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FORM 13F
---------------------------
OMB APPROVAL
---------------------------
OMB Number 3235-0006
Expires: October 31, 2000
Estimated average
burden hours per
responses: ......... 24.7
---------------------------
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: March 31, 1999
Check here if Amendment [ ]: Amendment Number: ______________
This Amendment (Check only one.):
[ ] is a restatement.
[ ] adds new holdings entries.
Institutional Investment Manager Filing this Report:
Name: Phoenix Home Life Mutual Insurance Company
Address: One American Row, Hartford, CT 06102-5056
Form 13F File Number: 28-3340
The institutional investment manager filing this report and
the person by whom it is signed hereby represent that the person
signing the report is authorized to submit it, that all
information contained herein is true, correct and complete, and
that it is understood that all required items, statements,
schedules, lists and tables, are considered integral parts of this
form.
Person Signing this Report on Behalf of Reporting Manager:
Name: John H. Beers
-------------------------------------------------------------------------
Title: Vice President and Associate General Counsel
Phone: (860) 403-5000
-------------------------------------------------------------------------
Signature, Place and Date of Signing:
/s/ John H. Beers
- --------------------------------------------------------------------------------
(Signature)
Hartford, CT
- --------------------------------------------------------------------------------
(City, State)
May 12, 1999
- --------------------------------------------------------------------------------
(Date)
All securities with respect to which Phoenix Investment Counsel, Inc.
exercises investment discretion are being reported by Phoenix Home Life Mutual
Insurance Company, One American Row, Hartford, Connecticut. All securities with
respect to which Phoenix Investment Partners, Ltd. exercises investment
discretion, other than those as to which (a) Duff & Phelps Investment Management
Co. and its subsidiary, Phoenix Duff & Phelps Investment Advisors, (b) Seneca
Capital Management LLC, (c) Pasadena Capital Corporation and its subsidiary,
Roger Engemann & Associates, Inc., and (d) Zweig/Glaser Advisers, LLC and its
related subsidiaries exercise investment discretion, are reported by Phoenix
Home Life Mutual Insurance Company, One American Row, Hartford, Connecticut.
Duff & Phelps Investment Management Co., 55 East Monroe Street, Chicago,
Illinois separately reports securities as to which it or Phoenix Duff & Phelps
Investment Advisors exercises investment decision; Seneca Capital Management
LLC, 909 Montgomery Street, San Francisco, California, separately reports
securities as to which it exercises investment discretion; Roger Engemann &
Associates, Inc., 600 North Rosemead Boulevard, Pasadena, California reports,
for itself and its immediate parent, Pasadena Capital Corporation, securities as
to which it exercises investment discretion; and Zweig/Glaser Advisers, LLC, 900
Third Avenue, New York, NY reports for itself, and its related subsidiaries,
securities as to which it exercises investment discretion.
<PAGE>
Report Type (Check only one):
|X| 13F HOLDINGS REPORT. (Check here if all holdings of this reporting manager
are reported in this report.)
|_| 13F NOTICE. (Check here if no holdings reported are in this report, and all
holdings are reported by other reporting manager(s).
|_| 13F COMBINATION REPORT. (Check here if a portion of the holdings for this
reporting manager are reported in this report and a portion are reported by
other reporting manager(s).)
Form 13F Summary Page
Report Summary:
Number of Other Included Managers: 2
Form 13F Information Table Entry Total: 612
Form 13F Information Table Value Total: $9,088,765,404 (billion)
List of Other Included Managers:
Provide a numbered list of the name(s) and Form 13F file number(s)
of all institutional investment managers with respect to which this
report is filed, other than the manager filing this report. [If there
are no entries in this list, state "NONE" and omit the column headings
and list entries.]
No. 1
-----------------------------------------------------------------------------
Form 13F File Number 28-85
-----------------------------------------------------------
Name Phoenix Investment Counsel, Inc.
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No. 2
-----------------------------------------------------------------------------
Form 13F File Number 28-7284
-----------------------------------------------------------
Name Phoenix Investment Partners, Ltd.
--------------------------------------------------------------------------
<PAGE>
<TABLE>
<CAPTION>
ITEM 1 ITEM 2 ITEM 3 ITEM 4 ITEM 5
- ------ ------ ------ ------ ------
FAIR SHARES OR
TITLE OF CUSIP MARKET PRINCIPAL
NAME OF ISSUER CLASS NUMBER VALUE AMOUNT SH/PRN
-------------- ----- ------ ----- ------ ------
<S> <C> <C> <C> <C> <C>
AFC CABLE SYSTEMS IN COMMON 000950105 327,250 11,000 SH
AT & T CORP. COMMON 001957109 315,925,794 3,958,350 SH
LIBERTY MEDIA GROUP COMMON 001957208 184,737,431 3,510,450 SH
ABACUS DIRECT CORP. COMMON 002553105 6,806,000 83,000 SH
ABBOTT LABORATORIES COMMON 002824100 655,375 14,000 SH
ABERCROMBIE & FITCH CO. COMMON 002896207 3,015,760 32,780 SH
ACNIELSEN CORPORATION COMMON 004833109 116,638 4,300 SH
ADOBE SYS INC COMMON 00724F101 45,400 800 SH
ADVANCED ENERGY IND., INC. COMMON 007973100 2,426,938 103,000 SH
AETNA, INC. COMMON 008117103 406,700 4,900 SH
AFFYMETRIX INC COMMON 00826T108 2,405,544 69,100 SH
AIRTOUCH COMMUNICATIONS, INC. COMMON 00949T100 177,703,038 1,839,100 SH
ALASKA AIR GROUP, INC. COMMON 011659109 166,250 3,500 SH
ALUMINUM CO. AMERICA ALCOA COMMON 013817101 1,046,163 25,400 SH
ALLERGAN INC COMMON 018490102 1,652,050 18,800 SH
ALLIEDSIGNAL, INC. COMMON 019512102 767,325 15,600 SH
ALLSTATE CORP. COMMON 020002101 6,993,697 188,700 SH
A.L. PHARMA, INC. COMMON 020813101 2,551,250 65,000 SH
AMAZON.COM, INC. COMMON 023135106 3,788,125 22,000 SH
AMBAC FINANCIAL GROUP, INC. COMMON 023139108 1,890,000 35,000 SH
AMERICAN ONLINE INC DEL COMMON 02364J104 166,622,775 1,141,225 SH
AMERICAN EXPRESS COMMON 025816109 2,925,750 24,900 SH
AMERICAN HOME PRODUCTS CORP. COMMON 026609107 74,169,675 1,136,700 SH
AMERICAN INTERNATIONAL GROUP, COMMON 026874107 151,999,563 1,260,100 SH
AMER MGMT SYST COMMON 027352103 354,900 10,400 SH
AMERICAN TOWER CORP COMMON 029912201 8,809,220 359,560 SH
AMERISOURSE HEALTH CORP. COMMON 03071P102 82,050 2,400 SH
AMERITRADE COMMON 03072H109 1,605,500 26,000 SH
AMES DEPARTMENT STORES, INC. COMMON 030789507 471,488 12,700 SH
AMERITECH CORP COMMON 030954101 3,918,138 67,700 SH
AMGEN, INC. COMMON 031162100 8,573,188 114,500 SH
AMKOR TECHNOLOGY INC COMMON 031652100 470,138 59,700 SH
ANDRX CORP. COMMON 034551101 574,088 6,300 SH
ANHEUSER-BUSCH COS. COMMON 035229103 13,955,264 183,170 SH
ANN TAYLOR STORES COMMON 036115103 636,300 14,400 SH
APARTMENT INVT & MGMT CO COM COMMON 03748R101 333,500 9,200 SH
APPLE COMPUTER, INC. COMMON 037833100 4,255,000 118,400 SH
APPLIED DIGITAL ACCESS COMMON 038181103 254,412 113,072 SH
APPLIED MICRO CIRCUITS CORP. COMMON 03822W109 3,740,625 87,500 SH
ARADIGM CORP COMMON STOCK COMMON 038505103 312,504 34,247 SH
ARDEN REALTY GROUP COM COMMON 039793104 467,250 21,000 SH
ARMSTRONG WORLD INDUSTRIES COMMON 042476101 225,938 5,000 SH
ARTHROCARE CORP COMMON 043136100 601,376 36,447 SH
ARVIN INDUSTRIES COMMON 043339100 23,581 700 SH
ASCEND COMMUNICATIONS, INC. COMMON 043491109 8,117,836 97,001 SH
ASPEC DEVELOPMENT, INC. COMMON 045234101 4,905,750 211,000 SH
ASSISTED LIVING CONCEPTS CV. BOND 04543LAE9 183,613 370,000 PRN
AT HOME CORP. COMMON 045919107 11,434,500 72,600 SH
ATLANTIC RICHFIELD CO. COMMON 048825103 1,168,000 16,000 SH
AUTOBYTEL.COM COMMON 05275N106 427,125 10,200 SH
AUTODESK,INC COMMON 052769106 1,415,313 35,000 SH
AVALONBAY COMM INC COM COMMON 053484101 307,881 9,659 SH
BP AMOCO PLC F.COM. ADR 055622104 176,357,233 1,747,192 SH
BRE PPTY INC CL A COM COMMON 05564E106 201,363 8,900 SH
BMC SOFTWARE, INC. COMMON 055921100 66,838,513 1,803,400 SH
BAKER HUGHES CV 0% 5/5/08 CV. BOND 057224AH0 1,742,500 2,600,000 PRN
BALL CORP. COMMON 058498106 75,100 1,600 SH
BANCO FRANCES ADR F.COM. ADR 059591107 244,950 13,800 SH
BANCWESTCORP COMMON 059790105 1,049,750 24,700 SH
BANK OF NEW YORK CO., INC. COMMON 064057102 628,906 17,500 SH
BANK ONE CORP. COMMON 06423A103 17,460,321 317,100 SH
<CAPTION>
ITEM 1 ITEM 6 ITEM 7 ITEM 8
- ------ ------ ------ ------
VOTING AUTHORITY
----------------
INVESTMENT
DISCRETION SOLE SHARED
NAME OF ISSUER PUT/CALL SOLE (A) MANAGERS (A) (B)
-------------- -------- -------- -------- --- ---
<S> <C> <C> <C> <C> <C>
AFC CABLE SYSTEMS IN 11,000 1 11,000
AT & T CORP. 3,958,350 1 3,958,350
LIBERTY MEDIA GROUP 3,510,450 1 3,510,450
ABACUS DIRECT CORP. 83,000 1 83,000
ABBOTT LABORATORIES 14,000 1 14,000
ABERCROMBIE & FITCH CO. 32,780 1 32,780
ACNIELSEN CORPORATION 4,300 1 4,300
ADOBE SYS INC 800 1 800
ADVANCED ENERGY IND., INC. 103,000 1 103,000
AETNA, INC. 4,900 1 4,900
AFFYMETRIX INC 69,100 1 69,100
AIRTOUCH COMMUNICATIONS, INC. 1,839,100 1 1,839,100
ALASKA AIR GROUP, INC. 3,500 1 3,500
ALUMINUM CO. AMERICA ALCOA 25,400 1 25,400
ALLERGAN INC 18,800 1 18,800
ALLIEDSIGNAL, INC. 15,600 1 15,600
ALLSTATE CORP. 188,700 1 188,700
A.L. PHARMA, INC. 65,000 1 65,000
AMAZON.COM, INC. 22,000 1 22,000
AMBAC FINANCIAL GROUP, INC. 35,000 1 35,000
AMERICAN ONLINE INC DEL 1,141,225 1 1,141,225
AMERICAN EXPRESS 24,900 1 24,900
AMERICAN HOME PRODUCTS CORP. 1,136,700 1 1,136,700
AMERICAN INTERNATIONAL GROUP, 1,260,100 1 1,260,100
AMER MGMT SYST 10,400 1 10,400
AMERICAN TOWER CORP 359,560 1 359,560
AMERISOURSE HEALTH CORP. 2,400 1 2,400
AMERITRADE 26,000 1 26,000
AMES DEPARTMENT STORES, INC. 12,700 1 12,700
AMERITECH CORP 67,700 1 67,700
AMGEN, INC. 114,500 1 114,500
AMKOR TECHNOLOGY INC 59,700 1 59,700
ANDRX CORP. 6,300 1 6,300
ANHEUSER-BUSCH COS. 183,170 1 183,170
ANN TAYLOR STORES 14,400 1 14,400
APARTMENT INVT & MGMT CO COM 9,200 1 9,200
APPLE COMPUTER, INC. 118,400 1 118,400
APPLIED DIGITAL ACCESS 113,072 1 113,072
APPLIED MICRO CIRCUITS CORP. 87,500 1 87,500
ARADIGM CORP COMMON STOCK 34,247 1 34,247
ARDEN REALTY GROUP COM 21,000 1 21,000
ARMSTRONG WORLD INDUSTRIES 5,000 1 5,000
ARTHROCARE CORP 36,447 1 36,447
ARVIN INDUSTRIES 700 1 700
ASCEND COMMUNICATIONS, INC. 97,001 1 97,001
ASPEC DEVELOPMENT, INC. 211,000 1 211,000
ASSISTED LIVING CONCEPTS 370,000 1 370,000
AT HOME CORP. 72,600 1 72,600
ATLANTIC RICHFIELD CO. 16,000 1 16,000
AUTOBYTEL.COM 10,200 1 10,200
AUTODESK,INC 35,000 1 35,000
AVALONBAY COMM INC COM 9,659 1 9,659
BP AMOCO PLC 1,747,192 1 1,747,192
BRE PPTY INC CL A COM 8,900 1 8,900
BMC SOFTWARE, INC. 1,803,400 1 1,803,400
BAKER HUGHES CV 0% 5/5/08 2,600,000 1 2,600,000
BALL CORP. 1,600 1 1,600
BANCO FRANCES ADR 13,800 1 13,800
BANCWESTCORP 24,700 1 24,700
BANK OF NEW YORK CO., INC. 17,500 1 17,500
BANK ONE CORP. 317,100 1 317,100
<PAGE>
<CAPTION>
ITEM 1 ITEM 2 ITEM 3 ITEM 4 ITEM 5
- ------ ------ ------ ------ ------
FAIR SHARES OR
TITLE OF CUSIP MARKET PRINCIPAL
NAME OF ISSUER CLASS NUMBER VALUE AMOUNT SH/PRN
-------------- ----- ------ ----- ------ ------
<S> <C> <C> <C> <C> <C>
BANK UNITED CORP COMMON 065412108 1,303,913 31,900 SH
BANKAMERICA CORP. COMMON 06605F102 199,008,080 2,817,814 SH
BARR LABS INC. COMMON 068306109 189,100 6,200 SH
BAXTER INTERNATIONAL, INC. COMMON 071813109 94,525,200 1,432,200 SH
BEAR STEARNS COS., INC. COMMON 073902108 196,625 4,400 SH
BED, BATH & BEYOND INC. COMMON 075896100 4,745,000 130,000 SH
BELL ATLANTIC CORP. COMMON 077853109 9,181,770 177,640 SH
BELLSOUTH CORP. COMMON 079860102 9,939,506 248,100 SH
BERGEN BRUNSWIG CORP. COMMON 083739102 918,000 45,900 SH
BEST BUY CO., INC. COMMON 086516101 2,106,000 40,500 SH
BIOGEN, INC. COMMON 090597105 2,286,250 20,000 SH
BLACK & DECKER CORP. COMMON 091797100 692,969 12,500 SH
BLACK BOX CORPORATIO COMMON 091826107 886,600 28,600 SH
BLOUNT INTERNATIONAL INC-CL A COMMON 095177101 288,750 10,000 SH
BOEING CO. COMMON 097023105 935,025 27,400 SH
BOSS HOLDINGS, INC. COMMON 10011B101 5,101 2,915 SH
BOSTON PPTYS INC COMMON 101121101 294,113 9,300 SH
BOTTOMLINE TECHNOLOGY COMMON 101388106 1,186,913 18,600 SH
BRADLEY REAL ESTATE TR COM COMMON 104580105 209,138 11,700 SH
BRIGGS & STRATTON COMMON 109043109 350,119 7,100 SH
BRISTOL-MYERS SQUIBB CO. COMMON 110122108 158,053,463 2,457,600 SH
BROADCAST COMMON 111310108 3,332,888 28,200 SH
BRUNSWICK CORP. COMMON 117043109 64,813 3,400 SH
CBS CORPORATION COMMON 12490K107 59,445,344 1,452,100 SH
C-CUBE MICROSYSTEMS COMMON 125015107 1,046,100 52,800 SH
CHS ELECTRONICS, INC COMMON 12542A206 9,563 3,000 SH
CIGNA CORP. COMMON 125509109 1,751,681 20,900 SH
CKE RESTAURANTS, INC. COMMON 12561E105 6,843,375 346,500 SH
CENTRAL MAINE POWER COMPANY COMMON 125887109 60,638 3,300 SH
CAL DIVE INTERNATIONAL COMMON 127914109 167,000 8,000 SH
CAPITAL ONE COMMON 14040H105 120,180,900 795,900 SH
CARDINAL HEALTH, INC. COMMON 14149Y108 103,553,010 1,568,985 SH
CARNIVAL CRUISE LINES COMMON 143658102 79,725,056 1,641,700 SH
CATELLUS DEVELOPMENT COM COMMON 149111106 187,250 14,000 SH
CATERPILLAR, INC. COMMON 149123101 275,625 6,000 SH
CELL GENESYS COMMON 150921104 1,392,375 282,000 SH
CELLSTAR CORP. COMMON 150925105 296,725 28,600 SH
CENDANT CORP. COMMON 151313103 15,444,450 980,600 SH
CENTEX CORP. COMMON 152312104 877,763 26,300 SH
CENTEX CONSTRUCTION COMMON 15231R109 327,238 9,400 SH
CENTOCOR, INC. COMMON 152342101 8,162,570 220,610 SH
CENTRAL & SOUTHWEST CORP. COMMON 152357109 5,043,758 215,200 SH
CENTURY BUSINESS SRV COMMON 156490104 203,438 18,600 SH
CENTURY TEL. ENTERP. INC. COMMON 156686107 3,161,250 45,000 SH
CHAMPIONSHIP AUTO RACING COMMON 158711101 145,625 5,000 SH
CHANCELLOR MEDIA CORP. COMMON 158915108 63,146,558 1,339,980 SH
CHARTER ONE FINANCIAL, INC. COMMON 160903100 4,262,530 147,700 SH
CHARTWELL RE CORP COMMON 16139W109 207,000 12,000 SH
CHASE MANHATTAN CORP. COMMON 16161A108 21,670,450 266,500 SH
CHATEAU CMNTY COM COMMON 161726104 413,793 15,047 SH
CHEESECAKE FACTORY COMMON 163072101 8,075,000 340,000 SH
CHESAPEAKE CORP. COMMON 165159104 339,063 12,500 SH
CHEVRON CORPORATION COMMON 166751107 2,122,500 24,000 SH
CHIRON CORP. COMMON 170040109 57,038 2,600 SH
CHRIS-CRAFT INDS INC COMMON 170520100 1,038,562 22,763 SH
CHURCH & DWIGHT COMMON 171340102 1,161,375 28,500 SH
CIENA CORP COM COMMON 171779101 1,052,213 46,765 SH
CINAR CORP. COMMON 171905300 2,254,000 98,000 SH
CISCO SYSTEMS, INC. COMMON 17275R102 226,138,317 2,064,012 SH
CITIGROUP INC COMMON 172967101 184,840,198 2,893,780 SH
CITRIX SYSTEMS, INC. COMMON 177376100 6,227,338 163,340 SH
CITY NATIONAL CORP. COMMON 178566105 1,756,788 56,900 SH
CLAIRE'S STORES INC. COMMON 179584107 12,914,588 428,700 SH
CLARIFY INC COMMON 180492100 922,150 34,553 SH
CLARK/BARDES HLDGS INC COM COMMON 180668105 9,445,200 555,600 SH
CLEAR CHANNELS COMMUNICATIONS, COMMON 184502102 61,456,075 916,400 SH
CLOROX CO. COMMON 189054109 3,199,219 27,300 SH
COCA COLA FEMSA SPONSORED F.COM. ADR 191241108 701,438 43,000 SH
COLGATE-PALMOLIVE CO. COMMON 194162103 3,700,240 40,220 SH
COMAIR HOLDINGS INC COMMON 199789108 467,775 19,800 SH
<CAPTION>
ITEM 1 ITEM 6 ITEM 7 ITEM 8
- ------ ------ ------ ------
VOTING AUTHORITY
----------------
INVESTMENT
DISCRETION SOLE SHARED
NAME OF ISSUER PUT/CALL SOLE (A) MANAGERS (A) (B)
-------------- -------- -------- -------- --- ---
<S> <C> <C> <C> <C> <C>
BANK UNITED CORP 31,900 1 31,900
BANKAMERICA CORP. 2,817,814 1 2,817,814
BARR LABS INC. 6,200 1 6,200
BAXTER INTERNATIONAL, INC. 1,432,200 1 1,432,200
BEAR STEARNS COS., INC. 4,400 1 4,400
BED, BATH & BEYOND INC. 130,000 1 130,000
BELL ATLANTIC CORP. 177,640 1 177,640
BELLSOUTH CORP. 248,100 1 248,100
BERGEN BRUNSWIG CORP. 45,900 1 45,900
BEST BUY CO., INC. 40,500 1 40,500
BIOGEN, INC. 20,000 1 20,000
BLACK & DECKER CORP. 12,500 1 12,500
BLACK BOX CORPORATIO 28,600 1 28,600
BLOUNT INTERNATIONAL INC-CL A 10,000 1 10,000
BOEING CO. 27,400 1 27,400
BOSS HOLDINGS, INC. 2,915 1 2,915
BOSTON PPTYS INC 9,300 1 9,300
BOTTOMLINE TECHNOLOGY 18,600 1 18,600
BRADLEY REAL ESTATE TR COM 11,700 1 11,700
BRIGGS & STRATTON 7,100 1 7,100
BRISTOL-MYERS SQUIBB CO. 2,457,600 1 2,457,600
BROADCAST 28,200 1 28,200
BRUNSWICK CORP. 3,400 1 3,400
CBS CORPORATION 1,452,100 1 1,452,100
C-CUBE MICROSYSTEMS 52,800 1 52,800
CHS ELECTRONICS, INC 3,000 1 3,000
CIGNA CORP. 20,900 1 20,900
CKE RESTAURANTS, INC. 346,500 1 346,500
CENTRAL MAINE POWER COMPANY 3,300 1 3,300
CAL DIVE INTERNATIONAL 8,000 1 8,000
CAPITAL ONE 795,900 1 795,900
CARDINAL HEALTH, INC. 1,568,985 1 1,568,985
CARNIVAL CRUISE LINES 1,641,700 1 1,641,700
CATELLUS DEVELOPMENT COM 14,000 1 14,000
CATERPILLAR, INC. 6,000 1 6,000
CELL GENESYS 282,000 1 282,000
CELLSTAR CORP. 28,600 1 28,600
CENDANT CORP. 980,600 1 980,600
CENTEX CORP. 26,300 1 26,300
CENTEX CONSTRUCTION 9,400 1 9,400
CENTOCOR, INC. 220,610 1 220,610
CENTRAL & SOUTHWEST CORP. 215,200 1 215,200
CENTURY BUSINESS SRV 18,600 1 18,600
CENTURY TEL. ENTERP. INC. 45,000 1 45,000
CHAMPIONSHIP AUTO RACING 5,000 1 5,000
CHANCELLOR MEDIA CORP. 1,339,980 1 1,339,980
CHARTER ONE FINANCIAL, INC. 147,700 1 147,700
CHARTWELL RE CORP 12,000 1 12,000
CHASE MANHATTAN CORP. 266,500 1 266,500
CHATEAU CMNTY COM 15,047 1 15,047
CHEESECAKE FACTORY 340,000 1 340,000
CHESAPEAKE CORP. 12,500 1 12,500
CHEVRON CORPORATION 24,000 1 24,000
CHIRON CORP. 2,600 1 2,600
CHRIS-CRAFT INDS INC 22,763 1 22,763
CHURCH & DWIGHT 28,500 1 28,500
CIENA CORP COM 46,765 1 46,765
CINAR CORP. 98,000 1 98,000
CISCO SYSTEMS, INC. 2,064,012 1 2,064,012
CITIGROUP INC 2,893,780 1 2,893,780
CITRIX SYSTEMS, INC. 163,340 1 163,340
CITY NATIONAL CORP. 56,900 1 56,900
CLAIRE'S STORES INC. 428,700 1 428,700
CLARIFY INC 34,553 1 34,553
CLARK/BARDES HLDGS INC COM 555,600 1 555,600
CLEAR CHANNELS COMMUNICATIONS, 916,400 1 916,400
CLOROX CO. 27,300 1 27,300
COCA COLA FEMSA SPONSORED 43,000 1 43,000
COLGATE-PALMOLIVE CO. 40,220 1 40,220
COMAIR HOLDINGS INC 19,800 1 19,800
<PAGE>
<CAPTION>
ITEM 1 ITEM 2 ITEM 3 ITEM 4 ITEM 5
- ------ ------ ------ ------ ------
FAIR SHARES OR
TITLE OF CUSIP MARKET PRINCIPAL
NAME OF ISSUER CLASS NUMBER VALUE AMOUNT SH/PRN
-------------- ----- ------ ----- ------ ------
<S> <C> <C> <C> <C> <C>
COMERICA INC. COMMON 200340107 9,898,841 158,540 SH
COMMERCE GROUP, INC. COMMON 200641108 1,365,675 55,600 SH
COPENE (144A) ADR F.COM. ADR 20441B407 75,000 10,000 SH
COMPAQ COMPUTER CORP. COMMON 204493100 4,626,375 146,000 SH
COMPUTER ASSOCIATES INTL COMMON 204912109 1,287,363 36,200 SH
COMPUTER SCIENCES CORP COMMON 205363104 965,781 17,500 SH
COMPUWARE CORP. COMMON 205638109 76,414,325 3,200,600 SH
COMVERSE TECHNOLOGY, INC. COMMON 205862402 1,649,000 19,400 SH
CONCENTRIC NETWORK CORP. COMMON 20589R107 2,392,000 32,000 SH
COM21 INC, COMMON 205937105 2,126,250 81,000 SH
CONCORD EFS, INC. COMMON 206197105 460,294 16,700 SH
CONEXANT SYSTEMS INC. COMMON 207142100 2,574,938 93,000 SH
CONOCO INC. COMMON 208251306 69,954,000 2,848,000 SH
CONSOLIDATED EDISON, INC. COMMON 209115104 2,039,063 45,000 SH
CONSOLIDATED STORES CORP. COMMON 210149100 3,789,063 125,000 SH
COORS(ADOLPH) CO. CLASS B COMMON 217016104 8,118,360 150,340 SH
CORDANT TECHNOLOGIES INC COMMON 218412104 712,644 17,900 SH
CORNERSTONE PPTYS INC COM COMMON 21922H103 310,050 21,200 SH
CORNING INCORPORATED COMMON 219350105 2,100,000 35,000 SH
CORPORATE EXEC. BOARD CO. COMMON 21988R102 5,934,375 225,000 SH
COST PLUS, INC. COMMON 221485105 6,389,063 217,500 SH
COSTCO COMPANIES, INC. COMMON 22160Q102 10,456,438 114,200 SH
COULTER PHARMACEUTICAL, INC. COMMON 222116105 1,566,000 72,000 SH
COUNTRYWIDE CREDIT INDUSTRIES, COMMON 222372104 5,463,750 145,700 SH
COX COMMUNICATIONS, INC. CLASS COMMON 224044107 3,025,000 40,000 SH
CRANE CO. COMMON 224399105 832,050 34,400 SH
CRITICAL PATH INC. COMMON 22674V100 288,750 3,750 SH
CROWN CASTLE INTERNATIONAL COMMON 228227104 5,083,200 282,400 SH
CULLEN/FROST BANKERS, INC. COMMON 229899109 1,768,894 36,900 SH
CURATIVE HEALTH COMMON 231264102 3,622,500 315,000 SH
CYMER, INC. COMMON 232572107 1,987,500 100,000 SH
D R HORTON INC COMMON 23331A109 70,350 4,200 SH
DETROIT EDISON CO. COMMON 233331107 4,016,719 104,500 SH
DALLAS SEMICONDUCTOR COMMON 235204104 2,066,438 53,500 SH
DATA GENERAL CORP. COMMON 237688106 399,938 39,500 SH
DAYTON HUDSON CORP. COMMON 239753106 3,371,225 50,600 SH
DEL MONTE FOODS CO. COMMON 24522P103 1,318,750 100,000 SH
DELL COMPUTER CORP. COMMON 247025109 114,691,163 2,805,900 SH
DELPHI FINANCIAL COMMON 247131105 643,625 19,000 SH
DELUXE CORP. COMMON 248019101 5,000,763 171,700 SH
DEVELOPERS DIVERSIFIED RLTY COM COMMON 251591103 237,596 16,600 SH
DIAMOND OFFSHORE 3.75% 07 CV. BOND 25271CAA0 5,837,125 5,650,000 PRN
DIAMONDS TRUST SRVCS COMMON 252787106 2,443,750 25,000 SH
DIEBOLD COMMON 253651103 1,956,000 81,500 SH
DIME BANCORP, INC. COMMON 25429Q102 53,331 2,300 SH
WALT DISNEY CO. COMMON 254687106 68,475 2,200 SH
DISTRIBUCION Y SERVICIO ADR F.COM. ADR 254753106 92,344 7,500 SH
DOLLAR TREE STORES, INC. COMMON 256747106 5,819,653 188,110 SH
DOMINION RESOURCES, INC. COMMON 257470104 1,832,100 49,600 SH
DONALDSON, LUFKIN & JENRETTE, COMMON 257661108 16,096,905 230,780 SH
DORAL FINANCIAL CORP. COMMON 25811P100 1,054,725 57,400 SH
DRIL-QUIP, INC. COMMON 262037104 900,150 40,800 SH
DUKE ENERGY CORP. COMMON 264399106 710,125 13,000 SH
DURA PHARMACEUTICALS COMMON 26632S109 2,541,088 179,900 SH
DYCOM INDUSTRIES COMMON 267475101 6,525,000 150,000 SH
ECI TELE F.COM. ADR 268258100 171,500 4,900 SH
EG & G.,INC. COMMON 268457108 1,527,113 57,900 SH
EMC CORP. COMMON 268648102 170,293,305 1,333,020 SH
ETEC SYSTEMS, INC. COMMON 26922C103 1,619,063 55,000 SH
EARTHGRAINS CO. COMMON 270319106 1,581,969 71,300 SH
EARTHLINK NETWORK COMMON 270322100 1,920,000 32,000 SH
EASTMAN KODAK CO. COMMON 277461109 5,499,638 86,100 SH
EATON CORP. COMMON 278058102 693,550 9,700 SH
ECHOSTAR COMM COMMON 278762109 3,586,000 44,000 SH
EDWARDS (A.G.), INC. COMMON 281760108 120,944 3,700 SH
EL PASO ENERGY CORP. COMMON 283905107 202,663 6,200 SH
ELAN PLC SPONSORED ADR F.COM. ADR 284131208 105,151,613 1,507,550 SH
ELECTRONIC ART COMMON 285512109 137,750 2,900 SH
ELECTRONICS FOR IMAGING, INC. COMMON 286082102 319,800 8,200 SH
EMBRATEL PARTICIPACOES S.A F.COM. ADR 29081N100 463,913 27,800 SH
<CAPTION>
ITEM 1 ITEM 6 ITEM 7 ITEM 8
- ------ ------ ------ ------
VOTING AUTHORITY
----------------
INVESTMENT
DISCRETION SOLE SHARED
NAME OF ISSUER PUT/CALL SOLE (A) MANAGERS (A) (B)
-------------- -------- -------- -------- --- ---
<S> <C> <C> <C> <C> <C>
COMERICA INC. 158,540 1 158,540
COMMERCE GROUP, INC. 55,600 1 55,600
COPENE (144A) ADR 10,000 1 10,000
COMPAQ COMPUTER CORP. 146,000 1 146,000
COMPUTER ASSOCIATES INTL 36,200 1 36,200
COMPUTER SCIENCES CORP 17,500 1 17,500
COMPUWARE CORP. 3,200,600 1 3,200,600
COMVERSE TECHNOLOGY, INC. 19,400 1 19,400
CONCENTRIC NETWORK CORP. 32,000 1 32,000
COM21 INC, 81,000 1 81,000
CONCORD EFS, INC. 16,700 1 16,700
CONEXANT SYSTEMS INC. 93,000 1 93,000
CONOCO INC. 2,848,000 1 2,848,000
CONSOLIDATED EDISON, INC. 45,000 1 45,000
CONSOLIDATED STORES CORP. 125,000 1 125,000
COORS(ADOLPH) CO. CLASS B 150,340 1 150,340
CORDANT TECHNOLOGIES INC 17,900 1 17,900
CORNERSTONE PPTYS INC COM 21,200 1 21,200
CORNING INCORPORATED 35,000 1 35,000
CORPORATE EXEC. BOARD CO. 225,000 1 225,000
COST PLUS, INC. 217,500 1 217,500
COSTCO COMPANIES, INC. 114,200 1 114,200
COULTER PHARMACEUTICAL, INC. 72,000 1 72,000
COUNTRYWIDE CREDIT INDUSTRIES, 145,700 1 145,700
COX COMMUNICATIONS, INC. CLASS 40,000 1 40,000
CRANE CO. 34,400 1 34,400
CRITICAL PATH INC. 3,750 1 3,750
CROWN CASTLE INTERNATIONAL 282,400 1 282,400
CULLEN/FROST BANKERS, INC. 36,900 1 36,900
CURATIVE HEALTH 315,000 1 315,000
CYMER, INC. 100,000 1 100,000
D R HORTON INC 4,200 1 4,200
DETROIT EDISON CO. 104,500 1 104,500
DALLAS SEMICONDUCTOR 53,500 1 53,500
DATA GENERAL CORP. 39,500 1 39,500
DAYTON HUDSON CORP. 50,600 1 50,600
DEL MONTE FOODS CO. 100,000 1 100,000
DELL COMPUTER CORP. 2,805,900 1 2,805,900
DELPHI FINANCIAL 19,000 1 19,000
DELUXE CORP. 171,700 1 171,700
DEVELOPERS DIVERSIFIED RLTY COM 16,600 1 16,600
DIAMOND OFFSHORE 3.75% 07 5,650,000 1 5,650,000
DIAMONDS TRUST SRVCS 25,000 1 25,000
DIEBOLD 81,500 1 81,500
DIME BANCORP, INC. 2,300 1 2,300
WALT DISNEY CO. 2,200 1 2,200
DISTRIBUCION Y SERVICIO ADR 7,500 1 7,500
DOLLAR TREE STORES, INC. 188,110 1 188,110
DOMINION RESOURCES, INC. 49,600 1 49,600
DONALDSON, LUFKIN & JENRETTE, 230,780 1 230,780
DORAL FINANCIAL CORP. 57,400 1 57,400
DRIL-QUIP, INC. 40,800 1 40,800
DUKE ENERGY CORP. 13,000 1 13,000
DURA PHARMACEUTICALS 179,900 1 179,900
DYCOM INDUSTRIES 150,000 1 150,000
ECI TELE 4,900 1 4,900
EG & G.,INC. 57,900 1 57,900
EMC CORP. 1,333,020 1 1,333,020
ETEC SYSTEMS, INC. 55,000 1 55,000
EARTHGRAINS CO. 71,300 1 71,300
EARTHLINK NETWORK 32,000 1 32,000
EASTMAN KODAK CO. 86,100 1 86,100
EATON CORP. 9,700 1 9,700
ECHOSTAR COMM 44,000 1 44,000
EDWARDS (A.G.), INC. 3,700 1 3,700
EL PASO ENERGY CORP. 6,200 1 6,200
ELAN PLC SPONSORED ADR 1,507,550 1 1,507,550
ELECTRONIC ART 2,900 1 2,900
ELECTRONICS FOR IMAGING, INC. 8,200 1 8,200
EMBRATEL PARTICIPACOES S.A 27,800 1 27,800
<PAGE>
<CAPTION>
ITEM 1 ITEM 2 ITEM 3 ITEM 4 ITEM 5
- ------ ------ ------ ------ ------
FAIR SHARES OR
TITLE OF CUSIP MARKET PRINCIPAL
NAME OF ISSUER CLASS NUMBER VALUE AMOUNT SH/PRN
-------------- ----- ------ ----- ------ ------
<S> <C> <C> <C> <C> <C>
EMULEX CORP. COMMON 292475209 2,224,200 67,400 SH
ENGLEHARD COMMON 292845104 640,238 37,800 SH
ENHANCE FINANCIAL COMMON 293310108 45,500 2,000 SH
EQUITABLE COMPANIES, INC. COMMON 29444G107 3,724,000 53,200 SH
EQUITY OFFICE PPTYS TR COM COMMON 294741103 749,654 29,543 SH
EQUITY RESIDENTIAL PROP TRUST COMMON 29476L107 505,808 12,262 SH
ERICSSON LM TEL CO ADR F.COM. ADR 294821400 1,571,625 66,000 SH
EVEREN CAPITAL CORPORATION COMMON 299761106 133,025 6,800 SH
EVEREST RE HOLDINGS COMMON 299808105 280,688 9,000 SH
EXCITE INC COM COMMON 300904109 1,680,000 12,000 SH
FF HOLDINGS CORP. CLASS B COMMON 301923108 - 2,000 SH
EXPEDITORS INTL WASH INC COMMON 302130109 2,430,000 45,000 SH
EXXON CORP COMMON 302290101 4,177,302 59,200 SH
FPL GROUP, INC. COMMON 302571104 468,600 8,800 SH
FASTENAL CO. COMMON 311900104 4,032,188 115,000 SH
FEDERAL AGRI COMMON 313148306 3,262,750 62,000 SH
FREDDIE MAC COMMON 313400301 74,536,700 1,304,800 SH
FEDERAL MOGUL CORP. COMMON 313549107 227,900 5,300 SH
FEDERAL NATIONAL MORTGAGE COMMON 313586109 13,960,800 201,600 SH
FEDERAL REALTY_UNVT TR COM COMMON 313747206 313,582 14,800 SH
FEDERATED DEPT STORES COMMON 31410H101 1,288,013 32,100 SH
FIRST DATA CORP. COMMON 319963104 769,500 18,000 SH
FIRST TENNESSEE NATIONAL CORP. COMMON 337162101 1,465,000 40,000 SH
FIRST UNION CORP. COMMON 337358105 5,760,565 107,800 SH
STAR BANC CORP. COMMON 33763V109 2,622,350 29,300 SH
FLASHNET COMMON 338527104 1,727,250 42,000 SH
FLEET FINANCIAL GROUP, INC. COMMON 338915101 3,168,025 84,200 SH
FLEETWOOD ENTERPRISES COMMON 339099103 621,163 21,700 SH
FLUOR CORP. COMMON 343861100 216,000 8,000 SH
FORD MOTOR CO. COMMON 345370100 18,783,320 331,000 SH
FORE SYSTEMS INC COMMON 345449102 4,821,094 255,000 SH
FOREST LABORATORIES, INC. CLAS COMMON 345838106 1,973,125 35,000 SH
FOSSIL INC. COMMON 349882100 38,756 1,300 SH
FRANCHISE FIN CORP COMMON 351807102 412,835 19,600 SH
FREMONT GENERAL CORP. COMMON 357288109 1,925,313 101,000 SH
FRONTIER CORPORATION COMMON 35906P105 1,815,625 35,000 SH
FRONTIER INS GROUP COMMON 359081106 499,938 42,100 SH
FULLER H.B. COMPANY COMMON 35969410 88,406 1,500 SH
FURON COMPANY COMMON 361106107 265,125 21,000 SH
GTE CORP. COMMON 362320103 4,991,250 82,500 SH
GABELLI ASSET MANAGEMENT INC. COMMON 36239Y102 6,458,438 415,000 SH
GALLAGHER -ARTHUR J. COMMON 363576109 2,884,200 62,700 SH
GAP, INC. COMMON 364760108 1,184,700 17,600 SH
GATEWAY 2000 COMMON 367833100 1,446,669 21,100 SH
GENENTECH INC. COMMON 368710307 4,059,025 45,800 SH
GENERAL DYNAMICS CORP. COMMON 369550108 1,285,000 20,000 SH
GENERAL ELECTRIC CO. COMMON 369604103 229,580,063 2,075,300 SH
GENERAL GROWTH PPTYS COM COMMON 370021107 447,644 13,800 SH
GENERAL INSTR COMMON 370120107 2,321,938 76,600 SH
GENERAL MILLS, INC. COMMON 370334104 5,074,022 67,150 SH
GENERAL MOTORS CORP. COMMON 370442105 5,734,075 66,000 SH
GENERAL MOTORS CORP. CLASS H COMMON 370442832 36,557,100 724,800 SH
GENZYME CORP COMMON 372917104 60,469,519 1,198,900 SH
GEORGIA PACIFIC CORP. COMMON 373298108 2,937,330 39,560 SH
GEOTEL COMMUNICATIONS CORP COMMON 373656107 1,192,750 26,000 SH
GILEAD SCIENCES INC. COMMON 375558103 1,213,181 26,700 SH
GILLETTE CO. COMMON 375766102 118,536,206 1,994,300 SH
GOLDEN STATE BANCORP COMMON 381197102 4,005,000 180,000 SH
GOODRICH CO., B.F. COMMON 382388106 2,477,363 72,200 SH
GRUPO TELEVISA ADR F.COM. ADR 40049J206 454,938 14,500 SH
GUIDANT COMMON 401698105 4,719,000 78,000 SH
HMT TECHNOLOGY CORP COMMON 403917107 53,375 15,250 SH
HCC INSURANCE HLDL COMMON 404132102 179,025 9,300 SH
HALLIBURTON CO. COMMON 406216101 36,648,150 951,900 SH
HARTFORD FINANCIAL SERVICES COMMON 416515104 2,232,731 39,300 SH
HEALTH CARE REIT COMMON 42217K106 1,182,500 55,000 SH
HEALTHCARE FINANCIAL PARTNERS, COMMON 42219W108 1,763,438 67,500 SH
HERSHEY FOODS CORP. COMMON 427866108 1,176,000 21,000 SH
HERTZ CORP COMMON 428040109 893,450 16,700 SH
HEWLETT PACKARD CO. COMMON 428236103 12,897,941 190,200 SH
<CAPTION>
ITEM 1 ITEM 6 ITEM 7 ITEM 8
- ------ ------ ------ ------
VOTING AUTHORITY
----------------
INVESTMENT
DISCRETION SOLE SHARED
NAME OF ISSUER PUT/CALL SOLE (A) MANAGERS (A) (B)
-------------- -------- -------- -------- --- ---
<S> <C> <C> <C> <C> <C>
EMULEX CORP. 67,400 1 67,400
ENGLEHARD 37,800 1 37,800
ENHANCE FINANCIAL 2,000 1 2,000
EQUITABLE COMPANIES, INC. 53,200 1 53,200
EQUITY OFFICE PPTYS TR COM 29,543 1 29,543
EQUITY RESIDENTIAL PROP TRUST 12,262 1 12,262
ERICSSON LM TEL CO ADR 66,000 1 66,000
EVEREN CAPITAL CORPORATION 6,800 1 6,800
EVEREST RE HOLDINGS 9,000 1 9,000
EXCITE INC COM 12,000 1 12,000
FF HOLDINGS CORP. CLASS B 2,000 1 2,000
EXPEDITORS INTL WASH INC 45,000 1 45,000
EXXON CORP 59,200 1 59,200
FPL GROUP, INC. 8,800 1 8,800
FASTENAL CO. 115,000 1 115,000
FEDERAL AGRI 62,000 1 62,000
FREDDIE MAC 1,304,800 1 1,304,800
FEDERAL MOGUL CORP. 5,300 1 5,300
FEDERAL NATIONAL MORTGAGE 201,600 1 201,600
FEDERAL REALTY_UNVT TR COM 14,800 1 14,800
FEDERATED DEPT STORES 32,100 1 32,100
FIRST DATA CORP. 18,000 1 18,000
FIRST TENNESSEE NATIONAL CORP. 40,000 1 40,000
FIRST UNION CORP. 107,800 1 107,800
STAR BANC CORP. 29,300 1 29,300
FLASHNET 42,000 1 42,000
FLEET FINANCIAL GROUP, INC. 84,200 1 84,200
FLEETWOOD ENTERPRISES 21,700 1 21,700
FLUOR CORP. 8,000 1 8,000
FORD MOTOR CO. 331,000 1 331,000
FORE SYSTEMS INC 255,000 1 255,000
FOREST LABORATORIES, INC. CLAS 35,000 1 35,000
FOSSIL INC. 1,300 1 1,300
FRANCHISE FIN CORP 19,600 1 19,600
FREMONT GENERAL CORP. 101,000 1 101,000
FRONTIER CORPORATION 35,000 1 35,000
FRONTIER INS GROUP 42,100 1 42,100
FULLER H.B. COMPANY 1,500 1 1,500
FURON COMPANY 21,000 1 21,000
GTE CORP. 82,500 1 82,500
GABELLI ASSET MANAGEMENT INC. 415,000 1 415,000
GALLAGHER -ARTHUR J. 62,700 1 62,700
GAP, INC. 17,600 1 17,600
GATEWAY 2000 21,100 1 21,100
GENENTECH INC. 45,800 1 45,800
GENERAL DYNAMICS CORP. 20,000 1 20,000
GENERAL ELECTRIC CO. 2,075,300 1 2,075,300
GENERAL GROWTH PPTYS COM 13,800 1 13,800
GENERAL INSTR 76,600 1 76,600
GENERAL MILLS, INC. 67,150 1 67,150
GENERAL MOTORS CORP. 66,000 1 66,000
GENERAL MOTORS CORP. CLASS H 724,800 1 724,800
GENZYME CORP 1,198,900 1 1,198,900
GEORGIA PACIFIC CORP. 39,560 1 39,560
GEOTEL COMMUNICATIONS CORP 26,000 1 26,000
GILEAD SCIENCES INC. 26,700 1 26,700
GILLETTE CO. 1,994,300 1 1,994,300
GOLDEN STATE BANCORP 180,000 1 180,000
GOODRICH CO., B.F. 72,200 1 72,200
GRUPO TELEVISA ADR 14,500 1 14,500
GUIDANT 78,000 1 78,000
HMT TECHNOLOGY CORP 15,250 1 15,250
HCC INSURANCE HLDL 9,300 1 9,300
HALLIBURTON CO. 951,900 1 951,900
HARTFORD FINANCIAL SERVICES 39,300 1 39,300
HEALTH CARE REIT 55,000 1 55,000
HEALTHCARE FINANCIAL PARTNERS, 67,500 1 67,500
HERSHEY FOODS CORP. 21,000 1 21,000
HERTZ CORP 16,700 1 16,700
HEWLETT PACKARD CO. 190,200 1 190,200
<PAGE>
<CAPTION>
ITEM 1 ITEM 2 ITEM 3 ITEM 4 ITEM 5
- ------ ------ ------ ------ ------
FAIR SHARES OR
TITLE OF CUSIP MARKET PRINCIPAL
NAME OF ISSUER CLASS NUMBER VALUE AMOUNT SH/PRN
-------------- ----- ------ ----- ------ ------
<S> <C> <C> <C> <C> <C>
HEWLETT-PACKARD CV. BOND 428236AC7 6,173,750 11,000,000 PRN
HILLENBRAND INDUSTRIES, INC. COMMON 431573104 789,806 17,100 SH
HOLLINGER INTL CL A COMMON 435569108 706,606 52,100 SH
HOME DEPOT, INC. COMMON 437076102 145,509,375 2,337,500 SH
HOME DEP CV 3.25% 10/01/01 CV. BOND 437076AE2 6,257,238 2,250,000 PRN
HONEYWELL, INC. COMMON 438506107 2,115,169 27,900 SH
HORACE MANN EDUCATORS CORP. COMMON 440327104 2,253,825 97,200 SH
HOSPITALITY PROPERTIES TRUST COMMON 44106M102 351,813 13,000 SH
HOST MARRIOTT CORP COMMON 44107P104 332,638 29,900 SH
HUMANA, INC. COMMON 444859102 393,300 22,800 SH
ICOS CORP. COMMON 449295104 1,586,250 47,000 SH
ISS GROUP INC. COMMON 450306105 4,595,100 57,800 SH
ITC DELTACOM, INC. COMMON 45031T104 1,963,125 90,000 SH
IDEXX LABORATORIES COMMON 45168D104 205,863 8,600 SH
ILLINOIS TOOL WORKS, INC. COMMON 452308109 785,813 12,700 SH
INFINITY BROADCASTING INC. COMMON 45662S102 3,218,750 125,000 SH
INGERSOLL RAND CO. COMMON 456866102 3,716,913 74,900 SH
INHALE THERAPE COMMON 457191104 2,441,250 90,000 SH
INKTOMI CORP. COMMON 457277101 4,347,525 50,700 SH
INTEL CORP. COMMON 458140100 239,745,451 2,012,570 SH
INTERIM SERVICES INC COMMON 45868P100 127,500 8,500 SH
INTERNATIONAL BUSINESS MACHINE COMMON 459200101 203,779,008 1,149,670 SH
INTERNATIONAL GAME TECHNOLOGY COMMON 459902102 152,906 10,500 SH
INTERNATIONAL NETWORK SERVICES COM COMMON 460053101 3,753,293 53,666 SH
INTL SPEEDWAY CORP. CL A COMMON 460335201 4,483,750 85,000 SH
INTERPUBLIC GROUP OF COS.,INC. COMMON 460690100 3,504,375 45,000 SH
INTERPUBLIC 1.80% CV 9/16/04 CV. BOND 460690AD2 2,784,375 2,500,000 PRN
INTUIT INC COMMON 461202103 2,370,775 23,300 SH
INVITROGEN CORP. COMMON 46185R100 984,938 76,500 SH
JABIL CIRCUIT COMMON 466313103 4,860,000 120,000 SH
JEFFERIES GROUP INC COMMON 472318104 2,134,688 45,000 SH
JOHNSON & JOHNSON COMMON 478160104 3,962,531 42,300 SH
JONES APPAREL GROUP, INC. COMMON 480074103 544,781 19,500 SH
KMART CORPORATION COMMON 482584109 3,443,200 204,800 SH
KN ENERGY, INC. COMMON 482620101 2,153,250 108,000 SH
KANSAS CITY SOUTHERN INDUSTRIE COMMON 485170104 4,560,000 80,000 SH
KAUFMAN & BROAD COMMON 486168107 139,888 6,200 SH
KEEBLER FOODS COMPANY COMMON 487256109 9,402,765 257,610 SH
KILROY RLTY CORP COM COMMON 49427F108 399,750 19,500 SH
KIMCO REALTY COMMON 49446R109 549,438 14,900 SH
KOHLS CORP COMMON 500255104 6,874,875 97,000 SH
LG&E ENERGY CORP. COMMON 501917108 3,354,981 161,200 SH
LAFARGE CORP. COMMON 505862102 1,117,200 39,900 SH
AAMAR ADVERTISING CO. COMMON 512815101 4,636,202 136,610 SH
LASALLE HOTEL PRPTS COMMON 517942108 1,571,450 118,600 SH
LEGATO SYSTEMS, INC. COMMON 524651106 7,212,013 139,700 SH
LEHMAN BROTHERS HOLDINGS, INC. COMMON 524908100 5,234,100 87,600 SH
LENNAR CORPORATION COMMON 526057104 1,364,875 61,000 SH
LEVEL ONE COMM INC. COMMON 527295109 3,160,625 65,000 SH
LIBERTY PROPY COMMON 531172104 381,800 18,400 SH
LIGAND PHARMCEUTICAL COMMON 53220K207 294,750 36,000 SH
LILLY (ELI),AND CO. COMMON 532457108 7,638,750 90,000 SH
LINCOLN NATIONAL CORP. COMMON 534187109 8,364,825 84,600 SH
LINEAR TECHNOLOGY CORP. COMMON 535678106 5,125,000 100,000 SH
LITHIA MOTORS, INC. COMMON 536797103 2,381,250 150,000 SH
LOEWS CORP. COMMON 540424108 1,134,300 15,200 SH
LONDON PACIFIC GROUP LTD ADR F.COM. ADR 542073101 289,750 19,000 SH
LONE STAR STEAKHOUSE COMMON 542307103 384,375 37,500 SH
LOUIS DREYFUS NATURAL GAS COM COMMON 546011107 4,178,029 288,140 SH
LOUISIANA-PACIFIC CORPORATION COMMON 546347105 622,075 33,400 SH
LOWE'S COMPANIES, INC. COMMON 548661107 4,918,650 81,300 SH
LUCENT TECHNOLOGIES, INC. COMMON 549463107 18,707,138 173,600 SH
WORLDCOM INC. COMMON 55268B106 174,921,617 1,975,121 SH
MDU RESOURCES GROUP, INC. COMMON 552690109 805,200 35,200 SH
MMC NETWORKS INC COM COMMON 55308N102 722,272 45,142 SH
MATAV RT F.COM. ADR 559776109 478,825 17,900 SH
MALLINCKRODT GROUP COMMON 561232109 50,588 1,900 SH
MANITOWOC CO INC COMMON 563571108 175,875 4,200 SH
MANUFACTURED HOME COM COMMON 564682102 252,000 10,500 SH
MARSH & MCLENNAN COS., INC. COMMON 571748102 8,376,125 112,900 SH
<CAPTION>
ITEM 1 ITEM 6 ITEM 7 ITEM 8
- ------ ------ ------ ------
VOTING AUTHORITY
----------------
INVESTMENT
DISCRETION SOLE SHARED
NAME OF ISSUER PUT/CALL SOLE (A) MANAGERS (A) (B)
-------------- -------- -------- -------- --- ---
<S> <C> <C> <C> <C> <C>
HEWLETT-PACKARD 11,000,000 1 11,000,000
HILLENBRAND INDUSTRIES, INC. 17,100 1 17,100
HOLLINGER INTL CL A 52,100 1 52,100
HOME DEPOT, INC. 2,337,500 1 2,337,500
HOME DEP CV 3.25% 10/01/01 2,250,000 1 2,250,000
HONEYWELL, INC. 27,900 1 27,900
HORACE MANN EDUCATORS CORP. 97,200 1 97,200
HOSPITALITY PROPERTIES TRUST 13,000 1 13,000
HOST MARRIOTT CORP 29,900 1 29,900
HUMANA, INC. 22,800 1 22,800
ICOS CORP. 47,000 1 47,000
ISS GROUP INC. 57,800 1 57,800
ITC DELTACOM, INC. 90,000 1 90,000
IDEXX LABORATORIES 8,600 1 8,600
ILLINOIS TOOL WORKS, INC. 12,700 1 12,700
INFINITY BROADCASTING INC. 125,000 1 125,000
INGERSOLL RAND CO. 74,900 1 74,900
INHALE THERAPE 90,000 1 90,000
INKTOMI CORP. 50,700 1 50,700
INTEL CORP. 2,012,570 1 2,012,570
INTERIM SERVICES INC 8,500 1 8,500
INTERNATIONAL BUSINESS MACHINE 1,149,670 1 1,149,670
INTERNATIONAL GAME TECHNOLOGY 10,500 1 10,500
INTERNATIONAL NETWORK SERVICES COM 53,666 1 53,666
INTL SPEEDWAY CORP. CL A 85,000 1 85,000
INTERPUBLIC GROUP OF COS.,INC. 45,000 1 45,000
INTERPUBLIC 1.80% CV 9/16/04 2,500,000 1 2,500,000
INTUIT INC 23,300 1 23,300
INVITROGEN CORP. 76,500 1 76,500
JABIL CIRCUIT 120,000 1 120,000
JEFFERIES GROUP INC 45,000 1 45,000
JOHNSON & JOHNSON 42,300 1 42,300
JONES APPAREL GROUP, INC. 19,500 1 19,500
KMART CORPORATION 204,800 1 204,800
KN ENERGY, INC. 108,000 1 108,000
KANSAS CITY SOUTHERN INDUSTRIE 80,000 1 80,000
KAUFMAN & BROAD 6,200 1 6,200
KEEBLER FOODS COMPANY 257,610 1 257,610
KILROY RLTY CORP COM 19,500 1 19,500
KIMCO REALTY 14,900 1 14,900
KOHLS CORP 97,000 1 97,000
LG&E ENERGY CORP. 161,200 1 161,200
LAFARGE CORP. 39,900 1 39,900
AAMAR ADVERTISING CO. 136,610 1 136,610
LASALLE HOTEL PRPTS 118,600 1 118,600
LEGATO SYSTEMS, INC. 139,700 1 139,700
LEHMAN BROTHERS HOLDINGS, INC. 87,600 1 87,600
LENNAR CORPORATION 61,000 1 61,000
LEVEL ONE COMM INC. 65,000 1 65,000
LIBERTY PROPY 18,400 1 18,400
LIGAND PHARMCEUTICAL 36,000 1 36,000
LILLY (ELI),AND CO. 90,000 1 90,000
LINCOLN NATIONAL CORP. 84,600 1 84,600
LINEAR TECHNOLOGY CORP. 100,000 1 100,000
LITHIA MOTORS, INC. 150,000 1 150,000
LOEWS CORP. 15,200 1 15,200
LONDON PACIFIC GROUP LTD ADR 19,000 1 19,000
LONE STAR STEAKHOUSE 37,500 1 37,500
LOUIS DREYFUS NATURAL GAS COM 288,140 1 288,140
LOUISIANA-PACIFIC CORPORATION 33,400 1 33,400
LOWE'S COMPANIES, INC. 81,300 1 81,300
LUCENT TECHNOLOGIES, INC. 173,600 1 173,600
WORLDCOM INC. 1,975,121 1 1,975,121
MDU RESOURCES GROUP, INC. 35,200 1 35,200
MMC NETWORKS INC COM 45,142 1 45,142
MATAV RT 17,900 1 17,900
MALLINCKRODT GROUP 1,900 1 1,900
MANITOWOC CO INC 4,200 1 4,200
MANUFACTURED HOME COM 10,500 1 10,500
MARSH & MCLENNAN COS., INC. 112,900 1 112,900
<PAGE>
<CAPTION>
ITEM 1 ITEM 2 ITEM 3 ITEM 4 ITEM 5
- ------ ------ ------ ------ ------
FAIR SHARES OR
TITLE OF CUSIP MARKET PRINCIPAL
NAME OF ISSUER CLASS NUMBER VALUE AMOUNT SH/PRN
-------------- ----- ------ ----- ------ ------
<S> <C> <C> <C> <C> <C>
MARSHALL & ILSLEY CORP. COMMON 571834100 2,217,500 40,000 SH
MASCO CORP. COMMON 574599106 943,550 33,400 SH
MASTECH CORP. COMMON 57632N105 1,950,000 150,000 SH
MATTEL, INC. COMMON 577081102 1,119,375 45,000 SH
MAXTOR CORP. COMMON 577729205 8,833,775 1,250,800 SH
MAXIMUS, INC. COMMON 577933104 3,262,000 112,000 SH
MAYTAG CORPORATION COMMON 578592107 205,275 3,400 SH
MCDERMOTT INTL. INC. COMMON 580037109 260,719 10,300 SH
MCDONALDS CORP. COMMON 580135101 2,084,375 46,000 SH
MCKESSON HBOC INC. COMMON 58155Q103 70,633,860 1,070,210 SH
MCLEOD, INC. COMMON 582266102 840,000 20,000 SH
MEADE INSTRUMENTS CORP. COMMON 583062104 903,125 85,000 SH
MEDIAONE GROUP COMMON 58440J104 1,397,000 22,000 SH
MEDICIS PHARMACEUTICAL-CL A COMMON 584690309 1,119,000 37,300 SH
MEDIMMUNE, INC. COMMON 584699102 6,806,563 115,000 SH
MELLON BANK CORP. COMMON 585509102 60,317,709 857,090 SH
THE MEN'S WEARHOUSE COMMON 587118100 883,575 30,600 SH
MERCK & CO.,INC. COMMON 589331107 10,608,619 132,300 SH
MERITOR AUTOMOTIVE, INC. COMMON 59000G100 221,650 14,300 SH
MERRILL LYNCH & CO., INC. COMMON 590188108 12,699,850 143,600 SH
METRIS COMPA COMMON 591598107 7,299,800 180,800 SH
METRONET COMM COMMON 59169Y108 1,650,000 30,000 SH
METRO NETWOR COMMON 591918107 4,730,000 86,000 SH
METTLER-TOLEDO INTL. COMMON 592688105 829,125 33,500 SH
METZLER GROUP COMMON 592903108 640,050 20,400 SH
FRED MEYER, INC. COMMON 592907109 152,271,945 2,586,360 SH
MICREL, INC. COMMON 594793101 6,858,563 137,000 SH
MICROSOFT CORP COMMON 594918104 387,180,000 4,320,000 SH
MICRON TECH COMMON 595112103 15,601,155 323,340 SH
S & P MID-CAP 400 DEPOSITARY R COMMON 595635103 3,987,309 58,050 SH
MINNESOTA POWER & LIGHT CO. COMMON 604110106 3,329,850 168,600 SH
MIRAGE RESORTS, INC. COMMON 60462E104 4,037,500 190,000 SH
MONSANTO CO. COMMON 611662107 2,012,063 43,800 SH
J.P. MORGAN & CO., INC. COMMON 616880100 4,786,950 38,800 SH
MORGAN STANLEY, DEAN WITTER, D COMMON 617446448 168,709,493 1,688,150 SH
MOTOROLA, INC. COMMON 620076109 7,671,473 104,730 SH
MYLAN LABORATORIES, INC. COMMON 628530107 53,900,146 1,964,470 SH
NCO GROUP INC COMMON 628858102 3,404,000 92,000 SH
NCR CORP. COMMON 62886E108 1,600,000 32,000 SH
NABORS IN CV 5%, 05/15/06 CV. BOND 629568AA4 4,221,588 3,705,000 PRN
NAKORNTHAI STRIP ML PUBLIC LTD WARRANT 629844119 47,482 4,748,195 SH
NATL AUSTRALIA BANK CONV CV. BOND 632525309 9,394 30,000 PRN
NATIONAL SEMICONDUCTOR COR COMMON 63764010 27,938 3,000 SH
NATIONAL SEMICON CV. BOND 637640AA1 1,606,313 1,950,000 PRN
NATIONAL SERVICES INDUSTRIES,I COMMON 637657107 211,188 6,200 SH
MCAFEE ASSOCIATES COMMON 640938106 761,050 24,800 SH
NEW CENTURY FINANCIAL COMMON 64352D101 106,875 9,000 SH
NEW CENTURY ENERGIES COMMON 64352U103 333,813 9,800 SH
NEW ERA OF N COMMON 644312100 3,387,500 50,000 SH
NEW YORK TIMES CO. CLASS A COMMON 650111107 256,500 9,000 SH
99 CENTS ONLY STORES COMMON 65440K106 6,822,889 160,775 SH
NORDSTROM, INC. COMMON 655664100 36,742,538 898,900 SH
NORTHERN STATES POWER CO. COMMON 665772109 1,203,431 51,900 SH
NORTHERN TELECOM LTD. (CANADA) F.COM. ADR 665815106 3,708,863 59,700 SH
NORTHERN TRUST CORP. COMMON 665859104 9,192,094 103,500 SH
NOVA CORP. COMMON 669784100 359,625 13,700 SH
NOVELL INC COMMON 670006105 47,659,788 1,892,200 SH
NOVELLUS SYSTEM COMMON 670008101 2,894,063 52,500 SH
OCULAR SCIENCES INC COMMON 675744106 11,463 400 SH
OFFICE DEPOT, INC. COMMON 676220106 890,863 24,200 SH
OF DEPOT CV 0% 11/1/08 CV. BOND 676220AB2 3,390,125 3,850,000 PRN
OGDEN CORP. COMMON 676346109 1,768,594 73,500 SH
OMNICARE INC. COMMON 681904108 573,781 30,100 SH
OMNICOM GROUP, INC. COMMON 681919106 3,860,983 48,300 SH
ONEMAIN.COM INC COMMON 68267P109 772,125 21,300 SH
ORACLE CORPORATION COMMON 68389X105 2,711,350 102,800 SH
ORTEL CORP. COMMON 68749W102 1,942,188 275,000 SH
OUTDOOR SYSTEMS, INC. COMMON 690057104 17,599,800 586,660 SH
OWENS CORNING COMMON 69073F103 817,581 25,700 SH
OXFORD HEALTH PLANS COMMON 691471106 471,875 30,200 SH
<CAPTION>
ITEM 1 ITEM 6 ITEM 7 ITEM 8
- ------ ------ ------ ------
VOTING AUTHORITY
----------------
INVESTMENT
DISCRETION SOLE SHARED
NAME OF ISSUER PUT/CALL SOLE (A) MANAGERS (A) (B)
-------------- -------- -------- -------- --- ---
<S> <C> <C> <C> <C> <C>
MARSHALL & ILSLEY CORP. 40,000 1 40,000
MASCO CORP. 33,400 1 33,400
MASTECH CORP. 150,000 1 150,000
MATTEL, INC. 45,000 1 45,000
MAXTOR CORP. 1,250,800 1 1,250,800
MAXIMUS, INC. 112,000 1 112,000
MAYTAG CORPORATION 3,400 1 3,400
MCDERMOTT INTL. INC. 10,300 1 10,300
MCDONALDS CORP. 46,000 1 46,000
MCKESSON HBOC INC. 1,070,210 1 1,070,210
MCLEOD, INC. 20,000 1 20,000
MEADE INSTRUMENTS CORP. 85,000 1 85,000
MEDIAONE GROUP 22,000 1 22,000
MEDICIS PHARMACEUTICAL-CL A 37,300 1 37,300
MEDIMMUNE, INC. 115,000 1 115,000
MELLON BANK CORP. 857,090 1 857,090
THE MEN'S WEARHOUSE 30,600 1 30,600
MERCK & CO.,INC. 132,300 1 132,300
MERITOR AUTOMOTIVE, INC. 14,300 1 14,300
MERRILL LYNCH & CO., INC. 143,600 1 143,600
METRIS COMPA 180,800 1 180,800
METRONET COMM 30,000 1 30,000
METRO NETWOR 86,000 1 86,000
METTLER-TOLEDO INTL. 33,500 1 33,500
METZLER GROUP 20,400 1 20,400
FRED MEYER, INC. 2,586,360 1 2,586,360
MICREL, INC. 137,000 1 137,000
MICROSOFT CORP 4,320,000 1 4,320,000
MICRON TECH 323,340 1 323,340
S & P MID-CAP 400 DEPOSITARY R 58,050 1 58,050
MINNESOTA POWER & LIGHT CO. 168,600 1 168,600
MIRAGE RESORTS, INC. 190,000 1 190,000
MONSANTO CO. 43,800 1 43,800
J.P. MORGAN & CO., INC. 38,800 1 38,800
MORGAN STANLEY, DEAN WITTER, D 1,688,150 1 1,688,150
MOTOROLA, INC. 104,730 1 104,730
MYLAN LABORATORIES, INC. 1,964,470 1 1,964,470
NCO GROUP INC 92,000 1 92,000
NCR CORP. 32,000 1 32,000
NABORS IN CV 5%, 05/15/06 3,705,000 1 3,705,000
NAKORNTHAI STRIP ML PUBLIC LTD 4,748,195 1 4,748,195
NATL AUSTRALIA BANK CONV 30,000 1 30,000
NATIONAL SEMICONDUCTOR COR 3,000 1 3,000
NATIONAL SEMICON 1,950,000 1 1,950,000
NATIONAL SERVICES INDUSTRIES,I 6,200 1 6,200
MCAFEE ASSOCIATES 24,800 1 24,800
NEW CENTURY FINANCIAL 9,000 1 9,000
NEW CENTURY ENERGIES 9,800 1 9,800
NEW ERA OF N 50,000 1 50,000
NEW YORK TIMES CO. CLASS A 9,000 1 9,000
99 CENTS ONLY STORES 160,775 1 160,775
NORDSTROM, INC. 898,900 1 898,900
NORTHERN STATES POWER CO. 51,900 1 51,900
NORTHERN TELECOM LTD. (CANADA) 59,700 1 59,700
NORTHERN TRUST CORP. 103,500 1 103,500
NOVA CORP. 13,700 1 13,700
NOVELL INC 1,892,200 1 1,892,200
NOVELLUS SYSTEM 52,500 1 52,500
OCULAR SCIENCES INC 400 1 400
OFFICE DEPOT, INC. 24,200 1 24,200
OF DEPOT CV 0% 11/1/08 3,850,000 1 3,850,000
OGDEN CORP. 73,500 1 73,500
OMNICARE INC. 30,100 1 30,100
OMNICOM GROUP, INC. 48,300 1 48,300
ONEMAIN.COM INC 21,300 1 21,300
ORACLE CORPORATION 102,800 1 102,800
ORTEL CORP. 275,000 1 275,000
OUTDOOR SYSTEMS, INC. 586,660 1 586,660
OWENS CORNING 25,700 1 25,700
OXFORD HEALTH PLANS 30,200 1 30,200
<PAGE>
<CAPTION>
ITEM 1 ITEM 2 ITEM 3 ITEM 4 ITEM 5
- ------ ------ ------ ------ ------
FAIR SHARES OR
TITLE OF CUSIP MARKET PRINCIPAL
NAME OF ISSUER CLASS NUMBER VALUE AMOUNT SH/PRN
-------------- ----- ------ ----- ------ ------
<S> <C> <C> <C> <C> <C>
PG&E CORP. COMMON 69331C108 509,425 16,400 SH
PXRE CORP COMMON 693674103 11,460,600 636,700 SH
PACCAR, INC. COMMON 693718108 597,219 14,500 SH
PACIFICARE HLTH SYS COMMON 695112201 2,279,550 33,400 SH
PAINE WEBBER GROUP I COMMON 695629105 2,791,250 70,000 SH
PATRIOT AMERICAN HOSPITALITY COM COMMON 703352203 208,480 40,679 SH
PAYCHEX, INC. COMMON 704326107 355,781 7,500 SH
PENTAIR INC. COMMON 709631105 708,750 21,000 SH
PEOPLESOFT INC COM COMMON 712713106 365,625 25,000 SH
PEPBOYS CV 0%, 9/20/11 CV. BOND 713278AJ8 6,157,500 12,025,000 PRN
PEPSI BOTTLING GROUP COMMON 713409100 542,188 25,000 SH
PEPSICO, INC. COMMON 713448108 194,307,300 4,958,400 SH
PEREGRINE SY COMMON 71366Q101 4,909,250 146,000 SH
INDONESIAN S F.COM. ADR 715680104 286,000 22,000 SH
PERVASIVE SOFTWARE COMMON 715710109 885,974 49,565 SH
PHARMACIA UPJOHN INC COMMON 716941109 5,195,838 83,300 SH
PHARMAPRINT INC. COMMON 716950100 607,725 65,700 SH
PFIZER INC COMMON 717081103 190,472,531 1,372,775 SH
PHILIP MORRIS COS., INC. COMMON 718154107 8,525,937 242,300 SH
PHILIPPINE LONG DISTANCE TELEP F.COM. ADR 718252604 567,875 22,000 SH
PINNACLE HLDGS + COMMON 72346N101 5,293,750 350,000 SH
PINNACLE WEST CAPITAL COMMON 723484101 72,750 2,000 SH
PITNEY BOWES INC COMMON 724479100 6,639,563 104,150 SH
PLACER DOME INC. F.COM. ADR 725906101 440,788 39,400 SH
POLARIS INDUSTRIES, INC. COMMON 731068102 603,250 19,000 SH
POST PPTYS INC COM COMMON 737464107 439,713 12,130 SH
PREMARK INTL., INC. COMMON 740459102 3,257,519 98,900 SH
PRICELINE.COM COMMON 741503106 381,225 4,600 SH
PROCTER & GAMBLE CO. COMMON 742718109 154,535,581 1,577,900 SH
PROLOGIS TRUST__COM COMMON 743410102 445,035 21,709 SH
PROVIDIAN FINANCIAL CORP. COMMON 74406A102 18,546,550 168,605 SH
PUGET SOUND ENERGY COMMON 745332106 774,900 33,600 SH
PULTE CORP. COMMON 745867101 401,681 19,300 SH
QUAKER OATS COMPANY COMMON 747402105 7,169,663 114,600 SH
QUALCOMM INC. COMMON 747525103 211,438 1,700 SH
QUICKSILVER COMMON 74838C106 802,750 19,000 SH
QWEST COMMUNICATIONS INTERNATI COMMON 749121109 10,453,594 145,000 SH
RFS HOTEL INVESTORS COMMON 74955J108 832,500 72,000 SH
RF MICRO DEVICES INC COMMON 749941100 8,937,213 93,400 SH
RAILTEX, INC. COMMON 750766107 398,125 35,000 SH
RATIONAL SOFTWARE COMMON 75409P202 1,600,736 59,700 SH
RAYTHEON CO. CLASS B COMMON 75511140 293,125 5,000 SH
RECKSON ASSOCIATES RLTY COM COMMON 75621K106 403,035 19,600 SH
RELIASTAR FINANCIAL CORP. COMMON 75952U103 34,752,163 815,300 SH
RESTORATION HARDWARE INC. COMMON 760981100 7,293,000 331,500 SH
REYNOLDS & REYNOLDS COMMON 761695105 125,400 6,600 SH
ROBERTS PHARMA. COMMON 770491108 749,075 36,100 SH
ROCKWELL INTERNATIONAL CORP. COMMON 773903109 2,308,600 54,400 SH
ROSS STORES INC COMMON 778296103 1,012,069 23,100 SH
ROYAL DUTCH PETROLEUM CO ADR N F.COM. ADR 780257804 2,626,000 50,500 SH
RUSH ENTERPRISES INC COMMON 781846100 67,500 6,000 SH
SBC COMMUNICATIONS, INC. COMMON 78387G103 100,504,400 2,132,710 SH
SFX ENTERTAINMENT W/I COMMON 784178105 10,628,279 164,620 SH
SL GREEN REALTY COM COMMON 78440X101 287,839 15,300 SH
SLM HOLDING CORP. COMMON 78442A109 2,375,575 56,900 SH
STANDARD & POORS DEPOSITORY RE COMMON 78462F103 19,275,000 150,000 SH
SAFEWAY, INC. COMMON 786514208 48,269,669 940,700 SH
ST. JUDE MEDICAL, INC. COMMON 790849103 73,125 3,000 SH
ST PAUL CAPITAL CONV CV. BOND 792856205 6,468 11,200 PRN
SANMINA CORP COMMON 800907107 5,100,000 80,000 SH
SAPIENT CORP. COMMON 803062108 3,211,875 45,000 SH
HENRY SCHEIN, INC. COMMON 806407102 3,787,500 150,000 SH
SCHERING PLOUGH CORP COMMON 806605101 150,687,306 2,724,300 SH
SCHLUMBERGER LTD. COMMON 806857108 37,117,631 616,700 SH
SCHWAB CHARLES CORP NEW COMMON 808513105 480,625 5,000 SH
SEAGATE TECHNOLOGY COMMON 811804103 1,176,588 39,800 SH
SEARS ROEBUCK & CO COMMON 812387108 1,052,869 23,300 SH
AMEX CONSUMER STAPLE COMMON 81369Y308 105,750 4,000 SH
AMEX ENERGY SELECT COMMON 81369Y506 371,250 15,000 SH
AMEX FINANCIAL COMMON 81369Y605 2,593,500 104,000 SH
<CAPTION>
ITEM 1 ITEM 6 ITEM 7 ITEM 8
- ------ ------ ------ ------
VOTING AUTHORITY
----------------
INVESTMENT
DISCRETION SOLE SHARED
NAME OF ISSUER PUT/CALL SOLE (A) MANAGERS (A) (B)
-------------- -------- -------- -------- --- ---
<S> <C> <C> <C> <C> <C>
PG&E CORP. 16,400 1 16,400
PXRE CORP 636,700 1 636,700
PACCAR, INC. 14,500 1 14,500
PACIFICARE HLTH SYS 33,400 1 33,400
PAINE WEBBER GROUP I 70,000 1 70,000
PATRIOT AMERICAN HOSPITALITY COM 40,679 1 40,679
PAYCHEX, INC. 7,500 1 7,500
PENTAIR INC. 21,000 1 21,000
PEOPLESOFT INC COM 25,000 1 25,000
PEPBOYS CV 0%, 9/20/11 12,025,000 1 12,025,000
PEPSI BOTTLING GROUP 25,000 1 25,000
PEPSICO, INC. 4,958,400 1 4,958,400
PEREGRINE SY 146,000 1 146,000
INDONESIAN S 22,000 1 22,000
PERVASIVE SOFTWARE 49,565 1 49,565
PHARMACIA UPJOHN INC 83,300 1 83,300
PHARMAPRINT INC. 65,700 1 65,700
PFIZER INC 1,372,775 1 1,372,775
PHILIP MORRIS COS., INC. 242,300 1 242,300
PHILIPPINE LONG DISTANCE TELEP 22,000 1 22,000
PINNACLE HLDGS + 350,000 1 350,000
PINNACLE WEST CAPITAL 2,000 1 2,000
PITNEY BOWES INC 104,150 1 104,150
PLACER DOME INC. 39,400 1 39,400
POLARIS INDUSTRIES, INC. 19,000 1 19,000
POST PPTYS INC COM 12,130 1 12,130
PREMARK INTL., INC. 98,900 1 98,900
PRICELINE.COM 4,600 1 4,600
PROCTER & GAMBLE CO. 1,577,900 1 1,577,900
PROLOGIS TRUST__COM 21,709 1 21,709
PROVIDIAN FINANCIAL CORP. 168,605 1 168,605
PUGET SOUND ENERGY 33,600 1 33,600
PULTE CORP. 19,300 1 19,300
QUAKER OATS COMPANY 114,600 1 114,600
QUALCOMM INC. 1,700 1 1,700
QUICKSILVER 19,000 1 19,000
QWEST COMMUNICATIONS INTERNATI 145,000 1 145,000
RFS HOTEL INVESTORS 72,000 1 72,000
RF MICRO DEVICES INC 93,400 1 93,400
RAILTEX, INC. 35,000 1 35,000
RATIONAL SOFTWARE 59,700 1 59,700
RAYTHEON CO. CLASS B 5,000 1 5,000
RECKSON ASSOCIATES RLTY COM 19,600 1 19,600
RELIASTAR FINANCIAL CORP. 815,300 1 815,300
RESTORATION HARDWARE INC. 331,500 1 331,500
REYNOLDS & REYNOLDS 6,600 1 6,600
ROBERTS PHARMA. 36,100 1 36,100
ROCKWELL INTERNATIONAL CORP. 54,400 1 54,400
ROSS STORES INC 23,100 1 23,100
ROYAL DUTCH PETROLEUM CO ADR N 50,500 1 50,500
RUSH ENTERPRISES INC 6,000 1 6,000
SBC COMMUNICATIONS, INC. 2,132,710 1 2,132,710
SFX ENTERTAINMENT W/I 164,620 1 164,620
SL GREEN REALTY COM 15,300 1 15,300
SLM HOLDING CORP. 56,900 1 56,900
STANDARD & POORS DEPOSITORY RE 150,000 1 150,000
SAFEWAY, INC. 940,700 1 940,700
ST. JUDE MEDICAL, INC. 3,000 1 3,000
ST PAUL CAPITAL CONV 11,200 1 11,200
SANMINA CORP 80,000 1 80,000
SAPIENT CORP. 45,000 1 45,000
HENRY SCHEIN, INC. 150,000 1 150,000
SCHERING PLOUGH CORP 2,724,300 1 2,724,300
SCHLUMBERGER LTD. 616,700 1 616,700
SCHWAB CHARLES CORP NEW 5,000 1 5,000
SEAGATE TECHNOLOGY 39,800 1 39,800
SEARS ROEBUCK & CO 23,300 1 23,300
AMEX CONSUMER STAPLE 4,000 1 4,000
AMEX ENERGY SELECT 15,000 1 15,000
AMEX FINANCIAL 104,000 1 104,000
<PAGE>
<CAPTION>
ITEM 1 ITEM 2 ITEM 3 ITEM 4 ITEM 5
- ------ ------ ------ ------ ------
FAIR SHARES OR
TITLE OF CUSIP MARKET PRINCIPAL
NAME OF ISSUER CLASS NUMBER VALUE AMOUNT SH/PRN
-------------- ----- ------ ----- ------ ------
<S> <C> <C> <C> <C> <C>
SELECTIVE INSURANCE GROUP, INC COMMON 816300107 449,438 25,500 SH
SEMPRA ENERGY COMMON 816851109 2,066,494 107,700 SH
SEPRACOR INC. COMMON 817315104 5,601,275 49,900 SH
SERVICEMASTER COMMON 81760N109 35,331,563 1,739,400 SH
SUOA 5.03 4/1/99 COMMON 82263KR1 135,000 135,000 SH
SHERWIN-WILLIAMS COMPANY COMMON 824348106 379,688 13,500 SH
SIMON DEBARTOLO GROUP, INC. COMMON 828806109 1,220,982 44,500 SH
SKYWEST INC COMMON 830879102 404,250 14,000 SH
SMART & FINAL INC. COMMON 831683107 2,578,125 275,000 SH
SMART MODULAR TECHNOLOGIES COMMON 831690102 1,259,231 84,300 SH
SMITH CHARLES E RES REALTY COM COMMON 832197107 289,642 9,400 SH
SNYDER COMMUNICATIONS, INC. COMMON 832914105 117,075 4,200 SH
SOLECTRON COMMON 834182107 971,250 20,000 SH
SONIC AUTOMOTIVE, INC. COMMON 83545G102 5,634,250 363,500 SH
SOUTHDOWN INC. COMMON 841297104 633,513 11,800 SH
SOUTHERN CO. COMMON 84258710 139,875 6,000 SH
SOUTHWEST GAS CORP COMMON 844895102 3,206,500 116,600 SH
SPIEKER PPTYS INC COM COMMON 848497103 222,075 6,300 SH
SPLASH TECHNOLOGY HOLDINGS COM COMMON 848623104 195,592 32,260 SH
STAPLES, INC. COMMON 855030102 118,652,450 3,609,200 SH
STARWOOD HOTELS & RESORTS COM COMMON 855905204 - 12,750 SH
STERLING COMMERCE COMMON 859205106 31 1 SH
STERLING SOFTWARE, INC. COMMON 859547101 809,875 34,100 SH
STILLWATER CV.7%, 5/01/03 CV. BOND 86074QAC6 4,060,000 2,800,000 PRN
STORAGE TR RLTY COM COMMON 861909109 333,900 14,400 SH
STRIDE RITE COMMON 863314100 530,425 43,300 SH
SULLIVAN HOLDINGS, INC. CLASS COMMON 865303101 - 76 SH
SUMMIT TECH COMMON 86627E101 643,500 58,500 SH
SUN COMMUNITIES COM COMMON 866674104 412,750 13,000 SH
SUN MICROSYSTEMS, INC. COMMON 866810104 120,167,386 961,820 SH
SUNOCO INC. COMMON 86764P109 1,081,875 30,000 SH
SUNSTONE HOTEL INVESTORS COMMON 867933103 1,121,250 156,000 SH
SUPERVALU COMMON 868536103 435,188 21,100 SH
SYNOPSYS INC. COMMON 871607107 892,250 16,600 SH
TJX CO., INC. COMMON 872540109 16,015,700 471,050 SH
TALBOTS COMMON 874161102 577,688 23,700 SH
TANDY CORP. COMMON 875382103 43,379,738 679,800 SH
TAUBMAN CTRS INC COM COMMON 876664103 279,300 22,800 SH
TECUMSEH PRODUCTS CO. COMMON 878895200 397,313 7,800 SH
TELE CENTRO SUL PARTICIPACOES F.COM. ADR 879239101 300,219 6,500 SH
TELENORTE LESTE PART ADR F.COM. ADR 879246106 522,750 34,000 SH
TELE SUDESTE CULULAR PART ADR F.COM. ADR 879252104 344,250 17,000 SH
TELECOM ARGENTINA SA ADR F.COM. ADR 879273209 175,600 6,400 SH
TELEFLEX INCORPORATED COMMON 879369106 194,156 5,700 SH
TELEFONOS DE MEXICO SA ADR F.COM. ADR 879403780 491,250 7,500 SH
TELESP PART. SA ADR F.COM. ADR 87952K100 433,125 21,000 SH
TELESP CELULAR PARTICIPACOES F.COM. ADR 87952L108 335,000 16,000 SH
TELLABS, INC. COMMON 879664100 92,754,975 948,900 SH
TERADYNE, INC COMMON 880770102 5,112,506 93,700 SH
TERAYON COMM COMMON 880775101 4,540,000 113,500 SH
TEXACO, INC. COMMON 881694103 1,066,900 18,800 SH
TEXAS INSTRUMENTS INC COMMON 882508104 10,759,693 108,410 SH
TEXAS UTILITIES CO. COMMON 882848104 8,085,363 193,900 SH
THERMO ELECT CV 4.25% '03 CV. BOND 883556AF9 4,932,125 5,550,000 PRN
THERMO TERRATECH INC CONV CV. BOND 883598AA2 210,000 250,000 PRN
3COM CORP. COMMON 885535104 615,450 26,400 SH
TIDEWATER INC. COMMON 886423102 382,950 14,800 SH
TIME WARNER, INC. COMMON 887315109 1,335,975 18,800 SH
TOLL BROTHERS, INC. COMMON 889478103 480,313 26,500 SH
TRANSOCEAN OFFSHORE, INC. COMMON 893817106 2,598,888 90,200 SH
TRANSWITCH CORP. COMMON 894065101 1,787,375 39,500 SH
TREDEGAR IND COMMON 894650100 1,537,594 49,700 SH
TRIGON HEALTHCARE COMMON 89618L100 1,116,550 32,600 SH
TUPPERWARE CORP. COMMON 899896104 2,368,800 131,600 SH
TYCO INTERNATIONAL LTD. COMMON 902124106 182,183,654 2,539,145 SH
TYSON FOODS INC. COMMON 902494103 227,563 11,000 SH
USX-US STEEL GROUP, INC. COMMON 90337T101 230,300 9,800 SH
ULTRAMAR COMMON 904000106 661,725 30,600 SH
UNILEVER NV F.COM. ADR 904784501 664,375 10,000 SH
UNION PACIFIC CORP COMMON 907818108 3,489,469 65,300 SH
<CAPTION>
ITEM 1 ITEM 6 ITEM 7 ITEM 8
- ------ ------ ------ ------
VOTING AUTHORITY
----------------
INVESTMENT
DISCRETION SOLE SHARED
NAME OF ISSUER PUT/CALL SOLE (A) MANAGERS (A) (B)
-------------- -------- -------- -------- --- ---
<S> <C> <C> <C> <C> <C>
SELECTIVE INSURANCE GROUP, INC 25,500 1 25,500
SEMPRA ENERGY 107,700 1 107,700
SEPRACOR INC. 49,900 1 49,900
SERVICEMASTER 1,739,400 1 1,739,400
SUOA 5.03 4/1/99 135,000 1 135,000
SHERWIN-WILLIAMS COMPANY 13,500 1 13,500
SIMON DEBARTOLO GROUP, INC. 44,500 1 44,500
SKYWEST INC 14,000 1 14,000
SMART & FINAL INC. 275,000 1 275,000
SMART MODULAR TECHNOLOGIES 84,300 1 84,300
SMITH CHARLES E RES REALTY COM 9,400 1 9,400
SNYDER COMMUNICATIONS, INC. 4,200 1 4,200
SOLECTRON 20,000 1 20,000
SONIC AUTOMOTIVE, INC. 363,500 1 363,500
SOUTHDOWN INC. 11,800 1 11,800
SOUTHERN CO. 6,000 1 6,000
SOUTHWEST GAS CORP 116,600 1 116,600
SPIEKER PPTYS INC COM 6,300 1 6,300
SPLASH TECHNOLOGY HOLDINGS COM 32,260 1 32,260
STAPLES, INC. 3,609,200 1 3,609,200
STARWOOD HOTELS & RESORTS COM 12,750 1 12,750
STERLING COMMERCE 1 1 1
STERLING SOFTWARE, INC. 34,100 1 34,100
STILLWATER CV.7%, 5/01/03 2,800,000 1 2,800,000
STORAGE TR RLTY COM 14,400 1 14,400
STRIDE RITE 43,300 1 43,300
SULLIVAN HOLDINGS, INC. CLASS 76 1 76
SUMMIT TECH 58,500 1 58,500
SUN COMMUNITIES COM 13,000 1 13,000
SUN MICROSYSTEMS, INC. 961,820 1 961,820
SUNOCO INC. 30,000 1 30,000
SUNSTONE HOTEL INVESTORS 156,000 1 156,000
SUPERVALU 21,100 1 21,100
SYNOPSYS INC. 16,600 1 16,600
TJX CO., INC. 471,050 1 471,050
TALBOTS 23,700 1 23,700
TANDY CORP. 679,800 1 679,800
TAUBMAN CTRS INC COM 22,800 1 22,800
TECUMSEH PRODUCTS CO. 7,800 1 7,800
TELE CENTRO SUL PARTICIPACOES 6,500 1 6,500
TELENORTE LESTE PART ADR 34,000 1 34,000
TELE SUDESTE CULULAR PART ADR 17,000 1 17,000
TELECOM ARGENTINA SA ADR 6,400 1 6,400
TELEFLEX INCORPORATED 5,700 1 5,700
TELEFONOS DE MEXICO SA ADR 7,500 1 7,500
TELESP PART. SA ADR 21,000 1 21,000
TELESP CELULAR PARTICIPACOES 16,000 1 16,000
TELLABS, INC. 948,900 1 948,900
TERADYNE, INC 93,700 1 93,700
TERAYON COMM 113,500 1 113,500
TEXACO, INC. 18,800 1 18,800
TEXAS INSTRUMENTS INC 108,410 1 108,410
TEXAS UTILITIES CO. 193,900 1 193,900
THERMO ELECT CV 4.25% '03 5,550,000 1 5,550,000
THERMO TERRATECH INC CONV 250,000 1 250,000
3COM CORP. 26,400 1 26,400
TIDEWATER INC. 14,800 1 14,800
TIME WARNER, INC. 18,800 1 18,800
TOLL BROTHERS, INC. 26,500 1 26,500
TRANSOCEAN OFFSHORE, INC. 90,200 1 90,200
TRANSWITCH CORP. 39,500 1 39,500
TREDEGAR IND 49,700 1 49,700
TRIGON HEALTHCARE 32,600 1 32,600
TUPPERWARE CORP. 131,600 1 131,600
TYCO INTERNATIONAL LTD. 2,539,145 1 2,539,145
TYSON FOODS INC. 11,000 1 11,000
USX-US STEEL GROUP, INC. 9,800 1 9,800
ULTRAMAR 30,600 1 30,600
UNILEVER NV 10,000 1 10,000
UNION PACIFIC CORP 65,300 1 65,300
<PAGE>
<CAPTION>
ITEM 1 ITEM 2 ITEM 3 ITEM 4 ITEM 5
- ------ ------ ------ ------ ------
FAIR SHARES OR
TITLE OF CUSIP MARKET PRINCIPAL
NAME OF ISSUER CLASS NUMBER VALUE AMOUNT SH/PRN
-------------- ----- ------ ----- ------ ------
<S> <C> <C> <C> <C> <C>
UNIONBANCAL CORPORATION COMMON 908906100 13,557,901 398,030 SH
UNIPHASE CORP. COMMON 909149106 15,406,028 133,820 SH
UNISYS CORP COMMON 909214108 2,500,181 90,300 SH
UNITED RENTALS COMMON 911363109 10,944,000 384,000 SH
U.S. CELLULAR 0%, 6/15/15 CV. BOND 911684AA6 2,730,000 6,000,000 PRN
U.S. FILTER CORP COMMON 911843209 1,316,875 43,000 SH
U S WEST INC COMMON 91273H101 4,239,816 77,000 SH
US TRUST COMMON 91288L105 682,525 9,200 SH
UNITED TECHNOLOGIES COMMON 913017109 23,123,248 170,730 SH
UNIVERSAL CORPORATION COMMON 913456109 1,247,450 48,800 SH
UNIVISION COMMUNICATIONS, INC. COMMON 914906102 5,250,000 105,000 SH
UNOCAL CORP COMMON 915289102 1,472,500 40,000 SH
USWEB CORP. COMMON 917327108 8,881,950 215,320 SH
UTILICORP UNITED, INC. DEL. COMMON 918005109 9,668,750 425,000 SH
VF CORP. COMMON 918204108 2,600,031 55,100 SH
VALASSIS COMMUNICATIONS, INC. COMMON 918866104 1,599,075 30,900 SH
VALLEY MEDIA COMMON 91972C106 1,069,250 47,000 SH
VARCO INTERNATIONAL, INC. COMMON 922126107 989,013 88,900 SH
VERIO INC COMMON 923433106 7,341,486 159,165 SH
VERITAS SOFTWARE CO COMMON 923436109 13,295,488 164,650 SH
VERISIGN INC COMMON 92343E102 1,878,800 12,200 SH
VIACOM, INC. CLASS B COMMON 925524308 3,743,613 44,600 SH
VIAD CORP. COMMON 92552R109 2,110,969 75,900 SH
VIGNETTE CORP. COMMON 926734104 1,091,125 14,500 SH
VITESSE SEMICONDUCTOR INC. COMMON 928497106 4,161,375 82,200 SH
VORNADO RLTY TR COM COMMON 929042109 531,300 15,400 SH
VULCAN MATERIALS CO. COMMON 929160109 4,176,694 101,100 SH
WMX TECH CV 2%, 1/24/05 CV. BOND 92929QAF4 5,626,819 5,835,000 PRN
WACKENHUT CORP. CL A COMMON 929794105 729,800 32,800 SH
WAL-MART STORES, INC. COMMON 931142103 187,195,942 2,030,600 SH
WARNER-LAMBERT CO. COMMON 934488107 7,611,925 115,000 SH
WASHINGTON FEDERAL, INC. COMMON 938824109 1,051,050 50,050 SH
WASHINGTON MUTUAL, INC. COMMON 939322103 801,150 19,600 SH
WASTE MANAGEMENT INC. COMMON 94106L109 142,417,125 3,209,400 SH
WASTE MANGEMENT CV. 4%, 2/1/02 CV. BOND 94106LAA7 3,107,125 2,650,000 PRN
WELLPOINT HEALTH NETWORKS COMMON 94973H108 1,372,206 18,100 SH
WELLS FARGO CO. COMMON 949746101 169,530,694 4,835,100 SH
WHIRLPOOL CORP COMMON 963320106 619,875 11,400 SH
WHITMAN CORP COMMON 96647K102 5,393,781 313,820 SH
WHITMAN-HART INC. COMMON 966834103 5,951,200 276,800 SH
WHOLE FOODS MARKET, INC. COMMON 966837106 7,253,125 211,000 SH
WINSTAR COMMUNICATIONS, INC. COMMON 975515107 6,069,406 167,000 SH
WORLD COLOR PRESS INC. COMMON 981443104 380,375 17,900 SH
XILINX, INC. COMMON 983919101 20,763,133 511,880 SH
XIRCOM INC COMMON 983922105 25,125 1,000 SH
YPF SOCIEDAD ANONIMA ADR F.COM. ADR 984245100 321,938 10,200 SH
YAHOO! INC. COMMON 984332106 40,073,250 238,000 SH
YORK INTERNATIONAL COMMON 986670107 939,313 26,600 SH
ZALE CORP. COMMON 988858106 803,406 23,500 SH
ZIFF-DAVIS, INC.-ZDNET COMMON 989511209 360,000 10,000 SH
LERNOUT & HAUSPIE SPEECH PRODU F.COM. ADR B5628B104 1,908,000 63,600 SH
ANNUITY AND LIFE REINSURANCE COMMON G03910109 4,177,204 182,610 SH
FRESH DELMONTE PRODUCE, INC. COMMON G36738105 605,138 32,600 SH
GLOBAL CROSSING LTD. F.COM. ADR G3921A100 2,775,000 60,000 SH
IRIDIUM WORLD COMM F.COM. ADR G49398103 37,813 2,500 SH
RENAISSANCERE HOLDINGS F.COM. ADR G7496G103 559,000 16,000 SH
HILFIGER TOMMY CORP COMMON G8915Z102 743,850 10,800 SH
QIAGEN N.V. COMMON N72482107 2,575,125 37,800 SH
J R MCDERMOTT COMMON P64658100 929,113 31,100 SH
ROYAL CARIBBEAN CRUISES COMMON V7780T103 1,571,700 40,300 SH
FLEXTRONICS INTERNATIONAL LTD COMMON Y2573F102 4,590,000 90,000 SH
TOTAL 9,088,765,404
<CAPTION>
ITEM 1 ITEM 6 ITEM 7 ITEM 8
- ------ ------ ------ ------
VOTING AUTHORITY
----------------
INVESTMENT
DISCRETION SOLE SHARED
NAME OF ISSUER PUT/CALL SOLE (A) MANAGERS (A) (B)
-------------- -------- -------- -------- --- ---
<S> <C> <C> <C> <C> <C>
UNIONBANCAL CORPORATION 398,030 1 398,030
UNIPHASE CORP. 133,820 1 133,820
UNISYS CORP 90,300 1 90,300
UNITED RENTALS 384,000 1 384,000
U.S. CELLULAR 0%, 6/15/15 6,000,000 1 6,000,000
U.S. FILTER CORP 43,000 1 43,000
U S WEST INC 77,000 1 77,000
US TRUST 9,200 1 9,200
UNITED TECHNOLOGIES 170,730 1 170,730
UNIVERSAL CORPORATION 48,800 1 48,800
UNIVISION COMMUNICATIONS, INC. 105,000 1 105,000
UNOCAL CORP 40,000 1 40,000
USWEB CORP. 215,320 1 215,320
UTILICORP UNITED, INC. DEL. 425,000 1 425,000
VF CORP. 55,100 1 55,100
VALASSIS COMMUNICATIONS, INC. 30,900 1 30,900
VALLEY MEDIA 47,000 1 47,000
VARCO INTERNATIONAL, INC. 88,900 1 88,900
VERIO INC 159,165 1 159,165
VERITAS SOFTWARE CO 164,650 1 164,650
VERISIGN INC 12,200 1 12,200
VIACOM, INC. CLASS B 44,600 1 44,600
VIAD CORP. 75,900 1 75,900
VIGNETTE CORP. 14,500 1 14,500
VITESSE SEMICONDUCTOR INC. 82,200 1 82,200
VORNADO RLTY TR COM 15,400 1 15,400
VULCAN MATERIALS CO. 101,100 1 101,100
WMX TECH CV 2%, 1/24/05 5,835,000 1 5,835,000
WACKENHUT CORP. CL A 32,800 1 32,800
WAL-MART STORES, INC. 2,030,600 1 2,030,600
WARNER-LAMBERT CO. 115,000 1 115,000
WASHINGTON FEDERAL, INC. 50,050 1 50,050
WASHINGTON MUTUAL, INC. 19,600 1 19,600
WASTE MANAGEMENT INC. 3,209,400 1 3,209,400
WASTE MANGEMENT CV. 4%, 2/1/02 2,650,000 1 2,650,000
WELLPOINT HEALTH NETWORKS 18,100 1 18,100
WELLS FARGO CO. 4,835,100 1 4,835,100
WHIRLPOOL CORP 11,400 1 11,400
WHITMAN CORP 313,820 1 313,820
WHITMAN-HART INC. 276,800 1 276,800
WHOLE FOODS MARKET, INC. 211,000 1 211,000
WINSTAR COMMUNICATIONS, INC. 167,000 1 167,000
WORLD COLOR PRESS INC. 17,900 1 17,900
XILINX, INC. 511,880 1 511,880
XIRCOM INC 1,000 1 1,000
YPF SOCIEDAD ANONIMA ADR 10,200 1 10,200
YAHOO! INC. 238,000 1 238,000
YORK INTERNATIONAL 26,600 1 26,600
ZALE CORP. 23,500 1 23,500
ZIFF-DAVIS, INC.-ZDNET 10,000 1 10,000
LERNOUT & HAUSPIE SPEECH PRODU 63,600 1 63,600
ANNUITY AND LIFE REINSURANCE 182,610 1 182,610
FRESH DELMONTE PRODUCE, INC. 32,600 1 32,600
GLOBAL CROSSING LTD. 60,000 1 60,000
IRIDIUM WORLD COMM 2,500 1 2,500
RENAISSANCERE HOLDINGS 16,000 1 16,000
HILFIGER TOMMY CORP 10,800 1 10,800
QIAGEN N.V. 37,800 1 37,800
J R MCDERMOTT 31,100 1 31,100
ROYAL CARIBBEAN CRUISES 40,300 1 40,300
FLEXTRONICS INTERNATIONAL LTD 90,000 1 90,000
TOTAL
</TABLE>
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