UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F
FORM 13F COVER PAGE
Report for the Calendar Year or Quarter Ended March 31, 1999.
If amended report check here: [___]; Amendment Number: [___].
This Amendment (Check only one.) [___] is a restatement,
[___] adds new holdings entities.
Institutional Investment Manager Filing this Report:
Name: Sit Investment Associates, Inc.
Address: 4600 Norwest Center
90 South Seventh Street
Minneapolis, MN 55402-4130
13F file Number: 28-180
The institutional investment manager filing this report and the person
by whom it is signed hereby represent that the person signing the report
is authorized to submit it, that all information contained herein is
true, correct and complete, and that it is understood that all required
items, statements, schedules, lists, and table, are considered integral
parts of this form.
Person Signing this Report on Behalf of Reporting manager:
Name: Paul E. Rasmussen
Title Vice President
Phone 612-332-3223
___________________________, Minneapolis, Minnesota, May 11, 1999
Signature
Report Type (Check only one.):
[_X_] 13F Holdings Report.
[___] 13F Notice.
[___] 13F Combination Report.
List of other manager Reporting for this Manager: None
I am signing this report as required by the Securities Exchange Act of 1934.
<PAGE>
FORM 13F SUMMARY PAGE
Sit Investment Associates, Inc.
Report for the Quarter Ended March 31, 1999.
Report Summary:
Number of Other Included managers: 1
Form 13F Information Table Entry Total: 254
Form 13 F Information Table Value Total: $4,145,458
List of Other Included Manager:
13F
No. File No. Name
- ---- ------- -------------
1. Sit Investment Fixed Income Advisors, Inc.
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
NAME OF ISSUER TITLE OF CLASS CUSIP VALUE(K)SH/P AMTSH/P P/C INV DSC MANAGERSSOLE SHARED NONE
AAR CORP COMMON 000361105 2235 125500 SH SOLE 125500 0 0
A D C TELECOMMUNICATIONSCOMMON 000886101 41674 873900 SH SOLE 873900 0 0
AFLAC INC COMMON 001055102 21092 387447 SH SOLE 387447 0 0
AFLAC INC COMMON 001055102 267 4900 SH SOLE 4900 0 0
AEGON N V DEPOSITORY RECEI007924103 13732 152791 SH SOLE 152791 0 0
AEGON N V DEPOSITORY RECEI007924103 234 2600 SH SOLE 2600 0 0
AIRTOUCH COMMUNICATNS COMMON 00949T100 97562 1009700 SH SOLE 1009700 0 0
AMERICA ONLINE INC DEL COMMON 02364J104 20992 142800 SH SOLE 142800 0 0
AMERICAN HOME PRODS CORPCOMMON 026609107 30589 468800 SH SOLE 468800 0 0
AMERICAN INTL GROUP INC COMMON 026874107 34859 288987 SH SOLE 288987 0 0
AMGEN INC COMMON 031162100 35161 469600 SH SOLE 469600 0 0
ANADARKO PETE CORP COMMON 032511107 19630 520000 SH SOLE 520000 0 0
ANALOG DEVICES INC COMMON 032654105 20349 684000 SH SOLE 684000 0 0
ANNTAYLOR STORES CORP COMMON 036115103 442 10000 SH SOLE 10000 0 0
AON CORP COMMON 037389103 1170 18500 SH SOLE 18500 0 0
APPLIED GRAPHICS TECHNOLCOMMON 037937109 83 11000 SH SOLE 11000 0 0
APPLIED MICRO CIRCUITS CCOMMON 03822W109 11030 258000 SH SOLE 258000 0 0
ASCEND COMMUNICATIONS COMMON 043491109 48263 576700 SH SOLE 576700 0 0
ASPECT DEV INC COMMON 045234101 1748 75200 SH SOLE 75200 0 0
ASPEN TECHNOLOGIES INC COMMON 045327103 10080 710500 SH SOLE 710500 0 0
ASSOCIATES FIRST CAP CORCL A 046008108 14144 314300 SH SOLE 314300 0 0
ASYST TECHNOLOGY CORP COMMON 04648X107 2929 213000 SH SOLE 213000 0 0
BISYS GROUP INC COMMON 055472104 3150 56000 SH SOLE 56000 0 0
BMC SOFTWARE INC COMMON 055921100 16752 452000 SH SOLE 452000 0 0
BANKBOSTON CORP COMMON 06605R10 6347 8000 SH SOLE 8000 0 0
BED BATH & BEYOND INC COMMON 075896100 4599 126000 SH SOLE 126000 0 0
BEST BUY INC COMMON 086516101 364 7000 SH SOLE 7000 0 0
BIOGEN INC COMMON 090597105 41781 365500 SH SOLE 365500 0 0
BIOMET INC COMMON 090613100 294 7000 SH SOLE 7000 0 0
BIOSITE DIAGNOSTICS INC COMMON 090945106 1200 120000 SH SOLE 120000 0 0
BOSTON SCIENTIFIC CORP COMMON 101137107 14198 349500 SH SOLE 349500 0 0
BRIGHTPOINT INC COMMON 109473108 803 136000 SH SOLE 136000 0 0
BRISTOL MYERS SQUIBB CO COMMON 110122108 56552 881900 SH SOLE 881900 0 0
BURR BROWN CORP COMMON 122574106 505 21500 SH SOLE 21500 0 0
CBT GROUP PLC ADRS COMMON 124853300 518 45300 SH SOLE 45300 0 0
CBS CORP COMMON 12490K107 44792 1097500 SH SOLE 1097500 0 0
C H ROBINSON WORLDWIDE ICOMMON 12541W100 758 29800 SH SOLE 29800 0 0
CADENCE DESIGN SYSTEM INCOMMON 127387108 8047 312500 SH SOLE 312500 0 0
CANADIAN PAC LTD NEW COMMON 135923100 235 12000 SH SOLE 12000 0 0
CANON INC S DEPOSITORY RECEI138006309 466 19500 SH SOLE 19500 0 0
CARDINAL HEALTH INC COMMON 14149Y108 11563 175194 SH SOLE 175194 0 0
CELESTICA ADR COMMON 15101Q108 1434 44200 SH SOLE 44200 0 0
CERIDIAN CORP COMMON 15677T106 61915 1693400 SH SOLE 1693400 0 0
CHANCELLOR MEDIA CORP COMMON 158915108 22836 484590 SH SOLE 484590 0 0
CHASE MANHATTAN CORP NEWCOMMON 16161A108 52202 641500 SH SOLE 641500 0 0
CISCO SYS INC COMMON 17275R102 142752 1302925 SH SOLE 1302925 0 0
CITIGROUP INC COMMON 172967101 958 15000 SH SOLE 15000 0 0
CLEAR CHANNEL COMMUNICATCOMMON 184502102 34772 518500 SH SOLE 518500 0 0
CLOROX CO DEL COMMON 189054109 11332 96700 SH SOLE 96700 0 0
COCA COLA CO COMMON 191216100 33683 548800 SH SOLE 548800 0 0
COLGATE-PALMOLIVE CO COMMON 194162103 29670 322500 SH SOLE 322500 0 0
COMARCO INC COMMON 200080109 450 20000 SH SOLE 20000 0 0
CEMIG ADR COMMON 204409601 1216 54400 SH SOLE 54400 0 0
COMPANHIA PARANAENSE ENEDEPOSITORY RECEI20441B407 1222 162900 SH SOLE 162900 0 0
COMPAQ COMPUTER CORP COMMON 204493100 25619 808500 SH SOLE 808500 0 0
COMPUTER SCIENCES CORP COMMON 205363104 32246 584300 SH SOLE 584300 0 0
COMPUWARE CORP COMMON 205638109 10319 432200 SH SOLE 432200 0 0
COMVERSE TECHNOLOGY INC COM PAR $0.10 205862402 213 2500 SH SOLE 2500 0 0
DAYTON HUDSON CORP COMMON 239753106 73341 1100800 SH SOLE 1100800 0 0
DELL COMPUTER CORP COMMON 247025109 43287 1059000 SH SOLE 1059000 0 0
DELTA & PINE LD CO COMMON 247357106 8656 281500 SH SOLE 281500 0 0
DENDRITE INTL INC COMMON 248239105 22576 1011800 SH SOLE 1011800 0 0
DIAL CORP NEW COMMON 25247D101 8769 255100 SH SOLE 255100 0 0
DU PONT E I DE NEMOURS &COMMON 263534109 232 4000 SH SOLE 4000 0 0
E M C CORP MASS COMMON 268648102 84979 665200 SH SOLE 665200 0 0
ETEC SYSTEMS INC COMMON 26922C103 294 10000 SH SOLE 10000 0 0
ELAN PLC DEPOSITORY RECEI284131208 44813 642479 SH SOLE 642479 0 0
ELAN PLC DEPOSITORY RECEI284131208 230 3300 SH SOLE 3300 0 0
EMERSON ELEC CO COMMON 291011104 418 7900 SH SOLE 7900 0 0
EMMIS COMMUNICATIONS CL A 291525103 5475 109500 SH SOLE 109500 0 0
ENDESA ADR DEPOSITORY RECEI29258N107 7937 319060 SH SOLE 319060 0 0
EQUANT N V DEPOSITORY RECEI294409107 1535 20400 SH SOLE 20400 0 0
ERICSSON L M TEL CO DEPOSITORY RECEI294821400 10289 432098 SH SOLE 432098 0 0
FEDERAL HOME LN MTG CORPCOMMON 313400301 39912 696400 SH SOLE 696400 0 0
FEDERATED INVS INC PA CL B 314211103 946 52000 SH SOLE 52000 0 0
FIRSTAR CORP NEW WIS COMMON 33763V109 408 4560 SH SOLE 4560 0 0
FISERV INC COMMON 337738108 17543 327150 SH SOLE 327150 0 0
FRONTIER CORP COMMON 35906P105 11387 219500 SH SOLE 219500 0 0
GALLAGHER ARTHUR J & CO COMMON 363576109 414 9000 SH SOLE 9000 0 0
GAP INC DEL COMMON 364760108 36928 548600 SH SOLE 548600 0 0
GENERAL ELEC CO COMMON 369604103 115688 1045766 SH SOLE 1045766 0 0
GENZYME CORP COM GENL DIV 372917104 9245 183300 SH SOLE 183300 0 0
GILLETTE CO COMMON 375766102 30664 515900 SH SOLE 515900 0 0
GREAT PLAINS SOFTWARE COMMON 39119E105 909 23500 SH SOLE 23500 0 0
GROUPE DANONE DEPOSITORY RECEI399449107 17401 348900 SH SOLE 348900 0 0
GUCCI GROUP N V ADR DEPOSITORY RECEI401566104 499 6200 SH SOLE 6200 0 0
GUILFORD PHARMACEUTICALSCOMMON 401829106 603 53000 SH SOLE 53000 0 0
HA-LO INDUSTRIES INC COMMON 404429102 2313 187850 SH SOLE 187850 0 0
HARLEY DAVIDSON INC COMMON 412822108 45252 788700 SH SOLE 788700 0 0
HERSHEY FOODS CORP COMMON 427866108 224 4000 SH SOLE 4000 0 0
HOME DEPOT INC COMMON 437076102 61852 993604 SH SOLE 993604 0 0
HYPERTENSION DIAGNOSTICS*W EXP 7/23/200 44914V104 115 40000 SOLE 40000 0 0
IDEC PHARMACEUTICALS COMMON 449370105 488 9500 SH SOLE 9500 0 0
IMS HEALTH INC COMMON 449934108 6261 189000 SH SOLE 189000 0 0
I-STAT CORP COMMON 450312103 1364 147500 SH SOLE 147500 0 0
ILLINOIS TOOL WKS INC COMMON 452308109 408 6600 SH SOLE 6600 0 0
IMMUNEX CORP NEW COMMON 452528102 7859 94400 SH SOLE 94400 0 0
INKTOMI CORP COMMON 457277101 9647 112500 SH SOLE 112500 0 0
INTEL CORP COMMON 458140100 70350 591800 SH SOLE 591800 0 0
INTELLIGROUP INC COMMON 45816A106 660 102500 SH SOLE 102500 0 0
INTERNATIONAL BUS MACH COMMON 459200101 266 1500 SH SOLE 1500 0 0
JABIL CIRCUIT INC COMMON 466313103 20525 506800 SH SOLE 506800 0 0
KOHLS CORP COMMON 500255104 52292 737800 SH SOLE 737800 0 0
KOREA ELECTRIC PWR DEPOSITORY RECEI500631106 254 20000 SH SOLE 20000 0 0
LAUDER ESTEE COS INC CL A 518439104 9214 97500 SH SOLE 97500 0 0
LEGATO SYSTEMS INC COMMON 524651106 31667 613400 SH SOLE 613400 0 0
LEXMARK INTL GROUP INC CL A 529771107 14991 134000 SH SOLE 134000 0 0
LILLY ELI & CO COMMON 532457108 56569 666500 SH SOLE 666500 0 0
LINEAR TECHNOLOGY CORP COMMON 535678106 10250 200000 SH SOLE 200000 0 0
LOCKHEED MARTIN CORP COMMON 539830109 24186 640700 SH SOLE 640700 0 0
LOWES COS INC COMMON 548661107 41430 684800 SH SOLE 684800 0 0
LUCENT TECHNOLOGIES INC COMMON 549463107 29290 271200 SH SOLE 271200 0 0
MCI WORLDCOM INC COMMON 55268B106 78316 884300 SH SOLE 884300 0 0
MARSH & MCLENNAN COS INCCOMMON 571748102 20872 281100 SH SOLE 281100 0 0
MAXIM INTEGRATED PRODS ICOMMON 57772K101 10338 191000 SH SOLE 191000 0 0
MCGRAW HILL COS INC COMMON 580645109 5777 106000 SH SOLE 106000 0 0
MCKESSON HBOC INC COMMON 58155Q103 50005 757659 SH SOLE 757659 0 0
MEDCO RESEARCH INC COMMON 584059109 270 10400 SH SOLE 10400 0 0
MEDICAL MANAGER CORP COMMON 58461C103 1226 53000 SH SOLE 53000 0 0
MEDIMMUNE INC COMMON 584699102 7872 133000 SH SOLE 133000 0 0
MEDTRONIC INC COMMON 585055106 68583 954200 SH SOLE 954200 0 0
MEN'S WEARHOUSE INC COMMON 587118100 2397 83000 SH SOLE 83000 0 0
MERCK & CO INC COMMON 589331107 90397 1128200 SH SOLE 1128200 0 0
MERCURY GENL CORP NEW COMMON 589400100 50081 1436000 SH SOLE 1436000 0 0
MERRILL LYNCH & CO INC COMMON 590188108 14558 164500 SH SOLE 164500 0 0
METAMOR WORLDWIDE INC COMMON 59133P100 4117 294100 SH SOLE 294100 0 0
MICROSOFT CORP COMMON 594918104 133290 1487200 SH SOLE 1487200 0 0
MONSANTO CO COMMON 611662107 33231 723400 SH SOLE 723400 0 0
MOTOROLA INC COMMON 620076109 440 6000 SH SOLE 6000 0 0
MUTUAL RISK MGMT LTD COMMON 628351108 9567 248500 SH SOLE 248500 0 0
NAC RE CORP COMMON 628907107 3092 57600 SH SOLE 57600 0 0
NETWORK ASSOCIATES INC COMMON 640938106 12165 396400 SH SOLE 396400 0 0
NEWFIELD EXPL CO COMMON 651290108 520 23000 SH SOLE 23000 0 0
NEWPARK RES INC COM PAR $.01NEW 651718504 5231 721500 SH SOLE 721500 0 0
NEXTEL COMMUNICATIONS INCL A 65332V103 13716 374500 SH SOLE 374500 0 0
NEXTLINK COMMUNICATNS CL A 65333H707 952 17000 SH SOLE 17000 0 0
NICE SYS LTD DEPOSITORY RECEI653656108 445 15100 SH SOLE 15100 0 0
NOKIA CORP ADR DEPOSITORY RECEI654902204 22271 142989 SH SOLE 142989 0 0
NOKIA CORP ADR DEPOSITORY RECEI654902204 436 2800 SH SOLE 2800 0 0
NORTHERN TELECOM LTD COMMON 665815106 839 13500 SH SOLE 13500 0 0
NORTHERN TR CORP COMMON 665859104 222 2500 SH SOLE 2500 0 0
OFFICE DEPOT INC COMMON 676220106 11025 294500 SH SOLE 294500 0 0
ON ASSIGNMENT INC COMMON 682159108 359 14000 SH SOLE 14000 0 0
ORACLE CORP COMMON 68389X105 14882 564250 SH SOLE 564250 0 0
PIMCO ADVISORS HLDGS L PUT LTD PART INT 9338P102 1258 40000 SH SOLE 40000 0 0
PMC-SIERRA INC COMMON 69344F106 2136 30000 SH SOLE 30000 0 0
PAYCHEX INC COMMON 704326107 31827 670925 SH SOLE 670925 0 0
PEPSI BOTTLING GROUP COMMON 713409100 3253 150000 SH SOLE 150000 0 0
PERVASIVE SOFTWARE INC COMMON 715710109 1587 88800 SH SOLE 88800 0 0
PETROLEO BRASILEIRO SA PDEPOSITORY RECEI71654V101 868 62300 SH SOLE 62300 0 0
PFIZER INC COMMON 717081103 96417 694900 SH SOLE 694900 0 0
PHILIP MORRIS COS COMMON 718154107 31989 909100 SH SOLE 909100 0 0
PINNACLE HLDGS INC COMMON 72346N101 1134 75000 SH SOLE 75000 0 0
PORTUGAL TELECOM S A DEPOSITORY RECEI737273102 4500 102700 SH SOLE 102700 0 0
PRICE T ROWE & ASSOCIATECOMMON 741477103 12097 351900 SH SOLE 351900 0 0
PRICELINE COM INC COMMON 741503106 414 5000 SH SOLE 5000 0 0
PROCTER & GAMBLE CO COMMON 742718109 49586 506300 SH SOLE 506300 0 0
PROGRESSIVE CORP OHIO COMMON 743315103 2655 18500 SH SOLE 18500 0 0
QUEENS CNTY BANCORP INC COMMON 748242104 2448 90672 SH SOLE 90672 0 0
QUINTILES TRANSNATIONAL COMMON 748767100 7682 203500 SH SOLE 203500 0 0
RAYTHEON CO CL B 755111408 22541 384500 SH SOLE 384500 0 0
RELIASTAR FINL CORP COMMON 75952U103 5976 140200 SH SOLE 140200 0 0
RENT WAY INC COMMON 76009U104 1934 80600 SH SOLE 80600 0 0
REUTERS GROUP PLC DEPOSITORY RECEI76132M102 527 6066 SH SOLE 6066 0 0
SK TELECOM LTD DEPOSITORY RECEI78440P108 1019 83600 SH SOLE 83600 0 0
SAKS INC COMMON 79377W108 4160 160000 SH SOLE 160000 0 0
SAMSUNG ELECTRONICS GDR COMMON 796050888 3158 77204 SH SOLE 77204 0 0
SAP AKTIENGESELLSCHAFT DEPOSITORY RECEI803054204 1631 62000 SH SOLE 62000 0 0
SAPIENT CORP COMMON 803062108 3319 46500 SH SOLE 46500 0 0
SCHERING PLOUGH CORP COMMON 806605101 63223 1144300 SH SOLE 1144300 0 0
SECURITY DYNAMICS TECH COMMON 814208104 317 17000 SH SOLE 17000 0 0
SELECT COMFORT CORP COMMON 81616X103 822 29500 SH SOLE 29500 0 0
SEPRACOR INC COMMON 817315104 2806 25000 SH SOLE 25000 0 0
SIEBEL SYSTEMS INC COMMON 826170102 2510 52849 SH SOLE 52849 0 0
SMITHKLINE BEECHAM ADR DEPOSITORY RECEI832378301 6762 94567 SH SOLE 94567 0 0
SOLECTRON CORP COMMON 834182107 3254 67000 SH SOLE 67000 0 0
SOUTHWEST AIRLS CO COMMON 844741108 15089 498800 SH SOLE 498800 0 0
SPANLINK COMMUNICATIONS COMMON 846492106 304 90000 SH SOLE 90000 0 0
STAPLES INC COMMON 855030102 25333 770575 SH SOLE 770575 0 0
STERICYCLE INC COMMON 858912108 1220 90800 SH SOLE 90800 0 0
STERLING COMMERCE INC COMMON 859205106 7872 256000 SH SOLE 256000 0 0
SUN MICROSYSTEMS INC COMMON 866810104 64757 517800 SH SOLE 517800 0 0
SUNRISE ASSISTED LIVNG COMMON 86768K106 2552 56000 SH SOLE 56000 0 0
SYLVAN LEARNING SYS COMMON 871399101 9232 337250 SH SOLE 337250 0 0
SYMBOL TECHNOLOGIES COMMON 871508107 5792 128700 SH SOLE 128700 0 0
SYNOPSYS INC COMMON 871607107 9084 169000 SH SOLE 169000 0 0
TCF FINL CORP COMMON 872275102 21457 823300 SH SOLE 823300 0 0
TECHNE CORP COMMON 878377100 578 20000 SH SOLE 20000 0 0
TECNOMATIX TECHNOLOGIES NOTE 5.250 8/1878732AA4 799 1190000 PRN SOLE 1190000 0 0
TELEFONICA S A DEPOSITORY RECEI879382208 227 1779 SH SOLE 1779 0 0
TELMEX ADR COMMON 879403780 284 4300 SH SOLE 4300 0 0
TELLABS INC COMMON 879664100 43049 440400 SH SOLE 440400 0 0
TELETECH HOLDINGS INC COMMON 879939106 190 29000 SH SOLE 29000 0 0
TERADYNE INC COMMON 880770102 8130 149000 SH SOLE 149000 0 0
TEXAS INSTRS INC COMMON 882508104 40623 409300 SH SOLE 409300 0 0
TIME WARNER INC COMMON 887315109 39782 561800 SH SOLE 561800 0 0
TRANSACTION NETWORK SVCSCOMMON 893414102 1568 95750 SH SOLE 95750 0 0
TRANSOCEAN OFFSHORE INC COMMON 893817106 6739 233900 SH SOLE 233900 0 0
TYCO INTL LTD NEW COMMON 902124106 40075 558540 SH SOLE 558540 0 0
UAL CORP COM PAR $0.01 902549500 6837 87800 SH SOLE 87800 0 0
UNIPHASE CORP COMMON 909149106 27515 239000 SH SOLE 239000 0 0
UNISYS CORP COMMON 909214108 222 8000 SH SOLE 8000 0 0
VEECO INSTRS INC DEL COMMON 922417100 499 13500 SH SOLE 13500 0 0
VENTANA MED SYS INC COMMON 92276H106 1701 76000 SH SOLE 76000 0 0
VIACOM INC CL B 925524308 29000 345500 SH SOLE 345500 0 0
VITESSE SEMICONDUCTOR COCOMMON 928497106 18397 363400 SH SOLE 363400 0 0
VODAFONE ADR COMMON 92857T107 6496 34600 SH SOLE 34600 0 0
WALGREEN CO COMMON 931422109 36010 1274700 SH SOLE 1274700 0 0
WARNER LAMBERT CO COMMON 934488107 39571 597300 SH SOLE 597300 0 0
WELLS FARGO & CO NEW COMMON 949746101 34330 979100 SH SOLE 979100 0 0
WHITTMAN-HART INC COMMON 966834103 3873 180146 SH SOLE 180146 0 0
WILLIAMS SONOMA INC COMMON 969904101 2585 91500 SH SOLE 91500 0 0
XILINX INC COMMON 983919101 22244 548400 SH SOLE 548400 0 0
XEROX CORP COMMON 984121103 32755 628400 SH SOLE 628400 0 0
YAGEO CORP GDR 984326108 4204 1017843 SH SOLE 1017843 0 0
YAGEO CORP GDR 984326108 74 18000 SH SOLE 18000 0 0
ACE LIMITED ORD G0070K103 18466 592100 SH SOLE 592100 0 0
SCOTTISH ANNUITY & LIFE ORD G7885T104 541 55500 SH SOLE 55500 0 0
STIRLING COOKE BROWN HLDORD G84951105 245 35000 SH SOLE 35000 0 0
XL CAP LTD CL A G98255105 32119 528700 SH SOLE 528700 0 0
CHECK POINT SOFTW TECH ORD M22465104 15459 359500 SH SOLE 359500 0 0
GALILEO TECHNOLOGY LTD ORD M47298100 980 33500 SH SOLE 33500 0 0
GILAT SATELLITE NETWKS ORD M51474100 1410 23500 SH SOLE 23500 0 0
HOME CTRS DIY LTD ORD M53070104 128 15960 SH SOLE 15960 0 0
FLEXTRONICS INTL LTD ORD Y2573F102 1326 26000 SH SOLE 26000 0 0
ALL AMERICAN TERM TRUST COMMON 016440109 623 47000 SH DEFINED 1 0 47000 0
AMERICAN STRATEGIC INCOMCOMMON 030098107 7796 660004 SH DEFINED 1 0 660004 0
AMERICAN MUNI TERM TRUSTCOMMON 027652106 11071 989600 SH DEFINED 1 0 989600 0
BLACKROCK ADVANTAGE TERMCOMMON 09247A101 377 38700 SH DEFINED 1 0 38700 0
BLACKROCK STRATEGIC TERMCOMMON 09247P108 3096 337000 SH DEFINED 1 0 337000 0
BLACKROCK INVT QUALITY MCOMMON 09247D105 2927 190400 SH DEFINED 1 0 190400 0
BLACKROCK INCOME TRUST COMMON 09247F100 34 5000 SH DEFINED 1 0 5000 0
BLACKROCK 2001 TERM TRUSCOMMON 092477108 16905 1878300 SH DEFINED 1 0 1878300 0
BLACKROCK MUNI TARGET TRUCOMMON 09247M105 29380 2686200 SH DEFINED 1 0 2686200 0
BLACKROCK INSD MUNI TERM COMMON 092474105 9921 858000 SH DEFINED 1 0 858000 0
BLACKROCK 1999 TERM TRUSTCOMMON 09247T100 593 59700 SH DEFINED 1 0 59700 0
BLACKROCK INVT QUALITY TECOMMON 09247J102 5503 633400 SH DEFINED 1 0 633400 0
BLACKROCK INSD MUNI 2008 COMMON 09247K109 16521 1044800 SH DEFINED 1 0 1044800 0
AMERICAN STRATEGIC INCOMECOMMON 030099105 37233 3118967 SH DEFINED 1 0 3118967 0
BLACKROCK TARGET TERM TRUCOMMON 092476100 1061 109500 SH DEFINED 1 0 109500 0
AMERICAN MUNI TERM TRUST COMMON 027653104 8390 741700 SH DEFINED 1 0 741700 0
AMERICAN STRATEGIC INC IICOMMON 03009T101 29539 2540980 SH DEFINED 1 0 2540980 0
AMERICAN MUNI TERM TRUST COMMON 027654102 4604 411500 SH DEFINED 1 0 411500 0
MUNICIPAL ADVANTAGE FUND COMMON 626189104 1198 87100 SH DEFINED 1 0 87100 0
MINNESOTA MUNI TERM TRUSTCOMMON 604065102 6416 576700 SH DEFINED 1 0 576700 0
MINNESOTA MUNI TERM TRUSTCOMMON 604066100 4741 438500 SH DEFINED 1 0 438500 0
MONTGOMERY STREET INCOME COMMON 614115103 272 14200 SH DEFINED 1 0 14200 0
NUVEEN MUNICIPAL VALUE FUCOMMON 670928100 1773 179500 SH DEFINED 1 0 179500 0
AMERICAN SELECT PORTFOLIOCOMMON 029570108 18057 1489247 SH DEFINED 1 0 1489247 0
VAN KAMP STRAT SECTOR MUNCOMMON 920943107 5189 379100 SH DEFINED 1 0 379100 0
VAN KAMPEN VALUE MUNI INCCOMMON 921132106 58 4000 SH DEFINED 1 0 4000 0
VOYAGEUR MINNESOTA MUNI ICOMMON 928923101 2315 153700 SH DEFINED 1 0 153700 0
VAN KAMPEN MUNI OPPOR TRUCOMMON 920935103 5255 317300 SH DEFINED 1 0 317300 0
VOYAGEUR MINN MUNI INC IICOMMON 92907E100 452 32000 SH DEFINED 1 0 32000 0
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