<PAGE> 1
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F
FORM 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: March 31, 1999
Check here if Amendment [ ]; Amendment Number:
------
This Amendment (Check only one): [ ] is a restatement.
[ ] adds new holdings entries.
Institutional Investment Manager Filing this Report:
Name: GTE Investment Management Corporation
Address: 695 Main Street, Suite 600
Stamford, CT 06912-0029
13F File Number: 28-
-----------------
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: T. Britton Harris, IV
Title: President and Treasurer
Phone: (203) 965-2757
Signature, Place, and Date of Signing:
/s/ T. BRITTON HARRIS, IV Stamford, CT 5/14/99
- --------------------------------- ----------------------- -------------
[Signature] [City, State] [Date]
Report Type (Check only one):
[X] 13F HOLDINGS REPORT. (Check here if all holdings of this reporting manager
are reported in this report.)
[ ] 13F NOTICE. (Check here if no holdings reported are in this report, and
all holdings are reported by other reporting manager(s).)
[ ] 13F COMBINATION REPORT. (Check here if a portion of the holdings for this
reporting manager are reported in this report and a portion are reported
by other reporting manager(s).)
List of Other Managers Reporting for this Manager: None
[If there are no entries in this list, omit this section.]
<TABLE>
<CAPTION>
13F File Number Name
<S> <C>
28-
------------------- ---------------------------------------------
</TABLE>
<PAGE> 2
FORM 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers: 1
--------------
Form 13F Information Table Entry Total: 2
---------------
Form 13F Information Table Value Total: $ 2,562,118
--------------
(thousands)
List of Other Included Managers:
Provide a numbered list of the name(s) and 13F file number(s) of all
institutional investment managers with respect to which this report is filed,
other than the manager filing this report.
[If there are no entries in this list, state "NONE" and omit the column headings
and list entries.]
<TABLE>
<CAPTION>
No. 13F File Number Name
<S> <C> <C>
1 28- GTE Leasing Corporation
---- ------------- --------------------------
</TABLE>
<PAGE> 3
FORM 13F INFORMATION TABLE
GTE LEASING CORPORATION
<TABLE>
<CAPTION>
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
- ------------------------ -------------- -------- -------- ------------------ ---------- -------- --------------------
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
- ------------------------ -------------- -------- -------- ------- --- ---- ---------- -------- --------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Bear Sterans 5.50 Preferred 07390220 $851 18,400 Defined 18,400
- ----------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------
TOTAL PORTFOLIO $851
- ----------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 4
FORM 13F INFORMATION TABLE
GTE INVESTMENT MANAGEMENT CORPORATION
<TABLE>
<CAPTION>
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
- ------------------------ -------------- -------- -------- ------------------ ---------- -------- --------------------
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
- ------------------------ -------------- -------- -------- ------- --- ---- ---------- -------- --------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
DAIMLERCHRYSLER AG ORD D1668R123 3,145 36,647 Defined 36,647
- ----------------------------------------------------------------------------------------------------------------------------
NEW HOLLAND N V ORD N62648105 1,147 111,900 Defined 111,900
- ----------------------------------------------------------------------------------------------------------------------------
ROYAL CARIBBEAN
CRUISES LTD PFD CONV A V7780T111 734 6,000 Defined 6,000
- ----------------------------------------------------------------------------------------------------------------------------
AES CORP COM 00130H105 361 9,700 Defined 9,700
- ----------------------------------------------------------------------------------------------------------------------------
AK STL HLDG CORP COM 001547108 562 24,900 Defined 24,900
- ----------------------------------------------------------------------------------------------------------------------------
AMR CORP COM 001765106 2,483 42,400 Defined 42,400
- ----------------------------------------------------------------------------------------------------------------------------
AT&T CORP COM 001957109 36,312 454,969 Defined 454,969
- ----------------------------------------------------------------------------------------------------------------------------
AT&T CORP COM LIB GRP A 001957208 6,614 125,757 Defined 125,757
- ----------------------------------------------------------------------------------------------------------------------------
ABBOTT LABS COM 002824100 11,268 240,700 Defined 240,700
- ----------------------------------------------------------------------------------------------------------------------------
ABERCROMBIE & FITCH CO CL A 002896207 2,200 23,850 Defined 23,850
- ----------------------------------------------------------------------------------------------------------------------------
PAGE TOTAL 64,826
- ----------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 5
FORM 13F INFORMATION TABLE
GTE INVESTMENT MANAGEMENT CORPORATION
<TABLE>
<CAPTION>
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
- ------------------------ -------------- -------- -------- ------------------ ---------- -------- --------------------
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
- ------------------------ -------------- -------- -------- ------- --- ---- ---------- -------- --------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
AEGON N V SPONSORED ADR 007924103 5,490 61,080 Defined 61,080
- -----------------------------------------------------------------------------------------------------------------------------------
AGRIBRANDS INTL INC COM 00849R105 156 4,760 Defined 4,760
- -----------------------------------------------------------------------------------------------------------------------------------
AIR PRODS & CHEMS INC COM 009158106 449 13,100 Defined 13,100
- -----------------------------------------------------------------------------------------------------------------------------------
AIRTOUCH COMMUNICATIONS INC COM 00949T100 12,194 126,200 Defined 126,200
- -----------------------------------------------------------------------------------------------------------------------------------
ALCAN ALUMINIUM LTD NEW COM 013716105 932 36,100 Defined 36,100
- -----------------------------------------------------------------------------------------------------------------------------------
ALCOA INC COM 013817101 2,619 63,600 Defined 63,600
- -----------------------------------------------------------------------------------------------------------------------------------
ALLERGAN INC COM 018490102 4,016 45,700 Defined 45,700
- -----------------------------------------------------------------------------------------------------------------------------------
ALLIEDSIGNAL INC COM 019512102 8,081 164,300 Defined 164,300
- -----------------------------------------------------------------------------------------------------------------------------------
ALLIED WASTE INDS INC COM PAR$.01NEW 019589308 433 30,000 Defined 30,000
- -----------------------------------------------------------------------------------------------------------------------------------
ALLSTATE CORP COM 020002101 6,078 164,000 Defined 164,000
- -----------------------------------------------------------------------------------------------------------------------------------
PAGE TOTAL 40,448
- -----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 6
FORM 13F INFORMATION TABLE
GTE INVESTMENT MANAGEMENT CORPORATION
<TABLE>
<CAPTION>
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
- ------------------------ -------------- --------- ---------- ------------------- ---------- -------- --------------------
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
- ------------------------ -------------- --------- ---------- -------- --- ---- ---------- -------- --------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
ALZA CORP DEL COM 022615108 2,219 58,000 Defined 58,000
- --------------------------------------------------------------------------------------------------------------------------------
AMAZON COM INC COM 023135106 1,515 8,800 Defined 8,800
- --------------------------------------------------------------------------------------------------------------------------------
AMBAC FINL GROUP INC COM 023139108 8,024 148,600 Defined 148,600
- --------------------------------------------------------------------------------------------------------------------------------
AMERICA ONLINE INC DEL COM 02364J104 72,868 495,700 Defined 495,700
- --------------------------------------------------------------------------------------------------------------------------------
AMERICAN EXPRESS CO COM 025816109 17,074 145,000 Defined 145,000
- -------------------------------------------------------------------------------------------------------------------------------
AMERICAN GENERAL CORP COM 026351106 5,513 78,200 Defined 78,200
- --------------------------------------------------------------------------------------------------------------------------------
AMERICAN HOME PRODS CORP COM 026609107 21,082 323,100 Defined 323,100
- --------------------------------------------------------------------------------------------------------------------------------
AMERICAN INTL GROUP INC COM 026874107 29,516 244,690 Defined 244,690
- --------------------------------------------------------------------------------------------------------------------------------
AMERICAN STD COS INC DEL COM 029712106 883 25,700 Defined 25,700
- --------------------------------------------------------------------------------------------------------------------------------
AMERICAN STORES CO NEW COM 030096101 2,805 85,000 Defined 85,000
- --------------------------------------------------------------------------------------------------------------------------------
PAGE TOTAL 161,499
- --------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 7
FORM 13F INFORMATION TABLE
GTE INVESTMENT MANAGEMENT CORPORATION
<TABLE>
<CAPTION>
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
- ------------------------ -------------- -------- ----------- ------------------ ---------- -------- --------------------
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
- ------------------------ -------------- -------- ----------- ------- --- ---- ---------- -------- --------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
AMERITECH CORP NEW COM 030954101 11,237 195,000 Defined 195,000
- --------------------------------------------------------------------------------------------------------------------------------
AMGEN INC COM 031162100 4,987 66,600 Defined 66,600
- --------------------------------------------------------------------------------------------------------------------------------
AMP INC COM 031897101 697 13,019 Defined 13,019
- --------------------------------------------------------------------------------------------------------------------------------
AMSOUTH BANCORPORATION COM 032165102 10,542 231,700 Defined 31,700
- --------------------------------------------------------------------------------------------------------------------------------
ANADARKO PETE CORP COM 032511107 4,934 130,700 Defined 130,700
- --------------------------------------------------------------------------------------------------------------------------------
ANHEUSER BUSCH COS INC COM 035229103 14,540 191,000 Defined 191,000
- --------------------------------------------------------------------------------------------------------------------------------
ANNTAYLOR STORES CORP COM 036115103 663 15,000 Defined 15,000
- --------------------------------------------------------------------------------------------------------------------------------
APPLE COMPUTER INC COM 037833100 435 12,100 Defined 12,100
- --------------------------------------------------------------------------------------------------------------------------------
APPLIED MATLS INC COM 038222105 4,811 78,000 Defined 78,000
- --------------------------------------------------------------------------------------------------------------------------------
ARCHER DANIELS MIDLAND CO COM 039483102 693 47,200 Defined 47,200
- --------------------------------------------------------------------------------------------------------------------------------
PAGE TOTAL 53,539
- --------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 8
FORM 13F INFORMATION TABLE
GTE INVESTMENT MANAGEMENT CORPORATION
<TABLE>
<CAPTION>
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
- ------------------------ -------------- --------- --------- ------------------ ---------- -------- --------------------
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
- ------------------------ -------------- --------- --------- ------- --- ---- ---------- -------- --------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
ASCEND COMMUNICATIONS INC COM 043491109 1,925 23,000 Defined 23,000
- ------------------------------------------------------------------------------------------------------------------------------
ASHLAND INC COM 044204105 2,383 58,200 Defined 58,200
- ------------------------------------------------------------------------------------------------------------------------------
ASSOCIATED BANC CORP COM 045487105 1,277 40,000 Defined 40,000
- ------------------------------------------------------------------------------------------------------------------------------
AT HOME CORP COM SER A 045919107 205 1,300 Defined 1,300
- ------------------------------------------------------------------------------------------------------------------------------
ASSOCIATES FIRST CAP CORP CL A 046008108 8,901 197,800 Defined 197,800
- ------------------------------------------------------------------------------------------------------------------------------
ATLANTIC RICHFIELD CO COM 048825103 5,155 70,500 Defined 70,500
- ------------------------------------------------------------------------------------------------------------------------------
AUTODESK INC COM 052769106 441 10,900 Defined 10,900
- ------------------------------------------------------------------------------------------------------------------------------
AVERY DENNISON CORP COM 053611109 1,328 23,100 Defined 23,100
- ------------------------------------------------------------------------------------------------------------------------------
AVON PRODS INC COM 054303102 2,118 45,000 Defined 45,000
- ------------------------------------------------------------------------------------------------------------------------------
BCE INC COM 05534B109 1,055 23,800 Defined 23,800
- ------------------------------------------------------------------------------------------------------------------------------
PAGE TOTAL 24,788
- ------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 9
FORM 13F INFORMATION TABLE
GTE INVESTMENT MANAGEMENT CORPORATION
<TABLE>
<CAPTION>
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
- ------------------------ -------------- --------- --------- ------------------- ---------- -------- --------------------
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
- ------------------------ -------------- --------- --------- --------- --- ---- ---------- -------- --------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
BJ SVCS CO COM 055482103 465 20,000 Defined 20,000
- --------------------------------------------------------------------------------------------------------------------------------
BP AMOCO P L C SPONSORED ADR 055622104 5,737 56,800 Defined 56,800
- --------------------------------------------------------------------------------------------------------------------------------
BALL CORP COM 058498106 939 20,000 Defined 20,000
- --------------------------------------------------------------------------------------------------------------------------------
BANK NEW YORK INC COM 064057102 4,672 130,000 Defined 130,000
- --------------------------------------------------------------------------------------------------------------------------------
BANK ONE CORP COM 06423A103 9,361 170,014 Defined 170,014
- --------------------------------------------------------------------------------------------------------------------------------
BANKAMERICA CORP NEW COM 06605F102 34,515 488,706 Defined 488,706
- --------------------------------------------------------------------------------------------------------------------------------
BANKBOSTON CORP COM 06605R106 4,353 100,500 Defined 100,500
- --------------------------------------------------------------------------------------------------------------------------------
BANKERS TR CORP COM 066365107 926 10,500 Defined 10,500
- --------------------------------------------------------------------------------------------------------------------------------
BARD C R INC COM 067383109 1,478 29,300 Defined 29,300
- --------------------------------------------------------------------------------------------------------------------------------
BARRICK GOLD CORP COM 067901108 362 21,200 Defined 21,200
- --------------------------------------------------------------------------------------------------------------------------------
PAGE TOTAL 62,808
- --------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 10
FORM 13F INFORMATION TABLE
GTE INVESTMENT MANAGEMENT CORPORATION
<TABLE>
<CAPTION>
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
- ---------------------- -------------- -------- -------- ------------------ ---------- -------- --------------------
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
- ---------------------- -------------- -------- -------- ------- --- ---- ---------- -------- --------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
BAUSCH & LOMB INC COM 071707103 2,366 36,400 Defined 36,400
- ----------------------------------------------------------------------------------------------------------------------------
BEAR STEARNS COS INC COM 073902108 1,172 26,235 Defined 26,235
- ----------------------------------------------------------------------------------------------------------------------------
BED BATH & BEYOND INC COM 075896100 606 16,600 Defined 16,600
- ----------------------------------------------------------------------------------------------------------------------------
BELL ATLANTIC CORP COM 077853109 14,963 289,500 Defined 289,500
- ----------------------------------------------------------------------------------------------------------------------------
BELLSOUTH CORP COM 079860102 17,319 432,300 Defined 432,300
- ----------------------------------------------------------------------------------------------------------------------------
BERKSHIRE HATHAWAY INC DEL CL A 084670108 145 Defined 145
- ----------------------------------------------------------------------------------------------------------------------------
BEST BUY INC COM 086516101 2,959 56,900 Defined 56,900
- ----------------------------------------------------------------------------------------------------------------------------
BESTFOODS COM 08658U101 6,916 147,150 Defined 147,150
- ----------------------------------------------------------------------------------------------------------------------------
BOISE CASCADE CORP COM 097383103 1,387 43,000 Defined 43,000
- ----------------------------------------------------------------------------------------------------------------------------
BRIGGS & STRATTON CORP COM 109043109 789 16,000 Defined 16,000
- ----------------------------------------------------------------------------------------------------------------------------
PAGE TOTAL 48,477
- ----------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 11
FORM 13F INFORMATION TABLE
GTE INVESTMENT MANAGEMENT CORPORATION
<TABLE>
<CAPTION>
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
- ------------------- -------------- -------- -------- ------------------ ---------- -------- --------------------
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
- ------------------- -------------- -------- -------- ------------------ ---------- -------- --------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
BRISTOL MYERS SQUIBB CO COM 110122108 39,315 613,100 Defined 613,100
- ----------------------------------------------------------------------------------------------------------------------------
BROADVISION INC COM 111412102 90 1,500 Defined 1,500
- ----------------------------------------------------------------------------------------------------------------------------
BROWNING FERRIS INDS COM 115885105 694 18,000 Defined 18,000
- ----------------------------------------------------------------------------------------------------------------------------
BURLINGTON NORTHN
SANTA FE CP COM 12189T104 7,417 225,600 Defined 225,600
- ----------------------------------------------------------------------------------------------------------------------------
BURLINGTON RES INC COM 122014103 1,318 33,000 Defined 33,000
- ----------------------------------------------------------------------------------------------------------------------------
CIGNA CORP COM 125509109 1,006 12,000 Defined 12,000
- ----------------------------------------------------------------------------------------------------------------------------
CMGI INC COM 125750109 256 1,400 Defined 1,400
- ----------------------------------------------------------------------------------------------------------------------------
CNA FINL CORP COM 126117100 854 22,000 Defined 22,000
- ----------------------------------------------------------------------------------------------------------------------------
CSX CORP COM 126408103 2,352 60,400 Defined 60,400
- ----------------------------------------------------------------------------------------------------------------------------
CTS CORP COM 126501105 4,602 93,100 Defined 93,100
- ----------------------------------------------------------------------------------------------------------------------------
PAGE TOTAL COM 57,904
- ----------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 12
FORM 13F INFORMATION TABLE
GTE INVESTMENT MANAGEMENT CORPORATION
<TABLE>
<CAPTION>
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
- ------------------- -------------- -------- -------- ------------------ ---------- -------- --------------------
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
- ------------------- -------------- -------- -------- ------------------ ---------- -------- --------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
CABLEVISION SYS CORP CL A 12686C109 11,897 160,500 Defined 160,500
- ----------------------------------------------------------------------------------------------------------------------------
CAPITAL ONE FINL CORP COM 14040H105 5,436 36,000 Defined 36,000
- ----------------------------------------------------------------------------------------------------------------------------
CARDINAL HEALTH INC COM 14149Y108 5,815 88,108 Defined 88,108
- ----------------------------------------------------------------------------------------------------------------------------
CATERPILLAR INC DEL COM 149123101 1,746 38,000 Defined 38,000
- ----------------------------------------------------------------------------------------------------------------------------
CENDANT CORP COM 151313103 4,080 256,000 Defined 256,000
- ----------------------------------------------------------------------------------------------------------------------------
CENTRAL & SOUTH WEST CORP COM 152357109 982 41,900 Defined 41,900
- ----------------------------------------------------------------------------------------------------------------------------
CENTURY TEL ENTERPRISES INC COM 156686107 14,689 209,100 Defined 209,100
- ----------------------------------------------------------------------------------------------------------------------------
CERIDIAN CORP COM 15677T106 3,210 87,800 Defined 87,800
- ----------------------------------------------------------------------------------------------------------------------------
CHARTER ONE FINL INC COM 160903100 1,281 44,400 Defined 44,400
- ----------------------------------------------------------------------------------------------------------------------------
CHASE MANHATTAN CORP NEW COM 16161A108 17,984 221,000 Defined 221,000
- ----------------------------------------------------------------------------------------------------------------------------
PAGE TOTAL 67,120
- ----------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 13
FORM 13F INFORMATION TABLE
GTE INVESTMENT MANAGEMENT CORPORATION
<TABLE>
<CAPTION>
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
- ------------------------ -------------- --------- ---------- ------------------ ---------- -------- --------------------
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
- ------------------------ -------------- --------- ---------- ------- --- ---- ---------- -------- --------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
CHEVRON CORPORATION COM 166751107 10,455 117,800 Defined 117,800
- ------------------------------------------------------------------------------------------------------------------------------------
CHRIS CRAFT INDS INC COM 170520100 17 372 Defined 372
- ------------------------------------------------------------------------------------------------------------------------------------
CINCINNATI FINL CORP COM 172062101 2,241 61,500 Defined 61,500
- ------------------------------------------------------------------------------------------------------------------------------------
CISCO SYS INC COM 17275R102 49,084 448,000 Defined 448,000
- ------------------------------------------------------------------------------------------------------------------------------------
CINTAS CORP COM 172908105 2,288 35,000 Defined 35,000
- ------------------------------------------------------------------------------------------------------------------------------------
CITIGROUP INC COM 172967101 33,574 525,620 Defined 525,620
- ------------------------------------------------------------------------------------------------------------------------------------
CITRIX SYS INC COM 177376100 755 19,800 Defined 19,800
- ------------------------------------------------------------------------------------------------------------------------------------
CLEAR CHANNEL COMMUNICATIONS COM 184502102 7,739 115,400 Defined 115,400
- ------------------------------------------------------------------------------------------------------------------------------------
CLOROX CO DEL COM 189054109 6,914 59,000 Defined 59,000
- ------------------------------------------------------------------------------------------------------------------------------------
COASTAL CORP COM 190441105 1,033 31,300 Defined 31,300
- ------------------------------------------------------------------------------------------------------------------------------------
PAGE TOTAL 114,100
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 14
FORM 13F INFORMATION TABLE
GTE INVESTMENT MANAGEMENT CORPORATION
<TABLE>
<CAPTION>
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
- ------------------------ -------------- --------- ---------- ------------------ ---------- -------- --------------------
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
- ------------------------ -------------- --------- ---------- ------- --- ---- ---------- -------- --------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
COCA COLA CO COM 191216100 31,768 517,600 Defined 517,600
- ------------------------------------------------------------------------------------------------------------------------------------
COLGATE PALMOLIVE CO COM 194162103 2,760 30,000 Defined 30,000
- ------------------------------------------------------------------------------------------------------------------------------------
COLTEC INDS INC COM 196879100 364 20,000 Defined 20,000
- ------------------------------------------------------------------------------------------------------------------------------------
COLUMBIA ENERGY GROUP COM 197648108 2,121 40,600 Defined 40,600
- ------------------------------------------------------------------------------------------------------------------------------------
COLUMBIA/HCA HEALTHCARE CORP COM 197677107 1,865 98,500 Defined 98,500
- ------------------------------------------------------------------------------------------------------------------------------------
COMCAST CORP CL A SPL 200300200 3,380 53,700 Defined 53,700
- ------------------------------------------------------------------------------------------------------------------------------------
COMERICA INC COM 200340107 1,995 31,950 Defined 31,950
- ------------------------------------------------------------------------------------------------------------------------------------
COMMONWEALTH TEL ENTERPRISES COM 203349105 983 26,700 Defined 26,700
- -----------------------------------------------------------------------------------------------------------------------------------
COMPASS BANCSHARES INC COM 20449H109 414 12,000 Defined 12,000
- -----------------------------------------------------------------------------------------------------------------------------------
COMPAQ COMPUTER CORP COM 204493100 11,808 372,632 Defined 372,632
- ------------------------------------------------------------------------------------------------------------------------------------
PAGE TOTAL 57,458
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 15
FORM 13F INFORMATION TABLE
GTE INVESTMENT MANAGEMENT CORPORATION
<TABLE>
<CAPTION>
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
- ------------------------ -------------- -------- -------- ------------------ ---------- -------- --------------------
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
- ------------------------ -------------- -------- -------- ------- --- ---- ---------- -------- --------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
COMPUTER ASSOC INTL INC COM 204912109 1,245 35,000 Defined 35,000
- ----------------------------------------------------------------------------------------------------------------------------
COMPUTER SCIENCES CORP COM 205363104 899 16,300 Defined 16,300
- ----------------------------------------------------------------------------------------------------------------------------
COMPUWARE CORP COM 205638109 707 29,600 Defined 29,600
- ----------------------------------------------------------------------------------------------------------------------------
COMVERSE TECHNOLOGY INC COM PAR $0.10 205862402 2,550 30,000 Defined 30,000
- ----------------------------------------------------------------------------------------------------------------------------
CONSOLIDATED EDISON INC COM 209115104 1,359 30,000 Defined 30,000
- ----------------------------------------------------------------------------------------------------------------------------
COOPER INDS INC COM 216669101 1,279 30,000 Defined 30,000
- ----------------------------------------------------------------------------------------------------------------------------
CORDANT TECHNOLOGIES INC COM 218412104 139 3,500 Defined 3,500
- ----------------------------------------------------------------------------------------------------------------------------
CORNING INC COM 219350105 3,300 55,000 Defined 55,000
- ----------------------------------------------------------------------------------------------------------------------------
COSTCO COMPANIES INC COM 22160Q102 5,311 58,000 Defined 58,000
- ----------------------------------------------------------------------------------------------------------------------------
CROMPTON & KNOWLES CORP COM 227111101 298 18,900 Defined 18,900
- ----------------------------------------------------------------------------------------------------------------------------
PAGE TOTAL 17,087
- ----------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 16
FORM 13F INFORMATION TABLE
GTE INVESTMENT MANAGEMENT CORPORATION
<TABLE>
<CAPTION>
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
- ------------------------ -------------- -------- -------- ------------------ ---------- -------- --------------------
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
- ------------------------ -------------- -------- -------- ------- --- ---- ---------- -------- --------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
CUMMINS ENGINE INC COM 231021106 782 22,000 Defined 22,000
- ----------------------------------------------------------------------------------------------------------------------------
CYTEC INDS INC COM 232820100 156 7,000 Defined 7,000
- ----------------------------------------------------------------------------------------------------------------------------
DTE ENERGY CO COM 233331107 2,260 58,800 Defined 58,800
- ----------------------------------------------------------------------------------------------------------------------------
DANA CORP COM 235811106 395 10,400 Defined 10,400
- ----------------------------------------------------------------------------------------------------------------------------
DAYTON HUDSON CORP COM 239753106 13,158 197,500 Defined 197,500
- ----------------------------------------------------------------------------------------------------------------------------
DEERE & CO COM 244199105 772 20,000 Defined 20,000
- ----------------------------------------------------------------------------------------------------------------------------
DELL COMPUTER CORP COM 247025109 39,408 964,100 Defined 964,100
- ----------------------------------------------------------------------------------------------------------------------------
DIAL CORP NEW COM 25247D101 3,438 100,000 Defined 100,000
- ----------------------------------------------------------------------------------------------------------------------------
DIAMOND OFFSHORE DRILLING INC COM 25271C102 1,967 62,200 Defined 62,200
- ----------------------------------------------------------------------------------------------------------------------------
DILLARDS INC CL A 254067101 178 7,000 Defined 7,000
- ----------------------------------------------------------------------------------------------------------------------------
PAGE TOTAL 62,514
- ----------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 17
FORM 13F INFORMATION TABLE
GTE INVESTMENT MANAGEMENT CORPORATION
<TABLE>
<CAPTION>
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
- ------------------------ -------------- -------- -------- ------------------ ---------- -------- --------------------
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
- ------------------------ -------------- -------- -------- ------- --- ---- ---------- -------- --------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
DIME BANCORP INC NEW COM 25429Q102 241 10,400 Defined 10,400
- ----------------------------------------------------------------------------------------------------------------------------
DISNEY WALT CO COM 254687106 17,427 559,900 Defined 559,900
- ----------------------------------------------------------------------------------------------------------------------------
DOLLAR TREE STORES INC COM 256747106 278 9,000 Defined 9,000
- ----------------------------------------------------------------------------------------------------------------------------
DOMINION RES INC VA COM 257470104 70 1,900 Defined 1,900
- ----------------------------------------------------------------------------------------------------------------------------
DONALDSON INC COM 257651109 328 18,200 Defined 18,200
- ----------------------------------------------------------------------------------------------------------------------------
DONALDSON LUFKIN & JENRETTE NW COM 257661108 858 12,300 Defined 12,300
- ----------------------------------------------------------------------------------------------------------------------------
DOVER CORP COM 260003108 1,992 60,600 Defined 60,600
- ----------------------------------------------------------------------------------------------------------------------------
DOW CHEM CO COM 260543103 8,061 86,500 Defined 86,500
- ----------------------------------------------------------------------------------------------------------------------------
DU PONT E I DE NEMOURS & CO COM 263534109 7,798 134,300 Defined 134,300
- ----------------------------------------------------------------------------------------------------------------------------
DUKE ENERGY CORP COM 264399106 3,969 72,410 Defined 72,410
- ----------------------------------------------------------------------------------------------------------------------------
PAGE TOTAL 41,022
- ----------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 18
FORM 13F INFORMATION TABLE
GTE INVESTMENT MANAGEMENT CORPORATION
<TABLE>
<CAPTION>
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
- ------------------------ -------------- -------- -------- ------------------ ---------- -------- --------------------
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
- ------------------------ -------------- -------- -------- ------- --- ---- ---------- -------- --------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
DUN & BRADSTREET CORP DEL COM 26483B106 4,264 119,700 Defined 119,700
- ----------------------------------------------------------------------------------------------------------------------------
E M C CORP MASS COM 268648102 29,382 230,000 Defined 230,000
- ----------------------------------------------------------------------------------------------------------------------------
EARTHLINK NETWORK INC COM 270322100 60 1,000 Defined 1,000
- ----------------------------------------------------------------------------------------------------------------------------
EASTMAN KODAK CO COM 277461109 4,925 77,100 Defined 77,100
- ----------------------------------------------------------------------------------------------------------------------------
EATON CORP COM 278058102 644 9,000 Defined 9,000
- ----------------------------------------------------------------------------------------------------------------------------
ECOLAB INC COM 278865100 1,704 48,000 Defined 48,000
- ----------------------------------------------------------------------------------------------------------------------------
EDISON INTL COM 281020107 607 27,300 Defined 27,300
- ----------------------------------------------------------------------------------------------------------------------------
EDWARDS AG INC COM 281760108 229 7,000 Defined 7,000
- ----------------------------------------------------------------------------------------------------------------------------
EL PASO ENERGY CORP DEL COM 283905107 3,262 99,800 Defined 99,800
- ----------------------------------------------------------------------------------------------------------------------------
ELECTRONIC ARTS INC COM 285512109 1,425 30,000 Defined 30,000
- ----------------------------------------------------------------------------------------------------------------------------
PAGE TOTAL 46,502
- ----------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 19
FORM 13F INFORMATION TABLE
GTE INVESTMENT MANAGEMENT CORPORATION
<TABLE>
<CAPTION>
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
- ------------------------ -------------- -------- -------- ------------------ ---------- -------- --------------------
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
- ------------------------ -------------- -------- -------- ------- --- ---- ---------- -------- --------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
ELECTRONIC DATA SYS NEW COM 285661104 1,558 32,000 Defined 32,000
- ----------------------------------------------------------------------------------------------------------------------------
EMERSON ELEC CO COM 291011104 3,044 57,500 Defined 57,500
- ----------------------------------------------------------------------------------------------------------------------------
ENGELHARD CORP COM 292845104 246 14,500 Defined 14,500
- ----------------------------------------------------------------------------------------------------------------------------
ENRON CORP COM 293561106 4,497 70,000 Defined 70,000
- ----------------------------------------------------------------------------------------------------------------------------
ENTERGY CORP NEW COM 29364G103 2,090 76,000 Defined 76,000
- ----------------------------------------------------------------------------------------------------------------------------
EQUITABLE COS INC COM 29444G107 4,578 65,400 Defined 65,400
- ----------------------------------------------------------------------------------------------------------------------------
EXCITE INC COM 300904109 238 1,700 Defined 1,700
- ----------------------------------------------------------------------------------------------------------------------------
EXXON CORP COM 302290101 34,928 495,000 Defined 495,000
- ----------------------------------------------------------------------------------------------------------------------------
FDX CORP COM 31304N107 5,366 57,700 Defined 57,700
- ----------------------------------------------------------------------------------------------------------------------------
FEDERAL HOME LN MTG CORP COM 313400301 4,986 87,000 Defined 87,000
- ----------------------------------------------------------------------------------------------------------------------------
PAGE TOTAL 61,531
- ----------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 20
FORM 13F INFORMATION TABLE
GTE INVESTMENT MANAGEMENT CORPORATION
<TABLE>
<CAPTION>
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
- ------------------------ -------------- --------- ---------- ------------------ ---------- -------- ----------------------
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
- ------------------------ -------------- --------- ---------- ------- --- ---- ---------- -------- ----------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
FEDERAL NATL MTG ASSN COM 313586109 12,465 180,000 Defined 1 180,000
- -----------------------------------------------------------------------------------------------------------------------------------
FEDERATED DEPT STORES INC DEL COM 31410H101 1,786 44,500 Defined 1 44,500
- -----------------------------------------------------------------------------------------------------------------------------------
FIRST DATA CORP COM 319963104 2,202 51,500 Defined 1 51,500
- -----------------------------------------------------------------------------------------------------------------------------------
FIRST UN CORP COM 337358105 12,339 230,912 Defined 1 230,912
- -----------------------------------------------------------------------------------------------------------------------------------
FIRSTAR CORP NEW WIS COM 33763V109 12,682 141,700 Defined 1 141,700
- -----------------------------------------------------------------------------------------------------------------------------------
FLEET FINL GROUP INC NEW COM 338915101 2,784 74,000 Defined 1 74,000
- -----------------------------------------------------------------------------------------------------------------------------------
FORD MTR CO DEL COM 345370100 19,444 343,000 Defined 1 343,000
- -----------------------------------------------------------------------------------------------------------------------------------
FOREST LABS INC CL A 345838106 10,615 188,300 Defined 1 188,300
- -----------------------------------------------------------------------------------------------------------------------------------
FORT JAMES CORP COM 347471104 317 10,000 Defined 1 10,000
- -----------------------------------------------------------------------------------------------------------------------------------
FRONTIER CORPORATION COM 35906P105 1,551 29,900 Defined 1 29,900
- -----------------------------------------------------------------------------------------------------------------------------------
PAGE TOTAL 76,185
- -----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 21
FORM 13F INFORMATION TABLE
GTE INVESTMENT MANAGEMENT CORPORATION
<TABLE>
<CAPTION>
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
- ------------------------ -------------- --------- ---------- ------------------ ---------- -------- ----------------------
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
- ------------------------ -------------- --------- ---------- ------- --- ---- ---------- -------- ----------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
GTE CORP COM 362320103 15,591 257,700 Defined 257,700
- -----------------------------------------------------------------------------------------------------------------------------------
GALILEO INTERNATIONAL INC COM 363547100 822 17,000 Defined 17,000
- -----------------------------------------------------------------------------------------------------------------------------------
GANNETT INC COM 364730101 2,778 44,100 Defined 44,100
- -----------------------------------------------------------------------------------------------------------------------------------
GAP INC DEL COM 364760108 10,324 153,375 Defined 153,375
- -----------------------------------------------------------------------------------------------------------------------------------
GENENTECH INC COM SPL 368710307 2,136 24,100 Defined 24,100
- -----------------------------------------------------------------------------------------------------------------------------------
GENERAL ELEC CO COM 369604103 88,500 800,000 Defined 800,000
- -----------------------------------------------------------------------------------------------------------------------------------
GENERAL MTRS CORP COM 370442105 18,018 207,100 Defined 207,100
- -----------------------------------------------------------------------------------------------------------------------------------
GENUINE PARTS CO COM 372460105 524 18,200 Defined 18,200
- -----------------------------------------------------------------------------------------------------------------------------------
GENZYME CORP COM GENL DIV 372917104 2,270 45,000 Defined 45,000
- -----------------------------------------------------------------------------------------------------------------------------------
GEORGIA PAC CORP COM GA PAC GRP 373298108 3,378 45,500 Defined 45,500
- -----------------------------------------------------------------------------------------------------------------------------------
PAGE TOTAL 144,341
- -----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 22
FORM 13F INFORMATION TABLE
GTE INVESTMENT MANAGEMENT CORPORATION
<TABLE>
<CAPTION>
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
- ------------------------ -------------- --------- ---------- ------------------ ---------- -------- ----------------------
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
- ------------------------ -------------- --------- ---------- ------- --- ---- ---------- -------- ----------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
GILLETTE CO COM 375766102 15,263 256,800 Defined 256,800
- -----------------------------------------------------------------------------------------------------------------------------------
GLOBAL MARINE INC COM 379352404 587 50,000 Defined 50,000
- -----------------------------------------------------------------------------------------------------------------------------------
GOODYEAR TIRE & RUBR CO COM 382550101 1,245 25,000 Defined 25,000
- -----------------------------------------------------------------------------------------------------------------------------------
GRAINGER W W INC COM 384802104 827 19,200 Defined 19,200
- -----------------------------------------------------------------------------------------------------------------------------------
GREAT LAKES CHEM CORP COM 390568103 772 21,000 Defined 21,000
- -----------------------------------------------------------------------------------------------------------------------------------
GREIF BROS CORP CL A 397624107 79 3,600 Defined 3,600
- -----------------------------------------------------------------------------------------------------------------------------------
GUIDANT CORP COM 401698105 6,474 107,000 Defined 107,000
- -----------------------------------------------------------------------------------------------------------------------------------
GULFSTREAM AEROSPACE CORP COM 402734107 1,141 26,300 Defined 26,300
- -----------------------------------------------------------------------------------------------------------------------------------
HALLIBURTON CO COM 406216101 2,117 55,000 Defined 55,000
- -----------------------------------------------------------------------------------------------------------------------------------
HANNAFORD BROS CO COM 410550107 1,577 34,700 Defined 34,700
- -----------------------------------------------------------------------------------------------------------------------------------
PAGE TOTAL 30,082
- -----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 23
FORM 13F INFORMATION TABLE
GTE INVESTMENT MANAGEMENT CORPORATION
<TABLE>
<CAPTION>
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
- ------------------------ -------------- --------- ---------- ------------------ ---------- -------- ----------------------
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
- ------------------------ -------------- --------- ---------- ------- --- ---- ---------- -------- ----------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
HARLEY DAVIDSON INC COM 412822108 1,607 28,000 Defined 28,000
- -----------------------------------------------------------------------------------------------------------------------------------
HARRIS CORP DEL COM 413875105 323 11,300 Defined 11,300
- -----------------------------------------------------------------------------------------------------------------------------------
HARTFORD FINL SVCS GROUP INC COM 416515104 1,409 24,800 Defined 24,800
- -----------------------------------------------------------------------------------------------------------------------------------
HARTFORD LIFE INC CL A 416592103 1,897 34,500 Defined 34,500
- -----------------------------------------------------------------------------------------------------------------------------------
HASBRO INC COM 418056107 877 30,300 Defined 30,300
- -----------------------------------------------------------------------------------------------------------------------------------
HEALTH MGMT ASSOC INC NEW CL A 421933102 168 13,755 Defined 13,755
- -----------------------------------------------------------------------------------------------------------------------------------
HEINZ H J CO COM 423074103 1,871 39,500 Defined 39,500
- -----------------------------------------------------------------------------------------------------------------------------------
HELMERICH & PAYNE INC COM 423452101 651 28,700 Defined 28,700
- -----------------------------------------------------------------------------------------------------------------------------------
HERTZ CORP CL A 428040109 802 15,000 Defined 15,000
- -----------------------------------------------------------------------------------------------------------------------------------
HEWLETT PACKARD CO COM 428236103 3,608 53,200 Defined 53,200
- -----------------------------------------------------------------------------------------------------------------------------------
PAGE TOTAL 13,213
- -----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 24
FORM 13F INFORMATION TABLE
GTE INVESTMENT MANAGEMENT CORPORATION
<TABLE>
<CAPTION>
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
- ------------------------ -------------- --------- ---------- ------------------ ---------- -------- ----------------------
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
- ------------------------ -------------- --------- ---------- ------- --- ---- ---------- -------- ----------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
HOME DEPOT INC COM 437076102 27,328 439,000 Defined 439,000
- -----------------------------------------------------------------------------------------------------------------------------------
HONEYWELL INC COM 438506107 698 9,200 Defined 9,200
- -----------------------------------------------------------------------------------------------------------------------------------
HOUSEHOLD INTL INC COM 441815107 4,106 90,000 Defined 90,000
- -----------------------------------------------------------------------------------------------------------------------------------
HUMANA INC COM 444859102 55 3,200 Defined 3,200
- -----------------------------------------------------------------------------------------------------------------------------------
HUSSMANN INTL INC COM 448110106 160 10,900 Defined 10,900
- -----------------------------------------------------------------------------------------------------------------------------------
IBP INC COM 449223106 203 10,900 Defined 10,900
- -----------------------------------------------------------------------------------------------------------------------------------
ITT INDS INC IND COM 450911102 1,811 51,200 Defined 51,200
- -----------------------------------------------------------------------------------------------------------------------------------
IKON OFFICE SOLUTIONS INC COM 451713101 346 27,000 Defined 27,000
- -----------------------------------------------------------------------------------------------------------------------------------
ILLINOIS TOOL WKS INC COM 452308109 1,856 30,000 Defined 30,000
- -----------------------------------------------------------------------------------------------------------------------------------
IMMUNEX CORP NEW COM 452528102 2,664 32,000 Defined 32,000
- -----------------------------------------------------------------------------------------------------------------------------------
PAGE TOTAL 39,227
- -----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 25
FORM 13F INFORMATION TABLE
GTE INVESTMENT MANAGEMENT CORPORATION
<TABLE>
<CAPTION>
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
- ------------------------ -------------- --------- ---------- ------------------ ---------- -------- ----------------------
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
- ------------------------ -------------- --------- ---------- ------- --- ---- ---------- -------- ----------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
INCO LTD COM 453258402 599 45,000 Defined 45,000
- -----------------------------------------------------------------------------------------------------------------------------------
INFOSEEK CORP COM 45678M107 111 1,500 Defined 1,500
- -----------------------------------------------------------------------------------------------------------------------------------
INGERSOLL RAND CO COM 456866102 1,836 37,000 Defined 37,000
- -----------------------------------------------------------------------------------------------------------------------------------
INTEL CORP COM 458140100 56,287 473,500 Defined 473,500
- -----------------------------------------------------------------------------------------------------------------------------------
INTERNATIONAL BUSINESS MACHS COM 459200101 47,326 267,000 Defined 267,000
- ---------------------------------------------------------------------------------------------------------------------------------
INTL PAPER CO COM 460146103 1,371 32,500 Defined 32,500
- -----------------------------------------------------------------------------------------------------------------------------------
INTUIT COM 461202103 1,771 17,400 Defined 17,400
- -----------------------------------------------------------------------------------------------------------------------------------
ISLE OF CAPRIS CASINOS INC COM 464592104 29 6,351 Defined 6,351
- -----------------------------------------------------------------------------------------------------------------------------------
ITRON INC SB NT CV 144A 04 465741AA4 251 367,000 Defined 367,000
- -----------------------------------------------------------------------------------------------------------------------------------
JOHNSON & JOHNSON COM 478160104 18,326 196,000 Defined 196,000
- -----------------------------------------------------------------------------------------------------------------------------------
PAGE TOTAL 127,907
- -----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 26
FORM 13F INFORMATION TABLE
GTE INVESTMENT MANAGEMENT CORPORATION
<TABLE>
<CAPTION>
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
- ------------------------ -------------- --------- ---------- ------------------ ---------- -------- ----------------------
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
- ------------------------ -------------- --------- ---------- ------- --- ---- ---------- -------- ----------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
JOHNSON CTLS INC COM 478366107 3,524 56,500 Defined 56,500
- -----------------------------------------------------------------------------------------------------------------------------------
K MART CORP COM 482584109 84 5,000 Defined 5,000
- -----------------------------------------------------------------------------------------------------------------------------------
KANSAS CITY SOUTHN INDS INC COM 485170104 1,796 31,500 Defined 31,500
- -----------------------------------------------------------------------------------------------------------------------------------
KELLY SVCS INC CL A 488152208 205 7,400 Defined 7,400
- -----------------------------------------------------------------------------------------------------------------------------------
KEYCORP NEW COM 493267108 606 20,000 Defined 20,000
- -----------------------------------------------------------------------------------------------------------------------------------
KIMBERLY CLARK CORP COM 494368103 1,199 25,000 Defined 25,000
- -----------------------------------------------------------------------------------------------------------------------------------
KNOLL INC COM 498904101 1,185 48,125 Defined 48,125
- -----------------------------------------------------------------------------------------------------------------------------------
KOHLS CORP COM 500255104 3,898 55,000 Defined 55,000
- -----------------------------------------------------------------------------------------------------------------------------------
KROGER CO COM 501044101 15,717 262,500 Defined 262,500
- -----------------------------------------------------------------------------------------------------------------------------------
LEAR CORP COM 521865105 427 10,000 Defined 10,000
- -----------------------------------------------------------------------------------------------------------------------------------
PAGE TOTAL 28,641
- -----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 27
FORM 13F INFORMATION TABLE
GTE INVESTMENT MANAGEMENT CORPORATION
<TABLE>
<CAPTION>
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
- ------------------------ -------------- -------- -------- ------------------ ---------- -------- --------------------
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
- ------------------------ -------------- -------- -------- ------- --- ---- ---------- -------- --------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
LEHMAN BROS HLDGS INC COM 524908100 717 12,000 Defined 12,000
- ------------------------------------------------------------------------------------------------------------------------------
LEXMARK INTL GROUP INC CL A 529771107 3,692 33,000 Defined 33,000
- ------------------------------------------------------------------------------------------------------------------------------
LILLY ELI & CO COM 532457108 16,143 190,200 Defined 190,200
- ------------------------------------------------------------------------------------------------------------------------------
LIMITED INC COM 532716107 1,070 27,000 Defined 27,000
- ------------------------------------------------------------------------------------------------------------------------------
LOCKHEED MARTIN CORP COM 539830109 3,511 93,000 Defined 93,000
- ------------------------------------------------------------------------------------------------------------------------------
LOWES COS INC COM 548661107 8,065 133,300 Defined 133,300
- ------------------------------------------------------------------------------------------------------------------------------
LUCENT TECHNOLOGIES INC COM 549463107 41,580 385,000 Defined 385,000
- ------------------------------------------------------------------------------------------------------------------------------
LYCOS INC COM 550818108 172 2,000 Defined 2,000
- ------------------------------------------------------------------------------------------------------------------------------
MBIA INC COM 55262C100 2,784 48,000 Defined 48,000
- ------------------------------------------------------------------------------------------------------------------------------
MBNA CORP COM 55262L100 3,798 159,100 Defined 159,100
- ------------------------------------------------------------------------------------------------------------------------------
PAGE TOTAL 81,532
- ------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 28
FORM 13F INFORMATION TABLE
GTE INVESTMENT MANAGEMENT CORPORATION
<TABLE>
<CAPTION>
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
- ------------------------ -------------- -------- -------- ------------------ ---------- -------- --------------------
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
- ------------------------ -------------- -------- -------- ------- --- ---- ---------- -------- --------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
MCI WORLDCOM INC COM 55268B106 46,663 526,900 Defined 526,900
- -------------------------------------------------------------------------------------------------------------------------------
MACROMEDIA INC COM 556100105 136 3,000 Defined 3,000
- -------------------------------------------------------------------------------------------------------------------------------
MARSH & MCLENNAN COS INC COM 571748102 8,769 118,100 Defined 118,100
- -------------------------------------------------------------------------------------------------------------------------------
MATTEL INC COM 577081102 748 30,000 Defined 30,000
- -------------------------------------------------------------------------------------------------------------------------------
MAY DEPT STORES CO COM 577778103 1,896 48,450 Defined 48,450
- -------------------------------------------------------------------------------------------------------------------------------
MAYTAG CORP COM 578592107 2,059 34,100 Defined 34,100
- -------------------------------------------------------------------------------------------------------------------------------
MCDERMOTT INTL INC COM 580037109 493 19,500 Defined 19,500
- -------------------------------------------------------------------------------------------------------------------------------
MCDONALDS CORP COM 580135101 5,773 127,400 Defined 127,400
- -------------------------------------------------------------------------------------------------------------------------------
MCKESSON HBOC INC COM 58155Q103 1,881 28,500 Defined 28,500
- -------------------------------------------------------------------------------------------------------------------------------
MEAD CORP COM 582834107 1,122 36,500 Defined 36,500
- -------------------------------------------------------------------------------------------------------------------------------
PAGE TOTAL 69,540
- -------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 29
FORM 13F INFORMATION TABLE
GTE INVESTMENT MANAGEMENT CORPORATION
<TABLE>
<CAPTION>
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
- ------------------------ -------------- -------- -------- ------------------ ---------- -------- --------------------
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
- ------------------------ -------------- -------- -------- ------- --- ---- ---------- -------- --------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
MEDIAONE GROUP INC COM 58440J104 5,164 81,400 Defined 81,400
- ----------------------------------------------------------------------------------------------------------------------------------
MEDIA GEN INC CL A 584404107 1,804 38,800 Defined 38,800
- ----------------------------------------------------------------------------------------------------------------------------------
MEDIMMUNE INC COM 584699102 5,481 92,600 Defined 92,600
- ----------------------------------------------------------------------------------------------------------------------------------
MEDTRONIC INC COM 585055106 8,939 124,364 Defined 124,364
- ----------------------------------------------------------------------------------------------------------------------------------
MERCK & CO INC COM 589331107 39,678 495,200 Defined 495,200
- ----------------------------------------------------------------------------------------------------------------------------------
MERRILL LYNCH & CO INC COM 590188108 7,514 84,900 Defined 84,900
- ----------------------------------------------------------------------------------------------------------------------------------
MEYER FRED INC DEL NEW COM 592907109 2,337 39,700 Defined 39,700
- ----------------------------------------------------------------------------------------------------------------------------------
MICROSOFT CORP COM 594918104 116,028 1,294,600 Defined 1,294,600
- ----------------------------------------------------------------------------------------------------------------------------------
MICRON TECHNOLOGY INC COM 595112103 424 8,800 Defined 8,800
- ----------------------------------------------------------------------------------------------------------------------------------
MILLENNIUM CHEMICALS INC COM 599903101 177 8,900 Defined 8,900
- ----------------------------------------------------------------------------------------------------------------------------------
PAGE TOTAL 187,546
- ----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 30
FORM 13F INFORMATION TABLE
GTE INVESTMENT MANAGEMENT CORPORATION
<TABLE>
<CAPTION>
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
- ------------------------ -------------- -------- -------- ------------------ ---------- -------- --------------------
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
- ------------------------ -------------- -------- -------- ------- --- ---- ---------- -------- --------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
MINDSPRING ENTERPRISES INC COM 602683104 103 1,200 defined 1,200
- -----------------------------------------------------------------------------------------------------------------------------------
MOBIL CORP COM 607059102 33,959 385,900 defined 385,900
- -----------------------------------------------------------------------------------------------------------------------------------
MODINE MFG CO COM 607828100 547 19,500 defined 19,500
- -----------------------------------------------------------------------------------------------------------------------------------
MONSANTO CO COM 611662107 7,327 159,500 defined 159,500
- -----------------------------------------------------------------------------------------------------------------------------------
MORGAN STANLEY DEAN COM NEW 617446448 20,287 203,000 defined 203,000
WITTER&CO
- -----------------------------------------------------------------------------------------------------------------------------------
MOTOROLA INC COM 620076109 2,000 27,300 defined 27,300
- -----------------------------------------------------------------------------------------------------------------------------------
NABISCO HLDGS CORP CL A 629526104 665 16,000 defined 16,000
- -----------------------------------------------------------------------------------------------------------------------------------
NATIONAL COMM BANCORP COM 635449101 548 24,000 defined 24,000
- -----------------------------------------------------------------------------------------------------------------------------------
NATIONAL SEMICONDUCTOR CORP COM 637640103 130 14,000 defined 14,000
- -----------------------------------------------------------------------------------------------------------------------------------
NAVISTAR INTL CORP NEW COM 63934E108 2,492 62,000 defined 62,000
- -----------------------------------------------------------------------------------------------------------------------------------
PAGE TOTAL 68,058
- -----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 31
FORM 13F INFORMATION TABLE
GTE INVESTMENT MANAGEMENT CORPORATION
<TABLE>
<CAPTION>
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
- ------------------------ -------------- -------- -------- ------------------ ---------- -------- --------------------
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
- ------------------------ -------------- -------- -------- ------- --- ---- ---------- -------- --------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
NEIMAN MARCUS GROUP INC COM 640204103 536 23,700 Defined 23,700
- ----------------------------------------------------------------------------------------------------------------------------------
NETWORKS ASSOCS INC COM 640938106 61 2,000 Defined 2,000
- ----------------------------------------------------------------------------------------------------------------------------------
NEW ENGLAND ELEC SYS COM 644001109 3,312 68,300 Defined 68,300
- ----------------------------------------------------------------------------------------------------------------------------------
NEXTEL COMMUNICATIONS INC CL A 65332V103 264 7,200 Defined 7,200
- ----------------------------------------------------------------------------------------------------------------------------------
NIELSEN MEDIA RESH INC COM NEW 653929307 370 15,000 Defined 15,000
- ----------------------------------------------------------------------------------------------------------------------------------
NOKIA CORP SPONSORED ADR 654902204 13,395 86,000 Defined 86,000
- ----------------------------------------------------------------------------------------------------------------------------------
NORFOLK SOUTHERN CORP COM 655844108 1,319 50,000 Defined 50,000
- ----------------------------------------------------------------------------------------------------------------------------------
NORTHN STS PWR CO MINN COM 665772109 6,131 264,400 Defined 264,400
- ----------------------------------------------------------------------------------------------------------------------------------
NORTHERN TELECOM LTD COM 665815106 1,243 20,000 Defined 20,000
- ----------------------------------------------------------------------------------------------------------------------------------
NORTHERN TR CORP COM 665859104 5,462 61,500 Defined 61,500
- ----------------------------------------------------------------------------------------------------------------------------------
PAGE TOTAL 32,093
- ----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 32
FORM 13F INFORMATION TABLE
GTE INVESTMENT MANAGEMENT CORPORATION
<TABLE>
<CAPTION>
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
- ------------------------ -------------- -------- -------- ------------------ ---------- -------- --------------------
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
- ------------------------ -------------- -------- -------- ------- --- ---- ---------- -------- --------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
NOVELL INC COM 670006105 957 38,000 Defined 38,000
- -----------------------------------------------------------------------------------------------------------------------------------
NUCOR CORP COM 670346105 441 10,000 Defined 10,000
- -----------------------------------------------------------------------------------------------------------------------------------
OCCIDENTAL PETE CORP DEL COM 674599105 1,260 70,000 Defined 70,000
- -----------------------------------------------------------------------------------------------------------------------------------
ONSALE INC COM 682838107 101 3,000 Defined 3,000
- -----------------------------------------------------------------------------------------------------------------------------------
ORACLE CORP COM 68389X105 7,475 283,400 Defined 283,400
- -----------------------------------------------------------------------------------------------------------------------------------
OWENS CORNING COM 69073F103 216 6,800 Defined 6,800
- -----------------------------------------------------------------------------------------------------------------------------------
PECO ENERGY CO COM 693304107 6,595 142,600 Defined 142,600
- -----------------------------------------------------------------------------------------------------------------------------------
PG&E CORP COM 69331C108 4,628 149,000 Defined 149,000
- -----------------------------------------------------------------------------------------------------------------------------------
PNC BK CORP COM 693475105 5,989 107,800 Defined 107,800
- -----------------------------------------------------------------------------------------------------------------------------------
P P & L RES INC COM 693499105 2,651 107,100 Defined 107,100
- -----------------------------------------------------------------------------------------------------------------------------------
PAGE TOTAL 30,313
- -----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 33
FORM 13F INFORMATION TABLE
GTE INVESTMENT MANAGEMENT CORPORATION
<TABLE>
<CAPTION>
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
- ------------------------ -------------- -------- -------- ------------------ ---------- -------- --------------------
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
- ------------------------ -------------- -------- -------- ------- --- ---- ---------- -------- --------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
PPG INDS INC COM 693506107 615 12,000 Defined 1 12,000
- -----------------------------------------------------------------------------------------------------------------------------------
PACIFICARE HEALTH SYS DEL CL B 695112201 348 5,100 Defined 1 5,100
- -----------------------------------------------------------------------------------------------------------------------------------
PAINE WEBBER GROUP INC COM 695629105 1,396 35,000 Defined 1 35,000
- -----------------------------------------------------------------------------------------------------------------------------------
PARKER HANNIFIN CORP COM 701094104 514 15,000 Defined 1 15,000
- -----------------------------------------------------------------------------------------------------------------------------------
PAYCHEX INC COM 704326107 1,186 25,000 Defined 1 25,000
- -----------------------------------------------------------------------------------------------------------------------------------
PENTON MEDIA INC COM 709668107 349 15,500 Defined 1 15,500
- -----------------------------------------------------------------------------------------------------------------------------------
PEPSICO INC COM 713448108 14,824 378,300 Defined 1 378,300
- -----------------------------------------------------------------------------------------------------------------------------------
PERKIN ELMER CORP COM 714041100 3,533 36,400 Defined 1 36,400
- -----------------------------------------------------------------------------------------------------------------------------------
PHARMACIA & UPJOHN INC COM 716941109 2,495 40,000 Defined 1 40,000
- -----------------------------------------------------------------------------------------------------------------------------------
PFIZER INC COM 717081103 47,869 345,000 Defined 1 345,000
- -----------------------------------------------------------------------------------------------------------------------------------
PAGE TOTAL 73,129
- -----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 34
FORM 13F INFORMATION TABLE
GTE INVESTMENT MANAGEMENT CORPORATION
<TABLE>
<CAPTION>
COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
- ------------------------ -------------- -------- -------- ------------------ ---------- -------- --------------------
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
- ------------------------ -------------- -------- -------- ------- --- ---- ---------- -------- --------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
PHELPS DODGE CORP COM 717265102 217 4,400 Defined 4,400
- ------------------------------------------------------------------------------------------------------------------------------------
PHILIP MORRIS COS INC COM 718154107 17,593 500,000 Defined 500,000
- ------------------------------------------------------------------------------------------------------------------------------------
PHILLIPS PETE CO COM 718507106 5,212 110,300 Defined 110,300
- ------------------------------------------------------------------------------------------------------------------------------------
PRICE T ROWE & ASSOCIATES COM 741477103 412 12,000 Defined 12,000
- ------------------------------------------------------------------------------------------------------------------------------------
PROCTER & GAMBLE CO COM 742718109 34,621 353,500 Defined 353,500
- ------------------------------------------------------------------------------------------------------------------------------------
PROGRESSIVE CORP OHIO COM 743315103 1,220 8,500 Defined 8,500
- ------------------------------------------------------------------------------------------------------------------------------------
PROTECTIVE LIFE CORP COM 743674103 2,083 55,000 Defined 55,000
- ------------------------------------------------------------------------------------------------------------------------------------
PROVIDIAN FINL CORP COM 74406A102 13,420 122,000 Defined 122,000
- ------------------------------------------------------------------------------------------------------------------------------------
PUBLIC SVC ENTERPRISE GROUP COM 744573106 1,432 37,500 Defined 37,500
- ------------------------------------------------------------------------------------------------------------------------------------
R & B FALCON CORP COM 74912E101 384 44,500 Defined 44,500
- ------------------------------------------------------------------------------------------------------------------------------------
PAGE TOTAL 76,594
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 35
FORM 13F INFORMATION TABLE
GTE INVESTMENT MANAGEMENT CORPORATION
<TABLE>
<CAPTION>
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
- ------------------------ -------------- -------- -------- ------------------ ---------- -------- -----------------
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
- ------------------------ -------------- -------- -------- ------- --- ---- ---------- -------- -----------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
QWEST COMMUNICATIONS INTL INC COM 749121109 2,725 37,800 Defined 37,800
- ------------------------------------------------------------------------------------------------------------------------------------
RJR NABISCO HOLDINGS CORP COM NEW 74960K876 2,260 90,400 Defined 90,400
- ------------------------------------------------------------------------------------------------------------------------------------
RALSTON PURINA CO COM RAL-PUR GP 751277302 4,107 153,900 Defined 153,900
- ------------------------------------------------------------------------------------------------------------------------------------
RAYTHEON CO CL B 755111408 2,814 48,000 Defined 48,000
- ------------------------------------------------------------------------------------------------------------------------------------
READERS DIGEST ASSN INC CL A NON VTG 755267101 707 22,500 Defined 22,500
- ------------------------------------------------------------------------------------------------------------------------------------
REALNETWORKS INC COM 75605L104 367 3,000 Defined 3,000
- ------------------------------------------------------------------------------------------------------------------------------------
REPSOL S A SPONSORED ADR 76026T205 477 9,300 Defined 9,300
- ------------------------------------------------------------------------------------------------------------------------------------
REPUBLIC N Y CORP COM 760719104 1,107 24,000 Defined 24,000
- ------------------------------------------------------------------------------------------------------------------------------------
RITE AID CORP COM 767754104 200 8,000 Defined 8,000
- ------------------------------------------------------------------------------------------------------------------------------------
ROBERT HALF INTL INC COM 770323103 213 6,500 Defined 6,500
- ------------------------------------------------------------------------------------------------------------------------------------
PAGE TOTAL 14,977
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 36
FORM 13F INFORMATION TABLE
GTE INVESTMENT MANAGEMENT CORPORATION
<TABLE>
<CAPTION>
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
- ------------------------ -------------- -------- -------- ------------------ ---------- -------- --------------------
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
- ------------------------ -------------- -------- -------- ------- --- ---- ---------- -------- --------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
ROGERS CANTEL MOBILE COMMN CL B RSTRG VTG 775102205 849 47,000 Defined 47,000
- ------------------------------------------------------------------------------------------------------------------------------------
ROHM & HAAS CO COM 775371107 1,527 45,500 Defined 45,500
- ------------------------------------------------------------------------------------------------------------------------------------
ROYAL DUTCH PETE CO NY REG GLD1.25 780257804 7,800 150,000 Defined 150,000
- ------------------------------------------------------------------------------------------------------------------------------------
RYERSON TULL INC NEW COM 78375P107 32 2,200 Defined 2,200
- ------------------------------------------------------------------------------------------------------------------------------------
SBC COMMUNICATIONS INC COM 78387G103 18,403 390,000 Defined 390,000
- ------------------------------------------------------------------------------------------------------------------------------------
SFX ENTMT INC CL A 784178105 575 8,900 Defined 8,900
- ------------------------------------------------------------------------------------------------------------------------------------
SLM HLDG CORP COM 78442A109 601 14,400 Defined 14,400
- ------------------------------------------------------------------------------------------------------------------------------------
SPS TECHNOLOGIES INC COM 784626103 141 3,600 Defined 3,600
- ------------------------------------------------------------------------------------------------------------------------------------
SAFEWAY INC COM NEW 786514208 16,009 312,000 Defined 312,000
- ------------------------------------------------------------------------------------------------------------------------------------
ST PAUL COS INC COM 792860108 3,684 118,600 Defined 118,600
- ------------------------------------------------------------------------------------------------------------------------------------
PAGE TOTAL 49,621
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 37
FORM 13F INFORMATION TABLE
GTE INVESTMENT MANAGEMENT CORPORATION
<TABLE>
<CAPTION>
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
- ----------------------- -------------- -------- -------- ------------------ ---------- -------- --------------------
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
- ----------------------- -------------- -------- -------- ------- --- ---- ---------- -------- --------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
SCHERING PLOUGH CORP COM 806605101 33,426 605,000 Defined 605,000
- -------------------------------------------------------------------------------------------------------------------------------
SCHLUMBERGER LTD COM 806857108 7,024 116,700 Defined 116,700
- -------------------------------------------------------------------------------------------------------------------------------
SCHWAB CHARLES CORP NEW COM 808513105 10,574 110,000 Defined 110,000
- -------------------------------------------------------------------------------------------------------------------------------
SEAGATE TECHNOLOGY COM 811804103 148 5,000 Defined 5,000
- -------------------------------------------------------------------------------------------------------------------------------
SEAGRAM LTD COM 811850106 5,460 109,200 Defined 109,200
- -------------------------------------------------------------------------------------------------------------------------------
SEALED AIR CORP NEW COM 81211K100 1,203 24,459 Defined 24,459
- -------------------------------------------------------------------------------------------------------------------------------
SEALED AIR CORP NEW PFD CV A $2 81211K209 169 3,420 Defined 3,420
- -------------------------------------------------------------------------------------------------------------------------------
SEARS ROEBUCK & CO COM 812387108 587 13,000 Defined 13,000
- -------------------------------------------------------------------------------------------------------------------------------
SERVICE CORP INTL COM 817565104 1,003 70,400 Defined 70,400
- -------------------------------------------------------------------------------------------------------------------------------
SERVICEMASTER CO COM 81760N109 859 42,300 Defined 42,300
- -------------------------------------------------------------------------------------------------------------------------------
PAGE TOTAL 60,453
- -------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 38
FORM 13F INFORMATION TABLE
GTE INVESTMENT MANAGEMENT CORPORATION
<TABLE>
<CAPTION>
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
- ------------------ -------------- -------- -------- ------------------ ---------- -------- -------------------
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
- ------------------ -------------- -------- -------- ------- --- ---- ---------- -------- -------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
SIEBEL SYS INC COM 826170102 1,544 32,500 Defined 32,500
- ------------------------------------------------------------------------------------------------------------------------------------
SMITH INTL INC COM 832110100 600 15,000 Defined 15,000
- ------------------------------------------------------------------------------------------------------------------------------------
SOLECTRON CORP COM 834182107 3,496 72,000 Defined 72,000
- ------------------------------------------------------------------------------------------------------------------------------------
SOLUTIA INC COM 834376105 209 12,000 Defined 12,000
- ------------------------------------------------------------------------------------------------------------------------------------
SOUTHERN CO COM 842587107 2,023 86,800 Defined 86,800
- ------------------------------------------------------------------------------------------------------------------------------------
SOUTHWEST AIRLS CO COM 844741108 2,269 75,000 Defined 75,000
- ------------------------------------------------------------------------------------------------------------------------------------
SPRINT CORP COM FON GROUP 852061100 11,795 120,200 Defined 120,200
- -----------------------------------------------------------------------------------------------------------------------------------
SPRINT CORP PCS COM SER 1 852061506 3,323 75,000 Defined 75,000
- ------------------------------------------------------------------------------------------------------------------------------------
STAPLES INC COM 855030102 2,729 83,000 Defined 83,000
- ------------------------------------------------------------------------------------------------------------------------------------
STERIS CORP COM 859152100 1,523 57,200 Defined 57,200
- ------------------------------------------------------------------------------------------------------------------------------------
PAGE TOTAL 29,511
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 39
FORM 13F INFORMATION TABLE
GTE INVESTMENT MANAGEMENT CORPORATION
<TABLE>
<CAPTION>
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
- ------------------------ -------------- -------- -------- ------------------ ---------- -------- --------------------
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
- ------------------------ -------------- -------- -------- ------- --- ---- ---------- -------- --------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
STERLING COMM INC COM 859205106 600 19,500 Defined 19,500
- --------------------------------------------------------------------------------------------------------------------------------
SUN MICROSYSTEMS INC COM 866810104 17,071 136,500 Defined 136,500
- --------------------------------------------------------------------------------------------------------------------------------
SUNBEAM CORP COM 867071102 28 5,000 Defined 5,000
- --------------------------------------------------------------------------------------------------------------------------------
SUNGARD DATA SYS INC COM 867363103 420 10,500 Defined 10,500
- --------------------------------------------------------------------------------------------------------------------------------
SUNOCO INC COM 86764P109 245 6,800 Defined 6,800
- --------------------------------------------------------------------------------------------------------------------------------
SUPERVALU INC COM 868536103 207 10,050 Defined 10,050
- --------------------------------------------------------------------------------------------------------------------------------
TJX COS INC NEW COM 872540109 891 26,200 Defined 26,200
- --------------------------------------------------------------------------------------------------------------------------------
TECH DATA CORP COM 878237106 300 13,100 Defined 13,100
- --------------------------------------------------------------------------------------------------------------------------------
TELEPHONE & DATA SYS INC COM 879433100 4,262 75,600 Defined 75,600
- --------------------------------------------------------------------------------------------------------------------------------
TEMPLE INLAND INC COM 879868107 2,196 35,000 Defined 35,000
- --------------------------------------------------------------------------------------------------------------------------------
PAGE TOTAL 26,220
- --------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 40
FORM 13F INFORMATION TABLE
GTE INVESTMENT MANAGEMENT CORPORATION
<TABLE>
<CAPTION>
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
- ------------------------ -------------- -------- -------- ------------------ ---------- -------- --------------------
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
- ------------------------ -------------- -------- -------- ------- --- ---- ---------- -------- --------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
TENET HEALTHCARE CORP COM 88033G100 314 16,579 Defined 16,579
- ---------------------------------------------------------------------------------------------------------------------------------
TEXACO INC COM 881694103 6,810 120,000 Defined 120,000
- ---------------------------------------------------------------------------------------------------------------------------------
TEXAS INSTRS INC COM 882508104 4,645 46,800 Defined 46,800
- ---------------------------------------------------------------------------------------------------------------------------------
TEXAS UTILS CO COM 882848104 4,704 112,000 Defined 112,000
- ---------------------------------------------------------------------------------------------------------------------------------
TEXTRON INC COM 883203101 4,952 64,000 Defined 64,000
- ---------------------------------------------------------------------------------------------------------------------------------
TIFFANY & CO NEW COM 886547108 1,622 21,700 Defined 21,700
- ---------------------------------------------------------------------------------------------------------------------------------
TIME WARNER INC COM 887315109 30,647 432,800 Defined 432,800
- ---------------------------------------------------------------------------------------------------------------------------------
TOSCO CORP COM NEW 891490302 2,853 115,000 Defined 115,000
- ---------------------------------------------------------------------------------------------------------------------------------
TRANSAMERICA CORP COM 893485102 3,664 51,600 Defined 51,600
- ---------------------------------------------------------------------------------------------------------------------------------
TRAVELERS PPTY CAS CORP CL A 893939108 1,966 55,000 Defined 55,000
- ---------------------------------------------------------------------------------------------------------------------------------
PAGE TOTAL 62,177
- ---------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 41
FORM 13F INFORMATION TABLE
GTE INVESTMENT MANAGEMENT CORPORATION
<TABLE>
<CAPTION>
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
- ------------------------ -------------- -------- -------- ------------------ ---------- -------- --------------------
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
- ------------------------ -------------- -------- -------- ------- --- ---- ---------- -------- --------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
TRICON GLOBAL RESTAURANTS COM 895953107 7,517 107,000 Defined 107,000
- ------------------------------------------------------------------------------------------------------------------------------------
TRIGON HEALTHCARE INC COM 89618L100 531 15,500 Defined 15,500
- ------------------------------------------------------------------------------------------------------------------------------------
TYCO INTL LTD NEW COM 902124106 12,664 176,500 Defined 176,500
- ------------------------------------------------------------------------------------------------------------------------------------
US BANCORP DEL COM 902973106 5,515 161,900 Defined 161,900
- ------------------------------------------------------------------------------------------------------------------------------------
USA NETWORKS INC COM 902984103 895 25,000 Defined 25,000
- ------------------------------------------------------------------------------------------------------------------------------------
UNUM CORP COM 903192102 908 19,100 Defined 19,100
- ------------------------------------------------------------------------------------------------------------------------------------
USEC INC COM 90333E108 226 16,600 Defined 16,600
- ------------------------------------------------------------------------------------------------------------------------------------
USX-U S STL COM 90337T101 353 15,000 Defined 15,000
- ------------------------------------------------------------------------------------------------------------------------------------
UNILEVER N V NEW YORK SHS 904784501 15,181 228,500 Defined 228,500
- ------------------------------------------------------------------------------------------------------------------------------------
UNICOM CORP COM 904911104 3,400 93,000 Defined 93,000
- ------------------------------------------------------------------------------------------------------------------------------------
PAGE TOTAL 47,190
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 42
FORM 13F INFORMATION TABLE
GTE INVESTMENT MANAGEMENT CORPORATION
<TABLE>
<CAPTION>
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
- ------------------------ -------------- -------- -------- ------------------ ---------- -------- --------------------
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
- ------------------------ -------------- -------- -------- ------- --- ---- ---------- -------- --------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
UNION CAMP CORP COM 905530101 705 10,500 Defined 10,500
- --------------------------------------------------------------------------------------------------------------------------------
UNION CARBIDE CORP COM 905581104 1,658 36,700 Defined 36,700
- --------------------------------------------------------------------------------------------------------------------------------
UNION PAC CORP COM 907818108 2,415 45,200 Defined 45,200
- --------------------------------------------------------------------------------------------------------------------------------
UNIONBANCAL CORP COM 908906100 1,632 47,900 Defined 47,900
- --------------------------------------------------------------------------------------------------------------------------------
UNIPHASE CORP COM 909149106 4,605 40,000 Defined 40,000
- --------------------------------------------------------------------------------------------------------------------------------
UNISYS CORP COM 909214108 692 25,000 Defined 25,000
- --------------------------------------------------------------------------------------------------------------------------------
UNITED HEALTHCARE CORP COM 910581107 1,295 24,600 Defined 24,600
- --------------------------------------------------------------------------------------------------------------------------------
U S WEST INC NEW COM 91273H101 2,478 45,000 Defined 45,000
- --------------------------------------------------------------------------------------------------------------------------------
UNITED TECHNOLOGIES CORP COM 913017109 18,961 140,000 Defined 140,000
- --------------------------------------------------------------------------------------------------------------------------------
USWEB CORP COM 917327108 82 2,000 Defined 2,000
- --------------------------------------------------------------------------------------------------------------------------------
PAGE TOTAL 34,523
- --------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 43
FORM 13F INFORMATION TABLE
GTE INVESTMENT MANAGEMENT CORPORATION
<TABLE>
<CAPTION>
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
- ------------------------ -------------- -------- -------- ------------------ ---------- -------- --------------------
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
- ------------------------ -------------- -------- -------- ------- --- ---- ---------- -------- --------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
V F CORP COM 918204108 6,916 145,600 Defined 145,600
- ---------------------------------------------------------------------------------------------------------------------------------
VALASSIS COMMUNICATIONS INC COM 918866104 2,339 45,200 Defined 45,200
- ---------------------------------------------------------------------------------------------------------------------------------
VALERO ENERGY CORP NEW COM 91913Y100 62 2,500 Defined 2,500
- ---------------------------------------------------------------------------------------------------------------------------------
VASTAR RES INC COM 922380100 669 14,000 Defined 14,000
- ---------------------------------------------------------------------------------------------------------------------------------
VERITAS SOFTWARE CO COM 923436109 2,947 36,500 Defined 36,500
- ---------------------------------------------------------------------------------------------------------------------------------
VIACOM INC CL A 925524100 8,048 96,600 Defined 96,600
- ---------------------------------------------------------------------------------------------------------------------------------
VIACOM INC WT EXP 070799 925524134 96 6,051 Defined 6,051
- ---------------------------------------------------------------------------------------------------------------------------------
VIACOM INC CL B 925524308 14,991 178,600 Defined 178,600
- ---------------------------------------------------------------------------------------------------------------------------------
VITESSE SEMICONDUCTOR CORP COM 928497106 516 10,200 Defined 10,200
- ---------------------------------------------------------------------------------------------------------------------------------
VULCAN MATLS CO COM 929160109 4,437 107,400 Defined 107,400
- ---------------------------------------------------------------------------------------------------------------------------------
PAGE TOTAL 41,021
- ---------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 44
FORM 13F INFORMATION TABLE
GTE INVESTMENT MANAGEMENT CORPORATION
<TABLE>
<CAPTION>
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
- ------------------------ -------------- -------- -------- ------------------ ---------- -------- --------------------
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
- ------------------------ -------------- -------- -------- ------- --- ---- ---------- -------- --------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
WAL MART STORES INC COM 931142103 48,573 526,900 Defined 526,900
- ---------------------------------------------------------------------------------------------------------------------------------
WALGREEN CO COM 931422109 6,237 220,764 Defined 220,764
- ---------------------------------------------------------------------------------------------------------------------------------
WARNER LAMBERT CO COM 934488107 16,582 250,300 Defined 250,300
- ---------------------------------------------------------------------------------------------------------------------------------
WASHINGTON MUT INC COM 939322103 11,430 279,628 Defined 279,628
- ---------------------------------------------------------------------------------------------------------------------------------
WASTE MGMT INC DEL COM 94106L109 3,044 68,600 Defined 68,600
- ---------------------------------------------------------------------------------------------------------------------------------
WAUSAU-MOSINEE PAPER CORP COM 943315101 37 2,600 Defined 2,600
- ---------------------------------------------------------------------------------------------------------------------------------
WELLPOINT HEALTH NETWORK NEW COM 94973H108 2,274 30,000 Defined 30,000
- ---------------------------------------------------------------------------------------------------------------------------------
WELLS FARGO & CO NEW COM 949746101 175 5,000 Defined 5,000
- ---------------------------------------------------------------------------------------------------------------------------------
WESTAMERICA BANCORPORATION COM 957090103 791 25,000 Defined 25,000
- ---------------------------------------------------------------------------------------------------------------------------------
WEYERHAEUSER CO COM 962166104 1,748 31,500 Defined 31,500
- ---------------------------------------------------------------------------------------------------------------------------------
PAGE TOTAL 90,891
- ---------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 45
FORM 13F INFORMATION TABLE
GTE INVESTMENT MANAGEMENT CORPORATION
<TABLE>
<CAPTION>
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
- ------------------------ -------------- -------- -------- ------------------ ---------- -------- --------------------
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
- ------------------------ -------------- -------- -------- ------- --- ---- ---------- -------- --------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
WHIRLPOOL CORP COM 963320106 299 5,500 Defined 5,500
- ----------------------------------------------------------------------------------------------------------------------------------
WILLAMETTE INDS INC COM 969133107 793 21,000 Defined 21,000
- ----------------------------------------------------------------------------------------------------------------------------------
WILLIAMS COS INC DEL COM 969457100 1,857 47,000 Defined 47,000
- ----------------------------------------------------------------------------------------------------------------------------------
WILLIAMS SONOMA INC COM 969904101 367 13,000 Defined 13,000
- ----------------------------------------------------------------------------------------------------------------------------------
WISCONSIN ENERGY CORP COM 976657106 1,303 50,000 Defined 50,000
- ----------------------------------------------------------------------------------------------------------------------------------
XEROX CORP COM 984121103 16,617 318,800 Defined 318,800
- ----------------------------------------------------------------------------------------------------------------------------------
YAHOO INC COM 984332106 1,094 6,500 Defined 6,500
- ----------------------------------------------------------------------------------------------------------------------------------
PAGE TOTAL 22,330
- ----------------------------------------------------------------------------------------------------------------------------------
GRAND TOTAL 2,538,938
- ----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
