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<TABLE>
<C> <C>
<PAGE> PAGE 1
SECURITIES AND EXCHANGE COMMISSION
FORM 13F-E
Report for the Calendar Year or Quarter Ended: 09/30/94
Institutional Investment Manager:
NEW YORK STATE TEACHERS' RETIREMENT SYSTEM
10 CORPORATE WOODS DRIVE
ALBANY NY 12211-2395
I REPRESENT THAT I AM AUTHORIZED TO SUBMIT THIS FORM AND THAT ALL INFORMATION
IN THIS FORM AND THE ATTACHMENTS TO IT IS TRUE, CORRECT AND COMPLETE, AND I
UNDERSTAND THAT ALL REQUIRED ITEMS, STATEMENTS AND SCHEDULES ARE 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.
I AM SIGNING THIS REPORT AS REQUIRED BY THE SECURITIES EXCHANGE ACT OF 1934.
Name, Title and Telephone Number of Person Submitting Report:
DONALD W. DE LUCA DIRECTOR OF ADMINISTRATION (518) 447-2946
Signature, Place and Date of Signing:
/s/ DONALD W. DE LUCA ALBANY NY 10/12/94
<PAGE> PAGE 2
VALUE SHARES/ SH/ PUT/ INVSTMT -----VOTING AUTHORITY-----
NAME OF ISSUER -TITLE OF CLASS- --CUSIP-- (x$1000) PRN AMT PRN CALL DSCRETN -MANAGERS- SOLE SHARED NONE
A D C TELECOMMUNICATIONS COM 000886101 762 19000 SH SOLE 19000
A PLUS COMMUNICATIONS INC COM 001934108 790 60500 SH SOLE 60500
ABBOTT LABS COM 002824100 186819 5954400 SH SOLE 5954400
ACCLAIM ENTMT INC COM PAR $0.02 004325205 393 23100 SH SOLE 23100
ACME CLEVELAND CORP NEW COM 004626107 1483 105900 SH SOLE 105900
ADOBE SYS INC COM 00724F101 1736 53400 SH SOLE 53400
ADVANCED MICRO DEVICES INC COM 007903107 25329 851400 SH SOLE 851400
ADVANTA CORP CL A 007942105 3439 114150 SH SOLE 114150
ADVANTAGE BANCORP INC COM 00755C100 895 28400 SH SOLE 28400
AES CORP COM 00130H105 1025 51912 SH SOLE 51912
AETNA LIFE & CAS CO COM 008140105 41019 884500 SH SOLE 884500
AGCO CORP COM 001084102 6862 136900 SH SOLE 136900
AHMANSON H F & CO COM 008677106 13039 624600 SH SOLE 624600
AIR PRODS & CHEMS INC COM 009158106 34689 742000 SH SOLE 742000
AIRTOUCH COMMUNICATIONS INC COM 00949T100 80267 2804084 SH SOLE 2804084
ALBEMARLE CORP COM 012653101 3832 266550 SH SOLE 266550
ALBERTO CULVER CO CL B CONV 013068101 13207 565000 SH SOLE 565000
ALBERTSONS INC COM 013104104 57027 1958000 SH SOLE 1958000
ALC COMMUNICATIONS CORP COM NEW 001575307 2099 64100 SH SOLE 64100
ALCAN ALUMINIUM LTD NEW COM 013716105 34788 1318975 SH SOLE 1318975
ALCO STD CORP COM 013788104 21172 340800 SH SOLE 340800
ALEXANDER & ALEXANDER SVCS INC COM 014476105 8570 439500 SH SOLE 439500
ALEXANDER & BALDWIN INC COM 014482103 3042 119000 SH SOLE 119000
ALLEGHANY CORP DEL COM 017175100 729 4993 SH SOLE 4993
ALLEGHENY LUDLUM CORP COM 016900102 1041 48400 SH SOLE 48400
ALLERGAN INC COM 018490102 2550 100500 SH SOLE 100500
ALLIEDSIGNAL INC COM 019512102 59832 1753312 SH SOLE 1753312
ALLMERICA PPTY & CAS COS INC COM 01975T105 1929 116900 SH SOLE 116900
ALLSTATE CORP COM 020002101 3400 142400 SH SOLE 142400
ALTERA CORP COM 021441100 3052 103900 SH SOLE 103900
ALUMINUM CO AMER COM 022249106 55274 652200 SH SOLE 652200
ALZA CORP DEL COM 022615108 10337 501200 SH SOLE 501200
AMBAC INC COM 023139108 2516 68000 SH SOLE 68000
AMDAHL CORP COM 023905102 11417 1286400 SH SOLE 1286400
AMERADA HESS CORP COM 023551104 27477 590900 SH SOLE 590900
AMERICA ONLINE INC DEL COM 02364J104 3638 53200 SH SOLE 53200
AMERICAN BARRICK RESOURCES COM 02451E109 14034 527100 SH SOLE 527100
AMERICAN BRANDS INC COM 024703100 44834 1236800 SH SOLE 1236800
AMERICAN CYANAMID CO COM 025321100 57680 579700 SH SOLE 579700
AMERICAN ELEC PWR INC COM 025537101 35601 1134700 SH SOLE 1134700
AMERICAN EXPRESS CO COM 025816109 94312 3104934 SH SOLE 3104934
AMERICAN GENERAL CORP COM 026351106 36190 1334200 SH SOLE 1334200
AMERICAN GREETINGS CORP CL A 026375105 3598 124600 SH SOLE 124600
AMERICAN HOME PRODS CORP COM 026609107 125148 2085800 SH SOLE 2085800
AMERICAN INTL GROUP INC COM 026874107 163317 1837600 SH SOLE 1837600
AMERICAN NATL INS CO COM 028591105 824 17300 SH SOLE 17300
AMERICAN PREMIER UNDERWRITERS COM 029092103 1287 48100 SH SOLE 48100
AMERICAN PRESIDENT COS LTD COM 029103108 545 21600 SH SOLE 21600
AMERICAN PWR CONVERSION CORP COM 029066107 1188 59200 SH SOLE 59200
AMERICAN RE CORP COM 029163102 850 28100 SH SOLE 28100
<PAGE> PAGE 3
VALUE SHARES/ SH/ PUT/ INVSTMT -----VOTING AUTHORITY-----
NAME OF ISSUER -TITLE OF CLASS- --CUSIP-- (x$1000) PRN AMT PRN CALL DSCRETN -MANAGERS- SOLE SHARED NONE
AMERICAN STORES CO NEW COM 030096101 18277 723832 SH SOLE 723832
AMERICAN SVGS FLA FSB COM NEW 02941H308 2920 158900 SH SOLE 158900
AMERICAN TRAVELLERS CORP COM 030290100 3240 186500 SH SOLE 186500
AMERICAN WTR WKS INC COM 030411102 881 33400 SH SOLE 33400
AMERIFED FINL CORP COM 03070A106 1135 26100 SH SOLE 26100
AMERITECH CORP NEW COM 030954101 159516 3963124 SH SOLE 3963124
AMETEK INC COM 031105109 918 51700 SH SOLE 51700
AMGEN INC COM 031162100 48207 905300 SH SOLE 905300
AMOCO CORP COM 031905102 199347 3364500 SH SOLE 3364500
AMP INC COM 031897101 58225 752500 SH SOLE 752500
AMR CORP COM 001765106 23911 464300 SH SOLE 464300
AMSOUTH BANCORPORATION COM 032165102 3807 120850 SH SOLE 120850
AMTECH CORP COM 032329104 3604 300300 SH SOLE 300300
ANALOG DEVICES INC COM 032654105 1267 38400 SH SOLE 38400
ANHEUSER BUSCH COS INC COM 035229103 95370 1874600 SH SOLE 1874600
AON CORP COM 037389103 4869 145900 SH SOLE 145900
APACHE CORP COM 037411105 1050 41600 SH SOLE 41600
APPLE COMPUTER INC COM 037833100 24329 722200 SH SOLE 722200
APPLIED INNOVATION INC COM 037916103 3426 157500 SH SOLE 157500
ARBOR NATL HLDGS INC COM 038761102 991 65000 SH SOLE 65000
ARCHER DANIELS MIDLAND CO COM 039483102 56859 2186897 SH SOLE 2186897
ARDEN GROUP INC CL A 039762109 2657 52100 SH SOLE 52100
ARGONAUT GROUP INC COM 040157109 812 27300 SH SOLE 27300
ARGOSY GAMING CORP COM 040228108 294 16800 SH SOLE 16800
ARMSTRONG WORLD INDS INC COM 042476101 3891 89700 SH SOLE 89700
ARROW ELECTRS INC COM 042735100 2635 70267 SH SOLE 70267
ASARCO INC COM 043413103 4757 144700 SH SOLE 144700
ASHLAND OIL INC COM 044540102 10471 296000 SH SOLE 296000
ASPECT TELECOMMUNICATIONS CORP COM 045237104 4222 111100 SH SOLE 111100
ASSOCIATED COMMUNICATIONS DEL CL A 045541109 2297 89200 SH SOLE 89200
AT&T CORP COM 001957109 533024 9870813 SH SOLE 9870813
ATLANTA GAS LT CO COM 047753108 496 16200 SH SOLE 16200
ATLANTIC ENERGY INC N J COM 048903108 2630 160600 SH SOLE 160600
ATLANTIC GULF COMMUNITIES CORP COM 048556104 2396 199700 SH SOLE 199700
ATLANTIC RICHFIELD CO COM 048825103 122321 1212600 SH SOLE 1212600
ATLANTIC SOUTHEAST AIRLS INC COM 048869101 532 22900 SH SOLE 22900
AU BON PAIN INC CL A 050103100 1669 100000 SH SOLE 100000
AUSPEX SYS INC COM 052116100 181 33600 SH SOLE 33600
AUTODESK INC COM 052769106 2131 34100 SH SOLE 34100
AUTOMATIC DATA PROCESSING INC COM 053015103 40691 723400 SH SOLE 723400
AVERY DENNISON CORP COM 053611109 12922 375900 SH SOLE 375900
AVNET INC COM 053807103 2304 62700 SH SOLE 62700
AVON PRODS INC COM 054303102 22709 380075 SH SOLE 380075
BAKER HUGHES INC COM 057224107 14276 766500 SH SOLE 766500
BALL CORP COM 058498106 7432 261937 SH SOLE 261937
BALTIMORE GAS & ELEC CO COM 059165100 13403 582750 SH SOLE 582750
BANC ONE CORP COM 059438101 77733 2591095 SH SOLE 2591095
BANCORP HAWAII INC COM 059685107 2630 86575 SH SOLE 86575
BANDAG INC COM 059815100 882 16300 SH SOLE 16300
BANK NEW HAMPSHIRE CORP COM 063854103 3834 142000 SH SOLE 142000
<PAGE> PAGE 4
VALUE SHARES/ SH/ PUT/ INVSTMT -----VOTING AUTHORITY-----
NAME OF ISSUER -TITLE OF CLASS- --CUSIP-- (x$1000) PRN AMT PRN CALL DSCRETN -MANAGERS- SOLE SHARED NONE
BANK NEW YORK INC COM 064057102 8535 288100 SH SOLE 288100
BANK OF BOSTON CORP COM 060716107 15191 570551 SH SOLE 570551
BANK SOUTH CORP COM 065068108 1641 88700 SH SOLE 88700
BANKAMERICA CORP COM 066050105 103329 2341732 SH SOLE 2341732
BANKERS TRUST N Y CORP COM 066365107 40960 613635 SH SOLE 613635
BANKNORTH GROUP INC DEL COM 06646L100 4324 178300 SH SOLE 178300
BARD C R INC COM 067383109 12325 493000 SH SOLE 493000
BARNETT BKS INC COM 068055102 34466 778900 SH SOLE 778900
BARRETT RES CORP COM PAR $0.01 068480201 950 50000 SH SOLE 50000
BATTLE MTN GOLD CO COM 071593107 1638 128500 SH SOLE 128500
BAUSCH & LOMB INC COM 071707103 12394 317800 SH SOLE 317800
BAXTER INTL INC COM 071813109 52168 1854862 SH SOLE 1854862
BAY VIEW CAP CORP DEL COM 07262L101 2683 106800 SH SOLE 106800
BAYBANKS INC COM 072723109 11765 213900 SH SOLE 213900
BB&T FINL CORP COM 05527L106 1859 64100 SH SOLE 64100
BEAR STEARNS COS INC COM 073902108 2891 180700 SH SOLE 180700
BECTON DICKINSON & CO COM 075887109 18731 388200 SH SOLE 388200
BED BATH & BEYOND INC COM 075896100 2140 83100 SH SOLE 83100
BELL ATLANTIC CORP COM 077853109 158969 2999408 SH SOLE 2999408
BELLSOUTH CORP COM 079860102 192649 3455582 SH SOLE 3455582
BELO A H CORP DEL COM SER A 080555105 2370 46700 SH SOLE 46700
BEMIS INC COM 081437105 1030 41600 SH SOLE 41600
BENCHMARK ELECTRS INC COM 08160H101 1208 47600 SH SOLE 47600
BENEFICIAL CORP COM 081721102 32470 796800 SH SOLE 796800
BERGEN BRUNSWIG CORP CL A 083739102 665 40625 SH SOLE 40625
BETHLEHEM STL CORP COM 087509105 9343 444900 SH SOLE 444900
BETZ LABS INC COM 087779104 758 16000 SH SOLE 16000
BEVERLY ENTERPRISES INC COM 087851101 16243 1056472 SH SOLE 1056472
BHC FINL INC COM 05544W101 2957 307200 SH SOLE 307200
BIC CORP COM 088734108 519 17900 SH SOLE 17900
BIOGEN INC COM 090597105 1237 22700 SH SOLE 22700
BIOMET INC COM 090613100 8655 699400 SH SOLE 699400
BJ SVCS CO COM 055482103 1109 56500 SH SOLE 56500
BLACK & DECKER CORP COM 091797100 11003 503000 SH SOLE 503000
BLOCK DRUG INC CL A 093644102 414 13129 SH SOLE 13129
BLOCK H & R INC COM 093671105 29057 633400 SH SOLE 633400
BMC SOFTWARE INC COM 055921100 792 17600 SH SOLE 17600
BOATMENS BANCSHARES INC COM 096650106 16494 531000 SH SOLE 531000
BOB EVANS FARMS INC COM 096761101 435 21200 SH SOLE 21200
BOEING CO COM 097023105 94620 2187750 SH SOLE 2187750
BOISE CASCADE CORP COM 097383103 14927 506000 SH SOLE 506000
BOK FINL CORP COM NEW 05561Q201 140 6900 SH SOLE 6900
BOMBAY CO INC COM 097924104 322 24300 SH SOLE 24300
BOOMTOWN INC COM 098588106 6321 377400 SH SOLE 377400
BORDEN INC COM 099599102 14501 1054600 SH SOLE 1054600
BORLAND INTL INC COM 099843104 236 21300 SH SOLE 21300
BOSTON BANCORP COM 100548106 8125 233800 SH SOLE 233800
BOSTON CHICKEN INC COM 100578103 2814 134000 SH SOLE 134000
BOSTON EDISON CO COM 100599109 3175 135100 SH SOLE 135100
BOSTON SCIENTIFIC CORP COM 101137107 1021 64300 SH SOLE 64300
<PAGE> PAGE 5
VALUE SHARES/ SH/ PUT/ INVSTMT -----VOTING AUTHORITY-----
NAME OF ISSUER -TITLE OF CLASS- --CUSIP-- (x$1000) PRN AMT PRN CALL DSCRETN -MANAGERS- SOLE SHARED NONE
BOWATER INC COM 102183100 1905 65412 SH SOLE 65412
BRIGGS & STRATTON CORP COM 109043109 25431 362000 SH SOLE 362000
BRINKER INTL INC COM 109641100 1037 43200 SH SOLE 43200
BRISTOL MYERS SQUIBB CO COM 110122108 188351 3282800 SH SOLE 3282800
BRODERBUND SOFTWARE INC COM 112014105 1289 24100 SH SOLE 24100
BROOKLYN UN GAS CO COM 114259104 3256 130900 SH SOLE 130900
BROWN FORMAN CORP CL B 115637209 16816 622800 SH SOLE 622800
BROWN GROUP INC COM 115657108 975 29000 SH SOLE 29000
BROWNING FERRIS INDS INC COM 115885105 30089 947700 SH SOLE 947700
BSB BANCORP COM 055652101 3300 120000 SH SOLE 120000
BT FINL CORP COM 055763106 785 27300 SH SOLE 27300
BURLINGTON INDS INC COM 121693105 1279 121800 SH SOLE 121800
BURLINGTON NORTHN INC COM 121897102 32673 650200 SH SOLE 650200
BURLINGTON RES INC COM 122014103 11145 296200 SH SOLE 296200
BUSH INDS INC CL A 123164105 3151 115100 SH SOLE 115100
CABLETRON SYS INC COM 126920107 13240 278000 SH SOLE 278000
CABLEVISION SYS CORP CL A 12686C109 1032 17200 SH SOLE 17200
CABOT CORP COM 127055101 1820 66800 SH SOLE 66800
CAESARS WORLD INC COM 127695104 1865 43000 SH SOLE 43000
CALGENE INC COM 129598108 527 57000 SH SOLE 57000
CALGON CARBON CORP COM 129603106 458 39400 SH SOLE 39400
CALIFORNIA ENERGY CO INC COM 130190101 344 20100 SH SOLE 20100
CALLAWAY GOLF CO COM 131193104 4159 121000 SH SOLE 121000
CAMPBELL SOUP CO COM 134429109 74623 1889200 SH SOLE 1889200
CAPITAL CITIES ABC INC COM 139859102 89134 1087000 SH SOLE 1087000
CAREMARK INTL INC COM 141704106 799 34200 SH SOLE 34200
CAROLINA PWR & LT CO COM 144141108 33705 1284000 SH SOLE 1284000
CARTER WALLACE INC COM 146285101 421 30900 SH SOLE 30900
CASINO AMER INC COM 147575104 1871 166300 SH SOLE 166300
CASINO DATA SYS COM 147583108 992 42200 SH SOLE 42200
CASINO MAGIC CORP COM 147590103 56 7400 SH SOLE 7400
CATERPILLAR INC DEL COM 149123101 58206 1075400 SH SOLE 1075400
CBI INDS INC COM 124800103 1633 60200 SH SOLE 60200
CBS INC COM 124845108 40976 127752 SH SOLE 127752
CBT CORP KY COM 124852104 309 6900 SH SOLE 6900
CCP INS INC COM 124899105 2489 108800 SH SOLE 108800
CELLPRO INC COM 151156106 7812 390600 SH SOLE 390600
CELLSTAR CORP COM 150925105 635 40000 SH SOLE 40000
CELLULAR COMMUNICATTIONS INTL COM 150918100 824 21000 SH SOLE 21000
CENTERIOR ENERGY CORP COM 151883105 2572 278000 SH SOLE 278000
CENTEX CORP COM 152312104 17933 775500 SH SOLE 775500
CENTIGRAM COMMUNICATIONS CORP COM 152317103 4689 284200 SH SOLE 284200
CENTRAL & SOUTH WEST CORP COM 152357109 34510 1551000 SH SOLE 1551000
CENTRAL FID BKS INC COM 153469101 2593 83650 SH SOLE 83650
CENTRAL MAINE PWR CO COM 154051106 473 42000 SH SOLE 42000
CENTRAL NEWSPAPERS INC CL A 154647101 832 29200 SH SOLE 29200
CENTURY COMMUNICATIONS CORP CL A 156503104 863 95835 SH SOLE 95835
CENTURY TEL ENTERPRISES INC COM 156686107 1148 39750 SH SOLE 39750
CERIDIAN CORP COM 15677T106 3765 152900 SH SOLE 152900
CHAMPION ENTERPRISES INC COM 158496109 6975 177700 SH SOLE 177700
<PAGE> PAGE 6
VALUE SHARES/ SH/ PUT/ INVSTMT -----VOTING AUTHORITY-----
NAME OF ISSUER -TITLE OF CLASS- --CUSIP-- (x$1000) PRN AMT PRN CALL DSCRETN -MANAGERS- SOLE SHARED NONE
CHAMPION INDS INC W VA COM 158520106 600 25000 SH SOLE 25000
CHAMPION INTL CORP COM 158525105 32227 831662 SH SOLE 831662
CHARMING SHOPPES INC COM 161133103 20235 2490400 SH SOLE 2490400
CHASE MANHATTAN CORP COM 161610100 42423 1225211 SH SOLE 1225211
CHEMICAL BKG CORP COM 163722101 61445 1755564 SH SOLE 1755564
CHEMICAL FINL CORP COM 163731102 870 22300 SH SOLE 22300
CHEVRON CORPORATION COM 166751107 199925 4803000 SH SOLE 4803000
CHEYENNE SOFTWARE INC COM 166888107 1884 203700 SH SOLE 203700
CHICAGO & NORTH WESTN TRANS CO COM 167155100 419 20300 SH SOLE 20300
CHIPCOM CORP COM 169617107 18982 354800 SH SOLE 354800
CHRIS CRAFT INDS INC COM 170520100 667 16619 SH SOLE 16619
CHRISTIANA COS INC COM 170819106 6156 205200 SH SOLE 205200
CHROMCRAFT REVINGTON INC COM 171117104 1576 78800 SH SOLE 78800
CHRYSLER CORP COM 171196108 102327 2280275 SH SOLE 2280275
CHUBB CORP COM 171232101 45713 643850 SH SOLE 643850
CIGNA CORP COM 125509109 35743 580016 SH SOLE 580016
CINCINNATI BELL INC COM 171870108 2202 119000 SH SOLE 119000
CINCINNATI FINL CORP COM 172062101 5084 97300 SH SOLE 97300
CINCINNATI MILACRON INC COM 172172108 11469 445400 SH SOLE 445400
CINTAS CORP COM 172908105 1090 31600 SH SOLE 31600
CIRCON CORP COM 172736100 388 32300 SH SOLE 32300
CIRCUIT CITY STORE INC COM 172737108 11936 461300 SH SOLE 461300
CIRRUS LOGIC CORP COM 172755100 10394 371200 SH SOLE 371200
CISCO SYS INC COM 17275R102 10638 388600 SH SOLE 388600
CITICORP COM 173034109 96710 2275530 SH SOLE 2275530
CITIZENS UTILS CO DEL CL B 177342201 289 21412 SH SOLE 21412
CITY HLDG CO COM 177835105 128 4000 SH SOLE 4000
CLARK EQUIP CO COM 181396102 24708 356800 SH SOLE 356800
CLAYTON HOMES INC COM 184190106 634 33382 SH SOLE 33382
CLINICOM INC COM 18726L108 3479 198800 SH SOLE 198800
CLOROX CO DEL COM 189054109 17050 327100 SH SOLE 327100
CML GROUP INC COM 125820100 363 36750 SH SOLE 36750
CMS ENERGY CORP COM 125896100 3506 161200 SH SOLE 161200
CNA FINL CORP COM 126117100 29843 473700 SH SOLE 473700
COASTAL CORP COM 190441105 14001 502275 SH SOLE 502275
COCA COLA CO COM 191216100 383607 7889100 SH SOLE 7889100
COCA COLA ENTERPRISES INC COM 191219104 2457 136500 SH SOLE 136500
COLGATE PALMOLIVE CO COM 194162103 56940 981730 SH SOLE 981730
COLTEC INDS INC COM 196879100 1400 73700 SH SOLE 73700
COLUMBIA GAS SYS INC COM 197648108 10422 387800 SH SOLE 387800
COLUMBIA 1ST BK FSB WASH D C COM 197901101 4517 114000 SH SOLE 114000
COLUMBIA/HCA HEALTHCARE CORP COM 197677107 36265 833671 SH SOLE 833671
COMCAST CORP CL A SPL 200300200 16981 1111950 SH SOLE 1111950
COMDISCO INC COM 200336105 726 34965 SH SOLE 34965
COMERICA INC COM 200340107 5492 197900 SH SOLE 197900
COMMERCE BANCSHARES INC COM 200525103 2514 84500 SH SOLE 84500
COMMERCIAL FEDERAL CORPORATION COM 201647104 7351 297000 SH SOLE 297000
COMMUNITY BK SYS INC COM 203607106 1748 56400 SH SOLE 56400
COMPAQ COMPUTER CORP COM 204493100 35597 1091100 SH SOLE 1091100
COMPUSA INC COM 204932107 117 11100 SH SOLE 11100
<PAGE> PAGE 7
VALUE SHARES/ SH/ PUT/ INVSTMT -----VOTING AUTHORITY-----
NAME OF ISSUER -TITLE OF CLASS- --CUSIP-- (x$1000) PRN AMT PRN CALL DSCRETN -MANAGERS- SOLE SHARED NONE
COMPUTER ASSOC INTL INC COM 204912109 50814 1148350 SH SOLE 1148350
COMPUTER SCIENCES CORP COM 205363104 30193 694100 SH SOLE 694100
COMSAT CORP COM SER 1 20564D107 2270 88600 SH SOLE 88600
CONAGRA INC COM 205887102 50749 1611075 SH SOLE 1611075
CONRAIL INC COM 208368100 31076 627800 SH SOLE 627800
CONSOLIDATED EDISON CO N Y INC COM 209111103 36591 1471000 SH SOLE 1471000
CONSOLIDATED FREIGHTWAYS INC COM 209237106 7709 350400 SH SOLE 350400
CONSOLIDATED NAT GAS CO COM 209615103 19885 511500 SH SOLE 511500
CONSOLIDATED PAPERS INC COM 209759109 2324 44900 SH SOLE 44900
CONSOLIDATED STORES CORP COM 210149100 452 27600 SH SOLE 27600
CONTEL CELLULAR INC CL A 210904108 1543 65300 SH SOLE 65300
CONTINENTAL CORP COM 211327101 1018 75400 SH SOLE 75400
CONTINENTAL HOMES HLDG CORP COM 21148C102 3585 231300 SH SOLE 231300
COOPER INDS INC COM 216669101 27950 694400 SH SOLE 694400
COOPER TIRE & RUBR CO COM 216831107 27844 1197600 SH SOLE 1197600
COORS ADOLPH CO CL B 217016104 12019 649700 SH SOLE 649700
CORESTATES FINL CORP COM 218695104 17493 657000 SH SOLE 657000
CORNING INC COM 219350105 43875 1355200 SH SOLE 1355200
CORVEL CORP COM 221006109 11 500 SH SOLE 500
CPB INC COM 125903104 3917 147800 SH SOLE 147800
CPC INTL INC COM 126149103 44393 876900 SH SOLE 876900
CRANE CO COM 224399105 10862 423900 SH SOLE 423900
CRAY RESH INC COM 225224104 6273 306000 SH SOLE 306000
CREDENCE SYS CORP COM 225302108 1450 56295 SH SOLE 56295
CRESTAR FINL CORP COM 226091106 2906 63700 SH SOLE 63700
CROMPTON & KNOWLES CORP COM 227111101 498 31600 SH SOLE 31600
CROSSCOMM CORP COM 22757K104 3167 329000 SH SOLE 329000
CROWN CENT PETE CORP CL A 228219101 799 45000 SH SOLE 45000
CROWN CORK & SEAL INC COM 228255105 22407 582000 SH SOLE 582000
CSF HLDGS INC CL B 126335108 499 19200 SH SOLE 19200
CSX CORP COM 126408103 44061 643232 SH SOLE 643232
CULLEN FROST BANKERS INC COM 229899109 7926 207900 SH SOLE 207900
CUMMINS ENGINE INC COM 231021106 14207 360800 SH SOLE 360800
CUSTOM CHROME INC COM 231905100 1097 60500 SH SOLE 60500
CYGNUS THERAPEUTIC SYS COM 232564104 344 47439 SH SOLE 47439
CYPRESS SEMICONDUCTOR CORP COM 232806109 556 32000 SH SOLE 32000
CYPRUS AMAX MINERALS CO COM 232809103 22124 707983 SH SOLE 707983
CYTEC INDS INC COM 232820100 3012 82815 SH SOLE 82815
DAMARK INTL INC CL A 235691102 831 68500 SH SOLE 68500
DANA CORP COM 235811106 11483 413800 SH SOLE 413800
DANAHER CORP DEL COM 235851102 743 16700 SH SOLE 16700
DART GROUP CORP CL A 237415104 4574 57900 SH SOLE 57900
DAYTON HUDSON CORP COM 239753106 41157 538000 SH SOLE 538000
DEAN FOODS CO COM 242361103 2441 80700 SH SOLE 80700
DEAN WITTER DISCOVER & CO COM 24240V101 40947 1088305 SH SOLE 1088305
DEBARTOLO RLTY CORP COM 242733103 1462 100800 SH SOLE 100800
DEERBANK CORP COM 244194106 7 200 SH SOLE 200
DEERE & CO COM 244199105 34127 497300 SH SOLE 497300
DELL COMPUTER CORP COM 247025109 932 24900 SH SOLE 24900
DELMARVA PWR & LT CO COM 247109101 3248 173200 SH SOLE 173200
<PAGE> PAGE 8
VALUE SHARES/ SH/ PUT/ INVSTMT -----VOTING AUTHORITY-----
NAME OF ISSUER -TITLE OF CLASS- --CUSIP-- (x$1000) PRN AMT PRN CALL DSCRETN -MANAGERS- SOLE SHARED NONE
DELPHI FINL GROUP INC CL A 247131105 3337 164800 SH SOLE 164800
DELTA AIR LINES INC DEL COM 247361108 18133 405200 SH SOLE 405200
DELUXE CORP COM 248019101 18271 622000 SH SOLE 622000
DESTEC ENERGY INC COM 25063N100 427 37500 SH SOLE 37500
DETROIT EDISON CO COM 250847100 21905 859000 SH SOLE 859000
DEVON ENERGY CORP COM 251799102 710 34000 SH SOLE 34000
DEXTER CORP COM 252165105 604 26100 SH SOLE 26100
DF&R RESTAURANTS INC COM 23320P109 7054 249700 SH SOLE 249700
DIAL CORP DEL COM 252470109 19719 944600 SH SOLE 944600
DIAL PAGE INC COM 25247P104 5853 269100 SH SOLE 269100
DIAMOND SHAMROCK INC COM 252747100 2155 83700 SH SOLE 83700
DIEBOLD INC COM 253651103 725 17625 SH SOLE 17625
DIGITAL EQUIP CORP COM 253849103 23778 897300 SH SOLE 897300
DILLARD DEPT STORES INC CL A 254063100 22655 846900 SH SOLE 846900
DISCOVERY ZONE INC COM 25468B107 1034 50000 SH SOLE 50000
DISNEY WALT CO DEL COM 254687106 135067 3485600 SH SOLE 3485600
DOLE FOOD INC COM 256605106 2259 81400 SH SOLE 81400
DOLLAR GEN CORP COM 256669102 825 31718 SH SOLE 31718
DOMINION RES INC VA COM 257470104 39666 1064850 SH SOLE 1064850
DONNELLEY R R & SONS CO COM 257867101 35154 1171800 SH SOLE 1171800
DOVER CORP COM 260003108 24968 439000 SH SOLE 439000
DOW CHEM CO COM 260543103 151570 1937000 SH SOLE 1937000
DOW JONES & CO INC COM 260561105 13686 456200 SH SOLE 456200
DRESSER INDS INC COM 261597108 14389 710560 SH SOLE 710560
DSC COMMUNICATIONS CORP COM 233311109 18907 663400 SH SOLE 663400
DU PONT E I DE NEMOURS & CO COM 263534109 227424 3921100 SH SOLE 3921100
DUKE POWER CO COM 264399106 52018 1333800 SH SOLE 1333800
DUN & BRADSTREET CORP COM 264830100 71988 1251971 SH SOLE 1251971
DUTY FREE INTL INC COM 267084101 241 20100 SH SOLE 20100
E M C CORP MASS COM 268648102 2008 99800 SH SOLE 99800
E SYS INC COM PAR $1 269157301 7903 191000 SH SOLE 191000
EASTERN ENTERPRISES COM 27637F100 2756 105000 SH SOLE 105000
EASTMAN CHEM CO COM 277432100 29492 542380 SH SOLE 542380
EASTMAN KODAK CO COM 277461109 112273 2169520 SH SOLE 2169520
EATON CORP COM 278058102 21435 451272 SH SOLE 451272
ECHLIN INC COM 278749106 25093 826100 SH SOLE 826100
ECOLAB INC COM 278865100 2636 121200 SH SOLE 121200
EDISON BROS STORES INC COM 280875105 481 20900 SH SOLE 20900
EDWARDS AG INC COM 281760108 1800 98637 SH SOLE 98637
EG & G INC COM 268457108 705 46200 SH SOLE 46200
EL PASO NAT GAS CO COM NEW 283695872 3028 91400 SH SOLE 91400
ELECTROGLAS INC COM 285324109 1000 20100 SH SOLE 20100
ELECTRONIC ARTS INC COM 285512109 488 26400 SH SOLE 26400
ELECTRONICS FOR IMAGING INC COM 286082102 10571 402700 SH SOLE 402700
EMERSON ELEC CO COM 291011104 87213 1462700 SH SOLE 1462700
ENERGY SVC INC COM NEW 292719408 1031 68700 SH SOLE 68700
ENGELHARD CORP COM 292845104 43820 1630507 SH SOLE 1630507
ENQUIRER/STAR GROUP INC CL A 293554101 1709 101300 SH SOLE 101300
ENRON CORP COM 293561106 47526 1571100 SH SOLE 1571100
ENSERCH CORP COM 293567103 12579 906600 SH SOLE 906600
<PAGE> PAGE 9
VALUE SHARES/ SH/ PUT/ INVSTMT -----VOTING AUTHORITY-----
NAME OF ISSUER -TITLE OF CLASS- --CUSIP-- (x$1000) PRN AMT PRN CALL DSCRETN -MANAGERS- SOLE SHARED NONE
ENTERGY CORP NEW COM 29364G103 30862 1327400 SH SOLE 1327400
ENVIROTEST SYS CORP CL A 29409W105 1818 137200 SH SOLE 137200
EQUIFAX INC COM 294429105 1081 36500 SH SOLE 36500
EQUITABLE COS INC COM 29444G107 2317 117300 SH SOLE 117300
EQUITABLE IOWA COS COM NEW 294510300 1764 49000 SH SOLE 49000
EQUITABLE RES INC COM 294549100 2339 77950 SH SOLE 77950
ETHAN ALLEN INTERIORS INC COM 297602104 6726 297300 SH SOLE 297300
ETHYL CORP COM 297659104 6064 533100 SH SOLE 533100
EXPRESS SCRIPTS INC CL A 302182100 1035 30000 SH SOLE 30000
EXXON CORP COM 302290101 491677 8550900 SH SOLE 8550900
F M C CORP COM NEW 302491303 22653 363900 SH SOLE 363900
FAMILY DLR STORES INC COM 307000109 384 33800 SH SOLE 33800
FEDERAL EXPRESS CORP COM 313309106 16811 271700 SH SOLE 271700
FEDERAL HOME LN MTG CORP COM 313400301 64130 1201500 SH SOLE 1201500
FEDERAL MOGUL CORP COM 313549107 1188 53400 SH SOLE 53400
FEDERAL NATL MTG ASSN COM 313586109 149412 1897300 SH SOLE 1897300
FEDERAL PAPER BRD INC COM 313693103 19467 618000 SH SOLE 618000
FEDERAL REALTY INVT TR SH BEN INT NEW 313747206 385 18000 SH SOLE 18000
FEDERAL SIGNAL CORP COM 313855108 454 24400 SH SOLE 24400
FEDERATED DEPT STORES INC NEW COM 31410J107 4563 198400 SH SOLE 198400
FERRO CORP COM 315405100 443 18000 SH SOLE 18000
FHP INTL CORP COM 302426101 708 24200 SH SOLE 24200
FIBREBOARD CORP NEW COM 315712109 1032 35900 SH SOLE 35900
FILENET CORP COM 316869106 674 29000 SH SOLE 29000
FINGERHUT COS INC COM 317867109 791 34400 SH SOLE 34400
FINISH LINE INC CL A 317923100 875 100000 SH SOLE 100000
FIRST AMER BK CORP COM 318906104 4001 113500 SH SOLE 113500
FIRST AMERN FINL CORP COM 318522307 6105 294200 SH SOLE 294200
FIRST BK SYS INC COM 319279105 6683 183100 SH SOLE 183100
FIRST BRANDS CORP COM 319356101 1481 44200 SH SOLE 44200
FIRST CHICAGO CORP COM 319455101 37157 809971 SH SOLE 809971
FIRST COLONY CORP COM 319741104 1908 91403 SH SOLE 91403
FIRST EMPIRE ST CORP COM 320076102 682 4500 SH SOLE 4500
FIRST FID BANCORPORATION NEW COM 320195100 39847 948730 SH SOLE 948730
FIRST HAWAIIAN INC COM 320506108 969 34600 SH SOLE 34600
FIRST INTST BANCORP COM 320548100 43134 531695 SH SOLE 531695
FIRST MERCHANTS CORP COM 320817109 42 1300 SH SOLE 1300
FIRST MISS CORP COM 320891104 16107 795400 SH SOLE 795400
FIRST SEC CORP DEL COM 336294103 2826 97450 SH SOLE 97450
FIRST TENN NATL CORP COM 337162101 2916 64800 SH SOLE 64800
FIRST UN CORP COM 337358105 45220 1045560 SH SOLE 1045560
FIRST USA INC COM 33743H105 1187 33800 SH SOLE 33800
FIRST VA BANKS INC COM 337477103 2646 68950 SH SOLE 68950
FIRST WESTERN BANCORP INC COM 337505101 5530 201100 SH SOLE 201100
FIRSTAR CORP COM 33761C103 3317 107000 SH SOLE 107000
FLEET FINL GROUP INC NEW COM 338915101 36339 965815 SH SOLE 965815
FLEET MTG GROUP INC COM 339012106 575 29500 SH SOLE 29500
FLEETWOOD ENTERPRISES INC COM 339099103 19618 780800 SH SOLE 780800
FLEMING COS INC COM 339130106 7804 333856 SH SOLE 333856
FLORIDA PROGRESS CORP COM 341109106 5391 190000 SH SOLE 190000
<PAGE> PAGE 10
VALUE SHARES/ SH/ PUT/ INVSTMT -----VOTING AUTHORITY-----
NAME OF ISSUER -TITLE OF CLASS- --CUSIP-- (x$1000) PRN AMT PRN CALL DSCRETN -MANAGERS- SOLE SHARED NONE
FLOWERS INDS INC COM 343496105 658 38400 SH SOLE 38400
FLUOR CORP COM 343861100 24278 488000 SH SOLE 488000
FORD MTR CO DEL COM 345370100 194190 6997852 SH SOLE 6997852
FOREST LABS INC CL A 345838106 1300 26400 SH SOLE 26400
FOSTER WHEELER CORP COM 350244109 1179 34300 SH SOLE 34300
FOUNDATION HEALTH CORP COM 350401105 14518 411850 SH SOLE 411850
FPL GROUP INC COM 302571104 37394 1155024 SH SOLE 1155024
FRESH CHOICE INC COM 358032100 4954 247700 SH SOLE 247700
FUND AMERN ENTERPRISES HLDGS COM 360768105 5912 75800 SH SOLE 75800
GANNETT INC COM 364730101 48451 1009400 SH SOLE 1009400
GAP INC DEL COM 364760108 40015 1217200 SH SOLE 1217200
GARDNER DENVER MACHY INC COM 365558105 267 27776 SH SOLE 27776
GATX CORP COM 361448103 421 10400 SH SOLE 10400
GC COS INC COM 36155Q109 1803 61380 SH SOLE 61380
GEICO CORP COM 361582109 3597 73600 SH SOLE 73600
GENERAL DATACOMM INDS INC COM 369487103 4472 158300 SH SOLE 158300
GENERAL DYNAMICS CORP COM 369550108 21044 481000 SH SOLE 481000
GENERAL ELEC CO COM 369604103 490249 10187000 SH SOLE 10187000
GENERAL MLS INC COM 370334104 68457 1185400 SH SOLE 1185400
GENERAL MTRS CORP CL H 370442501 237249 5088116 SH SOLE 5088116
GENERAL PUB UTILS CP COM 370550105 5418 218900 SH SOLE 218900
GENERAL RE CORP COM 370563108 64245 606800 SH SOLE 606800
GENERAL SIGNAL CORP COM 370838104 17865 508600 SH SOLE 508600
GENSIA INC COM 372450106 577 65000 SH SOLE 65000
GENUINE PARTS CO COM 372460105 19007 541125 SH SOLE 541125
GENZYME CORP COM 372917104 575 16800 SH SOLE 16800
GEORGIA GULF CORP COM PAR $0.01 373200203 1019 25400 SH SOLE 25400
GEORGIA PAC CORP COM 373298108 45685 597187 SH SOLE 597187
GERMANTOWN SVGS BK CYN PA COM 374086106 5721 93600 SH SOLE 93600
GFC FINL CORP COM 361609100 509 14300 SH SOLE 14300
GIANT FOOD INC CL A 374478105 10436 482600 SH SOLE 482600
GIDDINGS & LEWIS INC WIS COM 375048105 1095 61500 SH SOLE 61500
GILLETTE CO COM 375766102 106953 1511700 SH SOLE 1511700
GLATFELTER P H CO COM 377316104 582 34000 SH SOLE 34000
GLOBAL MARINE INC COM 379352404 294 69200 SH SOLE 69200
GOLDEN WEST FINL CORP DEL COM 381317106 28807 727000 SH SOLE 727000
GOODRICH B F CO COM 382388106 19160 456200 SH SOLE 456200
GOODYEAR TIRE & RUBR CO COM 382550101 23493 703900 SH SOLE 703900
GP FINL CORP COM 361935109 2133 89800 SH SOLE 89800
GRACE W R & CO COM 383883105 18011 434000 SH SOLE 434000
GRAINGER W W INC COM 384802104 15423 260300 SH SOLE 260300
GRAND CASINOS INC COM 385269105 3468 252200 SH SOLE 252200
GREAT ATLANTIC & PAC TEA INC COM 390064103 1152 45400 SH SOLE 45400
GREAT LAKES CHEM CORP COM 390568103 24575 418300 SH SOLE 418300
GREAT WESTN FINL CORP COM 391442100 11300 587000 SH SOLE 587000
GREEN TREE FINL CORP COM 393505102 1150 42800 SH SOLE 42800
GREY ADVERTISING INC COM 397838103 2512 15800 SH SOLE 15800
GTE CORP COM 362320103 183219 6031900 SH SOLE 6031900
GUPTA CORP COM 403234107 988 100000 SH SOLE 100000
GYMBOREE CORP COM 403777105 2856 96000 SH SOLE 96000
<PAGE> PAGE 11
VALUE SHARES/ SH/ PUT/ INVSTMT -----VOTING AUTHORITY-----
NAME OF ISSUER -TITLE OF CLASS- --CUSIP-- (x$1000) PRN AMT PRN CALL DSCRETN -MANAGERS- SOLE SHARED NONE
HAEMONETICS CORP COM 405024100 892 49200 SH SOLE 49200
HALLIBURTON CO COM 406216101 20914 663950 SH SOLE 663950
HAMILTON BANCORP INC COM 407008101 4754 166800 SH SOLE 166800
HANCOCK HLDG CO COM 410120109 111 3700 SH SOLE 3700
HANDLEMAN CO DEL COM 410252100 15173 1411400 SH SOLE 1411400
HANNA M A CO COM 410522106 962 37350 SH SOLE 37350
HANNAFORD BROS CO COM 410550107 999 41200 SH SOLE 41200
HARCOURT GEN INC COM 41163G101 21099 613800 SH SOLE 613800
HARLAND JOHN H CO COM 412693103 1600 76200 SH SOLE 76200
HARLEY DAVIDSON INC COM 412822108 1729 62600 SH SOLE 62600
HARNISCHFEGER INDS INC COM 413345109 1171 44400 SH SOLE 44400
HARRIS CORP DEL COM 413875105 40962 842400 SH SOLE 842400
HARSCO CORP COM 415864107 2154 51900 SH SOLE 51900
HARTFORD STEAM BOILER INSP&INS COM 416704104 487 11100 SH SOLE 11100
HASBRO INC COM 418056107 34648 1169550 SH SOLE 1169550
HAVERTY FURNITURE INC COM 419596101 1217 110600 SH SOLE 110600
HAWAIIAN ELEC INDUSTRIES COM 419870100 887 28039 SH SOLE 28039
HEALTH CARE & RETIREMENT DEL COM 421937103 511 18000 SH SOLE 18000
HEALTH CARE PPTY INVS INC COM 421915109 663 22200 SH SOLE 22200
HEALTHSOURCE INC COM 42221E104 10572 297800 SH SOLE 297800
HEALTHSOUTH REHABILITATION CP COM 421924101 3042 77500 SH SOLE 77500
HEALTHTRUST INC - THE HOSP CO COM 42221H107 1946 59200 SH SOLE 59200
HEALTHWISE AMER INC COM 42221L108 108 3787 SH SOLE 3787
HEILIG MEYERS CO COM 422893107 1973 75900 SH SOLE 75900
HEINZ H J CO COM 423074103 58461 1596200 SH SOLE 1596200
HELMERICH & PAYNE INC COM 423452101 10395 369600 SH SOLE 369600
HERCULES INC COM 427056106 32982 320600 SH SOLE 320600
HERSHEY FOODS CORP COM 427866108 20628 458400 SH SOLE 458400
HEWLETT PACKARD CO COM 428236103 147279 1685600 SH SOLE 1685600
HIBERNIA CORP CL A 428656102 1189 148600 SH SOLE 148600
HILTON HOTELS CORP COM 432848109 19136 319600 SH SOLE 319600
HOME DEPOT INC COM 437076102 123080 2930483 SH SOLE 2930483
HOMESTAKE MNG CO COM 437614100 15442 726700 SH SOLE 726700
HON INDS INC COM 438092108 470 18600 SH SOLE 18600
HONEYWELL INC COM 438506107 32631 942400 SH SOLE 942400
HORACE MANN EDUCATORS CORP NEW COM 440327104 1426 58500 SH SOLE 58500
HOSPITALITY FRANCHISE SYS INC COM 440912103 7837 249800 SH SOLE 249800
HOUSEHOLD INTL INC COM 441815107 24231 677800 SH SOLE 677800
HOUSTON INDS INC COM 442161105 33526 951100 SH SOLE 951100
HUNTCO INC CL A 445661101 1396 53700 SH SOLE 53700
HUNTINGTON BANCSHARES INC COM 446150104 3265 180125 SH SOLE 180125
HUTCHINSON TECHNOLOGY INC COM 448407106 6878 250100 SH SOLE 250100
IBP INC COM 449223106 2885 88100 SH SOLE 88100
IDAHO POWER CO COM 451380109 3063 128300 SH SOLE 128300
IDB COMMUNICATIONS GROUP INC COM 449355106 266 29610 SH SOLE 29610
IEC ELECTRS CORP NEW COM 44949L105 4634 331000 SH SOLE 331000
IHOP CORP COM 449623107 9066 326700 SH SOLE 326700
ILLINOIS CENT CORP COM SER A 451841100 666 22200 SH SOLE 22200
ILLINOIS TOOL WKS INC COM 452308109 26420 618000 SH SOLE 618000
IMC FERTILIZER GROUP INC COM 449669100 1958 44000 SH SOLE 44000
<PAGE> PAGE 12
VALUE SHARES/ SH/ PUT/ INVSTMT -----VOTING AUTHORITY-----
NAME OF ISSUER -TITLE OF CLASS- --CUSIP-- (x$1000) PRN AMT PRN CALL DSCRETN -MANAGERS- SOLE SHARED NONE
IMRS INC COM 449696103 334 8900 SH SOLE 8900
INCO LTD COM 453258402 17909 594500 SH SOLE 594500
INFINITY BROADCASTING CORP CL A 456626100 1441 47250 SH SOLE 47250
INFORMATION RES INC COM 456905108 579 45400 SH SOLE 45400
INFORMIX CORP COM 456779107 1610 58000 SH SOLE 58000
INGERSOLL RAND CO COM 456866102 21370 604100 SH SOLE 604100
INLAND STL INDS INC COM 457472108 13147 333900 SH SOLE 333900
INSIGNIA FINL GROUP INC CL A NEW 457956209 497 25000 SH SOLE 25000
INSURANCE AUTO AUCTIONS INC COM 457875102 11388 332500 SH SOLE 332500
INTEGRA FINL CORP COM 458104106 2856 63300 SH SOLE 63300
INTEGRATED DEVICE TECHNOLOGY COM 458118106 689 32800 SH SOLE 32800
INTEL CORP COM 458140100 175293 2850300 SH SOLE 2850300
INTERCONTINENTAL BK MIAMI FLA COM 45853L106 395 20000 SH SOLE 20000
INTERLEAF INC COM 458729100 186 42500 SH SOLE 42500
INTERNATIONAL BUSINESS MACHS COM 459200101 284245 4082508 SH SOLE 4082508
INTERNATIONAL FLAVORS&FRAGRANC COM 459506101 34690 833400 SH SOLE 833400
INTL PAPER CO COM 460146103 66841 851480 SH SOLE 851480
INTUIT COM 461202103 4209 96200 SH SOLE 96200
IPALCO ENTERPRISES INC COM 462613100 3273 111900 SH SOLE 111900
ITEL CORP NEW COM 465642106 1624 49400 SH SOLE 49400
ITT CORP COM 450679105 76697 919900 SH SOLE 919900
JAMES RIV CORP VA COM 470349101 7922 326694 SH SOLE 326694
JDN RLTY CORP COM 465917102 541 24600 SH SOLE 24600
JEFFERSON PILOT CORP COM 475070108 29857 564675 SH SOLE 564675
JLG INDS INC COM 466210101 601 15700 SH SOLE 15700
JOHN ALDEN FINL CORP COM 477838106 2201 60100 SH SOLE 60100
JOHN NUVEEN CO CL A 478035108 417 20200 SH SOLE 20200
JOHNSON & JOHNSON COM 478160104 201054 3885100 SH SOLE 3885100
JOHNSON CTLS INC COM 478366107 3537 71100 SH SOLE 71100
JONES APPAREL GROUP INC COM 480074103 397 16200 SH SOLE 16200
JOSTENS INC COM 481088102 486 27200 SH SOLE 27200
K MART CORP COM 482584109 42130 2356950 SH SOLE 2356950
K-SWISS INC CL A 482686102 565 23800 SH SOLE 23800
KANSAS CITY PWR & LT CO COM 485134100 3732 175600 SH SOLE 175600
KANSAS CITY SOUTHN INDS INC COM 485170104 906 25600 SH SOLE 25600
KAUFMAN & BROAD HOME CORP COM 486168107 301 22100 SH SOLE 22100
KELLOGG CO COM 487836108 68712 1197600 SH SOLE 1197600
KELLY SVCS INC CL A 488152208 618 23475 SH SOLE 23475
KEMPER CORP COM 488396102 3318 54500 SH SOLE 54500
KERR MCGEE CORP COM 492386107 19411 399200 SH SOLE 399200
KEYCORP NEW COM 493267108 12060 395400 SH SOLE 395400
KEYSTONE HERITAGE GROUP INC COM 493489108 684 21700 SH SOLE 21700
KEYSTONE INTL INC COM 493503106 634 32525 SH SOLE 32525
KIMBALL INTL INC CL B 494274103 400 17000 SH SOLE 17000
KIMBERLY CLARK CORP COM 494368103 63756 1085200 SH SOLE 1085200
KIMCO REALTY CORP COM 49446R109 537 14800 SH SOLE 14800
KING WORLD PRODTNS INC COM 495667107 25555 668100 SH SOLE 668100
KNIGHT RIDDER INC COM 499040103 19930 400600 SH SOLE 400600
KOHLS CORP COM 500255104 1023 21100 SH SOLE 21100
KOPIN CORP COM 500600101 254 20300 SH SOLE 20300
<PAGE> PAGE 13
VALUE SHARES/ SH/ PUT/ INVSTMT -----VOTING AUTHORITY-----
NAME OF ISSUER -TITLE OF CLASS- --CUSIP-- (x$1000) PRN AMT PRN CALL DSCRETN -MANAGERS- SOLE SHARED NONE
KRANZCO RLTY TR COM SH BEN INT 50076E103 1456 73700 SH SOLE 73700
KROGER CO COM 501044101 8099 304200 SH SOLE 304200
KU ENERGY CORP COM 482734100 3605 132900 SH SOLE 132900
L A GEAR INC COM 501708101 9 1191 SH SOLE 1191
LAFARGE CORP COM 505862102 2101 104400 SH SOLE 104400
LANCASTER COLONY CORP COM 513847103 583 16666 SH SOLE 16666
LANCE INC COM 514606102 557 30000 SH SOLE 30000
LAWYERS TITLE CORP COM 521029108 503 43700 SH SOLE 43700
LEAR SEATING CORP COM 521893107 1464 79700 SH SOLE 79700
LEE ENTERPRISES INC COM 523768109 818 23700 SH SOLE 23700
LEGENT CORP COM 52465R109 970 36600 SH SOLE 36600
LEGGETT & PLATT INC COM 524660107 4073 116800 SH SOLE 116800
LEHMAN BROS HLDGS INC COM 524908100 9160 620986 SH SOLE 620986
LENNAR CORP COM 526057104 352 23100 SH SOLE 23100
LEUCADIA NATL CORP COM 527288104 631 17600 SH SOLE 17600
LIFE RE CORP COM 532160108 10612 499400 SH SOLE 499400
LILLY ELI & CO COM 532457108 118887 2054200 SH SOLE 2054200
LIMITED INC COM 532716107 44131 2248700 SH SOLE 2248700
LINCOLN NATL CORP IND COM 534187109 16557 443000 SH SOLE 443000
LINEAR TECHNOLOGY CORP COM 535678106 2907 65600 SH SOLE 65600
LITTON INDS INC COM 538021106 10721 287800 SH SOLE 287800
LIZ CLAIBORNE INC COM 539320101 18694 821700 SH SOLE 821700
LOCKHEED CORP DEL COM 539821108 34562 496400 SH SOLE 496400
LOCTITE CORP DEL COM 540137106 907 21100 SH SOLE 21100
LOEWS CORP COM 540424108 6230 70500 SH SOLE 70500
LONE STAR STEAKHOUSE SALOON COM 542307103 3020 119000 SH SOLE 119000
LONGS DRUG STORES CORP COM 543162101 2223 64200 SH SOLE 64200
LORAL CORP COM 543859102 36422 925000 SH SOLE 925000
LOTUS DEV CORP COM 545700106 17662 480600 SH SOLE 480600
LOUISIANA LD & EXPL CO COM 546268103 7503 171500 SH SOLE 171500
LOUISIANA PAC CORP COM 546347105 42400 1280010 SH SOLE 1280010
LOWES COS INC COM 548661107 26937 697400 SH SOLE 697400
LSI LOGIC CORP COM 502161102 964 25700 SH SOLE 25700
LTV CORP NEW COM 501921100 2601 126100 SH SOLE 126100
LUBRIZOL CORP COM 549271104 3486 112000 SH SOLE 112000
LUBYS CAFETERIAS INC COM 549282101 981 42650 SH SOLE 42650
LYONDELL PETROCHEMICAL CO COM 552078107 1992 64000 SH SOLE 64000
M A COM INC COM 552618100 1034 135600 SH SOLE 135600
MAGMA COPPER CO NEW COM 559177209 1367 78700 SH SOLE 78700
MAGMA PWR CO NEW COM 559194105 669 19300 SH SOLE 19300
MALLINCKRODT GROUP INC COM 561226101 10703 330600 SH SOLE 330600
MANOR CARE INC COM 564054104 17996 675900 SH SOLE 675900
MANPOWER INC COM 56418H100 1038 37900 SH SOLE 37900
MANVILLE CORP COM NEW 565020302 385 46700 SH SOLE 46700
MARION MERRELL DOW INC COM 569790108 3064 130400 SH SOLE 130400
MARK IV INDS INC COM 570387100 1540 67700 SH SOLE 67700
MARRIOTT INTL INC COM 571900109 16230 562082 SH SOLE 562082
MARSH & MCLENNAN COS INC COM 571748102 37625 481600 SH SOLE 481600
MARSHALL & ILSLEY CORP COM 571834100 3539 174200 SH SOLE 174200
MARTIN MARIETTA CORP NEW COM 572900108 26954 605700 SH SOLE 605700
<PAGE> PAGE 14
VALUE SHARES/ SH/ PUT/ INVSTMT -----VOTING AUTHORITY-----
NAME OF ISSUER -TITLE OF CLASS- --CUSIP-- (x$1000) PRN AMT PRN CALL DSCRETN -MANAGERS- SOLE SHARED NONE
MARVEL ENTMT GROUP INC COM 573913100 154 8746 SH SOLE 8746
MASCO CORP COM 574599106 16837 697900 SH SOLE 697900
MATTEL INC COM 577081102 27915 1029112 SH SOLE 1029112
MAXUS ENERGY CORP COM 577730104 7196 1599180 SH SOLE 1599180
MAY DEPT STORES CO COM 577778103 78067 1982664 SH SOLE 1982664
MAYTAG CORP COM 578592107 9065 562200 SH SOLE 562200
MBIA INC COM 55262C100 3852 64600 SH SOLE 64600
MBNA CORP COM 55262L100 15557 672750 SH SOLE 672750
MCDERMOTT INTL INC COM 580037109 21463 833500 SH SOLE 833500
MCDONALDS CORP COM 580135101 134408 5096048 SH SOLE 5096048
MCDONNELL DOUGLAS CORP COM 580169100 31751 274900 SH SOLE 274900
MCGRAW HILL INC COM 580645109 24348 332400 SH SOLE 332400
MCI COMMUNICATIONS CORP COM 552673105 96191 3753800 SH SOLE 3753800
MCKESSON CORP COM 581556107 40292 395500 SH SOLE 395500
MCWHORTER TECHNOLOGIES INC COM 582803102 98 5250 SH SOLE 5250
MEAD CORP COM 582834107 18491 355600 SH SOLE 355600
MEDITRUST SH BEN INT 58501T108 749 23400 SH SOLE 23400
MEDTRONIC INC COM 585055106 53351 1009000 SH SOLE 1009000
MEGATEST CORP COM 584958102 173 9600 SH SOLE 9600
MELLON BK CORP COM 585509102 46604 828524 SH SOLE 828524
MELVILLE CORP COM 585745102 22519 632100 SH SOLE 632100
MENTOR CORP MINN COM 587188103 582 34000 SH SOLE 34000
MERCANTILE BANKSHARES CORP COM 587405101 2196 99250 SH SOLE 99250
MERCANTILE STORES INC COM 587533100 22256 536300 SH SOLE 536300
MERCHANTS N Y BANCORP INC COM 589167105 103 2000 SH SOLE 2000
MERCK & CO INC COM 589331107 273447 7675700 SH SOLE 7675700
MERCURY GENL CORP NEW COM 589400100 454 15800 SH SOLE 15800
MEREDITH CORP COM 589433101 12304 264600 SH SOLE 264600
MERIDIAN BANCORP INC COM 589580109 3108 108100 SH SOLE 108100
MERRILL LYNCH & CO INC COM 590188108 49728 1436200 SH SOLE 1436200
MEYER FRED INC DEL COM 593098106 1795 54600 SH SOLE 54600
MFS COMMUNICATIONS INC COM 55272T101 1058 30900 SH SOLE 30900
MICHAELS STORES INC COM 594087108 2321 56000 SH SOLE 56000
MICHIGAN NATL CORP COM 594563108 648 8500 SH SOLE 8500
MICROCHIP TECHNOLOGY INC COM 595017104 4153 105800 SH SOLE 105800
MICRON TECHNOLOGY INC COM 595112103 12567 364250 SH SOLE 364250
MID ATLANTIC MED SVCS INC COM 59523C107 12811 455500 SH SOLE 455500
MID-AMER APT CMNTYS INC COM 59522J103 1182 48000 SH SOLE 48000
MIDLAND CO COM 597486109 72 1900 SH SOLE 1900
MIDLANTIC CORP COM 59780E101 5881 212900 SH SOLE 212900
MIDWEST RES INC COM 598374106 489 34600 SH SOLE 34600
MILLER HERMAN INC COM 600544100 1216 49000 SH SOLE 49000
MINERALS TECHNOLOGIES INC COM 603158106 456 15400 SH SOLE 15400
MINNESOTA MNG & MFG CO COM 604059105 172977 3130800 SH SOLE 3130800
MINNESOTA PWR & LT CO COM 604110106 2976 113900 SH SOLE 113900
MITCHELL ENERGY & DEV CORP CL A 606592202 1269 72000 SH SOLE 72000
MOBIL CORP COM 607059102 217617 2750300 SH SOLE 2750300
MOBILE TELECOMMUNICATIONS TECH COM 607406105 396 19300 SH SOLE 19300
MONEY STORE INC COM 60934T101 3718 183600 SH SOLE 183600
MONSANTO CO COM 611662107 56857 707400 SH SOLE 707400
<PAGE> PAGE 15
VALUE SHARES/ SH/ PUT/ INVSTMT -----VOTING AUTHORITY-----
NAME OF ISSUER -TITLE OF CLASS- --CUSIP-- (x$1000) PRN AMT PRN CALL DSCRETN -MANAGERS- SOLE SHARED NONE
MONTANA POWER CO COM 612085100 3590 154400 SH SOLE 154400
MOORE LTD COM 615785102 8440 459327 SH SOLE 459327
MORGAN J P & CO INC COM 616880100 88750 1460903 SH SOLE 1460903
MORGAN STANLEY GROUP INC COM 617446109 5125 82500 SH SOLE 82500
MORRISON KNUDSEN CORP COM 618447106 446 26800 SH SOLE 26800
MORRISON RESTAURANTS INC COM 618477103 556 20400 SH SOLE 20400
MORTON INTL INC COM 619331101 22787 828600 SH SOLE 828600
MOTOROLA INC COM 620076109 193814 3674200 SH SOLE 3674200
MUELLER INDS INC COM 624756102 1825 54900 SH SOLE 54900
MULTIMEDIA INC NEW COM 62545K107 968 32200 SH SOLE 32200
MURPHY OIL CORP COM 626717102 3319 76300 SH SOLE 76300
N S BANCORP INC COM 628925109 9105 301000 SH SOLE 301000
NABORS INDS INC COM 629568106 290 47300 SH SOLE 47300
NACCO INDS INC CL A 629579103 903 15200 SH SOLE 15200
NALCO CHEM CO COM 629853102 16635 506000 SH SOLE 506000
NATIONAL CITY CORP COM 635405103 7276 258700 SH SOLE 258700
NATIONAL FUEL GAS CO N J COM 636180101 2611 87400 SH SOLE 87400
NATIONAL GOLF PPTYS INC COM 63623G109 5775 285200 SH SOLE 285200
NATIONAL MED ENTERPRISES INC COM 636886103 11796 688800 SH SOLE 688800
NATIONAL SEMICONDUCTOR CORP COM 637640103 1258 80500 SH SOLE 80500
NATIONAL STL CORP CL B 637844309 427 22200 SH SOLE 22200
NATIONAL SVC INDS INC COM 637657107 19300 728300 SH SOLE 728300
NATIONAL WESTN LIFE INS CO CL A 638522102 4336 117200 SH SOLE 117200
NATIONSBANK CORP COM 638585109 90170 1840213 SH SOLE 1840213
NAVIGATORS GROUP INC COM 638904102 322 19500 SH SOLE 19500
NAVISTAR INTL CORP NEW COM 63934E108 1635 117820 SH SOLE 117820
NBD BANCORP INC COM 628900102 17670 617310 SH SOLE 617310
NETFRAME SYS INC COM 641106109 522 43500 SH SOLE 43500
NETWORK GEN CORP COM 641210109 3939 200700 SH SOLE 200700
NEVADA POWER CO COM 641423108 2693 133000 SH SOLE 133000
NEW PLAN RLTY TR SH BEN INT 648059103 767 35900 SH SOLE 35900
NEW YORK TIMES CO CL A 650111107 9002 411508 SH SOLE 411508
NEWELL CO COM 651192106 29892 1343444 SH SOLE 1343444
NEWMONT MINING CORP COM 651639106 38057 845712 SH SOLE 845712
NEXTEL COMMUNICATIONS INC CL A 65332V103 1170 55400 SH SOLE 55400
NIAGARA MOHAWK PWR CORP COM 653522102 13178 985300 SH SOLE 985300
NICOR INC COM 654086107 12140 500600 SH SOLE 500600
NIKE INC CL B 654106103 33210 560500 SH SOLE 560500
NL INDS INC COM NEW 629156407 1530 139100 SH SOLE 139100
NOBLE AFFILIATES INC COM 654894104 907 33900 SH SOLE 33900
NORAM ENERGY CORP COM 655419109 1503 231300 SH SOLE 231300
NORDSON CORP COM 655663102 927 16100 SH SOLE 16100
NORDSTROM INC COM 655664100 18748 468700 SH SOLE 468700
NORFOLK SOUTHERN CORP COM 655844108 73150 1175100 SH SOLE 1175100
NORTH AMERN MTG CO COM 657037107 5929 215600 SH SOLE 215600
NORTH SIDE SVGS BK BRNX NY COM 662488105 3898 165000 SH SOLE 165000
NORTHEAST UTILS COM 664397106 5566 253000 SH SOLE 253000
NORTHERN TELECOM LTD COM 665815106 58589 1686000 SH SOLE 1686000
NORTHERN TR CORP COM 665859104 3708 99700 SH SOLE 99700
NORTHN STS PWR CO MINN COM 665772109 16638 393800 SH SOLE 393800
<PAGE> PAGE 16
VALUE SHARES/ SH/ PUT/ INVSTMT -----VOTING AUTHORITY-----
NAME OF ISSUER -TITLE OF CLASS- --CUSIP-- (x$1000) PRN AMT PRN CALL DSCRETN -MANAGERS- SOLE SHARED NONE
NORTHROP GRUMMAN CORP COM 666807102 20277 448100 SH SOLE 448100
NORTHWEST AIRLS CORP CL A 667280101 2092 115400 SH SOLE 115400
NORWEST CORP COM 669380107 44469 1796740 SH SOLE 1796740
NOVACARE CORP COM 669930109 482 44300 SH SOLE 44300
NOVELL INC COM 670006105 31288 2121200 SH SOLE 2121200
NOVEN PHARMACEUTICALS INC COM 670009109 2015 156500 SH SOLE 156500
NUCOR CORP COM 670346105 42499 610400 SH SOLE 610400
NWNL COS INC COM 62945T104 415 13900 SH SOLE 13900
NYNEX CORP COM 670768100 118375 3074664 SH SOLE 3074664
OCCIDENTAL PETE CORP DEL COM 674599105 46963 2236312 SH SOLE 2236312
OCTEL COMMUNICATIONS CORP COM 675724108 21 1000 SH SOLE 1000
OGDEN CORP COM 676346109 1901 90500 SH SOLE 90500
OGDEN PROJS INC COM 676463102 357 20830 SH SOLE 20830
OHIO EDISON CO COM 677347106 16465 866600 SH SOLE 866600
OKLAHOMA GAS & ELEC CO COM 678858101 3888 115200 SH SOLE 115200
OLD KENT FINL CORP COM 679833103 2678 83700 SH SOLE 83700
OLD REP INTL CORP COM 680223104 2044 97936 SH SOLE 97936
OLD SECOND BANCORP INC ILL COM 680277100 300 7900 SH SOLE 7900
OLIN CORP COM PAR $1 680665205 2300 38900 SH SOLE 38900
OMNICOM GROUP INC COM 681919106 1261 25100 SH SOLE 25100
ONBANCORP INC COM 682303102 5622 206300 SH SOLE 206300
ONECOMM CORP COM 682435102 748 34000 SH SOLE 34000
ONEOK INC COM 682678107 17348 1028000 SH SOLE 1028000
OPTICAL DATA SYS INC COM 68382J103 335 17400 SH SOLE 17400
ORACLE SYSTEMS CORP COM 68389X105 76996 1790600 SH SOLE 1790600
ORYX ENERGY COMPANY COM 68763F100 7579 546200 SH SOLE 546200
OSHKOSH B GOSH INC CL A 688222207 6763 470500 SH SOLE 470500
OUTBACK STEAKHOUSE INC COM 689899102 4184 147450 SH SOLE 147450
OVERSEAS SHIPHOLDING GROUP INC COM 690368105 886 40720 SH SOLE 40720
OWENS CORNING FIBERGLAS CORP COM NEW 690734207 9651 288100 SH SOLE 288100
OWENS ILL INC COM NEW 690768403 494 42500 SH SOLE 42500
OXFORD HEALTH PLANS INC COM 691471106 25911 336500 SH SOLE 336500
PACCAR INC COM 693718108 9122 200215 SH SOLE 200215
PACIFIC ENTERPRISES COM 694232109 8026 377700 SH SOLE 377700
PACIFIC GAS & ELEC CO COM 694308107 60690 2667700 SH SOLE 2667700
PACIFIC PHYSICIAN SVCS INC COM 694755109 1285 80300 SH SOLE 80300
PACIFIC SUNWEAR CALIF INC COM 694873100 1850 137000 SH SOLE 137000
PACIFIC TELECOM INC COM 694876103 589 23800 SH SOLE 23800
PACIFIC TELESIS GROUP COM 694890104 86226 2804084 SH SOLE 2804084
PACIFICARE HEALTH SYS INC CL A 695110106 27874 352000 SH SOLE 352000
PACIFICORP COM 695114108 26593 1575900 SH SOLE 1575900
PAGING NETWORK INC COM 695542100 1655 57300 SH SOLE 57300
PAINE WEBBER GROUP INC COM 695629105 1790 124550 SH SOLE 124550
PALL CORP COM 696429307 21530 1248097 SH SOLE 1248097
PANHANDLE EASTN CORP COM 698462108 28027 1205461 SH SOLE 1205461
PARK NATL CORP COM 700658107 220 5500 SH SOLE 5500
PARKER & PARSLEY PETE CO COM 701018103 1002 40300 SH SOLE 40300
PARKER HANNIFIN CORP COM 701094104 3888 97500 SH SOLE 97500
PAYCHEX INC COM 704326107 725 19200 SH SOLE 19200
PECO ENERGY CO COM 693304107 29458 1160900 SH SOLE 1160900
<PAGE> PAGE 17
VALUE SHARES/ SH/ PUT/ INVSTMT -----VOTING AUTHORITY-----
NAME OF ISSUER -TITLE OF CLASS- --CUSIP-- (x$1000) PRN AMT PRN CALL DSCRETN -MANAGERS- SOLE SHARED NONE
PENN VA CORP COM 707882106 952 28000 SH SOLE 28000
PENNEY J C INC COM 708160106 94494 1830400 SH SOLE 1830400
PENNSYLVANIA PWR & LT CO COM 709051106 5792 289600 SH SOLE 289600
PENNZOIL CO COM 709903108 11072 236200 SH SOLE 236200
PEOPLES ENERGY CORP COM 711030106 13923 530400 SH SOLE 530400
PEP BOYS MANNY MOE & JACK COM 713278109 1202 34600 SH SOLE 34600
PEPSICO INC COM 713448108 175861 5309000 SH SOLE 5309000
PERKIN ELMER CORP COM 714041100 13039 415600 SH SOLE 415600
PERSEPTIVE BIOSYSTEMS INC COM 715271102 568 40000 SH SOLE 40000
PET INC NEW COM 715825105 10503 531800 SH SOLE 531800
PETRIE STORES CORP COM 716434105 762 29600 SH SOLE 29600
PFIZER INC COM 717081103 107358 1553100 SH SOLE 1553100
PHELPS DODGE CORP COM 717265102 30033 484400 SH SOLE 484400
PHILIP MORRIS COS INC COM 718154107 310002 5071600 SH SOLE 5071600
PHILLIPS PETE CO COM 718507106 56540 1650800 SH SOLE 1650800
PHILLIPS VAN HEUSEN CORP COM 718592108 326 15800 SH SOLE 15800
PINNACLE WEST CAP CORP COM 723484101 2651 148300 SH SOLE 148300
PITNEY BOWES INC COM 724479100 36011 1014400 SH SOLE 1014400
PITTENCRIEFF COMMUNICATIONS COM 724514104 2284 198600 SH SOLE 198600
PLACER DOME INC COM 725906101 34565 1375722 SH SOLE 1375722
PLAYERS INTL INC COM 727903106 3133 129200 SH SOLE 129200
PNC BK CORP COM 693475105 33496 1294538 SH SOLE 1294538
POLAROID CORP COM 731095105 16526 470500 SH SOLE 470500
POLICY MGMT SYS CORP COM 731108106 7608 190800 SH SOLE 190800
PORTLAND GEN CORP COM 736506106 2322 137600 SH SOLE 137600
POTLATCH CORP COM 737628107 20126 487900 SH SOLE 487900
POTOMAC ELEC PWR CO COM 737679100 4426 229900 SH SOLE 229900
PPG INDS INC COM 693506107 55911 1411000 SH SOLE 1411000
PRAXAIR INC COM 74005P104 17063 700000 SH SOLE 700000
PREMARK INTL INC COM 740459102 23187 548800 SH SOLE 548800
PRESIDENT RIVERBOAT CASINOS COM 740848106 187 20100 SH SOLE 20100
PRESSTEK INC COM 741113104 11191 258000 SH SOLE 258000
PRICE/COSTCO INC COM 74143W102 13576 845158 SH SOLE 845158
PROCTER & GAMBLE CO COM 742718109 200637 3364976 SH SOLE 3364976
PROMUS COS INC COM 74342A109 24155 718350 SH SOLE 718350
PROVIDENT LIFE & ACC INS CO CL B 743889305 1315 48700 SH SOLE 48700
PROVIDIAN CORP COM 744061102 15385 488400 SH SOLE 488400
PUBLIC SVC ENTERPRISE GROUP COM 744573106 34852 1327690 SH SOLE 1327690
PULTE CORP COM 745867101 1206 55450 SH SOLE 55450
PXRE CORP COM 693674103 3242 111800 SH SOLE 111800
PYXIS CORP COM 747251106 13669 557900 SH SOLE 557900
QUAKER OATS CO COM 747402105 38884 508294 SH SOLE 508294
QUALCOMM INC COM 747525103 5989 236600 SH SOLE 236600
QUALITY FOOD CTRS INC COM 747565109 306 13900 SH SOLE 13900
QUEENS CNTY BANCORP INC COM 748242104 8976 204000 SH SOLE 204000
QUESTAR CORP COM 748356102 2435 85800 SH SOLE 85800
QUINCY SVGS BK MASS COM 748577103 2211 90000 SH SOLE 90000
RAINBOW TECHNOLOGIES INC COM 750862104 2384 205100 SH SOLE 205100
RALCORP HLDGS INC COM 751025107 4647 244600 SH SOLE 244600
RALSTON PURINA CO COM RAL-PUR GP 751277302 30361 733800 SH SOLE 733800
<PAGE> PAGE 18
VALUE SHARES/ SH/ PUT/ INVSTMT -----VOTING AUTHORITY-----
NAME OF ISSUER -TITLE OF CLASS- --CUSIP-- (x$1000) PRN AMT PRN CALL DSCRETN -MANAGERS- SOLE SHARED NONE
RAYCHEM CORP DEL COM 754603108 23530 573900 SH SOLE 573900
RAYONIER INC COM 754907103 7417 229975 SH SOLE 229975
RAYTHEON CO COM 755111101 49537 772500 SH SOLE 772500
REEBOK INTL LTD COM 758110100 22315 624200 SH SOLE 624200
REGIONS FINL CORP COM 758940100 3013 86250 SH SOLE 86250
RELIABLE LIFE INS CO CL A 759421100 178 3300 SH SOLE 3300
RELIANCE ELEC CO NEW COM 759458102 454 17900 SH SOLE 17900
RESOUND CORP COM 761194109 495 45500 SH SOLE 45500
REYNOLDS METALS CO COM 761763101 33918 599000 SH SOLE 599000
RITE AID CORP COM 767754104 11242 541800 SH SOLE 541800
RIVER FOREST BANCORP COM 768200107 678 19500 SH SOLE 19500
RIVERWOOD INTL CORP COM 769507104 1397 75000 SH SOLE 75000
RJR NABISCO HOLDINGS CORP COM 74960K108 11297 1643200 SH SOLE 1643200
ROADWAY SVCS INC COM 769748104 12466 216800 SH SOLE 216800
ROCHESTER TEL CORP COM 771758109 3089 140400 SH SOLE 140400
ROCKWELL INTL CORP COM 774347108 45070 1315900 SH SOLE 1315900
ROGERS CORP COM 775133101 1068 31400 SH SOLE 31400
ROHM & HAAS CO COM 775371107 27049 473500 SH SOLE 473500
ROLLINS INC COM 775711104 963 37950 SH SOLE 37950
ROUSE CO COM 779273101 828 43000 SH SOLE 43000
ROWAN COS INC COM 779382100 385 53100 SH SOLE 53100
ROYAL DUTCH PETE CO NY REG GLDR 5 780257705 181872 1693800 SH SOLE 1693800
RPM INC OHIO COM 749685103 1027 54750 SH SOLE 54750
RUBBERMAID INC COM 781088109 25422 954800 SH SOLE 954800
RUSSELL CORP COM 782352108 13579 445200 SH SOLE 445200
RYDER SYS INC COM 783549108 7051 275152 SH SOLE 275152
S & T BANCORP INC COM 783859101 47 2200 SH SOLE 2200
SAFECO CORP COM 786429100 26837 521100 SH SOLE 521100
SAFETY KLEEN CORP COM 786484105 9394 578100 SH SOLE 578100
SAFEWAY INC COM NEW 786514208 1651 56200 SH SOLE 56200
SAINT JOE PAPER CO COM 790161103 1260 22100 SH SOLE 22100
SALOMON INC COM 79549B107 38509 974900 SH SOLE 974900
SANMINA CORP COM 800907107 2769 114200 SH SOLE 114200
SANTA FE ENERGY RES INC COM 802012104 1331 143900 SH SOLE 143900
SANTA FE PAC CORP COM 802183103 15946 704780 SH SOLE 704780
SARA LEE CORP COM 803111103 68463 3042800 SH SOLE 3042800
SCECORP COM 783882103 48711 3783414 SH SOLE 3783414
SCHERER R P CORP DEL COM 806528105 853 20500 SH SOLE 20500
SCHERING PLOUGH CORP COM 806605101 102254 1440200 SH SOLE 1440200
SCHLUMBERGER LTD COM 806857108 38862 714700 SH SOLE 714700
SCHULER HOMES INC COM 808188106 3243 164200 SH SOLE 164200
SCHULMAN A INC COM 808194104 911 33750 SH SOLE 33750
SCHWAB CHARLES CORP NEW COM 808513105 1133 38250 SH SOLE 38250
SCI MED LIFE SYS INC COM 808614101 4384 100200 SH SOLE 100200
SCIENTIFIC ATLANTA INC COM 808655104 2469 60400 SH SOLE 60400
SCOTT PAPER CO COM 809877103 24412 400200 SH SOLE 400200
SCOTTS CO CL A 810186106 860 55500 SH SOLE 55500
SEAGATE TECHNOLOGY COM 811804103 2774 115600 SH SOLE 115600
SEAGRAM LTD COM 811850106 43560 1440000 SH SOLE 1440000
SEARS ROEBUCK & CO COM 812387108 117382 2445450 SH SOLE 2445450
<PAGE> PAGE 19
VALUE SHARES/ SH/ PUT/ INVSTMT -----VOTING AUTHORITY-----
NAME OF ISSUER -TITLE OF CLASS- --CUSIP-- (x$1000) PRN AMT PRN CALL DSCRETN -MANAGERS- SOLE SHARED NONE
SECURITY CAP CORP WIS COM 814133104 798 17300 SH SOLE 17300
SENSORMATIC ELECTRS CORP COM 817265101 1084 31650 SH SOLE 31650
SEQUA CORPORATION CL A 817320104 5993 223000 SH SOLE 223000
SERVICE CORP INTL COM 817565104 24318 944400 SH SOLE 944400
SERVICE MERCHANDISE INC COM 817587108 411 64500 SH SOLE 64500
SFFED CORP COM 784132102 5117 252700 SH SOLE 252700
SHARED MED SYS CORP COM 819486101 23983 872100 SH SOLE 872100
SHAWMUT NATL CORP COM 820484103 13660 658300 SH SOLE 658300
SHELBY WILLIAMS INDS INC COM 822135109 99 10400 SH SOLE 10400
SHERWIN WILLIAMS CO COM 824348106 13969 448800 SH SOLE 448800
SHOE CARNIVAL INC COM 824889109 509 78250 SH SOLE 78250
SIERRA HEALTH SVCS INC COM 826322109 2410 93600 SH SOLE 93600
SIGNET BKG CORP COM 826681108 3205 92900 SH SOLE 92900
SIMON PPTY GROUP INC COM 828805101 2434 95000 SH SOLE 95000
SMITHS FOOD & DRUG CTRS INC CL B 832388102 658 27000 SH SOLE 27000
SMUCKER J M CO CL A 832696108 378 16000 SH SOLE 16000
SNAP ON INC COM 833034101 11784 334300 SH SOLE 334300
SOFAMOR/DANEK GROUP INC COM 834005100 236 12200 SH SOLE 12200
SOFTWARE ETC STORES INC COM 834031106 953 103000 SH SOLE 103000
SONAT INC COM 835415100 16158 515000 SH SOLE 515000
SOUTHERN CO COM 842587107 82535 4431400 SH SOLE 4431400
SOUTHERN NEW ENGLAND TELECOM COM 843485103 3423 101800 SH SOLE 101800
SOUTHTRUST CORP COM 844730101 3010 150524 SH SOLE 150524
SOUTHWESTERN BELL CORP COM 845333103 180872 4255810 SH SOLE 4255810
SOUTHWESTERN PUB SVC CO COM 845743103 3344 127400 SH SOLE 127400
SPIEGEL INC CL A 848457107 707 39000 SH SOLE 39000
SPORTS & REC INC COM 849168109 2165 83250 SH SOLE 83250
SPRINGS INDS INC COM 851783100 1616 44900 SH SOLE 44900
SPRINT CORP COM 852061100 80246 2104800 SH SOLE 2104800
SPX CORP COM 784635104 521 30000 SH SOLE 30000
ST JUDE MED INC COM 790849103 10063 280500 SH SOLE 280500
ST PAUL COS INC COM 792860108 21084 519000 SH SOLE 519000
STANLEY WKS COM 854616109 8422 207300 SH SOLE 207300
STAPLES INC COM 855030102 1726 52500 SH SOLE 52500
STAR BANC CORP COM 855083101 2735 66700 SH SOLE 66700
STARBUCKS CORP COM 855244109 549 23800 SH SOLE 23800
STATION CASINOS INC COM 857689103 608 45000 SH SOLE 45000
STEWART & STEVENSON SVCS INC COM 860342104 760 20000 SH SOLE 20000
STEWART ENTERPRISES INC CL A 860370105 2685 108500 SH SOLE 108500
STEWART INFORMATION SVCS CORP COM 860372101 4021 231450 SH SOLE 231450
STONE CONTAINER CORP COM 861589109 2209 113300 SH SOLE 113300
STOP & SHOP COS INC NEW COM 862099108 884 35200 SH SOLE 35200
STORAGE TECHNOLOGY CORP COM PAR $0.10 862111200 5713 198700 SH SOLE 198700
STRATUS COMPUTER INC COM 863155107 1529 44000 SH SOLE 44000
STRIDE RITE CORP COM 863314100 382 27300 SH SOLE 27300
STRYKER CORP COM 863667101 1143 32900 SH SOLE 32900
SUBURBAN BANCORPORATION CL A 864346200 184 2600 SH SOLE 2600
SUN INC COM 866762107 22025 766100 SH SOLE 766100
SUN MICROSYSTEMS INC COM 866810104 11597 394800 SH SOLE 394800
SUNBEAM-OSTER INC COM 867071102 1443 59200 SH SOLE 59200
<PAGE> PAGE 20
VALUE SHARES/ SH/ PUT/ INVSTMT -----VOTING AUTHORITY-----
NAME OF ISSUER -TITLE OF CLASS- --CUSIP-- (x$1000) PRN AMT PRN CALL DSCRETN -MANAGERS- SOLE SHARED NONE
SUNDSTRAND CORP COM 867323107 2680 52800 SH SOLE 52800
SUNGLASS HUT INTL INC COM 86736F106 2775 73500 SH SOLE 73500
SUNTRUST BKS INC COM 867914103 36065 739800 SH SOLE 739800
SUPERIOR INDS INTL INC COM 868168105 635 21900 SH SOLE 21900
SUPERVALU INC COM 868536103 3422 131600 SH SOLE 131600
SURGICAL CARE AFFILIATES INC COM 868818105 489 25250 SH SOLE 25250
SYBASE INC COM 871130100 1248 27200 SH SOLE 27200
SYMBOL TECHNOLOGIES INC COM 871508107 1543 50600 SH SOLE 50600
SYNOVUS FINL CORP COM 87161C105 343 18400 SH SOLE 18400
SYSCO CORP COM 871829107 28166 1110000 SH SOLE 1110000
TACO CABANA INC COM 873425102 914 104500 SH SOLE 104500
TANDEM COMPUTERS INC COM 875370108 20455 1239700 SH SOLE 1239700
TANDY CORP COM 875382103 37277 866900 SH SOLE 866900
TECUMSEH PRODS CO CL B 878895101 9571 202000 SH SOLE 202000
TEKTRONIX INC COM 879131100 18697 482500 SH SOLE 482500
TELE COMMUNICATIONS INC NEW CL A 87924V101 53236 2399304 SH SOLE 2399304
TELEDYNE INC COM 879335107 8452 532400 SH SOLE 532400
TEMPLE INLAND INC COM 879868107 13614 246400 SH SOLE 246400
TENNECO INC NEW COM 880370101 56259 1275000 SH SOLE 1275000
TEXACO INC COM 881694103 101592 1693200 SH SOLE 1693200
TEXAS INSTRS INC COM 882508104 36489 536600 SH SOLE 536600
TEXAS UTILS CO COM 882848104 58569 1795205 SH SOLE 1795205
TEXTRON INC COM 883203101 21286 418400 SH SOLE 418400
THERMO INSTR SYS INC COM 883559106 822 26400 SH SOLE 26400
THOMAS & BETTS CORP COM 884315102 9031 133300 SH SOLE 133300
THREE FIVE SYS INC COM 88554L108 3133 70600 SH SOLE 70600
TIDEWATER INC COM 886423102 2911 135400 SH SOLE 135400
TIME WARNER INC COM 887315109 63745 1814800 SH SOLE 1814800
TIMES MIRROR CO DEL CL A 887360105 17743 577000 SH SOLE 577000
TIMKEN CO COM 887389104 1840 48900 SH SOLE 48900
TJX COS INC NEW COM 872540109 20933 996800 SH SOLE 996800
TNT FREIGHTWAYS CORP COM 87259J103 1468 57000 SH SOLE 57000
TOMPKINS CNTY TR CO ITHACA N Y COM 890108103 108 3000 SH SOLE 3000
TOOTSIE ROLL INDS INC COM 890516107 568 9167 SH SOLE 9167
TORCHMARK CORP COM 891027104 19981 455400 SH SOLE 455400
TOSCO CORP COM NEW 891490302 789 27800 SH SOLE 27800
TOYS R US COM 892335100 63621 1785843 SH SOLE 1785843
TRANSAMERICA CORP COM 893485102 26537 528100 SH SOLE 528100
TRANSATLANTIC HLDGS INC COM 893521104 997 19800 SH SOLE 19800
TRANSCO ENERGY CO COM 893532101 6290 419300 SH SOLE 419300
TRAVELERS INC COM 894190107 91172 2773287 SH SOLE 2773287
TRENWICK GROUP INC COM 895290104 4536 122600 SH SOLE 122600
TRIBUNE CO NEW COM 896047107 18279 338500 SH SOLE 338500
TRINITY INDS INC COM 896522109 1133 35700 SH SOLE 35700
TRINOVA CORP COM 896678109 13500 387100 SH SOLE 387100
TRITON ENERGY CORP COM 896750106 1628 50100 SH SOLE 50100
TRW INC COM 872649108 26629 367300 SH SOLE 367300
TYCO INTERNATIONAL LTD COM 902120104 11790 248200 SH SOLE 248200
U S BANCORP ORE COM 911596104 4381 171800 SH SOLE 171800
U S G CORP COM NEW 903293405 11469 552700 SH SOLE 552700
<PAGE> PAGE 21
VALUE SHARES/ SH/ PUT/ INVSTMT -----VOTING AUTHORITY-----
NAME OF ISSUER -TITLE OF CLASS- --CUSIP-- (x$1000) PRN AMT PRN CALL DSCRETN -MANAGERS- SOLE SHARED NONE
U S HOME CORP NEW COM 911920106 1195 74700 SH SOLE 74700
U S WEST INC COM 912889102 105260 2716376 SH SOLE 2716376
UAL CORP COM PAR $0.01 902549500 9062 104315 SH SOLE 104315
UJB FINL CORP COM 902760107 2347 89000 SH SOLE 89000
ULTRAMAR CORP COM 903912103 1747 68500 SH SOLE 68500
UNICOM CORP COM 904911104 36994 1662674 SH SOLE 1662674
UNILEVER N V NEW YORK SHS 904784501 7143 63000 SH SOLE 63000
UNION BK SAN FRANCISCO CALIF COM 905304101 1107 36000 SH SOLE 36000
UNION CAMP CORP COM 905530101 16354 332900 SH SOLE 332900
UNION CARBIDE CORP COM 905581104 29010 853237 SH SOLE 853237
UNION ELEC CO COM 906548102 16825 480700 SH SOLE 480700
UNION PAC CORP COM 907818108 69466 1295400 SH SOLE 1295400
UNISYS CORP COM 909214108 14597 1357900 SH SOLE 1357900
UNITED AMERN HEALTHCARE CORP COM 90934C105 1590 55800 SH SOLE 55800
UNITED ASSET MGMT CORP COM 909420101 482 12800 SH SOLE 12800
UNITED ILLUM CO COM 910637107 389 12900 SH SOLE 12900
UNITED STATES CELLULAR CORP COM 911684108 1434 47000 SH SOLE 47000
UNITED STATES SHOE CORP COM 912605102 1764 81100 SH SOLE 81100
UNITED STATES SURGICAL CORP COM 912707106 13083 486800 SH SOLE 486800
UNITED TECHNOLOGIES CORP COM 913017109 51440 821400 SH SOLE 821400
UNITRIN INC COM 913275103 1925 39900 SH SOLE 39900
UNIVERSAL CORP VA COM 913456109 725 29600 SH SOLE 29600
UNIVERSAL FOODS CORP COM 913538104 670 22600 SH SOLE 22600
UNOCAL CORP COM 915289102 47268 1673204 SH SOLE 1673204
UNUM CORP COM 903192102 3358 73000 SH SOLE 73000
UPJOHN CO COM 915302103 47618 1395400 SH SOLE 1395400
URBAN SHOPPING CTRS INC COM 917060105 1389 62800 SH SOLE 62800
USAIR GROUP INC COM 911905107 3201 692200 SH SOLE 692200
USF&G CORP COM 903290104 8484 640299 SH SOLE 640299
USLIFE CORP COM 917318107 2266 68400 SH SOLE 68400
UST INC COM 902911106 37018 1293200 SH SOLE 1293200
USX MARATHON GROUP COM NEW 902905827 28687 1616145 SH SOLE 1616145
USX-U S STL COM 90337T101 17631 421029 SH SOLE 421029
V F CORP COM 918204108 16348 331100 SH SOLE 331100
VALASSIS COMMUNICATIONS INC COM 918866104 468 30200 SH SOLE 30200
VALERO ENERGY CORP COM 919138107 1586 78300 SH SOLE 78300
VALLEY NATL BANCORP COM 919794107 402 14960 SH SOLE 14960
VALSPAR CORP COM 920355104 358 10500 SH SOLE 10500
VALUE HEALTH INC COM 920393105 11806 245950 SH SOLE 245950
VANGUARD CELLULAR SYS INC CL A 922022108 2040 77700 SH SOLE 77700
VARITY CORP COM NEW 92224R602 3319 88800 SH SOLE 88800
VERIFONE INC COM 923429104 856 36600 SH SOLE 36600
VIACOM INC CL B 925524308 26106 654587 SH SOLE 654587
VICOR CORP COM 925815102 773 30000 SH SOLE 30000
VICTORIA BANKSHARES INC COM 926144106 6510 241100 SH SOLE 241100
VIKING OFFICE PRODS COM 926913104 895 29600 SH SOLE 29600
VISHAY INTERTECHNOLOGY INC COM 928298108 690 15330 SH SOLE 15330
VONS COS INC COM 928869106 506 28100 SH SOLE 28100
VORNADO RLTY TR SH BEN INT 929042109 558 16300 SH SOLE 16300
VULCAN MATLS CO COM 929160109 3981 73900 SH SOLE 73900
<PAGE> PAGE 22
VALUE SHARES/ SH/ PUT/ INVSTMT -----VOTING AUTHORITY-----
NAME OF ISSUER -TITLE OF CLASS- --CUSIP-- (x$1000) PRN AMT PRN CALL DSCRETN -MANAGERS- SOLE SHARED NONE
WABASH NATL CORP COM 929566107 1213 33000 SH SOLE 33000
WACHOVIA CORP COM 929771103 27290 846200 SH SOLE 846200
WAL MART STORES INC COM 931142103 294223 12587100 SH SOLE 12587100
WALGREEN CO COM 931422109 21469 570600 SH SOLE 570600
WALL DATA INC COM 932045107 698 21000 SH SOLE 21000
WARNACO GROUP INC CL A 934390105 527 15100 SH SOLE 15100
WARNER LAMBERT CO COM 934488107 73276 913100 SH SOLE 913100
WASHINGTON FED S&L ASN SEATTLE COM 938828100 3581 175752 SH SOLE 175752
WASHINGTON GAS LT CO COM 938837101 1033 28800 SH SOLE 28800
WASHINGTON MUT SVGS BK SEATTLE COM 939334108 1082 53100 SH SOLE 53100
WASHINGTON WTR PWR CO COM 940688104 3148 217100 SH SOLE 217100
WAUSAU PAPER MLS CO COM 943317107 418 17777 SH SOLE 17777
WEBB DEL CORP COM 947423109 600 38700 SH SOLE 38700
WEINGARTEN RLTY INVS SH BEN INT 948741103 721 20600 SH SOLE 20600
WEIS MKTS INC COM 948849104 556 21900 SH SOLE 21900
WELLFLEET COMMUNICATIONS INC COM 949497101 5452 281400 SH SOLE 281400
WELLMAN INC COM 949702104 1723 50500 SH SOLE 50500
WELLPOINT HEALTH NETWORKS INC CL A 94973G100 1271 45000 SH SOLE 45000
WELLS FARGO & CO DEL COM 949740104 70589 486400 SH SOLE 486400
WELLSFORD RESIDENTIAL PPTY TR COM SH BEN INT 950241109 7482 360600 SH SOLE 360600
WENDYS INTL INC COM 950590109 21372 1473932 SH SOLE 1473932
WESBANCO INC COM 950810101 229 7900 SH SOLE 7900
WESCO FINL CORP COM 950817106 568 4900 SH SOLE 4900
WESTCOTT COMMUNICATIONS INC COM 95752F106 780 57000 SH SOLE 57000
WESTERN ATLAS INC COM 957674104 12591 287800 SH SOLE 287800
WESTERN DIGITAL CORP COM 958102105 1770 119000 SH SOLE 119000
WESTERN GAS RES INC COM 958259103 372 17100 SH SOLE 17100
WESTINGHOUSE ELEC CORP COM 960402105 23559 1812200 SH SOLE 1812200
WESTVACO CORP COM 961548104 13835 362875 SH SOLE 362875
WEYERHAEUSER CO COM 962166104 47816 1071500 SH SOLE 1071500
WHIRLPOOL CORP COM 963320106 23473 456900 SH SOLE 456900
WHITE RIV CORP COM 964452106 1715 49000 SH SOLE 49000
WHITMAN CORP COM 96647K102 8908 531800 SH SOLE 531800
WHITNEY HLDG CORP COM 966612103 1350 50000 SH SOLE 50000
WILLAMETTE INDS INC COM 969133107 4561 89000 SH SOLE 89000
WILLIAMS COS INC DEL COM 969457100 36474 1215800 SH SOLE 1215800
WINN DIXIE STORES INC COM 974280109 30418 608366 SH SOLE 608366
WISCONSIN ENERGY CORP COM 976657106 5905 232700 SH SOLE 232700
WITCO CORP COM 977385103 2829 98400 SH SOLE 98400
WMS INDS INC COM 929297109 284 16100 SH SOLE 16100
WMX TECHNOLOGIES INC COM 92929Q107 97349 3371400 SH SOLE 3371400
WOOLWORTH CORP COM 980883102 18821 1083200 SH SOLE 1083200
WORTHINGTON INDS INC COM 981811102 17594 818325 SH SOLE 818325
WPL HLDGS INC COM 929305100 3285 116800 SH SOLE 116800
WRIGLEY WM JR CO COM 982526105 44369 1088800 SH SOLE 1088800
XEROX CORP COM 984121103 80749 756428 SH SOLE 756428
XILINX INC COM 983919101 7135 142700 SH SOLE 142700
YELLOW CORP COM 985509108 10532 565500 SH SOLE 565500
YOUNKERS INC COM 987767100 821 43200 SH SOLE 43200
ZEBRA TECHNOLOGIES CORP CL A 989207105 2407 65500 SH SOLE 65500
<PAGE> PAGE 23
VALUE SHARES/ SH/ PUT/ INVSTMT -----VOTING AUTHORITY-----
NAME OF ISSUER -TITLE OF CLASS- --CUSIP-- (x$1000) PRN AMT PRN CALL DSCRETN -MANAGERS- SOLE SHARED NONE
ZURN INDS INC COM 989824107 7544 384400 SH SOLE 384400
20TH CENTY INDS CAL COM PAR $10 901272203 776 60900 SH SOLE 60900
3COM CORP COM 885535104 17514 468600 SH SOLE 468600
3DO CO COM 88553W105 559 26700 SH SOLE 26700
REPORT SUMMARY 1054 DATA RECORDS 22512933 0 OTHER MANAGERS ON WHOSE BEHALF REPORT IS FILED
</TABLE>
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