UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F
FORM 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: June 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 August 9, 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: 1,078
Form 13F Information Table Value Total: $8,524,877,601
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/PRINV DISCRETION VOTING AUTHORITY (SHARES)
CLASS NUMBER SOLE SHRD OTHR MGR A-SOLE B-SHRC-NONE
AMDOCS LIMITED ORD G02602103 5,725,550 74,600 X 01 74,600 0 0
SANTA FE INTERNATIONAL CORP ORD G7805C108 13,814,288 395,400 X 01 395,400 0 0
TRANSOCEAN SEDCO FOREX INC ORD G90078109 8,155,043 152,609 X 01 152,609 0 0
CHECK POINT SOFTWARE ORD M22465104 9,401,700 44,400 X 01 44,400 0 0
FLEXTRONICS INTERNATIONAL ORD Y2573F102 13,427,033 195,480 X 01 195,480 0 0
AT & T CORP COM 001957109 6,264,122 198,075 X 01 198,075 0 0
AT& T CORP WIRELESS GROUP COM 001957406 5,335,275 191,400 X 01 191,400 0 0
AVX CORP COM 002444107 5,321,500 232,000 X 01 232,000 0 0
ADOBE SYS INC COM 00724F101 16,250,000 125,000 X 01 125,000 0 0
ADVANCED FIBRE COMMUNICATIONS COM 00754A105 5,686,719 125,500 X 01 125,500 0 0
ADVANCED MICRO DEVICES INC COM 007903107 40,896,150 529,400 X 01 529,400 0 0
ADVANCED ENERGY INDS INC COM 007973100 3,430,163 58,200 X 01 58,200 0 0
ADVENT SOFTWARE INC COM 007974108 6,811,200 105,600 X 01 105,600 0 0
AFFYMETRIX INC COM 00826T108 14,778,688 89,500 X 01 89,500 0 0
AGILENT TECHNOLOGIES INC COM 00846U101 23,514,376 318,839 X 01 318,839 0 0
ALTERA CORP COM 021441100 30,407,956 298,300 X 01 298,300 0 0
AMERICAN EXPRESS CO COM 025816109 24,159,938 463,500 X 01 463,500 0 0
AMERICAN PWR CONVERSION CORP COM 029066107 6,725,900 164,800 X 01 164,800 0 0
AMERICAN TOWER CORP CL A 029912201 9,775,719 234,500 X 01 234,500 0 0
AMGEN INC COM 031162100 21,735,350 309,400 X 01 309,400 0 0
AMKOR TECHNOLOGY INC COM 031652100 4,866,063 137,800 X 01 137,800 0 0
ANALOG DEVICES INC COM 032654105 26,904,000 354,000 X 01 354,000 0 0
ANDRX CORP COM 034551101 16,990,434 265,800 X 01 265,800 0 0
APACHE CORP COM 037411105 18,184,825 309,200 X 01 309,200 0 0
APPLE COMPUTER COM 037833100 15,932,475 304,200 X 01 304,200 0 0
APPLIED MICRO CIRCUITS CORP COM 03822W109 19,068,625 193,100 X 01 193,100 0 0
APPLIED MATERIALS INC COM 038222105 35,108,125 387,400 X 01 387,400 0 0
ARROW ELECTRS INC COM 042735100 5,762,900 185,900 X 01 185,900 0 0
ATMEL CORP COM 049513104 12,220,375 331,400 X 01 331,400 0 0
AVNET INC COM 053807103 7,524,750 127,000 X 01 127,000 0 0
BJ SVCS CO COM 055482103 10,056,250 160,900 X 01 160,900 0 0
BANK NEW YORK INC COM 064057102 15,126,450 325,300 X 01 325,300 0 0
BEA SYS INC COM 073325102 21,406,438 433,000 X 01 433,000 0 0
BEST BUY CO INC COM 086516101 8,886,625 140,500 X 01 140,500 0 0
BOOKHAM TECHNOLOGY PLC COM 09856Q108 6,636,000 112,000 X 01 112,000 0 0
BORDERS GROUP INC COM 099709107 438,863 28,200 X 01 28,200 0 0
BROADVISION INC COM 111412102 11,651,306 229,300 X 01 229,300 0 0
BROCADE COMMUNICATIONS SYS INC COM 111621108 12,238,408 66,700 X 01 66,700 0 0
BURLINGTON RES INC COM 122014103 8,896,950 232,600 X 01 232,600 0 0
BURR BROWN COM 122574106 13,991,363 161,400 X 01 161,400 0 0
CALPINE CORP COM 131347106 3,629,400 55,200 X 01 55,200 0 0
CEPHALON INC COM 156708109 11,436,125 191,000 X 01 191,000 0 0
CHARTER ONE FINL INC COM 160903100 7,990,200 347,400 X 01 347,400 0 0
CHARTERED SEMICONDUCTOR MFG ADR 16133R106 7,695,000 85,500 X 01 85,500 0 0
CIENA CORP COM 171779101 18,402,300 110,400 X 01 110,400 0 0
CISCO SYS INC COM 17275R102 137,549,250 2,164,000 X 01 2,164,000 0 0
CITIGROUP INC COM 172967101 115,439,000 1,916,000 X 01 1,916,000 0 0
COASTAL CORP COM 190441105 10,099,163 165,900 X 01 165,900 0 0
COMPAQ COMPUTER CORP COM 204493100 15,288,931 598,100 X 01 598,100 0 0
COMPUTER ASSOC INTL INC COM 204912109 5,364,450 104,800 X 01 104,800 0 0
COMVERSE TECHNOLOGY INC COM 205862402 8,314,200 89,400 X 01 89,400 0 0
CONEXANT SYS INC COM 207142100 4,176,888 85,900 X 01 85,900 0 0
COOPER CAMERON CORP COM 216640102 11,371,800 172,300 X 01 172,300 0 0
COPPER MTN NETWORKS INC COM 217510106 6,565,313 74,500 X 01 74,500 0 0
CORNING INC COM 219350105 52,841,525 195,800 X 01 195,800 0 0
COUNTRYWIDE CR INDS INC COM 222372104 8,487,500 280,000 X 01 280,000 0 0
CREDENCE SYSTEMS CORP COM 225302108 14,768,175 267,600 X 01 267,600 0 0
CREE INC COM 225447101 7,249,050 54,300 X 01 54,300 0 0
CROWN CASTLE INTL CORP COM 228227104 7,639,450 209,300 X 01 209,300 0 0
CYPRESS SEMICONDUCTOR CORP COM 232806109 21,446,100 507,600 X 01 507,600 0 0
DELL COMPUTER CORP COM 247025109 45,895,144 930,700 X 01 930,700 0 0
DISNEY WALT CO COM 254687106 49,551,919 1,276,700 X 01 1,276,700 0 0
DOW JONES & CO INC COM 260561105 9,412,625 128,500 X 01 128,500 0 0
E M C CORP COM 268648102 81,061,350 1,053,600 X 01 1,053,600 0 0
EOG RESOURCES INC COM 26875P101 7,550,900 225,400 X 01 225,400 0 0
EFFICIENT NETWORKS INC COM 282056100 10,651,850 144,800 X 01 144,800 0 0
ENZON INC COM 293904108 11,275,250 265,300 X 01 265,300 0 0
EPCOS AG COM 29410P107 4,235,500 43,000 X 01 43,000 0 0
EXODUS COMMUNICATIONS INC COM 302088109 33,644,050 730,400 X 01 730,400 0 0
EXXON MOBIL CORP COM 30231G102 54,926,450 699,700 X 01 699,700 0 0
GENENTECH INC COM 368710406 12,504,400 72,700 X 01 72,700 0 0
GENERAL ELEC CO COM 369604103 136,310,700 2,571,900 X 01 2,571,900 0 0
GLOBAL MARINE INC COM 379352404 5,738,975 203,600 X 01 203,600 0 0
GLOBESPAN SEMICONDUCTOR INC COM 379571102 10,596,381 86,800 X 01 86,800 0 0
GOLDEN WEST FINL CORP COM 381317106 15,512,831 380,100 X 01 380,100 0 0
HALLIBURTON CO COM 406216101 13,674,938 289,800 X 01 289,800 0 0
HEWLETT PACKARD CO COM 428236103 46,865,588 375,300 X 01 375,300 0 0
HUMAN GENOME SCIENCES INC COM 444903108 25,101,175 188,200 X 01 188,200 0 0
IMMUNEX CORP COM 452528102 5,976,994 120,900 X 01 120,900 0 0
INFINITY BROADCASTING CORP CL A 45662S102 11,168,094 306,500 X 01 306,500 0 0
INFOSPACE INC COM 45678T102 4,618,900 83,600 X 01 83,600 0 0
INKTOMI CORP COM 457277101 20,882,950 176,600 X 01 176,600 0 0
INTEGRATED DEVICE TECHNOLOGY COM 458118106 9,957,213 166,300 X 01 166,300 0 0
INTEL CORP COM 458140100 152,778,075 1,142,800 X 01 1,142,800 0 0
INTERNATIONAL BUSINESS MACHS COM 459200101 80,966,688 739,000 X 01 739,000 0 0
INTERNATIONAL RECTIFIER CORP COM 460254105 13,440,000 240,000 X 01 240,000 0 0
INTERSIL HLDG CORP CL A 46069S109 1,994,906 36,900 X 01 36,900 0 0
I2 TECHNOLOGIES INC COM 465754109 4,639,820 44,500 X 01 44,500 0 0
JDS UNIPHASE CORP COM 46612J101 48,497,589 404,568 X 01 404,568 0 0
JABIL CIRCUIT INC COM 466313103 4,952,575 99,800 X 01 99,800 0 0
JUNIPER NETWORKS INC COM 48203R104 12,489,263 85,800 X 01 85,800 0 0
KLA TENCOR CORP COM 482480100 12,989,163 221,800 X 01 221,800 0 0
KEMET CORP COM 488360108 11,924,738 475,800 X 01 475,800 0 0
KERR MCGEE CORP COM 492386107 9,724,688 165,000 X 01 165,000 0 0
LSI LOGIC CORP COM 502161102 45,822,225 846,600 X 01 846,600 0 0
LTX CORP COM 502392103 4,873,781 139,500 X 01 139,500 0 0
LAM RESH CORP COM 512807108 10,867,500 289,800 X 01 289,800 0 0
LEGG MASON INC COM 524901105 10,933,300 218,666 X 01 218,666 0 0
LEHMAN BROTHERS HLDGS INC COM 524908100 37,323,819 394,700 X 01 394,700 0 0
LEVEL 3 COMMUNICATIONS INC COM 52729N100 16,262,400 184,800 X 01 184,800 0 0
MCLEODUSA INC COM 582266102 4,468,500 216,000 X 01 216,000 0 0
MEDIMMUNE INC COM 584699102 12,195,200 164,800 X 01 164,800 0 0
MELLON FINL CORP COM 58551A108 15,117,919 414,900 X 01 414,900 0 0
MERCATOR SOFTWARE INC COM 587587106 8,215,625 119,500 X 01 119,500 0 0
MERCURY INTERACTIVE CORP COM 589405109 17,995,500 186,000 X 01 186,000 0 0
MERRILL LYNCH & CO INC COM 590188108 33,982,500 295,500 X 01 295,500 0 0
MICREL INC COM 594793101 17,679,063 407,000 X 01 407,000 0 0
MICROSOFT CORP COM 594918104 155,723,600 1,946,545 X 01 1,946,545 0 0
MICROCHIP TECHNOLOGY INC COM 595017104 8,477,648 145,500 X 01 145,500 0 0
MICROMUSE INC COM 595094103 16,879,406 102,000 X 01 102,000 0 0
MICRON TECHNOLOGY INC COM 595112103 42,287,613 480,200 X 01 480,200 0 0
MILLENNIUM PHARMACEUTICALS COM 599902103 21,591,875 193,000 X 01 193,000 0 0
MORGAN STANLEY DEAN WITTER & CO COM 617446448 51,232,050 615,400 X 01 615,400 0 0
MYRIAD GENETICS INC COM 62855J104 5,286,389 35,700 X 01 35,700 0 0
NATIONAL SEMICONDUCTOR CORP COM 637640103 25,248,075 444,900 X 01 444,900 0 0
NETWORK APPLIANCE INC COM 64120L104 5,667,200 70,400 X 01 70,400 0 0
NEWFIELD EXPL CO COM 651290108 9,436,950 241,200 X 01 241,200 0 0
NEXTEL COMMUNICATIONS INC CL A 65332V103 14,917,513 243,800 X 01 243,800 0 0
NEXTEL PARTNERS INC CL A 65333F107 11,002,869 337,900 X 01 337,900 0 0
NEXTLINK COMMUNICATIONS INC CL A 65333H707 8,429,713 222,200 X 01 222,200 0 0
NOKIA CORP ADR 654902204 33,233,406 665,500 X 01 665,500 0 0
NOBLE DRILLING CORP COM 655042109 11,581,925 281,200 X 01 281,200 0 0
NORTEL NETWORKS CORP COM 656568102 105,691,950 1,548,600 X 01 1,548,600 0 0
NOVELLUS SYS INC COM 670008101 5,068,000 89,600 X 01 89,600 0 0
NVIDIA CORP COM 67066G104 13,602,375 214,000 X 01 214,000 0 0
OMNICOM GROUP COM 681919106 8,131,406 91,300 X 01 91,300 0 0
ORACLE CORP COM 68389X105 83,642,188 995,000 X 01 995,000 0 0
PMC SIERRA INC COM 69344F106 17,893,131 100,700 X 01 100,700 0 0
PALM INC COM 696642107 4,145,175 124,200 X 01 124,200 0 0
PARADYNE CORP COM 69911G107 7,414,481 227,700 X 01 227,700 0 0
PERKINELMER INC COM 714046109 2,676,966 41,500 X 01 41,500 0 0
PHONE.COM INC COM 71920Q100 2,735,250 42,000 X 01 42,000 0 0
PINNACLE HLDGS INC COM 72346N101 5,130,000 95,000 X 01 95,000 0 0
PREMIER NATL BANCORP INC COM 74053F107 2,249,247 173,019 X 01 173,019 0 0
PRIMUS TELECOMM GROUP INC COM 741929103 6,029,700 242,400 X 01 242,400 0 0
PROXIM INC COM 744284100 14,508,819 146,600 X 01 146,600 0 0
QLOGIC CORP COM 747277101 3,692,894 55,900 X 01 55,900 0 0
QUALCOMM INC COM 747525103 16,296,000 271,600 X 01 271,600 0 0
QWEST COMMUNICATIONS INTL INC COM 749121109 40,858,031 822,300 X 01 822,300 0 0
RF MICRO DEVICES INC COM 749941100 4,258,575 48,600 X 01 48,600 0 0
RATIONAL SOFTWARE CORP COM 75409P202 9,386,688 101,000 X 01 101,000 0 0
REDBACK NETWORKS INC COM 757209101 9,113,600 51,200 X 01 51,200 0 0
REGENERON PHARMACEUTICALS INC COM 75886F107 6,150,319 206,300 X 01 206,300 0 0
ROYAL DUTCH PETE CO NY REG GLD 780257804 49,200,750 799,200 X 01 799,200 0 0
SCI SYS INC COM 783890106 19,099,988 487,400 X 01 487,400 0 0
SDL INC COM 784076101 20,533,500 72,000 X 01 72,000 0 0
SAGA SYS INC COM 786610105 4,008,606 322,300 X 01 322,300 0 0
SANDISK CORP COM 80004C101 4,748,150 77,600 X 01 77,600 0 0
SANMINA CORP COM 800907107 11,234,700 131,400 X 01 131,400 0 0
SCHLUMBERGER LTD COM 806857108 20,014,425 268,200 X 01 268,200 0 0
SCHWAB CHARLES CORP COM 808513105 15,681,271 466,358 X 01 466,358 0 0
SCIENTIFIC ATLANTA INC COM 808655104 30,194,850 405,300 X 01 405,300 0 0
SEMTECH CORP COM 816850101 16,658,297 217,800 X 01 217,800 0 0
SEPRACOR INC COM 817315104 14,595,625 121,000 X 01 121,000 0 0
SIEBEL SYS INC COM 826170102 28,607,081 174,900 X 01 174,900 0 0
SILICON IMAGE INC COM 82705T102 6,104,700 122,400 X 01 122,400 0 0
SPRINT CORP PCS COM 852061506 20,658,400 347,200 X 01 347,200 0 0
STARBUCKS CORP COM 855244109 11,456,250 300,000 X 01 300,000 0 0
STMICROELECTRONICS N V COM 861012102 9,204,488 143,400 X 01 143,400 0 0
SUN MICROSYSTEMS INC COM 866810104 51,361,500 564,800 X 01 564,800 0 0
SYMANTEC CORP COM 871503108 13,710,913 254,200 X 01 254,200 0 0
TAIWAN SEMICNDCTR MFG CO LTD ADR 874039100 6,889,440 177,792 X 01 177,792 0 0
TAIWAN SEMICONDUCTOR MFG CO LTD NADR 874039209 2,425,781 62,500 X 01 62,500 0 0
TALISMAN ENERGY INC COM 87425E103 16,602,250 501,200 X 01 501,200 0 0
TENET HEALTHCARE CORP COM 88033G100 13,964,400 517,200 X 01 517,200 0 0
TERADYNE INC COM 880770102 20,396,250 277,500 X 01 277,500 0 0
TEXAS INSTRS INC COM 882508104 53,081,700 772,800 X 01 772,800 0 0
TIBCO SOFTWARE INC COM 88632Q103 16,052,986 149,700 X 01 149,700 0 0
TIME WARNER TELECOM INC CL A 887319101 13,505,875 209,800 X 01 209,800 0 0
TOSCO CORP COM 891490302 4,719,694 166,700 X 01 166,700 0 0
TRANSWITCH CORP COM 894065101 12,307,547 159,450 X 01 159,450 0 0
TRIQUINT SEMICONDUCTOR INC COM 89674K103 5,415,913 56,600 X 01 56,600 0 0
TRITON PCS HLDGS INC CL A 89677M106 6,121,500 106,000 X 01 106,000 0 0
U S WEST INC COM 91273H101 13,179,775 153,700 X 01 153,700 0 0
UNITED STATIONERS INC COM 913004107 8,838,375 273,000 X 01 273,000 0 0
VASTAR RES INC COM 922380100 12,491,213 152,100 X 01 152,100 0 0
VERISIGN INC COM 92343E102 31,510,545 178,530 X 01 178,530 0 0
VERITAS SOFTWARE CORP COM 923436109 10,230,739 90,525 X 01 90,525 0 0
VERTEX PHARMACEUTICALS INC COM 92532F100 6,775,613 64,300 X 01 64,300 0 0
VIACOM INC CL B 925524308 30,955,489 453,976 X 01 453,976 0 0
VISHAY INTERTECHNOLOGY INC COM 928298108 19,592,822 516,450 X 01 516,450 0 0
VITRIA TECHNOLOGY INC COM 92849Q104 11,515,950 188,400 X 01 188,400 0 0
VITESSE SEMICONDUCTOR CORP COM 928497106 9,872,088 134,200 X 01 134,200 0 0
WASHINGTON MUT INC COM 939322103 7,184,100 248,800 X 01 248,800 0 0
WEATHERFORD INTL INC COM 947074100 12,162,719 305,500 X 01 305,500 0 0
WILLIAMS COMMUNICATIONS GROUP CL A 969455104 1,393,875 42,000 X 01 42,000 0 0
XILINX INC COM 983919101 58,305,638 706,200 X 01 706,200 0 0
YAHOO INC COM 984332106 23,858,325 192,600 X 01 192,600 0 0
3,802,605,836
188ITEMS
</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/PRINV DISCRETION VOTING AUTHORITY (SHARES)
CLASS NUMBER SOLE SHRD OTHR MGR A-SOLE B-SHRDC-NONE
MARVELL TECHNOLOGY GROUP LTD ORD G5876H105 632,700 11,100 X 01 11,100 0 0
OPENTV CORP CL A G67543101 484,650 10,800 X 01 10,800 0 0
SANTA FE INTERNATIONAL CORP ORD G7805C108 579,963 16,600 X 01 16,600 0 0
AUDIO CODES LTD ORD M15342104 924,000 7,700 X 01 7,700 0 0
METALINK LTD ORD M69897102 432,525 14,600 X 01 14,600 0 0
M SYS FLASH DISK PIONEERS LTDORD M7061C100 685,300 8,800 X 01 8,800 0 0
FLEXTRONICS INTERNATIONAL ORD Y2573F102 1,855,387 27,012 X 01 27,012 0 0
AVX CORP COM 002444107 580,319 25,300 X 01 25,300 0 0
ACCELERATED NETWORKS INC COM 00429P107 586,406 13,900 X 01 13,900 0 0
ADELPHIA COMMUNICATIONS CORP CL A 006848105 693,750 14,800 X 01 14,800 0 0
ADVANCED MICRO DEVICES INC COM 007903107 1,421,400 18,400 X 01 18,400 0 0
ADVANCED ENERGY INDS INC COM 007973100 648,313 11,000 X 01 11,000 0 0
AETHER SYSTEMS INC COM 00808V105 1,537,500 7,500 X 01 7,500 0 0
AFFYMETRIX INC COM 00826T108 379,788 2,300 X 01 2,300 0 0
AGILE SOFTWARE CORP COM 00846X105 770,494 10,900 X 01 10,900 0 0
AKAMAI TECHNOLOGIES INC COM 00971T101 878,634 7,400 X 01 7,400 0 0
ALKERMES INC COM 01642T108 405,275 8,600 X 01 8,600 0 0
ALLERGAN INC COM 018490102 596,000 8,000 X 01 8,000 0 0
ALLMERICA FINL CORP COM 019754100 450,425 8,600 X 01 8,600 0 0
ALPHARMA INC CL A 020813101 852,825 13,700 X 01 13,700 0 0
AMERICAN CAP STRATEGIES LTD COM 024937104 873,825 36,600 X 01 36,600 0 0
AMERICAN STD COS INC COM 029712106 459,200 11,200 X 01 11,200 0 0
AMERICAN TOWER CORP CL A 029912201 521,094 12,500 X 01 12,500 0 0
AMPHENOL CORP CL A 032095101 728,063 11,000 X 01 11,000 0 0
ANDRX CORP COM 034551101 850,161 13,300 X 01 13,300 0 0
APPLIED MICRO CIRCUITS CORP COM 03822W109 1,787,375 18,100 X 01 18,100 0 0
ATLANTIC COAST AIRLINES HLDGSCOM 048396105 447,675 14,100 X 01 14,100 0 0
AVANEX CORP COM 05348W109 515,700 5,400 X 01 5,400 0 0
BB & T CORP COM 054937107 792,650 33,200 X 01 33,200 0 0
BJS WHSL CLUB INC COM 05548J106 963,600 29,200 X 01 29,200 0 0
BJ SVCS CO COM 055482103 1,606,250 25,700 X 01 25,700 0 0
BANK UTD CORP CL A 065412108 496,144 14,100 X 01 14,100 0 0
BANKNORTH GROUP INC COM 06646R107 520,625 34,000 X 01 34,000 0 0
BEA SYS INC COM 073325102 711,900 14,400 X 01 14,400 0 0
BIOVAIL CORP COM 09067J109 748,406 13,500 X 01 13,500 0 0
BLACKROCK INC CL A 09247X101 623,500 21,500 X 01 21,500 0 0
BOOKHAM TECHNOLOGY PLC COM 09856Q108 746,550 12,600 X 01 12,600 0 0
BROADVISION INC COM 111412102 945,113 18,600 X 01 18,600 0 0
BURLINGTON RES INC COM 122014103 765,000 20,000 X 01 20,000 0 0
BURR BROWN COM 122574106 715,172 8,250 X 01 8,250 0 0
CTC COMMUNICATIONS GROUP INC COM 126419100 666,000 18,500 X 01 18,500 0 0
CABOT CORP COM 127055101 842,025 30,900 X 01 30,900 0 0
CABOT MICROELECTRONICS CORP COM 12709P103 530,700 11,600 X 01 11,600 0 0
CADIZ INC COM 127537108 360,000 45,000 X 01 45,000 0 0
CALPINE CORP COM 131347106 973,100 14,800 X 01 14,800 0 0
CELGENE CORP COM 151020104 612,300 10,400 X 01 10,400 0 0
CENTILLIUM COMMUNICATIONS INCCOM 152319109 924,600 13,400 X 01 13,400 0 0
CENTRAL NEWSPAPERS INC CL A 154647101 607,200 9,600 X 01 9,600 0 0
CEPHALON INC COM 156708109 502,950 8,400 X 01 8,400 0 0
CHARTER ONE FINL INC COM 160903100 485,300 21,100 X 01 21,100 0 0
CHARTER COMMUNICATIONS INC CL A 16117M107 706,813 43,000 X 01 43,000 0 0
CISCO SYS INC COM 17275R102 606,901 9,548 X 01 9,548 0 0
CITADEL COMMUNICATIONS CORP COM 172853202 1,299,675 37,200 X 01 37,200 0 0
CITY NATL CORP COM 178566105 549,050 15,800 X 01 15,800 0 0
COMERICA INC COM 200340107 744,925 16,600 X 01 16,600 0 0
COMMERCE BANCORP INC COM 200519106 788,440 17,140 X 01 17,140 0 0
COMMSCOPE INC COM 203372107 1,066,000 26,000 X 01 26,000 0 0
COMPASS BANCSHARES INC COM 20449H109 586,950 34,400 X 01 34,400 0 0
COMVERSE TECHNOLOGY INC COM 205862402 558,000 6,000 X 01 6,000 0 0
COOPER CAMERON CORP COM 216640102 653,400 9,900 X 01 9,900 0 0
COORS ADOLPH CO CL B 217016104 998,250 16,500 X 01 16,500 0 0
COPPER MTN NETWORKS INC COM 217510106 546,375 6,200 X 01 6,200 0 0
COUNTRYWIDE CR INDS INC COM 222372104 754,781 24,900 X 01 24,900 0 0
COX COMMUNICATIONS INC CL A 224044107 1,007,159 22,105 X 01 22,105 0 0
COX RADIO INC CL A 224051102 856,800 30,600 X 01 30,600 0 0
CREDENCE SYSTEMS CORP COM 225302108 618,100 11,200 X 01 11,200 0 0
CREE INC COM 225447101 534,000 4,000 X 01 4,000 0 0
CRITICAL PATH INC COM 22674V100 898,013 15,400 X 01 15,400 0 0
CROWN CASTLE INTL CORP COM 228227104 525,600 14,400 X 01 14,400 0 0
CYPRESS SEMICONDUCTOR CORP COM 232806109 659,100 15,600 X 01 15,600 0 0
DDI CORPORATION COM 233162106 1,040,250 36,500 X 01 36,500 0 0
DANAHER CORP COM 235851102 405,388 8,200 X 01 8,200 0 0
DIAMOND TECHNOLOGY PARTNER INCL A 252762109 607,200 6,900 X 01 6,900 0 0
DIME BANCORP INC COM 25429Q102 379,575 24,100 X 01 24,100 0 0
DYCOM INDS INC COM 267475101 966,000 21,000 X 01 21,000 0 0
E TEK DYNAMICS INC COM 269240107 1,820,306 6,900 X 01 6,900 0 0
EATON CORP COM 278058102 475,700 7,100 X 01 7,100 0 0
ENERGY EAST CORP COM 29266M109 337,406 17,700 X 01 17,700 0 0
ENTERCOM COMMUNICATIONS CORP CL A 293639100 721,500 14,800 X 01 14,800 0 0
ENTRUST TECHNOLOGIES INC COM 293848107 827,500 10,000 X 01 10,000 0 0
ENZON INC COM 293904108 565,250 13,300 X 01 13,300 0 0
EQUITABLE RES INC COM 294549100 448,725 9,300 X 01 9,300 0 0
EXAR CORP COM 300645108 1,007,016 11,550 X 01 11,550 0 0
EXODUS COMMUNICATIONS INC COM 302088109 1,704,313 37,000 X 01 37,000 0 0
FINISAR CORP COM 31787A101 775,150 29,600 X 01 29,600 0 0
FIRST HEALTH GROUP CORP COM 320960107 659,531 20,100 X 01 20,100 0 0
FLUOR CORP COM 343861100 445,913 14,100 X 01 14,100 0 0
GENOMIC SOLUTIONS INC COM 37243R109 690,300 47,200 X 01 47,200 0 0
GLOBESPAN SEMICONDUCTOR INC COM 379571102 695,845 5,700 X 01 5,700 0 0
GOLDEN ST BANCORP INC COM 381197102 588,600 32,700 X 01 32,700 0 0
GOLDEN WEST FINL CORP COM 381317106 685,650 16,800 X 01 16,800 0 0
HELIX TECHNOLOGY CORP COM 423319102 464,100 11,900 X 01 11,900 0 0
HENRY JACK & ASSOC INC COM 426281101 1,012,525 20,200 X 01 20,200 0 0
HIBERNIA CORP CL A 428656102 451,313 41,500 X 01 41,500 0 0
HISPANIC BROADCASTING CORP CL A 43357B104 626,063 18,900 X 01 18,900 0 0
HUDSON UTD BANCORP COM 444165104 329,831 14,700 X 01 14,700 0 0
HUMAN GENOME SCIENCES INC COM 444903108 533,500 4,000 X 01 4,000 0 0
IDEC PHARMACEUTICALS CORP COM 449370105 703,875 6,000 X 01 6,000 0 0
INET TECHNOLOGIES INC COM 45662V105 618,450 11,400 X 01 11,400 0 0
INFOSPACE INC COM 45678T102 453,050 8,200 X 01 8,200 0 0
INKTOMI CORP COM 457277101 733,150 6,200 X 01 6,200 0 0
INTEGRATED DEVICE TECHNOLOGY COM 458118106 784,363 13,100 X 01 13,100 0 0
THE INTERCEPT GROUP INC COM 45845L107 338,300 19,900 X 01 19,900 0 0
INTERNATIONAL RECTIFIER CORP COM 460254105 672,000 12,000 X 01 12,000 0 0
INTERSIL HLDG CORP CL A 46069S109 1,027,188 19,000 X 01 19,000 0 0
INTERTRUST TECHNOLOGIES CORP COM 46113Q109 464,713 22,600 X 01 22,600 0 0
INTERWOVEN INC COM 46114T102 868,877 7,900 X 01 7,900 0 0
INVESTMENT TECHNOLOGY GROUP COM 46145F105 280,450 7,100 X 01 7,100 0 0
IVAX CORP COM 465823102 1,487,775 35,850 X 01 35,850 0 0
JDS UNIPHASE CORP COM 46612J101 1,112,440 9,280 X 01 9,280 0 0
JONES PHARMA INC COM 480236108 1,172,166 29,350 X 01 29,350 0 0
JUNIPER NETWORKS INC COM 48203R104 960,713 6,600 X 01 6,600 0 0
KLA TENCOR CORP COM 482480100 1,264,950 21,600 X 01 21,600 0 0
K V PHARMACEUTICAL COMPANY CL A 482740206 527,350 19,900 X 01 19,900 0 0
KANA COMMUNICATIONS INC COM 483600102 776,531 12,550 X 01 12,550 0 0
KEMET CORP COM 488360108 548,869 21,900 X 01 21,900 0 0
KING PHARMACEUTICALS INC COM 495582108 717,356 16,350 X 01 16,350 0 0
LABORATORY CORP AMER HLDGS COM 50540R409 782,048 10,140 X 01 10,140 0 0
LAM RESH CORP COM 512807108 547,500 14,600 X 01 14,600 0 0
LAMAR ADVERTISING CO CL A 512815101 636,694 14,700 X 01 14,700 0 0
LEARNING TREE INTL INC COM 522015106 471,625 7,700 X 01 7,700 0 0
LEGG MASON INC COM 524901105 625,000 12,500 X 01 12,500 0 0
LOUIS DREYFUS NAT GAS CORP COM 546011107 579,281 18,500 X 01 18,500 0 0
LUBRIZOL CORP COM 549271104 462,000 22,000 X 01 22,000 0 0
MACROMEDIA INC COM 556100105 1,672,694 17,300 X 01 17,300 0 0
MARTIN MARIETTA MATLS INC COM 573284106 501,425 12,400 X 01 12,400 0 0
MAVERICK TUBE CORP COM 577914104 401,925 13,800 X 01 13,800 0 0
MCCORMICK & CO INC COM NON VT 579780206 520,000 16,000 X 01 0 016,000
MEDICIS PHARMACEUTICAL CORP CL A 584690309 604,200 10,600 X 01 10,600 0 0
MERCURY INTERACTIVE CORP COM 589405109 677,250 7,000 X 01 7,000 0 0
METASOLV SOFTWARE INC COM 591393103 444,400 10,100 X 01 10,100 0 0
METRIS COS INC COM 591598107 620,588 24,700 X 01 24,700 0 0
METROMEDIA FIBER NETWORK INC CL A 591689104 1,781,334 44,884 X 01 44,884 0 0
METTLER TOLEDO INTL INC COM 592688105 672,000 16,800 X 01 16,800 0 0
MICREL INC COM 594793101 547,313 12,600 X 01 12,600 0 0
MICROMUSE INC COM 595094103 843,970 5,100 X 01 5,100 0 0
MILLENNIUM PHARMACEUTICALS COM 599902103 760,750 6,800 X 01 6,800 0 0
MILLIPORECORP COM 601073109 587,925 7,800 X 01 7,800 0 0
MYLAN LABS INC COM 628530107 708,100 38,800 X 01 38,800 0 0
NATIONAL FUEL GAS CO COM 636180101 360,750 7,400 X 01 7,400 0 0
NETRO CORP COM 64114R109 963,900 16,800 X 01 16,800 0 0
NETRATINGS INC COM 64116M108 627,813 24,500 X 01 24,500 0 0
NETWORK APPLIANCE INC COM 64120L104 1,706,600 21,200 X 01 21,200 0 0
NEUBERGER BERMAN INC COM 641234109 651,000 14,000 X 01 14,000 0 0
NEW FOCUS INC COM 644383101 714,488 8,700 X 01 8,700 0 0
NEWPORT NEWS SHIPBUILDING INCCOM 652228107 485,100 13,200 X 01 13,200 0 0
NEXTEL PARTNERS INC CL A 65333F107 703,350 21,600 X 01 21,600 0 0
NEXT LEVEL COMMUNICATIONS INCCOM 65333U104 1,097,600 12,800 X 01 12,800 0 0
NUMERICALTECHNOLOGIES INC COM 67053T101 617,538 12,700 X 01 12,700 0 0
NVIDIA CORP COM 67066G104 800,888 12,600 X 01 12,600 0 0
OPTIMAL ROBOTICS CORP CL A 68388R208 1,343,125 35,000 X 01 35,000 0 0
PANAMSAT CORP COM 697933109 511,144 11,700 X 01 11,700 0 0
PERKINELMER INC COM 714046109 270,922 4,200 X 01 4,200 0 0
PHARMACOPEIA INC COM 71713B104 737,363 15,900 X 01 15,900 0 0
PHILADELPHIA SUBN CORP COM 718009608 492,000 24,000 X 01 24,000 0 0
PHONE.COM INC COM 71920Q100 429,825 6,600 X 01 6,600 0 0
PINNACLE HLDGS INC COM 72346N101 540,000 10,000 X 01 10,000 0 0
PLEXUS CORP COM 729132100 2,192,200 19,400 X 01 19,400 0 0
PORTAL SOFTWARE INC COM 736126103 900,638 14,100 X 01 14,100 0 0
POWERWAVE TECHNOLOGIES INC COM 739363109 488,400 11,100 X 01 11,100 0 0
PRAECIS PHARMACEUTICALS INC COM 739421105 529,625 19,000 X 01 19,000 0 0
PRIMUS TELECOMM GROUP INC COM 741929103 472,625 19,000 X 01 19,000 0 0
PROTECTIVE LIFE CORP COM 743674103 388,725 14,600 X 01 14,600 0 0
QLOGIC CORP COM 747277101 1,559,075 23,600 X 01 23,600 0 0
QUANTUM EFFECT DEVICES INC COM 74764T107 735,300 12,900 X 01 12,900 0 0
RF MICRO DEVICES INC COM 749941100 692,238 7,900 X 01 7,900 0 0
RADIO ONE INC CL A 75040P108 907,569 30,700 X 01 30,700 0 0
RADISYS CORP COM 750459109 634,791 11,000 X 01 11,000 0 0
RATIONAL SOFTWARE CORP COM 75409P202 557,625 6,000 X 01 6,000 0 0
RAYMOND JAMES FINANCIAL INC COM 754730109 578,250 25,700 X 01 25,700 0 0
REALNETWORKS INC COM 75605L104 606,750 12,000 X 01 12,000 0 0
REDBACK NETWORKS INC COM 757209101 1,299,400 7,300 X 01 7,300 0 0
REMEDY CORP COM 759548100 615,484 11,000 X 01 11,000 0 0
RICHMOND CNTY FINL CORP COM 764556106 351,900 18,400 X 01 18,400 0 0
SCG HLDG CORP COM 783884109 590,625 27,000 X 01 27,000 0 0
SCI SYS INC COM 783890106 705,375 18,000 X 01 18,000 0 0
SDL INC COM 784076101 1,311,863 4,600 X 01 4,600 0 0
SANDISK CORP COM 80004C101 605,756 9,900 X 01 9,900 0 0
SANMINA CORP COM 800907107 837,900 9,800 X 01 9,800 0 0
SCIENTIFIC ATLANTA INC COM 808655104 774,800 10,400 X 01 10,400 0 0
SELECTICA INC COM 816288104 735,656 10,500 X 01 10,500 0 0
SEMTECH CORP COM 816850101 634,820 8,300 X 01 8,300 0 0
SEPRACOR INC COM 817315104 554,875 4,600 X 01 4,600 0 0
SILICON LABORATORIES COM 826919102 579,063 10,900 X 01 10,900 0 0
SILICON IMAGE INC COM 82705T102 748,125 15,000 X 01 15,000 0 0
SILICON STORAGE TECHNOLOGY INCOM 827057100 741,825 8,400 X 01 8,400 0 0
SILICON VY BANCSHARES COM 827064106 711,838 16,700 X 01 16,700 0 0
SKYWEST INC COM 830879102 422,513 11,400 X 01 11,400 0 0
SMITH INTL INC COM 832110100 509,688 7,000 X 01 7,000 0 0
SOUTHDOWN INC COM 841297104 496,650 8,600 X 01 8,600 0 0
SOUTHTRUST CORP COM 844730101 411,775 18,200 X 01 18,200 0 0
SOUTHWEST BANCORPORATION COM 84476R109 605,900 29,200 X 01 29,200 0 0
SPANISH BROADCASTING SYS INC CL A 846425882 559,300 27,200 X 01 27,200 0 0
SPARTECH CORP COM 847220209 464,400 17,200 X 01 17,200 0 0
SPECTRASITE HLDGS INC COM 84760T100 354,688 12,500 X 01 12,500 0 0
STONE ENERGY CORP COM 861642106 555,675 9,300 X 01 9,300 0 0
STRATOS LIGHTWAVE INC COM 863100103 507,325 18,200 X 01 18,200 0 0
SUPERGEN INC COM 868059106 384,250 10,600 X 01 10,600 0 0
SWIFT TRANSN INC COM 870756103 397,600 28,400 X 01 28,400 0 0
SYCAMORE NETWORKS INC COM 871206108 1,324,500 12,000 X 01 12,000 0 0
SYMYX TECHNOLOGIES INC COM 87155S108 485,747 11,400 X 01 11,400 0 0
TCF FINANCIAL CORP COM 872275102 575,400 22,400 X 01 22,400 0 0
TELECORP PCS INC CL A 879299105 556,313 13,800 X 01 13,800 0 0
TENET HEALTHCARE CORP COM 88033G100 567,000 21,000 X 01 21,000 0 0
TEVA PHARMACEUTICAL INDS LTD ADR 881624209 1,142,013 20,600 X 01 20,600 0 0
TIBCO SOFTWARE INC COM 88632Q103 847,152 7,900 X 01 7,900 0 0
TIME WARNER TELECOM INC CL A 887319101 515,000 8,000 X 01 8,000 0 0
TRANSWITCH CORP COM 894065101 1,227,281 15,900 X 01 15,900 0 0
TRIQUINT SEMICONDUCTOR INC COM 89674K103 554,988 5,800 X 01 5,800 0 0
TRITON PCS HLDGS INC CL A 89677M106 837,375 14,500 X 01 14,500 0 0
TURNSTONESYS INC COM 900423104 828,359 5,000 X 01 5,000 0 0
ULTICOM INC COM 903844108 523,541 21,800 X 01 21,800 0 0
UNITED STATIONERS INC COM 913004107 932,400 28,800 X 01 28,800 0 0
VERISIGN INC COM 92343E102 2,329,800 13,200 X 01 13,200 0 0
VERITAS DGC INC COM 92343P107 592,800 22,800 X 01 22,800 0 0
VIRATA CORP COM 927646109 1,502,550 25,200 X 01 25,200 0 0
VISHAY INTERTECHNOLOGY INC COM 928298108 614,588 16,200 X 01 16,200 0 0
VITRIA TECHNOLOGY INC COM 92849Q104 831,300 13,600 X 01 13,600 0 0
WADDELL & REED FINL INC CL A 930059100 649,688 19,800 X 01 19,800 0 0
WATCHGUARD TECHNOLOGIES INC COM 941105108 829,556 15,100 X 01 15,100 0 0
WATERS CORP COM 941848103 586,619 4,700 X 01 4,700 0 0
WEATHERFORD INTL INC COM 947074100 660,888 16,600 X 01 16,600 0 0
WEBMETHODS INC COM 94768C108 675,906 4,300 X 01 4,300 0 0
WINTRUST FINL CORP COM 97650W108 393,656 25,500 X 01 25,500 0 0
XILINX INC COM 983919101 2,336,519 28,300 X 01 28,300 0 0
ZALE CORP COM 988858106 901,550 24,700 X 01 24,700 0 0
168,489,958
226 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 SHRDOTHRMGR A-SOLE B-SHRDC-NONE
AMDOCS LIMITED ORD G02602103 6,178,375 80,500 X 01 80,500 0 0
SANTA FE INTERNATIONAL CORP ORD G7805C108 10,704,850 306,400 X 01 306,400 0 0
TRANSOCEAN SEDCO FOREX INC ORD G90078109 8,794,477 164,575 X 01 164,575 0 0
CHECK POINT SOFTWARE ORD M22465104 10,121,650 47,800 X 01 47,800 0 0
FLEXTRONICS INTERNATIONAL ORD Y2573F102 14,491,277 210,974 X 01 210,974 0 0
AT & T CORP COM 001957109 6,753,835 213,560 X 01 213,560 0 0
AT & T CORP WIRELESS GROUP COM 001957406 5,753,400 206,400 X 01 206,400 0 0
AVX CORP COM 002444107 5,738,963 250,200 X 01 250,200 0 0
ADOBE SYS INC COM 00724F101 17,563,000 135,100 X 01 135,100 0 0
ADVANCED FIBRE COMMUNICATIONS COM 00754A105 6,130,781 135,300 X 01 135,300 0 0
ADVANCED MICRO DEVICES INC COM 007903107 39,938,250 517,000 X 01 517,000 0 0
ADVANCED ENERGY INDS INC COM 007973100 3,701,275 62,800 X 01 62,800 0 0
ADVENT SOFTWARE INC COM 007974108 7,378,800 114,400 X 01 114,400 0 0
AFFYMETRIX INC COM 00826T108 15,934,563 96,500 X 01 96,500 0 0
AGILENT TECHNOLOGIES INC COM 00846U101 20,570,940 278,928 X 01 278,928 0 0
ALTERA CORP COM 021441100 28,104,169 275,700 X 01 275,700 0 0
AMERICAN EXPRESS CO COM 025816109 26,052,075 499,800 X 01 499,800 0 0
AMERICAN PWR CONVERSION CORP COM 029066107 7,252,381 177,700 X 01 177,700 0 0
AMERICAN TOWER CORP CL A 029912201 10,538,600 252,800 X 01 252,800 0 0
AMGEN INC COM 031162100 23,435,400 333,600 X 01 333,600 0 0
AMKOR TECHNOLOGY INC COM 031652100 5,247,438 148,600 X 01 148,600 0 0
ANALOG DEVICES INC COM 032654105 28,880,000 380,000 X 01 380,000 0 0
ANDRX CORP COM 034551101 18,345,578 287,000 X 01 287,000 0 0
APACHE CORP COM 037411105 19,613,969 333,500 X 01 333,500 0 0
APPLE COMPUTER COM 037833100 17,179,000 328,000 X 01 328,000 0 0
APPLIED MICRO CIRCUITS CORP COM 03822W109 20,362,250 206,200 X 01 206,200 0 0
APPLIED MATERIALS INC COM 038222105 37,863,125 417,800 X 01 417,800 0 0
ARROW ELECTRS INC COM 042735100 6,193,800 199,800 X 01 199,800 0 0
ATMEL CORP COM 049513104 13,186,500 357,600 X 01 357,600 0 0
AVNET INC COM 053807103 7,856,550 132,600 X 01 132,600 0 0
BJ SVCS CO COM 055482103 9,406,250 150,500 X 01 150,500 0 0
BANK NEW YORK INC COM 064057102 10,927,500 235,000 X 01 235,000 0 0
BEA SYS INC COM 073325102 23,107,088 467,400 X 01 467,400 0 0
BEST BUY CO INC COM 086516101 9,582,375 151,500 X 01 151,500 0 0
BOOKHAM TECHNOLOGY PLC COM 09856Q108 7,169,250 121,000 X 01 121,000 0 0
BORDERS GROUP INC COM 099709107 473,100 30,400 X 01 30,400 0 0
BROADVISION INC COM 111412102 10,375,913 204,200 X 01 204,200 0 0
BROCADE COMMUNICATIONS SYS INC COM 111621108 10,091,641 55,000 X 01 55,000 0 0
BURLINGTON RES INC COM 122014103 5,928,750 155,000 X 01 155,000 0 0
BURR BROWN COM 122574106 13,367,213 154,200 X 01 154,200 0 0
CALPINE CORP COM 131347106 3,918,700 59,600 X 01 59,600 0 0
CEPHALON INC COM 156708109 12,340,238 206,100 X 01 206,100 0 0
CHARTER ONE FINL INC COM 160903100 6,906,900 300,300 X 01 300,300 0 0
CHARTERED SEMICONDUCTOR MFG ADR 16133R106 8,298,000 92,200 X 01 92,200 0 0
CIENA CORP COM 171779101 19,852,481 119,100 X 01 119,100 0 0
CISCO SYS INC COM 17275R102 148,354,875 2,334,000 X 01 2,334,000 0 0
CITIGROUP INC COM 172967101 116,505,425 1,933,700 X 01 1,933,700 0 0
COASTAL CORP COM 190441105 10,890,538 178,900 X 01 178,900 0 0
COMPAQ COMPUTER CORP COM 204493100 15,961,225 624,400 X 01 624,400 0 0
COMPUTER ASSOC INTL INC COM 204912109 3,839,063 75,000 X 01 75,000 0 0
COMVERSE TECHNOLOGY INC COM 205862402 8,965,200 96,400 X 01 96,400 0 0
CONEXANT SYS INC COM 207142100 4,507,538 92,700 X 01 92,700 0 0
COOPER CAMERON CORP COM 216640102 12,302,400 186,400 X 01 186,400 0 0
COPPER MTN NETWORKS INC COM 217510106 6,847,313 77,700 X 01 77,700 0 0
CORNING INC COM 219350105 55,189,438 204,500 X 01 204,500 0 0
COUNTRYWIDE CR INDS INC COM 222372104 7,287,125 240,400 X 01 240,400 0 0
CREDENCE SYSTEMS CORP COM 225302108 15,927,113 288,600 X 01 288,600 0 0
CREE INC COM 225447101 7,823,100 58,600 X 01 58,600 0 0
CROWN CASTLE INTL CORP COM 228227104 8,132,200 222,800 X 01 222,800 0 0
CYPRESS SEMICONDUCTOR CORP COM 232806109 23,136,100 547,600 X 01 547,600 0 0
DELL COMPUTER CORP COM 247025109 49,494,956 1,003,700 X 01 1,003,700 0 0
DISNEY WALT CO COM 254687106 48,484,575 1,249,200 X 01 1,249,200 0 0
DOW JONES & CO INC COM 260561105 8,057,500 110,000 X 01 110,000 0 0
E M C CORP COM 268648102 89,832,225 1,167,600 X 01 1,167,600 0 0
EOG RESOURCES INC COM 26875P101 6,030,000 180,000 X 01 180,000 0 0
EFFICIENT NETWORKS INC COM 282056100 11,122,650 151,200 X 01 151,200 0 0
ENZON INC COM 293904108 12,146,500 285,800 X 01 285,800 0 0
EPCOS AG COM 29410P107 4,590,100 46,600 X 01 46,600 0 0
EXODUS COMMUNICATIONS INC COM 302088109 36,278,825 787,600 X 01 787,600 0 0
EXXON MOBIL CORP COM 30231G102 48,827,000 622,000 X 01 622,000 0 0
GENENTECH INC COM 368710406 13,484,800 78,400 X 01 78,400 0 0
GENERAL ELEC CO COM 369604103 146,995,500 2,773,500 X 01 2,773,500 0 0
GLOBAL MARINE INC COM 379352404 6,189,975 219,600 X 01 219,600 0 0
GLOBESPAN SEMICONDUCTOR INC COM 379571102 11,438,720 93,700 X 01 93,700 0 0
GOLDEN WEST FINL CORP COM 381317106 13,741,569 336,700 X 01 336,700 0 0
HALLIBURTON CO COM 406216101 14,746,094 312,500 X 01 312,500 0 0
HEWLETT PACKARD CO COM 428236103 50,561,888 404,900 X 01 404,900 0 0
HUMAN GENOME SCIENCES INC COM 444903108 26,208,188 196,500 X 01 196,500 0 0
IMMUNEX CORP COM 452528102 6,451,594 130,500 X 01 130,500 0 0
INFINITY BROADCASTING CORP CL A 45662S102 12,049,881 330,700 X 01 330,700 0 0
INFOSPACE INC COM 45678T102 4,983,550 90,200 X 01 90,200 0 0
INKTOMI CORP COM 457277101 20,717,400 175,200 X 01 175,200 0 0
INTEGRATED DEVICE TECHNOLOGY COM 458118106 10,394,300 173,600 X 01 173,600 0 0
INTEL CORP COM 458140100 160,919,644 1,203,700 X 01 1,203,700 0 0
INTERNATIONAL BUSINESS MACHS COM 459200101 87,299,400 796,800 X 01 796,800 0 0
INTERNATIONAL RECTIFIER CORP COM 460254105 14,498,400 258,900 X 01 258,900 0 0
INTERSIL HLDG CORP CL A 46069S109 2,157,094 39,900 X 01 39,900 0 0
I2 TECHNOLOGIES INC COM 465754109 5,004,750 48,000 X 01 48,000 0 0
JDS UNIPHASE CORP COM 46612J101 52,312,251 436,390 X 01 436,390 0 0
JABIL CIRCUIT INC COM 466313103 5,339,650 107,600 X 01 107,600 0 0
JUNIPER NETWORKS INC COM 48203R104 13,537,313 93,000 X 01 93,000 0 0
KLA TENCOR CORP COM 482480100 14,008,150 239,200 X 01 239,200 0 0
KEMET CORP COM 488360108 12,842,025 512,400 X 01 512,400 0 0
KERR MCGEE CORP COM 492386107 10,490,875 178,000 X 01 178,000 0 0
LSI LOGIC CORP COM 502161102 49,481,075 914,200 X 01 914,200 0 0
LTX CORP COM 502392103 5,254,600 150,400 X 01 150,400 0 0
LAM RESH CORP COM 512807108 11,767,500 313,800 X 01 313,800 0 0
LEGG MASON INC COM 524901105 4,366,600 87,332 X 01 87,332 0 0
LEHMAN BROTHERS HLDGS INC COM 524908100 40,236,344 425,500 X 01 425,500 0 0
LEVEL 3 COMMUNICATIONS INC COM 52729N100 17,538,400 199,300 X 01 199,300 0 0
MCLEODUSA INC COM 582266102 4,822,256 233,100 X 01 233,100 0 0
MEDIMMUNE INC COM 584699102 12,735,400 172,100 X 01 172,100 0 0
MELLON FINL CORP COM 58551A108 15,795,656 433,500 X 01 433,500 0 0
MERCATOR SOFTWARE INC COM 587587106 8,903,125 129,500 X 01 129,500 0 0
MERCURY INTERACTIVE CORP COM 589405109 19,388,700 200,400 X 01 200,400 0 0
MERRILL LYNCH & CO INC COM 590188108 32,154,000 279,600 X 01 279,600 0 0
MICREL INC COM 594793101 19,069,063 439,000 X 01 439,000 0 0
MICROSOFT CORP COM 594918104 168,514,800 2,106,435 X 01 2,106,435 0 0
MICROCHIP TECHNOLOGY INC COM 595017104 9,150,616 157,050 X 01 157,050 0 0
MICROMUSE INC COM 595094103 18,302,572 110,600 X 01 110,600 0 0
MICRON TECHNOLOGY INC COM 595112103 45,616,375 518,000 X 01 518,000 0 0
MILLENNIUM PHARMACEUTICALS COM 599902103 23,314,750 208,400 X 01 208,400 0 0
MORGAN STANLEY DEAN WITTER & CO COM 617446448 50,599,350 607,800 X 01 607,800 0 0
MYRIAD GENETICS INC COM 62855J104 5,701,008 38,500 X 01 38,500 0 0
NATIONAL SEMICONDUCTOR CORP COM 637640103 26,371,725 464,700 X 01 464,700 0 0
NETWORK APPLIANCE INC COM 64120L104 5,916,750 73,500 X 01 73,500 0 0
NEWFIELD EXPL CO COM 651290108 10,430,725 266,600 X 01 266,600 0 0
NEXTEL COMMUNICATIONS INC CL A 65332V103 16,104,550 263,200 X 01 263,200 0 0
NEXTEL PARTNERS INC CL A 65333F107 11,875,544 364,700 X 01 364,700 0 0
NEXTLINK COMMUNICATIONS INC CL A 65333H707 9,097,413 239,800 X 01 239,800 0 0
NOKIA CORP ADR 654902204 30,481,850 610,400 X 01 610,400 0 0
NOBLE DRILLING CORP COM 655042109 12,529,238 304,200 X 01 304,200 0 0
NORTEL NETWORKS CORP COM 656568102 110,339,775 1,616,700 X 01 1,616,700 0 0
NOVELLUS SYS INC COM 670008101 5,463,938 96,600 X 01 96,600 0 0
NVIDIA CORP COM 67066G104 14,670,225 230,800 X 01 230,800 0 0
OMNICOM GROUP COM 681919106 8,772,656 98,500 X 01 98,500 0 0
ORACLE CORP COM 68389X105 90,367,188 1,075,000 X 01 1,075,000 0 0
PMC SIERRA INC COM 69344F106 14,712,525 82,800 X 01 82,800 0 0
PALM INC COM 696642107 4,422,188 132,500 X 01 132,500 0 0
PARADYNE CORP COM 69911G107 7,997,350 245,600 X 01 245,600 0 0
PERKINELMER INC COM 714046109 2,805,976 43,500 X 01 43,500 0 0
PHONE.COM INC COM 71920Q100 2,956,675 45,400 X 01 45,400 0 0
PINNACLE HLDGS INC COM 72346N101 5,535,000 102,500 X 01 102,500 0 0
PREMIER NATL BANCORP INC COM 74053F107 2,167,945 166,765 X 01 166,765 0 0
PRIMUS TELECOMM GROUP INC COM 741929103 6,502,325 261,400 X 01 261,400 0 0
PROXIM INC COM 744284100 15,646,959 158,100 X 01 158,100 0 0
QLOGIC CORP COM 747277101 3,983,569 60,300 X 01 60,300 0 0
QUALCOMM INC COM 747525103 17,580,000 293,000 X 01 293,000 0 0
QWEST COMMUNICATIONS INTL INC COM 749121109 44,077,781 887,100 X 01 887,100 0 0
RF MICRO DEVICES INC COM 749941100 4,600,313 52,500 X 01 52,500 0 0
RATIONAL SOFTWARE CORP COM 75409P202 10,130,188 109,000 X 01 109,000 0 0
REDBACK NETWORKS INC COM 757209101 7,066,600 39,700 X 01 39,700 0 0
REGENERON PHARMACEUTICALS INC COM 75886F107 6,630,300 222,400 X 01 222,400 0 0
ROYAL DUTCH PETE CO NY RED GLD 780257804 52,894,500 859,200 X 01 859,200 0 0
SCI SYS INC COM 783890106 19,938,600 508,800 X 01 508,800 0 0
SDL INC COM 784076101 21,873,881 76,700 X 01 76,700 0 0
SAGA SYS INC COM 786610105 4,322,031 347,500 X 01 347,500 0 0
SANDISK CORP COM 80004C101 5,115,275 83,600 X 01 83,600 0 0
SANMINA CORP COM 800907107 12,004,200 140,400 X 01 140,400 0 0
SCHLUMBERGER LTD COM 806857108 21,589,013 289,300 X 01 289,300 0 0
SCHWAB CHARLES CORP COM 808513105 18,153,515 539,882 X 01 539,882 0 0
SCIENTIFIC ATLANTA INC COM 808655104 29,680,800 398,400 X 01 398,400 0 0
SEMTECH CORP COM 816850101 17,966,180 234,900 X 01 234,900 0 0
SEPRACOR INC COM 817315104 15,801,875 131,000 X 01 131,000 0 0
SIEBEL SYS INC COM 826170102 29,866,513 182,600 X 01 182,600 0 0
SILICON IMAGE INC COM 82705T102 6,583,500 132,000 X 01 132,000 0 0
SPRINT CORP PCS COM 852061506 22,288,700 374,600 X 01 374,600 0 0
STARBUCKS CORP COM 855244109 11,914,500 312,000 X 01 312,000 0 0
STMICROELECTRONICS N V COM 861012102 7,586,963 118,200 X 01 118,200 0 0
SUN MICROSYSTEMS INC COM 866810104 55,490,063 610,200 X 01 610,200 0 0
SYMANTEC CORP COM 871503108 14,795,056 274,300 X 01 274,300 0 0
TAIWAN SEMICNDCTR MFG CO LTD ADR 874039100 7,430,080 191,744 X 01 191,744 0 0
TAIWAN SEMICONDUCTOR MFG CO LTD NADR 874039209 2,581,031 66,500 X 01 66,500 0 0
TALISMAN ENERGY INC COM 87425E103 17,907,375 540,600 X 01 540,600 0 0
TENET HEALTHCARE CORP COM 88033G100 15,060,600 557,800 X 01 557,800 0 0
TERADYNE INC COM 880770102 22,013,250 299,500 X 01 299,500 0 0
TEXAS INSTRS INC COM 882508104 57,079,313 831,000 X 01 831,000 0 0
TIBCO SOFTWARE INC COM 88632Q103 17,329,075 161,600 X 01 161,600 0 0
TIME WARNER TELECOM INC CL A 887319101 14,568,063 226,300 X 01 226,300 0 0
TOSCO CORP COM 891490302 5,090,588 179,800 X 01 179,800 0 0
TRANSWITCH CORP COM 894065101 13,280,109 172,050 X 01 172,050 0 0
TRIQUINT SEMICONDUCTOR INC COM 89674K103 5,836,938 61,000 X 01 61,000 0 0
TRITON PCS HLDGS INC CL A 89677M106 6,583,500 114,000 X 01 114,000 0 0
U S WEST INC COM 91273H101 14,208,775 165,700 X 01 165,700 0 0
UNITED STATIONERS INC COM 913004107 6,889,400 212,800 X 01 212,800 0 0
VASTAR RES INC COM 922380100 12,491,213 152,100 X 01 152,100 0 0
VERISIGN INC COM 92343E102 31,068,413 176,025 X 01 176,025 0 0
VERITAS SOFTWARE CORP COM 923436109 10,679,977 94,500 X 01 94,500 0 0
VERTEX PHARMACEUTICALS INC COM 92532F100 7,281,413 69,100 X 01 69,100 0 0
VIACOM INC CL B 925524308 33,402,533 489,863 X 01 489,863 0 0
VISHAY INTERTECHNOLOGY INC COM 928298108 21,066,694 555,300 X 01 555,300 0 0
VITRIA TECHNOLOGY INC COM 92849Q104 12,420,600 203,200 X 01 203,200 0 0
VITESSE SEMICONDUCTOR CORP COM 928497106 10,644,494 144,700 X 01 144,700 0 0
WASHINGTON MUT INC COM 939322103 5,775,000 200,000 X 01 200,000 0 0
WEATHERFORD INTL INC COM 947074100 13,114,238 329,400 X 01 329,400 0 0
WILLIAMS COMMUNICATIONS GROUP CL A 969455104 1,506,713 45,400 X 01 45,400 0 0
XILINX INC COM 983919101 60,881,588 737,400 X 01 737,400 0 0
YAHOO INC COM 984332106 25,766,000 208,000 X 01 208,000 0 0
3,970,288,246
188 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/PRININV DISCRETION VOTING AUTHORITY (SHARES)
CLASS NUMBER SOLE SHRD OTHRMGR A-SOLE B-SHRDC-NONE
MARVELL TECHNOLOGY GROUP LTD ORD G5876H105 1,077,300 18,900 X 01 18,900 0 0
OPENTV CORP CL A G67543101 848,138 18,900 X 01 18,900 0 0
SANTA FE INTERNATIONAL CORP ORD G7805C108 1,009,694 28,900 X 01 28,900 0 0
AUDIO CODES LTD ORD M15342104 1,584,000 13,200 X 01 13,200 0 0
METALINK LTD ORD M69897102 752,475 25,400 X 01 25,400 0 0
M SYS FLASH DISK PIONEERS LTD ORD M7061C100 1,199,275 15,400 X 01 15,400 0 0
FLEXTRONICS INTERNATIONAL ORD Y2573F102 3,153,855 45,916 X 01 45,916 0 0
AVX CORP COM 002444107 1,011,544 44,100 X 01 44,100 0 0
ACCELERATED NETWORKS INC COM 00429P107 995,625 23,600 X 01 23,600 0 0
ADELPHIA COMMUNICATIONS CORP CL A 006848105 1,223,438 26,100 X 01 26,100 0 0
ADVANCED MICRO DEVICES INC COM 007903107 2,479,725 32,100 X 01 32,100 0 0
ADVANCED ENERGY INDS INC COM 007973100 1,119,813 19,000 X 01 19,000 0 0
AETHER SYSTEMS INC COM 00808V105 1,537,500 7,500 X 01 7,500 0 0
AFFYMETRIX INC COM 00826T108 677,013 4,100 X 01 4,100 0 0
AGILE SOFTWARE CORP COM 00846X105 1,343,063 19,000 X 01 19,000 0 0
AKAMAI TECHNOLOGIES INC COM 00971T101 1,519,800 12,800 X 01 12,800 0 0
ALKERMES INC COM 01642T108 735,150 15,600 X 01 15,600 0 0
ALLERGAN INC COM 018490102 1,057,900 14,200 X 01 14,200 0 0
ALLMERICA FINL CORP COM 019754100 785,625 15,000 X 01 15,000 0 0
ALPHARMA INC CL A 020813101 1,475,325 23,700 X 01 23,700 0 0
AMERICAN CAP STRATEGIES LTD COM 024937104 1,602,013 67,100 X 01 67,100 0 0
AMERICAN STD COS INC COM 029712106 828,200 20,200 X 01 20,200 0 0
AMERICAN TOWER CORP CL A 029912201 896,281 21,500 X 01 21,500 0 0
AMPHENOL CORP CL A 032095101 1,257,563 19,000 X 01 19,000 0 0
ANDRX CORP COM 034551101 1,482,988 23,200 X 01 23,200 0 0
APPLIED MICRO CIRCUITS CORP COM 03822W109 3,120,500 31,600 X 01 31,600 0 0
ATLANTIC COAST AIRLINES HLDGS COM 048396105 777,875 24,500 X 01 24,500 0 0
AVANEX CORP COM 05348W109 916,800 9,600 X 01 9,600 0 0
BB & T CORP COM 054937107 1,437,275 60,200 X 01 60,200 0 0
BJS WHSL CLUB INC COM 05548J106 1,749,000 53,000 X 01 53,000 0 0
BJ SVCS CO COM 055482103 2,818,750 45,100 X 01 45,100 0 0
BANK UTD CORP CL A 065412108 862,094 24,500 X 01 24,500 0 0
BANKNORTH GROUP INC COM 06646R107 909,563 59,400 X 01 59,400 0 0
BEA SYS INC COM 073325102 1,255,713 25,400 X 01 25,400 0 0
BIOVAIL CORP COM 09067J109 1,297,238 23,400 X 01 23,400 0 0
BLACKROCK INC CL A 09247X101 1,084,600 37,400 X 01 37,400 0 0
BOOKHAM TECHNOLOGY PLC COM 09856Q108 1,327,200 22,400 X 01 22,400 0 0
BROADVISION INC COM 111412102 1,615,838 31,800 X 01 31,800 0 0
BURLINGTON RES INC COM 122014103 1,331,100 34,800 X 01 34,800 0 0
BURR BROWN COM 122574106 1,256,969 14,500 X 01 14,500 0 0
CTC COMMUNICATIONS GROUP INC COM 126419100 1,162,800 32,300 X 01 32,300 0 0
CABOT CORP COM 127055101 1,441,525 52,900 X 01 52,900 0 0
CABOT MICROELECTRONICS CORP COM 12709P103 919,575 20,100 X 01 20,100 0 0
CADIZ INC COM 127537108 652,800 81,600 X 01 81,600 0 0
CALPINE CORP COM 131347106 1,748,950 26,600 X 01 26,600 0 0
CELGENE CORP COM 151020104 1,065,638 18,100 X 01 18,100 0 0
CENTILLIUM COMMUNICATIONS INC COM 152319109 1,593,900 23,100 X 01 23,100 0 0
CENTRAL NEWSPAPERS INC CL A 154647101 1,056,275 16,700 X 01 16,700 0 0
CEPHALON INC COM 156708109 898,125 15,000 X 01 15,000 0 0
CHARTER ONE FINL INC COM 160903100 846,400 36,800 X 01 36,800 0 0
CHARTER COMMUNICATIONS INC CL A 16117M107 1,229,525 74,800 X 01 74,800 0 0
CISCO SYS INC COM 17275R102 1,078,935 16,974 X 01 16,974 0 0
CITADEL COMMUNICATIONS CORP COM 172853202 2,194,075 62,800 X 01 62,800 0 0
CITY NATLCORP COM 178566105 990,375 28,500 X 01 28,500 0 0
COMERICA INC COM 200340107 1,355,225 30,200 X 01 30,200 0 0
COMMERCE BANCORP INC COM 200519106 1,439,340 31,290 X 01 31,290 0 0
COMMSCOPE INC COM 203372107 1,804,000 44,000 X 01 44,000 0 0
COMPASS BANCSHARES INC COM 20449H109 1,071,525 62,800 X 01 62,800 0 0
COMVERSE TECHNOLOGY INC COM 205862402 1,004,400 10,800 X 01 10,800 0 0
COOPER CAMERON CORP COM 216640102 1,135,200 17,200 X 01 17,200 0 0
COORS ADOLPH CO CL B 217016104 1,736,350 28,700 X 01 28,700 0 0
COPPER MTN NETWORKS INC COM 217510106 951,750 10,800 X 01 10,800 0 0
COUNTRYWIDE CR INDS INC COM 222372104 1,333,750 44,000 X 01 44,000 0 0
COX COMMUNICATIONS INC CL A 224044107 1,696,656 37,238 X 01 37,238 0 0
COX RADIO INC CL A 224051102 1,453,200 51,900 X 01 51,900 0 0
CREDENCE SYSTEMS CORP COM 225302108 1,059,600 19,200 X 01 19,200 0 0
CREE INC COM 225447101 934,500 7,000 X 01 7,000 0 0
CRITICAL PATH INC COM 22674V100 1,568,606 26,900 X 01 26,900 0 0
CROWN CASTLE INTL CORP COM 228227104 905,200 24,800 X 01 24,800 0 0
CYPRESS SEMICONDUCTOR CORP COM 232806109 1,149,200 27,200 X 01 27,200 0 0
DDI CORPORATION COM 233162106 1,809,750 63,500 X 01 63,500 0 0
DANAHER CORP COM 235851102 726,731 14,700 X 01 14,700 0 0
DIAMOND TECHNOLOGY PARTNER INC CL A 252762109 1,064,800 12,100 X 01 12,100 0 0
DIME BANCORP INC COM 25429Q102 694,575 44,100 X 01 44,100 0 0
DYCOM INDS INC COM 267475101 1,656,000 36,000 X 01 36,000 0 0
E TEK DYNAMICS INC COM 269240107 3,218,513 12,200 X 01 12,200 0 0
EATON CORP COM 278058102 830,800 12,400 X 01 12,400 0 0
ENERGY EAST CORP COM 29266M109 611,906 32,100 X 01 32,100 0 0
ENTERCOM COMMUNICATIONS CORP CL A 293639100 1,228,500 25,200 X 01 25,200 0 0
ENTRUST TECHNOLOGIES INC COM 293848107 1,439,850 17,400 X 01 17,400 0 0
ENZON INC COM 293904108 986,000 23,200 X 01 23,200 0 0
EQUITABLE RES INC COM 294549100 757,525 15,700 X 01 15,700 0 0
EXAR CORP COM 300645108 1,739,391 19,950 X 01 19,950 0 0
EXODUS COMMUNICATIONS INC COM 302088109 3,086,188 67,000 X 01 67,000 0 0
FINISAR CORP COM 31787A101 1,346,038 51,400 X 01 51,400 0 0
FIRST HEALTH GROUP CORP COM 320960107 1,151,719 35,100 X 01 35,100 0 0
FLUOR CORP COM 343861100 809,600 25,600 X 01 25,600 0 0
GENOMIC SOLUTIONS INC COM 37243R109 1,200,713 82,100 X 01 82,100 0 0
GLOBESPAN SEMICONDUCTOR INC COM 379571102 1,208,573 9,900 X 01 9,900 0 0
GOLDEN ST BANCORP INC COM 381197102 1,020,600 56,700 X 01 56,700 0 0
GOLDEN WEST FINL CORP COM 381317106 1,236,619 30,300 X 01 30,300 0 0
HELIX TECHNOLOGY CORP COM 423319102 811,200 20,800 X 01 20,800 0 0
HENRY JACK & ASSOC INC COM 426281101 1,774,425 35,400 X 01 35,400 0 0
HIBERNIA CORP CL A 428656102 785,175 72,200 X 01 72,200 0 0
HISPANIC BROADCASTING CORP CL A 43357B104 1,089,813 32,900 X 01 32,900 0 0
HUDSON UTD BANCORP COM 444165104 576,644 25,700 X 01 25,700 0 0
HUMAN GENOME SCIENCES INC COM 444903108 973,638 7,300 X 01 7,300 0 0
IDEC PHARMACEUTICALS CORP COM 449370105 1,220,050 10,400 X 01 10,400 0 0
INET TECHNOLOGIES INC COM 45662V105 1,063,300 19,600 X 01 19,600 0 0
INFOSPACE INC COM 45678T102 790,075 14,300 X 01 14,300 0 0
INKTOMI CORP COM 457277101 1,277,100 10,800 X 01 10,800 0 0
INTEGRATED DEVICE TECHNOLOGY COM 458118106 1,347,188 22,500 X 01 22,500 0 0
THE INTERCEPT GROUP INC COM 45845L107 583,100 34,300 X 01 34,300 0 0
INTERNATIONAL RECTIFIER CORP COM 460254105 1,288,000 23,000 X 01 23,000 0 0
INTERSIL HLDG CORP CL A 46069S109 1,838,125 34,000 X 01 34,000 0 0
INTERTRUST TECHNOLOGIES CORP COM 46113Q109 810,163 39,400 X 01 39,400 0 0
INTERWOVEN INC COM 46114T102 1,517,784 13,800 X 01 13,800 0 0
INVESTMENT TECHNOLOGY GROUP COM 46145F105 493,750 12,500 X 01 12,500 0 0
IVAX CORP COM 465823102 2,597,900 62,600 X 01 62,600 0 0
JDS UNIPHASE CORP COM 46612J101 1,913,205 15,960 X 01 15,960 0 0
JONES PHARMA INC COM 480236108 2,036,813 51,000 X 01 51,000 0 0
JUNIPER NETWORKS INC COM 48203R104 1,659,413 11,400 X 01 11,400 0 0
KLA TENCOR CORP COM 482480100 1,920,850 32,800 X 01 32,800 0 0
K V PHARMACEUTICAL COMPANY CL A 482740206 919,550 34,700 X 01 34,700 0 0
KANA COMMUNICATIONS INC COM 483600102 1,197,281 19,350 X 01 19,350 0 0
KEMET CORP COM 488360108 959,894 38,300 X 01 38,300 0 0
KING PHARMACEUTICALS INC COM 495582108 1,257,019 28,650 X 01 28,650 0 0
LABORATORY CORP AMER HLDGS COM 50540R409 1,357,400 17,600 X 01 17,600 0 0
LAM RESH CORP COM 512807108 956,250 25,500 X 01 25,500 0 0
LAMAR ADVERTISING CO CL A 512815101 1,108,800 25,600 X 01 25,600 0 0
LEARNING TREE INTL INC COM 522015106 833,000 13,600 X 01 13,600 0 0
LEGG MASON INC COM 524901105 1,425,000 28,500 X 01 28,500 0 0
LOUIS DREYFUS NAT GAS CORP COM 546011107 989,475 31,600 X 01 31,600 0 0
LUBRIZOL CORP COM 549271104 802,200 38,200 X 01 38,200 0 0
MACROMEDIA INC COM 556100105 2,890,956 29,900 X 01 29,900 0 0
MARTIN MARIETTA MATLS INC COM 573284106 861,319 21,300 X 01 21,300 0 0
MAVERICK TUBE CORP COM 577914104 961,125 33,000 X 01 33,000 0 0
MCCORMICK & CO INC COM NON VTG 579780206 910,000 28,000 X 01 0 028,000
MEDICIS PHARMACEUTICAL CORP CL A 584690309 1,071,600 18,800 X 01 18,800 0 0
MERCURY INTERACTIVE CORP COM 589405109 1,180,350 12,200 X 01 12,200 0 0
METASOLV SOFTWARE INC COM 591393103 774,400 17,600 X 01 17,600 0 0
METRIS COS INC COM 591598107 1,087,913 43,300 X 01 43,300 0 0
METROMEDIA FIBER NETWORK INC CL A 591689104 2,424,906 61,100 X 01 61,100 0 0
METTLER TOLEDO INTL INC COM 592688105 1,164,000 29,100 X 01 29,100 0 0
MICREL INC COM 594793101 964,313 22,200 X 01 22,200 0 0
MICROMUSE INC COM 595094103 1,489,359 9,000 X 01 9,000 0 0
MILLENNIUM PHARMACEUTICALS COM 599902103 1,308,938 11,700 X 01 11,700 0 0
MILLIPORE CORP COM 601073109 1,025,100 13,600 X 01 13,600 0 0
MYLAN LABS INC COM 628530107 1,231,875 67,500 X 01 67,500 0 0
NATIONAL FUEL GAS CO COM 636180101 614,250 12,600 X 01 12,600 0 0
NETRO CORP COM 64114R109 1,675,350 29,200 X 01 29,200 0 0
NETRATINGS INC COM 64116M108 1,130,063 44,100 X 01 44,100 0 0
NETWORK APPLIANCE INC COM 64120L104 3,525,900 43,800 X 01 43,800 0 0
NEUBERGER BERMAN INC COM 641234109 1,134,600 24,400 X 01 24,400 0 0
NEW FOCUS INC COM 644383101 1,256,513 15,300 X 01 15,300 0 0
NEWPORT NEWS SHIPBUILDING INC COM 652228107 874,650 23,800 X 01 23,800 0 0
NEXTEL PARTNERS INC CL A 65333F107 1,269,938 39,000 X 01 39,000 0 0
NEXT LEVEL COMMUNICATIONS INC COM 65333U104 1,903,650 22,200 X 01 22,200 0 0
NUMERICALTECHNOLOGIES INC COM 67053T101 1,084,338 22,300 X 01 22,300 0 0
NVIDIA CORP COM 67066G104 1,385,663 21,800 X 01 21,800 0 0
OPTIMAL ROBOTICS CORP CL A 68388R208 2,494,375 65,000 X 01 65,000 0 0
PANAMSAT CORP COM 697933109 886,856 20,300 X 01 20,300 0 0
PERKINELMER INC COM 714046109 470,888 7,300 X 01 7,300 0 0
PHARMACOPEIA INC COM 71713B104 1,284,588 27,700 X 01 27,700 0 0
PHILADELPHIA SUBN CORP COM 718009608 854,850 41,700 X 01 41,700 0 0
PHONE.COM INC COM 71920Q100 742,425 11,400 X 01 11,400 0 0
PINNACLE HLDGS INC COM 72346N101 928,800 17,200 X 01 17,200 0 0
PLEXUS CORP COM 729132100 3,819,400 33,800 X 01 33,800 0 0
PORTAL SOFTWARE INC COM 736126103 1,584,100 24,800 X 01 24,800 0 0
POWERWAVE TECHNOLOGIES INC COM 739363109 871,200 19,800 X 01 19,800 0 0
PRAECIS PHARMACEUTICALS INC COM 739421105 919,875 33,000 X 01 33,000 0 0
PRIMUS TELECOMM GROUP INC COM 741929103 865,650 34,800 X 01 34,800 0 0
PROTECTIVE LIFE CORP COM 743674103 567,113 21,300 X 01 21,300 0 0
QLOGIC CORP COM 747277101 2,715,169 41,100 X 01 41,100 0 0
QUANTUM EFFECT DEVICES INC COM 74764T107 1,265,400 22,200 X 01 22,200 0 0
RF MICRO DEVICES INC COM 749941100 1,200,463 13,700 X 01 13,700 0 0
RADIO ONE INC CL A 75040P108 1,575,681 53,300 X 01 53,300 0 0
RADISYS CORP COM 750459109 1,096,458 19,000 X 01 19,000 0 0
RATIONAL SOFTWARE CORP COM 75409P202 1,022,313 11,000 X 01 11,000 0 0
RAYMOND JAMES FINANCIAL INC COM 754730109 1,003,500 44,600 X 01 44,600 0 0
REALNETWORKS INC COM 75605L104 809,000 16,000 X 01 16,000 0 0
REDBACK NETWORKS INC COM 757209101 2,260,600 12,700 X 01 12,700 0 0
REMEDY CORP COM 759548100 1,063,109 19,000 X 01 19,000 0 0
RICHMOND CNTY FINL CORP COM 764556106 621,563 32,500 X 01 32,500 0 0
SCG HLDG CORP COM 783884109 1,050,000 48,000 X 01 48,000 0 0
SCI SYS INC COM 783890106 1,230,488 31,400 X 01 31,400 0 0
SDL INC COM 784076101 2,310,019 8,100 X 01 8,100 0 0
SANDISK CORP COM 80004C101 1,058,544 17,300 X 01 17,300 0 0
SANMINA CORP COM 800907107 1,470,600 17,200 X 01 17,200 0 0
SCIENTIFIC ATLANTA INC COM 808655104 1,355,900 18,200 X 01 18,200 0 0
SELECTICA INC COM 816288104 1,296,156 18,500 X 01 18,500 0 0
SEMTECH CORP COM 816850101 1,109,023 14,500 X 01 14,500 0 0
SEPRACOR INC COM 817315104 989,125 8,200 X 01 8,200 0 0
SILICON LABORATORIES COM 826919102 1,009,375 19,000 X 01 19,000 0 0
SILICON IMAGE INC COM 82705T102 1,296,750 26,000 X 01 26,000 0 0
SILICON STORAGE TECHNOLOGY INC COM 827057100 1,298,194 14,700 X 01 14,700 0 0
SILICON VY BANCSHARES COM 827064106 1,236,125 29,000 X 01 29,000 0 0
SKYWEST INC COM 830879102 737,544 19,900 X 01 19,900 0 0
SMITH INTL INC COM 832110100 946,563 13,000 X 01 13,000 0 0
SOUTHDOWN INC COM 841297104 860,475 14,900 X 01 14,900 0 0
SOUTHTRUST CORP COM 844730101 724,000 32,000 X 01 32,000 0 0
SOUTHWEST BANCORPORATION COM 84476R109 1,095,600 52,800 X 01 52,800 0 0
SPANISH BROADCASTING SYS INC CL A 846425882 1,017,844 49,500 X 01 49,500 0 0
SPARTECH CORP COM 847220209 807,300 29,900 X 01 29,900 0 0
SPECTRASITE HLDGS INC COM 84760T100 959,075 33,800 X 01 33,800 0 0
STONE ENERGY CORP COM 861642106 938,075 15,700 X 01 15,700 0 0
STRATOS LIGHTWAVE INC COM 863100103 886,425 31,800 X 01 31,800 0 0
SUPERGEN INC COM 868059106 699,625 19,300 X 01 19,300 0 0
SWIFT TRANSN INC COM 870756103 693,000 49,500 X 01 49,500 0 0
SYCAMORE NETWORKS INC COM 871206108 1,324,500 12,000 X 01 12,000 0 0
SYMYX TECHNOLOGIES INC COM 87155S108 843,666 19,800 X 01 19,800 0 0
TCF FINANCIAL CORP COM 872275102 1,035,206 40,300 X 01 40,300 0 0
TELECORP PCS INC CL A 879299105 967,500 24,000 X 01 24,000 0 0
TENET HEALTHCARE CORP COM 88033G100 1,026,000 38,000 X 01 38,000 0 0
TEVA PHARMACEUTICAL INDS LTD ADR 881624209 2,029,013 36,600 X 01 36,600 0 0
TIBCO SOFTWARE INC COM 88632Q103 1,490,558 13,900 X 01 13,900 0 0
TIME WARNER TELECOM INC CL A 887319101 894,813 13,900 X 01 13,900 0 0
TRANSWITCH CORP COM 894065101 2,118,797 27,450 X 01 27,450 0 0
TRIQUINT SEMICONDUCTOR INC COM 89674K103 956,875 10,000 X 01 10,000 0 0
TRITON PCS HLDGS INC CL A 89677M106 1,478,400 25,600 X 01 25,600 0 0
TURNSTONE SYS INC COM 900423104 1,491,047 9,000 X 01 9,000 0 0
ULTICOM INC COM 903844108 910,192 37,900 X 01 37,900 0 0
UNITED STATIONERS INC COM 913004107 1,625,225 50,200 X 01 50,200 0 0
VERISIGN INC COM 92343E102 4,024,200 22,800 X 01 22,800 0 0
VERITAS DGC INC COM 92343P107 1,076,400 41,400 X 01 41,400 0 0
VIRATA CORP COM 927646109 2,623,500 44,000 X 01 44,000 0 0
VISHAY INTERTECHNOLOGY INC COM 928298108 1,088,806 28,700 X 01 28,700 0 0
VITRIA TECHNOLOGY INC COM 92849Q104 1,442,550 23,600 X 01 23,600 0 0
WADDELL & REED FINL INC CL A 930059100 1,128,750 34,400 X 01 34,400 0 0
WATCHGUARD TECHNOLOGIES INC COM 941105108 1,450,350 26,400 X 01 26,400 0 0
WATERS CORP COM 941848103 1,035,944 8,300 X 01 8,300 0 0
WEATHERFORD INTL INC COM 947074100 1,150,581 28,900 X 01 28,900 0 0
WEBMETHODS INC COM 94768C108 1,053,156 6,700 X 01 6,700 0 0
WINTRUST FINL CORP COM 97650W108 683,881 44,300 X 01 44,300 0 0
XILINX INC COM 983919101 4,070,331 49,300 X 01 49,300 0 0
ZALE CORP COM 988858106 1,635,200 44,800 X 01 44,800 0 0
292,744,881
226 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 VOTING AUTHORITY (SHARES)
CLASS NUMBER SOLE SHRD OTHR MGR A-SOLE B-SHRDC-NONE
GLOBAL CROSSING LTD COM G3921A100 515,883 19,606 X 01 19,606 0 0
TRANSOCEAN SEDCO FOREX INC COM G90078109 280,814 5,255 X 01 5,255 0 0
ADC TELECOMMUNICATIONS INC COM 000886101 633,424 7,552 X 01 7,552 0 0
AFLAC INC COM 001055102 307,414 6,692 X 01 6,692 0 0
AES CORP COM 00130H105 473,588 10,380 X 01 10,380 0 0
AT & T CORP COM 001957109 3,003,319 94,967 X 01 94,967 0 0
ABBOTT LABS COM 002824100 1,722,608 38,656 X 01 38,656 0 0
ADOBE SYS INC COM 00724F101 387,530 2,981 X 01 2,981 0 0
ADVANCED MICRO DEVICES INC COM 007903107 285,980 3,702 X 01 3,702 0 0
AETNA INC COM 008117103 230,818 3,596 X 01 3,596 0 0
AGILENT TECHNOLOGIES INC COM 00846U101 710,803 9,638 X 01 9,638 0 0
ALBERTSONS INC COM 013104104 354,179 10,652 X 01 10,652 0 0
ALCOA INC COM 013817101 634,404 21,876 X 01 21,876 0 0
ALLERGAN INC COM 018490102 246,297 3,306 X 01 3,306 0 0
ALLSTATE CORP COM 020002101 450,607 20,252 X 01 20,252 0 0
ALLTEL CORP COM 020039103 488,935 7,894 X 01 7,894 0 0
ALTERA CORP COM 021441100 509,688 5,000 X 01 5,000 0 0
AMERICA ONLINE INC COM 02364J104 3,026,584 57,376 X 01 57,376 0 0
AMERICAN ELEC PWR INC COM 025537101 239,637 8,089 X 01 8,089 0 0
AMERICAN EXPRESS CO COM 025816109 1,760,313 33,771 X 01 33,771 0 0
AMERICAN GEN CORP COM 026351106 379,054 6,214 X 01 6,214 0 0
AMERICAN HOME PRODUCTS CORP COM 026609107 1,928,939 32,833 X 01 32,833 0 0
AMERICAN INTL GROUP INC COM 026874107 4,574,393 38,931 X 01 38,931 0 0
AMGEN INC COM 031162100 1,804,442 25,686 X 01 25,686 0 0
ANALOG DEVICES INC COM 032654105 668,420 8,795 X 01 8,795 0 0
ANHEUSER BUSCH COS INC COM 035229103 873,844 11,700 X 01 11,700 0 0
AON CORP COM 037389103 200,446 6,453 X 01 6,453 0 0
APPLE COMPUTER COM 037833100 425,809 8,130 X 01 8,130 0 0
APPLIED MATERIALS INC COM 038222105 1,744,078 19,245 X 01 19,245 0 0
ARCHER DANIELS MIDLAND CO COM 039483102 149,807 15,267 X 01 15,267 0 0
ASSOCIATES FIRST CAP CORP COM 046008108 408,587 18,312 X 01 18,312 0 0
AUTOMATICDATA PROCESSING INC COM 053015103 848,859 15,848 X 01 15,848 0 0
AVON PRODS INC COM 054303102 271,139 6,093 X 01 6,093 0 0
BB & T CORP COM 054937107 208,572 8,736 X 01 8,736 0 0
BP AMOCO PLC COM 055622104 752,734 13,308 X 01 13,308 0 0
BMC SOFTWARE INC COM 055921100 224,014 6,140 X 01 6,140 0 0
BAKER HUGHES INC COM 057224107 264,896 8,278 X 01 8,278 0 0
BANK AMER CORP COM 060505104 1,845,904 42,928 X 01 42,928 0 0
BANK NEW YORK INC COM 064057102 861,041 18,517 X 01 18,517 0 0
BANK ONE CORP COM 06423A103 766,036 28,839 X 01 28,839 0 0
BAXTER INTL INC COM 071813109 514,406 7,316 X 01 7,316 0 0
BELL ATLANTIC CORP COM 077853109 1,983,974 39,045 X 01 39,045 0 0
BELLSOUTH CORP COM 079860102 2,017,484 47,331 X 01 47,331 0 0
BEST BUY CO INC COM 086516101 325,105 5,140 X 01 5,140 0 0
BESTFOODS COM 08658U101 485,720 7,014 X 01 7,014 0 0
BIOGEN INC COM 090597105 243,681 3,778 X 01 3,778 0 0
BOEING CO COM 097023105 913,352 21,844 X 01 21,844 0 0
BOSTON SCIENTIFIC CORP COM 101137107 228,764 10,428 X 01 10,428 0 0
BRISTOL MYERS SQUIBB CO COM 110122108 2,905,568 49,881 X 01 49,881 0 0
BURLINGTON NORTHN SANTA FE COM 12189T104 263,552 11,490 X 01 11,490 0 0
BURLINGTON RES INC COM 122014103 209,189 5,469 X 01 5,469 0 0
CIGNA CORP COM 125509109 396,347 4,239 X 01 4,239 0 0
CVS CORP COM 126650100 394,160 9,854 X 01 9,854 0 0
CAMPBELL SOUP CO COM 134429109 312,307 10,723 X 01 10,723 0 0
CAPITAL ONE FINL CORP COM 14040H105 221,251 4,958 X 01 4,958 0 0
CARDINAL HEALTH INC COM 14149Y108 523,402 7,073 X 01 7,073 0 0
CARNIVAL CORP COM 143658102 302,523 15,514 X 01 15,514 0 0
CATERPILLAR INC COM 149123101 302,843 8,940 X 01 8,940 0 0
CENDANT CORP COM 151313103 248,542 17,753 X 01 17,753 0 0
CHASE MANHATTAN CORP COM 16161A108 1,432,912 31,108 X 01 31,108 0 0
CHEVRON CORP COM 166751107 1,399,576 16,502 X 01 16,502 0 0
CHUBB CORP COM 171232101 272,076 4,424 X 01 4,424 0 0
CISCO SYS INC COM 17275R102 11,126,933 175,055 X 01 175,055 0 0
CITIGROUP INC COM 172967101 5,108,116 84,782 X 01 84,782 0 0
CLEAR CHANNEL COMMUNICATIONS COM 184502102 638,400 8,512 X 01 8,512 0 0
CLOROX CO COM 189054109 266,500 5,947 X 01 5,947 0 0
COASTAL CORP COM 190441105 327,021 5,372 X 01 5,372 0 0
COCA COLA CO COM 191216100 3,567,328 62,108 X 01 62,108 0 0
COCA COLA ENTERPRISES INC COM 191219104 174,527 10,699 X 01 10,699 0 0
COLGATE PALMOLIVE CO COM 194162103 877,109 14,649 X 01 14,649 0 0
COMCAST CORP CL A 200300200 943,610 23,299 X 01 23,299 0 0
COMPAQ COMPUTER CORP COM 204493100 1,088,860 42,596 X 01 42,596 0 0
COMPUTER ASSOC INTL INC COM 204912109 697,583 13,628 X 01 13,628 0 0
COMPUTER SCIENCES CORP COM 205363104 314,285 4,208 X 01 4,208 0 0
COMVERSE TECHNOLOGY INC COM 205862402 357,120 3,840 X 01 3,840 0 0
CONAGRA INC COM 205887102 236,051 12,383 X 01 12,383 0 0
CONEXANT SYS INC COM 207142100 262,575 5,400 X 01 5,400 0 0
CONOCO INC CL B 208251405 386,786 15,747 X 01 15,747 0 0
CORNING INC COM 219350105 1,871,583 6,935 X 01 6,935 0 0
COSTCO WHSL CORP COM 22160K105 368,940 11,180 X 01 11,180 0 0
DEERE & CO COM 244199105 217,708 5,884 X 01 5,884 0 0
DELL COMPUTER CORP COM 247025109 3,180,755 64,502 X 01 64,502 0 0
DELPHI AUTOMOTIVE SYS CORP COM 247126105 206,889 14,207 X 01 14,207 0 0
DISNEY WALT CO COM 254687106 2,020,152 52,049 X 01 52,049 0 0
DOMINION RES INC COM 25746U109 256,576 5,984 X 01 5,984 0 0
DOVER CORP COM 260003108 207,680 5,120 X 01 5,120 0 0
DOW CHEM CO COM 260543103 499,362 16,542 X 01 16,542 0 0
DU PONT EI DE NEMOURS & CO COM 263534109 1,149,094 26,265 X 01 26,265 0 0
DUKE ENERGY CO COM 264399106 518,368 9,195 X 01 9,195 0 0
E M C CORP COM 268648102 3,936,892 51,170 X 01 51,170 0 0
EASTMAN KODAK CO COM 277461109 472,192 7,936 X 01 7,936 0 0
EL PASO ENERGY CORP COM 283905107 292,432 5,741 X 01 5,741 0 0
ELECTRONIC DATA SYS CORP COM 285661104 488,318 11,838 X 01 11,838 0 0
EMERSON ELEC CO COM 291011104 654,405 10,839 X 01 10,839 0 0
ENRON CORP COM 293561106 1,160,613 17,994 X 01 17,994 0 0
EXXON MOBIL CORP COM 30231G102 6,817,019 86,841 X 01 86,841 0 0
FPL GROUP INC COM 302571104 223,097 4,507 X 01 4,507 0 0
FEDERAL HOME LN MTG CORP COM 313400301 707,940 17,480 X 01 17,480 0 0
FEDERAL NATL MTG ASSN COM 313586109 1,345,081 25,774 X 01 25,774 0 0
FEDEX CORP COM 31428X106 277,058 7,291 X 01 7,291 0 0
FIFTH THIRD BANCORP COM 316773100 490,947 7,762 X 01 7,762 0 0
FIRST DATA CORP COM 319963104 522,948 10,538 X 01 10,538 0 0
FIRST UN CORP COM 337358105 616,268 24,837 X 01 24,837 0 0
FIRSTAR CORP COM 33763V109 519,127 24,647 X 01 24,647 0 0
FLEETBOSTON FINL CORP COM 339030108 782,748 23,022 X 01 23,022 0 0
FORD MTR CO COM 345370100 1,306,039 30,373 X 01 30,373 0 0
GTE CORP COM 362320103 1,521,141 24,436 X 01 24,436 0 0
GANNETT INC COM 364730101 419,286 7,010 X 01 7,010 0 0
GAP INC COM 364760108 668,625 21,396 X 01 21,396 0 0
GATEWAY INC COM 367626108 451,673 7,959 X 01 7,959 0 0
GENERAL DYNAMICS CORP COM 369550108 264,072 5,054 X 01 5,054 0 0
GENERAL ELEC CO COM 369604103 13,329,818 251,506 X 01 251,506 0 0
GENERAL MLS INC COM 370334104 289,629 7,572 X 01 7,572 0 0
GENERAL MTRS CORP COM 370442105 934,690 16,098 X 01 16,098 0 0
GILLETTE CO COM 375766102 942,334 26,972 X 01 26,972 0 0
GUIDANT CORP COM 401698105 382,586 7,729 X 01 7,729 0 0
HCA HEALTHCARE CO COM 404119109 430,232 14,164 X 01 14,164 0 0
HALLIBURTON CO COM 406216101 524,159 11,108 X 01 11,108 0 0
HARLEY DAVIDSON INC COM 412822108 292,985 7,610 X 01 7,610 0 0
HARTFORD FINANCIAL SVCS GRP COM 416515104 311,740 5,573 X 01 5,573 0 0
HEINZ H J CO COM 423074103 390,163 8,918 X 01 8,918 0 0
HEWLETT PACKARD CO COM 428236103 3,155,716 25,271 X 01 25,271 0 0
HOME DEPOT INC COM 437076102 2,891,082 57,894 X 01 57,894 0 0
HONEYWELL INTL INC COM 438516106 670,550 19,905 X 01 19,905 0 0
HOUSEHOLD INTL INC COM 441815107 491,352 11,822 X 01 11,822 0 0
ILLINOIS TOOL WKS INC COM 452308109 430,692 7,556 X 01 7,556 0 0
INTEL CORP COM 458140100 11,498,462 86,010 X 01 86,010 0 0
INTERNATIONAL BUSINESS MACHS COM 459200101 4,966,139 45,327 X 01 45,327 0 0
INTERNATIONAL PAPER CO COM 460146103 361,387 12,122 X 01 12,122 0 0
INTERPUBLIC GROUP COS INC COM 460690100 303,451 7,057 X 01 7,057 0 0
JOHNSON & JOHNSON COM 478160104 3,564,403 34,988 X 01 34,988 0 0
KLA TENCOR CORP COM 482480100 270,383 4,617 X 01 4,617 0 0
KANSAS CITY SOUTHERN INDS INC COM 485170104 246,463 2,779 X 01 2,779 0 0
KELLOGG CO COM 487836108 303,272 10,194 X 01 10,194 0 0
KEYCORP COM 493267108 198,246 11,248 X 01 11,248 0 0
KIMBERLY CLARK CORP COM 494368103 801,586 13,971 X 01 13,971 0 0
KOHLS CORP COM 500255104 456,014 8,198 X 01 8,198 0 0
KROGER CO COM 501044101 462,871 20,980 X 01 20,980 0 0
LSI LOGIC CORP COM 502161102 404,801 7,479 X 01 7,479 0 0
LEHMAN BROTHERS HLDGS INC COM 524908100 285,390 3,018 X 01 3,018 0 0
LEXMARK INTL INC CL A 529771107 216,007 3,212 X 01 3,212 0 0
LILLY ELI & CO COM 532457108 2,738,672 27,421 X 01 27,421 0 0
LIMITED INC COM 532716107 233,637 10,804 X 01 10,804 0 0
LINEAR TECHNOLOGY CORP COM 535678106 511,500 8,000 X 01 8,000 0 0
LOCKHEED MARTIN CORP COM 539830109 247,033 9,956 X 01 9,956 0 0
LOWES COS INC COM 548661107 394,775 9,614 X 01 9,614 0 0
LUCENT TECHNOLOGIES INC COM 549463107 4,748,888 80,150 X 01 80,150 0 0
MBNA CORP COM 55262L100 546,867 20,161 X 01 20,161 0 0
MARSH & MCLENNAN COS INC COM 571748102 700,671 6,709 X 01 6,709 0 0
MARRIOTT INTL INC CL A 571903202 225,607 6,256 X 01 6,256 0 0
MASCO CORP COM 574599106 203,023 11,240 X 01 11,240 0 0
MATTEL INC COM 577081102 139,537 10,581 X 01 10,581 0 0
MAXIM INTEGRATED PRODS INC COM 57772K101 475,563 7,000 X 01 7,000 0 0
MAY DEPT STORES CO COM 577778103 200,664 8,361 X 01 8,361 0 0
MCDONALDS CORP COM 580135101 1,121,423 34,047 X 01 34,047 0 0
MCGRAW HILL COS INC COM 580645109 266,274 4,931 X 01 4,931 0 0
MEDTRONIC INC COM 585055106 1,496,019 30,033 X 01 30,033 0 0
MELLON FINL CORP COM 58551A108 466,036 12,790 X 01 12,790 0 0
MERCK & CO INC COM 589331107 4,503,634 58,775 X 01 58,775 0 0
MERRILL LYNCH & CO INC COM 590188108 1,071,915 9,321 X 01 9,321 0 0
MICROSOFT CORP COM 594918104 10,630,240 132,878 X 01 132,878 0 0
MICRON TECHNOLOGY INC COM 595112103 1,196,769 13,590 X 01 13,590 0 0
MINNESOTA MNG & MFG CO COM 604059105 827,723 10,033 X 01 10,033 0 0
MOLEX INC COM 608554101 237,256 4,930 X 01 4,930 0 0
MORGAN J P & CO INC COM 616880100 479,484 4,354 X 01 4,354 0 0
MORGAN STANLEY DEAN WITTER & CO COM 617446448 2,385,113 28,650 X 01 28,650 0 0
MOTOROLA INC COM 620076109 1,554,728 53,496 X 01 53,496 0 0
NABISCO GROUP HLDG CORP COM 62952P102 212,713 8,201 X 01 8,201 0 0
NATIONAL CITY CORP COM 635405103 264,537 15,504 X 01 15,504 0 0
NATIONAL SEMICONDUCTOR CORP COM 637640103 244,763 4,313 X 01 4,313 0 0
NETWORK APPLIANCE INC COM 64120L104 616,550 7,659 X 01 7,659 0 0
NEXTEL COMMUNICATIONS INC CL A 65332V103 1,121,445 18,328 X 01 18,328 0 0
NIKE INC CL B 654106103 276,299 6,940 X 01 6,940 0 0
NORTEL NETWORKS CORP COM 656568102 4,955,223 72,604 X 01 72,604 0 0
NORTHERN TRUST CORP COM 665859104 364,155 5,597 X 01 5,597 0 0
OMNICOM GROUP COM 681919106 397,397 4,462 X 01 4,462 0 0
ORACLE CORP COM 68389X105 5,964,066 70,948 X 01 70,948 0 0
PG & E CORP COM 69331C108 237,754 9,655 X 01 9,655 0 0
PE CORP COM 69332S102 341,496 5,184 X 01 5,184 0 0
PNC FINL SVCS GROUP INC COM 693475105 346,547 7,393 X 01 7,393 0 0
PAYCHEX INC COM 704326107 391,482 9,321 X 01 9,321 0 0
PEPSICO INC COM 713448108 1,626,590 36,604 X 01 36,604 0 0
PFIZER INC COM 717081103 7,522,524 156,719 X 01 156,719 0 0
PHARMACIA CORP COM 71713U102 1,626,709 31,472 X 01 31,472 0 0
PHILIP MORRIS COS INC COM 718154107 1,580,389 59,497 X 01 59,497 0 0
PHILLIPS PETE CO COM 718507106 322,829 6,369 X 01 6,369 0 0
PITNEY BOWES INC COM 724479100 266,800 6,670 X 01 6,670 0 0
PROCTER & GAMBLE CO COM 742718109 1,894,059 33,084 X 01 33,084 0 0
PROVIDIAN FINL CORP COM 74406A102 321,300 3,570 X 01 3,570 0 0
QUAKER OATS CO COM 747402105 252,721 3,364 X 01 3,364 0 0
QUALCOMM INC COM 747525103 1,113,360 18,556 X 01 18,556 0 0
RADIOSHACK CORP COM 750438103 230,290 4,861 X 01 4,861 0 0
RELIANT ENERGY INC COM 75952J108 219,797 7,435 X 01 7,435 0 0
ROYAL DUTCH PETE CO NY REG GLD 780257804 3,319,388 53,919 X 01 53,919 0 0
SBC COMMUNICATIONS INC COM 78387G103 3,709,985 85,780 X 01 85,780 0 0
SAFEWAY INC COM 786514208 577,329 12,794 X 01 12,794 0 0
SARA LEE CORP COM 803111103 441,271 22,849 X 01 22,849 0 0
SCHERING PLOUGH CORP COM 806605101 1,865,470 36,940 X 01 36,940 0 0
SCHLUMBERGER LTD COM 806857108 1,031,765 13,826 X 01 13,826 0 0
SCHWAB CHARLES CORP COM 808513105 1,039,920 30,927 X 01 30,927 0 0
SCIENTIFIC ATLANTA INC COM 808655104 244,956 3,288 X 01 3,288 0 0
SEAGATE TECHNOLOGY COM 811804103 298,540 5,428 X 01 5,428 0 0
SEAGRAM LTD COM 811850106 632,258 10,901 X 01 10,901 0 0
SEARS ROEBUCK & CO COM 812387108 310,068 9,504 X 01 9,504 0 0
SIEBEL SYS INC COM 826170102 817,813 5,000 X 01 5,000 0 0
SOLECTRON CORP COM 834182107 624,063 14,903 X 01 14,903 0 0
SOUTHERN CO COM 842587107 394,564 16,925 X 01 16,925 0 0
SOUTHWEST AIRLS CO COM 844741108 240,203 12,684 X 01 12,684 0 0
SPRINT CORP COM FON 852061100 1,117,563 21,913 X 01 21,913 0 0
SPRINT CORP PCS COM 852061506 1,289,484 21,672 X 01 21,672 0 0
STAPLES INC COM 855030102 181,625 11,813 X 01 11,813 0 0
STATE STREET CORPORATION COM 857477103 426,689 4,023 X 01 4,023 0 0
SUN MICROSYSTEMS INC COM 866810104 3,609,491 39,692 X 01 39,692 0 0
SUNTRUST BKS INC COM 867914103 367,602 8,046 X 01 8,046 0 0
SYSCO CORP COM 871829107 349,553 8,298 X 01 8,298 0 0
TXU CORP COM 873168108 205,025 6,950 X 01 6,950 0 0
TARGET CORP COM 87612E106 639,044 11,018 X 01 11,018 0 0
TELLABS INC COM 879664100 692,245 10,115 X 01 10,115 0 0
TENET HEALTHCARE CORP COM 88033G100 211,788 7,844 X 01 7,844 0 0
TERADYNE INC COM 880770102 316,050 4,300 X 01 4,300 0 0
TEXACO INC COM 881694103 740,548 13,907 X 01 13,907 0 0
TEXAS INSTRS INC COM 882508104 2,808,357 40,886 X 01 40,886 0 0
TEXTRON INC COM 883203101 203,129 3,740 X 01 3,740 0 0
3COM CORP COM 885535104 496,036 8,608 X 01 8,608 0 0
TIME WARNER INC COM 887315109 2,458,600 32,350 X 01 32,350 0 0
TRIBUNE CO COM 896047107 341,075 9,745 X 01 9,745 0 0
TYCO INTL LTD COM 902124106 2,014,527 42,523 X 01 42,523 0 0
US BANCORP COM 902973106 364,672 18,944 X 01 18,944 0 0
UNILEVER N V NY SHS 904784709 617,996 14,372 X 01 14,372 0 0
UNICOM CORP COM 904911104 211,621 5,470 X 01 5,470 0 0
UNION PAC CORP COM 907818108 232,422 6,250 X 01 6,250 0 0
U S WEST INC COM 91273H101 1,089,540 12,706 X 01 12,706 0 0
UNITED TECHNOLOGIES CORP COM 913017109 703,203 11,944 X 01 11,944 0 0
UNITED HEALTH GROUP INC COM 91324P102 365,981 4,268 X 01 4,268 0 0
UNOCAL CORP COM 915289102 201,930 6,096 X 01 6,096 0 0
VERITAS SOFTWARE CORP COM 923436109 1,130,156 10,000 X 01 10,000 0 0
VIACOM INC CL B 925524308 2,613,354 38,326 X 01 38,326 0 0
WACHOVIA CORP COM 929771103 276,567 5,098 X 01 5,098 0 0
WAL MART STORES INC COM 931142103 6,626,356 114,991 X 01 114,991 0 0
WALGREEN CO COM 931422109 814,408 25,302 X 01 25,302 0 0
WASHINGTON MUT INC COM 939322103 419,178 14,517 X 01 14,517 0 0
WASTE MGMT INC COM 94106L109 296,039 15,581 X 01 15,581 0 0
WELLS FARGO & CO COM 949746101 1,608,590 41,512 X 01 41,512 0 0
WEYERHAEUSER CO COM 962166104 253,915 5,905 X 01 5,905 0 0
WILLIAMS COS INC COM 969457100 455,728 10,932 X 01 10,932 0 0
WORLDCOM INC COM 98157D106 3,274,145 71,371 X 01 71,371 0 0
WRIGLEY WM JR CO COM 982526105 233,426 2,911 X 01 2,911 0 0
XILINX INC COM 983919101 667,022 8,079 X 01 8,079 0 0
XEROX CORP COM 984121103 346,587 16,703 X 01 16,703 0 0
YAHOO INC COM 984332106 1,639,981 13,239 X 01 13,239 0 0
290,748,680
250 ITEMS
</TABLE>
