UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 13F
Form 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: March 31, 2000
Check here if Amendment [ ]; Amendment Number: ____
This Amendment (Check only one.): [ ] is a restatement.
[ ] adds new holdings entries.
Institutional Investment Manager Filing this Report:
Name: Train, Smith Counsel LLC
Address: 667 Madison Avenue
New York, NY 10021
Form 13F File Number: 28-02669
The institutional investment manager filing this report and the person by whom
it is signed hereby represent that the person signing the report is authorized
to submit it, that all information contained herein is true, correct and
complete, and that it is understood that all required items, statements,
schedules, lists, and tables, are considered integral parts of this form.
Person Signing this Report on Behalf of Reporting Manager:
Name: John H. Rogicki
Title: Member and Chief Operating Officer
Phone: 212-451-3400
Signature, Place, and Date of Signing:
/s/ John H. Rogicki New York, New York May 12, 2000
- ------------------------------- ------------------------------ ------------
(Signature) (City, State) (Date)
Report Type (Check only one.):
[X] 13F HOLDINGS REPORT. (Check here if all holdings of this reporting
manager are reported in this report.)
[ ] 13F NOTICE. (Check here if no holdings reported are in this report,
and all holdings are reported by other reporting manager(s).)
[ ] 13F COMBINATION REPORT. (Check here if a portion of the holdings for
this reporting manager are reported in this report and a portion are
reported by other reporting manager(s).)
List of Other Managers Reporting for this Manager: NONE
I AM SIGNING THIS REPORT AS REQUIRED BY THE SECURITIES EXCHANGE ACT OF 1934.
<PAGE>
Form 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers: 0
------------------
Form 13F Information Table Entry Total: 275
------------------
Form 13F Information Table Value Total: $284,898,766.00
------------------
List of Other Included Managers: NONE
<PAGE>
Train, Smith Counsel - SEC 13(f) Report - 03/31/2000
<TABLE>
<CAPTION>
FORM 13F
REPORTING MANAGER:
- ------------------------------------------------------------------------------------------------------------------------------------
ITEM 1 ITEM 2 ITEM 3 ITEM 4 ITEM 5 ITEM 6 ITEM 7 ITEM 8
NAME OF ISSUER TITLE CUSIP FAIR SHARES OF INVESTMENT MANA- VOTING AUTHORITY
OF NUMBER MARKET PRINCIPAL DISCRETION GERS
CLASS VALUE AMOUNT SOLE SHARED SHARED SOLE SHARED NONE
OTHER
(A) (B) (C) (A) (B) (C)
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
ABBOTT LABS COMMON 002824100 1,856,352.00 52,756 N X 40,064 0 12,692
ABBOTT LABS COMMON 002824100 1,669,858.00 47,456 N X 23,200 0 24,256
ADVENT SOFTWARE, INC. COMMON 007974108 5,589,869.00 121,850 N X 80,050 0 41,800
ADVENT SOFTWARE, INC. COMMON 007974108 41,288.00 900 N X 900 0 0
ALLERGAN INC COMMON 018490102 200,000.00 4,000 N X 0 0 4,000
AMERICA ONLINE INC COMMON 02364J104 2,382,230.00 35,325 N X 21,650 0 13,675
AMERICA ONLINE INC COMMON 02364J104 283,238.00 4,200 N X 2,200 0 2,000
AMERICAN EXPRESS CO COMMON 025816109 387,983.00 2,605 N X 2,405 0 200
AMERICAN EXPRESS CO COMMON 025816109 1,221,586.00 8,202 N X 7,000 0 1,202
AMERICAN GENERAL CORP COMMON 026351106 350,669.00 6,248 N X 6,248 0 0
AMERICAN HOME PRODS CORP COMMON 026609107 5,422,085.00 100,876 N X 68,176 0 32,700
AMERICAN HOME PRODS CORP COMMON 026609107 634,250.00 11,800 N X 8,100 0 3,700
AMERICAN INTL GROUP INC COMMON 026874107 20,920,632.00 191,056 N X 154,910 0 36,146
AMERICAN INTL GROUP INC COMMON 026874107 7,015,665.00 64,070 N X 46,222 0 17,848
AMGEN INC OTC 031162100 2,234,050.00 36,400 N X 24,400 0 12,000
AMGEN INC OTC 031162100 871,525.00 14,200 N X 6,400 0 7,800
ANHEUSER BUSCH COS INC COMMON 035229103 311,250.00 5,000 N X 5,000 0 0
APPLE COMPUTER INC OTC 037833100 366,694.00 2,700 N X 2,700 0 0
APPLIED MICRO CIRCUTS CORP COMMON 03822W109 1,911,796.00 12,740 N X 0 0 12,740
APTARGROUP INC COMMON 038336103 258,975.00 10,000 N X 0 0 10,000
ARCHSTONE COMMUNITIES TRUS COMMON 039581103 235,263.00 11,800 N X 11,800 0 0
ARCHSTONE COMMUNITIES TRUS COMMON 039581103 360,869.00 18,100 N X 18,100 0 0
ASPEN TECHNOLOGIES, INC. OTC 045327103 16,150.00 400 N X 400 0 0
ASPEN TECHNOLOGIES, INC. OTC 045327103 629,850.00 15,600 N X 15,600 0 0
AT & T CORP. COMMON 001957109 298,062.00 5,293 N X 3,793 0 1,500
AT & T CORP. COMMON 001957109 663,249.00 11,778 N X 4,778 0 7,000
ATLANTIC COAST AIRLINES COMMON 048396105 310,500.00 12,000 N X 0 0 12,000
AUTOMATIC DATA PROCESSING COMMON 053015103 453,550.00 9,400 N X 9,000 0 400
AUTOMATIC DATA PROCESSING COMMON 053015103 308,800.00 6,400 N X 6,400 0 0
AVERY DENNISON CORP COMMON 053611109 293,100.00 4,800 N X 4,800 0 0
AXA FINANCIALS INC COMMON 002451102 2,009.00 56 N X 0 0 56
AXA FINANCIALS INC COMMON 002451102 574,000.00 16,000 N X 16,000 0 0
BANGOR HYDRO-ELECTRIC COMP COMMON 060077104 173,125.00 10,000 N X 10,000 0 0
BANK NEW YORK INC COMMON 064057102 221,113.00 5,320 N X 3,320 0 2,000
BANK NEW YORK INC COMMON 064057102 49,875.00 1,200 N X 1,200 0 0
BANK OF AMERICA CORPORATIO COMMON 060505104 364,022.00 6,942 N X 486 0 6,456
BANK TOKYO-MITSUBISHI LTD COMMON 065379109 354,688.00 25,000 N X 0 0 25,000
BAXTER INTL INC COMMON 071813109 376,125.00 6,000 N X 0 0 6,000
BCE INC COMMON 05534B109 878,063.00 7,000 N X 0 0 7,000
BELL ATLANTIC CORP COMMON 077853109 10,919,004.00 178,634 N X 134,534 0 44,100
BELL ATLANTIC CORP COMMON 077853109 5,897,218.00 96,478 N X 72,078 0 24,400
BELLSOUTH CORP COMMON 079860102 269,531.00 5,750 N X 5,750 0 0
BELLSOUTH CORP COMMON 079860102 257,813.00 5,500 N X 5,500 0 0
BERKSHIRE HATHAWAY INC DEL COMMON 084670108 228,800.00 4 N X 4 0 0
BERKSHIRE HATHAWAY INC DEL COMMON 084670108 171,600.00 3 N X 3 0 0
BESTFOODS INC. COMMON 08658U101 37,450.00 800 N X 0 0 800
BESTFOODS INC. COMMON 08658U101 393,225.00 8,400 N X 8,400 0 0
BMC SOFTWARE INC OTC 055921100 8,660,375.00 175,400 N X 125,950 0 49,450
BMC SOFTWARE INC OTC 055921100 353,032.00 7,150 N X 5,100 0 2,050
BP AMOCO PLC COMMON 055622104 167,738.00 3,150 N X 3,150 0 0
BP AMOCO PLC COMMON 055622104 1,102,169.00 20,698 N X 5,026 0 15,672
BRISTOL MYERS SQUIBB CO COMMON 110122108 6,835,300.00 117,850 N X 66,030 0 51,820
BRISTOL MYERS SQUIBB CO COMMON 110122108 3,132,000.00 54,000 N X 38,500 0 15,500
BROADCOM CORP-CL A COMMON 111320107 2,586,619.00 10,650 N X 50 0 10,600
BROADCOM CORP-CL A COMMON 111320107 97,150.00 400 N X 0 0 400
BROCADE COMM SYSTEMS INC. COMMON 111621108 1,326,913.00 7,400 N X 0 0 7,400
CARLTON COMM PLC- SPONS AD OTC 142872209 470,000.00 8,000 N X 0 0 8,000
CARREFOUR SA (EUR) 2.5 COMMON F13923119 264,564.00 1,800 N X 0 0 1,800
CELL THERAPEUTICS INC. COMMON 150934107 239,063.00 10,200 N X 0 0 10,200
CHARLES E SMITH RESIDENTIA COMMON 832197107 1,419,713.00 39,300 N X 39,300 0 0
CHASE MANHATTAN BANK NEW COMMON 16161A108 191,813.00 2,200 N X 1,200 0 1,000
CHASE MANHATTAN BANK NEW COMMON 16161A108 181,176.00 2,078 N X 2,030 0 48
CHEVRON CORP COMMON 166751107 37,345.00 404 N X 0 0 404
CHEVRON CORP COMMON 166751107 550,003.00 5,950 N X 5,550 0 400
CIENA CORP COMMON 171779101 227,025.00 1,800 N X 0 0 1,800
CISCO SYS INC OTC 17275R102 14,276,913.00 184,665 N X 74,070 0 110,595
CISCO SYS INC OTC 17275R102 8,855,683.00 114,544 N X 102,500 0 12,044
CITIGROUP, INC. COMMON 172967101 413,856.00 6,912 N X 6,512 0 400
CITIGROUP, INC. COMMON 172967101 1,258,453.00 21,018 N X 18,318 0 2,700
CNF TRANSPORTATION COMMON 12612W104 222,000.00 8,000 N X 0 0 8,000
COCA COLA CO COMMON 191216100 1,607,422.00 34,246 N X 33,346 0 900
COCA COLA CO COMMON 191216100 352,032.00 7,500 N X 3,700 0 3,800
COLGATE PALMOLIVE CO COMMON 194162103 231,138.00 4,100 N X 4,000 0 100
COMCAST CORP CL A SPL OTC 200300200 170,031.00 3,920 N X 3,780 0 140
COMCAST CORP CL A SPL OTC 200300200 707,013.00 16,300 N X 15,600 0 700
COMPUTER ASSOC INTL INC COMMON 204912109 13,217,871.00 223,322 N X 178,062 0 45,260
COMPUTER ASSOC INTL INC COMMON 204912109 9,296,818.00 157,074 N X 130,762 0 26,312
COMPUTER SCIENCES CORP COMMON 205363104 838,250.00 10,594 N X 1,344 0 9,250
CONOCO INC. CL B COMMON 208251405 15,708.00 613 N X 613 0 0
CONOCO INC. CL B COMMON 208251405 361,902.00 14,123 N X 13,389 0 734
COSTCO WHOLESALE CORPORATI OTC 22160K105 841,000.00 16,000 N X 0 0 16,000
CVS CORP COMMON 126650100 773,788.00 20,600 N X 0 0 20,600
DELL COMPUTER CORP. COMMON 247025109 20,806,391.00 385,750 N X 258,150 0 127,600
DELL COMPUTER CORP. COMMON 247025109 4,138,085.00 76,720 N X 53,600 0 23,120
DENDRITE INTERNATIONAL INC OTC 248239105 341,282.00 16,300 N X 15,000 0 1,300
DISNEY WALT CO. COMMON 254687106 20,551,906.00 498,228 N X 432,778 0 65,450
DISNEY WALT CO. COMMON 254687106 15,737,370.00 381,512 N X 323,684 0 57,828
DOUBLECLICK INC COMMON 258609304 524,300.00 5,600 N X 5,600 0 0
DOVER CORP COMMON 260003108 383,000.00 8,000 N X 8,000 0 0
DST SYSTEMS, INC. COMMON 233326107 3,890,353.00 59,920 N X 42,824 0 17,096
DST SYSTEMS, INC. COMMON 233326107 779,758.00 12,010 N X 9,292 0 2,718
DU PONT E I DE NEMOURS CO COMMON 263534109 8,178,166.00 154,487 N X 124,753 0 29,734
DU PONT E I DE NEMOURS CO COMMON 263534109 60,735,587.00 1,147,307 N X 716,746 0 430,561
EMC CORP/MASS COMMON 268648102 32,080,482.00 254,607 N X 165,559 0 89,048
EMC CORP/MASS COMMON 268648102 8,516,970.00 67,595 N X 48,320 0 19,275
EMERSON ELEC CO COMMON 291011104 1,073,125.00 20,200 N X 1,000 0 19,200
ENRON CORP COMMON 293561106 299,500.00 4,000 N X 4,000 0 0
ERICSSON L M TEL CO ADR CL OTC 294821400 225,150.00 2,400 N X 2,400 0 0
EXXON CORP COMMON 302290101 300,215.00 3,852 N X 3,852 0 0
EXXON MOBIL CORPORATION COMMON 30231G102 2,756,104.00 35,363 N X 29,905 0 5,458
EXXON MOBIL CORPORATION COMMON 30231G102 4,270,196.00 54,790 N X 29,090 0 25,700
FED HOME LN MTG CP-VTG COM COMMON 313400301 142,947.00 3,235 N X 3,235 0 0
FED HOME LN MTG CP-VTG COM COMMON 313400301 106,050.00 2,400 N X 2,400 0 0
FEDERAL NAT MORTGAGE ASSN. COMMON 313586109 612,289.00 10,825 N X 2,000 0 8,825
FEDERAL NAT MORTGAGE ASSN. COMMON 313586109 84,844.00 1,500 N X 0 0 1,500
FIRST DATA CORP COMMON 319963104 15,020,849.00 338,498 N X 304,013 0 34,485
FIRST DATA CORP COMMON 319963104 11,953,471.00 269,374 N X 215,523 0 53,851
FIRST UNION CORP COMMON 337358105 8,195.00 220 N X 220 0 0
FIRST UNION CORP COMMON 337358105 215,827.00 5,794 N X 5,536 0 258
G & K SERVICES INC COMMON 361268105 323,296.00 20,000 N X 0 0 20,000
GANNETT INC DEL COMMON 364730101 477,565.00 6,786 N X 6,786 0 0
GANNETT INC DEL COMMON 364730101 348,216.00 4,948 N X 4,948 0 0
GENENTECH COMMON 368710406 228,000.00 1,500 N X 0 0 1,500
GENENTECH COMMON 368710406 349,600.00 2,300 N X 2,100 0 200
GENERAL ELEC CO COMMON 369604103 3,928,287.00 25,242 N X 21,542 0 3,700
GENERAL ELEC CO COMMON 369604103 7,653,638.00 49,180 N X 45,880 0 3,300
GENERAL MILLS INC COMMON 370334104 262,359.00 7,250 N X 7,250 0 0
GENERAL MTRS CORP COMMON 370442105 248,604.00 3,002 N X 2,802 0 200
GENERAL MTRS CORP COMMON 370442105 662,500.00 8,000 N X 0 0 8,000
GILLETTE CO COMMON 375766102 4,475,919.00 118,764 N X 89,950 0 28,814
GILLETTE CO COMMON 375766102 2,404,463.00 63,800 N X 40,400 0 23,400
GRAHAM FIELD HEALTH PRODUC COMMON 384632105 2,940.00 10,500 N X 10,500 0 0
GTE CORP COMMON 362320103 953,104.00 13,424 N X 11,324 0 2,100
GUIDANT CORP COMMON 401698105 200,175.00 3,400 N X 0 0 3,400
GUIDANT CORP COMMON 401698105 23,550.00 400 N X 0 0 400
HARTE-HANKS, INC. COMMON 416196103 37,620,526.00 1,658,205 N X 1,356,371 0 301,834
HARTE-HANKS, INC. COMMON 416196103 18,374,425.00 809,892 N X 701,242 0 108,650
HEALTHEON/WEBMD CORP COMMON 422209106 207,000.00 9,000 N X 0 0 9,000
HEWLETT PACKARD CO COMMON 428236103 310,263.00 2,335 N X 1,000 0 1,335
HEWLETT PACKARD CO COMMON 428236103 2,019,700.00 15,200 N X 11,200 0 4,000
HOME DEPOT INC COMMON 437076102 1,199,700.00 18,600 N X 15,000 0 3,600
HOME DEPOT INC COMMON 437076102 406,440.00 6,301 N X 601 0 5,700
HOUSEHOLD INTL CORP COMMON 441815107 22,201.00 595 N X 595 0 0
HOUSEHOLD INTL CORP COMMON 441815107 179,100.00 4,800 N X 4,800 0 0
HRPT PROPERTIES TRUST COMMON 40426W101 104,215.00 11,996 N X 11,996 0 0
HUMAN GENOME SCIENCES INC OTC 444903108 664,500.00 8,000 N X 0 0 8,000
I2 TECHNOLOGIES CORP. COMMON 465754109 5,483,413.00 44,900 N X 1,600 0 43,300
IMS HEALTH COMMON 449934108 93,157.00 5,500 N X 4,500 0 1,000
IMS HEALTH COMMON 449934108 88,075.00 5,200 N X 5,200 0 0
INTEL CORP OTC 458140100 51,197,819.00 388,046 N X 288,433 0 99,613
INTEL CORP OTC 458140100 15,482,865.00 117,350 N X 83,900 0 33,450
INTERNATIONAL BUSINESS MAC COMMON 459200101 2,135,564.00 18,098 N X 17,988 0 110
INTERNATIONAL BUSINESS MAC COMMON 459200101 1,364,316.00 11,562 N X 6,462 0 5,100
JABIL CIRCUIT INC COMMON 466313103 579,550.00 13,400 N X 13,400 0 0
JDS UNIPHASE CORP COMMON 46612J101 2,268,504.00 18,816 N X 100 0 18,716
JDS UNIPHASE CORP COMMON 46612J101 265,238.00 2,200 N X 2,000 0 200
JOHNSON & JOHNSON COMMON 478160104 1,288,385.00 18,340 N X 18,340 0 0
JOHNSON & JOHNSON COMMON 478160104 3,725,990.00 53,039 N X 33,439 0 19,600
KIMBERLY CLARK CORP COMMON 494368103 238,266.00 4,250 N X 4,250 0 0
KONINKLIJKE PHILIPS ELEC. COMMON 500472204 472,823.00 2,760 N X 0 0 2,760
LEGATO SYSTEMS COMMON 524651106 350,306.00 7,850 N X 4,800 0 3,050
LILLY, ELI AND COMPANY COMMON 532457108 385,019.00 6,148 N X 6,148 0 0
LILLY, ELI AND COMPANY COMMON 532457108 250,250.00 3,996 N X 3,200 0 796
L'OREAL CO. ADR COMMON 502117203 258,356.00 2,000 N X 0 0 2,000
LUCENT TECHNOLOGIES INC COMMON 549463107 1,964,165.00 32,068 N X 12,220 0 19,848
LUCENT TECHNOLOGIES INC COMMON 549463107 548,065.00 8,948 N X 6,912 0 2,036
LYCOS INC COMMON 550818108 562,000.00 8,000 N X 8,000 0 0
MCGRAW HILL INC COMMON 580645109 407,862.00 8,964 N X 8,964 0 0
MCGRAW HILL INC COMMON 580645109 327,600.00 7,200 N X 5,600 0 1,600
MCI WORLDCOM, INC. COMMON 55268B106 270,742.00 5,975 N X 4,900 0 1,075
MCI WORLDCOM, INC. COMMON 55268B106 369,297.00 8,150 N X 7,550 0 600
MEDTRONIC INC COMMON 585055106 9,871,628.00 191,915 N X 142,475 0 49,440
MEDTRONIC INC COMMON 585055106 4,194,368.00 81,543 N X 62,294 0 19,249
MERCK & CO INC COMMON 589331107 7,506,813.00 120,834 N X 106,734 0 14,100
MERCK & CO INC COMMON 589331107 4,953,227.00 79,730 N X 55,988 0 23,742
MERRILL LYNCH & CO. COMMON 590188108 210,000.00 2,000 N X 2,000 0 0
METROMEDIA FIBER NETWORK-A COMMON 591689104 2,515,500.00 26,000 N X 26,000 0 0
MICROSOFT CORP OTC 594918104 12,062,031.00 113,525 N X 65,685 0 47,840
MICROSOFT CORP OTC 594918104 3,909,469.00 36,795 N X 22,125 0 14,670
MINNESOTA MNG & MFG CO COMMON 604059105 1,044,418.00 11,793 N X 11,793 0 0
MINNESOTA MNG & MFG CO COMMON 604059105 646,506.00 7,300 N X 7,300 0 0
MONSANTO CO COMMON 611662107 337,068.00 6,545 N X 6,545 0 0
MONSANTO CO COMMON 611662107 51,500.00 1,000 N X 1,000 0 0
MORGAN J.P. & CO INC COMMON 616880100 586,683.00 4,453 N X 2,025 0 2,428
MORGAN J.P. & CO INC COMMON 616880100 1,896,937.00 14,398 N X 14,398 0 0
MORGAN STANLEY DEAN WITTER COMMON 617446448 2,398,071.00 28,936 N X 28,936 0 0
MOTOROLA INC COMMON 620076109 423,400.00 2,900 N X 2,500 0 400
NETWORK APPLIANCE CORPORAT COMMON 64120L104 206,875.00 2,500 N X 0 0 2,500
NEW SKY COMMUNICATIONS OTC 648726107 1,550.00 10,000 N X 0 0 10,000
NEWS COPR LTD ADR COMMON 652487703 562,500.00 10,000 N X 0 0 10,000
NEXTEL COMMUNICATIONS INC COMMON 65332V103 593,000.00 4,000 N X 4,000 0 0
NIPPON TELEGRAPH & TELE COMMON OA6641373 227,093.00 25 N X 0 0 25
NOKIA CORP COMMON 654902204 2,985,900.00 13,450 N X 350 0 13,100
NOKIA CORP COMMON 654902204 410,700.00 1,850 N X 200 0 1,650
NOMURA SECURITIES CO LTD COMMON OA6643108 671,500.00 50,000 N X 0 0 50,000
NTL INCORPORATED COMMON 629407107 7,215,221.00 77,740 N X 55,212 0 22,528
NTL INCORPORATED COMMON 629407107 1,522,126.00 16,400 N X 7,800 0 8,600
OMNICOM GROUP INC. COMMON 681919106 234,063.00 2,500 N X 2,500 0 0
ON ASSIGNMENT INC OTC 682159108 360,000.00 8,000 N X 0 0 8,000
ORACLE SYS CORP OTC 68389X105 296,638.00 3,800 N X 0 0 3,800
ORACLE SYS CORP OTC 68389X105 788,276.00 10,098 N X 9,448 0 650
PAYCHEX INC. OTC 704326107 1,272,713.00 24,300 N X 0 0 24,300
PAYCHEX INC. OTC 704326107 1,178,438.00 22,500 N X 0 0 22,500
PE BIOSYSTEMS GROUP COMMON 69332S102 296,062.00 3,068 N X 668 0 2,400
PEPSICO INC COMMON 713448108 38,363.00 1,100 N X 900 0 200
PEPSICO INC COMMON 713448108 428,963.00 12,300 N X 1,700 0 10,600
PETROCHINA COMPANY LIMITED COMMON 71646E100 N/A 20,000 N X 0 0 20,000
PFIZER INC COMMON 717081103 272,391.00 7,450 N X 6,400 0 1,050
PFIZER INC COMMON 717081103 902,070.00 24,672 N X 17,972 0 6,700
PHARMACIA & UPJOHN, Inc. C COMMON 716941109 1,930,180.00 32,440 N X 26,390 0 6,050
PHARMACIA & UPJOHN, Inc. C COMMON 716941109 29,750.00 500 N X 500 0 0
PHILIP MORRIS CO. INC. COMMON 718154107 4,225.00 200 N X 0 0 200
PHILIP MORRIS CO. INC. COMMON 718154107 823,875.00 39,000 N X 39,000 0 0
PMC-SIERRA INC OTC 69344F106 203,688.00 1,000 N X 0 0 1,000
PROCTER & GAMBLE COMPANY COMMON 742718109 311,541.00 5,514 N X 5,514 0 0
PROCTER & GAMBLE COMPANY COMMON 742718109 563,983.00 9,982 N X 9,190 0 792
PROLOGIS TRUST COMMON 743410102 762,300.00 39,600 N X 34,900 0 4,700
PROLOGIS TRUST COMMON 743410102 1,678,600.00 87,200 N X 85,200 0 2,000
PSINET INC COMMON 74437C101 374,172.00 11,000 N X 0 0 11,000
QRS CORP COMMON 74726X105 331,100.00 4,400 N X 0 0 4,400
QUANTA SERVICES INC COMMON 74762E102 242,750.00 4,000 N X 0 0 4,000
QWEST COMMUNICATIONS INTL COMMON 749121109 24,000.00 500 N X 400 0 100
QWEST COMMUNICATIONS INTL COMMON 749121109 393,600.00 8,200 N X 8,200 0 0
REUTERS GROUP PLC ADR COMMON 76132M102 4,833,613.00 40,491 N X 38,786 0 1,705
REUTERS GROUP PLC ADR COMMON 76132M102 7,624,685.00 63,872 N X 57,391 0 6,481
RF MICRO DEVICES INC. COMMON 749941100 403,125.00 3,000 N X 3,000 0 0
ROYAL DUTCH PETROLEUM PAR COMMON 780257804 456,719.00 7,900 N X 7,900 0 0
ROYAL DUTCH PETROLEUM PAR COMMON 780257804 742,255.00 12,839 N X 10,839 0 2,000
SAFEWAY INC COMMON 786514208 362,000.00 8,000 N X 8,000 0 0
SANMINA CORP. COMMON 800907107 2,297,125.00 34,000 N X 15,100 0 18,900
SANMINA CORP. COMMON 800907107 94,587.00 1,400 N X 500 0 900
SBC COMMUNICATIONS, INC. COMMON 78387G103 255,910.00 6,075 N X 5,373 0 702
SBC COMMUNICATIONS, INC. COMMON 78387G103 705,636.00 16,751 N X 14,835 0 1,916
SCHERING PLOUGH CORP COMMON 806605101 412,088.00 11,100 N X 5,600 0 5,500
SCHERING PLOUGH CORP COMMON 806605101 769,601.00 20,730 N X 17,880 0 2,850
SCHLUMBERGER COMMON 806857108 167,076.00 2,184 N X 2,084 0 100
SCHLUMBERGER COMMON 806857108 986,850.00 12,900 N X 12,500 0 400
SCHWAB (CHARLES) CORP. COMMON 808513105 306,788.00 5,400 N X 5,400 0 0
SDL INC COMMON 784076101 340,600.00 1,600 N X 0 0 1,600
SDL INC COMMON 784076101 10,644.00 50 N X 0 0 50
SIEMENS AG COMMON 826197402 288,020.00 2,000 N X 0 0 2,000
SMITHKLINE BEECHAM PLC ADR COMMON 832378301 792,750.00 12,000 N X 6,000 0 6,000
SOLECTRON CORP COMMON 834182107 75,181,892.00 1,873,692 N X 1,467,008 0 406,684
SOLECTRON CORP COMMON 834182107 35,007,699.00 872,466 N X 692,092 0 180,374
STATE STREET CORP COMMON 857477103 66,897,807.00 690,558 N X 564,468 0 126,090
STATE STREET CORP COMMON 857477103 41,880,225.00 432,312 N X 361,986 0 70,326
STRYKER CORP OTC 863667101 265,050.00 3,800 N X 0 0 3,800
SUMITOMO ELECTRIC INDUSTRI COMMON J77411114 2,780,000.00 20,000 N X 0 0 20,000
SUN MICROSYSTEM INC OTC 866810104 2,689,748.00 28,705 N X 15,110 0 13,595
SUN MICROSYSTEM INC OTC 866810104 3,392,054.00 36,200 N X 2,100 0 34,100
SYKES ENTERPRISES INC COMMON 871237103 4,467,297.00 234,350 N X 166,350 0 68,000
SYKES ENTERPRISES INC COMMON 871237103 336,454.00 17,650 N X 7,050 0 10,600
SYMBOL TECHNOLOGIES INC COMMON 871508107 353,944.00 4,300 N X 0 0 4,300
TANDY BRANDS ACCESSORIES I OTC 875378101 94,124.00 10,757 N X 10,757 0 0
TANDY CORP COMMON 875382103 304,500.00 6,000 N X 6,000 0 0
TANGER FACTORY OUTLET CTRS COMMON 875465106 191,875.00 10,000 N X 10,000 0 0
TANGER FACTORY OUTLET CTRS COMMON 875465106 63,319.00 3,300 N X 3,300 0 0
TARGET CORP COMMON 87612E106 403,650.00 5,400 N X 5,400 0 0
TELEFONICA DE ESPANA SA AD COMMON 879382208 213,010.00 2,864 N X 2,864 0 0
TELEFONICA DE ESPANA SA AD COMMON 879382208 297,500.00 4,000 N X 0 0 4,000
TIME WARNER INC COMMON 887315109 480,000.00 4,800 N X 4,800 0 0
TIME WARNER INC COMMON 887315109 1,720,000.00 17,200 N X 12,200 0 5,000
TRANSATLANTIC HOLDINGS INC COMMON 893521104 28,643.00 335 N X 335 0 0
TRANSATLANTIC HOLDINGS INC COMMON 893521104 342,000.00 4,000 N X 0 0 4,000
TRANSOCEAN SEDCO FOREX COMMON G90078109 5,285.00 103 N X 103 0 0
TRANSOCEAN SEDCO FOREX COMMON G90078109 1,013,986.00 19,761 N X 11,626 0 8,135
TYCO INTERNATIONAL LTD COMMON 902124106 324,610.00 6,476 N X 6,376 0 100
TYCO INTERNATIONAL LTD COMMON 902124106 601,500.00 12,000 N X 12,000 0 0
U S TR CORP NEW COM OTC 91288L105 383,129.00 2,024 N X 2,024 0 0
UNION PAC CORP COMMON 907818108 384,521.00 9,828 N X 3,828 0 6,000
VIVENDI (EX-GEN) DES EAUX COMMON 5687237 224,616.00 3,000 N X 0 0 3,000
VODAFONE AIRTOUCH PLC COMMON 92857T107 219,472.00 3,950 N X 2,750 0 1,200
VODAFONE AIRTOUCH PLC COMMON 92857T107 236,141.00 4,250 N X 4,250 0 0
WAL MART STORES INC COMMON 931142103 452,000.00 8,000 N X 8,000 0 0
WAL MART STORES INC COMMON 931142103 1,695,000.00 30,000 N X 1,000 0 29,000
WALGREEN COMPANY COMMON 931422109 1,648,000.00 64,000 N X 49,000 0 15,000
WALGREEN COMPANY COMMON 931422109 2,451,812.00 95,216 N X 95,216 0 0
WARNER LAMBERT CO COMMON 934488107 58,612.00 600 N X 300 0 300
WARNER LAMBERT CO COMMON 934488107 3,458,138.00 35,400 N X 21,600 0 13,800
WASHINGTON POST CO CL B COMMON 939640108 811,500.00 1,500 N X 0 0 1,500
WASHINGTON REAL ESTATE INV COMMON 939653101 222,750.00 14,850 N X 14,850 0 0
WEINGARTEN REALTY INC COM COMMON 948741103 293,743.00 7,993 N X 7,000 0 993
WILLIAMS COS INC COMMON 969457100 1,142,375.00 26,000 N X 10,000 0 16,000
YAHOO! INC COMMON 984332106 1,028,250.00 6,000 N X 0 0 6,000
YAHOO! INC COMMON 984332106 154,238.00 900 N X 900 0 0
====================================================================================================================================
Total: 248 Market Value $284,898,766.00
====================================================================================================================================
</TABLE>
