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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: 03/31/98
Institutional Investment Manager:
U S WEST INVESTMENT MANAGEMENT CO.
9785 MAROON CIRCLE
SUITE 360
ENGLEWOOD CO 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 04/22/98
<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 2252 81700 SH SOLE 81700 0 0
AFLAC INC COM 001055102 5336 84362 SH SOLE 84362 0 0
AGCO CORP COM 001084102 683 23000 SH SOLE 23000 0 0
AES CORP COM 00130H105 4639 88464 SH SOLE 88464 0 0
AMR CORP COM 001765106 8577 59902 SH SOLE 59902 0 0
ARCO CHEM CO COM 001920107 284 6000 SH SOLE 6000 0 0
AT&T CORP COM 001957109 64792 987306 SH SOLE 987306 0 0
ABBOTT LABS COM 002824100 34983 464511 SH SOLE 464511 0 0
ACCUSTAFF INC COM 004401105 1918 55600 SH SOLE 55600 0 0
ADAPTEC INC COM 00651F108 1397 71160 SH SOLE 71160 0 0
ADOBE SYS INC COM 00724F101 2119 46900 SH SOLE 46900 0 0
ADVANCED FIBRE COMMUNICATIONS COM 00754A105 1400 38500 SH SOLE 38500 0 0
AEROQUIP-VICKERS INC COM 007869100 723 12500 SH SOLE 12500 0 0
ADVANCED MICRO DEVICES INC COM 007903107 2447 84200 SH SOLE 84200 0 0
ADVANTA CORP CL A 007942105 330 14683 SH SOLE 14683 0 0
AETNA INC COM 008117103 7304 87537 SH SOLE 87537 0 0
AHMANSON H F & CO COM 008677106 4960 64000 SH SOLE 64000 0 0
AIR PRODS & CHEMS INC COM 009158106 5049 60925 SH SOLE 60925 0 0
AIRGAS INC COM 009363102 759 43974 SH SOLE 43974 0 0
AIRTOUCH COMMUNICATIONS INC COM 00949T100 15045 307443 SH SOLE 307443 0 0
ALBEMARLE CORP COM 012653101 359 14200 SH SOLE 14200 0 0
ALBERTSONS INC COM 013104104 6891 130939 SH SOLE 130939 0 0
ALEXANDER & BALDWIN INC COM 014482103 1100 36000 SH SOLE 36000 0 0
ALLEGHENY ENERGY INC COM 017361106 2527 75300 SH SOLE 75300 0 0
ALLEGHENY TELEDYNE INC COM 017415100 2285 82150 SH SOLE 82150 0 0
ALLEGIANCE CORP COM 017475104 1602 40504 SH SOLE 40504 0 0
ALLERGAN INC COM 018490102 1549 40756 SH SOLE 40756 0 0
ALLIEDSIGNAL INC COM 019512102 12469 296882 SH SOLE 296882 0 0
ALLMERICA FINL CORP COM 019754100 1807 28284 SH SOLE 28284 0 0
ALLSTATE CORP COM 020002101 21008 228498 SH SOLE 228498 0 0
ALLTEL CORP COM 020039103 5333 122066 SH SOLE 122066 0 0
ALTERA CORP COM 021441100 2144 56800 SH SOLE 56800 0 0
ALUMAX INC COM 022197107 1344 29750 SH SOLE 29750 0 0
ALUMINUM CO AMER COM 022249106 6654 96700 SH SOLE 96700 0 0
ALZA CORP DEL COM 022615108 2330 52000 SH SOLE 52000 0 0
AMBAC FINL GROUP INC COM 023139108 2600 44500 SH SOLE 44500 0 0
AMERADA HESS CORP COM 023551104 2941 50430 SH SOLE 50430 0 0
AMEREN CORP COM 023608102 3260 77394 SH SOLE 77394 0 0
AMERICA ONLINE INC DEL COM 02364J104 9024 132100 SH SOLE 132100 0 0
AMERICAN BANKERS INS GROUP INC COM 024456105 1077 16700 SH SOLE 16700 0 0
AMERICAN ELEC PWR INC COM 025537101 5538 110200 SH SOLE 110200 0 0
AMERICAN EXPRESS CO COM 025816109 25645 279318 SH SOLE 279318 0 0
AMERICAN FINL GROUP INC OHIO COM 025932104 1154 26600 SH SOLE 26600 0 0
AMERICAN GENERAL CORP COM 026351106 9331 144248 SH SOLE 144248 0 0
AMERICAN GREETINGS CORP CL A 026375105 2141 46551 SH SOLE 46551 0 0
AMERICAN HOME PRODS CORP COM 026609107 37713 395414 SH SOLE 395414 0 0
AMERICAN INTL GROUP INC COM 026874107 44960 357006 SH SOLE 357006 0 0
AMERICAN NATL INS CO COM 028591105 859 8800 SH SOLE 8800 0 0
AMERICAN PWR CONVERSION CORP COM 029066107 1457 50800 SH SOLE 50800 0 0
AMERICAN STD COS INC DEL COM 029712106 2271 49500 SH SOLE 49500 0 0
<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
AMERICAN STORES CO NEW COM 030096101 4103 157826 SH SOLE 157826 0 0
AMERICAN WTR WKS INC COM 030411102 417 13200 SH SOLE 13200 0 0
AMERITECH CORP NEW COM 030954101 32750 662460 SH SOLE 662460 0 0
AMGEN INC COM 031162100 9813 161200 SH SOLE 161200 0 0
AMP INC COM 031897101 5739 130991 SH SOLE 130991 0 0
AMOCO CORP COM 031905102 25115 290767 SH SOLE 290767 0 0
AMSOUTH BANCORPORATION COM 032165102 3494 59150 SH SOLE 59150 0 0
ANADARKO PETE CORP COM 032511107 2607 37778 SH SOLE 37778 0 0
ANALOG DEVICES INC COM 032654105 3360 101049 SH SOLE 101049 0 0
ANDREW CORP COM 034425108 702 35425 SH SOLE 35425 0 0
ANHEUSER BUSCH COS INC COM 035229103 12181 263012 SH SOLE 263012 0 0
AON CORP COM 037389103 6046 93375 SH SOLE 93375 0 0
APACHE CORP COM 037411105 2109 57399 SH SOLE 57399 0 0
APOLLO GROUP INC CL A 037604105 996 20700 SH SOLE 20700 0 0
APPLE COMPUTER INC COM 037833100 2184 79405 SH SOLE 79405 0 0
APPLIED MATLS INC COM 038222105 7908 223952 SH SOLE 223952 0 0
ARCHER DANIELS MIDLAND CO COM 039483102 6934 316096 SH SOLE 316096 0 0
ARMSTRONG WORLD INDS INC COM 042476101 2869 33149 SH SOLE 33149 0 0
ARROW ELECTRS INC COM 042735100 1761 65086 SH SOLE 65086 0 0
ASARCO INC COM 043413103 339 12700 SH SOLE 12700 0 0
ASCEND COMMUNICATIONS INC COM 043491109 4094 108100 SH SOLE 108100 0 0
ASHLAND INC COM 044204105 2383 42091 SH SOLE 42091 0 0
ASSOCIATES FIRST CAP CORP CL A 046008108 1833 23200 SH SOLE 23200 0 0
ATLANTIC RICHFIELD CO COM 048825103 15958 202966 SH SOLE 202966 0 0
ATMEL CORP COM 049513104 926 61500 SH SOLE 61500 0 0
AUTODESK INC COM 052769106 1251 29005 SH SOLE 29005 0 0
AUTOLIV INC COM 052800109 1616 52040 SH SOLE 52040 0 0
AUTOMATIC DATA PROCESSING INC COM 053015103 12509 183791 SH SOLE 183791 0 0
AUTOZONE INC COM 053332102 3428 101200 SH SOLE 101200 0 0
AVERY DENNISON CORP COM 053611109 3565 66790 SH SOLE 66790 0 0
AVNET INC COM 053807103 1479 25700 SH SOLE 25700 0 0
AVON PRODS INC COM 054303102 5806 74442 SH SOLE 74442 0 0
BB&T CORP COM 054937107 2274 33600 SH SOLE 33600 0 0
BHC COMMUNICATIONS INC CL A 055448104 1143 8100 SH SOLE 8100 0 0
BJ SVCS CO COM 055482103 1997 54800 SH SOLE 54800 0 0
BMC SOFTWARE INC COM 055921100 5188 61900 SH SOLE 61900 0 0
BAKER HUGHES INC COM 057224107 4300 106835 SH SOLE 106835 0 0
BALL CORP COM 058498106 269 8200 SH SOLE 8200 0 0
BALTIMORE GAS & ELEC CO COM 059165100 2978 91100 SH SOLE 91100 0 0
BANC ONE CORP COM 059438101 25265 399450 SH SOLE 399450 0 0
BANDAG INC COM 059815100 224 3800 SH SOLE 3800 0 0
BANK NEW YORK INC COM 064057102 15054 239668 SH SOLE 239668 0 0
BANKBOSTON CORP COM 06605R106 10191 92431 SH SOLE 92431 0 0
BANKAMERICA CORP COM 066050105 34890 422264 SH SOLE 422264 0 0
BANKERS TRUST N Y CORP COM 066365107 7287 60569 SH SOLE 60569 0 0
BARD C R INC COM 067383109 1430 38900 SH SOLE 38900 0 0
BARNES & NOBLE INC COM 067774109 1387 35560 SH SOLE 35560 0 0
BATTLE MTN GOLD CO COM 071593107 1030 161500 SH SOLE 161500 0 0
BAUSCH & LOMB INC COM 071707103 1526 33400 SH SOLE 33400 0 0
BAXTER INTL INC COM 071813109 9202 166921 SH SOLE 166921 0 0
<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
BAY NETWORKS INC COM 072510100 3260 120183 SH SOLE 120183 0 0
BEAR STEARNS COS INC COM 073902108 4555 88658 SH SOLE 88658 0 0
BECKMAN INSTRS INC NEW COM 075816108 1719 30000 SH SOLE 30000 0 0
BECTON DICKINSON & CO COM 075887109 4832 71000 SH SOLE 71000 0 0
BED BATH & BEYOND INC COM 075896100 605 13100 SH SOLE 13100 0 0
BELL ATLANTIC CORP COM 077853109 47865 466974 SH SOLE 466974 0 0
BELLSOUTH CORP COM 079860102 40379 597654 SH SOLE 597654 0 0
BELO A H CORP DEL COM SER A 080555105 1683 30600 SH SOLE 30600 0 0
BEMIS INC COM 081437105 460 10200 SH SOLE 10200 0 0
BENEFICIAL CORP COM 081721102 4151 33393 SH SOLE 33393 0 0
BERGEN BRUNSWIG CORP CL A 083739102 1432 33587 SH SOLE 33587 0 0
BESTFOODS COM 08658U101 10121 86601 SH SOLE 86601 0 0
BETHLEHEM STL CORP COM 087509105 1008 74300 SH SOLE 74300 0 0
BETZDEARBORN INC COM 087779104 1174 20800 SH SOLE 20800 0 0
BEVERLY ENTERPRISES INC COM NEW 087851309 1316 98840 SH SOLE 98840 0 0
BIOGEN INC COM 090597105 2034 42200 SH SOLE 42200 0 0
BIOMET INC COM 090613100 2001 66700 SH SOLE 66700 0 0
BLACK & DECKER CORP COM 091797100 3704 69800 SH SOLE 69800 0 0
BLOCK H & R INC COM 093671105 3255 68433 SH SOLE 68433 0 0
BLYTH INDS INC COM 09643P108 880 25800 SH SOLE 25800 0 0
BOEING CO COM 097023105 30668 588355 SH SOLE 588355 0 0
BOISE CASCADE CORP COM 097383103 530 14700 SH SOLE 14700 0 0
BOISE CASCADE OFFICE PRODS COM 097403109 241 12700 SH SOLE 12700 0 0
BORDERS GROUP INC COM 099709107 1884 55300 SH SOLE 55300 0 0
BORG-WARNER AUTOMOTIVE INC COM 099724106 256 4000 SH SOLE 4000 0 0
BOSTON CHICKEN INC COM 100578103 173 34300 SH SOLE 34300 0 0
BOSTON EDISON CO COM 100599109 2982 71100 SH SOLE 71100 0 0
BOSTON SCIENTIFIC CORP COM 101137107 5015 74300 SH SOLE 74300 0 0
BOWATER INC COM 102183100 858 15200 SH SOLE 15200 0 0
BRIGGS & STRATTON CORP COM 109043109 334 7300 SH SOLE 7300 0 0
BRISTOL MYERS SQUIBB CO COM 110122108 62920 603186 SH SOLE 603186 0 0
BROWN FORMAN CORP CL B 115637209 1403 25500 SH SOLE 25500 0 0
BROWNING FERRIS INDS COM 115885105 2972 91093 SH SOLE 91093 0 0
BRUNSWICK CORP COM 117043109 2225 63800 SH SOLE 63800 0 0
BURLINGTON NORTHN SANTA FE CP COM 12189T104 9843 94640 SH SOLE 94640 0 0
BURLINGTON RES INC COM 122014103 5156 107565 SH SOLE 107565 0 0
CCB FINL CORP COM 124875105 564 5100 SH SOLE 5100 0 0
CBS CORP COM 12490K107 14945 440379 SH SOLE 440379 0 0
CIGNA CORP COM 125509109 10523 51330 SH SOLE 51330 0 0
CMS ENERGY CORP COM 125896100 3214 68476 SH SOLE 68476 0 0
CNA FINL CORP COM 126117100 900 6002 SH SOLE 6002 0 0
CNF TRANSN INC COM 12612W104 1035 28800 SH SOLE 28800 0 0
CSX CORP COM 126408103 8885 149334 SH SOLE 149334 0 0
CVS CORP COM 126650100 5612 74329 SH SOLE 74329 0 0
CABLETRON SYS INC COM 126920107 1032 70900 SH SOLE 70900 0 0
CABOT CORP COM 127055101 1993 54040 SH SOLE 54040 0 0
CADENCE DESIGN SYSTEM INC COM 127387108 4458 128747 SH SOLE 128747 0 0
CALENERGY INC COM 129466108 379 13400 SH SOLE 13400 0 0
CALLAWAY GOLF CO COM 131193104 1401 48300 SH SOLE 48300 0 0
CAMBRIDGE TECH PARTNERS MASS COM 132524109 1442 29100 SH SOLE 29100 0 0
<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
CAMCO INTL INC COM 132632100 1264 20900 SH SOLE 20900 0 0
CAMPBELL SOUP CO COM 134429109 8842 155800 SH SOLE 155800 0 0
CAPITAL ONE FINL CORP COM 14040H105 641 8124 SH SOLE 8124 0 0
CARDINAL HEALTH INC COM 14149Y108 6249 70858 SH SOLE 70858 0 0
CAROLINA PWR & LT CO COM 144141108 4015 88720 SH SOLE 88720 0 0
CARRAMERICA RLTY CORP COM 144418100 300 10000 SH SOLE 10000 0 0
CASE CORP COM 14743R103 1839 27000 SH SOLE 27000 0 0
CATELLUS DEV CORP COM 149111106 722 38900 SH SOLE 38900 0 0
CATERPILLAR INC DEL COM 149123101 12512 227238 SH SOLE 227238 0 0
CENDANT CORP COM 151313103 19470 491357 SH SOLE 491357 0 0
CENTEX CORP COM 152312104 1350 35400 SH SOLE 35400 0 0
CENTOCOR INC COM 152342101 1611 36100 SH SOLE 36100 0 0
CENTRAL & SOUTH WEST CORP COM 152357109 3458 129281 SH SOLE 129281 0 0
CENTRAL NEWSPAPERS INC CL A 154647101 235 3300 SH SOLE 3300 0 0
CENTURA BKS INC COM 15640T100 306 4300 SH SOLE 4300 0 0
CENTURY TEL ENTERPRISES INC COM 156686107 2433 39800 SH SOLE 39800 0 0
CERIDIAN CORP COM 15677T106 1882 34900 SH SOLE 34900 0 0
CHAMPION INTL CORP COM 158525105 3211 59124 SH SOLE 59124 0 0
CHANCELLOR MEDIA CORP COM 158915108 2737 59670 SH SOLE 59670 0 0
CHARTER ONE FINL INC COM 160903100 2842 42456 SH SOLE 42456 0 0
CHASE MANHATTAN CORP NEW COM 16161A108 34619 256674 SH SOLE 256674 0 0
CHEVRON CORPORATION COM 166751107 31148 387832 SH SOLE 387832 0 0
CHIQUITA BRANDS INTL INC COM 170032106 140 10200 SH SOLE 10200 0 0
CHIRON CORP COM 170040109 2317 110640 SH SOLE 110640 0 0
CHOICEPOINT INC COM 170388102 654 12019 SH SOLE 12019 0 0
CHRIS CRAFT INDS INC COM 170520100 389 6592 SH SOLE 6592 0 0
CHRYSLER CORP COM 171196108 13598 327162 SH SOLE 327162 0 0
CHUBB CORP COM 171232101 8250 105264 SH SOLE 105264 0 0
CIENA CORP COM 171779101 2336 54800 SH SOLE 54800 0 0
CINCINNATI BELL INC COM 171870108 3112 87354 SH SOLE 87354 0 0
CINCINNATI FINL CORP COM 172062101 4421 35295 SH SOLE 35295 0 0
CINERGY CORP COM 172474108 3419 92400 SH SOLE 92400 0 0
CIRCUIT CITY STORE INC CIRCT CITY GRP 172737108 2753 64409 SH SOLE 64409 0 0
CISCO SYS INC COM 17275R102 42197 617143 SH SOLE 617143 0 0
CINTAS CORP COM 172908105 978 18900 SH SOLE 18900 0 0
CIRCUS CIRCUS ENTERPRISES INC COM 172909103 1271 60508 SH SOLE 60508 0 0
CITICORP COM 173034109 36945 260173 SH SOLE 260173 0 0
CITIZENS CORP COM 174533109 265 8498 SH SOLE 8498 0 0
CITIZENS UTILS CO DEL CL B 177342201 1072 101531 SH SOLE 101531 0 0
CITY INVESTING CO LIQ TR UNIT BEN INT 177900107 33 35000 SH SOLE 35000 0 0
CITY NATL CORP COM 178566105 695 18300 SH SOLE 18300 0 0
CLAYTON HOMES INC COM 184190106 514 25400 SH SOLE 25400 0 0
CLEAR CHANNEL COMMUNICATIONS COM 184502102 2283 23300 SH SOLE 23300 0 0
CLOROX CO DEL COM 189054109 3933 45900 SH SOLE 45900 0 0
COASTAL CORP COM 190441105 4676 71800 SH SOLE 71800 0 0
COCA COLA CO COM 191216100 106331 1373120 SH SOLE 1373120 0 0
COCA COLA ENTERPRISES INC COM 191219104 4898 133500 SH SOLE 133500 0 0
COGNIZANT CORP COM 192441103 6227 108529 SH SOLE 108529 0 0
COLGATE PALMOLIVE CO COM 194162103 15434 178174 SH SOLE 178174 0 0
COLTEC INDS INC COM 196879100 758 30300 SH SOLE 30300 0 0
<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
COLUMBIA ENERGY GROUP COM 197648108 2840 36522 SH SOLE 36522 0 0
COLUMBIA/HCA HEALTHCARE CORP COM 197677107 12381 383904 SH SOLE 383904 0 0
COMAIR HOLDINGS INC COM 199789108 935 35300 SH SOLE 35300 0 0
COMCAST CORP CL A 200300101 364 10500 SH SOLE 10500 0 0
COMCAST CORP CL A SPL 200300200 7362 208495 SH SOLE 208495 0 0
COMDISCO INC COM 200336105 1802 41300 SH SOLE 41300 0 0
COMERICA INC COM 200340107 7470 70600 SH SOLE 70600 0 0
COMMERCE BANCSHARES INC COM 200525103 533 11168 SH SOLE 11168 0 0
COMMSCOPE INC COM 203372107 379 26266 SH SOLE 26266 0 0
COMPASS BANCSHARES INC COM 20449H109 930 18500 SH SOLE 18500 0 0
COMPAQ COMPUTER CORP COM 204493100 22500 869554 SH SOLE 869554 0 0
COMPUTER ASSOC INTL INC COM 204912109 14926 258459 SH SOLE 258459 0 0
COMPUSA INC COM 204932107 1576 60600 SH SOLE 60600 0 0
COMPUTER SCIENCES CORP COM 205363104 5553 100960 SH SOLE 100960 0 0
COMPUWARE CORP COM 205638109 4631 93800 SH SOLE 93800 0 0
COMSAT CORP COM SER 1 20564D107 554 16100 SH SOLE 16100 0 0
CONAGRA INC COM 205887102 9187 285970 SH SOLE 285970 0 0
CONCORD EFS INC COM 206197105 1536 44450 SH SOLE 44450 0 0
CONSECO INC COM 208464107 6506 114900 SH SOLE 114900 0 0
CONSOLIDATED EDISON INC COM 209115104 6470 138400 SH SOLE 138400 0 0
CONSOLIDATED NAT GAS CO COM 209615103 3422 59328 SH SOLE 59328 0 0
CONSOLIDATED PAPERS INC COM 209759109 506 7900 SH SOLE 7900 0 0
CONSOLIDATED STORES CORP COM 210149100 1827 42550 SH SOLE 42550 0 0
CONTINENTAL AIRLS INC CL B 210795308 2153 36600 SH SOLE 36600 0 0
COOPER CAMERON CORP COM 216640102 1582 26200 SH SOLE 26200 0 0
COOPER INDS INC COM 216669101 4495 75629 SH SOLE 75629 0 0
COOPER TIRE & RUBR CO COM 216831107 1209 50900 SH SOLE 50900 0 0
COORS ADOLPH CO CL B 217016104 559 15960 SH SOLE 15960 0 0
CORESTATES FINL CORP COM 218695104 11660 129912 SH SOLE 129912 0 0
CORN PRODS INTL INC COM 219023108 852 23750 SH SOLE 23750 0 0
CORNING INC COM 219350105 6261 141493 SH SOLE 141493 0 0
CORPORATE EXPRESS INC COM 219888104 686 68850 SH SOLE 68850 0 0
CORRECTIONS CORP AMER COM 220256101 1788 52400 SH SOLE 52400 0 0
COSTCO COMPANIES INC COM 22160Q102 7060 131957 SH SOLE 131957 0 0
COUNTRYWIDE CR INDS INC DEL COM 222372104 3603 67734 SH SOLE 67734 0 0
COX COMMUNICATIONS INC NEW CL A 224044107 2032 48370 SH SOLE 48370 0 0
CRACKER BARREL OLD CTRY STR COM 224100107 1760 44000 SH SOLE 44000 0 0
CRANE CO COM 224399105 610 11500 SH SOLE 11500 0 0
CRESCENT REAL ESTATE EQUITIES COM 225756105 1955 54300 SH SOLE 54300 0 0
CRESTAR FINL CORP COM 226091106 4213 71256 SH SOLE 71256 0 0
CROMPTON & KNOWLES CORP COM 227111101 1146 39600 SH SOLE 39600 0 0
CROWN CORK & SEAL INC COM 228255105 3876 72455 SH SOLE 72455 0 0
CUMMINS ENGINE INC COM 231021106 1428 25900 SH SOLE 25900 0 0
CYPRESS SEMICONDUCTOR CORP COM 232806109 263 26000 SH SOLE 26000 0 0
CYPRUS AMAX MINERALS CO COM 232809103 1023 61550 SH SOLE 61550 0 0
CYTEC INDS INC COM 232820100 1740 31600 SH SOLE 31600 0 0
DQE INC COM 23329J104 2567 68900 SH SOLE 68900 0 0
DPL INC COM 233293109 2235 114600 SH SOLE 114600 0 0
DSC COMMUNICATIONS CORP COM 233311109 1390 76400 SH SOLE 76400 0 0
DST SYS INC DEL COM 233326107 1377 26200 SH SOLE 26200 0 0
<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
DTE ENERGY CO COM 233331107 3770 95900 SH SOLE 95900 0 0
DALLAS SEMICONDUCTOR CORP COM 235204104 266 7900 SH SOLE 7900 0 0
DANA CORP COM 235811106 4073 70000 SH SOLE 70000 0 0
DANAHER CORP DEL COM 235851102 729 9600 SH SOLE 9600 0 0
DARDEN RESTAURANTS INC COM 237194105 1666 107078 SH SOLE 107078 0 0
DAYTON HUDSON CORP COM 239753106 11661 132517 SH SOLE 132517 0 0
DEAN FOODS CO COM 242361103 599 11900 SH SOLE 11900 0 0
DEERE & CO COM 244199105 9617 155276 SH SOLE 155276 0 0
DELL COMPUTER CORP COM 247025109 22421 330932 SH SOLE 330932 0 0
DELTA AIR LINES INC DEL COM 247361108 5516 46651 SH SOLE 46651 0 0
DELUXE CORP COM 248019101 1752 53200 SH SOLE 53200 0 0
DENTSPLY INTL INC NEW COM 249030107 1047 33576 SH SOLE 33576 0 0
DEPOSIT GTY CORP COM 249555103 544 9600 SH SOLE 9600 0 0
DIAL CORP NEW COM 25247D101 1577 65900 SH SOLE 65900 0 0
DIAMOND OFFSHORE DRILLING INC COM 25271C102 1103 24300 SH SOLE 24300 0 0
DIEBOLD INC COM 253651103 2021 45937 SH SOLE 45937 0 0
DIGITAL EQUIP CORP COM 253849103 5321 101719 SH SOLE 101719 0 0
DILLARDS INC CL A 254067101 2479 67107 SH SOLE 67107 0 0
DIME BANCORP INC NEW COM 25429Q102 2405 80010 SH SOLE 80010 0 0
DISNEY WALT CO COM 254687106 44188 413941 SH SOLE 413941 0 0
DOLE FOOD INC COM 256605106 1605 33178 SH SOLE 33178 0 0
DOLLAR GEN CORP COM 256669102 1590 41093 SH SOLE 41093 0 0
DOLLAR TREE STORES INC COM 256747106 1190 22400 SH SOLE 22400 0 0
DOMINION RES INC VA COM 257470104 4502 107185 SH SOLE 107185 0 0
DONALDSON LUFKIN & JENRETTE NW COM 257661108 297 3500 SH SOLE 3500 0 0
DONNELLEY R R & SONS CO COM 257867101 2729 66460 SH SOLE 66460 0 0
DOVER CORP COM 260003108 5358 141006 SH SOLE 141006 0 0
DOW CHEM CO COM 260543103 13819 142100 SH SOLE 142100 0 0
DOW JONES & CO INC COM 260561105 2038 38500 SH SOLE 38500 0 0
DRESSER INDS INC COM 261597108 5291 110089 SH SOLE 110089 0 0
DU PONT E I DE NEMOURS & CO COM 263534109 47129 693074 SH SOLE 693074 0 0
DUKE ENERGY CORP COM 264399106 12341 207190 SH SOLE 207190 0 0
DUKE REALTY INVT INC COM NEW 264411505 987 40500 SH SOLE 40500 0 0
DUN & BRADSTREET CORP COM 264830100 3874 113329 SH SOLE 113329 0 0
DURA PHARMACEUTICALS INC COM 26632S109 724 29400 SH SOLE 29400 0 0
EEX CORP COM 26842V108 807 82275 SH SOLE 82275 0 0
E M C CORP MASS COM 268648102 11321 299400 SH SOLE 299400 0 0
ENSCO INTL INC COM 26874Q100 2639 95100 SH SOLE 95100 0 0
EVI INC COM 268939105 950 20522 SH SOLE 20522 0 0
EASTMAN CHEM CO COM 277432100 3646 54064 SH SOLE 54064 0 0
EASTMAN KODAK CO COM 277461109 12343 190265 SH SOLE 190265 0 0
EATON CORP COM 278058102 4674 49100 SH SOLE 49100 0 0
ECHLIN INC COM 278749106 2208 42100 SH SOLE 42100 0 0
ECOLAB INC COM 278865100 2302 79384 SH SOLE 79384 0 0
EDISON INTL COM 281020107 7928 269900 SH SOLE 269900 0 0
EDWARDS AG INC COM 281760108 2718 62117 SH SOLE 62117 0 0
EL PASO NAT GAS CO COM NEW 283695872 2553 36178 SH SOLE 36178 0 0
ELECTRONIC ARTS INC COM 285512109 1807 38500 SH SOLE 38500 0 0
ELECTRONIC DATA SYS NEW COM 285661104 9594 209124 SH SOLE 209124 0 0
ELECTRONICS FOR IMAGING INC COM 286082102 897 34500 SH SOLE 34500 0 0
<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
EMERSON ELEC CO COM 291011104 16948 259990 SH SOLE 259990 0 0
ENGELHARD CORP COM 292845104 1302 68550 SH SOLE 68550 0 0
ENOVA CORP COM 293552105 2411 86300 SH SOLE 86300 0 0
ENRON CORP COM 293561106 8213 177090 SH SOLE 177090 0 0
ENRON OIL & GAS CO COM 293562104 411 17900 SH SOLE 17900 0 0
ENTERGY CORP NEW COM 29364G103 4128 138770 SH SOLE 138770 0 0
EQUIFAX INC COM 294429105 3675 100690 SH SOLE 100690 0 0
EQUITABLE COS INC COM 29444G107 3045 53956 SH SOLE 53956 0 0
EQUITY OFFICE PROPERTIES TRUST COM 294741103 661 21574 SH SOLE 21574 0 0
EQUITY RESIDENTIAL PPTYS TR SH BEN INT 29476L107 912 18149 SH SOLE 18149 0 0
ETHYL CORP COM 297659104 174 21700 SH SOLE 21700 0 0
EVEREST REINS HLDGS INC COM 299808105 605 14700 SH SOLE 14700 0 0
EXCEL COMMUNICATIONS INC NEW COM 30065K104 306 13000 SH SOLE 13000 0 0
EXTENDED STAY AMER INC COM 30224P101 440 29968 SH SOLE 29968 0 0
EXXON CORP COM 302290101 99736 1474846 SH SOLE 1474846 0 0
F M C CORP COM NEW 302491303 1616 20587 SH SOLE 20587 0 0
FPL GROUP INC COM 302571104 6802 105861 SH SOLE 105861 0 0
FAMILY DLR STORES INC COM 307000109 1231 32400 SH SOLE 32400 0 0
FASTENAL CO COM 311900104 347 8000 SH SOLE 8000 0 0
FDX CORP COM 31304N107 6098 85740 SH SOLE 85740 0 0
FEDERAL HOME LN MTG CORP COM 313400301 20180 425400 SH SOLE 425400 0 0
FEDERAL NATL MTG ASSN COM 313586109 40415 638966 SH SOLE 638966 0 0
FEDERAL SIGNAL CORP COM 313855108 305 13400 SH SOLE 13400 0 0
FEDERATED DEPT STORES INC DEL COM 31410H101 6612 127623 SH SOLE 127623 0 0
FIFTH THIRD BANCORP COM 316773100 7618 89100 SH SOLE 89100 0 0
FINGERHUT COS INC COM 317867109 589 22700 SH SOLE 22700 0 0
FINOVA GROUP INC COM 317928109 966 16400 SH SOLE 16400 0 0
FIRST AMER CORP TENN COM 318900107 828 16900 SH SOLE 16900 0 0
FIRST AMER BK CORP COM 318906104 5082 58750 SH SOLE 58750 0 0
FIRST CHICAGO NBD CORP COM 31945A100 16302 184992 SH SOLE 184992 0 0
FIRST COMM CORP COM 319779104 995 11600 SH SOLE 11600 0 0
FIRST COML CORP COM 319825105 549 7855 SH SOLE 7855 0 0
FIRST DATA CORP COM 319963104 7720 237540 SH SOLE 237540 0 0
FIRST EMPIRE ST CORP COM 320076102 400 800 SH SOLE 800 0 0
FIRST HAWAIIAN INC COM 320506108 264 6600 SH SOLE 6600 0 0
FIRST HEALTH GROUP CORP COM 320960107 515 9500 SH SOLE 9500 0 0
FIRST SEC CORP DEL COM 336294103 2909 122162 SH SOLE 122162 0 0
FIRST TENN NATL CORP COM 337162101 1208 37600 SH SOLE 37600 0 0
FIRST UN CORP COM 337358105 20038 353093 SH SOLE 353093 0 0
FIRST VA BANKS INC COM 337477103 533 9500 SH SOLE 9500 0 0
FIRSTAR CORP COM 33761C103 3697 93600 SH SOLE 93600 0 0
FISERV INC COM 337738108 976 15400 SH SOLE 15400 0 0
FIRSTMERIT CORP COM 337915102 376 11200 SH SOLE 11200 0 0
FIRSTENERGY CORP COM 337932107 4136 134232 SH SOLE 134232 0 0
FLEET FINL GROUP INC NEW COM 338915101 13256 155833 SH SOLE 155833 0 0
FLORIDA PROGRESS CORP COM 341109106 2333 55955 SH SOLE 55955 0 0
FLOWERS INDS INC COM 343496105 1057 45100 SH SOLE 45100 0 0
FLUOR CORP COM 343861100 2544 51140 SH SOLE 51140 0 0
FOOD LION INC CL B 344775101 2516 229400 SH SOLE 229400 0 0
FORD MTR CO DEL COM 345370100 48180 743371 SH SOLE 743371 0 0
<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
FORE SYSTEMS INC COM 345449102 767 48700 SH SOLE 48700 0 0
FOREST LABS INC CL A 345838106 1868 49800 SH SOLE 49800 0 0
FORT JAMES CORP COM 347471104 4048 88354 SH SOLE 88354 0 0
FORTUNE BRANDS INC COM 349631101 4421 110872 SH SOLE 110872 0 0
FOSTER WHEELER CORP COM 350244109 859 28100 SH SOLE 28100 0 0
FOUNDATION HEALTH SYS INC COM 350404109 1961 71140 SH SOLE 71140 0 0
FRANKLIN RES INC COM 354613101 5597 105600 SH SOLE 105600 0 0
FREEPORT-MCMORAN COPPER & GOLD CL B 35671D857 2107 105668 SH SOLE 105668 0 0
FRONTIER CORPORATION COM 35906P105 3600 110561 SH SOLE 110561 0 0
FRUIT OF THE LOOM INC CL A 359416104 1216 39700 SH SOLE 39700 0 0
GATX CORP COM 361448103 569 7300 SH SOLE 7300 0 0
GPU INC COM 36225X100 4071 92000 SH SOLE 92000 0 0
GTE CORP COM 362320103 34287 572642 SH SOLE 572642 0 0
GANNETT INC COM 364730101 12598 175282 SH SOLE 175282 0 0
GAP INC DEL COM 364760108 8453 187850 SH SOLE 187850 0 0
GARTNER GROUP INC NEW COM 366651107 553 14800 SH SOLE 14800 0 0
GATEWAY 2000 INC COM 367833100 1094 23300 SH SOLE 23300 0 0
GAYLORD ENTMT CO NEW COM 367905106 590 16490 SH SOLE 16490 0 0
GENCORP INC COM 368682100 234 7600 SH SOLE 7600 0 0
GENERAL DYNAMICS CORP COM 369550108 2907 33756 SH SOLE 33756 0 0
GENERAL ELEC CO COM 369604103 171318 1987740 SH SOLE 1987740 0 0
GENERAL INSTR CORP DEL COM 370120107 1478 70600 SH SOLE 70600 0 0
GENERAL MLS INC COM 370334104 7243 95308 SH SOLE 95308 0 0
GENERAL MTRS CORP COM 370442105 30286 449100 SH SOLE 449100 0 0
GENERAL MTRS CORP CL H NEW 370442832 2900 64098 SH SOLE 64098 0 0
GENERAL NUTRITION COS INC COM 37047F103 2278 57300 SH SOLE 57300 0 0
GENERAL RE CORP COM 370563108 10568 47899 SH SOLE 47899 0 0
GENERAL SEMICONDUCTOR INC COM 370787103 237 19875 SH SOLE 19875 0 0
GENERAL SIGNAL CORP COM 370838104 1492 31916 SH SOLE 31916 0 0
GENESIS HEALTH VENTURES INC COM 371912106 720 25605 SH SOLE 25605 0 0
GENUINE PARTS CO COM 372460105 4262 111800 SH SOLE 111800 0 0
GENZYME CORP COM GENL DIV 372917104 1658 51800 SH SOLE 51800 0 0
GEORGIA PAC CORP COM GA PAC GRP 373298108 4522 69843 SH SOLE 69843 0 0
GEORGIA PAC CORP COM-TIMBER GRP 373298702 1535 59743 SH SOLE 59743 0 0
GIANT FOOD INC CL A 374478105 1630 42200 SH SOLE 42200 0 0
GILLETTE CO COM 375766102 40638 342393 SH SOLE 342393 0 0
GLOBAL MARINE INC COM 379352404 1433 57900 SH SOLE 57900 0 0
GOLDEN ST BANCORP INC COM 381197102 1165 30500 SH SOLE 30500 0 0
GOLDEN WEST FINL CORP DEL COM 381317106 3018 31500 SH SOLE 31500 0 0
GOODRICH B F CO COM 382388106 2067 40480 SH SOLE 40480 0 0
GOODYEAR TIRE & RUBR CO COM 382550101 7234 95492 SH SOLE 95492 0 0
GRACE W R & CO DEL COM 383911104 3871 46251 SH SOLE 46251 0 0
GRAINGER W W INC COM 384802104 2622 25500 SH SOLE 25500 0 0
GREAT LAKES CHEM CORP COM 390568103 2214 41000 SH SOLE 41000 0 0
GREEN TREE FINL CORP COM 393505102 2383 83800 SH SOLE 83800 0 0
GREENPOINT FINL CORP COM 395384100 2059 57300 SH SOLE 57300 0 0
GTECH HLDGS CORP COM 400518106 478 12300 SH SOLE 12300 0 0
GUIDANT CORP COM 401698105 6770 92262 SH SOLE 92262 0 0
GULFSTREAM AEROSPACE CORP COM 402734107 1228 28300 SH SOLE 28300 0 0
HBO & CO COM 404100109 7758 128500 SH SOLE 128500 0 0
<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
HALLIBURTON CO COM 406216101 8251 164400 SH SOLE 164400 0 0
HANNAFORD BROS CO COM 410550107 413 9300 SH SOLE 9300 0 0
HARCOURT GEN INC COM 41163G101 1916 34595 SH SOLE 34595 0 0
HARLEY DAVIDSON INC COM 412822108 3264 98900 SH SOLE 98900 0 0
HARNISCHFEGER INDS INC COM 413345109 485 14200 SH SOLE 14200 0 0
HARRAHS ENTMT INC COM 413619107 1616 65793 SH SOLE 65793 0 0
HARRIS CORP DEL COM 413875105 3226 61889 SH SOLE 61889 0 0
HARSCO CORP COM 415864107 2148 46754 SH SOLE 46754 0 0
HARTE-HANKS COMMUNICATIONS NEW COM 416196103 257 10800 SH SOLE 10800 0 0
HARTFORD FINL SVCS GROUP INC COM 416515104 7577 69838 SH SOLE 69838 0 0
HASBRO INC COM 418056107 2950 83537 SH SOLE 83537 0 0
HEALTHSOUTH CORP COM 421924101 6847 244000 SH SOLE 244000 0 0
HEALTH MGMT ASSOC INC NEW CL A 421933102 2869 100224 SH SOLE 100224 0 0
HEALTH CARE & RETIREMENT DEL COM 421937103 507 11800 SH SOLE 11800 0 0
HEALTH & RETIREMENT PPTYS TR COM SH BEN INT 422169102 578 28700 SH SOLE 28700 0 0
HEINZ H J CO COM 423074103 12650 216700 SH SOLE 216700 0 0
HELMERICH & PAYNE INC COM 423452101 853 27300 SH SOLE 27300 0 0
HERCULES INC COM 427056106 3441 69691 SH SOLE 69691 0 0
HERSHEY FOODS CORP COM 427866108 4197 58600 SH SOLE 58600 0 0
HERTZ CORP CL A 428040109 685 14900 SH SOLE 14900 0 0
HEWLETT PACKARD CO COM 428236103 31420 495782 SH SOLE 495782 0 0
HIBERNIA CORP CL A 428656102 773 37600 SH SOLE 37600 0 0
HILLENBRAND INDS INC COM 431573104 2216 36000 SH SOLE 36000 0 0
HILTON HOTELS CORP COM 432848109 3799 119200 SH SOLE 119200 0 0
HOME DEPOT INC COM 437076102 29987 444666 SH SOLE 444666 0 0
HOMESTAKE MNG CO COM 437614100 1071 98440 SH SOLE 98440 0 0
HON INDS INC COM 438092108 1029 28000 SH SOLE 28000 0 0
HONEYWELL INC COM 438506107 6458 78100 SH SOLE 78100 0 0
HORACE MANN EDUCATORS CORP NEW COM 440327104 313 8900 SH SOLE 8900 0 0
HORMEL FOODS CORP COM 440452100 349 9000 SH SOLE 9000 0 0
HOST MARRIOTT CORP COM 441078102 2092 110467 SH SOLE 110467 0 0
HOUSEHOLD INTL INC COM 441815107 8951 64980 SH SOLE 64980 0 0
HOUSTON INDS INC COM 442161105 5008 174180 SH SOLE 174180 0 0
HUBBELL INC CL B 443510201 2361 46874 SH SOLE 46874 0 0
HUMANA INC COM 444859102 2588 104300 SH SOLE 104300 0 0
HUNTINGTON BANCSHARES INC COM 446150104 4438 121789 SH SOLE 121789 0 0
HUSSMANN INTL INC COM 448110106 676 36050 SH SOLE 36050 0 0
IBP INC COM 449223106 1553 69200 SH SOLE 69200 0 0
IMC GLOBAL INC COM 449669100 2088 54856 SH SOLE 54856 0 0
ITT INDS INC IND COM 450911102 3643 95703 SH SOLE 95703 0 0
IDAHO POWER CO COM 451380109 317 8400 SH SOLE 8400 0 0
IKON OFFICE SOLUTIONS INC COM 451713101 2897 83830 SH SOLE 83830 0 0
ILLINOIS TOOL WKS INC COM 452308109 8042 124200 SH SOLE 124200 0 0
ILLINOVA CORP COM 452317100 1396 46259 SH SOLE 46259 0 0
IMMUNEX CORP NEW COM 452528102 694 10300 SH SOLE 10300 0 0
INFORMIX CORP COM 456779107 816 95986 SH SOLE 95986 0 0
INGERSOLL RAND CO COM 456866102 5118 106770 SH SOLE 106770 0 0
INGRAM MICRO INC CL A 457153104 520 14000 SH SOLE 14000 0 0
INLAND STL INDS INC COM 457472108 906 32800 SH SOLE 32800 0 0
INTEL CORP COM 458140100 77379 991240 SH SOLE 991240 0 0
<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
INTERNATIONAL BUSINESS MACHS COM 459200101 61124 588440 SH SOLE 588440 0 0
INTERNATIONAL FLAVORS&FRAGRANC COM 459506101 3179 67450 SH SOLE 67450 0 0
INTERNATIONAL GAME TECHNOLOGY COM 459902102 1655 66200 SH SOLE 66200 0 0
INTL PAPER CO COM 460146103 8284 176955 SH SOLE 176955 0 0
INTERPUBLIC GROUP COS INC COM 460690100 5289 85137 SH SOLE 85137 0 0
INTERSTATE BAKERIES CORP DEL COM 46072H108 1044 32300 SH SOLE 32300 0 0
INTIMATE BRANDS INC CL A 461156101 327 12100 SH SOLE 12100 0 0
INTUIT COM 461202103 1296 26800 SH SOLE 26800 0 0
IOMEGA CORP COM 462030107 973 141500 SH SOLE 141500 0 0
IPALCO ENTERPRISES INC COM 462613100 1724 38250 SH SOLE 38250 0 0
IVAX CORP COM 465823102 650 74262 SH SOLE 74262 0 0
JEFFERSON PILOT CORP COM 475070108 4188 47087 SH SOLE 47087 0 0
JEFFERSON SMURFIT CORP NEW COM 475087102 195 11500 SH SOLE 11500 0 0
JOHNS MANVILLE CORP NEW COM 478129109 246 19450 SH SOLE 19450 0 0
JOHNSON & JOHNSON COM 478160104 59838 816200 SH SOLE 816200 0 0
JOHNSON CTLS INC COM 478366107 3453 56900 SH SOLE 56900 0 0
JONES APPAREL GROUP INC COM 480074103 562 10200 SH SOLE 10200 0 0
KLA-TENCORP CORP COM 482480100 1802 47100 SH SOLE 47100 0 0
K MART CORP COM 482584109 5176 310200 SH SOLE 310200 0 0
KN ENERGY INC COM 482620101 461 7800 SH SOLE 7800 0 0
KU ENERGY CORP COM 482734100 317 7400 SH SOLE 7400 0 0
KANSAS CITY PWR & LT CO COM 485134100 1380 43800 SH SOLE 43800 0 0
KANSAS CITY SOUTHN INDS INC COM 485170104 3161 71832 SH SOLE 71832 0 0
KEANE INC COM 486665102 2684 47500 SH SOLE 47500 0 0
KELLOGG CO COM 487836108 5703 132246 SH SOLE 132246 0 0
KERR MCGEE CORP COM 492386107 2456 35300 SH SOLE 35300 0 0
KEYCORP NEW COM 493267108 10664 282030 SH SOLE 282030 0 0
KEYSPAN ENERGY CORP COM 493375109 530 14600 SH SOLE 14600 0 0
KIMBERLY CLARK CORP COM 494368103 16218 323560 SH SOLE 323560 0 0
KIMCO REALTY CORP COM 49446R109 502 14200 SH SOLE 14200 0 0
KING WORLD PRODTNS INC COM 495667107 1024 35004 SH SOLE 35004 0 0
KNIGHT RIDDER INC COM 499040103 3790 67829 SH SOLE 67829 0 0
KOHLS CORP COM 500255104 3646 44600 SH SOLE 44600 0 0
KOMAG INC COM 500453105 270 18600 SH SOLE 18600 0 0
KROGER CO COM 501044101 7179 155428 SH SOLE 155428 0 0
LCI INTL INC COM 501813109 2125 55200 SH SOLE 55200 0 0
LG&E ENERGY CORP COM 501917108 330 12800 SH SOLE 12800 0 0
LTV CORP NEW COM 501921100 403 30700 SH SOLE 30700 0 0
LSI LOGIC CORP COM 502161102 2166 85800 SH SOLE 85800 0 0
LA QUINTA INNS INC COM 504195108 372 17700 SH SOLE 17700 0 0
LAFARGE CORP COM 505862102 837 21800 SH SOLE 21800 0 0
LAM RESH CORP COM 512807108 391 13900 SH SOLE 13900 0 0
LANCASTER COLONY CORP COM 513847103 320 7550 SH SOLE 7550 0 0
LATTICE SEMICONDUCTOR CORP COM 518415104 592 11500 SH SOLE 11500 0 0
LAUDER ESTEE COS INC CL A 518439104 692 10200 SH SOLE 10200 0 0
LEAR CORP COM 521865105 1088 19300 SH SOLE 19300 0 0
LEE ENTERPRISES INC COM 523768109 312 9300 SH SOLE 9300 0 0
LEGGETT & PLATT INC COM 524660107 3297 64100 SH SOLE 64100 0 0
LEHMAN BROS HLDGS INC COM 524908100 5368 71690 SH SOLE 71690 0 0
LEUCADIA NATL CORP COM 527288104 409 10400 SH SOLE 10400 0 0
<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
LEXMARK INTL GROUP INC CL A 529771107 1232 27300 SH SOLE 27300 0 0
LILLY ELI & CO COM 532457108 33432 560706 SH SOLE 560706 0 0
LIMITED INC COM 532716107 3878 135193 SH SOLE 135193 0 0
LINCARE HLDGS INC COM 532791100 1483 21000 SH SOLE 21000 0 0
LINCOLN NATL CORP IND COM 534187109 5678 66904 SH SOLE 66904 0 0
LINEAR TECHNOLOGY CORP COM 535678106 3340 48400 SH SOLE 48400 0 0
LITTON INDS INC COM 538021106 1512 26218 SH SOLE 26218 0 0
LIZ CLAIBORNE INC COM 539320101 2181 43720 SH SOLE 43720 0 0
LOCKHEED MARTIN CORP COM 539830109 11875 105560 SH SOLE 105560 0 0
LOEWS CORP COM 540424108 4386 42068 SH SOLE 42068 0 0
LONG ISLAND LTG CO COM 542671102 2517 79900 SH SOLE 79900 0 0
LONGS DRUG STORES CORP COM 543162101 250 8200 SH SOLE 8200 0 0
LOUISIANA PAC CORP COM 546347105 1679 72200 SH SOLE 72200 0 0
LOWES COS INC COM 548661107 6527 93000 SH SOLE 93000 0 0
LUBRIZOL CORP COM 549271104 1944 50493 SH SOLE 50493 0 0
LUCENT TECHNOLOGIES INC COM 549463107 50218 392712 SH SOLE 392712 0 0
LYONDELL PETROCHEMICAL CO COM 552078107 1093 32100 SH SOLE 32100 0 0
MBIA INC COM 55262C100 4619 59600 SH SOLE 59600 0 0
MBNA CORP COM 55262L100 9790 273380 SH SOLE 273380 0 0
MCN ENERGY GROUP INC COM 55267J100 841 22500 SH SOLE 22500 0 0
MCI COMMUNICATIONS CORP COM 552673105 17043 344303 SH SOLE 344303 0 0
MGIC INVT CORP WIS COM 552848103 4851 73854 SH SOLE 73854 0 0
MGM GRAND INC COM 552953101 219 6400 SH SOLE 6400 0 0
MALLINCKRODT INC NEW COM 561232109 2153 54500 SH SOLE 54500 0 0
MANOR CARE INC COM 564054104 507 13700 SH SOLE 13700 0 0
MANPOWER INC COM 56418H100 2108 52200 SH SOLE 52200 0 0
MARK IV INDS INC COM 570387100 353 15500 SH SOLE 15500 0 0
MARSH & MCLENNAN COS INC COM 571748102 8781 100572 SH SOLE 100572 0 0
MARSHALL & ILSLEY CORP COM 571834100 3964 68200 SH SOLE 68200 0 0
MARTIN MARIETTA MATLS INC COM 573284106 1487 34437 SH SOLE 34437 0 0
MASCO CORP COM 574599106 6424 107973 SH SOLE 107973 0 0
MATTEL INC COM 577081102 7168 180888 SH SOLE 180888 0 0
MAXIM INTEGRATED PRODS INC COM 57772K101 2762 75800 SH SOLE 75800 0 0
MAY DEPT STORES CO COM 577778103 8855 139446 SH SOLE 139446 0 0
MAYTAG CORP COM 578592107 2902 60700 SH SOLE 60700 0 0
MCCORMICK & CO INC COM NON VTG 579780206 1571 48700 SH SOLE 48700 0 0
MCDONALDS CORP COM 580135101 24496 408267 SH SOLE 408267 0 0
MCGRAW HILL COS INC COM 580645109 4868 64000 SH SOLE 64000 0 0
MCKESSON CORP NEW COM 581557105 2755 47700 SH SOLE 47700 0 0
MEAD CORP COM 582834107 2645 73844 SH SOLE 73844 0 0
MEDITRUST CORP PAIRED CTF NEW 58501T306 419 13578 SH SOLE 13578 0 0
MEDPARTNERS INC NEW COM 58503X107 1000 97521 SH SOLE 97521 0 0
MEDTRONIC INC COM 585055106 15049 290100 SH SOLE 290100 0 0
MELLON BK CORP COM 585509102 10332 162714 SH SOLE 162714 0 0
MERCANTILE BANCORPORATION INC COM 587342106 2106 38425 SH SOLE 38425 0 0
MERCANTILE BANKSHARES CORP COM 587405101 2041 56400 SH SOLE 56400 0 0
MERCANTILE STORES INC COM 587533100 1099 16350 SH SOLE 16350 0 0
MERCK & CO INC COM 589331107 93740 730204 SH SOLE 730204 0 0
MERCURY GENL CORP NEW COM 589400100 500 8000 SH SOLE 8000 0 0
MEREDITH CORP COM 589433101 1407 33400 SH SOLE 33400 0 0
<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
MERITOR AUTOMOTIVE INC COM 59000G100 968 36448 SH SOLE 36448 0 0
MERRILL LYNCH & CO INC COM 590188108 16575 199700 SH SOLE 199700 0 0
MEYER FRED INC DEL NEW COM 592907109 1949 42200 SH SOLE 42200 0 0
MICROSOFT CORP COM 594918104 80449 898868 SH SOLE 898868 0 0
MICROCHIP TECHNOLOGY INC COM 595017104 676 32194 SH SOLE 32194 0 0
MICRON ELECTRONICS INC COM 595100108 242 19100 SH SOLE 19100 0 0
MICRON TECHNOLOGY INC COM 595112103 2966 102072 SH SOLE 102072 0 0
MIDAS GROUP INC COM 595626102 248 12016 SH SOLE 12016 0 0
MIDAMERICA ENERGY HLDGS CO COM 595920109 1683 74200 SH SOLE 74200 0 0
MILLENNIUM CHEMICALS INC COM 599903101 764 22800 SH SOLE 22800 0 0
MILLER HERMAN INC COM 600544100 1864 55600 SH SOLE 55600 0 0
MILLIPORE CORP COM 601073109 1074 30900 SH SOLE 30900 0 0
MINNESOTA MNG & MFG CO COM 604059105 21723 238219 SH SOLE 238219 0 0
MIRAGE RESORTS INC COM 60462E104 2735 112500 SH SOLE 112500 0 0
MITCHELL ENERGY & DEV CORP CL A 606592202 651 24490 SH SOLE 24490 0 0
MOBIL CORP COM 607059102 37710 492138 SH SOLE 492138 0 0
MOLEX INC COM 608554101 815 29638 SH SOLE 29638 0 0
MONEY STORE INC COM 60934T101 843 26400 SH SOLE 26400 0 0
MONSANTO CO COM 611662107 18439 354590 SH SOLE 354590 0 0
MONTANA POWER CO COM 612085100 1518 42100 SH SOLE 42100 0 0
MORGAN J P & CO INC COM 616880100 14388 107125 SH SOLE 107125 0 0
MORGAN STANLEY DEAN WITTR DISC COM NEW 617446448 19707 270425 SH SOLE 270425 0 0
MORTON INTL INC IND NEW COM 619335102 2728 83129 SH SOLE 83129 0 0
MOTOROLA INC COM 620076109 22012 363080 SH SOLE 363080 0 0
MURPHY OIL CORP COM 626717102 1624 32400 SH SOLE 32400 0 0
MYLAN LABS INC COM 628530107 1788 77750 SH SOLE 77750 0 0
NCR CORP NEW COM 62886E108 2239 67724 SH SOLE 67724 0 0
NGC CORP COM 629121104 1144 78200 SH SOLE 78200 0 0
NIPSCO INDS INC COM 629140104 2435 86970 SH SOLE 86970 0 0
NABISCO HLDGS CORP CL A 629526104 727 15500 SH SOLE 15500 0 0
NABORS INDS INC COM 629568106 1703 71900 SH SOLE 71900 0 0
NALCO CHEM CO COM 629853102 2442 60194 SH SOLE 60194 0 0
NATIONAL CITY CORP COM 635405103 9992 136300 SH SOLE 136300 0 0
NATIONAL COMM BANCORP COM 635449101 418 9800 SH SOLE 9800 0 0
NATIONAL DATA CORP COM 635621105 719 17300 SH SOLE 17300 0 0
NATIONAL FUEL GAS CO N J COM 636180101 498 10600 SH SOLE 10600 0 0
NATIONAL SEMICONDUCTOR CORP COM 637640103 2309 110300 SH SOLE 110300 0 0
NATIONAL SVC INDS INC COM 637657107 2020 34350 SH SOLE 34350 0 0
NATIONSBANK CORP COM 638585109 41668 571290 SH SOLE 571290 0 0
NAVISTAR INTL CORP NEW COM 63934E108 1747 49926 SH SOLE 49926 0 0
NEIMAN MARCUS GROUP INC COM 640204103 735 17900 SH SOLE 17900 0 0
NETWORKS ASSOCS INC COM 640938106 2084 31462 SH SOLE 31462 0 0
NETSCAPE COMMUNICATIONS CORP COM 641149109 649 35667 SH SOLE 35667 0 0
NEW CENTURY ENERGIES INC COM 64352U103 3305 65608 SH SOLE 65608 0 0
NEW ENGLAND ELEC SYS COM 644001109 2111 46200 SH SOLE 46200 0 0
NEW PLAN RLTY TR SH BEN INT 648059103 427 17000 SH SOLE 17000 0 0
NEW YORK ST ELEC & GAS CORP COM 649840105 1862 46700 SH SOLE 46700 0 0
NEW YORK TIMES CO CL A 650111107 3311 47300 SH SOLE 47300 0 0
NEWELL CO COM 651192106 4802 99130 SH SOLE 99130 0 0
NEWMONT MINING CORP COM 651639106 2897 94784 SH SOLE 94784 0 0
<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
NEXTEL COMMUNICATIONS INC CL A 65332V103 4438 131500 SH SOLE 131500 0 0
NIAGARA MOHAWK PWR CORP COM 653522102 1226 94300 SH SOLE 94300 0 0
NICOR INC COM 654086107 1584 37500 SH SOLE 37500 0 0
NIKE INC CL B 654106103 3424 77372 SH SOLE 77372 0 0
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NORTHWEST AIRLS CORP CL A 667280101 2702 43800 SH SOLE 43800 0 0
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NUCOR CORP COM 670346105 2909 53436 SH SOLE 53436 0 0
OGE ENERGY CORP COM 670837103 1777 30700 SH SOLE 30700 0 0
OCCIDENTAL PETE CORP DEL COM 674599105 6413 218787 SH SOLE 218787 0 0
OFFICEMAX INC COM 67622M108 654 36600 SH SOLE 36600 0 0
OFFICE DEPOT INC COM 676220106 3153 101300 SH SOLE 101300 0 0
OHIO CAS CORP COM 677240103 1886 39300 SH SOLE 39300 0 0
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OMNICARE INC COM 681904108 2195 55400 SH SOLE 55400 0 0
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OXFORD HEALTH PLANS INC COM 691471106 774 51800 SH SOLE 51800 0 0
PECO ENERGY CO COM 693304107 2914 131700 SH SOLE 131700 0 0
PG&E CORP COM 69331C108 7959 241191 SH SOLE 241191 0 0
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PACIFICORP COM 695114108 4452 180792 SH SOLE 180792 0 0
PAINE WEBBER GROUP INC COM 695629105 2752 68575 SH SOLE 68575 0 0
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PALL CORP COM 696429307 1785 83010 SH SOLE 83010 0 0
<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
PANAMSAT CORP NEW COM 697933109 444 7300 SH SOLE 7300 0 0
PARAMETRIC TECHNOLOGY CORP COM 699173100 5113 153500 SH SOLE 153500 0 0
PARKER HANNIFIN CORP COM 701094104 3663 71475 SH SOLE 71475 0 0
PAYCHEX INC COM 704326107 2111 36600 SH SOLE 36600 0 0
PAYLESS SHOESOURCE INC COM 704379106 1968 26155 SH SOLE 26155 0 0
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PETSMART INC COM 716768106 508 47500 SH SOLE 47500 0 0
PHARMACIA & UPJOHN INC COM 716941109 13472 307936 SH SOLE 307936 0 0
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PHELPS DODGE CORP COM 717265102 2183 33810 SH SOLE 33810 0 0
PHILIP MORRIS COS INC COM 718154107 60829 1459169 SH SOLE 1459169 0 0
PHILLIPS PETE CO COM 718507106 6638 132923 SH SOLE 132923 0 0
PHYCOR INC COM 71940F100 1013 44900 SH SOLE 44900 0 0
PINNACLE WEST CAP CORP COM 723484101 2573 57904 SH SOLE 57904 0 0
PIONEER HI BRED INTL INC COM 723686101 4010 41100 SH SOLE 41100 0 0
PIONEER NAT RES CO COM 723787107 908 36500 SH SOLE 36500 0 0
PITNEY BOWES INC COM 724479100 8672 172802 SH SOLE 172802 0 0
PITTSTON CO COM BRINKS GRP 725701106 1195 31342 SH SOLE 31342 0 0
POGO PRODUCING CO COM 730448107 308 9700 SH SOLE 9700 0 0
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PREMARK INTL INC COM 740459102 1547 46700 SH SOLE 46700 0 0
PRICE T ROWE & ASSOCIATES COM 741477103 2329 33092 SH SOLE 33092 0 0
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PROTECTIVE LIFE CORP COM 743674103 1781 24400 SH SOLE 24400 0 0
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PROVIDIAN FINL CORP COM 74406A102 3215 55969 SH SOLE 55969 0 0
PUBLIC SVC ENTERPRISE GROUP COM 744573106 5446 143800 SH SOLE 143800 0 0
PUBLIC STORAGE INC COM 74460D109 707 22900 SH SOLE 22900 0 0
PUGET SOUND ENERGY INC COM 745332106 541 19200 SH SOLE 19200 0 0
QUAKER OATS CO COM 747402105 4986 87100 SH SOLE 87100 0 0
QUALCOMM INC COM 747525103 1999 37370 SH SOLE 37370 0 0
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<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
QUESTAR CORP COM 748356102 1234 29700 SH SOLE 29700 0 0
QUINTILES TRANSNATIONAL CORP COM 748767100 1860 38600 SH SOLE 38600 0 0
QUORUM HEALTH GROUP INC COM 749084109 731 21750 SH SOLE 21750 0 0
R & B FALCON CORP 74912E101 3178 107268 SH SOLE 107268 0 0
RJR NABISCO HOLDINGS CORP COM NEW 74960K876 6369 203398 SH SOLE 203398 0 0
RPM INC OHIO COM 749685103 1313 73712 SH SOLE 73712 0 0
RALSTON PURINA CO COM RAL-PUR GP 751277302 6787 64028 SH SOLE 64028 0 0
RAYCHEM CORP DEL COM 754603108 2240 53900 SH SOLE 53900 0 0
RAYONIER INC COM 754907103 969 21220 SH SOLE 21220 0 0
RAYTHEON CO CL A 755111309 420 7388 SH SOLE 7388 0 0
RAYTHEON CO CL B 755111408 8488 145401 SH SOLE 145401 0 0
READERS DIGEST ASSN INC CL A NON VTG 755267101 1597 58476 SH SOLE 58476 0 0
READERS DIGEST ASSN INC CL B 755267200 226 8400 SH SOLE 8400 0 0
REEBOK INTL LTD COM 758110100 1165 38200 SH SOLE 38200 0 0
REGAL CINEMAS INC COM 758754105 534 17800 SH SOLE 17800 0 0
REGIONS FINL CORP COM 758940100 4135 98600 SH SOLE 98600 0 0
RELIANCE GROUP HOLDINGS INC COM 759464100 1392 72800 SH SOLE 72800 0 0
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REPUBLIC N Y CORP COM 760719104 5055 37900 SH SOLE 37900 0 0
REYNOLDS & REYNOLDS CO CL A 761695105 411 18800 SH SOLE 18800 0 0
REYNOLDS METALS CO COM 761763101 2681 43637 SH SOLE 43637 0 0
RITE AID CORP COM 767754104 5161 150700 SH SOLE 150700 0 0
ROBERT HALF INTL INC COM 770323103 2988 62250 SH SOLE 62250 0 0
ROCHESTER GAS & ELEC CORP COM 771367109 1485 45700 SH SOLE 45700 0 0
ROCKWELL INTL CORP NEW COM 773903109 5402 94148 SH SOLE 94148 0 0
ROHM & HAAS CO COM 775371107 3244 31400 SH SOLE 31400 0 0
ROSS STORES INC COM 778296103 1399 31700 SH SOLE 31700 0 0
ROUSE CO COM 779273101 1874 59500 SH SOLE 59500 0 0
ROWAN COS INC COM 779382100 1508 52000 SH SOLE 52000 0 0
RUBBERMAID INC COM 781088109 2707 94978 SH SOLE 94978 0 0
RUSSELL CORP COM 782352108 753 28100 SH SOLE 28100 0 0
RYDER SYS INC COM 783549108 2310 60791 SH SOLE 60791 0 0
SBC COMMUNICATIONS INC COM 78387G103 48344 1108176 SH SOLE 1108176 0 0
SCI SYS INC COM 783890106 1404 39400 SH SOLE 39400 0 0
SLM HLDG CORP COM 78442A109 4734 108513 SH SOLE 108513 0 0
SAFECO CORP COM 786429100 4383 80200 SH SOLE 80200 0 0
SAFEWAY INC COM NEW 786514208 10512 284600 SH SOLE 284600 0 0
ST JUDE MED INC COM 790849103 442 13215 SH SOLE 13215 0 0
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SAKS HLDGS INC COM 79377R109 535 21400 SH SOLE 21400 0 0
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SCHERER R P CORP DEL COM 806528105 790 11700 SH SOLE 11700 0 0
SCHERING PLOUGH CORP COM 806605101 36554 447482 SH SOLE 447482 0 0
SCHWAB CHARLES CORP NEW COM 808513105 4456 117250 SH SOLE 117250 0 0
SCIENTIFIC ATLANTA INC COM 808655104 947 48400 SH SOLE 48400 0 0
SCRIPPS E W CO OHIO CL A 811054204 1298 23470 SH SOLE 23470 0 0
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<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
SEAGULL ENERGY CORP COM 812007102 771 40200 SH SOLE 40200 0 0
SEALED AIR CORP COM 812115103 766 11700 SH SOLE 11700 0 0
SEARS ROEBUCK & CO COM 812387108 13324 231976 SH SOLE 231976 0 0
SECURITY CAP INDL TR SH BEN INT 814138103 392 15300 SH SOLE 15300 0 0
SECURITY CAP PAC TR SH BEN INT 814141107 363 15100 SH SOLE 15100 0 0
SECURITY DYNAMICS TECHNOLOGIES COM 814208104 1016 24700 SH SOLE 24700 0 0
SENSORMATIC ELECTRS CORP COM 817265101 854 52124 SH SOLE 52124 0 0
SERVICE CORP INTL COM 817565104 6807 160400 SH SOLE 160400 0 0
SHARED MED SYS CORP COM 819486101 603 7700 SH SOLE 7700 0 0
SHAW INDS INC COM 820286102 1275 86800 SH SOLE 86800 0 0
SHERWIN WILLIAMS CO COM 824348106 3250 91548 SH SOLE 91548 0 0
SIGMA ALDRICH CORP COM 826552101 2416 64860 SH SOLE 64860 0 0
SILICON GRAPHICS INC COM 827056102 1616 115962 SH SOLE 115962 0 0
SIMON DEBARTOLO GROUP INC COM 828781104 1924 56161 SH SOLE 56161 0 0
SMITH INTL INC COM 832110100 1432 26000 SH SOLE 26000 0 0
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SOLECTRON CORP COM 834182107 2303 54500 SH SOLE 54500 0 0
SOLUTIA INC COM 834376105 2258 75898 SH SOLE 75898 0 0
SONAT INC COM 835415100 2288 52599 SH SOLE 52599 0 0
SONOCO PRODS CO COM 835495102 2619 65365 SH SOLE 65365 0 0
SOUTHERN CO COM 842587107 10933 394864 SH SOLE 394864 0 0
SOUTHERN NEW ENGLAND TELECOM COM 843485103 3598 49757 SH SOLE 49757 0 0
SOUTHLAND CORP COM NEW 844436402 301 144900 SH SOLE 144900 0 0
SOUTHTRUST CORP COM 844730101 4418 105500 SH SOLE 105500 0 0
SOUTHWEST AIRLS CO COM 844741108 3869 130885 SH SOLE 130885 0 0
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SPRINT CORP COM 852061100 17688 261317 SH SOLE 261317 0 0
STANLEY WKS COM 854616109 2480 44478 SH SOLE 44478 0 0
STAPLES INC COM 855030102 3687 159005 SH SOLE 159005 0 0
STAR BANC CORP COM 855083101 4056 68600 SH SOLE 68600 0 0
STARBUCKS CORP COM 855244109 2284 50400 SH SOLE 50400 0 0
STARWOOD HOTELS & RESORTS COMBND CTF NEW 855905204 414 7746 SH SOLE 7746 0 0
STATE STR CORP COM 857477103 7231 106234 SH SOLE 106234 0 0
STERIS CORP COM 859152100 1286 23824 SH SOLE 23824 0 0
STERLING COMM INC COM 859205106 2744 59171 SH SOLE 59171 0 0
STERLING SOFTWARE INC COM 859547101 1295 22920 SH SOLE 22920 0 0
STEWART ENTERPRISES INC CL A 860370105 756 13600 SH SOLE 13600 0 0
STONE CONTAINER CORP COM 861589109 730 58400 SH SOLE 58400 0 0
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STRYKER CORP COM 863667101 2325 49600 SH SOLE 49600 0 0
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SUN INC COM 866762107 1811 44300 SH SOLE 44300 0 0
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<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
SYBASE INC COM 871130100 507 52500 SH SOLE 52500 0 0
SYBRON INTL CORP COM 87114F106 737 28200 SH SOLE 28200 0 0
SYMBOL TECHNOLOGIES INC COM 871508107 482 9800 SH SOLE 9800 0 0
SYNOPSYS INC COM 871607107 652 19900 SH SOLE 19900 0 0
SYNOVUS FINL CORP COM 87161C105 1849 49800 SH SOLE 49800 0 0
SYSCO CORP COM 871829107 5404 210882 SH SOLE 210882 0 0
TCF FINL CORP COM 872275102 886 26100 SH SOLE 26100 0 0
TECO ENERGY INC COM 872375100 2407 85200 SH SOLE 85200 0 0
TIG HLDGS INC COM 872469101 1127 42822 SH SOLE 42822 0 0
TJX COS INC NEW COM 872540109 4625 102212 SH SOLE 102212 0 0
TRW INC COM 872649108 4793 86952 SH SOLE 86952 0 0
TANDY CORP COM 875382103 3097 65900 SH SOLE 65900 0 0
TECH DATA CORP COM 878237106 1036 26900 SH SOLE 26900 0 0
TECUMSEH PRODS CO CL A 878895200 879 16357 SH SOLE 16357 0 0
TEKTRONIX INC COM 879131100 654 14650 SH SOLE 14650 0 0
TELE COMMUNICATIONS INC NEW COM TCI GRP A 87924V101 9269 298094 SH SOLE 298094 0 0
TELE COMMUNICATIONS INC NEW COM LIB GRP A 87924V507 6923 201395 SH SOLE 201395 0 0
TELE COMMUNICATIONS INC NEW COM TCI VENT A 87924V887 473 26848 SH SOLE 26848 0 0
TELEFLEX INC COM 879369106 340 8100 SH SOLE 8100 0 0
TELEPHONE & DATA SYS INC COM 879433100 1705 35900 SH SOLE 35900 0 0
TELEPORT COMMUNICATIONS GROUP CL A 879463107 670 11400 SH SOLE 11400 0 0
TELLABS INC COM 879664100 6531 97300 SH SOLE 97300 0 0
TEMPLE INLAND INC COM 879868107 2217 35693 SH SOLE 35693 0 0
TENET HEALTHCARE CORP COM 88033G100 6784 186811 SH SOLE 186811 0 0
TENNECO INC NEW COM 88037E101 4664 109270 SH SOLE 109270 0 0
TERADYNE INC COM 880770102 2115 52802 SH SOLE 52802 0 0
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THIOKOL CORP DEL COM 884103102 1691 35000 SH SOLE 35000 0 0
THOMAS & BETTS CORP COM 884315102 2458 38400 SH SOLE 38400 0 0
3COM CORP COM 885535104 7624 212150 SH SOLE 212150 0 0
360 COMMUNICATIONS CO COM 885571109 2617 83738 SH SOLE 83738 0 0
TIDEWATER INC COM 886423102 1660 37900 SH SOLE 37900 0 0
TIFFANY & CO NEW COM 886547108 1086 22300 SH SOLE 22300 0 0
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TIMES MIRROR CO NEW COM SER A 887364107 2852 45000 SH SOLE 45000 0 0
TIMKEN CO COM 887389104 1243 36748 SH SOLE 36748 0 0
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TOSCO CORP COM NEW 891490302 3448 97804 SH SOLE 97804 0 0
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TRANSACTION SYS ARCHITECTS CL A 893416107 777 20000 SH SOLE 20000 0 0
TRANSAMERICA CORP COM 893485102 6155 52834 SH SOLE 52834 0 0
TRANSATLANTIC HLDGS INC COM 893521104 219 2900 SH SOLE 2900 0 0
TRANSOCEAN OFFSHORE INC COM 893817106 1939 37700 SH SOLE 37700 0 0
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TRAVELERS PPTY CAS CORP CL A 893939108 722 16400 SH SOLE 16400 0 0
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<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
TRICON GLOBAL RESTAURANTS COM 895953107 2870 95462 SH SOLE 95462 0 0
TRIBUNE CO NEW COM 896047107 4921 69800 SH SOLE 69800 0 0
TRINITY INDS INC COM 896522109 705 12850 SH SOLE 12850 0 0
TUPPERWARE CORP COM 899896104 900 33800 SH SOLE 33800 0 0
20TH CENTY INDS CAL COM PAR $10 901272203 379 14095 SH SOLE 14095 0 0
TYCO INTL LTD NEW COM 902124106 305 5592 SH SOLE 5592 0 0
TYSON FOODS INC CL A 902494103 1766 91742 SH SOLE 91742 0 0
UAL CORP COM PAR $0.01 902549500 3364 36200 SH SOLE 36200 0 0
UCAR INTL INC COM 90262K109 742 23660 SH SOLE 23660 0 0
UICI COM 902737105 695 20100 SH SOLE 20100 0 0
USX MARATHON GROUP COM NEW 902905827 7175 190709 SH SOLE 190709 0 0
UST INC COM 902911106 3794 117642 SH SOLE 117642 0 0
USA WASTE SVCS INC COM 902917103 5240 117596 SH SOLE 117596 0 0
US BANCORP DEL COM 902973106 18677 149716 SH SOLE 149716 0 0
USA NETWORKS INC COM 902984103 1728 63400 SH SOLE 63400 0 0
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USF&G CORP COM 903290104 2228 89350 SH SOLE 89350 0 0
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USX-U S STL COM 90337T101 2008 53200 SH SOLE 53200 0 0
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UNITED ASSET MGMT CORP COM 909420101 450 16500 SH SOLE 16500 0 0
UNITED DOMINION REALTY TR INC COM 910197102 600 41400 SH SOLE 41400 0 0
UNITED HEALTHCARE CORP COM 910581107 7260 112125 SH SOLE 112125 0 0
UNITED STATES CELLULAR CORP COM 911684108 679 20000 SH SOLE 20000 0 0
UNITED STATES FILTER CORP NEW COM NEW 911843209 1440 41000 SH SOLE 41000 0 0
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UNITED STATES SURGICAL CORP COM 912707106 1700 51500 SH SOLE 51500 0 0
U S WEST INC COM-COMMUNCTNS 912889102 13374 244267 SH SOLE 244267 0 0
U S WEST INC COM-MEDIA GRP 912889201 10237 294583 SH SOLE 294583 0 0
UNITED TECHNOLOGIES CORP COM 913017109 14570 157832 SH SOLE 157832 0 0
UNITRIN INC COM 913275103 1651 24500 SH SOLE 24500 0 0
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UNOCAL CORP COM 915289102 6585 170220 SH SOLE 170220 0 0
UNOVA INC COM 91529B106 614 30700 SH SOLE 30700 0 0
UTILICORP UTD INC COM 918005109 631 16000 SH SOLE 16000 0 0
V F CORP COM 918204108 3716 70700 SH SOLE 70700 0 0
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<PAGE> PAGE 20
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
VALASSIS COMMUNICATIONS INC COM 918866104 541 13200 SH SOLE 13200 0 0
VALERO ENERGY CORP NEW COM 91913Y100 1015 30400 SH SOLE 30400 0 0
VALLEY NATL BANCORP COM 919794107 1531 38391 SH SOLE 38391 0 0
VARIAN ASSOC INC COM 922204102 1107 19987 SH SOLE 19987 0 0
VASTAR RES INC COM 922380100 714 16440 SH SOLE 16440 0 0
VENCOR INC COM 922602107 683 22800 SH SOLE 22800 0 0
VIAD CORP COM 92552R109 2377 98000 SH SOLE 98000 0 0
VIACOM INC CL B 925524308 9954 185195 SH SOLE 185195 0 0
VIKING OFFICE PRODS COM 926913104 1360 58500 SH SOLE 58500 0 0
VISHAY INTERTECHNOLOGY INC COM 928298108 340 14455 SH SOLE 14455 0 0
VITESSE SEMICONDUCTOR CORP COM 928497106 986 20900 SH SOLE 20900 0 0
VLASIC FOODS INTL INC COM 928559103 398 15580 SH SOLE 15580 0 0
VORNADO RLTY TR SH BEN INT 929042109 1507 34600 SH SOLE 34600 0 0
VULCAN MATLS CO COM 929160109 2475 22600 SH SOLE 22600 0 0
WACHOVIA CORP COM 929771103 10619 125203 SH SOLE 125203 0 0
WAL MART STORES INC COM 931142103 42803 842367 SH SOLE 842367 0 0
WALGREEN CO COM 931422109 10927 310540 SH SOLE 310540 0 0
WALLACE COMPUTER SERVICES INC COM 932270101 443 12800 SH SOLE 12800 0 0
WARNACO GROUP INC CL A 934390105 620 15800 SH SOLE 15800 0 0
WARNER LAMBERT CO COM 934488107 28324 166306 SH SOLE 166306 0 0
WASHINGTON FED INC COM 938824109 692 24930 SH SOLE 24930 0 0
WASHINGTON MUT INC COM 939322103 10677 148880 SH SOLE 148880 0 0
WASHINGTON POST CO CL B 939640108 2872 5400 SH SOLE 5400 0 0
WASTE MGMT INC NEW COM 94106K101 8428 273525 SH SOLE 273525 0 0
WATSON PHARMACEUTICALS INC COM 942683103 1940 53900 SH SOLE 53900 0 0
WEATHERFORD ENTERRA INC COM 947071106 1574 37100 SH SOLE 37100 0 0
WEINGARTEN RLTY INVS SH BEN INT 948741103 309 6900 SH SOLE 6900 0 0
WELLPOINT HEALTH NETWORK NEW COM 94973H108 270 4000 SH SOLE 4000 0 0
WELLS FARGO & CO DEL COM 949740104 15263 46076 SH SOLE 46076 0 0
WENDYS INTL INC COM 950590109 1606 72000 SH SOLE 72000 0 0
WESCO FINL CORP COM 950817106 851 2330 SH SOLE 2330 0 0
WESTERN ATLAS INC COM 957674104 2074 26800 SH SOLE 26800 0 0
WESTERN DIGITAL CORP COM 958102105 919 52300 SH SOLE 52300 0 0
WESTERN RES INC COM 959425109 1937 45300 SH SOLE 45300 0 0
WESTPOINT STEVENS INC COM 961238102 1054 36810 SH SOLE 36810 0 0
WESTVACO CORP COM 961548104 2165 70405 SH SOLE 70405 0 0
WEYERHAEUSER CO COM 962166104 6927 122602 SH SOLE 122602 0 0
WHEELABRATOR TECH INC NEW COM PAR $0.01 962901302 908 55109 SH SOLE 55109 0 0
WHIRLPOOL CORP COM 963320106 3022 44075 SH SOLE 44075 0 0
WHITMAN CORP COM 96647K102 1436 72700 SH SOLE 72700 0 0
WILLAMETTE INDS INC COM 969133107 2731 72700 SH SOLE 72700 0 0
WILLIAMS COS INC DEL COM 969457100 8318 259939 SH SOLE 259939 0 0
WILMINGTON TRUST CORP COM 971807102 564 8500 SH SOLE 8500 0 0
WINN DIXIE STORES INC COM 974280109 2731 58900 SH SOLE 58900 0 0
WISCONSIN CENT TRANSN CORP COM 976592105 417 14800 SH SOLE 14800 0 0
WISCONSIN ENERGY CORP COM 976657106 2136 69600 SH SOLE 69600 0 0
WITCO CORP COM 977385103 1582 40177 SH SOLE 40177 0 0
WOLVERINE WORLD WIDE INC COM 978097103 859 30400 SH SOLE 30400 0 0
WOOLWORTH CORP COM 980883102 2228 89100 SH SOLE 89100 0 0
WORLDCOM INC GA COM 98155K102 17972 417350 SH SOLE 417350 0 0
<PAGE> PAGE 21
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
WORTHINGTON INDS INC COM 981811102 1099 60650 SH SOLE 60650 0 0
WRIGLEY WM JR CO COM 982526105 5257 64300 SH SOLE 64300 0 0
XILINX INC COM 983919101 1614 43100 SH SOLE 43100 0 0
XEROX CORP COM 984121103 22276 209290 SH SOLE 209290 0 0
YORK INTL CORP NEW COM 986670107 1292 28700 SH SOLE 28700 0 0
ZIONS BANCORPORATION COM 989701107 2573 48900 SH SOLE 48900 0 0
REPORT SUMMARY 956 DATA RECORDS 5518343 0 OTHER MANAGERS ON WHOSE BEHALF REPORT IS FILED
</TABLE>
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