BETHLEHEM STEEL CORP TRUSTEES OF THE PENSION TRUST
13F-HR, 2000-11-13
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<PAGE>
                                 UNITED STATES
                      SECURITIES AND EXCHANGE COMMISSION
                            WASHINGTON, D.C.  20549

                                   FORM 13-F

               INFORMATION REQUIRED OF INSTITUTIONAL INVESTMENT
             MANAGERS PURSUANT TO SECTION 13(F) OF THE SECURITIES
                   EXCHANGE ACT OF 1934 AND RULES THEREUNDER

        Report for the Calendar Year or Quarter Ended:  September 30, 2000

Check here if Amendment:

Institutional Investment Manager Filing this Report:

Name:           Trustees of the Pension Trust of
                Bethlehem Steel Corporation and Subsidiary Companies
Address:        Martin Tower
                Bethlehem, Pennsylvania  18016-7699

Form 13F File Number:  28-313

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:           J. Gerard Mead
Title:          Chairman, Trustees
Phone:          610-694-5507

Signature, Place and Date of Signing:

/s/ J. Gerard Mead
------------------------
J. Gerard Mead
Bethlehem, Pennsylvania
November 13, 2000

Report Type (Check only one.):

     X    13F Holdings Report.
  ------
          13F Notice.
  ------
          13F Combination Report.
  ------






<PAGE>
                                   Form 13F

                                 SUMMARY PAGE


Report Summary:

Number of Other Included Managers:              None

Form 13F Information Table Entry Total:         86

Form 13F Information Table Value Total:         $2,485,929 (thousands)

List of Other Included Managers:                None




























<PAGE>


<TABLE>
<CAPTION>

------------------------------------------------------------------------------------------------------------
   ITEM 1                         ITEM 2       ITEM 3       ITEM 4    ITEM 5       ITEM 6     ITEM 7

                                  TITLE                     MARKET                             OTHER
                                   OF           CUSIP/       VALUE               INVESTMENT   MANAGERS
NAME OF ISSUER                    CLASS         NUMBER     (X $1000)   SH/PRN    DISCRETION
------------------------------------------------------------------------------------------------------------

<S>                                  <C>          <C>         <C>     <C>          <C>          <C>

ABBOTT LABS COM                      COMMON STK   002824100   14269    300000      SOLE
ADC TELECOMMUNICATIONS INC COM       COMMON STK   000886101    3227    120000      SOLE
AGILENT TECHNOLOGIES INC             COMMON STK   00846U100    6607    135000      SOLE
AIR PRODS & CHEMS INC COM            COMMON STK   009158106    5580    155000      SOLE
ALLERGAN INC COM                     COMMON STK   018490102     422      5000      SOLE
ALTERA CORP                          COMMON STK   021441100    1433     30000      SOLE
AMERICAN HOME PRODS CORP             COMMON STK   026609107   30945    547100      SOLE
AMERICAN INTL GROUP INC COM          COMMON STK   026874107   34448    360000      SOLE
AMERICAN POWER CONVERSION            COMMON STK   029066107     863     45000      SOLE
AMGEN INC                            COMMON STK   031162100   12569    180000      SOLE
AMSOUTH BANCORPORATION               COMMON STK   032165102    9500    760003      SOLE
AON CORP COM                         COMMON STK   037389103    8635    220000      SOLE
AT & T CORP                          COMMON STK   001957109   17564    597909      SOLE
AUTOMATIC DATA PROCESSING INC COM    COMMON STK   053015103   67544   1010000      SOLE
AVERY DENNISON CORP                  COMMON STK   053611109   11269    243000      SOLE
BB & T CORP                          COMMON STK   054937107    7079    235000      SOLE
BECTON DICKINSON & CO COM            COMMON STK   075887109    1586     60000      SOLE
BESTFOODS COM                        COMMON STK   08658U101    1455     20000      SOLE
BRISTOL MYERS SQUIBB CO              COMMON STK   110122108   70835   1240000      SOLE
CADENCE DESIGN SYS INC               COMMON STK   127387108    2954    115000      SOLE
CAPITAL ONE FINL CORP                COMMON STK   14040H105   76368   1090000      SOLE
CHEVRON CORP COM                     COMMON STK   166751107    5115     60000      SOLE
CHOICEPOINT INC                      COMMON STK   170388102    3211     70000      SOLE
CISCO SYS INC                        COMMON STK   17275R102   59830   1082900      SOLE
CITIGROUP INC                        COMMON STK   172967101  209042   3866666      SOLE
CLOROX CO COM                        COMMON STK   189054109   35606    900000      SOLE
COMPAQ COMPUTER CORP                 COMMON STK   204493100    8274    300000      SOLE
CONEXANT SYSTEMS INC                 COMMON STK   207142100    1256     30000      SOLE
COSTCO WHOLESALE CORP                COMMON STK   22160K100     699     20000      SOLE
DOLLAR GEN CORP COM                  COMMON STK   256669102    5444    325000      SOLE
EL PASO NAT GAS CO                   COMMON STK   283695872   12325    200000      SOLE
EMC CORP MASS COM                    COMMON STK   268648102  119941   1210000      SOLE
EQUIFAX INC                          COMMON STK   294429105   13738    510000      SOLE
EXXON MOBIL CORP                     COMMON STK   30231G102   47236    530000      SOLE
FIRST DATA CORP                      COMMON STK   319963104    3125     80000      SOLE


</TABLE>







<PAGE>

<TABLE>
<CAPTION>

------------------------------------------------------------------------------------------------------------
   ITEM 1                         ITEM 2       ITEM 3       ITEM 4    ITEM 5       ITEM 6     ITEM 7

                                  TITLE                     MARKET                             OTHER
                                   OF           CUSIP/       VALUE               INVESTMENT   MANAGERS
NAME OF ISSUER                    CLASS         NUMBER     (X $1000)   SH/PRN    DISCRETION
------------------------------------------------------------------------------------------------------------

<S>                                <C>          <C>         <C>        <C>          <C>          <C>

FIRST UN CORP COM                 COMMON STK    337358105    19634      610000      SOLE
FRANKLIN RESOURCES INC COM        COMMON STK    354613101     7109      160000      SOLE
GENERAL ELECTRIC CO COM           COMMON STK    369604103   254402     4410000      SOLE
GILLETTE CO COM                   COMMON STK    375766102     2470       80000      SOLE
GOLDMAN SACHS GROUP INC           COMMON STK    38141G104     1709       15000      SOLE
GUIDANT CORP                      COMMON STK    401698105    14491      205000      SOLE
HEWLETT PACKARD CO COM            COMMON STK    428236103    30555      315000      SOLE
INGERSOLL RAND CO COM             COMMON STK    456866102    14566      430000      SOLE
INTEL CORP COM                    COMMON STK    458140100   137988     3320000      SOLE
JOHNSON & JOHNSON                 COMMON STK    478160104    28181      300000      SOLE
KIMBERLY CLARK CORP COM           COMMON STK    494368103    13395      240000      SOLE
LILLY ELI & CO COM                COMMON STK    532457108    75446      930000      SOLE
LUCENT TECHNOLOGIES INC           COMMON STK    549463107    32243     1055000      SOLE
MASCO CORP COM                    COMMON STK    574599106     9592      515000      SOLE
MATTEL INC COM                    COMMON STK    577081102     7999      715000      SOLE
MAY DEPT STORES CO COM            COMMON STK    577778103     1845       90000      SOLE
MBNA CORP                         COMMON STK    55262L100    33976      882500      SOLE
MCDONALDS CORP COM                COMMON STK    580135101    33055     1095000      SOLE
MEDTRONIC INC COM                 COMMON STK    585055106    41450      800000      SOLE
MERCK & CO INC COM                COMMON STK    589331107    72651      976000      SOLE
MICROSOFT CORP COM                COMMON STK    594918104    35584      590000      SOLE
MOLEX INC CL A                    COMMON STK    608554200    32373      781250      SOLE
MORGAN J P & CO INC COM           COMMON STK    616880100    19605      120000      SOLE
MORGAN STANLEY DEAN WITTER        COMMON STK    617446448      457        5000      SOLE
MOTOROLA INC COM                  COMMON STK    620076109     9181      325000      SOLE
NORTEL NETWORKS CORP NEW          COMMON STK    656568102    30973      520000      SOLE
ORACLE CORP                       COMMON STK    68389X105    83475     1060000      SOLE


</TABLE>








<PAGE>


<TABLE>
<CAPTION>


------------------------------------------------------------------------------------------------------------
   ITEM 1                         ITEM 2       ITEM 3       ITEM 4    ITEM 5       ITEM 6     ITEM 7

                                  TITLE                     MARKET                             OTHER
                                   OF           CUSIP/       VALUE               INVESTMENT   MANAGERS
NAME OF ISSUER                    CLASS         NUMBER     (X $1000)   SH/PRN    DISCRETION
------------------------------------------------------------------------------------------------------------

<S>                                <C>           <C>        <C>      <C>           <C>          <C>


PEPSICO INC COM                    COMMON STK    713448108   24380    530000       SOLE
PFIZER INC COM                     COMMON STK    717081103  145317   3233750       SOLE
PHILIP MORRIS COS INC COM          COMMON STK    718154107   12658    430000       SOLE
PITNEY BOWES INC COM               COMMON STK    724479100    8873    225000       SOLE
QUINTILES TRANSNATIONAL CORP       COMMON STK    748767100     478     30000       SOLE
REGION FINL CORP                   COMMON STK    758940100    6353    280000       SOLE
ROSS STORES                        COMMON STK    778296103     288     20000       SOLE
ROYAL DUTCH PETE CO                COMMON STK    780257705   26373    440000       SOLE
SBC COMMUNICATIONS INC             COMMON STK    78387G103   89000   1780000       SOLE
SCHERING PLOUGH CORP COM           COMMON STK    806605101   80910   1740000       SOLE
SEALED AIR CORP COM                COMMON STK    812115103    5204    115000       SOLE
SHERWIN WILLIAMS CO COM            COMMON STK    824348106    9619    450000       SOLE
SUNTRUST BKS INC COM               COMMON STK    867914103   14446    290000       SOLE
SYMBOL TECHNOLOGIES INC            COMMON STK    871508107    4313    120000       SOLE
TIFFANY & CO NEW                   COMMON STK    886547108    2314     60000       SOLE
TYCO INTL LTD NEW                  COMMON STK    902124106    4409     85000       SOLE
UNITED PARCEL SVC INC              COMMON STK    911312106     395      7000       SOLE
UNITED TECHNOLOGIES CORP COM       COMMON STK    913017109   29778    430000       SOLE
US BANCORP DEL                     COMMON STK    902973106    4323    190000       SOLE
VERITAS SOFTWARE CO                COMMON STK    923436109    1136      8000       SOLE
VULCAN MATLS CO COM                COMMON STK    929160109   14869    370000       SOLE
WELLS FARGO & CO COM               COMMON STK    949746101   35464    772000       SOLE
XEROX CORP COM                     COMMON STK    984121103    6778    450000       SOLE
XLINX INC                          COMMON STK    983919101    3853     45000       SOLE
</TABLE>








<PAGE>
<TABLE>
<CAPTION>

------------------------------------------------------------------------------------------------------------
   ITEM 1                                 ITEM 8

                                      VOTING AUTHORITY

                                    SOLE     SHARED  NONE
NAME OF ISSUER                      (A)      (B)     (C)
------------------------------------------------------------------------------------------------------------

<S>                                 <C>      <C>     <C>

ABBOTT LABS COM                     300000   0       0
ADC TELECOMMUNICATIONS INC COM      120000   0       0
AGILENT TECHNOLOGIES INC            135000   0       0
AIR PRODS & CHEMS INC COM           155000   0       0
ALLERGAN INC COM                      5000   0       0
ALTERA CORP                          30000   0       0
AMERICAN HOME PRODS CORP            547100   0       0
AMERICAN INTL GROUP INC COM         360000   0       0
AMERICAN POWER CONVERSION            45000   0       0
AMGEN INC                           180000   0       0
AMSOUTH BANCORPORATION              760003   0       0
AON CORP COM                        220000   0       0
AT & T CORP                         597909   0       0
AUTOMATIC DATA PROCESSING INC COM  1010000   0       0
AVERY DENNISON CORP                 243000   0       0
BB & T CORP                         235000   0       0
BECTON DICKINSON & CO COM            60000   0       0
BESTFOODS COM                        20000   0       0
BRISTOL MYERS SQUIBB CO            1240000   0       0
CADENCE DESIGN SYS INC              115000   0       0
CAPITAL ONE FINL CORP              1090000   0       0
CHEVRON CORP COM                     60000   0       0
CHOICEPOINT INC                      70000   0       0
CISCO SYS INC                      1082900   0       0
CITIGROUP INC                      3866666   0       0
CLOROX CO COM                       900000   0       0
COMPAQ COMPUTER CORP                300000   0       0
CONEXANT SYSTEMS INC                 30000   0       0
COSTCO WHOLESALE CORP                20000   0       0
DOLLAR GEN CORP COM                 325000   0       0
EL PASO NAT GAS CO                  200000   0       0
EMC CORP MASS COM                  1210000   0       0
EQUIFAX INC                         510000   0       0
EXXON MOBIL CORP                    530000   0       0
FIRST DATA CORP                      80000   0       0
</TABLE>








<PAGE>

<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------
   ITEM 1                                 ITEM 8

                                      VOTING AUTHORITY

                                    SOLE     SHARED  NONE
NAME OF ISSUER                      (A)      (B)     (C)
------------------------------------------------------------------------------------------------------------

<S>                                  <C>       <C>     <C>

FIRST UN CORP COM                     610000   0       0
FRANKLIN RESOURCES INC COM            160000   0       0
GENERAL ELECTRIC CO COM              4410000   0       0
GILLETTE CO COM                        80000   0       0
GOLDMAN SACHS GROUP INC                15000   0       0
GUIDANT CORP                          205000   0       0
HEWLETT PACKARD CO COM                315000   0       0
INGERSOLL RAND CO COM                 430000   0       0
INTEL CORP COM                       3320000   0       0
JOHNSON & JOHNSON                     300000   0       0
KIMBERLY CLARK CORP COM               240000   0       0
LILLY ELI & CO COM                    930000   0       0
LUCENT TECHNOLOGIES INC              1055000   0       0
MASCO CORP COM                        515000   0       0
MATTEL INC COM                        715000   0       0
MAY DEPT STORES CO COM                 90000   0       0
MBNA CORP                             882500   0       0
MCDONALDS CORP COM                   1095000   0       0
MEDTRONIC INC COM                     800000   0       0
MERCK & CO INC COM                    976000   0       0
MICROSOFT CORP COM                    590000   0       0
MOLEX INC CL A                        781250   0       0
MORGAN J P & CO INC COM               120000   0       0
MORGAN STANLEY DEAN WITTER              5000   0       0
MOTOROLA INC COM                      325000   0       0
NORTEL NETWORKS CORP NEW              520000   0       0
ORACLE CORP                          1060000   0       0


</TABLE>






<PAGE>
<TABLE>
<CAPTION>

-----------------------------------------------------------------------------------------------------------
   ITEM 1                                ITEM 8

                                     VOTING AUTHORITY

                                    SOLE     SHARED  NONE
NAME OF ISSUER                      (A)      (B)     (C)
------------------------------------------------------------------------------------------------------------

<S>                                <C>       <C>     <C>

PEPSICO INC COM                     530000   0       0
PFIZER INC COM                     3233750   0       0
PHILIP MORRIS COS INC COM           430000   0       0
PITNEY BOWES INC COM                225000   0       0
QUINTILES TRANSNATIONAL CORP         30000   0       0
REGION FINL CORP                    280000   0       0
ROSS STORES                          20000   0       0
ROYAL DUTCH PETE CO                 440000   0       0
SBC COMMUNICATIONS INC             1780000   0       0
SCHERING PLOUGH CORP COM           1740000   0       0
SEALED AIR CORP COM                 115000   0       0
SHERWIN WILLIAMS CO COM             450000   0       0
SUNTRUST BKS INC COM                290000   0       0
SYMBOL TECHNOLOGIES INC             120000   0       0
TIFFANY & CO NEW                     60000   0       0
TYCO INTL LTD NEW                    85000   0       0
UNITED PARCEL SVC INC                 7000   0       0
UNITED TECHNOLOGIES CORP COM        430000   0       0
US BANCORP DEL                      190000   0       0
VERITAS SOFTWARE CO                   8000   0       0
VULCAN MATLS CO COM                 370000   0       0
WELLS FARGO & CO COM                772000   0       0
XEROX CORP COM                      450000   0       0
XLINX INC                            45000

</TABLE>



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