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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: 12/31/97
Institutional Investment Manager:
GRANTHAM, MAYO, VAN OTTERLOO & CO.
40 ROWES WHARF
BOSTON MA 02110
I REPRESENT THAT I AM AUTHORIZED TO SUBMIT THIS FORM AND THAT ALL INFORMATION IN
THIS FORM AND THE ATTACHMENTS TO IT IS 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 AND EXCHANGE ACT OF 1934.
Name, Title and Telephone Number of Person Submitting Report:
FORREST BERKLEY PARTNER (617) 346-7578
Signature, Place and Date of Signing:
/s/ FORREST BERKLEY BOSTON MA 12/31/97
Other Managers on Whose Behalf this Report is Filed:
01 STRATEGIC INVESTMENT MANAGEMENT INTERNATIONAL 028-02495
<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
20TH CENTY INDS CAL COM PAR $10 901272203 1997 76800 SH SOLE 76800 0 0
AAR CORP COM 000361105 329 8500 SH SOLE 8500 0 0
ABBOTT LABS COM 002824100 92133 1406604 SH SOLE 1406604 0 0
ABITIBI-CONSOLIDATED INC COM 003924107 9606 966571 SH SOLE 966571 0 0
ACCUSTAFF INC COM 004401105 2199 95600 SH SOLE 95600 0 0
ACX TECHNOLOGIES INC COM 005123104 2312 94600 SH SOLE 94600 0 0
ADOBE SYS INC COM 00724F101 1031 25000 SH SOLE 25000 0 0
ADVANCED MICRO DEVICES INC COM 007903107 7396 416700 SH SOLE 416700 0 0
ADVANTA CORP CL A 007942105 864 32900 SH SOLE 32900 0 0
AEGON N V ORD AMER REG 007924103 3297 36791 SH SOLE 36791 0 0
AEROQUIP-VICKERS INC COM 007869100 2021 41200 SH SOLE 41200 0 0
AES CORP COM 00130H105 20487 439400 SH SOLE 439400 0 0
AETNA INC COM 008117103 727 10300 SH SOLE 10300 0 0
AFLAC INC COM 001055102 10174 199000 SH SOLE 199000 0 0
AGCO CORP COM 001084102 2328 79600 SH SOLE 79600 0 0
AGOURON PHARMACEUTICALS INC COM 008488108 1366 46500 SH SOLE 46500 0 0
AGRIUM INC COM 008916108 710 83361 SH SOLE 83361 0 0
AHMANSON H F & CO COM 008677106 31420 469400 SH SOLE 469400 0 0
AIR EXPRESS INTL CORP COM 009104100 1106 36250 SH SOLE 36250 0 0
AIRBORNE FGHT CORP COM 009266107 7548 121500 SH SOLE 121500 0 0
AJL PEPS TR PEPS EXCH AJL 009710104 3410 310000 SH SOLE 310000 0 0
AK STL HLDG CORP COM 001547108 1143 64600 SH SOLE 64600 0 0
ALASKA AIR GROUP INC COM 011659109 674 17400 SH SOLE 17400 0 0
ALBANK FINL CORP COM 012046108 828 16100 SH SOLE 16100 0 0
ALBEMARLE CORP COM 012653101 1635 68500 SH SOLE 68500 0 0
ALBERTA ENERGY LTD COM 012873105 226 16700 SH SOLE 16700 0 0
ALBERTO CULVER CO CL B CONV 013068101 494 15400 SH SOLE 15400 0 0
ALBERTSONS INC COM 013104104 26366 558000 SH SOLE 558000 0 0
ALCAN ALUMINIUM LTD NEW COM 013716105 1635 59200 SH SOLE 59200 0 0
ALLEGHANY CORP DEL COM 017175100 1983 6963 SH SOLE 6963 0 0
ALLEGHENY ENERGY INC COM 017361106 6854 210900 SH SOLE 210900 0 0
ALLERGAN INC COM 018490102 3873 115400 SH SOLE 115400 0 0
ALLIANCE SEMICONDUCTOR CORP COM 01877H100 248 54300 SH SOLE 54300 0 0
ALLIANT TECHSYSTEMS INC COM 018804104 513 9200 SH SOLE 9200 0 0
ALLIED GROUP INC COM 019220102 1597 55800 SH SOLE 55800 0 0
ALLSTATE CORP COM 020002101 4686 51783 SH SOLE 51783 0 0
ALPHARMA INC CL A 020813101 639 29400 SH SOLE 29400 0 0
ALUMAX INC COM 022197107 2781 81200 SH SOLE 81200 0 0
AMB PROPERTY CORP COM 00163T109 628 25000 SH SOLE 25000 0 0
AMBAC FINL GROUP INC COM 023139108 6642 144400 SH SOLE 144400 0 0
AMBASSADOR APTS INC COM 02316A102 582 28300 SH SOLE 28300 0 0
AMCAST INDL CORP COM 023395106 3711 161800 SH SOLE 161800 0 0
AMCOL INTL CORP COM 02341W103 174 10950 SH SOLE 10950 0 0
AMERADA HESS CORP COM 023551104 1235 22500 SH SOLE 22500 0 0
AMERCO COM 023586100 356 13900 SH SOLE 13900 0 0
AMERICA ONLINE INC DEL COM 02364J104 4073 45000 SH SOLE 45000 0 0
AMERICA WEST HLDG CORP CL B 023657208 1131 60700 SH SOLE 60700 0 0
AMERICAN ANNUITY GROUP INC COM 023840101 1005 45700 SH SOLE 45700 0 0
AMERICAN BANKERS INS GROUP INC COM 024456105 2770 60300 SH SOLE 60300 0 0
AMERICAN BUSINESS PRODS GA COM 024763104 489 22600 SH SOLE 22600 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 ELEC PWR INC COM 025537101 17016 329600 SH SOLE 329600 0 0
AMERICAN EXPRESS CO COM 025816109 2410 27000 SH SOLE 27000 0 0
AMERICAN FINL GROUP INC OHIO COM 025932104 1012 25100 SH SOLE 25100 0 0
AMERICAN GEN HOSPITALITY CORP COM 025930108 2937 109800 SH SOLE 109800 0 0
AMERICAN GENERAL CORP COM 026351106 2359 43639 SH SOLE 43639 0 0
AMERICAN GREETINGS CORP CL A 026375105 1577 40300 SH SOLE 40300 0 0
AMERICAN HERITAGE LIFE INVT COM 026522102 1064 29549 SH SOLE 29549 0 0
AMERICAN HOME PRODS CORP COM 026609107 4172 54540 SH SOLE 54540 0 0
AMERICAN NATL INS CO COM 028591105 2548 27400 SH SOLE 27400 0 0
AMERICAN PWR CONVERSION CORP COM 029066107 3225 136500 SH SOLE 136500 0 0
AMERICAN STORES CO NEW COM 030096101 5903 287100 SH SOLE 287100 0 0
AMERICAN WTR WKS INC COM 030411102 1740 63700 SH SOLE 63700 0 0
AMERICREDIT CORP COM 03060R101 756 27300 SH SOLE 27300 0 0
AMERISOURCE HEALTH CORP CL A 03071P102 868 14900 SH SOLE 14900 0 0
AMERITECH CORP NEW COM 030954101 8428 104700 SH SOLE 104700 0 0
AMERON INTL INC COM 030710107 1347 21300 SH SOLE 21300 0 0
AMGEN INC COM 031162100 319 5900 SH SOLE 5900 0 0
AMLI RESIDENTIAL PPTYS TR SH BEN INT 001735109 772 34700 SH SOLE 34700 0 0
AMOCO CORP COM 031905102 247 2900 SH SOLE 2900 0 0
AMPHENOL CORP NEW CL A 032095101 551 9900 SH SOLE 9900 0 0
AMR CORP COM 001765106 1015 7900 SH SOLE 7900 0 0
AMRESCO INC COM 031909104 974 32200 SH SOLE 32200 0 0
AMSOUTH BANCORPORATION COM 032165102 8212 151200 SH SOLE 151200 0 0
ANCHOR GAMING COM 033037102 1371 24600 SH SOLE 24600 0 0
ANHEUSER BUSCH COS INC COM 035229103 45562 1035500 SH SOLE 1035500 0 0
ANIXTER INTL INC COM 035290105 723 43800 SH SOLE 43800 0 0
ANNTAYLOR STORES CORP COM 036115103 757 56600 SH SOLE 56600 0 0
ANTEC CORP COM 03664P105 1303 83400 SH SOLE 83400 0 0
AON CORP COM 037389103 941 16050 SH SOLE 16050 0 0
APACHE CORP COM 037411105 1813 51700 SH SOLE 51700 0 0
APARTMENT INVT & MGMT CO CL A 03748R101 4531 123300 SH SOLE 123300 0 0
APOLLO GROUP INC CL A 037604105 647 13700 SH SOLE 13700 0 0
APPLIED MATLS INC COM 038222105 45269 1502700 SH SOLE 1502700 0 0
APPLIED PWR INC CL A 038225108 2981 43200 SH SOLE 43200 0 0
APRIA HEALTHCARE GROUP INC COM 037933108 955 71100 SH SOLE 71100 0 0
ARCH COAL INC COM 039380100 2020 73800 SH SOLE 73800 0 0
ARCHER DANIELS MIDLAND CO COM 039483102 20309 936468 SH SOLE 936468 0 0
ARCTIC CAT INC COM 039670104 1264 130525 SH SOLE 130525 0 0
ARDEN RLTY GROUP INC COM 039793104 4969 161600 SH SOLE 161600 0 0
ARGONAUT GROUP INC COM 040157109 908 26800 SH SOLE 26800 0 0
ARMCO INC COM 042170100 458 92800 SH SOLE 92800 0 0
ARROW ELECTRS INC COM 042735100 986 30400 SH SOLE 30400 0 0
ARROW INTL INC COM 042764100 862 23300 SH SOLE 23300 0 0
ARVIN INDS INC COM 043339100 1186 35600 SH SOLE 35600 0 0
ASA HLDGS INC COM 04338Q107 722 25400 SH SOLE 25400 0 0
ASARCO INC COM 043413103 2378 106000 SH SOLE 106000 0 0
ASM INTL N V COM N07045102 23485 2703511 SH SOLE 2703511 0 0
ASSOCIATED BANC CORP COM 045487105 420 7624 SH SOLE 7624 0 0
ASSOCIATED ESTATES RLTY CORP COM 045604105 456 19200 SH SOLE 19200 0 0
ASTORIA FINL CORP COM 046265104 1756 31500 SH SOLE 31500 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
AT&T CORP COM 001957109 67921 1107790 SH SOLE 1107790 0 0
ATLANTIC ENERGY INC N J COM 048903108 3903 184200 SH SOLE 184200 0 0
ATLANTIC RICHFIELD CO COM 048825103 45166 563700 SH SOLE 563700 0 0
ATWOOD OCEANICS INC COM 050095108 540 11400 SH SOLE 11400 0 0
AUTODESK INC COM 052769106 2353 63600 SH SOLE 63600 0 0
AUTOZONE INC COM 053332102 5536 190900 SH SOLE 190900 0 0
AVALON PPTYS INC COM 053469102 2153 69600 SH SOLE 69600 0 0
AVANT CORP COM 053487104 464 27700 SH SOLE 27700 0 0
AVENOR INC COM 05356K104 1013 102200 SH SOLE 102200 0 0
AVIALL INC NEW COM 05366B102 2151 144000 SH SOLE 144000 0 0
AVID TECHNOLOGY INC COM 05367P100 1942 72600 SH SOLE 72600 0 0
AVNET INC COM 053807103 7003 106100 SH SOLE 106100 0 0
AZTAR CORP COM 054802103 1011 158600 SH SOLE 158600 0 0
BALDWIN & LYONS INC CL B 057755209 767 31800 SH SOLE 31800 0 0
BALL CORP COM 058498106 1252 35400 SH SOLE 35400 0 0
BALLARD MED PRODS COM 058566100 1215 50100 SH SOLE 50100 0 0
BALTIMORE GAS & ELEC CO COM 059165100 15865 464900 SH SOLE 464900 0 0
BANC ONE CORP COM 059438101 7894 145340 SH SOLE 145340 0 0
BANCO GANADERO S A SPONSRD ADR B 059594408 1340 30800 SH SOLE 30800 0 0
BANCO SANTIAGO SP ADR REP COM 05965L105 2857 128400 SH SOLE 128400 0 0
BANCTEC INC COM 059784108 595 22200 SH SOLE 22200 0 0
BANDAG INC COM 059815100 3260 61000 SH SOLE 61000 0 0
BANK MONTREAL QUE COM 063671101 372 12000 SH SOLE 12000 0 0
BANK NEW YORK INC COM 064057102 5885 101800 SH SOLE 101800 0 0
BANKAMERICA CORP COM 066050105 4395 60200 SH SOLE 60200 0 0
BANKBOSTON CORP COM 06605R106 33620 357900 SH SOLE 357900 0 0
BANKERS TRUST N Y CORP COM 066365107 21598 192090 SH SOLE 192090 0 0
BANTA CORP COM 066821109 1624 60150 SH SOLE 60150 0 0
BARD C R INC COM 067383109 1775 56700 SH SOLE 56700 0 0
BARNES & NOBLE INC COM 067774109 1055 31600 SH SOLE 31600 0 0
BARNES GROUP INC COM 067806109 1467 64500 SH SOLE 64500 0 0
BARNETT BKS INC COM 068055102 30590 425600 SH SOLE 425600 0 0
BASSETT FURNITURE INDS INC COM 070203104 651 21700 SH SOLE 21700 0 0
BAY APT CMNTYS INC COM 072012107 846 21700 SH SOLE 21700 0 0
BAY NETWORKS INC COM 072510100 7559 295000 SH SOLE 295000 0 0
BCE INC COM 05534B109 12403 532810 SH SOLE 532810 0 0
BCE MOBILE COMMUNICATION INC COM 05534G108 478 27200 SH SOLE 27200 0 0
BE AEROSPACE INC COM 073302101 313 11700 SH SOLE 11700 0 0
BEAR STEARNS COS INC COM 073902108 13740 289264 SH SOLE 289264 0 0
BECKMAN INSTRS INC NEW COM 075816108 1476 36900 SH SOLE 36900 0 0
BECTON DICKINSON & CO COM 075887109 4300 86000 SH SOLE 86000 0 0
BED BATH & BEYOND INC COM 075896100 3145 81700 SH SOLE 81700 0 0
BEDFORD PPTY INVS INC COM PAR $0.02 076446301 1844 84300 SH SOLE 84300 0 0
BELL ATLANTIC CORP COM 077853109 34176 375560 SH SOLE 375560 0 0
BELLSOUTH CORP COM 079860102 1278 22700 SH SOLE 22700 0 0
BELO A H CORP DEL COM SER A 080555105 589 10500 SH SOLE 10500 0 0
BENEFICIAL CORP COM 081721102 8479 102000 SH SOLE 102000 0 0
BERGEN BRUNSWIG CORP CL A 083739102 2633 62500 SH SOLE 62500 0 0
BERKLEY W R CORP COM 084423102 2058 46900 SH SOLE 46900 0 0
BERKSHIRE RLTY INC COM 084710102 842 70200 SH SOLE 70200 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
BERLITZ INTL INC NEW COM 08520F100 820 31700 SH SOLE 31700 0 0
BEST BUY INC COM 086516101 3901 105800 SH SOLE 105800 0 0
BETHLEHEM STL CORP COM 087509105 2790 321200 SH SOLE 321200 0 0
BEVERLY ENTERPRISES INC COM NEW 087851309 2440 187700 SH SOLE 187700 0 0
BHC COMMUNICATIONS INC CL A 055448104 4233 32500 SH SOLE 32500 0 0
BINDLEY WESTN INDS INC COM 090324104 2007 65000 SH SOLE 65000 0 0
BIOCHEM PHARMA INC COM 09058T108 1419 97300 SH SOLE 97300 0 0
BIOMET INC COM 090613100 3016 117700 SH SOLE 117700 0 0
BIRMINGHAM STL CORP COM 091250100 699 44400 SH SOLE 44400 0 0
BJ SVCS CO COM 055482103 5964 82900 SH SOLE 82900 0 0
BLOCK DRUG INC CL A 093644102 798 18461 SH SOLE 18461 0 0
BLOCK H & R INC COM 093671105 4481 100000 SH SOLE 100000 0 0
BLUE SQUARE - ISRAEL LTD SPONSORED ADR 096055108 516 41700 SH SOLE 41700 0 0
BLYTH INDS INC COM 09643P108 596 19900 SH SOLE 19900 0 0
BMC SOFTWARE INC COM 055921100 860 13100 SH SOLE 13100 0 0
BOB EVANS FARMS INC COM 096761101 934 42200 SH SOLE 42200 0 0
BOEING CO COM 097023105 4712 96290 SH SOLE 96290 0 0
BOISE CASCADE CORP COM 097383103 2102 69500 SH SOLE 69500 0 0
BOK FINL CORP COM NEW 05561Q201 2165 55772 SH SOLE 55772 0 0
BORDERS GROUP INC COM 099709107 2655 84800 SH SOLE 84800 0 0
BORG-WARNER AUTOMOTIVE INC COM 099724106 2434 46800 SH SOLE 46800 0 0
BOSTON EDISON CO COM 100599109 3708 97900 SH SOLE 97900 0 0
BOSTON PROPERTIES INC COM 101121101 3660 110700 SH SOLE 110700 0 0
BOSTON SCIENTIFIC CORP COM 101137107 830 18100 SH SOLE 18100 0 0
BOSTON TECHNOLOGY INC COM NEW 101143303 462 18400 SH SOLE 18400 0 0
BOWATER INC COM 102183100 5021 113000 SH SOLE 113000 0 0
BOWNE & CO INC COM 103043105 1513 37700 SH SOLE 37700 0 0
BOYKIN LODGING CO COM 103430104 983 37200 SH SOLE 37200 0 0
BRADLEY REAL ESTATE INC COM 104580105 1581 75300 SH SOLE 75300 0 0
BRANDYWINE RLTY TR SH BEN INT NEW 105368203 3621 144100 SH SOLE 144100 0 0
BRE PROPERTIES INC CL A 05564E106 2749 97300 SH SOLE 97300 0 0
BREED TECHNOLOGIES INC COM 106702103 498 27300 SH SOLE 27300 0 0
BRINKER INTL INC COM 109641100 830 51900 SH SOLE 51900 0 0
BRISTOL MYERS SQUIBB CO COM 110122108 91928 971500 SH SOLE 971500 0 0
BRODERBUND SOFTWARE INC COM 112014105 2288 89300 SH SOLE 89300 0 0
BROWN GROUP INC COM 115657108 310 23300 SH SOLE 23300 0 0
BUFFETS INC COM 119882108 1481 158000 SH SOLE 158000 0 0
BURLINGTON COAT FACTORY COM 121579106 3112 189320 SH SOLE 189320 0 0
BURLINGTON INDS INC COM 121693105 1289 93300 SH SOLE 93300 0 0
BURLINGTON NORTHN SANTA FE CP COM 12189T104 42510 457400 SH SOLE 457400 0 0
BURLINGTON RES INC COM 122014103 224 5000 SH SOLE 5000 0 0
BURNHAM PAC PPTYS INC COM 12232C108 1104 72100 SH SOLE 72100 0 0
BURR BROWN CORP COM 122574106 896 27900 SH SOLE 27900 0 0
C D I CORP COM 125071100 343 7500 SH SOLE 7500 0 0
CABLEVISION SYS CORP CL A 12686C109 1341 14000 SH SOLE 14000 0 0
CABOT CORP COM 127055101 685 24800 SH SOLE 24800 0 0
CABOT OIL & GAS CORP CL A 127097103 519 26700 SH SOLE 26700 0 0
CADILLAC FAIRVIEW CORP COM 126929207 2350 100000 SH SOLE 100000 0 0
CALENERGY INC COM 129466108 1443 50200 SH SOLE 50200 0 0
CALIBER SYS INC COM 129894101 5059 103900 SH SOLE 103900 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
CALLAWAY GOLF CO COM 131193104 4856 170000 SH SOLE 170000 0 0
CALPINE CORP COM 131347106 521 35000 SH SOLE 35000 0 0
CAMCO INTL INC COM 132632100 1694 26600 SH SOLE 26600 0 0
CAMDEN PPTY TR SH BEN INT 133131102 2558 82504 SH SOLE 82504 0 0
CAMECO CORP COM 13321L108 376 16700 SH SOLE 16700 0 0
CANADIAN IMPERIAL BK COMM ONT COM 136069101 349 16000 SH SOLE 16000 0 0
CANADIAN MARCONI CO COM 136357100 454 50000 SH SOLE 50000 0 0
CANADIAN NATL RY CO COM 136375102 2949 89300 SH SOLE 89300 0 0
CANADIAN PAC LTD NEW COM 135923100 2188 80400 SH SOLE 80400 0 0
CANANDAIGUA BRANDS INC CL B 137219101 1796 31500 SH SOLE 31500 0 0
CAPITAL RE CORP COM 140432105 1390 22400 SH SOLE 22400 0 0
CAPSTAR HOTEL CO COM 140918103 858 25000 SH SOLE 25000 0 0
CARLISLE COS INC COM 142339100 547 12800 SH SOLE 12800 0 0
CARMIKE CINEMAS INC CL A 143436103 350 12200 SH SOLE 12200 0 0
CAROLINA PWR & LT CO COM 144141108 18971 447700 SH SOLE 447700 0 0
CARPENTER TECHNOLOGY CORP COM 144285103 1019 21200 SH SOLE 21200 0 0
CARRAMERICA RLTY CORP COM 144418100 7488 236300 SH SOLE 236300 0 0
CARSON PIRIE SCOTT & CO ILL COM 145903100 757 15100 SH SOLE 15100 0 0
CASE CORP COM 14743R103 212 3500 SH SOLE 3500 0 0
CASEYS GEN STORES INC COM 147528103 442 17400 SH SOLE 17400 0 0
CASH AMER INTL INC COM 14754D100 1251 96700 SH SOLE 96700 0 0
CATALINA MARKETING CORP COM 148867104 1443 31200 SH SOLE 31200 0 0
CATELLUS DEV CORP COM 149111106 16854 842700 SH SOLE 842700 0 0
CBL & ASSOC PPTYS INC COM 124830100 854 34600 SH SOLE 34600 0 0
CBS CORP COM 12490K107 4048 137500 SH SOLE 137500 0 0
CCB FINL CORP COM 124875105 1247 11600 SH SOLE 11600 0 0
CELLSTAR CORP COM 150925105 827 41600 SH SOLE 41600 0 0
CENTERPOINT PPTYS TR SH BEN INT 151895109 3140 89400 SH SOLE 89400 0 0
CENTEX CONSTRUCTION PRODUCTS COM 15231R109 795 26400 SH SOLE 26400 0 0
CENTEX CORP COM 152312104 5079 80700 SH SOLE 80700 0 0
CENTRAL & SOUTH WEST CORP COM 152357109 200 7400 SH SOLE 7400 0 0
CENTRAL HUDSON GAS & ELEC CORP COM 153609102 1027 23400 SH SOLE 23400 0 0
CENTRAL LA ELEC INC COM NEW 153897608 612 18900 SH SOLE 18900 0 0
CENTRAL MAINE PWR CO COM 154051106 1917 125700 SH SOLE 125700 0 0
CENTRAL NEWSPAPERS INC CL A 154647101 3823 51700 SH SOLE 51700 0 0
CENTRAL PKG CORP COM 154785109 1162 25650 SH SOLE 25650 0 0
CENTURY TEL ENTERPRISES INC COM 156686107 3945 79200 SH SOLE 79200 0 0
CERNER CORP COM 156782104 589 27900 SH SOLE 27900 0 0
CHAMPION INTL CORP COM 158525105 9579 211400 SH SOLE 211400 0 0
CHAPARRAL STL CO COM 159422104 843 54600 SH SOLE 54600 0 0
CHARMING SHOPPES INC COM 161133103 576 122800 SH SOLE 122800 0 0
CHARTER ONE FINL INC COM 160903100 204 3236 SH SOLE 3236 0 0
CHASE MANHATTAN CORP NEW COM 16161A108 57999 529672 SH SOLE 529672 0 0
CHATEAU CMNTYS INC COM 161726104 2167 68800 SH SOLE 68800 0 0
CHELSEA GCA RLTY INC COM 163262108 768 20100 SH SOLE 20100 0 0
CHEMED CORP COM 163596109 489 11800 SH SOLE 11800 0 0
CHESAPEAKE CORP COM 165159104 1980 57600 SH SOLE 57600 0 0
CHEVRON CORPORATION COM 166751107 7238 94000 SH SOLE 94000 0 0
CHILE FD INC COM 168834109 392 22000 SH SOLE 22000 0 0
CHILGENER S A SPONSORED ADR 168894103 15589 636290 SH SOLE 636290 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
CHIQUITA BRANDS INTL INC COM 170032106 1065 65300 SH SOLE 65300 0 0
CHRIS CRAFT INDS INC COM 170520100 1765 33733 SH SOLE 33733 0 0
CHRYSLER CORP COM 171196108 1087 30900 SH SOLE 30900 0 0
CHUBB CORP COM 171232101 393 5200 SH SOLE 5200 0 0
CIGNA CORP COM 125509109 552 3200 SH SOLE 3200 0 0
CILCORP INC COM 171794100 523 10700 SH SOLE 10700 0 0
CINCINNATI BELL INC COM 171870108 2452 79100 SH SOLE 79100 0 0
CINCINNATI MILACRON INC COM 172172108 3424 132000 SH SOLE 132000 0 0
CINERGY CORP COM 172474108 17761 463600 SH SOLE 463600 0 0
CIRRUS LOGIC CORP COM 172755100 248 23300 SH SOLE 23300 0 0
CISCO SYS INC COM 17275R102 1079 19350 SH SOLE 19350 0 0
CITICORP COM 173034109 14603 115499 SH SOLE 115499 0 0
CITIZENS BKG CORP MICH COM 174420109 1211 35100 SH SOLE 35100 0 0
CITIZENS CORP COM 174533109 1527 53100 SH SOLE 53100 0 0
CITIZENS UTILS CO DEL CL B 177342201 2379 247142 SH SOLE 247142 0 0
CITRIX SYS INC COM 177376100 4104 54000 SH SOLE 54000 0 0
CITY NATL CORP COM 178566105 377 10200 SH SOLE 10200 0 0
CKE RESTAURANTS INC COM 12561E105 1622 38500 SH SOLE 38500 0 0
CLAIRE'S STORES INC COM 179584107 544 28000 SH SOLE 28000 0 0
CLAYTON HOMES INC COM 184190106 2364 131350 SH SOLE 131350 0 0
CLEAR CHANNEL COMMUNICATIONS COM 184502102 238 3000 SH SOLE 3000 0 0
CLEVELAND CLIFFS INC COM 185896107 880 19200 SH SOLE 19200 0 0
CMAC INVT CORP COM 125662106 1443 23900 SH SOLE 23900 0 0
CMS ENERGY CORP COM 125896100 8420 191100 SH SOLE 191100 0 0
CNA FINL CORP COM 126117100 3434 26884 SH SOLE 26884 0 0
CNF TRANSN INC COM 12612W104 5181 133700 SH SOLE 133700 0 0
COASTAL CORP COM 190441105 8696 140400 SH SOLE 140400 0 0
COCA COLA CO COM 191216100 6809 102100 SH SOLE 102100 0 0
COCA COLA ENTERPRISES INC COM 191219104 20729 582900 SH SOLE 582900 0 0
COGNEX CORP COM 192422103 2548 93500 SH SOLE 93500 0 0
COHU INC COM 192576106 1057 34500 SH SOLE 34500 0 0
COLEMAN INC NEW COM 193559101 548 34100 SH SOLE 34100 0 0
COLGATE PALMOLIVE CO COM 194162103 4101 55800 SH SOLE 55800 0 0
COLONIAL PPTYS TR COM SH BEN INT 195872106 2202 73100 SH SOLE 73100 0 0
COLTEC INDS INC COM 196879100 702 30300 SH SOLE 30300 0 0
COLUMBIA GAS SYS INC COM 197648108 10111 128700 SH SOLE 128700 0 0
COLUMBIA/HCA HEALTHCARE CORP COM 197677107 5795 195600 SH SOLE 195600 0 0
COMAIR HOLDINGS INC COM 199789108 2210 91600 SH SOLE 91600 0 0
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COMPANIA ANONIMA NACIONL TEL SPN ADR 7D SHS 204421101 5940 142700 SH SOLE 142700 0 0
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COMPAQ COMPUTER CORP COM 204493100 81094 1435288 SH SOLE 1435288 0 0
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<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
COMPUSA INC COM 204932107 1308 42200 SH SOLE 42200 0 0
COMPUTER ASSOC INTL INC COM 204912109 1060 20000 SH SOLE 20000 0 0
COMPUTER HORIZONS CORP COM 205908106 337 7400 SH SOLE 7400 0 0
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COMSAT CORP COM SER 1 20564D107 1831 75500 SH SOLE 75500 0 0
COMVERSE TECHNOLOGY INC COM PAR $0.10 205862402 289 7400 SH SOLE 7400 0 0
CONCENTRA MANAGED CARE INC COM 20589T103 412 12200 SH SOLE 12200 0 0
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CONE MLS CORP N C COM 206814105 828 106800 SH SOLE 106800 0 0
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COOPER CAMERON CORP COM 216640102 1068 17500 SH SOLE 17500 0 0
COOPER INDS INC COM 216669101 3028 61800 SH SOLE 61800 0 0
COOPER TIRE & RUBR CO COM 216831107 1375 56400 SH SOLE 56400 0 0
COORS ADOLPH CO CL B 217016104 3192 96000 SH SOLE 96000 0 0
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CORESTAFF INC COM 218690105 1116 42100 SH SOLE 42100 0 0
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CORNING INC COM 219350105 13937 375400 SH SOLE 375400 0 0
CORUS BANKSHARES INC COM 220873103 629 15900 SH SOLE 15900 0 0
COSTCO COMPANIES INC COM 22160Q102 24588 551000 SH SOLE 551000 0 0
COTT CORP QUE COM 22163N106 933 158300 SH SOLE 158300 0 0
COUNTRYWIDE CR INDS INC DEL COM 222372104 5488 128000 SH SOLE 128000 0 0
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<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
DATA GEN CORP COM 237688106 2028 116300 SH SOLE 116300 0 0
DAYTON HUDSON CORP COM 239753106 19109 283100 SH SOLE 283100 0 0
DE BEERS CONS MINES LTD ADR DEFD 240253302 294 14400 SH SOLE 14400 0 0
DEAN FOODS CO COM 242361103 7245 121250 SH SOLE 121250 0 0
DEKALB GENETICS CORP CL B 244878203 1201 30600 SH SOLE 30600 0 0
DELL COMPUTER CORP COM 247025109 52164 621000 SH SOLE 621000 0 0
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DELTA AIR LINES INC DEL COM 247361108 214 1800 SH SOLE 1800 0 0
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DESC S A DE C V SPONSRD ADR C 250309101 5213 139000 SH SOLE 139000 0 0
DETROIT DIESEL CORP COM 250837101 1461 61500 SH SOLE 61500 0 0
DEVELOPERS DIVERSIFIED RLTY CO COM 251591103 3137 82000 SH SOLE 82000 0 0
DEVON GROUP INC NEW COM 251801106 1178 25600 SH SOLE 25600 0 0
DEXTER CORP COM 252165105 328 7600 SH SOLE 7600 0 0
DIEBOLD INC COM 253651103 203 4000 SH SOLE 4000 0 0
DIGITAL EQUIP CORP COM 253849103 2324 62600 SH SOLE 62600 0 0
DIGITAL MICROWAVE CORP COM 253859102 548 37800 SH SOLE 37800 0 0
DILLARDS INC CL A 254067101 7403 210000 SH SOLE 210000 0 0
DIME BANCORP INC NEW COM 25429Q102 15415 509571 SH SOLE 509571 0 0
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DIONEX CORP COM 254546104 488 9800 SH SOLE 9800 0 0
DISNEY WALT CO COM 254687106 2891 29200 SH SOLE 29200 0 0
DOLLAR GEN CORP COM 256669102 6284 173343 SH SOLE 173343 0 0
DOLLAR TREE STORES INC COM 256747106 1099 26550 SH SOLE 26550 0 0
DOMINION RES INC VA COM 257470104 13050 306600 SH SOLE 306600 0 0
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DQE INC COM 23329J104 5906 168150 SH SOLE 168150 0 0
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DUN & BRADSTREET CORP COM 264830100 377 12200 SH SOLE 12200 0 0
DURA PHARMACEUTICALS INC COM 26632S109 422 9200 SH SOLE 9200 0 0
E M C CORP MASS COM 268648102 18542 675800 SH SOLE 675800 0 0
EAGLE HARDWARE & GARDEN INC COM 26959B101 233 12000 SH SOLE 12000 0 0
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<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
EASTGROUP PPTY INC COM 277276101 2827 130750 SH SOLE 130750 0 0
EASTMAN CHEM CO COM 277432100 6945 116600 SH SOLE 116600 0 0
EASTMAN KODAK CO COM 277461109 27065 446900 SH SOLE 446900 0 0
EATON VANCE CORP COM NON VTG 278265103 1959 51900 SH SOLE 51900 0 0
ECHLIN INC COM 278749106 767 21200 SH SOLE 21200 0 0
ECHO BAY MINES LTD COM 278751102 188 110200 SH SOLE 110200 0 0
ECI TELECOM LTD ORD 268258100 1568 61500 SH SOLE 61500 0 0
EDISON INTL COM 281020107 24213 890600 SH SOLE 890600 0 0
EDPERBRASCAN CORP CL A LTD VT SH 280905803 1066 84150 SH SOLE 84150 0 0
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EG & G INC COM 268457108 793 38100 SH SOLE 38100 0 0
EL PASO ELEC CO COM NEW 283677854 1014 138700 SH SOLE 138700 0 0
EL PASO NAT GAS CO COM NEW 283695872 605 9100 SH SOLE 9100 0 0
ELBIT MEDICAL IMAGING LTD ORD M37605108 216 33200 SH SOLE 33200 0 0
ELCOR CORP COM 284443108 452 18850 SH SOLE 18850 0 0
ELECTRO RENT CORP COM 285218103 1155 32300 SH SOLE 32300 0 0
ELECTRO SCIENTIFIC INDS COM 285229100 2664 70100 SH SOLE 70100 0 0
ELECTROGLAS INC COM 285324109 2438 157900 SH SOLE 157900 0 0
ELECTRONIC DATA SYS NEW COM 285661104 347 7900 SH SOLE 7900 0 0
ELECTRONICS FOR IMAGING INC COM 286082102 208 12500 SH SOLE 12500 0 0
EMBOTELLADORA ANDINA S A SPONS ADR A 29081P204 687 33000 SH SOLE 33000 0 0
EMERSON ELEC CO COM 291011104 203 3600 SH SOLE 3600 0 0
EMPRESA NACIONAL DE ELCTRCIDAD SPONSORED ADR 29244T101 10524 595000 SH SOLE 595000 0 0
EMPRESAS ICA SOCIEDAD CONTRLAD SPONSORED ADR 292448107 5464 332400 SH SOLE 332400 0 0
EMPRESAS TELEX CHILE S A SPONSORED ADR 29245D105 63 16000 SH SOLE 16000 0 0
ENERGEN CORP COM 29265N108 731 18400 SH SOLE 18400 0 0
ENERGY GROUP PLC SPONSORED ADR 292691102 1560 35000 SH SOLE 35000 0 0
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ENRON OIL & GAS CO COM 293562104 1102 52000 SH SOLE 52000 0 0
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ENTERGY CORP NEW COM 29364G103 29895 998600 SH SOLE 998600 0 0
EQUITABLE RES INC COM 294549100 2094 59200 SH SOLE 59200 0 0
EQUITY INNS INC COM 294703103 1746 118400 SH SOLE 118400 0 0
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EQUITY RESIDENTIAL PPTYS TR SH BEN INT 29476L107 16161 319625 SH SOLE 319625 0 0
ESSEX PPTY TR INC COM 297178105 2387 68200 SH SOLE 68200 0 0
ESTERLINE TECHNOLOGIES CORP COM 297425100 1033 28700 SH SOLE 28700 0 0
ETEC SYS INC COM 26922C103 377 8100 SH SOLE 8100 0 0
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EXABYTE CORP COM 300615101 350 54400 SH SOLE 54400 0 0
EXCEL RLTY TR INC COM 30067R107 2476 78600 SH SOLE 78600 0 0
EXPEDITORS INTL WASH INC COM 302130109 993 25800 SH SOLE 25800 0 0
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F M C CORP COM NEW 302491303 4227 62800 SH SOLE 62800 0 0
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<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
FALCON DRILLING INC COM 305914103 4527 129800 SH SOLE 129800 0 0
FAMILY DLR STORES INC COM 307000109 4347 148300 SH SOLE 148300 0 0
FARMER BROS CO COM 307675108 1159 6200 SH SOLE 6200 0 0
FASTENAL CO COM 311900104 1901 49700 SH SOLE 49700 0 0
FEDERAL EXPRESS CORP COM 313309106 13501 221100 SH SOLE 221100 0 0
FEDERAL HOME LN MTG CORP COM 313400301 1290 30752 SH SOLE 30752 0 0
FEDERAL MOGUL CORP COM 313549107 3102 76600 SH SOLE 76600 0 0
FEDERAL NATL MTG ASSN COM 313586109 3238 56750 SH SOLE 56750 0 0
FEDERAL REALTY INVT TR SH BEN INT NEW 313747206 2688 104400 SH SOLE 104400 0 0
FEDERAL SIGNAL CORP COM 313855108 649 30000 SH SOLE 30000 0 0
FEDERATED DEPT STORES INC DEL COM 31410H101 2993 69500 SH SOLE 69500 0 0
FELCOR SUITE HOTELS INC COM 314305103 5808 163600 SH SOLE 163600 0 0
FERRO CORP COM 315405100 383 15750 SH SOLE 15750 0 0
FINA INC CL A 31734L101 2118 33100 SH SOLE 33100 0 0
FINANCIAL SEC ASSURN HLDGS LTD COM 31769P100 1785 37000 SH SOLE 37000 0 0
FINGERHUT COS INC COM 317867109 3243 151700 SH SOLE 151700 0 0
FINOVA GROUP INC COM 317928109 234 4700 SH SOLE 4700 0 0
FIRST AMER BK CORP COM 318906104 8599 111500 SH SOLE 111500 0 0
FIRST AMERN FINL CORP COM 318522307 2135 28900 SH SOLE 28900 0 0
FIRST BRANDS CORP COM 319356101 1121 41600 SH SOLE 41600 0 0
FIRST CHICAGO NBD CORP COM 31945A100 2062 24700 SH SOLE 24700 0 0
FIRST COMM CORP COM 319779104 578 8600 SH SOLE 8600 0 0
FIRST CTZNS BANCSHARES INC N C CL A 31946M103 2049 19700 SH SOLE 19700 0 0
FIRST EMPIRE ST CORP COM 320076102 1581 3400 SH SOLE 3400 0 0
FIRST FINL BANCORP OH COM 320209109 554 11480 SH SOLE 11480 0 0
FIRST HAWAIIAN INC COM 320506108 2035 51200 SH SOLE 51200 0 0
FIRST INDUSTRIAL REALTY TRUST COM 32054K103 6322 175000 SH SOLE 175000 0 0
FIRST MIDWEST BANCORP DEL COM 320867104 220 5025 SH SOLE 5025 0 0
FIRST SEC CORP DEL COM 336294103 283 6750 SH SOLE 6750 0 0
FIRST UN CORP COM 337358105 2616 51050 SH SOLE 51050 0 0
FIRST UN REAL EST EQ&MTG INVTS SH BEN INT 337400105 8929 549500 SH SOLE 549500 0 0
FIRST VA BANKS INC COM 337477103 2693 52100 SH SOLE 52100 0 0
FIRST WASH RLTY TR INC COM 337489504 545 19800 SH SOLE 19800 0 0
FIRSTBANK ILL CO COM 337613103 344 9350 SH SOLE 9350 0 0
FIRSTBANK P R SAN JUAN COM 33761K105 998 29300 SH SOLE 29300 0 0
FIRSTENERGY CORP COM 337932107 2287 78875 SH SOLE 78875 0 0
FIRSTFED FINL CORP COM 337907109 1445 37300 SH SOLE 37300 0 0
FISHER SCIENTIFIC INTL INC COM 338032105 879 18400 SH SOLE 18400 0 0
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FLEMING COS INC COM 339130106 1207 89800 SH SOLE 89800 0 0
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FLORIDA PROGRESS CORP COM 341109106 9353 238300 SH SOLE 238300 0 0
FLORIDA ROCK INDS INC COM 341140101 1372 60300 SH SOLE 60300 0 0
FLOWERS INDS INC COM 343496105 806 39200 SH SOLE 39200 0 0
FLUKE CORP COM 343856100 347 13300 SH SOLE 13300 0 0
FOOD LION INC CL B 344775101 206 25000 SH SOLE 25000 0 0
FOODMAKER INC NEW COM NEW 344839204 1249 82900 SH SOLE 82900 0 0
FORD MTR CO DEL COM 345370100 54851 1129500 SH SOLE 1129500 0 0
FOREST LABS INC CL A 345838106 459 9300 SH SOLE 9300 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
FORT JAMES CORP COM 347471104 6503 170000 SH SOLE 170000 0 0
FORTUNE BRANDS INC COM 349631101 19272 520000 SH SOLE 520000 0 0
FOSTER WHEELER CORP COM 350244109 603 22300 SH SOLE 22300 0 0
FOUNDATION HEALTH SYS INC COM 350404109 7751 348340 SH SOLE 348340 0 0
FPL GROUP INC COM 302571104 21899 370000 SH SOLE 370000 0 0
FRANCHISE FIN CORP AMER COM 351807102 4069 150700 SH SOLE 150700 0 0
FRANKLIN COVEY CO COM 353469109 1080 49100 SH SOLE 49100 0 0
FRANKLIN ELEC INC COM 353514102 508 7900 SH SOLE 7900 0 0
FRANKLIN RES INC COM 354613101 15431 177500 SH SOLE 177500 0 0
FREMONT GEN CORP COM 357288109 4523 82615 SH SOLE 82615 0 0
FRONTIER INS GROUP INC NEW COM 359081106 792 34618 SH SOLE 34618 0 0
FRUIT OF THE LOOM INC CL A 359416104 1440 56200 SH SOLE 56200 0 0
FULLER H B CO COM 359694106 629 12700 SH SOLE 12700 0 0
FULTON FINL CORP PA COM 360271100 581 17880 SH SOLE 17880 0 0
FUND AMERN ENTERPRISES HLDGS COM 360768105 811 6700 SH SOLE 6700 0 0
FURNITURE BRANDS INTL INC COM 360921100 2366 115400 SH SOLE 115400 0 0
GALLAGHER ARTHUR J & CO COM 363576109 575 16700 SH SOLE 16700 0 0
GALLAHER GROUP PLC SPONSORED ADR 363595109 1010 47400 SH SOLE 47400 0 0
GANNETT INC COM 364730101 1051 17000 SH SOLE 17000 0 0
GAP INC DEL COM 364760108 11381 321150 SH SOLE 321150 0 0
GATEWAY 2000 INC COM 367833100 2371 72400 SH SOLE 72400 0 0
GATX CORP COM 361448103 3541 48800 SH SOLE 48800 0 0
GENCORP INC COM 368682100 1435 57400 SH SOLE 57400 0 0
GENERAL ELEC CO COM 369604103 43870 597884 SH SOLE 597884 0 0
GENERAL GROWTH PPTYS INC COM 370021107 3100 85800 SH SOLE 85800 0 0
GENERAL MTRS CORP COM 370442105 25211 415000 SH SOLE 415000 0 0
GENERAL NUTRITION COS INC COM 37047F103 1727 50800 SH SOLE 50800 0 0
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GEON CO COM 37246W105 418 17900 SH SOLE 17900 0 0
GEORGIA PAC CORP COM 373298108 16014 263600 SH SOLE 263600 0 0
GEORGIA PAC CORP COM-TIMBER GRP 373298702 5293 233300 SH SOLE 233300 0 0
GIBSON GREETINGS INC COM 374827103 580 26500 SH SOLE 26500 0 0
GILLETTE CO COM 375766102 1421 14146 SH SOLE 14146 0 0
GLENBOROUGH RLTY TR INC COM 37803P105 3508 118400 SH SOLE 118400 0 0
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GLOBAL INDS LTD COM 379336100 1046 61500 SH SOLE 61500 0 0
GOLDEN ST BANCORP INC COM 381197102 1793 47900 SH SOLE 47900 0 0
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GOODRICH B F CO COM 382388106 852 20570 SH SOLE 20570 0 0
GOODYEAR TIRE & RUBR CO COM 382550101 5682 89300 SH SOLE 89300 0 0
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GPU INC COM 36225X100 12937 307100 SH SOLE 307100 0 0
GRACO INC COM 384109104 257 6900 SH SOLE 6900 0 0
GRAINGER W W INC COM 384802104 5724 58900 SH SOLE 58900 0 0
GRAND CASINOS INC COM 385269105 1530 112300 SH SOLE 112300 0 0
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<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
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GREAT LAKES CHEM CORP COM 390568103 7760 173900 SH SOLE 173900 0 0
GREAT LAKES REIT INC COM 390752103 620 31900 SH SOLE 31900 0 0
GREENPOINT FINL CORP COM 395384100 10950 150900 SH SOLE 150900 0 0
GREIF BROS CORP CL A 397624107 405 12100 SH SOLE 12100 0 0
GREY ADVERTISING INC COM 397838103 2886 8800 SH SOLE 8800 0 0
GRIFFON CORP COM 398433102 1996 136500 SH SOLE 136500 0 0
GRUPO MEXICANO DE DESARROLLO SPND ADR B SHS 40048G104 16 80200 SH SOLE 80200 0 0
GRUPO TRIBASA S A DE C V SPONSORED ADR 40049F105 16626 2800400 SH SOLE 2800400 0 0
GTE CORP COM 362320103 17587 336600 SH SOLE 336600 0 0
GTECH HLDGS CORP COM 400518106 754 23600 SH SOLE 23600 0 0
GUILFORD MLS INC COM 401794102 1322 48300 SH SOLE 48300 0 0
GULF CDA RES LTD ORD 40218L305 1683 344000 SH SOLE 344000 0 0
HAAGEN ALEXANDER PPTYS INC COM 40443E100 368 21100 SH SOLE 21100 0 0
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HANDLEMAN CO DEL COM 410252100 586 84500 SH SOLE 84500 0 0
HANNA M A CO COM 410522106 518 20500 SH SOLE 20500 0 0
HANNAFORD BROS CO COM 410550107 1555 35800 SH SOLE 35800 0 0
HANSON PLC SPNSRD ADR NEW 411352404 575 25000 SH SOLE 25000 0 0
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HARLEYSVILLE GROUP INC COM 412824104 1147 47800 SH SOLE 47800 0 0
HARMAN INTL INDS INC COM 413086109 992 23200 SH SOLE 23200 0 0
HARNISCHFEGER INDS INC COM 413345109 886 25100 SH SOLE 25100 0 0
HARRAHS ENTMT INC COM 413619107 194 10300 SH SOLE 10300 0 0
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HARSCO CORP COM 415864107 802 18600 SH SOLE 18600 0 0
HARTFORD FINL SVCS GROUP INC COM 416515104 412 4400 SH SOLE 4400 0 0
HARTMARX CORP COM 417119104 273 35800 SH SOLE 35800 0 0
HASBRO INC COM 418056107 3479 110450 SH SOLE 110450 0 0
HAWAIIAN ELEC INDUSTRIES COM 419870100 1263 30900 SH SOLE 30900 0 0
HBO & CO COM 404100109 566 11800 SH SOLE 11800 0 0
HEALTH CARE & RETIREMENT DEL COM 421937103 998 24800 SH SOLE 24800 0 0
HEALTHCARE COMPARE CORP COM 421928102 2372 46400 SH SOLE 46400 0 0
HEARTLAND EXPRESS INC COM 422347104 710 26400 SH SOLE 26400 0 0
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HEINZ H J CO COM 423074103 18755 369100 SH SOLE 369100 0 0
HELIX TECHNOLOGY CORP COM 423319102 1168 59900 SH SOLE 59900 0 0
HELMERICH & PAYNE INC COM 423452101 1615 23800 SH SOLE 23800 0 0
HERSHEY FOODS CORP COM 427866108 3407 55000 SH SOLE 55000 0 0
HEWLETT PACKARD CO COM 428236103 2146 34400 SH SOLE 34400 0 0
HIGHWAYMASTER COMMUNICATIONS COM 431263102 65 11400 SH SOLE 11400 0 0
HIGHWOODS PPTYS INC COM 431284108 6132 164900 SH SOLE 164900 0 0
HILLENBRAND INDS INC COM 431573104 3399 66400 SH SOLE 66400 0 0
HNC SOFTWARE INC COM 40425P107 430 10000 SH SOLE 10000 0 0
HOLLINGER INC EQUITY UNIT 43556C309 454 78800 SH SOLE 78800 0 0
HOLLINGER INTL INC CL A 435569108 1306 93300 SH SOLE 93300 0 0
HOLLY CORP COM PAR $0.01 435758305 553 20000 SH SOLE 20000 0 0
HOME DEPOT INC COM 437076102 20041 340400 SH SOLE 340400 0 0
HOME PPTYS N Y INC COM 437306103 2550 93800 SH SOLE 93800 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
HOMEBASE INC COM 43738E108 1262 160200 SH SOLE 160200 0 0
HOMESTEAD VLG PPTYS INC COM 437851108 738 48981 SH SOLE 48981 0 0
HON INDS INC COM 438092108 2065 35000 SH SOLE 35000 0 0
HORACE MANN EDUCATORS CORP NEW COM 440327104 1951 68600 SH SOLE 68600 0 0
HORIZON GROUP INC COM 44041X106 153 14000 SH SOLE 14000 0 0
HORMEL FOODS CORP COM 440452100 1379 42100 SH SOLE 42100 0 0
HOSPITALITY PPTYS TR COM SH BEN INT 44106M102 2768 84200 SH SOLE 84200 0 0
HOUSEHOLD INTL INC COM 441815107 625 4900 SH SOLE 4900 0 0
HOUSTON INDS INC COM 442161105 7677 286997 SH SOLE 286997 0 0
HSN INC COM 40429R109 736 14300 SH SOLE 14300 0 0
HUDSON FOODS INC CL A 443782107 855 41600 SH SOLE 41600 0 0
HUNT J B TRANS SVCS INC COM 445658107 861 45900 SH SOLE 45900 0 0
HUTCHINSON TECHNOLOGY INC COM 448407106 1838 84000 SH SOLE 84000 0 0
HYPERION SOFTWARE INC COM 44914Q105 1494 41800 SH SOLE 41800 0 0
IBP INC COM 449223106 4644 221800 SH SOLE 221800 0 0
ICN PHARMACEUTICALS INC NEW COM 448924100 5620 114700 SH SOLE 114700 0 0
IES INDS INC COM 44949M103 747 20300 SH SOLE 20300 0 0
ILLINOIS CENT CORP COM SER A 451841100 743 21800 SH SOLE 21800 0 0
ILLINOVA CORP COM 452317100 4146 153900 SH SOLE 153900 0 0
IMMUNEX CORP NEW COM 452528102 486 9000 SH SOLE 9000 0 0
IMPERIAL OIL LTD COM NEW 453038408 5540 124001 SH SOLE 124001 0 0
INCO LTD COM 453258402 3947 300189 SH SOLE 300189 0 0
INDIA FD INC COM 454089103 625 84800 SH SOLE 84800 0 0
INFORMATION RES INC COM 456905108 586 43800 SH SOLE 43800 0 0
INGLES MKTS INC CL A 457030104 901 63200 SH SOLE 63200 0 0
INLAND STL INDS INC COM 457472108 1951 113900 SH SOLE 113900 0 0
INNKEEPERS USA TR COM 4576J0104 3106 200400 SH SOLE 200400 0 0
INPUT/OUTPUT INC COM 457652105 659 22200 SH SOLE 22200 0 0
INTEGRATED DEVICE TECHNOLOGY COM 458118106 840 89000 SH SOLE 89000 0 0
INTEGRATED HEALTH SVCS INC COM 45812C106 1229 39400 SH SOLE 39400 0 0
INTEGRATED PROCESS EQUIP CORP COM 45812K108 490 31100 SH SOLE 31100 0 0
INTEL CORP COM 458140100 114999 1637000 SH SOLE 1637000 0 0
INTERFACE INC CL A 458665106 1978 68200 SH SOLE 68200 0 0
INTERGRAPH CORP COM 458683109 1740 174000 SH SOLE 174000 0 0
INTERIM SVCS INC COM 45868P100 463 17900 SH SOLE 17900 0 0
INTERNATIONAL BUSINESS MACHS COM 459200101 66834 638800 SH SOLE 638800 0 0
INTERNATIONAL COMFORT PRODS CP ORD 458978103 66 11300 SH SOLE 11300 0 0
INTERNATIONAL DAIRY QUEEN INC CL A 459373205 629 23500 SH SOLE 23500 0 0
INTERNATIONAL GAME TECHNOLOGY COM 459902102 4151 164400 SH SOLE 164400 0 0
INTERNATIONAL MULTIFOODS CORP COM 460043102 1317 46500 SH SOLE 46500 0 0
INTERNATIONAL RECTIFIER CORP COM 460254105 413 35000 SH SOLE 35000 0 0
INTERPOOL INC COM 46062R108 973 65700 SH SOLE 65700 0 0
INTERPUBLIC GROUP COS INC COM 460690100 9848 197700 SH SOLE 197700 0 0
INTERRA FINL INC COM 46069M102 1628 23600 SH SOLE 23600 0 0
INTERSTATE BAKERIES CORP DEL COM 46072H108 5838 156200 SH SOLE 156200 0 0
INTL PAPER CO COM 460146103 2570 59600 SH SOLE 59600 0 0
IPSCO INC COM 462622101 1248 46300 SH SOLE 46300 0 0
IRT PPTY CO COM 450058102 1043 88300 SH SOLE 88300 0 0
IRVINE APT CMNTYS INC COM 463606103 1772 55700 SH SOLE 55700 0 0
ISPAT INTL N V CL A 464899103 260 12000 SH SOLE 12000 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
JABIL CIRCUIT INC COM 466313103 3478 87500 SH SOLE 87500 0 0
JACOBS ENGR GROUP INC DEL COM 469814107 825 32500 SH SOLE 32500 0 0
JAMESON INNS INC COM 470457102 471 40300 SH SOLE 40300 0 0
JDN RLTY CORP COM 465917102 1943 60000 SH SOLE 60000 0 0
JEFFERIES GROUP INC COM 472318104 1089 26600 SH SOLE 26600 0 0
JEFFERSON PILOT CORP COM 475070108 701 9000 SH SOLE 9000 0 0
JEFFERSON SMURFIT CORP NEW COM 475087102 1716 121500 SH SOLE 121500 0 0
JOHN ALDEN FINL CORP COM 477838106 1409 57800 SH SOLE 57800 0 0
JOHNSON & JOHNSON COM 478160104 39940 606300 SH SOLE 606300 0 0
JONES APPAREL GROUP INC COM 480074103 6983 162400 SH SOLE 162400 0 0
JP FOODSERVICE INC COM 466232105 700 18943 SH SOLE 18943 0 0
JP REALTY INC COM 46624A106 1753 67600 SH SOLE 67600 0 0
JSB FINANCIAL INC COM 46624M100 315 6300 SH SOLE 6300 0 0
JUSTIN INDS INC COM 482171105 1202 88200 SH SOLE 88200 0 0
K MART CORP COM 482584109 20386 1772700 SH SOLE 1772700 0 0
KAISER ALUMINUM CORP COM 483007100 877 98800 SH SOLE 98800 0 0
KAMAN CORP CL A 483548103 1575 96200 SH SOLE 96200 0 0
KANSAS CITY LIFE INS CO COM 484836101 1841 18600 SH SOLE 18600 0 0
KAUFMAN & BROAD HOME CORP COM 486168107 2421 107900 SH SOLE 107900 0 0
KAYDON CORP COM 486587108 630 19300 SH SOLE 19300 0 0
KCS ENERGY INC COM 482434206 396 19100 SH SOLE 19100 0 0
KEANE INC COM 486665102 3486 85800 SH SOLE 85800 0 0
KELLOGG CO COM 487836108 2898 58400 SH SOLE 58400 0 0
KELLWOOD CO COM 488044108 1455 48500 SH SOLE 48500 0 0
KELLY SVCS INC CL A 488152208 1296 43200 SH SOLE 43200 0 0
KEMET CORP COM 488360108 275 14200 SH SOLE 14200 0 0
KENNAMETAL INC COM 489170100 828 15900 SH SOLE 15900 0 0
KERR MCGEE CORP COM 492386107 443 7000 SH SOLE 7000 0 0
KEYCORP NEW COM 493267108 792 11184 SH SOLE 11184 0 0
KEYSPAN ENERGY CORP COM 493375109 1693 46000 SH SOLE 46000 0 0
KILROY RLTY CORP COM 49427F108 2757 95900 SH SOLE 95900 0 0
KIMBALL INTL INC CL B 494274103 855 46400 SH SOLE 46400 0 0
KIMCO REALTY CORP COM 49446R109 3345 94900 SH SOLE 94900 0 0
KINDER MORGAN ENERGY PARTNERS UT LTD PARTNER 494550106 2304 68000 SH SOLE 68000 0 0
KING WORLD PRODTNS INC COM 495667107 4142 71730 SH SOLE 71730 0 0
KLA-TENCORP CORP COM 482480100 1367 35400 SH SOLE 35400 0 0
KOGER EQUITY INC COM 500228101 1408 64200 SH SOLE 64200 0 0
KOHLS CORP COM 500255104 395 5800 SH SOLE 5800 0 0
KOMAG INC COM 500453105 796 53500 SH SOLE 53500 0 0
KOREA FD COM 500634100 2362 360000 SH SOLE 360000 0 0
KOREAN INVT FD INC COM 500637103 590 160000 SH SOLE 160000 0 0
KRANZCO RLTY TR COM SH BEN INT 50076E103 326 17000 SH SOLE 17000 0 0
KUHLMAN CORP COM 501206106 442 11300 SH SOLE 11300 0 0
KULICKE & SOFFA INDS INC COM 501242101 1790 96100 SH SOLE 96100 0 0
LA Z BOY INC COM 505336107 1233 28600 SH SOLE 28600 0 0
LABORATORY CORP AMER HLDGS COM 50540R102 827 472300 SH SOLE 472300 0 0
LAFARGE CORP COM 505862102 3205 108400 SH SOLE 108400 0 0
LAIDLAW INC COM 50730K503 1602 168235 SH SOLE 168235 0 0
LAM RESH CORP COM 512807108 2153 73600 SH SOLE 73600 0 0
LANCASTER COLONY CORP COM 513847103 2233 39610 SH SOLE 39610 0 0
<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
LANDS END INC COM 515086106 898 25600 SH SOLE 25600 0 0
LATTICE SEMICONDUCTOR CORP COM 518415104 1184 25000 SH SOLE 25000 0 0
LEAR CORP COM 521865105 1311 27600 SH SOLE 27600 0 0
LEE ENTERPRISES INC COM 523768109 236 8000 SH SOLE 8000 0 0
LEGG MASON INC COM 524901105 1346 24066 SH SOLE 24066 0 0
LEGGETT & PLATT INC COM 524660107 4389 104800 SH SOLE 104800 0 0
LEHMAN BROS HLDGS INC COM 524908100 10957 214840 SH SOLE 214840 0 0
LENNAR CORP COM 526057104 1115 51700 SH SOLE 51700 0 0
LEUCADIA NATL CORP COM 527288104 1256 36400 SH SOLE 36400 0 0
LEVEL ONE COMMUNICATIONS INC COM 527295109 444 15700 SH SOLE 15700 0 0
LEXINGTON CORP PPTYS INC COM 529039109 776 50300 SH SOLE 50300 0 0
LEXMARK INTL GROUP INC CL A 529771107 4210 110800 SH SOLE 110800 0 0
LG&E ENERGY CORP COM 501917108 2451 98800 SH SOLE 98800 0 0
LIBERTY CORP S C COM 530370105 1281 27400 SH SOLE 27400 0 0
LIBERTY FINL COS INC COM 530512102 2458 65100 SH SOLE 65100 0 0
LIBERTY PPTY TR SH BEN INT 531172104 7118 249200 SH SOLE 249200 0 0
LIFE RE CORP COM 532160108 2053 31500 SH SOLE 31500 0 0
LIFE USA HLDG INC COM NEW 531918209 528 31300 SH SOLE 31300 0 0
LILLY ELI & CO COM 532457108 8752 125700 SH SOLE 125700 0 0
LIMITED INC COM 532716107 14262 559300 SH SOLE 559300 0 0
LINCARE HLDGS INC COM 532791100 2502 43900 SH SOLE 43900 0 0
LINCOLN NATL CORP IND COM 534187109 5641 72200 SH SOLE 72200 0 0
LINEAR TECHNOLOGY CORP COM 535678106 818 14200 SH SOLE 14200 0 0
LITTON INDS INC COM 538021106 3490 60700 SH SOLE 60700 0 0
LIZ CLAIBORNE INC COM 539320101 3437 82200 SH SOLE 82200 0 0
LOCKHEED MARTIN CORP COM 539830109 7308 74188 SH SOLE 74188 0 0
LOEWEN GROUP INC COM 54042L100 229 12700 SH SOLE 12700 0 0
LOEWS CORP COM 540424108 27327 257500 SH SOLE 257500 0 0
LONE STAR INDS INC COM NEW 542290408 383 7200 SH SOLE 7200 0 0
LONE STAR TECHNOLOGIES INC COM 542312103 1064 37500 SH SOLE 37500 0 0
LONG IS BANCORP INC COM 542662101 382 7700 SH SOLE 7700 0 0
LONG ISLAND LTG CO COM 542671102 9529 316300 SH SOLE 316300 0 0
LONGS DRUG STORES CORP COM 543162101 2316 72100 SH SOLE 72100 0 0
LONGVIEW FIBRE CO COM 543213102 249 16400 SH SOLE 16400 0 0
LTV CORP NEW COM 501921100 1457 147500 SH SOLE 147500 0 0
LUBRIZOL CORP COM 549271104 2692 73000 SH SOLE 73000 0 0
LUBYS CAFETERIAS INC COM 549282101 486 27700 SH SOLE 27700 0 0
LUKENS INC DEL COM 549866101 3094 108100 SH SOLE 108100 0 0
LUXOTTICA GROUP S P A SPONSORED ADR 55068R202 1453 23250 SH SOLE 23250 0 0
LYDALL INC DEL COM 550819106 353 18100 SH SOLE 18100 0 0
LYONDELL PETROCHEMICAL CO COM 552078107 1850 69800 SH SOLE 69800 0 0
MACDERMID INC COM 554273102 1587 18700 SH SOLE 18700 0 0
MACERICH CO COM 554382101 1784 62600 SH SOLE 62600 0 0
MACFRUGALS BARGAINS CLOSE OUTS COM 554152108 1230 29900 SH SOLE 29900 0 0
MACK CALI RLTY CORP COM 554489104 10312 251500 SH SOLE 251500 0 0
MACMILLAN BLOEDEL LTD COM 554783209 4189 564239 SH SOLE 564239 0 0
MADERAS Y SINTETICOS SOCIEDAD SPONSORED ADR 556465102 1445 152100 SH SOLE 152100 0 0
MAGNA INTL INC CL A 559222401 2045 46600 SH SOLE 46600 0 0
MAGNETEK INC COM 559424106 1172 60100 SH SOLE 60100 0 0
MALLINCKRODT INC NEW COM 561232109 7057 185700 SH SOLE 185700 0 0
<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
MANITOWOC INC COM 563571108 1493 45925 SH SOLE 45925 0 0
MANPOWER INC COM 56418H100 1763 50000 SH SOLE 50000 0 0
MANUFACTURED HOME CMNTYS INC COM 564682102 2276 84300 SH SOLE 84300 0 0
MAPCO INC COM 565097102 2114 45700 SH SOLE 45700 0 0
MARCUS CORP COM 566330106 384 20850 SH SOLE 20850 0 0
MARINE DRILLING COS INC COM PAR $0.01 568240204 1038 50000 SH SOLE 50000 0 0
MARK CTRS TR COM SH BEN INT 570382101 98 10900 SH SOLE 10900 0 0
MARK IV INDS INC COM 570387100 1709 78105 SH SOLE 78105 0 0
MARQUETTE MED SYS INC COM 571490101 1906 71600 SH SOLE 71600 0 0
MARSHALL INDS COM 572393106 1044 34800 SH SOLE 34800 0 0
MARTIN MARIETTA MATLS INC COM 573284106 1543 42200 SH SOLE 42200 0 0
MASCOTECH INC COM 574670105 2442 132900 SH SOLE 132900 0 0
MASTEC INC COM 576323109 389 17000 SH SOLE 17000 0 0
MATTEL INC COM 577081102 12386 332500 SH SOLE 332500 0 0
MAXIM INTEGRATED PRODS INC COM 57772K101 1104 32000 SH SOLE 32000 0 0
MAXXAM INC COM 577913106 292 6700 SH SOLE 6700 0 0
MAYTAG CORP COM 578592107 10067 269800 SH SOLE 269800 0 0
MBIA INC COM 55262C100 13489 201900 SH SOLE 201900 0 0
MBNA CORP COM 55262L100 218 7975 SH SOLE 7975 0 0
MCCLATCHY NEWSPAPERS INC CL A 579489105 763 28075 SH SOLE 28075 0 0
MCDERMOTT INTL INC COM 580037109 4128 112700 SH SOLE 112700 0 0
MCDONALDS CORP COM 580135101 745 15600 SH SOLE 15600 0 0
MCGRATH RENTCORP COM 580589109 3521 143700 SH SOLE 143700 0 0
MCI COMMUNICATIONS CORP COM 552673105 36133 844000 SH SOLE 844000 0 0
MCKESSON CORP NEW COM 581557105 14360 132500 SH SOLE 132500 0 0
MEAD CORP COM 582834107 7907 282400 SH SOLE 282400 0 0
MEDIA GEN INC CL A 584404107 1957 46800 SH SOLE 46800 0 0
MEDIMMUNE INC COM 584699102 969 22600 SH SOLE 22600 0 0
MEDPARTNERS INC NEW COM 58503X107 224 10000 SH SOLE 10000 0 0
MEDTRONIC INC COM 585055106 14579 277700 SH SOLE 277700 0 0
MEDUSA CORP COM PAR $0 585072309 715 17100 SH SOLE 17100 0 0
MEMC ELECTR MATLS INC COM 552715104 878 57600 SH SOLE 57600 0 0
MERCANTILE BANKSHARES CORP COM 587405101 2500 63900 SH SOLE 63900 0 0
MERCANTILE STORES INC COM 587533100 3095 50850 SH SOLE 50850 0 0
MERCK & CO INC COM 589331107 51336 484300 SH SOLE 484300 0 0
MERCURY GENL CORP NEW COM 589400100 9531 172500 SH SOLE 172500 0 0
MEREDITH CORP COM 589433101 607 17000 SH SOLE 17000 0 0
MERIDIAN GOLD INC COM 589975101 636 310000 SH SOLE 310000 0 0
MERIDIAN INDL TR INC COM 589643105 2484 97400 SH SOLE 97400 0 0
MERRILL LYNCH & CO INC COM 590188108 44193 605900 SH SOLE 605900 0 0
MERRY LD & INVT INC COM 590438107 1656 72400 SH SOLE 72400 0 0
METHANEX CORP COM 59151K108 2817 507900 SH SOLE 507900 0 0
METHODE ELECTRS INC CL A 591520200 492 30300 SH SOLE 30300 0 0
METROMEDIA INTL GROUP INC COM 591695101 865 91000 SH SOLE 91000 0 0
MEXICO FD INC COM 592835102 5926 288198 SH SOLE 288198 0 0
MEYER FRED INC DEL NEW COM 592907109 3286 90346 SH SOLE 90346 0 0
MGI PPTYS INC COM 552885105 1070 44600 SH SOLE 44600 0 0
MGIC INVT CORP WIS COM 552848103 1802 27100 SH SOLE 27100 0 0
MICHAEL FOOD INC NEW COM 594079105 3023 124000 SH SOLE 124000 0 0
MICHAELS STORES INC COM 594087108 3238 110700 SH SOLE 110700 0 0
<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
MICRO WHSE INC COM 59501B105 898 64400 SH SOLE 64400 0 0
MICROAGE INC COM 594928103 771 51200 SH SOLE 51200 0 0
MICROCHIP TECHNOLOGY INC COM 595017104 450 15000 SH SOLE 15000 0 0
MICRON ELECTRONICS INC COM 595100108 166 18200 SH SOLE 18200 0 0
MICRON TECHNOLOGY INC COM 595112103 17928 691200 SH SOLE 691200 0 0
MICROSOFT CORP COM 594918104 122619 948700 SH SOLE 948700 0 0
MID ATLANTIC MED SVCS INC COM 59523C107 1133 88900 SH SOLE 88900 0 0
MID-AMER APT CMNTYS INC COM 59522J103 963 33700 SH SOLE 33700 0 0
MID-ATLANTIC RLTY TR SH BEN INT 595232109 640 43600 SH SOLE 43600 0 0
MIDAMERICA ENERGY HLDGS CO COM 595920109 2523 114682 SH SOLE 114682 0 0
MILLENNIUM CHEMICALS INC COM 599903101 470 20000 SH SOLE 20000 0 0
MILLER HERMAN INC COM 600544100 3814 69900 SH SOLE 69900 0 0
MILLS CORP COM 601148109 1492 60900 SH SOLE 60900 0 0
MINE SAFETY APPLIANCES CO COM 602720104 1795 27400 SH SOLE 27400 0 0
MINNESOTA MNG & MFG CO COM 604059105 4710 57400 SH SOLE 57400 0 0
MINNESOTA PWR & LT CO COM 604110106 619 14200 SH SOLE 14200 0 0
MISSISSIPPI CHEM CORP COM NEW 605288208 577 31600 SH SOLE 31600 0 0
MITCHELL ENERGY & DEV CORP CL B 606592301 1392 47800 SH SOLE 47800 0 0
MITEL CORP COM 606711109 891 164500 SH SOLE 164500 0 0
MOBIL CORP COM 607059102 5551 76900 SH SOLE 76900 0 0
MOBILE TELECOMMUNICATIONS TECH COM 607406105 1683 76500 SH SOLE 76500 0 0
MODINE MFG CO COM 607828100 2123 62200 SH SOLE 62200 0 0
MOHAWK INDS INC COM 608190104 1310 59700 SH SOLE 59700 0 0
MONTANA POWER CO COM 612085100 3261 102700 SH SOLE 102700 0 0
MOORE LTD COM 615785102 5074 401864 SH SOLE 401864 0 0
MORGAN J P & CO INC COM 616880100 1987 17600 SH SOLE 17600 0 0
MORGAN KEEGAN INC COM 617410105 1185 46825 SH SOLE 46825 0 0
MORGAN STANLEY DEAN WITTR DISC COM NEW 617446448 32274 545862 SH SOLE 545862 0 0
MORGAN STANLEY EMERGING MKTS COM 61744G107 1129 86400 SH SOLE 86400 0 0
MORTON INTL INC IND NEW COM 619335102 272 7900 SH SOLE 7900 0 0
MOTOROLA INC COM 620076109 23710 414600 SH SOLE 414600 0 0
MTS SYS CORP COM 553777103 1114 29700 SH SOLE 29700 0 0
MUELLER INDS INC COM 624756102 419 7100 SH SOLE 7100 0 0
MURPHY OIL CORP COM 626717102 802 14800 SH SOLE 14800 0 0
MYLAN LABS INC COM 628530107 572 27300 SH SOLE 27300 0 0
NABORS INDS INC COM 629568106 3978 125800 SH SOLE 125800 0 0
NAC RE CORP COM 628907107 1401 28700 SH SOLE 28700 0 0
NACCO INDS INC CL A 629579103 2583 24100 SH SOLE 24100 0 0
NASH FINCH CO COM 631158102 3080 162100 SH SOLE 162100 0 0
NATIONAL BANCORP ALASKA COM 632587101 1164 9200 SH SOLE 9200 0 0
NATIONAL CITY CORP COM 635405103 237 3600 SH SOLE 3600 0 0
NATIONAL COMPUTER SYS INC COM 635519101 606 17200 SH SOLE 17200 0 0
NATIONAL GOLF PPTYS INC COM 63623G109 758 23100 SH SOLE 23100 0 0
NATIONAL INSTRS CORP COM 636518102 987 34050 SH SOLE 34050 0 0
NATIONAL SEMICONDUCTOR CORP COM 637640103 1735 66900 SH SOLE 66900 0 0
NATIONAL STL CORP CL B 637844309 1982 171400 SH SOLE 171400 0 0
NATIONAL SVC INDS INC COM 637657107 416 8400 SH SOLE 8400 0 0
NATIONSBANK CORP COM 638585109 1508 24800 SH SOLE 24800 0 0
NATIONWIDE FINL SVCS INC CL A 638612101 361 10000 SH SOLE 10000 0 0
NAVISTAR INTL CORP PFD G CV $6.00 638901405 1428 23900 SH SOLE 23900 0 0
<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
NAVISTAR INTL CORP NEW COM 63934E108 4345 175100 SH SOLE 175100 0 0
NBTY INC COM 628782104 848 25400 SH SOLE 25400 0 0
NCH CORP COM 628850109 1507 23000 SH SOLE 23000 0 0
NEIMAN MARCUS GROUP INC COM 640204103 1113 36800 SH SOLE 36800 0 0
NETWORK APPLIANCE INC COM 64120L104 376 10600 SH SOLE 10600 0 0
NEVADA POWER CO COM 641423108 2468 92900 SH SOLE 92900 0 0
NEW CENTURY ENERGIES INC COM 64352U103 3940 82200 SH SOLE 82200 0 0
NEW ENGLAND BUSINESS SVC INC COM 643872104 881 26100 SH SOLE 26100 0 0
NEW PLAN RLTY TR SH BEN INT 648059103 2660 104300 SH SOLE 104300 0 0
NEW YORK ST ELEC & GAS CORP COM 649840105 5730 161400 SH SOLE 161400 0 0
NEWBRIDGE NETWORKS CORP COM 650901101 4626 189800 SH SOLE 189800 0 0
NEWELL CO COM 651192106 8330 196000 SH SOLE 196000 0 0
NEWS CORP LTD ADR NEW 652487703 558 25000 SH SOLE 25000 0 0
NEXTEL COMMUNICATIONS INC CL A 65332V103 1321 50800 SH SOLE 50800 0 0
NGC CORP COM 629121104 415 23700 SH SOLE 23700 0 0
NIAGARA MOHAWK PWR CORP COM 653522102 5504 524200 SH SOLE 524200 0 0
NIKE INC CL B 654106103 1273 32600 SH SOLE 32600 0 0
NINE WEST GROUP INC COM 65440D102 840 32400 SH SOLE 32400 0 0
NIPSCO INDS INC COM 629140104 4914 99400 SH SOLE 99400 0 0
NL INDS INC COM NEW 629156407 1041 76400 SH SOLE 76400 0 0
NORDSON CORP COM 655663102 1285 28000 SH SOLE 28000 0 0
NORRELL CORP GA COM 656301108 574 28900 SH SOLE 28900 0 0
NORTEK INC COM 656559101 1657 62400 SH SOLE 62400 0 0
NORTH FORK BANCORPORATION NY COM 659424105 1927 57100 SH SOLE 57100 0 0
NORTHEAST UTILS COM 664397106 2951 249800 SH SOLE 249800 0 0
NORTHN STS PWR CO MINN COM 665772109 5010 86000 SH SOLE 86000 0 0
NORTHROP GRUMMAN CORP COM 666807102 529 4600 SH SOLE 4600 0 0
NORWEST CORP COM 669380107 508 13100 SH SOLE 13100 0 0
NOVA CORP ALTA COM 669943102 5593 837100 SH SOLE 837100 0 0
NOVACARE CORP COM 669930109 3142 239400 SH SOLE 239400 0 0
NOVELL INC COM 670006105 316 42100 SH SOLE 42100 0 0
NOVELLUS SYS INC COM 670008101 3461 107100 SH SOLE 107100 0 0
NPC INTERNATIONAL INC COM 629360306 1142 94200 SH SOLE 94200 0 0
NUI CORP COM 629430109 1130 39400 SH SOLE 39400 0 0
NUMAC ENERGY INC COM 67052A103 327 120800 SH SOLE 120800 0 0
O'SULLIVAN INDS HLDGS INC COM 688609106 933 93300 SH SOLE 93300 0 0
OAK TECHNOLOGY INC COM 671802106 2731 420100 SH SOLE 420100 0 0
OAKLEY INC COM 673662102 1165 128600 SH SOLE 128600 0 0
OASIS RESIDENTIAL INC COM 674216106 750 33600 SH SOLE 33600 0 0
OCCIDENTAL PETE CORP DEL COM 674599105 9016 307600 SH SOLE 307600 0 0
OCEAN ENERGY INC COM 674812102 567 11500 SH SOLE 11500 0 0
OFFICEMAX INC COM 67622M108 1424 99900 SH SOLE 99900 0 0
OGDEN CORP COM 676346109 1153 40900 SH SOLE 40900 0 0
OHIO CAS CORP COM 677240103 2539 56900 SH SOLE 56900 0 0
OLD KENT FINL CORP COM 679833103 646 16310 SH SOLE 16310 0 0
OLD REP INTL CORP COM 680223104 4533 121900 SH SOLE 121900 0 0
OLIN CORP COM PAR $1 680665205 1069 22800 SH SOLE 22800 0 0
OLSTEN CORP COM 681385100 1409 93900 SH SOLE 93900 0 0
ONBANCORP INC COM 682303102 2052 29100 SH SOLE 29100 0 0
ONE VALLEY BANCORP INC COM 682419106 371 9575 SH SOLE 9575 0 0
<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
ONEIDA LTD COM 682505102 1405 52650 SH SOLE 52650 0 0
ONEOK INC NEW COM 682680103 1982 49100 SH SOLE 49100 0 0
ORACLE CORP COM 68389X105 379 17000 SH SOLE 17000 0 0
ORANGE & ROCKLAND UTILS INC COM 684065105 1346 28900 SH SOLE 28900 0 0
OREGON STL MLS INC COM 686079104 1336 62700 SH SOLE 62700 0 0
ORION CAP CORP COM 686268103 3004 64700 SH SOLE 64700 0 0
ORTHODONTIC CTRS AMER INC COM 68750P103 239 14400 SH SOLE 14400 0 0
ORYX ENERGY COMPANY COM 68763F100 301 11800 SH SOLE 11800 0 0
OSHKOSH B GOSH INC CL A 688222207 1947 59000 SH SOLE 59000 0 0
OUTBACK STEAKHOUSE INC COM 689899102 1222 42500 SH SOLE 42500 0 0
OVERSEAS SHIPHOLDING GROUP INC COM 690368105 866 39700 SH SOLE 39700 0 0
OWENS CORNING COM 69073F103 2559 75000 SH SOLE 75000 0 0
OWENS ILL INC COM NEW 690768403 18096 477000 SH SOLE 477000 0 0
OXFORD HEALTH PLANS INC COM 691471106 195 12500 SH SOLE 12500 0 0
OXFORD INDS INC COM 691497309 1134 34900 SH SOLE 34900 0 0
P-COM INC COM 693262107 247 14300 SH SOLE 14300 0 0
PACCAR INC COM 693718108 709 13500 SH SOLE 13500 0 0
PACIFIC CENTY FINL CORP COM 694058108 2663 107600 SH SOLE 107600 0 0
PACIFIC GULF PPTYS INC COM 694396102 1306 55000 SH SOLE 55000 0 0
PACIFICORP COM 695114108 14126 517200 SH SOLE 517200 0 0
PAGING NETWORK INC COM 695542100 450 41900 SH SOLE 41900 0 0
PAINE WEBBER GROUP INC COM 695629105 11839 342550 SH SOLE 342550 0 0
PAIRGAIN TECHNOLOGIES INC COM 695934109 370 19100 SH SOLE 19100 0 0
PAN PACIFIC RETAIL PPTYS INC COM 69806L104 641 30000 SH SOLE 30000 0 0
PARAGON HEALTH NETWORK INC COM 698940103 1622 82900 SH SOLE 82900 0 0
PARK NATL CORP COM 700658107 1666 18900 SH SOLE 18900 0 0
PARKER DRILLING CO COM 701081101 1180 96800 SH SOLE 96800 0 0
PARKER HANNIFIN CORP COM 701094104 2459 53600 SH SOLE 53600 0 0
PARKWAY PPTYS INC COM 70159Q104 4903 142900 SH SOLE 142900 0 0
PATRIOT AMERN HOSPITALITY DEL PAIRED CTF 703352203 1091 37872 SH SOLE 37872 0 0
PATTERSON DENTAL CO COM 703412106 520 11500 SH SOLE 11500 0 0
PAXAR CORP COM 704227107 226 15250 SH SOLE 15250 0 0
PEC ISRAEL ECONOMIC CORP COM 705098101 1471 68000 SH SOLE 68000 0 0
PECO ENERGY CO COM 693304107 364 15000 SH SOLE 15000 0 0
PEDIATRIX MED GROUP COM 705324101 355 8300 SH SOLE 8300 0 0
PENN VA CORP COM 707882106 740 25100 SH SOLE 25100 0 0
PENNCORP FINL GROUP INC COM 708094107 1342 37600 SH SOLE 37600 0 0
PENNEY J C INC COM 708160106 289 4800 SH SOLE 4800 0 0
PENNSYLVANIA RL ESTATE INVT TR SH BEN INT 709102107 265 10800 SH SOLE 10800 0 0
PENNZOIL CO COM 709903108 5298 79300 SH SOLE 79300 0 0
PENTAIR INC COM 709631105 787 21900 SH SOLE 21900 0 0
PEOPLES BK BRIDGEPORT CONN COM 710198102 530 13950 SH SOLE 13950 0 0
PEOPLES ENERGY CORP COM 711030106 1091 27700 SH SOLE 27700 0 0
PEPSICO INC COM 713448108 950 26200 SH SOLE 26200 0 0
PERRIGO CO COM 714290103 2460 183900 SH SOLE 183900 0 0
PFEIFFER VACUUM TECH AG SPONSORED ADR 717067102 7583 277000 SH SOLE 277000 0 0
PFIZER INC COM 717081103 1932 25912 SH SOLE 25912 0 0
PG&E CORP COM 69331C108 2231 73600 SH SOLE 73600 0 0
PHARMACIA & UPJOHN INC COM 716941109 15769 430565 SH SOLE 430565 0 0
PHARMERICA INC COM 717135107 319 30720 SH SOLE 30720 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
PHELPS DODGE CORP COM 717265102 1226 19700 SH SOLE 19700 0 0
PHILIP MORRIS COS INC COM 718154107 78399 1732584 SH SOLE 1732584 0 0
PHILIPS ELECTRS N V NEW YORK SHS 718337504 7992 132100 SH SOLE 132100 0 0
PHILLIPS PETE CO COM 718507106 13061 268600 SH SOLE 268600 0 0
PHILLIPS VAN HEUSEN CORP COM 718592108 802 56300 SH SOLE 56300 0 0
PIER 1 IMPORTS INC COM 720279108 1522 67250 SH SOLE 67250 0 0
PILGRIMS PRIDE CORP COM 721467108 783 50300 SH SOLE 50300 0 0
PINNACLE WEST CAP CORP COM 723484101 11801 278500 SH SOLE 278500 0 0
PIONEER HI BRED INTL INC COM 723686101 322 3000 SH SOLE 3000 0 0
PIONEER STD ELECTRS INC COM 723877106 1450 95100 SH SOLE 95100 0 0
PIPER JAFFRAY COS INC COM 724081104 3953 108500 SH SOLE 108500 0 0
PITNEY BOWES INC COM 724479100 3076 34200 SH SOLE 34200 0 0
PITTSTON CO COM BRINKS GRP 725701106 664 16500 SH SOLE 16500 0 0
PITTSTON CO COM MINRLS GRP 725701205 150 20000 SH SOLE 20000 0 0
PITTWAY CORP DEL CL A 725790208 592 8500 SH SOLE 8500 0 0
PLATINUM TECHNOLOGY INC COM 72764T101 1624 57500 SH SOLE 57500 0 0
PMC-SIERRA INC COM 69344F106 760 24500 SH SOLE 24500 0 0
PMI GROUP INC COM 69344M101 1793 24800 SH SOLE 24800 0 0
PNC BK CORP COM 693475105 22746 399500 SH SOLE 399500 0 0
POHANG IRON & STL LTD SPONSORED ADR 730450103 333 19100 SH SOLE 19100 0 0
POLAROID CORP COM 731095105 285 5859 SH SOLE 5859 0 0
POOL ENERGY SVCS CO COM 732788104 1722 77400 SH SOLE 77400 0 0
POPULAR INC COM 733174106 1683 34000 SH SOLE 34000 0 0
PORTUGAL TELECOM S A SPONSORED ADR 737273102 1570 33400 SH SOLE 33400 0 0
POST PPTYS INC COM 737464107 1189 29256 SH SOLE 29256 0 0
POTASH CORP SASK INC COM 73755L107 2204 38000 SH SOLE 38000 0 0
POTLATCH CORP COM 737628107 3173 73800 SH SOLE 73800 0 0
POTOMAC ELEC PWR CO COM 737679100 4138 160300 SH SOLE 160300 0 0
PPG INDS INC COM 693506107 337 5900 SH SOLE 5900 0 0
PRAXAIR INC COM 74005P104 248 5500 SH SOLE 5500 0 0
PRECISION CASTPARTS CORP COM 740189105 989 16400 SH SOLE 16400 0 0
PREMARK INTL INC COM 740459102 3468 119600 SH SOLE 119600 0 0
PREMIERE TECHNOLOGIES INC COM 74058F102 876 31700 SH SOLE 31700 0 0
PRENTISS PPTYS TR SH BEN INT 740706106 3283 117500 SH SOLE 117500 0 0
PRESIDENTIAL LIFE CORP COM 740884101 1916 94600 SH SOLE 94600 0 0
PRICE ENTERPRISES INC COM 741444103 1000 54800 SH SOLE 54800 0 0
PRICE REIT INC COM 74147T105 1519 37100 SH SOLE 37100 0 0
PRICE T ROWE & ASSOCIATES COM 741477103 1459 23200 SH SOLE 23200 0 0
PRIME RETAIL INC COM 741570105 261 18400 SH SOLE 18400 0 0
PROCTER & GAMBLE CO COM 742718109 48183 603700 SH SOLE 603700 0 0
PROFFITTS INC COM 742925100 1396 49100 SH SOLE 49100 0 0
PROGRESSIVE CORP OHIO COM 743315103 14996 125100 SH SOLE 125100 0 0
PROTECTIVE LIFE CORP COM 743674103 1153 19300 SH SOLE 19300 0 0
PROTEIN DESIGN LABS INC COM 74369L103 624 15600 SH SOLE 15600 0 0
PROVIDENT COS INC COM 743862104 5074 131362 SH SOLE 131362 0 0
PROVIDENT FINL GROUP INC COM 743866105 723 14900 SH SOLE 14900 0 0
PROVIDIAN FINL CORP COM 74406A102 11681 258500 SH SOLE 258500 0 0
PSINET INC COM 74437C101 267 52000 SH SOLE 52000 0 0
PUBLIC STORAGE INC COM 74460D109 10654 362700 SH SOLE 362700 0 0
PUBLIC SVC CO N MEX COM 744499104 3432 144900 SH SOLE 144900 0 0
<PAGE> PAGE 22
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
PUBLIC SVC ENTERPRISE GROUP COM 744573106 1842 57900 SH SOLE 57900 0 0
PUGET SOUND ENERGY INC COM 745332106 1863 61700 SH SOLE 61700 0 0
PULITZER PUBG CO COM 745771105 1204 19167 SH SOLE 19167 0 0
PULTE CORP COM 745867101 1430 34200 SH SOLE 34200 0 0
QUAKER ST CORP COM 747410108 318 22500 SH SOLE 22500 0 0
QUALITY FOOD CTRS INC COM 747565109 1682 25100 SH SOLE 25100 0 0
QUANEX CORP COM 747620102 599 21300 SH SOLE 21300 0 0
QUANTUM CORP COM 747906105 1681 83800 SH SOLE 83800 0 0
QUESTAR CORP COM 748356102 406 9100 SH SOLE 9100 0 0
QUICK & REILLY GROUP DEL COM 748376100 2787 64803 SH SOLE 64803 0 0
QUINTILES TRANSNATIONAL CORP COM 748767100 321 8400 SH SOLE 8400 0 0
QUORUM HEALTH GROUP INC COM 749084109 784 30000 SH SOLE 30000 0 0
RALCORP HLDGS INC NEW COM 751028101 520 30700 SH SOLE 30700 0 0
RANGER OIL LTD COM 752805101 350 72856 SH SOLE 72856 0 0
RAYMOND JAMES FINANCIAL INC COM 754730109 4619 116375 SH SOLE 116375 0 0
RAYONIER INC COM 754907103 2730 64150 SH SOLE 64150 0 0
READ-RITE CORP COM 755246105 1446 91800 SH SOLE 91800 0 0
REALTY INCOME CORP COM 756109104 2038 80100 SH SOLE 80100 0 0
RECKSON ASSOCS RLTY CORP COM 75621K106 2855 112500 SH SOLE 112500 0 0
REEBOK INTL LTD COM 758110100 4956 172000 SH SOLE 172000 0 0
REGENCY RLTY CORP COM 758939102 3087 111500 SH SOLE 111500 0 0
REINSURANCE GROUP AMER INC COM 759351109 364 8550 SH SOLE 8550 0 0
RELIANCE GROUP HOLDINGS INC COM 759464100 3708 262500 SH SOLE 262500 0 0
RELIASTAR FINL CORP COM 75952U103 9559 232078 SH SOLE 232078 0 0
REMEDY CORP COM 759548100 586 27900 SH SOLE 27900 0 0
RENTERS CHOICE INC COM 760114108 461 22500 SH SOLE 22500 0 0
REPUBLIC N Y CORP COM 760719104 925 8100 SH SOLE 8100 0 0
REXALL SUNDOWN INC COM 761648104 673 22300 SH SOLE 22300 0 0
REYNOLDS METALS CO COM 761763101 1470 24500 SH SOLE 24500 0 0
RFS HOTEL INVS INC COM 74955J108 1852 92900 SH SOLE 92900 0 0
RICHFOOD HLDGS INC COM 763408101 955 33800 SH SOLE 33800 0 0
RIGGS NATL CORP WASH DC COM 766570105 607 22600 SH SOLE 22600 0 0
RIGHTCHOICE MANAGED CARE INC CL A 76657K101 454 47200 SH SOLE 47200 0 0
RIO ALGOM LTD COM 766889109 318 26800 SH SOLE 26800 0 0
RITE AID CORP COM 767754104 11210 190800 SH SOLE 190800 0 0
RJR NABISCO HOLDINGS CORP COM NEW 74960K876 3503 93400 SH SOLE 93400 0 0
RLI CORP COM 749607107 1040 20875 SH SOLE 20875 0 0
ROBBINS & MYERS INC COM 770196103 697 17600 SH SOLE 17600 0 0
ROBERT HALF INTL INC COM 770323103 310 7750 SH SOLE 7750 0 0
ROCHESTER GAS & ELEC CORP COM 771367109 3240 95300 SH SOLE 95300 0 0
ROCK-TENN CO CL A 772739207 1105 53900 SH SOLE 53900 0 0
ROCKWELL INTL CORP NEW COM 773903109 1165 22300 SH SOLE 22300 0 0
ROGERS CANTEL MOBILE COMMN CL B RSTRG VTG 775102205 951 146100 SH SOLE 146100 0 0
ROLLINS INC COM 775711104 1154 57000 SH SOLE 57000 0 0
ROLLINS TRUCK LEASING CORP COM 775741101 656 36700 SH SOLE 36700 0 0
ROSS STORES INC COM 778296103 3008 82700 SH SOLE 82700 0 0
ROUGE INDS INC DEL CL A 779088103 504 41600 SH SOLE 41600 0 0
ROWAN COS INC COM 779382100 223 7300 SH SOLE 7300 0 0
ROYAL BK CDA MONTREAL QUE COM 780087102 556 15000 SH SOLE 15000 0 0
ROYAL DUTCH PETE CO NY REG GLD1.25 780257804 25468 470000 SH SOLE 470000 0 0
<PAGE> PAGE 23
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
ROYAL OAK MINES INC COM 78051D105 83 75700 SH SOLE 75700 0 0
RPC INC COM 749660106 338 28600 SH SOLE 28600 0 0
RUBBERMAID INC COM 781088109 1783 71300 SH SOLE 71300 0 0
RUBY TUESDAY INC COM 781182100 1429 55500 SH SOLE 55500 0 0
RUDDICK CORP COM 781258108 1069 61300 SH SOLE 61300 0 0
RUSS BERRIE & CO COM 782233100 672 25600 SH SOLE 25600 0 0
RUSSELL CORP COM 782352108 1211 45600 SH SOLE 45600 0 0
RYANS FAMILY STEAK HOUSE INC COM 783519101 1023 119500 SH SOLE 119500 0 0
RYLAND GROUP INC COM 783764103 1539 65500 SH SOLE 65500 0 0
SABRE GROUP HLDGS INC CL A 785905100 722 25000 SH SOLE 25000 0 0
SAFECO CORP COM 786429100 12617 258800 SH SOLE 258800 0 0
SAFESKIN CORP COM 786454108 6169 108700 SH SOLE 108700 0 0
SAFETY KLEEN CORP COM 786484105 568 20700 SH SOLE 20700 0 0
SAFEWAY INC COM NEW 786514208 2262 35764 SH SOLE 35764 0 0
SAMSONITE CORP NEW COM 79604V105 544 17200 SH SOLE 17200 0 0
SANMINA CORP COM 800907107 847 12500 SH SOLE 12500 0 0
SANTA FE ENERGY RES INC COM 802012104 551 49000 SH SOLE 49000 0 0
SARA LEE CORP COM 803111103 41142 730600 SH SOLE 730600 0 0
SAUL CTRS INC COM 804395101 375 20600 SH SOLE 20600 0 0
SBARRO INC COM 805844107 1037 39400 SH SOLE 39400 0 0
SBC COMMUNICATIONS INC COM 78387G103 33882 462559 SH SOLE 462559 0 0
SCANA CORP COM 805898103 3371 112600 SH SOLE 112600 0 0
SCHERING PLOUGH CORP COM 806605101 11717 188600 SH SOLE 188600 0 0
SCHLUMBERGER LTD COM 806857108 50643 629100 SH SOLE 629100 0 0
SCHWAB CHARLES CORP NEW COM 808513105 9100 217000 SH SOLE 217000 0 0
SCI SYS INC COM 783890106 2879 66100 SH SOLE 66100 0 0
SCOTTS CO CL A 810186106 411 13600 SH SOLE 13600 0 0
SEABOARD CORP COM 811543107 1100 2500 SH SOLE 2500 0 0
SEAGATE TECHNOLOGY COM 811804103 624 32400 SH SOLE 32400 0 0
SEAGRAM LTD COM 811850106 15417 545200 SH SOLE 545200 0 0
SEAGULL ENERGY CORP COM 812007102 668 32400 SH SOLE 32400 0 0
SEARS ROEBUCK & CO COM 812387108 3733 82500 SH SOLE 82500 0 0
SECURITY CAP ATLANTIC INC COM 814137105 2400 113612 SH SOLE 113612 0 0
SECURITY CAP GROUP INC WT EXP 091898 81413P113 228 43387 SH SOLE 43387 0 0
SECURITY CAP PAC TR SH BEN INT 814141107 6527 267785 SH SOLE 267785 0 0
SEI INVESTMENTS CO COM 784117103 1121 26700 SH SOLE 26700 0 0
SELECTIVE INS GROUP INC COM 816300107 1447 53600 SH SOLE 53600 0 0
SEMI-TECH CORP CL A SUB VTG 81662E108 1701 3393200 SH SOLE 3393200 0 0
SENSORMATIC ELECTRS CORP COM 817265101 529 32200 SH SOLE 32200 0 0
SEQUA CORPORATION CL A 817320104 1334 20500 SH SOLE 20500 0 0
SEQUENT COMPUTER SYS INC COM 817338106 990 49500 SH SOLE 49500 0 0
SERVICE MERCHANDISE INC COM 817587108 826 388700 SH SOLE 388700 0 0
SHAW INDS INC COM 820286102 930 80000 SH SOLE 80000 0 0
SHOPKO STORES INC COM 824911101 1888 85800 SH SOLE 85800 0 0
SHOREWOOD PACKAGING CORP COM 825229107 1338 50000 SH SOLE 50000 0 0
SHURGARD STORAGE CTRS INC COM 82567D104 876 30200 SH SOLE 30200 0 0
SIERRA HEALTH SVCS INC COM 826322109 780 23200 SH SOLE 23200 0 0
SIERRA PAC RES COM 826425100 1133 30200 SH SOLE 30200 0 0
SILICON GRAPHICS INC COM 827056102 627 50900 SH SOLE 50900 0 0
SILICON VY GROUP INC COM 827066101 2210 97700 SH SOLE 97700 0 0
<PAGE> PAGE 24
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
SIMON DEBARTOLO GROUP INC COM 828781104 10483 320700 SH SOLE 320700 0 0
SINCLAIR BROADCAST GROUP INC CL A 829226109 863 18500 SH SOLE 18500 0 0
SK TELECOM LTD SPONSORED ADR 78440P108 593 91154 SH SOLE 91154 0 0
SL GREEN RLTY CORP COM 78440X101 2594 100000 SH SOLE 100000 0 0
SLM HLDG CORP COM 78442A109 3381 24300 SH SOLE 24300 0 0
SMITH A O COM 831865209 1876 44400 SH SOLE 44400 0 0
SMITH CHARLES E RESDNTL RLTY COM 832197107 930 26200 SH SOLE 26200 0 0
SMITH INTL INC COM 832110100 4278 69700 SH SOLE 69700 0 0
SMITHFIELD FOODS INC COM 832248108 2924 88600 SH SOLE 88600 0 0
SOCIEDAD QUIMICA MINERA DE CHI SPON ADR SER B 833635105 1505 34200 SH SOLE 34200 0 0
SOFAMOR/DANEK GROUP INC COM 834005100 4796 73500 SH SOLE 73500 0 0
SOLECTRON CORP COM 834182107 241 5800 SH SOLE 5800 0 0
SONOCO PRODS CO COM 835495102 3091 89100 SH SOLE 89100 0 0
SOUTHDOWN INC COM 841297104 2218 37600 SH SOLE 37600 0 0
SOUTHERN CO COM 842587107 14775 571000 SH SOLE 571000 0 0
SOUTHERN NEW ENGLAND TELECOM COM 843485103 2138 42500 SH SOLE 42500 0 0
SOUTHLAND CORP COM NEW 844436402 740 348400 SH SOLE 348400 0 0
SOUTHWEST GAS CORP COM 844895102 581 31100 SH SOLE 31100 0 0
SOVEREIGN BANCORP INC COM 845905108 1326 63880 SH SOLE 63880 0 0
SOVRAN SELF STORAGE INC COM 84610H108 532 16400 SH SOLE 16400 0 0
SPACELABS MED INC COM 846247104 961 50600 SH SOLE 50600 0 0
SPELLING ENTMT GROUP INC COM 847807104 454 64900 SH SOLE 64900 0 0
SPIEGEL INC CL A 848457107 454 91900 SH SOLE 91900 0 0
SPIEKER PPTYS INC COM 848497103 11066 258100 SH SOLE 258100 0 0
SPRINGS INDS INC CL A 851783100 2002 38500 SH SOLE 38500 0 0
SPRINT CORP COM 852061100 35978 613700 SH SOLE 613700 0 0
SPX CORP COM 784635104 2077 30100 SH SOLE 30100 0 0
ST PAUL BANCORP INC COM 792848103 932 35512 SH SOLE 35512 0 0
ST PAUL COS INC COM 792860108 23183 282500 SH SOLE 282500 0 0
STANDARD PAC CORP NEW COM 85375C101 5198 332700 SH SOLE 332700 0 0
STANDARD REGISTER CO COM 853887107 215 6200 SH SOLE 6200 0 0
STANDEX INTL CORP COM 854231107 1311 37200 SH SOLE 37200 0 0
STANHOME INC COM VTG 854425105 1146 44600 SH SOLE 44600 0 0
STARRETT L S CO CL A 855668109 812 22200 SH SOLE 22200 0 0
STARWOOD LODGING TR COMBND CTF NEW 855905204 16865 291400 SH SOLE 291400 0 0
STATE STR CORP COM 857477103 687 11800 SH SOLE 11800 0 0
STEIN MART INC COM 858375108 342 12800 SH SOLE 12800 0 0
STEPAN CO COM 858586100 1022 34500 SH SOLE 34500 0 0
STERLING SOFTWARE INC COM 859547101 1915 46700 SH SOLE 46700 0 0
STEWART & STEVENSON SVCS INC COM 860342104 620 24300 SH SOLE 24300 0 0
STONE & WEBSTER INC COM 861572105 591 12600 SH SOLE 12600 0 0
STONE CONTAINER CORP COM 861589109 1534 141100 SH SOLE 141100 0 0
STORAGE TECHNOLOGY CORP COM PAR $0.10 862111200 5519 89100 SH SOLE 89100 0 0
STORAGE TR RLTY SH BEN INT 861909109 634 24100 SH SOLE 24100 0 0
STORAGE USA INC COM 861907103 2348 58800 SH SOLE 58800 0 0
STRATUS COMPUTER INC COM 863155107 2518 66600 SH SOLE 66600 0 0
STRIDE RITE CORP COM 863314100 409 34100 SH SOLE 34100 0 0
STRYKER CORP COM 863667101 242 6500 SH SOLE 6500 0 0
STUDENT LN CORP COM 863902102 854 17300 SH SOLE 17300 0 0
SUMITOMO BANK CALIF COM 865593107 568 10400 SH SOLE 10400 0 0
<PAGE> PAGE 25
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
SUMMIT BANCORP COM 866005101 7408 140100 SH SOLE 140100 0 0
SUMMIT PPTYS INC COM 866239106 3657 173100 SH SOLE 173100 0 0
SUN COMMUNITIES INC COM 866674104 2462 68500 SH SOLE 68500 0 0
SUN HEALTHCARE GROUP INC COM 866933104 1670 86200 SH SOLE 86200 0 0
SUN INC COM 866762107 871 20700 SH SOLE 20700 0 0
SUNAMERICA INC COM 866930100 257 6000 SH SOLE 6000 0 0
SUNBEAM CORP COM 867071102 8463 200300 SH SOLE 200300 0 0
SUNCOR ENERGY INC COM 867229106 2079 87200 SH SOLE 87200 0 0
SUNDSTRAND CORP COM 867323107 403 8000 SH SOLE 8000 0 0
SUNRISE MED INC COM 867910101 855 55400 SH SOLE 55400 0 0
SUNSTONE HOTEL INVS INC COM 867933103 2191 127000 SH SOLE 127000 0 0
SUNTRUST BKS INC COM 867914103 1720 24100 SH SOLE 24100 0 0
SUPER SOL LTD SPONSORED ADR 868511205 562 40000 SH SOLE 40000 0 0
SUPERIOR INDS INTL INC COM 868168105 649 24200 SH SOLE 24200 0 0
SUPERVALU INC COM 868536103 10067 240400 SH SOLE 240400 0 0
SWIFT TRANSN CO COM 870756103 275 8500 SH SOLE 8500 0 0
SYBRON INTL CORP COM 87114F106 1371 29200 SH SOLE 29200 0 0
SYMANTEC CORP COM 871503108 1972 89900 SH SOLE 89900 0 0
SYNOPSYS INC COM 871607107 804 22500 SH SOLE 22500 0 0
SYSCO CORP COM 871829107 251 5500 SH SOLE 5500 0 0
SYSTEMS & COMPUTER TECHNOLOGY COM 871873105 1752 35300 SH SOLE 35300 0 0
TADIRAN LTD SPONSORED ADR 873593107 2345 66300 SH SOLE 66300 0 0
TAIWAN FD INC COM 874036106 375 22700 SH SOLE 22700 0 0
TANDY CORP COM 875382103 10674 276800 SH SOLE 276800 0 0
TAUBMAN CTRS INC COM 876664103 874 67200 SH SOLE 67200 0 0
TECH DATA CORP COM 878237106 1819 46800 SH SOLE 46800 0 0
TECH SYM CORP COM 878308105 443 17400 SH SOLE 17400 0 0
TECHNITROL INC COM 878555101 207 6900 SH SOLE 6900 0 0
TECO ENERGY INC COM 872375100 4359 155000 SH SOLE 155000 0 0
TECUMSEH PRODS CO CL B 878895101 2336 47800 SH SOLE 47800 0 0
TEKELEC COM 879101103 1064 34900 SH SOLE 34900 0 0
TEKTRONIX INC COM 879131100 1101 27750 SH SOLE 27750 0 0
TELECOMUNICACOES BRASILEIRAS S SPONSORED ADR 879287100 7510 64500 SH SOLE 64500 0 0
TELEFLEX INC COM 879369106 823 21800 SH SOLE 21800 0 0
TELEFONOS DE MEXICO S A SP ADR REP ORD 879403780 46445 828450 SH SOLE 828450 0 0
TELLABS INC COM 879664100 317 6000 SH SOLE 6000 0 0
TEMPLE INLAND INC COM 879868107 3991 76300 SH SOLE 76300 0 0
TENET HEALTHCARE CORP COM 88033G100 7067 213345 SH SOLE 213345 0 0
TENNANT CO COM 880345103 782 21500 SH SOLE 21500 0 0
TENNECO INC NEW COM 88037E101 1778 45000 SH SOLE 45000 0 0
TERADYNE INC COM 880770102 9370 292800 SH SOLE 292800 0 0
TERRA INDS INC COM 880915103 1853 141900 SH SOLE 141900 0 0
TEVA PHARMACEUTICAL INDS LTD ADR 881624209 7381 156000 SH SOLE 156000 0 0
TEXACO INC COM 881694103 24338 447600 SH SOLE 447600 0 0
TEXAS INDS INC COM 882491103 999 22200 SH SOLE 22200 0 0
TEXAS INSTRS INC COM 882508104 13383 297400 SH SOLE 297400 0 0
TEXAS UTILS CO COM 882848104 8910 214700 SH SOLE 214700 0 0
TEXTRON INC COM 883203101 14850 237600 SH SOLE 237600 0 0
THIOKOL CORP DEL COM 884103102 8824 108600 SH SOLE 108600 0 0
THOMAS & BETTS CORP COM 884315102 397 8401 SH SOLE 8401 0 0
<PAGE> PAGE 26
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
TIG HLDGS INC COM 872469101 6488 195500 SH SOLE 195500 0 0
TIMBERLAND CO CL A 887100105 4059 69900 SH SOLE 69900 0 0
TIMKEN CO COM 887389104 3953 115000 SH SOLE 115000 0 0
TJ INTL INC COM 872534102 1042 42100 SH SOLE 42100 0 0
TJX COS INC NEW COM 872540109 206 6000 SH SOLE 6000 0 0
TNP ENTERPRISES INC COM 872594106 1636 49200 SH SOLE 49200 0 0
TOLL BROTHERS INC COM 889478103 984 36800 SH SOLE 36800 0 0
TOOTSIE ROLL INDS INC COM 890516107 2763 44203 SH SOLE 44203 0 0
TORCHMARK CORP COM 891027104 24785 587500 SH SOLE 587500 0 0
TORO CO COM 891092108 588 13800 SH SOLE 13800 0 0
TOSCO CORP COM NEW 891490302 1346 35600 SH SOLE 35600 0 0
TOTAL RENAL CARE HLDGS INC COM 89151A107 1513 55033 SH SOLE 55033 0 0
TOYS R US INC COM 892335100 1487 47300 SH SOLE 47300 0 0
TRANSACTION SYS ARCHITECTS CL A 893416107 570 15000 SH SOLE 15000 0 0
TRANSAMERICA CORP COM 893485102 13899 130509 SH SOLE 130509 0 0
TRANSATLANTIC HLDGS INC COM 893521104 6821 95400 SH SOLE 95400 0 0
TRANSCANADA PIPELINES LTD COM 893526103 7209 450278 SH SOLE 450278 0 0
TRAVELERS GROUP INC COM 894190107 65826 1221825 SH SOLE 1221825 0 0
TREDEGAR INDS INC COM 894650100 1196 18150 SH SOLE 18150 0 0
TRENWICK GROUP INC COM 895290104 578 15350 SH SOLE 15350 0 0
TRIARC COS INC CL A 895927101 760 27900 SH SOLE 27900 0 0
TRINET CORP RLTY TR INC COM 896287109 2642 68300 SH SOLE 68300 0 0
TRINITY INDS INC COM 896522109 4735 106100 SH SOLE 106100 0 0
TRIZEC HAHN CORP SUB VTG 896938107 4416 227702 SH SOLE 227702 0 0
TRUST CO NJ JERSEY CITY NEW COM 898304100 440 17600 SH SOLE 17600 0 0
TRUSTMARK CORP COM 898402102 1272 27500 SH SOLE 27500 0 0
TUBOSCOPE INC COM 898600101 938 39000 SH SOLE 39000 0 0
TUCSON ELEC PWR CO COM NEW 898813704 800 44140 SH SOLE 44140 0 0
TV AZTECA S A DE C V SPONSORED ADR 901145102 226 10000 SH SOLE 10000 0 0
TVX GOLD INC COM 87308K101 145 61600 SH SOLE 61600 0 0
TYCO INTL LTD NEW COM 902124106 15380 341300 SH SOLE 341300 0 0
TYSON FOODS INC CL A 902494103 390 19000 SH SOLE 19000 0 0
U S G CORP COM NEW 903293405 3611 73700 SH SOLE 73700 0 0
U S INDS INC NEW COM 912080108 1865 61900 SH SOLE 61900 0 0
U S OFFICE PRODS CO COM 912325107 612 31200 SH SOLE 31200 0 0
U S TR CORP NEW COM 91288L105 476 7600 SH SOLE 7600 0 0
U S WEST INC COM-COMMUNCTNS 912889102 37666 834700 SH SOLE 834700 0 0
U S WEST INC COM-MEDIA GRP 912889201 4920 170400 SH SOLE 170400 0 0
UAL CORP COM PAR $0.01 902549500 8122 87800 SH SOLE 87800 0 0
UICI COM 902737105 412 11800 SH SOLE 11800 0 0
ULTRAMAR DIAMOND SHAMROCK CORP COM 904000106 1613 50594 SH SOLE 50594 0 0
ULTRATECH STEPPER INC COM 904034105 831 41800 SH SOLE 41800 0 0
UMB FINL CORP COM 902788108 1156 21210 SH SOLE 21210 0 0
UNICOM CORP COM 904911104 3352 109000 SH SOLE 109000 0 0
UNIFI INC COM 904677101 720 17700 SH SOLE 17700 0 0
UNILEVER N V NEW YORK SHS 904784501 55731 892600 SH SOLE 892600 0 0
UNION CARBIDE CORP COM 905581104 9347 217700 SH SOLE 217700 0 0
UNION ELEC CO COM 906548102 1220 28200 SH SOLE 28200 0 0
UNION PAC RES GROUP INC COM 907834105 12137 500500 SH SOLE 500500 0 0
UNION PLANTERS CORP COM 908068109 977 14400 SH SOLE 14400 0 0
<PAGE> PAGE 27
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
UNION TEX PETE HLDGS INC COM 908640105 3592 172600 SH SOLE 172600 0 0
UNIONBANCAL CORP COM 908906100 1484 13800 SH SOLE 13800 0 0
UNIPHASE CORP COM 909149106 488 11800 SH SOLE 11800 0 0
UNISYS CORP COM 909214108 3660 263800 SH SOLE 263800 0 0
UNIT CORP COM 909218109 116 12100 SH SOLE 12100 0 0
UNITED ASSET MGMT CORP COM 909420101 374 15300 SH SOLE 15300 0 0
UNITED COS FINL CORP COM 909870107 436 28100 SH SOLE 28100 0 0
UNITED DOMINION INDS LTD COM 909914103 2230 126084 SH SOLE 126084 0 0
UNITED DOMINION REALTY TR INC COM 910197102 4584 328938 SH SOLE 328938 0 0
UNITED HEALTHCARE CORP COM 910581107 248 5000 SH SOLE 5000 0 0
UNITED ILLUM CO COM 910637107 2467 53700 SH SOLE 53700 0 0
UNITED STATES SURGICAL CORP COM 912707106 3992 136200 SH SOLE 136200 0 0
UNITED TECHNOLOGIES CORP COM 913017109 2534 34800 SH SOLE 34800 0 0
UNITED VIDEO SATELLITE GROUP CL A 913155107 834 29000 SH SOLE 29000 0 0
UNITED WIS SVCS INC COM 913236105 309 12000 SH SOLE 12000 0 0
UNITED WTR RES INC COM 913190104 513 26248 SH SOLE 26248 0 0
UNITRODE CORP COM 913283107 596 27700 SH SOLE 27700 0 0
UNIVERSAL CORP VA COM 913456109 3681 89500 SH SOLE 89500 0 0
UNIVERSAL FOODS CORP COM 913538104 3119 73825 SH SOLE 73825 0 0
UNIVERSAL HLTH SVCS INC CL B 913903100 1214 24100 SH SOLE 24100 0 0
UNOCAL CORP COM 915289102 11345 292300 SH SOLE 292300 0 0
URBAN SHOPPING CTRS INC COM 917060105 1744 50000 SH SOLE 50000 0 0
US AIRWAYS GROUP INC COM 911905107 8831 141300 SH SOLE 141300 0 0
US BANCORP DEL COM 902973106 448 4000 SH SOLE 4000 0 0
USF&G CORP COM 903290104 494 22400 SH SOLE 22400 0 0
USFREIGHTWAYS CORP COM 916906100 1219 37500 SH SOLE 37500 0 0
UST INC COM 902911106 222 6000 SH SOLE 6000 0 0
USX MARATHON GROUP COM NEW 902905827 27381 811300 SH SOLE 811300 0 0
USX-U S STL COM 90337T101 5591 178900 SH SOLE 178900 0 0
UTILICORP UTD INC COM 918005109 2849 73400 SH SOLE 73400 0 0
V F CORP COM 918204108 16782 360900 SH SOLE 360900 0 0
VALASSIS COMMUNICATIONS INC COM 918866104 3548 95900 SH SOLE 95900 0 0
VALERO ENERGY CORP NEW COM 91913Y100 3379 107500 SH SOLE 107500 0 0
VALHI INC NEW COM 918905100 1233 130700 SH SOLE 130700 0 0
VALSPAR CORP COM 920355104 306 9600 SH SOLE 9600 0 0
VALUE CITY DEPT STORES INC COM 920387107 1152 129800 SH SOLE 129800 0 0
VALUE LINE INC COM 920437100 1631 41300 SH SOLE 41300 0 0
VANTIVE CORP COM 922091103 407 16100 SH SOLE 16100 0 0
VARCO INTL INC COM 922126107 1749 81600 SH SOLE 81600 0 0
VARIAN ASSOC INC COM 922204102 1011 20000 SH SOLE 20000 0 0
VENCOR INC COM 922602107 348 14248 SH SOLE 14248 0 0
VESTA INS GROUP INC COM 925391104 713 12000 SH SOLE 12000 0 0
VIAD CORP COM 92552R109 1020 52800 SH SOLE 52800 0 0
VIASOFT INC COM 92552U102 773 18300 SH SOLE 18300 0 0
VIKING OFFICE PRODS COM 926913104 855 39200 SH SOLE 39200 0 0
VISHAY INTERTECHNOLOGY INC COM 928298108 1548 65700 SH SOLE 65700 0 0
VISIO CORP COM 927914101 2203 57400 SH SOLE 57400 0 0
VITRO SOCIEDAD ANONIMA SPONSORED ADR 928502301 20272 1552000 SH SOLE 1552000 0 0
VIVUS INC COM 928551100 1836 172800 SH SOLE 172800 0 0
VLSI TECHNOLOGY INC COM 918270109 1885 79800 SH SOLE 79800 0 0
<PAGE> PAGE 28
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
VOLT INFORMATION SCIENCES INC COM 928703107 1614 29950 SH SOLE 29950 0 0
VORNADO RLTY TR SH BEN INT 929042109 13542 288516 SH SOLE 288516 0 0
VULCAN MATLS CO COM 929160109 4790 46900 SH SOLE 46900 0 0
WABASH NATL CORP COM 929566107 1675 58900 SH SOLE 58900 0 0
WACHOVIA CORP COM 929771103 4093 50450 SH SOLE 50450 0 0
WAL MART STORES INC COM 931142103 62784 1592000 SH SOLE 1592000 0 0
WALDEN RESIDENTIAL PPTYS INC COM 931210108 2417 94800 SH SOLE 94800 0 0
WALLACE COMPUTER SERVICES INC COM 932270101 4855 124900 SH SOLE 124900 0 0
WARNER LAMBERT CO COM 934488107 34226 275600 SH SOLE 275600 0 0
WASHINGTON FED INC COM 938824109 1487 47295 SH SOLE 47295 0 0
WASHINGTON GAS LT CO COM 938837101 947 30600 SH SOLE 30600 0 0
WASHINGTON MUT INC COM 939322103 10967 171860 SH SOLE 171860 0 0
WASHINGTON POST CO CL B 939640108 4038 8300 SH SOLE 8300 0 0
WASHINGTON REAL ESTATE INVT TR SH BEN INT 939653101 784 46800 SH SOLE 46800 0 0
WASHINGTON WTR PWR CO COM 940688104 676 27800 SH SOLE 27800 0 0
WASTE MGMT INC NEW COM 94106K101 8168 297000 SH SOLE 297000 0 0
WASTE MGMT INTL PLC SPONSORED ADR 940906100 938 150000 SH SOLE 150000 0 0
WATKINS JOHNSON CO COM 942486101 1172 45200 SH SOLE 45200 0 0
WATSON PHARMACEUTICALS INC COM 942683103 1836 56600 SH SOLE 56600 0 0
WATTS INDS INC CL A 942749102 798 28200 SH SOLE 28200 0 0
WEATHERFORD ENTERRA INC COM 947071106 2179 49800 SH SOLE 49800 0 0
WEBB DEL CORP COM 947423109 1490 57300 SH SOLE 57300 0 0
WEEKS CORP COM 94856P102 2198 68700 SH SOLE 68700 0 0
WEINGARTEN RLTY INVS SH BEN INT 948741103 3509 78300 SH SOLE 78300 0 0
WEIS MKTS INC COM 948849104 1190 34000 SH SOLE 34000 0 0
WELLMAN INC COM 949702104 1470 75400 SH SOLE 75400 0 0
WELLPOINT HEALTH NETWORK NEW COM 94973H108 8091 191500 SH SOLE 191500 0 0
WELLS FARGO & CO DEL COM 949740104 747 2200 SH SOLE 2200 0 0
WESCO FINL CORP COM 950817106 2250 7500 SH SOLE 7500 0 0
WEST INC COM 953348109 318 10700 SH SOLE 10700 0 0
WESTCOAST ENERGY INC COM 95751D102 5885 344600 SH SOLE 344600 0 0
WESTERN DIGITAL CORP COM 958102105 2382 148900 SH SOLE 148900 0 0
WESTERN GAS RES INC COM 958259103 1865 84300 SH SOLE 84300 0 0
WESTERN INVT REAL ESTATE TR SH BEN INT 958468100 699 50800 SH SOLE 50800 0 0
WESTERN NATL CORP COM 958845109 1158 39100 SH SOLE 39100 0 0
WESTERN RES INC COM 959425109 2305 53600 SH SOLE 53600 0 0
WESTFIELD AMER INC COM 959910100 2373 139600 SH SOLE 139600 0 0
WESTINGHOUSE AIR BRAKE CO NEW COM 960386100 815 31800 SH SOLE 31800 0 0
WESTPOINT STEVENS INC COM 961238102 1796 38000 SH SOLE 38000 0 0
WESTVACO CORP COM 961548104 6287 200000 SH SOLE 200000 0 0
WEYERHAEUSER CO COM 962166104 1227 25000 SH SOLE 25000 0 0
WHEELABRATOR TECH INC NEW COM PAR $0.01 962901302 6683 416100 SH SOLE 416100 0 0
WHITMAN CORP COM 96647K102 5343 205000 SH SOLE 205000 0 0
WILLAMETTE INDS INC COM 969133107 4657 144700 SH SOLE 144700 0 0
WILLIAMS COS INC DEL COM 969457100 858 30100 SH SOLE 30100 0 0
WILLIAMS SONOMA INC COM 969904101 557 13300 SH SOLE 13300 0 0
WILMINGTON TRUST CORP COM 971807102 3044 48800 SH SOLE 48800 0 0
WINN DIXIE STORES INC COM 974280109 5339 122200 SH SOLE 122200 0 0
WINSTON HOTELS INC COM 97563A102 655 49900 SH SOLE 49900 0 0
WISCONSIN ENERGY CORP COM 976657106 14323 498200 SH SOLE 498200 0 0
<PAGE> PAGE 29
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
WORLDCOM INC GA COM 98155K102 10094 333700 SH SOLE 333700 0 0
WPL HLDGS INC COM 929305100 891 26900 SH SOLE 26900 0 0
WRIGLEY WM JR CO COM 982526105 1544 19400 SH SOLE 19400 0 0
WYMAN GORDON CO COM 983085101 406 20700 SH SOLE 20700 0 0
XEROX CORP COM 984121103 25243 341700 SH SOLE 341700 0 0
XYLAN CORP COM 984151100 237 15700 SH SOLE 15700 0 0
YELLOW CORP COM 985509108 4156 165400 SH SOLE 165400 0 0
YPF SOCIEDAD ANONIMA SPON ADR CL D 984245100 15451 451953 SH SOLE 451953 0 0
ZALE CORP NEW COM 988858106 805 35000 SH SOLE 35000 0 0
ZEBRA TECHNOLOGIES CORP CL A 989207105 607 20400 SH SOLE 20400 0 0
ZILOG INC COM 989524103 993 52100 SH SOLE 52100 0 0
ZURN INDS INC COM 989824107 846 26900 SH SOLE 26900 0 0
REPORT SUMMARY 1362 DATA RECORDS 6146475 1 OTHER MANAGERS ON WHOSE BEHALF REPORT IS FILED
</TABLE>
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