UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F
FORM 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: September 30, 2000
Check here if Amendment [ ]; Amendment Number:
This Amendment (Check only one.): [ ] is a restatement.
[ ] adds new holding entries.
Institutional Investment Manager Filing this Report:
Name: Guardian Investor Services Corporation
Address: 7 Hanover Square
New York, NY 10004
13F File Number: 028-02098
The institutional investment manager filing this report and the person by whom
it is signed hereby represent that the person signing the report is authorized
to submit it, that all information contained herein is true, correct and
complete, and that it is understood that all required items, statements,
schedules, lists, and tables, are considered integral parts of this form.
Person Signing this Report on Behalf of Reporting Manager:
Name: Frank L. Pepe
Title: Vice President/Treasurer
Phone: 212-598-8445
Signature, Place, and Date of Signing:
Frank L. Pepe New York, NY October 20, 2000
Report Type (Check only one.):
[ x ] 13F HOLDINGS REPORT.
[ ] 13F NOTICE.
[ ] 13F COMBINATION REPORT.
List of Other Managers Reporting for this Manager:
I AM SIGNING THIS REPORT AS REQUIRED BY THE SECURITIES EXCHANGE ACT OF 1934.
<PAGE>
FORM 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers: 0
Form 13F Information Table Entry Total: 1,298
Form 13F Information Table Value Total: $8,573,293,068
List of Other Included Managers:
No. 13F File Number Name
<PAGE>
<TABLE>
THE GUARDIAN PARK AVENUE FUND
FORM 13F INFORMATION TABLE
<C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
NAME OF ISSUER TITLE OF CUSIP MKT VAL SHRS/PRIN INV DISCRETION VOTING AUTHORITY (SHARES)
CLASS NUMBER SOLE SHRD OTHR MGR A-SOLE B-SHRDC-NONE
AMDOCS LIMITED ORD G02602103 4,653,175 74,600 X 01 74,600 0 0
SANTA FE INTERNATIONAL CORP ORD G7805C108 24,860,981 551,700 X 01 551,700 0 0
TRANSOCEAN SEDCO FOREX INC ORD G90078109 8,946,703 152,609 X 01 152,609 0 0
CHECK POINT SOFTWARE ORD M22465104 13,986,000 88,800 X 01 88,800 0 0
FLEXTRONICS INTERNATIONAL ORD Y2573F102 8,054,820 98,080 X 01 98,080 0 0
AES CORP COM 00130H105 11,679,250 170,500 X 01 170,500 0 0
AMR CORP COM 001765106 5,282,300 161,600 X 01 161,600 0 0
AT&T CORP COM 001957208 7,457,400 414,300 X 01 414,300 0 0
AVX CORP COM 002444107 6,046,500 232,000 X 01 232,000 0 0
ADOBE SYS INC COM 00724F101 13,863,825 89,300 X 01 89,300 0 0
ADVANCED MICRO DEVICES INC COM 007903107 28,283,850 1,197,200 X 01 1,197,20 0 0
ADVENT SOFTWARE INC COM 007974108 7,378,800 105,600 X 01 105,600 0 0
ALBEMARLE CORP COM 012653101 2,915,075 144,400 X 01 144,400 0 0
ALLERGAN INC COM 018490102 9,532,994 112,900 X 01 112,900 0 0
ALLIANCE SEMICONDUCTOR CORP COM 01877H100 5,568,975 280,200 X 01 280,200 0 0
ALPHARMA INC CL A 020813101 5,837,438 95,500 X 01 95,500 0 0
ALTERA CORP COM 021441100 15,065,125 315,500 X 01 315,500 0 0
ALZA CORP COM 022615108 11,807,250 136,500 X 01 136,500 0 0
AMGEN INC COM 031162100 21,604,822 309,400 X 01 309,400 0 0
ANALOG DEVICES INC COM 032654105 35,832,125 434,000 X 01 434,000 0 0
ANDRX CORP DEL COM 034553107 29,674,575 317,800 X 01 317,800 0 0
APACHE CORP COM 037411105 18,281,450 309,200 X 01 309,200 0 0
APPLIED MICRO CIRCUITS CORP COM 03822W109 39,983,769 193,100 X 01 193,100 0 0
APPLIED MATERIALS INC COM 038222105 6,672,656 112,500 X 01 112,500 0 0
ARIBA INC COM 04033V104 6,160,422 43,000 X 01 43,000 0 0
ART TECHNOLOGY GROUP INC COM 04289L107 4,491,150 47,400 X 01 47,400 0 0
ATMEL CORP COM 049513104 5,698,350 375,200 X 01 375,200 0 0
AVANEX CORP COM 05348W109 3,553,688 33,000 X 01 33,000 0 0
BJ SVCS CO COM 055482103 9,835,013 160,900 X 01 160,900 0 0
BANK NEW YORK INC COM 064057102 25,598,138 456,600 X 01 456,600 0 0
BEA SYS INC COM 073325102 43,337,438 556,500 X 01 556,500 0 0
BEST BUY CO INC COM 086516101 8,939,313 140,500 X 01 140,500 0 0
BOOKHAM TECHNOLOGY PLC ADR 09856Q108 4,802,000 112,000 X 01 112,000 0 0
BROCADE COMMUNICATIONS SYS INC COM 111621108 15,741,200 66,700 X 01 66,700 0 0
BURLINGTON RES INC COM 122014103 8,562,588 232,600 X 01 232,600 0 0
CALPINE CORP COM 131347106 11,449,938 109,700 X 01 109,700 0 0
CELESTICA INC SUB VTG SHS 15101Q108 16,800,050 242,600 X 01 242,600 0 0
CHARTER ONE FINL INC COM 160903100 423,394 17,370 X 01 17,370 0 0
CIENA CORP COM 171779101 12,035,625 98,000 X 01 98,000 0 0
CISCO SYS INC COM 17275R102 119,561,000 2,164,000 X 01 2,164,00 0 0
CITIGROUP INC COM 172967101 138,111,631 2,554,666 X 01 2,554,66 0 0
COASTAL CORP COM 190441105 12,297,338 165,900 X 01 165,900 0 0
COCA COLA CO COM 191216100 48,173,738 873,900 X 01 873,900 0 0
COHERENT INC COM 192479103 6,657,200 97,900 X 01 97,900 0 0
COMERICA INC COM 200340107 14,457,438 247,400 X 01 247,400 0 0
COMMERCE BANCORP INC COM 200519106 5,539,450 95,200 X 01 95,200 0 0
COMPAQ COMPUTER CORP COM 204493100 16,495,598 598,100 X 01 598,100 0 0
COOPER CAMERON CORP COM 216640102 12,696,356 172,300 X 01 172,300 0 0
CORNING INC COM 219350105 87,080,400 293,200 X 01 293,200 0 0
COUNTRYWIDE CR INDS INC COM 222372104 20,033,925 530,700 X 01 530,700 0 0
CREDENCE SYSTEMS CORP COM 225302108 6,996,000 233,200 X 01 233,200 0 0
CREE INC COM 225447101 6,312,375 54,300 X 01 54,300 0 0
CYPRESS SEMICONDUCTOR CORP COM 232806109 27,036,406 650,500 X 01 650,500 0 0
D.R.HORTON INC COM 23331A109 4,243,336 246,885 X 01 246,885 0 0
DELL COMPUTER CORP COM 247025109 18,891,144 613,100 X 01 613,100 0 0
DISNEY WALT CO COM 254687106 48,833,775 1,276,700 X 01 1,276,70 0 0
DUKE ENERGY CO COM 264399106 17,896,025 208,700 X 01 208,700 0 0
DYNEGY INC CL A 26816Q101 7,826,100 137,300 X 01 137,300 0 0
E M C CORP COM 268648102 104,438,100 1,053,600 X 01 1,053,60 0 0
EOG RESOURCES INC COM 26875P101 12,377,800 318,400 X 01 318,400 0 0
EDWARDS AG INC COM 281760108 6,706,463 128,200 X 01 128,200 0 0
EL PASO ENERGY CORP COM 283905107 11,942,925 193,800 X 01 193,800 0 0
EMULEX CORP COM 292475209 4,777,500 39,000 X 01 39,000 0 0
ENRON CORP COM 293561106 20,653,213 235,700 X 01 235,700 0 0
ENZON INC COM 293904108 17,509,800 265,300 X 01 265,300 0 0
EXAR CORP COM 300645108 5,082,908 41,600 X 01 41,600 0 0
EXODUS COMMUNICATIONS INC COM 302088109 36,063,500 730,400 X 01 730,400 0 0
EXTREME NETWORKS INC COM 30226D106 7,236,400 63,200 X 01 63,200 0 0
FPL GROUP INC COM 302571104 5,747,620 87,600 X 01 87,600 0 0
FEDERAL HOME LN MTG CORP COM 313400301 11,131,469 205,900 X 01 205,900 0 0
FEDERAL NATL MTG ASSN COM 313586109 16,902,600 236,400 X 01 236,400 0 0
FEDERATED INVS INC PA CL B 314211103 5,143,050 207,800 X 01 207,800 0 0
FINISAR CORP COM 31787A101 4,832,663 99,900 X 01 99,900 0 0
FOUNDRY NETWORKS INC COM 35063R100 3,420,506 51,100 X 01 51,100 0 0
FRANKLIN RES INC COM 354613101 7,148,787 160,900 X 01 160,900 0 0
GENENTECH INC COM 368710406 20,109,956 108,300 X 01 108,300 0 0
GENERAL ELEC CO COM 369604103 158,709,850 2,751,200 X 01 2,751,20 0 0
GLOBESPAN SEMICONDUCTOR INC COM 379571102 10,589,600 86,800 X 01 86,800 0 0
GOLDEN ST BANCORP INC COM 381197102 13,447,350 569,200 X 01 569,200 0 0
GOLDEN WEST FINL CORP COM 381317106 26,308,425 490,600 X 01 490,600 0 0
GOLDMAN SACHS GROUP INC COM 38141G104 14,709,331 129,100 X 01 129,100 0 0
HEALTH MGMT ASSOC CL A 421933102 20,275,538 974,200 X 01 974,200 0 0
HEWLETT PACKARD CO COM 428236103 27,480,100 283,300 X 01 283,300 0 0
HUMAN GENOME SCIENCES INC COM 444903108 36,875,625 213,000 X 01 213,000 0 0
INTEGRATED DEVICE TECHNOLOGY COM 458118106 29,376,300 324,600 X 01 324,600 0 0
INTEL CORP COM 458140100 94,995,250 2,285,600 X 01 2,285,60 0 0
INTERNATIONAL BUSINESS MACHS COM 459200101 83,137,500 739,000 X 01 739,000 0 0
INTERNATIONAL RECTIFIER CORP COM 460254105 12,135,000 240,000 X 01 240,000 0 0
I2 TECHNOLOGIES INC COM 465754109 8,324,281 44,500 X 01 44,500 0 0
JABIL CIRCUIT INC COM 466313103 21,116,675 372,100 X 01 372,100 0 0
JUNIPER NETWORKS INC COM 48203R104 26,710,375 122,000 X 01 122,000 0 0
KLA TENCOR CORP COM 482480100 9,135,388 221,800 X 01 221,800 0 0
KEMET CORP COM 488360108 5,839,925 211,400 X 01 211,400 0 0
KERR MCGEE CORP COM 492386107 10,931,250 165,000 X 01 165,000 0 0
KEYSPAN CORP COM 49337W100 3,488,945 88,000 X 01 88,000 0 0
KING PHARMACEUTICALS INC COM 495582108 5,998,688 179,400 X 01 179,400 0 0
LSI LOGIC CORP COM 502161102 12,138,750 415,000 X 01 415,000 0 0
LATTICE SEMICONDUCTOR CORP COM 518415104 3,262,625 60,700 X 01 60,700 0 0
LEGG MASON INC COM 524901105 17,406,461 299,466 X 01 299,466 0 0
LEHMAN BROTHERS HLDGS INC COM 524908100 58,316,925 394,700 X 01 394,700 0 0
LENNAR CORP COM 526057104 4,655,000 156,800 X 01 156,800 0 0
LINCOLN NATL CORP IN COM 534187109 3,816,313 79,300 X 01 79,300 0 0
LINEAR TECHNOLOGY CORP COM 535678106 5,516,700 85,200 X 01 85,200 0 0
M & T BK CORP COM 55261F104 12,036,000 23,600 X 01 23,600 0 0
MBNA CORP COM 55262L100 20,662,950 536,700 X 01 536,700 0 0
MAXIM INTEGRATED PRODS INC COM 57772K101 11,623,219 144,500 X 01 144,500 0 0
MEDIMMUNE INC COM 584699102 4,279,650 55,400 X 01 55,400 0 0
MELLON FINL CORP COM 58551A108 24,458,175 527,400 X 01 527,400 0 0
MERCURY INTERACTIVE CORP COM 589405109 29,155,500 186,000 X 01 186,000 0 0
MERRILL LYNCH & CO INC COM 590188108 39,006,000 591,000 X 01 591,000 0 0
METTLER TOLEDO INTL INC COM 592688105 3,759,433 83,600 X 01 83,600 0 0
MICREL INC COM 594793101 27,269,000 407,000 X 01 407,000 0 0
MICROSOFT CORP COM 594918104 45,972,902 762,245 X 01 762,245 0 0
MICROCHIP TECHNOLOGY INC COM 595017104 7,215,891 218,250 X 01 218,250 0 0
MICROMUSE INC COM 595094103 20,495,625 102,000 X 01 102,000 0 0
MICRON TECHNOLOGY INC COM 595112103 25,244,800 548,800 X 01 548,800 0 0
MILLENNIUM PHARMACEUTICALS COM 599902103 28,190,063 193,000 X 01 193,000 0 0
MORGAN STANLEY DEAN WITTER & CO COM 617446448 56,270,638 615,400 X 01 615,400 0 0
MYRIAD GENETICS INC COM 62855J104 3,083,588 35,700 X 01 35,700 0 0
NRG ENERGY INC COM 629377102 10,055,750 275,500 X 01 275,500 0 0
NATIONAL SEMICONDUCTOR CORP COM 637640103 22,310,575 554,300 X 01 554,300 0 0
NETWORK APPLIANCE INC COM 64120L104 26,264,725 206,200 X 01 206,200 0 0
NEW FOCUS INC COM 644383101 3,304,813 41,800 X 01 41,800 0 0
NEWPORT CORP COM 651824104 13,505,725 84,800 X 01 84,800 0 0
NOBLE DRILLING CORP COM 655042109 17,492,025 348,100 X 01 348,100 0 0
NORTEL NETWORKS CORP COM 656568102 92,238,488 1,548,600 X 01 1,548,60 0 0
NOVELLUS SYS INC COM 670008101 4,172,000 89,600 X 01 89,600 0 0
NVIDIA CORP COM 67066G104 17,521,250 214,000 X 01 214,000 0 0
OSI PHARMACEUTICALS INC COM 671040103 5,873,000 83,900 X 01 83,900 0 0
ONI SYS CORP COM 68273F103 5,083,806 58,900 X 01 58,900 0 0
ORACLE CORP COM 68389X105 75,253,500 955,600 X 01 955,600 0 0
OXFORD HEALTH PLANS INC COM 691471106 4,182,948 136,100 X 01 136,100 0 0
PC CONNECTION INC COM 69318J100 7,586,700 133,100 X 01 133,100 0 0
PECO ENERGY CO COM 693304107 6,086,531 100,500 X 01 100,500 0 0
PE CORP COM 69332S102 8,201,600 70,400 X 01 70,400 0 0
PMC SIERRA INC COM 69344F106 29,941,275 139,100 X 01 139,100 0 0
PNC FINL SVCS GROUP INC COM 693475105 10,497,500 161,500 X 01 161,500 0 0
PALM INC COM 696642107 6,574,838 124,200 X 01 124,200 0 0
PARADYNE NETWORKS INC COM 69911G107 819,047 151,500 X 01 151,500 0 0
PEPSI BOTTLING GROUP INC COM 713409100 13,056,144 434,300 X 01 434,300 0 0
PEPSICO INC COM 713448108 30,691,200 667,200 X 01 667,200 0 0
PERKINELMER INC COM 714046109 17,315,813 165,900 X 01 165,900 0 0
PIER 1 IMPORTS INC COM 720279108 6,112,619 450,700 X 01 450,700 0 0
PREMIER NATL BANCORP INC COM 74053F107 2,731,725 134,900 X 01 134,900 0 0
PRICE T ROWE & ASSOC INC COM 741477103 6,092,488 129,800 X 01 129,800 0 0
PRIMUS TELECOMM GROUP INC COM 741929103 1,580,800 166,400 X 01 166,400 0 0
PROXIM INC COM 744284100 13,047,400 293,200 X 01 293,200 0 0
PULTE CORP COM 745867101 4,474,800 135,600 X 01 135,600 0 0
QLOGIC CORP COM 747277101 10,023,200 113,900 X 01 113,900 0 0
QUALCOMM INC COM 747525103 8,507,250 119,400 X 01 119,400 0 0
R & B FALCON CORP COM 74912E101 15,771,675 565,800 X 01 565,800 0 0
QWEST COMMUNICATIONS INTL INC COM 749121109 37,714,452 784,696 X 01 784,696 0 0
RAMBUS INC COM 750917106 5,470,369 69,300 X 01 69,300 0 0
RATIONAL SOFTWARE CORP COM 75409P202 14,013,750 202,000 X 01 202,000 0 0
REDBACK NETWORKS INC COM 757209101 8,396,800 51,200 X 01 51,200 0 0
RELIANT ENERGY INC COM 75952J108 9,867,300 212,200 X 01 212,200 0 0
RESEARCH IN MOTION LTD COM 760975102 11,571,238 117,400 X 01 117,400 0 0
SCI SYS INC COM 783890106 23,689,800 577,800 X 01 577,800 0 0
SDL INC COM 784076101 30,993,113 100,200 X 01 100,200 0 0
SAGA SYS INC COM 786610105 3,280,200 312,400 X 01 312,400 0 0
SANDISK CORP COM 80004C101 5,179,800 77,600 X 01 77,600 0 0
SANMINA CORP COM 800907107 12,302,325 131,400 X 01 131,400 0 0
SCHLUMBERGER LTD COM 806857108 22,076,213 268,200 X 01 268,200 0 0
SCHWAB CHARLES CORP COM 808513105 26,793,874 754,757 X 01 754,757 0 0
SCIENTIFIC ATLANTA INC COM 808655104 25,787,213 405,300 X 01 405,300 0 0
SEMTECH CORP COM 816850101 18,785,250 435,600 X 01 435,600 0 0
SEPRACOR INC COM 817315104 14,845,188 121,000 X 01 121,000 0 0
SIEBEL SYS INC COM 826170102 20,214,350 181,600 X 01 181,600 0 0
SILICON IMAGE INC COM 82705T102 6,074,100 244,800 X 01 244,800 0 0
SILICON VY BANCSHARES COM 827064106 6,726,070 115,500 X 01 115,500 0 0
SOUTHDOWN INC COM 841297104 4,845,000 68,000 X 01 68,000 0 0
STARBUCKS CORP COM 855244109 5,404,431 134,900 X 01 134,900 0 0
STARWOOD HOTELS & RESORTS COM 85590A203 3,340,625 106,900 X 01 106,900 0 0
STATE STREET CORPORATION COM 857477103 8,944,000 68,800 X 01 68,800 0 0
SUN MICROSYSTEMS INC COM 866810104 72,933,725 624,700 X 01 624,700 0 0
SYCAMORE NETWORKS INC COM 871206108 3,672,000 34,000 X 01 34,000 0 0
SYMANTEC CORP COM 871503108 5,372,400 122,100 X 01 122,100 0 0
TCF FINANCIAL CORP COM 872275102 22,970,063 610,500 X 01 610,500 0 0
TALISMAN ENERGY INC COM 87425E103 12,545,363 357,800 X 01 357,800 0 0
TENET HEALTHCARE CORP COM 88033G100 18,813,150 517,200 X 01 517,200 0 0
TERADYNE INC COM 880770102 9,075,500 259,300 X 01 259,300 0 0
TEVA PHARMACEUTICAL INDS LTD ADR 881624209 10,290,163 140,600 X 01 140,600 0 0
TEXAS INSTRS INC COM 882508104 24,754,563 524,600 X 01 524,600 0 0
TIBCO SOFTWARE INC COM 88632Q103 6,543,906 77,500 X 01 77,500 0 0
TOLL BROS INC COM 889478103 4,791,875 139,400 X 01 139,400 0 0
TRANSWITCH CORP COM 894065101 20,329,875 318,900 X 01 318,900 0 0
UNITED STATIONERS INC COM 913004107 7,336,875 273,000 X 01 273,000 0 0
UNIVERSALHEALTH SVCS INC CL B 913903100 5,214,563 60,900 X 01 60,900 0 0
VARIAN INC COM 922206107 1,365,581 31,800 X 01 31,800 0 0
VARIAN SEMICONDUCTOR EQUIP INC COM 922207105 2,882,688 77,000 X 01 77,000 0 0
VENATOR GROUP INC COM 922944103 6,558,750 530,000 X 01 530,000 0 0
VERISIGN INC COM 92343E102 6,305,771 31,130 X 01 31,130 0 0
VERTEX PHARMACEUTICALS INC COM 92532F100 10,866,700 128,600 X 01 128,600 0 0
VIACOM INC CL B 925524308 26,557,596 453,976 X 01 453,976 0 0
VISHAY INTERTECHNOLOGY INC COM 928298108 7,329,263 238,350 X 01 238,350 0 0
VITRIA TECHNOLOGY INC COM 92849Q104 4,047,050 86,800 X 01 86,800 0 0
WASHINGTON MUT INC COM 939322103 27,235,731 684,100 X 01 684,100 0 0
WATERS CORP COM 941848103 2,243,944 25,700 X 01 25,700 0 0
WEATHERFORD INTL INC COM 947074100 13,136,500 305,500 X 01 305,500 0 0
XILINX INC COM 983919101 20,447,250 238,800 X 01 238,800 0 0
YAHOO INC COM 984332106 9,200,100 101,100 X 01 101,100 0 0
3,709,991,860
201 ITEMS
</TABLE>
<TABLE>
THE GUARDIAN STOCK FUND
FORM 13F INFORMATION TABLE
<C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
NAME OF ISSUER TITLE OF CUSIP MKT VAL SHRS/PRIN INV DISCRETION VOTING AUTHORITY (SHARES)
CLASS NUMBER SOLE SHRD OTHR MGR A-SOLE B-SHRC-NONE
AMDOCS LIMITED ORD G02602103 5,021,188 80,500 X 01 80,500 0 0
SANTA FE INTERNATIONAL CORP ORD G7805C108 25,956,000 576,000 X 01 576,000 0 0
TRANSOCEAN SEDCO FOREX INC ORD G90078109 9,648,209 164,575 X 01 164,575 0 0
CHECK POINT SOFTWARE ORD M22465104 15,057,000 95,600 X 01 95,600 0 0
FLEXTRONICS INTERNATIONAL ORD Y2573F102 8,448,527 102,874 X 01 102,874 0 0
AES CORP COM 00130H105 12,240,950 178,700 X 01 178,700 0 0
AMR CORP COM 001765106 5,524,188 169,000 X 01 169,000 0 0
AT&T CORP COM 001957208 7,799,400 433,300 X 01 433,300 0 0
AVX CORP COM 002444107 6,520,838 250,200 X 01 250,200 0 0
ADOBE SYSINC COM 00724F101 14,469,300 93,200 X 01 93,200 0 0
ADVANCED MICRO DEVICES INC COM 007903107 29,583,225 1,252,200 X 01 1,252,200 0 0
ADVENT SOFTWARE INC COM 007974108 7,993,700 114,400 X 01 114,400 0 0
ALBEMARLE CORP COM 012653101 3,048,313 151,000 X 01 151,000 0 0
ALLERGAN INC COM 018490102 9,946,738 117,800 X 01 117,800 0 0
ALLIANCE SEMICONDUCTOR CORP COM 01877H100 5,849,213 294,300 X 01 294,300 0 0
ALPHARMA INC CL A 020813101 6,130,838 100,300 X 01 100,300 0 0
ALTERA CORP COM 021441100 15,819,575 331,300 X 01 331,300 0 0
ALZA CORP COM 022615108 12,326,250 142,500 X 01 142,500 0 0
AMGEN INC COM 031162100 23,294,663 333,600 X 01 333,600 0 0
ANALOG DEVICES INC COM 032654105 37,565,938 455,000 X 01 455,000 0 0
ANDRX CORP COM 034553107 30,963,150 331,600 X 01 331,600 0 0
APACHE CORP COM 037411105 19,718,188 333,500 X 01 333,500 0 0
APPLIED MICRO CIRCUITS CORP COM 03822W109 42,696,288 206,200 X 01 206,200 0 0
APPLIED MATERIALS INC COM 038222105 7,010,738 118,200 X 01 118,200 0 0
ARIBA INC COM 04033V104 6,432,627 44,900 X 01 44,900 0 0
ART TECHNOLOGY GROUP INC COM 04289L107 4,718,550 49,800 X 01 49,800 0 0
ATMEL CORP COM 049513104 6,152,456 405,100 X 01 405,100 0 0
AVANEX CORP COM 05348W109 3,725,988 34,600 X 01 34,600 0 0
BJ SVCS CO COM 055482103 9,199,313 150,500 X 01 150,500 0 0
BANK NEW YORK INC COM 064057102 26,837,119 478,700 X 01 478,700 0 0
BEA SYS INC COM 073325102 45,237,588 580,900 X 01 580,900 0 0
BEST BUY CO INC COM 086516101 9,639,188 151,500 X 01 151,500 0 0
BOOKHAM TECHNOLOGY PLC ADR 09856Q108 5,187,875 121,000 X 01 121,000 0 0
BROCADE COMMUNICATIONS SYS ICOM 111621108 12,980,000 55,000 X 01 55,000 0 0
BURLINGTON RES INC COM 122014103 5,705,938 155,000 X 01 155,000 0 0
CALPINE CORP COM 131347106 11,982,250 114,800 X 01 114,800 0 0
CELESTICA INC SUB VTG SHS 15101Q108 17,568,725 253,700 X 01 253,700 0 0
CHARTER ONE FINL INC COM 160903100 365,991 15,015 X 01 15,015 0 0
CIENA CORP COM 171779101 12,576,000 102,400 X 01 102,400 0 0
CISCO SYS INC COM 17275R102 128,953,500 2,334,000 X 01 2,334,000 0 0
CITIGROUP INC COM 172967101 139,387,506 2,578,266 X 01 2,578,266 0 0
COASTAL CORP COM 190441105 13,260,963 178,900 X 01 178,900 0 0
COCA COLA CO COM 191216100 50,472,450 915,600 X 01 915,600 0 0
COHERENT INC COM 192479103 6,949,600 102,200 X 01 102,200 0 0
COMERICA INC COM 200340107 15,147,000 259,200 X 01 259,200 0 0
COMMERCE BANCORP INC COM 200519106 5,789,656 99,500 X 01 99,500 0 0
COMPAQ COMPUTER CORP COM 204493100 17,220,952 624,400 X 01 624,400 0 0
COOPER CAMERON CORP COM 216640102 13,735,350 186,400 X 01 186,400 0 0
CORNING INC COM 219350105 91,386,900 307,700 X 01 307,700 0 0
COUNTRYWIDE CR INDS INC COM 222372104 20,955,025 555,100 X 01 555,100 0 0
CREDENCE SYSTEMS CORP COM 225302108 7,347,000 244,900 X 01 244,900 0 0
CREE INC COM 225447101 6,812,250 58,600 X 01 58,600 0 0
CYPRESS SEMICONDUCTOR CORP COM 232806109 28,279,125 680,400 X 01 680,400 0 0
D.R.HORTON INC COM 23331A109 4,453,161 259,093 X 01 259,093 0 0
DELL COMPUTER CORP COM 247025109 19,837,088 643,800 X 01 643,800 0 0
DISNEY WALT CO COM 254687106 47,781,900 1,249,200 X 01 1,249,200 0 0
DUKE ENERGY CO COM 264399106 18,770,675 218,900 X 01 218,900 0 0
DYNEGY INC CL A 26816Q101 8,202,300 143,900 X 01 143,900 0 0
E M C CORP COM 268648102 115,738,350 1,167,600 X 01 1,167,600 0 0
EOG RESOURCES INC COM 26875P101 12,999,800 334,400 X 01 334,400 0 0
EDWARDS AG INC COM 281760108 7,004,644 133,900 X 01 133,900 0 0
EL PASO ENERGY CORP COM 283905107 12,540,688 203,500 X 01 203,500 0 0
EMULEX CORP COM 292475209 5,010,250 40,900 X 01 40,900 0 0
ENRON CORP COM 293561106 21,695,950 247,600 X 01 247,600 0 0
ENZON INC COM 293904108 18,862,800 285,800 X 01 285,800 0 0
EXAR CORP COM 300645108 5,327,279 43,600 X 01 43,600 0 0
EXODUS COMMUNICATIONS INC COM 302088109 38,887,750 787,600 X 01 787,600 0 0
EXTREME NETWORKS INC COM 30226D106 7,557,000 66,000 X 01 66,000 0 0
FPL GROUP INC COM 302571104 6,036,313 92,000 X 01 92,000 0 0
FEDERAL HOME LN MTG CORP COM 313400301 11,688,313 216,200 X 01 216,200 0 0
FEDERAL NATL MTG ASSN COM 313586109 17,746,300 248,200 X 01 248,200 0 0
FEDERATED INVS INC CL B 314211103 5,390,550 217,800 X 01 217,800 0 0
FINISAR CORP COM 31787A101 5,074,538 104,900 X 01 104,900 0 0
FOUNDRY NETWORKS INC COM 35063R100 3,574,463 53,400 X 01 53,400 0 0
FRANKLIN RES INC COM 354613101 7,495,341 168,700 X 01 168,700 0 0
GENENTECH INC COM 368710406 20,982,688 113,000 X 01 113,000 0 0
GENERAL ELEC CO COM 369604103 166,659,188 2,889,000 X 01 2,889,000 0 0
GLOBESPAN SEMICONDUCTOR INC COM 379571102 11,431,400 93,700 X 01 93,700 0 0
GOLDEN ST BANCORP INC COM 381197102 14,125,388 597,900 X 01 597,900 0 0
GOLDEN WEST FINL CORP COM 381317106 25,563,038 476,700 X 01 476,700 0 0
GOLDMAN SACHS GROUP INC COM 38141G104 15,427,138 135,400 X 01 135,400 0 0
HEALTH MGMT ASSOC CL A 421933102 21,205,856 1,018,900 X 01 1,018,900 0 0
HEWLETT PACKARD CO COM 428236103 28,857,500 297,500 X 01 297,500 0 0
HUMAN GENOME SCIENCES INC COM 444903108 38,572,250 222,800 X 01 222,800 0 0
INTEGRATED DEVICE TECHNOLOGYCOM 458118106 30,806,200 340,400 X 01 340,400 0 0
INTEL CORP COM 458140100 100,057,563 2,407,400 X 01 2,407,400 0 0
INTERNATIONAL BUSINESS MACHSCOM 459200101 89,640,000 796,800 X 01 796,800 0 0
INTERNATIONAL RECTIFIER CORPCOM 460254105 13,090,631 258,900 X 01 258,900 0 0
I2 TECHNOLOGIES INC COM 465754109 8,979,000 48,000 X 01 48,000 0 0
JABIL CIRCUIT INC COM 466313103 22,087,100 389,200 X 01 389,200 0 0
JUNIPER NETWORKS INC COM 48203R104 27,936,425 127,600 X 01 127,600 0 0
KLA TENCOR CORP COM 482480100 9,852,050 239,200 X 01 239,200 0 0
KEMET CORP COM 488360108 6,107,888 221,100 X 01 221,100 0 0
KERR MCGEE CORP COM 492386107 11,792,500 178,000 X 01 178,000 0 0
KEYSPAN CORP COM 49337W100 3,659,427 92,300 X 01 92,300 0 0
KING PHARMACEUTICALS INC COM 495582108 6,289,594 188,100 X 01 188,100 0 0
LSI LOGIC CORP COM 502161102 12,864,150 439,800 X 01 439,800 0 0
LATTICE SEMICONDUCTOR CORP COM 518415104 3,423,875 63,700 X 01 63,700 0 0
LEGG MASON INC COM 524901105 18,171,735 312,632 X 01 312,632 0 0
LEHMAN BROTHERS HLDGS INC COM 524908100 62,867,625 425,500 X 01 425,500 0 0
LENNAR CORP COM 526057104 4,886,563 164,600 X 01 164,600 0 0
LINCOLN NATL CORP COM 534187109 3,989,563 82,900 X 01 82,900 0 0
LINEAR TECHNOLOGY CORP COM 535678106 5,782,175 89,300 X 01 89,300 0 0
M & T BK CORP COM 55261F104 12,648,000 24,800 X 01 24,800 0 0
MBNA CORP COM 55262L100 21,640,850 562,100 X 01 562,100 0 0
MAXIM INTEGRATED PRODS INC COM 57772K101 12,186,281 151,500 X 01 151,500 0 0
MEDIMMUNE INC COM 584699102 4,480,500 58,000 X 01 58,000 0 0
MELLON FINL CORP COM 58551A108 25,645,375 553,000 X 01 553,000 0 0
MERCURY INTERACTIVE CORP COM 589405109 31,412,700 200,400 X 01 200,400 0 0
MERRILL LYNCH & CO INC COM 590188108 36,907,200 559,200 X 01 559,200 0 0
METTLER TOLEDO INTL INC COM 592688105 3,943,808 87,700 X 01 87,700 0 0
MICREL INC COM 594793101 29,413,000 439,000 X 01 439,000 0 0
MICROSOFT CORP COM 594918104 48,252,111 800,035 X 01 800,035 0 0
MICROCHIP TECHNOLOGY INC COM 595017104 7,788,698 235,575 X 01 235,575 0 0
MICROMUSE INC COM 595094103 22,223,688 110,600 X 01 110,600 0 0
MICRON TECHNOLOGY INC COM 595112103 26,404,000 574,000 X 01 574,000 0 0
MILLENNIUM PHARMACEUTICALS COM 599902103 30,439,425 208,400 X 01 208,400 0 0
MORGAN STANLEY DEAN WITTER &COM 617446448 55,575,713 607,800 X 01 607,800 0 0
MYRIAD GENETICS INC COM 62855J104 3,325,438 38,500 X 01 38,500 0 0
NRG ENERGY INC COM 629377102 10,537,550 288,700 X 01 288,700 0 0
NATIONAL SEMICONDUCTOR CORP COM 637640103 23,336,950 579,800 X 01 579,800 0 0
NETWORK APPLIANCE INC COM 64120L104 27,563,950 216,400 X 01 216,400 0 0
NEW FOCUS INC COM 644383101 3,455,031 43,700 X 01 43,700 0 0
NEWPORT CORP COM 651824104 14,174,641 89,000 X 01 89,000 0 0
NOBLE DRILLING CORP COM 655042109 18,366,375 365,500 X 01 365,500 0 0
NORTEL NETWORKS CORP COM 656568102 96,294,694 1,616,700 X 01 1,616,700 0 0
NOVELLUS SYS INC COM 670008101 4,497,938 96,600 X 01 96,600 0 0
NVIDIA CORP COM 67066G104 18,896,750 230,800 X 01 230,800 0 0
OSI PHARMACEUTICALS INC COM 671040103 6,160,000 88,000 X 01 88,000 0 0
ONI SYS CORP COM 68273F103 5,316,850 61,600 X 01 61,600 0 0
ORACLE CORP COM 68389X105 78,899,625 1,001,900 X 01 1,001,900 0 0
OXFORD HEALTH PLANS INC COM 691471106 4,391,942 142,900 X 01 142,900 0 0
PC CONNECTION INC COM 69318J100 7,968,600 139,800 X 01 139,800 0 0
PECO ENERGY CO COM 693304107 6,389,344 105,500 X 01 105,500 0 0
PE CORP COM 69332S102 8,562,750 73,500 X 01 73,500 0 0
PMC SIERRA INC COM 69344F106 31,448,025 146,100 X 01 146,100 0 0
PNC FINL SVCS GROUP INC COM 693475105 10,991,500 169,100 X 01 169,100 0 0
PALM INC COM 696642107 7,014,219 132,500 X 01 132,500 0 0
PARADYNE NETWORKS INC COM 69911G107 883,922 163,500 X 01 163,500 0 0
PEPSI BOTTLING GROUP INC COM 713409100 13,681,444 455,100 X 01 455,100 0 0
PEPSICO INC COM 713448108 32,154,000 699,000 X 01 699,000 0 0
PERKINELMER INC COM 714046109 18,119,500 173,600 X 01 173,600 0 0
PIER 1 IMPORTS INC COM 720279108 6,412,350 472,800 X 01 472,800 0 0
PREMIER NATL BANCORP INC COM 74053F107 2,633,513 130,050 X 01 130,050 0 0
PRICE T ROWE & ASSOC INC COM 741477103 6,369,419 135,700 X 01 135,700 0 0
PRIMUS TELECOMM GROUP INC COM 741929103 1,704,300 179,400 X 01 179,400 0 0
PROXIM INC COM 744284100 14,070,900 316,200 X 01 316,200 0 0
PULTE CORP COM 745867101 4,695,900 142,300 X 01 142,300 0 0
QLOGIC CORP COM 747277101 10,524,800 119,600 X 01 119,600 0 0
QUALCOMM INC COM 747525103 8,913,375 125,100 X 01 125,100 0 0
R & B FALCON CORP COM 74912E101 16,532,663 593,100 X 01 593,100 0 0
QWEST COMMUNICATIONS INTL INCOM 749121109 39,538,520 822,648 X 01 822,648 0 0
RAMBUS INC COM 750917106 5,730,863 72,600 X 01 72,600 0 0
RATIONAL SOFTWARE CORP COM 75409P202 15,123,750 218,000 X 01 218,000 0 0
REDBACK NETWORKS INC COM 757209101 6,510,800 39,700 X 01 39,700 0 0
RELIANT ENERGY INC COM 75952J108 10,341,600 222,400 X 01 222,400 0 0
RESEARCH IN MOTION LTD COM 760975102 12,123,188 123,000 X 01 123,000 0 0
SCI SYS INC COM 783890106 24,821,400 605,400 X 01 605,400 0 0
SDL INC COM 784076101 32,508,744 105,100 X 01 105,100 0 0
SAGA SYS INC COM 786610105 3,537,450 336,900 X 01 336,900 0 0
SANDISK CORP COM 80004C101 5,580,300 83,600 X 01 83,600 0 0
SANMINA CORP COM 800907107 13,144,950 140,400 X 01 140,400 0 0
SCHLUMBERGER LTD COM 806857108 23,813,006 289,300 X 01 289,300 0 0
SCHWAB CHARLES CORP COM 808513105 28,065,626 790,581 X 01 790,581 0 0
SCIENTIFIC ATLANTA INC COM 808655104 25,348,200 398,400 X 01 398,400 0 0
SEMTECH CORP COM 816850101 20,260,125 469,800 X 01 469,800 0 0
SEPRACOR INC COM 817315104 16,072,063 131,000 X 01 131,000 0 0
SIEBEL SYS INC COM 826170102 21,104,850 189,600 X 01 189,600 0 0
SILICON IMAGE INC COM 82705T102 6,550,500 264,000 X 01 264,000 0 0
SILICON VY BANCSHARES COM 827064106 7,058,006 121,200 X 01 121,200 0 0
SOUTHDOWN INC COM 841297104 5,087,250 71,400 X 01 71,400 0 0
STARBUCKSCORP COM 855244109 5,664,838 141,400 X 01 141,400 0 0
STARWOOD HOTELS & RESORTS COM 85590A203 3,509,375 112,300 X 01 112,300 0 0
STATE STREET CORPORATION COM 857477103 9,373,000 72,100 X 01 72,100 0 0
SUN MICROSYSTEMS INC COM 866810104 78,479,350 672,200 X 01 672,200 0 0
SYCAMORE NETWORKS INC COM 871206108 3,844,800 35,600 X 01 35,600 0 0
SYMANTEC CORP COM 871503108 5,640,800 128,200 X 01 128,200 0 0
TCF FINANCIAL CORP COM 872275102 24,128,913 641,300 X 01 641,300 0 0
TALISMAN ENERGY INC COM 87425E103 13,165,969 375,500 X 01 375,500 0 0
TENET HEALTHCARE CORP COM 88033G100 20,289,975 557,800 X 01 557,800 0 0
TERADYNE INC COM 880770102 9,751,000 278,600 X 01 278,600 0 0
TEVA PHARMACEUTICAL INDS LTDADR 881624209 10,743,925 146,800 X 01 146,800 0 0
TEXAS INSTRS INC COM 882508104 25,995,594 550,900 X 01 550,900 0 0
TIBCO SOFTWARE INC COM 88632Q103 6,864,769 81,300 X 01 81,300 0 0
TOLL BROS INC COM 889478103 5,029,063 146,300 X 01 146,300 0 0
TRANSWITCH CORP COM 894065101 21,936,375 344,100 X 01 344,100 0 0
UNITED STATIONERS INC COM 913004107 5,719,000 212,800 X 01 212,800 0 0
UNIVERSALHEALTH SVCS INC CL B 913903100 5,454,313 63,700 X 01 63,700 0 0
VARIAN INC COM 922206107 1,438,584 33,500 X 01 33,500 0 0
VARIAN SEMICONDUCTOR EQUIP ICOM 922207105 3,032,438 81,000 X 01 81,000 0 0
VENATOR GROUP INC COM 922944103 6,860,700 554,400 X 01 554,400 0 0
VERISIGN INC COM 92343E102 6,608,602 32,625 X 01 32,625 0 0
VERTEX PHARMACEUTICALS INC COM 92532F100 11,677,900 138,200 X 01 138,200 0 0
VIACOM INC CL B 925524308 28,656,986 489,863 X 01 489,863 0 0
VISHAY INTERTECHNOLOGY INC COM 928298108 7,665,975 249,300 X 01 249,300 0 0
VITRIA TECHNOLOGY INC COM 92849Q104 4,247,538 91,100 X 01 91,100 0 0
WASHINGTON MUT INC COM 939322103 28,601,300 718,400 X 01 718,400 0 0
WATERS CORP COM 941848103 2,357,451 27,000 X 01 27,000 0 0
WEATHERFORD INTL INC COM 947074100 14,164,200 329,400 X 01 329,400 0 0
XILINX INC COM 983919101 21,474,750 250,800 X 01 250,800 0 0
YAHOO INC COM 984332106 9,655,100 106,100 X 01 106,100 0 0
3,891,026,619
201 ITEMS
</TABLE>
<TABLE>
THE GUARDIAN PARK AVENUE SMALL CAP FUND
FORM 13F INFORMATION TABLE
<C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
NAME OF ISSUER TITLE OF CUSIP MKT VAL SHRS/PRIN INV DISCRETION VOTING AUTHORITY (SHARES)
CLASS NUMBER SOLE SHRD OTHR MGR A-SOLE B-SHRDC-NONE
APW LTD COM G04397108 945,750 19,400 X 01 19,400 0 0
MARVELL TECHNOLOGY GROUP LTD ORD G5876H105 856,088 11,100 X 01 11,100 0 0
OPENTV CORP CL A G67543101 887,775 26,700 X 01 26,700 0 0
PARTNERRE LTD COM G6852T105 825,413 17,400 X 01 17,400 0 0
SANTA FE INTERNATIONAL CORP ORD G7805C108 748,038 16,600 X 01 16,600 0 0
AUDIO CODES LTD ORD M15342104 655,463 7,700 X 01 7,700 0 0
METALINK LTD ORD M69897102 436,600 23,600 X 01 23,600 0 0
M SYS FLASH DISK PIONEERS LTD ORD M7061C100 672,100 17,600 X 01 17,600 0 0
FLEXTRONICS INTERNATIONAL ORD Y2573F102 1,840,586 22,412 X 01 22,412 0 0
ACCELERATED NETWORKS INC COM 00429P107 470,813 27,900 X 01 27,900 0 0
ADVANCED MICRO DEVICES INC COM 007903107 706,388 29,900 X 01 29,900 0 0
AETHER SYSTEMS INC COM 00808V105 495,850 4,700 X 01 4,700 0 0
AFFILIATED MANAGERS GROUP INC COM 008252108 643,394 11,300 X 01 11,300 0 0
AGILE SOFTWARE CORP COM 00846X105 980,319 10,900 X 01 10,900 0 0
ALLERGAN INC COM 018490102 675,500 8,000 X 01 8,000 0 0
ALLMERICA FINL CORP COM 019754100 549,863 8,600 X 01 8,600 0 0
ALPHARMA INC CL A 020813101 1,130,813 18,500 X 01 18,500 0 0
AMERICAN CAP STRATEGIES LTD COM 024937104 613,506 25,900 X 01 25,900 0 0
AMERICAN TOWER CORP CL A 029912201 471,094 12,500 X 01 12,500 0 0
AMPHENOL CORP COM 032095101 626,313 11,000 X 01 11,000 0 0
ANDRX CORP COM 034553107 1,241,888 13,300 X 01 13,300 0 0
APPLIED MICRO CIRCUITS CORP COM 03822W109 3,747,831 18,100 X 01 18,100 0 0
ARENA PHARMACEUTICALS INC COM 040047102 1,135,200 26,400 X 01 26,400 0 0
ATLANTIC COAST AIRLINES HLDGS COM 048396105 453,844 14,100 X 01 14,100 0 0
AVANEX CORP COM 05348W109 581,513 5,400 X 01 5,400 0 0
AVICI SYSINC COM 05367L109 418,550 4,400 X 01 4,400 0 0
BJS WHSL CLUB INC COM 05548J106 996,450 29,200 X 01 29,200 0 0
BJ SVCS CO COM 055482103 1,570,913 25,700 X 01 25,700 0 0
BANK UTD CORP CL A 065412108 714,694 14,100 X 01 14,100 0 0
BANKNORTHGROUP INC COM 06646R107 607,750 34,000 X 01 34,000 0 0
BARR LABS INC COM 068306109 470,819 7,100 X 01 7,100 0 0
BEA SYS INC COM 073325102 1,121,400 14,400 X 01 14,400 0 0
BIOVAIL CORP COM 09067J109 1,099,406 13,500 X 01 13,500 0 0
BLACKROCK INC CL A 09247X101 688,000 21,500 X 01 21,500 0 0
BLUE MARTINI SOFTWARE INC COM 095698106 406,500 12,000 X 01 12,000 0 0
BOOKHAM TECHNOLOGY PLC ADR 09856Q108 540,225 12,600 X 01 12,600 0 0
BURLINGTON RES INC COM 122014103 736,250 20,000 X 01 20,000 0 0
CMS ENERGY CORP COM 125896100 598,013 22,200 X 01 22,200 0 0
CABOT CORP COM 127055101 624,244 19,700 X 01 19,700 0 0
CABOT MICROELECTRONICS CORP COM 12709P103 556,800 11,600 X 01 11,600 0 0
CALPINE CORP COM 131347106 1,544,750 14,800 X 01 14,800 0 0
CELGENE CORP COM 151020104 618,800 10,400 X 01 10,400 0 0
CENTILLIUM COMMUNICATIONS INC COM 152319109 1,286,400 13,400 X 01 13,400 0 0
CHARTER COMMUNICATIONS INC CL A 16117M107 940,153 57,800 X 01 57,800 0 0
COHERENT INC COM 192479103 510,000 7,500 X 01 7,500 0 0
COMERICA INC COM 200340107 970,063 16,600 X 01 16,600 0 0
COMMERCE BANCORP INC COM 200519106 997,334 17,140 X 01 17,140 0 0
COMMSCOPE INC COM 203372107 637,000 26,000 X 01 26,000 0 0
COOPER CAMERON CORP COM 216640102 729,506 9,900 X 01 9,900 0 0
COORS ADOLPH CO CL B 217016104 1,042,594 16,500 X 01 16,500 0 0
CORVIS CORP COM 221009103 445,642 7,300 X 01 7,300 0 0
COUNTRYWIDE CR INDS INC COM 222372104 939,975 24,900 X 01 24,900 0 0
COX RADIO INC CL A 224051102 924,188 53,000 X 01 53,000 0 0
CREE INC COM 225447101 860,250 7,400 X 01 7,400 0 0
CRITICAL PATH INC COM 22674V100 935,550 15,400 X 01 15,400 0 0
CROWN CASTLE INTL CORP COM 228227104 447,300 14,400 X 01 14,400 0 0
CYPRESS SEMICONDUCTOR CORP COM 232806109 648,375 15,600 X 01 15,600 0 0
CYTYC CORP COM 232946103 668,438 15,500 X 01 15,500 0 0
DDI CORPORATION COM 233162106 1,172,625 26,500 X 01 26,500 0 0
D.R.HORTON INC COM 23331A109 288,509 16,786 X 01 16,786 0 0
DAL TILE INTL INC COM 23426R108 693,750 55,500 X 01 55,500 0 0
DIGITAL INSIGHT CORP COM 25385P106 699,563 19,500 X 01 19,500 0 0
EDUCATION MGMT CORP COM 28139T101 576,463 21,400 X 01 21,400 0 0
EMULEX CORP COM 292475209 1,408,750 11,500 X 01 11,500 0 0
ENERGY EAST CORP COM 29266M109 748,888 33,100 X 01 33,100 0 0
ENTRAVISION COM CORP CL A 29382R107 868,750 50,000 X 01 50,000 0 0
ENZON INC COM 293904108 877,800 13,300 X 01 13,300 0 0
EQUITABLE RES INC COM 294549100 589,388 9,300 X 01 9,300 0 0
EXAR CORP COM 300645108 1,397,550 11,550 X 01 11,550 0 0
EXFO ELECTRO OPTICAL ENGR INC SUB VTG SHS 302043104 453,050 10,400 X 01 10,400 0 0
EXODUS COMMUNICATIONS INC COM 302088109 1,466,438 29,700 X 01 29,700 0 0
FINISAR CORP COM 31787A101 1,431,900 29,600 X 01 29,600 0 0
FIRST HEALTH GROUP CORP COM 320960107 648,225 20,100 X 01 20,100 0 0
FIRST TENN NATL CORP COM 337162101 860,419 42,100 X 01 42,100 0 0
GENOMIC SOLUTIONS INC COM 37243R109 529,375 30,800 X 01 30,800 0 0
GLOBESPAN SEMICONDUCTOR INC COM 379571102 695,400 5,700 X 01 5,700 0 0
GOLDEN ST BANCORP INC COM 381197102 985,163 41,700 X 01 41,700 0 0
GOLDEN WEST FINL CORP COM 381317106 900,900 16,800 X 01 16,800 0 0
HEALTH MGMT ASSOC CL A 421933102 1,469,363 70,600 X 01 70,600 0 0
HENRY JACK & ASSOC INC COM 426281101 876,175 20,200 X 01 20,200 0 0
HUDSON UTD BANCORP COM 444165104 709,963 25,700 X 01 25,700 0 0
HUMAN GENOME SCIENCES INC COM 444903108 692,500 4,000 X 01 4,000 0 0
ICN PHARMACEUTICALS INC COM 448924100 784,700 23,600 X 01 23,600 0 0
IDEC PHARMACEUTICALS CORP COM 449370105 1,052,156 6,000 X 01 6,000 0 0
IMAX CORP COM 45245E109 440,375 26,000 X 01 26,000 0 0
INET TECHNOLOGIES INC COM 45662V105 567,450 19,400 X 01 19,400 0 0
INFORMATICA CORP COM 45666Q102 839,250 9,000 X 01 9,000 0 0
INSIGHT ENTERPRISES INC COM 45765U103 482,325 17,700 X 01 17,700 0 0
INTEGRATED DEVICE TECHNOLOGY COM 458118106 1,185,550 13,100 X 01 13,100 0 0
INTERGRATED TELECOM EXPRESS COM 45817U101 757,375 36,500 X 01 36,500 0 0
THE INTERCEPT GROUP INC COM 45845L107 463,919 19,900 X 01 19,900 0 0
INTERNATIONAL RECTIFIER CORP COM 460254105 606,750 12,000 X 01 12,000 0 0
INTERSIL HLDG CORP CL A 46069S109 947,625 19,000 X 01 19,000 0 0
INTERWOVEN INC COM 46114T102 1,786,388 15,800 X 01 15,800 0 0
INVESTMENT TECHNOLOGY GROUP COM 46145F105 283,556 7,100 X 01 7,100 0 0
IVAX CORP COM 465823102 1,998,700 43,450 X 01 43,450 0 0
JNI CORP COM 46622G105 1,424,000 16,000 X 01 16,000 0 0
JUNIPER NETWORKS INC COM 48203R104 1,444,988 6,600 X 01 6,600 0 0
KLA TENCOR CORP COM 482480100 889,650 21,600 X 01 21,600 0 0
K V PHARMACEUTICAL COMPANY CL A 482740206 1,048,481 29,850 X 01 29,850 0 0
KEEBLER FOODS CO COM 487256109 756,000 18,000 X 01 18,000 0 0
KING PHARMACEUTICALS INC COM 495582108 1,650,743 49,368 X 01 49,368 0 0
LABORATORY CORP AMER HLDGS COM 50540R409 771,190 6,440 X 01 6,440 0 0
LAMAR ADVERTISING CO CL A 512815101 556,763 14,700 X 01 14,700 0 0
LATTICE SEMICONDUCTOR CORP COM 518415104 607,375 11,300 X 01 11,300 0 0
LEARNING TREE INTL INC COM 522015106 519,113 10,900 X 01 10,900 0 0
LEGG MASON INC COM 524901105 726,563 12,500 X 01 12,500 0 0
LENNAR CORP COM 526057104 314,688 10,600 X 01 10,600 0 0
LEXENT INC COM 52886Q102 949,025 31,900 X 01 31,900 0 0
LOUIS DREYFUS NAT GAS CORP COM 546011107 733,063 18,500 X 01 18,500 0 0
LUBRIZOL CORP COM 549271104 433,125 22,000 X 01 22,000 0 0
MMC NETWORKS INC COM 55308N102 695,750 5,500 X 01 5,500 0 0
MRV COMMUNICATIONS INC COM 553477100 453,125 10,000 X 01 10,000 0 0
MACROMEDIA INC COM 556100105 905,100 11,200 X 01 11,200 0 0
MCCORMICK & CO INC COM NON VTG 579780206 654,500 22,000 X 01 22,000 0 0
MEDICIS PHARMACEUTICAL CORP CL A 584690309 1,002,450 16,300 X 01 16,300 0 0
MERCANTILE BANKSHARES CORP COM 587405101 914,681 25,200 X 01 25,200 0 0
MERCURY INTERACTIVE CORP COM 589405109 1,097,250 7,000 X 01 7,000 0 0
METASOLV SOFTWARE INC COM 591393103 715,313 17,500 X 01 17,500 0 0
METRICOM INC COM 591596101 605,125 23,500 X 01 23,500 0 0
METTLER TOLEDO INTL INC COM 592688105 739,200 16,800 X 01 16,800 0 0
MICREL INC COM 594793101 844,200 12,600 X 01 12,600 0 0
MICROMUSEINC COM 595094103 1,024,781 5,100 X 01 5,100 0 0
MILLENNIUM PHARMACEUTICALS COM 599902103 993,225 6,800 X 01 6,800 0 0
MILLIPORECORP COM 601073109 523,125 10,800 X 01 10,800 0 0
MONDAVI ROBERT CORP CL A 609200100 774,919 18,500 X 01 18,500 0 0
MYLAN LABS INC COM 628530107 1,045,175 38,800 X 01 38,800 0 0
NRG ENERGY INC COM 629377102 1,073,100 29,400 X 01 29,400 0 0
NATIONAL FUEL GAS CO COM 636180101 414,863 7,400 X 01 7,400 0 0
NEOPHARM INC COM 640919106 932,200 23,600 X 01 23,600 0 0
NETRO CORP COM 64114R109 995,400 16,800 X 01 16,800 0 0
NETWORK APPLIANCE INC COM 64120L104 2,700,350 21,200 X 01 21,200 0 0
NEUBERGERBERMAN INC COM 641234109 258,300 4,200 X 01 4,200 0 0
NEW FOCUS INC COM 644383101 687,844 8,700 X 01 8,700 0 0
NEWPORT NEWS SHIPBUILDING INC COM 652228107 572,550 13,200 X 01 13,200 0 0
NORTH FORK BANCORPORATION INC COM 659424105 856,350 39,600 X 01 39,600 0 0
NUANCE COMMUNICATIONS COM 669967101 851,813 7,000 X 01 7,000 0 0
NUMERICALTECHNOLOGIES INC COM 67053T101 605,063 21,000 X 01 21,000 0 0
NVIDIA CORP COM 67066G104 1,031,625 12,600 X 01 12,600 0 0
NYFIX INC COM 670712108 250,764 5,600 X 01 5,600 0 0
ON SEMICONDUCTOR CORP COM 682189105 118,538 10,900 X 01 10,900 0 0
ONI SYS CORP COM 68273F103 638,713 7,400 X 01 7,400 0 0
OPNET TECHNOLOGIES INC COM 683757108 638,750 17,500 X 01 17,500 0 0
PMC SIERRA INC COM 69344F106 1,068,824 4,966 X 01 4,966 0 0
PMI GROUP INC COM 69344M101 894,300 13,200 X 01 13,200 0 0
PANAMSAT CORP COM 697933109 552,519 17,300 X 01 17,300 0 0
PEMSTAR INC COM 706552106 978,469 49,700 X 01 49,700 0 0
PERKINELMER INC COM 714046109 876,750 8,400 X 01 8,400 0 0
PHARMACOPEIA INC COM 71713B104 708,900 27,800 X 01 27,800 0 0
PHONE COM INC COM 71920Q100 749,925 6,600 X 01 6,600 0 0
PINNACLE HLDGS INC COM 72346N101 266,250 10,000 X 01 10,000 0 0
PLEXUS CORP COM 729132100 2,058,600 29,200 X 01 29,200 0 0
POLYMEDICA CORP COM 731738100 621,688 14,500 X 01 14,500 0 0
PORTAL SOFTWARE INC COM 736126103 564,000 14,100 X 01 14,100 0 0
PRAECIS PHARMACEUTICALS INC COM 739421105 807,500 19,000 X 01 19,000 0 0
PROVINCE HEALTHCARE CO COM 743977100 766,800 19,200 X 01 19,200 0 0
PULTE CORP COM 745867101 303,600 9,200 X 01 9,200 0 0
QLOGIC CORP COM 747277101 2,076,800 23,600 X 01 23,600 0 0
QUEENS CNTY BANCORP COM 748242104 872,025 30,200 X 01 30,200 0 0
RADISYS CORP COM 750459109 556,188 11,000 X 01 11,000 0 0
RATIONAL SOFTWARE CORP COM 75409P202 832,500 12,000 X 01 12,000 0 0
RAYMOND JAMES FINANCIAL INC COM 754730109 846,494 25,700 X 01 25,700 0 0
REDBACK NETWORKS INC COM 757209101 1,197,200 7,300 X 01 7,300 0 0
REINSURANCE GROUP AMER INC COM 759351109 1,013,800 29,600 X 01 29,600 0 0
SCI SYS INC COM 783890106 738,000 18,000 X 01 18,000 0 0
SDL INC COM 784076101 1,422,838 4,600 X 01 4,600 0 0
SANDISK CORP COM 80004C101 660,825 9,900 X 01 9,900 0 0
SANMINA CORP COM 800907107 917,525 9,800 X 01 9,800 0 0
SCIENTIFIC ATLANTA INC COM 808655104 661,700 10,400 X 01 10,400 0 0
SELECTICA INC COM 816288104 717,750 18,000 X 01 18,000 0 0
SEMTECH CORP COM 816850101 715,875 16,600 X 01 16,600 0 0
SEPRACOR INC COM 817315104 564,363 4,600 X 01 4,600 0 0
SILICON LABORATORIES COM 826919102 446,900 10,900 X 01 10,900 0 0
SILICON IMAGE INC COM 82705T102 744,375 30,000 X 01 30,000 0 0
SILICON VY BANCSHARES COM 827064106 1,292,803 22,200 X 01 22,200 0 0
SMITH INTL INC COM 832110100 570,938 7,000 X 01 7,000 0 0
SOUTHDOWN INC COM 841297104 1,054,500 14,800 X 01 14,800 0 0
SOUTHTRUST CORP COM 844730101 785,938 25,000 X 01 25,000 0 0
SOUTHWEST BANCORPORATION COM 84476R109 954,475 29,200 X 01 29,200 0 0
SPECTRASITE HLDGS INC COM 84760T100 464,063 25,000 X 01 25,000 0 0
SPEECHWORKS INTL INC COM 84764M101 725,400 11,700 X 01 11,700 0 0
SPINNAKER EXPL CO COM 84855W109 634,725 18,200 X 01 18,200 0 0
STATION CASINOS INC COM 857689103 428,925 30,100 X 01 30,100 0 0
STONE ENERGY CORP COM 861642106 511,500 9,300 X 01 9,300 0 0
STRATOS LIGHTWAVE INC COM 863100103 586,950 18,200 X 01 18,200 0 0
SUNRISE TELECOM INC COM 86769Y105 484,050 16,800 X 01 16,800 0 0
SWIFT TRANSN INC COM 870756103 370,975 28,400 X 01 28,400 0 0
SYCAMORE NETWORKS INC COM 871206108 1,296,000 12,000 X 01 12,000 0 0
SYMYX TECHNOLOGIES INC COM 87155S108 494,475 11,400 X 01 11,400 0 0
TCF FINANCIAL CORP COM 872275102 842,800 22,400 X 01 22,400 0 0
TVIA INC COM 87307P101 722,881 40,300 X 01 40,300 0 0
TALARIAN CORP COM 874090103 587,138 30,600 X 01 30,600 0 0
TELECOMMUNICATION SYS INC CL A 87929J103 699,975 36,600 X 01 36,600 0 0
TENET HEALTHCARE CORP COM 88033G100 763,875 21,000 X 01 21,000 0 0
TEVA PHARMACEUTICAL INDS LTD ADR 881624209 1,507,663 20,600 X 01 20,600 0 0
TIBCO SOFTWARE INC COM 88632Q103 667,056 7,900 X 01 7,900 0 0
TOLL BROS INC COM 889478103 326,563 9,500 X 01 9,500 0 0
TRANSWITCH CORP COM 894065101 2,027,250 31,800 X 01 31,800 0 0
TRIAD GTY INC COM 895925105 651,525 21,900 X 01 21,900 0 0
TRIQUINT SEMICONDUCTOR INC COM 89674K103 695,956 19,100 X 01 19,100 0 0
TURNSTONESYS INC COM 900423104 463,750 10,000 X 01 10,000 0 0
ULTICOM INC COM 903844108 852,963 18,100 X 01 18,100 0 0
UNITED STATIONERS INC COM 913004107 774,000 28,800 X 01 28,800 0 0
UNIVERSALHEALTH SVCS INC CL B 913903100 881,938 10,300 X 01 10,300 0 0
US FREIGHTWAYS CORP COM 916906100 421,988 18,600 X 01 18,600 0 0
VARIAGENICS INC COM 922196100 749,563 33,500 X 01 33,500 0 0
VARIAN INC COM 922206107 1,029,194 23,900 X 01 23,900 0 0
VARIAN SEMICONDUCTOR EQUIP INC COM 922207105 524,125 14,000 X 01 14,000 0 0
VERISIGN INC COM 92343E102 1,215,375 6,000 X 01 6,000 0 0
VERITAS DGC INC COM 92343P107 659,775 22,800 X 01 22,800 0 0
VIRATA CORP COM 927646109 1,481,200 22,400 X 01 22,400 0 0
VITRIA TECHNOLOGY INC COM 92849Q104 634,100 13,600 X 01 13,600 0 0
WJ COMMUNICATION INC COM 929284107 673,400 18,200 X 01 18,200 0 0
WADDELL & REED FINL INC CL A 930059100 613,800 19,800 X 01 19,800 0 0
WATCHGUARD TECHNOLOGIES INC COM 941105108 906,000 15,100 X 01 15,100 0 0
WATERS CORP COM 941848103 836,600 9,400 X 01 9,400 0 0
WEATHERFORD INTL INC COM 947074100 713,800 16,600 X 01 16,600 0 0
WEBMETHODS INC COM 94768C108 495,038 4,300 X 01 4,300 0 0
WERNER ENTERPRISES INC COM 950755108 465,300 39,600 X 01 39,600 0 0
WINTRUST FINL CORP COM 97650W108 433,500 25,500 X 01 25,500 0 0
XM SATELLITE RADIO HLDGS INC CL A 983759101 908,619 21,100 X 01 21,100 0 0
XILINX INC COM 983919101 1,712,500 20,000 X 01 20,000 0 0
ZALE CORP COM 988858106 801,206 24,700 X 01 24,700 0 0
184,963,597
223 ITEMS
</TABLE>
<TABLE>
THE GUARDIAN SMALL CAP STOCK FUND
FORM 13F INFORMATION TABLE
<C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
NAME OF ISSUER TITLE OF CUSIP MKT VAL SHRS/PRIN INV DISCRETION VOTING AUTHORITY (SHARES)
CLASS NUMBER SOLE SHRDOTHRMGR A-SOLE B-SHRDC-NONE
APW LTD COM G04397108 1,647,750 33,800 X 01 33,800 0 0
MARVELL TECHNOLOGY GROUP LTD ORD G5876H105 1,457,663 18,900 X 01 18,900 0 0
OPENTV CORP CL A G67543101 1,549,450 46,600 X 01 46,600 0 0
PARTNERR ELTD COM G6852T105 1,442,100 30,400 X 01 30,400 0 0
SANTA FE INTERNATIONAL CORP ORD G7805C108 1,302,306 28,900 X 01 28,900 0 0
AUDIO CODES LTD ORD M15342104 1,123,650 13,200 X 01 13,200 0 0
METALINK LTD ORD M69897102 765,900 41,400 X 01 41,400 0 0
M SYS FLASH DISK PIONEERS LTD ORD M7061C100 1,176,175 30,800 X 01 30,800 0 0
FLEXTRONICS INTERNATIONAL ORD Y2573F102 3,195,977 38,916 X 01 38,916 0 0
ACCELERATED NETWORKS INC COM 00429P107 820,125 48,600 X 01 48,600 0 0
ADVANCED MICRO DEVICES INC COM 007903107 1,228,500 52,000 X 01 52,000 0 0
AETHER SYSTEMS INC COM 00808V105 791,250 7,500 X 01 7,500 0 0
AFFILIATED MANAGERS GROUP INC COM 008252108 1,121,669 19,700 X 01 19,700 0 0
AGILE SOFTWARE CORP COM 00846X105 1,708,813 19,000 X 01 19,000 0 0
ALLERGAN INC COM 018490102 1,199,013 14,200 X 01 14,200 0 0
ALLMERICA FINL CORP COM 019754100 959,063 15,000 X 01 15,000 0 0
ALPHARMA INC CL A 020813101 1,956,000 32,000 X 01 32,000 0 0
AMERICAN CAP STRATEGIES LTD COM 024937104 1,061,200 44,800 X 01 44,800 0 0
AMERICAN TOWER CORP CL A 029912201 810,281 21,500 X 01 21,500 0 0
AMPHENOL CORP CL A 032095101 1,081,813 19,000 X 01 19,000 0 0
ANDRX CORP COM 034553107 2,166,300 23,200 X 01 23,200 0 0
APPLIED MICRO CIRCUITS CORP COM 03822W109 6,543,175 31,600 X 01 31,600 0 0
ARENA PHARMACEUTICALS INC COM 040047102 1,973,700 45,900 X 01 45,900 0 0
ATLANTIC COAST AIRLINES HLDGS COM 048396105 788,594 24,500 X 01 24,500 0 0
AVANEX CORP COM 05348W109 1,033,800 9,600 X 01 9,600 0 0
AVICI SYS INC COM 05367L109 722,950 7,600 X 01 7,600 0 0
BJS WHSL CLUB INC COM 05548J106 1,808,625 53,000 X 01 53,000 0 0
BJ SVCS CO COM 055482103 2,756,738 45,100 X 01 45,100 0 0
BANK UTD CORP CL A 065412108 1,241,844 24,500 X 01 24,500 0 0
BANKNORTHGROUP INC COM 06646R107 1,061,775 59,400 X 01 59,400 0 0
BARR LABS INC COM 068306109 815,644 12,300 X 01 12,300 0 0
BEA SYS INC COM 073325102 1,978,025 25,400 X 01 25,400 0 0
BIOVAIL CORP COM 09067J109 1,905,638 23,400 X 01 23,400 0 0
BLACKROCK INC CL A 09247X101 1,196,800 37,400 X 01 37,400 0 0
BLUE MARTINI SOFTWARE INC COM 095698106 711,375 21,000 X 01 21,000 0 0
BOOKHAM TECHNOLOGY PLC ADR 09856Q108 960,400 22,400 X 01 22,400 0 0
BURLINGTON RES INC COM 122014103 1,281,075 34,800 X 01 34,800 0 0
CMS ENERGY CORP COM 125896100 1,037,094 38,500 X 01 38,500 0 0
CABOT CORP COM 127055101 1,080,544 34,100 X 01 34,100 0 0
CABOT MICROELECTRONICS CORP COM 12709P103 964,800 20,100 X 01 20,100 0 0
CALPINE CORP COM 131347106 2,776,375 26,600 X 01 26,600 0 0
CELGENE CORP COM 151020104 1,076,950 18,100 X 01 18,100 0 0
CENTILLIUM COMMUNICATIONS INC COM 152319109 2,217,600 23,100 X 01 23,100 0 0
CHARTER COMMUNICATIONS INC CL A 16117M107 1,634,695 100,500 X 01 100,500 0 0
COHERENT INC COM 192479103 884,000 13,000 X 01 13,000 0 0
COMERICA INC COM 200340107 1,764,813 30,200 X 01 30,200 0 0
COMMERCE BANCORP INC COM 200519106 1,820,687 31,290 X 01 31,290 0 0
COMMSCOPE INC COM 203372107 1,078,000 44,000 X 01 44,000 0 0
COOPER CAMERON CORP COM 216640102 1,267,425 17,200 X 01 17,200 0 0
COORS ADOLPH CO CL B 217016104 1,813,481 28,700 X 01 28,700 0 0
CORVIS CORP COM 221009103 775,295 12,700 X 01 12,700 0 0
COUNTRYWIDE CR INDS INC COM 222372104 1,661,000 44,000 X 01 44,000 0 0
COX RADIO INC CL A 224051102 1,604,250 92,000 X 01 92,000 0 0
CREE INC COM 225447101 1,464,750 12,600 X 01 12,600 0 0
CRITICAL PATH INC COM 22674V100 1,634,175 26,900 X 01 26,900 0 0
CROWN CASTLE INTL CORP COM 228227104 770,350 24,800 X 01 24,800 0 0
CYPRESS SEMICONDUCTOR CORP COM 232806109 1,130,500 27,200 X 01 27,200 0 0
CYTYC CORP COM 232946103 1,160,063 26,900 X 01 26,900 0 0
DDI CORPORATION COM 233162106 1,924,875 43,500 X 01 43,500 0 0
D.R.HORTON INC COM 23331A109 500,208 29,103 X 01 29,103 0 0
DAL TILE INTL INC COM 23426R108 1,181,250 94,500 X 01 94,500 0 0
DIGITAL INSIGHT CORP COM 25385P106 1,201,813 33,500 X 01 33,500 0 0
EDUCATION MGMT CORP COM 28139T101 1,002,075 37,200 X 01 37,200 0 0
EMULEX CORP COM 292475209 2,388,750 19,500 X 01 19,500 0 0
ENERGY EAST CORP COM 29266M109 1,300,938 57,500 X 01 57,500 0 0
ENTRAVISION COM CORP CL A 29382R107 1,511,625 87,000 X 01 87,000 0 0
ENZON INC COM 293904108 1,531,200 23,200 X 01 23,200 0 0
EQUITABLE RES INC COM 294549100 994,988 15,700 X 01 15,700 0 0
EXAR CORP COM 300645108 2,413,950 19,950 X 01 19,950 0 0
EXFO ELECTRO OPTICAL ENGR INC SUB VTG SHS 302043104 788,481 18,100 X 01 18,100 0 0
EXODUS COMMUNICATIONS INC COM 302088109 2,686,000 54,400 X 01 54,400 0 0
FINISAR CORP COM 31787A101 2,486,475 51,400 X 01 51,400 0 0
FIRST HEALTH GROUP CORP COM 320960107 1,131,975 35,100 X 01 35,100 0 0
FIRST TENN NATL CORP COM 337162101 1,491,938 73,000 X 01 73,000 0 0
GENOMIC SOLUTIONS INC COM 37243R109 919,531 53,500 X 01 53,500 0 0
GLOBESPAN SEMICONDUCTOR INC COM 379571102 1,207,800 9,900 X 01 9,900 0 0
GOLDEN ST BANCORP INC COM 381197102 1,710,450 72,400 X 01 72,400 0 0
GOLDEN WEST FINL CORP COM 381317106 1,624,838 30,300 X 01 30,300 0 0
HEALTH MGMT ASSOC CL A 421933102 2,547,450 122,400 X 01 122,400 0 0
HENRY JACK & ASSOC INC COM 426281101 1,535,475 35,400 X 01 35,400 0 0
HUDSON UTD BANCORP COM 444165104 1,237,600 44,800 X 01 44,800 0 0
HUMAN GENOME SCIENCES INC COM 444903108 1,263,813 7,300 X 01 7,300 0 0
ICN PHARMACEUTICALS INC COM 448924100 1,359,925 40,900 X 01 40,900 0 0
IDEC PHARMACEUTICALS CORP COM 449370105 1,823,738 10,400 X 01 10,400 0 0
IMAX CORP COM 45245E109 745,250 44,000 X 01 44,000 0 0
INET TECHNOLOGIES INC COM 45662V105 953,550 32,600 X 01 32,600 0 0
INFORMATICA CORP COM 45666Q102 1,398,750 15,000 X 01 15,000 0 0
INSIGHT ENTERPRISES INC COM 45765U103 837,938 30,750 X 01 30,750 0 0
INTEGRATED DEVICE TECHNOLOGY COM 458118106 2,036,250 22,500 X 01 22,500 0 0
INTERGRATED TELECOM EXPRESS COM 45817U101 1,317,625 63,500 X 01 63,500 0 0
THE INTERCEPT GROUP INC COM 45845L107 799,619 34,300 X 01 34,300 0 0
INTERNATIONAL RECTIFIER CORP COM 460254105 1,162,938 23,000 X 01 23,000 0 0
INTERSIL HLDG CORP CL A 46069S109 1,695,750 34,000 X 01 34,000 0 0
INTERWOVEN INC COM 46114T102 3,120,525 27,600 X 01 27,600 0 0
INVESTMENT TECHNOLOGY GROUP COM 46145F105 499,219 12,500 X 01 12,500 0 0
IVAX CORP COM 465823102 3,473,000 75,500 X 01 75,500 0 0
JNI CORP COM 46622G105 2,492,000 28,000 X 01 28,000 0 0
JUNIPER NETWORKS INC COM 48203R104 2,495,888 11,400 X 01 11,400 0 0
KLA TENCOR CORP COM 482480100 1,350,950 32,800 X 01 32,800 0 0
K V PHARMACEUTICAL COMPANY CL A 482740206 1,828,256 52,050 X 01 52,050 0 0
KEEBLER FOODS CO COM 487256109 1,344,000 32,000 X 01 32,000 0 0
KING PHARMACEUTICALS INC COM 495582108 2,876,461 86,025 X 01 86,025 0 0
LABORATORY CORP AMER HLDGS COM 50540R409 1,329,225 11,100 X 01 11,100 0 0
LAMAR ADVERTISING CO CL A 512815101 969,600 25,600 X 01 25,600 0 0
LATTICE SEMICONDUCTOR CORP COM 518415104 1,048,125 19,500 X 01 19,500 0 0
LEARNING TREE INTL INC COM 522015106 904,875 19,000 X 01 19,000 0 0
LEGG MASON INC COM 524901105 1,656,563 28,500 X 01 28,500 0 0
LENNAR CORP COM 526057104 549,219 18,500 X 01 18,500 0 0
LEXENT INC COM 52886Q102 1,579,725 53,100 X 01 53,100 0 0
LOUIS DREYFUS NAT GAS CORP COM 546011107 1,252,150 31,600 X 01 31,600 0 0
LUBRIZOL CORP COM 549271104 752,063 38,200 X 01 38,200 0 0
MMC NETWORKS INC COM 55308N102 1,201,750 9,500 X 01 9,500 0 0
MRV COMMUNICATIONS INC COM 553477100 770,313 17,000 X 01 17,000 0 0
MACROMEDIA INC COM 556100105 1,575,844 19,500 X 01 19,500 0 0
MCCORMICK & CO INC COM NON VTG 579780206 1,130,500 38,000 X 01 38,000 0 0
MEDICIS PHARMACEUTICAL CORP CL A 584690309 1,746,600 28,400 X 01 28,400 0 0
MERCANTILE BANKSHARES CORP COM 587405101 1,586,173 43,700 X 01 43,700 0 0
MERCURY INTERACTIVE CORP COM 589405109 1,912,350 12,200 X 01 12,200 0 0
METASOLV SOFTWARE INC COM 591393103 1,234,425 30,200 X 01 30,200 0 0
METRICOM INC COM 591596101 1,042,875 40,500 X 01 40,500 0 0
METTLER TOLEDO INTL INC COM 592688105 1,280,400 29,100 X 01 29,100 0 0
MICREL INC COM 594793101 1,487,400 22,200 X 01 22,200 0 0
MICROMUSE INC COM 595094103 1,808,438 9,000 X 01 9,000 0 0
MILLENNIUM PHARMACEUTICALS COM 599902103 1,708,931 11,700 X 01 11,700 0 0
MILLIPORE CORP COM 601073109 900,938 18,600 X 01 18,600 0 0
MONDAVI ROBERT CORP CL A 609200100 1,319,456 31,500 X 01 31,500 0 0
MYLAN LABS INC COM 628530107 1,818,281 67,500 X 01 67,500 0 0
NRG ENERGY INC COM 629377102 1,865,150 51,100 X 01 51,100 0 0
NATIONAL FUEL GAS CO COM 636180101 706,388 12,600 X 01 12,600 0 0
NEOPHARM INC COM 640919106 1,623,450 41,100 X 01 41,100 0 0
NETRO CORP COM 64114R109 1,730,100 29,200 X 01 29,200 0 0
NETWORK APPLIANCE INC COM 64120L104 5,579,025 43,800 X 01 43,800 0 0
NEUBERGERBERMAN INC COM 641234109 479,700 7,800 X 01 7,800 0 0
NEW FOCUS INC COM 644383101 1,209,656 15,300 X 01 15,300 0 0
NEWPORT NEWS SHIPBUILDING INC COM 652228107 1,032,325 23,800 X 01 23,800 0 0
NORTH FORK BANCORPORATION INC COM 659424105 1,487,800 68,800 X 01 68,800 0 0
NUANCE COMMUNICATIONS COM 669967101 1,460,250 12,000 X 01 12,000 0 0
NUMERICAL TECHNOLOGIES INC COM 67053T101 1,051,656 36,500 X 01 36,500 0 0
NVIDIA CORP COM 67066G104 1,784,875 21,800 X 01 21,800 0 0
NYFIX INC COM 670712108 429,880 9,600 X 01 9,600 0 0
ON SEMICONDUCTOR CORP COM 682189105 207,713 19,100 X 01 19,100 0 0
ONI SYS CORP COM 68273F103 1,104,800 12,800 X 01 12,800 0 0
OPNET TECHNOLOGIES INC COM 683757108 1,113,250 30,500 X 01 30,500 0 0
PMC SIERRA INC COM 69344F106 1,839,742 8,547 X 01 8,547 0 0
PMI GROUP INC COM 69344M101 1,551,475 22,900 X 01 22,900 0 0
PANAMSAT CORP COM 697933109 961,319 30,100 X 01 30,100 0 0
PEMSTAR INC COM 706552106 1,699,031 86,300 X 01 86,300 0 0
PERKINELMER INC COM 714046109 1,534,313 14,700 X 01 14,700 0 0
PHARMACOPEIA INC COM 71713B104 1,234,200 48,400 X 01 48,400 0 0
PHONE COM INC COM 71920Q100 1,295,325 11,400 X 01 11,400 0 0
PINNACLE HLDGS INC COM 72346N101 457,950 17,200 X 01 17,200 0 0
PLEXUS CORP COM 729132100 3,567,300 50,600 X 01 50,600 0 0
POLYMEDICA CORP COM 731738100 1,080,450 25,200 X 01 25,200 0 0
PORTAL SOFTWARE INC COM 736126103 992,000 24,800 X 01 24,800 0 0
PRAECIS PHARMACEUTICALS INC COM 739421105 1,402,500 33,000 X 01 33,000 0 0
PROVINCE HEALTHCARE CO COM 743977100 1,335,909 33,450 X 01 33,450 0 0
PULTE CORP COM 745867101 528,000 16,000 X 01 16,000 0 0
QLOGIC CORP COM 747277101 3,616,800 41,100 X 01 41,100 0 0
QUEENS CNTY BANCORP COM 748242104 1,518,825 52,600 X 01 52,600 0 0
RADISYS CORP COM 750459109 960,688 19,000 X 01 19,000 0 0
RATIONAL SOFTWARE CORP COM 75409P202 1,526,250 22,000 X 01 22,000 0 0
RAYMOND JAMES FINANCIAL INC COM 754730109 1,469,013 44,600 X 01 44,600 0 0
REDBACK NETWORKS INC COM 757209101 2,082,800 12,700 X 01 12,700 0 0
REINSURANCE GROUP AMER INC COM 759351109 1,760,450 51,400 X 01 51,400 0 0
SCI SYS INC COM 783890106 1,287,400 31,400 X 01 31,400 0 0
SDL INC COM 784076101 2,505,431 8,100 X 01 8,100 0 0
SANDISK CORP COM 80004C101 1,154,775 17,300 X 01 17,300 0 0
SANMINA CORP COM 800907107 1,610,350 17,200 X 01 17,200 0 0
SCIENTIFIC ATLANTA INC COM 808655104 1,157,975 18,200 X 01 18,200 0 0
SELECTICA INC COM 816288104 1,236,125 31,000 X 01 31,000 0 0
SEMTECH CORP COM 816850101 1,250,625 29,000 X 01 29,000 0 0
SEPRACOR INC COM 817315104 1,006,038 8,200 X 01 8,200 0 0
SILICON LABORATORIES COM 826919102 779,000 19,000 X 01 19,000 0 0
SILICON IMAGE INC COM 82705T102 1,290,250 52,000 X 01 52,000 0 0
SILICON VY BANCSHARES COM 827064106 2,247,847 38,600 X 01 38,600 0 0
SMITH INTL INC COM 832110100 1,060,313 13,000 X 01 13,000 0 0
SOUTHDOWN INC COM 841297104 1,831,125 25,700 X 01 25,700 0 0
SOUTHTRUST CORP COM 844730101 1,364,388 43,400 X 01 43,400 0 0
SOUTHWEST BANCORPORATION COM 84476R109 1,725,900 52,800 X 01 52,800 0 0
SPECTRASITE HLDGS INC COM 84760T100 803,756 43,300 X 01 43,300 0 0
SPEECHWORKS INTL INC COM 84764M101 1,258,600 20,300 X 01 20,300 0 0
SPINNAKER EXPL CO COM 84855W109 1,109,025 31,800 X 01 31,800 0 0
STATION CASINOS INC COM 857689103 743,850 52,200 X 01 52,200 0 0
STONE ENERGY CORP COM 861642106 863,500 15,700 X 01 15,700 0 0
STRATOS LIGHTWAVE INC COM 863100103 1,025,550 31,800 X 01 31,800 0 0
SUNRISE TELECOM INC COM 86769Y105 812,513 28,200 X 01 28,200 0 0
SWIFT TRANSN INC COM 870756103 646,594 49,500 X 01 49,500 0 0
SYCAMORE NETWORKS INC COM 871206108 1,296,000 12,000 X 01 12,000 0 0
SYMYX TECHNOLOGIES INC COM 87155S108 858,825 19,800 X 01 19,800 0 0
TCF FINANCIAL CORP COM 872275102 1,516,288 40,300 X 01 40,300 0 0
TVIA INC COM 87307P101 1,250,244 69,700 X 01 69,700 0 0
TALARIAN CORP COM 874090103 1,043,800 54,400 X 01 54,400 0 0
TELECOMMUNICATION SYS INC CL A 87929J103 1,212,525 63,400 X 01 63,400 0 0
TENET HEALTHCARE CORP COM 88033G100 1,382,250 38,000 X 01 38,000 0 0
TEVA PHARMACEUTICAL INDS LTD ADR 881624209 2,678,663 36,600 X 01 36,600 0 0
TIBCO SOFTWARE INC COM 88632Q103 1,173,681 13,900 X 01 13,900 0 0
TOLL BROSINC COM 889478103 563,750 16,400 X 01 16,400 0 0
TRANSWITCH CORP COM 894065101 3,499,875 54,900 X 01 54,900 0 0
TRIAD GTYINC COM 895925105 1,130,500 38,000 X 01 38,000 0 0
TRIQUINT SEMICONDUCTOR INC COM 89674K103 1,209,725 33,200 X 01 33,200 0 0
TURNSTONESYS INC COM 900423104 834,750 18,000 X 01 18,000 0 0
ULTICOM INC COM 903844108 1,489,150 31,600 X 01 31,600 0 0
UNITED STATIONERS INC COM 913004107 1,349,125 50,200 X 01 50,200 0 0
UNIVERSALHEALTH SVCS INC CL B 913903100 1,515,563 17,700 X 01 17,700 0 0
US FREIGHTWAYS CORP COM 916906100 732,806 32,300 X 01 32,300 0 0
VARIAGENICS INC COM 922196100 1,302,225 58,200 X 01 58,200 0 0
VARIAN INC COM 922206107 1,795,706 41,700 X 01 41,700 0 0
VARIAN SEMICONDUCTOR EQUIP INC COM 922207105 898,500 24,000 X 01 24,000 0 0
VERISIGN INC COM 92343E102 2,126,906 10,500 X 01 10,500 0 0
VERITAS DGC INC COM 92343P107 1,198,013 41,400 X 01 41,400 0 0
VIRATA CORP COM 927646109 2,585,488 39,100 X 01 39,100 0 0
VITRIA TECHNOLOGY INC COM 92849Q104 1,100,350 23,600 X 01 23,600 0 0
WJ COMMUNICATION INC COM 929284107 1,176,600 31,800 X 01 31,800 0 0
WADDELL & REED FINL INC CL A 930059100 1,066,400 34,400 X 01 34,400 0 0
WATCHGUARD TECHNOLOGIES INC COM 941105108 1,584,000 26,400 X 01 26,400 0 0
WATERS CORP COM 941848103 1,477,400 16,600 X 01 16,600 0 0
WEATHERFORD INTL INC COM 947074100 1,242,700 28,900 X 01 28,900 0 0
WEBMETHODS INC COM 94768C108 771,338 6,700 X 01 6,700 0 0
WERNER ENTERPRISES INC COM 950755108 807,225 68,700 X 01 68,700 0 0
WINTRUST FINL CORP COM 97650W108 753,100 44,300 X 01 44,300 0 0
XM SATELLITE RADIO HLDGS INC CL A 983759101 1,580,394 36,700 X 01 36,700 0 0
XILINX INC COM 983919101 2,979,750 34,800 X 01 34,800 0 0
ZALE CORP COM 988858106 1,453,200 44,800 X 01 44,800 0 0
322,411,437
223 ITEMS
</TABLE>
<TABLE>
THE GUARDIAN S&P 500 INDEX FUND
FORM 13F INFORMATION TABLE
<C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
NAME OF ISSUER TITLE OF CUSIP MKT VAL SHRS/PRIN INV DISCRETION VOTING AUTHORITY (SHARES)
CLASS NUMBER SOLE SHRD OTHR MGR A-SOLE B-SHRC-NONE
GLOBAL CROSSING LTD COM G3921A100 377,611 12,181 X 01 12,181 0 0
ADC TELECOMMUNICATIONS INC COM 000886101 252,342 9,384 X 01 9,384 0 0
AFLAC INC COM 001055102 266,308 4,157 X 01 4,157 0 0
AES CORP COM 00130H105 441,757 6,449 X 01 6,449 0 0
AT & T CORP COM 001957109 1,733,184 59,002 X 01 59,002 0 0
ABBOTT LABS COM 002824100 1,142,309 24,017 X 01 24,017 0 0
ADOBE SYS INC COM 00724F101 287,523 1,852 X 01 1,852 0 0
AGILENT TECHNOLOGIES INC COM 00846U101 319,024 6,519 X 01 6,519 0 0
ALCOA INC COM 013817101 344,022 13,591 X 01 13,591 0 0
ALLSTATE CORP COM 020002101 437,225 12,582 X 01 12,582 0 0
ALLTEL CORP COM 020039103 255,928 4,904 X 01 4,904 0 0
ALTERA CORP COM 021441100 296,671 6,213 X 01 6,213 0 0
AMERICA ONLINE INC COM 02364J104 1,916,026 35,647 X 01 35,647 0 0
AMERICAN EXPRESS CO COM 025816109 1,274,657 20,982 X 01 20,982 0 0
AMERICAN GEN CORP COM 026351106 301,080 3,860 X 01 3,860 0 0
AMERICAN HOME PRODUCTS CORP COM 026609107 1,153,818 20,399 X 01 20,399 0 0
AMERICAN INTL GROUP INC COM 026874107 3,471,638 36,281 X 01 36,281 0 0
AMGEN INC COM 031162100 1,114,317 15,958 X 01 15,958 0 0
ANADARKO PETE CORP COM 032511107 251,418 3,783 X 01 3,783 0 0
ANALOG DEVICES INC COM 032654105 451,122 5,464 X 01 5,464 0 0
ANHEUSER BUSCH COS INC COM 035229103 615,139 14,538 X 01 14,538 0 0
APPLIED MATERIALS INC COM 038222105 709,140 11,956 X 01 11,956 0 0
ASSOCIATES FIRST CAP CORP CL A 046008108 432,326 11,377 X 01 11,377 0 0
AUTOMATIC DATA PROCESSING INCOM 053015103 658,451 9,846 X 01 9,846 0 0
BP AMOCO PLC ADR 055622104 438,204 8,268 X 01 8,268 0 0
BANK AMERCORP COM 060505104 1,396,894 26,671 X 01 26,671 0 0
BANK NEW YORK INC COM 064057102 644,943 11,504 X 01 11,504 0 0
BANK ONE CORP COM 06423A103 692,044 17,917 X 01 17,917 0 0
BAXTER INTL INC COM 071813109 362,748 4,545 X 01 4,545 0 0
BELLSOUTH CORP COM 079860102 1,183,592 29,406 X 01 29,406 0 0
BEST BUY CO INC COM 086516101 203,155 3,193 X 01 3,193 0 0
BESTFOODS COM 08658U101 316,972 4,357 X 01 4,357 0 0
BOEING CO COM 097023105 854,973 13,571 X 01 13,571 0 0
BRISTOL MYERS SQUIBB CO COM 110122108 1,770,361 30,991 X 01 30,991 0 0
BROADCOM CORP CL A 111320107 825,338 3,386 X 01 3,386 0 0
CIGNA CORP COM 125509109 274,885 2,633 X 01 2,633 0 0
CVS CORP COM 126650100 283,525 6,122 X 01 6,122 0 0
CAPITAL ONE FINL CORP COM 14040H105 215,793 3,080 X 01 3,080 0 0
CARDINAL HEALTH INC COM 14149Y108 387,496 4,394 X 01 4,394 0 0
CARNIVAL CORP COM 143658102 237,336 9,638 X 01 9,638 0 0
CENDANT CORP COM 151313103 119,951 11,030 X 01 11,030 0 0
CHASE MANHATTAN CORP COM 16161A108 892,666 19,327 X 01 19,327 0 0
CHEVRON CORP COM 166751107 873,983 10,252 X 01 10,252 0 0
CHUBB CORP COM 171232101 217,436 2,748 X 01 2,748 0 0
CISCO SYS INC COM 17275R102 6,009,101 108,762 X 01 108,762 0 0
CITIGROUP INC COM 172967101 3,796,972 70,233 X 01 70,233 0 0
CLEAR CHANNEL COMMUNICATIONSCOM 184502102 298,772 5,288 X 01 5,288 0 0
COASTAL CORP COM 190441105 247,355 3,337 X 01 3,337 0 0
COCA COLA CO COM 191216100 2,127,108 38,587 X 01 38,587 0 0
COLGATE PALMOLIVE CO COM 194162103 429,567 9,101 X 01 9,101 0 0
COMCAST CORP CL A SPL 200300200 592,570 14,475 X 01 14,475 0 0
COMPAQ COMPUTER CORP COM 204493100 729,905 26,465 X 01 26,465 0 0
COMPUTER ASSOC INTL INC COM 204912109 213,263 8,467 X 01 8,467 0 0
COMVERSE TECHNOLOGY INC COM 205862402 257,580 2,385 X 01 2,385 0 0
CONOCO INC CL B 208251405 263,530 9,783 X 01 9,783 0 0
CORNING INC COM 219350105 1,279,476 4,308 X 01 4,308 0 0
COSTCO WHSL CORP COM 22160K105 242,676 6,946 X 01 6,946 0 0
DELL COMPUTER CORP COM 247025109 1,234,811 40,075 X 01 40,075 0 0
DISNEY WALT CO COM 254687106 1,236,929 32,338 X 01 32,338 0 0
DOMINION RES INC VA COM 25746U109 215,876 3,718 X 01 3,718 0 0
DOW CHEM CO COM 260543103 256,283 10,277 X 01 10,277 0 0
DU PONT EI DE NEMOURS & CO COM 263534109 676,177 16,318 X 01 16,318 0 0
DUKE ENERGY CO COM 264399106 489,804 5,712 X 01 5,712 0 0
E M C CORP COM 268648102 3,200,647 32,289 X 01 32,289 0 0
EASTMAN KODAK CO COM 277461109 201,514 4,930 X 01 4,930 0 0
EL PASO ENERGY CORP COM 283905107 219,755 3,566 X 01 3,566 0 0
ELECTRONIC DATA SYS CORP COM 285661104 305,191 7,354 X 01 7,354 0 0
EMERSON ELEC CO COM 291011104 451,178 6,734 X 01 6,734 0 0
ENRON CORP COM 293561106 979,560 11,179 X 01 11,179 0 0
EXXON MOBIL CORP COM 30231G102 4,808,650 53,954 X 01 53,954 0 0
FEDERAL HOME LN MTG CORP COM 313400301 587,119 10,860 X 01 10,860 0 0
FEDERAL NATL MTG ASSN COM 313586109 1,144,930 16,013 X 01 16,013 0 0
FEDEX CORP COM 31428X106 200,816 4,529 X 01 4,529 0 0
FIFTH THIRD BANCORP COM 316773100 389,678 7,233 X 01 7,233 0 0
FIRST DATA CORP COM 319963104 255,742 6,547 X 01 6,547 0 0
FIRST UN CORP COM 337358105 496,685 15,431 X 01 15,431 0 0
FIRSTAR CORP COM 33763V109 342,628 15,313 X 01 15,313 0 0
FLEETBOSTON FINL CORP COM 339030108 557,817 14,303 X 01 14,303 0 0
FORD MTR CO COM 345370860 835,034 32,989 X 01 32,989 0 0
GANNETT INC COM 364730101 230,815 4,355 X 01 4,355 0 0
GAP INC COM 364760108 267,522 13,293 X 01 13,293 0 0
GATEWAY INC COM 367626108 231,132 4,944 X 01 4,944 0 0
GENERAL ELEC CO COM 369604103 9,014,306 156,261 X 01 156,261 0 0
GENERAL MTRS CORP COM 370442105 650,065 10,001 X 01 10,001 0 0
GILLETTE CO COM 375766102 517,372 16,757 X 01 16,757 0 0
GUIDANT CORP COM 401698105 339,441 4,802 X 01 4,802 0 0
HCA HEALTHCARE CO COM 404119109 326,700 8,800 X 01 8,800 0 0
HALLIBURTON CO COM 406216101 337,718 6,901 X 01 6,901 0 0
HARLEY DAVIDSON INC COM 412822108 226,353 4,728 X 01 4,728 0 0
HARTFORD FINANCIAL SVCS GRP COM 416515104 252,510 3,462 X 01 3,462 0 0
HEINZ H JCO COM 423074103 205,326 5,540 X 01 5,540 0 0
HEWLETT PACKARD CO COM 428236103 1,522,900 15,700 X 01 15,700 0 0
HOME DEPOT INC COM 437076102 1,908,605 35,969 X 01 35,969 0 0
HONEYWELL INTL INC COM 438516106 440,574 12,367 X 01 12,367 0 0
HOUSEHOLD INTL INC COM 441815107 415,911 7,345 X 01 7,345 0 0
ILLINOIS TOOL WKS INC COM 452308109 262,277 4,694 X 01 4,694 0 0
INTEL CORP COM 458140100 4,442,034 106,876 X 01 106,876 0 0
INTERNATIONAL BUSINESS MACHSCOM 459200101 3,168,113 28,161 X 01 28,161 0 0
INTERNATIONAL PAPER CO COM 460146103 216,046 7,531 X 01 7,531 0 0
JDS UNIPHASE CORP COM 46612J101 1,370,696 14,476 X 01 14,476 0 0
JOHNSON & JOHNSON COM 478160104 2,042,013 21,738 X 01 21,738 0 0
KIMBERLY CLARK CORP COM 494368103 484,453 8,680 X 01 8,680 0 0
KOHLS CORP COM 500255104 293,802 5,093 X 01 5,093 0 0
KROGER CO COM 501044101 294,080 13,034 X 01 13,034 0 0
LEHMAN BROTHERS HLDGS INC COM 524908100 277,031 1,875 X 01 1,875 0 0
LILLY ELI & CO COM 532457108 1,382,046 17,036 X 01 17,036 0 0
LINEAR TECHNOLOGY CORP COM 535678106 321,808 4,970 X 01 4,970 0 0
LOCKHEED MARTIN CORP COM 539830109 203,858 6,185 X 01 6,185 0 0
LOWES COS INC COM 548661107 268,038 5,973 X 01 5,973 0 0
LUCENT TECHNOLOGIES INC COM 549463107 1,521,921 49,797 X 01 49,797 0 0
MBNA CORP COM 55262L100 482,251 12,526 X 01 12,526 0 0
MARSH & MCLENNAN COS INC COM 571748102 553,302 4,168 X 01 4,168 0 0
MAXIM INTEGRATED PRODS INC COM 57772K101 349,823 4,349 X 01 4,349 0 0
MCDONALDS CORP COM 580135101 638,556 21,153 X 01 21,153 0 0
MEDTRONIC INC COM 585055106 966,769 18,659 X 01 18,659 0 0
MELLON FINL CORP COM 58551A108 368,496 7,946 X 01 7,946 0 0
MERCK & CO INC COM 589331107 2,718,234 36,517 X 01 36,517 0 0
MERRILL LYNCH & CO INC COM 590188108 764,412 11,582 X 01 11,582 0 0
MICROSOFT CORP COM 594918104 4,979,219 82,557 X 01 82,557 0 0
MICRON TECHNOLOGY INC COM 595112103 388,378 8,443 X 01 8,443 0 0
MINNESOTAMNG & MFG CO COM 604059105 567,982 6,233 X 01 6,233 0 0
MORGAN J P & CO INC COM 616880100 441,929 2,705 X 01 2,705 0 0
MORGAN STANLEY DEAN WITTER&CCOM 617446448 1,627,588 17,800 X 01 17,800 0 0
MOTOROLA INC COM 620076109 938,945 33,237 X 01 33,237 0 0
NATIONAL CITY CORP COM 635405103 213,108 9,632 X 01 9,632 0 0
NETWORK APPLIANCE INC COM 64120L104 606,050 4,758 X 01 4,758 0 0
NEXTEL COMMUNICATIONS INC CL A 65332V103 532,342 11,387 X 01 11,387 0 0
NORTEL NETWORKS CORP COM 656568102 2,686,805 45,109 X 01 45,109 0 0
NORTHERN TRUST CORP COM 665859104 309,018 3,477 X 01 3,477 0 0
OMNICOM GROUP COM 681919106 202,183 2,772 X 01 2,772 0 0
ORACLE CORP COM 68389X105 3,471,300 44,080 X 01 44,080 0 0
PE CORP COM 69332S102 375,130 3,220 X 01 3,220 0 0
PNC FINL SVCS GROUP INC COM 693475105 298,545 4,593 X 01 4,593 0 0
PALM INC COM 696642107 419,900 7,932 X 01 7,932 0 0
PAYCHEX INC COM 704326107 304,028 5,791 X 01 5,791 0 0
PEPSICO INC COM 713448108 1,046,132 22,742 X 01 22,742 0 0
PFIZER INC COM 717081103 4,375,564 97,370 X 01 97,370 0 0
PHARMACIACORP COM 71713U102 1,176,846 19,553 X 01 19,553 0 0
PHILIP MORRIS COS INC COM 718154107 1,088,157 36,965 X 01 36,965 0 0
PHILLIPS PETE CO COM 718507106 248,302 3,957 X 01 3,957 0 0
PROCTER & GAMBLE CO COM 742718109 1,377,185 20,555 X 01 20,555 0 0
PROVIDIAN FINL CORP COM 74406A102 281,686 2,218 X 01 2,218 0 0
QUALCOMM INC COM 747525103 821,370 11,528 X 01 11,528 0 0
QWEST COMMUNICATIONS INTL INCOM 749121109 960,673 19,988 X 01 19,988 0 0
RELIANT ENERGY INC COM 75952J108 214,784 4,619 X 01 4,619 0 0
ROYAL DUTCH PETE CO NY REG GLD 780257804 2,007,906 33,500 X 01 33,500 0 0
SBC COMMUNICATIONS INC COM 78387G103 2,664,750 53,295 X 01 53,295 0 0
SAFEWAY INC COM 786514208 371,072 7,948 X 01 7,948 0 0
SARA LEE CORP COM 803111103 288,356 14,196 X 01 14,196 0 0
SCHERING PLOUGH CORP COM 806605101 1,067,175 22,950 X 01 22,950 0 0
SCHLUMBERGER LTD COM 806857108 707,064 8,590 X 01 8,590 0 0
SCHWAB CHARLES CORP COM 808513105 682,133 19,215 X 01 19,215 0 0
SEAGATE TECHNOLOGY COM 811804103 232,668 3,372 X 01 3,372 0 0
SEAGRAM LTD COM 811850106 388,967 6,772 X 01 6,772 0 0
SIEBEL SYS INC COM 826170102 678,004 6,091 X 01 6,091 0 0
SOLECTRON CORP COM 834182107 427,071 9,259 X 01 9,259 0 0
SOUTHERN CO COM 842587107 341,080 10,515 X 01 10,515 0 0
SPRINT CORP COM FON 852061100 399,060 13,614 X 01 13,614 0 0
SPRINT CORP PCS 852061506 472,082 13,464 X 01 13,464 0 0
STATE STREET CORPORATION COM 857477103 324,870 2,499 X 01 2,499 0 0
SUN MICROSYSTEMS INC COM 866810104 2,879,055 24,660 X 01 24,660 0 0
SUNTRUST BKS INC COM 867914103 249,013 4,999 X 01 4,999 0 0
SYSCO CORP COM 871829107 238,741 5,155 X 01 5,155 0 0
TARGET CORP COM 87612E106 350,832 13,691 X 01 13,691 0 0
TELLABS INC COM 879664100 300,061 6,284 X 01 6,284 0 0
TEXACO INC COM 881694103 453,600 8,640 X 01 8,640 0 0
TEXAS INSTRS INC COM 882508104 1,198,657 25,402 X 01 25,402 0 0
TIME WARNER INC COM 887315109 1,572,747 20,099 X 01 20,099 0 0
TRIBUNE CO COM 896047107 264,106 6,054 X 01 6,054 0 0
TYCO INTL LTD COM 902124106 1,370,486 26,419 X 01 26,419 0 0
US BANCORP COM 902973106 267,745 11,769 X 01 11,769 0 0
UNILEVER N V N Y SHS 904784709 430,824 8,929 X 01 8,929 0 0
UNITED TECHNOLOGIES CORP COM 913017109 513,835 7,420 X 01 7,420 0 0
UNITEDHEALTH GROUP INC COM 91324P102 261,786 2,651 X 01 2,651 0 0
VERIZON COMMUNICATIONS COM 92343V104 2,072,156 42,780 X 01 42,780 0 0
VERITAS SOFTWARE CORP COM 923436109 882,246 6,213 X 01 6,213 0 0
VIACOM INC CL B 925524308 1,393,002 23,812 X 01 23,812 0 0
WAL MART STORES INC COM 931142103 3,438,243 71,444 X 01 71,444 0 0
WALGREEN CO COM 931422109 596,378 15,720 X 01 15,720 0 0
WASHINGTON MUT INC COM 939322103 359,069 9,019 X 01 9,019 0 0
WELLS FARGO & CO COM 949746101 1,184,774 25,791 X 01 25,791 0 0
WILLIAMS COS INC COM 969457100 286,962 6,792 X 01 6,792 0 0
WORLDCOM INC COM 98157D106 1,346,919 44,343 X 01 44,343 0 0
XILINX INC COM 983919101 429,752 5,019 X 01 5,019 0 0
XEROX CORP COM 984121103 156,303 10,377 X 01 10,377 0 0
YAHOO INC COM 984332106 768,222 8,442 X 01 8,442 0 0
170,818,251
186 ITEMS
</TABLE>
<TABLE>
THE GUARDIAN VC 500 INDEX FUND
FORM 13F INFORMATION TABLE
<C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
NAME OF ISSUER TITLE OF CUSIP MKT VAL SHRS/PRIN INV DISCRETION VOTING AUTHORITY (SHARES)
CLASS NUMBER SOLE SHRD OTHR MGR A-SOLE B-SHRDC-NONE
GLOBAL CROSSING LTD COM G3921A100 607,786 19,606 X 01 19,606 0 0
TRANSOCEAN SEDCO FOREX INCORD G90078109 308,074 5,255 X 01 5,255 0 0
ADC TELECOMMUNICATIONS INCCOM 000886101 406,156 15,104 X 01 15,104 0 0
AFLAC INC COM 001055102 428,706 6,692 X 01 6,692 0 0
AES CORP COM 00130H105 711,030 10,380 X 01 10,380 0 0
AT & T CORP COM 001957109 2,789,626 94,966 X 01 94,966 0 0
ABBOTT LABS COM 002824100 1,838,576 38,656 X 01 38,656 0 0
ADOBE SYS INC COM 00724F101 462,800 2,981 X 01 2,981 0 0
AETNA INC COM 008117103 208,793 3,596 X 01 3,596 0 0
AGILENT TECHNOLOGIES INC COM 00846U101 513,501 10,493 X 01 10,493 0 0
AIR PRODS & CHEMS INC COM 009158106 207,576 5,766 X 01 5,766 0 0
ALBERTSONS INC COM 013104104 223,692 10,652 X 01 10,652 0 0
ALCOA INC COM 013817101 553,736 21,876 X 01 21,876 0 0
ALLERGAN INC COM 018490102 279,150 3,306 X 01 3,306 0 0
ALLSTATE CORP COM 020002101 703,757 20,252 X 01 20,252 0 0
ALLTEL CORP COM 020039103 411,968 7,894 X 01 7,894 0 0
ALTERA CORP COM 021441100 477,500 10,000 X 01 10,000 0 0
ALZA CORP COM 022615108 222,132 2,568 X 01 2,568 0 0
AMERICA ONLINE INC COM 02364J104 3,083,960 57,376 X 01 57,376 0 0
AMERICAN ELEC PWR INC COM 025537101 316,482 8,089 X 01 8,089 0 0
AMERICAN EXPRESS CO COM 025816109 2,051,588 33,771 X 01 33,771 0 0
AMERICAN GEN CORP COM 026351106 484,692 6,214 X 01 6,214 0 0
AMERICAN HOME PRODUCTS CORCOM 026609107 1,857,117 32,833 X 01 32,833 0 0
AMERICAN INTL GROUP INC COM 026874107 5,587,767 58,396 X 01 58,396 0 0
AMGEN INC COM 031162100 1,793,605 25,686 X 01 25,686 0 0
ANADARKO PETE CORP COM 032511107 404,741 6,090 X 01 6,090 0 0
ANALOG DEVICES INC COM 032654105 726,137 8,795 X 01 8,795 0 0
ANHEUSER BUSCH COS INC COM 035229103 990,113 23,400 X 01 23,400 0 0
AON CORP COM 037389103 253,280 6,453 X 01 6,453 0 0
APPLE COMPUTER COM 037833100 209,348 8,130 X 01 8,130 0 0
APPLIED MATERIALS INC COM 038222105 1,141,469 19,245 X 01 19,245 0 0
ARCHER DANIELS MIDLAND CO COM 039483102 138,261 16,030 X 01 16,030 0 0
ASSOCIATES FIRST CAP CORP CL A 046008108 695,856 18,312 X 01 18,312 0 0
AUTOMATIC DATA PROCESSING COM 053015103 1,059,835 15,848 X 01 15,848 0 0
AVON PRODS INC COM 054303102 249,051 6,093 X 01 6,093 0 0
BB&T CORP COM 054937107 263,172 8,736 X 01 8,736 0 0
BP AMOCO PLC ADR 055622104 705,324 13,308 X 01 13,308 0 0
BAKER HUGHES INC COM 057224107 307,321 8,278 X 01 8,278 0 0
BANK AMER CORP COM 060505104 2,248,354 42,928 X 01 42,928 0 0
BANK NEW YORK INC COM 064057102 1,038,109 18,517 X 01 18,517 0 0
BANK ONE CORP COM 06423A103 1,113,906 28,839 X 01 28,839 0 0
BAXTER INTL INC COM 071813109 583,908 7,316 X 01 7,316 0 0
BELLSOUTH CORP COM 079860102 1,905,073 47,331 X 01 47,331 0 0
BEST BUY CO INC COM 086516101 327,033 5,140 X 01 5,140 0 0
BESTFOODS COM 08658U101 510,269 7,014 X 01 7,014 0 0
BIOGEN INC COM 090597105 230,458 3,778 X 01 3,778 0 0
BOEING CO COM 097023105 1,376,172 21,844 X 01 21,844 0 0
BOSTON SCIENTIFIC CORP COM 101137107 171,410 10,428 X 01 10,428 0 0
BRISTOL MYERS SQUIBB CO COM 110122108 2,849,452 49,881 X 01 49,881 0 0
BROADCOM CORP CL A 111320107 1,328,438 5,450 X 01 5,450 0 0
BURLINGTON NORTHN SANTA FECOM 12189T104 247,753 11,490 X 01 11,490 0 0
BURLINGTON RES INC COM 122014103 201,328 5,469 X 01 5,469 0 0
CIGNA CORP COM 125509109 442,552 4,239 X 01 4,239 0 0
CVS CORP COM 126650100 456,363 9,854 X 01 9,854 0 0
CAMPBELL SOUP CO COM 134429109 277,458 10,723 X 01 10,723 0 0
CAPITAL ONE FINL CORP COM 14040H105 347,370 4,958 X 01 4,958 0 0
CARDINAL HEALTH INC COM 14149Y108 623,750 7,073 X 01 7,073 0 0
CARNIVAL CORP COM 143658102 382,032 15,514 X 01 15,514 0 0
CATERPILLAR INC COM 149123101 301,725 8,940 X 01 8,940 0 0
CENDANT CORP COM 151313103 193,064 17,753 X 01 17,753 0 0
CHASE MANHATTAN CORP COM 16161A108 1,436,801 31,108 X 01 31,108 0 0
CHEVRON CORP COM 166751107 1,406,796 16,502 X 01 16,502 0 0
CHUBB CORP COM 171232101 350,049 4,424 X 01 4,424 0 0
CISCO SYS INC COM 17275R102 9,671,789 175,055 X 01 175,055 0 0
CITIGROUP INC COM 172967101 6,111,333 113,042 X 01 113,042 0 0
CLEAR CHANNEL COMMUNICATIOCOM 184502102 480,928 8,512 X 01 8,512 0 0
CLOROX CO COM 189054109 235,278 5,947 X 01 5,947 0 0
COASTAL CORP COM 190441105 398,200 5,372 X 01 5,372 0 0
COCA COLA CO COM 191216100 3,423,704 62,108 X 01 62,108 0 0
COCA COLA ENTERPRISES INC COM 191219104 170,515 10,699 X 01 10,699 0 0
COLGATE PALMOLIVE CO COM 194162103 691,433 14,649 X 01 14,649 0 0
COMCAST CORP CL A SPL 200300200 953,803 23,299 X 01 23,299 0 0
COMERICA INC COM 200340107 229,835 3,933 X 01 3,933 0 0
COMPAQ COMPUTER CORP COM 204493100 1,174,798 42,596 X 01 42,596 0 0
COMPUTER ASSOC INTL INC COM 204912109 343,255 13,628 X 01 13,628 0 0
COMPUTER SCIENCES CORP COM 205363104 312,444 4,208 X 01 4,208 0 0
COMVERSE TECHNOLOGY INC COM 205862402 414,720 3,840 X 01 3,840 0 0
CONAGRA INC COM 205887102 248,434 12,383 X 01 12,383 0 0
CONEXANT SYS INC COM 207142100 226,125 5,400 X 01 5,400 0 0
CONOCO INC CL B 208251405 424,185 15,747 X 01 15,747 0 0
CORNING INC COM 219350105 2,059,695 6,935 X 01 6,935 0 0
COSTCO WHSL CORP COM 22160K105 390,601 11,180 X 01 11,180 0 0
DELL COMPUTER CORP COM 247025109 1,987,468 64,502 X 01 64,502 0 0
DELPHI AUTOMOTIVE SYS CORPCOM 247126105 214,881 14,207 X 01 14,207 0 0
DISNEY WALT CO COM 254687106 1,990,874 52,049 X 01 52,049 0 0
DOMINION RES INC VA COM 25746U109 347,504 5,985 X 01 5,985 0 0
DOVER CORP COM 260003108 240,320 5,120 X 01 5,120 0 0
DOW CHEM CO COM 260543103 412,516 16,542 X 01 16,542 0 0
DU PONT EI DE NEMOURS & COCOM 263534109 1,088,356 26,265 X 01 26,265 0 0
DUKE ENERGY CO COM 264399106 788,471 9,195 X 01 9,195 0 0
E M C CORP COM 268648102 5,151,526 51,970 X 01 51,970 0 0
EASTMAN KODAK CO COM 277461109 324,384 7,936 X 01 7,936 0 0
EL PASO ENERGY CORP COM 283905107 353,789 5,741 X 01 5,741 0 0
ELECTRONIC DATA SYS CORP COM 285661104 491,277 11,838 X 01 11,838 0 0
EMERSON ELEC CO COM 291011104 726,213 10,839 X 01 10,839 0 0
ENRON CORP COM 293561106 1,576,724 17,994 X 01 17,994 0 0
ENTERGY CORP COM 29364G103 231,211 6,207 X 01 6,207 0 0
EXXON MOBIL CORP COM 30231G102 7,739,704 86,841 X 01 86,841 0 0
FPL GROUP INC COM 302571104 296,335 4,507 X 01 4,507 0 0
FEDERAL HOME LN MTG CORP COM 313400301 945,013 17,480 X 01 17,480 0 0
FEDERAL NATL MTG ASSN COM 313586109 1,842,841 25,774 X 01 25,774 0 0
FEDEX CORP COM 31428X106 323,283 7,291 X 01 7,291 0 0
FIFTH THIRD BANCORP COM 316773100 627,267 11,643 X 01 11,643 0 0
FIRST DATA CORP COM 319963104 411,641 10,538 X 01 10,538 0 0
FIRST UN CORP COM 337358105 799,441 24,837 X 01 24,837 0 0
FIRSTAR CORP COM 33763V109 551,477 24,647 X 01 24,647 0 0
FLEETBOSTON FINL CORP COM 339030108 897,858 23,022 X 01 23,022 0 0
FORD MTR CO COM 345370860 1,344,018 53,097 X 01 53,097 0 0
FRANKLIN RES INC COM 354613101 277,776 6,252 X 01 6,252 0 0
GANNETT INC COM 364730101 371,530 7,010 X 01 7,010 0 0
GAP INC COM 364760108 430,595 21,396 X 01 21,396 0 0
GATEWAY INC COM 367626108 372,083 7,959 X 01 7,959 0 0
GENERAL DYNAMICS CORP COM 369550108 317,454 5,054 X 01 5,054 0 0
GENERAL ELEC CO COM 369604103 14,508,752 251,506 X 01 251,506 0 0
GENERAL MLS INC COM 370334104 268,806 7,572 X 01 7,572 0 0
GENERAL MTRS CORP COM 370442105 1,046,370 16,098 X 01 16,098 0 0
GILLETTE CO COM 375766102 832,761 26,972 X 01 26,972 0 0
GOLDEN WEST FINL CORP COM 381317106 217,932 4,064 X 01 4,064 0 0
GUIDANT CORP COM 401698105 546,344 7,729 X 01 7,729 0 0
HCA HEALTHCARE CO COM 404119109 525,839 14,164 X 01 14,164 0 0
HALLIBURTON CO COM 406216101 543,598 11,108 X 01 11,108 0 0
HARLEY DAVIDSON INC COM 412822108 364,329 7,610 X 01 7,610 0 0
HARTFORD FINANCIAL SVCS GRCOM 416515104 406,481 5,573 X 01 5,573 0 0
HEINZ H JCO COM 423074103 330,523 8,918 X 01 8,918 0 0
HEWLETT PACKARD CO COM 428236103 2,451,287 25,271 X 01 25,271 0 0
HOME DEPOT INC COM 437076102 3,072,000 57,894 X 01 57,894 0 0
HONEYWELLINTL INC COM 438516106 709,116 19,905 X 01 19,905 0 0
HOUSEHOLDINTL INC COM 441815107 669,421 11,822 X 01 11,822 0 0
ILLINOIS TOOL WKS INC COM 452308109 422,192 7,556 X 01 7,556 0 0
INTEL CORP COM 458140100 7,149,581 172,020 X 01 172,020 0 0
INTERNATIONAL BUSINESS MACCOM 459200101 5,099,288 45,327 X 01 45,327 0 0
INTERNATIONAL PAPER CO COM 460146103 347,750 12,122 X 01 12,122 0 0
INTERPUBLIC GROUP COS INC COM 460690100 240,379 7,057 X 01 7,057 0 0
JDS UNIPHASE CORP COM 46612J101 2,206,219 23,300 X 01 23,300 0 0
JOHNSON & JOHNSON COM 478160104 3,286,685 34,988 X 01 34,988 0 0
K MART CORP COM 482584109 73,458 12,243 X 01 12,243 0 0
KELLOGG CO COM 487836108 246,567 10,194 X 01 10,194 0 0
KEYCORP COM 493267108 284,715 11,248 X 01 11,248 0 0
KIMBERLY CLARK CORP COM 494368103 779,756 13,971 X 01 13,971 0 0
KOHLS CORP COM 500255104 472,922 8,198 X 01 8,198 0 0
KROGER CO COM 501044101 473,361 20,980 X 01 20,980 0 0
LSI LOGIC CORP COM 502161102 218,761 7,479 X 01 7,479 0 0
LEHMAN BROTHERS HLDGS INC COM 524908100 445,910 3,018 X 01 3,018 0 0
LILLY ELI & CO COM 532457108 2,224,529 27,421 X 01 27,421 0 0
LIMITED INC COM 532716107 238,363 10,804 X 01 10,804 0 0
LINCOLN NATL CORP COM 534187109 236,534 4,915 X 01 4,915 0 0
LINEAR TECHNOLOGY CORP COM 535678106 518,000 8,000 X 01 8,000 0 0
LOCKHEED MARTIN CORP COM 539830109 328,150 9,956 X 01 9,956 0 0
LOEWS CORP COM 540424108 222,361 2,667 X 01 2,667 0 0
LOWES COSINC COM 548661107 431,428 9,614 X 01 9,614 0 0
LUCENT TECHNOLOGIES INC COM 549463107 2,449,584 80,150 X 01 80,150 0 0
MBNA CORP COM 55262L100 776,199 20,161 X 01 20,161 0 0
MARSH & MCLENNAN COS INC COM 571748102 890,620 6,709 X 01 6,709 0 0
MARRIOTT INTL INC CL A 571903202 227,953 6,256 X 01 6,256 0 0
MASCO CORP COM 574599106 209,345 11,240 X 01 11,240 0 0
MATTEL INC COM 577081102 118,375 10,581 X 01 10,581 0 0
MAXIM INTEGRATED PRODS INCCOM 57772K101 563,063 7,000 X 01 7,000 0 0
MCDONALDS CORP COM 580135101 1,027,794 34,047 X 01 34,047 0 0
MCGRAW HILL COS INC COM 580645109 313,427 4,931 X 01 4,931 0 0
MCKESSON HBOC INC COM 58155Q103 216,535 7,085 X 01 7,085 0 0
MEDIMMUNE INC COM 584699102 278,100 3,600 X 01 3,600 0 0
MEDTRONIC INC COM 585055106 1,556,085 30,033 X 01 30,033 0 0
MELLON FINL CORP COM 58551A108 593,136 12,790 X 01 12,790 0 0
MERCK & CO INC COM 589331107 4,375,064 58,775 X 01 58,775 0 0
MERCURY INTERACTIVE CORP COM 589405109 266,475 1,700 X 01 1,700 0 0
MERRILL LYNCH & CO INC COM 590188108 1,230,372 18,642 X 01 18,642 0 0
MICROSOFT CORP COM 594918104 8,014,204 132,878 X 01 132,878 0 0
MICRON TECHNOLOGY INC COM 595112103 625,140 13,590 X 01 13,590 0 0
MINNESOTA MNG & MFG CO COM 604059105 914,257 10,033 X 01 10,033 0 0
MOLEX INC COM 608554101 268,377 4,930 X 01 4,930 0 0
MORGAN J P & CO INC COM 616880100 711,335 4,354 X 01 4,354 0 0
MORGAN STANLEY DEAN WITTERCOM 617446448 2,619,684 28,650 X 01 28,650 0 0
MOTOROLA INC COM 620076109 1,511,262 53,496 X 01 53,496 0 0
NABISCO GROUP HLDG CORP COM 62952P102 233,729 8,201 X 01 8,201 0 0
NATIONAL CITY CORP COM 635405103 343,026 15,504 X 01 15,504 0 0
NETWORK APPLIANCE INC COM 64120L104 975,565 7,659 X 01 7,659 0 0
NEXTEL COMMUNICATIONS INC CL A 65332V103 856,834 18,328 X 01 18,328 0 0
NIKE INC CL B 654106103 278,034 6,940 X 01 6,940 0 0
NORTEL NETWORKS CORP COM 656568102 4,324,476 72,604 X 01 72,604 0 0
NORTHERN TRUST CORP COM 665859104 497,433 5,597 X 01 5,597 0 0
OCCIDENTAL PETE CORP COM 674599105 201,613 9,243 X 01 9,243 0 0
OMNICOM GROUP COM 681919106 325,447 4,462 X 01 4,462 0 0
ORACLE CORP COM 68389X105 5,587,155 70,948 X 01 70,948 0 0
PECO ENERGY CO COM 693304107 282,948 4,672 X 01 4,672 0 0
PG&E CORP COM 69331C108 233,530 9,655 X 01 9,655 0 0
PE CORP COM 69332S102 603,936 5,184 X 01 5,184 0 0
PNC FINL SVCS GROUP INC COM 693475105 480,545 7,393 X 01 7,393 0 0
PAINE WEBBER GROUP INC COM 695629105 244,501 3,589 X 01 3,589 0 0
PALM INC COM 696642107 675,853 12,767 X 01 12,767 0 0
PAYCHEX INC COM 704326107 489,353 9,321 X 01 9,321 0 0
PEPSICO INC COM 713448108 1,683,784 36,604 X 01 36,604 0 0
PFIZER INC COM 717081103 7,042,560 156,719 X 01 156,719 0 0
PHARMACIA CORP COM 71713U102 1,894,221 31,472 X 01 31,472 0 0
PHILIP MORRIS COS INC COM 718154107 1,751,443 59,497 X 01 59,497 0 0
PHILLIPS PETE CO COM 718507106 399,655 6,369 X 01 6,369 0 0
PITNEY BOWES INC COM 724479100 263,048 6,670 X 01 6,670 0 0
PROCTER & GAMBLE CO COM 742718109 2,216,628 33,084 X 01 33,084 0 0
PROVIDIAN FINL CORP COM 74406A102 453,390 3,570 X 01 3,570 0 0
PUBLIC SVC ENTERPRISE GROUCOM 744573106 245,647 5,497 X 01 5,497 0 0
QUAKER OATS CO COM 747402105 266,177 3,364 X 01 3,364 0 0
QUALCOMM INC COM 747525103 1,322,115 18,556 X 01 18,556 0 0
QWEST COMMUNICATIONS INTL COM 749121109 1,546,267 32,172 X 01 32,172 0 0
RADIOSHACK CORP COM 750438103 314,142 4,861 X 01 4,861 0 0
RAYTHEON CO CL B 755111408 242,003 8,510 X 01 8,510 0 0
RELIANT ENERGY INC COM 75952J108 345,728 7,435 X 01 7,435 0 0
ROYAL DUTCH PETE CO NY REG GL 780257804 3,231,770 53,919 X 01 53,919 0 0
SBC COMMUNICATIONS INC COM 78387G103 4,289,000 85,780 X 01 85,780 0 0
SAFEWAY INC COM 786514208 597,320 12,794 X 01 12,794 0 0
ST PAUL COS INC COM 792860108 281,772 5,714 X 01 5,714 0 0
SANMINA CORP COM 800907107 234,063 2,500 X 01 2,500 0 0
SARA LEE CORP COM 803111103 464,120 22,849 X 01 22,849 0 0
SCHERING PLOUGH CORP COM 806605101 1,717,710 36,940 X 01 36,940 0 0
SCHLUMBERGER LTD COM 806857108 1,138,053 13,826 X 01 13,826 0 0
SCHWAB CHARLES CORP COM 808513105 1,097,909 30,927 X 01 30,927 0 0
SCIENTIFIC ATLANTA INC COM 808655104 209,199 3,288 X 01 3,288 0 0
SEAGATE TECHNOLOGY COM 811804103 374,532 5,428 X 01 5,428 0 0
SEAGRAM LTD COM 811850106 626,126 10,901 X 01 10,901 0 0
SEARS ROEBUCK & CO COM 812387108 308,120 9,504 X 01 9,504 0 0
SIEBEL SYS INC COM 826170102 1,113,125 10,000 X 01 10,000 0 0
SOLECTRONCORP COM 834182107 687,401 14,903 X 01 14,903 0 0
SOUTHERN CO COM 842587107 549,005 16,925 X 01 16,925 0 0
SOUTHWESTAIRLS CO COM 844741108 307,587 12,684 X 01 12,684 0 0
SPRINT CORP COM FON 852061100 642,325 21,913 X 01 21,913 0 0
SPRINT CORP PCS 852061506 759,875 21,672 X 01 21,672 0 0
STAPLES INC COM 855030102 167,597 11,813 X 01 11,813 0 0
STATE STREET CORPORATION COM 857477103 522,990 4,023 X 01 4,023 0 0
STILWELL FINANCIAL INC COM 860831106 241,773 5,558 X 01 5,558 0 0
SUN MICROSYSTEMS INC COM 866810104 4,634,041 39,692 X 01 39,692 0 0
SUNTRUST BKS INC COM 867914103 400,791 8,046 X 01 8,046 0 0
SYSCO CORP COM 871829107 384,301 8,298 X 01 8,298 0 0
TXU CORP COM 873168108 275,394 6,950 X 01 6,950 0 0
TARGET CORP COM 87612E106 564,673 22,036 X 01 22,036 0 0
TELLABS INC COM 879664100 482,991 10,115 X 01 10,115 0 0
TENET HEALTHCARE CORP COM 88033G100 285,326 7,844 X 01 7,844 0 0
TEXACO INC COM 881694103 730,118 13,907 X 01 13,907 0 0
TEXAS INSTRS INC COM 882508104 1,929,308 40,886 X 01 40,886 0 0
TIME WARNER INC COM 887315109 2,531,388 32,350 X 01 32,350 0 0
TRIBUNE CO COM 896047107 425,126 9,745 X 01 9,745 0 0
TYCO INTL LTD COM 902124106 2,205,881 42,523 X 01 42,523 0 0
USX MARATHON GROUP COM 902905827 221,694 7,813 X 01 7,813 0 0
US BANCORP COM 902973106 430,976 18,944 X 01 18,944 0 0
UNILEVER N V N Y SHS 904784709 693,449 14,372 X 01 14,372 0 0
UNICOM CORP COM 904911104 307,346 5,470 X 01 5,470 0 0
UNION PAC CORP COM 907818108 242,969 6,250 X 01 6,250 0 0
UNITED TECHNOLOGIES CORP COM 913017109 827,122 11,944 X 01 11,944 0 0
UNITEDHEALTH GROUP INC COM 91324P102 421,465 4,268 X 01 4,268 0 0
UNOCAL CORP COM 915289102 216,027 6,096 X 01 6,096 0 0
VERIZON COMMUNICATIONS COM 92343V104 3,335,213 68,856 X 01 68,856 0 0
VERITAS SOFTWARE CORP COM 923436109 1,420,000 10,000 X 01 10,000 0 0
VIACOM INC CL B 925524308 2,242,071 38,326 X 01 38,326 0 0
WACHOVIA CORP COM 929771103 288,993 5,098 X 01 5,098 0 0
WAL MART STORES INC COM 931142103 5,533,942 114,991 X 01 114,991 0 0
WALGREEN CO COM 931422109 959,895 25,302 X 01 25,302 0 0
WASHINGTON MUT INC COM 939322103 577,958 14,517 X 01 14,517 0 0
WASTE MGMT INC COM 94106L109 271,694 15,581 X 01 15,581 0 0
WELLS FARGO & CO COM 949746101 1,906,958 41,512 X 01 41,512 0 0
WEYERHAEUSER CO COM 962166104 238,414 5,905 X 01 5,905 0 0
WILLIAMS COS INC COM 969457100 461,877 10,932 X 01 10,932 0 0
WORLDCOM INC COM 98157D106 2,167,894 71,371 X 01 71,371 0 0
WRIGLEY WM JR CO COM 982526105 217,961 2,911 X 01 2,911 0 0
XCEL ENERGY INC COM 98389B100 230,890 8,396 X 01 8,396 0 0
XILINX INC COM 983919101 691,764 8,079 X 01 8,079 0 0
XEROX CORP COM 984121103 251,589 16,703 X 01 16,703 0 0
YAHOO INC COM 984332106 1,236,599 13,589 X 01 13,589 0 0
294,081,304
264 ITEMS
</TABLE>
