UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F
FORM 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: March 31, 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:
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 April 12, 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: 1,176
Form 13F Information Table Value Total: $9,187,062,320
List of Other Included Managers:
No. 13F File Number Name
<PAGE>
<TABLE>
THE 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/PRIINV DISCRETION MGR VOTING AUTHORITY (SHARES)
CLASS NUMBER SOLE SHRD OTHR A-SOLE B-SHRC-NONE
GLOBAL CROSSING LTD COM G3921A100 10,355,550 252,960 X 01 252,960 0 0
SANTA FE INTERNATIONAL CORP ORD G7805C108 6,907,900 186,700 X 01 186,700 0 0
TRANSOCEAN SEDCO FOREX INC ORD G90078109 7,830,749 152,609 X 01 152,609 0 0
AUDIO CODES LTD ORD M15342104 3,282,263 32,700 X 01 32,700 0 0
CHECK POINT SOFTWARE ORD M22465104 4,002,863 23,400 X 01 23,400 0 0
COMMTOUCH SOFTWARE LIMITED ORD M25596103 5,035,688 107,000 X 01 107,000 0 0
FLEXTRONICS INTERNATIONAL ORD Y2573F102 6,057,625 86,000 X 01 86,000 0 0
AT & T CORP COM 001957109 70,124,906 1,246,665 X 01 1,246,665 0 0
AVX CORP COM 002444107 8,794,250 116,000 X 01 116,000 0 0
ACTIVCARD SA SPONSORED ADR 00505N109 1,837,138 43,100 X 01 43,100 0 0
ADOBE SYSTEMS INC COM 00724F101 23,509,200 211,200 X 01 211,200 0 0
ADVANCED DIGITAL INFORMATION COM 007525108 5,206,000 152,000 X 01 152,000 0 0
ADVANCED FIBRE COMMUNICATIONS COM 00754A105 7,867,281 125,500 X 01 125,500 0 0
ADVANCED MICRO DEVICES INC COM 007903107 35,549,938 623,000 X 01 623,000 0 0
ADVENT SOFTWARE INC COM 007974108 4,844,400 105,600 X 01 105,600 0 0
AETHER SYSTEMS INC COM 00808V105 2,958,450 16,300 X 01 16,300 0 0
AFFYMETRIX INC COM 00826T108 13,285,156 89,500 X 01 89,500 0 0
AGILENT TECHNOLOGIES INC COM 00846U101 7,945,600 76,400 X 01 76,400 0 0
AGILE SOFTWARE CORP COM 00846X105 3,968,750 63,500 X 01 63,500 0 0
ALCOA INC COM 013817101 10,734,200 152,800 X 01 152,800 0 0
ALLEGIANCE TELECOM INC COM 01747T102 8,211,656 101,850 X 01 101,850 0 0
ALTERA CORP COM 021441100 16,181,025 181,300 X 01 181,300 0 0
ALTEON WEBSYSTEMS INC COM 02145A109 5,822,000 71,000 X 01 71,000 0 0
AMERICA ONLINE INC COM 02364J104 40,524,850 602,600 X 01 602,600 0 0
AMERICAN EXPRESS CO COM 025816109 23,010,844 154,500 X 01 154,500 0 0
AMERICAN TOWER CORP CL A 029912201 11,578,438 234,500 X 01 234,500 0 0
AMGEN INC COM 031162100 18,989,425 309,400 X 01 309,400 0 0
AMKOR TECHNOLOGY INC COM 031652100 7,312,013 137,800 X 01 137,800 0 0
ANADARKO PETE CORP COM 032511107 7,431,869 192,100 X 01 192,100 0 0
ANALOG DEVICES INC COM 032654105 28,519,125 354,000 X 01 354,000 0 0
ANDRX CORP COM 034551101 15,349,950 132,900 X 01 132,900 0 0
APACHE CORP COM 037411105 15,382,700 309,200 X 01 309,200 0 0
APPLE COMPUTER COM 037833100 20,657,081 152,100 X 01 152,100 0 0
APPLIED MICRO CIRCUITS CORP COM 03822W109 42,017,500 280,000 X 01 280,000 0 0
APPLIED MATERIALS INC COM 038222105 40,885,650 433,800 X 01 433,800 0 0
ARIBA INC COM 04033V104 6,917,625 33,000 X 01 33,000 0 0
ASPECT COMMUNICATIONS INC COM 04523Q102 3,717,369 100,300 X 01 100,300 0 0
ASYST TECHNOLOGIES INC COM 04648X107 7,897,500 135,000 X 01 135,000 0 0
ATMEL CORP COM 049513104 17,108,525 331,400 X 01 331,400 0 0
BJS WHSL CLUB INC COM 05548J106 6,261,113 162,100 X 01 162,100 0 0
BJ SVCS CO COM 055482103 14,398,238 194,900 X 01 194,900 0 0
BEA SYSTEMS INC COM 073325102 11,784,025 160,600 X 01 160,600 0 0
BEST BUY CO INC COM 086516101 7,301,400 84,900 X 01 84,900 0 0
BIOGEN INC COM 090597105 6,009,250 86,000 X 01 86,000 0 0
BOEING CO COM 097023105 10,937,381 288,300 X 01 288,300 0 0
BORDERS GROUP INC COM 099709107 5,900,469 343,300 X 01 343,300 0 0
BROADCOM CORP CL A 111320107 10,055,025 41,400 X 01 41,400 0 0
BROADVISION INC COM 111412102 7,040,888 156,900 X 01 156,900 0 0
BROCADE COMMUNICATIONS SYS INC COM 111621108 7,674,575 42,800 X 01 42,800 0 0
BURR BROWN COM 122574106 6,900,188 126,900 X 01 126,900 0 0
CBS CORP COM 12490K107 30,475,575 538,200 X 01 538,200 0 0
CABLETRON SYSTEMS INC COM 126920107 9,201,194 313,900 X 01 313,900 0 0
CALIPER TECHNOLOGIES CORP COM 130876105 3,146,038 38,900 X 01 38,900 0 0
CALPINE CORP COM 131347106 2,594,400 27,600 X 01 27,600 0 0
CEPHALON INC COM 156708109 7,162,500 191,000 X 01 191,000 0 0
CHARTERED SEMICONDUCTOR MFG ADR 16133R106 10,895,300 115,600 X 01 115,600 0 0
CHASE MANHATTAN CORP COM 16161A108 31,248,000 358,400 X 01 358,400 0 0
CHIRON CORP COM 170040109 9,376,500 188,000 X 01 188,000 0 0
CIENA CORP COM 171779101 13,924,200 110,400 X 01 110,400 0 0
CISCO SYSTEMS INC COM 17275R102 167,304,250 2,164,000 X 01 2,164,000 0 0
CITIGROUP INC COM 172967101 83,084,950 1,400,800 X 01 1,400,800 0 0
CITRIX SYS INC COM 177376100 9,778,500 147,600 X 01 147,600 0 0
COASTAL CORP COM 190441105 4,756,400 103,400 X 01 103,400 0 0
COMMERCE ONE INC COM 200693109 3,253,650 21,800 X 01 21,800 0 0
COMVERSE TECHNOLOGY INC COM 205862402 3,950,100 20,900 X 01 20,900 0 0
CONEXANT SYS INC COM 207142100 6,098,900 85,900 X 01 85,900 0 0
COOPER CAMERON CORP COM 216640102 11,522,563 172,300 X 01 172,300 0 0
CORNING INC COM 219350105 28,207,600 145,400 X 01 145,400 0 0
COVAD COMMUNICATIONS GROUP INC COM 222814204 6,829,500 94,200 X 01 94,200 0 0
CREDENCE SYSTEMS CORP COM 225302108 12,675,163 101,300 X 01 101,300 0 0
CREE INC COM 225447101 6,129,113 54,300 X 01 54,300 0 0
CROSSROADS SYSTEMS INC COM 22765D100 3,923,500 38,000 X 01 38,000 0 0
CROWN CASTLE INTL CORP COM 228227104 17,770,950 469,200 X 01 469,200 0 0
CYPRESS SEMICONDUCTOR CORP COM 232806109 25,031,025 507,600 X 01 507,600 0 0
DII GROUP INC COM 232949107 7,688,250 68,000 X 01 68,000 0 0
DAIN RAUSCHER CORP COM 233856103 2,512,219 38,100 X 01 38,100 0 0
DELL COMPUTER CORP COM 247025109 50,199,631 930,700 X 01 930,700 0 0
DEVON ENERGY CORPORATION COM 25179M103 10,300,106 212,100 X 01 212,100 0 0
DISNEY WALT CO COM 254687106 15,627,338 377,700 X 01 377,700 0 0
E M C CORP COM 268648102 65,850,000 526,800 X 01 526,800 0 0
EASTMAN KODAK CO COM 277461109 12,198,588 224,600 X 01 224,600 0 0
EBAY INC COM 278642103 26,294,400 149,400 X 01 149,400 0 0
EMULEX CORP COM 292475209 3,884,850 35,600 X 01 35,600 0 0
ENTRUST TECHNOLOGIES INC COM 293848107 6,431,906 75,600 X 01 75,600 0 0
ENZON INC COM 293904108 9,998,494 265,300 X 01 265,300 0 0
EPCOS AG ADR 29410P107 8,711,500 66,500 X 01 66,500 0 0
EXODUS COMMUNICATIONS INC COM 302088109 51,310,600 365,200 X 01 365,200 0 0
EXTREME NETWORKS INC COM 30226D106 4,424,000 56,000 X 01 56,000 0 0
EXXON MOBIL CORP COM 30231G102 34,050,750 437,600 X 01 437,600 0 0
FINISAR CORP COM 31787A101 7,853,238 53,600 X 01 53,600 0 0
GADZOOX NETWORKS INC COM 362555104 5,263,538 109,800 X 01 109,800 0 0
GENENTECH INC COM 368710406 11,050,400 72,700 X 01 72,700 0 0
GENERAL ELECTRIC CO COM 369604103 112,200,563 723,000 X 01 723,000 0 0
GLOBAL MARINE INC COM 379352404 5,166,350 203,600 X 01 203,600 0 0
GLOBESPAN SEMICONDUCTOR INC COM 379571102 8,848,175 86,800 X 01 86,800 0 0
GOLDMAN SACHS GROUP INC COM 38141G104 14,002,650 133,200 X 01 133,200 0 0
GO2NET COM 383486107 7,556,763 93,800 X 01 93,800 0 0
GRAINGER W W INC COM 384802104 5,614,875 103,500 X 01 103,500 0 0
HALLIBURTON CO COM 406216101 11,881,800 289,800 X 01 289,800 0 0
HARMONIC INC COM 413160102 3,879,450 46,600 X 01 46,600 0 0
HEWLETT PACKARD CO COM 428236103 17,829,656 134,500 X 01 134,500 0 0
HUMAN GENOME SCIENCES INC COM 444903108 9,460,819 113,900 X 01 113,900 0 0
IMMUNEX CORP COM 452528102 7,669,594 120,900 X 01 120,900 0 0
INFINEON TECHNOLOGIES AG SPONSORED ADR 45662N103 327,394 5,700 X 01 5,700 0 0
INFINITY BROADCASTING CORP CL A 45662S102 18,194,750 562,000 X 01 562,000 0 0
INFORMIX CORP COM 456779107 6,978,250 412,000 X 01 412,000 0 0
INFOSPACECOM INC COM 45678T102 6,079,288 41,800 X 01 41,800 0 0
INKTOMI CORP COM 457277101 24,414,000 125,200 X 01 125,200 0 0
INTEGRATED DEVICE TECHNOLOGY COM 458118106 8,824,488 222,700 X 01 222,700 0 0
INTEL CORP COM 458140100 150,778,175 1,142,800 X 01 1,142,800 0 0
INTERMEDIA COMMUNICATIONS INC COM 458801107 6,309,613 130,600 X 01 130,600 0 0
INTERNATIONAL BUSINESS MACHS COM 459200101 87,202,000 739,000 X 01 739,000 0 0
INTERNATIONAL RECTIFIER CORP COM 460254105 9,150,000 240,000 X 01 240,000 0 0
INTERSIL HLDG CORP CL A 46069S109 1,907,269 36,900 X 01 36,900 0 0
I2 TECHNOLOGIES INC COM 465754109 5,434,563 44,500 X 01 44,500 0 0
JDS UNIPHASE CORP COM 46612J101 48,775,730 404,568 X 01 404,568 0 0
JABIL CIRCUIT INC COM 466313103 4,316,350 99,800 X 01 99,800 0 0
JUNIPER NETWORKS INC COM 48203R104 11,306,831 42,900 X 01 42,900 0 0
KLA TENCOR CORP COM 482480100 18,686,650 221,800 X 01 221,800 0 0
KEMET CORP COM 488360108 8,924,575 141,100 X 01 141,100 0 0
KERR MCGEE CORP COM 492386107 9,528,750 165,000 X 01 165,000 0 0
KULICKE & SOFFA INDS INC COM 501242101 5,451,719 85,100 X 01 85,100 0 0
LSI LOGIC CORP COM 502161102 61,484,325 846,600 X 01 846,600 0 0
LTX CORP COM 502392103 6,303,656 139,500 X 01 139,500 0 0
LAM RESH CORP COM 512807108 13,059,113 289,800 X 01 289,800 0 0
LAMAR ADVERTISING CO CL A 512815101 4,782,050 105,100 X 01 105,100 0 0
LATTICE SEMICONDUCTOR CORP COM 518415104 8,603,081 127,100 X 01 127,100 0 0
LEGG MASON INC COM 524901105 9,457,305 218,666 X 01 218,666 0 0
LEHMAN BROTHERS HLDGS INC COM 524908100 38,285,900 394,700 X 01 394,700 0 0
LEVEL 3 COMMUNICATIONS INC COM 52729N100 19,542,600 184,800 X 01 184,800 0 0
LINEAR TECHNOLOGY CORP COM 535678106 8,162,000 148,400 X 01 148,400 0 0
MTI TECHNOLOGY CORP COM 553903105 3,845,475 145,800 X 01 145,800 0 0
MACROMEDIA INC COM 556100105 7,306,281 80,900 X 01 80,900 0 0
MCLEODUSA INC COM 582266102 6,106,500 72,000 X 01 72,000 0 0
MEDIAONE GROUP INC COM 58440J104 16,888,500 208,500 X 01 208,500 0 0
MEDIMMUNE INC COM 584699102 13,825,525 79,400 X 01 79,400 0 0
MERCURY INTERACTIVE CORP COM 589405109 14,740,500 186,000 X 01 186,000 0 0
MERRILL LYNCH & CO INC COM 590188108 23,814,000 226,800 X 01 226,800 0 0
METROMEDIA FIBER NETWORK INC CL A 591689104 8,059,275 83,300 X 01 83,300 0 0
MICREL INC COM 594793101 19,536,000 203,500 X 01 203,500 0 0
MICROSOFT CORP COM 594918104 206,820,406 1,946,545 X 01 1,946,545 0 0
MICROCHIP TECHNOLOGY INC COM 595017104 9,566,625 145,500 X 01 145,500 0 0
MICROMUSE INC COM 595094103 14,158,875 102,000 X 01 102,000 0 0
MICRON TECHNOLOGY INC COM 595112103 30,252,600 240,100 X 01 240,100 0 0
MILLENNIUM PHARMACEUTICALS COM 599902103 12,532,938 96,500 X 01 96,500 0 0
MORGAN STANLEY DEAN WITTER & COCOM 617446448 40,079,813 491,400 X 01 491,400 0 0
MOTOROLA INC COM 620076109 54,102,500 380,000 X 01 380,000 0 0
MYRIAD GENETICS INC COM 62855J104 2,150,925 35,700 X 01 35,700 0 0
NATIONAL SEMICONDUCTOR CORP COM 637640103 20,321,500 335,200 X 01 335,200 0 0
NETWORK SOLUTIONS INC COM 64121Q102 4,979,981 32,400 X 01 32,400 0 0
NEWFIELD EXPL CO COM 651290108 9,059,250 257,000 X 01 257,000 0 0
NEXTEL COMMUNICATIONS INC CL A 65332V103 18,071,675 121,900 X 01 121,900 0 0
NEXTEL PARTNERS INC CL A 65333F107 9,799,100 337,900 X 01 337,900 0 0
NEXTLINK COMMUNICATIONS INC CL A 65333H707 13,741,681 111,100 X 01 111,100 0 0
NOKIA CORP SPONSORED ADR 654902204 20,573,575 94,700 X 01 94,700 0 0
NOBLE DRILLING CORP COM 655042109 11,652,225 281,200 X 01 281,200 0 0
NORTEL NETWORKS CORP COM 656569100 65,331,000 518,500 X 01 518,500 0 0
NVIDIA CORP COM 67066G104 9,039,828 107,000 X 01 107,000 0 0
OMNICOM GROUP COM 681919106 8,530,844 91,300 X 01 91,300 0 0
ORACLE CORP COM 68389X105 77,672,188 995,000 X 01 995,000 0 0
ORAPHARMA INC COM 68554E106 1,565,100 84,600 X 01 84,600 0 0
PMC SIERRA INC COM 69344F106 34,300,975 168,400 X 01 168,400 0 0
PARADYNE CORP COM 69911G107 7,058,700 227,700 X 01 227,700 0 0
PHONE.COM INC COM 71920Q100 6,851,250 42,000 X 01 42,000 0 0
PINNACLE HLDGS INC COM 72346N101 5,106,250 95,000 X 01 95,000 0 0
PORTAL SOFTWARE INC COM 736126103 4,327,250 76,000 X 01 76,000 0 0
POWER INTEGRATIONS COM 739276103 3,902,500 156,100 X 01 156,100 0 0
POWERWAVE TECHNOLOGIES INC COM 739363109 7,600,000 60,800 X 01 60,800 0 0
PREMIER NATL BANCORP INC COM 74053F107 4,236,800 280,119 X 01 280,119 0 0
PRICELINE.COM INC COM 741503106 12,768,000 159,600 X 01 159,600 0 0
PRIMUS TELECOMM GROUP INC COM 741929103 12,529,050 242,400 X 01 242,400 0 0
PROXIM INC COM 744284100 17,546,188 146,600 X 01 146,600 0 0
QLOGIC CORP COM 747277101 7,574,450 55,900 X 01 55,900 0 0
QUALCOMM INC COM 747525103 40,553,275 271,600 X 01 271,600 0 0
QWEST COMMUNICATIONS INTL INC COM 749121109 39,881,550 822,300 X 01 822,300 0 0
RCN CORP COM 749361101 4,353,100 80,800 X 01 80,800 0 0
RF MICRO DEVICES INC COM 749941100 12,711,875 94,600 X 01 94,600 0 0
RATIONAL SOFTWARE CORP COM 75409P202 7,726,500 101,000 X 01 101,000 0 0
REALNETWORKS INC COM 75605L104 3,382,088 59,400 X 01 59,400 0 0
REGENERON PHARMACEUTICALS INC COM 75886F107 6,098,744 206,300 X 01 206,300 0 0
REMEDY CORP COM 759548100 4,267,263 101,300 X 01 101,300 0 0
ROYAL DUTCH PETE CO NY REG 780257804 24,504,356 425,700 X 01 425,700 0 0
SDL INC COM 784076101 7,706,075 36,200 X 01 36,200 0 0
SAGA SYS INC COM 786610105 15,236,650 426,200 X 01 426,200 0 0
SANDISK CORP COM 80004C101 9,506,000 77,600 X 01 77,600 0 0
SANMINA CORP COM 800907107 8,877,713 131,400 X 01 131,400 0 0
SCHLUMBERGER LTD COM 806857108 20,517,300 268,200 X 01 268,200 0 0
SCHWAB CHARLES CORP COM 808513105 14,742,844 259,500 X 01 259,500 0 0
SCIENTIFIC ATLANTA INC COM 808655104 21,200,813 334,200 X 01 334,200 0 0
SEMTECH CORP COM 816850101 13,952,813 217,800 X 01 217,800 0 0
SEPRACOR INC COM 817315104 8,810,313 121,000 X 01 121,000 0 0
SIEBEL SYS INC COM 826170102 25,655,175 214,800 X 01 214,800 0 0
SONERA GROUP PLC SPONSORED ADR 835433202 5,907,375 89,000 X 01 89,000 0 0
SPRINT CORP PCS COM 852061506 22,676,500 347,200 X 01 347,200 0 0
ST ASSEMBLY TEST SVCS LTD ADR 85227G102 7,275,000 150,000 X 01 150,000 0 0
STARBUCKS CORP COM 855244109 13,443,750 300,000 X 01 300,000 0 0
STMICROELECTRONICS N V COM 861012102 4,754,563 25,400 X 01 25,400 0 0
SUN MICROSYSTEMS INC COM 866810104 52,923,525 564,800 X 01 564,800 0 0
SYBASE INC COM 871130100 11,318,125 557,200 X 01 557,200 0 0
SYMANTEC CORP COM 871503108 19,096,775 254,200 X 01 254,200 0 0
TAIWAN SEMICNDCTR MFG CO LTD SPONSORED ADR 874039100 7,917,300 138,900 X 01 138,900 0 0
TALISMAN ENERGY INC COM 87425E103 14,315,525 501,200 X 01 501,200 0 0
TENET HEALTHCARE CORP COM 88033G100 8,976,900 390,300 X 01 390,300 0 0
TERADYNE INC COM 880770102 22,824,375 277,500 X 01 277,500 0 0
TEXAS INSTRS INC COM 882508104 52,448,000 327,800 X 01 327,800 0 0
3COM CORP COM 885535104 13,172,000 236,800 X 01 236,800 0 0
TIBCO SOFTWARE INC COM 88632Q103 12,200,550 149,700 X 01 149,700 0 0
TIME WARNER INC COM 887315109 44,120,000 441,200 X 01 441,200 0 0
TIME WARNER TELECOM INC CL A 887319101 16,679,100 209,800 X 01 209,800 0 0
TRANSWITCH CORP COM 894065101 15,327,131 159,450 X 01 159,450 0 0
TRITON PCS HLDGS INC CL A 89677M106 6,333,500 106,000 X 01 106,000 0 0
U S WEST INC COM 91273H101 11,162,463 153,700 X 01 153,700 0 0
U S TRUST CORP COM 91288L105 2,835,000 15,000 X 01 15,000 0 0
VASTAR RES INC COM 922380100 11,302,931 152,100 X 01 152,100 0 0
VERISIGN INC COM 92343E102 11,930,100 79,800 X 01 79,800 0 0
VERITAS SOFTWARE CORP COM 923436109 17,426,275 133,025 X 01 133,025 0 0
VERTEX PHARMACEUTICALS INC COM 92532F100 4,615,713 98,600 X 01 98,600 0 0
VERTICALNET INC COM 92532L107 4,855,200 35,700 X 01 35,700 0 0
VIACOM INC CL B 925524308 7,870,300 149,200 X 01 149,200 0 0
VISHAY INTERTECHNOLOGY INC COM 928298108 9,968,000 179,200 X 01 179,200 0 0
VITRIA TECHNOLOGY INC COM 92849Q104 9,496,538 94,200 X 01 94,200 0 0
VITESSE SEMICONDUCTOR CORP COM 928497106 21,829,500 226,800 X 01 226,800 0 0
WILLIAMS COMMUNICATIONS GROUP CL A 969455104 2,176,125 42,000 X 01 42,000 0 0
WINSTAR COMMUNICATIONS INC COM 975515107 12,426,000 207,100 X 01 207,100 0 0
XILINX INC COM 983919101 63,765,625 770,000 X 01 770,000 0 0
YAHOO INC COM 984332106 33,006,825 192,600 X 01 192,600 0 0
YOUNG & RUBICAM INC COM 987425105 850,700 18,100 X 01 18,100 0 0
4,065,084,218
227 ITEMS
</TABLE>
<TABLE>
THE 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/PRINV DISCRETION MGR VOTING AUTHORITY (SHARES)
CLASS NUMBER SOLE SHRD OTHR A-SOLE B-SHRC-NONE
FLAG TELECOM HOLDINGS LTD ORD G3529L102 384,625 17,000 X 01 17,000 0 0
INTERWAVE COMM INTL LTD ORD G4911N102 250,038 8,300 X 01 8,300 0 0
OPENTV CORP CL A G67543101 639,225 5,400 X 01 5,400 0 0
SANTA FE INTERNATIONAL CORP ORD G7805C108 421,800 11,400 X 01 11,400 0 0
AUDIO CODES LTD ORD M15342104 772,888 7,700 X 01 7,700 0 0
COMMTOUCHSOFTWARE LIMITED ORD M25596103 338,850 7,200 X 01 7,200 0 0
METALINK LTD ORD M69897102 560,275 14,600 X 01 14,600 0 0
M SYS FLASH DISK PIONEERS LTORD M7061C100 371,000 7,000 X 01 7,000 0 0
RADVISION LTD ORD M81869105 277,588 5,300 X 01 5,300 0 0
FLEXTRONICS INTERNATIONAL ORD Y2573F102 859,338 12,200 X 01 12,200 0 0
AVX CORP COM 002444107 523,106 6,900 X 01 6,900 0 0
ACME COMMUNICATIONS INC COM 004631107 240,188 10,500 X 01 10,500 0 0
ACTIVCARD SA SPONSORED ADR 00505N109 251,488 5,900 X 01 5,900 0 0
ADELPHIA COMMUNICATIONS CORPCL A 006848105 725,200 14,800 X 01 14,800 0 0
ADVANCED MICRO DEVICES INC COM 007903107 1,540,688 27,000 X 01 27,000 0 0
ADVANCED ENERGY INDS INC COM 007973100 561,000 11,000 X 01 11,000 0 0
AETHER SYSTEMS INC COM 00808V105 1,361,250 7,500 X 01 7,500 0 0
AFFYMETRIX INC COM 00826T108 341,406 2,300 X 01 2,300 0 0
AGILE SOFTWARE CORP COM 00846X105 212,500 3,400 X 01 3,400 0 0
AIRNET COMM CORP COM 00941P106 307,450 8,800 X 01 8,800 0 0
AKAMAI TECHNOLOGIES INC COM 00971T101 595,006 3,700 X 01 3,700 0 0
ALLEGIANCE TELECOM INC COM 01747T102 374,906 4,650 X 01 4,650 0 0
ALLERGAN INC COM 018490102 400,000 8,000 X 01 8,000 0 0
ALPHARMA INC CL A 020813101 503,475 13,700 X 01 13,700 0 0
ALTEON WEBSYSTEMS INC COM 02145A109 418,200 5,100 X 01 5,100 0 0
AMERICAN CAP STRATEGIES LTD COM 024937104 484,663 19,100 X 01 19,100 0 0
AMERICAN STD COS INC COM 029712106 262,700 7,100 X 01 7,100 0 0
AMERICAN TOWER CORP CL A 029912201 617,188 12,500 X 01 12,500 0 0
ANDRX CORP COM 034551101 635,250 5,500 X 01 5,500 0 0
APPLIED MICRO CIRCUITS CORP COM 03822W109 3,451,438 23,000 X 01 23,000 0 0
ASPECT MED SYS INC COM 045235108 358,750 10,000 X 01 10,000 0 0
ASYST TECHNOLOGIES INC COM 04648X107 526,500 9,000 X 01 9,000 0 0
AVANEX CORP COM 05348W109 819,450 5,400 X 01 5,400 0 0
BB&T CORP COM 054937107 931,675 33,200 X 01 33,200 0 0
BJS WHSL CLUB INC COM 05548J106 1,127,850 29,200 X 01 29,200 0 0
BJ SVCS CO COM 055482103 2,519,138 34,100 X 01 34,100 0 0
BEA SYSTEMS INC COM 073325102 381,550 5,200 X 01 5,200 0 0
BOWATER INC COM 102183100 330,925 6,200 X 01 6,200 0 0
BROADVISION INC COM 111412102 834,675 18,600 X 01 18,600 0 0
BURR BROWN COM 122574106 448,594 8,250 X 01 8,250 0 0
CTC COMMUNICATIONS GROUP INCCOM 126419100 447,563 10,500 X 01 10,500 0 0
CABOT CORP COM 127055101 942,450 30,900 X 01 30,900 0 0
CADIZ INC COM 127537108 382,500 45,000 X 01 45,000 0 0
CALIPER TECHNOLOGIES CORP COM 130876105 452,900 5,600 X 01 5,600 0 0
CALPINE CORP COM 131347106 695,600 7,400 X 01 7,400 0 0
CAMINUS CORP COM 133766105 362,000 18,100 X 01 18,100 0 0
CELGENE CORP COM 151020104 537,638 5,400 X 01 5,400 0 0
CHARTERED SEMICONDUCTOR MFG COM 16133R106 471,250 5,000 X 01 5,000 0 0
CITADEL COMMUNICATIONS CORP COM 172853202 1,569,375 37,200 X 01 37,200 0 0
CLARUS CORP DEL COM 182707109 282,500 4,000 X 01 4,000 0 0
COMCAST CORP CL A 200300200 1,226,645 28,280 X 01 28,280 0 0
COMERICA INC COM 200340107 695,125 16,600 X 01 16,600 0 0
COMMERCE BANCORP INC COM 200519106 634,180 17,140 X 01 17,140 0 0
COMMERCE ONE INC COM 200693109 462,675 3,100 X 01 3,100 0 0
COMMSCOPE INC COM 203372107 1,186,250 26,000 X 01 26,000 0 0
COMPASS BANCSHARES INC COM 20449H109 685,850 34,400 X 01 34,400 0 0
COMVERSE TECHNOLOGY INC COM 205862402 396,900 2,100 X 01 2,100 0 0
COOPER CAMERON CORP COM 216640102 441,375 6,600 X 01 6,600 0 0
COORS ADOLPH CO CL B 217016104 1,061,438 22,200 X 01 22,200 0 0
COVAD COMMUNICATIONS GROUP ICOM 222814204 398,750 5,500 X 01 5,500 0 0
COX COMMUNICATIONS INC CL A 224044107 1,072,093 22,105 X 01 22,105 0 0
COX RADIO INC CL A 224051102 856,800 10,200 X 01 10,200 0 0
CREDENCE SYSTEMS CORP COM 225302108 700,700 5,600 X 01 5,600 0 0
CREE INC COM 225447101 372,488 3,300 X 01 3,300 0 0
CRITICAL PATH INC COM 22674V100 858,500 10,100 X 01 10,100 0 0
CROSSROADS SYSTEMS INC COM 22765D100 299,425 2,900 X 01 2,900 0 0
CROWN CASTLE INTL CORP COM 228227104 545,400 14,400 X 01 14,400 0 0
CYPRESS SEMICONDUCTOR CORP COM 232806109 522,713 10,600 X 01 10,600 0 0
DII GROUP INC COM 232949107 1,040,175 9,200 X 01 9,200 0 0
DAIN RAUSCHER CORP COM 233856103 725,313 11,000 X 01 11,000 0 0
DIGITAL IMPACT INC COM 25385G106 241,825 6,800 X 01 6,800 0 0
DIGITAS INC COM 25388K104 433,650 17,700 X 01 17,700 0 0
DIME BANCORP INC COM 25429Q102 841,750 45,500 X 01 45,500 0 0
DYCOM INDS INC COM 267475101 1,023,750 21,000 X 01 21,000 0 0
E TEK DYNAMICS INC COM 269240107 1,623,225 6,900 X 01 6,900 0 0
ELCOR CHEM CORP COM 284443108 379,500 11,000 X 01 11,000 0 0
EMISPHERE TECHNOLOGIES INC COM 291345106 425,375 8,200 X 01 8,200 0 0
EMULEX CORP COM 292475209 316,463 2,900 X 01 2,900 0 0
ENERGY EAST CORP COM 29266M109 350,681 17,700 X 01 17,700 0 0
ENGAGE TECHNOLOGIES INC COM 292827102 328,144 4,300 X 01 4,300 0 0
ENTERCOM COMMUNICATIONS CORPCL A 293639100 754,800 14,800 X 01 14,800 0 0
ENTRUST TECHNOLOGIES INC COM 293848107 459,422 5,400 X 01 5,400 0 0
ENZON INC COM 293904108 335,419 8,900 X 01 8,900 0 0
EPCOS AG ADR 29410P107 707,400 5,400 X 01 5,400 0 0
EQUITABLE RESOURCES INC COM 294549100 416,756 9,300 X 01 9,300 0 0
ETHAN ALLEN INTERIORS INC COM 297602104 867,500 34,700 X 01 34,700 0 0
EXAR CORP COM 300645108 826,547 11,550 X 01 11,550 0 0
EXODUS COMMUNICATIONS INC COM 302088109 2,599,250 18,500 X 01 18,500 0 0
EXTENSITY INC COM 302255104 268,800 5,600 X 01 5,600 0 0
EXTREME NETWORKS INC COM 30226D106 355,500 4,500 X 01 4,500 0 0
FINISAR CORP COM 31787A101 908,397 6,200 X 01 6,200 0 0
FIRSTWORLD COMMUNICATIONS COM SER B 337625305 570,500 28,000 X 01 28,000 0 0
FLUOR CORP COM 343861100 437,100 14,100 X 01 14,100 0 0
GO2NET COM 383486107 249,744 3,100 X 01 3,100 0 0
GRIC COMMUNICATIONS INC COM 398081109 658,125 19,500 X 01 19,500 0 0
GRUPO TELEVISION SA DE CV ADR 40049J206 353,600 5,200 X 01 5,200 0 0
HARMONIC INC COM 413160102 316,350 3,800 X 01 3,800 0 0
HELIX TECHNOLOGY CORP COM 423319102 492,513 8,200 X 01 8,200 0 0
HENRY JACK & ASSOC INC COM 426281101 1,091,500 29,600 X 01 29,600 0 0
HISPANIC BROADCASTING CORP CL A 43357B104 566,250 5,000 X 01 5,000 0 0
HOOPER HOLMES INC COM 439104100 720,563 21,000 X 01 21,000 0 0
HUMAN GENOME SCIENCES INC COM 444903108 332,250 4,000 X 01 4,000 0 0
IDEC PHARMACEUTICALS CORP COM 449370105 451,950 4,600 X 01 4,600 0 0
ITC DELTA.COM COM 45031T104 366,938 10,300 X 01 10,300 0 0
INFOSPACE.COM INC COM 45678T102 363,594 2,500 X 01 2,500 0 0
INKTOMI CORP COM 457277101 2,145,000 11,000 X 01 11,000 0 0
INSIGHT COMMUNICATIONS INC CL A 45768V108 519,750 25,200 X 01 25,200 0 0
INTEGRATED DEVICE TECHNOLOGYCOM 458118106 519,088 13,100 X 01 13,100 0 0
THE INTERCEPT GROUP INC COM 45845L107 512,425 19,900 X 01 19,900 0 0
INTERNAP NETWORK SVCS CORP COM 45885A102 294,400 6,400 X 01 6,400 0 0
INTERNATIONAL RECTIFIER CORPCOM 460254105 457,500 12,000 X 01 12,000 0 0
INTERSIL HLDG CORP CL A 46069S109 982,063 19,000 X 01 19,000 0 0
INTERTRUST TECHNOLOGIES CORPCOM 46113Q109 314,500 7,400 X 01 7,400 0 0
INTERWOVEN INC COM 46114T102 417,050 3,800 X 01 3,800 0 0
INVESTMENT TECHNOLOGY GROUP COM 46145F105 482,925 13,700 X 01 13,700 0 0
IVAX CORP COM 465823102 1,113,163 40,850 X 01 40,850 0 0
JDS UNIPHASE CORP COM 46612J101 1,118,820 9,280 X 01 9,280 0 0
JOHNSON CTLS INC COM 478366107 335,188 6,200 X 01 6,200 0 0
JONES PHARMA INC COM 480236108 751,781 24,750 X 01 24,750 0 0
JUNIPER NETWORKS INC COM 48203R104 869,756 3,300 X 01 3,300 0 0
KLA TENCOR CORP COM 482480100 1,819,800 21,600 X 01 21,600 0 0
K V PHARMACEUTICAL COMPANY CL A 482740206 365,500 13,600 X 01 13,600 0 0
KANA COMMUNICATIONS INC COM 483600102 571,200 8,400 X 01 8,400 0 0
KEMET CORP COM 488360108 524,975 8,300 X 01 8,300 0 0
L 3 COMMUNICATIONS HLDG CORPCOM 502424104 608,400 11,700 X 01 11,700 0 0
LAM RESH CORP COM 512807108 527,231 11,700 X 01 11,700 0 0
LAMAR ADVERTISING CO CL A 512815101 445,900 9,800 X 01 9,800 0 0
LANTE CORP COM 516540101 218,700 7,200 X 01 7,200 0 0
LATTICE SEMICONDUCTOR CORP COM 518415104 453,506 6,700 X 01 6,700 0 0
LEAP WIRELESS INTL INC COM 521863100 394,750 4,000 X 01 4,000 0 0
LEARNING TREE INTL INC COM 522015106 273,350 7,700 X 01 7,700 0 0
LEGG MASON INC COM 524901105 540,625 12,500 X 01 12,500 0 0
LOUIS DREYFUS NAT GAS CORP COM 546011107 629,000 18,500 X 01 18,500 0 0
MACROMEDIA INC COM 556100105 1,562,406 17,300 X 01 17,300 0 0
MARSHALL & ILSLEY CORP COM 571834100 560,175 9,700 X 01 9,700 0 0
MARTIN MARIETTA MATLS INC COM 573284106 589,000 12,400 X 01 12,400 0 0
MAVERICK TUBE CORP COM 577914104 447,638 13,800 X 01 13,800 0 0
MEDICIS PHARMACEUTICAL CORP CL A 584690309 424,000 10,600 X 01 10,600 0 0
MERCURY INTERACTIVE CORP COM 589405109 554,750 7,000 X 01 7,000 0 0
METASOLV SOFTWARE INC COM 591393103 431,156 7,300 X 01 7,300 0 0
METROMEDIA FIBER NETWORK INCCL A 591689104 2,171,264 22,442 X 01 22,442 0 0
MICREL INC COM 594793101 422,400 4,400 X 01 4,400 0 0
MICROMUSE INC COM 595094103 555,250 4,000 X 01 4,000 0 0
MIDCOAST ENERGY RES INC COM 59563W104 298,100 17,600 X 01 17,600 0 0
MILLENNIUM PHARMACEUTICALS COM 599902103 519,500 4,000 X 01 4,000 0 0
NATIONAL COMPUTER SYS INC COM 635519101 1,197,700 23,600 X 01 23,600 0 0
NATIONAL FUEL GAS CO COM 636180101 329,763 7,400 X 01 7,400 0 0
NETRO CORP COM 64114R109 455,109 7,000 X 01 7,000 0 0
NETRATINGS INC COM 64116M108 206,981 8,300 X 01 8,300 0 0
NETWORK APPLIANCE INC COM 64120L104 1,754,300 21,200 X 01 21,200 0 0
NET2000 COMMUNICATION INC COM 64122G103 434,625 18,300 X 01 18,300 0 0
NEUBERGER BERMAN INC COM 641234109 549,656 19,500 X 01 19,500 0 0
NEUROCRINE BIOSCIENCES INC COM 64125C109 260,400 11,200 X 01 11,200 0 0
NEWFIELD EXPL CO COM 651290108 405,375 11,500 X 01 11,500 0 0
NEWPORT NEWS SHIPBUILDING INCOM 652228107 266,200 8,800 X 01 8,800 0 0
NEXTEL PARTNERS INC CL A 65333F107 626,400 21,600 X 01 21,600 0 0
NEXT LEVEL COMMUNICATIONS INCOM 65333U104 1,392,000 12,800 X 01 12,800 0 0
NVIDIA CORP COM 67066G104 650,530 7,700 X 01 7,700 0 0
OTG SOFTWARE INC COM 671059103 213,656 5,300 X 01 5,300 0 0
OPTIMAL ROBOTICS CORP CL A 68388R208 1,645,000 35,000 X 01 35,000 0 0
ORAPHARMA INC COM 68554E106 360,750 19,500 X 01 19,500 0 0
PALM INC COM 696642107 583,375 13,000 X 01 13,000 0 0
PEGASUS COMMUNICATIONS CORP CL A 705904100 478,550 3,400 X 01 3,400 0 0
PHILADELPHIA SUBN CORP COM 718009608 255,563 14,100 X 01 14,100 0 0
PHONE.COM INC COM 71920Q100 440,438 2,700 X 01 2,700 0 0
PINNACLE HLDGS INC COM 72346N101 537,500 10,000 X 01 10,000 0 0
PLEXUS CORP COM 729132100 1,738,913 26,100 X 01 26,100 0 0
PORTAL SOFTWARE INC COM 736126103 284,688 5,000 X 01 5,000 0 0
POWER INTEGRATIONS COM 739276103 245,000 9,800 X 01 9,800 0 0
POWERWAVE TECHNOLOGIES INC COM 739363109 462,500 3,700 X 01 3,700 0 0
PRIMUS TELECOMM GROUP INC COM 741929103 982,063 19,000 X 01 19,000 0 0
PROXIM INC COM 744284100 466,781 3,900 X 01 3,900 0 0
QLOGIC CORP COM 747277101 2,506,750 18,500 X 01 18,500 0 0
RF MICRO DEVICES INC COM 749941100 671,875 5,000 X 01 5,000 0 0
RADIO ONE INC CL A 75040P108 413,075 6,200 X 01 6,200 0 0
RATIONAL SOFTWARE CORP COM 75409P202 459,000 6,000 X 01 6,000 0 0
REALNETWORKS INC COM 75605L104 683,250 12,000 X 01 12,000 0 0
RELIASTAR FINL CORP COM 75952U103 365,850 10,800 X 01 10,800 0 0
RETEK INC COM 76128Q109 234,769 5,700 X 01 5,700 0 0
RICHMOND CNTY FINL CORP COM 764556106 296,700 18,400 X 01 18,400 0 0
SCI SYS INC COM 783890106 753,375 14,000 X 01 14,000 0 0
SDL INC COM 784076101 3,044,113 14,300 X 01 14,300 0 0
SPX CORP COM 784635104 455,750 4,000 X 01 4,000 0 0
SANDISK CORP COM 80004C101 857,500 7,000 X 01 7,000 0 0
SANMINA CORP COM 800907107 662,113 9,800 X 01 9,800 0 0
SAPIENT CORP COM 803062108 335,500 4,000 X 01 4,000 0 0
SCIENT CORP COM 80864H109 408,094 4,500 X 01 4,500 0 0
SCIENTIFIC ATLANTA INC COM 808655104 659,750 10,400 X 01 10,400 0 0
SELECTICA INC COM 816288104 300,050 3,400 X 01 3,400 0 0
SEMTECH CORP COM 816850101 416,406 6,500 X 01 6,500 0 0
SEPRACOR INC COM 817315104 334,938 4,600 X 01 4,600 0 0
7/24 SOLUTIONS INC COM 81788Q100 336,150 2,700 X 01 2,700 0 0
SHAW GROUP INC COM 820280105 497,025 14,100 X 01 14,100 0 0
SILICON IMAGE INC COM 82705T102 537,188 7,500 X 01 7,500 0 0
SILKNET SOFTWARE INC COM 827094103 258,906 2,500 X 01 2,500 0 0
SMITH INTL INC COM 832110100 542,500 7,000 X 01 7,000 0 0
SOUTHDOWN INC COM 841297104 607,700 10,300 X 01 10,300 0 0
SOUTHWEST BANCORPORATION COM 84476R109 567,575 29,200 X 01 29,200 0 0
SPANISH BROADCASTING SYS INCCL A 846425882 637,925 27,200 X 01 27,200 0 0
SPARTECH CORP COM 847220209 591,250 17,200 X 01 17,200 0 0
SPECTRASITE HLDGS INC COM 84760T100 353,906 12,500 X 01 12,500 0 0
SPINNAKER EXPL CO COM 84855W109 549,413 24,150 X 01 24,150 0 0
ST ASSEMBLY TEST SVCS LTD ADR 85227G102 489,850 10,100 X 01 10,100 0 0
STONE ENERGY CORP COM 861642106 458,025 9,300 X 01 9,300 0 0
SUPERGEN INC COM 868059106 508,800 10,600 X 01 10,600 0 0
SWIFT TRANSN INC COM 870756103 291,100 14,200 X 01 14,200 0 0
SYCAMORE NETWORKS INC COM 871206108 1,548,000 12,000 X 01 12,000 0 0
TCF FINANCIAL CORP COM 872275102 428,625 18,000 X 01 18,000 0 0
TELAXIS COMMUNICATIONS CORP COM 879202109 210,383 3,500 X 01 3,500 0 0
TELECORP PCS INC CL A 879299105 419,175 8,100 X 01 8,100 0 0
TENET HEALTHCARE CORP COM 88033G100 483,000 21,000 X 01 21,000 0 0
TEVA PHARMACEUTICAL INDS LTDADR 881624209 768,638 20,600 X 01 20,600 0 0
TIBCO SOFTWARE INC COM 88632Q103 521,600 6,400 X 01 6,400 0 0
TIME WARNER TELECOM INC CL A 887319101 636,000 8,000 X 01 8,000 0 0
TRANSWITCH CORP COM 894065101 1,528,388 15,900 X 01 15,900 0 0
TRITEL INC CL A 89675X104 336,600 8,800 X 01 8,800 0 0
TRITON PCS HLDGS INC CL A 89677M106 442,150 7,400 X 01 7,400 0 0
UNIONBANCAL CORP COM 908906100 498,881 18,100 X 01 18,100 0 0
UNITED STATIONERS INC COM 913004107 756,575 21,200 X 01 21,200 0 0
UTSTARCOM INC COM 918076100 413,731 5,300 X 01 5,300 0 0
VERISIGN INC COM 92343E102 1,973,400 13,200 X 01 13,200 0 0
VERITAS DGC INC COM 92343P107 641,250 22,800 X 01 22,800 0 0
VERTEX PHARMACEUTICALS INC COM 92532F100 304,281 6,500 X 01 6,500 0 0
VERTICALNET INC COM 92532L107 272,000 2,000 X 01 2,000 0 0
VIANT CORP COM 92553N107 415,400 12,400 X 01 12,400 0 0
VIRATA CORP COM 927646109 1,258,425 12,600 X 01 12,600 0 0
VITRIA TECHNOLOGY INC COM 92849Q104 685,525 6,800 X 01 6,800 0 0
WADDELL & REED FINL INC CL A 930059100 1,354,000 32,000 X 01 32,000 0 0
WATCHGUARD TECHNOLOGIES INC COM 941105108 540,000 6,000 X 01 6,000 0 0
WEBMETHODS INC COM 94768C108 1,037,913 4,300 X 01 4,300 0 0
WINSTAR COMMUNICATIONS INC COM 975515107 672,000 11,200 X 01 11,200 0 0
XILINX INC COM 983919101 2,964,688 35,800 X 01 35,800 0 0
YOUNG & RUBICAM INC COM 987425105 564,000 12,000 X 01 12,000 0 0
ZALE CORP COM 988858106 1,165,531 24,700 X 01 24,700 0 0
ZIONS BANCORP COM 989701107 657,675 15,800 X 01 15,800 0 0
157,273,326
235 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/PRIINV DISCRETIOMGR VOTING AUTHORITY (SHARES)
CLASS NUMBER SOLE SHRDOTHR A-SOLE B-SHRC-NONE
GLOBAL CROSSING LTD COM G3921A100 11,170,820 272,875 X 01 272,875 0 0
SANTA FE INTERNATIONAL CORP ORD G7805C108 7,451,800 201,400 X 01 201,400 0 0
TRANSOCEAN SEDCO FOREX INC ORD G90078109 8,444,755 164,575 X 01 164,575 0 0
AUDIO CODES LTD ORD M15342104 3,613,500 36,000 X 01 36,000 0 0
CHECK POINT SOFTWARE ORD M22465104 4,310,775 25,200 X 01 25,200 0 0
COMMTOUCH SOFTWARE LIMITED ORD M25596103 5,431,013 115,400 X 01 115,400 0 0
FLEXTRONICS INTERNATIONAL ORD Y2573F102 6,536,600 92,800 X 01 92,800 0 0
AT & T CORP COM 001957109 75,647,981 1,344,853 X 01 1,344,853 0 0
AVX CORP COM 002444107 9,484,144 125,100 X 01 125,100 0 0
ACTIVCARD SA SPONSORED ADR 00505N109 1,982,063 46,500 X 01 46,500 0 0
ADOBE SYSTEMS INC COM 00724F101 25,356,988 227,800 X 01 227,800 0 0
ADVANCED DIGITAL INFORMATION COM 007525108 5,617,000 164,000 X 01 164,000 0 0
ADVANCED FIBRE COMMUNICATIONS COM 00754A105 8,481,619 135,300 X 01 135,300 0 0
ADVANCED MICRO DEVICES INC COM 007903107 38,346,000 672,000 X 01 672,000 0 0
ADVENT SOFTWARE INC COM 007974108 5,248,100 114,400 X 01 114,400 0 0
AETHER SYSTEMS INC COM 00808V105 3,212,550 17,700 X 01 17,700 0 0
AFFYMETRIX INC COM 00826T108 14,324,219 96,500 X 01 96,500 0 0
AGILENT TECHNOLOGIES INC COM 00846U101 8,580,000 82,500 X 01 82,500 0 0
AGILE SOFTWARE CORP COM 00846X105 4,275,000 68,400 X 01 68,400 0 0
ALCOA INC COM 013817101 11,577,200 164,800 X 01 164,800 0 0
ALLEGIANCE TELECOM INC COM 01747T102 8,949,375 111,000 X 01 111,000 0 0
ALTERA CORP COM 021441100 17,466,225 195,700 X 01 195,700 0 0
ALTEON WEBSYSTEMS INC COM 02145A109 6,232,000 76,000 X 01 76,000 0 0
AMERICA ONLINE INC COM 02364J104 43,651,975 649,100 X 01 649,100 0 0
AMERICAN EXPRESS CO COM 025816109 24,812,988 166,600 X 01 166,600 0 0
AMERICAN TOWER CORP CL A 029912201 12,482,000 252,800 X 01 252,800 0 0
AMGEN INC COM 031162100 20,474,700 333,600 X 01 333,600 0 0
AMKOR TECHNOLOGY INC COM 031652100 7,885,088 148,600 X 01 148,600 0 0
ANADARKO PETE CORP COM 032511107 8,016,050 207,200 X 01 207,200 0 0
ANALOG DEVICES INC COM 032654105 30,613,750 380,000 X 01 380,000 0 0
ANDRX CORP COM 034551101 16,574,250 143,500 X 01 143,500 0 0
APACHE CORP COM 037411105 16,591,625 333,500 X 01 333,500 0 0
APPLE COMPUTER COM 037833100 22,273,250 164,000 X 01 164,000 0 0
APPLIED MICRO CIRCUITS CORP COM 03822W109 45,619,000 304,000 X 01 304,000 0 0
APPLIED MATERIALS INC COM 038222105 44,090,150 467,800 X 01 467,800 0 0
ARIBA INC COM 04033V104 7,462,650 35,600 X 01 35,600 0 0
ASPECT COMMUNICATIONS INC COM 04523Q102 4,006,456 108,100 X 01 108,100 0 0
ASYST TECHNOLOGIES INC COM 04648X107 8,482,500 145,000 X 01 145,000 0 0
ATMEL CORP COM 049513104 18,461,100 357,600 X 01 357,600 0 0
BJS WHSL CLUB INC COM 05548J106 6,755,513 174,900 X 01 174,900 0 0
BJ SVCS CO COM 055482103 15,580,238 210,900 X 01 210,900 0 0
BEA SYSTEMS INC COM 073325102 12,723,225 173,400 X 01 173,400 0 0
BEST BUY CO INC COM 086516101 7,877,600 91,600 X 01 91,600 0 0
BIOGEN INC COM 090597105 6,477,413 92,700 X 01 92,700 0 0
BOEING CO COM 097023105 11,794,769 310,900 X 01 310,900 0 0
BORDERS GROUP INC COM 099709107 6,362,813 370,200 X 01 370,200 0 0
BROADCOM CORP CL A 111320107 10,856,513 44,700 X 01 44,700 0 0
BROADVISION INC COM 111412102 7,592,850 169,200 X 01 169,200 0 0
BROCADE COMMUNICATIONS SYS INC COM 111621108 8,248,375 46,000 X 01 46,000 0 0
BURR BROWN COM 122574106 7,443,938 136,900 X 01 136,900 0 0
CBS CORP COM 12490K107 32,910,450 581,200 X 01 581,200 0 0
CABLETRONSYSTEMS INC COM 126920107 9,922,281 338,500 X 01 338,500 0 0
CALIPER TECHNOLOGIES CORP COM 130876105 3,388,663 41,900 X 01 41,900 0 0
CALPINE CORP COM 131347106 2,801,200 29,800 X 01 29,800 0 0
CEPHALON INC COM 156708109 7,728,750 206,100 X 01 206,100 0 0
CHARTERED SEMICONDUCTOR MFG ADR 16133R106 11,752,975 124,700 X 01 124,700 0 0
CHASE MANHATTAN CORP COM 16161A108 33,697,969 386,500 X 01 386,500 0 0
CHIRON CORP COM 170040109 9,975,000 200,000 X 01 200,000 0 0
CIENA CORP COM 171779101 15,021,488 119,100 X 01 119,100 0 0
CISCO SYSTEMS INC COM 17275R102 180,447,375 2,334,000 X 01 2,334,000 0 0
CITIGROUP INC COM 172967101 90,018,581 1,517,700 X 01 1,517,700 0 0
CITRIX SYS INC COM 177376100 10,547,000 159,200 X 01 159,200 0 0
COASTAL CORP COM 190441105 5,133,600 111,600 X 01 111,600 0 0
COMMERCE ONE INC COM 200693109 3,507,375 23,500 X 01 23,500 0 0
COMVERSE TECHNOLOGY INC COM 205862402 4,252,500 22,500 X 01 22,500 0 0
CONEXANT SYS INC COM 207142100 6,581,700 92,700 X 01 92,700 0 0
COOPER CAMERON CORP COM 216640102 12,465,500 186,400 X 01 186,400 0 0
CORNING INC COM 219350105 30,419,200 156,800 X 01 156,800 0 0
COVAD COMMUNICATIONS GROUP INC COM 222814204 7,358,750 101,500 X 01 101,500 0 0
CREDENCE SYSTEMS CORP COM 225302108 13,676,163 109,300 X 01 109,300 0 0
CREE INC COM 225447101 6,614,475 58,600 X 01 58,600 0 0
CROSSROADS SYSTEMS INC COM 22765D100 4,233,250 41,000 X 01 41,000 0 0
CROWN CASTLE INTL CORP COM 228227104 19,160,963 505,900 X 01 505,900 0 0
CYPRESS SEMICONDUCTOR CORP COM 232806109 27,003,525 547,600 X 01 547,600 0 0
DII GROUPINC COM 232949107 8,298,788 73,400 X 01 73,400 0 0
DAIN RAUSCHER CORP COM 233856103 2,723,219 41,300 X 01 41,300 0 0
DELL COMPUTER CORP COM 247025109 54,137,069 1,003,700 X 01 1,003,700 0 0
DEVON ENERGY CORPORATION COM 25179M103 11,111,100 228,800 X 01 228,800 0 0
DISNEY WALT CO COM 254687106 16,860,313 407,500 X 01 407,500 0 0
E M C CORP COM 268648102 72,975,000 583,800 X 01 583,800 0 0
EASTMAN KODAK CO COM 277461109 13,154,488 242,200 X 01 242,200 0 0
EBAY INC COM 278642103 28,371,200 161,200 X 01 161,200 0 0
EMULEX CORP COM 292475209 4,190,400 38,400 X 01 38,400 0 0
ENTRUST TECHNOLOGIES INC COM 293848107 6,865,805 80,700 X 01 80,700 0 0
ENZON INC COM 293904108 10,771,088 285,800 X 01 285,800 0 0
EPCOS AG ADR 29410P107 9,458,200 72,200 X 01 72,200 0 0
EXODUS COMMUNICATIONS INC COM 302088109 55,328,900 393,800 X 01 393,800 0 0
EXTREME NETWORKS INC COM 30226D106 4,819,000 61,000 X 01 61,000 0 0
EXXON MOBIL CORP COM 30231G102 36,727,500 472,000 X 01 472,000 0 0
FINISAR CORP COM 31787A101 8,468,603 57,800 X 01 57,800 0 0
GADZOOX NETWORKS INC COM 362555104 5,675,800 118,400 X 01 118,400 0 0
GENENTECH INC COM 368710406 11,916,800 78,400 X 01 78,400 0 0
GENERAL ELECTRIC CO COM 369604103 121,030,731 779,900 X 01 779,900 0 0
GLOBAL MARINE INC COM 379352404 5,572,350 219,600 X 01 219,600 0 0
GLOBESPAN SEMICONDUCTOR INC COM 379571102 9,551,544 93,700 X 01 93,700 0 0
GOLDMAN SACHS GROUP INC COM 38141G104 15,095,950 143,600 X 01 143,600 0 0
GO2NET COM 383486107 8,152,925 101,200 X 01 101,200 0 0
GRAINGER W W INC COM 384802104 6,054,300 111,600 X 01 111,600 0 0
HALLIBURTON CO COM 406216101 12,812,500 312,500 X 01 312,500 0 0
HARMONIC INC COM 413160102 4,187,475 50,300 X 01 50,300 0 0
HEWLETT PACKARD CO COM 428236103 19,248,075 145,200 X 01 145,200 0 0
HUMAN GENOME SCIENCES INC COM 444903108 10,208,381 122,900 X 01 122,900 0 0
IMMUNEX CORP COM 452528102 8,278,594 130,500 X 01 130,500 0 0
INFINEON TECHNOLOGIES AG SPONSORED ADR 45662N103 350,369 6,100 X 01 6,100 0 0
INFINITY BROADCASTING CORP CL A 45662S102 19,829,688 612,500 X 01 612,500 0 0
INFORMIX CORP COM 456779107 7,527,025 444,400 X 01 444,400 0 0
INFOSPACECOM INC COM 45678T102 6,559,231 45,100 X 01 45,100 0 0
INKTOMI CORP COM 457277101 26,364,000 135,200 X 01 135,200 0 0
INTEGRATED DEVICE TECHNOLOGY COM 458118106 9,517,925 240,200 X 01 240,200 0 0
INTEL CORP COM 458140100 164,961,456 1,250,300 X 01 1,250,300 0 0
INTERMEDIA COMMUNICATIONS INC COM 458801107 6,831,388 141,400 X 01 141,400 0 0
INTERNATIONAL BUSINESS MACHINESCOM 459200101 94,022,400 796,800 X 01 796,800 0 0
INTERNATIONAL RECTIFIER CORP COM 460254105 9,870,563 258,900 X 01 258,900 0 0
INTERSIL HOLDING CORP CL A 46069S109 2,062,331 39,900 X 01 39,900 0 0
I2 TECHNOLOGIES INC COM 465754109 5,862,000 48,000 X 01 48,000 0 0
JDS UNIPHASE CORP COM 46612J101 52,612,269 436,390 X 01 436,390 0 0
JABIL CIRCUIT INC COM 466313103 4,653,700 107,600 X 01 107,600 0 0
JUNIPER NETWORKS INC COM 48203R104 12,255,656 46,500 X 01 46,500 0 0
KLA TENCOR CORP COM 482480100 20,152,600 239,200 X 01 239,200 0 0
KEMET CORP COM 488360108 9,626,650 152,200 X 01 152,200 0 0
KERR MCGEE CORP COM 492386107 10,279,500 178,000 X 01 178,000 0 0
KULICKE & SOFFA INDS INC COM 501242101 5,880,938 91,800 X 01 91,800 0 0
LSI LOGIC CORP COM 502161102 66,393,775 914,200 X 01 914,200 0 0
LTX CORP COM 502392103 6,796,200 150,400 X 01 150,400 0 0
LAM RESH CORP COM 512807108 14,140,613 313,800 X 01 313,800 0 0
LAMAR ADVERTISING CO CL A 512815101 5,159,700 113,400 X 01 113,400 0 0
LATTICE SEMICONDUCTOR CORP COM 518415104 9,279,956 137,100 X 01 137,100 0 0
LEGG MASON INC COM 524901105 3,777,109 87,332 X 01 87,332 0 0
LEHMAN BROTHERS HLDGS INC COM 524908100 41,273,500 425,500 X 01 425,500 0 0
LEVEL 3 COMMUNICATIONS INC COM 52729N100 21,075,975 199,300 X 01 199,300 0 0
LINEAR TECHNOLOGY CORP COM 535678106 8,811,000 160,200 X 01 160,200 0 0
MTI TECHNOLOGY CORP COM 553903105 4,148,788 157,300 X 01 157,300 0 0
MACROMEDIA INC COM 556100105 7,884,281 87,300 X 01 87,300 0 0
MCLEODUSA INC COM 582266102 6,589,931 77,700 X 01 77,700 0 0
MEDIAONE GROUP INC COM 58440J104 18,208,800 224,800 X 01 224,800 0 0
MEDIMMUNE INC COM 584699102 14,992,163 86,100 X 01 86,100 0 0
MERCURY INTERACTIVE CORP COM 589405109 15,881,700 200,400 X 01 200,400 0 0
MERRILL LYNCH & CO INC COM 590188108 25,683,000 244,600 X 01 244,600 0 0
METROMEDIA FIBER NETWORK INC CL A 591689104 8,688,150 89,800 X 01 89,800 0 0
MICREL INC COM 594793101 21,072,000 219,500 X 01 219,500 0 0
MICROSOFT CORP COM 594918104 223,808,719 2,106,435 X 01 2,106,435 0 0
MICROCHIP TECHNOLOGY INC COM 595017104 10,326,038 157,050 X 01 157,050 0 0
MICROMUSE INC COM 595094103 15,352,663 110,600 X 01 110,600 0 0
MICRON TECHNOLOGY INC COM 595112103 32,634,000 259,000 X 01 259,000 0 0
MILLENNIUM PHARMACEUTICALS COM 599902103 13,532,975 104,200 X 01 104,200 0 0
MORGAN STANLEY DEAN WITTER & COCOM 617446448 43,211,813 529,800 X 01 529,800 0 0
MOTOROLA INC COM 620076109 58,373,750 410,000 X 01 410,000 0 0
MYRIAD GENETICS INC COM 62855J104 2,319,625 38,500 X 01 38,500 0 0
NATIONAL SEMICONDUCTOR CORP COM 637640103 21,915,938 361,500 X 01 361,500 0 0
NETWORK SOLUTIONS INC COM 64121Q102 5,379,609 35,000 X 01 35,000 0 0
NEWFIELD EXPL CO COM 651290108 10,018,050 284,200 X 01 284,200 0 0
NEXTEL COMMUNICATIONS INC CL A 65332V103 19,509,700 131,600 X 01 131,600 0 0
NEXTEL PARTNERS INC CL A 65333F107 10,576,300 364,700 X 01 364,700 0 0
NEXTLINK COMMUNICATIONS INC CL A 65333H707 14,830,131 119,900 X 01 119,900 0 0
NOKIA CORP SPONSORED ADR 654902204 22,289,850 102,600 X 01 102,600 0 0
NOBLE DRILLING CORP COM 655042109 12,605,288 304,200 X 01 304,200 0 0
NORTEL NETWORKS CORP COM 656569100 70,484,400 559,400 X 01 559,400 0 0
NVIDIA CORP COM 67066G104 9,749,497 115,400 X 01 115,400 0 0
OMNICOM GROUP COM 681919106 9,203,594 98,500 X 01 98,500 0 0
ORACLE CORP COM 68389X105 83,917,188 1,075,000 X 01 1,075,000 0 0
ORAPHARMA INC COM 68554E106 1,689,050 91,300 X 01 91,300 0 0
PMC SIERRA INC COM 69344F106 37,234,075 182,800 X 01 182,800 0 0
PARADYNE CORP COM 69911G107 7,613,600 245,600 X 01 245,600 0 0
PHONE.COM INC COM 71920Q100 7,405,875 45,400 X 01 45,400 0 0
PINNACLE HLDGS INC COM 72346N101 5,509,375 102,500 X 01 102,500 0 0
PORTAL SOFTWARE INC COM 736126103 4,668,875 82,000 X 01 82,000 0 0
POWER INTEGRATIONS COM 739276103 4,210,000 168,400 X 01 168,400 0 0
POWERWAVE TECHNOLOGIES INC COM 739363109 8,200,000 65,600 X 01 65,600 0 0
PREMIER NATL BANCORP INC COM 74053F107 4,114,986 272,065 X 01 272,065 0 0
PRICELINE.COM INC COM 741503106 13,768,000 172,100 X 01 172,100 0 0
PRIMUS TELECOMM GROUP INC COM 741929103 13,511,113 261,400 X 01 261,400 0 0
PROXIM INC COM 744284100 18,922,594 158,100 X 01 158,100 0 0
QLOGIC CORP COM 747277101 8,170,650 60,300 X 01 60,300 0 0
QUALCOMM INC COM 747525103 43,748,563 293,000 X 01 293,000 0 0
QWEST COMMUNICATIONS INTL INC COM 749121109 43,024,350 887,100 X 01 887,100 0 0
RCN CORP COM 749361101 4,697,900 87,200 X 01 87,200 0 0
RF MICRO DEVICES INC COM 749941100 13,719,688 102,100 X 01 102,100 0 0
RATIONAL SOFTWARE CORP COM 75409P202 8,338,500 109,000 X 01 109,000 0 0
REAL NETWORKS INC COM 75605L104 3,666,775 64,400 X 01 64,400 0 0
REGENERON PHARMACEUTICALS INC COM 75886F107 6,574,700 222,400 X 01 222,400 0 0
REMEDY CORP COM 759548100 4,604,263 109,300 X 01 109,300 0 0
ROYAL DUTCH PETE CO NY REG 780257804 26,444,213 459,400 X 01 459,400 0 0
SDL INC COM 784076101 8,302,125 39,000 X 01 39,000 0 0
SAGA SYS INC COM 786610105 16,427,125 459,500 X 01 459,500 0 0
SANDISK CORP COM 80004C101 10,241,000 83,600 X 01 83,600 0 0
SANMINA CORP COM 800907107 9,485,775 140,400 X 01 140,400 0 0
SCHLUMBERGER LTD COM 806857108 22,131,450 289,300 X 01 289,300 0 0
SCHWAB CHARLES CORP COM 808513105 15,969,994 281,100 X 01 281,100 0 0
SCIENTIFIC ATLANTA INC COM 808655104 22,989,750 362,400 X 01 362,400 0 0
SEMTECH CORP COM 816850101 15,048,281 234,900 X 01 234,900 0 0
SEPRACOR INC COM 817315104 9,538,438 131,000 X 01 131,000 0 0
SIEBEL SYS INC COM 826170102 27,828,938 233,000 X 01 233,000 0 0
SONERA GROUP PLC SPONSORED ADR 835433202 6,372,000 96,000 X 01 96,000 0 0
SPRINT CORP PCS COM 852061506 24,466,063 374,600 X 01 374,600 0 0
ST ASSEMBLY TEST SVCS LTD ADR 85227G102 7,886,100 162,600 X 01 162,600 0 0
STARBUCKS CORP COM 855244109 13,981,500 312,000 X 01 312,000 0 0
STMICROELECTRONICS N V COM 861012102 5,128,938 27,400 X 01 27,400 0 0
SUN MICROSYSTEMS INC COM 866810104 57,177,647 610,200 X 01 610,200 0 0
SYBASE INC COM 871130100 12,207,813 601,000 X 01 601,000 0 0
SYMANTEC CORP COM 871503108 20,606,788 274,300 X 01 274,300 0 0
TAIWAN SEMICNDCTR MFG CO LTD SPONSORED ADR 874039100 8,538,600 149,800 X 01 149,800 0 0
TALISMAN ENERGY INC COM 87425E103 15,440,888 540,600 X 01 540,600 0 0
TENET HEALTHCARE CORP COM 88033G100 9,680,700 420,900 X 01 420,900 0 0
TERADYNE INC COM 880770102 24,633,875 299,500 X 01 299,500 0 0
TEXAS INSTRS INC COM 882508104 56,368,000 352,300 X 01 352,300 0 0
3COM CORP COM 885535104 14,206,625 255,400 X 01 255,400 0 0
TIBCO SOFTWARE INC COM 88632Q103 13,170,400 161,600 X 01 161,600 0 0
TIME WARNER INC COM 887315109 47,570,000 475,700 X 01 475,700 0 0
TIME WARNER TELECOM INC CL A 887319101 17,990,850 226,300 X 01 226,300 0 0
TRANSWITCH CORP COM 894065101 16,538,306 172,050 X 01 172,050 0 0
TRITON PCS HLDGS INC CL A 89677M106 6,811,500 114,000 X 01 114,000 0 0
U S WEST INC COM 91273H101 12,033,963 165,700 X 01 165,700 0 0
U S TRUST CORP COM 91288L105 4,347,000 23,000 X 01 23,000 0 0
VASTAR RESOURCES INC COM 922380100 11,302,931 152,100 X 01 152,100 0 0
VERISIGN INC COM 92343E102 12,916,800 86,400 X 01 86,400 0 0
VERITAS SOFTWARE CORP COM 923436109 18,798,500 143,500 X 01 143,500 0 0
VERTEX PHARMACEUTICALS INC COM 92532F100 4,980,850 106,400 X 01 106,400 0 0
VERTICALNET INC COM 92532L107 5,236,000 38,500 X 01 38,500 0 0
VIACOM INC CL B 925524308 8,492,750 161,000 X 01 161,000 0 0
VISHAY INTERTECHNOLOGY INC COM 928298108 10,752,313 193,300 X 01 193,300 0 0
VITRIA TECHNOLOGY INC COM 92849Q104 10,242,550 101,600 X 01 101,600 0 0
VITESSE SEMICONDUCTOR CORP COM 928497106 23,677,500 246,000 X 01 246,000 0 0
WILLIAMS COMMUNICATIONS GROUP CL A 969455104 2,352,288 45,400 X 01 45,400 0 0
WINSTAR COMMUNICATIONS INC COM 975515107 13,410,000 223,500 X 01 223,500 0 0
XILINX INC COM 983919101 68,866,875 831,600 X 01 831,600 0 0
YAHOO INC COM 984332106 35,646,000 208,000 X 01 208,000 0 0
YOUNG & RUBICAM INC COM 987425105 921,200 19,600 X 01 19,600 0 0
4,385,284,907
227 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/PRINV DISCRETION MGR VOTING AUTHORITY (SHARES)
CLASS NUMBER SOLE SHRD OTHR A-SOLE B-SHRC-NONE
FLAG TELECOM HOLDINGS LTD ORD G3529L102 724,000 32,000 X 01 32,000 0 0
INTERWAVECOMM INTL LTD ORD G4911N102 451,875 15,000 X 01 15,000 0 0
OPENTV CORP CL A G67543101 1,136,400 9,600 X 01 9,600 0 0
SANTA FE INTERNATIONAL CORP ORD G7805C108 743,700 20,100 X 01 20,100 0 0
AUDIO CODES LTD ORD M15342104 1,324,950 13,200 X 01 13,200 0 0
COMMTOUCHSOFTWARE LIMITED ORD M25596103 847,125 18,000 X 01 18,000 0 0
METALINK LTD ORD M69897102 974,725 25,400 X 01 25,400 0 0
M SYS FLASH DISK PIONEERS LTDORD M7061C100 689,000 13,000 X 01 13,000 0 0
RADVISION LTD ORD M81869105 508,038 9,700 X 01 9,700 0 0
FLEXTRONICS INTERNATIONAL ORD Y2573F102 1,465,100 20,800 X 01 20,800 0 0
AVX CORP COM 002444107 894,588 11,800 X 01 11,800 0 0
ACME COMMUNICATIONS INC COM 004631107 423,188 18,500 X 01 18,500 0 0
ACTIVCARD SA SPONSORED ADR 00505N109 451,825 10,600 X 01 10,600 0 0
ADELPHIA COMMUNICATIONS CORP CL A 006848105 1,278,900 26,100 X 01 26,100 0 0
ADVANCED MICRO DEVICES INC COM 007903107 2,624,875 46,000 X 01 46,000 0 0
ADVANCED ENERGY INDS INC COM 007973100 969,000 19,000 X 01 19,000 0 0
AETHER SYSTEMS INC COM 00808V105 1,361,250 7,500 X 01 7,500 0 0
AFFYMETRIX INC COM 00826T108 608,594 4,100 X 01 4,100 0 0
AGILE SOFTWARE CORP COM 00846X105 375,000 6,000 X 01 6,000 0 0
AIRNET COMM CORP COM 00941P106 559,000 16,000 X 01 16,000 0 0
AKAMAI TECHNOLOGIES INC COM 00971T101 1,013,119 6,300 X 01 6,300 0 0
ALKERMES INC COM 01642T108 333,000 3,600 X 01 3,600 0 0
ALLEGIANCE TELECOM INC COM 01747T102 653,063 8,100 X 01 8,100 0 0
ALLERGAN INC COM 018490102 710,000 14,200 X 01 14,200 0 0
ALPHARMA INC CL A 020813101 870,975 23,700 X 01 23,700 0 0
ALTEON WEBSYSTEMS INC COM 02145A109 754,400 9,200 X 01 9,200 0 0
AMERICAN CAP STRATEGIES LTD COM 024937104 877,975 34,600 X 01 34,600 0 0
AMERICAN STD COS INC COM 029712106 455,100 12,300 X 01 12,300 0 0
AMERICAN TOWER CORP CL A 029912201 1,061,563 21,500 X 01 21,500 0 0
ANDRX CORP COM 034551101 1,097,250 9,500 X 01 9,500 0 0
APPLIED MICRO CIRCUITS CORP COM 03822W109 6,227,594 41,500 X 01 41,500 0 0
ASPECT MED SYS INC COM 045235108 645,750 18,000 X 01 18,000 0 0
ASYST TECHNOLOGIES INC COM 04648X107 994,500 17,000 X 01 17,000 0 0
AVANEX CORP COM 05348W109 1,456,800 9,600 X 01 9,600 0 0
BB & T CORP COM 054937107 1,689,363 60,200 X 01 60,200 0 0
BJS WHSL CLUB INC COM 05548J106 2,047,125 53,000 X 01 53,000 0 0
BJ SVCS CO COM 055482103 4,646,738 62,900 X 01 62,900 0 0
BEA SYSTEMS INC COM 073325102 675,050 9,200 X 01 9,200 0 0
BOWATER INC COM 102183100 571,113 10,700 X 01 10,700 0 0
BROADVISION INC COM 111412102 1,427,025 31,800 X 01 31,800 0 0
BURR BROWN COM 122574106 788,438 14,500 X 01 14,500 0 0
CTC COMMUNICATIONS GROUP INC COM 126419100 1,150,875 27,000 X 01 27,000 0 0
CABOT CORP COM 127055101 1,613,450 52,900 X 01 52,900 0 0
CADIZ INC COM 127537108 693,600 81,600 X 01 81,600 0 0
CALIPER TECHNOLOGIES CORP COM 130876105 824,925 10,200 X 01 10,200 0 0
CALPINE CORP COM 131347106 1,250,200 13,300 X 01 13,300 0 0
CAMINUS CORP COM 133766105 638,000 31,900 X 01 31,900 0 0
CELGENE CORP COM 151020104 935,888 9,400 X 01 9,400 0 0
CEPHALON INC COM 156708109 225,000 6,000 X 01 6,000 0 0
CHARTERED SEMICONDUCTOR MFG ADR 16133R106 857,675 9,100 X 01 9,100 0 0
CITADEL COMMUNICATIONS CORP COM 172853202 2,649,375 62,800 X 01 62,800 0 0
CLARUS CORP COM 182707109 706,250 10,000 X 01 10,000 0 0
COMCAST CORP CL A 200300200 2,076,795 47,880 X 01 47,880 0 0
COMERICA INC COM 200340107 1,264,625 30,200 X 01 30,200 0 0
COMMERCE BANCORP INC COM 200519106 1,157,730 31,290 X 01 31,290 0 0
COMMERCE ONE INC COM 200693109 805,950 5,400 X 01 5,400 0 0
COMMSCOPE INC COM 203372107 2,007,500 44,000 X 01 44,000 0 0
COMPASS BANCSHARES INC COM 20449H109 1,252,075 62,800 X 01 62,800 0 0
COMVERSE TECHNOLOGY INC COM 205862402 718,200 3,800 X 01 3,800 0 0
COOPER CAMERON CORP COM 216640102 762,375 11,400 X 01 11,400 0 0
COORS ADOLPH CO CL B 217016104 1,496,531 31,300 X 01 31,300 0 0
COVAD COMMUNICATIONS GROUP INCOM 222814204 725,000 10,000 X 01 10,000 0 0
COX COMMUNICATIONS INC CL A 224044107 1,806,043 37,238 X 01 37,238 0 0
COX RADIO INC CL A 224051102 1,453,200 17,300 X 01 17,300 0 0
CREDENCE SYSTEMS CORP COM 225302108 1,201,200 9,600 X 01 9,600 0 0
CREE INC COM 225447101 654,675 5,800 X 01 5,800 0 0
CRITICAL PATH INC COM 22674V100 1,462,000 17,200 X 01 17,200 0 0
CROSSROADS SYSTEMS INC COM 22765D100 526,575 5,100 X 01 5,100 0 0
CROWN CASTLE INTL CORP COM 228227104 939,300 24,800 X 01 24,800 0 0
CYPRESS SEMICONDUCTOR CORP COM 232806109 897,488 18,200 X 01 18,200 0 0
DII GROUP INC COM 232949107 1,763,775 15,600 X 01 15,600 0 0
DAIN RAUSCHER CORP COM 233856103 1,582,500 24,000 X 01 24,000 0 0
DIGITAL IMPACT INC COM 25385G106 426,750 12,000 X 01 12,000 0 0
DIGITAS INC COM 25388K104 791,350 32,300 X 01 32,300 0 0
DIME BANCORP INC COM 25429Q102 1,507,750 81,500 X 01 81,500 0 0
DIVERSA CORP COM 255064107 225,600 4,800 X 01 4,800 0 0
DYCOM INDS INC COM 267475101 1,755,000 36,000 X 01 36,000 0 0
E TEK DYNAMICS INC COM 269240107 2,870,050 12,200 X 01 12,200 0 0
ETOWN CORP COM 269242103 657,800 10,400 X 01 10,400 0 0
ELCOR CHEM CORP COM 284443108 652,050 18,900 X 01 18,900 0 0
EMISPHERE TECHNOLOGIES INC COM 291345106 772,938 14,900 X 01 14,900 0 0
EMULEX CORP COM 292475209 567,450 5,200 X 01 5,200 0 0
ENERGY EAST CORP COM 29266M109 635,981 32,100 X 01 32,100 0 0
ENGAGE TECHNOLOGIES INC COM 292827102 579,975 7,600 X 01 7,600 0 0
ENTERCOM COMMUNICATIONS CORP CL A 293639100 1,285,200 25,200 X 01 25,200 0 0
ENTRUST TECHNOLOGIES INC COM 293848107 816,750 9,600 X 01 9,600 0 0
ENZON INC COM 293904108 580,388 15,400 X 01 15,400 0 0
EPCOS AG ADR 29410P107 1,231,400 9,400 X 01 9,400 0 0
EQUITABLE RES INC COM 294549100 703,556 15,700 X 01 15,700 0 0
ETHAN ALLEN INTERIORS INC COM 297602104 1,503,750 60,150 X 01 60,150 0 0
EXAR CORP COM 300645108 1,427,672 19,950 X 01 19,950 0 0
EXODUS COMMUNICATIONS INC COM 302088109 4,706,750 33,500 X 01 33,500 0 0
EXTENSITY INC COM 302255104 475,200 9,900 X 01 9,900 0 0
EXTREME NETWORKS INC COM 30226D106 592,500 7,500 X 01 7,500 0 0
FINISAR CORP COM 31787A101 1,582,369 10,800 X 01 10,800 0 0
FIRSTWORLD COMMUNICATIONS COM SER B 337625305 1,059,500 52,000 X 01 52,000 0 0
FLUOR CORP COM 343861100 793,600 25,600 X 01 25,600 0 0
GO2NET COM 383486107 426,981 5,300 X 01 5,300 0 0
GRIC COMMUNICATIONS INC COM 398081109 1,873,125 55,500 X 01 55,500 0 0
GRUPO TELEVISION SA DE CV ADR 40049J206 870,400 12,800 X 01 12,800 0 0
HARMONIC INC COM 413160102 549,450 6,600 X 01 6,600 0 0
HELIX TECHNOLOGY CORP COM 423319102 846,881 14,100 X 01 14,100 0 0
HENRY JACK & ASSOC INC COM 426281101 1,888,000 51,200 X 01 51,200 0 0
HISPANIC BROADCASTING CORP CL A 43357B104 1,019,250 9,000 X 01 9,000 0 0
HOOPER HOLMES INC COM 439104100 1,681,313 49,000 X 01 49,000 0 0
HUMAN GENOME SCIENCES INC COM 444903108 606,356 7,300 X 01 7,300 0 0
IDEC PHARMACEUTICALS CORP COM 449370105 786,000 8,000 X 01 8,000 0 0
ITC DELTA.COM COM 45031T104 630,563 17,700 X 01 17,700 0 0
INFOSPACE.COM INC COM 45678T102 654,469 4,500 X 01 4,500 0 0
INKTOMI CORP COM 457277101 2,925,000 15,000 X 01 15,000 0 0
INSIGHT COMMUNICATIONS INC CL A 45768V108 707,438 34,300 X 01 34,300 0 0
INTEGRATED DEVICE TECHNOLOGY COM 458118106 891,563 22,500 X 01 22,500 0 0
THE INTERCEPT GROUP INC COM 45845L107 883,225 34,300 X 01 34,300 0 0
INTERNAP NETWORK SVCS CORP COM 45885A102 529,000 11,500 X 01 11,500 0 0
INTERNATIONAL RECTIFIER CORP COM 460254105 876,875 23,000 X 01 23,000 0 0
INTERSIL HLDG CORP CL A 46069S109 1,757,375 34,000 X 01 34,000 0 0
INTERTRUST TECHNOLOGIES CORP COM 46113Q109 535,500 12,600 X 01 12,600 0 0
INTERWOVEN INC COM 46114T102 406,075 3,700 X 01 3,700 0 0
INVESTMENT TECHNOLOGY GROUP COM 46145F105 853,050 24,200 X 01 24,200 0 0
IVAX CORP COM 465823102 2,019,225 74,100 X 01 74,100 0 0
JDS UNIPHASE CORP COM 46612J101 1,924,178 15,960 X 01 15,960 0 0
JOHNSON CTLS INC COM 478366107 594,688 11,000 X 01 11,000 0 0
JONES PHARMA INC COM 480236108 1,303,088 42,900 X 01 42,900 0 0
JUNIPER NETWORKS INC COM 48203R104 1,502,306 5,700 X 01 5,700 0 0
KLA TENCOR CORP COM 482480100 2,763,400 32,800 X 01 32,800 0 0
K V PHARMACEUTICAL COMPANY CL A 482740206 650,375 24,200 X 01 24,200 0 0
KANA COMMUNICATIONS INC COM 483600102 1,033,600 15,200 X 01 15,200 0 0
KEMET CORP COM 488360108 904,475 14,300 X 01 14,300 0 0
L 3 COMMUNICATIONS HLDG CORP COM 502424104 1,050,400 20,200 X 01 20,200 0 0
LAM RESH CORP COM 512807108 919,275 20,400 X 01 20,400 0 0
LAMAR ADVERTISING CO CL A 512815101 768,950 16,900 X 01 16,900 0 0
LANTE CORP COM 516540101 403,988 13,300 X 01 13,300 0 0
LATTICE SEMICONDUCTOR CORP COM 518415104 791,944 11,700 X 01 11,700 0 0
LEAP WIRELESS INTL INC COM 521863100 592,125 6,000 X 01 6,000 0 0
LEARNING TREE INTL INC COM 522015106 482,800 13,600 X 01 13,600 0 0
LEGG MASON INC COM 524901105 1,232,625 28,500 X 01 28,500 0 0
LOUIS DREYFUS NAT GAS CORP COM 546011107 1,074,400 31,600 X 01 31,600 0 0
MACROMEDIA INC COM 556100105 2,700,344 29,900 X 01 29,900 0 0
MARSHALL & ILSLEY CORP COM 571834100 1,172,325 20,300 X 01 20,300 0 0
MARTIN MARIETTA MATLS INC COM 573284106 1,011,750 21,300 X 01 21,300 0 0
MAVERICK TUBE CORP COM 577914104 1,070,438 33,000 X 01 33,000 0 0
MEDICIS PHARMACEUTICAL CORP CL A 584690309 752,000 18,800 X 01 18,800 0 0
MERCURY INTERACTIVE CORP COM 589405109 966,850 12,200 X 01 12,200 0 0
METASOLV SOFTWARE INC COM 591393103 750,094 12,700 X 01 12,700 0 0
METROMEDIA FIBER NETWORK INC CL A 591689104 2,955,713 30,550 X 01 30,550 0 0
MICREL INC COM 594793101 1,065,600 11,100 X 01 11,100 0 0
MICROMUSE INC COM 595094103 999,450 7,200 X 01 7,200 0 0
MIDCOAST ENERGY RES INC COM 59563W104 521,675 30,800 X 01 30,800 0 0
MILLENNIUM PHARMACEUTICALS COM 599902103 896,138 6,900 X 01 6,900 0 0
NATIONAL COMPUTER SYS INC COM 635519101 1,603,700 31,600 X 01 31,600 0 0
NATIONAL FUEL GAS CO COM 636180101 561,488 12,600 X 01 12,600 0 0
NETRO CORP COM 64114R109 845,203 13,000 X 01 13,000 0 0
NETRATINGS INC COM 64116M108 416,456 16,700 X 01 16,700 0 0
NETWORK APPLIANCE INC COM 64120L104 8,275,000 100,000 X 01 100,000 0 0
NET2000 COMMUNICATION INC COM 64122G103 788,500 33,200 X 01 33,200 0 0
NEUBERGER BERMAN INC COM 641234109 1,243,069 44,100 X 01 44,100 0 0
NEUROCRINE BIOSCIENCES INC COM 64125C109 458,025 19,700 X 01 19,700 0 0
NEWFIELD EXPL CO COM 651290108 687,375 19,500 X 01 19,500 0 0
NEWPORT NEWS SHIPBUILDING INCCOM 652228107 456,775 15,100 X 01 15,100 0 0
NEXTEL PARTNERS INC CL A 65333F107 1,131,000 39,000 X 01 39,000 0 0
NEXT LEVEL COMMUNICATIONS INCCOM 65333U104 2,414,250 22,200 X 01 22,200 0 0
NVIDIA CORP COM 67066G104 1,157,436 13,700 X 01 13,700 0 0
OTG SOFTWARE INC COM 671059103 391,031 9,700 X 01 9,700 0 0
OPTIMAL ROBOTICS CORP CL A 68388R208 3,055,000 65,000 X 01 65,000 0 0
ORAPHARMA INC COM 68554E106 656,750 35,500 X 01 35,500 0 0
PALM INC COM 696642107 1,077,000 24,000 X 01 24,000 0 0
PEGASUS COMMUNICATIONS CORP CL A 705904100 1,182,300 8,400 X 01 8,400 0 0
PHILADELPHIA SUBN CORP COM 718009608 447,688 24,700 X 01 24,700 0 0
PHONE.COM INC COM 71920Q100 1,092,938 6,700 X 01 6,700 0 0
PINNACLE HLDGS INC COM 72346N101 924,500 17,200 X 01 17,200 0 0
PLEXUS CORP COM 729132100 2,964,813 44,500 X 01 44,500 0 0
PORTAL SOFTWARE INC COM 736126103 683,250 12,000 X 01 12,000 0 0
POWER INTEGRATIONS COM 739276103 440,000 17,600 X 01 17,600 0 0
POWERWAVE TECHNOLOGIES INC COM 739363109 825,000 6,600 X 01 6,600 0 0
PRIMUS TELECOMM GROUP INC COM 741929103 3,101,250 60,000 X 01 60,000 0 0
PROXIM INC COM 744284100 813,875 6,800 X 01 6,800 0 0
QLOGIC CORP COM 747277101 4,512,150 33,300 X 01 33,300 0 0
QUANTUM EFFECT DEVICES INC COM 74764T107 374,238 4,700 X 01 4,700 0 0
RF MICRO DEVICES INC COM 749941100 1,155,625 8,600 X 01 8,600 0 0
RADIO ONE INC CL A 75040P108 746,200 11,200 X 01 11,200 0 0
RATIONAL SOFTWARE CORP COM 75409P202 841,500 11,000 X 01 11,000 0 0
REALNETWORKS INC COM 75605L104 911,000 16,000 X 01 16,000 0 0
RELIASTAR FINL CORP COM 75952U103 907,850 26,800 X 01 26,800 0 0
RETEK INC COM 76128Q109 568,388 13,800 X 01 13,800 0 0
RICHMOND CNTY FINL CORP COM 764556106 524,063 32,500 X 01 32,500 0 0
SCI SYS INC COM 783890106 1,366,838 25,400 X 01 25,400 0 0
SDL INC COM 784076101 5,513,463 25,900 X 01 25,900 0 0
SPX CORP COM 784635104 808,956 7,100 X 01 7,100 0 0
SANDISK CORP COM 80004C101 1,127,000 9,200 X 01 9,200 0 0
SANMINA CORP COM 800907107 1,162,075 17,200 X 01 17,200 0 0
SAPIENT CORP COM 803062108 587,125 7,000 X 01 7,000 0 0
SCIENT CORP COM 80864H109 725,500 8,000 X 01 8,000 0 0
SCIENTIFIC ATLANTA INC COM 808655104 1,154,563 18,200 X 01 18,200 0 0
SELECTICA INC DEL COM 816288104 582,450 6,600 X 01 6,600 0 0
SEMTECH CORP COM 816850101 723,906 11,300 X 01 11,300 0 0
SEPRACOR INC COM 817315104 597,063 8,200 X 01 8,200 0 0
7/24 SOLUTIONS INC COM 81788Q100 597,600 4,800 X 01 4,800 0 0
SHAW GROUP INC COM 820280105 877,725 24,900 X 01 24,900 0 0
SILICON IMAGE INC COM 82705T102 537,188 7,500 X 01 7,500 0 0
SILKNET SOFTWARE INC COM 827094103 258,906 2,500 X 01 2,500 0 0
SMITH INTL INC COM 832110100 1,007,500 13,000 X 01 13,000 0 0
SOUTHDOWN INC COM 841297104 1,038,400 17,600 X 01 17,600 0 0
SOUTHWEST BANCORPORATION COM 84476R109 1,026,300 52,800 X 01 52,800 0 0
SPANISH BROADCASTING SYS INC CL A 846425882 1,160,930 49,500 X 01 49,500 0 0
SPARTECH CORP COM 847220209 1,027,813 29,900 X 01 29,900 0 0
SPECTRASITE HLDGS INC COM 84760T100 956,963 33,800 X 01 33,800 0 0
SPINNAKER EXPL CO COM 84855W109 968,013 42,550 X 01 42,550 0 0
ST ASSEMBLY TEST SVCS LTD ADR 85227G102 892,400 18,400 X 01 18,400 0 0
STONE ENERGY CORP COM 861642106 773,225 15,700 X 01 15,700 0 0
SUPERGEN INC COM 868059106 926,400 19,300 X 01 19,300 0 0
SWIFT TRANSN INC COM 870756103 526,850 25,700 X 01 25,700 0 0
SYCAMORE NETWORKS INC COM 871206108 1,548,000 12,000 X 01 12,000 0 0
TCF FINANCIAL CORP COM 872275102 785,813 33,000 X 01 33,000 0 0
TELAXIS COMMUNICATIONS CORP COM 879202109 390,711 6,500 X 01 6,500 0 0
TELECORP PCS INC CL A 879299105 734,850 14,200 X 01 14,200 0 0
TENET HEALTHCARE CORP COM 88033G100 874,000 38,000 X 01 38,000 0 0
TEVA PHARMACEUTICAL INDS LTD ADR 881624209 1,365,638 36,600 X 01 36,600 0 0
TIBCO SOFTWARE INC COM 88632Q103 912,800 11,200 X 01 11,200 0 0
TIME WARNER TELECOM INC CL A 887319101 1,105,050 13,900 X 01 13,900 0 0
TRANSWITCH CORP COM 894065101 2,638,631 27,450 X 01 27,450 0 0
TRITEL INC CL A 89675X104 619,650 16,200 X 01 16,200 0 0
TRITON PCS HLDGS INC CL A 89677M106 800,650 13,400 X 01 13,400 0 0
UNIONBANCAL CORP COM 908906100 901,294 32,700 X 01 32,700 0 0
UNITED STATIONERS INC COM 913004107 1,291,888 36,200 X 01 36,200 0 0
UTSTARCOM INC COM 918076100 757,206 9,700 X 01 9,700 0 0
VERISIGN INC COM 92343E102 3,408,600 22,800 X 01 22,800 0 0
VERITAS DGC INC COM 92343P107 1,687,500 60,000 X 01 60,000 0 0
VERTEX PHARMACEUTICALS INC COM 92532F100 547,706 11,700 X 01 11,700 0 0
VERTICALNET INC COM 92532L107 680,000 5,000 X 01 5,000 0 0
VIANT CORP COM 92553N107 757,100 22,600 X 01 22,600 0 0
VIRATA CORP COM 927646109 2,197,250 22,000 X 01 22,000 0 0
VITRIA TECHNOLOGY INC COM 92849Q104 1,189,588 11,800 X 01 11,800 0 0
WADDELL & REED FINL INC CL A 930059100 1,692,500 40,000 X 01 40,000 0 0
WATCHGUARD TECHNOLOGIES INC COM 941105108 1,350,000 15,000 X 01 15,000 0 0
WEBMETHODS INC COM 94768C108 1,858,588 7,700 X 01 7,700 0 0
WINSTAR COMMUNICATIONS INC COM 975515107 1,224,000 20,400 X 01 20,400 0 0
XILINX INC COM 983919101 5,366,250 64,800 X 01 64,800 0 0
YOUNG & RUBICAM INC COM 987425105 963,500 20,500 X 01 20,500 0 0
ZALE CORP COM 988858106 2,114,000 44,800 X 01 44,800 0 0
ZIONS BANCORP COM 989701107 1,186,313 28,500 X 01 28,500 0 0
284,888,178
240 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/PRINV DISCRETION MGR VOTING AUTHORITY (SHARES)
CLASS NUMBER SOLE SHRD OTHR A-SOLE B-SHRDC-NONE
GLOBAL CROSSING LTD COM G3921A100 802,621 19,606 X 01 19,606 0 0
TRANSOCEAN SEDCO FOREX INC ORD G90078109 269,647 5,255 X 01 5,255 0 0
ADC TELECOMMUNICATIONS INC COM 000886101 406,864 7,552 X 01 7,552 0 0
AFLAC INC COM 001055102 304,904 6,692 X 01 6,692 0 0
AES CORP COM 00130H105 408,713 5,190 X 01 5,190 0 0
AT & T CORP COM 001957109 4,519,575 80,348 X 01 80,348 0 0
ABBOTT LABS COM 002824100 1,360,208 38,656 X 01 38,656 0 0
ADOBE SYSTEMS INC COM 00724F101 331,823 2,981 X 01 2,981 0 0
ADVANCED MICRO DEVICES INC COM 007903107 211,245 3,702 X 01 3,702 0 0
AETNA INC COM 008117103 200,252 3,596 X 01 3,596 0 0
ALBERTSONS INC COM 013104104 330,212 10,652 X 01 10,652 0 0
ALCOA INC COM 013817101 650,023 9,253 X 01 9,253 0 0
ALLSTATE CORP COM 020002101 482,251 20,252 X 01 20,252 0 0
ALLTEL CORP COM 020039103 497,815 7,894 X 01 7,894 0 0
AMERICA ONLINE INC COM 02364J104 3,858,536 57,376 X 01 57,376 0 0
AMERICAN EXPRESS CO COM 025816109 1,676,589 11,257 X 01 11,257 0 0
AMERICAN GEN CORP COM 026351106 348,761 6,214 X 01 6,214 0 0
AMERICAN HOME PRODUCTS CORP COM 026609107 1,760,670 32,833 X 01 32,833 0 0
AMERICAN INTL GROUP INC COM 026874107 4,262,945 38,931 X 01 38,931 0 0
AMGEN INC COM 031162100 1,576,478 25,686 X 01 25,686 0 0
ANALOG DEVICES INC COM 032654105 708,547 8,795 X 01 8,795 0 0
ANHEUSER BUSCH COS INC COM 035229103 728,325 11,700 X 01 11,700 0 0
AON CORP COM 037389103 208,109 6,453 X 01 6,453 0 0
APPLE COMPUTER COM 037833100 552,078 4,065 X 01 4,065 0 0
APPLIED MATERIALS INC COM 038222105 1,813,841 19,245 X 01 19,245 0 0
ARCHER DANIELS MIDLAND CO COM 039483102 158,395 15,267 X 01 15,267 0 0
ASSOCIATES FIRST CAP CORP CL A 046008108 392,564 18,312 X 01 18,312 0 0
ATLANTIC RICHFIELD CO COM 048825103 689,775 8,115 X 01 8,115 0 0
AUTOMATICDATA PROCESSING INC COM 053015103 764,666 15,848 X 01 15,848 0 0
BB&T CORP COM 054937107 245,154 8,736 X 01 8,736 0 0
BMC SOFTWARE INC COM 055921100 303,163 6,140 X 01 6,140 0 0
BAKER HUGHES INC COM 057224107 250,410 8,278 X 01 8,278 0 0
BANK OF AMERICA CORP COM 060505104 2,251,037 42,928 X 01 42,928 0 0
BANK NEW YORK INC COM 064057102 769,613 18,517 X 01 18,517 0 0
BANK ONE CORP COM 06423A103 991,341 28,839 X 01 28,839 0 0
BAXTER INTL INC COM 071813109 458,622 7,316 X 01 7,316 0 0
BELL ATLANTIC CORP COM 077853109 2,386,626 39,045 X 01 39,045 0 0
BELLSOUTH CORP COM 079860102 2,224,557 47,331 X 01 47,331 0 0
BEST BUY CO INC COM 086516101 442,040 5,140 X 01 5,140 0 0
BESTFOODS COM 08658U101 328,343 7,014 X 01 7,014 0 0
BIOGEN INC COM 090597105 263,988 3,778 X 01 3,778 0 0
BOEING CO COM 097023105 828,707 21,844 X 01 21,844 0 0
BOSTON SCIENTIFIC CORP COM 101137107 222,247 10,428 X 01 10,428 0 0
BRISTOL MYERS SQUIBB CO COM 110122108 2,880,628 49,881 X 01 49,881 0 0
BURLINGTON NORTHERN SANTA FE COM 12189T104 254,216 11,490 X 01 11,490 0 0
BURLINGTON RESOURCES INC COM 122014103 202,353 5,469 X 01 5,469 0 0
CBS CORP COM 12490K107 1,085,558 19,171 X 01 19,171 0 0
CIGNA CORP COM 125509109 321,104 4,239 X 01 4,239 0 0
CVS CORP COM 126650100 370,141 9,854 X 01 9,854 0 0
CAMPBELL SOUP CO COM 134429109 329,732 10,723 X 01 10,723 0 0
CAPITAL ONE FINL CORP COM 14040H105 237,674 4,958 X 01 4,958 0 0
CARDINAL HEALTH INC COM 14149Y108 324,474 7,073 X 01 7,073 0 0
CARNIVAL CORP COM 143658102 384,941 15,514 X 01 15,514 0 0
CATERPILLAR INC COM 149123101 352,571 8,940 X 01 8,940 0 0
CENDANT CORP COM 151313103 328,431 17,753 X 01 17,753 0 0
CHASE MANHATTAN CORP COM 16161A108 1,808,182 20,739 X 01 20,739 0 0
CHEVRON CORP COM 166751107 1,525,404 16,502 X 01 16,502 0 0
CHUBB CORP COM 171232101 298,897 4,424 X 01 4,424 0 0
CIRCUIT CITY STORES INC COM 172737108 311,254 5,113 X 01 5,113 0 0
CISCO SYSTEMS INC COM 17275R102 13,302,002 172,055 X 01 172,055 0 0
CITIGROUP INC COM 172967101 5,028,632 84,782 X 01 84,782 0 0
CITRIX SYS INC COM 177376100 298,589 4,507 X 01 4,507 0 0
CLEAR CHANNEL COMMUNICATIONS COM 184502102 587,860 8,512 X 01 8,512 0 0
COASTAL CORP COM 190441105 247,112 5,372 X 01 5,372 0 0
COCA COLA CO COM 191216100 2,915,194 62,108 X 01 62,108 0 0
COCA COLA ENTERPRISES INC COM 191219104 230,697 10,699 X 01 10,699 0 0
COLGATE PALMOLIVE CO COM 194162103 825,837 14,649 X 01 14,649 0 0
COLUMBIA / HCA HEALTHCARE CORCOM 197677107 358,526 14,164 X 01 14,164 0 0
COMCAST CORP CL A 200300200 1,010,594 23,299 X 01 23,299 0 0
COMPAQ COMPUTER CORP COM 204493100 1,134,119 42,596 X 01 42,596 0 0
COMPUTER ASSOC INTL INC COM 204912109 806,607 13,628 X 01 13,628 0 0
COMPUTER SCIENCES CORP COM 205363104 332,958 4,208 X 01 4,208 0 0
COMVERSE TECHNOLOGY INC COM 205862402 362,880 1,920 X 01 1,920 0 0
CONAGRA INC COM 205887102 224,442 12,383 X 01 12,383 0 0
CONEXANT SYS INC COM 207142100 383,400 5,400 X 01 5,400 0 0
CONOCO INC CL B 208251405 403,517 15,747 X 01 15,747 0 0
CORNING INC COM 219350105 1,345,390 6,935 X 01 6,935 0 0
COSTCO WHSL CORP COM 22160K105 587,649 11,180 X 01 11,180 0 0
DEERE & CO COM 244199105 223,592 5,884 X 01 5,884 0 0
DELL COMPUTER CORP COM 247025109 3,479,077 64,502 X 01 64,502 0 0
DELPHI AUTOMOTIVE SYS CORP COM 247126105 227,312 14,207 X 01 14,207 0 0
DISNEY WALT CO COM 254687106 2,153,527 52,049 X 01 52,049 0 0
DOMINION RES INC COM 25746U109 230,020 5,984 X 01 5,984 0 0
DOVER CORP COM 260003108 245,120 5,120 X 01 5,120 0 0
DOW CHEM CO COM 260543103 628,596 5,514 X 01 5,514 0 0
DU PONT EI DE NEMOURS & CO COM 263534109 1,388,762 26,265 X 01 26,265 0 0
DUKE ENERGY CO COM 264399106 482,738 9,195 X 01 9,195 0 0
E M C CORP COM 268648102 3,198,125 25,585 X 01 25,585 0 0
EASTMAN KODAK CO COM 277461109 431,024 7,936 X 01 7,936 0 0
EL PASO ENERGY CORP COM 283905107 231,793 5,741 X 01 5,741 0 0
ELECTRONIC DATA SYS CORP COM 285661104 759,852 11,838 X 01 11,838 0 0
EMERSON ELEC CO COM 291011104 573,112 10,839 X 01 10,839 0 0
ENRON CORP COM 293561106 1,347,301 17,994 X 01 17,994 0 0
EXXON MOBIL CORP COM 30231G102 6,757,315 86,841 X 01 86,841 0 0
FPL GROUP INC COM 302571104 207,604 4,507 X 01 4,507 0 0
FEDERAL HOME LN MTG CORP COM 313400301 772,398 17,480 X 01 17,480 0 0
FEDERAL NATL MTG ASSN COM 313586109 1,454,620 25,774 X 01 25,774 0 0
FEDERATED DEPT STORES INC COM 31410H101 220,440 5,280 X 01 5,280 0 0
FEDEX CORP COM 31428X106 284,349 7,291 X 01 7,291 0 0
FIFTH THIRD BANCORP COM 316773100 489,006 7,762 X 01 7,762 0 0
FIRST DATA CORP COM 319963104 466,307 10,538 X 01 10,538 0 0
FIRST UNION CORP COM 337358105 925,178 24,837 X 01 24,837 0 0
FIRSTAR CORP COM 33763V109 565,341 24,647 X 01 24,647 0 0
FLEETBOSTON FINL CORP COM 339030108 840,303 23,022 X 01 23,022 0 0
FORD MTR CO COM 345370100 1,395,260 30,373 X 01 30,373 0 0
FRANKLIN RES INC COM 354613101 209,051 6,252 X 01 6,252 0 0
GTE CORP COM 362320103 1,734,956 24,436 X 01 24,436 0 0
GANNETT INC COM 364730101 493,329 7,010 X 01 7,010 0 0
GAP INC COM 364760108 1,065,788 21,396 X 01 21,396 0 0
GATEWAY INC COM 367626108 421,827 7,959 X 01 7,959 0 0
GENERAL DYNAMICS CORP COM 369550108 251,437 5,054 X 01 5,054 0 0
GENERAL ELECTRIC CO COM 369604103 12,803,279 82,502 X 01 82,502 0 0
GENERAL MILLS INC COM 370334104 274,012 7,572 X 01 7,572 0 0
GENERAL MTRS CORP COM 370442105 1,333,116 16,098 X 01 16,098 0 0
GILLETTE CO COM 375766102 1,016,507 26,972 X 01 26,972 0 0
GUIDANT CORP COM 401698105 454,562 7,729 X 01 7,729 0 0
HALLIBURTON CO COM 406216101 455,428 11,108 X 01 11,108 0 0
HARLEY DAVIDSON INC COM 412822108 302,022 3,805 X 01 3,805 0 0
HARTFORD FINANCIAL SVCS GRP COM 416515104 293,976 5,573 X 01 5,573 0 0
HEINZ H J CO COM 423074103 311,015 8,918 X 01 8,918 0 0
HEWLETT PACKARD CO COM 428236103 3,349,987 25,271 X 01 25,271 0 0
HOME DEPOT INC COM 437076102 3,734,163 57,894 X 01 57,894 0 0
HONEYWELL INTL INC COM 438516106 1,048,745 19,905 X 01 19,905 0 0
HOUSEHOLD INTL INC COM 441815107 441,108 11,822 X 01 11,822 0 0
ILLINOIS TOOL WKS INC COM 452308109 417,469 7,556 X 01 7,556 0 0
INTEL CORP COM 458140100 11,084,069 84,010 X 01 84,010 0 0
INTERNATIONAL BUSINESS MACHS COM 459200101 5,348,586 45,327 X 01 45,327 0 0
INTERNATIONAL PAPER CO COM 460146103 445,113 10,412 X 01 10,412 0 0
INTERPUBLIC GROUP COS INC COM 460690100 333,443 7,057 X 01 7,057 0 0
JOHNSON & JOHNSON COM 478160104 2,451,347 34,988 X 01 34,988 0 0
KLA TENCOR CORP COM 482480100 388,982 4,617 X 01 4,617 0 0
K MART CORP COM 482584109 118,604 12,243 X 01 12,243 0 0
KANSAS CITY SOUTHN INDS INC COM 485170104 238,820 2,779 X 01 2,779 0 0
KELLOGG CO COM 487836108 261,221 10,194 X 01 10,194 0 0
KEYCORP COM 493267108 213,712 11,248 X 01 11,248 0 0
KIMBERLY CLARK CORP COM 494368103 782,376 13,971 X 01 13,971 0 0
KOHLS CORP COM 500255104 420,148 4,099 X 01 4,099 0 0
KROGER CO COM 501044101 368,461 20,980 X 01 20,980 0 0
LSI LOGIC CORP COM 502161102 543,162 7,479 X 01 7,479 0 0
LEHMAN BROTHERS HLDGS INC COM 524908100 292,746 3,018 X 01 3,018 0 0
LEXMARK INTL GROUP INC CL A 529771107 339,669 3,212 X 01 3,212 0 0
LILLY ELI & CO COM 532457108 1,727,523 27,421 X 01 27,421 0 0
LIMITED INC COM 532716107 227,559 5,402 X 01 5,402 0 0
LOCKHEED MARTIN CORP COM 539830109 203,476 9,956 X 01 9,956 0 0
LOWES COS INC COM 548661107 561,217 9,614 X 01 9,614 0 0
LUCENT TECHNOLOGIES INC COM 549463107 4,869,113 80,150 X 01 80,150 0 0
MBNA CORP COM 55262L100 514,106 20,161 X 01 20,161 0 0
MCI WORLDCOM INC COM 55268B106 3,233,998 71,371 X 01 71,371 0 0
MARSH & MCLENNAN COS INC COM 571748102 740,087 6,709 X 01 6,709 0 0
MASCO CORP COM 574599106 230,420 11,240 X 01 11,240 0 0
MATTEL INC COM 577081102 110,439 10,581 X 01 10,581 0 0
MAY DEPT STORES CO COM 577778103 238,289 8,361 X 01 8,361 0 0
MCDONALDS CORP COM 580135101 1,278,890 34,047 X 01 34,047 0 0
MCGRAW HILL COS INC COM 580645109 224,361 4,931 X 01 4,931 0 0
MEDIAONE GROUP INC COM 58440J104 1,246,428 15,388 X 01 15,388 0 0
MEDTRONIC INC COM 585055106 1,544,822 30,033 X 01 30,033 0 0
MELLON FINL CORP COM 58551A108 377,305 12,790 X 01 12,790 0 0
MERCK & CO INC COM 589331107 3,651,397 58,775 X 01 58,775 0 0
MERRILL LYNCH & CO INC COM 590188108 978,705 9,321 X 01 9,321 0 0
MICROSOFT CORP COM 594918104 13,905,788 130,878 X 01 130,878 0 0
MICRON TECHNOLOGY INC COM 595112103 856,170 6,795 X 01 6,795 0 0
MINNESOTA MNG & MFG CO COM 604059105 888,548 10,033 X 01 10,033 0 0
MOLEX INC COM 608554101 289,638 4,930 X 01 4,930 0 0
MORGAN J P & CO INC COM 616880100 573,640 4,354 X 01 4,354 0 0
MORGAN STANLEY DEAN WITTER & COM 617446448 2,336,766 28,650 X 01 28,650 0 0
MOTOROLA INC COM 620076109 2,538,831 17,832 X 01 17,832 0 0
NATIONAL CITY CORP COM 635405103 319,770 15,504 X 01 15,504 0 0
NATIONAL SEMICONDUCTOR CORP COM 637640103 261,476 4,313 X 01 4,313 0 0
NETWORK APPLIANCE INC COM 64120L104 633,782 7,659 X 01 7,659 0 0
NEXTEL COMMUNICATIONS INC CL A 65332V103 1,358,563 9,164 X 01 9,164 0 0
NIKE INC CL B 654106103 274,998 6,940 X 01 6,940 0 0
NORTEL NETWORKS CORP COM 656569100 4,574,052 36,302 X 01 36,302 0 0
NORTHERN TRUST CORP COM 665859104 378,147 5,597 X 01 5,597 0 0
NOVELL INC COM 670006105 235,069 8,212 X 01 8,212 0 0
OMNICOM GROUP COM 681919106 416,918 4,462 X 01 4,462 0 0
ORACLE CORP COM 68389X105 5,538,378 70,948 X 01 70,948 0 0
PG&E CORP COM 69331C108 202,755 9,655 X 01 9,655 0 0
PE CORP COM 69332S102 500,256 5,184 X 01 5,184 0 0
PNC FINL SVCS GROUP INC COM 693475105 333,147 7,393 X 01 7,393 0 0
PPG INDS INC COM 693506107 228,606 4,370 X 01 4,370 0 0
PAYCHEX INC COM 704326107 325,458 6,214 X 01 6,214 0 0
PEPSICO INC COM 713448108 1,265,126 36,604 X 01 36,604 0 0
PHARMACIA & UPJOHN INC COM 716941109 772,502 13,038 X 01 13,038 0 0
PFIZER INC COM 717081103 3,559,140 97,344 X 01 97,344 0 0
PHILIP MORRIS COS INC COM 718154107 1,256,874 59,497 X 01 59,497 0 0
PHILLIPS PETE CO COM 718507106 294,566 6,369 X 01 6,369 0 0
PITNEY BOWES INC COM 724479100 298,066 6,670 X 01 6,670 0 0
PROCTER & GAMBLE CO COM 742718109 1,860,975 33,084 X 01 33,084 0 0
PROVIDIAN FINL CORP COM 74406A102 309,251 3,570 X 01 3,570 0 0
QUAKER OATS CO COM 747402105 203,943 3,364 X 01 3,364 0 0
QUALCOMM INC COM 747525103 2,770,643 18,556 X 01 18,556 0 0
RALSTON PURINA CO COM 751277302 207,749 7,589 X 01 7,589 0 0
ROHM & HAAS CO COM 775371107 245,616 5,504 X 01 5,504 0 0
ROYAL DUTCH PETE CO NY REG 780257804 3,103,712 53,919 X 01 53,919 0 0
SBC COMMUNICATIONS INC COM 78387G103 3,602,760 85,780 X 01 85,780 0 0
SAFEWAY INC COM 786514208 578,929 12,794 X 01 12,794 0 0
SARA LEE CORP COM 803111103 411,282 22,849 X 01 22,849 0 0
SCHERING PLOUGH CORP COM 806605101 1,357,545 36,940 X 01 36,940 0 0
SCHLUMBERGER LTD COM 806857108 1,057,689 13,826 X 01 13,826 0 0
SCHWAB CHARLES CORP COM 808513105 1,171,360 20,618 X 01 20,618 0 0
SCIENTIFIC ATLANTA INC COM 808655104 208,583 3,288 X 01 3,288 0 0
SEAGATE TECHNOLOGY COM 811804103 327,037 5,428 X 01 5,428 0 0
SEAGRAM LTD COM 811850106 648,610 10,901 X 01 10,901 0 0
SEARS ROEBUCK & CO COM 812387108 293,436 9,504 X 01 9,504 0 0
SOLECTRON CORP COM 834182107 597,051 14,903 X 01 14,903 0 0
SOUTHERN CO COM 842587107 368,119 16,925 X 01 16,925 0 0
SOUTHWESTAIRLS CO COM 844741108 263,986 12,684 X 01 12,684 0 0
SPRINT CORP COM 852061100 1,380,519 21,913 X 01 21,913 0 0
SPRINT CORP PCS COM 852061506 1,415,453 21,672 X 01 21,672 0 0
STAPLES INC COM 855030102 236,260 11,813 X 01 11,813 0 0
STATE STREET CORPORATION COM 857477103 389,728 4,023 X 01 4,023 0 0
SUN MICROSYSTEMS INC COM 866810104 3,719,264 39,692 X 01 39,692 0 0
SUNTRUST BKS INC COM 867914103 464,657 8,046 X 01 8,046 0 0
SYSCO CORP COM 871829107 296,135 8,298 X 01 8,298 0 0
TANDY CORP COM 875382103 246,696 4,861 X 01 4,861 0 0
TARGET CORP COM 87612E106 823,596 11,018 X 01 11,018 0 0
TELLABS INC COM 879664100 637,087 10,115 X 01 10,115 0 0
TERADYNE INC COM 880770102 353,675 4,300 X 01 4,300 0 0
TEXACO INC COM 881694103 745,763 13,907 X 01 13,907 0 0
TEXAS INSTRS INC COM 882508104 3,270,880 20,443 X 01 20,443 0 0
TEXAS UTILS CO COM 882848104 206,328 6,950 X 01 6,950 0 0
TEXTRON INC COM 883203101 227,673 3,740 X 01 3,740 0 0
3COM CORP COM 885535104 478,820 8,608 X 01 8,608 0 0
TIME WARNER INC COM 887315109 3,235,000 32,350 X 01 32,350 0 0
TRIBUNE CO COM 896047107 218,461 5,975 X 01 5,975 0 0
TYCO INTL LTD COM 902124106 2,120,835 42,523 X 01 42,523 0 0
USX MARATHON GROUP COM 902905827 203,626 7,813 X 01 7,813 0 0
US BANCORP COM 902973106 414,400 18,944 X 01 18,944 0 0
UNILEVER N V NY SHS 904784709 691,653 14,372 X 01 14,372 0 0
UNION PACCORP COM 907818108 244,531 6,250 X 01 6,250 0 0
UNITED HEALTHCARE CORP COM 910581107 254,480 4,268 X 01 4,268 0 0
U S WEST INC COM 91273H101 922,773 12,706 X 01 12,706 0 0
UNITED TECHNOLOGIES CORP COM 913017109 754,712 11,944 X 01 11,944 0 0
VIACOM INC CL B 925524308 924,497 17,526 X 01 17,526 0 0
WACHOVIA CORP COM 929771103 344,434 5,098 X 01 5,098 0 0
WAL MART STORES INC COM 931142103 6,215,501 111,991 X 01 111,991 0 0
WALGREEN CO COM 931422109 651,527 25,302 X 01 25,302 0 0
WARNER LAMBERT CO COM 934488107 2,105,123 21,591 X 01 21,591 0 0
WASHINGTON MUT INC COM 939322103 384,701 14,517 X 01 14,517 0 0
WASTE MGMT INC DEL COM 94106L109 213,265 15,581 X 01 15,581 0 0
WELLS FARGO & CO COM 949746101 1,699,398 41,512 X 01 41,512 0 0
WEYERHAEUSER CO COM 962166104 336,585 5,905 X 01 5,905 0 0
WILLIAMS COS INC COM 969457100 480,325 10,932 X 01 10,932 0 0
WRIGLEY WM JR CO COM 982526105 223,601 2,911 X 01 2,911 0 0
XILINX INC COM 983919101 669,042 8,079 X 01 8,079 0 0
XEROX CORP COM 984121103 434,278 16,703 X 01 16,703 0 0
YAHOO INC COM 984332106 2,268,834 13,239 X 01 13,239 0 0
294,531,691
247 ITEMS
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