GLENMEDE
THE GLENMEDE FUND, INC.
THE GLENMEDE PORTFOLIOS
SEMI-ANNUAL REPORT
APRIL 30, 2000
<PAGE>
-----------------------
THE GLENMEDE FUND, INC.
-----------------------
STATEMENTS OF ASSETS AND LIABILITIES
APRIL 30, 2000 -- (UNAUDITED)
TAX- CORE
GOVERNMENT EXEMPT FIXED
CASH CASH INCOME
PORTFOLIO PORTFOLIO PORTFOLIO
------------ ------------ ------------
ASSETS:
Investments:
Investments at value................. $162,703,471 $386,088,196 $180,750,880
Repurchase agreements................ 229,954,854 -- 16,767,000
------------ ------------ ------------
Total investments.................. 392,658,325 386,088,196 197,517,880
------------ ------------ ------------
Cash ................................ -- 152,639 625
Receivable for securities sold....... -- 1,100,138 --
Receivable for collateral on
securities loaned ................ -- -- 26,432,433
Interest receivable.................. 880,335 2,625,822 2,352,912
Prepaid expenses..................... 5,154 11,041 5,282
------------ ------------ ------------
Total assets....................... 393,543,814 389,977,836 226,309,132
------------ ------------ ------------
LIABILITIES:
Dividends payable.................... 2,017,211 1,278,257 --
Payable for securities purchased..... -- -- 3,426,713
Reverse repurchase agreements........ -- -- 17,680,000
Payable for securities on loan....... -- -- 26,432,433
Accrued expenses..................... 43,990 46,816 223,177
------------ ------------ ------------
Total liabilities.................. 2,061,201 1,325,073 47,762,323
------------ ------------ ------------
NET ASSETS.............................. $391,482,613 $388,652,763 $178,546,809
============ ============ ============
SHARES OUTSTANDING .................... 391,446,972 388,734,665 17,984,584
============ ============ ============
NET ASSET VALUE PER SHARE............... $ 1.00 $ 1.00 $ 9.93
============ ============ ============
See Notes to Financial Statements.
--1--
<PAGE>
------------------------
THE GLENMEDE FUND, INC.
------------------------
STATEMENTS OF ASSETS AND LIABILITIES -- (CONTINUED)
APRIL 30, 2000 -- (UNAUDITED)
SMALL
STRATEGIC CAPITALIZATION LARGE CAP
EQUITY VALUE VALUE
PORTFOLIO(1) PORTFOLIO(2) PORTFOLIO
------------ ------------ ------------
ASSETS:
Investments:
Investments at value............... $169,463,628 $281,209,444 $22,291,683
Repurchase agreements.............. 5,109,000 444,000 --
------------ ------------ ------------
Total investments................ 174,572,628 281,653,444 22,291,683
------------ ------------ ------------
Cash .............................. 87 134 96,121
Receivable for securities sold..... 28,200 604,500 339,479
Receivable for collateral on
securities loaned............... 2,385,000 9,744,400 1,559,100
Dividends receivable............... 100,785 47,098 18,977
Interest receivable................ 2,376 206 --
Prepaid expenses................... 5,545 65,983 4,356
------------ ------------ ------------
Total assets..................... 177,094,621 292,115,765 24,309,716
------------ ------------ ------------
LIABILITIES:
Dividends payable.................. -- 16,048 --
Payable for fund shares redeemed... 460,202 206,216 --
Payable for securities purchased... 2,011,125 234,683 --
Payable for securities on loan..... 2,385,000 9,744,400 1,559,100
Accrued expenses................... 11,342 256,741 4,003
------------ ------------ ------------
Total liabilities................ 4,867,669 10,458,088 1,563,103
------------ ------------ ------------
NET ASSETS............................ $172,226,952 $281,657,677 $22,746,613
============ ============ ============
SHARES OUTSTANDING .................. 6,507,341 14,429,892(3) 2,172,945
============ ============ ============
NET ASSET VALUE PER SHARE............. $ 26.47 $ 17.69(3)$ 10.47
============ ============ ============
-----------------
(1) On February 28, 2000, Tax Managed Equity Portfolio changed its name to
Strategic Equity Portfolio.
(2) On February 28, 2000, Small Capitalization Equity Portfolio changed its name
to Small Capitalization Value Portfolio.
(3) These Shares Outstanding and Net Asset Value Per Share are for the Advisor
Class. The Net Assets for the Advisor Class are $255,221,260. For the
Institutional Class the Shares Outstanding are 1,496,839 and the Net Asset
Value Per Share is $17.66. The Net Assets for the Institutional Class are
$26,436,417.
See Notes to Financial Statements.
--2--
<PAGE>
------------------------
THE GLENMEDE FUND, INC.
------------------------
STATEMENTS OF ASSETS AND LIABILITIES -- (CONTINUED)
APRIL 30, 2000 -- (UNAUDITED)
INSTITUTIONAL EMERGING
INTERNATIONAL INTERNATIONAL MARKETS
PORTFOLIO PORTFOLIO PORTFOLIO
-------------- ------------ -----------
ASSETS:
Investments:
Investments at value................ $1,499,591,957 $226,215,433 $62,749,868
Repurchase agreements............... 32,337,000 -- --
-------------- ------------ -----------
Total investments................. 1,531,928,957 226,215,433 62,749,868
-------------- ------------ -----------
Cash ............................... -- 9,726,890 1,733,677
Receivable for fund shares sold..... 6,946,246 27,934 --
Receivable for securities sold...... 15,912,575 4,948,663 1,402,028
Receivable for collateral on
securities loaned ............... 323,888,287 42,002,475 1,639,500
Dividends receivable................ 5,246,402 830,044 59,566
Interest receivable................. 15,037 -- --
Foreign tax reclaims receivable..... 910,530 107,776 --
Prepaid expenses.................... 21,807 74 832
-------------- ------------ -----------
Total assets...................... 1,884,869,841 283,859,289 67,585,471
-------------- ------------ -----------
LIABILITIES:
Dividend payable.................... -- 8,879 --
Payable for fund shares redeemed.... 211,184 5,750,474 --
Payable for securities purchased.... -- -- 1,285,736
Payable for securities on loan...... 323,888,287 42,002,475 1,639,500
Accrued expenses.................... 210,562 152,964 273,424
-------------- ------------ -----------
Total liabilities................. 324,310,033 47,914,792 3,198,660
-------------- ------------ -----------
NET ASSETS............................. $1,560,559,808 $235,944,497 $64,386,811
============== ============ ===========
SHARES OUTSTANDING.................... 86,822,961 13,384,807 6,936,567
============== ============ ===========
NET ASSET VALUE PER SHARE............. $ 17.97 $ 17.63 $ 9.28
============== ============ ===========
See Notes to Financial Statements.
--3--
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------------------------
THE GLENMEDE FUND, INC.
------------------------
STATEMENTS OF ASSETS AND LIABILITIES -- (CONCLUDED)
APRIL 30, 2000 -- (UNAUDITED)
SMALL
GLOBAL CAPITALIZATION CORE
EQUITY GROWTH VALUE
PORTFOLIO PORTFOLIO(1) PORTFOLIO(2)
----------- ----------- -----------
ASSETS:
Investments:
Investments at value.................. $28,756,649 $66,663,001 $18,975,243
Repurchase agreements................. 550,000 4,417,000 243,000
----------- ----------- -----------
Total investments................... 29,306,649 71,080,001 19,218,243
----------- ----------- -----------
Cash ................................. 830 1,346 253
Receivable for fund shares sold....... -- 243,500 --
Receivable for securities sold........ 364,513 509,816 211,028
Receivable for collateral on
securities loaned 2,455,980 10,463,345 --
Dividends receivable.................. 80,720 -- 11,406
Interest receivable................... 256 2,054 113
Foreign tax reclaims receivable....... 23,691 -- --
Prepaid expenses...................... 6,917 10,173 767
----------- ----------- -----------
Total assets........................ 32,239,556 82,310,235 19,441,810
----------- ----------- -----------
LIABILITIES:
Payable for fund shares redeemed...... -- 52,266 --
Payable for securities purchased...... -- 763,861 335,699
Payable for securities on loan........ 2,455,980 10,463,345 --
Accrued expenses...................... 27,322 45,000 12,992
----------- ----------- -----------
Total liabilities................... 2,483,302 11,324,472 348,691
----------- ----------- -----------
NET ASSETS............................... $29,756,254 $70,985,763 $19,093,119
=========== =========== ===========
SHARES OUTSTANDING ..................... 2,627,088 8,208,421 1,771,757
=========== =========== ===========
NET ASSET VALUE PER SHARE................ $ 11.33 $ 8.65 $ 10.78
=========== =========== ===========
-------------------
(1) Small Capitalization Growth Portfolio commenced operations on December 29,
1999.
(2) Core Value Portfolio commenced operations on February 28, 2000.
See Notes to Financial Statements.
--4--
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------------------------
THE GLENMEDE FUND, INC.
------------------------
STATEMENTS OF OPERATIONS
FOR THE SIX MONTHS ENDED APRIL 30, 2000 -- (UNAUDITED)
TAX- CORE
GOVERNMENT EXEMPT FIXED
CASH CASH INCOME
PORTFOLIO PORTFOLIO PORTFOLIO
----------- ---------- -----------
Investment income:
Interest............................... $11,316,186 $7,106,380 $ 7,281,710
----------- ---------- -----------
Total investment income.............. 11,316,186 7,106,380 7,281,710
----------- ---------- -----------
Expenses:
Administration fee..................... 72,627 71,084 35,542
Professional fees...................... 22,220 24,436 13,772
Interest expense....................... -- -- 505,414
Pricing fees........................... 1,561 9,044 5,262
Shareholder report expense............. 2,730 3,595 3,241
Shareholder servicing fees ............ 102,221 98,466 47,646
Custodian fee.......................... 12,740 9,699 9,320
Directors' fees and expenses........... 2,812 5,822 3,116
Registration and filing fees........... 945 1,247 --
Other expenses......................... 3,704 4,650 2,076
----------- ---------- -----------
Total expenses....................... 221,560 228,043 625,389
----------- ---------- -----------
Net investment income ................. 11,094,626 6,878,337 6,656,321
----------- ---------- -----------
Realized and unrealized loss:
Net realized loss on:
Securities transactions.............. -- -- (2,413,125)
----------- ---------- -----------
Net realized loss.................... -- -- (2,413,125)
----------- ---------- -----------
Net change in unrealized appreciation/
depreciation of:
Securities........................... -- -- (2,539,115)
----------- ---------- -----------
Net unrealized appreciation/depreciation -- -- (2,539,115)
----------- ---------- -----------
Net realized and unrealized loss.......... -- -- (4,952,240)
----------- ---------- -----------
Net increase in net assets
resulting from operations.............. $11,094,626 $6,878,337 $ 1,704,081
=========== ========== ===========
See Notes to Financial Statements.
--5--
<PAGE>
------------------------
THE GLENMEDE FUND, INC.
------------------------
STATEMENTS OF OPERATIONS -- (CONTINUED)
FOR THE SIX MONTHS ENDED APRIL 30, 2000 -- (UNAUDITED)
SMALL
STRATEGIC CAPITALIZATION LARGE CAP
EQUITY VALUE VALUE
PORTFOLIO(3) PORTFOLIO(4) PORTFOLIO
----------- ---------- -----------
Investment income:
Dividends (net of foreign
withholding taxes)(1)................ $ 755,460 $ 1,981,272 $ 341,221
Interest.............................. 130,583 128,931 5,759
----------- ---------- -----------
Total investment income............. 886,043 2,110,203 346,980
----------- ---------- -----------
Expenses:
Investment advisory fee .............. -- 771,685 --
Administration fee.................... 28,994 50,716 7,276
Professional fees..................... 8,882 30,290 5,498
Shareholder report expense............ 2,457 21,918 2,184
Shareholder servicing fees
(Advisor Class(2))................... 40,703 314,893 10,061
Shareholder servicing fees
(Institutional Class(2)) ............ -- 7,174 --
Custodian fee......................... 5,205 9,846 2,335
Directors' fees and expenses.......... 1,684 4,278 823
Registration and filing fees.......... 2,862 13,071 1,692
Other expenses........................ 1,185 3,062 413
----------- ---------- -----------
Total expenses...................... 91,972 1,226,933 30,282
----------- ---------- -----------
Net investment income................. 794,071 883,270 316,698
----------- ---------- -----------
Realized and unrealized gain:
Net realized gain on:
Securities transactions............. 18,173,865 22,291,262 1,327,602
----------- ---------- -----------
Net realized gain................... 18,173,865 22,291,262 1,327,602
----------- ---------- -----------
Net change in unrealized appreciation/
depreciation of:
Securities including options........ 6,487,948 23,191,104 (4,406,695)
----------- ---------- -----------
Net unrealized appreciation/
depreciation ..................... 6,487,948 23,191,104 (4,406,695)
----------- ---------- -----------
Net realized and unrealized gain/(loss)... 24,661,813 45,482,366 (3,079,093)
----------- ---------- -----------
Net increase/(decrease) in net assets
resulting from operations.............. $25,455,884 $46,365,636 $(2,762,395)
=========== =========== ===========
-------------------
(1) The Strategic Equity Portfolio had foreign dividend withholding taxes of
$8,485.
(2) For Small Capitalization Value Portfolio only.
(3) On February 28, 2000, Tax Managed Equity Portfolio changed its name to
Strategic Equity Portfolio.
(4) On February 28, 2000, Small Capitalization Equity Portfolio changed its name
to Small Capitalization Value Portfolio.
See Notes to Financial Statements.
--6--
<PAGE>
------------------------
THE GLENMEDE FUND, INC.
------------------------
STATEMENTS OF OPERATIONS -- (CONTINUED)
FOR THE SIX MONTHS ENDED APRIL 30, 2000 -- (UNAUDITED)
.........
INSTITUTIONAL EMERGING
INTERNATIONAL INTERNATIONAL MARKETS
PORTFOLIO PORTFOLIO PORTFOLIO
------------- ------------ ----------
Investment income:
Dividends (net of foreign
withholding taxes)(1).............. $ 15,795,598 $ 2,144,722 $ 376,383
Interest............................. 1,105,874 340,102 --
------------- ------------ ----------
Total investment income............ 16,901,472 2,484,824 376,383
------------- ------------ ----------
Expenses:
Investment advisory fee ............. -- 836,891 491,809
Administration fee................... 269,954 38,959 14,255
Professional fees.................... 62,379 6,590 7,114
Pricing fees......................... 6,812 4,994 2,897
Shareholder report expense........... 7,252 4,040 4,903
Shareholder servicing fees .......... 387,751 -- --
Custodian fee........................ 89,812 7,320 124,181
Directors' fees and expenses......... 17,589 2,193 2,126
Registration and filing fees......... 10,699 8,616 --
Other expenses....................... 8,808 2,296 1,431
------------- ------------ ----------
Total expenses..................... 861,056 911,899 648,716
------------- ------------ ----------
Net investment income/(expenses in excess
of investment income).............. 16,040,416 1,572,925 (272,333)
------------- ------------ ----------
Realized and unrealized gain/(loss):
Net realized gain/(loss) on:
Securities transactions............ 117,696,232 16,331,029 14,794,779
Foreign currency transactions...... (2,334,223) (752,623) (322,450)
------------- ------------ ----------
Net realized gain.................. 115,362,009 15,578,406 14,472,329
------------- ------------ ----------
Net change in unrealized appreciation/
depreciation of:
Securities including options....... (110,255,086) (19,258,897) (1,981,996)
Foreign currency translation....... (1,030,067) (162,593) 12,003
------------- ------------ ----------
Net unrealized appreciation/
depreciation..................... (111,285,153) (19,421,490) (1,969,993)
------------- ------------ ----------
Net realized and unrealized gain/(loss). 4,076,856 (3,843,084) 12,502,336
------------- ------------ ----------
Net increase/(decrease) in net assets
resulting from operations............ $ 20,117,272 $ (2,270,159)$12,230,003
============= ============ ===========
-----------------------
(1) The International Portfolio, Institutional International Portfolio and
Emerging Markets Portfolio had foreign dividend withholding taxes of
$2,087,903, $280,390 and $38,980, respectively.
See Notes to Financial Statements.
--7--
<PAGE>
------------------------
THE GLENMEDE FUND, INC.
------------------------
STATEMENTS OF OPERATIONS -- (CONCLUDED)
FOR THE SIX MONTHS ENDED APRIL 30, 2000 -- (UNAUDITED)
SMALL
GLOBAL CAPITALIZATION CORE
EQUITY GROWTH VALUE
PORTFOLIO PORTFOLIO(2) PORTFOLIO(3)
----------- ------------ ------------
Investment income:
Dividends (net of foreign
withholding taxes)(1) $ 294,599 $ 7,008 $ 26,866
Interest............................... 11,847 190,876 8,506
----------- ------------ --------
Total investment income.............. 306,446 197,884 35,372
----------- ------------ --------
Expenses:
Investment advisory fee ............... 105,946 153,042 11,830
Registration and filing fees........... 303 372 189
Administration fee..................... 5,483 6,352 950
Professional fees...................... 12,925 3,551 1,804
Shareholder report expense............. 2,671 1,463 743
Shareholder servicing fees............. -- 44,940 --
Pricing fees........................... 10,518 -- 1,318
Custodian fee.......................... 8,537 3,720 1,890
Directors' fees and expenses........... 563 657 334
Other expenses......................... 1,161 425 169
----------- ------------ --------
Total expenses....................... 148,107 214,522 19,227
----------- ------------ --------
Net investment income/(expenses in excess of
investment income).................. 158,339 (16,638) 16,145
=========== ============ ========
Realized and unrealized gain/(loss):
Net realized gain/(loss) on:
Securities transactions.............. 1,252,182 (3,484,677) 48,958
Foreign currency transactions........ (37,043) -- --
----------- ------------ --------
Net realized gain/(loss)............. 1,215,139 (3,484,677) 48,958
----------- ------------ --------
Net change in unrealized appreciation/
depreciation of:
Securities including options......... (1,494,740) (8,288,365) 894,867
Foreign currency translation......... (10,554) -- --
----------- ------------ --------
Net unrealized appreciation/
depreciation (1,505,294) (8,288,365) 894,867
----------- ------------ --------
Net realized and unrealized gain/(loss)... (290,155) (11,773,042) 943,825
----------- ------------ --------
Net increase/(decrease) in net assets
resulting from operations.............. $ (131,816)$(11,789,680) $959,970
=========== ============ ========
------------------
(1) The Global Equity Portfolio had foreign dividend withholding taxes of
$33,388.
(2) Small Capitalization Growth Portfolio commenced operations on December 29,
1999.
(3) Core Value Portfolio commenced operations on February 28, 2000.
See Notes to Financial Statements.
--8--
<PAGE>
------------------------
THE GLENMEDE FUND, INC.
------------------------
STATEMENTS OF CHANGES IN NET ASSETS
FOR THE SIX MONTHS ENDED APRIL 30, 2000 -- (UNAUDITED)
TAX- CORE
GOVERNMENT EXEMPT FIXED
CASH CASH INCOME
PORTFOLIO PORTFOLIO PORTFOLIO
------------ ----------- -----------
Net investment income.................. $ 11,094,626 $ 6,878,337 $ 6,656,321
Net realized loss on:
Security transactions............... -- -- (2,413,125)
Net change in unrealized appreciation/
depreciation of:
Securities.......................... -- -- (2,539,115)
------------ ------------ ------------
Net increase in net assets resulting
from operations..................... 11,094,626 6,878,337 1,704,081
Distributions to shareholders from:
Net investment income............... (11,094,626) (6,878,337) (6,910,013)
Net increase/(decrease) in net assets from
capital share transactions.......... (14,424,835) 38,620,281 (46,931,447)
------------ ------------ ------------
Net increase/(decrease) in net assets.. (14,424,835) 38,620,281 (52,137,379)
NET ASSETS:
Beginning of period.................... 405,907,448 350,032,482 230,684,188
------------ ------------ ------------
End of period.......................... $391,482,613 $388,652,763 $178,546,809
============ ============ ============
--------------------------------------------------------------------------------
FOR THE YEAR ENDED OCTOBER 31, 1999
TAX- CORE
GOVERNMENT EXEMPT FIXED
CASH CASH INCOME
PORTFOLIO PORTFOLIO PORTFOLIO
------------ ------------ ------------
Net investment income.................. $ 23,644,029 $ 11,041,964 $ 15,832,383
Net realized loss on:
Security transactions............... -- -- (1,959,380)
Net change in unrealized appreciation/
depreciation of:
Securities.......................... -- -- (12,047,888)
------------ ------------ ------------
Net increase in net assets resulting
from operations..................... 23,644,029 11,041,964 1,825,115
Distributions to shareholders from:
Net investment income............... (23,644,029) (11,041,964) (15,879,969)
Net decrease in net assets from
capital share transactions.......... (24,257,637) (25,891,941) (14,247,142)
------------ ------------ ------------
Net decrease in net assets............. (24,257,637) (25,891,941) (28,301,996)
NET ASSETS:
Beginning of year...................... 430,165,085 375,924,423 258,986,184
------------ ------------ ------------
End of year............................ $405,907,448 $350,032,482 $230,684,188
============ ============ ============
See Notes to Financial Statements.
--9---
<PAGE>
------------------------
THE GLENMEDE FUND, INC.
------------------------
STATEMENTS OF CHANGES IN NET ASSETS -- (CONTINUED)
FOR THE SIX MONTHS ENDED APRIL 30, 2000 -- (UNAUDITED)
SMALL
STRATEGIC CAPITALIZATION LARGE CAP
EQUITY VALUE VALUE
PORTFOLIO(2) PORTFOLIO(3) PORTFOLIO
------------ ------------ ------------
Net investment income.................. $ 794,071 $ 883,270 $ 316,698
Net realized gain on:
Security transactions including
options........................... 18,173,865 22,291,263 1,327,602
Net change in unrealized appreciation/
depreciation of:
Securities.......................... 6,487,948 23,191,104 (4,406,695)
------------ ------------ ------------
Net increase/(decrease) in
net assets resulting
from operations..................... 25,455,884 46,365,637 (2,762,395)
Distributions to shareholders from:
Net investment income
(Advisor Class(1))................ (726,710) (827,039) (294,195)
Net investment income
(Institutional Class(1)).......... -- (108,375) --
Net realized gain on investments.... (156,681) -- (385,068)
Net decrease in net assets from
capital share transactions........... (1,129,219) (45,585,004) (32,989,733)
------------ ------------ ------------
Net increase/(decrease) in net assets.. 23,443,274 (154,781) (36,431,391)
NET ASSETS:
Beginning of period.................... 148,783,678 281,812,458 59,178,004
------------ ------------ ------------
End of period.......................... $172,226,952 $281,657,677 $ 22,746,613
============ ============ ============
--------------------------------------------------------------------------------
FOR THE YEAR ENDED OCTOBER 31, 1999
SMALL
STRATEGIC CAPITALIZATION LARGE CAP
EQUITY VALUE VALUE
PORTFOLIO(2) PORTFOLIO(3) PORTFOLIO
------------ ------------ ------------
Net investment income.................. $ 1,803,001 $ 4,097,753 $ 928,494
Net realized gain/(loss) on:
Security transactions including
options.............................. 14,604,117 (21,112,207) 11,038,346
Net change in unrealized appreciation of:
Securities........................... 16,672,595 15,487,511 1,102,108
------------ ------------ ------------
Net increase/(decrease) in net assets resulting
from operations...................... 33,079,713 (1,526,943) 13,068,948
Distributions to shareholders from:
Net investment income
(Advisor Class(1)).................. (1,837,172) (3,515,853) (1,001,562)
Net investment income
(Institutional Class(1))............ -- (518,163) --
Net realized gain on investments..... (14,731,224) -- (11,060,260)
Net decrease in net assets from
capital share transactions............ (20,328,277) (52,016,589) (8,449,461)
------------ ------------ ------------
Net decrease in net assets.............. (3,816,960) (57,577,548) (7,442,335)
NET ASSETS:
Beginning of year....................... 152,600,638 339,390,006 66,620,339
------------ ------------ ------------
End of year............................. $148,783,678 $281,812,458 $ 59,178,004
============ ============ ============
---------------
(1) For Small Capitalization Value Portfolio only.
(2) On February 28, 2000, Tax Managed Equity Portfolio changed its name to
Strategic Equity Portfolio.
(3) On February 28, 2000, Small Capitalization Equity Portfolio changed its name
to Small Capitalization Value Portfolio.
See Notes to Financial Statements.
--10--
<PAGE>
------------------------
THE GLENMEDE FUND, INC.
------------------------
STATEMENTS OF CHANGES IN NET ASSETS -- (CONTINUED)
FOR THE SIX MONTHS ENDED APRIL 30, 2000 -- (UNAUDITED)
INSTITUTIONAL EMERGING
INTERNATIONAL INTERNATIONAL MARKETS
PORTFOLIO PORTFOLIO PORTFOLIO
------------ ------------ ------------
Net investment income/(expenses in
excess of investment income)....... $ 16,040,416 $ 1,572,925 $ (272,333)
Net realized gain/(loss) on:
Security transactions including
options.......................... 117,696,232 16,331,029 14,794,779
Foreign currency transactions...... (2,334,223) (752,623) (322,450)
Net change in unrealized appreciation/
depreciation of:
Securities......................... (111,285,153) (19,421,490) (1,981,996)
Foreign currency translation....... -- -- 12,003
-------------- ------------ ------------
Net increase/(decrease) in net assets resulting
from operations.................... 20,117,272 (2,270,159) 12,230,003
Distributions to shareholders from:
Net investment income ............. (12,073,537) (1,111,237) --
Net increase/(decrease) in net assets from
capital share transactions.......... 51,957,187 63,374,803 (21,017,490)
-------------- ------------ ------------
Net increase/(decrease) in net assets. 60,000,922 59,993,407 (8,787,487)
NET ASSETS:
Beginning of period.................. 1,500,558,886 175,951,090 73,174,298
-------------- ------------ ------------
End of period ....................... $1,560,559,808 $235,944,497 $ 64,386,811
============== ============ ============
--------------------------------------------------------------------------------
FOR THE YEAR ENDED OCTOBER 31, 1999
INSTITUTIONAL EMERGING
INTERNATIONAL INTERNATIONAL MARKETS
PORTFOLIO PORTFOLIO PORTFOLIO
-------------- ------------ ------------
Net investment income /(expenses in
excess of investment income)....... $ 33,380,577 $ 2,471,023 $ (109,589)
Net realized gain/(loss) on:
Security transactions including
options.......................... 84,936,877 7,631,695 7,297,717
Foreign currency transactions...... (449,376) (165,993) (810,395)
Net change in unrealized appreciation/
depreciation of:
Securities......................... 167,629,466 17,099,963 16,533,844
Foreign currency translation....... (74,442) (5,972) 51,350
-------------- ------------ ------------
Net increase in net assets resulting
from operations.................... 285,423,102 27,030,716 22,962,927
Distributions to shareholders from:
Net investment income ............. (43,332,727) (3,353,836) --
Net realized gain on investments... (81,571,581) (7,782,284) --
Net increase/(decrease) in net assets
from capital share transactions..... 204,848,287 61,329,386 (5,577,232)
-------------- ------------ ------------
Net increase in net assets............ 365,367,081 77,223,982 17,385,695
NET ASSETS:
Beginning of year..................... 1,135,191,805 98,727,108 55,788,603
-------------- ------------ ------------
End of year........................... $1,500,558,886 $175,951,090 $ 73,174,298
============== ============ ============
See Notes to Financial Statements.
--11--
<PAGE>
------------------------
THE GLENMEDE FUND, INC.
------------------------
STATEMENTS OF CHANGES IN NET ASSETS -- (CONCLUDED)
FOR THE SIX MONTHS ENDED APRIL 30, 2000 -- (UNAUDITED)
SMALL
GLOBAL CAPITALIZATION CORE
EQUITY GROWTH VALUE
PORTFOLIO PORTFOLIO(1) PORTFOLIO(2)
----------- ------------ ------------
Net investment income/(expenses in
excess of investment income)......... $ 158,339 $ (16,638) $ 16,145
Net realized gain/(loss) on:
Security transactions including
options............................. 1,252,182 (3,484,677) 48,958
Foreign currency transactions........ (37,043) -- --
Net change in unrealized appreciation/
depreciation of:
Securities........................... (1,494,740) (8,288,365) 894,867
Foreign currency translation......... (10,554) -- --
----------- ------------ -----------
Net increase/(decrease) in net assets
resulting from operations............ (131,816) (11,789,680) 959,970
Distributions to shareholders from:
Net investment income ............... (131,354) -- (15,744)
Net increase/(decrease) in net
assets from capital share
transactions and other transactions .. (20,097) 82,775,443 18,148,893
----------- ------------ -----------
Net increase/(decrease) in net assets... (283,267) 70,985,763 19,093,119
NET ASSETS:
Beginning of period..................... 30,039,521 -- --
----------- ------------ -----------
End of period........................... $29,756,254 $ 70,985,763 $19,093,119
=========== ============ ===========
--------------------------------------------------------------------------------
FOR THE YEAR ENDED OCTOBER 31, 1999
GLOBAL
EQUITY
PORTFOLIO
-----------
Net investment income................... $ 412,214
Net realized gain on:
Security transactions including
options............................ 1,377,113
Foreign currency transactions........ 2,384
Net change in unrealized appreciation/
depreciation of:
Securities........................... 3,450,215
Foreign currency translation......... (1,723)
-----------
Net increase in net assets resulting
from operations...................... 5,240,203
Distributions to shareholders from:
Net investment income................ (616,853)
Net realized gain on investments..... (1,221,117)
Net increase in net assets from capital
share transactions and other
transactions......................... 1,326,639
-----------
Net increase in net assets.............. 4,728,872
NET ASSETS:
Beginning of year....................... 25,310,649
-----------
End of year............................. $30,039,521
===========
---------------------
(1) Small Capitalization Growth Portfolio commenced operations on December 29,
1999.
(2) Core Value Portfolio commenced operations on February 28, 2000.
See Notes to Financial Statements.
--12--
<PAGE>
------------------------
THE GLENMEDE FUND, INC.
------------------------
FINANCIAL HIGHLIGHTS
FOR A SHARE OUTSTANDING THROUGHOUT EACH PERIOD
<TABLE>
<CAPTION>
GOVERNMENT CASH PORTFOLIO
SIX MONTHS ------------------------------------------------
ENDED YEAR ENDED OCTOBER 31,
APRIL 30, ------------------------------------------------
2000(3) 1999 1998 1997 1996 1995
-------- -------- -------- -------- -------- --------
<S> <C> <C> <C> <C> <C> <C>
Net asset value, beginning
of period............... $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00
-------- -------- -------- -------- -------- --------
Net investment income...... 0.025 0.049 0.051 0.054 0.053 0.059
Distributions from net
investment income....... (0.025) (0.049) (0.051) (0.054) (0.053) (0.059)
-------- -------- -------- -------- -------- --------
Net asset value, end
of period............... $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00
======== ======== ======== ======== ======== ========
Total Return(1)............ 2.79% 5.00% 5.63% 5.53% 5.46% 5.87%
======== ======== ======== ======== ======== ========
Ratios to average net assets/ Supplemental data:
Net assets, end of period
(in 000's).............. $391,483 $405,907 $430,165 $451,038 $452,395 $408,605
Ratio of operating expenses to
average net assets...... 0.11%(2) 0.11% 0.11% 0.13% 0.16% 0.15%
Ratio of net investment income
to average net assets... 5.54%(2) 4.87% 5.41% 5.39% 5.32% 5.71%
---------------------
<FN>
(1) Total return represents aggregate total return for the period indicated.
(2) Annualized.
(3) Unaudited.
</FN>
</TABLE>
See Notes to Financial Statements.
--13--
<PAGE>
------------------------
THE GLENMEDE FUND, INC.
------------------------
FINANCIAL HIGHLIGHTS
FOR A SHARE OUTSTANDING THROUGHOUT EACH PERIOD
<TABLE>
<CAPTION>
TAX-EXEMPT CASH PORTFOLIO
SIX MONTHS ------------------------------------------------
ENDED YEAR ENDED OCTOBER 31,
APRIL 30, ------------------------------------------------
2000(3) 1999 1998 1997 1996 1995
-------- -------- -------- -------- -------- --------
<S> <C> <C> <C> <C> <C> <C>
Net asset value, beginning
of period............... $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00
-------- -------- -------- -------- -------- --------
Net investment income...... 0.018 0.030 0.034 0.034 0.034 0.038
Distributions from net
investment income....... (0.018) (0.030) (0.034) (0.034) (0.034) (0.038)
-------- -------- -------- -------- -------- --------
Net asset value, end
of period............... $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00
======== ======== ======== ======== ======== ========
Total Return(1)............ 1.75% 3.02% 3.41% 3.46% 3.42% 3.76%
======== ======== ======== ======== ======== ========
Ratios to average net assets/ Supplemental data:
Net assets, end of period
(in 000's).............. $388,653 $350,032 $375,924 $280,950 $224,999 $222,808
Ratio of operating expenses to
average net assets...... 0.12%(2) 0.12% 0.13% 0.14% 0.15% 0.15%
Ratio of net investment income
to average net assets... 3.49%(2) 2.97% 3.37% 3.40% 3.36% 3.69%
---------------------
<FN>
(1) Total return represents aggregate total return for the period indicated.
(2) Annualized.
(3) Unaudited.
</FN>
</TABLE>
See Notes to Financial Statements.
--14--
<PAGE>
------------------------
THE GLENMEDE FUND, INC.
------------------------
FINANCIAL HIGHLIGHTS
FOR A SHARE OUTSTANDING THROUGHOUT EACH PERIOD
<TABLE>
<CAPTION>
CORE FIXED INCOME PORTFOLIO
SIX MONTHS ------------------------------------------------
ENDED YEAR ENDED OCTOBER 31,
APRIL 30, ------------------------------------------------
2000(4) 1999 1998 1997 1996 1995
-------- -------- -------- -------- -------- --------
<S> <C> <C> <C> <C> <C> <C>
Net asset value, beginning
of period ........... $ 10.16 $ 10.70 $ 10.46 $ 10.29 $ 10.36 $ 9.89
-------- -------- -------- -------- -------- --------
Income from investment
operations:
Net investment income...... 0.34 0.63 0.64 0.68 0.66 0.69
Net realized and unrealized
gain/(loss) on investments (0.23) (0.54) 0.24 0.17 (0.08) 0.46
-------- -------- -------- -------- -------- --------
Total from investment
operations.............. 0.11 0.09 0.88 0.85 0.58 1.15
-------- -------- -------- -------- -------- --------
Less Distributions from:
Net investment income...... (0.34) (0.63) (0.64) (0.68) (0.65) (0.68)
-------- -------- -------- -------- -------- --------
Total distributions........ (0.34) (0.63) (0.64) (0.68) (0.65) (0.68)
-------- -------- -------- -------- -------- --------
Net asset value, end
of period............... $ 9.93 $ 10.16 $ 10.70 $ 10.46 $ 10.29 $ 10.36
======== ======== ======== ======== ======== ========
Total Return(1)............ 1.08% 0.91% 9.32% 8.63% 5.88% 12.06%
======== ======== ======== ======== ======== ========
Ratios to average net assets/ Supplemental data:
Net assets, end of period
(in 000's).............. $178,547 $230,684 $258,986 $266,733 $259,503 $342,874
Ratio of operating expenses to
average net assets...... 0.12%(3) 0.12% 0.11% 0.13% 0.16% 0.11%
Ratio of gross expenses to
average net assets...... 0.64%(2,3) 0.55%(2) 0.99%(2) 0.43%(2) 0.16% 0.11%
Ratio of net investment income
to average net assets... 6.79%(3) 6.08% 6.58% 6.67% 6.37% 6.67%
Portfolio turnover rate.... 88% 191% 93% 307% 47% 228%
--------------------
<FN>
(1) Total return represents aggregate total return for the period indicated.
(2) The annualized gross expense ratio includes interest expense. The ratios
excluding interest expense for the six month period ended April 30, 2000,
and the years ended October 31, 1999, 1998, and 1997 were 0.12%, 0.12%,
0.11%, and 0.13%, respectively.
(3) Annualized.
(4) Unaudited.
</FN>
</TABLE>
See Notes to Financial Statements.
--15--
<PAGE>
------------------------
THE GLENMEDE FUND, INC.
------------------------
FINANCIAL HIGHLIGHTS
FOR A SHARE OUTSTANDING THROUGHOUT EACH PERIOD
<TABLE>
<CAPTION>
STRATEGIC EQUITY PORTFOLIO(4)
SIX MONTHS ------------------------------------------------
ENDED YEAR ENDED OCTOBER 31,
APRIL 30, ------------------------------------------------
2000(3) 1999 1998 1997 1996 1995
-------- -------- -------- -------- -------- --------
<S> <C> <C> <C> <C> <C> <C>
Net asset value, beginning
of period............... $ 22.70 $ 20.69 $ 20.11 $ 16.79 $ 14.67 $ 12.56
-------- -------- -------- -------- -------- --------
Income from investment
operations:
Net investment income...... 0.12 0.28 0.37 0.28 0.41 0.32
Net realized and unrealized
gain on investments..... 3.78 4.51 1.02 5.69 3.73 2.64
-------- -------- -------- -------- -------- --------
Total from investment
operations.............. 3.90 4.79 1.39 5.97 4.14 2.96
-------- -------- -------- -------- -------- --------
Less Distributions from:
Net investment income...... (0.11) (0.28) (0.36) (0.28) (0.40) (0.33)
Net realized capital gains. (0.02) (2.50) (0.45) (2.37) (1.62) (0.52)
-------- -------- -------- -------- -------- --------
Total distributions........ (0.13) (2.78) (0.81) (2.65) (2.02) (0.85)
-------- -------- -------- -------- -------- --------
Net asset value, end of period $ 26.47 $ 22.70 $ 20.69 $ 20.11 $ 16.79 $ 14.67
======== ======== ======== ======== ======== ========
Total Return(1)............ 17.24% 23.88% 7.00% 36.39% 28.65% 23.78%
======== ======== ======== ======== ======== ========
Ratios to average net assets/
Supplemental data:
Net assets, end of period
(in 000's).............. $172,227 $148,784 $152,601 $140,495 $94,185 $80,157
Ratio of operating expenses
to average net assets... 0.12%(2) 0.12% 0.12% 0.13% 0.17% 0.14%
Ratio of net investment income
to average net assets... 0.99%(2) 1.17% 1.71% 1.91% 2.26% 2.32%
Portfolio turnover rate.... 25% 40% 52% 26% 36% 70%
---------------------
<FN>
(1) Total return represents aggregate total return for the period indicated.
(2) Annualized.
(3) Unaudited.
(4) On February 28, 2000, Tax Managed Equity Portfolio changed its name to
Strategic Equity Portfolio.
</FN>
</TABLE>
See Notes to Financial Statements.
--16--
<PAGE>
------------------------
THE GLENMEDE FUND, INC.
------------------------
FINANCIAL HIGHLIGHTS
FOR A SHARE OUTSTANDING THROUGHOUT EACH PERIOD
<TABLE>
<CAPTION>
SMALL CAPITALIZATION VALUE PORTFOLIO ADVISOR SHARES(4)
SIX MONTHS ------------------------------------------------------
ENDED YEAR ENDED OCTOBER 31,
APRIL 30, ------------------------------------------------------
2000(3) 1999 1998 1997 1996 1995
-------- -------- -------- -------- -------- --------
<S> <C> <C> <C> <C> <C> <C>
Net asset value, beginning
of period............... $ 15.04 $ 15.28 $ 19.06 $ 16.12 $ 14.98 $ 13.95
-------- -------- -------- -------- -------- --------
Income from investment
operations:
Net investment income...... 0.06 0.20 0.19 0.38 0.33 0.28
Net realized and unrealized
gain/(loss) on investments 2.65 (0.25) (3.66) 6.32 2.38 2.69
-------- -------- -------- -------- -------- --------
Total from investment
operations.............. 2.71 (0.05) (3.47) 6.70 2.71 2.97
-------- -------- -------- -------- -------- --------
Less Distributions from:
Net investment income...... (0.06) (0.19) (0.19) (0.37) (0.33) (0.26)
Net realized capital gains. -- -- (0.12) (3.39) (1.24) (1.68)
-------- -------- -------- -------- -------- --------
Total distributions........ (0.06) (0.19) (0.31) (3.76) (1.57) (1.94)
-------- -------- -------- -------- -------- --------
Net asset value, end
of period............... $ 17.69 $ 15.04 $ 15.28 $ 19.06 $ 16.12 $ 14.98
======== ======== ======== ======== ======== ========
Total Return(1)............ 18.01% (0.32) % (18.35)% 41.80% 18.22% 21.15%
======== ======== ======== ======== ======== ========
Ratios to average net assets/ Supplemental data:
Net assets, end of period
(in 000's).............. $255,221 $253,357 $307,596 $434,656 $308,415 $170,969
Ratio of operating expenses
to average net assets... 0.90%(2) 0.88% 0.76% 0.12% 0.17% 0.14%
Ratio of net investment income
to average net assets... 0.61%(2) 1.27% 1.07% 2.00% 2.15% 1.92%
Portfolio turnover rate.... 29% 77% 42% 59% 37% 57%
-----------------------
<FN>
(1) Total return represents aggregate total return for the period indicated.
(2) Annualized.
(3) Unaudited.
(4) On February 28, 2000, Small Capitalization Equity Portfolio changed its name
to Small Capitalization Value Portfolio.
</FN>
</TABLE>
See Notes to Financial Statements.
--17--
<PAGE>
------------------------
THE GLENMEDE FUND, INC.
------------------------
FINANCIAL HIGHLIGHTS
FOR A SHARE OUTSTANDING THROUGHOUT EACH PERIOD
SMALL CAPITALIZATION VALUE PORTFOLIO INSTITUTIONAL SHARES(5)
------------------------------------------------------------
FOR THE PERIOD
FOR THE SIX FOR THE JANUARY 2, 1998(1)
MONTHS ENDED YEAR ENDED THROUGH
APRIL 30, 2000(4) OCTOBER 31, 1999 OCTOBER 31, 1998
---------------------------------------------------
Net asset value, beginning
of period.................. $ 15.01 $ 15.29 $ 19.33
------- ------- -------
Income from investment
operations:
Net investment income......... 0.07 0.23 0.15
Net realized and unrealized
gain/(loss) on investments. 2.65 (0.24) (3.94)
------- ------- -------
Total from investment
operations................. 2.72 (0.01) (3.79)
------- ------- -------
Less Distributions from:
Net investment income......... (0.07) (0.27) (0.13)
Net realized capital gains.... -- -- (0.12)
------- ------- -------
Total distributions........... (0.07) (0.27) (0.25)
------- ------- -------
Net asset value, end
of period.................. $ 17.66 $ 15.01 $ 15.29
======= ======= =======
Total Return(2)............... 18.10% (0.10)% (19.69)%
======= ======= =======
Ratios to average net assets/
Supplemental data:
Net assets, end of period
(in 000's)................. $26,437 $28,455 $31,794
Ratio of operating expenses
to average net assets...... 0.70%(3) 0.68% 0.69%(3)
Ratio of net investment income
to average net assets...... 0.81%(3) 1.47% 1.07%(3)
Portfolio turnover rate....... 29% 77% 42%
----------------------
(1) Commencement of operations.
(2) Total return represents aggregate total return for the period indicated.
(3) Annualized.
(4) Unaudited.
(5) On February 28, 2000, Small Capitalization Equity Portfolio changed its name
to Small Capitalization Value Portfolio.
See Notes to Financial Statements.
--18---
<PAGE>
------------------------
THE GLENMEDE FUND, INC.
------------------------
FINANCIAL HIGHLIGHTS
FOR A SHARE OUTSTANDING THROUGHOUT EACH PERIOD
<TABLE>
<CAPTION>
LARGE CAP VALUE PORTFOLIO
SIX MONTHS ------------------------------------------------
ENDED YEAR ENDED OCTOBER 31,
APRIL 30, ------------------------------------------------
2000(3) 1999 1998 1997 1996 1995
-------- -------- -------- -------- -------- --------
<S> <C> <C> <C> <C> <C> <C>
Net asset value, beginning
of period............... $ 11.24 $ 11.77 $ 13.29 $ 11.68 $ 10.34 $ 10.62
-------- -------- -------- -------- -------- --------
Income from investment
operations:
Net investment income...... 0.11 0.18 0.24 0.29 0.26 0.32
Net realized and unrealized
gain/(loss) on investments (0.71) 2.00 0.35 3.95 1.49 1.38
-------- -------- -------- -------- -------- --------
Total from investment
operations.............. (0.60) 2.18 0.59 4.24 1.75 1.70
-------- -------- -------- -------- -------- --------
Less Distributions from:
Net investment income...... (0.09) (0.19) (0.25) (0.29) (0.27) (0.31)
Net realized capital gains. (0.08) (2.52) (1.86) (2.34) (0.14) (1.67)
-------- -------- -------- -------- -------- --------
Total distributions........ (0.17) (2.71) (2.11) (2.63) (0.41) (1.98)
-------- -------- -------- -------- -------- --------
Net asset value, end
of period............... $ 10.47 $ 11.24 $ 11.77 $ 13.29 $ 11.68 $ 10.34
======== ======== ======== ======== ======== ========
Total Return(1)............ (5.43)% 19.59% 4.77% 36.55% 17.13% 16.01%
======== ======== ======== ======== ======== ========
Ratios to average net assets/
Supplemental data:
Net assets, end of period
(in 000's).............. $ 22,747 $ 59,178 $ 66,620 $ 71,177 $ 50,131 $ 15,981
Ratio of operating expenses
to average net assets... 0.15%(2) 0.13% 0.12% 0.13% 0.15% 0.20%
Ratio of net investment income
to average net assets... 1.60%(2) 1.28% 1.74% 2.10% 2.62% 2.80%
Portfolio turnover rate.... 55% 105% 132% 109% 104% 227%
---------------------
<FN>
(1) Total return represents aggregate total return for the period indicated.
(2) Annualized.
(3) Unaudited.
</FN>
</TABLE>
See Notes to Financial Statements.
--19--
<PAGE>
------------------------
THE GLENMEDE FUND, INC.
------------------------
FINANCIAL HIGHLIGHTS
FOR A SHARE OUTSTANDING THROUGHOUT EACH PERIOD
<TABLE>
<CAPTION>
INTERNATIONAL PORTFOLIO
SIX MONTHS ----------------------------------------------------
ENDED YEAR ENDED OCTOBER 31,
APRIL 30, ----------------------------------------------------
2000(3) 1999 1998 1997 1996 1995
---------- ---------- ---------- --------- -------- --------
<S> <C> <C> <C> <C> <C> <C>
Net asset value, beginning
of period................ $ 17.87 $ 15.66 $ 15.11 $ 13.87 $ 12.70 $ 13.04
---------- ---------- ---------- --------- -------- --------
Income from investment
operations:
Net investment income....... 0.20 0.48 0.37 0.39 0.40 0.32
Net realized and unrealized
gain on investments...... 0.04 3.33 0.74 1.89 1.29 0.23
---------- ---------- ---------- --------- -------- --------
Total from investment
operations............... 0.24 3.81 1.11 2.28 1.69 0.55
---------- ---------- ---------- --------- -------- --------
Less Distributions from:
Net investment income....... (0.14) (0.57) (0.40) (0.35) (0.43) (0.32)
Net realized capital gains.. -- (1.03) (0.16) (0.62) (0.04) (0.57)
In excess of net realized gains -- -- -- -- (0.05) --
In excess of net investment
income................... -- -- -- (0.07) -- --
---------- ---------- ---------- --------- -------- --------
Total distributions......... (0.14) (1.60) (0.56) (1.04) (0.52) (0.89)
---------- ---------- ---------- --------- -------- --------
Net asset value, end
of period................ $ 17.97 $ 17.87 $ 15.66 $ 15.11 $ 13.87 $ 12.70
========== ========== ========== ========= ======== ========
Total Return(1)............. 1.32% 24.65% 7.44% 16.35% 13.47% 4.23%
========== ========== ========== ========= ======== ========
Ratios to average net assets/ Supplemental data:
Net assets, end of period
(in 000's)............... $1,560,560 $1,500,559 $1,135,192 $1,051,102 $643,459 $343,209
Ratio of operating expenses
to average net assets.... 0.11%(2) 0.11% 0.13% 0.14% 0.18% 0.18%
Ratio of net investment income
to average net assets.... 2.07%(2) 2.52% 2.32% 2.77% 3.05% 2.61%
Portfolio turnover rate..... 19% 20% 19% 15% 6% 24%
---------------------
<FN>
(1) Total return represents aggregate total return for the period indicated.
(2) Annualized.
(3) Unaudited.
</FN>
</TABLE>
See Notes to Financial Statements.
--20--
<PAGE>
------------------------
THE GLENMEDE FUND, INC.
------------------------
FINANCIAL HIGHLIGHTS
FOR A SHARE OUTSTANDING THROUGHOUT EACH PERIOD
<TABLE>
<CAPTION>
INSTITUTIONAL INTERNATIONAL PORTFOLIO
SIX MONTHS ------------------------------------------------
ENDED YEAR ENDED OCTOBER 31,
APRIL 30, ------------------------------------------------
2000(3) 1999 1998 1997 1996 1995
---------- -------- -------- -------- -------- --------
<S> <C> <C> <C> <C> <C> <C>
Net asset value, beginning
of period............... $ 17.82 $ 15.53 $ 14.89 $ 13.67 $ 12.34 $ 12.63
-------- -------- -------- -------- -------- --------
Income from investment
operations:
Net investment income...... 0.21 0.39 0.26 0.27 0.28 0.19
Net realized and unrealized
gain/(loss) on investments (0.32) 3.15 0.81 1.86 1.50 (0.13)
-------- -------- -------- -------- -------- --------
Total from investment
operations.............. (0.11) 3.54 1.07 2.13 1.78 0.06
-------- -------- -------- -------- -------- --------
Less Distributions from:
Net investment income...... (0.08) (0.40) (0.28) (0.22) (0.25) (0.18)
Net realized capital gains. -- (0.85) (0.15) (0.61) (0.14) (0.17)
In excess of net realized
capital gains........... -- -- -- -- (0.06) --
In excess of net investment
income.................. -- -- -- (0.08) -- --
-------- -------- -------- -------- -------- --------
Total distributions........ (0.08) (1.25) (0.43) (0.91) (0.45) (0.35)
-------- -------- -------- -------- -------- --------
Net asset value, end
of period............... $ 17.63 $ 17.82 $ 15.53 $ 14.89 $ 13.67 $ 12.34
======== ======== ======== ======== ======== ========
Total Return(1)............ (0.63)% 22.98% 7.26% 15.54% 14.46% 0.38%
======== ======== ======== ======== ======== ========
Ratios to average net assets/ Supplemental data:
Net assets, end of period
(in 000's).............. $235,944 $175,951 $ 98,727 $ 81,659 $ 58,390 $ 44,206
Ratio of operating expenses
to average net assets... 0.81%(2) 0.86% 0.87% 0.87% 0.95% 0.93%
Ratio of net investment income
to average net assets... 1.40%(2) 1.83% 1.58% 1.94% 2.06% 1.78%
Portfolio turnover rate.... 34% 20% 19% 15% 10% 25%
----------------------
<FN>
(1) Total return represents aggregate total return for the period indicated.
(2) Annualized.
(3) Unaudited.
</FN>
</TABLE>
See Notes to Financial Statements.
--21--
<PAGE>
------------------------
THE GLENMEDE FUND, INC.
------------------------
FINANCIAL HIGHLIGHTS
FOR A SHARE OUTSTANDING THROUGHOUT EACH PERIOD
<TABLE>
<CAPTION>
EMERGING MARKETS PORTFOLIO
------------------------------------ FOR THE PERIOD
FOR THE SIX DECEMBER 14, 1994(1)
MONTHS ENDED YEAR ENDED OCTOBER 31, THROUGH
APRIL 30, -------------------------------------- OCTOBER 31,
2000(4) 1999 1998 1997 1996 1995
-------- -------- -------- -------- -------- --------
<S> <C> <C> <C> <C> <C> <C>
Net asset value, beginning
of period............... $ 8.29 $ 5.87 $ 9.05 $ 9.52 $ 9.73 $ 10.00
-------- -------- -------- -------- -------- --------
Income from investment
operations:
Net investment income (expenses
in excess of income).... (0.06) (0.01) 0.02 0.03 0.06 0.16
Net realized and unrealized
gain/(loss) on investments 1.05 2.43 (3.20) 0.09 (0.16) (0.31)
-------- -------- -------- -------- -------- --------
Total from investment
operations.............. 0.99 2.42 (3.18) 0.12 (0.10) (0.15)
-------- -------- -------- -------- -------- --------
Less Distributions from:
Net investment income...... -- -- -- (0.02) (0.08) (0.12)
Net realized capital gains. -- -- -- (0.57) (0.03) --
-------- -------- -------- -------- -------- --------
Total distributions........ -- -- -- (0.59) (0.11) (0.12)
-------- -------- -------- -------- -------- --------
Net asset value, end
of period............... $ 9.28 $ 8.29 $ 5.87 $ 9.05 $ 9.52 $ 9.73
======== ======== ======== ======== ======== ========
Total Return(2)............ 11.94% 41.23% (35.14)% 1.01% (0.96) % (1.96)%
======== ======== ======== ======== ======== ========
Ratios to average net assets/Supplemental data:
Net assets, end of period
(in 000's).............. $ 64,387 $ 73,174 $ 55,789 $ 95,012 $ 86,385 $ 27,297
Ratio of operating expenses to
average net assets...... 1.64%(3) 1.75% 1.85% 1.73% 1.76% 1.81%(3)
Ratio of net investment income
(expenses in excess of
income) to average net assets (0.69)%(3) (0.16)% 0.26% 0.29% 0.80% 1.87%(3)
Portfolio turnover rate.... 61% 134% 113% 94% 44% 50%
----------------
<FN>
(1) Commencement of operations.
(2) Total return represents aggregate total return for the period indicated.
(3) Annualized.
(4) Unaudited.
</FN>
</TABLE>
See Notes to Financial Statements.
--22--
<PAGE>
------------------------
THE GLENMEDE FUND, INC.
------------------------
FINANCIAL HIGHLIGHTS
FOR A SHARE OUTSTANDING THROUGHOUT EACH PERIOD
GLOBAL EQUITY PORTFOLIO
----------------------------------------------------
FOR THE PERIOD
FOR THE SIX FOR THE NOVEMBER 3, 1997(1)
MONTHS ENDED YEAR ENDED THROUGH
APRIL 30, 2000(4) OCTOBER 31, 1999 OCTOBER 31, 1998
----------------------------------------------------
Net asset value, beginning
of period.................. $ 11.43 $ 10.05 $ 10.00
Income from investment
operations:
Net investment income......... 0.06 0.18 0.15
Net realized and unrealized
gain/(loss) on investments. (0.11) 1.94 0.09
------- ------- -------
Total from investment
operations................. (0.05) 2.12 0.24
------- ------- -------
Less Distributions from:
Net investment income......... (0.05) (0.25) (0.12)
Net realized capital gains.... -- (0.49) (0.07)
------- ------- -------
Total distributions........... (0.05) (0.74) (0.19)
------- ------- -------
Net asset value, end
of period.................. $ 11.33 $ 11.43 $ 10.05
======= ======= =======
Total Return(2)............... (0.53)% 21.18% 2.29%
======= ======= =======
Ratios to average net assets/Supplemental data:
Net assets, end of period
(in 000's)................. $29,756 $30,040 $25,311
Ratio of operating expenses to
average net assets......... 0.98%(3) 0.93% 0.88%(3)
Ratio of net investment income
to average net assets...... 1.04%(3) 1.43% 1.43%(3)
Portfolio turnover rate....... 24% 43% 48%
------------------
(1) Commencement of operations.
(2) Total return represents aggregate total return for the period indicated.
(3) Annualized.
(4) Unaudited.
See Notes to Financial Statements.
--23--
<PAGE>
------------------------
THE GLENMEDE FUND, INC.
------------------------
FINANCIAL HIGHLIGHTS
FOR A SHARE OUTSTANDING THROUGHOUT EACH PERIOD
SMALL CAPITALIZATION
GROWTH PORTFOLIO
-------------------------
FOR THE PERIOD
DECEMBER 29, 1999(1)
THROUGH APRIL 30, 2000(2)
-------------------------
Net asset value, beginning of period......................... $ 10.00
Income from investment operations:
Expenses in excess of investment income...................... (0.00)(5)
Net realized and unrealized loss on investments.............. (1.35)
-------
Total from investment operations............................. (1.35)
-------
Net asset value, end of period............................... $ 8.65
=======
Total Return(3).............................................. (13.50)%
=======
Ratios to average net assets/Supplemental data:
Net assets, end of period (in 000's)......................... $70,986
Ratio of operating expenses to average net assets............ 0.87%(4)
Ratio of expenses in excess of income to average net assets.. (0.07)%(4)
Portfolio turnover rate...................................... 24%
-----------------------
(1) Commencement of operations.
(2) Unaudited.
(3) Total return represents aggregate total return for the period indicated.
(4) Annualized.
(5) Represents less than 0.01 per share.
See Notes to Financial Statements.
--24--
<PAGE>
------------------------
THE GLENMEDE FUND, INC.
------------------------
FINANCIAL HIGHLIGHTS
FOR A SHARE OUTSTANDING THROUGHOUT EACH PERIOD
CORE VALUE PORTFOLIO
-------------------------
FOR THE PERIOD
FEBRUARY 28, 2000(1)
THROUGH APRIL 30, 2000(2)
-------------------------
Net asset value, beginning of period......................... $ 10.00
Income from investment operations:
Net investment income........................................ 0.01
Net realized and unrealized gain on investments.............. 0.78
-------
Total from investment operations............................. 0.79
-------
Less Distributions from:
Net investment income........................................ (0.01)
-------
Total distributions.......................................... (0.01)
-------
Net asset value, end of period............................... $ 10.78
=======
Total Return(3).............................................. 7.90%
=======
Ratios to average net assets/Supplemental data:
Net assets, end of period (in 000's)......................... $19,093
Ratio of operating expenses to average net assets............ 0.73%(4)
Ratio of net investment income to average net assets......... 0.61%(4)
Portfolio turnover rate...................................... 39%
------------------
(1) Commencement of operations.
(2) Unaudited.
(3) Total return represents aggregate total return for the period indicated.
(4) Annualized.
See Notes to Financial Statements.
--25--
<PAGE>
------------------------
THE GLENMEDE FUND, INC.
------------------------
GOVERNMENT CASH PORTFOLIO
SCHEDULE OF PORTFOLIO INVESTMENTS
APRIL 30, 2000 -- (UNAUDITED)
FACE
AMOUNT VALUE
-------- -------
AGENCY DISCOUNT NOTES(1) -- 9.2%
Farmer Mac Discount Note -- 2.8%
$6,000,000 5.891% due 5/18/00.................................... $ 5,983,538
5,000,000 6.146% due 7/5/00..................................... 4,945,382
-----------
10,928,920
-----------
Federal Home Loan Mortgage Corporation -- 3.8%
5,000,000 5.76% due 5/25/00..................................... 4,981,300
5,000,000 6.016% due 5/30/00.................................... 4,975,995
5,000,000 6.10% due 6/29/00..................................... 4,950,751
-----------
14,908,046
-----------
Federal National Mortgage Association -- 2.6%
5,000,000 5.934% due 6/1/00..................................... 4,974,813
5,000,000 6.079% due 6/22/00.................................... 4,956,667
-----------
9,931,480
-----------
TOTAL AGENCY DISCOUNT NOTES
(Amortized Cost $35,768,446)........................ 35,768,446
-----------
AGENCY NOTES -- 6.9%
U.S. Government Agencies & Obligations -- 6.9%
Federal Home Loan Bank,
4,000,000 5.50% due 7/14/00................................... 3,997,251
5,000,000 5.01% due 9/21/00................................... 4,980,132
Federal National Mortgage Association --
Medium Term Notes,
3,000,000 5.56% due 7/24/00................................... 2,999,025
2,000,000 6.36% due 8/16/00................................... 2,003,117
Student Loan Market Association,
3,000,000 6.382% due 5/18/00.................................. 3,000,000
5,000,000 6.152% due 7/20/00.................................. 5,000,000
5,000,000 5.932% due 9/21/00.................................. 5,000,000
-----------
TOTAL AGENCY NOTES
(Amortized Cost $26,979,525)........................ 26,979,525
-----------
U.S. TREASURY BILLS -- 25.5%
100,000,000 U. S. Treasury Bills, 5.34% due 5/4/00................ 99,955,500
-----------
TOTAL U.S. TREASURY BILLS
(Amortized Cost $99,955,500)........................ 99,955,500
-----------
See Notes to Financial Statements.
--26--
<PAGE>
------------------------
THE GLENMEDE FUND, INC.
------------------------
GOVERNMENT CASH PORTFOLIO
SCHEDULE OF PORTFOLIO INVESTMENTS -- (CONTINUED)
APRIL 30, 2000 -- (UNAUDITED)
FACE
AMOUNT VALUE
-------- -------
REPURCHASE AGREEMENTS -- 58.7%
$62,000,000 With Bear Stearns Co., Inc., 5.85% 5/1/00 (dated 4/28/00,
collateralized by $65,734,569 Federal National Mortgage
Association adjustable rate #296043, 6.152% due 1/1/34,
market value $64,373,962).......................... $ 62,000,000
15,000,000 With Bear Stearns Co., Inc., 6.01% 5/4/00 (dated 4/4/00,
collateralized by $6,824,174 Federal National Mortgage
Association #1993-155 FK, 4.2375% due 12/25/15, market
value $6,943,430 and $4,283,413 Federal Home Loan
Mortgage Corporation #2154 F, 5.40% due 5/15/29,
market value $4,128,947 and $5,000,000 Federal Home
Loan Mortgage Corporation #2037 PE, 6.00% due 7/15/09,
market value $4,795,938)........................... 15,000,000
15,000,000 With Bear Stearns Co., Inc., 6.02% 5/22/00 (dated 3/22/00,
collateralized by $3,062,026 Federal Home Loan
Mortgage Corporation #2159 F, 5.32% due 3/15/29,
market value $3,042,454 and $7,282,871 Federal Home
Loan Mortgage Association #219, 5.975% due 12/15/27,
market value $7,209,534 and $5,247,303 Federal Home
Loan Mortgage Corporation
#2073 FA 6.00% due 2/15/27, market value $5,062,808).. 15,000,000
15,000,000 With Credit Suisse First Boston, Inc., 6.02% 5/22/00
(dated 3/22/00, collateralized by $15,485,807
Government National Mortgage Association #1999-24 FA,
5.50% due 5/20/26, market value $15,300,533)....... 15,000,000
15,000,000 With Greenwich Capital Acceptance, Inc., 5.95% 5/22/00
(dated 4/20/00, collateralized by $16,637,078 Federal
Home Loan Mortgage Corporation #2200 NA, 6.50% due
11/15/29, market value $14,950,494)................ 15,000,000
15,000,000 With Merrill Lynch and Co., Inc., 6.04% 6/5/00 (dated
4/4/00, collateralized by $15,220,166 Federal National
Mortgage Association #G93-1 H, 6.70% due 2/25/21,
market value $15,044,563).......................... 15,000,000
See Notes to Financial Statements.
--27--
<PAGE>
------------------------
THE GLENMEDE FUND, INC.
------------------------
GOVERNMENT CASH PORTFOLIO
SCHEDULE OF PORTFOLIO INVESTMENTS -- (CONCLUDED)
APRIL 30, 2000 -- (UNAUDITED)
FACE
AMOUNT VALUE
-------- -------
REPURCHASE AGREEMENTS -- (CONTINUED)
$62,954,854 With Prudential Securities, Inc., 5.83% 5/1/00
(dated 4/28/00, collateralized by $37,424,430 Federal
National Mortgage Association #457270 Adjustable Rate
Mortgage, 5.84% due 11/1/28, market value $37,588,349
and $27,401,870 Federal Home Mortgage Association
#492274 Adjustable Rate Mortage, 7.329% due 10/1/38,
market value $26,721,790).......................... $ 62,954,854
15,000,000 With Prudential Securities, Inc., 5.98% 5/5/00 (dated
4/5/00, collateralized by $15,665,000 Federal National
Mortgage Association #1999-46 PC, 6.50% due 3/25/15,
market value $15,609,193).......................... 15,000,000
15,000,000 With Salomon Smith Barney, Inc., 5.97% 5/24/00
(dated 4/24/00, collateralized by $15,403,000 Federal
National Mortgage Association #1996-35 D, 7.00% due
3/25/23, market value $15,243,194)................. 15,000,000
-------------
TOTAL REPURCHASE AGREEMENTS
(Amortized Cost $229,954,854)..................... 229,954,854
------------
TOTAL INVESTMENTS (Amortized Cost $392,658,325)........... 100.3% $392,658,325
LIABILITIES IN EXCESS OF OTHER ASSETS..................... (0.3) (1,175,712)
----- ------------
NET ASSETS................................................ 100.0% $391,482,613
===== ============
----------------
(1) Rate represents annualized discount yield at date of purchase.
See Notes to Financial Statements.
--28--
<PAGE>
------------------------
THE GLENMEDE FUND, INC.
------------------------
TAX-EXEMPT CASH PORTFOLIO
SCHEDULE OF PORTFOLIO INVESTMENTS
APRIL 30, 2000 -- (UNAUDITED)
FACE
AMOUNT VALUE
-------- -------
VARIABLE/FLOATING RATE NOTES(1) -- 81.9%
DAILY VARIABLE/FLOATING RATE NOTES -- 20.0%
$ 2,000,000 California Pollution Control, California,
(Shell Oil Project B),
5.90% due 10/1/08................................. $ 2,000,000
2,100,000 Delaware County, Pennsylvania, Industrial Development
Authority, Airport Facilities Revenue, (United Parcel
Service Project),
5.95% due 12/1/15................................. 2,100,000
2,600,000 East Baton Rouge Parish, Louisiana, Pollution Control
Revenue, (Exxon Project),
6.05% due 11/1/19................................. 2,600,000
2,700,000 Forsyth, Montana, Pollution Control Revenue, (Pacificorp
Project), (LOC: Rabobank Nederland N.V.),
6.10% due 1/1/18.................................. 2,700,000
1,700,000 Gulf Coast, Texas, Waste Disposal Authority,
(Exxon Project),
6.05% due 6/1/20.................................. 1,700,000
500,000 Hapeville, Georgia, Development Authority, Industrial
Development Revenue, (Hapeville Hotel Limited),
(LOC: Deutsche Bank A.G.),
6.05% due 11/1/15................................. 500,000
3,400,000 Harris County, Texas, Health Facilities Development
Corporation, (Tirr Project), (LOC: Texas Commerce Bank),
6.10% due 10/1/17................................. 3,400,000
1,400,000 Harris County, Texas, Health Facilities Development
Corporation, (St. Lukes Episcopal Hospital),
Series A, (SPA: Morgan Guaranty Trust),
6.00% due 2/15/27................................. 1,400,000
600,000 Harris County, Texas, Health Facilities Development
Corporation, (St. Lukes Episcopal Hospital),
Series B, (SPA: Morgan Guaranty Trust),
6.00% due 2/15/27................................. 600,000
1,200,000 Harris County, Texas, Health Facilities Development
Corporation, Special Facilities Revenue, (Texas
Medical Center Project), (MBIA Insured),
(SPA: Texas Commerce Bank N.A.),
6.10% due 2/15/22................................. 1,200,000
700,000 Irvine Ranch, California Water District
(LOC: CommerzBank A.G.),
5.90% due 9/1/06.................................. 700,000
1,200,000 La Crosse, Wisconsin, Pollution Control Revenue,
(Dairyland Power Cooperative B), (AMBAC Insured),
(SPA: Rabobank Nederland N.V.),
4.70% due 2/1/15.................................. 1,200,000
See Notes to Financial Statements.
--29--
<PAGE>
------------------------
THE GLENMEDE FUND, INC.
------------------------
TAX-EXEMPT CASH PORTFOLIO
SCHEDULE OF PORTFOLIO INVESTMENTS -- (CONTINUED)
APRIL 30, 2000 -- (UNAUDITED)
FACE
AMOUNT VALUE
-------- -------
VARIABLE/FLOATING RATE NOTES -- (CONTINUED)
$ 1,300,000 La Crosse, Wisconsin, Industrial Development Revenue,
(Dairyland Power Cooperative C), (AMBAC Insured),
(SPA: Rabobank Nederland N.V.),
6.05% due 2/1/15.................................. $ 1,300,000
2,400,000 Lehigh County, Pennsylvania, General Purpose Authority
Revenue, (Lehigh Valley Hospital), Series A, (AMBAC
Insured), (SPA: Chase ManhattanBank),
5.95% due 7/1/28.................................. 2,400,000
1,100,000 Los Angeles, California, Regional Airports Improvement
Corporation Lease Revenue, (American Airlines, Inc.),
Series C, (LOC: Wachovia Bank of Georgia),
6.00% due 12/1/24................................. 1,100,000
2,320,000 Massachusetts State, Health & Educational Facilities
Authority Revenue, (Capital Asset Project), Series C,
(MBIA Insured), (SPA: Credit Suisse First Boston),
6.00% due 7/1/05.................................. 2,320,000
4,200,000 Massachusetts State, Health & Educational Facilities
Authority Revenue, (Capital Asset Project), Series D,
(MBIA Insured), (SPA: State Street B&TCo.),
6.05% due 1/1/35.................................. 4,200,000
1,700,000 New Jersey Economic Development Authority, Water Facilities
Revenue, (United Water New Jersey Inc.), Series B,
(AMBAC Insured), (SPA:Bank of New York),
6.10% due 11/1/25................................. 1,700,000
3,600,000 New York City, New York, Municipal Water Finance
Authority, Water and Sewer Systems Revenue,
Series C, (FGIC Insured),
6.05% due 6/15/22................................. 3,600,000
3,700,000 New York, New York, G.O., Subseries B-7, (AMBAC Insured),
(SPA: Morgan Guaranty Trust),
6.05% due 8/15/18................................. 3,700,000
1,100,000 North Carolina Medical Care, Community Hospital Revenue,
(Lexington Memorial Hospital Project),
(LOC:Wachovia Bank N.A.),
6.00% due 4/1/10.................................. 1,100,000
5,850,000 North Carolina Medical Care, Community Hospital Revenue,
(Pooled Project), Series A, (LOC: Bank of America N.A.),
6.00% due 10/1/16................................. 5,850,000
6,100,000 Ohio State, Air Quality Development Authority, Series B,
(LOC: J.P. Morgan Delaware),
6.10% due 12/1/15................................. 6,100,000
See Notes to Financial Statements.
--30--
<PAGE>
------------------------
THE GLENMEDE FUND, INC.
------------------------
TAX-EXEMPT CASH PORTFOLIO
SCHEDULE OF PORTFOLIO INVESTMENTS -- (CONTINUED)
APRIL 30, 2000 -- (UNAUDITED)
FACE
AMOUNT VALUE
-------- -------
VARIABLE/FLOATING RATE NOTES -- (CONTINUED)
$1,800,000 Perry County, Mississippi, Pollution Control Revenue,
(Leaf River Forest Project), (LOC-Wachovia Bank),
5.90% due 3/1/02.................................. $ 1,800,000
2,000,000 Port of Portland, Oregon, Pollution Control Revenue,
(Reynold Metals), (LOC: Bank of Nova Scotia),
6.00% due 12/1/09................................. 2,000,000
1,200,000 Princeton, Indiana, Pollution Control Revenue, (PSI
Energy Project), (LOC: Morgan Guaranty Trust),
6.05% due 4/1/22.................................. 1,200,000
6,500,000 Roanoke, Virginia, Industrial Development Authority,
Hospital Revenue, (Carilion Health Systems), Series B,
(SPA: Nationsbank),
6.00% due 7/1/27.................................. 6,500,000
6,000,000 Wake County, North Carolina, Industrial Facilities &
Pollution Control Financing Authority, (Carolina Power
& Light Company Project), Series A, (LOC: Bank of
New York),
6.10% due 6/15/14................................. 6,000,000
2,340,000 Washington State Health Care Facility Authority
Revenue, (Sisters of Providence), Series C,
(SPA:Rabobank Nederland),
5.90% due 10/1/05................................. 2,340,000
1,700,000 Washington State Health Care Facility Authority
Revenue, (Sisters of Providence), Series E,
(SPA:Rabobank Nederland),
6.10% due 10/1/05................................. 1,700,000
1,400,000 Washington State Health Care Facility Authority Revenue,
(Fred Hutchinson Cancer Center), (LOC:Morgan
Guaranty Trust),
5.90% due 1/1/23.................................. 1,400,000
1,200,000 Washington State Health Care Facility Authority Revenue,
(Fred Hutchinson Cancer Center), Series A, (LOC:Morgan
Guaranty Trust),
6.10% due 1/1/18.................................. 1,200,000
-----------
TOTAL DAILY VARIABLE/FLOATING RATE NOTES
(Cost $77,610,000)................................ 77,610,000
-----------
WEEKLY VARIABLE/FLOATING RATE NOTES -- 61.3%
1,100,000 Alabama Special Care Facilities, Finance Authority,
(Montgomery Hospital Revenue), (FGIC Insured),
(SPA: Barclays Bank PLC),
5.00% due 4/1/15.................................. 1,100,000
8,100,000 Burke County, Georgia, Development Authority, Pollution
Control Revenue, (Oglethorpe Power Corporation),
Series A, (FGIC Insured), (SPA: Credit Local de France),
5.05% due 1/1/19.................................. 8,100,000
See Notes to Financial Statements.
--31--
<PAGE>
------------------------
THE GLENMEDE FUND, INC.
------------------------
TAX-EXEMPT CASH PORTFOLIO
SCHEDULE OF PORTFOLIO INVESTMENTS -- (CONTINUED)
APRIL 30, 2000 -- (UNAUDITED)
FACE
AMOUNT VALUE
-------- -------
VARIABLE/FLOATING RATE NOTES -- (CONTINUED)
$ 800,000 California State, Health Facilities, Financing Authority
Revenue, (Childrens Hospital Project), (MBIA Insured),
(SPA:Rabobank Nederland N.V.),
5.00% due 11/1/21................................. $ 800,000
3,905,000 Charlotte, North Carolina, Airport Revenue, Series A,
(MBIA Insured), (SPA: Commerzbank A.G.),
5.00% due 7/1/16.................................. 3,905,000
1,980,000 Chicago, Illinois, O'Hare International Airport Revenue,
General Airport 2nd Lien -- B, (LOC: Societe Generale),
5.00% due 1/1/15.................................. 1,980,000
1,355,000 Clayton County, Georgia, Housing Authority, Multi-Family
Housing Revenue, (Huntington Woods), Series A, (FSA
Insured), (SPA: Societe Generale),
5.10% due 1/1/21.................................. 1,355,000
1,000,000 Clayton County, Georgia, Housing Authority, Multi-Family
Housing Revenue, (Kimberly Forest), Series B, (FSA
Insured), (SPA: Societe Generale),
5.10% due 1/1/21.................................. 1,000,000
1,100,000 Clayton County, Georgia, Housing Authority, Multi-Family
Housing Revenue, (Kings Arms Apartments), Series D,
(FSA Insured), (SPA: Societe Generale),
5.10% due 1/1/21.................................. 1,100,000
2,335,000 Clayton County, Georgia, Housing Authority, Multi-Family
Housing Revenue, (Ten Oaks Apartments), Series F,
(FSA Insured), (SPA: Societe Generale),
5.10% due 1/1/21.................................. 2,335,000
1,700,000 Colton, California, Redevelopment Agency, Multi-Family
Revenue, Issue A, (Guaranteed by Federal Home Loan Bank),
3.10% due 5/1/10.................................. 1,700,000
10,100,000 Connecticut State, Health and Education Facilities
Authority Revenue, (Yale University), Series T-2
5.20% due 7/1/29.................................. 10,100,000
1,105,000 Dade County, Florida, Aviation Revenue, Series A, (LOC:
Morgan Guaranty Trust),
4.95% due 10/1/09................................. 1,105,000
2,600,000 Dauphin County, Pennsylvania, General Authority Revenue,
(School District Pooled Financing Program II), (AMBAC
Insured), (SPA: Bank of Nova Scotia),
3.25% due 9/1/32.................................. 2,600,000
See Notes to Financial Statements.
--32--
<PAGE>
------------------------
THE GLENMEDE FUND, INC.
------------------------
TAX-EXEMPT CASH PORTFOLIO
SCHEDULE OF PORTFOLIO INVESTMENTS -- (CONTINUED)
APRIL 30, 2000 -- (UNAUDITED)
FACE
AMOUNT VALUE
-------- -------
VARIABLE/FLOATING RATE NOTES -- (CONTINUED)
$1,900,000 Durham, North Carolina, G.O., Public Improvement,
(SPA: Wachovia Bank of N.C.),
5.05% due 2/1/13.................................. $ 1,900,000
5,000,000 Emmaus, Pennsylvania, General Authority Revenue, (FSA
Insured), (SPA: First Union National Bank),
5.05% due 12/1/28................................. 5,000,000
600,000 Fairfax County, Virginia, Industrial Development
Authority Revenue, (Fairfax Hospital System -- C),
4.95% due 10/1/25................................. 600,000
2,000,000 Gloucester County, New Jersey, Industrial Pollution Control
Financing Authority Revenue, (Mobil Oil Refining Company
Project),
4.70% due 12/1/03................................. 2,000,000
5,000,000 Golden Empire, California, School Financing Authority,
(Kern High School District Projects), (LOC: Canadian
Imperial Bank),
4.90% due 8/1/26.................................. 5,000,000
2,800,000 Hamilton County, Ohio, Hospital Facilities Revenue, (Health
Alliance of Greater Cincinnati), Series E, (MBIA Insured),
(SPA: Credit Suisse First Boston),
4.95% due 1/1/18.................................. 2,800,000
2,600,000 Illinois Health Facilities Authority Revenue, (Decator
Memorial Hospital) (Project A), (MBIA Insured), (SPA:
Bank One Illinois),
5.00% due 11/15/24................................ 2,600,000
600,000 Illinois Health Facilities Authority Revenue, (Swedish
Covenant Hospital Project), (AMBAC Insured), (SPA:
Bank One Illinois),
5.00% due 8/1/25.................................. 600,000
5,900,000 Illinois Housing Development Authority, Housing Revenue,
(Illinois Center Apartments), (Met Life Guaranty
Insured), (SPA: KBC Bank),
4.95% due 1/1/08.................................. 5,900,000
2,100,000 Iowa Higher Education Loan Authority, Private College
Facilities Revenue, (MBIA Insured), (SPA: Chase
Manhattan Bank),
5.10% due 12/1/15................................. 2,100,000
8,000,000 Lisle, Illinois, Multi-Family Revenue, (Four Lakes
Phase V),
5.05% due 9/15/26................................. 8,000,000
2,700,000 Los Angeles County, California, Pension Obligation,
Series C, (AMBAC Insured), (SPA: Bank of Nova Scotia),
5.00% due 6/30/07................................. 2,700,000
See Notes to Financial Statements.
--33--
<PAGE>
------------------------
THE GLENMEDE FUND, INC.
------------------------
TAX-EXEMPT CASH PORTFOLIO
SCHEDULE OF PORTFOLIO INVESTMENTS -- (CONTINUED)
APRIL 30, 2000 -- (UNAUDITED)
FACE
AMOUNT VALUE
-------- -------
VARIABLE/FLOATING RATE NOTES -- (CONTINUED)
$ 3,215,000 Los Angeles, California, Multifamily Revenue, Series K,
(Guaranteed by Federal Home Loan Bank),
4.35% due 7/1/10.................................. $ 3,215,000
3,115,000 Louisiana Public Facilities Authority Revenue, College
and University Equipment and Capital, Series A,
(FGIC Insured), (SPA: Societe Generale),
5.10% due 9/1/10.................................. 3,115,000
4,100,000 Louisiana Public Facilities Authority Revenue,
(Multi-Family Mortgage -- Emberwood), (General
Electric Capital Guaranty Insured),
5.00% due 10/1/22................................. 4,100,000
7,700,000 Massachusetts State, Health & Educational Facilities
Authority Revenue, (Amherst College), Series F,
4.95% due 11/1/26................................. 7,700,000
700,000 Massachusetts State, Health & Educational Facilities
Authority Revenue, (Capital Asset Project), Series G-1,
(MBIA Insured), (SPA: State Street B&TCo.),
4.75% due 1/1/19.................................. 700,000
1,000,000 Massachusetts State, Housing Finance, Multi-Family
Housing Project, Series A, (LOC: FNMA),
4.95% due 1/15/10................................. 1,000,000
9,800,000 Massachusetts State, Water Resource Authority,
Series B, (LOC: HELABA),
4.95% due 8/1/28.................................. 9,800,000
5,400,000 Mecklenburg County, North Carolina, G.O., Public
Improvement, Series C, (SPA: First Union National Bank),
5.00% due 2/1/18.................................. 5,400,000
1,300,000 Michigan State, Strategic Fund, Industrial Development
Revenue, (Allen Group Incorporation Project), (LOC:
Dresdner Bank, A.G.),
5.05% due 11/1/25................................. 1,300,000
6,700,000 Missouri State, Health and Education Facilities
Authority, Christian Health Services, Series B,
(LOC: Morgan Guaranty Trust),
5.00% due 12/1/19................................. 6,700,000
5,000,000 Moffat County, Colorado, Pollution Control Revenue,
Fixed Colorado United Electric, (AMBAC Insured),
(SPA: Societe Generale),
5.00% due 7/1/10.................................. 5,000,000
5,500,000 Montgomery County, Maryland, Housing Opportunity
Commission, (Multi-Family Mortgage -- Falklands),
Series B, (Connecticut General Life Insured),
5.05% due 8/1/15.................................. 5,500,000
See Notes to Financial Statements.
--34--
<PAGE>
------------------------
THE GLENMEDE FUND, INC.
------------------------
TAX-EXEMPT CASH PORTFOLIO
SCHEDULE OF PORTFOLIO INVESTMENTS -- (CONTINUED)
APRIL 30, 2000 -- (UNAUDITED)
FACE
AMOUNT VALUE
-------- -------
VARIABLE/FLOATING RATE NOTES -- (CONTINUED)
$ 1,500,000 Mountain View, California, Multi-Family Housing Revenue,
(FGIC Insured),
5.00% due 3/1/17.................................. $ 1,500,000
1,300,000 Municipal Electric Authority of Georgia, Project One,
(LOC: ABN AMRO Bank N.V.),
5.10% due 1/1/26.................................. 1,300,000
1,200,000 New Jersey Economic Development Authority, Pollution
Control Revenue, Public Services Electric and Gas
Company, Series A, (MBIA Insured), (SPA: UBS A.G.),
4.70% due 9/1/12.................................. 1,200,000
4,200,000 New Jersey State, Turnpike Authority Revenue, Series D,
(FGIC Insured), (SPA: Societe Generale),
5.00% due 1/1/18.................................. 4,200,000
7,600,000 New York City, New York, Transitional Financial
Authority Revenue, Future Tax Secured, Series A-1,
(SPA: Societe Generale),
5.05% due 11/15/28................................ 7,600,000
4,300,000 New York State, Housing Finance Agency Revenue,
(Liberty View), Series A, (FNMAInsured),
4.95% due 11/15/19................................ 4,300,000
12,000,000 New York State, Local Government Assistance Corporation,
Series B, (LOC: Bayerische Landesbank 50%, Westdeutsche
Landesbank 50%),
5.00% due 4/1/23.................................. 12,000,000
900,000 New York State, Medical Care Facilities, Finance
Agency Revenue, (Lenox Hill Hospital), Series A,
(LOC: Chase Manhattan Bank),
4.85% due 11/1/08........................... ..... 900,000
10,000,000 Niagara County, New York, Industrial Development Agency,
Solid Waste Disposal Revenue, (American Ref.-- Fuel
Company), Series A, (LOC: Wachovia Bank of N.C.),
5.10% due 11/15/24................................ 10,000,000
1,000,000 Ohio State University, General Receipts
5.20% due 12/1/07................................. 1,000,000
5,300,000 Port Kalama, Washington, Public Corporation Port, Conagra
Incorporated Project, (LOC: Morgan Guaranty Trust),
5.15% due 1/1/04.................................. 5,300,000
2,300,000 Scottsdale, Arizona, Industrial Development Authority,
Hospital Revenue, (Scottsdale Memorial Health Systems),
Series B, (AMBAC Insured), (SPA: Credit Local de France),
5.00% due 9/1/22.................................. 2,300,000
See Notes to Financial Statements.
--35--
<PAGE>
------------------------
THE GLENMEDE FUND, INC.
------------------------
TAX-EXEMPT CASH PORTFOLIO
SCHEDULE OF PORTFOLIO INVESTMENTS -- (CONTINUED)
APRIL 30, 2000 -- (UNAUDITED)
FACE
AMOUNT VALUE
-------- -------
VARIABLE/FLOATING RATE NOTES -- (CONTINUED)
$ 1,000,000 Seattle, Washington, Municipal Light and Power Revenue,
(SPA: Morgan Guaranty Trust),
5.00% due 11/1/18................................. $ 1,000,000
2,440,000 Texas Higher Education Authority Incorporated, Series B,
(FGIC Insured),
5.10% due 12/1/25................................. 2,440,000
4,200,000 Tulsa, Oklahoma, Industrial Authority Revenue,
(University of Tulsa), Series B, (MBIA Insured),
(SPA: Credit Local de France),
5.10% due 10/1/26................................. 4,200,000
14,730,000 University of Alabama, University Revenue, (University
of Alabama in Birmingham), Series A, (SPA: Bank of
America),
5.05% due 10/1/07................................. 14,730,000
3,020,000 University of Utah, University Revenue, Auxiliary and
Campus Facilities, Series A, (SPA: Bank of Nova Scotia),
5.05% due 4/1/27.................................. 3,020,000
5,000,000 Utah State, Board of Regents, Student Loan Revenue,
Series B, (AMBAC Insured), (SPA: Dresdner Bank AG),
5.00% due 11/1/00................................. 5,000,000
6,000,000 Valdez, Alaska, Marine Terminal Revenue, (Mobil Oil
Pipeline-- A),
4.90% due 11/1/03................................. 6,000,000
7,200,000 Wake County, North Carolina, Industrial Facilities &
Pollution Control Financing Authority, (Carolina Power
& Light Company Project), Series A, (LOC: Wachovia Bank),
4.95% due 5/1/15.................................. 7,200,000
3,900,000 Washington State, G.O., Series 1996A, (SPA: Landesbank
Hessen-Thigne),
4.90% due 6/1/20.................................. 3,900,000
5,775,000 Washington State, Housing Finance Commission, Multi-Family
Mortgage Revenue, (Pacific First Federal Project),
Series A, (LOC: FHLB),
5.05% due 7/1/20.................................. 5,775,000
3,400,000 York County, Pennsylvania, Industrial Development
Authority, Pollution Control Revenue, (Public
Service Electric & Gas Project), Series A, (MBIA
Insured), (SPA: UBS AG),
4.95% due 9/1/20.................................. 3,400,000
------------
TOTAL WEEKLY VARIABLE/FLOATING RATE NOTES
(Cost $239,175,000)............................... 238,175,000
------------
See Notes to Financial Statements.
--36--
<PAGE>
------------------------
THE GLENMEDE FUND, INC.
------------------------
TAX-EXEMPT CASH PORTFOLIO
SCHEDULE OF PORTFOLIO INVESTMENTS -- (CONTINUED)
APRIL 30, 2000 -- (UNAUDITED)
FACE
AMOUNT VALUE
-------- -------
MONTHLY VARIABLE/FLOATING RATE NOTES -- 0.6%
$ 1,000,000 Knox County, Tennessee, Industrial Development Board,
Industrial Revenue, (Professional Plaza LTD Project),
(FGIC Insured), (SPA: BankBoston),
4.95% due 12/1/14................................. $ 1,000,000
1,400,000 New Hampshire State, Industrial Development Authority
Revenue, (Oerlikon-Burlhe USA), (LOC: UBS AG),
4.30% due 7/1/13.................................. 1,400,000
------------
TOTAL MONTHLY VARIABLE/FLOATING RATE NOTES
(Cost $2,400,000)................................. 2,400,000
------------
TOTAL VARIABLE/FLOATING RATE NOTES
(Amortized Cost $318,185,000)..................... 318,185,000
------------
PUT OPTION BONDS -- 2.9%
1,920,000 Clark County, Kentucky, Pollution Control Revenue,
East Kentucky Power, National Rural, Series J-1,
(CFC Insured),
3.10% due 10/15/14................................ 1,920,000
3,000,000 Utah County Environmental Revenue, (USX Corporation
Project), (LOC: Wachovia Bank),
3.85% due 5/2/00.................................. 3,000,000
6,515,000 York County, South Carolina, Pollution Control Revenue,
(CFC Insured),
4.05% due 9/15/14................................. 6,515,000
------------
TOTAL PUT OPTION BONDS
(Amortized Cost $11,435,000)...................... 11,435,000
------------
FIXED RATE BONDS -- 14.5%
2,000,000 Brownsville, Texas, Public Improvement (AMBAC Insured),
Prerefunded-- 2/15/01 @ $100,
6.75% due 2/15/12................................. 2,039,158
1,000,000 Colorado, Post-Secondary Educational Facilities
Authority, (Regis University Project), Revenue Bond,
(Connie Lee Insured), due 6/1/00 @ $102,
6.625% due 6/1/13................................. 1,022,355
1,000,000 Cuyahoga County, Ohio Hospital Revenue, (University
Hospital Cleveland), Prerefunded-- 8/15/00 @ $101,
6.50% due 8/15/12................................. 1,017,364
1,500,000 Delaware Transportation Authority, Transportation
System Revenue, (AMBAC Insured),
4.50% due 7/1/00.................................. 1,502,557
See Notes to Financial Statements.
--37--
<PAGE>
------------------------
THE GLENMEDE FUND, INC.
------------------------
TAX-EXEMPT CASH PORTFOLIO
SCHEDULE OF PORTFOLIO INVESTMENTS -- (CONTINUED)
APRIL 30, 2000 -- (UNAUDITED)
FACE
AMOUNT VALUE
-------- -------
FIXED RATE BONDS -- (CONTINUED)
$ 1,000,000 Denver, Colorado, City & County, G.O., Series C,
(Escrowed in U.S. Government Securities),
Prerefunded-- 8/1/00 @ $101,
5.75% due 8/1/07.................................. $ 1,015,052
1,000,000 Durham County, North Carolina, G.O.
4.50% due 5/1/00.................................. 1,000,000
1,000,000 Harrisburg, Pennsylvania, Authority Lease Revenue,
(FSA Insured),
6.25% due 6/1/00.................................. 1,001,944
1,500,000 Hawaii State, Series BT, Prerefunded-- 2/1/01 @ $101,
6.125% due 2/1/07................................. 1,535,490
5,555,000 Illinois Rural Building Bank Revenue, (Public Projects
Construction Notes),
4.00% due 7/15/00................................. 5,555,000
2,175,000 Indianapolis, Indiana, Public Improvement, Series B,
Revenue, Prerefunded -- 2/01/00 @ $102,
6.125% due 2/1/08................................. 2,247,728
1,000,000 Kentucky State, Property and Buildings Community
(Project 50), Prerefunded -- 02/01/01 @ $100,
6.00% due 2/1/10.................................. 1,013,055
1,000,000 Lancaster County, Pennsylvania, Hospital Authority
Revenue, (Lancaster General Hospital Project),
(AMBAC Insured),
5.60% due 7/1/00................................... 1,002,463
1,000,000 Monmouth County, New Jersey, (Water Treatment
Facilities), (MBIA Insured), Prerefunded--
8/01/00 @ $102,
6.875% due 8/1/12................................. 1,026,836
2,830,000 Montgomery County, Pennsylvania, G.O., Series A,
5.00% due 7/15/00................................. 2,837,626
9,010,000 New York State Dormitory Authority, (State
University Education), Series B, Prerefunded--
05/15/00 @ $102,
7.25% due 5/15/15................................. 9,200,843
1,500,000 Pennsylvania State Higher Educational Facility
Authority, (Thomas Jefferson University),
Prerefunded-- 11/01/00 @ $102,
7.55% due 11/1/10................................. 1,553,078
1,000,000 Philadelphia, Pennsylvania, Tax and Revenue Anticipation
Note, Series A, (LOC: First Union),
4.00% due 6/30/00................................. 1,000,870
2,500,000 Rhode Island State, Capital Development, Series B,
Prerefunded -- 5/15/00 @$102,
6.00% due 5/15/02................................. 2,551,786
See Notes to Financial Statements.
--38--
<PAGE>
------------------------
THE GLENMEDE FUND, INC.
------------------------
TAX-EXEMPT CASH PORTFOLIO
SCHEDULE OF PORTFOLIO INVESTMENTS -- (CONCLUDED)
APRIL 30, 2000 -- (UNAUDITED)
FACE
AMOUNT VALUE
-------- -------
FIXED RATE BONDS -- (CONTINUED)
$ 1,090,000 South Carolina State Highway, G.O.,
5.40% due 8/1/00.................................. $ 1,094,126
1,035,000 Sto-Rox, School District Pennsylvania, (FGIC State Aid
Withholding), Prerefunded -- 6/15/00 @ $100,
5.85% due 6/15/10................................. 1,037,186
8,000,000 Texas State, Tax and Revenue Anticipation Note, Series A,
4.50% due 8/31/00................................. 8,020,616
1,135,000 Upper Moreland Turnpike, Pennsylvania, School District,
Series A, (State Aid Withholding),Prerefunded--
2/15/01 @ $100,
5.85% due 8/15/16................................. 1,149,816
5,000,000 Ventura County, California, Tax and Revenue
Anticipation Note,
4.00% due 7/6/00.................................. 5,000,269
1,000,000 West York, Pennsylvania, (Area School District),
(FGIC State Aid Withholding), Prerefunded--
03/01/01 @ $100,
6.90% due 3/1/06.................................. 1,021,772
1,000,000 Wilmington, Delaware, G.O., (Ambac Insured),
Prerefunded-- 05/15/00 @ $102,
6.75% due 5/15/10................................. 1,021,206
------------
TOTAL FIXED RATE BONDS
(Amortized Cost $56,468,196)...................... 56,468,196
------------
TOTAL INVESTMENTS (Amortized Cost $386,088,196)......... 99.3% $386,088,196
LIABILITIES IN EXCESS OF OTHER ASSETS................... 0.7 2,564,567
----- ------------
NET ASSETS.............................................. 100.0% $388,652,763
===== ============
----------------
(1) Demand security; payable upon demand by the Fund with usually no more than
thirty (30), calendar days' notice. Interest rates are redetermined
periodically. Rates shown are those in effect as of April 30, 2000.
Abbreviations:
AMBAC -- AMBAC Assurance Corporation
CFC -- Cooperative Finance Corporation
FGIC -- Financial Guaranty Insurance Corporation
FSA -- Financial Security Assurance
GO -- General Obligation
LOC -- Letter of Credit
MBIA -- Municipal Bond Investors Assurance
SPA -- Stand-By Purchase Agreement
See Notes to Financial Statements.
--39--
<PAGE>
------------------------
THE GLENMEDE FUND, INC.
------------------------
CORE FIXED INCOME PORTFOLIO
SCHEDULE OF PORTFOLIO INVESTMENTS
APRIL 30, 2000 -- (UNAUDITED)
FACE
AMOUNT VALUE
-------- -------
MORTGAGE-BACKED SECURITIES(1) -- 45.6%
COUNTRYWIDE SECURITIES CORP. -- 1.1%
$ 2,034,818 Countrywide 1998-6 A 6.50% due 6/25/13 ............. $ 1,936,903
-----------
FEDERAL HOME LOAN MORTGAGE CORPORATION -- 2.2%
16,862 #555354 8.50% due 10/1/18 .......................... 17,057
119,046 #555359 6.50% due 4/1/08 ........................... 116,953
3,844 #555360 7.00% due 7/1/12 ........................... 3,735
910,911 #D78677 8.00% due 3/1/27 ........................... 911,476
1,001,909 #D84894 8.00% due 12/1/27 .......................... 1,001,909
198,521 #G00807 9.50% due 3/1/21 ........................... 206,154
1,713,128 #G10753 6.50% due 9/1/09 ........................... 1,668,381
-----------
3,925,665
-----------
FEDERAL NATIONAL MORTGAGE ASSOCIATION -- 42.3%
1,418,973 #252806 7.50% due 10/1/29 .......................... 1,389,631
1,186,062 #313672 7.024% due 6/1/07 .......................... 1,157,881
3,400,000 TBA 8.00% due 5/1/30 ............................... 3,394,696
545,153 #313795 9.50% due 11/25/27 ......................... 570,381
267,349 #313796 9.50% due 11/25/27 ......................... 281,169
1,414,315 #313815 6.50% due 11/25/27 ......................... 1,371,065
1,024,719 #373328 8.00% due 3/1/27 ........................... 1,024,073
3,719,306 #380159 6.21% due 5/1/08 ........................... 3,446,941
2,482,859 #390895 8.00% due 6/1/27 ........................... 2,481,295
4,814,013 #393877 7.50% due 7/1/27 ........................... 4,719,074
1,121,115 #395680 7.50% due 8/1/27 ........................... 1,099,005
916,844 #395715 8.00% due 8/1/27 ........................... 915,698
5,258,333 #397602 8.00% due 8/1/27 ........................... 5,251,760
1,113,285 #398674 7.50% due 9/1/27 ........................... 1,091,330
1,183,753 #405845 8.00% due 11/1/27 .......................... 1,182,274
916,314 #44174 6.50% due 11/1/03 ........................... 898,491
11,600,000 #522294 6.50% due 8/15/04(2) ....................... 11,279,144
147,337 #523497 7.50% due 11/1/29 .......................... 144,290
4,439,215 #73828 6.81% due 12/1/06 ........................... 4,286,062
7,321,355 #73829 6.565% due 12/1/03 .......................... 7,102,154
3,393,143 #73905 6.91% due 1/1/07 ............................ 3,292,062
4,305,723 #73917 6.95% due 1/1/07 ............................ 4,186,282
See Notes to Financial Statements.
--40--
<PAGE>
------------------------
THE GLENMEDE FUND, INC.
------------------------
CORE FIXED INCOME PORTFOLIO
SCHEDULE OF PORTFOLIO INVESTMENTS -- (CONTINUED)
APRIL 30, 2000 -- (UNAUDITED)
FACE
AMOUNT VALUE
-------- -------
MORTGAGE-BACKED SECURITIES -- (CONTINUED)
FEDERAL NATIONAL MORTGAGE ASSOCIATION-- (CONTINUED)
$ 5,700,000 #73924 6.585% due 2/1/07 ........................... $ 5,425,260
6,390,513 #73927 6.62% due 1/1/04 ............................ 6,207,041
3,397,411 #73954 6.851% due 2/1/07 ........................... 3,285,228
-----------
75,482,287
-----------
TOTAL MORTGAGE-BACKED SECURITIES
(Cost $83,551,458)................................ 81,344,855
-----------
COLLATERALIZED MORTGAGE OBLIGATIONS(1) -- 0.0%
561,335 FHR #1544 H 6.50% due 7/15/08 ...................... 14,792
-----------
TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS
(Cost $14,875).................................... 14,792
-----------
INTEREST- ONLY SECURITIES (3) -- 3.9%
1,561,567 FHG #16 PQ 7.00% due 4/25/21 ....................... 199,771
1,006,022 FHR #1529 JB 7.00% due 3/15/06 ..................... 171,161
12,900,000 FHR #1611 L 7.00% due 11/15/23 ..................... 3,959,694
567,182 FHR #1697 PV 6.00% due 4/15/06 ..................... 15,637
1,547,917 FNR #1997-40 PK 7.00% due 7/18/19 .................. 118,533
3,846,153 FNR #93-135 PI 6.50% due 7/25/08 ................... 861,515
1,127,450 FNR #93-167 L 7.00% due 8/25/19 .................... 79,784
871,672 FNR #93-147 K 7.00% due 6/25/20 .................... 69,158
59,173,169 Onyx #99-C 2.25% due 6/15/02 ....................... 1,264,826
8,158,655 UAC #97-B I 1.85% due 6/8/27 ....................... 64,576
31,221,140 UAC #99-AI 0.80% due 9/8/06 ........................ 246,959
-----------
TOTAL INTEREST- ONLY SECURITIES
(Cost $6,877,019)................................. 7,051,614
-----------
CORPORATE NOTES -- 32.0%
Associates Corp. of North America\
1,125,000 6.00% due 4/15/03 ................................ 1,075,939
4,000,000 5.75% due 11/1/03(2) ............................. 3,765,160
5,000,000 AT&T Corp. 6.00% due 3/15/09(2) .................... 4,454,000
3,500,000 Daimler-Chrysler National Holding 7.20% due 9/1/09(2) 3,377,325
3,000,000 Electronic Data Systems 7.45% due 10/15/29(2) ...... 2,886,330
5,000,000 Ford Motor Credit Co. 5.75% due 2/23/04 ............ 4,675,450
5,000,000 General Motors Acceptance Corp. 6.75% due 12/10/02 . 4,913,650
See Notes to Financial Statements.
--41--
<PAGE>
------------------------
THE GLENMEDE FUND, INC.
------------------------
CORE FIXED INCOME PORTFOLIO
SCHEDULE OF PORTFOLIO INVESTMENTS -- (CONTINUED)
APRIL 30, 2000 -- (UNAUDITED)
FACE
AMOUNT VALUE
-------- -------
CORPORATE NOTES -- (CONTINUED)
$ 4,000,000 Goldman Sachs Group 6.65% due 5/15/09 .............. $ 3,654,280
5,000,000 IBM Corp. 5.375% due 2/1/09(2) ..................... 4,349,500
5,700,000 Lucent Technologies 6.45% due 3/15/29 .............. 4,879,086
5,000,000 Merrill Lynch and Co. 6.00% due 2/17/09 ............ 4,404,800
4,000,000 Morgan Stanley Dean Witter 7.125% due 1/15/03 ...... 3,954,080
3,280,000 Rohm and Haas Co 7.85% due 7/15/29 ................. 3,264,879
4,000,000 Vodafone Airtouch PLC 7.625% due 2/15/05 ........... 3,986,972
3,700,000 Wal-Mart Stores 6.875% due 8/10/09 ................. 3,565,505
------------
TOTAL CORPORATE NOTES
(Cost $61,065,709)................................ 57,206,956
------------
U.S. TREASURY NOTES/BONDS -- 19.7%
U.S. Treasury Bond,
1,000,000 7.25% due 8/15/22................................. 1,118,120
5,550,000 6.125% due 11/15/27 .............................. 5,491,003
U.S. Treasury Notes,
2,000,000 4.625% due 11/30/00(2) ........................... 1,980,000
15,000,000 5.875% due 11/15/04(2,4) ......................... 14,606,250
7,000,000 6.00% due 8/15/09(4) ............................. 6,838,090
5,000,000 6.50% due 2/15/10(4) ............................. 5,099,200
------------
TOTAL U.S. TREASURY NOTES/BONDS
(Cost $35,547,783)................................ 35,132,663
------------
REPURCHASE AGREEMENTS -- 9.4%
167,000 With Goldman Sachs & Co., 4.95% 5/1/00 (dated
4/28/00 collateralized by $168,000 U.S. Treasury Notes,
6.50% due 12/1/28, market value $175,016) .......... 167,000
16,600,000 With Prudential Securities, 5.83%,5/1/00 (dated 4/28/00
collateralized by $19,890,000 Federal Home Loan
Mortgage Corporation, FHR 2140 due 12/1/28, market
value $18,053,650).................................. 16,600,000
------------
TOTAL REPURCHASE AGREEMENTS
(Cost $16,767,000)................................. 16,767,000
------------
TOTAL INVESTMENTS (Cost $203,823,844)..................... 110.6% $197,517,880
------------
See Notes to Financial Statements.
--42--
<PAGE>
------------------------
THE GLENMEDE FUND, INC.
------------------------
CORE FIXED INCOME PORTFOLIO
SCHEDULE OF PORTFOLIO INVESTMENTS -- (CONCLUDED)
APRIL 30, 2000 -- (UNAUDITED)
FACE
AMOUNT VALUE
-------- -------
REVERSE REPURCHASE AGREEMENTS --(9.9)%
$5,275,000 With Merrill Lynch and Co., 4.00% 5/1/00
(dated 4/28/00, collateralized by $5,000,000 U.S.
Treasury Notes, 6.50% due 2/15/10, market value
$5,100,500)...................................... $ (5,275,000)
5,790,000 With Merrill Lynch and Co., 5.35% 5/1/00
(dated 4/28/00, collateralized by $6,000,000 U.S.
Treasury Notes, 5.875% due 11/15/04, market value
$5,827,800)...................................... (5,790,000)
6,615,000 With Merrill Lynch and Co., 5.65% 5/1/00
(dated 4/28/00, collateralized by $7,000,000 U.S.
Treasury Notes, 6.00% due 8/15/09, market value
$6,806,100)...................................... (6,615,000)
------------
TOTAL REVERSE REPURCHASE AGREEMENTS
(Cost $17,680,000).............................. (17,680,000)
------------
LIABILITIES IN EXCESS OF OTHER ASSETS..................... (0.7) (1,291,071)
----- ------------
NET ASSETS................................................ 100.0% $178,546,809
===== ============
-----------------
(1) Represents current face amount at April 30, 2000.
(2) Securities or partial securities on loan.
(3) Face amount represents notional amount.
(4) Collateral for reverse repurchase agreements.
Abbreviations:
TBA -- To be announced.
UAC -- Union Acceptance Corp.
See Notes to Financial Statements.
--43--
<PAGE>
------------------------
THE GLENMEDE FUND, INC.
------------------------
STRATEGIC EQUITY PORTFOLIO
SCHEDULE OF PORTFOLIO INVESTMENTS
APRIL 30, 2000 -- (UNAUDITED)
SHARES VALUE
---------- ----------
COMMON STOCKS -- 98.7%
BANKING -- 1.2%
35,000 Citigroup, Inc. ...................................... $ 2,080,312
------------
COMMERCIAL SERVICES -- 2.1%
70,000 McGraw-Hill, Inc. .................................... 3,675,000
------------
CONSUMER DURABLES -- 3.5%
50,000 Ford Motor............................................ 2,734,375
80,000 Harley-Davidson, Inc. ................................ 3,185,000
------------
5,919,375
------------
CONSUMER NON-DURABLES -- 2.6%
24,700 Colgate-Palmolive Co. ................................ 1,410,987
53,500 Kimberly-Clark Corp. ................................. 3,106,344
------------
4,517,331
------------
CONSUMER PRODUCTS -- 1.5%
60,100 Black & Decker Corp. ................................. 2,527,956
------------
CONSUMER SERVICES -- 0.5%
33,300 Carnival Corp.-- Class A.............................. 828,337
------------
ELECTRICAL & ELECTRONICS -- 8.1%
33,000 American Power Conversion(1).......................... 1,165,312
28,000 FPL................................................... 1,265,250
54,400 Philips Electronics(1)................................ 2,427,600
160,000 Nokia, ADR............................................ 9,100,000
------------
13,958,162
------------
ELECTRONIC TECHNOLOGY -- 14.4%
80,000 Cisco Systems, Inc.(1)................................ 5,546,250
48,000 EMC Corp.(1).......................................... 6,669,000
28,000 Intel Corp. .......................................... 3,550,750
26,000 International Business Machines Corp. ................ 2,902,250
31,600 Lexmark International Group, Inc. Class A(1).......... 3,728,800
400 Siebel Systems, Inc.(1)............................... 49,150
60,000 Xircom, Inc.(1)....................................... 2,366,250
------------
24,812,450
------------
See Notes to Financial Statements.
--44--
<PAGE>
------------------------
THE GLENMEDE FUND, INC.
------------------------
STRATEGIC EQUITY PORTFOLIO
SCHEDULE OF PORTFOLIO INVESTMENTS -- (CONTINUED)
APRIL 30, 2000 -- (UNAUDITED)
SHARES VALUE
---------- ----------
COMMON STOCKS -- (CONTINUED)
ENERGY MINERALS -- 7.5%
40,000 Chevron Corp. ........................................ $ 3,405,000
53,748 Exxon Mobil Corp. .................................... 4,175,548
40,000 Phillips Petroleum Co. ............................... 1,897,500
45,000 Schlumberger Inc. .................................... 3,445,312
------------
12,923,360
------------
FINANCIAL SERVICES -- 10.8%
43,750 American International Group, Inc. ................... 4,798,828
79,208 Associates First Capital Corp. ....................... 1,757,427
40,000 Bank of America....................................... 1,960,000
56,000 Duke Realty Investments Inc. ......................... 1,214,500
55,000 Fleet Boston Financial Corp. ......................... 1,949,062
60,000 Freddie Mac........................................... 2,756,250
14,300 Hartford Life, Inc. Class-- A......................... 704,275
29,200 PaineWebber Group, Inc. .............................. 1,281,150
53,000 Wells Fargo & Company................................. 2,176,313
------------
18,597,805
------------
HEALTH CARE -- 3.1%
9,300 Medimmune Inc.(1)..................................... 1,487,419
90,000 Pfizer, Inc. ......................................... 3,791,250
------------
5,278,669
------------
HEALTH CARE FACILITY & SUPPLIES -- 1.3%
42,600 Medtronic, Inc. ...................................... 2,212,538
------------
HEALTH TECHNOLOGY -- 4.8%
40,000 Johnson & Johnson..................................... 3,300,000
31,500 Merck & Co, Inc. ..................................... 2,189,250
24,000 Warner Lambert Co. ................................... 2,731,500
------------
8,220,750
------------
OIL & GAS DRILLING -- 0.8%
28,712 Transocean Sedco Forex Inc. .......................... 1,349,464
------------
PROCESS INDUSTRIES -- 3.2%
35,000 General Electric Co. ................................. 5,503,750
------------
See Notes to Financial Statements.
--45--
<PAGE>
------------------------
THE GLENMEDE FUND, INC.
------------------------
STRATEGIC EQUITY PORTFOLIO
SCHEDULE OF PORTFOLIO INVESTMENTS -- (CONTINUED)
APRIL 30, 2000 -- (UNAUDITED)
SHARES VALUE
---------- ----------
COMMON STOCKS -- (CONTINUED)
PRODUCER MANUFACTURING -- 4.6%
40,000 Johnson Controls, Inc. ............................... $ 2,532,500
82,900 Leggett & Platt, Inc. ................................ 1,771,988
80,000 Tyco International Ltd. .............................. 3,675,000
------------
7,979,488
------------
REGIONAL BELL OPERATING COMPANIES -- 1.0%
29,000 Bell Atlantic Corp. .................................. 1,718,250
------------
RETAIL TRADE -- 1.8%
46,600 Target Corp........................................... 3,101,813
------------
TECHNOLOGY -- 13.0%
80,000 Applied Materials, Inc.(1)............................ 8,145,000
77,890 Computer Associates International, Inc. .............. 4,347,236
35,000 Microsoft Corporation(1).............................. 2,441,250
42,000 Sun Microsystems, Inc.(1)............................. 3,861,375
15,000 Symantec Corp.(1)..................................... 936,563
16,500 Texas Instruments, Inc. .............................. 2,687,438
------------
22,418,862
------------
TECHNOLOGY SYSTEMS/SEMI CONDUCTORS -- 2.5%
40,000 Qualcomm, Inc.(1)..................................... 4,337,500
------------
TRANSPORTATION -- SHIPPING -- 1.1%
29,400 United Parcel Service................................. 1,955,100
------------
UTILITIES -- 9.3%
80,000 BellSouth Corp. ...................................... 3,895,000
30,000 Columbia Energy Group................................. 1,882,500
28,500 Duke Power Co. ....................................... 1,638,750
66,300 MCI Worldcom, Inc.(1)................................. 3,012,506
50,900 Sprint Corp. (FON Group).............................. 3,130,350
45,000 Sprint Corp. (PCS Group)(1,2)......................... 2,475,000
------------
16,034,106
------------
TOTAL COMMON STOCKS
(Cost $101,591,756)................................. 169,950,378
See Notes to Financial Statements.
--46--
<PAGE>
------------------------
THE GLENMEDE FUND, INC.
------------------------
STRATEGIC EQUITY PORTFOLIO
SCHEDULE OF PORTFOLIO INVESTMENTS -- (CONCLUDED)
APRIL 30, 2000 -- (UNAUDITED)
SHARES VALUE
---------- ----------
CALL OPTIONS -- (0.3)%
110 Applied Materials July 00 @ $120.................... $ (134,750)
110 EMC Corp. May 00 @ $140............................. (77,000)
70 Nokia Corp. July 00 @ $57.50........................ (182,000)
200 Qualcomm Inc. July 00 @ $170........................ (60,000)
------------
TOTAL CALL OPTIONS
(Cost $(995,136))................................. (453,750)
------------
PUT OPTIONS -- 0.0%
160 Motorola June 00 @ $100
(Cost $(89,767)).................................. (33,000)
------------
FACE
AMOUNT
----------------
REPURCHASE AGREEMENT -- 3.0%
$5,109,000 With Goldman Sachs & Co., 5.58% due 5/1/00 (dated 4/28/00,
collateralized by $4,470,000 U.S. Treasury Bonds, 6.85% due
11/15/02, market value $5,219,600),
(Cost $5,109,000)................................. $ 5,109,000
------------
TOTAL INVESTMENTS (Cost $105,615,852)..................... 101.4% $174,572,628
LIABILITIES IN EXCESS OF OTHER ASSETS..................... (1.4) (2,345,676)
----- ------------
NET ASSETS................................................ 100.0% $172,226,952
===== ============
-----------------
(1) Non-income producing security.
(2) Securities or partial securities on loan.
Abbreviation:
ADR -- American Depository Receipts
See Notes to Financial Statements.
--47--
<PAGE>
------------------------
THE GLENMEDE FUND, INC.
------------------------
SMALL CAPITALIZATION VALUE PORTFOLIO
SCHEDULE OF PORTFOLIO INVESTMENTS
APRIL 30, 2000 -- (UNAUDITED)
SHARES VALUE
---------- ----------
COMMON STOCKS -- 99.8%
BASIC INDUSTRY -- 9.7%
153,200 Aptargroup, Inc. ..................................... $ 4,366,200
61,900 Borg-Warner Automotive, Inc. ......................... 2,588,194
192,200 Cable Design Technologies(1) ......................... 6,582,850
38,400 Commercial Metals Co. ................................ 1,128,000
109,000 Granite Construction, Inc. ........................... 2,588,750
135,600 Hercules, Inc. ....................................... 2,110,275
235,400 Packaging Corp. of America(1) ........................ 2,795,375
111,900 Pittston Services Group .............................. 1,832,362
44,200 Texas Industries, Inc. ............................... 1,442,025
124,900 Tower Automotive, Inc.(1) ............................ 1,951,562
-----------
27,385,593
-----------
CONSUMER SERVICES -- 18.7%
67,700 BJ's Wholesale Club, Inc.(1) ......................... 2,399,119
117,050 Canandaigua Wine Company, Inc. Class A(1) ............ 5,896,394
188,400 Children's Place(1,2) ................................ 4,191,900
220,800 Copart, Inc.(1) ...................................... 3,808,800
88,350 Harman International Industries, Inc. ................ 5,775,881
120,700 Haverty Furniture Company, Inc. ...................... 1,357,875
259,100 Jack In The Box(1) ................................... 6,347,950
120,700 La-Z-Boy Chair Co. ................................... 1,893,481
57,550 Midwest Express Holdings, Inc.(1) .................... 1,456,734
74,600 Movado Group, Inc. ................................... 643,425
91,400 NCO Group, Inc. (1) ................................. 3,141,875
206,800 Ralcorp Holdings, Inc.(1) ............................ 2,856,425
166,700 Ruby Tuesday, Inc. ................................... 3,490,281
147,200 Shopko Stores, Inc. .................................. 2,631,200
76,700 Suiza Foods Corp.(1,2) ............................... 2,986,506
53,000 Toro Co. ............................................. 1,629,750
82,500 Universal Corp. ...................................... 1,557,187
154,929 Zany Brainy, Inc.(1,2) ............................... 610,033
-----------
52,674,816
-----------
See Notes to Financial Statements.
--48--
<PAGE>
------------------------
THE GLENMEDE FUND, INC.
------------------------
SMALL CAPITALIZATION VALUE PORTFOLIO
SCHEDULE OF PORTFOLIO INVESTMENTS -- (CONTINUED)
APRIL 30, 2000 -- (UNAUDITED)
SHARES VALUE
---------- ----------
COMMON STOCKS -- (CONTINUED)
ENERGY -- 12.3%
105,100 Energen Corp. ........................................ $ 1,924,644
167,100 Helmerich and Payne, Inc. ............................ 5,232,319
353,800 Ocean Energy, Inc.(1) ................................ 4,577,287
231,800 Oceaneering International, Inc.(1) ................... 3,998,550
340,800 Swift Energy Co.(1) .................................. 6,965,100
132,500 Tesoro Petroleum Corp.(1) ............................ 1,556,875
129,600 Valero Energy New .................................... 3,758,400
56,919 Vectren Corp. ........................................ 1,145,495
275,300 Vintage Petroleum, Inc. .............................. 5,471,587
-----------
34,630,257
-----------
FINANCIAL SERVICES -- 12.6%
159,700 Bancwest Corp. ....................................... 2,924,506
103,100 Cullen/Frost Bankers, Inc. ........................... 2,545,281
109,500 Enhance Financial Services Group, Inc. ............... 1,108,687
61,400 Greater Bay Bancorp .................................. 2,610,459
61,900 Hamilton Bancorp, Inc.(1) ............................ 1,137,412
88,400 Harleysville Group, Inc. ............................. 1,419,925
133,253 Hudson United Bancorp ................................ 3,006,521
66,600 Imperial Bancorp(1) .................................. 1,307,025
100,440 Metris Companies, Inc. ............................... 3,766,500
91,400 Presidential Life Corp. .............................. 1,455,259
47,200 Profit Recovery Group International, Inc. (1,2) ...... 828,950
61,900 Protective Life Corp. ................................ 1,473,994
75,394 Radian Group, Inc. ................................... 3,840,382
147,905 Republic Bancorp, Inc. ............................... 1,460,562
86,300 Sterling Bancshares, Inc. ............................ 949,300
135,400 The MONY Group, Inc. ................................. 4,188,937
67,700 Triad Guaranty, Inc.(1) .............................. 1,421,700
-----------
35,445,400
-----------
HEALTHCARE -- 7.5%
123,700 Conmed Corp.(1) ...................................... 3,231,662
76,700 Datascope Corp. ...................................... 2,540,688
95,750 King Pharmaceuticals(1,2) ............................ 4,727,656
See Notes to Financial Statements.
--49--
<PAGE>
------------------------
THE GLENMEDE FUND, INC.
------------------------
SMALL CAPITALIZATION VALUE PORTFOLIO
SCHEDULE OF PORTFOLIO INVESTMENTS -- (CONTINUED)
APRIL 30, 2000 -- (UNAUDITED)
SHARES VALUE
---------- ----------
COMMON STOCKS -- (CONTINUED)
HEALTHCARE -- (CONTINUED)
188,400 Orthodontic Centers of America, Inc.(1) .............. $ 3,991,725
103,100 Provantage Health Services(1) ........................ 818,356
149,900 Wesley Jessen VisionCare, Inc.(1) .................... 5,902,313
-----------
21,212,400
-----------
REAL ESTATE -- 6.6%
79,600 Amli Residential Properties .......................... 1,810,900
53,000 Arden Realty Group ................................... 1,179,250
106,000 Bedford Property Investors, Inc. ..................... 1,868,250
61,900 Brandywine Realty Trust .............................. 1,075,513
70,700 CBL & Associates Properties .......................... 1,657,031
217,900 Glimcher Realty Trust................................. 2,996,125
53,000 Kilroy Realty Corp. .................................. 1,278,625
61,800 Liberty Property Trust ............................... 1,529,550
65,300 Pacific Gulf Properties, Inc. ........................ 1,403,950
82,500 Regency Realty Corp. ................................. 1,825,313
105,040 Starwood Financial Inc. (1) .......................... 1,844,765
-----------
18,469,272
-----------
TECHNOLOGY -- 26.6%
77,600 Dallas Semiconductor Corp. ........................... 3,331,950
93,900 Electronics For Imaging(1) ........................... 4,906,275
94,200 F.Y. I., Inc.(1) ..................................... 2,525,738
65,000 Burr-Brown Corp.(1) .................................. 4,428,125
83,100 Cypress Semiconductor Corp.(1) ....................... 4,316,006
82,000 Kent Electronics Corp.(1) ............................ 2,393,375
54,500 Lam Research Corp.(1) ................................ 2,500,188
159,200 Henry (Jack) &Associates, Inc......................... 6,288,400
656,300 Lanier Worldwide Inc. (1) ............................ 1,271,581
80,500 Lattice Semiconductor Corp.(1) ....................... 5,423,688
159,800 Methode Electronics, Inc.-- Class A .................. 6,659,166
44,200 Moog, Inc. Class A(1) ................................ 1,041,463
55,500 Pinnacle Systems, Inc.(1) ............................ 1,332,000
53,500 Plexus Corp.(1) ...................................... 4,099,438
200,200 Progress Software Corp.(1) ........................... 4,004,000
See Notes to Financial Statements.
--50--
<PAGE>
------------------------
THE GLENMEDE FUND, INC.
------------------------
SMALL CAPITALIZATION VALUE PORTFOLIO
SCHEDULE OF PORTFOLIO INVESTMENTS -- (CONCLUDED)
APRIL 30, 2000 -- (UNAUDITED)
SHARES VALUE
---------- ----------
COMMON STOCKS -- (CONTINUED)
TECHNOLOGY -- (CONTINUED)
85,500 Remedy Corp.(1) ...................................... $ 4,542,188
223,700 Reynolds & Reynolds .................................. 5,312,875
83,300 Symantec Corp.(1) .................................... 5,201,044
137,600 Xircom, Inc.(1) ...................................... 5,426,600
------------
75,004,100
------------
TELEPHONE -- 0.6%
62,100 Andrew Corp.(1) ...................................... 1,828,069
------------
THRIFT HOLDING COMPANY -- 2.0%
145,600 Electroglas, Inc.(1) ................................. 5,642,000
------------
UTILITIES -- 3.2%
49,200 Alliant Energy Corp. ................................. 1,476,000
76,700 Equitable Resources, Inc. ............................ 3,556,963
66,000 MDU Resources Group, Inc. ............................ 1,439,625
91,400 NUI Corp. ............................................ 2,444,949
------------
8,917,537
------------
TOTAL COMMON STOCKS
(Cost $238,341,813)................................. 281,209,444
------------
FACE
AMOUNT
----------
REPURCHASE AGREEMENT -- 0.2%
444,000 With Goldman Sachs & Company, 5.58% 5/1/00 (dated
4/28/00, collateralized by $430,000 U.S. Treasury
Bonds, 7.875% due 11/15/07, market value $456,100)
(Cost $444,000)..................................... 444,000
------------
TOTAL INVESTMENTS (Cost $238,785,813).................... 100.0% $281,653,444
OTHER ASSETS IN EXCESS OF LIABILITIES.................... 0.0 4,233
----- ------------
NET ASSETS............................................... 100.0% $281,657,677
===== ============
----------------
(1) Non-income producing security.
(2) Securities or partial securities on loan.
See Notes to Financial Statements.
--51--
<PAGE>
------------------------
THE GLENMEDE FUND, INC.
------------------------
LARGE CAP VALUE PORTFOLIO
SCHEDULE OF PORTFOLIO INVESTMENTS
APRIL 30, 2000 -- (UNAUDITED)
SHARES VALUE
---------- ----------
COMMON STOCKS -- 98.0%
BASIC INDUSTRY -- 2.8%
1,900 Dow Chemical Co....................................... $ 214,700
5,900 Rohm & Haas Co. ...................................... 210,187
4,100 Weyerhaeuser Co. ..................................... 219,094
----------
643,981
----------
CAPITAL GOODS -- 7.4%
4,600 Cooper Industries, Inc. .............................. 157,837
4,300 TRW, Inc. ............................................ 251,550
16,300 Tyco International Ltd. .............................. 748,781
8,600 United Technologies Corp. ............................ 534,812
----------
1,692,980
----------
COMMERCIAL SERVICES -- 2.1%
11,800 Cendant Corp.(1) ..................................... 182,162
5,500 McGraw-Hill, Inc. .................................... 288,750
----------
470,912
----------
COMPUTERS -- 3.1%
5,600 Apple Computer, Inc.(1) .............................. 694,750
----------
CONSUMER NON-DURABLES -- 5.6%
8,600 Anheuser-Busch Companies, Inc. ....................... 606,837
8,800 Kimberly Clark Corp. ................................. 510,950
2,600 Procter & Gamble Co. ................................. 155,025
----------
1,272,812
----------
CONSUMER SERVICES -- 1.1%
5,800 The Walt Disney Co. .................................. 251,212
----------
ELECTRONICS -- 1.0%
4,400 SCI Systems, Inc.(1) ................................. 234,300
----------
ENERGY -- 10.5%
7,050 Coastal Corp. ........................................ 353,822
9,937 Exxon Mobil Corp. .................................... 771,981
8,300 Kerr-McGee Corp. ..................................... 429,525
10,800 Schlumberger, Inc. ................................... 826,875
----------
2,382,203
----------
See Notes to Financial Statements.
--52--
<PAGE>
------------------------
THE GLENMEDE FUND, INC.
------------------------
LARGE CAP VALUE PORTFOLIO
SCHEDULE OF PORTFOLIO INVESTMENTS -- (CONTINUED)
APRIL 30, 2000 -- (UNAUDITED)
SHARES VALUE
---------- ----------
COMMON STOCKS -- (CONTINUED)
FINANCE -- 19.8%
7,800 American General Corp. ............................... $ 436,800
5,300 American International Group ......................... 581,344
7,500 Bank Of America ...................................... 367,500
5,300 Chase Manhattan Corp. ................................ 381,931
15,800 Citigroup, Inc. ...................................... 939,113
12,100 Equity Residential Properties Trust(2) ............... 550,550
11,000 Fleet Boston Financial Corp. ......................... 389,813
5,300 Household International, Inc. ........................ 221,275
6,118 Lincoln National Corp. ............................... 212,983
5,400 Morgan Stanley Dean Witter ........................... 414,450
-----------
4,495,759
-----------
FINANCIAL SERVICES -- 1.2%
3,000 Providian Financial Corp. ............................ 264,188
-----------
HEALTH CARE SERVICES -- 1.0%
8,300 Columbia/HCA Healthcare Corp. ........................ 236,031
-----------
HEALTH TECHNOLOGY -- 7.4%
8,900 American Home Products Corp. ......................... 500,069
3,600 Bristol-Myers Squibb Co. ............................. 188,775
5,200 Johnson & Johnson .................................... 429,000
4,900 Warner Lambert Co. ................................... 557,681
-----------
1,675,525
-----------
MANUFACTURING - DIVERSIFIED INDUSTRIES -- 2.2%
5,600 Dover Corp. .......................................... 284,550
2,600 Minnesota Mining & Manufacturing Co. ................. 224,900
-----------
509,450
-----------
METALS -- 0.8%
2,700 Alcoa, Inc.(2) ....................................... 175,163
-----------
RETAIL TRADE -- 2.9%
4,800 Lowe's Companies, Inc. ............................... 237,600
6,500 Target Corp .......................................... 432,656
-----------
670,256
-----------
See Notes to Financial Statements.
--53--
<PAGE>
------------------------
THE GLENMEDE FUND, INC.
------------------------
LARGE CAP VALUE PORTFOLIO
SCHEDULE OF PORTFOLIO INVESTMENTS -- (CONCLUDED)
APRIL 30, 2000 -- (UNAUDITED)
SHARES VALUE
---------- ----------
COMMON STOCKS -- (CONTINUED)
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT -- 1.2%
2,400 Teradyne, Inc.(1) .................................... $ 264,000
-----------
TECHNOLOGY -- 8.2%
6,500 Computer Associates International, Inc. .............. 362,781
15,900 First Data Corp. ..................................... 774,131
2,400 Hewlett-Packard Co. .................................. 324,000
2,100 International Business Machines Corp. ................ 234,413
2,800 Symantec Corp.(1) .................................... 174,825
-----------
1,870,150
-----------
TELECOMMUNICATION EQUIPMENT -- 2.0%
3,900 Motorola, Inc. ....................................... 464,344
-----------
UTILITIES -- 17.7%
13,175 Alltel Corp. ......................................... 877,784
7,000 American Power Conversion Corp.(1,2) ................. 247,188
8,600 AT&T Corp.(2) ........................................ 401,513
8,800 Bell Atlantic Corp.(2)................................ 521,400
11,000 Columbia Energy Group ................................ 690,250
1,600 GTE Corp. ............................................ 108,400
13,700 Sprint Corp. ......................................... 842,551
4,700 U.S. West Incorporated ............................... 334,581
-----------
4,023,667
-----------
TOTAL COMMON STOCKS
(Cost $22,015,714).................................. 22,291,683
-----------
TOTAL INVESTMENTS (Cost $22,015,714)...................... 98.0% $22,291,683
OTHER ASSETS IN EXCESS OF LIABILITIES..................... 2.0 454,930
------ -----------
NET ASSETS................................................ 100.0% $22,746,613
====== ===========
---------------
(1) Non-income producing security.
(2) Securities or partial securities on loan.
See Notes to Financial Statements.
--54--
<PAGE>
------------------------
THE GLENMEDE FUND, INC.
------------------------
INTERNATIONAL PORTFOLIO
SCHEDULE OF PORTFOLIO INVESTMENTS
APRIL 30, 2000 -- (UNAUDITED)
SHARES VALUE
---------- ----------
COMMON STOCKS -- 96.1%
JAPAN -- 22.1%
673,000 Canon, Inc. ........................................ $ 30,763,131
1,690,000 Chugai Pharmaceutical Co.(2) ....................... 32,526,592
1,065,000 Dai Nippon Printing Co., Ltd. ...................... 18,063,445
2,580 East Japan Railway Co. ............................. 15,278,763
354,000 Eisai Co., Ltd. .................................... 10,318,162
393,000 Familymart Co., Ltd. ............................... 14,400,456
2,000,000 Fuji Heavy Industries Ltd.(2) ...................... 15,267,659
410,000 Fuji Photo Film Co., Ltd. .......................... 16,427,076
980,000 Jusco Co. .......................................... 18,136,129
684,000 Kao Corp. .......................................... 20,822,867
6,152,000 Kubota Corp. ....................................... 20,037,683
150,800 Nintendo Corp., Ltd. ............................... 25,116,688
1,958 Nippon Telegraph & Telephone Corp. ................. 24,277,614
60,000 Rohm Co. ........................................... 20,097,792
1,185,000 Shiseido Co., Ltd.(2) .............................. 14,978,129
80,000 Sony Corp. (2)...................................... 9,186,504
80,000 Sony Corp. New (2).................................. 9,253,127
413,000 Toyota Motor Corp. ................................. 20,521,677
899,000 Wacoal Corp. ....................................... 7,586,528
-------------
343,060,022
-------------
UNITED KINGDOM -- 16.8%
3,035,000 Allied Domecq. ..................................... 14,912,388
1,190,914 Associated British Foods PLC ....................... 7,118,731
504,242 Bass PLC ........................................... 5,929,620
864,300 BOC Group PLC ...................................... 14,295,467
3,655,900 British Aerospace PLC .............................. 22,782,896
1,202,000 British Telecommunications PLC ..................... 21,573,804
3,070,000 Cadbury Schweppes PLC .............................. 20,969,181
5,500,000 Corus Group PLC .................................... 7,444,536
2,000,000 Gallaher Group PLC ................................. 9,944,304
4,065,926 Invensys PLC ....................................... 19,675,601
1,710,000 Johnson Matthey PLC ................................ 22,690,852
1,310,000 Rio Tinto PLC ORD .................................. 20,447,633
See Notes to Financial Statements.
--55--
<PAGE>
------------------------
THE GLENMEDE FUND, INC.
------------------------
INTERNATIONAL PORTFOLIO
SCHEDULE OF PORTFOLIO INVESTMENTS -- (CONTINUED)
APRIL 30, 2000 -- (UNAUDITED)
SHARES VALUE
---------- ----------
COMMON STOCKS -- (CONTINUED)
UNITED KINGDOM -- (CONTINUED)
2,000,000 Royal & Sun Alliance Insurance Group PLC ........... $ 11,290,032
2,413,200 Scottish Power PLC ................................. 19,494,505
1,260,000 SmithKline Beecham PLC ............................. 17,340,644
4,435,900 Tomkins PLC ........................................ 13,639,647
1,639,237 Trinity Mirror PLC ................................. 12,786,914
------------
262,336,755
------------
FRANCE -- 11.4%
98,300 Alcatel ............................................ 22,841,873
80,030 Compagnie de Saint-Gobain(2) ....................... 10,946,405
84,200 Groupe Danone(2) ................................... 18,452,924
224,745 Lafarge SA(2) ...................................... 18,657,199
276,000 Lagardere Groupe SCA(2) ............................ 18,737,143
251,255 Pernod-Ricard ...................................... 11,390,579
240,000 Schneider SA ....................................... 15,746,417
310,000 SCOR SA ............................................ 13,525,516
258,476 Total Fina SA ...................................... 39,311,044
162,000 Valeo SA ........................................... 9,004,982
------------
178,614,082
------------
GERMANY -- 8.5%
403,600 Aventis SA(2) ...................................... 21,956,520
360,000 Bayer AG(2) ........................................ 14,647,449
786,500 Continental AG ..................................... 14,441,483
194,000 Daimler-Chrysler AG(2) ............................. 11,384,805
130,800 Schering AG(2) ..................................... 18,534,299
219,000 Siemens AG ......................................... 31,930,235
47,290 Siemens AG -- ADR .................................. 6,994,021
275,200 Veba AG(2) ......................................... 13,416,531
------------
133,305,343
------------
NETHERLANDS -- 7.5%
830,000 ABN-Amro Holdings N.V. ............................. 17,131,063
468,900 Akzo Nobel(2) ...................................... 19,240,670
730,900 Hagemeyer N.V.(2)................................... 14,419,622
See Notes to Financial Statements.
--56--
<PAGE>
------------------------
THE GLENMEDE FUND, INC.
------------------------
INTERNATIONAL PORTFOLIO
SCHEDULE OF PORTFOLIO INVESTMENTS -- (CONTINUED)
APRIL 30, 2000 -- (UNAUDITED)
SHARES VALUE
---------- ----------
COMMON STOCKS -- (CONTINUED)
NETHERLANDS -- (CONTINUED)
708,000 Koninklijke Ahold N.V.(2) .......................... $ 16,548,500
481,100 Royal Dutch Petroleum Co. (2)....................... 27,794,741
171,323 Royal PTT Nederland N.V.-- Sponsored ADR ........... 17,474,946
171,323 TNT Post Group N.V.- Sponsored ADR ................. 3,747,691
------------
116,357,233
------------
SPAIN -- 6.2%
400,000 Banco Popular de Espanol(2) ........................ 10,825,662
1,953,000 Dragados Construcciones SA (2)...................... 14,949,255
962,976 Endesa SA .......................................... 20,937,456
1,155,000 Repsol SA Sponsored ADR ............................ 23,821,875
391,266 Telefonica de Espana Sponsored ADR(1) .............. 25,921,373
------------
96,455,621
------------
AUSTRALIA -- 4.7%
3,113,900 Australia Gas Light Co. ............................ 16,171,227
1,200,000 Commonwealth Bank of Australia(2) .................. 18,261,529
6,600,000 Foster's Brewing Group(2) .......................... 16,660,144
3,570,789 Westpac Banking Corp. Ltd.(2) ...................... 22,773,651
------------
73,866,551
------------
SWEDEN -- 3.9%
440,091 AstraZeneca Plc .................................... 18,409,407
1,235,000 Electrolux AB-- Series B(2) ........................ 20,898,979
450,000 SKF AB-- B Shares(2) ............................... 9,650,709
480,000 Volvo AB-- B Shares(2) ............................. 11,661,274
------------
60,620,369
------------
FINLAND -- 2.8%
757,180 Nokia Corp. Sponsored ADR .......................... 43,064,612
------------
DENMARK -- 2.2%
219,000 Tele Danmark AS(2) ................................. 16,061,141
235,000 Uni-Danmark ........................................ 18,814,392
------------
34,875,533
------------
See Notes to Financial Statements.
--57--
<PAGE>
------------------------
THE GLENMEDE FUND, INC.
------------------------
INTERNATIONAL PORTFOLIO
SCHEDULE OF PORTFOLIO INVESTMENTS -- (CONTINUED)
APRIL 30, 2000 -- (UNAUDITED)
SHARES VALUE
---------- ----------
COMMON STOCKS -- (CONTINUED)
SWITZERLAND -- 1.9%
7,200 Nestle AG Reg. ..................................... $ 12,722,068
49,000 Swisscom AG ........................................ 17,316,148
--------------
30,038,216
--------------
ITALY -- 1.6%
7,420,742 Bennetton Group S.P.A.(2) .......................... 13,693,371
229,000 ENI SPA Sponsored ADR .............................. 11,908,000
--------------
25,601,371
--------------
BELGIUM -- 1.6%
59,000 Electrabel SA(2) ................................... 14,295,797
430,000 Fortis-- B ......................................... 10,881,339
--------------
25,177,136
--------------
NORWAY -- 1.0%
3,234,000 Christiania Bank OG Kreditkasse ASA(2) ............. 14,964,916
--------------
CANADA -- 0.9%
60,000 Magna Entertainment ................................ 247,500
300,000 Magna International, Inc.-- Class A ................ 14,025,000
--------------
14,272,500
--------------
IRELAND -- 0.9%
1,400,000 Allied Irish Banks ................................. 14,001,372
--------------
AUSTRIA -- 0.8%
269,200 Bank Austria ....................................... 11,971,068
--------------
SINGAPORE -- 0.7%
1,080,000 Singapore Air Ltd. Foreign ......................... 11,195,715
--------------
NEW ZEALAND -- 0.6%
2,320,000 Telecom Corp. New Zealand(2) ....................... 9,813,542
--------------
TOTAL COMMON STOCKS
(Cost $1,231,827,762)............................. 1,499,591,957
--------------
See Notes to Financial Statements.
--58--
<PAGE>
------------------------
THE GLENMEDE FUND, INC.
------------------------
INTERNATIONAL PORTFOLIO
SCHEDULE OF PORTFOLIO INVESTMENTS -- (CONCLUDED)
APRIL 30, 2000 -- (UNAUDITED)
FACE
AMOUNT VALUE
---------- ---------
REPURCHASE AGREEMENT -- 2.1%
$32,337,000 With Goldman Sachs & Co., 5.58% 5/1/00 (dated 4/28/00,
collateralized by $33,685,000 U.S. Treasury Bonds,
6.45% due 2/15/26, market value $33,016,790),
(Cost $32,337,000).............................. $ 32,337,000
--------------
TOTAL INVESTMENTS (Cost $1,264,164,762)................. 98.2% $1,531,928,957
OTHER ASSETS IN EXCESS OF LIABILITIES................... 1.8 28,630,851
----- --------------
NET ASSETS.............................................. 100.0% $1,560,559,808
===== ==============
--------------
(1) Non-income producing security.
(2) Securities or partial securities on loan.
Abbreviation:
ADR -- American Depository Receipts
See Notes to Financial Statements.
--59--
<PAGE>
------------------------
THE GLENMEDE FUND, INC.
------------------------
INTERNATIONAL PORTFOLIO
SECTOR DIVERSIFICATION
ON APRIL 30, 2000, SECTOR DIVERSIFICATION OF THE PORTFOLIO WAS AS FOLLOWS
(UNAUDITED):
% OF NET
ASSETS VALUE
--------- --------------
INDUSTRIES:
Electronics............................... 15.0% $ 234,330,215
Foods and Beverages....................... 8.0 124,704,135
Oil Related............................... 7.4 116,252,191
Telecommunications........................ 7.4 114,963,621
Pharmaceuticals........................... 6.2 97,129,103
Chemicals................................. 5.5 86,567,182
Financial Services........................ 5.4 84,012,498
Automotive................................ 5.2 81,865,398
Manufacturing............................. 3.7 57,669,826
Banking................................... 3.6 55,612,493
Engineering and Construction.............. 2.9 44,552,859
Machinery................................. 2.3 35,784,101
Industrials............................... 2.2 34,087,280
Publishing................................ 2.0 30,850,359
Consumer Products......................... 1.9 29,397,751
Transportation............................ 1.7 26,474,478
Insurance................................. 1.6 24,815,548
Housing and Home Furnishings.............. 1.5 22,841,873
Aerospace................................. 1.5 22,782,896
Apparel................................... 1.4 21,279,899
Commercial Services....................... 1.4 21,222,637
Consumer Durables/Non-Durables............ 1.3 20,822,867
Utilities................................. 1.2 19,494,505
Miscellaneous Industries.................. 1.2 18,737,143
Retail.................................... 1.2 18,136,129
Natural Gas............................... 1.0 16,171,227
Tire and Rubber Goods..................... 0.9 14,441,483
Convenience Stores........................ 0.9 14,400,456
Tobacco................................... 0.6 9,944,304
Hotels, Restaurants & Leisure............. 0.0 247,500
----- --------------
TOTAL FOREIGN SECURITIES.................. 96.1% $1,499,591,957
REPURCHASE AGREEMENT...................... 2.1 32,337,000
----- --------------
TOTAL INVESTMENTS......................... 98.2% $1,531,928,957
===== ==============
See Notes to Financial Statements.
--60--
<PAGE>
------------------------
THE GLENMEDE FUND, INC.
------------------------
INSTITUTIONAL INTERNATIONAL PORTFOLIO
SCHEDULE OF PORTFOLIO INVESTMENTS
APRIL 30, 2000 -- (UNAUDITED)
SHARES VALUE
------------ -----------
COMMON STOCKS -- 95.9%
JAPAN -- 22.7%
104,000 Canon, Inc. ........................................ $ 4,753,886
261,000 Chugai Pharmaceutical Co.(2) ....................... 5,023,338
164,000 Dai Nippon Printing Co., Ltd.(2) ................... 2,781,601
380 East Japan Railway Co. ............................. 2,250,360
55,000 Eisai Co., Ltd. .................................... 1,603,104
60,700 Familymart Co., Ltd. ............................... 2,224,193
308,000 Fuji Heavy Industries Ltd.(2) ...................... 2,351,220
63,000 Fuji Photo Film Ltd. ............................... 2,524,160
151,000 Jusco Co. .......................................... 2,794,444
105,000 Kao Corp. .......................................... 3,196,493
948,000 Kubota Corp. ....................................... 3,087,731
23,200 Nintendo Corp., Ltd. ............................... 3,864,106
310 Nippon Telegraph & Telephone Corp. ................. 3,843,749
9,100 Rohm Co. ........................................... 3,048,165
183,000 Shiseido Co. Ltd. .................................. 2,313,078
12,400 Sony Corp New ...................................... 1,434,235
13,400 Sony Corp. (2)...................................... 1,538,739
64,000 Toyota Motor Corp. ................................. 3,180,115
173,000 Wacoal Corp. ....................................... 1,459,921
-----------
53,272,638
-----------
UNITED KINGDOM -- 17.6%
467,700 Allied Domecq ...................................... 2,298,031
116,600 Allied Zurich PLC .................................. 1,165,892
183,505 Associated British Foods PLC ....................... 1,096,908
77,651 Bass PLC ........................................... 913,135
133,200 BOC Group PLC ...................................... 2,203,119
563,300 British Aerospace PLC .............................. 3,510,382
185,200 British Telecommunications PLC ..................... 3,324,017
473,100 Cadbury Schweppes PLC .............................. 3,231,440
847,500 Corus Group PLC .................................... 1,147,135
308,200 Gallaher Group PLC ................................. 1,532,417
626,523 Invensys PLC ....................................... 3,031,835
263,500 Johnson Matthey PLC ................................ 3,496,514
See Notes to Financial Statements.
--61--
<PAGE>
------------------------
THE GLENMEDE FUND, INC.
------------------------
INSTITUTIONAL INTERNATIONAL PORTFOLIO
SCHEDULE OF PORTFOLIO INVESTMENTS -- (CONTINUED)
APRIL 30, 2000 -- (UNAUDITED)
SHARES VALUE
------------ -----------
COMMON STOCKS -- (CONTINUED)
UNITED KINGDOM -- (CONTINUED)
203,000 Rio Tinto PLC ORD .................................. $ 3,168,603
308,200 Royal & Sun Alliance Insurance Group PLC ........... 1,739,794
371,862 Scottish Power PLC ................................. 3,004,005
194,200 SmithKline Beecham PLC ............................. 2,672,661
683,500 Tomkins PLC ........................................ 2,101,648
252,580 Trinity Mirror PLC ................................. 1,970,257
-----------
41,607,793
-----------
FRANCE -- 11.0%
15,100 Alcatel(2) ......................................... 3,508,772
12,325 Compagnie de Saint-Gobain .......................... 1,685,798
13,000 Groupe Danone(2) ................................... 2,849,026
29,544 Lafarge SA-- ADR(2)................................. 2,452,594
38,000 Lagardere Groupe SCA ............................... 2,579,752
3,070 Pernod-Ricard ...................................... 139,178
14,000 Rhone-Poulenc-- A .................................. 771,830
38,000 Schneider SA ....................................... 2,493,183
47,800 SCOR SA ............................................ 2,085,547
39,779 Total Fina SA ...................................... 6,049,900
25,000 Valeo SA ........................................... 1,389,658
-----------
26,005,238
-----------
GERMANY -- 7.8%
45,836 Aventis SA ......................................... 2,493,556
53,000 Bayer AG(2) ........................................ 2,156,430
102,300 Continental AG ..................................... 1,878,403
25,600 Daimlerchrysler AG(2) .............................. 1,502,325
21,100 Schering AG(2) ..................................... 2,989,860
36,600 Siemens AG ......................................... 5,336,286
42,400 Veba AG(2) ......................................... 2,067,082
-----------
18,423,942
-----------
NETHERLANDS -- 7.5%
127,900 ABN-Amro Hldgs N.V. ................................ 2,639,835
72,300 Akzo Nobel(2) ...................................... 2,966,732
112,600 Hagemeyer N.V.(2) .................................. 2,221,439
See Notes to Financial Statements.
--62--
<PAGE>
------------------------
THE GLENMEDE FUND, INC.
------------------------
INSTITUTIONAL INTERNATIONAL PORTFOLIO
SCHEDULE OF PORTFOLIO INVESTMENTS -- (CONTINUED)
APRIL 30, 2000 -- (UNAUDITED)
SHARES VALUE
------------ -----------
COMMON STOCKS -- (CONTINUED)
NETHERLANDS -- (CONTINUED)
109,100 Koninklijke Ahold N.V.(2) ......................... $ 2,550,058
22,700 Koninklijke KPN(2) ................................ 2,292,976
74,100 Royal Dutch Petroleum Co. ......................... 4,281,002
37,000 TNT Post Group N.V.(2) ............................ 809,191
-----------
17,761,233
-----------
SPAIN -- 6.3%
56,000 Banco Popular de Espanol .......................... 1,515,593
300,900 Dragados Construcciones SA ........................ 2,303,242
148,337 Endesa SA ......................................... 3,225,210
178,000 Repsol SA Sponsored ADR ........................... 3,671,250
60,962 Telefonica de Espana Sponsored ADR(1) ............. 4,038,747
-----------
14,754,042
-----------
AUSTRALIA -- 4.5%
353,500 Australia Gas Light Co. ........................... 1,835,810
184,900 Commonwealth Bank of Australia(2) ................. 2,813,797
1,017,000 Foster's Brewing Group ............................ 2,567,177
550,225 Westpac Banking Corp., Ltd.(2) .................... 3,509,205
-----------
10,725,989
-----------
SWEDEN -- 4.0%
67,824 AstraZeneca PLC ................................... 2,837,140
190,300 Electrolux AB-- Series B(2) ....................... 3,220,304
69,300 SKF AB-- B Shares(2) .............................. 1,486,209
74,000 Volvo AB-- B Shares(2) ............................ 1,797,780
-----------
9,341,433
-----------
DENMARK -- 2.3%
33,900 Tele Danmark AS(2) ................................ 2,486,177
37,050 Uni-Danmark ....................................... 2,966,269
-----------
5,452,446
-----------
FINLAND -- 2.1%
85,848 Nokia Corp.-- Sponsored ADR ....................... 4,882,605
-----------
SWITZERLAND -- 2.0%
1,100 Nestle AG Reg ..................................... 1,943,649
7,600 Swisscom AG ....................................... 2,685,770
-----------
4,629,419
-----------
See Notes to Financial Statements.
--63--
<PAGE>
------------------------
THE GLENMEDE FUND, INC.
------------------------
INSTITUTIONAL INTERNATIONAL PORTFOLIO
SCHEDULE OF PORTFOLIO INVESTMENTS -- (CONCLUDED)
APRIL 30, 2000 -- (UNAUDITED)
SHARES VALUE
------------ -----------
COMMON STOCKS -- (CONTINUED)
ITALY -- 1.7%
1,143,449 Bennetton Group S.P.A.(2) .......................... $ 2,109,987
35,600 ENI S.P.A.-- Sponsored ADR ......................... 1,851,200
-------------
3,961,187
-------------
BELGIUM -- 1.6%
9,100 Electrabel SA(2) ................................... 2,204,945
66,300 Fortis-- B ......................................... 1,677,751
-------------
3,882,696
-------------
NORWAY -- 1.0%
498,300 Christiania Bank OG Kreditkasse ASA ................ 2,305,819
-------------
IRELAND -- 0.9%
215,700 Allied Irish Banks ................................. 2,157,211
-------------
CANADA -- 0.8%
8,282 Magna Entertainment ................................ 34,164
41,411 Magna International Inc.-- Class A ................. 1,935,964
-------------
1,970,128
-------------
AUSTRIA -- 0.8%
41,500 Bank Austria ....................................... 1,845,465
-------------
SINGAPORE -- 0.7%
166,300 Singapore Air Ltd. Foreign ......................... 1,723,933
-------------
NEW ZEALAND -- 0.6%
357,500 Telecom Corp. New Zealand(2) ....................... 1,512,216
-------------
TOTAL COMMON STOCKS
(Cost $211,219,834)............................... 226,215,433
-------------
TOTAL INVESTMENTS (Cost $211,219,834)..................... 95.9% $226,215,433
OTHER ASSETS IN EXCESS OF LIABILITIES..................... 4.1 9,729,064
----- ------------
NET ASSETS................................................ 100.0% $235,944,497
===== ============
--------------
(1) Non-income producing security.
(2) Securities or partial securities on loan.
Abbreviation:
ADR -- American Depository Receipts
See Notes to Financial Statements.
--64--
<PAGE>
------------------------
THE GLENMEDE FUND, INC.
------------------------
INSTITUTIONAL INTERNATIONAL PORTFOLIO
SECTOR DIVERSIFICATION
ON APRIL 30, 2000, SECTOR DIVERSIFICATION OF THE PORTFOLIO WAS AS FOLLOWS
(UNAUDITED):
% OF NET
ASSETS VALUE
-------- ------------
INDUSTRIES:
Electronics............................... 13.0% $ 30,559,482
Telecommunications........................ 8.8 20,992,843
Foods and Beverages....................... 7.5 17,588,601
Oil Related............................... 6.7 15,853,353
Pharmaceuticals........................... 6.4 15,126,103
Chemicals................................. 5.6 13,115,827
Financial Services........................ 5.5 12,946,407
Automotive................................ 5.2 12,157,061
Utilities................................. 4.3 10,174,699
Banking................................... 3.6 8,484,538
Engineering and Construction.............. 2.7 6,441,634
Manufacturing............................. 2.5 5,853,649
Miscellaneous Industries.................. 2.4 5,611,587
Machinery................................. 2.4 5,580,914
Industrials............................... 2.2 5,270,250
Insurance................................. 2.1 4,991,233
Publishing................................ 2.0 4,751,858
Consumer Products......................... 1.9 4,534,517
Transportation............................ 1.7 3,974,293
Apparel................................... 1.5 3,569,909
Aerospace................................. 1.5 3,510,382
Housing and Home Furnishings.............. 1.5 3,508,772
Consumer Durables/Non-Durables............ 1.4 3,196,493
Retails................................... 1.2 2,794,444
Convenience Stores........................ 0.9 2,224,193
Natural Gas............................... 0.8 1,835,810
Tobacco................................... 0.6 1,532,417
Hotels, Restaurants & Leisure............. 0.0 34,164
---- ------------
TOTAL FOREIGN SECURITIES....................... 95.9% $226,215,433
---- ------------
TOTAL INVESTMENTS.............................. 95.9% $226,215,433
==== ============
See Notes to Financial Statements.
--65--
<PAGE>
------------------------
THE GLENMEDE FUND, INC.
------------------------
EMERGING MARKETS PORTFOLIO
SCHEDULE OF PORTFOLIO INVESTMENTS
APRIL 30, 2000 -- (UNAUDITED)
SHARES VALUE
------------ -----------
COMMON STOCKS -- 97.5%
MALAYSIA -- 12.5%
524,000 Arab Malaysia Corp Berhad(1,2) ..................... $ 548,834
194,000 Arab Malaysia Merchant(1,2)......................... 710,935
127,000 Genting Berhad ..................................... 511,353
65,000 Hong Leong Industries(1,2).......................... 224,084
1,097,000 Land & General Holdings ............................ 424,376
282,000 Malayan Banking Berhad(1,2) ........................ 1,134,453
792,000 Malayan Cement Berhad .............................. 268,869
222,000 Malaysia International Shipping(1,2) ............... 333,008
81,000 Malaysian Pacific Industries ....................... 905,942
359,000 Malaysian Resources Corp.(1,2) ..................... 332,555
54,000 Nestle Malaysia Berhad ............................. 258,638
144,000 Star Publications .................................. 522,960
119,000 Telekom Malaysia(1,2) .............................. 413,378
331,000 Tenaga Nasional Berhad(1,2) ........................ 1,070,836
129,000 United Engineers Malaysia(1,2) ..................... 332,692
----------
7,992,913
----------
SOUTH AFRICA -- 11.8%
19,700 Anglo American Platinum ............................ 476,571
10,000 Anglogold Ltd.(5) .................................. 380,572
40,900 Anglovaal Mining Ltd. .............................. 284,762
108,300 Barlow Ltd. ........................................ 682,939
19,000 DataTec Ltd.(1) .................................... 138,171
120,000 Dimension Data Holdings Ltd. ....................... 787,696
79,000 FirstRand Ltd. ..................................... 93,225
133,700 Gold Fields Ltd.(5)................................. 433,882
220,000 Iscor Ltd.(1) ...................................... 486,778
300,000 Old Mutual PLC ..................................... 674,852
330,000 Sanlam Ltd. ........................................ 391,856
186,000 Sappi Ltd. ......................................... 1,303,238
45,000 South African Breweries(1) ......................... 331,894
133,300 Standard Bank Investment ........................... 491,572
60,000 Tiger Oats Ltd.(5).................................. 602,720
----------
7,560,728
----------
See Notes to Financial Statements.
--66--
<PAGE>
------------------------
THE GLENMEDE FUND, INC.
------------------------
EMERGING MARKETS PORTFOLIO
SCHEDULE OF PORTFOLIO INVESTMENTS -- (CONTINUED)
APRIL 30, 2000 -- (UNAUDITED)
SHARES VALUE
------------ -----------
COMMON STOCKS -- (CONTINUED)
TAIWAN -- 9.5%
40,167 Accton Technology(1) ............................... $ 202,841
64,145 Acer, Inc. GDR ..................................... 673,522
255,000 Advanced Semiconductor (1) ......................... 816,145
98 Asustek Computer, Inc., GDR(1,4) ................... 1,294
49,435 China Steel Corp. GDR(1) ........................... 694,562
739,000 Chinatrust Com Bank ................................ 610,613
362,000 Evergreen Marine ................................... 283,740
5,152 Evergreen Marine Corp. GDR(1) ...................... 40,701
449,000 Nan Ya Plastic ..................................... 960,481
56,000 Synnex Technology Intl. Corp. ...................... 378,581
21,600 Systex Corp. ....................................... 94,175
14,060 Taiwan Semiconductor ADR(1) ........................ 732,877
192,000 United Micro Electric .............................. 648,997
----------
6,138,529
----------
BRAZIL -- 8.8%
476,000,000 Acesita SA-- Pfd(1) ................................ 340,292
6,045,200 Caemi Mineracao E Metal ............................ 536,026
19,000 Cia Vale Do Rio Doce ............................... 415,917
5,900,000 Eletropaulo Metropolitana Pfd(1) ................... 340,049
29,700 Embratel Participacoes-- ADR ....................... 668,252
8,436 Itausa Prf Npv ..................................... 6,358
4,249,000 Light Servicos de Electricidade SA(1) .............. 490,585
2,430,000 Petroleo Brasileiro SA Pfd ......................... 575,702
7,400 Tele Centro Sul Part-- ADR ......................... 471,750
17,873 Tele Norte Lest .................................... 318,371
24,196,500 Telesp Celular Participacoes Pfd(1) ................ 422,529
10,000 Telesp Celular Participacoes(1) .................... 441,250
11,000 Unibanco-- GDR ..................................... 274,312
80,000 Usinas Sider Minas Ger Pfd A(1) .................... 332,955
33,340 Vale do Rio Doce Pfd A Npv(1,2) .................... --
----------
5,634,348
----------
See Notes to Financial Statements.
--67--
<PAGE>
------------------------
THE GLENMEDE FUND, INC.
------------------------
EMERGING MARKETS PORTFOLIO
SCHEDULE OF PORTFOLIO INVESTMENTS -- (CONTINUED)
APRIL 30, 2000 -- (UNAUDITED)
SHARES VALUE
------------ -----------
COMMON STOCKS -- (CONTINUED)
INDIA -- 7.3%
14,000 Bombay Suburban Elect Co.(1) ....................... $ 245,000
18,000 ICICI Bank Ltd. ADR(1) ............................. 310,500
89,700 India Fund(1) ...................................... 1,283,831
30,400 Larsen and Toubro-- GDR ............................ 416,480
55,000 Mahanagar Telephone Nigam Ltd. ADR ................ 715,000
10,000 Pentamedia Graphics GDR(1) ......................... 205,000
25,000 Reliance Industries GDR ............................ 650,625
26,000 SSSI Ltd. GDR(1) ................................... 233,350
35,000 Videsh Sanchar Nigam Ltd. .......................... 661,500
----------
4,721,286
----------
CHINA -- 6.8%
1,099,800 China Aerospace International(1) ................... 194,855
1,150,000 China Everbright ................................... 812,044
532,000 China Merchants Holdings International(5) .......... 331,263
160,000 China Telecommunications(1) ........................ 1,155,478
698,000 Great Wall Technology .............................. 582,489
518,000 Legend Holdings Ltd. ............................... 601,863
2,994,000 Shanghai Petrochemical ............................. 403,609
1,628,000 Yizheng Chemical Fibre ............................. 315,610
----------
4,397,211
----------
SOUTH KOREA -- 6.4%
7,200 Cheil Jedang Corp. ................................. 369,825
3,580 Hanjin Heavy Industries ............................ 11,743
1,380 Housing & Commercial ............................... 23,628
11,250 Korea Electric Power ............................... 329,477
4,882 Korea Tech Investment .............................. 20,941
18,512 LG Chemical Ltd. ................................... 425,385
2,960 LG Information & Communication ..................... 228,059
28,200 Samsung Corp.(1) ................................... 320,190
4,852 Samsung Electronics ................................ 1,311,689
734 Samsung Fire and Marine ............................ 15,023
15,800 SK Corp. ........................................... 298,284
2,800 SK Telecom Co. Ltd. ................................ 744,336
----------
4,098,580
----------
See Notes to Financial Statements.
--68--
<PAGE>
------------------------
THE GLENMEDE FUND, INC.
------------------------
EMERGING MARKETS PORTFOLIO
SCHEDULE OF PORTFOLIO INVESTMENTS -- (CONTINUED)
APRIL 30, 2000 -- (UNAUDITED)
SHARES VALUE
------------ -----------
COMMON STOCKS -- (CONTINUED)
MEXICO -- 5.8%
156,000 Carso Global Telecom ............................... $ 419,283
105,000 Consorcio Ara S.A.(1) .............................. 130,062
301,000 Controladora Comercial ............................. 322,961
268,000 Grupo Elektra SA de CV ............................. 261,930
17,000 Grupo Iusacell ADR(1) .............................. 270,937
158,000 Grupo Mexico S.A. .................................. 644,541
7,500 Grupo Televisa S.A. GDR(1) ......................... 475,781
15,600 Telefonos de Mexico SA ADR Class L(1) .............. 917,475
24,800 TV Azteca S.A. ADR ................................. 272,800
----------
3,715,770
----------
TURKEY -- 5.7%
5,200,000 Aksa Akrilik ....................................... 365,987
3,109,000 Alarko Holding A.S. ................................ 211,185
11,000,000 Dogan Sirketler Grubu Holdings ..................... 342,090
13,060,000 Eregli Demir Ve Celik Fabrikalari TAS .............. 716,114
5,000,000 Ihlas Holding A.S. ................................. 376,463
106 T Sise Cam ......................................... 2
23,000,000 Tofas-Truck Otomobil ............................... 423,521
22,059,000 Turkiye Is Bankasi ................................. 1,209,553
----------
3,644,915
----------
RUSSIA -- 5.6%
140,000 Mosenergo ADR ...................................... 970,200
21,000 Rostelekom Sponsored ADR ........................... 408,187
107,000 UES Ser3 CSFB ...................................... 1,966,125
8,000 Vimpel Communication ADR(1) ........................ 268,000
----------
3,612,512
----------
PAKISTAN -- 3.7%
980,000 Hub Power Co. ...................................... 453,237
216,000 Pakistan State Oil Co. Ltd. ........................ 894,912
1,800,000 Pakistan Telecom Corp. Ltd.(1) ..................... 1,016,315
----------
2,364,464
----------
See Notes to Financial Statements.
--69--
<PAGE>
------------------------
THE GLENMEDE FUND, INC.
------------------------
EMERGING MARKETS PORTFOLIO
SCHEDULE OF PORTFOLIO INVESTMENTS -- (CONTINUED)
APRIL 30, 2000 -- (UNAUDITED)
SHARES VALUE
------------ -----------
COMMON STOCKS -- (CONTINUED)
THAILAND -- 3.4%
34,500 Advanced Info Service .............................. $ 404,030
287,900 Bangkok Bank (F)(1) ................................ 487,597
594,000 Cogeneration Public(1,3) ........................... 222,260
297,000 Cogeneration Public Rights ......................... 33,144
3,917 Delta Electronic Rights ............................ 39,495
39,175 Delta Electronics (F) .............................. 405,289
190,800 Siam Commercial Bank(1) ............................ 160,320
337,000 Telecomasia (F)(1) ................................. 451,294
----------
2,203,429
----------
INDONESIA -- 2.6%
1,309,000 PT Astra Agro Lestari .............................. 276,674
716,000 PT Astra International.............................. 289,119
24,700,000 PT Bank Internasional Indonesia(1) ................. 233,761
1,103,000 PT Pabrik Kertas Tjiwi Kimia(1) .................... 205,297
78,700 PT Telekomunikas Indonesia ADR ..................... 678,787
----------
1,683,638
----------
PHILIPPINES -- 2.0%
285,000 ABS-CBN Holdings Corp(1) ........................... 338,269
1,630,000 Benpres Holdings Corp.(1) .......................... 229,001
4,000,000 Filinvest Land Inc.(1) ............................. 186,030
2,809,500 International Container Terminal Services, Inc. .... 103,441
11,000 Philippine Long Distance Telephone Co. ............. 202,812
147,000 Philippines National Bank(3)........................ 227,886
----------
1,287,439
----------
POLAND -- 1.7%
20,000 Bank Polska Kasa Opieki(1) ......................... 237,091
4,300 Netia Holdings SA-- ADR ............................ 118,895
99,130 Telekomunikacja Polska GDR(1) ...................... 760,823
----------
1,116,809
----------
EGYPT -- 1.0%
29,900 Commercial International Bank ...................... 321,958
74,797 Ezz Steel .......................................... 152,373
12,662 Orascom Construction Holding(1) .................... 173,892
----------
648,223
----------
See Notes to Financial Statements.
--70--
<PAGE>
------------------------
THE GLENMEDE FUND, INC.
------------------------
EMERGING MARKETS PORTFOLIO
SCHEDULE OF PORTFOLIO INVESTMENTS -- (CONCLUDED)
APRIL 30, 2000 -- (UNAUDITED)
SHARES VALUE
------------ -----------
COMMON STOCKS -- (CONTINUED)
CZECH REPUBLIC -- 0.7%
150,700 Ceske Energeticke Zavody AS(1) ..................... $ 441,438
-----------
GREECE -- 0.7%
35,000 Panafon Hellenic Telecom SA ........................ 422,842
-----------
HUNGARY -- 0.5%
19,770 MOL Magyar Olaj-es Gazipari Rt. GDR ................ 348,446
-----------
CHILE -- 0.5%
23,560 Masisa SA ADR ...................................... 323,950
-----------
ARGENTINA -- 0.4%
25,040 Quilmes Industrial Quins ADR ....................... 237,880
-----------
VENEZUELA -- 0.2%
6,406 Electricidad de Caracas ADR(1) ..................... 122,515
38,823 Sudamtex de Venezuela .............................. 22,432
113,400 Venepal S.A.C.A. ADR 144A(4) ....................... 9,571
-----------
154,518
-----------
SLOVAKIA -- 0.0%
2,000 Chirana Prema AS(1,2,3) ............................ --
-----------
TOTAL COMMON STOCKS
(Cost $58,085,702)................................ 62,749,868
-----------
TOTAL INVESTMENTS (Cost $58,085,702).................... 97.5% $62,749,868
OTHER ASSETS IN EXCESS OF LIABILITIES................... 2.5% 1,636,943
----- -----------
NET ASSETS.............................................. 100.0% $64,386,811
===== ===========
-----------------
(1) Non-income producing security.
(2) Fair Valued Security.
(3) Illiquid Security.
(4) Security exempt from registration under Rule 144A of the Securities Act of
1933. This security may be resold in transactions exempt from registrations,
normally to qualified institutional buyers.
(5) Securities or partial securities on loan.
Abbreviations:
ADR -- American Depository Receipt
CSFB -- Credit Suisse Financial Brokers
F -- Foreign Shares
GDR -- Global Depository Receipt
See Notes to Financial Statements.
--71--
<PAGE>
------------------------
THE GLENMEDE FUND, INC.
------------------------
EMERGING MARKETS PORTFOLIO
SECTOR DIVERSIFICATION
ON APRIL 30, 2000, SECTOR DIVERSIFICATION OF THE PORTFOLIO WAS AS FOLLOWS
(UNAUDITED):
% OF
NET ASSETS VALUE
----------- -----------
INDUSTRIES:
Telecommunications........................ 19.6% $12,605,770
Utilities -- Electric..................... 9.2 5,913,951
Banking................................... 8.8 5,644,667
Technology Software & Services............ 7.4 4,736,068
Electronic Components & Instruments ..... 4.7 3,055,136
Financial Services........................ 4.7 3,042,233
Metals and Mining......................... 4.3 2,756,354
Metals -- Steel........................... 4.2 2,723,075
Building Materials........................ 4.2 2,677,119
Textiles & Apparel........................ 2.8 1,831,424
Broadcasting & Publishing................. 2.5 1,609,810
Manufacturing............................. 2.2 1,407,493
Business Systems.......................... 2.1 1,352,930
Oil Related............................... 2.1 1,327,757
Consumer Products......................... 2.0 1,303,238
Forest Products & Paper................... 1.7 1,120,810
Insurance................................. 1.7 1,081,731
Automobiles............................... 1.6 1,054,730
Energy.................................... 1.5 942,535
Transportation............................ 1.2 760,890
Chemicals................................. 1.2 740,995
Semiconductor Equipment & Products........ 1.1 732,878
Retail.................................... 0.9 584,890
Beverages................................. 0.9 569,774
Diversified Manufacturing................. 0.8 527,547
Leisure................................... 0.8 511,354
Multi-Industry............................ 0.7 424,376
Engineering............................... 0.6 416,480
Food and Household Products............... 0.6 369,825
Glass..................................... 0.5 331,263
Real Estate............................... 0.5 316,091
Agriculture............................... 0.4 276,674
---- -----------
TOTAL FOREIGN SECURITIES....................... 97.5% $62,749,868
---- -----------
TOTAL INVESTMENTS.............................. 97.5% $62,749,868
==== ===========
See Notes to Financial Statements.
--72--
<PAGE>
------------------------
THE GLENMEDE FUND, INC.
------------------------
GLOBAL EQUITY PORTFOLIO
SCHEDULE OF PORTFOLIO INVESTMENTS
APRIL 30, 2000 -- (UNAUDITED)
SHARES VALUE
------------ -----------
COMMON STOCKS -- 96.6%
UNITED STATES -- 22.6%
800 Alcoa, Inc. ........................................ $ 51,900
3,900 Alltel Corp. ....................................... 259,837
2,500 American General Corp. ............................. 140,000
2,700 American Home Products Corp. ....................... 151,706
1,600 American International Group, Inc. ................. 175,500
2,100 American Power Conversion Corp. .................... 74,156
2,600 Anheuser-Busch Companies, Inc. ..................... 183,462
1,700 Apple Computer, Inc.(1)............................. 210,906
2,600 AT&T Corp. ......................................... 121,387
2,300 Bank of America..................................... 112,700
2,700 Bell Atlantic Corp. ................................ 159,975
1,100 Bristol-Myers Squibb Co. ........................... 57,681
3,600 Cendant Corp.(1).................................... 55,575
1,600 Chase Manhattan Corp. .............................. 115,300
4,800 Citigroup, Inc. .................................... 285,300
2,100 Coastal Corp. ...................................... 105,394
3,300 Columbia Energy Group............................... 207,075
2,500 Columbia/HCA Healthcare Corp. ...................... 71,094
2,000 Computer Associates International, Inc. ............ 111,625
1,400 Cooper Industries, Inc. ............................ 48,037
1,800 Disney (Walt) Co. .................................. 77,962
1,700 Dover Corp. ........................................ 86,381
600 Dow Chemical Co. ................................... 67,800
3,700 Equity Residential Properties Trust................. 168,350
3,012 Exxon Mobil Corp. .................................. 233,995
4,800 First Data Corp. ................................... 233,700
3,400 Fleet Boston Financial Corp. ....................... 120,487
500 GTE Corp. .......................................... 33,875
700 Hewlett-Packard Co. ................................ 94,500
1,600 Household International, Inc. ...................... 66,800
600 International Business Machines Corp. .............. 66,975
1,500 Johnson & Johnson................................... 123,750
2,500 Kerr-McGee Corp. ................................... 129,375
2,700 Kimberly-Clark Corp. ............................... 156,769
1,885 Lincoln National Corp. ............................. 65,622
1,500 Lowe's Cos., Inc. .................................. 74,250
See Notes to Financial Statements.
--73--
<PAGE>
------------------------
THE GLENMEDE FUND, INC.
------------------------
GLOBAL EQUITY PORTFOLIO
SCHEDULE OF PORTFOLIO INVESTMENTS -- (CONTINUED)
APRIL 30, 2000 -- (UNAUDITED)
SHARES VALUE
------------ -----------
COMMON STOCKS -- (CONTINUED)
UNITED STATES -- (CONTINUED)
1,650 McGraw-Hill, Inc. .................................. $ 86,625
800 Minnesota Mining & Manufacturing Co. ............... 69,200
1,600 Morgan Stanley Dean Witter & Co. ................... 122,800
1,200 Motorola, Inc. ..................................... 142,875
800 Procter & Gamble Co. ............................... 47,700
900 Providian Financial Corp............................ 79,256
1,800 Rohm & Haas Co. .................................... 64,125
3,300 Schlumberger Ltd. .................................. 252,656
1,300 SCI Systems, Inc.(1)................................ 69,225
4,200 Sprint Corp. ....................................... 258,300
800 Symantec Corp.(1)................................... 49,950
2,000 Target Corp......................................... 133,125
700 Teradyne, Inc.(1)................................... 77,000
1,300 TRW, Inc. .......................................... 76,050
4,900 Tyco International Ltd. ............................ 225,094
1,400 U.S. West, Inc. .................................... 99,663
2,600 United Technologies Corp. .......................... 161,688
1,400 Warner-Lambert Co. ................................. 159,338
1,200 Weyerhaeuser Co. ................................... 64,125
----------
6,737,996
----------
JAPAN -- 16.3%
11,000 Canon, Inc. ........................................ 502,815
27,000 Chugai Pharmaceutical Co. .......................... 519,656
17,000 Dai Nippon Printing Co., Ltd. ...................... 288,337
6,000 Eisai Co., Ltd. .................................... 174,884
4,000 Familymart Co., Ltd. ............................... 146,570
25,000 Fuji Heavy Industries............................... 190,846
6,000 Fuji Photo Film Co., Ltd. .......................... 240,396
11,000 JUSCO Co. .......................................... 203,569
13,000 Kao Corp. .......................................... 395,756
96,000 Kubota Corp. ....................................... 312,682
2,000 Nintendo Corp., Ltd. ............................... 333,113
20 Nippon Telegraph & Telephone Corp. ................. 247,984
900 Rohm Co. ........................................... 301,467
18,000 Shiseido Co., Ltd. ................................. 227,516
1,200 Sony Corp. ......................................... 137,798
See Notes to Financial Statements.
--74--
<PAGE>
------------------------
THE GLENMEDE FUND, INC.
------------------------
GLOBAL EQUITY PORTFOLIO
SCHEDULE OF PORTFOLIO INVESTMENTS -- (CONTINUED)
APRIL 30, 2000 -- (UNAUDITED)
SHARES VALUE
------------ -----------
COMMON STOCKS -- (CONTINUED)
JAPAN -- (CONTINUED)
1,200 Sony Corp. New...................................... $ 138,797
6,000 Toyota Motor Corp. ................................ 298,136
24,000 Wacoal Corp. ....................................... 202,532
----------
4,862,854
----------
UNITED KINGDOM -- 13.8%
47,100 Allied Domecq PLC................................... 231,425
22,880 Associated British Foods............................ 136,766
7,887 Bass PLC............................................ 92,747
11,500 BOC Group PLC....................................... 190,209
55,000 British Aerospace PLC............................... 342,750
18,000 British Telecommunications PLC...................... 323,069
58,000 Cadbury Schweppes PLC............................... 396,160
80,000 Corus Group PLC..................................... 108,284
33,000 Gallaher Group PLC.................................. 164,081
65,918 Invensys PLC........................................ 318,987
20,000 Johnson Matthey PLC................................. 265,390
18,000 Rio Tinto PLC....................................... 280,960
31,000 Royal & Sun Alliance Insurance Group PLC............ 174,995
45,000 Scottish Power PLC.................................. 363,523
20,000 Smithkline Beecham PLC.............................. 275,248
68,000 Tomkins PLC......................................... 209,089
29,804 Trinity Mirror PLC.................................. 232,487
----------
4,106,170
----------
FRANCE -- 9.1%
1,200 Alcatel(2).......................................... 278,843
1,600 Compagnie de Saint-Gobain........................... 218,846
1,600 Groupe Danone(2).................................... 350,649
3,700 Lafarge SA.......................................... 307,155
5,500 Lagardere Groupe SCA................................ 373,385
3,000 Schneider SA........................................ 196,830
6,000 SCOR SA............................................. 261,784
3,648 Total Fina SA....................................... 554,816
3,000 Valeo SA............................................ 166,759
----------
2,709,067
----------
See Notes to Financial Statements.
--75--
<PAGE>
------------------------
THE GLENMEDE FUND, INC.
------------------------
GLOBAL EQUITY PORTFOLIO
SCHEDULE OF PORTFOLIO INVESTMENTS -- (CONTINUED)
APRIL 30, 2000 -- (UNAUDITED)
SHARES VALUE
------------ -----------
COMMON STOCKS -- (CONTINUED)
GERMANY -- 6.2%
6,226 Aventis SA.......................................... $ 338,705
6,000 Bayer AG............................................ 244,124
12,500 Continental AG...................................... 229,521
3,000 Daimler-Chrysler AG................................. 176,054
4,100 Siemens AG.......................................... 597,781
5,000 Veba AG............................................. 243,760
----------
1,829,945
----------
SPAIN -- 5.7%
10,784 Endesa SA........................................... 234,471
36,000 Grupo Dragados, SA.................................. 275,562
21,000 Repsol SA........................................... 430,566
34,332 Telefonica de Espana(1)............................. 765,858
----------
1,706,457
----------
AUSTRALIA -- 3.7%
48,300 Australian Gas Light Co. ........................... 250,833
20,000 Commonwealth Bank of Australia...................... 304,359
126,000 Foster's Brewing Group.............................. 318,057
35,000 Westpac Banking Corp., Ltd. ........................ 223,222
----------
1,096,471
----------
SWEDEN -- 3.5%
7,063 AstraZeneca PLC..................................... 295,452
20,000 Electrolux AB-- Series B(2)......................... 338,445
9,000 SKF AB-- Series B(2)................................ 193,014
9,000 Volvo AB-- Series B(2).............................. 218,649
----------
1,045,560
----------
NETHERLANDS -- 3.5%
16,000 ABN-Amro Holdings NV................................ 330,237
11,500 Hagemeyer NV(2)..................................... 226,879
10,500 Koninklijke Ahold NV(2)............................. 245,423
3,900 Royal Dutch Petroleum Co. .......................... 225,316
----------
1,027,855
----------
See Notes to Financial Statements.
--76--
<PAGE>
------------------------
THE GLENMEDE FUND, INC.
------------------------
GLOBAL EQUITY PORTFOLIO
SCHEDULE OF PORTFOLIO INVESTMENTS -- (CONTINUED)
APRIL 30, 2000 -- (UNAUDITED)
SHARES VALUE
------------ -----------
COMMON STOCKS -- (CONTINUED)
FINLAND -- 2.2%
11,600 Nokia Ab-A Shares................................... $ 666,999
----------
DENMARK -- 1.9%
3,300 Tele Danmark AS(2).................................. 242,017
3,850 Uni-Danmark......................................... 308,236
----------
550,253
----------
SWITZERLAND -- 1.5%
110 Nestle SA -- Registered............................. 194,365
740 Swisscom AG......................................... 261,509
----------
455,874
----------
ITALY -- 1.5%
110,388 Bennetton Group S.p.A.(2) .......................... 203,697
48,000 Eni S.p.A. ......................................... 239,258
----------
442,955
----------
BELGIUM -- 1.2%
900 Electrabel SA(2).................................... 218,071
6,000 Fortis -- B......................................... 151,833
----------
369,904
----------
NORWAY -- 0.8%
48,000 Christiania Bank OG Kreditkasse ASA................. 222,114
----------
IRELAND -- 0.7%
21,500 Allied Irish Bank................................... 215,021
----------
AUSTRIA -- 0.7%
4,500 Bank Austria AG..................................... 200,111
----------
SINGAPORE -- 0.7%
19,000 Singapore Airlines Ltd. (F)......................... 198,074
----------
CANADA -- 0.6%
800 Magna Entertainment................................. 3,300
4,000 Magna International, Inc. -- Class A................ 187,000
----------
190,300
----------
See Notes to Financial Statements.
--77--
<PAGE>
------------------------
THE GLENMEDE FUND, INC.
------------------------
GLOBAL EQUITY PORTFOLIO
SCHEDULE OF PORTFOLIO INVESTMENTS -- (CONCLUDED)
APRIL 30, 2000 -- (UNAUDITED)
SHARES VALUE
------------ -----------
COMMON STOCKS -- (CONTINUED)
NEW ZEALAND -- 0.4%
29,000 Telecom Corp. New Zealand........................... $ 122,669
-----------
TOTAL COMMON STOCKS
(Cost $26,163,335)................................ 28,756,649
-----------
FACE
AMOUNT
-------
REPURCHASE AGREEMENT -- 1.9%
$550,000 With Goldman Sachs & Co., 5.58% 5/1/00 (dated
4/28/00, collateralized by $390,000 U.S.
Treasury Bonds, 14.00% due 11/15/11, market
value $564,046), (Cost $550,000).................. 550,000
-----------
TOTAL INVESTMENTS (Cost $26,713,335).................... 98.5% $29,306,649
OTHER ASSETS IN EXCESS OF LIABILITIES................... 1.5 449,605
----- -----------
NET ASSETS.............................................. 100.0% $29,756,254
===== ===========
---------------
(1) Non-income producing security.
(2)Securities or partial securities on loan.
Abbreviation:
F -- Foreign Shares
See Notes to Financial Statements.
--78--
<PAGE>
------------------------
THE GLENMEDE FUND, INC.
------------------------
GLOBAL EQUITY PORTFOLIO
SECTOR DIVERSIFICATION
ON APRIL 30, 2000, SECTOR DIVERSIFICATION OF THE PORTFOLIO WAS AS FOLLOWS
(UNAUDITED):
% OF
NET ASSETS VALUE
----------- -----------
INDUSTRIES:
Telecommunications........................ 10.2% $ 3,039,019
Finance................................... 7.7 2,293,416
Consumer Durables/Non-Durables............ 7.3 2,184,939
Oil & Gas................................. 7.3 2,160,521
Food & Beverage........................... 6.6 1,965,592
Electrical................................ 6.2 1,856,134
Health Care & Pharmaceuticals............. 5.6 1,677,102
Automotive................................ 4.1 1,237,443
Technology................................ 4.1 1,210,981
Chemicals................................. 3.6 1,077,560
Banking................................... 3.2 945,481
Utilities................................. 3.1 915,909
Engineering & Construction................ 3.0 901,704
Publishing................................ 3.0 894,209
Manufacturing............................. 3.0 893,649
Retail.................................... 1.9 575,232
Aerospace & Defense....................... 1.9 573,662
Consumer Services......................... 1.7 504,581
Energy.................................... 1.6 468,763
Insurance................................. 1.5 436,780
Apparel & Textiles........................ 1.4 406,230
Industrials............................... 1.2 348,760
Housing & Home Furnishings................ 0.9 278,843
Business Services......................... 0.8 233,700
Tire & Rubber Goods....................... 0.8 229,521
Miscellaneous Industries.................. 0.8 227,516
Basic Industry............................ 0.7 218,846
Capital Goods............................. 0.7 209,089
Transportation............................ 0.7 198,074
Real Estate............................... 0.6 168,350
Tobacco................................... 0.5 164,081
Media..................................... 0.3 77,962
Computers................................. 0.2 66,975
Paper & Forest Products................... 0.2 64,125
Non-energy Minerals....................... 0.2 51,900
----- -----------
TOTAL COMMON STOCK............................. 96.6% $28,756,649
REPURCHASE AGREEMENT........................... 1.9 550,000
----- -----------
TOTAL INVESTMENTS.............................. 98.5% $29,306,649
===== ===========
See Notes to Financial Statements.
--79--
<PAGE>
------------------------
THE GLENMEDE FUND, INC.
------------------------
SMALL CAPITALIZATION GROWTH PORTFOLIO
SCHEDULE OF PORTFOLIO INVESTMENTS
APRIL 30, 2000 -- (UNAUDITED)
SHARES VALUE
------------ -----------
COMMON STOCKS -- 93.9%
CAPITAL GOODS -- 4.7%
48,500 O'Reilly Automotive, Inc. .......................... $ 654,750
27,000 Quanta Services, Inc.(1,2) ......................... 1,253,812
8,600 Remec, Inc.(1) ..................................... 326,262
68,800 Tower Automotive, Inc.(1) .......................... 1,075,000
-----------
3,309,824
-----------
COMMERCIAL SERVICES -- 0.5%
11,000 QRS Corp.(1) ....................................... 363,000
-----------
CONSUMER SERVICES -- 18.2%
30,300 Chico's FAS, Inc.(1) ............................... 543,506
2,600 Citadel Communications Corp. ....................... 101,562
38,500 Cost Plus, Inc.(1) ................................. 1,176,656
1,600 Cox Radio, Inc.-- Class A(1) ....................... 116,000
79,800 David's Bridal, Inc. ............................... 917,700
1,700 eBay, Inc.(2) ...................................... 270,619
66,300 Education Management Corp.(1) ...................... 1,085,662
6,700 Emmis Broadcasting Corp. -- Class A(2).............. 284,750
2,000 Entercom Communications Corp. ...................... 85,000
25,900 Gemstar International Group Ltd.(1,2) .............. 1,197,875
9,600 Goto.com(2) ........................................ 327,600
32,500 Hot Topic, Inc.(2) ................................. 999,375
17,200 Hotjobs.com Ltd. ................................... 199,950
4,500 Linens `N Things, Inc.(1) .......................... 138,937
16,400 Macrovision Corp.(1) ............................... 801,550
43,700 NCO Group, Inc.(1) ................................. 1,502,187
3,100 Pacific Sunwear of California(1) ................... 105,594
1,500 Pegasus Communications Corp.-- Class A 144A(1) ..... 163,687
17,300 Radio One, Inc.(1,2) ............................... 1,003,400
6,300 Smartforce PLC ..................................... 300,825
700 Spanish Broadcast .................................. 13,081
5,200 Westwood One, Inc.(1) .............................. 183,950
49,800 Whitehall Jewellers, Inc. .......................... 855,937
40,700 Wild Oats Markets, Inc.(1,2) ....................... 539,275
-----------
12,914,678
-----------
See Notes to Financial Statements.
--80--
<PAGE>
------------------------
THE GLENMEDE FUND, INC.
------------------------
SMALL CAPITALIZATION GROWTH PORTFOLIO
SCHEDULE OF PORTFOLIO INVESTMENTS -- (CONTINUED)
APRIL 30, 2000 -- (UNAUDITED)
SHARES VALUE
------------ -----------
COMMON STOCKS -- (CONTINUED)
ELECTRONIC TECHNOLOGY -- 1.8%
11,600 Net Perceptions, Inc.(1) .......................... $ 224,750
8,000 Netopia, Inc.(1) .................................. 334,000
600 Powerwave Technologies, Inc.(1) ................... 124,838
4,600 Virata Corp. ...................................... 576,150
----------
1,259,738
----------
FINANCIAL SERVICES -- 2.3%
41,000 Charles River Associates(1) ....................... 832,812
18,670 E Trade Group, Inc.(1,2) .......................... 401,405
23,900 Profit Recovery Group International, Inc. ......... 419,744
----------
1,653,961
----------
HEALTH CARE SERVICES -- 0.2%
1,600 Protein Design Labs, Inc.(1) ...................... 162,400
----------
HEALTHCARE -- 4.8%
6,400 Alkermes, Inc.(1) ................................. 340,800
7,100 ANDRX Corp.(1) .................................... 363,431
3,400 Aurora Bioscience ................................. 123,250
3,400 Diametrics Medical, Inc. .......................... 27,200
5,900 Imclone Systems(1) ................................ 536,900
4,400 Medarex, Inc. ..................................... 233,200
53,500 Orthodontic Centers of America, Inc.(1,2) ......... 1,133,531
23,700 Renal Care Group, Inc.(1) ......................... 528,806
4,500 Titan Pharmaceuticals ............................. 144,000
----------
3,431,118
----------
SPECIALTY TELECOMMUNICATION SERVICES -- 0.9%
9,500 Clarus Corp. ...................................... 381,781
26,300 Eprise Corp. ...................................... 261,356
----------
643,137
----------
TECHNOLOGY -- 51.4%
7,800 About.com ......................................... 267,637
29,800 Actuate Corp. (1) ................................. 892,137
30,300 Advent Software, Inc. (1) ......................... 1,590,750
2,200 Agile Software(2) ................................. 81,537
See Notes to Financial Statements.
--81--
<PAGE>
------------------------
THE GLENMEDE FUND, INC.
------------------------
SMALL CAPITALIZATION GROWTH PORTFOLIO
SCHEDULE OF PORTFOLIO INVESTMENTS -- (CONTINUED)
APRIL 30, 2000 -- (UNAUDITED)
SHARES VALUE
------------ -----------
COMMON STOCKS -- (CONTINUED)
TECHNOLOGY -- (CONTINUED)
13,400 Alpha Industries, Inc.(1) ........................... $ 696,800
13,600 Anaren Microwave, Inc. .............................. 1,414,400
3,300 ArrowPoint Communications, Inc.(2) .................. 323,400
2,100 Checkfree Holdings Corp.(2) ......................... 106,706
19,600 Citrix Systems, Inc.(1,2) ........................... 1,196,825
2,700 Cobalt Networks, Inc.(2) ............................ 85,388
8,800 Corporate Executive Board Co.(1) .................... 517,000
27,200 Creo Products(2) .................................... 986,000
2,800 Critical Path, Inc.(1) .............................. 162,750
20,100 CSG Systems International, Inc.(1) .................. 927,113
3,500 Cymer, Inc.(2) ...................................... 136,719
19,800 Dendrite International, Inc. (1) .................... 452,925
14,700 Diamond Technology Partners, Inc.-- Class A(1,2) .... 1,163,138
4,700 Digex, Inc. ......................................... 366,600
1,800 E.piphany, Inc.(2) .................................. 118,913
7,100 Eloyalty Corp.(2) ................................... 116,706
3,500 Emisphere Technologies, Inc. ........................ 143,664
600 Exar Corp.(1) ....................................... 48,103
17,500 Exchange Applications, Inc.(1,2) .................... 213,284
24,400 Exodus Communications, Inc.(1) ...................... 2,157,875
9,200 Extensity, Inc. ..................................... 112,700
41,700 F.Y. I., Inc.(1) .................................... 1,118,081
18,900 HNC Software, Inc. .................................. 935,550
5,800 Informatica Corp.(1) ................................ 243,238
23,200 Infospace.com, Inc.(1) .............................. 1,666,050
4,900 Interwoven, Inc.(2).................................. 339,325
11,600 Iprint.com .......................................... 55,100
2,000 Keynote Systems, Inc. ............................... 89,750
2,700 Macromedia, Inc.(1) ................................. 234,900
10,500 Maxim Integrated Products, Inc.(1) .................. 680,531
11,300 McAfee.com Corp. .................................... 196,338
36,100 MedQuist, Inc.(1) ................................... 1,279,294
16,400 Mercury Computer Systems, Inc.(1) ................... 630,375
See Notes to Financial Statements.
--82--
<PAGE>
------------------------
THE GLENMEDE FUND, INC.
------------------------
SMALL CAPITALIZATION GROWTH PORTFOLIO
SCHEDULE OF PORTFOLIO INVESTMENTS -- (CONTINUED)
APRIL 30, 2000 -- (UNAUDITED)
SHARES VALUE
------------ -----------
COMMON STOCKS -- (CONTINUED)
TECHNOLOGY -- (CONTINUED)
5,800 Mercury Interactive Corp.(1,2) ...................... $ 522,000
4,800 Micrel, Inc.(1) ..................................... 415,200
6,000 Micromuse, Inc.(1) .................................. 588,750
14,800 MICROS Systems, Inc.(1) ............................. 595,700
5,800 Mypoints.com, Inc. .................................. 101,500
33,300 National Computer Systems, Inc.(2) .................. 1,712,869
5,800 Navisite, Inc. ...................................... 269,338
2,600 Netiq Corp. ......................................... 95,550
6,500 Nextcard, Inc.(1) ................................... 68,656
15,000 Peregrine Systems, Inc.(1) .......................... 360,938
22,500 Pericom Semiconductor Corp. ......................... 988,594
29,200 PLX Technology, Inc.(1) ............................. 961,775
8,400 Predictive System ................................... 395,850
1,400 Probusiness Service, Inc(1) ......................... 36,925
6,400 Proxicom, Inc.(1) ................................... 218,800
6,600 Quest Software, Inc. ................................ 248,738
12,100 Razorfish(2) ........................................ 229,144
5,600 Retek, Inc.(2)....................................... 120,400
1,300 Scient Corp. (2)..................................... 70,200
7,900 Semtech Corp.(1,2) .................................. 538,681
40,800 Serena Software, Inc. ............................... 892,500
6,300 Siebel Systems, Inc. (1,2) ......................... 774,113
4,900 Silicon Image, Inc. ................................. 196,613
2,600 Software.com ........................................ 210,275
15,100 Tibco Software, Inc. ................................ 1,344,844
2,000 Transwitch Corp.(1) ................................. 176,125
5,500 Trizetto Group, Inc. ................................ 116,875
3,700 Varian Semiconductor Equipment Associates, Inc.(1) .. 248,825
17,500 Verio, Inc. ......................................... 657,344
6,000 Verisign, Inc. (2)................................... 836,250
5,600 Viant Corp. ......................................... 128,800
3,800 Vignette Corp. ...................................... 183,113
7,600 WatchGuard Technologies, Inc. ....................... 366,225
-----------
36,419,112
-----------
See Notes to Financial Statements.
--83--
<PAGE>
------------------------
THE GLENMEDE FUND, INC.
------------------------
SMALL CAPITALIZATION GROWTH PORTFOLIO
SCHEDULE OF PORTFOLIO INVESTMENTS -- (CONTINUED)
APRIL 30, 2000 -- (UNAUDITED)
SHARES VALUE
------------ -----------
COMMON STOCKS -- (CONTINUED)
TECHNOLOGY SOFTWARE/SERVICES -- 6.3%
7,000 Allaire Corp.(1) ................................... $ 385,437
1,600 Certicom Corp. ..................................... 81,530
24,875 Forrester Research, Inc. ........................... 1,127,148
21,500 Hall Kinion & Associates, Inc. ..................... 528,094
6,500 Lifeminders.com, Inc. .............................. 288,437
11,600 Matrixone .......................................... 382,800
16,400 OTG Software, Inc. ................................. 360,800
14,400 Project Software & Development, Inc.(1) ............ 439,200
300 Register.com, Inc. ................................. 15,300
2,400 Saba Software, Inc.(2) ............................. 68,250
5,500 Selectica, Inc. .................................... 209,000
17,270 topjobs.net plc .................................... 105,779
12,200 Ulticom, Inc.(2) ................................... 402,600
3,500 Ventiv Health, Inc. ................................ 36,969
2,100 Versata, Inc. ...................................... 63,788
-----------
4,495,132
-----------
TELECOMMUNICATION EQUIPMENT -- 0.2%
200 I3 Mobile, Inc. .................................... 3,750
3,600 Netro Corp. ........................................ 155,250
-----------
159,000
-----------
TELECOMMUNICATIONS -- 1.7%
11,200 Mission Critical ................................... 403,200
13,900 Network Plus Corp. ................................. 264,100
5,600 Nuance Communications, Inc.(2) ..................... 169,050
5,100 Polycom, Inc. ...................................... 403,538
-----------
1,239,888
-----------
UTILITIES -- 0.9%
5,300 AT&T Canada(2) ..................................... 225,913
9,900 Independent Energy Holdings ........................ 386,100
-----------
612,013
-----------
TOTAL COMMON STOCKS
(Cost $74,951,366)................................ 66,663,001
-----------
See Notes to Financial Statements.
--84--
<PAGE>
------------------------
THE GLENMEDE FUND, INC.
------------------------
SMALL CAPITALIZATION GROWTH PORTFOLIO
SCHEDULE OF PORTFOLIO INVESTMENTS -- (CONCLUDED)
APRIL 30, 2000 -- (UNAUDITED)
FACE
AMOUNT VALUE
------------- -----------
REPURCHASE AGREEMENT -- 6.2%
$ 4,417,000 With Goldman Sachs & Co., 5.58% 5/1/00 (dated 4/28/00,
collateralized by $2,600,000 U.S. Treasury Bonds,
6.50% due 2/15/26, market value $2,548,424 and
$1,685,000 U.S. Treasury Bonds, 6.86% due 11/15/02,
market value $1,967,567), (Cost $4,417,000)....... $ 4,417,000
-----------
TOTAL INVESTMENTS (Cost $79,368,366).................... 100.1% $71,080,001
LIABILITIES IN EXCESS OF OTHER ASSETS................... (0.1) (94,238)
----- -----------
NET ASSETS.............................................. 100.0% $70,985,763
===== ===========
----------------
(1) Non-income producing security.
(2) Securities or partial securities on loan.
See Notes to Financial Statements.
--85--
<PAGE>
------------------------
THE GLENMEDE FUND, INC.
------------------------
CORE VALUE PORTFOLIO
SCHEDULE OF PORTFOLIO INVESTMENTS
APRIL 30, 2000 -- (UNAUDITED)
SHARES VALUE
------------- --------
COMMON STOCKS -- 99.4%
BASIC INDUSTRY -- 2.7%
1,700 Alcoa, Inc. ........................................ $ 110,287
1,275 Dow Chemical Co. ................................... 144,075
1,875 Du Pont (E.I.) de Nemours & Co. .................... 88,945
2,000 Rohm & Haas Co. .................................... 71,250
2,050 Weyerhaeuser Co. ................................... 109,547
----------
524,104
----------
BUSINESS SERVICES -- 2.5%
4,650 First Data Corp. ................................... 226,397
6,450 Sysco Corp. ........................................ 242,681
----------
469,078
----------
CAPITAL GOODS -- 1.0%
3,075 United Technologies Corp. .......................... 191,227
----------
CONSUMER PRODUCTS -- 5.0%
2,600 Anheuser-Busch Cos., Inc. .......................... 183,463
5,250 Coca-Cola Co. ...................................... 247,078
2,425 Kimberly-Clark Corp. ............................... 140,802
3,425 Procter & Gamble Co. ............................... 204,216
2,775 Quaker Oats Co. 180,895
----------
956,454
----------
CONSUMER SERVICES -- 5.9%
5,200 Cendant Corp.(1) ................................... 80,275
4,050 Disney (Walt) Co. .................................. 175,416
4,600 McDonald's Corp. ................................... 175,375
2,400 McGraw-Hill, Inc. .................................. 126,000
1,675 Target Corp. ....................................... 111,492
5,132 Time Warner, Inc. .................................. 461,559
----------
1,130,117
----------
ENERGY -- 3.4%
2,400 Chevron Corp. ...................................... 204,300
2,850 Coastal Corp. ...................................... 143,034
4,050 Schlumberger Ltd. .................................. 310,078
----------
657,412
----------
See Notes to Financial Statements.
--86--
<PAGE>
------------------------
THE GLENMEDE FUND, INC.
------------------------
CORE VALUE PORTFOLIO
SCHEDULE OF PORTFOLIO INVESTMENTS -- (CONTINUED)
APRIL 30, 2000 -- (UNAUDITED)
SHARES VALUE
------------- --------
COMMON STOCKS -- (CONTINUED)
ELECTRONIC TECHNOLOGY -- 1.7%
2,725 American Power Conversion Corp. .................... $ 96,227
2,525 SCI Systems, Inc.(1) ............................... 134,456
850 Teradyne, Inc.(1) .................................. 93,500
----------
324,183
----------
ENERGY MINERALS -- 3.5%
7,125 Exxon Mobil Corp. .................................. 553,523
2,100 Kerr-McGee Corp. ................................... 108,675
----------
662,198
----------
FINANCE -- 14.1%
2,550 American General Corp. ............................. 142,800
3,825 American International Group, Inc. ................. 419,555
4,225 Axa Financial, Inc. ................................ 137,841
4,700 Bank of America .................................... 230,300
2,650 Chase Manhattan Corp. .............................. 190,966
7,425 Citigroup, Inc. .................................... 441,323
3,375 Fannie Mae ......................................... 203,555
6,275 Fleet Boston Financial Corp. ....................... 222,370
2,600 Household International, Inc. ...................... 108,550
2,650 Lincoln National Corp. ............................. 92,253
1,825 Morgan, (J.P.) & Co. ............................... 234,284
2,850 Northern Trust Corp. ............................... 182,756
950 Providian Financial Corp. .......................... 83,659
----------
2,690,212
----------
HEALTH CARE -- 10.0%
4,450 American Home Products Corp. ....................... 250,034
4,700 Bristol-Myers Squibb Co. ........................... 246,456
6,825 Columbia/HCA Healthcare Corp. ...................... 194,086
3,675 Johnson & Johnson .................................. 303,188
4,775 Merck & Co, Inc. ................................... 331,863
5,150 Warner Lambert Co. ................................. 586,134
----------
1,911,761
----------
MANUFACTURING -- 8.4%
1,675 Cooper Industries, Inc. ............................ 57,473
4,350 Dover Corp. ........................................ 221,034
5,250 General Electric Co. ............................... 825,563
See Notes to Financial Statements.
--87--
<PAGE>
------------------------
THE GLENMEDE FUND, INC.
------------------------
CORE VALUE PORTFOLIO
SCHEDULE OF PORTFOLIO INVESTMENTS -- (CONTINUED)
APRIL 30, 2000 -- (UNAUDITED)
SHARES VALUE
------------- --------
COMMON STOCKS -- (CONTINUED)
MANUFACTURING -- (CONTINUED)
2,100 Minnesota Mining & Manufacturing Co. ............... $ 181,650
1,400 TRW, Inc. .......................................... 81,900
5,075 Tyco International Ltd. ............................ 233,133
----------
1,600,753
----------
RETAIL -- 3.8%
1,525 Home Depot, Inc. ................................... 85,495
3,375 Lowe's Cos., Inc. .................................. 167,063
4,300 TJX Cos., Inc. ..................................... 82,506
6,950 Wal-Mart Stores, Inc. .............................. 384,856
----------
719,920
----------
TECHNOLOGY -- 23.7%
2,700 Apple Computer, Inc.(1) ............................ 334,969
10,075 Cisco Systems, Inc.(1) ............................. 698,481
1,325 Computer Associates International, Inc. ............ 73,952
2,550 Dell Computer Corp.(1) ............................. 127,819
1,975 EMC Corp.(1) ....................................... 274,402
1,575 Hewlett-Packard Co. ................................ 212,625
5,175 Intel Corp. ........................................ 656,255
2,475 International Business Machines Corp. .............. 276,272
7,900 Microsoft Corp.(1) ................................. 551,025
1,825 Motorola, Inc. ..................................... 217,289
4,875 Oracle Systems Corp.(1) ............................ 389,695
1,100 Qualcomm, Inc. ..................................... 119,281
2,775 Sun Microsystems, Inc.(1) .......................... 255,127
1,550 Symantec Corp.(1) .................................. 96,778
1,525 Texas Instruments, Inc. ............................ 248,384
----------
4,532,354
----------
TELECOMMUNICATIONS -- 8.9%
2,975 Alltel Corp. ....................................... 198,209
6,200 AT&T Corp. ......................................... 289,463
720 AT&T Wireless Group ................................ 22,905
3,675 Bell Atlantic Corp. ................................ 217,744
4,550 MCI Worldcom, Inc.(1) .............................. 206,741
See Notes to Financial Statements.
--88--
<PAGE>
------------------------
THE GLENMEDE FUND, INC.
------------------------
CORE VALUE PORTFOLIO
SCHEDULE OF PORTFOLIO INVESTMENTS -- (CONCLUDED)
APRIL 30, 2000 -- (UNAUDITED)
SHARES VALUE
------------- --------
COMMON STOCKS -- (CONTINUED)
TELECOMMUNICATIONS -- (CONTINUED)
2,050 MediaOne Group(1) .................................. $ 155,031
150 Northern Telecom Ltd. .............................. 16,988
5,500 Sprint Corp. ....................................... 338,250
3,425 U.S. West Inc. ..................................... 243,817
-----------
1,689,148
-----------
TELECOMMUNICATIONS EQUIPMENT -- 3.0%
5,725 Lucent Technologies, Inc. .......................... 356,023
1,900 Nortel Networks Corp. .............................. 215,175
-----------
571,198
-----------
UTILITIES -- 1.8%
5,500 Columbia Energy Group .............................. 345,124
-----------
TOTAL COMMON STOCKS
(Cost $18,080,376)................................ 18,975,243
-----------
FACE
AMOUNT
------------
REPURCHASE AGREEMENT -- 1.3%
$243,000 With Goldman Sachs & Co., 5.58% 5/1/00 (dated 4/28/00,
collateralized by $215,000 U.S. Treasury Bonds,
6.86% due 11/15/02, market value $251,055),
(Cost $243,000)................................... 243,000
-----------
TOTAL INVESTMENTS (Cost $18,323,376).................... 100.7% $19,218,243
LIABILITIES IN EXCESS OF OTHER ASSETS................... (0.7) (125,124)
----- -----------
NET ASSETS.............................................. 100.0% $19,093,119
===== ===========
----------------
(1) Non-income producing security.
See Notes to Financial Statements.
--89--
<PAGE>
------------------------
THE GLENMEDE FUND, INC.
------------------------
NOTES TO FINANCIAL STATEMENTS
(UNAUDITED)
1. SIGNIFICANT ACCOUNTING POLICIES
The Glenmede Fund, Inc. (the "Fund") consists of twelve portfolios: the
Government Cash Portfolio, the Tax-Exempt Cash Portfolio, the Core Fixed Income
Portfolio, the Strategic Equity Portfolio (formerly the Tax Managed Equity
Portfolio), the Small Capitalization Value Portfolio (formerly the Small
Capitalization Equity Portfolio), the Large Cap Value Portfolio, the
International Portfolio, the Institutional International Portfolio, the Emerging
Markets Portfolio, the Global Equity Portfolio, the Small Capitalization Growth
Portfolio and the Core Value Portfolio (collectively the "Portfolios"). The Fund
was incorporated in the State of Maryland on June 30, 1988 and is registered
with the Securities and Exchange Commission under the Investment Company Act of
1940 as an open-end management investment company. Since January 1, 1998 the
Small Capitalization Value Portfolio has consisted of two classes of shares, the
Advisor Shares and the Institutional Shares.
The preparation of financial statements in conformity with accounting
principles generally accepted in the United States requires management to make
estimates and assumptions that affect the reported amounts of assets and
liabilities and disclosure of contingent assets and liabilities at the date of
the financial statements and the reported amounts of revenues and expenses
during the reporting period. Actual results could differ from those estimates.
The following is a summary of significant accounting policies consistently
followed by each Portfolio in the preparation of its financial statements.
PORTFOLIO VALUATION: Securities held by the Government Cash and Tax-Exempt
Cash Portfolios are valued by the "amortized cost" method of valuation, which
approximates market value. Amortized cost valuation involves valuing an
instrument at its cost initially and thereafter assuming a constant amortization
to maturity of any discount or premium, regardless of the effect of fluctuating
interest rates on the market value of the instrument.
Equity securities listed on a U.S. securities exchange for which market
quotations are readily available are valued at the last quoted sale price as of
the close of the exchange's regular trading hours on the day the valuation is
made. Securities listed on a foreign exchange and unlisted foreign securities
are valued at the last quoted sales price available before the time when assets
are valued. Price information on listed securities is taken from the exchange
where the security is primarily traded. Unlisted equity securities and listed
securities not traded on the valuation date for which market quotations are
readily available are valued at an amount that does not exceed the asked price
and is not less than the bid price.
Bonds and other fixed-income securities are valued according to the broadest
and most representative market, which is ordinarily the over-the-counter market,
at the most recent quoted bid price or when exchange valuations are used, at the
latest quoted sale price on the day of valuation. If there is no such reported
sale, the latest quoted bid price will be used. Bond and other fixed-income
securities may be valued on the basis of prices provided by a pricing service or
by using a matrix or formula, when the portfolio's investment advisor believes
such prices reflect the fair market value of such securities. Debt securities
purchased by non-money market portfolios with remaining maturities of 60 days or
less are valued at amortized cost. Securities with remaining maturities
exceeding 60 days are valued at their market or fair value until the 61st day
prior to maturity and are valued at amortized cost, thereafter.
--90--
<PAGE>
------------------------
THE GLENMEDE FUND, INC.
------------------------
NOTES TO FINANCIAL STATEMENTS -- (CONTINUED)
(UNAUDITED)
The value of other assets and securities for which no market quotations are
readily available is determined in good faith at fair value by the Board of
Directors.
In determining fair value, management considers all relevant qualitative and
quantitative information available. These factors are subject to change over
time and are reviewed periodically. The values assigned to fair value
investments are based on available information and do not necessarily represent
amounts that might ultimately be realized, since such amounts depend on future
developments inherent in long-term investments. Furthermore, because of the
inherent uncertainty of valuation, those estimated values may differ
significantly from the values that would have been used had a ready market of
the investments existed, and the differences could be material. On April 30,
2000, 0.7% of the net assets of the Emerging Markets Portfolio, totalling
$450,146, were considered illiquid. At April 30, 2000, the total value of fair
valued securities of the Emerging Markets Portfolio was $5,100,775 representing
8.1% of total investments.
REPURCHASE AGREEMENTS: Each Portfolio may engage in repurchase agreement
transactions. Under the terms of a typical repurchase agreement, the Portfolio
takes possession of an underlying debt obligation subject to an obligation of
the seller to repurchase, and the Portfolio to resell, the obligation at an
agreed-upon price and time, thereby determining the yield during the Portfolio's
holding period. This arrangement results in a fixed rate of return that is not
subject to market fluctuations during the Portfolio's holding period. The value
of the collateral at the time of execution must be at least equal to 102% of the
total amount of the repurchase obligations, including interest. In the event of
counterparty default, the Portfolio has the right to collect the collateral to
offset losses incurred. There is potential loss to the Portfolio in the event
the Portfolio is delayed or prevented from exercising its rights to dispose of
the collateral securities, including the risk of a possible decline in the value
of the underlying securities during the period while the Portfolio seeks to
assert its rights. The Portfolio's investment advisor, acting under the
supervision of the Board of Directors, reviews the value of the collateral and
the creditworthiness of those banks and dealers with which the Portfolio enters
into repurchase agreements to evaluate potential risks.
FORWARD FOREIGN EXCHANGE CONTRACTS: The International, Institutional
International, Emerging Markets and Global Equity Portfolios may enter into
forward foreign exchange contracts. Forward foreign exchange contracts are
valued at the forward rate and marked-to-market daily. The change in market
value is recorded by the Portfolio as an unrealized gain or loss. When the
contract is closed, the Portfolio records a realized gain or loss equal to the
difference between the value of the contract at the time it was opened and the
value at the time it was closed.
The use of forward foreign exchange contracts does not eliminate fluctuations
in the underlying prices of the Portfolio's securities, but it does establish a
rate of exchange that can be achieved in the future. Although forward foreign
exchange contracts limit the risk of loss due to a decline in the value of the
hedged currency, they also limit any potential gain that might result should the
value of the currency increase. In addition, the Portfolio could be exposed to
risks if the counterparties to the contracts are unable to meet the terms of
their contracts. There were no contracts open at April 30, 2000.
--91--
<PAGE>
------------------------
THE GLENMEDE FUND, INC.
------------------------
NOTES TO FINANCIAL STATEMENTS -- (CONTINUED)
(UNAUDITED)
FOREIGN CURRENCY: The books and records of each Portfolio are maintained in
United States (U.S.) dollars. Foreign currencies, investments and other assets
and liabilities are translated into U.S. dollars at the exchange rates
prevailing at the end of the period, and purchases and sales of investment
securities, income and expenses are translated on the respective dates of such
transactions. Unrealized gains and losses that result from changes in foreign
currency exchange rates have been included in the unrealized
appreciation/(depreciation) on foreign currency translations. Net realized
foreign currency gains and losses resulting from changes in exchange rates
include foreign currency gains and losses between trade date and settlement date
on investment securities transactions, foreign currency transactions and the
difference between the amounts of interest and dividends recorded on the books
of the Portfolio and the amount actually received. The portion of foreign
currency gains and losses related to fluctuation in exchange rates between the
purchase settlement date and subsequent sale trade date is included in realized
gains and losses on investment securities sold.
REVERSE REPURCHASE AGREEMENTS: The Government Cash Portfolio, the Core Fixed
Income Portfolio, the Global Equity Portfolio and the Emerging Markets Portfolio
may enter into reverse repurchase agreements. Under the terms of a reverse
repurchase agreement, the Portfolio sells a security subject to an obligation to
repurchase the security from the buyer at an agreed upon time and price thereby
determining the yield during the buyer's holding period. A reverse repurchase
agreement involves the risk that the market value of the collateral retained by
the Portfolio may decline below the price of the securities the Portfolio has
sold but is obligated to repurchase under the agreement. In the event the buyer
of securities under a repurchase agreement files for bankruptcy or becomes
insolvent, the Portfolio's use of the proceeds of the agreement may be
restricted pending a determination by the party, or its trustee or receiver,
whether to enforce the Portfolio's obligation to repurchase the securities. In
entering into reverse repurchase agreements, the Portfolio will maintain cash,
U.S. Government securities or other liquid high grade debt obligations at least
equal in value to its obligations with respect to reverse repurchase agreements.
Under normal circumstances the Government Cash Portfolio, the Core Fixed Income
Portfolio, the Global Equity Portfolio and the Emerging Markets Portfolio will
not enter into reverse repurchase agreements if entering into such agreements
would cause, at the time of entering into such agreements, more than one-third
of the value of its total assets to be subject to such agreements.
INTEREST-ONLY SECURITIES: The Core Fixed Income Portfolio may invest in
interest-only securities, which are the interest portions of "stripped"
securities. The holders of interest-only securities receive the interest on the
underlying security, but no principal payments. While the timing of the interest
receipts is known, the amount of interest to be received is not known.
COLLATERALIZED MORTGAGE OBLIGATIONS: The Core Fixed Income Portfolio may
invest in collateralized mortgage obligations, which are backed by a pool of
mortgages or mortgage-backed securities. The bonds that form collateralized
mortgage obligations are grouped into classes, which have different coupon rates
or maturities. The principal cash flows of the underlying pool of mortgages are
channeled sequentially into each class.
--92--
<PAGE>
------------------------
THE GLENMEDE FUND, INC.
------------------------
NOTES TO FINANCIAL STATEMENTS -- (CONTINUED)
(UNAUDITED)
TBA PURCHASE COMMITMENTS: The Core Fixed Income Portfolio may enter into TBA
(to be announced) purchase commitments to purchase securities for a fixed price
at a future date, typically not exceeding 45 days. TBA purchase commitments may
be considered securities in themselves, and involve a risk of loss if the value
of the security to be purchased declines prior to settlement date. This risk is
in addition to the risk of decline in the value of the Portfolio's other assets.
OPTION TRANSACTIONS: A call option gives the option holder the right to
purchase the underlying security at a specified price until a specified date. A
put option gives the option holder the right to sell the underlying security at
a specified price until a specified date. The risk in writing a covered call
option is that a fund may forgo the opportunity of profit if the market price of
the underlying security increases and the option is exercised. The risk in
writing a put option is that a fund may incur a loss if the market price of the
underlying security decreases and the option is exercised. In addition, there is
a risk a fund may not be able to enter into a closing transaction because of an
illiquid secondary market or, for over-the-counter options, because of the
counterparty's inability to perform.
SECURITIES TRANSACTIONS AND INVESTMENT INCOME: Securities transactions are
recorded as of the trade date. Realized gains and losses on investments sold are
computed on the basis of identified cost. Dividend income and distributions to
shareholders are recorded on the ex-dividend date. Dividend income for foreign
securities is recorded on the ex-dividend date except that certain dividends
from foreign securities are recorded as soon as the Portfolio is informed of the
ex-dividend date. Interest income is recorded on the accrual basis and includes
amortization of premiums and accretion of discounts when appropriate.
Securities purchased or sold on a when-issued or delayed-delivery basis may
be settled a month or more after the trade date. Interest income is not earned
or accrued until settlement date. Each Portfolio segregates assets with a
current value at least equal to the amount of its when-issued purchased
commitments. When issued purchase commitments involve a risk of loss if the
value of the security to be purchased declines prior to settlement date.
DIVIDENDS AND DISTRIBUTIONS TO SHAREHOLDERS: Dividends from net investment
income, if any, of the Government Cash and Tax-Exempt Cash Portfolios are
declared each day the Portfolio is open for business and are paid monthly.
Dividends from net investment income, if any, of the Core Fixed Income Portfolio
are declared and paid monthly. Dividends from net investment income, if any, of
the Strategic Equity, Small Capitalization Value, Large Cap Value,
International, Institutional International, Emerging Markets, Global Equity,
Small Capitalization Growth, and Core Value Portfolios are declared and paid
quarterly. The Portfolios distribute any net realized capital gains on an annual
basis. Additional distributions of net investment income and capital gains for
each Portfolio may be made at the discretion of the Board of Directors in order
to avoid a 4% nondeductible Federal excise tax. Income distributions and capital
gains distributions are determined in accordance with income tax regulations
which may differ from accounting principles generally accepted in the United
States. These differences are primarily due to differing treatments of income
and gains on various investment securities held by each Portfolio, timing
differences and differing characterization of distributions made by each
Portfolio.
--93--
<PAGE>
------------------------
THE GLENMEDE FUND, INC.
------------------------
NOTES TO FINANCIAL STATEMENTS -- (CONTINUED)
(UNAUDITED)
FEDERAL INCOME TAXES: Each Portfolio intends to qualify as a regulated
investment company by complying with the requirements of the Internal Revenue
Code applicable to regulated investment companies and by distributing
substantially all of its taxable income to its shareholders. Therefore, no
Federal income tax provision is required. The portfolios may periodically make
reclassifications among certain of their capital accounts as a result of
differences in the characterization and allocation of certain income and capital
gains determined annually in accordance with federal tax regulations which may
differ from accounting principles generally accepted in the United States.
2. INVESTMENT ADVISORY FEE, ADMINISTRATION FEE AND OTHER RELATED PARTY
TRANSACTIONS
The Small Capitalization Value Portfolio, the Institutional International
Portfolio, the Global Equity Portfolio and the Core Value Portfolio pay The
Glenmede Trust Company (the "Advisor") for their investment advisory services a
monthly fee at the annual rate of 0.55%, 0.75%, 0.70% and 0.45% respectively, of
the value of their average daily net assets. The Emerging Markets Portfolio pays
Pictet International Management Limited (the "Subadvisor") for its investment
advisory services a monthly fee at the annual rate of 0.50% of the value of its
average daily net assets. In addition, the Emerging Markets Portfolio also pays
the Advisor for its investment advisory services a monthly fee at the annual
rate of 0.75% of the value of its average daily net assets. The Small
Capitalization Growth Portfolio pays TCW Investment Management Company and
Winslow Capital Management, Inc. (each a "Subadvisor") at the annual rate of
0.60% of that portion of its average net assets each subadvisor manages. In
addition, the Small Capitalization Growth Portfolio pays the Advisor for its
investment advisory services a monthly fee at the annual rate of 0.25% of the
value of its average daily net assets. The Advisor does not receive a fee from
any remaining Portfolios for its investment advisory services. However, each
Portfolio (except the Small Capitalization Value, Small Capitalization Growth,
Institutional International, Emerging Markets and Global Equity Portfolios) pays
the Advisor a shareholder servicing fee at the annual rate of 0.05% of the value
of its average daily net assets. In addition, the Advisor Shares of the Small
Capitalization Value Portfolio and the Small Capitalization Growth Portfolio
each pay the Advisor a shareholder servicing fee at the annual rate of 0.25% of
the value of its average daily net assets. Institutional Shares of the Small
Capitalization Value Portfolio pays the Advisor a shareholder servicing fee at
the annual rate of 0.05% of the value of its average daily net assets.
For the Institutional International Portfolio, the Advisor has agreed to
waive its fees and/or reimburse expenses to the extent necessary to ensure that
the Portfolio's total operating expenses do not exceed 1.00% of the Portfolio's
average daily net assets. There were no waivers necessary for the period ended
April 30, 2000.
Investment Company Capital Corp. ("ICC") provides administrative, accounting
and transfer agent services to the Fund. The Fund pays ICC a fee based on the
combined aggregate average daily net assets of the Fund and the Glenmede
Portfolios, an investment company with the same officers, Board and service
providers as the Fund (collectively, the "Companies").
This fee is computed daily and paid monthly at the following annual rates:
0.12% of the first $100 million, 0.08% of the next $150 million, 0.04% of the
next $500 million and 0.03% of the amount in excess of $750 million. This fee is
allocated to each portfolio based on its relative net assets.
--94--
<PAGE>
------------------------
THE GLENMEDE FUND, INC.
------------------------
NOTES TO FINANCIAL STATEMENTS -- (CONTINUED)
(UNAUDITED)
The Fund pays each Board member an annual fee of $11,000 plus $1,250 for each
Board meeting attended and out-of-pocket expenses incurred in attending Board
meetings.
Expenses for the six month period ended April 30, 2000 include legal fees
paid to Drinker Biddle & Reath LLP. A partner of the law firm is Secretary of
the Fund.
3. PURCHASES AND SALES OF SECURITIES
For the six month period ended April 30, 2000, cost of purchases and proceeds
from sales of long-term U.S. Government securities were:
PORTFOLIO PURCHASES SALES
-------------- ------------ ------------
Core Fixed Income Portfolio................. $176,226,962 $224,744,950
For the six month period ended April 30, 2000, cost of purchases and proceeds
from sales of investment securities other than U.S. Government securities and
short-term securities were:
PORTFOLIO PURCHASES SALES
-------------- ------------ ------------
Strategic Equity Portfolio(1)............... $ 39,370,345 $ 39,801,567
Small Capitalization Value Portfolio(2)..... 78,755,137 123,108,452
Large Cap Value Portfolio................... 21,491,313 52,937,412
International Portfolio..................... 299,756,181 280,114,172
Institutional International Portfolio....... 135,153,952 70,974,656
Emerging Markets Portfolio.................. 46,093,200 68,402,212
Global Equity Portfolio..................... 7,117,156 7,568,772
Small Capitalization Growth Portfolio(3).... 95,540,821 17,020,287
Core Value Portfolio(4)..................... 19,134,611 1,103,193
On April 30, 2000 aggregate gross unrealized appreciation for all securities
in which there was an excess of value over tax cost and aggregate gross
unrealized depreciation for all securities in which there was an excess of tax
cost over value were as follows:
PORTFOLIO APPRECIATION DEPRECIATION
-------------- ------------ ------------
Core Fixed Income Portfolio................. $ 264,590 $ 6,570,554
Strategic Equity Portfolio(1)............... 69,271,273 314,497
Small Capitalization Value Portfolio(2)..... 63,902,548 21,034,917
Large Cap Value Portfolio................... 1,799,732 1,523,763
International Portfolio..................... 381,721,728 113,957,533
Institutional International Portfolio....... 28,802,279 13,806,680
Emerging Markets Portfolio.................. 12,798,093 8,133,927
Global Equity Portfolio..................... 4,914,672 2,321,358
Small Capitalization Growth Portfolio(3).... 5,672,118 13,960,483
Core Value Portfolio(4)..................... 1,384,070 489,202
----------------
(1) On February 28, 2000, Tax Managed Equity Portfolio changed its name to
Strategic Equity Portfolio.
(2) On February 28, 2000, Small Capitalization Equity Portfolio changed its name
to Small Capitalization Value Portfolio.
(3) Small Capitalization Growth Portfolio commenced operations on December 29,
1999.
(4) Core Value Portfolio commenced operations on February 28, 2000.
--95--
<PAGE>
------------------------
THE GLENMEDE FUND, INC.
------------------------
NOTES TO FINANCIAL STATEMENTS -- (CONTINUED)
(UNAUDITED)
4. COMMON STOCK
The Fund is authorized to issue and has classified 2,500,000,000 shares of
common stock with a $.001 par value. Since the Government Cash Portfolio and the
Tax-Exempt Cash Portfolio have sold shares, issued shares as reinvestments of
dividends, and redeemed shares only at a constant net asset value of $1.00 per
share, the number of shares represented by such sales, reinvestments and
redemptions is the same as the amounts shown below for such transactions.
Changes in the capital shares outstanding were as follows:
SIX MONTHS ENDED YEAR ENDED
4/30/00 10/31/99
--------------- ---------------
GOVERNMENT CASH PORTFOLIO:
Sold................................ $ 1,689,148,796 $ 3,829,650,837
Issued as reinvestment of dividends. 20,964 27,423
Redeemed............................ (1,703,594,595) (3,853,935,897)
--------------- ---------------
Net decrease....................... $ (14,424,835) $ (24,257,637)
=============== ===============
TAX-EXEMPT CASH PORTFOLIO:
Sold................................ $ 920,659,609 $ 1,648,162,346
Issued as reinvestment of dividends. 2,582 4,406
Redeemed............................ (882,041,910) (1,674,058,693)
--------------- ---------------
Net increase/(decrease)............. $ 38,620,281 $ (25,891,941)
=============== ===============
--96--
<PAGE>
------------------------
THE GLENMEDE FUND, INC.
------------------------
NOTES TO FINANCIAL STATEMENTS -- (CONTINUED)
(UNAUDITED)
<TABLE>
<CAPTION>
SIX MONTHS ENDED YEAR ENDED
4/30/00 10/31/99
------------------------ -------------------------
Shares Amount Shares Amount
---------- ------------ ---------- -------------
<S> <C> <C> <C> <C>
CORE FIXED INCOME PORTFOLIO:
Sold......................... 361,423 $ 3,612,849 6,375,969 $ 67,512,430
Issued as reinvestment of
dividends 42,616 425,939 43,563 447,015
Redeemed..................... (5,123,630) (50,970,235) (7,913,468) (82,206,587)
---------- ------------ ---------- -------------
Net decrease................. (4,719,591) $(46,931,447) (1,493,936) $ (14,247,142)
========== ============ ========== =============
STRATEGIC EQUITY PORTFOLIO:(1)
Sold......................... 321,111 $ 7,999,368 196,819 $ 4,518,923
Issued as reinvestment of
dividends 6,571 155,805 668,748 14,425,675
Redeemed..................... (374,868) (9,284,392) (1,687,116) (39,272,875)
---------- ------------ ---------- -------------
Net decrease................. (47,186) $ (1,129,219) (821,549) $ (20,328,277)
========== ============ ========== =============
SMALL CAPITALIZATION VALUE
PORTFOLIO (ADVISOR SHARES):(2)
Sold......................... 114,938 $ 1,857,681 3,451,858 $ 54,037,437
Issued as reinvestment of
dividends 6,372 108,454 10,063 152,921
Redeemed..................... (520,548) (8,529,765) (6,749,354) (103,504,553)
---------- ------------ ---------- -------------
Net decrease................. (399,238) $ (6,563,630) (3,287,433) $ (49,314,195)
========== ============ ========== =============
SMALL CAPITALIZATION VALUE
PORTFOLIO (INSTITUTIONAL SHARES):(2)
Sold......................... 186,671 $ 3,080,664 369,846 $ 5,719,285
Issued as reinvestment of
dividends 2,104 35,871 33,935 518,163
Redeemed..................... (2,607,543) (42,137,909) (581,803) (8,939,842)
---------- ------------ ---------- -------------
Net decrease................. (2,418,768) $(39,021,374) (178,022) $ (2,702,394)
========== ============ ========== =============
LARGE CAP VALUE PORTFOLIO:
Sold......................... 487,611 $ 5,208,769 519,388 $ 7,166,143
Issued as reinvestment of
dividends 6,944 74,748 1,019,528 11,056,770
Redeemed..................... (3,585,974) (38,273,250) (1,933,918) (26,672,374)
---------- ------------ ---------- -------------
Net decrease................. (3,091,419) $(32,989,733) (395,002) $ (8,449,461)
========== ============ ========== =============
INTERNATIONAL PORTFOLIO:
Sold......................... 5,728,699 $104,763,587 12,945,606 $ 227,225,854
Issued as reinvestment of
dividends 118,115 2,174,893 4,422,061 81,628,005
Redeemed..................... (3,002,227) (54,981,293) (5,860,128) (104,005,572)
---------- ------------ ---------- -------------
Net increase................. 2,844,587 $ 51,957,187 11,507,539 $ 204,848,287
========== ============ ========== =============
----------------
<FN>
(1) On February 28, 2000, Tax Managed Equity Portfolio changed its name to
Strategic Equity Portfolio.
(2) On February 28, 2000, Small Capitalization Equity Portfolio changed its name
to Small Capitalization Value Portfolio.
</FN>
</TABLE>
--97--
<PAGE>
------------------------
THE GLENMEDE FUND, INC.
------------------------
NOTES TO FINANCIAL STATEMENTS -- (CONTINUED)
(UNAUDITED)
<TABLE>
<CAPTION>
SIX MONTHS ENDED YEAR ENDED
4/30/00 10/31/99
------------------------ -------------------------
Shares Amount Shares Amount
---------- ------------ ---------- -------------
<S> <C> <C> <C> <C>
INSTITUTIONAL INTERNATIONAL PORTFOLIO:
Sold......................... 9,017,267 $162,736,364 6,580,973 $116,774,728
Issued as reinvestment of
dividends 46,554 844,021 543,619 9,599,868
Redeemed..................... 5,554,758 (100,205,582) (3,606,755) (65,045,210)
---------- ------------ ---------- ------------
Net increase................. 3,509,063 $ 63,374,803 3,517,837 $ 61,329,386
========== ============ ========== ============
EMERGING MARKETS PORTFOLIO:
Sold......................... 218,834 $ 2,284,900 1,006,846 $ 8,439,663
Issued as reinvestment of
dividends -- -- -- --
Redeemed..................... (2,105,780) (23,302,390) (1,687,967) (14,016,895)
---------- ------------ ---------- ------------
Net decrease................. (1,886,946) (21,017,490) (681,121) $ (5,577,232)
========== ============ ========== ============
GLOBAL EQUITY PORTFOLIO:
Sold......................... -- $ -- -- $ --
Issued as reinvestment of
dividends -- -- 109,322 1,221,115
Redeemed..................... -- -- -- --
Capital contribution......... -- (20,097) -- 105,524
---------- ------------ ---------- ------------
Net increase/(decrease)...... -- $ (20,097) 109,322 $ 1,326,639
========== ============ ========== ============
SMALL CAPITALIZATION GROWTH PORTFOLIO:(1)
Sold......................... 8,387,064 $ 84,508,654 -- $ --
Issued as reinvestment of
dividends -- -- -- --
Redeemed..................... (178,643) (1,733,211) -- --
---------- ------------ ---------- -------------
Net increase................. 8,208,421 $ 82,775,443 -- $ --
========== ============ ========== ============
CORE VALUE PORTFOLIO:(2)
Sold......................... 1,771,691 $ 18,148,223 -- $ --
Issued as reinvestment of
dividends 424 4,674 -- --
Redeemed..................... (358) (4,004) -- --
---------- ------------ ---------- ------------
Net increase................. 1,771,757 $ 18,148,893 -- $ --
========== ============ ========== ============
-----------------
<FN>
(1) Small Capitalization Growth Portfolio commenced operations on December 29,
1999.
(2) Core Value Portfolio commenced operations on February 28, 2000.
</FN>
</TABLE>
5. LENDING OF PORTFOLIO SECURITIES
Each Portfolio has the ability to lend its securities to brokers, dealers and
other financial organizations. Loans of portfolio securities by the Portfolios
are collateralized by cash and/or government securities that are maintained in
an amount at least equal to the current market value of the loaned securities.
Although risk is mitigated by the collateral, a Portfolio could experience a
delay in recovering its securities and a possible loss of income or value if the
borrower fails to return them.
--98--
<PAGE>
------------------------
THE GLENMEDE FUND, INC.
------------------------
NOTES TO FINANCIAL STATEMENTS -- (CONTINUED)
(UNAUDITED)
The Portfolios generated additional income by lending their securities to
approved brokers. On April 30, 2000, the following Portfolios had outstanding
loans of securities to certain approved brokers for which the Portfolios
received collateral:
% OF TOTAL
MARKET VALUE OF MARKET VALUE OF ASSETS
PORTFOLIO LOANED SECURITIES COLLATERAL ON LOAN
--------- ----------------- --------------- ----------
Core Fixed Income Portfolio... $ 25,437,213 $ 26,432,433 11.68%
Strategic Equity Portfolio(1,4) 2,475,000 2,385,000 1.39%
Small Capitalization Value
Portfolio(2)............... 9,233,125 9,744,400 3.16%
Large Cap Value Portfolio..... 1,470,795 1,559,100 6.05%
International Portfolio....... 310,182,045 323,888,287 19.87%
Institutional International
Portfolio.................. 39,818,294 42,002,475 16.87%
Emerging Markets Portfolio.... 1,558,835 1,639,500 2.42%
Global Equity Portfolio....... 2,366,348 2,455,980 7.95%
Small Capitalization Growth
Portfolio(3)............... 10,399,012 10,463,345 14.65%
6. CAPITAL LOSS CARRYFORWARD
On April 30, 2000, the following Portfolios had available capital loss
carryforwards to be utilized in the current period to offset future net capital
gains through the indicated expiration dates as follows:
EXPIRING EXPIRING EXPIRING EXPIRING
PORTFOLIO IN 2000 IN 2001 IN 2002 IN 2003
-------- -------- ---------- --------
Government Cash Portfolio....... $ -- $ 127 $ 1,000 $26,819
Tax-Exempt Cash Portfolio....... 18,922 19,079 8,905 27,815
Core Fixed Income Portfolio..... -- -- 7,273,798 --
Small Capitalization Value
Portfolio(2) -- -- -- --
Emerging Markets Portfolio...... -- -- -- --
EXPIRING EXPIRING EXPIRING EXPIRING
PORTFOLIO IN 2004 IN 2005 IN 2006 IN 2007
-------- ------- ----------- ----------
Government Cash Portfolio....... $ -- $ 7,815 $ -- $ --
Tax-Exempt Cash Portfolio....... 13 -- 7,168 --
Core Fixed Income Portfolio..... -- -- 1,869,325 --
Small Capitalization Value
Portfolio(2) -- -- -- 20,153,292
Emerging Markets Portfolio...... -- -- 25,319,729 --
---------------
(1) On February 28, 2000, Tax Managed Equity Portfolio changed its name to
Strategic Equity Portfolio.
(2) On February 28, 2000, Small Capitalization Equity Portfolio changed its name
to Small Capitalization Value Portfolio.
(3) Small Capitalization Growth Portfolio commenced operations on December 29,
1999.
(4) The collateral for the Strategic Equity Portfolio was increased to
$2,520,000 (101.89%) on May 1, 2000.
--99--
<PAGE>
------------------------
THE GLENMEDE FUND, INC.
------------------------
NOTES TO FINANCIAL STATEMENTS -- (CONTINUED)
(UNAUDITED)
7. FOREIGN SECURITIES
The Strategic Equity, Small Capitalization Value, Large Cap Value, Small
Capitalization Growth, Core Value, International, Institutional International,
Emerging Markets and Global Equity Portfolios may invest in foreign securities.
Investing in foreign companies and foreign governments involves special risks
and considerations not typically associated with investing in U.S. companies and
the U.S. government. These risks include evaluation of currencies and future
adverse political and economic developments. Moreover, securities of many
foreign companies and foreign governments and their markets may be less liquid
and their prices more volatile than those of securities of comparable U.S.
companies and the U.S. government. This is particularly true with respect to
emerging markets in developing countries.
8. NET ASSETS
On April 30, 2000, net assets consisted of:
GOVERNMENT TAX-EXEMPT CORE FIXED
CASH CASH INCOME
PORTFOLIO PORTFOLIO PORTFOLIO
------------ ------------ ------------
Par Value........................... $ 391,447 $ 388,735 $ 17,985
Paid in Capital in excess of
par value....................... 391,055,525 388,345,930 195,453,519
Undistributed net investment income. 71,402 -- 1,027,570
Accumulated net realized loss on
investments sold................. (35,761) (81,902) (11,646,301)
Net unrealized depreciation
on investments................... -- -- (6,305,964)
------------ ------------ ------------
Total Net Assets................. $391,482,613 $388,652,763 $178,546,809
============ ============ ============
SMALL LARGE
STRATEGIC CAPITALIZATION CAP
EQUITY VALUE VALUE
PORTFOLIO(1) PORTFOLIO(2) PORTFOLIO
------------ ------------ ------------
Par Value........................... $ 6,507 $ 15,927 $ 2,173
Paid in Capital in excess of
par value........................ 85,198,238 237,023,193 21,182,599
Undistributed net investment income. 149,683 11,593 43,765
Accumulated net realized gain on
investments sold ................ 17,915,748 1,739,333 1,242,107
Net unrealized appreciation
on investments .................. 68,956,776 42,867,631 275,969
------------ ------------ ------------
Total Net Assets................ $172,226,952 $281,657,677 $ 22,746,613
============ ============ ============
9. SUBSEQUENT EVENT
On May 30, 2000, the Global Equity Portfolio was liquidated.
----------------
(1) On February 28, 2000, Tax Managed Equity Portfolio changed its name to
Strategic Equity Portfolio.
(2) On February 28, 2000, Small Capitalization Equity Portfolio changed its name
to Small Capitalization Value Portfolio.
--100--
<PAGE>
------------------------
THE GLENMEDE FUND, INC.
------------------------
NOTES TO FINANCIAL STATEMENTS -- (CONTINUED)
(UNAUDITED)
INSTITUTIONAL EMERGING
INTERNATIONAL INTERNATIONAL MARKETS
PORTFOLIO PORTFOLIO PORTFOLIO
-------------- ------------ ------------
Par Value........................... $ 86,823 $ 13,385 $ 6,937
Paid in Capital in excess of
par value........................ 1,209,534,282 208,536,979 71,791,945
Distributions in excess of
net investment income............ (31,215,740) (3,029,606) (959,577)
Accumulated net realized
gain/(loss) on investments
sold, and foreign
currency transactions............ 115,414,084 15,589,338 (11,109,463)
Net unrealized appreciation
on investments and foreign
currency translations............ 266,740,359 14,834,401 4,656,969
-------------- ------------ ------------
Total Net Assets................ $1,560,559,808 $235,944,497 $ 64,386,811
============== ============ ============
SMALL
GLOBAL CAPITALIZATION CORE
EQUITY GROWTH VALUE
PORTFOLIO PORTFOLIO(1) PORTFOLIO(2)
----------- ------------- -----------
Par Value........................... $ 2,627 $ 8,208 $ 1,772
Paid in Capital in excess of
par value........................ 26,369,970 82,767,235 18,147,120
Undistributed (distributions in
excess of) net investment income. (413,524) (16,638) 401
Accumulated net realized
gain/(loss) on investments
sold, and foreign
currency transactions............ 1,214,531 (3,484,677) 48,958
Net unrealized appreciation/
(depreciation) on investments and
foreign currency translations.... 2,582,650 (8,288,365) 894,868
----------- ----------- -----------
Total Net Assets................ $29,756,254 $70,985,763 $19,093,119
=========== =========== ===========
---------------
(1) Small Capitalization Growth Portfolio commenced operations on December 29,
1999.
(2) Core Value Portfolio commenced its operations on February 28, 2000.
--101--
<PAGE>
------------------------
THE GLENMEDE FUND, INC.
------------------------
NOTES TO FINANCIAL STATEMENTS -- (CONCLUDED)
(UNAUDITED)
9. CALL AND PUT OPTIONS
Call and Put Options written by the Strategic Equity Portfolio (formerly Tax
Managed Equity Portfolio) and related premiums received during the period were
as follows:
CALLS PUTS
-------------------- --------------------
ACTUAL ACTUAL
-------------------- --------------------
CONTRACTS PREMIUMS CONTRACTS PREMIUMS
--------------------------------------------------------------------------------
Options outstanding October 31, 1999 850 375,337 1,250 350,313
Options written 520 995,137 160 89,767
Options purchased -- -- -- --
Options closed (750) (315,740) -- --
Options exercised -- -- -- --
Options expired (100) (59,598) (1,250) (350,313)
--------------------------------------------------------------------------------
Options outstanding April 30, 2000 520 995,136 160 89,767
--------------------------------------------------------------------------------
--102--
<PAGE>
------------------------
THE GLENMEDE PORTFOLIOS
------------------------
STATEMENTS OF OPERATIONS
FOR THE SIX MONTHS ENDED APRIL 30, 2000 -- (UNAUDITED)
MUNI NEW JERSEY
INTERMEDIATE MUNI
PORTFOLIO PORTFOLIO
--------- ---------
Investment Income:
Interest...................................... $ 420,282 $ 409,216
--------- ---------
Total investment income.................... 420,282 409,216
--------- ---------
Expenses:
Administration fee............................ 2,901 3,105
Shareholder servicing fee..................... 1,083 2,690
Shareholder reporting expense................. 1,176 2,151
Custodian fee................................. 546 455
Directors' fees and expenses.................. 1,096 1,566
Professional fees............................. 6,089 9,414
Registration and filing fees.................. 712 444
Other expenses................................ 337 124
--------- ---------
Total expenses.................................... 13,940 19,949
--------- ---------
Net investment income............................. 406,342 389,267
--------- ---------
Realized and unrealized gain/(loss) on investments:
Net realized loss on investments.............. (29,855) (14,581)
Net change in unrealized appreciation/
depreciation on investments ................ (89,993) (167,007)
--------- ---------
Net realized and unrealized loss
on investments................................. (119,848) (181,588)
--------- ---------
Net increase in net assets
resulting from operations...................... $ 286,494 $ 207,679
========= =========
See Notes to Financial Statements.
--103--
<PAGE>
------------------------
THE GLENMEDE PORTFOLIOS
------------------------
STATEMENTS OF CHANGES IN NET ASSETS
FOR THE SIX MONTHS ENDED APRIL 30, 2000 -- (UNAUDITED)
MUNI NEW JERSEY
INTERMEDIATE MUNI
PORTFOLIO PORTFOLIO
----------- ------------
Net investment income............................. $ 406,342 $ 389,267
Net realized loss on investments.................. (29,855) (14,581)
Net change in unrealized appreciation/depreciation
on investments................................. (89,993) (167,007)
------------ -----------
Net increase in net assets resulting from operations 286,494 207,679
Distributions to shareholders:
From net investment income.................... (408,887) (396,222)
Net decrease in net assets from capital share
transactions................................... (553,097) (1,171,429)
------------ -----------
Net decrease in net assets........................ (675,490) (1,359,972)
NET ASSETS:
Beginning of period............................... 16,526,364 17,952,667
------------ ----------
End of period..................................... $15,850,874 $16,592,695
=========== ===========
--------------------------------------------------------------------------------
FOR THE YEAR ENDED OCTOBER 31, 1999
MUNI NEW JERSEY
INTERMEDIATE MUNI
PORTFOLIO PORTFOLIO
----------- -----------
Net investment income............................. $ 866,861 $ 798,624
Net realized gain/(loss) on investments........... 44,865 (2,683)
Net change in unrealized appreciation/depreciation
on investments................................. (744,954) (769,009)
----------- -----------
Net increase in net assets resulting from operations 166,772 26,932
Distributions to shareholders:
From net investment income.................... (883,826) (790,076)
Net increase/(decrease) in net assets from capital
share transactions............................. (2,731,591) 1,224,295
----------- -----------
Net increase/(decrease) in net assets............. (3,448,645) 461,151
NET ASSETS:
Beginning of year................................. 19,975,009 17,491,516
----------- -----------
End of year....................................... $16,526,364 $17,952,667
=========== ===========
See Notes to Financial Statements.
--104--
<PAGE>
------------------------
THE GLENMEDE PORTFOLIOS
------------------------
FINANCIAL HIGHLIGHTS
FOR A SHARE OUTSTANDING THROUGHOUT EACH PERIOD
<TABLE>
<CAPTION>
MUNI INTERMEDIATE PORTFOLIO
SIX ---------------------------------------------------
MONTHS ENDED YEAR ENDED OCTOBER 31,
APRIL 30, ---------------------------------------------------
2000(3) 1999 1998 1997 1996 1995
------- ------- ------- ------- ------- -------
<S> <C> <C> <C> <C> <C> <C>
Net asset value, beginning
of period............. $ 10.14 $ 10.56 $ 10.40 $ 10.26 $ 10.32 $ 9.74
------- ------- ------- ------- ------- -------
Income from investment
operations:
Net investment income.... 0.25 0.51 0.51 0.52 0.53 0.53
Net realized and unrealized
gain/(loss) on investments (0.08) (0.42) 0.16 0.14 (0.06) 0.58
------- ------- ------- ------- ------- -------
Total from investment
operations............ 0.17 0.09 0.67 0.66 0.47 1.11
------- ------- ------- ------- ------- -------
Distributions to shareholders
from net investment income (0.25) (0.51) (0.51) (0.52) (0.53) (0.53)
------- ------- ------- ------- ------- -------
Net asset value, end
of period............. $ 10.06 $ 10.14 $ 10.56 $ 10.40 $ 10.26 $ 10.32
======= ======= ======= ======= ======= =======
Total Return(1).......... 1.76% 0.91% 6.63% 6.69% 4.67% 11.76%
======= ======= ======= ======= ======= =======
Ratios to average net assets/
Supplemental data:
Net assets, end of period
(in 000's)............ $15,851 $16,526 $19,975 $19,219 $18,471 $18,096
Ratio of operating expenses to
average net assets.... 0.17%(2) 0.20% 0.30% 0.34% 0.32% 0.28%
Ratio of net investment income
to average net assets. 5.07%(2) 4.90% 4.88% 5.09% 5.16% 5.23%
Portfolio turnover rate.. 5% 6% 11% 21% 44% 28%
---------------------
<FN>
(1) Total return represents aggregate total return for the period indicated.
(2) Annualized.
(3) Unaudited.
</FN>
</TABLE>
See Notes to Financial Statements.
--105--
<PAGE>
------------------------
THE GLENMEDE PORTFOLIOS
------------------------
FINANCIAL HIGHLIGHTS
FOR A SHARE OUTSTANDING THROUGHOUT EACH PERIOD
<TABLE>
<CAPTION>
SIX NEW JERSEY MUNI PORTFOLIO
MONTHS ENDED YEAR ENDED OCTOBER 31,
APRIL 30, ----------------------------------------------------
2000(3) 1999 1998 1997 1996 1995
-------- -------- -------- -------- ------- -------
<S> <C> <C> <C> <C> <C> <C>
Net asset value, beginning
of period............. $ 10.00 $ 10.43 $ 10.20 $ 9.97 $ 10.00 $ 9.22
-------- -------- -------- -------- ------- -------
Income from investment
operations:
Net investment income.... 0.23 0.44 0.44 0.44 0.44 0.41
Net realized and unrealized
gain/(loss) on investments (0.10) (0.43) 0.23 0.23 (0.03) 0.78
-------- -------- -------- -------- ------- -------
Total from investment
operations............ 0.13 0.01 0.67 0.67 0.41 1.19
-------- -------- -------- -------- ------- -------
Distributions to shareholders
from net investment income (0.23) (0.44) (0.44) (0.44) (0.44) (0.41)
-------- -------- -------- -------- ------- -------
Net asset value, end
of period............. $ 9.90 $ 10.00 $ 10.43 $ 10.20 $ 9.97 $ 10.00
======== ======== ======== ======== ======= =======
Total Return(1).......... 1.29% 0.08% 6.71% 6.90% 4.24% 13.25%
======== ======== ======== ======== ======= =======
Ratios to average net assets/
Supplemental data:
Net assets, end of period
(in 000's)............ $ 16,593 $ 17,953 $ 17,492 $ 12,117 $ 7,545 $ 5,932
Ratio of operating expenses to
average net assets.... 0.23%(2) 0.24% 0.30% 0.31% 0.24% 0.53%
Ratio of net investment income
to average net assets. 4.55%(2) 4.34% 4.33% 4.42% 4.56% 4.30%
Portfolio turnover rate.. 3% 10% 7% 19% 33% 12%
---------------------
<FN>
(1) Total return represents aggregate total return for the period indicated.
(2) Annualized.
(3) Unaudited.
</FN>
</TABLE>
See Notes to Financial Statements.
--106--
<PAGE>
------------------------
THE GLENMEDE PORTFOLIOS
------------------------
MUNI INTERMEDIATE PORTFOLIO
STATEMENT OF NET ASSETS
APRIL 30, 2000 -- (UNAUDITED)
FACE
AMOUNT VALUE
-------------- -------------
MUNICIPAL BONDS -- 97.9%
PENNSYLVANIA -- 97.9%
$ 150,000 Abington, PA, School District, Series A, General
Obligation Unlimited, (FGIC Insured), Prerefunded
11/15/05 @ $100,
5.25% due 5/15/08................................... $ 151,577
200,000 Allegheny County, PA, Hospital Development Authority
Revenue, University of Pittsburgh, Health Center,
Series A, (MBIA Insured),
5.30% due 4/1/08.................................... 198,918
300,000 Allegheny County, PA, Port Authority Special Revenue,
(MBIA Insured),
5.30% due 3/1/10.................................... 299,796
50,000 Allegheny County, PA, Re-development Authority
Revenue, (FHA Insured),
5.20% due 8/1/03.................................... 49,816
175,000 Allegheny County, PA, Series C, General Obligation
Unlimited, (MBIA Insured), Prerefunded 09/15/04 @ $100,
5.875% due 9/15/12.................................. 181,015
190,000 Beaver County, PA, Industrial Development Authority
Pollution Control Revenue, Ohio Edison County
Mansfield, (FGIC Insured),
7.10% due 6/1/18.................................... 194,248
120,000 Beaver County, PA, Industrial Development Authority
Pollution Control Revenue, Saint Joe Minerals
Corporation Project,
6.00% due 5/1/07.................................... 120,240
500,000 Beaver Falls, PA, Municipal Authority Water and
Hydroelectric Revenue, (FGIC Insured),
5.70% due 12/1/08................................... 506,600
100,000 Bucks County, PA, Community College Authority College
Building Revenue, Prerefunded 6/15/02 @ $100,
6.05% due 6/15/06................................... 102,423
325,000 Chester County, PA, General Obligation Unlimited,
5.40% due 12/15/06.................................. 327,746
375,000 Dauphin County, PA, General Authority Hospital Revenue,
(FGIC Insured),
6.125% due 7/1/10................................... 399,664
125,000 Dauphin County, PA, General Authority Revenue,
Mandatory Put 6/1/01 @ $100, (AMBAC Insured),
5.00% due 6/1/26.................................... 125,139
See Notes to Financial Statements.
--107--
<PAGE>
------------------------
THE GLENMEDE PORTFOLIOS
------------------------
MUNI INTERMEDIATE PORTFOLIO
STATEMENT OF NET ASSETS -- (CONTINUED)
APRIL 30, 2000 -- (UNAUDITED)
FACE
AMOUNT VALUE
-------------- -------------
MUNICIPAL BONDS -- (CONTINUED)
PENNSYLVANIA -- (CONTINUED)
$ 130,000 Dauphin County, PA, General Authority Revenue,
Mandatory Put 6/1/06 @ $100,
6.80% due 6/1/26.................................... $ 133,337
100,000 Dauphin County, PA, General Authority Revenue,
Mandatory Put 6/1/11 @ $100,
6.85% due 6/1/26.................................... 102,665
200,000 Dauphin County, PA, General Obligation Unlimited,
(MBIA Insured), Prerefunded 8/1/03 @ $100,
5.40% due 8/1/06.................................... 202,722
125,000 Dauphin County, PA, Series B, General Obligation
Unlimited, (MBIA Insured),
5.20% due 3/15/04................................... 125,163
600,000 Delaware River Joint Toll Bridge, Refunding, (FGIC
Insured),
6.15% due 7/1/04.................................... 614,202
Delaware River Port Authority, PA and NJ Delaware
River Bridges Revenue Escrowed to Maturity,
220,000 6.00% due 1/15/10................................... 226,175
175,000 6.50% due 1/15/11................................... 184,585
300,000 Downington, PA, Area School District, General
Obligation Unlimited,
5.50% due 2/1/10.................................... 304,272
100,000 Gettysburg, PA, Municipal Authority, County Guaranteed
Hospital Revenue, Gettysburg Hospital Project, (MBIA
County Guaranteed),
6.20% due 7/1/12.................................... 102,064
40,000 Lancaster, PA, Area Sewer Authority, Escrowed to
Maturity,
6.00% due 4/1/12.................................... 41,500
170,000 Lancaster, PA, Higher Education Authority College
Revenue, Franklin & Marshall, College Project,
(MBIA Insured),
6.55% due 4/15/07................................... 175,146
125,000 Lycoming County, PA, College Revenue, PA College of
Technology, (AMBAC Insured),
5.20% due 11/1/04................................... 125,034
100,000 Montgomery County, PA, Higher Education & Health
Authority Hospital Revenue, Abington Memorial
Hospital, Series A, (AMBAC Insured),
5.80% due 6/1/04.................................... 102,291
See Notes to Financial Statements.
--108--
<PAGE>
------------------------
THE GLENMEDE PORTFOLIOS
------------------------
MUNI INTERMEDIATE PORTFOLIO
STATEMENT OF NET ASSETS -- (CONTINUED)
APRIL 30, 2000 -- (UNAUDITED)
FACE
AMOUNT VALUE
-------------- ----------
MUNICIPAL BONDS -- (CONTINUED)
PENNSYLVANIA -- (CONTINUED)
$ 110,000 Montgomery County, PA, Industrial Development
Authority Revenue,
7.50% due 1/1/12.................................... $ 112,823
195,000 Montgomery County, PA, Private School Revenue,
Friends' Central School Project,
4.00% due 3/1/04.................................... 182,163
100,000 New Kensington, PA, General Obligation Unlimited,
(FGIC Insured),
5.625% due 10/1/04.................................. 100,052
200,000 North East, PA, School District, Refunding, (AMBAC
Insured),
6.00% due 9/15/10................................... 204,018
150,000 North Pocono, PA, School District, General Obligation
Unlimited, (FGIC Insured),
5.25% due 7/15/06................................... 150,162
425,000 Northampton County, PA, Higher Education Authority
Revenue--Lehigh University,
5.25% due 11/15/09.................................. 424,358
210,000 Northampton County, PA, Industrial Development
Authority, Revenue, Optional Put 8/1/07 @ $100,
4.75% due 8/1/15.................................... 198,855
315,000 Northampton, PA, Bucks County Municipal Authority
Sewer Revenue,
6.20% due 11/1/13................................... 333,380
200,000 Pennridge, PA, School District, Series A, General
Obligation Unlimited, (AMBAC Insured),
6.25% due 2/15/04................................... 204,366
Pennsylvania Housing Finance Agency, Refunding,
Rental Housing,
350,000 5.25% due 7/1/04.................................... 349,454
500,000 5.45% due 7/1/06.................................... 500,585
100,000 6.25% due 7/1/07.................................... 102,792
330,000 Pennsylvania Housing Finance Agency, Single Family
Mortgage, Series 38,
5.50% due 4/1/05.................................... 330,125
300,000 Pennsylvania Intergovernmental Co-op Authority,
Special Tax Revenue, City of Philadelphia Funding
Program, Escrowed to Maturity, (FGIC Insured),
6.00% due 6/15/02................................... 305,175
See Notes to Financial Statements.
--109--
<PAGE>
------------------------
THE GLENMEDE PORTFOLIOS
------------------------
MUNI INTERMEDIATE PORTFOLIO
STATEMENT OF NET ASSETS -- (CONTINUED)
APRIL 30, 2000 -- (UNAUDITED)
FACE
AMOUNT VALUE
-------------- ----------
MUNICIPAL BONDS -- (CONTINUED)
PENNSYLVANIA -- (CONTINUED)
$ 200,000 Pennsylvania Intergovernmental Co-op Authority,
Special Tax Revenue, City of Philadelphia Funding
Program, (FGIC Insured),
5.25% due 6/15/06................................... $ 201,766
1,000,000 Pennsylvania State Finance Authority Revenue,
Refunding, Municipal Capital Improvements Program,
6.60% due 11/1/09................................... 1,053,820
220,000 Pennsylvania State Higher Educational Facilities
Authority College and University Revenues, College
of Pharmacy, (MBIA Insured),
5.25% due 11/1/09................................... 219,349
205,000 Pennsylvania State Higher Educational Facilities
Authority College and University Revenues, Drexel
University Project, (MBIA Insured),
4.55% due 5/1/07.................................... 193,936
140,000 Pennsylvania State Higher Educational Facilities
Authority College and University Revenues, Drexel
University Project, Prerefunded 8/1/01 @ 100,
5.65% due 2/1/09.................................... 141,715
250,000 Pennsylvania State Higher Educational Facilities
Authority College and University Revenues,
University of Pennsylvania,
5.60% due 9/1/10.................................... 253,315
250,000 Pennsylvania State, First Series, General Obligation
Unlimited,
6.375% due 9/15/12.................................. 259,133
150,000 Pennsylvania State, First Series, General Obligation
Unlimited, (AMBAC Insured),
5.00% due 4/15/09................................... 147,237
5,000 Perkiomen Valley School Authority, PA, School Revenue,
Escrowed to Maturity, (MBIA Insured),
6.40% due 12/1/02................................... 5,078
100,000 Philadelphia, PA, Gas Works Revenue, (FSA Insured),
5.50% due 7/1/04.................................... 101,667
320,000 Philadelphia, PA, Hospital Revenue, Escrowed to
Maturity, (FGIC Insured),
5.875% due 7/1/08................................... 320,800
100,000 Philadelphia, PA, Hospitals and Higher Educational
Facilities Authority, Hospital Revenue, Children's
Hospital Philadelphia, Series A,
5.00% due 2/15/02................................... 99,535
See Notes to Financial Statements.
--110--
<PAGE>
------------------------
THE GLENMEDE PORTFOLIOS
------------------------
MUNI INTERMEDIATE PORTFOLIO
STATEMENT OF NET ASSETS -- (CONTINUED)
APRIL 30, 2000 -- (UNAUDITED)
FACE
AMOUNT VALUE
-------------- ----------
MUNICIPAL BONDS -- (CONTINUED)
PENNSYLVANIA -- (CONTINUED)
$ 225,000 Philadelphia, PA, Municipal Authority Revenue,
Refunding -- Lease -- Series C, (FGIC Insured),
5.00% due 4/1/07.................................... $ 222,145
Pittsburgh, PA, Urban Redevelopment Authority Mortgage
Revenue, Series D,
255,000 5.75% due 10/1/07................................... 256,823
150,000 6.20% due 4/1/11.................................... 151,203
155,000 6.20% due 10/1/11................................... 156,243
235,000 Ringgold, PA, School District, Escrowed to Maturity,
6.20% due 1/15/13................................... 246,642
250,000 Sayre, PA, Health Care Facilities Authority Revenue,
(AMBAC Insured),
6.10% due 7/1/02.................................... 255,590
Seneca Valley, PA, School District, Series B, General
Obligation Unlimited, (FGIC Insured),
100,000 5.70% due 7/1/06.................................... 101,130
225,000 5.80% due 7/1/10.................................... 227,216
35,000 Southeastern Pennsylvania Transportation Authority,
PA, Lease Revenue,
5.75% due 12/1/04................................... 35,031
125,000 Southeastern Pennsylvania Transportation Authority,
PA, Special Revenue, (FGIC Insured),
5.05% due 3/1/05.................................... 124,795
Southeastern Pennsylvania Transportation Authority,
Revenue,
110,000 6.00% due 6/1/00.................................... 110,157
285,000 6.00% due 6/1/01.................................... 289,152
250,000 State Public School Building Authority, PA, School
Revenue, Hazleton Area School District, (FGIC
Insured),
6.50% due 3/1/08.................................... 253,985
15,000 Swarthmore Borough, PA, College Revenue, Prerefunded,
9/15/02 @ $102,
6.10% due 9/15/07................................... 15,701
85,000 Swarthmore Borough, PA, College Revenue, Unrefunded
Balance,
6.10% due 9/15/07................................... 88,057
120,000 Swatara Township Authority, PA, Sewer Revenue,
Escrowed to Maturity, (MBIA Insured),
6.15% due 5/1/07.................................... 127,274
See Notes to Financial Statements.
--111--
<PAGE>
------------------------
THE GLENMEDE PORTFOLIOS
------------------------
MUNI INTERMEDIATE PORTFOLIO
STATEMENT OF NET ASSETS -- (CONCLUDED)
APRIL 30, 2000 -- (UNAUDITED)
FACE
AMOUNT VALUE
-------------- ----------
MUNICIPAL BONDS -- (CONTINUED)
PENNSYLVANIA -- (CONTINUED)
$ 125,000 Unionville-Chadds Ford, PA, School District, General
Obligation Unlimited, Prerefunded 6/1/03 @ $100,
(State Aid Withholding),
5.50% due 6/1/08.................................... $ 126,799
400,000 University of Pittsburgh, PA, Refunded Series B,
5.50% due 6/1/09.................................... 407,136
125,000 Wallingford -- Swarthmore, PA, School District,
Series C, (FSA State Aid Withholding),
5.00% due 5/15/09................................... 122,329
325,000 Wayne County, PA, Hospital and Health Facilities
Authority, County Guaranteed, Hospital Revenue,
Wayne Memorial Hospital Project, (MBIA Insured),
5.05% due 7/1/03.................................... 324,318
100,000 Wilkinsburg, PA, Joint Water Authority, Water Revenue,
Series A, Prerefunded 8/15/02 @ $100, (AMBAC Insured),
6.10% due 8/15/04................................... 102,787
10,000 William Penn, PA, School District, General Obligation
Unlimited, Escrowed to Maturity, (State Aid
Withholding),
8.00% due 8/1/00.................................... 10,086
170,000 York County, PA, Industrial Development Authority,
Industrial Development Revenue, Refunding, Stanley
Works Project,
6.25% due 7/1/02.................................... 173,752
-----------
TOTAL MUNICIPAL BONDS
(Cost $15,570,827).................................. 15,520,348
-----------
TOTAL INVESTMENTS (Cost $15,570,827)...................... 97.9% $15,520,348
OTHER ASSETS IN EXCESS OF LIABILITIES .................... 2.1 330,526
----- -----------
NET ASSETS................................................ 100.0% $15,850,874
===== ===========
NET ASSET VALUE ($15,850,874 DIVIDED BY 1,575,420
SHARES OUTSTANDING)..................................... $ 10.06
============
Abbreviations:
AMBAC -- American Municipal Bond Assurance Corporation
FGIC -- Federal Guaranty Insurance Corporation
FHA -- Federal Housing Administration
FSA -- Financial Security Assurance Inc.
MBIA -- Municipal Bond Investors Assurance
See Notes to Financial Statements.
--112--
<PAGE>
------------------------
THE GLENMEDE PORTFOLIOS
------------------------
NEW JERSEY MUNI PORTFOLIO
STATEMENT OF NET ASSETS
APRIL 30, 2000 -- (UNAUDITED)
FACE
AMOUNT VALUE
-------------- ----------
MUNICIPAL BONDS -- 99.3%
$100,000 Asbury Park, NJ, Board of Education, General
Obligation Unlimited, (MBIA Insured),
5.55% due 2/1/07.................................... $ 102,594
100,000 Beach Haven, NJ, General Obligation Unlimited,
(MBIA Insured),
5.70% due 8/15/03................................... 102,792
70,000 Belvidere, NJ, General Obligation Unlimited, (AMBAC
Insured),
4.50% due 12/1/00................................... 70,107
250,000 Bergen County, NJ, General Improvement, General
Obligation Unlimited,
4.00% due 11/15/05.................................. 234,892
100,000 Bergen County, NJ, Utilities Authority, Water
Pollution Control Revenue, Series B, (FGIC Insured),
5.20% due 12/15/00.................................. 100,601
400,000 Black Horse Pike, NJ, Regional School District,
General Obligation Unlimited, (FGIC Insured),
4.75% due 12/1/04................................... 396,732
Burlington County, NJ, General Improvement, General
Obligation Unlimited,
100,000 5.20% due 9/15/02................................... 100,951
500,000 4.85% due 7/15/06................................... 492,020
100,000 Burlington County, NJ, General Obligation Unlimited,
5.20% due 10/1/04................................... 100,939
150,000 Cape May County, NJ, General Improvements, General
Obligation Unlimited, (AMBAC Insured),
5.35% due 8/1/04.................................... 152,496
200,000 Cape May County, NJ, Municipal Utilities Authority,
Sewer Revenue, Refunding, (AMBAC Insured),
5.60% due 1/1/05.................................... 204,598
100,000 Casino Reinvestment Development Authority, NJ, Parking
Fee Revenue, Series A, (FSA Insured),
5.00% due 10/1/04................................... 100,035
150,000 Cherry Hill Township, NJ, General Obligation Unlimited,
5.125% due 7/15/10.................................. 149,340
Delaware River Joint Toll Bridge, Commonwealth of
Pennsylvania Bridge Revenue, Refunding, (FGIC
Insured),
100,000 6.15% due 7/1/04.................................... 102,367
200,000 6.25% due 7/1/12.................................... 204,744
See Notes to Financial Statements.
--113--
<PAGE>
------------------------
THE GLENMEDE PORTFOLIOS
------------------------
NEW JERSEY MUNI PORTFOLIO
STATEMENT OF NET ASSETS -- (CONTINUED)
APRIL 30, 2000 -- (UNAUDITED)
FACE
AMOUNT VALUE
-------------- ----------
MUNICIPAL BONDS -- (CONTINUED)
Delaware River Port Authority, PA, NJ, and DE River
Bridges Revenue, Escrowed to Maturity,
$275,000 5.625% due 1/15/09.................................. $ 277,194
270,000 6.00% due 1/15/10................................... 277,579
140,000 6.50% due 1/15/11................................... 147,668
250,000 Evesham Township, NJ, Board of Education, General
Obligation Unlimited, (FGIC Insured),
4.60% due 3/1/07.................................... 241,607
100,000 Gloucester County, NJ, Improvement Authority Revenue,
County Library Lease Project,
5.20% due 12/15/05.................................. 100,284
250,000 Hamilton Township, Atlantic City, NJ, General
Obligation Unlimited, (FGIC Insured),
4.25% due 10/1/06................................... 234,557
200,000 Hasbrouck Heights, NJ, General Improvements, General
Obligation Unlimited,
5.25% due 9/1/04.................................... 202,772
110,000 High Bridge, NJ, Regional Board of Education, General
Obligation Unlimited, (FSA Insured),
5.40% due 2/15/09................................... 111,988
250,000 Hudson County, NJ, Certificates of Participation,
Refunding--Correctional Facilities, (MBIA Insured),
6.20% due 6/1/03.................................... 258,662
100,000 Hunterdon County, NJ, General Obligation Unlimited,
4.20% due 12/15/04.................................. 96,109
200,000 Hunterdon, NJ, Central Regional High School District,
General Obligation Unlimited, (FSA Insured),
5.25% due 5/1/06.................................... 202,360
130,000 Jefferson Township, NJ, General Obligation Unlimited,
Sewer Improvements, (AMBAC Insured),
5.45% due 10/1/09................................... 131,963
250,000 Jersey City, NJ, Municipal Utilities Authority Sewer
Revenue, (FSA Insured),
4.00% due 12/1/06................................... 230,270
200,000 Jersey City, NJ, Municipal Utilities Authority Water
Revenue, (FSA Insured),
4.75% due 4/1/04.................................... 198,300
250,000 Jersey City, NJ, School Improvements, General
Obligation Unlimited, (MBIA Insured),
5.50% due 3/15/06................................... 255,010
See Notes to Financial Statements.
--114--
<PAGE>
------------------------
THE GLENMEDE PORTFOLIOS
------------------------
NEW JERSEY MUNI PORTFOLIO
STATEMENT OF NET ASSETS -- (CONTINUED)
APRIL 30, 2000 -- (UNAUDITED)
FACE
AMOUNT VALUE
-------------- ----------
MUNICIPAL BONDS -- (CONTINUED)
$100,000 Lyndhurst Township, NJ, General Improvements, General
Obligation Unlimited, (FGIC Insured),
5.50% due 10/1/05................................... $ 102,537
105,000 Manalapan-Englishtown, NJ, Regional Board of Education,
General Obligation Unlimited, (School Board Residual
Fund Insured),
5.00% due 5/1/07.................................... 104,387
150,000 Mercer County, NJ, Improvement Authority Revenue,
Refunding -- Government Leasing, (County
Guaranteed -- A),
5.40% due 12/1/05................................... 152,181
100,000 Mercer County, NJ, Improvement Authority Revenue,
Refunding -- Solid Waste, (County Guaranteed --
Series 97),
5.20% due 9/15/08................................... 100,263
145,000 Middlesex County, NJ, Improvement Authority Revenue,
5.45% due 9/15/11................................... 146,130
50,000 Monmouth County, NJ, General Improvements Senior
Lien -- Series A, General Obligation Unlimited,
4.50% due 8/1/08.................................... 47,349
50,000 Moorestown Township, NJ, General Obligation Unlimited,
(MBIA Insured),
4.00% due 9/1/00.................................... 49,954
200,000 Morris Township, NJ, School District, General
Obligation Unlimited,(School Board Residual Fund
Insured),
5.625% due 4/1/06................................... 205,828
100,000 Mount Holly, NJ, Municipal Utility Authority Sewer
Revenue, (MBIA Insured),
5.00% due 12/1/13................................... 95,345
100,000 New Jersey Building Authority Revenue, Refunding,
General Improvement,
4.50% due 6/15/04................................... 97,865
250,000 New Jersey Economic Development Authority, Burlington
Coat Factory, Refunding,
5.60% due 9/1/05.................................... 252,967
New Jersey Economic Development Authority, Market
Transition Facilities Revenue, Senior Lien --
Series A, (MBIA Insured),
200,000 5.70% due 7/1/05.................................... 205,932
125,000 5.75% due 7/1/06.................................... 129,247
100,000 New Jersey Economic Development Authority, Parking
Facility Improvements, Elizabeth Development Project,
(FGIC Insured),
5.20% due 10/15/08.................................. 100,133
See Notes to Financial Statements.
--115--
<PAGE>
------------------------
THE GLENMEDE PORTFOLIOS
------------------------
NEW JERSEY MUNI PORTFOLIO
STATEMENT OF NET ASSETS -- (CONTINUED)
APRIL 30, 2000 -- (UNAUDITED)
FACE
AMOUNT VALUE
-------------- ----------
MUNICIPAL BONDS -- (CONTINUED)
$200,000 New Jersey Enviromental Infrastructure, Sewer
Improvements,
4.25% due 9/1/07.................................... $ 186,544
100,000 New Jersey Health Care Facilities Finance Authority
Revenue, St. Joseph's Hospital, Refunding,
5.00% due 7/1/03.................................... 99,935
400,000 New Jersey Health Care Facilities Finance Authority
Revenue, Allegany Health, (MBIA Insured), Escrowed
to Maturity,
4.80% due 7/1/05.................................... 395,288
200,000 New Jersey Health Care Facilities Finance Authority
Revenue, Kennedy Health System Series-- A, (MBIA
Insured),
5.00% due 7/1/09.................................... 195,244
75,000 New Jersey Health Care Facilities Finance Authority
Revenue, Refunding, Mountainside Hospital, (MBIA
Insured),
4.60% due 7/1/00.................................... 75,031
125,000 New Jersey State Educational Facilities Authority
Revenue, Higher Education Equipment Leasing Fund--
Series A, (MBIA Insured),
5.00% due 9/1/00.................................... 125,294
New Jersey State Educational Facilities Authority
Revenue, Higher Education Facilities Trust Fund --
Series A, (AMBAC Insured),
100,000 5.125% due 9/1/02................................... 100,705
100,000 5.125% due 9/1/08................................... 99,624
350,000 5.125% due 9/1/07................................... 349,657
225,000 New Jersey State Educational Facilities Authority
Revenue, Princeton University -- Series A,
5.50% due 7/1/05.................................... 229,259
95,000 New Jersey State Educational Facilities Authority
Revenue, Princeton University -- Series F,
4.375% due 7/1/08................................... 88,685
200,000 New Jersey State Educational Facilities Authority
Revenue, Higher Education Technology -- Series A,
4.40% due 9/1/06.................................... 190,420
100,000 New Jersey State Educational Facilities Authority
Revenue, Refunding-- Ramapo College-- Series E,
(MBIA Insured),
4.80% due 7/1/01.................................... 100,209
250,000 New Jersey State Highway Authority Garden State
Parkway General Revenue, Highway Revenue Tolls,
(AMBAC Insured),
6.15% due 1/1/07.................................... 258,252
150,000 New Jersey State Housing and Mortgage Finance Agency
Revenue, Home Buyer-- Series P, (MBIA Insured),
5.05% due 4/1/07.................................... 148,321
See Notes to Financial Statements.
--116--
<PAGE>
------------------------
THE GLENMEDE PORTFOLIOS
------------------------
NEW JERSEY MUNI PORTFOLIO
STATEMENT OF NET ASSETS -- (CONTINUED)
APRIL 30, 2000 -- (UNAUDITED)
FACE
AMOUNT VALUE
-------------- ----------
MUNICIPAL BONDS -- (CONTINUED)
$200,000 New Jersey State Housing and Mortgage Finance Agency
Revenue, Local or Guaranteed Housing -- Series A,
(HUD Section 8),
6.50% due 11/1/03................................... $ 206,816
250,000 New Jersey State Housing and Mortgage Financial Agency
Revenue, Multi Family Housing -- Series B, (FSA
Insured),
5.75% due 11/1/11................................... 251,658
50,000 New Jersey State Housing Finance Agency Revenue,
Refunding, (HUD Section 236),
5.65% due 11/1/00................................... 50,042
165,000 New Jersey State Transportation Trust Fund Authority,
Transportation System -- Series A, (MBIA Insured),
4.75% due 12/15/07.................................. 160,161
300,000 New Jersey State Transportation Trust Fund Authority,
Transportation System -- Series A,
5.00% due 6/15/12................................... 288,111
150,000 New Jersey State Transportation Trust Fund Authority,
Transportation System -- Series A, Escrowed to Maturity,
5.30% due 12/15/01.................................. 151,430
200,000 New Jersey State Transportation Trust Fund Authority,
Transportation System -- Series B, (MBIA Insured),
5.00% due 6/15/04................................... 200,224
250,000 New Jersey State Turnpike Authority, Turnpike Revenue,
Series A, (MBIA Insured),
5.90% due 1/1/04.................................... 257,618
125,000 New Jersey Wastewater Treatment Trust -- Refunding --
Series C, (MBIA Insured),
6.25% due 5/15/03................................... 129,701
5,000 New Jersey Wastewater Treatment Trust -- Unrefunded
Balance -- Series A,
6.00% due 7/1/09.................................... 5,130
140,000 New Jersey Wastewater Treatment Trust -- Series A,
Prerefunded, 7/1/01 @ $102,
6.00% due 7/1/09.................................... 144,893
130,000 North Brunswick Township, NJ, General Obligation
Unlimited, (FGIC Insured),
4.25% due 7/1/09.................................... 118,669
100,000 Ocean County, NJ, General Improvement, General
Obligation Unlimited, Prerefunded 7/1/04 @ $102,
5.65% due 7/1/06.................................... 103,195
See Notes to Financial Statements.
--117--
<PAGE>
------------------------
THE GLENMEDE PORTFOLIOS
------------------------
NEW JERSEY MUNI PORTFOLIO
STATEMENT OF NET ASSETS -- (CONTINUED)
APRIL 30, 2000 -- (UNAUDITED)
FACE
AMOUNT VALUE
-------------- ----------
MUNICIPAL BONDS -- (CONTINUED)
$250,000 Ocean County, NJ, General Obligation Unlimited,
4.875% due 12/15/09................................. $ 242,235
85,000 Ocean County, NJ, Utility Authority, Wastewater
Revenue, Refunding,
5.00% due 1/1/05.................................... 84,924
250,000 Ocean Township, NJ, Sewer Authority, Revenue Bonds --
Series B, (FGIC Insured),
6.00% due 12/1/07................................... 258,680
200,000 Park Ridge, NJ, General Obligation Unlimited,
5.60% due 11/1/03................................... 205,368
100,000 Passaic County, NJ, General Obligation Unlimited,
Refunding, (MBIA Insured),
4.625% due 9/1/09................................... 94,823
100,000 Passaic Valley, NJ, General Obligation Unlimited,
(FGIC Insured),
5.125% due 9/1/08................................... 99,959
270,000 Passaic Valley, NJ, General Obligation Unlimited,
(FSA Insured),
5.00% due 11/15/04.................................. 269,560
100,000 Passaic Valley, NJ, Sewer Commission, Sewer System --
Series D, (AMBAC Insured),
5.75% due 12/1/09................................... 101,889
130,000 Perth Amboy, NJ, Board of Education, General Obligation
Unlimited, (MBIA Insured), Prerefunded 3/1/04 @ 102,
6.20% due 8/1/06.................................... 138,167
60,000 Pleasantville, NJ, Sewer Utility, (MBIA Insured),
7.875% due 10/15/00................................. 60,170
150,000 Ridgefield Park, NJ, Board of Education, General
Obligation Unlimited, (FSA Insured),
4.70% due 7/1/06.................................... 148,251
500,000 Ridgewood, NJ, General Obligation Unlimited,
5.20% due 10/1/08................................... 502,690
125,000 Rutgers State University, NJ, Refunding -- Series S,
5.25% due 5/1/07.................................... 125,600
South Brunswick Township, NJ, General Obligation
Unlimited, (MBIA Insured),
135,000 5.25% due 10/1/03................................... 136,596
130,000 5.35% due 4/1/06.................................... 131,413
250,000 Southern Regional High School District, NJ, General
Obligation Unlimited, (MBIA Insured),
5.40% due 9/1/04.................................... 254,720
See Notes to Financial Statements.
--118--
<PAGE>
------------------------
THE GLENMEDE PORTFOLIOS
------------------------
NEW JERSEY MUNI PORTFOLIO
STATEMENT OF NET ASSETS -- (CONCLUDED)
APRIL 30, 2000 -- (UNAUDITED)
FACE
AMOUNT VALUE
-------------- ----------
MUNICIPAL BONDS -- (CONTINUED)
$160,000 Sparta Township, NJ, School District, General
Obligation Unlimited, (MBIA Insured),
5.75% due 9/1/04.................................... $ 165,186
100,000 Surf City, NJ, General Obligation Unlimited, (MBIA
Insured),
5.15% due 1/15/06................................... 100,615
85,000 Tewksbury Township, NJ, Board of Education, General
Obligation Unlimited, (FSA Insured),
5.00% due 1/15/02................................... 85,462
150,000 Warren Township, NJ, School District, General
Obligation Unlimited (School Board Residual Fund
Insured),
5.35% due 3/15/10................................... 151,898
100,000 West Orange, NJ, General Obligation Unlimited,
5.10% due 1/1/05.................................... 100,447
West Windsor Township, NJ, General Obligation
Unlimited, Refunding,
280,000 4.00% due 7/15/06................................... 259,661
250,000 4.50% due 7/15/07................................... 238,553
350,000 Western Monmouth Utilities Authority, NJ, Revenue,
Series A, (AMBAC Insured),
5.25% due 2/1/09.................................... 350,564
100,000 Woodbridge Township, NJ, General Obligation Unlimited,
Refunding, (FGIC Insured),
4.00% due 8/15/06................................... 92,553
-----------
TOTAL MUNICIPAL BONDS
(Cost $16,780,062).................................. 16,481,749
-----------
TOTAL INVESTMENTS (Cost $16,780,062)...................... 99.3% $16,481,749
OTHER ASSETS IN EXCESS OF LIABILITIES..................... 0.7 110,946
----- -----------
NET ASSETS................................................ 100.0% $16,592,695
====== ===========
NET ASSET VALUE($16,592,695 DIVIDED BY 1,676,602
SHARES OUTSTANDING)..................................... $ 9.90
===========
------------------
Abbreviations:
AMBAC -- American Municipal Bond Assurance Corporation
FGIC -- Federal Guaranty Insurance Corporation
FSA -- Financial Security Assurance Inc.
HUD -- Housing and Urban Development
MBIA -- Municipal Bond Investors Assurance
See Notes to Financial Statements.
--119--
<PAGE>
------------------------
THE GLENMEDE PORTFOLIOS
------------------------
NOTES TO FINANCIAL STATEMENTS
(UNAUDITED)
1. SIGNIFICANT ACCOUNTING POLICIES
The Glenmede Portfolios (the "Fund") is an investment company that was
organized as a Massachusetts business trust on March 3, 1992 and is registered
with the Securities and Exchange Commission under the Investment Company Act of
1940 as an open-end management investment company. As of April 30, 2000, the
Fund offered shares of two SubTrusts, the Muni Intermediate Portfolio and the
New Jersey Muni Portfolio (collectively, the "Portfolios").
The preparation of financial statements in conformity with accounting
principles generally accepted in the UnitedStates requires management to make
estimates and assumptions that affect the reported amounts of assets and
liabilities and disclosure of contingent assets and liabilities at the date of
the financial statements and the reported amounts of revenues and expenses
during the reporting period. Actual results could differ from those estimates.
The following is a summary of significant accounting policies consistently
followed by each Portfolio in the preparation of its financial statements.
PORTFOLIO VALUATION: Municipal obligations for which market quotations are
readily available are valued at the most recent quoted bid price provided by
investment dealers. Municipal obligations may be valued on the basis of prices
provided by a pricing service when such prices are determined by the investment
advisor to reflect the fair market value of such municipal obligations;
securities for which market quotations are not readily available are valued at
fair value as determined in good faith by or under the direction of the Board of
Trustees.
SECURITIES TRANSACTIONS AND INVESTMENT INCOME: Securities transactions are
recorded as of the trade date. Realized gains and losses on investments sold are
computed on the basis of identified cost. Interest income is recorded on the
accrual basis and includes the amortization of premiums and accretion of
discounts when appropriate.
Securities purchased or sold on a when-issued or delayed-delivery basis may
be settled a month or more after the trade date. Interest income is not earned
or accrued until settlement date. Each Portfolio segregates assets with a
current value at least equal to the amount of its when-issued purchased
commitments. When-issued purchase commitments involve a risk of loss if the
value of the security to be purchased declines prior to settlement date.
DIVIDENDS AND DISTRIBUTIONS TO SHAREHOLDERS: Dividends from net investment
income, if any, are declared and paid monthly. The Portfolios distribute any net
realized capital gains on an annual basis. Additional distributions of net
investment income and capital gains for each Portfolio may be made at the
discretion of the Board of Trustees in order to avoid a 4% nondeductible Federal
excise tax. Income distributions and capital gains distributions are determined
in accordance with income tax regulations which may differ from accounting
principles generally accepted in the United States. These differences are
primarily due to differing treatments of income and gains of various investment
securities held by each Portfolio, timing differences and differing
characterization of distributions made by each Portfolio.
--120--
<PAGE>
------------------------
THE GLENMEDE PORTFOLIOS
------------------------
NOTES TO FINANCIAL STATEMENTS -- (CONTINUED)
(UNAUDITED)
FEDERAL INCOME TAXES: Each Portfolio intends to qualify as a regulated
investment company by complying with the requirements of the Internal Revenue
Code applicable to regulated investment companies and by distributing
substantially all of its tax-exempt (and taxable, if any) income to its
shareholders. Therefore, no Federal income tax provision is required. The
Portfolios may periodically make reclassifications among certain of their
capital accounts as a result of differences in the characterization and
allocation of certain income and capital gains determined annually in accordance
with federal tax regulations which may differ from accounting principles
generally accepted in the United States.
2. INVESTMENT ADVISORY FEE, ADMINISTRATION FEE AND OTHER RELATED PARTY
TRANSACTIONS
The Glenmede Trust Company (the "Advisor") provides investment advisory
services to the Fund. The Advisor does not receive a fee from the Portfolios for
its investment advisory services. However, each Portfolio pays The Glenmede
Trust Company a shareholder servicing fee at the annual rate of 0.05% of the
value of its average daily net assets.
Investment Company Capital Corp. ("ICC") provides administrative, accounting
and transfer agent services to the Fund. The Fund pays ICC a fee based on the
combined aggregate average daily net assets of the Fund and The Glenmede Fund,
Inc., an investment company with the same officers, Board and service providers
as the Fund (collectively, the "Companies"). This fee is computed daily and paid
monthly at the following annual rates: 0.12% of the first $100 million, 0.08% of
the next $150 million, 0.04% of the next $500 million and 0.03% of the amount in
excess of $750 million. This fee is allocated to each Portfolio based on its
relative net assets.
The Fund pays each Board member an annual fee of $1,000 and out-of-pocket
expenses incurred in attending Board meetings.
Expenses for the six month period ended April 30, 2000 include legal fees
paid to Drinker Biddle &Reath LLP. A partner of the law firm is secretary of the
Fund.
3. PURCHASES AND SALES OF SECURITIES
For the six month period ended April 30, 2000, cost of purchases and proceeds
from sales of investment securities other than U.S. Government securities and
short-term securities were:
PORTFOLIO PURCHASES SALES
-------------- --------- ----------
Muni Intermediate Portfolio ................ $845,652 $1,415,561
New Jersey Muni Portfolio................... 484,702 1,483,097
--121--
<PAGE>
------------------------
THE GLENMEDE PORTFOLIOS
------------------------
NOTES TO FINANCIAL STATEMENTS -- (CONTINUED)
(UNAUDITED)
On April 30, 2000, aggregate gross unrealized appreciation for all securities
in which there was an excess of value over tax cost and aggregate gross
unrealized depreciation for all securities in which there was an excess of tax
cost over value were as follows:
PORTFOLIO APPRECIATION DEPRECIATION
-------------- ------------ ------------
Muni Intermediate Portfolio................. $99,036 $149,515
New Jersey Muni Portfolio................... 48,733 347,046
4. SHARES OF BENEFICIAL INTEREST
The Fund may issue an unlimited number of shares of beneficial interest with
a $.001 par value. Changes in shares of beneficial interest outstanding were as
follows:
SIX MONTHS ENDED YEAR ENDED
4/30/00 10/31/99
--------------------- ---------------------
Shares Amount Shares Amount
-------- --------- -------- ---------
MUNI INTERMEDIATE PORTFOLIO:
Sold......................... 79,925 $ 805,000 215,979 $ 2,255,900
Redeemed..................... (134,640) (1,358,097) (476,937) (4,987,491)
-------- ----------- -------- -----------
Net decrease................. (54,715) $ (553,097) (260,958) $(2,731,591)
======== =========== ======== ===========
NEW JERSEY MUNI PORTFOLIO:
Sold......................... 97,221 $ 966,000 361,931 $ 3,735,500
Redeemed..................... (215,331) (2,137,429) (244,617) (2,511,205)
-------- ----------- -------- -----------
Net increase/(decrease)...... (118,110) $(1,171,429) 117,314 $ 1,224,295
======== =========== ======== ===========
5. CAPITAL LOSS CARRYFORWARD
On April 30, 2000, the Portfolios had available capital loss carryforwards to
be utilized in the current period to offset future net capital gains through the
indicated expiration dates as follows:
<TABLE>
<CAPTION>
EXPIRING EXPIRING EXPIRING EXPIRING EXPIRING EXPIRING
PORTFOLIO IN 2002 IN 2003 IN 2004 IN 2005 IN 2006 IN 2007
--------------- -------- -------- -------- -------- -------- --------
<S> <C> <C> <C> <C> <C> <C>
Muni Intermediate Portfolio. $143,831 $549,436 $ 2,107 $42,723 $ -- $ --
New Jersey Muni Portfolio... 56,593 21,708 11,660 -- 1,722 2,683
</TABLE>
--122--
<PAGE>
------------------------
THE GLENMEDE PORTFOLIOS
------------------------
NOTES TO FINANCIAL STATEMENTS -- (CONCLUDED)
(UNAUDITED)
6. CONCENTRATION OF CREDIT
The Muni Intermediate Portfolio and New Jersey Muni Portfolio primarily
invest in debt obligations issued by the Commonwealth of Pennsylvania and the
State of New Jersey, respectively, and their political subdivisions, agencies
and public authorities to obtain funds for various purposes. Each Portfolio is
more susceptible to factors adversely affecting issuers of the respective region
that the Portfolio invests in than is a municipal bond fund that is not
concentrated in these issuers to the same extent. As of April 30, 2000, the Muni
Intermediate Portfolio maintained all of its investments in debt obligations
issued by the Commonwealth of Pennsylvania and its political subdivisions and
the New Jersey Muni Portfolio maintained a majority of its investments in debt
obligations issued by the State of New Jersey and its political subdivisions.
7. NET ASSETS
On April 30, 2000, net assets consisted of:
MUNI NEW JERSEY
INTERMEDIATE MUNI
PORTFOLIO PORTFOLIO
-------------- ------------
Par Value......................................... $ 1,575 $ 1,677
Paid in Capital in excess of par value............ 16,606,009 16,938,016
Undistributed net investment income............... 62,021 60,824
Accumulated net realized loss on investments...... (768,251) (109,509)
Net unrealized depreciation of investments ....... (50,480) (298,313)
----------- -----------
Total Net Assets............................. $15,850,874 $16,592,695
=========== ===========
--123--
<PAGE>
THE GLENMEDE FUND, INC. AND THE GLENMEDE PORTFOLIOS
OFFICERS AND DIRECTORS/TRUSTEES
John W. Church, Jr. Mary Ann B. Wirts
Chairman, President
Director/Trustee
Kimberly C. Osborne
H. Franklin Allen, Ph.D. Executive Vice President,
Director/Trustee Treasurer
Willard S. Boothby, Jr. Michael P. Malloy
Director/Trustee Secretary
Frank J. Palamara
Director/Trustee
G. Thompson Pew, Jr.
Director/Trustee
INVESTMENT ADVISOR INVESTMENT SUB-ADVISORS
The Glenmede Trust Company (for Emerging Markets Portfolio)
One Liberty Place Pictet International Management
1650 Market Street, Suite 1200 Limited
Philadelphia, Pennsylvania 19103 Tower 42, Level 37
25 OldBroadStreet
ADMINISTRATOR London, United Kingdom ECN 1.HQ
Investment Company Capital Corp.
P.O. Box 515 (for Small Capitalization Growth
Baltimore, Maryland 21203 Portfolio)
TCW Investment Management Company
CUSTODIAN 865 South Figueroa Street
The Chase Manhattan Bank, N.A. Los Angeles, California 90017
3 Chase Metrotech Center
Brooklyn, NY 11245 Winslow Capital Management, Inc.
4720 IDS Tower
LEGAL COUNSEL 80 South Eighth Street
Drinker Biddle & Reath LLP Minneapolis, Minnesota 55402
One Logan Square
18th & Cherry Streets DISTRIBUTOR
Philadelphia, Pennsylvania 19103-6996 ICC Distributors, Inc.
Two Portland Square
INDEPENDENT ACCOUNTANTS Portland, Maine 04101
PricewaterhouseCoopers LLP
250 West Pratt Street
Baltimore, Maryland 21201
--124--
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<PAGE>
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<PAGE>
The report is submitted for the general information of the shareholders of The
Glenmede Fund, Inc. and The Glenmede Portfolios. It is not authorized for
distribution to prospective investors unless accompanied or preceded by an
effective prospectus for the Funds, which contains information concerning the
Fund's investment policies and expenses as well as other pertinent information.
