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: National Life Insurance Company
-------------------------------
Address: One National Life Drive
-------------------------------
Montpelier, VT 05604
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Form 13F File Number: 28-2697
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: Joyce B. LaRosa
--------------------
Title: Assistant Controller
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Phone: 802-229-7433
--------------------
Signature, Place, and Date of Signing:
/s/ Joyce B. LaRosa Montpelier, Vermont May 10, 2000
---------------------------- ------------------------ -----------------
[Signature] [City, State] [Date]
Report Type (Check only one.):
[ XX ] 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:
[If there are no entries in this list, omit this section.]
NONE
<PAGE>
Form 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers: 3
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Form 13F Information Table Entry Total: 604
--------------
Form 13F Information Table Value Total: $ 2,964,957
--------------
(thousands)
List of other Included Managers:
Provide a numbered list of the name(s) and Form 13F file number(s) of all
institutional investment managers with respect to which this report is filed,
other than the manager filing this report.
[If there are no entries in this list, state "NONE" and omit the column headings
and list entries.]
No. Form 13F File Number Name
--- -------------------- ----
01 28-02697-03 NL Capital Management, Inc.
02 28-02697-01 Sentinel Advisors Company
03 28-02697-02 National Life Investment Management, Inc.
<PAGE>
<TABLE>
<CAPTION>
FORM 13F INFORMATION TABLE
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
- -------------- -------------- ----- -------- ------- --- ---- ---------- -------- ---- ------- ----
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
AAR CORP. COM 000361105 2470 148000 SHR SOLE 2 148000
ADC TELECOMUNICATIONS COM 000886101 212 3940 SHR SOLE 2 3940
ABN AMRO HOLDING NV ADR 000937102 40 1780 SHR SOLE 2 1780
ABM INDUSTRIES INC. COM 000957100 1058 45000 SHR SOLE 2 45000
AT&T CORP. COM 001957109 37580 668014 SHR SOLE 1,2 668014
AT&T CORP LIBERTY MEDIA COM 001957208 385 6500 SHR SOLE 2 6500
ABBOTT LABORATORIES COM 002824100 1395 39635 SHR SOLE 1,2 39635
ACXIOM CORP. COM 005125109 4921 148000 SHR SOLE 2 148000
ADELPHIA COMMUNCIATIONS PFD 006848303 702 6500 SHR SOLE 2 6500
ADMINISTAFF INC COM 007094105 6162 157000 SHR SOLE 2 157000
ADOBE SYSTEMS INC. COM 00724F101 205 1844 SHR SOLE 1,2 1844
AFFILIATED COMPUTER
SERVICES, INC. COM 008190100 5692 149800 SHR SOLE 1,2 149800
AFFYMETRIX INC COM 00826T108 289 1950 SHR SOLE 2 1950
AKZO NOBEL NV ADR 010199305 33 755 SHR SOLE 2 755
ALBERTO-CULVER CO CLASS COM 013068200 1641 75000 SHR SOLE 2 75000
ALBERTSON'S, INC. COM 013104104 164 5300 SHR SOLE 1 5300
ALCOA INC. COM 013817101 34546 491765 SHR SOLE 1,2 491765
ALCATEL ALSTHOM ADR ADR 013904305 2629 60005 SHR SOLE 2 60005
ALLEGIANCE TELECOM INC COM 01747T102 387 4800 SHR SOLE 2 4800
ALLERGAN, INC. COM 018490102 83 1662 SHR SOLE 2 1662
ALLSTATE CORP COM 020002101 377 15815 SHR SOLE 2 15815
ALLTEL CORPORATION COM 020039103 19923 315900 SHR SOLE 1,2 315900
ALPHA INDUSTRIES, INC. COM 020753109 4323 45500 SHR SOLE 2 45500
ALTERA CORP COM 021441100 553 6200 SHR SOLE 2 6200
AMEREN CORP. COM 023608102 35 1133 SHR SOLE 1 1133
AMERICA ONLINE INC. COM 02364J104 2020 30043 SHR SOLE 1,2 30043
AMERICAN ELEC. POWER COM 025537101 10 349 SHR SOLE 1 349
AMERICAN EXPRESS CO. COM 025816109 32543 218498 SHR SOLE 1,2 218498
AMERICAN GENERAL CORP. COM 026351106 28819 513479 SHR SOLE 1,2 513479
AMERICAN HOMES PRODUCTS
CORP. COM 026609107 68518 1277463 SHR SOLE 1,2 1277463
AMERICAN INTERNATIONAL
GROUP, INC COM 026874107 62206 568095 SHR SOLE 1,2 568095
AMERICAN MGMT SYS INC. COM 027352103 2585 59000 SHR SOLE 2 59000
AMERICAN MOBILE SATELLIT COM 02755R103 108 4500 SHR SOLE 2 4500
AMERICAN MOBILE SATELLIT WNT 02755R103 80 1000 SHR SOLE 2 1000
AMES DEPARTMENT STORES COM 030789507 491 20000 SHR SOLE 2 20000
AMGEN INC. COM 031162100 2229 36318 SHR SOLE 1,2 36318
ANALOG DEVICES INC. COM 032654105 7014 87081 SHR SOLE 1,2 87081
ANALYSTS INTERNATIONAL
CORP. COM 032681108 286 29000 SHR SOLE 2 29000
ANHEUSER-BUSCH COS INC COM 035229103 379 6092 SHR SOLE 2 6092
APCO ARGENTINA INC ADR 037489101 88 2700 SHR SOLE 2 2700
APPLEBEES INTERNATIONAL COM 037899101 2109 75000 SHR SOLE 2 75000
APPLIED MATLS INC COM 038222105 7165 76021 SHR SOLE 2 76021
APPLIED POWER INC. COM 038225108 5000 175422 SHR SOLE 2 175422
APPLIED MICRO CIRCUITS C COM 03822W109 720 4800 SHR SOLE 2 4800
APTARGROUP INC COM 038336103 3950 148000 SHR SOLE 2 148000
ARCHSTONE COMMUNITIES
TRUST COM 039581103 12 610 SHR SOLE 2 610
ARIBA, INC COM 04033V104 3333 15900 SHR SOLE 2 15900
ASPECT DEVELOPMENT INC COM 045234101 341 5300 SHR SOLE 2 5300
ASTRAZENECA PLC ADR 046353108 65 1597 SHR SOLE 2 1597
ATLANTIC RICHFIELD CO. COM 048825103 77 900 SHR SOLE 1,2 900
AUTOMATIC DATA
PROCESSING,INC. COM 053015103 23026 477221 SHR SOLE 1,2 477221
AVALONBAY COMMUNITIES
INC COM 053484101 4 109 SHR SOLE 2 109
AVERY DENNISON CORP COM 053611109 89 1456 SHR SOLE 2 1456
AVON PRODUCTS COM 054303102 90 3101 SHR SOLE 2 3101
AXA ADR 054536107 28 386 SHR SOLE 2 386
BASF AG ADR 055262505 128 2697 SHR SOLE 2 2697
BCE, INCORPORATED COM 05534B109 2408 19200 SHR SOLE 1,2 19200
BP AMOCO PLC ADR 055622104 623 11706 SHR SOLE 1,2 11706
BMC SOFTWARE INC COM 055921100 158 3199 SHR SOLE 2 3199
BANK OF AMERICA CORP. COM 060505104 28301 539712 SHR SOLE 1,2 539712
BANK OF NEW YORK, INC COM 064057102 52977 1274646 SHR SOLE 1,2 1274646
BANK ONE CORP. COM 06423A103 35 1010 SHR SOLE 1 1010
BANK OF TOKYO-MITSUBISHI ADR 065379109 42 2952 SHR SOLE 2 2952
BANKNORTH GROUP COM 06646L100 402 14998 SHR SOLE 1 14998
BARR LABS INC. COM 068306109 6804 162000 SHR SOLE 2 162000
BAXTER INTL INC COM 071813109 28986 462391 SHR SOLE 1,2 462391
BAYER AG ADR 072730302 41 903 SHR SOLE 2 903
BECTON DICKINSON & CO. COM 075887109 18135 689200 SHR SOLE 1,2 689200
BED, BATH & BEYOND INC. COM 075896100 1648 41850 SHR SOLE 2 41850
BELL ATLANTIC CORP. COM 077853109 1529 25022 SHR SOLE 1,2 25022
BELLSOUTH CORP. COM 079860102 1038 22144 SHR SOLE 1,2 22144
BEMIS COMPANY COM 081437105 6744 182900 SHR SOLE 1,2 182900
BEN & JERRY'S HOMEMADE
CL A COM 081465106 3 100 SHR SOLE 1 100
BERKSHIRE HATHAWAY INC.
CL B COM 084670207 235 129 SHR SOLE 1 129
BEST BUY INCORPORATED COM 086516101 16151 187808 SHR SOLE 1,2 187808
BESTFOODS, INC. COM 08658U101 37423 799419 SHR SOLE 1,2 799419
BIOGEN INC COM 090597105 4768 68242 SHR SOLE 2 68242
BIOMET INC. COM 090613100 55 1500 SHR SOLE 1 1500
BLACK BOX CORP. COM 091826107 3739 54000 SHR SOLE 2 54000
BOEING CO. COM 097023105 9134 240800 SHR SOLE 1,2 240800
BRISTOL-MYERS SQUIBB CO COM 110122108 16218 280523 SHR SOLE 1,2 280523
BRITISH AIRWAYS PLC ADR 110419306 1366 25412 SHR SOLE 2 25412
BRITISH TELECOMM PLC ADR 111021408 3513 18676 SHR SOLE 2 18676
BROADCOM CORP-CL A COM 111320107 6752 27799 SHR SOLE 2 27799
BROCADE COMMUNICATIONS S COM 111621108 932 5200 SHR SOLE 2 5200
BURLINGTON NORTHERN
SANTA FE CORP. COM 12189T104 158 6950 SHR SOLE 1 6950
BURLINGTON RESOURCES,
INC. COM 122014103 30551 825708 SHR SOLE 1,2 825708
BURR-BROWN CORP. COM 122574106 3263 60000 SHR SOLE 2 60000
BUSH BOAKE ALLEN, INC. COM 123162109 3363 120900 SHR SOLE 1,2 120900
C-COR.NET CORPORATION COM 125010108 2205 45000 SHR SOLE 2 45000
C-CUBE MICROSYSTEMS INC COM 125015107 6352 87233 SHR SOLE 2 87233
CH ROBINSON WORLDWIDE
INC COM 12541W100 5968 160226 SHR SOLE 2 160226
CSC HOLDINGS INC PFD 126304401 1077 10046 SHR SOLE 2 10046
CSX CORPORATION COM 126408103 19 800 SHR SOLE 1,2 800
CTS CORPORATION COM 126501105 3123 54789 SHR SOLE 1,2 54789
CABLE & WIRELESS PLC ADR 126830207 11 200 SHR SOLE 1 200
CABLE DESIGN TECH CORP COM 126924109 5871 173000 SHR SOLE 2 173000
CABOT CORPORATION COM 127055101 216 7090 SHR SOLE 1 7090
CACI INTL. INC. COM 127190304 2156 72000 SHR SOLE 2 72000
CAL DIVE INTL INC COM 127914109 12708 250408 SHR SOLE 2 250408
CALIPER TECHNOLOGIES COR COM 130876105 154 1900 SHR SOLE 2 1900
CALPINE CORPORATION COM 131347106 5536 58889 SHR SOLE 2 58889
CAMBREX CORPORATION COM 132011107 10923 251114 SHR SOLE 1,2 251114
CAMPBELL SOUP COMPANY COM 134429109 282 9169 SHR SOLE 1,2 9169
CANON INC ADR 138006309 91 2117 SHR SOLE 2 2117
CARBO CERAMICS INC COM 140781105 1266 45000 SHR SOLE 2 45000
CARLTON COMM PLC ADR 142872209 42 714 SHR SOLE 2 714
CARRAMERICA REALTY CORP COM 144418100 14 680 SHR SOLE 2 680
CASEYS GEN STORE COM 147528103 1610 148000 SHR SOLE 2 148000
CATALINA MARKETING CORP. COM 148867104 2268 22400 SHR SOLE 1,2 22400
CATERPILLAR INC. COM 149123101 8 200 SHR SOLE 1 200
CEDAR FAIR, L.P. COM 150185106 30 1500 SHR SOLE 1 1500
CELL THERAPEUTICS INC COM 150934107 680 29000 SHR SOLE 2 29000
CELGENE CORP. COM 151020104 139 1400 SHR SOLE 2 1400
CENDANT CORP. COM 151313103 17 900 SHR SOLE 1 900
CENTURI INC. COM 156410102 0 3000 SHR SOLE 1 3000
CENTURYTEL, INC. COM 156700106 31 843 SHR SOLE 1 843
CEPHALON INC COM 156708109 128 3400 SHR SOLE 2 3400
CHALONE WINE GROUP LTD COM 157639105 0 20 SHR SOLE 2 20
CHASE MANHATTEN CORP. COM 16161A108 37749 432960 SHR SOLE 1,2 432960
CHATEAU COMMUNITIES INC COM 161726104 4390 172152 SHR SOLE 1,2 172152
CHEVRON OIL COM 166751107 30839 333620 SHR SOLE 1,2 333620
CHIREX, INC. COM 170038103 2272 118000 SHR SOLE 2 118000
CHIRON CORPORATION COM 170040109 5486 110000 SHR SOLE 2 110000
CHITTENDEN CORP. COM 170228100 102 3433 SHR SOLE 1 3433
CHUBB CORP. COM 171232101 547 8100 SHR SOLE 1 8100
CIBER INC. COM 17163B102 2276 111000 SHR SOLE 2 111000
CINCINNATI FINANCIAL
CORP. COM 172062101 98 2602 SHR SOLE 1 2602
CISCO SYSTEMS INC. COM 17275R102 12368 159971 SHR SOLE 1,2 159971
CITIGROUP, INC. COM 172967101 56117 945119 SHR SOLE 1,2 945119
CITRIX SYSTEMS COM 177376100 159 2400 SHR SOLE 2 2400
CLAIRE'S STORES INC. COM 179584107 742 37000 SHR SOLE 2 37000
CLEAR CHANNEL COMMUNICAT COM 184502102 849 12300 SHR SOLE 2 12300
COASTAL CORP COM 190441105 0 9 SHR SOLE 2 9
COCA-COLA CO. COM 191216100 1861 39642 SHR SOLE 1,2 39642
COLGATE-PALMOLIVE CO COM 194162103 462 8194 SHR SOLE 1,2 8194
THE COLONEL'S INT'L. COM 195405105 1 100 SHR SOLE 1 100
COLORADO MEDTECH,INC. COM 19652U104 1166 148000 SHR SOLE 2 148000
COLUMBIA/HCA HEALTHCARE,
CORP. COM 197677107 10741 424340 SHR SOLE 1,2 424340
COMCAST CORP. CL A COM 200300101 17 400 SHR SOLE 1 400
COMCAST CORP. SPECIAL
CLASS A COM 200300200 15965 368070 SHR SOLE 1,2 368070
COMMERCE ONE INC COM 200693109 612 4100 SHR SOLE 2 4100
COMMUNITY BANCORP INC/VT COM 20343A101 3 308 SHR SOLE 1 308
COMPAQ COMPUTER CORP. COM 204493100 11014 413490 SHR SOLE 1,2 413490
COMPASS BANCSHARES COM 20449H109 100 5000 SHR SOLE 1 5000
COMPTEK RESEARCH INC COM 204682108 22 1600 SHR SOLE 2 1600
COMPUTER ASSOCIATES INTL
INC COM 204912109 20675 349315 SHR SOLE 1,2 349315
COMPUWARE CORP COM 205638109 99 4681 SHR SOLE 2 4681
COMVERSE TECHNOLOGY COM 205862402 198 1050 SHR SOLE 2 1050
CONDUCTUS INC COM 206784100 234 7200 SHR SOLE 2 7200
CONEXANT SYSTEMS INC. COM 207142100 3954 55690 SHR SOLE 2 55690
CONNECTICUT LHT & PWR PFD 207597774 7 168 SHR SOLE 1 168
CONOCO INC. CLASS A COM 208251306 615 24965 SHR SOLE 1 24965
CONOCO, INC. CL B COM 208251405 24605 960199 SHR SOLE 1,2 960199
CONVERGYS CORPORATION COM 212485106 16612 430054 SHR SOLE 1,2 430054
CORNING INC. COM 219350105 1287 6636 SHR SOLE 1,2 6636
CORUS GROUP PLC ADR 22087M101 1291 77091 SHR SOLE 2 77091
COSTCO WHSL CORP COM 22160K105 406 7733 SHR SOLE 1,2 7733
COUSINS PROPERTIES INC COM 222795106 20 535 SHR SOLE 2 535
COVANCE INC. COM 222816100 1591 148000 SHR SOLE 2 148000
COX COMMUNICATIONS INC COM 224044107 398 8207 SHR SOLE 2 8207
CROWN CASTLE INT'L CORP PFD 228227302 782 7739 SHR SOLE 2 7739
GLOBAL CROSSING LTD. COM 228506500 66 1600 SHR SOLE 1 1600
CULLEN/FROST BANKERS,
INC. COM 229899109 608 23000 SHR SOLE 2 23000
CURAGEN CORP. COM 23126R101 496 10600 SHR SOLE 2 10600
DPL INC COM 233293109 60 2700 SHR SOLE 2 2700
DQE INC. COM 23329J104 25 559 SHR SOLE 1 559
DAI NIPPON PRINT ADR 233806207 36 221 SHR SOLE 2 221
DALLAS SEMICONDUCTOR
CORP COM 235204104 10907 310183 SHR SOLE 2 310183
DELL COMPUTER CORP COM 247025109 2089 38723 SHR SOLE 2 38723
DELPHI AUTOMOTIVE
SYSTEMS CORP. COM 247126105 3 190 SHR SOLE 1 190
DELUXE CORP COM COM 248019101 89 3349 SHR SOLE 2 3349
DEN DANSKE BANK ADR 248206203 30 291 SHR SOLE 2 291
DEUTSCHE BANK ADR 251525309 27 404 SHR SOLE 2 404
DEVELOPERS DIVERS REALTY
CRP COM 251591103 10 705 SHR SOLE 2 705
DEVON ENERGY CORPORATION COM 25179M103 7 140 SHR SOLE 1 140
DIAGNOSTIC PRODUCTS CORP. COM 252450101 538 22000 SHR SOLE 2 22000
DIGITAL ISLAND INC COM 25385N101 280 4600 SHR SOLE 2 4600
WALT DISNEY CO COM 254687106 15691 379335 SHR SOLE 1,2 379335
DIVERSA CORP. COM 255064107 2416 51400 SHR SOLE 2 51400
DOMINION RESOURCES INC COM 25746U109 2 49 SHR SOLE 1 49
DONALDSON COMPANY, INC. COM 257651109 2685 119000 SHR SOLE 2 119000
DOVER CORP. COM 260003108 25077 523799 SHR SOLE 1,2 523799
DOW CHEMICAL COMPANY COM 260543103 11 100 SHR SOLE 1 100
DOW JONES & CO INC COM 260561105 86 1197 SHR SOLE 2 1197
EI DUPONT DE NEMOURS
& CO COM 263534109 17577 332361 SHR SOLE 1,2 332361
DUFF & PHELPS CREDIT
RATING CO COM 26432F109 5084 51000 SHR SOLE 2 51000
DUKE ENERGY CORPORATION COM 264399106 47055 896280 SHR SOLE 1,2 896280
DUKE REALTY INVESTMENTS
INC COM 264411505 16 850 SHR SOLE 2 850
DUN & BRADSTREET COM 26483B106 60 2089 SHR SOLE 2 2089
DYNATECH CORPORATION COM 268140100 354 24500 SHR SOLE 2 24500
DYNERGY INC COM 26816Q101 50 800 SHR SOLE 2 800
EGL INC. COM 268484102 1123 48029 SHR SOLE 2 48029
EMC CORP. COM 268648102 5381 43046 SHR SOLE 2 43046
ENI SPA ADR 26874R108 1551 30562 SHR SOLE 2 30562
EOG RESOURCES, INC. COM 26875P101 5625 265500 SHR SOLE 1,2 265500
E-TEK DYNAMICS INC COM 269240107 518 2200 SHR SOLE 2 2200
EARTHLINK, INC. COM 270321102 10 500 SHR SOLE 1 500
EASTGROUP PROPERTIES COM 277276101 16 725 SHR SOLE 2 725
EASTMAN KODAK CO. COM 277461109 22 400 SHR SOLE 1 400
ECHOSTAR COMMUNICATIONS COM 278762109 569 7200 SHR SOLE 2 7200
ECOLAB INC COM 278865100 29 800 SHR SOLE 2 800
EFFICIENT NETWORKS INC COM 282056100 436 2800 SHR SOLE 2 2800
EISAI CO LTD ADR 282579309 5 190 SHR SOLE 2 190
ELECTRONIC DATA SYSTEMS
CORP. COM 285661104 38058 592912 SHR SOLE 1,2 592912
EMERSON ELECTRIC COM 291011104 512 9635 SHR SOLE 1 9635
ENDESA ADR 29258N107 2569 109605 SHR SOLE 2 109605
ENHANCE FINANCIAL SVCS.
GROUP COM 293310108 1257 89000 SHR SOLE 2 89000
ENRON CORP. COM 293561106 64958 867553 SHR SOLE 1,2 867553
ENTERGY CORPORATION COM 29364G103 16 800 SHR SOLE 1 800
ENTRUST TECHNOLOGIES INC COM 293848107 349 4100 SHR SOLE 2 4100
EQUIFAX COM 294429105 45 1772 SHR SOLE 2 1772
EQUITY OFFICE PROP TR COM 294741103 15 579 SHR SOLE 2 579
EQUITY RESIDENTIAL PROPS
TR COM 29476L107 4 110 SHR SOLE 2 110
ERICSSON ADR 294821400 178 1900 SHR SOLE 2 1900
ETHAN ALLEN INTERIORS,
INC. COM 297602104 1253 50100 SHR SOLE 2 50100
EXODUS COMMUNICATIONS
INC. COM 302088109 843 6000 SHR SOLE 1,2 6000
EXPEDITORS INT'L COM 302130109 1153 29000 SHR SOLE 2 29000
EXTREME NETWORKS INC. COM 30226D106 3476 44000 SHR SOLE 2 44000
EXXON MOBIL CORP. COM 30231G102 80680 1036617 SHR SOLE 1,2 1036617
FPL GROUP,INC. COM 302571104 6258 135849 SHR SOLE 2 135849
FREDDIE MAC COM 313400301 71 1600 SHR SOLE 1 1600
FEDERAL NATL MTGE ASSN COM 313586109 2520 44544 SHR SOLE 1,2 44544
FEDERAL REALTY INVS TR COM 313747206 3 145 SHR SOLE 2 145
FIFTH THIRD BANCORP COM 316773100 297 4709 SHR SOLE 1 4709
FILENET CORP. COM 316869106 2202 74000 SHR SOLE 2 74000
FIRST DATA CORP. COM 319963104 14427 326000 SHR SOLE 1,2 326000
FIRST INDUSTRIAL REALTY
TR COM 32054K103 2 78 SHR SOLE 2 78
FIRST NAT'L COMMUNITY
BANCORP COM 32110M101 34 1210 SHR SOLE 1 1210
FIRST UNION CORP. COM 337358105 49 1310 SHR SOLE 1,2 1310
FIX-CORP INTL INC COM 33831C109 0 2500 SHR SOLE 2 2500
FLEET BOSTON FINANCIAL
CORP. COM 339030108 38 1038 SHR SOLE 1 1038
FLORIDA PROGRESS CORP. COM 341109106 69 1500 SHR SOLE 1 1500
FORD MOTOR CO. COM 345370100 44389 966292 SHR SOLE 1,2 966292
FOREST LABS COM 345838106 3718 44000 SHR SOLE 2 44000
FOUNDRY NETWORKS INC COM 35063R100 129 900 SHR SOLE 2 900
FREEPORT MCMORAN COPPER COM 35671D857 26 2118 SHR SOLE 2 2118
FUJI PHOTO FILM ADR 359586302 66 1502 SHR SOLE 2 1502
GTE CORPORATION COM 362320103 56585 796967 SHR SOLE 1,2 796967
GAINSCO INC. COM 363127101 1 100 SHR SOLE 1 100
GALLAHER GROUP PLC ADR 363595109 6 300 SHR SOLE 2 300
GAP STORES COM 364760108 559 11227 SHR SOLE 1,2 11227
GARDNER DENVER, INC. COM 365558105 1392 74000 SHR SOLE 2 74000
GARTNER GROUP INC -
CLASS B COM 366651206 10 722 SHR SOLE 1 722
GATEWAY COMPUTER COM 367626108 219 4125 SHR SOLE 2 4125
GENE LOGIC INC COM 368689105 425 10100 SHR SOLE 2 10100
GENENTECH INC COM 368710406 441 2900 SHR SOLE 2 2900
GENERAL ELECTRIC COMPANY COM 369604103 57117 367744 SHR SOLE 1,2 367744
GENERAL GROWTH PPTYS INC COM 370021107 4 145 SHR SOLE 2 145
GENERAL MILLS INC. COM 370334104 221 6116 SHR SOLE 1,2 6116
GENERAL MOTORS CORP. COM 370442105 39 472 SHR SOLE 1,2 472
GENZYME CORP.-GEN DIV COM 372917104 14707 293400 SHR SOLE 1,2 293400
GIGA-TRONICS INC COM 375175106 11 1000 SHR SOLE 2 1000
GILLETTE COMPANY COM 375766102 2327 61740 SHR SOLE 1,2 61740
GLAXO WELLCOME PLC ADR 37733W105 2075 36200 SHR SOLE 1,2 36200
GLOBAL CROSSING PFD 37932J301 972 4000 SHR SOLE 2 4000
GLOBAL MARINE INC. COM 379352404 12071 475700 SHR SOLE 1,2 475700
GLOBECOMM SYSTEMS INC COM 37956X103 80 3000 SHR SOLE 2 3000
GOODRICH CO., B.F. COM 382388106 2427 84591 SHR SOLE 1,2 84591
W.R. GRACE & CO. COM 38388F108 11 898 SHR SOLE 2 898
GRANITE STATE BANKSHARES COM 387472103 57 3750 SHR SOLE 1 3750
GREAT LAKES REIT INC COM 390752103 15 967 SHR SOLE 2 967
GREAT WESTERN FINL PFD 39141F203 36 1610 SHR SOLE 1 1610
GLOBALSTAR TELE-
COMMUNICATIONS COM 3930H1043 6 400 SHR SOLE 1 400
GRUPO TELEVISA SA ADR 40049J206 1700 25000 SHR SOLE 2 25000
GUIDANT CORP COM 401698105 237 4025 SHR SOLE 2 4025
HCC INSURANCE HOLDINGS COM 404132102 2915 220000 SHR SOLE 2 220000
HSBC HOLDINGS PLC ADR 404280406 77 1265 SHR SOLE 2 1265
HSB GROUP INC. COM 40428N109 2662 92000 SHR SOLE 2 92000
HALLIBURTON COMPANY COM 406216101 35135 856814 SHR SOLE 1,2 856814
HARLEY DAVIDSON INC COM 412822108 158 1990 SHR SOLE 2 1990
HARMAN INTL INDS INC COM 413086109 4440 74000 SHR SOLE 2 74000
HEALTHCARE SVCS GCES GRO COM 421906108 742 136500 SHR SOLE 2 136500
HEINZ, H. J. COM 423074103 354 10144 SHR SOLE 1,2 10144
HELMERICH & PAYNE,INC. COM 423452101 1364 44000 SHR SOLE 2 44000
HEWLETT-PACKARD, INC. COM 428236103 29711 224005 SHR SOLE 1,2 224005
HILTON HOTELS CORP COM 432848109 37 4808 SHR SOLE 2 4808
HITACHI LTD ADR 433578507 77 630 SHR SOLE 1,2 630
HOME DEPOT,INC. COM 437076102 11323 175553 SHR SOLE 1,2 175553
HOME PROPERTIES OF NY
INC COM 437306103 13 475 SHR SOLE 2 475
HONDA MOTOR CO LTD ADR 438128308 20 248 SHR SOLE 2 248
HONEYWELL INTL INC COM 438516106 1239 23525 SHR SOLE 1,2 23525
HOTEL RESERVATIONS NTWK COM 441451101 1471 82900 SHR SOLE 2 82900
HUMAN GENOME SCIENCES
INC COM 444903108 2173 26163 SHR SOLE 2 26163
HYSEQ, INC. COM 449163302 884 19800 SHR SOLE 2 19800
IDG BOOKS WORLDWIDE,
INC.* COM 449384106 667 58000 SHR SOLE 2 58000
IDX SYSTEMS CORPORATION COM 449491109 8 300 SHR SOLE 1 300
IMS HEALTH INC. COM 449934108 159 9413 SHR SOLE 1,2 9413
IRT PROPERTY CO COM 450058102 4 440 SHR SOLE 2 440
IDACORP INC COM 451107106 76 2200 SHR SOLE 2 2200
ILLINOIS TOOL WORKS COM 452308109 66 1200 SHR SOLE 1,2 1200
IMATION CORP COM 45245A107 1 40 SHR SOLE 2 40
INCYTE PHARMACEUTICALS
INC COM 45337C102 1428 16413 SHR SOLE 2 16413
INFOSPACE COM INC COM 45678T102 684 4700 SHR SOLE 2 4700
ING GROEP NV ADR 456837103 58 1049 SHR SOLE 2 1049
INKTOMI CORP COM 457277101 3666 18800 SHR SOLE 2 18800
INTEGRAL SYSTEMS INC/MD COM 45810H107 563 12500 SHR SOLE 2 12500
INTEL CORPORATION COM 458140100 33183 251504 SHR SOLE 1,2 251504
INTERNAP NETWORK
SERVICES CORP. COM 45885A102 9 200 SHR SOLE 1 200
INTERNATIONAL BUSINESS
MACHINES CORP. COM 459200101 57497 487264 SHR SOLE 1,2 487264
INTL PAPER CO COM 460146103 40705 952166 SHR SOLE 1,2 952166
INTERPUBLIC GROUP COS. COM 460690100 171 3628 SHR SOLE 2 3628
INTERSIL HLDG CORP COM 46069S109 207 4000 SHR SOLE 2 4000
INVITROGEN CORP COM 46185R100 842 14500 SHR SOLE 2 14500
ITO-YOKADO CO LTD ADR 465714301 21 277 SHR SOLE 2 277
I2 TECHNOLOGIES INC COM 465754109 195 1600 SHR SOLE 2 1600
JDS UNIPHASE CORP. COM 46612J101 3331 27632 SHR SOLE 2 27632
JACK IN THE BOX INC. COM 466367109 3154 148000 SHR SOLE 2 148000
JEFFERSON-PILOT CORP. COM 475070108 21293 319900 SHR SOLE 2 319900
JOHNSON & JOHNSON COM 478160104 35677 509062 SHR SOLE 1,2 509062
JOHNSON CONTROLS INC COM 478366107 3 60 SHR SOLE 2 60
JONES PHARMA INC. COM 480236108 4511 148500 SHR SOLE 2 148500
JOSTENS INC. COM 481088102 9 369 SHR SOLE 2 369
JUNIPER NETWORKS, INC. COM 48203R104 1450 5500 SHR SOLE 2 5500
KLA TENCOR CORP. COM 482480100 2443 29000 SHR SOLE 2 29000
K-TROM INTL INC COM 482730108 24 1500 SHR SOLE 2 1500
K2 INC. COM 482732104 0 30 SHR SOLE 1 30
KANA COMMUNICATIONS COM 483600102 95 1400 SHR SOLE 2 1400
KELLOGG CO. COM 487836108 162 6312 SHR SOLE 1,2 6312
KELLWOOD CO. COM 488044108 7 400 SHR SOLE 1 400
KEYCORP COM 493267108 432 22742 SHR SOLE 1 22742
KEYSPAN CORPORATION COM 49337W100 0 1 SHR SOLE 2 1
KIMBERLY-CLARKE CORP. COM 494368103 65749 1173988 SHR SOLE 1,2 1173988
KINDER MORGAN ENERGY
PARTNERS COM 494550106 113 2850 SHR SOLE 1 2850
KOHL'S CORP COM 500255104 217 2118 SHR SOLE 2 2118
PHILIPS ELECTRONICS NV ADR 500472204 11625 67858 SHR SOLE 1,2 67858
KOREA TELECOM CORP ADR 50063P103 1531 35000 SHR SOLE 2 35000
KROGER CO. COM 501044101 34178 1946077 SHR SOLE 1,2 1946077
KRONOS INC. COM 501052104 859 29000 SHR SOLE 2 29000
KYOCERA CORP ADR 501556203 73 439 SHR SOLE 2 439
LSI LOGIC CORP COM 502161102 792 10900 SHR SOLE 2 10900
LAKEHEAD PIPE LINE
PARTNERS, L.P. COM 511557100 58 1675 SHR SOLE 1 1675
LANDS END DIRECT
MERCHANTS COM 515086106 396 6460 SHR SOLE 2 6460
LEXMARK INT'L GROUP INC. COM 529771107 183 1729 SHR SOLE 2 1729
LIBERATE TECHNOLOGIES COM 530129105 207 3300 SHR SOLE 2 3300
LIBERTY PRPERTY COM 531172104 2608 108961 SHR SOLE 1,2 108961
LILLY, ELI COM 532457108 6054 96125 SHR SOLE 1,2 96125
LINCOLN NATIONAL CORP. COM 534187109 20 600 SHR SOLE 1 600
LINEAR TECHNOLOGY INC COM 535678106 3146 57200 SHR SOLE 2 57200
LOWES COMPANIES COM 548661107 93 1600 SHR SOLE 2 1600
LUCENT TECHNOLOGIES, INC. COM 549463107 14822 243636 SHR SOLE 1,2 243636
MBNA CORP COM 55262L100 266 10440 SHR SOLE 2 10440
MCI WORLDCOM, INC. COM 55268B106 1719 37945 SHR SOLE 1 37945
MGI PROPERTIES COM 552885105 4 800 SHR SOLE 1 800
MACK-CALI REALTY CORP COM 554489104 20 790 SHR SOLE 2 790
BRE PROPERTIES CL A COM 5564E1128 10 390 SHR SOLE 2 390
MANOR CARE INC. COM 564055101 12204 904014 SHR SOLE 1,2 904014
MANUFACTURED HOME
COMMUNITIES, INC. COM 564682102 35 1500 SHR SOLE 1 1500
MAPINFO CORP COM 565105103 166 4250 SHR SOLE 2 4250
MARSH & MCLENNAN COS INC COM 571748102 17308 156900 SHR SOLE 1,2 156900
MARRIOTT INTERNATIONAL COM 571903202 15561 494000 SHR SOLE 2 494000
MARTIN MARIETTA
MATERIALS INC. COM 573284106 6199 130500 SHR SOLE 2 130500
MAYTAG CORP COM 578592107 34 1035 SHR SOLE 2 1035
MCCORMICK & COMPANY COM 579780206 19585 607300 SHR SOLE 2 607300
MCDONALD'S CORP. COM 580135101 105 2800 SHR SOLE 1,2 2800
MCGRAW-HILL INC COM 580645109 39536 868929 SHR SOLE 1,2 868929
MCLEODUSA INC COM 582266102 127 1500 SHR SOLE 2 1500
MECH FINANCIAL, INC. COM 583685102 13 400 SHR SOLE 1 400
MEDAREX INC COM 583916101 151 3000 SHR SOLE 2 3000
MEDIAONE GROUP INC COM 58440J104 47 585 SHR SOLE 2 585
MEDICIS PHARMACEUTICAL-
CL A COM 584690309 5280 132000 SHR SOLE 2 132000
MEDTRONIC INC. COM 585055106 3252 63228 SHR SOLE 2 63228
MENTOR CORP. COM 587188103 3996 148000 SHR SOLE 2 148000
MERCK & CO. COM 589331107 3533 56869 SHR SOLE 1,2 56869
MEREDITH CORP. COM 589433101 1606 58000 SHR SOLE 2 58000
METHODE ELECTRONICS INC
CL A COM 591520200 3737 74000 SHR SOLE 2 74000
MICREL, INC. COM 594793101 6960 72500 SHR SOLE 2 72500
MICROSOFT CORP. COM 594918104 8864 83428 SHR SOLE 1,2 83428
MICRON TECHNOLOGY INC COM 595112103 353 2800 SHR SOLE 2 2800
MILESTONE EXPLORATION
LTD. COM 599352101 0 1470 SHR SOLE 1 1470
MILLENNIUM PHRMACEUTICAL COM 599902103 2990 23023 SHR SOLE 2 23023
MILLIPORE CORP COM 601073109 34 597 SHR SOLE 2 597
MINNESOTA MINING AND
MFG. CO. COM 604059105 4560 51488 SHR SOLE 1,2 51488
MINNTECH CORP COM 604258103 975 130000 SHR SOLE 2 130000
MOBILE CLIMATE CONTROL
INDUSTRIES COM 606921310 1 1000 SHR SOLE 1 1000
MONARCH DENTAL CORP. COM 609044102 247 86000 SHR SOLE 2 86000
ROBERT MONDAVI, A COM 609200100 1569 45000 SHR SOLE 2 45000
MONSANTO CO. COM 611662107 47360 919613 SHR SOLE 1,2 919613
J.P. MORGAN & CO. COM 616880100 950 7214 SHR SOLE 1 7214
MORGAN STANLEY DEAN WITT COM 617446448 343 4200 SHR SOLE 2 4200
MOTOROLA,INC. COM 620076109 35339 247439 SHR SOLE 1,2 247439
MYRIAD GENETICS, INC. COM 62855J104 2151 35700 SHR SOLE 2 35700
NABORS INDUSTRIES COM 629568106 78 2000 SHR SOLE 1 2000
NANOGEN, INC. COM 630075109 724 21300 SHR SOLE 2 21300
NATL AUSTRALIA BK LTD ADR 632525408 47 723 SHR SOLE 2 723
NETWORKS ASSOCIATES INC COM 640938106 15477 479900 SHR SOLE 1,2 479900
NESTLE SA ADR 641069406 101 1125 SHR SOLE 1,2 1125
NETWORK APPLIANCE INC. COM 64120L104 368 4444 SHR SOLE 1,2 4444
NEW PLAN EXCEL REALTY TR COM 648053106 2 145 SHR SOLE 2 145
NEWBRIDGE NETWORKS COM 650901101 1854 57155 SHR SOLE 1 57155
NEWS CORP LTD ADR 652487703 61 1081 SHR SOLE 2 1081
NEXTEL COMMUNICATION COM 65332V103 1475 9950 SHR SOLE 2 9950
NEXTEL PARTNERS, INC. COM 65333F107 252 8700 SHR SOLE 2 8700
NEXTLINK COMMUNICATIONS COM 65333H707 7996 64643 SHR SOLE 2 64643
NINTENDO OF AMERICA INC ADR 654445303 40 1771 SHR SOLE 2 1771
NIPPON TELEC & TEL CORP COM 654624105 58 739 SHR SOLE 2 739
NISOURCE INC. COM 65473P105 130 7690 SHR SOLE 1,2 7690
NOKIA CORP COM 654902204 652 3000 SHR SOLE 2 3000
NORFOLK-SOUTHERN COM 655844108 96 6719 SHR SOLE 1,2 6719
NORTEL NETWORKS CORP. COM 656569100 14603 115840 SHR SOLE 1,2 115840
NORTH EUROPEAN OIL RTY
TR COM 659310106 7 500 SHR SOLE 2 500
NORTHERN STS PWR CO MINN COM 665772109 83 4200 SHR SOLE 2 4200
NOVARTIS AG ADR 66987V109 52 763 SHR SOLE 2 763
NOVELL INC COM 670006105 280 9775 SHR SOLE 2 9775
NOVELLUS SYSTEMS INC COM 670008101 3437 61243 SHR SOLE 2 61243
NOVO-NORDISK A/S ADR 670100205 1492 21744 SHR SOLE 2 21744
OCCIDENTAL PETROLEUM COM 674599105 5 251 SHR SOLE 1 251
OCEAN ENERGY INC. COM 67481E106 6845 476200 SHR SOLE 1,2 476200
OCEANEERING INTL INC COM 675232102 2250 120000 SHR SOLE 2 120000
OMNICOM GROUP INC COM 681919106 24066 257503 SHR SOLE 1,2 257503
ORACLE SYSTEMS CORP COM 68389X105 6983 89454 SHR SOLE 1,2 89454
ORTHODONTIC CENTERS OF
AMERICA COM 68750P103 2775 148000 SHR SOLE 2 148000
OSICOM TECHNOLOGIES INC COM 688271501 382 3400 SHR SOLE 2 3400
OWENS CORNING COM 69073F103 14 706 SHR SOLE 2 706
PE CORP COM 69332S102 696 7212 SHR SOLE 2 7212
PE CORP / CELERA GENOMIC COM 69332S201 192 2100 SHR SOLE 1,2 2100
PLX TECHNOLOGY, INC. COM 693417107 1899 51000 SHR SOLE 2 51000
PMC-SIERRA INC COM 69344F106 387 1900 SHR SOLE 2 1900
PNC FINANCIAL SERVICES
GROUP COM 693475105 50 1120 SHR SOLE 1 1120
PPL CORPORATION COM 693499105 270 12899 SHR SOLE 1 12899
PG&E CORPORATION COM 694308107 9 432 SHR SOLE 1 432
PALM INC. COM 696642107 99 2200 SHR SOLE 2 2200
PARAMETRIC TECHNOLOGY CO COM 699173100 76 3599 SHR SOLE 2 3599
PARKER-HANNIFIN CORP. COM 701094104 20075 485926 SHR SOLE 1,2 485926
PAYCHEX INC. COM 704326107 170 3248 SHR SOLE 2 3248
PAYLESS SHOESOURCE INC COM 704379106 779 15000 SHR SOLE 2 15000
J.C. PENNEY COM 708160106 13 868 SHR SOLE 1 868
PEOPLE'S BANK,
BRIDGEPORT,CT COM 710198102 60 2850 SHR SOLE 1 2850
PEOPLES HERITAGE FIN'L
GROUP COM 711147108 8 562 SHR SOLE 1 562
PEOPLESOFT INC COM 712713106 70 3493 SHR SOLE 2 3493
PEPSICO, INC. COM 713448108 57571 1664085 SHR SOLE 1,2 1664085
PHARMACIA UPJOHN INC COM 716941109 19740 333100 SHR SOLE 1,2 333100
PFIZER, INC. COM 717081103 5004 136867 SHR SOLE 1,2 136867
PHELPS DODGE CORP COM 717265102 2 45 SHR SOLE 2 45
PHILADELPHIA SUBURBAN
CORP. COM 718009608 15 800 SHR SOLE 1 800
PHILIP MORRIS COS COM 718154107 9734 460800 SHR SOLE 1,2 460800
PHILIP SVCS CORP COM COM 71819M103 1 8400 SHR SOLE 2 8400
PHONE.COM INC COM 71920Q100 685 4200 SHR SOLE 2 4200
PITNEY BOWES COM 724479100 202 4522 SHR SOLE 2 4522
PLEXUS CORPORATION COM 729132100 8795 132000 SHR SOLE 2 132000
PLUG POWER INC COM 72919P103 26 300 SHR SOLE 2 300
PORTUGAL TELECOM SA ADR 737273102 3031 243736 SHR SOLE 2 243736
POST PROPERTIES INC COM 737464107 6 145 SHR SOLE 2 145
POTOMAC ELEC. POWER COM 737679100 20 886 SHR SOLE 1 886
POWERGEN PLC ADR 738905405 34 1315 SHR SOLE 2 1315
PRAXAIR, INC. COM 74005P104 8412 202100 SHR SOLE 1,2 202100
PREMIER CRUISES LTD COM 74099A997 241 74059 SHR SOLE 2 74059
PROCTOR & GAMBLE COM 742718109 1639 29081 SHR SOLE 1,2 29081
PROGRESSIVE CORP COM 743315103 8 100 SHR SOLE 1 100
PROLIGIS TRUST COM 743410102 13 650 SHR SOLE 2 650
PROVIDIAN FINANCIAL COM 74406A102 163 1880 SHR SOLE 2 1880
PUB SVC ENTERPR GROUP
INC COM 744573106 2 73 SHR SOLE 2 73
QUAKER OATS COM 747402105 109 1794 SHR SOLE 2 1794
QUALCOMM INC COM 747525103 1621 10858 SHR SOLE 2 10858
RAILAMERICA INC COM 750753105 304 44999 SHR SOLE 2 44999
RALSTON-PURINA GROUP COM 751277302 107 3895 SHR SOLE 2 3895
RAYTHEON CO - CLASS A COM 755111309 2 98 SHR SOLE 2 98
REALNETWORKS INC COM 75605L104 142 2500 SHR SOLE 2 2500
REGENERON PHARMACEUTICAL COM 75886F107 443 15000 SHR SOLE 2 15000
REPSOL SA ADR 76026T205 2641 123903 SHR SOLE 2 123903
RESEARCH IN MOTION LTD. COM 760975102 3744 35154 SHR SOLE 1,2 35154
REUTERS GROUP PLC ADR 761324201 167 1400 SHR SOLE 1 1400
RIO TINTO ADR 767202104 34 593 SHR SOLE 2 593
ROBBINS AND MYERS INC. COM 770196103 1418 60000 SHR SOLE 2 60000
ROYAL DUTCH PETROLEUM CO. ADR 780257705 1151 19900 SHR SOLE 1,2 19900
ROYAL DUTCH PETROLEUM CO. ADR 780257804 26970 468385 SHR SOLE 2 468385
RUBY TUESDAY, INC. COM 781182100 1838 105000 SHR SOLE 2 105000
RURAL CELLULAR CORP PFD 781904305 1208 12141 SHR SOLE 2 12141
SBC COMMUNICATIONSINC. COM 78387G103 15876 377791 SHR SOLE 1,2 377791
SDL, INC. COM 784076101 681 3200 SHR SOLE 1,2 3200
SLM HOLDINGS CORP COM 78442A109 402 12057 SHR SOLE 2 12057
SAN PAOLO-IMI SPA ADR 799175104 1591 55837 SHR SOLE 2 55837
SAP AG ADR ADR 803054204 3704 61992 SHR SOLE 2 61992
SARA LEE CORP. COM 803111103 19279 1071043 SHR SOLE 1,2 1071043
SCHERING-PLOUGH COM 806605101 2148 58041 SHR SOLE 1,2 58041
SCHLUMBERGER LTD. COM 806857108 35754 467377 SHR SOLE 1,2 467377
SCHWAB (CHARLES) CORP. COM 808513105 636 11190 SHR SOLE 1,2 11190
SCIENTIFIC-ATLANTIC COM 808655104 6475 102079 SHR SOLE 2 102079
SCOTTISH POWER PLC ADR 81013T705 62 1944 SHR SOLE 1,2 1944
SEAGATE TECHNOLOGY INC. COM 811104103 25 400 SHR SOLE 1 400
SEALED AIR CORP COM 81211K100 56 1031 SHR SOLE 2 1031
SELECTICA INC COM 816288104 441 5000 SHR SOLE 2 5000
SEQUENOM, INC. COM 817337108 945 24000 SHR SOLE 2 24000
UNION SQUARE HOTEL
PARTNERS COM 820936102 0 10000 SHR SOLE 2 10000
SHELL TRANSPORT &
TRADING ADR 822703609 3116 63505 SHR SOLE 2 63505
SHIRE PHARMACEUTICALS GR COM 82481R106 1128 22000 SHR SOLE 2 22000
SIEBEL SYSTEMS, INC. COM 826170102 4530 37927 SHR SOLE 2 37927
SILICON STORAGE TECH INC COM 827057100 7565 102400 SHR SOLE 2 102400
SIMON PROPERTY GROUP INC COM 828806109 9 365 SHR SOLE 2 365
SMART & FINAL, INC. COM 831683107 1093 147000 SHR SOLE 2 147000
SMITH INTL INC. COM 832110100 9765 126000 SHR SOLE 2 126000
SMITHKLINE BEECHAM SPONS ADR 832378301 2127 32192 SHR SOLE 2 32192
SOCIETE GENERALE ADR 83364L109 72 1805 SHR SOLE 2 1805
SOLECTRON CORP. COM 834182107 6215 155134 SHR SOLE 1,2 155134
SONY CORP. ADR 835699307 94 334 SHR SOLE 1,2 334
SPECTRASITE HOLDINGS INC COM 84760T100 566 20000 SHR SOLE 2 20000
SPIEKER PROPERTIES INC COM 848497103 16 365 SHR SOLE 2 365
SPRINT CORP (FON GROUP) COM 852061100 127 2000 SHR SOLE 2 2000
SPRINT CORP (PCS GROUP) COM 852061506 1137 17410 SHR SOLE 2 17410
STAAR SURGICAL CO COM 852312305 1046 90000 SHR SOLE 2 90000
STAMFORD INTERNATIONAL
INC. COM 852902105 16 825 SHR SOLE 1 825
STAPLES INC. COM 855030102 24 1200 SHR SOLE 1 1200
STARBUCKS CORP. COM 855244109 3585 80000 SHR SOLE 2 80000
STERLING BANCORP COM 859158107 6 400 SHR SOLE 1 400
SUMMIT BANCORP COM 866005101 621 23650 SHR SOLE 1 23650
SUN MICROSYSTEMS INC COM 866810104 5502 58718 SHR SOLE 1,2 58718
SUPERVALUE INC COM 868536103 69 3664 SHR SOLE 2 3664
SYCAMORE NETWORKS INC COM 871206108 477 3700 SHR SOLE 2 3700
SYSCO CORP. COM 871829107 261 7270 SHR SOLE 2 7270
TCI INTL INC COM 872293105 18 2000 SHR SOLE 2 2000
TALISMAN ENERGY INC. COM 87425E103 6 200 SHR SOLE 1 200
TANDY CORP COM 875382103 130 2554 SHR SOLE 2 2554
TARGET CORPORATION COM 87612E106 812 10860 SHR SOLE 1 10860
TARGET CORP COM 87612E110 424 5672 SHR SOLE 2 5672
TAUBMAN CENTERS INC COM 876664103 8 725 SHR SOLE 2 725
TEKELEC COM 879101103 5272 142000 SHR SOLE 2 142000
TELECOM NEW ZEALAND ADR 879278208 22 600 SHR SOLE 1 600
TELECOM ITALIA SPA ADR 87927W106 3369 22167 SHR SOLE 2 22167
TELECORP PCS INC COM 879299105 378 7300 SHR SOLE 2 7300
TELEFONICA SA ADR 879382208 926 12457 SHR SOLE 1 12457
TELEFONOS DE MEXICO ADR 879403780 1910 28500 SHR SOLE 2 28500
TELIGENT INC CL A COM 87959Y103 4518 67621 SHR SOLE 2 67621
TELLABS INC COM 879664100 333 5281 SHR SOLE 2 5281
TENET HEALTHCARE CORP. COM 88033G100 7563 328700 SHR SOLE 1,2 328700
TERADYNE INC COM 880770102 214 2600 SHR SOLE 2 2600
TETRA TECHNOLOGIES, INC. COM 88162F105 2953 220800 SHR SOLE 1,2 220800
TEXACO INC. COM 881694103 1649 30673 SHR SOLE 1 30673
TEXAS INSTRUMENTS COM 882508104 2071 12943 SHR SOLE 2 12943
TEXAS UTILITIES CO. COM 882848104 6 200 SHR SOLE 1 200
THERMO ELECTRON CORP COM 883556102 15 750 SHR SOLE 2 750
THOMAS & BETTS CORP COM 884315102 45 1600 SHR SOLE 2 1600
3COM CORPORATION COM 885535104 6 100 SHR SOLE 1 100
TIDEWATER INC. COM 886423102 3 100 SHR SOLE 1 100
TIFFANY & CO. NEW COM 886547108 1840 22000 SHR SOLE 2 22000
TIME WARNER INC. COM 887315109 1745 17448 SHR SOLE 2 17448
TORCHMARK CORPORATION COM 891027104 21 910 SHR SOLE 1 910
TOTAL FINA SA ADR 89151E109 3460 47000 SHR SOLE 2 47000
TOTAL FINA SA ADR 89151E113 73 997 SHR SOLE 2 997
TOYOTA MOTOR CORP ADR 892331307 43 412 SHR SOLE 2 412
TRANSMATION INC COM 893757104 51 17000 SHR SOLE 2 17000
TRICON GLOBAL
RESTAURANTS COM 895953107 71 2293 SHR SOLE 1,2 2293
TRITEL CLASS A COM 89675X104 191 5000 SHR SOLE 2 5000
TRUE NORTH
COMMUNICATIONS COM 897844106 1482 37709 SHR SOLE 2 37709
TUPPERWARE CORP COM 899896104 12 739 SHR SOLE 2 739
TYCO INTL LTD NEW COM 902124106 23480 470570 SHR SOLE 2 470570
TYCO INTERNATIONAL LTD. COM 902134106 1449 28915 SHR SOLE 1,2 28915
UST INC. COM 902911106 34 2199 SHR SOLE 2 2199
UNIFIRST CORP. COM 904708104 1877 166800 SHR SOLE 2 166800
UNILEVER N V ADR 904784709 4969 103248 SHR SOLE 2 103248
UNICOM CORP COM 904911104 80 2192 SHR SOLE 2 2192
UNION CARBIDE CORP. COM 905581104 87 1500 SHR SOLE 1,2 1500
UNION PACIFIC CORP. COM 907818108 21434 547836 SHR SOLE 1,2 547836
UNION PACIFIC RESOURCES COM 907834105 63 4370 SHR SOLE 1 4370
UNITED DOMINION REALITY
TRUST COM 910197102 3 290 SHR SOLE 2 290
UNITED HLTHCRE CORP COM 910581107 7338 123071 SHR SOLE 1,2 123071
US AIRWAYS GROUP INC COM 911905107 25 892 SHR SOLE 2 892
US WEST INC. COM 91273H101 529 7287 SHR SOLE 2 7287
US WEST INC. COM 912889102 105 1442 SHR SOLE 1 1442
MEDIAONE GROUP INC. COM 912889201 41 507 SHR SOLE 1 507
UNOCAL CORPORATION COM 915289102 9 300 SHR SOLE 1 300
USFREIGHTWAYS CORP COM 916906100 562 15000 SHR SOLE 2 15000
VERITAS SOFTWARE CORP. COM 923436109 1588 12125 SHR SOLE 2 12125
VERISIGN INC COM 92343E102 449 3000 SHR SOLE 2 3000
VERTEX PHARMACEUTICALS
INC COM 92532F100 162 3450 SHR SOLE 1,2 3450
VICAL INC COM 925602104 34 1000 SHR SOLE 2 1000
VIGNETTE CORP COM 926734104 737 4600 SHR SOLE 2 4600
VINTAGE PETROLEUM COM 927460105 604 30000 SHR SOLE 2 30000
VITESSE SEMICONDUCTOR
INC. COM 928497106 5583 58000 SHR SOLE 2 58000
VITRIA TECHNOLOGY INC COM 92849Q104 383 3800 SHR SOLE 2 3800
VODAFONE GROUP PLC ADR 92857T107 689 12407 SHR SOLE 1,2 12407
VULCAN MATLS INC COM 929160109 16362 357150 SHR SOLE 1,2 357150
WADDELL & REED FINANCIAL COM 930059100 4299 101600 SHR SOLE 2 101600
WADDELL & REED FINANCIAL COM 930059209 2196 56300 SHR SOLE 2 56300
WAL-MART STORES INC COM 931142103 4274 76800 SHR SOLE 1,2 76800
WALGREEN CO COM 931422109 340 13186 SHR SOLE 2 13186
WARNER-LAMBERT COM 934488107 1527 15654 SHR SOLE 1,2 15654
WASHINGTON REIT COM 939653101 4 290 SHR SOLE 2 290
WASTE SYSTEMS INTL. COM 94106P209 205 71428 SHR SOLE 2 71428
WASTE SYSTEMS INTL. WNT 94106P209 6 11250 SHR SOLE 2 11250
WATSON PHARMACEUTICALS
INC. COM 942683103 15686 395233 SHR SOLE 1,2 395233
WEINGARTEN REALTY INVST COM 948741103 5 145 SHR SOLE 2 145
WELLS FARGO NEW COM 949746101 35198 860126 SHR SOLE 1,2 860126
WESTERN PROPERTIES TRUST COM 959261108 3 290 SHR SOLE 2 290
WEYERHAUSER COM 962166104 21987 385736 SHR SOLE 2 385736
WHOLE FOODS MKT INC COM 966837106 3428 82731 SHR SOLE 2 82731
WILLIAMS COS., INC. COM 969457100 4799 109214 SHR SOLE 1,2 109214
WILMINGTON TRUST CORP. COM 971807102 729 15000 SHR SOLE 2 15000
WIND RIVER SYSTEMS INC. COM 973149107 6132 169150 SHR SOLE 1,2 169150
WINSTAR COMMUNICATIONS
INC. COM 975515107 3871 64520 SHR SOLE 2 64520
WISCONSIN ENERGY COM 976657106 154 7710 SHR SOLE 1 7710
WRIGLEY (WM.) JR. CO. COM 982526105 126 1638 SHR SOLE 1,2 1638
XILINX INC. COM 983919101 807 9750 SHR SOLE 2 9750
XYBERNAUT CORP. COM 984149104 6 330 SHR SOLE 1 330
YAHOO INC COM 984332106 2053 11980 SHR SOLE 2 11980
YOUNG & RUBICAM INC COM 987425105 41 870 SHR SOLE 2 870
ZURICH ALLIED AG ADR 98981P101 22 218 SHR SOLE 2 218
DAIMLERCHRYSLER AG ADR D1668R123 1636 25000 SHR SOLE 2 25000
FLAG TELECOM LTD COM G3529L102 124 5500 SHR SOLE 2 5500
GLOBAL CROSSING LTD. COM G3921A100 2645 64607 SHR SOLE 2 64607
SANTA FE INTL CORP COM G7805C108 27849 752687 SHR SOLE 1,2 752687
TRANSOCEAN SEDCO FOREX
INC. ADR G90078109 15262 297437 SHR SOLE 1,2 297437
BREEZECOM.LTD COM M20385106 630 16867 SHR SOLE 2 16867
ASM LITHOGRAPHY HOLDING COM N07059111 313 2800 SHR SOLE 2 2800
KPNQWEST NV COM N50919104 146 2700 SHR SOLE 2 2700
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