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Previous: COMMAND GOVERNMENT FUND, N-30D, 1995-09-13 |
Next: PRUDENTIAL GNMA FUND INC, N-30D, 1995-09-13 |
<TABLE>
GREAT-WEST VARIABLE ANNUITY ACCOUNT A
STATEMENT OF ASSETS AND LIABILITIES
JUNE 30, 1995
(Unaudited)
<CAPTION>
Assets:
<C>
<S>
Investments, at value:
Common stock (cost - $5,065,225)
$
6,242,811
Short-term investment (cost-$597,569)
597,569
Investment income due and accrued
8,514
Cash
273,592
Due from broker
40,478
Total Assets
7,162,964
Liabilities:
Due to Great-West Life & Annuity
Insurance Company
2,314
Contract benefits payable
3,747
Total Liabilities
6,061
Net Assets
$
7,156,903
Net Assets Represented By (Units at $6.935397):
Accumulation units - 949,239
$
6,583,352
Reserves for annuities in course of payment - 3,124 units
573,551
Net Assets
$
7,156,903
</TABLE>
<TABLE>
GREAT-WEST VARIABLE ANNUITY ACCOUNT A
<S>
Statement of Operations
Six
Months Ended June 30, 1995
(Unaudited)
<CAPTION>
Investment Income:
<C>
Dividends
$
60,078
<C>
Interest
36,868
96,946
Expenses:
Administration
9,618
Mortality risks
13,005
Investment management and advisory services
15,676
Expense risks
2,312
40,611
Net Investment Income
56,335
Realized and Unrealized Gain on Investments:
Net realized gain
417,205
Net change in unrealized appreciation
438,314
Net Realized and Unrealized Gain on Investments
855,519
Net Increase in Net Assets Resulting from Operations
$
911,854
</TABLE>
<TABLE>
GREAT-WEST VARIABLE ANNUITY ACCOUNT A
Statements of Changes in Net Assets
Six Months Ended June 30, 1995 and 1994
(Unaudited)
<CAPTION>
<S> <C> <C>
From Operations:
1995
1994
<S>
Net investment income
$
56,335
$
32,369
Net realized gain
417,205
299,927
Net change in unrealized appreciation (depreciation)
438,314
(603,205)
Increase (decrease) in net assets resulting from operations
911,854
(270,909)
From Unit Share Transactions:
Surrenders
444,362
(5,529)
Annuity payments
(57,695)
(62,713)
Death payments
(204,673)
Transfer in respect of mortality guarantees
(13,888)
23,943
Increase (decrease) in net assets derived from unit
share transactions
168,106
(44,299)
Net increase (decrease) in net assets
1,079,960
(315,208)
Net Assets:
Beginning of period
6,076,943
7,235,935
End of period
$
7,156,903
$
6,920,727
</TABLE>
<TABLE>
GREAT-WEST VARIABLE ANNUITY ACCOUNT A
<S>
Notes to Financial Statements
Six Months Ended June 30, 1995 and 1994
(Unaudited)
<fn1>
NOTE 1 - HISTORY
<S>
Great-West Variable Annuity Account A (Variable Annuity Account A) is a
separate and distinct investment fund
established by The Great-West Life Assurance Company (Great-West Life).
Variable Annuity Account A is registered as an
open-end diversified management investment company under the Investment
Company Act of 1940, and the registration
under the Securities Act of 1933 of the group variable annuity contracts
funded by Variable Annuity Account A became
effective on November 27, 1968. Purchase payments were first placed in
Variable Annuity Account A on January 3, 1969.
<S>
Effective April 16, 1984, Great-West Life ceased issuing new variable
annuity contracts. Effective May 1, 1987, Great-West
Life has not allowed new participants to be enrolled under existing variable
annuity contracts and, effective May 1, 1989, no
additional contributions under existing variable annuity contracts are being
accepted.
</fn1>
</TABLE>
<TABLE>
NOTE
<fn2>
2 - SIGNIFICANT ACCOUNTING POLICIES
The cost of securities sold is determined on the basis of specific
identification.
<S>
The investment portfolio is carried at market which is established by the
final trading values on the last day of trade in the
fiscal year. Investment transactions are recorded at the earlier of trade
date or the date a commitment is made to buy or sell
the related investment.
</fn2>
<fn3>
<S>
NOTE 3 - CHARGES UNDER THE CONTRACTS
Great-West Life & Annuity Insurance Company (GWL&A), a wholly-owned
subsidiary of Great-West Life, provides
administrative, investment management, and advisory services to Variable
Annuity Account A and has assumed mortality
and expense risks of the contracts. A daily deduction of .003285%
(an effective annual rate of 1.2064%) is made from the
gross investment income of Variable Annuity Account A. This deduction,
expressed on an annual basis, is broken down as
follows: .2857% for administrative expenses, .3863% for mortality risks,
.0688% for expense risks, and .4656% for
investment management and advisory services.
</fn3>
<fn4>
NOTE 4 - INVESTMENTS
The aggregate purchases of investments and the aggregate proceeds from sales
of investments were, (excluding short-term
securities) as follows:
</TABLE>
<TABLE> <C> <C>
1995
1994
Common Stock
Purchases
$
2,221,298
$
777,777
Proceeds from sales
2,323,556
823,527
<fn5>
NOTE 5 - RELATED PARTY TRANSACTIONS
The amount due to GWL&A is settled on a quarterly basis and represents
amounts payable to GWL&A for management fees
and for reimbursement of surrenders and other payments made to participants
from accumulation values.
</fn5>
NOTES TO FINANCIAL STATEMENTS - Continued
(Unaudited)
<fn6>
NOTE 6 - FEDERAL INCOME TAXES
The Variable Annuity Account A investment income is automatically applied to
increase accumulation unit values. Under
existing federal income tax law, Variable Annuity Account A investment income
is not taxed to the extent that it is applied to
increase accumulation unit values. GWL&A reserves the right to charge the
Variable Annuity Account A if such taxes are
imposed in the future.
</fn6>
<fn7>
NOTE 7 - ACCUMULATION UNITS
</TABLE>
A summary of the transactions in accumulation units follows:
<TABLE>
<C> <C>
1995
1994
Outstanding - January 1
904,823
1,051,813
Add (Deduct)
Redeemed during the year
Surrender
76,004
(940)
Death
(31,588)
44,416
(940)
Outstanding - June 30
949,239
1,050,873
Net investment income and realized and unrealized gains are reflected in the
value of the accumulation units. Dividends are
not declared from income and gains are not distributed.
</TABLE>
GREAT-WEST VARIABLE ANNUITY ACCOUNT A
<TABLE>
<S>
Financial Highlights
(Unaudited)
<S>
Selected data for an accumulation unit for the six months ended June 30, 1995
and the years ended December 31, 1994, 1993, 1992, and 1991 were as follows:
<C> <C> <C>
<C> <C>
June 30,
Years Ended December 31,
1995
1994
1993
1992
1991
Unit Value, Beginning of Period
$
6.070
$
6.245
$
5.397
$
5.175
$
4.096
Income From Investments Operations:
Net investment income
.051
.073
.048
.052
.066
Net gains (losses) on investments
(realized and unrealized)
.814
(.248)
.800
.170
1.013
Total From Investment Operations (Note A)
.865
(.175)
.848
.222
1.079
Unit Value, End of Period
$
6.935
$
6.070
$
6.245
$
5.397
$
5.175
Total Return
16.52% *
(2.80)%
15.71%
4.29%
26.34%
Net Assets, End of Period
$
7,156,903
$
6,076,943
$
7,235,935
$
6,825,451
$
7,207,045
Ratio of Expenses to Average Net Assets
1.14% *
1.24%
1.19%
1.21%
1.20%
Ratio of Net Investment Income
to Average Net Assets
2.74% *
2.42%
2.02%
2.23%
2.65%
Portfolio Turnover Rate
38.2%
30.2%
23.4%
44.5%
66.2%
* Annualized
Note A - Net investment income and realized and unrealized gains (losses) are
reflected in the value of the accumulation units. Dividends are not
declared from
income and capital gains are not distributed.
</TABLE>
<TABLE>
GREAT-WEST VARIABLE ANNUITY ACCOUNT A
<C> <C>
<C> <C>
Accumulation Unit Values (Unaudited)
Accumulation
Accumulation
Valuation Date
Unit Value
Valuation Date
Unit Value
January 3, 1969
$1.00000000
June 30, 1981
$1.31151501
March 28, 1969
$1.07468400
September 30, 1981
$1.21957549
June 27, 1969
$1.07583259
December 31, 1981
$1.34034823
September 30, 1969
$1.04319336
March 31, 1982
$1.22060069
December 31, 1969
$1.05956294
June 30, 1982
$1.21747890
March 31, 1970
$1.05322327
September 30, 1982
$1.32107048
June 30, 1970
$ .86337212
December 31, 1982
$1.54829628
September 30, 1970
$ .98057690
March 31, 1983
$1.72492408
December 31, 1970
$1.08416020
June 30, 1983
$1.88999803
March 31, 1971
$1.28783953
September 30, 1983
$1.85391985
June 30, 1971
$1.31417688
December 31, 1983
$1.86959830
September 30, 1971
$1.34600160
March 31, 1984
$1.77987261
December 31, 1971
$1.40624309
June 30, 1984
$1.74123169
March 31, 1972
$1.50937876
September 30, 1984
$1.89436321
June 30, 1972
$1.46441659
December 31, 1984
$1.94021457
September 29, 1972
$1.41141921
March 31, 1985
$2.11639231
December 31, 1972
$1.43641768
June 30, 1985
$2.31593116
March 30, 1973
$1.14518173
September 30, 1985
$2.17502453
June 29, 1973
$ .94975920
December 31, 1985
$2.50415588
September 28, 1973
$1.12752636
March 31, 1986
$2.92575544
December 31, 1973
$ .98798465
June 30, 1986
$3.12894373
March 29, 1974
$ .92504974
September 30, 1986
$2.79849885
June 28, 1974
$ .84636772
December 31, 1986
$2.92996949
September 30, 1974
$ .69582357
March 31, 1987
$3.45357315
December 31, 1974
$ .76438983
June 30, 1987
$3.47692861
March 31, 1975
$ .85484991
September 30, 1987
$3.58107036
June 30, 1975
$ .94523691
December 31, 1987
$2.90927633
September 30, 1975
$ .86720026
March 31, 1988
$3.03211290
December 31, 1975
$ .89703274
June 30, 1988
$3.14170371
March 31, 1976
$1.02654318
September 30, 1988
$3.19555027
June 30, 1976
$1.04254066
December 31, 1988
$3.24632490
September 30, 1976
$1.02175714
March 31, 1989
$3.40048089
December 31, 1976
$1.06312535
June 30, 1989
$3.66057985
March 31, 1977
$ .96668709
September 30, 1989
$4.03595925
June 30, 1977
$ .97779837
December 31, 1989
$4.16667314
September 30, 1977
$ .91543186
March 31, 1990
$4.10420565
December 31, 1977
$ .91330430
June 30, 1990
$4.40575331
March 31, 1978
$ .88025820
September 30, 1990
$3.95067300
June 30, 1978
$ .94981303
December 31, 1990
$4.09586804
September 30, 1978
$1.02175412
March 31, 1991
$4.67731834
December 31, 1978
$ .94566769
June 30, 1991
$4.46997251
March 31, 1979
$1.03700469
September 30, 1991
$4.70629835
June 30, 1979
$1.03384794
December 31, 1991
$5.17489662
September 30, 1979
$1.07966980
March 31, 1992
$5.00089395
December 31, 1979
$1.09861144
June 30, 1992
$4.90045709
March 31, 1980
$1.02778990
September 30, 1992
$4.94334533
June 30, 1980
$1.15888482
December 31, 1992
$5.39680799
September 30, 1980
$1.24125856
March 31, 1993
$5.70268053
December 31, 1980
$1.34937658
June 30, 1993
$5.91443136
March 31, 1981
$1.34420316
September 30, 1993
$6.20352631
GREAT-WEST VARIABLE ANNUITY ACCOUNT A
<C> <C>
Accumulation Unit Values (Unaudited) - Concluded
Accumulation
<S>
Valuation Date
Unit Value
<S>
December 31, 1993
$6.24551098
March 31, 1994
$6.07099873
June 30, 1994
$5.98373289
September 30, 1994
$6.21184797
December 31, 1994
$6.07070336
March 31, 1995
$6.43386353
June 30, 1995
$6.93539739
</TABLE>
<TABLE>
MAXIM SERIES FUND, INC.
STATEMENT OF ASSETS AND LIABILITIES
JUNE 30, 1995
<C>
<C>
<C>
<C>
<C>
<C>
INVESTMENT
U.S.
GRADE
SMALL-CAP
GOVERNMENT
FOREIGN
GROWTH
CORPORATE
AGGRESSIVE
MORTGAGE
VALUE
EQUITY
INDEX
BOND
GROWTH
SECURITIES
INDEX
<CAPTION>
PORTFOLIO
PORTFOLIO
PORTFOLIO
PORTFOLIO
PORTFOLIO
PORTFOLIO
ASSETS:
Investments at value:
Short-term investments
$
6,766,299
$
1,135,000
$
2,012,000
$
2,819,628
$
30,770,919
$
1,655,000
Bonds
84,261,481
109,339,598
Common stocks
54,137,620
27,627,094
17,300,748
42,717,064
Preferred stocks
701,343
Total investments (cost $63,116,035; $24,953,599;
$84,571,125; $18,934,279; $137,371,568; $40,104,749)
61,605,262
28,762,094
86,273,481
20,120,376
140,110,517
44,372,064
Cash
148,064
17,722
Dividends and interest receivable
275,420
50,314
1,683,562
15,087
728,329
128,291
Receivables for securities sold
436,477
1,273
Total Assets
62,317,159
28,960,472
87,957,043
20,153,185
140,838,846
44,501,628
LIABILITIES:
Payables for securities purchased
27,809
35,674
15,275
24,962,471
Other liabilities
94,669
201,282
142,341
165,714
Total Liabilities
94,669
27,809
236,956
15,275
25,104,812
165,714
NET ASSETS
$
62,222,490
$
28,932,663
$
87,720,087
$
20,137,910
$
115,734,034
$
44,335,914
NET ASSETS REPRESENTED BY:
Capital stock, $.10 par value
$
6,570,894
$
2,409,992
$
6,798,432
$
1,861,169
$
10,002,884
$
3,940,796
Additional paid-in capital
57,508,342
22,704,508
80,470,652
16,783,464
106,459,071
36,074,147
Net unrealized appreciation (depreciation) on investments
(1,510,773)
3,808,495
1,702,356
1,186,097
2,738,949
4,267,315
Undistributed net investment income (loss)
(85,888)
5,447
14,873
(21,757)
318,990
26,764
Accumulated undistributed net realized gain (loss) on investments
(2,715,795)
4,221
(1,266,226)
328,937
(3,785,860)
26,892
Net unrealized appreciation on translation of
assets and liabilities denominated in foreign currencies
2,455,710
NET ASSETS
$
62,222,490
$
28,932,663
$
87,720,087
$
20,137,910
$
115,734,034
$
44,335,914
NET ASSET VALUE PER OUTSTANDING SHARE
$
0.9469
$
1.2005
$
1.2903
$
1.0820
$
1.1570
$
1.1250
SHARES OF CAPITAL STOCK:
Authorized
100,000,000
100,000,000
100,000,000
100,000,000
200,000,000
100,000,000
Outstanding
65,708,938
24,099,917
67,984,318
18,611,685
100,028,842
39,407,964
</TABLE>
<TABLE>
MAXIM SERIES FUND, INC.
<S>
STATEMENT OF OPERATIONS
<S>
SIX MONTHS ENDED JUNE 30, 1995
<C>
<C>
<C>
<C>
<C>
<C>
INVESTMENT
U.S.
GRADE
SMALL-CAP
GOVERNMENT
FOREIGN
GROWTH
CORPORATE
AGGRESSIVE
MORTGAGE
VALUE
EQUITY
INDEX
BOND
GROWTH
SECURITIES
INDEX
<CAPTION>
PORTFOLIO
PORTFOLIO
PORTFOLIO
PORTFOLIO
PORTFOLIO
PORTFOLIO
INVESTMENT INCOME:
Interest
$
262,454
$
26,984
$
2,700,960
$
75,837
$
4,115,266
$
32,301
Dividends
795,354
169,935
80,524
637,811
Total income
1,057,808
196,919
2,700,960
156,361
4,115,266
670,112
EXPENSES:
Salaries
41,029
4,795
Legal
8,742
2,453
Directors' fees
394
122
Accounting
4,000
2,500
Bank and custodial fees
67,388
25,570
Other expenses
15,381
3,022
Foreign withholding tax
76,441
231
Management fee
264,655
61,551
236,749
80,795
312,740
102,777
Total expenses
478,030
61,551
236,749
119,488
312,740
102,777
Less amount paid by The Great-West Life
Assurance Company
4,605
14,222
Net expenses
473,425
61,551
236,749
105,266
312,740
102,777
NET INVESTMENT INCOME
584,383
135,368
2,464,211
51,095
3,802,526
567,335
REALIZED AND UNREALIZED GAIN (LOSS)
ON INVESTMENTS
Net realized gain (loss) on investments
(2,065,757)
36,476
(194,833)
363,823
1,578,057
30,519
Change in net unrealized appreciation (depreciation)
on investments
(1,285,520)
3,531,401
5,785,193
1,386,659
4,086,338
5,205,085
Change in net unrealized appreciation on translation of
assets and liabilities denominated in foreign currencies
3,275,107
Net change in realized and unrealized appreciation
(depreciation) on investments
(76,170)
3,567,877
5,590,360
1,750,482
5,664,395
5,235,604
NET INCREASE IN NET ASSETS
RESULTING FROM OPERATIONS
$
508,213
$
3,703,245
$
8,054,571
$
1,801,577
$
9,466,921
$
5,802,939
See notes to financial statements
</TABLE>
<TABLE>
MAXIM SERIES FUND, INC.
<S>
STATEMENTS OF CHANGES IN NET ASSETS
<S>
SIX MONTHS ENDED JUNE 30, 1995 AND 1994
<C>
<C>
<C>
<C>
FOREIGN
INVESTMENT GRADE
EQUITY
GROWTH INDEX
CORPORATE BOND
<CAPTION>
PORTFOLIO
PORTFOLIO
PORTFOLIO
1995
1995
1994
1995
1994
INCREASE IN NET ASSETS:
OPERATIONS:
Net investment income
$
584,383
$
135,369
$
46,490
$
2,464,211
$
1,638,147
Net realized gain (loss)
(2,065,757)
36,476
219
(194,833)
(43,353)
Change in net unrealized appreciation (depreciation)
(1,285,520)
3,531,401
(377,633)
5,785,193
(3,709,151)
Change in net unrealized appreciation on translation
of assets and liabilities denominated in foreign currencies
3,275,107
Net increase (decrease) in net assets resulting from operations
508,213
3,703,246
(330,924)
8,054,571
(2,114,357)
DISTRIBUTIONS TO SHAREHOLDERS:
From net investment income
(586,640)
(129,922)
(46,325)
(2,449,338)
(1,628,544)
Total distributions
(586,640)
(129,922)
(46,325)
(2,449,338)
(1,628,544)
SHARE TRANSACTIONS:
Net proceeds from sales of shares
36,735,552
14,484,920
5,862,829
27,856,256
24,970,902
Reinvestment of distributions
586,640
129,922
46,325
2,449,338
1,628,544
Cost of shares redeemed
(17,781,888)
(3,426,810)
(741,709)
(19,467,034)
(20,795,559)
Net increase in net assets resulting from
share transactions
19,540,304
11,188,032
5,167,445
10,838,560
5,803,887
Total increase in net assets
19,461,877
14,761,356
4,790,196
16,443,793
2,060,986
NET ASSETS:
Beginning of period
42,760,613
14,171,307
3,099,916
71,276,294
63,585,296
End of period
$
62,222,490
$
28,932,663
$
7,890,112
$
87,720,087
$
65,646,282
OTHER INFORMATION:
SHARES:
Sold
39,009,955
13,052,801
5,329,192
22,303,725
13,162,323
Issued in reinvestment of distributions
627,798
112,367
48,425
1,952,244
1,289,227
Redeemed
(18,869,505)
(3,068,370)
(134,190)
(15,576,057)
(9,810,866)
Net increase
20,768,248
10,096,798
5,243,427
8,679,912
4,640,684
See notes to financial statements.
</TABLE>
<TABLE>
MAXIM SERIES FUND, INC.
<S>
STATEMENTS OF CHANGES IN NET ASSETS
<S>
SIX MONTHS ENDED JUNE 30, 1995 AND 1994
<C>
<C>
<C>
<C>
SMALL-CAP
AGGRESSIVE
U.S. GOVERNMENT
GROWTH
MORTGAGE SECURITIES
VALUE INDEX
PORTFOLIO
PORTFOLIO
PORTFOLIO
1995
1995
1994
1995
1994
<CAPTION>
INCREASE IN NET ASSETS:
OPERATIONS:
Net investment income
$
51,095
$
3,802,527
$
1,658,030
$
567,335
$
140,610
Net realized gain (loss)
363,823
1,578,057
(2,812,053)
30,519
4,122
Change in net unrealized appreciation (depreciation)
1,386,659
4,086,338
(1,603,000)
5,205,085
(588,009)
Change in net unrealized appreciation on translation
of assets and liabilities denominated in foreign currencies
Net increase (decrease) in net assets resulting from operations
1,801,577
9,466,922
(2,757,023)
5,802,939
(443,277)
DISTRIBUTIONS TO SHAREHOLDERS:
From net investment income
(51,187)
(3,483,537)
(1,645,244)
(540,571)
(140,172)
Total distributions
(51,187)
(3,483,537)
(1,645,244)
(540,571)
(140,172)
SHARE TRANSACTIONS:
Net proceeds from sales of shares
9,140,291
33,925,738
30,913,533
20,430,326
12,798,736
Reinvestment of distributions
51,187
3,483,538
1,645,244
540,571
140,172
Cost of shares redeemed
(3,767,367)
(21,044,993)
(20,023,239)
(7,507,825)
(1,250,469)
Net increase in net assets resulting from
share transactions
5,424,111
16,364,283
12,535,538
13,463,072
11,688,439
Total increase in net assets
7,174,501
22,347,668
8,133,271
18,725,440
11,104,990
NET ASSETS:
Beginning of period
12,963,409
93,386,366
77,052,883
25,610,474
4,337,142
End of period
$
20,137,910
$
115,734,034
$
85,186,154
$
44,335,914
$
15,442,132
OTHER INFORMATION:
SHARES:
Sold
8,960,816
29,995,597
20,937,770
19,342,626
11,785,242
Issued in reinvestment of distributions
49,251
3,076,297
1,684,722
496,407
143,817
Redeemed
(3,687,938)
(18,588,162)
(11,694,624)
(7,069,893)
(297,380)
Net increase
5,322,129
14,483,732
10,927,868
12,769,140
11,631,679
</TABLE>
<TABLE>
MAXIM SERIES FUND, INC.
<S>
FOREIGN EQUITY PORTFOLIO
<S>
FINANCIAL HIGHLIGHTS
<captaion>
Selected data for a share of capital stock of the portfolio for the six
months ended June 30, 1995 and the period ended
December 31, 1994 were as follows:
<C>
<C>
Six Months
Ended
Period Ended
June 30,
December 31,
1995
1994
(A)
Net Asset Value, Beginning of Period
$
0.9515
$
1.0000
Income From Investment Operations
Net investment income (loss)
0.0102
(0.0019)
Net realized and unrealized (loss)
(0.0052)
(0.0466)
Total Income (Loss) From Investment Operations
0.0050
(0.0485)
Less Distributions
From net investment income
(0.0096)
Total Distributions
(0.0096)
Net Asset Value, End of Period
$
0.9469
$
0.9515
Total Return
2.59% *
(4.85)% *
Net Assets, End of Period
$
62,222,490
$
42,760,613
Ratio of Expenses to Average Net Assets
1.50% * #
1.50% * #
Ratio of Net Investment Income to Average Net Assets
1.08% *
(1.26)% *
Portfolio Turnover Rate
65.66%
19.85%
* Annualized
(A) The portfolio commenced operations on November 1, 1994.
# Percentage is shown net of expenses reimbursed by The Great-West Life
Assurance Company.
(Continued)
MAXIM SERIES FUND, INC.
INVESTMENT GRADE CORPORATE BOND PORTFOLIO
FINANCIAL HIGHLIGHTS
Selected data for a share of capital stock of the portfolio for the six
months ended June 30, 1995 and the periods ended
December 31, 1994, 1993 and 1992 were as follows:
<C>
Six Months
Ended
<C>
<C>
June 30,
Period Ended December 31,
1995
1994
1993
1992
(A)
Net Asset Value, Beginning of Period
$
1.2019
1.3090
$
1.2957
$
1.0000
Income From Investment Operations
Net investment income
0.0385
0.0665
0.0691
0.0058
Net realized and unrealized gain (loss)
0.0882
(0.1071)
0.0452
0.2957
Total Income (Loss) From Investment Operations
0.1267
(0.0406)
0.1143
0.3015
Less Distributions
From net investment income
(0.0383)
(0.0665)
(0.0686)
(0.0058)
From net realized gains
(0.0324)
Total Distributions
(0.0383)
(0.0665)
(0.1010)
(0.0058)
Net Asset Value, End of Period
$
1.2903
$
1.2019
$
1.3090
$
1.2957
Total Return
23.09% *
(3.15)%
8.95%
29.57% *
Net Assets, End of Period
$
87,720,087
$
71,276,294
$
63,585,296
$
49,607,522
Ratio of Expenses to Average Net Assets
0.60% *
0.60%
0.60%
0.59%*
Ratio of Net Investment Income to Average Net Assets
6.24% *
5.37%
5.13%
4.71%*
Portfolio Turnover Rate
75.44%
51.66%
151.14%
23.91%
(A) The portfolio commenced operations on November 1, 1992.
* Annualized
(Continued)
MAXIM SERIES FUND, INC.
GROWTH INDEX PORTFOLIO
FINANCIAL HIGHLIGHTS
Selected data for a share of capital stock of the portfolio for the six
months ended June 30, 1995 and the periods
ended December 31, 1994 and 1993 were as follows:
<C>
<C>
<C>
Six Months
Ended
June 30,
Period Ended December 31,
1995
1994
1993
(A)
Net Asset Value, Beginning of Period
$
1.0120
$
1.0064
$
1.0000
Income From Investment Operations
Net investment income
0.0064
0.0133
0.0015
Net realized and unrealized gain
0.1883
0.0056
0.0064
Total Income From Investment Operations
0.1947
0.0189
0.0079
Less Distributions
From net investment income
(0.0062)
(0.0133)
(0.0015)
Total Distributions
(0.0062)
(0.0133)
(0.0015)
Net Asset Value, End of Period
$
1.2005
$
1.0120
$
1.0064
Total Return
42.84% *
1.93%
.79% *
Net Assets, End of Period
$
28,932,663
$
14,171,307
$
3,099,916
Ratio of Expenses to Average Net Assets
0.60% *
0.60%
0.59%*
Ratio of Net Investment Income to Average Net Assets
1.30% *
1.57%
1.98%*
Portfolio Turnover Rate
1.60%
18.50%
0.06%
* Annualized
(A) The portfolio commenced operations on December 1, 1993.
(Continued)
MAXIM SERIES FUND, INC.
SMALL-CAP AGGRESSIVE GROWTH PORTFOLIO
FINANCIAL HIGHLIGHTS
Selected data for a share of capital stock of the portfolio for the six
months ended June 30, 1995 and the period
ended December 31, 1994 were as follows:
<C>
<C>
Six Months
Ended
Period Ended
June 30,
December 31,
1995
1994
(A)
Net Asset Value, Beginning of Period
$
0.9755
$
1.0000
Income From Investment Operations
Net investment income (loss)
0.0036
(0.0016)
Net realized and unrealized gain (loss)
0.1060
(0.0229)
Total Income (Loss) From Investment Operations
0.1096
(0.0245)
Less Distributions
From net investment income
(0.0031)
Total Distributions
(0.0031)
Net Asset Value, End of Period
$
1.0820
$
0.9755
Total Return
25.08% *
(2.46)% *
Net Assets, End of Period
$
20,137,910
$
12,963,409
Ratio of Expenses to Average Net Assets
1.50% * #
1.26% * #
Ratio of Net Investment Income to Average Net Assets
0.64% *
(1.08)% *
Portfolio Turnover Rate
50.19%
8.84%
* Annualized
(A) The portfolio commenced operations on November 1, 1994.
# Percentage is shown net of expenses reimbursed by The Great-West Life
Assurance Company.
(Continued)
MAXIM SERIES FUND, INC.
U.S. GOVERNMENT MORTGAGE SECURITIES PORTFOLIO
FINANCIAL HIGHLIGHTS
Selected data for a share of capital stock of the portfolio for the six
months ended June 30, 1995 and the periods ended
December 31, 1994, 1993 and 1992 were as follows:
<C>
<C>
<C>
<C>
Six Months
Ended
June 30,
Year Ended December 31,
1995
1994
1993
1992
(A)
Net Asset Value, Beginning of Period
$
1.0917
$
1.1813
$
1.1503
$
1.0000
Income From Investment Operations
Net investment income
0.0406
0.0620
0.0788
0.0029
Net realized and unrealized gain (loss)
0.0621
(0.0896)
0.0315
0.1598
Total Income (Loss) From Investment Operations
0.1027
(0.0276)
0.1103
0.1627
Less Distributions
From net investment income
(0.0374)
(0.0620)
(0.0788)
(0.0029)
From net realized gains
(0.0005)
(0.0095)
Total Distributions
(0.0374)
(0.0620)
(0.0793)
(0.0124)
Net Asset Value, End of Period
$
1.1570
$
1.0917
$
1.1813
$
1.1503
Total Return
20.58% *
(2.34)%
9.65%
15.03% *
Net Assets, End of Period
$
115,734,034
$
93,386,366
$
77,052,883
$
28,107,848
Ratio of Expenses to Average Net Assets
0.60% *
0.60%
0.60%
0.59%*
Ratio of Net Investment Income to Average Net Assets
7.28% *
5.67%
8.12%
3.16%*
Portfolio Turnover Rate
141.27%
331.42%
17.78%
33.52%
(A) The portfolio commenced operations on November 1, 1992.
* Annualized
(Continued)
MAXIM SERIES FUND, INC.
VALUE INDEX PORTFOLIO
FINANCIAL HIGHLIGHTS
Selected data for a share of capital stock of the portfolio for the six
months ended June 30, 1995 and the periods
ended December 31, 1994 and 1993 were as follows:
<C>
<C>
<C>
Six Months
Ended
June 30,
Period Ended December 31,
1995
1994
1993
(A)
Net Asset Value, Beginning of Period
$
0.9614
$
1.0118
$
1.0000
Income From Investment Operations
Net investment income
0.0158
0.0253
0.0014
Net realized and unrealized gain (loss)
0.1629
(0.0504)
0.0119
Total Income (Loss) From Investment Operations
0.1787
(0.0251)
0.0133
Less Distributions
From net investment income
(0.0151)
(0.0253)
(0.0014)
From net realized gains
(0.0001)
Total Distributions
(0.0151)
(0.0253)
(0.0015)
Net Asset Value, End of Period
$
1.1250
$
0.9614
$
1.0118
Total Return
41.41% *
(2.49)%
1.32% *
Net Assets, End of Period
$
44,335,914
$
25,610,474
$
4,337,142
Ratio of Expenses to Average Net Assets
0.60% *
0.60%
0.59%*
Ratio of Net Investment Income to Average Net Assets
3.30% *
3.18%
2.11%*
Portfolio Turnover Rate
1.18%
16.88%
8.99%
* Annualized
(A) The portfolio commenced operations on December 1, 1993.
(Concluded)
</TABLE>
<TABLE>
MAXIM SERIES FUND, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
SIX MONTHS ENDED JUNE 30, 1995 AND 1994
<fn1>
1. HISTORY OF THE FUND
Maxim Series Fund, Inc. (the Fund) is a Maryland corporation organized on
December 7, 1981 as a diversified
open-end management investment company. Interests in the Foreign Equity,
Growth Index, Investment Grade
Corporate Bond, Small-Cap Aggressive Growth, U.S. Government Mortgage
Securities, and Value Index Portfolios
(the Portfolios) are represented by separate classes of beneficial interest
of the Fund. Shares of the Fund are sold
only to FutureFunds Series Account II, Qualified Series Account, and
Retirement Plan Series Account of Great-
West Life & Annuity Insurance Company (the Company), to fund benefits under
variable annuity contracts issued
by the Company and to the TNE Series (k) Account of The New England Mutual
Life Assurance Company (TNE)
to fund benefits under variable annuity contracts issued by TNE. The shares
are sold at a price equal to the
respective net asset value per share of each class of shares.
Initial capitalization of $100,000 for the Fund was received on February 25,
1982 from The Great-West Life
Assurance Company (Great-West) (parent of the Company). At June 30, 1995,
Great-West's investment in the
Portfolios totaled $4,907,796.
</fn1>
<fn2>
2. SIGNIFICANT ACCOUNTING POLICIES
The following is a summary of the significant accounting policies of the
Fund, which are in accordance with the
accounting principles generally accepted in the investment company industry:
Security Transactions
Security transactions are recorded at the earlier of trade date or the date
a commitment is made to buy or sell the
related investment. The cost of investments sold is determined on the basis
of average cost. Dividends from
investment income of the Investment Grade Corporate Bond and the U.S.
Government Mortgage Securities
Portfolios are declared and reinvested monthly. Dividends from investment
income of the Foreign Equity, Growth
Index, Small-Cap Aggressive Growth, and the Value Index Portfolios are
declared and reinvested quarterly.
The U.S. Government Mortgage Securities Portfolio may enter into repurchase
agreements which settle at a
specified future date. Amounts owing to brokers under these agreements are
included in Payables for Investments
Purchased in the accompanying financial statements. These liabilities were
$29,954,123 and $50,761,369 at June
30, 1995 and June 30, 1994, respectively, and are collateralized by
securities of approximately the same value.
Security Valuation
Securities traded on national securities exchanges are valued at the
closing prices of the securities on these
exchanges at year-end, and securities traded on over-the-counter markets are
valued at the average between the
quoted bid and asked prices at year-end. Short-term securities are valued at
amortized cost which approximates
market value.
Dividend income for the Portfolios is accrued as of the ex-dividend date and
interest income is recorded daily.
Foreign Currency Translation
The accounting records of the Foreign Equity Portfolio are maintained in
U.S. dollars. Investment securities, other
assets and liabilities denominated in a foreign currency are translated into
U.S. dollars at the current exchange rate.
Purchases and sales of securities, income receipts and expense payments are
translated into U.S. dollars at the
exchange rate on the dates of the transactions.
The Foreign Equity Portfolio isolates that portion of the results of
operations resulting from changes in foreign
exchange rates from the fluctuations arising from changes in market prices of
securities held.
Reported net realized foreign exchange gains or losses arise from sales of
portfolio securities, sales and maturities of
short-term securities, and currency gains or losses realized between the
amounts of dividends, interest, and foreign
withholding taxes recorded by the Foreign Equity Portfolio, and the U.S.
dollar equivalent of the amounts actually
received or paid. Net unrealized foreign exchange gains and losses arise
from changes in the value of assets and
liabilities including investments in securities at fiscal year end, resulting
from changes in the exchange rate.
Federal Income Taxes
For federal income tax purposes, each Portfolio of the Fund qualifies as a
regulated investment company under the
provisions of the Internal Revenue Code by distributing substantially all of
its taxable net income (both ordinary
income and capital gains) to its shareholders and complying with the
requirements for regulated investment
companies. Accordingly, no provision for federal income taxes has been made.
</fn2>
<fn3>
3. INVESTMENT ADVISORY AGREEMENT
The Fund has entered into an investment advisory agreement with Great-West.
As compensation for its services to
the Fund, the investment advisor receives monthly compensation at the annual
rate of .60% of the average daily net
assets of the Growth Index Portfolio, Investment Grade Corporate Bond
Portfolio, U.S. Government Mortgage
Securities Portfolio, and Value Index Portfolio and 1.00% of the average
daily net assets of the Foreign Equity
Portfolio and Small-Cap Aggressive Growth Portfolio. With respect to the
Foreign Equity Portfolio, and Small-Cap
Aggressive Growth Portfolio, the Fund shall pay all expenses incurred in its
operation of these portfolios. However,
Great-West shall pay any expenses of the Fund which exceed an annual rate of 1
.50% and 1.30% of the average
daily net assets of the Foreign Equity and Small-Cap Aggressive Growth
Portfolios, respectively.
</fn3>
<fn4>
4. PURCHASES AND SALES OF SECURITIES
Costs of purchases of U.S. Government obligations and other securities,
excluding short-term investments, during
the six months ended June 30, 1995 were:
U.S. Government Obligations
Other Securities
Portfolio
Foreign Equity
$
0
$
48,769,955
Growth Index
0
10,769,650
Investment Grade Corporate Bond
2,090,313
69,510,452
Small-Cap Aggressive Growth
0
11,521,405
U.S. Government Mortgage Securities
153,125,536
0
Value Index
0
13,093,134
The proceeds from sales of U.S. Government obligations and other securities,
excluding short-term investments,
during the six months ended June 30, 1995 were:
U.S. Government Obligations
Other Securities
Portfolio
Foreign Equity
$
0
$
29,222,542
Growth Index
0
322,040
Investment Grade Corporate Bond
7,907,031
47,919,846
Small-Cap Aggressive Growth
0
6,973,797
U.S. Government Mortgage Securities
140,160,185
0
Value Index
0
398,185
</fn4>
<fn5>
5. UNREALIZED APPRECIATION (DEPRECIATION)
Gross unrealized appreciation (depreciation) of securities is as follows
as of June 30, 1995:
INVESTMENT
U.S.
GRADE
SMALL-CAP
GOVERNMENT
FOREIGN
GROWTH
CORPORATE
AGGRESSIVE
MORTGAGE
VALUE
EQUITY
INDEX
BOND
GROWTH
SECURITIES
INDEX
PORTFOLIO
PORTFOLIO
PORTFOLIO
PORTFOLIO
PORTFOLIO
PORTFOLIO
<S>
Gross appreciation
$
2,306,587
$
4,093,688
$
2,193,599
$
1,923,925
$
3,097,541
$
4,635,648
<S>
Gross depreciation
3,817,360
285,193
491,243
737,828
358,592
368,333
Net unrealized appreciation
<C>
(depreciation)
$
(1,510,773)
$
3,808,495
$
1,702,356
$
1,186,097
$
2,738,949
$
4,267,315
</fn5>
</TABLE>
<TABLE>
FUTUREFUNDS SERIES ACCOUNT OF
<S>
GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY
<S>
STATEMENT OF NET ASSETS
JUNE 30, 1995
(Unaudited)
<C>
<C>
<C>
Shares
Cost
Value
<CAPTION>
ASSETS:
Investments in Mutual Funds:
Affiliated:
Maxim Series Fund, Inc. - Money Market
36,741,841
$
36,761,710
$
36,766,705
Maxim Series Fund, Inc. - Bond
42,419,522
51,849,460
51,522,399
Maxim Series Fund, Inc. - Corporate Bond
420,863
455,646
467,158
Maxim Series Fund, Inc. - INVESCO ADR
84,318
85,946
86,848
Maxim Series Fund, Inc. - INVESCO Small-Cap Growth
649,514
710,519
746,941
Maxim Series Fund, Inc. - Mid-Cap
13,368,813
14,221,906
15,696,373
Maxim Series Fund, Inc. - Stock Index
138,118,050
189,691,967
244,545,628
Maxim Series Fund, Inc. - Small-Cap Index
2,565,543
2,491,529
2,759,883
Maxim Series Fund, Inc. - Small-Cap Value
81,859
82,777
85,133
Maxim Series Fund, Inc. - T. Rowe Price Equity/Income
1,990,437
2,110,661
2,209,385
Maxim Series Fund, Inc. - U.S. Government Securities
30,001,388
33,916,198
32,353,540
Maxim Series Fund, Inc. - International Equity
15,216,478
16,291,258
16,948,185
Maxim Series Fund, Inc. - Total Return
1,159,971
1,352,242
1,453,168
Unaffiliated:
TCI Portfolios, Inc. - TCI Growth
5,689,631
50,930,718
62,529,040
TCI Portfolios, Inc. - TCI Balanced
5,308,104
31,386,764
35,245,809
Fidelity Investments - Variable Insurance Products
401,811
8,758,509
10,728,361
Fund - Growth
Fidelity Investments - Variable Insurance Products
732,901
10,261,418
10,502,472
Fund II - Asset Manager
Total investments
$
451,359,228
524,647,028
Other assets and liabilities:
Premiums due and accrued
10,266,876
Due to Great-West Life & Annuity Insurance Company
(144,003)
Other liabilities
(1,600)
NET ASSETS APPLICABLE TO OUTSTANDING UNITS OF CAPITAL (Note 5)
$
534,768,301
<FN>
See notes to financial statements.
</TABLE>
<TABLE>
FUTUREFUNDS SERIES ACCOUNT OF
GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY
<S>
STATEMENT OF OPERATIONS
<S>
SIX MONTHS ENDED JUNE 30, 1995
(Unaudited)
<C>
<C>
<C>
<C>
<C>
<C>
<C>
<C>
<C>
INVESCO
Corporate
INVESCO
Small-Cap
Stock
Small-Cap
Small-Cap
Money Market
Bond
Bond
ADR
Growth
Mid-Cap
Index
Index
Value
Investment
Investment
Invesment
Investment
Investment
Investment
Investment
Investment
Investment
Division
Division
Division
Division
Division
Division
Division
Division
Division
<CAPTION>
INVESTMENT INCOME
$
1,011,053
$
1,480,145
$
5,712
$
526
$
2,707
$
12,029
$
2,267,335
$
14,075
$
805
EXPENSES-mortality
and
expense risks (Note 3)
224,228
306,236
732
184
1,850
76,598
1,393,527
13,044
194
NET INVESTMENT INCOME (LOSS)
786,825
1,173,909
4,980
342
857
(64,569)
873,808
1,031
611
REALIZED AND UNREALIZED
GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) on investments
0
(51,011)
118
(25)
65
(269)
211,717
412
311
Net change in unrealized appreciation
on investments
0
3,368,412
11,512
902
36,422
938,378
37,152,255
272,179
2,143
NET REALIZED AND UNREALIZED
GAIN ON INVESTMENTS
0
3,317,401
11,630
877
36,487
938,109
37,363,972
272,591
2,454
NET INCREASE IN NET ASSETS
RESULTING FROM OPERATIONS
$
786,825
$
4,491,310
$
16,610
$
1,219
$
37,344
$
873,540
$
38,237,780
$
273,622
$
3,065
</TABLE>
<TABLE>
FUTUREFUNDS SERIES ACCOUNT OF
GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY
<S>
STATEMENT OF OPERATIONS
<S>
SIX MONTHS ENDED JUNE 30, 1995
(unaudited)
<C>
<C>
<C>
<C>
<C>
<C>
U.S.
<C>
<C>
<C>
<C>
T. Rowe Price
Government
International
Total
TCI
TCI
VIP
VIP
Equity/Income
Securities
Equity
Return
Growth
Balanced
Growth
Asset Manager
Total
<captopn>
Investment
Investment
Investment
Investment
Investment
Investment
Investment
Investment
FutureFunds
Division
Division
Division
Division
Division
Division
Division
Division
Series
INVESTMENT INCOME
$
24,431
$
1,001,741
$
247,433
$
22,831
$
58,776
$
351,803
$
33,828
$
165,467
$
6,700,697
EXPENSES-mortality and
expense risks (Note 3)
6,531
188,949
89,571
6,596
342,188
203,424
47,607
56,435
2,957,894
NET INVESTMENT INCOME (LOSS)
17,900
812,792
157,862
16,235
(283,412)
148,379
(13,779)
109,032
3,742,803
REALIZED AND UNREALIZED
GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) on investments
(7)
11,112
305
200
8,669
18,919
(27)
485
200,974
Net change in unrealized appreciation
on investments
99,402
1,853,812
686,446
118,199
10,001,473
3,575,890
1,776,857
401,934
60,296,216
NET REALIZED AND UNREALIZED
GAIN ON INVESTMENTS
99,395
1,864,924
686,751
118,399
10,010,142
3,594,809
1,776,830
402,419
60,497,190
NET INCREASE IN NET ASSETS
RESULTING FROM OPERATIONS
$
117,295
$
2,677,716
$
844,613
$
134,634
$
9,726,730
$
3,743,188
$
1,763,051
$
511,451
$
64,239,993
</TABLE>
<TABLE>
FUTUREFUNDS SERIES ACCOUNT OF
GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY
<S>
STATEMENTS OF CHANGES IN NET ASSETS
<S>
SIX MONTHS ENDED JUNE 30, 1995 AND 1994
(Unaudited)
<C>
<C>
<C>
Money Market
Bond
Bond
Investment
Investment
Investment
<CAPTION>
Division
Division
Division (I)
1995
1994
1995
1994
1995
FROM OPERATIONS:
Net investment income
$
786,825
$
185,290
$
1,173,909
$
1,071,198
$
4,980
Net realized gain (loss) on investments
(51,011)
(6,889)
118
Net change in unrealized appreciation
(depreciation) on investments
3,368,412
(3,017,917)
11,512
Increase (decrease) in net assets
resulting from operations
786,825
185,290
4,491,310
(1,953,608)
16,610
FROM UNIT TRANSACTIONS:
Variable annuity contract:
Purchase payments
4,876,033
4,505,291
3,677,429
4,632,684
38,841
Redemptions
(3,486,387)
(2,150,199)
(3,609,383)
(2,114,733)
Net transfers from (to) other
annuity contracts
1,667,722
10,170,317
(831,324)
(1,059,575)
424,764
Increase (decrease) in net assets
resulting from unit transactions
3,057,368
12,525,409
(763,278)
1,458,376
463,605
INCREASE(DECREASE) IN NET ASSETS
3,844,193
12,710,699
3,728,032
(495,232)
480,215
NET ASSETS:
Beginning of period
37,018,675
10,847,035
48,114,156
54,642,256
End of period
$
40,862,868
$
23,557,734
$
51,842,188
$
54,147,024
$
480,215
(I) The Investment Division commenced operation on February 2, 1995.
</TABLE>
<TABLE>
FUTUREFUNDS SERIES ACCOUNT OF
GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY
<S>
STATEMENTS OF CHANGES IN NET ASSETS
<S>
SIX MONTHS ENDED JUNE 30, 1995 AND 1994
(Unaudited)
<C>
<C>
INVESCO
INVESCO
Small-Cap
<C>
ADR
Growth
Mid-Cap
Investment
Investment
Investment
<CAPTION>
Division (G)
Division (H)
Division (B)
1995
1995
1995
1994
FROM OPERATIONS:
Net investment income (loss)
$
342
$
857
$
(64,569)
$
1,097
Net realized gain (loss) on investments
(25)
65
(269)
Net change in unrealized appreciation
(depreciation) on investments
902
36,422
938,378
(22,489)
Increase (decrease) in net assets
resulting from operations
1,219
37,344
873,540
(21,392)
FROM UNIT TRANSACTIONS:
Variable annuity contract:
Purchase payments
11,120
94,553
2,929,617
59,658
Redemptions
(143,304)
(10,186)
Net transfers from other
annuity contracts
74,726
638,110
3,664,403
836,517
Increase in net assets
resulting from unit transactions
85,846
732,663
6,450,716
885,989
INCREASE IN NET ASSETS
87,065
770,007
7,324,256
864,597
NET ASSETS:
Beginning of period
8,648,286
End of period
$
87,065
$
770,007
$
15,972,542
$
864,597
(B) The Investment Division commenced operations on April 13, 1994.
(G) The Investment Division commenced operations on January 5, 1995.
(H) The Investment Division commenced operations on January 9, 1995.
</TABLE>
<TABLE>
FUTUREFUNDS SERIES ACCOUNT OF
GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY
<S>
STATEMENTS OF CHANGES IN NET ASSETS
<S>
SIX MONTHS ENDED JUNE 30, 1995 AND 1994
(Unaudited)
<C>
<C>
<C>
Small-Cap
Stock Index
Index
Value
Investment
Investment
Investment
<CAPTION>
Division
Division (A)
Division (E)
1995
1994
1995
1994
1995
FROM OPERATIONS:
Net investment income
$
873,808
$
1,162,287
$
1,031
$
337
$
611
Net realized gain (loss) on investments
211,717
(4,554)
412
311
Net change in unrealized appreciation
(depreciation) on investments
37,152,255
(14,528,320)
272,179
(8,262)
2,143
Increase (decrease) in net assets
resulting from operations
38,237,780
(13,370,587)
273,622
(7,925)
3,065
FROM UNIT TRANSACTIONS:
Variable annuity contract:
Purchase payments
11,429,352
22,479,063
397,018
14,894
4,909
Redemptions
(7,370,437)
(6,819,610)
(42,045)
(1,213)
Net transfers from (to) other
annuity contracts
(2,910,774)
6,318,171
702,729
260,132
77,233
Increase in net assets
resulting from unit transactions
1,148,141
21,977,624
1,057,702
273,813
82,142
INCREASE IN NET ASSETS
39,385,921
8,607,037
1,331,324
265,888
85,207
NET ASSETS:
Beginning of period
207,183,447
257,422,564
1,449,379
End of period
$
246,569,368
$
266,029,601
$
2,780,703
$
265,888
$
85,207
(A) The Investment Division commenced operations on March 15, 1994.
(E) The Investment Division commenced operations on November 4, 1994.
</TABLE>
<TABLE>
FUTUREFUNDS SERIES ACCOUNT OF
GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY
<S>
STATEMENTS OF CHANGES IN NET ASSETS
<S>
SIX MONTHS ENDED JUNE 30, 1995 AND 1994
(Unaudited)
<C>
T. Rowe Price
<C>
U.S. Government
<C>
International
Equity/Income
Securities
Equity
Investment
Investment
Investment
<CAPTION>
Division (F)
Division
Division (B)
1995
1995
1994
1995
1994
FROM OPERATIONS:
Net investment income (loss)
$
17,900
$
812,792
$
460,098
$
157,862
$
(1,332)
Net realized gain (loss) on investments
(7)
11,112
(6,091)
305
(24)
Net change in unrealized appreciation
(depreciation) on investments
99,402
1,853,812
(1,815,312)
686,446
(30,193)
Increase (decrease) in net assets
resulting from operations
117,295
2,677,716
(1,361,305)
844,613
(31,549)
FROM UNIT TRANSACTIONS:
Variable annuity contract:
Purchase payments
290,733
2,968,913
4,030,488
2,961,689
79,041
Redemptions
(10,635)
(1,082,922)
(1,111,260)
(226,803)
(15,920)
Net transfers from (to) other
annuity contracts
1,764,527
(826,597)
6,773,242
2,341,414
1,681,222
Increase in net assets
resulting from unit transactions
2,044,625
1,059,394
9,692,470
5,076,300
1,744,343
INCREASE IN NET ASSETS
2,161,920
3,737,110
8,331,165
5,920,913
1,712,794
NET ASSETS:
Beginning of period
163,220
29,539,213
21,210,922
11,286,390
End of period
$
2,325,140
$
33,276,323
$
29,542,087
$
17,207,303
$
1,712,794
(B) The Investment Division commenced operations on April 13, 1994.
(F) The Investment Division commenced operations on November 9, 1994.
</TABLE>
<TABLE>
FUTUREFUNDS SERIES ACCOUNT OF
GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY
<S>
STATEMENTS OF CHANGES IN NET ASSETS
<S>
SIX MONTHS ENDED JUNE 30, 1995 AND 1994
(Unaudited)
<C>
<C>
TCI
<C>
TCI
<CAPTION>
Total Return
Investment Division (C)
Growth
Investment Division
Balanced
Investment Division
1995
1994
1995
1994
1995
1994
FROM OPERATIONS:
Net investment income (loss)
$
16,235
$
374
$
(283,412)
$
(247,921)
$
148,379
$
130,815
Net realized gain (loss) on investments
200
8,669
(393)
18,919
(107)
Net change in unrealized appreciation
(depreciation) on investments
118,199
(1,254)
10,001,473
(3,272,176)
3,575,890
(1,026,744)
Increase (decrease) in net assets
resulting from operations
134,634
(880)
9,726,730
(3,520,490)
3,743,188
(896,036)
FROM UNIT TRANSACTIONS:
Variable annuity contract:
Purchase payments
168,501
1,379
6,203,093
7,471,586
3,133,765
3,579,917
Redemptions
(2,120)
(1,700)
(1,439,694)
(1,237,179)
(974,595)
(727,358)
Net transfers from (to) other
annuity contracts
632,832
59,468
(2,005,236)
8,681,507
(1,150,774)
5,471,610
Increase in net assets
resulting from unit transactions
799,213
59,147
2,758,163
14,915,914
1,008,396
8,324,169
INCREASE IN NET ASSETS
933,847
58,267
12,484,893
11,395,424
4,751,584
7,428,133
NET ASSETS:
Beginning of period
562,587
50,984,528
30,816,982
31,165,620
19,102,625
End of period
$
1,496,434
$
58,267
$
63,469,421
$
42,212,406
$
35,917,204
$
26,530,758
(C) The Investment Division commenced operations on April 20, 1994.
</TABLE>
<TABLE>
FUTUREFUNDS SERIES ACCOUNT OF
GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY
<S>
STATEMENTS OF CHANGES IN NET ASSETS
<S>
SIX MONTHS ENDED JUNE 30, 1995 AND 1994
(Unaudited)
<C>
VIP
<C>
VIP
<C>
Growth
Asset Manager
Total
Investment
Investment
FutureFunds
<CAPTION>
Division (D)
Division (D)
Series
1995
1994
1995
1994
1995
1994
FROM OPERATIONS:
Net investment income (loss)
$
(13,779)
$
(752)
$
109,032
$
(867)
$
3,742,803
$
2,760,624
Net realized gain (loss) on investments
(27)
(58)
485
(24)
200,974
(18,140)
Net change in unrealized appreciation
(depreciation) on investments
1,776,857
(29,528)
401,934
(14,894)
60,296,216
(23,767,089)
Increase (decrease) in net assets
resulting from operations
1,763,051
(30,338)
511,451
(15,785)
64,239,993
(21,024,605)
FROM UNIT TRANSACTIONS:
Variable annuity contract:
Purchase payments
1,486,633
25,191
1,750,551
73,981
42,422,750
46,953,173
Redemptions
(48,229)
(10,242)
(120,895)
(8,765)
(18,557,449)
(14,208,365)
Net transfers from other
annuity contracts
2,358,613
987,075
1,391,532
1,007,857
8,013,900
41,187,543
Increase in net assets
resulting from unit transactions
3,797,017
1,002,024
3,021,188
1,073,073
31,879,201
73,932,351
INCREASE IN NET ASSETS
5,560,068
971,686
3,532,639
1,057,288
96,119,194
52,907,746
NET ASSETS:
Beginning of period
5,380,025
7,153,581
438,649,107
394,042,384
End of period
$
10,940,093
$
971,686
$
10,686,220
$
1,057,288
$
534,768,301
$
446,950,130
(D) The Investment Division commenced operations on April 21, 1994.
</TABLE>
<TABLE>
<S>
FUTUREFUNDS SERIES ACCOUNT OF
GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY
<CAPTION>
<S>
NOTES TO FINANCIAL STATEMENTS
SIX MONTHS ENDED JUNE 30, 1995 AND 1994
(Unaudited)
<fn1>
1. HISTORY OF THE SERIES ACCOUNT
The FutureFunds Series Account of Great-West Life & Annuity Insurance
Company (the Series Account) is a
separate account of Great-West Life & Annuity Insurance Company
(the Company) and was established under
Kansas law on November 15, 1983. In 1990, the Series Account was amended to
conform to and comply with
Colorado law in connection with the Company's redomestication to the State of
Colorado. The Series Account is
registered with the Securities and Exchange Commission as a unit investment
trust under the provisions of the
Investment Company Act of 1940, as amended.
The Series Account has seventeen investment divisions which invest in
shares of diversified, open-end management
investment companies as follows:
FutureFunds Series Account
Investment Division
Mutual Fund Investment
Money Market
Maxim Series Fund, Inc. - Money Market
Bond
Maxim Series Fund, Inc. - Bond
Corporate Bond
Maxim Series Fund, Inc. - Corporate Bond
INVESCO ADR
Maxim Series Fund, Inc. - INVESCO ADR
INVESCO Small-Cap Growth
Maxim Series Fund, Inc. - INVESCO Small-Cap Growth
Mid-Cap
Maxim Series Fund, Inc. - Mid-Cap
Stock Index
Maxim Series Fund, Inc. - Stock Index
Small-Cap Index
Maxim Series Fund, Inc. - Small-Cap Index
Small-Cap Value
Maxim Series Fund, Inc. - Small-Cap Value
T. Rowe Price Equity/Income
Maxim Series Fund, Inc. - T. Rowe Price Equity/Income
U.S. Government Securities
Maxim Series Fund, Inc. - U.S. Government Securities
International Equity
Maxim Series Fund, Inc. - International Equity
Total Return
Maxim Series Fund, Inc. - Total Return
TCI Growth
TCI Portfolios, Inc. - TCI Growth
TCI Balanced
TCI Portfolios, Inc. - TCI Balanced
VIP Growth
Fidelity Investments - Variable Insurance Products Fund - Growth
VIP Asset Manager
Fidelity Investments - Variable Insurance Products Fund II - Asset Manager
</fn1>
<fn2>
2. SIGNIFICANT ACCOUNTING POLICIES
The following is a summary of significant accounting policies of the Series
Account which are in accordance with
the accounting principles generally accepted in the investment company
industry:
a. Security Transactions - Security transactions are recorded on the trade
date. Cost of investments sold is
determined on the basis of identified cost.
Dividend income is accrued as of the ex-dividend date and expenses are
accrued on a daily basis.
b. Security Valuation - The investments in shares of the Funds are valued at
the closing net asset value per
share as determined by the appropriate portfolio at year-end.
The cost of investments represents shares of the Funds which were purchased
by the Series Account.
Purchases are made at the net asset value from net purchase payments or
through reinvestment of all
distributions from the Funds.
c. Federal Income Taxes - The Series Account income is automatically applied
to increase reserves. Under
the existing federal income tax law, this income is not taxed to the extent
that it is applied to increase
reserves under a contract. The Company reserves the right to charge the
Series Account for federal income
taxes attributed to the Series Account if such taxes are imposed in the future.
</fn2>
<fn3>
3. CHARGES UNDER THE CONTRACT
a. Contract Maintenance Charge - To compensate the Company for
administrative services, a contract
maintenance charge of not more than $60 is deducted from each
participant's account on the first day of
each calendar year. If the account is established after the beginning of
the year, the charge is deducted on
the first day of the next calendar quarter and is prorated for the portion of
the year remaining.
b. Charges Incurred for Total or Partial Surrenders - Pursuant to the
contract, charges will be made for total or
partial surrenders of a contract in excess of the "free amount" before the
retirement date by a deduction
from a participant's account. The "free amount" is an amount equal to 10% of
the participant account value
at December 31 of the calendar year prior to the partial or total surrender.
c. Deductions for Premium Taxes - The Company presently intends to pay any
premium tax levied by any
governmental entity as a result of the existence of the participant accounts
or the Series Account.
d. Deductions for Assumption of Mortality and Expense Risk - The Company
deducts an amount, computed
daily, from the net asset value of the Series Account investments, equal
to an annual rate of 1.25% (1.00%
allocable to mortality risk and .25% allocable to expense risk). This
charge is designed to compensate the
Company for its assumption of certain mortality, death benefit and expense
risks. The level of this charge
is guaranteed and will not change.
</fn3>
<fn4>
4. RELATED PARTY SERVICES
The Company's parent, The Great-West Life Assurance Company, serves as
investment advisor to Maxim Series
Fund, Inc. Fees are assessed against the average daily net asset value of
the Funds to compensate The Great-West
Life Assurance Company for investment advisory services.
</fn4>
<fn5>
5. COMPONENTS OF NET ASSETS APPLICABLE TO OUTSTANDING UNITS OF CAPITAL
The following is a summary of the net assets applicable to outstanding
units of capital at June 30, 1995, for each
investment division.
Total Variable
Annuity
Contract
Units
Unit Price
Liabilities
NET ASSETS APPLICABLE TO OUTSTANDING
UNITS OF CAPITAL:
Investment Division:
Money Market
2,459,955.684630
$
16.611221
$
40,862,868
Bond
2,066,948.187454
25.081513
51,842,188
Corporate Bond
42,184.736381
11.383610
480,215
INVESCO ADR
8,453.506409
10.299227
87,065
INVESCO Small-Cap Growth
67,123.208086
11.471541
770,007
Mid-Cap
1,372,462.498575
11.637871
15,972,542
Stock Index
7,612,576.799075
32.389738
246,569,368
Small-Cap Index
260,253.208961
10.684605
2,780,703
Small-Cap Value
7,955.470297
10.710551
85,207
T. Rowe Price Equity/Income
206,724.334294
11.247540
2,325,140
U.S. Government Securities
2,842,416.501805
11.707054
33,276,323
International Equity
1,557,788.142711
11.045984
17,207,303
Total Return
137,827.504005
10.857295
1,496,434
TCI Growth
4,634,588.593452
13.694726
63,469,421
TCI Balanced
2,963,938.635354
12.118066
35,917,204
VIP Growth
924,418.178367
11.834572
10,940,093
VIP Asset Manager
1,087,966.226635
9.822198
10,686,220
TOTAL
$
534,768,301
</fn5>
<fn6>
6. SELECTED DATA
The following is a summary of selected data for a unit of capital of the
Series Account at the beginning and end of the year and the number of
units outstanding at June 30, 1995 and December 31, 1994,
1993, 1992, and 1991:
Maxim Series Fund, Inc.
<C>
INVESCO
<C>
Money
<C>
Corporate
INVESCO
Small-Cap
Stock
Small-Cap
Small-Cap
T. Rowe Price
Market
Bond
Bond
ADR
Growth
Mid-Cap
Index
Index
Value
Equity/Income
June 1995
(I)
(G)
(H)
Beginning Unit Value
$ 16.25
$ 22.89
$ 10.00
$ 10.00
$ 10.00
$ 10.96
$ 27.30
$ 9.48
$ 10.15
$ 9.85
Ending Unit Value
$ 16.61
$ 25.08
$ 11.38
$ 10.30
$ 11.47
$ 11.64
$ 32.39
$ 10.68
$ 10.71
$ 11.25
Number of Units Outstanding
2,459,955.68
2,066,948.19
42,184.74
8,453.51
67,123.21
1,372,462.50
7,612,576.80
260,253.21
7,955.47
206,724.33
1994
Beginning Unit Value
$ 15.84
$ 23.74
$ 10.00
$ 27.61
$ 10.00
$ 10.00
$ 10.00
Ending Unit Value
$ 16.25
$ 22.89
$ 10.96
$ 27.30
$ 9.48
$ 10.15
$ 9.85
Number of Units Outstanding
2,277,816.08
2,102,049.13
788,758.55
7,589,448.89
152,895.00
.01
16,574.29
1993
Beginning Unit Value
$ 15.60
$ 22.14
$ 25.44
Ending Unit Value
$ 15.84
$ 23.74
$ 27.61
Number of Units Outstanding
684,668.93
2,301,785.20
9,325,064.15
1992
Beginning Unit Value
$ 15.26
$ 21.10
$ 24.33
Ending Unit Value
$ 15.60
$ 22.14
$ 25.44
Number of Units Outstanding
787,941.29
1,995,291.18
8,106,010.86
1991
Beginning Unit Value
$ 14.59
$ 18.63
$ 19.97
Ending Unit Value
$ 15.26
$ 21.10
$ 24.33
Number of Units Outstanding
901,602.83
2,067,965.90
8,262,907.65
(G) The Investment Division commenced operations on January 5, 1995, at a
unit value of $10.00.
(H) The Investment Division commenced operations on January 9, 1995, at a
unit value of $10.00.
(I) The Investment Division commenced operations on February 2, 1995, at
a unit value of $10.00.
6. SELECTED DATA (Continued)
The following is a summary of selected data for a unit of capital of the
Series Account at the beginning and end of the year and the number of units
outstanding at June 30, 1995 and December 31, 1994,
1993, 1992, and 1991:
Maxim Series Fund, Inc.
TCI
VIP
<C>
<C>
<C>
<C>
<C>
<C>
<C>
U.S.
<S>
Government
International
<S>
Securities
Equity
Total Return
Growth
Balanced
Growth
Asset Management
June 1995
Beginning Unit Value
$ 10.71
$ 10.49
$ 9.62
$ 11.53
$ 10.83
$ 9.62
$ 9.31
Ending Unit Value
$ 11.71
$ 11.05
$ 10.86
$ 13.69
$ 12.12
$ 11.83
$ 9.82
Number of Units Outstanding
2,842,416.50
1,557,788.14
137,827.50
4,634,588.59
2,963,938.63
924,418.18
1,087,966.23
1994
Beginning Unit Value
$ 11.21
$ 10.00
$ 10.00
$ 11.82
$ 10.90
$ 10.00
$ 10.00
Ending Unit Value
$ 10.71
$ 10.49
$ 9.62
$ 11.53
$ 10.83
$ 9.62
$ 9.31
Number of Units Outstanding
2,756,894.60
1,075,821.94
58,473,26
4,420,493.64
2,877,738.22
559,313.44
768,426.17
1993
Beginning Unit Value
$ 10.38
$ 10.85
$ 10.25
Ending Unit Value
$ 11.21
$ 11.82
$ 10.90
Number of Units Outstanding
1,892,295.35
2,607,850.29
1,752,730.91
1992
Beginning Unit Value
$ 10.00
$ 10.00
$ 10.00
Ending Unit Value
$ 10.38
$ 10.85
$ 10.25
Number of Units Outstanding
251,644.29
647,465.54
473,967.51
1991
Beginning Unit Value
Ending Unit Value
Number of Units Outstanding
(Concluded)
</fn6>
<fn7>
7. CHANGE IN SHARES
The following is a summary of the net change in total investment shares
held in each of the respective
mutual funds:
For the Six Months Ended June 30,
1995
1994
Affiliated:
<S>
Maxim Series Fund, Inc. -
Money Market
5,747,069
11,876,323
Maxim Series Fund, Inc. -
Bond
607,814
2,088,775
Maxim Series Fund, Inc. -
Corporate Bond
420,863
Maxim Series Fund, Inc. -
INVESCO ADR
84,318
Maxim Series Fund, Inc. -
INVESCO Small-Cap Growth
649,514
Maxim Series Fund, Inc. -
Mid-Cap
6,089,949
947,597
Maxim Series Fund, Inc. -
Stock Index
1,602,718
14,957,457
Maxim Series Fund, Inc. -
Small-Cap Index
1,091,446
287,351
Maxim Series Fund, Inc. -
Small-Cap Value
62,736
Maxim Series Fund, Inc. -
T. Rowe Price Equity/Income
1,869,197
Maxim Series Fund, Inc. -
U.S. Government Securities
3,362,773
9,250,090
Maxim Series Fund, Inc. -
International Equity
5,408,126
1,692,060
Maxim Series Fund, Inc. -
Total Return
726,163
50,527
Unaffiliated:
TCI Portfolios, Inc. -
TCI Growth
398,057
1,552,858
TCI Portfolios, Inc. -
TCI Balanced
373,721
1,363,035
Fidelity Investments -
Variable Insurance Products
Fund - Growth
172,951
49,100
Fidelity Investments -
Variable Insurance Products
Fund II - Asset Manager
261,137
74,641
</fn7>
</TABLE>
<TABLE>
MAXIM SERIES ACCOUNT OF
GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY
<CAPTION>
<C>
<C>
<C>
STATEMENT OF ASSETS AND LIABILITIES
<S>
JUNE 30, 1995
(Unaudited)
<S>
CONTRACTS ISSUED BEFORE
SEPTEMBER 24, 1984
ASSETS:
Shares
Cost
Value
Investments in mutual funds:
Affiliated:
Maxim Series Fund, Inc.-
Money Market\Non-Qualified
41,501
$
41,567
$
41,529
Maxim Series Fund, Inc.-
Money Market\Qualified
114,210
115,491
114,287
Maxim Series Fund, Inc.-
Bond\Non-Qualified
71,072
89,191
86,324
Maxim Series Fund, Inc.-
Bond\Qualified
12,356
14,954
15,008
Maxim Series Fund, Inc.-
Stock Index\Qualified
3,715
20,209
6,578
Maxim Series Fund, Inc.-
Total Return\Non-Qualified
30,426
34,502
38,117
Total investments
$
315,914
301,843
Other assets and liabilities:
Other assets
415
Due to Great-West Life & Annuity Insurance Company
(423)
Other liabilities
(37)
NET ASSETS APPLICABLE TO OUTSTANDING UNITS OF CAPITAL (Note 5)
$
301,798
</TABLE>
<TABLE>
MAXIM SERIES ACCOUNT OF
GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY
<CAPTION>
STATEMENT OF ASSETS AND LIABILITIES
<S>
JUNE 30, 1995
<S>
(Unaudited)
<C>
<C>
<C>
CONTRACTS ISSUED AFTER
SEPTEMBER 24, 1984
ASSETS:
Shares
Cost
Value
Investments in mutual funds:
Affiliated:
Maxim Series Fund, Inc.-
Money Market\Non-Qualified
1,775,310
$
1,775,643
$
1,776,511
Maxim Series Fund, Inc.-
Money Market\Qualified
1,834,241
1,845,551
1,835,482
Maxim Series Fund, Inc.-
Bond\Non-Qualified
1,710,979
2,144,965
2,078,141
Maxim Series Fund, Inc.-
Bond\Qualified
2,211,114
2,788,996
2,685,601
Maxim Series Fund, Inc.-
Stock Index\Non-Qualifed
3,288,162
4,946,803
5,821,872
Maxim Series Fund, Inc.-
Stock Index\Qualified
4,133,949
6,097,073
7,319,384
Maxim Series Fund, Inc.-
U.S. Government Securities/Non-Qualified
7,197,671
7,970,105
7,761,979
Maxim Series Fund, Inc.-
U.S. Government Securities/Qualified
4,970,896
5,498,105
5,360,621
Maxim Series Fund, Inc.-
Total Return/Non-Qualified
3,454,492
3,918,934
4,327,657
Unaffiliated:
TCI Portfolios, Inc. - TCI Growth
22,565
210,006
247,986
TCI Portfolios, Inc. - TCI Balanced
53,280
311,904
353,781
Total investments
$
37,508,085
39,569,015
Other assets and liabilities:
Premiums due and accrued
790
Other assets
1,024
Due to Great-West Life & Annuity Insurance Company
(46,545)
Other liabilities
(159)
NET ASSETS APPLICABLE TO OUTSTANDING UNITS OF CAPITAL (Note 5)
$
39,524,125
</TABLE>
<TABLE>
MAXIM SERIES ACCOUNT OF
GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY
<CAPTION>
STATEMENT OF ASSETS AND LIABILITIES
JUNE 30, 1995
<S>
(Unaudited)
<S>
CONTRACTS ISSUED AFTER
<C>
<C>
<C>
SEPTEMBER 19, 1994
ASSETS:
Shares
Cost
Value
Investments in mutual funds:
Affiliated:
Maxim Series Fund, Inc.-
Bond
4,012
$
4,570
$
4,873
Maxim Series Fund, Inc.-
U.S. Government Securities
1,929
1,983
2,080
Maxim Series Fund, Inc.-
Mid-Cap
94,785
103,289
111,288
Maxim Series Fund, Inc.-
INVESCO ADR
24,728
24,361
25,446
Maxim Series Fund, Inc.-
INVESCO Small-Cap Growth
18,294
19,497
21,012
Maxim Series Fund, Inc.-
Stock Index
51,129
51,450
55,138
Maxim Series Fund, Inc.-
Small-Cap Index
20,999
21,286
22,590
Maxim Series Fund, Inc.-
Total Return
19,661
22,501
24,630
Maxim Series Fund, Inc.-
T. Rowe Price Equity/Income
56,129
58,899
62,276
Maxim Series Fund, Inc.-
Small-Cap Value
7,205
7,274
7,493
Unaffiliated:
TCI Portfolios, Inc. - TCI Growth
1,162
10,969
12,771
TCI Portfolios, Inc. - TCI Balanced
612
3,621
4,064
Total investments
$
329,700
353,661
Other assets and liabilities:
Due to Great-West Life & Annuity Insurance Company
(116)
NET ASSETS APPLICABLE TO OUTSTANDING UNITS OF CAPITAL (Note 5)
$
353,545
</TABLE>
<TABLE>
MAXIM SERIES ACCOUNT OF
GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY
<CAPTION>
STATEMENT OF OPERATIONS
<S>
SIX MONTHS ENDED JUNE 30, 1995
<S>
(Unaudited)
<C>
<C>
<C>
<C>
<C>
Stock Index
Total Return
Total
Money Market
Bond
Investment
Investment
Maxim
Investment Division
Investment Division
Division
Division
Series
Non-Qualified
Qualified
Non-Qualified
Qualified
Qualified
Non-Qualified
I
CONTRACTS ISSUED BEFORE
SEPTEMBER 24, 1984
INVESTMENT INCOME
$
1,154
$
746
$
2,490
$
1,449
$
318
$
674
$
6,831
EXPENSES- mortality and expense
risks (Note 3)
255
162
513
312
331
222
1,795
NET INVESTMENT INCOME (LOSS)
899
584
1,977
1,137
(13)
452
5,036
REALIZED AND UNREALIZED GAIN
(LOSS) ON INVESTMENTS:
Net realized gain on investments
46
277
24,822
25
25,170
Net change in unrealized appreciation
(depreciation) on investments
1
5,519
3,441
(15,941)
3,861
(3,119)
NET REALIZED AND UNREALIZED
GAIN ON INVESTMENTS
0
1
5,565
3,718
8,881
3,886
22,051
NET INCREASE IN NET ASSETS
RESULTING FROM OPERATIONS
$
899
$
585
$
7,542
$
4,855
$
8,868
$
4,338
$
27,087
</TABLE>
See notes to financial statements.
(Continued)
<TABLE>
MAXIM SERIES ACCOUNT OF
GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY
<CAPTION>
STATEMENT OF OPERATIONS
SIX MONTHS ENDED JUNE 30, 1995
(Unaudited)
<C>
<C>
<C>
Money Market
Bond
Stock Index
Investment Division
Investment Division
Investment Division
Non-Qualified
Qualified
Non-Qualified
Qualified
Non-Qualified
Qualified
CONTRACTS ISSUED AFTER
SEPTEMBER 24, 1984
INVESTMENT INCOME
$
57,350
$
52,926
$
61,474
$
74,632
$
55,954
$
69,981
EXPENSES- mortality and expense
risks (Note 3)
14,263
13,149
14,256
17,238
39,384
49,197
NET INVESTMENT INCOME
43,087
39,777
47,218
57,394
16,570
20,784
REALIZED AND UNREALIZED GAIN
(LOSS) ON INVESTMENTS:
Net realized gain (loss) on investment
(20)
2
(15,869)
(17,051)
175,926
168,973
Net change in unrealized appreciation
(depreciation) on investments
20
(3)
153,049
182,314
770,388
1,011,341
NET REALIZED AND UNREALIZED
GAIN (LOSS) ON INVESTMENTS
0
(1)
137,180
165,263
946,314
1,180,314
NET INCREASE IN NET ASSETS
RESULTING FROM OPERATIONS
$
43,087
$
39,776
$
184,398
$
222,657
$
962,884
$
1,201,098
See notes to financial statements.
(Continued)
MAXIM SERIES ACCOUNT OF
GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY
STATEMENT OF OPERATIONS
SIX MONTHS ENDED JUNE 30, 1995
(Unaudited)
U.S. Government
Total Return
TCI
TCI
Total
Securities
Investment
Growth
Balanced
Maxim
Investment Division
Division
Investment
Investment
Series
Non-Qualified
Qualified
Non-Qualified
Division
Division
II
CONTRACTS ISSUED AFTER
SEPTEMBER 24, 1984
INVESTMENT INCOME
$
257,756
$
176,164
$
83,333
$
263
$
3,548
$
893,381
EXPENSES- mortality and expense
risks (Note 3)
55,034
37,557
33,514
1,591
2,252
277,435
NET INVESTMENT INCOME (LOSS)
202,722
138,607
49,819
(1,328)
1,296
615,946
REALIZED AND UNREALIZED GAIN
(LOSS) ON INVESTMENTS:
Net realized gain (loss) on investments
(57,132)
(18,988)
226,998
1,548
498
464,885
Net change in unrealized appreciation
on investments
547,319
353,312
300,662
39,668
35,510
3,393,580
NET REALIZED AND UNREALIZED
GAIN ON INVESTMENTS
490,187
334,324
527,660
41,216
36,008
3,858,465
NET INCREASE IN NET ASSETS
RESULTING FROM OPERATIONS
$
692,909
$
472,931
577,479
$
39,888
$
37,304
$
4,474,411
</TABLE>
See notes to financial statements.
<TABLE>
<S>
MAXIM SERIES ACCOUNT OF
<S>
GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY
<CAPTION>
STATEMENT OF OPERATIONS
SIX MONTHS ENDED JUNE 30, 1995
(Unaudited)
<C>
<C>
U.S.
INVESCO
Government
INVESCO
Small-Cap
Stock
Small-Cap
Bond
Securities
Mid-Cap
ADR
Growth
Index
Index
Investment
Investment
Investment
Investment
Investment
Investment
Investment
Division
Division
Division
Division
Division
Division
Division
CONTRACTS ISSUED AFTER
SEPTEMBER 19, 1994
<C>
INVESTMENT INCOME
$
141
$
62
$
77
$
166
$
77
$
473
$
93
EXPENSES - Mortality and expense
risks (Note 3)
29
11
456
87
73
250
79
NET INVESTMENT INCOME (LOSS)
112
51
(379)
79
4
223
14
REALIZED AND UNREALIZED GAIN
ON INVESTMENTS:
Net realized gain on investments
162
2
3
2,012
3
Net change in unrealized appreciation
on investments
314
97
6,026
1,085
1,515
4,422
1,708
NET REALIZED AND UNREALIZED
GAIN ON INVESTMENTS
314
97
6,188
1,087
1,518
6,434
1,711
NET INCREASE IN NET ASSETS
RESULTING FROM OPERATIONS
$
426
$
148
$
5,809
$
1,166
$
1,522
$
6,657
$
1,725
</TABLE>
<TABLE>
<S>
MAXIM SERIES ACCOUNT OF
<S>
GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY
<CAPTION>
STATEMENT OF OPERATIONS
SIX MONTHS ENDED JUNE 30, 1995
(Unaudited)
<C>
T. Rowe
<C>
Total
Price
Small-Cap
TCI
TCI
Total
Return
Equities/Income
Value
Growth
Balanced
Maxim
Investment
Investment
Investment
Investment
Investment
Series
Division
Division
Division
Division
Division
III
CONTRACTS ISSUED AFTER
SEPTEMBER 19, 1994
INVESTMENT INCOME
$
434
$
754
$
163
$
$
41
$
2,481
EXPENSES - Mortality and expense
risks (Note 3)
143
222
28
57
22
1,457
NET INVESTMENT INCOME (LOSS)
291
532
135
(57)
19
1,024
REALIZED AND UNREALIZED GAIN
ON INVESTMENTS:
Net realized gain on investments
9
5
5
1
2,202
Net change in unrealized appreciation
on investments
2,486
3,377
219
1,802
400
23,451
NET REALIZED AND UNREALIZED
GAIN ON INVESTMENTS
2,495
3,382
219
1,807
401
25,653
NET INCREASE IN NET ASSETS
RESULTING FROM OPERATIONS
$
2,786
$
3,914
$
354
$
1,750
$
420
$
26,677
</TABLE>
<TABLE>
<S>
MAXIM SERIES ACCOUNT OF
<S>
GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY
<CAPTION>
STATEMENTS OF CHANGES IN NET ASSETS
SIX MONTHS ENDED JUNE 30, 1995
(Unaudited)
<C>
U.S
Government
INVESCO
Bond
Securities
Mid-Cap
ADR
Investment
Investment
Investment
Investment
Division
Division (B)
Division
Division (A)
1995
1995
1995
1995
CONTRACTS ISSUED AFTER
SEPTEMBER 19, 1994
FROM OPERATIONS:
Net investment income (loss)
$
112
$
51
$
(379)
$
79
Net realized gain on investments
162
2
Net change in unrealized appreciation
on investments
314
97
6,026
1,085
Increase in net assets
resulting from operations
426
148
5,809
1,166
FROM UNIT TRANSACTIONS:
Variable annuity contract:
Purchase payments
1,925
52,459
14,186
Net transfers from other
annuity contracts
4,310
10,087
Increase in net assets
resulting from unit transactions
1,925
56,769
24,273
INCREASE IN NET ASSETS
426
2,073
62,578
25,439
NET ASSETS:
Beginning of period
4,445
48,675
End of period
$
4,871
$
2,073
$
111,253
$
25,439
(A) The Investment Division commenced operations on January 6, 1995.
(B) The Investment Division commenced operations on January 18, 1995.
</TABLE>
See notes to financial statements.
(Continued)
<TABLE>
MAXIM SERIES ACCOUNT OF
<S>
GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY
<CAPTION>
STATEMENTS OF CHANGES IN NET ASSETS
SIX MONTHS ENDED JUNE 30, 1995
(Unaudited)
<C>
INVESCO
Small-Cap
Small-Cap
Growth
Stock Index
Index
Total Return
Investment
Investment
Investment
Investment
Division (A)
Division
Division
Division
1995
1995
1995
1995
CONTRACTS ISSUED AFTER
SEPTEMBER 19, 1994
FROM OPERATIONS:
Net investment income
$
4
$
223
$
14
$
291
Net realized gain on investments
3
2,012
3
9
Net change in unrealized appreciation
on investments
1,515
4,422
1,708
2,486
Increase in net assets
resulting from operations
1,522
6,657
1,725
2,786
FROM UNIT TRANSACTIONS:
Variable annuity contract:
Purchase payments
19,484
25,996
1,244
1,673
Net transfers from other
annuity contracts
9,982
Increase in net assets
resulting from unit transactions
19,484
25,996
11,226
1,673
INCREASE IN NET ASSETS
21,006
32,653
12,951
4,459
NET ASSETS:
<S>
Beginning of period
22,468
9,632
20,162
<S>
End of period
$
21,006
$
55,121
$
22,583
$
24,621
<S>
(A) The Investment Division commenced operations on January 6, 1995.
</TABLE>
<TABLE>
<S>
MAXIM SERIES ACCOUNT OF
<S>
GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY
<CAPTION>
STATEMENTS OF CHANGES IN NET ASSETS
(Unaudited)
<C>
<C>
<C>
<C>
<C>
T. Rowe Price
Small-Cap
TCI
TCI
Total
Equity/Income
Value
Growth
Balanced
Maxim
Investment
Investment
Investment
Investment
Series
Division (A)
Division (C)
Division (B)
Division
III
1995
1995
1995
1995
1995
CONTRACTS ISSUED AFTER
SEPTEMBER 19, 1994
FROM OPERATIONS:
Net investment income (loss)
$
532
$
135
$
(57)
$
19
$
1,024
Net realized gain on investments
5
5
1
2,202
Net change in unrealized appreciation
on investments
3,377
219
1,802
400
23,451
Increase in net assets
resulting from operations
3,914
354
1,750
420
26,677
FROM UNIT TRANSACTIONS:
Variable annuity contract:
Purchase payments
48,323
7,137
11,017
1,675
185,119
Net transfers from other
annuity contracts
10,022
34,401
Increase in net assets
resulting from unit transactions
58,345
7,137
11,017
1,675
219,520
INCREASE IN NET ASSETS
62,259
7,491
12,767
2,095
246,197
NET ASSETS:
Beginning of period
1,966
107,348
End of period
$
62,259
$
7,491
$
12,767
$
4,061
$
353,545
(A) The Investment Division commenced operations on January 6, 1995.
(B) The Investment Division commenced operations on January 18, 1995.
(C) The Investment Division commenced operations on March 9, 1995.
</TABLE>
<TABLE>
MAXIM SERIES ACCOUNT OF
GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY
<CAPTION>
STATEMENTS OF CHANGES IN NET ASSETS
<S>
SIX MONTHS ENDED JUNE 30, 1995 AND 1994
<S>
(Unaudited)
<C>
<C>
<C>
<C>
<C>
<C>
<C>
<C>
<C>
Money Market
Bond
Investment Division
Investment Division
Non-Qualified
Qualified
Non-Qualified
Qualified
1995
1994
1995
1994
1995
1994
1995
1994
CONTRACTS ISSUED BEFORE
SEPTEMBER 24, 1984
FROM OPERATIONS:
Net investment income
$
899
$
375
$
584
$
134
$
1,977
$
1,559
$
1,137
$
1,037
Net realized gain (loss) on investments
46
42
277
(1)
Net change in unrealized appreciation
(depreciation) on investments
1
5,519
(4,439)
3,441
(2,925)
Increase (decrease) in net assets
resulting from operations
899
375
585
134
7,542
(2,838)
4,855
(1,889)
FROM UNIT TRANSACTIONS:
Variable annuity contract:
Redemptions
(30)
(30)
(9)
(10)
(42,274)
(28)
Net transfers from other
annuity contracts
99,247
Increase (decrease) in net assets
resulting from unit transactions
(30)
(30)
99,238
(10)
(42,274)
(28)
INCREASE (DECREASE) IN
NET ASSETS
869
345
99,823
124
7,542
(2,838)
(37,419)
(1,917)
NET ASSETS:
Beginning of period
40,628
39,695
14,367
14,044
78,687
81,701
52,471
54,489
End of period
$
41,497
$
40,040
$
114,190
$
14,168
$
86,229
$
78,863
$
15,052
$
52,572
</TABLE>
<TABLE>
MAXIM SERIES ACCOUNT OF
GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY
<S>
STATEMENTS OF CHANGES IN NET ASSETS
<S>
SIX MONTHS ENDED JUNE 30, 1995 AND 1994
(Unaudited)
<C>
<C>
<C>
Total
Stock Index
Total Return
Maxim
Investment Division
Investment Division
Series
Qualified
Non-Qualified
I
1995
1994
1995
1994
1995
1994
CONTRACTS ISSUED BEFORE
SEPTEMBER 24, 1984
FROM OPERATIONS:
Net investment income (loss)
$
(13)
$
185
$
452
$
316
$
5,036
$
3,606
Net realized gain on investments
24,822
1,522
25
17
25,170
1,580
Net change in unrealized appreciation
(depreciation) on investments
(15,941)
(4,355)
3,861
(1,784)
(3,119)
(13,503)
Increase (decrease) in net assets
resulting from operations
8,868
(2,648)
4,338
(1,451)
27,087
(8,317)
FROM UNIT TRANSACTIONS:
Variable annuity contract:
Redemptions
(24)
(23)
(42,337)
(91)
Net transfers from (to) other
annuity contracts
(57,001)
(17,012)
17,012
42,246
Increase (decrease) in net assets
resulting from unit transactions
(57,025)
(17,035)
17,012
(91)
(91)
INCREASE (DECREASE) IN
NET ASSETS
(48,157)
(19,683)
4,338
15,561
26,966
(8,408)
NET ASSETS:
Beginning of period
54,907
72,535
33,742
18,169
274,802
280,633
End of period
$
6,750
$
52,852
$
38,080
$
33,730
$
301,798
$
272,225
</TABLE>
<TABLE>
MAXIM SERIES ACCOUNT OF
GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY
<CAPTION>
STATEMENTS OF CHANGES IN NET ASSETS
<S>
SIX MONTHS ENDED JUNE 30, 1995 AND 1994
(Unaudited)
<C>
Money Market
Bond
Investment Division
Investment Division
Non-Qualified
Qualified
Non-Qualified
Qualified
1995
1994
1995
1994
1995
1994
1995
1994
CONTRACTS ISSUED AFTER
SEPTEMBER 24, 1984
FROM OPERATIONS:
Net investment income
$
43,087
$
18,001
$
39,777
$
13,667
$
47,218
$
58,820
$
57,394
$
56,192
Net realized gain (loss)
on investments
(20)
(3)
2
(31)
(15,869)
(10,517)
(17,051)
(10,274)
Net change in unrealized appreciation
(depreciation) on investments
20
3
(3)
31
153,049
(164,762)
182,314
(157,762)
Increase (decrease) in net assets
resulting from operations
43,087
18,001
39,776
13,667
184,398
(116,459)
222,657
(111,844)
FROM UNIT TRANSACTIONS:
Variable annuity contract:
Purchase payments
5,210
4,822
2,123
18,155
2,664
13,674
8,047
32,802
Redemptions
(531,635)
(424,820)
(205,822)
(527,335)
(122,419)
(391,117)
(240,615)
(312,233)
Net transfers from (to) other
annuity contracts
263,015
682,375
(11,274)
446,060
(27,210)
25,117
251,220
(85,365)
Increase (decrease) in net assets
resulting from unit transactions
(263,410)
262,377
(214,973)
(63,120)
(146,965)
(352,326)
18,652
(364,796)
INCREASE (DECREASE) IN
NET ASSETS
(220,323)
280,378
(175,197)
(49,453)
37,433
(468,785)
241,309
(476,640)
NET ASSETS:
Beginning of period
1,994,805
2,100,829
2,008,859
1,613,090
2,038,251
3,436,215
2,441,181
3,289,494
End of period
$
1,774,482
$
2,381,207
$
1,833,662
$
1,563,637
$
2,075,684
$
2,967,430
$
2,682,490
$
2,812,854
</TABLE>
<TABLE>
MAXIM SERIES ACCOUNT OF
GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY
<CAPTION>
STATEMENTS OF CHANGES IN NET ASSETS
<S>
SIX MONTHS ENDED JUNE 30, 1995 AND 1994
<S>
(Unaudited)
<C>
Stock Index
U.S. Government Securities
Investment Division
Investment Division
Non-Qualified
Qualified
Non-Qualified
Qualified
1995
1994
1995
1994
1995
1994
1995
1994
CONTRACTS ISSUED AFTER
SEPTEMBER 24, 1984
FROM OPERATIONS:
Net investment income
$
16,570
$
22,946
$
20,784
$
24,802
$
202,722
$
177,633
$
138,607
$
115,237
Net realized gain (loss)
on investments
175,926
87,833
168,973
116,556
(57,132)
1,867
(18,988)
22,166
Net change in unrealized appreciation
(depreciation) on investments
770,388
(455,961)
1,011,341
(533,015)
547,319
(768,021)
353,312
(506,351)
Increase (decrease) in net assets
resulting from operations
962,884
(345,182)
1,201,098
(391,657)
692,909
(588,521)
472,931
(368,948)
FROM UNIT TRANSACTIONS:
Variable annuity contract:
Purchase payments
23,759
61,406
37,264
91,876
3,530
15,730
64,159
34,519
Redemptions
(913,397)
(621,611)
(834,191)
(1,167,370)
(1,220,644)
(1,981,490)
(805,807)
(1,044,173)
Net transfers from (to) other
annuity contracts
74,999
(100,068)
15,093
(147,781)
(22,373)
(742,080)
(5,451)
(241,386)
(Decrease) in net assets
resulting from unit transactions
(814,639)
(660,273)
(781,834)
(1,223,275)
(1,239,487)
(2,707,840)
(747,099)
(1,251,040)
INCREASE (DECREASE) IN
NET ASSETS
148,245
(1,005,455)
419,264
(1,614,932)
(546,578)
(3,296,361)
(274,168)
(1,619,988)
NET ASSETS:
Beginning of period
5,666,957
7,446,855
6,892,550
8,825,829
8,299,336
13,587,805
5,628,613
8,649,490
End of period
$
5,815,202
$
6,441,400
$
7,311,814
$
7,210,897
$
7,752,758
$
10,291,444
$
5,354,445
$
7,029,502
</TABLE>
<TABLE>
MAXIM SERIES ACCOUNT OF
GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY
<S>
STATEMENTS OF CHANGES IN NET ASSETS
<S>
SIX MONTHS ENDED JUNE 30, 1995 AND 1994
<C>
(Unaudited)
<C>
<C>
<C>
Total
Total Return
TCI Growth
TCI Balanced
Maxim
Investment Division
Investment
Investment
Series
Non-Qualified
Division
Division
II
1995
1994
1995
1994
1995
1994
1995
1994
CONTRACTS ISSUED AFTER
SEPTEMBER 24, 1984
FROM OPERATIONS:
Net investment income (loss)
$
49,819
$
43,226
$
(1,328)
$
(3,081)
$
1,296
$
1,480
$
615,946
$
528,923
Net realized gain
on investments
226,998
201,456
1,548
9,731
498
617
464,885
419,401
Net change in unrealized appreciation
(depreciation) on investments
300,662
(504,669)
39,668
(40,175)
35,510
(13,652)
3,393,580
(3,144,334)
Increase (decrease) in net assets
resulting from operations
577,479
(259,987)
39,888
(33,525)
37,304
(11,555)
4,474,411
(2,196,010)
FROM UNIT TRANSACTIONS:
Variable annuity contract:
Purchase payments
48,845
44,420
1,776
10,744
4,212
6,859
201,589
335,007
Redemptions
(758,295)
(1,087,091)
(49,712)
(14,020)
(5,413)
(11,991)
(5,687,950)
(7,583,251)
Net transfers from (to) other
annuity contracts
(594,277)
259,809
27,160
(113,680)
29,098
16,999
Increase (decrease) in net assets
resulting from unit transactions
(1,303,727)
(782,862)
(20,776)
(116,956)
27,897
11,867
(5,486,361)
(7,248,244)
INCREASE (DECREASE) IN
NET ASSETS
(726,248)
(1,042,849)
19,112
(150,481)
65,201
312
(1,011,950)
(9,444,254)
NET ASSETS:
Beginning of period
5,048,749
6,869,133
228,595
495,514
288,179
363,580
40,536,075
56,677,834
End of period
$
4,322,501
$
5,826,284
$
247,707
$
345,033
$
353,380
$
363,892
$
39,524,125
$
47,233,580
</TABLE>
<TABLE>
<S>
MAXIM SERIES ACCOUNT OF
GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY
<fn1>
NOTES TO FINANCIAL STATEMENTS
SIX MONTHS ENDED JUNE 30, 1995 AND 1994
(Unaudited)
<S>
1. HISTORY OF THE SERIES ACCOUNT
The Maxim Series Account of Great-West Life & Annuity Insurance Company
(the Series Account) is a separate account of
Great-West Life & Annuity Insurance Company (the Company) and was
established under Kansas law on June 24, 1981. In
1990 the Series Account was amended to conform to and comply with Colorado
law in connection with the Company's
redomestication to the State of Colorado. The Series Account is registered
with the Securities and Exchange Commission as
a unit investment trust under the provisions of the Investment Company Act
of 1940, as amended.
The Series Account has seventeen investment divisions which invest in
shares of diversified, open-end management
investment companies as follows:
Investment Division
Mutual Fund Investment
Maxim Series I:
Money Market
Maxim Series Fund, Inc. - Money Market
Bond
Maxim Series Fund, Inc. - Bond
Stock Index
Maxim Series Fund, Inc. - Stock Index
Total Return
Maxim Series Fund, Inc. - Total Return
Maxim Series II:
Money Market
Maxim Series Fund, Inc. - Money Market
Bond
Maxim Series Fund, Inc. - Bond
Stock Index
Maxim Series Fund, Inc. - Stock Index
U.S. Government Securities
Maxim Series Fund, Inc. - U.S. Government Securities
Total Return
Maxim Series Fund, Inc. - Total Return
TCI Growth
TCI Portfolios, Inc. - TCI Growth
TCI Balanced
TCI Portfolios, Inc. - TCI Balanced
Maxim Series III:
Money Market
Maxim Series Fund, Inc. - Money Market
Bond
Maxim Series Fund, Inc. - Bond
U.S. Government Securities
Maxim Series Fund, Inc. - U.S. Government Securities
Mid-Cap
Maxim Series Fund, Inc. - Mid-Cap
INVESCO ADR
Maxim Series Fund, Inc. - INVESCO ADR
INVESCO Small-Cap Growth
Maxim Series Fund, Inc. - INVESCO Small-Cap Growth
Stock Index
Maxim Series Fund, Inc. - Stock Index
Small-Cap Index
Maxim Series Fund, Inc. - Small-Cap Index
T. Rowe Price Equity/Income
Maxun Series Fund, Inc. - T. Rowe Price Equity/Income
Small-Cap Value
Maxim Series Fund, Inc. - Small-Cap Value
Total Return
Maxim Series Fund, Inc. - Total Return
TCI Growth
TCI Portfolios, Inc. - TCI Growth
TCI Balanced
TCI Portfolios, Inc. - TCI Balanced
As of September 24, 1984, the administrative charges of the Series Account
were changed by a vote of the Board of
Directors. Contracts purchased prior to September 24, 1984 (Maxim I Series)
were and will remain on the previous charges
while contracts purchased after September 24, 1984 (Maxim II Series) will be
charged with the new amounts (see Note 3).
As a result of changes in the administrative charges, the contracts purchased
after September 24, 1984 are being accounted
for separately.
As of September 19, 1994, the Company began offering a new contract in the
Series Account (Maxim III Series). The
administrative charges for these contracts differ from the administrative
charges for contracts in the Maxim I Series and the
Maxim II Series (see Note 3) and are therefore, accounted for separately.
</fn1>
<fn2>
2. SIGNIFICANT ACCOUNTING POLICIES
The following is a summary of significant accounting policies of the Series
Account which are in accordance with the
accounting principles generally accepted in the investment company industry:
a. Security Transactions - Security transactions are recorded on the trade
date. Cost of investments sold is determined
on the basis of identified cost.
Dividend income is accrued as of the ex-dividend date and expenses are
accrued on a daily basis.
b. Security Valuation - The investments in shares of the Funds are valued at
the closing net asset value per share as
determined by each portfolio at year end.
The cost of investments represents shares of the Funds which were purchased
by the Series Account. Purchases are
made at the net asset value from net purchase payments or through
reinvestment of all distributions from the Funds.
c. Federal Income Taxes - The Series Account income is automatically applied
to increase contract reserves. Under
existing federal income tax law, this income is not taxed to the extent it is
applied to increase reserves under a
contract. The Company reserves the right to charge the Series Account for
federal income taxes attributable to the
Series Account if such taxes are imposed in the future.
</fn2>
<fn3>
3. CHARGES UNDER THE CONTRACTS
a. Contract Maintenance Charge - On the last valuation date of each contract
year before the retirement date, the
Company deducts from each participant account a maintenance charge of $30 for
contracts purchased before
September 24, 1984 and $35 for contracts purchased after September 24, 1984,
as compensation for the
administrative services provided to contract owners. To compensate the
Company for administrative services for
contracts issued after September 19, 1994, a contract maintenance charge of
not more than $60 is deducted from
each participant account on the first day of each calendar year. If the
account is established after the beginning of
the year, the charge is deducted on the first day of the next calendar
quarter and prorated for the portion of the year
remaining.
b. Charges Incurred for Total or Partial Surrenders - Certain contracts
contain provisions relating to a contingent
deferred sales charge. In such contracts, charges will be made for total or
partial surrender of a participant annuity
account in excess of the "free amount" before the retirement date by a
deduction from a participant's account. The
"free amount" is an amount equal to 10% of the participant account value at
December 31 of the calendar year prior
to the partial or total surrender.
c. Deductions for Assumption of Mortality and Expense Risks - The Company
deducts an amount, computed daily,
from the net asset value of the Series Account investments, equal to an
annual rate of 1.25% (1.00% allocable to
mortality risk and .25% allocable to expense risk) for the contracts
purchased before September 24, 1984. For
contracts purchased after September 24, 1984, the annual rate is 1.40%
(1.00% allocable to the mortality risk and
.40% allocable to the expense risk). For contracts purchased after September
19, 1995, the annual rate is 1.25%
(.85% allocable to the mortality risk and .40% allocable to the expense
risk).
This charge is designed to compensate
the Company for its assumption of certain mortality, death benefit and
expense risks. The level of this charge is
guaranteed and will not change.
Deductions for Premium Taxes - The Company will pay any applicable
premium tax or other tax, levied by any
government, when due. If the contract value is used to purchase an annuity
under the annuity options, the dollar
amount of any premium tax previously paid or payable upon annuitization by
the Company will be charged against
the contract value.
</fn3>
<fn4>
4. RELATED-PARTY SERVICES
The Company's parent, The Great-West Life Assurance Company, serves as
investment advisor to Maxim Series Fund, Inc.
Fees are assessed against the average daily net asset value of the Funds to
compensate The Great-West Life Assurance
Company for investment advisory services.
</fn4>
<fn5>
5. COMPONENTS OF NET ASSETS APPLICABLE TO OUTSTANDING UNITS OF CAPITAL
The following is a summary of the net assets applicable to outstanding
units of capital at June 30, 1995, for each investment
division.
Total Maxim I
Variable
Annuity
CONTRACTS ISSUED BEFORE
Contract
SEPTEMBER 24, 1984
Units
Unit Value
Liabilities
<S>
NET ASSETS APPLICABLE TO
<S>
OUTSTANDING UNITS OF CAPITAL:
Investment Division:
Money Market\Non-Qualified
2,025.7557
$
20.484723
$
41,497
Money Market\Qualified
5,582.5594
20.454827
114,190
Bond\Non-Qualified
2,735.0230
31.527779
86,229
Bond\Qualified
524.1416
28.717000
15,052
Stock Index\Qualified
176.4215
38.262573
6,750
Total Return\Non-Qualified
2,303.6873
16.529848
38,080
TOTAL
$
301,798
Total Maxim II
Variable
Annuity
CONTRACTS ISSUED AFTER
Contract
SEPTEMBER 24, 1984
Units
Unit Value
Liabilities
NET ASSETS APPLICABLE TO OUTSTANDING
UNITS OF CAPITAL:
Investment Division:
Money Market\Non-Qualified
109,235.0204
$
16.244628
$
1,774,482
Money Market\Qualified
114,301.2131
16.042371
1,833,662
Bond\Non-Qualified
88,690.1854
23.403763
2,075,684
Bond\Qualified
113,708.5993
23.590912
2,682,490
Stock Index\Non-Qualified
190,039.2219
30.600012
5,815,202
Stock Index\Qualified
235,439.9680
31.055960
7,311,814
U.S. Government Securities/Non-Qualified
355,435.4009
21.812003
7,752,758
U.S. Government Securities/Qualified
247,957.6044
21.594196
5,354,445
Total Return/Non-Qualified
254,869.2703
16.959679
4,322,501
TCI Growth
19,285.6148
12.844133
247,707
TCI Balanced
29,744.5559
11.880507
353,380
TOTAL
$
39,524,125
Total Maxim III
Variable
Annuity
CONTRACTS ISSUED AFTER
Contract
SEPTEMBER 19, 1994
Units
Unit Value
Liabilities
NET ASSETS APPLICABLE TO
OUTSTANDING UNITS OF CAPITAL:
Investment Division:
Bond
455.6187
10.690399
$
4,871
U.S. Government Securities
195.6891
10.591828
2,073
Mid-Cap
9,706.6103
11.461570
111,253
INVESCO ADR
2,469.8144
10.299979
25,439
INVESCO Small-Cap Growth
1,830.8002
11.473856
21,006
Stock Index
4,768.3846
11.559605
55,121
Small-Cap Index
2,051.5306
11.008045
22,583
Total Return
2,256.1633
10.912791
24,621
T. Rowe Price Equity/Income
5,558.5571
11.200629
62,259
Small-Cap Value Fund
697.9225
10.733277
7,491
TCI Growth
1,075.6259
11.869647
12,767
TCI Balanced
368.3157
11.025949
4,061
TOTAL
$
353,545
</fn5>
<fn6>
6. SELECTED DATA
The following is a summary of selected data for a unit of capital of the
Series Account at the beginning and end of the year and the number of
units outstanding at June 30, 1995 and December 1994,
1993, 1992, and 1991, by investment division:
Contracts Issued
Money Market
Money Market
Bond
Bond
Stock Index
Total Return
Before September 24, 1984
Non-Qualified
Qualified
Non-Qualified
Qualified
Qualified
Non-Qualified
JUNE 30, 1995
Beginning Unit Value
$ 20.04
$ 20.01
$ 28.77
$ 26.21
$ 32.29
$ 14.65
Ending Unit Value
$ 20.48
$ 20.45
$ 31.53
$ 28.72
$ 38.26
$ 16.53
Number of Units Outstanding
2,025.76
5,582.56
2,735.02
524.14
176.42
2,303.69
1994
Beginning Unit Value
$ 19.54
$ 19.51
$ 29.84
$ 27.18
$ 32.65
$ 15.24
Ending Unit Value
$ 20.04
$ 20.01
$ 28.77
$ 26.21
$ 32.29
$ 14.65
Number of Units Outstanding
2,027.25
718.03
2,735.02
2,001.77
1,700.61
2,303.69
1993
Beginning Unit Value
$ 19.23
$ 19.21
$ 27.83
$ 25.36
$ 30.10
$ 13.75
Ending Unit Value
$ 19.54
$ 19.51
$ 29.84
$ 27.18
$ 32.65
$ 15.24
Number of Units Outstanding
2,031.80
720.03
2,738.15
2,004.45
2,221.73
1,192.30
1992
Beginning Unit Value
$ 18.82
$ 18.79
$ 26.52
$ 24.17
$ 28.79
$ 13.21
Ending Unit Value
$ 19.23
$ 19.21
$ 27.83
$ 25.36
$ 30.10
$ 13.75
Number of Units Outstanding
1,003.50
1,892.89
3,360.64
2,300.77
2,651.87
1,510.03
1991
Beginning Unit Value
$ 18.00
$ 17.97
$ 23.41
$ 21.34
$ 23.64
$ 10.96
Ending Unit Value
$ 18.82
$ 18.79
$ 26.52
$ 24.17
$ 28.79
$ 13.21
Number of Units Outstanding
1,006.66
1,896.42
3,363.88
2,304.07
3,867.94
3,184.91
(Continued)
U.S. Government
U.S. Government
Contracts Issued
Money Market
Money Market
Bond
Bond
Stock Index
Stock Index
Securities
Securities
Total Return
TCI
TCI
After September 24, 1984
Non-Qualified
Qualified
Non-Qualified
Qualified
Non-Qualified
Qualified
Non-Qualified
Qualified
Non-Qualified
Growth
Balanced
JUNE 30, 1995
Beginning Unit Value
$ 15.90
$ 15.71
$ 21.37
$ 21.54
$ 25.81
$ 26.19
$ 19.98
$ 19.78
$ 15.04
$ 10.82
$ 10.62
Ending Unit Value
$ 16.24
$ 16.04
$ 23.40
$ 23.59
$ 30.60
$ 31.06
$ 21.81
$ 21.59
$ 16.96
$ 12.84
$ 11.88
Number of Units Outstanding
109,235.02
114,301.21
88,690.19
113,708.60
190,039.22
235,439.97
355,435.40
247,957.60
254,869.27
19,285.61
29,744.56
1994
Beginning Unit Value
$ 15.53
$ 15.33
$ 22.20
$ 22.38
$ 26.13
$ 26.52
$ 20.93
$ 20.72
$ 15.67
$ 11.11
$ 10.71
Ending Unit Value
$ 15.90
$ 15.71
$ 21.37
$ 21.54
$ 25.81
$ 26.19
$ 19.98
$ 19.78
$ 15.04
$ 10.82
$ 10.62
Number of Units Outstanding
125,420.05
127,897.77
95,366.99
113,313.38
219,588.42
263,158.31
415,446.66
284,597.25
335,713.57
21,121.89
27,124.38
1993
Beginning Unit Value
$ 15.31
$ 15.12
$ 20.74
$ 20.90
$ 24.12
$ 24.48
$ 19.41
$ 19.21
$ 14.16
$ 10.20
$ 10.08
Ending Unit Value
$ 15.53
$ 15.33
$ 22.20
$ 22.38
$ 26.13
$ 26.52
$ 20.93
$ 20.72
$ 15.67
$ 11.11
$ 10.71
Number of Units Outstanding
135,293.72
105,196.10
154,786.15
147,002.74
284,941.95
332,747.75
649,198.60
417,423.10
438,337.99
44,619.57
33,951.49
1992
Beginning Unit Value
$ 15.00
$ 14.82
$ 19.79
$ 19.95
$ 23.11
$ 23.45
$ 18.06
$ 17.88
$ 13.62
$ 10.00
$ 10.00
Ending Unit Value
$ 15.31
$ 15.12
$ 20.74
$ 20.90
$ 24.12
$ 24.48
$ 19.41
$ 19.21
$ 14.16
$ 10.20
$ 10.08
Number of Units Outstanding
178,042.42
183,558.09
186,256.95
173,575.16
331,096.23
414,325.07
816,505.97
505,474.92
542,293.10
15,624.73
2,641.92
1991
Beginning Unit Value
$ 14.37
$ 14.19
$ 17.50
$ 17.64
$ 18.99
$ 19.28
$ 16.02
$ 15.86
$ 11.32
Ending Unit Value
$ 15.00
$ 14.82
$ 19.79
$ 19.95
$ 23.11
$ 23.45
$ 18.06
$ 17.88
$ 13.62
Number of Units Outstanding
284,668.71
363,738.75
252,185.60
212,576.52
388,401.51
472,092.05
1,053,158.69
654,340.84
618,231.93
(Continued)
U.S.
INVESCO
Small-Cap
Government
INVESCO
Small-Cap
Stock
Small-Cap
Total
T. Rowe Price
Value
TCI
TCI
Bond
Securities
Mid-Cap
ADR
Growth
Index
Index
Return
Equity/Income
Fund
Growth
Balanced
Contrracts Issued After
(B)
(A)
(A)
(A)
(C)
(B)
September 19, 1994
JUNE 30, 1995
Beginning Unit Value
$ 9.76
$ 10.00
$ 10.80
$ 10.00
$ 10.00
$ 9.74
$ 9.77
$ 9.67
$ 10.00
$ 10.00
$ 10.00
$ 9.85
Ending Unit Value
$ 10.69
$ 10.59
$ 11.46
$ 10.30
$ 11.47
$ 11.56
$ 11.01
$ 10.91
$ 11.20
$ 10.73
$ 11.87
$ 11.03
Number of Units Outstanding
455.62
195.70
9,706.61
2,469.81
1,830.80
4,768.38
2,051.53
2,256.16
5,558.56
697.92
1,075.63
368.32
1994
Beginning Unit Value
$ 10.00
$ 10.00
$ 10.00
$ 10.00
$ 10.00
$ 10.00
Ending Unit Value
$ 9.76
$ 10.80
$ 9.74
$ 9.77
$ 9.67
$ 9.85
Number of Units Outstanding
455.62
4,508.26
2,306.48
986.29
2,085.24
199.55
(A) The Investment Division commenced operations on January 6, 1995 at a
unit value of $10.00.
(B) The Investment Division commenced operations on January 18, 1995 at a
unit value of $10.00.
(C) The Investment Division commenced operations on March 9, 1995 at a unit
value of $10.00.
</fn6>
<fn7>
7. CHANGE IN SHARES
The following is a summary of the net change in the total investment
shares held in each of the respective mutual
funds:
Six Months Ended June 30,
1995
1994
CONTRACTS ISSUED BEFORE SEPTEMBER 24, 1984
Maxim Series Fund, Inc.
- - Money Market/Non-Qualified
901
378
Maxim Series Fund, Inc.
- - Money Market/Qualified
99,824
136
Maxim Series Fund, Inc.
- - Bond/Non-Qualified
1,748
1,373
Maxim Series Fund, Inc.
- - Bond/Qualified
(33,804)
891
Maxim Series Fund, Inc.
- - Stock Index/Qualified
(32,815)
(10,722)
Maxim Series Fund, Inc.
- - Total Return/Non-Qualified
401
14,331
CONTRACTS ISSUED AFTER SEPTEMBER 24, 1984
Maxim Series Fund, Inc.
- - Money Market/Non-Qualified
(218,416)
282,282
Maxim Series Fund, Inc.
- - Money Market/Qualified
(173,413)
(47,947)
Maxim Series Fund, Inc.
- - Bond/Non-Qualified
(84,654)
(243,134)
Maxim Series Fund, Inc.
- - Bond/Qualified
60,553
(256,625)
Maxim Series Fund, Inc.
- - Stock Index/Non-Qualified
(495,796)
(410,553)
Maxim Series Fund, Inc.
- - Stock Index/Qualified
(468,362)
(774,464)
Maxim Series Fund, Inc.
- - U.S. Government Securities/Non-Qualified
(989,864)
(2,374,021)
Maxim Series Fund, Inc.
- - U.S. Government Securities/Qualified
(581,783)
(1,050,615)
Maxim Series Fund, Inc.
- - Total Return/Non-Qualified
(1,038,234)
(617,962)
TCI Portfolios, Inc.
- - TCI Growth
(2,257)
(13,283)
TCI Portfolios, Inc.
- - TCI Balanced
4,924
2,371
CONTRACTS ISSUED AFTER SEPTEMBER 19, 1994
Maxim Series Fund, Inc.
- - Bond
113
Maxim Series Fund, Inc.
- - U.S. Government Securities
1,929
Maxim Series Fund, Inc.
- - INVESCO ADR
24,727
Maxim Series Fund, Inc.
- - INVESCO Small-Cap Growth
18,294
Maxim Series Fund, Inc.
- - Mid-Cap
50,530
Maxim Series Fund, Inc.
- - Small-Cap Index
10,859
Maxim Series Fund, Inc.
- - Stock Index
36,148
Maxim Series Fund, Inc.
- - Total Return
1,656
Maxim Series Fund, Inc.
- - T. Rowe Price Equity/Income
56,129
Maxim Series Fund, Inc.
- - Small-Cap Value
7,204
TCI Portfolios, Inc.
- - TCI Growth
1,162
TCI Portfolios, Inc.
- - TCI Balanced
282
</fn7>
</TABLE>
<TABLE>
MAXIM SERIES FUND, INC.
<S>
STATEMENT OF ASSETS AND LIABILITIES
JUNE 30, 1995
<S>
(Unaudited)
<C>
<C>
<C>
MONEY
<C>
STOCK
BOND
MID-CAP
MARKET
INDEX
PORTFOLIO
PORTFOLIO
PORTFOLIO
PORTFOLIO
<CAPTION>
ASSETS:
Investments at value:
Short-term investments
$
940,000
$
9,127,041
$
240,779,692
$
7,144,306
Bonds
73,775,032
Common stocks
86,756,642
597,969,421
Preferred stocks
6,705,961
Total investments (cost $73,465,829;
$93,578,190; $240,779,692; $485,956,117)
74,715,032
102,589,644
240,779,692
605,113,727
Cash
4,067,665
330,325
Dividends and interest receivable
1,759,383
51,778
577,467
1,377,011
Receivables for investments sold
Total assets
76,474,415
106,709,087
241,687,484
606,490,738
LIABILITIES:
Dividends payable to The Great-West Life
Assurance Company
36,941
Payables for investments purchased
41,852
970,351
241,575
564,344
Other liabilities
94,690
215,223
437,809
Total liabilities
136,542
1,185,574
278,516
1,002,153
NET ASSETS
$
76,337,873
$
105,523,513
$
241,408,968
$
605,488,585
NET ASSETS REPRESENTED BY:
Capital stock, $.10 par value
$
6,285,065
$
8,987,580
$
24,124,571
$
34,197,668
Additional paid-in capital
70,483,548
88,968,192
217,284,397
450,057,187
Net unrealized appreciation on investments
1,249,203
9,011,454
119,157,610
Undistributed net investment income (loss)
12,951
(1,622)
181,353
Accumulated undistributed net realized
gain (loss) on investments
(1,692,894)
(1,385,083)
1,894,767
Net unrealized (depreciation) on translation of
assets and liabilities denominated in
foreign currencies
(57,008)
NET ASSETS
$
76,337,873
$
105,523,513
$
241,408,968
$
605,488,585
NET ASSET VALUE PER OUTSTANDING SHARE
$
1.2146
$
1.1741
$
1.0007
$
1.7706
SHARES OF CAPITAL STOCK:
Authorized
200,000,000
200,000,000
300,000,000
500,000,000
Outstanding
62,850,646
89,875,801
241,245,714
341,976,684
See notes to financial statements.
(Continued)
</TABLE>
<TABLE>
MAXIM SERIES FUND, INC.
<S>
STATEMENT OF ASSETS AND LIABILITIES
<S>
JUNE 30, 1995
(Unaudited)
<C>
TOTAL
<C>
U.S. GOVERNMENT
<C>
ZERO-COUPON
RETURN
SECURITIES
1995 TREASURY
PORTFOLIO
PORTFOLIO
PORTFOLIO
<CAPTION>
ASSETS:
Investments at value:
Short-term investments
$
2,199,000
$
9,870,628
$
Bonds
19,300,650
61,402,822
975,009
Common stocks
26,871,569
Preferred stocks
Total investments (cost $43,235,025;
$69,540,960; $957,495)
48,371,219
71,273,450
975,009
Cash
1,342
2,068
Dividends and interest receivable
496,501
475,311
365
Receivables for investments sold
855,683
150
Total assets
49,723,403
71,750,103
977,592
LIABILITIES:
Dividends payable to The Great-West Life
Assurance Company
Payables for investments purchased
8,388,883
Other liabilities
92,858
Total liabilities
92,858
8,388,883
0
NET ASSETS
$
49,630,545
$
63,361,220
$
977,592
NET ASSETS REPRESENTED BY:
Capital stock, $.10 par value
$
3,961,689
$
5,875,476
$
43,082
Additional paid-in capital
40,166,181
58,744,191
92,727
Net unrealized appreciation on investment
5,136,194
1,732,490
17,514
Undistributed net investment income
3,131
141,728
824,051
Accumulated undistributed net realized
gain (loss) on investment
363,350
(3,132,665)
218
Net unrealized (depreciation) on translation of
assets and liabilities denominated in
foreign currencies
NET ASSETS
$
49,630,545
$
63,361,220
$
977,592
NET ASSET VALUE PER OUTSTANDING SHARE
$
1.2528
$
1.0784
$
2.2691
SHARES OF CAPITAL STOCK:
Authorized
100,000,000
100,000,000
100,000,000
Outstanding
39,616,887
58,754,762
430,821
See notes to financial statements.
(Concluded)
</TABLE>
<TABLE>
MAXIM SERIES FUND, INC.
<S>
STATEMENT OF OPERATIONS
<S>
SIX MONTHS ENDED JUNE 30, 1995
(Unaudited)
<C>
<C>
<C>
MONEY
<C>
STOCK
BOND
MID-CAP
MARKET
INDEX
PORTFOLIO
PORTFOLIO
PORTFOLIO
PORTFOLIO
<CAPTION>
INVESTMENT INCOME:
Interest
$
2,405,523
$
359,600
$
6,556,335
$
199,094
Dividends
246,683
7,269,505
Total income
2,405,523
606,283
6,556,335
7,468,599
EXPENSES:
Salaries
27,424
Legal
24,911
Directors' fees
685
Accounting
2,500
Bank and custodial fees
32,440
Other expenses
11,177
Foreign withholding tax
14,761
Management fee
215,820
439,278
492,463
1,691,740
Total expenses
215,820
553,176
492,463
1,691,740
Less amount paid by The Great-West Life Assurance Company
29,778
Net expenses
215,820
523,398
492,463
1,691,740
NET INVESTMENT INCOME
2,189,703
82,885
6,063,872
5,776,859
REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) on investments
(104,475)
(331,285)
1,894,765
Change in net unrealized appreciation on investments
4,949,755
6,914,188
89,499,588
Change in net unrealized (depreciation) on translation of
assets and liabilities denominated in foreign currencies
(75,770)
Net change in realized and unrealized appreciation
on investments
4,845,280
6,507,133
0
91,394,353
NET INCREASE IN NET ASSETS RESULTING
FROM OPERATIONS
$
7,034,983
$
6,590,018
$
6,063,872
$
97,171,212
</TABLE>
<TABLE>
MAXIM SERIES FUND, INC.
<S>
STATEMENT OF OPERATIONS
<S>
SIX MONTHS ENDED JUNE 30, 1995
(Unaudited)
<C>
<C>
U.S.
<C>
TOTAL
GOVERNMENT
ZERO-COUPON
RETURN
SECURITIES
1995 TREASURY
PORTFOLIO
PORTFOLIO
PORTFOLIO
<CAPTION>
INVESTMENT INCOME:
Interest
$
132,829
$
2,349,826
$
38,994
Dividends
872,086
Total income
1,004,915
2,349,826
38,994
EXPENSES:
Salaries
Legal
Directors' fees
Accounting
Bank and custodial fees
Other expenses
Management fee
136,576
180,838
2,425
Total expenses
136,576
180,838
2,425
Less amount paid by The Great-West Life Assurance Company
Net expenses
136,576
180,838
2,425
NET INVESTMENT INCOME
868,339
2,168,988
36,569
REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain on investments
363,350
810,853
218
Change in net unrealized appreciation (depreciation) on investments
4,609,660
2,739,151
(854)
Change in net unrealized (depreciation) on translation of
assets and liabilities denominated in foreign currencies
Net change in realized and unrealized appreciation
(depreciation) on investments
4,973,010
3,550,004
(636)
NET INCREASE IN NET ASSETS RESULTING
FROM OPERATIONS
$
5,841,349
$
5,718,992
$
35,933
</TABLE>
<TABLE>
MAXIM SERIES FUND, INC.
<S>
STATEMENTS OF CHANGES IN NET ASSETS
<S>
SIX MONTHS ENDED JUNE 30, 1995 AND 1994
(Unaudited)
<C>
BOND
<C>
MID-CAP
<C>
MONEY MARKET
<C>
STOCK INDEX
PORTFOLIO
PORTFOLIO
PORTFOLIO
PORTFOLIO
1995
1994
1995
1994
1995
1994
1995
1994
<CAPTION>
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS:
Net investment income
$
2,189,703
$
2,020,583
$
82,885
$
7,531
$
6,063,872
$
1,964,887
$
5,776,859
$
5,744,928
Net realized gain (loss)
(104,475)
(738,436)
(331,285)
(196,112)
1,894,765
1,518,890
Change in net unrealized appreciation (depreciation)
4,949,755
(3,508,072)
6,904,630
(72,729)
89,499,588
(30,470,889)
Change in net unrealized appreciation (depreciation) on
translation of assets and liabilities in foreign currencies
(66,212)
3,281
Net increase (decrease) in net assets resulting from operations
7,034,983
(2,225,925)
6,590,018
(258,029)
6,063,872
1,964,887
97,171,212
(23,207,071)
DISTRIBUTIONS TO SHAREHOLDERS:
From net investment income
(2,176,752)
(2,009,411)
(84,507)
(7,543)
(6,063,872)
(1,964,887)
(5,595,506)
(5,723,855)
Total distributions
(2,176,752)
(2,009,411)
(84,507)
(7,543)
(6,063,872)
(1,964,887)
(5,595,506)
(5,723,855)
SHARE TRANSACTIONS:
Net proceeds from sales of shares
11,881,846
13,454,888
28,906,601
3,848,717
158,154,276
108,749,831
89,464,433
140,484,060
Reinvestment of distributions
2,176,752
2,009,411
84,507
7,543
6,026,931
1,948,365
5,595,506
5,723,855
Cost of shares redeemed
(11,544,255)
(20,691,479)
(11,061,760)
(34,233)
(109,359,501)
(58,737,580)
(78,487,052)
(141,558,836)
Net increase (decrease) in net assets resulting from
share transactions
2,514,343
(5,227,180)
17,929,348
3,822,027
54,821,706
51,960,616
16,572,887
4,649,079
Total increase (decrease) in net assets
7,372,574
(9,462,516)
24,434,859
3,556,455
54,821,706
51,960,616
108,148,593
(24,281,847)
NET ASSETS:
Beginning of period
68,965,299
84,696,187
81,088,654
186,587,262
96,997,973
497,339,992
562,189,394
End of period
$
76,337,873
$
75,233,671
$
105,523,513
$
3,556,455
$
241,408,968
$
148,958,589
$
605,488,585
$
537,907,547
OTHER INFORMATION:
SHARES:
Sold
10,123,573
5,063,885
26,120,835
3,901,939
158,047,324
66,566,029
54,898,838
41,267,560
Issued in reinvestment of distributions
1,843,913
1,690,624
74,590
8,300
6,022,855
1,947,048
3,286,858
3,850,810
Redeemed
(9,866,618)
(11,008,340)
(10,017,026)
(11,023)
(109,285,547)
(16,587,600)
(48,266,493)
(41,472,274)
Net increase (decrease)
2,100,868
(4,253,831)
16,178,399
3,899,216
54,784,632
51,925,477
9,919,203
3,646,096
</TABLE>
<TABLE>
MAXIM SERIES FUND, INC.
<S>
STATEMENTS OF CHANGES IN NET ASSETS
<S>SIX MONTHS ENDED JUNE 30, 1995 AND 1994
(Unaudited)
<C>
<C>
<C>
ZERO-COUPON
TOTAL RETURN
U.S. GOVERNMENT
1995 TREASURY
PORTFOLIO
SECURITIES PORTFOLIO
PORTFOLIO
1995
1994
1995
1994
1995
1994
<CAPTION>
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS:
Net investment income
$
868,339
$
544,904
$
2,168,988
$
1,291,041
$
36,569
$
40,815
Net realized gain (loss)
363,350
362,246
810,853
(1,543,018)
218
4,982
Change in net unrealized appreciation (depreciation)
4,609,660
(2,195,795)
2,739,151
(2,119,188)
(854)
(50,081)
Change in net unrealized appreciation (depreciation) on
translation of assets and liabilities in foreign currencies
Net increase (decrease) in net assets resulting from operations
5,841,349
(1,288,645)
5,718,992
(2,371,165)
35,933
(4,284)
DISTRIBUTIONS TO SHAREHOLDERS:
From net investment income
(865,208)
(542,397)
(1,997,260)
(1,281,288)
Total distributions
(865,208)
(542,397)
(1,997,260)
(1,281,288)
0
0
SHARE TRANSACTIONS:
Net proceeds from sales of shares
12,301,702
12,614,191
9,684,089
24,819,023
44,023
Reinvestment of distributions
865,209
542,397
1,997,260
1,281,288
Cost of shares redeemed
(9,861,024)
(11,805,602)
(8,380,096)
(16,434,538)
(61,561)
(63,026)
Net increase (decrease) in net assets resulting from
share transactions
3,305,887
1,350,986
3,301,253
9,665,773
(17,538)
(63,026)
Total increase (decrease) in net assets
8,282,028
(480,056)
7,022,985
6,013,320
18,395
(67,310)
NET ASSETS:
Beginning of period
41,348,517
39,297,459
56,338,235
51,424,663
959,197
1,072,549
End of period
$
49,630,545
$
38,817,403
$
63,361,220
$
57,437,983
$
977,592
$
1,005,239
OTHER INFORMATION:
SHARES:
Sold
10,419,448
8,831,397
9,334,751
12,885,787
19,568
Issued in reinvestment of distributions
714,309
467,402
1,896,472
1,201,319
Redeemed
(8,309,168)
(8,079,273)
(8,049,916)
(5,325,812)
(27,385)
(29,003)
Net increase (decrease)
2,824,589
1,219,526
3,181,307
8,761,294
(7,817)
(29,003)
</TABLE>
<TABLE>
MAXIM SERIES FUND, INC.
<S>
BOND PORTFOLIO
<S>
FINANCIAL HIGHLIGHTS
(Unaudited)
Selected data for a share of capital stock of the portfolio for the six
months ended June 30, 1995 and the years ended December
31, 1994, 1993, 1992, and 1991 were as follows:
<C>
Six Months
Ended
June 30,
<C>
Year Ended December 31,
1995
1994
1993
1992
1991
<CAPTION>
Net Asset Value, Beginning of Period
$
1.1352
$
1.2274
$
1.2259
$
1.2929
$
1.2312
Income From Investment Operations
Net investment income
0.0357
0.0634
0.0632
0.0831
0.0939
Net realized and unrealized gain (loss)
0.0792
(0.0922)
0.0326
(0.0053)
0.0798
Total Income (Loss) From Investment
Operations
0.1149
(0.0288)
0.0958
0.0778
0.1737
Less Distributions
From net investment income
(0.0355)
(0.0634)
(0.0632)
(0.0760)
(0.0884)
From net realized gains
(0.0311)
(0.0688)
(0.0236)
Total Distributions
(0.0355)
(0.0634)
(0.0943)
(0.1448)
(0.1120)
Net Asset Value, End of Period
$
1.2146
$
1.1352
$
1.2274
$
1.2259
$
1.2929
Total Return
22.16% *
(2.36)%
8.56%
6.24%
14.70%
Net Assets, End of Period
$
76,337,873
$
68,965,299
$
84,696,187
$
69,974,484
$
88,545,656
Ratio of Expenses to Average Net Assets
0.60% *
0.60%
0.60%
0.60%
0.60%
Ratio of Net Investment Income to
Average Net Assets
6.08% *
5.33%
5.02%
5.93%
7.64%
Portfolio Turnover Rate
97.73%
60.85%
164.32%
157.97%
168.18%
* Annualized
</TABLE>
<TABLE>
MAXIM SERIES FUND, INC.
<S>
MONEY MARKET PORTFOLIO
<S>
FINANCIAL HIGHLIGHTS
(Unaudited)
Selected data for a share of capital stock of the portfolio for the six
months ended June 30, 1995 and the years ended
December 31, 1994, 1993, 1992, and 1991 were as follows:
<C>
<C>
Six Months
Ended
June 30,
Year Ended December 31,
1995
1994
1993
1992
1991
<CAPTION>
Net Asset Value,
Beginning of Period
$
1.0007
$
1.0007
$
1.0007
$
1.0006
$
1.0005
Income From Investment Operations
Net investment income
0.0020
0.0394
0.0278
0.0343
0.0565
Net realized and unrealized gains
0.0001
0.0001
Total Income From Investment
Operations
0.0020
0.0394
0.0278
0.0344
0.0566
Less Distributions
From net investment income
(0.0020)
(0.0394)
(0.0278)
(0.0343)
(0.0565)
Net Asset Value, End of Period
$
1.0007
$
1.0007
$
1.0007
$
1.0007
$
1.0006
Net Assets, End of Period
$
241,408,968
$
186,587,262
$
96,997,973
$
64,220,562
$
52,118,377
Ratio of Expenses to
Average Net Assets
0.46% *
0.46%
0.46%
0.46%
0.48%
Ratio of Net Investment Income to
Average Net Assets
5.66% *
3.96%
2.82%
3.43%
6.15%
* Annualized
</TABLE>
<TABLE>
MAXIM SERIES FUND, INC.
<S>
MID-CAP PORTFOLIO
<S>
FINANCIAL HIGHLIGHTS
(Unaudited)
Selected data for a share of capital stock of the portfolio for the six
months ended June 30, 1995 and the period
ended December 31, 1994 were as follows:
<C>
<C>
Six Months
Ended
Period Ended
June 30,
December 31,
1995
1994
<CAPTION>
Net Asset Value, Beginning of Period
$
1.1003
$
1.0000
Income From Investment Operations
Net investment income
0.0010
0.0076
Net realized and unrealized gain
0.0738
0.1003
Total Income From Investment Operations
0.0748
0.1079
Less Distributions
From net investment income
(0.0010)
(0.0076)
From net realized gains
Total Distributions
(0.0010)
(0.0076)
Net Asset Value, End of Period
$
1.1741
$
1.1003
Total Return
15.16% *
10.86%
Net Assets, End of Period
$
105,523,513
$
81,088,654
Ratio of Expenses to Average Net Assets
1.10% *#
1.07% #
Ratio of Net Investment Income to Average Net Assets
0.18% *
1.26%
Portfolio Turnover Rate
84.72%
166.12%
# Percentages are shown net of expenses reimbursed by The Great-West Life
Assurance Company.
* Annualized
</TABLE>
(Continued)
<TABLE>
MAXIM SERIES FUND, INC.
STOCK INDEX PORTFOLIO
<S>
FINANCIAL HIGHLIGHTS
<S>
(Unaudited)
Selected data for a share of capital stock of the portfolio for the six
months ended June 30, 1995 and the years ended
December 31, 1994, 1993, 1992, and 1991 were as follows:
<C>
Six Months
Ended
<C>
<C>
<C>
<C>
June 30,
Year Ended December 31,
<CAPTION>
1995
1994
1993
1992
1991
Net Asset Value,
Beginning of Period
$
1.4978
$
1.5575
$
1.4506
$
1.5206
$
1.3191
Income From Investment Operations
Net investment income
0.0171
0.0350
0.0320
0.0383
0.0563
Net realized and unrealized
gain (loss)
0.2723
(0.0335)
0.1097
0.0502
0.2492
Total Income From Investment
Operations
0.2894
0.0015
0.1417
0.0885
0.3055
Less Distributions
From net investment income
(0.0166)
(0.0350)
(0.0320)
(0.0382)
(0.0542)
From net realized gains
(0.0262)
(0.0028)
(0.1203)
(0.0498)
Total Distributions
(0.0166)
(0.0612)
(0.0348)
(0.1585)
(0.1040)
Net Asset Value, End of Period
$
1.7706
$
1.4978
$
1.5575
$
1.4506
$
1.5206
Total Return
43.10% *
0.14%
9.84%
5.87%
23.33%
Net Assets, End of Period
$
605,488,585
$
497,339,992
$
562,189,394
$
462,539,021
$
359,177,318
Ratio of Expenses to
Average Net Assets
0.60% *
0.60%
0.60%
0.60%
0.60%
Ratio of Net Investment Income
to Average Net Assets
2.10% *
2.23%
2.14%
2.49%
4.33%
Portfolio Turnover Rate
2.55%
11.98%
1.68%
118.83%
24.28%
* Annualized
</TABLE>
<TABLE>
MAXIM SERIES FUND, INC.
<S>
TOTAL RETURN PORTFOLIO
<S>
FINANCIAL HIGHLIGHTS
(Unaudited)
<C>
Selected data for a share of capital stock of the portfolio for the six
months ended June 30, 1995 and the years ended
December 31, 1994, 1993 1992, and 1991 were as follows:
<C>
Six Months
Ended
<C>
<C>
<C>
<C>
June 30,
Year Ended December 31,
1995
1994
1993
1992
1991
<CAPTION>
Net Asset Value, Beginning of Period
$
1.1238
$
1.2065
$
1.1327
$
1.1156
$
1.0017
Income From Investment Operations
Net investment income
0.0228
0.0382
0.0326
0.0424
0.0979
Net realized and unrealized
gain (loss)
0.1289
(0.0704)
0.1025
0.0165
0.1177
Total Income (Loss) From Investment
Operations
0.1517
(0.0322)
0.1351
0.0589
0.2156
Less Distributions
From net investment income
(0.0227)
(0.0382)
(0.0326)
(0.0375)
(0.0543)
From net realized gains
(0.0123)
(0.0287)
(0.0043)
(0.0474)
Total Distributions
(0.0227)
(0.0505)
(0.0613)
(0.0418)
(0.1017)
Net Asset Value, End of Period
$
1.2528
$
1.1238
$
1.2065
$
1.1327
$
1.1156
Total Return
29.52% *
(2.68)%
12.19%
5.45%
22.04%
Net Assets, End of Period
$
49,630,545
$
41,348,517
$
39,297,459
$
18,696,606
$
11,783,118
Ratio of Expenses to
Average Net Assets
0.60% *
0.60%
0.60%
0.60%
0.60%
Ratio of Net Investment Income to
Average Net Assets
3.82% *
3.30%
2.88%
3.56%
5.52%
Portfolio Turnover Rate
22.99%
74.85%
58.02%
29.26%
92.80%
* Annualized
</TABLE>
<TABLE>
MAXIM SERIES FUND, INC.
<S>
U.S. GOVERNMENT SECURITIES PORTFOLIO
<S>
FINANCIAL HIGHLIGHTS
(Unaudited)
Selected data for a share of capital stock of the portfolio for the six months ended June 30, 1995 and the years ended
December 31, 1994, 1993, 1992, and 1991 were as follows:
<C>
<C>
<C>
<C>
<C>
Six Months
Ended
June 30,
Year Ended December 31,
1995
1994
1993
1992
1991
<CAPTION>
Net Asset Value, Beginning of Period
$
1.0138
$
1.1061
$
1.1141
$
1.1206
$
1.0779
Income From Investment Operations
Net investment income
0.0377
0.0572
0.0881
0.1037
0.0775
Net realized and unrealized
gain (loss)
0.0616
(0.0924)
(0.0006)
(0.0069)
0.0709
Total Income (Loss) From Investment
Operations
0.0993
(0.0352)
0.0875
0.0968
0.1484
Less Distributions
From net investment income
(0.0347)
(0.0571)
(0.0887)
(0.0581)
(0.0839)
From net realized gains
(0.0068)
(0.0452)
(0.0218)
Total Distributions
(0.0347)
(0.0571)
(0.0955)
(0.1033)
(0.1057)
Net Asset Value, End of Period
$
1.0784
$
1.0138
$
1.1061
$
1.1141
$
1.1206
Total Return
21.46% *
(3.20)%
9.35%
8.94%
14.34%
Net Assets, End of Period
$
63,361,220
$
56,338,235
$
51,424,663
$
30,350,801
$
32,730,440
Ratio of Expenses to Average Net Assets
0.60% *
0.60%
0.60%
0.60%
0.60%
Ratio of Net Investment Income to
Average Net Assets
7.20% *
5.47%
8.49%
4.96%
8.09%
Portfolio Turnover Rate
128.99%
308.47%
27.28%
42.15%
213.79%
* Annualized
</TABLE>
<TABLE>
MAXIM SERIES FUND, INC.
<S>
ZERO-COUPON 1995 TREASURY PORTFOLIO
<S>
FINANCIAL HIGHLIGHTS
(Unaudited)
Selected data for a share of capital stock of the portfolio for the six
months ended June 30, 1995 and the years ended December
31, 1994, 1993, 1992, and 1991 were as follows:
<C>
Six Months
Ended
<C>
<C>
<C>
<C>
June 30,
Year Ended December 31,
1995
1994
1993
1992
1991
<CAPTION>
Net Asset Value, Beginning of Period
$
2.1868
$
2.1794
$
2.0587
$
2.0339
$
1.7671
Income From Investment Operations
Net investment income
0.1175
0.3595
0.2234
0.5395
0.1680
Net realized and unrealized
gain (loss)
(0.0352)
(0.3340)
(0.0904)
(0.4022)
0.0988
Total Income From Investment
Operations
0.0823
0.0255
0.1330
0.1373
0.2668
Less Distributions
From net realized gains
(0.0181)
(0.0123)
(0.1125)
Total Distributions
(0.0181)
(0.0123)
(0.1125)
Net Asset Value, End of Period
$
2.2691
$
2.1868
$
2.1794
$
2.0587
$
2.0339
Total Return
7.68% *
1.17%
6.46%
6.75%
16.19%
Net Assets, End of Period
$
977,592
$
959,197
$
1,072,549
$
1,061,441
$
1,592,205
Ratio of Expenses to Average Net Assets
0.50% *
0.50%
0.50%
0.50%
0.50%
Ratio of Net Investment Income to
Average Net Assets
7.52% *
8.12%
7.58%
7.97%
9.11%
* Annualized
</TABLE>
<TABLE>
<S>
MAXIM SERIES FUND, INC.
<S>
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
SIX MONTHS ENDED JUNE 30, 1995 AND 1994
(Unaudited)
<fn1>
1. HISTORY OF THE FUND
Maxim Series Fund, Inc. (the Fund) is a Maryland corporation organized on
December 7, 1981 as a diversified
open-end management investment company. Interests in the Bond, Mid-Cap,
Money Market, Stock Index, Total
Return, U.S. Government Securities, and Zero-Coupon 1995 Treasury Portfolios
(the Portfolios) are represented by
separate classes of beneficial interest of the Fund. Shares of the Fund are
sold only to Maxim Series Account,
Pinnacle Series Account, FutureFunds Series Account, FutureFunds Series
Account II, Qualified Series Account,
and Retirement Plan Series Account of Great-West Life & Annuity Insurance
Company (the Company), to fund
benefits under variable annuity contracts and variable life insurance
policies issued by the Company and to the TNE
Series (k) Account of The New England Mutual Life Assurance Company ("TNE")
to fund benefits under variable
annuity contracts issued by TNE. The shares are sold at a price equal to the
respective net asset value per share of
each class of shares.
Initial capitalization of $100,000 for the Fund was received on February 25,
1982 from The Great-West Life
Assurance Company (Great-West) (parent of the Company). With respect to the
Mid-Cap Portfolio, additional
capitalization of $2,500,000 was received on January 3, 1994.
At June 30, 1995, Great-West's investment in the
Portfolios totaled $612,414.
</fn1>
<fn2>
2. SIGNIFICANT ACCOUNTING POLICIES
The following is a summary of the significant accounting policies of the
Fund, which are in accordance with the
accounting principles generally accepted in the investment company industry:
Security Transactions
Security transactions are recorded at the earlier of trade date or the date
a commitment is made to buy or sell the
related investment. The cost of investments sold is determined on the basis
of average cost. Dividends from
investment income of the Money Market Portfolio are declared daily and
reinvested monthly. Dividends from
investment income of the Bond and U.S. Government Securities Portfolios are
declared and reinvested monthly.
Dividends from investment income of the Stock Index Portfolio, the Mid-Cap
Portfolio, and the Total Return
Portfolio are declared and reinvested quarterly.
The U.S. Government Securities Portfolio may enter into repurchase
agreements which settle at a specified future
date. Amounts owing to brokers under these agreements are included in
Payables for Investments Purchased in the
accompanying financial statements. These liabilities were $8,464,509 and
$18,514,588 at December 31, 1994 and
December 31, 1993, respectively, and are collateralized by securities of
approximately the same value.
The Zero-Coupon 1995 Treasury Portfolio uses the consent dividends
procedure whereby the shareholders consent
to treat as a dividend an amount specified in such consent even though
such dividends have not actually been paid.
The dividends are paid when the stripped Treasury securities mature and
cash is available for distribution.
Distributions of net capital gains are declared prior to the end of the
fiscal year in which they are earned and are
reinvested in additional shares of the Fund at net asset value.
Security Valuation
Securities traded on national securities exchanges are valued at the
closing prices of the securities on these
exchanges at year-end, and securities traded on over-the-counter markets
are valued at the average between the
quoted bid and asked prices at year-end. Short-term and money market
securities are valued at amortized cost,
which approximates market value.
Dividend income for the Portfolios is accrued as of the ex-dividend date
and interest income is recorded daily.
Foreign Currency Translation
The accounting records of the Mid-Cap Portfolio are maintained in U.S.
dollars. Investment securities, other assets
and liabilities denominated in a foreign currency are translated into U.S.
dollars at the current exchange rate.
Purchases and sales of securities, income receipts and expense payments are
translated into U.S. dollars at the
exchange rate on the dates of the transactions.
The Mid-Cap Portfolio isolates that portion of the results of operations
resulting from changes in foreign exchange
rates from the fluctuations arising from changes in market prices of
securities held.
Reported net realized foreign exchange gains or losses arise from sales of
portfolio securities, sales and maturities of
short-term securities, and currency gains or losses realized between the
amounts of dividends, interest, and foreign
withholding taxes recorded by the Mid-Cap Portfolio, and the U.S. dollar
equivalent of the amounts actually
received or paid. Net unrealized foreign exchange gains and losses arise
from changes in the value of assets and
liabilities including investments in securities at fiscal year end,
resulting from changes in the exchange rate.
Federal Income Taxes
For federal income tax purposes, each Portfolio qualifies as a regulated
investment company under the provisions of
the Internal Revenue Code by distributing substantially all of its taxable
net income (both ordinary and capital gain)
to its shareholders and complying with the requirements for regulated
investment companies. Accordingly, no
provision for federal income taxes has been made.
</fn2>
<fn3>
3. INVESTMENT ADVISORY AGREEMENT
The Fund has entered into an investment advisory agreement with Great-West.
As compensation for its services to
the Fund, the investment advisor receives monthly compensation at the
annual rate of .46% of the average daily net
assets of the Money Market, .50% of the average daily net assets of the
Zero-Coupon 1995 Treasury, .60% of the
average daily net assets of the Bond, Stock Index, Total Return, and U.S.
Government Securities, and .95% of the
average daily net assets of the Mid-Cap Portfolios. With respect to the
Mid-Cap Portfolio, the Fund shall pay all
expenses incurred in its operation. However, Great-West shall pay any
expenses of the Fund which exceed an
annual rate of 1.10% of the average daily net assets of the Mid Cap Portfolio.
</fn3>
<fn4>
4. PURCHASES AND SALES OF SECURITIES
Costs of purchases of U.S. Government obligations and other securities,
excluding short-term securities, during the
six months ended June 30, 1995 were:
U.S. Government Obligations
Other Securities
Portfolio
Bond
$
6,149,531
$
67,551,530
Mid-Cap
0
97,408,752
Money Market
0
1,753,290
Stock Index
0
25,093,941
Total Return
5,498,805
10,544,153
U.S. Government Securities
79,110,108
0
Zero-Coupon 1995 Treasury
0
0
The proceeds from sales of U.S. Government obligations and other
securities, excluding short-term securities,
during the six months ended June 30, 1995 were:
U.S. Government Obligations
Other Securities
Portfolio
Bond
$
11,182,969
$
55,198,759
Mid-Cap
0
67,328,286
Money Market
0
0
Stock Index
0
13,839,623
Total Return
4,942,219
4,474,993
U.S. Government Securities
74,473,352
0
Zero-Coupon 1995 Treasury
9,716
0
</fn4>
<fn5>
5. UNREALIZED APPRECIATION (DEPRECIATION)
Gross unrealized appreciation (depreciation) of securities is as
follows as of June 30, 1995:
U.S.
ZERO-COUPON
MONEY
STOCK
TOTAL
GOVERNMENT
1995
BOND
MID-CAP
MARKET
INDEX
RETURN
SECURITIES
TREASURY
PORTFOLIO
PORTFOLIO
PORTFOLIO
PORTFOLIO
PORTFOLIO
PORTFOLIO
PORTFOLIO
Gross appreciation
$
1,663,509
$
10,860,918
$
$
135,824,312
$
5,424,720
$
1,840,758
$
17,514
Gross depreciation
414,306
1,849,464
16,666,702
288,526
108,268
Net unrealized appreciation
<S>
(depreciation)
$
1,249,203
$
9,011,454
$
0
$
119,157,610
$
5,136,194
$
1,732,490
$
17,514
</fn5>
</TABLE>
<TABLE>
MAXIM SERIES FUND, INC.
<S>
STATEMENT OF ASSETS AND LIABILITIES
<S>
JUNE 30, 1995
(Unaudited)
<C>
<C>
<C>
MONEY
<C>
STOCK
BOND
MID-CAP
MARKET
INDEX
PORTFOLIO
PORTFOLIO
PORTFOLIO
PORTFOLIO
<CAPTION>
ASSETS:
Investments at value:
Short-term investments
$
940,000
$
9,127,041
$
240,779,692
$
7,144,306
Bonds
73,775,032
Common stocks
86,756,642
597,969,421
Preferred stocks
6,705,961
Total investments (cost $73,465,829;
$93,578,190; $240,779,692; $485,956,117)
74,715,032
102,589,644
240,779,692
605,113,727
Cash
4,067,665
330,325
Dividends and interest receivable
1,759,383
51,778
577,467
1,377,011
Receivables for investments sold
Total assets
76,474,415
106,709,087
241,687,484
606,490,738
LIABILITIES:
Dividends payable to The Great-West Life
Assurance Company
36,941
Payables for investments purchased
41,852
970,351
241,575
564,344
Other liabilities
94,690
215,223
437,809
Total liabilities
136,542
1,185,574
278,516
1,002,153
NET ASSETS
$
76,337,873
$
105,523,513
$
241,408,968
$
605,488,585
NET ASSETS REPRESENTED BY:
Capital stock, $.10 par value
$
6,285,065
$
8,987,580
$
24,124,571
$
34,197,668
Additional paid-in capital
70,483,548
88,968,192
217,284,397
450,057,187
Net unrealized appreciation on investments
1,249,203
9,011,454
119,157,610
Undistributed net investment income (loss)
12,951
(1,622)
181,353
Accumulated undistributed net realized
gain (loss) on investments
(1,692,894)
(1,385,083)
1,894,767
Net unrealized (depreciation) on translation of
assets and liabilities denominated in
foreign currencies
(57,008)
NET ASSETS
$
76,337,873
$
105,523,513
$
241,408,968
$
605,488,585
NET ASSET VALUE PER OUTSTANDING SHARE
$
1.2146
$
1.1741
$
1.0007
$
1.7706
SHARES OF CAPITAL STOCK:
Authorized
200,000,000
200,000,000
300,000,000
500,000,000
Outstanding
62,850,646
89,875,801
241,245,714
341,976,684
See notes to financial statements.
(Continued)
</TABLE>
<TABLE>
MAXIM SERIES FUND, INC.
STATEMENT OF ASSETS AND LIABILITIES
<S>
JUNE 30, 1995
<S>
(Unaudited)
<C>
TOTAL
<C>
U.S. GOVERNMENT
<C>
ZERO-COUPON
RETURN
SECURITIES
1995 TREASURY
PORTFOLIO
PORTFOLIO
PORTFOLIO
<CAPTION>
ASSETS:
Investments at value:
Short-term investments
$
2,199,000
$
9,870,628
$
Bonds
19,300,650
61,402,822
975,009
Common stocks
26,871,569
Preferred stocks
Total investments (cost $43,235,025;
$69,540,960; $957,495)
48,371,219
71,273,450
975,009
Cash
1,342
2,068
Dividends and interest receivable
496,501
475,311
365
Receivables for investments sold
855,683
150
Total assets
49,723,403
71,750,103
977,592
LIABILITIES:
Dividends payable to The Great-West Life
Assurance Company
Payables for investments purchased
8,388,883
Other liabilities
92,858
Total liabilities
92,858
8,388,883
0
NET ASSETS
$
49,630,545
$
63,361,220
$
977,592
NET ASSETS REPRESENTED BY:
Capital stock, $.10 par value
$
3,961,689
$
5,875,476
$
43,082
Additional paid-in capital
40,166,181
58,744,191
92,727
Net unrealized appreciation on investment
5,136,194
1,732,490
17,514
Undistributed net investment income
3,131
141,728
824,051
Accumulated undistributed net realized
gain (loss) on investment
363,350
(3,132,665)
218
Net unrealized (depreciation) on translation of
assets and liabilities denominated in
foreign currencies
NET ASSETS
$
49,630,545
$
63,361,220
$
977,592
NET ASSET VALUE PER OUTSTANDING SHARE
$
1.2528
$
1.0784
$
2.2691
SHARES OF CAPITAL STOCK:
Authorized
100,000,000
100,000,000
100,000,000
Outstanding
39,616,887
58,754,762
430,821
See notes to financial statements.
(Concluded)
</TABLE>
<TABLE>
MAXIM SERIES FUND, INC.
<S>
STATEMENT OF OPERATIONS
<S>
SIX MONTHS ENDED JUNE 30, 1995
(Unaudited)
<C>
<C>
<C>
MONEY
<C>
STOCK
BOND
MID-CAP
MARKET
INDEX
PORTFOLIO
PORTFOLIO
PORTFOLIO
PORTFOLIO
<CAPTION>
INVESTMENT INCOME:
Interest
$
2,405,523
$
359,600
$
6,556,335
$
199,094
Dividends
246,683
7,269,505
Total income
2,405,523
606,283
6,556,335
7,468,599
EXPENSES:
Salaries
27,424
Legal
24,911
Directors' fees
685
Accounting
2,500
Bank and custodial fees
32,440
Other expenses
11,177
Foreign withholding tax
14,761
Management fee
215,820
439,278
492,463
1,691,740
Total expenses
215,820
553,176
492,463
1,691,740
Less amount paid by The Great-West Life Assurance Company
29,778
Net expenses
215,820
523,398
492,463
1,691,740
NET INVESTMENT INCOME
2,189,703
82,885
6,063,872
5,776,859
REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) on investments
(104,475)
(331,285)
1,894,765
Change in net unrealized appreciation on investments
4,949,755
6,914,188
89,499,588
Change in net unrealized (depreciation) on translation of
assets and liabilities denominated in foreign currencies
(75,770)
Net change in realized and unrealized appreciation
on investments
4,845,280
6,507,133
0
91,394,353
NET INCREASE IN NET ASSETS RESULTING
FROM OPERATIONS
$
7,034,983
$
6,590,018
$
6,063,872
$
97,171,212
</TABLE>
<TABLE>
MAXIM SERIES FUND, INC.
<S>
STATEMENT OF OPERATIONS
<S>
SIX MONTHS ENDED JUNE 30, 1995
(Unaudited)
<C>
<C>
U.S.
<C>
TOTAL
GOVERNMENT
ZERO-COUPON
RETURN
SECURITIES
1995 TREASURY
PORTFOLIO
PORTFOLIO
PORTFOLIO
<CAPTION>
INVESTMENT INCOME:
Interest
$
132,829
$
2,349,826
$
38,994
Dividends
872,086
Total income
1,004,915
2,349,826
38,994
EXPENSES:
Salaries
Legal
Directors' fees
Accounting
Bank and custodial fees
Other expenses
Management fee
136,576
180,838
2,425
Total expenses
136,576
180,838
2,425
Less amount paid by The Great-West Life Assurance Company
Net expenses
136,576
180,838
2,425
NET INVESTMENT INCOME
868,339
2,168,988
36,569
REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain on investments
363,350
810,853
218
Change in net unrealized appreciation (depreciation) on investments
4,609,660
2,739,151
(854)
Change in net unrealized (depreciation) on translation of
assets and liabilities denominated in foreign currencies
Net change in realized and unrealized appreciation
(depreciation) on investments
4,973,010
3,550,004
(636)
NET INCREASE IN NET ASSETS RESULTING
FROM OPERATIONS
$
5,841,349
$
5,718,992
$
35,933
</TABLE>
<TABLE>
MAXIM SERIES FUND, INC.
<C>
STATEMENTS OF CHANGES IN NET ASSETS
<S>
SIX MONTHS ENDED JUNE 30, 1995 AND 1994
(Unaudited)
<C>
BOND
<C>
MID-CAP
<C>
MONEY MARKET
<C>
STOCK INDEX
PORTFOLIO
PORTFOLIO
PORTFOLIO
PORTFOLIO
1995
1994
1995
1994
1995
1994
1995
1994
<CAPTION>
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS:
Net investment income
$
2,189,703
$
2,020,583
$
82,885
$
7,531
$
6,063,872
$
1,964,887
$
5,776,859
$
5,744,928
Net realized gain (loss)
(104,475)
(738,436)
(331,285)
(196,112)
1,894,765
1,518,890
Change in net unrealized appreciation (depreciation)
4,949,755
(3,508,072)
6,904,630
(72,729)
89,499,588
(30,470,889)
Change in net unrealized appreciation (depreciation) on
translation of assets and liabilities in foreign currencies
(66,212)
3,281
Net increase (decrease) in net assets resulting from operations
7,034,983
(2,225,925)
6,590,018
(258,029)
6,063,872
1,964,887
97,171,212
(23,207,071)
DISTRIBUTIONS TO SHAREHOLDERS:
From net investment income
(2,176,752)
(2,009,411)
(84,507)
(7,543)
(6,063,872)
(1,964,887)
(5,595,506)
(5,723,855)
Total distributions
(2,176,752)
(2,009,411)
(84,507)
(7,543)
(6,063,872)
(1,964,887)
(5,595,506)
(5,723,855)
SHARE TRANSACTIONS:
Net proceeds from sales of shares
11,881,846
13,454,888
28,906,601
3,848,717
158,154,276
108,749,831
89,464,433
140,484,060
Reinvestment of distributions
2,176,752
2,009,411
84,507
7,543
6,026,931
1,948,365
5,595,506
5,723,855
Cost of shares redeemed
(11,544,255)
(20,691,479)
(11,061,760)
(34,233)
(109,359,501)
(58,737,580)
(78,487,052)
(141,558,836)
Net increase (decrease) in net assets resulting from
share transactions
2,514,343
(5,227,180)
17,929,348
3,822,027
54,821,706
51,960,616
16,572,887
4,649,079
Total increase (decrease) in net assets
7,372,574
(9,462,516)
24,434,859
3,556,455
54,821,706
51,960,616
108,148,593
(24,281,847)
NET ASSETS:
Beginning of period
68,965,299
84,696,187
81,088,654
186,587,262
96,997,973
497,339,992
562,189,394
End of period
$
76,337,873
$
75,233,671
$
105,523,513
$
3,556,455
$
241,408,968
$
148,958,589
$
605,488,585
$
537,907,547
OTHER INFORMATION:
SHARES:
Sold
10,123,573
5,063,885
26,120,835
3,901,939
158,047,324
66,566,029
54,898,838
41,267,560
Issued in reinvestment of distributions
1,843,913
1,690,624
74,590
8,300
6,022,855
1,947,048
3,286,858
3,850,810
Redeemed
(9,866,618)
(11,008,340)
(10,017,026)
(11,023)
(109,285,547)
(16,587,600)
(48,266,493)
(41,472,274)
Net increase (decrease)
2,100,868
(4,253,831)
16,178,399
3,899,216
54,784,632
51,925,477
9,919,203
3,646,096
</TABLE>
<TABLE>
MAXIM SERIES FUND, INC.
<S>
STATEMENTS OF CHANGES IN NET ASSETS
<S>
SIX MONTHS ENDED JUNE 30, 1995 AND 1994
(Unaudited)
<C>
<C>
<C>
ZERO-COUPON
TOTAL RETURN
U.S. GOVERNMENT
1995 TREASURY
PORTFOLIO
SECURITIES PORTFOLIO
PORTFOLIO
1995
1994
1995
1994
1995
1994
<CAPTION>
INCREASE (DECREASE) IN NET ASSETS:
OPERATIONS:
Net investment income
$
868,339
$
544,904
$
2,168,988
$
1,291,041
$
36,569
$
40,815
Net realized gain (loss)
363,350
362,246
810,853
(1,543,018)
218
4,982
Change in net unrealized appreciation (depreciation)
4,609,660
(2,195,795)
2,739,151
(2,119,188)
(854)
(50,081)
Change in net unrealized appreciation (depreciation) on
translation of assets and liabilities in foreign currencies
Net increase (decrease) in net assets resulting from operations
5,841,349
(1,288,645)
5,718,992
(2,371,165)
35,933
(4,284)
DISTRIBUTIONS TO SHAREHOLDERS:
From net investment income
(865,208)
(542,397)
(1,997,260)
(1,281,288)
Total distributions
(865,208)
(542,397)
(1,997,260)
(1,281,288)
0
0
SHARE TRANSACTIONS:
Net proceeds from sales of shares
12,301,702
12,614,191
9,684,089
24,819,023
44,023
Reinvestment of distributions
865,209
542,397
1,997,260
1,281,288
Cost of shares redeemed
(9,861,024)
(11,805,602)
(8,380,096)
(16,434,538)
(61,561)
(63,026)
Net increase (decrease) in net assets resulting from
share transactions
3,305,887
1,350,986
3,301,253
9,665,773
(17,538)
(63,026)
Total increase (decrease) in net assets
8,282,028
(480,056)
7,022,985
6,013,320
18,395
(67,310)
NET ASSETS:
Beginning of period
41,348,517
39,297,459
56,338,235
51,424,663
959,197
1,072,549
End of period
$
49,630,545
$
38,817,403
$
63,361,220
$
57,437,983
$
977,592
$
1,005,239
OTHER INFORMATION:
SHARES:
Sold
10,419,448
8,831,397
9,334,751
12,885,787
19,568
Issued in reinvestment of distributions
714,309
467,402
1,896,472
1,201,319
Redeemed
(8,309,168)
(8,079,273)
(8,049,916)
(5,325,812)
(27,385)
(29,003)
Net increase (decrease)
2,824,589
1,219,526
3,181,307
8,761,294
(7,817)
(29,003)
</TABLE>
<TABLE>
MAXIM SERIES FUND, INC.
<S>
BOND PORTFOLIO
<S>
FINANCIAL HIGHLIGHTS
(Unaudited)
Selected data for a share of capital stock of the portfolio for the six
months ended June 30, 1995 and the years ended December
31, 1994, 1993, 1992, and 1991 were as follows:
<C>
Six Months
Ended
June 30,
<C>
Year Ended December 31,
1995
1994
1993
1992
1991
<CAPTION>
Net Asset Value, Beginning of Period
$
1.1352
$
1.2274
$
1.2259
$
1.2929
$
1.2312
Income From Investment Operations
Net investment income
0.0357
0.0634
0.0632
0.0831
0.0939
Net realized and unrealized gain (loss)
0.0792
(0.0922)
0.0326
(0.0053)
0.0798
Total Income (Loss) From Investment
Operations
0.1149
(0.0288)
0.0958
0.0778
0.1737
Less Distributions
From net investment income
(0.0355)
(0.0634)
(0.0632)
(0.0760)
(0.0884)
From net realized gains
(0.0311)
(0.0688)
(0.0236)
Total Distributions
(0.0355)
(0.0634)
(0.0943)
(0.1448)
(0.1120)
Net Asset Value, End of Period
$
1.2146
$
1.1352
$
1.2274
$
1.2259
$
1.2929
Total Return
22.16% *
(2.36)%
8.56%
6.24%
14.70%
Net Assets, End of Period
$
76,337,873
$
68,965,299
$
84,696,187
$
69,974,484
$
88,545,656
Ratio of Expenses to Average Net Assets
0.60% *
0.60%
0.60%
0.60%
0.60%
Ratio of Net Investment Income to
Average Net Assets
6.08% *
5.33%
5.02%
5.93%
7.64%
Portfolio Turnover Rate
97.73%
60.85%
164.32%
157.97%
168.18%
* Annualized
</TABLE>
<TABLE>
MAXIM SERIES FUND, INC.
<S>
MONEY MARKET PORTFOLIO
<S>
FINANCIAL HIGHLIGHTS
(Unaudited)
Selected data for a share of capital stock of the portfolio for the six
months ended June 30, 1995 and the years ended
December 31, 1994, 1993, 1992, and 1991 were as follows:
<C>
<C>
Six Months
Ended
June 30,
Year Ended December 31,
1995
1994
1993
1992
1991
<CAPTION>
Net Asset Value,
Beginning of Period
$
1.0007
$
1.0007
$
1.0007
$
1.0006
$
1.0005
Income From Investment Operations
Net investment income
0.0020
0.0394
0.0278
0.0343
0.0565
Net realized and unrealized gains
0.0001
0.0001
Total Income From Investment
Operations
0.0020
0.0394
0.0278
0.0344
0.0566
Less Distributions
From net investment income
(0.0020)
(0.0394)
(0.0278)
(0.0343)
(0.0565)
Net Asset Value, End of Period
$
1.0007
$
1.0007
$
1.0007
$
1.0007
$
1.0006
Net Assets, End of Period
$
241,408,968
$
186,587,262
$
96,997,973
$
64,220,562
$
52,118,377
Ratio of Expenses to
Average Net Assets
0.46% *
0.46%
0.46%
0.46%
0.48%
Ratio of Net Investment Income to
Average Net Assets
5.66% *
3.96%
2.82%
3.43%
6.15%
* Annualized
</TABLE>
<TABLE>
MAXIM SERIES FUND, INC.
<S>
MID-CAP PORTFOLIO
<S>
FINANCIAL HIGHLIGHTS
(Unaudited)
Selected data for a share of capital stock of the portfolio for the six
months ended June 30, 1995 and the period
ended December 31, 1994 were as follows:
<C>
<C>
Six Months
Ended
Period Ended
June 30,
December 31,
1995
1994
<CAPTION>
Net Asset Value, Beginning of Period
$
1.1003
$
1.0000
Income From Investment Operations
Net investment income
0.0010
0.0076
Net realized and unrealized gain
0.0738
0.1003
Total Income From Investment Operations
0.0748
0.1079
Less Distributions
From net investment income
(0.0010)
(0.0076)
From net realized gains
Total Distributions
(0.0010)
(0.0076)
Net Asset Value, End of Period
$
1.1741
$
1.1003
Total Return
15.16% *
10.86%
Net Assets, End of Period
$
105,523,513
$
81,088,654
Ratio of Expenses to Average Net Assets
1.10% *#
1.07% #
Ratio of Net Investment Income to Average Net Assets
0.18% *
1.26%
Portfolio Turnover Rate
84.72%
166.12%
# Percentages are shown net of expenses reimbursed by The Great-West Life
Assurance Company.
* Annualized
</TABLE>
<TABLE>
MAXIM SERIES FUND, INC.
<S>
STOCK INDEX PORTFOLIO
<S>
FINANCIAL HIGHLIGHTS
(Unaudited)
Selected data for a share of capital stock of the portfolio for the six
months ended June 30, 1995 and the years ended
December 31, 1994, 1993, 1992, and 1991 were as follows:
<C>
Six Months
Ended
<C>
<C>
<C>
<C>
June 30,
Year Ended December 31,
<CAPTION>
1995
1994
1993
1992
1991
Net Asset Value,
Beginning of Period
$
1.4978
$
1.5575
$
1.4506
$
1.5206
$
1.3191
Income From Investment Operations
Net investment income
0.0171
0.0350
0.0320
0.0383
0.0563
Net realized and unrealized
gain (loss)
0.2723
(0.0335)
0.1097
0.0502
0.2492
Total Income From Investment
Operations
0.2894
0.0015
0.1417
0.0885
0.3055
Less Distributions
From net investment income
(0.0166)
(0.0350)
(0.0320)
(0.0382)
(0.0542)
From net realized gains
(0.0262)
(0.0028)
(0.1203)
(0.0498)
Total Distributions
(0.0166)
(0.0612)
(0.0348)
(0.1585)
(0.1040)
Net Asset Value, End of Period
$
1.7706
$
1.4978
$
1.5575
$
1.4506
$
1.5206
Total Return
43.10% *
0.14%
9.84%
5.87%
23.33%
Net Assets, End of Period
$
605,488,585
$
497,339,992
$
562,189,394
$
462,539,021
$
359,177,318
Ratio of Expenses to
Average Net Assets
0.60% *
0.60%
0.60%
0.60%
0.60%
Ratio of Net Investment Income
to Average Net Assets
2.10% *
2.23%
2.14%
2.49%
4.33%
Portfolio Turnover Rate
2.55%
11.98%
1.68%
118.83%
24.28%
* Annualized
</TABLE>
<TABLE>
MAXIM SERIES FUND, INC.
<S>
TOTAL RETURN PORTFOLIO
<S>
FINANCIAL HIGHLIGHTS
(Unaudited)
Selected data for a share of capital stock of the portfolio for the six
months ended June 30, 1995 and the years ended
December 31, 1994, 1993 1992, and 1991 were as follows:
<C>
Six Months
Ended
<C>
<C>
<C>
<C>
June 30,
Year Ended December 31,
1995
1994
1993
1992
1991
<CAPTION>
Net Asset Value, Beginning of Period
$
1.1238
$
1.2065
$
1.1327
$
1.1156
$
1.0017
Income From Investment Operations
Net investment income
0.0228
0.0382
0.0326
0.0424
0.0979
Net realized and unrealized
gain (loss)
0.1289
(0.0704)
0.1025
0.0165
0.1177
Total Income (Loss) From Investment
Operations
0.1517
(0.0322)
0.1351
0.0589
0.2156
Less Distributions
From net investment income
(0.0227)
(0.0382)
(0.0326)
(0.0375)
(0.0543)
From net realized gains
(0.0123)
(0.0287)
(0.0043)
(0.0474)
Total Distributions
(0.0227)
(0.0505)
(0.0613)
(0.0418)
(0.1017)
Net Asset Value, End of Period
$
1.2528
$
1.1238
$
1.2065
$
1.1327
$
1.1156
Total Return
29.52% *
(2.68)%
12.19%
5.45%
22.04%
Net Assets, End of Period
$
49,630,545
$
41,348,517
$
39,297,459
$
18,696,606
$
11,783,118
Ratio of Expenses to
Average Net Assets
0.60% *
0.60%
0.60%
0.60%
0.60%
Ratio of Net Investment Income to
Average Net Assets
3.82% *
3.30%
2.88%
3.56%
5.52%
Portfolio Turnover Rate
22.99%
74.85%
58.02%
29.26%
92.80%
* Annualized
</TABLE>
<TABLE>
MAXIM SERIES FUND, INC.
<S>
U.S. GOVERNMENT SECURITIES PORTFOLIO
<S>
FINANCIAL HIGHLIGHTS
(Unaudited)
Selected data for a share of capital stock of the portfolio for the six
months ended June 30, 1995 and the years ended
December 31, 1994, 1993, 1992, and 1991 were as follows:
<C>
<C>
<C>
<C>
<C>
Six Months
Ended
June 30,
Year Ended December 31,
1995
1994
1993
1992
1991
<CAPTION>
Net Asset Value, Beginning of Period
$
1.0138
$
1.1061
$
1.1141
$
1.1206
$
1.0779
Income From Investment Operations
Net investment income
0.0377
0.0572
0.0881
0.1037
0.0775
Net realized and unrealized
gain (loss)
0.0616
(0.0924)
(0.0006)
(0.0069)
0.0709
Total Income (Loss) From Investment
Operations
0.0993
(0.0352)
0.0875
0.0968
0.1484
Less Distributions
From net investment income
(0.0347)
(0.0571)
(0.0887)
(0.0581)
(0.0839)
From net realized gains
(0.0068)
(0.0452)
(0.0218)
Total Distributions
(0.0347)
(0.0571)
(0.0955)
(0.1033)
(0.1057)
Net Asset Value, End of Period
$
1.0784
$
1.0138
$
1.1061
$
1.1141
$
1.1206
Total Return
21.46% *
(3.20)%
9.35%
8.94%
14.34%
Net Assets, End of Period
$
63,361,220
$
56,338,235
$
51,424,663
$
30,350,801
$
32,730,440
Ratio of Expenses to Average Net Assets
0.60% *
0.60%
0.60%
0.60%
0.60%
Ratio of Net Investment Income to
Average Net Assets
7.20% *
5.47%
8.49%
4.96%
8.09%
Portfolio Turnover Rate
128.99%
308.47%
27.28%
42.15%
213.79%
* Annualized
</TABLE>
<TABLE>
MAXIM SERIES FUND, INC.
<S>
ZERO-COUPON 1995 TREASURY PORTFOLIO
<S>
FINANCIAL HIGHLIGHTS
(Unaudited)
Selected data for a share of capital stock of the portfolio for the six
months ended June 30, 1995 and the years ended December
31, 1994, 1993, 1992, and 1991 were as follows:
<C>
Six Months
Ended
<C>
<C>
<C>
<C>
June 30,
Year Ended December 31,
1995
1994
1993
1992
1991
<CAPTION>
Net Asset Value, Beginning of Period
$
2.1868
$
2.1794
$
2.0587
$
2.0339
$
1.7671
Income From Investment Operations
Net investment income
0.1175
0.3595
0.2234
0.5395
0.1680
Net realized and unrealized
gain (loss)
(0.0352)
(0.3340)
(0.0904)
(0.4022)
0.0988
Total Income From Investment
Operations
0.0823
0.0255
0.1330
0.1373
0.2668
Less Distributions
From net realized gains
(0.0181)
(0.0123)
(0.1125)
Total Distributions
(0.0181)
(0.0123)
(0.1125)
Net Asset Value, End of Period
$
2.2691
$
2.1868
$
2.1794
$
2.0587
$
2.0339
Total Return
7.68% *
1.17%
6.46%
6.75%
16.19%
Net Assets, End of Period
$
977,592
$
959,197
$
1,072,549
$
1,061,441
$
1,592,205
Ratio of Expenses to Average Net Assets
0.50% *
0.50%
0.50%
0.50%
0.50%
Ratio of Net Investment Income to
Average Net Assets
7.52% *
8.12%
7.58%
7.97%
9.11%
* Annualized
</TABLE>
<TABLE>
<S>
MAXIM SERIES FUND, INC.
<S>
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
SIX MONTHS ENDED JUNE 30, 1995 AND 1994
(Unaudited)
<fn1>
1. HISTORY OF THE FUND
Maxim Series Fund, Inc. (the Fund) is a Maryland corporation organized on
December 7, 1981 as a diversified
open-end management investment company. Interests in the Bond, Mid-Cap,
Money Market, Stock Index, Total
Return, U.S. Government Securities, and Zero-Coupon 1995 Treasury
Portfolios (the Portfolios) are represented by
separate classes of beneficial interest of the Fund. Shares of the Fund
are sold only to Maxim Series Account,
Pinnacle Series Account, FutureFunds Series Account, FutureFunds Series
Account II, Qualified Series Account,
and Retirement Plan Series Account of Great-West Life & Annuity Insurance
Company (the Company), to fund
benefits under variable annuity contracts and variable life insurance
policies issued by the Company and to the TNE
Series (k) Account of The New England Mutual Life Assurance Company
("TNE") to fund benefits under variable
annuity contracts issued by TNE. The shares are sold at a price equal
to the respective net asset value per share of
each class of shares.
Initial capitalization of $100,000 for the Fund was received on
February 25, 1982 from The Great-West Life
Assurance Company (Great-West) (parent of the Company). With respect to
the Mid-Cap Portfolio, additional
capitalization of $2,500,000 was received on January 3, 1994.
At June 30, 1995, Great-West's investment in the
Portfolios totaled $612,414.
</fn1>
<fn2>
2. SIGNIFICANT ACCOUNTING POLICIES
The following is a summary of the significant accounting policies of the
Fund, which are in accordance with the
accounting principles generally accepted in the investment company industry:
Security Transactions
Security transactions are recorded at the earlier of trade date or the
date a commitment is made to buy or sell the
related investment. The cost of investments sold is determined on the
basis of average cost. Dividends from
investment income of the Money Market Portfolio are declared daily and
reinvested monthly. Dividends from
investment income of the Bond and U.S. Government Securities Portfolios
are declared and reinvested monthly.
Dividends from investment income of the Stock Index Portfolio,
the Mid-Cap Portfolio, and the Total Return
Portfolio are declared and reinvested quarterly.
The U.S. Government Securities Portfolio may enter into repurchase
agreements which settle at a specified future
date. Amounts owing to brokers under these agreements are included in
Payables for Investments Purchased in the
accompanying financial statements. These liabilities were $8,464,509 and
$18,514,588 at December 31, 1994 and
December 31, 1993, respectively, and are collateralized by securities of
approximately the same value.
The Zero-Coupon 1995 Treasury Portfolio uses the consent dividends
procedure whereby the shareholders consent
to treat as a dividend an amount specified in such consent even though
such dividends have not actually been paid.
The dividends are paid when the stripped Treasury securities mature and
cash is available for distribution.
Distributions of net capital gains are declared prior to the end of the
fiscal year in which they are earned and are
reinvested in additional shares of the Fund at net asset value.
Security Valuation
Securities traded on national securities exchanges are valued at the
closing prices of the securities on these
exchanges at year-end, and securities traded on over-the-counter markets
are valued at the average between the
quoted bid and asked prices at year-end. Short-term and money market
securities are valued at amortized cost,
which approximates market value.
Dividend income for the Portfolios is accrued as of the ex-dividend date
and interest income is recorded daily.
Foreign Currency Translation
The accounting records of the Mid-Cap Portfolio are maintained in U.S.
dollars. Investment securities, other assets
and liabilities denominated in a foreign currency are translated into U.S.
dollars at the current exchange rate.
Purchases and sales of securities, income receipts and expense payments
are translated into U.S. dollars at the
exchange rate on the dates of the transactions.
The Mid-Cap Portfolio isolates that portion of the results of operations
resulting from changes in foreign exchange
rates from the fluctuations arising from changes in market prices of
securities held.
Reported net realized foreign exchange gains or losses arise from sales of
portfolio securities, sales and maturities of
short-term securities, and currency gains or losses realized between the
amounts of dividends, interest, and foreign
withholding taxes recorded by the Mid-Cap Portfolio, and the U.S. dollar
equivalent of the amounts actually
received or paid. Net unrealized foreign exchange gains and losses arise
from changes in the value of assets and
liabilities including investments in securities at fiscal year end,
resulting from changes in the exchange rate.
Federal Income Taxes
For federal income tax purposes, each Portfolio qualifies as a regulated
investment company under the provisions of
the Internal Revenue Code by distributing substantially all of its taxable
net income (both ordinary and capital gain)
to its shareholders and complying with the requirements for regulated
investment companies. Accordingly, no
provision for federal income taxes has been made.
</fn2>
<fn3>
3. INVESTMENT ADVISORY AGREEMENT
The Fund has entered into an investment advisory agreement with Great-West.
As compensation for its services to
the Fund, the investment advisor receives monthly compensation at the annual
rate of .46% of the average daily net
assets of the Money Market, .50% of the average daily net assets of the
Zero-Coupon 1995 Treasury, .60% of the
average daily net assets of the Bond, Stock Index, Total Return, and
U.S. Government Securities, and .95% of the
average daily net assets of the Mid-Cap Portfolios. With respect to the
Mid-Cap Portfolio, the Fund shall pay all
expenses incurred in its operation. However, Great-West shall pay any
expenses of the Fund which exceed an
annual rate of 1.10% of the average daily net assets of the Mid Cap Portfolio.
</fn3>
<fn4>
4. PURCHASES AND SALES OF SECURITIES
Costs of purchases of U.S. Government obligations and other securities,
excluding short-term securities, during the
six months ended June 30, 1995 were:
U.S. Government Obligations
Other Securities
Portfolio
Bond
$
6,149,531
$
67,551,530
Mid-Cap
0
97,408,752
Money Market
0
1,753,290
Stock Index
0
25,093,941
Total Return
5,498,805
10,544,153
U.S. Government Securities
79,110,108
0
Zero-Coupon 1995 Treasury
0
0
The proceeds from sales of U.S. Government obligations and other securities,
excluding short-term securities,
during the six months ended June 30, 1995 were:
U.S. Government Obligations
Other Securities
Portfolio
Bond
$
11,182,969
$
55,198,759
Mid-Cap
0
67,328,286
Money Market
0
0
Stock Index
0
13,839,623
Total Return
4,942,219
4,474,993
U.S. Government Securities
74,473,352
0
Zero-Coupon 1995 Treasury
9,716
0
</fn4>
<fn5>
5. UNREALIZED APPRECIATION (DEPRECIATION)
Gross unrealized appreciation (depreciation) of securities is as follows
as of June 30, 1995:
U.S.
ZERO-COUPON
MONEY
STOCK
TOTAL
GOVERNMENT
1995
BOND
MID-CAP
MARKET
INDEX
RETURN
SECURITIES
TREASURY
PORTFOLIO
PORTFOLIO
PORTFOLIO
PORTFOLIO
PORTFOLIO
PORTFOLIO
PORTFOLIO
Gross appreciation
$
1,663,509
$
10,860,918
$
$
135,824,312
$
5,424,720
$
1,840,758
$
17,514
Gross depreciation
414,306
1,849,464
16,666,702
288,526
108,268
Net unrealized appreciation
(depreciation)
$
1,249,203
$
9,011,454
$
0
$
119,157,610
$
5,136,194
$
1,732,490
$
17,514
</fn5>
</TABLE>
<TABLE>
MAXIM SERIES FUND, INC.
<S>
STATEMENT OF ASSETS AND LIABILITIES
<S>
JUNE 30, 1995
<C>
<C>
<C>
<C>
<C>
<C>
INVESTMENT
U.S.
GRADE
SMALL-CAP
GOVERNMENT
FOREIGN
GROWTH
CORPORATE
AGGRESSIVE
MORTGAGE
VALUE
EQUITY
INDEX
BOND
GROWTH
SECURITIES
INDEX
<CAPTION>
PORTFOLIO
PORTFOLIO
PORTFOLIO
PORTFOLIO
PORTFOLIO
PORTFOLIO
ASSETS:
Investments at value:
Short-term investments
$
6,766,299
$
1,135,000
$
2,012,000
$
2,819,628
$
30,770,919
$
1,655,000
Bonds
84,261,481
109,339,598
Common stocks
54,137,620
27,627,094
17,300,748
42,717,064
Preferred stocks
701,343
Total investments (cost $63,116,035; $24,953,599;
$84,571,125; $18,934,279; $137,371,568; $40,104,749)
61,605,262
28,762,094
86,273,481
20,120,376
140,110,517
44,372,064
Cash
148,064
17,722
Dividends and interest receivable
275,420
50,314
1,683,562
15,087
728,329
128,291
Receivables for securities sold
436,477
1,273
Total Assets
62,317,159
28,960,472
87,957,043
20,153,185
140,838,846
44,501,628
LIABILITIES:
Payables for securities purchased
27,809
35,674
15,275
24,962,471
Other liabilities
94,669
201,282
142,341
165,714
Total Liabilities
94,669
27,809
236,956
15,275
25,104,812
165,714
NET ASSETS
$
62,222,490
$
28,932,663
$
87,720,087
$
20,137,910
$
115,734,034
$
44,335,914
NET ASSETS REPRESENTED BY:
Capital stock, $.10 par value
$
6,570,894
$
2,409,992
$
6,798,432
$
1,861,169
$
10,002,884
$
3,940,796
Additional paid-in capital
57,508,342
22,704,508
80,470,652
16,783,464
106,459,071
36,074,147
Net unrealized appreciation (depreciation) on investments
(1,510,773)
3,808,495
1,702,356
1,186,097
2,738,949
4,267,315
Undistributed net investment income (loss)
(85,888)
5,447
14,873
(21,757)
318,990
26,764
Accumulated undistributed net realized gain (loss) on investments
(2,715,795)
4,221
(1,266,226)
328,937
(3,785,860)
26,892
Net unrealized appreciation on translation of
assets and liabilities denominated in foreign currencies
2,455,710
NET ASSETS
$
62,222,490
$
28,932,663
$
87,720,087
$
20,137,910
$
115,734,034
$
44,335,914
NET ASSET VALUE PER OUTSTANDING SHARE
$
0.9469
$
1.2005
$
1.2903
$
1.0820
$
1.1570
$
1.1250
SHARES OF CAPITAL STOCK:
Authorized
100,000,000
100,000,000
100,000,000
100,000,000
200,000,000
100,000,000
Outstanding
65,708,938
24,099,917
67,984,318
18,611,685
100,028,842
39,407,964
See notes to financial statements.
(Continued)
</TABLE>
<TABLE>
<S>
MAXIM SERIES FUND, INC.
<S>
STATEMENT OF OPERATIONS
SIX MONTHS ENDED JUNE 30, 1995
<C>
<C>
<C>
<C>
<C>
<C>
INVESTMENT
U.S.
GRADE
SMALL-CAP
GOVERNMENT
FOREIGN
GROWTH
CORPORATE
AGGRESSIVE
MORTGAGE
VALUE
EQUITY
INDEX
BOND
GROWTH
SECURITIES
INDEX
<CAPTION>
PORTFOLIO
PORTFOLIO
PORTFOLIO
PORTFOLIO
PORTFOLIO
PORTFOLIO
INVESTMENT INCOME:
Interest
$
262,454
$
26,984
$
2,700,960
$
75,837
$
4,115,266
$
32,301
Dividends
795,354
169,935
80,524
637,811
Total income
1,057,808
196,919
2,700,960
156,361
4,115,266
670,112
EXPENSES:
Salaries
41,029
4,795
Legal
8,742
2,453
Directors' fees
394
122
Accounting
4,000
2,500
Bank and custodial fees
67,388
25,570
Other expenses
15,381
3,022
Foreign withholding tax
76,441
231
Management fee
264,655
61,551
236,749
80,795
312,740
102,777
Total expenses
478,030
61,551
236,749
119,488
312,740
102,777
Less amount paid by The Great-West Life
Assurance Company
4,605
14,222
Net expenses
473,425
61,551
236,749
105,266
312,740
102,777
NET INVESTMENT INCOME
584,383
135,368
2,464,211
51,095
3,802,526
567,335
REALIZED AND UNREALIZED GAIN (LOSS)
ON INVESTMENTS
Net realized gain (loss) on investments
(2,065,757)
36,476
(194,833)
363,823
1,578,057
30,519
Change in net unrealized appreciation (depreciation)
on investments
(1,285,520)
3,531,401
5,785,193
1,386,659
4,086,338
5,205,085
Change in net unrealized appreciation on translation of
assets and liabilities denominated in foreign currencies
3,275,107
Net change in realized and unrealized appreciation
(depreciation) on investments
(76,170)
3,567,877
5,590,360
1,750,482
5,664,395
5,235,604
NET INCREASE IN NET ASSETS
RESULTING FROM OPERATIONS
$
508,213
$
3,703,245
$
8,054,571
$
1,801,577
$
9,466,921
$
5,802,939
See notes to financial statements
</TABLE>
<TABLE>
MAXIM SERIES FUND, INC.
<S>
STATEMENTS OF CHANGES IN NET ASSETS
<S>
SIX MONTHS ENDED JUNE 30, 1995 AND 1994
<C>
<C>
<C>
<C>
FOREIGN
INVESTMENT GRADE
EQUITY
GROWTH INDEX
CORPORATE BOND
<CAPTION>
PORTFOLIO
PORTFOLIO
PORTFOLIO
1995
1995
1994
1995
1994
INCREASE IN NET ASSETS:
OPERATIONS:
Net investment income
$
584,383
$
135,369
$
46,490
$
2,464,211
$
1,638,147
Net realized gain (loss)
(2,065,757)
36,476
219
(194,833)
(43,353)
Change in net unrealized appreciation (depreciation)
(1,285,520)
3,531,401
(377,633)
5,785,193
(3,709,151)
Change in net unrealized appreciation on translation
of assets and liabilities denominated in foreign currencies
3,275,107
Net increase (decrease) in net assets resulting from operations
508,213
3,703,246
(330,924)
8,054,571
(2,114,357)
DISTRIBUTIONS TO SHAREHOLDERS:
From net investment income
(586,640)
(129,922)
(46,325)
(2,449,338)
(1,628,544)
Total distributions
(586,640)
(129,922)
(46,325)
(2,449,338)
(1,628,544)
SHARE TRANSACTIONS:
Net proceeds from sales of shares
36,735,552
14,484,920
5,862,829
27,856,256
24,970,902
Reinvestment of distributions
586,640
129,922
46,325
2,449,338
1,628,544
Cost of shares redeemed
(17,781,888)
(3,426,810)
(741,709)
(19,467,034)
(20,795,559)
Net increase in net assets resulting from
share transactions
19,540,304
11,188,032
5,167,445
10,838,560
5,803,887
Total increase in net assets
19,461,877
14,761,356
4,790,196
16,443,793
2,060,986
NET ASSETS:
Beginning of period
42,760,613
14,171,307
3,099,916
71,276,294
63,585,296
End of period
$
62,222,490
$
28,932,663
$
7,890,112
$
87,720,087
$
65,646,282
OTHER INFORMATION:
SHARES:
Sold
39,009,955
13,052,801
5,329,192
22,303,725
13,162,323
Issued in reinvestment of distributions
627,798
112,367
48,425
1,952,244
1,289,227
Redeemed
(18,869,505)
(3,068,370)
(134,190)
(15,576,057)
(9,810,866)
Net increase
20,768,248
10,096,798
5,243,427
8,679,912
4,640,684
See notes to financial statements.
(Continued)
</TABLE>
<TABLE>
MAXIM SERIES FUND, INC.
STATEMENTS OF CHANGES IN NET ASSETS
SIX MONTHS ENDED JUNE 30, 1995 AND 1994
<C>
<C>
<C>
<C>
SMALL-CAP
AGGRESSIVE
U.S. GOVERNMENT
GROWTH
MORTGAGE SECURITIES
VALUE INDEX
PORTFOLIO
PORTFOLIO
PORTFOLIO
1995
1995
1994
1995
1994
<CAPTION>
INCREASE IN NET ASSETS:
OPERATIONS:
Net investment income
$
51,095
$
3,802,527
$
1,658,030
$
567,335
$
140,610
Net realized gain (loss)
363,823
1,578,057
(2,812,053)
30,519
4,122
Change in net unrealized appreciation (depreciation)
1,386,659
4,086,338
(1,603,000)
5,205,085
(588,009)
Change in net unrealized appreciation on translation
of assets and liabilities denominated in foreign currencies
Net increase (decrease) in net assets resulting from operations
1,801,577
9,466,922
(2,757,023)
5,802,939
(443,277)
DISTRIBUTIONS TO SHAREHOLDERS:
From net investment income
(51,187)
(3,483,537)
(1,645,244)
(540,571)
(140,172)
Total distributions
(51,187)
(3,483,537)
(1,645,244)
(540,571)
(140,172)
SHARE TRANSACTIONS:
Net proceeds from sales of shares
9,140,291
33,925,738
30,913,533
20,430,326
12,798,736
Reinvestment of distributions
51,187
3,483,538
1,645,244
540,571
140,172
Cost of shares redeemed
(3,767,367)
(21,044,993)
(20,023,239)
(7,507,825)
(1,250,469)
Net increase in net assets resulting from
share transactions
5,424,111
16,364,283
12,535,538
13,463,072
11,688,439
Total increase in net assets
7,174,501
22,347,668
8,133,271
18,725,440
11,104,990
NET ASSETS:
Beginning of period
12,963,409
93,386,366
77,052,883
25,610,474
4,337,142
End of period
$
20,137,910
$
115,734,034
$
85,186,154
$
44,335,914
$
15,442,132
OTHER INFORMATION:
SHARES:
Sold
8,960,816
29,995,597
20,937,770
19,342,626
11,785,242
Issued in reinvestment of distributions
49,251
3,076,297
1,684,722
496,407
143,817
Redeemed
(3,687,938)
(18,588,162)
(11,694,624)
(7,069,893)
(297,380)
Net increase
5,322,129
14,483,732
10,927,868
12,769,140
11,631,679
See notes to financial statements.
(Concluded)
</TABLE>
<TABLE>
MAXIM SERIES FUND, INC.
<S>
FOREIGN EQUITY PORTFOLIO
<S>
FINANCIAL HIGHLIGHTS
<captaion>
Selected data for a share of capital stock of the portfolio for the six
months ended June 30, 1995 and the period ended
December 31, 1994 were as follows:
<C>
<C>
Six Months
Ended
Period Ended
June 30,
December 31,
1995
1994
(A)
Net Asset Value, Beginning of Period
$
0.9515
$
1.0000
Income From Investment Operations
Net investment income (loss)
0.0102
(0.0019)
Net realized and unrealized (loss)
(0.0052)
(0.0466)
Total Income (Loss) From Investment Operations
0.0050
(0.0485)
Less Distributions
From net investment income
(0.0096)
Total Distributions
(0.0096)
Net Asset Value, End of Period
$
0.9469
$
0.9515
Total Return
2.59% *
(4.85)% *
Net Assets, End of Period
$
62,222,490
$
42,760,613
Ratio of Expenses to Average Net Assets
1.50% * #
1.50% * #
Ratio of Net Investment Income to Average Net Assets
1.08% *
(1.26)% *
Portfolio Turnover Rate
65.66%
19.85%
* Annualized
(A) The portfolio commenced operations on November 1, 1994.
# Percentage is shown net of expenses reimbursed by The Great-West Life
Assurance Company.
(Continued)
</TABLE>
<TABLE>
MAXIM SERIES FUND, INC.
<S>
INVESTMENT GRADE CORPORATE BOND PORTFOLIO
<S>
FINANCIAL HIGHLIGHTS
<C>
Selected data for a share of capital stock of the portfolio for the six
months ended June 30, 1995 and the periods ended
December 31, 1994, 1993 and 1992 were as follows:
<C>
Six Months
Ended
<C>
<C>
June 30,
Period Ended December 31,
1995
1994
1993
1992
(A)
Net Asset Value, Beginning of Period
$
1.2019
1.3090
$
1.2957
$
1.0000
Income From Investment Operations
Net investment income
0.0385
0.0665
0.0691
0.0058
Net realized and unrealized gain (loss)
0.0882
(0.1071)
0.0452
0.2957
Total Income (Loss) From Investment Operations
0.1267
(0.0406)
0.1143
0.3015
Less Distributions
From net investment income
(0.0383)
(0.0665)
(0.0686)
(0.0058)
From net realized gains
(0.0324)
Total Distributions
(0.0383)
(0.0665)
(0.1010)
(0.0058)
Net Asset Value, End of Period
$
1.2903
$
1.2019
$
1.3090
$
1.2957
Total Return
23.09% *
(3.15)%
8.95%
29.57% *
Net Assets, End of Period
$
87,720,087
$
71,276,294
$
63,585,296
$
49,607,522
Ratio of Expenses to Average Net Assets
0.60% *
0.60%
0.60%
0.59%*
Ratio of Net Investment Income to Average Net Assets
6.24% *
5.37%
5.13%
4.71%*
Portfolio Turnover Rate
75.44%
51.66%
151.14%
23.91%
(A) The portfolio commenced operations on November 1, 1992.
* Annualized
MAXIM SERIES FUND, INC.
GROWTH INDEX PORTFOLIO
FINANCIAL HIGHLIGHTS
Selected data for a share of capital stock of the portfolio for the six
months ended June 30, 1995 and the periods
ended December 31, 1994 and 1993 were as follows:
<C>
<C>
<C>
Six Months
Ended
June 30,
Period Ended December 31,
1995
1994
1993
(A)
Net Asset Value, Beginning of Period
$
1.0120
$
1.0064
$
1.0000
Income From Investment Operations
Net investment income
0.0064
0.0133
0.0015
Net realized and unrealized gain
0.1883
0.0056
0.0064
Total Income From Investment Operations
0.1947
0.0189
0.0079
Less Distributions
From net investment income
(0.0062)
(0.0133)
(0.0015)
Total Distributions
(0.0062)
(0.0133)
(0.0015)
Net Asset Value, End of Period
$
1.2005
$
1.0120
$
1.0064
Total Return
42.84% *
1.93%
.79% *
Net Assets, End of Period
$
28,932,663
$
14,171,307
$
3,099,916
Ratio of Expenses to Average Net Assets
0.60% *
0.60%
0.59%*
Ratio of Net Investment Income to Average Net Assets
1.30% *
1.57%
1.98%*
Portfolio Turnover Rate
1.60%
18.50%
0.06%
* Annualized
(A) The portfolio commenced operations on December 1, 1993.
(Continued)
MAXIM SERIES FUND, INC.
SMALL-CAP AGGRESSIVE GROWTH PORTFOLIO
FINANCIAL HIGHLIGHTS
Selected data for a share of capital stock of the portfolio for the six
months ended June 30, 1995 and the period
ended December 31, 1994 were as follows:
<C>
<C>
Six Months
Ended
Period Ended
June 30,
December 31,
1995
1994
(A)
Net Asset Value, Beginning of Period
$
0.9755
$
1.0000
Income From Investment Operations
Net investment income (loss)
0.0036
(0.0016)
Net realized and unrealized gain (loss)
0.1060
(0.0229)
Total Income (Loss) From Investment Operations
0.1096
(0.0245)
Less Distributions
From net investment income
(0.0031)
Total Distributions
(0.0031)
Net Asset Value, End of Period
$
1.0820
$
0.9755
Total Return
25.08% *
(2.46)% *
Net Assets, End of Period
$
20,137,910
$
12,963,409
Ratio of Expenses to Average Net Assets
1.50% * #
1.26% * #
Ratio of Net Investment Income to Average Net Assets
0.64% *
(1.08)% *
Portfolio Turnover Rate
50.19%
8.84%
* Annualized
(A) The portfolio commenced operations on November 1, 1994.
# Percentage is shown net of expenses reimbursed by The Great-West Life
Assurance Company.
(Continued)
MAXIM SERIES FUND, INC.
U.S. GOVERNMENT MORTGAGE SECURITIES PORTFOLIO
FINANCIAL HIGHLIGHTS
Selected data for a share of capital stock of the portfolio for the six
months ended June 30, 1995 and the periods ended
December 31, 1994, 1993 and 1992 were as follows:
<C>
<C>
<C>
<C>
Six Months
Ended
June 30,
Year Ended December 31,
1995
1994
1993
1992
(A)
Net Asset Value, Beginning of Period
$
1.0917
$
1.1813
$
1.1503
$
1.0000
Income From Investment Operations
Net investment income
0.0406
0.0620
0.0788
0.0029
Net realized and unrealized gain (loss)
0.0621
(0.0896)
0.0315
0.1598
Total Income (Loss) From Investment Operations
0.1027
(0.0276)
0.1103
0.1627
Less Distributions
From net investment income
(0.0374)
(0.0620)
(0.0788)
(0.0029)
From net realized gains
(0.0005)
(0.0095)
Total Distributions
(0.0374)
(0.0620)
(0.0793)
(0.0124)
Net Asset Value, End of Period
$
1.1570
$
1.0917
$
1.1813
$
1.1503
Total Return
20.58% *
(2.34)%
9.65%
15.03% *
Net Assets, End of Period
$
115,734,034
$
93,386,366
$
77,052,883
$
28,107,848
Ratio of Expenses to Average Net Assets
0.60% *
0.60%
0.60%
0.59%*
Ratio of Net Investment Income to Average Net Assets
7.28% *
5.67%
8.12%
3.16%*
Portfolio Turnover Rate
141.27%
331.42%
17.78%
33.52%
(A) The portfolio commenced operations on November 1, 1992.
* Annualized
(Continued)
MAXIM SERIES FUND, INC.
VALUE INDEX PORTFOLIO
FINANCIAL HIGHLIGHTS
Selected data for a share of capital stock of the portfolio for the six
months ended June 30, 1995 and the periods
ended December 31, 1994 and 1993 were as follows:
<C>
<C>
<C>
Six Months
Ended
June 30,
Period Ended December 31,
1995
1994
1993
(A)
Net Asset Value, Beginning of Period
$
0.9614
$
1.0118
$
1.0000
Income From Investment Operations
Net investment income
0.0158
0.0253
0.0014
Net realized and unrealized gain (loss)
0.1629
(0.0504)
0.0119
Total Income (Loss) From Investment Operations
0.1787
(0.0251)
0.0133
Less Distributions
From net investment income
(0.0151)
(0.0253)
(0.0014)
From net realized gains
(0.0001)
Total Distributions
(0.0151)
(0.0253)
(0.0015)
Net Asset Value, End of Period
$
1.1250
$
0.9614
$
1.0118
Total Return
41.41% *
(2.49)%
1.32% *
Net Assets, End of Period
$
44,335,914
$
25,610,474
$
4,337,142
Ratio of Expenses to Average Net Assets
0.60% *
0.60%
0.59%*
Ratio of Net Investment Income to Average Net Assets
3.30% *
3.18%
2.11%*
Portfolio Turnover Rate
1.18%
16.88%
8.99%
* Annualized
(A) The portfolio commenced operations on December 1, 1993.
(Concluded)
</TABLE>
<TABLE>
MAXIM SERIES FUND, INC.
<S>
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
SIX MONTHS ENDED JUNE 30, 1995 AND 1994
<fn1>
1. HISTORY OF THE FUND
Maxim Series Fund, Inc. (the Fund) is a Maryland corporation organized on
December 7, 1981 as a diversified
open-end management investment company. Interests in the Foreign Equity,
Growth Index, Investment Grade
Corporate Bond, Small-Cap Aggressive Growth, U.S. Government Mortgage
Securities, and Value Index Portfolios
(the Portfolios) are represented by separate classes of beneficial
interest of the Fund. Shares of the Fund are sold
only to FutureFunds Series Account II, Qualified Series Account, and
Retirement Plan Series Account of Great-
West Life & Annuity Insurance Company (the Company), to fund benefits
under variable annuity contracts issued
by the Company and to the TNE Series (k) Account of The New England
Mutual Life Assurance Company (TNE)
to fund benefits under variable annuity contracts issued by TNE. The
shares are sold at a price equal to the
respective net asset value per share of each class of shares.
Initial capitalization of $100,000 for the Fund was received on
February 25, 1982 from The Great-West Life
Assurance Company (Great-West) (parent of the Company).
At June 30, 1995, Great-West's investment in the
Portfolios totaled $4,907,796.
</fn1>
<fn2>
2. SIGNIFICANT ACCOUNTING POLICIES
The following is a summary of the significant accounting policies of
the Fund, which are in accordance with the
accounting principles generally accepted in the investment company industry:
Security Transactions
Security transactions are recorded at the earlier of trade date or the
date a commitment is made to buy or sell the
related investment. The cost of investments sold is determined on the
basis of average cost. Dividends from
investment income of the Investment Grade Corporate Bond and the U.S.
Government Mortgage Securities
Portfolios are declared and reinvested monthly. Dividends from investment
income of the Foreign Equity, Growth
Index, Small-Cap Aggressive Growth, and the Value Index Portfolios are
declared and reinvested quarterly.
The U.S. Government Mortgage Securities Portfolio may enter into
repurchase agreements which settle at a
specified future date. Amounts owing to brokers under these agreements
are included in Payables for Investments
Purchased in the accompanying financial statements. These liabilities
were $29,954,123 and $50,761,369 at June
30, 1995 and June 30, 1994, respectively, and are collateralized by
securities of approximately the same value.
Security Valuation
Securities traded on national securities exchanges are valued at the
closing prices of the securities on these
exchanges at year-end, and securities traded on over-the-counter markets
are valued at the average between the
quoted bid and asked prices at year-end. Short-term securities are valued
at amortized cost which approximates
market value.
Dividend income for the Portfolios is accrued as of the ex-dividend date
and interest income is recorded daily.
Foreign Currency Translation
The accounting records of the Foreign Equity Portfolio are maintained in
U.S. dollars. Investment securities, other
assets and liabilities denominated in a foreign currency are translated
into U.S. dollars at the current exchange rate.
Purchases and sales of securities, income receipts and expense payments
are translated into U.S. dollars at the
exchange rate on the dates of the transactions.
The Foreign Equity Portfolio isolates that portion of the results of
operations resulting from changes in foreign
exchange rates from the fluctuations arising from changes in market prices
of securities held.
Reported net realized foreign exchange gains or losses arise from sales
of portfolio securities, sales and maturities of
short-term securities, and currency gains or losses realized between
the amounts of dividends, interest, and foreign
withholding taxes recorded by the Foreign Equity Portfolio, and the
U.S. dollar equivalent of the amounts actually
received or paid. Net unrealized foreign exchange gains and losses
arise from changes in the value of assets and
liabilities including investments in securities at fiscal year end,
resulting from changes in the exchange rate.
Federal Income Taxes
For federal income tax purposes, each Portfolio of the Fund qualifies
as a regulated investment company under the
provisions of the Internal Revenue Code by distributing substantially
all of its taxable net income (both ordinary
income and capital gains) to its shareholders and complying with the
requirements for regulated investment
companies. Accordingly, no provision for federal income taxes has been made.
</fn2>
<fn3>
3. INVESTMENT ADVISORY AGREEMENT
The Fund has entered into an investment advisory agreement with Great-West.
As compensation for its services to
the Fund, the investment advisor receives monthly compensation at the annual
rate of .60% of the average daily net
assets of the Growth Index Portfolio, Investment Grade Corporate Bond
Portfolio, U.S. Government Mortgage
Securities Portfolio, and Value Index Portfolio and 1.00% of the average
daily net assets of the Foreign Equity
Portfolio and Small-Cap Aggressive Growth Portfolio. With respect to the
Foreign Equity Portfolio, and Small-Cap
Aggressive Growth Portfolio, the Fund shall pay all expenses incurred in
its operation of these portfolios. However,
Great-West shall pay any expenses of the Fund which exceed an annual rate
of 1.50% and 1.30% of the average
daily net assets of the Foreign Equity and Small-Cap Aggressive Growth
Portfolios, respectively.
</fn3>
<fn4>
4. PURCHASES AND SALES OF SECURITIES
Costs of purchases of U.S. Government obligations and other securities,
excluding short-term investments, during
the six months ended June 30, 1995 were:
U.S. Government Obligations
Other Securities
Portfolio
Foreign Equity
$
0
$
48,769,955
Growth Index
0
10,769,650
Investment Grade Corporate Bond
2,090,313
69,510,452
Small-Cap Aggressive Growth
0
11,521,405
U.S. Government Mortgage Securities
153,125,536
0
Value Index
0
13,093,134
The proceeds from sales of U.S. Government obligations and other
securities, excluding short-term investments,
during the six months ended June 30, 1995 were:
U.S. Government Obligations
Other Securities
Portfolio
Foreign Equity
$
0
$
29,222,542
Growth Index
0
322,040
Investment Grade Corporate Bond
7,907,031
47,919,846
Small-Cap Aggressive Growth
0
6,973,797
U.S. Government Mortgage Securities
140,160,185
0
Value Index
0
398,185
</fn4>
<fn5>
5. UNREALIZED APPRECIATION (DEPRECIATION)
Gross unrealized appreciation (depreciation) of securities is as
follows as of June 30, 1995:
INVESTMENT
U.S.
GRADE
SMALL-CAP
GOVERNMENT
FOREIGN
GROWTH
CORPORATE
AGGRESSIVE
MORTGAGE
VALUE
EQUITY
INDEX
BOND
GROWTH
SECURITIES
INDEX
PORTFOLIO
PORTFOLIO
PORTFOLIO
PORTFOLIO
PORTFOLIO
PORTFOLIO
Gross appreciation
$
2,306,587
$
4,093,688
$
2,193,599
$
1,923,925
$
3,097,541
$
4,635,648
Gross depreciation
3,817,360
285,193
491,243
737,828
358,592
368,333
Net unrealized appreciation
(depreciation)
$
(1,510,773)
$
3,808,495
$
1,702,356
$
1,186,097
$
2,738,949
$
4,267,315
</fn5>
<C> <C> <C> <C> <C> <C>
<C> <C> <C> <C>
<C>
<C> <C> <C> <C> <C> <C>
<C> <C> <c
TOTAL
T
O
T
A
L
N
O
N
- -
I
N
C
O
M
E
T
O
T
A
L
T
O
T
A
L
T
O
T
A
L
TOTAL TOTAL PAR VALUE /
MARKET ASSET TYPEASSET
T
Y
P
E
P
R
O
D
U
C
I
N
G
P
O
R
T
F
O
L
I
O
P
O
R
T
F
O
L
I
O
Bond Portfolio invest_porASSET TYPE
invest_glnASSET TYPE INDUSTRY invest_minINDUSTRY
%COUNTRY COUNTRY % # OF SHARESISSUER
VALUE MARKET VAL COST INDICATOR MARKET VAL COST COUNTRY
MATURITY DATE ISSUE DESCRIPTION COUPON invest_sor
210 BONDS 20
98.7%CANADIAN - FEDERAL 20
4.0% 3,000,000 Canada
*********
May 30, 2000 Global Bonds 6.500% 1
Bond Portfolio 210 BONDS 20 COMMUNICATIONS 190 2.7%
2,000,000 Cox Communications Inc
*********
June 15, 2000 Notes 6.375% 1
Bond Portfolio 210 BONDS 20 CREDIT INSTITUTIONS 125 14.5%
3,000,000 Associates Corp of North America
*********
October 15, 20Senior Notes 5.750% 1
Bond Portfolio 210 BONDS 20 CREDIT INSTITUTIONS 125
2,000,000 Countrywide Funding Corp
*********
April 15, 2003Medium Term Notes 6.960% 1
Bond Portfolio 210 BONDS 20 CREDIT INSTITUTIONS 125
3,000,000 Ford Motor Credit Co
*********
September 8, 1Medium Term Notes 5.370% 1
Bond Portfolio 210 BONDS 20 CREDIT INSTITUTIONS 125
3,000,000 Household Finance Corp
*********
March 10, 1998Medium Term Notes 7.500% 1
Bond Portfolio 210 BONDS 20 ELECTRIC 75 9.7%
3,000,000 Metropolitan Edison Co
*********
March 1, 2002 Secured Medium Term No 8.050% 1
Bond Portfolio 210 BONDS 20 ELECTRIC 75
2,000,000 Commonwealth Edison Co
*********
January 1, 200First Mortgage Bonds 7.500% 1
Bond Portfolio 210 BONDS 20 ELECTRIC 75
2,000,000 Public Service Electric & Gas Co
*********
May 1, 2000 First Mortgage Bonds 6.000% 1
Bond Portfolio 210 BONDS 20 ELECTRONICS - HIGH TECH 205 4.2%
3,000,000 General Electric Co
*********
September 15, Notes 7.875% 1
Bond Portfolio 210 BONDS 20 ENVIRONMENTAL SERVICES 201 4.7%
3,300,000 WMX Technologies Inc
*********
November 15, 1Notes 8.250% 1
Bond Portfolio 210 BONDS 20 FOREIGN BANKS 130 4.2%
3,000,000 BCH Cayman Island
*********
June 15, 2004 Yankee Subordinated No 8.250% 1
Bond Portfolio 210 BONDS 20 INDUSTRIAL SERVICES 199 2.6%
2,000,000 Comdisco Inc
*********
June 15, 2000 Notes 6.500% 1
Bond Portfolio 210 BONDS 20 MFTG - CONSUMER PRODS. 215 8.4%
3,000,000 Reed Publishing Inc
*********
July 9, 1997 Eurodollar Notes 9.625% 1
Bond Portfolio 210 BONDS 20 MFTG - CONSUMER PRODS. 215
3,000,000 Coca-Cola Enterprises Inc
*********
November 15, 1Notes 7.000% 1
Bond Portfolio 210 BONDS 20 MFTG - INDUSTRIAL PRODS 195 11.4%
2,000,000 Alcan Aluminium Ltd
*********
April 1, 2000 Notes 5.875% 1
Bond Portfolio 210 BONDS 20 MFTG - INDUSTRIAL PRODS 195
3,000,000 Grace (W R) & Co
*********
August 15, 200Notes 8.000% 1
Bond Portfolio 210 BONDS 20 MFTG - INDUSTRIAL PRODS 195
3,500,000 Hoechst Corp USA
*********
August 3, 2000Eurodollar Notes 6.000% 1
Bond Portfolio 210 BONDS 20 OIL & GAS 100 4.3%
3,000,000 Coastal Corp
*********
May 15, 1999 Senior Notes 8.750% 1
Bond Portfolio 210 BONDS 20 RETAIL TRADE 207 6.8%
2,000,000 McDonald's Corp
*********
November 15, 2Medium Term Notes 8.750% 1
Bond Portfolio 210 BONDS 20 RETAIL TRADE 207
3,000,000 Duty Free International Inc
*********
January 15, 20Notes 7.000% 1
Bond Portfolio 210 BONDS 20
TELEPHONE 85
4.4%
3,000,000 Nippon Telegraph & Telephone
*********
July 27, 1998 Yankee Notes 9.500% 1
Bond Portfolio 210 BONDS 20
TRANSPORTATION EQUIPMEN 170
8.4%
3,000,000 General Motors Corp
*********
July 15, 2001 Notes 9.125% 1
Bond Portfolio 210 BONDS 20
TRANSPORTATION EQUIPMEN 170
3,000,000 Rockwell International Corp *********
June 1, 2005 Notes 6.625% 1
Bond Portfolio 210 BONDS 20
WHOLESALE TRADE -CONSUM 209
8.4%
3,000,000 Procter & Gamble Co *********
February 11, 1Eurodollar Notes 9.500% 1
Bond Portfolio 210 BONDS 20
WHOLESALE TRADE -CONSUM 209
3,000,000 Supervalu Inc
*****************************
July 15, 1999 Notes 7.250% 1
Bond Portfolio 210 SHORT-TERM INVESTMENT 10
1.3%FOREIGN BANKS 130 1.3%
940,000 Canadian Imperial Bank of Commerce 940,000 940,000
940,000 ********************
1
Mid-Cap Portfolio 410 COMMON STOCK 50
84.6%COMMUNICATIONS 190 9.9%
6,675 Millicom International Cellular SA 200,250
*
2
Mid-Cap Portfolio 410 COMMON STOCK 50
COMMUNICATIONS 190
73,650 Arch Communications Group Inc *********
*
2
Mid-Cap Portfolio 410 COMMON STOCK 50
COMMUNICATIONS 190
71,900 Nextel Communications Inc *********
*
2
Mid-Cap Portfolio 410 COMMON STOCK 50
COMMUNICATIONS 190
26,800 Commnet Cellular Corp 750,400
*
2
Mid-Cap Portfolio 410 COMMON STOCK 50
COMMUNICATIONS 190
10,949 Korea Mobile Telecommunications Corp 390,113
*
2
Mid-Cap Portfolio 410 COMMON STOCK 50
COMMUNICATIONS 190
179,725 Paging Network Inc *********
*
2
Mid-Cap Portfolio 410 COMMON STOCK 50
CONSUMER SERVICES 211
3.6%
86,150 Horizon Healthcare *********
*
2
Mid-Cap Portfolio 410 COMMON STOCK 50
CONSUMER SERVICES 211
8,550 Homedco Group Inc 438,188
*
2
Mid-Cap Portfolio 410 COMMON STOCK 50
CONSUMER SERVICES 211
63,650 Omnicare Inc *********
*
2
Mid-Cap Portfolio 410 COMMON STOCK 50
CREDIT INSTITUTIONS 125
1.6%
50,200 World Acceptance Corp *********
*
2
Mid-Cap Portfolio 410 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
4.2%
56,250 I-Stat Corp *********
*
2
Mid-Cap Portfolio 410 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
33,400 CP Clare Corp 668,000
*
2
Mid-Cap Portfolio 410 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
34,375 Littelfuse Inc 816,406
*
2
Mid-Cap Portfolio 410 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
6,875 Steris Corp 333,438
*
2
Mid-Cap Portfolio 410 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
10,775 Target Therapeutics Inc 474,100
*
2
Mid-Cap Portfolio 410 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
3.9%
9,089 Safra Republic Holdings SA 773,129
2
Mid-Cap Portfolio 410 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
84,249 Kinnevik AB *********
2
Mid-Cap Portfolio 410 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
13,850 Franklin Resources Inc 616,325
2
Mid-Cap Portfolio 410 COMMON STOCK 50
INDEPENDENT POWER PROD 120
3.4%
196,350 Trigen Energy Corp *********
2
Mid-Cap Portfolio 410 COMMON STOCK 50
INDUSTRIAL SERVICES 199
7.8%
42,250 Katz Media Group Inc 670,719
*
2
Mid-Cap Portfolio 410 COMMON STOCK 50
INDUSTRIAL SERVICES 199
75,000 Keane Inc *********
*
2
Mid-Cap Portfolio 410 COMMON STOCK 50
INDUSTRIAL SERVICES 199
83,975 First Data Corp *********
2
Mid-Cap Portfolio 410 COMMON STOCK 50
INDUSTRIAL SERVICES 199
550 SAP AG-Vorzug 696,590
2
Mid-Cap Portfolio 410 COMMON STOCK 50
INSURANCE 135
4.8%
8,875 American International Group Inc *********
2
Mid-Cap Portfolio 410 COMMON STOCK 50
INSURANCE 135
35,700 Protective Life Corp 972,825
2
Mid-Cap Portfolio 410 COMMON STOCK 50
INSURANCE 135
76,275 Progressive Corp *********
2
Mid-Cap Portfolio 410 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
2.9%
211,775 JP Foodservice Inc *********
*
2
Mid-Cap Portfolio 410 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
1,099 Huhtamaki OY 35,970
*
2
Mid-Cap Portfolio 410 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
18.7%
95,275 Exide Corp *********
2
Mid-Cap Portfolio 410 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
16,550 Sealed Air Corp 728,200
*
2
Mid-Cap Portfolio 410 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
128,525 Minerals Technologies Inc
*********
2
Mid-Cap Portfolio 410 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
153,675 TheraTech Inc *********
*
2
Mid-Cap Portfolio 410 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
11,875 Crown Cork & Seal Company Inc 595,234
*
2
Mid-Cap Portfolio 410 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
29,225 American Standard Cos 800,034
*
2
Mid-Cap Portfolio 410 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
146,550 Scherer (R P) International Corp *********
*
2
Mid-Cap Portfolio 410 COMMON STOCK 50
RAILROADS 175
0.5%
11,125 Wisconsin Central Transportation Corp 545,125
*
2
Mid-Cap Portfolio 410 COMMON STOCK 50
REAL ESTATE 150
3.3%
127,100 Insignia Financial Group Inc *********
*
2
Mid-Cap Portfolio 410 COMMON STOCK 50
RETAIL TRADE 207
9.2%
49,400 Outback Steakhouse Inc *********
*
2
Mid-Cap Portfolio 410 COMMON STOCK 50
RETAIL TRADE 207
128,342 Wetherspoon (J D) PLC *********
2
Mid-Cap Portfolio 410 COMMON STOCK 50
RETAIL TRADE 207
120,200 Petco Animal Supplies Inc *********
*
2
Mid-Cap Portfolio 410 COMMON STOCK 50
RETAIL TRADE 207
78,875 Autozone Inc *********
*
2
Mid-Cap Portfolio 410 COMMON STOCK 50
RETAIL TRADE 207
26,750 Papa John's International Inc 936,250
*
2
Mid-Cap Portfolio 410 COMMON STOCK 50
RETAIL TRADE
207
9,625 Lone Star Steakhouse & Saloon Inc 291,753
*
2
Mid-Cap Portfolio 410 COMMON STOCK 50
RETAIL TRADE
207
25,450 Viking Office Products Inc 932,106
*
2
Mid-Cap Portfolio 410 COMMON STOCK 50
SECURITIES & COMMODITIE
145 2.0%
58,050 United Asset Management Corp *********
2
Mid-Cap Portfolio 410 COMMON STOCK 50
TRANSPORTATION EQUIPMEN
170 0.5%
19,700 Harley-Davidson Inc 480,188
2
Mid-Cap Portfolio 410 COMMON STOCK 50
WHOLESALE TRADE -CONSUM
209 8.2%
12,675 Amerisource Health Corp 289,142
*
2
Mid-Cap Portfolio 410 COMMON STOCK 50
WHOLESALE TRADE -CONSUM
209
28,450 Nike Inc **
*******
2
Mid-Cap Portfolio 410 COMMON STOCK 50
WHOLESALE TRADE -CONSUM
209
206,200 APS Holding Corp *********
*
2
Mid-Cap Portfolio 410 COMMON STOCK 50
WHOLESALE TRADE -CONSUM
209
6,050 Thompson PBE Inc 99,825
*
2
Mid-Cap Portfolio 410 COMMON STOCK 50
WHOLESALE TRADE -CONSUM
209
4,050 Cardinal Health Inc 191,363
********************
2
Mid-Cap Portfolio 410 PREFERRED STOCK 70
6.5%ELECTRONICS - HIGH TECH
205 6.5%
114,739 Nokia AB *********6,705,961
4,527,942
2
Mid-Cap Portfolio 410 SHORT-TERM INVESTMENT 10
8.9%FOREIGN BANKS
130 4.7%
4,812,000 Canadian Imperial Bank of Commerce
*********
2
Mid-Cap Portfolio 410 SHORT-TERM INVESTMENT 10
SECURITIES & COMMODITIE
145 4.2%
4,318,000 Morgan Stanley Group Inc *********9,127,041
9,127,025 ********************
2
10118
Money Market Portfolio 200 SHORT-TERM INVESTMENT 10
100.0%CANADIAN - PROVINCIAL
25 0.8%
2,000,000 Ontario Province
*********
3
Money Market Portfolio 200 SHORT-TERM INVESTMENT 10
COMMUNICATIONS
190 3.3%
8,000,000 AT&T Corp *********
3
Money Market Portfolio 200 SHORT-TERM INVESTMENT 10
CREDIT INSTITUTIONS
125 36.1%
9,900,000 Halifax Building Society *********
3
Money Market Portfolio 200 SHORT-TERM INVESTMENT 10
CREDIT INSTITUTIONS
125
1,000,000 Exxon Capital Corp *********
3
Money Market Portfolio 200 SHORT-TERM INVESTMENT 10
CREDIT INSTITUTIONS
125
10,400,000 Ford Motor Credit Co *********
3
Money Market Portfolio 200 SHORT-TERM INVESTMENT 10
CREDIT INSTITUTIONS
125
4,350,000 General Electric Capital Corp *********
3
Money Market Portfolio 200 SHORT-TERM INVESTMENT 10
CREDIT INSTITUTIONS
125
11,850,000 American Express Credit Corp *********
3
Money Market Portfolio 200 SHORT-TERM INVESTMENT 10
CREDIT INSTITUTIONS
125
1,000,000 Chevron Oil Finance Co 992,133
3
Money Market Portfolio 200 SHORT-TERM INVESTMENT 10
CREDIT INSTITUTIONS
125
6,000,000 Paccar Financial Corp *********
3
Money Market Portfolio 200 SHORT-TERM INVESTMENT 10
CREDIT INSTITUTIONS
125
9,500,000 Sanwa Business Credit Corp *********
3
Money Market Portfolio 200 SHORT-TERM INVESTMENT 10
CREDIT INSTITUTIONS
125
9,900,000 Toyota Motor Credit Corp *********
3
Money Market Portfolio 200 SHORT-TERM INVESTMENT 10
CREDIT INSTITUTIONS
125
10,023,000 TransAmerica Financial Corp *********
3
Money Market Portfolio 200 SHORT-TERM INVESTMENT 10
CREDIT INSTITUTIONS 125
1,750,000 Commercial Credit Corp Ltd *********
3
Money Market Portfolio 200 SHORT-TERM INVESTMENT 10
CREDIT INSTITUTIONS 125
1,450,000 Ford Motor Credit Co *********
3
Money Market Portfolio 200 SHORT-TERM INVESTMENT 10
CREDIT INSTITUTIONS 125
3,000,000 Xerox Credit Corp *********
3
Money Market Portfolio 200 SHORT-TERM INVESTMENT 10
CREDIT INSTITUTIONS 125
2,300,000 Associates Corp of North America *********
3
Money Market Portfolio 200 SHORT-TERM INVESTMENT 10
CREDIT INSTITUTIONS 125
1,800,000 AT & T Capital Corp *********
3
Money Market Portfolio 200 SHORT-TERM INVESTMENT 10
CREDIT INSTITUTIONS 125
250,000 Associates Corp of North America 254,211
3
Money Market Portfolio 200 SHORT-TERM INVESTMENT 10
CREDIT INSTITUTIONS 125
1,000,000 Associates Corp of North America 999,301
3
Money Market Portfolio 200 SHORT-TERM INVESTMENT 10
CREDIT INSTITUTIONS 125
1,700,000 Bellsouth Capital Funding *********
3
Money Market Portfolio 200 SHORT-TERM INVESTMENT 10
ELECTRIC 75
3.9%
2,715,000 Duke Power Co *********
3
Money Market Portfolio 200 SHORT-TERM INVESTMENT 10
ELECTRIC 75
6,673,000 Baltimore Gas & Electric Co *********
3
Money Market Portfolio 200 SHORT-TERM INVESTMENT 10
ELECTRONICS - HIGH TECH 205
8.6%
10,800,000 Hewlett-Packard Co *********
3
Money Market Portfolio 200 SHORT-TERM INVESTMENT 10
ELECTRONICS - HIGH TECH 205
8,600,000 Xerox Corp *********
3
Money Market Portfolio 200 SHORT-TERM INVESTMENT 10
ELECTRONICS - HIGH TECH 205
1,500,000 Sharp Electronics Corp *********
3
Money Market Portfolio 200 SHORT-TERM INVESTMENT 10
FOREIGN BANKS 130
7.2%
10,000,000 Canadian Imperial Bank of Commerce *********
3
Money Market Portfolio 200 SHORT-TERM INVESTMENT 10
FOREIGN BANKS 130
7,500,000 Bank of Nova Scotia *********
3
Money Market Portfolio 200 SHORT-TERM INVESTMENT 10
INSURANCE 135
7.1%
6,000,000 American General Corp *********
3
Money Market Portfolio 200 SHORT-TERM INVESTMENT 10
INSURANCE 135
9,400,000 American International Group Inc *********
3
Money Market Portfolio 200 SHORT-TERM INVESTMENT 10
INSURANCE 135
1,827,000 TransAmerica Corp *********
3
Money Market Portfolio 200 SHORT-TERM INVESTMENT 10
MFTG - CONSUMER PRODS. 215
8.3%
9,450,000 McGraw-Hill Inc *********
3
Money Market Portfolio 200 SHORT-TERM INVESTMENT 10
MFTG - CONSUMER PRODS. 215
10,906,000 Hasbro Inc *********
3
Money Market Portfolio 200 SHORT-TERM INVESTMENT 10
OTHER TRANS. SERVICES 165
4.3%
10,400,000 PHH Corp *********
3
Money Market Portfolio 200 SHORT-TERM INVESTMENT 10
RETAIL TRADE 207
0.4%
1,000,000 Penney (J C) & Company Inc 998,020
3
Money Market Portfolio 200 SHORT-TERM INVESTMENT 10
SECURITIES & COMMODITIE 145
13.3%
10,000,000 Prudential Funding Corp *********
3
Money Market Portfolio 200 SHORT-TERM INVESTMENT 10
SECURITIES & COMMODITIE 145
1,500,000 Morgan Stanley Group Inc *********
3
Money Market Portfolio 200 SHORT-TERM INVESTMENT 10
SECURITIES & COMMODITIE
145
2,300,000 Morgan Stanley Group Inc *********
3
Money Market Portfolio 200 SHORT-TERM INVESTMENT 10
SECURITIES & COMMODITIE
145
11,700,000 C S First Boston Inc *********
3
Money Market Portfolio 200 SHORT-TERM INVESTMENT 10
SECURITIES & COMMODITIE
145
6,900,000 Merrill Lynch & Company Inc *********
3
Money Market Portfolio 200 SHORT-TERM INVESTMENT 10
TELEPHONE
85 0.5%
1,100,000 Ameritech Corp *********
3
Money Market Portfolio 200 SHORT-TERM INVESTMENT 10
WHOLESALE TRADE -CONSUM
209 6.1%
11,800,000 Cargill Inc *********
3
Money Market Portfolio 200 SHORT-TERM INVESTMENT 10
WHOLESALE TRADE -CONSUM
209
3,000,000 Bausch & Lomb Inc
***************************** ********************
3
5925
Stock Index Portfolio 220 COMMON STOCK 50
98.8%AGENCY 45
0.3%
23,900 Federal Home Loan Mortgage Corp *********
4
Stock Index Portfolio 220 COMMON STOCK 50
AGRICULTURE
115 0.0%
7,900 Dole Food Company Inc 230,088
4
Stock Index Portfolio 220 COMMON STOCK 50
AIR
160 0.4%
18,950 Southwest Airlines Co 452,431
4
Stock Index Portfolio 220 COMMON STOCK 50
AIR
160
5,500 Pittston Services Group 132,000
4
Stock Index Portfolio 220 COMMON STOCK 50
AIR
160
1,800 Alaska Air Group Inc 33,075
*
4
Stock Index Portfolio 220 COMMON STOCK 50
AIR
160
2,800 Airborne Freight Corp 56,700
4
Stock Index Portfolio 220 COMMON STOCK 50
AIR
160
6,700 Delta Air Lines Inc 494,125
4
Stock Index Portfolio 220 COMMON STOCK 50
AIR
160
7,800 U S Air Group Inc 90,675
*
4
Stock Index Portfolio 220 COMMON STOCK 50
AIR
160
10,000 AMR Corp 746,250
*
4
Stock Index Portfolio 220 COMMON STOCK 50
AIR
160
4,400 Atlantic Southeast Airlines Inc 132,550
4
Stock Index Portfolio 220 COMMON STOCK 50
COMMUNICATIONS
190 4.9%
5,000 Multimedia Inc 193,750
*
4
Stock Index Portfolio 220 COMMON STOCK 50
COMMUNICATIONS
190
47,503 Viacom Inc *********
*
4
Stock Index Portfolio 220 COMMON STOCK 50
COMMUNICATIONS
190
20,300 Capital Cities/ABC Inc *********
4
Stock Index Portfolio 220 COMMON STOCK 50
COMMUNICATIONS
190
14,150 Nextel Communications Inc 199,869
*
4
Stock Index Portfolio 220 COMMON STOCK 50
COMMUNICATIONS
190
8,100 CBS Inc 542,700
4
Stock Index Portfolio 220 COMMON STOCK 50
COMMUNICATIONS
190
3,200 TCA Cable TV Inc 86,400
4
Stock Index Portfolio 220 COMMON STOCK 50
COMMUNICATIONS
190
46,050 Sprint Corp *********
4
Stock Index Portfolio 220 COMMON STOCK 50
COMMUNICATIONS
190
7,500 Telephone & Data Systems Inc 272,813
4
Stock Index Portfolio 220 COMMON STOCK 50
COMMUNICATIONS 190
3,833 Chris-Craft Industries Inc 134,155
*
4
Stock Index Portfolio 220 COMMON STOCK 50
COMMUNICATIONS 190
86,200 Tele-Communications Inc *********
*
4
Stock Index Portfolio 220 COMMON STOCK 50
COMMUNICATIONS 190
6,200 Comsat Corp 121,675
4
Stock Index Portfolio 220 COMMON STOCK 50
COMMUNICATIONS 190
31,600 Comcast Corp 586,559
4
Stock Index Portfolio 220 COMMON STOCK 50
COMMUNICATIONS 190
9,500 Cabletron Systems Inc 505,875
*
4
Stock Index Portfolio 220 COMMON STOCK 50
COMMUNICATIONS 190
56,000 Pacific Telesis Group *********
4
Stock Index Portfolio 220 COMMON STOCK 50
COMMUNICATIONS 190
5,400 Vanguard Cellular Systems Inc 129,600
*
4
Stock Index Portfolio 220 COMMON STOCK 50
COMMUNICATIONS 190
50,200 Time Warner Inc *********
4
Stock Index Portfolio 220 COMMON STOCK 50
COMMUNICATIONS 190
65,300 Airtouch Communications Inc *********
*
4
Stock Index Portfolio 220 COMMON STOCK 50
COMMUNICATIONS 190
22,320 Worldcom Inc 602,640
*
4
Stock Index Portfolio 220 COMMON STOCK 50
COMMUNICATIONS 190
208,900 AT&T Corp *********
4
Stock Index Portfolio 220 COMMON STOCK 50
COMMUNICATIONS 190
5,200 Belo (A H) Corp 159,250
4
Stock Index Portfolio 220 COMMON STOCK 50
COMMUNICATIONS 190
8,700 Tribune Co 533,963
4
Stock Index Portfolio 220 COMMON STOCK 50
COMMUNICATIONS 190
18,500 Gannett Company Inc *********
4
Stock Index Portfolio 220 COMMON STOCK 50
CONSTRUCTION 203
0.1% 1,600 Granite Construction Inc
35,600
4
Stock Index Portfolio 220 COMMON STOCK 50
CONSTRUCTION 203
3,800 Centex Corp 107,350
4
Stock Index Portfolio 220 COMMON STOCK 50
CONSTRUCTION 203
9,987 Clayton Homes Inc 163,537
4
Stock Index Portfolio 220 COMMON STOCK 50
CONSTRUCTION 203
4,400 Morrison Knudsen Corp 29,700
4
Stock Index Portfolio 220 COMMON STOCK 50
CONSTRUCTION 203
4,300 Kaufman & Broad Home Corp 62,350
4
Stock Index Portfolio 220 COMMON STOCK 50
CONSTRUCTION 203
3,600 Pulte Corp 100,800
4
Stock Index Portfolio 220 COMMON STOCK 50
CONSUMER SERVICES 211
6.4% 13,550 Promus Companies Inc
528,450 *
4
Stock Index Portfolio 220 COMMON STOCK 50
CONSUMER SERVICES 211
6,900 Bard (C R) Inc 207,000
4
Stock Index Portfolio 220 COMMON STOCK 50
CONSUMER SERVICES 211
6,200 Bally Entertainment Corp 75,950
*
4
Stock Index Portfolio 220 COMMON STOCK 50
CONSUMER SERVICES 211
4,100 Pacificare Health Systems Inc 209,100
*
4
Stock Index Portfolio 220 COMMON STOCK 50
CONSUMER SERVICES 211
13,600 Circus Circus Enterprises Inc 479,400
*
4
Stock Index Portfolio 220 COMMON STOCK 50
CONSUMER SERVICES 211
13,800 Block (H & R) Inc 567,525
4
Stock Index Portfolio 220 COMMON STOCK 50
CONSUMER SERVICES 211
8,800 Becton Dickinson & Co 512,600
4
Stock Index Portfolio 220 COMMON STOCK 50
CONSUMER SERVICES 211
4,400 Biogen Inc 195,800
*
4
Stock Index Portfolio 220 COMMON STOCK 50
CONSUMER SERVICES 211
15,300 Biomet Inc 237,150
*
4
Stock Index Portfolio 220 COMMON STOCK 50
CONSUMER SERVICES 211
12,700 Service Corp International 401,638
4
Stock Index Portfolio 220 COMMON STOCK 50
CONSUMER SERVICES 211
6,100 Carter-Wallace Inc 69,388
4
Stock Index Portfolio 220 COMMON STOCK 50
CONSUMER SERVICES 211
12,900 Beverly Enterprises Inc 159,638
*
4
Stock Index Portfolio 220 COMMON STOCK 50
CONSUMER SERVICES 211
66,900 Bristol-Myers Squibb Co *********
4
Stock Index Portfolio 220 COMMON STOCK 50
CONSUMER SERVICES 211
2,200 Cordis Corp 146,850
*
4
Stock Index Portfolio 220 COMMON STOCK 50
CONSUMER SERVICES 211
58,442 Columbia/HCA Healthcare Corp *********
4
Stock Index Portfolio 220 COMMON STOCK 50
CONSUMER SERVICES 211
85,200 Johnson & Johnson *********
4
Stock Index Portfolio 220 COMMON STOCK 50
CONSUMER SERVICES 211
5,300 FHP International Corp 121,900
*
4
Stock Index Portfolio 220 COMMON STOCK 50
CONSUMER SERVICES 211
6,000 Forest Laboratories Inc 266,250
*
4
Stock Index Portfolio 220 COMMON STOCK 50
CONSUMER SERVICES 211
16,256 Laboratory Corp of America 215,392
*
4
Stock Index Portfolio 220 COMMON STOCK 50
CONSUMER SERVICES 211
4,800 King World Productions Inc 194,400
*
4
Stock Index Portfolio 220 COMMON STOCK 50
CONSUMER SERVICES 211
3,500 Genzyme Corp 140,000
*
4
Stock Index Portfolio 220 COMMON STOCK 50
CONSUMER SERVICES 211
15,150 Ivax Corp 373,069
4
Stock Index Portfolio 220 COMMON STOCK 50
CONSUMER SERVICES 211
16,150 Marriott International Inc 579,381
4
Stock Index Portfolio 220 COMMON STOCK 50
CONSUMER SERVICES 211
7,500 United States Surgical Corp 156,563
4
Stock Index Portfolio 220 COMMON STOCK 50
CONSUMER SERVICES 211
6,400 Hilton Hotels Corp 449,600
4
Stock Index Portfolio 220 COMMON STOCK 50
CONSUMER SERVICES 211
10,700 Healthsouth Rehabilitation Corp 185,913
*
4
Stock Index Portfolio 220 COMMON STOCK 50
CONSUMER SERVICES 211
4,500 HealthCare Compare Corp 135,000
*
4
Stock Index Portfolio 220 COMMON STOCK 50
CONSUMER SERVICES 211
8,200 Manor Care Inc 238,825
4
Stock Index Portfolio 220 COMMON STOCK 50
CONSUMER SERVICES 211
15,200 Medtronic Inc *********
4
Stock Index Portfolio 220 COMMON STOCK 50
CONSUMER SERVICES 211
5,800 Community Psychiatric Centers 65,250
4
Stock Index Portfolio 220 COMMON STOCK 50
CONSUMER SERVICES 211
15,250 CUC International Inc 640,500
*
4
Stock Index Portfolio 220 COMMON STOCK 50
CONSUMER SERVICES 211
5,100 Continental Medical Systems Inc 49,088
*
4
Stock Index Portfolio 220 COMMON STOCK 50
CONSUMER SERVICES 211
8,650 Novacare Inc 70,281
*
4
Stock Index Portfolio 220 COMMON STOCK 50
CONSUMER SERVICES 211
5,200 Coram Healthcare Corp 73,450
*
4
Stock Index Portfolio 220 COMMON STOCK 50
CONSUMER SERVICES 211
1,800 CPI Corp 34,425
4
Stock Index Portfolio 220 COMMON STOCK 50
CONSUMER SERVICES 211
2,200 Nellcor Inc 99,000
*
4
Stock Index Portfolio 220 COMMON STOCK 50
CONSUMER SERVICES 211
2,100 Datascope Corp 36,225
*
4
Stock Index Portfolio 220 COMMON STOCK 50
CONSUMER SERVICES 211
163,228 Merck & Company Inc *********
4
Stock Index Portfolio 220 COMMON STOCK 50
CONSUMER SERVICES 211
3,200 Diagnostek Inc 51,200
*
4
Stock Index Portfolio 220 COMMON STOCK 50
CONSUMER SERVICES 211
1,700 Diagnostic Products Corp 62,050
4
Stock Index Portfolio 220 COMMON STOCK 50
CONSUMER SERVICES 211
12,025 Mirage Resorts Inc 368,266
*
4
Stock Index Portfolio 220 COMMON STOCK 50
CONSUMER SERVICES 211
13,900 Whitman Corp 269,313
4
Stock Index Portfolio 220 COMMON STOCK 50
CONSUMER SERVICES 211
22,850 United Healthcare Corp 945,419
4
Stock Index Portfolio 220 COMMON STOCK 50
CONSUMER SERVICES 211
4,200 Health Care & Retirement Corp 122,850
*
4
Stock Index Portfolio 220 COMMON STOCK 50
CONSUMER SERVICES 211
6,100 St Jude Medical Inc 305,763
4
Stock Index Portfolio 220 COMMON STOCK 50
CONSUMER SERVICES 211
5,100 Surgical Care Affiliates Inc 97,538
4
Stock Index Portfolio 220 COMMON STOCK 50
CONSUMER SERVICES 211
1,200 Angelica Corp 30,000
4
Stock Index Portfolio 220 COMMON STOCK 50
CONSUMER SERVICES 211
68,800 The Walt Disney Co *********
4
Stock Index Portfolio 220 COMMON STOCK 50
CONSUMER SERVICES 211
17,500 Amgen Inc *********
*
4
Stock Index Portfolio 220 COMMON STOCK 50
CONSUMER SERVICES 211
8,500 Allergan Inc 230,563
4
Stock Index Portfolio 220 COMMON STOCK 50
CONSUMER SERVICES 211
6,400 Stryker Corp 245,600
4
Stock Index Portfolio 220 COMMON STOCK 50
CONSUMER SERVICES 211
26,400 Tenet Healthcare Corp 379,500
*
4
Stock Index Portfolio 220 COMMON STOCK 50
CONSUMER SERVICES 211
261 Allergan Ligand Retinoid Therapeutics 0
*
4
Stock Index Portfolio 220 COMMON STOCK 50
CONSUMER SERVICES 211
21,150 U S Healthcare Inc 647,719
4
Stock Index Portfolio 220 COMMON STOCK 50
CONSUMER SERVICES 211
3,800 Acuson Corp 46,075
*
4
Stock Index Portfolio 220 COMMON STOCK 50
CREDIT INSTITUTIONS 125
7.2% 6,100 Regions Financial Corp
226,463
4
Stock Index Portfolio 220 COMMON STOCK 50
CREDIT INSTITUTIONS 125
24,800 Morgan (J P) & Company Inc *********
4
Stock Index Portfolio 220 COMMON STOCK 50
CREDIT INSTITUTIONS 125
7,600 Meridian Bancorp Inc 261,250
4
Stock Index Portfolio 220 COMMON STOCK 50
CREDIT INSTITUTIONS 125
19,353 Mellon Bank Corp 805,569
4
Stock Index Portfolio 220 COMMON STOCK 50
CREDIT INSTITUTIONS 125
6,300 Mercantile Bankshares Corp 141,750
4
Stock Index Portfolio 220 COMMON STOCK 50
CREDIT INSTITUTIONS 125
6,975 Mercantile Bancorporation Inc 313,003
4
Stock Index Portfolio 220 COMMON STOCK 50
CREDIT INSTITUTIONS 125
19,650 MBNA Corp 663,188
4
Stock Index Portfolio 220 COMMON STOCK 50
CREDIT INSTITUTIONS 125
12,200 Marshall & Ilsley Corp 276,025
4
Stock Index Portfolio 220 COMMON STOCK 50
CREDIT INSTITUTIONS 125
36,000 Federal National Mortgage Association *********
4
Stock Index Portfolio 220 COMMON STOCK 50
CREDIT INSTITUTIONS 125
13,000 U S Bancorp 312,806
4
Stock Index Portfolio 220 COMMON STOCK 50
CREDIT INSTITUTIONS 125
8,600 Fifth Third Bancorp 483,750
4
Stock Index Portfolio 220 COMMON STOCK 50
CREDIT INSTITUTIONS 125
19,400 National City Corp 569,875
4
Stock Index Portfolio 220 COMMON STOCK 50
CREDIT INSTITUTIONS 125
22,600 Wachovia Corp 807,950
4
Stock Index Portfolio 220 COMMON STOCK 50
CREDIT INSTITUTIONS 125
15,200 Suntrust Banks Inc 885,400
4
Stock Index Portfolio 220 COMMON STOCK 50
CREDIT INSTITUTIONS 125
5,000 Crestar Financial Corp 245,000
4
Stock Index Portfolio 220 COMMON STOCK 50
CREDIT INSTITUTIONS 125
52,500 Citicorp *********
4
Stock Index Portfolio 220 COMMON STOCK 50
CREDIT INSTITUTIONS 125
15,600 Comerica Inc 501,150
4
Stock Index Portfolio 220 COMMON STOCK 50
CREDIT INSTITUTIONS 125
42,800 Norwest Corp *********
4
Stock Index Portfolio 220 COMMON STOCK 50
CREDIT INSTITUTIONS 125
19,100 Corestates Financial Corp 666,113
4
Stock Index Portfolio 220 COMMON STOCK 50
CREDIT INSTITUTIONS 125
7,400 Northern Trust Corp 297,850
4
Stock Index Portfolio 220 COMMON STOCK 50
CREDIT INSTITUTIONS 125
65,500 American Express Co *********
4
Stock Index Portfolio 220 COMMON STOCK 50
CREDIT INSTITUTIONS 125
23,400 Chase Manhattan Corp *********
4
Stock Index Portfolio 220 COMMON STOCK 50
CREDIT INSTITUTIONS 125
31,800 Chemical Banking Corp *********
4
Stock Index Portfolio 220 COMMON STOCK 50
CREDIT INSTITUTIONS 125
35,815 NationsBank Corp *********
4
Stock Index Portfolio 220 COMMON STOCK 50
CREDIT INSTITUTIONS 125
30,200 PNC Bank Corp 796,525
4
Stock Index Portfolio 220 COMMON STOCK 50
CREDIT INSTITUTIONS 125
4,700 Wilmington Trust Co 132,775
4
Stock Index Portfolio 220 COMMON STOCK 50
CREDIT INSTITUTIONS 125
5,200 Central Fidelity Banks Inc 158,600
4
Stock Index Portfolio 220 COMMON STOCK 50
CREDIT INSTITUTIONS 125
4,100 Dauphin Deposit Corp 99,425
4
Stock Index Portfolio 220 COMMON STOCK 50
CREDIT INSTITUTIONS 125
21,100 NBD Bancorp Inc 675,200
4
Stock Index Portfolio 220 COMMON STOCK 50
CREDIT INSTITUTIONS 125
11,850 First Chicago Corp 709,519
4
Stock Index Portfolio 220 COMMON STOCK 50
CREDIT INSTITUTIONS 125
17,900 First Bank System Inc 733,900
4
Stock Index Portfolio 220 COMMON STOCK 50
CREDIT INSTITUTIONS 125
6,000 City National Corp 68,250
4
Stock Index Portfolio 220 COMMON STOCK 50
CREDIT INSTITUTIONS 125
10,650 First Fidelity Bancorp 628,350
4
Stock Index Portfolio 220 COMMON STOCK 50
CREDIT INSTITUTIONS 125
25,200 Bank of New York Company Inc *********
4
Stock Index Portfolio 220 COMMON STOCK 50
CREDIT INSTITUTIONS 125
16,600 Boatmen's Bancshares Inc 585,150
4
Stock Index Portfolio 220 COMMON STOCK 50
CREDIT INSTITUTIONS 125
17,800 Great Western Financial Corp 367,125
4
Stock Index Portfolio 220 COMMON STOCK 50
CREDIT INSTITUTIONS 125
12,800 Barnett Banks Inc 656,000
4
Stock Index Portfolio 220 COMMON STOCK 50
CREDIT INSTITUTIONS 125
10,300 Bankers Trust New York Corp 638,600
4
Stock Index Portfolio 220 COMMON STOCK 50
CREDIT INSTITUTIONS 125
49,374 BankAmerica Corp *********
4
Stock Index Portfolio 220 COMMON STOCK 50
CREDIT INSTITUTIONS 125
5,500 Bancorp Hawaii Inc 165,000
4
Stock Index Portfolio 220 COMMON STOCK 50
CREDIT INSTITUTIONS 125
14,700 Bank of Boston Corp 551,250
4
Stock Index Portfolio 220 COMMON STOCK 50
CREDIT INSTITUTIONS 125
17,000 Shawmut National Corp 541,875
4
Stock Index Portfolio 220 COMMON STOCK 50
CREDIT INSTITUTIONS 125
52,055 Banc One Funding Corp *********
4
Stock Index Portfolio 220 COMMON STOCK 50
CREDIT INSTITUTIONS 125
12,800 Household International Inc 633,600
4
Stock Index Portfolio 220 COMMON STOCK 50
CREDIT INSTITUTIONS 125
6,500 Wells Fargo & Co *********
4
Stock Index Portfolio 220 COMMON STOCK 50
CREDIT INSTITUTIONS 125
10,775 Southtrust Corp 249,172
4
Stock Index Portfolio 220 COMMON STOCK 50
CREDIT INSTITUTIONS 125
14,400 Hibernia Corp 127,800
4
Stock Index Portfolio 220 COMMON STOCK 50
CREDIT INSTITUTIONS 125
4,900 West One Bancorp 163,538
4
Stock Index Portfolio 220 COMMON STOCK 50
CREDIT INSTITUTIONS 125
7,700 Golden West Financial Corp 362,863
4
Stock Index Portfolio 220 COMMON STOCK 50
CREDIT INSTITUTIONS 125
7,300 UJB Financial Corp 221,738
4
Stock Index Portfolio 220 COMMON STOCK 50
CREDIT INSTITUTIONS 125
7,000 Beneficial Corp 308,000
4
Stock Index Portfolio 220 COMMON STOCK 50
CREDIT INSTITUTIONS 125
10,900 State Street Boston Corp 401,938
4
Stock Index Portfolio 220 COMMON STOCK 50
CREDIT INSTITUTIONS 125
4,600 First Tennessee National Corp 213,325
4
Stock Index Portfolio 220 COMMON STOCK 50
CREDIT INSTITUTIONS 125
6,500 First Security Corp 182,000
4
Stock Index Portfolio 220 COMMON STOCK 50
CREDIT INSTITUTIONS 125
18,650 Fleet/Norstar Financial Group Inc 692,381
4
Stock Index Portfolio 220 COMMON STOCK 50
CREDIT INSTITUTIONS 125
22,700 First Union Corp *********
4
Stock Index Portfolio 220 COMMON STOCK 50
CREDIT INSTITUTIONS 125
4,500 First Virginia Banks Inc 168,750
4
Stock Index Portfolio 220 COMMON STOCK 50
CREDIT INSTITUTIONS 125
8,300 First of America Bank Corp 308,138
4
Stock Index Portfolio 220 COMMON STOCK 50
CREDIT INSTITUTIONS 125
15,500 Ahmanson (H F) & Co 341,000
4
Stock Index Portfolio 220 COMMON STOCK 50
CREDIT INSTITUTIONS 125
10,000 First Interstate Bancorp 802,500
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRIC
75 4.4%
16,500 Northeast Utilities 371,250
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRIC
75
8,900 Northern States Power Co 410,513
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRIC
75
12,600 Florida Progress Corp 393,750
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRIC
75
4,400 LG&E Energy Corp 171,600
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRIC
75
8,400 Nipsco Industries Inc 285,600
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRIC
75
31,000 Consolidated Edison Company of New Yor 914,500
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRIC
75
17,300 Houston Industries Inc 728,763
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRIC
75
20,100 Ohio Edison Co 454,763
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRIC
75
5,300 Oklahoma Gas & Electric Co 186,163
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRIC 75
15,400 Teco Energy Inc 336,875
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRIC 75
11,600 CMS Energy Corp 285,650
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRIC 75
3,800 Hawaiian Electric Industries Inc 138,225
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRIC 75
4,100 Minnesota Power & Light Co 111,725
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRIC 75
19,100 Niagara Mohawk Power Corp 281,725
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRIC 75
24,500 American Electric Power Company Inc 860,563
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRIC 75
13,500 Union Electric Co 502,875
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRIC 75
29,800 Texas Utilities Co *********
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRIC 75
15,200 General Public Utilities Corp 452,200
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRIC 75
8,200 Kansas City Power & Light Co 187,575
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRIC 75
22,800 Dominion Resources Inc 832,200
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRIC 75
19,100 Detroit Edison Co 563,450
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRIC 75
7,100 Montana Power Co 163,300
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRIC 75
27,000 Duke Power Co *********
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRIC 75
9,838 AES Corp 186,922
*
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRIC 75
5,000 Ipalco Enterprises Inc 159,375
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRIC 75
5,000 Idaho Power Co 126,250
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRIC 75
15,800 Allegheny Power System Inc 371,300
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRIC 75
28,300 Unicom Corp 753,488
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRIC 75
24,500 FPL Group Inc 946,313
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRIC 75
10,000 Illinova Corp 253,750
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRIC 75
9,400 New York State Electric & Gas Corp 219,725
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRIC 75
7,900 Delmarva Power & Light Co 161,950
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRIC 75
8,600 New England Electric System 296,700
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRIC 75
6,100 Nevada Power Co 125,813
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRIC 75
30,100 Entergy Corp 726,163
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRIC 75
56,800 Pacific Gas & Electric Co *********
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRIC 75
5,500 Public Service Company of New Mexico 78,375
*
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRIC 75
11,500 Pinnacle West Capital Corp 281,750
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRIC 75
19,500 Baltimore Gas & Electric Co 487,500
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRIC 75
14,400 Wisconsin Energy Corp 403,200
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRIC 75
59,000 SCECorp *********
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRIC 75
4,300 Central Maine Power Co 51,063
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRIC 75
29,300 Peco Energy Co 809,413
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRIC 75
7,100 Atlantic Energy Inc 134,013
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRIC 75
12,800 Scana Corp 286,400
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRIC 75
5,900 Utilicorp United Inc 165,938
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRIC 75
87,900 Southern Co *********
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRIC 75
6,700 Portland General Corp 148,238
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRIC 75
15,600 Potomac Electric Power Co 335,400
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRIC 75
25,200 Central & South West Corp 661,500
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRIC 75
3,000 Central Louisiana Electric Company Inc 70,500
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRIC 75
1,900 Black Hills Corp 39,900
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRIC 75
5,400 Southwestern Public Service Co 159,300
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRIC 75
8,400 Puget Sound Power & Light Co 192,150
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRIC 75
37,500 PacifiCorp 703,125
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRIC 75
4,100 WPL Holdings Inc 117,363
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRIC 75
32,300 Public Service Enterprise Group Inc 896,325
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRIC 75
20,600 Carolina Power & Light Co 623,150
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRIC 75
8,300 Public Service Company of Colorado 269,750
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
13.4% 20,900 Silicon Graphics Inc
833,388 *
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
3,800 Beckman Instruments Inc 105,925
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
223,600 General Electric Co *********
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
16,300 Raytheon Co *********
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
44,900 Eastman Kodak Co *********
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
15,100 DSC Communications Corp 702,150
*
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
27,100 Micron Technology Inc *********
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
11,100 Applied Materials Inc 961,538
*
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
1,800 Advanced Technology Laboratories Inc 28,350
*
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
77,700 Motorola Inc *********
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
5,600 York International Corp 252,000
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
6,100 Quantum Corp 139,538
*
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
36,900 Baxter International Inc *********
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
10,650 Molex Inc 412,688
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
6,200 General Signal Corp 246,450
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
12,600 Sun Microsystems Inc 611,100
*
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
27,700 AMP Inc *********
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
4,300 AST Research Inc 66,650
*
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
6,900 Mentor Graphics Corp 119,025
*
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
5,400 Johnson Controls Inc 305,100
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
16,300 United Technologies Corp *********
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
16,000 LSI Logic Corp 626,000
*
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
9,650 Sensormatic Electronics Corp 342,575
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
10,100 Scientific-Atlanta Inc 222,200
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
11,200 Loral Corp 579,600
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
9,300 Seagate Technology Inc 365,025
*
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
11,200 Black & Decker Corp 345,800
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
19,830 Boston Scientific Corp 632,081
*
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
3,100 Stratus Computer Inc 96,100
*
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
26,366 Lockheed Martin Corp *********
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
6,100 Litton Industries Inc 224,938
*
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
6,900 Storage Technology Corp 169,913
*
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
3,500 M/A-Com Inc 41,125
*
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
4,000 Briggs & Stratton Corp 138,000
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
30,800 Emerson Electric Co *********
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
14,200 Maytag Corp 227,200
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
10,650 Thermo Electron Corp 428,663
*
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
2,200 Measurex Corp 66,825
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
16,400 National Semiconductor Corp 455,100
*
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
4,700 Keystone International Inc 92,238
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
4,500 Varian Associates Inc 248,625
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
2,900 Exabyte Corp 40,238
*
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
3,300 Magnetek Inc 44,963
*
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
2,600 Thomas & Betts Corp 177,775
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
7,910 Mark IV Industries Inc 170,065
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
4,150 Sequent Computer Systems Inc 73,920
*
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
6,033 Federal Signal Corp 130,464
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
15,400 Tandem Computers Inc 248,325
*
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
4,050 Diebold Inc 176,175
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
19,400 Digital Equipment Corp 790,550
*
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
3,500 Convex Computer Corp 15,750
*
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
3,150 Octel Communications Corp 92,138
*
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
4,400 Hubbell Inc 248,600
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
48,400 Novell Inc 964,951
*
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
12,200 American Power Conversion Corp 279,075
*
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
4,300 Tektronix Inc 211,775
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
2,700 OEA Inc 79,988
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
7,300 Teledyne Inc 178,850
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
11,600 Tellabs Inc 558,250
*
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
47,300 Westinghouse Electric Corp 691,763
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
22,600 Unisys Corp 245,775
*
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
6,900 Conner Peripherals Inc 85,388
*
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
3,100 Xilinx Inc 291,400
*
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
33,500 Northern Telecom Ltd *********
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
8,200 Adobe Systems Inc 475,600
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
35,500 Cisco Systems Inc *********
*
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
3,950 Cirrus Logic Inc 247,614
*
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
5,100 Harris Corp 263,288
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
67,400 Hewlett-Packard Co *********
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
4,350 Ametek Inc 78,300
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
34,500 Compaq Computer Corp *********
*
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
14,100 Xerox Corp *********
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
16,800 Honeywell Inc 724,500
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
9,950 Analog Devices Inc 338,300
*
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
6,300 Atmel Corp 348,863
*
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
5,500 Perkin-Elmer Corp 195,250
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
6,700 W W Grainger Inc 393,625
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
5,050 Andrew Corp 292,269
*
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
3,300 Cray Research Inc 80,438
*
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
17,200 International Game Technology 264,450
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
4,900 Data General Corp 47,163
*
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
6,000 Intergraph Corp 66,750
*
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
76,700 International Business Machines Corp *********
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
13,600 Advanced Micro Devices Inc 494,700
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
5,200 Dell Computer Corp 312,650
*
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
15,600 Amdahl Corp 173,550
*
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
5,300 Cypress Semiconductor Corp 214,650
*
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
4,900 Teradyne Inc 320,338
*
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
3,500 Dentsply International Inc 126,000
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
12,300 Texas Instruments Inc *********
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
16,000 Apple Computer Inc 742,992
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
109,400 Intel Corp *********
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
3,400 Symbol Technologies Inc 130,475
*
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
5,900 Polaroid Corp 240,425
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
5,400 Avnet Inc 261,225
4
Stock Index Portfolio 220 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
4,800 Linear Technology Corp 316,800
4
Stock Index Portfolio 220 COMMON STOCK 50
ENVIRONMENTAL SERVICES 201
0.7%
10,100 Tyco International Inc 545,400
4
Stock Index Portfolio 220 COMMON STOCK 50
ENVIRONMENTAL SERVICES 201
4,250 Air & Water Technologies Corp 23,906
*
4
Stock Index Portfolio 220 COMMON STOCK 50
ENVIRONMENTAL SERVICES 201
63,900 WMX Technologies Inc *********
4
Stock Index Portfolio 220 COMMON STOCK 50
ENVIRONMENTAL SERVICES 201
1,600 Zurn Industries Inc 32,000
4
Stock Index Portfolio 220 COMMON STOCK 50
ENVIRONMENTAL SERVICES 201
28,100 Browning-Ferris Industries Inc *********
4
Stock Index Portfolio 220 COMMON STOCK 50
ENVIRONMENTAL SERVICES 201
4,700 Rollins Inc 112,800
4
Stock Index Portfolio 220 COMMON STOCK 50
ENVIRONMENTAL SERVICES 201
8,000 Rollins Environmental Services Inc 38,000
*
4
Stock Index Portfolio 220 COMMON STOCK 50
ENVIRONMENTAL SERVICES 201
7,600 Safety-Kleen Corp 122,550
4
Stock Index Portfolio 220 COMMON STOCK 50
ENVIRONMENTAL SERVICES 201
36,600 Laidlaw Inc 352,275
4
Stock Index Portfolio 220 COMMON STOCK 50
ENVIRONMENTAL SERVICES 201
6,400 Ogden Corp 140,000
4
Stock Index Portfolio 220 COMMON STOCK 50
FORESTRY 110
0.8%
7,300 Willamette Industries Inc 405,150
4
Stock Index Portfolio 220 COMMON STOCK 50
FORESTRY 110
14,200 Louisiana-Pacific Corp 372,750
4
Stock Index Portfolio 220 COMMON STOCK 50
FORESTRY 110
6,800 Longview Fibre Co 115,600
4
Stock Index Portfolio 220 COMMON STOCK 50
FORESTRY 110
27,200 Weyerhaeuser Co *********
4
Stock Index Portfolio 220 COMMON STOCK 50
FORESTRY 110
16,700 International Paper Co *********
4
Stock Index Portfolio 220 COMMON STOCK 50
FORESTRY 110
12,000 Georgia-Pacific Corp *********
4
Stock Index Portfolio 220 COMMON STOCK 50
FORESTRY 110
6,200 Boise Cascade Corp 251,100
4
Stock Index Portfolio 220 COMMON STOCK 50
FORESTRY 110
3,100 Chesapeake Corp 96,488
4
Stock Index Portfolio 220 COMMON STOCK 50
GAS
80 1.1%
3,900 Iowa-Illinois Gas & Electric Co 85,313
4
Stock Index Portfolio 220 COMMON STOCK 50
GAS
80
11,400 Sonat Inc 347,700
4
Stock Index Portfolio 220 COMMON STOCK 50
GAS
80
3,000 Indiana Energy Inc 57,000
4
Stock Index Portfolio 220 COMMON STOCK 50
GAS
80
5,800 Valero Energy Corp 117,450
4
Stock Index Portfolio 220 COMMON STOCK 50
GAS
80
3,400 Atlanta Gas Light Co 118,150
4
Stock Index Portfolio 220 COMMON STOCK 50
GAS
80
4,650 El Paso Natural Gas Co 132,525
4
Stock Index Portfolio 220 COMMON STOCK 50
GAS
80
6,700 Nicor Inc 180,063
4
Stock Index Portfolio 220 COMMON STOCK 50
GAS
80
19,700 Panhandle Eastern Corp 480,188
4
Stock Index Portfolio 220 COMMON STOCK 50
GAS
80
2,700 Eastern Enterprises 80,663
4
Stock Index Portfolio 220 COMMON STOCK 50
GAS
80
5,300 Questar Corp 152,375
4
Stock Index Portfolio 220 COMMON STOCK 50
GAS
80
4,900 National Fuel Gas Co 140,263
4
Stock Index Portfolio 220 COMMON STOCK 50
GAS
80
23,900 Tenneco Inc *********
4
Stock Index Portfolio 220 COMMON STOCK 50
GAS
80
4,800 Seagull Energy Corp 79,200
*
4
Stock Index Portfolio 220 COMMON STOCK 50
GAS
80
33,200 Enron Corp *********
4
Stock Index Portfolio 220 COMMON STOCK 50
GAS
80
13,400 Williams Companies Inc 467,325
4
Stock Index Portfolio 220 COMMON STOCK 50
GAS
80
16,300 NorAm Energy Corp 105,950
4
Stock Index Portfolio 220 COMMON STOCK 50
GAS
80
12,300 Consolidated Natural Gas Co 464,325
4
Stock Index Portfolio 220 COMMON STOCK 50
GAS
80
6,700 Columbia Gas System Inc 212,725
*
4
Stock Index Portfolio 220 COMMON STOCK 50
GAS
80
4,600 Peoples Energy Corp 119,025
4
Stock Index Portfolio 220 COMMON STOCK 50
GAS
80
8,700 MCN Corp 171,825
4
Stock Index Portfolio 220 COMMON STOCK 50
GAS
80
6,300 Brooklyn Union Gas Co 165,375
-
4
Stock Index Portfolio 220 COMMON STOCK 50
GAS
80
10,800 Pacific Enterprises 264,600
4
Stock Index Portfolio 220 COMMON STOCK 50
GAS
80
3,600 Oneok Inc 76,950
4
Stock Index Portfolio 220 COMMON STOCK 50
GAS
80
5,600 Washington Gas Light Co 105,700
4
Stock Index Portfolio 220 COMMON STOCK 50
HIGHWAYS 180
0.1% 3,500 Arnold Industries Inc
61,250
4
Stock Index Portfolio 220 COMMON STOCK 50
HIGHWAYS 180
5,700 Consolidated Freightways Inc 126,113
4
Stock Index Portfolio 220 COMMON STOCK 50
HIGHWAYS 180
5,200 Roadway Services Inc 245,700
4
Stock Index Portfolio 220 COMMON STOCK 50
HIGHWAYS 180
3,700 Yellow Corp 67,063
4
Stock Index Portfolio 220 COMMON STOCK 50
HIGHWAYS 180
10,400 Ryder System Inc 248,300
4
Stock Index Portfolio 220 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
0.5%
6,300 Hospitality Franchise Systems Inc 218,138
*
4
Stock Index Portfolio 220 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
25,800 UST Inc 767,550
4
Stock Index Portfolio 220 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
20,493 Cinergy Corp 537,941
4
Stock Index Portfolio 220 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
10,650 Franklin Resources Inc 473,925
4
Stock Index Portfolio 220 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
31,402 Keycorp 985,238
4
Stock Index Portfolio 220 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
13,200 Paine Webber Group Inc 249,150
4
Stock Index Portfolio 220 COMMON STOCK 50
INDEPENDENT POWER PROD 120
0.0%
6,600 California Energy Company Inc 108,075
*
4
Stock Index Portfolio 220 COMMON STOCK 50
INDUSTRIAL SERVICES 199
4.1%
4,800 Omnicom Group Inc 291,000
4
Stock Index Portfolio 220 COMMON STOCK 50
INDUSTRIAL SERVICES 199
7,400 Sotheby's Holdings Inc 100,825
4
Stock Index Portfolio 220 COMMON STOCK 50
INDUSTRIAL SERVICES 199
7,600 Parametric Technology Corp 378,100
*
4
Stock Index Portfolio 220 COMMON STOCK 50
INDUSTRIAL SERVICES 199
3,800 Standard Register Co 72,200
4
Stock Index Portfolio 220 COMMON STOCK 50
INDUSTRIAL SERVICES 199
56,900 Oracle Systems Corp *********
*
4
Stock Index Portfolio 220 COMMON STOCK 50
INDUSTRIAL SERVICES 199
5,500 Olsten Corp 180,125
4
Stock Index Portfolio 220 COMMON STOCK 50
INDUSTRIAL SERVICES 199
10,300 Interpublic Group of Companies Inc 386,250
4
Stock Index Portfolio 220 COMMON STOCK 50
INDUSTRIAL SERVICES 199
5,950 Paychex Inc 215,688
4
Stock Index Portfolio 220 COMMON STOCK 50
INDUSTRIAL SERVICES 199
5,400 Reynolds & Reynolds Co 159,300
4
Stock Index Portfolio 220 COMMON STOCK 50
INDUSTRIAL SERVICES 199
6,300 Lotus Development Corp 401,625
*
4
Stock Index Portfolio 220 COMMON STOCK 50
INDUSTRIAL SERVICES 199
3,800 Structural Dynamics Research Corp 49,161
*
4
Stock Index Portfolio 220 COMMON STOCK 50
INDUSTRIAL SERVICES 199
9,900 Manpower Inc 252,450
4
Stock Index Portfolio 220 COMMON STOCK 50
INDUSTRIAL SERVICES 199
5,050 Kelly Services Inc 130,038
4
Stock Index Portfolio 220 COMMON STOCK 50
INDUSTRIAL SERVICES 199
3,000 Shared Medical Systems Corp 120,375
4
Stock Index Portfolio 220 COMMON STOCK 50
INDUSTRIAL SERVICES 199
3,000 Wallace Computer Services Inc 115,125
4
Stock Index Portfolio 220 COMMON STOCK 50
INDUSTRIAL SERVICES 199
3,300 Jacobs Engineering Group Inc 72,600
*
4
Stock Index Portfolio 220 COMMON STOCK 50
INDUSTRIAL SERVICES 199
19,900 Pitney Bowes Inc 763,663
4
Stock Index Portfolio 220 COMMON STOCK 50
INDUSTRIAL SERVICES 199
76,700 Microsoft Corp *********
*
4
Stock Index Portfolio 220 COMMON STOCK 50
INDUSTRIAL SERVICES 199
6,400 National Service Industries Inc 184,800
4
Stock Index Portfolio 220 COMMON STOCK 50
INDUSTRIAL SERVICES 199
4,850 Symantec Corp 140,044
*
4
Stock Index Portfolio 220 COMMON STOCK 50
INDUSTRIAL SERVICES 199
2,600 Policy Management Systems Corp 119,600
*
4
Stock Index Portfolio 220 COMMON STOCK 50
INDUSTRIAL SERVICES 199
17,400 Informix Corp 441,525
*
4
Stock Index Portfolio 220 COMMON STOCK 50
INDUSTRIAL SERVICES 199
4,700 Legent Corp 205,625
*
4
Stock Index Portfolio 220 COMMON STOCK 50
INDUSTRIAL SERVICES 199
3,500 Information Resources Inc 49,875
*
4
Stock Index Portfolio 220 COMMON STOCK 50
INDUSTRIAL SERVICES 199
5,700 Altera Corp 246,525
*
4
Stock Index Portfolio 220 COMMON STOCK 50
INDUSTRIAL SERVICES 199
6,400 Electronic Arts Inc 173,600
*
4
Stock Index Portfolio 220 COMMON STOCK 50
INDUSTRIAL SERVICES 199
6,000 Ceridian Corp 221,250
*
4
Stock Index Portfolio 220 COMMON STOCK 50
INDUSTRIAL SERVICES 199
15,800 First Data Corp 898,625
4
Stock Index Portfolio 220 COMMON STOCK 50
INDUSTRIAL SERVICES 199
8,400 First Financial Management Corp 718,200
4
Stock Index Portfolio 220 COMMON STOCK 50
INDUSTRIAL SERVICES 199
6,300 Autodesk Inc 270,900
4
Stock Index Portfolio 220 COMMON STOCK 50
INDUSTRIAL SERVICES 199
5,150 Fiserv Inc 144,844
*
4
Stock Index Portfolio 220 COMMON STOCK 50
INDUSTRIAL SERVICES 199
8,500 Ecolab Inc 208,250
4
Stock Index Portfolio 220 COMMON STOCK 50
INDUSTRIAL SERVICES 199
7,000 Western Atlas Inc 310,625
*
4
Stock Index Portfolio 220 COMMON STOCK 50
INDUSTRIAL SERVICES 199
3,300 BMC Software Inc 254,925
*
4
Stock Index Portfolio 220 COMMON STOCK 50
INDUSTRIAL SERVICES 199
19,000 Automatic Data Processing Inc *********
4
Stock Index Portfolio 220 COMMON STOCK 50
INDUSTRIAL SERVICES 199
10,900 Fluor Corp 566,800
4
Stock Index Portfolio 220 COMMON STOCK 50
INDUSTRIAL SERVICES 199
6,100 Arrow Electronics Inc 303,475
*
4
Stock Index Portfolio 220 COMMON STOCK 50
INDUSTRIAL SERVICES 199
3,700 Applied Bioscience International Inc 18,963
*
4
Stock Index Portfolio 220 COMMON STOCK 50
INDUSTRIAL SERVICES 199
2,200 Ennis Business Forms Inc 27,225
4
Stock Index Portfolio 220 COMMON STOCK 50
INDUSTRIAL SERVICES 199
10,900 Deluxe Corp 361,063
4
Stock Index Portfolio 220 COMMON STOCK 50
INDUSTRIAL SERVICES 199
3,700 Enterra Corp 77,700
*
4
Stock Index Portfolio 220 COMMON STOCK 50
INDUSTRIAL SERVICES 199
5,000 Cadence Design Systems Inc 161,875
*
4
Stock Index Portfolio 220 COMMON STOCK 50
INDUSTRIAL SERVICES 199
4,100 Flightsafety International Inc 199,875
4
Stock Index Portfolio 220 COMMON STOCK 50
INDUSTRIAL SERVICES 199
22,400 Dun & Bradstreet Corp *********
4
Stock Index Portfolio 220 COMMON STOCK 50
INDUSTRIAL SERVICES 199
7,000 E G & G Inc 117,250
4
Stock Index Portfolio 220 COMMON STOCK 50
INDUSTRIAL SERVICES 199
3,600 Borland International Inc 46,350
*
4
Stock Index Portfolio 220 COMMON STOCK 50
INDUSTRIAL SERVICES 199
4,700 Comdisco Inc 142,763
4
Stock Index Portfolio 220 COMMON STOCK 50
INDUSTRIAL SERVICES 199
6,200 Cintas Corp 220,100
4
Stock Index Portfolio 220 COMMON STOCK 50
INDUSTRIAL SERVICES 199
10,050 Equifax Inc 335,419
4
Stock Index Portfolio 220 COMMON STOCK 50
INDUSTRIAL SERVICES 199
21,100 Computer Associates International Inc *********
4
Stock Index Portfolio 220 COMMON STOCK 50
INDUSTRIAL SERVICES 199
7,200 Computer Sciences Corp 409,500
*
4
Stock Index Portfolio 220 COMMON STOCK 50
INDUSTRIAL SERVICES 199
6,000 Compuware Corp 184,500
*
4
Stock Index Portfolio 220 COMMON STOCK 50
INDUSTRIAL SERVICES 199
4,700 Foster Wheeler Corp 165,675
4
Stock Index Portfolio 220 COMMON STOCK 50
INSURANCE 135
3.6% 9,600 Unum Corp
450,000
4
Stock Index Portfolio 220 COMMON STOCK 50
INSURANCE 135
27,000 American General Corp 911,250
4
Stock Index Portfolio 220 COMMON STOCK 50
INSURANCE 135
7,500 Foundation Health Corp 202,500
*
4
Stock Index Portfolio 220 COMMON STOCK 50
INSURANCE 135
3,000 USLife Corp 120,750
4
Stock Index Portfolio 220 COMMON STOCK 50
INSURANCE 135
6,400 Jefferson-Pilot Corp 350,400
4
Stock Index Portfolio 220 COMMON STOCK 50
INSURANCE 135
12,500 Lincoln National Corp 546,875
4
Stock Index Portfolio 220 COMMON STOCK 50
INSURANCE 135
13,900 ITT Corp *********
4
Stock Index Portfolio 220 COMMON STOCK 50
INSURANCE 135
10,800 General RE Corp *********
4
Stock Index Portfolio 220 COMMON STOCK 50
INSURANCE 135
8,300 SAFECO Corp 476,727
4
Stock Index Portfolio 220 COMMON STOCK 50
INSURANCE 135
41,700 American International Group Inc *********
4
Stock Index Portfolio 220 COMMON STOCK 50
INSURANCE 135
4,550 Kemper Corp 212,144
4
Stock Index Portfolio 220 COMMON STOCK 50
INSURANCE 135
13,000 USF&G Corp 211,250
4
Stock Index Portfolio 220 COMMON STOCK 50
INSURANCE 135
6,900 American Financial Group Inc 179,400
4
Stock Index Portfolio 220 COMMON STOCK 50
INSURANCE 135
5,350 Value Health Inc 172,538
*
4
Stock Index Portfolio 220 COMMON STOCK 50
INSURANCE 135
11,100 St Paul Companies Inc 546,675
4
Stock Index Portfolio 220 COMMON STOCK 50
INSURANCE 135
9,600 Marsh & McLennan Companies Inc 778,800
4
Stock Index Portfolio 220 COMMON STOCK 50
INSURANCE 135
13,075 Aflac Inc 572,031
4
Stock Index Portfolio 220 COMMON STOCK 50
INSURANCE 135
11,500 Chubb Capital Corp 921,438
4
Stock Index Portfolio 220 COMMON STOCK 50
INSURANCE 135
2,700 Hartford Steam Boiler Inspection & Ins 119,813
4
Stock Index Portfolio 220 COMMON STOCK 50
INSURANCE 135
9,500 Cigna Corp 737,438
4
Stock Index Portfolio 220 COMMON STOCK 50
INSURANCE 135
42,166 Travelers Group Inc *********
4
Stock Index Portfolio 220 COMMON STOCK 50
INSURANCE 135
14,900 Aetna Life and Casualty Co 936,736
4
Stock Index Portfolio 220 COMMON STOCK 50
INSURANCE 135
4,100 Healthsource Inc 143,500
*
4
Stock Index Portfolio 220 COMMON STOCK 50
INSURANCE 135
9,450 Progressive Corp 362,644
4
Stock Index Portfolio 220 COMMON STOCK 50
INSURANCE 135
14,300 AON Corp 532,675
4
Stock Index Portfolio 220 COMMON STOCK 50
INSURANCE 135
3,000 Transatlantic Holdings Inc 195,000
4
Stock Index Portfolio 220 COMMON STOCK 50
INSURANCE 135
9,150 Transamerica Corp 532,988
4
Stock Index Portfolio 220 COMMON STOCK 50
INSURANCE 135
7,800 Loews Corp 943,800
4
Stock Index Portfolio 220 COMMON STOCK 50
INSURANCE 135
6,000 Provident Life & Accident Insurance Co 139,500
4
Stock Index Portfolio 220 COMMON STOCK 50
INSURANCE 135
12,700 Providian Corp 460,375
4
Stock Index Portfolio 220 COMMON STOCK 50
INSURANCE 135
5,800 Alexander & Alexander Services Inc 138,475
4
Stock Index Portfolio 220 COMMON STOCK 50
INSURANCE 135
9,400 Torchmark Corp 354,850
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
11.0% 11,000 Eastman Chemical Co
654,500
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
15,300 Wm Wrigley Jr Co 709,538
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
2,600 Michael Foods Inc 28,600
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
29,233 Mattel Inc 760,058
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
3,500 Media General Inc 106,750
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
20,700 Masco Corp 558,900
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
17,900 Shaw Industries Inc 304,300
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
49,200 Seagram Company Ltd *********
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
3,600 Meredith Corp 91,350
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
10,700 McCormick & Company Inc 230,050
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
1,500 Washington Post Co 391,500
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
6,600 McGraw-Hill Inc 500,775
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
12,800 Dow Jones & Company Inc 472,000
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
3,300 Miller (Herman) Inc 81,675
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
11,200 Pioneer Hi-Bred International Inc 470,400
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
12,770 New York Times Co 300,095
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
20,900 Newell Co 512,050
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
4,600 Nine West Group Inc 167,900
*
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
8,000 Premark International Inc 415,000
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
2,200 Cross (A T) Co 32,725
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
19,300 CPC International Inc *********
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
111,500 Philip Morris Companies Inc *********
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
5,300 Dean Foods Co 148,400
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
32,400 ConAgra Inc *********
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
104,000 Pepsico Inc *********
]
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
19,100 Colgate-Palmolive Co *********
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
17,100 Coca-Cola Enterprises Inc 374,063
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
167,300 Coca-Cola Co *********
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
2,600 Church & Dwight Inc 53,950
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
32,900 Campbell Soup Co *********
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
17,700 Quaker Oats Co 581,888
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
3,500 Savannah Foods & Industries Inc 38,500
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
12,600 Brunswick Corp 214,200
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
63,300 Sara Lee Corp *********
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
2,400 Brown Group Inc 54,600
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
9,100 Brown-Forman Corp 303,713
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
5,200 Russell Corp 149,500
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
21,200 Rubbermaid Inc 588,300
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
1,800 Dreyer's Grand Ice Cream Inc 65,925
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
9,700 Whirlpool Corp 533,500
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
12,300 Dial Corp 304,425
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
8,600 Burlington Industries Inc 98,900
*
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
10,500 Reebok International Ltd 357,000
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
8,400 VF Corp 451,500
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
13,300 Ralston-Ralston Purina Group 678,300
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
20,100 R R Donnelley & Sons Co 723,600
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
1,000 National Presto Industries Inc 45,375
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
3,900 Smucker (J M) Co 86,288
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
11,600 Hasbro Inc 368,300
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
20,900 General Mills Inc *********
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
6,600 Knight-Ridder Inc 375,375
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
10,000 Fruit of the Loom Inc 211,250
*
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
2,800 Western Publishing Group Inc 31,500
*
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
4,600 Universal Corp 96,600
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
33,800 Anheuser-Busch Companies Inc *********
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
3,900 Lancaster Colony Corp 139,425
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
9,800 American Greetings Corp 287,875
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
4,000 Lance Inc 75,000
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
58,600 Gillette Co *********
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
68,111 Archer-Daniels-Midland Co *********
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
19,000 Tyson Foods Inc 439,375
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
29,000 Kellogg Co *********
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
3,400 Jones Apparel Group Inc 101,575
*
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
1,900 Houghton Mifflin Co 100,225
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
2,100 Gibson Greetings Inc 28,088
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
14,800 The Times Mirror Co 353,350
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
14,700 International Flavors & Fragrances Inc 731,325
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
2,400 International Multifoods Corp 54,000
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
3,400 Universal Foods Corp 110,075
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
2,100 Tiffany & Co 71,400
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
24,900 American Brands Inc 989,775
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
6,200 Topps Company Inc 38,750
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
1,900 Bassett Furniture Industries Inc 53,200
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
6,250 Zenith Electronics Corp 46,094
*
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
6,300 IBP Inc 274,050
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
3,100 Lee Enterprises Inc 118,188
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
4,600 Land's End Inc 74,750
*
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
5,500 Leggett & Platt Inc 242,000
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
4,000 Harland (John H) Co 91,500
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
9,600 Harcourt General Inc 408,000
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
32,100 Heinz (H J) Co *********
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
2,700 Springs Industries Inc 100,575
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
9,000 Unifi Inc 216,000
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
4,000 Hon Industries Inc 106,000
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
21,100 Unilever NV *********
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
11,400 Hershey Foods Corp 629,850
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
9,900 Liz Claiborne Inc 210,375
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
2,700 Banta Corp 89,775
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
9,000 Avon Products Inc 603,000
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
3,700 Alberto-Culver Co 111,925
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
5,200 Flowers Industries Inc 102,700
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
5,100 Adolph Coors Co 83,513
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
6,600 Stride Rite Corp 68,475
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
12.0% 2,450 Pentair Inc
106,575
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
5,300 Trinity Industries Inc 176,225
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
4,100 The Timken Co 189,113
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
4,450 Cincinnati Milacron Inc 120,150
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
9,250 Allegheny Ludlum Corp 182,688
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
2,000 Carlisle Companies Inc 76,500
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
9,750 Parker Hannifin Corp 353,438
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
9,200 Union Camp Corp 532,450
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
7,400 Witco Corp 238,650
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,100 Carpenter Technology Corp 74,938
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
18,100 Union Carbide Corp 604,088
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
27,200 PPG Industries Inc *********
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
3,800 Trinova Corp 133,000
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
7,700 Centocor Inc 110,202
*
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
41,700 Pfizer Inc *********
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
10,000 Perrigo Co 110,620
*
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
12,400 Champion International Corp 646,350
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
29,700 Alcan Aluminium Ltd 898,425
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
8,750 Albemarle Corp 136,719
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
14,700 Air Products & Chemicals Inc 819,525
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
4,000 Albany International Corp 95,500
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
2,650 Precision Castparts Corp 93,081
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
5,000 CBI Industries Inc 125,625
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
3,900 Potlatch Corp 162,825
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
26,400 Caterpillar Inc *********
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
5,300 Chiron Corp 344,500
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
18,200 Praxair Inc 455,000
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
3,100 Calmat Co 64,325
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
12,070 Sonoco Products Co 298,733
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
8,900 Callaway Golf Co 133,500
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
14,550 Bethlehem Steel Corp 236,438
*
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
4,400 Stewart & Stevenson Services Inc 160,050
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
12,000 Stone Container Corp 255,000
*
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
3,700 Betz Laboratories Inc 167,425
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
2,800 Sealed Air Corp 123,200
*
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
7,400 Sterling Chemicals Inc 86,025
*
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
4,900 Armstrong World Industries Inc 245,613
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
20,000 Scott Paper Co 990,000
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,300 Sequa Corp 38,025
*
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
6,800 Bemis Company Inc 176,800
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
11,950 Worthington Industries Inc 244,222
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
4,975 Schulman (A) Inc 143,031
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
7,000 Clorox Co 456,750
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
5,300 Snap-On Inc 205,375
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
2,300 Southdown Inc 43,988
*
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
6,600 Sigma Aldrich Corp 324,225
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
15,042 Bay Networks Inc 622,363
*
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
11,200 Sherwin-Williams Co 399,000
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
4,000 Ball Corp 139,500
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
18,600 Baker Hughes Inc 381,300
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
14,000 Armco Inc 94,500
*
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
3,100 Scherer (R P) International Corp 130,975
*
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
49,000 Schering-Plough Corp *********
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
5,300 Calgon Carbon Corp 64,263
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
5,800 Raychem Corp 222,575
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
4,900 Rexam PLC 219,888
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
23,500 Aluminum Company of America *********
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
3,400 The B F Goodrich Co 182,325
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
22,800 Upjohn Co 863,550
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
8,300 Reynolds Metals Co 429,525
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
5,000 Cabot Corp 263,750
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
5,900 The Stanley Works 223,463
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
10,800 Alza Corp 252,450
*
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
8,900 Rohm & Haas Co 488,388
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
3,000 Verifone Inc 73,500
*
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
10,100 USX-US Steel Group 347,188
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
2,900 Tecumseh Products Co 127,600
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
4,000 Varco International Inc 33,000
*
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
4,800 Tambrands Inc 205,200
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
7,400 Temple-Inland Inc 352,425
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
40,700 American Home Products Corp *********
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
5,550 Varity Corp 244,200
*
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
7,500 RPM Inc (Ohio) 149,063
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
2,100 Brush Wellman Inc 44,888
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
15,300 Pall Corp 340,425
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
2,600 Outboard Marine Corp 51,025
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
3,500 Kennametal Inc 123,375
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,200 Nacco Industries Inc 71,850
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
15,100 Illinois Tool Works Inc 830,500
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
10,100 Mallinckrodt Group Inc 358,550
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
7,500 Dover Corp 545,625
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
3,700 Ferro Corp 98,050
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
10,500 Mylan Laboratories Inc 322,875
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
10,600 Lyondell Petrochemical Co 271,625
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,900 Lukens Inc 61,275
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
9,000 Nalco Chemical Co 327,375
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
19,500 Morton International Inc 570,375
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
8,500 Lubrizol Corp 300,688
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
2,800 First Brands Corp 120,050
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
10,800 James River Corp of Virginia 298,350
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
2,700 First Mississippi Corp 92,138
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
7,400 Mead Corp 439,375
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,100 NCH Corp 63,250
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
11,400 Deere & Co 976,125
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
36,400 Dow Chemical Co ********
*
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
3,850 IMC Global Inc 208,381
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
8,700 Great Lakes Chemical Corp 524,175
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
7,700 Danaher Corp 232,925
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
2,800 Goulds Pumps Inc 60,900
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
17,800 Warner-Lambert Co *********
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
28,200 EMC Corp 683,850
*
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
5,800 Glatfelter (P H) Co 116,725
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
6,400 Inland Steel Industries Inc 195,200
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
15,600 Ethyl Corp 165,750
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
13,900 Ingersoll-Rand Co 531,675
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
20,000 Goodyear Tire & Rubber Co 825,000
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
3,000 Millipore Corp 202,500
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
5,600 Federal Paper Board Company Inc 198,100
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
55,400 Minnesota Mining & Manufacturing Co *********
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
2,500 Duriron Company Inc 56,250
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
73,000 DuPont (E I) De Nemours & Co *********
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
105,400 Abbott Laboratories *********
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
5,100 Georgia Gulf Corp 166,388
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
15,100 Monsanto Co *********
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
13,100 Moore Corporation Ltd 289,838
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
4,700 Hanna (M A) Co 122,200
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
3,200 Dexter Corp 75,600
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
12,600 Engelhard Corp 540,225
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
4,800 FMC Corp 322,800
*
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
21,200 Kimberly-Clark Corp *********
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
5,800 Consolidated Papers Inc 334,225
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
11,500 Nucor Corp 615,250
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
38,600 Lilly (Eli) & Co *********
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
12,400 W R Grace & Co 761,050
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
15,400 Hercules Inc 750,750
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
5,900 Lawter International Inc 70,800
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
15,500 Cooper Industries Inc 612,250
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
3,873 Wausau Paper Mills Co 88,351
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
2,800 Olin Corp 144,200
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
2,600 Oregon Steel Mills Inc 44,525
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
6,300 Owens-Corning Fiberglas Corp 232,313
*
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
2,200 Kaydon Corp 65,450
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
4,400 Wellman Inc 120,450
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
6,000 Jostens Inc 127,500
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
11,000 Cooper Tire & Rubber Co 268,125
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
30,200 Corning Inc 989,050
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
6,400 Crompton & Knowles Corp 90,400
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
11,900 Crown Cork & Seal Company Inc 596,488
*
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
3,300 Harsco Corp 174,075
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
4,700 Loctite Corp 213,850
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
8,900 Westvaco Corp 393,825
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
2,400 Nordson Corp 130,800
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,800 Fuller (H B) Co 66,600
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
3,900 Watts Industries Inc 97,742
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
6,050 Harnischfeger Industries Inc 209,481
4
Stock Index Portfolio 220 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
4,000 Crane Co 145,000
4
Stock Index Portfolio 220 COMMON STOCK 50
MINING 105
0.9% 9,200 Phelps Dodge Corp
542,800
4
Stock Index Portfolio 220 COMMON STOCK 50
MINING 105
1,600 Cleveland-Cliffs Inc 61,600
4
Stock Index Portfolio 220 COMMON STOCK 50
MINING 105
12,200 Cyprus Amax Minerals Co 347,700
4
Stock Index Portfolio 220 COMMON STOCK 50
MINING 105
17,360 Santa Fe Pacific Gold Corp 210,490
4
Stock Index Portfolio 220 COMMON STOCK 50
MINING 105
1,100 Maxxam Inc 39,325
*
4
Stock Index Portfolio 220 COMMON STOCK 50
MINING 105
14,900 Echo Bay Mines Ltd 134,100
4
Stock Index Portfolio 220 COMMON STOCK 50
MINING 105
5,900 Alumax Inc 183,638
*
4
Stock Index Portfolio 220 COMMON STOCK 50
MINING 105
11,356 Newmont Mining Corp 475,533
4
Stock Index Portfolio 220 COMMON STOCK 50
MINING 105
18,200 Homestake Mining Co 300,300
4
Stock Index Portfolio 220 COMMON STOCK 50
MINING 105
4,700 Vulcan Materials Co 256,150
4
Stock Index Portfolio 220 COMMON STOCK 50
MINING 105
46,616 Barrick Gold Corp *********
4
Stock Index Portfolio 220 COMMON STOCK 50
MINING 105
5,600 Asarco Inc 170,800
4
Stock Index Portfolio 220 COMMON STOCK 50
MINING 105
3,900 Mapco Inc 226,200
4
Stock Index Portfolio 220 COMMON STOCK 50
MINING 105
31,500 Placer Dome Inc 822,938
4
Stock Index Portfolio 220 COMMON STOCK 50
MINING 105
10,700 Battle Mountain Gold Co 102,988
4
Stock Index Portfolio 220 COMMON STOCK 50
MINING 105
15,450 Inco Ltd 436,463
4
Stock Index Portfolio 220 COMMON STOCK 50
OIL & GAS 100
8.5% 7,100 McDermott International Inc
171,288
4
Stock Index Portfolio 220 COMMON STOCK 50
OIL & GAS 100
65,500 Amoco Corp *********
4
Stock Index Portfolio 220 COMMON STOCK 50
OIL & GAS 100
7,800 Anadarko Petroleum Corp 336,375
4
Stock Index Portfolio 220 COMMON STOCK 50
OIL & GAS 100
14,100 Sun Company Inc 385,988
4
Stock Index Portfolio 220 COMMON STOCK 50
OIL & GAS 100
4,550 Giddings & Lewis Inc 81,331
4
Stock Index Portfolio 220 COMMON STOCK 50
OIL & GAS 100
19,600 Freeport-McMoran Inc 345,450
4
Stock Index Portfolio 220 COMMON STOCK 50
OIL & GAS 100
12,300 Amerada Hess Corp 601,163
4
Stock Index Portfolio 220 COMMON STOCK 50
OIL & GAS 100
21,200 Atlantic Richfield Co *********
4
Stock Index Portfolio 220 COMMON STOCK 50
OIL & GAS 100
4,450 Lousiana Land & Exploration Co 177,444
4
Stock Index Portfolio 220 COMMON STOCK 50
OIL & GAS 100
34,300 Texaco Inc *********
4
Stock Index Portfolio 220 COMMON STOCK 50
OIL & GAS 100
5,200 Smith International Inc 87,100
*
4
Stock Index Portfolio 220 COMMON STOCK 50
OIL & GAS 100
32,200 Unocal Corp 889,525
4
Stock Index Portfolio 220 COMMON STOCK 50
OIL & GAS 100
164,000 Exxon Corp *********
4
Stock Index Portfolio 220 COMMON STOCK 50
OIL & GAS 100
39,200 USX-Marathon Group 774,200
4
Stock Index Portfolio 220 COMMON STOCK 50
OIL & GAS 100
9,150 Apache Corp 250,481
4
Stock Index Portfolio 220 COMMON STOCK 50
OIL & GAS 100
8,200 Ashland Inc 288,025
4
Stock Index Portfolio 220 COMMON STOCK 50
OIL & GAS 100
52,200 Mobil Corp *********
4
Stock Index Portfolio 220 COMMON STOCK 50
OIL & GAS 100
8,900 Enserch Corp 152,413
4
Stock Index Portfolio 220 COMMON STOCK 50
OIL & GAS 100
15,100 Halliburton Co 539,825
4
Stock Index Portfolio 220 COMMON STOCK 50
OIL & GAS 100
86,100 Chevron Corp *********
4
Stock Index Portfolio 220 COMMON STOCK 50
OIL & GAS 100
16,700 Burlington Resources Inc 615,813
4
Stock Index Portfolio 220 COMMON STOCK 50
OIL & GAS 100
13,000 Ranger Oil Ltd 81,250
4
Stock Index Portfolio 220 COMMON STOCK 50
OIL & GAS 100
3,700 BJ Services Co 84,175
*
4
Stock Index Portfolio 220 COMMON STOCK 50
OIL & GAS 100
3,800 Diamond Shamrock Inc 97,850
4
Stock Index Portfolio 220 COMMON STOCK 50
OIL & GAS 100
4,150 Quaker State Corp 62,250
4
Stock Index Portfolio 220 COMMON STOCK 50
OIL & GAS 100
6,600 Noble Affiliates Inc 168,300
4
Stock Index Portfolio 220 COMMON STOCK 50
OIL & GAS 100
41,900 Occidental Petroleum Corp 958,463
4
Stock Index Portfolio 220 COMMON STOCK 50
OIL & GAS 100
34,600 Phillips Petroleum Co *********
4
Stock Index Portfolio 220 COMMON STOCK 50
OIL & GAS 100
5,900 Murphy Oil Corp 241,900
4
Stock Index Portfolio 220 COMMON STOCK 50
OIL & GAS 100
3,300 Helmerich & Payne Inc 97,350
4
Stock Index Portfolio 220 COMMON STOCK 50
OIL & GAS 100
6,100 Pennzoil Co 287,463
4
Stock Index Portfolio 220 COMMON STOCK 50
OIL & GAS 100
13,600 Oryx Energy Co 187,000
*
4
Stock Index Portfolio 220 COMMON STOCK 50
OIL & GAS 100
7,400 Parker Drilling Co 38,850
*
4
Stock Index Portfolio 220 COMMON STOCK 50
OIL & GAS 100
4,600 Parker & Parsley Petroleum Co 90,275
4
Stock Index Portfolio 220 COMMON STOCK 50
OIL & GAS 100
13,800 Coastal Corp 419,175
4
Stock Index Portfolio 220 COMMON STOCK 50
OIL & GAS 100
11,050 Nabors Industries Inc 91,163
*
4
Stock Index Portfolio 220 COMMON STOCK 50
OIL & GAS 100
6,800 Kerr-McGee Corp 364,650
4
Stock Index Portfolio 220 COMMON STOCK 50
OIL & GAS 100
21,800 Global Marine Inc 125,350
*
4
Stock Index Portfolio 220 COMMON STOCK 50
OIL & GAS 100
70,800 Royal Dutch Petroleum Co *********
4
Stock Index Portfolio 220 COMMON STOCK 50
OIL & GAS 100
32,000 Schlumberger Ltd *********
4
Stock Index Portfolio 220 COMMON STOCK 50
OIL & GAS 100
11,900 Santa Fe Energy Resources Inc 113,050
*
4
Stock Index Portfolio 220 COMMON STOCK 50
OIL & GAS 100
4,900 Tosco Corp 156,188
4
Stock Index Portfolio 220 COMMON STOCK 50
OIL & GAS 100
24,050 Dresser Industries Inc 535,113
4
Stock Index Portfolio 220 COMMON STOCK 50
OIL & GAS 100
11,100 Rowan Companies Inc 90,188
*
4
Stock Index Portfolio 220 COMMON STOCK 50
OTHER ASSET-BACKED 70
0.1%
9,000 Green Tree Financial Corp 399,375
4
Stock Index Portfolio 220 COMMON STOCK 50
OTHER TRANS. SERVICES 165
0.2%
2,200 PHH Corp 97,900
4
Stock Index Portfolio 220 COMMON STOCK 50
OTHER TRANS. SERVICES 165
7,000 Tidewater Inc 175,875
4
Stock Index Portfolio 220 COMMON STOCK 50
OTHER TRANS. SERVICES 165
6,000 Alexander & Baldwin Inc 133,500
4
Stock Index Portfolio 220 COMMON STOCK 50
OTHER TRANS. SERVICES 165
5,100 J B Hunt Transport Services Inc 93,713
4
Stock Index Portfolio 220 COMMON STOCK 50
OTHER TRANS. SERVICES 165
7,400 Federal Express Corp 449,550
*
4
Stock Index Portfolio 220 COMMON STOCK 50
OTHER TRANS. SERVICES 165
2,600 General American Transportation Corp 122,525
4
Stock Index Portfolio 220 COMMON STOCK 50
OTHER TRANS. SERVICES 165
4,800 Overseas Shipholding Group Inc 99,600
4
Stock Index Portfolio 220 COMMON STOCK 50
RAILROADS 175
1.0%
20,100 Santa Fe Pacific Corp 512,550
4
Stock Index Portfolio 220 COMMON STOCK 50
RAILROADS 175
17,400 Norfolk Southern Corp *********
4
Stock Index Portfolio 220 COMMON STOCK 50
RAILROADS 175
5,600 Illinois Central Corp 193,200
4
Stock Index Portfolio 220 COMMON STOCK 50
RAILROADS 175
5,700 Kansas City Southern Industries Inc 212,325
4
Stock Index Portfolio 220 COMMON STOCK 50
RAILROADS 175
13,900 CSX Corp *********
4
Stock Index Portfolio 220 COMMON STOCK 50
RAILROADS 175
11,800 Burlington Northern Railroad Co 747,825
4
Stock Index Portfolio 220 COMMON STOCK 50
RAILROADS 175
27,100 Union Pacific Corp *********
4
Stock Index Portfolio 220 COMMON STOCK 50
RAILROADS 175
10,300 Conrail Inc 572,938
4
Stock Index Portfolio 220 COMMON STOCK 50
RETAIL TRADE 207
6.3% 19,000 Gap Inc
662,625
4
Stock Index Portfolio 220 COMMON STOCK 50
RETAIL TRADE 207
6,425 Heilig-Meyers Co 163,838
4
Stock Index Portfolio 220 COMMON STOCK 50
RETAIL TRADE 207
4,300 Gencorp Inc 46,225
4
Stock Index Portfolio 220 COMMON STOCK 50
RETAIL TRADE 207
3,100 International Dairy Queen Inc 60,450
*
4
Stock Index Portfolio 220 COMMON STOCK 50
RETAIL TRADE 207
12,000 Home Shopping Network Inc 102,000
*
4
Stock Index Portfolio 220 COMMON STOCK 50
RETAIL TRADE 207
9,600 TJX Companies Inc 127,200
4
Stock Index Portfolio 220 COMMON STOCK 50
RETAIL TRADE 207
2,800 Hancock Fabrics Inc 25,550
4
Stock Index Portfolio 220 COMMON STOCK 50
RETAIL TRADE 207
16,250 Genuine Parts Co 615,469
4
Stock Index Portfolio 220 COMMON STOCK 50
RETAIL TRADE 207
36,600 Toys R Us Inc *********
*
4
Stock Index Portfolio 220 COMMON STOCK 50
RETAIL TRADE 207
13,500 Wendy's International Inc 241,313
4
Stock Index Portfolio 220 COMMON STOCK 50
RETAIL TRADE 207
33,500 Albertson's Inc 996,625
4
Stock Index Portfolio 220 COMMON STOCK 50
RETAIL TRADE 207
7,800 Giant Food Inc 221,325
4
Stock Index Portfolio 220 COMMON STOCK 50
RETAIL TRADE 207
8,100 The Pep Boys - Manny Moe & Jack 216,675
4
Stock Index Portfolio 220 COMMON STOCK 50
RETAIL TRADE 207
5,600 Hannaford Brothers Co 159,600
4
Stock Index Portfolio 220 COMMON STOCK 50
RETAIL TRADE 207
5,000 Great Atlantic & Pacific Tea Company I 131,875
4
Stock Index Portfolio 220 COMMON STOCK 50
RETAIL TRADE 207
59,900 Home Depot Inc *********
4
Stock Index Portfolio 220 COMMON STOCK 50
RETAIL TRADE 207
4,100 Intelligent Electronics Inc 55,863
4
Stock Index Portfolio 220 COMMON STOCK 50
RETAIL TRADE 207
13,200 Service Merchandise Company Inc 69,300
*
4
Stock Index Portfolio 220 COMMON STOCK 50
RETAIL TRADE 207
19,600 American Stores Co 551,250
4
Stock Index Portfolio 220 COMMON STOCK 50
RETAIL TRADE 207
4,100 Buffets Inc 56,375
*
4
Stock Index Portfolio 220 COMMON STOCK 50
RETAIL TRADE 207
8,766 Dollar General Corp 277,225
4
Stock Index Portfolio 220 COMMON STOCK 50
RETAIL TRADE 207
3,500 Donaldson Company Inc 91,438
4
Stock Index Portfolio 220 COMMON STOCK 50
RETAIL TRADE 207
8,800 Revco D S Inc 211,200
*
4
Stock Index Portfolio 220 COMMON STOCK 50
RETAIL TRADE 207
11,100 Rite Aid Corp 284,438
4
Stock Index Portfolio 220 COMMON STOCK 50
RETAIL TRADE 207
4,550 Morrison Restaurants Inc 109,200
4
Stock Index Portfolio 220 COMMON STOCK 50
RETAIL TRADE 207
9,500 Dayton Hudson Corp 681,625
4
Stock Index Portfolio 220 COMMON STOCK 50
RETAIL TRADE 207
303,300 Wal-Mart Stores Inc *********
4
Stock Index Portfolio 220 COMMON STOCK 50
RETAIL TRADE 207
3,000 Ruddick Corp 62,250
4
Stock Index Portfolio 220 COMMON STOCK 50
RETAIL TRADE 207
16,200 Walgreen Co 812,025
4
Stock Index Portfolio 220 COMMON STOCK 50
RETAIL TRADE 207
7,100 Ryan's Family Steak Houses Inc 55,913
*
4
Stock Index Portfolio 220 COMMON STOCK 50
RETAIL TRADE 207
14,900 Dillard Department Stores Inc 437,688
4
Stock Index Portfolio 220 COMMON STOCK 50
RETAIL TRADE 207
20,900 Darden Restaurants Inc 227,288
*
4
Stock Index Portfolio 220 COMMON STOCK 50
RETAIL TRADE 207
2,650 Sbarro Inc 61,613
4
Stock Index Portfolio 220 COMMON STOCK 50
RETAIL TRADE 207
19,725 Office Depot Inc 554,766
*
4
Stock Index Portfolio 220 COMMON STOCK 50
RETAIL TRADE 207
2,700 Claire's Stores Inc 48,938
4
Stock Index Portfolio 220 COMMON STOCK 50
RETAIL TRADE 207
12,700 Circuit City Stores Inc 401,638
4
Stock Index Portfolio 220 COMMON STOCK 50
RETAIL TRADE 207
5,700 Outback Steakhouse Inc 164,588
*
4
Stock Index Portfolio 220 COMMON STOCK 50
RETAIL TRADE 207
30,700 Penney (J C) & Company Inc *********
4
Stock Index Portfolio 220 COMMON STOCK 50
RETAIL TRADE 207
10,000 Winn-Dixie Stores Inc 577,500
4
Stock Index Portfolio 220 COMMON STOCK 50
RETAIL TRADE 207
4,400 Waban Inc 65,450
*
4
Stock Index Portfolio 220 COMMON STOCK 50
RETAIL TRADE 207
13,600 Charming Shoppes Inc 71,400
4
Stock Index Portfolio 220 COMMON STOCK 50
RETAIL TRADE 207
7,900 Cracker Barrel Old Country Store Inc 162,938
'
4
Stock Index Portfolio 220 COMMON STOCK 50
RETAIL TRADE 207
10,900 Nordstrom Inc 450,988
4
Stock Index Portfolio 220 COMMON STOCK 50
RETAIL TRADE 207
5,700 Vons Companies Inc 114,713
*
4
Stock Index Portfolio 220 COMMON STOCK 50
RETAIL TRADE 207
10,300 Bruno's Inc 119,738
4
Stock Index Portfolio 220 COMMON STOCK 50
RETAIL TRADE 207
9,500 Brinker International Inc 163,875
*
4
Stock Index Portfolio 220 COMMON STOCK 50
RETAIL TRADE 207
3,600 Duty Free International Inc 31,500
4
Stock Index Portfolio 220 COMMON STOCK 50
RETAIL TRADE 207
9,700 Tandy Corp 503,188
4
Stock Index Portfolio 220 COMMON STOCK 50
RETAIL TRADE 207
2,700 Longs Drug Stores Corp 101,250
4
Stock Index Portfolio 220 COMMON STOCK 50
RETAIL TRADE 207
3,100 Luby's Cafeterias Inc 62,388
4
Stock Index Portfolio 220 COMMON STOCK 50
RETAIL TRADE 207
1,700 SPX Corp 19,338
4
Stock Index Portfolio 220 COMMON STOCK 50
RETAIL TRADE 207
21,100 Lowe's Companies Inc 630,363
4
Stock Index Portfolio 220 COMMON STOCK 50
RETAIL TRADE 207
8,287 Staples Inc 239,287
*
4
Stock Index Portfolio 220 COMMON STOCK 50
RETAIL TRADE 207
47,200 Limited Inc *********
4
Stock Index Portfolio 220 COMMON STOCK 50
RETAIL TRADE 207
3,400 MacFrugal's Bargains-Close-Outs Inc 59,500
*
4
Stock Index Portfolio 220 COMMON STOCK 50
RETAIL TRADE 207
14,750 Kroger Co 396,406
*
4
Stock Index Portfolio 220 COMMON STOCK 50
RETAIL TRADE 207
4,900 Kohls Corp 223,563
*
4
Stock Index Portfolio 220 COMMON STOCK 50
RETAIL TRADE 207
3,100 AnnTaylor Stores Corp 72,075
*
4
Stock Index Portfolio 220 COMMON STOCK 50
RETAIL TRADE 207
60,300 Kmart Corp 881,888
4
Stock Index Portfolio 220 COMMON STOCK 50
RETAIL TRADE 207
6,000 Fingerhut Companies Inc 93,750
4
Stock Index Portfolio 220 COMMON STOCK 50
RETAIL TRADE 207
3,700 Sizzler International Inc 23,588
4
Stock Index Portfolio 220 COMMON STOCK 50
RETAIL TRADE 207
7,900 Echlin Inc 274,525
4
Stock Index Portfolio 220 COMMON STOCK 50
RETAIL TRADE 207
51,300 Sears Roebuck & Co *********
4
Stock Index Portfolio 220 COMMON STOCK 50
RETAIL TRADE 207
4,900 Mercantile Stores Company Inc 227,850
4
Stock Index Portfolio 220 COMMON STOCK 50
RETAIL TRADE 207
2,900 Edison Brothers Stores Inc 34,800
4
Stock Index Portfolio 220 COMMON STOCK 50
RETAIL TRADE 207
5,600 Bob Evans Farms Inc 114,100
4
Stock Index Portfolio 220 COMMON STOCK 50
RETAIL TRADE 207
13,800 Melville Corp 472,650
4
Stock Index Portfolio 220 COMMON STOCK 50
RETAIL TRADE 207
91,600 McDonald's Corp *********
4
Stock Index Portfolio 220 COMMON STOCK 50
RETAIL TRADE 207
7,500 Family Dollar Stores Inc 110,625
4
Stock Index Portfolio 220 COMMON STOCK 50
RETAIL TRADE 207
5,600 Best Buy Inc 149,100
*
4
Stock Index Portfolio 220 COMMON STOCK 50
RETAIL TRADE 207
32,800 May Department Stores Co *********
4
Stock Index Portfolio 220 COMMON STOCK 50
RETAIL TRADE 207
17,500 Woolworth Corp 264,688
4
Stock Index Portfolio 220 COMMON STOCK 50
RETAIL TRADE 207
5,500 Shoney's Inc 64,625
*
4
Stock Index Portfolio 220 COMMON STOCK 50
RETAIL TRADE 207
6,600 CML Group Inc 51,975
4
Stock Index Portfolio 220 COMMON STOCK 50
SECURITIES & COMMODITIE 145
0.8%
8,150 A G Edwards Inc 183,375
4
Stock Index Portfolio 220 COMMON STOCK 50
SECURITIES & COMMODITIE 145
14,000 Salomon Inc 561,750
4
Stock Index Portfolio 220 COMMON STOCK 50
SECURITIES & COMMODITIE 145
22,303 Dean Witter Discover & Co *********
4
Stock Index Portfolio 220 COMMON STOCK 50
SECURITIES & COMMODITIE 145
9,950 Morgan Stanley Group Inc 805,950
4
Stock Index Portfolio 220 COMMON STOCK 50
SECURITIES & COMMODITIE 145
11,275 Schwab (Charles) & Company Inc 489,053
4
Stock Index Portfolio 220 COMMON STOCK 50
SECURITIES & COMMODITIE 145
15,561 The Bear Stearns Companies Inc 332,616
4
Stock Index Portfolio 220 COMMON STOCK 50
SECURITIES & COMMODITIE 145
23,200 Merrill Lynch & Company Inc *********
4
Stock Index Portfolio 220 COMMON STOCK 50
TELEPHONE
85 4.5%
89,700 MCI Communications Corp *********
4
Stock Index Portfolio 220 COMMON STOCK 50
TELEPHONE
85
128,100 GTE Corp *********
4
Stock Index Portfolio 220 COMMON STOCK 50
TELEPHONE
85
10,800 Frontier Corp 259,200
4
Stock Index Portfolio 220 COMMON STOCK 50
TELEPHONE
85
7,700 Century Telephone Enterprises Inc 218,488
4
Stock Index Portfolio 220 COMMON STOCK 50
TELEPHONE
85
56,200 Nynex Corp *********
4
Stock Index Portfolio 220 COMMON STOCK 50
TELEPHONE
85
65,500 Bellsouth Corp *********
4
Stock Index Portfolio 220 COMMON STOCK 50
TELEPHONE
85
57,600 Bell Atlantic Corp *********
4
Stock Index Portfolio 220 COMMON STOCK 50
TELEPHONE
85
73,000 Ameritech Corp *********
4
Stock Index Portfolio 220 COMMON STOCK 50
TELEPHONE
85
24,900 Alltel Corp 631,838
4
Stock Index Portfolio 220 COMMON STOCK 50
TELEPHONE
85
8,100 ADC Telecommunications Inc 289,575
*
4
Stock Index Portfolio 220 COMMON STOCK 50
TELEPHONE
85
62,100 U S West Inc *********
4
Stock Index Portfolio 220 COMMON STOCK 50
TELEPHONE
85
4,300 Lincoln Telecommunications Co 67,725
4
Stock Index Portfolio 220 COMMON STOCK 50
TELEPHONE
85
80,200 SBC Communications Inc *********
4
Stock Index Portfolio 220 COMMON STOCK 50
TELEPHONE
85
8,600 Southern New England Telecommunication 303,150
4
Stock Index Portfolio 220 COMMON STOCK 50
TRANSPORTATION EQUIPMEN 170
3.8%
28,600 Rockwell International Corp *********
4
Stock Index Portfolio 220 COMMON STOCK 50
TRANSPORTATION EQUIPMEN 170
8,300 General Dynamics Corp 368,313
4
Stock Index Portfolio 220 COMMON STOCK 50
TRANSPORTATION EQUIPMEN 170
4,200 Sundstrand Corp 250,950
4
Stock Index Portfolio 220 COMMON STOCK 50
TRANSPORTATION EQUIPMEN 170
135,600 Ford Motor Co *********
4
Stock Index Portfolio 220 COMMON STOCK 50
TRANSPORTATION EQUIPMEN 170
11,200 Textron Inc 651,000
4
Stock Index Portfolio 220 COMMON STOCK 50
TRANSPORTATION EQUIPMEN 170
6,100 Fleetwood Enterprises Inc 120,475
4
Stock Index Portfolio 220 COMMON STOCK 50
TRANSPORTATION EQUIPMEN 170
4,600 Federal-Mogul Corp 83,950
4
Stock Index Portfolio 220 COMMON STOCK 50
TRANSPORTATION EQUIPMEN 170
45,100 The Boeing Co *********
4
Stock Index Portfolio 220 COMMON STOCK 50
TRANSPORTATION EQUIPMEN 170
10,300 Eaton Corp 598,688
4
Stock Index Portfolio 220 COMMON STOCK 50
TRANSPORTATION EQUIPMEN 170
3,900 Superior Industries International Inc 121,388
4
Stock Index Portfolio 220 COMMON STOCK 50
TRANSPORTATION EQUIPMEN 170
13,400 Dana Corp 383,575
4
Stock Index Portfolio 220 COMMON STOCK 50
TRANSPORTATION EQUIPMEN 170
5,400 Cummins Engine Company Inc 235,575
4
Stock Index Portfolio 220 COMMON STOCK 50
TRANSPORTATION EQUIPMEN 170
48,700 Chrysler Corp *********
4
Stock Index Portfolio 220 COMMON STOCK 50
TRANSPORTATION EQUIPMEN 170
2,900 Arvin Industries Inc 64,888
4
Stock Index Portfolio 220 COMMON STOCK 50
TRANSPORTATION EQUIPMEN 170
98,700 General Motors Corp *********
4
Stock Index Portfolio 220 COMMON STOCK 50
TRANSPORTATION EQUIPMEN 170
9,900 Harley-Davidson Inc 241,313
4
Stock Index Portfolio 220 COMMON STOCK 50
TRANSPORTATION EQUIPMEN 170
2,300 Teleflex Inc 98,900
4
Stock Index Portfolio 220 COMMON STOCK 50
TRANSPORTATION EQUIPMEN 170
37,500 Allied-Signal Inc *********
4
Stock Index Portfolio 220 COMMON STOCK 50
TRANSPORTATION EQUIPMEN 170
2,400 Thiokol Corp 72,600
4
Stock Index Portfolio 220 COMMON STOCK 50
TRANSPORTATION EQUIPMEN 170
5,120 Paccar Inc 239,360
4
Stock Index Portfolio 220 COMMON STOCK 50
TRANSPORTATION EQUIPMEN 170
2,400 Rohr Industries Inc 34,500
*
4
Stock Index Portfolio 220 COMMON STOCK 50
TRANSPORTATION EQUIPMEN 170
6,500 Northrop Grumman Corp 338,813
4
Stock Index Portfolio 220 COMMON STOCK 50
TRANSPORTATION EQUIPMEN 170
9,890 Navistar International Corp 149,586
*
4
Stock Index Portfolio 220 COMMON STOCK 50
TRANSPORTATION EQUIPMEN 170
3,900 Modine Manufacturing Co 143,325
4
Stock Index Portfolio 220 COMMON STOCK 50
TRANSPORTATION EQUIPMEN 170
1,500 Skyline Corp 27,188
4
Stock Index Portfolio 220 COMMON STOCK 50
TRANSPORTATION EQUIPMEN 170
15,100 McDonnell Douglas Corp *********
4
Stock Index Portfolio 220 COMMON STOCK 50
TRANSPORTATION EQUIPMEN 170
8,600 TRW Inc 686,925
4
Stock Index Portfolio 220 COMMON STOCK 50
WATER 185
0.0%
3,600 American President Companies Ltd 85,500
4
Stock Index Portfolio 220 COMMON STOCK 50
WHOLESALE TRADE - INDL 197
0.1%
5,800 McKesson Corp 271,150
4
Stock Index Portfolio 220 COMMON STOCK 50
WHOLESALE TRADE - INDL 197
7,250 Alco Standard Corp 579,094
4
Stock Index Portfolio 220 COMMON STOCK 50
WHOLESALE TRADE - INDL 197
1,600 Lawson Products Inc 42,400
4
Stock Index Portfolio 220 COMMON STOCK 50
WHOLESALE TRADE -CONSUM 209
1.7%
7,000 Avery Dennison Corp 280,000
4
Stock Index Portfolio 220 COMMON STOCK 50
WHOLESALE TRADE -CONSUM 205
7,700 Bausch & Lomb Inc 319,550
4
Stock Index Portfolio 220 COMMON STOCK 50
WHOLESALE TRADE -CONSUM 209
4,900 Fleming Companies Inc 129,850
4
Stock Index Portfolio 220 COMMON STOCK 50
WHOLESALE TRADE -CONSUM 209
24,100 Sysco Corp 710,950
4
Stock Index Portfolio 220 COMMON STOCK 50
WHOLESALE TRADE -CONSUM 209
5,240 Bergen Brunswig Corp 119,865
4
Stock Index Portfolio 220 COMMON STOCK 50
WHOLESALE TRADE -CONSUM 209
90,700 Procter & Gamble Co *********
4
Stock Index Portfolio 220 COMMON STOCK 50
WHOLESALE TRADE -CONSUM 209
25,671 Price/Costco Inc 417,154
*
4
Stock Index Portfolio 220 COMMON STOCK 50
WHOLESALE TRADE -CONSUM 209
9,500 Nike Inc 798,000
4
Stock Index Portfolio 220 COMMON STOCK 50
WHOLESALE TRADE -CONSUM 209
4,400 Handleman Co 42,350
4
Stock Index Portfolio 220 COMMON STOCK 50
WHOLESALE TRADE -CONSUM 209
2,500 Stanhome Inc 82,500
4
Stock Index Portfolio 220 COMMON STOCK 50
WHOLESALE TRADE -CONSUM 209
3,900 Rayonier Inc 138,450
4
Stock Index Portfolio 220 COMMON STOCK 50
WHOLESALE TRADE -CONSUM 209
9,200 Supervalu Inc 267,950
4
Stock Index Portfolio 220 COMMON STOCK 50
WHOLESALE TRADE -CONSUM 209
5,487 Cardinal Health Inc 259,261
********************
4
Stock Index Portfolio 220 SHORT-TERM INVESTMENT 10
1.2%CREDIT INSTITUTIONS 209 0.2%
1,300,000 Cargill Financial Services *********
4
Stock Index Portfolio 220 SHORT-TERM INVESTMENT 10
ELECTRIC 75
0.3%
2,000,000 Duke Power Co *********
4
Stock Index Portfolio 220 SHORT-TERM INVESTMENT 10
FOREIGN BANKS 130
0.6%
3,846,000 Canadian Imperial Bank of Commerce *********7,144,306
7,144,306 ********************
4
Total Return Portfolio 250 BONDS 20
39.9%CREDIT INSTITUTIONS 125 4.0%
1,000,000 Associates Corp of North America *********
August 1, 1998Senior Notes 8.800% 5
Total Return Portfolio 250 BONDS 20
CREDIT INSTITUTIONS 125
825,000 Fleet Financial Group 848,768
September 1, 1Notes 7.250% 5
Total Return Portfolio 250 BONDS 20
U.S. GOVERNMENTS
5 35.9%
1,600,000 United States of America *********
November 15, 1Treasury Notes 7.875% 5
Total Return Portfolio 250 BONDS 20
U.S. GOVERNMENTS
5
3,625,000 United States of America *********
February 15, 1Treasury Notes 8.125% 5
Total Return Portfolio 250 BONDS 20
U.S. GOVERNMENTS
5
4,700,000 United States of America *********
August 15, 201Treasury Notes 8.125% 5
Total Return Portfolio 250 BONDS 20
U.S. GOVERNMENTS
5
4,000,000 United States of America *********
August 15, 200Treasury Notes 7.250% 5
Total Return Portfolio 250 BONDS 20
U.S. GOVERNMENTS
5
2,050,000 United States of America *********
April 30, 2000Notes 6.750% 5
Total Return Portfolio 250 BONDS 20
WHOLESALE TRADE - INDL 197
0.0%
1,582 Surgical Laser Technologies Inc 0
******************** July
30, 1999 Convertible Subordinat 8.000% 5
Total Return Portfolio 250 COMMON STOCK 50
55.6%AIR 160 1.5%
9,600 Delta Air Lines Inc 708,000
5
Total Return Portfolio 250 COMMON STOCK 50
COMMUNICATIONS 190
2.5%
11,200 Telephone & Data Systems Inc 407,400
5
Total Return Portfolio 250 COMMON STOCK 50
COMMUNICATIONS 190
7,000 Multimedia Inc 271,250
*
5
Total Return Portfolio 250 COMMON STOCK 50
COMMUNICATIONS 190
21,400 Vanguard Cellular Systems Inc 513,600
*
5
Total Return Portfolio 250 COMMON STOCK 50
CONSUMER SERVICES 211
5.1%
23,000 Service Corp International 727,375
5
Total Return Portfolio 250 COMMON STOCK 50
CONSUMER SERVICES 211
6,300 American Medical Response Inc 176,400
*
5
Total Return Portfolio 250 COMMON STOCK 50
CONSUMER SERVICES 211
9,600 Genesis Health Ventures Inc 284,400
*
5
Total Return Portfolio 250 COMMON STOCK 50
CONSUMER SERVICES 211
14,000 St Jude Medical Inc 701,750
*
5
Total Return Portfolio 250 COMMON STOCK 50
CONSUMER SERVICES 211
19,100 Manor Care Inc 556,288
5
Total Return Portfolio 250 COMMON STOCK 50
CREDIT INSTITUTIONS 125
6.1%
18,200 First Bank System Inc 746,200
5
Total Return Portfolio 250 COMMON STOCK 50
CREDIT INSTITUTIONS 125
22,400 American Express Co 786,796
5
Total Return Portfolio 250 COMMON STOCK 50
CREDIT INSTITUTIONS 125
17,300 Fleet/Norstar Financial Group Inc 642,263
5
Total Return Portfolio 250 COMMON STOCK 50
CREDIT INSTITUTIONS 125
22,300 Wachovia Corp 797,225
5
Total Return Portfolio 250 COMMON STOCK 50
ELECTRIC 75
1.2%
21,700 Central & South West Corp 569,625
5
Total Return Portfolio 250 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
5.1%
9,100 Kemet Corp 477,750
*
5
Total Return Portfolio 250 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
10,200 Motorola Inc 684,675
5
Total Return Portfolio 250 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
12,200 Intel Corp 772,406
5
Total Return Portfolio 250 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
11,000 Avnet Inc 532,125
5
Total Return Portfolio 250 COMMON STOCK 50
ENVIRONMENTAL SERVICES 201
1.2%
16,600 Browning-Ferris Industries Inc 599,675
5
Total Return Portfolio 250 COMMON STOCK 50
FORESTRY 110
1.5%
8,500 Georgia-Pacific Corp 737,375
5
Total Return Portfolio 250 COMMON STOCK 50
INDUSTRIAL SERVICES 199
2.8%
7,600 Microsoft Corp 686,850
*
5
Total Return Portfolio 250 COMMON STOCK 50
INDUSTRIAL SERVICES 199
3,300 Compuware Corp 101,475
*
5
Total Return Portfolio 250 COMMON STOCK 50
INDUSTRIAL SERVICES 199
4,000 Synopsys Inc 250,500
*
5
Total Return Portfolio 250 COMMON STOCK 50
INDUSTRIAL SERVICES 199
8,300 Shared Medical Systems Corp 333,038
5
Total Return Portfolio 250 COMMON STOCK 50
INSURANCE 135
3.4%
6,800 American International Group Inc 775,200
5
Total Return Portfolio 250 COMMON STOCK 50
INSURANCE 135
7,200 ITT Corp 846,000
5
Total Return Portfolio 250 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
2.8%
12,300 Coca-Cola Co 784,125
5
Total Return Portfolio 250 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
15,400 Nine West Group Inc 562,100
*
5
Total Return Portfolio 250 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
5.7%
7,700 United States Filter Co 146,300
*
5
Total Return Portfolio 250 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
8,500 Dow Chemical Co 610,938
5
Total Return Portfolio 250 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
9,200 PPG Industries Inc 395,600
5
Total Return Portfolio 250 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
9,000 Pfizer Inc 831,375
5
Total Return Portfolio 250 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
12,100 Caterpillar Inc 777,425
5
Total Return Portfolio 250 COMMON STOCK 50
MINING 105
3.4%
8,000 Potash Corporation of Saskatchewan Inc 447,000
5
Total Return Portfolio 250 COMMON STOCK 50
MINING 105
24,000 Barrick Gold Corp 606,000
5
Total Return Portfolio 250 COMMON STOCK 50
MINING 105
10,200 Phelps Dodge Corp 601,800
5
Total Return Portfolio 250 COMMON STOCK 50
OIL & GAS 100
7.0%
8,500 Texaco Inc 557,813
5
Total Return Portfolio 250 COMMON STOCK 50
OIL & GAS 100
19,800 Coastal Corp 601,425
5
Total Return Portfolio 250 COMMON STOCK 50
OIL & GAS 100
9,100 Amoco Corp 606,288
5
Total Return Portfolio 250 COMMON STOCK 50
OIL & GAS 100
11,200 Apache Corp 306,600
5
Total Return Portfolio 250 COMMON STOCK 50
OIL & GAS 100
33,400 Nabors Industries Inc 275,550
*
5
Total Return Portfolio 250 COMMON STOCK 50
OIL & GAS 100
10,000 Schlumberger Ltd 621,250
5
Total Return Portfolio 250 COMMON STOCK 50
OIL & GAS 100
6,100 Devon Energy Corp 131,150
5
Total Return Portfolio 250 COMMON STOCK 50
OIL & GAS 100
22,900 Weatherford International Inc 289,113
*
5
Total Return Portfolio 250 COMMON STOCK 50
RETAIL TRADE 207
3.0%
31,600 Wendy's International Inc 564,850
5
Total Return Portfolio 250 COMMON STOCK 50
RETAIL TRADE 207
10,500 TJ International Inc 196,875
5
Total Return Portfolio 250 COMMON STOCK 50
RETAIL TRADE 207
13,800 Walgreen Co 691,725
5
Total Return Portfolio 250 COMMON STOCK 50
TRANSPORTATION EQUIPMEN 170
1.6%
12,500 The Boeing Co 782,813
5
Total Return Portfolio 250 COMMON STOCK 50
WHOLESALE TRADE -CONSUM 209
1.6%
11,100 Procter & Gamble Co 797,813
********************
5
Total Return Portfolio 250 SHORT-TERM INVESTMENT 10
4.5%FOREIGN BANKS 130 4.5%
2,199,000 Canadian Imperial Bank of Commerce *********2,199,000
2,199,000 ********************
5
U S Government Securities P 230 BONDS 20
86.2%AGENCY 45
71.2%
3,000,000 Federal Farm Credit Bank *********
June 4, 2001 Medium Term Notes 6.320% 6
U S Government Securities P 230 BONDS 20
AGENCY
45
546,368 Federal National Mortgage Association 525,196
April 1, 2024 Pool #274657 6.500% 6
U S Government Securities P 230 BONDS 20
AGENCY
45
281,153 Government National Mortgage Associati 282,559
April 15, 2023Pool #342692 7.500% 6
U S Government Securities P 230 BONDS 20
AGENCY
45
590,943 Federal National Mortgage Association 568,044
February 1, 20Pool #267849 6.500% 6
U S Government Securities P 230 BONDS 20
AGENCY
45
183,815 Federal National Mortgage Association 176,692
May 1, 2024 Pool #278431 6.500% 6
U S Government Securities P 230 BONDS 20
AGENCY
45
100,517 Federal National Mortgage Association 96,622
March 1, 2024 Pool #050992 6.500% 6
U S Government Securities P 230 BONDS 20
AGENCY
45
504,228 Federal National Mortgage Association 484,689
June 1, 2024 Pool #286108 6.500% 6
U S Government Securities P 230 BONDS 20
AGENCY
45
595,135 Government National Mortgage Associati 598,111
November 15, 2Pool #378599 7.500% 6
U S Government Securities P 230 BONDS 20
AGENCY
45
241,158 Federal National Mortgage Association 231,813
April 1, 2024 Pool #025004 6.500% 6
U S Government Securities P 230 BONDS 20
AGENCY
45
475,560 Federal National Mortgage Association 457,132
April 1, 2024 Pool #249455 6.500% 6
U S Government Securities P 230 BONDS 20
AGENCY
45
1,085,085 Federal Home Loan Mortgage Corp *********
October 1, 201Pool #260025 10.250% 6
U S Government Securities P 230 BONDS 20
AGENCY
45
140,953 Government National Mortgage Associati 141,658
October 15, 20Pool #363553 7.500% 6
U S Government Securities P 230 BONDS 20
AGENCY
45
53,511 Government National Mortgage Associati 53,979
September 15, Pool #355348 7.500% 6
U S Government Securities P 230 BONDS 20
AGENCY
45
424,873 Government National Mortgage Associati 426,997
January 15, 20Pool #347530 7.500% 6
U S Government Securities P 230 BONDS 20
AGENCY
45
328,964 Federal National Mortgage Association 316,217
September 1, 2Pool #250178 6.500% 6
U S Government Securities P 230 BONDS 20
AGENCY
45
250,944 Government National Mortgage Associati 264,118
May 20, 2022 Pool #001831 9.500% 6
U S Government Securities P 230 BONDS 20
AGENCY 45
2,000,000 Tennessee Valley Authority *********
June 15, 2005 Notes 6.375% 6
U S Government Securities P 230 BONDS 20
AGENCY 45
1,309,529 Government National Mortgage Associati*********
June 20, 2023 Pool #001224 8.000% 6
U S Government Securities P 230 BONDS 20
AGENCY 45
863,887 Government National Mortgage Associati 877,925
September 20, Pool #001376 8.000% 6
U S Government Securities P 230 BONDS 20
AGENCY 45
411,155 Government National Mortgage Associati 413,21
1
March 15, 2023Pool #330016 7.500% 6
U S Government Securities P 230 BONDS 20
AGENCY 45
4,063,653 Government National Mortgage Associati*********
January 15, 20Pool #371006 7.000% 6
U S Government Securities P 230 BONDS 20
AGENCY 45
629,163 Government National Mortgage Associati 632,308
October 15, 20Pool #356453 7.500% 6
U S Government Securities P 230 BONDS 20
AGENCY 45
1,961,828 Government National Mortgage Associati*********
June 15, 2025 Pool #410042 7.500% 6
U S Government Securities P 230 BONDS 20
AGENCY 45
57,025 Government National Mortgage Associati 57,
310
May 15, 2023 Pool #340792 7.500% 6
U S Government Securities P 230 BONDS 20
AGENCY 45
320,401 Government National Mortgage Associati 322,003
February 15, 2Pool #375980 7.500% 6
U S Government Securities P 230 BONDS 20
AGENCY 45
241,869 Federal National Mortgage Association 232,497
May 1, 2024 Pool #268691 6.500% 6
U S Government Securities P 230 BONDS 20
AGENCY 45
5,000,000 Federal National Mortgage Association *********
November 1, 20TBA 7.500% 6
U S Government Securities P 230 BONDS 20
AGENCY 45
278,004 Federal National Mortgage Association 267,231
April 1, 2024 Pool #279255 6.500% 6
U S Government Securities P 230 BONDS 20
AGENCY 45
883,930 Federal National Mortgage Association 849,678
January 1, 202Pool #050965 6.500% 6
U S Government Securities P 230 BONDS 20
AGENCY 45
1,804,909 Federal Home Loan Mortgage Corp *********
December 1, 20Pool #E00177 6.500% 6
U S Government Securities P 230 BONDS 20
AGENCY 45
3,500,000 Federal National Mortgage Association *********
March 1, 2009 TBA 7.000% 6
U S Government Securities P 230 BONDS 20
AGENCY 45
2,672,990 Federal Home Loan Mortgage Corp *********
November 1, 20Pool #G00256 8.000% 6
U S Government Securities P 230 BONDS 20
AGENCY 45
147,862 Federal Home Loan Mortgage Corp 143,426
October 1, 200Pool #E00241 6.000% 6
U S Government Securities P 230 BONDS 20
AGENCY 45
933,927 Federal Home Loan Mortgage Corp 904,975
March 1, 2009 Pool #M70044 6.000% 6
U S Government Securities P 230 BONDS 20
AGENCY 45
558,580 Federal Home Loan Mortgage Corp 541,823
April 1, 2009 Pool #E00291 6.000% 6
U S Government Securities P 230 BONDS 20
AGENCY 45
162,015 Federal Home Loan Mortgage Corp 157,15
5
April 1, 2009 Pool #E57977 6.000% 6
U S Government Securities P 230 BONDS 20
AGENCY 45
1,112,555 Federal Home Loan Mortgage Corp *********
August 1, 2001Pool #220010 8.750% 6
U S Government Securities P 230 BONDS 20
AGENCY 45
1,027,874 Federal Home Loan Mortgage Corp *********
July 1, 2020 Pool #N70016 11.000% 6
U S Government Securities P 230 BONDS 20
AGENCY 45
130,014 Federal Home Loan Mortgage Corp 126,113
April 1, 2009 Pool #E57809 6.000% 6
U S Government Securities P 230 BONDS 20
AGENCY 45
1,973,807 Federal Home Loan Mortgage Corp *********
September 1, 2Pool #G10331 6.000% 6
U S Government Securities P 230 BONDS 20
AGENCY
45
689,392 Federal Home Loan Mortgage Corp 668,710
May 1, 2009 Pool #G10205 6.000% 6
U S Government Securities P 230 BONDS 20
AGENCY
45
267,927 Federal Home Loan Mortgage Corp 259,889
January 1, 200Pool #E55428 6.000% 6
U S Government Securities P 230 BONDS 20
AGENCY
45
202,902 Federal Home Loan Mortgage Corp 202,245
October 1, 200Pool #230019 8.500% 6
U S Government Securities P 230 BONDS 20
AGENCY
45
1,440,967 Federal National Mortgage Association *********
October 1, 202Pool #288761 7.500% 6
U S Government Securities P 230 BONDS 20
AGENCY
45
1,010,277 Federal National Mortgage Association *********
December 1, 20Pool #039271 8.950% 6
U S Government Securities P 230 BONDS 20
AGENCY
45
211,949 Federal Home Loan Mortgage Corp 205,591
April 1, 2009 Pool #E58355 6.000% 6
U S Government Securities P 230 BONDS 20
AGENCY
45
2,346,375 Federal National Mortgage Association *********
September 1, 2Pool #288748 7.500% 6
U S Government Securities P 230 BONDS 20
AGENCY
45
483,090 Federal National Mortgage Association 464,370
January 1, 202Pool #265868 6.500% 6
U S Government Securities P 230 BONDS 20
AGENCY
45
1,998,237 Federal National Mortgage Association *********
August 1, 2024Pool #288735 7.500% 6
U S Government Securities P 230 BONDS 20
AGENCY
45
97,913 Federal Home Loan Mortgage Corp 104,678
July 1, 2005 TPM Pool #730096 10.000% 6
U S Government Securities P 230 BONDS 20
AGENCY
45
470,247 Federal Home Loan Mortgage Corp 456,139
July 1, 2009 Pool #G10257 6.000% 6
U S Government Securities P 230 BONDS 20
AGENCY
45
231,945 Federal Home Loan Mortgage Corp 224,987
May 1, 2009 Pool #E58713 6.000% 6
U S Government Securities P 230 BONDS 20
AGENCY
45
179,644 Federal Home Loan Mortgage Corp 195,327
July 1, 2005 TPM Pool #730105 10.000% 6
U S Government Securities P 230 BONDS 20
CREDIT INSTITUTIONS 125
1.4%
1,000,000 Student Loan Marketing Association *********
December 13, 1Medium Term Notes 8.520% 6
U S Government Securities P 230 BONDS 20
U.S. GOVERNMENTS
5 13.6%
1,400,000 United States of America *********
May 15, 2005 Treasury Notes 6.500% 6
U S Government Securities P 230 BONDS 20
U.S. GOVERNMENTS
5
8,000,000 United States of America
*****************************
April 30, 2000Treasury Notes 6.750% 6
U S Government Securities P 230 SHORT-TERM INVESTMENT 10
13.8%CREDIT INSTITUTIONS 125 4.3%
3,100,000 Sanwa Business Credit Corp *********
6
U S Government Securities P 230 SHORT-TERM INVESTMENT 10
ELECTRIC
75 2.8%
2,000,000 Baltimore Gas & Electric Co *********
6
U S Government Securities P 230 SHORT-TERM INVESTMENT 10
FOREIGN BANKS 130
2.0%
1,417,000 Canadian Imperial Bank of Commerce *********
6
U S Government Securities P 230 SHORT-TERM INVESTMENT 10
RETAIL TRADE 207
0.6%
400,000 Penney (J C) Funding Corp 398,812
6
U S Government Securities P 230 SHORT-TERM INVESTMENT 10
SECURITIES & COMMODITIE 145
4.2%
3,000,000 Merrill Lynch & Company Inc *********9,870,628
9,870,628 ********************
6
Zero-Coupon 1995 Portfolio 240 BONDS 20
100.0%U.S. GOVERNMENTS
5
100.0%
5,000 United States of America 5,027
August 15, 199Treasury Notes Series 10.500% 7
Zero-Coupon 1995 Portfolio 240 BONDS 20
U.S. GOVERNMENTS
5
990,000 United States of America 969,982 975,009
957,495 975,009 957,495 November 15,
1Principal Strips % 7
Corporate Bond Portfolio 440 BONDS 20
87.4%AIR 160 3.3%
98,300 NWA Trust 100,758
March 10, 2006Bonds 9.360% 8
Corporate Bond Portfolio 440 BONDS 20
AIR 160
50,000 AMR Corp 49,210
March 1, 2017 Notes 8.625% 8
Corporate Bond Portfolio 440 BONDS 20
AIR 160
250,000 AMR Corp 264,053
August 1, 2012Debentures 9.000% 8
Corporate Bond Portfolio 440 BONDS 20
AIR 160
450,000 United Air Lines Inc 480,848
October 19, 20Debentures 9.560% 8
Corporate Bond Portfolio 440 BONDS 20
CANADIAN - PROVINCIAL
25 12.9%
900,000 Ontario Hydro 664,240
August 18, 202Bonds 8.900% 8
Corporate Bond Portfolio 440 BONDS 20
CANADIAN - PROVINCIAL
25
1,750,000 Quebec *********
January 16, 20Debentures 9.375% 8
Corporate Bond Portfolio 440 BONDS 20
CANADIAN - PROVINCIAL
25
500,000 Saskatchewan 361,198
May 30, 2025 Debentures 8.750% 8
Corporate Bond Portfolio 440 BONDS 20
CANADIAN - PROVINCIAL
25
1,400,000 British Columbia 214,163
June 9, 2014 Debentures % 8
Corporate Bond Portfolio 440 BONDS 20
CANADIAN - PROVINCIAL
25
4,800,000 Ontario Residuals 326,312
July 13, 2022 Zero Coupon Bonds % 8
Corporate Bond Portfolio 440 BONDS 20
CANADIAN - PROVINCIAL
25
4,000,000 British Columbia 611,893
August 23, 201Principal Strips % 8
Corporate Bond Portfolio 440 BONDS 20
COMMUNICATIONS 190
4.9%
200,000 Nextel Communications Inc 96,000
August 15, 200Senior Discount Note % 8
Corporate Bond Portfolio 440 BONDS 20
COMMUNICATIONS 190
200,000 Rogers Cablesystems of America 123,735
January 15, 20Debentures 9.650% 8
Corporate Bond Portfolio 440 BONDS 20
COMMUNICATIONS 190
200,000 Tele-Communications Inc 186,732
August 1, 2013Debentures 7.875% 8
Corporate Bond Portfolio 440 BONDS 20
COMMUNICATIONS 190
250,000 Time Warner Inc 245,313
April 1, 2017 Callable Notes 8.750% 8
Corporate Bond Portfolio 440 BONDS 20
COMMUNICATIONS 190
500,000 Time Warner Entertainment LP 492,660
March 15, 2023Debentures 8.375% 8
Corporate Bond Portfolio 440 BONDS 20
COMMUNICATIONS 190
500,000 Time Warner Inc 168,750
December 17, 2Bonds % 8
Corporate Bond Portfolio 440 BONDS 20
CONSTRUCTION 203
1.2%
250,000 Hovnanian Enterprises Inc 192,500
June 1, 2005 Subordinated Notes 9.750% 8
Corporate Bond Portfolio 440 BONDS 20
CONSTRUCTION 203
219,000 Midland-Ross Corp 136,328
February 15, 2Debentures 6.000% 8
Corporate Bond Portfolio 440 BONDS 20
CONSUMER SERVICES 211
0.7%
200,000 Aktiebolaget SKF 150,745
July 26, 2002 Convertible Bonds % 8
Corporate Bond Portfolio 440 BONDS 20
CONSUMER SERVICES 211
50,000 Genzyme Corp 49,692
October 1, 200Debentures 6.750% 8
Corporate Bond Portfolio 440 BONDS 20
ELECTRIC
75 5.4%
500,000 PNPP II Funding Corp 476,330
May 30, 2016 Collateralized Lease B 9.120% 8
Corporate Bond Portfolio 440 BONDS 20
ELECTRIC
75
250,000 Commonwealth Edison Co 188,545
December 1, 20Debentures 4.750% 8
Corporate Bond Portfolio 440 BONDS 20
ELECTRIC
75
500,000 BVPS II Funding Corp 460,280
June 1, 2017 Collateralized Lease B 8.680% 8
Corporate Bond Portfolio 440 BONDS 20
ELECTRIC
75
350,000 Beaver Valley Funding Corp 294,000
June 1, 2017 Debentures 9.000% 8
Corporate Bond Portfolio 440 BONDS 20
ELECTRIC
75
50,000 Long Island Lighting Co 43,541
March 15, 2023Debentures 8.200% 8
Corporate Bond Portfolio 440 BONDS 20
ELECTRONICS - HIGH TECH 205
7.4%
850,000 Westinghouse Electric Corp 809,107
September 1, 2Debentures 7.875% 8
Corporate Bond Portfolio 440 BONDS 20
ELECTRONICS - HIGH TECH 205
250,000 Maxtor Corp 156,875
March 1, 2012 Debentures 5.750% 8
Corporate Bond Portfolio 440 BONDS 20
ELECTRONICS - HIGH TECH 205
300,000 Micropolis Corp 174,750
March 15, 2012Debentures 6.000% 8
Corporate Bond Portfolio 440 BONDS 20
ELECTRONICS - HIGH TECH 205
50,000 Data General Corp 48,062
September 15, Debentures 8.375% 8
Corporate Bond Portfolio 440 BONDS 20
ELECTRONICS - HIGH TECH 205
50,000 EDO Corp 30,000
December 15, 2Debentures 7.000% 8
Corporate Bond Portfolio 440 BONDS 20
ELECTRONICS - HIGH TECH 205
50,000 Amsco International Inc 43,000
October 15, 20Subordinated Debenture 4.500% 8
Corporate Bond Portfolio 440 BONDS 20
ELECTRONICS - HIGH TECH 205
425,000 Digital Equipment Corp 389,109
April 1, 2023 Debentures 7.750% 8
Corporate Bond Portfolio 440 BONDS 20
ELECTRONICS - HIGH TECH 205
300,000 Convex Computer Corp 157,500
March 1, 2012 Debentures 6.000% 8
Corporate Bond Portfolio 440 BONDS 20
ELECTRONICS - HIGH TECH 205
127,000 Atari Corp 62,230
April 29, 2002Eurodollar Bonds 5.250% 8
Corporate Bond Portfolio 440 BONDS 20
ELECTRONICS - HIGH TECH 205
50,000 Richardson Electronics Ltd 40,000
December 15, 2Debentures 7.250% 8
Corporate Bond Portfolio 440 BONDS 20
ELECTRONICS - HIGH TECH 205
100,000 Synoptics Communications Inc 92,000
May 15, 2003 Subordinated Debenture 5.250% 8
Corporate Bond Portfolio 440 BONDS 20
ENVIRONMENTAL SERVICES 201
2.4%
395,000 Ogden Corp 355,500
October 20, 20Eurodollar Bonds 5.750% 8
Corporate Bond Portfolio 440 BONDS 20
ENVIRONMENTAL SERVICES 201
105,000 Ogden Corp 96,075
June 1, 2002 Eurodollar Bonds 6.000% 8
Corporate Bond Portfolio 440 BONDS 20
ENVIRONMENTAL SERVICES 201
250,000 Air & Water Technologies Corp 197,494
May 15, 2015 Debentures 8.000% 8
Corporate Bond Portfolio 440 BONDS 20
FOREIGN BANKS 130
1.2%
250,000 Yasuda Trust & Banking Company Ltd 191,250
September 30, Debentures 2.875% 8
Corporate Bond Portfolio 440 BONDS 20
FOREIGN BANKS 130
200,000 Banco Nacional De Comercio Exterior 142,500
February 2, 20Global Bonds 7.250% 8
Corporate Bond Portfolio 440 BONDS 20
FOREIGN GOVERNMENTS
35 15.6%
1,850,000 Brazil 818,625
April 15, 2024Bonds % 8
Corporate Bond Portfolio 440 BONDS 20
FOREIGN GOVERNMENTS
35
1,750,000 Argentina 831,250
March 31, 2023Debentures 5.000% 8
Corporate Bond Portfolio 440 BONDS 20
FOREIGN GOVERNMENTS
35
700,000 Brazil 309,750
April 15, 2024Debentures 4.000% 8
Corporate Bond Portfolio 440 BONDS 20
FOREIGN GOVERNMENTS
35
785,000 New Zealand 538,127
April 15, 2004Bonds 8.000% 8
Corporate Bond Portfolio 440 BONDS 20
FOREIGN GOVERNMENTS
35
995,000 New Zealand 685,276
November 15, 2Bonds 8.000% 8
Corporate Bond Portfolio 440 BONDS 20
FOREIGN GOVERNMENTS
35
500,000 Ecuador Par 162,500
February 28, 2Global Bonds % 8
Corporate Bond Portfolio 440 BONDS 20
FOREIGN GOVERNMENTS
35
145,000 Ireland 199,378
October 18, 20Government Notes 6.250% 8
Corporate Bond Portfolio 440 BONDS 20
FOREIGN GOVERNMENTS
35
425,000 Ireland 673,433
August 18, 201Debentures 8.250% 8
Corporate Bond Portfolio 440 BONDS 20
GAS 80
0.4%
100,000 Centragas 103,375
December 1, 20Bonds 10.650% 8
Corporate Bond Portfolio 440 BONDS 20
HOLDING & INVEST. OFFIC 125
4.6%
1,100,000 Rockefeller Center Properties Inc 579,563
December 31, 2Debentures % 8
Corporate Bond Portfolio 440 BONDS 20
HOLDING & INVEST. OFFIC 5
750,000 Federal Realty Investment Trust 651,563
October 28, 20Convertible Bonds 5.250% 8
Corporate Bond Portfolio 440 BONDS 20
INDEPENDENT POWER PROD 120
0.2%
50,000 California Energy Company Inc 42,500
January 15, 20Senior Notes % 8
Corporate Bond Portfolio 440 BONDS 20
INDUSTRIAL SERVICES 199
0.6%
150,000 Bolt Beranek & Newman Inc 154,500
April 1, 2012 Debentures 6.000% 8
Corporate Bond Portfolio 440 BONDS 20
MFTG - CONSUMER PRODS. 215
2.8%
50,000 Chiquita Brands International Inc 43,000
March 28, 2001Subordinated Debenture 7.000% 8
Corporate Bond Portfolio 440 BONDS 20
MFTG - CONSUMER PRODS. 215
50,000 Chiquita Brands International Inc 48,500
March 1, 2004 Senior Notes 9.125% 8
Corporate Bond Portfolio 440 BONDS 20
MFTG - CONSUMER PRODS. 215
700,000 RJR Nabisco Inc 675,563
September 15, Bonds 7.625% 8
Corporate Bond Portfolio 440 BONDS 20
MFTG - INDUSTRIAL PRODS 195
6.0%
225,000 Centocor Inc 175,500
October 16, 20Subordinated Debenture 6.750% 8
Corporate Bond Portfolio 440 BONDS 20
MFTG - INDUSTRIAL PRODS 195
200,000 FMC Corp 174,25
Ja
nuary 16, 20Debentures 6.750% 8
Corporate Bond Portfolio 440 BONDS 20
MFTG - INDUSTRIAL PRODS 195
500,000 Chiron Corp 399,904
November 17, 2Convertible Bonds 1.900% 8
Corporate Bond Portfolio 440 BONDS 20
MFTG - INDUSTRIAL PRODS 195
75,000 Hexcel Corp 48,375
August 1, 2011Debentures % 8
Corporate Bond Portfolio 440 BONDS 20
MFTG - INDUSTRIAL PRODS 195
100,000 Domtar Inc 70,056
April 15, 2011Debentures 10.000% 8
Corporate Bond Portfolio 440 BONDS 20
MFTG - INDUSTRIAL PRODS 195
100,000 Avenor Inc 75,333
November 30, 2Debentures 10.850% 8
Corporate Bond Portfolio 440 BONDS 20
MFTG - INDUSTRIAL PRODS 195
1,800,000 Alza Corp 666,000
July 14, 2014 Subordinated Notes % 8
Corporate Bond Portfolio 440 BONDS 20
MINING 105
1.6%
600,000 Geneva Steel Co 429,000
January 15, 20Senior Notes 9.500% 8
Corporate Bond Portfolio 440 BONDS 20
OIL & GAS 100
4.0%
50,000 USX-Marathon Group 50,194
March 1, 2023 Debentures 8.500% 8
Corporate Bond Portfolio 440 BONDS 20
OIL & GAS 100
100,000 Lasmo 136,812
October 4, 200Debentures 7.750% 8
Corporate Bond Portfolio 440 BONDS 20
OIL & GAS 100
200,000 Maxus Energy Corp 178,000
April 1, 2008 Debentures 8.500% 8
Corporate Bond Portfolio 440 BONDS 20
OIL & GAS 100
350,000 USX-Marathon Group 337,421
July 15, 2023 Debentures 8.125% 8
Corporate Bond Portfolio 440 BONDS 20
OIL & GAS 100
50,000 Pennzoil Co 47,500
October 1, 200Bonds 4.750% 8
Corporate Bond Portfolio 440 BONDS 20
OIL & GAS 100
250,000 Forest Oil Corp 230,000
September 1, 2Senior Subordinated No 11.250% 8
Corporate Bond Portfolio 440 BONDS 20
OIL & GAS 100
100,000 Oryx Energy Co 87,000
May 15, 2014 Convertible Debentures 7.500% 8
Corporate Bond Portfolio 440 BONDS 20
REAL ESTATE 150
0.8%
250,000 The Rouse Co 227,656
July 23, 2002 Debentures 5.750% 8
Corporate Bond Portfolio 440 BONDS 20
RETAIL TRADE 207
5.2%
500,000 Woolworth Corp 491,510
January 15, 20Debentures 8.500% 8
Corporate Bond Portfolio 440 BONDS 20
RETAIL TRADE 207
500,000 K-Mart Corp 514,070
January 5, 202Lease Notes 9.780% 8
Corporate Bond Portfolio 440 BONDS 20
RETAIL TRADE 207
400,000 K-Mart Lease 397,448
January 2, 202Bonds 9.350% 8
Corporate Bond Portfolio 440 BONDS 20
TRANSPORTATION EQUIPMEN 170
2.2%
200,000 Mascotech Inc 144,709
December 15, 2Convertible Debentures 4.500% 8
Corporate Bond Portfolio 440 BONDS 20
TRANSPORTATION EQUIPMEN 170
300,000 Rohr Industries Inc 285,750
March 1, 2017 Debentures 9.250% 8
Corporate Bond Portfolio 440 BONDS 20
TRANSPORTATION EQUIPMEN 170
213,000 Rohr Industries Inc 174,660
October 1, 201Debentures 7.000% 8
Corporate Bond Portfolio 440 BONDS 20
U.S. GOVERNMENTS
5 1.5%
2,600,000 United States of America 402,584
August 15, 202Principal Strip % 8
Corporate Bond Portfolio 440 BONDS 20
U.S. MUNICIPAL
15 1.1%
2,500,000 Foothill Eastern Transportation 230,250
January 1, 202Municipal Bonds % 8
Corporate Bond Portfolio 440 BONDS 20
U.S. MUNICIPAL
15
50,000 New York 55,044
June 1, 2009 Debentures 9.500% 8
Corporate Bond Portfolio 440 BONDS 20
WATER 185
0.1%
50,000 Transport Maritima Mexicana SA 38,750
May 15, 2003 Notes 9.250% 8
Corporate Bond Portfolio 440 BONDS 20
WHOLESALE TRADE -CONSUM 209
1.1%
250,000 Fuqua Industries Inc 186,250
August 4, 2002Debentures 6.500% 8
Corporate Bond Portfolio 440 BONDS 20
WHOLESALE TRADE -CONSUM 209
50,000 Glycomed Inc 32,875
January 1, 200Convertible Sub Debent 7.500% 8
Corporate Bond Portfolio 440 BONDS 20
WHOLESALE TRADE -CONSUM 209
200,000 Vendell Healthcare Inc 90,000
********************
December 5, 20Bonds 12.000% 8
Corporate Bond Portfolio 440 PREFERRED STOCK 70
11.2%AIR 160 0.3%
2,500 Pittston Services Group 80,000
*
8
Corporate Bond Portfolio 440 PREFERRED STOCK 70
CREDIT INSTITUTIONS 125
3.5%
1,500 Marine Midland Bank 63,188
8
Corporate Bond Portfolio 440 PREFERRED STOCK 70
CREDIT INSTITUTIONS 125
1,000 First Chicago Corp 83,000
8
Corporate Bond Portfolio 440 PREFERRED STOCK 70
CREDIT INSTITUTIONS 125
3,400 Citicorp 282,200
8
Corporate Bond Portfolio 440 PREFERRED STOCK 70
CREDIT INSTITUTIONS 125
1,500 Bank of Boston Corp 117,000
8
Corporate Bond Portfolio 440 PREFERRED STOCK 70
CREDIT INSTITUTIONS 125
4,850 BankAmerica Corp 389,400
8
Corporate Bond Portfolio 440 PREFERRED STOCK 70
ELECTRIC
75 3.8%
2,500 Texas Utilities Electric Co 217,813
8
Corporate Bond Portfolio 440 PREFERRED STOCK 70
ELECTRIC
75
200 The Cleveland Electric Illuminating Co 178,000
8
Corporate Bond Portfolio 440 PREFERRED STOCK 70
ELECTRIC
75
4,300 Niagara Mohawk Power Corp 102,663
8
Corporate Bond Portfolio 440 PREFERRED STOCK 70
ELECTRIC
75
100 New York State Electric & Gas Corp 4,450
8
Corporate Bond Portfolio 440 PREFERRED STOCK 70
ELECTRIC
75
4,250 Niagara Mohawk Power Corp 99,875
8
Corporate Bond Portfolio 440 PREFERRED STOCK 70
ELECTRIC
75
909 Central Louisiana Electric Company Inc 74,311
8
Corporate Bond Portfolio 440 PREFERRED STOCK 70
ELECTRIC
75
10,000 Nevada Power Co 162,500
8
Corporate Bond Portfolio 440 PREFERRED STOCK 70
ELECTRIC
75
1,500 MDU Resources Group Inc 131,910
8
Corporate Bond Portfolio 440 PREFERRED STOCK 70
ELECTRIC
75
3,000 Long Island Lighting Co 55,710
8
Corporate Bond Portfolio 440 PREFERRED STOCK 70
GAS
80 0.4%
1,800 Transco Energy Co 111,600
8
Corporate Bond Portfolio 440 PREFERRED STOCK 70
MFTG - INDUSTRIAL PRODS 195
2.6%
950 Aluminum Company of America 53,197
8
Corporate Bond Portfolio 440 PREFERRED STOCK 70
MFTG - INDUSTRIAL PRODS 195
13,350
Bethlehem Steel Corp 620,775
8
Corporate Bond Portfolio 440 PREFERRED STOCK 70
MFTG - INDUSTRIAL PRODS 195
700
McDermott Inc 20,300
8
Corporate Bond Portfolio 440 PREFERRED STOCK 70
OIL & GAS 100
0.0%
200 Enserch Corp 0
*
8
Corporate Bond Portfolio 440 PREFERRED STOCK 70
REAL ESTATE 150
0.3%
1,500 The Rouse Co 76,500
8
Corporate Bond Portfolio 440 PREFERRED STOCK 70
RETAIL TRADE 207
0.4%
2,500 TJX Companies Inc 105,313 3,029,705
2,912,227
8
Corporate Bond Portfolio 440 SHORT-TERM INVESTMENT 10
1.4%FOREIGN BANKS 130
1.4%
379,000 Canadian Imperial Bank of Commerce 379,000 379,000
379,000 ********************
8
International Equity Portfo 405 BONDS 20
1.5%MFTG - INDUSTRIAL PRODS 195
Germany 0.2% 115,000
Arbed SA 72,337
Germany July 15, 2003 Convertible Bonds 2.500% 9
International Equity Portfo 405 BONDS 20
REAL ESTATE 150
Thailand 0.3% 274,000
MDX Public Company Ltd 161,660
Thailand September 17, Convertible Eurodollar 4.750% 9
International Equity Portfo 405 BONDS 20
ELECTRIC
75
United Kingdom 1.0% 275,000
National Power PLC 459,354 693,351 649,266
United KingdomSeptember 23, Convertible 6.250% 9
International Equity Portfo 405 COMMON STOCK 50
83.5%CONSUMER SERVICES 211
Argentina 2.5% 7,970
Central Costanera 247,070
Argentina 9
International Equity Portfo 405 COMMON STOCK 50
OIL & GAS 100
Argentina 7,400
Transportadora de Gas del Sur SA 77,700
Argentina 9
International Equity Portfo 405 COMMON STOCK 50
OIL & GAS 100
Argentina 22,700
YPF SA 428,463
Argentina 9
International Equity Portfo 405 COMMON STOCK 50
TELEPHONE
85
Argentina 16,600
Telefonica de Argentina SA 410,850
Argentina 9
International Equity Portfo 405 COMMON STOCK 50
WHOLESALE TRADE -CONSUM 209
Argentina 3,200
Compania Interamericana de Automobil S 15,525
*
Argentina 9
International Equity Portfo 405 COMMON STOCK 50
FOREIGN BANKS 130
Australia 3.7% 120,194
Westpac Banking Corporation Ltd 433,646
Australia 9
International Equity Portfo 405 COMMON STOCK 50
FOREIGN BANKS 130
Australia 135,923
Australia & New Zealand Banking Group 481,723
Australia 9
International Equity Portfo 405 COMMON STOCK 50
GAS
80
Australia 40,000
Australian Gas Light Company Ltd 126,737
Australia 9
International Equity Portfo 405 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
Australia 258,000
Alcan Australia Ltd 464,502
Australia 9
International Equity Portfo 405 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
Australia 62,100
Comalco Ltd 224,490
Australia 9
International Equity Portfo 405 COMMON STOCK 50
CONSTRUCTION 203
Austria 3.1% 4,200 Va
Technologie AG 525,987
Austria 9
International Equity Portfo 405 COMMON STOCK 50
ELECTRIC
75
Austria 2,800
EVN-Energie Versorgung AG 391,506
*
Austria 9
International Equity Portfo 405 COMMON STOCK 50
RETAIL TRADE 207
Austria 10,900
Baumax AG 520,717
Austria 9
International Equity Portfo 405 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
Belgium 1.9% 720
Solvay SA 398,489
Belgium 9
International Equity Portfo 405 COMMON STOCK 50
MINING 105
Belgium 7,500 NV
Union Miniere SA 490,205
*
Belgium 9
International Equity Portfo 405 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
Canada 4.3% 13,300
Newbridge Networks Corp 468,825
*
Canada 9
International Equity Portfo 405 COMMON STOCK 50
FOREIGN BANKS 130
Canada 9,400
Canadian Imperial Bank of Commerce 225,781
Canada 9
International Equity Portfo 405 COMMON STOCK 50
INSURANCE 135
Canada 11,000
London Insurance Group Inc 205,164
Canada 9
International Equity Portfo 405 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
Canada 59,000
Asia Pacific Resource International Ho 523,625
*
Canada 9
International Equity Portfo 405 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
Canada 70,000
Primex Forest Products Ltd 445,811
Canada 9
International Equity Portfo 405 COMMON STOCK 50
MINING 105
Canada 21,900
Inmet Mining Corp 155,415
*
Canada 9
International Equity Portfo 405 COMMON STOCK 50
TELEPHONE
85
Denmark 0.4% 260
Tele Danmark A/S 14,466
Denmark 9
International Equity Portfo 405 COMMON STOCK 50
TELEPHONE
85
Denmark 6,400
Tele Danmark A/S 179,200
Denmark 9
International Equity Portfo 405 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
European Commu 1.5% 192,000 PT
Barito Pacific Timber 275,887
European Community 9
International Equity Portfo 405 COMMON STOCK 50
REAL ESTATE 150
European Community 1,566,000
Filinvest Land Inc 453,735
European Community 9
International Equity Portfo 405 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
Finland 3.1% 20,050
Amer Group Ltd 364,205
Finland 9
International Equity Portfo 405 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
Finland 800
Outokumpu OY 430
*
Finland 9
International Equity Portfo 405 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
Finland 46,000
Enso-Gutzeit OY 416,178
Finland 9
International Equity Portfo 405 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
Finland 20,500
Outokumpu OY 340,269
Finland 9
International Equity Portfo 405 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
Finland 7,700
Metsa-Serla OY 342,022
Finland 9
International Equity Portfo 405 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
France 6.3% 4,800
Alcatel Alsthom (Cie Gen El) 432,520
France 9
International Equity Portfo 405 COMMON STOCK 50
FOREIGN BANKS 130
France 8,600
Banque Nationale de Paris 415,142
France 9
International Equity Portfo 405 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
France 760
Ciba-Geigy AG 556,757
France 9
International Equity Portfo 405 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
France 21,700
Pechiney International SA 548,375
France 9
International Equity Portfo 405 COMMON STOCK 50
OIL & GAS 100
France 10,800
Compagnie Francaise de Petroleum Total 650,562
France 9
International Equity Portfo 405 COMMON STOCK 50
OIL & GAS 100
France 5,000
Societe Nationale Elf Aquitaine 369,778
France 9
International Equity Portfo 405 COMMON STOCK 50
ELECTRIC 75
Germany 3.5% 1,250
Veba AG 490,842
Germany 9
International Equity Portfo 405 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
Germany 1,300
Arbed SA 189,581
*
Germany 9
International Equity Portfo 405 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
Germany 2,060
Bayer AG 511,986
Germany 9
International Equity Portfo 405 COMMON STOCK 50
TRANSPORTATION EQUIPMEN 170
Germany 7,800
Bremer Vulkan Verbund AG 450,834
*
Germany 9
International Equity Portfo 405 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
Global 1.0% 153,000 PT
Indo-Rama Synthetics-Fore 458,588
Global 9
International Equity Portfo 405 COMMON STOCK 50
ELECTRIC 75
Hong Kong 6.3% 33,000
Shandong Huaneng Power 251,625
Hong Kong 9
International Equity Portfo 405 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
Hong Kong 54,000
Jardine Matheson Holdings Ltd 396,899
Hong Kong 9
International Equity Portfo 405 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
Hong Kong 8,000
Swire Pacific Ltd 61,002
Hong Kong 9
International Equity Portfo 405 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
Hong Kong 34,000
HSBC Holdings PLC 436,123
Hong Kong 9
International Equity Portfo 405 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
Hong Kong 100,000
Jardine Strategic Holdings Ltd 322,000
*
Hong Kong 9
International Equity Portfo 405 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
Hong Kong 622,000
Yue Yuen Industrial Holdings 151,129
Hong Kong 9
International Equity Portfo 405 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
Hong Kong 912,000
Oriental Press Group 368,925
*
Hong Kong 9
International Equity Portfo 405 COMMON STOCK 50
REAL ESTATE 150
Hong Kong 47,000
Hutchison Whampoa Ltd 227,179
Hong Kong 9
International Equity Portfo 405 COMMON STOCK 50
REAL ESTATE 150
Hong Kong 52,000
Cheung Kong Holdings Ltd 257,396
Hong Kong 9
International Equity Portfo 405 COMMON STOCK 50
RETAIL TRADE 207
Hong Kong 255,000
Dairy Farm International Holdings Ltd 219,230
Hong Kong 9
International Equity Portfo 405 COMMON STOCK 50
SECURITIES & COMMODITIE 145
Hong Kong 62,000
Peregrine Investment Holdings Ltd 88,142
Hong Kong 9
International Equity Portfo 405 COMMON STOCK 50
WATER 185
Hong Kong 978,000
Shanghai Haixing Shipping Co 199,708
Hong Kong 9
International Equity Portfo 405 COMMON STOCK 50
COMMUNICATIONS 190
Italy 2.2% 174,000
Telecom Italia SPA 471,405
Italy 9
International Equity Portfo 405 COMMON STOCK 50
COMMUNICATIONS 190
Italy 189,000
Stet Societa' Finanziaria Telefonica S 419,679
Italy 9
International Equity Portfo 405 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
Italy 5,440
Burgo (Cartiere) SPA 479
*
Italy 9
International Equity Portfo 405 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
Italy 16,520
Burgo (Cartiere) SPA 108,990
Italy 9
International Equity Portfo 405 COMMON STOCK 50
RETAIL TRADE 207
Italy 8,960
Unicem Unione Cementi Marchino 53,366
Italy 9
International Equity Portfo 405 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
Japan 1.6% 5,000
Hitachi Ltd 49,764
Japan 9
International Equity Portfo 405 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
Japan 14,200
Sony Corp 680,730
Japan 9
International Equity Portfo 405 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
Japan 3,000
Matsushita Electric Industrial Company 46,643
Japan 9
International Equity Portfo 405 COMMON STOCK 50
FOREIGN BANKS 130
Mexico 3.6% 17,900
Grupo Financiero Banamex 27,146
Mexico 9
International Equity Portfo 405 COMMON STOCK 50
FOREIGN BANKS 130
Mexico 36,000
Grupo Financiero Banamex 54,596
Mexico 9
International Equity Portfo 405 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
Mexico 2,100
Embotelladora Andina SA 73,763
Mexico 9
International Equity Portfo 405 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
Mexico 1,128,600
Herdez SA de CV 334,012
*
Mexico 9
International Equity Portfo 405 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
Mexico 27,000
Cementos Paz Del Rio SA 452,250
*
Mexico 9
International Equity Portfo 405 COMMON STOCK 50
MINING 105
Mexico 7,200
Sociedad Quimica & Minera DE 340,200
Mexico 9
International Equity Portfo 405 COMMON STOCK 50
TELEPHONE 85
Mexico 13,800
Telefonos de Mexico SA 408,825
Mexico 9
International Equity Portfo 405 COMMON STOCK 50
CREDIT INSTITUTIONS 125
Netherlands 7.3% 7,300
International Nederlanden Group 403,489
Netherlands 9
International Equity Portfo 405 COMMON STOCK 50
FOREIGN BANKS 130
Netherlands 10,200
ABN Amro Holding NV 393,396
Netherlands 9
International Equity Portfo 405 COMMON STOCK 50
INDUSTRIAL SERVICES 199
Netherlands 13,700
Koninklijke PTT Nederland NV 492,157
Netherlands 9
International Equity Portfo 405 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
Netherlands 600
DSM NV 51,661
Netherlands 9
International Equity Portfo 405 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
Netherlands 11,525
European Vinyls Corporation Internatio 536,669
*
Netherlands 9
International Equity Portfo 405 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
Netherlands 4,000
Akzo Nobel NV 477,781
Netherlands 9
International Equity Portfo 405 COMMON STOCK 50
RETAIL TRADE 207
Netherlands 1,287
Koninklijke Bijenkorf Beheer 92,302
Netherlands 9
International Equity Portfo 405 COMMON STOCK 50
TRANSPORTATION EQUIPMEN 170
Netherlands 14,900
Koninklijke Nedlloyd NV 507,398
Netherlands 9
International Equity Portfo 405 COMMON STOCK 50
TRANSPORTATION EQUIPMEN 170
Netherlands 16,000
Koninklijke Pakhoed NV 489,133
Netherlands 9
International Equity Portfo 405 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
New Zealand 1.8% 645,000
Brierley Investments Ltd 487,069
New Zealand 9
International Equity Portfo 405 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
New Zealand 66,000
Carter Holt Harvey Ltd 161,427
New Zealand 9
International Equity Portfo 405 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
New Zealand 140,000
Fletcher Challenge Ltd 184,309
New Zealand 9
International Equity Portfo 405 COMMON STOCK 50
AIR 160
Norway 6.0% 42,500
Helikopter Service A/S 548,054
Norway 9
International Equity Portfo 405 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
Norway 28,100
Hafslund Nycomed A/S 649,513
Norway 9
International Equity Portfo 405 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
Norway 36,000
Elkem A/S 502,190
Norway 9
International Equity Portfo 405 COMMON STOCK 50
OIL & GAS 100
Norway 52,000
Transocean Drilling A/S 716,951
*
Norway 9
International Equity Portfo 405 COMMON STOCK 50
RETAIL TRADE 207
Norway 30,000
Aker A/S 401,460
Norway 9
International Equity Portfo 405 COMMON STOCK 50
ELECTRIC
75 Spain
5.4% 11,000 Empresa Nacional De Electridad SA 543,232
Spain 9
International Equity Portfo 405 COMMON STOCK 50
ELECTRIC
75 Spain
78,200 Iberdrola SA 588,970
Spain 9
International Equity Portfo 405 COMMON STOCK 50
FOREIGN BANKS 130
Spain 2,000
Banco Popular Espanol SA 297,300
Spain 9
International Equity Portfo 405 COMMON STOCK 50
FOREIGN BANKS 130
Spain 5,010
Banaco Intercontinental Espanol 450,979
Spain 9
International Equity Portfo 405 COMMON STOCK 50
INDUSTRIAL SERVICES 199
Spain 19,600
Dragados & Construcciones SA 284,879
Spain 9
International Equity Portfo 405 COMMON STOCK 50
TELEPHONE
85 Spain
30,800 Telefonica de Espana SA 396,796
Spain 9
International Equity Portfo 405 COMMON STOCK 50
FOREIGN BANKS 130
Sweden 4.7% 25,000
Svenska Handelsbanken Inc 372,514
Sweden 9
International Equity Portfo 405 COMMON STOCK 50
FOREIGN BANKS 130
Sweden 20,000
Stadshypotek AB 296,638
Sweden 9
International Equity Portfo 405 COMMON STOCK 50
INDUSTRIAL SERVICES 199
Sweden 29,900
Celsius Industrier AB 453,740
Sweden 9
International Equity Portfo 405 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
Sweden 12,500
Assidomaen AB 268,657
Sweden 9
International Equity Portfo 405 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
Sweden 9,400
Astra AB 282,713
Sweden 9
International Equity Portfo 405 COMMON STOCK 50
MINING 105
Sweden 10,000
Trelleborg AB 116,733
Sweden 9
International Equity Portfo 405 COMMON STOCK 50
WHOLESALE TRADE -CONSUM 209
Sweden 9,300
Electrolux AB 422,750
Sweden 9
International Equity Portfo 405 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
Switzerland 3.6% 830
SMH AG 533,113
Switzerland 9
International Equity Portfo 405 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
Switzerland 770
BBC Brown Boveri AG 629,841
Switzerland 9
International Equity Portfo 405 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
Switzerland 5,500 CS
Holding AG 503,646
Switzerland 9
International Equity Portfo 405 COMMON STOCK 50
INSURANCE 135
Switzerland 40
Zurich Versicherungsgesellschaft 50,239
Switzerland 9
International Equity Portfo 405 COMMON STOCK 50
REAL ESTATE 150
Thailand 0.4% 87,700
MDX Public Company Ltd 200,731
Thailand 9
International Equity Portfo 405 COMMON STOCK 50
ELECTRIC
75
United Kingdom 8.0% 30,000
Southern Electric PLC 306,395
United Kingdom 9
International Equity Portfo 405 COMMON STOCK 50
FOREIGN BANKS 130
United Kingdom 10,400
National Westminster Bank PLC 90,334
United Kingdom 9
International Equity Portfo 405 COMMON STOCK 50
GAS 80
United Kingdom 96,700
British Gas PLC 446,118
United Kingdom 9
International Equity Portfo 405 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
United Kingdom 28,000
TSB Group PLC 107,795
United Kingdom 9
International Equity Portfo 405 COMMON STOCK 50
INDUSTRIAL SERVICES 199
United Kingdom 139,700
Transport Development Group PLC 517,819
United Kingdom 9
International Equity Portfo 405 COMMON STOCK 50
INDUSTRIAL SERVICES 199
United Kingdom 348,000
Meggitt Holdings PLC 437,353
United Kingdom 9
International Equity Portfo 405 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
United Kingdom 60,000
News International PLC 290,169
United Kingdom 9
International Equity Portfo 405 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
United Kingdom 540,000
Albert Fisher Group PLC 395,164
United Kingdom 9
International Equity Portfo 405 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
United Kingdom 10,000
SmithKline Beecham PLC 452,500
United Kingdom 9
International Equity Portfo 405 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
United Kingdom 9,500
British Aerospace PLC 85,086
United Kingdom 9
International Equity Portfo 405 COMMON STOCK 50
RETAIL TRADE 207
United Kingdom 20,500
Kwik Save Group PLC 211,653
United Kingdom 9
International Equity Portfo 405 COMMON STOCK 50
RETAIL TRADE 207
United Kingdom 96,000
Tesco PLC 442,889
United Kingdom 9
International Equity Portfo 405 COMMON STOCK 50
INSURANCE 135
United States 1.1% 18,600
Ace Ltd 539,396 ********************
United States 9
International Equity Portfo 405 PREFERRED STOCK 70
0.3%TELEPHONE 85
Brazil 0.3% 4,350
Telecomunicacoes Brasileiras SA 142,462 142,462 145,402
Brazil 9
International Equity Portfo 405 SHORT-TERM INVESTMENT 10
14.7%FOREIGN BANKS 130
Canada 3.7% 1,728,000
Canadian Imperial Bank of Commerce *********
Canada 9
International Equity Portfo 405 SHORT-TERM INVESTMENT 10
CREDIT INSTITUTIONS 125
United States 11.0% 2,212,000
Ford Motor Credit Co *********
United States 9
International Equity Portfo 405 SHORT-TERM INVESTMENT 10
SECURITIES & COMMODITIE 145
United States 2,200,000
Merrill Lynch & Company Inc *********
United States 9
International Equity Portfo 405 SHORT-TERM INVESTMENT 10
SECURITIES & COMMODITIE 145
United States 800,000
Prudential Funding Corp 796,568 6,927,602 6,927,602
********************United States
9
INVESCO ADR Portfolio 455 COMMON STOCK 50
100.0%FOREIGN BANKS 130
Australia 8.4% 1,600
National Australia Bank Ltd 64,000
Australia 10
INVESCO ADR Portfolio 455 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
Australia 2,400
Amcor Ltd 72,000
Australia 10
INVESCO ADR Portfolio 455 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
Australia 3,000
Pacific Dunlop Ltd 25,875
Australia 10
INVESCO ADR Portfolio 455 COMMON STOCK 50
OTHER TRANS. SERVICES 165
Australia 800
Mayne Nickless Ltd 16,200
Australia 10
INVESCO ADR Portfolio 455 COMMON STOCK 50
OIL & GAS 100
Belgium 1.1% 800
Petrofina SA 23,900
Belgium 10
INVESCO ADR Portfolio 455 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
Chile 1.0% 800
Compania Cervecerias Unidas SA 21,300
*
Chile 10
INVESCO ADR Portfolio 455 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
Denmark 2.3% 1,800
Novo-Nordisk AS 48,375
Denmark 10
INVESCO ADR Portfolio 455 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
France 9.1% 1,000
LVMH Moet Hennessy Louis Vuitton Inc 36,250
France 10
INVESCO ADR Portfolio 455 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
France 1,500
Groupe Danone 49,875
France 10
INVESCO ADR Portfolio 455 COMMON STOCK 50
OIL & GAS 100
France 2,000
Total Compagnie Francaise des Petroles 60,500
France 10
INVESCO ADR Portfolio 455 COMMON STOCK 50
SECURITIES & COMMODITIE 145
France 2,000
Societe Generale Paris 46,250
France 10
INVESCO ADR Portfolio 455 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
Germany 4.7% 900
BASF AG 37,800
Germany 10
INVESCO ADR Portfolio 455 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
Germany 2,500
Bayer AG 61,563
Germany 10
INVESCO ADR Portfolio 455 COMMON STOCK 50
AIR 160
Hong Kong 4.8% 5,000
Swire Pacific Ltd 37,500
Hong Kong 10
INVESCO ADR Portfolio 455 COMMON STOCK 50
CONSUMER SERVICES 211
Hong Kong 8,000
South China Morning Post 23,200
Hong Kong 10
INVESCO ADR Portfolio 455 COMMON STOCK 50
REAL ESTATE 150
Hong Kong 2,000
Hang Lung Development 15,750
Hong Kong 10
INVESCO ADR Portfolio 455 COMMON STOCK 50
REAL ESTATE 150
Hong Kong 1,600
Wharf Holdings Ltd 26,000
Hong Kong 10
INVESCO ADR Portfolio 455 COMMON STOCK 50
CONSTRUCTION 203
Japan 19.7% 400
Sekisui Homes Ltd 48,384
Japan 10
INVESCO ADR Portfolio 455 COMMON STOCK 50
CREDIT INSTITUTIONS 125
Japan 1,200
Toyota Motor Credit Corp 47,700
Japan 10
INVESCO ADR Portfolio 455 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
Japan 1,200
Fuji Photo Film Company Ltd 57,000
Japan 10
INVESCO ADR Portfolio 455 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
Japan 300
Matsushita Electric Industrial Company 46,500
Japan 10
INVESCO ADR Portfolio 455 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
Japan 600
Hitachi Ltd 60,150
Japan 10
INVESCO ADR Portfolio 455 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
Japan 900
TDK Corp 40,950
Japan 10
INVESCO ADR Portfolio 455 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
Japan 500
Konica Corp 30,416
Japan 10
INVESCO ADR Portfolio 455 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
Japan 400
Kirin Brewery Company Ltd 42,800
Japan 10
INVESCO ADR Portfolio 455 COMMON STOCK 50
RETAIL TRADE 207
Japan 1,500
Marui Ltd 45,449
Japan 10
INVESCO ADR Portfolio 455 COMMON STOCK 50
TELEPHONE 85
Mexico 0.8% 600
Telefonos de Mexico SA 17,775
Mexico 10
INVESCO ADR Portfolio 455 COMMON STOCK 50
FOREIGN BANKS 130
Netherlands 14.0% 2,057
ABN Amro Holding NV 78,678
*
Netherlands 10
INVESCO ADR Portfolio 455 COMMON STOCK 50
INSURANCE 135
Netherlands 2,000
Aegon NV 69,750
Netherlands 10
INVESCO ADR Portfolio 455 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
Netherlands 2,000
Elsevier NV 47,250
Netherlands 10
INVESCO ADR Portfolio 455 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
Netherlands 600
Unilever NV 78,075
Netherlands 10
INVESCO ADR Portfolio 455 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
Netherlands 400
Akzo Nobel NV 23,950
Netherlands 10
INVESCO ADR Portfolio 455 COMMON STOCK 50
FOREIGN BANKS 130
Singapore 2.8% 450
Development Bank of Singapore Ltd 20,138
Singapore 10
INVESCO ADR Portfolio 455 COMMON STOCK 50
WHOLESALE TRADE - INDL 197
Singapore 12,000
Inchcape Berhad 39,516
Singapore 10
INVESCO ADR Portfolio 455 COMMON STOCK 50
ELECTRIC
75
Spain 5.9% 500
Empresa Nacional de Electricidad 24,625
Spain 10
INVESCO ADR Portfolio 455 COMMON STOCK 50
FOREIGN BANKS 130
Spain 800
Banco Santander SA 31,500
Spain 10
INVESCO ADR Portfolio 455 COMMON STOCK 50
OIL & GAS 100
Spain 1,000
Repsol SA 31,625
Spain 10
INVESCO ADR Portfolio 455 COMMON STOCK 50
TELEPHONE
85
Spain 1,000
Telefonica de Espana SA 38,750
Spain 10
INVESCO ADR Portfolio 455 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
Switzerland 7.2% 1,200
Nestle SA 62,100
Switzerland 10
INVESCO ADR Portfolio 455 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
Switzerland 1,600
Sandoz AG 54,800
Switzerland 10
INVESCO ADR Portfolio 455 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
Switzerland 1,000
Ciba-Geigy AG 36,500
Switzerland 10
INVESCO ADR Portfolio 455 COMMON STOCK 50
CONSUMER SERVICES 211
United Kingdom 18.1% 9,000
Unigate PLC 58,194
*
United Kingdom 10
INVESCO ADR Portfolio 455 COMMON STOCK 50
ELECTRIC
75
United Kingdom 1,500
National Power PLC 44,438
United Kingdom 10
INVESCO ADR Portfolio 455 COMMON STOCK 50
ELECTRIC
75
United Kingdom 1,200
Southern Electric PLC 24,401
United Kingdom 10
INVESCO ADR Portfolio 455 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
United Kingdom 4,000
Associated British Foods Ltd 42,256
United Kingdom 10
INVESCO ADR Portfolio 455 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
United Kingdom 2,000
Glaxo Wellcome PLC 48,750
United Kingdom 10
INVESCO ADR Portfolio 455 COMMON STOCK 50
OIL & GAS 100
United Kingdom 900
The Shell Transport and Trading Co PLC 65,13
8
United Kingdom 10
INVESCO ADR Portfolio 455 COMMON STOCK 50
OIL & GAS 100
United Kingdom 800
Burmah Castrol PLC 23,300
United Kingdom 10
INVESCO ADR Portfolio 455 COMMON STOCK 50
RETAIL TRADE 207
United Kingdom 5,000
Tesco PLC 22,795
United Kingdom 10
INVESCO ADR Portfolio 455 COMMON STOCK 50
RETAIL TRADE 207
United Kingdom 1,400
Kingfisher PLC 18,726
United Kingdom 10
INVESCO ADR Portfolio 455 COMMON STOCK 50
TELEPHONE
85
United Kingdom 600
British Telecom PLC 37,650 2,126,367 2,050,919
2,126,367 2,050,919 United Kingdom
10
INVESCO Small-Cap Growth Po 450 COMMON STOCK 50
75.9%COMMUNICATIONS 190 1.9%
2,200 Evergreen Media Corp 57,200
*
11
INVESCO Small-Cap Growth Po 450 COMMON STOCK 50
CONSUMER SERVICES 211
3.6%
3,000 Continental Medical Systems Inc 28,875
*
11
INVESCO Small-Cap Growth Po 450 COMMON STOCK 50
CONSUMER SERVICES 211
2,000
Carmike Cinemas Inc 48,500 *
11
INVESCO Small-Cap Growth Po 450 COMMON STOCK 50
CONSUMER SERVICES 211
1,600
MedPartners Inc 30,800 *
11
INVESCO Small-Cap Growth Po 450 COMMON STOCK 50
CREDIT INSTITUTIONS 125
4.2%
3,000 The Foothill Group Inc 76,500
11
INVESCO Small-Cap Growth Po 450 COMMON STOCK 50
CREDIT INSTITUTIONS 125
1,000 Zions Bancorp 50,000
11
INVESCO Small-Cap Growth Po 450 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
16.7% 1,309 Storage Technology Corp
32,234 *
11
INVESCO Small-Cap Growth Po 450 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
3,000 Elsag Bailey Process Automation NV 82,500
*
11
INVESCO Small-Cap Growth Po 450 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
5,250 Tracor Inc 71,531
*
11
INVESCO Small-Cap Growth Po 450 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
1,600 Semitool Inc 51,200
*
11
INVESCO Small-Cap Growth Po 450 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
2,000 NexGen Inc 47,250
*
11
INVESCO Small-Cap Growth Po 450 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
1,500 Credence Systems Corp 45,375
*
11
INVESCO Small-Cap Growth Po 450 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
1,000 Aspect Telecommunications Corp 44,750
*
11
INVESCO Small-Cap Growth Po 450 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
2,500 Brooks Automation Inc 44,375
*
11
INVESCO Small-Cap Growth Po 450 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
4,500 Union Switch & Signal Inc 56,529
*
11
INVESCO Small-Cap Growth Po 450 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
500 Zebra Technologies Corp 26,625
*
11
INVESCO Small-Cap Growth Po 450 COMMON STOCK 50
INDUSTRIAL SERVICES 199
18.9% 1,000 American Management Systems
Inc 25,125 *
11
INVESCO Small-Cap Growth Po 450 COMMON STOCK 50
INDUSTRIAL SERVICES 199
2,400 Spectrum Holobyte Inc 34,349
*
11
INVESCO Small-Cap Growth Po 450 COMMON STOCK 50
INDUSTRIAL SERVICES 199
3,500 State of the Art Inc 34,563
*
11
INVESCO Small-Cap Growth Po 450 COMMON STOCK 50
INDUSTRIAL SERVICES 199
1,000 ArcSys Inc 34,000
*
11
INVESCO Small-Cap Growth Po 450 COMMON STOCK 50
INDUSTRIAL SERVICES 199
2,500 Sierra On-Line Inc 62,500
*
11
INVESCO Small-Cap Growth Po 450 COMMON STOCK 50
INDUSTRIAL SERVICES 199
1,000 FTP Software Inc 30,000
*
11
INVESCO Small-Cap Growth Po 450 COMMON STOCK 50
INDUSTRIAL SERVICES 199
500 Shiva Corp 21,625
*
11
INVESCO Small-Cap Growth Po 450 COMMON STOCK 50
INDUSTRIAL SERVICES 199
3,300 Structural Dynamics Research Corp 42,692
*
11
INVESCO Small-Cap Growth Po 450 COMMON STOCK 50
INDUSTRIAL SERVICES 199
1,000 Synopsys Inc 62,625
*
11
INVESCO Small-Cap Growth Po 450 COMMON STOCK 50
INDUSTRIAL SERVICES 199
2,000 Avid Technology Inc 75,000
*
11
INVESCO Small-Cap Growth Po 450 COMMON STOCK 50
INDUSTRIAL SERVICES 199
3,500 Broadway & Seymour Inc 72,625
*
11
INVESCO Small-Cap Growth Po 450 COMMON STOCK 50
INDUSTRIAL SERVICES 199
2,000 Diamond Multimedia Systems 41,000
*
11
INVESCO Small-Cap Growth Po 450 COMMON STOCK 50
INDUSTRIAL SERVICES 199
1,200 Cycare Systems Inc 32,700
*
11
INVESCO Small-Cap Growth Po 450 COMMON STOCK 50
INSURANCE 135
4.8%
1,500 Transnational RE Corp 30,093
*
11
INVESCO Small-Cap Growth Po 450 COMMON STOCK 50
INSURANCE 135
2,000 Allied Life Financial Corp 34,498
11
INVESCO Small-Cap Growth Po 450 COMMON STOCK 50
INSURANCE 135
1,500 PXRE Corp 35,250
11
INVESCO Small-Cap Growth Po 450 COMMON STOCK 50
INSURANCE 135
1,000 Allmerica Property & Casualty Companie 22,125
11
INVESCO Small-Cap Growth Po 450 COMMON STOCK 50
INSURANCE 135
1,150 MMI Companies Inc 22,569
11
INVESCO Small-Cap Growth Po 450 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
4.3%
3,000 Celestial Seasonings Inc 54,000
*
11
INVESCO Small-Cap Growth Po 450 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
3,000 WLR Foods Inc 43,125
11
INVESCO Small-Cap Growth Po 450 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
3,000 Image Industries Inc 33,000
*
11
INVESCO Small-Cap Growth Po 450 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
8.3%
2,500 Wolverine Tube Inc 80,313
*
11
INVESCO Small-Cap Growth Po 450 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
2,200 Easco Inc 26,950
*
11
INVESCO Small-Cap Growth Po 450 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,200 AVECOR Cardiovascular Inc 16,350
*
O11
INVESCO Small-Cap Growth Po 450 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
2,250 Sturm Ruger Company Inc 73,406
11
INVESCO Small-Cap Growth Po 450 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
6,500 Uromed Corp 52,813
*
11
INVESCO Small-Cap Growth Po 450 COMMON STOCK 50
OIL & GAS 100
1.7%
2,000 Plains Resources Inc 17,500
*
11
INVESCO Small-Cap Growth Po 450 COMMON STOCK 50
OIL & GAS 100
1,500 Global Industries Ltd 33,375
*
11
INVESCO Small-Cap Growth Po 450 COMMON STOCK 50
RETAIL TRADE 207
8.2%
2,700 Apple South Inc 52,650
11
INVESCO Small-Cap Growth Po 450 COMMON STOCK 50
RETAIL TRADE 207
1,100 Rock Bottom Restaurants Inc 32,175
*
11
INVESCO Small-Cap Growth Po 450 COMMON STOCK 50
RETAIL TRADE 207
2,000 Hannaford Brothers Co 57,000
11
INVESCO Small-Cap Growth Po 450 COMMON STOCK 50
RETAIL TRADE 207
2,000 Sunglass Hut International Inc 70,000
*
11
INVESCO Small-Cap Growth Po 450 COMMON STOCK 50
RETAIL TRADE 207
3,675 Pier 1 Imports Inc 33,994
11
INVESCO Small-Cap Growth Po 450 COMMON STOCK 50
TELEPHONE 85
1.6%
3,000 Lincoln Telecommunications Co 47,250
11
INVESCO Small-Cap Growth Po 450 COMMON STOCK 50
TRANSPORTATION EQUIPMEN 170
1.9%
4,000 Cannondale Corp 56,000 2,287,484
2,066,654 *
11
INVESCO Small-Cap Growth Po 450 SHORT-TERM INVESTMENT 10
24.1%CREDIT INSTITUTIONS 125 12.6%
140,000 American Express Credit Corp 139,159
11
INVESCO Small-Cap Growth Po 450 SHORT-TERM INVESTMENT 10
CREDIT INSTITUTIONS 125
242,000 Ford Motor Credit Co 240,863
11
INVESCO Small-Cap Growth Po 450 SHORT-TERM INVESTMENT 10
SECURITIES & COMMODITIE 145
11.5%
140,000 Merrill Lynch & Company Inc 139,213
11
INVESCO Small-Cap Growth Po 450 SHORT-TERM INVESTMENT 10
SECURITIES & COMMODITIE 145
209,000 Prudential Funding Corp 208,103 727,338
727,338 3,014,822 2,793,992
11
Small-Cap Index Portfolio 400 COMMON STOCK 50
96.7%AGRICULTURE 115 0.5%
2,400 Terra Industries Inc 29,100
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
AGRICULTURE 115
700 Tejon Ranch Co 9,713
O
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
AGRICULTURE 115
400 Dekalb Genetics Corp 17,600
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
AGRICULTURE 115
1,650 Agco Corp 61,875
O
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
AGRICULTURE 115
300 Alico Inc 5,325 O
O
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
AGRICULTURE 115
1,100 Barefoot Inc 15,263
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
AGRICULTURE 115
600 Delta & Pine Land Co 17,400
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
AGRICULTURE 115
1,100 Mycogen Corp 9,075
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
AIR 160
0.8%
3,380 America West Airlines Inc 40,983
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
AIR 160
900 Alaska Air Group Inc 16,538
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
AIR 160
1,500 Offshore Logistics Inc 21,000
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
AIR 160
2,500 Mesa Airlines Inc 22,813
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
AIR 160
1,150 Air Express International Corp 27,025
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
AIR 160
1,200 Continental Airlines Inc 30,150
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
AIR 160
1,100 Tower Air Corp 9,075
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
AIR 160
1,200 Comair Holdings Inc 45,450
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
AIR 160
500 Pittston Services Group 4,938
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
AIR 160
500 Skywest Inc 11,313
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
AIR 160
200 Amtran Inc 2,250
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
AIR 160
4,500 U S Air Group Inc 52,313
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
COMMUNICATIONS 190
2.2%
1,500 Renaissance Communications Corp 50,250
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
COMMUNICATIONS 190
500 E Z Communications Inc 9,250
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
COMMUNICATIONS 190
400 Adelphia Communications Corp 3,500
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
COMMUNICATIONS 190
700 Silver King Communications Inc 11,375
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
COMMUNICATIONS 190
1,100 TCA Cable TV Inc 29,700
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
COMMUNICATIONS 190
1,200 Westcott Communications Inc 21,300
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
COMMUNICATIONS 190
400 Metrocall Inc 7,300
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
COMMUNICATIONS 190
1,421 Jones Intercable Inc 21,670
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
COMMUNICATIONS 190
100 Emmis Broadcasting Corp 2,725
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
COMMUNICATIONS 190
600 BET Holdings Inc 10,950
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
COMMUNICATIONS 190
700 Cellular Communications International 26,775
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
COMMUNICATIONS 190
400 Nationwide Cellular Service Inc 10,525
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
COMMUNICATIONS 190
300 Centennial Cellular Co 5,025
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
COMMUNICATIONS 190
400 Cellstar Corp 9,350
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
COMMUNICATIONS 190
700 Cellular Communications Inc 21,438
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
COMMUNICATIONS 190
300 United Television Inc 21,300
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
COMMUNICATIONS 190
900 Commnet Cellular Corp 25,200
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
COMMUNICATIONS 190
750 Clear Channel Communications Inc 48,281
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
COMMUNICATIONS 190
1,000 Peoples Telephone Company Inc 4,187
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
COMMUNICATIONS 190
2,100 DMX Inc 5,315
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
COMMUNICATIONS 190
700 Image Entertainment Inc 4,593
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
COMMUNICATIONS 190
400 United Video Satellite Group Inc 11,700
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
COMMUNICATIONS 190
300 American Paging Inc 2,025
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
COMMUNICATIONS 190
1,400 Onecomm Corp 21,000
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
COMMUNICATIONS 190
400 Atlantic Tele-Network Inc 3,250
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
COMMUNICATIONS 190
1,500 NTN Communications Inc 7,688
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
COMMUNICATIONS 190
1,000 U S Long Distance Corp 16,250
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
COMMUNICATIONS 190
700 American Mobil Satellite Corporation I 18,375
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
COMMUNICATIONS 190
1,800 General Communication Inc 7,200
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
COMMUNICATIONS 190
700 ACS Enterprises Inc 12,775
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
COMMUNICATIONS 190
1,100 American Telecasting Inc 13,750
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
COMMUNICATIONS 190
500 Jacor Communications Inc 8,000
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
COMMUNICATIONS 190
300 Xpedite Systems Inc 4,200
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
COMMUNICATIONS 190
3,600 Mobile Telecommunications Technologies 98,550
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
COMMUNICATIONS 190
600 CAI Wireless Systems Inc 6,900
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
COMMUNICATIONS 190
400 Dial Page Inc 5,850
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
COMMUNICATIONS 190
1,500 International Family Entertainment Inc 23,625
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
COMMUNICATIONS 190
500 Evergreen Media Corp 13,000
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
COMMUNICATIONS 190
1,200 Telular Corp 20,700
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
COMMUNICATIONS 190
1,700 United International Holdings Inc 28,475
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
COMMUNICATIONS 190
1,400 C-Tec Corp 35,175
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
COMMUNICATIONS 190
600 Arch Communications Group Inc 13,350
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
COMMUNICATIONS 190
1,050 Citicasters Inc 28,875
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
COMMUNICATIONS 190
1,200 Picturetel Corp 57,750
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
COMMUNICATIONS 190
200 Preferred Entertainment Inc 3,275
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
COMMUNICATIONS 190
400 ACC Corp 5,900
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSTRUCTION 203
1.2% 400 Schuler Homes Inc
4,900 *
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSTRUCTION 203
2,200 Lennar Corp 41,250
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSTRUCTION 203
1,900 Standard Pacific Corp 13,063
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSTRUCTION 203
2,500 Morrison Knudsen Corp 16,875
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSTRUCTION 203
200 Southern Energy Homes Inc 2,800
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSTRUCTION 203
2,200 Kaufman & Broad Home Corp 31,900
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSTRUCTION 203
300 Applied Digital Access Inc 3,900
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSTRUCTION 203
1,800 Manufactured Home Communities Co 27,675
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSTRUCTION 203
800 Apogee Enterprises Inc 14,200
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSTRUCTION 203
442 D R Horton Inc 5,912
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSTRUCTION 203
500 Granite Construction Inc 11,125
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSTRUCTION 203
900 Bay Apartment Communities Inc 17,550
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSTRUCTION 203
300 Continental Homes Holding Corp 5,213
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSTRUCTION 203
500 Insituform Mid America Inc 7,250
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSTRUCTION 203
1,200 The Ryland Group Inc 19,350
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSTRUCTION 203
700 M/I Schottenstein Homes Inc 6,125
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSTRUCTION 203
1,400 Pulte Corp 39,200
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSTRUCTION 203
600 Louis Dreyfus Natural Gas Co 8,850
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSTRUCTION 203
2,700 Kenetech Corp 31,725
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSTRUCTION 203
500 Redman Industries Inc 10,875
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSTRUCTION 203
800 U S Home Corp 18,400
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSTRUCTION 203
1,400 Toll Brothers Inc 22,575
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSTRUCTION 203
900 Acme Metals Inc 14,175
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSTRUCTION 203
900 Insituform Technologies Inc 11,925
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSTRUCTION 203
1,000 NVR Inc 7,312
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSTRUCTION 203
1,200 Hovnanian Enterprises Inc 6,974
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSTRUCTION 203
1,200 Oasis Residential Inc 26,100
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSTRUCTION 203
1,300 MDC Holdings Inc 8,125
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSUMER SERVICES 211
6.0% 1,000 Devry Inc
20,000 *
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSUMER SERVICES 211
2,100 Prime Hospitality Corp 20,738
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSUMER SERVICES 211
500 Video Lottery Technologies Inc 3,250
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSUMER SERVICES 211
1,000 Rio Hotel & Casino Inc 13,750
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSUMER SERVICES 211
2,100 Hillhaven Corp 59,325
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSUMER SERVICES 211
200 Vitalink Pharmacy Services Inc 3,350
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSUMER SERVICES 211
100 Roto-Rooter Inc 2,725
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSUMER SERVICES 211
1,300 American Studios Inc 2,925
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSUMER SERVICES 211
1,209 Benson Eyecare Corp 12,241
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSUMER SERVICES 211
1,000 Datascope Corp 17,250
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSUMER SERVICES 211
1,500 Integrated Health Services Inc 45,000
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSUMER SERVICES 211
2,300 Surgical Care Affiliates Inc 43,988
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSUMER SERVICES 211
700 Jackpot Enterprises Inc 7,088
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSUMER SERVICES 211
300 Seafield Capital Corp 10,950
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSUMER SERVICES 211
900 Interim Services Inc 22,500
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSUMER SERVICES 211
400 Healthwise America Inc 10,200
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSUMER SERVICES 211
200 Churchill Downs Inc 8,600
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSUMER SERVICES 211
600 Interpool Inc 8,175
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSUMER SERVICES 211
1,100 Unifirst Corp 14,850
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSUMER SERVICES 211
200 Res-Care Inc 3,350
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSUMER SERVICES 211
500 Anchor Gaming Co 11,125
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSUMER SERVICES 211
800 Diagnostic Products Corp 29,200
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSUMER SERVICES 211
1,400 Omnicare Inc 37,975
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSUMER SERVICES 211
600 Rotech Medical Corp 16,650
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSUMER SERVICES 211
2,900 Aztar Corp 26,825
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSUMER SERVICES 211
800 American Medical Response Inc 22,400
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSUMER SERVICES 211
2,900 Continental Medical Systems Inc 27,913
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSUMER SERVICES 211
500 Hollywood Casino Corp 4,438
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSUMER SERVICES 211
1,550 Phycor Inc 54,444
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSUMER SERVICES 211
400 United American Healthcare Corp 7,000
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSUMER SERVICES 211
1,000 Storage USA Inc 28,375
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSUMER SERVICES 211
700 Grancare Inc 11,288
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSUMER SERVICES 211
900 Regency Health Services Inc 9,450
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSUMER SERVICES 211
1,000 Healthdyne Inc 4,250
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSUMER SERVICES 211
200 Ameristar Casinos Inc 1,775
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSUMER SERVICES 211
500 Health Management Inc 5,375
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSUMER SERVICES 211
1,100 Genesis Health Ventures Inc 32,588
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSUMER SERVICES 211
1,800 Diagnostek Inc 28,800
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSUMER SERVICES 211
1,500 G & K Services Inc 29,250
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSUMER SERVICES 211
1,000 Homedco Group Inc 51,250
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSUMER SERVICES 211
550 Regal Cinemas Inc 17,600
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSUMER SERVICES 211
300 Mikohn Gaming Corp 1,613
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSUMER SERVICES 211
1,000 Universal Health Services Inc 29,000
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSUMER SERVICES 211
300 Lottery Enterprises Inc 413
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSUMER SERVICES 211
1,500 Spelling Entertainment Group Inc 14,625
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSUMER SERVICES 211
1,000 Showboat Inc 18,500
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSUMER SERVICES 211
500 Education Alternatives Inc 6,125
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSUMER SERVICES 211
700 Boomtown Inc 8,400
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSUMER SERVICES 211
200 Summit Care Corp 3,650
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSUMER SERVICES 211
1,200 Quantum Health Resources Inc 19,800
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSUMER SERVICES 211
500 Evergreen Healthcare Inc 6,188
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSUMER SERVICES 211
2,400 Eckerd Corp 76,800
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSUMER SERVICES 211
700 Ren Corp-USA 11,113
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSUMER SERVICES 211
1,400 Casino Magic Corp 7,787
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSUMER SERVICES 211
600 The Marcus Corp 18,150
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSUMER SERVICES 211
1,365 Enzo Biochem Inc 15,527
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSUMER SERVICES 211
1,000 Living Centers of America Inc 27,125
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSUMER SERVICES 211
200 Lab One Inc 2,900
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSUMER SERVICES 211
433 Sholodge Inc 6,441
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSUMER SERVICES 211
3,500 Bally Entertainment Corp 42,875
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSUMER SERVICES 211
1,000 KinderCare Learning Centers Inc 13,500
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSUMER SERVICES 211
1,000 Lady Luck Gaming Corp 1,625
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSUMER SERVICES 211
1,900 Stewart Enterprises Inc 63,650
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSUMER SERVICES 211
400 Harveys Casino Resorts 7,600
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSUMER SERVICES 211
1,700 Vivra Inc 46,113
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSUMER SERVICES 211
2,200 Savoy Pictures Entertainment Inc 20,075
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSUMER SERVICES 211
2,200 National Education Corp 12,100
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSUMER SERVICES 211
800 National Auto Credit Inc 10,700
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSUMER SERVICES 211
800 Casino America Inc 12,100
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSUMER SERVICES 211
800 Sierra Health Services Inc 19,600
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSUMER SERVICES 211
500 Multicare Companies Inc 8,688
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSUMER SERVICES 211
1,300 Community Health Systems Inc 44,038
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSUMER SERVICES 211
1,700 Acuson Corp 20,613
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSUMER SERVICES 211
700 Renal Treatment Centers Inc 17,238
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSUMER SERVICES 211
900 Puritan-Bennett Corp 34,763
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSUMER SERVICES 211
900 Coastal Physician Group Inc 11,588
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSUMER SERVICES 211
600 Fusion Systems Corp 20,550
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSUMER SERVICES 211
700 Craig Jenny Inc 5,775
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSUMER SERVICES 211
400 GC Companies Inc 13,100
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSUMER SERVICES 211
1,000 CPI Corp 19,125
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSUMER SERVICES 211
800 Argosy Gaming Corp 10,200
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSUMER SERVICES 211
400 Regis Corp 7,700
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSUMER SERVICES 211
1,300 Grand Casinos Inc 45,988
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSUMER SERVICES 211
1,000 Hollywood Park Inc 12,750
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSUMER SERVICES 211
1,900 Coventry Corp 26,838
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSUMER SERVICES 211
2,050 Players International Inc 41,000
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSUMER SERVICES 211
1,028 Sun Healthcare Group Inc 16,191
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSUMER SERVICES 211
1,200 Nellcor Inc 54,000
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSUMER SERVICES 211
300 Advantage Health Corp 7,950
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSUMER SERVICES 211
800 National Golf Properties Inc 16,800
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSUMER SERVICES 211
1,500 Mariner Health Group Inc 16,875
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSUMER SERVICES 211
2,100 Charter Medical Corp 34,125
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSUMER SERVICES 211
73 Allergan Ligand Retinoid Therapeutics 0
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSUMER SERVICES 211
1,200 Station Casinos Inc 20,700
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSUMER SERVICES 211
1,000 Starsight Telecast Inc 5,500
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSUMER SERVICES 211
800 Horizon Outlet Centers Inc 18,600
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSUMER SERVICES 211
500 Peoples Choice Television Corp 12,563
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSUMER SERVICES 211
3,000 Rollins Truck Leasing Corp 32,250
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSUMER SERVICES 211
425 Monro Muffler/Brake Inc 6,163
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSUMER SERVICES 211
2,200 Horizon Healthcare 39,325
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSUMER SERVICES 211
800 Alpha Hospitality Corp 2,200
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSUMER SERVICES 211
1,500 Orion Pictures Corp 11,813
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSUMER SERVICES 211
1,800 Vencor Inc 56,700
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSUMER SERVICES 211
200 Berlitz International Inc 2,950
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSUMER SERVICES 211
200 AMC Entertainment Inc 2,875
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSUMER SERVICES 211
700 Angelica Corp 17,500
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSUMER SERVICES 211
1,000 Lincare Holding Inc 26,562
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSUMER SERVICES 211
900 Abbey Healthcare Group Inc 32,175
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSUMER SERVICES 211
600 Human Genome Sciences Inc 10,050
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSUMER SERVICES 211
2,300 Westwood One Inc 33,638
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSUMER SERVICES 211
900 Envirotest Systems Corp 4,388
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSUMER SERVICES 211
1,500 President Casinos Inc 6,938
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSUMER SERVICES 211
700 Carmike Cinemas Inc 16,975
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSUMER SERVICES 211
3,300 Community Psychiatric Centers 37,125
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CONSUMER SERVICES 211
1,100 Response Technologies Inc 2,200
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CREDIT INSTITUTIONS 125
6.6% 3,026 Union Planters Corp
80,946
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CREDIT INSTITUTIONS 125
300 Markel Corp 16,725
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CREDIT INSTITUTIONS 125
400 Liberty Bancorp Inc 12,900
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CREDIT INSTITUTIONS 125
350 The Money Store Inc 12,534
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CREDIT INSTITUTIONS 125
320 CVB Financial Corp 4,080
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CREDIT INSTITUTIONS 125
600 U S Trust Corp 43,200
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CREDIT INSTITUTIONS 125
305 BT Financial Corp 9,608
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CREDIT INSTITUTIONS 125
600 California Bancshares 12,600
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CREDIT INSTITUTIONS 125
900 Health Care Reit Inc 18,563
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CREDIT INSTITUTIONS 125
1,700 First Commonwealth Financial Corp 25,713
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CREDIT INSTITUTIONS 125
625 Westcorp Inc 9,766
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CREDIT INSTITUTIONS 125
2,200 First Financial Corp 38,500
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CREDIT INSTITUTIONS 125
1,650 First Commercial Corp 42,075
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CREDIT INSTITUTIONS 125
3,100 Glendale Federal Bank 38,750
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CREDIT INSTITUTIONS 125
635 Imperial Bancorp 12,224
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CREDIT INSTITUTIONS 125
1,100 United Carolina Bancshares Corp 33,825
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CREDIT INSTITUTIONS 125
300 Coastal Bancorp Inc 4,875
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CREDIT INSTITUTIONS 125
900 United Bankshares Inc 23,625
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CREDIT INSTITUTIONS 125
428 Western Bank 5,029
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CREDIT INSTITUTIONS 125
800 Mercer International Inc 16,800
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CREDIT INSTITUTIONS 125
1,500 Lomas Financial Corp 843
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CREDIT INSTITUTIONS 125
2,100 Magna Group Inc 46,200
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CREDIT INSTITUTIONS 125
1,040 UMB Financial Corp 37,960
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CREDIT INSTITUTIONS 125
800 Cullen/Frost Bankers Inc 32,400
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CREDIT INSTITUTIONS 125
600 First Citizens Bancshares Inc 29,700
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CREDIT INSTITUTIONS 125
800 Capsure Holdings Corp 11,200
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CREDIT INSTITUTIONS 125
800 American Federal Bank 11,000
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CREDIT INSTITUTIONS 125
3,700 California Federal Bank 48,563
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CREDIT INSTITUTIONS 125
1,800 Concord EFS Inc 48,150
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CREDIT INSTITUTIONS 125
400 CBT Corp 8,100
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CREDIT INSTITUTIONS 125
1,100 Credit Acceptance Corp 22,550
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CREDIT INSTITUTIONS 125
1,348 First Michigan Bank Corp 33,363
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CREDIT INSTITUTIONS 125
420 First Financial Corporation-Indiana 12,600
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CREDIT INSTITUTIONS 125
600 Wesbanco Inc 15,450
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CREDIT INSTITUTIONS 125
300 Intercontinental Bank 8,588
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CREDIT INSTITUTIONS 125
800 Citizens Bancorp 23,400
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CREDIT INSTITUTIONS 125
1,000 Colonial Bancgroup Inc 27,500
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CREDIT INSTITUTIONS 125
200 Tompkins County Trust Co 6,850
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CREDIT INSTITUTIONS 125
941 First Financial Bancorp 31,994
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CREDIT INSTITUTIONS 125
1,150 Trustco Bank Corp NY 25,013
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CREDIT INSTITUTIONS 125
800 Trans Financial Bancorp Inc 12,200
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CREDIT INSTITUTIONS 125
825 Commerce Bancorp Inc 15,984
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CREDIT INSTITUTIONS 125
400 Homeland Bankshares Corp 9,600
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CREDIT INSTITUTIONS 125
2,800 City National Corp 31,850
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CREDIT INSTITUTIONS 125
1,000 Commercial Federal Corp 27,250
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CREDIT INSTITUTIONS 125
300 Columbia First Bank 17,213
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CREDIT INSTITUTIONS 125
700 Firstfed Financial Corp 10,238
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CREDIT INSTITUTIONS 125
1,200 The Trust Company of New Jersey 16,050
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CREDIT INSTITUTIONS 125
1,000 Greater New York Savings Bank 9,250
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CREDIT INSTITUTIONS 125
750 Hubco Inc 13,406
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CREDIT INSTITUTIONS 125
800 Susquehanna Bancshares Inc 18,800
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CREDIT INSTITUTIONS 125
420 York Financial Corp 7,140
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CREDIT INSTITUTIONS 125
300 River Forest Bancorp 12,150
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CREDIT INSTITUTIONS 125
1,800 North Fork Bancorporation Inc 32,625
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CREDIT INSTITUTIONS 125
1,350 St Paul Bancorp Inc 30,206
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CREDIT INSTITUTIONS 125
300 Student Loan Corp 8,063
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CREDIT INSTITUTIONS 125
550 Pikeville National Corp 11,413
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CREDIT INSTITUTIONS 125
1,500 Riggs National Corp 14,813
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CREDIT INSTITUTIONS 125
509 Mid-America Bancorp 8,589
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CREDIT INSTITUTIONS 125
1,050 Whitney Holding Corp 28,088
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CREDIT INSTITUTIONS 125
600 Vallicorp Holdings Inc 9,600
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CREDIT INSTITUTIONS 125
900 Astoria Financial Corp 32,175
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CREDIT INSTITUTIONS 125
500 World Acceptance Corp 16,750
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CREDIT INSTITUTIONS 125
1,321 TCF Financial Corp 62,748
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CREDIT INSTITUTIONS 125
2,500 Premier Bancorp Inc 45,000
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CREDIT INSTITUTIONS 125
500 First Federal Savings Bank of Colorado 11,750
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CREDIT INSTITUTIONS 125
1,000 CRI Liquidating Reit Inc 3,500
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CREDIT INSTITUTIONS 125
900 Centerbank 13,050
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CREDIT INSTITUTIONS 125
400 Victoria Bankshares Inc 10,300
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CREDIT INSTITUTIONS 125
700 FirstBank Illinois Co 18,900
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CREDIT INSTITUTIONS 125
1,150 FirstBank Puerto Rico 20,700
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CREDIT INSTITUTIONS 125
1,500 Deposit Guaranty Corp 58,500
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CREDIT INSTITUTIONS 125
1,500 Collective Bancorp Inc 30,375
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CREDIT INSTITUTIONS 125
1,100 North American Mortgage Co 25,438
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CREDIT INSTITUTIONS 125
1,057 Resource Bancshares Mortgage Group Inc 13,477
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CREDIT INSTITUTIONS 125
1,000 Albank Financial Corp 26,125
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CREDIT INSTITUTIONS 125
400 American Savings of Florida 8,350
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CREDIT INSTITUTIONS 125
1,100 Zions Bancorp 55,000
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CREDIT INSTITUTIONS 125
1,200 FirstFed Michigan Corp 33,600
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CREDIT INSTITUTIONS 125
2,300 FirstMerit Corp 60,375
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CREDIT INSTITUTIONS 125
415 North Side Savings Bank 10,271
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CREDIT INSTITUTIONS 125
1,050 Firstier Financial Inc 38,588
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CREDIT INSTITUTIONS 125
900 Mark Twain Bancshares Inc 29,025
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CREDIT INSTITUTIONS 125
500 Bay View Capital Corp 13,625
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CREDIT INSTITUTIONS 125
200 Sumitomo Bank of California 4,850
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CREDIT INSTITUTIONS 125
500 American Annuity Group Inc 4,938
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CREDIT INSTITUTIONS 125
200 Bank of New Hampshire Corp 5,300
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CREDIT INSTITUTIONS 125
425 Bank of Granite Corp 11,475
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CREDIT INSTITUTIONS 125
400 Imperial Credit Industries Inc 4,950
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CREDIT INSTITUTIONS 125
600 WestAmerica Bancorp 22,200
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CREDIT INSTITUTIONS 125
1,865 Home Financial Corp 26,576
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CREDIT INSTITUTIONS 125
1,700 Charter One Financial Inc 41,650
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CREDIT INSTITUTIONS 125
400 First Palm Beach Bancorp 8,950
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CREDIT INSTITUTIONS 125
500 Bancfirst Corp 7,625
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CREDIT INSTITUTIONS 125
600 PMC Capital Inc 6,525
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CREDIT INSTITUTIONS 125
900 Baldwin & Lyons Inc 13,950
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CREDIT INSTITUTIONS 125
1,000 Rochester Community Savings Bank 20,000
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CREDIT INSTITUTIONS 125
600 Peoples Bank of Bridgeport 9,900
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CREDIT INSTITUTIONS 125
900 Autofinance Group Inc 14,625
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CREDIT INSTITUTIONS 125
300 Bankers First Corp 8,775
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CREDIT INSTITUTIONS 125
1,125 Associated Banc-Corp 34,172
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CREDIT INSTITUTIONS 125
2,510 Summit Bank Corp 53,338
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CREDIT INSTITUTIONS 125
1,800 Ampal American Israel Corp 11,925
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CREDIT INSTITUTIONS 125
500 NS Bancorp Inc 15,500
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CREDIT INSTITUTIONS 125
200 Harris Savings Bank 3,150
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CREDIT INSTITUTIONS 125
951 New York Bancorp Inc 18,901
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CREDIT INSTITUTIONS 125
300 Anchor Bancorp Wisconsin Inc 9,900
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CREDIT INSTITUTIONS 125
300 National City Bancshares Inc 12,600
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CREDIT INSTITUTIONS 125
300 Park National Corp 14,588
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CREDIT INSTITUTIONS 125
200 Citizens Bancshares Inc 7,150
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CREDIT INSTITUTIONS 125
800 First Midwest Bancorp Inc 19,750
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CREDIT INSTITUTIONS 125
506 First Republic Bancorp Inc 6,452
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CREDIT INSTITUTIONS 125
700 Bell Bancorp Inc 19,775
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CREDIT INSTITUTIONS 125
1,200 The Foothill Group Inc 30,600
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
CREDIT INSTITUTIONS 125
400 Amfed Financial Inc 9,600
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRIC
75 1.8%
1,100 Black Hills Corp 23,100
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRIC
75
1,500 Eastern Utilities Association 33,938
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRIC
75
800 Otter Tail Power Co 27,000
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRIC
75
300 Green Mountain Power Corp 7,538
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRIC
75
500 Bangor Hydro Electric Co 5,125
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRIC
75
1,000 United Illuminating Co 33,000
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRIC
75
1,200 Southern Indiana Gas & Electric Co 38,550
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRIC
75
1,000 Orange & Rockland Utilities Inc 33,750
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRIC
75
800 Commonwealth Energy System Cos 30,200
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRIC
75
800 Energen Corp 17,200
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRIC
75
1,100 Empire District Electric Co 19,113
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRIC
75
1,400 MDU Resources Group Inc 41,650
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRIC
75
700 Interstate Power Co 16,888
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRIC
75
300 St Joseph Light & Power Co 8,475
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRIC
75
2,200 Sierra Pacific Resources 47,850
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRIC
75
800 Madison Gas & Electric Co 25,000
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRIC
75
1,300 Central Hudson Gas & Electric Corp 35,100
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRIC
75
400 Pennsylvania Enterprises Inc 12,400
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRIC
75
2,400 Central Maine Power Co 28,500
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRIC
75
600 Northwestern Public Service Co 15,375
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRIC
75
1,700 Central Louisiana Electric Company Inc 39,950
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRIC
75
3,100 Public Service Company of New Mexico 44,175
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRIC
75
800 TNP Enterprises Inc 12,900
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRIC
75
900 Central Vermont Public Service Corp 12,488
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRIC
75
11,300 Tucson Electric Power Co 35,313
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRIC
75
1,200 Destec Energy Inc 15,450
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
12.9% 1,435 US Robotics Corp
156,415 *
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
1,000 Alliant Techsystems Inc 41,750
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
1,200 Sepracor Inc 16,200
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
300 Stanford Telecommunications Inc 4,425
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
700 Core Industries Inc 7,525
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
600 Evans & Sutherland Computer Corp 9,150
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
2,100 Stratacom Inc 102,375
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
900 Sofamor Danek Group Inc 20,363
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
500 Exar Corp 14,750
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
300 Exide Electricians Group Inc 6,900
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
3,300 Executone Information Systems Inc 9,075
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
800 Spacelabs Inc 20,300
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
900 Valence Technology Inc 3,150
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
1,200 Trimble Navigation Ltd 34,050
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
1,600 Exabyte Corp 22,200
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
600 Electroglas Inc 34,350
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
1,200 Sunrise Medical Inc 37,350
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
1,200 Cor Therapeutics Inc 10,724
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
1,800 Ascend Communications Inc 90,900
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
500 Harmon Industries Inc 8,375
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
1,300 Summit Technology Inc 49,075
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
400 Summa Four Inc 11,300
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
1,100 Antec Corp 18,150
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
2,400 Sequent Computer Systems Inc 42,749
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
3,100 Geotek Industries Inc 26,738
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
400 Arbor Health Care Co 7,700
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
1,050 Credence Systems Corp 31,763
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
700 Unitrode Corp 19,688
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
2,000 Convex Computer Corp 9,000
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
700 Health Management Systems Inc 20,475
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
500 Pittencrieff Communications Inc 2,250
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
400 D H Technology Inc 11,000
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
400 Arrow International Inc 16,900
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
800 Pittway Corp 36,600
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
600 Plantronics Inc 16,050
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
1,100 Actel Corp 14,300
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
1,000 Standard Microsystems Corp 15,500
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
600 EMPI Inc 9,000
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
600 Parcplace Systems Inc 4,800
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
1,400 Zilog Inc 69,825
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
300 Park Electrochemical Corp 15,188
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
300 Clinicom Inc 4,950
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
1,400 Input/Output Inc 50,400
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
1,700 Symbol Technologies Inc 65,238
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
700 Syquest Technology Inc 9,013
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
400 Zoll Medical Corp 5,000
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
400 Opti Inc 9,100
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
500 Watkins Johnson Co 22,250
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
1,100 Cognex Corp 44,275
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
1,400 Atari Corp 3,850
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
1,620 Octel Communications Corp 47,385
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
800 Coherent Inc 23,500
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
700 Collagen Corp 11,988
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
2,000 Ballard Medical Products Co 26,000
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
1,100 Symmetricom Inc 23,925
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
600 Integrated Circuit Systems Inc 8,850
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
400 Safeskin Corp 6,000
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
600 Sanmina Corp 22,800
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
600 Alantec Corp 20,550
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
600 Dovatron International Inc 14,700
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
1,500 Ventritex Inc 25,313
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
500 DSP Group Inc 12,508
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
1,600 First PAC Networks Inc 4,600
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
900 Advanced Technology Laboratories Inc 14,175
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
1,000 Thermedics Inc 19,500
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
2,000 SCI Systems Inc 50,000
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
1,300 IMO Industries Inc 11,700
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
2,000 Allen Group Inc 59,250
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
200 Safety 1st Inc 3,925
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
1,900 Cray Research Inc 46,313
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
1,800 First Alert Inc 26,775
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
500 Centigram Communications Corp 7,125
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
1,060 Baldor Electric Co 30,343
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
1,500 Haemonetics Corp 28,875
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
1,300 Komag Inc 67,600
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
225 Hach Co 3,038
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
1,700 Applied Magnetics Corp 11,900
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
3,100 Read-Rite Corp 82,925
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
800 Resound Corp 6,500
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
300 Franklin Electric Company Inc 9,225
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
1,000 Respironics Inc 14,250
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
600 Steris Corp 29,100
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
300 Rogers Corp 16,613
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
600 Recoton Corp 11,700
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
2,500 Data General Corp 24,063
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
300 Fresenius USA Inc 3,938
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
300 Digital Link Corp 8,475
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
600 Quixote Corp 7,500
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
1,000 Quickturn Design Systems Inc 8,875
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
700 Visx Inc 9,275
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
2,600 Ametek Inc 46,800
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
1,500 General Datacomm Industries Inc 18,750
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
400 Vital Signs Inc 6,900
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
1,000 Digital Microwave Corp 12,625
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
800 Alpha Beta Technology Inc 3,950
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
300 Union Switch & Signal Inc 3,769
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
200 CTS Corp 6,100
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
600 Analogic Corp 10,050
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
600 Cyrix Corp 14,475
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
300 Cubic Corp 6,750
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
1,900 Amsco International Inc 26,363
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
2,100 Unilab Corp 9,975
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
3,000 Cypress Semiconductor Corp 121,500
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
3,500 Anacomp Inc 2,625
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
2,800 VLSI Technology Inc 84,350
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
300 Fluke Corp 12,600
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
1,100 C-Cube Microsystems Inc 29,975
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
1,000 Amtech Corp 6,125
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
600 Applied Innovation Inc 28,650
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
1,300 Alpine Group Inc 6,988
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
500 Dionex Corp 22,875
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
900 Digi International Inc 20,475
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
500 Daig Corp 9,125
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
800 Daniel Industries Inc 12,600
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
1,000 Gulf South Medical Supply Inc 24,000
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
750 Woodhead Industries Inc 10,313
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
1,200 Augat Inc 24,600
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
600 Heart Technology Inc 11,625
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
1,000 Lamson & Sessions Co 5,750
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
1,700 International Rectifier Corp 55,250
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
300 Target Therapeutics Inc 13,200
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
500 Kuhlman Corp 5,625
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
6,100 Noise Cancellation Technologies 3,617
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
1,400 Lattice Semiconductor Corp 48,125
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
800 Aspect Telecommunications Corp 35,800
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
2,200 LCI International Inc 67,375
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
1,200 Network Equipment Technologies Inc 28,500
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
1,100 Data Broadcasting Corp 6,600
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
1,400 Royal Appliance Manufacturing Co 3,850
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
700 Global Village Communication Co 10,938
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
900 Harman International Industries Inc 36,450
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
1,200 Black Box Corp 17,100
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
400 Tech-Sym Corp 10,950
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
1,400 Genrad Inc 10,675
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
1,400 Boston Technology Inc 26,075
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
1,900 Dallas Semiconductor Corp 38,950
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
1,200 Vicor Corp 53,924
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
700 Rival Co 10,325
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
300 Quick Response Services Inc 7,050
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
1,100 Irvine Sensors Corp 8,318
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
500 Bio Rad Labs Inc 18,000
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
400 Cherry Corp 5,500
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
1,000 Checkpoint Systems Inc 22,250
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
1,000 X-Rite Inc 18,500
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
200 Benchmark Electronics Inc 4,925
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
300 Jabil Circuit Inc 2,400
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
800 Cellpro Inc 10,700
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
700 Thomas Industries Inc 11,463
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
500 Joslyn Corp 13,125
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
500 Heartland Wireless Co 11,875
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
700 Pairgain Technologies Inc 13,388
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
1,200 ADAC Laboratories 14,550
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
500 IEC Electronics Corp 3,563
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
800 I-Stat Corp 29,200
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
700 Broadband Technolgies Inc 17,325
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
700 Tracor Inc 9,538
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
600 Holophane Corp 13,200
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
300 Zebra Technologies Corp 15,975
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
40 Winthrop Resources Corp 560
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
300 MTS Systems Corp 8,100
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
1,100 Brooktree Corp 18,975
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
1,600 Lojack Corp 17,699
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
700 Cable Design Technologies Corp 15,050
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
400 Mine Safety Appliances Co 21,200
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
1,200 Windmere Corp 9,900
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
1,100 Micropolis Corp 5,775
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
300 Microtest Inc 6,675
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
2,000 M/A-Com Inc 23,500
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
700 Telco Systems Inc 7,000
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
1,200 OEA Inc 35,550
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
1,700 Auspex Systems Inc 21,250
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
1,300 Marshall Industries 43,550
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
700 Cidco Inc 21,963
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
1,000 National Computer Systems Inc 20,750
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
900 Level One Communications Inc 19,350
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
1,100 Tecnol Medical Products Inc 24,200
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
400 Hutchinson Technology Inc 17,000
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
1,400 International Cabletel Inc 45,500
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
2,200 AST Research Inc 34,100
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
3,400 Intergraph Corp 37,825
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
300 Inter-Tel Inc 4,538
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
500 Communications Systems Inc 8,625
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
700 Perseptive Biosystems Inc 7,700
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
600 Three Five Systems Inc 20,625
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
3,300 Interdigital Communications Inc 23,100
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
1,100 Compression Labs Inc 10,725
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
1,500 Comverse Technology Inc 26,625
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
900 Macromedia Inc 38,925
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
1,400 Kemet Corp 73,500
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
900 California Microwave Inc 22,556
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
3,900 Maxtor Corp 24,863
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
1,000 Measurex Corp 30,375
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
700 C COR Electronics Inc 19,250
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
1,500 Magnetek Inc 20,438
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
900 Invacare Corp 37,350
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
1,300 Oak Industries Inc 33,475
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
1,050 Burr Brown Corp 28,350
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
3,800 Mentor Graphics Corp 65,550
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
2,400 Tencor Instruments 98,400
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
700 Mentor Corp 19,513
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
800 Metricom Inc 12,000
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
500 Megatest Corp 6,625
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
800 Pacific Scientific Co 14,300
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
1,400 Juno Lighting Inc 22,400
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
300 Cincinnati Microwave Inc 4,275
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
1,500 Methode Electronics Inc 29,250
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
300 Medicus Systems Corp 2,925
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
1,100 Intervoice Inc 19,250
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
400 ICU Medical Inc 5,650
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ENVIRONMENTAL SERVICES 201
0.6% 400 Thermo Process Systems Inc
4,900 *
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ENVIRONMENTAL SERVICES 201
700 Western Waste Industries Co 14,088
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ENVIRONMENTAL SERVICES 201
2,000 Air & Water Technologies Corp 11,250
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ENVIRONMENTAL SERVICES 201
172 Thermo Remediation Inc 2,688
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ENVIRONMENTAL SERVICES 201
1,500 Mid-American Waste Systems Inc 7,313
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ENVIRONMENTAL SERVICES 201
300 Horsehead Resource Develpoment Co 1,350
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ENVIRONMENTAL SERVICES 201
900 Tetra Technologies Inc 10,913
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ENVIRONMENTAL SERVICES 201
200 Sevenson Environmental Services Inc 3,650
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ENVIRONMENTAL SERVICES 201
900 Zurn Industries Inc 18,000
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ENVIRONMENTAL SERVICES 201
800 USA Waste Services Inc 12,400
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ENVIRONMENTAL SERVICES 201
500 United Waste Systems Inc 18,000
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ENVIRONMENTAL SERVICES 201
2,700 International Technology Corp 8,100
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ENVIRONMENTAL SERVICES 90
1,100 Sanifill Inc 34,513
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ENVIRONMENTAL SERVICES 90
1,100 Envirosource Inc 5,088
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ENVIRONMENTAL SERVICES 201
4,500 Rollins Environmental Services Inc 21,375
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ENVIRONMENTAL SERVICES 201
700 OHM Corp 8,488
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ENVIRONMENTAL SERVICES 201
3,100 Chambers Development Company Inc 19,955
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
ENVIRONMENTAL SERVICES 201
500 Groundwater Technology Inc 6,063
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
FORESTRY 110
0.1% 1,600 Chesapeake Corp
49,800
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
GAS
80 2.1%
1,100 NGC Corp 11,550
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
GAS
80
862 Southern Union Co 15,624
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
GAS
80
855 Southeastern Michigan Gas Enterprises 16,459
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
GAS
80
1,800 Oceaneering International Inc 15,975
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
GAS
80
2,200 Iowa-Illinois Gas & Electric Co 48,125
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
GAS
80
1,150 Atmos Energy Corp 23,288
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
GAS
80
700 USX-Delhi Group 8,050
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
GAS
80
400 Providence Energy Corp 6,100
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
GAS
80
700 Connecticut Natural Gas Corp 15,400
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
GAS
80
1,900 Southwestern Energy Co 26,363
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
GAS
80
1,000 Bay State Gas Co 24,625
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
GAS
80
800 Yankee Energy Systems Inc 17,800
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
GAS
80
400 Aquila Gas Pipeline Co 3,550
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
GAS
80
700 Cascade Natural Gas Corp 9,800
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
GAS
80
1,500 Eastern Enterprises 44,813
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
GAS
80
1,300 Wicor Inc 36,563
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
GAS
80
700 Connecticut Energy Corp 13,738
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
GAS
80
1,100 Northwest Natural Gas Co 34,375
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
GAS
80
2,000 Oneok Inc 42,750
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
GAS
80
800 South Jersey Industries Inc 16,800
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
GAS
80
1,300 Laclede Gas Co 25,513
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
GAS
80
600 NUI Corp 10,050
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
GAS
80
2,700 Kelley Oil and Gas Corp 14,680
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
GAS
80
1,700 Southwest Gas Corp 24,225
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
GAS
80
500 Tejas Gas Corp 24,813
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
GAS 209
500 Tejas Power Corp 4,813
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
GAS
80
600 Colonial Gas Co 11,850
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
GAS
80
1,500 Indiana Energy Inc 28,500
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
GAS
80
500 North Carolina Natural Gas Corp 10,875
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
GAS
80
1,300 New Jersey Resources Corp 30,063
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
GAS
80
1,400 Public Service Company of North Caroli 22,925
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
GAS
80
2,100 Piedmont Natural Gas Company Inc 43,575
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
GAS
80
1,800 Washington Energy Co 29,475
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
GAS
80
800 United Cities Gas Corp 12,000
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
GAS
80
1,735 KN Energy Inc 44,026
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HIGHWAYS 180
0.2% 1,700 Yellow Corp
30,813
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HIGHWAYS 180
1,500 Arnold Industries Inc 26,250
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
8.4% 500 Queens County Bancorp Inc
15,875
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
900 MGI Properties Inc 13,500
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
1,000 Carr Realty Corp 17,250
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
200 Christiana Companies Inc 5,350
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
100 Merchants New York BanCorp Inc 5,150
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
900 WHX Corp 10,575
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
2,100 Merry Land & Investment Company Inc 42,788
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
2,602 Roosevelt Financial Group Inc 43,420
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
600 Loyola Capital Corp 18,600
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
1,200 Peoples Heritage Financial Group Inc 18,000
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
200 Irwin Financial Corp 6,900
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
600 Mail Boxes Etc 5,700
*
'
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
510 National Penn Bancshares Inc 13,260
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
700 Sun Communities Inc 17,500
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
800 Citizens Banking Corp 23,800
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
400 Omega Financial Corp 10,600
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
650 Chemical Financial Corp 19,825
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
200 Capital Southwest Corp 8,700
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
900 Thornburg Mortgage Asset Co 12,263
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
1,800 RFS Hotel Investments Inc 27,450
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
2,100 Avalon Properties Inc 41,738
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
1,100 One Valley Bancorp of West Virginia In 33,963
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
700 Citizens Inc 6,738
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
300 Citfed Bancorp Inc 8,175
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
600 Chittenden Corp 13,050
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
1,900 IRT Property Co 18,525
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
1,000 Cilcorp Inc 36,375
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
220 City Holding Co 5,830
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
500 Banknorth Group Inc 13,438
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
204 Peoples Holding Co 8,396
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
1,100 Jefferson Bankshares Inc 23,100
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
1,135 Omega Healthcare Investors Inc 28,801
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
300 BSB Bancorp 9,000
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
800 BRE Properties Inc 24,800
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
2,200 Ralcorp Holdings Inc 50,325
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
1,200 Life USA Holdings Inc 10,500
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
900 JP Realty Inc 18,450
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
400 Chelsea GCA Realty Inc 10,800
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
760 Bankers Corp 12,350
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
100 Midland Co 4,375
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
900 S & T Bancorp Inc 21,375
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
600 Fund American Enterprises Holdings Inc 42,825
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
1,000 Onbancorp Inc 28,375
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
200 Cobancorp Inc 3,900
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
1,600 American Health Properties Inc 34,200
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
500 Centerpoint Properties Corp 10,313
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
800 Amcore Financial Inc 14,800
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
1,733 Keystone Financial Inc 48,848
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
1,500 Centura Banks Inc 41,813
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
950 Republic Bancorp Inc 11,281
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
500 Regency Realty Corp 8,500
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
1,300 Koger Equity Inc 11,375
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
367 Shoreline Financial Corp 6,423
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
433 First Industrial Corp 8,552
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
600 Security-Connecticut Life Insurance Co 15,450
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
800 JSB Financial Inc 23,100
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
2,500 Storage Equities Inc 40,938
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
800 Security Capital Corp 39,200
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
1,100 UST Corp 14,575
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
750 United Companies Financial Corp 33,750
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
300 First United Bancshares Inc 10,800
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
400 First Western Bancorp 11,350
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
1,400 South West Property Trust Inc 16,100
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
3,900 United Dominion Realty Trust Inc 57,525
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
466 Financial Trust Corp 13,048
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
500 Mark Centers Trust 6,500
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
100 United Counties Bancorp 16,200
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
200 First Merchants Corp 6,825
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
300 Webster Financial Corp 7,163
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
1,000 First National Bancorp 21,500
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
200 BankAtlantic Bancorp Inc 3,500
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
1,400 First Union Real Estate Investments 10,500
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
1,700 Duke Realty Investments Inc 48,025
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 150
2,900 Rockefeller Center Properties Inc 15,225
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
400 First Financial Holdings Inc 7,200
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
4,400 Security Capital Industrial Trust 71,500
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
1,200 Developers Diversified Realty Corp 34,500
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
400 Tanger Factory Outlet Centers Inc 10,150
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
500 Magna Bancorp 12,500
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
1,200 Comdata Holdings Corp 18,450
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
1,200 Town & Country Trust 17,250
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
500 St Francis Capital Corp 10,000
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
200 Maryland Federal Bancorp Inc 6,450
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
525 Provident Bankshares Corp 13,847
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
600 Bancorpsouth Inc 23,250
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
1,200 Glimcher Realty Trust 24,900
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
750 Presstek Inc 38,250
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
315 First Source Corp 9,214
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
7,424 Dime Bancorp Inc 74,240
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
1,400 McArthur/Glen Realty Corp 20,475
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
1,100 Camden Property Trust 24,063
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
600 Pennsylvania Real Estate Investment Tr 12,225
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
700 Sizeler Property Investors Inc 6,650
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
200 SJW Corp 7,175
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
200 Farmers Capital Bank Corp 6,500
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
600 SFFED Corp 12,750
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
3,214 Sovereign Bancorp Inc 30,935
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
700 Provident Bancorp Inc 24,238
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
400 GBC Bancorp 4,800
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
400 White River Corp 13,900
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
1,900 Berkshire Realty Inc 18,763
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
1,100 Capstead Mortgage Corp 29,563
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 145
800 Factory Stores of America Inc 16,400
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
900 Saul Centers Inc 14,400
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
2,200 Taubman Centers Inc 20,900
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
415 Harleysville National Corp 11,153
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
1,400 Cousins Properties Inc 24,850
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
900 Colonial Properties Trust 20,700
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
1,000 Allied Capital Commercial Corp 17,625
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
400 Harleysville Group Inc 10,000
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
650 Bradley Real Estate Inc 10,481
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
1,155 CNB Bancshares Inc 34,650
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
2,000 Criimi Mae Inc 15,750
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 209
400 Pec Israel Economic Corp 10,750
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
500 CSF Holdings Inc 17,383
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
200 Old Second Bancorp Inc 7,450
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
400 Inacom Corp 5,150
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
300 Scor US Corp 2,700
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
900 Alexander Haagen Properties Inc 10,350
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
1,000 Hawkeye Bancorp 22,000
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
1,500 Crown American Realty Trust 18,938
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
500 Heritage Financial Services Inc 8,625
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
900 Acceptance Insurance Companies Inc 13,050
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
625 FNB Corp 11,250
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
800 Excel Realty Trust Inc 15,900
/
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
900 Columbus Realty Trust 16,875
/
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
600 Supercuts Inc 4,725
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
1,400 National Commerce Bancorp 35,350
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
1,200 National Health Investors Inc 32,700
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
300 AMLI Residential Properties Trust 5,700
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
1,300 Wellsford Residential Property Trust 29,575
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
700 Associated Estates Realty Corp 14,788
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
800 Kranzco Realty Trust 14,300
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
500 Cathay Bancorp Inc 5,625
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
303 BOK Financial Corp 6,780
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
620 NBT Bancorp Inc 10,075
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
1,400 Coast Savings Financial Inc 28,875
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
2,100 RPS Realty Trust 9,450
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
500 Community First Bancshares Inc 8,500
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
200 Pinnacle Banc Group Inc 6,350
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
200 Allied Holdings Inc 1,750
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
1,200 CBL & Associated Properties Inc 23,850
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
900 Commercial Net Lease Realty Inc 11,813
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
1,600 Pioneer Group Inc 43,000
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
800 TR Financial Corp 14,300
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
300 National Bancorp of Alaska Inc 15,300
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
2,100 Washington Real Estate Investment Trus 33,075
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
1,110 F &
M National Corp 18,315
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
1,200 Summit Properties Inc 20,700
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
400 The Boston Bancorp 17,000
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
1,300 LTC Properties Inc 17,063
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
2,100 Finova Group Inc 73,500
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
500 Medicine Shoppe International Inc 17,563
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
1,300 Western Investment Real Estate Trust 15,438
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
410 First Federal Capital Corp 6,560
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
320 F & M Bancorp 8,240
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
300 MAF Bancorp Inc 7,050
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
700 Real Estate Investment Trust of Califo 11,725
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
300 CPB Inc 7,650
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
1,000 Healthcare Realty Trust Co 20,250
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
400 Hancock Holding Co 12,300
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
350 Brenton Banks Inc 6,256
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
525 Peoples First Corp 9,713
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
700 Amvestors Financial Corp 8,138
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
1,266 Mid-America Inc 19,307
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
800 Tucker Properties Corp 9,700
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
400 Midland Financial Group Inc 7,400
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
400 First Commerce Bancshares Inc 7,200
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
700 Kasler Holding Co 3,675
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDEPENDENT POWER PROD 120
0.1% 3,100 California Energy Company Inc
50,763 *
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
8.7% 300 Gupta Corp
2,925 *
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
500 Vmark Software Inc 8,875
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
600 Insurance Auto Actions Inc 17,550
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
600 GRC International Inc 9,450
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
1,200 Viewlogic Systems Inc 15,150
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
2,000 Information Resources Inc 28,500
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
1,800 Columbia Laboratories Inc 13,387
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
1,700 Shared Medical Systems Corp 68,213
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
1,600 S3 Inc 57,600
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
700 Wall Data Inc 10,675
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
1,000 Scientific Games Holdings Corp 27,750
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
25 Grey Advertising Inc 4,800
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
600 Hyperion Software Corp 27,150
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
400 Pinkertons Inc 7,350
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
1,200 Avid Technology Inc 45,000
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
1,100 Banyan Systems Inc 15,125
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
500 Cambridge Technology Partners Inc 16,500
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
1,200 Ennis Business Forms Inc 14,850
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
2,900 Allwaste Inc 15,950
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
1,600 Robert Half International Inc 41,000
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
800 C D I Corp 16,400
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
200 Active Voice Corp 5,500
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
1,000 Tricord Systems Inc 3,750
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
1,000 Walker Interactive Systems Inc 5,750
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
2,100 Enterra Corp 44,100
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
800 Marcam Corp 10,900
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
900 Control Data Systems Inc 8,100
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
3,200 Altera Corp 138,400
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
400 Computer Language Research Inc 3,750
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
1,150 Alliance Semiconductor Corp 56,350
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
200 Davidson & Associates Inc 7,950
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
1,400 Continuum Inc 46,375
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
900 ImmuLogic Pharmaceutical Corp 7,088
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
533 Henry (Jack) & Associates Inc 7,795
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
1,200 FTP Software Inc 36,000
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
400 Wackenhut Corp 5,950
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
1,300 Advo Inc 24,538
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
1,000 Standard Register Co 19,000
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
1,900 Computervision Corp 12,588
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
1,100 Corrections Corporation of America 37,813
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
700 Heritage Media Corp 20,213
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
600 Transmedia Network Inc 6,000
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
900 Hogan System Inc 9,225
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
1,200 Dames & Moore Inc 15,600
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
200 Corvel Corp 4,300
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
2,200 Ideon Group Inc 21,725
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
1,400 Synopsys Inc 87,675
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
2,600 OIS Optical Imaging Systems Inc 13,325
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
1,400 True North Communications Inc 26,425
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
700 Mercury Interactive Co 14,088
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
2,900 Cadence Design Systems Inc 93,888
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
700 Ackerley Communications Inc 8,575
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
1,400 Figgie International Inc 12,075
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
2,600 Acclaim Entertainment Inc 47,936
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
600 Medic Computer Systems Inc 23,100
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
600 Caci International Inc 7,350
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
1,500 Platinum Technology Inc 27,188
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
500 Planar Systems Inc 11,125
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
1,000 MacNeal Schwendler Corp 14,000
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
400 Fair Isaac & Co Inc 11,900
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
1,100 Broderbund Software Inc 70,125
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
2,100 Applied Bioscience International Inc 10,763
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
400 Integrated Systems Inc 10,100
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
687 Tetra Tech Inc 12,194
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
400 Mapinfo Corp 14,200
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
3,200 Medaphis Corp 69,600
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
900 Primark Corp 16,313
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
300 Progess Software Corp 15,600
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
500 MacErich Co 9,813
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
2,100 Borland International Inc 27,038
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
1,100 Artisoft Inc 9,143
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
200 Brock Control Systems Inc 1,600
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
1,400 Sungard Data System Inc 73,150
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
400 Aaron Rents Inc 6,350
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
600 Boole & Babbage Inc 18,000
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
1,100 Bisys Group Inc 24,475
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
1,300 System Software Associates Inc 26,000
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
400 Electro Rent Corp 8,800
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
200 Systemix Inc 2,900
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
500 Atria Software Inc 24,250
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
500 Sylvan Learning Systems Inc 10,750
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
2,800 Symantec Corp 80,850
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
600 Payco American Corp 4,650
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
300 Career Horizons Inc 5,700
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
620 Executive Telecard Ltd 3,178
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
800 Filenet Corp 32,300
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
1,100 Ecogen Inc 2,200
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
1,400 National Data Corp 32,375
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
500 ABM Industries Inc 11,563
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
1,300 Bolt Beranek & Newman Inc 35,588
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
900 Systems & Computer Technology Corp 18,000
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
3,100 Aura Systems Inc 15,305
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
2,200 Netmanage Inc 37,400
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
700 Wonderware Corp 28,175
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
800 Peoplesoft Inc 43,400
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
1,300 Santa Cruz Operation Inc 10,888
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
500 Analysts International Corp 13,000
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
500 Healthcare Services Group Inc 5,375
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
300 Cornerstone Imaging Inc 4,875
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
200 CDW Computer Centers Inc 10,100
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
700 Cerner Corp 42,875
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
1,950 American Management Systems Inc 48,994
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
600 Kopin Corp 6,000
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
1,150 Keane Inc 28,606
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
900 Actava Group Inc 11,813
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
400 Cellular Technical Services Co 10,200
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
1,700 The 3DO Co 20,505
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
2,200 Structural Dynamics Research Corp 28,461
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
1,100 Racotek Inc 6,600
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
800 Thermo Cardiosystems Inc 29,300
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
1,300 American Software Inc 6,663
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
300 Learning Co 10,781
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
2,400 Pyxis Corp 54,300
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
1,000 Recognition International Inc 9,125
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
400 Lasermaster Technologies Inc 2,100
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
400 Logicon Inc 17,800
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
2,300 DNA Plant Technology Corp 4,526
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
500 Gilbert Associates Inc 6,500
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
1,600 Jacobs Engineering Group Inc 35,200
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
600 American Superconductor Corp 8,550
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
400 Thermotrex Corp 13,700
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
1,700 Acxiom Corp 40,588
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
600 Landauer Inc 11,325
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
900 Chronimed Inc 11,138
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
800 Interleaf Inc 5,900
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
1,200 Landmark Graphics Corp 30,600
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
700 Frame Technology Corp 20,475
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
600 Stone & Webster Inc 17,700
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
600 Intuit Inc 45,600
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
1,100 Sierra On-Line Inc 27,500
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
500 Itron Inc 15,625
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
1,100 Intersolv Inc 25,575
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
500 American Business Information Inc 13,500
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
2,000 America Online Inc 88,000
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
2,300 Advanced Tissue Sciences Inc 22,425
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
500 Isomedix Inc 6,750
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
1,100 Dialogic Corp 19,525
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
1,300 Retix 4,713
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
1,000 Cerplex Group Inc 7,750
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INDUSTRIAL SERVICES 199
1,466 Sterling Software Inc 56,441
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INSURANCE 135
3.8% 1,300 Reinsurance Group America Co
37,213
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INSURANCE 135
600 Employee Benefit Plans Inc 9,750
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INSURANCE 135
3,400 Reliance Group Holdings Inc 22,100
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INSURANCE 135
1,400 Penncorp Financial Group Inc 25,900
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INSURANCE 135
1,600 Systemed Inc 10,800
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INSURANCE 135
1,300 Emphesys Financial Group 30,713
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INSURANCE 135
700 Independent Insurance Group Inc 10,325
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INSURANCE 135
1,100 W R Berkley Corp 39,050
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INSURANCE 135
625 Mutual Assurance Inc 18,750
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INSURANCE 135
1,000 NAC Re Corp 31,125
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INSURANCE 135
300 Navigators Group Inc 4,725
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INSURANCE 135
700 Foremost Corp of America 27,125
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INSURANCE 135
500 American Heritage Life Investment Corp 10,625
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INSURANCE 135
200 Delphi Financial Group Inc 3,500
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INSURANCE 135
100 National Western Life Insurance Co 4,325
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INSURANCE 135
400 Wellcare Managment Group Inc 9,900
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INSURANCE 135
1,800 Crawford & Co 30,375
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INSURANCE 135
1,900 Protective Life Corp 51,775
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INSURANCE 135
1,000 National Re Corp 33,500
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INSURANCE 135
2,000 United Insurance Companies Inc 26,000
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INSURANCE 135
1,100 Selective Insurance Group Inc 36,300
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INSURANCE 135
600 Washington National Corp 12,375
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INSURANCE 135
880 Fremont General Corp 21,230
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INSURANCE 135
450 Stewart Information Services Corp 8,831
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INSURANCE 135
250 United Fire and Casualty Co 7,313
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INSURANCE 135
2,700 Citizens Corp 44,213
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INSURANCE 135
1,200 American Bankers Insurance Group Inc 38,100
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INSURANCE 135
800 Executive Risk Inc 15,200
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INSURANCE 135
600 Frontier Insurance Group Inc 16,125
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INSURANCE 135
200 United Wisconsin Services Inc 4,000
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INSURANCE 135
800 CMAC Investment Corp 34,700
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INSURANCE 135
375 RLI Corp 8,531
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INSURANCE 135
300 State Auto Financial Corp 5,625
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INSURANCE 135
800 Zurich Reinsurance Centre Holdings 22,900
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INSURANCE 135
700 Fidelity National Financial Inc 10,500
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INSURANCE 135
500 PXRE Corp 11,750
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INSURANCE 135
2,900 Commerce Group Inc 51,838
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INSURANCE 135
700 Lawyers Title Corp 10,850
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INSURANCE 135
1,000 Maxicare Health Plans Inc 15,500
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INSURANCE 135
1,100 Life Partners Group Inc 22,000
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INSURANCE 135
1,297 Gainsco Inc 12,888
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INSURANCE 135
700 The First American Financial Corp 16,188
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INSURANCE 135
300 First United Corp 4,538
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INSURANCE 135
500 Allied Group Inc 14,250
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INSURANCE 135
1,100 Danielson Holding Corp 8,663
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INSURANCE 135
1,100 Liberty Corp 29,975
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INSURANCE 135
400 Transnational RE Corp 8,025
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INSURANCE 135
700 Vesta Insurance Group Inc 24,063
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INSURANCE 135
500 Trenwick Group Inc 21,250
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INSURANCE 135
400 Capitol TransAmerica Corp 7,700
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INSURANCE 135
1,100 Hilb Rogal & Hamilton Co 13,750
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INSURANCE 135
800 American Travellers Co 14,100
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INSURANCE 135
1,000 Acordia Inc 32,125
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INSURANCE 135
800 Zenith National Insurance Corp 17,200
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INSURANCE 135
600 MMI Companies Inc 11,775
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INSURANCE 135
1,700 Presidential Life Corp 14,025
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INSURANCE 135
400 Nymagic Inc 6,350
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INSURANCE 135
1,100 Arthur J Gallagher & Co 40,013
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INSURANCE 135
1,000 Orion Capital Corp 39,000
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INSURANCE 135
400 Avemco Corp 6,950
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INSURANCE 135
600 Pacific Physician Services Inc 7,800
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INSURANCE 135
400 Poe & Brown Inc 9,300
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INSURANCE 135
700 Blanch E W Holdings Inc 13,038
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INSURANCE 135
1,000 CCP Insurance Inc 22,750
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INSURANCE 135
900 Enhance Financial Services Group Inc 17,438
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INSURANCE 135
500 HCC Insurance Holdings Inc 13,000
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INSURANCE 135
1,500 Alfa Corp 17,625
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INSURANCE 135
500 Guaranty National Corp 9,250
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INSURANCE 135
500 Physicians Health Services Inc 13,250
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INSURANCE 135
900 Capital RE Corp 23,400
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INSURANCE 135
200 Kansas City Life Insurance Co 9,600
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INSURANCE 135
1,000 Life Re Corp 18,625
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INSURANCE 135
900 Home Beneficial Corp 18,225
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INSURANCE 135
2,700 Southwestern Life Corp 2,700
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
INSURANCE 135
600 Integon Corp 10,200
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
LEASING 140
0.0% 100 Amplicon Inc
1,575
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
LEASING 140
500 Oxford Resources Corp 8,875
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
7.2% 300 Raven Industries Inc
5,925
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
300 Deckers Outdoor Corp 3,038
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
200 Deerbank Corp 8,950
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
200 K-Swiss Inc 2,600
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
800 Canandaigua Wine Company Inc 36,000
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
1,400 Playtex Products Inc 13,825
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
900 Smithfield Foods Inc 19,181
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
320 Knape & Vogt Manufacturing Co 4,800
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
900 Dreyer's Grand Ice Cream Inc 32,963
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
800 Universal Forest Products Inc 6,400
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
1,800 Hartmarx Corp 9,000
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
350 Bush Industries Inc 3,938
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
700 Chic by His Inc 7,875
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
300 Fab Industries Inc 9,150
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
750 Jason Inc 7,688
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
900 Michael Foods Inc 9,900
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
700 Catalina Marketing Corp 37,538
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
1,300 Western Publishing Group Inc 14,625
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
900 Springs Industries Inc 33,525
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
350 Pulitzer Publishing Co 14,919
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
1,600 Gartner Group Inc 46,400
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
400 Super Rite Corp 8,650
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
300 Performance Food Group Co 6,075
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
900 Cross (A T) Co 13,388
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
500 International Imaging Materials Inc 12,750
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
1,800 Gymboree Corp 52,312
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
1,200 Delta Woodside Industries Inc 9,150
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
300 Tandy Brands Accessories Inc 2,025
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
400 Penwest Ltd 9,300
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
1,900 Tultex Corp 10,688
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
3,000 Flowers Industries Inc 59,250
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
2,000 Savannah Foods & Industries Inc 22,000
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
1,100 Champion Enterprises Inc 17,463
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
300 Plenum Publishing Corp 10,500
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
800 The Penn Traffic Co 28,300
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
800 Dixie Yarns Inc 5,400
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
2,350 Dimon Inc 39,656
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
1,100 Kinetic Concepts Inc 7,838
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
1,800 Cone Mills Corp 23,175
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
400 Flexsteel Industries Inc 4,100
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
1,400 Justin Industries Inc 15,400
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
300 Coca-Cola Bottling Co 9,300
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
700 Starter Corp 5,688
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
400 National Presto Industries Inc 18,150
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
1,900 Miller (Herman) Inc 47,025
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
500 Wiley (John) & Sons Inc 28,438
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
12 Seaboard Corp 3,102
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
400 Thomaston Mills Inc 5,000
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
1,000 Tiffany & Co 34,000
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
800 ERO Inc 6,800
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
1,400 Interface Inc 17,500
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
700 Brothers Gourmet Coffees Inc 5,075
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
500 Ben & Jerry's Homemade Inc 6,875
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
1,440 Zapata Corp 4,320
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
500 Graphic Industries Inc 4,938
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
650 Nature's Sunshine Products Inc 10,238
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
500 J & J Snack Foods Corp 6,313
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
1,800 Ross Stores Inc 21,150
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
1,500 Oakwood Homes Corp 38,438
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
2,100 Mohawk Industries Inc 30,975
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
400 Wholesome & Hearty Foods Inc 4,600
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
500 Morningstar Group Inc 3,625
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
2,600 Universal Corp 54,600
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
900 Ply-Gem Industries Inc 15,975
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
1,400 Harte-Hanks Communications Inc 35,350
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
200 Bridgford Foods Corp 2,400
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
300 AEP Industries Inc 6,375
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
500 Culp Inc 3,875
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
1,100 Ethan Allen Interiors Inc 19,525
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
3,500 Zenith Electronics Corp 25,813
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
500 Crown Crafts Inc 8,250
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
400 Midwest Grain Products Inc 7,400
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
500 Farah Inc 3,250
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
900 Scholastic Corp 48,825
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
200 Thorn Apple Valley Inc 4,700
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
1,250 Wolverine World Wide Inc 25,938
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
400 Falcon Products Inc 5,100
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
205 American City Business Journals Inc 4,510
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
300 Pillowtex Corp 3,075
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
1,300 Brown Group Inc 29,575
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
1,150 WLR Foods Inc 16,531
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
900 American Business Products Inc 17,100
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
1,100 Bowne & Company Inc 18,838
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
1,000 Bassett Furniture Industries Inc 28,000
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
600 Fibreboard Corp 14,400
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
1,300 O'Sullivan Industries Inc 9,913
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
1,400 Eagle Hardware & Garden Inc 9,625
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
600 Oxford Industries Inc 10,950
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
1,100 Playboy Enterprises Inc 8,663
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
500 Fieldcrest Cannon Inc 10,813
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
300 Pilgrims Pride Corp 2,325
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
28 Farmer Brothers Co 3,430
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
300 Haggar Corp 5,850
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
800 Great American Management & Investment 29,800
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
300 Mondavi Robert Corp 5,250
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
500 CSS Industries Inc 9,000
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
400 Donnkenny Inc 7,950
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
400 American Maize Products 13,550
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
1,200 The Dress Barn Inc 11,700
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
1,200 Lydall Inc 26,400
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
1,300 CompUSA Inc 43,225
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
200 Steck-Vaughn Publishing Corp 1,750
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
1,400 Alberto-Culver Co 42,350
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
1,200 Carr-Gottstein Foods Corp 7,650
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
300 Garan Inc 5,025
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
400 Shelby Williams Industries Inc 4,550
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
2,200 Levitz Furniture Inc 15,400
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
1,000 Masland Corp 12,875
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
2,300 Calgene Inc 15,955
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
1,200 Designs Inc 10,650
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
200 Celestial Seasonings Inc 3,600
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
600 The Timberland Co 14,775
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
1,150 Hudson Foods Inc 15,956
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
1,200 Kimball International Inc 32,700
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
900 La-Z-Boy Chair Co 23,738
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
400 Cyrk Inc 3,550
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
700 Insilco Corp 24,763
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
900 Oshkosh B'Gosh Inc 14,400
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
900 Galey & Lord Inc 12,488
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
2,000 Westpoint Stevens Inc 35,750
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
1,800 CCH Inc 38,475
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
1,200 Lance Inc 22,500
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
1,200 Converse Inc 8,850
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
1,500 Media General Inc 45,750
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
1,100 Dyersburg Corp 5,500
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
250 Dimark Inc 3,750
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
500 Johnston Industries Inc 3,938
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
500 Ladd Furniture Inc 6,500
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
400 Cadmus Communications Corp 9,450
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
1,500 Meredith Corp 38,063
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
1,300 Church & Dwight Inc 26,975
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
143 Champion Industries Inc 3,182
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
2,000 Chiquita Brands International Inc 28,000
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
1,500 Interstate Bakeries Co 24,750
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
900 Ashworth Inc 7,425
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
1,100 Triangle Pacific Corp 18,288
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
615 Tootsie Roll Industries Inc 42,589
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
500 Unitog Co 10,813
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
550 Sanderson Farms Inc 6,188
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
3,200 Valassis Communications Inc 53,600
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
3,100 Topps Company Inc 19,375
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
900 Valhi Inc 6,300
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
400 Chromcraft Revington Inc 8,500
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
2,200 Smucker (J M) Co 48,675
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
1,100 Gibson Greetings Inc 14,713
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
500 Superior Surgical Manufacturing Compan 5,250
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
700 Guilford Mills Inc 17,063
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
500 Quaker Fabric Corp 3,875
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
600 Norton McNaughton Inc 9,300
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
1,500 Banta Corp 49,875
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
450 One Price Clothing Stores Inc 1,688
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
800 Pharmaceutical Marketing Services Inc 7,350
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
400 Merrill Corp 7,600
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
900 New England Business Service Inc 17,775
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
400 Devon Group Inc 11,800
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
1,100 Authentic Fitness Corp 18,425
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
1,200 International Multifoods Corp 27,000
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
1,550 Kellwood Co 26,350
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
15.2% 400 Titan Wheel International Inc
10,300
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
3,800 Interco Inc 22,325
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
300 Huntco Inc 4,875
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
800 Toro Co 22,400
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,300 Watson Pharmaceuticals Inc 50,700
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
300 Johnson Worldwide Associates Inc 7,050
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,000 Cortech Inc 3,000
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
600 In Focus Systems Inc 16,200
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
400 Copley Pharmaceutical Inc 8,400
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,400 Copytele Inc 13,825
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,000 Tseng Labs Inc 8,750
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
2,100 Icos Corp 12,075
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
600 Helix Technology Corp 25,800
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
800 Roberts Pharmaceutical Corp 17,600
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
2,400 IDEXX Laboratories Inc 62,400
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,700 Indresco Inc 26,350
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,300 CMI Corp 7,963
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,600 Alliance Pharmaceutical Corp 13,200
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
600 Armor All Products Corp 10,350
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
600 Kaiser Aluminum Corp 8,325
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
500 Jones Medical Industries Inc 5,563
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
800 Banctec Inc 12,500
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
400 Thermo Fibertech Inc 7,950
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
400 Chaparral Steel Co 3,950
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
600 Sequa Corp 17,550
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
600 Republic Gypsum Co 6,000
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,400 Somatogen Inc 18,900
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
200 WBCO Industries Inc 1,250
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
800 Protein Design Labs Inc 16,600
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
400 Stepan Co 6,850
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,100 Commercial Intertech Corp 17,600
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,700 Computer Network Technology Corp 17,425
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
300 Katy Industries Inc 2,363
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
600 Walbro Corp 10,800
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
798 Intermagnetics General Corp 11,372
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
900 Cobra Golf Inc 28,463
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
600 Tokheim Corp 4,650
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
300 Coastcast Corp 3,263
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
200 International Aluminum Corp 6,350
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,400 Intermet Corp 13,300
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,200 Interneuron Pharmaceutical Inc 12,450
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,100 Immune Response Corp 4,675
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
300 Jean Philippe Fragrances Inc 3,263
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,500 Circa Pharmaceuticals Inc 47,813
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
400 JLG Industries Inc 10,600
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
2,000 Kennametal Inc 70,500
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
4,200 Centocor Inc 60,110
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,300 Immunomedics Inc 3,088
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,400 Ribi Immunochem Research Inc 5,600
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
500 Encore Wire Corp 5,500
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
450 Inbrand Corp 7,313
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,400 Cephalon Inc 25,900
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,400 Immunex Corp 18,200
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,200 Kaydon Corp 35,700
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,450 IDEX Corp 48,575
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
400 Tredegar Industries Inc 9,950
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
800 IMCO Recycling Inc 15,000
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
975 Thomas Nelson Inc 18,769
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,800 Silicon Valley Group Inc 65,250
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,200 Smith Corona Corp 1,650
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
2,125 ICN Pharmaceuticals Inc 33,469
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
2,200 Wang Laboratories Inc 36,025
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,500 Outboard Marine Corp 29,438
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
500 Steel Technologies Inc 5,750
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
200 Gasonics International Corp 5,700
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
400 Alamo Group Inc 6,900
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,000 Procyte Corp 2,250
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
400 Brady W H Co 27,200
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
540 Mosinee Paper Corp 11,610
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
700 Kulicke & Soffa Industries Inc 46,418
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
600 Brenco Inc 7,275
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
900 Modecular Biosystems Inc 5,625
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
500 Nacco Industries Inc 29,938
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
600 Mueller Industries Inc 29,550
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
900 MGI Pharma Inc 3,375
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
900 Wyman Gordon Co 9,675
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
775 Myers Industries Inc 11,141
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
2,000 Omega Environmental Inc 7,000
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
400 Wynn's International Inc 9,300
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,600 Gensia Inc 6,000
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
4,100 Gaylord Container Corp 49,200
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
800 Ionics Inc 27,800
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
500 Valmont Inc 10,813
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
500 Florida Rock Industries Inc 14,188
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,100 Foamex International Inc 8,043
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
200 Micros Systems Inc 6,600
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
200 Barr Labs Inc 4,325
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,200 Zero Corp 18,000
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
900 United States Can Corp 14,063
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,200 Oregon Steel Mills Inc 20,550
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
400 Thermo Power Corp 6,800
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,000 Cell Genesys Inc 4,562
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
2,800 Weirton Steel Corp 19,600
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
450 NN Ball & Roller Inc 7,988
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
2,450 Microchip Technology Inc 89,119
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,200 Telxon Corp 26,100
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
500 General Binding Corp 8,750
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
500 Optical Data Systems Inc 13,125
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,600 Oncor Inc 9,699
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
600 Bell Sports Corp 6,900
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
700 Oneida Ltd 10,325
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
400 Oil-Dri Corp of America 5,950
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
700 Organogenesis Inc 9,975
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
400 Syratech Corp 7,350
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
500 Synetic Inc 12,250
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
750 Osmonics Inc 12,188
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
600 Olympic Steel Company Inc 5,550
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,550 United States Filter Co 29,450
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,300 Dynatech Corp 24,375
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
900 BMC Industries Inc 22,613
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
700 Furon Co 15,400
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,500 UNR Industries Inc 11,063
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,000 Uromed Corp 8,125
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
2,500 United States Bioscience Inc 10,780
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
500 ECC International Corp 5,563
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
650 Gorman Rupp Co 9,425
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
200 Curtiss Wright Corp 8,925
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,600 Goulds Pumps Inc 34,800
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,997 Fulton Financial Corp 36,445
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
200 Day Runner Inc 3,450
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,100 EKCO Group Inc 6,600
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,000 Cygnus Therapeutic Systems 9,875
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
550 Graco Inc 14,781
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,400 Gilead Sciences Inc 24,675
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,200 Greenfield Industries Inc 34,800
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
600 Crosscomm Corp 6,787
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
2,600 Tyco Toys Inc 17,875
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
200 Gibraltar Steel Corp 2,600
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,400 Exide Corp 60,200
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,500 First Mississippi Corp 51,188
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
900 Epitope Inc 15,075
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,600 Discovery Zone Inc 14,499
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
100 Embrace Systems Corp 94
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
200 Fossil Inc 3,850
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
700 Electronics for Imaging Inc 36,575
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,800 Encore Computer Corp 2,812
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
300 Empire of Carolina Inc 2,550
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,450 Duriron Company Inc 32,625
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
300 Donnelly Corp 4,838
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,000 Vical Inc 9,750
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,400 Isis Pharmaceuticals Inc 17,675
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
2,300 Griffon Corp 18,400
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,900 Varco International Inc 15,675
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,300 J&L Specialty Steel Inc 25,025
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
600 Chemed Corp 20,850
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
2,965 Harnischfeger Industries Inc 102,663
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,100 Handy & Harman 17,050
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,800 Verifone Inc 44,100
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
400 TheraTech Inc 5,550
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
800 Vertex Pharmaceuticals Inc 13,100
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
900 Centex Construction Products Inc 11,588
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,500 Gerber Scientific Inc 25,125
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
700 Stimsonite Corp 8,488
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
400 ABT Building Products Corp 7,100
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
500 Astec Industries Inc 5,688
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
400 Petrolite Corp 12,100
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
100 SEDA Specialty Packaging Corp 788
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
600 Sturm Ruger Company Inc 19,575
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,000 Quanex Corp 24,750
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
500 Norand Corp 20,375
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
700 Park-Ohio Industries Inc 8,400
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,500 Tyler Corp 4,688
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
500 Vivus Inc 7,500
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,000 Pope & Talbot Inc 16,250
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
400 Tuscarora Inc 9,500
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,800 Dexter Corp 42,525
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
700 Ultratech Stepper Inc 24,675
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,000 Fuller (H B) Co 37,000
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
2,100 Fedders Corp 12,338
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
300 Puerto Rican Cement Company Inc 9,150
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,000 Pharmaceutical Resources Inc 10,500
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,800 Greif Brothers Corp 42,075
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
500 Agouron Pharmaceutical Inc 11,813
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
600 Alltrista Corp 11,550
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
715 Anthony Industries Inc 13,138
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,500 Aviall Inc 12,563
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
300 Aphton Corp 3,300
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,000 Rouge Steel Co 23,250
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,550 Precision Castparts Corp 54,444
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
500 Starrett (L S) Co 11,313
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
800 Applied Power Inc 23,100
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
6,800 Armco Inc 45,900
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,000 Specialty Equipment Companies Inc 12,875
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
300 Robbins & Myers Inc 8,250
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,300 Southdown Inc 24,863
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
300 Shaw Group Inc 2,484
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
2,300 Rock-Tenn Co 40,825
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
700 Scotsman Industries Inc 12,950
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,800 Albany International Corp 42,975
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
200 American Financial Enterprises Inc 4,450
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,400 Sealed Air Corp 61,600
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
400 Sybron Chemicals Inc 5,425
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
400 SPS Technologies Inc 15,050
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,300 Univax Biologics Inc 6,175
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
700 Allied Products Corp 13,388
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
2,400 Cytrx Corp 4,649
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
700 Techne Corp 9,450
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,000 Netframe System Inc 5,250
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,300 Wms Industries Inc 25,513
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,200 Network General Corp 32,700
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
200 New Jersey Steel Corp 1,975
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
300 NCH Corp 17,250
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
300 Blessings Corp 3,750
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,000 Wolverine Tube Inc 32,125
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
300 NCI Building Systems Inc 5,025
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
500 Nashua Corp 9,500
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
818 Block Drug Inc 27,608
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,200 National Steel Corp 18,600
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
400 NBTY Inc 2,600
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,700 Minerals Technologies Inc 61,200
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,900 Cytogen Corp 8,313
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
600 Genetic Therapy Inc 8,925
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
700 Cytec Industries Inc 28,613
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
600 Genta Inc 1,125
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
300 Blount Inc 13,388
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,250 Chipcom Corp 29,688
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
700 Swing-N-Slide Corp 3,150
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
300 Schnitzer Steel Industries Inc 6,900
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,400 Stac Electronics 10,325
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
900 Shaman Pharmaceuticals Inc 4,500
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
800 Standex International Corp 25,200
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
550 Photronics Inc 16,913
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
600 Amtrol Inc 10,800
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,400 AK Steel Holding Corp 38,150
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
800 Roper Industries Inc 28,000
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,400 Regal-Beloit Corp 21,700
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
100 American Filtrona Corp 2,950
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,000 Aptargroup Inc 32,125
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
500 WD-40 Co 20,750
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,100 Shorewood Packaging Corp 16,088
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,700 Athena Neurosciences Inc 15,513
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
700 SciClone Pharmaceuticals Inc 4,375
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 100
600 Quaker Chemical Corp 9,750
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,400 Amylin Pharmaceuticals Inc 11,025
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
400 Purepac Inc 4,000
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
700 International Lottery & Totalizator Sy 2,188
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
600 Whittaker Corp 13,200
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
2,600 Sterling Chemicals Inc 30,225
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
600 Roanoke Electric Steel Corp 6,750
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,000 Carlisle Companies Inc 38,250
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
600 Carpenter Technology Corp 40,875
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,150 Material Sciences Corp 23,431
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
600 West Inc 16,800
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
500 Marsam Pharmaceuticals Inc 9,500
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
600 LSB Industries Inc 3,675
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
2,000 Liposome Company Inc 21,750
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,100 Lukens Inc 35,475
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
900 Lone Star Industries Inc 19,350
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
500 Lufkin Industries Inc 9,375
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,200 Medusa Corp 29,850
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
420 The Raymond Corp 8,610
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
2,500 Lawter International Inc 30,000
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,700 L A Gear Inc 4,038
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
400 Lesco Inc 6,250
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,400 Calmat Co 29,050
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
134 Casino Data Systems 1,926
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
600 Matrix Pharmaceuticals Inc 8,100
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
300 Cambrex Corp 10,125
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,100 Clarcor Inc 25,163
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,600 Autotote Corp 5,099
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
2,100 Calgon Carbon Corp 25,463
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,198 Ligand Pharmaceuticals Inc 9,884
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
600 The Manitowoc Company Inc 17,325
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
500 Learonal Inc 10,563
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
300 Liqui-Box Corp 9,600
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
700 McWhorter Technologies Inc 10,500
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
500 McGrath Rentcorp 8,750
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,000 Maybelline Inc 20,500
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
500 Life Technologies Inc 11,250
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
700 Energy Ventures Inc 12,600
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
700 Texas Industries Inc 27,213
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
3,500 Western Digital Corp 60,813
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,600 Caraustar Industries Inc 28,800
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,000 Camco International Inc 23,375
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
430 Lifetime Hoan Corp 4,838
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
700 Cascade Corp 11,200
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,750 Lilly Industries Inc 20,563
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
300 Lindsay Manufacturing Co 10,425
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
400 Bush Boake Allen Inc 12,150
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
600 Tennant Co 15,713
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,200 North American Biologicals Inc 11,250
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
400 Kysor Industrial Corp 8,300
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
2,700 Scios Nova Inc 10,967
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
900 A L Pharma Inc 16,709
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,400 Pentair Inc 60,900
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
300 Butler Manufacturing Co 12,450
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
300 Ameron Inc 10,875
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
600 Amcast Industrial Corp 11,400
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,100 Regeneron Pharmaceuticals Inc 9,900
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,800 Belden Inc 48,600
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
900 American Safety Razor Co 10,575
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
500 Sealright Company Inc 8,375
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
500 Bic Corp 19,625
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,100 Paxar Corp 19,663
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,100 Baldwin Technology Inc 5,568
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
800 Bally Gaming International Inc 8,200
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
500 Railtex Inc 11,875
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
700 Russ Berrie & Company Inc 9,713
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,400 Scotts Co 30,625
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
600 American Pacific Corp 2,850
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
300 Shiloh Corp 3,188
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
900 Nortek Inc 7,763
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
900 Paragon Trade Brands Inc 12,938
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
800 Carlisle Plastics Inc 3,600
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,200 Novellus Systems Inc 81,300
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,500 Lone Star Technologies Inc 12,000
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
800 O'Sullivan Corp 9,200
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
400 Biocraft Labs Inc 7,550
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
2,600 Bio-Technology General Corp 7,800
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,500 Northwestern Steel and Wire Co 12,188
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
900 Xircom Inc 9,113
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,200 Brush Wellman Inc 25,650
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
800 Medco Research Inc 11,000
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,000 Noven Pharmaceuticals Inc 7,750
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
600 NS Group Inc 2,025
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
800 Nu-Kote Holding Inc 25,400
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
833 Micom Communications Corp 5,415
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,100 Libbey Inc 22,825
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,400 Liposome Technology Inc 14,350
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
700 Medimmune Inc 10,063
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
400 Maxxim Medical Inc 6,000
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,800 BWIP Holding Inc 33,300
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MINING 105
0.7% 200 Firstmiss Gold Inc
4,000 *
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MINING 105
500 Ashland Coal Inc 13,375
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MINING 105
900 Geneva Steel Co 7,425
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MINING 105
800 Cleveland-Cliffs Inc 30,800
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MINING 105
600 Addington Resources Inc 8,850
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MINING 105
1,000 Vigoro Corp 41,500
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MINING 105
14,500 Sunshine Mining Co 25,375
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MINING 105
3,700 Amax Gold Inc 20,350
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MINING 105
400 Maxxam Inc 14,300
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MINING 105
1,200 Coeur D'Alene Mines Co 20,850
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MINING 105
900 Dravo Corp 13,275
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MINING 105
800 MK Gold Co 2,800
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MINING 105
1,100 AMCOL International Corp 17,600
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MINING 105
600 FMC Gold Co 2,400
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MINING 105
900 Royal Gold Inc 7,313
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
MINING 105
3,600 Helca Mining Co 37,350
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
OIL & GAS 100
3.2% 1,800 Tesoro Petroleum Corp
18,000 *
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
OIL & GAS 100
1,800 Wainoco Oil Corp 7,425
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
OIL & GAS 100
600 Forest Oil Corp 975
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
OIL & GAS 100
17,600 XCL Ltd 14,291
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
OIL & GAS 100
500 ELCOR Corp 11,125
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
OIL & GAS 100
4,100 Weatherford International Inc 51,763
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
OIL & GAS 100
6,300 Rowan Companies Inc 51,188
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
OIL & GAS 100
600 Vintage Petroleum Inc 11,250
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
OIL & GAS 100
400 Edisto Resources Corp 2,900
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
OIL & GAS 100
600 Stone Energy Corp 7,125
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
OIL & GAS 100
1,300 Tuboscope Vetco International Corp 8,288
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
OIL & GAS 100
2,120 United Meridian Corp 32,860
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
OIL & GAS 100
700 Wiser Oil Co 9,538
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
OIL & GAS 100
700 Plains Petroleum Co 20,738
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
OIL & GAS 100
500 Tide West Oil Co 5,750
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
OIL & GAS 100
2,500 Kaneb Services Inc 5,313
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
OIL & GAS 100
860 American Exploration Co 9,353
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
OIL & GAS 100
2,218 BJ Services Co 50,460
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
OIL & GAS 100
600 Crown Central Petroleum Corp 9,075
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
OIL & GAS 100
1,900 Benton Oil & Gas Co 26,363
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
OIL & GAS 100
1,500 Devon Energy Corp 32,250
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
OIL & GAS 100
800 Texas Meridian Resources Corp 8,600
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
OIL & GAS 100
700 Nuevo Energy Co 14,088
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
OIL & GAS 100
12,400 Global Marine Inc 71,300
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
OIL & GAS 100
500 Phoenix Resource Companies Inc 15,875
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
OIL & GAS 100
600 St Mary Land & Exploration Co 7,500
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
OIL & GAS 100
2,200 Global Natural Resources Inc 23,650
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
OIL & GAS 100
1,300 Box Energy Corp 11,050
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
OIL & GAS 100
1,900 Tatham Offshore Inc 6,650
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
OIL & GAS 100
4,800 Mesa Inc 22,800
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
OIL & GAS 100
1,000 Pool Energy Services Co 8,250
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
OIL & GAS 100
1,000 Gerrity Oil & Gas Corp 3,375
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
OIL & GAS 100
300 Global Industries Ltd 6,675
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
OIL & GAS 100
1,700 Coda Energy Inc 11,688
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
OIL & GAS 100
500 AER Energy Resources Inc 2,563
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
OIL & GAS 100
300 Castle Energy Corp 3,113
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
OIL & GAS 100
1,200 Newfield Exploration Co 34,050
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
OIL & GAS 100
700 Newpark Resources Inc 14,700
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
OIL & GAS 100
1,700 Cabot Oil & Gas Corp 23,375
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
OIL & GAS 100
500 Giant Industries Inc 4,250
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
OIL & GAS 100
1,000 Catalytica Inc 3,250
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
OIL & GAS 100
1,900 Snyder Oil Corp 23,988
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
OIL & GAS 100
1,100 Brown (Tom) Inc 16,363
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
OIL & GAS 100
2,800 Smith International Inc 46,900
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
OIL & GAS 100
200 Holly Corp 4,625
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
OIL & GAS 100
500 Hugoton Energy Corp 4,125
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
OIL & GAS 100
800 HS Resources Inc 11,200
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
OIL & GAS 100
1,300 Sonat Offshore Drilling Inc 37,375
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
OIL & GAS 100
4,675 Noble Drilling Corp 34,478
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
OIL & GAS 100
1,300 NL Industries Inc 17,388
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
OIL & GAS 100
700 Seitel Inc 21,700
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
OIL & GAS 100
5,700 Nabors Industries Inc 47,025
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
OIL & GAS 100
4,000 Reading & Bates Corp 37,000
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
OIL & GAS 100
200 Hondo Oil & Gas Co 3,600
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
OIL & GAS 100
3,300 Marine Drilling Companies Inc 12,992
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
OIL & GAS 100
600 Production Operators Corp 18,900
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
OIL & GAS 100
4,200 Parker Drilling Co 22,050
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
OIL & GAS 100
500 Dual Drilling Co 4,938
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
OIL & GAS 100
800 Cross Timbers Oil Co 12,700
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
OIL & GAS 100
1,900 Helmerich & Payne Inc 56,050
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
OIL & GAS 100
2,400 Quaker State Corp 36,000
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
OIL & GAS 100
1,400 Berry Petroleum Co 13,650
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
OTHER TRANS. SERVICES 165
0.8% 1,200 American Freightways Corp
24,600 *
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
OTHER TRANS. SERVICES 165
300 USA Truck Inc 4,575
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
OTHER TRANS. SERVICES 165
492 Fritz Companies Inc 28,874
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
OTHER TRANS. SERVICES 165
500 Heartland Express Inc 12,750
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
OTHER TRANS. SERVICES 165
200 Celadon Group Inc 3,050
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
OTHER TRANS. SERVICES 165
1,300 TNT Freightways Corp 25,838
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
OTHER TRANS. SERVICES 165
900 Expeditors International of Washington 20,250
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
OTHER TRANS. SERVICES 165
1,000 Harper Group Inc 16,750
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
OTHER TRANS. SERVICES 165
1,100 Careline Inc 9,075
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
OTHER TRANS. SERVICES 165
200 DIY Home Wholesale Inc 1,375
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
OTHER TRANS. SERVICES 165
400 Rural / Metro Corp 8,900
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
OTHER TRANS. SERVICES 165
600 M S Carriers Inc 11,400
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
OTHER TRANS. SERVICES 165
1,300 PHH Corp 57,850
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
OTHER TRANS. SERVICES 165
1,000 Landstar System Inc 25,750
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
OTHER TRANS. SERVICES 165
700 Frozen Food Express Industries Inc 6,781
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
OTHER TRANS. SERVICES 165
500 Matlack Systems Inc 5,000
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
OTHER TRANS. SERVICES 165
900 Swift Transportation Company Inc 15,075
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
OTHER TRANS. SERVICES 165
200 Landair Services Inc 2,700
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
OTHER TRANS. SERVICES 165
300 Old Dominion Freight Line Inc 3,825
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
OTHER TRANS. SERVICES 165
3,900 Greyhound Lines Inc 19,500
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RAILROADS 175
0.3% 500 ABC Rail Products Corp
11,500 *
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RAILROADS 175
1,200 Wisconsin Central Transportation Corp 58,800
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RAILROADS 175
300 Florida East Coast Industries Inc 22,125
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
REAL ESTATE 150
1.7% 1,000 Urban Shopping Centers Inc
20,750
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
REAL ESTATE 150
500 JDN Realty Corp 10,188
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
REAL ESTATE 150
300 Alexanders Inc 16,650
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
REAL ESTATE 150
800 Walden Residential Properties Inc 14,700
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
REAL ESTATE 150
800 Gables Residential Trust 16,400
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
REAL ESTATE 150
200 Penn Virginia Corp 5,625
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
REAL ESTATE 150
300 Urban Outfitters Inc 6,525
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
REAL ESTATE 150
1,300 Mills Corp 25,838
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
REAL ESTATE 150
1,500 Resource Mortgage Capital Inc 28,688
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
REAL ESTATE 150
700 Atlantic Gulf Communities Corp 4,550
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
REAL ESTATE 150
2,900 CWM Mortgage Holdings Inc 36,975
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
REAL ESTATE 150
400 Chateau Properties Inc 8,350
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
REAL ESTATE 150
1,300 Post Properties Inc 39,325
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
REAL ESTATE 150
600 Mid-America Apartment Communities Inc 15,000
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
REAL ESTATE 150
1,800 General Growth Properties Inc 36,675
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
REAL ESTATE 150
500 Avatar Holdings Inc 18,250
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
REAL ESTATE 150
1,300 Amresco Inc 12,188
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
REAL ESTATE 150
200 Grow Biz International Inc 2,150
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
REAL ESTATE 150
900 Irvine Apartment Communities Inc 15,525
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
REAL ESTATE 150
800 ROC Communities Inc 17,700
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
REAL ESTATE 150
1,100 Del Webb Corp 25,575
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
REAL ESTATE 150
700 Insignia Financial Group Inc 18,725
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
REAL ESTATE 150
4,000 Catellus Development Corp 25,500
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
REAL ESTATE 150
400 Kaiser Ventures Inc 2,550
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
REAL ESTATE 150
1,800 Trustmark Corp 31,725
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
REAL ESTATE 150
800 Trinet Corporate Realty Trust Inc 22,400
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
REAL ESTATE 150
2,000 Spieker Properties Inc 44,750
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
REAL ESTATE 150
1,000 CCB Financial Corp 41,750
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
REAL ESTATE 150
600 Universal Health Realty Income Trust 9,675
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
REAL ESTATE 150
1,300 Burnham Pacific Properties Inc 17,550
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
REAL ESTATE 150
300 Forest City Enterprises Inc 11,513
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
5.6% 700 Hills Stores Co
16,800 *
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
500 American Recreation Company Holdings I 4,000
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
1,500 TPI Enterprises Inc 6,281
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
1,375 Williams-Sonoma Inc 30,250
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
300 Quality Food Centers Inc 6,000
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
300 Krystal Co 1,800
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
600 Landrys Seafood Restaurant Co 12,000
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
1,900 MacFrugal's Bargains-Close-Outs Inc 33,250
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
500 Proffitts Inc 14,875
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
600 Brookstone Inc 4,125
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
500 Sun Television Appliances Inc 3,750
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
2,200 Americredit Corp 24,475
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
2,600 Musicland Stores Corp 26,650
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
3,000 Payless Cashways Inc 19,125
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
1,900 Applebees International Inc 48,925
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
800 Hi-Lo Automotive Inc 8,400
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
300 Syms Corp 2,175
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
200 Papa John's International Inc 7,000
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
200 Prime Retail Inc 2,450
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
1,900 Petroleum Heat & Power Co 15,675
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
1,700 Sunglass Hut International Inc 59,500
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
1,200 TCBY Enterprises Inc 7,200
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
600 Piccadilly Cafeterias Inc 5,250
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
2,930 Pier 1 Imports Inc 27,103
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
300 Pollo Tropical Inc 2,400
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
3,200 Flagstar Companies Inc 18,000
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
800 SPX Corp 9,100
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
1,000 National Vision Associates Ltd 3,625
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
900 Apple South Inc 17,550
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
1,300 Venture Stores Inc 12,838
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
300 Discount Auto Parts Inc 7,613
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
600 EZCORP Inc 2,850
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
200 Duracraft Corp 5,350
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
1,400 Duty Free International Inc 12,250
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
1,700 Donaldson Company Inc 44,413
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
1,300 Valuevision International Inc 5,931
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
1,300 Edison Brothers Stores Inc 15,600
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
600 Vicorp Restaurants Inc 8,400
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
400 Delchamps Inc 7,700
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
2,900 Foodmaker Inc 15,950
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
500 Ingles Markets Inc 5,375
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
600 Hometown Buffet Inc 6,825
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
200 Mens Wearhouse Inc 5,500
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
500 St John Knits Inc 22,438
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
350 Hollywood Entertainment Corp 15,750
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
1,100 Express Scripts Inc 38,775
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
700 Showbiz Pizza Time Inc 8,138
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
500 DF&R Restaurants Inc 11,063
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
400 Bon-Ton Stores Inc 4,175
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
500 Bertuccis Inc 3,844
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
1,300 NPC International Inc 7,963
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
3,500 Broadway Stores Inc 18,813
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
200 Transworld Entertainment Corp 700
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
300 Todays Man Inc 3,488
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
1,200 Neiman Marcus Group Inc 17,100
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
900 Taco Cabana Inc 4,950
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
375 UNO Restaurant Corp 3,891
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
500 Tandycrafts Inc 3,875
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
500 Orchard Supply Hardware Stores Corp 5,625
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
800 Value City Department Stores Inc 6,100
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
700 Books-a-Million Inc 10,938
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
1,400 Filenes Basement Corp 4,900
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
500 Davco Restaurants Inc 6,500
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
600 Danmark International Inc 3,525
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
400 Deb Shops Inc 1,300
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
500 Fabri-Centers of America Inc 10,375
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
2,700 Bombay Company Inc 21,263
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
1,100 Fays Drug Inc 8,388
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
3,200 Merry-Go-Round Enterprises Inc 2,998
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
2,200 Fastenal Co 60,086
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
800 Cole National Corp 8,300
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
800 United Retail Group Inc 5,500
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
550 BMC West Corp 8,250
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
3,500 Consolidated Stores Corp 73,063
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
100 Buckle Inc 1,563
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
1,600 Lone Star Steakhouse & Saloon Inc 48,499
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
1,800 Jan Bell Marketing Inc 4,162
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 155
600 IHOP Corp 15,450
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
1,200 Aldila Inc 6,150
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
400 Wolohan Lumber Co 4,700
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
1,050 Arbor Drugs Inc 16,800
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
1,900 Buffets Inc 26,125
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
700 Stein Mart Inc 9,450
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
800 Au Bon Pain Inc 9,700
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
2,900 Checkers Drive-in Restaurants Inc 5,617
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
500 Freds Inc 5,000
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
600 Blair Corp 20,625
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
400 Fresh Choice Inc 4,200
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
1,000 Baker (J) Inc 10,125
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
400 Rexall Sundown Inc 3,950
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
500 Rex Stores Corp 7,000
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
400 Shoe Carnival Inc 2,300
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
700 Strawbridge & Clothier 14,000
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
500 Sport Supply Group Inc 6,250
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
1,300 Shopko Stores Inc 13,975
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
225 Regional Acceptance Corp 3,994
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
850 Sbarro Inc 19,763
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
1,200 Stant Corp 12,600
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
300 Lillian Vernon Corp 5,513
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
700 Rhodes Inc 6,038
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
1,100 TJ International Inc 20,625
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
2,600 Zale Corp 35,100
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
1,000 Lechters Corp 15,500
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
1,700 Sizzler International Inc 10,838
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
850 Sports & Recreation Inc 11,156
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
1,500 Smiths Food & Drug Centers Inc 29,625
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
900 Friedmans Inc 17,100
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
1,000 Good Guys Inc 11,000
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
208 Frischs Restaurants Inc 1,950
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
400 Copart Inc 9,100
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
1,200 Caldor Corp 21,450
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
1,600 Caseys General Stores Inc 28,800
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
200 Crown Books Corp 2,250
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
4,000 Ryan's Family Steak Houses Inc 31,500
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
900 Ruddick Corp 18,675
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
1,800 Luby's Cafeterias Inc 36,225
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
900 CKE Restaurants Inc 8,100
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
1,000 Whole Foods Market Inc 15,250
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
1,686 General Host Corp 10,327
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
1,200 International Dairy Queen Inc 23,400
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
400 Gottschalks Inc 2,650
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
500 Goodys Family Clothing Inc 5,500
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
500 Sonic Corp 13,750
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
530 Genovese Drug Stores Inc 6,029
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
4,600 Bruno's Inc 53,475
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
2,300 Waban Inc 34,213
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
1,900 Gencorp Inc 20,425
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
1,600 Hancock Fabrics Inc 14,600
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
1,000 Big B Inc 14,125
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
2,200 Hechinger Co 15,811
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
700 Haverty Furniture Inc 7,175
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
1,600 Cato Corp 13,000
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
2,100 Cash America International Inc 15,488
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
1,280 Triarc Companies Inc 20,000
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
148 Dart Group Corp 12,488
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
3,300 Hanover Direct Inc 9,488
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
1,400 Carson Pirie Scott & Co 22,925
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
3,400 Boston Chicken Inc 82,236
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
1,600 Claire's Stores Inc 29,000
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
600 Cheesecake Factory Inc 15,450
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
300 Chicos Fas Inc 1,275
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
RETAIL TRADE 207
250 Sportmart Inc 2,516
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
SECURITIES & COMMODITIE 145
1.0% 600 Inter-Regional Financial Group
Inc 17,700
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
SECURITIES & COMMODITIE 145
1,300 Duff & Phelps Corp 13,975
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
SECURITIES & COMMODITIE 145
500 Eaton Vance Corp 16,125
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
SECURITIES & COMMODITIE 145
700 Downey Financial Corp 12,775
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
SECURITIES & COMMODITIE 145
500 BHC Financial Inc 8,188
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
SECURITIES & COMMODITIE 145
800 Legg Mason Inc 21,600
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
SECURITIES & COMMODITIE 145
1,200 Great Financial Corp 22,800
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
SECURITIES & COMMODITIE 145
700 Capital Guaranty Corp 12,600
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
SECURITIES & COMMODITIE 145
400 Jefferies Group Inc 14,400
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
SECURITIES & COMMODITIE 145
1,000 SEI Corp 22,500
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
SECURITIES & COMMODITIE 145
750 Quick & Reilly Group Inc 27,188
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
SECURITIES & COMMODITIE 145
1,300 Capital American Financial Corp 29,575
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
SECURITIES & COMMODITIE 145
400 Waterhouse Investors Services Inc 9,200
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
SECURITIES & COMMODITIE 145
500 McDonald & Co Investments Inc 7,938
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
SECURITIES & COMMODITIE 145
100 Value Line Inc 3,275
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
SECURITIES & COMMODITIE 145
700 Leader Financial Corp 19,863
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
SECURITIES & COMMODITIE 145
1,200 Morgan Keegan Inc 14,700
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
SECURITIES & COMMODITIE 145
1,000 Alex Brown Inc 41,500
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
SECURITIES & COMMODITIE 145
1,000 Raymond James Financial Inc 19,375
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
SECURITIES & COMMODITIE 145
800 Piper Jaffray Companies Inc 12,100
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
SEWERAGE SYSTEMS 95
0.1%
1,000 Molten Metal Technology Inc 23,250
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
TELEPHONE 85
0.1%
1,900 Lincoln Telecommunications Co 29,925
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
TRANSPORTATION 157
0.0%
800 Spartan Motors Inc 7,000
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
TRANSPORTATION EQUIPMEN 170
1.6%
1,100 Avondale Industries Inc 8,938
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
TRANSPORTATION EQUIPMEN 170
800 Borg-Warner Automotive Inc 22,800
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
TRANSPORTATION EQUIPMEN 170
3,100 Roadmaster Industries Inc 9,300
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
TRANSPORTATION EQUIPMEN 170
1,000 Automotive Industries Holding Inc 27,125
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
TRANSPORTATION EQUIPMEN 170
1,700 Arvin Industries Inc 38,038
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
TRANSPORTATION EQUIPMEN 170
1,000 Gentex Corp 19,750
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
TRANSPORTATION EQUIPMEN 170
220 Varlen Corp 5,170
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
TRANSPORTATION EQUIPMEN 170
700 Johnstown American Industries Inc 7,263
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
TRANSPORTATION EQUIPMEN 170
400 Thor Industries Inc 7,900
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
TRANSPORTATION EQUIPMEN 170
1,250 Wabash National Corp 38,906
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
TRANSPORTATION EQUIPMEN 170
1,100 Teleflex Inc 47,300
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
TRANSPORTATION EQUIPMEN 170
1,300 Thiokol Corp 39,325
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
TRANSPORTATION EQUIPMEN 170
1,000 Borg-Warner Security Corp 9,000
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
TRANSPORTATION EQUIPMEN 170
1,300 UNC Inc 6,988
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
TRANSPORTATION EQUIPMEN 170
1,300 Fruehauf Trailer Corp 4,388
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
TRANSPORTATION EQUIPMEN 170
600 Oshkosh Truck Corp 7,425
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
TRANSPORTATION EQUIPMEN 170
1,200 AAR Corp 21,450
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
TRANSPORTATION EQUIPMEN 170
200 West Marine Inc 5,125
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
TRANSPORTATION EQUIPMEN 170
400 Durakon Industries Inc 6,100
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
TRANSPORTATION EQUIPMEN 170
1,200 Standard Products Co 26,100
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
TRANSPORTATION EQUIPMEN 170
500 Detroit Diesel Corp 10,563
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
TRANSPORTATION EQUIPMEN 170
400 Excel Industries Inc 5,800
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
TRANSPORTATION EQUIPMEN 170
2,200 Arctco Inc 25,850
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
TRANSPORTATION EQUIPMEN 170
400 RPC Energy Services Inc 3,600
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
TRANSPORTATION EQUIPMEN 170
1,200 BE Aerospace Inc 10,650
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
TRANSPORTATION EQUIPMEN 170
500 Coachmen Industries Inc 7,625
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
TRANSPORTATION EQUIPMEN 170
1,300 Rohr Industries Inc 18,688
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
TRANSPORTATION EQUIPMEN 170
1,000 Huffy Corp 13,000
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
TRANSPORTATION EQUIPMEN 170
600 Standard Motor Products Inc 12,150
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
TRANSPORTATION EQUIPMEN 170
700 Skyline Corp 12,688
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
TRANSPORTATION EQUIPMEN 170
700 Hayes Wheels International Inc 14,875
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
TRANSPORTATION EQUIPMEN 170
1,200 Smith (A O) Corp 28,200
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
TRANSPORTATION EQUIPMEN 170
1,200 Simpson Industries Inc 13,500
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
TRANSPORTATION EQUIPMEN 170
1,000 Winnebago Industries Inc 8,750
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
TRANSPORTATION EQUIPMEN 170
1,400 Orbital Sciences Corp 25,550
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
WATER 185
0.3% 2,100 OMI Corp
13,913 *
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
WATER 185
2,100 Kirby Corp 33,338
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
WATER 185
600 Hornbeck Offshore Services Inc 9,450
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
WATER 185
200 Seacor Holdings Inc 4,900
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
WATER 185
2,000 American President Companies Ltd 47,500
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
WATER 185
300 International Shipholding Corp 6,263
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
WATER 185
1,000 American Classic Voyager Co 9,750
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
WATER - SUPPLY 95
0.3% 500 Consumers Water Co
8,438
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
WATER - SUPPLY
95
700 Philadelphia Suburban Corp 12,950
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
WATER - SUPPLY
95
600 Southern California Water Co 11,625
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
WATER - SUPPLY
95
500 California Water Service Co 15,750
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
WATER - SUPPLY
95
1,800 United Water Resources Inc 23,850
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
WATER - SUPPLY
95
500 Aquarion Co 11,500
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
WATER - SUPPLY
95
400 IWC Resources Corp 7,600
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
WATER - SUPPLY
95
400 E'Town Corp 10,850
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
WHOLESALE TRADE - INDL 197
1.0% 700 Nautica Enterprises Inc
25,375 *
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
WHOLESALE TRADE - INDL 197
783 Healthdyne Technologies Inc 8,026
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
WHOLESALE TRADE - INDL 197
400 Cygne Designs Inc 2,350
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
WHOLESALE TRADE - INDL 197
600 Bindley Western Industries Inc 9,525
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
WHOLESALE TRADE - INDL 197
400 Sodak Gaming Inc 6,950
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
WHOLESALE TRADE - INDL 197
700 Castle A M & Co 12,688
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
WHOLESALE TRADE - INDL 197
1,100 Igen Inc 6,463
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
WHOLESALE TRADE - INDL 197
1,280 Foxmeyer Health Corp 22,880
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
WHOLESALE TRADE - INDL 197
1,150 Pioneer Standard Electronics Inc 28,175
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
WHOLESALE TRADE - INDL 197
700 Patterson Dental Co 16,625
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
WHOLESALE TRADE - INDL 197
200 Audiovox Corp 1,000
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
WHOLESALE TRADE - INDL 197
900 Wyle Electronics 25,313
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
WHOLESALE TRADE - INDL 197
400 TFC Enterprises Inc 4,850
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
WHOLESALE TRADE - INDL 197
540 Bell Industries Inc 11,543
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
WHOLESALE TRADE - INDL 197
200 O Reilly Automotive Inc 5,625
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
WHOLESALE TRADE - INDL 197
1,900 TBC Corp 20,425
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
WHOLESALE TRADE - INDL 197
1,400 Top Source Technologies Inc 9,712
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
WHOLESALE TRADE - INDL 197
500 Business Records Corp 18,500
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
WHOLESALE TRADE - INDL 197
850 Microage Inc 12,113
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
WHOLESALE TRADE - INDL 197
600 Tractor Supply Co 11,550
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
WHOLESALE TRADE - INDL 197
900 OM Group Inc 25,650
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
WHOLESALE TRADE - INDL 197
600 Lawson Products Inc 15,900
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
WHOLESALE TRADE - INDL 197
600 Bearings Inc 18,375
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
WHOLESALE TRADE - INDL 197
800 Hunt Manufacturing Co 12,200
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
WHOLESALE TRADE - INDL 197
700 Barrett Resources Corp 16,275
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
WHOLESALE TRADE -CONSUM 209
1.7% 500 Getty Petroleum Corp
5,625 *
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
WHOLESALE TRADE -CONSUM 209
1,100 Egghead Inc 14,713
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
WHOLESALE TRADE -CONSUM 209
1,200 Fisher Scientific International Inc 39,750
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
WHOLESALE TRADE -CONSUM 209
1,000 APS Holding Corp 26,375
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
WHOLESALE TRADE -CONSUM 209
900 Compucom Systems Inc 4,275
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
WHOLESALE TRADE -CONSUM 209
500 Forschner Group Inc 5,250
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
WHOLESALE TRADE -CONSUM 209
500 Rexel Inc 4,750
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
WHOLESALE TRADE -CONSUM 209
2,500 Tech Data Corp 28,593
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
WHOLESALE TRADE -CONSUM 209
800 Super Food Services Inc 9,500
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
WHOLESALE TRADE -CONSUM 209
500 Sullivan Dental Products Inc 4,250
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
WHOLESALE TRADE -CONSUM 209
700 KCS Energy Inc 14,963
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
WHOLESALE TRADE -CONSUM 209
1,000 Univar Corp 14,500
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
WHOLESALE TRADE -CONSUM 209
400 Custom Chrome Inc 8,000
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
WHOLESALE TRADE -CONSUM 209
800 VWR Corp 7,600
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
WHOLESALE TRADE -CONSUM 209
600 Syncor International Corp 6,525
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
WHOLESALE TRADE -CONSUM 209
400 ACX Technologies Inc 16,700
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
WHOLESALE TRADE -CONSUM 209
200 ADESA Corp 3,400
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
WHOLESALE TRADE -CONSUM 209
600 Safeguard Scientifics Inc 24,900
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
WHOLESALE TRADE -CONSUM 209
1,400 Stanhome Inc 46,200
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
WHOLESALE TRADE -CONSUM 209
2,050 Owens & Minor Inc 25,625
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
WHOLESALE TRADE -CONSUM 209
1,050 Rykoff-Sexton Inc 18,506
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
WHOLESALE TRADE -CONSUM 209
700 Smart & Final Inc 11,988
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
WHOLESALE TRADE -CONSUM 209
408 Standard Commercial Corp 6,018
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
WHOLESALE TRADE -CONSUM 209
1,400 Richfood Holdings Inc 30,975
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
WHOLESALE TRADE -CONSUM 209
2,400 Handleman Co 23,100
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
WHOLESALE TRADE -CONSUM 209
1,400 Kaman Corp 17,850
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
WHOLESALE TRADE -CONSUM 209
500 Helene Curtis Industries Inc 14,250
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
WHOLESALE TRADE -CONSUM 209
200 Barnes Group Inc 8,050
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
WHOLESALE TRADE -CONSUM 209
3,000 Bergen Brunswig Corp 68,625
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
WHOLESALE TRADE -CONSUM 209
300 Hughes Supply Inc 6,600
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
WHOLESALE TRADE -CONSUM 209
600 Fort Wayne National Corp 16,650
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
WHOLESALE TRADE -CONSUM 209
1,033 Commercial Metals Co 27,891
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
WHOLESALE TRADE -CONSUM 209
800 Nash Finch Co 13,000
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
WHOLESALE TRADE -CONSUM 209
1,900 Merisel Inc 14,488
*
12
Small-Cap Index Portfolio 400 COMMON STOCK 50
WHOLESALE TRADE -CONSUM 209
700 Kent Electronics Corp 26,513
*********************
12
Small-Cap Index Portfolio 400 SHORT-TERM INVESTMENT 10
3.3%FOREIGN BANKS 130 3.3%
1,199,000 Canadian Imperial Bank of Commerce *********1,199,000
1,199,000 ********************
12
Small-Cap Value Portfolio 425 COMMON STOCK 50
90.8%CONSUMER SERVICES 211 4.7%
14,800 Devry Inc 296,000
*
13
Small-Cap Value Portfolio 425 COMMON STOCK 50
CONSUMER SERVICES 211
17,475 Angelica Corp 436,875
13
Small-Cap Value Portfolio 425 COMMON STOCK 50
ENVIRONMENTAL SERVICES 201
2.9%
28,200 Safety-Kleen Corp 454,725
13
Small-Cap Value Portfolio 425 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
2.0%
15,300 Merry Land & Investment Company Inc 311,738
13
Small-Cap Value Portfolio 425 COMMON STOCK 50
INDUSTRIAL SERVICES 199
5.6%
1,900 Omnicom Group Inc 115,188
13
Small-Cap Value Portfolio 425 COMMON STOCK 50
INDUSTRIAL SERVICES 199
21,400 Sotheby's Holdings Inc 291,575
13
Small-Cap Value Portfolio 425 COMMON STOCK 50
INDUSTRIAL SERVICES 199
18,850 Ecolab Inc 461,825
13
Small-Cap Value Portfolio 425 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
26.1%
21,854 Central Newspapers Inc 647,425
13
Small-Cap Value Portfolio 425 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
14,425 CCH Inc 308,334
13
Small-Cap Value Portfolio 425 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
44,400 Interface Inc 555,000
13
Small-Cap Value Portfolio 425 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
20,725 Russell Corp 595,844
13
Small-Cap Value Portfolio 425 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
24,800 Harte-Hanks Communications Inc 626,200
13
Small-Cap Value Portfolio 425 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
76,335 American Media Inc 524,801
13
Small-Cap Value Portfolio 425 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
6,550 Leggett & Platt Inc 288,200
13
Small-Cap Value Portfolio 425 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
21,750 Miller (Herman) Inc 538,313
13
Small-Cap Value Portfolio 425 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
20.8%
34,381 Shorewood Packaging Corp 502,822
*
13
Small-Cap Value Portfolio 425 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
16,700 Armor All Products Corp 288,075
13
Small-Cap Value Portfolio 425 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
20,607 Sealright Company Inc 345,167
13
Small-Cap Value Portfolio 425 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
22,586 General Binding Corp 395,255
13
Small-Cap Value Portfolio 425 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
10,925 Oil-Dri Corp of America 162,509
13
Small-Cap Value Portfolio 425 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
15,600 Johnson Worldwide Associates Inc 366,600
*
13
Small-Cap Value Portfolio 425 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
35,800 Specialty Equipment Companies Inc 460,925
*
13
Small-Cap Value Portfolio 425 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
16,935 First Brands Corp 726,088
13
Small-Cap Value Portfolio 425 COMMON STOCK 50
REAL ESTATE 150
4.2%
33,690 The Rouse Co 661,166
13
Small-Cap Value Portfolio 425 COMMON STOCK 50
RETAIL TRADE 207
11.7%
25,003 Bob Evans Farms Inc 509,436
13
Small-Cap Value Portfolio 425 COMMON STOCK 50
RETAIL TRADE 207
21,919 Longs Drug Stores Corp 821,963
13
Small-Cap Value Portfolio 425 COMMON STOCK 50
RETAIL TRADE 207
76,800 Payless Cashways Inc 489,600
*
13
Small-Cap Value Portfolio 425 COMMON STOCK 50
SECURITIES & COMMODITIE 145
4.5%
16,550 Duff & Phelps Corp 177,913
13
Small-Cap Value Portfolio 425 COMMON STOCK 50
SECURITIES & COMMODITIE 145
13,650 T Rowe Price & Associates Inc 525,525
13
Small-Cap Value Portfolio 425 COMMON STOCK 50
WHOLESALE TRADE - INDL 197
2.0%
20,250 Hunt Manufacturing Co 308,813
13
Small-Cap Value Portfolio 425 COMMON STOCK 50
WHOLESALE TRADE -CONSUM 209
6.4%
24,899 Bergen Brunswig Corp 569,565
13
Small-Cap Value Portfolio 425 COMMON STOCK 50
WHOLESALE TRADE -CONSUM 209
12,950 Stanhome Inc 427,350
********************
13
Small-Cap Value Portfolio 425 SHORT-TERM INVESTMENT 10
9.2%FOREIGN BANKS 130
4.7%
736,000 Canadian Imperial Bank of Commerce 736,000
13
Small-Cap Value Portfolio 425 SHORT-TERM INVESTMENT 10
SECURITIES & COMMODITIE 145
4.5%
700,000 Merrill Lynch & Company Inc 699,302 1,435,302
1,435,302 ********************
13
T.Rowe Price Equity/Income 445 BONDS 20
6.1%COMMUNICATIONS 190
0.8%
30,000 Continental Cablevision 30,150
September 1, 2Senior Debentures 9.000% 14
T.Rowe Price Equity/Income 445 BONDS 20
COMMUNICATIONS 190
10,000 Time Warner Inc 10,413
January 10, 20Senior Notes 8.750% 14
T.Rowe Price Equity/Income 445 BONDS 20
MFTG - CONSUMER PRODS. 215
0.5%
25,000 Westpoint Stevens Inc 24,625
December 15, 2Senior Notes 8.750% 14
T.Rowe Price Equity/Income 445 BONDS 20
MFTG - INDUSTRIAL PRODS 195
0.5%
25,000 Coca-Cola Bottling Co of the Southwest 24,624
November 15, 2Senior Subordinated No 9.000% 14
T.Rowe Price Equity/Income 445 BONDS 20
OIL & GAS 100
0.6%
30,000 Crown Central Petroleum Corp 31,350
February 1, 20Senior Notes 10.875% 14
T.Rowe Price Equity/Income 445 BONDS 20
U.S. GOVERNMENTS
5 3.6%
50,000 United States of America 53,422
January 31, 20Treasury Notes 7.750% 14
T.Rowe Price Equity/Income 445 BONDS 20
U.S. GOVERNMENTS
5
75,000 United States of America 75,973
March 31, 1997Treasury Notes 6.625% 14
T.Rowe Price Equity/Income 445 BONDS 20
U.S. GOVERNMENTS
5
25,000 United States of America 26,715
August 15, 200Treasury Notes 7.250% 14
T.Rowe Price Equity/Income 445 BONDS 20
U.S. GOVERNMENTS
5
20,000 United States of America 20,650 297,922
281,905 November 15,
1Treasury Notes 7.375% 14
T.Rowe Price Equity/Income 445 COMMON STOCK 50
77.6%COMMUNICATIONS 190
0.3%
300 Comsat Corp 5,888
14
T.Rowe Price Equity/Income 445 COMMON STOCK 50
COMMUNICATIONS 190
400 Pacific Telesis Group 10,700
14
T.Rowe Price Equity/Income 445 COMMON STOCK 50
CONSUMER SERVICES 211
0.5%
300 Block (H & R) Inc 12,338
14
T.Rowe Price Equity/Income 445 COMMON STOCK 50
CONSUMER SERVICES 211
700 Hanson PLC 12,338
14
T.Rowe Price Equity/Income 445 COMMON STOCK 50
CREDIT INSTITUTIONS 125
11.1%
700 First Interstate Bancorp 56,175
14
T.Rowe Price Equity/Income 445 COMMON STOCK 50
CREDIT INSTITUTIONS 125
700 Chemical Banking Corp 33,075
14
T.Rowe Price Equity/Income 445 COMMON STOCK 50
CREDIT INSTITUTIONS 125
600 Chase Manhattan Corp 28,200
14
T.Rowe Price Equity/Income 445 COMMON STOCK 50
CREDIT INSTITUTIONS 125
250 Brooklyn Bancorp Inc 8,438
*
14
T.Rowe Price Equity/Income 445 COMMON STOCK 50
CREDIT INSTITUTIONS 125
1,800 Mellon Bank Corp 74,925
14
T.Rowe Price Equity/Income 445 COMMON STOCK 50
CREDIT INSTITUTIONS 125
1,000 Morgan (J P) & Company Inc 70,125
14
T.Rowe Price Equity/Income 445 COMMON STOCK 50
CREDIT INSTITUTIONS 125
600 Federal National Mortgage Association 56,625
14
T.Rowe Price Equity/Income 445 COMMON STOCK 50
CREDIT INSTITUTIONS 125
450 NationsBank Corp 24,131
14
T.Rowe Price Equity/Income 445 COMMON STOCK 50
CREDIT INSTITUTIONS 125
900 National City Corp 26,438
14
T.Rowe Price Equity/Income 445 COMMON STOCK 50
CREDIT INSTITUTIONS 125
1,000 Student Loan Marketing Association 46,875
14
T.Rowe Price Equity/Income 445 COMMON STOCK 50
CREDIT INSTITUTIONS 125
1,200 Banc One Funding Corp 38,700
14
T.Rowe Price Equity/Income 445 COMMON STOCK 50
CREDIT INSTITUTIONS 125
1,700 American Express Co 59,713
14
T.Rowe Price Equity/Income 445 COMMON STOCK 50
CREDIT INSTITUTIONS 125
800 PNC Bank Corp 21,100
14
T.Rowe Price Equity/Income 445 COMMON STOCK 50
ELECTRIC
75 5.9%
1,100 SCECorp 18,838
14
T.Rowe Price Equity/Income 445 COMMON STOCK 50
ELECTRIC
75
800 Florida Progress Corp 25,000
14
T.Rowe Price Equity/Income 445 COMMON STOCK 50
ELECTRIC
75
2,100 Entergy Corp 50,663
14
T.Rowe Price Equity/Income 445 COMMON STOCK 50
ELECTRIC
75
800 Unicom Corp 21,300
14
T.Rowe Price Equity/Income 445 COMMON STOCK 50
ELECTRIC
75
300 Dominion Resources Inc 10,950
14
T.Rowe Price Equity/Income 445 COMMON STOCK 50
ELECTRIC
75
600 General Public Utilities Corp 17,850
14
T.Rowe Price Equity/Income 445 COMMON STOCK 50
ELECTRIC
75
487 DQE Inc 11,445
14
T.Rowe Price Equity/Income 445 COMMON STOCK 50
ELECTRIC
75
900 Southern Co 20,138
14
T.Rowe Price Equity/Income 445 COMMON STOCK 50
ELECTRIC
75
800 Pacific Gas & Electric Co 23,200
14
T.Rowe Price Equity/Income 445 COMMON STOCK 50
ELECTRIC
75
2,500 PacifiCorp 46,875
14
T.Rowe Price Equity/Income 445 COMMON STOCK 50
ELECTRIC
75
1,900 Centerior Energy Corp 18,288
14
T.Rowe Price Equity/Income 445 COMMON STOCK 50
ELECTRIC
75
1,000 Baltimore Gas & Electric Co 25,000
14
T.Rowe Price Equity/Income 445 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
5.8% 1,300 General Electric Co
73,288
14
T.Rowe Price Equity/Income 445 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
400 Hubbell Inc 22,600
14
T.Rowe Price Equity/Income 445 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
700 Maytag Corp 11,200
14
T.Rowe Price Equity/Income 445 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
1,000 Eastman Kodak Co 60,625
14
T.Rowe Price Equity/Income 445 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
1,800 Honeywell Inc 77,625
14
T.Rowe Price Equity/Income 445 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
1,100 Baxter International Inc 40,013
14
T.Rowe Price Equity/Income 445 COMMON STOCK 50
FOREIGN BANKS 130
0.1%
1,200 Skandinaviska Enskilda Banken 6,229
14
T.Rowe Price Equity/Income 445 COMMON STOCK 50
GAS 80
0.5%
200 Eastern Enterprises 5,975
14
T.Rowe Price Equity/Income 445 COMMON STOCK 50
GAS 80
1,200 Trans Canada Pipelines Ltd 16,050
14
T.Rowe Price Equity/Income 445 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
1.9%
1,000 Weingarten Realty Investors 37,750
14
T.Rowe Price Equity/Income 445 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
12,600 Lonrho PLC 29,666
14
T.Rowe Price Equity/Income 445 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
900 UST Inc 26,775
14
T.Rowe Price Equity/Income 445 COMMON STOCK 50
INDUSTRIAL SERVICES 199
1.7%
400 Deluxe Corp 13,250
14
T.Rowe Price Equity/Income 445 COMMON STOCK 50
INDUSTRIAL SERVICES 199
700 E G & G Inc 11,725
14
T.Rowe Price Equity/Income 445 COMMON STOCK 50
INDUSTRIAL SERVICES 199
200 Pitney Bowes Inc 7,675
14
T.Rowe Price Equity/Income 445 COMMON STOCK 50
INDUSTRIAL SERVICES 199
1,000 Dun & Bradstreet Corp 52,500
14
T.Rowe Price Equity/Income 445 COMMON STOCK 50
INSURANCE 135
2.7%
1,000 Willis Corroon Group PLC 12,000
14
T.Rowe Price Equity/Income 445 COMMON STOCK 50
INSURANCE 135
400 Loews Corp 48,400
14
T.Rowe Price Equity/Income 445 COMMON STOCK 50
INSURANCE 135
1,500 Hilb Rogal & Hamilton Co 18,750
14
T.Rowe Price Equity/Income 445 COMMON STOCK 50
INSURANCE 135
800 Provident Life & Accident Insurance Co 18,600
14
T.Rowe Price Equity/Income 445 COMMON STOCK 50
INSURANCE 135
800 Travelers Group Inc 35,000
14
T.Rowe Price Equity/Income 445 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
9.7%
500 Brown-Forman Corp 16,688
14
T.Rowe Price Equity/Income 445 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
500 McGraw-Hill Inc 37,938
14
T.Rowe Price Equity/Income 445 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
1,250 Philip Morris Companies Inc 92,969
14
T.Rowe Price Equity/Income 445 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
500 Anheuser-Busch Companies Inc 28,438
14
T.Rowe Price Equity/Income 445 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
800 RJR Nabisco Holdings Corp 22,300
14
T.Rowe Price Equity/Income 445 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
1,000 Quaker Oats Co 32,875
14
T.Rowe Price Equity/Income 445 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
500 Readers Digest Association Inc 20,438
14
T.Rowe Price Equity/Income 445 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
500 CPC International Inc 30,875
14
T.Rowe Price Equity/Income 445 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
2,000 American Brands Inc 79,500
14
T.Rowe Price Equity/Income 445 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
700 The Times Mirror Co 16,713
14
T.Rowe Price Equity/Income 445 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
900 General Mills Inc 46,238
14
T.Rowe Price Equity/Income 445 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
400 Readers Digest Association Inc 17,650
14
T.Rowe Price Equity/Income 445 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
1,100 Sara Lee Corp 31,350
14
T.Rowe Price Equity/Income 445 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
14.8% 800 Schering-Plough Corp
35,300
14
T.Rowe Price Equity/Income 445 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
800 American Home Products Corp 61,900
14
T.Rowe Price Equity/Income 445 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
2,500 SmithKline Beecham PLC 113,125
14
T.Rowe Price Equity/Income 445 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
300 Monsanto Co 27,038
14
T.Rowe Price Equity/Income 445 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
800 DuPont (E I) De Nemours & Co 55,000
14
T.Rowe Price Equity/Income 445 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,200 Tambrands Inc 51,300
14
T.Rowe Price Equity/Income 445 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
300 Clorox Co 19,575
14
T.Rowe Price Equity/Income 445 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
2,050 Upjohn Co 77,644
14
T.Rowe Price Equity/Income 445 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
300 Jostens Inc 6,375
14
T.Rowe Price Equity/Income 445 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
900 Kimberly-Clark Corp 53,888
14
T.Rowe Price Equity/Income 445 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,100 Lilly (Eli) & Co 86,350
14
T.Rowe Price Equity/Income 445 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
900 Warner-Lambert Co 77,738
14
T.Rowe Price Equity/Income 445 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
850 Cooper Industries Inc 33,575
14
T.Rowe Price Equity/Income 445 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
200 Witco Corp 6,450
14
T.Rowe Price Equity/Income 445 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
350 Minnesota Mining & Manufacturing Co 20,038
14
T.Rowe Price Equity/Income 445 COMMON STOCK 50
OIL & GAS 100
10.1% 1,150 USX-Marathon Group
22,713
14
T.Rowe Price Equity/Income 445 COMMON STOCK 50
OIL & GAS 100
500 Royal Dutch Petroleum Co 60,938
14
T.Rowe Price Equity/Income 445 COMMON STOCK 50
OIL & GAS 100
1,300 Exxon Corp 91,813
14
T.Rowe Price Equity/Income 445 COMMON STOCK 50
OIL & GAS 100
1,000 Texaco Inc 65,625
14
T.Rowe Price Equity/Income 445 COMMON STOCK 50
OIL & GAS 100
700 Halliburton Co 25,025
14
T.Rowe Price Equity/Income 445 COMMON STOCK 50
OIL & GAS 100
600 Mobil Corp 57,600
14
T.Rowe Price Equity/Income 445 COMMON STOCK 50
OIL & GAS 100
600 British Petroleum PLC 51,375
14
T.Rowe Price Equity/Income 445 COMMON STOCK 50
OIL & GAS 100
600 Sun Company Inc 16,425
14
T.Rowe Price Equity/Income 445 COMMON STOCK 50
OIL & GAS 100
250 Chevron Corp 11,656
14
T.Rowe Price Equity/Income 445 COMMON STOCK 50
OIL & GAS 100
300 Pennzoil Co 14,138
14
T.Rowe Price Equity/Income 445 COMMON STOCK 50
OIL & GAS 100
700 Atlantic Richfield Co 76,825
14
T.Rowe Price Equity/Income 445 COMMON STOCK 50
OTHER TRANS. SERVICES 165
1.3%
600 PHH Corp 26,700
14
T.Rowe Price Equity/Income 445 COMMON STOCK 50
OTHER TRANS. SERVICES 165
1,000 Alexander & Baldwin Inc 22,234
14
T.Rowe Price Equity/Income 445 COMMON STOCK 50
OTHER TRANS. SERVICES 165
300 General American Transportation Corp 14,138
14
T.Rowe Price Equity/Income 445 COMMON STOCK 50
RAILROADS 175
0.7%
350 Union Pacific Corp 19,381
14
T.Rowe Price Equity/Income 445 COMMON STOCK 50
RAILROADS 175
300 Conrail Inc 16,688
14
T.Rowe Price Equity/Income 445 COMMON STOCK 50
REAL ESTATE 150
1.2%
500 Debartolo Realty Corp 7,313
14
T.Rowe Price Equity/Income 445 COMMON STOCK 50
REAL ESTATE 150
1,000 Simon Property Group Inc 25,125
14
T.Rowe Price Equity/Income 445 COMMON STOCK 50
REAL ESTATE 150
1,300 General Growth Properties Inc 26,488
14
T.Rowe Price Equity/Income 445 COMMON STOCK 50
RETAIL TRADE 207
3.9%
400 TJX Companies Inc 5,300
14
T.Rowe Price Equity/Income 445 COMMON STOCK 50
RETAIL TRADE 207
1,200 Penney (J C) & Company Inc 57,600
14
T.Rowe Price Equity/Income 445 COMMON STOCK 50
RETAIL TRADE 207
400 Melville Corp 13,700
14
T.Rowe Price Equity/Income 445 COMMON STOCK 50
RETAIL TRADE 207
800 Sears Roebuck & Co 47,900
14
T.Rowe Price Equity/Income 445 COMMON STOCK 50
RETAIL TRADE 207
300 Dayton Hudson Corp 21,525
14
T.Rowe Price Equity/Income 445 COMMON STOCK 50
RETAIL TRADE 207
250 Hancock Fabrics Inc 2,281
14
T.Rowe Price Equity/Income 445 COMMON STOCK 50
RETAIL TRADE 207
500 Darden Restaurants Inc 5,438
*
14
T.Rowe Price Equity/Income 445 COMMON STOCK 50
RETAIL TRADE 207
900 May Department Stores Co 37,463
14
T.Rowe Price Equity/Income 445 COMMON STOCK 50
TELEPHONE
85 4.2%
800 Alltel Corp 20,300
14
T.Rowe Price Equity/Income 445 COMMON STOCK 50
TELEPHONE
85
700 Southern New England Telecommunication 24,675
14
T.Rowe Price Equity/Income 445 COMMON STOCK 50
TELEPHONE
85
1,200 U S West Inc 49,950
14
T.Rowe Price Equity/Income 445 COMMON STOCK 50
TELEPHONE
85
300 Bellsouth Corp 19,050
14
T.Rowe Price Equity/Income 445 COMMON STOCK 50
TELEPHONE
85
400 Bell Atlantic Corp 22,400
14
T.Rowe Price Equity/Income 445 COMMON STOCK 50
TELEPHONE
85
300 BCE Inc 9,638
14
T.Rowe Price Equity/Income 445 COMMON STOCK 50
TELEPHONE
85
1,800 GTE Corp 61,425
14
T.Rowe Price Equity/Income 445 COMMON STOCK 50
WHOLESALE TRADE -CONSUM 209
0.8%
200 Helene Curtis Industries Inc 5,700
14
T.Rowe Price Equity/Income 445 COMMON STOCK 50
WHOLESALE TRADE -CONSUM 209
500
Fleming Companies Inc 13,250
14
T.Rowe Price Equity/Income 445 COMMON STOCK 50
WHOLESALE TRADE -CONSUM 205
500
Bausch & Lomb Inc 20,750 3,790,840 3,491,154
14
T.Rowe Price Equity/Income 445 PREFERRED STOCK 70
0.6%MINING 105
0.6%
500 Newmont Mining Corp 29,187 29,187 25,100
14
T.Rowe Price Equity/Income 445 SHORT-TERM INVESTMENT 10
15.8%CREDIT INSTITUTIONS 125
3.9%
190,000 Ford Motor Credit Co 189,158
14
T.Rowe Price Equity/Income 445 SHORT-TERM INVESTMENT 10
ELECTRIC
75 2.6%
127,000 Baltimore Gas & Electric Co 126,745
14
T.Rowe Price Equity/Income 445 SHORT-TERM INVESTMENT 10
FOREIGN BANKS 130
5.2%
255,000 Canadian Imperial Bank of Commerce 255,000
14
T.Rowe Price Equity/Income 445 SHORT-TERM INVESTMENT 10
SECURITIES & COMMODITIE 145
4.1%
200,000 Prudential Funding Corp 199,142 770,045
770,045
14
Foreign Equity Portfolio 430 COMMON STOCK 50
87.9%FOREIGN BANKS 130
Australia 3.1% 27,300
National Australia Bank Ltd 215,180
Australia 15
Foreign Equity Portfolio 430 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
Australia 80,000
Normandy Mining Ltd 98,667
Australia 15
Foreign Equity Portfolio 430 COMMON STOCK 50
INDUSTRIAL SERVICES 199
Australia 49,000
Mayne Nickless Ltd 201,099
Australia 15
Foreign Equity Portfolio 430 COMMON STOCK 50
INSURANCE 135
Australia 40,900
Gio Australia Holdings Ltd 76,825
Australia 15
Foreign Equity Portfolio 430 COMMON STOCK 50
INSURANCE 135
Australia 12,950
Lend Lease Corporation Ltd 165,042
Australia 15
Foreign Equity Portfolio 430 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
Australia 9,000
Amcor Ltd 66,218
Australia 15
Foreign Equity Portfolio 430 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 207
Australia 53,800
CSR Ltd 167,791
Australia 15
Foreign Equity Portfolio 430 COMMON STOCK 50
MINING 105
Australia 34,900
North Ltd 84,108
Australia 15
Foreign Equity Portfolio 430 COMMON STOCK 50
MINING 105
Australia 27,960
Broken Hill Proprietary Company Ltd 343,257
Australia 15
Foreign Equity Portfolio 430 COMMON STOCK 50
MINING 105
Australia 7,900
CRA Ltd 107,177
Australia 15
Foreign Equity Portfolio 430 COMMON STOCK 50
OIL & GAS 100
Australia 100,300
Ampolex Ltd 227,502
Australia 15
Foreign Equity Portfolio 430 COMMON STOCK 50
RETAIL TRADE 207
Australia 84,550
Woolworths Ltd 174,997
Australia 15
Foreign Equity Portfolio 430 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
Finland 0.1% 1,800
Rauma OY 32,444 *
Finland 15
Foreign Equity Portfolio 430 COMMON STOCK 50
ENVIRONMENTAL SERVICES 201
France 9.3% 5,700
Compagnie Generale des Eaux 634,966
France 15
Foreign Equity Portfolio 430 COMMON STOCK 50
FOREIGN BANKS 130
France 13,500
Credit Commercial de France 604,611
France 15
Foreign Equity Portfolio 430 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
France 7,600
Lafarge Coppee 591,381
France 15
Foreign Equity Portfolio 430 COMMON STOCK 50
INDUSTRIAL SERVICES 199
France 12,500
Sanofi SA 692,367
France 15
Foreign Equity Portfolio 430 COMMON STOCK 50
INDUSTRIAL SERVICES 205
France 18,200
Cap Gemini Sogeti 563,177 *
France 15
Foreign Equity Portfolio 430 COMMON STOCK 50
INSURANCE 135
France 10,000
AXA (Ex-Cie Du Midi) 540,485
France 15
Foreign Equity Portfolio 430 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
France 2,500 St
Louis Bouchon 773,595
France 15
Foreign Equity Portfolio 430 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
France 4,580
Groupe Danone 770,971
France 15
Foreign Equity Portfolio 430 COMMON STOCK 50
RETAIL TRADE 207
France 2,700
Bazar de L'Hotel de Ville 317,483
France 15
Foreign Equity Portfolio 430 COMMON STOCK 50
RETAIL TRADE 207
France 8,350
Etablissements Economiques du Casino G 243,739
France 15
Foreign Equity Portfolio 430 COMMON STOCK 50
CONSTRUCTION 203
Germany 4.8% 790
Hochtief AG 442,345
Germany 15
Foreign Equity Portfolio 430 COMMON STOCK 50
CONSUMER SERVICES 211
Germany 370
Wella AG 292,717
Germany 15
Foreign Equity Portfolio 430 COMMON STOCK 50
ELECTRIC 75
Germany 1,340
Veba AG 526,183
Germany 15
Foreign Equity Portfolio 430 COMMON STOCK 50
FOREIGN BANKS 130
Germany 16,400
Dresdner Bank AG 473,954
Germany 15
Foreign Equity Portfolio 430 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
Germany 1,120
Henkel KGaA Vorzugsaktien 431,298
Germany 15
Foreign Equity Portfolio 430 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
Germany 2,580
Mannesmann AG 787,551
Germany 15
Foreign Equity Portfolio 430 COMMON STOCK 50
ELECTRIC 75
Japan 23.2% 11,000
Tokyo Electric Power 336,867
Japan 15
Foreign Equity Portfolio 430 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
Japan 32,000
Fujitsu Ltd 318,492
Japan 15
Foreign Equity Portfolio 430 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
Japan 19,000
Nippondenso Company Ltd 344,641
Japan 15
Foreign Equity Portfolio 430 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
Japan 32,000
Matsushita Electric Industrial Company 497,527
Japan 15
Foreign Equity Portfolio 430 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
Japan 63,000
Hitachi Ltd 627,032
Japan 15
Foreign Equity Portfolio 430 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
Japan 12,000
Sony Corp 575,265
Japan 15
Foreign Equity Portfolio 430 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
Japan 32,000
Sharp Corp 422,144
Japan 15
Foreign Equity Portfolio 430 COMMON STOCK 50
FOREIGN BANKS 130
Japan 27,000
Sanwa Bank Ltd 508,834
Japan 15
Foreign Equity Portfolio 430 COMMON STOCK 50
FOREIGN BANKS 130
Japan 28,000
Fuji Bank Ltd 563,958
Japan 15
Foreign Equity Portfolio 430 COMMON STOCK 50
FOREIGN BANKS 130
Japan 19,000
Bank of Tokyo 304,358
Japan 15
Foreign Equity Portfolio 430 COMMON STOCK 50
FOREIGN BANKS 130
Japan 32,000
Sumitomo Bank 554,064
Japan 15
Foreign Equity Portfolio 430 COMMON STOCK 50
FOREIGN BANKS 130
Japan 27,000
Sakura Bank Ltd 281,449
Japan 15
Foreign Equity Portfolio 430 COMMON STOCK 50
FOREIGN BANKS 130
Japan 27,000
Mitsubishi Bank 581,979
Japan 15
Foreign Equity Portfolio 430 COMMON STOCK 50
FOREIGN BANKS 130
Japan 53,000
Asahi Bank Ltd 564,959
Japan 15
Foreign Equity Portfolio 430 COMMON STOCK 50
FOREIGN BANKS 130
Japan 44,000
Tokai Bank 487,161
Japan 15
Foreign Equity Portfolio 430 COMMON STOCK 50
INDUSTRIAL SERVICES 199
Japan 30,000
Okumura 284,452
Japan 15
Foreign Equity Portfolio 430 COMMON STOCK 50
INSURANCE 135
Japan 3,000
Sumitomo Marine & Fire Insurance Co 23,781
Japan 15
Foreign Equity Portfolio 430 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
Japan 21,000
Kirin Brewery Company Ltd 222,615
Japan 15
Foreign Equity Portfolio 430 COMMON STOCK 50
MFTG - CONSUMER PRODS. 207
Japan 17,000
Kirin Beverage Corp 282,332
Japan 15
Foreign Equity Portfolio 430 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
Japan 2,000
Kawasaki Steel Corp 6,549 *
Japan 15
Foreign Equity Portfolio 430 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
Japan 39,410
Sumitomo Rubber Industries Ltd 292,442
Japan 15
Foreign Equity Portfolio 430 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
Japan 27,000
Asahi Glass Company Ltd 297,668
Japan 15
Foreign Equity Portfolio 430 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
Japan 82,000
Ishikawajima-Harima Heavy Industries 321,625
Japan 15
Foreign Equity Portfolio 430 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
Japan 32,000
Yakult Honsha 463,604
Japan 15
Foreign Equity Portfolio 430 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 207
Japan 38,000
Makino Milling Machine 220,212 *
Japan 15
Foreign Equity Portfolio 430 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
Japan 25,000
Mitsubishi Heavy Industries Ltd 169,611
Japan 15
Foreign Equity Portfolio 430 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
Japan 118,000
Nippon Steel Co 383,604
Japan 15
Foreign Equity Portfolio 430 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
Japan 40,000
Mitsubishi Chemical Corp 171,025
Japan 15
Foreign Equity Portfolio 430 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
Japan 25,000
Yamanouchi Pharmaceutical 562,426
Japan 15
Foreign Equity Portfolio 430 COMMON STOCK 50
RAILROADS 175
Japan 53,000
Odakyu Electric Railway 384,547
Japan 15
Foreign Equity Portfolio 430 COMMON STOCK 50
RAILROADS 175
Japan 40
East Japan Railway Co 204,947
Japan 15
Foreign Equity Portfolio 430 COMMON STOCK 50
REAL ESTATE 150
Japan 47,000
Sumitomo Realty & Development 280,118
Japan 15
Foreign Equity Portfolio 430 COMMON STOCK 50
REAL ESTATE 150
Japan 27,000
Mitsui Fudosan 308,799
Japan 15
Foreign Equity Portfolio 430 COMMON STOCK 50
RETAIL TRADE 207
Japan 53,000
Mitsukoshi Ltd 378,304
Japan 15
Foreign Equity Portfolio 430 COMMON STOCK 50
RETAIL TRADE 207
Japan 21,000
Isetan Co 284,452
Japan 15
Foreign Equity Portfolio 430 COMMON STOCK 50
RETAIL TRADE 207
Japan 21,000
Takashimaya Co 281,979
Japan 15
Foreign Equity Portfolio 430 COMMON STOCK 50
SECURITIES & COMMODITIE 145
Japan 17,000
Daiwa Securities Company Ltd 179,011
Japan 15
Foreign Equity Portfolio 430 COMMON STOCK 50
SECURITIES & COMMODITIE 145
Japan 19,000
Nomura Securities Company Ltd 331,213
Japan 15
Foreign Equity Portfolio 430 COMMON STOCK 50
TELEPHONE 85
Japan 20
Nippon Telegraph & Telephone Corp 167,256
Japan 15
Foreign Equity Portfolio 430 COMMON STOCK 50
TRANSPORTATION EQUIPMEN 170
Japan 19,000
Honda Motor Co 290,931
Japan 15
Foreign Equity Portfolio 430 COMMON STOCK 50
WHOLESALE TRADE - INDL 197
Japan 30,000
Mitsui & Co 233,922
Japan 15
Foreign Equity Portfolio 430 COMMON STOCK 50
WHOLESALE TRADE - INDL 197
Japan 27,000
Mitsubishi Corp 306,890
Japan 15
Foreign Equity Portfolio 430 COMMON STOCK 50
COMMUNICATIONS 190
Malaysia 5.0% 66,000
Telekom Malaysia Berhad 500,820
Malaysia 15
Foreign Equity Portfolio 430 COMMON STOCK 50
CONSUMER SERVICES 211
Malaysia 49,000
Genting Berhad 484,372
Malaysia 15
Foreign Equity Portfolio 430 COMMON STOCK 50
FOREIGN BANKS 130
Malaysia 66,000
Malayan Banking Berhad 522,479
Malaysia 15
Foreign Equity Portfolio 430 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
Malaysia 180,000
Sime Darby Berhad 502,051
Malaysia 15
Foreign Equity Portfolio 430 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
Malaysia 157,000
Land & General Holdings Berhad 524,836
Malaysia 15
Foreign Equity Portfolio 430 COMMON STOCK 50
OTHER UTILITIES 90
Malaysia 127,000
Tenaga Nasional Berhad 518,314
Malaysia 15
Foreign Equity Portfolio 430 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
Netherlands 4.9% 18,200
Philips Electronics NV 770,023
Netherlands 15
Foreign Equity Portfolio 430 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
Netherlands 11,550
Fortis Amev NV 629,458
Netherlands 15
Foreign Equity Portfolio 430 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 207
Netherlands 22,900
Sphinx Koninklijke Gustavsberg - CVA 818,226
Netherlands 15
Foreign Equity Portfolio 430 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
Netherlands 760
Hunter Douglas NV 33,086
Netherlands 15
Foreign Equity Portfolio 430 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
Netherlands 6,000
Akzo Nobel NV 716,672
Netherlands 15
Foreign Equity Portfolio 430 COMMON STOCK 50
RETAIL TRADE 207
Netherlands 2,700
Vendex International NV 71,396 *
Netherlands 15
Foreign Equity Portfolio 430 COMMON STOCK 50
FOREIGN BANKS 130
Norway 1.6% 122,600
Christiania Bank OG Kreditkasse 284,376
Norway 15
Foreign Equity Portfolio 430 COMMON STOCK 50
FORESTRY 110
Norway 11,300
Norske Skogindustrier AS 375,750
Norway 15
Foreign Equity Portfolio 430 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
Norway 7,054
Norsk Hydro AS 295,776
Norway 15
Foreign Equity Portfolio 430 COMMON STOCK 50
FOREIGN BANKS 130
Singapore 3.1% 51,400
United Overseas Bank Ltd 485,496
Singapore 15
Foreign Equity Portfolio 430 COMMON STOCK 50
FOREIGN BANKS 130
Singapore 45,700
Development Bank Singapore Ltd 519,950
Singapore 15
Foreign Equity Portfolio 430 COMMON STOCK 50
OTHER TRANS. SERVICES 165
Singapore 55,500
Keppel Corporation Ltd 452,737
Singapore 15
Foreign Equity Portfolio 430 COMMON STOCK 50
REAL ESTATE 150
Singapore 76,000
City Developments Ltd 464,973
Singapore 15
Foreign Equity Portfolio 430 COMMON STOCK 50
FOREIGN BANKS 130
Spain 5.1% 11,700
Banco Santander SA 461,372
Spain 15
Foreign Equity Portfolio 430 COMMON STOCK 50
FORESTRY 110
Spain 19,300
Empresa Nacional de Celulosas SA 490,908 *
Spain 15
Foreign Equity Portfolio 430 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
Spain 11,800
Acerinox SA *********
Spain 15
Foreign Equity Portfolio 430 COMMON STOCK 50
OTHER UTILITIES 90
Spain 4,950
Gas Natural SDG 591,106
Spain 15
Foreign Equity Portfolio 430 COMMON STOCK 50
RETAIL TRADE 207
Spain 8,500
Centros Comerciales Pryca SA 157,940
Spain 15
Foreign Equity Portfolio 430 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
Switzerland 6.4% 1,582
Alusuisse-Lonza Holding AG 991,410
Switzerland 15
Foreign Equity Portfolio 430 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
Switzerland 5,400 CS
Holding AG 494,488
Switzerland 15
Foreign Equity Portfolio 430 COMMON STOCK 50
INSURANCE 135
Switzerland 613
Zurich Versicherungsgesellschaft 769,908
Switzerland 15
Foreign Equity Portfolio 430 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
Switzerland 5,115
Holderbank Financiere Glaris AG 6,882 *
Switzerland 15
Foreign Equity Portfolio 430 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
Switzerland 1,092
Holderbank Financiere Glaris AG 895,703
Switzerland 15
Foreign Equity Portfolio 430 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
Switzerland 125
Roche Holding AG 805,052
Switzerland 15
Foreign Equity Portfolio 430 COMMON STOCK 50
FOREIGN BANKS 130
Thailand 1.6% 23,200
Bangkok Bank 255,637
Thailand 15
Foreign Equity Portfolio 430 COMMON STOCK 50
FOREIGN BANKS 130
Thailand 26,800
Thai Farmers Bank Co 256,220
Thailand 15
Foreign Equity Portfolio 430 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 207
Thailand 3,800
Siam Cement Company Ltd 242,609
Thailand 15
Foreign Equity Portfolio 430 COMMON STOCK 50
TELEPHONE 90
Thailand 64,000
TelecomAsia Corp 241,118 *
Thailand 15
Foreign Equity Portfolio 430 COMMON STOCK 50
COMMUNICATIONS 190
United Kingdom 19.6% 126,350
TeleWest Communications PLC 329,644 *
United Kingdom 15
Foreign Equity Portfolio 430 COMMON STOCK 50
COMMUNICATIONS 190
United Kingdom 80,200
British Sky Broadcasting Group PLC 350,859 *
United Kingdom 15
Foreign Equity Portfolio 430 COMMON STOCK 50
CONSUMER SERVICES 211
United Kingdom 113,600
Forte PLC 412,039
United Kingdom 15
Foreign Equity Portfolio 430 COMMON STOCK 50
CONSUMER SERVICES 211
United Kingdom 28,440
Thorn EMI PLC 590,426
United Kingdom 15
Foreign Equity Portfolio 430 COMMON STOCK 50
ELECTRIC 75
United Kingdom 38,800
National Power PLC 275,291
United Kingdom 15
Foreign Equity Portfolio 430 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
United Kingdom 30,750
Siebe PLC 306,228
United Kingdom 15
Foreign Equity Portfolio 430 COMMON STOCK 50
FOREIGN BANKS 130
United Kingdom 61,000
Lloyds Bank PLC 605,536
United Kingdom 15
Foreign Equity Portfolio 430 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
United Kingdom 180,000
Hanson PLC 629,971
United Kingdom 15
Foreign Equity Portfolio 430 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
United Kingdom 46,950
United News & Media PLC 388,387
United Kingdom 15
Foreign Equity Portfolio 430 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
United Kingdom 77,800
BAT Industries PLC 595,320
United Kingdom 15
Foreign Equity Portfolio 430 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
United Kingdom 71,300
Compass Group PLC 420,813
United Kingdom 15
Foreign Equity Portfolio 430 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
United Kingdom 261,100
ASDA Group PLC 394,599
United Kingdom 15
Foreign Equity Portfolio 430 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
United Kingdom 47,050
Reed International PLC 660,916
United Kingdom 15
Foreign Equity Portfolio 430 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 207
United Kingdom 17,930
RMC Group PLC 301,210
United Kingdom 15
Foreign Equity Portfolio 430 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
United Kingdom 54,150
Rexam PLC 416,075
United Kingdom 15
Foreign Equity Portfolio 430 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
United Kingdom 138,000
British Steel PLC 377,601
United Kingdom 15
Foreign Equity Portfolio 430 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
United Kingdom 56,600
Courtaulds PLC 404,286
United Kingdom 15
Foreign Equity Portfolio 430 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
United Kingdom 44,550
British Aerospace PLC 399,008
United Kingdom 15
Foreign Equity Portfolio 430 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
United Kingdom 55,100
SmithKline Beecham PLC 498,758
United Kingdom 15
Foreign Equity Portfolio 430 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 155
United Kingdom 115,700
Caradon PLC 434,381
United Kingdom 15
Foreign Equity Portfolio 430 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
United Kingdom 30,700
Glaxo Wellcome PLC 377,035
United Kingdom 15
Foreign Equity Portfolio 430 COMMON STOCK 50
OIL & GAS 100
United Kingdom 21,460
Shell Transport & Trading Company PLC 256,387
United Kingdom 15
Foreign Equity Portfolio 430 COMMON STOCK 50
OIL & GAS 100
United Kingdom 88,200
British Petroleum Co PLC 632,806
United Kingdom 15
Foreign Equity Portfolio 430 COMMON STOCK 50
REAL ESTATE 150
United Kingdom 98,000
Pillar Property Investments PLC 254,120
United Kingdom 15
Foreign Equity Portfolio 430 COMMON STOCK 50
RETAIL TRADE 207
United Kingdom 73,200
Sainsbury (J) PLC 514,706
United Kingdom 15
Foreign Equity Portfolio 430 COMMON STOCK 50
RETAIL TRADE 207
United Kingdom 42,600
Bass PLC 407,973
United Kingdom 15
Foreign Equity Portfolio 430 COMMON STOCK 50
RETAIL TRADE 207
United Kingdom 48,500
Kingfisher PLC 327,911
United Kingdom 15
Foreign Equity Portfolio 430 COMMON STOCK 50
RETAIL TRADE 207
United Kingdom 52,150
Marks & Spencer PLC 335,997
United Kingdom 15
Foreign Equity Portfolio 430 COMMON STOCK 50
TELEPHONE 85
United Kingdom 30,000
British Telecom PLC 187,082
United Kingdom 15
Foreign Equity Portfolio 430 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
United States 0.0% 1,606 US
Industries Inc 21,882 *********************
United States 15
Foreign Equity Portfolio 430 PREFERRED STOCK 70
1.1%ELECTRONICS - HIGH TECH 205
Finland 1.1% 12,000
Nokia AB 701,343 701,343 484,646
Finland 15
Foreign Equity Portfolio 430 SHORT-TERM INVESTMENT 10
11.0%FOREIGN BANKS 130
Canada 4.7% 2,892,000
Canadian Imperial Bank of Commerce *********
Canada 15
Foreign Equity Portfolio 430 SHORT-TERM INVESTMENT 10
CREDIT INSTITUTIONS 125
United States 6.3% 1,383,000
Ford Motor Credit Co *********
United States 15
Foreign Equity Portfolio 430 SHORT-TERM INVESTMENT 10
SECURITIES & COMMODITIE 145
United States 1,500,000
Merrill Lynch & Company Inc *********
United States 15
Foreign Equity Portfolio 430 SHORT-TERM INVESTMENT 10
SECURITIES & COMMODITIE 145
United States 1,000,000
Morgan Stanley Group Inc 999,153 6,766,299 6,766,298
********************United States
15
Growth Index Portfolio 420 COMMON STOCK 50
96.1%AGENCY 45
0.5%
2,200 Federal Home Loan Mortgage Corp 151,250
16
Growth Index Portfolio 420 COMMON STOCK 50
AIR 160
0.2%
300 Atlantic Southeast Airlines Inc 9,038
16
Growth Index Portfolio 420 COMMON STOCK 50
AIR 160
400
Pittston Services Group 9,600
16
Growth Index Portfolio 420 COMMON STOCK 50
AIR 160
300
Airborne Freight Corp 6,075
16
Growth Index Portfolio 420 COMMON STOCK 50
AIR 160
1,800
Southwest Airlines Co 42,975
16
Growth Index Portfolio 420 COMMON STOCK 50
COMMUNICATIONS 190
9.1%
1,200 Turner Broadcasting Systems Inc 24,600
16
Growth Index Portfolio 420 COMMON STOCK 50
COMMUNICATIONS 190
500
Multimedia Inc 19,375 *
16
Growth Index Portfolio 420 COMMON STOCK 50
COMMUNICATIONS 190
840
Gaylord Entertainment Co 21,210
16
Growth Index Portfolio 420 COMMON STOCK 50
COMMUNICATIONS 190
750
Infinity Broadcasting Corp 25,031 *
16
Growth Index Portfolio 420 COMMON STOCK 50
COMMUNICATIONS 190
600
CBS Inc 40,200
16
Growth Index Portfolio 420 COMMON STOCK 50
COMMUNICATIONS 190
600
Telephone & Data Systems Inc 21,825
16
Growth Index Portfolio 420 COMMON STOCK 50
COMMUNICATIONS 190
1,700
Gannett Company Inc 92,225
16
Growth Index Portfolio 420 COMMON STOCK 50
COMMUNICATIONS 190
650
Cabletron Systems Inc 34,613 *
16
Growth Index Portfolio 420 COMMON STOCK 50
COMMUNICATIONS 190
200 LIN Television Corp 6,725
*
16
Growth Index Portfolio 420 COMMON STOCK 50
COMMUNICATIONS 190
300 Lin Broadcasting Corp 37,950
*
16
Growth Index Portfolio 420 COMMON STOCK 50
COMMUNICATIONS 190
19,300 AT&T Corp *********
16
Growth Index Portfolio 420 COMMON STOCK 50
COMMUNICATIONS 190
1,600 Capital Cities/ABC Inc 172,800
16
Growth Index Portfolio 420 COMMON STOCK 50
COMMUNICATIONS 190
200 Cablevision Systems Corp 12,750
*
16
Growth Index Portfolio 420 COMMON STOCK 50
COMMUNICATIONS 190
350 Vanguard Cellular Systems Inc 8,400
*
16
Growth Index Portfolio 420 COMMON STOCK 50
COMMUNICATIONS 190
4,300 Sprint Corp 144,588
16
Growth Index Portfolio 420 COMMON STOCK 50
COMMUNICATIONS 190
600 Tribune Co 36,825
16
Growth Index Portfolio 420 COMMON STOCK 50
COMMUNICATIONS 190
7,190 Tele-Communications Inc 168,512
*
16
Growth Index Portfolio 420 COMMON STOCK 50
COMMUNICATIONS 190
900 Nextel Communications Inc 12,713
*
16
Growth Index Portfolio 420 COMMON STOCK 50
COMMUNICATIONS 190
2,900 Comcast Corp 53,830
16
Growth Index Portfolio 420 COMMON STOCK 50
COMMUNICATIONS 190
4,112 Viacom Inc 191,208
*
16
Growth Index Portfolio 420 COMMON STOCK 50
COMMUNICATIONS 190
600 Qualcomm Inc 20,737
*
16
Growth Index Portfolio 420 COMMON STOCK 50
COMMUNICATIONS 190
300 Paging Network Inc 10,275
*
16
Growth Index Portfolio 420 COMMON STOCK 50
COMMUNICATIONS 190
4,600 Time Warner Inc 189,175
16
Growth Index Portfolio 420 COMMON STOCK 50
COMMUNICATIONS 190
6,000 Airtouch Communications Inc 171,000
*
16
Growth Index Portfolio 420 COMMON STOCK 50
COMMUNICATIONS 190
400 Belo (A H) Corp 12,250
16
Growth Index Portfolio 420 COMMON STOCK 50
COMMUNICATIONS 190
1,490 Worldcom Inc 40,230
*
16
Growth Index Portfolio 420 COMMON STOCK 50
COMMUNICATIONS 190
400 ALC Communications Corp 18,050
*
16
Growth Index Portfolio 420 COMMON STOCK 50
CONSTRUCTION 203
0.1% 12 Rust International Inc
197 *
16
Growth Index Portfolio 420 COMMON STOCK 50
CONSTRUCTION 203
300 Geon Co 8,625
16
Growth Index Portfolio 420 COMMON STOCK 50
CONSTRUCTION 203
675 Clayton Homes Inc 11,053
16
Growth Index Portfolio 420 COMMON STOCK 50
CONSUMER SERVICES 211
10.2% 1,200 Service Corp International
37,950
16
Growth Index Portfolio 420 COMMON STOCK 50
CONSUMER SERVICES 211
500 FHP International Corp 11,500
*
16
Growth Index Portfolio 420 COMMON STOCK 50
CONSUMER SERVICES 211
350 La Quinta Inns Inc 9,450
16
Growth Index Portfolio 420 COMMON STOCK 50
CONSUMER SERVICES 211
2,100 United Healthcare Corp 86,888
16
Growth Index Portfolio 420 COMMON STOCK 50
CONSUMER SERVICES 211
200 Cordis Corp 13,350
*
16
Growth Index Portfolio 420 COMMON STOCK 50
CONSUMER SERVICES 211
400 Boyd Gaming Corp 6,650
*
16
Growth Index Portfolio 420 COMMON STOCK 50
CONSUMER SERVICES 211
1,300 Block (H & R) Inc 53,463
16
Growth Index Portfolio 420 COMMON STOCK 50
CONSUMER SERVICES 211
300 Carter-Wallace Inc 3,413
16
Growth Index Portfolio 420 COMMON STOCK 50
CONSUMER SERVICES 211
700 United States Surgical Corp 14,613
16
Growth Index Portfolio 420 COMMON STOCK 50
CONSUMER SERVICES 211
15,100 Merck & Company Inc 739,900
6
Growth Index Portfolio 420 COMMON STOCK 50
CONSUMER SERVICES 211
4,068 Columbia/HCA Healthcare Corp 175,941
16
Growth Index Portfolio 420 COMMON STOCK 50
CONSUMER SERVICES 211
7,900 Johnson & Johnson 534,238
16
Growth Index Portfolio 420 COMMON STOCK 50
CONSUMER SERVICES 211
1,000 Circus Circus Enterprises Inc 35,250
*
16
Growth Index Portfolio 420 COMMON STOCK 50
CONSUMER SERVICES 211
5,200 The Walt Disney Co 289,250
16
Growth Index Portfolio 420 COMMON STOCK 50
CONSUMER SERVICES 211
1,700 Host Marriott Corp 18,063
*
16
Growth Index Portfolio 420 COMMON STOCK 50
CONSUMER SERVICES 211
1,400 Medtronic Inc 107,975
16
Growth Index Portfolio 420 COMMON STOCK 50
CONSUMER SERVICES 211
200 Wellpoint Health Networks Inc 5,650
*
16
Growth Index Portfolio 420 COMMON STOCK 50
CONSUMER SERVICES 211
900 Mirage Resorts Inc 27,563
*
16
Growth Index Portfolio 420 COMMON STOCK 50
CONSUMER SERVICES 211
300 King World Productions Inc 12,150
*
16
Growth Index Portfolio 420 COMMON STOCK 50
CONSUMER SERVICES 211
148 MGM Grand Inc 4,052
*
16
Growth Index Portfolio 420 COMMON STOCK 50
CONSUMER SERVICES 211
900 Caremark International Inc 18,000
16
Growth Index Portfolio 420 COMMON STOCK 50
CONSUMER SERVICES 211
400 Hilton Hotels Corp 28,100
16
Growth Index Portfolio 420 COMMON STOCK 50
CONSUMER SERVICES 211
2,000 Humana Inc 35,250
*
16
Growth Index Portfolio 420 COMMON STOCK 50
CONSUMER SERVICES 211
1,400 Biomet Inc 21,700
*
16
Growth Index Portfolio 420 COMMON STOCK 50
CONSUMER SERVICES 211
400 Ornda Healthcorp 6,850
*
16
Growth Index Portfolio 420 COMMON STOCK 50
CONSUMER SERVICES 211
400 Biogen Inc 17,800
*
16
Growth Index Portfolio 420 COMMON STOCK 50
CONSUMER SERVICES 211
900 Healthsouth Rehabilitation Corp 15,638
*
16
Growth Index Portfolio 420 COMMON STOCK 50
CONSUMER SERVICES 211
600 St Jude Medical Inc 30,075
16
Growth Index Portfolio 420 COMMON STOCK 50
CONSUMER SERVICES 211
500 Manor Care Inc 14,563
16
Growth Index Portfolio 420 COMMON STOCK 50
CONSUMER SERVICES 211
400 Primadonna Resorts Inc 9,600
*
16
Growth Index Portfolio 420 COMMON STOCK 50
CONSUMER SERVICES 211
1,400 CUC International Inc 58,800
*
16
Growth Index Portfolio 420 COMMON STOCK 50
CONSUMER SERVICES 211
1,950 U S Healthcare Inc 59,719
16
Growth Index Portfolio 420 COMMON STOCK 50
CONSUMER SERVICES 211
400 HealthCare Compare Corp 12,000
*
16
Growth Index Portfolio 420 COMMON STOCK 50
CONSUMER SERVICES 211
1,600 Amgen Inc 128,699
*
16
Growth Index Portfolio 420 COMMON STOCK 50
CONSUMER SERVICES 211
200 Health Systems International Inc 5,800
*
16
Growth Index Portfolio 420 COMMON STOCK 50
CONSUMER SERVICES 211
600 Health Management Associates Inc 17,550
*
16
Growth Index Portfolio 420 COMMON STOCK 50
CONSUMER SERVICES 211
1,200 Marriott International Inc 43,050
16
Growth Index Portfolio 420 COMMON STOCK 50
CONSUMER SERVICES 211
400 Stryker Corp 15,350
16
Growth Index Portfolio 420 COMMON STOCK 50
CONSUMER SERVICES 211
300 Genzyme Corp 12,000
*
16
Growth Index Portfolio 420 COMMON STOCK 50
CONSUMER SERVICES 211
200 Pacificare Health Systems Inc 10,150
*
16
Growth Index Portfolio 420 COMMON STOCK 50
CONSUMER SERVICES 211
1,200 Ivax Corp 29,550
16
Growth Index Portfolio 420 COMMON STOCK 50
CONSUMER SERVICES 211
600 Bard (C R) Inc 18,000
16
Growth Index Portfolio 420 COMMON STOCK 50
CONSUMER SERVICES 211
1,000 Beverly Enterprises Inc 12,375
*
16
Growth Index Portfolio 420 COMMON STOCK 50
CONSUMER SERVICES 211
1,300 Whitman Corp 25,188
16
Growth Index Portfolio 420 COMMON STOCK 50
CONSUMER SERVICES 211
500 Forest Laboratories Inc 22,188
*
16
Growth Index Portfolio 420 COMMON STOCK 50
CONSUMER SERVICES 211
800 Novacare Inc 6,500
*
16
Growth Index Portfolio 420 COMMON STOCK 50
CONSUMER SERVICES 211
1,250 Promus Companies Inc 48,750
*
16
Growth Index Portfolio 420 COMMON STOCK 50
CONSUMER SERVICES 211
400 Health Care & Retirement Corp 11,700
*
16
Growth Index Portfolio 420 COMMON STOCK 50
CREDIT INSTITUTIONS 125
2.2% 400 Advanta Corp
16,675
16
Growth Index Portfolio 420 COMMON STOCK 50
CREDIT INSTITUTIONS 125
1,100 Mercury Finance Co 21,175
16
Growth Index Portfolio 420 COMMON STOCK 50
CREDIT INSTITUTIONS 125
415 Valley National Bancorp 10,012
16
Growth Index Portfolio 420 COMMON STOCK 50
CREDIT INSTITUTIONS 125
800 Washington Mutual Inc 18,750
16
Growth Index Portfolio 420 COMMON STOCK 50
CREDIT INSTITUTIONS 125
600 First USA Inc 26,625
16
Growth Index Portfolio 420 COMMON STOCK 50
CREDIT INSTITUTIONS 125
1,000 State Street Boston Corp 36,875
16
Growth Index Portfolio 420 COMMON STOCK 50
CREDIT INSTITUTIONS 125
900 Student Loan Marketing Association 42,188
16
Growth Index Portfolio 420 COMMON STOCK 50
CREDIT INSTITUTIONS 125
1,100 Countrywide Credit Industries Inc 23,100
16
Growth Index Portfolio 420 COMMON STOCK 50
CREDIT INSTITUTIONS 125
1,600 MBNA Corp 54,000
16
Growth Index Portfolio 420 COMMON STOCK 50
CREDIT INSTITUTIONS 125
900 Synovus Financial Corp 20,475
16
Growth Index Portfolio 420 COMMON STOCK 50
CREDIT INSTITUTIONS 125
400 Western National Corp 4,950
16
Growth Index Portfolio 420 COMMON STOCK 50
CREDIT INSTITUTIONS 125
3,300 Federal National Mortgage Association 311,438
16
Growth Index Portfolio 420 COMMON STOCK 50
CREDIT INSTITUTIONS 125
600 Fifth Third Bancorp 33,750
16
Growth Index Portfolio 420 COMMON STOCK 50
ELECTRIC
75 0.1%
151 Sithe-Energies Inc 1,472
*
16
Growth Index Portfolio 420 COMMON STOCK 50
ELECTRIC
75
503 AES Corp 9,557
*
16
Growth Index Portfolio 420 COMMON STOCK 50
ELECTRIC
75
826 Citizens Utilities Co 9,809
*
16
Growth Index Portfolio 420 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
17.2% 500 W W Grainger Inc
29,375
16
Growth Index Portfolio 420 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
1,400 DSC Communications Corp 65,100
*
16
Growth Index Portfolio 420 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
1,600 Micron Technology Inc 87,800
16
Growth Index Portfolio 420 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
1,400 LSI Logic Corp 54,775
*
16
Growth Index Portfolio 420 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
300 Diebold Inc 13,050
16
Growth Index Portfolio 420 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
3,300 Cisco Systems Inc 166,855
*
16
Growth Index Portfolio 420 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
1,400 Duracell International Inc 60,550
16
Growth Index Portfolio 420 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
400 Varian Associates Inc 22,100
16
Growth Index Portfolio 420 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
4,000 Novell Inc 79,748
*
16
Growth Index Portfolio 420 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
525 Glenayre Technologies Inc 26,775
*
16
Growth Index Portfolio 420 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
1,700 General Instrument Corp 65,238
*
16
Growth Index Portfolio 420 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
20,700 General Electric Co *********
16
Growth Index Portfolio 420 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
160 Gateway 2000 Inc 3,640
*
16
Growth Index Portfolio 420 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
4,700 Hewlett-Packard Co 350,150
16
Growth Index Portfolio 420 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
7,200 Motorola Inc 483,300
16
Growth Index Portfolio 420 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
410 Hubbell Inc 23,165
16
Growth Index Portfolio 420 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
775 Molex Inc 30,031
16
Growth Index Portfolio 420 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
533 Federal Signal Corp 11,526
16
Growth Index Portfolio 420 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
420 Vishay Intertechnology Inc 15,173
*
16
Growth Index Portfolio 420 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
2,900 Emerson Electric Co 207,350
16
Growth Index Portfolio 420 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
500 Perkin-Elmer Corp 17,750
16
Growth Index Portfolio 420 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
200 Dentsply International Inc 7,200
16
Growth Index Portfolio 420 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
1,500 National Semiconductor Corp 41,625
*
16
Growth Index Portfolio 420 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
300 Dell Computer Corp 18,038
*
16
Growth Index Portfolio 420 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
1,100 Texas Instruments Inc 147,263
16
Growth Index Portfolio 420 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
400 Linear Technology Corp 26,400
16
Growth Index Portfolio 420 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
900 Scientific-Atlanta Inc 19,800
16
Growth Index Portfolio 420 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
900 Analog Devices Inc 30,600
*
16
Growth Index Portfolio 420 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
900 Sensormatic Electronics Corp 31,950
16
Growth Index Portfolio 420 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
400 Andrew Corp 23,150
*
16
Growth Index Portfolio 420 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
400 Briggs & Stratton Corp 13,800
16
Growth Index Portfolio 420 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
1,100 Boston Scientific Corp 35,063
*
16
Growth Index Portfolio 420 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
400 Maxim Integrated Products Inc 20,400
*
16
Growth Index Portfolio 420 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
300 Lam Research Corp 19,200
*
16
Growth Index Portfolio 420 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
300 KLA Instruments Corp 23,175
*
16
Growth Index Portfolio 420 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
900 Tellabs Inc 43,313
*
16
Growth Index Portfolio 420 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
400 Integrated Device Technology Inc 18,500
*
16
Growth Index Portfolio 420 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
1,800 Silicon Graphics Inc 71,775
*
16
Growth Index Portfolio 420 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
400 Beckman Instruments Inc 11,150
16
Growth Index Portfolio 420 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
400 Solectron Corp 13,650
*
16
Growth Index Portfolio 420 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
1,000 Applied Materials Inc 86,625
*
16
Growth Index Portfolio 420 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
400 Amphenol Corp 11,650
*
16
Growth Index Portfolio 420 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
400 Keystone International Inc 7,850
16
Growth Index Portfolio 420 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
400 Teradyne Inc 26,150
*
16
Growth Index Portfolio 420 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
500 York International Corp 22,500
16
Growth Index Portfolio 420 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
600 Adaptec Inc 22,200
*
16
Growth Index Portfolio 420 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
216 Thermo Instrument Systems Inc 5,292
*
16
Growth Index Portfolio 420 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
1,000 Thermo Electron Corp 40,250
*
16
Growth Index Portfolio 420 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
10,200 Intel Corp 645,782
16
Growth Index Portfolio 420 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
600 Conner Peripherals Inc 7,425
*
16
Growth Index Portfolio 420 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
1,600 International Game Technology 24,600
16
Growth Index Portfolio 420 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
500 Quantum Corp 11,438
*
16
Growth Index Portfolio 420 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
3,200 Compaq Computer Corp 145,200
*
16
Growth Index Portfolio 420 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
2,500 AMP Inc 105,625
16
Growth Index Portfolio 420 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
700 Adobe Systems Inc 40,600
16
Growth Index Portfolio 420 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
1,300 Advanced Micro Devices Inc 47,288
16
Growth Index Portfolio 420 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
400 Cirrus Logic Inc 25,075
*
16
Growth Index Portfolio 420 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
300 Xilinx Inc 28,200
*
16
Growth Index Portfolio 420 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
900 American Power Conversion Corp 20,588
*
16
Growth Index Portfolio 420 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
400 Atmel Corp 22,150
*
16
Growth Index Portfolio 420 COMMON STOCK 50
ENVIRONMENTAL SERVICES 201
1.1%
5,900 WMX Technologies Inc 167,413
16
Growth Index Portfolio 420 COMMON STOCK 50
ENVIRONMENTAL SERVICES 201
929 Tyco International Inc 50,166
16
Growth Index Portfolio 420 COMMON STOCK 50
ENVIRONMENTAL SERVICES 201
200 Rollins Inc 4,800
16
Growth Index Portfolio 420 COMMON STOCK 50
ENVIRONMENTAL SERVICES 201
2,600 Browning-Ferris Industries Inc 93,925
16
Growth Index Portfolio 420 COMMON STOCK 50
ENVIRONMENTAL SERVICES 201
700 Safety-Kleen Corp 11,288
16
Growth Index Portfolio 420 COMMON STOCK 50
FORESTRY 110
0.2%
600 Longview Fibre Co 10,200
16
Growth Index Portfolio 420 COMMON STOCK 50
FORESTRY 110
1,300 Louisiana-Pacific Corp 34,125
16
Growth Index Portfolio 420 COMMON STOCK 50
GAS
80 0.7%
2,600 Enron Corp 91,325
16
Growth Index Portfolio 420 COMMON STOCK 50
GAS
80
200 Western Gas Resources Inc 3,450
16
Growth Index Portfolio 420 COMMON STOCK 50
GAS
80
2,200 Tenneco Inc 101,200
16
Growth Index Portfolio 420 COMMON STOCK 50
GAS
80
400 Seagull Energy Corp 6,600
*
16
Growth Index Portfolio 420 COMMON STOCK 50
GAS
80
400 Pogo Producing Co 9,150
16
Growth Index Portfolio 420 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
0.6%
300 Health Care Property Investors Inc 9,600
16
Growth Index Portfolio 420 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
700 MGIC Investment Corp 32,813
16
Growth Index Portfolio 420 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
2,400 UST Inc 71,400
16
Growth Index Portfolio 420 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
600 Franklin Resources Inc 26,700
16
Growth Index Portfolio 420 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
800 TIG Holdings Inc 18,400
16
Growth Index Portfolio 420 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
600 Hospitality Franchise Systems Inc 20,775
*
16
Growth Index Portfolio 420 COMMON STOCK 50
INDEPENDENT POWER PROD 120
0.1%
1,000 Wheelabrator Technologies Inc 15,375
16
Growth Index Portfolio 420 COMMON STOCK 50
INDUSTRIAL SERVICES 199
6.0%
1,600 Informix Corp 40,600
*
16
Growth Index Portfolio 420 COMMON STOCK 50
INDUSTRIAL SERVICES 199
400 HBO & Co 21,800
16
Growth Index Portfolio 420 COMMON STOCK 50
INDUSTRIAL SERVICES 199
1,000 Interpublic Group of Companies Inc 37,500
16
Growth Index Portfolio 420 COMMON STOCK 50
INDUSTRIAL SERVICES 199
400 Legent Corp 17,500
*
16
Growth Index Portfolio 420 COMMON STOCK 50
INDUSTRIAL SERVICES 199
4,000 Microsoft Corp 361,500
*
16
Growth Index Portfolio 420 COMMON STOCK 50
INDUSTRIAL SERVICES 199
154 Total System Services Inc 2,252
16
Growth Index Portfolio 420 COMMON STOCK 50
INDUSTRIAL SERVICES 199
600 Lotus Development Corp 38,250
*
16
Growth Index Portfolio 420 COMMON STOCK 50
INDUSTRIAL SERVICES 199
500 Kelly Services Inc 12,875
16
Growth Index Portfolio 420 COMMON STOCK 50
INDUSTRIAL SERVICES 199
900 Manpower Inc 22,950
16
Growth Index Portfolio 420 COMMON STOCK 50
INDUSTRIAL SERVICES 199
900 Sybase Inc 26,438
*
16
Growth Index Portfolio 420 COMMON STOCK 50
INDUSTRIAL SERVICES 199
600 Compuware Corp 18,450
*
16
Growth Index Portfolio 420 COMMON STOCK 50
INDUSTRIAL SERVICES 199
300 BMC Software Inc 23,175
*
16
Growth Index Portfolio 420 COMMON STOCK 50
INDUSTRIAL SERVICES 199
450 Paychex Inc 16,313
16
Growth Index Portfolio 420 COMMON STOCK 50
INDUSTRIAL SERVICES 199
1,800 Automatic Data Processing Inc 113,175
16
Growth Index Portfolio 420 COMMON STOCK 50
INDUSTRIAL SERVICES 199
600 Electronic Arts Inc 16,275
*
16
Growth Index Portfolio 420 COMMON STOCK 50
INDUSTRIAL SERVICES 199
700 Ecolab Inc 17,150
16
Growth Index Portfolio 420 COMMON STOCK 50
INDUSTRIAL SERVICES 199
2,100 Dun & Bradstreet Corp 110,250
16
Growth Index Portfolio 420 COMMON STOCK 50
INDUSTRIAL SERVICES 199
300 Sotheby's Holdings Inc 4,088
16
Growth Index Portfolio 420 COMMON STOCK 50
INDUSTRIAL SERVICES 199
1,800 Pitney Bowes Inc 69,075
16
Growth Index Portfolio 420 COMMON STOCK 50
INDUSTRIAL SERVICES 199
900 Equifax Inc 30,038
16
Growth Index Portfolio 420 COMMON STOCK 50
INDUSTRIAL SERVICES 199
500 Western Atlas Inc 22,188
*
16
Growth Index Portfolio 420 COMMON STOCK 50
INDUSTRIAL SERVICES 199
600 Ceridian Corp 22,125
*
16
Growth Index Portfolio 420 COMMON STOCK 50
INDUSTRIAL SERVICES 199
400 Cheyenne Software Inc 7,400
*
16
Growth Index Portfolio 420 COMMON STOCK 50
INDUSTRIAL SERVICES 199
500 Reynolds & Reynolds Co 14,750
16
Growth Index Portfolio 420 COMMON STOCK 50
INDUSTRIAL SERVICES 199
400 Cintas Corp 14,200
16
Growth Index Portfolio 420 COMMON STOCK 50
INDUSTRIAL SERVICES 199
700 Computer Sciences Corp 39,813
*
16
Growth Index Portfolio 420 COMMON STOCK 50
INDUSTRIAL SERVICES 199
600 Autodesk Inc 25,800
16
Growth Index Portfolio 420 COMMON STOCK 50
INDUSTRIAL SERVICES 199
700 Parametric Technology Corp 34,825
*
16
Growth Index Portfolio 420 COMMON STOCK 50
INDUSTRIAL SERVICES 199
32 SPS Transaction Services Inc 1,108
*
16
Growth Index Portfolio 420 COMMON STOCK 50
INDUSTRIAL SERVICES 199
1,100 First Data Corp 62,563
16
Growth Index Portfolio 420 COMMON STOCK 50
INDUSTRIAL SERVICES 199
400 Gtech Holdings Corp 11,700
*
16
Growth Index Portfolio 420 COMMON STOCK 50
INDUSTRIAL SERVICES 199
300 Olsten Corp 9,825
16
Growth Index Portfolio 420 COMMON STOCK 50
INDUSTRIAL SERVICES 199
400 Omnicom Group Inc 24,250
16
Growth Index Portfolio 420 COMMON STOCK 50
INDUSTRIAL SERVICES 199
4,100 Oracle Systems Corp 158,363
*
16
Growth Index Portfolio 420 COMMON STOCK 50
INDUSTRIAL SERVICES 199
1,500 Computer Associates International Inc 101,625
16
Growth Index Portfolio 420 COMMON STOCK 50
INDUSTRIAL SERVICES 199
500 Arrow Electronics Inc 24,875
*
16
Growth Index Portfolio 420 COMMON STOCK 50
INDUSTRIAL SERVICES 199
400 Fiserv Inc 11,250
*
16
Growth Index Portfolio 420 COMMON STOCK 50
INDUSTRIAL SERVICES 199
1,000 Fluor Corp 52,000
16
Growth Index Portfolio 420 COMMON STOCK 50
INDUSTRIAL SERVICES 199
200 Flightsafety International Inc 9,750
16
Growth Index Portfolio 420 COMMON STOCK 50
INDUSTRIAL SERVICES 199
400 Foster Wheeler Corp 14,100
16
Growth Index Portfolio 420 COMMON STOCK 50
INDUSTRIAL SERVICES 199
700 First Financial Management Corp 59,850
16
Growth Index Portfolio 420 COMMON STOCK 50
INSURANCE 135
2.7% 900 Marsh & McLennan Companies Inc
73,013
16
Growth Index Portfolio 420 COMMON STOCK 50
INSURANCE 135
1,200 Aflac Inc 52,500
16
Growth Index Portfolio 420 COMMON STOCK 50
INSURANCE 135
3,200 American International Group Inc 364,800
16
Growth Index Portfolio 420 COMMON STOCK 50
INSURANCE 135
500 Alexander & Alexander Services Inc 11,938
16
Growth Index Portfolio 420 COMMON STOCK 50
INSURANCE 135
600 American Re Corp 22,350
16
Growth Index Portfolio 420 COMMON STOCK 50
INSURANCE 135
300 John Alden Financial Corp 5,138
16
Growth Index Portfolio 420 COMMON STOCK 50
INSURANCE 135
200 Hartford Steam Boiler Inspection & Ins 8,875
16
Growth Index Portfolio 420 COMMON STOCK 50
INSURANCE 135
500 Physician Corp of America 6,813
*
16
Growth Index Portfolio 420 COMMON STOCK 50
INSURANCE 135
700 Progressive Corp 26,863
16
Growth Index Portfolio 420 COMMON STOCK 50
INSURANCE 135
600 Mid Atlantic Medical Services Inc 11,100
*
16
Growth Index Portfolio 420 COMMON STOCK 50
INSURANCE 135
500 Foundation Health Corp 13,500
*
16
Growth Index Portfolio 420 COMMON STOCK 50
INSURANCE 135
400 Oxford Health Plans Inc 18,900
*
16
Growth Index Portfolio 420 COMMON STOCK 50
INSURANCE 135
300 Healthsource Inc 10,500
*
16
Growth Index Portfolio 420 COMMON STOCK 50
INSURANCE 135
400 Value Health Inc 12,900
*
16
Growth Index Portfolio 420 COMMON STOCK 50
INSURANCE 135
1,000 General RE Corp 133,875
16
Growth Index Portfolio 420 COMMON STOCK 50
INSURANCE 135
300 Conseco Inc 13,613
16
Growth Index Portfolio 420 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
16.0% 500 Marvel Entertainment Group Inc
7,750 *
16
Growth Index Portfolio 420 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
400 Starbucks Corp 14,250
*
16
Growth Index Portfolio 420 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
200 Talbots Inc 7,950
16
Growth Index Portfolio 420 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
200 Nine West Group Inc 7,300
*
16
Growth Index Portfolio 420 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
9,600 Pepsico Inc 438,000
16
Growth Index Portfolio 420 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
10,300 Philip Morris Companies Inc 766,063
16
Growth Index Portfolio 420 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
300 Phillips-Van Heusen Corp 4,650
16
Growth Index Portfolio 420 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
1,500 Shaw Industries Inc 25,500
16
Growth Index Portfolio 420 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
2,687 Mattel Inc 69,862
16
Growth Index Portfolio 420 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
2,000 Rubbermaid Inc 55,500
16
Growth Index Portfolio 420 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
800 Reebok International Ltd 27,200
16
Growth Index Portfolio 420 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
1,900 Newell Co 46,550
16
Growth Index Portfolio 420 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
600 McGraw-Hill Inc 45,525
16
Growth Index Portfolio 420 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
1,600 Quaker Oats Co 52,600
16
Growth Index Portfolio 420 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
400 Russell Corp 11,500
16
Growth Index Portfolio 420 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
1,000 McCormick & Company Inc 21,500
16
Growth Index Portfolio 420 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
1,200 Readers Digest Association Inc 52,950
16
Growth Index Portfolio 420 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
220 The Scripps (EW) Co 7,095
16
Growth Index Portfolio 420 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
5,900 Sara Lee Corp 168,150
16
Growth Index Portfolio 420 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
700 Premark International Inc 36,313
16
Growth Index Portfolio 420 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
900 Pioneer Hi-Bred International Inc 37,800
16
Growth Index Portfolio 420 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
1,000 Ralston-Ralston Purina Group 51,000
16
Growth Index Portfolio 420 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
2,600 Heinz (H J) Co 115,375
16
Growth Index Portfolio 420 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
1,800 CPC International Inc 111,150
16
Growth Index Portfolio 420 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
200 Bed Bath & Beyond Inc 4,850
*
16
Growth Index Portfolio 420 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
900 Hasbro Inc 28,575
16
Growth Index Portfolio 420 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
1,200 International Flavors & Fragrances Inc 59,700
16
Growth Index Portfolio 420 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
600 VF Corp 32,250
16
Growth Index Portfolio 420 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
200 Franklin Quest Co 4,800
*
16
Growth Index Portfolio 420 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
200 Houghton Mifflin Co 10,550
16
Growth Index Portfolio 420 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
300 Hon Industries Inc 7,950
16
Growth Index Portfolio 420 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
3,000 ConAgra Inc 104,625
16
Growth Index Portfolio 420 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
200 Jones Apparel Group Inc 5,975
*
16
Growth Index Portfolio 420 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
1,800 Colgate-Palmolive Co 131,625
16
Growth Index Portfolio 420 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
4,800 Gillette Co 214,200
16
Growth Index Portfolio 420 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
15,500 Coca-Cola Co 988,125
16
Growth Index Portfolio 420 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
900 Fruit of the Loom Inc 19,013
*
16
Growth Index Portfolio 420 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
300 Hillenbrand Industries Inc 9,338
16
Growth Index Portfolio 420 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
1,200 Brunswick Corp 20,400
16
Growth Index Portfolio 420 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
800 Avon Products Inc 53,600
16
Growth Index Portfolio 420 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
600 Dow Jones & Company Inc 22,125
16
Growth Index Portfolio 420 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
1,900 General Mills Inc 97,613
16
Growth Index Portfolio 420 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
1,300 Wm Wrigley Jr Co 60,288
16
Growth Index Portfolio 420 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
159 Land's End Inc 2,584
*
16
Growth Index Portfolio 420 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
1,100 Dial Corp 27,225
16
Growth Index Portfolio 420 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
100 Washington Post Co 26,100
16
Growth Index Portfolio 420 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
900 Tyson Foods Inc 20,813
16
Growth Index Portfolio 420 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
400 Leggett & Platt Inc 17,600
16
Growth Index Portfolio 420 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
600 Harcourt General Inc 25,500
16
Growth Index Portfolio 420 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
300 Lee Enterprises Inc 11,438
16
Growth Index Portfolio 420 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
233 Lancaster Colony Corp 8,330
16
Growth Index Portfolio 420 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
2,900 Anheuser-Busch Companies Inc 164,938
16
Growth Index Portfolio 420 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
1,700 Campbell Soup Co 83,300
16
Growth Index Portfolio 420 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
800 Unifi Inc 19,200
16
Growth Index Portfolio 420 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
400 Harland (John H) Co 9,150
16
Growth Index Portfolio 420 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
400 Warnaco Group Inc 8,000
16
Growth Index Portfolio 420 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
1,500 Kellogg Co 107,063
16
Growth Index Portfolio 420 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
12.7% 500 Clorox Co
32,625
16
Growth Index Portfolio 420 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
400 Cincinnati Milacron Inc 10,800
16
Growth Index Portfolio 420 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
900 Mallinckrodt Group Inc 31,950
16
Growth Index Portfolio 420 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
900 Cooper Tire & Rubber Co 21,938
16
Growth Index Portfolio 420 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,600 Warner-Lambert Co 138,200
16
Growth Index Portfolio 420 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
200 Chiron Corp 13,000
16
Growth Index Portfolio 420 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
2,800 Corning Inc 91,700
16
Growth Index Portfolio 420 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
600 Crompton & Knowles Corp 8,475
16
Growth Index Portfolio 420 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
900 Crown Cork & Seal Company Inc 45,113
*
16
Growth Index Portfolio 420 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
400 Danaher Corp 12,100
16
Growth Index Portfolio 420 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,700 Praxair Inc 42,500
16
Growth Index Portfolio 420 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
2,500 PPG Industries Inc 107,500
16
Growth Index Portfolio 420 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
500 Rhone Poulenc Rorer Inc 20,438
16
Growth Index Portfolio 420 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
425 Schulman (A) Inc 12,219
16
Growth Index Portfolio 420 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
700 RPM Inc 13,913
16
Growth Index Portfolio 420 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
3,800 American Home Products Corp 294,025
16
Growth Index Portfolio 420 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,700 Baker Hughes Inc 34,850
16
Growth Index Portfolio 420 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
151 ARCO Chemical Co 6,852
16
Growth Index Portfolio 420 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
300 Stewart & Stevenson Services Inc 10,913
16
Growth Index Portfolio 420 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,000 Worthington Industries Inc 20,437
16
Growth Index Portfolio 420 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,000 Alza Corp 23,375
*
16
Growth Index Portfolio 420 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,150 Sonoco Products Co 28,463
16
Growth Index Portfolio 420 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
700 Albemarle Corp 10,938
16
Growth Index Portfolio 420 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
400 Tambrands Inc 17,100
16
Growth Index Portfolio 420 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
300 Airgas Inc 8,063
*
16
Growth Index Portfolio 420 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
300 Bandag Inc 18,750
16
Growth Index Portfolio 420 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,390 Bay Networks Inc 57,511
*
16
Growth Index Portfolio 420 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
200 Watts Industries Inc 5,012
16
Growth Index Portfolio 420 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
300 Scherer (R P) International Corp 12,675
*
16
Growth Index Portfolio 420 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
310 Wausau Paper Mills Co 7,072
16
Growth Index Portfolio 420 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
2,400 Caterpillar Inc 154,200
16
Growth Index Portfolio 420 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
800 Callaway Golf Co 12,000
16
Growth Index Portfolio 420 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
300 Birmingham Steel Corp 5,550
16
Growth Index Portfolio 420 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
4,500 Schering-Plough Corp 198,563
16
Growth Index Portfolio 420 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
600 Bemis Company Inc 15,600
16
Growth Index Portfolio 420 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
900 Sherwin-Williams Co 32,063
16
Growth Index Portfolio 420 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
300 Betz Laboratories Inc 13,575
16
Growth Index Portfolio 420 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
600 Sigma Aldrich Corp 29,475
16
Growth Index Portfolio 420 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
700 Dover Corp 50,925
16
Growth Index Portfolio 420 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
800 3Com Corp 53,549
*
16
Growth Index Portfolio 420 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
500 USG Corp 11,875
*
16
Growth Index Portfolio 420 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
200 Trimas Corp 4,600
16
Growth Index Portfolio 420 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,100 Nucor Corp 58,850
16
Growth Index Portfolio 420 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
500 Trinity Industries Inc 16,625
16
Growth Index Portfolio 420 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
400 Hanna (M A) Co 10,400
16
Growth Index Portfolio 420 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
200 Nordson Corp 10,900
16
Growth Index Portfolio 420 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
200 Valspar Corp 7,575
16
Growth Index Portfolio 420 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,000 Mylan Laboratories Inc 30,750
16
Growth Index Portfolio 420 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
800 Nalco Chemical Co 29,100
16
Growth Index Portfolio 420 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
300 Trinova Corp 10,500
16
Growth Index Portfolio 420 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,100 Illinois Tool Works Inc 60,500
16
Growth Index Portfolio 420 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,400 Hercules Inc 68,250
16
Growth Index Portfolio 420 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
300 Millipore Corp 20,250
16
Growth Index Portfolio 420 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
5,100 Minnesota Mining & Manufacturing Co 291,975
16
Growth Index Portfolio 420 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,800 Morton International Inc 52,650
16
Growth Index Portfolio 420 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,400 Monsanto Co 126,175
16
Growth Index Portfolio 420 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
800 Great Lakes Chemical Corp 48,200
16
Growth Index Portfolio 420 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
2,000 Kimberly-Clark Corp 119,750
16
Growth Index Portfolio 420 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
9,800 Abbott Laboratories 396,900
16
Growth Index Portfolio 420 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
140 Marquette Electronics Inc 2,223
*
16
Growth Index Portfolio 420 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
2,100 EMC Corp 50,925
*
16
Growth Index Portfolio 420 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
600 Owens-Corning Fiberglas Corp 22,125
*
16
Growth Index Portfolio 420 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
800 Engelhard Corp 34,300
16
Growth Index Portfolio 420 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
250 Martin Marietta Materials Inc 5,000
16
Growth Index Portfolio 420 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
700 Perrigo Co 7,743
*
16
Growth Index Portfolio 420 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
3,900 Pfizer Inc 360,263
16
Growth Index Portfolio 420 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,400 Pall Corp 31,150
16
Growth Index Portfolio 420 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
400 Loctite Corp 18,200
16
Growth Index Portfolio 420 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,200 Owens-Illinois Inc 15,600
*
16
Growth Index Portfolio 420 COMMON STOCK 50
MINING 105
0.5% 300 Mapco Inc
17,400
16
Growth Index Portfolio 420 COMMON STOCK 50
MINING 105
1,700 Homestake Mining Co 28,050
16
Growth Index Portfolio 420 COMMON STOCK 50
MINING 105
738 Freeport-McMoran Copper & Gold Inc 15,221
16
Growth Index Portfolio 420 COMMON STOCK 50
MINING 105
1,024 Newmont Mining Corp 42,880
16
Growth Index Portfolio 420 COMMON STOCK 50
MINING 105
1,000 Battle Mountain Gold Co 9,625
16
Growth Index Portfolio 420 COMMON STOCK 50
MINING 105
1,500 Santa Fe Pacific Gold Corp 18,188
16
Growth Index Portfolio 420 COMMON STOCK 50
OIL & GAS 100
1.5% 700 Union Texas Petroleum Holdings
Inc 14,788
16
Growth Index Portfolio 420 COMMON STOCK 50
OIL & GAS 100
800 Apache Corp 21,900
16
Growth Index Portfolio 420 COMMON STOCK 50
OIL & GAS 100
400 Triton Energy Corp 18,550
16
Growth Index Portfolio 420 COMMON STOCK 50
OIL & GAS 100
700 Anadarko Petroleum Corp 30,188
16
Growth Index Portfolio 420 COMMON STOCK 50
OIL & GAS 100
3,000 Unocal Corp 82,875
16
Growth Index Portfolio 420 COMMON STOCK 50
OIL & GAS 100
2,500 Phillips Petroleum Co 83,438
16
Growth Index Portfolio 420 COMMON STOCK 50
OIL & GAS 100
300 Tosco Corp 9,563
16
Growth Index Portfolio 420 COMMON STOCK 50
OIL & GAS 100
1,500 Burlington Resources Inc 55,313
16
Growth Index Portfolio 420 COMMON STOCK 50
OIL & GAS 100
300 Lousiana Land & Exploration Co 11,963
16
Growth Index Portfolio 420 COMMON STOCK 50
OIL & GAS 100
1,800 Freeport-McMoran Inc 31,725
16
Growth Index Portfolio 420 COMMON STOCK 50
OIL & GAS 100
400 Noble Affiliates Inc 10,200
16
Growth Index Portfolio 420 COMMON STOCK 50
OIL & GAS 100
400 Enron Oil & Gas Co 8,700
16
Growth Index Portfolio 420 COMMON STOCK 50
OIL & GAS 100
400 Parker & Parsley Petroleum Co 7,850
16
Growth Index Portfolio 420 COMMON STOCK 50
OIL & GAS 100
2,200 Dresser Industries Inc 48,950
16
Growth Index Portfolio 420 COMMON STOCK 50
OTHER ASSET-BACKED 70
0.1%
800 Green Tree Financial Corp 35,500
16
Growth Index Portfolio 420 COMMON STOCK 50
OTHER TRANS. SERVICES 165
0.3%
600 Tidewater Inc 15,075
16
Growth Index Portfolio 420 COMMON STOCK 50
OTHER TRANS. SERVICES 165
900 Southern Pacific Rail Corp 14,175
*
16
Growth Index Portfolio 420 COMMON STOCK 50
OTHER TRANS. SERVICES 165
700 Federal Express Corp 42,525
*
16
Growth Index Portfolio 420 COMMON STOCK 50
OTHER TRANS. SERVICES 165
200 J B Hunt Transport Services Inc 3,675
16
Growth Index Portfolio 420 COMMON STOCK 50
OTHER TRANS. SERVICES 165
200 Werner Enterprises Inc 4,000
16
Growth Index Portfolio 420 COMMON STOCK 50
RAILROADS 175
0.4%
500 Kansas City Southern Industries Inc 18,625
16
Growth Index Portfolio 420 COMMON STOCK 50
RAILROADS 175
1,100 Burlington Northern Railroad Co 69,713
16
Growth Index Portfolio 420 COMMON STOCK 50
RAILROADS 175
500 Illinois Central Corp 17,250
16
Growth Index Portfolio 420 COMMON STOCK 50
REAL ESTATE 150
0.1%
300 Vornado Realty Trust 10,463
16
Growth Index Portfolio 420 COMMON STOCK 50
REAL ESTATE 150
500 The Rouse Co 9,813
16
Growth Index Portfolio 420 COMMON STOCK 50
RETAIL TRADE 207
7.7%
1,500 Walgreen Co 75,188
16
Growth Index Portfolio 420 COMMON STOCK 50
RETAIL TRADE 207
16,700 Wal-Mart Stores Inc 446,725
16
Growth Index Portfolio 420 COMMON STOCK 50
RETAIL TRADE 207
500 Winn-Dixie Stores Inc 28,875
16
Growth Index Portfolio 420 COMMON STOCK 50
RETAIL TRADE 207
500 Viking Office Products Inc 18,313
*
16
Growth Index Portfolio 420 COMMON STOCK 50
RETAIL TRADE 207
900 TJX Companies Inc 11,925
16
Growth Index Portfolio 420 COMMON STOCK 50
RETAIL TRADE 207
1,200 Wendy's International Inc 21,450
16
Growth Index Portfolio 420 COMMON STOCK 50
RETAIL TRADE 207
3,100 Toys R Us Inc 90,675
*
16
Growth Index Portfolio 420 COMMON STOCK 50
RETAIL TRADE 207
700 The Pep Boys - Manny Moe & Jack 18,725
16
Growth Index Portfolio 420 COMMON STOCK 50
RETAIL TRADE 207
1,100 Kroger Co 29,563
*
16
Growth Index Portfolio 420 COMMON STOCK 50
RETAIL TRADE 207
5,500 Home Depot Inc 223,438
16
Growth Index Portfolio 420 COMMON STOCK 50
RETAIL TRADE 207
300 AnnTaylor Stores Corp 6,975
*
16
Growth Index Portfolio 420 COMMON STOCK 50
RETAIL TRADE 207
1,300 Gap Inc 45,338
16
Growth Index Portfolio 420 COMMON STOCK 50
RETAIL TRADE 207
500 General Nutrition Cos 17,563
*
16
Growth Index Portfolio 420 COMMON STOCK 50
RETAIL TRADE 207
400 Hannaford Brothers Co 11,400
16
Growth Index Portfolio 420 COMMON STOCK 50
RETAIL TRADE 207
500 Heilig-Meyers Co 12,750
16
Growth Index Portfolio 420 COMMON STOCK 50
RETAIL TRADE 207
700 Home Shopping Network Inc 5,950
*
16
Growth Index Portfolio 420 COMMON STOCK 50
RETAIL TRADE 207
600 Fingerhut Companies Inc 9,375
16
Growth Index Portfolio 420 COMMON STOCK 50
RETAIL TRADE 207
300 Intelligent Electronics Inc 4,088
16
Growth Index Portfolio 420 COMMON STOCK 50
RETAIL TRADE 207
300 Kohls Corp 13,688
*
16
Growth Index Portfolio 420 COMMON STOCK 50
RETAIL TRADE 207
500 Bob Evans Farms Inc 10,188
16
Growth Index Portfolio 420 COMMON STOCK 50
RETAIL TRADE 207
1,500 Lowe's Companies Inc 44,813
16
Growth Index Portfolio 420 COMMON STOCK 50
RETAIL TRADE 207
4,400 Food Lion Inc 26,950
16
Growth Index Portfolio 420 COMMON STOCK 50
RETAIL TRADE 207
500 Family Dollar Stores Inc 7,375
16
Growth Index Portfolio 420 COMMON STOCK 50
RETAIL TRADE 207
8,500 McDonald's Corp 332,563
16
Growth Index Portfolio 420 COMMON STOCK 50
RETAIL TRADE 207
1,200 Circuit City Stores Inc 37,950
16
Growth Index Portfolio 420 COMMON STOCK 50
RETAIL TRADE 207
850 Brinker International Inc 14,663
*
16
Growth Index Portfolio 420 COMMON STOCK 50
RETAIL TRADE 207
200 Burlington Coat Factory Warehouse Corp 2,075
*
16
Growth Index Portfolio 420 COMMON STOCK 50
RETAIL TRADE 207
400 Best Buy Inc 10,650
*
16
Growth Index Portfolio 420 COMMON STOCK 50
RETAIL TRADE 207
1,300 Charming Shoppes Inc 6,825
16
Growth Index Portfolio 420 COMMON STOCK 50
RETAIL TRADE 207
600 CML Group Inc 4,725
16
Growth Index Portfolio 420 COMMON STOCK 50
RETAIL TRADE 207
831 Dollar General Corp 26,280
16
Growth Index Portfolio 420 COMMON STOCK 50
RETAIL TRADE 207
200 Barnes & Noble Inc 6,800
*
16
Growth Index Portfolio 420 COMMON STOCK 50
RETAIL TRADE 207
700 Cracker Barrel Old Country Store Inc 14,438
16
Growth Index Portfolio 420 COMMON STOCK 50
RETAIL TRADE 207
1,900 Darden Restaurants Inc 20,663
*
16
Growth Index Portfolio 420 COMMON STOCK 50
RETAIL TRADE 207
1,600 Autozone Inc 40,200
*
16
Growth Index Portfolio 420 COMMON STOCK 50
RETAIL TRADE 207
3,000 May Department Stores Co 124,875
16
Growth Index Portfolio 420 COMMON STOCK 50
RETAIL TRADE 207
3,200 Limited Inc 70,400
16
Growth Index Portfolio 420 COMMON STOCK 50
RETAIL TRADE 207
2,800 Albertson's Inc 83,300
16
Growth Index Portfolio 420 COMMON STOCK 50
RETAIL TRADE 207
200 Spiegel Inc 2,550
16
Growth Index Portfolio 420 COMMON STOCK 50
RETAIL TRADE 207
550 Petsmart Inc 15,813
*
16
Growth Index Portfolio 420 COMMON STOCK 50
RETAIL TRADE 207
600 Stop & Shop Companies Inc 15,375
*
16
Growth Index Portfolio 420 COMMON STOCK 50
RETAIL TRADE 207
800 Staples Inc 23,100
*
16
Growth Index Portfolio 420 COMMON STOCK 50
RETAIL TRADE 207
1,800 Southland Corp 6,187
*
16
Growth Index Portfolio 420 COMMON STOCK 50
RETAIL TRADE 207
400 Shoney's Inc 4,700
*
16
Growth Index Portfolio 420 COMMON STOCK 50
RETAIL TRADE 207
600 Revco D S Inc 14,400
*
16
Growth Index Portfolio 420 COMMON STOCK 50
RETAIL TRADE 207
1,400 Safeway Inc 52,325
*
16
Growth Index Portfolio 420 COMMON STOCK 50
RETAIL TRADE 207
1,200 Service Merchandise Company Inc 6,300
*
16
Growth Index Portfolio 420 COMMON STOCK 50
RETAIL TRADE 207
400 Outback Steakhouse Inc 11,550
*
16
Growth Index Portfolio 420 COMMON STOCK 50
RETAIL TRADE 207
1,550 Office Depot Inc 43,594
*
16
Growth Index Portfolio 420 COMMON STOCK 50
RETAIL TRADE 207
600 Nordstrom Inc 24,825
16
Growth Index Portfolio 420 COMMON STOCK 50
RETAIL TRADE 207
200 Michaels Stores Inc 4,250
*
16
Growth Index Portfolio 420 COMMON STOCK 50
RETAIL TRADE 207
300 Morrison Restaurants Inc 7,200
16
Growth Index Portfolio 420 COMMON STOCK 50
RETAIL TRADE 207
200 Micro Warehouse Inc 9,200
*
16
Growth Index Portfolio 420 COMMON STOCK 50
SECURITIES & COMMODITIE 145
0.7%
1,300 Lehman Brothers Holdings Inc 28,438
16
Growth Index Portfolio 420 COMMON STOCK 50
SECURITIES & COMMODITIE 145
650 Schwab (Charles) & Company Inc 28,194
16
Growth Index Portfolio 420 COMMON STOCK 50
SECURITIES & COMMODITIE 145
147 John Nuveen Co 3,528
16
Growth Index Portfolio 420 COMMON STOCK 50
SECURITIES & COMMODITIE 145
300 T Rowe Price & Associates Inc 11,550
16
Growth Index Portfolio 420 COMMON STOCK 50
SECURITIES & COMMODITIE 145
400 SunAmerica Inc 20,400
16
Growth Index Portfolio 420 COMMON STOCK 50
SECURITIES & COMMODITIE 145
400 United Asset Management Corp 14,250
16
Growth Index Portfolio 420 COMMON STOCK 50
SECURITIES & COMMODITIE 145
2,100 Dean Witter Discover & Co 98,700
16
Growth Index Portfolio 420 COMMON STOCK 50
TELEPHONE
85 1.0%
700 ADC Telecommunications Inc 25,025
*
16
Growth Index Portfolio 420 COMMON STOCK 50
TELEPHONE
85
400 Century Telephone Enterprises Inc 11,350
16
Growth Index Portfolio 420 COMMON STOCK 50
TELEPHONE
85
8,300 MCI Communications Corp 182,600
16
Growth Index Portfolio 420 COMMON STOCK 50
TELEPHONE
85
2,300 Alltel Corp 58,363
16
Growth Index Portfolio 420 COMMON STOCK 50
TRANSPORTATION EQUIPMEN 170
1.3%
500 Fleetwood Enterprises Inc 9,875
16
Growth Index Portfolio 420 COMMON STOCK 50
TRANSPORTATION EQUIPMEN 170
300 Modine Manufacturing Co 11,025
16
Growth Index Portfolio 420 COMMON STOCK 50
TRANSPORTATION EQUIPMEN 170
300 Superior Industries International Inc 9,338
16
Growth Index Portfolio 420 COMMON STOCK 50
TRANSPORTATION EQUIPMEN 170
900 Harley-Davidson Inc 21,938
16
Growth Index Portfolio 420 COMMON STOCK 50
TRANSPORTATION EQUIPMEN 170
200 Xtra Corp 9,250
16
Growth Index Portfolio 420 COMMON STOCK 50
TRANSPORTATION EQUIPMEN 170
3,300 General Motors Corp 143,550
16
Growth Index Portfolio 420 COMMON STOCK 50
TRANSPORTATION EQUIPMEN 170
3,500 Allied-Signal Inc 155,750
16
Growth Index Portfolio 420 COMMON STOCK 50
TRANSPORTATION EQUIPMEN 170
200 Breed Technologies Inc 4,800
16
Growth Index Portfolio 420 COMMON STOCK 50
WHOLESALE TRADE - INDL 197
0.4%
700 Alco Standard Corp 55,913
16
Growth Index Portfolio 420 COMMON STOCK 50
WHOLESALE TRADE - INDL 197
300 Sybron International Corp 11,963
*
16
Growth Index Portfolio 420 COMMON STOCK 50
WHOLESALE TRADE - INDL 197
500 McKesson Corp 23,375
16
Growth Index Portfolio 420 COMMON STOCK 50
WHOLESALE TRADE - INDL 197
400 Premier Industrial Corp 9,450
16
Growth Index Portfolio 420 COMMON STOCK 50
WHOLESALE TRADE -CONSUM 209
2.7%
425 Cardinal Health Inc 20,081
16
Growth Index Portfolio 420 COMMON STOCK 50
WHOLESALE TRADE -CONSUM 209
1,000 Sunbeam-Oster Co 13,875
16
Growth Index Portfolio 420 COMMON STOCK 50
WHOLESALE TRADE -CONSUM 209
8,400 Procter & Gamble Co 603,750
16
Growth Index Portfolio 420 COMMON STOCK 50
WHOLESALE TRADE -CONSUM 209
300 Nike Inc 25,200
16
Growth Index Portfolio 420 COMMON STOCK 50
WHOLESALE TRADE -CONSUM 209
2,200 Sysco Corp 64,900
16
Growth Index Portfolio 420 COMMON STOCK 50
WHOLESALE TRADE -CONSUM 205
700 Bausch & Lomb Inc 29,050
16
Growth Index Portfolio 420 COMMON STOCK 50
WHOLESALE TRADE -CONSUM 209
138 Herbalife International Inc 1,725
16
Growth Index Portfolio 420 COMMON STOCK 50
WHOLESALE TRADE -CONSUM 209
300 Department 56 Inc 11,475
*
16
Growth Index Portfolio 420 COMMON STOCK 50
WHOLESALE TRADE -CONSUM 209
20 Coleman Company Inc 710
*********************
16
Growth Index Portfolio 420 SHORT-TERM INVESTMENT 10
3.9%FOREIGN BANKS 130 3.9%
1,135,000 Canadian Imperial Bank of Commerce *********1,135,000
1,135,000 ********************
16
Investment Grade Corporate 260 BONDS 20
97.7%COMMUNICATIONS 190 4.9%
1,250,000 Scripps Howard Broadcasting Co *********
December 15, 1Global Notes 7.375% 17
Investment Grade Corporate 260 BONDS 20
COMMUNICATIONS 190
3,000,000 Cox Communications Inc *********
June 15, 2000 Notes 6.375% 17
Investment Grade Corporate 260 BONDS 20
CONSUMER SERVICES 211
2.5%
2,000,000 Ryder Systems Inc *********
January 25, 20Medium Term Notes 8.300% 17
Investment Grade Corporate 260 BONDS 20
CREDIT INSTITUTIONS 125
17.9%
1,000,000 Ford Motor Credit Co 980,000
June 30, 2003 Notes 6.625% 17
Investment Grade Corporate 260 BONDS 20
CREDIT INSTITUTIONS 125
2,000,000 Household International BV *********
March 15, 1999Senior Notes 6.000% 17
Investment Grade Corporate 260 BONDS 20
CREDIT INSTITUTIONS 125
3,000,000 Countrywide Funding Corp *********
April 15, 2003Medium Term Notes 6.960% 17
Investment Grade Corporate 260 BONDS 20
CREDIT INSTITUTIONS 125
2,000,000 General Motors Acceptance Corp *********
May 5, 2003 Medium Term Notes 7.625% 17
Investment Grade Corporate 260 BONDS 20
CREDIT INSTITUTIONS 125
2,000,000 Grand Metropolitan Investment Corp *********
August 15, 200Debentures 8.625% 17
Investment Grade Corporate 260 BONDS 20
CREDIT INSTITUTIONS 125
2,000,000 Associates Corp of North America *********
September 30, Notes 7.875% 17
Investment Grade Corporate 260 BONDS 20
CREDIT INSTITUTIONS 125
3,000,000 Commercial Credit Corp Ltd *********
March 15, 2002Notes 7.375% 17
Investment Grade Corporate 260 BONDS 20
ELECTRIC
75 8.3%
2,000,000 Florida Power & Light Co *********
July 1, 1999 First Mortgage Bonds 5.500% 17
Investment Grade Corporate 260 BONDS 20
ELECTRIC
75
3,000,000 Commonwealth Edison Co *********
January 1, 200First Mortgage Bonds 7.500% 17
Investment Grade Corporate 260 BONDS 20
ELECTRIC
75
2,000,000 Metropolitan Edison Co *********
March 1, 2002 Secured Medium Term No 8.050% 17
Investment Grade Corporate 260 BONDS 20
ELECTRONICS - HIGH TECH 205
8.4%
2,000,000 Xerox Corp *********
August 1, 2004Notes 7.150% 17
Investment Grade Corporate 260 BONDS 20
ELECTRONICS - HIGH TECH 205
3,000,000 General Electric Co *********
September 15, Notes 7.875% 17
Investment Grade Corporate 260 BONDS 20
ELECTRONICS - HIGH TECH 205
2,000,000 Emerson Electric Co *********
June 5, 1998 Notes 7.875% 17
Investment Grade Corporate 260 BONDS 20
FOREIGN BANKS 130
7.5%
3,000,000 Midland Bank PLC *********
December 15, 2Yankee Sub Notes 8.625% 17
Investment Grade Corporate 260 BONDS 20
FOREIGN BANKS 130
3,000,000 BCH Cayman Island *********
June 15, 2004 Yankee Subordinated No 8.250% 17
Investment Grade Corporate 260 BONDS 20
FOREIGN GOVERNMENTS 35
2.2%
2,000,000 Republic of Italy *********
September 27, Global Notes 6.000% 17
Investment Grade Corporate 260 BONDS 20
GAS 80
1.2%
1,000,000 British Gas PLC *********
March 15, 1998Yankee Bonds 8.750% 17
Investment Grade Corporate 260 BONDS 20
INDUSTRIAL SERVICES 199
3.4%
3,000,000 Comdisco Inc *********
June 15, 2000 Notes 6.500% 17
Investment Grade Corporate 260 BONDS 20
MFTG - CONSUMER PRODS. 215
4.8%
2,000,000 Coca-Cola Enterprises Inc *********
November 15, 1Notes 7.000% 17
Investment Grade Corporate 260 BONDS 20
MFTG - CONSUMER PRODS. 215
2,000,000 Reed Publishing Inc *********
July 9, 1997 Eurodollar Notes 9.625% 17
Investment Grade Corporate 260 BONDS 20
MFTG - INDUSTRIAL PRODS 195
14.5%
3,000,000 Abbott Laboratories *********
May 15, 2005 Notes 6.800% 17
Investment Grade Corporate 260 BONDS 20
MFTG - INDUSTRIAL PRODS 195
2,250,000 Lilly (Eli) & Co *********
March 15, 2003Notes 6.250% 17
Investment Grade Corporate 260 BONDS 20
MFTG - INDUSTRIAL PRODS 195
1,000,000 La Farge Corp *********
March 15, 1999Medium Term Notes 9.500% 17
Investment Grade Corporate 260 BONDS 20
MFTG - INDUSTRIAL PRODS 195
2,000,000 Alcan Aluminium Ltd *********
April 1, 2000 Notes 5.875% 17
Investment Grade Corporate 260 BONDS 20
MFTG - INDUSTRIAL PRODS 195
1,000,000 Ford Capital BV *********
August 9, 2000Eurodollar Bonds 9.500% 17
Investment Grade Corporate 260 BONDS 20
MFTG - INDUSTRIAL PRODS 195
2,761,000 Champion International Corp *********
May 1, 2001 Notes 9.700% 17
Investment Grade Corporate 260 BONDS 20
OIL & GAS 100
2.6%
2,000,000 BP America Inc *********
March 1, 1999 Guaranteed Eurodollar 9.750% 17
Investment Grade Corporate 260 BONDS 20
REAL ESTATE 150
3.6%
3,000,000 Wharf Capital International Ltd *********
November 1, 20Yankee Notes 8.875% 17
Investment Grade Corporate 260 BONDS 20
RETAIL TRADE 207
9.8%
1,500,000 Wal-Mart Stores Inc *********
June 1, 2003 Notes 6.500% 17
Investment Grade Corporate 260 BONDS 20
RETAIL TRADE 207
1,500,000 Bayerische Motorenwerke AG *********
March 15, 2004Eurodollar Bonds 6.625% 17
Investment Grade Corporate 260 BONDS 20
RETAIL TRADE 207
2,000,000 Wal-Mart Stores Inc *********
April 1, 2001 Notes 8.625% 17
Investment Grade Corporate 260 BONDS 20
RETAIL TRADE 207
2,000,000 May Department Stores Co *********
June 15, 2000 Debentures 9.875% 17
Investment Grade Corporate 260 BONDS 20
RETAIL TRADE 207
1,000,000 McDonald's Corp *********
February 18, 1Medium Term Notes 8.875% 17
Investment Grade Corporate 260 BONDS 20
U.S. GOVERNMENTS 5
1.3%
1,000,000 United States of America *********
February 15, 2Treasury Notes 7.750% 17
Investment Grade Corporate 260 BONDS 20
WHOLESALE TRADE -CONSUM 209
4.7%
2,000,000 Supervalu Inc *********
July 15, 1999 Notes 7.250% 17
Investment Grade Corporate 260 BONDS 20
WHOLESALE TRADE -CONSUM 209
2,000,000 Electrolux AB
*****************************
January 29, 19Eurodollar Notes 7.000% 17
Investment Grade Corporate 260 SHORT-TERM INVESTMENT 10
2.3%FOREIGN BANKS 130 2.3%
2,012,000 Canadian Imperial Bank of Commerce *********2,012,000
2,012,000 ********************
17
Small-Cap Aggressive Growth 435 COMMON STOCK 50
86.0%COMMUNICATIONS 190 2.8%
3,000 HighwayMaster Communications Inc 45,750
*
18
Small-Cap Aggressive Growth 435 COMMON STOCK 50
COMMUNICATIONS 190
16,600 Intelcom Group Inc 148,354
*
18
Small-Cap Aggressive Growth 435 COMMON STOCK 50
COMMUNICATIONS 190
9,000 Centennial Cellular Co 150,750
*
18
Small-Cap Aggressive Growth 435 COMMON STOCK 50
COMMUNICATIONS 190
5,700 Pronet Inc 116,850
*
18
Small-Cap Aggressive Growth 435 COMMON STOCK 50
COMMUNICATIONS 190
3,800 Sinclair Broadcast Group Inc 106,400
*
18
Small-Cap Aggressive Growth 435 COMMON STOCK 50
CONSTRUCTION 203
0.9%
8,000 J Ray McDermott SA 177,000
*
18
Small-Cap Aggressive Growth 435 COMMON STOCK 50
CONSUMER SERVICES 211
8.6%
5,000 Community Health Systems Inc 169,375
*
18
Small-Cap Aggressive Growth 435 COMMON STOCK 50
CONSUMER SERVICES 211
3,100 Carmike Cinemas Inc 75,175
*
18
Small-Cap Aggressive Growth 435 COMMON STOCK 50
CONSUMER SERVICES 211
4,000 Mountasia Entertainment International 27,000
*
18
Small-Cap Aggressive Growth 435 COMMON STOCK 50
CONSUMER SERVICES 211
8,800 Healthsouth Rehabilitation Corp 152,900
*
18
Small-Cap Aggressive Growth 435 COMMON STOCK 50
CONSUMER SERVICES 211
7,400 Horizon Outlet Centers Inc 172,050
18
Small-Cap Aggressive Growth 435 COMMON STOCK 50
CONSUMER SERVICES 211
18,200 Regency Health Services Inc 191,100
*
18
Small-Cap Aggressive Growth 435 COMMON STOCK 50
CONSUMER SERVICES 211
11,400 Health Images Inc 69,825
18
Small-Cap Aggressive Growth 435 COMMON STOCK 50
CONSUMER SERVICES 211
6,400 Sierra Health Services Inc 156,800
*
18
Small-Cap Aggressive Growth 435 COMMON STOCK 50
CONSUMER SERVICES 211
6,500 Summit Care Corp 118,625
*
18
Small-Cap Aggressive Growth 435 COMMON STOCK 50
CONSUMER SERVICES 211
7,000 Supertel Hospitality Inc 94,500
*
18
Small-Cap Aggressive Growth 435 COMMON STOCK 50
CONSUMER SERVICES 211
6,500 American Medical Response Inc 182,000
*
18
Small-Cap Aggressive Growth 435 COMMON STOCK 50
CONSUMER SERVICES 211
6,000 Genesis Health Ventures Inc 177,750
*
18
Small-Cap Aggressive Growth 435 COMMON STOCK 50
CONSUMER SERVICES 211
11,300 Evergreen Healthcare Inc 139,838
*
18
Small-Cap Aggressive Growth 435 COMMON STOCK 50
CREDIT INSTITUTIONS 125
3.1%
12,300 Imperial Credit Industries Inc 152,213
*
18
Small-Cap Aggressive Growth 435 COMMON STOCK 50
CREDIT INSTITUTIONS 125
2,600 Advanta Corp 98,150
18
Small-Cap Aggressive Growth 435 COMMON STOCK 50
CREDIT INSTITUTIONS 125
7,300 Aames Financial Corp 132,300
18
Small-Cap Aggressive Growth 435 COMMON STOCK 50
CREDIT INSTITUTIONS 125
3,650 The Money Store Inc 130,714
18
Small-Cap Aggressive Growth 435 COMMON STOCK 50
CREDIT INSTITUTIONS 125
4,300 Commercial Federal Corp 117,175
*
18
Small-Cap Aggressive Growth 435 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
18.8% 5,500 Harman International
Industries Inc 222,750
18
Small-Cap Aggressive Growth 435 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
9,300 Gilat Satellite Networks Ltd 211,575
*
18
Small-Cap Aggressive Growth 435 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
7,150 Gelman Sciences Inc 134,956
*
18
Small-Cap Aggressive Growth 435 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
15,800 Intervoice Inc 276,500
*
18
Small-Cap Aggressive Growth 435 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
13,900 Medisense Inc 269,313
*
18
Small-Cap Aggressive Growth 435 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
2,100 Invacare Corp 87,150
18
Small-Cap Aggressive Growth 435 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
2,600 Sofamor Danek Group Inc 58,825
*
18
Small-Cap Aggressive Growth 435 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
2,300 Zilog Inc 114,713
*
18
Small-Cap Aggressive Growth 435 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
9,200 Union Switch & Signal Inc 115,570
*
18
Small-Cap Aggressive Growth 435 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
7,900 Thermo Voltek Corp 113,563
*
18
Small-Cap Aggressive Growth 435 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
12,300 Thermedics Inc 239,850
*
18
Small-Cap Aggressive Growth 435 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
11,000 Numerex Corp 123,750
*
18
Small-Cap Aggressive Growth 435 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
900 Komag Inc 46,800
*
18
Small-Cap Aggressive Growth 435 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
7,300 Micronics Computers Inc 30,113
*
18
Small-Cap Aggressive Growth 435 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
4,200 Mentor Corp 117,075
18
Small-Cap Aggressive Growth 435 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
5,300 Lunar Corp 149,725
*
18
Small-Cap Aggressive Growth 435 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
3,000 Lam Research Corp 192,000
*
18
Small-Cap Aggressive Growth 435 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
4,000 Exar Corp 118,000
*
18
Small-Cap Aggressive Growth 435 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
5,500 International Cabletel Inc 178,750
*
18
Small-Cap Aggressive Growth 435 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
7,900 Elsag Bailey Process Automation NV 217,250
*
18
Small-Cap Aggressive Growth 435 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
4,500 Dallas Semiconductor Corp 92,250
18
Small-Cap Aggressive Growth 435 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
3,000 Cyrix Corp 72,375
*
18
Small-Cap Aggressive Growth 435 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
3,350 Conmed Corp 82,913
*
18
Small-Cap Aggressive Growth 435 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
6,300 Cable Design Technologies Corp 135,450
*
18
Small-Cap Aggressive Growth 435 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
10,600 Davel Communications Group Inc 133,825
*
18
Small-Cap Aggressive Growth 435 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
6,300 Amphenol Corp 183,488
*
18
Small-Cap Aggressive Growth 435 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
8,400 American Electronic Components Inc 63,000
*
18
Small-Cap Aggressive Growth 435 COMMON STOCK 50
ENVIRONMENTAL SERVICES 201
0.3%
1,900 United Waste Systems Inc 68,400
*
18
Small-Cap Aggressive Growth 435 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
0.8%
8,300 Liberty Property Trust 162,888
18
Small-Cap Aggressive Growth 435 COMMON STOCK 50
INDUSTRIAL SERVICES 199
5.7%
2,200 Altera Corp 95,150
*
18
Small-Cap Aggressive Growth 435 COMMON STOCK 50
INDUSTRIAL SERVICES 199
2,300 Microcom Inc 34,500
*
18
Small-Cap Aggressive Growth 435 COMMON STOCK 50
INDUSTRIAL SERVICES 199
9,000 Control Data Systems Inc 81,000
*
18
Small-Cap Aggressive Growth 435 COMMON STOCK 50
INDUSTRIAL SERVICES 199
2,050 Corrpro Companies Inc 13,581
*
18
Small-Cap Aggressive Growth 435 COMMON STOCK 50
INDUSTRIAL SERVICES 199
5,600 Ceridian Corp 206,500
*
18
Small-Cap Aggressive Growth 435 COMMON STOCK 50
INDUSTRIAL SERVICES 199
4,900 SAP AG 204,575
18
Small-Cap Aggressive Growth 435 COMMON STOCK 50
INDUSTRIAL SERVICES 199
2,700 Sterling Software Inc 103,950
*
18
Small-Cap Aggressive Growth 435 COMMON STOCK 50
INDUSTRIAL SERVICES 199
3,450 Computer Horizons Corp 55,200
*
18
Small-Cap Aggressive Growth 435 COMMON STOCK 50
INDUSTRIAL SERVICES 199
4,000 Analysts International Corp 104,000
18
Small-Cap Aggressive Growth 435 COMMON STOCK 50
INDUSTRIAL SERVICES 199
1,800 Pyxis Corp 40,725
*
18
Small-Cap Aggressive Growth 435 COMMON STOCK 50
INDUSTRIAL SERVICES 199
4,100 Bolt Beranek & Newman Inc 112,238
*
18
Small-Cap Aggressive Growth 435 COMMON STOCK 50
INDUSTRIAL SERVICES 199
6,300 Spectrum Holobyte Inc 90,166
*
18
Small-Cap Aggressive Growth 435 COMMON STOCK 50
INSURANCE 135
4.0%
6,100 Protective Life Corp 166,225
18
Small-Cap Aggressive Growth 435 COMMON STOCK 50
INSURANCE 135
6,800 Capital RE Corp 176,800
18
Small-Cap Aggressive Growth 435 COMMON STOCK 50
INSURANCE 135
6,300 Reinsurance Group America Co 180,338
18
Small-Cap Aggressive Growth 435 COMMON STOCK 50
INSURANCE 135
4,500 Triad Guaranty Inc 94,500
*
18
Small-Cap Aggressive Growth 435 COMMON STOCK 50
INSURANCE 135
6,600 Allied Group Inc 188,100
18
Small-Cap Aggressive Growth 435 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
5.1%
4,700 Kenneth Cole Productions Inc 156,863
*
18
Small-Cap Aggressive Growth 435 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
5,100 Banta Corp 169,575
18
Small-Cap Aggressive Growth 435 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
5,100 Universal Foods Corp 165,113
18
Small-Cap Aggressive Growth 435 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
2,800 Houghton Mifflin Co 147,700
18
Small-Cap Aggressive Growth 435 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
3,400 Oakwood Homes Corp 87,125
18
Small-Cap Aggressive Growth 435 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
5,400 Jones Apparel Group Inc 161,325
*
18
Small-Cap Aggressive Growth 435 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
11,500 Masland Corp 148,063
18
Small-Cap Aggressive Growth 435 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
17.1% 7,700 Intertape Polymer Group Inc
180,950
18
Small-Cap Aggressive Growth 435 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
8,000 Republic Engineered Steels Inc 62,000
*
18
Small-Cap Aggressive Growth 435 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
2,300 Cytec Industries Inc 94,013
*
18
Small-Cap Aggressive Growth 435 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
2,600 Brady W H Co 176,800
18
Small-Cap Aggressive Growth 435 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
4,200 Quanex Corp 103,950
18
Small-Cap Aggressive Growth 435 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
3,900 Wolverine Tube Inc 125,288
*
18
Small-Cap Aggressive Growth 435 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
2,900 Steel Technologies Inc 33,350
18
Small-Cap Aggressive Growth 435 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
5,000 Scotsman Industries Inc 92,500
18
Small-Cap Aggressive Growth 435 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
21,550 Griffon Corp 172,400
*
18
Small-Cap Aggressive Growth 435 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
3,600 Greenfield Industries Inc 104,400
18
Small-Cap Aggressive Growth 435 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
3,100 Aptargroup Inc 99,588
18
Small-Cap Aggressive Growth 435 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
14,000 Giant Cement Holding Inc 171,500
18
Small-Cap Aggressive Growth 435 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
17,500 Digital Biometrics Inc 188,125
*
18
Small-Cap Aggressive Growth 435 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
10,100 Thermo Fibertech Inc 200,738
*
18
Small-Cap Aggressive Growth 435 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
3,400 Gasonics International Corp 96,900
*
18
Small-Cap Aggressive Growth 435 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,900 Bush Boake Allen Inc 57,713
*
18
Small-Cap Aggressive Growth 435 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
7,800 Caraustar Industries Inc 140,400
18
Small-Cap Aggressive Growth 435 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
9,700 NCI Building Systems Inc 162,475
*
18
Small-Cap Aggressive Growth 435 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
8,300 Walbro Corp 149,400
18
Small-Cap Aggressive Growth 435 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
13,700 Huntco Inc 222,625
18
Small-Cap Aggressive Growth 435 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
8,600 United States Can Corp 134,375
*
18
Small-Cap Aggressive Growth 435 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
6,900 Mylan Laboratories Inc 212,175
18
Small-Cap Aggressive Growth 435 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
3,400 Learonal Inc 71,825
18
Small-Cap Aggressive Growth 435 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
20,600 UNR Industries Inc 151,925
18
Small-Cap Aggressive Growth 435 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
17,300 Cold Metal Products Inc 118,938
*
18
Small-Cap Aggressive Growth 435 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
7,700 Inbrand Corp 125,125
*
18
Small-Cap Aggressive Growth 435 COMMON STOCK 50
MINING 105
0.6%
2,900 Cleveland-Cliffs Inc 111,650
18
Small-Cap Aggressive Growth 435 COMMON STOCK 50
OIL & GAS 100
4.1%
10,200 Belden & Blake Corp 165,750
*
18
Small-Cap Aggressive Growth 435 COMMON STOCK 50
OIL & GAS 100
10,200 International Colin Energy Corp 53,550
*
18
Small-Cap Aggressive Growth 435 COMMON STOCK 50
OIL & GAS 100
14,400 Lomak Petroleum Inc 109,800
*
18
Small-Cap Aggressive Growth 435 COMMON STOCK 50
OIL & GAS 100
6,600 Vintage Petroleum Inc 123,750
18
Small-Cap Aggressive Growth 435 COMMON STOCK 50
OIL & GAS 100
9,400 Cross Timbers Oil Co 149,225
18
Small-Cap Aggressive Growth 435 COMMON STOCK 50
OIL & GAS 100
7,100 Production Operators Corp 223,650
18
Small-Cap Aggressive Growth 435 COMMON STOCK 50
OTHER TRANS. SERVICES 165
0.2%
2,100 Mark VII Industries Inc 34,388
*
18
Small-Cap Aggressive Growth 435 COMMON STOCK 50
REAL ESTATE 150
0.9%
8,900 Chateau Properties Inc 185,788
18
Small-Cap Aggressive Growth 435 COMMON STOCK 50
RETAIL TRADE 207
6.5%
6,600 Cole National Corp 68,475
*
18
Small-Cap Aggressive Growth 435 COMMON STOCK 50
RETAIL TRADE 207
8,600 Officemax Inc 239,725
*
18
Small-Cap Aggressive Growth 435 COMMON STOCK 50
RETAIL TRADE 207
8,300 National Convenience Stores Inc 104,788
*
18
Small-Cap Aggressive Growth 435 COMMON STOCK 50
RETAIL TRADE 207
5,700 Sunglass Hut International Inc 199,500
*
18
Small-Cap Aggressive Growth 435 COMMON STOCK 50
RETAIL TRADE 207
12,450 Cato Corp 101,156
18
Small-Cap Aggressive Growth 435 COMMON STOCK 50
RETAIL TRADE 207
18,400 Crossmann Communities Inc 188,600
*
18
Small-Cap Aggressive Growth 435 COMMON STOCK 50
RETAIL TRADE 207
12,200 Haverty Furniture Inc 125,050
18
Small-Cap Aggressive Growth 435 COMMON STOCK 50
RETAIL TRADE 207
7,300 Lillian Vernon Corp 134,138
18
Small-Cap Aggressive Growth 435 COMMON STOCK 50
RETAIL TRADE 207
9,500 Borders Group Inc 136,563
*
18
Small-Cap Aggressive Growth 435 COMMON STOCK 50
SECURITIES & COMMODITIE 145
1.2%
7,200 Eaton Vance Corp 232,200
18
Small-Cap Aggressive Growth 435 COMMON STOCK 50
TRANSPORTATION EQUIPMEN 170
2.8%
13,100 Monaco Coach Corp 209,600
*
18
Small-Cap Aggressive Growth 435 COMMON STOCK 50
TRANSPORTATION EQUIPMEN 170
12,700 Johnstown American Industries Inc 131,763
*
18
Small-Cap Aggressive Growth 435 COMMON STOCK 50
TRANSPORTATION EQUIPMEN 170
9,700 Greenbrier Companies Inc 127,313
18
Small-Cap Aggressive Growth 435 COMMON STOCK 50
TRANSPORTATION EQUIPMEN 170
6,200 Durakon Industries Inc 94,550
*
18
Small-Cap Aggressive Growth 435 COMMON STOCK 50
WHOLESALE TRADE - INDL 197
1.4%
6,400 Hahn Automotive Warehouse Inc 62,400
*
18
Small-Cap Aggressive Growth 435 COMMON STOCK 50
WHOLESALE TRADE - INDL 197
12,400 Castech Aluminum Group 221,650
*
18
Small-Cap Aggressive Growth 435 COMMON STOCK 50
WHOLESALE TRADE -CONSUM 209
1.1%
7,000 Congoleum Corp 93,625
*
18
Small-Cap Aggressive Growth 435 COMMON STOCK 50
WHOLESALE TRADE -CONSUM 209
8,400 International Recovery Corp 123,900
********************
18
Small-Cap Aggressive Growth 435 SHORT-TERM INVESTMENT 10
14.0%CREDIT INSTITUTIONS 125 4.7%
940,000 Sanwa Business Credit Corp 938,595
18
Small-Cap Aggressive Growth 435 SHORT-TERM INVESTMENT 10
FOREIGN BANKS 130
4.7%
944,000 Canadian Imperial Bank of Commerce 944,000
18
Small-Cap Aggressive Growth 435 SHORT-TERM INVESTMENT 10
SECURITIES & COMMODITIE 145
4.7%
940,000 Merrill Lynch & Company Inc 937,033 2,819,628
2,819,628 ********************
18
Government Mortgage Securit 270 BONDS 20
78.0%AGENCY 45
70.7%
796,973 Federal Home Loan Mortgage Corp 888,625
September 1, 2Pool #884018 9.500% 19
Government Mortgage Securit 270 BONDS 20
AGENCY
45
287,340 Government National Mortgage Associati 282,760
July 15, 2023 Pool #343630 7.000% 19
Government Mortgage Securit 270 BONDS 20
AGENCY
45
348,869 Government National Mortgage Associati 350,613
July 15, 2023 Pool #360618 7.500% 19
Government Mortgage Securit 270 BONDS 20
AGENCY
45
248,906 Government National Mortgage Associati 244,939
July 15, 2023 Pool #344968 7.000% 19
Government Mortgage Securit 270 BONDS 20
AGENCY
45
91,863 Government National Mortgage Associati 92,322
January 15, 20Pool #374270 7.500% 19
Government Mortgage Securit 270 BONDS 20
AGENCY
45
119,234 Government National Mortgage Associati 119,830
January 15, 20Pool #378750 7.500% 19
Government Mortgage Securit 270 BONDS 20
AGENCY
45
575,701 Government National Mortgage Associati 578,579
June 15, 2024 Pool #376533 7.500% 19
Government Mortgage Securit 270 BONDS 20
AGENCY
45
114,786 Government National Mortgage Associati 115,360
January 15, 20Pool #372858 7.500% 19
Government Mortgage Securit 270 BONDS 20
AGENCY
45
4,571,609 Government National Mortgage Associati*********
January 15, 20Pool #371006 7.000% 19
Government Mortgage Securit 270 BONDS 20
AGENCY
45
76,184 Government National Mortgage Associati 76,564
June 15, 2023 Pool #360300 7.500% 19
Government Mortgage Securit 270 BONDS 20
AGENCY 45
556,101 Government National Mortgage Associati 558,881
June 15, 2024 Pool #379462 7.500% 19
Government Mortgage Securit 270 BONDS 20
AGENCY 45
331,800 Government National Mortgage Associati 326,512
January 15, 20Pool #368293 7.000% 19
Government Mortgage Securit 270 BONDS 20
AGENCY 45
3,480,722 Federal Home Loan Mortgage Corp *********
November 1, 20Pool #G00256 8.000% 19
Government Mortgage Securit 270 BONDS 20
AGENCY 45
389,064 Government National Mortgage Associati 391,009
May 15, 2023 Pool #326977 7.500% 19
Government Mortgage Securit 270 BONDS 20
AGENCY 45
328,743 Government National Mortgage Associati 330,387
May 15, 2023 Pool #197968 7.500% 19
Government Mortgage Securit 270 BONDS 20
AGENCY 45
4,879,533 Government National Mortgage Associati*********
March 15, 2022Pool# 315149 8.500% 19
Government Mortgage Securit 270 BONDS 20
AGENCY 45
140,186 Government National Mortgage Associati 137,951
March 15, 2024Pool #379840 7.000% 19
Government Mortgage Securit 270 BONDS 20
AGENCY 45
59,424 Government National Mortgage Associati 59,721
June 15, 2024 Pool #385740 7.500% 19
Government Mortgage Securit 270 BONDS 20
AGENCY 45
1,967,462 Government National Mortgage Associati*********
June 15, 2025 Pool #365382 8.000% 19
Government Mortgage Securit 270 BONDS 20
AGENCY 45
551,601 Government National Mortgage Associati 554,359
June 15, 2024 Pool #385761 7.500% 19
Government Mortgage Securit 270 BONDS 20
AGENCY 45
379,766 Government National Mortgage Associati 381,665
January 15, 20Pool #369426 7.500% 19
Government Mortgage Securit 270 BONDS 20
AGENCY 45
537,435 Government National Mortgage Associati 540,122
January 15, 20Pool #362176 7.500% 19
Government Mortgage Securit 270 BONDS 20
AGENCY 45
345,462 Government National Mortgage Associati 347,189
January 15, 20Pool #362184 7.500% 19
Government Mortgage Securit 270 BONDS 20
AGENCY 45
95,162 Government National Mortgage Associati 95,638
May 15, 2023 Pool #338887 7.500% 19
Government Mortgage Securit 270 BONDS 20
AGENCY 45
87,470 Government National Mortgage Associati 86,076
April 15, 2024Pool #370412 7.000% 19
Government Mortgage Securit 270 BONDS 20
AGENCY 45
414,444 Government National Mortgage Associati 407,837
April 15, 2024Pool #377983 7.000% 19
Government Mortgage Securit 270 BONDS 20
AGENCY 45
448,335 Government National Mortgage Associati 441,188
April 15, 2024Pool #371136 7.000% 19
Government Mortgage Securit 270 BONDS 20
AGENCY 45
7,845,859 Government National Mortgage Associati*********
April 15, 2023Pool #340729 7.500% 19
Government Mortgage Securit 270 BONDS 20
AGENCY 45
590,343 Government National Mortgage Associati 593,295
April 15, 2023Pool #348622 7.500% 19
Government Mortgage Securit 270 BONDS 20
AGENCY 45
393,720 Government National Mortgage Associati 387,444
April 15, 2024Pool #395145 7.000% 19
Government Mortgage Securit 270 BONDS 20
AGENCY 45
471,289 Government National Mortgage Associati 482,506
November 20, 2Pool #001477 8.000% 19
Government Mortgage Securit 270 BONDS 20
AGENCY 45
2,000,000 Tennessee Valley Authority *********
June 15, 2005 Notes 6.375% 19
Government Mortgage Securit 270 BONDS 20
AGENCY 45
54,397 Government National Mortgage Associati 53,530
April 15, 2024Pool #382973 7.000% 19
Government Mortgage Securit 270 BONDS 20
AGENCY 45
81,132 Government National Mortgage Associati 81,537
August 15, 202Pool #351163 7.500% 19
Government Mortgage Securit 270 BONDS 20
AGENCY 45
68,209 Government National Mortgage Associati 68,550
February 15, 2Pool #352835 7.500% 19
Government Mortgage Securit 270 BONDS 20
AGENCY 45
344,459 Government National Mortgage Associati 346,182
February 15, 2Pool #339079 7.500% 19
Government Mortgage Securit 270 BONDS 20
AGENCY 45
370,065 Government National Mortgage Associati 364,167
February 15, 2Pool #346023 7.000% 19
Government Mortgage Securit 270 BONDS 20
AGENCY 45
109,058 Government National Mortgage Associati 109,603
February 15, 2Pool #335265 7.500% 19
Government Mortgage Securit 270 BONDS 20
AGENCY 45
345,926 Government National Mortgage Associati 347,656
August 15, 202Pool #358452 7.500% 19
Government Mortgage Securit 270 BONDS 20
AGENCY 45
450,571 Government National Mortgage Associati 443,389
December 15, 2Pool #345116 7.000% 19
Government Mortgage Securit 270 BONDS 20
AGENCY 45
530,302 Government National Mortgage Associati 532,953
August 15, 202Pool #355753 7.500% 19
Government Mortgage Securit 270 BONDS 20
AGENCY 45
781,994 Government National Mortgage Associati 769,529
August 15, 202Pool #358062 7.000% 19
Government Mortgage Securit 270 BONDS 20
AGENCY 45
511,163 Government National Mortgage Associati 513,718
August 15, 202Pool #357837 7.500% 19
Government Mortgage Securit 270 BONDS 20
AGENCY 45
363,790 Government National Mortgage Associati 365,609
May 15, 2023 Pool #338752 7.500% 19
Government Mortgage Securit 270 BONDS 20
AGENCY 45
488,625 Government National Mortgage Associati 491,068
March 15, 2025Pool #404064 7.500% 19
Government Mortgage Securit 270 BONDS 20
AGENCY 45
347,588 Government National Mortgage Associati 349,326
May 15, 2023 Pool #357659 7.500% 19
Government Mortgage Securit 270 BONDS 20
AGENCY 45
816,123 Federal National Mortgage Association 818,416
September 1, 2Pool #050796 7.500% 19
Government Mortgage Securit 270 BONDS 20
AGENCY 45
69,052 Federal National Mortgage Association 69,246
September 1, 2Pool #294674 7.500% 19
Government Mortgage Securit 270 BONDS 20
AGENCY 45
84,040 Federal National Mortgage Association 84,276
September 1, 2Pool #287606 7.500% 19
Government Mortgage Securit 270 BONDS 20
AGENCY 45
461,913 Government National Mortgage Associati 464,222
May 15, 2024 Pool #376514 7.500% 19
Government Mortgage Securit 270 BONDS 20
AGENCY 45
93,166 Federal National Mortgage Association 93,428
October 1, 202Pool #303031 7.500% 19
Government Mortgage Securit 270 BONDS 20
AGENCY 45
11,000,000 Federal National Mortgage Association *********
September 1, 2TBA 6.500% 19
Government Mortgage Securit 270 BONDS 20
AGENCY 45
85,599 Federal National Mortgage Association 85,840
October 1, 202Pool #294255 7.500% 19
Government Mortgage Securit 270 BONDS 20
AGENCY 45
6,500,000 Federal National Mortgage Association *********
November 1, 20TBA 7.500% 19
Government Mortgage Securit 270 BONDS 20
AGENCY 45
60,098 Federal National Mortgage Association 60,266
September 1, 2Pool #295529 7.500% 19
Government Mortgage Securit 270 BONDS 20
AGENCY 45
2,019,377 Federal National Mortgage Association *********
November 1, 20Relo Pool#288769 7.500% 19
Government Mortgage Securit 270 BONDS 20
AGENCY 45
858,596 Federal National Mortgage Association 861,009
May 1, 2024 Pool #281429 7.500% 19
Government Mortgage Securit 270 BONDS 20
AGENCY 45
1,752,334 Federal Home Loan Mortgage Corp *********
June 1, 2020 Pool #884002 9.500% 19
Government Mortgage Securit 270 BONDS 20
AGENCY 45
796,075 Federal Home Loan Mortgage Corp 887,624
November 1, 20Pool #N70005 9.500% 19
Government Mortgage Securit 270 BONDS 20
AGENCY 45
910,727 Federal Home Loan Mortgage Corp 940,781
November 1, 20TPM Pool #730326 8.500% 19
Government Mortgage Securit 270 BONDS 20
AGENCY 45
2,918,998 Federal Home Loan Mortgage Corp *********
January 1, 200Pool #G10006 10.000% 19
Government Mortgage Securit 270 BONDS 20
AGENCY 45
3,519,501 Federal Home Loan Mortgage Corp *********
June 1, 2008 Pool #E00219 6.500% 19
Government Mortgage Securit 270 BONDS 20
AGENCY 45
1,164,084 Federal Home Loan Mortgage Corp *********
December 1, 20Pool #E00177 6.500% 19
Government Mortgage Securit 270 BONDS 20
AGENCY 45
2,174,250 Federal Home Loan Mortgage Corp *********
February 1, 20Pool #G10289 8.500% 19
Government Mortgage Securit 270 BONDS 20
AGENCY 45
1,964,448 Federal Home Loan Mortgage Corp *********
December 1, 20Pool #C90085 9.000% 19
Government Mortgage Securit 270 BONDS 20
AGENCY 45
860,550 Federal National Mortgage Association 862,968
November 1, 20Pool #298452 7.500% 19
Government Mortgage Securit 270 BONDS 20
AGENCY 45
58,973 Federal National Mortgage Association 59,139
October 1, 202Pool #297124 7.500% 19
Government Mortgage Securit 270 BONDS 20
AGENCY 45
305,784 Federal National Mortgage Association 341,041
March 1, 2020 Pool #091122 9.500% 19
Government Mortgage Securit 270 BONDS 20
AGENCY 45
5,000,000 Federal National Mortgage Association *********
March 1, 2009 TBA 7.000% 19
Government Mortgage Securit 270 BONDS 20
AGENCY 45
72,781 Federal National Mortgage Association 72,985
June 1, 2024 Pool #286640 7.500% 19
Government Mortgage Securit 270 BONDS 20
AGENCY 45
8,000,000 Federal National Mortgage Association *********
May 1, 2024 TBA 7.000% 19
Government Mortgage Securit 270 BONDS 20
AGENCY 45
358,259 Government National Mortgage Associati 352,548
September 15, Pool #361826 7.000% 19
Government Mortgage Securit 270 BONDS 20
AGENCY 45
147,513 Government National Mortgage Associati 145,162
November 15, 2Pool #332076 7.000% 19
Government Mortgage Securit 270 BONDS 20
AGENCY 45
424,567 Government National Mortgage Associati 417,799
November 15, 2Pool #334996 7.000% 19
Government Mortgage Securit 270 BONDS 20
AGENCY 45
41,119 Federal National Mortgage Association 41,235
August 1, 2024Pool #291511 7.500% 19
Government Mortgage Securit 270 BONDS 20
AGENCY 45
331,902 Government National Mortgage Associati 333,562
May 15, 2024 Pool #397435 7.500% 19
Government Mortgage Securit 270 BONDS 20
AGENCY 45
468,003 Government National Mortgage Associati 470,343
May 15, 2024 Pool #388198 7.500% 19
Government Mortgage Securit 270 BONDS 20
AGENCY 45
60,980 Federal National Mortgage Association 61,152
August 1, 2024Pool #289190 7.500% 19
Government Mortgage Securit 270 BONDS 20
AGENCY 45
103,058 Government National Mortgage Associati 103,960
October 15, 20Pool #355360 7.500% 19
Government Mortgage Securit 270 BONDS 20
AGENCY 45
1,377,901 Federal National Mortgage Association *********
December 1, 20Pool #291650 6.500% 19
Government Mortgage Securit 270 BONDS 20
AGENCY 45
832,309 Federal National Mortgage Association 834,648
June 1, 2024 Pool #250060 7.500% 19
Government Mortgage Securit 270 BONDS 20
AGENCY 45
1,681,529 Federal National Mortgage Association *********
June 1, 2024 Pool #286579 7.500% 19
Government Mortgage Securit 270 BONDS 20
AGENCY
45
85,500 Federal National Mortgage Association 85,740
June 1, 2024 Pool #286136 7.500% 19
Government Mortgage Securit 270 BONDS 20
AGENCY
45
1,010,677 Federal National Mortgage Association *********
December 1, 20Relo Pool #302587 8.000% 19
Government Mortgage Securit 270 BONDS 20
AGENCY
45
85,524 Federal National Mortgage Association 85,764
December 1, 20Pool #296964 7.500% 19
Government Mortgage Securit 270 BONDS 20
AGENCY
45
852,881 Federal National Mortgage Association 855,278
December 1, 20Pool #293638 7.500% 19
Government Mortgage Securit 270 BONDS 20
AGENCY
45
486,905 Federal National Mortgage Association 488,273
December 1, 20Pool #285019 7.500% 19
Government Mortgage Securit 270 BONDS 20
AGENCY
45
45,327 Federal National Mortgage Association 45,455
December 1, 20Pool #278839 7.500% 19
Government Mortgage Securit 270 BONDS 20
CREDIT INSTITUTIONS 125
0.7%
1,000,000 Student Loan Marketing Association *********
December 13, 1Medium Term Notes 8.520% 19
Government Mortgage Securit 270 BONDS 20
U.S. GOVERNMENTS
5 6.7%
2,000,000 United States of America *********
April 30, 2000Treasury Notes 6.750% 19
Government Mortgage Securit 270 BONDS 20
U.S. GOVERNMENTS
5
6,000,000 United States of America *********
May 15, 2005 Treasury Notes 6.500% 19
Government Mortgage Securit 270 BONDS 20
U.S. GOVERNMENTS
5
1,100,000 United States of America
*****************************
February 29, 2Treasury Notes 7.125% 19
Government Mortgage Securit 270 SHORT-TERM INVESTMENT 10
22.0%COMMUNICATIONS 190 4.0%
5,600,000 AT&T Corp *********
19
Government Mortgage Securit 270 SHORT-TERM INVESTMENT 10
CREDIT INSTITUTIONS 125
6.4%
3,000,000 American Express Credit Corp *********
19
Government Mortgage Securit 270 SHORT-TERM INVESTMENT 10
CREDIT INSTITUTIONS 125
1,000,000 Chevron Oil Finance Co 997,369
19
Government Mortgage Securit 270 SHORT-TERM INVESTMENT 10
CREDIT INSTITUTIONS 125
5,000,000 Ford Motor Credit Co *********
19
Government Mortgage Securit 270 SHORT-TERM INVESTMENT 10
ELECTRONICS - HIGH TECH 205
2.5%
3,500,000 General Electric Co *********
19
Government Mortgage Securit 270 SHORT-TERM INVESTMENT 10
FOREIGN BANKS 130
1.7%
2,439,000 Canadian Imperial Bank of Commerce *********
19
Government Mortgage Securit 270 SHORT-TERM INVESTMENT 10
SECURITIES & COMMODITIE 145
7.4%
5,000,000 Merrill Lynch & Company Inc *********
19
Government Mortgage Securit 270 SHORT-TERM INVESTMENT 10
SECURITIES & COMMODITIE 145
5,400,000 Prudential Funding Corp
***************************** ********************
19
Value Index Portfolio 415 COMMON STOCK 50
96.3%AGRICULTURE 115 0.1%
900 Dole Food Company Inc 26,213
20
Value Index Portfolio 415 COMMON STOCK 50
AIR 160
0.6%
1,000 Delta Air Lines Inc 73,750
20
Value Index Portfolio 415 COMMON STOCK 50
AIR 160
1,600 AMR Corp 119,400
*
20
Value Index Portfolio 415 COMMON STOCK 50
AIR 160
200 UAL Corp 28,050
*
20
Value Index Portfolio 415 COMMON STOCK 50
AIR 160
1,300 Northwest Airlines Corp 45,988
*
20
Value Index Portfolio 415 COMMON STOCK 50
COMMUNICATIONS 190
0.7%
8,700 Pacific Telesis Group 232,725
20
Value Index Portfolio 415 COMMON STOCK 50
COMMUNICATIONS 190
300 MFS Comunications Company Inc 9,675
*
20
Value Index Portfolio 415 COMMON STOCK 50
COMMUNICATIONS 190
20 United States Cellular Corp 605
*
20
Value Index Portfolio 415 COMMON STOCK 50
COMMUNICATIONS 190
1,000 Comsat Corp 19,625
20
Value Index Portfolio 415 COMMON STOCK 50
COMMUNICATIONS 190
412 Chris-Craft Industries Inc 14,420
*
20
Value Index Portfolio 415 COMMON STOCK 50
COMMUNICATIONS 190
300 Associated Group Inc 5,175
*
20
Value Index Portfolio 415 COMMON STOCK 50
COMMUNICATIONS 190
1,000 Century Communications Corp 9,375
*
20
Value Index Portfolio 415 COMMON STOCK 50
COMMUNICATIONS 190
100 BHC Communications Inc 8,038
20
Value Index Portfolio 415 COMMON STOCK 50
CONSTRUCTION 203
0.0%
600 Centex Corp 16,950
20
Value Index Portfolio 415 COMMON STOCK 50
CONSUMER SERVICES 211
2.0%
38 Allergan Ligand Retinoid Therapeutics 0
*
20
Value Index Portfolio 415 COMMON STOCK 50
CONSUMER SERVICES 211
1,300 Allergan Inc 35,263
20
Value Index Portfolio 415 COMMON STOCK 50
CONSUMER SERVICES 211
1,400 Becton Dickinson & Co 81,550
20
Value Index Portfolio 415 COMMON STOCK 50
CONSUMER SERVICES 211
4,152 Tenet Healthcare Corp 59,685
*
20
Value Index Portfolio 415 COMMON STOCK 50
CONSUMER SERVICES 211
10,400 Bristol-Myers Squibb Co 708,500
20
Value Index Portfolio 415 COMMON STOCK 50
CREDIT INSTITUTIONS 125
15.0%
1,700 Southtrust Corp 39,313
20
Value Index Portfolio 415 COMMON STOCK 50
CREDIT INSTITUTIONS 125
1,200 Signet Banking Corp 26,250
20
Value Index Portfolio 415 COMMON STOCK 50
CREDIT INSTITUTIONS 125
800 Central Fidelity Banks Inc 24,400
20
Value Index Portfolio 415 COMMON STOCK 50
CREDIT INSTITUTIONS 125
600 Standard Federal Bancorporation Inc 20,175
20
Value Index Portfolio 415 COMMON STOCK 50
CREDIT INSTITUTIONS 125
1,400 Capital One Financial Corp 27,300
20
Value Index Portfolio 415 COMMON STOCK 50
CREDIT INSTITUTIONS 125
2,000 U S Bancorp 48,124
20
Value Index Portfolio 415 COMMON STOCK 50
CREDIT INSTITUTIONS 125
600 Dauphin Deposit Corp 14,550
20
Value Index Portfolio 415 COMMON STOCK 50
CREDIT INSTITUTIONS 125
2,400 Suntrust Banks Inc 139,800
20
Value Index Portfolio 415 COMMON STOCK 50
CREDIT INSTITUTIONS 125
600 Star Banc Corp 27,600
20
Value Index Portfolio 415 COMMON STOCK 50
CREDIT INSTITUTIONS 125
2,946 Mellon Bank Corp 122,627
20
Value Index Portfolio 415 COMMON STOCK 50
CREDIT INSTITUTIONS 125
5,000 Chemical Banking Corp 236,250
20
Value Index Portfolio 415 COMMON STOCK 50
CREDIT INSTITUTIONS 125
3,700 Chase Manhattan Corp 173,900
20
Value Index Portfolio 415 COMMON STOCK 50
CREDIT INSTITUTIONS 125
3,900 Morgan (J P) & Company Inc 273,488
20
Value Index Portfolio 415 COMMON STOCK 50
CREDIT INSTITUTIONS 125
8,200 Citicorp 474,575
20
Value Index Portfolio 415 COMMON STOCK 50
CREDIT INSTITUTIONS 125
3,000 Corestates Financial Corp 104,625
20
Value Index Portfolio 415 COMMON STOCK 50
CREDIT INSTITUTIONS 125
2,400 Comerica Inc 77,100
20
Value Index Portfolio 415 COMMON STOCK 50
CREDIT INSTITUTIONS 125
720 Commerce Bancshares Inc 22,680
20
Value Index Portfolio 415 COMMON STOCK 50
CREDIT INSTITUTIONS 125
600 Compass Bancshares Inc 17,325
20
Value Index Portfolio 415 COMMON STOCK 50
CREDIT INSTITUTIONS 125
3,000 National City Corp 88,125
20
Value Index Portfolio 415 COMMON STOCK 50
CREDIT INSTITUTIONS 125
900 Regions Financial Corp 33,413
20
Value Index Portfolio 415 COMMON STOCK 50
CREDIT INSTITUTIONS 125
5,700 NationsBank Corp 305,663
20
Value Index Portfolio 415 COMMON STOCK 50
CREDIT INSTITUTIONS 125
415 Old National Bancorp 14,266
20
Value Index Portfolio 415 COMMON STOCK 50
CREDIT INSTITUTIONS 125
600 Fourth Financial Corp 20,100
20
Value Index Portfolio 415 COMMON STOCK 50
CREDIT INSTITUTIONS 125
4,700 PNC Bank Corp 123,963
20
Value Index Portfolio 415 COMMON STOCK 50
CREDIT INSTITUTIONS 125
1,100 Golden West Financial Corp 51,838
20
Value Index Portfolio 415 COMMON STOCK 50
CREDIT INSTITUTIONS 125
2,800 Great Western Financial Corp 57,750
20
Value Index Portfolio 415 COMMON STOCK 50
CREDIT INSTITUTIONS 125
2,200 Hibernia Corp 19,525
20
Value Index Portfolio 415 COMMON STOCK 50
CREDIT INSTITUTIONS 125
900 Old Kent Financial Corp 30,600
20
Value Index Portfolio 415 COMMON STOCK 50
CREDIT INSTITUTIONS 125
1,300 Firstar Corp 43,713
20
Value Index Portfolio 415 COMMON STOCK 50
CREDIT INSTITUTIONS 125
2,000 Household International Inc 99,000
20
Value Index Portfolio 415 COMMON STOCK 50
CREDIT INSTITUTIONS 125
2,725 Huntington Bancshares Inc 56,544
20
Value Index Portfolio 415 COMMON STOCK 50
CREDIT INSTITUTIONS 125
600 Integra Financial Corp 29,175
20
Value Index Portfolio 415 COMMON STOCK 50
CREDIT INSTITUTIONS 125
6,400 Norwest Corp 184,000
20
Value Index Portfolio 415 COMMON STOCK 50
CREDIT INSTITUTIONS 125
1,100 Northern Trust Corp 44,275
20
Value Index Portfolio 415 COMMON STOCK 50
CREDIT INSTITUTIONS 125
2,900 Fleet/Norstar Financial Group Inc 107,663
20
Value Index Portfolio 415 COMMON STOCK 50
CREDIT INSTITUTIONS 125
700 First Virginia Banks Inc 26,250
20
Value Index Portfolio 415 COMMON STOCK 50
CREDIT INSTITUTIONS 125
500 Equitable of Iowa Companies 16,438
20
Value Index Portfolio 415 COMMON STOCK 50
CREDIT INSTITUTIONS 125
143 First Empire State Corp 24,525
20
Value Index Portfolio 415 COMMON STOCK 50
CREDIT INSTITUTIONS 125
3,300 NBD Bancorp Inc 105,600
20
Value Index Portfolio 415 COMMON STOCK 50
CREDIT INSTITUTIONS 125
500 First American Corp 17,938
20
Value Index Portfolio 415 COMMON STOCK 50
CREDIT INSTITUTIONS 125
2,800 First Bank System Inc 114,800
20
Value Index Portfolio 415 COMMON STOCK 50
CREDIT INSTITUTIONS 125
1,700 First Chicago Corp 101,788
20
Value Index Portfolio 415 COMMON STOCK 50
CREDIT INSTITUTIONS 125
500 First Commerce Corp 14,750
20
Value Index Portfolio 415 COMMON STOCK 50
CREDIT INSTITUTIONS 125
1,700 First Fidelity Bancorp 100,300
20
Value Index Portfolio 415 COMMON STOCK 50
CREDIT INSTITUTIONS 125
3,500 First Union Corp 158,375
20
Value Index Portfolio 415 COMMON STOCK 50
CREDIT INSTITUTIONS 125
500 First Hawaiian Inc 13,375
20
Value Index Portfolio 415 COMMON STOCK 50
CREDIT INSTITUTIONS 125
1,600 First Interstate Bancorp 128,400
20
Value Index Portfolio 415 COMMON STOCK 50
CREDIT INSTITUTIONS 125
1,300 First of America Bank Corp 48,263
20
Value Index Portfolio 415 COMMON STOCK 50
CREDIT INSTITUTIONS 125
1,000 First Security Corp 28,000
20
Value Index Portfolio 415 COMMON STOCK 50
CREDIT INSTITUTIONS 125
700 First Tennessee National Corp 32,463
20
Value Index Portfolio 415 COMMON STOCK 50
CREDIT INSTITUTIONS 125
2,500 Shawmut National Corp 79,688
20
Value Index Portfolio 415 COMMON STOCK 50
CREDIT INSTITUTIONS 125
800 Crestar Financial Corp 39,200
20
Value Index Portfolio 415 COMMON STOCK 50
CREDIT INSTITUTIONS 125
1,100 Mercantile Bancorporation Inc 49,363
20
Value Index Portfolio 415 COMMON STOCK 50
CREDIT INSTITUTIONS 125
2,400 Ahmanson (H F) & Co 52,800
20
Value Index Portfolio 415 COMMON STOCK 50
CREDIT INSTITUTIONS 125
800 West One Bancorp 26,700
20
Value Index Portfolio 415 COMMON STOCK 50
CREDIT INSTITUTIONS 125
700 Banponce Corp 24,850
20
Value Index Portfolio 415 COMMON STOCK 50
CREDIT INSTITUTIONS 125
1,600 Bankers Trust New York Corp 99,200
20
Value Index Portfolio 415 COMMON STOCK 50
CREDIT INSTITUTIONS 125
200 Union Bank 8,450
20
Value Index Portfolio 415 COMMON STOCK 50
CREDIT INSTITUTIONS 125
1,900 Marshall & Ilsley Corp 42,988
20
Value Index Portfolio 415 COMMON STOCK 50
CREDIT INSTITUTIONS 125
8,002 Banc One Funding Corp 258,065
20
Value Index Portfolio 415 COMMON STOCK 50
CREDIT INSTITUTIONS 125
700 Wilmington Trust Co 19,775
20
Value Index Portfolio 415 COMMON STOCK 50
CREDIT INSTITUTIONS 125
200 Michigan National Corp 21,275
20
Value Index Portfolio 415 COMMON STOCK 50
CREDIT INSTITUTIONS 125
7,699 BankAmerica Corp 405,160
20
Value Index Portfolio 415 COMMON STOCK 50
CREDIT INSTITUTIONS 125
1,200 Bank South Corp 26,700
20
Value Index Portfolio 415 COMMON STOCK 50
CREDIT INSTITUTIONS 125
3,900 Bank of New York Company Inc 157,463
20
Value Index Portfolio 415 COMMON STOCK 50
CREDIT INSTITUTIONS 125
2,200 Bank of Boston Corp 82,500
20
Value Index Portfolio 415 COMMON STOCK 50
CREDIT INSTITUTIONS 125
2,000 Barnett Banks Inc 102,500
20
Value Index Portfolio 415 COMMON STOCK 50
CREDIT INSTITUTIONS 125
10,200 American Express Co 358,275
20
Value Index Portfolio 415 COMMON STOCK 50
CREDIT INSTITUTIONS 125
400 Baybanks Inc 31,700
20
Value Index Portfolio 415 COMMON STOCK 50
CREDIT INSTITUTIONS 125
850 Bancorp Hawaii Inc 25,500
20
Value Index Portfolio 415 COMMON STOCK 50
CREDIT INSTITUTIONS 125
1,100 Beneficial Corp 48,400
20
Value Index Portfolio 415 COMMON STOCK 50
CREDIT INSTITUTIONS 125
1,200 AmSouth Bancorp 39,150
20
Value Index Portfolio 415 COMMON STOCK 50
CREDIT INSTITUTIONS 125
3,500 Wachovia Corp 125,125
20
Value Index Portfolio 415 COMMON STOCK 50
CREDIT INSTITUTIONS 125
100 AT&T Capital Corp 2,675
20
Value Index Portfolio 415 COMMON STOCK 50
CREDIT INSTITUTIONS 125
900 Mercantile Bankshares Corp 20,250
20
Value Index Portfolio 415 COMMON STOCK 50
CREDIT INSTITUTIONS 125
810 Washington Federal Inc 17,820
20
Value Index Portfolio 415 COMMON STOCK 50
CREDIT INSTITUTIONS 125
1,100 UJB Financial Corp 33,413
20
Value Index Portfolio 415 COMMON STOCK 50
CREDIT INSTITUTIONS 125
2,600 Boatmen's Bancshares Inc 91,650
20
Value Index Portfolio 415 COMMON STOCK 50
CREDIT INSTITUTIONS 125
1,100 Wells Fargo & Co 198,275
20
Value Index Portfolio 415 COMMON STOCK 50
CREDIT INSTITUTIONS 125
1,200 Meridian Bancorp Inc 41,250
20
Value Index Portfolio 415 COMMON STOCK 50
ELECTRIC
75 10.3%
2,400 Potomac Electric Power Co 51,600
20
Value Index Portfolio 415 COMMON STOCK 50
ELECTRIC
75
1,300 New England Electric System 44,850
20
Value Index Portfolio 415 COMMON STOCK 50
ELECTRIC
75
2,200 Wisconsin Energy Corp 61,600
20
Value Index Portfolio 415 COMMON STOCK 50
ELECTRIC 75
2,000 Scana Corp 44,750
20
Value Index Portfolio 415 COMMON STOCK 50
ELECTRIC 75
9,200 SCECorp 157,550
20
Value Index Portfolio 415 COMMON STOCK 50
ELECTRIC 75
3,600 Dominion Resources Inc 131,400
20
Value Index Portfolio 415 COMMON STOCK 50
ELECTRIC 75
3,800 FPL Group Inc 146,775
20
Value Index Portfolio 415 COMMON STOCK 50
ELECTRIC 75
3,200 PP&L Resources Inc 62,000
20
Value Index Portfolio 415 COMMON STOCK 50
ELECTRIC 75
2,200 DPL Inc 48,675
20
Value Index Portfolio 415 COMMON STOCK 50
ELECTRIC 75
4,200 Duke Power Co 174,300
20
Value Index Portfolio 415 COMMON STOCK 50
ELECTRIC 75
2,200 San Diego Gas & Electric Co 45,650
20
Value Index Portfolio 415 COMMON STOCK 50
ELECTRIC 75
1,600 DQE Inc 37,600
20
Value Index Portfolio 415 COMMON STOCK 50
ELECTRIC 75
3,100 Ohio Edison Co 70,138
20
Value Index Portfolio 415 COMMON STOCK 50
ELECTRIC 75
2,000 Florida Progress Corp 62,500
20
Value Index Portfolio 415 COMMON STOCK 50
ELECTRIC 75
1,600 Illinova Corp 40,600
20
Value Index Portfolio 415 COMMON STOCK 50
ELECTRIC 75
1,100 Washington Water Power Co 17,600
20
Value Index Portfolio 415 COMMON STOCK 50
ELECTRIC 75
800 Idaho Power Co 20,200
20
Value Index Portfolio 415 COMMON STOCK 50
ELECTRIC 75
5,000 Public Service Enterprise Group Inc 138,750
20
Value Index Portfolio 415 COMMON STOCK 50
ELECTRIC 75
600 IES Industries Inc 13,350
20
Value Index Portfolio 415 COMMON STOCK 50
ELECTRIC 75
1,300 Puget Sound Power & Light Co 29,738
20
Value Index Portfolio 415 COMMON STOCK 50
ELECTRIC 75
900 Utilicorp United Inc 25,313
20
Value Index Portfolio 415 COMMON STOCK 50
ELECTRIC 75
900 Nevada Power Co 18,563
20
Value Index Portfolio 415 COMMON STOCK 50
ELECTRIC 75
3,800 American Electric Power Company Inc 133,475
20
Value Index Portfolio 415 COMMON STOCK 50
ELECTRIC 75
4,679 Entergy Corp 112,881
20
Value Index Portfolio 415 COMMON STOCK 50
ELECTRIC 75
700 LG&E Energy Corp 27,300
20
Value Index Portfolio 415 COMMON STOCK 50
ELECTRIC 75
1,300 Western Resources Inc 40,138
20
Value Index Portfolio 415 COMMON STOCK 50
ELECTRIC 75
800 Rochester Gas & Electric Corp 17,000
20
Value Index Portfolio 415 COMMON STOCK 50
ELECTRIC 75
1,300 Nipsco Industries Inc 44,200
20
Value Index Portfolio 415 COMMON STOCK 50
ELECTRIC 75
1,300 Public Service Company of Colorado 42,250
20
Value Index Portfolio 415 COMMON STOCK 50
ELECTRIC 75
600 WPL Holdings Inc 17,175
20
Value Index Portfolio 415 COMMON STOCK 50
ELECTRIC 75
1,000 Portland General Corp 22,125
20
Value Index Portfolio 415 COMMON STOCK 50
ELECTRIC 75
900 Boston Edison Co 23,513
20
Value Index Portfolio 415 COMMON STOCK 50
ELECTRIC 75
3,000 Detroit Edison Co 88,500
20
Value Index Portfolio 415 COMMON STOCK 50
ELECTRIC 75
4,400 Unicom Corp 117,150
20
Value Index Portfolio 415 COMMON STOCK 50
ELECTRIC 75
3,000 Niagara Mohawk Power Corp 44,250
20
Value Index Portfolio 415 COMMON STOCK 50
ELECTRIC 75
1,800 CMS Energy Corp 44,325
20
Value Index Portfolio 415 COMMON STOCK 50
ELECTRIC 75
700 Cipsco Inc 20,913
20
Value Index Portfolio 415 COMMON STOCK 50
ELECTRIC 75
1,100 Montana Power Co 25,300
20
Value Index Portfolio 415 COMMON STOCK 50
ELECTRIC 75
4,700 Texas Utilities Co 161,563
20
Value Index Portfolio 415 COMMON STOCK 50
ELECTRIC 75
5,900 PacifiCorp 110,625
20
Value Index Portfolio 415 COMMON STOCK 50
ELECTRIC 75
600 Minnesota Power & Light Co 16,350
20
Value Index Portfolio 415 COMMON STOCK 50
ELECTRIC 75
2,600 Northeast Utilities 58,500
20
Value Index Portfolio 415 COMMON STOCK 50
ELECTRIC 75
1,200 Midwest Resources Inc 17,850
20
Value Index Portfolio 415 COMMON STOCK 50
ELECTRIC 75
36 Allegheny Generating Co 5,733
*
20
Value Index Portfolio 415 COMMON STOCK 50
ELECTRIC 75
3,900 Central & South West Corp 102,375
20
Value Index Portfolio 415 COMMON STOCK 50
ELECTRIC 75
700 UGI Corp 14,788
20
Value Index Portfolio 415 COMMON STOCK 50
ELECTRIC 75
3,000 Centerior Energy Corp 28,875
20
Value Index Portfolio 415 COMMON STOCK 50
ELECTRIC 75
8,900 Pacific Gas & Electric Co 258,100
20
Value Index Portfolio 415 COMMON STOCK 50
ELECTRIC 75
3,200 Carolina Power & Light Co 96,800
20
Value Index Portfolio 415 COMMON STOCK 50
ELECTRIC 75
2,500 Allegheny Power System Inc 58,750
20
Value Index Portfolio 415 COMMON STOCK 50
ELECTRIC 75
600 Hawaiian Electric Industries Inc 21,825
20
Value Index Portfolio 415 COMMON STOCK 50
ELECTRIC
75
2,400 Teco Energy Inc 52,500
20
Value Index Portfolio 415 COMMON STOCK 50
ELECTRIC
75
1,400 Northern States Power Co 64,575
20
Value Index Portfolio 415 COMMON STOCK 50
ELECTRIC
75
2,400 Long Island Lighting Co 37,200
20
Value Index Portfolio 415 COMMON STOCK 50
ELECTRIC
75
1,500 New York State Electric & Gas Corp 35,063
20
Value Index Portfolio 415 COMMON STOCK 50
ELECTRIC
75
3,000 Baltimore Gas & Electric Co 75,000
20
Value Index Portfolio 415 COMMON STOCK 50
ELECTRIC
75
1,100 Atlantic Energy Inc 20,763
20
Value Index Portfolio 415 COMMON STOCK 50
ELECTRIC
75
1,200 Delmarva Power & Light Co 24,600
20
Value Index Portfolio 415 COMMON STOCK 50
ELECTRIC
75
13,700 Southern Co 306,538
20
Value Index Portfolio 415 COMMON STOCK 50
ELECTRIC
75
800 KU Energy Corp 22,300
20
Value Index Portfolio 415 COMMON STOCK 50
ELECTRIC
75
800 Southwestern Public Service Co 23,600
20
Value Index Portfolio 415 COMMON STOCK 50
ELECTRIC
75
800 Ipalco Enterprises Inc 25,500
20
Value Index Portfolio 415 COMMON STOCK 50
ELECTRIC
75
2,100 Union Electric Co 78,225
20
Value Index Portfolio 415 COMMON STOCK 50
ELECTRIC
75
800 Oklahoma Gas & Electric Co 28,100
20
Value Index Portfolio 415 COMMON STOCK 50
ELECTRIC
75
4,600 Peco Energy Co 127,075
20
Value Index Portfolio 415 COMMON STOCK 50
ELECTRIC
75
2,400 General Public Utilities Corp 71,400
20
Value Index Portfolio 415 COMMON STOCK 50
ELECTRIC
75
1,300 Kansas City Power & Light Co 29,738
20
Value Index Portfolio 415 COMMON STOCK 50
ELECTRIC
75
4,800 Consolidated Edison Company of New Yor 141,600
20
Value Index Portfolio 415 COMMON STOCK 50
ELECTRIC
75
2,700 Houston Industries Inc 113,738
20
Value Index Portfolio 415 COMMON STOCK 50
ELECTRIC
75
500 WPS Resources Corp 14,625
20
Value Index Portfolio 415 COMMON STOCK 50
ELECTRIC
75
1,800 Pinnacle West Capital Corp 44,100
20
Value Index Portfolio 415 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
8.8% 700 Polaroid Corp
28,525
20
Value Index Portfolio 415 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
800 Harris Corp 41,300
20
Value Index Portfolio 415 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
800 General Signal Corp 31,800
20
Value Index Portfolio 415 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
7,400 Westinghouse Electric Corp 108,225
20
Value Index Portfolio 415 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
1,300 Amdahl Corp 14,463
*
20
Value Index Portfolio 415 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
3,504 Lockheed Martin Corp 221,190
20
Value Index Portfolio 415 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
2,500 Raytheon Co 194,063
20
Value Index Portfolio 415 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
600 Tektronix Inc 29,550
20
Value Index Portfolio 415 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
2,200 Xerox Corp 257,950
20
Value Index Portfolio 415 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
2,400 Tandem Computers Inc 38,700
*
20
Value Index Portfolio 415 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
1,700 Loral Corp 87,975
20
Value Index Portfolio 415 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
800 Coltec Industries Inc 13,800
*
20
Value Index Portfolio 415 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
400 Thomas & Betts Corp 27,350
20
Value Index Portfolio 415 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
1,000 Teledyne Inc 24,500
20
Value Index Portfolio 415 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
2,500 Apple Computer Inc 116,093
20
Value Index Portfolio 415 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
5,800 Baxter International Inc 210,975
20
Value Index Portfolio 415 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
800 Johnson Controls Inc 45,200
20
Value Index Portfolio 415 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
1,700 Black & Decker Corp 52,488
20
Value Index Portfolio 415 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
1,150 Mark IV Industries Inc 24,725
20
Value Index Portfolio 415 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
1,800 Sun Microsystems Inc 87,300
*
20
Value Index Portfolio 415 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
500 Stratus Computer Inc 15,500
*
20
Value Index Portfolio 415 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
1,100 Storage Technology Corp 27,088
*
20
Value Index Portfolio 415 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
700 Avnet Inc 33,863
20
Value Index Portfolio 415 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
3,500 Unisys Corp 38,063
*
20
Value Index Portfolio 415 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
2,200 Maytag Corp 35,200
20
Value Index Portfolio 415 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
700 Litton Industries Inc 25,813
*
20
Value Index Portfolio 415 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
12,000 International Business Machines Corp *********
20
Value Index Portfolio 415 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
7,000 Eastman Kodak Co 424,375
20
Value Index Portfolio 415 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
1,500 Seagate Technology Inc 58,875
*
20
Value Index Portfolio 415 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
2,600 Honeywell Inc 112,125
20
Value Index Portfolio 415 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
3,000 Digital Equipment Corp 122,250
*
20
Value Index Portfolio 415 COMMON STOCK 50
ELECTRONICS - HIGH TECH 205
2,500 United Technologies Corp 195,313
20
Value Index Portfolio 415 COMMON STOCK 50
ENVIRONMENTAL SERVICES 201
0.0%
1,000 Ogden Corp 21,875
20
Value Index Portfolio 415 COMMON STOCK 50
FOREIGN BANKS 130
0.1%
2,070 Southern National Corp 49,680
20
Value Index Portfolio 415 COMMON STOCK 50
FORESTRY 110
1.6%
1,100 Boise Cascade Corp 44,550
20
Value Index Portfolio 415 COMMON STOCK 50
FORESTRY 110
1,100 Willamette Industries Inc 61,050
20
Value Index Portfolio 415 COMMON STOCK 50
FORESTRY 110
1,900 Georgia-Pacific Corp 164,825
20
Value Index Portfolio 415 COMMON STOCK 50
FORESTRY 110
4,200 Weyerhaeuser Co 197,925
20
Value Index Portfolio 415 COMMON STOCK 50
FORESTRY 110
2,600 International Paper Co 222,950
20
Value Index Portfolio 415 COMMON STOCK 50
GAS
80 1.4%
2,100 Williams Companies Inc 73,238
20
Value Index Portfolio 415 COMMON STOCK 50
GAS
80
2,500 NorAm Energy Corp 16,250
20
Value Index Portfolio 415 COMMON STOCK 50
GAS
80
1,000 Nicor Inc 26,875
20
Value Index Portfolio 415 COMMON STOCK 50
GAS
80
700 Equitable Resources Inc 20,213
20
Value Index Portfolio 415 COMMON STOCK 50
GAS 199
141 TransTexas Gas Corp 2,133
*
20
Value Index Portfolio 415 COMMON STOCK 50
GAS
80
1,000 Columbia Gas System Inc 31,750
*
20
Value Index Portfolio 415 COMMON STOCK 50
GAS
80
1,900 Consolidated Natural Gas Co 71,725
20
Value Index Portfolio 415 COMMON STOCK 50
GAS
80
800 National Fuel Gas Co 22,900
20
Value Index Portfolio 415 COMMON STOCK 50
GAS
80
1,800 Sonat Inc 54,900
20
Value Index Portfolio 415 COMMON STOCK 50
GAS
80
500 Atlanta Gas Light Co 17,375
20
Value Index Portfolio 415 COMMON STOCK 50
GAS
80
700 El Paso Natural Gas Co 19,950
20
Value Index Portfolio 415 COMMON STOCK 50
GAS
80
1,000 Brooklyn Union Gas Co 26,250
20
Value Index Portfolio 415 COMMON STOCK 50
GAS
80
800 Questar Corp 23,000
20
Value Index Portfolio 415 COMMON STOCK 50
GAS
80
900 Washington Gas Light Co 16,988
20
Value Index Portfolio 415 COMMON STOCK 50
GAS
80
1,700 Pacific Enterprises 41,650
20
Value Index Portfolio 415 COMMON STOCK 50
GAS
80
900 Valero Energy Corp 18,225
20
Value Index Portfolio 415 COMMON STOCK 50
GAS
80
3,100 Panhandle Eastern Corp 75,563
20
Value Index Portfolio 415 COMMON STOCK 50
GAS
80
700 Peoples Energy Corp 18,113
20
Value Index Portfolio 415 COMMON STOCK 50
GAS
80
1,400 MCN Corp 27,650
20
Value Index Portfolio 415 COMMON STOCK 50
HIGHWAYS 180
0.2% 500 Roadway Services Inc
23,625
20
Value Index Portfolio 415 COMMON STOCK 50
HIGHWAYS 180
1,500 Ryder System Inc 35,813
20
Value Index Portfolio 415 COMMON STOCK 50
HIGHWAYS 180
800 Consolidated Freightways Inc 17,700
20
Value Index Portfolio 415 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
1.5% 1,100 Midlantic Corp
44,000
20
Value Index Portfolio 415 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
1,100 New Plan Realty Trust 24,613
20
Value Index Portfolio 415 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
300 Kimco Realty Corp 11,400
20
Value Index Portfolio 415 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
4,882 Keycorp 153,173
20
Value Index Portfolio 415 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
400 Nationwide Health Properties Inc 15,600
20
Value Index Portfolio 415 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
1,000 Meditrust Corp 34,125
20
Value Index Portfolio 415 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
300 Equity Residential Properties Trust 8,363
20
Value Index Portfolio 415 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
400 Weingarten Realty Investors 15,100
20
Value Index Portfolio 415 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
1,400 Cincinnati Bell Inc 35,350
20
Value Index Portfolio 415 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
800 Republic New York Corp 44,800
20
Value Index Portfolio 415 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
600 Federal Realty Investment Trust 12,975
20
Value Index Portfolio 415 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
3,216 Cinergy Corp 84,420
20
Value Index Portfolio 415 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
12 Wesco Financial Corp 1,515
20
Value Index Portfolio 415 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
900 Security Capital Pacific Trust 15,638
20
Value Index Portfolio 415 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
1,040 Cincinnati Financial Corp 58,240
20
Value Index Portfolio 415 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
700 Ambac Inc 28,088
20
Value Index Portfolio 415 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
2,100 Paine Webber Group Inc 39,638
20
Value Index Portfolio 415 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
1,100 Green Point Financial Corp 25,988
20
Value Index Portfolio 415 COMMON STOCK 50
HOLDING & INVEST. OFFIC 155
1,200 Health & Retirement Property Trust 18,000
20
Value Index Portfolio 415 COMMON STOCK 50
INDUSTRIAL SERVICES 199
0.3% 1,700 Deluxe Corp
56,313
20
Value Index Portfolio 415 COMMON STOCK 50
INDUSTRIAL SERVICES 199
1,000 National Service Industries Inc 28,875
20
Value Index Portfolio 415 COMMON STOCK 50
INDUSTRIAL SERVICES 199
500 Comdisco Inc 15,188
20
Value Index Portfolio 415 COMMON STOCK 50
INDUSTRIAL SERVICES 199
1,100 E G & G Inc 18,425
20
Value Index Portfolio 415 COMMON STOCK 50
INDUSTRIAL SERVICES 199
500 Wallace Computer Services Inc 19,188
20
Value Index Portfolio 415 COMMON STOCK 50
INDUSTRIAL SERVICES 199
300 Policy Management Systems Corp 13,800
*
20
Value Index Portfolio 415 COMMON STOCK 50
INSURANCE 135
5.4% 2,000 USF&G Corp
32,500
20
Value Index Portfolio 415 COMMON STOCK 50
INSURANCE 135
600 Ohio Casualty Corp 18,900
20
Value Index Portfolio 415 COMMON STOCK 50
INSURANCE 135
500 USLife Corp 20,125
20
Value Index Portfolio 415 COMMON STOCK 50
INSURANCE 135
700 Unitrin Inc 33,250
20
Value Index Portfolio 415 COMMON STOCK 50
INSURANCE 135
300 Mercury General Corp 10,313
20
Value Index Portfolio 415 COMMON STOCK 50
INSURANCE 135
1,500 Unum Corp 70,313
20
Value Index Portfolio 415 COMMON STOCK 50
INSURANCE 135
1,600 St Paul Companies Inc 78,800
20
Value Index Portfolio 415 COMMON STOCK 50
INSURANCE 135
6,560 Travelers Group Inc 287,000
20
Value Index Portfolio 415 COMMON STOCK 50
INSURANCE 135
300 Transatlantic Holdings Inc 19,500
20
Value Index Portfolio 415 COMMON STOCK 50
INSURANCE 135
2,000 Providian Corp 72,500
20
Value Index Portfolio 415 COMMON STOCK 50
INSURANCE 135
100 Paul Revere Corp 1,700
20
Value Index Portfolio 415 COMMON STOCK 50
INSURANCE 135
500 Provident Life & Accident Insurance Co 11,625
20
Value Index Portfolio 415 COMMON STOCK 50
INSURANCE 135
1,300 SAFECO Corp 74,668
20
Value Index Portfolio 415 COMMON STOCK 50
INSURANCE 135
800 Reliastar Financial Corp 30,600
20
Value Index Portfolio 415 COMMON STOCK 50
INSURANCE 135
1,400 Transamerica Corp 81,550
20
Value Index Portfolio 415 COMMON STOCK 50
INSURANCE 135
900 Old Republic International Corp 23,513
20
Value Index Portfolio 415 COMMON STOCK 50
INSURANCE 135
1,400 Torchmark Corp 52,850
20
Value Index Portfolio 415 COMMON STOCK 50
INSURANCE 135
800 20th Century Industries 10,000
*
20
Value Index Portfolio 415 COMMON STOCK 50
INSURANCE 135
300 Leucadia National Corp 15,150
20
Value Index Portfolio 415 COMMON STOCK 50
INSURANCE 135
800 Geico Corp 45,300
20
Value Index Portfolio 415 COMMON STOCK 50
INSURANCE 135
1,900 Lincoln National Corp 83,125
20
Value Index Portfolio 415 COMMON STOCK 50
INSURANCE 135
1,300 Allmerica Property & Casualty Companie 28,763
20
Value Index Portfolio 415 COMMON STOCK 50
INSURANCE 135
200 CNA Financial Corp 17,275
*
20
Value Index Portfolio 415 COMMON STOCK 50
INSURANCE 135
800 Loews Corp 96,800
20
Value Index Portfolio 415 COMMON STOCK 50
INSURANCE 135
4,200 American General Corp 141,750
20
Value Index Portfolio 415 COMMON STOCK 50
INSURANCE 135
500 American Financial Group Inc 13,000
20
Value Index Portfolio 415 COMMON STOCK 50
INSURANCE 135
1,800 Allstate Corp 53,325
20
Value Index Portfolio 415 COMMON STOCK 50
INSURANCE 135
200 American National Insurance Co 12,200
20
Value Index Portfolio 415 COMMON STOCK 50
INSURANCE 135
1,500 Cigna Corp 116,438
20
Value Index Portfolio 415 COMMON STOCK 50
INSURANCE 135
600 Horace Mann Educators Corp 13,800
20
Value Index Portfolio 415 COMMON STOCK 50
INSURANCE 135
1,800 Chubb Capital Corp 144,225
20
Value Index Portfolio 415 COMMON STOCK 50
INSURANCE 135
700 Kemper Corp 32,638
20
Value Index Portfolio 415 COMMON STOCK 50
INSURANCE 135
1,000 Jefferson-Pilot Corp 54,750
20
Value Index Portfolio 415 COMMON STOCK 50
INSURANCE 135
2,200 ITT Corp 258,500
20
Value Index Portfolio 415 COMMON STOCK 50
INSURANCE 135
1,500 Equitable Companies Inc 31,313
20
Value Index Portfolio 415 COMMON STOCK 50
INSURANCE 135
1,900 AON Corp 70,775
20
Value Index Portfolio 415 COMMON STOCK 50
INSURANCE 135
1,000 First Colony Corp 24,000
20
Value Index Portfolio 415 COMMON STOCK 50
INSURANCE 135
400 Bankers Life Holding Corp 7,600
20
Value Index Portfolio 415 COMMON STOCK 50
INSURANCE 135
800 MBIA Inc 53,200
20
Value Index Portfolio 415 COMMON STOCK 50
INSURANCE 135
2,300 Aetna Life and Casualty Co 144,613
20
Value Index Portfolio 415 COMMON STOCK 50
INSURANCE 135
400 Argonaut Group Inc 12,700
20
Value Index Portfolio 415 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
3.2% 800 Hormel Foods Corp
20,900
20
Value Index Portfolio 415 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
1,200 Burlington Industries Inc 13,800
*
20
Value Index Portfolio 415 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
1,000 IBP Inc 43,500
20
Value Index Portfolio 415 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
1,700 Eastman Chemical Co 101,150
20
Value Index Portfolio 415 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
1,000 Hershey Foods Corp 55,250
20
Value Index Portfolio 415 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
1,100 Brown-Forman Corp 36,713
20
Value Index Portfolio 415 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
3,900 American Brands Inc 155,025
20
Value Index Portfolio 415 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
500 Universal Foods Corp 16,188
20
Value Index Portfolio 415 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
1,500 Coca-Cola Enterprises Inc 32,813
20
Value Index Portfolio 415 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
900 Stride Rite Corp 9,338
20
Value Index Portfolio 415 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
6,074 RJR Nabisco Holdings Corp 169,313
20
Value Index Portfolio 415 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
10,632 Archer-Daniels-Midland Co 198,021
20
Value Index Portfolio 415 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
2,600 R R Donnelley & Sons Co 93,600
20
Value Index Portfolio 415 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
1,500 American Greetings Corp 44,063
20
Value Index Portfolio 415 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
900 American Media Inc 6,188
20
Value Index Portfolio 415 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
800 Dean Foods Co 22,400
20
Value Index Portfolio 415 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
600 Central Newspapers Inc 17,775
20
Value Index Portfolio 415 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
800 Adolph Coors Co 13,100
20
Value Index Portfolio 415 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
3,200 Masco Corp 86,400
20
Value Index Portfolio 415 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
1,500 Whirlpool Corp 82,500
20
Value Index Portfolio 415 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
1,000 Knight-Ridder Inc 56,875
20
Value Index Portfolio 415 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
2,000 New York Times Co 47,000
20
Value Index Portfolio 415 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
300 McClatchy Newspapers Inc 6,638
20
Value Index Portfolio 415 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
1,600 Liz Claiborne Inc 34,000
20
Value Index Portfolio 415 COMMON STOCK 50
MFTG - CONSUMER PRODS. 215
1,900 The Times Mirror Co 45,363
20
Value Index Portfolio 415 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
10.3% 800 Rexam PLC
35,900
20
Value Index Portfolio 415 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
700 The Stanley Works 26,513
20
Value Index Portfolio 415 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
300 Riverwood International Corp 6,975
20
Value Index Portfolio 415 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,600 Marion Merrell Dow Inc 40,800
20
Value Index Portfolio 415 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,300 Reynolds Metals Co 67,275
20
Value Index Portfolio 415 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
500 The Timken Co 23,063
20
Value Index Portfolio 415 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
800 Federal Paper Board Company Inc 28,300
20
Value Index Portfolio 415 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,600 USX-US Steel Group 55,000
20
Value Index Portfolio 415 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
400 First Brands Corp 17,150
20
Value Index Portfolio 415 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
2,400 Cooper Industries Inc 94,800
20
Value Index Portfolio 415 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,200 Witco Corp 38,700
20
Value Index Portfolio 415 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
600 Ferro Corp 15,900
20
Value Index Portfolio 415 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
900 Magma Copper Co 14,625
20
Value Index Portfolio 415 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
900 Raychem Corp 34,538
20
Value Index Portfolio 415 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
500 The B F Goodrich Co 26,813
20
Value Index Portfolio 415 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,800 Ethyl Corp 19,125
20
Value Index Portfolio 415 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
3,600 Upjohn Co 136,350
20
Value Index Portfolio 415 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
11,100 DuPont (E I) De Nemours & Co 763,125
20
Value Index Portfolio 415 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,800 Deere & Co 154,125
20
Value Index Portfolio 415 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
3,000 Union Carbide Corp 100,125
20
Value Index Portfolio 415 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
900 Snap-On Inc 34,875
20
Value Index Portfolio 415 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
200 St Joe Paper Co 12,700
20
Value Index Portfolio 415 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,400 Union Camp Corp 81,025
20
Value Index Portfolio 415 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
5,700 Dow Chemical Co 409,688
20
Value Index Portfolio 415 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
3,100 Scott Paper Co 153,450
20
Value Index Portfolio 415 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,000 Rohm & Haas Co 54,875
20
Value Index Portfolio 415 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
2,300 Air Products & Chemicals Inc 128,225
20
Value Index Portfolio 415 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,200 Mead Corp 71,250
20
Value Index Portfolio 415 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,600 Stone Container Corp 34,000
*
20
Value Index Portfolio 415 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
800 Armstrong World Industries Inc 40,100
20
Value Index Portfolio 415 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
500 Crane Co 18,125
20
Value Index Portfolio 415 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
900 Varity Corp 39,600
*
20
Value Index Portfolio 415 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
600 FMC Corp 40,350
*
20
Value Index Portfolio 415 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
600 Consolidated Papers Inc 34,575
20
Value Index Portfolio 415 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,400 James River Corp of Virginia 38,675
20
Value Index Portfolio 415 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
500 IMC Global Inc 27,063
20
Value Index Portfolio 415 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
5,000 Lilly (Eli) & Co 392,500
20
Value Index Portfolio 415 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,200 Temple-Inland Inc 57,150
20
Value Index Portfolio 415 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
500 Harsco Corp 26,375
20
Value Index Portfolio 415 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
900 Lear Seating Corp 20,588
*
20
Value Index Portfolio 415 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
400 Olin Corp 20,600
20
Value Index Portfolio 415 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,200 Lafarge Corp 22,500
20
Value Index Portfolio 415 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
2,200 Ingersoll-Rand Co 84,150
20
Value Index Portfolio 415 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
500 Glatfelter (P H) Co 10,063
20
Value Index Portfolio 415 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
800 Inland Steel Industries Inc 24,400
20
Value Index Portfolio 415 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
800 Cabot Corp 42,200
20
Value Index Portfolio 415 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
400 International Specialty Products Inc 3,400
20
Value Index Portfolio 415 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
3,700 Aluminum Company of America 185,463
20
Value Index Portfolio 415 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,200 Westvaco Corp 53,100
20
Value Index Portfolio 415 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
900 Jostens Inc 19,125
20
Value Index Portfolio 415 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
600 Ball Corp 20,925
20
Value Index Portfolio 415 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
3,100 Goodyear Tire & Rubber Co 127,875
20
Value Index Portfolio 415 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,500 Parker Hannifin Corp 54,375
20
Value Index Portfolio 415 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
400 National Gypsum Co 20,900
*
20
Value Index Portfolio 415 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
900 Allegheny Ludlum Corp 17,775
20
Value Index Portfolio 415 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
2,100 Bethlehem Steel Corp 34,125
*
20
Value Index Portfolio 415 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,600 Champion International Corp 83,400
20
Value Index Portfolio 415 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
500 Potlatch Corp 20,875
20
Value Index Portfolio 415 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
800 Lyondell Petrochemical Co 20,500
20
Value Index Portfolio 415 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,900 W R Grace & Co 116,613
20
Value Index Portfolio 415 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
1,300 Lubrizol Corp 45,988
20
Value Index Portfolio 415 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
600 Wellman Inc 16,425
20
Value Index Portfolio 415 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
700 CBI Industries Inc 17,588
20
Value Index Portfolio 415 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
2,200 LTV Corp 32,175
*
20
Value Index Portfolio 415 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
300 Tecumseh Products Co 13,200
20
Value Index Portfolio 415 COMMON STOCK 50
MFTG - INDUSTRIAL PRODS 195
800 Georgia Gulf Corp 26,100
20
Value Index Portfolio 415 COMMON STOCK 50
MINING 105
0.5% 800 Alumax Inc
24,900 *
20
Value Index Portfolio 415 COMMON STOCK 50
MINING 105
700 Vulcan Materials Co 38,150
20
Value Index Portfolio 415 COMMON STOCK 50
MINING 105
1,300 Phelps Dodge Corp 76,700
20
Value Index Portfolio 415 COMMON STOCK 50
MINING 105
600 Asarco Inc 18,300
20
Value Index Portfolio 415 COMMON STOCK 50
MINING 105
1,900 Cyprus Amax Minerals Co 54,150
20
Value Index Portfolio 415 COMMON STOCK 50
MINING 105
200 Newmont Gold Co 8,050
20
Value Index Portfolio 415 COMMON STOCK 50
OIL & GAS 100
12.3% 5,400 Texaco Inc
354,375
20
Value Index Portfolio 415 COMMON STOCK 50
OIL & GAS 100
1,600 Sun Company Inc 43,800
20
Value Index Portfolio 415 COMMON STOCK 50
OIL & GAS 100
800 Ultramar Corp 20,200
20
Value Index Portfolio 415 COMMON STOCK 50
OIL & GAS 100
1,900 Coastal Corp 57,713
20
Value Index Portfolio 415 COMMON STOCK 50
OIL & GAS 100
1,700 Santa Fe Energy Resources Inc 16,150
*
20
Value Index Portfolio 415 COMMON STOCK 50
OIL & GAS 100
12,700 Chevron Corp 592,138
20
Value Index Portfolio 415 COMMON STOCK 50
OIL & GAS 100
1,700 Amerada Hess Corp 83,088
20
Value Index Portfolio 415 COMMON STOCK 50
OIL & GAS 100
900 Murphy Oil Corp 36,900
20
Value Index Portfolio 415 COMMON STOCK 50
OIL & GAS 100
1,100 Kerr-McGee Corp 58,988
20
Value Index Portfolio 415 COMMON STOCK 50
OIL & GAS 100
6,500 Occidental Petroleum Corp 148,688
20
Value Index Portfolio 415 COMMON STOCK 50
OIL & GAS 100
500 Diamond Shamrock Inc 12,875
20
Value Index Portfolio 415 COMMON STOCK 50
OIL & GAS 100
38 Fina Inc 1,772
20
Value Index Portfolio 415 COMMON STOCK 50
OIL & GAS 100
900 Pennzoil Co 42,413
20
Value Index Portfolio 415 COMMON STOCK 50
OIL & GAS 100
2,100 Oryx Energy Co 28,875
*
20
Value Index Portfolio 415 COMMON STOCK 50
OIL & GAS 100
10,200 Amoco Corp 679,575
20
Value Index Portfolio 415 COMMON STOCK 50
OIL & GAS 100
6,100 USX-Marathon Group 120,475
20
Value Index Portfolio 415 COMMON STOCK 50
OIL & GAS 100
2,300 Halliburton Co 82,225
20
Value Index Portfolio 415 COMMON STOCK 50
OIL & GAS 100
1,300 Ashland Inc 45,663
20
Value Index Portfolio 415 COMMON STOCK 50
OIL & GAS 100
800 Mitchell Energy & Development Corp 14,600
20
Value Index Portfolio 415 COMMON STOCK 50
OIL & GAS 100
3,300 Atlantic Richfield Co 362,175
20
Value Index Portfolio 415 COMMON STOCK 50
OIL & GAS 100
900 Ensco International Inc 14,288
*
20
Value Index Portfolio 415 COMMON STOCK 50
OIL & GAS 100
25,600 Exxon Corp *********
20
Value Index Portfolio 415 COMMON STOCK 50
OIL & GAS 100
8,100 Mobil Corp 777,600
20
Value Index Portfolio 415 COMMON STOCK 50
OIL & GAS 100
1,400 Enserch Corp 23,975
20
Value Index Portfolio 415 COMMON STOCK 50
OIL & GAS 100
700 Giddings & Lewis Inc 12,513
20
Value Index Portfolio 415 COMMON STOCK 50
OTHER TRANS. SERVICES 165
0.1%
900 Alexander & Baldwin Inc 20,025
20
Value Index Portfolio 415 COMMON STOCK 50
OTHER TRANS. SERVICES 165
400 General American Transportation Corp 18,850
20
Value Index Portfolio 415 COMMON STOCK 50
OTHER TRANS. SERVICES 165
700 Overseas Shipholding Group Inc 14,525
20
Value Index Portfolio 415 COMMON STOCK 50
RAILROADS 175
1.5%
2,200 CSX Corp 165,275
20
Value Index Portfolio 415 COMMON STOCK 50
RAILROADS 175
1,600 Conrail Inc 89,000
20
Value Index Portfolio 415 COMMON STOCK 50
RAILROADS 175
2,700 Norfolk Southern Corp 181,913
20
Value Index Portfolio 415 COMMON STOCK 50
RAILROADS 175
4,200 Union Pacific Corp 232,575
20
Value Index Portfolio 415 COMMON STOCK 50
REAL ESTATE 150
0.1%
600 Price Enterprises Inc 8,250
*
20
Value Index Portfolio 415 COMMON STOCK 50
REAL ESTATE 150
1,100 Simon Property Group Inc 27,638
20
Value Index Portfolio 415 COMMON STOCK 50
REAL ESTATE 150
800 Debartolo Realty Corp 11,700
20
Value Index Portfolio 415 COMMON STOCK 50
RETAIL TRADE 207
3.6%
2,500 American Stores Co 70,313
20
Value Index Portfolio 415 COMMON STOCK 50
RETAIL TRADE 207
600 Vons Companies Inc 12,075
*
20
Value Index Portfolio 415 COMMON STOCK 50
RETAIL TRADE 207
2,700 Woolworth Corp 40,838
20
Value Index Portfolio 415 COMMON STOCK 50
RETAIL TRADE 207
300 Weis Markets Inc 8,325
20
Value Index Portfolio 415 COMMON STOCK 50
RETAIL TRADE 207
2,000 Melville Corp 68,500
20
Value Index Portfolio 415 COMMON STOCK 50
RETAIL TRADE 207
3,800 Federated Department Stores Inc 97,850
*
20
Value Index Portfolio 415 COMMON STOCK 50
RETAIL TRADE 207
2,500 Genuine Parts Co 94,688
20
Value Index Portfolio 415 COMMON STOCK 50
RETAIL TRADE 207
6,600 Sears Roebuck & Co 395,175
20
Value Index Portfolio 415 COMMON STOCK 50
RETAIL TRADE 207
400 Mercantile Stores Company Inc 18,600
20
Value Index Portfolio 415 COMMON STOCK 50
RETAIL TRADE 207
2,300 Dillard Department Stores Inc 67,563
20
Value Index Portfolio 415 COMMON STOCK 50
RETAIL TRADE 207
1,700 Rite Aid Corp 43,563
20
Value Index Portfolio 415 COMMON STOCK 50
RETAIL TRADE 207
1,500 Dayton Hudson Corp 107,625
20
Value Index Portfolio 415 COMMON STOCK 50
RETAIL TRADE 207
500 Meyer (Fred) Inc 13,563
*
20
Value Index Portfolio 415 COMMON STOCK 50
RETAIL TRADE 207
400 Petrie Stores Corp 2,700
20
Value Index Portfolio 415 COMMON STOCK 50
RETAIL TRADE 207
1,200 Echlin Inc 41,700
20
Value Index Portfolio 415 COMMON STOCK 50
RETAIL TRADE 207
4,800 Penney (J C) & Company Inc 230,400
20
Value Index Portfolio 415 COMMON STOCK 50
RETAIL TRADE 207
1,200 Giant Food Inc 34,050
20
Value Index Portfolio 415 COMMON STOCK 50
RETAIL TRADE 207
1,500 Tandy Corp 77,813
20
Value Index Portfolio 415 COMMON STOCK 50
RETAIL TRADE 207
400 Great Atlantic & Pacific Tea Company I 10,550
20
Value Index Portfolio 415 COMMON STOCK 50
RETAIL TRADE 207
9,400 Kmart Corp 137,475
20
Value Index Portfolio 415 COMMON STOCK 50
RETAIL TRADE 207
300 Longs Drug Stores Corp 11,250
20
Value Index Portfolio 415 COMMON STOCK 50
SECURITIES & COMMODITIE 145
1.0% 3,800 Merrill Lynch & Company Inc
199,500
20
Value Index Portfolio 415 COMMON STOCK 50
SECURITIES & COMMODITIE 145
1,225 A G Edwards Inc 27,502
20
Value Index Portfolio 415 COMMON STOCK 50
SECURITIES & COMMODITIE 145
2,200 Salomon Inc 88,275
20
Value Index Portfolio 415 COMMON STOCK 50
SECURITIES & COMMODITIE 145
1,000 Morgan Stanley Group Inc 81,000
20
Value Index Portfolio 415 COMMON STOCK 50
SECURITIES & COMMODITIE 145
2,441 The Bear Stearns Companies Inc 52,176
20
Value Index Portfolio 415 COMMON STOCK 50
TELEPHONE
85 8.5%
12,508 SBC Communications Inc 595,694
20
Value Index Portfolio 415 COMMON STOCK 50
TELEPHONE
85
11,400 Ameritech Corp 501,600
20
Value Index Portfolio 415 COMMON STOCK 50
TELEPHONE
85
8,800 Nynex Corp 354,200
20
Value Index Portfolio 415 COMMON STOCK 50
TELEPHONE
85
10,200 Bellsouth Corp 647,700
20
Value Index Portfolio 415 COMMON STOCK 50
TELEPHONE
85
9,600 U S West Inc 399,600
20
Value Index Portfolio 415 COMMON STOCK 50
TELEPHONE
85
20,000 GTE Corp 682,500
20
Value Index Portfolio 415 COMMON STOCK 50
TELEPHONE
85
146 Pacific Telecom Inc 4,344
20
Value Index Portfolio 415 COMMON STOCK 50
TELEPHONE
85
9,000 Bell Atlantic Corp 504,000
20
Value Index Portfolio 415 COMMON STOCK 50
TELEPHONE
85
1,100 Southern New England Telecommunication 38,775
20
Value Index Portfolio 415 COMMON STOCK 50
TELEPHONE
85
1,700 Frontier Corp 40,800
20
Value Index Portfolio 415 COMMON STOCK 50
TRANSPORTATION EQUIPMEN 170
6.9%
600 Mascotech Inc 7,425
20
Value Index Portfolio 415 COMMON STOCK 50
TRANSPORTATION EQUIPMEN 170
715 Paccar Inc 33,426
20
Value Index Portfolio 415 COMMON STOCK 50
TRANSPORTATION EQUIPMEN 170
700 Northrop Grumman Corp 36,488
20
Value Index Portfolio 415 COMMON STOCK 50
TRANSPORTATION EQUIPMEN 170
1,400 Textron Inc 81,375
20
Value Index Portfolio 415 COMMON STOCK 50
TRANSPORTATION EQUIPMEN 170
1,100 TRW Inc 87,863
20
Value Index Portfolio 415 COMMON STOCK 50
TRANSPORTATION EQUIPMEN 170
1,500 Navistar International Corp 22,688
*
20
Value Index Portfolio 415 COMMON STOCK 50
TRANSPORTATION EQUIPMEN 170
1,200 McDonnell Douglas Corp 92,100
20
Value Index Portfolio 415 COMMON STOCK 50
TRANSPORTATION EQUIPMEN 170
15,400 General Motors Corp 721,875
20
Value Index Portfolio 415 COMMON STOCK 50
TRANSPORTATION EQUIPMEN 170
600 Sundstrand Corp 35,850
20
Value Index Portfolio 415 COMMON STOCK 50
TRANSPORTATION EQUIPMEN 170
700 Cummins Engine Company Inc 30,538
20
Value Index Portfolio 415 COMMON STOCK 50
TRANSPORTATION EQUIPMEN 170
+3,200 Rockwell International Corp 146,400
20
Value Index Portfolio 415 COMMON STOCK 50
TRANSPORTATION EQUIPMEN 170
700 Federal-Mogul Corp 12,775
20
Value Index Portfolio 415 COMMON STOCK 50
TRANSPORTATION EQUIPMEN 170
2,100 Dana Corp 60,113
20
Value Index Portfolio 415 COMMON STOCK 50
TRANSPORTATION EQUIPMEN 170
22,400 Ford Motor Co 666,400
20
Value Index Portfolio 415 COMMON STOCK 50
TRANSPORTATION EQUIPMEN 170
1,600 Eaton Corp 93,000
20
Value Index Portfolio 415 COMMON STOCK 50
TRANSPORTATION EQUIPMEN 170
7,000 The Boeing Co 438,375
20
Value Index Portfolio 415 COMMON STOCK 50
TRANSPORTATION EQUIPMEN 170
900 General Dynamics Corp 39,938
20
Value Index Portfolio 415 COMMON STOCK 50
TRANSPORTATION EQUIPMEN 170
1,900 General Motors Corp 75,050
20
Value Index Portfolio 415 COMMON STOCK 50
TRANSPORTATION EQUIPMEN 170
7,600 Chrysler Corp 363,850
20
Value Index Portfolio 415 COMMON STOCK 50
WATER - SUPPLY
95 0.0%
500 American Water Works Company Inc 15,875
20
Value Index Portfolio 415 COMMON STOCK 50
WHOLESALE TRADE - INDL 197
0.0%
500 Manville Corp 6,875
*
20
Value Index Portfolio 415 COMMON STOCK 50
WHOLESALE TRADE -CONSUM 209
0.5%
4,000 Price/Costco Inc 65,000
*
20
Value Index Portfolio 415 COMMON STOCK 50
WHOLESALE TRADE -CONSUM 209
400 Itel Corp 15,600
*
20
Value Index Portfolio 415 COMMON STOCK 50
WHOLESALE TRADE -CONSUM 209
800 Fleming Companies Inc 21,200
20
Value Index Portfolio 415 COMMON STOCK 50
WHOLESALE TRADE -CONSUM 209
625 Rayonier Inc 22,188
20
Value Index Portfolio 415 COMMON STOCK 50
WHOLESALE TRADE -CONSUM 209
1,000 Avery Dennison Corp 40,000
20
Value Index Portfolio 415 COMMON STOCK 50
WHOLESALE TRADE -CONSUM 209
1,500 Supervalu Inc 43,688
********************
20
Value Index Portfolio 415 SHORT-TERM INVESTMENT 10
3.7%FOREIGN BANKS 130 3.7%
1,655,000 Canadian Imperial Bank of Commerce *********1,655,000
1,655,000 ********************
20
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