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<TABLE>
<C> <C>
<PAGE> PAGE 1
SECURITIES AND EXCHANGE COMMISSION
FORM 13F-E
Report for the Calendar Year or Quarter Ended: 09/30/97
Institutional Investment Manager:
U S WEST INVESTMENT MANAGEMENT CO.
9785 MAROON CIRCLE
SUITE 360
ENGLEWOOD CA 80112-0000
I represent that I am authorized to submit this form and that
all information in this form and the attachments to it are true,
correct and complete and I understand that all required items,
statements and schedules are integral parts of this form and that
the submission of any amendment represents that all unamended
items, statements and schedules remain true, correct and complete
as previously submitted.
I am signing this report as required by the Securities Exchange
Act of 1934
Name, Title and Telephone Number of Person Submitting Report:
KAREN FRAME MANAGER 303-649-4506
Signature, Place and Date of Signing:
/s/ KAREN FRAME ENGLEWOOD CO 10/29/97
<PAGE> PAGE 2
VALUE SHARES/ SH/ PUT/ INVSTMT -----VOTING AUTHORITY-----
NAME OF ISSUER -TITLE OF CLASS- --CUSIP-- (x$1000) PRN AMT PRN CALL DSCRETN -MANAGERS- SOLE SHARED NONE
A D C TELECOMMUNICATIONS COM 000886101 3201 98500 SH SOLE 98500
AFLAC INC COM 001055102 5499 101362 SH SOLE 101362
AGCO CORP COM 001084102 440 13900 SH SOLE 13900
AES CORP COM 00130H105 3818 87264 SH SOLE 87264
AMR CORP COM 001765106 6232 56302 SH SOLE 56302
AT&T CORP COM 001957109 46240 1043506 SH SOLE 1043506
ABBOTT LABS COM 002824100 32168 503111 SH SOLE 503111
ACCUSTAFF INC COM 004401105 1688 53600 SH SOLE 53600
ADAPTEC INC COM 00651F108 3869 82760 SH SOLE 82760
ADOBE SYS INC COM 00724F101 2393 47500 SH SOLE 47500
ADVANCED FIBRE COMMUNICATIONS COM 00754A105 828 20200 SH SOLE 20200
AEROQUIP-VICKERS INC COM 007869100 571 11650 SH SOLE 11650
ADVANCED MICRO DEVICES INC COM 007903107 3022 92800 SH SOLE 92800
ADVANTA CORP CL A 007942105 868 29800 SH SOLE 29800
AETNA INC COM 008117103 8090 99337 SH SOLE 99337
AHMANSON H F & CO COM 008677106 4556 80200 SH SOLE 80200
AIR PRODS & CHEMS INC COM 009158106 5700 68725 SH SOLE 68725
AIRGAS INC COM 009363102 867 51174 SH SOLE 51174
AIRTOUCH COMMUNICATIONS INC COM 00949T100 11767 332043 SH SOLE 332043
ALBERTSONS INC COM 013104104 5219 149639 SH SOLE 149639
ALEXANDER & BALDWIN INC COM 014482103 1074 41500 SH SOLE 41500
ALLEGHENY PWR SYS INC COM 017411109 2535 83800 SH SOLE 83800
ALLEGHENY TELEDYNE INC COM 017415100 2738 95650 SH SOLE 95650
ALLEGIANCE CORP COM 017475104 1398 45104 SH SOLE 45104
ALLERGAN INC COM 018490102 1797 49656 SH SOLE 49656
ALLIEDSIGNAL INC COM 019512102 14113 332082 SH SOLE 332082
ALLMERICA FINL CORP COM 019754100 979 22284 SH SOLE 22284
ALLSTATE CORP COM 020002101 21082 262298 SH SOLE 262298
ALLTEL CORP COM 020039103 4822 139766 SH SOLE 139766
ALTERA CORP COM 021441100 3260 63600 SH SOLE 63600
ALUMAX INC COM 022197107 1367 33450 SH SOLE 33450
ALUMINUM CO AMER COM 022249106 8823 107600 SH SOLE 107600
ALZA CORP DEL COM 022615108 1815 62600 SH SOLE 62600
AMBAC FINL GROUP INC COM 023139108 2205 54200 SH SOLE 54200
AMERADA HESS CORP COM 023551104 3814 61830 SH SOLE 61830
AMERICA ONLINE INC DEL COM 02364J104 4753 63000 SH SOLE 63000
AMERICAN BANKERS INS GROUP INC COM 024456105 420 11500 SH SOLE 11500
AMERICAN ELEC PWR INC COM 025537101 5264 115700 SH SOLE 115700
AMERICAN EXPRESS CO COM 025816109 25383 310018 SH SOLE 310018
AMERICAN FINL GROUP INC COM 02608W101 1322 29700 SH SOLE 29700
AMERICAN GENERAL CORP COM 026351106 7964 153522 SH SOLE 153522
AMERICAN GREETINGS CORP CL A 026375105 2096 56851 SH SOLE 56851
AMERICAN HOME PRODS CORP COM 026609107 30508 417914 SH SOLE 417914
AMERICAN INTL GROUP INC COM 026874107 39625 384006 SH SOLE 384006
AMERICAN NATL INS CO COM 028591105 1162 11500 SH SOLE 11500
AMERICAN PWR CONVERSION CORP COM 029066107 1707 60700 SH SOLE 60700
AMERICAN STD COS INC DEL COM 029712106 2484 61900 SH SOLE 61900
AMERICAN STORES CO NEW COM 030096101 4473 183526 SH SOLE 183526
AMERITECH CORP NEW COM 030954101 23779 357580 SH SOLE 357580
AMGEN INC COM 031162100 8293 173000 SH SOLE 173000
<PAGE> PAGE 3
VALUE SHARES/ SH/ PUT/ INVSTMT -----VOTING AUTHORITY-----
NAME OF ISSUER -TITLE OF CLASS- --CUSIP-- (x$1000) PRN AMT PRN CALL DSCRETN -MANAGERS- SOLE SHARED NONE
AMP INC COM 031897101 7975 148891 SH SOLE 148891
AMOCO CORP COM 031905102 30808 319667 SH SOLE 319667
AMSOUTH BANCORPORATION COM 032165102 3475 71750 SH SOLE 71750
ANADARKO PETE CORP COM 032511107 3115 43378 SH SOLE 43378
ANALOG DEVICES INC COM 032654105 4109 122649 SH SOLE 122649
ANDREW CORP COM 034425108 587 22425 SH SOLE 22425
ANHEUSER BUSCH COS INC COM 035229103 12942 286812 SH SOLE 286812
AON CORP COM 037389103 5270 99675 SH SOLE 99675
APACHE CORP COM 037411105 2615 60999 SH SOLE 60999
APOLLO GROUP INC CL A 037604105 1653 39000 SH SOLE 39000
APPLE COMPUTER INC COM 037833100 1824 84105 SH SOLE 84105
APPLIED MATLS INC COM 038222105 11366 119326 SH SOLE 119326
ARCHER DANIELS MIDLAND CO COM 039483102 9039 377617 SH SOLE 377617
ARMSTRONG WORLD INDS INC COM 042476101 2015 30049 SH SOLE 30049
ARROW ELECTRS INC COM 042735100 2125 36643 SH SOLE 36643
ASCEND COMMUNICATIONS INC COM 043491109 3749 115800 SH SOLE 115800
ASHLAND INC COM 044204105 2484 45691 SH SOLE 45691
ASSOCIATES FIRST CAP CORP CL A 046008108 766 12300 SH SOLE 12300
ATLANTIC RICHFIELD CO COM 048825103 18234 213416 SH SOLE 213416
ATMEL CORP COM 049513104 2631 72200 SH SOLE 72200
AUTODESK INC COM 052769106 1616 35605 SH SOLE 35605
AUTOLIV INC COM 052800109 1876 44140 SH SOLE 44140
AUTOMATIC DATA PROCESSING INC COM 053015103 10515 210291 SH SOLE 210291
AUTOZONE INC COM 053332102 3318 110600 SH SOLE 110600
AVERY DENNISON CORP COM 053611109 3312 82790 SH SOLE 82790
AVNET INC COM 053807103 2002 31500 SH SOLE 31500
AVON PRODS INC COM 054303102 5235 84442 SH SOLE 84442
BB&T CORP COM 054937107 615 11500 SH SOLE 11500
BHC COMMUNICATIONS INC CL A 055448104 1075 8300 SH SOLE 8300
BJ SVCS CO COM 055482103 1975 26600 SH SOLE 26600
BMC SOFTWARE INC COM 055921100 4539 70100 SH SOLE 70100
BAKER HUGHES INC COM 057224107 4670 106735 SH SOLE 106735
BALTIMORE GAS & ELEC CO COM 059165100 2761 99500 SH SOLE 99500
BANC ONE CORP COM 059438101 21437 384091 SH SOLE 384091
BANK NEW YORK INC COM 064057102 13006 270968 SH SOLE 270968
BANKBOSTON CORP COM 06605R106 9386 106131 SH SOLE 106131
BANKAMERICA CORP COM 066050105 33816 461264 SH SOLE 461264
BANKERS TRUST N Y CORP COM 066365107 8020 65469 SH SOLE 65469
BARD C R INC COM 067383109 1507 44400 SH SOLE 44400
BARNES & NOBLE INC COM 067774109 1547 54760 SH SOLE 54760
BARNETT BKS INC COM 068055102 9580 135408 SH SOLE 135408
BATTLE MTN GOLD CO COM 071593107 1205 167700 SH SOLE 167700
BAUSCH & LOMB INC COM 071707103 1523 37600 SH SOLE 37600
BAXTER INTL INC COM 071813109 8727 167021 SH SOLE 167021
BAY NETWORKS INC COM 072510100 5048 130683 SH SOLE 130683
BEACON PPTYS CORP COM 073678104 1026 22388 SH SOLE 22388
BEAR STEARNS COS INC COM 073902108 4297 97658 SH SOLE 97658
BECKMAN INSTRS INC NEW COM 075816108 1251 29400 SH SOLE 29400
BECTON DICKINSON & CO COM 075887109 4256 88900 SH SOLE 88900
BELL ATLANTIC CORP COM 077853109 40836 507674 SH SOLE 507674
<PAGE> PAGE 4
VALUE SHARES/ SH/ PUT/ INVSTMT -----VOTING AUTHORITY-----
NAME OF ISSUER -TITLE OF CLASS- --CUSIP-- (x$1000) PRN AMT PRN CALL DSCRETN -MANAGERS- SOLE SHARED NONE
BELLSOUTH CORP COM 079860102 29663 641354 SH SOLE 641354
BELO A H CORP DEL COM SER A 080555105 1552 32000 SH SOLE 32000
BEMIS INC COM 081437105 242 5400 SH SOLE 5400
BENEFICIAL CORP COM 081721102 3276 42993 SH SOLE 42993
BERGEN BRUNSWIG CORP CL A 083739102 1606 39787 SH SOLE 39787
BETHLEHEM STL CORP COM 087509105 898 87100 SH SOLE 87100
BETZDEARBORN INC COM 087779104 1518 22200 SH SOLE 22200
BEVERLY ENTERPRISES INC COM 087851101 1452 83540 SH SOLE 83540
BIOGEN INC COM 090597105 1658 51100 SH SOLE 51100
BIOMET INC COM 090613100 2023 84300 SH SOLE 84300
BLACK & DECKER CORP COM 091797100 2492 66900 SH SOLE 66900
BLOCK H & R INC COM 093671105 2933 75933 SH SOLE 75933
BLYTH INDS INC COM 09643P108 977 34900 SH SOLE 34900
BOEING CO COM 097023105 32672 600181 SH SOLE 600181
BOISE CASCADE CORP COM 097383103 219 5200 SH SOLE 5200
BOISE CASCADE OFFICE PRODS COM 097403109 311 16500 SH SOLE 16500
BORDERS GROUP INC COM 099709107 1873 68100 SH SOLE 68100
BOSTON CHICKEN INC COM 100578103 681 46200 SH SOLE 46200
BOSTON EDISON CO COM 100599109 1442 47000 SH SOLE 47000
BOSTON SCIENTIFIC CORP COM 101137107 4106 74400 SH SOLE 74400
BOWATER INC COM 102183100 214 4200 SH SOLE 4200
BRISTOL MYERS SQUIBB CO COM 110122108 53555 647186 SH SOLE 647186
BROWN FORMAN CORP CL B 115637209 1704 34300 SH SOLE 34300
BROWNING FERRIS INDS COM 115885105 5458 143394 SH SOLE 143394
BRUNSWICK CORP COM 117043109 2510 71200 SH SOLE 71200
BURLINGTON NORTHN SANTA FE CP COM 12189T104 10063 104140 SH SOLE 104140
BURLINGTON RES INC COM 122014103 4558 88834 SH SOLE 88834
CIGNA CORP COM 125509109 9802 52630 SH SOLE 52630
CMS ENERGY CORP COM 125896100 2708 73176 SH SOLE 73176
CNA FINL CORP COM 126117100 927 7302 SH SOLE 7302
CNF TRANSN INC COM 12612W104 314 7200 SH SOLE 7200
CPC INTL INC COM 126149103 8753 94501 SH SOLE 94501
CSX CORP COM 126408103 8414 143834 SH SOLE 143834
CUC INTL INC COM 126545102 8243 265888 SH SOLE 265888
CVS CORP COM 126650100 3033 53329 SH SOLE 53329
CABLETRON SYS INC COM 126920107 2541 79400 SH SOLE 79400
CABOT CORP COM 127055101 1496 55540 SH SOLE 55540
CADENCE DESIGN SYSTEM INC COM 127387108 3726 69650 SH SOLE 69650
CALIBER SYS INC COM 129894101 1269 23400 SH SOLE 23400
CALLAWAY GOLF CO COM 131193104 1908 54700 SH SOLE 54700
CAMBRIDGE TECH PARTNERS MASS COM 132524109 1332 37200 SH SOLE 37200
CAMCO INTL INC COM 132632100 1311 18800 SH SOLE 18800
CAMPBELL SOUP CO COM 134429109 8350 170400 SH SOLE 170400
CAPITAL ONE FINL CORP COM 14040H105 770 16824 SH SOLE 16824
CARDINAL HEALTH INC COM 14149Y108 4988 70258 SH SOLE 70258
CAROLINA PWR & LT CO COM 144141108 3314 92220 SH SOLE 92220
CASE CORP COM 14743R103 859 12900 SH SOLE 12900
CATELLUS DEV CORP COM 149111106 788 38000 SH SOLE 38000
CATERPILLAR INC DEL COM 149123101 14150 262338 SH SOLE 262338
CENTERIOR ENERGY CORP COM 151883105 2063 180400 SH SOLE 180400
<PAGE> PAGE 5
VALUE SHARES/ SH/ PUT/ INVSTMT -----VOTING AUTHORITY-----
NAME OF ISSUER -TITLE OF CLASS- --CUSIP-- (x$1000) PRN AMT PRN CALL DSCRETN -MANAGERS- SOLE SHARED NONE
CENTEX CORP COM 152312104 998 17100 SH SOLE 17100
CENTOCOR INC COM 152342101 1470 30900 SH SOLE 30900
CENTRAL & SOUTH WEST CORP COM 152357109 2828 127481 SH SOLE 127481
CENTRAL FID BKS INC COM 153469101 274 6200 SH SOLE 6200
CENTURY TEL ENTERPRISES INC COM 156686107 1967 44700 SH SOLE 44700
CERIDIAN CORP COM 15677T106 810 21900 SH SOLE 21900
CHAMPION INTL CORP COM 158525105 3505 57524 SH SOLE 57524
CHANCELLOR MEDIA CORP COM 158915108 602 11435 SH SOLE 11435
CHARTER ONE FINL INC COM 160903100 2621 44325 SH SOLE 44325
CHASE MANHATTAN CORP NEW COM 16161A108 32943 279174 SH SOLE 279174
CHEVRON CORPORATION COM 166751107 35449 426132 SH SOLE 426132
CHIRON CORP COM 170040109 2657 117440 SH SOLE 117440
CHOICEPOINT INC COM 170388102 453 12119 SH SOLE 12119
CHRYSLER CORP COM 171196108 14160 384662 SH SOLE 384662
CHUBB CORP COM 171232101 8788 123664 SH SOLE 123664
CIENA CORP COM 171779101 2273 45900 SH SOLE 45900
CINCINNATI BELL INC COM 171870108 3192 112254 SH SOLE 112254
CINCINNATI FINL CORP COM 172062101 3362 40995 SH SOLE 40995
CINERGY CORP COM 172474108 3712 111000 SH SOLE 111000
CIRCUIT CITY STORE INC CIRCT CITY GRP 172737108 2895 71809 SH SOLE 71809
CISCO SYS INC COM 17275R102 31487 430962 SH SOLE 430962
CINTAS CORP COM 172908105 266 3600 SH SOLE 3600
CIRCUS CIRCUS ENTERPRISES INC COM 172909103 1756 69708 SH SOLE 69708
CITICORP COM 173034109 40754 304273 SH SOLE 304273
CITIZENS UTILS CO DEL CL B 177342201 600 64900 SH SOLE 64900
CITY INVESTING CO LIQ TR UNIT BEN INT 177900107 34 35000 SH SOLE 35000
CITY NATL CORP COM 178566105 470 14700 SH SOLE 14700
CLEAR CHANNEL COMMUNICATIONS COM 184502102 967 14900 SH SOLE 14900
CLOROX CO DEL COM 189054109 3758 50700 SH SOLE 50700
COASTAL CORP COM 190441105 4000 65300 SH SOLE 65300
COCA COLA CO COM 191216100 89092 1462020 SH SOLE 1462020
COCA COLA ENTERPRISES INC COM 191219104 4332 160800 SH SOLE 160800
COGNIZANT CORP COM 192441103 4993 122529 SH SOLE 122529
COLGATE PALMOLIVE CO COM 194162103 13538 194274 SH SOLE 194274
COLTEC INDS INC COM 196879100 653 30200 SH SOLE 30200
COLUMBIA GAS SYS INC COM 197648108 2669 38122 SH SOLE 38122
COLUMBIA/HCA HEALTHCARE CORP COM 197677107 12722 442504 SH SOLE 442504
COMAIR HOLDINGS INC COM 199789108 863 32100 SH SOLE 32100
COMCAST CORP CL A 200300101 1010 39400 SH SOLE 39400
COMCAST CORP CL A SPL 200300200 4833 187695 SH SOLE 187695
COMDISCO INC COM 200336105 1970 60500 SH SOLE 60500
COMERICA INC COM 200340107 6607 83700 SH SOLE 83700
COMMERCE BANCSHARES INC COM 200525103 224 3805 SH SOLE 3805
COMMSCOPE INC COM 203372107 388 28632 SH SOLE 28632
COMPASS BANCSHARES INC COM 20449H109 260 6700 SH SOLE 6700
COMPAQ COMPUTER CORP COM 204493100 34701 464227 SH SOLE 464227
COMPUTER ASSOC INTL INC COM 204912109 13161 183273 SH SOLE 183273
COMPUSA INC COM 204932107 2510 71700 SH SOLE 71700
COMPUTER SCIENCES CORP COM 205363104 3798 53680 SH SOLE 53680
COMPUWARE CORP COM 205638109 3243 53600 SH SOLE 53600
<PAGE> PAGE 6
VALUE SHARES/ SH/ PUT/ INVSTMT -----VOTING AUTHORITY-----
NAME OF ISSUER -TITLE OF CLASS- --CUSIP-- (x$1000) PRN AMT PRN CALL DSCRETN -MANAGERS- SOLE SHARED NONE
CONAGRA INC COM 205887102 10236 155085 SH SOLE 155085
CONCORD EFS INC COM 206197105 1305 48350 SH SOLE 48350
CONSECO INC COM 208464107 5833 119500 SH SOLE 119500
CONSOLIDATED EDISON CO N Y INC COM 209111103 5086 149600 SH SOLE 149600
CONSOLIDATED NAT GAS CO COM 209615103 3726 64028 SH SOLE 64028
CONSOLIDATED STORES CORP COM 210149100 1121 26775 SH SOLE 26775
CONTINENTAL AIRLS INC CL B 210795308 1280 32500 SH SOLE 32500
COOPER CAMERON CORP COM 216640102 1300 18100 SH SOLE 18100
COOPER INDS INC COM 216669101 3910 72329 SH SOLE 72329
COOPER TIRE & RUBR CO COM 216831107 1541 58000 SH SOLE 58000
CORESTATES FINL CORP COM 218695104 10008 151212 SH SOLE 151212
CORNING INC COM 219350105 7437 157393 SH SOLE 157393
CORPORATE EXPRESS INC COM 219888104 1193 56450 SH SOLE 56450
CORRECTIONS CORP AMER COM 220256101 2862 65800 SH SOLE 65800
COSTCO COMPANIES INC COM 22160Q102 4942 131357 SH SOLE 131357
COUNTRYWIDE CR INDS INC DEL COM 222372104 3157 86634 SH SOLE 86634
COX COMMUNICATIONS INC NEW CL A 224044107 1397 50670 SH SOLE 50670
CRACKER BARREL OLD CTRY STR COM 224100107 1661 51300 SH SOLE 51300
CRESCENT REAL ESTATE EQUITIES COM 225756105 2058 51300 SH SOLE 51300
CRESTAR FINL CORP COM 226091106 3293 70256 SH SOLE 70256
CROMPTON & KNOWLES CORP COM 227111101 948 35700 SH SOLE 35700
CROWN CORK & SEAL INC COM 228255105 3388 73455 SH SOLE 73455
CUMMINS ENGINE INC COM 231021106 2022 25900 SH SOLE 25900
CYPRUS AMAX MINERALS CO COM 232809103 1612 67150 SH SOLE 67150
CYTEC INDS INC COM 232820100 1972 41200 SH SOLE 41200
DQE INC COM 23329J104 1974 58500 SH SOLE 58500
DPL INC COM 233293109 1997 81500 SH SOLE 81500
DSC COMMUNICATIONS CORP COM 233311109 2295 85200 SH SOLE 85200
DST SYS INC DEL COM 233326107 1069 28900 SH SOLE 28900
DTE ENERGY CO COM 233331107 2971 97600 SH SOLE 97600
DANA CORP COM 235811106 3787 76700 SH SOLE 76700
DARDEN RESTAURANTS INC COM 237194105 1512 130778 SH SOLE 130778
DAYTON HUDSON CORP COM 239753106 9010 150317 SH SOLE 150317
DEERE & CO COM 244199105 9523 177176 SH SOLE 177176
DELL COMPUTER CORP COM 247025109 18679 192816 SH SOLE 192816
DELTA AIR LINES INC DEL COM 247361108 4281 45451 SH SOLE 45451
DELUXE CORP COM 248019101 2098 62500 SH SOLE 62500
DENTSPLY INTL INC NEW COM 249030107 1069 19088 SH SOLE 19088
DIAL CORP NEW COM 25247D101 1154 66200 SH SOLE 66200
DIAMOND OFFSHORE DRILLING INC COM 25271C102 646 11700 SH SOLE 11700
DIEBOLD INC COM 253651103 2716 57337 SH SOLE 57337
DIGITAL EQUIP CORP COM 253849103 4557 105219 SH SOLE 105219
DILLARDS INC CL A 254067101 3575 81607 SH SOLE 81607
DIME BANCORP INC NEW COM 25429Q102 1778 84910 SH SOLE 84910
DISNEY WALT CO COM 254687106 35777 443741 SH SOLE 443741
DOLE FOOD INC COM 256605106 1648 36467 SH SOLE 36467
DOLLAR GEN CORP COM 256669102 671 19688 SH SOLE 19688
DOLLAR TREE STORES INC COM 256747106 1304 31000 SH SOLE 31000
DOMINION RES INC VA COM 257470104 4283 113085 SH SOLE 113085
DONNELLEY R R & SONS CO COM 257867101 3050 85460 SH SOLE 85460
<PAGE> PAGE 7
VALUE SHARES/ SH/ PUT/ INVSTMT -----VOTING AUTHORITY-----
NAME OF ISSUER -TITLE OF CLASS- --CUSIP-- (x$1000) PRN AMT PRN CALL DSCRETN -MANAGERS- SOLE SHARED NONE
DOUBLETREE CORP COM 258624105 1254 26000 SH SOLE 26000
DOVER CORP COM 260003108 5746 84653 SH SOLE 84653
DOW CHEM CO COM 260543103 13567 149600 SH SOLE 149600
DOW JONES & CO INC COM 260561105 1865 39900 SH SOLE 39900
DRESSER INDS INC COM 261597108 5280 122789 SH SOLE 122789
DU PONT E I DE NEMOURS & CO COM 263534109 44644 725174 SH SOLE 725174
DUKE ENERGY CORP COM 264399106 10579 213990 SH SOLE 213990
DUKE REALTY INVT INC COM NEW 264411505 874 38300 SH SOLE 38300
DUN & BRADSTREET CORP COM 264830100 3443 121329 SH SOLE 121329
DURA PHARMACEUTICALS INC COM 26632S109 1344 30800 SH SOLE 30800
E M C CORP MASS COM 268648102 9369 160500 SH SOLE 160500
ENSCO INTL INC COM 26874Q100 4385 111200 SH SOLE 111200
EVI INC COM 268939105 1237 19322 SH SOLE 19322
EASTMAN CHEM CO COM 277432100 3414 55064 SH SOLE 55064
EASTMAN KODAK CO COM 277461109 13628 209865 SH SOLE 209865
EATON CORP COM 278058102 4545 49200 SH SOLE 49200
ECHLIN INC COM 278749106 1729 49300 SH SOLE 49300
ECOLAB INC COM 278865100 2270 46742 SH SOLE 46742
EDISON INTL COM 281020107 7093 280900 SH SOLE 280900
EDWARDS AG INC COM 281760108 2504 48745 SH SOLE 48745
EL PASO NAT GAS CO COM NEW 283695872 2124 35078 SH SOLE 35078
ELECTRONIC ARTS INC COM 285512109 1568 40600 SH SOLE 40600
ELECTRONIC DATA SYS NEW COM 285661104 7942 223724 SH SOLE 223724
ELECTRONICS FOR IMAGING INC COM 286082102 2168 42500 SH SOLE 42500
EMERSON ELEC CO COM 291011104 16699 289790 SH SOLE 289790
ENGELHARD CORP COM 292845104 1547 71750 SH SOLE 71750
ENOVA CORP COM 293552105 1894 75000 SH SOLE 75000
ENSERCH EXPLORATION INC COM 29356V100 731 81175 SH SOLE 81175
ENRON CORP COM 293561106 7727 200690 SH SOLE 200690
ENTERGY CORP NEW COM 29364G103 3807 146070 SH SOLE 146070
EQUIFAX INC COM 294429105 3797 120790 SH SOLE 120790
EQUITABLE COS INC COM 29444G107 2404 58556 SH SOLE 58556
EQUITY RESIDENTIAL PPTYS TR SH BEN INT 29476L107 303 5549 SH SOLE 5549
ETHYL CORP COM 297659104 144 15500 SH SOLE 15500
EVEREST REINS HLDGS INC COM 299808105 213 5200 SH SOLE 5200
EXTENDED STAY AMER INC COM 30224P101 298 19868 SH SOLE 19868
EXXON CORP COM 302290101 102580 1601246 SH SOLE 1601246
F M C CORP COM NEW 302491303 1942 21887 SH SOLE 21887
FPL GROUP INC COM 302571104 4832 94288 SH SOLE 94288
FALCON DRILLING INC COM 305914103 1292 36600 SH SOLE 36600
FAMILY DLR STORES INC COM 307000109 632 27700 SH SOLE 27700
FEDERAL EXPRESS CORP COM 313309106 6256 78200 SH SOLE 78200
FEDERAL HOME LN MTG CORP COM 313400301 16680 473200 SH SOLE 473200
FEDERAL NATL MTG ASSN COM 313586109 32706 695866 SH SOLE 695866
FEDERATED DEPT STORES INC DEL COM 31410H101 6297 146023 SH SOLE 146023
FIFTH THIRD BANCORP COM 316773100 6243 95500 SH SOLE 95500
FINOVA GROUP INC COM 317928109 265 2800 SH SOLE 2800
FIRST AMER CORP TENN COM 318900107 298 6100 SH SOLE 6100
FIRST AMER BK CORP COM 318906104 3868 72050 SH SOLE 72050
FIRST CHICAGO NBD CORP COM 31945A100 16171 214892 SH SOLE 214892
<PAGE> PAGE 8
VALUE SHARES/ SH/ PUT/ INVSTMT -----VOTING AUTHORITY-----
NAME OF ISSUER -TITLE OF CLASS- --CUSIP-- (x$1000) PRN AMT PRN CALL DSCRETN -MANAGERS- SOLE SHARED NONE
FIRST COMM CORP COM 319779104 230 4100 SH SOLE 4100
FIRST DATA CORP COM 319963104 10500 279540 SH SOLE 279540
FIRST EMPIRE ST CORP COM 320076102 457 1100 SH SOLE 1100
FIRST SEC CORP DEL COM 336294103 2799 94075 SH SOLE 94075
FIRST TENN NATL CORP COM 337162101 376 6600 SH SOLE 6600
FIRST UN CORP COM 337358105 16793 335448 SH SOLE 335448
FIRST VA BANKS INC COM 337477103 266 5500 SH SOLE 5500
FIRSTAR CORP COM 33761C103 3748 103400 SH SOLE 103400
FISERV INC COM 337738108 241 5500 SH SOLE 5500
FLEET FINL GROUP INC NEW COM 338915101 11764 179433 SH SOLE 179433
FLORIDA PROGRESS CORP COM 341109106 2150 65155 SH SOLE 65155
FLOWERS INDS INC COM 343496105 770 37800 SH SOLE 37800
FLUOR CORP COM 343861100 3080 57440 SH SOLE 57440
FOOD LION INC CL B 344775101 2100 262500 SH SOLE 262500
FORD MTR CO DEL COM 345370100 34900 771271 SH SOLE 771271
FORE SYSTEMS INC COM 345449102 898 45600 SH SOLE 45600
FOREST LABS INC CL A 345838106 1394 33100 SH SOLE 33100
FORT JAMES CORP COM 347471104 3415 74537 SH SOLE 74537
FORTUNE BRANDS INC COM 349631101 3978 118072 SH SOLE 118072
FOSTER WHEELER CORP COM 350244109 1336 30400 SH SOLE 30400
FOUNDATION HEALTH SYS INC COM 350404109 2883 90090 SH SOLE 90090
FRANKLIN RES INC COM 354613101 5322 57150 SH SOLE 57150
FREEPORT-MCMORAN COPPER & GOLD CL A 35671D105 735 26652 SH SOLE 26652
FREEPORT-MCMORAN COPPER & GOLD CL B 35671D857 3641 126368 SH SOLE 126368
FRONTIER CORPORATION COM 35906P105 2791 121361 SH SOLE 121361
FRUIT OF THE LOOM INC CL A 359416104 1572 55900 SH SOLE 55900
GPU INC COM 36225X100 2744 76500 SH SOLE 76500
GTE CORP COM 362320103 28166 620742 SH SOLE 620742
GANNETT INC COM 364730101 10879 100791 SH SOLE 100791
GAP INC DEL COM 364760108 7069 141200 SH SOLE 141200
GATEWAY 2000 INC COM 367833100 418 13300 SH SOLE 13300
GAYLORD ENTMT CO CL A 367901105 1262 48872 SH SOLE 48872
GENERAL DYNAMICS CORP COM 369550108 2836 32556 SH SOLE 32556
GENERAL ELEC CO COM 369604103 143689 2111140 SH SOLE 2111140
GENERAL MLS INC COM 370334104 7184 104208 SH SOLE 104208
GENERAL MTRS CORP COM 370442105 31876 476200 SH SOLE 476200
GENERAL MTRS CORP CL H 370442501 4728 71498 SH SOLE 71498
GENERAL NUTRITION COS INC COM 37047F103 1954 67100 SH SOLE 67100
GENERAL RE CORP COM 370563108 10461 52699 SH SOLE 52699
GENERAL SEMICONDUCTOR INC COM 370787103 278 21600 SH SOLE 21600
GENERAL SIGNAL CORP COM 370838104 1878 43416 SH SOLE 43416
GENESIS HEALTH VENTURES INC COM 371912106 1211 31105 SH SOLE 31105
GENUINE PARTS CO COM 372460105 4003 129900 SH SOLE 129900
GENZYME CORP COM GENL DIV 372917104 1520 51100 SH SOLE 51100
GEORGIA PAC CORP COM 373298108 6413 61443 SH SOLE 61443
GIANT FOOD INC CL A 374478105 1573 48300 SH SOLE 48300
GILLETTE CO COM 375766102 31072 359993 SH SOLE 359993
GLOBAL MARINE INC COM 379352404 1194 35900 SH SOLE 35900
GOLDEN ST BANCORP INC COM 381197102 899 30100 SH SOLE 30100
GOLDEN WEST FINL CORP DEL COM 381317106 2791 31100 SH SOLE 31100
<PAGE> PAGE 9
VALUE SHARES/ SH/ PUT/ INVSTMT -----VOTING AUTHORITY-----
NAME OF ISSUER -TITLE OF CLASS- --CUSIP-- (x$1000) PRN AMT PRN CALL DSCRETN -MANAGERS- SOLE SHARED NONE
GOODRICH B F CO COM 382388106 1918 42380 SH SOLE 42380
GOODYEAR TIRE & RUBR CO COM 382550101 7524 109442 SH SOLE 109442
GRACE W R & CO DEL COM 383911104 3928 53351 SH SOLE 53351
GRAINGER W W INC COM 384802104 2688 30200 SH SOLE 30200
GREAT LAKES CHEM CORP COM 390568103 2106 42700 SH SOLE 42700
GREEN TREE FINL CORP COM 393505102 4620 98300 SH SOLE 98300
GREENPOINT FINL CORP COM 395384100 2177 34350 SH SOLE 34350
GUIDANT CORP COM 401698105 5906 105462 SH SOLE 105462
GULFSTREAM AEROSPACE CORP COM 402734107 513 17700 SH SOLE 17700
HBO & CO COM 404100109 5070 134300 SH SOLE 134300
HFS INC COM 404181109 7340 98600 SH SOLE 98600
HSN INC COM 40429R109 1381 34000 SH SOLE 34000
HALLIBURTON CO COM 406216101 8325 160100 SH SOLE 160100
HARCOURT GEN INC COM 41163G101 2010 40545 SH SOLE 40545
HARLEY DAVIDSON INC COM 412822108 3298 113000 SH SOLE 113000
HARNISCHFEGER INDS INC COM 413345109 218 5100 SH SOLE 5100
HARRAHS ENTMT INC COM 413619107 1683 74993 SH SOLE 74993
HARRIS CORP DEL COM 413875105 3084 67400 SH SOLE 67400
HARSCO CORP COM 415864107 2301 50700 SH SOLE 50700
HARTFORD FINL SVCS GROUP INC COM 416515104 6794 78938 SH SOLE 78938
HASBRO INC COM 418056107 2262 80437 SH SOLE 80437
HEALTHSOUTH CORP COM 421924101 5967 223600 SH SOLE 223600
HEALTHCARE COMPARE CORP COM 421928102 236 3700 SH SOLE 3700
HEALTH MGMT ASSOC INC NEW CL A 421933102 2509 79350 SH SOLE 79350
HEALTH & RETIREMENT PPTYS TR COM SH BEN INT 422169102 200 10600 SH SOLE 10600
HEINZ H J CO COM 423074103 10069 218000 SH SOLE 218000
HELMERICH & PAYNE INC COM 423452101 976 12200 SH SOLE 12200
HERCULES INC COM 427056106 3562 71591 SH SOLE 71591
HERSHEY FOODS CORP COM 427866108 3949 69900 SH SOLE 69900
HEWLETT PACKARD CO COM 428236103 38008 546382 SH SOLE 546382
HIBERNIA CORP CL A 428656102 236 13900 SH SOLE 13900
HILLENBRAND INDS INC COM 431573104 1712 38000 SH SOLE 38000
HILTON HOTELS CORP COM 432848109 4588 136200 SH SOLE 136200
HOME DEPOT INC COM 437076102 25102 481566 SH SOLE 481566
HOMESTAKE MNG CO COM 437614100 1610 105140 SH SOLE 105140
HON INDS INC COM 438092108 679 11700 SH SOLE 11700
HONEYWELL INC COM 438506107 6000 89300 SH SOLE 89300
HOST MARRIOTT CORP COM 441078102 2902 127567 SH SOLE 127567
HOUSEHOLD INTL INC COM 441815107 7581 66980 SH SOLE 66980
HOUSTON INDS INC COM 442161105 4557 209535 SH SOLE 209535
HUBBELL INC CL B 443510201 3074 66474 SH SOLE 66474
HUMANA INC COM 444859102 2705 113600 SH SOLE 113600
HUNTINGTON BANCSHARES INC COM 446150104 4569 126689 SH SOLE 126689
IBP INC COM 449223106 1680 71100 SH SOLE 71100
IMC GLOBAL INC COM 449669100 1835 52056 SH SOLE 52056
ITT INDS INC IND COM 450911102 2625 79103 SH SOLE 79103
ITT CORP NEW COM 450912100 5176 76403 SH SOLE 76403
IKON OFFICE SOLUTIONS INC COM 451713101 2301 90030 SH SOLE 90030
ILLINOIS CENT CORP COM SER A 451841100 1768 48107 SH SOLE 48107
ILLINOIS TOOL WKS INC COM 452308109 7180 143600 SH SOLE 143600
<PAGE> PAGE 10
VALUE SHARES/ SH/ PUT/ INVSTMT -----VOTING AUTHORITY-----
NAME OF ISSUER -TITLE OF CLASS- --CUSIP-- (x$1000) PRN AMT PRN CALL DSCRETN -MANAGERS- SOLE SHARED NONE
ILLINOVA CORP COM 452317100 1411 65459 SH SOLE 65459
IMMUNEX CORP NEW COM 452528102 619 9200 SH SOLE 9200
INFORMIX CORP COM 456779107 732 104586 SH SOLE 104586
INGERSOLL RAND CO COM 456866102 4994 115970 SH SOLE 115970
INLAND STL INDS INC COM 457472108 864 39500 SH SOLE 39500
INTEL CORP COM 458140100 100624 1090040 SH SOLE 1090040
INTERNATIONAL BUSINESS MACHS COM 459200101 68281 644540 SH SOLE 644540
INTERNATIONAL FLAVORS&FRAGRANC COM 459506101 3315 67650 SH SOLE 67650
INTERNATIONAL GAME TECHNOLOGY COM 459902102 1938 85200 SH SOLE 85200
INTL PAPER CO COM 460146103 10702 194355 SH SOLE 194355
INTERPUBLIC GROUP COS INC COM 460690100 4933 96137 SH SOLE 96137
INTERSTATE BAKERIES CORP DEL COM 46072H108 1515 22100 SH SOLE 22100
INTUIT COM 461202103 944 29500 SH SOLE 29500
IOMEGA CORP COM 462030107 2281 87300 SH SOLE 87300
IPALCO ENTERPRISES INC COM 462613100 1666 48650 SH SOLE 48650
IVAX CORP COM 465823102 897 76362 SH SOLE 76362
JABIL CIRCUIT INC COM 466313103 249 3800 SH SOLE 3800
JEFFERSON PILOT CORP COM 475070108 4170 52787 SH SOLE 52787
JOHNSON & JOHNSON COM 478160104 49373 856800 SH SOLE 856800
JOHNSON CTLS INC COM 478366107 3083 62200 SH SOLE 62200
KLA-TENCORP CORP COM 482480100 2912 43100 SH SOLE 43100
K MART CORP COM 482584109 4539 324200 SH SOLE 324200
KANSAS CITY PWR & LT CO COM 485134100 1645 56000 SH SOLE 56000
KANSAS CITY SOUTHN INDS INC COM 485170104 3300 95832 SH SOLE 95832
KEANE INC COM 486665102 1626 51200 SH SOLE 51200
KELLOGG CO COM 487836108 5027 119346 SH SOLE 119346
KERR MCGEE CORP COM 492386107 2863 41600 SH SOLE 41600
KEYCORP NEW COM 493267108 10022 157515 SH SOLE 157515
KIMBERLY CLARK CORP COM 494368103 17733 362360 SH SOLE 362360
KIMCO REALTY CORP COM 49446R109 386 11100 SH SOLE 11100
KING WORLD PRODTNS INC COM 495667107 1023 23652 SH SOLE 23652
KNIGHT RIDDER INC COM 499040103 3460 63350 SH SOLE 63350
KOHLS CORP COM 500255104 3266 46000 SH SOLE 46000
KOMAG INC COM 500453105 210 10300 SH SOLE 10300
KROGER CO COM 501044101 5003 165728 SH SOLE 165728
LCI INTL INC COM 501813109 1779 66800 SH SOLE 66800
LTV CORP NEW COM 501921100 173 13600 SH SOLE 13600
LSI LOGIC CORP COM 502161102 2949 91800 SH SOLE 91800
LAFARGE CORP COM 505862102 223 6900 SH SOLE 6900
LAM RESH CORP COM 512807108 437 9400 SH SOLE 9400
LATTICE SEMICONDUCTOR CORP COM 518415104 638 9800 SH SOLE 9800
LEAR CORP COM 521865105 335 6800 SH SOLE 6800
LEGGETT & PLATT INC COM 524660107 3422 76800 SH SOLE 76800
LEHMAN BROS HLDGS INC COM 524908100 4413 82290 SH SOLE 82290
LEXMARK INTL GROUP INC CL A 529771107 630 19100 SH SOLE 19100
LILLY ELI & CO COM 532457108 35867 297803 SH SOLE 297803
LIMITED INC COM 532716107 3758 153793 SH SOLE 153793
LIN TELEVISION CORP COM 532776101 443 9500 SH SOLE 9500
LINCARE HLDGS INC COM 532791100 1301 25800 SH SOLE 25800
LINCOLN NATL CORP IND COM 534187109 5334 76604 SH SOLE 76604
<PAGE> PAGE 11
VALUE SHARES/ SH/ PUT/ INVSTMT -----VOTING AUTHORITY-----
NAME OF ISSUER -TITLE OF CLASS- --CUSIP-- (x$1000) PRN AMT PRN CALL DSCRETN -MANAGERS- SOLE SHARED NONE
LINEAR TECHNOLOGY CORP COM 535678106 3781 55000 SH SOLE 55000
LITTON INDS INC COM 538021106 1748 32138 SH SOLE 32138
LIZ CLAIBORNE INC COM 539320101 2962 53920 SH SOLE 53920
LOCKHEED MARTIN CORP COM 539830109 11863 111260 SH SOLE 111260
LOEWS CORP COM 540424108 5847 51768 SH SOLE 51768
LONG ISLAND LTG CO COM 542671102 2432 94900 SH SOLE 94900
LOUISIANA LD & EXPL CO COM 546268103 1984 25334 SH SOLE 25334
LOUISIANA PAC CORP COM 546347105 1845 73800 SH SOLE 73800
LOWES COS INC COM 548661107 4101 105500 SH SOLE 105500
LUBRIZOL CORP COM 549271104 1974 46993 SH SOLE 46993
LUCENT TECHNOLOGIES INC COM 549463107 34480 423712 SH SOLE 423712
LYONDELL PETROCHEMICAL CO COM 552078107 796 30400 SH SOLE 30400
MBIA INC COM 55262C100 3976 31700 SH SOLE 31700
MBNA CORP COM 55262L100 8245 203587 SH SOLE 203587
MCN ENERGY GROUP INC COM 55267J100 250 7800 SH SOLE 7800
MCI COMMUNICATIONS CORP COM 552673105 10860 369703 SH SOLE 369703
MGIC INVT CORP WIS COM 552848103 4789 83554 SH SOLE 83554
MALLINCKRODT INC NEW COM 561232109 1944 54000 SH SOLE 54000
MANPOWER INC COM 56418H100 2425 61400 SH SOLE 61400
MAPCO INC COM 565097102 1410 42800 SH SOLE 42800
MARSH & MCLENNAN COS INC COM 571748102 7714 100672 SH SOLE 100672
MARSHALL & ILSLEY CORP COM 571834100 3883 76700 SH SOLE 76700
MARRIOTT INTL INC COM 571900109 5352 75308 SH SOLE 75308
MARTIN MARIETTA MATLS INC COM 573284106 1492 41437 SH SOLE 41437
MASCO CORP COM 574599106 5153 112473 SH SOLE 112473
MATTEL INC COM 577081102 6456 194888 SH SOLE 194888
MAXIM INTEGRATED PRODS INC COM 57772K101 3397 47550 SH SOLE 47550
MAY DEPT STORES CO COM 577778103 9088 166746 SH SOLE 166746
MAYTAG CORP COM 578592107 2880 84400 SH SOLE 84400
MCAFEE ASSOCS INC COM 579057100 1705 32162 SH SOLE 32162
MCCORMICK & CO INC COM NON VTG 579780206 1410 58600 SH SOLE 58600
MCDONALDS CORP COM 580135101 21306 447367 SH SOLE 447367
MCGRAW HILL COS INC COM 580645109 4623 68300 SH SOLE 68300
MCKESSON CORP NEW COM 581557105 2610 25600 SH SOLE 25600
MEAD CORP COM 582834107 3401 47072 SH SOLE 47072
MEDITRUST SH BEN INT 58501T108 278 6700 SH SOLE 6700
MEDPARTNERS INC NEW COM 58503X107 2123 99021 SH SOLE 99021
MEDTRONIC INC COM 585055106 14974 318600 SH SOLE 318600
MELLON BK CORP COM 585509102 10359 189214 SH SOLE 189214
MERCANTILE BANCORPORATION INC COM 587342106 666 8750 SH SOLE 8750
MERCANTILE BANKSHARES CORP COM 587405101 2516 77400 SH SOLE 77400
MERCANTILE STORES INC COM 587533100 1363 21650 SH SOLE 21650
MERCK & CO INC COM 589331107 77882 779304 SH SOLE 779304
MEREDITH CORP COM 589433101 1388 41900 SH SOLE 41900
MERRILL LYNCH & CO INC COM 590188108 14778 199200 SH SOLE 199200
MEYER FRED INC DEL NEW COM 592907109 793 14900 SH SOLE 14900
MICROSOFT CORP COM 594918104 63276 478234 SH SOLE 478234
MICROCHIP TECHNOLOGY INC COM 595017104 1345 29794 SH SOLE 29794
MICRON ELECTRONICS INC COM 595100108 390 22300 SH SOLE 22300
MICRON TECHNOLOGY INC COM 595112103 3985 114872 SH SOLE 114872
<PAGE> PAGE 12
VALUE SHARES/ SH/ PUT/ INVSTMT -----VOTING AUTHORITY-----
NAME OF ISSUER -TITLE OF CLASS- --CUSIP-- (x$1000) PRN AMT PRN CALL DSCRETN -MANAGERS- SOLE SHARED NONE
MIDAMERICA ENERGY HLDGS CO COM 595920109 1409 81700 SH SOLE 81700
MILLER HERMAN INC COM 600544100 1418 26500 SH SOLE 26500
MILLIPORE CORP COM 601073109 1719 35000 SH SOLE 35000
MINNESOTA MNG & MFG CO COM 604059105 24736 267419 SH SOLE 267419
MIRAGE RESORTS INC COM 60462E104 3817 126700 SH SOLE 126700
MITCHELL ENERGY & DEV CORP CL A 606592202 695 24490 SH SOLE 24490
MOBIL CORP COM 607059102 37573 507738 SH SOLE 507738
MOLEX INC COM 608554101 1968 44352 SH SOLE 44352
MONEY STORE INC COM 60934T101 909 31900 SH SOLE 31900
MONSANTO CO COM 611662107 15011 384890 SH SOLE 384890
MONTANA POWER CO COM 612085100 1238 46500 SH SOLE 46500
MONTEREY RES INC COM 612622100 637 30329 SH SOLE 30329
MORGAN J P & CO INC COM 616880100 14229 125225 SH SOLE 125225
MORGAN STANLEY DEAN WITTR DISC COM NEW 617446448 15831 292825 SH SOLE 292825
MORTON INTL INC IND NEW COM 619335102 3835 108029 SH SOLE 108029
MOTOROLA INC COM 620076109 28159 391780 SH SOLE 391780
MURPHY OIL CORP COM 626717102 2108 36900 SH SOLE 36900
MYLAN LABS INC COM 628530107 1962 87450 SH SOLE 87450
NCR CORP NEW COM 62886E108 2307 66024 SH SOLE 66024
NGC CORP COM 629121104 1945 109600 SH SOLE 109600
NIPSCO INDS INC COM 629140104 1971 46785 SH SOLE 46785
NABISCO HLDGS CORP CL A 629526104 238 5600 SH SOLE 5600
NABORS INDS INC COM 629568106 3212 82500 SH SOLE 82500
NALCO CHEM CO COM 629853102 1963 48994 SH SOLE 48994
NATIONAL CITY CORP COM 635405103 9696 157500 SH SOLE 157500
NATIONAL DATA CORP COM 635621105 664 16200 SH SOLE 16200
NATIONAL SEMICONDUCTOR CORP COM 637640103 3969 96800 SH SOLE 96800
NATIONAL SVC INDS INC COM 637657107 1852 42150 SH SOLE 42150
NATIONSBANK CORP COM 638585109 29285 473294 SH SOLE 473294
NAVISTAR INTL CORP NEW COM 63934E108 1511 54700 SH SOLE 54700
NEIMAN MARCUS GROUP INC COM 640204103 749 23400 SH SOLE 23400
NETSCAPE COMMUNICATIONS CORP COM 641149109 1302 36167 SH SOLE 36167
NEW CENTURY ENERGIES INC COM 64352U103 3807 91608 SH SOLE 91608
NEW ENGLAND ELEC SYS COM 644001109 2002 51000 SH SOLE 51000
NEW YORK ST ELEC & GAS CORP COM 649840105 1384 51500 SH SOLE 51500
NEW YORK TIMES CO CL A 650111107 3633 69200 SH SOLE 69200
NEWELL CO COM 651192106 4445 111130 SH SOLE 111130
NEWMONT MINING CORP COM 651639106 4906 109184 SH SOLE 109184
NEXTLEVEL SYS INC COM 652907106 1459 87100 SH SOLE 87100
NEXTEL COMMUNICATIONS INC CL A 65332V103 3191 110500 SH SOLE 110500
NIAGARA MOHAWK PWR CORP COM 653522102 1092 114200 SH SOLE 114200
NICOR INC COM 654086107 1541 41100 SH SOLE 41100
NIKE INC CL B 654106103 4604 86872 SH SOLE 86872
NINE WEST GROUP INC COM 65440D102 912 23210 SH SOLE 23210
NOBLE AFFILIATES INC COM 654894104 1611 36000 SH SOLE 36000
NOBLE DRILLING CORP COM 655042109 3542 109834 SH SOLE 109834
NORDSTROM INC COM 655664100 2387 37439 SH SOLE 37439
NORFOLK SOUTHERN CORP COM 655844108 8776 85000 SH SOLE 85000
NORTH FORK BANCORPORATION NY COM 659424105 1148 39600 SH SOLE 39600
NORTHEAST UTILS COM 664397106 959 99600 SH SOLE 99600
<PAGE> PAGE 13
VALUE SHARES/ SH/ PUT/ INVSTMT -----VOTING AUTHORITY-----
NAME OF ISSUER -TITLE OF CLASS- --CUSIP-- (x$1000) PRN AMT PRN CALL DSCRETN -MANAGERS- SOLE SHARED NONE
NORTHN STS PWR CO MINN COM 665772109 2393 48100 SH SOLE 48100
NORTHERN TR CORP COM 665859104 5309 89800 SH SOLE 89800
NORTHROP GRUMMAN CORP COM 666807102 4496 37040 SH SOLE 37040
NORTHWEST AIRLS CORP CL A 667280101 2125 51200 SH SOLE 51200
NORWEST CORP COM 669380107 15877 259213 SH SOLE 259213
NOVELL INC COM 670006105 1966 219213 SH SOLE 219213
NOVELLUS SYS INC COM 670008101 1210 9600 SH SOLE 9600
NUCOR CORP COM 670346105 3269 62036 SH SOLE 62036
OGE ENERGY CORP COM 670837103 1585 33600 SH SOLE 33600
OCCIDENTAL PETE CORP DEL COM 674599105 5776 222687 SH SOLE 222687
OFFICEMAX INC COM 67622M108 202 13300 SH SOLE 13300
OFFICE DEPOT INC COM 676220106 2079 103000 SH SOLE 103000
OHIO CAS CORP COM 677240103 1271 27400 SH SOLE 27400
OHIO EDISON CO COM 677347106 2388 101900 SH SOLE 101900
OLD KENT FINL CORP COM 679833103 316 4900 SH SOLE 4900
OLD REP INTL CORP COM 680223104 2812 72100 SH SOLE 72100
OLIN CORP COM PAR $1 680665205 1645 35134 SH SOLE 35134
OMNICARE INC COM 681904108 1882 57900 SH SOLE 57900
OMNICOM GROUP INC COM 681919106 647 8900 SH SOLE 8900
ORACLE CORP COM 68389X105 17965 493037 SH SOLE 493037
ORYX ENERGY COMPANY COM 68763F100 2488 97800 SH SOLE 97800
OWENS CORNING COM 69073F103 1365 37400 SH SOLE 37400
OWENS ILL INC COM NEW 690768403 3167 93326 SH SOLE 93326
OXFORD HEALTH PLANS INC COM 691471106 4118 55000 SH SOLE 55000
PECO ENERGY CO COM 693304107 3422 146000 SH SOLE 146000
PG&E CORP COM 69331C108 6358 274191 SH SOLE 274191
PNC BK CORP COM 693475105 11115 227706 SH SOLE 227706
P P & L RES INC COM 693499105 2502 114400 SH SOLE 114400
PPG INDS INC COM 693506107 7672 122390 SH SOLE 122390
PACCAR INC COM 693718108 2864 51150 SH SOLE 51150
PACIFIC CENTY FINL CORP COM 694058108 2205 40880 SH SOLE 40880
PACIFIC ENTERPRISES COM 694232109 2124 62700 SH SOLE 62700
PACIFICARE HEALTH SYS DEL CL B 695112201 1747 25638 SH SOLE 25638
PACIFICORP COM 695114108 4282 191392 SH SOLE 191392
PAINE WEBBER GROUP INC COM 695629105 2638 56650 SH SOLE 56650
PAIRGAIN TECHNOLOGIES INC COM 695934109 1462 51300 SH SOLE 51300
PALL CORP COM 696429307 1803 83610 SH SOLE 83610
PARAMETRIC TECHNOLOGY CORP COM 699173100 3848 87200 SH SOLE 87200
PARKER HANNIFIN CORP COM 701094104 3594 79875 SH SOLE 79875
PAYCHEX INC COM 704326107 868 24900 SH SOLE 24900
PAYLESS SHOESOURCE INC COM 704379106 2086 34955 SH SOLE 34955
PENNEY J C INC COM 708160106 8217 141064 SH SOLE 141064
PENNZOIL CO COM 709903108 2805 35200 SH SOLE 35200
PEOPLES BK BRIDGEPORT CONN COM 710198102 475 14800 SH SOLE 14800
PEOPLES ENERGY CORP COM 711030106 1176 31200 SH SOLE 31200
PEOPLESOFT INC COM 712713106 2002 33500 SH SOLE 33500
PEP BOYS MANNY MOE & JACK COM 713278109 1401 51400 SH SOLE 51400
PEPSICO INC COM 713448108 40158 990028 SH SOLE 990028
PERKIN ELMER CORP COM 714041100 2755 37711 SH SOLE 37711
PETSMART INC COM 716768106 275 26500 SH SOLE 26500
<PAGE> PAGE 14
VALUE SHARES/ SH/ PUT/ INVSTMT -----VOTING AUTHORITY-----
NAME OF ISSUER -TITLE OF CLASS- --CUSIP-- (x$1000) PRN AMT PRN CALL DSCRETN -MANAGERS- SOLE SHARED NONE
PHARMACIA & UPJOHN INC COM 716941109 10955 300136 SH SOLE 300136
PFIZER INC COM 717081103 49738 828100 SH SOLE 828100
PHELPS DODGE CORP COM 717265102 3362 43310 SH SOLE 43310
PHILIP MORRIS COS INC COM 718154107 64836 1559969 SH SOLE 1559969
PHILLIPS PETE CO COM 718507106 7642 148023 SH SOLE 148023
PHYCOR INC COM 71940F100 1258 43300 SH SOLE 43300
PINNACLE WEST CAP CORP COM 723484101 2376 70647 SH SOLE 70647
PIONEER HI BRED INTL INC COM 723686101 4532 49800 SH SOLE 49800
PIONEER NAT RES CO COM 723787107 1252 29900 SH SOLE 29900
PITNEY BOWES INC COM 724479100 8518 102401 SH SOLE 102401
PITTSTON CO COM BRINKS GRP 725701106 1421 35475 SH SOLE 35475
POLAROID CORP COM 731095105 1246 24345 SH SOLE 24345
POPULAR INC COM 733174106 3260 61500 SH SOLE 61500
POTLATCH CORP COM 737628107 1243 24700 SH SOLE 24700
POTOMAC ELEC PWR CO COM 737679100 1768 77700 SH SOLE 77700
PRAXAIR INC COM 74005P104 5590 109200 SH SOLE 109200
PRECISION CASTPARTS CORP COM 740189105 748 11500 SH SOLE 11500
PREMARK INTL INC COM 740459102 746 23300 SH SOLE 23300
PRICE T ROWE & ASSOCIATES COM 741477103 2696 40092 SH SOLE 40092
PROCTER & GAMBLE CO COM 742718109 59785 865672 SH SOLE 865672
PROGRESSIVE CORP OHIO COM 743315103 3782 35300 SH SOLE 35300
PROMUS HOTEL CORP COM 74342H104 2166 48346 SH SOLE 48346
PROTECTIVE LIFE CORP COM 743674103 1540 30500 SH SOLE 30500
PROVIDENT COS INC COM 743862104 252 3600 SH SOLE 3600
PROVIDENT FINL GROUP INC COM 743866105 203 4300 SH SOLE 4300
PROVIDIAN FINL CORP COM 74406A102 2900 73069 SH SOLE 73069
PUBLIC SVC ENTERPRISE GROUP COM 744573106 3772 146500 SH SOLE 146500
PUBLIC STORAGE INC COM 74460D109 554 18700 SH SOLE 18700
PUGET SOUND ENERGY INC COM 745332106 245 9200 SH SOLE 9200
QUAKER OATS CO COM 747402105 4891 97100 SH SOLE 97100
QUALCOMM INC COM 747525103 2616 41070 SH SOLE 41070
QUANTUM CORP COM 747906105 2161 56400 SH SOLE 56400
QUESTAR CORP COM 748356102 1355 33400 SH SOLE 33400
QUINTILES TRANSNATIONAL CORP COM 748767100 1567 18600 SH SOLE 18600
RJR NABISCO HOLDINGS CORP COM NEW 74960K876 7624 221798 SH SOLE 221798
RPM INC OHIO COM 749685103 1436 70050 SH SOLE 70050
RALSTON PURINA CO COM RAL-PUR GP 751277302 6127 69228 SH SOLE 69228
RAYCHEM CORP DEL COM 754603108 2991 35400 SH SOLE 35400
RAYONIER INC COM 754907103 1384 28620 SH SOLE 28620
RAYTHEON CO COM 755111101 9430 159501 SH SOLE 159501
READERS DIGEST ASSN INC CL A NON VTG 755267101 1742 58076 SH SOLE 58076
READERS DIGEST ASSN INC CL B 755267200 473 16600 SH SOLE 16600
READING & BATES CORP COM NEW 755281805 2577 62000 SH SOLE 62000
REEBOK INTL LTD COM 758110100 2142 44000 SH SOLE 44000
REGAL CINEMAS INC COM 758754105 454 16900 SH SOLE 16900
REGIONS FINL CORP COM 758940100 3873 105400 SH SOLE 105400
RELIANCE GROUP HOLDINGS INC COM 759464100 498 36700 SH SOLE 36700
RELIASTAR FINL CORP COM 75952U103 2987 75016 SH SOLE 75016
REPUBLIC INDS INC COM 760516104 5392 163700 SH SOLE 163700
REPUBLIC N Y CORP COM 760719104 4897 43100 SH SOLE 43100
<PAGE> PAGE 15
VALUE SHARES/ SH/ PUT/ INVSTMT -----VOTING AUTHORITY-----
NAME OF ISSUER -TITLE OF CLASS- --CUSIP-- (x$1000) PRN AMT PRN CALL DSCRETN -MANAGERS- SOLE SHARED NONE
REYNOLDS METALS CO COM 761763101 2913 41137 SH SOLE 41137
RHONE POULENC RORER INC COM 76242T104 3134 32410 SH SOLE 32410
RITE AID CORP COM 767754104 3867 69750 SH SOLE 69750
ROBERT HALF INTL INC COM 770323103 3283 79350 SH SOLE 79350
ROCKWELL INTL CORP NEW COM 773903109 6914 109848 SH SOLE 109848
ROHM & HAAS CO COM 775371107 2878 30000 SH SOLE 30000
ROSS STORES INC COM 778296103 1112 32600 SH SOLE 32600
ROUSE CO COM 779273101 2458 79300 SH SOLE 79300
ROWAN COS INC COM 779382100 2440 68500 SH SOLE 68500
RUBBERMAID INC COM 781088109 2704 105778 SH SOLE 105778
RUSSELL CORP COM 782352108 1036 35200 SH SOLE 35200
RYDER SYS INC COM 783549108 2343 65191 SH SOLE 65191
SBC COMMUNICATIONS INC COM 78387G103 36085 587938 SH SOLE 587938
SCI SYS INC COM 783890106 2483 50100 SH SOLE 50100
SLM HLDG CORP COM 78442A109 5834 37761 SH SOLE 37761
SAFECO CORP COM 786429100 5146 97100 SH SOLE 97100
SAFEWAY INC COM NEW 786514208 8934 164300 SH SOLE 164300
ST JUDE MED INC COM 790849103 2030 57900 SH SOLE 57900
ST PAUL COS INC COM 792860108 4876 59778 SH SOLE 59778
SAKS HLDGS INC COM 79377R109 230 11000 SH SOLE 11000
SALOMON INC COM 79549B107 5372 71454 SH SOLE 71454
SANTA FE ENERGY RES INC COM 802012104 987 78962 SH SOLE 78962
SARA LEE CORP COM 803111103 16386 318175 SH SOLE 318175
SCANA CORP COM 805898103 2015 80400 SH SOLE 80400
SCHERER R P CORP DEL COM 806528105 582 9400 SH SOLE 9400
SCHERING PLOUGH CORP COM 806605101 24642 478482 SH SOLE 478482
SCHWAB CHARLES CORP NEW COM 808513105 4542 127050 SH SOLE 127050
SCIENTIFIC ATLANTA INC COM 808655104 1278 56500 SH SOLE 56500
SCRIPPS HOWARD INC CL A 811054204 1036 23570 SH SOLE 23570
SEAGATE TECHNOLOGY COM 811804103 5762 159500 SH SOLE 159500
SEAGULL ENERGY CORP COM 812007102 1005 39400 SH SOLE 39400
SEALED AIR CORP COM 812115103 225 4100 SH SOLE 4100
SEARS ROEBUCK & CO COM 812387108 12946 227376 SH SOLE 227376
SECURITY DYNAMICS TECHNOLOGIES COM 814208104 1032 27800 SH SOLE 27800
SENSORMATIC ELECTRS CORP COM 817265101 764 54124 SH SOLE 54124
SERVICE CORP INTL COM 817565104 5620 174600 SH SOLE 174600
SHAW INDS INC COM 820286102 1216 96800 SH SOLE 96800
SHERWIN WILLIAMS CO COM 824348106 3210 109048 SH SOLE 109048
SIGMA ALDRICH CORP COM 826552101 2406 73060 SH SOLE 73060
SIGNET BKG CORP COM 826681108 2816 51914 SH SOLE 51914
SILICON GRAPHICS INC COM 827056102 3128 119162 SH SOLE 119162
SIMON DEBARTOLO GROUP INC COM 828781104 1678 50861 SH SOLE 50861
SMITH INTL INC COM 832110100 2742 35300 SH SOLE 35300
SNAP ON INC COM 833034101 2117 45950 SH SOLE 45950
SOFAMOR/DANEK GROUP INC COM 834005100 920 16100 SH SOLE 16100
SOLECTRON CORP COM 834182107 1922 43200 SH SOLE 43200
SOLUTIA INC COM 834376105 1562 78098 SH SOLE 78098
SONAT INC COM 835415100 3236 63599 SH SOLE 63599
SONOCO PRODS CO COM 835495102 2402 70765 SH SOLE 70765
SOUTHERN CO COM 842587107 9254 410164 SH SOLE 410164
<PAGE> PAGE 16
VALUE SHARES/ SH/ PUT/ INVSTMT -----VOTING AUTHORITY-----
NAME OF ISSUER -TITLE OF CLASS- --CUSIP-- (x$1000) PRN AMT PRN CALL DSCRETN -MANAGERS- SOLE SHARED NONE
SOUTHERN NEW ENGLAND TELECOM COM 843485103 2100 51300 SH SOLE 51300
SOUTHLAND CORP COM NEW 844436402 362 141400 SH SOLE 141400
SOUTHTRUST CORP COM 844730101 3812 77400 SH SOLE 77400
SOUTHWEST AIRLS CO COM 844741108 2967 92890 SH SOLE 92890
SPIEKER PPTYS INC COM 848497103 1281 31590 SH SOLE 31590
SPRINT CORP COM 852061100 14721 294417 SH SOLE 294417
STANLEY WKS COM 854616109 2171 50478 SH SOLE 50478
STAPLES INC COM 855030102 3349 121237 SH SOLE 121237
STAR BANC CORP COM 855083101 3519 76600 SH SOLE 76600
STARBUCKS CORP COM 855244109 2576 61600 SH SOLE 61600
STATE STR CORP COM 857477103 7138 117134 SH SOLE 117134
STERIS CORP COM 859152100 1189 28924 SH SOLE 28924
STERLING COMM INC COM 859205106 2238 62271 SH SOLE 62271
STERLING SOFTWARE INC COM 859547101 1034 28820 SH SOLE 28820
STEWART ENTERPRISES INC CL A 860370105 210 4800 SH SOLE 4800
STONE CONTAINER CORP COM 861589109 1001 64300 SH SOLE 64300
STORAGE TECHNOLOGY CORP COM PAR $0.10 862111200 2190 45800 SH SOLE 45800
STRYKER CORP COM 863667101 2473 56600 SH SOLE 56600
SUMMIT BANCORP COM 866005101 4553 102450 SH SOLE 102450
SUN INC COM 866762107 2423 55300 SH SOLE 55300
SUN MICROSYSTEMS INC COM 866810104 11518 246056 SH SOLE 246056
SUNAMERICA INC COM 866930100 2774 70800 SH SOLE 70800
SUNBEAM CORP COM 867071102 2476 55801 SH SOLE 55801
SUNDSTRAND CORP COM 867323107 2875 49900 SH SOLE 49900
SUNGARD DATA SYS INC COM 867363103 223 9200 SH SOLE 9200
SUNTRUST BKS INC COM 867914103 10495 154480 SH SOLE 154480
SUPERVALU INC COM 868536103 2096 53400 SH SOLE 53400
SYBASE INC COM 871130100 1015 56400 SH SOLE 56400
SYBRON INTL CORP COM 87114F106 210 4900 SH SOLE 4900
SYNOPSYS INC COM 871607107 391 9200 SH SOLE 9200
SYNOVUS FINL CORP COM 87161C105 390 17100 SH SOLE 17100
SYSCO CORP COM 871829107 4384 118691 SH SOLE 118691
TCF FINL CORP COM 872275102 263 4500 SH SOLE 4500
TECO ENERGY INC COM 872375100 2109 86100 SH SOLE 86100
TIG HLDGS INC COM 872469101 1776 51022 SH SOLE 51022
TJX COS INC NEW COM 872540109 4016 131412 SH SOLE 131412
TRW INC COM 872649108 5150 93852 SH SOLE 93852
TANDY CORP COM 875382103 2791 83000 SH SOLE 83000
TECH DATA CORP COM 878237106 1256 27300 SH SOLE 27300
TECUMSEH PRODS CO CL A 878895200 1039 18657 SH SOLE 18657
TEKTRONIX INC COM 879131100 229 3400 SH SOLE 3400
TELE COMMUNICATIONS INC NEW COM TCI GRP A 87924V101 5671 276648 SH SOLE 276648
TELE COMMUNICATIONS INC NEW COM LIB GRP A 87924V507 4745 158497 SH SOLE 158497
TELE COMMUNICATIONS INC NEW COM TCI VENT A 87924V887 3263 158195 SH SOLE 158195
TELEPHONE & DATA SYS INC COM 879433100 1980 44000 SH SOLE 44000
TELEPORT COMMUNICATIONS GROUP CL A 879463107 278 6200 SH SOLE 6200
TELLABS INC COM 879664100 6092 118300 SH SOLE 118300
TEMPLE INLAND INC COM 879868107 2489 38893 SH SOLE 38893
TENET HEALTHCARE CORP COM 88033G100 5799 199111 SH SOLE 199111
TENNECO INC NEW COM 88037E101 5528 115470 SH SOLE 115470
<PAGE> PAGE 17
VALUE SHARES/ SH/ PUT/ INVSTMT -----VOTING AUTHORITY-----
NAME OF ISSUER -TITLE OF CLASS- --CUSIP-- (x$1000) PRN AMT PRN CALL DSCRETN -MANAGERS- SOLE SHARED NONE
TERADYNE INC COM 880770102 3272 60802 SH SOLE 60802
TEXACO INC COM 881694103 21430 348812 SH SOLE 348812
TEXAS INSTRS INC COM 882508104 17138 126834 SH SOLE 126834
TEXAS UTILS CO COM 882848104 5513 153149 SH SOLE 153149
TEXTRON INC COM 883203101 6387 98262 SH SOLE 98262
THERMO ELECTRON CORP COM 883556102 4236 105912 SH SOLE 105912
THIOKOL CORP DEL COM 884103102 722 8400 SH SOLE 8400
THOMAS & BETTS CORP COM 884315102 2174 39800 SH SOLE 39800
3COM CORP COM 885535104 11165 217850 SH SOLE 217850
360 COMMUNICATIONS CO COM 885571109 1965 94138 SH SOLE 94138
TIDEWATER INC COM 886423102 3057 51600 SH SOLE 51600
TIFFANY & CO NEW COM 886547108 1220 28700 SH SOLE 28700
TIME WARNER INC COM 887315109 15768 290983 SH SOLE 290983
TIMES MIRROR CO NEW COM SER A 887364107 3098 56400 SH SOLE 56400
TIMKEN CO COM 887389104 1833 45748 SH SOLE 45748
TORCHMARK CORP COM 891027104 3874 98700 SH SOLE 98700
TOSCO CORP COM NEW 891490302 3541 101704 SH SOLE 101704
TOYS R US INC COM 892335100 6402 180331 SH SOLE 180331
TRANSACTION SYS ARCHITECTS CL A 893416107 837 20600 SH SOLE 20600
TRANSAMERICA CORP COM 893485102 4844 48684 SH SOLE 48684
TRANSOCEAN OFFSHORE INC COM 893817106 1093 22800 SH SOLE 22800
TRANSTEXAS GAS CORP COM 893895102 657 41071 SH SOLE 41071
TRAVELERS PPTY CAS CORP CL A 893939108 239 5900 SH SOLE 5900
TRAVELERS GROUP INC COM 894190107 28859 422847 SH SOLE 422847
TRIBUNE CO NEW COM 896047107 4100 76900 SH SOLE 76900
TRINITY INDS INC COM 896522109 220 4550 SH SOLE 4550
TUPPERWARE CORP COM 899896104 1235 43900 SH SOLE 43900
TYCO INTL LTD NEW COM 902124106 591 7203 SH SOLE 7203
TYSON FOODS INC CL A 902494103 2080 88742 SH SOLE 88742
UAL CORP COM PAR $0.01 902549500 3487 41200 SH SOLE 41200
UCAR INTL INC COM 90262K109 1149 24060 SH SOLE 24060
UICI COM 902737105 529 18400 SH SOLE 18400
USX MARATHON GROUP COM NEW 902905827 7601 204409 SH SOLE 204409
UST INC COM 902911106 3877 126842 SH SOLE 126842
USA WASTE SVCS INC COM 902917103 4697 117796 SH SOLE 117796
US BANCORP DEL COM 902973106 16448 170442 SH SOLE 170442
UNUM CORP COM 903192102 4524 99160 SH SOLE 99160
USF&G CORP COM 903290104 2015 87850 SH SOLE 87850
U S G CORP COM NEW 903293405 1879 39200 SH SOLE 39200
USX-U S STL COM 90337T101 2061 59300 SH SOLE 59300
ULTRAMAR DIAMOND SHAMROCK CORP COM 904000106 259 8000 SH SOLE 8000
UNIFI INC COM 904677101 242 5900 SH SOLE 5900
UNICOM CORP COM 904911104 3293 140868 SH SOLE 140868
UNION CAMP CORP COM 905530101 2986 48400 SH SOLE 48400
UNION CARBIDE CORP COM 905581104 3832 78700 SH SOLE 78700
UNION ELEC CO COM 906548102 2575 67000 SH SOLE 67000
UNION PAC CORP COM 907818108 9373 149672 SH SOLE 149672
UNION PAC RES GROUP INC COM 907834105 4445 169734 SH SOLE 169734
UNION PLANTERS CORP COM 908068109 391 7000 SH SOLE 7000
UNION TEX PETE HLDGS INC COM 908640105 207 8800 SH SOLE 8800
<PAGE> PAGE 18
VALUE SHARES/ SH/ PUT/ INVSTMT -----VOTING AUTHORITY-----
NAME OF ISSUER -TITLE OF CLASS- --CUSIP-- (x$1000) PRN AMT PRN CALL DSCRETN -MANAGERS- SOLE SHARED NONE
UNISOURCE WORLDWIDE INC COM 909208100 857 45115 SH SOLE 45115
UNISYS CORP COM 909214108 2153 140600 SH SOLE 140600
UNITED ASSET MGMT CORP COM 909420101 207 7200 SH SOLE 7200
UNITED DOMINION REALTY TR INC COM 910197102 501 33400 SH SOLE 33400
UNITED HEALTHCARE CORP COM 910581107 6141 122825 SH SOLE 122825
UNITED MERIDIAN CORP COM 910865104 1064 28964 SH SOLE 28964
UNITED STATES CELLULAR CORP COM 911684108 1010 27400 SH SOLE 27400
UNITED STATES FILTER CORP NEW COM NEW 911843209 1520 35300 SH SOLE 35300
US AIRWAYS GROUP INC COM 911905107 1990 48100 SH SOLE 48100
U S INDS INC NEW COM 912080108 222 7650 SH SOLE 7650
UNITED STATES SURGICAL CORP COM 912707106 1346 46100 SH SOLE 46100
U S WEST INC COM-COMMUNCTNS 912889102 10494 272567 SH SOLE 272567
U S WEST INC COM-MEDIA GRP 912889201 6020 269783 SH SOLE 269783
UNITED TECHNOLOGIES CORP COM 913017109 13854 171032 SH SOLE 171032
UNITRIN INC COM 913275103 1846 28400 SH SOLE 28400
UNIVERSAL CORP VA COM 913456109 653 18000 SH SOLE 18000
UNIVERSAL HLTH SVCS INC CL B 913903100 1155 26700 SH SOLE 26700
UNOCAL CORP COM 915289102 7833 181120 SH SOLE 181120
V F CORP COM 918204108 3909 42200 SH SOLE 42200
VLSI TECHNOLOGY INC COM 918270109 871 25100 SH SOLE 25100
VALASSIS COMMUNICATIONS INC COM 918866104 411 12900 SH SOLE 12900
VALERO ENERGY CORP NEW COM 91913Y100 1234 37600 SH SOLE 37600
VALLEY NATL BANCORP COM 919794107 1334 42091 SH SOLE 42091
VARIAN ASSOC INC COM 922204102 1621 26087 SH SOLE 26087
VASTAR RES INC COM 922380100 834 19940 SH SOLE 19940
VENCOR INC COM 922602107 536 13000 SH SOLE 13000
VIAD CORP COM 92552R109 1880 98600 SH SOLE 98600
VIACOM INC CL B 925524308 6720 212495 SH SOLE 212495
VIKING OFFICE PRODS COM 926913104 1496 68800 SH SOLE 68800
VITESSE SEMICONDUCTOR CORP COM 928497106 986 19900 SH SOLE 19900
VORNADO RLTY TR SH BEN INT 929042109 1359 16000 SH SOLE 16000
VULCAN MATLS CO COM 929160109 2253 25900 SH SOLE 25900
WACHOVIA CORP COM 929771103 8441 117230 SH SOLE 117230
WAL MART STORES INC COM 931142103 32972 900267 SH SOLE 900267
WALGREEN CO COM 931422109 9124 356040 SH SOLE 356040
WARNER LAMBERT CO COM 934488107 24087 178506 SH SOLE 178506
WASHINGTON FED INC COM 938824109 533 18000 SH SOLE 18000
WASHINGTON MUT INC COM 939322103 9101 130480 SH SOLE 130480
WASHINGTON POST CO CL B 939640108 2420 5400 SH SOLE 5400
WASTE MGMT INC NEW COM 94106K101 10744 307525 SH SOLE 307525
WATSON PHARMACEUTICALS INC COM 942683103 1548 25900 SH SOLE 25900
WEATHERFORD ENTERRA INC COM 947071106 2133 40000 SH SOLE 40000
WELLS FARGO & CO DEL COM 949740104 13853 50376 SH SOLE 50376
WENDYS INTL INC COM 950590109 2044 96200 SH SOLE 96200
WESCO FINL CORP COM 950817106 1260 4000 SH SOLE 4000
WESTERN ATLAS INC COM 957674104 3010 34200 SH SOLE 34200
WESTERN DIGITAL CORP COM 958102105 1895 47300 SH SOLE 47300
WESTERN NATL CORP COM 958845109 1581 55100 SH SOLE 55100
WESTERN RES INC COM 959425109 1623 47300 SH SOLE 47300
WESTINGHOUSE ELEC CORP COM 960402105 11360 419763 SH SOLE 419763
<PAGE> PAGE 19
VALUE SHARES/ SH/ PUT/ INVSTMT -----VOTING AUTHORITY-----
NAME OF ISSUER -TITLE OF CLASS- --CUSIP-- (x$1000) PRN AMT PRN CALL DSCRETN -MANAGERS- SOLE SHARED NONE
WESTPOINT STEVENS INC COM 961238102 419 10150 SH SOLE 10150
WESTVACO CORP COM 961548104 2398 66505 SH SOLE 66505
WEYERHAEUSER CO COM 962166104 7713 129902 SH SOLE 129902
WHEELABRATOR TECH INC NEW COM PAR $0.01 962901302 938 58609 SH SOLE 58609
WHIRLPOOL CORP COM 963320106 3448 52000 SH SOLE 52000
WHITMAN CORP COM 96647K102 2333 85600 SH SOLE 85600
WILLAMETTE INDS INC COM 969133107 2999 78400 SH SOLE 78400
WILLIAMS COS INC DEL COM 969457100 5388 115100 SH SOLE 115100
WINN DIXIE STORES INC COM 974280109 2293 64700 SH SOLE 64700
WISCONSIN ENERGY CORP COM 976657106 2090 80400 SH SOLE 80400
WITCO CORP COM 977385103 2166 47477 SH SOLE 47477
WOLVERINE WORLD WIDE INC COM 978097103 805 31900 SH SOLE 31900
WOOLWORTH CORP COM 980883102 1938 87600 SH SOLE 87600
WORLDCOM INC GA COM 98155K102 15461 437050 SH SOLE 437050
WORTHINGTON INDS INC COM 981811102 1285 63450 SH SOLE 63450
WRIGLEY WM JR CO COM 982526105 5325 70700 SH SOLE 70700
XILINX INC COM 983919101 2693 53200 SH SOLE 53200
XEROX CORP COM 984121103 18310 217490 SH SOLE 217490
YORK INTL CORP NEW COM 986670107 1405 31400 SH SOLE 31400
ZIONS BANCORPORATION COM 989701107 2243 59800 SH SOLE 59800
REPORT SUMMARY 870 DATA RECORDS 5113203 0 OTHER MANAGERS ON WHOSE BEHALF REPORT IS FILED
</TABLE>
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