UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F
FORM 13F COVER PAGE
Report for the Calendar Year or Quarter Ended June 30, 2000.
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 Wells Fargo 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, August 8, 2000
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 June 30, 2000.
Report Summary:
Number of Other Included managers: 1
Form 13F Information Table Entry Total: 349
Form 13 F Information Table Value Total: $5,861,291
List of Other Included Manager:
13F
No. File No. Name
---- ------- -------------
1. 028-04373 Sit Investment Fixed Income Advisors, Inc.
<PAGE>
<TABLE>
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
NAME OF ISSUER TI CL CUSIP VALUE(K)SH/PAMT S/P P/C INVDSC MANAGERSSOLE SHARED NONE
A D C TELECOMM COMMON 000886101 46827 558300 SH SOLE 558300 0 0
AFLAC INC COMMON 001055102 3248 70700 SH SOLE 70700 0 0
AMFM INC COMMON 001693100 26019 377090 SH SOLE 377090 0 0
LIBERTY MEDIA COM LIB 001957208 25341 1045000 SH SOLE 1045000 0 0
AXA FINL INC COMMON 002451102 2176 64000 SH SOLE 64000 0 0
ACLARA BIOSCC COMMON 00461P106 1329 26100 SH SOLE 26100 0 0
ADELPHIA BUSINT CL A 006847107 2940 126800 SH SOLE 126800 0 0
ADELPHIA COMMUS CL A 006848105 8766 187000 SH SOLE 187000 0 0
AEGON N V ORD AME 007924103 12698 356449 SH SOLE 356449 0 0
AFFYMETRIX INC COMMON 00826T108 3641 22050 SH SOLE 22050 0 0
AGILENT TECHNOL COMMON 00846U101 14036 190321 SH SOLE 190321 0 0
ALEXION PHARMAC COMMON 015351109 2617 36600 SH SOLE 36600 0 0
ALLEGIANCE TELE COMMON 01747T102 26272 410500 SH SOLE 410500 0 0
ALLIANCE CAP MG UNIT LT 01855A101 2405 50700 SH SOLE 50700 0 0
ALLSCRIPTS INC COMMON 019886100 1847 80300 SH SOLE 80300 0 0
AMBAC FINL GR COMMON 023139108 7608 138800 SH SOLE 138800 0 0
AMERICA ONLINE COMMON 02364J104 45927 871695 SH SOLE 871695 0 0
AMERICAN GENERA COMMON 026351106 19868 325700 SH SOLE 325700 0 0
AMERICAN HOME P COMMON 026609107 23259 395900 SH SOLE 395900 0 0
AMERICAN INTL G COMMON 026874107 68249 580846 SH SOLE 580846 0 0
AMERICAN TOWER CL A 029912201 9338 224000 SH SOLE 224000 0 0
AMGEN INC COMMON 031162100 103935 1479495 SH SOLE 1479495 0 0
ANADARKO PETE COMMON 032511107 29578 599800 SH SOLE 599800 0 0
ANALOG DEVICES COMMON 032654105 43024 566100 SH SOLE 566100 0 0
APPLIED MATLS COMMON 038222105 36492 402665 SH SOLE 402665 0 0
APPLIED MICRO C COMMON 03822W109 65284 661100 SH SOLE 661100 0 0
ARIBA INC COMMON 04033V104 392 4000 SH SOLE 4000 0 0
ASYST TECHNOLOG COMMON 04648X107 10494 306400 SH SOLE 306400 0 0
ACCTON GDR COMMON 051908093 841 190085 SH SOLE 190085 0 0
AWARE INC MASS COMMON 05453N100 511 10000 SH SOLE 10000 0 0
BISYS GROUP INC COMMON 055472104 1710 27800 SH SOLE 27800 0 0
BJ SVCS CO COMMON 055482103 625 10000 SH SOLE 10000 0 0
BP AMOCO P L C DEP REC 055622104 12608 222900 SH SOLE 222900 0 0
BEA SYS INC COMMON 073325102 11529 233200 SH SOLE 233200 0 0
BED BATH & BEYO COMMON 075896100 5746 158500 SH SOLE 158500 0 0
BEST BUY INC COMMON 086516101 13283 210000 SH SOLE 210000 0 0
BINDLEY WESTN COMMON 090324104 397 15000 SH SOLE 15000 0 0
BIOGEN INC COMMON 090597105 45589 706800 SH SOLE 706800 0 0
BIOSITE DIAGNOS COMMON 090945106 4602 95500 SH SOLE 95500 0 0
BOOKHAM TECHNOL DEPRECE 09856Q108 1185 20000 SH SOLE 20000 0 0
BRISTOL MYERS COMMON 110122108 48344 829947 SH SOLE 829947 0 0
BROADBASE SOFTW COMMON 11130R100 481 15700 SH SOLE 15700 0 0
BROCADE COMMUN COMMON 111621108 19614 106900 SH SOLE 106900 0 0
BURR BROWN CORP COMMON 122574106 8114 93600 SH SOLE 93600 0 0
BUSINESS OBJECT DEP REC 12328X107 3023 34300 SH SOLE 34300 0 0
C&D TECHNOLOGIE COMMON 124661109 3141 55600 SH SOLE 55600 0 0
CAIS INTERNET COMMON 12476Q102 180 12800 SH SOLE 12800 0 0
C H ROBINSON W COMMON 12541W100 1861 37600 SH SOLE 37600 0 0
CALIPER TECHNOL COMMON 130876105 1109 24100 SH SOLE 24100 0 0
CANON INC DEP REC 138006309 2834 56254 SH SOLE 56254 0 0
CAPSTONE TURBIN COMMON 14067D102 676 15000 SH SOLE 15000 0 0
CELESTICA ADR COMMON 15101Q108 1578 31800 SH SOLE 31800 0 0
CERIDIAN CORP COMMON 15677T106 48699 2023850 SH SOLE 2023850 0 0
CHASE MANHATTAN COMMON 16161A108 38962 845850 SH SOLE 845850 0 0
CISCO SYS INC COMMON 17275R102 215246 3386366 SH SOLE 3386366 0 0
CITIGROUP INC COMMON 172967101 33722 559700 SH SOLE 559700 0 0
CITRIX SYS INC COMMON 177376100 1295 68400 SH SOLE 68400 0 0
CLEAR CHANNEL C COMMON 184502102 58418 778900 SH SOLE 778900 0 0
COCA COLA CO COMMON 191216100 28523 496600 SH SOLE 496600 0 0
COLGATE PALMOL COMMON 194162103 35368 590700 SH SOLE 590700 0 0
PAO ACUCAR ADR COMMON 20440T201 222 6900 SH SOLE 6900 0 0
COMPUTER SCIENC COMMON 205363104 43013 575900 SH SOLE 575900 0 0
COMVERSE TECHN COM PAR 205862402 37014 398000 SH SOLE 398000 0 0
COM21 INC COMMON 205937105 300 12000 SH SOLE 12000 0 0
CORIXA CORP COMMON 21887F100 700 16300 SH SOLE 16300 0 0
CORNING INC COMMON 219350105 2429 9000 SH SOLE 9000 0 0
COST PLUS INC COMMON 221485105 2374 82750 SH SOLE 82750 0 0
COSTCO WHSL COR COMMON 22160K105 20211 612454 SH SOLE 612454 0 0
CRAYFISH CO LTD DEP REC 225226109 972 138900 SH SOLE 138900 0 0
CREE INC COMMON 225447101 534 4000 SH SOLE 4000 0 0
DENDRITE INTL COMMON 248239105 47997 1440800 SH SOLE 1440800 0 0
DEVON ENERGY CO COMMON 25179M103 12401 220700 SH SOLE 220700 0 0
DIAMOND TECHNOL CL A 252762109 1144 13000 SH SOLE 13000 0 0
DIGITAL IS INC COMMON 25385N101 569 11700 SH SOLE 11700 0 0
DIGITAL INSIGHT COMMON 25385P106 350 10300 SH SOLE 10300 0 0
DISNEY WALT CO COM DIS 254687106 17335 446635 SH SOLE 446635 0 0
DYNEGY INC NEW CL A 26816Q101 5636 82500 SH SOLE 82500 0 0
E M C CORP MASS COMMON 268648102 119631 1554908 SH SOLE 1554908 0 0
EOG RES INC COMMON 26875P101 38053 1135900 SH SOLE 1135900 0 0
ECHOSTAR COMMUN CL A 278762109 10122 305700 SH SOLE 305700 0 0
ELAN PLC DEP REC 284131208 50031 1032898 SH SOLE 1032898 0 0
ELECTRONIC ARTS COMMON 285512109 7622 104500 SH SOLE 104500 0 0
EMBRATEL ADR COMMON 29081N100 215 9100 SH SOLE 9100 0 0
EMMIS COMMUN CL A 291525103 10137 245000 SH SOLE 245000 0 0
ENDESA ADR DEP REC 29258N107 2478 127060 SH SOLE 127060 0 0
ENRON CORP COMMON 293561106 8907 138100 SH SOLE 138100 0 0
EQUANT N V DEP REC 294409107 7783 181000 SH SOLE 181000 0 0
ERICSSON L M DEP REC 294821400 21899 1094936 SH SOLE 1094936 0 0
EXODUS COMMUN COMMON 302088109 1400 30400 SH SOLE 30400 0 0
EXTREME NETWORK COMMON 30226D106 1857 17600 SH SOLE 17600 0 0
FEDERATED INVS CL B 314211103 3194 91100 SH SOLE 91100 0 0
FIRSTAR CORP N COMMON 33763V109 288 13680 SH SOLE 13680 0 0
FISERV INC COMMON 337738108 19726 456100 SH SOLE 456100 0 0
FLEETBOSTON FIN COMMON 339030108 201 5922 SH SOLE 5922 0 0
GT GROUP TELECO COMM 362359408 158 10000 SH SOLE 10000 0 0
GALLAGHER ARTHU COMMON 363576109 6287 149700 SH SOLE 149700 0 0
GENENTECH INC COM NEW 368710406 18645 108400 SH SOLE 108400 0 0
GENERAL ELEC CO COMMON 369604103 163008 3075626 SH SOLE 3075626 0 0
GENERAL MLS INC COMMON 370334104 383 10000 SH SOLE 10000 0 0
GENERAL MTRS CO CL H NE 370442832 23947 272900 SH SOLE 272900 0 0
GOLDMAN SACHS G COMMON 38141G104 5360 56500 SH SOLE 56500 0 0
GRANT PRIDECO COMMON 38821G101 448 17900 SH SOLE 17900 0 0
GREAT PLAINS S COMMON 39119E105 1531 78000 SH SOLE 78000 0 0
GRUPO TELEVISA DEP REC 40049J206 400 5800 SH SOLE 5800 0 0
HALLIBURTON CO COMMON 406216101 31205 661300 SH SOLE 661300 0 0
HARLEY DAVIDSON COMMON 412822108 46489 1207500 SH SOLE 1207500 0 0
HARMONIC INC COMMON 413160102 248 10000 SH SOLE 10000 0 0
HELMERICH & PAY COMMON 423452101 3947 105600 SH SOLE 105600 0 0
HEWLETT PACKARD COMMON 428236103 5669 45400 SH SOLE 45400 0 0
HOME DEPOT INC COMMON 437076102 58075 1162946 SH SOLE 1162946 0 0
ICG COMMUNICAT COMMON 449246107 227 10300 SH SOLE 10300 0 0
IDEC PHARMACEUT COMMON 449370105 17937 152900 SH SOLE 152900 0 0
I-STAT CORP COMMON 450312103 2375 136200 SH SOLE 136200 0 0
IMMUNEX CORP N COMMON 452528102 29292 592500 SH SOLE 592500 0 0
INDIA FUND INC COMMON 454089103 1353 95400 SH SOLE 95400 0 0
INFOSPACE INC COMMON 45678T102 12149 219900 SH SOLE 219900 0 0
INKTOMI CORP COMMON 457277101 49700 420300 SH SOLE 420300 0 0
INTEGRATED DEVI COMMON 458118106 832 13900 SH SOLE 13900 0 0
INTEGRATED CIRC COMMON 45811K208 313 18300 SH SOLE 18300 0 0
INTEGRATED SILI COMMON 45812P107 410 10800 SH SOLE 10800 0 0
INTEL CORP COMMON 458140100 147665 1104554 SH SOLE 1104554 0 0
INTERNAP NETWOR COMMON 45885A102 10375 249900 SH SOLE 249900 0 0
INTERNET INITIA COMMON 46059T109 8117 137000 SH SOLE 137000 0 0
I2 TECHNOLOGIES COMMON 465754109 4942 47400 SH SOLE 47400 0 0
JDS UNIPHASE CO COMMON 46612J101 196909 1642616 SH SOLE 1642616 0 0
JABIL CIRCUIT COMMON 466313103 38544 776700 SH SOLE 776700 0 0
JUNIPER NETWORk COMMON 48203R104 18530 127300 SH SOLE 127300 0 0
JUNIPER NETWORK NOTE4.7 48203RAA2 8403 7570000 PRN SOLE 7570000 0 0
KANSAS CITY SOU COM NEW 485170302 1638 294500 SH SOLE 294500 0 0
KIMBERLY CLARK COMMON 494368103 22491 392000 SH SOLE 392000 0 0
KOHLS CORP COMMON 500255104 64430 1158300 SH SOLE 1158300 0 0
KOREA TELECOM DEP REC 50063P103 2399 49600 SH SOLE 49600 0 0
LTX CORP COMMON 502392103 423 12100 SH SOLE 12100 0 0
LAM RESEARCH CO COMMON 512807108 443 11800 SH SOLE 11800 0 0
LAUDER ESTEE CO CL A 518439104 7020 142000 SH SOLE 142000 0 0
LEAP WIRELESS COMMON 521863100 334 7100 SH SOLE 7100 0 0
LEGATO SYS INC COMMON 524651106 8189 541400 SH SOLE 541400 0 0
LEGG MASON INC COMMON 524901105 8660 173200 SH SOLE 173200 0 0
LEXMARK INTL N CL A 529771107 41951 623800 SH SOLE 623800 0 0
LIBERTY DIGITAL CL A 530436104 264 8800 SH SOLE 8800 0 0
LILLY ELI & CO COMMON 532457108 13263 132800 SH SOLE 132800 0 0
LINEAR TECHNOLO COMMON 535678106 42128 658900 SH SOLE 658900 0 0
LUCENT TECHNOLO COMMON 549463107 2733 46124 SH SOLE 46124 0 0
MANUGISTICS GRO COMMON 565011103 224 4800 SH SOLE 4800 0 0
MARINE DRILLING COM PAR 568240204 540 19300 SH SOLE 19300 0 0
MARSH & MCLENNA COMMON 571748102 56502 541010 SH SOLE 541010 0 0
MAXIM INTEGRATE COMMON 57772K101 13112 193000 SH SOLE 193000 0 0
MAXYGEN INC COMMON 577776107 755 13300 SH SOLE 13300 0 0
MCGRAW HILL COS COMMON 580645109 5724 106000 SH SOLE 106000 0 0
MEDIAONE GROUP COMMON 58440J104 1666 25000 SH SOLE 25000 0 0
MEDIMMUNE INC COMMON 584699102 73748 996600 SH SOLE 996600 0 0
MEDTRONIC INC COMMON 585055106 58645 1177309 SH SOLE 1177309 0 0
MERCK & CO INC COMMON 589331107 52527 685506 SH SOLE 685506 0 0
MERCURY INTERA COMMON 589405109 4247 43900 SH SOLE 43900 0 0
MICROSOFT CORP COMMON 594918104 149135 1864186 SH SOLE 1864186 0 0
MICROMUSE INC COMMON 595094103 4634 28000 SH SOLE 28000 0 0
MILLENNIUM PHA COMMON 599902103 9431 84300 SH SOLE 84300 0 0
MILLIPORE CORP COMMON 601073109 14299 189700 SH SOLE 189700 0 0
MINNESOTA MNG & COMMON 604059105 330 4000 SH SOLE 4000 0 0
MORGAN STANLEY COM NEW 617446448 56260 675800 SH SOLE 675800 0 0
NBC INTERNET IN CL A 62873D105 170 13600 SH SOLE 13600 0 0
NATIONAL COMPUT COMMON 635519101 6920 140500 SH SOLE 140500 0 0
NATIONAL-OILWEL COMMON 637071101 1736 52800 SH SOLE 52800 0 0
NETWORK APPLIA COMMON 64120L104 16342 203000 SH SOLE 203000 0 0
NEWFIELD EXPL C COMMON 651290108 2516 64300 SH SOLE 64300 0 0
NEWPORT CORP COMMON 651824104 387 3600 SH SOLE 3600 0 0
NEWS CORP LTD DEP REC 652487802 1482 31200 SH SOLE 31200 0 0
NEXTEL COMMUNI CL A 65332V103 37288 609400 SH SOLE 609400 0 0
NEXTLINK COMMUN CL A 65333H707 19477 513400 SH SOLE 513400 0 0
NICE SYS LTD DEP REC 653656108 525 6800 SH SOLE 6800 0 0
NOKIA CORP ADR DEP REC 654902204 137034 2744117 SH SOLE 2744117 0 0
NOBLE DRILLING COMMON 655042109 6528 158500 SH SOLE 158500 0 0
NORTEL NETWORKS COMMON 656568102 59508 871909 SH SOLE 871909 0 0
NORTHERN TR COR COMMON 665859104 293 4500 SH SOLE 4500 0 0
OMNICOM GROUP COMMON 681919106 4409 49500 SH SOLE 49500 0 0
ONI SYSTEMS COR COMMON 68273F103 1172 10000 SH SOLE 10000 0 0
ORACLE CORP COMMON 68389X105 93040 1106791 SH SOLE 1106791 0 0
OXFORD HEALTH COMMON 691471106 16090 675700 SH SOLE 675700 0 0
PE CORP BIOSYST COMMON 69332S102 12226 185600 SH SOLE 185600 0 0
PE CORP CELERA CELERA 69332S201 948 10300 SH SOLE 10300 0 0
PLX TECHNOLOGY COMMON 693417107 336 8100 SH SOLE 8100 0 0
PMC-SIERRA INC COMMON 69344F106 82160 462385 SH SOLE 462385 0 0
PEGASUS COMMUN CL A 705904100 417 8500 SH SOLE 8500 0 0
PEPSICO INC COMMON 713448108 12342 277737 SH SOLE 277737 0 0
PERKINELMER INC COMMON 714046109 5035 76150 SH SOLE 76150 0 0
PFIZER INC COMMON 717081103 127348 2653091 SH SOLE 2653091 0 0
PHARMACIA CORP COMMON 71713U102 24169 467600 SH SOLE 467600 0 0
PINNACLE HLDGS COMMON 72346N101 3434 63600 SH SOLE 63600 0 0
PORTAL SOFTWARE COMMON 736126103 3647 57100 SH SOLE 57100 0 0
PRIDE INTL INC COMMON 741932107 2153 87000 SH SOLE 87000 0 0
PRIORITY HEALTH CL B 74264T102 398 5350 SH SOLE 5350 0 0
PRIORITY HEALTH CL A 74264T201 226 4032 SH SOLE 4032 0 0
PROTEIN DESIGN COMMON 74369L103 4932 29900 SH SOLE 29900 0 0
QLT INC COMMON 746927102 2172 28100 SH SOLE 28100 0 0
QUALCOMM INC COMMON 747525103 35942 599028 SH SOLE 599028 0 0
QUEENS CNTY BAN COMMON 748242104 795 43125 SH SOLE 43125 0 0
RSA SEC INC COMMON 749719100 5138 74200 SH SOLE 74200 0 0
RF MICRODEVICES COMMON 749941100 5932 67700 SH SOLE 67700 0 0
RADIOSHACK CORP COMMON 750438103 971 20500 SH SOLE 20500 0 0
ROWAN COS INC COMMON 779382100 462 15200 SH SOLE 15200 0 0
ROYAL DUTCH PET DEP REC 780257804 6686 108600 SH SOLE 108600 0 0
RURAL CELLULAR CL A 781904107 3575 46700 SH SOLE 46700 0 0
SDL INC COMMON 784076101 26209 91900 SH SOLE 91900 0 0
SK TELECOM LTD DEP REC 78440P108 5629 155026 SH SOLE 155026 0 0
SAMSUNG ELECTRO COMMON 796050888 18771 95527 SH SOLE 95527 0 0
SANMINA CORP COMMON 800907107 5814 68000 SH SOLE 68000 0 0
SAPIENT CORP COMMON 803062108 16329 152700 SH SOLE 152700 0 0
SCHLUMBERGER LT COMMON 806857108 15552 208400 SH SOLE 208400 0 0
SCIENTIFIC ATLA COMMON 808655104 16718 224400 SH SOLE 224400 0 0
SEPRACOR INC COMMON 817315104 5247 43500 SH SOLE 43500 0 0
SIEBEL SYS INC COMMON 826170102 32588 199236 SH SOLE 199236 0 0
SMARTFORCE PUB DEP REC 83170A206 734 15300 SH SOLE 15300 0 0
SMITH INTL INC COMMON 832110100 473 6500 SH SOLE 6500 0 0
SMITHKLINE BEEC DEP REC 832378301 10214 156686 SH SOLE 156686 0 0
SONY CORP DEP REC 835699307 340 3600 SH SOLE 3600 0 0
SONUS NETWORKS COMMON 835916107 1579 10000 SH SOLE 10000 0 0
SPRINT CORP COM FON 852061100 55616 1090500 SH SOLE 1090500 0 0
STERICYCLE INC COMMON 858912108 1824 76000 SH SOLE 76000 0 0
STMICROELECTRO COMMON 861012102 35521 553393 SH SOLE 553393 0 0
STRYKER CORP COMMON 863667101 394 9000 SH SOLE 9000 0 0
SUN MICROSYSTEM COMMON 866810104 72232 794300 SH SOLE 794300 0 0
SYCAMORE NETWOR COMMON 871206108 740 6700 SH SOLE 6700 0 0
SYMBOL TECHNOLO COMMON 871508107 18351 339825 SH SOLE 339825 0 0
SYSCO CORP COMMON 871829107 16066 381400 SH SOLE 381400 0 0
TCF FINL CORP COMMON 872275102 19700 766900 SH SOLE 766900 0 0
TAIWAN SEMICOND DEP REC 874039100 10765 277805 SH SOLE 277805 0 0
TARGET CORP COMMON 87612E106 49544 854200 SH SOLE 854200 0 0
TECHNE CORP COMMON 878377100 2600 20000 SH SOLE 20000 0 0
TELE CENTRO SUL DEP REC 879239101 219 3000 SH SOLE 3000 0 0
TELEFONICA S A DEP REC 879382208 356 5550 SH SOLE 5550 0 0
TELEFONOS DE ME DEP REC 879403780 8997 157495 SH SOLE 157495 0 0
TELEPHONE & DAT COMMON 879433100 8982 89600 SH SOLE 89600 0 0
TELLABS INC COMMON 879664100 53662 784100 SH SOLE 784100 0 0
TENET HEALTHCA COMMON 88033G100 5414 200500 SH SOLE 200500 0 0
TERADYNE INC COMMON 880770102 29143 396500 SH SOLE 396500 0 0
TERAYON COMMUNI COMMON 880775101 334 5200 SH SOLE 5200 0 0
TEXAS INSTRS IN COMMON 882508104 63186 919900 SH SOLE 919900 0 0
THREE FIVE SYS COMMON 88554L108 502 8500 SH SOLE 8500 0 0
TIBCO SOFTWARE COMMON 88632Q103 965 9000 SH SOLE 9000 0 0
TIFFANY & CO NE COMMON 886547108 5771 85500 SH SOLE 85500 0 0
TIME WARNER INC COMMON 887315109 43233 568857 SH SOLE 568857 0 0
TRIGON HEALTHCA COMMON 89618L100 2233 43300 SH SOLE 43300 0 0
TRIQUINT SEMICO COMMON 89674K103 440 4600 SH SOLE 4600 0 0
TUT SYSTEMS COMMON 901103101 442 7700 SH SOLE 7700 0 0
TYCO INTL LTD COMMON 902124106 44915 948080 SH SOLE 948080 0 0
UNITEDHEALTH GR COMMON 91324P102 32662 380900 SH SOLE 380900 0 0
UNIVISION COMMU CL A 914906102 7949 76800 SH SOLE 76800 0 0
VARIAN SEMICON COMMON 922207105 477 7600 SH SOLE 7600 0 0
VENTANA MED SYS COMMON 92276H106 1941 82600 SH SOLE 82600 0 0
VERITAS SOFTWAR COMMON 923436109 31170 275800 SH SOLE 275800 0 0
VERISIGN INC COMMON 92343E102 15938 90300 SH SOLE 90300 0 0
VERTICALNET INC COMMON 92532L107 1448 39200 SH SOLE 39200 0 0
VIACOM INC CL B 925524308 47784 700776 SH SOLE 700776 0 0
VIASYSTEMS GROU COMMON 92553H100 429 26500 SH SOLE 26500 0 0
VIGNETTE CORP COMMON 926734104 11204 215400 SH SOLE 215400 0 0
VIRATA CORP COMMON 927646109 543 9100 SH SOLE 9100 0 0
VITESSE SEMICON COMMON 928497106 18045 245300 SH SOLE 245300 0 0
VODAFONE AIRTOU DEP REC 92857T107 85278 2057996 SH SOLE 2057996 0 0
WADDELL & REED CL A 930059100 1066 32500 SH SOLE 32500 0 0
WAL MART STORES COMMON 931142103 1912 33186 SH SOLE 33186 0 0
WALGREEN CO COMMON 931422109 37679 1170600 SH SOLE 1170600 0 0
WATERS CORP COMMON 941848103 12257 98200 SH SOLE 98200 0 0
WEATHERFORD INT COMMON 947074100 4459 112000 SH SOLE 112000 0 0
WELLS FARGO & C COMMON 949746101 26387 680946 SH SOLE 680946 0 0
WORLDCOM INC GA COMMON 98157D106 49426 1077400 SH SOLE 1077400 0 0
XILINX INC COMMON 983919101 127650 1546100 SH SOLE 1546100 0 0
YAGEO CORP GDR 984326108 989 129727 SH SOLE 129727 0 0
ZIONS BANCORPOR COMMON 989701107 7044 153500 SH SOLE 153500 0 0
ACE LTD ORD G0070K103 36425 1300900 SH SOLE 1300900 0 0
AMDOCS LTD ORD G02602103 3331 43400 SH SOLE 43400 0 0
EVEREST RE GROU COMMON G3223R108 3294 100200 SH SOLE 100200 0 0
FLAG TELECOM HO ORD G3529L102 149 10000 SH SOLE 10000 0 0
GLOBAL CROSSING COMMON G3921A100 28373 1078300 SH SOLE 1078300 0 0
TRANSOCEAN SEDC ORD G90078109 28391 531300 SH SOLE 531300 0 0
XL CAP LTD CL A G98255105 46981 868000 SH SOLE 868000 0 0
CHECK POINT SO ORD M22465104 47580 224700 SH SOLE 224700 0 0
ASM LITHOGRAPHY DEP REC N07059111 46856 1061900 SH SOLE 1061900 0 0
FLEXTRONICS INT ORD Y2573F102 4980 72500 SH SOLE 72500 0 0
ALLMERICA SECU COMMON 019921105 683 71400 SH SOLE 1 0 71400 0
AMERICAN STRATE COMMON 030098107 4440 410640 SH SOLE 1 0 410640 0
AMERICAN MUNI COMMON 027652106 8598 823800 SH SOLE 1 0 823800 0
BLACKROCK ADVA COMMON 09247A101 1212 133700 SH SOLE 1 0 133700 0
BLACKROCK BROAD COMMON 09247Q106 78 6800 SH SOLE 1 0 6800 0
1838 BOND DEBEN COMMON 282520105 1584 90500 SH SOLE 1 0 90500 0
BLACKROCK STRAT COMMON 09247P108 3851 437000 SH SOLE 1 0 437000 0
BLACKROCK INCOM COMMON 09247F100 1315 206200 SH SOLE 1 0 206200 0
BLACKROCK MUNI COMMON 09247M105 15201 1501300 SH SOLE 1 0 1501300 0
BLACKROCK INSD COMMON 092474105 1191 119100 SH SOLE 1 0 119100 0
BLACKROCK NORTH COMMON 092475102 293 30000 SH SOLE 1 0 30000 0
BLACKROCK INVT COMMON 09247J102 5504 693400 SH SOLE 1 0 693400 0
BLACKROCK INSD COMMON 09247K109 20661 1462700 SH SOLE 1 0 1462700 0
AMER STR INCOME COMMON 030099105 25677 2321079 SH SOLE 1 0 2321079 0
BLCKRCK 2001 TE COMMON 092477108 16094 1763700 SH SOLE 1 0 1763700 0
AMER MUNI TERM COMMON 027653104 9068 879300 SH SOLE 1 0 879300 0
COLONIAL INTER COMMON 195762109 43 5000 SH SOLE 1 0 5000 0
AMER STR INC COMMON 03009T101 12726 1204787 SH SOLE 1 0 1204787 0
CURRENT INCOME COMMON 231298100 902 88500 SH SOLE 1 0 88500 0
AMER MUNI TERM COMMON 027654102 7096 700800 SH SOLE 1 0 700800 0
DREYFUS MUNICI COMMON 26201R102 261 34500 SH SOLE 1 0 34500 0
DUFF & PHELPS COMMON 264325101 178 14000 SH SOLE 1 0 14000 0
DUFF & PHELPS COMMON 26432K108 921 81000 SH SOLE 1 0 81000 0
FORTIS SECUR COMMON 34955T100 124 16700 SH SOLE 1 0 16700 0
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</TABLE>
