UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.D. 20549
FORM 13F
FORM 13F COVER PAGE
Report for the Quarter Ended: March 31, 2000
Check here if Amendment [ ]; Amendment Number:
This Amendment (Check only one.): [ ] is a restatement.
[ ] adds new holdings entries.
Institution Manager Filing this Report:
Name: Montana Board of Investments
Address: P.O. Box 200126
Helena, MT 59620-0126
13F File Number: 28-2982
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: Gayle Moon
Title: Chief Accountant
Phone: 406-444-0099
Signature, Place, and Date of Signing:
Gayle Moon Helena, Montana May 15, 2000
Report Type (Check only one.):
[ X] 13F HOLDINGS REPORT.
[ ] 13F NOTICE.
[ ] 13F COMBINATION REPORT.
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: 105
Form 13F Information Table Value Total: $2,978,170
List of Other Included Managers:
None
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FORM 13F INFORMATION TABLE
VALUE SHARES/ SH/ PUT/ INVESTMT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (X$1000)PRN AMT PRN CALL DISCRETN MANAGERS SOLE SHARED NONE
AT + T CORP COM 001957109 74672 1327500 SH SOLE 1327500
ABBOTT LABS COM 002824100 40114 1140000 SH SOLE 1140000
ALLTEL CORP COM 020039103 18919 300000 SH SOLE 300000
AMERICAN EXPRESS CO COM 025816109 39468 265000 SH SOLE 265000
AMERICAN GEN CORP COM 026351106 15726 280200 SH SOLE 280200
AMERICAN HOME PRODUCTS CORP COM 026609107 23059 430000 SH SOLE 430000
AMERICAN INTL GROUP INC COM 026874107 50644 462500 SH SOLE 462500
AMGEN INC COM 031162100 15160 247000 SH SOLE 247000
ASSOCIATES FIRST CAP CORP COM 046008108 9794 456842 SH SOLE 456842
AUTOMATIC DATA PROCESSING INC COM 053015103 26296 545000 SH SOLE 545000
BMC SOFTWARE INC COM 055921100 29131 590000 SH SOLE 590000
BANK AMER CORP COM 060505104 23101 440536 SH SOLE 440536
BANK ONE CORP COM 06423A103 21966 639000 SH SOLE 639000
BECTON DICKINSON + CO COM 075887109 16248 617500 SH SOLE 617500
BESTFOODS COM 08658U101 21042 449500 SH SOLE 449500
BRISTOL MYERS SQUIBB CO COM 110122108 30550 529000 SH SOLE 529000
BURLINGTON RES INC COM 122014103 18570 501900 SH SOLE 501900
CVS CORP COM 126650100 46108 1227500 SH SOLE 1227500
CHASE MANHATTAN CORP NEW COM 16161A108 24413 280000 SH SOLE 280000
CHEVRON CORP COM 166751107 19412 210000 SH SOLE 210000
CISCO SYS INC COM 17275R102 89296 1155000 SH SOLE 1155000
CITIGROUP INC COM 172967101 69212 1166900 SH SOLE 1166900
COMPUTER SCIENCES CORP COM 205363104 24260 306600 SH SOLE 306600
CONAGRA INC COM 205887102 14319 790000 SH SOLE 790000
COSTCO WHSL CORP NEW COM 22160K105 45046 857000 SH SOLE 857000
DISNEY WALT CO COM 254687106 21019 508000 SH SOLE 508000
DU PONT E I DE NEMOURS + CO COM 263534109 32783 620000 SH SOLE 620000
EDISON INTL COM 281020107 8778 530000 SH SOLE 530000
EMERSON ELEC CO COM 291011104 12690 240000 SH SOLE 240000
ENRON CORP COM 293561106 63269 845000 SH SOLE 845000
EXXON MOBIL CORP COM 30231G102 36179 464956 SH SOLE 464956
FPL GROUP INC COM 302571104 6909 150000 SH SOLE 150000
FIRST DATA CORP COM 319963104 26046 588600 SH SOLE 588600
FIRST UN CORP COM 337358105 23929 642400 SH SOLE 642400
FORD MTR CO DEL COM 345370100 22509 490000 SH SOLE 490000
GTE CORP COM 362320103 55479 781400 SH SOLE 781400
GENERAL ELEC CO COM 369604103 80698 520000 SH SOLE 520000
HALLIBURTON CO COM 406216101 13940 340000 SH SOLE 340000
HARTFORD LIFE INC COM 416592103 19556 417200 SH SOLE 417200
HEWLETT PACKARD CO COM 428236103 23861 180000 SH SOLE 180000
ILLINOIS TOOL WKS INC COM 452308109 19890 360000 SH SOLE 360000
INTEL CORP COM 458140100 143812 1090000 SH SOLE 1090000
INTERNATIONAL BUSINESS MACHS COM 459200101 80240 680000 SH SOLE 680000
JOHNSON + JOHNSON COM 478160104 42808 611000 SH SOLE 611000
KEYCORP NEW COM 493267108 220 11600 SH SOLE 11600
KIMBERLY CLARK CORP COM 494368103 23520 420000 SH SOLE 420000
LILLY ELI + CO COM 532457108 22680 360000 SH SOLE 360000
LUCENT TECHNOLOGIES INC COM 549463107 72900 1200000 SH SOLE 1200000
MCI WORLDCOM INC COM 55268B106 38824 856800 SH SOLE 856800
MARSH + MCLENNAN COS INC COM 571748102 32972 298900 SH SOLE 298900
MASCO CORP COM 574599106 19332 943000 SH SOLE 943000
MCDONALDS CORP COM 580135101 20321 541000 SH SOLE 541000
MERCK + CO INC COM 589331107 56472 909000 SH SOLE 909000
MICROSOFT CORP COM 594918104 86063 810000 SH SOLE 810000
NESTLE S A COM 641069406 15130 170000 SH SOLE 170000
NEWELL RUBBERMAID INC COM 651229106 17083 688500 SH SOLE 688500
NOKIA CORP COM 654902204 128981 593700 SH SOLE 593700
NORTEL NETWORKS CORP COM 656569100 45864 364000 SH SOLE 364000
NOVARTIS AG COM 66987V109 18150 274998 SH SOLE 274998
ORACLE CORP COM 68389X105 26775 343000 SH SOLE 343000
PNC FINL SVCS GROUP INC COM 693475105 23433 520000 SH SOLE 520000
RELIANT ENERGY INC COM 75952J108 4688 200000 SH SOLE 200000
ROYAL DUTCH PETE CO COM 780257804 24971 433800 SH SOLE 433800
SBC COMMUNICATIONS INC COM 78387G103 32659 777600 SH SOLE 777600
SAFEWAY INC COM 786514208 97514 2155000 SH SOLE 2155000
SCHERING PLOUGH CORP COM 806605101 33443 910000 SH SOLE 910000
SCHLUMBERGER LTD COM 806857108 14214 185800 SH SOLE 185800
SMITHKLINE BEECHAM P L C COM 832378301 18498 280000 SH SOLE 280000
SOLECTRON CORP COM 834182107 4692 120000 SH SOLE 120000
SUN MICROSYSTEMS INC COM 866810104 85738 915000 SH SOLE 915000
TARGET CORP COM 87612E106 35506 475000 SH SOLE 475000
TELLABS INC COM 879664100 59016 937000 SH SOLE 937000
TEXACO INC COM 881694103 21718 405000 SH SOLE 405000
TEXAS UTILS CO COM 882848104 10020 337500 SH SOLE 337500
TIME WARNER INC COM 887315109 33500 335000 SH SOLE 335000
TYCO INTL LTD NEW COM 902124106 79301 1590000 SH SOLE 1590000
USX MARATHON GROUP COM 902905827 16889 648000 SH SOLE 648000
US BANCORP DEL COM 902973106 22094 1010000 SH SOLE 1010000
UNION PAC CORP COM 907818108 12227 312500 SH SOLE 312500
UNITED TECHNOLOGIES CORP COM 913017109 15165 240000 SH SOLE 240000
WELLS FARGO + CO NEW COM 949746101 40938 1000000 SH SOLE 1000000
AMB PPTY CORP COM 00163T109 6450 300000 SH SOLE 300000
ARCHSTONE CMNTYS TR COM 039581103 1097 55000 SH SOLE 55000
ARDEN RLTY INC COM 039793104 5845 280000 SH SOLE 280000
BOSTON PPTYS INC COM 101121101 6999 220000 SH SOLE 220000
BOYKIN LODGING CO COM 103430104 3525 300000 SH SOLE 300000
CORNERSTONE PPTYS INC COM 21922H103 6975 400000 SH SOLE 400000
CORNERSTONE RLTY INCOME TR INC COM 21922V102 6488 600000 SH SOLE 600000
CRESCENT REAL ESTATE EQUITIES COM 225756105 2625 150000 SH SOLE 150000
DUKE WEEKS RLTY CORP COM 264411505 6694 350000 SH SOLE 350000
ELDERTRUST COM 284560109 900 300000 SH SOLE 300000
EQUITY RESIDENTIAL PPTYS TR COM 29476L107 6687 166400 SH SOLE 166400
FELCOR LODGING TR INC COM 31430F101 3891 220000 SH SOLE 220000
FIRST INDL RLTY TR INC COM 32054K103 5450 200000 SH SOLE 200000
FRONTLINE CAP GROUP COM 35921N101 8008 182000 SH SOLE 182000
LIBERTY PROPERTY COM 531172104 7660 320000 SH SOLE 320000
MGI PPTYS COM 552885105 1038 200000 SH SOLE 200000
MACK CA RLTY CORP COM 554489104 6630 260000 SH SOLE 260000
MERRY LAND PROPERTIES INC COM 590441101 75 13300 SH SOLE 13300
PRENTISS PPTYS TR COM 740706106 7586 340000 SH SOLE 340000
PUBLIC STORAGE INC COM 74460D109 2100 100000 SH SOLE 100000
RECKSON ASSOCS RLTY CORP COM 75621K106 7500 400000 SH SOLE 400000
SL GREEN RLTY CORP COM 78440X101 5938 250000 SH SOLE 250000
SPIEKER PPTYS INC COM 848497103 11125 250000 SH SOLE 250000
STARWOOD FINANCIAL INC COM 85569R104 4459 253000 SH SOLE 253000
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