UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F
FORM 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: December 31, 1999
Check here if Amendment [ ]; Amendment Number:
This Amendment (Check only one.): [ ] is a restatement.
[ ] adds new holdings entries.
Institutional Investment Manager Filing this Report:
Name: YMCA RETIREMENT FUND
Address: 140 BROADWAY
New York, NY 10005
13F File Number: 28-00178
The institutional investment manager filing this report
and the person by whom it is signed hereby represent that
the person signing the report is authorized to submit it,
that all information contained herein is true, correct and
complete, and that it is understood that all required items,
statements, schedules, lists, and tables, are considered
integral parts of this form.
Person Signing this Report on Behalf of Reporting Manager:
Name: Richard Hill
Title: Treasurer
Phone: 646-458-2411
Signature, Place, and Date of Signing:
Richard Hill New York, New York January 14, 2000
Report Type (Check only one.):
[ X] 13F HOLDINGS REPORT.
[ ] 13F NOTICE.
[ ] 13F COMBINATION REPORT.
List of Other Managers Reporting for this Manager:
<PAGE>
YMCA RETIREMENT FUND
FORM 13F SUMMARY PAGE
AS OF DATE: 12/31/99
RUN DATE: 01/13/00 3:25 P.M.
REPORT SUMMARY:
NUMBER OF OTHER INCLUDED MANAGERS: 0
FORM 13F INFORMATION TABLE ENTRY TOTAL: 326
FORM 13F INFORMATION TABLE VALUE TOTAL: $1,242,384,000
LIST OF OTHER INCLUDED MANAGERS:
NO. 13F FILE NUMBER NAME
<PAGE>
FORM 13F SPECIAL ELECTRONIC FILING INSTRUCTIONS Continued
<TABLE> <C> <C>
PORTVUE-SEC13F.LNP YMCA RETIREMENT FUND PAGE 1
RUN DATE: 01/13/00 3:23 P.M.
FORM 13F INFORMATION TABLE
AS OF DATE: 12/31/99
VALUE SHARES/ SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE
- ------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- --------
3COM CORP COM 885535104 1880 40000 SH DEFINED 0 40000 0
ABBEY NATIONAL 7% PFD PREFERRED STOCKS 002920304 492 25000 SH DEFINED 0 25000 0
ABBEY NATIONAL PFD 7.25% PREFERRED STOCKS 00279K208 410 20000 SH DEFINED 0 20000 0
ABBOTT LABS COM 002824100 3087 85000 SH DEFINED 0 85000 0
ADECCO COM 994007029 2394 3090 SH DEFINED 0 3090 0
ADOBE SYS INC COM COM 00724F101 1009 15000 SH DEFINED 0 15000 0
ADVANCED MICRO DEVICES COM 007903107 723 25000 SH DEFINED 0 25000 0
AES CORP COM COM 00130H105 1869 25000 SH DEFINED 0 25000 0
AGCO CORP COM COM 001084102 1075 80000 SH DEFINED 0 80000 0
ALBERTSONS INC COM 013104104 968 30000 SH DEFINED 0 30000 0
ALCOA INC COM COM 013817101 5810 70000 SH DEFINED 0 70000 0
ALLERGAN INC COM COM 018490102 597 12000 SH DEFINED 0 12000 0
ALLIANT CORP COM COM 018802108 1650 60000 SH DEFINED 0 60000 0
ALLSTATE CORP COM COM 020002101 2286 95000 SH DEFINED 0 95000 0
ALLTEL CORP COM 020039103 3721 45000 SH DEFINED 0 45000 0
ALPHARMA INC CL A COM 020813101 461 15000 SH DEFINED 0 15000 0
ALTERA CORP COM 021441100 1735 35000 SH DEFINED 0 35000 0
ALZA CORP COM 022615108 416 12000 SH DEFINED 0 12000 0
AMERICA ONLINE INC COM COM 02364J104 7588 100000 SH DEFINED 0 100000 0
AMERICAN EXPRESS CO COM 025816109 9643 58000 SH DEFINED 0 58000 0
AMERICAN GENERAL CORP COM 026351106 5311 70000 SH DEFINED 0 70000 0
AMERICAN HOME PRODS CORP COM 026609107 3729 95000 SH DEFINED 0 95000 0
AMERICAN INTL GROUP INC COM 026874107 16759 155000 SH DEFINED 0 155000 0
AMERISOURCE HEALTH CORP CL A COM 03071P102 608 40000 SH DEFINED 0 40000 0
AMGEN INC. COM 031162100 3604 60000 SH DEFINED 0 60000 0
AMR CORP DEL COM COM 001765106 1273 19000 SH DEFINED 0 19000 0
AMR PFD 7.875% PREFERRED STOCKS 001765866 514 25000 SH DEFINED 0 25000 0
ANALOG DEVICES INC COM 032654105 1860 20000 SH DEFINED 0 20000 0
ANGLO IRISH BANK (DUBLIN) COM 994032775 233 101023 SH DEFINED 0 101023 0
ANGLO IRISH BANK (GBP) COM 990198789 169 73000 SH DEFINED 0 73000 0
APACHE CORP COM 037411105 259 7000 SH DEFINED 0 7000 0
APPLE COMPUTER INC COM 037833100 1131 11000 SH DEFINED 0 11000 0
APPLIED MATLS INC COM 038222105 4054 32000 SH DEFINED 0 32000 0
ASSOCIATES FIRST CAP CORP CL A COM 046008108 2260 82382 SH DEFINED 0 82382 0
ASTRAZENECA ORD COM 995241503 21826 517951 SH DEFINED 0 517951 0
AT HOME CORP COM SER A COM 045919107 858 20000 SH DEFINED 0 20000 0
AT & T CORP. COM 001957109 14357 282542 SH DEFINED 0 282542 0
ATLANTIC RICHFIELD CO COM COM 048825103 2163 25000 SH DEFINED 0 25000 0
AT&T CORP LIBERTY MEDIA CL A COM 001957208 24998 440000 SH DEFINED 0 440000 0
AUTOMATIC DATA PROCESSING COM COM 053015103 7025 130400 SH DEFINED 0 130400 0
AVON PRODS INC COM COM 054303102 4290 130000 SH DEFINED 0 130000 0
BAKER HUGHES INC COM 057224107 2528 120000 SH DEFINED 0 120000 0
BANCWEST CORP NEW COM COM 059790105 1560 80000 SH DEFINED 0 80000 0
BANK NEW YORK INC COM 064057102 4000 100000 SH DEFINED 0 100000 0
BANK OF AMERICA COM 060505104 6307 125672 SH DEFINED 0 125672 0
BANK OF NY PFD 6.875% PREFERRED STOCKS 09656G201 966 50000 SH DEFINED 0 50000 0
BANK SARASIN COM 994149545 2018 1000 SH DEFINED 0 1000 0
BAXTER INTL INC COM COM 071813109 3455 55000 SH DEFINED 0 55000 0
BELL ATLANTIC CORP COM 077853109 9542 155000 SH DEFINED 0 155000 0
BELLSOUTH CORP COM 079860102 7865 168000 SH DEFINED 0 168000 0
BEST BUY INC COM COM 086516101 5025 100000 SH DEFINED 0 100000 0
BESTFOODS COM 08658U101 2103 40000 SH DEFINED 0 40000 0
BETHLEHEM STL CORP COM COM 087509105 1256 150000 SH DEFINED 0 150000 0
BIOGEN N V COM 090597105 5915 70000 SH DEFINED 0 70000 0
BIOTECHNOLOGY INV PTG RD PF US COM 990097701 7343 1700000 SH DEFINED 0 1700000 0
BLACK & DECKER CORP COM COM 091797100 4180 80000 SH DEFINED 0 80000 0
BMC SOFTWARE INC COM 055921100 3198 40000 SH DEFINED 0 40000 0
BOEING CO COM COM 097023105 3108 75000 SH DEFINED 0 75000 0
BP AMOCO ADS COM 055622104 10676 180000 SH DEFINED 0 180000 0
BRISTOL MYERS SQUIBB CO COM COM 110122108 10784 168000 SH DEFINED 0 168000 0
BRITISH TELECOM PLC COM 990140843 8657 355000 SH DEFINED 0 355000 0
BROADCOM CORP COM COM 111320107 2179 8000 SH DEFINED 0 8000 0
BROCADE COMMUNICATIONS SYS ICO COM 111621108 15356 86757 SH DEFINED 0 86757 0
BRUNSWICK CORP COM COM 117043109 334 15000 SH DEFINED 0 15000 0
BURLINGTON NORTHN SANTA FE COM COM 12189T104 582 24000 SH DEFINED 0 24000 0
BURLINGTON RESOURCES INC COM 122014103 1653 50000 SH DEFINED 0 50000 0
CABLETRON SYS INC COM COM 126920107 1300 50000 SH DEFINED 0 50000 0
CABLEVISION SYS CORP COM 12686C109 1510 20000 SH DEFINED 0 20000 0
CADENCE DESIGNS SYS INC COM COM 127387108 1080 45000 SH DEFINED 0 45000 0
CAMBRIDGE TECH PTNRS MA INC CO COM 132524109 2363 90000 SH DEFINED 0 90000 0
CAMDEN PPTY TR SH BEN INT COM 133131102 2914 105000 SH DEFINED 0 105000 0
CARTER WALLACE INC COM COM 146285101 852 47500 SH DEFINED 0 47500 0
CATALINA MARKETING CORP COM COM 148867104 3067 26500 SH DEFINED 0 26500 0
CATERPILLAR INC COM 149123101 1883 40000 SH DEFINED 0 40000 0
CBS CORPORATION COM 12490K107 4348 68000 SH DEFINED 0 68000 0
CENTRAL POWER & LIGHT 8% PFD PREFERRED STOCKS 12615P205 3127 145000 SH DEFINED 0 145000 0
CENTURYTEL, INC COM 156700106 3079 65000 SH DEFINED 0 65000 0
CERIDIAN CORP COM 15677T106 1725 80000 SH DEFINED 0 80000 0
CERT WOLTERS KLUWER COM 994977111 5803 172324 SH DEFINED 0 172324 0
CHEVRON CORP COM 166751107 6211 71700 SH DEFINED 0 71700 0
CINTAS CORP COM COM 172908105 531 10000 SH DEFINED 0 10000 0
CISCO SYS INC COM 17275R102 26781 250000 SH DEFINED 0 250000 0
CITIGROUP INC. COM 172967101 18934 340000 SH DEFINED 0 340000 0
CLEAR CHANNEL COMMUNICATIONSCO COM 184502102 8925 100000 SH DEFINED 0 100000 0
CLOROX CO COM COM 189054109 1259 25000 SH DEFINED 0 25000 0
CNF TRANSN INC COM COM 12612W104 690 20000 SH DEFINED 0 20000 0
COASTAL CORP COM 190441105 1418 40000 SH DEFINED 0 40000 0
COCA COLA CO COM COM 191216100 10310 177000 SH DEFINED 0 177000 0
COCA COLA ENTERPRISES INC COM COM 191219104 2013 100000 SH DEFINED 0 100000 0
COLGATE PALMOLIVE CO COM COM 194162103 1625 25000 SH DEFINED 0 25000 0
COM21 INC COM COM 205937105 515 22931 SH DEFINED 0 22931 0
COMCAST CORP CL A SPL COM 200300200 4551 90000 SH DEFINED 0 90000 0
COMPAQ COMPUTER CORP COM 204493100 3789 140000 SH DEFINED 0 140000 0
COMPUTER ASSOC INTL INC COM 204912109 3497 50000 SH DEFINED 0 50000 0
COMPUTER SCIENCES CORP COM 205363104 2366 25000 SH DEFINED 0 25000 0
COMPUWARE CORP COM 205638109 1490 40000 SH DEFINED 0 40000 0
CON EDISON PFD 7.35% PREFERRED STOCKS 209111830 1044 50000 SH DEFINED 0 50000 0
CONOCO INC CL B COM 208251405 917 36851 SH DEFINED 0 36851 0
CONSUMERS ENERGY PFD 9.25% PREFERRED STOCKS 21051Q205 563 25000 SH DEFINED 0 25000 0
CORNING INC COM 219350105 2579 20000 SH DEFINED 0 20000 0
COVAD COMMUNICATIONS GROUP ICO COM 222814204 1119 20000 SH DEFINED 0 20000 0
CSM NV COM 994158585 645 30376 SH DEFINED 0 30376 0
CVS CORPORATION COM 126650100 1994 50000 SH DEFINED 0 50000 0
CYPRESS SEMICONDUCTOR CORP COM COM 232806109 1943 60000 SH DEFINED 0 60000 0
DAIMLERCHRYSLER AG ORD COM D1668R123 1945 24940 SH DEFINED 0 24940 0
DANAHER CORP SHS BEN INT COM 235851102 483 10000 SH DEFINED 0 10000 0
DAYTON HUDSON CORP COM COM 239753106 3011 41000 SH DEFINED 0 41000 0
DEERE & CO. COM 244199105 868 20000 SH DEFINED 0 20000 0
DELL COMPUTER CORP COM COM 247025109 9180 180000 SH DEFINED 0 180000 0
DELPHI AUTOMOTIVE SYS CORP COM COM 247126105 645 40967 SH DEFINED 0 40967 0
DELTA AIR LINES INC DEL COM COM 247361108 598 12000 SH DEFINED 0 12000 0
DIAL CORP COM 25247D101 2431 100000 SH DEFINED 0 100000 0
DIME BANCORP INC COM 25429Q102 1815 120000 SH DEFINED 0 120000 0
DISNEY WALT PRODTNS COM 254687106 5265 180000 SH DEFINED 0 180000 0
DOMINION RES INC VA COM 257470104 981 25000 SH DEFINED 0 25000 0
DONALDSON LUFKIN&JENRETT NEWCO COM 257661108 1209 25000 SH DEFINED 0 25000 0
DOVER CORP COM COM 260003108 1452 32000 SH DEFINED 0 32000 0
DOW CHEM CO COM COM 260543103 4009 30000 SH DEFINED 0 30000 0
DPL INC COM 233293109 866 50000 SH DEFINED 0 50000 0
DU PONT E I DE NEMOURS CO COM 263534109 4776 72508 SH DEFINED 0 72508 0
DUKE CAPITAL 7.375% PFD PREFERRED STOCKS 264393208 1822 85000 SH DEFINED 0 85000 0
DUKE PWR CO COM 264399106 2256 45000 SH DEFINED 0 45000 0
E M C CORP MASS COM COM 268648102 6555 60000 SH DEFINED 0 60000 0
EATON CORP COM COM 278058102 726 10000 SH DEFINED 0 10000 0
ELECTRONIC DATA SYS CORP NEWCO COM 285661104 2008 30000 SH DEFINED 0 30000 0
ELSEVIER COM 994148810 9510 800000 SH DEFINED 0 800000 0
EMERSON ELEC CO COM COM 291011104 2295 40000 SH DEFINED 0 40000 0
ENDEMOL ENTERTAINMENT COM 995146437 1638 30628 SH DEFINED 0 30628 0
ENI S P A SPONSORED ADR COM 26874R108 6064 110000 SH DEFINED 0 110000 0
ENRON CORP COM 293561106 3728 84000 SH DEFINED 0 84000 0
ENTERPRISE CAP 7.44% PFD PREFERRED STOCKS 293701207 965 52000 SH DEFINED 0 52000 0
EXODUS COMMUNICATIONS INC COM COM 302088109 444 5000 SH DEFINED 0 5000 0
EXXON CORPORATION COM 30231G102 25105 311620 SH DEFINED 0 311620 0
FDX CORP COM COM 31304N107 1023 25000 SH DEFINED 0 25000 0
FEDERAL HOME LN MTG CORP COM COM 313400301 4236 90000 SH DEFINED 0 90000 0
FEDERAL NAT MORTGAGE ASSN COM 313586109 7917 126800 SH DEFINED 0 126800 0
FEDERATED DEPT STORES INC DECO COM 31410H101 3034 60000 SH DEFINED 0 60000 0
FINL SEC ASSUR HLDGS 7.375% PF PREFERRED STOCKS 31769P209 1044 50000 SH DEFINED 0 50000 0
FIRST DATA CORP COM COM 319963104 3452 70000 SH DEFINED 0 70000 0
FIRSTAR CORP NEW WIS COM COM 33763V109 2257 106830 SH DEFINED 0 106830 0
FIRSTENERGY CORP COM COM 337932107 908 40000 SH DEFINED 0 40000 0
FISERV INC COM COM 337738108 3448 90000 SH DEFINED 0 90000 0
FLEETBOSTON FINANCIAL CORPORAT COM 339030108 5048 145000 SH DEFINED 0 145000 0
FORD MOTOR COM 345370100 5598 105000 SH DEFINED 0 105000 0
FPL GROUP INC COM COM 302571104 1070 25000 SH DEFINED 0 25000 0
GANNETT INC COM COM 364730101 2447 30000 SH DEFINED 0 30000 0
GARTNER GROUP INC NEW CL A COM 366651107 1678 110000 SH DEFINED 0 110000 0
GATEWAY INC. COM 367626108 2162 30000 SH DEFINED 0 30000 0
GENERAL DYNAMICS CORP COM COM 369550108 2638 50000 SH DEFINED 0 50000 0
GENERAL ELEC CO COM 369604103 40235 260000 SH DEFINED 0 260000 0
GENERAL MLS INC COM COM 370334104 1788 50000 SH DEFINED 0 50000 0
GENERAL MTRS CORP COM 370442105 2181 30000 SH DEFINED 0 30000 0
GENZYME CORP COM 372917104 900 20000 SH DEFINED 0 20000 0
GILLETTE CO COM COM 375766102 3707 90000 SH DEFINED 0 90000 0
GOODRICH B F CO COM COM 382388106 825 30000 SH DEFINED 0 30000 0
GRAINGER, W W INC COM 384802104 956 20000 SH DEFINED 0 20000 0
GTE CORP COM 362320103 8468 120000 SH DEFINED 0 120000 0
GUIDANT CORP COM 401698105 1175 25000 SH DEFINED 0 25000 0
GULF POWER CAP 7.00% PFD PREFERRED STOCKS 402476204 1163 60000 SH DEFINED 0 60000 0
HALLIBURTON CO COM COM 406216101 2214 55000 SH DEFINED 0 55000 0
HARLEY DAVIDSON INC COM COM 412822108 2563 40000 SH DEFINED 0 40000 0
HARTFORD FINANCIAL SERVICES COM 416515104 3790 80000 SH DEFINED 0 80000 0
HAWAIIAN ELECTRIC 8.36% PFD PREFERRED STOCKS 41987M201 1053 50000 SH DEFINED 0 50000 0
HEINZ H J CO COM COM 423074103 3185 80000 SH DEFINED 0 80000 0
HERSHEY FOODS CORP COM 427866108 4326 91200 SH DEFINED 0 91200 0
HEWLETT PACKARD CO COM 428236103 7963 70000 SH DEFINED 0 70000 0
HOME DEPOT INC COM 437076102 16500 240000 SH DEFINED 0 240000 0
HONEYWELL INTERNATIONAL, INC. COM 438516106 3750 65001 SH DEFINED 0 65001 0
HOOPER HOLMES INC COM COM 439104100 258 10000 SH DEFINED 0 10000 0
HORACE MANN EDUCATORS CP NEWCO COM 440327104 785 40000 SH DEFINED 0 40000 0
HUBBELL HARVEY INC CLASS B COM 443510201 1226 45000 SH DEFINED 0 45000 0
I2 TECHNOLOGIES INC COM COM 465754109 1950 10000 SH DEFINED 0 10000 0
ILLINOIS TOOL WKS INC COM COM 452308109 1689 25000 SH DEFINED 0 25000 0
IMMUNEX CORP NEW COM COM 452528102 547 5000 SH DEFINED 0 5000 0
INFORMIX CORP COM COM 456779107 1716 150000 SH DEFINED 0 150000 0
INGERSOLL-RAND COMPANY COM 456866102 2037 37000 SH DEFINED 0 37000 0
INNOVASIVE DEVICES INC COM COM 45766K104 97 12112 SH DEFINED 0 12112 0
INTEGRATED DEVICE TECH INC COM 458118106 1595 55000 SH DEFINED 0 55000 0
INTEL CORP COM 458140100 22636 275000 SH DEFINED 0 275000 0
INTERNATIONAL BUSINESS MACHINE COM 459200101 17260 160000 SH DEFINED 0 160000 0
INTERNATIONAL PAPER CO COM 460146103 7337 130000 SH DEFINED 0 130000 0
INTERNET CAPITAL GROUP INC COM COM 46059C106 680 4000 SH DEFINED 0 4000 0
JDS UNIPHASE CORP COM COM 46612J101 2258 14000 SH DEFINED 0 14000 0
JOHNSON & JOHNSON COM 478160104 13195 141500 SH DEFINED 0 141500 0
KANSAS POWER & LIGHT 8.30% PFD PREFERRED STOCKS 482432200 1128 50000 SH DEFINED 0 50000 0
KENNAMETAL INC COM COM 489170100 1681 50000 SH DEFINED 0 50000 0
KERR-MCGEE CORP COM 492386107 930 15000 SH DEFINED 0 15000 0
KINDER MORGAN COM 494553100 606 30000 SH DEFINED 0 30000 0
KROGER CO COM COM 501044101 2265 120000 SH DEFINED 0 120000 0
LEVEL 3 COMMUNICATIONS INC COM COM 52729N100 2456 30000 SH DEFINED 0 30000 0
LEXMARK INTL GROUP INC CL A COM 529771107 1358 15000 SH DEFINED 0 15000 0
LILLY ELI & CO COM 532457108 4323 65000 SH DEFINED 0 65000 0
LINCOLN NATL CORP IND INCOME P CONVERTIBLE PREF 534187604 2860 130000 SH DEFINED 0 130000 0
LINEAR TECHNOLOGY CORP COM COM 535678106 1431 20000 SH DEFINED 0 20000 0
LOCKHEED MARTIN CORP COM COM 539830109 1094 50000 SH DEFINED 0 50000 0
LOWES CO COM 548661107 8275 138500 SH DEFINED 0 138500 0
LSI LOGIC CORP COM 502161102 1688 25000 SH DEFINED 0 25000 0
LUCENT TECHNOLOGIES INC COM COM 549463107 20250 270000 SH DEFINED 0 270000 0
MACK CALI RLTY CORP COM COM 554489104 1303 50000 SH DEFINED 0 50000 0
MARTEK BIOSCIENCES CORP COM 572901106 2760 230000 SH DEFINED 0 230000 0
MASCO CORP COM 574599106 1269 50000 SH DEFINED 0 50000 0
MAXIM INTEGRATED PRODS INC COM COM 57772K101 1416 30000 SH DEFINED 0 30000 0
MAYTAG CORP COM COM 578592107 1920 40000 SH DEFINED 0 40000 0
MBNA CORP COM COM 55262L100 2861 105000 SH DEFINED 0 105000 0
MCDONALDS CORP COM 580135101 4838 120000 SH DEFINED 0 120000 0
MCI WORLDCOM COM 55268B106 13929 262500 SH DEFINED 0 262500 0
MEDIAONE GROUP INC COM COM 58440J104 4225 55000 SH DEFINED 0 55000 0
MEDTRONIC INC COM 585055106 4373 120000 SH DEFINED 0 120000 0
MELLON FINL CORP COM 58551A108 8856 260000 SH DEFINED 0 260000 0
MERCK & CO INC COM 589331107 13773 205000 SH DEFINED 0 205000 0
MERRILL LYNCH 8.00% PFD PREFERRED STOCKS 59021C203 563 25000 SH DEFINED 0 25000 0
MERRILL LYNCH PFD 7.28% PREFERRED STOCKS 59021K205 1942 95000 SH DEFINED 0 95000 0
MICRON TECHNOLOGY INC COM COM 595112103 1563 20000 SH DEFINED 0 20000 0
MICROSOFT CORP COM 594918104 37944 325000 SH DEFINED 0 325000 0
MILACRON INC COM COM 598709103 692 45000 SH DEFINED 0 45000 0
MINNESOTA MNG & MFG CO COM 604059105 3426 35000 SH DEFINED 0 35000 0
MITCHELL ENERGY & DEV CORP CL COM 606592301 216 10000 SH DEFINED 0 10000 0
MORGAN STANLEY DEAN WITTER DIS COM 617446448 4996 35000 SH DEFINED 0 35000 0
MOTOROLA INC COM 620076109 7363 50000 SH DEFINED 0 50000 0
MUNTERS AB COM 995342387 537 45000 SH DEFINED 0 45000 0
MURPHY OIL CORP COM COM 626717102 574 10000 SH DEFINED 0 10000 0
NATIONAL AUSTRALIAN BK 7.875% CONVERTIBLE PREF 632525309 829 30000 SH DEFINED 0 30000 0
NATL RURAL UTILITIES 7.65% PFD PREFERRED STOCKS 637432303 1193 55000 SH DEFINED 0 55000 0
NESTLE BEARER COM 994616696 729 400 SH DEFINED 0 400 0
NEWELL RUBBERMAID COM 651192106 2900 100000 SH DEFINED 0 100000 0
NISOURCE INC COM 65473P105 2771 155000 SH DEFINED 0 155000 0
NORTHROP GRUMMAN CORP COM COM 666807102 1081 20000 SH DEFINED 0 20000 0
NORWICH UNION COM 990040932 369 50000 SH DEFINED 0 50000 0
NOVA CHEMICALS 9.04% PFD PREFERRED STOCKS 66977W307 604 30000 SH DEFINED 0 30000 0
NOVARTIS AG CHF20 COM 995047831 19668 13466 SH DEFINED 0 13466 0
NVP CAPITAL 8.20% PFD PREFERRED STOCKS 62944M209 544 25000 SH DEFINED 0 25000 0
OCCIDENTAL PETE CORP COM 674599105 1406 65000 SH DEFINED 0 65000 0
OCEAN ENERGY INC. COM 67481E106 698 90000 SH DEFINED 0 90000 0
OHIO POWER 7.375% PFD PREFERRED STOCKS 677415762 830 40000 SH DEFINED 0 40000 0
ORACLE SYS CORP COM 68389X105 11206 100000 SH DEFINED 0 100000 0
PARKER HANNIFIN CORP COM COM 701094104 1283 25000 SH DEFINED 0 25000 0
PATTERSON DENTAL CO COM COM 703412106 853 20000 SH DEFINED 0 20000 0
PAYCHEX INC COM COM 704326107 1200 30000 SH DEFINED 0 30000 0
PEN. POWER & LIGHT 8.20% PFD PREFERRED STOCKS 693497208 424 20000 SH DEFINED 0 20000 0
PENN PWR & LT 8.10% PFD PREFERRED STOCKS 693498206 2200 100000 SH DEFINED 0 100000 0
PEOPLESOFT INC COM COM 712713106 1598 75000 SH DEFINED 0 75000 0
PEPSI BOTTLING GROUP INC COM COM 713409100 828 50000 SH DEFINED 0 50000 0
PEPSICO INC COM 713448108 5288 150000 SH DEFINED 0 150000 0
PFIZER INC COM 717081103 11029 340000 SH DEFINED 0 340000 0
PHILLIPS PETROLEUM COMPANY COM 718507106 940 20000 SH DEFINED 0 20000 0
PINNACLE WEST CAP CORP COM COM 723484101 672 22000 SH DEFINED 0 22000 0
PITNEY BOWES INC COM COM 724479100 1691 35000 SH DEFINED 0 35000 0
PROBUSINESS SVCS INC COM COM 742674104 720 20000 SH DEFINED 0 20000 0
PROCTER & GAMBLE CO COM 742718109 11940 108976 SH DEFINED 0 108976 0
QUALCOMM INC COM COM 747525103 7045 40000 SH DEFINED 0 40000 0
QWEST COMMUNICATIONS INTL INCO COM 749121109 860 20000 SH DEFINED 0 20000 0
RALSTON PURINA CO COM 751277302 2369 85000 SH DEFINED 0 85000 0
RAYTHEON CO CL B COM 755111408 797 30000 SH DEFINED 0 30000 0
READ-RITE CORP COM COM 755246105 618 130000 SH DEFINED 0 130000 0
RELIANT ENERGY INC COM COM 75952J108 1601 70000 SH DEFINED 0 70000 0
RELIASTAR FINL CORP COM COM 75952U103 2351 60000 SH DEFINED 0 60000 0
REPSOL INT'L PFD 7.45% PFD PREFERRED STOCKS G7513K103 3300 160000 SH DEFINED 0 160000 0
REPSOL S.A. ADR COM 76026T205 6975 300000 SH DEFINED 0 300000 0
ROYAL BANK OF SCOTLAND 7.25% P PREFERRED STOCKS 780097879 928 50000 SH DEFINED 0 50000 0
ROYAL BANK OF SCOTLAND 7.40% P PREFERRED STOCKS 780097887 1189 60000 SH DEFINED 0 60000 0
ROYAL BANK OF SCOTLAND 8% PFD PREFERRED STOCKS 780097861 513 25000 SH DEFINED 0 25000 0
ROYAL DUTCH PETRO-NY SHARES COM 780257804 4239 70000 SH DEFINED 0 70000 0
SAFEWAY INC COM NEW COM 786514208 3575 100000 SH DEFINED 0 100000 0
SANGSTAT MED CORP COM COM 801003104 1041 35000 SH DEFINED 0 35000 0
SANTA FE SNYDER CORP COM 80218K105 720 90000 SH DEFINED 0 90000 0
SBC COMMUNICATIONS, INC COMMON COM 78387G103 15011 307920 SH DEFINED 0 307920 0
SCE&G TR I TR PFD SCS SR A 7.5 PREFERRED STOCKS 78389A203 1353 65000 SH DEFINED 0 65000 0
SCHERING PLOUGH CORP COM 806605101 5509 130000 SH DEFINED 0 130000 0
SCIENTIFIC ATLANTA INC COM 808655104 559 10000 SH DEFINED 0 10000 0
SEAGATE TECHNOLOGY COM 811804103 1863 40000 SH DEFINED 0 40000 0
SEALED AIR CORP NEW COM COM 81211K100 2073 40000 SH DEFINED 0 40000 0
SEALED AIR CORP NEW PFD CONV A CONVERTIBLE PREF 81211K209 3283 65000 SH DEFINED 0 65000 0
SHAW INDS INC COM 820286102 1085 70000 SH DEFINED 0 70000 0
SHELL TRANS & TRADING LTD NEW COM 822703609 3675 75000 SH DEFINED 0 75000 0
SO'WESTERN PUB SERV CAP 7.85% PREFERRED STOCKS 845739200 533 25000 SH DEFINED 0 25000 0
SOLECTRON CORP COM COM 834182107 1427 15000 SH DEFINED 0 15000 0
SOUTHERN CO COM 842587107 1645 70000 SH DEFINED 0 70000 0
SOUTHWEST AIRLS CO COM COM 844741108 1693 105000 SH DEFINED 0 105000 0
SPRINT CORP COM COM 852061100 3837 57000 SH DEFINED 0 57000 0
SPRINT CORP PCS COM SER 1 COM 852061506 2563 25000 SH DEFINED 0 25000 0
STATE STR CORP COM COM 857477103 1827 25000 SH DEFINED 0 25000 0
STERLING COMM INC COM COM 859205106 1700 50000 SH DEFINED 0 50000 0
STEWART & STEVENSON SERVICES COM 860342104 592 50000 SH DEFINED 0 50000 0
SUN MICROSYSTEM INC COM COM 866810104 10454 135000 SH DEFINED 0 135000 0
SUNOCO INC COM COM 86764P109 1410 60000 SH DEFINED 0 60000 0
SWEDISH EXPORT BK PFD 7.375% PREFERRED STOCKS W92947212 1608 75000 SH DEFINED 0 75000 0
SYNCOR INTL CORP NEW COM COM 87157J106 816 28000 SH DEFINED 0 28000 0
TELLABS INC COM COM 879664100 2568 40000 SH DEFINED 0 40000 0
TENET HEALTHCARE CORP COM COM 88033G100 611 26000 SH DEFINED 0 26000 0
TENN VLY SRD PARRS 6.75% 06/01 PREFERRED STOCKS 880591300 4325 200000 SH DEFINED 0 200000 0
TERADYNE INC COM COM 880770102 2640 40000 SH DEFINED 0 40000 0
TEXACO CAPITOL 6.875% PFD PREFERRED STOCKS P9132Z107 1994 100000 SH DEFINED 0 100000 0
TEXACO INC COM 881694103 2987 55000 SH DEFINED 0 55000 0
TEXAS INSTRUMENTS INC COM 882508104 6764 70000 SH DEFINED 0 70000 0
TEXAS UTILS CO COM 882848104 1671 47000 SH DEFINED 0 47000 0
TEXTRON INC COM COM 883203101 920 12000 SH DEFINED 0 12000 0
THE CHASE MANHATTAN CORPORATIO COM 16161A108 9323 120000 SH DEFINED 0 120000 0
TIME WARNER INC COM COM 887315109 6508 90000 SH DEFINED 0 90000 0
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TOWER AUTOMOTIVE INC COM COM 891707101 1081 70000 SH DEFINED 0 70000 0
TRUE NORTH COMMUNICATIONS COM COM 897844106 514 11500 SH DEFINED 0 11500 0
TVA 6.50% PFD PREFERRED STOCKS 880591409 2075 100000 SH DEFINED 0 100000 0
U S WEST INC NEW COM COM 91273H101 4680 65000 SH DEFINED 0 65000 0
UNION CARBIDE CORP COM COM 905581104 3338 50000 SH DEFINED 0 50000 0
UNION PAC RES GROUP INC COM COM 907834105 217 17000 SH DEFINED 0 17000 0
UNISYS CORP COM COM 909214108 958 30000 SH DEFINED 0 30000 0
UNITED TECHNOLOGIES CORP COM COM 913017109 2925 45000 SH DEFINED 0 45000 0
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UNOCAL CORP COM COM 915289102 1007 30000 SH DEFINED 0 30000 0
US BANCORP COM 902973106 1548 65000 SH DEFINED 0 65000 0
USX-MARATHON GROUP COM NEW COM 902905827 864 35000 SH DEFINED 0 35000 0
VIRGINIA ELECT & PWR 7.15% PFD PREFERRED STOCKS 927804617 514 25000 SH DEFINED 0 25000 0
VITESSE SEMICONDUCTOR CORP COM COM 928497106 1049 20000 SH DEFINED 0 20000 0
WAL MART STORES INC COM COM 931142103 16936 245000 SH DEFINED 0 245000 0
WALGREEN CO COM COM 931422109 1755 60000 SH DEFINED 0 60000 0
WARNER LAMBERT CO COM 934488107 7374 90000 SH DEFINED 0 90000 0
WASHINGTON MUT INC COM COM 939322103 2846 110000 SH DEFINED 0 110000 0
WELLS FARGO & CO NEW COM COM 949746101 10109 250000 SH DEFINED 0 250000 0
WEST PAC PFD 8.00% PREFERRED STOCKS 96121S209 1081 50000 SH DEFINED 0 50000 0
WESTERN DIGITAL CORPORATION COM 958102105 419 100000 SH DEFINED 0 100000 0
WILLIAMS CO COM 969457100 1834 60000 SH DEFINED 0 60000 0
XEROX CORP COM 984121103 1702 75000 SH DEFINED 0 75000 0
XLNXINX INC COM 983919101 909 20000 SH DEFINED 0 20000 0
YAHOO INC COM COM 984332106 2596 6000 SH DEFINED 0 6000 0
YAMANUCHI COM 996985383 349 10000 SH DEFINED 0 10000 0
YOUNG & RUBICAM INC COM COM 987425105 1415 20000 SH DEFINED 0 20000 0
LINE COUNT: 326
</TABLE>
