<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: December 31, 1999
Check here if Amendment [ ]; Amendment Number: ____
This Amendment (Check only one): [ ] is a restatement.
[ ] adds new holdings entries.
Institutional Investment Manager Filing this Report:
Name: GTE Investment Management Corporation
Address: 695 Main Street, Suite 600
Stamford, CT 06912-0029
13F File Number: 28-01105
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, Connecticut 02/03/00
- ----------------------------- --------------------- --------
(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 managers.)
[ ] 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 managers.)
List of Other Managers Reporting for this Manager: None
<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: $2,891,609
-----------
(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 28-01105-01 GTE Leasing Corporation
</TABLE>
<PAGE> 3
FORM 13F NAME OF REPORTING MANAGER: 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 Stearns 5.50 Preferred 07390220 $787 18,400 X 2 18,400
Citicorp 6.00 Preferred 173034208 $ 0 called 2/28/98 X 2 called 2/28/98
Citicorp 6.00 Preferred 173034208 $ 0 called 2/28/98 X 2 called 2/28/98
TOTAL PORTFOLIO $787
</TABLE>
<PAGE> 4
FORM 13F NAME OF REPORTING MANAGER: 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 1,716 22,005 X 1 22,005
GLOBAL CROSSING LTD COM G3921A100 5,354 107,075 X 1 107,075
ROYAL CARIBBEAN
CRUISES LTD PFD CONV A V7780T111 909 6,000 X 1 6,000
A D C TELECOMMUNICATIONS COM 000886101 617 8,500 X 1 8,500
AES CORP COM 00130H105 725 9,700 X 1 9,700
AMR CORP COM 001765106 2,680 40,000 X 1 40,000
AT&T CORP COM 001957109 32,075 631,252 X 1 631,252
AT&T CORP COM LIB GRP A 001957208 18,084 318,314 X 1 318,314
AXA FINL INC COM 002451102 5,117 150,500 X 1 150,500
ABBOTT LABS COM 002824100 1,380 38,000 X 1 38,000
PAGE TOTAL 68,657
</TABLE>
<PAGE> 5
FORM 13F NAME OF REPORTING MANAGER: 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>
ABERCROMBIE & FITCH CO CL A 002896207 160 6,000 X 1 6,000
ADELPHIA COMMUNICATIONS
CORP CL A 006848105 657 10,016 X 1 10,016
ADOBE SYS INC COM 00724F101 3,504 52,100 X 1 52,100
AERIAL COMMUNICATIONS
INC COM 007655103 2,752 45,200 X 1 45,200
AEGON N V ORD AMER REG 007924103 1,991 20,847 X 1 20,847
AETNA INC COM 008117103 1,005 18,000 X 1 18,000
AGRIBRANDS INTL INC COM 00849R105 799 17,360 X 1 17,360
AIR PRODS & CHEMS INC COM 009158106 699 20,831 X 1 20,831
ALBERTSONS INC COM 013104104 2,582 80,050 X 1 80,050
ALCAN ALUMINIUM LTD NEW COM 013716105 1,159 28,000 X 1 28,000
PAGE TOTAL 15,308
</TABLE>
<PAGE> 6
FORM 13F NAME OF REPORTING MANAGER: 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$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
- ------------------------ -------------- -------- -------- ------- --- ---- ---------- -------- --------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
ALCOA INC COM 013817101 9,130 110,000 X 1 110,000
ALLEGHENY ENERGY INC COM 017361106 2,605 96,700 X 1 96,700
ALLEGHENY TECHNOLOGIES
INC COM 01741R102 538 24,000 X 1 24,000
ALLEGIANCE TELECOM INC COM 01747T102 480 5,200 X 1 5,200
ALLERGAN INC COM 018490102 1,642 33,000 X 1 33,000
ALLIED WASTE INDS INC COM PAR$.01NEW 019589308 176 20,000 X 1 20,000
ALLSTATE CORP COM 020002101 1,925 80,000 X 1 80,000
ALLTEL CORP COM 020039103 5,292 64,000 X 1 64,000
ALZA CORP DEL COM 022615108 1,949 56,300 X 1 56,300
AMAZON COM INC COM 023135106 2,855 37,500 X 1 37,500
PAGE TOTAL 26,592
</TABLE>
<PAGE> 7
FORM 13F NAME OF REPORTING MANAGER: 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>
AMBAC FINL GROUP INC COM 023139108 6,195 118,700 X 1 118,700
AMERICA ONLINE INC DEL COM 02364J104 43,704 576,000 X 1 576,000
AMERICAN EAGLE
OUTFITTERS NEW COM 02553E106 518 11,500 X 1 11,500
AMERICAN EXPRESS CO COM 025816109 30,507 183,500 X 1 183,500
AMERICAN GENERAL CORP COM 026351106 6,097 80,360 X 1 80,360
AMERICAN HOME PRODS
CORP COM 026609107 10,982 279,800 X 1 279,800
AMERICAN INTL GROUP
INC COM 026874107 32,306 298,784 X 1 298,784
AMGEN INC COM 031162100 22,055 367,200 X 1 367,200
AMSOUTH BANCORPORATION COM 032165102 3,186 165,000 X 1 165,000
ANHEUSER BUSCH COS INC COM 035229103 10,603 149,600 X 1 149,600
PAGE TOTAL 166,153
</TABLE>
<PAGE> 8
FORM 13F NAME OF REPORTING MANAGER: 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>
ANNTAYLOR STORES CORP COM 036115103 165 4,800 X 1 4,800
AON CORP COM 037389103 2,940 73,500 X 1 73,500
APPLE COMPUTER INC COM 037833100 5,357 52,100 X 1 52,100
APPLIED MATLS INC COM 038222105 14,189 112,000 X 1 112,000
ARCHER DANIELS
MIDLAND CO COM 039483102 446 36,800 X 1 36,800
ARROW ELECTRS INC COM 042735100 176 6,918 X 1 6,918
ASHLAND INC COM 044204105 2,051 62,268 X 1 62,268
ASSOCIATED BANC CORP COM 045487105 945 27,583 X 1 27,583
ASSOCIATED GROUP INC CL A 045651106 1,095 12,000 X 1 12,000
ASSOCIATES FIRST
CAP CORP CL A 046008108 1,028 37,484 X 1 37,484
PAGE TOTAL 28,392
</TABLE>
<PAGE> 9
FORM 13F NAME OF REPORTING MANAGER: 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>
ATLANTIC RICHFIELD CO COM 048825103 5,602 64,760 X 1 64,760
AVERY DENNISON CORP COM 053611109 1,504 20,640 X 1 20,640
AVON PRODS INC COM 054303102 990 30,000 X 1 30,000
AZTAR CORP COM 054802103 632 58,100 X 1 58,100
BJS WHOLESALE
CLUB INC COM 05548J106 1,913 52,400 X 1 52,400
BJ SVCS CO COM 055482103 502 12,000 X 1 12,000
BP AMOCO P L C SPONSORED ADR 055622104 2,966 50,000 X 1 50,000
BMC SOFTWARE INC COM 055921100 4,876 61,000 X 1 61,000
BALL CORP COM 058498106 453 11,500 X 1 11,500
BANK OF AMERICA
CORPORATION COM 060505104 20,316 404,800 X 1 404,800
PAGE TOTAL 39,754
</TABLE>
<PAGE> 10
FORM 13F NAME OF REPORTING MANAGER: 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>
BANK NEW YORK INC COM 064057102 8,440 211,000 X 1 211,000
BANK ONE CORP COM 06423A103 5,174 161,700 X 1 161,700
BARD C R INC COM 067383109 398 7,500 X 1 7,500
BARRICK GOLD CORP COM 067901108 695 39,300 X 1 39,300
BAUSCH & LOMB INC COM 071707103 1,711 25,000 X 1 25,000
BEA SYS INC COM 073325102 5,357 76,600 X 1 76,600
BED BATH & BEYOND INC COM 075896100 844 24,300 X 1 24,300
BELL ATLANTIC CORP COM 077853109 23,517 382,000 X 1 382,000
BELLSOUTH CORP COM 079860102 19,581 418,300 X 1 418,300
BERKSHIRE HATHAWAY
INC DEL CL A 084670108 30 X 1 30
PAGE TOTAL 65,717
</TABLE>
<PAGE> 11
FORM 13F NAME OF REPORTING MANAGER: 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>
BEST BUY INC COM 086516101 1,804 35,900 X 1 35,900
BESTFOODS COM 08658U101 6,570 125,000 X 1 125,000
BIOGEN INC COM 090597105 1,014 12,000 X 1 12,000
BOEING CO COM 097023105 6,245 150,700 X 1 150,700
BOISE CASCADE CORP COM 097383103 1,053 26,008 X 1 26,008
BOSTON SCIENTIFIC
CORP COM 101137107 1,466 67,000 X 1 67,000
BOWATER INC COM 102183100 326 6,000 X 1 6,000
BRIGGS & STRATTON CORP COM 109043109 804 15,000 X 1 15,000
BRISTOL MYERS
SQUIBB CO COM 110122108 44,315 690,400 X 1 690,400
BROADCOM CORP CL A 111320107 3,269 12,000 X 1 12,000
PAGE TOTAL 66,866
</TABLE>
<PAGE> 12
FORM 13F NAME OF REPORTING MANAGER: 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>
BROADWING INC COM 111620100 922 25,000 X 1 25,000
BURLINGTON NORTHN
SANTA FE CP COM 12189T104 2,692 111,000 X 1 111,000
BURLINGTON RES INC COM 122014103 694 21,000 X 1 21,000
CIGNA CORP COM 125509109 7,452 92,500 X 1 92,500
CIT GROUP INC CL A 125577106 537 25,400 X 1 25,400
CMGI INC COM 125750109 3,184 11,500 X 1 11,500
CSX CORP COM 126408103 3,090 98,500 X 1 98,500
CTS CORP COM 126501105 10,839 143,800 X 1 143,800
CVS CORP COM 126650100 1,196 30,000 X 1 30,000
CABLEVISION SYS CORP CL A 12686C109 4,757 63,000 X 1 63,000
PAGE TOTAL 35,363
</TABLE>
<PAGE> 13
FORM 13F NAME OF REPORTING MANAGER: 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>
CALPINE CORP COM 131347106 3,456 54,000 X 1 54,000
CANADIAN PAC LTD NEW COM 135923100 1,089 50,500 X 1 50,500
CAPITAL ONE FINL CORP COM 14040H105 4,250 88,200 X 1 88,200
CARDINAL HEALTH INC COM 14149Y108 3,098 64,708 X 1 64,708
CARNIVAL CORP COM 143658102 3,538 74,000 X 1 74,000
CATALINA MARKETING
CORP COM 148867104 579 5,000 X 1 5,000
CATERPILLAR INC DEL COM 149123101 1,473 31,300 X 1 31,300
CENDANT CORP COM 151313103 7,854 295,694 X 1 295,694
CENTURYTEL INC COM 156700106 2,369 50,000 X 1 50,000
CERIDIAN CORP COM 15677T106 168 7,800 X 1 7,800
PAGE TOTAL 27,874
</TABLE>
<PAGE> 14
FORM 13F NAME OF REPORTING MANAGER: 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>
CHAMPION INTL CORP COM 158525105 787 12,700 X 1 12,700
CHARTER ONE FINL INC COM 160903100 954 49,860 X 1 49,860
CHASE MANHATTAN
CORP NEW COM 16161A108 17,324 223,000 X 1 223,000
CHECKFREE HLDGS CORP COM 162816102 732 7,000 X 1 7,000
CHEVRON CORPORATION COM 166751107 7,484 86,400 X 1 86,400
CHURCH & DWIGHT INC COM 171340102 438 16,400 X 1 16,400
CINCINNATI FINL CORP COM 172062101 249 8,000 X 1 8,000
CIRCUIT CITY STORE INC CIRCT CITY GRP 172737108 1,442 32,000 X 1 32,000
CISCO SYS INC COM 17275R102 91,742 856,400 X 1 856,400
CINTAS CORP COM 172908105 531 10,000 X 1 10,000
PAGE TOTAL 121,683
</TABLE>
<PAGE> 15
FORM 13F NAME OF REPORTING MANAGER: 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>
CITIGROUP INC COM 172967101 46,579 836,430 X 1 836,430
CITRIX SYS INC COM 177376100 554 4,500 X 1 4,500
CLEAR CHANNEL
COMMUNICATIONS COM 184502102 7,497 84,000 X 1 84,000
CLOROX CO DEL COM 189054109 2,786 55,300 X 1 55,300
COASTAL CORP COM 190441105 1,942 54,790 X 1 54,790
COCA COLA CO COM 191216100 21,844 375,000 X 1 375,000
COCA COLA
ENTERPRISES INC COM 191219104 704 35,000 X 1 35,000
COLE NATIONAL CORP NEW CL A 193290103 50 10,000 X 1 10,000
COLGATE PALMOLIVE CO COM 194162103 10,205 157,000 X 1 157,000
COLUMBIA ENERGY GROUP COM 197648108 6,142 97,100 X 1 97,100
PAGE TOTAL 98,303
</TABLE>
<PAGE> 16
FORM 13F NAME OF REPORTING MANAGER: 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>
COLUMBIA/HCA HEALTHCARE
CORP COM 197677107 5,748 196,100 X 1 196,100
COMCAST CORP CL A SPL 200300200 5,360 106,000 X 1 106,000
COMERICA INC COM 200340107 348 7,450 X 1 7,450
COMMONWEALTH TEL
ENTERPRISES COM 203349105 1,745 33,000 X 1 33,000
COMPAQ COMPUTER CORP COM 204493100 1,023 37,800 X 1 37,800
COMVERSE TECHNOLOGY INC COM PAR $0.10 205862402 2,750 19,000 X 1 19,000
CONAGRA INC COM 205887102 703 31,000 X 1 31,000
CONEXANT SYSTEMS INC COM 207142100 2,144 32,300 X 1 32,300
CONOCO INC CL B 208251405 1,007 40,483 X 1 40,483
CONSOLIDATED NAT GAS CO COM 209615103 2,597 40,000 X 1 40,000
PAGE TOTAL 23,425
</TABLE>
<PAGE> 17
FORM 13F NAME OF REPORTING MANAGER: 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>
CONSOLIDATED PRODS INC COM 209798107 1,150 113,567 X 1 113,567
COOPER INDS INC COM 216669101 2,305 57,000 X 1 57,000
CORNING INC COM 219350105 13,732 106,500 X 1 106,500
COSTCO WHSL CORP NEW COM 22160K105 5,621 61,600 X 1 61,600
COUNTRYWIDE CR INDS
INC DEL COM 222372104 848 33,600 X 1 33,600
COVAD COMMUNICATIONS
GROUP INC COM 222814204 573 10,250 X 1 10,250
COX COMMUNICATIONS
INC NEW CL A 224044107 1,693 32,879 X 1 32,879
COX RADIO INC CL A 224051102 998 10,000 X 1 10,000
CUMMINS ENGINE INC COM 231021106 966 20,000 X 1 20,000
DTE ENERGY CO COM 233331107 2,056 65,000 X 1 65,000
PAGE TOTAL 29,942
</TABLE>
<PAGE> 18
FORM 13F NAME OF REPORTING MANAGER: 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>
DANA CORP COM 235811106 180 6,000 X 1 6,000
DAYTON HUDSON CORP COM 239753106 18,484 251,700 X 1 251,700
DEAN FOODS CO COM 242361103 477 12,000 X 1 12,000
DEERE & CO COM 244199105 2,676 61,700 X 1 61,700
DELL COMPUTER CORP COM 247025109 35,149 689,200 X 1 689,200
DELPHI AUTOMOTIVE
SYS CORP COM 247126105 767 48,700 X 1 48,700
DELUXE CORP COM 248019101 313 11,400 X 1 11,400
DIAL CORP NEW COM 25247D101 729 30,000 X 1 30,000
DIAMOND OFFSHORE
DRILLING INC COM 25271C102 917 30,000 X 1 30,000
DILLARDS INC CL A 254067101 291 14,400 X 1 14,400
PAGE TOTAL 59,983
</TABLE>
<PAGE> 19
FORM 13F NAME OF REPORTING MANAGER: 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>
DISCOUNT AUTO PTS INC COM 254642101 1,174 65,000 X 1 65,000
DISNEY WALT CO COM DISNEY 254687106 6,420 219,500 X 1 219,500
DOLLAR GEN CORP COM 256669102 669 29,400 X 1 29,400
DOLLAR TREE STORES INC COM 256747106 266 5,500 X 1 5,500
DOMINION RES INC VA COM 257470104 2,630 67,000 X 1 67,000
DONALDSON INC COM 257651109 938 39,000 X 1 39,000
DOUBLECLICK INC COM 258609304 4,049 16,000 X 1 16,000
DOVER CORP COM 260003108 2,114 46,600 X 1 46,600
DOW CHEM CO COM 260543103 13,710 102,600 X 1 102,600
DU PONT E I DE
NEMOURS & CO COM 263534109 9,583 145,480 X 1 145,480
PAGE TOTAL 41,553
</TABLE>
<PAGE> 20
FORM 13F NAME OF REPORTING MANAGER: 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>
DUKE ENERGY CORP COM 264399106 909 18,131 X 1 18,131
DUN & BRADSTREET
CORP DEL COM 26483B106 502 17,000 X 1 17,000
DYNEGY INC COM 26816L102 365 15,000 X 1 15,000
E M C CORP MASS COM 268648102 38,849 355,600 X 1 355,600
ENSCO INTL INC COM 26874Q100 343 15,000 X 1 15,000
E TRADE GROUP INC COM 269246104 392 15,000 X 1 15,000
EASTMAN KODAK CO COM 277461109 9,606 145,000 X 1 145,000
EATON CORP COM 278058102 2,934 40,400 X 1 40,400
EBAY INC COM 278642103 2,003 16,000 X 1 16,000
ECHOSTAR COMMUNICATIONS
NEW CL A 278762109 1,511 15,500 X 1 15,500
PAGE TOTAL 57,414
</TABLE>
<PAGE> 21
FORM 13F NAME OF REPORTING MANAGER: 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>
EDISON INTL COM 281020107 1,178 45,000 X 1 45,000
EL PASO ENERGY CORP DEL COM 283905107 2,135 55,000 X 1 55,000
ELECTRONIC ARTS INC COM 285512109 1,470 17,500 X 1 17,500
ELECTRONIC DATA SYS NEW COM 285661104 7,035 105,100 X 1 105,100
EMERSON ELEC CO COM 291011104 4,160 72,500 X 1 72,500
ENGELHARD CORP COM 292845104 62 3,300 X 1 3,300
ENRON CORP COM 293561106 4,389 98,900 X 1 98,900
ENTERGY CORP NEW COM 29364G103 185 7,200 X 1 7,200
EXODUS COMMUNICATIONS
INC COM 302088109 1,856 20,900 X 1 20,900
EXPEDITORS INTL
WASH INC COM 302130109 1,402 32,000 X 1 32,000
PAGE TOTAL 23,872
</TABLE>
<PAGE> 22
FORM 13F NAME OF REPORTING MANAGER: 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>
EXXON MOBIL CORP COM 30231G102 61,752 766,510 X 1 766,510
F M C CORP NEW COM 302491303 1,032 18,000 X 1 18,000
FDX CORP COM 31304N107 4,032 98,500 X 1 98,500
FEDERAL HOME LN
MTG CORP COM 313400301 3,243 68,914 X 1 68,914
FEDERAL NATL MTG ASSN COM 313586109 8,348 133,700 X 1 133,700
FEDERATED DEPT STORES
INC DEL COM 31410H101 6,447 127,500 X 1 127,500
FERRO CORP COM 315405100 1,049 47,700 X 1 47,700
FINOVA GROUP INC COM 317928109 604 17,000 X 1 17,000
FIRST DATA CORP COM 319963104 6,657 135,000 X 1 135,000
FIRST UN CORP COM 337358105 6,917 210,000 X 1 210,000
PAGE TOTAL 100,081
</TABLE>
<PAGE> 23
FORM 13F NAME OF REPORTING MANAGER: 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>
FIRSTAR CORP NEW WIS COM 33763V109 5,594 264,800 X 1 264,800
FLEETBOSTON FINL CORP COM 339030108 4,137 118,830 X 1 118,830
FORD MTR CO DEL COM 345370100 14,661 275,000 X 1 275,000
FOREST LABS INC COM 345838106 5,483 89,246 X 1 89,246
FORT JAMES CORP COM 347471104 205 7,500 X 1 7,500
FORTUNE BRANDS INC COM 349631101 2,480 75,000 X 1 75,000
FREEPORT-MCMORAN
COPPER&GOLD CL B 35671D857 258 12,200 X 1 12,200
FULLER H B CO COM 359694106 839 15,000 X 1 15,000
GTE CORP COM 362320103 15,312 217,000 X 1 217,000
GANNETT INC COM 364730101 1,966 24,100 X 1 24,100
PAGE TOTAL 50,935
</TABLE>
<PAGE> 24
FORM 13F NAME OF REPORTING MANAGER: 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>
GAP INC DEL COM 364760108 12,237 266,012 X 1 266,012
GENERAL DYNAMICS CORP COM 369550108 1,504 28,500 X 1 28,500
GENERAL ELEC CO COM 369604103 117,734 760,800 X 1 760,800
GENERAL MLS INC COM 370334104 894 25,000 X 1 25,000
GENERAL MTRS CORP COM 370442105 15,918 219,000 X 1 219,000
GENERAL MTRS CORP NEW CL H 370442832 4,416 46,000 X 1 46,000
GENUINE PARTS CO COM 372460105 452 18,200 X 1 18,200
GENZYME CORP COM GENL DIV 372917104 2,430 54,000 X 1 54,000
GEORGIA PAC CORP COM GA PAC GRP 373298108 4,314 85,000 X 1 85,000
GILLETTE CO COM 375766102 3,101 75,300 X 1 75,300
PAGE TOTAL 162,999
</TABLE>
<PAGE> 25
FORM 13F NAME OF REPORTING MANAGER: 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>
GLOBAL MARINE INC COM 379352404 2,269 136,500 X 1 136,500
GLOBAL TELESYSTEMS
GROUP COM 37936U104 695 20,000 X 1 20,000
GOODYEAR TIRE &
RUBR CO COM 382550101 123 4,400 X 1 4,400
GRAINGER W W INC COM 384802104 631 13,200 X 1 13,200
GREAT LAKES CHEM CORP COM 390568103 229 6,000 X 1 6,000
GREENPOINT FINL CORP COM 395384100 698 29,300 X 1 29,300
GUIDANT CORP COM 401698105 3,661 77,900 X 1 77,900
HALLIBURTON CO COM 406216101 3,111 77,300 X 1 77,300
HANNAFORD BROS CO COM 410550107 3,791 54,700 X 1 54,700
HARLEY DAVIDSON INC COM 412822108 5,125 80,000 X 1 80,000
PAGE TOTAL 20,333
</TABLE>
<PAGE> 26
FORM 13F NAME OF REPORTING MANAGER: 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>
HARRIS CORP DEL COM 413875105 667 25,000 X 1 25,000
HARTFORD FINL SVCS
GROUP INC COM 416515104 3,458 73,000 X 1 73,000
HARTFORD LIFE INC CL A 416592103 398 9,046 X 1 9,046
HASBRO INC COM 418056107 757 40,000 X 1 40,000
HELMERICH & PAYNE INC COM 423452101 883 40,600 X 1 40,600
HERTZ CORP CL A 428040109 1,044 20,826 X 1 20,826
HEWLETT PACKARD CO COM 428236103 22,477 197,600 X 1 197,600
HOME DEPOT INC COM 437076102 39,755 578,250 X 1 578,250
HONEYWELL INTL INC COM 438516106 10,982 190,374 X 1 190,374
HORMEL FOODS CORP COM 440452100 406 10,000 X 1 10,000
PAGE TOTAL 80,827
</TABLE>
<PAGE> 27
FORM 13F NAME OF REPORTING MANAGER: 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>
HOUSEHOLD INTL INC COM 441815107 1,043 28,000 X 1 28,000
HUMAN GENOME
SCIENCES INC COM 444903108 2,289 15,000 X 1 15,000
IBP INC COM 449223106 432 24,000 X 1 24,000
ITC DELTACOM INC COM 45031T104 1,298 47,000 X 1 47,000
IKON OFFICE
SOLUTIONS INC COM 451713101 615 90,300 X 1 90,300
ILLINOIS TOOL
WKS INC COM 452308109 135 2,000 X 1 2,000
IMMUNEX CORP NEW COM 452528102 3,285 30,000 X 1 30,000
INCO LTD COM 453258402 1,022 43,500 X 1 43,500
INFINITY BROADCASTING
CP NEW CL A 45662S102 2,075 57,350 X 1 57,350
INFOSPACE COM INC COM 45678T102 856 4,000 X 1 4,000
PAGE TOTAL 13,050
</TABLE>
<PAGE> 28
FORM 13F NAME OF REPORTING MANAGER: 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>
INGERSOLL-RAND CO COM 456866102 1,679 30,500 X 1 30,500
INTEL CORP COM 458140100 59,577 723,800 X 1 723,800
INTERNATIONAL BUSINESS
MACHS COM 459200101 41,251 382,400 X 1 382,400
INTERNATIONAL FLAVORS &
FRAGRANC COM 459506101 75 2,000 X 1 2,000
INTERNATIONAL GAME
TECHNOLOGY COM 459902102 609 30,000 X 1 30,000
INTL PAPER CO COM 460146103 4,893 86,700 X 1 86,700
INTIMATE BRANDS INC CL A 461156101 798 18,500 X 1 18,500
ISLE OF CAPRI
CASINOS INC COM 464592104 84 6,351 X 1 6,351
ITRON INC SB NT CV 465741AA4 208 367,000 X 1 367,000
144A 04
I2 TECHNOLOGIES INC COM 465754109 2,399 12,300 X 1 12,300
PAGE TOTAL 111,573
</TABLE>
<PAGE> 29
FORM 13F NAME OF REPORTING MANAGER: 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>
JDS UNIPHASE CORP COM 46612J101 18,712 116,000 X 1 116,000
JLK DIRECT
DISTRIBUTION INC CL A 46621C105 311 30,200 X 1 30,200
JACK IN THE BOX INC COM 466367109 621 30,000 X 1 30,000
JEFFERSON PILOT CORP COM 475070108 2,505 36,700 X 1 36,700
JOHNSON & JOHNSON COM 478160104 28,106 301,400 X 1 301,400
JONES APPAREL GROUP INC COM 480074103 4,622 170,400 X 1 170,400
JONES PHARMA INC COM 480236108 1,058 24,350 X 1 24,350
K MART CORP COM 482584109 767 76,200 X 1 76,200
KANSAS CITY SOUTHN
INDS INC COM 485170104 1,866 25,000 X 1 25,000
KELLY SVCS INC CL A 488152208 186 7,400 X 1 7,400
PAGE TOTAL 58,754
</TABLE>
<PAGE> 30
FORM 13F NAME OF REPORTING MANAGER: 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>
KEYCORP NEW COM 493267108 925 41,800 X 1 41,800
KIMBERLY CLARK CORP COM 494368103 14,769 225,700 X 1 225,700
KNIGHT/TRIMARK
GROUP INC CL A 499067106 359 7,800 X 1 7,800
KOHLS CORP COM 500255104 4,331 60,000 X 1 60,000
KROGER CO COM 501044101 6,438 341,100 X 1 341,100
LEAR CORP COM 521865105 1,635 51,100 X 1 51,100
LEGGETT & PLATT INC COM 524660107 1,773 82,700 X 1 82,700
LEHMAN BROS HLDGS INC COM 524908100 5,970 70,500 X 1 70,500
LEVEL 3
COMMUNICATIONS INC COM 52729N100 2,293 28,000 X 1 28,000
LEXMARK INTL GROUP INC CL A 529771107 3,520 38,900 X 1 38,900
PAGE TOTAL 42,013
</TABLE>
<PAGE> 31
================================================================================
FORM 13F NAME OF REPORTING MANAGER: 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>
LIBERTY DIGITAL INC CL A 530436104 1,188 16,000 X 1 16,000
LILLY ELI & CO COM 532457108 10,906 164,000 X 1 164,000
LOCKHEED MARTIN CORP COM 539830109 2,034 93,000 X 1 93,000
LOWES COS INC COM 548661107 2,772 46,400 X 1 46,400
LUCENT TECHNOLOGIES INC COM 549463107 45,264 603,516 X 1 603,516
LYONDELL CHEMICAL CO COM 552078107 383 30,000 X 1 30,000
MBIA INC COM 55262C100 3,713 70,300 X 1 70,300
MBNA CORP COM 55262L100 6,197 227,400 X 1 227,400
MCI WORLDCOM INC COM 55268B106 39,152 737,850 X 1 737,850
MARSH & MCLENNAN
COS INC COM 571748102 16,793 175,500 X 1 175,500
PAGE TOTAL 128,402
</TABLE>
<PAGE> 32
FORM 13F NAME OF REPORTING MANAGER: 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>
MASCO CORP COM 574599106 1,269 50,000 X 1 50,000
MATTEL INC COM 577081102 1,509 115,000 X 1 115,000
MAY DEPT STORES CO COM 577778103 1,129 35,000 X 1 35,000
MAYTAG CORP COM 578592107 1,646 34,300 X 1 34,300
MCDONALDS CORP COM 580135101 8,701 215,851 X 1 215,851
MCGRAW HILL COS INC COM 580645109 616 10,000 X 1 10,000
MCLEODUSA INC COM 582266102 707 12,000 X 1 12,000
MEAD CORP COM 582834107 1,651 38,000 X 1 38,000
MEDIAONE GROUP INC COM 58440J104 3,902 50,800 X 1 50,800
MEDIA GEN INC CL A 584404107 1,690 32,500 X 1 32,500
PAGE TOTAL 22,820
</TABLE>
<PAGE> 33
FORM 13F NAME OF REPORTING MANAGER: 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>
MEDICAL MANAGER
CORP NEW COM 58461U103 1,736 20,600 X 1 20,600
MEDICIS PHARMACEUTICAL
CORP CL A NEW 584690309 766 18,000 X 1 18,000
MEDIMMUNE INC COM 584699102 3,318 20,000 X 1 20,000
MEDTRONIC INC COM 585055106 9,537 261,728 X 1 261,728
MELLON FINL CORP COM 58551A108 5,232 153,600 X 1 153,600
MEMBERWORKS INC COM 586002107 313 9,432 X 1 9,432
MERCK & CO INC COM 589331107 25,833 384,500 X 1 384,500
MERRILL LYNCH & CO INC COM 590188108 6,573 78,900 X 1 78,900
MICROSOFT CORP COM 594918104 137,181 1,175,000 X 1 1,175,000
MINNESOTA MNG & MFG CO COM 604059105 5,253 53,669 X 1 53,669
PAGE TOTAL 195,742
</TABLE>
<PAGE> 34
FORM 13F NAME OF REPORTING MANAGER: 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>
MODINE MFG CO COM 607828100 500 20,000 X 1 20,000
MONSANTO CO COM 611662107 6,489 183,100 X 1 183,100
MORGAN J P & CO INC COM 616880100 9,244 73,000 X 1 73,000
MORGAN STANLEY DEAN
WITTER & CO COM NEW 617446448 29,264 205,000 X 1 205,000
MOTOROLA INC COM 620076109 18,922 128,500 X 1 128,500
NTL INC COM 629407107 3,942 31,600 X 1 31,600
NABISCO GROUP HLDG CORP COM 62952P102 941 88,564 X 1 88,564
NABISCO HLDGS CORP CL A 629526104 658 20,900 X 1 20,900
NATIONAL CITY CORP COM 635405103 332 14,000 X 1 14,000
NATIONAL SEMICONDUCTOR
CORP COM 637640103 3,404 79,500 X 1 79,500
PAGE TOTAL 73,696
</TABLE>
<PAGE> 35
FORM 13F NAME OF REPORTING MANAGER: 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>
NAVISTAR INTL CORP NEW COM 63934E108 3,196 68,000 X 1 68,000
NETWORK APPLIANCE INC COM 64120L104 2,226 26,800 X 1 26,800
NEW ENGLAND ELEC SYS COM 644001109 1,811 35,000 X 1 35,000
NEW YORK TIMES CO CL A 650111107 737 15,000 X 1 15,000
NEWFIELD EXPL CO COM 651290108 1,654 61,850 X 1 61,850
NEWMONT MINING CORP COM 651639106 436 17,800 X 1 17,800
NEWS CORP LTD ADR NEW 652487703 3,213 84,000 X 1 84,000
NEXTEL COMMUNICATIONS
INC CL A 65332V103 5,548 53,800 X 1 53,800
NEXTLINK COMMUNICATIONS
INC CL A 65333H707 8,846 106,500 X 1 106,500
NIKE INC CL B 654106103 3,603 72,700 X 1 72,700
PAGE TOTAL 31,270
</TABLE>
<PAGE> 36
FORM 13F NAME OF REPORTING MANAGER: 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>
99 CENTS ONLY STORES COM 65440K106 1,347 35,206 X 1 35,206
NOKIA CORP SPONSORED ADR 654902204 27,226 142,500 X 1 142,500
NOBLE DRILLING CORP COM 655042109 590 18,000 X 1 18,000
NORFOLK SOUTHERN CORP COM 655844108 820 40,000 X 1 40,000
NORTEL NETWORKS CORP COM 656569100 10,361 102,586 X 1 102,586
NORTH FORK
BANCORPORATION NY COM 659424105 341 19,605 X 1 19,605
NORTHN STS PWR CO MINN COM 665772109 4,095 210,000 X 1 210,000
NORTHERN TR CORP COM 665859104 4,309 81,300 X 1 81,300
NORTHROP GRUMMAN CORP COM 666807102 1,579 29,200 X 1 29,200
NOVA CORP GA COM 669784100 4,416 139,900 X 1 139,900
PAGE TOTAL 55,084
</TABLE>
<PAGE> 37
FORM 13F NAME OF REPORTING MANAGER: 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>
OCCIDENTAL PETE
CORP DEL COM 674599105 2,054 95,000 X 1 95,000
ORACLE CORP COM 68389X105 37,059 330,700 X 1 330,700
OWENS ILL INC COM NEW 690768403 544 21,700 X 1 21,700
PECO ENERGY CO COM 693304107 1,599 46,000 X 1 46,000
PE CORP COM PE BIO GRP 69332S102 7,231 60,100 X 1 60,100
PMC-SIERRA INC COM 69344F106 3,206 20,000 X 1 20,000
PNC BK CORP COM 693475105 5,118 115,000 X 1 115,000
P P & L RES INC COM 693499105 4,031 176,200 X 1 176,200
PACCAR INC COM 693718108 266 6,000 X 1 6,000
PAINE WEBBER
GROUP INC COM 695629105 505 13,000 X 1 13,000
PAGE TOTAL 61,613
</TABLE>
<PAGE> 38
FORM 13F NAME OF REPORTING MANAGER: 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>
PARAMETRIC TECHNOLOGY
CORP COM 699173100 2 92 X 1 92
PARKER HANNIFIN CORP COM 701094104 1,026 20,000 X 1 20,000
PAYCHEX INC COM 704326107 872 21,800 X 1 21,800
PENNEY J C INC COM 708160106 1,202 60,288 X 1 60,288
PEPSI BOTTLING
GROUP INC COM 713409100 929 56,100 X 1 56,100
PEPSICO INC COM 713448108 14,100 400,000 X 1 400,000
PHARMACIA &
UPJOHN INC COM 716941109 1,701 37,800 X 1 37,800
PFIZER INC COM 717081103 26,105 804,800 X 1 804,800
PHILIP MORRIS
COS INC COM 718154107 8,128 353,400 X 1 353,400
PHILLIPS PETE CO COM 718507106 4,818 102,500 X 1 102,500
PAGE TOTAL 58,883
</TABLE>
<PAGE> 39
FORM 13F NAME OF REPORTING MANAGER: 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>
PRAXAIR INC COM 74005P104 2,204 43,808 X 1 43,808
PRICE T ROWE
& ASSOCIATES COM 741477103 443 12,000 X 1 12,000
PRICELINE COM INC COM 741503106 829 17,500 X 1 17,500
PROCTER & GAMBLE CO COM 742718109 33,855 309,000 X 1 309,000
PROTECTIVE LIFE CORP COM 743674103 1,591 50,000 X 1 50,000
PROVIDENT FINL
GROUP INC COM 743866105 961 26,800 X 1 26,800
PROVIDIAN FINL CORP COM 74406A102 2,732 30,000 X 1 30,000
PUBLIC SVC ENTERPRISE
GROUP COM 744573106 446 12,800 X 1 12,800
QUAKER OATS CO COM 747402105 3,281 50,000 X 1 50,000
QUALCOMM INC COM 747525103 12,117 68,800 X 1 68,800
PAGE TOTAL 58,459
</TABLE>
<PAGE> 40
FORM 13F NAME OF REPORTING MANAGER: 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>
QUANTUM CORP COM DSSG 747906204 106 7,000 X 1 7,000
QWEST COMMUNICATIONS
INTL INC COM 749121109 1,591 37,000 X 1 37,000
RAYTHEON CO CL B 755111408 664 25,000 X 1 25,000
REPSOL S A SPONSORED ADR 76026T205 837 36,000 X 1 36,000
REYNOLDS R J TOB
HLDGS INC COM 76182K105 283 16,033 X 1 16,033
ROCKWELL INTL CORP NEW COM 773903109 2,011 42,000 X 1 42,000
ROHM & HAAS CO COM 775371107 1,924 47,300 X 1 47,300
ROWAN COS INC COM 779382100 152 7,000 X 1 7,000
ROYAL DUTCH PETE CO NY REG GLD1.25 780257804 14,971 247,200 X 1 247,200
RYDER SYS INC COM 783549108 553 22,650 X 1 22,650
PAGE TOTAL 23,092
</TABLE>
<PAGE> 41
FORM 13F NAME OF REPORTING MANAGER: 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>
SBC COMMUNICATIONS INC COM 78387G103 29,981 615,000 X 1 615,000
SDL INC COM 784076101 436 2,000 X 1 2,000
SEI INVESTMENTS CO COM 784117103 452 3,800 X 1 3,800
SLM HLDG CORP COM 78442A109 866 20,500 X 1 20,500
SAFEWAY INC COM NEW 786514208 7,686 215,000 X 1 215,000
ST PAUL COS INC COM 792860108 1,799 53,400 X 1 53,400
SARA LEE CORP COM 803111103 1,324 60,000 X 1 60,000
SCHERING PLOUGH CORP COM 806605101 15,891 375,000 X 1 375,000
SCHLUMBERGER LTD COM 806857108 12,516 223,000 X 1 223,000
SCHWAB CHARLES
CORP NEW COM 808513105 6,809 178,000 X 1 178,000
PAGE TOTAL 77,760
</TABLE>
<PAGE> 42
FORM 13F NAME OF REPORTING MANAGER: 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>
SEAGRAM LTD COM 811850106 5,715 127,700 X 1 127,700
SEALED AIR CORP NEW PFD CV A $2 81211K209 173 3,420 X 1 3,420
SEARS ROEBUCK & CO COM 812387108 972 32,000 X 1 32,000
SERVICE CORP INTL COM 817565104 312 45,000 X 1 45,000
SIEBEL SYS INC COM 826170102 3,234 38,500 X 1 38,500
SMURFIT-STONE
CONTAINER CORP COM 832727101 1,186 48,400 X 1 48,400
SNAP ON INC COM 833034101 797 30,000 X 1 30,000
SOLECTRON CORP COM 834182107 5,213 54,800 X 1 54,800
SOUTHERN CO COM 842587107 1,194 50,800 X 1 50,800
SOUTHWEST AIRLS CO COM 844741108 780 48,400 X 1 48,400
PAGE TOTAL 19,576
</TABLE>
<PAGE> 43
FORM 13F NAME OF REPORTING MANAGER: 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>
SPRINT CORP COM FON GROUP 852061100 15,011 223,000 X 1 223,000
SPRINT CORP PCS COM SER 1 852061506 12,003 117,100 X 1 117,100
STAPLES INC COM 855030102 623 30,000 X 1 30,000
STATE AUTO FINL CORP COM 855707105 655 71,800 X 1 71,800
STONE & WEBSTER INC COM 861572105 232 13,800 X 1 13,800
SUN MICROSYSTEMS INC COM 866810104 44,526 575,000 X 1 575,000
SYSCO CORP COM 871829107 2,769 70,000 X 1 70,000
TCF FINL CORP COM 872275102 1,990 80,000 X 1 80,000
TV GUIDE INC CL A 87307Q109 1,548 36,000 X 1 36,000
TANDY CORP COM 875382103 3,010 61,200 X 1 61,200
PAGE TOTAL 82,367
</TABLE>
<PAGE> 44
FORM 13F NAME OF REPORTING MANAGER: 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>
TELEDYNE TECHNOLOGIES
INC COM 879360105 65 6,857 X 1 6,857
TELEPHONE & DATA
SYS INC COM 879433100 9,941 78,900 X 1 78,900
TELIGENT INC CL A 87959Y103 309 5,000 X 1 5,000
TEMPLE INLAND INC COM 879868107 2,539 38,500 X 1 38,500
TENET HEALTHCARE CORP COM 88033G100 1,454 61,879 X 1 61,879
TERADYNE INC COM 880770102 4,224 64,000 X 1 64,000
TEXACO INC COM 881694103 4,617 85,000 X 1 85,000
TEXAS INSTRS INC COM 882508104 15,160 156,900 X 1 156,900
TEXTRON INC COM 883203101 4,172 54,400 X 1 54,400
TIFFANY & CO NEW COM 886547108 3,757 42,100 X 1 42,100
PAGE TOTAL 46,238
</TABLE>
<PAGE> 45
FORM 13F NAME OF REPORTING MANAGER: 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>
TIME WARNER INC COM 887315109 23,971 331,500 X 1 331,500
TIME WARNER
TELECOM INC CL A 887319101 499 10,000 X 1 10,000
TOSCO CORP COM NEW 891490302 3,689 135,700 X 1 135,700
TOYS R US INC COM 892335100 419 29,300 X 1 29,300
TRAVELERS PPTY CAS CORP CL A 893939108 3,142 91,734 X 1 91,734
TRIBUNE CO NEW COM 896047107 4,174 75,800 X 1 75,800
TRIGON HEALTHCARE INC COM 89618L100 221 7,500 X 1 7,500
TYCO INTL LTD NEW COM 902124106 20,680 530,252 X 1 530,252
UAL CORP COM PAR $0.01 902549500 1,745 22,500 X 1 22,500
UST INC COM 902911106 1,788 71,000 X 1 71,000
PAGE TOTAL 60,328
</TABLE>
<PAGE> 46
FORM 13F NAME OF REPORTING MANAGER: 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>
US BANCORP DEL COM 902973106 2,722 114,300 X 1 114,300
USA NETWORKS INC COM 902984103 4,834 87,500 X 1 87,500
U S G CORP COM NEW 903293405 1,032 21,900 X 1 21,900
USX-U S STL COM 90337T101 2,404 72,862 X 1 72,862
ULTRAMAR DIAMOND
SHAMROCK CORP COM 904000106 622 27,400 X 1 27,400
UNILEVER N V N Y SHS NEW 904784709 5,444 100,000 X 1 100,000
UNICOM CORP COM 904911104 5,437 162,300 X 1 162,300
UNION CARBIDE CORP COM 905581104 1,936 29,000 X 1 29,000
UNION PAC CORP COM 907818108 2,755 63,069 X 1 63,069
UNION PLANTERS CORP COM 908068109 2,871 72,800 X 1 72,800
PAGE TOTAL 30,057
</TABLE>
<PAGE> 47
FORM 13F NAME OF REPORTING MANAGER: 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>
UNIONBANCAL CORP COM 908906100 3,553 90,100 X 1 90,100
UNISYS CORP COM 909214108 319 10,000 X 1 10,000
UNITED HEALTHCARE CORP COM 910581107 3,294 62,000 X 1 62,000
UNITED PARCEL
SERVICE INC CL B 911312106 863 12,500 X 1 12,500
UNITED STATES
CELLULAR CORP COM 911684108 606 6,000 X 1 6,000
U S WEST INC NEW COM 91273H101 2,700 37,500 X 1 37,500
UNITED TECHNOLOGIES
CORP COM 913017109 10,491 161,400 X 1 161,400
UNIVISION COMMUNICATIONS
INC CL A 914906102 5,692 55,700 X 1 55,700
UNUMPROVIDENT CORP COM 91529Y106 481 15,000 X 1 15,000
VALASSIS COMMUNICATIONS
INC COM 918866104 820 19,400 X 1 19,400
PAGE TOTAL 28,819
</TABLE>
<PAGE> 48
FORM 13F NAME OF REPORTING MANAGER: 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>
VALERO ENERGY CORP NEW COM 91913Y100 32 1,588 X 1 1,588
VASTAR RES INC COM 922380100 596 10,100 X 1 10,100
VERITAS SOFTWARE CO COM 923436109 21,898 153,000 X 1 153,000
VIACOM INC CL A 925524100 7,591 125,600 X 1 125,600
VIACOM INC CL B 925524308 18,210 301,302 X 1 301,302
VIGNETTE CORP COM 926734104 359 2,200 X 1 2,200
VODAFONE AIRTOUCH PLC SPONSORED ADR 92857T107 4,158 84,000 X 1 84,000
VOICESTREAM WIRELESS
CORP COM 928615103 427 3,000 X 1 3,000
VULCAN MATLS CO COM 929160109 3,578 89,600 X 1 89,600
WAL MART STORES INC COM 931142103 63,706 921,600 X 1 921,600
PAGE TOTAL 120,555
</TABLE>
<PAGE> 49
FORM 13F NAME OF REPORTING MANAGER: 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>
WALGREEN CO COM 931422109 6,154 210,400 X 1 210,400
WARNER LAMBERT CO COM 934488107 20,976 256,000 X 1 256,000
WASHINGTON MUT INC COM 939322103 3,493 135,000 X 1 135,000
WASTE MGMT INC DEL COM 94106L109 773 45,000 X 1 45,000
WEATHERFORD INTL INC COM 947074100 479 12,000 X 1 12,000
WELLPOINT HEALTH
NETWORK NEW COM 94973H108 3,620 54,900 X 1 54,900
WELLS FARGO & CO NEW COM 949746101 10,473 259,000 X 1 259,000
WESTAMERICA
BANCORPORATION COM 957090103 246 8,800 X 1 8,800
WESTERN WIRELESS CORP CL A 95988E204 1,202 18,000 X 1 18,000
WEYERHAEUSER CO COM 962166104 3,842 53,500 X 1 53,500
PAGE TOTAL 51,258
</TABLE>
<PAGE> 50
FORM 13F NAME OF REPORTING MANAGER: 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 3,578 55,000 X 1 55,000
WILLAMETTE INDS INC COM 969133107 929 20,000 X 1 20,000
WILLIAMS COMMUNICATIONS
GROUP CL A 969455104 2,928 101,200 X 1 101,200
WILLIAMS COS INC DEL COM 969457100 825 27,000 X 1 27,000
WILLIAMS SONOMA INC COM 969904101 810 17,600 X 1 17,600
WINSTAR COMMUNICATIONS
INC COM 975515107 828 11,000 X 1 11,000
WISCONSIN ENERGY CORP COM 976657106 963 50,000 X 1 50,000
XILINX INC COM 983919101 2,646 58,200 X 1 58,200
XEROX CORP COM 984121103 1,243 54,800 X 1 54,800
YAHOO INC COM 984332106 11,423 26,400 X 1 26,400
PAGE TOTAL 26,173
</TABLE>
<PAGE> 51
FORM 13F NAME OF REPORTING MANAGER: 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>
ZALE CORP NEW COM 988858106 1,214 25,100 X 1 25,100
PAGE TOTAL 1,214
GRAND TOTAL 2,890,822
</TABLE>
