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SECURITY SECURITY MARKET QUANTITY
NAME DESCRIPTION CUSIP VALUE (UNITS)
BLC A.H. BELO CORPORATION SER A 080555105 37653032.24 1968786
ABT ABBOTT LABORATORIES 002824100 40491113.25 1103676
ADX ADAMS EXPRESS COMPANY 006212104 389443.13 13605
ACVA ALBERTO CULVER CL A 013068200 20930564.31 1069933
ALFA ALFA CORPORATION 015385107 445672.50 27426
AFC ALLMERICA FINANCIAL CORPORATION 019754100 342376.13 7189
AZA ALZA CORPORATION 022615108 7682317.81 179441
AHC AMERADA HESS CORP 023551104 315682.50 5154
AOL AMERICA ONLINE INC 02364J104 1389754.69 13355
AXP AMERICAN EXPRESS 025816109 9876330.00 73158
AHP AMERICAN HOME PRODUCTS CORP 026609107 15587317.00 375598
AIG AMERICAN INTERNATIONAL GROUP 026874107 54144240.33 622795
AIT AMERITECH CORP 030954101 1188750.75 17809
ASO AMSOUTH BANCORP 032165102 398437.50 17000
BUD ANHEUSER-BUSCH CO INC 035229103 3309332.13 47234
ASTE ASTEC INDUSTRIES INC 046224101 868500.00 36000
T AT&T CORPORATION 001957109 1161188.92 26694
ARC ATLANTIC RICHFIELD CO 048825103 1013515.50 11436
BAC BANK OF AMERICA CORPORATION 060505104 15959703.38 286594
ONE BANK ONE CORPORATION 06423A103 4301258.44 123555
BKB BANKBOSTON CORPORATION 06605R106 62526667.38 1441537
BWC BELDEN INC 077459105 231650.00 11300
BEL BELL ATLANTIC 077853109 2640534.75 39228
BLS BELLSOUTH CORP 079860102 1671390.00 37142
BRK/B BERKSHIRE HATHAWAY INC-CL B 084670207 252416.00 136
BA BOEING COMPANY 097023105 2378858.63 55809
BPA BP AMOCO PLC SPON ADR 055622104 875640.82 7902
BMY BRISTOL MYERS-SQUIBB CO 110122108 21258450.00 314940
CPB CAMPBELL SOUP COMPANY 134429109 206893.00 5288
CAH CARDINAL HEALTH INC 14149Y108 397850.00 7300
CBL CBL & ASSOCIATES PROPERTIES 124830100 268812.50 11000
FUN CEDAR FAIR LP 150185106 365200.00 17600
SCH CHARLES SCHWAB CORPORATION 808513105 291909.38 8730
CMB CHASE MANHATTAN CORPORATION 16161A108 46887320.90 622054
CKFR CHECKFREE HOLDINGS CORP 162816102 226187.50 5500
CHV CHEVRON CORP 166751107 1475557.50 16626
CSCO CISCO SYSTEMS INC 17275R102 490221.88 7150
C CITIGROUP INC 172967101 543180.00 12345
CGP COASTAL CORPORATION 190441105 42063404.06 1027503
KO COCA COLA COMPANY 191216100 6140632.75 127267
CPQ COMPAQ COMPUTER CORP 204493100 645189.38 28205
COST COSTCO WHOLESALE CORPORATION 22160K105 34534728.00 479649
DLP DELTA & PINE LAND COMPANY 247357106 241491.38 9333
DPL DPL INC 233293109 953988.38 54127
DD DU PONT E I DE NEMOURS & CO 263534109 487993.00 8066
DUK DUKE ENERGY CORPORATION 264399106 998975.25 18122
ELN ELAN CORPORATION PLC ADR 284131208 39866510.81 1187829
EDS ELECTRONIC DATA SYSTEMS CORPORATION 285661104 59064803.88 1115746
EMC EMC CORP-MASS 268648102 93038954.13 1303523
EFX EQUIFAX INC 294429105 5651718.75 200950
ATF EQUITY INCOME FUND (AT&T) 294700703 226262.50 1150
XON EXXON CORPORATION 302290101 7141264.00 93964
FNM FANNIE MAE 313586109 18704006.69 298369
FDX FDX CORPORATION 31304N107 575194.50 14796
FRE FEDERAL HOME LOAN MORTGAGE 313400301 54976324.00 1057237
FD FEDERATED DEPARTMENT STORES 31410H101 24821009.44 568149
FTN FIRST TENNESSEE NATIONAL CORPORATION 337162101 3366056.25 119682
FTU FIRST UNION CORPORATION 337358105 511468.13 14357
GE GENERAL ELECTRIC COMPANY 369604103 63207802.88 533118
GIC GENERAL INSTRUMENT CORP 370120107 368400.00 7675
GIS GENERAL MILLS INC 370334104 244186.25 3010
GLX GLAXO WELLCOME PLC 37733W105 273884.00 5267
GTE GTE CORPORATION 362320103 76990158.75 1001498
GDT GUIDANT CORPORATION 401698105 212355.00 3960
HRC HEALTHSOUTH CORPORATION 421924101 255179.75 41662
HWP HEWLETT PACKARD CO 428236103 580074.00 6392
HD HOME DEPOT INC 437076102 2178363.38 31743
INDYY INDEPENDENT ENERGY HOLDINGS PLC 45384X108 980059.13 51078
INTC INTEL CORPORATION 458140100 5209677.81 70105
IBM INTERNATIONAL BUSINESS MACHINE 459200101 865634.00 7154
IPG INTERPUBLIC GROUP COS INC 460690100 56667124.50 1377924
JP JEFFERSON PILOT 475070108 246368.06 3899
JNJ JOHNSON & JOHNSON 478160104 839278.13 9135
K KELLOGG CO 487836108 438505.44 11713
KMB KIMBERLY CLARK CORPORATION 494368103 3966800.00 75200
ERICY L.M. ERICSSON TELEPHONE COMPANY ADR 294821400 700625.00 22420
LU LUCENT TECHNOLOGIES INC 549463107 1948066.50 30028
MAY MAY DEPARTMENT STORES COMPANY 577778103 638093.50 17512
MBI MBIA INC 55262C100 8714818.63 186913
MCD McDONALD'S CORPORATION 580135101 415546.00 9608
WCOM MCI WORLDCOM INC 55268B106 75197565.63 1046227
MRX MEDICIS PHARMACEUTICALS CORP 584690309 1016039.25 35651
MDT MEDTRONIC INC 585055106 59596562.13 1675826
MRK MERCK & COMPANY 589331107 44346332.81 684225
MSFT MICROSOFT CORPORATION 594918104 34832511.00 384624
MOB MOBIL CORPORATION 607059102 1284562.50 12750
MTC MONSANTO CO 611662107 718032.50 20120
MOT MOTOROLA INC 620076109 40550400.00 460800
MMA MUNICIPAL MORTGAGE & EQUITY LLC 62624B101 334150.00 16400
NLC NALCO CHEMICAL 629853102 202000.00 4000
NCBC NATIONAL COMMERCE BANCORP 635449101 5144114.63 234156
NWS/A NEWS CORPORATION LTD SPNS ADR PRF 652487802 288225.00 10800
NSC NORFOLK SOUTHERN CORP 655844108 468268.50 19113
PZZA PAPA JOHNS INTERNATIONAL INC 698813102 274312.50 6650
PEP PEPSICO INC 713448108 21438114.50 702889
PFE PFIZER INC 717081103 1040733.75 29010
MO PHILIP MORRIS COMPANIES INC 718154107 338456.25 9900
PBI PITNEY BOWES INC 724479100 2464068.75 40436
PG PROCTER & GAMBLE COMPANY 742718109 3433125.00 36620
PRH PROMUS HOTEL CORPORATION 74342P106 336110.13 10322
QCOM QUALCOMM INC 747525103 264862.50 1400
RTN.B RAYTHEON COMPANY - CL B 755111408 12607727.50 254060
RTN.A RAYTHEON COMPANY - CL A 755111309 7553293.00 155738
RGBK REGIONS FINANCIAL CORP 758940100 200760.00 6692
REP REPSOL SA ADR 76026T205 28563160.31 1432635
RTRSY REUTERS HOLDINGS PLC ADR B 76132M102 3237469.38 47005
RFS RFS HOTEL INVESTORS INC 74955J108 594389.00 51686
RD ROYAL DUTCH PETROLEUM COMPANY 780257804 4865096.25 82372
SKS SAKS INC 79377W108 566296.31 37287
SLE SARA LEE CORPORATION 803111103 4131063.75 176730
SBC SBC COMMUNICATIONS INC 78387G103 1355096.63 26538
SGP SCHERING PLOUGH CORPORATION 806605101 113636450.38 2604847
SLB SCHLUMBERGER LTD 806857108 601128.69 9647
SMG SCOTTS COMPANY CL A 810186106 873658.00 25232
SC SHELL TRANS & TRADING SP ADR 822703609 1028300.00 22600
SLR SOLECTRON CORPORATION 834182107 718125.00 10000
FON SPRINT CORP (FON GROUP) 852061100 34275746.75 631811
SUS STORAGE USA INC 861907103 231440.00 8416
SUNW SUN MICROSYSTEMS INC 866810104 362142.00 3894
SNV SYNOVOUS FINANCIAL CORPORATION 87161C105 560625.00 30000
SYY SYSCO CORPORATION 871829107 40023808.48 1141499
TECUA TECUMSEH PRODUCTS CO CL A 878895200 350875.00 7000
TX TEXACO INC 881694103 8569029.38 135747
TXN TEXAS INSTRUMENTS INC 882508104 378350.00 4600
TWX TIME WARNER INC 887315109 2285415.00 37620
TMK TORCHMARK CORP 891027104 203015.25 7846
UN UNILEVER NV 904784709 11547528.04 169505
UPC UNION PLANTERS CORP 908068109 955832.00 23456
UNM UNUMPROVIDENT CORP 91529Y106 10166682.19 345365
VIA/B VIACOM INC CL B 925524308 683013.50 16166
VOD VODAFONE AIRTOUCH PLC ADR 92857T107 133928854.50 563318
WDFC W D 40 CORP 929236107 409609.38 17500
GWW W W GRAINGER 384802104 22827957.25 474964
WMT WAL MART STORES INC 931142103 10620516.00 223296
WAG WALGREEN COMPANY 931422109 732627.00 28872
DIS WALT DISNEY COMPANY 254687106 15388672.00 591872
WLA WARNER LAMBERT COMPANY 934488107 62417058.75 940370
WFC WELLS FARGO COMPANY 949746101 60277550.00 1521200
WMB WILLIAMS COMPANIES INC 969457100 280682.50 7460
XL XL CAPITAL LTD CL A G98255105 33660675.00 748015
GRAND TOTAL ( 140 items ) 1905626513.10
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