UNITED STATES
SECURITIES AND EXCHANGE COMMISION
WASHINGTON, D.C. 20549
FORM 13F
FORM 13F COVER PAGE
REPORT FOR CALENDAR YEAR OR QUARTER ENDED: MARCH 31, 1999
CHECK HERE IF AMENDMENT [ ]; AMENDMENT NUMBER:
THIS AMENDMENT (CHECK ONLY ONE.): [ ] IS A RESTATEMENT.
[ ] ADD NEW HOLDINGS ENTRIES
INSTITUTIONAL INVESMENT MANAGER FILING THIS REPORT:
GOFEN AND GLOSSBERG, L.L.C.
455 CITYFRONT PLAZA
SUITE 3000
CHICAGO, IL 60611
13F FILE NUMBER: 28-1240
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 : TOM DESKE
TITLE : COMPLIANCE OFFICER
PHONE : 312-832-1530
SIGNATURE, PLACE, AND DATE OF SIGNING:
TOM DESKE CHICAGO, ILLINOIS MAY 5, 1999
REPORT TYPE (CHECK ONLY ONE.) :
[X] 13F HOLDINGS REPORT.
[ ] 13F NOTICE.
[ ] 13 COMBINATION REPORT.
LIST OF OTHER MANAGERS REPORTING FOR THIS MANAGER :
I AM SIGNING THIS REPORT AS REQUIRED BY THE SECURITIES EXCHANGE
ACT OF 1934.
<PAGE>
FORM 13F SUMMARY PAGE
REPORT SUMMARY:
NUMBER OF OTHER INCLUDED MANAGERS: 0
FORM 13F INFORMATION TABLE ENTRY TOTAL: 534
FORM 13F INFORMATION TABLE VALUE TOTAL: 1,823,934,00
LIST OF OTHER INCLUDED MANAGERS:
<PAGE>
<TABLE>
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
- ------------------------ ------------- -------- ------- ------- -- ---- ------- ---------- ------ ------ -------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
ALZA CORP DEL SUB DB CONV 5%06 022615AD0 1,293,000 1,115,000 SH 1,115,000
AUTOMATIC DATA PROCLYON SUB ZERO 12 053015AC7 724,000 675,000 SH 675,000
CHIRON CORP SB CV ADJ 144A00 170040AB5 532,000 550,000 SH 550,000
DATA GENERAL CORP SUB NT CONV 6%04 237688AG1 164,000 200,000 SH 200,000
DURA PHARMACEUTICALSUB NT CV 3.5%02 26632SAA7 1,703,000 2,248,000 SH 2,248,000
JACOR COMMUNICATIONLYON ZERO CPN 11 469858AA2 397,000 385,000 SH 385,000
OAK INDS INC SB NT CV4.875%08 671400AL3 207,000 200,000 SH 200,000
OFFICE DEPOT INC LYON SUB ZERO 08 676220AB2 249,000 290,000 SH 290,000
SEAGRAM JOSEPH E & LYON CV ZERO 06 811845AH9 450,000 500,000 SH 500,000
SYSTEMS & COMPUTER SUB DB CONV 5%04 871873AB1 1,487,000 2,065,000 SH 2,065,000
TELE-COMMUNICATIONSSUB DB CV 4.5%06 87924HAA0 372,000 349,000 SH 349,000
UNITED STATES CELLULYON ZERO 15 911684AA6 540,000 1,190,000 SH 1,190,000
VALHI INC NEW LYON ZERO CPN 07 918905AC4 495,000 825,000 SH 825,000
AIRTOUCH COMMUNICATPFD B CV 6.00% 00949T209 746,000 9,478 SH 9,478
AIRTOUCH COMMUNICATPFD C CV 4.25% 00949T308 818,000 6,083 SH 6,083
PROLOGIS TR PFD CV SBI B 743410300 1,038,000 40,800 SH 40,800
SEALED AIR CORP PFD CV A $2 81211K209 2,683,000 54,195 SH 54,195
LORAL SPACE & COMMUPFD CONV C 6% G56462149 231,000 5,085 SH 5,085
BOEING CO COM 097023105 4,496,000 132,248 SH 132,248
LOCKHEED MARTIN CORCOM 539830109 9,274,000 245,678 SH 245,678
RAYTHEON CO CL B 755111408 279,000 4,755 SH 4,755
LORAL SPACE & COMMUCOM G56462107 5,230,000 362,296 SH 362,296
FORD MTR CO DEL COM 345370100 425,000 7,492 SH 7,492
GENERAL MTRS CORP COM 370442105 1,145,000 13,156 SH 13,156
MIDAS GROUP INC COM 595626102 1,311,000 39,287 SH 39,287
ASSOCIATED BANC CORCOM 045487105 1,619,000 50,680 SH 50,680
BANK NEW YORK INC COM 064057102 4,639,000 129,084 SH 129,084
BANK ONE CORP COM 06423A103 7,747,000 140,692 SH 140,692
BANKAMERICA CORP NECOM 06605F102 8,281,000 117,252 SH 117,252
BANKBOSTON CORP COM 06605R106 459,000 10,600 SH 10,600
BANKERS TR CORP COM 066365107 2,374,000 26,903 SH 26,903
CHASE MANHATTAN CORCOM 16161A108 21,802,000 267,919 SH 267,919
COMERICA INC COM 200340107 5,418,000 86,775 SH 86,775
FIRST UN CORP COM 337358105 415,000 7,759 SH 7,759
FIRSTAR CORP NEW WICOM 33763V109 5,283,000 59,027 SH 59,027
FLEET FINL GROUP INCOM 338915101 417,000 11,090 SH 11,090
FLEET FINL GROUP INWT EXP 012701 338915119 792,000 22,624 SH 22,624
GOLDEN ST BANCORP IWT EXP 082100 381197128 1,410,000 88,100 SH 88,100
HUNTINGTON BANCSHARCOM 446150104 3,679,000 118,904 SH 118,904
MARSHALL & ILSLEY CCOM 571834100 271,000 4,891 SH 4,891
MELLON BK CORP COM 585509102 985,000 14,000 SH 14,000
MERCANTILE BANCORPOCOM 587342106 357,000 7,517 SH 7,517
MORGAN J P & CO INCCOM 616880100 8,012,000 64,941 SH 64,941
NORTH FORK BANCORPOCOM 659424105 718,000 34,000 SH 34,000
NORTHERN TR CORP COM 665859104 17,822,000 200,675 SH 200,675
OLD KENT FINL CORP COM 679833103 1,111,000 26,251 SH 26,251
PNC BK CORP COM 693475105 4,128,000 74,304 SH 74,304
SUNTRUST BKS INC COM 867914103 440,000 7,064 SH 7,064
US BANCORP DEL COM 902973106 1,238,000 36,339 SH 36,339
U S TR CORP NEW COM 91288L105 2,191,000 29,532 SH 29,532
WELLS FARGO & CO NECOM 949746101 4,234,000 120,760 SH 120,760
AMGEN INC COM 031162100 3,838,000 51,260 SH 51,260
DELTA & PINE LD CO COM 247357106 800,000 26,032 SH 26,032
MONSANTO CO COM 611662107 4,554,000 99,144 SH 99,144
NORTH AMERN VACCINECOM 657201109 383,000 62,574 SH 62,574
NORTHFIELD LABS INCCOM 666135108 692,000 62,950 SH 62,950
DOVER CORP COM 260003108 395,000 12,000 SH 12,000
MASCO CORP COM 574599106 2,664,000 94,316 SH 94,316
PPG INDS INC COM 693506107 555,000 10,833 SH 10,833
SHERWIN WILLIAMS COCOM 824348106 4,927,000 175,182 SH 175,182
SOUTHDOWN INC COM 841297104 333,000 6,198 SH 6,198
STANDARD PAC CORP NCOM 85375C101 142,000 11,000 SH 11,000
WEYERHAEUSER CO COM 962166104 912,000 16,435 SH 16,435
CONCORD EFS INC COM 206197105 229,000 8,313 SH 8,313
DUN & BRADSTREET COCOM 26483B106 214,000 6,000 SH 6,000
OMNICOM GROUP INC COM 681919106 3,752,000 46,940 SH 46,940
DOW CHEM CO COM 260543103 633,000 6,794 SH 6,794
DU PONT E I DE NEMOCOM 263534109 13,946,000 240,191 SH 240,191
AMERICAN TOWER CL ACL A 029912201 1,835,000 74,900 SH 74,900
ANICOM INC COM 035250109 106,000 12,100 SH 12,100
GENERAL INSTR CORP COM 370120107 1,798,000 59,300 SH 59,300
HARRIS CORP DEL COM 413875105 288,000 10,050 SH 10,050
L-3 COMMUNICATIONS COM 502424104 5,980,000 129,290 SH 129,290
NOKIA CORP SPONSORED ADR 654902204 218,000 1,400 SH 1,400
PLANTRONICS INC NEWCOM 727493108 8,405,000 134,348 SH 134,348
COMDISCO INC COM 200336105 219,000 12,254 SH 12,254
COMPAQ COMPUTER CORCOM 204493100 12,815,000 404,435 SH 404,435
DELL COMPUTER CORP COM 247025109 897,000 21,940 SH 21,940
DIEBOLD INC COM 253651103 3,775,000 157,296 SH 157,296
EMC CORP MASS COM 268648102 287,000 2,250 SH 2,250
HEWLETT PACKARD CO COM 428236103 1,594,000 23,506 SH 23,506
INTERNATIONAL BUSINCOM 459200101 60,513,000 341,399 SH 341,399
SUN MICROSYSTEMS INCOM 866810104 850,000 6,800 SH 6,800
3COM CORP COM 885535104 1,111,000 47,663 SH 47,663
AMERICA ONLINE INC COM 02364J104 545,000 3,705 SH 3,705
AUTOMATIC DATA PROCCOM 053015103 741,000 17,900 SH 17,900
AXENT TECHNOLOGIES COM 05459C108 289,000 12,000 SH 12,000
BELL & HOWELL CO NECOM 077852101 1,903,000 64,934 SH 64,934
CADENCE DESIGN SYSTCOM 127387108 309,000 12,000 SH 12,000
CISCO SYS INC COM 17275R102 2,048,000 18,690 SH 18,690
COMPUTER ASSOC INTLCOM 204912109 2,807,000 78,934 SH 78,934
COMPUTER SCIENCES CCOM 205363104 1,686,000 30,552 SH 30,552
DST SYS INC DEL COM 233326107 302,000 5,034 SH 5,034
ELECTRONIC DATA SYSCOM 285661104 1,665,000 34,197 SH 34,197
FIRST DATA CORP COM 319963104 8,266,000 193,349 SH 193,349
FISERV INC COM 337738108 547,000 10,200 SH 10,200
IMS HEALTH INC COM 449934108 16,721,000 504,790 SH 504,790
MICROSOFT CORP COM 594918104 43,118,000 481,088 SH 481,088
NETWORK ASSOCS INC COM 640938106 465,000 15,150 SH 15,150
ORACLE CORP COM 68389X105 583,000 22,115 SH 22,115
PEOPLESOFT INC COM 712713106 527,000 36,041 SH 36,041
TRO LEARNING INC COM 87263R109 78,000 13,000 SH 13,000
WANG LABS INC NEW COM 93369N109 285,000 14,532 SH 14,532
YAHOO INC COM 984332106 210,000 1,248 SH 1,248
ALLIEDSIGNAL INC COM 019512102 845,000 17,174 SH 17,174
BERKSHIRE HATHAWAY CL A 084670108 1,214,000 17 SH 17
BERKSHIRE HATHAWAY CL B 084670207 498,000 212 SH 212
CORNING INC COM 219350105 235,000 3,916 SH 3,916
FORTUNE BRANDS INC COM 349631101 225,000 5,832 SH 5,832
TYCO INTL LTD NEW COM 902124106 1,009,000 14,059 SH 14,059
UNITED TECHNOLOGIESCOM 913017109 1,925,000 14,215 SH 14,215
WHITMAN CORP COM 96647K102 4,568,000 265,793 SH 265,793
AVIS RENT A CAR INCCOM 053790101 1,755,000 63,400 SH 63,400
CENDANT CORP COM 151313103 7,680,000 481,904 SH 481,904
HILLENBRAND INDS INCOM 431573104 203,000 4,400 SH 4,400
PAYCHEX INC COM 704326107 2,584,000 54,474 SH 54,474
SERVICE CORP INTL COM 817565104 945,000 66,335 SH 66,335
APTARGROUP INC COM 038336103 1,894,000 72,850 SH 72,850
BALL CORP COM 058498106 4,145,000 88,300 SH 88,300
GAYLORD CONTAINER CWT EXP 110202 368145116 129,000 18,751 SH 18,751
SEALED AIR CORP NEWCOM 81211K100 2,721,000 55,324 SH 55,324
SMURFIT-STONE CONTACOM 832727101 737,000 38,172 SH 38,172
KEMPER INTER GOVT TSH BEN INT 488413105 137,000 18,775 SH 18,775
AMERICAN SAFETY RAZCOM 029362100 298,000 21,500 SH 21,500
AVON PRODS INC COM 054303102 3,076,000 65,350 SH 65,350
GILLETTE CO COM 375766102 23,386,000 393,458 SH 393,458
COMVERSE TECHNOLOGYCOM PAR $0.10 205862402 1,409,000 16,577 SH 16,577
EMERSON ELEC CO COM 291011104 1,405,000 26,548 SH 26,548
GENERAL CABLE CORP COM 369300108 422,000 40,000 SH 40,000
GENERAL ELEC CO COM 369604103 62,096,000 561,317 SH 561,317
GRAINGER W W INC COM 384802104 8,880,000 206,208 SH 206,208
HOLOPHANE CORP COM 43645B106 2,038,000 92,650 SH 92,650
HUSSMANN INTL INC COM 448110106 2,555,000 173,967 SH 173,967
KONINKLIJKE PHILIPSSPONSORED ADR 500472105 10,458,000 126,860 SH 126,860
MATSUSHITA ELEC INDADR 576879209 265,000 1,368 SH 1,368
ATMI INC COM 00207R101 740,000 37,000 SH 37,000
BECKMAN COULTER INCCOM 075811109 4,168,000 94,185 SH 94,185
HONEYWELL INC COM 438506107 10,378,000 136,885 SH 136,885
INTEL CORP COM 458140100 28,447,000 239,306 SH 239,306
KEMET CORP COM 488360108 224,000 19,500 SH 19,500
MOTOROLA INC COM 620076109 21,978,000 300,042 SH 300,042
QLOGIC CORP COM 747277101 725,000 10,800 SH 10,800
SOLECTRON CORP COM 834182107 2,166,000 44,606 SH 44,606
ATLANTIC RICHFIELD COM 048825103 3,234,000 44,226 SH 44,226
BP AMOCO PLC SPONSORED ADR 055622104 15,204,000 150,531 SH 150,531
BURLINGTON RES INC COM 122014103 3,203,000 80,197 SH 80,197
CHEVRON CORPORATIONCOM 166751107 2,810,000 31,666 SH 31,666
ENI S P A SPONSORED ADR 26874R108 5,795,000 91,800 SH 91,800
EXXON CORP COM 302290101 26,506,000 375,645 SH 375,645
MOBIL CORP COM 607059102 5,812,000 66,048 SH 66,048
MURPHY OIL CORP COM 626717102 399,000 9,625 SH 9,625
R & B FALCON CORP COM 74912E101 585,000 67,863 SH 67,863
ROYAL DUTCH PETE CONY REG GLDR 1.2 780257804 8,603,000 165,434 SH 165,434
SAN JUAN BASIN RTY UNIT BEN INT 798241105 182,000 27,000 SH 27,000
TEXACO INC COM 881694103 3,347,000 58,974 SH 58,974
UNOCAL CORP COM 915289102 771,000 20,915 SH 20,915
AT&T Corp. COM LIB GRP A 001957208 20,949,000 398,328 SH 398,328
CBS CORP COM 12490K107 15,188,000 372,153 SH 372,153
CABLEVISION SYS CORCL A 12686C109 563,000 7,600 SH 7,600
CARMIKE CINEMAS INCCL A 143436103 796,000 44,054 SH 44,054
CARNIVAL CORP COM 143658102 408,000 8,400 SH 8,400
CENTURY COMMUNICATICL A 156503104 210,000 4,524 SH 4,524
CHANCELLOR MEDIA COCOM 158915108 3,513,000 74,554 SH 74,554
COX COMMUNICATIONS CL A 224044107 2,625,000 34,710 SH 34,710
DISNEY WALT CO COM 254687106 15,367,000 493,704 SH 493,704
EMMIS COMMUNICATIONCL A 291525103 3,357,000 67,130 SH 67,130
FOX ENTMT GROUP INCCL A 35138T107 6,829,000 251,753 SH 251,753
GRANITE BROADCASTINCOM 387241102 89,000 13,500 SH 13,500
INFINITY BROADCASTICL A 45662S102 1,007,000 39,100 SH 39,100
METRO GOLDWYN MAYERCOM 591610100 386,000 29,400 SH 29,400
TBA ENTMT CORP COM 872173109 41,000 10,000 SH 10,000
TV GUIDE INC CL A 87307Q109 7,427,000 201,400 SH 201,400
TIME WARNER INC COM 887315109 44,525,000 628,782 SH 628,782
USA NETWORKS INC COM 902984103 1,655,000 46,200 SH 46,200
VIACOM INC CL B 925524308 948,000 11,293 SH 11,293
WESTWOOD ONE INC COM 961815107 3,104,000 108,900 SH 108,900
YOUNG BROADCASTING CL A 987434107 1,268,000 27,800 SH 27,800
AFFILIATED MANAGERSCOM 008252108 234,000 9,000 SH 9,000
AMERICAN EXPRESS COCOM 025816109 20,968,000 178,073 SH 178,073
ASSOCIATES FIRST CACL A 046008108 445,000 9,883 SH 9,883
CITIGROUP INC COM 172967101 8,660,000 135,585 SH 135,585
FEDERAL AGRIC MTG CCL C 313148306 8,394,000 159,500 SH 159,500
FEDERAL HOME LN MTGCOM 313400301 549,000 9,576 SH 9,576
FEDERAL NATL MTG ASCOM 313586109 18,247,000 263,488 SH 263,488
FINOVA GROUP INC COM 317928109 1,758,000 33,880 SH 33,880
HOUSEHOLD INTL INC COM 441815107 21,869,000 479,329 SH 479,329
JOHN NUVEEN CO CL A 478035108 762,000 18,200 SH 18,200
MBNA CORP COM 55262L100 1,693,000 70,917 SH 70,917
MGIC INVT CORP WIS COM 552848103 2,267,000 64,656 SH 64,656
MORGAN STANLEY DEANCOM NEW 617446448 1,733,000 17,336 SH 17,336
FOOD LION INC CL A 344775200 215,000 23,370 SH 23,370
KROGER CO COM 501044101 3,347,000 55,901 SH 55,901
SAFEWAY INC COM NEW 786514208 12,285,000 239,420 SH 239,420
SUPERVALU INC COM 868536103 264,000 12,816 SH 12,816
ANHEUSER BUSCH COS COM 035229103 754,000 9,900 SH 9,900
BESTFOODS COM 08658U101 794,000 16,898 SH 16,898
CAMPBELL SOUP CO COM 134429109 1,744,000 42,858 SH 42,858
COCA COLA CO COM 191216100 12,704,000 206,991 SH 206,991
DEAN FOODS CO COM 242361103 214,000 6,000 SH 6,000
GENERAL MLS INC COM 370334104 670,000 8,870 SH 8,870
HEINZ H J CO COM 423074103 4,419,000 93,273 SH 93,273
HERSHEY FOODS CORP COM 427866108 1,395,000 24,880 SH 24,880
LINCOLN SNACKS CO COM 534744107 216,000 203,750 SH 203,750
MCCORMICK & CO INC COM NON VTG 579780206 3,465,000 119,498 SH 119,498
PEPSICO INC COM 713448108 22,567,000 575,881 SH 575,881
QUAKER OATS CO COM 747402105 1,635,000 26,257 SH 26,257
RICHFOOD HLDGS INC COM 763408101 690,000 32,000 SH 32,000
SARA LEE CORP COM 803111103 3,912,000 158,049 SH 158,049
SEAGRAM LTD COM 811850106 1,139,000 22,770 SH 22,770
SUIZA FOODS CORP COM 865077101 390,000 11,585 SH 11,585
SYSCO CORP COM 871829107 244,000 9,280 SH 9,280
UNILEVER N V NEW YORK SHS 904784501 233,000 3,500 SH 3,500
UNIVERSAL FOODS CORCOM 913538104 859,000 41,656 SH 41,656
WRIGLEY WM JR CO COM 982526105 5,285,000 58,433 SH 58,433
PANAMERICAN BEVERAGCL A P74823108 321,000 18,300 SH 18,300
ABBOTT LABS COM 002824100 22,309,000 476,571 SH 476,571
ALLERGAN INC COM 018490102 1,295,000 14,740 SH 14,740
AMERISOURCE HEALTH CL A 03071P102 232,000 6,800 SH 6,800
BAXTER INTL INC COM 071813109 917,000 13,889 SH 13,889
BECTON DICKINSON & COM 075887109 1,086,000 28,334 SH 28,334
CLOSURE MED CORP COM 189093107 418,000 11,000 SH 11,000
EPIX MEDICAL INC COM 26881Q101 994,000 124,200 SH 124,200
JOHNSON & JOHNSON COM 478160104 37,707,000 403,286 SH 403,286
MEDTRONIC INC COM 585055106 890,000 12,383 SH 12,383
PATTERSON DENTAL COCOM 703412106 735,000 17,000 SH 17,000
TENET HEALTHCARE COCOM 88033G100 448,000 23,650 SH 23,650
VASOMEDICAL INC COM 922321104 14,000 10,000 SH 10,000
LEGGETT & PLATT INCCOM 524660107 405,000 20,248 SH 20,248
MAYTAG CORP COM 578592107 5,841,000 96,739 SH 96,739
BLYTH INDS INC COM 09643P108 467,000 19,750 SH 19,750
CLOROX CO DEL COM 189054109 3,131,000 26,720 SH 26,720
COLGATE PALMOLIVE CCOM 194162103 4,525,000 49,190 SH 49,190
KIMBERLY CLARK CORPCOM 494368103 3,698,000 77,146 SH 77,146
PROCTER & GAMBLE COCOM 742718109 44,156,000 450,860 SH 450,860
AETNA COM 008117103 201,000 2,418 SH 2,418
ALLSTATE CORP COM 020002101 2,594,000 69,984 SH 69,984
AMERICAN GENERAL COCOM 026351106 559,000 7,933 SH 7,933
AMERICAN INTL GROUPCOM 026874107 9,027,000 74,833 SH 74,833
AON CORP COM 037389103 728,000 11,505 SH 11,505
CIGNA CORP COM 125509109 1,428,000 17,038 SH 17,038
CMAC INVT CORP COM 125662106 809,000 20,750 SH 20,750
CHUBB CORP COM 171232101 2,374,000 40,546 SH 40,546
EVEREST REINS HLDGSCOM 299808105 9,570,000 306,855 SH 306,855
HSB GROUP INC COM 40428N109 937,000 25,250 SH 25,250
HARTFORD FINL SVCS COM 416515104 538,000 9,478 SH 9,478
LINCOLN NATL CORP ICOM 534187109 565,000 5,710 SH 5,710
MBIA INC COM 55262C100 16,818,000 289,965 SH 289,965
MARSH & MCLENNAN COCOM 571748102 401,000 5,400 SH 5,400
MONY GROUP INC COM 615337102 724,000 29,125 SH 29,125
OLD REP INTL CORP COM 680223104 6,758,000 370,325 SH 370,325
ANNUITY AND LIFE REORD G03910109 2,775,000 121,300 SH 121,300
STARWOOD HOTELS & RPAIRED CTF 85590A203 430,000 15,069 SH 15,069
DEERE & CO COM 244199105 2,994,000 77,520 SH 77,520
IDEX CORP COM 45167R104 3,331,000 141,352 SH 141,352
ILLINOIS TOOL WKS ICOM 452308109 609,000 9,850 SH 9,850
ALCOA INC COM 013817101 224,000 5,440 SH 5,440
COMTREX SYS CORP COM 205920101 151,000 123,638 SH 123,638
PITNEY BOWES INC COM 724479100 4,800,000 75,290 SH 75,290
XEROX CORP COM 984121103 30,593,000 586,921 SH 586,921
MINNESOTA MNG & MFGCOM 604059105 1,195,000 16,895 SH 16,895
PETROLEUM GEO-SVCS SPONSORED ADR 716597109 793,000 52,000 SH 52,000
SCHLUMBERGER LTD COM 806857108 24,000,000 398,757 SH 398,757
FORT JAMES CORP COM 347471104 3,029,000 95,595 SH 95,595
PLUM CREEK TIMBER CDEPOSITARY UNT 729237107 410,000 14,400 SH 14,400
AKORN INC COM 009728106 42,000 10,000 SH 10,000
AMERICAN HOME PRODSCOM 026609107 13,025,000 199,622 SH 199,622
BERGEN BRUNSWIG CORCL A 083739102 4,802,000 240,099 SH 240,099
BRISTOL MYERS SQUIBCOM 110122108 8,733,000 136,187 SH 136,187
CARDINAL HEALTH INCCOM 14149Y108 5,172,000 78,359 SH 78,359
ELAN PLC ADR 284131208 20,726,000 297,144 SH 297,144
ELAN CORP PLC WT EXP 123101 284131703 4,378,000 102,408 SH 102,408
GLAXO WELLCOME PLC SPONSORED ADR 37733W105 1,460,000 21,808 SH 21,808
LILLY ELI & CO COM 532457108 4,336,000 51,091 SH 51,091
MERCK & CO INC COM 589331107 63,184,000 788,573 SH 788,573
MYLAN LABS INC COM 628530107 4,335,000 158,003 SH 158,003
PHARMACIA & UPJOHN COM 716941109 649,000 10,402 SH 10,402
PFIZER INC COM 717081103 30,177,000 217,491 SH 217,491
SCHERING PLOUGH CORCOM 806605101 16,003,000 289,641 SH 289,641
SMITHKLINE BEECHAM ADR REP ORD 832378301 2,077,000 29,044 SH 29,044
WARNER LAMBERT CO COM 934488107 2,531,000 38,200 SH 38,200
AXOGEN LTD COM G0690R108 3,209,000 103,108 SH 103,108
EASTMAN KODAK CO COM 277461109 416,000 6,515 SH 6,515
UNITED STATES FILTECOM NEW 911843209 243,000 7,928 SH 7,928
WASTE MGMT INC DEL COM 94106L109 1,439,000 32,424 SH 32,424
DELUXE CORP COM 248019101 1,487,000 51,057 SH 51,057
DONNELLEY R R & SONCOM 257867101 597,000 18,551 SH 18,551
HARLAND JOHN H CO COM 412693103 477,000 36,881 SH 36,881
CENTRAL NEWSPAPERS CL A 154647101 1,071,000 34,400 SH 34,400
GANNETT INC COM 364730101 2,570,000 40,800 SH 40,800
KNIGHT RIDDER INC COM 499040103 230,000 4,600 SH 4,600
MCGRAW HILL COS INCCOM 580645109 752,000 13,800 SH 13,800
NEW YORK TIMES CO CL A 650111107 793,000 27,841 SH 27,841
SCRIPPS E W CO OHIOCL A 811054204 2,461,000 55,625 SH 55,625
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