DEFINED ASSET FUNDS--REGISTERED TRADEMARK--
------------------------------
----------------------
EQUITY INVESTOR FUND
INDEX SERIES
S&P 500 TRUST 2
S&P MIDCAP TRUST
(A UNIT INVESTMENT TRUST)
- MONTHLY INCOME
- DIVERSIFICATION
- REINVESTMENT OPTION
SPONSORS:
MERRILL LYNCH,
PIERCE, FENNER & SMITH
INCORPORATED -----------------------------------------------------
SALOMON SMITH BARNEY INC. The Securities and Exchange Commission has not
PRUDENTIAL SECURITIES approved or disapproved these Securities or passed
INCORPORATED upon the adequacy of this prospectus. Any
PAINEWEBBER INCORPORATED representation to the contrary is a criminal offense.
DEAN WITTER REYNOLDS INC. Prospectus dated April 28, 2000.
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Defined Asset Funds--Registered Trademark--
Defined Asset Funds-Registered Trademark- is America's oldest and largest family
of unit investment trusts, with over $160 billion sponsored over the last 28
years. Defined Asset Funds has been a leader in unit investment trust research
and product innovation. Our family of Funds helps investors work toward their
financial goals with a full range of quality investments, including municipal,
corporate and government bond portfolios, as well as domestic and international
equity portfolios.
Defined Asset Funds offer a number of advantages:
- A disciplined strategy of buying and holding with a long-term view is the
cornerstone of Defined Asset Funds.
- Fixed portfolio: Defined Funds follow a buy and hold investment strategy;
funds are not managed and portfolio changes are limited.
- Defined Portfolios: We choose the stocks or bonds in advance, so you know
what you're investing in.
- Professional research: Our dedicated research team seeks out stocks or bonds
appropriate for a particular fund's objectives.
- Ongoing supervision: We monitor each portfolio on an ongoing basis.
No matter what your investment goals, risk tolerance or time horizon, there's
probably a Defined Asset Fund that suits your investment style. Your financial
professional can help you select a Defined Asset Fund that works best for your
investment portfolio.
THE FINANCIAL INFORMATION ON THIS PROSPECTUS IS AS OF THE EVALUATION DATE,
DECEMBER 31, 1999.
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CONTENTS
PAGE
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S&P 500 Trust 2 Risk/Return Summary.. 3
S&P 500 MidCap Trust
Risk/Return Summary................ 5
What You Can Expect From Your
Investment......................... 7
Income............................. 7
Records and Reports................ 7
The Risks You Face................... 7
Litigation and Legislation Risks... 7
Selling Units........................ 7
Sponsors' Secondary Market......... 7
Selling Units to the Trustee....... 8
How The Fund Works................... 8
Pricing............................ 8
Evaluations........................ 8
Income............................. 8
Expenses........................... 9
Portfolio Changes.................. 9
Fund Termination................... 9
Certificates....................... 10
Trust Indenture.................... 10
Legal Opinion...................... 11
Auditors........................... 11
Sponsors........................... 11
Trustee............................ 11
Underwriters' and Sponsors'
Profits.......................... 11
Public Distribution................ 12
Code of Ethics..................... 12
Year 2000 Issues................... 12
Taxes................................ 12
Supplemental Information............. 13
Financial Statements................. D-1
</TABLE>
2
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S&P 500 TRUST 2 RISK/RETURN SUMMARY
<TABLE>
<C> <S>
1. WHAT IS THE PORTFOLIO'S OBJECTIVE?
- The objective of this Defined Fund is
designed to produce investment results
corresponding to the performance of the
Standard & Poor's 500 Stock Price
Composite Index.
2. WHAT IS THE FUND'S INVESTMENT STRATEGY?
- The Portfolio contains 500 common stocks
structured to mirror, as closely as
possible, the total return of the S&P 500
Index.
</TABLE>
<TABLE>
<S> <C>
-- With a single, convenient purchase, you
can participate in the total return
performance of an index broadly
representing the market. This
diversification reduces the risk of
selecting individual stocks or market
sectors.
</TABLE>
<TABLE>
<CAPTION>
- The Fund plans to hold the stocks in the
Portfolio for approximately 17 years. The
Fund will terminate by February 28, 2017.
<C> <S>
3. WHAT ARE THE SIGNIFICANT RISKS?
YOU CAN LOSE MONEY BY INVESTING IN THE
FUND. THIS CAN HAPPEN FOR VARIOUS
REASONS, INCLUDING:
- Stock prices can be volatile.
- Dividend rates on the stocks or share
prices may decline during the life of the
Fund.
- The Fund may continue to hold the stocks
originally selected even though their
market value or yield may have changed.
</TABLE>
<TABLE>
<C> <S>
4. IS THIS FUND APPROPRIATE FOR YOU?
Yes, if you want current monthly income.
You will benefit from a professionally
selected and supervised portfolio whose
risk is reduced by investing in equity
securities of many different issuers.
The Fund is NOT appropriate for you if
you are unwilling to take the risk
involved with an equity investment.
</TABLE>
<TABLE>
<C> <S>
5. WHAT ARE THE FUND'S FEES AND EXPENSES?
This table shows the costs and expenses
you may pay, directly or indirectly, when
you invest in the Fund.
</TABLE>
<TABLE>
$0.77
Trustee's Fee
$0.65
Portfolio Supervision,
Bookkeeping and
Administrative Fees
(including updating
expenses)
<CAPTION>
ESTIMATED ANNUAL OPERATING EXPENSES
AMOUNT
PER 1,000 UNITS
---------------
<C> <S> <C>
$1.03
Other Operating Expenses
-----
$2.45
TOTAL
</TABLE>
<TABLE>
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The Sponsors historically paid updating
expenses.
INVESTOR FEES
You will pay an up-front sales fee of
approximately 2.25%. The fee will be reduced
for quantity purchases, as follows:
</TABLE>
<TABLE>
<CAPTION>
YOUR MAXIMUM
SALES FEE
IF YOU INVEST: WILL BE:
-------------- ------------
<C> <S> <C>
Less than $25,000 2.25%
$25,000 to $49,999 2.00%
$50,000 to $74,999 1.75%
$75,000 to $99,999 1.50%
$100,000-$249,999 1.25%
$250,000-$999,999 1.00%
$1,000,000-$4,999,999 0.75%
$5,000,000-$14,999,999 0.50%
$15,000,000 or more 0.25%
</TABLE>
<TABLE>
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6. IS THE FUND MANAGED?
Unlike a mutual fund, the Fund is not
managed. However, stocks may be purchased
or sold to reflect changes in the Index.
The Sponsors monitor the portfolio and
may instruct the Trustee to sell
securities under certain limited
circumstances.
</TABLE>
3
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S&P 500 TRUST 2 RISK/RETURN SUMMARY (CONTINUED)
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7. HOW DO I BUY UNITS?
The minimum investment is $250.
You can buy units from the Sponsors.
UNIT PRICE PER 1,000 UNITS $3,149.26
(as of December 31, 1999)
Unit price is based on the net asset
value of the Fund plus the up-front sales
fee.
The Portfolio stocks are valued by the
Trustee on the basis of their closing
prices at 4:00 p.m. Eastern time every
business day. Unit price changes every
day with changes in the prices of the
stocks.
8. HOW DO I SELL UNITS?
You may sell your units at any time to
the Sponsors or the Trustee for the net
asset value determined at the close of
business on the date of sale.
9. HOW ARE DISTRIBUTIONS MADE AND TAXED?
The Fund pays monthly distributions of
any dividend income, net of expenses, on
the 25th of each month, if you own units
on the 10th of that month. Distributions
of ordinary income will be dividends for
federal income tax purposes and may be
eligible for the dividends-received
deduction for corporations. Distributions
to foreign investors will generally be
subject to withholding taxes.
10. WHAT OTHER SERVICES ARE AVAILABLE?
REINVESTMENT
You may choose to reinvest your
distributions into additional units of
the Fund. Unless you choose reinvestment,
you will receive your income
distributions in cash.
EXCHANGE PRIVILEGES
You may exchange units of this Fund for
units of certain other Defined Asset
Funds. You may also exchange into this
Fund from certain other funds. We charge
a reduced sales fee on designated
exchanges.
</TABLE>
4
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S&P 500 MIDCAP TRUST RISK/RETURN SUMMARY
<TABLE>
<C> <S>
1. WHAT IS THE PORTFOLIO'S OBJECTIVE?
- The objective of this Defined Fund is
designed to produce investment results
corresponding to the performance of the
Standard & Poor's MidCap 400 Stock Price
Composite Index.
2. WHAT IS THE FUND'S INVESTMENT STRATEGY?
- The Portfolio contains 400 common stocks
structured to mirror, as closely as
possible, the total return of the S&P
MidCap 400 Index.
</TABLE>
<TABLE>
<S> <C>
-- With a single, convenient purchase, you
can participate in the total return
performance of an index broadly
representing the market. This
diversification reduces the risk of
selecting individual stocks or market
sectors.
</TABLE>
<TABLE>
<CAPTION>
- The Fund plans to hold the stocks in the
Portfolio for approximately 17 years. The
Fund will terminate by February 28, 2017.
<C> <S>
3. WHAT ARE THE SIGNIFICANT RISKS?
YOU CAN LOSE MONEY BY INVESTING IN THE
FUND. THIS CAN HAPPEN FOR VARIOUS
REASONS, INCLUDING:
- Stock prices can be volatile.
- Dividend rates on the stocks or share
prices may decline during the life of the
Fund.
- The Fund may continue to hold the stocks
originally selected even though their
market value or yield may have changed.
</TABLE>
<TABLE>
<C> <S>
4. IS THIS FUND APPROPRIATE FOR YOU?
Yes, if you want current monthly income.
You will benefit from a professionally
selected and supervised portfolio whose
risk is reduced by investing in equity
securities of many different issuers.
The Fund is NOT appropriate for you if
you are unwilling to take the risk
involved with an equity investment.
</TABLE>
<TABLE>
<C> <S>
5. WHAT ARE THE FUND'S FEES AND EXPENSES?
This table shows the costs and expenses
you may pay, directly or indirectly, when
you invest in the Fund.
</TABLE>
<TABLE>
$0.81
Trustee's Fee
$0.65
Portfolio Supervision,
Bookkeeping and
Administrative Fees
(including updating
expenses)
<CAPTION>
ESTIMATED ANNUAL OPERATING EXPENSES
AMOUNT
PER 1,000 UNITS
---------------
<C> <S> <C>
$0.82
Other Operating Expenses
-----
$2.28
TOTAL
</TABLE>
<TABLE>
<C> <S>
The Sponsors historically paid updating
expenses.
INVESTOR FEES
You will pay an up-front sales fee of
approximately 2.25%. The fee will be reduced
for quantity purchases, as follows:
</TABLE>
<TABLE>
<CAPTION>
YOUR MAXIMUM
SALES FEE
IF YOU INVEST: WILL BE:
-------------- ------------
<C> <S> <C>
Less than $25,000 2.25%
$25,000 to $49,999 2.00%
$50,000 to $74,999 1.75%
$75,000 to $99,999 1.50%
$100,000-$249,999 1.25%
$250,000-$999,999 1.00%
$1,000,000-$4,999,999 0.75%
$5,000,000-$14,999,999 0.50%
$15,000,000 or more 0.25%
</TABLE>
<TABLE>
<C> <S>
6. IS THE FUND MANAGED?
Unlike a mutual fund, the Fund is not
managed. However, stocks may be purchased
or sold to reflect changes in the Index.
The Sponsors monitor the portfolio and
may instruct the Trustee to sell
securities under certain limited
circumstances.
</TABLE>
<PAGE>
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S&P MIDCAP TRUST RISK/RETURN SUMMARY (CONTINUED)
<TABLE>
<C> <S>
7. HOW DO I BUY UNITS?
The minimum investment is $250.
You can buy units from the Sponsors.
UNIT PRICE PER 1,000 UNITS $1,627.10
(as of December 31, 1999)
Unit price is based on the net asset
value of the Fund plus the up-front sales
fee.
The Portfolio stocks are valued by the
Trustee on the basis of their closing
prices at 4:00 p.m. Eastern time every
business day. Unit price changes every
day with changes in the prices of the
stocks.
8. HOW DO I SELL UNITS?
You may sell your units at any time to
the Sponsors or the Trustee for the net
asset value determined at the close of
business on the date of sale.
9. HOW ARE DISTRIBUTIONS MADE AND TAXED?
The Fund pays monthly distributions of
any dividend income, net of expenses, on
the 25th of each month, if you own units
on the 10th of that month. Distributions
of ordinary income will be dividends for
federal income tax purposes and may be
eligible for the dividends-received
deduction for corporations. Distributions
to foreign investors will generally be
subject to withholding taxes.
10. WHAT OTHER SERVICES ARE AVAILABLE?
REINVESTMENT
You may choose to reinvest your
distributions into additional units of
the Fund. Unless you choose reinvestment,
you will receive your income
distributions in cash.
EXCHANGE PRIVILEGES
You may exchange units of this Fund for
units of certain other Defined Asset
Funds. You may also exchange into this
Fund from certain other funds. We charge
a reduced sales fee on designated
exchanges.
</TABLE>
6
<PAGE>
WHAT YOU CAN EXPECT FROM YOUR INVESTMENT
INCOME
Because the Fund generally pays dividends as they are received, individual
income payments will fluctuate based upon the amount of dividends declared and
paid by each issuer. Other reasons your income may vary are:
- changes to the Portfolio because of sales of securities;
- changes in the Fund's expenses; and
- the amount of dividends declared and paid.
There can be no assurance that any dividends will be declared or paid.
RECORDS AND REPORTS
You will receive:
- - a notice from the Trustee if new equity securities are deposited in exchange
or substitution for equity securities originally deposited;
- - annual reports on Fund activity; and
- - annual tax information. THIS WILL ALSO BE SENT TO THE IRS. YOU MUST REPORT THE
AMOUNT OF INCOME RECEIVED DURING THE YEAR. PLEASE CONTACT YOUR TAX ADVISER IN
THIS REGARD.
You may inspect records of Portfolio transactions at the Trustee's office during
regular business hours.
THE RISKS YOU FACE
LITIGATION AND LEGISLATION RISKS
We do not know of any pending litigation that might have a material adverse
effect upon the Fund.
Future tax legislation could affect the value of the Fund by:
- reducing the dividends-received deduction or
- increasing the corporate tax rate resulting in less money available for
dividend payments.
SELLING UNITS
You can sell your units at any time for a price based on their net asset value.
Your net asset value is calculated each business day by:
- ADDING the value of the Portfolio securities, cash and any other Fund
assets;
- SUBTRACTING accrued but unpaid Fund expenses, unreimbursed Trustee advances,
cash held to buy back units or for distribution to investors, and any other
Fund liabilities; and
- DIVIDING the result by the number of outstanding units.
Your net asset value when you sell may be more or less than your cost because of
sales fees, market movements and changes in the Portfolio.
SPONSORS' SECONDARY MARKET
While we are not obligated to do so, we will buy back units at net asset value
less any remaining deferred sales fee and the cost of liquidating securities to
meet the redemption. We may resell the units to other buyers or to the Trustee.
We have maintained a secondary market continuously for more than 25 years, but
we could discontinue it without prior notice for any business reason.
7
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SELLING UNITS TO THE TRUSTEE
Regardless of whether we maintain a secondary market, you can sell your units to
the Trustee at any time by contacting your broker, dealer or financial
institution that holds your units in street name. Sometimes, additional
documents are needed such as a trust document, certificate of corporate
authority, certificate of death or appointment as executor, administrator or
guardian.
Within seven days after your request and the necessary documents are received,
the Trustee will mail a check to you. Contact the Trustee for additional
information.
As long as we are maintaining a secondary market, the Trustee will sell your
units to us at a price based on net asset value. If there is no secondary
market, the Trustee will sell your units in the over-the-counter market if it
believes it can obtain a higher price. In that case, you will receive the net
proceeds of the sale.
If the Fund does not have cash available to pay you for the units you are
selling we will select securities to be sold. These sales could be made at times
when the securities would not otherwise be sold and may result in your receiving
less than you paid for your unit and also reduce the size and diversity of the
Fund.
There could be a delay in paying you for your units:
- if the New York Stock Exchange is closed (other than customary weekend and
holiday closings);
- if the SEC determines that trading on the New York Stock Exchange is
restricted or that an emergency exists making sale or evaluation of the
securities not reasonably practicable; and
- for any other period permitted by SEC order.
HOW THE FUND WORKS
PRICING
Units are charged an initial sales fee.
EVALUATIONS
The Trustee values the securities on each business day (i.e., any day other than
Saturdays, Sundays and the following holidays as observed by the New York Stock
Exchange: New Year's Day, Martin Luther King, Jr. Day, Presidents' Day, Good
Friday, Memorial Day, Independence Day, Labor Day, Thanksgiving and Christmas).
If the securities are listed on a national securities exchange or the Nasdaq
National Market, evaluations are generally based on closing sales prices on that
exchange or that system or, if closing sales prices are not available, at the
mean between the closing bid and offer prices.
INCOME
- - The annual income per unit, after deducting estimated annual Fund expenses per
unit, will depend primarily upon the amount of dividends declared and paid by
the issuers of the securities and changes in the expenses of the Fund and, to
a lesser degree, upon the level of sales of securities. There is no assurance
that dividends on the securities will continue at their current levels or be
declared at all.
8
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- - Each unit receives an equal share of monthly distributions of dividend income
net of estimated expenses. Because dividends on the securities are not
received at a constant rate throughout the year, any distribution may be more
or less than the amount then credited to the Income Account. The Trustee
credits dividends received to an Income Account and other receipts to a
Capital Account. The Trustee may establish a reserve account by withdrawing
from the these accounts amounts it considers appropriate to pay any material
liability. These accounts do not bear interest.
- - Subject to the reinvestment plan, your monthly income distribution will be
substantially equal to 1/12 of your share of the estimated annual income, net
of estimated expenses.
EXPENSES
The Trustee is paid a fee monthly. It also benefits when it holds cash for the
Fund in non-interest bearing accounts. The Trustee may also receive additional
amounts:
- for extraordinary services and costs of indemnifying the Trustee and the
Sponsors;
- costs of actions taken to protect the Fund and other legal fees and
expenses;
- expenses for keeping the Fund's registration statement current; and
- Fund termination expenses and any governmental charges.
The Sponsors are currently reimbursed up to 70 CENTS per 1,000 units annually
for providing portfolio supervisory, bookkeeping and administrative services and
for any other expenses properly chargeable to the Fund. Legal, typesetting,
electronic filing and regulatory filing fees and expenses associated with
updating the Fund's registration statement yearly are now chargeable to the
Fund. While this fee may exceed the amount of these costs and expenses
attributable to this Fund, the total of these fees for all Series of Defined
Asset Funds will not exceed the aggregate amount attributable to all of these
Series for any calendar year. Certain of these expenses were previously paid for
by the Sponsors.
The Trustee's and Sponsors' fees may be adjusted for inflation without
investors' approval.
The Sponsors will pay advertising and selling expenses at no charge to the Fund.
If Fund expenses exceed initial estimates, the Fund will owe the excess. The
Trustee has a lien on Fund assets to secure reimbursement of Fund expenses and
may sell securities if cash is not available.
PORTFOLIO CHANGES
If we maintain a secondary market in units but are unable to sell the units that
we buy in the secondary market, we will redeem units, which may affect the
composition of the portfolio.
We decide whether to offer units for sale that we acquire in the secondary
market after reviewing:
- diversity of the Portfolio;
- size of the Fund relative to its original size;
- ratio of Fund expenses to income; and
- cost of maintaining a current prospectus.
FUND TERMINATION
When the Fund is about to terminate you will receive a notice, and you will be
unable
9
<PAGE>
to sell your units after that time. Unless you choose to receive an in-kind
distribution of securities, we will sell any remaining securities, and you will
receive your final distribution in cash.
You will pay your share of the expenses associated with termination, including
brokerage costs in selling securities. This may reduce the amount you receive as
your final distribution.
CERTIFICATES
Certificates for units are issued on request. You may transfer certificates by
complying with the requirements for redeeming certificates, described above. You
can replace lost or mutilated certificates by deliverying satisfactory indemnity
and paying the associated costs.
TRUST INDENTURE
The Fund is a "unit investment trust" governed by a Trust Indenture, a contract
among the Sponsors and the Trustee, which sets forth their duties and
obligations and your rights. A copy of the Indenture is available to you on
request to the Trustee. The following summarizes certain provisions of the
Indenture.
The Sponsors and the Trustee may amend the Indenture without your consent:
- to cure ambiguities;
- to correct or supplement any defective or inconsistent provision;
- to make any amendment required by any governmental agency; or
- to make other changes determined not to be materially adverse to your best
interest (as determined by the Sponsors).
Investors holding 51% of the units may amend the Indenture. Every investor must
consent to any amendment that changes the 51% requirement. No amendment may
reduce your interest in the Fund without your written consent.
The Trustee may resign by notifying the Sponsors. The Sponsors may remove the
Trustee without your consent if:
- it fails to perform its duties and the Sponsors determine that its
replacement is in your best interest; or
- it becomes incapable of acting or bankrupt or its affairs are taken over by
public authorities.
Investors holding 51% of the units may remove the Trustee. The Trustee may
resign or be removed by the Sponsors without the consent of investors. The
resignation or removal of the Trustee becomes effective when a successor accepts
appointment. The Sponsors will try to appoint a successor promptly; however, if
no successor has accepted within 30 days after notice of resignation, the
resigning Trustee may petition a court to appoint a successor.
Any Sponsor may resign as long as one Sponsor with a net worth of $2 million
remains and agrees to the resignation. The remaining Sponsors and the Trustee
may appoint a replacement. If there is only one Sponsor and it fails to perform
its duties or becomes bankrupt the Trustee may:
- remove it and appoint a replacement Sponsor;
- liquidate the Fund; or
10
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- continue to act as Trustee without a Sponsor.
Merrill Lynch, Pierce, Fenner & Smith Incorporated acts as agent for the
Sponsors.
The Trust Indenture contains customary provisions limiting the liability of the
Trustee and the Sponsors.
LEGAL OPINION
Davis Polk & Wardwell, 450 Lexington Avenue, New York, New York 10017, as
special counsel for the Sponsor, has given an opinion that the units are validly
issued.
AUDITORS
Deloitte & Touche LLP, 2 World Financial Center, New York, New York 10281,
independent accountants, audited the Statement of Condition included in this
prospectus.
SPONSORS:
MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED (a wholly-owned subsidiary of
Merrill Lynch & Co., Inc.)
P.O. Box 9051,
Princeton, NJ 08543-9051
SALOMON SMITH BARNEY INC. (an indirectly wholly-owned subsidiary of Citigroup
Inc.)
388 Greenwich Street--23rd Floor,
New York, NY 10013
PRUDENTIAL SECURITIES INCORPORATED (an
indirect wholly-owned subsidiary of the
Prudential Insurance Company of America)
One New York Plaza
New York, NY 10292
DEAN WITTER REYNOLDS INC. (a principal operating subsidiary of Morgan Stanley
Dean Witter & Co.)
Two World Trade Center--59th Floor,
New York, NY 10048
PAINEWEBBER INCORPORATED (a wholly-owned subsidiary of PaineWebber Group Inc.)
1285 Avenue of the Americas,
New York, NY 10019
Each Sponsor is a Delaware corporation and it, or its predecessor, has acted as
sponsor to many unit investment trusts. As a registered broker-dealer each
Sponsor buys and sells securities (including investment company shares) for
others (including investment companies) and participates as an underwriter in
various selling groups.
TRUSTEE
The Trustee for the S&P500 Trust 2 is The Chase Manhattan Bank, Unit Investment
Trust Department, 4 New York Plaza--6th Floor, New York, New York 10268. The
Trustee for the S&P MidCap Trust is The Bank of New York, 101 Barclay
Street--17W, New York, New York 10268. Each Trustee is supervised by the Federal
Deposit Insurance Corporation, the Board of Governors of the Federal Reserve
System and New York State banking authorities.
UNDERWRITERS' AND SPONSORS' PROFITS
Underwriters receive sales charges when they sell units. Any cash made available
by you to the Sponsors before the settlement date for your units may be used in
the Sponsors' businesses to the extent permitted by federal law and may benefit
the Sponsors.
11
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In maintaining a secondary market, the Sponsors will also realize profits or
sustain losses in the amount of any difference between the prices at which they
buy units and the prices at which they resell or redeem them.
PUBLIC DISTRIBUTION
The Sponsors do not intend to qualify units for sale in any foreign countries.
This prospectus does not constitute an offer to sell units in any country where
units cannot lawfully be sold.
CODE OF ETHICS
The Fund and the Agent for the Sponsors have each adopted a code of ethics
requiring reporting of personal securities transactions by its employees with
access to information on Fund transactions. Subject to certain conditions, the
codes permit employees to invest in Fund securities for their own accounts. The
codes are designed to prevent fraud, deception and misconduct against the Fund
and to provide reasonable standards of conduct. These codes are on file with the
Commission and you may obtain a copy by contacting the Commission at the address
listed on the back cover of this prospectus.
YEAR 2000 ISSUES
Many computer systems were designed in such a way that they may be unable to
distinguish between the year 2000 and the year 1900 (commonly known as the "Year
2000 Problem"). To date we are not aware of any major operational difficulties
resulting from the computer system changes necessary to prepare for the Year
2000. However, there can be no assurance that the Year 2000 Problem will not
adversely affect the issuers of the bonds contained in a Portfolio. We cannot
predict whether any impact will be material to the Fund as a whole.
TAXES
The following summarizes some of the important income tax consequences of
holding Units. It assumes that you are not a dealer, financial institution,
insurance company or other investor with special circumstances or subject to
special rules. You should consult your own tax adviser about your particular
circumstances.
GENERAL TREATMENT OF THE FUND AND YOUR INVESTMENT
The Fund intends to quality for special tax treatment as a regulated investment
company so that it will not be subject to federal income tax on the portion of
its taxable income that it distributes to investors in a timely manner.
DISTRIBUTIONS
Distributions to you of the Fund's dividend income and of the Fund's gains from
Securities it has held for one year or less will generally be taxed to you as
ordinary income, to the extent of the Fund's taxable income not attributable to
the Fund's net capital gain. Distributions to you in excess of the Fund's
taxable income will be treated as a return of capital and will reduce your basis
in your Units. To the extent such distributions exceed your basis, they will be
treated as gain from the sale of your Units.
12
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Distributions to you that are treated as ordinary income will constitute
dividends for federal income tax purposes. Corporate investors may be eligible
for the 70% dividends-received deduction with respect to these distributions.
You should consult your tax adviser.
Distributions to you of the Fund's net capital gain will generally be taxable to
you as long-term capital gain, regardless of how long you have held your Units.
GAIN OR LOSS UPON DISPOSITION
You will generally recognize capital gain or loss when you dispose of your
Units. If you receive Securities upon redemption of your Units, you will
generally recognize capital gain or loss equal to the difference between your
basis in your Units and the fair market value of the Securities received in
redemption.
If your net long-term capital gains exceed your net short-term capital losses,
the excess may be subject to tax at a lower rate than ordinary income. Any
capital gain or loss will generally be long-term if you have held your
investment which produces the gain or loss for more than one year and short-term
otherwise. Because the deductibility of capital losses is subject to
limitations, you may not be able to deduct all of your capital losses. You
should consult your tax adviser in this regard.
YOUR BASIS IN THE SECURITIES
Your aggregate basis in the Units will generally be equal to the cost of your
Units, including the initial sales charge. You should not increase your basis in
your Units by deferred sales charges or organizational expenses.
FOREIGN INVESTORS
If you are a foreign investor and you are not engaged in a U.S. trade or
business, you will generally be subject to 30% withholding tax (or a lower
applicable treaty rate) on your share of dividends received by the Portfolio.
You should consult your tax adviser about the possible application of federal,
state and local, and foreign taxes.
SUPPLEMENTAL INFORMATION
You can receive at no cost supplemental information about the Fund by calling
the Trustee. The supplemental information includes more detailed risk disclosure
and general information about the structure and operation of the Fund. The
supplemental information is also available from the SEC.
13
<PAGE>
EIF INDEX SERIES S&P 500 TRUST 2
FUNDS - EQUITY INVESTOR FUND INDEX SERIES, S&P 500 TRUST - 2
REPORT OF INDEPENDENT ACCOUNTANTS
The Sponsors, Trustee and Holders of Defined Asset Funds - Equity Investor Fund
Index Series, S&P 500 Trust - 2:
We have audited the accompanying statement of condition of Defined Asset Funds -
Equity Investor Fund Index Series, S&P 500 Trust - 2, including the portfolio,
as of December 31, 1999 and the related statements of operations and of changes
in net assets for the years ended December 31, 1999, 1998 and 1997. These
financial statements are the responsibility of the Trustee. Our responsibility
is to express an opinion on these financial statements based on our audits.
We conducted our audits in accordance with auditing standards generally accepted
in the United States of America. Those standards require that we plan and
perform the audit to obtain reasonable assurance about whether the financial
statements are free of material misstatement. An audit includes examining, on a
test basis, evidence supporting the amounts and disclosures in the financial
statements. Securities owned at December 31, 1999, as shown in such portfolio,
were confirmed to us by The Chase Manhattan Bank, the Trustee. An audit also
includes assessing the accounting principles used and significant estimates made
by the Trustee, as well as evaluating the overall financial statement
presentation. We believe that our audits provide a reasonable basis for our
opinion.
In our opinion, the financial statements referred to above present fairly, in
all material respects, the financial position of Defined Asset Funds - Equity
Investor Fund Index Series, S&P 500 Trust - 2 at December 31, 1999 and the
results of its operations and changes in its net assets for the above-stated
years in accordance with accounting principles generally accepted in the United
States of America.
DELOITTE & TOUCHE LLP
New York, N.Y.
April 7, 2000
D - 1
<PAGE>
DEFINED ASSET FUNDS - EQUITY INVESTOR FUND INDEX SERIES,
S&P 500 TRUST - 2
STATEMENT OF CONDITION
AS OF DECEMBER 31, 1999
<TABLE>
<S> <C>
TRUST PROPERTY:
Investment in marketable securities - at value
(cost $317,770,615) (Note 1)...................................... $594,043,214
Dividends receivable................................................ 533,156
Receivable for securities sold or redeemed.......................... 50,926
Receivable for unit creations....................................... 13,274,260
------------
Total trust property...................................... 607,901,556
LESS LIABILITIES:
Advance from Trustee..................................$ 18,597,970
Payable for securities purchased...................... 868,985 19,466,955
------------- ------------
NET ASSETS, REPRESENTED BY:
191,148,076 units of fractional
undivided interest outstanding (Note 3)............. 588,088,725
Undistributed net investment income................... 345,876 $588,434,601
------------ ============
UNIT VALUE ($588,434,601 / 191,148,076 units)......................... $3.07842
========
</TABLE>
See Notes to Financial Statements.
D - 2
<PAGE>
DEFINED ASSET FUNDS - EQUITY INVESTOR FUND INDEX SERIES,
S&P 500 TRUST - 2
STATEMENTS OF OPERATIONS
<TABLE>
<CAPTION>
Years Ended December 31,
1999 1998 1997
<S> <C> <C> <C>
INVESTMENT INCOME:
Dividend income................................... $ 6,800,919 $ 6,206,686 $ 5,437,111
Trustee's fees and expenses....................... (322,245) (283,672) (263,578)
Sponsors' fees.................................... (95,316) (65,594) (38,939)
------------ ----------- -----------
Net investment income............................. 6,383,358 5,857,420 5,134,594
------------ ----------- -----------
REALIZED AND UNREALIZED GAIN ON
INVESTMENTS:
Realized gain on securities sold or
redeemed........................................ 22,791,541 29,054,094 8,835,928
Unrealized appreciation of investments............ 72,334,928 67,393,815 71,135,157
------------ ----------- -----------
Net realized and unrealized gain on
investments..................................... 95,126,469 96,447,909 79,971,085
------------ ----------- -----------
NET INCREASE IN NET ASSETS RESULTING FROM
OPERATIONS........................................ $101,509,827 $102,305,329 $85,105,679
============ ============ ===========
</TABLE>
See Notes to Financial Statements.
D - 3
<PAGE>
DEFINED ASSET FUNDS - EQUITY INVESTOR FUND INDEX SERIES,
S&P 500 TRUST - 2
STATEMENTS OF CHANGES IN NET ASSETS
<TABLE>
<CAPTION>
Years Ended December 31,
1999 1998 1997
<S> <C> <C> <C>
OPERATIONS:
Net investment income......................... $ 6,383,358 $ 5,857,420 $ 5,134,594
Realized gain on securities sold or
redeemed.................................... 22,791,541 29,054,094 8,835,928
Unrealized appreciation of investments........ 72,334,928 67,393,815 71,135,157
------------ ------------ ------------
Net increase in net assets resulting from
operations.................................. 101,509,827 102,305,329 85,105,679
------------ ------------ ------------
DISTRIBUTIONS TO HOLDERS (Note 2):
Income........................................ (6,459,760) (5,794,392) (5,052,051)
Principal..................................... (23,000,107) (23,521,054) (8,451,033)
------------ ------------ ------------
Total distributions........................... (29,459,867) (29,315,446) (13,503,084)
------------ ------------ ------------
CAPITAL SHARE TRANSACTIONS (Note 4):
Issuances of 21,334,738, 27,246,670 and
24,145,777 units, respectively.............. 61,737,160 68,522,390 47,828,865
Redemptions of 5,094,384, 10,048,419 and
2,668,129 units, respectively............... (14,743,642) (23,380,945) (5,411,755)
------------ ------------ ------------
NET CAPITAL SHARE TRANSACTIONS.................. 46,993,518 45,141,445 42,417,110
------------ ------------ ------------
NET INCREASE IN NET ASSETS...................... 119,043,478 118,131,328 114,019,705
NET ASSETS AT BEGINNING OF YEAR................. 469,391,123 351,259,795 237,240,090
------------ ------------ ------------
NET ASSETS AT END OF YEAR....................... $588,434,601 $469,391,123 $351,259,795
============ ============ ============
PER UNIT:
Income distributions during year $0.03518 $0.03429 $0.03335
======== ======== ========
Principal distributions during year $0.12306 $0.13853 $0.05397
======== ======== ========
Net asset value at end of year $3.07842 $2.68365 $2.22726
======== ======== ========
TRUST UNITS OUTSTANDING AT END OF YEAR 191,148,076 174,907,722 157,709,471
=========== =========== ===========
</TABLE>
See Notes to Financial Statements.
D - 4
<PAGE>
DEFINED ASSET FUNDS - EQUITY INVESTOR FUND INDEX SERIES,
S&P 500 TRUST - 2
NOTES TO FINANCIAL STATEMENTS
1. SIGNIFICANT ACCOUNTING POLICIES
The Fund is registered under the Investment Company Act of 1940 as a Unit
Investment Trust. The following is a summary of significant accounting
policies consistently followed by the Fund in the preparation of its
financial statements. The policies are in conformity with generally
accepted accounting principles.
(a) Securities are stated at market value based on the closing sale price
on the exchange on which it is listed. Realized gains or losses on
sales of securities are determined using the first-in, first-out cost
method.
(b) The Fund is not subject to income taxes. Accordingly, no provision
for such taxes is required.
(c) Dividend income is recorded on the ex-dividend date.
2. DISTRIBUTIONS
A distribution of net investment income is made to Holders on the
twenty-fifth day of each month. Receipts other than dividends, after
deductions for redemptions and applicable expenses, are also distributed
periodically.
3. NET CAPITAL
Cost of 191,148,076 units at Dates of Deposit............. $328,145,373
Less sales charge......................................... 7,383,928
------------
Net amount applicable to Holders.......................... 320,761,445
Redemptions of units - net cost of 22,023,241 units
redeemed less redemption amounts........................ (17,275,192)
Realized gain on securities sold or redeemed.............. 65,587,177
Principal distributions................................... (57,257,304)
Net unrealized appreciation of investments................ 276,272,599
------------
Net capital applicable to Holders......................... $588,088,725
============
4. REDEMPTIONS
Holders may request redemptions of units by presentation thereof to the
Trustee, The Chase Manhattan Bank.
5. INCOME TAXES
As of December 31, 1999 net unrealized appreciation of investments, based
on cost for Federal income tax purposes, aggregated $276,272,599 of which
$292,605,125 related to appreciated securities and $16,332,526 related to
depreciated securities. The aggregate cost of investment securities for
Federal income tax purposes was $317,770,615 at December 31, 1999.
D - 5
<PAGE>
DEFINED ASSET FUNDS - EQUITY INVESTOR FUND INDEX SERIES,
S & P 500 TRUST - 2
PORTFOLIO
AS OF DECEMBER 31, 1999
<TABLE>
<CAPTION>
Percentage
of Total
Portfolio Market
No. Common Stocks Shares Cost (1) Value (1) Value
<S> <C> <C> <C> <C>
1 Microsoft Corp. 248,900 $ 6,431,219 $ 29,059,075 4.8917%
2 General Electric Company 158,300 7,393,034 24,496,925 4.1238%
3 Cisco Systems, Inc. 157,800 2,848,243 16,904,325 2.8456%
4 Wal-Mart Stores, Inc. 214,700 3,714,258 14,841,138 2.4983%
5 Exxon Mobil Corp. 166,601 7,431,115 13,421,793 2.2594%
6 Intel Corp. 161,200 3,961,741 13,268,775 2.2336%
7 Lucent Technologies Inc. 151,130 3,458,388 11,306,413 1.9033%
8 International Business 87,000 3,112,272 9,396,000 1.5817%
9 Citigroup Inc. 162,611 3,459,425 9,035,074 1.5209%
10 America Online, Inc. 107,800 4,519,589 8,132,163 1.3690%
11 American International 74,650 3,076,479 8,071,531 1.3587%
12 SBC Communications, Inc. 164,567 4,528,873 8,022,641 1.3505%
13 A T&T Corp 154,118 4,539,895 7,821,489 1.3167%
14 Oracle Corporation 68,718 1,063,073 7,700,711 1.2963%
15 Home Depot Inc. 111,000 2,011,006 7,610,438 1.2811%
16 Merck & Co., Inc. 112,800 4,078,092 7,564,650 1.2734%
17 MCI Worldcom Inc 136,923 3,181,791 7,265,477 1.2231%
18 Proctor & Gamble Co. 63,400 3,113,217 6,946,263 1.1693%
19 Coca-Cola Company 119,200 5,076,849 6,943,400 1.1688%
20 Nortel Networks Corp. 64,440 1,320,754 6,508,440 1.0956%
21 Dell Computer Corp. 122,600 986,223 6,252,600 1.0525%
22 Royal Dutch Petroleum Co 103,400 3,817,790 6,249,238 1.0520%
23 Johnson & Johnson 67,100 3,228,101 6,248,688 1.0519%
24 Bristol-Myers Squibb Co. 95,700 2,636,626 6,142,744 1.0341%
25 Pfizer, Inc. 186,800 2,800,734 6,059,325 1.0200%
26 Sun Microsystems, Inc. 75,400 678,447 5,838,788 0.9829%
27 Qualcomm 32,000 1,429,894 5,636,000 0.9488%
28 Hewlett-Packard Co. 49,200 2,231,016 5,605,725 0.9437%
29 Yahoo 12,700 4,371,800 5,495,131 0.9250%
30 EMC Corp/Mass 49,100 629,326 5,364,175 0.9030%
31 Bell Atlantic Corp. 74,888 2,564,377 4,610,293 0.7761%
32 Time Warner, Inc. 62,100 1,914,985 4,498,369 0.7572%
33 Motorola, Inc. 29,400 1,727,376 4,329,150 0.7288%
34 Bellsouth Corp. 90,800 1,949,565 4,250,575 0.7155%
35 Bank Of America Corp. 82,326 3,294,037 4,131,736 0.6955%
36 Morgan Stanley Dean Witter 26,882 1,270,287 3,837,406 0.6460%
37 Texas Instruments, Inc. 38,700 834,083 3,749,063 0.6311%
38 American Express Company 21,600 1,194,247 3,591,000 0.6045%
39 Lilly (Eli) & Co. 52,600 1,815,606 3,497,900 0.5888%
40 Warner-Lambert Co. 41,400 1,175,497 3,392,213 0.5710%
41 Du Pont (E.I.) De Nemours 50,350 2,309,488 3,316,806 0.5583%
42 GTE Corp. 46,900 2,066,482 3,309,381 0.5571%
</TABLE>
D - 6
<PAGE>
DEFINED ASSET FUNDS - EQUITY INVESTOR FUND INDEX SERIES,
S & P 500 TRUST - 2
PORTFOLIO
AS OF DECEMBER 31, 1999
<TABLE>
<CAPTION>
Percentage
of Total
Portfolio Market
No. Common Stocks Shares Cost (1) Value (1) Value
<S> <C> <C> <C> <C>
43 Wells Fargo & Co. 79,200 $ 2,077,664 $ 3,202,650 0.5391%
44 Tyco International, Ltd. 81,444 1,718,671 3,166,136 0.5330%
45 Ford Motor Company 58,300 1,566,358 3,115,406 0.5244%
46 Chase Manhattan (New) 39,820 1,567,637 3,093,516 0.5208%
47 Federal National Mortgage 49,500 1,751,280 3,090,656 0.5203%
48 Schering-Plough 70,900 1,338,202 2,991,094 0.5035%
49 Amgen, Inc. 49,300 678,819 2,961,081 0.4985%
50 The Walt Disney Co. 99,500 2,287,550 2,910,375 0.4899%
51 Sprint Corp. Fon Group 42,000 981,656 2,827,125 0.4759%
52 Chevron Corp. 31,700 1,863,425 2,746,013 0.4623%
53 Abbott Laboratories 74,200 1,792,585 2,694,388 0.4536%
54 Philip Morris Companies, 114,100 3,493,117 2,645,694 0.4454%
55 McDonald's Corp. 65,300 1,471,949 2,632,406 0.4431%
56 American Home Products 63,000 1,858,398 2,484,563 0.4182%
57 Pepsico, Inc. 70,200 1,893,688 2,474,550 0.4166%
58 CBS Corp 36,754 850,179 2,349,959 0.3956%
59 Applied Materials Inc. 18,300 492,367 2,318,381 0.3903%
60 Mediaone Group Inc 29,500 700,078 2,265,969 0.3814%
61 General Motors Corp. 30,900 1,462,829 2,246,044 0.3781%
62 Compaq Computer Corp. 81,998 1,500,735 2,219,071 0.3736%
63 Honeywell International Inc. 38,237 1,126,896 2,205,797 0.3713%
64 Gillette Company 51,700 1,769,031 2,129,394 0.3585%
65 Sprint Corp.(PCS Group) 20,750 343,939 2,126,875 0.3580%
66 Medtronic, Inc. 57,700 1,191,692 2,102,444 0.3539%
67 Viacom, Inc. Class B 33,600 774,294 2,030,700 0.3418%
68 GAP, Inc. 41,287 472,202 1,899,202 0.3197%
69 Minnesota Mining & Manuf 19,400 1,319,988 1,898,775 0.3196%
70 Boeing Co. 45,113 1,715,528 1,874,968 0.3156%
71 Comcast Corp. Special 36,300 482,225 1,835,419 0.3090%
72 Global Crossing Ltd 36,620 744,393 1,831,000 0.3082%
73 Colgate-Palmolive Co. 28,100 699,590 1,826,500 0.3075%
74 Computer Associates Int'l 25,962 754,229 1,815,717 0.3057%
75 Nextel Comm. 17,500 731,463 1,804,688 0.3038%
76 Banc One Corp. 55,272 2,047,131 1,772,159 0.2983%
77 US West Inc 24,422 850,175 1,758,384 0.2960%
78 Kimberly-Clark Corp. 26,220 994,115 1,710,855 0.2880%
79 Automatic Data Processing 30,200 672,988 1,627,025 0.2739%
80 Anheuser-Busch 22,400 830,334 1,587,600 0.2673%
81 Federal Home Loan Mortgage 33,500 886,964 1,576,594 0.2654%
82 Dayton-Hudson Corp. 21,300 476,395 1,564,219 0.2633%
83 First Union Corp. 47,614 2,253,442 1,562,334 0.2630%
84 Fleet Boston Financial Corp 44,155 1,209,059 1,537,146 0.2588%
</TABLE>
D - 7
<PAGE>
DEFINED ASSET FUNDS - EQUITY INVESTOR FUND INDEX SERIES,
S & P 500 TRUST - 2
PORTFOLIO
AS OF DECEMBER 31, 1999
<TABLE>
<CAPTION>
Percentage
of Total
Portfolio Market
No. Common Stocks Shares Cost (1) Value (1) Value
<S> <C> <C> <C> <C>
85 Enron Corp. 34,500 $ 765,887 $ 1,530,938 0.2577%
86 Corning Inc. 11,800 410,852 1,521,463 0.2561%
87 Charles Schwab Corp 39,600 491,896 1,519,650 0.2558%
88 Electronic Data Systems 22,700 941,396 1,519,481 0.2558%
89 United Technologies Corp 23,100 752,156 1,501,500 0.2528%
90 Unilever N.V. 27,557 1,260,548 1,500,134 0.2525%
91 Merrill Lynch & Co. 17,900 808,384 1,494,650 0.2516%
92 Schlumberger, Ltd. 26,500 1,034,668 1,490,625 0.2509%
93 Alcoa Inc. 17,700 538,472 1,469,100 0.2473%
94 Clear Channel Comm. 16,300 781,718 1,454,775 0.2449%
95 Texaco, Inc. 26,700 1,173,720 1,450,144 0.2441%
96 Carnival Corp. 29,800 1,292,697 1,424,813 0.2399%
97 Bank Of New York Co. Inc 35,500 584,220 1,420,000 0.2390%
98 Dow Chemical 10,600 810,145 1,416,425 0.2384%
99 Walgreen Co. 48,400 503,980 1,415,700 0.2383%
100 Atlantic Richfield 15,600 974,015 1,349,400 0.2272%
101 Solectron Corp 14,100 712,476 1,341,263 0.2258%
102 Alltel Corp 15,100 662,281 1,248,581 0.2102%
103 Tellabs Inc. 19,400 420,043 1,245,238 0.2096%
104 Marsh & Mclennan Companies 12,900 528,747 1,234,369 0.2078%
105 Emerson Electric Co. 21,000 916,748 1,204,875 0.2028%
106 Pharmacia & Upjohn, Inc. 25,050 955,281 1,127,250 0.1898%
107 International Paper Co. 19,949 782,776 1,125,872 0.1895%
108 Gateway Inc 15,300 459,504 1,102,556 0.1856%
109 Gannett Co. 13,500 523,493 1,101,094 0.1854%
110 Lowe's Companies, Inc. 18,400 434,219 1,099,400 0.1851%
111 Fifth Third Bancorp 14,925 613,844 1,095,122 0.1844%
112 Monsanto Co. 30,600 870,515 1,090,125 0.1835%
113 J.P. Morgan & Co. 8,400 763,895 1,063,650 0.1791%
114 Suntrust Banks, Inc. 15,400 823,565 1,059,713 0.1784%
115 MBNA Corporation 38,632 436,630 1,052,722 0.1772%
116 Micron Technology, Inc. 13,000 567,434 1,010,750 0.1701%
117 Eastman Kodak Co. 15,200 993,284 1,007,000 0.1695%
118 Firstar Corporation 47,200 1,329,906 997,100 0.1678%
119 First Data Corp. 20,200 713,074 996,113 0.1677%
120 Illinois Tool Works, Inc 14,500 621,828 979,656 0.1649%
121 Costco Wholesale Corp. 10,704 336,261 976,740 0.1644%
122 Sara Lee Corp. 43,800 780,446 966,338 0.1627%
123 Associates First Cap Corp. 35,058 925,590 961,904 0.1619%
124 Seagram Company, Ltd. 20,900 748,206 939,194 0.1581%
125 BMC Software, Inc. 11,700 662,725 935,269 0.1574%
126 Allstate Corp 38,768 963,369 930,432 0.1566%
</TABLE>
D - 8
<PAGE>
DEFINED ASSET FUNDS - EQUITY INVESTOR FUND INDEX SERIES,
S & P 500 TRUST - 2
PORTFOLIO
AS OF DECEMBER 31, 1999
<TABLE>
<CAPTION>
Percentage
of Total
Portfolio Market
No. Common Stocks Shares Cost (1) Value (1) Value
<S> <C> <C> <C> <C>
127 Cendant Corporation 34,248 $ 870,178 $ 909,713 0.1531%
128 American General Corp. 11,900 548,264 902,913 0.1520%
129 Duke Energy 17,600 853,460 882,200 0.1485%
130 Baxter International, In 14,000 539,759 879,375 0.1480%
131 Safeway Inc 24,500 1,187,817 871,281 0.1467%
132 Omnicom Group 8,600 388,972 860,000 0.1448%
133 Halliburton Co. 21,300 597,648 857,325 0.1443%
134 Household International, 22,679 571,888 844,793 0.1422%
135 U.S. Bancorp 35,100 999,023 835,819 0.1407%
136 Mellon Financial Corp. 24,500 419,733 834,531 0.1405%
137 Weyerhaeuser Co. 11,300 556,942 811,481 0.1366%
138 Caterpillar Inc. 17,200 599,312 809,475 0.1363%
139 Apple Computer Inc. 7,800 293,770 801,938 0.1350%
140 Campbell Soup Co. 20,600 673,204 796,963 0.1342%
141 Columbia HCA Healthcare 27,138 832,956 795,483 0.1339%
142 Analog Devices 8,400 487,069 781,200 0.1315%
143 3Com Corp. 16,600 752,216 780,200 0.1313%
144 Interpublic Group Cos 13,500 274,325 778,781 0.1311%
145 Southern Company 32,400 744,932 761,400 0.1282%
146 Computer Sciences Corp. 8,000 319,984 757,000 0.1274%
147 Kroger Company 40,100 662,877 756,888 0.1274%
148 CVS Corp. 18,900 495,035 754,819 0.1271%
149 Conoco Inc Cl B 30,200 808,876 751,225 0.1265%
150 AES Corporation 10,000 394,357 747,500 0.1258%
151 Xerox Corp. 32,000 876,240 726,000 0.1222%
152 Cigna Corp. 9,000 409,835 725,063 0.1221%
153 Washington Mutual, Inc. 27,798 1,066,901 722,748 0.1217%
154 General Instrument Corp 8,400 183,624 714,000 0.1202%
155 Bestfoods 13,500 490,633 709,594 0.1195%
156 National City Corp. 29,700 852,751 703,519 0.1184%
157 Xilinx Inc Com. 15,400 686,213 700,219 0.1179%
158 Guidant Corp. 14,800 312,527 695,600 0.1171%
159 Heinz (H.J.) Co. 17,250 623,603 686,766 0.1156%
160 Nike, Inc. Class B 13,500 510,085 669,094 0.1126%
161 Wachovia Corp. 9,800 560,057 666,400 0.1122%
162 Albertson's, Inc. 20,442 670,977 659,255 0.1110%
163 Cardinal Health, Inc 13,500 754,064 646,313 0.1088%
164 Computerware, Corp. 17,300 670,850 644,425 0.1085%
165 Novell, Inc. 16,100 262,541 642,994 0.1082%
166 Williams Companies, Inc. 21,000 474,873 641,813 0.1080%
167 Tribune Company 11,500 232,504 633,219 0.1066%
168 PNC Bank Corp. 14,200 514,565 631,900 0.1064%
</TABLE>
D - 9
<PAGE>
DEFINED ASSET FUNDS - EQUITY INVESTOR FUND INDEX SERIES,
S & P 500 TRUST - 2
PORTFOLIO
AS OF DECEMBER 31, 1999
<TABLE>
<CAPTION>
Percentage
of Total
Portfolio Market
No. Common Stocks Shares Cost (1) Value (1) Value
<S> <C> <C> <C> <C>
169 Sysco Corp. 15,900 $ 260,556 $ 629,044 0.1059%
170 Providian Financial Corp 6,900 188,854 628,331 0.1058%
171 Pitney-Bowes, Inc. 12,800 387,989 618,400 0.1041%
172 Aflac 12,800 650,780 604,000 0.1017%
173 PE Corp - Biosystems Group 5,000 160,010 601,563 0.1013%
174 Kellogg Co. 19,500 673,042 600,844 0.1011%
175 Network Appliance 7,200 192,113 598,050 0.1007%
176 FDX Corporation 14,380 350,270 588,681 0.0991%
177 McGraw-Hill Companies Inc. 9,500 269,437 585,438 0.0986%
178 Clorox Co. 11,400 331,545 574,275 0.0967%
179 Phillips Petroleum Co. 12,200 462,056 573,400 0.0965%
180 Kohls Corporattion 7,900 448,772 570,281 0.0960%
181 Northern Trust Corp 10,700 381,606 567,100 0.0955%
182 State Street Corp. 7,700 434,158 562,581 0.0947%
183 Lexmark Intl Group Cl A 6,200 420,647 561,100 0.0945%
184 Sears, Roebuck & Co. 18,200 721,601 553,963 0.0933%
185 Textron, Inc. 7,200 345,219 552,150 0.0929%
186 Teradyne Inc 8,300 401,920 547,800 0.0922%
187 Masco Corp. 21,500 460,572 545,563 0.0918%
188 Conagra Inc. 23,700 507,020 534,731 0.0900%
189 Burlington Northern Santa Fe 22,000 618,318 533,500 0.0898%
190 Citrix Systems Inc 4,300 423,400 528,900 0.0890%
191 PPG Industries, Inc. 8,400 405,489 525,525 0.0885%
192 Union Pacific Corp. 12,000 575,788 523,500 0.0881%
193 ADC Telecommunications 7,200 321,531 522,450 0.0879%
194 General Mills, Inc. 14,600 454,392 521,950 0.0879%
195 May Department Stores Co 16,100 486,040 519,225 0.0874%
196 Waste Management, Inc. 29,810 1,439,132 512,359 0.0862%
197 General Dynamics Corp. 9,700 451,371 511,675 0.0861%
198 Federated Dept. Stores 10,100 339,549 510,681 0.0860%
199 Hartford Financial Service 10,700 351,237 506,913 0.0853%
200 Best Buys 9,900 650,794 496,856 0.0836%
201 Aon Corp 12,375 359,857 495,000 0.0833%
202 Comverse Technology 3,400 373,531 492,150 0.0828%
203 Lehman Brothers Holdings 5,800 336,807 491,188 0.0827%
204 Deere & Co. 11,300 402,098 490,138 0.0825%
205 LSI Logic Corp 7,200 237,652 486,000 0.0818%
206 Kla-Tencor Corporation 4,300 277,625 478,913 0.0806%
207 Chubb Corp. 8,500 434,885 478,656 0.0806%
208 Paychex, Inc. 11,900 403,925 476,000 0.0801%
209 Unisys Corp. 14,900 298,278 475,869 0.0801%
210 AMR Corp. 7,100 338,209 475,700 0.0801%
</TABLE>
D - 10
<PAGE>
DEFINED ASSET FUNDS - EQUITY INVESTOR FUND INDEX SERIES,
S & P 500 TRUST - 2
PORTFOLIO
AS OF DECEMBER 31, 1999
<TABLE>
<CAPTION>
Percentage
of Total
Portfolio Market
No. Common Stocks Shares Cost (1) Value (1) Value
<S> <C> <C> <C> <C>
211 Keycorp 21,500 $ 465,126 $ 475,688 0.0801%
212 Texas Utilities Company 13,300 529,686 472,981 0.0796%
213 Seagate Technology Inc. 10,100 328,513 470,281 0.0792%
214 Wrigley (WM.) Jr Co. 5,600 352,959 464,450 0.0782%
215 Staples Inc 22,350 434,352 463,763 0.0781%
216 Capital One Financial Co 9,500 394,969 457,781 0.0771%
217 Tandy Corp. 9,300 147,542 457,444 0.0770%
218 Limited, Inc. 10,400 210,243 450,450 0.0758%
219 Dover Corp. 9,800 212,266 444,675 0.0749%
220 Circuit City Group 9,800 164,230 441,613 0.0743%
221 Rockwell International 9,200 345,025 440,450 0.0741%
222 Boston Scientific Corp. 20,000 469,047 437,500 0.0736%
223 Edison International Com 16,700 332,113 437,331 0.0736%
224 Alcan Aluminum, Ltd. 10,600 305,043 436,588 0.0735%
225 United Healthcare Corp. 8,200 431,102 435,625 0.0733%
226 BB&T Corp. 15,900 515,858 435,263 0.0733%
227 Ralston-Ralston Purina 15,600 341,130 434,850 0.0732%
228 Union Carbide Corp. 6,500 265,146 433,875 0.0730%
229 Raytheon Co.-Cl.B 16,300 763,022 432,969 0.0729%
230 Ingersoll-Rand Company 7,850 261,153 432,241 0.0728%
231 Molex Inc. 7,600 385,356 430,825 0.0725%
232 Rohm & Haas Co. 10,575 304,311 430,270 0.0724%
233 Delphi Automotive Systems 27,195 399,594 428,321 0.0721%
234 El Paso Energy Corporation 11,000 433,741 426,938 0.0719%
235 Quaker Oats Company 6,500 262,469 426,563 0.0718%
236 Georgia-Pacific Corp. 8,300 239,067 421,225 0.0709%
237 Lockheed Martin Corp. 19,090 672,560 417,594 0.0703%
238 Coca-Cola Enterprises 20,500 609,188 412,563 0.0694%
239 New York Times Company 8,300 163,692 407,738 0.0686%
240 IMS Health, Inc. 14,800 243,165 402,375 0.0677%
241 Aetna Inc. 7,200 514,979 401,850 0.0676%
242 Kansas City Southern Ind. 5,350 303,250 399,244 0.0672%
243 Southwest Airlines 24,337 224,060 393,955 0.0663%
244 Newell Rubbermaid Inc. 13,575 435,017 393,675 0.0663%
245 Avery Dennison Corp. 5,400 195,676 393,525 0.0662%
246 Unocal Corp. 11,700 372,563 392,681 0.0661%
247 Adobe Systems, Inc. 5,800 135,913 390,050 0.0657%
248 Franklin Resources Inc 12,100 620,574 387,956 0.0653%
249 Praxair, Inc. 7,700 258,483 387,406 0.0652%
250 Avon Products, Inc. 11,700 271,357 386,100 0.0650%
251 Occidental Petroleum Corp. 17,700 406,180 382,763 0.0644%
252 PG&E Corporation 18,500 503,955 379,250 0.0638%
</TABLE>
D - 11
<PAGE>
DEFINED ASSET FUNDS - EQUITY INVESTOR FUND INDEX SERIES,
S & P 500 TRUST - 2
PORTFOLIO
AS OF DECEMBER 31, 1999
<TABLE>
<CAPTION>
Percentage
of Total
Portfolio Market
No. Common Stocks Shares Cost (1) Value (1) Value
<S> <C> <C> <C> <C>
253 Marriott Int'l Class A 12,000 $ 377,693 $ 378,750 0.0638%
254 Lincoln National Corp. 9,400 261,299 376,000 0.0633%
255 Norfolk Southern Corp. 18,300 480,532 375,150 0.0632%
256 St. Paul Companies, Inc. 11,000 362,298 370,563 0.0624%
257 USX-Marathon Group. Inc. 15,000 343,261 370,313 0.0623%
258 Unum Corp 11,518 464,692 369,296 0.0622%
259 Air Products & Chemicals 11,000 332,504 369,188 0.0621%
260 Consolidated Edison Inc 10,700 361,750 369,150 0.0621%
261 FPL Group, Inc. 8,600 384,174 368,188 0.0620%
262 Republic New York 5,100 216,908 367,200 0.0618%
263 Public Service Enterpris 10,500 318,494 365,531 0.0615%
264 Coastal Corp. 10,300 222,398 365,006 0.0614%
265 Amsouth Bancorp 18,800 529,632 363,075 0.0611%
266 Dominion Resources Inc. 9,200 366,502 361,100 0.0608%
267 Archer-Daniels-Midland 29,328 436,782 357,435 0.0602%
268 National Semiconductor 8,300 176,390 355,344 0.0598%
269 Tenet Healthcare Corp. 15,000 344,161 352,500 0.0593%
270 Comerica Inc 7,550 281,011 352,491 0.0593%
271 Parametric Technology Co 13,000 282,655 351,813 0.0592%
272 Unicom Corporation 10,500 300,057 351,750 0.0592%
273 Burlington Resources, Inc. 10,500 447,143 347,156 0.0584%
274 Jefferson-Pilot Corp. 5,012 204,943 342,069 0.0576%
275 Barrick Gold Corp. 19,000 473,113 336,063 0.0566%
276 Baker Hughes, Inc. 15,890 366,371 334,683 0.0563%
277 Danaher Corp 6,900 323,424 332,925 0.0560%
278 CSX Corp. 10,500 461,375 329,438 0.0555%
279 SLM Holding Corp 7,700 372,708 325,325 0.0548%
280 Reliant Energy, Inc. 14,200 338,823 324,825 0.0547%
281 Becton Dickinson & Co. 12,100 236,937 323,675 0.0545%
282 Delta Airlines, Inc. 6,400 302,693 318,800 0.0537%
283 Hershey Foods Corp. 6,700 257,616 318,250 0.0536%
284 CENTURYTEL Inc. 6,700 307,013 317,413 0.0534%
285 Allergan Inc. 6,300 132,151 313,425 0.0528%
286 Peco Energy Co. 9,000 254,646 312,750 0.0526%
287 Loews Corp 5,100 403,243 309,506 0.0521%
288 MGIC Investment Group 5,100 199,051 306,956 0.0517%
289 TRW, Inc. 5,900 247,841 306,431 0.0516%
290 Entergy Corp. 11,900 343,120 306,425 0.0516%
291 Southtrust Corp 8,100 320,406 306,281 0.0516%
292 McKesson HBOC Inc. 13,540 959,387 305,496 0.0514%
293 TJX Companies, Inc. 14,900 161,718 304,519 0.0513%
294 American Electric Power 9,300 361,267 298,763 0.0503%
</TABLE>
D - 12
<PAGE>
DEFINED ASSET FUNDS - EQUITY INVESTOR FUND INDEX SERIES,
S & P 500 TRUST - 2
PORTFOLIO
AS OF DECEMBER 31, 1999
<TABLE>
<CAPTION>
Percentage
of Total
Portfolio Market
No. Common Stocks Shares Cost (1) Value (1) Value
<S> <C> <C> <C> <C>
295 Consolidated Natural Gas 4,600 $ 224,103 $ 298,713 0.0503%
296 Dow Jones & Co. 4,300 166,482 292,400 0.0492%
297 Dollar General 12,781 358,359 290,768 0.0489%
298 Tricon Global Restaurant 7,380 171,920 285,053 0.0480%
299 Champion International 4,600 205,639 284,913 0.0480%
300 Fort James Corporation 10,400 401,232 284,700 0.0479%
301 Conseco Inc 15,732 581,879 281,210 0.0473%
302 Parker-Hannifin Corp. 5,450 146,026 279,653 0.0471%
303 Synovus Financial Corp. 13,500 294,978 268,313 0.0452%
304 Union Planters Corp 6,800 335,107 268,175 0.0451%
305 Paine Webber Group 6,900 294,741 267,806 0.0451%
306 Mattel, Inc. 20,297 513,803 266,398 0.0448%
307 Phelps Dodge Corp. 3,940 258,968 264,473 0.0445%
308 Huntington Bancshares 11,075 313,421 264,416 0.0445%
309 Regions Financial Corp 10,500 405,519 263,813 0.0444%
310 Eaton Corp. 3,600 237,389 261,450 0.0440%
311 Golden West Financial Co 7,800 177,693 261,300 0.0440%
312 Fortune Brands, Inc. 7,900 222,527 261,194 0.0440%
313 Kerr-Mcgee Corp. 4,200 185,826 260,400 0.0438%
314 Summit Bancorp 8,400 402,285 257,250 0.0433%
315 Progressive Corp. 3,500 389,811 255,938 0.0431%
316 Firstenergy Corp. 11,200 281,202 254,100 0.0428%
317 MBIA 4,800 270,219 253,500 0.0427%
318 Peoplesoft Inc 11,800 371,122 251,488 0.0423%
319 Willamette Industries 5,400 180,694 250,763 0.0422%
320 Amerada Hess Corp 4,400 232,631 249,700 0.0420%
321 Penney (J.C.) Co., Inc. 12,500 615,468 249,219 0.0420%
322 Columbia Energy Group 3,900 134,330 246,675 0.0415%
323 Cincinnati Financial 7,900 344,471 246,381 0.0415%
324 Bear Stearns Co, Inc 5,753 291,839 245,941 0.0414%
325 Adaptec Inc 4,900 181,000 244,388 0.0411%
326 Knight Ridder 4,100 162,665 243,950 0.0411%
327 Ecolab Inc. 6,200 103,517 242,575 0.0408%
328 Kmart Corp. 23,800 340,195 239,488 0.0403%
329 Dana Corp. 7,972 346,288 238,662 0.0402%
330 Reynolds Metals Co. 3,100 190,410 237,538 0.0400%
331 Carolina Power & Light 7,700 265,082 234,369 0.0395%
332 Whirlpool Corp. 3,600 195,564 234,225 0.0394%
333 Johnson Controls, Inc. 4,100 163,159 233,188 0.0393%
334 Bed Bath & Beyond 6,700 233,806 232,825 0.0392%
335 Nucor Corp. 4,200 218,091 230,213 0.0388%
336 Dun & Bradstreet Corp. 7,700 172,026 227,150 0.0382%
</TABLE>
D - 13
<PAGE>
DEFINED ASSET FUNDS - EQUITY INVESTOR FUND INDEX SERIES,
S & P 500 TRUST - 2
PORTFOLIO
AS OF DECEMBER 31, 1999
<TABLE>
<CAPTION>
Percentage
of Total
Portfolio Market
No. Common Stocks Shares Cost (1) Value (1) Value
<S> <C> <C> <C> <C>
337 Cabletron Systems 8,700 $ 238,283 $ 226,200 0.0381%
338 Autozone 7,000 190,817 226,188 0.0381%
339 DTE Holdings Inc. Com 7,000 231,998 219,625 0.0370%
340 Black & Decker Corp. 4,200 162,077 219,450 0.0369%
341 Mead Corporation 5,000 143,702 217,188 0.0366%
342 Inco, Ltd. 9,200 248,958 216,200 0.0364%
343 Ameren Co. 6,600 262,293 216,150 0.0364%
344 Biomet, Inc. 5,400 99,536 216,000 0.0364%
345 Grainger (W.W.), Inc. 4,500 171,434 215,156 0.0362%
346 T Rowe Price 5,800 182,906 214,238 0.0361%
347 Genuine Parts Company 8,525 240,709 211,527 0.0356%
348 Goodyear Tire & Rubber C 7,500 361,064 211,406 0.0356%
349 Scientific-Atlanta, Inc. 3,800 87,459 211,375 0.0356%
350 Constellation Energy Group 7,200 194,012 208,800 0.0351%
351 Sealed Air Corp 4,029 254,849 208,753 0.0351%
352 Anadarko Petroleum Corp 6,100 203,995 208,163 0.0350%
353 UST, Inc. 8,200 252,887 206,538 0.0348%
354 Block H&R, Inc. 4,700 183,384 205,625 0.0346%
355 Advanced Micro Devices, 7,100 170,789 205,456 0.0346%
356 Wellpoint Health 3,100 271,543 204,406 0.0344%
357 Central & South West Cor 10,200 272,496 204,000 0.0343%
358 Leggett & Platt 9,500 208,951 203,656 0.0343%
359 Apache Corp 5,500 189,909 203,156 0.0342%
360 Old Kent Financial Corp. 5,700 230,767 201,638 0.0339%
361 Sempra Energy 11,565 269,883 200,942 0.0338%
362 Florida Progress Electric Co. 4,700 198,845 198,869 0.0335%
363 Newmont Mining Corp. 8,047 308,389 197,152 0.0332%
364 Maytag Corp. 4,100 100,547 196,800 0.0331%
365 Times Mirror Co. Cl. A 2,900 133,670 194,300 0.0327%
366 Int'l Flavors & Fragrances 5,100 228,560 192,525 0.0324%
367 Vulcan Materials Co. 4,800 228,772 191,700 0.0323%
368 Bausch & Lomb, Inc. 2,800 126,144 191,625 0.0323%
369 Brown-Forman Corp. Class 3,300 139,993 188,925 0.0318%
370 Tosco Corp. 6,900 183,371 187,594 0.0316%
371 Cinergy Corp. 7,627 220,020 184,001 0.0310%
372 Northrop Grumman Corp. 3,400 271,029 183,813 0.0309%
373 Torchmark Corp. 6,300 145,023 183,094 0.0308%
374 Eastman Chemical Company 3,825 222,128 182,405 0.0307%
375 Cooper Industries, Inc. 4,500 202,231 181,969 0.0306%
376 Owens-Illinois Inc. 7,200 261,452 180,450 0.0304%
377 Temple-Inland, Inc. 2,700 140,185 178,031 0.0300%
378 Hasbro Inc. 9,312 156,585 177,510 0.0299%
</TABLE>
D - 14
<PAGE>
DEFINED ASSET FUNDS - EQUITY INVESTOR FUND INDEX SERIES,
S & P 500 TRUST - 2
PORTFOLIO
AS OF DECEMBER 31, 1999
<TABLE>
<CAPTION>
Percentage
of Total
Portfolio Market
No. Common Stocks Shares Cost (1) Value (1) Value
<S> <C> <C> <C> <C>
379 GPU, Inc. 5,900 $ 198,841 $ 176,631 0.0297%
380 Nordstrom, Inc. 6,700 158,927 175,456 0.0295%
381 CMS Enery Group 5,600 246,320 174,650 0.0294%
382 Office Depot 15,900 354,369 173,906 0.0293%
383 Trans. Sedco Forex Inc. 5,130 121,492 172,830 0.0291%
384 Winn-Dixie Stores, Inc. 7,200 245,067 172,350 0.0290%
385 Hilton Hotels Corp. 17,800 220,901 171,325 0.0288%
386 VF Corp. 5,700 180,804 171,000 0.0288%
387 New Century Energies 5,600 269,105 170,100 0.0286%
388 Fluor Corporation 3,700 202,979 169,738 0.0286%
389 Alza Corp Company 4,900 164,333 169,663 0.0286%
390 Toys R Us, Inc.(Holding) 11,800 337,828 168,888 0.0284%
391 Placer Dome, Inc. 15,700 278,702 168,770 0.0284%
392 Sherwin-Williams Co. 8,000 167,717 168,000 0.0283%
393 Paccar, Inc. 3,780 122,843 167,501 0.0282%
394 Freeport Mcmoran Copper 7,900 211,637 166,888 0.0281%
395 Nabisco Group Holdings 15,700 264,668 166,813 0.0281%
396 Watson Pharmaceuticals 4,600 198,510 164,738 0.0277%
397 Harrah's Entertainment 6,200 144,562 163,913 0.0276%
398 Equifax, Inc. 6,800 223,029 160,225 0.0270%
399 Westvaco Corp. 4,850 136,102 158,231 0.0266%
400 P P & L Resources Inc 6,900 168,110 157,838 0.0266%
401 Safeco Corp. 6,300 239,669 156,713 0.0264%
402 Union Pacific Resources 12,138 298,547 154,750 0.0261%
403 Donnelley (R.R.) & Sons 6,100 217,349 151,356 0.0255%
404 Ceridian Corp. 7,000 152,314 150,938 0.0254%
405 Sigma-Aldrich 4,900 120,358 147,306 0.0248%
406 Northern States Power Co 7,500 181,060 146,250 0.0246%
407 Navistar International 3,080 56,948 145,915 0.0246%
408 Goodrich (B.F.) Co. 5,300 199,497 145,750 0.0245%
409 Mirage Resorts Inc. 9,300 227,246 142,406 0.0240%
410 Hercules, Inc. 5,100 216,868 142,163 0.0239%
411 USX-U.S. Steel Group, Inc. 4,300 141,784 141,900 0.0239%
412 I T T Industries 4,200 111,873 140,438 0.0236%
413 Rite Aid Corp. 12,500 266,221 139,844 0.0235%
414 Harcourt General, Inc. 3,400 127,095 136,850 0.0230%
415 Countrywide Credit Inds 5,400 192,737 136,350 0.0230%
416 Supervalu, Inc. 6,700 119,069 134,000 0.0226%
417 Bard (C.R), Inc. 2,500 79,694 132,490 0.0223%
418 Crown Cork & Seal Inc. 5,900 263,270 132,013 0.0222%
419 Stanley Works 4,300 116,604 129,538 0.0218%
420 Pall Corp. 5,933 133,495 127,920 0.0215%
</TABLE>
D - 15
<PAGE>
DEFINED ASSET FUNDS - EQUITY INVESTOR FUND INDEX SERIES,
S & P 500 TRUST - 2
PORTFOLIO
AS OF DECEMBER 31, 1999
<TABLE>
<CAPTION>
Percentage
of Total
Portfolio Market
No. Common Stocks Shares Cost (1) Value (1) Value
<S> <C> <C> <C> <C>
421 St. Jude Medical, Inc. 4,100 $ 135,886 $ 125,819 0.0212%
422 Niagara Mohawk Power Corp. 9,000 127,284 125,438 0.0211%
423 Pinnacle West Capital 4,100 153,279 125,306 0.0211%
424 Wendy's International 5,800 116,728 119,625 0.0201%
425 Ashland, Inc. 3,500 140,488 115,281 0.0194%
426 Engelhard Corp. 6,100 129,167 115,138 0.0194%
427 Darden Restaurants Inc 6,300 51,359 114,188 0.0192%
428 Thermo Electron Corp. 7,600 272,034 114,000 0.0192%
429 Boise Cascade Corp. 2,800 94,546 113,400 0.0191%
430 US Airways Group Nc 3,400 152,970 109,013 0.0184%
431 Great Lakes Chemical Corp. 2,800 151,748 106,915 0.0180%
432 Liz Claiborne, Inc. 2,800 90,182 105,350 0.0177%
433 Mallinckrodt Group Inc. 3,300 117,680 104,981 0.0177%
434 Dillards, Inc. 5,200 180,139 104,975 0.0177%
435 Meredith Corporation 2,500 51,750 104,219 0.0175%
436 Quintiles Trans Corp 5,500 121,188 102,781 0.0173%
437 Allegheny Technologies Inc. 4,513 173,829 101,260 0.0170%
438 Sunoco Inc. 4,300 139,528 101,050 0.0170%
439 Healthsouth Corp 18,600 409,309 99,975 0.0168%
440 Brunswick Corp. 4,400 98,731 97,900 0.0165%
441 Autodesk, Inc. 2,900 103,781 97,875 0.0165%
442 Homestake Mining 12,500 167,813 97,656 0.0164%
443 Cummins Engine Co., Inc. 2,000 87,831 96,625 0.0163%
444 Deluxe Corp. 3,500 120,042 96,031 0.0162%
445 Coors (Adolph) Class B 1,800 49,743 94,500 0.0159%
446 Perkinelmer Inc 2,200 48,458 91,713 0.0154%
447 Service Corp International 13,100 311,301 90,881 0.0153%
448 Tektronix, Inc. 2,300 71,179 89,413 0.0151%
449 Thomas & Betts Corp. 2,800 115,216 89,240 0.0150%
450 Pactiv Corporation 8,300 207,028 88,188 0.0148%
451 Silicon Graphics, Inc. 8,900 241,808 87,331 0.0147%
452 Bemis, Inc. 2,500 79,011 87,188 0.0147%
453 Rowan Companies, Inc. 4,000 54,638 86,750 0.0146%
454 Consolidated Stores Corp 5,300 216,982 86,125 0.0145%
455 FMC Corp. 1,500 101,973 85,969 0.0145%
456 Millipore Corp. 2,200 68,132 84,975 0.0143%
457 Allied Waste Industries 9,100 163,322 80,194 0.0135%
458 HCR Manor Care Inc. 4,950 131,595 79,200 0.0133%
459 Ryder System, Inc. 3,100 85,524 75,756 0.0128%
460 Snap-On, Inc. 2,850 92,921 75,703 0.0127%
461 Nicor, Inc. 2,300 69,299 74,750 0.0126%
462 Eastern Enterprises 1,300 46,330 74,669 0.0126%
</TABLE>
D - 16
<PAGE>
DEFINED ASSET FUNDS - EQUITY INVESTOR FUND INDEX SERIES,
S & P 500 TRUST - 2
PORTFOLIO
AS OF DECEMBER 31, 1999
<TABLE>
<CAPTION>
Percentage
of Total
Portfolio Market
No. Common Stocks Shares Cost (1) Value (1) Value
<S> <C> <C> <C> <C>
463 Andrew Corp. 3,930 $ 99,718 $ 74,424 0.0125%
464 American Greetings 3,100 93,418 73,238 0.0123%
465 Louisiana-Pacific Corp. 5,100 134,872 72,675 0.0122%
466 Centex Corp. 2,900 65,621 71,594 0.0121%
467 Worthington Industries 4,250 81,444 70,391 0.0118%
468 Alberto-Culver Co. Class 2,700 47,833 69,694 0.0117%
469 Humana Inc. 8,100 205,061 66,319 0.0112%
470 Shared Medical Systems 1,300 59,691 66,219 0.0111%
471 Armstrong World Ind., Inc. 1,900 118,343 63,413 0.0107%
472 Crane Co. 3,175 55,558 63,103 0.0106%
473 Potlatch Corp. 1,400 60,087 62,475 0.0105%
474 The Timken Company 3,000 63,884 61,313 0.0103%
475 Ball Corp. 1,500 45,847 59,063 0.0099%
476 National Svc Industries 2,000 62,586 59,000 0.0099%
477 Briggs & Stratton Corp. 1,100 44,079 58,988 0.0099%
478 Cooper Tire & Rubber 3,700 96,661 57,581 0.0097%
479 Peoples Energy Corp. 1,700 54,441 56,950 0.0096%
480 Kaufman & Broad Home Corp. 2,300 43,759 55,631 0.0094%
481 Bethlehem Steel Corp. 6,300 91,142 52,763 0.0089%
482 Owens Corning Com. 2,600 102,397 50,213 0.0085%
483 Great Atlantic & Pacific 1,800 49,005 50,175 0.0084%
484 Ikon Office Solutions, Inc. 7,200 210,429 49,050 0.0083%
485 Longs Drug Stores, Inc. 1,900 42,048 49,044 0.0083%
486 Tupperware Corporation 2,800 121,709 47,425 0.0080%
487 Pulte Corp. 2,100 35,989 47,251 0.0080%
488 W.R. Grace & Co. 3,400 31,897 47,176 0.0079%
489 Polaroid Corp. 2,100 79,841 39,507 0.0067%
490 Jostens, Inc. 1,600 35,666 38,901 0.0065%
491 Oneok, Inc. 1,500 41,313 37,688 0.0063%
492 Springs Industries, Inc. 900 39,514 35,944 0.0061%
493 Fleetwood Enterprises 1,600 46,430 33,000 0.0056%
494 Milacron Inc. 1,800 43,653 27,675 0.0047%
495 Russell Corp. 1,600 46,468 26,800 0.0045%
496 McDermott International 2,900 72,476 26,281 0.0044%
497 Pep Boys-Manny,Moe & Jack 2,500 68,194 22,813 0.0038%
498 Nacco Industries, Inc. 400 22,470 22,225 0.0037%
499 Reebok International, Ltd 2,700 89,554 22,106 0.0037%
500 Foster Wheeler Corp. 2,000 69,263 17,750 0.0030%
-------------- ------------- -------------- ------------
TOTALS 10,426,684 $ 317,770,615 $ 594,043,214 100.0000%
============== ============= ============== ============
</TABLE>
(1) See Notes to Financial Statements.
D - 17
<PAGE>
DEFINED ASSET FUNDS - EQUITY INVESTOR FUND
INDEX SERIES, S&P MIDCAP TRUST
REPORT OF INDEPENDENT ACCOUNTANTS
The Sponsors, Trustee and Holders of Defined Asset Funds - Equity Investor Fund
Index Series, S&P Midcap Trust:
We have audited the accompanying statement of condition of Defined Asset Funds
- Equity Investor Fund Index Series, S&P Midcap Trust, including the portfolio,
as of December 31, 1999 and the related statements of operations and of changes
in net assets for the years ended December 31, 1999, 1998 and 1997. These
financial statements are the responsibility of the Trustee. Our responsibility
is to express an opinion on these financial statements based on our audits.
We conducted our audits in accordance with generally accepted auditing
standards. Those standards require that we plan and perform the audit to obtain
reasonable assurance about whether the financial statements are free of
material misstatement. An audit includes examining, on a test basis, evidence
supporting the amounts and disclosures in the financial statements. Securities
owned at December 31, 1999, as shown in such portfolio, were confirmed to us by
The Bank of New York, the Trustee. An audit also includes assessing the
accounting principles used and significant estimates made by the Trustee, as
well as evaluating the overall financial statement presentation. We believe
that our audits provide a reasonable basis for our opinion.
In our opinion, the financial statements referred to above present fairly, in
all material respects, the financial position of Defined Asset Funds - Equity
Investor Fund Index Series, S&P Midcap Trust at December 31, 1999 and the
results of its operations and changes in its net assets for the above-stated
years in conformity with generally accepted accounting principles.
DELOITTE & TOUCHE LLP
New York, N.Y.
March 28, 2000
D - 1
<PAGE>
DEFINED ASSET FUNDS - EQUITY INVESTOR FUND
INDEX SERIES, S&P MIDCAP TRUST
STATEMENT OF CONDITION
AS OF DECEMBER 31, 1999
<TABLE>
<S> <C> <C>
TRUST PROPERTY:
Investment in marketable securities - at value
(cost $136,373,127) (Note 1).................. $153,741,098
Dividends receivable............................ 95,623
Receivable from securties sold.................. 799,192
---------------
Total trust property.................. 154,635,913
LESS LIABILITIES:
Advance from trustee............................. $ 3,929,927
Accrued expenses................................. 79,358
Payable for securties purchased.................. 357,620 4,366,905
------------ --------------
NET ASSETS, REPRESENTED BY:
94,479,164 units of fractional undivided
interest outstanding (Note 3)................. 150,210,689
Undistributed net investment income............. 58,319
------------
$150,269,008
==============
UNIT VALUE ($150,269,008/94,479,164 units)........ $1.59050
==============
</TABLE>
See Notes to Financial Statements.
D - 2
<PAGE>
DEFINED ASSET FUNDS - EQUITY INVESTOR FUND
INDEX SERIES, S&P MIDCAP TRUST
STATEMENTS OF OPERATIONS
<TABLE>
<CAPTION>
.........Years Ended December 31,.........
1999 1998 1997
------------------------------------------
<S> <C> <C> <C>
INVESTMENT INCOME:
Dividend income................................. $ 1,667,966 $ 1,301,738 $ 1,137,334
Trustee's fees and expenses..................... (129,130) (128,720) (128,718)
Sponsors' fees ................................. (53,067) (24,158) (2,449)
------------------------------------------
Net investment income........................... 1,485,769 1,148,860 1,006,167
------------------------------------------
REALIZED AND UNREALIZED GAIN (LOSS) ON
INVESTMENTS:
Realized gain on securities sold or
redeemed...................................... 19,529,579 26,528,231 8,040,846
Unrealized appreciation (depreciation)
of investments................................ (628,853) (9,055,120) 13,838,901
------------------------------------------
Net realized and unrealized gain on
investments................................... 18,900,726 17,473,111 21,879,747
------------------------------------------
NET INCREASE IN NET ASSETS RESULTING
FROM OPERATIONS................................. $20,386,495 $18,621,971 $22,885,914
==========================================
</TABLE>
See Notes to Financial Statements.
D - 3
<PAGE>
DEFINED ASSET FUNDS - EQUITY INVESTOR FUND
INDEX SERIES, S&P MIDCAP TRUST
STATEMENTS OF CHANGES IN NET ASSETS
<TABLE>
<CAPTION>
.........Years Ended December 31,.........
1999 1998 1997
------------------------------------------
<S> <C> <C> <C>
OPERATIONS:
Net investment income........................... $ 1,485,769 $ 1,148,860 $ 1,006,167
Realized gain on securities sold
or redeemed.................................. 19,529,579 26,528,231 8,040,846
Unrealized appreciation (depreciation)
of investments............................... (628,853) (9,055,120) 13,838,901
------------------------------------------
Net increase in net assets resulting
from operations.............................. 20,386,495 18,621,971 22,885,914
------------------------------------------
DISTRIBUTIONS TO HOLDERS (Note 2):
Income.......................................... (1,523,024) (1,159,944) (946,032)
Principal....................................... (27,778,501) (17,276,624) (7,083,369)
------------------------------------------
Total distributions............................. (29,301,525) (18,436,568) (8,029,401)
------------------------------------------
CAPITAL SHARE TRANSACTIONS:
Issuance of 25,550,703, 19,617,727 and 8,266,165
additional units, respectively ............... 40,941,769 34,580,318 13,613,877
Redemptions of 2,738,414, 3,694,169 and
2,071,441 units, respectively ................ (4,555,877) (6,109,494) (3,299,904)
------------------------------------------
Net capital share transactions.................. 36,385,892 28,470,824 10,313,973
------------------------------------------
NET INCREASE IN NET ASSETS........................ 27,470,862 28,656,227 25,170,486
NET ASSETS AT BEGINNING OF YEAR................... 122,798,146 94,141,919 68,971,433
------------------------------------------
NET ASSETS AT END OF YEAR......................... $150,269,008 $122,798,146 $94,141,919
==========================================
PER UNIT:
Income distributions during year................ .01828 .01856 .01796
==========================================
Principal distributions during year............. .32793 .26442 .12801
==========================================
Net asset value at end of year.................. 1.59050 1.71346 1.68885
==========================================
TRUST UNITS OUTSTANDING AT END OF YEAR............ 94,479,164 71,666,875 55,743,317
==========================================
</TABLE>
See Notes to Financial Statements.
D - 4
<PAGE>
DEFINED ASSET FUNDS - EQUITY INVESTOR FUND
INDEX SERIES, S&P MIDCAP TRUST
NOTES TO FINANCIAL STATEMENTS
1. SIGNIFICANT ACCOUNTING POLICIES
The Fund is registered under the Investment Company Act of 1940 as a Unit
Investment Trust. The following is a summary of significant accounting
policies consistently followed by the Fund in the preparation of its
financial statements. The policies are in conformity with generally
accepted accounting principles.
(a) Securities are stated at market value; for securities listed on a
national securities exchange, value is based on the closing price on
such exchange and for securities not so listed, value is based on the
current bid price on the over-the-counter market. Realized gains or
losses on sales of securities are determined using the first-in,
first-out cost method.
(b) The Fund is not subject to income taxes. Accordingly, no
provision for such taxes is required.
(c) Dividend income is recorded on the ex-dividend date.
2. DISTRIBUTIONS
A distribution of net investment income is made to Holders on the
twenty-fifth day of each month. Receipts other than dividends, after
deductions for redemptions and applicable expenses, are also distributed
periodically.
3. NET CAPITAL
<TABLE>
<S> <C>
Cost of 94,479,164 units at Date of Deposit................. $135,599,609
Less sales charge........................................... 3,051,263
---------------
Net amount applicable to Holders............................ 132,548,346
Redemptions of units - net cost of 10,981,253 units
redeemed less redemption amounts.......................... (3,218,130)
Realized gain on securities sold or redeemed................ 63,942,215
Principal distributions..................................... (60,429,713)
Net unrealized appreciation of investments.................. 17,367,971
---------------
Net capital applicable to Holders........................... $150,210,689
===============
</TABLE>
D - 5
<PAGE>
DEFINED ASSET FUNDS - EQUITY INVESTOR FUND
INDEX SERIES, S&P MIDCAP TRUST
NOTES TO FINANCIAL STATEMENTS
4. INCOME TAXES
As of December 31, 1999, net unrealized appreciation of investments, based
on cost for Federal income tax purposes, aggregated $17,367,971, of which
$36,033,391 related to appreciated securities and $18,665,420 related to
depreciated securities. The cost of investment securities for Federal
income tax purposes was $136,373,127 at December 31, 1999.
D - 6
<PAGE>
DEFINED ASSET FUNDS - EQUITY INVESTOR FUND
INDEX SERIES, S&P MIDCAP TRUST
PORFOLIO
AS OF DECEMBER 31, 1999
<TABLE>
<CAPTION>
Percentage
Port- of Total
folio Market
No. Common Stocks Shares Cost (1) Value (1) Value
--- ------------- ------ -------- -------- -----
<S> <C> <C> <C> <C> <C>
1 Veritas Software 43,200 $ 1,488,223 $ 6,183,000 4.02 %
2 Siebel Sys. Inc. 32,200 696,413 2,704,800 1.76 %
3 Maxim Integrated Products 45,600 822,700 2,151,750 1.40 %
4 Biogen Inc. 25,100 799,456 2,120,950 1.38 %
5 Intuit Inc. 32,600 708,945 1,953,963 1.27 %
6 Medimmune Inc. 11,200 859,256 1,857,800 1.21 %
7 Linear Technology Corporation 25,700 890,234 1,839,156 1.20 %
8 Univision 17,000 1,061,821 1,737,188 1.13 %
9 Altera Corporation 33,300 713,447 1,650,431 1.07 %
10 Harley Davidson Inc. 25,200 833,591 1,614,375 1.05 %
11 Broadwing Inc. 36,100 747,095 1,331,188 0.87 %
12 Vitesse 25,600 691,019 1,342,400 0.87 %
13 Chiron Corporation 30,300 649,444 1,283,963 0.84 %
14 Telephone & Data 10,300 509,166 1,297,800 0.84 %
15 Marshall & Ilsley Corporation 17,800 835,507 1,118,063 0.73 %
16 Stryker Corporation 16,200 615,850 1,127,925 0.73 %
17 Tiffany & Co. 12,000 319,889 1,071,000 0.70 %
18 E Trade Group Inc. 40,800 1,042,024 1,065,900 0.69 %
19 JBL 14,600 708,418 1,065,800 0.69 %
20 Atmel Corporation 33,600 364,112 993,300 0.65 %
21 Cintas Corporation 18,500 864,766 982,813 0.64 %
22 Legato Systems 14,200 492,206 977,138 0.64 %
23 SCI Systems Inc. 12,000 488,395 986,250 0.64 %
24 Cadence Design Sys. Inc. 40,600 847,353 974,400 0.63 %
25 Qlogic Corporation 6,100 508,384 975,238 0.63 %
26 Sanmina Corporation 9,700 668,256 968,788 0.63 %
27 Checkfree Holdings 9,100 452,085 950,950 0.62 %
28 Comdisco Inc. 25,544 338,603 951,514 0.62 %
29 Symbol Technologies 14,787 354,828 939,899 0.61 %
30 Millennium Pharmacies 7,400 554,300 902,800 0.59 %
31 Conford EFS, Inc. 34,350 867,597 884,513 0.58 %
32 Washington Post 1,600 755,235 889,400 0.58 %
33 Electronic Arts 10,500 448,190 882,000 0.57 %
34 Forest Laboratories Inc. 13,900 475,275 853,981 0.56 %
</TABLE>
D - 7
<PAGE>
DEFINED ASSET FUNDS - EQUITY INVESTOR FUND
INDEX SERIES, S&P MIDCAP TRUST
PORFOLIO
AS OF DECEMBER 31, 1999
<TABLE>
<CAPTION>
Percentage
Port- of Total
folio Market
No. Common Stocks Shares Cost (1) Value (1) Value
- --- ------------- ------ -------- -------- -----
<S> <C> <C> <C> <C> <C>
35 American Power Conversion Corp. 32,100 $ 470,135 $ 846,638 0.55 %
36 Hispanic Broadcasting 9,100 599,569 839,191 0.55 %
37 Zions Bancorp 14,300 738,387 846,381 0.55 %
38 First Security Corporation 32,630 589,894 833,085 0.54 %
39 DST 10,600 725,493 808,913 0.53 %
40 Novellus Systems Inc. 6,500 459,750 796,453 0.52 %
41 CVG 25,500 509,326 784,125 0.51 %
42 Fiserv Inc. 20,450 480,433 783,491 0.51 %
43 Synopsys Inc. 11,800 565,567 787,650 0.51 %
44 Starbucks Coffee 30,400 642,993 737,200 0.48 %
45 Noble Drilling Corporation 21,900 410,485 717,225 0.47 %
46 Rational Software Co. 14,600 511,569 717,225 0.47 %
47 Weatherford Intl. Inc. 18,021 654,606 719,714 0.47 %
48 Nabors Inds. Inc. 23,100 470,245 714,656 0.46 %
49 Westwood One, Inc. 9,200 449,695 699,200 0.45 %
50 Calpine Corporation 10,500 452,741 672,000 0.44 %
51 Charter One Financial Inc. 35,351 918,152 676,088 0.44 %
52 Montana Power Company 18,400 355,139 663,550 0.43 %
53 Genzyme Corporation 14,000 481,907 630,000 0.41 %
54 Park Pl Entmn. Corporation 50,900 651,895 636,250 0.41 %
55 AMBAC Financial Group 11,700 542,634 610,594 0.40 %
56 First Tennessee National Corp. 21,700 559,379 618,450 0.40 %
57 NCR Corporation 16,100 586,718 609,788 0.40 %
58 Network Associates 23,250 935,668 620,484 0.40 %
59 Tyson Foods 38,300 734,782 622,375 0.40 %
60 Cypress Semiconducter 18,200 258,706 589,225 0.38 %
61 Microchip Technology 8,500 249,068 581,719 0.38 %
62 Reliastar 14,800 645,578 579,975 0.38 %
63 CDW Computer Centers 7,250 469,659 570,031 0.37 %
64 Health Management 42,250 638,888 565,094 0.37 %
65 Symantec Corporation 9,700 217,588 568,663 0.37 %
66 Jones Apparel Group 20,406 504,022 553,511 0.36 %
67 Visx Inc. 10,700 683,088 553,725 0.36 %
68 Waters Corporation 10,400 635,016 551,200 0.36 %
</TABLE>
D - 8
<PAGE>
DEFINED ASSET FUNDS - EQUITY INVESTOR FUND
INDEX SERIES, S&P MIDCAP TRUST
PORFOLIO
AS OF DECEMBER 31, 1999
<TABLE>
<CAPTION>
Percentage
Port- of Total
folio Market
No. Common Stocks Shares Cost (1) Value (1) Value
- --- ------------- ------ -------- -------- -----
<S> <C> <C> <C> <C> <C>
69 American Standard 11,800 $ 507,169 $ 541,325 0.35 %
70 Mylan Labs 21,550 524,487 542,791 0.35 %
71 Sepracor Inc. 5,500 474,030 545,531 0.35 %
72 Ensco International 22,900 360,706 523,838 0.34 %
73 Keyspan Energy Corporation 22,350 693,972 518,241 0.34 %
74 Readers Digest Association 17,800 635,456 520,650 0.34 %
75 Allamerica Financial 9,000 516,373 500,625 0.33 %
76 New England Electric 9,900 423,691 512,325 0.33 %
77 Sterling Commerce Inc. 14,711 507,071 501,093 0.33 %
78 Sungard Data Systems Inc. 21,400 641,070 508,250 0.33 %
79 Allegheny Energy Inc. 18,400 556,399 495,650 0.32 %
80 B J Svcs. Co. 11,800 265,666 493,388 0.32 %
81 Dollar Tree Stores 10,300 362,094 498,906 0.32 %
82 Edward A.G. Inc. 15,387 429,533 493,346 0.32 %
83 Hannaford Bros. Co. 7,000 279,086 485,188 0.32 %
84 Hormel (Geo. A.) & Co. 12,100 385,429 491,563 0.32 %
85 Consolidated Paper Inc. 15,100 401,300 480,369 0.31 %
86 Devon Energy 14,300 567,830 470,113 0.31 %
87 Family Dlr. Stores Inc. 28,800 398,959 469,800 0.31 %
88 Global Marine Inc. 29,100 367,708 483,788 0.31 %
89 Manpower Inc. 12,700 388,263 477,838 0.31 %
90 Abercrombie & Fitch 17,200 486,051 459,025 0.30 %
91 Bowater Inc. 8,600 378,288 467,088 0.30 %
92 DPL Inc. 26,500 532,317 458,781 0.30 %
93 Potomac Electric Power Company 19,800 499,679 454,163 0.30 %
94 Scana Corporation 17,300 470,002 464,938 0.30 %
95 Unitrin Inc. 12,100 478,250 455,263 0.30 %
96 BJ'S Club 12,300 242,249 448,950 0.29 %
97 Integrated Device Tech. 15,200 209,163 440,800 0.29 %
98 International Speed 8,900 551,535 448,338 0.29 %
99 Ivax Corporation 17,600 280,820 453,200 0.29 %
100 Northeast Utilities 21,900 411,635 450,319 0.29 %
101 Sterling Software 14,100 374,642 444,150 0.29 %
102 Viad Corporation 15,800 354,179 440,425 0.29 %
</TABLE>
D - 9
<PAGE>
DEFINED ASSET FUNDS - EQUITY INVESTOR FUND
INDEX SERIES, S&P MIDCAP TRUST
PORFOLIO
AS OF DECEMBER 31, 1999
<TABLE>
<CAPTION>
Percentage
Port- of Total
folio Market
No. Common Stocks Shares Cost (1) Value (1) Value
- --- ------------- ------ -------- -------- -----
<S> <C> <C> <C> <C> <C>
103 Vishay Intertechnology 14,076 $ 273,440 $ 445,154 0.29 %
104 Avnet, Inc. 7,000 351,051 423,500 0.28 %
105 Compass Bancshares 19,000 553,510 423,938 0.28 %
106 DQE 12,600 485,595 436,275 0.28 %
107 Dial Corporation 17,600 373,398 427,900 0.28 %
108 Greenpoint Finance 18,000 577,761 428,625 0.28 %
109 Murphy Oil Corporation 7,500 326,187 430,313 0.28 %
110 Robert Half International 15,000 543,489 428,438 0.28 %
111 Sybron International Corporation 17,300 404,505 427,094 0.28 %
112 Williams-Sonoma 9,300 432,392 427,800 0.28 %
113 Express Scripts Inc. 6,400 321,782 409,600 0.27 %
114 National Commerce Bancorp 18,100 435,275 410,644 0.27 %
115 Quantum Corporation 27,500 432,738 415,938 0.27 %
116 SPX Corporation 5,200 297,399 420,225 0.27 %
117 Smith International Inc. 8,200 285,073 407,438 0.27 %
118 Arrow Electronics Inc. 16,000 332,987 406,000 0.26 %
119 Chris Craft Industries Inc. 5,604 252,394 404,189 0.26 %
120 Energy East Corporation 19,100 381,124 397,519 0.26 %
121 Gilead Sciences Inc. 7,300 383,027 395,113 0.26 %
122 Illinova Corporation 11,700 309,387 406,575 0.26 %
123 Nstar 10,000 419,262 405,000 0.26 %
124 Teco Energy 21,600 528,302 400,950 0.26 %
125 ACS 8,200 358,846 377,200 0.25 %
126 AH Bello Corp. 19,800 401,959 377,438 0.25 %
127 Informix Corporation 33,600 391,285 384,300 0.25 %
128 Keane Inc. 12,000 551,377 381,000 0.25 %
129 Kinder Morgan Inc. 18,750 522,829 378,516 0.25 %
130 Litton Industries Inc. 7,600 394,095 379,050 0.25 %
131 Minimed Inc. 5,200 442,008 380,900 0.25 %
132 North Fork Bancor 21,750 519,041 380,625 0.25 %
133 Nova 12,300 379,818 388,219 0.25 %
134 Pacificare Health Sys-B Inc. 7,256 532,852 384,568 0.25 %
135 Sonoco Products Co. 17,015 451,445 387,091 0.25 %
136 USG Corp. 8,200 400,891 386,425 0.25 %
</TABLE>
D - 10
<PAGE>
DEFINED ASSET FUNDS - EQUITY INVESTOR FUND
INDEX SERIES, S&P MIDCAP TRUST
PORFOLIO
AS OF DECEMBER 31, 1999
<TABLE>
<CAPTION>
Percentage
Port- of Total
folio Market
No. Common Stocks Shares Cost (1) Value (1) Value
- --- ------------- ------ -------- -------- -----
<S> <C> <C> <C> <C> <C>
137 Wisconsin Energy 19,700 $ 546,456 $ 379,225 0.25 %
138 Associated Banc. Corporation 10,675 399,766 365,619 0.24 %
139 The Finova Group, Inc. 10,200 494,472 362,100 0.24 %
140 LG & E Energy 21,600 545,480 376,650 0.24 %
141 Mercantile Bankshare Corporation 11,500 331,897 367,281 0.24 %
142 Nisource Inc. 20,900 495,156 373,588 0.24 %
143 Premier Parks 13,000 494,665 375,375 0.24 %
144 Saks Incorporated 24,160 739,572 375,990 0.24 %
145 Alliant Communications 13,100 410,558 360,250 0.23 %
146 American Eagle Outfit 7,800 350,213 351,000 0.23 %
147 First Virginia Banks Inc. 8,250 340,901 354,750 0.23 %
148 Harris Corporation 13,300 255,430 354,944 0.23 %
149 Lear Corporation 11,200 538,634 358,400 0.23 %
150 McCormick & Co. Inc. 11,800 339,138 351,050 0.23 %
151 The PMI Group Inc. 7,400 274,553 361,213 0.23 %
152 Polycom Inc. 5,500 339,475 350,281 0.23 %
153 Acxiom Corporation 14,300 281,495 343,200 0.22 %
154 Adtran, Inc. 6,600 257,507 339,488 0.22 %
155 American Water Works 16,200 436,194 344,250 0.22 %
156 Firstmerit Corporation 15,000 398,625 345,000 0.22 %
157 Georgia Pacific Timber Group 13,800 329,606 339,825 0.22 %
158 Hillenbrand Industries Inc. 10,900 526,451 345,394 0.22 %
159 ICN Pharmacueticals 13,100 493,772 331,594 0.22 %
160 Legg Mason Inc. 9,500 306,204 344,375 0.22 %
161 MCN Energy Group Inc. 14,300 320,939 339,625 0.22 %
162 Midamerican Energy Co. 10,000 323,469 336,875 0.22 %
163 Protective Life Corporation 10,800 393,500 343,575 0.22 %
164 Shaw Industries Inc. 22,300 390,633 344,256 0.22 %
165 TCF Financial Corporation 13,800 405,218 343,275 0.22 %
166 Tidewater Inc. 9,300 307,295 334,800 0.22 %
167 AK Steel Holding Corporation 17,200 338,745 324,650 0.21 %
168 Martin Marietta Materials 7,800 337,889 319,800 0.21 %
169 Outback Steakhouse 12,550 291,658 325,516 0.21 %
170 RJ Reynolds Tobacco 18,300 580,966 322,538 0.21 %
</TABLE>
D - 11
<PAGE>
DEFINED ASSET FUNDS - EQUITY INVESTOR FUND
INDEX SERIES, S&P MIDCAP TRUST
PORFOLIO
AS OF DECEMBER 31, 1999
<TABLE>
<CAPTION>
Percentage
Port- of Total
folio Market
No. Common Stocks Shares Cost (1) Value (1) Value
- --- ------------- ------ -------- -------- -----
<S> <C> <C> <C> <C> <C>
171 Ultramar Diamond Shamrock Corp. 14,462 $ 420,902 $ 328,107 0.21 %
172 Whitman Corporation 23,500 412,841 315,781 0.21 %
173 IMC Global Inc. 19,100 569,670 312,763 0.20 %
174 International Game Technology 15,000 313,078 304,688 0.20 %
175 Lincare Hldgs. 9,000 318,250 312,188 0.20 %
176 Mandalay 15,100 348,922 303,888 0.20 %
177 Miller Herman Inc. 13,300 234,394 305,900 0.20 %
178 National Fuel Gas Co. 6,500 269,613 302,250 0.20 %
179 Pentair Inc. 8,000 283,526 308,000 0.20 %
180 Southdown Incorporated 6,000 352,588 309,750 0.20 %
181 Storage Technology 16,700 446,795 307,906 0.20 %
182 Sykes Enterprises 7,100 194,356 311,513 0.20 %
183 Utilicorp United 15,450 344,925 300,309 0.20 %
184 CCB Financial Corporation 6,800 348,606 296,225 0.19 %
185 Hubbell Inc. Class B 10,840 403,524 295,390 0.19 %
186 Old Republic International 21,050 482,118 286,806 0.19 %
187 Reynolds & Reynolds Company 12,900 225,901 290,250 0.19 %
188 Sotheby's Holdings Inc. 9,800 220,350 294,000 0.19 %
189 Astoria Financial Corporation 9,100 430,866 276,981 0.18 %
190 CNF Transportation Inc. 8,100 267,241 279,450 0.18 %
191 Diebold Inc. 11,468 329,971 269,498 0.18 %
192 Dime Bancorp Inc. 18,500 454,303 279,813 0.18 %
193 Fastenal Company 6,300 263,653 283,106 0.18 %
194 Gatx Corporation 8,200 262,503 276,750 0.18 %
195 Hibernia Bancorp 26,700 397,915 283,688 0.18 %
196 IBP Inc. 15,400 326,792 277,200 0.18 %
197 Lubizol Corporation 9,100 271,600 280,963 0.18 %
198 Puget Sound Energy, Inc. 14,100 364,585 273,188 0.18 %
199 Ross Stores 15,100 346,163 270,856 0.18 %
200 Solutia Inc. 18,400 407,452 284,050 0.18 %
201 Sovereign Bancorp 36,600 503,087 272,784 0.18 %
202 U.S. Foodservice 16,900 333,291 283,075 0.18 %
203 American Financial Group Hldg. 9,700 344,230 255,838 0.17 %
204 Apollo Group Inc. 12,900 381,217 258,806 0.17 %
</TABLE>
D - 12
<PAGE>
DEFINED ASSET FUNDS - EQUITY INVESTOR FUND
INDEX SERIES, S&P MIDCAP TRUST
PORFOLIO
AS OF DECEMBER 31, 1999
<TABLE>
<CAPTION>
Percentage
Port- of Total
folio Market
No. Common Stocks Shares Cost (1) Value (1) Value
- --- ------------- ------ -------- -------- -----
<S> <C> <C> <C> <C> <C>
205 Brinker Intl. Inc. 10,925 $ 236,054 $ 262,200 0.17 %
206 CK Witco 19,879 447,136 265,882 0.17 %
207 Cambridge Tech. Partn. 10,100 215,306 265,125 0.17 %
208 Conectiv 15,475 335,438 260,173 0.17 %
209 Dean Foods Co. 6,500 258,513 258,375 0.17 %
210 Flowers Industries Inc. 16,750 284,557 266,953 0.17 %
211 Mohawk Industries Inc. 10,100 299,001 266,388 0.17 %
212 Provident Financial 7,300 316,569 261,888 0.17 %
213 Wilmington Trust 5,400 259,792 260,550 0.17 %
214 A.C. Nielson Corporation 9,700 209,288 238,863 0.16 %
215 Barnes & Noble 11,600 339,730 239,250 0.16 %
216 Beckman Instrs. Inc. 4,800 214,739 244,200 0.16 %
217 City National Corporation 7,600 193,531 250,325 0.16 %
218 Federal-Mogul Corporation 12,300 581,246 247,538 0.16 %
219 Harte-Hanks 11,500 305,604 250,125 0.16 %
220 Ipalco Enterprises 14,300 271,382 243,994 0.16 %
221 Lyondell Petrochemical 19,600 418,883 249,900 0.16 %
222 OGE Energy Corporation 13,000 302,213 247,000 0.16 %
223 Pacific Century Financial Corp. 13,400 274,813 250,413 0.16 %
224 Payless Shoesource 5,200 260,423 244,400 0.16 %
225 Santa Fe Snyder 30,800 264,949 246,400 0.16 %
226 Cabot Corporation 11,000 260,893 224,125 0.15 %
227 Callaway Golf Co. 12,700 246,641 224,631 0.15 %
228 Kansas City Power & Light Co. 10,300 276,296 227,244 0.15 %
229 Lee Enterprises Inc. 7,400 186,792 236,338 0.15 %
230 Media General Inc. 4,400 181,646 228,800 0.15 %
231 Modis Professional 16,000 414,696 228,000 0.15 %
232 Neiman Marcus Group 8,200 222,281 229,088 0.15 %
233 Sierra Pacific Resource 13,100 322,313 226,794 0.15 %
234 Tech Data Corporation 8,700 335,488 235,988 0.15 %
235 Borders Group, Inc. 13,000 373,611 208,813 0.14 %
236 Clayton Homes Inc. 23,313 275,424 214,188 0.14 %
237 Dentsply Intl. Inc. 8,800 206,721 207,900 0.14 %
238 Devry Inc. 11,600 234,392 216,050 0.14 %
</TABLE>
D - 13
<PAGE>
DEFINED ASSET FUNDS - EQUITY INVESTOR FUND
INDEX SERIES, S&P MIDCAP TRUST
PORFOLIO
AS OF DECEMBER 31, 1999
<TABLE>
<CAPTION>
Percentage
Port- of Total
folio Market
No. Common Stocks Shares Cost (1) Value (1) Value
- --- ------------- ------ -------- -------- -----
<S> <C> <C> <C> <C> <C>
239 First Health Group 8,200 $ 188,774 $ 220,375 0.14 %
240 Harsco Corporation 6,700 221,032 212,725 0.14 %
241 Hon Inds. Inc. 10,100 217,806 221,569 0.14 %
242 Houghton Mifflin Company 5,200 166,743 219,375 0.14 %
243 Interstate Bakeries 11,700 307,987 212,063 0.14 %
244 Lancaster Colony Corporation 6,665 196,021 220,778 0.14 %
245 Meritor Automotive 11,500 254,696 222,813 0.14 %
246 Minnesota Power And Light Co. 12,300 229,530 208,331 0.14 %
247 Ocean Energy Inc. 27,800 468,312 215,450 0.14 %
248 Rayonier Inc. 4,600 184,498 222,238 0.14 %
249 Sensormatic Electronics Corp. 12,650 211,702 220,584 0.14 %
250 Washington Gas Light 7,700 184,022 211,750 0.14 %
251 BLYTH 8,100 254,445 198,956 0.13 %
252 Cordant 6,100 187,828 201,300 0.13 %
253 Foundation Health Systems Inc. 20,400 433,444 202,725 0.13 %
254 Gartner Group Inc. 14,700 317,531 203,044 0.13 %
255 Helmerich & Payne Inc. 9,000 191,520 196,313 0.13 %
256 Imation Corporation 6,100 132,209 204,731 0.13 %
257 Noble Affiliates Inc. 9,500 297,460 203,656 0.13 %
258 Questar Corporation 13,700 246,762 205,500 0.13 %
259 Suiza Foods Corporation 5,200 240,177 206,050 0.13 %
260 Teleflex 6,300 204,717 197,269 0.13 %
261 Airborne Freight Corporation 8,100 207,291 178,200 0.12 %
262 Bergen Brunswig Corporation 22,350 403,538 185,784 0.12 %
263 Borg-Warner Automotive, Inc. 4,500 234,215 182,250 0.12 %
264 Carlisle Companies Inc. 5,000 177,297 180,000 0.12 %
265 Claires Stores Inc. 8,575 140,388 191,866 0.12 %
266 Donaldson Co. Inc. 7,700 128,053 185,281 0.12 %
267 Furniture Brands Intl. 8,200 214,208 180,400 0.12 %
268 Hanover Compressor Co. 4,800 157,488 181,200 0.12 %
269 Omnicare, Inc. 15,200 438,518 182,400 0.12 %
270 RPM, Inc. 17,975 257,128 183,120 0.12 %
271 Swift Transportation 10,700 236,475 188,588 0.12 %
272 Trigon Healthcare 6,500 228,163 191,750 0.12 %
</TABLE>
D - 14
<PAGE>
DEFINED ASSET FUNDS - EQUITY INVESTOR FUND
INDEX SERIES, S&P MIDCAP TRUST
PORFOLIO
AS OF DECEMBER 31, 1999
<TABLE>
<CAPTION>
Percentage
Port- of Total
folio Market
No. Common Stocks Shares Cost (1) Value (1) Value
- --- ------------- ------ -------- -------- -----
<S> <C> <C> <C> <C> <C>
273 Trinity Industries 6,550 $ 227,795 $ 186,266 0.12 %
274 Valero Refining & Marketing Co. 9,300 206,087 184,838 0.12 %
275 Webster Financial 7,600 201,413 179,075 0.12 %
276 York International 6,500 271,782 178,344 0.12 %
277 AGL Resources 9,500 186,111 161,500 0.11 %
278 Alexander & Baldwin Inc. 7,200 176,070 164,250 0.11 %
279 Church & Dwight Co. 6,500 104,949 173,469 0.11 %
280 Comsat Corporation 8,800 236,328 174,900 0.11 %
281 Cytec Ind. Inc. 7,000 239,886 161,875 0.11 %
282 Everest Reinsurance Holdings 7,800 278,111 174,038 0.11 %
283 HSB Group, Inc. 4,850 188,343 163,991 0.11 %
284 Idacorp Inc. Hldg. 6,300 197,822 168,919 0.11 %
285 Kennametal Inc. 5,000 160,324 168,125 0.11 %
286 Keysone Fin. Inc. 8,100 253,947 170,606 0.11 %
287 Lands' End Inc. 5,000 138,140 173,750 0.11 %
288 Oxford Health Plans 13,600 511,617 172,550 0.11 %
289 Scholastic Corporation 2,800 148,747 174,125 0.11 %
290 Universal Foods 8,400 172,003 171,150 0.11 %
291 Westamerica Bancorp 6,300 223,675 176,006 0.11 %
292 Alaska Air Group, Inc. 4,400 186,716 154,550 0.10 %
293 Albemarle Corporation 7,800 153,277 149,663 0.10 %
294 Apria Healthcare Group 8,700 162,118 156,056 0.10 %
295 CMP Group Inc. Holding 5,400 107,981 148,838 0.10 %
296 Dexter Corporation 3,800 116,491 151,050 0.10 %
297 Dole Food Inc. 9,300 322,897 151,125 0.10 %
298 Georgia Gulf Corporation 5,200 125,645 158,275 0.10 %
299 Hawaiian Electric Ind. Inc. 5,400 204,530 155,925 0.10 %
300 Investment Technology 5,200 199,239 149,500 0.10 %
301 Kelly Services Inc. 6,000 186,579 150,750 0.10 %
302 Newport News Shipbuilding 5,500 125,980 151,250 0.10 %
303 Ohio Casualty Corporation 10,000 178,838 160,625 0.10 %
304 Olin Corporation 7,500 157,249 148,594 0.10 %
305 Olsten Corporation 13,550 228,169 153,284 0.10 %
306 Pioneer Natural Resources Co. 16,700 380,437 149,256 0.10 %
</TABLE>
D - 15
<PAGE>
DEFINED ASSET FUNDS - EQUITY INVESTOR FUND
INDEX SERIES, S&P MIDCAP TRUST
PORFOLIO
AS OF DECEMBER 31, 1999
<TABLE>
<CAPTION>
Percentage
Port- of Total
folio Market
No. Common Stocks Shares Cost (1) Value (1) Value
- --- ------------- ------ -------- -------- -----
<S> <C> <C> <C> <C> <C>
307 Pittston Brink's Group 6,800 $ 199,179 $ 149,600 0.10 %
308 Policy Management Systems Corp. 5,900 207,236 150,819 0.10 %
309 Tecumseh Product 3,300 174,288 155,719 0.10 %
310 Transaction Sys. Architects Inc. 5,400 212,988 151,200 0.10 %
311 Westpoint Stevens 8,900 286,638 155,750 0.10 %
312 Agco Corporation 9,900 218,580 133,031 0.09 %
313 Carter Wallace Inc. 7,500 157,763 134,531 0.09 %
314 Cirrus Logic Inc. 10,900 163,206 145,106 0.09 %
315 Horace Mann Educator 6,800 175,589 133,450 0.09 %
316 Jacobs Engr. Group Inc. 4,300 136,851 139,750 0.09 %
317 Kaydon Corporation 5,100 149,133 136,744 0.09 %
318 Mark IV Industries Inc. 7,805 143,847 138,051 0.09 %
319 Mentor Graphics Corporation 10,700 125,776 141,106 0.09 %
320 Minerals Technologies 3,500 148,137 140,219 0.09 %
321 Papa John's International 5,100 222,131 132,919 0.09 %
322 Pennzoil-Quaker State Co. 12,973 201,289 132,162 0.09 %
323 UCAR International 7,500 253,239 133,594 0.09 %
324 Arvin Industries Inc. 4,300 144,264 122,013 0.08 %
325 CLECO Corporation 3,800 112,009 121,838 0.08 %
326 Federal Signal Corporation 7,700 175,612 123,681 0.08 %
327 Ferro Corporation 5,875 130,415 129,250 0.08 %
328 Fuller (H.B.) Co. 2,300 109,675 128,656 0.08 %
329 GTech Holdings Corporation 5,800 170,399 127,600 0.08 %
330 Longview Fibre Co. 8,600 133,166 122,550 0.08 %
331 Modine Manufacturing Co. 4,900 144,533 122,500 0.08 %
332 NCO Group Inc. 4,200 202,925 126,525 0.08 %
333 Nordson Corporation 2,700 145,361 130,275 0.08 %
334 Ruddick Corporation 7,700 116,901 119,350 0.08 %
335 Steris Corporation 11,300 316,158 116,531 0.08 %
336 Superior Industries 4,400 124,200 117,975 0.08 %
337 Unifi, Inc. 9,850 251,610 121,278 0.08 %
338 Universal Corporation 5,200 163,936 118,625 0.08 %
339 Wallace Computer 7,000 170,038 116,375 0.08 %
340 Airgas Inc. 11,700 195,641 111,150 0.07 %
</TABLE>
D - 16
<PAGE>
DEFINED ASSET FUNDS - EQUITY INVESTOR FUND
INDEX SERIES, S&P MIDCAP TRUST
PORFOLIO
AS OF DECEMBER 31, 1999
<TABLE>
<CAPTION>
Percentage
Port- of Total
folio Market
No. Common Stocks Shares Cost (1) Value (1) Value
- --- ------------- ------ -------- -------- -----
<S> <C> <C> <C> <C> <C>
341 Ametek 5,400 $ 104,533 $ 102,938 0.07 %
342 Bob Evans Farms Inc. 6,600 132,498 101,888 0.07 %
343 Carpenter Technology 3,700 142,829 101,519 0.07 %
344 Covance Inc. 9,700 220,245 104,881 0.07 %
345 Flowserve Corporation 6,250 158,582 106,250 0.07 %
346 Glatfelter Ph & Company 7,000 112,459 101,938 0.07 %
347 Micro Warehouse, Inc. 6,000 186,620 111,000 0.07 %
348 Officemax Inc. 18,900 246,156 103,950 0.07 %
349 Pss World Medical Inc. 11,800 222,775 111,363 0.07 %
350 Precision Castparts Corporation 4,100 189,633 107,625 0.07 %
351 Public Service Co. 6,800 121,604 110,500 0.07 %
352 Quorem Health Group 11,800 236,968 109,888 0.07 %
353 Sylvan Learning System 8,500 230,819 110,500 0.07 %
354 Varco International 10,900 105,883 111,044 0.07 %
355 Warnaco Group, Inc. 9,300 265,145 114,506 0.07 %
356 Wausau-Mosinee Paper Corporation 8,588 160,237 100,372 0.07 %
357 Wellman, Inc. 5,700 108,695 106,163 0.07 %
358 Wisconsin Central Transport 8,500 206,594 114,219 0.07 %
359 Bandag Inc. 3,700 161,624 92,500 0.06 %
360 Banta Corporation 4,400 111,864 99,275 0.06 %
361 CBRL Group 9,750 247,858 94,605 0.06 %
362 Chesapeake Corp. 2,900 97,415 88,450 0.06 %
363 Hanna (M.A.) Co. 8,200 129,841 89,688 0.06 %
364 Indiana Energy Inc. 4,933 97,562 87,561 0.06 %
365 Ogden Corporation 8,200 180,470 97,888 0.06 %
366 Perrigo Co. 12,200 201,424 97,600 0.06 %
367 Sequa Corporation 1,700 90,971 91,694 0.06 %
368 JM Smucker Co. 4,800 117,228 93,600 0.06 %
369 Standard Register Co. 4,600 131,476 89,125 0.06 %
370 Stewart Enterprises, Inc. 18,100 357,504 85,975 0.06 %
371 Total Rental Care 13,500 368,319 90,281 0.06 %
372 Albany Intl. Corporation 5,113 96,960 79,256 0.05 %
373 Beverly Enterprises 17,100 175,593 74,813 0.05 %
374 Black Hills Inc. 3,600 75,050 79,875 0.05 %
</TABLE>
D - 17
<PAGE>
DEFINED ASSET FUNDS - EQUITY INVESTOR FUND
INDEX SERIES, S&P MIDCAP TRUST
PORFOLIO
AS OF DECEMBER 31, 1999
<TABLE>
<CAPTION>
Percentage
Port- of Total
folio Market
No. Common Stocks Shares Cost (1) Value (1) Value
- --- ------------- ------ -------- -------- -----
<S> <C> <C> <C> <C> <C>
375 Buffets Inc. 7,000 $ 81,624 $ 70,000 0.05 %
376 Comp-USA Inc. 15,500 335,938 79,438 0.05 %
377 Dreyers Grand Ice Cream Inc. 4,600 72,144 78,200 0.05 %
378 Granite Construction Inc. 4,550 89,853 83,891 0.05 %
379 Hunt JB Trans. Svcs. Inc. 5,900 130,063 81,678 0.05 %
380 Navigant Consulting 6,900 276,705 75,038 0.05 %
381 Overseas Shipholding Group Inc. 5,600 104,659 82,950 0.05 %
382 Rollins, Inc. 5,050 104,899 75,750 0.05 %
383 Ryerson Tull 4,100 96,724 79,694 0.05 %
384 Schulman A Inc. 5,150 108,444 84,009 0.05 %
385 Structural Dynamic 6,000 116,598 76,500 0.05 %
386 Acuson 4,500 77,214 56,531 0.04 %
387 Arnold Inds. 4,100 66,683 57,656 0.04 %
388 Cleveland Cliffs Inc. 1,800 75,430 56,025 0.04 %
389 Ethyl Corporation 13,900 114,949 54,731 0.04 %
390 Stewart & Stevenson 4,700 111,064 55,666 0.04 %
391 International Multifoods Corp. 3,100 75,497 41,075 0.03 %
392 Lance Inc. 5,000 98,190 50,000 0.03 %
393 Lone Star Steakhouse 5,500 118,042 49,070 0.03 %
394 Maxxam Inc. 1,200 58,484 51,450 0.03 %
395 NCH Corporation 900 55,077 40,106 0.03 %
396 Vlasic Food 7,600 159,368 43,225 0.03 %
397 Burlington Inds. Inc. 8,800 93,171 35,200 0.02 %
398 Heilg-Meyers Co. 9,975 134,787 27,431 0.02 %
399 Magnetek Inc. 4,000 58,783 30,750 0.02 %
400 Oregon Steel Mills Inc. 4,300 72,711 34,093 0.02 %
--------- ------------- ------------ ------
4,979,112 $136,373,127 $153,741,098 100 %
========= ============= ============ ======
</TABLE>
NOTE:
(1) See Notes to Financial Statements.
D - 18
<PAGE>
DEFINED ASSET FUNDS--REGISTERED TRADEMARK--
<TABLE>
<S> <C>
HAVE QUESTIONS ? EQUITY INVESTOR FUND
Request the most INDEX SERIES
recent free Information S&P 500 TRUST 2
Supplement that gives more S&P 500 MIDCAP TRUST
details about the Fund, (A Unit Investment Trust)
by calling: ---------------------------------------
The Chase Manhattan Bank This Prospectus does not contain
1-800-323-1508 complete information about the
The Bank of New York investment company filed with the
1-800-221-7771 Securities and Exchange Commission in
Washington, D.C. under the:
- Securities Act of 1933 (file no.
33-44844) and
- Investment Company Act of 1940 (file
no. 811-3044).
TO OBTAIN COPIES AT PRESCRIBED RATES--
WRITE: Public Reference Section of the
Commission
450 Fifth Street, N.W., Washington,
D.C. 20549-6009
CALL: 1-800-SEC-0330.
VISIT: http://www.sec.gov.
---------------------------------------
No person is authorized to give any
information or representations about
this Fund not contained in this
Prospectus or the Information
Supplement, and you should not rely on
any other information.
---------------------------------------
When units of this Fund are no longer
available, this Prospectus may be used
as a preliminary prospectus for a
future series, but some of the
information in this Prospectus will be
changed for that series.
UNITS OF ANY FUTURE SERIES MAY NOT BE
SOLD NOR MAY OFFERS TO BUY BE ACCEPTED
UNTIL THAT SERIES HAS BECOME EFFECTIVE
WITH THE SECURITIES AND EXCHANGE
COMMISSION. NO UNITS CAN BE SOLD IN ANY
STATE WHERE A SALE WOULD BE ILLEGAL.
14124--4/00
</TABLE>
DEFINED ASSET FUNDS--REGISTERED TRADEMARK--
------------------------------
----------------------
EQUITY INVESTOR FUND
INDEX SERIES
S&P 500 TRUST 2
S&P MIDCAP TRUST
(A UNIT INVESTMENT TRUST)
- MONTHLY INCOME
- DIVERSIFICATION
- REINVESTMENT OPTION
SPONSORS:
MERRILL LYNCH,
PIERCE, FENNER & SMITH
INCORPORATED -----------------------------------------------------
SALOMON SMITH BARNEY INC. The Securities and Exchange Commission has not
PRUDENTIAL SECURITIES approved or disapproved these Securities or passed
INCORPORATED upon the adequacy of this prospectus. Any
PAINEWEBBER INCORPORATED representation to the contrary is a criminal offense.
DEAN WITTER REYNOLDS INC. Prospectus dated April 28, 2000.
<PAGE>
- --------------------------------------------------------------------------------
Defined Asset Funds--Registered Trademark--
Defined Asset Funds-Registered Trademark- is America's oldest and largest family
of unit investment trusts, with over $160 billion sponsored over the last 28
years. Defined Asset Funds has been a leader in unit investment trust research
and product innovation. Our family of Funds helps investors work toward their
financial goals with a full range of quality investments, including municipal,
corporate and government bond portfolios, as well as domestic and international
equity portfolios.
Defined Asset Funds offer a number of advantages:
- A disciplined strategy of buying and holding with a long-term view is the
cornerstone of Defined Asset Funds.
- Fixed portfolio: Defined Funds follow a buy and hold investment strategy;
funds are not managed and portfolio changes are limited.
- Defined Portfolios: We choose the stocks or bonds in advance, so you know
what you're investing in.
- Professional research: Our dedicated research team seeks out stocks or bonds
appropriate for a particular fund's objectives.
- Ongoing supervision: We monitor each portfolio on an ongoing basis.
No matter what your investment goals, risk tolerance or time horizon, there's
probably a Defined Asset Fund that suits your investment style. Your financial
professional can help you select a Defined Asset Fund that works best for your
investment portfolio.
THE FINANCIAL INFORMATION ON THIS PROSPECTUS IS AS OF THE EVALUATION DATE,
DECEMBER 31, 1999.
<TABLE>
<S> <C>
CONTENTS
PAGE
---
S&P 500 Trust 2 Risk/Return Summary.. 3
S&P 500 MidCap Trust
Risk/Return Summary................ 5
What You Can Expect From Your
Investment......................... 7
Income............................. 7
Records and Reports................ 7
The Risks You Face................... 7
Litigation and Legislation Risks... 7
Selling Units........................ 7
Sponsors' Secondary Market......... 7
Selling Units to the Trustee....... 8
How The Fund Works................... 8
Pricing............................ 8
Evaluations........................ 8
Income............................. 8
Expenses........................... 9
Portfolio Changes.................. 9
Fund Termination................... 9
Certificates....................... 10
Trust Indenture.................... 10
Legal Opinion...................... 11
Auditors........................... 11
Sponsors........................... 11
Trustee............................ 11
Underwriters' and Sponsors'
Profits.......................... 11
Public Distribution................ 12
Code of Ethics..................... 12
Year 2000 Issues................... 12
Taxes................................ 12
Supplemental Information............. 13
Financial Statements................. D-1
</TABLE>
2
<PAGE>
- --------------------------------------------------------------------------------
S&P 500 TRUST 2 RISK/RETURN SUMMARY
<TABLE>
<C> <S>
1. WHAT IS THE PORTFOLIO'S OBJECTIVE?
- The objective of this Defined Fund is
designed to produce investment results
corresponding to the performance of the
Standard & Poor's 500 Stock Price
Composite Index.
2. WHAT IS THE FUND'S INVESTMENT STRATEGY?
- The Portfolio contains 500 common stocks
structured to mirror, as closely as
possible, the total return of the S&P 500
Index.
</TABLE>
<TABLE>
<S> <C>
-- With a single, convenient purchase, you
can participate in the total return
performance of an index broadly
representing the market. This
diversification reduces the risk of
selecting individual stocks or market
sectors.
</TABLE>
<TABLE>
<CAPTION>
- The Fund plans to hold the stocks in the
Portfolio for approximately 17 years. The
Fund will terminate by February 28, 2017.
<C> <S>
3. WHAT ARE THE SIGNIFICANT RISKS?
YOU CAN LOSE MONEY BY INVESTING IN THE
FUND. THIS CAN HAPPEN FOR VARIOUS
REASONS, INCLUDING:
- Stock prices can be volatile.
- Dividend rates on the stocks or share
prices may decline during the life of the
Fund.
- The Fund may continue to hold the stocks
originally selected even though their
market value or yield may have changed.
</TABLE>
<TABLE>
<C> <S>
4. IS THIS FUND APPROPRIATE FOR YOU?
Yes, if you want current monthly income.
You will benefit from a professionally
selected and supervised portfolio whose
risk is reduced by investing in equity
securities of many different issuers.
The Fund is NOT appropriate for you if
you are unwilling to take the risk
involved with an equity investment.
</TABLE>
<TABLE>
<C> <S>
5. WHAT ARE THE FUND'S FEES AND EXPENSES?
This table shows the costs and expenses
you may pay, directly or indirectly, when
you invest in the Fund.
</TABLE>
<TABLE>
$0.77
Trustee's Fee
$0.65
Portfolio Supervision,
Bookkeeping and
Administrative Fees
(including updating
expenses)
<CAPTION>
ESTIMATED ANNUAL OPERATING EXPENSES
AMOUNT
PER 1,000 UNITS
---------------
<C> <S> <C>
$1.03
Other Operating Expenses
-----
$2.45
TOTAL
</TABLE>
<TABLE>
<C> <S>
The Sponsors historically paid updating
expenses.
INVESTOR FEES
You will pay an up-front sales fee of
approximately 2.25%. The fee will be reduced
for quantity purchases, as follows:
</TABLE>
<TABLE>
<CAPTION>
YOUR MAXIMUM
SALES FEE
IF YOU INVEST: WILL BE:
-------------- ------------
<C> <S> <C>
Less than $25,000 2.25%
$25,000 to $49,999 2.00%
$50,000 to $74,999 1.75%
$75,000 to $99,999 1.50%
$100,000-$249,999 1.25%
$250,000-$999,999 1.00%
$1,000,000-$4,999,999 0.75%
$5,000,000-$14,999,999 0.50%
$15,000,000 or more 0.25%
</TABLE>
<TABLE>
<C> <S>
6. IS THE FUND MANAGED?
Unlike a mutual fund, the Fund is not
managed. However, stocks may be purchased
or sold to reflect changes in the Index.
The Sponsors monitor the portfolio and
may instruct the Trustee to sell
securities under certain limited
circumstances.
</TABLE>
3
<PAGE>
- --------------------------------------------------------------------------------
S&P 500 TRUST 2 RISK/RETURN SUMMARY (CONTINUED)
<TABLE>
<C> <S>
7. HOW DO I BUY UNITS?
The minimum investment is $250.
You can buy units from the Sponsors.
UNIT PRICE PER 1,000 UNITS $3,149.26
(as of December 31, 1999)
Unit price is based on the net asset
value of the Fund plus the up-front sales
fee.
The Portfolio stocks are valued by the
Trustee on the basis of their closing
prices at 4:00 p.m. Eastern time every
business day. Unit price changes every
day with changes in the prices of the
stocks.
8. HOW DO I SELL UNITS?
You may sell your units at any time to
the Sponsors or the Trustee for the net
asset value determined at the close of
business on the date of sale.
9. HOW ARE DISTRIBUTIONS MADE AND TAXED?
The Fund pays monthly distributions of
any dividend income, net of expenses, on
the 25th of each month, if you own units
on the 10th of that month. Distributions
of ordinary income will be dividends for
federal income tax purposes and may be
eligible for the dividends-received
deduction for corporations. Distributions
to foreign investors will generally be
subject to withholding taxes.
10. WHAT OTHER SERVICES ARE AVAILABLE?
REINVESTMENT
You may choose to reinvest your
distributions into additional units of
the Fund. Unless you choose reinvestment,
you will receive your income
distributions in cash.
EXCHANGE PRIVILEGES
You may exchange units of this Fund for
units of certain other Defined Asset
Funds. You may also exchange into this
Fund from certain other funds. We charge
a reduced sales fee on designated
exchanges.
</TABLE>
4
<PAGE>
- --------------------------------------------------------------------------------
S&P 500 MIDCAP TRUST RISK/RETURN SUMMARY
<TABLE>
<C> <S>
1. WHAT IS THE PORTFOLIO'S OBJECTIVE?
- The objective of this Defined Fund is
designed to produce investment results
corresponding to the performance of the
Standard & Poor's MidCap 400 Stock Price
Composite Index.
2. WHAT IS THE FUND'S INVESTMENT STRATEGY?
- The Portfolio contains 400 common stocks
structured to mirror, as closely as
possible, the total return of the S&P
MidCap 400 Index.
</TABLE>
<TABLE>
<S> <C>
-- With a single, convenient purchase, you
can participate in the total return
performance of an index broadly
representing the market. This
diversification reduces the risk of
selecting individual stocks or market
sectors.
</TABLE>
<TABLE>
<CAPTION>
- The Fund plans to hold the stocks in the
Portfolio for approximately 17 years. The
Fund will terminate by February 28, 2017.
<C> <S>
3. WHAT ARE THE SIGNIFICANT RISKS?
YOU CAN LOSE MONEY BY INVESTING IN THE
FUND. THIS CAN HAPPEN FOR VARIOUS
REASONS, INCLUDING:
- Stock prices can be volatile.
- Dividend rates on the stocks or share
prices may decline during the life of the
Fund.
- The Fund may continue to hold the stocks
originally selected even though their
market value or yield may have changed.
</TABLE>
<TABLE>
<C> <S>
4. IS THIS FUND APPROPRIATE FOR YOU?
Yes, if you want current monthly income.
You will benefit from a professionally
selected and supervised portfolio whose
risk is reduced by investing in equity
securities of many different issuers.
The Fund is NOT appropriate for you if
you are unwilling to take the risk
involved with an equity investment.
</TABLE>
<TABLE>
<C> <S>
5. WHAT ARE THE FUND'S FEES AND EXPENSES?
This table shows the costs and expenses
you may pay, directly or indirectly, when
you invest in the Fund.
</TABLE>
<TABLE>
$0.81
Trustee's Fee
$0.65
Portfolio Supervision,
Bookkeeping and
Administrative Fees
(including updating
expenses)
<CAPTION>
ESTIMATED ANNUAL OPERATING EXPENSES
AMOUNT
PER 1,000 UNITS
---------------
<C> <S> <C>
$0.82
Other Operating Expenses
-----
$2.28
TOTAL
</TABLE>
<TABLE>
<C> <S>
The Sponsors historically paid updating
expenses.
INVESTOR FEES
You will pay an up-front sales fee of
approximately 2.25%. The fee will be reduced
for quantity purchases, as follows:
</TABLE>
<TABLE>
<CAPTION>
YOUR MAXIMUM
SALES FEE
IF YOU INVEST: WILL BE:
-------------- ------------
<C> <S> <C>
Less than $25,000 2.25%
$25,000 to $49,999 2.00%
$50,000 to $74,999 1.75%
$75,000 to $99,999 1.50%
$100,000-$249,999 1.25%
$250,000-$999,999 1.00%
$1,000,000-$4,999,999 0.75%
$5,000,000-$14,999,999 0.50%
$15,000,000 or more 0.25%
</TABLE>
<TABLE>
<C> <S>
6. IS THE FUND MANAGED?
Unlike a mutual fund, the Fund is not
managed. However, stocks may be purchased
or sold to reflect changes in the Index.
The Sponsors monitor the portfolio and
may instruct the Trustee to sell
securities under certain limited
circumstances.
</TABLE>
<PAGE>
- --------------------------------------------------------------------------------
S&P MIDCAP TRUST RISK/RETURN SUMMARY (CONTINUED)
<TABLE>
<C> <S>
7. HOW DO I BUY UNITS?
The minimum investment is $250.
You can buy units from the Sponsors.
UNIT PRICE PER 1,000 UNITS $1,627.10
(as of December 31, 1999)
Unit price is based on the net asset
value of the Fund plus the up-front sales
fee.
The Portfolio stocks are valued by the
Trustee on the basis of their closing
prices at 4:00 p.m. Eastern time every
business day. Unit price changes every
day with changes in the prices of the
stocks.
8. HOW DO I SELL UNITS?
You may sell your units at any time to
the Sponsors or the Trustee for the net
asset value determined at the close of
business on the date of sale.
9. HOW ARE DISTRIBUTIONS MADE AND TAXED?
The Fund pays monthly distributions of
any dividend income, net of expenses, on
the 25th of each month, if you own units
on the 10th of that month. Distributions
of ordinary income will be dividends for
federal income tax purposes and may be
eligible for the dividends-received
deduction for corporations. Distributions
to foreign investors will generally be
subject to withholding taxes.
10. WHAT OTHER SERVICES ARE AVAILABLE?
REINVESTMENT
You may choose to reinvest your
distributions into additional units of
the Fund. Unless you choose reinvestment,
you will receive your income
distributions in cash.
EXCHANGE PRIVILEGES
You may exchange units of this Fund for
units of certain other Defined Asset
Funds. You may also exchange into this
Fund from certain other funds. We charge
a reduced sales fee on designated
exchanges.
</TABLE>
6
<PAGE>
WHAT YOU CAN EXPECT FROM YOUR INVESTMENT
INCOME
Because the Fund generally pays dividends as they are received, individual
income payments will fluctuate based upon the amount of dividends declared and
paid by each issuer. Other reasons your income may vary are:
- changes to the Portfolio because of sales of securities;
- changes in the Fund's expenses; and
- the amount of dividends declared and paid.
There can be no assurance that any dividends will be declared or paid.
RECORDS AND REPORTS
You will receive:
- - a notice from the Trustee if new equity securities are deposited in exchange
or substitution for equity securities originally deposited;
- - annual reports on Fund activity; and
- - annual tax information. THIS WILL ALSO BE SENT TO THE IRS. YOU MUST REPORT THE
AMOUNT OF INCOME RECEIVED DURING THE YEAR. PLEASE CONTACT YOUR TAX ADVISER IN
THIS REGARD.
You may inspect records of Portfolio transactions at the Trustee's office during
regular business hours.
THE RISKS YOU FACE
LITIGATION AND LEGISLATION RISKS
We do not know of any pending litigation that might have a material adverse
effect upon the Fund.
Future tax legislation could affect the value of the Fund by:
- reducing the dividends-received deduction or
- increasing the corporate tax rate resulting in less money available for
dividend payments.
SELLING UNITS
You can sell your units at any time for a price based on their net asset value.
Your net asset value is calculated each business day by:
- ADDING the value of the Portfolio securities, cash and any other Fund
assets;
- SUBTRACTING accrued but unpaid Fund expenses, unreimbursed Trustee advances,
cash held to buy back units or for distribution to investors, and any other
Fund liabilities; and
- DIVIDING the result by the number of outstanding units.
Your net asset value when you sell may be more or less than your cost because of
sales fees, market movements and changes in the Portfolio.
SPONSORS' SECONDARY MARKET
While we are not obligated to do so, we will buy back units at net asset value
less any remaining deferred sales fee and the cost of liquidating securities to
meet the redemption. We may resell the units to other buyers or to the Trustee.
We have maintained a secondary market continuously for more than 25 years, but
we could discontinue it without prior notice for any business reason.
7
<PAGE>
SELLING UNITS TO THE TRUSTEE
Regardless of whether we maintain a secondary market, you can sell your units to
the Trustee at any time by contacting your broker, dealer or financial
institution that holds your units in street name. Sometimes, additional
documents are needed such as a trust document, certificate of corporate
authority, certificate of death or appointment as executor, administrator or
guardian.
Within seven days after your request and the necessary documents are received,
the Trustee will mail a check to you. Contact the Trustee for additional
information.
As long as we are maintaining a secondary market, the Trustee will sell your
units to us at a price based on net asset value. If there is no secondary
market, the Trustee will sell your units in the over-the-counter market if it
believes it can obtain a higher price. In that case, you will receive the net
proceeds of the sale.
If the Fund does not have cash available to pay you for the units you are
selling we will select securities to be sold. These sales could be made at times
when the securities would not otherwise be sold and may result in your receiving
less than you paid for your unit and also reduce the size and diversity of the
Fund.
There could be a delay in paying you for your units:
- if the New York Stock Exchange is closed (other than customary weekend and
holiday closings);
- if the SEC determines that trading on the New York Stock Exchange is
restricted or that an emergency exists making sale or evaluation of the
securities not reasonably practicable; and
- for any other period permitted by SEC order.
HOW THE FUND WORKS
PRICING
Units are charged an initial sales fee.
EVALUATIONS
The Trustee values the securities on each business day (i.e., any day other than
Saturdays, Sundays and the following holidays as observed by the New York Stock
Exchange: New Year's Day, Martin Luther King, Jr. Day, Presidents' Day, Good
Friday, Memorial Day, Independence Day, Labor Day, Thanksgiving and Christmas).
If the securities are listed on a national securities exchange or the Nasdaq
National Market, evaluations are generally based on closing sales prices on that
exchange or that system or, if closing sales prices are not available, at the
mean between the closing bid and offer prices.
INCOME
- - The annual income per unit, after deducting estimated annual Fund expenses per
unit, will depend primarily upon the amount of dividends declared and paid by
the issuers of the securities and changes in the expenses of the Fund and, to
a lesser degree, upon the level of sales of securities. There is no assurance
that dividends on the securities will continue at their current levels or be
declared at all.
8
<PAGE>
- - Each unit receives an equal share of monthly distributions of dividend income
net of estimated expenses. Because dividends on the securities are not
received at a constant rate throughout the year, any distribution may be more
or less than the amount then credited to the Income Account. The Trustee
credits dividends received to an Income Account and other receipts to a
Capital Account. The Trustee may establish a reserve account by withdrawing
from the these accounts amounts it considers appropriate to pay any material
liability. These accounts do not bear interest.
- - Subject to the reinvestment plan, your monthly income distribution will be
substantially equal to 1/12 of your share of the estimated annual income, net
of estimated expenses.
EXPENSES
The Trustee is paid a fee monthly. It also benefits when it holds cash for the
Fund in non-interest bearing accounts. The Trustee may also receive additional
amounts:
- for extraordinary services and costs of indemnifying the Trustee and the
Sponsors;
- costs of actions taken to protect the Fund and other legal fees and
expenses;
- expenses for keeping the Fund's registration statement current; and
- Fund termination expenses and any governmental charges.
The Sponsors are currently reimbursed up to 70 CENTS per 1,000 units annually
for providing portfolio supervisory, bookkeeping and administrative services and
for any other expenses properly chargeable to the Fund. Legal, typesetting,
electronic filing and regulatory filing fees and expenses associated with
updating the Fund's registration statement yearly are now chargeable to the
Fund. While this fee may exceed the amount of these costs and expenses
attributable to this Fund, the total of these fees for all Series of Defined
Asset Funds will not exceed the aggregate amount attributable to all of these
Series for any calendar year. Certain of these expenses were previously paid for
by the Sponsors.
The Trustee's and Sponsors' fees may be adjusted for inflation without
investors' approval.
The Sponsors will pay advertising and selling expenses at no charge to the Fund.
If Fund expenses exceed initial estimates, the Fund will owe the excess. The
Trustee has a lien on Fund assets to secure reimbursement of Fund expenses and
may sell securities if cash is not available.
PORTFOLIO CHANGES
If we maintain a secondary market in units but are unable to sell the units that
we buy in the secondary market, we will redeem units, which may affect the
composition of the portfolio.
We decide whether to offer units for sale that we acquire in the secondary
market after reviewing:
- diversity of the Portfolio;
- size of the Fund relative to its original size;
- ratio of Fund expenses to income; and
- cost of maintaining a current prospectus.
FUND TERMINATION
When the Fund is about to terminate you will receive a notice, and you will be
unable
9
<PAGE>
to sell your units after that time. Unless you choose to receive an in-kind
distribution of securities, we will sell any remaining securities, and you will
receive your final distribution in cash.
You will pay your share of the expenses associated with termination, including
brokerage costs in selling securities. This may reduce the amount you receive as
your final distribution.
CERTIFICATES
Certificates for units are issued on request. You may transfer certificates by
complying with the requirements for redeeming certificates, described above. You
can replace lost or mutilated certificates by deliverying satisfactory indemnity
and paying the associated costs.
TRUST INDENTURE
The Fund is a "unit investment trust" governed by a Trust Indenture, a contract
among the Sponsors and the Trustee, which sets forth their duties and
obligations and your rights. A copy of the Indenture is available to you on
request to the Trustee. The following summarizes certain provisions of the
Indenture.
The Sponsors and the Trustee may amend the Indenture without your consent:
- to cure ambiguities;
- to correct or supplement any defective or inconsistent provision;
- to make any amendment required by any governmental agency; or
- to make other changes determined not to be materially adverse to your best
interest (as determined by the Sponsors).
Investors holding 51% of the units may amend the Indenture. Every investor must
consent to any amendment that changes the 51% requirement. No amendment may
reduce your interest in the Fund without your written consent.
The Trustee may resign by notifying the Sponsors. The Sponsors may remove the
Trustee without your consent if:
- it fails to perform its duties and the Sponsors determine that its
replacement is in your best interest; or
- it becomes incapable of acting or bankrupt or its affairs are taken over by
public authorities.
Investors holding 51% of the units may remove the Trustee. The Trustee may
resign or be removed by the Sponsors without the consent of investors. The
resignation or removal of the Trustee becomes effective when a successor accepts
appointment. The Sponsors will try to appoint a successor promptly; however, if
no successor has accepted within 30 days after notice of resignation, the
resigning Trustee may petition a court to appoint a successor.
Any Sponsor may resign as long as one Sponsor with a net worth of $2 million
remains and agrees to the resignation. The remaining Sponsors and the Trustee
may appoint a replacement. If there is only one Sponsor and it fails to perform
its duties or becomes bankrupt the Trustee may:
- remove it and appoint a replacement Sponsor;
- liquidate the Fund; or
10
<PAGE>
- continue to act as Trustee without a Sponsor.
Merrill Lynch, Pierce, Fenner & Smith Incorporated acts as agent for the
Sponsors.
The Trust Indenture contains customary provisions limiting the liability of the
Trustee and the Sponsors.
LEGAL OPINION
Davis Polk & Wardwell, 450 Lexington Avenue, New York, New York 10017, as
special counsel for the Sponsor, has given an opinion that the units are validly
issued.
AUDITORS
Deloitte & Touche LLP, 2 World Financial Center, New York, New York 10281,
independent accountants, audited the Statement of Condition included in this
prospectus.
SPONSORS:
MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED (a wholly-owned subsidiary of
Merrill Lynch & Co., Inc.)
P.O. Box 9051,
Princeton, NJ 08543-9051
SALOMON SMITH BARNEY INC. (an indirectly wholly-owned subsidiary of Citigroup
Inc.)
388 Greenwich Street--23rd Floor,
New York, NY 10013
PRUDENTIAL SECURITIES INCORPORATED (an
indirect wholly-owned subsidiary of the
Prudential Insurance Company of America)
One New York Plaza
New York, NY 10292
DEAN WITTER REYNOLDS INC. (a principal operating subsidiary of Morgan Stanley
Dean Witter & Co.)
Two World Trade Center--59th Floor,
New York, NY 10048
PAINEWEBBER INCORPORATED (a wholly-owned subsidiary of PaineWebber Group Inc.)
1285 Avenue of the Americas,
New York, NY 10019
Each Sponsor is a Delaware corporation and it, or its predecessor, has acted as
sponsor to many unit investment trusts. As a registered broker-dealer each
Sponsor buys and sells securities (including investment company shares) for
others (including investment companies) and participates as an underwriter in
various selling groups.
TRUSTEE
The Trustee for the S&P500 Trust 2 is The Chase Manhattan Bank, Unit Investment
Trust Department, 4 New York Plaza--6th Floor, New York, New York 10268. The
Trustee for the S&P MidCap Trust is The Bank of New York, 101 Barclay
Street--17W, New York, New York 10268. Each Trustee is supervised by the Federal
Deposit Insurance Corporation, the Board of Governors of the Federal Reserve
System and New York State banking authorities.
UNDERWRITERS' AND SPONSORS' PROFITS
Underwriters receive sales charges when they sell units. Any cash made available
by you to the Sponsors before the settlement date for your units may be used in
the Sponsors' businesses to the extent permitted by federal law and may benefit
the Sponsors.
11
<PAGE>
In maintaining a secondary market, the Sponsors will also realize profits or
sustain losses in the amount of any difference between the prices at which they
buy units and the prices at which they resell or redeem them.
PUBLIC DISTRIBUTION
The Sponsors do not intend to qualify units for sale in any foreign countries.
This prospectus does not constitute an offer to sell units in any country where
units cannot lawfully be sold.
CODE OF ETHICS
The Fund and the Agent for the Sponsors have each adopted a code of ethics
requiring reporting of personal securities transactions by its employees with
access to information on Fund transactions. Subject to certain conditions, the
codes permit employees to invest in Fund securities for their own accounts. The
codes are designed to prevent fraud, deception and misconduct against the Fund
and to provide reasonable standards of conduct. These codes are on file with the
Commission and you may obtain a copy by contacting the Commission at the address
listed on the back cover of this prospectus.
YEAR 2000 ISSUES
Many computer systems were designed in such a way that they may be unable to
distinguish between the year 2000 and the year 1900 (commonly known as the "Year
2000 Problem"). To date we are not aware of any major operational difficulties
resulting from the computer system changes necessary to prepare for the Year
2000. However, there can be no assurance that the Year 2000 Problem will not
adversely affect the issuers of the bonds contained in a Portfolio. We cannot
predict whether any impact will be material to the Fund as a whole.
TAXES
The following summarizes some of the important income tax consequences of
holding Units. It assumes that you are not a dealer, financial institution,
insurance company or other investor with special circumstances or subject to
special rules. You should consult your own tax adviser about your particular
circumstances.
GENERAL TREATMENT OF THE FUND AND YOUR INVESTMENT
The Fund intends to quality for special tax treatment as a regulated investment
company so that it will not be subject to federal income tax on the portion of
its taxable income that it distributes to investors in a timely manner.
DISTRIBUTIONS
Distributions to you of the Fund's dividend income and of the Fund's gains from
Securities it has held for one year or less will generally be taxed to you as
ordinary income, to the extent of the Fund's taxable income not attributable to
the Fund's net capital gain. Distributions to you in excess of the Fund's
taxable income will be treated as a return of capital and will reduce your basis
in your Units. To the extent such distributions exceed your basis, they will be
treated as gain from the sale of your Units.
12
<PAGE>
Distributions to you that are treated as ordinary income will constitute
dividends for federal income tax purposes. Corporate investors may be eligible
for the 70% dividends-received deduction with respect to these distributions.
You should consult your tax adviser.
Distributions to you of the Fund's net capital gain will generally be taxable to
you as long-term capital gain, regardless of how long you have held your Units.
GAIN OR LOSS UPON DISPOSITION
You will generally recognize capital gain or loss when you dispose of your
Units. If you receive Securities upon redemption of your Units, you will
generally recognize capital gain or loss equal to the difference between your
basis in your Units and the fair market value of the Securities received in
redemption.
If your net long-term capital gains exceed your net short-term capital losses,
the excess may be subject to tax at a lower rate than ordinary income. Any
capital gain or loss will generally be long-term if you have held your
investment which produces the gain or loss for more than one year and short-term
otherwise. Because the deductibility of capital losses is subject to
limitations, you may not be able to deduct all of your capital losses. You
should consult your tax adviser in this regard.
YOUR BASIS IN THE SECURITIES
Your aggregate basis in the Units will generally be equal to the cost of your
Units, including the initial sales charge. You should not increase your basis in
your Units by deferred sales charges or organizational expenses.
FOREIGN INVESTORS
If you are a foreign investor and you are not engaged in a U.S. trade or
business, you will generally be subject to 30% withholding tax (or a lower
applicable treaty rate) on your share of dividends received by the Portfolio.
You should consult your tax adviser about the possible application of federal,
state and local, and foreign taxes.
SUPPLEMENTAL INFORMATION
You can receive at no cost supplemental information about the Fund by calling
the Trustee. The supplemental information includes more detailed risk disclosure
and general information about the structure and operation of the Fund. The
supplemental information is also available from the SEC.
13
<PAGE>
EIF INDEX SERIES S&P 500 TRUST 2
FUNDS - EQUITY INVESTOR FUND INDEX SERIES, S&P 500 TRUST - 2
REPORT OF INDEPENDENT ACCOUNTANTS
The Sponsors, Trustee and Holders of Defined Asset Funds - Equity Investor Fund
Index Series, S&P 500 Trust - 2:
We have audited the accompanying statement of condition of Defined Asset Funds -
Equity Investor Fund Index Series, S&P 500 Trust - 2, including the portfolio,
as of December 31, 1999 and the related statements of operations and of changes
in net assets for the years ended December 31, 1999, 1998 and 1997. These
financial statements are the responsibility of the Trustee. Our responsibility
is to express an opinion on these financial statements based on our audits.
We conducted our audits in accordance with auditing standards generally accepted
in the United States of America. Those standards require that we plan and
perform the audit to obtain reasonable assurance about whether the financial
statements are free of material misstatement. An audit includes examining, on a
test basis, evidence supporting the amounts and disclosures in the financial
statements. Securities owned at December 31, 1999, as shown in such portfolio,
were confirmed to us by The Chase Manhattan Bank, the Trustee. An audit also
includes assessing the accounting principles used and significant estimates made
by the Trustee, as well as evaluating the overall financial statement
presentation. We believe that our audits provide a reasonable basis for our
opinion.
In our opinion, the financial statements referred to above present fairly, in
all material respects, the financial position of Defined Asset Funds - Equity
Investor Fund Index Series, S&P 500 Trust - 2 at December 31, 1999 and the
results of its operations and changes in its net assets for the above-stated
years in accordance with accounting principles generally accepted in the United
States of America.
DELOITTE & TOUCHE LLP
New York, N.Y.
April 7, 2000
D - 1
<PAGE>
DEFINED ASSET FUNDS - EQUITY INVESTOR FUND INDEX SERIES,
S&P 500 TRUST - 2
STATEMENT OF CONDITION
AS OF DECEMBER 31, 1999
<TABLE>
<S> <C>
TRUST PROPERTY:
Investment in marketable securities - at value
(cost $317,770,615) (Note 1)...................................... $594,043,214
Dividends receivable................................................ 533,156
Receivable for securities sold or redeemed.......................... 50,926
Receivable for unit creations....................................... 13,274,260
------------
Total trust property...................................... 607,901,556
LESS LIABILITIES:
Advance from Trustee..................................$ 18,597,970
Payable for securities purchased...................... 868,985 19,466,955
------------- ------------
NET ASSETS, REPRESENTED BY:
191,148,076 units of fractional
undivided interest outstanding (Note 3)............. 588,088,725
Undistributed net investment income................... 345,876 $588,434,601
------------ ============
UNIT VALUE ($588,434,601 / 191,148,076 units)......................... $3.07842
========
</TABLE>
See Notes to Financial Statements.
D - 2
<PAGE>
DEFINED ASSET FUNDS - EQUITY INVESTOR FUND INDEX SERIES,
S&P 500 TRUST - 2
STATEMENTS OF OPERATIONS
<TABLE>
<CAPTION>
Years Ended December 31,
1999 1998 1997
<S> <C> <C> <C>
INVESTMENT INCOME:
Dividend income................................... $ 6,800,919 $ 6,206,686 $ 5,437,111
Trustee's fees and expenses....................... (322,245) (283,672) (263,578)
Sponsors' fees.................................... (95,316) (65,594) (38,939)
------------ ----------- -----------
Net investment income............................. 6,383,358 5,857,420 5,134,594
------------ ----------- -----------
REALIZED AND UNREALIZED GAIN ON
INVESTMENTS:
Realized gain on securities sold or
redeemed........................................ 22,791,541 29,054,094 8,835,928
Unrealized appreciation of investments............ 72,334,928 67,393,815 71,135,157
------------ ----------- -----------
Net realized and unrealized gain on
investments..................................... 95,126,469 96,447,909 79,971,085
------------ ----------- -----------
NET INCREASE IN NET ASSETS RESULTING FROM
OPERATIONS........................................ $101,509,827 $102,305,329 $85,105,679
============ ============ ===========
</TABLE>
See Notes to Financial Statements.
D - 3
<PAGE>
DEFINED ASSET FUNDS - EQUITY INVESTOR FUND INDEX SERIES,
S&P 500 TRUST - 2
STATEMENTS OF CHANGES IN NET ASSETS
<TABLE>
<CAPTION>
Years Ended December 31,
1999 1998 1997
<S> <C> <C> <C>
OPERATIONS:
Net investment income......................... $ 6,383,358 $ 5,857,420 $ 5,134,594
Realized gain on securities sold or
redeemed.................................... 22,791,541 29,054,094 8,835,928
Unrealized appreciation of investments........ 72,334,928 67,393,815 71,135,157
------------ ------------ ------------
Net increase in net assets resulting from
operations.................................. 101,509,827 102,305,329 85,105,679
------------ ------------ ------------
DISTRIBUTIONS TO HOLDERS (Note 2):
Income........................................ (6,459,760) (5,794,392) (5,052,051)
Principal..................................... (23,000,107) (23,521,054) (8,451,033)
------------ ------------ ------------
Total distributions........................... (29,459,867) (29,315,446) (13,503,084)
------------ ------------ ------------
CAPITAL SHARE TRANSACTIONS (Note 4):
Issuances of 21,334,738, 27,246,670 and
24,145,777 units, respectively.............. 61,737,160 68,522,390 47,828,865
Redemptions of 5,094,384, 10,048,419 and
2,668,129 units, respectively............... (14,743,642) (23,380,945) (5,411,755)
------------ ------------ ------------
NET CAPITAL SHARE TRANSACTIONS.................. 46,993,518 45,141,445 42,417,110
------------ ------------ ------------
NET INCREASE IN NET ASSETS...................... 119,043,478 118,131,328 114,019,705
NET ASSETS AT BEGINNING OF YEAR................. 469,391,123 351,259,795 237,240,090
------------ ------------ ------------
NET ASSETS AT END OF YEAR....................... $588,434,601 $469,391,123 $351,259,795
============ ============ ============
PER UNIT:
Income distributions during year $0.03518 $0.03429 $0.03335
======== ======== ========
Principal distributions during year $0.12306 $0.13853 $0.05397
======== ======== ========
Net asset value at end of year $3.07842 $2.68365 $2.22726
======== ======== ========
TRUST UNITS OUTSTANDING AT END OF YEAR 191,148,076 174,907,722 157,709,471
=========== =========== ===========
</TABLE>
See Notes to Financial Statements.
D - 4
<PAGE>
DEFINED ASSET FUNDS - EQUITY INVESTOR FUND INDEX SERIES,
S&P 500 TRUST - 2
NOTES TO FINANCIAL STATEMENTS
1. SIGNIFICANT ACCOUNTING POLICIES
The Fund is registered under the Investment Company Act of 1940 as a Unit
Investment Trust. The following is a summary of significant accounting
policies consistently followed by the Fund in the preparation of its
financial statements. The policies are in conformity with generally
accepted accounting principles.
(a) Securities are stated at market value based on the closing sale price
on the exchange on which it is listed. Realized gains or losses on
sales of securities are determined using the first-in, first-out cost
method.
(b) The Fund is not subject to income taxes. Accordingly, no provision
for such taxes is required.
(c) Dividend income is recorded on the ex-dividend date.
2. DISTRIBUTIONS
A distribution of net investment income is made to Holders on the
twenty-fifth day of each month. Receipts other than dividends, after
deductions for redemptions and applicable expenses, are also distributed
periodically.
3. NET CAPITAL
Cost of 191,148,076 units at Dates of Deposit............. $328,145,373
Less sales charge......................................... 7,383,928
------------
Net amount applicable to Holders.......................... 320,761,445
Redemptions of units - net cost of 22,023,241 units
redeemed less redemption amounts........................ (17,275,192)
Realized gain on securities sold or redeemed.............. 65,587,177
Principal distributions................................... (57,257,304)
Net unrealized appreciation of investments................ 276,272,599
------------
Net capital applicable to Holders......................... $588,088,725
============
4. REDEMPTIONS
Holders may request redemptions of units by presentation thereof to the
Trustee, The Chase Manhattan Bank.
5. INCOME TAXES
As of December 31, 1999 net unrealized appreciation of investments, based
on cost for Federal income tax purposes, aggregated $276,272,599 of which
$292,605,125 related to appreciated securities and $16,332,526 related to
depreciated securities. The aggregate cost of investment securities for
Federal income tax purposes was $317,770,615 at December 31, 1999.
D - 5
<PAGE>
DEFINED ASSET FUNDS - EQUITY INVESTOR FUND INDEX SERIES,
S & P 500 TRUST - 2
PORTFOLIO
AS OF DECEMBER 31, 1999
<TABLE>
<CAPTION>
Percentage
of Total
Portfolio Market
No. Common Stocks Shares Cost (1) Value (1) Value
<S> <C> <C> <C> <C>
1 Microsoft Corp. 248,900 $ 6,431,219 $ 29,059,075 4.8917%
2 General Electric Company 158,300 7,393,034 24,496,925 4.1238%
3 Cisco Systems, Inc. 157,800 2,848,243 16,904,325 2.8456%
4 Wal-Mart Stores, Inc. 214,700 3,714,258 14,841,138 2.4983%
5 Exxon Mobil Corp. 166,601 7,431,115 13,421,793 2.2594%
6 Intel Corp. 161,200 3,961,741 13,268,775 2.2336%
7 Lucent Technologies Inc. 151,130 3,458,388 11,306,413 1.9033%
8 International Business 87,000 3,112,272 9,396,000 1.5817%
9 Citigroup Inc. 162,611 3,459,425 9,035,074 1.5209%
10 America Online, Inc. 107,800 4,519,589 8,132,163 1.3690%
11 American International 74,650 3,076,479 8,071,531 1.3587%
12 SBC Communications, Inc. 164,567 4,528,873 8,022,641 1.3505%
13 A T&T Corp 154,118 4,539,895 7,821,489 1.3167%
14 Oracle Corporation 68,718 1,063,073 7,700,711 1.2963%
15 Home Depot Inc. 111,000 2,011,006 7,610,438 1.2811%
16 Merck & Co., Inc. 112,800 4,078,092 7,564,650 1.2734%
17 MCI Worldcom Inc 136,923 3,181,791 7,265,477 1.2231%
18 Proctor & Gamble Co. 63,400 3,113,217 6,946,263 1.1693%
19 Coca-Cola Company 119,200 5,076,849 6,943,400 1.1688%
20 Nortel Networks Corp. 64,440 1,320,754 6,508,440 1.0956%
21 Dell Computer Corp. 122,600 986,223 6,252,600 1.0525%
22 Royal Dutch Petroleum Co 103,400 3,817,790 6,249,238 1.0520%
23 Johnson & Johnson 67,100 3,228,101 6,248,688 1.0519%
24 Bristol-Myers Squibb Co. 95,700 2,636,626 6,142,744 1.0341%
25 Pfizer, Inc. 186,800 2,800,734 6,059,325 1.0200%
26 Sun Microsystems, Inc. 75,400 678,447 5,838,788 0.9829%
27 Qualcomm 32,000 1,429,894 5,636,000 0.9488%
28 Hewlett-Packard Co. 49,200 2,231,016 5,605,725 0.9437%
29 Yahoo 12,700 4,371,800 5,495,131 0.9250%
30 EMC Corp/Mass 49,100 629,326 5,364,175 0.9030%
31 Bell Atlantic Corp. 74,888 2,564,377 4,610,293 0.7761%
32 Time Warner, Inc. 62,100 1,914,985 4,498,369 0.7572%
33 Motorola, Inc. 29,400 1,727,376 4,329,150 0.7288%
34 Bellsouth Corp. 90,800 1,949,565 4,250,575 0.7155%
35 Bank Of America Corp. 82,326 3,294,037 4,131,736 0.6955%
36 Morgan Stanley Dean Witter 26,882 1,270,287 3,837,406 0.6460%
37 Texas Instruments, Inc. 38,700 834,083 3,749,063 0.6311%
38 American Express Company 21,600 1,194,247 3,591,000 0.6045%
39 Lilly (Eli) & Co. 52,600 1,815,606 3,497,900 0.5888%
40 Warner-Lambert Co. 41,400 1,175,497 3,392,213 0.5710%
41 Du Pont (E.I.) De Nemours 50,350 2,309,488 3,316,806 0.5583%
42 GTE Corp. 46,900 2,066,482 3,309,381 0.5571%
</TABLE>
D - 6
<PAGE>
DEFINED ASSET FUNDS - EQUITY INVESTOR FUND INDEX SERIES,
S & P 500 TRUST - 2
PORTFOLIO
AS OF DECEMBER 31, 1999
<TABLE>
<CAPTION>
Percentage
of Total
Portfolio Market
No. Common Stocks Shares Cost (1) Value (1) Value
<S> <C> <C> <C> <C>
43 Wells Fargo & Co. 79,200 $ 2,077,664 $ 3,202,650 0.5391%
44 Tyco International, Ltd. 81,444 1,718,671 3,166,136 0.5330%
45 Ford Motor Company 58,300 1,566,358 3,115,406 0.5244%
46 Chase Manhattan (New) 39,820 1,567,637 3,093,516 0.5208%
47 Federal National Mortgage 49,500 1,751,280 3,090,656 0.5203%
48 Schering-Plough 70,900 1,338,202 2,991,094 0.5035%
49 Amgen, Inc. 49,300 678,819 2,961,081 0.4985%
50 The Walt Disney Co. 99,500 2,287,550 2,910,375 0.4899%
51 Sprint Corp. Fon Group 42,000 981,656 2,827,125 0.4759%
52 Chevron Corp. 31,700 1,863,425 2,746,013 0.4623%
53 Abbott Laboratories 74,200 1,792,585 2,694,388 0.4536%
54 Philip Morris Companies, 114,100 3,493,117 2,645,694 0.4454%
55 McDonald's Corp. 65,300 1,471,949 2,632,406 0.4431%
56 American Home Products 63,000 1,858,398 2,484,563 0.4182%
57 Pepsico, Inc. 70,200 1,893,688 2,474,550 0.4166%
58 CBS Corp 36,754 850,179 2,349,959 0.3956%
59 Applied Materials Inc. 18,300 492,367 2,318,381 0.3903%
60 Mediaone Group Inc 29,500 700,078 2,265,969 0.3814%
61 General Motors Corp. 30,900 1,462,829 2,246,044 0.3781%
62 Compaq Computer Corp. 81,998 1,500,735 2,219,071 0.3736%
63 Honeywell International Inc. 38,237 1,126,896 2,205,797 0.3713%
64 Gillette Company 51,700 1,769,031 2,129,394 0.3585%
65 Sprint Corp.(PCS Group) 20,750 343,939 2,126,875 0.3580%
66 Medtronic, Inc. 57,700 1,191,692 2,102,444 0.3539%
67 Viacom, Inc. Class B 33,600 774,294 2,030,700 0.3418%
68 GAP, Inc. 41,287 472,202 1,899,202 0.3197%
69 Minnesota Mining & Manuf 19,400 1,319,988 1,898,775 0.3196%
70 Boeing Co. 45,113 1,715,528 1,874,968 0.3156%
71 Comcast Corp. Special 36,300 482,225 1,835,419 0.3090%
72 Global Crossing Ltd 36,620 744,393 1,831,000 0.3082%
73 Colgate-Palmolive Co. 28,100 699,590 1,826,500 0.3075%
74 Computer Associates Int'l 25,962 754,229 1,815,717 0.3057%
75 Nextel Comm. 17,500 731,463 1,804,688 0.3038%
76 Banc One Corp. 55,272 2,047,131 1,772,159 0.2983%
77 US West Inc 24,422 850,175 1,758,384 0.2960%
78 Kimberly-Clark Corp. 26,220 994,115 1,710,855 0.2880%
79 Automatic Data Processing 30,200 672,988 1,627,025 0.2739%
80 Anheuser-Busch 22,400 830,334 1,587,600 0.2673%
81 Federal Home Loan Mortgage 33,500 886,964 1,576,594 0.2654%
82 Dayton-Hudson Corp. 21,300 476,395 1,564,219 0.2633%
83 First Union Corp. 47,614 2,253,442 1,562,334 0.2630%
84 Fleet Boston Financial Corp 44,155 1,209,059 1,537,146 0.2588%
</TABLE>
D - 7
<PAGE>
DEFINED ASSET FUNDS - EQUITY INVESTOR FUND INDEX SERIES,
S & P 500 TRUST - 2
PORTFOLIO
AS OF DECEMBER 31, 1999
<TABLE>
<CAPTION>
Percentage
of Total
Portfolio Market
No. Common Stocks Shares Cost (1) Value (1) Value
<S> <C> <C> <C> <C>
85 Enron Corp. 34,500 $ 765,887 $ 1,530,938 0.2577%
86 Corning Inc. 11,800 410,852 1,521,463 0.2561%
87 Charles Schwab Corp 39,600 491,896 1,519,650 0.2558%
88 Electronic Data Systems 22,700 941,396 1,519,481 0.2558%
89 United Technologies Corp 23,100 752,156 1,501,500 0.2528%
90 Unilever N.V. 27,557 1,260,548 1,500,134 0.2525%
91 Merrill Lynch & Co. 17,900 808,384 1,494,650 0.2516%
92 Schlumberger, Ltd. 26,500 1,034,668 1,490,625 0.2509%
93 Alcoa Inc. 17,700 538,472 1,469,100 0.2473%
94 Clear Channel Comm. 16,300 781,718 1,454,775 0.2449%
95 Texaco, Inc. 26,700 1,173,720 1,450,144 0.2441%
96 Carnival Corp. 29,800 1,292,697 1,424,813 0.2399%
97 Bank Of New York Co. Inc 35,500 584,220 1,420,000 0.2390%
98 Dow Chemical 10,600 810,145 1,416,425 0.2384%
99 Walgreen Co. 48,400 503,980 1,415,700 0.2383%
100 Atlantic Richfield 15,600 974,015 1,349,400 0.2272%
101 Solectron Corp 14,100 712,476 1,341,263 0.2258%
102 Alltel Corp 15,100 662,281 1,248,581 0.2102%
103 Tellabs Inc. 19,400 420,043 1,245,238 0.2096%
104 Marsh & Mclennan Companies 12,900 528,747 1,234,369 0.2078%
105 Emerson Electric Co. 21,000 916,748 1,204,875 0.2028%
106 Pharmacia & Upjohn, Inc. 25,050 955,281 1,127,250 0.1898%
107 International Paper Co. 19,949 782,776 1,125,872 0.1895%
108 Gateway Inc 15,300 459,504 1,102,556 0.1856%
109 Gannett Co. 13,500 523,493 1,101,094 0.1854%
110 Lowe's Companies, Inc. 18,400 434,219 1,099,400 0.1851%
111 Fifth Third Bancorp 14,925 613,844 1,095,122 0.1844%
112 Monsanto Co. 30,600 870,515 1,090,125 0.1835%
113 J.P. Morgan & Co. 8,400 763,895 1,063,650 0.1791%
114 Suntrust Banks, Inc. 15,400 823,565 1,059,713 0.1784%
115 MBNA Corporation 38,632 436,630 1,052,722 0.1772%
116 Micron Technology, Inc. 13,000 567,434 1,010,750 0.1701%
117 Eastman Kodak Co. 15,200 993,284 1,007,000 0.1695%
118 Firstar Corporation 47,200 1,329,906 997,100 0.1678%
119 First Data Corp. 20,200 713,074 996,113 0.1677%
120 Illinois Tool Works, Inc 14,500 621,828 979,656 0.1649%
121 Costco Wholesale Corp. 10,704 336,261 976,740 0.1644%
122 Sara Lee Corp. 43,800 780,446 966,338 0.1627%
123 Associates First Cap Corp. 35,058 925,590 961,904 0.1619%
124 Seagram Company, Ltd. 20,900 748,206 939,194 0.1581%
125 BMC Software, Inc. 11,700 662,725 935,269 0.1574%
126 Allstate Corp 38,768 963,369 930,432 0.1566%
</TABLE>
D - 8
<PAGE>
DEFINED ASSET FUNDS - EQUITY INVESTOR FUND INDEX SERIES,
S & P 500 TRUST - 2
PORTFOLIO
AS OF DECEMBER 31, 1999
<TABLE>
<CAPTION>
Percentage
of Total
Portfolio Market
No. Common Stocks Shares Cost (1) Value (1) Value
<S> <C> <C> <C> <C>
127 Cendant Corporation 34,248 $ 870,178 $ 909,713 0.1531%
128 American General Corp. 11,900 548,264 902,913 0.1520%
129 Duke Energy 17,600 853,460 882,200 0.1485%
130 Baxter International, In 14,000 539,759 879,375 0.1480%
131 Safeway Inc 24,500 1,187,817 871,281 0.1467%
132 Omnicom Group 8,600 388,972 860,000 0.1448%
133 Halliburton Co. 21,300 597,648 857,325 0.1443%
134 Household International, 22,679 571,888 844,793 0.1422%
135 U.S. Bancorp 35,100 999,023 835,819 0.1407%
136 Mellon Financial Corp. 24,500 419,733 834,531 0.1405%
137 Weyerhaeuser Co. 11,300 556,942 811,481 0.1366%
138 Caterpillar Inc. 17,200 599,312 809,475 0.1363%
139 Apple Computer Inc. 7,800 293,770 801,938 0.1350%
140 Campbell Soup Co. 20,600 673,204 796,963 0.1342%
141 Columbia HCA Healthcare 27,138 832,956 795,483 0.1339%
142 Analog Devices 8,400 487,069 781,200 0.1315%
143 3Com Corp. 16,600 752,216 780,200 0.1313%
144 Interpublic Group Cos 13,500 274,325 778,781 0.1311%
145 Southern Company 32,400 744,932 761,400 0.1282%
146 Computer Sciences Corp. 8,000 319,984 757,000 0.1274%
147 Kroger Company 40,100 662,877 756,888 0.1274%
148 CVS Corp. 18,900 495,035 754,819 0.1271%
149 Conoco Inc Cl B 30,200 808,876 751,225 0.1265%
150 AES Corporation 10,000 394,357 747,500 0.1258%
151 Xerox Corp. 32,000 876,240 726,000 0.1222%
152 Cigna Corp. 9,000 409,835 725,063 0.1221%
153 Washington Mutual, Inc. 27,798 1,066,901 722,748 0.1217%
154 General Instrument Corp 8,400 183,624 714,000 0.1202%
155 Bestfoods 13,500 490,633 709,594 0.1195%
156 National City Corp. 29,700 852,751 703,519 0.1184%
157 Xilinx Inc Com. 15,400 686,213 700,219 0.1179%
158 Guidant Corp. 14,800 312,527 695,600 0.1171%
159 Heinz (H.J.) Co. 17,250 623,603 686,766 0.1156%
160 Nike, Inc. Class B 13,500 510,085 669,094 0.1126%
161 Wachovia Corp. 9,800 560,057 666,400 0.1122%
162 Albertson's, Inc. 20,442 670,977 659,255 0.1110%
163 Cardinal Health, Inc 13,500 754,064 646,313 0.1088%
164 Computerware, Corp. 17,300 670,850 644,425 0.1085%
165 Novell, Inc. 16,100 262,541 642,994 0.1082%
166 Williams Companies, Inc. 21,000 474,873 641,813 0.1080%
167 Tribune Company 11,500 232,504 633,219 0.1066%
168 PNC Bank Corp. 14,200 514,565 631,900 0.1064%
</TABLE>
D - 9
<PAGE>
DEFINED ASSET FUNDS - EQUITY INVESTOR FUND INDEX SERIES,
S & P 500 TRUST - 2
PORTFOLIO
AS OF DECEMBER 31, 1999
<TABLE>
<CAPTION>
Percentage
of Total
Portfolio Market
No. Common Stocks Shares Cost (1) Value (1) Value
<S> <C> <C> <C> <C>
169 Sysco Corp. 15,900 $ 260,556 $ 629,044 0.1059%
170 Providian Financial Corp 6,900 188,854 628,331 0.1058%
171 Pitney-Bowes, Inc. 12,800 387,989 618,400 0.1041%
172 Aflac 12,800 650,780 604,000 0.1017%
173 PE Corp - Biosystems Group 5,000 160,010 601,563 0.1013%
174 Kellogg Co. 19,500 673,042 600,844 0.1011%
175 Network Appliance 7,200 192,113 598,050 0.1007%
176 FDX Corporation 14,380 350,270 588,681 0.0991%
177 McGraw-Hill Companies Inc. 9,500 269,437 585,438 0.0986%
178 Clorox Co. 11,400 331,545 574,275 0.0967%
179 Phillips Petroleum Co. 12,200 462,056 573,400 0.0965%
180 Kohls Corporattion 7,900 448,772 570,281 0.0960%
181 Northern Trust Corp 10,700 381,606 567,100 0.0955%
182 State Street Corp. 7,700 434,158 562,581 0.0947%
183 Lexmark Intl Group Cl A 6,200 420,647 561,100 0.0945%
184 Sears, Roebuck & Co. 18,200 721,601 553,963 0.0933%
185 Textron, Inc. 7,200 345,219 552,150 0.0929%
186 Teradyne Inc 8,300 401,920 547,800 0.0922%
187 Masco Corp. 21,500 460,572 545,563 0.0918%
188 Conagra Inc. 23,700 507,020 534,731 0.0900%
189 Burlington Northern Santa Fe 22,000 618,318 533,500 0.0898%
190 Citrix Systems Inc 4,300 423,400 528,900 0.0890%
191 PPG Industries, Inc. 8,400 405,489 525,525 0.0885%
192 Union Pacific Corp. 12,000 575,788 523,500 0.0881%
193 ADC Telecommunications 7,200 321,531 522,450 0.0879%
194 General Mills, Inc. 14,600 454,392 521,950 0.0879%
195 May Department Stores Co 16,100 486,040 519,225 0.0874%
196 Waste Management, Inc. 29,810 1,439,132 512,359 0.0862%
197 General Dynamics Corp. 9,700 451,371 511,675 0.0861%
198 Federated Dept. Stores 10,100 339,549 510,681 0.0860%
199 Hartford Financial Service 10,700 351,237 506,913 0.0853%
200 Best Buys 9,900 650,794 496,856 0.0836%
201 Aon Corp 12,375 359,857 495,000 0.0833%
202 Comverse Technology 3,400 373,531 492,150 0.0828%
203 Lehman Brothers Holdings 5,800 336,807 491,188 0.0827%
204 Deere & Co. 11,300 402,098 490,138 0.0825%
205 LSI Logic Corp 7,200 237,652 486,000 0.0818%
206 Kla-Tencor Corporation 4,300 277,625 478,913 0.0806%
207 Chubb Corp. 8,500 434,885 478,656 0.0806%
208 Paychex, Inc. 11,900 403,925 476,000 0.0801%
209 Unisys Corp. 14,900 298,278 475,869 0.0801%
210 AMR Corp. 7,100 338,209 475,700 0.0801%
</TABLE>
D - 10
<PAGE>
DEFINED ASSET FUNDS - EQUITY INVESTOR FUND INDEX SERIES,
S & P 500 TRUST - 2
PORTFOLIO
AS OF DECEMBER 31, 1999
<TABLE>
<CAPTION>
Percentage
of Total
Portfolio Market
No. Common Stocks Shares Cost (1) Value (1) Value
<S> <C> <C> <C> <C>
211 Keycorp 21,500 $ 465,126 $ 475,688 0.0801%
212 Texas Utilities Company 13,300 529,686 472,981 0.0796%
213 Seagate Technology Inc. 10,100 328,513 470,281 0.0792%
214 Wrigley (WM.) Jr Co. 5,600 352,959 464,450 0.0782%
215 Staples Inc 22,350 434,352 463,763 0.0781%
216 Capital One Financial Co 9,500 394,969 457,781 0.0771%
217 Tandy Corp. 9,300 147,542 457,444 0.0770%
218 Limited, Inc. 10,400 210,243 450,450 0.0758%
219 Dover Corp. 9,800 212,266 444,675 0.0749%
220 Circuit City Group 9,800 164,230 441,613 0.0743%
221 Rockwell International 9,200 345,025 440,450 0.0741%
222 Boston Scientific Corp. 20,000 469,047 437,500 0.0736%
223 Edison International Com 16,700 332,113 437,331 0.0736%
224 Alcan Aluminum, Ltd. 10,600 305,043 436,588 0.0735%
225 United Healthcare Corp. 8,200 431,102 435,625 0.0733%
226 BB&T Corp. 15,900 515,858 435,263 0.0733%
227 Ralston-Ralston Purina 15,600 341,130 434,850 0.0732%
228 Union Carbide Corp. 6,500 265,146 433,875 0.0730%
229 Raytheon Co.-Cl.B 16,300 763,022 432,969 0.0729%
230 Ingersoll-Rand Company 7,850 261,153 432,241 0.0728%
231 Molex Inc. 7,600 385,356 430,825 0.0725%
232 Rohm & Haas Co. 10,575 304,311 430,270 0.0724%
233 Delphi Automotive Systems 27,195 399,594 428,321 0.0721%
234 El Paso Energy Corporation 11,000 433,741 426,938 0.0719%
235 Quaker Oats Company 6,500 262,469 426,563 0.0718%
236 Georgia-Pacific Corp. 8,300 239,067 421,225 0.0709%
237 Lockheed Martin Corp. 19,090 672,560 417,594 0.0703%
238 Coca-Cola Enterprises 20,500 609,188 412,563 0.0694%
239 New York Times Company 8,300 163,692 407,738 0.0686%
240 IMS Health, Inc. 14,800 243,165 402,375 0.0677%
241 Aetna Inc. 7,200 514,979 401,850 0.0676%
242 Kansas City Southern Ind. 5,350 303,250 399,244 0.0672%
243 Southwest Airlines 24,337 224,060 393,955 0.0663%
244 Newell Rubbermaid Inc. 13,575 435,017 393,675 0.0663%
245 Avery Dennison Corp. 5,400 195,676 393,525 0.0662%
246 Unocal Corp. 11,700 372,563 392,681 0.0661%
247 Adobe Systems, Inc. 5,800 135,913 390,050 0.0657%
248 Franklin Resources Inc 12,100 620,574 387,956 0.0653%
249 Praxair, Inc. 7,700 258,483 387,406 0.0652%
250 Avon Products, Inc. 11,700 271,357 386,100 0.0650%
251 Occidental Petroleum Corp. 17,700 406,180 382,763 0.0644%
252 PG&E Corporation 18,500 503,955 379,250 0.0638%
</TABLE>
D - 11
<PAGE>
DEFINED ASSET FUNDS - EQUITY INVESTOR FUND INDEX SERIES,
S & P 500 TRUST - 2
PORTFOLIO
AS OF DECEMBER 31, 1999
<TABLE>
<CAPTION>
Percentage
of Total
Portfolio Market
No. Common Stocks Shares Cost (1) Value (1) Value
<S> <C> <C> <C> <C>
253 Marriott Int'l Class A 12,000 $ 377,693 $ 378,750 0.0638%
254 Lincoln National Corp. 9,400 261,299 376,000 0.0633%
255 Norfolk Southern Corp. 18,300 480,532 375,150 0.0632%
256 St. Paul Companies, Inc. 11,000 362,298 370,563 0.0624%
257 USX-Marathon Group. Inc. 15,000 343,261 370,313 0.0623%
258 Unum Corp 11,518 464,692 369,296 0.0622%
259 Air Products & Chemicals 11,000 332,504 369,188 0.0621%
260 Consolidated Edison Inc 10,700 361,750 369,150 0.0621%
261 FPL Group, Inc. 8,600 384,174 368,188 0.0620%
262 Republic New York 5,100 216,908 367,200 0.0618%
263 Public Service Enterpris 10,500 318,494 365,531 0.0615%
264 Coastal Corp. 10,300 222,398 365,006 0.0614%
265 Amsouth Bancorp 18,800 529,632 363,075 0.0611%
266 Dominion Resources Inc. 9,200 366,502 361,100 0.0608%
267 Archer-Daniels-Midland 29,328 436,782 357,435 0.0602%
268 National Semiconductor 8,300 176,390 355,344 0.0598%
269 Tenet Healthcare Corp. 15,000 344,161 352,500 0.0593%
270 Comerica Inc 7,550 281,011 352,491 0.0593%
271 Parametric Technology Co 13,000 282,655 351,813 0.0592%
272 Unicom Corporation 10,500 300,057 351,750 0.0592%
273 Burlington Resources, Inc. 10,500 447,143 347,156 0.0584%
274 Jefferson-Pilot Corp. 5,012 204,943 342,069 0.0576%
275 Barrick Gold Corp. 19,000 473,113 336,063 0.0566%
276 Baker Hughes, Inc. 15,890 366,371 334,683 0.0563%
277 Danaher Corp 6,900 323,424 332,925 0.0560%
278 CSX Corp. 10,500 461,375 329,438 0.0555%
279 SLM Holding Corp 7,700 372,708 325,325 0.0548%
280 Reliant Energy, Inc. 14,200 338,823 324,825 0.0547%
281 Becton Dickinson & Co. 12,100 236,937 323,675 0.0545%
282 Delta Airlines, Inc. 6,400 302,693 318,800 0.0537%
283 Hershey Foods Corp. 6,700 257,616 318,250 0.0536%
284 CENTURYTEL Inc. 6,700 307,013 317,413 0.0534%
285 Allergan Inc. 6,300 132,151 313,425 0.0528%
286 Peco Energy Co. 9,000 254,646 312,750 0.0526%
287 Loews Corp 5,100 403,243 309,506 0.0521%
288 MGIC Investment Group 5,100 199,051 306,956 0.0517%
289 TRW, Inc. 5,900 247,841 306,431 0.0516%
290 Entergy Corp. 11,900 343,120 306,425 0.0516%
291 Southtrust Corp 8,100 320,406 306,281 0.0516%
292 McKesson HBOC Inc. 13,540 959,387 305,496 0.0514%
293 TJX Companies, Inc. 14,900 161,718 304,519 0.0513%
294 American Electric Power 9,300 361,267 298,763 0.0503%
</TABLE>
D - 12
<PAGE>
DEFINED ASSET FUNDS - EQUITY INVESTOR FUND INDEX SERIES,
S & P 500 TRUST - 2
PORTFOLIO
AS OF DECEMBER 31, 1999
<TABLE>
<CAPTION>
Percentage
of Total
Portfolio Market
No. Common Stocks Shares Cost (1) Value (1) Value
<S> <C> <C> <C> <C>
295 Consolidated Natural Gas 4,600 $ 224,103 $ 298,713 0.0503%
296 Dow Jones & Co. 4,300 166,482 292,400 0.0492%
297 Dollar General 12,781 358,359 290,768 0.0489%
298 Tricon Global Restaurant 7,380 171,920 285,053 0.0480%
299 Champion International 4,600 205,639 284,913 0.0480%
300 Fort James Corporation 10,400 401,232 284,700 0.0479%
301 Conseco Inc 15,732 581,879 281,210 0.0473%
302 Parker-Hannifin Corp. 5,450 146,026 279,653 0.0471%
303 Synovus Financial Corp. 13,500 294,978 268,313 0.0452%
304 Union Planters Corp 6,800 335,107 268,175 0.0451%
305 Paine Webber Group 6,900 294,741 267,806 0.0451%
306 Mattel, Inc. 20,297 513,803 266,398 0.0448%
307 Phelps Dodge Corp. 3,940 258,968 264,473 0.0445%
308 Huntington Bancshares 11,075 313,421 264,416 0.0445%
309 Regions Financial Corp 10,500 405,519 263,813 0.0444%
310 Eaton Corp. 3,600 237,389 261,450 0.0440%
311 Golden West Financial Co 7,800 177,693 261,300 0.0440%
312 Fortune Brands, Inc. 7,900 222,527 261,194 0.0440%
313 Kerr-Mcgee Corp. 4,200 185,826 260,400 0.0438%
314 Summit Bancorp 8,400 402,285 257,250 0.0433%
315 Progressive Corp. 3,500 389,811 255,938 0.0431%
316 Firstenergy Corp. 11,200 281,202 254,100 0.0428%
317 MBIA 4,800 270,219 253,500 0.0427%
318 Peoplesoft Inc 11,800 371,122 251,488 0.0423%
319 Willamette Industries 5,400 180,694 250,763 0.0422%
320 Amerada Hess Corp 4,400 232,631 249,700 0.0420%
321 Penney (J.C.) Co., Inc. 12,500 615,468 249,219 0.0420%
322 Columbia Energy Group 3,900 134,330 246,675 0.0415%
323 Cincinnati Financial 7,900 344,471 246,381 0.0415%
324 Bear Stearns Co, Inc 5,753 291,839 245,941 0.0414%
325 Adaptec Inc 4,900 181,000 244,388 0.0411%
326 Knight Ridder 4,100 162,665 243,950 0.0411%
327 Ecolab Inc. 6,200 103,517 242,575 0.0408%
328 Kmart Corp. 23,800 340,195 239,488 0.0403%
329 Dana Corp. 7,972 346,288 238,662 0.0402%
330 Reynolds Metals Co. 3,100 190,410 237,538 0.0400%
331 Carolina Power & Light 7,700 265,082 234,369 0.0395%
332 Whirlpool Corp. 3,600 195,564 234,225 0.0394%
333 Johnson Controls, Inc. 4,100 163,159 233,188 0.0393%
334 Bed Bath & Beyond 6,700 233,806 232,825 0.0392%
335 Nucor Corp. 4,200 218,091 230,213 0.0388%
336 Dun & Bradstreet Corp. 7,700 172,026 227,150 0.0382%
</TABLE>
D - 13
<PAGE>
DEFINED ASSET FUNDS - EQUITY INVESTOR FUND INDEX SERIES,
S & P 500 TRUST - 2
PORTFOLIO
AS OF DECEMBER 31, 1999
<TABLE>
<CAPTION>
Percentage
of Total
Portfolio Market
No. Common Stocks Shares Cost (1) Value (1) Value
<S> <C> <C> <C> <C>
337 Cabletron Systems 8,700 $ 238,283 $ 226,200 0.0381%
338 Autozone 7,000 190,817 226,188 0.0381%
339 DTE Holdings Inc. Com 7,000 231,998 219,625 0.0370%
340 Black & Decker Corp. 4,200 162,077 219,450 0.0369%
341 Mead Corporation 5,000 143,702 217,188 0.0366%
342 Inco, Ltd. 9,200 248,958 216,200 0.0364%
343 Ameren Co. 6,600 262,293 216,150 0.0364%
344 Biomet, Inc. 5,400 99,536 216,000 0.0364%
345 Grainger (W.W.), Inc. 4,500 171,434 215,156 0.0362%
346 T Rowe Price 5,800 182,906 214,238 0.0361%
347 Genuine Parts Company 8,525 240,709 211,527 0.0356%
348 Goodyear Tire & Rubber C 7,500 361,064 211,406 0.0356%
349 Scientific-Atlanta, Inc. 3,800 87,459 211,375 0.0356%
350 Constellation Energy Group 7,200 194,012 208,800 0.0351%
351 Sealed Air Corp 4,029 254,849 208,753 0.0351%
352 Anadarko Petroleum Corp 6,100 203,995 208,163 0.0350%
353 UST, Inc. 8,200 252,887 206,538 0.0348%
354 Block H&R, Inc. 4,700 183,384 205,625 0.0346%
355 Advanced Micro Devices, 7,100 170,789 205,456 0.0346%
356 Wellpoint Health 3,100 271,543 204,406 0.0344%
357 Central & South West Cor 10,200 272,496 204,000 0.0343%
358 Leggett & Platt 9,500 208,951 203,656 0.0343%
359 Apache Corp 5,500 189,909 203,156 0.0342%
360 Old Kent Financial Corp. 5,700 230,767 201,638 0.0339%
361 Sempra Energy 11,565 269,883 200,942 0.0338%
362 Florida Progress Electric Co. 4,700 198,845 198,869 0.0335%
363 Newmont Mining Corp. 8,047 308,389 197,152 0.0332%
364 Maytag Corp. 4,100 100,547 196,800 0.0331%
365 Times Mirror Co. Cl. A 2,900 133,670 194,300 0.0327%
366 Int'l Flavors & Fragrances 5,100 228,560 192,525 0.0324%
367 Vulcan Materials Co. 4,800 228,772 191,700 0.0323%
368 Bausch & Lomb, Inc. 2,800 126,144 191,625 0.0323%
369 Brown-Forman Corp. Class 3,300 139,993 188,925 0.0318%
370 Tosco Corp. 6,900 183,371 187,594 0.0316%
371 Cinergy Corp. 7,627 220,020 184,001 0.0310%
372 Northrop Grumman Corp. 3,400 271,029 183,813 0.0309%
373 Torchmark Corp. 6,300 145,023 183,094 0.0308%
374 Eastman Chemical Company 3,825 222,128 182,405 0.0307%
375 Cooper Industries, Inc. 4,500 202,231 181,969 0.0306%
376 Owens-Illinois Inc. 7,200 261,452 180,450 0.0304%
377 Temple-Inland, Inc. 2,700 140,185 178,031 0.0300%
378 Hasbro Inc. 9,312 156,585 177,510 0.0299%
</TABLE>
D - 14
<PAGE>
DEFINED ASSET FUNDS - EQUITY INVESTOR FUND INDEX SERIES,
S & P 500 TRUST - 2
PORTFOLIO
AS OF DECEMBER 31, 1999
<TABLE>
<CAPTION>
Percentage
of Total
Portfolio Market
No. Common Stocks Shares Cost (1) Value (1) Value
<S> <C> <C> <C> <C>
379 GPU, Inc. 5,900 $ 198,841 $ 176,631 0.0297%
380 Nordstrom, Inc. 6,700 158,927 175,456 0.0295%
381 CMS Enery Group 5,600 246,320 174,650 0.0294%
382 Office Depot 15,900 354,369 173,906 0.0293%
383 Trans. Sedco Forex Inc. 5,130 121,492 172,830 0.0291%
384 Winn-Dixie Stores, Inc. 7,200 245,067 172,350 0.0290%
385 Hilton Hotels Corp. 17,800 220,901 171,325 0.0288%
386 VF Corp. 5,700 180,804 171,000 0.0288%
387 New Century Energies 5,600 269,105 170,100 0.0286%
388 Fluor Corporation 3,700 202,979 169,738 0.0286%
389 Alza Corp Company 4,900 164,333 169,663 0.0286%
390 Toys R Us, Inc.(Holding) 11,800 337,828 168,888 0.0284%
391 Placer Dome, Inc. 15,700 278,702 168,770 0.0284%
392 Sherwin-Williams Co. 8,000 167,717 168,000 0.0283%
393 Paccar, Inc. 3,780 122,843 167,501 0.0282%
394 Freeport Mcmoran Copper 7,900 211,637 166,888 0.0281%
395 Nabisco Group Holdings 15,700 264,668 166,813 0.0281%
396 Watson Pharmaceuticals 4,600 198,510 164,738 0.0277%
397 Harrah's Entertainment 6,200 144,562 163,913 0.0276%
398 Equifax, Inc. 6,800 223,029 160,225 0.0270%
399 Westvaco Corp. 4,850 136,102 158,231 0.0266%
400 P P & L Resources Inc 6,900 168,110 157,838 0.0266%
401 Safeco Corp. 6,300 239,669 156,713 0.0264%
402 Union Pacific Resources 12,138 298,547 154,750 0.0261%
403 Donnelley (R.R.) & Sons 6,100 217,349 151,356 0.0255%
404 Ceridian Corp. 7,000 152,314 150,938 0.0254%
405 Sigma-Aldrich 4,900 120,358 147,306 0.0248%
406 Northern States Power Co 7,500 181,060 146,250 0.0246%
407 Navistar International 3,080 56,948 145,915 0.0246%
408 Goodrich (B.F.) Co. 5,300 199,497 145,750 0.0245%
409 Mirage Resorts Inc. 9,300 227,246 142,406 0.0240%
410 Hercules, Inc. 5,100 216,868 142,163 0.0239%
411 USX-U.S. Steel Group, Inc. 4,300 141,784 141,900 0.0239%
412 I T T Industries 4,200 111,873 140,438 0.0236%
413 Rite Aid Corp. 12,500 266,221 139,844 0.0235%
414 Harcourt General, Inc. 3,400 127,095 136,850 0.0230%
415 Countrywide Credit Inds 5,400 192,737 136,350 0.0230%
416 Supervalu, Inc. 6,700 119,069 134,000 0.0226%
417 Bard (C.R), Inc. 2,500 79,694 132,490 0.0223%
418 Crown Cork & Seal Inc. 5,900 263,270 132,013 0.0222%
419 Stanley Works 4,300 116,604 129,538 0.0218%
420 Pall Corp. 5,933 133,495 127,920 0.0215%
</TABLE>
D - 15
<PAGE>
DEFINED ASSET FUNDS - EQUITY INVESTOR FUND INDEX SERIES,
S & P 500 TRUST - 2
PORTFOLIO
AS OF DECEMBER 31, 1999
<TABLE>
<CAPTION>
Percentage
of Total
Portfolio Market
No. Common Stocks Shares Cost (1) Value (1) Value
<S> <C> <C> <C> <C>
421 St. Jude Medical, Inc. 4,100 $ 135,886 $ 125,819 0.0212%
422 Niagara Mohawk Power Corp. 9,000 127,284 125,438 0.0211%
423 Pinnacle West Capital 4,100 153,279 125,306 0.0211%
424 Wendy's International 5,800 116,728 119,625 0.0201%
425 Ashland, Inc. 3,500 140,488 115,281 0.0194%
426 Engelhard Corp. 6,100 129,167 115,138 0.0194%
427 Darden Restaurants Inc 6,300 51,359 114,188 0.0192%
428 Thermo Electron Corp. 7,600 272,034 114,000 0.0192%
429 Boise Cascade Corp. 2,800 94,546 113,400 0.0191%
430 US Airways Group Nc 3,400 152,970 109,013 0.0184%
431 Great Lakes Chemical Corp. 2,800 151,748 106,915 0.0180%
432 Liz Claiborne, Inc. 2,800 90,182 105,350 0.0177%
433 Mallinckrodt Group Inc. 3,300 117,680 104,981 0.0177%
434 Dillards, Inc. 5,200 180,139 104,975 0.0177%
435 Meredith Corporation 2,500 51,750 104,219 0.0175%
436 Quintiles Trans Corp 5,500 121,188 102,781 0.0173%
437 Allegheny Technologies Inc. 4,513 173,829 101,260 0.0170%
438 Sunoco Inc. 4,300 139,528 101,050 0.0170%
439 Healthsouth Corp 18,600 409,309 99,975 0.0168%
440 Brunswick Corp. 4,400 98,731 97,900 0.0165%
441 Autodesk, Inc. 2,900 103,781 97,875 0.0165%
442 Homestake Mining 12,500 167,813 97,656 0.0164%
443 Cummins Engine Co., Inc. 2,000 87,831 96,625 0.0163%
444 Deluxe Corp. 3,500 120,042 96,031 0.0162%
445 Coors (Adolph) Class B 1,800 49,743 94,500 0.0159%
446 Perkinelmer Inc 2,200 48,458 91,713 0.0154%
447 Service Corp International 13,100 311,301 90,881 0.0153%
448 Tektronix, Inc. 2,300 71,179 89,413 0.0151%
449 Thomas & Betts Corp. 2,800 115,216 89,240 0.0150%
450 Pactiv Corporation 8,300 207,028 88,188 0.0148%
451 Silicon Graphics, Inc. 8,900 241,808 87,331 0.0147%
452 Bemis, Inc. 2,500 79,011 87,188 0.0147%
453 Rowan Companies, Inc. 4,000 54,638 86,750 0.0146%
454 Consolidated Stores Corp 5,300 216,982 86,125 0.0145%
455 FMC Corp. 1,500 101,973 85,969 0.0145%
456 Millipore Corp. 2,200 68,132 84,975 0.0143%
457 Allied Waste Industries 9,100 163,322 80,194 0.0135%
458 HCR Manor Care Inc. 4,950 131,595 79,200 0.0133%
459 Ryder System, Inc. 3,100 85,524 75,756 0.0128%
460 Snap-On, Inc. 2,850 92,921 75,703 0.0127%
461 Nicor, Inc. 2,300 69,299 74,750 0.0126%
462 Eastern Enterprises 1,300 46,330 74,669 0.0126%
</TABLE>
D - 16
<PAGE>
DEFINED ASSET FUNDS - EQUITY INVESTOR FUND INDEX SERIES,
S & P 500 TRUST - 2
PORTFOLIO
AS OF DECEMBER 31, 1999
<TABLE>
<CAPTION>
Percentage
of Total
Portfolio Market
No. Common Stocks Shares Cost (1) Value (1) Value
<S> <C> <C> <C> <C>
463 Andrew Corp. 3,930 $ 99,718 $ 74,424 0.0125%
464 American Greetings 3,100 93,418 73,238 0.0123%
465 Louisiana-Pacific Corp. 5,100 134,872 72,675 0.0122%
466 Centex Corp. 2,900 65,621 71,594 0.0121%
467 Worthington Industries 4,250 81,444 70,391 0.0118%
468 Alberto-Culver Co. Class 2,700 47,833 69,694 0.0117%
469 Humana Inc. 8,100 205,061 66,319 0.0112%
470 Shared Medical Systems 1,300 59,691 66,219 0.0111%
471 Armstrong World Ind., Inc. 1,900 118,343 63,413 0.0107%
472 Crane Co. 3,175 55,558 63,103 0.0106%
473 Potlatch Corp. 1,400 60,087 62,475 0.0105%
474 The Timken Company 3,000 63,884 61,313 0.0103%
475 Ball Corp. 1,500 45,847 59,063 0.0099%
476 National Svc Industries 2,000 62,586 59,000 0.0099%
477 Briggs & Stratton Corp. 1,100 44,079 58,988 0.0099%
478 Cooper Tire & Rubber 3,700 96,661 57,581 0.0097%
479 Peoples Energy Corp. 1,700 54,441 56,950 0.0096%
480 Kaufman & Broad Home Corp. 2,300 43,759 55,631 0.0094%
481 Bethlehem Steel Corp. 6,300 91,142 52,763 0.0089%
482 Owens Corning Com. 2,600 102,397 50,213 0.0085%
483 Great Atlantic & Pacific 1,800 49,005 50,175 0.0084%
484 Ikon Office Solutions, Inc. 7,200 210,429 49,050 0.0083%
485 Longs Drug Stores, Inc. 1,900 42,048 49,044 0.0083%
486 Tupperware Corporation 2,800 121,709 47,425 0.0080%
487 Pulte Corp. 2,100 35,989 47,251 0.0080%
488 W.R. Grace & Co. 3,400 31,897 47,176 0.0079%
489 Polaroid Corp. 2,100 79,841 39,507 0.0067%
490 Jostens, Inc. 1,600 35,666 38,901 0.0065%
491 Oneok, Inc. 1,500 41,313 37,688 0.0063%
492 Springs Industries, Inc. 900 39,514 35,944 0.0061%
493 Fleetwood Enterprises 1,600 46,430 33,000 0.0056%
494 Milacron Inc. 1,800 43,653 27,675 0.0047%
495 Russell Corp. 1,600 46,468 26,800 0.0045%
496 McDermott International 2,900 72,476 26,281 0.0044%
497 Pep Boys-Manny,Moe & Jack 2,500 68,194 22,813 0.0038%
498 Nacco Industries, Inc. 400 22,470 22,225 0.0037%
499 Reebok International, Ltd 2,700 89,554 22,106 0.0037%
500 Foster Wheeler Corp. 2,000 69,263 17,750 0.0030%
-------------- ------------- -------------- ------------
TOTALS 10,426,684 $ 317,770,615 $ 594,043,214 100.0000%
============== ============= ============== ============
</TABLE>
(1) See Notes to Financial Statements.
D - 17
<PAGE>
DEFINED ASSET FUNDS - EQUITY INVESTOR FUND
INDEX SERIES, S&P MIDCAP TRUST
REPORT OF INDEPENDENT ACCOUNTANTS
The Sponsors, Trustee and Holders of Defined Asset Funds - Equity Investor Fund
Index Series, S&P Midcap Trust:
We have audited the accompanying statement of condition of Defined Asset Funds
- Equity Investor Fund Index Series, S&P Midcap Trust, including the portfolio,
as of December 31, 1999 and the related statements of operations and of changes
in net assets for the years ended December 31, 1999, 1998 and 1997. These
financial statements are the responsibility of the Trustee. Our responsibility
is to express an opinion on these financial statements based on our audits.
We conducted our audits in accordance with generally accepted auditing
standards. Those standards require that we plan and perform the audit to obtain
reasonable assurance about whether the financial statements are free of
material misstatement. An audit includes examining, on a test basis, evidence
supporting the amounts and disclosures in the financial statements. Securities
owned at December 31, 1999, as shown in such portfolio, were confirmed to us by
The Bank of New York, the Trustee. An audit also includes assessing the
accounting principles used and significant estimates made by the Trustee, as
well as evaluating the overall financial statement presentation. We believe
that our audits provide a reasonable basis for our opinion.
In our opinion, the financial statements referred to above present fairly, in
all material respects, the financial position of Defined Asset Funds - Equity
Investor Fund Index Series, S&P Midcap Trust at December 31, 1999 and the
results of its operations and changes in its net assets for the above-stated
years in conformity with generally accepted accounting principles.
DELOITTE & TOUCHE LLP
New York, N.Y.
March 28, 2000
D - 1
<PAGE>
DEFINED ASSET FUNDS - EQUITY INVESTOR FUND
INDEX SERIES, S&P MIDCAP TRUST
STATEMENT OF CONDITION
AS OF DECEMBER 31, 1999
<TABLE>
<S> <C> <C>
TRUST PROPERTY:
Investment in marketable securities - at value
(cost $136,373,127) (Note 1).................. $153,741,098
Dividends receivable............................ 95,623
Receivable from securties sold.................. 799,192
---------------
Total trust property.................. 154,635,913
LESS LIABILITIES:
Advance from trustee............................. $ 3,929,927
Accrued expenses................................. 79,358
Payable for securties purchased.................. 357,620 4,366,905
------------ --------------
NET ASSETS, REPRESENTED BY:
94,479,164 units of fractional undivided
interest outstanding (Note 3)................. 150,210,689
Undistributed net investment income............. 58,319
------------
$150,269,008
==============
UNIT VALUE ($150,269,008/94,479,164 units)........ $1.59050
==============
</TABLE>
See Notes to Financial Statements.
D - 2
<PAGE>
DEFINED ASSET FUNDS - EQUITY INVESTOR FUND
INDEX SERIES, S&P MIDCAP TRUST
STATEMENTS OF OPERATIONS
<TABLE>
<CAPTION>
.........Years Ended December 31,.........
1999 1998 1997
------------------------------------------
<S> <C> <C> <C>
INVESTMENT INCOME:
Dividend income................................. $ 1,667,966 $ 1,301,738 $ 1,137,334
Trustee's fees and expenses..................... (129,130) (128,720) (128,718)
Sponsors' fees ................................. (53,067) (24,158) (2,449)
------------------------------------------
Net investment income........................... 1,485,769 1,148,860 1,006,167
------------------------------------------
REALIZED AND UNREALIZED GAIN (LOSS) ON
INVESTMENTS:
Realized gain on securities sold or
redeemed...................................... 19,529,579 26,528,231 8,040,846
Unrealized appreciation (depreciation)
of investments................................ (628,853) (9,055,120) 13,838,901
------------------------------------------
Net realized and unrealized gain on
investments................................... 18,900,726 17,473,111 21,879,747
------------------------------------------
NET INCREASE IN NET ASSETS RESULTING
FROM OPERATIONS................................. $20,386,495 $18,621,971 $22,885,914
==========================================
</TABLE>
See Notes to Financial Statements.
D - 3
<PAGE>
DEFINED ASSET FUNDS - EQUITY INVESTOR FUND
INDEX SERIES, S&P MIDCAP TRUST
STATEMENTS OF CHANGES IN NET ASSETS
<TABLE>
<CAPTION>
.........Years Ended December 31,.........
1999 1998 1997
------------------------------------------
<S> <C> <C> <C>
OPERATIONS:
Net investment income........................... $ 1,485,769 $ 1,148,860 $ 1,006,167
Realized gain on securities sold
or redeemed.................................. 19,529,579 26,528,231 8,040,846
Unrealized appreciation (depreciation)
of investments............................... (628,853) (9,055,120) 13,838,901
------------------------------------------
Net increase in net assets resulting
from operations.............................. 20,386,495 18,621,971 22,885,914
------------------------------------------
DISTRIBUTIONS TO HOLDERS (Note 2):
Income.......................................... (1,523,024) (1,159,944) (946,032)
Principal....................................... (27,778,501) (17,276,624) (7,083,369)
------------------------------------------
Total distributions............................. (29,301,525) (18,436,568) (8,029,401)
------------------------------------------
CAPITAL SHARE TRANSACTIONS:
Issuance of 25,550,703, 19,617,727 and 8,266,165
additional units, respectively ............... 40,941,769 34,580,318 13,613,877
Redemptions of 2,738,414, 3,694,169 and
2,071,441 units, respectively ................ (4,555,877) (6,109,494) (3,299,904)
------------------------------------------
Net capital share transactions.................. 36,385,892 28,470,824 10,313,973
------------------------------------------
NET INCREASE IN NET ASSETS........................ 27,470,862 28,656,227 25,170,486
NET ASSETS AT BEGINNING OF YEAR................... 122,798,146 94,141,919 68,971,433
------------------------------------------
NET ASSETS AT END OF YEAR......................... $150,269,008 $122,798,146 $94,141,919
==========================================
PER UNIT:
Income distributions during year................ .01828 .01856 .01796
==========================================
Principal distributions during year............. .32793 .26442 .12801
==========================================
Net asset value at end of year.................. 1.59050 1.71346 1.68885
==========================================
TRUST UNITS OUTSTANDING AT END OF YEAR............ 94,479,164 71,666,875 55,743,317
==========================================
</TABLE>
See Notes to Financial Statements.
D - 4
<PAGE>
DEFINED ASSET FUNDS - EQUITY INVESTOR FUND
INDEX SERIES, S&P MIDCAP TRUST
NOTES TO FINANCIAL STATEMENTS
1. SIGNIFICANT ACCOUNTING POLICIES
The Fund is registered under the Investment Company Act of 1940 as a Unit
Investment Trust. The following is a summary of significant accounting
policies consistently followed by the Fund in the preparation of its
financial statements. The policies are in conformity with generally
accepted accounting principles.
(a) Securities are stated at market value; for securities listed on a
national securities exchange, value is based on the closing price on
such exchange and for securities not so listed, value is based on the
current bid price on the over-the-counter market. Realized gains or
losses on sales of securities are determined using the first-in,
first-out cost method.
(b) The Fund is not subject to income taxes. Accordingly, no
provision for such taxes is required.
(c) Dividend income is recorded on the ex-dividend date.
2. DISTRIBUTIONS
A distribution of net investment income is made to Holders on the
twenty-fifth day of each month. Receipts other than dividends, after
deductions for redemptions and applicable expenses, are also distributed
periodically.
3. NET CAPITAL
<TABLE>
<S> <C>
Cost of 94,479,164 units at Date of Deposit................. $135,599,609
Less sales charge........................................... 3,051,263
---------------
Net amount applicable to Holders............................ 132,548,346
Redemptions of units - net cost of 10,981,253 units
redeemed less redemption amounts.......................... (3,218,130)
Realized gain on securities sold or redeemed................ 63,942,215
Principal distributions..................................... (60,429,713)
Net unrealized appreciation of investments.................. 17,367,971
---------------
Net capital applicable to Holders........................... $150,210,689
===============
</TABLE>
D - 5
<PAGE>
DEFINED ASSET FUNDS - EQUITY INVESTOR FUND
INDEX SERIES, S&P MIDCAP TRUST
NOTES TO FINANCIAL STATEMENTS
4. INCOME TAXES
As of December 31, 1999, net unrealized appreciation of investments, based
on cost for Federal income tax purposes, aggregated $17,367,971, of which
$36,033,391 related to appreciated securities and $18,665,420 related to
depreciated securities. The cost of investment securities for Federal
income tax purposes was $136,373,127 at December 31, 1999.
D - 6
<PAGE>
DEFINED ASSET FUNDS - EQUITY INVESTOR FUND
INDEX SERIES, S&P MIDCAP TRUST
PORFOLIO
AS OF DECEMBER 31, 1999
<TABLE>
<CAPTION>
Percentage
Port- of Total
folio Market
No. Common Stocks Shares Cost (1) Value (1) Value
--- ------------- ------ -------- -------- -----
<S> <C> <C> <C> <C> <C>
1 Veritas Software 43,200 $ 1,488,223 $ 6,183,000 4.02 %
2 Siebel Sys. Inc. 32,200 696,413 2,704,800 1.76 %
3 Maxim Integrated Products 45,600 822,700 2,151,750 1.40 %
4 Biogen Inc. 25,100 799,456 2,120,950 1.38 %
5 Intuit Inc. 32,600 708,945 1,953,963 1.27 %
6 Medimmune Inc. 11,200 859,256 1,857,800 1.21 %
7 Linear Technology Corporation 25,700 890,234 1,839,156 1.20 %
8 Univision 17,000 1,061,821 1,737,188 1.13 %
9 Altera Corporation 33,300 713,447 1,650,431 1.07 %
10 Harley Davidson Inc. 25,200 833,591 1,614,375 1.05 %
11 Broadwing Inc. 36,100 747,095 1,331,188 0.87 %
12 Vitesse 25,600 691,019 1,342,400 0.87 %
13 Chiron Corporation 30,300 649,444 1,283,963 0.84 %
14 Telephone & Data 10,300 509,166 1,297,800 0.84 %
15 Marshall & Ilsley Corporation 17,800 835,507 1,118,063 0.73 %
16 Stryker Corporation 16,200 615,850 1,127,925 0.73 %
17 Tiffany & Co. 12,000 319,889 1,071,000 0.70 %
18 E Trade Group Inc. 40,800 1,042,024 1,065,900 0.69 %
19 JBL 14,600 708,418 1,065,800 0.69 %
20 Atmel Corporation 33,600 364,112 993,300 0.65 %
21 Cintas Corporation 18,500 864,766 982,813 0.64 %
22 Legato Systems 14,200 492,206 977,138 0.64 %
23 SCI Systems Inc. 12,000 488,395 986,250 0.64 %
24 Cadence Design Sys. Inc. 40,600 847,353 974,400 0.63 %
25 Qlogic Corporation 6,100 508,384 975,238 0.63 %
26 Sanmina Corporation 9,700 668,256 968,788 0.63 %
27 Checkfree Holdings 9,100 452,085 950,950 0.62 %
28 Comdisco Inc. 25,544 338,603 951,514 0.62 %
29 Symbol Technologies 14,787 354,828 939,899 0.61 %
30 Millennium Pharmacies 7,400 554,300 902,800 0.59 %
31 Conford EFS, Inc. 34,350 867,597 884,513 0.58 %
32 Washington Post 1,600 755,235 889,400 0.58 %
33 Electronic Arts 10,500 448,190 882,000 0.57 %
34 Forest Laboratories Inc. 13,900 475,275 853,981 0.56 %
</TABLE>
D - 7
<PAGE>
DEFINED ASSET FUNDS - EQUITY INVESTOR FUND
INDEX SERIES, S&P MIDCAP TRUST
PORFOLIO
AS OF DECEMBER 31, 1999
<TABLE>
<CAPTION>
Percentage
Port- of Total
folio Market
No. Common Stocks Shares Cost (1) Value (1) Value
- --- ------------- ------ -------- -------- -----
<S> <C> <C> <C> <C> <C>
35 American Power Conversion Corp. 32,100 $ 470,135 $ 846,638 0.55 %
36 Hispanic Broadcasting 9,100 599,569 839,191 0.55 %
37 Zions Bancorp 14,300 738,387 846,381 0.55 %
38 First Security Corporation 32,630 589,894 833,085 0.54 %
39 DST 10,600 725,493 808,913 0.53 %
40 Novellus Systems Inc. 6,500 459,750 796,453 0.52 %
41 CVG 25,500 509,326 784,125 0.51 %
42 Fiserv Inc. 20,450 480,433 783,491 0.51 %
43 Synopsys Inc. 11,800 565,567 787,650 0.51 %
44 Starbucks Coffee 30,400 642,993 737,200 0.48 %
45 Noble Drilling Corporation 21,900 410,485 717,225 0.47 %
46 Rational Software Co. 14,600 511,569 717,225 0.47 %
47 Weatherford Intl. Inc. 18,021 654,606 719,714 0.47 %
48 Nabors Inds. Inc. 23,100 470,245 714,656 0.46 %
49 Westwood One, Inc. 9,200 449,695 699,200 0.45 %
50 Calpine Corporation 10,500 452,741 672,000 0.44 %
51 Charter One Financial Inc. 35,351 918,152 676,088 0.44 %
52 Montana Power Company 18,400 355,139 663,550 0.43 %
53 Genzyme Corporation 14,000 481,907 630,000 0.41 %
54 Park Pl Entmn. Corporation 50,900 651,895 636,250 0.41 %
55 AMBAC Financial Group 11,700 542,634 610,594 0.40 %
56 First Tennessee National Corp. 21,700 559,379 618,450 0.40 %
57 NCR Corporation 16,100 586,718 609,788 0.40 %
58 Network Associates 23,250 935,668 620,484 0.40 %
59 Tyson Foods 38,300 734,782 622,375 0.40 %
60 Cypress Semiconducter 18,200 258,706 589,225 0.38 %
61 Microchip Technology 8,500 249,068 581,719 0.38 %
62 Reliastar 14,800 645,578 579,975 0.38 %
63 CDW Computer Centers 7,250 469,659 570,031 0.37 %
64 Health Management 42,250 638,888 565,094 0.37 %
65 Symantec Corporation 9,700 217,588 568,663 0.37 %
66 Jones Apparel Group 20,406 504,022 553,511 0.36 %
67 Visx Inc. 10,700 683,088 553,725 0.36 %
68 Waters Corporation 10,400 635,016 551,200 0.36 %
</TABLE>
D - 8
<PAGE>
DEFINED ASSET FUNDS - EQUITY INVESTOR FUND
INDEX SERIES, S&P MIDCAP TRUST
PORFOLIO
AS OF DECEMBER 31, 1999
<TABLE>
<CAPTION>
Percentage
Port- of Total
folio Market
No. Common Stocks Shares Cost (1) Value (1) Value
- --- ------------- ------ -------- -------- -----
<S> <C> <C> <C> <C> <C>
69 American Standard 11,800 $ 507,169 $ 541,325 0.35 %
70 Mylan Labs 21,550 524,487 542,791 0.35 %
71 Sepracor Inc. 5,500 474,030 545,531 0.35 %
72 Ensco International 22,900 360,706 523,838 0.34 %
73 Keyspan Energy Corporation 22,350 693,972 518,241 0.34 %
74 Readers Digest Association 17,800 635,456 520,650 0.34 %
75 Allamerica Financial 9,000 516,373 500,625 0.33 %
76 New England Electric 9,900 423,691 512,325 0.33 %
77 Sterling Commerce Inc. 14,711 507,071 501,093 0.33 %
78 Sungard Data Systems Inc. 21,400 641,070 508,250 0.33 %
79 Allegheny Energy Inc. 18,400 556,399 495,650 0.32 %
80 B J Svcs. Co. 11,800 265,666 493,388 0.32 %
81 Dollar Tree Stores 10,300 362,094 498,906 0.32 %
82 Edward A.G. Inc. 15,387 429,533 493,346 0.32 %
83 Hannaford Bros. Co. 7,000 279,086 485,188 0.32 %
84 Hormel (Geo. A.) & Co. 12,100 385,429 491,563 0.32 %
85 Consolidated Paper Inc. 15,100 401,300 480,369 0.31 %
86 Devon Energy 14,300 567,830 470,113 0.31 %
87 Family Dlr. Stores Inc. 28,800 398,959 469,800 0.31 %
88 Global Marine Inc. 29,100 367,708 483,788 0.31 %
89 Manpower Inc. 12,700 388,263 477,838 0.31 %
90 Abercrombie & Fitch 17,200 486,051 459,025 0.30 %
91 Bowater Inc. 8,600 378,288 467,088 0.30 %
92 DPL Inc. 26,500 532,317 458,781 0.30 %
93 Potomac Electric Power Company 19,800 499,679 454,163 0.30 %
94 Scana Corporation 17,300 470,002 464,938 0.30 %
95 Unitrin Inc. 12,100 478,250 455,263 0.30 %
96 BJ'S Club 12,300 242,249 448,950 0.29 %
97 Integrated Device Tech. 15,200 209,163 440,800 0.29 %
98 International Speed 8,900 551,535 448,338 0.29 %
99 Ivax Corporation 17,600 280,820 453,200 0.29 %
100 Northeast Utilities 21,900 411,635 450,319 0.29 %
101 Sterling Software 14,100 374,642 444,150 0.29 %
102 Viad Corporation 15,800 354,179 440,425 0.29 %
</TABLE>
D - 9
<PAGE>
DEFINED ASSET FUNDS - EQUITY INVESTOR FUND
INDEX SERIES, S&P MIDCAP TRUST
PORFOLIO
AS OF DECEMBER 31, 1999
<TABLE>
<CAPTION>
Percentage
Port- of Total
folio Market
No. Common Stocks Shares Cost (1) Value (1) Value
- --- ------------- ------ -------- -------- -----
<S> <C> <C> <C> <C> <C>
103 Vishay Intertechnology 14,076 $ 273,440 $ 445,154 0.29 %
104 Avnet, Inc. 7,000 351,051 423,500 0.28 %
105 Compass Bancshares 19,000 553,510 423,938 0.28 %
106 DQE 12,600 485,595 436,275 0.28 %
107 Dial Corporation 17,600 373,398 427,900 0.28 %
108 Greenpoint Finance 18,000 577,761 428,625 0.28 %
109 Murphy Oil Corporation 7,500 326,187 430,313 0.28 %
110 Robert Half International 15,000 543,489 428,438 0.28 %
111 Sybron International Corporation 17,300 404,505 427,094 0.28 %
112 Williams-Sonoma 9,300 432,392 427,800 0.28 %
113 Express Scripts Inc. 6,400 321,782 409,600 0.27 %
114 National Commerce Bancorp 18,100 435,275 410,644 0.27 %
115 Quantum Corporation 27,500 432,738 415,938 0.27 %
116 SPX Corporation 5,200 297,399 420,225 0.27 %
117 Smith International Inc. 8,200 285,073 407,438 0.27 %
118 Arrow Electronics Inc. 16,000 332,987 406,000 0.26 %
119 Chris Craft Industries Inc. 5,604 252,394 404,189 0.26 %
120 Energy East Corporation 19,100 381,124 397,519 0.26 %
121 Gilead Sciences Inc. 7,300 383,027 395,113 0.26 %
122 Illinova Corporation 11,700 309,387 406,575 0.26 %
123 Nstar 10,000 419,262 405,000 0.26 %
124 Teco Energy 21,600 528,302 400,950 0.26 %
125 ACS 8,200 358,846 377,200 0.25 %
126 AH Bello Corp. 19,800 401,959 377,438 0.25 %
127 Informix Corporation 33,600 391,285 384,300 0.25 %
128 Keane Inc. 12,000 551,377 381,000 0.25 %
129 Kinder Morgan Inc. 18,750 522,829 378,516 0.25 %
130 Litton Industries Inc. 7,600 394,095 379,050 0.25 %
131 Minimed Inc. 5,200 442,008 380,900 0.25 %
132 North Fork Bancor 21,750 519,041 380,625 0.25 %
133 Nova 12,300 379,818 388,219 0.25 %
134 Pacificare Health Sys-B Inc. 7,256 532,852 384,568 0.25 %
135 Sonoco Products Co. 17,015 451,445 387,091 0.25 %
136 USG Corp. 8,200 400,891 386,425 0.25 %
</TABLE>
D - 10
<PAGE>
DEFINED ASSET FUNDS - EQUITY INVESTOR FUND
INDEX SERIES, S&P MIDCAP TRUST
PORFOLIO
AS OF DECEMBER 31, 1999
<TABLE>
<CAPTION>
Percentage
Port- of Total
folio Market
No. Common Stocks Shares Cost (1) Value (1) Value
- --- ------------- ------ -------- -------- -----
<S> <C> <C> <C> <C> <C>
137 Wisconsin Energy 19,700 $ 546,456 $ 379,225 0.25 %
138 Associated Banc. Corporation 10,675 399,766 365,619 0.24 %
139 The Finova Group, Inc. 10,200 494,472 362,100 0.24 %
140 LG & E Energy 21,600 545,480 376,650 0.24 %
141 Mercantile Bankshare Corporation 11,500 331,897 367,281 0.24 %
142 Nisource Inc. 20,900 495,156 373,588 0.24 %
143 Premier Parks 13,000 494,665 375,375 0.24 %
144 Saks Incorporated 24,160 739,572 375,990 0.24 %
145 Alliant Communications 13,100 410,558 360,250 0.23 %
146 American Eagle Outfit 7,800 350,213 351,000 0.23 %
147 First Virginia Banks Inc. 8,250 340,901 354,750 0.23 %
148 Harris Corporation 13,300 255,430 354,944 0.23 %
149 Lear Corporation 11,200 538,634 358,400 0.23 %
150 McCormick & Co. Inc. 11,800 339,138 351,050 0.23 %
151 The PMI Group Inc. 7,400 274,553 361,213 0.23 %
152 Polycom Inc. 5,500 339,475 350,281 0.23 %
153 Acxiom Corporation 14,300 281,495 343,200 0.22 %
154 Adtran, Inc. 6,600 257,507 339,488 0.22 %
155 American Water Works 16,200 436,194 344,250 0.22 %
156 Firstmerit Corporation 15,000 398,625 345,000 0.22 %
157 Georgia Pacific Timber Group 13,800 329,606 339,825 0.22 %
158 Hillenbrand Industries Inc. 10,900 526,451 345,394 0.22 %
159 ICN Pharmacueticals 13,100 493,772 331,594 0.22 %
160 Legg Mason Inc. 9,500 306,204 344,375 0.22 %
161 MCN Energy Group Inc. 14,300 320,939 339,625 0.22 %
162 Midamerican Energy Co. 10,000 323,469 336,875 0.22 %
163 Protective Life Corporation 10,800 393,500 343,575 0.22 %
164 Shaw Industries Inc. 22,300 390,633 344,256 0.22 %
165 TCF Financial Corporation 13,800 405,218 343,275 0.22 %
166 Tidewater Inc. 9,300 307,295 334,800 0.22 %
167 AK Steel Holding Corporation 17,200 338,745 324,650 0.21 %
168 Martin Marietta Materials 7,800 337,889 319,800 0.21 %
169 Outback Steakhouse 12,550 291,658 325,516 0.21 %
170 RJ Reynolds Tobacco 18,300 580,966 322,538 0.21 %
</TABLE>
D - 11
<PAGE>
DEFINED ASSET FUNDS - EQUITY INVESTOR FUND
INDEX SERIES, S&P MIDCAP TRUST
PORFOLIO
AS OF DECEMBER 31, 1999
<TABLE>
<CAPTION>
Percentage
Port- of Total
folio Market
No. Common Stocks Shares Cost (1) Value (1) Value
- --- ------------- ------ -------- -------- -----
<S> <C> <C> <C> <C> <C>
171 Ultramar Diamond Shamrock Corp. 14,462 $ 420,902 $ 328,107 0.21 %
172 Whitman Corporation 23,500 412,841 315,781 0.21 %
173 IMC Global Inc. 19,100 569,670 312,763 0.20 %
174 International Game Technology 15,000 313,078 304,688 0.20 %
175 Lincare Hldgs. 9,000 318,250 312,188 0.20 %
176 Mandalay 15,100 348,922 303,888 0.20 %
177 Miller Herman Inc. 13,300 234,394 305,900 0.20 %
178 National Fuel Gas Co. 6,500 269,613 302,250 0.20 %
179 Pentair Inc. 8,000 283,526 308,000 0.20 %
180 Southdown Incorporated 6,000 352,588 309,750 0.20 %
181 Storage Technology 16,700 446,795 307,906 0.20 %
182 Sykes Enterprises 7,100 194,356 311,513 0.20 %
183 Utilicorp United 15,450 344,925 300,309 0.20 %
184 CCB Financial Corporation 6,800 348,606 296,225 0.19 %
185 Hubbell Inc. Class B 10,840 403,524 295,390 0.19 %
186 Old Republic International 21,050 482,118 286,806 0.19 %
187 Reynolds & Reynolds Company 12,900 225,901 290,250 0.19 %
188 Sotheby's Holdings Inc. 9,800 220,350 294,000 0.19 %
189 Astoria Financial Corporation 9,100 430,866 276,981 0.18 %
190 CNF Transportation Inc. 8,100 267,241 279,450 0.18 %
191 Diebold Inc. 11,468 329,971 269,498 0.18 %
192 Dime Bancorp Inc. 18,500 454,303 279,813 0.18 %
193 Fastenal Company 6,300 263,653 283,106 0.18 %
194 Gatx Corporation 8,200 262,503 276,750 0.18 %
195 Hibernia Bancorp 26,700 397,915 283,688 0.18 %
196 IBP Inc. 15,400 326,792 277,200 0.18 %
197 Lubizol Corporation 9,100 271,600 280,963 0.18 %
198 Puget Sound Energy, Inc. 14,100 364,585 273,188 0.18 %
199 Ross Stores 15,100 346,163 270,856 0.18 %
200 Solutia Inc. 18,400 407,452 284,050 0.18 %
201 Sovereign Bancorp 36,600 503,087 272,784 0.18 %
202 U.S. Foodservice 16,900 333,291 283,075 0.18 %
203 American Financial Group Hldg. 9,700 344,230 255,838 0.17 %
204 Apollo Group Inc. 12,900 381,217 258,806 0.17 %
</TABLE>
D - 12
<PAGE>
DEFINED ASSET FUNDS - EQUITY INVESTOR FUND
INDEX SERIES, S&P MIDCAP TRUST
PORFOLIO
AS OF DECEMBER 31, 1999
<TABLE>
<CAPTION>
Percentage
Port- of Total
folio Market
No. Common Stocks Shares Cost (1) Value (1) Value
- --- ------------- ------ -------- -------- -----
<S> <C> <C> <C> <C> <C>
205 Brinker Intl. Inc. 10,925 $ 236,054 $ 262,200 0.17 %
206 CK Witco 19,879 447,136 265,882 0.17 %
207 Cambridge Tech. Partn. 10,100 215,306 265,125 0.17 %
208 Conectiv 15,475 335,438 260,173 0.17 %
209 Dean Foods Co. 6,500 258,513 258,375 0.17 %
210 Flowers Industries Inc. 16,750 284,557 266,953 0.17 %
211 Mohawk Industries Inc. 10,100 299,001 266,388 0.17 %
212 Provident Financial 7,300 316,569 261,888 0.17 %
213 Wilmington Trust 5,400 259,792 260,550 0.17 %
214 A.C. Nielson Corporation 9,700 209,288 238,863 0.16 %
215 Barnes & Noble 11,600 339,730 239,250 0.16 %
216 Beckman Instrs. Inc. 4,800 214,739 244,200 0.16 %
217 City National Corporation 7,600 193,531 250,325 0.16 %
218 Federal-Mogul Corporation 12,300 581,246 247,538 0.16 %
219 Harte-Hanks 11,500 305,604 250,125 0.16 %
220 Ipalco Enterprises 14,300 271,382 243,994 0.16 %
221 Lyondell Petrochemical 19,600 418,883 249,900 0.16 %
222 OGE Energy Corporation 13,000 302,213 247,000 0.16 %
223 Pacific Century Financial Corp. 13,400 274,813 250,413 0.16 %
224 Payless Shoesource 5,200 260,423 244,400 0.16 %
225 Santa Fe Snyder 30,800 264,949 246,400 0.16 %
226 Cabot Corporation 11,000 260,893 224,125 0.15 %
227 Callaway Golf Co. 12,700 246,641 224,631 0.15 %
228 Kansas City Power & Light Co. 10,300 276,296 227,244 0.15 %
229 Lee Enterprises Inc. 7,400 186,792 236,338 0.15 %
230 Media General Inc. 4,400 181,646 228,800 0.15 %
231 Modis Professional 16,000 414,696 228,000 0.15 %
232 Neiman Marcus Group 8,200 222,281 229,088 0.15 %
233 Sierra Pacific Resource 13,100 322,313 226,794 0.15 %
234 Tech Data Corporation 8,700 335,488 235,988 0.15 %
235 Borders Group, Inc. 13,000 373,611 208,813 0.14 %
236 Clayton Homes Inc. 23,313 275,424 214,188 0.14 %
237 Dentsply Intl. Inc. 8,800 206,721 207,900 0.14 %
238 Devry Inc. 11,600 234,392 216,050 0.14 %
</TABLE>
D - 13
<PAGE>
DEFINED ASSET FUNDS - EQUITY INVESTOR FUND
INDEX SERIES, S&P MIDCAP TRUST
PORFOLIO
AS OF DECEMBER 31, 1999
<TABLE>
<CAPTION>
Percentage
Port- of Total
folio Market
No. Common Stocks Shares Cost (1) Value (1) Value
- --- ------------- ------ -------- -------- -----
<S> <C> <C> <C> <C> <C>
239 First Health Group 8,200 $ 188,774 $ 220,375 0.14 %
240 Harsco Corporation 6,700 221,032 212,725 0.14 %
241 Hon Inds. Inc. 10,100 217,806 221,569 0.14 %
242 Houghton Mifflin Company 5,200 166,743 219,375 0.14 %
243 Interstate Bakeries 11,700 307,987 212,063 0.14 %
244 Lancaster Colony Corporation 6,665 196,021 220,778 0.14 %
245 Meritor Automotive 11,500 254,696 222,813 0.14 %
246 Minnesota Power And Light Co. 12,300 229,530 208,331 0.14 %
247 Ocean Energy Inc. 27,800 468,312 215,450 0.14 %
248 Rayonier Inc. 4,600 184,498 222,238 0.14 %
249 Sensormatic Electronics Corp. 12,650 211,702 220,584 0.14 %
250 Washington Gas Light 7,700 184,022 211,750 0.14 %
251 BLYTH 8,100 254,445 198,956 0.13 %
252 Cordant 6,100 187,828 201,300 0.13 %
253 Foundation Health Systems Inc. 20,400 433,444 202,725 0.13 %
254 Gartner Group Inc. 14,700 317,531 203,044 0.13 %
255 Helmerich & Payne Inc. 9,000 191,520 196,313 0.13 %
256 Imation Corporation 6,100 132,209 204,731 0.13 %
257 Noble Affiliates Inc. 9,500 297,460 203,656 0.13 %
258 Questar Corporation 13,700 246,762 205,500 0.13 %
259 Suiza Foods Corporation 5,200 240,177 206,050 0.13 %
260 Teleflex 6,300 204,717 197,269 0.13 %
261 Airborne Freight Corporation 8,100 207,291 178,200 0.12 %
262 Bergen Brunswig Corporation 22,350 403,538 185,784 0.12 %
263 Borg-Warner Automotive, Inc. 4,500 234,215 182,250 0.12 %
264 Carlisle Companies Inc. 5,000 177,297 180,000 0.12 %
265 Claires Stores Inc. 8,575 140,388 191,866 0.12 %
266 Donaldson Co. Inc. 7,700 128,053 185,281 0.12 %
267 Furniture Brands Intl. 8,200 214,208 180,400 0.12 %
268 Hanover Compressor Co. 4,800 157,488 181,200 0.12 %
269 Omnicare, Inc. 15,200 438,518 182,400 0.12 %
270 RPM, Inc. 17,975 257,128 183,120 0.12 %
271 Swift Transportation 10,700 236,475 188,588 0.12 %
272 Trigon Healthcare 6,500 228,163 191,750 0.12 %
</TABLE>
D - 14
<PAGE>
DEFINED ASSET FUNDS - EQUITY INVESTOR FUND
INDEX SERIES, S&P MIDCAP TRUST
PORFOLIO
AS OF DECEMBER 31, 1999
<TABLE>
<CAPTION>
Percentage
Port- of Total
folio Market
No. Common Stocks Shares Cost (1) Value (1) Value
- --- ------------- ------ -------- -------- -----
<S> <C> <C> <C> <C> <C>
273 Trinity Industries 6,550 $ 227,795 $ 186,266 0.12 %
274 Valero Refining & Marketing Co. 9,300 206,087 184,838 0.12 %
275 Webster Financial 7,600 201,413 179,075 0.12 %
276 York International 6,500 271,782 178,344 0.12 %
277 AGL Resources 9,500 186,111 161,500 0.11 %
278 Alexander & Baldwin Inc. 7,200 176,070 164,250 0.11 %
279 Church & Dwight Co. 6,500 104,949 173,469 0.11 %
280 Comsat Corporation 8,800 236,328 174,900 0.11 %
281 Cytec Ind. Inc. 7,000 239,886 161,875 0.11 %
282 Everest Reinsurance Holdings 7,800 278,111 174,038 0.11 %
283 HSB Group, Inc. 4,850 188,343 163,991 0.11 %
284 Idacorp Inc. Hldg. 6,300 197,822 168,919 0.11 %
285 Kennametal Inc. 5,000 160,324 168,125 0.11 %
286 Keysone Fin. Inc. 8,100 253,947 170,606 0.11 %
287 Lands' End Inc. 5,000 138,140 173,750 0.11 %
288 Oxford Health Plans 13,600 511,617 172,550 0.11 %
289 Scholastic Corporation 2,800 148,747 174,125 0.11 %
290 Universal Foods 8,400 172,003 171,150 0.11 %
291 Westamerica Bancorp 6,300 223,675 176,006 0.11 %
292 Alaska Air Group, Inc. 4,400 186,716 154,550 0.10 %
293 Albemarle Corporation 7,800 153,277 149,663 0.10 %
294 Apria Healthcare Group 8,700 162,118 156,056 0.10 %
295 CMP Group Inc. Holding 5,400 107,981 148,838 0.10 %
296 Dexter Corporation 3,800 116,491 151,050 0.10 %
297 Dole Food Inc. 9,300 322,897 151,125 0.10 %
298 Georgia Gulf Corporation 5,200 125,645 158,275 0.10 %
299 Hawaiian Electric Ind. Inc. 5,400 204,530 155,925 0.10 %
300 Investment Technology 5,200 199,239 149,500 0.10 %
301 Kelly Services Inc. 6,000 186,579 150,750 0.10 %
302 Newport News Shipbuilding 5,500 125,980 151,250 0.10 %
303 Ohio Casualty Corporation 10,000 178,838 160,625 0.10 %
304 Olin Corporation 7,500 157,249 148,594 0.10 %
305 Olsten Corporation 13,550 228,169 153,284 0.10 %
306 Pioneer Natural Resources Co. 16,700 380,437 149,256 0.10 %
</TABLE>
D - 15
<PAGE>
DEFINED ASSET FUNDS - EQUITY INVESTOR FUND
INDEX SERIES, S&P MIDCAP TRUST
PORFOLIO
AS OF DECEMBER 31, 1999
<TABLE>
<CAPTION>
Percentage
Port- of Total
folio Market
No. Common Stocks Shares Cost (1) Value (1) Value
- --- ------------- ------ -------- -------- -----
<S> <C> <C> <C> <C> <C>
307 Pittston Brink's Group 6,800 $ 199,179 $ 149,600 0.10 %
308 Policy Management Systems Corp. 5,900 207,236 150,819 0.10 %
309 Tecumseh Product 3,300 174,288 155,719 0.10 %
310 Transaction Sys. Architects Inc. 5,400 212,988 151,200 0.10 %
311 Westpoint Stevens 8,900 286,638 155,750 0.10 %
312 Agco Corporation 9,900 218,580 133,031 0.09 %
313 Carter Wallace Inc. 7,500 157,763 134,531 0.09 %
314 Cirrus Logic Inc. 10,900 163,206 145,106 0.09 %
315 Horace Mann Educator 6,800 175,589 133,450 0.09 %
316 Jacobs Engr. Group Inc. 4,300 136,851 139,750 0.09 %
317 Kaydon Corporation 5,100 149,133 136,744 0.09 %
318 Mark IV Industries Inc. 7,805 143,847 138,051 0.09 %
319 Mentor Graphics Corporation 10,700 125,776 141,106 0.09 %
320 Minerals Technologies 3,500 148,137 140,219 0.09 %
321 Papa John's International 5,100 222,131 132,919 0.09 %
322 Pennzoil-Quaker State Co. 12,973 201,289 132,162 0.09 %
323 UCAR International 7,500 253,239 133,594 0.09 %
324 Arvin Industries Inc. 4,300 144,264 122,013 0.08 %
325 CLECO Corporation 3,800 112,009 121,838 0.08 %
326 Federal Signal Corporation 7,700 175,612 123,681 0.08 %
327 Ferro Corporation 5,875 130,415 129,250 0.08 %
328 Fuller (H.B.) Co. 2,300 109,675 128,656 0.08 %
329 GTech Holdings Corporation 5,800 170,399 127,600 0.08 %
330 Longview Fibre Co. 8,600 133,166 122,550 0.08 %
331 Modine Manufacturing Co. 4,900 144,533 122,500 0.08 %
332 NCO Group Inc. 4,200 202,925 126,525 0.08 %
333 Nordson Corporation 2,700 145,361 130,275 0.08 %
334 Ruddick Corporation 7,700 116,901 119,350 0.08 %
335 Steris Corporation 11,300 316,158 116,531 0.08 %
336 Superior Industries 4,400 124,200 117,975 0.08 %
337 Unifi, Inc. 9,850 251,610 121,278 0.08 %
338 Universal Corporation 5,200 163,936 118,625 0.08 %
339 Wallace Computer 7,000 170,038 116,375 0.08 %
340 Airgas Inc. 11,700 195,641 111,150 0.07 %
</TABLE>
D - 16
<PAGE>
DEFINED ASSET FUNDS - EQUITY INVESTOR FUND
INDEX SERIES, S&P MIDCAP TRUST
PORFOLIO
AS OF DECEMBER 31, 1999
<TABLE>
<CAPTION>
Percentage
Port- of Total
folio Market
No. Common Stocks Shares Cost (1) Value (1) Value
- --- ------------- ------ -------- -------- -----
<S> <C> <C> <C> <C> <C>
341 Ametek 5,400 $ 104,533 $ 102,938 0.07 %
342 Bob Evans Farms Inc. 6,600 132,498 101,888 0.07 %
343 Carpenter Technology 3,700 142,829 101,519 0.07 %
344 Covance Inc. 9,700 220,245 104,881 0.07 %
345 Flowserve Corporation 6,250 158,582 106,250 0.07 %
346 Glatfelter Ph & Company 7,000 112,459 101,938 0.07 %
347 Micro Warehouse, Inc. 6,000 186,620 111,000 0.07 %
348 Officemax Inc. 18,900 246,156 103,950 0.07 %
349 Pss World Medical Inc. 11,800 222,775 111,363 0.07 %
350 Precision Castparts Corporation 4,100 189,633 107,625 0.07 %
351 Public Service Co. 6,800 121,604 110,500 0.07 %
352 Quorem Health Group 11,800 236,968 109,888 0.07 %
353 Sylvan Learning System 8,500 230,819 110,500 0.07 %
354 Varco International 10,900 105,883 111,044 0.07 %
355 Warnaco Group, Inc. 9,300 265,145 114,506 0.07 %
356 Wausau-Mosinee Paper Corporation 8,588 160,237 100,372 0.07 %
357 Wellman, Inc. 5,700 108,695 106,163 0.07 %
358 Wisconsin Central Transport 8,500 206,594 114,219 0.07 %
359 Bandag Inc. 3,700 161,624 92,500 0.06 %
360 Banta Corporation 4,400 111,864 99,275 0.06 %
361 CBRL Group 9,750 247,858 94,605 0.06 %
362 Chesapeake Corp. 2,900 97,415 88,450 0.06 %
363 Hanna (M.A.) Co. 8,200 129,841 89,688 0.06 %
364 Indiana Energy Inc. 4,933 97,562 87,561 0.06 %
365 Ogden Corporation 8,200 180,470 97,888 0.06 %
366 Perrigo Co. 12,200 201,424 97,600 0.06 %
367 Sequa Corporation 1,700 90,971 91,694 0.06 %
368 JM Smucker Co. 4,800 117,228 93,600 0.06 %
369 Standard Register Co. 4,600 131,476 89,125 0.06 %
370 Stewart Enterprises, Inc. 18,100 357,504 85,975 0.06 %
371 Total Rental Care 13,500 368,319 90,281 0.06 %
372 Albany Intl. Corporation 5,113 96,960 79,256 0.05 %
373 Beverly Enterprises 17,100 175,593 74,813 0.05 %
374 Black Hills Inc. 3,600 75,050 79,875 0.05 %
</TABLE>
D - 17
<PAGE>
DEFINED ASSET FUNDS - EQUITY INVESTOR FUND
INDEX SERIES, S&P MIDCAP TRUST
PORFOLIO
AS OF DECEMBER 31, 1999
<TABLE>
<CAPTION>
Percentage
Port- of Total
folio Market
No. Common Stocks Shares Cost (1) Value (1) Value
- --- ------------- ------ -------- -------- -----
<S> <C> <C> <C> <C> <C>
375 Buffets Inc. 7,000 $ 81,624 $ 70,000 0.05 %
376 Comp-USA Inc. 15,500 335,938 79,438 0.05 %
377 Dreyers Grand Ice Cream Inc. 4,600 72,144 78,200 0.05 %
378 Granite Construction Inc. 4,550 89,853 83,891 0.05 %
379 Hunt JB Trans. Svcs. Inc. 5,900 130,063 81,678 0.05 %
380 Navigant Consulting 6,900 276,705 75,038 0.05 %
381 Overseas Shipholding Group Inc. 5,600 104,659 82,950 0.05 %
382 Rollins, Inc. 5,050 104,899 75,750 0.05 %
383 Ryerson Tull 4,100 96,724 79,694 0.05 %
384 Schulman A Inc. 5,150 108,444 84,009 0.05 %
385 Structural Dynamic 6,000 116,598 76,500 0.05 %
386 Acuson 4,500 77,214 56,531 0.04 %
387 Arnold Inds. 4,100 66,683 57,656 0.04 %
388 Cleveland Cliffs Inc. 1,800 75,430 56,025 0.04 %
389 Ethyl Corporation 13,900 114,949 54,731 0.04 %
390 Stewart & Stevenson 4,700 111,064 55,666 0.04 %
391 International Multifoods Corp. 3,100 75,497 41,075 0.03 %
392 Lance Inc. 5,000 98,190 50,000 0.03 %
393 Lone Star Steakhouse 5,500 118,042 49,070 0.03 %
394 Maxxam Inc. 1,200 58,484 51,450 0.03 %
395 NCH Corporation 900 55,077 40,106 0.03 %
396 Vlasic Food 7,600 159,368 43,225 0.03 %
397 Burlington Inds. Inc. 8,800 93,171 35,200 0.02 %
398 Heilg-Meyers Co. 9,975 134,787 27,431 0.02 %
399 Magnetek Inc. 4,000 58,783 30,750 0.02 %
400 Oregon Steel Mills Inc. 4,300 72,711 34,093 0.02 %
--------- ------------- ------------ ------
4,979,112 $136,373,127 $153,741,098 100 %
========= ============= ============ ======
</TABLE>
NOTE:
(1) See Notes to Financial Statements.
D - 18
<PAGE>
DEFINED ASSET FUNDS--REGISTERED TRADEMARK--
<TABLE>
<S> <C>
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</TABLE>
