NAME OF ISSUER TITLE OF CLASS CUSIP VALUE SHARES OR SH/PRN PUT/CALL INVESTMENT
"$1,000 " PRN AMT DISCRETION MANAGERS SOLE SHARED NONE OTHER VOTING AUTHORITY
A G EDWARDS INC COM 281760108 "6,413.51" "122,600" SH SOLE "122,600"
ABBOTT LABS COM 28241000 984.54 "20,700" SH SOLE "20,700"
ABERC FITCH A COM 28962070 "2,550.56" "133,800" SH SOLE "133,800"
ALBERTSON INC COM 13104104 "5,718.30" "272,300" SH SOLE "272,300"
AMER HOME PRODS COM 26609107 "7,279.59" "128,700" SH SOLE "128,700"
AMER INTL GROUP COM 26874107 "4,918.34" "51,400" SH SOLE "51,400"
AMERADA HESS COM 23551104 "3,654.79" "54,600" SH SOLE "54,600"
ANADARKO PETE COM 32511107 "8,021.72" "120,700" SH SOLE "120,700"
ANHEUSER BUSCH COM 35229103 "1,370.93" "32,400" SH SOLE "32,400"
AON CORP COM 37389103 "6,574.38" "167,500" SH SOLE "167,500"
APACHE CORP COM 37411105 951.91 "16,100" SH SOLE "16,100"
AT & T COM 19571090 "10,674.88" "363,400" SH SOLE "363,400"
AVERY DENNISON COM 53611109 "5,008.50" "108,000" SH SOLE "108,000"
AVON PRODS INC COM 54303102 993.26 "24,300" SH SOLE "24,300"
AXA FINANCIAL INC COM 2451102 "2,506.13" "49,200" SH SOLE "49,200"
BAKER HUGHES INC COM 5224107 482.63 "13,000" SH SOLE "13,000"
BANK OF AMERICA COM 60505104 "12,879.01" "245,900" SH SOLE "245,900"
BANK OF NEW YORK COM 64057102 953.06 "17,000" SH SOLE "17,000"
BAXTER INTL INC COM 71813109 "13,017.42" "163,100" SH SOLE "163,100"
BEAR STEARNS COS COM 73902108 "11,207.70" "177,900" SH SOLE "177,900"
BELLSOUTH CORP COM 79860102 "11,229.75" "279,000" SH SOLE "279,000"
BJ SERVICES CO COM 55482103 "8,374.13" "137,000" SH SOLE "137,000"
BRIGGS COM 109043109 75.63 "2,000" SH SOLE "2,000"
BRISTOL MYERS SQ COM 110122108 "1,542.38" "27,000" SH SOLE "27,000"
BRITISH PETROLEUM COM 55622104 "9,142.50" "172,500" SH SOLE "172,500"
BURLINGTON RES COM 122014103 "9,365.10" "254,400" SH SOLE "254,400"
CAMPBELL SOUP CO COM 134429109 711.56 "27,500" SH SOLE "27,500"
CENTURYTEL INC COM 156700106 "2,231.78" "81,900" SH SOLE "81,900"
CHARLES SCHWAB COM 808513105 142 "4,000" SH SOLE "4,000"
CHASE MANHATTAN COM 16161A108 "17,412.69" "377,000" SH SOLE "377,000"
CHIRON CORP COM 170040109 "2,380.50" "52,900" SH SOLE "52,900"
CHUBB CORP COM 171232101 "5,515.01" "69,700" SH SOLE "69,700"
CINERGY CORP COM 172474108 247.97 "7,500" SH SOLE "7,500"
CIRC CITY STORES COM 172737108 "6,090.40" "264,800" SH SOLE "264,800"
CITIGROUP COM 17296719 "13,321.05" "246,401" SH SOLE "246,401"
CLEAR COM 184502102 56.5 "1,000" SH SOLE "1,000"
COASTAL CORP COM 1904411050 "6,130.14" "82,700" SH SOLE "82,700"
COCO COLA ENT COM 191219104 "2,483.06" "155,800" SH SOLE "155,800"
COLGATE PALMOLIV COM 194162103 "15,132.32" "320,600" SH SOLE "320,600"
COMERICA INC COM 20034107 "3,821.81" "65,400" SH SOLE "65,400"
CONAGRA INC COM 205887102 "2,218.91" "110,600" SH SOLE "110,600"
COOPER CAMERON COM 216640102 "1,223.21" "16,600" SH SOLE "16,600"
COSTCO COS COM 22160K105 "1,048.13" "30,000" SH SOLE "30,000"
COUNTRYWIDE CRED COM 222372104 "3,544.73" "93,900" SH SOLE "93,900"
DANAHER CORPORATION COM 235851102 "3,437.73" "69,100" SH SOLE "69,100"
DIAMOND OFFSHORE COM 25271C102 "5,075.80" "123,800" SH SOLE "123,800"
DOLLAR GEN COM 25669102 "2,205.98" "131,700" SH SOLE "131,700"
DOW JONES & CO COM 260561105 "4,289.45" "70,900" SH SOLE "70,900"
EASTMAN KODAK COM 277461109 "10,840.05" "265,200" SH SOLE "265,200"
EL PASO ENERGY COM 283905107 "9,403.98" "152,600" SH SOLE "152,600"
ELI LILLY COM 532457108 "2,579.78" "31,800" SH SOLE "31,800"
ENSCO INTL COM 26874Q100 "2,696.63" "70,500" SH SOLE "70,500"
FIRSTAR CORP COM 33763V109 "8,160.16" "364,700" SH SOLE "364,700"
FLEET BOSTON FINL COM 339030108 "11,068.20" "283,800" SH SOLE "283,800"
FRANKLIN RES COM 354613101 "1,288.47" "29,000" SH SOLE "29,000"
GANNETT CO INC COM 364730101 "8,066.60" "152,200" SH SOLE "152,200"
GAP INC COM 364760108 "7,824.60" "388,800" SH SOLE "388,800"
GEORGIA-PACIFIC COM 373298108 566.35 "24,100" SH SOLE "24,100"
GLAXO WELL PLC COM 37733W105 646.68 "10,700" SH SOLE "10,700"
GOLDMAN SACHS COM 38141G104 854.53 "7,500" SH SOLE "7,500"
H J HEINZ CO COM 4230741030 "6,841.74" "184,600" SH SOLE "184,600"
HALLIBURTON CO COM 406216101 "3,151.58" "64,400" SH SOLE "64,400"
HARTFORD FINL COM 416515104 "9,284.94" "127,300" SH SOLE "127,300"
HERSHEY FOODS CP COM 427866108 232.74 "4,300" SH SOLE "4,300"
HOME DEPOT INC COM 4327076102 238.78 "4,500" SH SOLE "4,500"
J C PENNEY CO COM 708160106 "4,025.70" "340,800" SH SOLE "340,800"
JEFFERSON PILOT COM 475070108 47.51 700 SH SOLE 700
JOHNSON&JOHNSON COM 478160104 "13,395.49" "142,600" SH SOLE "142,600"
KELLOGG CO COM 487836108 "1,148.91" "47,500" SH SOLE "47,500"
K-MART CORP COM 482584109 "1,746.60" "291,100" SH SOLE "291,100"
KNIGHT RIDDER COM 499040103 "2,454.24" "48,300" SH SOLE "48,300"
LINCOLN NATL COM 534187109 "6,395.81" "132,900" SH SOLE "132,900"
LOEWS CORP COM 540424108 "2,434.55" "29,200" SH SOLE "29,200"
LOWES COMPANIES COM 548661107 "12,322.68" "274,600" SH SOLE "274,600"
MARSH & MCLENNAN COM 571748108 "1,446.98" "10,900" SH SOLE "10,900"
MAY DEPT STORES COM 577778103 "5,793.30" "282,600" SH SOLE "282,600"
MBNA CORP COM 55262L100 681.45 "17,700" SH SOLE "17,700"
MELLON BANK CORP COM 58551A108 "6,877.41" "148,300" SH SOLE "148,300"
MERCK & CO COM 589331107 "2,017.26" "27,100" SH SOLE "27,100"
MS DEAN WITTER COM 617446448 "11,896.02" "130,100" SH SOLE "130,100"
NATIONAL OILWELL COM 637071101 "2,859.38" "91,500" SH SOLE "91,500"
NEWELL RUBBERMD COM 651229104 "4,961.72" "217,500" SH SOLE "217,500"
NORTHERN TRUST COM 665859104 "5,101.43" "57,400" SH SOLE "57,400"
PEPSICO INC COM 713448108 "5,221.00" "113,500" SH SOLE "113,500"
PFIZER INC COM 717081103 "17,907.59" "398,500" SH SOLE "398,500"
PHILIP MORRIS COM 718154107 "8,130.64" "276,200" SH SOLE "276,200"
PHILLIPS PETRO COM 718507106 "1,280.10" "20,400" SH SOLE "20,400"
PROV FIN COM 74406A102 "2,070.10" "16,300" SH SOLE "16,300"
RADIAN GROUP COM 750236101 "4,630.50" "68,600" SH SOLE "68,600"
RELIANT ENER COM 75952J108 "1,408.95" "30,300" SH SOLE "30,300"
RJR TOBACCO HLDS COM 6182K1050 "1,815.68" "56,300" SH SOLE "56,300"
ROYAL DUTCH PETE COM 780257805 "6,701.01" "111,800" SH SOLE "111,800"
SEMPRA COM 816851109 568.18 "27,300" SH SOLE "27,300"
SMITH INTL INC COM 83211010 "1,647.56" "20,200" SH SOLE "20,200"
SPRINT FON GP COM 52061100 "1,670.81" "57,000" SH SOLE "57,000"
ST PAUL COS COM 792860108 "1,750.59" "35,500" SH SOLE "35,500"
STAPLES INC COM 855030102 "3,763.94" "265,300" SH SOLE "265,300"
SUNTRUST BKS COM 867914103 "6,943.86" "139,400" SH SOLE "139,400"
TARGET CORPORATION COM """87612E103""" "1,473.44" "57,500" SH SOLE "57,500"
TEMPLE INLAND COM 879868107 833.25 "22,000" SH SOLE "22,000"
TEXACO INC COM 881694103 "1,055.25" "20,100" SH SOLE "20,100"
TIFFANY & CO COM 865471080 "5,684.11" "147,400" SH SOLE "147,400"
TOYS R US CORP COM 892335100 "2,461.88" "151,500" SH SOLE "151,500"
TRIBUNE CO COM 896047107 554.04 "12,700" SH SOLE "12,700"
UNOCAL CORP DEL COM 915289102 "1,172.98" "33,100" SH SOLE "33,100"
US BANCORP COM 902973106 100.1 "4,400" SH SOLE "4,400"
WACHOVIA CORP COM 929771103 "4,608.69" "81,300" SH SOLE "81,300"
WAL-MART STORES COM 931142103 "9,928.19" "206,300" SH SOLE "206,300"
WEATHERFORD INTL COM 947074100 "7,671.20" "178,400" SH SOLE "178,400"
WENDYS COM 950590109 547.71 "27,300" SH SOLE "27,300"
WEYERHAEUSER CO COM 962166104 "6,791.08" "168,200" SH SOLE "168,200"
WILLIAMS CO COM 969457100 "9,337.25" "221,000" SH SOLE "221,000"
WM WRIGLEY JR COM 982526105 "2,598.16" "34,700" SH SOLE "34,700"
