,100 38,100
ADVANCED FIBRE COMM. COMMON STOCK 00754A105 7,177,719 114,500
ADVANCED FIBRE COMM. COMMON STOCK 00754A105 319,706 5,100
ADVANCED MICRO DEVICES COMMON STOCK 007903107 1,004,300 17,600
ADVANCED RADIO TELECOM COMMON STOCK 00754U101 2,086,875 63,000
ADVENT SOFTWARE INC. COMMON STOCK 007974108 1,055,125 23,000
ADVENT SOFTWARE INC. COMMON STOCK 007974108 458,750 10,000
AEROFLEX, INC. COMMON STOCK 007768104 6,142,950 124,100
AES CORP COMMON STOCK 00130H105 212,625 2,700
AETHER SYSTEMS, INC. COMMON STOCK 00808V105 2,268,750 12,500
AGCO CORP COMMON STOCK 001084102 710,938 62,500
AGILE SOFTWARE COMMON STOCK 00846X105 1,187,500 19,000
AIRBORNE FREIGHT CORP. COMMON STOCK 009266107 2,683,200 111,800
AIRGATE PCS, INC. COMMON STOCK 009367103 4,378,250 41,500
AIRNET COMMMUNICATIONS COMMON STOCK 00941P106 230,588 6,600
AK STEEL HOLDING CORP. COMMON STOCK 001547108 1,523,641 146,857
AKAMAI TECHNOLOGIES, INC. COMMON STOCK 00971T101 241,219 1,500
</TABLE>
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
ITEM 1: ITEM 6: ITEM 7: ITEM 8:
INVESTMENT DISCRETION
(b) SHARED AS
(a) SOLE DEFINED IN (c) SHARED- MANAGERS
NAME OF ISSUER INSTR. V OTHER SEE INSTR. V (a) SOLE (b) SHARED (c) NONE
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
3 COM CORP. X 17 4,800
3DO COMPANY X 16 80,100
99 CENTS ONLY STORES X 11 42,800
AAR CORP X 11 80,500
ABBOTT LABS X 17 03 06 14 60,600
ABERCROMBIE & FITCH CO X 02 162,700
ABGENIX INC X 16 4,900
ABOUT.COM INCORPORATED X 15 11 16 22,600
ACCRUE SOFTWARE INC. X 05 5,500
ACT MANUFACTURING X 05 6,000
ACTEL CORPORATION X 02 37,200
ACTIVE SOFTWARE X 11 3,800
ACUSON CORP. X 11 38,200
ACXIOM CORP. X 16 60,240
ADATIVE BROADBAND CORP X 16 57,000
ADC TELECOMMUNICATIONS X 17 4,200
ADELPHIA BUSINESS SOL INC X 10 3,800
ADOBE SYSTEMS INC X 06 2,400
ADVANCE PARADIGM INC X 16 61,300
ADVANCED DIGITAL INFO X 15 94,000
ADVANCED ENERGY INDUSTRIE X 16 38,100
ADVANCED FIBRE COMM. X 02 16 114,500
ADVANCED FIBRE COMM. X 5,100
ADVANCED MICRO DEVICES X 01 17,600
ADVANCED RADIO TELECOM X 15 63,000
ADVENT SOFTWARE INC. X 15 23,000
ADVENT SOFTWARE INC. X 10,000
AEROFLEX, INC. X 15 02 05 124,100
AES CORP X 17 2,700
AETHER SYSTEMS, INC. X 15 16 12,500
AGCO CORP X 02 62,500
AGILE SOFTWARE X 15 19,000
AIRBORNE FREIGHT CORP. X 16 111,800
AIRGATE PCS, INC. X 15 10 11 41,500
AIRNET COMMMUNICATIONS X 16 6,600
AK STEEL HOLDING CORP. X 02 146,857
AKAMAI TECHNOLOGIES, INC. X 1,500
</TABLE>
<PAGE> 4
<TABLE>
<CAPTION>
MAR 31, 2000
NAME OF REPORTING MANAGER: VILLANOVA MUTUAL FUND CAPITAL TRUST
- ---------------------------------------------------------------------------------------------------------------
ITEM 1: ITEM 2: ITEM 3: ITEM 4: ITEM 5:
FAIR SHARES OF
TITLE MARKET PRINCIPAL
NAME OF ISSUER OF CLASS CUSIP VALUE AMOUNT
- ---------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
ALBERTO-CULV CO - CL A COMMON STOCK 013068200 2,915,938 133,300
ALCATEL ALSTHOM CGE ADR ADR 013904305 701,000 16,000
ALCOA INC. COMMON STOCK 013817101 344,225 4,900
ALKERMES INC COMMON STOCK 01642T108 4,477,000 48,400
ALLAIRE CORP. COMMON STOCK 016714107 302,500 4,000
ALLEN GROUP COMMON STOCK 018091108 2,067,094 129,700
ALLERGAN INC COMMON STOCK 018490102 33,990,000 679,800
ALLIANT TECHSYSTEMS INC COMMON STOCK 018804104 2,148,938 36,500
ALLSTATE FINANCIAL COMMON STOCK 020002101 1,447,800 60,800
ALLSTATE FINANCIAL COMMON STOCK 020002101 52,030,313 2,185,000
ALLTEL CORP COMMON STOCK 020039103 971,163 15,400
ALLTEL CORP COMMON STOCK 020039103 98,890,955 1,568,142
ALPHA INDUSTRIES INC. COMMON STOCK 020753109 5,130,000 54,000
ALPHARMA INC-CL A COMMON STOCK 020813101 2,116,800 57,600
ALTEON WEBSYSTEMS COMMON STOCK 02145A109 287,000 3,500
ALTERA CORPORATION COMMON STOCK 021441100 919,275 10,300
ALTERA CORPORATION COMMON STOCK 021441100 20,081,250 225,000
ALZA COMMON STOCK 022615108 924,038 24,600
AMAZON.COM 4.75% 02 01 09 CONVERTIBLE BOND 023135AF3 233,100 240,000
AMAZON.COM INC COMMON STOCK 023135106 23,450,000 350,000
AMDOCS AUTOMATIC CONV PFD PREFERRED STOCK 02342R202 465,000 7,500
AMER ONLINE 4.0% 11/15/02 CONVERTIBLE BOND 02364JAB0 490,188 50,000
AMERADA HESS CORP COMMON STOCK 023551104 413,600 6,400
AMERICA ONLINE COMMON STOCK 02364J104 3,597,875 53,500
AMERICAN CLASSIC VOYAGES COMMON STOCK 024928103 1,365,163 54,200
AMERICAN EAGLE OUTFITTERS COMMON STOCK 02553E106 288,325 7,600
AMERICAN ELEC POWER INC COMMON STOCK 025537101 313,031 10,500
AMERICAN EXPRESS CO COMMON STOCK 025816109 1,206,394 8,100
AMERICAN GENERAL CORP COMMON STOCK 026351106 774,525 13,800
AMERICAN HOME PRODUCTS COMMON STOCK 026609107 2,713,425 50,600
AMERICAN HOME PRODUCTS COMMON STOCK 026609107 41,865,038 780,700
AMERICAN INT'L GROUP COMMON STOCK 026874107 4,290,648 39,184
AMERICAN INT'L GROUP COMMON STOCK 026874107 77,935,859 711,743
AMERICAN NATIONAL CAN COMMON STOCK 027714104 2,625,000 200,000
AMERICAN POWER CONVER. COMMON STOCK 029066107 252,963 5,900
AMERICAN POWER CONVER. COMMON STOCK 029066107 385,875 9,000
AMERICAN SUPERCONDUCTOR COMMON STOCK 030111108 200,250 4,500
</TABLE>
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
ITEM 1: ITEM 6: ITEM 7: ITEM 8:
INVESTMENT DISCRETION
(b) SHARED AS
(a) SOLE DEFINED IN (c) SHARED- MANAGERS
NAME OF ISSUER INSTR. V OTHER SEE INSTR. V (a) SOLE (b) SHARED (c) NONE
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
ALBERTO-CULV CO - CL A X 02 11 133,300
ALCATEL ALSTHOM CGE ADR X 14 16,000
ALCOA INC. X 17 4,900
ALKERMES INC X 16 15 48,400
ALLAIRE CORP. X 05 4,000
ALLEN GROUP X 02 129,700
ALLERGAN INC X 679,800
ALLIANT TECHSYSTEMS INC X 11 36,500
ALLSTATE FINANCIAL X 14 03 17 60,800
ALLSTATE FINANCIAL X 2,185,000
ALLTEL CORP X 15 17 15,400
ALLTEL CORP X 1,568,142
ALPHA INDUSTRIES INC. X 15 16 54,000
ALPHARMA INC-CL A X 07 02 57,600
ALTEON WEBSYSTEMS X 3,500
ALTERA CORPORATION X 08 02 10,300
ALTERA CORPORATION X 225,000
ALZA X 15 08 24,600
AMAZON.COM 4.75% 02 01 09 X 03 240,000
AMAZON.COM INC X 350,000
AMDOCS AUTOMATIC CONV PFD X 03 7,500
AMER ONLINE 4.0% 11/15/02 X 03 50,000
AMERADA HESS CORP X 14 6,400
AMERICA ONLINE X 17 06 08 53,500
AMERICAN CLASSIC VOYAGES X 16 54,200
AMERICAN EAGLE OUTFITTERS X 11 7,600
AMERICAN ELEC POWER INC X 14 10,500
AMERICAN EXPRESS CO X 06 17 8,100
AMERICAN GENERAL CORP X 01 17 13,800
AMERICAN HOME PRODUCTS X 17 15 08 14 50,600
AMERICAN HOME PRODUCTS X 780,700
AMERICAN INT'L GROUP X 17 14 06 01 08 39,184
AMERICAN INT'L GROUP X 711,743
AMERICAN NATIONAL CAN X 02 200,000
AMERICAN POWER CONVER. X 02 5,900
AMERICAN POWER CONVER. X 9,000
AMERICAN SUPERCONDUCTOR X 4,500
</TABLE>
<PAGE> 5
<TABLE>
<CAPTION>
MAR 31, 2000
NAME OF REPORTING MANAGER: VILLANOVA MUTUAL FUND CAPITAL TRUST
- ---------------------------------------------------------------------------------------------------------------
ITEM 1: ITEM 2: ITEM 3: ITEM 4: ITEM 5:
FAIR SHARES OF
TITLE MARKET PRINCIPAL
NAME OF ISSUER OF CLASS CUSIP VALUE AMOUNT
- ---------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
AMERICAN TOWER CORP COMMON STOCK 029912201 1,357,813 27,500
AMERICREDIT COMMON STOCK 03060R101 2,525,175 154,800
AMERIPATH INC. COMMON STOCK 03071D109 113,750 14,000
AMERISOURCE HEALTH CL A COMMON STOCK 03071P102 1,015,500 67,700
AMERITRADE HOLDING COMMON STOCK 03072H109 6,267,188 300,000
AMES DEPT STORES INC COMMON STOCK 030789507 1,176,544 47,900
AMFM INC. COMMON STOCK 001693100 1,801,563 28,999
AMGEN, INC. COMMON STOCK 031162100 1,743,050 28,400
AMGEN, INC. COMMON STOCK 031162100 13,741,863 223,900
AMKOR TECHNOLOGY INC. COMMON STOCK 031652100 222,863 4,200
AMSOUTH BANC CORPK COMMON STOCK 032165102 455,295 30,480
ANALOG DEVICES COMMON STOCK 032654105 652,556 8,100
ANALYSTS INTERNATIONAL COMMON STOCK 032681108 338,713 34,300
ANDRX CORP. COMMON STOCK 034551101 3,291,750 28,500
ANHEUSER BUSCH CO., INC. COMMON STOCK 035229103 1,624,725 26,100
ANHEUSER BUSCH CO., INC. COMMON STOCK 035229103 24,022,275 385,900
ANNTAYLOR STORES CORP COMMON STOCK 036115103 3,576,500 155,500
ANNUITY AND LIFE RE COMMON STOCK G03910109 3,302,000 127,000
ANTEC CORP COMMON STOCK 03664P105 2,151,000 48,000
APEX INC. COMMON STOCK 037548104 1,856,250 50,000
APPLE COMPUTER INC COMMON STOCK 037833100 5,642,738 41,548
APPLIED MATERIALS INC COMMON STOCK 038222105 1,819,025 19,300
APPLIED MATERIALS INC COMMON STOCK 038222105 16,022,500 170,000
APPLIED MICRO CIRCUITS COMMON STOCK 03822W109 9,003,750 60,000
APPLIED POWER INC. COMMON STOCK 038225108 1,214,100 42,600
APTARGROUP, INC. COMMON STOCK 038336103 3,095,750 116,000
ARCH CHEMICALS INC. COMMON STOCK 03937R102 1,690,000 84,500
ARROW ELECTRONICS INC COMMON STOCK 042735100 4,344,563 123,250
ARROWPOINT COMMUNICATIONS COMMON STOCK 042810101 236,969 2,000
ART TECHNOLOGY GRP COMMON STOCK 04289L107 315,300 4,800
ARTESYN TECHNOLOGIES INC. COMMON STOCK 043127109 2,304,694 121,700
ARTISAN COMPONENTS INC COMMON STOCK 042923102 237,463 12,100
ASM LITH 4.25% 11/30/04 CONVERTIBLE BOND 00207EAB6 130,350 110,000
ASM LITHOGRAPHY HOLD. NV COMMON STOCK N07059111 1,452,750 13,000
ASPECT DEVELOPMENT INC COMMON STOCK 045234101 3,946,188 61,300
ASSOCIATES FIRST CAPITAL COMMON STOCK 046008108 548,800 25,600
ASSOCIATES FIRST CAPITAL COMMON STOCK 046008108 48,995,063 2,285,484
</TABLE>
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
ITEM 1: ITEM 6: ITEM 7: ITEM 8:
INVESTMENT DISCRETION
(b) SHARED AS
(a) SOLE DEFINED IN (c) SHARED- MANAGERS
NAME OF ISSUER INSTR. V OTHER SEE INSTR. V (a) SOLE (b) SHARED (c) NONE
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
AMERICAN TOWER CORP X 15 27,500
AMERICREDIT X 16 02 154,800
AMERIPATH INC. X 02 14,000
AMERISOURCE HEALTH CL A X 02 67,700
AMERITRADE HOLDING X 300,000
AMES DEPT STORES INC X 16 47,900
AMFM INC. X 02 28,999
AMGEN, INC. X 17 06 08 28,400
AMGEN, INC. X 223,900
AMKOR TECHNOLOGY INC. X 07 4,200
AMSOUTH BANC CORPK X 01 30,480
ANALOG DEVICES X 17 06 8,100
ANALYSTS INTERNATIONAL X 11 34,300
ANDRX CORP. X 02 28,500
ANHEUSER BUSCH CO., INC. X 14 17 26,100
ANHEUSER BUSCH CO., INC. X 385,900
ANNTAYLOR STORES CORP X 16 02 11 155,500
ANNUITY AND LIFE RE X 02 11 127,000
ANTEC CORP X 16 48,000
APEX INC. X 02 50,000
APPLE COMPUTER INC X 15 03 06 08 17 41,548
APPLIED MATERIALS INC X 17 06 08 19,300
APPLIED MATERIALS INC X 170,000
APPLIED MICRO CIRCUITS X 02 60,000
APPLIED POWER INC. X 02 42,600
APTARGROUP, INC. X 11 116,000
ARCH CHEMICALS INC. X 02 84,500
ARROW ELECTRONICS INC X 15 02 123,250
ARROWPOINT COMMUNICATIONS X 2,000
ART TECHNOLOGY GRP X 4,800
ARTESYN TECHNOLOGIES INC. X 02 121,700
ARTISAN COMPONENTS INC X 11 12,100
ASM LITH 4.25% 11/30/04 X 03 110,000
ASM LITHOGRAPHY HOLD. NV X 15 13,000
ASPECT DEVELOPMENT INC X 16 15 61,300
ASSOCIATES FIRST CAPITAL X 14 17 25,600
ASSOCIATES FIRST CAPITAL X 2,285,484
</TABLE>
<PAGE> 6
<TABLE>
<CAPTION>
MAR 31, 2000
NAME OF REPORTING MANAGER: VILLANOVA MUTUAL FUND CAPITAL TRUST
- ---------------------------------------------------------------------------------------------------------------
ITEM 1: ITEM 2: ITEM 3: ITEM 4: ITEM 5:
FAIR SHARES OF
TITLE MARKET PRINCIPAL
NAME OF ISSUER OF CLASS CUSIP VALUE AMOUNT
- ---------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
ASYST TECHOLOGIES INC. COMMON STOCK 04648X107 5,352,750 91,500
AT HOME CORP - SER A COMMON STOCK 045919107 1,070,469 32,500
AT&T CORP COMMON STOCK 001957109 4,686,975 83,324
AT&T CORP-LIBERTY MEDIA COMMON STOCK 001957208 693,225 11,700
ATLANTIC RICHFIELD CO. COMMON STOCK 048825103 382,500 4,500
ATMEL CORP COMMON STOCK 049513104 1,894,638 36,700
AUDIOCODES LTD. COMMON STOCK M15342104 1,866,975 18,600
AUTOMATIC DATA PROC COMMON STOCK 053015103 400,475 8,300
AUTOMATIC DATA PROC COMMON STOCK 053015103 21,712,500 450,000
AVANT! CORPORATION COMMON STOCK 053487104 498,750 39,900
AVIALL, INC. COMMON STOCK 05366B102 419,344 49,700
AVNET INC. COMMON STOCK 053807103 5,241,600 83,200
AVON PRODUCTS COMMON STOCK 054303102 552,188 19,000
AWARE INC. / MASS COMMON STOCK 05453N100 2,106,563 52,500
AXA FINANCIAL, INC. COMMON STOCK 002451102 178,707,725 4,981,400
AZTAR CORP. COMMON STOCK 054802103 115,900 12,200
BACKWEB TECHNOLOGIES COMMON STOCK M15633106 1,966,250 57,200
BANK OF AMERICA CORP. COMMON STOCK 060505104 3,524,482 67,213
BANK OF NEW YORK INC COMMON STOCK 064057102 419,781 10,100
BANK OF NEW YORK INC COMMON STOCK 064057102 21,180,250 509,600
BANK ONE CORP COMMON STOCK 06423A103 1,829,919 53,234
BANK ONE CORP COMMON STOCK 06423A103 51,284,063 1,491,900
BANK UNITED CORP. COMMON STOCK 065412108 246,188 7,800
BARRA INC. COMMON STOCK 068313105 2,703,225 79,800
BAUSCH & LOMB INC COMMON STOCK 071707103 574,063 11,000
BAXTER INTERNATIONAL COMMON STOCK 071813109 677,025 10,800
BCE, INC. COMMON STOCK 05534B109 1,003,500 8,000
BEA SYSTEMS COMMON STOCK 073325102 1,614,250 22,000
BED BATH & BEYOND COMMON STOCK 075896100 17,718,750 450,000
BELDEN INC COMMON STOCK 077459105 2,200,000 80,000
BELL ATLANTIC COMMON STOCK 077853109 2,781,188 45,500
BELLSOUTH CORP COMMON STOCK 079860102 1,207,900 25,700
BEN AND JERRY'S INC. COMMON STOCK 081465106 1,235,100 36,800
BENCHMARK ELECTRONICS-BHE COMMON STOCK 08160H101 784,400 21,200
BERINGER WINE ESTATES COMMON STOCK 084102102 200,900 5,600
BERKSHIRE HATHAWAY COMMON STOCK 084670108 52,624,000 920
BERKSHIRE HATHAWAY CL-B COMMON STOCK 084670207 768,040 422
</TABLE>
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
ITEM 1: ITEM 6: ITEM 7: ITEM 8:
INVESTMENT DISCRETION
(b) SHARED AS
(a) SOLE DEFINED IN (c) SHARED- MANAGERS
NAME OF ISSUER INSTR. V OTHER SEE INSTR. V (a) SOLE (b) SHARED (c) NONE
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
ASYST TECHOLOGIES INC. X 15 16 11 91,500
AT HOME CORP - SER A X 15 32,500
AT&T CORP X 14 01 17 08 83,324
AT&T CORP-LIBERTY MEDIA X 03 11,700
ATLANTIC RICHFIELD CO. X 17 4,500
ATMEL CORP X 15 02 36,700
AUDIOCODES LTD. X 16 18,600
AUTOMATIC DATA PROC X 17 8,300
AUTOMATIC DATA PROC X 450,000
AVANT! CORPORATION X 16 39,900
AVIALL, INC. X 11 49,700
AVNET INC. X 15 02 83,200
AVON PRODUCTS X 14 19,000
AWARE INC. / MASS X 02 52,500
AXA FINANCIAL, INC. X 4,981,400
AZTAR CORP. X 07 12,200
BACKWEB TECHNOLOGIES X 16 57,200
BANK OF AMERICA CORP. X 15 14 01 17 03 67,213
BANK OF NEW YORK INC X 17 10,100
BANK OF NEW YORK INC X 509,600
BANK ONE CORP X 17 08 01 53,234
BANK ONE CORP X 1,491,900
BANK UNITED CORP. X 07 7,800
BARRA INC. X 11 02 79,800
BAUSCH & LOMB INC X 14 11,000
BAXTER INTERNATIONAL X 03 17 10,800
BCE, INC. X 14 8,000
BEA SYSTEMS X 15 22,000
BED BATH & BEYOND X 450,000
BELDEN INC X 02 80,000
BELL ATLANTIC X 17 14 01 45,500
BELLSOUTH CORP X 17 25,700
BEN AND JERRY'S INC. X 16 36,800
BENCHMARK ELECTRONICS-BHE X 11 21,200
BERINGER WINE ESTATES X 10 5,600
BERKSHIRE HATHAWAY X 920
BERKSHIRE HATHAWAY CL-B X 14 422
</TABLE>
<PAGE> 7
<TABLE>
<CAPTION>
MAR 31, 2000
NAME OF REPORTING MANAGER: VILLANOVA MUTUAL FUND CAPITAL TRUST
- ---------------------------------------------------------------------------------------------------------------
ITEM 1: ITEM 2: ITEM 3: ITEM 4: ITEM 5:
FAIR SHARES OF
TITLE MARKET PRINCIPAL
NAME OF ISSUER OF CLASS CUSIP VALUE AMOUNT
- ---------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
BEST BUY COMMON STOCK 086516101 240,800 2,800
BINDVIEW DEVELOPMENT CORP COMMON STOCK 090327107 1,584,188 51,000
BIOGEN, INC. COMMON STOCK 090597105 2,054,325 29,400
BJ SERVICES COMMON STOCK 055482103 6,988,575 94,600
BLACK AND DECKER CORP COMMON STOCK 091797100 109,092,769 2,904,300
BLACK BOX CORP. COMMON STOCK 091826107 1,710,089 24,700
BLOCK DRUG COMMON STOCK 093644102 581,486 21,097
BLUESTONE SOFTWARE COMMON STOCK 09623P102 607,500 18,000
BMC SOFTWARE COMMON STOCK 055921100 207,375 4,200
BMC SOFTWARE COMMON STOCK 055921100 124,425,000 2,520,000
BOEING COMPANY COMMON STOCK 097023105 682,875 18,000
BORG-WARNER AUTO COMMON STOCK 099724106 763,875 19,400
BOWNE & CO. COMMON STOCK 103043105 1,044,163 81,100
BP AMOCO ADR ADR 055622104 779,594 14,692
BREAKAWAY SOLUTIONS, INC. COMMON STOCK 106372105 627,900 13,800
BRIGHTPOINT, INC. COMMON STOCK 109473108 209,475 17,100
BRINKER INTL. INC. COMMON STOCK 109641100 1,050,938 35,400
BRIO TECHNOLOGY INC. COMMON STOCK 109704106 536,050 14,200
BRISTOL MYERS SQUIBB CO. COMMON STOCK 110122108 3,678,675 63,700
BRISTOL MYERS SQUIBB CO. COMMON STOCK 110122108 107,536,275 1,862,100
BROADBASE SOFTWARE COMMON STOCK 11130R100 1,036,750 13,000
BROADCOM CORP COMMON STOCK 111320107 2,185,875 9,000
BROADCOM CORP COMMON STOCK 111320107 242,875 1,000
BROADVISION, INC. COMMON STOCK 111412102 1,678,325 37,400
BROADWING INC. COMMON STOCK 111620100 1,788,719 48,100
BROADWING INC. COMMON STOCK 111620100 260,313 7,000
BROCADE COMMUNICATIONS COMMON STOCK 111621108 2,151,750 12,000
BROCADE COMMUNICATIONS COMMON STOCK 111621108 376,556 2,100
BROWN & BROWN INC. COMMON STOCK 115236101 634,475 16,400
BROWN SHOE CO., INC. COMMON STOCK 115736100 1,302,000 108,500
BRUNSWICK CORP COMMON STOCK 117043109 40,056,600 2,115,200
BURLINGTON COAT FACTORY W COMMON STOCK 121579106 2,155,313 125,400
BURLINGTON NORTH SANTA FE COMMON STOCK 12189T104 681,450 30,800
BURR-BROWN CORP. COMMON STOCK 122574106 2,661,656 48,950
BUSINESS OBJECTS ADR ADR 12328X107 2,855,650 28,700
CABOT OIL & GAS CORP., CL COMMON STOCK 127097103 652,056 36,100
CACI INTL. CLASS A COMMON STOCK 127190304 778,375 26,000
</TABLE>
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
ITEM 1: ITEM 6: ITEM 7: ITEM 8:
INVESTMENT DISCRETION
(b) SHARED AS
(a) SOLE DEFINED IN (c) SHARED- MANAGERS
NAME OF ISSUER INSTR. V OTHER SEE INSTR. V (a) SOLE (b) SHARED (c) NONE
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
BEST BUY X 17 2,800
BINDVIEW DEVELOPMENT CORP X 15 51,000
BIOGEN, INC. X 15 06 29,400
BJ SERVICES X 15 16 15 94,600
BLACK AND DECKER CORP X 2,904,300
BLACK BOX CORP. X 11 24,700
BLOCK DRUG X 11 21,097
BLUESTONE SOFTWARE X 16 18,000
BMC SOFTWARE X 08 4,200
BMC SOFTWARE X 2,520,000
BOEING COMPANY X 17 08 18,000
BORG-WARNER AUTO X 15 19,400
BOWNE & CO. X 02 81,100
BP AMOCO ADR X 14 03 14,692
BREAKAWAY SOLUTIONS, INC. X 16 13,800
BRIGHTPOINT, INC. X 05 17,100
BRINKER INTL. INC. X 11 35,400
BRIO TECHNOLOGY INC. X 11 05 14,200
BRISTOL MYERS SQUIBB CO. X 06 14 17 03 08 63,700
BRISTOL MYERS SQUIBB CO. X 1,862,100
BROADBASE SOFTWARE X 16 13,000
BROADCOM CORP X 15 9,000
BROADCOM CORP X 1,000
BROADVISION, INC. X 15 07 37,400
BROADWING INC. X 02 15 48,100
BROADWING INC. X 7,000
BROCADE COMMUNICATIONS X 15 12,000
BROCADE COMMUNICATIONS X 2,100
BROWN & BROWN INC. X 11 16,400
BROWN SHOE CO., INC. X 02 108,500
BRUNSWICK CORP X 2,115,200
BURLINGTON COAT FACTORY W X 02 125,400
BURLINGTON NORTH SANTA FE X 01 30,800
BURR-BROWN CORP. X 16 48,950
BUSINESS OBJECTS ADR X 16 28,700
CABOT OIL & GAS CORP., CL X 11 36,100
CACI INTL. CLASS A X 11 26,000
</TABLE>
<PAGE> 8
<TABLE>
<CAPTION>
MAR 31, 2000
NAME OF REPORTING MANAGER: VILLANOVA MUTUAL FUND CAPITAL TRUST
- ---------------------------------------------------------------------------------------------------------------
ITEM 1: ITEM 2: ITEM 3: ITEM 4: ITEM 5:
FAIR SHARES OF
TITLE MARKET PRINCIPAL
NAME OF ISSUER OF CLASS CUSIP VALUE AMOUNT
- ---------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
CADENCE DESIGN SYSTEMS COMMON STOCK 127387108 666,075 32,100
CAL DIVE INTERNATIONAL COMMON STOCK 127914109 1,314,425 25,900
CANADIAN NATIONAL RAIL COMMON STOCK 136375102 1,030,138 38,600
CAPITAL AUTO REIT COMMON STOCK 139733109 207,600 17,300
CAPITAL ONE FINANCIAL COMMON STOCK 14040H105 292,419 6,100
CARNIVAL CRUISE LINES COMMON STOCK 143658102 200,981 8,100
CAROLINA POWER LIGHT CO COMMON STOCK 144141108 723,356 22,300
CATERPILLAR INC COMMON STOCK 149123101 201,131 5,100
CATERPILLAR INC COMMON STOCK 149123101 5,915,625 150,000
CBS CORPORATION COMMON STOCK 12490K107 823,781 14,548
CELESTICA, INC. COMMON STOCK 15101Q108 3,077,625 58,000
CELL PATHWAYS, INC. COMMON STOCK 15114R101 1,718,750 50,000
CENTRAL & SOUTH WEST CORP COMMON STOCK 152357109 684,206 40,100
CENTRAL NEWSPAPERS COMMON STOCK 154647101 1,260,938 37,500
CERIDAN CORP. COMMON STOCK 15677T106 57,656,519 3,004,900
CH ENERGY GROUP INC COMMON STOCK 12541M102 255,150 8,400
CHARTER COMM. INC. COMMON STOCK 16117M107 200,594 14,000
CHASE MANHATTAN CORP COMMON STOCK 16161A108 3,034,125 34,800
CHECK POINT SOFTWARE TECH COMMON STOCK M22465104 1,368,500 8,000
CHECKFREE HOLDINGS CORP. COMMON STOCK 162816102 1,128,000 16,000
CHEVRON CORPORATION COMMON STOCK 166751107 1,506,731 16,300
CHIREX INC COMMON STOCK 170038103 490,875 25,500
CHIRON CORP. COMMON STOCK 170040109 274,313 5,500
CHUBB CORPORATION COMMON STOCK 171232101 1,743,113 25,800
CHUBB CORPORATION COMMON STOCK 171232101 48,645,000 720,000
CHURCH AND DWIGHT, INC COMMON STOCK 171340102 1,596,719 92,900
CIBER INC. COMMON STOCK 17163B102 1,890,100 92,200
CIENA CORP. COMMON STOCK 171779101 13,255,738 105,100
CIGNA CORP COMMON STOCK 125509109 552,975 7,300
CINAR CORPORATION COMMON STOCK 171905300 472,500 67,500
CIRCLE INTERNATIONAL COMMON STOCK 172574105 538,200 20,700
CISCO SYSTEMS COMMON STOCK 17275R102 13,003,963 168,200
CISCO SYSTEMS COMMON STOCK 17275R102 94,993,869 1,228,700
CITIGROUP INC. COMMON STOCK 172967101 3,827,139 64,525
CITRIX SYS 03/22/19 CONVERTIBLE BOND 177376AB6 443,900 460,000
CITRIX SYS 0% 03/22/19 CONVERTIBLE BOND 177376AA8 221,950 230,000
CK WITCO CORPORATION COMMON STOCK 12562C108 1,759,381 172,700
</TABLE>
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
ITEM 1: ITEM 6: ITEM 7: ITEM 8:
INVESTMENT DISCRETION
(b) SHARED AS
(a) SOLE DEFINED IN (c) SHARED- MANAGERS
NAME OF ISSUER INSTR. V OTHER SEE INSTR. V (a) SOLE (b) SHARED (c) NONE
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
CADENCE DESIGN SYSTEMS X 15 32,100
CAL DIVE INTERNATIONAL X 11 11 25,900
CANADIAN NATIONAL RAIL X 15 14 38,600
CAPITAL AUTO REIT X 07 17,300
CAPITAL ONE FINANCIAL X 08 6,100
CARNIVAL CRUISE LINES X 17 8,100
CAROLINA POWER LIGHT CO X 01 22,300
CATERPILLAR INC X 17 5,100
CATERPILLAR INC X 150,000
CBS CORPORATION X 17 08 14,548
CELESTICA, INC. X 15 58,000
CELL PATHWAYS, INC. X 50,000
CENTRAL & SOUTH WEST CORP X 01 40,100
CENTRAL NEWSPAPERS X 11 37,500
CERIDAN CORP. X 3,004,900
CH ENERGY GROUP INC X 11 8,400
CHARTER COMM. INC. X 14,000
CHASE MANHATTAN CORP X 17 14 15 03 34,800
CHECK POINT SOFTWARE TECH X 15 8,000
CHECKFREE HOLDINGS CORP. X 15 16,000
CHEVRON CORPORATION X 17 03 01 16,300
CHIREX INC X 16 25,500
CHIRON CORP. X 02 5,500
CHUBB CORPORATION X 15 03 14 25,800
CHUBB CORPORATION X 720,000
CHURCH AND DWIGHT, INC X 11 92,900
CIBER INC. X 11 92,200
CIENA CORP. X 105,100
CIGNA CORP X 14 7,300
CINAR CORPORATION X 02 67,500
CIRCLE INTERNATIONAL X 11 20,700
CISCO SYSTEMS X 08 03 17 06 08 168,200
CISCO SYSTEMS X 1,228,700
CITIGROUP INC. X 03 08 17 64,525
CITRIX SYS 03/22/19 X 03 460,000
CITRIX SYS 0% 03/22/19 X 03 230,000
CK WITCO CORPORATION X 02 172,700
</TABLE>
<PAGE> 9
<TABLE>
<CAPTION>
MAR 31, 2000
NAME OF REPORTING MANAGER: VILLANOVA MUTUAL FUND CAPITAL TRUST
- ---------------------------------------------------------------------------------------------------------------
ITEM 1: ITEM 2: ITEM 3: ITEM 4: ITEM 5:
FAIR SHARES OF
TITLE MARKET PRINCIPAL
NAME OF ISSUER OF CLASS CUSIP VALUE AMOUNT
- ---------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
CLAIRE'S STORES INC. COMMON STOCK 179584107 1,398,356 69,700
CLARUS CORP. COMMON STOCK 182707109 1,108,813 15,700
CLEAR CHANNEL COMM. COMMON STOCK 184502102 324,594 4,700
CLECO CORP. COMMON STOCK 12561W105 1,330,000 40,000
CMS ENERGY CORPORATION COMMON STOCK 125896100 322,625 17,800
COACHMEN INDUSTRIES, INC. COMMON STOCK 189873102 281,775 20,400
COCA COLA CO. COMMON STOCK 191216100 3,337,256 71,100
COGNEX COMMON STOCK 192422103 634,563 11,000
COHERENT, INC. COMMON STOCK 192479103 2,168,400 41,700
COLGATE PALMOLIVE COMMON STOCK 194162103 439,725 7,800
COLUMBIA/HCA HEALTHCARE COMMON STOCK 197677107 463,219 18,300
COMCAST CORP SPECIAL COMMON STOCK 200300200 537,850 12,400
COMCAST CORP SPECIAL COMMON STOCK 200300200 47,886,000 1,104,000
COMCAST CORP-CL A COMMON STOCK 200300101 24,750,000 600,000
COMDISCO INCORPORATED COMMON STOCK 200336105 202,975 4,600
COMMERCE ONE, INC. COMMON STOCK 200693109 1,119,375 7,500
COMMERCE ONE, INC. COMMON STOCK 200693109 268,650 1,800
COMMUNITY FIRST COMMON STOCK 203902101 352,000 22,000
COMPAQ COMPUTER CORP COMMON STOCK 204493100 1,307,288 49,100
COMPLETE BUSINESS SOL. COMMON STOCK 20452F107 850,250 38,000
COMPUTER ASSOCIATES INC. COMMON STOCK 204912109 426,150 7,200
COMPUTER SCIENCE COMMON STOCK 205363104 625,088 7,900
COMVERSE COMMON STOCK 205862402 207,900 1,100
CONAGRA, INC. COMMON STOCK 205887102 235,625 13,000
CONCORD EFS INC. COMMON STOCK 206197105 11,468,750 500,000
CONEXANT 4% 2/01/2007 CONVERTIBLE BOND 207142AD2 141,050 155,000
CONOCO INC CL A COMMON STOCK 208251306 790,463 32,100
CONOCO INC. CL. B COMMON STOCK 208251405 595,038 23,221
CONSOLIDATED STORES COMMON STOCK 210149100 2,356,900 207,200
CONSORCIO 8.00% 08/08/04 CONVERTIBLE BOND 210306AB2 3,052,140 7,826,000
COOPER CAMERON CORP COMMON STOCK 216640102 2,474,375 37,000
COOPER INDUSTRIES INC COMMON STOCK 216669101 203,000 5,800
CORDANT TECHNOLOGIES INC. COMMON STOCK 218412104 3,110,938 55,000
CORE INC COMMON STOCK 21867P102 384,975 70,800
CORINTHIAN COLLEGES COMMON STOCK 218868107 164,800 10,300
CORNING INC COMMON STOCK 219350105 1,532,600 7,900
CORNING INC COMMON STOCK 219350105 19,885,000 102,500
</TABLE>
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
ITEM 1: ITEM 6: ITEM 7: ITEM 8:
INVESTMENT DISCRETION
(b) SHARED AS
(a) SOLE DEFINED IN (c) SHARED- MANAGERS
NAME OF ISSUER INSTR. V OTHER SEE INSTR. V (a) SOLE (b) SHARED (c) NONE
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
CLAIRE'S STORES INC. X 11 69,700
CLARUS CORP. X 16 15,700
CLEAR CHANNEL COMM. X 17 4,700
CLECO CORP. X 02 40,000
CMS ENERGY CORPORATION X 01 17,800
COACHMEN INDUSTRIES, INC. X 11 20,400
COCA COLA CO. X 14 17 06 08 71,100
COGNEX X 11,000
COHERENT, INC. X 02 16 41,700
COLGATE PALMOLIVE X 17 7,800
COLUMBIA/HCA HEALTHCARE X 17 08 18,300
COMCAST CORP SPECIAL X 17 12,400
COMCAST CORP SPECIAL X 1,104,000
COMCAST CORP-CL A X 600,000
COMDISCO INCORPORATED X 02 4,600
COMMERCE ONE, INC. X 15 7,500
COMMERCE ONE, INC. X 1,800
COMMUNITY FIRST X 11 22,000
COMPAQ COMPUTER CORP X 14 17 49,100
COMPLETE BUSINESS SOL. X 15 38,000
COMPUTER ASSOCIATES INC. X 17 7,200
COMPUTER SCIENCE X 01 7,900
COMVERSE X 17 1,100
CONAGRA, INC. X 06 13,000
CONCORD EFS INC. X 500,000
CONEXANT 4% 2/01/2007 X 03 155,000
CONOCO INC CL A X 15 32,100
CONOCO INC. CL. B X 03 17 23,221
CONSOLIDATED STORES X 02 207,200
CONSORCIO 8.00% 08/08/04 X 7,826,000
COOPER CAMERON CORP X 16 08 37,000
COOPER INDUSTRIES INC X 14 5,800
CORDANT TECHNOLOGIES INC. X 02 55,000
CORE INC X 16 70,800
CORINTHIAN COLLEGES X 11 10,300
CORNING INC X 17 03 06 7,900
CORNING INC X 102,500
</TABLE>
<PAGE> 10
<TABLE>
<CAPTION>
MAR 31, 2000
NAME OF REPORTING MANAGER: VILLANOVA MUTUAL FUND CAPITAL TRUST
- ---------------------------------------------------------------------------------------------------------------
ITEM 1: ITEM 2: ITEM 3: ITEM 4: ITEM 5:
FAIR SHARES OF
TITLE MARKET PRINCIPAL
NAME OF ISSUER OF CLASS CUSIP VALUE AMOUNT
- ---------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
CORPORATE EXE. BOARD COMMON STOCK 21988R102 989,625 19,500
CORPORATE SERVICES GRP RT RIGHT 0334420 15,414 161,033
COSTCO WHOLESALE CORP. COMMON STOCK 22160K105 1,156,375 22,000
COX COMM CONV PFD PREFERRED STOCK 224044503 786,500 6,500
CREDENCE SYSTEMS CORP. COMMON STOCK 225302108 4,504,500 36,000
CRITICAL PATH INC. COMMON STOCK 22674V100 2,320,500 27,300
CROSS TIMBERS OIL CO. COMMON STOCK 227573102 749,788 57,400
CTC COMMUNICATIONS GRP COMMON STOCK 126419100 3,167,038 74,300
CUBE MICROSYSTEMS COMMON STOCK 125015107 1,135,875 15,600
CUBIST PHARMACEUTICALS COMMON STOCK 229678107 2,093,750 50,000
CULLEN/FROST BANKERS COMMON STOCK 229899109 1,414,406 53,500
CUMULUS MEDIA INC. COMMON STOCK 231082108 1,180,188 82,100
CUNO INC COMMON STOCK 126583103 333,638 12,300
CVC INC. COMMON STOCK 126945104 238,125 7,500
CVS CORP COMMON STOCK 126650100 5,634,375 150,000
CYBERGOLD INC COMMON STOCK 23246N105 175,225 16,300
CYBERSOURCE CORP COMMON STOCK 23251J106 726,375 19,500
CYMER INC. COMMON STOCK 232572107 1,130,000 22,600
CYPRESS 6.00% 10/01/02 CONVERTIBLE BOND 232806AD1 249,150 120,000
CYPRESS COMMUNICATIONS COMMON STOCK 232743104 906,500 37,000
CYSIVE INC. COMMON STOCK 23281T108 924,750 13,500
CYTYC CORP. COMMON STOCK 232946103 1,471,625 30,500
DAIMLERCHRYSLER AG COMMON STOCK D1668R123 330,852 5,056
DAIN RAUSCHER CORP. COMMON STOCK 233856103 1,186,875 18,000
DALLAS SEMI-CONDUCTORS COMMON STOCK 235204104 2,290,150 65,200
DANA CORP COMMON STOCK 235811106 727,238 25,800
DATASCOPE COMMON STOCK 238113104 555,625 17,500
DAVOX CORP. COMMON STOCK 239208101 754,350 28,200
DEAN FOODS CO COMMON STOCK 242361103 1,746,775 65,300
DELL COMPUTER CORP COMMON STOCK 247025109 2,238,406 41,500
DELL COMPUTER CORP COMMON STOCK 247025109 97,087,500 1,800,000
DELTA & PINE LAND CO COMMON STOCK 247357106 728,775 36,900
DENTSPLY INTERNATIONAL COMMON STOCK 249030107 1,472,663 51,900
DEVON ENERGY CORPORATION COMMON STOCK 25179M103 2,428,125 50,000
DEVRY INC. COMMON STOCK 251893103 1,049,200 34,400
DIGI INTERNATIONAL COMMON STOCK 253798102 867,650 93,800
DIGIT ISLND 6.0% 02/15/05 CONVERTIBLE BOND 25385NAA9 166,500 240,000
</TABLE>
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
ITEM 1: ITEM 6: ITEM 7: ITEM 8:
INVESTMENT DISCRETION
(b) SHARED AS
(a) SOLE DEFINED IN (c) SHARED- MANAGERS
NAME OF ISSUER INSTR. V OTHER SEE INSTR. V (a) SOLE (b) SHARED (c) NONE
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
CORPORATE EXE. BOARD X 15 19,500
CORPORATE SERVICES GRP RT X 09 161,033
COSTCO WHOLESALE CORP. X 17 14 22,000
COX COMM CONV PFD X 03 6,500
CREDENCE SYSTEMS CORP. X 15 15 36,000
CRITICAL PATH INC. X 15 27,300
CROSS TIMBERS OIL CO. X 11 57,400
CTC COMMUNICATIONS GRP X 16 74,300
CUBE MICROSYSTEMS X 16 15,600
CUBIST PHARMACEUTICALS X 02 50,000
CULLEN/FROST BANKERS X 11 53,500
CUMULUS MEDIA INC. X 02 82,100
CUNO INC X 05 12,300
CVC INC. X 05 7,500
CVS CORP X 150,000
CYBERGOLD INC X 11 16,300
CYBERSOURCE CORP X 15 19,500
CYMER INC. X 16 22,600
CYPRESS 6.00% 10/01/02 X 03 120,000
CYPRESS COMMUNICATIONS X 15 37,000
CYSIVE INC. X 15 13,500
CYTYC CORP. X 15 30,500
DAIMLERCHRYSLER AG X 14 5,056
DAIN RAUSCHER CORP. X 15 18,000
DALLAS SEMI-CONDUCTORS X 11 65,200
DANA CORP X 15 25,800
DATASCOPE X 11 17,500
DAVOX CORP. X 11 28,200
DEAN FOODS CO X 02 65,300
DELL COMPUTER CORP X 17 06 41,500
DELL COMPUTER CORP X 1,800,000
DELTA & PINE LAND CO X 11 36,900
DENTSPLY INTERNATIONAL X 11 51,900
DEVON ENERGY CORPORATION X 02 50,000
DEVRY INC. X 16 34,400
DIGI INTERNATIONAL X 02 93,800
DIGIT ISLND 6.0% 02/15/05 X 03 240,000
</TABLE>
<PAGE> 11
<TABLE>
<CAPTION>
MAR 31, 2000
NAME OF REPORTING MANAGER: VILLANOVA MUTUAL FUND CAPITAL TRUST
- ---------------------------------------------------------------------------------------------------------------
ITEM 1: ITEM 2: ITEM 3: ITEM 4: ITEM 5:
FAIR SHARES OF
TITLE MARKET PRINCIPAL
NAME OF ISSUER OF CLASS CUSIP VALUE AMOUNT
- ---------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
DIGITAL LIGHTWAVE COMMON STOCK 253855100 841,219 13,500
DIGITAL MICROWAVE COMMON STOCK 253859102 6,741,125 199,000
DIGITAL MICROWAVE COMMON STOCK 253859102 220,188 6,500
DIONEX CORP. COMMON STOCK 254546104 1,235,156 37,500
DITECH COMM CORP COMMON STOCK 25500M103 5,091,000 48,000
DIVERSA COMMON STOCK 255064107 502,900 10,700
DOCUMENTUM INC COMMON STOCK 256159104 3,946,800 50,600
DOMINION RESCS INC OF VA COMMON STOCK 25746U109 553,500 14,400
DONALDSON CO INC. COMMON STOCK 257651109 1,019,825 45,200
DONCASTERS PLC ADR ADR 257692103 224,138 25,800
DORAL FINANCIAL CORP. COMMON STOCK 25811P100 905,000 80,000
DOUBLE CL 4.75% 03/15/06 CONVERTIBLE BOND 258609AC0 228,500 100,000
DOW CHEMICAL COMPANY COMMON STOCK 260543103 1,219,800 10,700
DSP GROUP, INC. COMMON STOCK 23332B106 1,960,200 29,700
DU PONT E I DE NEMOURS COMMON STOCK 263534109 1,590,692 30,084
DU PONT E I DE NEMOURS COMMON STOCK 263534109 33,702,525 637,400
DUANE READE INC COMMON STOCK 263578106 2,092,500 90,000
DUCOMMUN INC. COMMON STOCK 264147109 203,963 22,200
DUKE POWER COMPANY COMMON STOCK 264399106 273,000 5,200
DUN & BRADSTREET NEW COMMON STOCK 26483B106 16,785,700 586,400
DYNERGY INC COMMON STOCK 26816Q101 269,825 4,300
E*TRADE GROUP, INC. COMMON STOCK 269246104 265,100 8,800
E.PIPHANY INC. COMMON STOCK 26881V100 1,642,819 12,300
E.W. BLANCH HOLDINGS, INC COMMON STOCK 093210102 1,062,000 53,100
EASTMAN KODAK COMPANY COMMON STOCK 277461109 803,825 14,800
EATON CORP COMMON STOCK 278058102 27,654,900 354,550
ECHOSTAR COMMUNICATIONS A COMMON STOCK 278762109 1,264,000 16,000
ECI TELECOM LTD. COMMON STOCK 268258100 662,013 21,100
EDISON INTL. COMMON STOCK 281020107 207,031 12,500
ELCOR CORP. COMMON STOCK 284443108 203,550 5,900
ELECTRO SCIENTIFIC IND COMMON STOCK 285229100 2,320,000 40,000
ELECTRONIC DATA SYSTEMS COMMON STOCK 285661104 1,071,931 16,700
ELECTRONICS FOR IMAGING COMMON STOCK 286082102 12,000,000 200,000
ELI LILLY AND COMPANY COMMON STOCK 532457108 1,455,300 23,100
EMC CORPORATION COMMON STOCK 268648102 3,346,500 26,772
EMC CORPORATION COMMON STOCK 268648102 31,250,000 250,000
EMERGE INTERACTIVE INC COMMON STOCK 29088W103 1,524,325 50,600
</TABLE>
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
ITEM 1: ITEM 6: ITEM 7: ITEM 8:
INVESTMENT DISCRETION
(b) SHARED AS
(a) SOLE DEFINED IN (c) SHARED- MANAGERS
NAME OF ISSUER INSTR. V OTHER SEE INSTR. V (a) SOLE (b) SHARED (c) NONE
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
DIGITAL LIGHTWAVE X
15 13,500
DIGITAL MICROWAVE X
15 199,000
DIGITAL MICROWAVE X
6,500
DIONEX CORP. X
11 37,500
DITECH COMM CORP X
15 48,000
DIVERSA X
16 10,700
DOCUMENTUM INC X
15 16 05 50,600
DOMINION RESCS INC OF VA X
01 14,400
DONALDSON CO INC. X
11 45,200
DONCASTERS PLC ADR X
11 25,800
DORAL FINANCIAL CORP. X
02 80,000
DOUBLE CL 4.75% 03/15/06 X
03 100,000
DOW CHEMICAL COMPANY X
01 17 06 10,700
DSP GROUP, INC. X
16 29,700
DU PONT E I DE NEMOURS X
17 01 03 30,084
DU PONT E I DE NEMOURS X
637,400
DUANE READE INC X
02 90,000
DUCOMMUN INC. X
11 22,200
DUKE POWER COMPANY X
17 5,200
DUN & BRADSTREET NEW X
586,400
DYNERGY INC X
02 4,300
E*TRADE GROUP, INC. X
02 8,800
E.PIPHANY INC. X
15 12,300
E.W. BLANCH HOLDINGS, INC X
02 53,100
EASTMAN KODAK COMPANY X
17 14 14,800
EATON CORP X
354,550
ECHOSTAR COMMUNICATIONS A X
15 16,000
ECI TELECOM LTD. X
15 21,100
EDISON INTL. X
14 12,500
ELCOR CORP. X
07 5,900
ELECTRO SCIENTIFIC IND X
15 40,000
ELECTRONIC DATA SYSTEMS X
17 01 16,700
ELECTRONICS FOR IMAGING X
200,000
ELI LILLY AND COMPANY X
17 08 23,100
EMC CORPORATION X 17 6 03 08 26,772
EMC CORPORATION X 250,000
EMERGE INTERACTIVE INC X 16 50,600
</TABLE>
<PAGE> 12
<TABLE>
<CAPTION>
MAR 31, 2000
NAME OF REPORTING MANAGER: VILLANOVA MUTUAL FUND CAPITAL TRUST
- ---------------------------------------------------------------------------------------------------------------
ITEM 1: ITEM 2: ITEM 3: ITEM 4: ITEM 5:
FAIR SHARES OF
TITLE MARKET PRINCIPAL
NAME OF ISSUER OF CLASS CUSIP VALUE AMOUNT
- ---------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
EMERSON ELEC CO COM COMMON STOCK 291011104 1,131,525 21,400
EMISPHERE TECH INC COMMON STOCK 291345106 223,063 4,300
EMMIS BROADCASTING - A COMMON STOCK 291525103 2,278,500 49,000
EMULEX CORPORATION COMMON STOCK 292475209 1,746,000 16,000
ENHANCE FINANCIAL SERVICE COMMON STOCK 293310108 413,863 29,300
ENRON CORP COMMON STOCK 293561106 1,782,025 23,800
ENSCO INTERNATIONAL INC COMMON STOCK 26874Q100 1,589,500 44,000
ENTERCOM COMMUNICATIONS COMMON STOCK 293639100 1,540,200 30,200
ESPEED COMMON STOCK 296643109 204,263 3,900
E-TEK DYNAMICS INC. COMMON STOCK 269240107 3,811,050 16,200
EVEREST RE GROUP LTD COMMON STOCK G3223R108 6,531,525 200,200
EXCHANGE APPLICATIONS COMMON STOCK 300867108 2,143,336 40,500
EXODUS COM 4.75% 07/15/08 CONVERTIBLE BOND 302088AG4 514,063 250,000
EXODUS COM 4.75% 07/15/08 CONVERTIBLE BOND 302088AJ8 82,250 40,000
EXODUS COMMUNICATIONS COMMON STOCK 302088109 1,896,750 13,500
EXODUS COMMUNICATIONS COMMON STOCK 302088109 14,471,500 103,000
EXPEDITORS INTL WASH COMMON STOCK 302130109 2,237,925 56,300
EXTREME NETWORKS COMMON STOCK 30226D106 2,212,000 28,000
EXXON MOBIL CORP. COMMON STOCK 30231G102 7,092,921 91,154
EXXON MOBIL CORP. COMMON STOCK 30231G102 110,104,688 1,415,000
F5 NETWORKS INC. COMMON STOCK 315616102 1,117,875 16,500
FACTORY 2-U STORES INC. COMMON STOCK 303072102 202,500 8,100
FAIR ISSAC & CO. INC. COMMON STOCK 303250104 2,278,075 58,600
FAIRFIELD COMMUNITIES COMMON STOCK 304231301 472,281 59,500
FAMILY DOLLAR STORES COMMON STOCK 307000109 763,819 36,700
FANNIE MAE COMMON STOCK 313586109 1,749,563 31,000
FANNIE MAE COMMON STOCK 313586109 143,893,050 2,549,600
FBL FINANCIAL GROUP CL A COMMON STOCK 30239F106 534,000 35,600
FEDEX CORP COMMON STOCK 31428X106 1,688,700 43,300
FIFTH THIRD BANCORP COMMON STOCK 316773100 277,200 4,400
FILENET CORP. COMMON STOCK 316869106 731,850 24,600
FINLAY ENTERPRISES COMMON STOCK 317884203 491,269 39,900
FINOVA GROUP INC. COMMON STOCK 317928109 717,894 42,700
FIRST DATA COMMON STOCK 319963104 531,000 12,000
FIRST DATA COMMON STOCK 319963104 89,256,675 2,017,100
FIRST MIDWEST BANCORP INC COMMON STOCK 320867104 1,782,375 73,500
FIRST UNION COMMON STOCK 337358105 1,035,550 27,800
</TABLE>
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
ITEM 1: ITEM 6: ITEM 7: ITEM 8:
INVESTMENT DISCRETION
(b) SHARED AS
(a) SOLE DEFINED IN (c) SHARED- MANAGERS
NAME OF ISSUER INSTR. V OTHER SEE INSTR. V (a) SOLE (b) SHARED (c) NONE
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
EMERSON ELEC CO COM X 03 01 17 21,400
EMISPHERE TECH INC X 11 4,300
EMMIS BROADCASTING - A X 02 49,000
EMULEX CORPORATION X 16 16,000
ENHANCE FINANCIAL SERVICE X 16 29,300
ENRON CORP X 17 08 03 23,800
ENSCO INTERNATIONAL INC X 15 44,000
ENTERCOM COMMUNICATIONS X 16 30,200
ESPEED X 11 3,900
E-TEK DYNAMICS INC. X 15 16,200
EVEREST RE GROUP LTD X 02 02 200,200
EXCHANGE APPLICATIONS X 15 40,500
EXODUS COM 4.75% 07/15/08 X 03 250,000
EXODUS COM 4.75% 07/15/08 X 03 40,000
EXODUS COMMUNICATIONS X 15 13,500
EXODUS COMMUNICATIONS X 103,000
EXPEDITORS INTL WASH X 02 56,300
EXTREME NETWORKS X 15 28,000
EXXON MOBIL CORP. X 03 17 08 01 14 91,154
EXXON MOBIL CORP. X 1,415,000
F5 NETWORKS INC. X 15 16,500
FACTORY 2-U STORES INC. X 11 8,100
FAIR ISSAC & CO. INC. X 11 58,600
FAIRFIELD COMMUNITIES X 16 59,500
FAMILY DOLLAR STORES X 15 36,700
FANNIE MAE X 15 17 08 31,000
FANNIE MAE X 2,549,600
FBL FINANCIAL GROUP CL A X 11 35,600
FEDEX CORP X 01 15 43,300
FIFTH THIRD BANCORP X 17 4,400
FILENET CORP. X 15 24,600
FINLAY ENTERPRISES X 02 39,900
FINOVA GROUP INC. X 02 42,700
FIRST DATA X 17 06 12,000
FIRST DATA X 2,017,100
FIRST MIDWEST BANCORP INC X 02 73,500
FIRST UNION X 14 17 27,800
</TABLE>
<PAGE> 13
<TABLE>
<CAPTION>
MAR 31, 2000
NAME OF REPORTING MANAGER: VILLANOVA MUTUAL FUND CAPITAL TRUST
- ---------------------------------------------------------------------------------------------------------------
ITEM 1: ITEM 2: ITEM 3: ITEM 4: ITEM 5:
FAIR SHARES OF
TITLE MARKET PRINCIPAL
NAME OF ISSUER OF CLASS CUSIP VALUE AMOUNT
- ---------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
FIRST UNION COMMON STOCK 337358105 26,782,750 719,000
FIRSTAR CORP COMMON STOCK 33763V109 301,101 13,127
FLEETBOSTON FINANCIAL COMMON STOCK 339030108 1,431,384 39,216
FLEMING COS., INC. COMMON STOCK 339130106 1,033,288 68,600
FLUOR COMMON STOCK 343861100 3,568,100 115,100
FORD MOTOR CO DEL COMMON STOCK 345370100 1,185,188 25,800
FORD MOTOR CO DEL COMMON STOCK 345370100 29,473,500 641,600
FOREST LABS, INC. COMMON STOCK 345838106 1,444,950 17,100
FORTUNE BRANDS INC. COMMON STOCK 349631101 6,742,500 269,700
FOSSIL, INC. COMMON STOCK 349882100 993,750 42,400
FOSTER WHEELER CORP COMMON STOCK 350244109 958,500 142,000
FOUNDATION HLTH SYSTEMS A COMMON STOCK 350404109 1,158,400 144,800
FOUNDRY NETWORKS INC COMMON STOCK 35063R100 2,055,625 14,300
FRANKLIN RES INC COMMON STOCK 354613101 735,625 22,000
FREDDIE MAC COMMON STOCK 313400301 698,163 15,800
FREDDIE MAC COMMON STOCK 313400301 3,314,063 75,000
FREEMARKETS INC. COMMON STOCK 356602102 1,452,000 12,000
FRONTLINE CAP GROUP COMMON STOCK 35921N101 1,249,600 28,400
GANNETT INC COMMON STOCK 364730101 281,500 4,000
GANNETT INC COMMON STOCK 364730101 22,224,425 315,800
GAP INC COMMON STOCK 364760108 1,051,044 21,100
GARDNER DENVER MACHINERY COMMON STOCK 365558105 590,713 31,400
GARTNER GROUP INC COMMON STOCK 366651107 30,707,775 1,949,700
GATEWAY INC COMMON STOCK 367626108 2,872,600 54,200
GAYLORD CONTAINER CORP-A COMMON STOCK 368145108 734,400 115,200
GENE LOGIC INC. COMMON STOCK 368689105 702,444 16,700
GENERAL ELECTRIC COMPANY COMMON STOCK 369604103 13,284,050 85,600
GENERAL ELECTRIC COMPANY COMMON STOCK 369604103 89,279,369 575,300
GENERAL MILLS, INC. COMMON STOCK 370334104 416,156 11,500
GENERAL MILLS, INC. COMMON STOCK 370334104 13,599,263 375,800
GENERAL MOTORS CORP COMMON STOCK 370442105 1,399,531 16,900
GENERAL SEMICONDUCTOR,INC COMMON STOCK 370787103 3,115,350 180,600
GENESIS MICROCHIP INC COMMON STOCK 371933102 500,250 23,000
GEON COMPANY COMMON STOCK 37246W105 2,130,650 99,100
GEORGIA GULF CORP COMMON STOCK 373200203 26,135,200 1,005,200
GETTY IMAGES INC. COMMON STOCK 374276103 2,821,094 78,500
GILAT SATELLITE COMMON STOCK M51474100 3,318,175 28,300
</TABLE>
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
ITEM 1: ITEM 6: ITEM 7: ITEM 8:
INVESTMENT DISCRETION
(b) SHARED AS
(a) SOLE DEFINED IN (c) SHARED- MANAGERS
NAME OF ISSUER INSTR. V OTHER SEE INSTR. V (a) SOLE (b) SHARED (c) NONE
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
FIRST UNION X 719,000
FIRSTAR CORP X 17 13,127
FLEETBOSTON FINANCIAL X 01 17 14 39,216
FLEMING COS., INC. X 02 68,600
FLUOR X 02 115,100
FORD MOTOR CO DEL X 03 17 25,800
FORD MOTOR CO DEL X 641,600
FOREST LABS, INC. X 15 02 17,100
FORTUNE BRANDS INC. X 269,700
FOSSIL, INC. X 02 42,400
FOSTER WHEELER CORP X 02 142,000
FOUNDATION HLTH SYSTEMS A X 16 144,800
FOUNDRY NETWORKS INC X 15 14,300
FRANKLIN RES INC X 15 22,000
FREDDIE MAC X 03 17 15,800
FREDDIE MAC X 75,000
FREEMARKETS INC. X 15 12,000
FRONTLINE CAP GROUP X 16 28,400
GANNETT INC X 17 4,000
GANNETT INC X 315,800
GAP INC X 17 08 21,100
GARDNER DENVER MACHINERY X 11 31,400
GARTNER GROUP INC X 1,949,700
GATEWAY INC X 15 17 54,200
GAYLORD CONTAINER CORP-A X 02 115,200
GENE LOGIC INC. X 16 16,700
GENERAL ELECTRIC COMPANY X 06 14 08 03 17 08 85,600
GENERAL ELECTRIC COMPANY X 575,300
GENERAL MILLS, INC. X 03 11,500
GENERAL MILLS, INC. X 375,800
GENERAL MOTORS CORP X 17 15 16,900
GENERAL SEMICONDUCTOR,INC X 02 180,600
GENESIS MICROCHIP INC X 15 23,000
GEON COMPANY X 02 99,100
GEORGIA GULF CORP X 1,005,200
GETTY IMAGES INC. X 16 15 78,500
GILAT SATELLITE X 16 15 28,300
</TABLE>
<PAGE> 14
<TABLE>
<CAPTION>
MAR 31, 2000
NAME OF REPORTING MANAGER: VILLANOVA MUTUAL FUND CAPITAL TRUST
- ---------------------------------------------------------------------------------------------------------------
ITEM 1: ITEM 2: ITEM 3: ITEM 4: ITEM 5:
FAIR SHARES OF
TITLE MARKET PRINCIPAL
NAME OF ISSUER OF CLASS CUSIP VALUE AMOUNT
- ---------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
GILLETTE CO. COMMON STOCK 375766102 1,654,481 43,900
GLOBAL CROSSING ADR G3921A100 707,605 17,285
GLOBAL INDUSTRIES LTD COMMON STOCK 379336100 6,072,300 415,200
GLOBESPAN COMMON STOCK 379571102 1,121,313 11,000
GOLDMAN SACHS GROUP INC. COMMON STOCK 38141G104 346,913 3,300
GRAINGER W.W. INC. COMMON STOCK 384802104 569,625 10,500
GRANITE COMMON STOCK 387328107 2,025,000 75,000
GREENPOINT FINANCIAL CORP COMMON STOCK 395384100 474,925 24,200
GREY WOLF INCORPORATED COMMON STOCK 397888108 1,717,144 436,100
GTE CORP. COMMON STOCK 362320103 1,164,400 16,400
GUIDANT CORP COMMON STOCK 401698105 247,013 4,200
GUIDANT CORP COMMON STOCK 401698105 12,350,625 210,000
H.J. HEINZ COMMON STOCK 423074103 544,050 15,600
HAEMONETICS CORP. COMMON STOCK 405024100 1,590,750 70,700
HALLIBURTON CO COMMON STOCK 406216101 237,800 5,800
HANNA (M.A.) CO. COMMON STOCK 410522106 1,957,063 173,000
HANOVER COMPRESSOR CO COMMON STOCK 410768105 491,969 8,650
HARMONIC LIGHTWAVES COMMON STOCK 413160102 1,123,875 13,500
HARTE-HANKS, INC COMMON STOCK 416196103 1,588,125 70,000
HEALTH MANAGEMENT ASSOC COMMON STOCK 421933102 1,781,250 125,000
HEALTHEON CORPORATION COMMON STOCK 422209106 862,500 37,500
HEALTHSOUTH CORP COMMON STOCK 421924101 534,000 96,000
HEILIG MEYERS COMMON STOCK 422893107 931,219 236,500
HELLER FINANCIAL INC COMMON STOCK 423328103 2,247,750 97,200
HELMERICH & PAYNE INC. COMMON STOCK 423452101 601,400 19,400
HEWLETT PACKARD COMMON STOCK 428236103 2,558,456 19,300
HEWLETT PACKARD COMMON STOCK 428236103 176,705,813 1,333,000
HI/FN INC. COMMON STOCK 428358105 1,496,438 23,000
HIBERNIA CORP CLASS A COMMON STOCK 428656102 454,650 43,300
HOME DEPOT COMMON STOCK 437076102 3,980,295 61,710
HOME DEPOT COMMON STOCK 437076102 25,800,000 400,000
HONEYWELL INTERNATIONAL COMMON STOCK 438516106 807,436 15,325
HONEYWELL INTERNATIONAL COMMON STOCK 438516106 30,160,274 572,437
HORACE MANN EDUCATORS COMMON STOCK 440327104 389,031 21,100
HORACE MANN EDUCATORS COMMON STOCK 440327104 19,018,281 1,031,500
HORMEL FOODS CORP COMMON STOCK 440452100 410,938 25,000
HOUSEHOLD INT'L COMMON STOCK 441815107 843,263 22,600
</TABLE>
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
ITEM 1: ITEM 6: ITEM 7: ITEM 8:
INVESTMENT DISCRETION
(b) SHARED AS
(a) SOLE DEFINED IN (c) SHARED- MANAGERS
NAME OF ISSUER INSTR. V OTHER SEE INSTR. V (a) SOLE (b) SHARED (c) NONE
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
GILLETTE CO. X 14 17 08 43,900
GLOBAL CROSSING X 17 08 17,285
GLOBAL INDUSTRIES LTD X 02 02 11 415,200
GLOBESPAN X 15 11,000
GOLDMAN SACHS GROUP INC. X 08 3,300
GRAINGER W.W. INC. X 01 10,500
GRANITE X 02 75,000
GREENPOINT FINANCIAL CORP X 01 24,200
GREY WOLF INCORPORATED X 15 10 436,100
GTE CORP. X 17 08 16,400
GUIDANT CORP X 17 4,200
GUIDANT CORP X 210,000
H.J. HEINZ X 14 15,600
HAEMONETICS CORP. X 11 70,700
HALLIBURTON CO X 17 5,800
HANNA (M.A.) CO. X 02 173,000
HANOVER COMPRESSOR CO X 07 11 8,650
HARMONIC LIGHTWAVES X 15 13,500
HARTE-HANKS, INC X 02 70,000
HEALTH MANAGEMENT ASSOC X 15 125,000
HEALTHEON CORPORATION X 15 37,500
HEALTHSOUTH CORP X 15 96,000
HEILIG MEYERS X 02 236,500
HELLER FINANCIAL INC X 02 97,200
HELMERICH & PAYNE INC. X 11 19,400
HEWLETT PACKARD X 17 06 19,300
HEWLETT PACKARD X 1,333,000
HI/FN INC. X 15 23,000
HIBERNIA CORP CLASS A X 01 43,300
HOME DEPOT X 06 08 17 03 61,710
HOME DEPOT X 400,000
HONEYWELL INTERNATIONAL X 17 14 15,325
HONEYWELL INTERNATIONAL X 572,437
HORACE MANN EDUCATORS X 14 21,100
HORACE MANN EDUCATORS X 1,031,500
HORMEL FOODS CORP X 14 25,000
HOUSEHOLD INT'L X 01 17 22,600
</TABLE>
<PAGE> 15
<TABLE>
<CAPTION>
MAR 31, 2000
NAME OF REPORTING MANAGER: VILLANOVA MUTUAL FUND CAPITAL TRUST
- ---------------------------------------------------------------------------------------------------------------
ITEM 1: ITEM 2: ITEM 3: ITEM 4: ITEM 5:
FAIR SHARES OF
TITLE MARKET PRINCIPAL
NAME OF ISSUER OF CLASS CUSIP VALUE AMOUNT
- ---------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
HOUSEHOLD INT'L COMMON STOCK 441815107 29,850,000 800,000
HUDSON UNITED BANCORP COMMON STOCK 444165104 223,381 10,300
HUSSMANN INTERNATIONAL COMMON STOCK 448110106 595,044 46,900
HYPERCOM CORP. COMMON STOCK 44913M105 1,114,838 65,100
I B M COMMON STOCK 459200101 8,307,200 70,400
I B M COMMON STOCK 459200101 181,826,200 1,540,900
IBP INC COMMON STOCK 449223106 211,050 13,400
ICN PHARMACEUTICALS, INC. COMMON STOCK 448924100 705,775 25,900
IDEC PHARMACEUTICALS CORP COMMON STOCK 449370105 2,554,500 26,000
IDEX CORP. COMMON STOCK 45167R104 1,302,550 47,800
ILLINOIS TOOL WORKS COMMON STOCK 452308109 613,275 11,100
ILLINOIS TOOL WORKS COMMON STOCK 452308109 15,800,727 285,986
IMC GLOBAL INC COMMON STOCK 449669100 2,156,125 146,800
IMMUNEX CORP. COMMON STOCK 452528102 2,283,750 36,000
IMMUNEX CORP. COMMON STOCK 452528102 3,171,875 50,000
IMPERIAL BANCORP COMMON STOCK 452556103 249,984 8,064
IMS HEALTH INC. COMMON STOCK 449934108 14,722,075 869,200
IN FOCUS SYSTEMS INC. COMMON STOCK 452919103 2,077,125 58,000
IND NATUZZI ADR ADR 456478106 914,594 79,100
INDEPENDENT ENERGY HLDGS ADR 45384X108 300,663 6,700
INDUSTRIAL & FIN SYS RGT RIGHT 5915143 124,832 58,300
INFINITY BROADCASTING COMMON STOCK 45662S102 200,725 6,200
INFORMATICA CORP. COMMON STOCK 45666Q102 2,534,813 33,000
INFORMIX CORP. COMMON STOCK 456779107 5,583,447 329,650
INFOSPACE.COM INC. COMMON STOCK 45678T102 1,977,950 13,600
INGERSOLL-RAND PREFERRED STOCK 456867209 270,250 11,500
INGRAM MICRO INCORP. COMMON STOCK 457153104 4,218,900 274,400
INKTOMI CORP COMMON STOCK 457277101 429,000 2,200
INNKEEPERS USA TRUST COMMON STOCK 4576J0104 243,750 30,000
INSIGHT ENTERPRISES INC COMMON STOCK 45765U103 360,731 9,900
INSITUFORM TECH-CL A COMMON STOCK 457667103 211,313 6,900
INTEGRATED DEVICE TECH COMMON STOCK 458118106 4,422,150 111,600
INTEL CORPORATION COMMON STOCK 458140100 10,602,498 80,360
INTEL CORPORATION COMMON STOCK 458140100 180,952,281 1,371,500
INTERGRATED SILICON SOLUT COMMON STOCK 45812P107 4,563,956 155,700
INTERIM SERVICES INC. COMMON STOCK 45868P100 1,123,031 60,500
INTERLEAF INC. COMMON STOCK 458729209 1,781,300 37,900
</TABLE>
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
ITEM 1: ITEM 6: ITEM 7: ITEM 8:
INVESTMENT DISCRETION
(b) SHARED AS
(a) SOLE DEFINED IN (c) SHARED- MANAGERS
NAME OF ISSUER INSTR. V OTHER SEE INSTR. V (a) SOLE (b) SHARED (c) NONE
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
HOUSEHOLD INT'L X 800,000
HUDSON UNITED BANCORP X 11 10,300
HUSSMANN INTERNATIONAL X 11 46,900
HYPERCOM CORP. X 02 65,100
I B M X 17 01 14 06 03 08 70,400
I B M X 1,540,900
IBP INC X 06 13,400
ICN PHARMACEUTICALS, INC. X 15 25,900
IDEC PHARMACEUTICALS CORP X 02 26,000
IDEX CORP. X 11 47,800
ILLINOIS TOOL WORKS X 01 17 11,100
ILLINOIS TOOL WORKS X 285,986
IMC GLOBAL INC X 01 02 146,800
IMMUNEX CORP. X 15 36,000
IMMUNEX CORP. X 50,000
IMPERIAL BANCORP X 07 8,064
IMS HEALTH INC. X 869,200
IN FOCUS SYSTEMS INC. X 15 58,000
IND NATUZZI ADR X 09 79,100
INDEPENDENT ENERGY HLDGS X 11 6,700
INDUSTRIAL & FIN SYS RGT X 09 58,300
INFINITY BROADCASTING X 06 6,200
INFORMATICA CORP. X 15 33,000
INFORMIX CORP. X 02 329,650
INFOSPACE.COM INC. X 15 16 13,600
INGERSOLL-RAND X 03 11,500
INGRAM MICRO INCORP. X 02 274,400
INKTOMI CORP X 2,200
INNKEEPERS USA TRUST X 05 30,000
INSIGHT ENTERPRISES INC X 11 9,900
INSITUFORM TECH-CL A X 07 6,900
INTEGRATED DEVICE TECH X 15 15 11 111,600
INTEL CORPORATION X 17 06 08 03 14 08 80,360
INTEL CORPORATION X 1,371,500
INTERGRATED SILICON SOLUT X 15 02 155,700
INTERIM SERVICES INC. X 02 60,500
INTERLEAF INC. X 16 37,900
</TABLE>
<PAGE> 16
<TABLE>
<CAPTION>
MAR 31, 2000
NAME OF REPORTING MANAGER: VILLANOVA MUTUAL FUND CAPITAL TRUST
- ---------------------------------------------------------------------------------------------------------------
ITEM 1: ITEM 2: ITEM 3: ITEM 4: ITEM 5:
FAIR SHARES OF
TITLE MARKET PRINCIPAL
NAME OF ISSUER OF CLASS CUSIP VALUE AMOUNT
- ---------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
INTERLINK ELECTRONICS INC COMMON STOCK 458751104 6,437,813 67,500
INTERLINK ELECTRONICS INC COMMON STOCK 458751104 286,125 3,000
INTERNATIONAL PAPER COMMON STOCK 460146103 251,969 5,894
INTERNET COMMERCE CORP. COMMON STOCK 46059F109 1,417,500 30,000
INTERNET GOLD COMMON STOCK M56595107 1,047,375 42,000
INTERNET PICTURES CORP COMMON STOCK 46059S101 1,014,731 29,900
INTERVOICE INC. COMMON STOCK 461142101 1,212,750 42,000
INTERVU INC COMMON STOCK 46114R106 1,980,000 22,000
INTRANET SOLUTIONS INC. COMMON STOCK 460939309 3,049,800 66,300
INTUIT INC. COMMON STOCK 461202103 2,419,688 44,500
INVESTMENT TECHNOLOGY COMMON STOCK 46145F105 655,650 18,600
INVITROGEN CORP. COMMON STOCK 46185R100 1,538,656 26,500
ION NETWORKS INC COMMON STOCK 46205P100 1,580,375 47,000
IONA TECHNOLOGIES PLC-ADR ADR 46206P109 2,812,000 38,000
ITC DELTACOM COMMON STOCK 45031T104 890,625 25,000
ITXC CORP COMMON STOCK 45069F109 2,715,506 57,700
J.P. MORGAN & CO., INC. COMMON STOCK 616880100 316,200 2,400
JABIL CIRCUIT COMMON STOCK 466313103 224,900 5,200
JABIL CIRCUIT COMMON STOCK 466313103 8,650,000 200,000
JACK HENRY & ASSOC. COMMON STOCK 426281101 973,500 26,400
JD EDWARDS & CO. COMMON STOCK 281667105 1,823,500 56,000
JDS UNIPHASE CORP. COMMON STOCK 46612J101 1,119,399 9,285
JDS UNIPHASE CORP. COMMON STOCK 46612J101 482,250 4,000
JEFFERIES GROUP INC. COMMON STOCK 472319102 576,450 25,200
JOHNSON & JOHNSON COMMON STOCK 478160104 2,529,256 36,100
JOHNSON & JOHNSON COMMON STOCK 478160104 73,957,975 1,055,600
JOHNSON CONTROLS INC COMMON STOCK 478366107 616,313 11,400
JONES APPAREL GROUP COMMON STOCK 480074103 2,011,313 63,100
JUNIPER NETWORKS INC. COMMON STOCK 48203R104 1,581,375 6,000
JUNIPER NETWORKS INC. COMMON STOCK 48203R104 263,563 1,000
K MART CORPORATION COMMON STOCK 482584109 242,188 25,000
KANSAS CITY SOUTHERN INDS COMMON STOCK 485170104 644,531 7,500
KAYDON CORP. COMMON STOCK 486587108 2,242,356 82,100
KEANE INC COMMON STOCK 486665102 2,764,875 109,500
KEMET COMMON STOCK 488360108 1,644,500 26,000
KEY ENERGY GROUP INC. COMMON STOCK 492914106 7,866,638 676,700
KEYCORP COMMON STOCK 493267108 267,900 14,100
</TABLE>
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
ITEM 1: ITEM 6: ITEM 7: ITEM 8:
INVESTMENT DISCRETION
(b) SHARED AS
(a) SOLE DEFINED IN (c) SHARED- MANAGERS
NAME OF ISSUER INSTR. V OTHER SEE INSTR. V (a) SOLE (b) SHARED (c) NONE
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
INTERLINK ELECTRONICS INC X 02 15 16 67,500
INTERLINK ELECTRONICS INC X 3,000
INTERNATIONAL PAPER X 17 5,894
INTERNET COMMERCE CORP. X 02 30,000
INTERNET GOLD X 15 42,000
INTERNET PICTURES CORP X 15 05 29,900
INTERVOICE INC. X 15 42,000
INTERVU INC X 15 22,000
INTRANET SOLUTIONS INC. X 11 15 66,300
INTUIT INC. X 15 02 44,500
INVESTMENT TECHNOLOGY X 11 18,600
INVITROGEN CORP. X 15 26,500
ION NETWORKS INC X 15 47,000
IONA TECHNOLOGIES PLC-ADR X 16 11 38,000
ITC DELTACOM X 15 25,000
ITXC CORP X 15 57,700
J.P. MORGAN & CO., INC. X 17 2,400
JABIL CIRCUIT X 02 5,200
JABIL CIRCUIT X 200,000
JACK HENRY & ASSOC. X 11 26,400
JD EDWARDS & CO. X 15 56,000
JDS UNIPHASE CORP. X 06 05 9,285
JDS UNIPHASE CORP. X 4,000
JEFFERIES GROUP INC. X 11 25,200
JOHNSON & JOHNSON X 14 17 06 36,100
JOHNSON & JOHNSON X 1,055,600
JOHNSON CONTROLS INC X 01 11,400
JONES APPAREL GROUP X 02 63,100
JUNIPER NETWORKS INC. X 15 6,000
JUNIPER NETWORKS INC. X 1,000
K MART CORPORATION X 14 25,000
KANSAS CITY SOUTHERN INDS X 15 7,500
KAYDON CORP. X 11 82,100
KEANE INC X 02 109,500
KEMET X 15 26,000
KEY ENERGY GROUP INC. X 15 15 02 676,700
KEYCORP X 08 14,100
</TABLE>
<PAGE> 17
<TABLE>
<CAPTION>
MAR 31, 2000
NAME OF REPORTING MANAGER: VILLANOVA MUTUAL FUND CAPITAL TRUST
- ---------------------------------------------------------------------------------------------------------------
ITEM 1: ITEM 2: ITEM 3: ITEM 4: ITEM 5:
FAIR SHARES OF
TITLE MARKET PRINCIPAL
NAME OF ISSUER OF CLASS CUSIP VALUE AMOUNT
- ---------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
KIMBERLY CLARK COMMON STOCK 494368103 884,800 15,800
KINDER MORGAN INC COMMON STOCK 49455P101 2,415,000 70,000
KITTY HAWK INC. COMMON STOCK 498326107 118,750 25,000
KLA INSTRUMENTS CORP COMMON STOCK 482480100 2,696,000 32,000
KLA INSTRUMENTS CORP COMMON STOCK 482480100 320,150 3,800
KNIGHT/TRIMARK GRP. COMMON STOCK 499068104 408,000 8,000
KOHLS CORP. COMMON STOCK 500255104 1,004,500 9,800
KONINKLIJKE PHILIPS ADR ADR 500472204 53,367,270 311,520
KOPIN CORP COMMON STOCK 500600101 1,443,750 21,000
KROGER CO COMMON STOCK 501044101 194,944 11,100
KRONOS INC COMMON STOCK 501052104 518,438 17,500
L-3 COMMUNICATIONS CORP COMMON STOCK 502424104 2,340,000 45,000
LABRANCHE & CO. COMMON STOCK 505447102 263,863 20,900
LAFARGE CORP. COMMON STOCK 505862102 1,135,250 47,800
LAMAR ADVERTISING CO. COMMON STOCK 512815101 1,569,750 34,500
LANDS END COMMON STOCK 515086106 2,306,250 37,500
LATTICE SEMICONDUCTOR COMMON STOCK 518415104 2,761,650 40,800
LEAR CORPORATION COMMON STOCK 521865105 554,063 19,700
LEGG MASON, INC. COMMON STOCK 524901105 1,600,250 37,000
LEHMAN BROTHERS HLDGS INC COMMON STOCK 524908100 3,152,500 32,500
LEVEL 3 COMM COMMON STOCK 52729N100 264,375 2,500
LEVEL 3 COMM 6% 03/15/10 CONVERTIBLE BOND 52729NAS9 392,500 400,000
LEXMARK INTL GROUP COMMON STOCK 529771107 306,675 2,900
LIBERATE TECHNOLOGIES COMMON STOCK 530129105 1,098,125 17,500
LIBERTY MD 3.75% 02/15/30 CONVERTIBLE BOND 530715AK7 119,000 100,000
LIFEMINDERS.COM INC. COMMON STOCK 53219H108 237,223 3,495
LIMITED INCORPORATED COMMON STOCK 532716107 294,875 7,000
LINCOLN NATL CORP COMMON STOCK 534187109 341,700 10,200
LINEAR TECHNOLOGY CORP. COMMON STOCK 535678106 517,000 9,400
LINEAR TECHNOLOGY CORP. COMMON STOCK 535678106 18,634,000 338,800
LINENS 'N THINGS INC. COMMON STOCK 535679104 3,068,800 89,600
LITTLEFUSE INCORPORATED COMMON STOCK 537008104 1,284,063 35,000
LITTON INDUSTRIES COMMON STOCK 538021106 525,831 11,900
LONE STAR TECHNOLGIES COMMON STOCK 542312103 1,049,063 22,500
LOWE'S COMPANIES COMMON STOCK 548661107 315,225 5,400
LOWE'S COMPANIES COMMON STOCK 548661107 75,887,500 1,300,000
LSI LOGIC COMMON STOCK 502161102 2,098,863 28,900
</TABLE>
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
ITEM 1: ITEM 6: ITEM 7: ITEM 8:
INVESTMENT DISCRETION
(b) SHARED AS
(a) SOLE DEFINED IN (c) SHARED- MANAGERS
NAME OF ISSUER INSTR. V OTHER SEE INSTR. V (a) SOLE (b) SHARED (c) NONE
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
KIMBERLY CLARK X 17 14 15,800
KINDER MORGAN INC X 02 70,000
KITTY HAWK INC. X 02 25,000
KLA INSTRUMENTS CORP X 15 17 32,000
KLA INSTRUMENTS CORP X 3,800
KNIGHT/TRIMARK GRP. X 8,000
KOHLS CORP. X 17 15 9,800
KONINKLIJKE PHILIPS ADR X 311,520
KOPIN CORP X 15 21,000
KROGER CO X 17 11,100
KRONOS INC X 11 17,500
L-3 COMMUNICATIONS CORP X 02 45,000
LABRANCHE & CO. X 05 20,900
LAFARGE CORP. X 15 01 47,800
LAMAR ADVERTISING CO. X 02 34,500
LANDS END X 02 37,500
LATTICE SEMICONDUCTOR X 07 02 40,800
LEAR CORPORATION X 01 19,700
LEGG MASON, INC. X 15 37,000
LEHMAN BROTHERS HLDGS INC X 15 32,500
LEVEL 3 COMM X 08 2,500
LEVEL 3 COMM 6% 03/15/10 X 03 400,000
LEXMARK INTL GROUP X 03 2,900
LIBERATE TECHNOLOGIES X 15 17,500
LIBERTY MD 3.75% 02/15/30 X 03 100,000
LIFEMINDERS.COM INC. X 11 3,495
LIMITED INCORPORATED X 06 7,000
LINCOLN NATL CORP X 01 10,200
LINEAR TECHNOLOGY CORP. X 02 9,400
LINEAR TECHNOLOGY CORP. X 338,800
LINENS 'N THINGS INC. X 02 11 89,600
LITTLEFUSE INCORPORATED X 15 35,000
LITTON INDUSTRIES X 02 11,900
LONE STAR TECHNOLGIES X 15 22,500
LOWE'S COMPANIES X 17 5,400
LOWE'S COMPANIES X 1,300,000
LSI LOGIC X 15 17 28,900
</TABLE>
<PAGE> 18
<TABLE>
<CAPTION>
MAR 31, 2000
NAME OF REPORTING MANAGER: VILLANOVA MUTUAL FUND CAPITAL TRUST
- ---------------------------------------------------------------------------------------------------------------
ITEM 1: ITEM 2: ITEM 3: ITEM 4: ITEM 5:
FAIR SHARES OF
TITLE MARKET PRINCIPAL
NAME OF ISSUER OF CLASS CUSIP VALUE AMOUNT
- ---------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
LSI LOGIC 4.25% 03/15/04 CONVERTIBLE BOND 502161AB8 417,825 90,000
LSI LOGIC 4.25% 03/15/04 CONVERTIBLE BOND 502161AD4 232,125 50,000
LUCENT TECH. CORP. COMMON STOCK 549463107 4,105,181 67,575
LUCENT TECH. CORP. COMMON STOCK 549463107 10,327,500 170,000
LYNX THERUPEUTICS, INC. COMMON STOCK 551812308 833,000 28,000
M.STANLEY DEAN WITTER COMMON STOCK 617446448 1,916,719 23,500
M.STANLEY DEAN WITTER COMMON STOCK 617446448 22,837,500 280,000
MACROVISION CORP. COMMON STOCK 555904101 6,554,113 76,100
MANPOWER INC COMMON STOCK 56418H100 1,679,150 47,300
MANUGISTICS GROUP INC. COMMON STOCK 565011103 2,361,750 47,000
MARIMBA COMMON STOCK 56781Q109 1,553,200 35,200
MARINE DRILLING CO, INC. COMMON STOCK 568240204 7,024,000 256,000
MARSH & MCLENNAN CO., INC COMMON STOCK 571748102 865,953 7,850
MARTIN MARIETTA MATERIALS COMMON STOCK 573284106 21,869,000 460,400
MASCO CORP COMMON STOCK 574599106 596,550 29,100
MASCO CORP COMMON STOCK 574599106 30,073,500 1,467,000
MASTEC INC. COMMON STOCK 576323109 249,200 2,800
MATTEL COMMON STOCK 577081102 288,075 27,600
MATTHEWS INTL. CORP CL. A COMMON STOCK 577128101 966,088 42,700
MAVERICK TUBE CORP COMMON STOCK 577914104 311,400 9,600
MAXIM INTEGRATED PRODUCTS COMMON STOCK 57772K101 604,031 8,500
MAXIM INTEGRATED PRODUCTS COMMON STOCK 57772K101 20,345,194 286,300
MAXTOR COMMON STOCK 577729205 3,139,931 242,700
MAY DEPARTMENT STORES COMMON STOCK 577778103 695,400 24,400
MAYTAG COMMON STOCK 578592107 715,500 21,600
MAYTAG COMMON STOCK 578592107 27,467,250 829,200
MBIA INC. COMMON STOCK 55262C100 983,981 18,900
MBNA CORP COMMON STOCK 55262L100 266,475 10,450
MBNA CORP COMMON STOCK 55262L100 85,298,775 3,345,050
MC DONALDS COMMON STOCK 580135101 2,020,863 53,800
MC DONALDS COMMON STOCK 580135101 56,306,188 1,499,000
MCAFEE.COM CORP. COMMON STOCK 579062100 289,450 5,600
MCI WORLDCOM INC. COMMON STOCK 55268B106 3,770,680 83,215
MCI WORLDCOM INC. COMMON STOCK 55268B106 44,435,703 980,650
MEDAREX INC. COMMON STOCK 583916101 618,075 12,300
MEDIA ONE GROUP COMMON STOCK 58440J104 664,200 8,200
MEDICAL MANAGER CORP COMMON STOCK 58461U103 981,750 28,000
</TABLE>
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
ITEM 1: ITEM 6: ITEM 7: ITEM 8:
INVESTMENT DISCRETION
(b) SHARED AS
(a) SOLE DEFINED IN (c) SHARED- MANAGERS
NAME OF ISSUER INSTR. V OTHER SEE INSTR. V (a) SOLE (b) SHARED (c) NONE
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
LSI LOGIC 4.25% 03/15/04 X 03 90,000
LSI LOGIC 4.25% 03/15/04 X 03 50,000
LUCENT TECH. CORP. X 17 14 06 67,575
LUCENT TECH. CORP. X 170,000
LYNX THERUPEUTICS, INC. X 16 28,000
M.STANLEY DEAN WITTER X 03 17 23,500
M.STANLEY DEAN WITTER X 280,000
MACROVISION CORP. X 15 16 10 76,100
MANPOWER INC X 02 47,300
MANUGISTICS GROUP INC. X 15 47,000
MARIMBA X 16 35,200
MARINE DRILLING CO, INC. X 15 05 02 256,000
MARSH & MCLENNAN CO., INC X 03 17 7,850
MARTIN MARIETTA MATERIALS X 460,400
MASCO CORP X 01 29,100
MASCO CORP X 1,467,000
MASTEC INC. X 10 2,800
MATTEL X 08 27,600
MATTHEWS INTL. CORP CL. A X 11 42,700
MAVERICK TUBE CORP X 11 9,600
MAXIM INTEGRATED PRODUCTS X 02 8,500
MAXIM INTEGRATED PRODUCTS X 286,300
MAXTOR X 02 242,700
MAY DEPARTMENT STORES X 15 24,400
MAYTAG X 15 21,600
MAYTAG X 829,200
MBIA INC. X 08 11 18,900
MBNA CORP X 17 10,450
MBNA CORP X 3,345,050
MC DONALDS X 14 17 53,800
MC DONALDS X 1,499,000
MCAFEE.COM CORP. X 5,600
MCI WORLDCOM INC. X 06 14 03 17 08 83,215
MCI WORLDCOM INC. X 980,650
MEDAREX INC. X 16 12,300
MEDIA ONE GROUP X 17 8,200
MEDICAL MANAGER CORP X 15 28,000
</TABLE>
<PAGE> 19
<TABLE>
<CAPTION>
MAR 31, 2000
NAME OF REPORTING MANAGER: VILLANOVA MUTUAL FUND CAPITAL TRUST
- ---------------------------------------------------------------------------------------------------------------
ITEM 1: ITEM 2: ITEM 3: ITEM 4: ITEM 5:
FAIR SHARES OF
TITLE MARKET PRINCIPAL
NAME OF ISSUER OF CLASS CUSIP VALUE AMOUNT
- ---------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
MEDICIS PHARMACEUTICAL COMMON STOCK 584690309 1,020,000 25,500
MEDIMMUNE, INC. COMMON STOCK 584699102 365,663 2,100
MEDTRONIC INCORPORATED COMMON STOCK 585055106 1,085,331 21,100
MELLON FINANCIAL CORP. COMMON STOCK 58551A108 1,162,300 39,400
MELLON FINANCIAL CORP. COMMON STOCK 58551A108 138,313,700 4,688,600
MENTOR CORPORATION COMMON STOCK 587188103 3,739,500 138,500
MENTOR GRAPHICS CORP COMMON STOCK 587200106 2,282,363 150,900
MERCANTILE BANKSHARES COMMON STOCK 587405101 275,063 9,000
MERCK & COMPANY, INC COMMON STOCK 589331107 4,286,625 69,000
MERCK & COMPANY, INC COMMON STOCK 589331107 124,069,838 1,997,100
MERCURY INTERACTIVE CORP COMMON STOCK 589405109 2,385,425 30,100
MEREDITH CORP COMMON STOCK 589433101 539,906 19,500
MERRILL LYNCH COMMON STOCK 590188108 934,500 8,900
MERRILL LYNCH COMMON STOCK 590188108 47,775,000 455,000
META GROUP, INC. COMMON STOCK 591002100 794,906 30,500
METAMOR WORLDWIDE, INC. COMMON STOCK 59133P100 645,525 22,800
METHODE ELECTRONICS COMMON STOCK 591520200 1,287,750 25,500
METRIS CO. COMMON STOCK 591598107 322,663 8,300
METROMEDIA FIBER NTWK. PREFERRED STOCK 24366Q209 476,000 5,600
METROMEDIA INTERNATIONAL COMMON STOCK 591695101 201,938 35,900
MICREL INC. COMMON STOCK 594793101 1,296,000 13,500
MICROCELL TELECOM COMMON STOCK 59501T304 1,020,625 23,000
MICROCHIP TECHNOLOGY COMMON STOCK 595017104 591,750 9,000
MICROMUSE INC COMMON STOCK 595094103 2,082,188 15,000
MICRON ELECTRONICS INC COMMON STOCK 595100108 280,000 20,000
MICRON TECHNOLOGY INC COMMON STOCK 595112103 4,233,600 33,600
MICROSOFT COMMON STOCK 594918104 12,197,500 114,800
MICROSOFT COMMON STOCK 594918104 158,811,875 1,494,700
MICROSTRATEGY INC. COMMON STOCK 594972101 200,244 2,300
MIDWAY GAMES INC. COMMON STOCK 598148104 586,975 44,300
MILLIPORE CORP COMMON STOCK 601073109 31,074,488 550,600
MINERALS TECHNOLOGIES COMMON STOCK 603158106 2,228,125 50,000
MINIMED INC. COMMON STOCK 60365K108 2,460,500 19,000
MINN. MINING & MANUFCTRNG COMMON STOCK 604059105 495,950 5,600
MINN. MINING & MANUFCTRNG COMMON STOCK 604059105 24,948,056 281,700
MINNESOTA POWER & LIGHT COMMON STOCK 604110106 166,250 10,000
MIRAGE RESORTS COMMON STOCK 60462E104 311,938 16,100
</TABLE>
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
ITEM 1: ITEM 6: ITEM 7: ITEM 8:
INVESTMENT DISCRETION
(b) SHARED AS
(a) SOLE DEFINED IN (c) SHARED- MANAGERS
NAME OF ISSUER INSTR. V OTHER SEE INSTR. V (a) SOLE (b) SHARED (c) NONE
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
MEDICIS PHARMACEUTICAL X 16 25,500
MEDIMMUNE, INC. X 02 2,100
MEDTRONIC INCORPORATED X 17 06 21,100
MELLON FINANCIAL CORP. X 15 17 03 39,400
MELLON FINANCIAL CORP. X 4,688,600
MENTOR CORPORATION X 11 02 138,500
MENTOR GRAPHICS CORP X 15 02 150,900
MERCANTILE BANKSHARES X 14 9,000
MERCK & COMPANY, INC X 17 14 08 06 69,000
MERCK & COMPANY, INC X 1,997,100
MERCURY INTERACTIVE CORP X 16 07 30,100
MEREDITH CORP X 11 19,500
MERRILL LYNCH X 17 03 8,900
MERRILL LYNCH X 455,000
META GROUP, INC. X 11 30,500
METAMOR WORLDWIDE, INC. X 16 22,800
METHODE ELECTRONICS X 11 25,500
METRIS CO. X 05 8,300
METROMEDIA FIBER NTWK. X 03 5,600
METROMEDIA INTERNATIONAL X 15 35,900
MICREL INC. X 15 13,500
MICROCELL TELECOM X 15 23,000
MICROCHIP TECHNOLOGY X 9,000
MICROMUSE INC X 15 15,000
MICRON ELECTRONICS INC X 20,000
MICRON TECHNOLOGY INC X 17 15 33,600
MICROSOFT X 17 06 08 08 03 114,800
MICROSOFT X 1,494,700
MICROSTRATEGY INC. X 07 2,300
MIDWAY GAMES INC. X 16 44,300
MILLIPORE CORP X 550,600
MINERALS TECHNOLOGIES X 02 50,000
MINIMED INC. X 16 19,000
MINN. MINING & MANUFCTRNG X 17 5,600
MINN. MINING & MANUFCTRNG X 281,700
MINNESOTA POWER & LIGHT X 07 10,000
MIRAGE RESORTS X 08 16,100
</TABLE>
<PAGE> 20
<TABLE>
<CAPTION>
MAR 31, 2000
NAME OF REPORTING MANAGER: VILLANOVA MUTUAL FUND CAPITAL TRUST
- ---------------------------------------------------------------------------------------------------------------
ITEM 1: ITEM 2: ITEM 3: ITEM 4: ITEM 5:
FAIR SHARES OF
TITLE MARKET PRINCIPAL
NAME OF ISSUER OF CLASS CUSIP VALUE AMOUNT
- ---------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
MISSION CRITICAL SOFTWARE COMMON STOCK 605047109 2,212,725 36,200
MMC NETWORKS INC COMMON STOCK 55308N102 211,200 6,400
MODIS PROFESSIONAL COMMON STOCK 607830106 1,764,675 142,600
MONSANTO COMMON STOCK 611662107 1,014,550 19,700
MONSANTO CO. 6.5% (ACES) PREFERRED STOCK 611662305 558,150 12,200
MONTANA POWER CO. COMMON STOCK 612085100 1,305,600 20,400
MOTOROLA,INC. COMMON STOCK 620076109 2,740,719 19,250
MOTOROLA,INC. COMMON STOCK 620076109 14,237,500 100,000
MUTUAL RISK MANAGEMENT COMMON STOCK 628351108 2,272,000 113,600
MYLAN LABS COMMON STOCK 628530107 734,250 26,700
MYPOINTS.COM INC. COMMON STOCK 62855T102 230,588 8,600
NABISCO HOLDINGS COMMON STOCK 629526104 286,469 8,900
NABISCO HOLDINGS GROUP COMMON STOCK 62952P102 242,400 20,200
NABORS INDUSTRIES INC COMMON STOCK 629568106 1,339,031 34,500
NATCO GROUP, INC. COMMON STOCK 63227W203 1,837,500 175,000
NATIONAL DATA COMMON STOCK 635621105 1,820,000 70,000
NATIONAL FUEL GAS CO. COMMON STOCK 636180101 356,500 8,000
NATIONAL INSTRUMENTS COMMON STOCK 636518102 1,322,464 28,175
NATIONAL-OILWELL INC. COMMON STOCK 637071101 3,848,631 124,652
NAT'L SEMICONDUCTOR CORP COMMON STOCK 637640103 2,394,688 39,500
NATURAL MICROSYS CORP COMMON STOCK 638882100 2,366,700 27,600
NAUTICA ENTERPRISES COMMON STOCK 639089101 1,386,500 118,000
NBC INTERNET INC COMMON STOCK 62873D105 1,778,051 41,290
NEIMAN MARCUS GROUP, INC. COMMON STOCK 640204202 1,123,625 40,400
NET.GENESIS COMMON STOCK 64107E107 693,625 15,500
NETOPIA, INC. COMMON STOCK 64114K104 370,478 5,150
NETSOLVE INC. COMMON STOCK 64115J106 238,650 7,400
NETWORK APPLIANCE INC. COMMON STOCK 64120L104 2,846,600 34,400
NETWORK SOLUTIONS COMMON STOCK 64121Q102 2,074,992 13,500
NEW CENTURY ENERGIES INC COMMON STOCK 64352U103 718,494 23,900
NEW ERA OF NETWORKS INC COMMON STOCK 644312100 981,250 25,000
NEW YORK TIMES CO COMMON STOCK 650111107 695,588 16,200
NEW YORK TIMES CO COMMON STOCK 650111107 50,193,809 1,168,997
NEWELL RUBBERMAID COMMON STOCK 651229106 597,981 24,100
NEWFIELD EXPLORATION CO. COMMON STOCK 651290108 341,925 9,700
NEWPARK RESOURCES INC COMMON STOCK 651718504 2,464,000 308,000
NEWPORT NEWS SHIPBUILDING COMMON STOCK 652228107 4,050,475 133,900
</TABLE>
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
ITEM 1: ITEM 6: ITEM 7: ITEM 8:
INVESTMENT DISCRETION
(b) SHARED AS
(a) SOLE DEFINED IN (c) SHARED- MANAGERS
NAME OF ISSUER INSTR. V OTHER SEE INSTR. V (a) SOLE (b) SHARED (c) NONE
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
MISSION CRITICAL SOFTWARE X 02 05 36,200
MMC NETWORKS INC X 05 6,400
MODIS PROFESSIONAL X 02 142,600
MONSANTO X 08 17 19,700
MONSANTO CO. 6.5% (ACES) X 03 12,200
MONTANA POWER CO. X 11 02 20,400
MOTOROLA,INC. X 03 17 06 08 19,250
MOTOROLA,INC. X 100,000
MUTUAL RISK MANAGEMENT X 11 113,600
MYLAN LABS X 15 26,700
MYPOINTS.COM INC. X 11 8,600
NABISCO HOLDINGS X 06 8,900
NABISCO HOLDINGS GROUP X 06 20,200
NABORS INDUSTRIES INC X 11 34,500
NATCO GROUP, INC. X 02 175,000
NATIONAL DATA X 02 70,000
NATIONAL FUEL GAS CO. X 11 8,000
NATIONAL INSTRUMENTS X 16 28,175
NATIONAL-OILWELL INC. X 11 11 02 124,652
NAT'L SEMICONDUCTOR CORP X 15 39,500
NATURAL MICROSYS CORP X 15 11 27,600
NAUTICA ENTERPRISES X 02 118,000
NBC INTERNET INC X 15 16 41,290
NEIMAN MARCUS GROUP, INC. X 02 40,400
NET.GENESIS X 15 15,500
NETOPIA, INC. X 11 5,150
NETSOLVE INC. X 05 7,400
NETWORK APPLIANCE INC. X 15 17 06 34,400
NETWORK SOLUTIONS X 15 13,500
NEW CENTURY ENERGIES INC X 01 23,900
NEW ERA OF NETWORKS INC X 15 25,000
NEW YORK TIMES CO X 03 06 16,200
NEW YORK TIMES CO X 1,168,997
NEWELL RUBBERMAID X 01 24,100
NEWFIELD EXPLORATION CO. X 05 9,700
NEWPARK RESOURCES INC X 02 308,000
NEWPORT NEWS SHIPBUILDING X 11 02 133,900
</TABLE>
<PAGE> 21
<TABLE>
<CAPTION>
MAR 31, 2000
NAME OF REPORTING MANAGER: VILLANOVA MUTUAL FUND CAPITAL TRUST
- ---------------------------------------------------------------------------------------------------------------
ITEM 1: ITEM 2: ITEM 3: ITEM 4: ITEM 5:
FAIR SHARES OF
TITLE MARKET PRINCIPAL
NAME OF ISSUER OF CLASS CUSIP VALUE AMOUNT
- ---------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
NEXT LEVEL COMMUNICATIONS COMMON STOCK 65333U104 1,576,875 14,500
NEXTEL COM 5.25% 01/15/10 CONVERTIBLE BOND 65332VAW3 655,188 550,000
NEXTEL COMMUNICATIONS COMMON STOCK 65332V103 1,452,850 9,800
NEXTLINK COMM., PFD. PREFERRED STOCK 65333H863 714,688 2,500
NOBLE AFFILIATES INC COMMON STOCK 654894104 2,369,063 72,200
NOBLE DRILLING CORP COMMON STOCK 655042109 2,154,750 52,000
NOKIA CORP ADR ADR 654902204 32,587,500 150,000
NORFOLK SOUTHERN CORP COMMON STOCK 655844108 286,063 19,900
NORTEL NETWORKS CORP. ADR ADR 656569100 2,482,200 19,700
NORTEL NETWORKS CORP. ADR ADR 656569100 18,685,800 148,300
NORTH FORK BANCORP., INC. COMMON STOCK 659424105 1,161,875 65,000
NORTHERN TRUST CORP COMMON STOCK 665859104 2,445,763 36,200
NORTHERN TRUST CORP COMMON STOCK 665859104 13,512,500 200,000
NOVELLUS SYSTEMS COMMON STOCK 670008101 1,745,488 31,100
NS GROUP, INC. COMMON STOCK 628916108 595,406 36,500
NUI CORP. COMMON STOCK 629430109 388,125 15,000
NWS-P LTD ADR ADR 652487802 525,250 11,000
OAK TECHNOLOGY, INC. COMMON STOCK 671802106 2,213,750 115,000
OAKLEY INC COMMON STOCK 673662102 1,628,813 153,300
OCEAN ENERGY INC COMMON STOCK 67481E106 2,719,750 189,200
OCEANEERING INTERNATIONAL COMMON STOCK 675232102 1,689,375 90,100
OCEANFIRST FINANCIAL CORP COMMON STOCK 675234108 448,663 28,600
OFFICE DEPOT COMMON STOCK 676220106 709,938 61,400
OFFICEMAX INC. COMMON STOCK 67622M108 1,905,800 293,200
OFFICIAL PAYMENT CORP. COMMON STOCK 676235104 289,800 6,900
OFFSHORE LOGISTICS COMMON STOCK 676255102 1,447,163 104,300
OLIN CORP COMMON STOCK 680665205 3,250,025 183,100
OM GROUP COMMON STOCK 670872100 2,434,250 53,500
OMNICARE, INC. COMMON STOCK 681904108 3,453,494 286,300
OMNICOM 2.25% 01/06/13 CONVERTIBLE BOND 681919AG1 291,000 150,000
OMNICOM 4.25% 01/03/07 CONVERTIBLE BOND 681919AE6 119,550 40,000
OMNICOM GROUP COMMON STOCK 681919106 214,906 2,300
OPTIMAL ROBOTICS CORP COMMON STOCK 68388R208 606,300 12,900
ORACLE CORPORATION COMMON STOCK 68389X105 4,894,519 62,700
ORACLE CORPORATION COMMON STOCK 68389X105 27,321,875 350,000
OSHKOSH TRUCK CORP. COMMON STOCK 688239201 205,013 6,600
OSICOM TECHNOLOGIES COMMON STOCK 688271501 325,525 2,900
</TABLE>
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
ITEM 1: ITEM 6: ITEM 7: ITEM 8:
INVESTMENT DISCRETION
(b) SHARED AS
(a) SOLE DEFINED IN (c) SHARED- MANAGERS
NAME OF ISSUER INSTR. V OTHER SEE INSTR. V (a) SOLE (b) SHARED (c) NONE
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
NEXT LEVEL COMMUNICATIONS X 15 14,500
NEXTEL COM 5.25% 01/15/10 X 03 550,000
NEXTEL COMMUNICATIONS X 17 01 9,800
NEXTLINK COMM., PFD. X 03 2,500
NOBLE AFFILIATES INC X 02 72,200
NOBLE DRILLING CORP X 15 52,000
NOKIA CORP ADR X 150,000
NORFOLK SOUTHERN CORP X 01 19,900
NORTEL NETWORKS CORP. ADR X 17 19,700
NORTEL NETWORKS CORP. ADR X 148,300
NORTH FORK BANCORP., INC. X 11 65,000
NORTHERN TRUST CORP X 17 15 36,200
NORTHERN TRUST CORP X 200,000
NOVELLUS SYSTEMS X 02 15 31,100
NS GROUP, INC. X 02 36,500
NUI CORP. X 11 15,000
NWS-P LTD ADR X 14 11,000
OAK TECHNOLOGY, INC. X 15 115,000
OAKLEY INC X 02 153,300
OCEAN ENERGY INC X 02 189,200
OCEANEERING INTERNATIONAL X 11 90,100
OCEANFIRST FINANCIAL CORP X 11 28,600
OFFICE DEPOT X 15 61,400
OFFICEMAX INC. X 02 293,200
OFFICIAL PAYMENT CORP. X 11 6,900
OFFSHORE LOGISTICS X 02 11 104,300
OLIN CORP X 02 02 183,100
OM GROUP X 02 53,500
OMNICARE, INC. X 02 15 15 286,300
OMNICOM 2.25% 01/06/13 X 03 150,000
OMNICOM 4.25% 01/03/07 X 03 40,000
OMNICOM GROUP X 17 2,300
OPTIMAL ROBOTICS CORP X 15 12,900
ORACLE CORPORATION X 06 08 17 62,700
ORACLE CORPORATION X 350,000
OSHKOSH TRUCK CORP. X 07 6,600
OSICOM TECHNOLOGIES X 11 2,900
</TABLE>
<PAGE> 22
<TABLE>
<CAPTION>
MAR 31, 2000
NAME OF REPORTING MANAGER: VILLANOVA MUTUAL FUND CAPITAL TRUST
- ---------------------------------------------------------------------------------------------------------------
ITEM 1: ITEM 2: ITEM 3: ITEM 4: ITEM 5:
FAIR SHARES OF
TITLE MARKET PRINCIPAL
NAME OF ISSUER OF CLASS CUSIP VALUE AMOUNT
- ---------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
OTG SOFTWARE, INC. COMMON STOCK 671059103 729,656 18,100
PACIFIC CENTURY COMMON STOCK 694058108 9,924,688 488,600
PACIFIC SUNWEAR OF CALIF. COMMON STOCK 694873100 2,829,750 73,500
PAIRGAIN TECHNOLOGIES INC COMMON STOCK 695934109 1,577,225 84,400
PALL CORP COMMON STOCK 696429307 18,104,662 806,893
PALM INC. COMMON STOCK 696642107 4,487,500 100,000
PANAMSAT CORP COMMON STOCK 697933109 1,570,000 32,000
PARAMETRIC TECHNOLOGY COMMON STOCK 699173100 1,369,063 65,000
PARTNERRE LTD. COMMON STOCK G6852T105 1,814,856 49,300
PATTERSON DENTAL CO. COMMON STOCK 703412106 1,451,588 37,950
PATTERSON ENERGY COMMON STOCK 703414102 301,625 9,500
PAYCHEX COMMON STOCK 704326107 20,950,000 400,000
PAYLESS SHOESOURCE COMMON STOCK 704379106 2,254,088 43,400
P-COM INC. COMMON STOCK 693262107 3,922,000 212,000
PC-TEL INC. COMMON STOCK 69325Q105 3,747,450 49,800
PE BIOSYSTEMS GROUP COMMON STOCK 69332S102 4,400,400 45,600
PECO ENERGY CORP COMMON STOCK 693304107 409,313 11,100
PEGASUS COM. CORP. COMMON STOCK 705904100 3,378,000 24,000
PENTAIR INC COMMON STOCK 709631105 322,444 8,700
PEOPLES HERITAGE FINANCE COMMON STOCK 711147108 1,146,000 76,400
PEOPLESOFT, INC. COMMON STOCK 712713106 860,000 43,000
PEPSICO INCORPORATED COMMON STOCK 713448108 1,849,094 53,500
PEPSICO INCORPORATED COMMON STOCK 713448108 89,935,081 2,602,100
PEREGRINE SYSTEMS, INC. COMMON STOCK 71366Q101 11,950,538 178,200
PERFORMANCE TECHNOLOGIES COMMON STOCK 71376K102 2,853,844 65,700
PETROLEUM GEO-SVCS ADR ADR 716597109 893,325 51,600
PFIZER COMMON STOCK 717081103 3,480,750 95,200
PFIZER COMMON STOCK 717081103 19,977,750 546,400
PHARMACIA & UPJOHN, INC. COMMON STOCK 716941109 1,552,350 26,200
PHARMACIA & UPJOHN, INC. COMMON STOCK 716941109 77,184,975 1,302,700
PHARMACOPEIA INC. COMMON STOCK 71713B104 2,352,000 48,000
PHILIP MORRIS, INC. COMMON STOCK 718154107 1,066,813 50,500
PHONE.COM INC. COMMON STOCK 71920Q100 2,202,188 13,500
PHOTRONICS INC COMMON STOCK 719405102 2,814,406 79,700
PIER ONE IMPORTS COMMON STOCK 720279108 3,782,250 369,000
PINNACLE HOLDINGS COMMON STOCK 72346N101 2,320,500 42,000
PIVOTAL CORP. COMMON STOCK 72581R106 481,875 15,000
</TABLE>
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
ITEM 1: ITEM 6: ITEM 7: ITEM 8:
INVESTMENT DISCRETION
(b) SHARED AS
(a) SOLE DEFINED IN (c) SHARED- MANAGERS
NAME OF ISSUER INSTR. V OTHER SEE INSTR. V (a) SOLE (b) SHARED (c) NONE
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
OTG SOFTWARE, INC. X 15 18,100
PACIFIC CENTURY X 488,600
PACIFIC SUNWEAR OF CALIF. X 02 73,500
PAIRGAIN TECHNOLOGIES INC X 16 84,400
PALL CORP X 806,893
PALM INC. X 100,000
PANAMSAT CORP X 15 32,000
PARAMETRIC TECHNOLOGY X 15 65,000
PARTNERRE LTD. X 11 15 49,300
PATTERSON DENTAL CO. X 11 37,950
PATTERSON ENERGY X 11 9,500
PAYCHEX X 400,000
PAYLESS SHOESOURCE X 11 43,400
P-COM INC. X 15 212,000
PC-TEL INC. X 15 16 49,800
PE BIOSYSTEMS GROUP X 15 17 08 45,600
PECO ENERGY CORP X 01 11,100
PEGASUS COM. CORP. X 15 24,000
PENTAIR INC X 01 8,700
PEOPLES HERITAGE FINANCE X 11 76,400
PEOPLESOFT, INC. X 15 43,000
PEPSICO INCORPORATED X 14 17 06 53,500
PEPSICO INCORPORATED X 2,602,100
PEREGRINE SYSTEMS, INC. X 16 02 15 178,200
PERFORMANCE TECHNOLOGIES X 15 65,700
PETROLEUM GEO-SVCS ADR X 16 51,600
PFIZER X 17 14 06 95,200
PFIZER X 546,400
PHARMACIA & UPJOHN, INC. X 17 14 03 26,200
PHARMACIA & UPJOHN, INC. X 1,302,700
PHARMACOPEIA INC. X 02 48,000
PHILIP MORRIS, INC. X 17 08 50,500
PHONE.COM INC. X 15 13,500
PHOTRONICS INC X 15 16 79,700
PIER ONE IMPORTS X 15 15 369,000
PINNACLE HOLDINGS X 11 15 42,000
PIVOTAL CORP. X 15 15,000
</TABLE>
<PAGE> 23
<TABLE>
<CAPTION>
MAR 31, 2000
NAME OF REPORTING MANAGER: VILLANOVA MUTUAL FUND CAPITAL TRUST
- ---------------------------------------------------------------------------------------------------------------
ITEM 1: ITEM 2: ITEM 3: ITEM 4: ITEM 5:
FAIR SHARES OF
TITLE MARKET PRINCIPAL
NAME OF ISSUER OF CLASS CUSIP VALUE AMOUNT
- ---------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
PLEXUS CORP. COMMON STOCK 729132100 2,198,625 33,000
PMC - SIERRA INC. COMMON STOCK 69344F106 1,405,444 6,900
PMC - SIERRA INC. COMMON STOCK 69344F106 407,375 2,000
PNC FINACIAL SERVICES COMMON STOCK 693475105 612,850 13,600
POLAROID CORP COMMON STOCK 731095105 1,966,500 82,800
POLYCOM INC COMMON STOCK 73172K104 4,117,750 52,000
POLYMEDICA CORP. COMMON STOCK 731738100 240,875 4,100
POWERTEL INC. COMMON STOCK 73936C109 1,286,888 18,600
POWERWAVE TECH., INC. COMMON STOCK 739363109 4,375,000 35,000
PRECISION DRILLING CORP COMMON STOCK 74022D100 1,615,350 48,400
PRI AUTOMATION COMMON STOCK 69357H106 922,988 15,100
PRICE COMMUNICATIONS CORP COMMON STOCK 741437305 202,285 8,795
PRIDE INTL INC. COMMON STOCK 741932107 1,247,844 54,700
PRIME HOSPITALITY CORP. COMMON STOCK 741917108 338,575 46,700
PRIMEX TECHNOLOGIES INC COMMON STOCK 741597108 942,013 44,200
PRIMUS TELECOMMUNICATIONS COMMON STOCK 741929103 4,703,563 91,000
PROCTER & GAMBLE CO. COMMON STOCK 742718109 2,716,875 48,300
PROSIEBEN MEDIA PFD PREFERRED STOCK 5252884 1,680,894 14,700
PROSOFTTRAINING.COM COMMON STOCK 743477101 252,700 11,200
PROVIDIAN FINANCIAL COMMON STOCK 74406A102 38,089,013 439,700
PROXIM, INC. COMMON STOCK 744284100 1,627,750 13,600
PSINET INC. CONV PFD PREFERRED STOCK 74437C309 320,000 5,000
PUMA TECHNOLOGY, INC. COMMON STOCK 745887109 916,313 18,100
QLOGIC CORP. COMMON STOCK 747277101 298,100 2,200
QRS CORP COMMON STOCK 74726X105 1,403,413 18,650
QUAKER OATS CO COMMON STOCK 747402105 122,468,563 2,020,100
QUALCOMM, INC. COMMON STOCK 747525103 2,284,481 15,300
QUANTUM CORP-DLT & STORAG COMMON STOCK 747906204 2,214,406 185,500
QUANTUM CORP-HARD DISK DR COMMON STOCK 747906303 3,175,875 282,300
QUEST DIAGNOSTICS COMMON STOCK 74834L100 266,325 6,700
QUEST DIAGNOSTICS COMMON STOCK 74834L100 29,303,700 737,200
QUEST SOFTWARE COMMON STOCK 74834T103 202,950 1,800
QUICKLOGIC CORP. COMMON STOCK 74837P108 406,500 12,000
QUINTILES TRANS CORP. COMMON STOCK 748767100 822,413 48,200
QWEST COMMUNICATIONS INTL COMMON STOCK 749121109 12,125,000 250,000
RADIAN GROUP INC. COMMON STOCK 750236101 223,838 4,700
RALSTON PURINA COMMON STOCK 751277302 260,063 9,500
</TABLE>
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
ITEM 1: ITEM 6: ITEM 7: ITEM 8:
INVESTMENT DISCRETION
(b) SHARED AS
(a) SOLE DEFINED IN (c) SHARED- MANAGERS
NAME OF ISSUER INSTR. V OTHER SEE INSTR. V (a) SOLE (b) SHARED (c) NONE
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
PLEXUS CORP. X 15 33,000
PMC - SIERRA INC. X 02 05 06 6,900
PMC - SIERRA INC. X 2,000
PNC FINACIAL SERVICES X 01 13,600
POLAROID CORP X 02 82,800
POLYCOM INC X 15 16 52,000
POLYMEDICA CORP. X 10 4,100
POWERTEL INC. X 16 18,600
POWERWAVE TECH., INC. X 16 15 35,000
PRECISION DRILLING CORP X 16 48,400
PRI AUTOMATION X 16 15,100
PRICE COMMUNICATIONS CORP X 07 8,795
PRIDE INTL INC. X 11 54,700
PRIME HOSPITALITY CORP. X 11 46,700
PRIMEX TECHNOLOGIES INC X 11 44,200
PRIMUS TELECOMMUNICATIONS X 15 91,000
PROCTER & GAMBLE CO. X 17 14 06 08 48,300
PROSIEBEN MEDIA PFD X 09 14,700
PROSOFTTRAINING.COM X 10 11,200
PROVIDIAN FINANCIAL X 439,700
PROXIM, INC. X 16 13,600
PSINET INC. CONV PFD X 03 5,000
PUMA TECHNOLOGY, INC. X 16 18,100
QLOGIC CORP. X 02 2,200
QRS CORP X 16 18,650
QUAKER OATS CO X 2,020,100
QUALCOMM, INC. X 17 06 15,300
QUANTUM CORP-DLT & STORAG X 02 185,500
QUANTUM CORP-HARD DISK DR X 02 282,300
QUEST DIAGNOSTICS X 02 6,700
QUEST DIAGNOSTICS X 737,200
QUEST SOFTWARE X 1,800
QUICKLOGIC CORP. X 05 12,000
QUINTILES TRANS CORP. X 02 48,200
QWEST COMMUNICATIONS INTL X 250,000
RADIAN GROUP INC. X 07 4,700
RALSTON PURINA X 14 9,500
</TABLE>
<PAGE> 24
<TABLE>
<CAPTION>
MAR 31, 2000
NAME OF REPORTING MANAGER: VILLANOVA MUTUAL FUND CAPITAL TRUST
- ---------------------------------------------------------------------------------------------------------------
ITEM 1: ITEM 2: ITEM 3: ITEM 4: ITEM 5:
FAIR SHARES OF
TITLE MARKET PRINCIPAL
NAME OF ISSUER OF CLASS CUSIP VALUE AMOUNT
- ---------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
RALSTON PURINA COMMON STOCK 751277302 44,287,275 1,617,800
RATIONAL SOFTWARE CORP. COMMON STOCK 75409P202 206,550 2,700
RATIONAL SOFTWARE CORP. COMMON STOCK 75409P202 229,500 3,000
RAYONIER INC COMMON STOCK 754907103 2,437,500 50,000
REDBACK NETWORKS COMMON STOCK 757209101 3,659,238 12,200
REGENT COMMUNICATIONS COMMON STOCK 758865109 144,788 11,700
REINSURANCE GROUP OF AMER COMMON STOCK 759351109 419,219 17,605
RELIANCE STEEL & ALUMINUM COMMON STOCK 759509102 1,426,406 63,750
RELIANT ENERGY PREFERRED STOCK 75952J207 596,375 6,500
REMEDY CORP COMMON STOCK 759548100 1,406,975 33,400
RENAISSANCER HOLDINGS COMMON STOCK G7496G103 2,248,125 55,000
RENAL CARE GROUP, INC. COMMON STOCK 759930100 238,563 11,000
REPUBLIC SERVICES INC COMMON STOCK 760759100 2,238,906 204,700
RESPIRONICS INC. COMMON STOCK 761230101 483,000 33,600
REYNOLDS & REYNOLDS COMMON STOCK 761695105 810,000 30,000
RF MICRO DEVICES INC COMMON STOCK 749941100 295,625 2,200
RF MICRO DEVICES INC COMMON STOCK 749941100 201,563 1,500
RITCHIE BROS. AUCTIONEERS COMMON STOCK 767744105 1,147,500 45,000
ROBOTIC VISION SYSTEMS COMMON STOCK 771074101 1,920,000 120,000
ROCHE HOLDING 0% 01/19/15 CONVERTIBLE BOND 771196AG7 130,394 155,000
ROHM & HAAS CO. COMMON STOCK 775371107 321,300 7,200
ROHM & HAAS CO. COMMON STOCK 775371107 43,774,358 980,938
ROPER INDUSTRIES INC. COMMON STOCK 776696106 3,566,831 105,100
ROSS STORES, INC. COMMON STOCK 778296103 890,313 37,000
ROWAN COS. INC. COMMON STOCK 779382100 4,059,431 137,900
ROYAL DUTCH PETRO ADR ADR 780257804 2,135,569 37,100
RSA SECURITY INC. COMMON STOCK 749719100 5,834,088 112,600
RUDDICK CORP. COMMON STOCK 781258108 907,813 83,000
RUSSELL CORP. COMMON STOCK 782352108 589,675 41,200
SABRE GROUP HOLDINGS INC COMMON STOCK 785905100 774,062 20,956
SAFEWAY INC. COMMON STOCK 786514208 1,728,550 38,200
SAINT JUDE MED INC COMMON STOCK 790849103 689,194 26,700
SAINT JUDE MED INC COMMON STOCK 790849103 30,270,319 1,172,700
SAKS INCORPORATED COMMON STOCK 79377W108 187,050 12,900
SALEM COMMUNICATIONS COMMON STOCK 794093104 606,425 50,800
SANDISK CORP COMMON STOCK 80004C101 9,971,500 81,400
SANMINA 4.25% 05/01/04 CONVERTIBLE BOND 800907AB3 402,813 250,000
</TABLE>
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
ITEM 1: ITEM 6: ITEM 7: ITEM 8:
INVESTMENT DISCRETION
(b) SHARED AS
(a) SOLE DEFINED IN (c) SHARED- MANAGERS
NAME OF ISSUER INSTR. V OTHER SEE INSTR. V (a) SOLE (b) SHARED (c) NONE
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
RALSTON PURINA X 1,617,800
RATIONAL SOFTWARE CORP. X 02 2,700
RATIONAL SOFTWARE CORP. X 3,000
RAYONIER INC X 02 50,000
REDBACK NETWORKS X 15 12,200
REGENT COMMUNICATIONS X 10 11,700
REINSURANCE GROUP OF AMER X 16 17,605
RELIANCE STEEL & ALUMINUM X 02 63,750
RELIANT ENERGY X 03 6,500
REMEDY CORP X 16 33,400
RENAISSANCER HOLDINGS X 02 55,000
RENAL CARE GROUP, INC. X 05 11,000
REPUBLIC SERVICES INC X 02 204,700
RESPIRONICS INC. X 11 33,600
REYNOLDS & REYNOLDS X 14 30,000
RF MICRO DEVICES INC X 03 2,200
RF MICRO DEVICES INC X 1,500
RITCHIE BROS. AUCTIONEERS X 02 45,000
ROBOTIC VISION SYSTEMS X 02 120,000
ROCHE HOLDING 0% 01/19/15 X 03 155,000
ROHM & HAAS CO. X 08 7,200
ROHM & HAAS CO. X 980,938
ROPER INDUSTRIES INC. X 02 11 105,100
ROSS STORES, INC. X 02 37,000
ROWAN COS. INC. X 02 16 137,900
ROYAL DUTCH PETRO ADR X 17 14 37,100
RSA SECURITY INC. X 15 02 16 15 112,600
RUDDICK CORP. X 11 83,000
RUSSELL CORP. X 02 41,200
SABRE GROUP HOLDINGS INC X 15 20,956
SAFEWAY INC. X 14 17 38,200
SAINT JUDE MED INC X 01 26,700
SAINT JUDE MED INC X 1,172,700
SAKS INCORPORATED X 02 12,900
SALEM COMMUNICATIONS X 16 50,800
SANDISK CORP X 15 16 15 81,400
SANMINA 4.25% 05/01/04 X 03 250,000
</TABLE>
<PAGE> 25
<TABLE>
<CAPTION>
MAR 31, 2000
NAME OF REPORTING MANAGER: VILLANOVA MUTUAL FUND CAPITAL TRUST
- ---------------------------------------------------------------------------------------------------------------
ITEM 1: ITEM 2: ITEM 3: ITEM 4: ITEM 5:
FAIR SHARES OF
TITLE MARKET PRINCIPAL
NAME OF ISSUER OF CLASS CUSIP VALUE AMOUNT
- ---------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
SANMINA CORP. COMMON STOCK 800907107 256,738 3,800
SANTA CRUZ OPERATION INC. COMMON STOCK 801833104 570,938 60,900
SANTA FE SNYDER CORP COMMON STOCK 80218K105 3,776,850 392,400
SARA LEE, CORP. COMMON STOCK 803111103 590,400 32,800
SAWTEK INC COMMON STOCK 805468105 4,783,188 91,000
SBC COMM INC COMMON STOCK 78387G103 3,629,304 86,412
SBS TECHNOLOGIES INC. COMMON STOCK 78387P103 480,125 16,700
SCHERING PLOUGH COMMON STOCK 806605101 2,002,875 54,500
SCHERING PLOUGH COMMON STOCK 806605101 166,617,150 4,533,800
SCHLUMBERGER LTD. COMMON STOCK 806857108 1,461,150 19,100
SCHLUMBERGER LTD. COMMON STOCK 806857108 55,286,550 722,700
SCHULTZ SAV O STORES INC. COMMON STOCK 808196109 173,188 16,300
SCHWAB (CHARLES) CORP. COMMON STOCK 808513105 891,956 15,700
SCHWAB (CHARLES) CORP. COMMON STOCK 808513105 8,521,875 150,000
SCI SYSTEMS 3% 03/15/07 CONVERTIBLE BOND 783890AF3 384,125 350,000
SCI SYSTEMS INC COMMON STOCK 783890106 742,613 13,800
SCI SYSTEMS INC COMMON STOCK 783890106 376,688 7,000
SCOR ADR ADR 80917Q106 647,325 13,700
SCOTTISH HOLDINGS COMMON STOCK G7885T104 355,931 46,300
SCRIPPS CO COMMON STOCK 811054204 34,168,250 704,500
SDL INC. COMMON STOCK 784076101 638,625 3,000
SEACHANGE INTERNATIONAL COMMON STOCK 811699107 2,637,550 42,800
SEAGRAM CO LTD ADR 811850106 339,150 5,700
SEALED AIR CORP. COMMON STOCK 81211K100 25,168,413 463,400
SEARS ROEBUCK COMMON STOCK 812387108 293,313 9,500
SEMITOOL INC. COMMON STOCK 816909105 2,182,500 120,000
SEPRACOR, INC. COMMON STOCK 817315104 2,402,813 33,000
SEQUENOM INC COMMON STOCK 817337108 275,625 7,000
SERENA SOFTWARE INC. COMMON STOCK 817492101 262,969 8,250
SHOPKO STORES, INC. COMMON STOCK 824911101 2,041,250 115,000
SIEBEL SYSTEMS COMMON STOCK 826170102 1,839,338 15,400
SIEBEL SYSTEMS COMMON STOCK 826170102 597,188 5,000
SIERRA HEALTH SERVICES, I COMMON STOCK 826322109 347,106 70,300
SIERRACTIES INC COMMON STOCK 826521106 157,825 11,800
SIGNET GROUP ADR ADR 82668L872 1,625,588 64,700
SILICON STORAGE TECH. COMMON STOCK 827057100 1,255,875 17,000
SILICON VALLEY BANCSHARES COMMON STOCK 827064106 2,479,688 34,500
</TABLE>
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
ITEM 1: ITEM 6: ITEM 7: ITEM 8:
INVESTMENT DISCRETION
(b) SHARED AS
(a) SOLE DEFINED IN (c) SHARED- MANAGERS
NAME OF ISSUER INSTR. V OTHER SEE INSTR. V (a) SOLE (b) SHARED c) NONE
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
SANMINA CORP. X 02 3,800
SANTA CRUZ OPERATION INC. X 16 60,900
SANTA FE SNYDER CORP X 02 392,400
SARA LEE, CORP. X 17 14 32,800
SAWTEK INC X 15 15 91,000
SBC COMM INC X 17 08 01 14 86,412
SBS TECHNOLOGIES INC. X 11 16,700
SCHERING PLOUGH X 17 03 15 54,500
SCHERING PLOUGH X 4,533,800
SCHLUMBERGER LTD. X 14 17 19,100
SCHLUMBERGER LTD. X 722,700
SCHULTZ SAV O STORES INC. X 11 16,300
SCHWAB (CHARLES) CORP. X 17 06 15,700
SCHWAB (CHARLES) CORP. X 150,000
SCI SYSTEMS 3% 03/15/07 X 03 350,000
SCI SYSTEMS INC X 11 02 13,800
SCI SYSTEMS INC X 7,000
SCOR ADR X 09 13,700
SCOTTISH HOLDINGS X 11 46,300
SCRIPPS CO X 704,500
SDL INC. X 3,000
SEACHANGE INTERNATIONAL X 16 42,800
SEAGRAM CO LTD X 17 5,700
SEALED AIR CORP. X 463,400
SEARS ROEBUCK X 14 9,500
SEMITOOL INC. X 02 120,000
SEPRACOR, INC. X 15 33,000
SEQUENOM INC X 15 7,000
SERENA SOFTWARE INC. X 11 8,250
SHOPKO STORES, INC. X 02 11 115,000
SIEBEL SYSTEMS X 15 02 15,400
SIEBEL SYSTEMS X 5,000
SIERRA HEALTH SERVICES, I X 02 70,300
SIERRACTIES INC X 11 11,800
SIGNET GROUP ADR X 09 64,700
SILICON STORAGE TECH. X 15 17,000
SILICON VALLEY BANCSHARES X 15 34,500
</TABLE>
<PAGE> 26
<TABLE>
<CAPTION>
MAR 31, 2000
NAME OF REPORTING MANAGER: VILLANOVA MUTUAL FUND CAPITAL TRUST
- ---------------------------------------------------------------------------------------------------------------
ITEM 1: ITEM 2: ITEM 3: ITEM 4: ITEM 5:
FAIR SHARES OF
TITLE MARKET PRINCIPAL
NAME OF ISSUER OF CLASS CUSIP VALUE AMOUNT
- ---------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
SILICONIX INC. COMMON STOCK 827079203 1,568,531 16,500
SIMPSON MANUFACTURING COMMON STOCK 829073105 928,250 23,500
SMITH INTERNATIONAL COMMON STOCK 832110100 3,921,500 50,600
SOLECTRON CORP. COMMON STOCK 834182107 312,488 7,800
SOLECTRON CORP. COMMON STOCK 834182107 14,021,875 350,000
SOLUTIA INC COMMON STOCK 834376105 1,726,713 129,100
SONIC FOUNDRY, INC. COMMON STOCK 83545R108 1,072,500 11,000
SOS STAFFING SERVICES INC COMMON STOCK 78462X104 98,956 22,300
SOTHEBY'S HOLDINGS COMMON STOCK 835898107 774,375 42,000
SOUTHDOWN, INC. COMMON STOCK 841297104 879,100 14,900
SOUTHERN COMPANY COMMON STOCK 842587107 208,800 9,600
SPECTRALINK CORP. COMMON STOCK 847580107 2,016,000 112,000
SPECTRIAN CORP. COMMON STOCK 847608106 1,597,500 71,000
SPRINT CORP COMMON STOCK 852061100 1,020,600 16,200
SPRINT CORP COMMON STOCK 852061100 126,541,800 2,008,600
SPRINT CORP. (PCS GROUP) COMMON STOCK 852061506 757,625 11,600
SPRINT CORP. (PCS GROUP) COMMON STOCK 852061506 32,656,250 500,000
SPYGLASS INC. COMMON STOCK 852192103 1,589,711 20,500
STARBASE CORP COMMON STOCK 854910205 121,875 13,000
STARBUCKS CORP COMMON STOCK 855244109 250,950 5,600
STARBUCKS CORP COMMON STOCK 855244109 6,721,875 150,000
STATE STREET CORP. COMMON STOCK 857477103 1,569,375 16,200
STATEN ISLAND BANCORP INC COMMON STOCK 857550107 476,075 27,800
STERLING BANCSHARES COMMON STOCK 858907108 591,202 61,825
STEVEN MADDEN LTD COMMON STOCK 556269108 233,700 12,300
STILLWATER MINING COMMON STOCK 86074Q102 226,000 5,650
STONE ENERGY CORP COMMON STOCK 861642106 1,526,750 31,000
STRATEGIC DIAGNOSTICS INC COMMON STOCK 862700101 181,475 23,800
STRAYER EDUCATION, INC. COMMON STOCK 863236105 403,000 15,500
STRUCTURAL DYNAMICS COMMON STOCK 863555108 1,917,000 142,000
STRYKER CORP COMMON STOCK 863667101 209,250 3,000
SUIZA CAP TRUST 5.5% CVPF PREFERRED STOCK 86507G408 239,750 7,000
SUN MICROSYSTEMS COMMON STOCK 866810104 4,197,900 44,800
SUNGLASS HUT INTL COMMON STOCK 86736F106 1,315,625 168,400
SUNTRUST BANKS INC COMMON STOCK 867914103 248,325 4,300
SWIFT ENERGY CO COMMON STOCK 870738101 922,350 51,600
SYBASE COMMON STOCK 871130100 1,383,281 68,100
</TABLE>
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
ITEM 1: ITEM 6: ITEM 7: ITEM 8:
INVESTMENT DISCRETION
(b) SHARED AS
(a) SOLE DEFINED IN (c) SHARED- MANAGERS
NAME OF ISSUER INSTR. V OTHER SEE INSTR. V (a) SOLE (b) SHARED (c) NONE
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
SILICONIX INC. X 15 16,500
SIMPSON MANUFACTURING X 11 23,500
SMITH INTERNATIONAL X 16 11 50,600
SOLECTRON CORP. X 17 7,800
SOLECTRON CORP. X 350,000
SOLUTIA INC X 02 129,100
SONIC FOUNDRY, INC. X 15 11,000
SOS STAFFING SERVICES INC X 11 22,300
SOTHEBY'S HOLDINGS X 15 42,000
SOUTHDOWN, INC. X 01 14,900
SOUTHERN COMPANY X 17 9,600
SPECTRALINK CORP. X 15 112,000
SPECTRIAN CORP. X 15 71,000
SPRINT CORP X 17 03 16,200
SPRINT CORP X 2,008,600
SPRINT CORP. (PCS GROUP) X 17 11,600
SPRINT CORP. (PCS GROUP) X 500,000
SPYGLASS INC. X 16 20,500
STARBASE CORP X 10 13,000
STARBUCKS CORP X 02 5,600
STARBUCKS CORP X 150,000
STATE STREET CORP. X 15 17 16,200
STATEN ISLAND BANCORP INC X 11 27,800
STERLING BANCSHARES X 11 61,825
STEVEN MADDEN LTD X 11 12,300
STILLWATER MINING X 07 5,650
STONE ENERGY CORP X 16 31,000
STRATEGIC DIAGNOSTICS INC X 11 23,800
STRAYER EDUCATION, INC. X 16 15,500
STRUCTURAL DYNAMICS X 02 142,000
STRYKER CORP X 02 3,000
SUIZA CAP TRUST 5.5% CVPF X 03 7,000
SUN MICROSYSTEMS X 17 08 06 03 44,800
SUNGLASS HUT INTL X 02 168,400
SUNTRUST BANKS INC X 17 4,300
SWIFT ENERGY CO X 11 51,600
SYBASE X 16 15 68,100
</TABLE>
<PAGE> 27
<TABLE>
<CAPTION>
MAR 31, 2000
NAME OF REPORTING MANAGER: VILLANOVA MUTUAL FUND CAPITAL TRUST
- ---------------------------------------------------------------------------------------------------------------
ITEM 1: ITEM 2: ITEM 3: ITEM 4: ITEM 5:
FAIR SHARES OF
TITLE MARKET PRINCIPAL
NAME OF ISSUER OF CLASS CUSIP VALUE AMOUNT
- ---------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
SYCAMORE NETWORKS, INC. COMMON STOCK 871206108 3,289,500 25,500
SYKES ENTERPRISES INC COMMON STOCK 871237103 1,118,969 58,700
SYLVAN LEARNING SYSTEMS COMMON STOCK 871399101 1,585,781 99,500
SYMBOL TECHNOLOGIES INC COMMON STOCK 871508107 222,244 2,700
SYNOPSYS COMMON STOCK 871607107 1,823,250 37,400
SYSCO CORP. COMMON STOCK 871829107 53,031,625 1,486,000
SYSTEMS & COMPUTER TECH COMMON STOCK 871873105 2,431,000 104,000
TARGET CORP COMMON STOCK 87612E106 680,225 9,100
TARGET CORP COMMON STOCK 87612E106 26,162,500 350,000
TDK CORP-SPONSORED ADR ADR 872351408 381,350 2,900
TECH DATA COMMON STOCK 878237106 4,904,950 149,200
TECHNITROL, INC. COMMON STOCK 878555101 565,025 9,700
TECHNOLOGY SOLUTIONS CO COMMON STOCK 87872T108 302,950 33,200
TEKELEC COMMON STOCK 879101103 3,760,763 101,300
TELCOM SEMICONDUCTOR INC. COMMON STOCK 87921P107 1,128,325 37,300
TELEPHONE & DATA SYSTEMS COMMON STOCK 879433100 210,900 1,900
TELETECH HOLDINGS, INC. COMMON STOCK 879939106 1,104,000 32,000
TELLABS, INC. COMMON STOCK 879664100 799,902 12,700
TEMPLE INLAND, INC. COMMON STOCK 879868107 214,194 4,300
TENET HEALTHCARE CORP COMMON STOCK 88033G100 920,000 40,000
TETRA TECH INC COMMON STOCK 88162G103 2,059,125 86,700
TEXACO, INC. COMMON STOCK 881694103 418,275 7,800
TEXAS INSTRUMENTS COMMON STOCK 882508104 3,152,000 19,700
TEXAS INSTRUMENTS COMMON STOCK 882508104 74,160,000 463,500
TEXAS REGIONAL BANCSHARES COMMON STOCK 882673106 457,875 18,000
TEXAS UTILITIES PREFERRED STOCK 882848203 305,641 7,750
THERMA-WAVE INC. COMMON STOCK 88343A108 2,070,600 60,900
THERMO ELECTRON CORP. COMMON STOCK 883556102 2,322,750 114,000
THOMAS & BETTS CORP COMMON STOCK 884315102 1,437,925 50,900
TIDEWATER INC. COMMON STOCK 886423102 1,771,956 55,700
TIFFANY & CO. COMMON STOCK 886547108 1,338,000 16,000
TIME WARNER INC COMMON STOCK 887315109 2,700,000 27,000
TITAN CORP. COMMON STOCK 888266103 1,810,500 35,500
TITAN INTERNATIONAL INC COMMON STOCK 88830M102 1,437,500 200,000
TITAN PHARMACEUTICAL INC. COMMON STOCK 888314101 4,435,313 142,500
TOMMY HILFIGER CORP. COMMON STOCK G8915Z102 2,463,550 169,900
TOO INC. COMMON STOCK 890333107 211,469 6,700
</TABLE>
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
ITEM 1: ITEM 6: ITEM 7: ITEM 8:
INVESTMENT DISCRETION
(b) SHARED AS
(a) SOLE DEFINED IN (c) SHARED- MANAGERS
NAME OF ISSUER INSTR. V OTHER SEE INSTR. V (a) SOLE (b) SHARED (c) NONE
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
SYCAMORE NETWORKS, INC. X 15 25,500
SYKES ENTERPRISES INC X 05 02 58,700
SYLVAN LEARNING SYSTEMS X 02 99,500
SYMBOL TECHNOLOGIES INC X 02 2,700
SYNOPSYS X 02 37,400
SYSCO CORP. X 1,486,000
SYSTEMS & COMPUTER TECH X 02 104,000
TARGET CORP X 17 06 9,100
TARGET CORP X 350,000
TDK CORP-SPONSORED ADR X 09 2,900
TECH DATA X 02 149,200
TECHNITROL, INC. X 11 9,700
TECHNOLOGY SOLUTIONS CO X 02 33,200
TEKELEC X 15 16 101,300
TELCOM SEMICONDUCTOR INC. X 16 37,300
TELEPHONE & DATA SYSTEMS X 02 1,900
TELETECH HOLDINGS, INC. X 15 32,000
TELLABS, INC. X 17 03 12,700
TEMPLE INLAND, INC. X 08 4,300
TENET HEALTHCARE CORP X 15 40,000
TETRA TECH INC X 15 86,700
TEXACO, INC. X 17 7,800
TEXAS INSTRUMENTS X 17 06 08 19,700
TEXAS INSTRUMENTS X 463,500
TEXAS REGIONAL BANCSHARES X 11 18,000
TEXAS UTILITIES X 03 7,750
THERMA-WAVE INC. X 16 60,900
THERMO ELECTRON CORP. X 02 114,000
THOMAS & BETTS CORP X 02 50,900
TIDEWATER INC. X 02 55,700
TIFFANY & CO. X 15 16,000
TIME WARNER INC X 08 17 06 27,000
TITAN CORP. X 16 10 35,500
TITAN INTERNATIONAL INC X 02 200,000
TITAN PHARMACEUTICAL INC. X 15 142,500
TOMMY HILFIGER CORP. X 02 169,900
TOO INC. X 10 6,700
</TABLE>
<PAGE> 28
<TABLE>
<CAPTION>
MAR 31, 2000
NAME OF REPORTING MANAGER: VILLANOVA MUTUAL FUND CAPITAL TRUST
- ---------------------------------------------------------------------------------------------------------------
ITEM 1: ITEM 2: ITEM 3: ITEM 4: ITEM 5:
FAIR SHARES OF
TITLE MARKET PRINCIPAL
NAME OF ISSUER OF CLASS CUSIP VALUE AMOUNT
- ---------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
TOWER AUTOMOTIVE INC. COMMON STOCK 891707101 311,125 19,000
TRANSWITCH CORP. COMMON STOCK 894065101 5,190,750 54,000
TRIGON HEALTHCARE COMMON STOCK 89618L100 2,259,400 63,200
TRIQUINT SEMICONDUCTOR COMMON STOCK 89674K103 1,470,000 20,000
TRUE NORTH COMMUNICATIONS COMMON STOCK 897844106 2,221,156 56,500
TUBOSCOPE INC. COMMON STOCK 898600101 528,700 31,100
TWEETER HOME ENTER. GRP. COMMON STOCK 901167106 1,460,250 33,000
TYCO INTERNATIONAL COMMON STOCK 902124106 1,719,291 34,472
TYSON FOODS INC. CLASS A COMMON STOCK 902494103 787,650 70,800
UCAR INTERNATIONAL INC COMMON STOCK 90262K109 1,583,819 120,100
UNILEVER NV ADR ADR 904784709 366,424 7,614
UNION PAC CORP COMMON STOCK 907818108 313,000 8,000
UNIT CORP. COMMON STOCK 909218109 660,000 60,000
UNITED HEALTHCARE COMMON STOCK 910581107 1,264,050 21,200
UNITED ILLUMINATING CO. COMMON STOCK 910637107 255,125 6,500
UNITED RENTALS INC COMMON STOCK 911363109 194,925 11,300
UNITED STATIONERS INC. COMMON STOCK 913004107 2,191,213 61,400
UNITED TECHNOLOGIES CORP COMMON STOCK 913017109 423,356 6,700
UNIVERSAL HEALTH SERVICES COMMON STOCK 913903100 1,225,000 25,000
UNIVISION COMMUNICATIONS COMMON STOCK 914906102 350,300 3,100
UNIVISION COMMUNICATIONS COMMON STOCK 914906102 282,500 2,500
US AIRWAYS GROUP COMMON STOCK 911905107 2,010,844 72,300
US BANCORP COMMON STOCK 902973106 691,250 31,600
US CELLULAR CORP COMMON STOCK 911684108 1,704,000 24,000
US WEST INC. NEW COMMON STOCK 91273H101 1,801,100 24,800
USEC INC. COMMON STOCK 90333E108 120,250 26,000
USG CORPORATION COMMON STOCK 903293405 390,019 9,300
USINTERNETWORKING INC COMMON STOCK 917311805 1,046,250 27,000
UTI ENERGY, CORP. COMMON STOCK 903387108 3,616,450 95,800
VALASSIS COMMUNICATIONS COMMON STOCK 918866104 1,325,838 39,800
VALUEVISION INTERNATIONAL COMMON STOCK 92047K107 1,278,488 30,900
VARIAN SEMICONDUCTOR COMMON STOCK 922207105 521,725 8,200
VARIAN SEMICONDUCTOR COMMON STOCK 922207105 445,375 7,000
VARIAN, INC. COMMON STOCK 922206107 4,413,125 115,000
VEECO INSTRUMENTS INC COMMON STOCK 922417100 1,221,000 16,500
VENATOR GROUP INC. COMMON STOCK 922944103 3,815,419 426,900
VENTIV HEALTH INC COM COMMON STOCK 922793104 913,675 90,800
</TABLE>
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
ITEM 1: ITEM 6: ITEM 7: ITEM 8:
INVESTMENT DISCRETION
(b) SHARED AS
(a) SOLE DEFINED IN (c) SHARED- MANAGERS
NAME OF ISSUER INSTR. V OTHER SEE INSTR. V (a) SOLE (b) SHARED (c) NONE
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
TOWER AUTOMOTIVE INC. X 05 19,000
TRANSWITCH CORP. X 02 54,000
TRIGON HEALTHCARE X 11 63,200
TRIQUINT SEMICONDUCTOR X 15 20,000
TRUE NORTH COMMUNICATIONS X 02 56,500
TUBOSCOPE INC. X 11 31,100
TWEETER HOME ENTER. GRP. X 15 33,000
TYCO INTERNATIONAL X 17 08 34,472
TYSON FOODS INC. CLASS A X 02 70,800
UCAR INTERNATIONAL INC X 02 15 120,100
UNILEVER NV ADR X 17 7,614
UNION PAC CORP X 14 8,000
UNIT CORP. X 11 60,000
UNITED HEALTHCARE X 06 01 21,200
UNITED ILLUMINATING CO. X 11 6,500
UNITED RENTALS INC X 10 11,300
UNITED STATIONERS INC. X 11 61,400
UNITED TECHNOLOGIES CORP X 17 6,700
UNIVERSAL HEALTH SERVICES X 11 25,000
UNIVISION COMMUNICATIONS X 02 3,100
UNIVISION COMMUNICATIONS X 2,500
US AIRWAYS GROUP X 15 72,300
US BANCORP X 08 17 31,600
US CELLULAR CORP X 15 24,000
US WEST INC. NEW X 01 14 17 24,800
USEC INC. X 14 26,000
USG CORPORATION X 01 9,300
USINTERNETWORKING INC X 15 27,000
UTI ENERGY, CORP. X 15 11 11 95,800
VALASSIS COMMUNICATIONS X 11 39,800
VALUEVISION INTERNATIONAL X 16 30,900
VARIAN SEMICONDUCTOR X 16 8,200
VARIAN SEMICONDUCTOR X 7,000
VARIAN, INC. X 05 15 115,000
VEECO INSTRUMENTS INC X 15 16,500
VENATOR GROUP INC. X 02 426,900
VENTIV HEALTH INC COM X 02 90,800
</TABLE>
<PAGE> 29
<TABLE>
<CAPTION>
MAR 31, 2000
NAME OF REPORTING MANAGER: VILLANOVA MUTUAL FUND CAPITAL TRUST
- ---------------------------------------------------------------------------------------------------------------
ITEM 1: ITEM 2: ITEM 3: ITEM 4: ITEM 5:
FAIR SHARES OF
TITLE MARKET PRINCIPAL
NAME OF ISSUER OF CLASS CUSIP VALUE AMOUNT
- ---------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
VERIO INC PFD PREFERRED STOCK 923433304 296,800 5,300
VERIO INC. COMMON STOCK 923433106 1,351,875 30,000
VERISIGN INC. COMMON STOCK 92343E102 1,390,350 9,300
VERISIGN INC. COMMON STOCK 92343E102 254,150 1,700
VERITAS 1.856% 08/13/06 CONVERTIBLE BOND 92343RAA1 747,338 195,000
VERITAS SOFTWARE CORP. COMMON STOCK 923436109 4,571,900 34,900
VERITAS SOFTWARE CORP. COMMON STOCK 923436109 825,300 6,300
VERTICALNET INC. COMMON STOCK 92532L107 1,604,800 11,800
VIACOM CLASS B COMMON STOCK 925524308 490,575 9,300
VIASAT INC. COMMON STOCK 92552V100 316,800 4,400
VIATEL INC. COMMON STOCK 925529208 928,469 18,500
VIGNETTE CORP. COMMON STOCK 926734104 1,842,875 11,500
VISUAL NETWORKS INC. COMMON STOCK 928444108 266,725 4,700
VITESSE SEMI 4% 03/15/05 CONVERTIBLE BOND 928497AA4 538,200 520,000
VITESSE SEMICONDUCTOR COMMON STOCK 928497106 3,060,750 31,800
VODAFONE - ADR ADR 92857T107 227,806 4,100
VULCAN MATERIALS CO. COMMON STOCK 929160109 41,533,613 906,600
W. H. BRADY COMPANY COMMON STOCK 104674106 1,394,081 44,700
W.R. BERKLEY CORP. COMMON STOCK 084423102 657,281 28,500
W.R. GRACE & CO. NEW COMMON STOCK 38388F108 206,806 16,300
WALGREEN CO COMMON STOCK 931422109 345,050 13,400
WALLACE COMPUTERS COMMON STOCK 932270101 1,330,088 112,600
WALMART COMMON STOCK 931142103 5,982,900 107,800
WALMART COMMON STOCK 931142103 50,638,200 912,400
WALT DISNEY COMMON STOCK 254687106 2,341,825 56,600
WALT DISNEY COMMON STOCK 254687106 156,607,520 3,785,076
WANT WANT WARRANT WARRANTS 6181017 20,590 58,000
WARNER LAMBERT CO COMMON STOCK 934488107 2,554,500 26,200
WARNER LAMBERT CO COMMON STOCK 934488107 241,546,500 2,477,400
WASHINGTON MUTUAL COMMON STOCK 939322103 220,056 8,304
WASHINGTON POST CO COMMON STOCK 939640108 22,018,700 40,700
WATSON PHARMACEUTICAL INC COMMON STOCK 942683103 523,875 13,200
WEBSTER FINANCIAL CORP COMMON STOCK 947890109 2,626,600 114,200
WEBTRENDS CORP COMMON STOCK 94844D104 4,752,000 66,000
WELLMAN COMMON STOCK 949702104 1,905,963 96,200
WELLS FARGO COMPANY COMMON STOCK 949746101 2,640,469 64,500
WELLS FARGO COMPANY COMMON STOCK 949746101 103,260,750 2,522,400
</TABLE>
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
ITEM 1: ITEM 6: ITEM 7: ITEM 8:
INVESTMENT DISCRETION
(b) SHARED AS
(a) SOLE DEFINED IN (c) SHARED- MANAGERS
NAME OF ISSUER INSTR. V OTHER SEE INSTR. V (a) SOLE (b) SHARED (c) NONE
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
VERIO INC PFD X 03 5,300
VERIO INC. X 15 30,000
VERISIGN INC. X 15 9,300
VERISIGN INC. X 1,700
VERITAS 1.856% 08/13/06 X 03 195,000
VERITAS SOFTWARE CORP. X 15 02 06 34,900
VERITAS SOFTWARE CORP. X 6,300
VERTICALNET INC. X 16 11,800
VIACOM CLASS B X 17 9,300
VIASAT INC. X 10 4,400
VIATEL INC. X 16 18,500
VIGNETTE CORP. X 15 11,500
VISUAL NETWORKS INC. X 11 4,700
VITESSE SEMI 4% 03/15/05 X 03 520,000
VITESSE SEMICONDUCTOR X 15 02 31,800
VODAFONE - ADR X 4,100
VULCAN MATERIALS CO. X 906,600
W. H. BRADY COMPANY X 11 44,700
W.R. BERKLEY CORP. X 11 28,500
W.R. GRACE & CO. NEW X 07 16,300
WALGREEN CO X 17 13,400
WALLACE COMPUTERS X 11 112,600
WALMART X 06 14 03 17 08 107,800
WALMART X 912,400
WALT DISNEY X 08 17 03 56,600
WALT DISNEY X 3,785,076
WANT WANT WARRANT X 09 58,000
WARNER LAMBERT CO X 17 03 14 06 26,200
WARNER LAMBERT CO X 2,477,400
WASHINGTON MUTUAL X 17 8,304
WASHINGTON POST CO X 40,700
WATSON PHARMACEUTICAL INC X 01 13,200
WEBSTER FINANCIAL CORP X 11 02 114,200
WEBTRENDS CORP X 15 66,000
WELLMAN X 02 96,200
WELLS FARGO COMPANY X 01 17 15 64,500
WELLS FARGO COMPANY X 2,522,400
</TABLE>
<PAGE> 30
<TABLE>
<CAPTION>
MAR 31, 2000
NAME OF REPORTING MANAGER: VILLANOVA MUTUAL FUND CAPITAL TRUST
- ---------------------------------------------------------------------------------------------------------------
ITEM 1: ITEM 2: ITEM 3: ITEM 4: ITEM 5:
FAIR SHARES OF
TITLE MARKET PRINCIPAL
NAME OF ISSUER OF CLASS CUSIP VALUE AMOUNT
- ---------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
WESLEY JESSEN VISION COMMON STOCK 951018100 337,813 9,400
WESTAMERICA BANCORP COMMON STOCK 957090103 2,081,250 75,000
WESTERN DIGITAL CORP. COMMON STOCK 958102105 453,688 61,000
WESTERN WIRELESS CO-CL A COMMON STOCK 95988E204 1,145,313 25,000
WHIRLPOOL COMMON STOCK 963320106 386,925 6,600
WHITEHALL JEWELLERS INC. COMMON STOCK 965063100 2,467,500 105,000
WHOLE FOODS MARKET INC. COMMON STOCK 966837106 696,150 16,800
WILLIAMS COS., INC. COMMON STOCK 969457100 250,444 5,700
WILLIAMS COS., INC. COMMON STOCK 969457100 88,094,688 2,005,000
WIND RIVER SYSTEMS COMMON STOCK 973149107 300,875 8,300
WINSTAR COMMUNICATIONS COMMON STOCK 975515107 1,590,000 26,500
WINSTAR COMMUNICATIONS COMMON STOCK 975515107 225,000 3,750
WOLVERINE TUBE INC COMMON STOCK 978093102 984,000 76,800
WOLVERINE WORLD WIDE, INC COMMON STOCK 978097103 1,112,100 101,100
WOODHEAD INDUSTRIES, INC. COMMON STOCK 979438108 3,064,313 177,000
XEROX CORPORATION COMMON STOCK 984121103 1,729,000 66,500
XICOR, INC. COMMON STOCK 984903104 1,299,500 92,000
XILINX INC. COMMON STOCK 983919101 1,970,938 23,800
XL CAPITAL LTD COMMON STOCK G98255105 2,491,875 45,000
XM SATELLITE RADIO CL.A COMMON STOCK 983759101 1,098,563 31,500
YAHOO INC. COMMON STOCK 984332106 1,490,963 8,700
YELLOW CORP COMMON STOCK 985509108 1,633,563 88,600
YORK INTERNATIONAL CORP COMMON STOCK 986670107 273,488 11,700
YOUTHSTREAM MEDIA NETWORK COMMON STOCK 987819109 620,813 47,300
ZAPME! CORP. COMMON STOCK 98912E100 208,925 27,400
ZEBRA TECHNOLOGIES COMMON STOCK 989207105 2,760,500 55,210
ZEBRA TECHNOLOGIES COMMON STOCK 989207105 250,000 5,000
ZIFF-DAVIS INC. COMMON STOCK 989511100 2,534,375 162,200
Z-TEL TECHNOLOGIES, INC. COMMON STOCK 988792107 756,000 18,000
-----------------------------------
GRAND TOTAL 7,491,840,714 173,510,680
===================================
</TABLE>
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
ITEM 1: ITEM 6: ITEM 7: ITEM 8:
INVESTMENT DISCRETION
(b) SHARED AS
(a) SOLE DEFINED IN (c) SHARED- MANAGERS
NAME OF ISSUER INSTR. V OTHER SEE INSTR. V (a) SOLE (b) SHARED (c) NONE
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
WESLEY JESSEN VISION X 05 9,400
WESTAMERICA BANCORP X 02 75,000
WESTERN DIGITAL CORP. X 61,000
WESTERN WIRELESS CO-CL A X 15 25,000
WHIRLPOOL X 06 6,600
WHITEHALL JEWELLERS INC. X 02 105,000
WHOLE FOODS MARKET INC. X 11 16,800
WILLIAMS COS., INC. X 17 5,700
WILLIAMS COS., INC. X 2,005,000
WIND RIVER SYSTEMS X 16 8,300
WINSTAR COMMUNICATIONS X 15 26,500
WINSTAR COMMUNICATIONS X 3,750
WOLVERINE TUBE INC X 02 76,800
WOLVERINE WORLD WIDE, INC X 02 101,100
WOODHEAD INDUSTRIES, INC. X 177,000
XEROX CORPORATION X 14 17 15 66,500
XICOR, INC. X 15 92,000
XILINX INC. X 15 17 23,800
XL CAPITAL LTD X 02 45,000
XM SATELLITE RADIO CL.A X 15 31,500
YAHOO INC. X 06 17 8,700
YELLOW CORP X 02 88,600
YORK INTERNATIONAL CORP X 01 11,700
YOUTHSTREAM MEDIA NETWORK X 16 47,300
ZAPME! CORP. X 16 27,400
ZEBRA TECHNOLOGIES X 11 55,210
ZEBRA TECHNOLOGIES X 5,000
ZIFF-DAVIS INC. X 02 162,200
Z-TEL TECHNOLOGIES, INC. X 15 18,000
</TABLE>
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