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Previous: BEST POWER TECHNOLOGY INC, S-8 POS, 1995-08-14 |
Next: FRANCHISE FINANCE CORP OF AMERICA, 10-Q, 1995-08-14 |
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<PAGE> PAGE 1
SECURITIES AND EXCHANGE COMMISSION
FORM 13F-E
Report for the Calendar Year or Quarter Ended: 06/30/95
Institutional Investment Manager:
SECURITIES MANAGEMENT AND RESEARCH, INC.
ONE MOODY PLAZA
GALVESTON TX 77550
I REPRESENT THAT I AM AUTHORIZED TO SUBMIT THIS FORM AND THAT ALL
INFORMATION IN THIS FORM AND THE ATTACHMENTS TO IT IS TRUE, CORRECT AND
COMPLETE AND I UNDERSTAND THAT ALL REQUIRED ITEMS, STATEMENTS AND SCHEDULES
ARE INTEGRAL PARTS OF THIS FORM AND THAT THE SUBMISSION OF ANY AMENDMENT
REPRESENTS THAT ALL UNAMENDED ITEMS, STATEMENTS AND SCHEDULES REMAIN TRUE,
CORRECT COMPLETE AS PREVIOUSLY SUBMITTED.
I AM SIGNING THIS REPORT AS REQUIRED BY THE SECURITIES EXCHANGE ACT OF 1934.
Name, Title and Telephone Number of Person Submitting Report:
BRENDA T. KOELEMAY VICE PRESIDENT/TREASURER 409-763-2767
Signature, Place and Date of Signing:
/s/ BRENDA T. KOELEMAY GALVESTON TX 08/08/95
Other Managers on Whose Behalf this Report is Filed:
01 AMERICAN NATIONAL INSURANCE CO.
<PAGE> PAGE 2
VALUE SHARES/ SH/ PUT/ INVSTMT -----VOTING AUTHORITY-----
NAME OF ISSUER -TITLE OF CLASS- --CUSIP-- (x$1000) PRN AMT PRN CALL DSCRETN -MANAGERS- SOLE SHARED NONE
ADT LTD COM NEW 000915306 7485 637000 SH DEFINED 01 637000
AIR PRODS & CHEMS INC COM 009158106 1673 30000 SH DEFINED 01 30000
AMERICAN HOME PRODS CORP COM 026609107 20504 265000 SH DEFINED 01 265000
AMERICAN TELEPH & TELEGRAPH COM 001957109 15185 286500 SH DEFINED 01 286500
AMGEN INC COM 031162100 6314 105000 SH DEFINED 01 105000
AMOCO CORP COM 031905102 17989 270000 SH DEFINED 01 270000
ARVIN INDS INC COM 043339100 3200 143000 SH DEFINED 01 143000
ASHLAND OIL COM 044540102 6358 181000 SH DEFINED 01 181000
AVNET INC COM 053807103 20748 430000 SH DEFINED 01 430000
BLACK & DECKER CORP COM 091797100 10034 325000 SH DEFINED 01 325000
BRISTOL MYERS SQUIBB CO COM 110122108 14919 219000 SH DEFINED 01 219000
BURLINGTON COM 121897102 8429 133000 SH DEFINED 01 133000
CRYSLER CORP. COM 171196108 3974 83000 SH DEFINED 01 83000
COMPAQ COMPUTER CORP COM 204493100 4525 100000 SH DEFINED 01 100000
COOPER INDS INC COM 216669101 5925 150000 SH DEFINED 01 150000
COTT CORPORATION COM 22163N106 4947 421000 SH DEFINED 01 421000
CYPRUS AMAX MINERALS CO COM 232809103 7570 265600 SH DEFINED 01 265600
DEAN WITTER DISCOVER COM 24240V101 8018 170600 SH DEFINED 01 170600
DETROIT EDISON CO COM 250847100 885 30000 SH DEFINED 01 30000
DILLARD DEPT STORES INC CL A 254063100 10311 351000 SH DEFINED 01 351000
DOW CHEM CO COM 260543103 548 7625 SH DEFINED 01 7625
DU PONT E I DE NEMOURS & CO COM 263534109 14231 207000 SH DEFINED 01 207000
DUN & BRADSTREET CORP COM 264830100 14175 270000 SH DEFINED 01 270000
EASTMAN CHEM CO COM 277432100 3273 55000 SH DEFINED 01 55000
EASTMAN KODAK CO COM 277461109 13338 220000 SH DEFINED 01 220000
EMERSON ELEC CO COM 291011104 21093 295000 SH DEFINED 01 295000
FLUOR DANIEL COM 343861100 6895 132600 SH DEFINED 01 132600
FORD MOTORS COM 345370100 2559 86000 SH DEFINED 01 86000
FOSTER WHEELER CORP COM 350244109 13395 380000 SH DEFINED 01 380000
GANNETT INC COM 364730101 10850 200000 SH DEFINED 01 200000
GENERAL ELEC CO COM 369604103 24129 428000 SH DEFINED 01 428000
GENERAL MTRS CORP CL E 370442402 9666 222200 SH DEFINED 01 222200
GENERAL MOTORS COM 370442402 2517 53700 SH DEFINED 01 53700
GTE CORP COM 362320103 8361 245000 SH DEFINED 01 245000
GUILFORD MLS INC COM 401794102 6523 267600 SH DEFINED 01 267600
HEINZ H J CO COM 423074103 11981 270000 SH DEFINED 01 270000
HEWLETT PACKARD CO COM 428236103 14900 200000 SH DEFINED 01 200000
HONEYWELL INC COM 438506107 17466 405000 SH DEFINED 01 405000
INTERNATIONAL BUSINESS MACHS COM 459200101 12768 133000 SH DEFINED 01 133000
IONICS COM 462218108 5845 168200 SH DEFINED 01 168200
JOHNSON & JOHNSON COM 478160104 6750 100000 SH DEFINED 01 100000
KIMBERLY CLARK CORP COM 494368103 7951 132800 SH DEFINED 01 132800
LIMITED INC COM 532716107 220 10000 SH DEFINED 01 10000
LOUISIANA PAC CORP COM 546347105 4232 162000 SH DEFINED 01 162000
MASCO CORPORATION COM 574599106 7196 266500 SH DEFINED 01 266500
MALLINCKRODT GROUP COM 561226101 14406 405800 SH DEFINED 01 405800
MCCORMICK & CO COM 579780206 6418 298500 SH DEFINED 01 298500
MERCK & CO INC COM 589331107 22106 450000 SH DEFINED 01 450000
MORGAN J P & CO INC COM 616880100 11641 166000 SH DEFINED 01 166000
NATIONSBANK COM 638585109 3647 68000 SH DEFINED 01 68000
<PAGE> PAGE 3
VALUE SHARES/ SH/ PUT/ INVSTMT -----VOTING AUTHORITY-----
NAME OF ISSUER -TITLE OF CLASS- --CUSIP-- (x$1000) PRN AMT PRN CALL DSCRETN -MANAGERS- SOLE SHARED NONE
PALL CORP COM 696429307 541 375900 SH DEFINED 01 375900
PEPSICO INC COM 713448108 22750 500000 SH DEFINED 01 500000
PFIZER INC COM 717081103 19531 212000 SH DEFINED 01 212000
PROCTER & GAMBLE CO COM 742718109 15884 221000 SH DEFINED 01 221000
QUAKER OATS CO COM 747402105 979 30000 SH DEFINED 01 30000
SAFETY KLEEN CORP COM 786484105 10610 658000 SH DEFINED 01 658000
SCHERING PLOUGH CORP COM 806605101 22063 500000 SH DEFINED 01 500000
SINGER CO N V COM 82930F109 6713 260700 SH DEFINED 01 260700
SOCIETE NATIONALE ELF AQUITAIN SPONSORED ADR 833658404 12896 346200 SH DEFINED 01 346200
SONAT COM 835415100 6832 224000 SH DEFINED 01 224000
TEXACO INC COM 881694103 3163 48200 SH DEFINED 01 48200
TOYS R US COM 892335100 7898 270000 SH DEFINED 01 270000
U S WEST INC COM 912889102 10989 264000 SH DEFINED 01 264000
UNITED HEALTH CARE COM 910581107 7017 169600 SH DEFINED 01 169600
UNIVERSAL FOODS COM 913538104 6384 197200 SH DEFINED 01 197200
UNOCAL CORP COM 915289102 3083 111600 SH DEFINED 01 111600
WMX TECHNOLOGIES INC COM 92929Q107 12201 430000 SH DEFINED 01 430000
WAL MART STORES INC COM 931142103 9496 355000 SH DEFINED 01 355000
WARNER LAMBERT CO COM 934488107 14079 163000 SH DEFINED 01 163000
WEYERHAEUSER CO COM 962166104 7757 164600 SH DEFINED 01 164600
WHEELABRATOR TECHNOLOGIES COM 962901302 3459 225000 SH DEFINED 01 225000
WILLAMETTE INDS INC COM 969133107 971 17500 SH DEFINED 01 17500
ADT LTD COM NEW 000915306 321 27300 SH SOLE 27300
ABBOTT LABS COM 002824100 867 21400 SH SOLE 21400
AIR PRODUCTS AND CHEMICALS INC COM 009158106 424 7600 SH SOLE 7600
AMERICAN TEL & TELEG CO COM 001957109 652 12300 SH SOLE 12300
AMGEN COM 031162100 249 3100 SH SOLE 3100
AMOCO CORP COM 031905102 666 10000 SH SOLE 10000
ARVIN INDS INC COM 043339100 342 15300 SH SOLE 15300
ASHLAND OIL COM 044540102 302 8600 SH SOLE 8600
ATLANTIC RICHFIELD COM 048825103 209 1900 SH SOLE 1900
AVNET INC COM 053807103 309 6400 SH SOLE 6400
BAY NETWORKS INC COM 072510100 264 6368 SH SOLE 6368
BMC SOFTWARE COM 055921100 239 3100 SH SOLE 3100
BRISTOL MYERS SQUIBB CO COM 110122108 422 6200 SH SOLE 6200
CABOT CORP COM 127055101 322 6100 SH SOLE 6100
CALDOR CORP COM 128787108 186 10400 SH SOLE 10400
CHEVRON CORPORATION COM 166751107 515 11100 SH SOLE 11100
COMERICA INC. COM 200340107 418 13000 SH SOLE 13000
COTT CORPORATION COM 22163N106 130 11100 SH SOLE 11100
CYPRESS MINERALS COM 232809103 257 9000 SH SOLE 9000
DEAN WITTER DISCOVER COM 24240V101 428 9100 SH SOLE 9100
DU PONT E I DE NEMOURS & CO COM 263534109 1011 14700 SH SOLE 14700
DUN & BRADSTREET COM 264830100 263 5000 SH SOLE 5000
DURIRON INC COM 266849108 401 17800 SH SOLE 17800
EASTMAN KODAK COM 277461109 473 7800 SH SOLE 7800
EMERSON ELECTRIC COM 291011104 443 6200 SH SOLE 6200
ETHYL CORP COM 279659104 284 26700 SH SOLE 26700
FLUOR CORP COM 343861100 837 16100 SH SOLE 16100
FORD MOTORS COM 345370100 262 8800 SH SOLE 8800
<PAGE> PAGE 4
VALUE SHARES/ SH/ PUT/ INVSTMT -----VOTING AUTHORITY-----
NAME OF ISSUER -TITLE OF CLASS- --CUSIP-- (x$1000) PRN AMT PRN CALL DSCRETN -MANAGERS- SOLE SHARED NONE
FOSTER WHEELER CORP COM 350244109 370 10500 SH SOLE 10500
GTE CORP COM 362320103 334 9800 SH SOLE 9800
THE GAP COM 364760108 293 8400 SH SOLE 8400
GENERAL ELEC CO COM 369604103 772 13700 SH SOLE 13700
GENERAL MOTORS INC COM 370442105 319 6800 SH SOLE 6800
GENERAL MTRS CORP CL E 370442402 331 7600 SH SOLE 7600
JOHNSON & JOHNSON COM 478160104 446 6600 SH SOLE 6600
LAZBOY CHAIR CO. COM 505336107 195 7400 SH SOLE 7400
LOUISIANA PACIFIC COM 546347105 340 13000 SH SOLE 13000
MERCK & CO INC COM 589331107 1110 22600 SH SOLE 22600
MEYER FRED INC DEL COM 593098106 228 8400 SH SOLE 8400
MORGAN J P & CO INC COM 616880100 617 8800 SH SOLE 8800
NATIONSBANK COM 638585109 504 9400 SH SOLE 9400
NICOR COM 654086107 234 8700 SH SOLE 8700
OCCIDENTAL PETROLEUM COM 674599105 409 17900 SH SOLE 17900
PEPSICO INC COM 713448108 696 15300 SH SOLE 15300
PRICE/COSTCO INC COM 74143W102 574 34320 SH SOLE 34320
PROCTER & GAMBLE CO COM 742718109 597 8300 SH SOLE 8300
RALSTON PURINA COM 751277302 372 7300 SH SOLE 7300
SAFETY KLEEN CORP COM 786484105 310 19200 SH SOLE 19200
SCHERING PLOUGH CORP COM 806605101 591 13400 SH SOLE 13400
SINGER CO N V COM 82930F109 234 9100 SH SOLE 9100
SOCIETE NATIONALE ELF AQUITAIN SPONSORED ADR 833658404 481 12900 SH SOLE 12900
SONAT INC COM 835415100 305 10000 SH SOLE 10000
SOUTHWESTERN BELL CORP COM 845333103 262 5500 SH SOLE 5500
SUN MICROSYSTEMS INC COM 866810104 354 7300 SH SOLE 7300
TENNECO COM 880370100 359 7800 SH SOLE 7800
TOYS "R" US COM 892335100 281 9600 SH SOLE 9600
UNION PAC CORP COM 907818108 371 6700 SH SOLE 6700
UNOCAL CORP COM 915289102 312 11300 SH SOLE 11300
UNIVERSAL FOODS COM 913538104 298 9200 SH SOLE 9200
U S WEST INC COM 912889102 533 12800 SH SOLE 12800
UST INC COM 902911106 327 11000 SH SOLE 11000
WALMART COM 931142103 439 16400 SH SOLE 16400
WALT DISNEY COMPANY COM 254687106 416 7500 SH SOLE 7500
WEYERHAEUSER CO COM 962166104 429 9100 SH SOLE 9100
WHEELABRATOR TECHNOLOGIES COM 962901302 364 23700 SH SOLE 23700
WMX TECHNOLOGIES INC COM 92929Q107 621 21900 SH SOLE 21900
ADT LTD COM NEW 000915306 961 81800 SH DEFINED 01 81800
ABBOTT LABS COM 002824100 5188 128100 SH DEFINED 01 128100
AIR PRODS & CHEMS INC COM 009158106 1756 31500 SH DEFINED 01 31500
AMERICAN HOME PRODS CORP COM 026609107 3954 51100 SH DEFINED 01 51100
AMERICAN TEL & TELEG CO COM 030177109 6253 117700 SH DEFINED 01 117700
AMGEN INC COM 031162100 965 12000 SH DEFINED 01 12000
AMOCO CORP COM 031905102 1599 24000 SH DEFINED 01 24000
ANTEC COM 03664P105 559 33900 SH DEFINED 01 33900
ARMSTRONG WORLD INC COM 042476101 612 12200 SH DEFINED 01 12200
ARVIN INDS INC COM 043339100 2508 112100 SH DEFINED 01 112100
ASHLAND OIL COM 044540102 1377 39200 SH DEFINED 01 39200
ASHLAND OIL CUT PREF PFD 04454 870 2059 35800 SH DEFINED 01 35800
<PAGE> PAGE 5
VALUE SHARES/ SH/ PUT/ INVSTMT -----VOTING AUTHORITY-----
NAME OF ISSUER -TITLE OF CLASS- --CUSIP-- (x$1000) PRN AMT PRN CALL DSCRETN -MANAGERS- SOLE SHARED NONE
ATLANTIC RICHFIELD CO COM 048825103 1646 15000 SH DEFINED 01 15000
AVNET INC COM 053807103 3130 64700 SH DEFINED 01 64700
BAY NETWORKS INC COM 072510100 506 12230 SH DEFINED 01 12230
BLACK & DECKER CORP COM 091797100 1235 40000 SH DEFINED 01 40000
BMC SOFTWARE COM 055921100 1298 16800 SH DEFINED 01 16800
BURLINGTON NORTHERN COM 121897607 4785 75500 SH DEFINED 01 75500
CABOT CORP COM 127055101 923 17500 SH DEFINED 01 17500
CENTERPOINT PROPERTIES COM 151895109 1337 64800 SH DEFINED 01 64800
CHEVRON CORPORATION COM 166751107 2238 48000 SH DEFINED 01 48000
COAMERICA INC. COM 200340107 4006 124700 SH DEFINED 01 124700
COCA COLA CO COM 191216100 1466 23000 SH DEFINED 01 23000
COLUMBIA HEALTHCARE COM 197677107 1241 28700 SH DEFINED 01 28700
COMPAQ COMPUTER CORP COM 204493100 1611 35500 SH DEFINED 01 35500
COTT CORPORATION COM 22163N106 794 67600 SH DEFINED 01 67600
CRYSLER COM 171196108 618 12900 SH DEFINED 01 12900
CULLEN FROST BANKERS INC COM 229899109 2450 60500 SH DEFINED 01 60500
CYPRUS AMAX MINERALS CO COM 232809103 3072 107800 SH DEFINED 01 107800
CYPRUS AMAX MINERALS CO PFD A CONV $4 232809202 1240 20000 SH DEFINED 01 20000
DARDEN RESTAURANT COM 237194105 544 50000 SH DEFINED 01 50000
DEAN WITTER DISCOVER COM 24240V101 3802 80900 SH DEFINED 01 80900
DETROIT EDISON CO COM 250847100 1960 67000 SH DEFINED 01 67000
DISNEY WALT CO DEL COM 254687106 1936 34800 SH DEFINED 01 34800
DU PONT E I DE NEMOURS & CO COM 263534109 4819 70100 SH DEFINED 01 70100
DUN & BRADSTREET CORP COM 264830100 4909 93500 SH DEFINED 01 93500
DURIRON INC COM 266849108 2823 125450 SH DEFINED 01 125450
EASTMAN KODAK CO COM 277461109 2310 38100 SH DEFINED 01 38100
ETHYL CORPORATION COM 297659104 2005 188700 SH DEFINED 01 188700
FLUOR CORP COM 343861100 4503 86600 SH DEFINED 01 86600
FORD MTR CO DEL PFD DP A CV 345370209 4099 42200 SH DEFINED 01 42200
FORD MOTOR COMPANY COM 345370100 729 24500 SH DEFINED 01 24500
FOSTER WHEELER CORP COM 350244109 2943 83500 SH DEFINED 01 83500
GEON COMPANY COM 37246W105 3048 106000 SH DEFINED 01 106000
GTE CORP COM 362320103 3634 106500 SH DEFINED 01 106500
GENERAL MLS INC COM 370334104 2569 50000 SH DEFINED 01 50000
GENERAL MTRS CORP CL E 370442402 1125 24000 SH DEFINED 01 24000
GENERAL MOTORS COM 370442402 1105 25400 SH DEFINED 01 25400
GIANT CEMENT HOLDING COM 374450104 753 61500 SH DEFINED 01 61500
GRANITE CONSTRUCTION COM 387328107 423 19000 SH DEFINED 01 19000
GREENBRIAR COMPANIES COM 393657101 788 60000 SH DEFINED 01 60000
GRUPO TELIVISA SA COM 40049J206 752 36900 SH DEFINED 01 36900
GUILFORD MLS INC COM 401794102 2355 96600 SH DEFINED 01 96600
HEALTH&REHABILITATION PPTYS TR COM SH BEN INT 422169102 1650 110000 SH DEFINED 01 110000
HIGHWAY PROPERTIES COM 431284108 1658 65000 SH DEFINED 01 65000
HILLENBRAND IND INC COM 431573104 1488 47800 SH DEFINED 01 47800
JOHNSON & JOHNSON COM 478160104 1555 23000 SH DEFINED 01 23000
KIMBERLY CLARK CORP COM 494368103 3790 63300 SH DEFINED 01 63300
LA Z BOY CHAIR CO COM 505336107 2645 100300 SH DEFINED 01 100300
LIBERTY TRUST PROPER COM 531172104 981 50000 SH DEFINED 01 50000
LOUISIANA PAC CORP COM 546347105 953 36300 SH DEFINED 01 36300
MAGNETEK INC COM 559424106 800 58700 SH DEFINED 01 58700
<PAGE> PAGE 6
VALUE SHARES/ SH/ PUT/ INVSTMT -----VOTING AUTHORITY-----
NAME OF ISSUER -TITLE OF CLASS- --CUSIP-- (x$1000) PRN AMT PRN CALL DSCRETN -MANAGERS- SOLE SHARED NONE
MALLINCKRODT GROUP COM 561226106 923 26000 SH DEFINED 01 26000
MASCO CORPORATION COM 574599AG1 645 23900 SH DEFINED 01 23900
MCCORMICK & CO COM 579780206 2823 131300 SH DEFINED 01 131300
MERCK & CO INC COM 589331107 2009 41000 SH DEFINED 01 41000
MISSISSIPPI CHEMICAL COM 605288208 1455 73000 SH DEFINED 01 73000
MONTANA POWER CO COM 612085100 920 40000 SH DEFINED 01 40000
MORGAN J P & CO INC COM 616880100 5435 77500 SH DEFINED 01 77500
NATIONSBANK CORP COM 638585109 3319 61900 SH DEFINED 01 61900
NEWBRIDGE NETWORKS COM 650901101 575 16300 SH DEFINED 01 16300
NEW ENGLAND ELECTRIC COM 644001109 618 17900 SH DEFINED 01 17900
NICOR INC COM 654086107 1492 55500 SH DEFINED 01 55500
NOBLE AFFILIATES INC. COM 654894104 372 14600 SH DEFINED 01 14600
NORWEST CORP COM 669380107 259 9000 SH DEFINED 01 9000
OASIS RESIDENTIAL COM 674216106 1196 55000 SH DEFINED 01 55000
OCCIDENTAL PETROLEUM COM 674599105 1338 58500 SH DEFINED 01 58500
OMEGA HEALTHCARE INVS INC COM 681936100 1523 60000 SH DEFINED 01 60000
PACIFICARE HEALTH COM 695110205 479 9400 SH DEFINED 01 9400
PACIFICORP COM 695114108 654 34900 SH DEFINED 01 34900
PEPSICO INC COM 713448108 5790 126900 SH DEFINED 01 126900
PHILLIPS VAN HUSEN COM 718592108 636 41000 SH DEFINED 01 41000
PRICE/COSTCO INC COM 74143W102 2273 139900 SH DEFINED 01 139900
PROCTER & GAMBLE CO COM 742718109 2602 36200 SH DEFINED 01 36200
PUBLIC SERVICE ENTER COM 744573106 677 24400 SH DEFINED 01 24400
RALSTON COM 751277302 3004 58900 SH DEFINED 01 58900
RAWLINGS SPORTING COM 754459105 425 50700 SH DEFINED 01 50700
RJR NABISCO COM 74960K108 1150 41248 SH DEFINED 01 41248
RAYTHEON CO COM 755111101 1941 25000 SH DEFINED 01 25000
SAFETY KLEEN CORP COM 786484105 2796 173400 SH DEFINED 01 173400
SCHERING PLOUGH CORP COM 806605101 2877 65200 SH DEFINED 01 65200
SHAWNUT NATIONAL COM 820484103 1913 60000 SH DEFINED 01 60000
SINGER CO N V COM 82930F109 1216 47000 SH DEFINED 01 47000
SOCIETE NATIONALE ELF AQUITAIN SPONSORED ADR 833658404 3341 89700 SH DEFINED 01 89700
SONAT INC COM 835415100 2666 87400 SH DEFINED 01 87400
SOVRAN BANCORP COM 845905207 1347 25000 SH DEFINED 01 25000
SOVRAN SELF STORAGE COM 84610H108 2990 130000 SH DEFINED 01 130000
SPRINT CORP "DECS" COM 852061407 313 9000 SH DEFINED 01 9000
ST PAUL CAP PFD PFD 792856205 1045 20000 SH DEFINED 01 20000
ST PAUL COS INC COM 792860108 837 17000 SH DEFINED 01 17000
STORAGE USA COM 861907103 1419 50000 SH DEFINED 01 50000
STURM RUGER COM 864159108 2163 66300 SH DEFINED 01 66300
SUN MICROSYSTEMS INC COM 866810104 1450 29900 SH DEFINED 01 29900
SUNBEAM-OSTER COM 867071102 713 51400 SH DEFINED 01 51400
TELEFONOS DE MEXICO S A SP ADR REP ORD 879403780 1064 35900 SH DEFINED 01 35900
TENET HEALTHCARE COM 626886103 1452 101000 SH DEFINED 01 101000
TENNECO COM 880370101 3326 72300 SH DEFINED 01 72300
TEXACO INC COM 881694103 3675 56000 SH DEFINED 01 56000
TEXAS INSTRS INC COM 882508104 803 6000 SH DEFINED 01 6000
TOYS R US COM 892335100 886 30300 SH DEFINED 01 30300
TRANSPORT MARITIMA A COM 893868208 342 54700 SH DEFINED 01 54700
UGI CORP NEW COM 902681105 1690 80000 SH DEFINED 01 80000
<PAGE> PAGE 7
VALUE SHARES/ SH/ PUT/ INVSTMT -----VOTING AUTHORITY-----
NAME OF ISSUER -TITLE OF CLASS- --CUSIP-- (x$1000) PRN AMT PRN CALL DSCRETN -MANAGERS- SOLE SHARED NONE
UNION PAC CORP COM 907818108 3561 64300 SH DEFINED 01 64300
UNION TEXAS PETROLEUM COM 908640105 725 34300 SH DEFINED 01 34300
UNITED HEALTHCARE COM 910581107 3451 83400 SH DEFINED 01 83400
UNITED ILLUMINATING COM 910637107 756 22900 SH DEFINED 01 22900
UNIVERSAL FOODS COM 913538104 3092 95500 SH DEFINED 01 95500
U S WEST INC COM 912889102 4487 107800 SH DEFINED 01 107800
UST INC COM 902911106 2309 77600 SH DEFINED 01 77600
UNOCAL CORP COM 915289102 1500 54300 SH DEFINED 01 54300
WMX TECHNOLOGIES INC COM 92929Q107 4722 166400 SH DEFINED 01 166400
WAL MART STORES INC COM 931142103 3210 120000 SH DEFINED 01 120000
WARNER LAMBERT CO COM 934488107 320 3700 SH DEFINED 01 3700
WASHINGTON WATER POWER COM 940688104 736 46000 SH DEFINED 01 46000
WENDY'S INTERNATIONAL COM 950590109 1841 103000 SH DEFINED 01 103000
WESTERN GAS CVPRF 958259301 1085 31000 SH DEFINED 01 31000
WEYERHAEUSER CO COM 962166104 2592 55000 SH DEFINED 01 55000
WHEELABRATOR TECH. COM 962901302 1508 98100 SH DEFINED 01 98100
WHIRLPOOL CORP COM 963320106 3922 71300 SH DEFINED 01 71300
REPORT SUMMARY 267 DATA RECORDS 966408 1 OTHER MANAGERS ON WHOSE BEHALF REPORT IS FILED
</TABLE>
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