<PAGE> 1
ONE GROUP(R)
INVESTMENT TRUST
SEMI-ANNUAL REPORT
for the six months ended
June 30, 1999
<PAGE> 2
Semi-Annual Report
For the six months ended June 30, 1999
BOND PORTFOLIO
GOVERNMENT BOND PORTFOLIO
BALANCED PORTFOLIO
LARGE CAP GROWTH PORTFOLIO
EQUITY INDEX PORTFOLIO
DIVERSIFIED EQUITY PORTFOLIO
MID CAP GROWTH PORTFOLIO
DIVERSIFIED MID CAP PORTFOLIO
MID CAP VALUE PORTFOLIO
<PAGE> 3
- --------------------------------------------------------------------------------
Table of Contents
- --------------------------------------------------------------------------------
ONE GROUP INVESTMENT TRUST JUNE 30, 1999
Schedule of Portfolio Investments........................................... 1
Statements of Assets and Liabilities......................................... 38
Statements of Operations..................................................... 41
Statements of Changes in Net Assets.......................................... 44
Notes to Financial Statements................................................ 47
Financial Highlights......................................................... 54
<PAGE> 4
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One Group Investment Trust
Bond Portfolio
- --------------------------------------------------------------------------------
SCHEDULE OF PORTFOLIO INVESTMENTS JUNE 30, 1999
(Unaudited)
<TABLE>
<CAPTION>
SHARES
OR
PRINCIPAL MARKET
AMOUNT SECURITY DESCRIPTION VALUE
- ---------- ---------------------------------- -----------
<C> <S> <C>
ASSET BACKED SECURITIES (6.0%):
$ 191,309 Arcadia Automobile Receivables
Trust, Series 97-B, Class A3,
6.30%, 7/16/01.................. $ 191,611
200,000 Arcadia Automobile Receivables
Trust, Series 98-A, Class A4,
6.00%, 11/17/03................. 198,987
250,000 Arcadia Automobile Receivables
Trust, Series 98-B, Class A3,
5.95%, 11/15/02................. 250,621
500,000 Arcadia Automobile Receivables
Trust, Series 99-B, Class A4,
6.51%, 9/15/04.................. 500,612
23,061 Case Equipment Loan Trust, Series
96-A, Class A2, 5.50%,
2/15/03......................... 23,070
20,634 CPS Auto Trust, Series 97-4, Class
A1, 6.07%, 3/15/03.............. 20,663
400,000 CPS Auto Trust, Series 98-3, Class
A4, 6.08%, 10/15/03............. 401,182
97,308 Olympic Automobile Receivables
Trust, Series 95-C, Class A2,
6.20%, 1/15/02.................. 97,541
300,000 Olympic Automobile Receivables
Trust, Series 96-C, Class A5,
7.00%, 3/15/04.................. 304,673
51,466 ONYX Acceptance Auto Trust, Series
96-1, Class A, 5.40%, 5/15/01... 51,491
250,000 ONYX Acceptance Auto Trust, Series
98-B, Class A2, 5.85%,
7/15/03......................... 247,831
9,967 Nationsbank Auto Grantor Trust,
Series 95-A, Class A, 5.85%,
6/15/02......................... 9,980
500,000 Premier Auto Trust, Series 98-5,
Class A3, 5.07%, 7/8/02......... 494,258
200,000 Sears Credit Account Master Trust,
Series 98-1, Class A, 5.80%,
8/15/05......................... 199,457
49,908 WFS Financial Owner Trust, Series
96-D, Class A3, 6.05%,
7/20/01......................... 49,840
48,722 WFS Financial Owner Trust, Series
97-A, Class A3, 6.50%,
9/20/01......................... 48,937
150,000 WFS Financial Owner Trust, Series
96-C, Class A4, 6.80%,
12/20/03........................ 150,959
112,934 World Omni Automobile Lease
Securitization, Series 97-B,
Class A1, 6.07%, 11/25/03....... 113,054
</TABLE>
<TABLE>
<CAPTION>
SHARES
OR
PRINCIPAL MARKET
AMOUNT SECURITY DESCRIPTION VALUE
- ---------- ---------------------------------- -----------
<C> <S> <C>
ASSET BACKED SECURITIES, CONTINUED:
$ 298,733 World Omni Automobile Lease
Securitization, Series 97-B,
Class A3, 6.18%, 11/25/03....... $ 299,607
-----------
Total Asset Backed Securities 3,654,374
-----------
CORPORATE BONDS (3.6%):
Automobile (1.0%):
300,000 Ford Motor Credit, 8.20%,
2/15/02......................... 313,147
300,000 General Motors Acceptance Corp.,
5.75%, 11/10/03................. 290,022
-----------
603,169
-----------
Finance (0.8%):
85,000 Associates Corp. of North America,
9.13%, 4/1/00................... 86,824
200,000 Associates Corp. of North America,
8.15%, 8/1/09................... 215,898
200,000 Associates Corp. of North America,
5.96%, 5/15/37.................. 200,697
-----------
503,419
-----------
Industry (1.8%)
110,000 Boeing Capital Corp., 7.95%,
8/15/24......................... 120,507
500,000 Boeing Capital Corp., 6.36%,
7/15/05......................... 469,283
500,000 Hertz Corp., 6.50%, 5/15/06....... 484,572
-----------
1,074,362
-----------
Total Corporate Bonds 2,180,950
-----------
OTHER MORTGAGE BACKED SECURITIES (1.9%):
139,778 Chase Mortgage Finance Corp.,
Series 94-E, Class A6B, 7.30%,
4/25/10......................... 139,643
19,546 Merrill Lynch Home Equity Loan,
Series 92-1, Class A, 5.34%,
7/15/22......................... 19,558
1,000,000 Residential Accredit Loans, Inc.,
Series 96-QS3, Class AI11,
7.75%, 6/25/26.................. 1,010,338
-----------
Total Other Mortgage Backed Securities 1,169,539
-----------
U.S. GOVERNMENT AGENCY MORTGAGES (42.5%):
Federal Home Loan Mortgage Corp. (20.2%):
285,126 4.50%, 3/15/07, Series #1295-JB,
CMO............................. 275,183
12,063 3.81%, 10/15/07, Series #1389-SA,
CMO............................. 11,507
330,893 4.00%, 2/15/08, Series #1465-SA,
CMO............................. 12,400
55,961 5.50%, 4/15/08, Series #1489-L,
CMO............................. 54,329
362,424 0.00%, 5/15/08, Series 1989, Class
L............................... 298,293
136,183 6.07%, 5/15/08, Series #1606-LC,
CMO............................. 139,254
856,259 0.00%, 8/15/08, Series 1900, Class
T............................... 615,548
</TABLE>
1
Continued
<PAGE> 5
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One Group Investment Trust
Bond Portfolio
- --------------------------------------------------------------------------------
SCHEDULE OF PORTFOLIO INVESTMENTS, CONTINUED JUNE 30, 1999
(Unaudited)
<TABLE>
<CAPTION>
SHARES
OR
PRINCIPAL MARKET
AMOUNT SECURITY DESCRIPTION VALUE
- ---------- ---------------------------------- -----------
<C> <S> <C>
U.S. GOVERNMENT AGENCY MORTGAGES, CONTINUED:
Federal Home Loan Mortgage Corp., continued:
$ 92,872 6.00%, 9/15/08, Series #1586-A,
CMO............................. $ 92,552
171,212 0.00%, 10/15/08, Series 1967,
Class PC........................ 129,067
54,062 8.19%, 12/15/08, Series #1647-SB,
CMO............................. 54,614
200,000 8.50%, 12/15/08, Series #1625-SD,
CMO............................. 212,727
199,762 6.40%, 2/15/09, Series #1679-O,
CMO............................. 191,868
125,000 6.92%, 2/15/09, Series 1796, Class
S............................... 120,009
495,306 9.00%, 6/1/10 Gold Pool #G10777... 514,995
300,000 6.30%, 1/15/13, Series #2025-PE,
CMO............................. 287,393
470,193 3.15%, 10/15/13, Series #1595-S,
CMO ............................ 13,238
292,993 8.83%, 10/15/13, Series #1607-SA,
CMO............................. 290,252
63,695 12.00%, 7/1/19, Pool #555238...... 69,896
250,000 9.50%, 7/15/19, Series #11-D,
CMO............................. 265,106
214,181 5.50%, 12/15/19, Series #1709-C,
CMO............................. 212,310
127,146 7.50%, 1/15/20, Series
#1297-H,CMO..................... 127,980
147,179 9.50%, 4/15/20, Series #22-C,
CMO............................. 153,814
62,039 10.00%, 6/15/20, Series #47-F,
CMO............................. 65,456
34,967 9.50%, 1/15/21, Series #99-Z,
CMO............................. 37,158
116,250 6.50%, 2/15/21, Series #128-I,
CMO............................. 115,367
58,497 9.00%, 4/15/21, Series #1065-J,
CMO............................. 61,465
500,000 0.00%, 2/15/22, Series 1987, Class
W............................... 337,825
211,000 7.00%, 5/15/22, Series #1250-J,
CMO............................. 206,156
400,000 6.00%, 10/15/22, Series #1395-G,
CMO............................. 377,521
126,764 8.50%, 10/15/22, Series #1646-MD,
CMO............................. 128,280
144,000 0.00%, 11/15/22, Series 2002,
Class A......................... 100,496
45,000 5.68%, 1/15/23, Series #1603-IF,
CMO ............................ 46,516
484,208 6.68%, 5/15/23, Series #1592-TB,
CMO............................. 400,663
176,709 7.00%, 5/15/23, Series #1505-Q,
CMO............................. 171,597
288,542 9.18%, 5/15/23, Series #1614-VB,
CMO............................. 266,058
95,000 8.33%, 7/15/23, Series #1543-JC,
CMO ............................ 69,472
787,104 6.25%, 9/15/23, Series #1589-Z,
CMO............................. 712,720
100,000 7.53%, 10/15/23, Series #1689-SD,
CMO............................. 96,414
58,241 11.70%, 10/15/23, Series 1859,
Class SB........................ 12,457
137,603 6.00%, 11/15/23, Series #1685-Z,
CMO............................. 118,354
95,950 6.50%, 11/15/23, Series #1609-LG,
CMO............................. 81,728
</TABLE>
<TABLE>
<CAPTION>
SHARES
OR
PRINCIPAL MARKET
AMOUNT SECURITY DESCRIPTION VALUE
- ---------- ---------------------------------- -----------
<C> <S> <C>
U.S. GOVERNMENT AGENCY MORTGAGES, CONTINUED:
Federal Home Loan Mortgage Corp., continued:
$ 65,065 8.50%, 11/15/23, Series #1619-SD,
CMO............................. $ 65,883
286,574 0.00%, 2/15/24, Series #1700-GA,
CMO............................. 210,498
39,012 7.90%, 2/15/24, Series #1686-SL,
CMO............................. 38,108
462,710 0.00%, 2/25/24, Series 99-16,
Class B......................... 281,514
916,158 4.91%, 3/15/24, Series #1689-FC,
CMO............................. 852,797
334,792 6.00%, 5/15/27, Series #1981-Z,
CMO............................. 285,873
500,000 6.50%, 7/15/27, Series #2137-TG,
CMO............................. 479,334
933,000 7.50%, 9/15/27, Series #1987-PE,
CMO............................. 931,592
735,919 7.00%, 3/15/28, Series #2038-PN,
CMO............................. 160,947
500,000 7.50%, 5/15/28, Series #2054-PV,
CMO............................. 506,005
173,000 0.00%, 1/15/29, Series #2113-GA,
CMO............................. 86,010
500,050 6.50%, 6/1/29, Gold Pool
#C00785......................... 484,603
500,000 6.50%, 7/1/29, TBA................ 484,219
-----------
12,415,421
-----------
Federal National Mortgage Assoc. (15.2%):
457,266 9.00%, 12/1/06, Pool #313699...... 477,409
70,953 8.90%, 5/25/07, Series 93-175,
Class S, CMO.................... 71,683
78,296 0.00%, 2/25/08, Series 96-24,
Class K......................... 68,274
200,000 9.19%, 8/25/08, Series 93-134,
Class SA, CMO................... 200,184
159,259 0.00%, 9/25/08, Series 96-20,
Class L......................... 118,470
150,000 0.00%, 9/25/08, Series 96-39,
Class J......................... 107,538
302,262 8.80%, 9/25/08, Series 93-164,
Class SA, CMO................... 313,639
557,610 9.94%, 9/25/08, Series 93-175,
Class SA, CMO................... 576,712
200,000 0.00%, 10/25/08, Series 96-24,
Class B......................... 137,589
127,333 5.39%, 10/25/08, Series 93-196,
Class FA, CMO................... 125,782
6,620 256.00%, 11/1/08, Series K, Class
2............................... 40,801
462,820 7.44%, 12/25/08, Series 93-233,
Class SB, CMO................... 457,002
400,000 8.48%, 2/25/09, Series 94-13,
Class SK, CMO................... 390,335
94,619 6.50%, 3/25/09, Series 95-13,
Class B......................... 93,319
1,375 6.50%, 12/25/10, Series 96-7,
Class C, CMO.................... 1,369
</TABLE>
2
Continued
<PAGE> 6
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One Group Investment Trust
Bond Portfolio
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SCHEDULE OF PORTFOLIO INVESTMENTS, CONTINUED JUNE 30, 1999
(Unaudited)
<TABLE>
<CAPTION>
SHARES
OR
PRINCIPAL MARKET
AMOUNT SECURITY DESCRIPTION VALUE
- ---------- ---------------------------------- -----------
<C> <S> <C>
U.S. GOVERNMENT AGENCY MORTGAGES, CONTINUED:
Federal National Mortgage Assoc., continued:
$ 298,241 6.37%, 11/25/13, Series 93-220,
Class SE, CMO................... $ 278,322
49,707 7.10%, 11/25/13, Series 93-220,
Class SD, CMO................... 43,870
500,000 6.50%, 12/18/17, Series 98-17,
Class TB, CMO................... 501,863
51,154 6.55%, 3/1/19, Pool #116612, AR... 51,968
21,092 5.00%, 5/25/19, Series 93-19,
Class G, CMO.................... 21,017
17,089 6.50%, 6/25/19, Series G93-19,
Class K, CMO.................... 17,109
249,005 8.50%, 11/25/19, Series 89-83,
Class H, CMO.................... 257,881
83,606 8.80%, 1/25/20, Series 90-1, Class
D, CMO.......................... 87,549
34,918 6.00%, 6/25/20, Series G93-13,
Class G, CMO.................... 34,843
73,779 5.50%, 8/25/20, Series 90-93,
Class G, CMO.................... 70,962
93,086 6.00%, 10/25/20, Series 92-204,
Class B, CMO.................... 92,842
335,515 6.50%, 12/25/20, Series 97-85,
Class L, CMO.................... 34,982
88,918 8.75%, 12/25/20, Series 90-143,
Class J, CMO.................... 92,887
963 652.15%, 12/25/20, Series 90-140,
Class K, CMO.................... 21,232
18,352 6.50%, 10/25/21, Series 94-30,
Class LA, CMO................... 18,209
200,000 5.00%, 11/25/21, Series G92-66,
Class JB, CMO................... 183,940
300,305 7.00%, 1/25/22, Series G92-15,
Class Z, CMO.................... 300,021
120,947 7.00%, 7/25/22, Series G92-42,
Class Z, CMO.................... 121,429
268,000 6.50%, 8/25/22, Series 96-59,
Class J......................... 264,833
400,000 5.50%, 9/25/22, Series 92-143,
Class MA, CMO................... 369,370
83,911 5.19%, 10/25/22, Series G92-59,
Class F, CMO.................... 81,784
120,000 5.41%, 10/25/22, Series 93-225,
Class FP, CMO................... 120,659
32,385 7.00%, 10/25/22, Series G92-61,
Class Z, CMO.................... 30,623
169,000 7.90%, 1/25/23, Series G93-1,
Class KA, CMO................... 176,034
149,654 0.00%, 2/25/23, Series G93-12,
Class C, CMO.................... 142,422
200,000 9.61%, 2/25/23, Series 98-35,
Class SV........................ 180,381
</TABLE>
<TABLE>
<CAPTION>
SHARES
OR
PRINCIPAL MARKET
AMOUNT SECURITY DESCRIPTION VALUE
- ---------- ---------------------------------- -----------
<C> <S> <C>
U.S. GOVERNMENT AGENCY MORTGAGES, CONTINUED:
Federal National Mortgage Assoc., continued:
$ 72,551 4.16%, 4/25/23, Series 93-44,
Class S, CMO.................... $ 5,694
18,980 5.50%, 4/25/23, Series 93-58,
Class J, CMO.................... 17,558
20,794 6.75%, 5/25/23, Series 93-94,
Class K, CMO.................... 19,861
600,000 0.00%, 6/25/23, Series 93-257,
Class C......................... 358,003
731,821 1.85%, 6/25/23, Series 94-82,
Class SA, CMO................... 20,285
481,845 7.83%, 6/25/23, Series 94-28,
Class SD, CMO................... 393,496
84,070 8.26%, 8/25/23, Series 93-139,
Class SG, CMO................... 68,824
216,950 0.00%, 9/25/23, Series 93-248,
Class FB, CMO................... 200,004
195,284 3.00%, 9/25/23, Series 93-193,
Class B, CMO.................... 179,250
163,642 3.91%, 9/25/23, Series 93-155,
Class SB, CMO................... 9,192
275,132 6.66%, 9/25/23, Series G93-32,
Class SA, CMO................... 197,285
216,950 9.00%, 9/25/23, Series 93-248,
Class SB, CMO................... 192,817
58,886 0.00%, 11/25/23, Series 94-8,
Class G, CMO.................... 51,323
155,112 5.69%, 12/25/23, Series 93-230,
Class FA, CMO................... 156,932
137,918 7.00%, 11/17/24, Series G94-13,
Class ZB, CMO................... 134,077
5,225,605 1.84%, 3/25/27, Series 97-20,
Class IB, CMO................... 224,450
200,000 7.50%, 5/20/27, Series 97-39,
Class PD, CMO................... 199,853
107,192 5.77%, 3/1/29, Pool #303532, AR... 105,180
-----------
9,311,222
-----------
Government National Mortgage Assoc. (7.1%):
120,000 7.00%, 8/16/13, Series 96-22,
Class VB, CMO................... 121,057
105,278 8.00%, 9/15/22, Pool #297628...... 108,676
380,795 3.50%, 10/16/22, Series 94-4,
Class SA, CMO................... 17,324
250,000 7.49%, 7/16/24, Series 94-3, Class
PQ, CMO......................... 254,388
181,360 8.50%, 5/20/25, Pool #2006........ 188,801
491,000 7.50%, 9/17/25, Series 98-26,
Class K......................... 494,160
713,000 7.50%, 8/16/26, Series 96-16,
Class E, CMO.................... 715,259
399,054 8.00%, 11/20/26, Pool #2324....... 407,846
652,189 8.00%, 1/20/27, Pool #2362........ 666,518
</TABLE>
3
Continued
<PAGE> 7
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One Group Investment Trust
Bond Portfolio
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SCHEDULE OF PORTFOLIO INVESTMENTS, CONTINUED JUNE 30, 1999
(Unaudited)
<TABLE>
<CAPTION>
SHARES
OR
PRINCIPAL MARKET
AMOUNT SECURITY DESCRIPTION VALUE
- ---------- ---------------------------------- -----------
<C> <S> <C>
U.S. GOVERNMENT AGENCY MORTGAGES, CONTINUED:
Government National Mortgage Assoc., continued:
$ 500,000 7.50%, 5/16/27, Series 97-8, Class
PN, CMO......................... $ 508,171
238,023 8.00%, 5/15/28, Pool #460372...... 244,994
195,953 8.00%, 7/15/28 Pool #468066....... 201,692
444,366 7.50%, 9/15/28, Pool #486537...... 450,041
-----------
4,378,927
-----------
Total U.S. Government Agency Mortgages 26,105,570
-----------
U.S. TREASURY OBLIGATIONS (42.3%):
U.S. Treasury Bonds (32.9%):
400,000 10.38%, 11/15/09.................. 477,750
9,745,000 12.75%, 11/15/10.................. 13,134,438
2,790,000 10.38%, 11/15/12.................. 3,552,019
2,400,000 8.75%, 5/15/17.................... 3,021,000
-----------
20,185,207
-----------
U.S. Treasury Inflation Protected Bonds (1.5%):
200,000 3.63%, 7/15/02.................... 205,604
200,000 3.38%, 1/15/07.................... 201,279
550,000 3.63%, 4/15/28.................... 533,908
-----------
940,791
-----------
</TABLE>
<TABLE>
<CAPTION>
SHARES
OR
PRINCIPAL MARKET
AMOUNT SECURITY DESCRIPTION VALUE
- ---------- ---------------------------------- -----------
<C> <S> <C>
U.S. TREASURY OBLIGATIONS, CONTINUED:
U.S. Treasury Notes (6.6%):
$4,000,000 7.13%, 2/29/00.................... $ 4,051,252
-----------
U.S. Treasury STRIPS (1.3%):
500,000 11/15/11.......................... 232,379
300,000 2/15/13........................... 128,176
450,000 2/15/14........................... 179,611
800,000 5/15/18........................... 243,645
-----------
783,811
-----------
Total U.S. Treasury Obligations 25,961,061
-----------
INVESTMENT COMPANIES (3.7%):
2,268,049 One Group Prime Money Market Fund,
Class I......................... 2,268,049
-----------
Total Investment Companies 2,268,049
-----------
Total (Cost $61,575,167)(a) $61,339,543
===========
</TABLE>
- ------------
Percentages indicated are based on net assets of $61,334,359
(a) Represents cost for financial reporting and federal income tax purposes and
differs from value by net unrealized depreciation of securities as follows:
<TABLE>
<S> <C>
Unrealized appreciation...................... $ 627,824
Unrealized depreciation...................... (863,448)
---------
Net unrealized depreciation.................. $(235,624)
=========
</TABLE>
The abbreviations in the above statement stand for the following:
<TABLE>
<S> <C> <C> <C>
CMO Collateralized Mortgage Obligation
Separate Trading of Registered Interest and Principal
STRIPS Securities
</TABLE>
See accompanying notes to financial statements.
4
<PAGE> 8
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One Group Investment Trust
Government Bond Portfolio
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SCHEDULE OF PORTFOLIO INVESTMENTS JUNE 30, 1999
(Unaudited)
<TABLE>
<CAPTION>
SHARES
OR
PRINCIPAL MARKET
AMOUNT SECURITY DESCRIPTION VALUE
- ---------- ---------------------------------- -----------
<C> <S> <C>
U.S. GOVERNMENT AGENCY MORTGAGES (70.2%):
Federal Home Loan Mortgage Corp. (30.7%):
$ 48,674 6.50%, 1/1/01, Gold Pool
#G50324......................... $ 48,708
134,369 8.50%, 12/1/09, Gold Pool
#E20150......................... 139,305
683,806 7.00%, 2/1/11, Gold Pool
#E63959......................... 688,367
975,964 5.50%, 3/1/14, Gold Pool
#E75738......................... 925,945
396,735 6.00%, 4/1/14, Gold Pool
#E76438......................... 384,155
1,000,000 6.50%, 6/1/14, Gold Pool
#E00678......................... 988,620
387,233 8.00%, 9/1/24, Gold Pool
#D55955......................... 398,757
738,071 6.50%, 11/01/25, Gold Pool
#D65545......................... 718,542
968,362 6.00%, 4/1/26, Gold Pool
#D70244......................... 919,915
1,500,000 6.00%, 2/15/27, Series #2091-PF,
CMO............................. 1,404,101
2,285,000 6.25%, 4/15/27, Series #2018-PE,
CMO............................. 2,124,842
2,000,000 6.00%, 2/15/28, Series #2165-PD,
CMO............................. 1,886,334
354,355 8.50%, 7/1/28, Gold Pool
#G00981......................... 370,800
1,400,000 6.25%, 8/15/28, Series #2075-PM,
CMO............................. 1,288,323
2,000,000 6.50%, 8/15/28, Series #2080-PJ,
CMO............................. 1,892,972
3,425,674 6.50%, 2/1/29, Gold Pool
#C22459......................... 3,320,951
-----------
17,500,637
-----------
Federal National Mortgage Assoc. (9.0%):
242,144 7.00%, 9/1/03, Pool #359952....... 244,505
788,937 7.00%, 7/17/05, Series 97-26,
Class GD, CMO................... 798,936
157,255 7.50%, 8/1/09, Pool #279759....... 160,065
162,169 6.50%, 11/1/11, Pool #356206...... 160,244
500,000 6.00%, 1/17/13, Series 98-37,
Class VB, CMO................... 462,838
415,085 9.50%, 6/25/18, Series 88-16,
Class B, CMO.................... 444,710
245,000 7.00%, 9/25/23, Series 93-155,
Class PJ, CMO................... 246,773
348,404 6.50%, 09/01/25, Pool #250375..... 339,217
679,487 6.50%, 3/1/26, Pool #341811....... 660,788
697,249 6.50%, 5/1/26, Pool #338417....... 678,061
1,000,000 6.50%, 10/25/28, Series 98-58,
Class PC, CMO................... 951,722
-----------
5,147,859
-----------
Government National Mortgage Assoc. (30.5%):
332,829 7.50%, 5/15/23, Pool #326977...... 337,672
201,961 7.50%, 6/15/23, Pool #359588...... 204,900
236,441 9.00%, 11/15/24, Pool #780029..... 251,510
484,967 7.50%, 9/15/25, Pool #336427...... 491,834
90,823 7.00%, 12/15/25, Pool #405535..... 89,953
1,500,000 6.38%, 11/20/26, Series 98-14,
Class PG, CMO................... 1,439,213
</TABLE>
<TABLE>
<CAPTION>
SHARES
OR
PRINCIPAL MARKET
AMOUNT SECURITY DESCRIPTION VALUE
- ---------- ---------------------------------- -----------
<C> <S> <C>
U.S. GOVERNMENT AGENCY MORTGAGES, CONTINUED:
Government National Mortgage Assoc., continued:
$1,637,207 8.00%, 11/20/26, Pool #2324....... $ 1,673,274
241,063 7.50%, 12/20/26, Pool #2341....... 243,047
500,000 6.50%, 6/20/27, Series 97-19,
Class PJ, CMO................... 477,419
509,875 6.63%, 7/20/27, Pool #80094, AR... 515,422
257,533 8.00%, 10/15/27, Pool #412336..... 265,122
1,415,924 8.00%, 10/15/27, Pool #451507..... 1,457,652
385,211 7.00%, 11/15/27, Pool #412369..... 381,271
755,390 7.50%, 1/15/28, Pool #427208...... 765,036
458,498 6.50%, 3/15/28, Pool #467705...... 442,734
432,897 7.00%, 4/15/28, Pool #472543...... 428,417
446,040 7.00%, 6/15/28, Pool #472679...... 441,424
1,498,519 6.50%, 7/15/28,Pool #481819....... 1,447,000
396,228 7.50%, 7/15/28, Pool #780828...... 401,288
235,921 6.50%, 9/15/28, Pool #467225...... 227,810
1,000,000 6.50%, 9/20/28, Series 98-22,
Class PD, CMO................... 951,266
953,946 7.00%, 11/15/28, Pool #469699..... 944,073
595,938 6.50%, 4/15/29, Pool #487601...... 575,212
997,553 6.50%, 4/15/29, Pool #498517...... 962,859
2,000,000 7.00%, 7/1/29, TBA................ 1,977,500
-----------
17,392,908
-----------
Total U.S. Government Agency Mortgages 40,041,404
-----------
U.S. GOVERNMENT AGENCY SECURITIES (11.2%):
Federal Home Loan Bank (2.6%):
1,500,000 6.15%, 9/30/02.................... 1,506,273
-----------
Federal National Mortgage Assoc. (2.3%)
1,300,000 5.75%, 4/15/03.................... 1,286,224
-----------
Resolution Funding Corp. (6.3%)
975,000 Principal STRIPS, 10/15/08........ 549,478
3,500,000 Principal STRIPS, 10/15/16........ 1,142,732
1,000,000 Principal STRIPS, 10/15/17........ 306,021
2,000,000 Principal STRIPS, 1/15/20......... 532,978
4,000,000 Principal STRIPS, 7/15/20......... 1,041,352
-----------
3,572,561
-----------
Total U.S. Government Agency Securities 6,365,058
-----------
U.S. TREASURY OBLIGATIONS (14.6%)
U.S. Treasury Bonds (3.5%)
2,000,000 6.25%, 8/15/23(b)................. 2,002,500
-----------
U.S. Treasury Inflation Protected Bonds (1.8%):
1,000,000 3.63%, 1/15/08(b)................. 1,000,138
-----------
U.S. Treasury Notes (9.3%)
1,500,000 6.25%, 4/30/01(b)................. 1,518,750
900,000 7.50%, 11/15/01(b)................ 937,687
1,500,000 5.50%, 1/31/03(b)................. 1,490,157
</TABLE>
5
Continued
<PAGE> 9
- --------------------------------------------------------------------------------
One Group Investment Trust
Government Bond Portfolio
- --------------------------------------------------------------------------------
SCHEDULE OF PORTFOLIO INVESTMENTS, CONTINUED JUNE 30, 1999
(Unaudited)
<TABLE>
<CAPTION>
SHARES
OR
PRINCIPAL MARKET
AMOUNT SECURITY DESCRIPTION VALUE
- ---------- ---------------------------------- -----------
<C> <S> <C>
U.S. TREASURY OBLIGATIONS, CONTINUED:
U.S. Treasury Notes, continued:
$ 750,000 6.50%, 8/15/05(b)................. $ 773,438
550,000 6.88%, 5/15/06(b)................. 579,219
-----------
5,299,251
-----------
Total U.S. Treasury Obligations 8,301,889
-----------
INVESTMENT COMPANIES (3.3%):
1,909,433 One Group Government Money Market
Fund............................ 1,909,433
-----------
Total Investment Companies 1,909,433
-----------
</TABLE>
<TABLE>
<CAPTION>
SHARES
OR
PRINCIPAL MARKET
AMOUNT SECURITY DESCRIPTION VALUE
- ---------- ---------------------------------- -----------
<C> <S> <C>
REPURCHASE AGREEMENTS (3.5%):
$2,000,000 State Street Bank 4.90%, 7/1/99
(Collateralized by $2,045,000
Federal Farm Credit Bank, 5.13%,
4/2/01, market value
$2,043,110)..................... $ 2,000,000
SHORT-TERM SECURITIES HELD AS COLLATERAL (3.8%):
Repurchase Agreement (3.8%)
2,147,579 Lehman Brothers Agency Tri-Party
4.91%, 7/1/99 (Collateralized by
various mortgage backed bonds,
4/1/09-6/1/28, market value
$2,203,659)..................... 2,147,579
-----------
Total (Cost $62,013,781) (a) $60,765,363
===========
</TABLE>
- ------------
Percentages indicated are based on net assets of $57,039,515
(a) Represents cost for financial reporting and federal income tax purposes and
differs from value by net unrealized depreciation of securities as follows:
<TABLE>
<S> <C>
Unrealized appreciation...................... $ 199,154
Unrealized depreciation...................... (1,447,572)
-----------
Net unrealized depreciation.................. $(1,248,418)
===========
</TABLE>
(b) A portion of this security was loaned as of June 30, 1999.
The abbreviations in the above statement stand for the following:
CMO Collateralized Mortgage Obligation
STRIPS Separate Trading of Registered Interest and Principal Securities
See accompanying notes to financial statements.
6
<PAGE> 10
- --------------------------------------------------------------------------------
One Group Investment Trust
Balanced Portfolio
- --------------------------------------------------------------------------------
SCHEDULE OF PORTFOLIO INVESTMENTS JUNE 30, 1999
(Unaudited)
<TABLE>
<CAPTION>
SHARES
OR
PRINCIPAL MARKET
AMOUNT SECURITY DESCRIPTION VALUE
- ---------- --------------------------------- ------------
<C> <S> <C>
ASSET BACKED SECURITIES (4.3%):
500,000 Advanta Equipment Receivables,
Series 98-1, Class A2, 5.82%,
12/15/06....................... $ 496,942
175,000 Americredit Automobile
Receivables Trust, Series 99-A,
Class A2, 5.38%, 4/12/02....... 174,926
400,000 Arcadia Automobile Receivables
Trust, Series 97-D, Class A3,
6.20%, 5/15/03................. 402,406
200,000 Case Equipment Loan Trust, Series
98-A, Class A4, 5.83%,
2/15/02........................ 198,879
89,245 Case Equipment Loan Trust, Series
97-A, Class A3, 6.45%,
3/15/04........................ 89,938
375,000 Chase Credit Card Master Trust,
Series 98-3, Class A, 6.00%,
8/15/05........................ 371,323
250,000 Chemical Master Credit Card
Trust, Series 95-2, Class A,
6.23%, 6/15/03................. 251,624
474,629 Chevy Chase Auto Receivables
Trust, Series 95-2 Class A,
5.80%, 6/15/02................. 475,628
250,000 Circuit City Credit Card Master
Trust, Series 95-1, Class A,
6.38%, 8/15/05................. 252,074
44,258 Copelco Capital Funding Corp.,
Series 96-A, Class A, 6.34%,
7/20/04........................ 44,409
81,774 CPS Auto Trust, Series 97-2,
Class A, 6.65%, 10/15/02....... 82,357
175,000 Discover Card Master Trust,
Series 99-2, Class A, 5.90%,
10/15/04....................... 173,307
156,442 Ford Credit Auto Owner Trust,
Series 96-A, Class A4, 6.75%,
9/15/00........................ 156,809
400,000 Green Tree Financial Corp.,
Series 97-7, Class A5, 6.54%,
7/15/29........................ 401,830
287,736 Green Tree Recreational,
Equipment & Consumer Trust,
Series 98-A, Class A1C, 6.18%,
6/15/19........................ 288,287
130,000 Harley-Davidson Eaglemark
Motorcycle Trust, Series 98-1,
Class A2, 5.94%, 2/15/04....... 128,827
176,568 Nationscredit Grantor Trust,
Series 96-1, Class A, 5.85%,
9/15/11........................ 175,038
</TABLE>
<TABLE>
<CAPTION>
SHARES
OR
PRINCIPAL MARKET
AMOUNT SECURITY DESCRIPTION VALUE
- ---------- --------------------------------- ------------
<C> <S> <C>
ASSET BACKED SECURITIES, CONTINUED:
16,093 Newcourt Receivables Asset Trust,
Series 96-2, Class A, 6.87%,
6/20/04........................ $ 16,073
41,204 Newcourt Receivables Asset Trust,
Series 96-3, Class A, 6.24%,
12/20/04....................... 41,175
500,000 Onyx Acceptance Auto Trust,
Series 98-A, Class CTFS, 5.99%,
1/15/05........................ 495,568
210,000 Provident Bank Equipment Lease
Trust, Series 98-A, Class A3,
5.60%, 4/25/06................. 209,153
175,000 Sears Credit Account Master
Trust, Series 98-1, Class A,
5.80%, 8/15/05................. 174,525
500,000 SLM Student Loan Trust, Series
99-1, Class A1T, 5.76%,
4/25/08........................ 500,000
495,000 Rental Car Finance Corp., Series
97-1, Class A2, 6.45%,
8/25/05........................ 489,161
379,688 Union Acceptance Corp., Series
96-C, Class A2, 6.51%,
11/8/02........................ 381,543
------------
Total Asset Backed Securities 6,471,802
------------
COMMERCIAL PAPER (7.3%):
11,000,000 GE Capital Corp., 5.04%,
9/15/99........................ 11,000,000
------------
Total Commercial Paper 11,000,000
------------
COMMON STOCKS (50.0%):
Aircrafts (0.2%):
4,810 Cordant Technologies, Inc........ 217,352
------------
Apparel (0.9%):
10,310 Jones Apparel Group, Inc.*....... 353,762
9,930 NIKE, Inc. Class B............... 628,693
13,260 Warnaco Group, Inc. (The)........ 354,705
------------
1,337,160
------------
Banks (4.7%):
16,940 Bank of America Corp............. 1,241,914
11,780 Charter One Financial, Inc....... 327,631
7,340 Chase Manhattan Corp. (The)...... 635,828
35,930 Citigroup, Inc................... 1,706,675
5,700 First Tennessee National Corp.... 218,381
7,620 National City Corp............... 499,110
7,700 Pacific Century Financial
Corp........................... 166,031
8,430 PNC Bank Corp.................... 485,779
8,930 SouthTrust Corp.................. 342,689
4,400 Summit Bancorp................... 183,975
27,650 Wells Fargo Co................... 1,182,037
------------
6,990,050
------------
</TABLE>
7
Continued
<PAGE> 11
- --------------------------------------------------------------------------------
One Group Investment Trust
Balanced Portfolio
- --------------------------------------------------------------------------------
SCHEDULE OF PORTFOLIO INVESTMENTS, CONTINUED JUNE 30, 1999
(Unaudited)
<TABLE>
<CAPTION>
SHARES
OR
PRINCIPAL MARKET
AMOUNT SECURITY DESCRIPTION VALUE
- ---------- --------------------------------- ------------
<C> <S> <C>
COMMON STOCKS, CONTINUED:
Beverages (0.8%):
7,500 Anheuser-Busch Cos., Inc......... $ 532,031
5,570 Coca-Cola Co. (The).............. 348,125
10,730 Coca-Cola Enterprises, Inc.(b)... 319,218
------------
1,199,374
------------
Broadcasting (1.2%)
14,300 Time Warner, Inc................. 1,051,050
16,020 Viacom, Inc. Class B*............ 704,880
------------
1,755,930
------------
Business Equipment & Services (0.4%):
8,605 Office Depot, Inc.*.............. 189,848
7,580 Waste Management, Inc............ 407,425
------------
597,273
------------
Chemicals -- Petroleum & Inorganic (0.9%):
11,310 Du Pont (E.I.) De Nemours &
Co............................. 772,614
9,300 Lyondell Chemical Co............. 191,813
7,750 Monsanto Co...................... 305,641
2,415 Rohm & Haas Co................... 103,564
------------
1,373,632
------------
Chemicals -- Specialty (0.9%):
7,060 Cabot Corp....................... 170,764
8,550 Crompton & Knowles Corp.......... 167,259
6,520 Cytec Industries, Inc.*.......... 207,825
10,320 Ferro Corp....................... 283,800
13,910 RPM, Inc......................... 197,348
7,490 Sigma-Aldrich Corp............... 257,937
------------
1,284,933
------------
Communication Equipment (2.4%):
7,840 BMC Software, Inc.*.............. 423,360
23,160 Cisco Systems, Inc.*............. 1,492,372
19,400 Lucent Technologies, Inc......... 1,308,287
4,600 Nortel Networks Corp............. 399,338
------------
3,623,357
------------
Computers -- Main/Mini (2.0%):
7,800 Hewlett-Packard Co............... 783,900
16,800 International Business Machines
Corp........................... 2,171,400
------------
2,955,300
------------
Computers -- Micro (0.7%):
20,260 Dell Computer Corp.*............. 749,620
5,800 Tech Data Corp.*................. 221,850
------------
971,470
------------
</TABLE>
<TABLE>
<CAPTION>
SHARES
OR
PRINCIPAL MARKET
AMOUNT SECURITY DESCRIPTION VALUE
- ---------- --------------------------------- ------------
<C> <S> <C>
COMMON STOCKS, CONTINUED:
Computers -- Peripheral (2.7%):
15,120 EMC Corp.*....................... $ 831,600
35,740 Microsoft Corp. *................ 3,223,301
------------
4,054,901
------------
Cosmetics -- Toiletry (0.1%):
6,910 Revlon, Inc. Class A*(b)......... 209,027
------------
Defense (0.2%):
5,010 Raytheon Co. Class B............. 352,579
------------
Electrical Equipment (2.9%):
23,680 General Electric Co.............. 2,675,840
2,880 Johnson Controls, Inc............ 199,620
7,800 Mark IV Industries, Inc.......... 164,775
10,360 Tyco International Ltd........... 981,610
7,660 York International Corp.......... 327,944
------------
4,349,789
------------
Electronic Components (1.8%):
28,700 Intel Corp....................... 1,707,650
7,570 Maxim Integrated Products,
Inc.*.......................... 503,405
5,680 SCI Systems, Inc.*............... 269,800
3,300 Solectron Corp.*................. 220,069
200 Xilinx, Inc.*.................... 11,450
------------
2,712,374
------------
Electronics -- Instruments (0.3%):
6,110 Applied Materials, Inc.* 451,376
------------
Finance Companies (0.3%):
9,080 Associates First Capital Corp.... 402,358
------------
Food & Related (1.5%) :
16,900 ConAgra, Inc..................... 449,962
7,160 General Mills, Inc............... 575,485
7,350 Quaker Oats Co. (The)............ 487,856
17,360 Sara Lee Corp.................... 393,855
6,500 U.S. Foodservice*................ 277,063
------------
2,184,221
------------
Forest/Paper Products (0.4%):
5,300 Georgia-Pacific Group(b)......... 251,088
8,430 Pentair, Inc..................... 385,673
------------
636,761
------------
Furniture/Furnishings (0.5%):
13,410 Leggett & Platt, Inc............. 372,966
14,730 Masco Corp....................... 425,329
------------
798,295
------------
Healthcare -- Drugs (2.1%):
6,600 Abbott Laboratories.............. 300,300
5,020 Cardinal Health, Inc............. 321,907
400 Elan Corp. PLC ADR*(b)........... 11,100
2,860 McKesson HBOC, Inc............... 91,878
</TABLE>
8
Continued
<PAGE> 12
- --------------------------------------------------------------------------------
One Group Investment Trust
Balanced Portfolio
- --------------------------------------------------------------------------------
SCHEDULE OF PORTFOLIO INVESTMENTS, CONTINUED JUNE 30, 1999
(Unaudited)
<TABLE>
<CAPTION>
SHARES
OR
PRINCIPAL MARKET
AMOUNT SECURITY DESCRIPTION VALUE
- ---------- --------------------------------- ------------
<C> <S> <C>
COMMON STOCKS, CONTINUED:
Healthcare -- Drugs, continued:
10,700 Merck & Co., Inc................. $ 791,800
6,750 Pfizer, Inc...................... 740,812
13,190 Schering-Plough Corp............. 699,070
6,050 Watson Pharmaceuticals, Inc.*.... 212,128
------------
3,168,995
------------
Healthcare -- General (2.8%):
13,070 American Home Products Corp...... 751,525
11,800 Becton, Dickenson & Co........... 354,000
7,100 Biomet, Inc...................... 282,225
5,810 Boston Scientific Corp.*......... 255,277
22,120 Bristol-Myers Squibb Co.......... 1,558,077
4,070 Johnson & Johnson................ 398,860
7,760 Warner-Lambert Co................ 538,350
------------
4,138,314
------------
Hospital Supply & Management (0.4%):
7,550 Medtronic, Inc................... 587,956
------------
Hotels & Gaming (0.3%):
13,860 Hilton Hotels Corp.(b)........... 196,638
6,190 MGM Grand, Inc.*................. 303,310
------------
499,948
------------
Household -- General Products (0.8%):
10,360 Lancaster Colony Corp............ 357,420
9,488 Newell Rubbermaid, Inc.(b)....... 441,192
4,560 Procter & Gamble Co. (The)....... 406,980
------------
1,205,592
------------
Household -- Major Appliances (0.2%):
3,480 Whirlpool Corp................... 257,520
------------
Insurance -- Life (0.1%):
4,500 ReliaStar Financial Corp......... 196,875
------------
Insurance -- Property & Casualty (1.5%):
10,540 Allstate Corp. (The)............. 378,123
6,450 American International Group,
Inc............................ 755,053
6,110 CIGNA Corp....................... 543,790
9,950 Hartford Financial Services
Group, Inc. (The).............. 580,209
------------
2,257,175
------------
Leisure Time Industry (0.5%):
11,920 Walt Disney Co. (The)............ 367,285
15,950 Mattel, Inc...................... 421,678
------------
788,963
------------
Motor Vehicles (0.5%):
7,760 Ford Motor Co.................... 437,955
4,400 General Motors Corp.............. 290,400
------------
728,355
------------
</TABLE>
<TABLE>
<CAPTION>
SHARES
OR
PRINCIPAL MARKET
AMOUNT SECURITY DESCRIPTION VALUE
- ---------- --------------------------------- ------------
<C> <S> <C>
COMMON STOCKS, CONTINUED:
Motor Vehicles -- Parts (0.7%):
3,065 Delphi Automotive Systems
Corp........................... $ 56,903
4,300 Eaton Corp....................... 395,600
5,780 Lear Corp.*...................... 287,555
3,980 SPX Corp.*....................... 332,330
------------
1,072,388
------------
Oil -- International (2.2%):
21,820 Exxon Corp....................... 1,682,867
5,010 Mobil Corp....................... 495,990
10,460 Royal Dutch Petroleum Co......... 630,215
8,950 Texaco, Inc...................... 559,375
------------
3,368,447
------------
Petroleum -- Domestic (0.5%):
7,610 Tosco Corp....................... 197,384
15,400 USX-Marathon Group............... 501,463
------------
698,847
------------
Petroleum -- Services (0.4%):
8,620 Halliburton Co................... 390,055
10,180 Transocean Offshore, Inc......... 267,225
------------
657,280
------------
Publishing (0.3%):
11,000 New York Times Co. (The) Class
A.............................. 404,937
------------
Railroads (0.2%):
3,980 Kansas City Southern Industries,
Inc............................ 253,974
------------
Restaurants (0.3%):
11,340 McDonald's Corp.................. 468,484
------------
Retail -- General Merchandise (1.4%):
6,760 Kohl's Corp.*.................... 521,787
10,610 Saks, Inc.*...................... 306,364
27,580 Wal-Mart Stores, Inc............. 1,330,735
------------
2,158,886
------------
Retail -- Specialty (0.8%):
6,540 Abercrombie & Fitch Co.*......... 313,920
10,800 CVS Corp......................... 548,100
11,420 Williams-Sonoma, Inc.*........... 397,558
------------
1,259,578
------------
Security & Commercial Broker (1.5%):
3,400 American Express Co.............. 442,425
12,720 Fannie Mae....................... 869,730
9,520 Morgan Stanley Dean Witter &
Co............................. 975,800
------------
2,287,955
------------
Timeshare & Software (0.6%):
8,020 America Online, Inc.*............ 886,210
------------
Tobacco (0.7%):
25,840 Philip Morris Cos., Inc.......... 1,038,445
------------
</TABLE>
9
Continued
<PAGE> 13
- --------------------------------------------------------------------------------
One Group Investment Trust
Balanced Portfolio
- --------------------------------------------------------------------------------
SCHEDULE OF PORTFOLIO INVESTMENTS, CONTINUED JUNE 30, 1999
(Unaudited)
<TABLE>
<CAPTION>
SHARES
OR
PRINCIPAL MARKET
AMOUNT SECURITY DESCRIPTION VALUE
- ---------- --------------------------------- ------------
<C> <S> <C>
COMMON STOCKS, CONTINUED:
Utilities -- Electric (1.3%):
8,690 CMS Energy Corp.................. $ 363,894
17,880 Energy East Corp................. 464,880
7,060 FPL Group, Inc................... 385,653
11,440 GPU, Inc......................... 482,625
5,720 PECO Energy Co................... 239,525
------------
1,936,577
------------
Utilities -- Gas/Pipeline (0.5%):
7,860 El Paso Energy Corp.............. 276,574
12,380 Williams Cos. (The).............. 526,924
------------
803,498
------------
Utilities -- Telephone (3.6%):
8,350 AT&T Corp.*...................... 466,049
13,395 CenturyTel, Inc.................. 532,451
17,960 MCI WorldCom, Inc.*.............. 1,545,683
9,000 Qwest Communications
International, Inc.*........... 297,563
27,820 SBC Communications, Inc.......... 1,613,560
16,420 Sprint Corp...................... 867,181
------------
5,322,487
------------
Total Common Stocks 74,905,198
------------
CORPORATE BONDS (5.2%):
Banking, Finance & Insurance (2.5%):
$ 200,000 Associates Corp. of North
America, 6.38%, 7/15/02........ 199,532
250,000 BankAmerica Corp., 8.13%,
2/1/02......................... 260,040
250,000 BCH Cayman Islands, 7.50%,
6/15/05........................ 254,234
300,000 Boatmens Bancshares, 6.75%,
3/15/03........................ 301,402
250,000 Chrysler Financial Corp., 5.88%,
2/7/01......................... 249,111
451,000 First Hawaiian, Inc., 6.25%,
8/15/00........................ 451,045
200,000 Ford Capital BV, 9.38%,
5/15/01........................ 210,908
250,000 General Motors Acceptance Corp.,
8.25%, 2/24/04................. 264,808
300,000 Goldman Sachs Group, 7.20%,
3/1/07......................... 302,376
250,000 Huntington National Bank, 6.75%,
6/15/03........................ 252,484
250,000 International Lease Finance
Corp., 5.88%, 1/15/01.......... 249,362
333,000 McDonnel Douglas Corp., 6.45%,
12/5/02........................ 330,461
200,000 Morgan Stanley, 6.50%, 3/30/01... 200,493
230,000 Society National Bank, 6.75%,
6/15/03........................ 230,546
------------
3,756,802
------------
</TABLE>
<TABLE>
<CAPTION>
SHARES
OR
PRINCIPAL MARKET
AMOUNT SECURITY DESCRIPTION VALUE
- ---------- --------------------------------- ------------
<C> <S> <C>
CORPORATE BONDS, CONTINUED
Capital Goods (0.2%):
$ 300,000 Tyco International Group, 6.25%,
6/15/13........................ $ 295,565
------------
Consumer Services (0.2%):
250,000 Hertz Corp., 6.00%, 1/15/03...... 243,610
------------
Energy (0.2%):
250,000 Occidental Petroleum, 9.25%,
8/1/19......................... 271,059
------------
Retail (0.5%):
250,000 Dayton Hudson Corp., 7.25%,
9/1/04......................... 255,796
250,000 JC Penney & Co., 7.25%, 4/1/02... 253,583
250,000 Sears Roebuck Acceptance, 7.13%,
5/2/03......................... 252,763
------------
762,142
------------
Technology (0.6%):
465,000 Lockheed Corp., 6.75%, 3/15/03... 466,120
395,000 Oracle Corp., 6.72%, 2/15/04..... 388,572
------------
854,692
------------
Transportation (0.1%):
250,000 JB Hunt Transportation Services,
6.25%, 9/1/03.................. 239,096
------------
Utilities (0.6%):
250,000 AT&T Corp., 7.50%, 6/1/06........ 258,404
248,000 Columbia Energy Group, 6.80%,
11/28/05....................... 244,376
200,000 Ohio Bell Telephone, 5.75%,
5/1/00......................... 199,647
250,000 Virginia Electric & Power, 6.63%,
4/1/03......................... 251,794
------------
954,221
------------
Governments (Foreign) (0.3%):
500,000 Province of Quebec, 6.50%,
1/17/06........................ 487,975
------------
Total Corporate Bonds 7,865,162
------------
OTHER MORTGAGE BACKED SECURITIES (2.2%):
325,000 Advanta Mortgage Loan Trust,
Series 98-1, Class A4, 6.42%,
9/25/21........................ 322,964
360,000 Advanta Mortgage Loan Trust,
Series 97-4, Class A5, 6.72%,
3/25/24........................ 359,969
186,000 Ameresco Residential Securities
Mortgage Loan, Series 97-2,
Class A4, 6.93%, 3/25/23....... 186,455
95,519 Contimortgage Home Equity Loan
Trust, Series 97-3, Class A4,
6.82%, 5/15/12................. 95,561
500,000 Contimortgage Home Equity Loan
Trust, Series 98-1, Class A4,
6.28%, 1/15/13................. 498,858
</TABLE>
10
Continued
<PAGE> 14
- --------------------------------------------------------------------------------
One Group Investment Trust
Balanced Portfolio
- --------------------------------------------------------------------------------
SCHEDULE OF PORTFOLIO INVESTMENTS, CONTINUED JUNE 30, 1999
(Unaudited)
<TABLE>
<CAPTION>
SHARES
OR
PRINCIPAL MARKET
AMOUNT SECURITY DESCRIPTION VALUE
- ---------- --------------------------------- ------------
<C> <S> <C>
OTHER MORTGAGE BACKED SECURITIES, CONTINUED:
155,000 Contimortgage Home Equity Loan
Trust, Series 98-1, Class A5,
6.43%, 4/15/16................. $ 154,393
109,904 EQCC Home Equity Loan Trust,
Series 98-2, Class A1F, 6.24%,
4/15/08........................ 109,969
210,000 EQCC Home Equity Loan Trust,
Series 97-3, Class A5, 6.45%,
9/15/12........................ 210,425
423,389 Fleetwood Credit Corp. Grantor
Trust, Series 97-B, Class A,
6.40%, 5/15/13................. 425,453
250,000 The Money Store Residential
Trust, Series 98-I, Class A2,
6.20%, 3/15/08................. 250,031
145,000 The Money Store Home Equity
Trust, Series 96-C, Class A12,
7.25%, 7/15/13................. 147,134
244,193 The Money Store Home Equity
Trust, Series 96-A Class A5,
6.85%, 6/15/19................. 244,932
70,000 The Money Store Home Equity
Trust, Series 96-B Class A7,
7.55%, 2/15/20................. 70,768
73,242 The Money Store Home Equity
Trust, Series 94-C, Class A4,
7.80%, 10/15/21................ 74,346
95,000 The Money Store Home Equity
Trust, Series 97-D, Class AF7,
6.49%, 12/15/38................ 93,234
------------
Total Other Mortgage Backed Securities 3,244,492
------------
U.S. GOVERNMENT AGENCY SECURITIES (3.4%):
Federal Home Loan Bank (3.4%):
300,000 5.66%, 6/23/00................... 300,134
250,000 5.57%, 8/14/00................... 249,769
250,000 4.98%, 9/15/00................... 247,969
400,000 4.95%, 9/18/00................... 396,500
1,750,000 5.88%, 11/25/08.................. 1,651,692
2,000,000 5.61%, 2/11/09(b)................ 1,875,518
415,000 5.89%, 3/30/09................... 396,196
------------
Total U.S. Government Agency Securities 5,117,778
------------
U.S. TREASURY OBLIGATIONS (9.5%):
U.S. Treasury Bills (0.5%):
680,000 8/19/99(c)....................... 675,918
------------
</TABLE>
<TABLE>
<CAPTION>
SHARES
OR
PRINCIPAL MARKET
AMOUNT SECURITY DESCRIPTION VALUE
- ---------- --------------------------------- ------------
<C> <S> <C>
U.S. TREASURY OBLIGATIONS, CONTINUED:
U.S. Treasury Bonds (9.0%):
1,000,000 11.63%, 11/15/02................. $ 1,176,875
6,000,000 12.75%, 11/15/10(b).............. 8,086,878
3,000,000 11.75%, 11/15/14(b).............. 4,270,314
------------
13,534,067
------------
Total U.S. Treasury Obligations 14,209,985
------------
U.S. GOVERNMENT AGENCY MORTGAGES (14.8%):
Federal Home Loan Mortgage Corp. (3.7%):
205,389 8.00%, 10/1/10, Gold Pool
#G10518........................ 212,068
430,076 6.00%, 3/1/13, Gold Pool
#E69409........................ 416,438
432,997 6.50%, 3/1/13, Gold Pool
#E69466........................ 428,308
439,491 6.50%, 6/1/13, Gold Pool
#E00552........................ 434,631
398,131 7.00%, 6/1/13, Gold Pool
#E00554........................ 400,739
280,969 8.00%, 4/1/17, Pool #290302...... 289,868
524,241 6.50%, 8/15/20, Series #1822-D,
CMO............................ 520,961
131,000 5.50%, 8/15/21, Series #1116-I,
CMO............................ 125,523
400,000 6.85%, 10/15/21, Series #1980-C,
CMO............................ 403,354
389,286 8.00%, 9/1/26, Gold Pool
#C00476........................ 400,354
252,834 7.50%, 7/1/27, Gold Pool
#D81027........................ 256,356
350,625 7.00%, 10/1/27, Gold Pool
#D83256........................ 348,164
338,424 8.50%, 7/1/28, Gold Pool
#G00981........................ 354,131
990,598 6.00%, 8/1/28, Gold Pool
#C13638........................ 935,273
------------
5,526,168
------------
Federal National Mortgage Assoc. (6.8%):
237,987 6.50%, 9/1/02, Pool #250357...... 239,284
591,425 7.24%, 10/1/03, Pool #73712...... 604,888
114,415 9.00%, 11/1/06, Pool #124017..... 119,519
270,790 6.85%, 10/1/07, Pool #375435..... 272,973
302,947 6.53%, 12/1/07, Pool #375568..... 300,400
796,410 7.50%, 8/1/09, Pool #292020...... 810,642
449,707 6.50%, 4/1/13, Pool #414513...... 444,284
389,492 7.00%, 6/1/13, Pool #427488...... 391,728
465,946 6.00%, 8/1/13, Pool #251900...... 450,738
472,605 6.00%, 12/1/13, Pool #323458..... 457,179
1,108,534 8.00%, 5/1/17, Pool #50000....... 1,146,801
264,019 9.00%, 12/1/17, Pool #359455..... 281,096
68,088 6.70%, 9/25/18, Series 92-217,
Class G........................ 68,008
747,060 8.50%, 11/01/18, Pool #313280.... 785,735
220,595 10.45%, 4/25/19, Series 89-21,
Class G, CMO................... 238,539
166,493 8.75%, 11/25/19, Series 89-86,
Class E, CMO................... 174,032
943,522 7.13%, 5/18/23, Series 97-11,
Class K, CMO................... 945,091
254,000 7.50%, 2/25/24, Series 94-81,
Class LL, CMO.................. 259,155
</TABLE>
11
Continued
<PAGE> 15
- --------------------------------------------------------------------------------
One Group Investment Trust
Balanced Portfolio
- --------------------------------------------------------------------------------
SCHEDULE OF PORTFOLIO INVESTMENTS, CONTINUED JUNE 30, 1999
(Unaudited)
<TABLE>
<CAPTION>
SHARES
OR
PRINCIPAL MARKET
AMOUNT SECURITY DESCRIPTION VALUE
- ---------- --------------------------------- ------------
<C> <S> <C>
U.S. GOVERNMENT AGENCY MORTGAGES, CONTINUED:
Federal National Mortgage Assoc., continued:
$ 85,194 7.00%, 8/1/25, Pool #270725...... $ 84,583
189,393 10.00%, 6/17/27, Series 97-49,
Class B, CMO................... 208,412
140,305 7.50%, 10/1/27, Pool #402032..... 142,189
974,965 6.00%, 6/1/28, Pool #428970...... 919,275
922,944 6.50% 8/1/28, Pool #433526....... 894,978
------------
10,239,529
------------
Government National Mortgage Assoc. (4.3%):
937,764 7.00%, 7/15/08, Pool #348872..... 952,477
152,890 7.00%, 2/15/11, Pool #412559..... 154,778
484,513 6.50%, 9/15/13, Pool #468228..... 480,007
164,664 8.00%, 11/15/16, Pool #181122.... 171,445
180,183 8.00%, 11/15/16, Pool #196714.... 187,603
111,510 8.00%, 11/15/16, Pool #199829.... 116,102
893,234 8.50%, 12/15/22, Pool #780708.... 937,994
380,501 8.00%, 11/15/24, Pool #780028.... 391,809
143,299 8.00%, 6/20/25, Series 95-4,
Class CQ, CMO.................. 146,991
133,044 7.50%, 5/15/26, Pool #398663..... 134,884
255,619 7.50%, 1/20/27, Pool #2360....... 257,554
315,404 8.00%, 9/15/27, Pool #451932..... 324,699
</TABLE>
<TABLE>
<CAPTION>
SHARES
OR
PRINCIPAL MARKET
AMOUNT SECURITY DESCRIPTION VALUE
- ---------- --------------------------------- ------------
<C> <S> <C>
U.S. GOVERNMENT AGENCY MORTGAGES, CONTINUED:
Government National Mortgage Assoc., continued:
$ 469,155 6.50%, 3/15/28, Pool #430634..... $ 453,025
348,797 7.00%, 4/15/28, Pool #473915..... 345,187
435,942 7.50%, 5/15/28, Pool #465069..... 441,509
414,508 7.00%, 6/15/28, Pool #477123..... 410,218
491,087 6.00%, 10/20/28, Pool #2657...... 458,916
------------
6,365,198
------------
Total U.S. Government Agency Mortgages 22,130,895
------------
INVESTMENT COMPANIES (2.8%):
4,226,241 One Group Prime Money Market
Fund, Class I.................. 4,226,241
------------
Total Investment Companies 4,226,241
------------
SHORT-TERM SECURITIES HELD AS COLLATERAL (0.7%):
Repurchase Agreement (0.7%):
1,051,288 Lehman Brothers A2/P2 Tri-Party
5.85%, 7/1/99 (Collateralized
by $1,104,438 Dorada Finance
Commercial Paper, 9/28/99,
market value $1,104,438)....... 1,051,288
------------
Total (Cost $137,326,881)(a) $150,222,841
============
</TABLE>
- ------------
Percentages indicated are based on net assets of $149,895,782.
* Denotes a non-income producing security.
(a) Represents cost for financial reporting purposes and differs from value by
net unrealized appreciation of securities as follows:
<TABLE>
<S> <C>
Unrealized appreciation...................... $15,098,450
Unrealized depreciation...................... (2,202,490)
-----------
Net unrealized appreciation.................. $12,895,960
===========
</TABLE>
Cost for federal income tax purposes: $137,396,684.
(b) A portion of this security was loaned as of June 30, 1999.
(c) Serves as collateral for futures contracts
The abbreviations in the above statement stand for the following:
<TABLE>
<S> <C>
CMO Collateralized Mortgage Obligation
</TABLE>
<TABLE>
<CAPTION>
CURRENT
NUMBER OF OPENING MARKET
CONTRACTS CONTRACT TYPE POSITIONS VALUE
- --------- ------------- ----------- -----------
<C> <S> <C> <C>
34 Long S&P 500, September 1999 Futures $11,221,105 $11,744,450
</TABLE>
See accompanying notes to financial statements.
12
<PAGE> 16
- --------------------------------------------------------------------------------
One Group Investment Trust
Large Cap Growth Portfolio
- --------------------------------------------------------------------------------
SCHEDULE OF PORTFOLIO INVESTMENTS JUNE 30, 1999
(Unaudited)
<TABLE>
<CAPTION>
SHARES
OR
PRINCIPAL MARKET
AMOUNT SECURITY DESCRIPTION VALUE
- ---------- --------------------------------- ------------
<C> <S> <C>
COMMERCIAL PAPER (2.5%):
Financial Services (2.5%):
$7,500,000 Ford Motor Credit Co., 5.04%,
09/15/99....................... $ 7,420,200
------------
Total Commercial Paper 7,420,200
------------
COMMON STOCKS (91.8%):
Air Transportation (0.4%):
35,000 Southwest Airlines Co............ 1,089,375
------------
Banks (3.0%):
12,200 Firstar Corp..................... 341,600
70,075 MBNA Corp........................ 2,146,047
13,300 Mercantile Bancorp, Inc.......... 759,763
47,300 US Bancorp Class A............... 1,608,200
89,500 Wells Fargo Co................... 3,826,125
------------
8,681,735
------------
Beverages (3.8%):
30,500 Anheuser-Busch Cos., Inc......... 2,163,594
89,000 Coca Cola Co..................... 5,562,500
36,700 Coca-Cola Enterprises, Inc.(b)... 1,091,825
61,000 PepsiCo, Inc..................... 2,359,938
------------
11,177,857
------------
Broadcasting (0.4%):
33,400 Comcast Corp. Class A............ 1,283,812
------------
Business Equipment & Services (1.9%):
18,300 Interpublic Group of Cos.,
Inc............................ 1,585,237
8,500 Pitney Bowes, Inc................ 546,125
33,400 Staples, Inc.*................... 1,033,313
46,600 Waste Management, Inc............ 2,504,750
------------
5,669,425
------------
Communication -- Equipment (9.3%):
10,300 BMC Software, Inc.*.............. 556,200
179,850 Cisco Systems, Inc.*............. 11,589,084
148,850 Lucent Technologies, Inc......... 10,038,072
33,200 Nortel Networks Corp............. 2,882,175
31,000 Tellabs, Inc.*................... 2,094,438
------------
27,159,969
------------
Computer -- Main/Mini (4.1%):
91,600 International Business Machines
Corp........................... 11,839,300
------------
Computer -- Micro (2.6%):
104,600 Dell Computer Corp.*............. 3,870,200
52,700 Sun Microsystems, Inc.*.......... 3,629,713
------------
7,499,913
------------
</TABLE>
<TABLE>
<CAPTION>
SHARES
OR
PRINCIPAL MARKET
AMOUNT SECURITY DESCRIPTION VALUE
- ---------- --------------------------------- ------------
<C> <S> <C>
COMMON STOCKS, CONTINUED:
Computer -- Peripheral (9.8%):
25,100 Computer Associates
International, Inc............. $ 1,380,500
56,300 EMC Corp.*....................... 3,096,500
245,500 Microsoft Corp.*................. 22,141,031
58,500 Oracle Corp.*.................... 2,171,813
------------
28,789,844
------------
Cosmetic and Toiletry (0.8%):
22,200 Avon Products, Inc............... 1,232,100
23,500 Gillette Co. (The)............... 963,500
------------
2,195,600
------------
Electrical Equipment (7.7%):
157,000 General Electric Co.............. 17,741,000
51,400 Tyco International Ltd........... 4,870,150
------------
22,611,150
------------
Electronic Components (3.8%):
142,900 Intel Corp....................... 8,502,550
20,200 Solectron Corp.*................. 1,347,088
9,100 Texas Instruments, Inc........... 1,319,500
------------
11,169,138
------------
Financial (0.5%):
12,815 Nasdaq-100 shares................ 1,477,730
------------
Food and Related (1.9%):
17,100 General Mills, Inc............... 1,374,412
15,200 Quaker Oats Co................... 1,008,900
68,100 Sara Lee Corp.................... 1,545,019
23,699 Unilever N.V..................... 1,653,005
------------
5,581,336
------------
Forest and Paper Products (0.5%):
25,200 Kimberly Clark Corp.............. 1,436,400
------------
Healthcare -- Drugs (9.1%):
64,440 Abbott Laboratories.............. 2,932,020
12,940 ALZA Corp.*...................... 658,322
22,900 Amgen, Inc.*..................... 1,394,037
15,600 Cardinal Health, Inc............. 1,000,350
35,800 Eli Lilly & Co................... 2,564,175
12,500 McKesson HBOC, Inc............... 401,562
97,100 Merck & Co., Inc................. 7,185,400
54,000 Pfizer, Inc...................... 5,926,500
83,400 Schering-Plough Corp............. 4,420,200
------------
26,482,566
------------
Healthcare -- General (7.1%):
51,600 American Home Products Corp...... 2,967,000
9,500 Baxter International, Inc........ 575,937
28,600 Boston Scientific, Inc.*......... 1,256,612
105,700 Bristol-Meyers Squibb Co......... 7,445,244
</TABLE>
13
Continued
<PAGE> 17
- --------------------------------------------------------------------------------
One Group Investment Trust
Large Cap Growth Portfolio
- --------------------------------------------------------------------------------
SCHEDULE OF PORTFOLIO INVESTMENTS, CONTINUED JUNE 30, 1999
(Unaudited)
<TABLE>
<CAPTION>
SHARES
OR
PRINCIPAL MARKET
AMOUNT SECURITY DESCRIPTION VALUE
- ---------- --------------------------------- ------------
<C> <S> <C>
COMMON STOCKS, CONTINUED:
Healthcare -- General, continued:
55,700 Johnson & Johnson................ $ 5,458,600
43,200 Warner-Lambert Co................ 2,997,000
------------
20,700,393
------------
Hospital Supply and Management (1.1%):
6,600 Guidant Corp..................... 339,487
36,800 Medtronic, Inc................... 2,865,800
------------
3,205,287
------------
Household -- General Products (1.7%):
55,000 Procter & Gamble Co.............. 4,908,750
------------
Insurance -- Life (0.3%):
10,000 Providian Financial Corp......... 935,000
------------
Insurance -- Property Casualty (2.4%):
51,500 American International Group,
Inc............................ 6,028,719
9,400 CIGNA Corp....................... 836,600
------------
6,865,319
------------
Publishing (0.3%):
19,700 New York Times Co. Class A....... 725,206
------------
Retail -- Food Stores (0.5%):
44,700 Walgreen Co...................... 1,313,063
------------
Retail -- General (4.3%):
14,500 Dayton Hudson Corp............... 942,500
36,500 Dollar General Corp.............. 1,058,500
18,400 Kohls Corp.*..................... 1,420,250
187,400 Wal-Mart Stores, Inc............. 9,042,050
------------
12,463,300
------------
Retail -- Specialty (2.7%):
34,800 CVS Corp......................... 1,766,100
31,050 GAP, Inc......................... 1,564,144
56,800 Home Depot, Inc.................. 3,660,050
16,600 Tandy Corp....................... 811,325
------------
7,801,619
------------
Security and Commission Broker (2.2%):
15,600 American Express Co.............. 2,029,950
41,200 Freddie Mac...................... 2,389,600
50 Marsh & McLennan Cos., Inc....... 3,775
18,100 Schwab, Charles Corp............. 1,988,738
------------
6,412,063
------------
</TABLE>
<TABLE>
<CAPTION>
SHARES
OR
PRINCIPAL MARKET
AMOUNT SECURITY DESCRIPTION VALUE
- ---------- --------------------------------- ------------
<C> <S> <C>
COMMON STOCKS, CONTINUED:
Timeshare and Software (2.0%):
42,000 America Online, Inc.*............ $ 4,641,000
29,100 Automatic Data Processing,
Inc............................ 1,280,400
------------
5,921,400
------------
Tobacco (1.8%):
130,600 Philip Morris Cos., Inc.......... 5,248,488
------------
Utility -- Gas/Pipeline (0.5%):
6,200 Enron Corp....................... 506,850
25,300 Williams Cos. (The).............. 1,076,831
------------
1,583,681
------------
Utility -- Telephone (5.6%):
50,800 Ameritech Corp................... 3,733,800
87,800 MCI WorldCom, Inc.*.............. 7,556,287
88,200 SBC Communications, Inc.......... 5,115,600
------------
16,405,687
------------
Total Common Stocks 268,634,406
------------
U.S. TREASURY OBLIGATIONS (0.2%):
U.S. Treasury Bills (0.2%):
$ 55,000 8/19/99.......................... 54,670
420,000 9/23/99.......................... 415,551
------------
Total U.S. Treasury Obligations 470,221
------------
INVESTMENT COMPANIES (3.7%):
10,924,714 One Group Prime Money Market
Fund, Class I.................. 10,924,714
------------
REPURCHASE AGREEMENTS (0.7%):
2,000,000 State Street Bank, 4.90%, 7/01/99
(Collateralized by $2,045,000
Federal Farm Credit Bank,
5.13%, 04/02/01, market value
$2,043,110).................... 2,000,000
------------
SHORT-TERM SECURITIES HELD AS COLLATERAL (0.4%):
Repurchase Agreement (0.4%):
1,291,068 Lehman Brothers A2/P2 Tri-Party
5.85%, 7/1/99 (Collateralized
by $1,355,495 Dorada Finance
Commercial Paper, 9/28/99,
market value $1,355,495)....... 1,291,068
------------
Total (Cost $223,723,690)(a) $290,740,609
============
</TABLE>
- ------------
Percentages indicated are based on net assets of $292,607,263.
* Denotes a non-income producing security.
(a) Represents cost for financial reporting purposes and differs from value by
net unrealized appreciation of securities as follows:
<TABLE>
<S> <C>
Unrealized appreciation...................... $69,210,152
Unrealized depreciation...................... (2,193,233)
-----------
Net unrealized appreciation.................. $67,016,919
===========
</TABLE>
14
Continued
<PAGE> 18
- --------------------------------------------------------------------------------
One Group Investment Trust
Large Cap Growth Portfolio
- --------------------------------------------------------------------------------
SCHEDULE OF PORTFOLIO INVESTMENTS, CONTINUED JUNE 30, 1999
(Unaudited)
Cost for federal income tax purposes: $223,759,268.
(b) A portion of this security was loaned as of June 30, 1999.
<TABLE>
<CAPTION>
CURRENT
NUMBER OF OPENING MARKET
CONTRACTS CONTRACT TYPE POSITIONS VALUE
- --------- ------------- ---------- ----------
<C> <S> <C> <C>
24 Long S&P 500, September 1999 Futures $7,920,780 $8,290,200
</TABLE>
See accompanying notes to financial statements.
15
<PAGE> 19
- --------------------------------------------------------------------------------
One Group Investment Trust
Equity Index Portfolio
- --------------------------------------------------------------------------------
SCHEDULE OF PORTFOLIO INVESTMENTS JUNE 30, 1999
(Unaudited)
<TABLE>
<CAPTION>
SHARES
OR
PRINCIPAL MARKET
AMOUNT SECURITY DESCRIPTION VALUE
- --------- ---------------------------------- ------------
<C> <S> <C>
COMMON STOCKS (94.5%):
Air Transportation (0.4%):
500 AMR Corp.*........................ $ 34,125
400 Delta Air Lines, Inc.............. 23,050
900 FDX Corp.*........................ 48,825
950 Southwest Airlines Co............. 29,569
300 U.S. Airways Group, Inc.*......... 13,069
------------
148,638
------------
Aircraft (0.8%):
2,600 Boeing Co., The................... 114,887
1,100 Lockheed Martin Corp.............. 40,975
200 Northrop Grumman Corp............. 13,263
1,200 United Technologies Corp.......... 86,025
------------
255,150
------------
Aluminum (0.3%):
600 Alcan Aluminium Ltd............... 19,162
1,000 Alcoa, Inc........................ 61,875
200 Reynolds Metals Co................ 11,800
------------
92,837
------------
Apparel (0.2%):
100 Fruit of the Loom, Inc.*.......... 975
200 Liz Claiborne, Inc................ 7,300
700 Nike, Inc. Class B................ 44,319
100 Reebok International Ltd.*........ 1,863
100 Russell Corp...................... 1,950
300 V.F. Corp......................... 12,825
------------
69,232
------------
Banks (8.1%):
500 Amsouth Bancorp................... 11,594
900 BB&T Corp......................... 33,019
4792 Bank of America Corp.............. 351,313
2,200 Bank of New York Co., Inc......... 80,712
3,286 Bank One Corp..................... 195,722
900 BankBoston Corp................... 46,012
2,300 Chase Manhattan Corp.............. 199,237
9,425 Citigroup, Inc.................... 447,687
400 Comerica, Inc..................... 23,775
700 Fifth Third Bancorp............... 46,593
2,700 First Union Corp.................. 126,900
1,800 Firstar Corp...................... 50,400
1,600 Fleet Financial Group, Inc........ 71,000
610 Huntington Bancshares, Inc........ 21,350
1,300 KeyCorp........................... 41,763
2,250 MBNA Corp......................... 68,906
1,400 Mellon Bank Corp.................. 50,925
400 Mercantile Bancorp, Inc........... 22,850
400 Morgan, J P & Co., Inc............ 56,200
900 National City Corp................ 58,950
300 Northern Trust Corp............... 29,100
</TABLE>
<TABLE>
<CAPTION>
SHARES
OR
PRINCIPAL MARKET
AMOUNT SECURITY DESCRIPTION VALUE
- --------- ---------------------------------- ------------
<C> <S> <C>
COMMON STOCKS, CONTINUED:
Banks, continued:
900 PNC Bank Corp..................... $ 51,863
600 Regions Financial Corp............ 23,063
300 Republic New York Corp............ 20,456
400 SouthTrust Corp................... 15,350
400 State Street Corp................. 34,150
400 Summit Bancorp.................... 16,725
900 Suntrust Banks, Inc............... 62,494
750 Synovus Financial Corp............ 14,906
400 Union Planters Corp............... 17,875
2,000 US Bancorp Class A................ 68,000
600 Wachovia Corp..................... 51,338
1,618 Washington Mutual, Inc............ 57,237
4,600 Wells Fargo Co.................... 196,650
------------
2,664,115
------------
Beverages (2.4%):
100 Adolph Coors Co. Class B.......... 4,950
1,300 Anheuser-Busch Cos., Inc.......... 92,219
200 Brown-Forman Corp. Class B........ 13,037
6,800 Coca Cola Co...................... 425,000
1,200 Coca-Cola Enterprises, Inc.(b).... 35,700
4,100 PepsiCo, Inc...................... 158,619
1,200 Seagram Co. Ltd................... 60,450
------------
789,975
------------
Broadcasting (2.1%):
2,000 CBS Corp.*........................ 86,875
800 Clear Channel Communications,
Inc.*........................... 55,150
2,000 Comcast Corp. Class A............. 76,875
200 King World Productions, Inc.*..... 6,963
1,700 MediaOne Group, Inc.*............. 126,438
3,400 Time Warner, Inc.................. 249,900
2,000 Viacom, Inc. Class B *............ 88,000
------------
690,201
------------
Business Equipment & Services (1.6%):
400 Browning Ferris Industries........ 17,200
400 Ceridian Corp.*................... 13,075
300 Deluxe Corp....................... 11,681
400 Dun & Bradstreet Corp............. 14,175
300 Ecolab, Inc....................... 13,087
1,300 Electronic Data Systems Corp...... 73,531
1,200 First Data Corp................... 58,725
300 H&R Block, Inc.................... 15,000
300 IKON Office Solutions, Inc........ 4,500
400 Interpublic Group of Cos., Inc.... 34,650
600 Laidlaw, Inc...................... 4,425
200 Moore Corp. Ltd................... 1,675
100 National Service Industries,
Inc............................. 3,600
1,000 Office Depot, Inc.*............... 22,063
400 Omnicom Group..................... 32,000
</TABLE>
16
Continued
<PAGE> 20
- --------------------------------------------------------------------------------
One Group Investment Trust
Equity Index Portfolio
- --------------------------------------------------------------------------------
SCHEDULE OF PORTFOLIO INVESTMENTS, CONTINUED JUNE 30, 1999
(Unaudited)
<TABLE>
<CAPTION>
SHARES
OR
PRINCIPAL MARKET
AMOUNT SECURITY DESCRIPTION VALUE
- --------- ---------------------------------- ------------
<C> <S> <C>
COMMON STOCKS, CONTINUED:
Business Equipment & Services, continued:
700 Pitney Bowes, Inc................. $ 44,975
400 R. R. Donnelley & Sons Co......... 14,825
100 Ryder System, Inc................. 2,600
700 Service Corp. International....... 13,475
1,300 Staples, Inc.*.................... 40,219
1,600 Waste Management, Inc............. 86,000
------------
521,481
------------
Capital Equipment (0.6%):
1,000 Caterpillar, Inc.................. 60,000
100 Cummins Engine Co., Inc........... 5,712
200 Fluor Corp........................ 8,100
100 Foster Wheeler Corp............... 1,412
100 Harnischfeger Industries,
Inc.(b)......................... 200
700 Illinois Tool Works, Inc.......... 57,400
400 Ingersoll-Rand Co................. 25,850
100 Milacron, Inc..................... 1,850
100 NACCO Industries, Inc............. 7,350
200 PACCAR, Inc....................... 10,675
300 Parker-Hannifin Corp.............. 13,725
200 Snap-on, Inc...................... 7,238
300 Thermo Electron Corp.*............ 6,019
100 Timken Co. (The).................. 1,950
------------
207,481
------------
Chemicals -- Specialty (0.4%):
600 Air Products & Chemicals, Inc..... 24,150
300 Avery Dennison Corp............... 18,112
300 Eastman Chemical Co............... 15,525
300 Engelhard Corp.................... 6,787
200 Great Lakes Chemical Corp......... 9,212
200 Nalco Chemical Co................. 10,375
200 Pall Corp......................... 4,438
400 Praxair, Inc...................... 19,575
300 Sigma-Aldrich Corp................ 10,331
------------
118,505
------------
Chemicals -- Petroleum & Inorganic (1.3%):
600 Dow Chemical Co................... 76,125
3,200 Du Pont (E.I.) De Nemours & Co.... 218,600
200 Goodrich (B.F.) Co.(b)............ 8,500
300 Hercules, Inc..................... 11,794
1,700 Monsanto Co....................... 67,044
511 Rohm & Haas Co.................... 21,893
400 Union Carbide Corp................ 19,500
100 W.R. Grace & Co.*................. 1,837
------------
425,293
------------
Communication Equipment (4.5%):
1,000 3Com Corp.*....................... 26,688
200 Andrew Corp.*..................... 3,787
</TABLE>
<TABLE>
<CAPTION>
SHARES
OR
PRINCIPAL MARKET
AMOUNT SECURITY DESCRIPTION VALUE
- --------- ---------------------------------- ------------
<C> <S> <C>
COMMON STOCKS, CONTINUED:
Communication Equipment, continued:
600 BMC Software, Inc.*............... $ 32,400
300 Cabletron System, Inc.*........... 3,900
8,800 Cisco Systems, Inc.*.............. 567,050
400 General Instrument Corp.*......... 17,000
300 Harris Corp....................... 11,756
8,290 Lucent Technologies, Inc.......... 559,057
1,860 Nortel Networks Corp.............. 161,471
900 Novell, Inc.*..................... 23,850
200 Scientific-Atlanta, Inc........... 7,200
1,100 Tellabs, Inc.*.................... 74,319
------------
1,488,478
------------
Computers -- Main/Mini (3.4%):
200 Data General Corp.*............... 2,912
2,800 Hewlett-Packard Co................ 281,400
5,200 International Business Machines
Corp............................ 672,100
400 Silicon Graphics, Inc.*........... 6,550
700 Unisys Corp.*..................... 27,256
1,900 Xerox Corp........................ 112,219
------------
1,102,437
------------
Computers -- Micro (1.7%):
400 Apple Computer, Inc.*(b).......... 18,525
4,594 Compaq Computer Corp.............. 108,820
7,100 Dell Computer Corp.*.............. 262,700
400 Gateway, Inc.*.................... 23,600
2,100 Sun Microsystems, Inc.*........... 144,638
------------
558,283
------------
Computers -- Peripheral (5.3%):
200 Adobe Systems, Inc................ 16,431
100 Autodesk, Inc..................... 2,956
1,500 Computer Associates International,
Inc............................. 82,500
1,000 Compuware Corp.*.................. 31,812
2,900 EMC Corp.*........................ 159,500
13,900 Microsoft Corp.*.................. 1,253,606
200 Network Appliance, Inc.*.......... 11,175
3,950 Oracle Corp.*..................... 146,644
500 Parametric Technology*............ 6,938
600 PeopleSoft, Inc.*................. 10,350
700 Seagate Technology*............... 17,938
------------
1,739,850
------------
Construction Materials (0.2%):
300 Black & Decker Corp.(b)........... 18,937
150 Crane Co.......................... 4,716
100 Owens Corning..................... 3,438
500 PPG Industries, Inc............... 29,531
</TABLE>
17
Continued
<PAGE> 21
- --------------------------------------------------------------------------------
One Group Investment Trust
Equity Index Portfolio
- --------------------------------------------------------------------------------
SCHEDULE OF PORTFOLIO INVESTMENTS, CONTINUED JUNE 30, 1999
(Unaudited)
<TABLE>
<CAPTION>
SHARES
OR
PRINCIPAL MARKET
AMOUNT SECURITY DESCRIPTION VALUE
- --------- ---------------------------------- ------------
<C> <S> <C>
COMMON STOCKS, CONTINUED:
Construction Materials, continued:
300 Sherwin-Williams Co............... $ 8,325
300 Stanley Works (The)............... 9,656
------------
74,603
------------
Containers (0.1%):
100 Ball Corp......................... 4,225
100 Bemis, Inc........................ 3,975
300 Crown Cork & Seal Co., Inc........ 8,550
------------
16,750
------------
Cosmetic/Toiletry (0.5%):
700 Avon Products, Inc................ 38,850
3,000 Gillette Company (The)............ 123,000
300 International Flavor and
Fragrances, Inc.(b)............. 13,313
------------
175,163
------------
Defense (0.4%):
100 EG&G, Inc......................... 3,562
300 General Dynamics Corp.(b)......... 20,550
900 Raytheon Co. Class B.............. 63,338
600 Rockwell International Corp....... 36,450
------------
123,900
------------
Electrical Equipment (4.3%):
300 Cooper Industries, Inc............ 15,600
600 Dover Corp.(b).................... 21,000
1,200 Emerson Electric Co............... 75,450
9,100 General Electric Co............... 1,028,300
300 Grainger (W.W.), Inc.............. 16,144
300 Honeywell, Inc.................... 34,763
300 Johnson Controls, Inc............. 20,794
2,276 Tyco International Ltd............ 215,651
------------
1,427,702
------------
Electronic Components (3.0%):
300 Advanced Micro Devices, Inc.*..... 5,419
9,300 Intel Corp........................ 553,350
400 LSI Logic Corp.*.................. 18,450
700 Micron Technolgy, Inc.*........... 28,219
1,700 Motorola, Inc..................... 161,075
300 National Semiconductor*........... 7,594
200 Raychem Corp...................... 7,400
700 Solectron Corp.*.................. 46,681
1,000 Texas Instruments, Inc............ 145,000
100 Thomas & Betts Corp............... 4,725
------------
977,913
------------
Electronic Instruments (0.3%):
1,000 Applied Materials, Inc.*.......... 73,875
300 KLA-Tencor Corp.*................. 19,463
</TABLE>
<TABLE>
<CAPTION>
SHARES
OR
PRINCIPAL MARKET
AMOUNT SECURITY DESCRIPTION VALUE
- --------- ---------------------------------- ------------
<C> <S> <C>
COMMON STOCKS, CONTINUED:
Electronic Instruments, continued:
100 PE Corp. -- PE Biosystems Group... $ 11,475
100 Tektronix, Inc.................... 3,019
------------
107,832
------------
Farm Machinery (0.1%):
200 Case Corp......................... 9,625
700 Deere & Co........................ 27,737
200 Navistar International Corp.*..... 10,000
------------
47,362
------------
Finance Companies (0.6%):
2,000 Associates First Capital Corp..... 88,625
500 Capital One Financial Corp........ 27,844
300 Countrywide Credit Industries,
Inc............................. 12,825
1,306 Household International, Inc...... 61,872
------------
191,166
------------
Food & Related (1.9%):
1,615 Archer-Daniels Midland Co......... 24,931
700 BestFoods......................... 34,650
1,300 Campbell Soup Co.................. 60,287
1,300 ConAgra, Inc...................... 34,612
400 General Mills, Inc................ 32,150
1,000 Heinz (H.J.) Co................... 50,125
400 Hershey Foods Corp................ 23,750
1,100 Kellogg Co........................ 36,300
900 Nabisco Group Holdings Corp....... 17,606
700 Pioneer Hi-Bred International,
Inc............................. 27,256
400 Quaker Oats Co.................... 26,550
900 Ralston-Ralston Purina Group...... 27,394
2,500 Sara Lee Corp..................... 56,719
200 Supervalu, Inc.................... 5,138
900 Sysco Corp........................ 26,831
1,571 Unilever NV N.Y. Shares........... 109,577
300 Wrigley (Wm.) Jr. Co.............. 27,000
------------
620,876
------------
Forest/Paper Products (0.9%):
100 Boise Cascade Corp................ 4,287
300 Champion International Corp....... 14,362
600 Georgia Pacific Corp.............. 28,425
1,148 International Paper Co............ 57,974
1,500 Kimberly Clark Corp............... 85,500
200 Louisiana-Pacific Corp............ 4,750
300 Mead Corp......................... 12,525
400 Owens-Illinois, Inc.*............. 13,075
100 Potlatch Corp..................... 4,394
300 Sealed Air Corp.*................. 19,463
100 Temple-Inland, Inc................ 6,825
200 Westvaco Corp..................... 5,800
</TABLE>
18
Continued
<PAGE> 22
- --------------------------------------------------------------------------------
One Group Investment Trust
Equity Index Portfolio
- --------------------------------------------------------------------------------
SCHEDULE OF PORTFOLIO INVESTMENTS, CONTINUED JUNE 30, 1999
(Unaudited)
<TABLE>
<CAPTION>
SHARES
OR
PRINCIPAL MARKET
AMOUNT SECURITY DESCRIPTION VALUE
- --------- ---------------------------------- ------------
<C> <S> <C>
COMMON STOCKS, CONTINUED:
Forest/Paper Products, continued:
600 Weyerhauser Co.................... $ 41,250
300 Willamette Industries, Inc........ 13,819
------------
312,449
------------
Furniture (0.1%):
100 Armstrong World Industries,
Inc............................. 5,781
1,000 Masco Corp........................ 28,875
------------
34,656
------------
Gold/Precious Metals (0.1%):
1,000 Barrick Gold Corp................. 19,375
400 Battle Mountain Gold Co........... 975
500 Homestake Mining Co............... 4,094
500 Placer Dome, Inc.................. 5,906
------------
30,350
------------
Health Care -- Drugs (5.5%):
4,200 Abbott Laboratories............... 191,100
200 Allergan, Inc..................... 22,200
300 ALZA Corp.*....................... 15,262
1,400 Amgen, Inc.*...................... 85,225
750 Cardinal Health, Inc.............. 48,094
3,000 Eli Lilly & Co.................... 214,875
722 McKesson HBOC, Inc................ 23,194
6,600 Merck & Co., Inc.................. 488,400
100 Millipore Corp.................... 4,056
50 PE Corp. -- Celera Genomics
Group*.......................... 809
3,600 Pfizer, Inc....................... 395,100
1,400 Pharmacia Upjohn, Inc............. 79,538
4,100 Schering-Plough Corp.............. 217,300
200 Watson Pharmaceuticals, Inc.*..... 7,013
------------
1,792,166
------------
Health Care -- General (3.9%):
3,600 American Home Products Corp....... 207,000
100 Bausch & Lomb, Inc................ 7,650
700 Baxter International, Inc......... 42,437
700 Becton, Dickinson and Co.......... 21,000
300 Biomet, Inc....................... 11,925
1,100 Boston Scientific, Inc.*.......... 48,331
5,500 Bristol-Meyers Squibb Co.......... 387,406
3,800 Johnson & Johnson................. 372,400
200 Mallinckrodt, Inc................. 7,275
300 St. Jude Medical, Inc.*........... 10,688
2,300 Warner-Lambert Co................. 159,563
------------
1,275,675
------------
Home Building/Mobile Homes (0.1%):
200 Centex Corp.(b)................... 7,512
100 Fleetwood Enterprises, Inc........ 2,644
</TABLE>
<TABLE>
<CAPTION>
SHARES
OR
PRINCIPAL MARKET
AMOUNT SECURITY DESCRIPTION VALUE
- --------- ---------------------------------- ------------
<C> <S> <C>
COMMON STOCKS, CONTINUED:
Home Building, Mobil Homes, continued:
100 Kaufman & Broad Home Corp......... $ 2,488
100 Pulte Corp........................ 2,306
------------
14,950
------------
Hospital Supply & Management (1.2%):
400 Aetna, Inc........................ 35,775
100 Bard (C.R.), Inc.................. 4,781
1,800 Columbia/HCA Healthcare Corp...... 41,062
900 Guidant Corp...................... 46,294
200 HCR Manor Care, Inc.*............. 4,837
1,200 HealthSouth Corp.*................ 17,925
300 Humana, Inc.*..................... 3,881
900 IMS Health, Inc................... 28,125
63 LifePoint Hospitals, Inc.*........ 847
1,600 Medtronic, Inc.................... 124,600
100 Shared Medical Systems, Corp...... 6,525
900 Tenet Healthcare Corp.*........... 16,706
63 Triad Hospitals, Inc.*............ 851
600 United HeathCare Corp............. 37,575
300 Wellpoint Health Networks,
Inc.*........................... 25,463
------------
395,247
------------
Hotels & Gaming (0.1%):
200 Harrah's Entertainment*........... 4,400
500 Hilton Hotels Corp................ 7,094
700 Marriott International, Inc. Class
A............................... 26,163
500 Mirage Resorts, Inc.*............. 8,375
------------
46,032
------------
Household -- General Products (1.6%):
100 American Greetings Corp. Class
A............................... 3,012
300 Clorox Co. 32,044
900 Colgate-Palmolive Co.............. 88,875
600 Fort James Corp................... 22,725
400 Fortune Brands, Inc............... 16,550
100 Jostens, Inc...................... 2,106
657 Newell Co.(b)..................... 30,551
3,600 Procter & Gamble Co............... 321,300
100 Tupperware Corp................... 2,550
------------
519,713
------------
Household -- Major Appliances (0.1%):
300 Maytag Corp....................... 20,906
200 Whirlpool Corp.................... 14,800
------------
35,706
------------
Insurance -- Life (0.7%):
200 AFLAC, Inc........................ 9,575
700 American General Corp............. 52,762
650 AON Corp.......................... 26,812
891 Conseco, Inc...................... 27,120
</TABLE>
19
Continued
<PAGE> 23
- --------------------------------------------------------------------------------
One Group Investment Trust
Equity Index Portfolio
- --------------------------------------------------------------------------------
SCHEDULE OF PORTFOLIO INVESTMENTS, CONTINUED JUNE 30, 1999
(Unaudited)
<TABLE>
<CAPTION>
SHARES
OR
PRINCIPAL MARKET
AMOUNT SECURITY DESCRIPTION VALUE
- --------- ---------------------------------- ------------
<C> <S> <C>
COMMON STOCKS, CONTINUED:
Insurance -- Life, continued:
300 Jefferson-Pilot Corp.............. $ 19,856
400 Provident Cos., Inc............... 16,000
350 Providian Corp.................... 32,725
400 Torchmark Corp.................... 13,650
300 Transamerica Corp................. 22,500
400 UNUM Corp.*....................... 21,900
------------
242,900
------------
Insurance -- Property/Casualty (2.4%):
2,300 Allstate Corp..................... 82,512
3,456 American International Group,
Inc............................. 404,568
400 Chubb Corp........................ 27,800
600 CIGNA Corp........................ 53,400
400 Cincinnati Financial Corp......... 15,025
600 Hartford Financial Services Group,
Inc............................. 34,988
600 Lincoln National Corp............. 31,388
300 Loews Corp........................ 23,738
300 MBIA, Inc......................... 19,425
300 MGIC Investment Corp.............. 14,588
200 Progressive Corp.................. 29,000
400 SAFECO Corp....................... 17,650
700 St. Paul Cos., Inc.(b)............ 22,269
------------
776,351
------------
Leisure Time Industry (1.1%):
200 Brunswick Corp.................... 5,575
1,700 Carnival Corp. Class A............ 82,450
2,300 Cendant Corp.*.................... 47,150
600 Hasbro, Inc....................... 16,763
1,000 Mattel, Inc....................... 26,438
5,700 Walt Disney Co.................... 175,631
------------
354,007
------------
Mining (0.1%):
100 Asarco, Inc....................... 1,881
200 Cyprus Amax Minerals Co........... 3,037
300 Freeport-McMoRan Copper & Gold,
Inc............................. 5,381
500 Inco Ltd.......................... 9,000
300 Newmont Mining Corp............... 5,963
100 Phelps Dodge Corp................. 6,194
------------
31,456
------------
Motor Vehicle Parts (0.4%):
300 Autozone, Inc.*................... 9,037
392 Dana Corp......................... 18,056
400 Danaher Corp...................... 23,250
1,409 Delphi Automotive Systems Corp.... 26,146
200 Eaton Corp........................ 18,400
</TABLE>
<TABLE>
<CAPTION>
SHARES
OR
PRINCIPAL MARKET
AMOUNT SECURITY DESCRIPTION VALUE
- --------- ---------------------------------- ------------
<C> <S> <C>
COMMON STOCKS, CONTINUED:
Motor Vehicle Parts, continued:
500 Genuine Parts Co.................. $ 17,500
300 ITT Industries, Inc............... 11,438
------------
123,827
------------
Motor Vehicles (0.9%):
3,300 Ford Motor Co..................... 186,244
1,900 General Motors Corp............... 125,400
------------
311,644
------------
Multiple Industry (0.9%):
1,600 Allied-Signal, Inc................ 100,800
600 Corning, Inc.(b).................. 42,075
100 FMC Corp.*........................ 6,831
200 Harcourt General, Inc............. 10,312
1,100 Minnesota Mining & Manufacturing
Co.............................. 95,631
400 Textron, Inc...................... 32,925
300 TRW, Inc.......................... 16,463
------------
305,037
------------
Petroleum -- Domestic (0.8%):
300 Anadarko Petroleum Corp........... 11,044
300 Apache Corp....................... 11,700
200 Ashland, Inc...................... 8,025
900 Atlantic Richfield Co............. 75,206
500 Burlington Resources, Inc......... 21,625
236 Kerr Mcgee Corp................... 11,844
1,000 Occidental Petroleum Corp......... 21,125
700 Phillips Petroleum Co............. 35,219
200 Sunoco, Inc....................... 6,038
300 Tenneco, Inc...................... 7,163
500 Union Pacific Resources Group,
Inc............................. 8,156
700 Unocal Corp....................... 27,738
900 USX-Marathon Group................ 29,306
------------
274,189
------------
Petroleum -- International (4.2%):
300 Amerada Hess Corp................. 17,850
1,900 Chevron Corp...................... 180,856
6,800 Exxon Corp........................ 524,450
2,200 Mobil Corp........................ 217,800
5,900 Royal Dutch Petroleum Co.......... 355,475
1,500 Texaco, Inc....................... 93,750
------------
1,390,181
------------
Petroleum Services (0.6%):
970 Baker Hughes, Inc................. 32,495
1,200 Halliburton Co.................... 54,300
100 Helmerich & Payne, Inc............ 2,381
100 McDermott International, Inc...... 2,825
</TABLE>
20
Continued
<PAGE> 24
- --------------------------------------------------------------------------------
One Group Investment Trust
Equity Index Portfolio
- --------------------------------------------------------------------------------
SCHEDULE OF PORTFOLIO INVESTMENTS, CONTINUED JUNE 30, 1999
(Unaudited)
<TABLE>
<CAPTION>
SHARES
OR
PRINCIPAL MARKET
AMOUNT SECURITY DESCRIPTION VALUE
- --------- ---------------------------------- ------------
<C> <S> <C>
COMMON STOCKS, CONTINUED:
Petroleum Services, continued:
200 Rowan Cos., Inc.*................. $ 3,688
1,500 Schlumberger Ltd.................. 95,531
------------
191,220
------------
Photo Equipment (0.2%):
900 Eastman Kodak Co.................. 60,975
100 Polaroid Corp..................... 2,763
------------
63,738
------------
Publishing (0.5%):
300 Dow Jones & Co., Inc.............. 15,919
700 Gannett Co., Inc.................. 49,962
300 Knight-Ridder, Inc.(b)............ 16,481
600 McGraw-Hill Cos., Inc............. 32,363
100 Meredith Corp..................... 3,463
500 New York Times Co. Class A........ 18,406
300 Times Mirror Co. (The)............ 17,775
300 Tribune Co........................ 26,138
------------
180,507
------------
Railroad (0.5%):
1,300 Burlington Northern Santa Fe
Corp............................ 40,300
600 CSX Corp.......................... 27,187
200 Kansas City Southern Industries,
Inc............................. 12,763
1,000 Norfolk Southern Corp............. 30,125
700 Union Pacific Corp................ 40,819
------------
151,194
------------
Restaurants (0.6%):
300 Darden Restaurants, Inc........... 6,544
3,800 McDonald's Corp................... 156,988
400 Tricon Global Restaurants,
Inc.*........................... 21,650
200 Wendy's International, Inc........ 5,663
------------
190,845
------------
Retail -- Food Stores (0.9%):
1,141 Albertson's, Inc.(b).............. 58,833
100 The Great Atlantic & Pacific Tea
Co., Inc........................ 3,381
2,400 Kroger Co.*....................... 67,050
100 Longs Drug Stores Corp............ 3,456
700 Rite Aid Corp..................... 17,238
1,300 Safeway, Inc.*.................... 64,350
2,800 Walgreen Co....................... 82,250
400 Winn-Dixie Stores, Inc............ 14,775
------------
311,333
------------
Retail -- General Merchandise (3.0%):
600 Costco Cos., Inc.*................ 48,037
1,200 Dayton Hudson Corp................ 78,000
300 Dillard's, Inc.................... 10,537
606 Dollar General Corp............... 17,574
</TABLE>
<TABLE>
<CAPTION>
SHARES
OR
PRINCIPAL MARKET
AMOUNT SECURITY DESCRIPTION VALUE
- --------- ---------------------------------- ------------
<C> <S> <C>
COMMON STOCKS, CONTINUED:
Retail -- General Merchandise, continued:
600 Federated Department Stores,
Inc.*........................... $ 31,762
700 J. C. Penney Company, Inc......... 33,994
1,300 Kmart Corp.*...................... 21,369
400 Kohls Corp.*...................... 30,875
900 May Department Stores Co.......... 36,788
400 Nordstrom, Inc.................... 13,400
1,000 Sears, Roebuck & Co............... 44,563
900 TJX Cos., Inc..................... 29,981
12,400 Wal-Mart Stores, Inc.............. 598,300
------------
995,180
------------
Retail -- Specialty (1.9%):
500 Best Buy Co., Inc.*............... 33,750
300 Circuit City Stores -- Circuit
City Group...................... 27,900
200 Consolidated Stores Corp.*........ 5,400
1,000 CVS Corp.......................... 50,750
2,400 Gap, Inc.......................... 120,900
4,100 Home Depot, Inc................... 264,194
600 The Limited, Inc.(b).............. 27,225
1,000 Lowe's Cos........................ 56,688
200 The Pep Boys -- Manny, Moe &
Jack............................ 4,325
600 Tandy Corp........................ 29,325
700 Toys 'R' Us, Inc.*................ 14,481
------------
634,938
------------
Savings & Loans (0.1%):
100 Golden West Financial Corp........ 9,800
------------
Security & Commercial Brokers (3.0%):
1,300 American Express Co............... 169,162
310 Bear Stearns Cos., Inc............ 14,492
2,900 Fannie Mae........................ 198,287
700 Franklin Resources, Inc........... 28,437
1,900 Freddie Mac....................... 110,200
300 Lehman Brothers Holding........... 18,675
650 Marsh & McLennan Cos., Inc........ 49,075
1,000 Merrill Lynch & Co., Inc.......... 79,938
1,600 Morgan Stanley Dean Witter &
Co.............................. 164,000
100 Paine Webber Group, Inc........... 4,675
1,050 Schwab, Charles Corp.............. 115,369
400 Student Loan Market Association... 18,325
------------
970,635
------------
Steel (0.1%):
600 Allegheny Teledyne, Inc........... 13,575
200 Bethlehem Steel Corp.*............ 1,537
300 Nucor Corp........................ 14,231
200 USX-U.S. Steel Group, Inc......... 5,400
200 Worthington Industries, Inc....... 3,288
------------
38,031
------------
</TABLE>
21
Continued
<PAGE> 25
- --------------------------------------------------------------------------------
One Group Investment Trust
Equity Index Portfolio
- --------------------------------------------------------------------------------
SCHEDULE OF PORTFOLIO INVESTMENTS, CONTINUED JUNE 30, 1999
(Unaudited)
<TABLE>
<CAPTION>
SHARES
OR
PRINCIPAL MARKET
AMOUNT SECURITY DESCRIPTION VALUE
- --------- ---------------------------------- ------------
<C> <S> <C>
COMMON STOCKS, CONTINUED:
Timeshare & Software (1.4%):
2,900 America Online, Inc.*............. $ 320,450
1,700 Automatic Data Processing, Inc.... 74,800
400 Computer Science Corp.*........... 27,675
400 Equifax, Inc...................... 14,275
6 Momentum Business Applications,
Inc.*........................... 42
650 Paychex, Inc...................... 20,719
------------
457,961
------------
Tires/Rubber Products (0.1%):
100 Cooper Tire and Rubber Co......... 2,362
400 Goodyear Tire & Rubber Co......... 23,525
------------
25,887
------------
Tobacco (0.9%):
6,800 Philip Morris Cos., Inc........... 273,275
200 R. J. Reynolds Tobacco Holdings,
Inc.*........................... 6,300
600 UST, Inc.......................... 17,550
------------
297,125
------------
Utilities -- Electric (1.8%):
500 AES Corp.*........................ 29,062
400 Ameren Corp....................... 15,350
600 American Electric Power Company,
Inc............................. 22,537
100 CMS Energy Corp................... 4,187
400 Carolina Power & Light Co......... 17,125
600 Central & Southwest Corp.......... 14,025
400 Cinergy Corp...................... 12,800
600 Consolidated Edison, Inc.(b)...... 27,150
300 Constellation Energy Group,
Inc............................. 8,887
400 DTE Energy Corp................... 16,000
600 Dominion Resources, Inc........... 25,987
1,000 Duke Power Co..................... 54,375
1,000 Edison International.............. 26,750
700 Entergy Corp...................... 21,875
500 FPL Group, Inc.................... 27,312
300 GPU, Inc.......................... 12,656
300 New Century Energies, Inc......... 11,644
400 Niagara Mohawk Power Corp.*....... 6,425
300 Northern States Power Co.......... 7,256
1,000 PG&E Corp......................... 32,500
300 PP&L Resources, Inc............... 9,225
900 PacificCorp....................... 16,538
600 PECO Energy Co.................... 25,125
600 Public Service Enterprise Group,
Inc............................. 24,525
700 Reliant Energy, Inc............... 19,338
1,900 Southern Co....................... 50,350
</TABLE>
<TABLE>
<CAPTION>
SHARES
OR
PRINCIPAL MARKET
AMOUNT SECURITY DESCRIPTION VALUE
- --------- ---------------------------------- ------------
<C> <S> <C>
COMMON STOCKS, CONTINUED:
Utilities -- Electric, continued:
700 Texas Utilities Co................ $ 28,875
600 Unicom Corp....................... 23,138
------------
591,017
------------
Utilities -- Gas/Pipeline (0.8%):
600 Coastal Corp. (The)............... 24,000
250 Columbia Energy Group............. 15,672
300 Consolidated National Gas Co...... 18,225
100 Eastern Enterprises............... 3,975
900 Enron Corp........................ 73,575
700 FirstEnergy Corp.................. 21,700
100 NICOR, Inc........................ 3,806
100 ONEOK, Inc........................ 3,175
100 People's Energy Corp.............. 3,769
700 Sempra Energy..................... 15,838
300 Sonat, Inc........................ 9,938
1,200 Williams Cos., (The).............. 51,075
------------
244,748
------------
Utilities -- Telephone (8.5%):
700 Alltel Corp....................... 50,050
3,000 Ameritech Corp.................... 220,500
8,764 AT&T Corp......................... 489,168
4,300 Bell Atlantic Co.................. 281,112
5,400 Bellsouth Corp.................... 253,125
550 CenturyTel, Inc................... 21,862
400 Frontier Corp..................... 23,600
2,700 GTE Corp.......................... 204,525
5,070 MCI WorldCom, Inc.*............... 436,337
800 Nextel Communication*(b).......... 40,150
5,500 SBC Communications, Inc........... 319,000
2,600 Sprint Corp....................... 137,313
1,250 Sprint PCS Group, Inc.*........... 71,406
1,405 U S West Communications Group..... 82,544
800 Vodaphone Airtouch PLC ADR........ 157,600
------------
2,788,292
------------
Total Common Stocks 31,044,210
------------
PREFERRED STOCKS (0.1%):
Cosmetic -- Toiletry:
100 Alberto Culver Class B............ 2,663
------------
U.S. TREASURY OBLIGATIONS (1.7%)
U.S. Treasury Bills (1.7%)
$145,000 07/22/99.......................... 144,627
415,000 08/19/99.......................... 412,509
------------
Total U.S. Treasury Obligations 557,136
------------
INVESTMENT COMPANIES (3.7%)
1,213,487 One Group Prime Money Market Fund,
Class I......................... 1,213,487
------------
</TABLE>
22
Continued
<PAGE> 26
- --------------------------------------------------------------------------------
One Group Investment Trust
Equity Index Portfolio
- --------------------------------------------------------------------------------
SCHEDULE OF PORTFOLIO INVESTMENTS, CONTINUED JUNE 30, 1999
(Unaudited)
<TABLE>
<CAPTION>
SHARES
OR
PRINCIPAL MARKET
AMOUNT SECURITY DESCRIPTION VALUE
- --------- ---------------------------------- ------------
<C> <S> <C>
SHORT-TERM SECURITIES HELD AS COLLATERAL (0.7%):
Repurchase Agreement (0.7%):
$241,741 Lehman Brothers A2/P2 Tri-Party
5.85%, 7/1/99 (Collateralized by
$254,290 Dorada Finance
Commercial Paper, 9/28/99,
market value $254,290).......... $ 241,741
------------
Total (Cost $29,619,686)(a) $ 33,059,237
============
</TABLE>
- ------------
Percentages indicated are based on net assets of $32,840,758.
* Denotes a non-income producing security.
(a) Represents cost for financial reporting purposes and differs from value by
net unrealized appreciation of securities as follows:
<TABLE>
<S> <C>
Unrealized appreciation...................... $3,949,531
Unrealized depreciation...................... (509,980)
----------
Net unrealized appreciation.................. $3,439,551
==========
</TABLE>
Cost for federal income tax purposes: $29,623,690.
(b) A portion of this security was loaned as of June 30, 1999.
<TABLE>
<CAPTION>
CURRENT
NUMBER OF OPENING MARKET
CONTRACTS CONTRACT TYPE POSITIONS VALUE
- --------- ------------- ---------- ----------
<C> <S> <C> <C>
4 Long S&P 500, September 1999 Futures $1,345,780 $1,381,700
</TABLE>
See accompanying notes to financial statements.
23
Continued
<PAGE> 27
- --------------------------------------------------------------------------------
One Group Investment Trust
Diversified Equity Portfolio
- --------------------------------------------------------------------------------
SCHEDULE OF PORTFOLIO INVESTMENTS JUNE 30, 1999
(Unaudited)
<TABLE>
<CAPTION>
SHARES
OR
PRINCIPAL MARKET
AMOUNT SECURITY DESCRIPTION VALUE
- ---------- ---------------------------------- -----------
<C> <S> <C>
COMMON STOCKS (97.1%):
Aircrafts (2.6%):
24,300 Boeing Co. (The).................. $ 1,073,756
4,050 Cordant Technologies, Inc......... 183,009
10,000 Lockheed Martin Corp.............. 372,500
-----------
1,629,265
-----------
Apparel (1.3%):
7,800 Jones Apparel Group, Inc.*........ 267,638
4,600 NIKE, Inc. Class B................ 291,238
10,000 Warnaco Group, Inc. (The)......... 267,500
-----------
826,376
-----------
Banks (9.6%):
18,900 Bank of America Corp.............. 1,385,606
10,000 Charter One Financial, Inc........ 278,125
21,150 Citigroup, Inc.................... 1,004,625
15,100 First Union Corp.................. 709,700
13,600 National City Corp................ 890,800
6,530 Pacific Century Financial Corp.... 140,803
37,200 Wells Fargo Co.................... 1,590,300
-----------
5,999,959
-----------
Beverages (0.8%):
7,000 Anheuser-Busch Cos., Inc.......... 496,562
-----------
Broadcasting (1.3%):
10,800 Time Warner, Inc.................. 793,800
-----------
Business Equipment & Services (0.2%):
7,320 Office Depot, Inc.*............... 161,498
-----------
Chemicals -- Petroleum & Inorganic (1.2%):
8,500 Du Pont (E.I.) De Nemours & Co.... 580,656
7,710 Lyondell Chemical Co.............. 159,019
-----------
739,675
-----------
Chemicals -- Specialty (0.9%):
5,520 Cytec Industries, Inc.*........... 175,950
11,760 RPM, Inc.......................... 166,845
5,740 Sigma-Aldrich Corp................ 197,671
-----------
540,466
-----------
Communication Equipment (3.8%):
6,600 BMC Software, Inc.*............... 356,400
16,000 Cisco Systems, Inc.*.............. 1,031,000
15,030 Lucent Technologies, Inc.......... 1,013,586
-----------
2,400,986
-----------
</TABLE>
<TABLE>
<CAPTION>
SHARES
OR
PRINCIPAL MARKET
AMOUNT SECURITY DESCRIPTION VALUE
- ---------- ---------------------------------- -----------
<C> <S> <C>
COMMON STOCKS, CONTINUED:
Computers -- Main/Mini (4.3%):
6,530 Hewlett-Packard Co................ $ 656,265
15,800 International Business Machines
Corp............................ 2,042,150
-----------
2,698,415
-----------
Computers -- Micro (1.8%):
25,900 Dell Computer Corp.*.............. 958,300
4,950 Tech Data Corp.*.................. 189,338
-----------
1,147,638
-----------
Computers -- Peripheral (5.8%):
14,000 American Power Conversion
Corp.*.......................... 281,750
11,720 EMC Corp.*........................ 644,600
30,260 Microsoft Corp.*.................. 2,729,074
-----------
3,655,424
-----------
Cosmetics -- Toiletry (0.3%):
5,860 Revlon, Inc. Class A*............. 177,265
-----------
Electrical Equipment (5.7%):
9,000 General Electric Co............... 1,017,000
15,700 Johnson Controls, Inc............. 1,088,206
6,450 Mark IV Industries. Inc........... 136,256
7,800 Tyco International Ltd............ 739,050
14,700 York International Corp........... 629,344
-----------
3,609,856
-----------
Electronic Components (3.1%):
22,965 Intel Corp........................ 1,366,418
5,890 Maxim Integrated Products,
Inc.*........................... 391,685
4,340 SCI Systems, Inc.*................ 206,150
-----------
1,964,253
-----------
Electronic Instruments (0.6%):
4,750 Applied Materials, Inc.*.......... 350,906
-----------
Food & Related (4.5%):
23,800 Bestfoods......................... 1,178,100
15,000 ConAgra, Inc...................... 399,375
44,800 Sara Lee Corp..................... 1,016,400
5,420 U.S. Foodservice*................. 231,028
-----------
2,824,903
-----------
Forest/Paper Products (2.9%):
4,470 Georgia-Pacific Corp.............. 211,766
28,100 Kimberly-Clark Corp............... 1,601,700
-----------
1,813,466
-----------
Furniture/Furnishings (0.6%):
12,320 Masco Corp........................ 355,740
-----------
</TABLE>
24
Continued
<PAGE> 28
- --------------------------------------------------------------------------------
One Group Investment Trust
Diversified Equity Portfolio
- --------------------------------------------------------------------------------
SCHEDULE OF PORTFOLIO INVESTMENTS, CONTINUED JUNE 30, 1999
(Unaudited)
<TABLE>
<CAPTION>
SHARES
OR
PRINCIPAL MARKET
AMOUNT SECURITY DESCRIPTION VALUE
- ---------- ---------------------------------- -----------
<C> <S> <C>
COMMON STOCKS, CONTINUED:
Healthcare -- Drugs (4.0%):
19,800 Abbott Laboratories............... $ 900,900
3,800 Cardinal Health, Inc.............. 243,675
22,400 Schering-Plough Corp.............. 1,187,200
5,140 Watson Pharmaceuticals, Inc.*..... 180,221
-----------
2,511,996
-----------
Healthcare -- General (6.4%):
29,900 American Home Products Corp....... 1,719,250
4,870 Boston Scientific Corp.*.......... 213,976
29,800 Bristol-Myers Squibb Co........... 2,099,037
-----------
4,032,263
-----------
Hotels & Gaming (0.4%):
5,270 MGM Grand, Inc.*.................. 258,230
-----------
Household -- General Products (0.6%):
7,990 Newell Rubbermaid, Inc............ 371,535
-----------
Insurance -- Property & Casualty (4.7%):
12,300 American International Group,
Inc............................. 1,439,869
9,600 Chubb Corp........................ 667,200
4,600 CIGNA Corp........................ 409,400
7,500 Hartford Financial Services Group,
Inc. (The)...................... 437,344
-----------
2,953,813
-----------
Leisure Time Industry (1.1%):
12,740 Hasbro, Inc....................... 355,924
12,100 Mattel, Inc....................... 319,894
-----------
675,818
-----------
Motor Vehicles (1.0%):
6,570 Ford Motor Co..................... 370,794
3,720 General Motors Corp............... 245,520
-----------
616,314
-----------
Motor Vehicles Parts (0.4%):
3,370 SPX Corp.*........................ 281,395
-----------
Oil -- International (3.3%):
16,500 Exxon Corp........................ 1,272,562
3,840 Mobil Corp........................ 380,160
6,800 Texaco, Inc....................... 425,000
-----------
2,077,722
-----------
Oil & Gas / Integrated (0.1%):
115 BP Amoco PLC ADR.................. 12,477
-----------
Petroleum -- Domestic (0.6%):
11,700 USX-Marathon Group................ 380,981
-----------
</TABLE>
<TABLE>
<CAPTION>
SHARES
OR
PRINCIPAL MARKET
AMOUNT SECURITY DESCRIPTION VALUE
- ---------- ---------------------------------- -----------
<C> <S> <C>
COMMON STOCKS, CONTINUED:
Petroleum -- Services (0.9%):
7,050 Halliburton Co.................... $ 319,012
8,560 Transocean Offshore, Inc.......... 224,700
-----------
543,712
-----------
Publishing (2.2%):
19,500 Gannett Co., Inc.................. 1,391,812
-----------
Retail -- General Merchandise (2.9%):
5,100 Kohl's Corp.*..................... 393,656
8,100 Saks, Inc.*....................... 233,888
24,800 Wal-Mart Stores, Inc.............. 1,196,600
-----------
1,824,144
-----------
Retail -- Specialty (0.9%):
4,940 Abercrombie & Fitch Co.*.......... 237,120
8,900 Williams-Sonoma, Inc.*............ 309,831
-----------
546,951
-----------
Security & Commercial Broker (3.1%):
21,000 Freddie Mac....................... 1,218,000
7,400 Morgan Stanley Dean Witter &
Co.............................. 758,500
-----------
1,976,500
-----------
Timeshare & Software (1.2%):
7,000 America Online, Inc.*............. 773,500
-----------
Utilities -- Electric (2.0%):
31,600 Pinnacle West Capital Corp........ 1,271,900
-----------
Utilities -- Gas/Pipeline (3.4%):
6,100 El Paso Energy Corp............... 214,644
23,100 Enron Corp........................ 1,888,425
-----------
2,103,069
-----------
Utilities -- Telephone (6.6%):
20,580 CenturyTel, Inc................... 818,055
14,600 MCI WorldCom, Inc.*............... 1,256,513
7,500 Qwest Communications
International, Inc.*............ 247,969
19,000 SBC Communications, Inc........... 1,102,000
13,830 Sprint Corp....................... 730,397
-----------
4,154,934
-----------
Total Common Stocks 60,945,519
-----------
INVESTMENT COMPANIES (3.2%):
$1,993,722 One Group Prime Money Market Fund,
Class I......................... 1,993,722
-----------
Total Investment Companies 1,993,722
-----------
</TABLE>
25
Continued
<PAGE> 29
- --------------------------------------------------------------------------------
One Group Investment Trust
Diversified Equity Portfolio
- --------------------------------------------------------------------------------
SCHEDULE OF PORTFOLIO INVESTMENTS, CONTINUED JUNE 30, 1999
(Unaudited)
<TABLE>
<CAPTION>
SHARES
OR
PRINCIPAL MARKET
AMOUNT SECURITY DESCRIPTION VALUE
- ---------- ---------------------------------- -----------
<C> <S> <C>
REPURCHASE AGREEMENTS (1.6%):
$1,000,000 State Street Bank 4.90%, 7/1/99
(Collateralized by $1,025,000
Federal Farm Credit Bank, 5.13%,
4/2/01, market value
$1,024,053)..................... $ 1,000,000
-----------
Total (Cost $55,655,390)(a) $63,939,241
===========
</TABLE>
- ------------
Percentages indicated are based on net assets of $62,743,625
* Denotes a non-income producing security.
(a) Represents cost for financial reporting and federal income tax purposes and
differs from value by net unrealized appreciation of securities as follows:
<TABLE>
<S> <C>
Unrealized appreciation........................... $9,306,741
Unrealized depreciation........................... (1,022,890)
----------
Net unrealized appreciation....................... $8,283,851
==========
</TABLE>
The abbreviations in the above statement stand for the following:
ADR American Depository Receipt
See accompanying notes to financial statements.
26
<PAGE> 30
- --------------------------------------------------------------------------------
One Group Investment Trust
Mid Cap Growth Portfolio
- --------------------------------------------------------------------------------
SCHEDULE OF PORTFOLIO INVESTMENTS JUNE 30, 1999
(Unaudited)
<TABLE>
<CAPTION>
SHARES
OR
PRINCIPAL MARKET
AMOUNT SECURITY DESCRIPTION VALUE
- --------- ---------------------------------- ------------
<C> <S> <C>
COMMON STOCKS (94.5%):
Air Transportation (0.5%):
10,600 Airborne Freight Corp............. $ 293,487
9,900 COMAIR Holdings, Inc.............. 206,044
------------
499,531
------------
Aircraft (1.0%):
16,100 Gulfstream Aerospace Corp.*....... 1,087,756
------------
Apparel (1.0%):
31,700 Jones Apparel Group, Inc.*........ 1,087,706
------------
Banks (4.4%):
7,300 Charter One Financial, Inc........ 203,031
32,600 First Tennessee National Corp..... 1,248,987
5,500 Huntington Bancshares, Inc........ 192,500
39,300 North Fork Bancorp., Inc.......... 837,581
19,740 Old Kent Financial Corp........... 826,612
20,900 Sovereign Bancorp., Inc........... 253,413
4,600 Summit Bancorp.................... 192,338
15,500 Zions Bancorp(b).................. 984,250
------------
4,738,712
------------
Beverages (0.4%):
22,400 Whitman Corp...................... 403,200
------------
Broadcasting (1.7%):
10,700 TCA Cable TV, Inc................. 593,850
18,400 Univision Communications, Inc.*... 1,214,400
------------
1,808,250
------------
Broker-Dealers (0.1%):
1,500 TD Waterhouse Group, Inc.*(b)..... 37,594
------------
Business Equipment & Services (7.8%):
38,900 Allied Waste Industries, Inc.*.... 768,275
26,900 Apollo Group, Inc.*............... 714,531
23,300 Cintas Corp....................... 1,565,469
33,700 Comdisco, Inc..................... 863,562
38,000 Convergys Corp.*(b)............... 731,500
18,800 Herman Miller, Inc................ 394,800
8,200 Modis Professional Services,
Inc.*........................... 112,750
5,600 Nextera Enterprises, Inc.*........ 36,050
12,000 NOVA Corp.*....................... 300,000
17,100 Reynolds & Reynolds Co. Class A... 398,644
11,100 Snyder Communication, Inc.*(b).... 363,525
19,966 Sterling Commerce, Inc.*.......... 728,759
23,900 SunGard Data Systems, Inc.*(b).... 824,550
21,000 Viad Corp......................... 649,688
------------
8,452,103
------------
Capital Equipment (0.4%):
7,935 Donaldson Co., Inc................ 194,407
9,200 UCAR International, Inc.*......... 232,300
------------
426,707
------------
</TABLE>
<TABLE>
<CAPTION>
SHARES
OR
PRINCIPAL MARKET
AMOUNT SECURITY DESCRIPTION VALUE
- --------- ---------------------------------- ------------
<C> <S> <C>
COMMON STOCKS, CONTINUED:
Chemicals -- Petroleum & Inorganic (0.5%):
25,500 Solutia, Inc...................... $ 543,469
------------
Chemicals -- Specialty (1.4%):
11,700 Crompton & Knowles Corp........... 228,881
7,700 Ferro Corp........................ 211,750
21,900 Vulcan Materials Co............... 1,056,675
------------
1,497,306
------------
Communication Equipment (7.4%):
30,800 ADC Telecommunications, Inc.*..... 1,403,325
16,400 Comverse Technology, Inc.*........ 1,238,200
31,385 QUALCOM, Inc.*(b)................. 4,503,748
21,150 Symbol Technologies, Inc.......... 779,906
------------
7,925,179
------------
Computers -- Main/Mini (0.2%):
5,900 Investment Technology Group,
Inc............................. 191,013
------------
Computers -- Peripheral (9.5%):
41,600 American Power Conversion Corp.*.. 837,200
30,500 Cadence Design Systems, Inc.*..... 388,875
21,200 Citrix Systems, Inc.*(b).......... 1,197,800
13,300 Electronic Arts, Inc.*............ 721,525
10,200 Keane, Inc.*(b)................... 230,775
3,600 Legato Systems, Inc.*............. 207,900
31,600 Lexmark International Group,
Inc.*........................... 2,087,575
15,300 Network Associates, Inc.*......... 224,719
18,300 Rational Software Corp.*.......... 602,756
19,400 Siebel Systems, Inc.*............. 1,286,462
11,100 Symantec Corp.*................... 283,050
12,900 Synopsys, Inc.*................... 711,919
15,300 VERITAS Software Corp.*........... 1,452,544
------------
10,233,100
------------
Construction Materials (2.3%):
15,800 American Standard Cos., Inc.*..... 758,400
9,900 Martin Marietta Materials, Inc.... 584,100
9,100 Southdown, Inc.................... 584,675
8,513 USG Corp.......................... 476,728
------------
2,403,903
------------
Consumer Products (0.1%):
3,000 Blyth Industries, Inc.*........... 103,125
------------
Education (0.3%):
11,300 Sylvan Learning Systems, Inc.*.... 307,219
------------
Electrical Equipment (0.2%):
10,000 Federal Signal Corp............... 211,875
------------
Electronic Components (11.0%):
45,000 Altera Corp.*..................... 1,656,562
17,700 Jabil Circuit, Inc.*.............. 798,713
34,200 Linear Technology Corp............ 2,299,950
30,000 Maxim Integrated Products,
Inc.*........................... 1,995,000
</TABLE>
27
Continued
<PAGE> 31
- --------------------------------------------------------------------------------
One Group Investment Trust
Mid Cap Growth Portfolio
- --------------------------------------------------------------------------------
SCHEDULE OF PORTFOLIO INVESTMENTS, CONTINUED JUNE 30, 1999
(Unaudited)
<TABLE>
<CAPTION>
SHARES
OR
PRINCIPAL MARKET
AMOUNT SECURITY DESCRIPTION VALUE
- --------- ---------------------------------- ------------
<C> <S> <C>
COMMON STOCKS, CONTINUED:
Electronic Components, continued:
12,400 Microchip Technology, Inc.*....... $ 587,450
12,600 Sanmina Corp.*.................... 956,025
4,000 Solectron Corp.*.................. 266,750
16,400 Vitesse Semiconductor Corp.*...... 1,105,975
35,300 Xilinx, Inc.*..................... 2,020,925
------------
11,687,350
------------
Electronic -- Instruments (0.1%):
4,400 AMETEK, Inc....................... 101,200
------------
Energy (0.1%):
1 CONSOL Energy, Inc.*.............. 12
------------
Finance Companies (0.2%):
9,500 Robert Half International,
Inc.*........................... 247,000
------------
Financial -- Miscellaneous (2.9%):
700 E-LOAN, Inc.*..................... 26,994
26,500 Nasdaq-100 Shares*................ 3,055,781
------------
3,082,775
------------
Food & Related (1.6%):
1,100 Dryer's Grand Ice Cream, Inc...... 16,637
22,200 Flowers Industries, Inc........... 481,462
15,000 McCormick & Co., Inc.............. 473,438
16,000 U.S. Foodservice*................. 682,000
4,800 Vlasic Foods International,
Inc.*........................... 35,100
------------
1,688,637
------------
Furniture/Furnishings (1.9%):
12,800 HON Industries, Inc............... 373,600
41,900 Leggett & Platt, Inc.............. 1,165,344
29,500 Shaw Industries, Inc.*............ 486,750
------------
2,025,694
------------
Healthcare -- Drugs (7.2%):
32,200 Biogen, Inc.*..................... 2,070,862
34 Cardinal Health, Inc.............. 2,180
16,700 Centocor, Inc.*(b)................ 778,638
30,500 Chiron Corp.*..................... 632,875
6,000 Covance, Inc.*(b)................. 143,625
18,400 Forest Labs, Inc.*................ 851,000
11,788 MedImmune, Inc.*.................. 798,637
29,500 Mylan Laboratories, Inc........... 781,750
27,100 Quintiles Transnational
Corp.*(b)....................... 1,138,200
6,200 Sepracor, Inc.*(b)................ 503,750
------------
7,701,517
------------
Healthcare -- General (3.4%):
5,600 Beckman Coulter, Inc.............. 272,300
36,100 Bergen Brunswig Corp.............. 622,725
13,700 Hillenbrand Industries, Inc.(b)... 592,525
10,100 STERIS Corp.*..................... 195,687
22,500 Sybron International Corp.*....... 620,156
</TABLE>
<TABLE>
<CAPTION>
SHARES
OR
PRINCIPAL MARKET
AMOUNT SECURITY DESCRIPTION VALUE
- --------- ---------------------------------- ------------
<C> <S> <C>
COMMON STOCKS, CONTINUED:
Healthcare -- General, continued:
13,600 Total Renal Care Holdings,
Inc.*........................... $ 211,650
13,700 VISX, Inc.*....................... 1,084,869
------------
3,599,912
------------
Hospital Supply & Management (2.5%):
53,450 Health Management Associates, Inc.
Class A*........................ 601,312
20,575 HealthSouth Corp.*................ 307,339
6,600 Lincare Holding, Inc.*............ 165,000
17,600 Oxford Health Plans, Inc.*........ 273,900
21,100 Stryker Corp.(b).................. 1,268,638
------------
2,616,189
------------
Hotels & Gaming (0.2%):
12,000 International Game Technology 222,000
------------
Household -- General Products (0.8%):
22,900 Dial Corp. (The).................. 851,594
------------
Metal Fabrication (0.4%):
8,300 Fastenal Co.(b)................... 435,231
------------
Motor Vehicles (1.7%):
33,500 Harley-Davidson, Inc.............. 1,821,563
------------
Motor Vehicles -- Parts (1.6%):
3,367 Eaton Corp........................ 309,764
15,100 Federal-Mogul Corp................ 785,200
6,700 Kaydon Corp....................... 225,287
14,547 Meritor Automotive, Inc........... 370,949
------------
1,691,200
------------
Non Residential Construction (0.2%):
7,300 Newport News Shipbuilding, Inc.... 215,350
------------
Petroleum -- Services (1.2%):
43,600 Global Marine, Inc.*.............. 673,075
17,000 Weatherford International,
Inc.*(b)........................ 622,625
------------
1,295,700
------------
Publishing (2.4%):
5,800 Houghton Mifflin Co............... 272,963
5,100 Media General, Inc. Class A....... 260,100
23,300 Reader's Digest Association, Inc.
Class A......................... 926,175
2,100 Washington Post Co. Class B....... 1,129,275
------------
2,588,513
------------
REITS ( 0.1%):
6,925 Prison Realty Trust, Inc.......... 67,952
------------
Restaurants (2.0%):
22,900 Outback Steakhouse, Inc.*......... 900,256
33,300 Starbucks Corp.*.................. 1,250,831
------------
2,151,087
------------
</TABLE>
28
Continued
<PAGE> 32
- --------------------------------------------------------------------------------
One Group Investment Trust
Mid Cap Growth Portfolio
- --------------------------------------------------------------------------------
SCHEDULE OF PORTFOLIO INVESTMENTS, CONTINUED JUNE 30, 1999
(Unaudited)
<TABLE>
<CAPTION>
SHARES
OR
PRINCIPAL MARKET
AMOUNT SECURITY DESCRIPTION VALUE
- --------- ---------------------------------- ------------
<C> <S> <C>
COMMON STOCKS, CONTINUED:
Retail (0.2%):
16,476 Officemax, Inc.*.................. $ 197,712
------------
Retail -- General Merchandise (1.1%):
37,300 Family Dollar Stores, Inc......... 895,200
8,300 Saks, Inc.*....................... 239,662
------------
1,134,862
------------
Retail -- Specialty (4.1%):
24,600 Abercrombie & Fitch Co.*.......... 1,180,800
15,300 Barnes & Noble, Inc.*............. 418,837
22,800 Bed Bath and Beyond, Inc.*........ 877,800
14,200 Borders Group, Inc.*.............. 224,537
5,000 Linens 'n Things*................. 218,750
16,300 Ross Stores, Inc.................. 821,113
13,800 Tandy Corp........................ 674,475
------------
4,416,312
------------
Security & Commercial Broker (2.5%):
40,600 E*TRADE Group, Inc.*(b)........... 1,621,462
25,700 Price, T Rowe Associates, Inc..... 986,238
------------
2,607,700
------------
Technology (0.2%):
6,500 Transaction Systems Architects,
Inc.*........................... 253,500
------------
Textiles (0.3%):
11,400 Mohawk Industries (The)*.......... 346,275
------------
Timeshare & Software (1.9%):
27,100 Concord EFS, Inc.*................ 1,146,669
19,900 Fiserv, Inc.*..................... 623,119
8,700 Policy Management Systems Corp.*.. 261,000
2,800 ZipLink, Inc.*(b)................. 35,000
------------
2,065,788
------------
Tire & Rubber (0.3%):
5,800 Carlisle Cos., Inc................ 279,125
------------
Utilities -- Electric (1.5%):
17,200 Alliant Energy Corp............... 488,050
20,500 IPALCO Enterprises, Inc.(b)....... 434,344
30,800 LG&E Energy Corp.................. 646,800
------------
1,569,194
------------
</TABLE>
<TABLE>
<CAPTION>
SHARES
OR
PRINCIPAL MARKET
AMOUNT SECURITY DESCRIPTION VALUE
- --------- ---------------------------------- ------------
<C> <S> <C>
COMMON STOCKS, CONTINUED:
Utilities -- Gas/Pipeline (0.8%):
33,600 KeySpan Energy Corp............... $ 886,200
------------
Utilities -- Telephone (0.9%):
6,100 CenturyTel, Inc................... 242,475
30,200 Cincinnati Bell, Inc.............. 753,113
------------
995,588
------------
Total Common Stocks 100,800,480
------------
U.S. TREASURY OBLIGATIONS (0.1%):
U.S. Treasury Bills (0.1%):
$110,000 9/23/99(c)........................ 108,835
------------
Total U.S. Treasury Obligations 108,835
------------
INVESTMENT COMPANIES (3.9%):
4,096,124 One Group Prime Money Market Fund,
Class I......................... 4,096,124
------------
Total Investment Companies 4,096,124
------------
REPURCHASE AGREEMENTS (0.9%):
1,000,000 State Street Bank 4.90%, 07/01/99
(Collateralized by $1,025,000
Federal Farm Credit Bank, 5.13%,
4/2/01, market value
$1,024,053)..................... 1,000,000
------------
SHORT-TERM SECURITIES HELD AS COLLATERAL (7.2%):
Repurchase Agreement (7.2%):
7,674,841 Lehman Brothers A2/P2 Tri-Party
5.85%, 7/1/99 (Collateralized by
$8,060,778 Dorada Finance
Commercial Paper, 9/28/99,
market value $8,060,778)........ 7,674,841
------------
Total (Cost $97,217,471)(a) $113,680,280
============
</TABLE>
- ------------
Percentages indicated are based on net assets of $106,680,269.
* Denotes a non-income producing security.
(a) Represents cost for financial reporting purposes and differs from value by
net unrealized appreciation of securities as follows:
<TABLE>
<S> <C>
Unrealized appreciation...................... $21,082,775
Unrealized depreciation...................... (4,619,966)
-----------
Net unrealized appreciation.................. $16,462,809
===========
</TABLE>
Cost for federal income tax purposes: $97,575,096.
(b) A portion of this security was loaned as of June 30, 1999.
29
Continued
<PAGE> 33
- --------------------------------------------------------------------------------
One Group Investment Trust
Mid Cap Growth Portfolio
- --------------------------------------------------------------------------------
SCHEDULE OF PORTFOLIO INVESTMENTS, CONTINUED JUNE 30, 1999
(Unaudited)
(c) Serves as collateral for futures contracts.
<TABLE>
<CAPTION>
CURRENT
NUMBER OF OPENING MARKET
CONTRACTS CONTRACT TYPE POSITIONS VALUE
- --------- ------------- ---------- ----------
<C> <S> <C> <C>
1 Midcap 400, September 1999 Futures $ 208,358 $ 209,675
5 Long S&P 500, September 1999 Futures 1,690,313 1,727,125
</TABLE>
See accompanying notes to financial statements.
30
<PAGE> 34
- --------------------------------------------------------------------------------
One Group Investment Trust
Diversified Mid Cap Portfolio
- --------------------------------------------------------------------------------
SCHEDULE OF PORTFOLIO INVESTMENTS JUNE 30, 1999
(Unaudited)
<TABLE>
<CAPTION>
SHARES
OR
PRINCIPAL MARKET
AMOUNT SECURITY DESCRIPTION VALUE
- --------- ---------------------------------- ------------
<C> <S> <C>
COMMON STOCKS (99.1%):
Apparel (1.4%):
3,400 Tommy Hilfiger Corp.*............. $ 249,900
------------
Banks (4.6%):
3,847 Associated Banc-Corp.............. 159,650
15,430 Charter One Financial, Inc........ 429,147
5,800 First Tennessee National Corp..... 222,213
------------
811,010
------------
Business Equipment & Services (10.9%):
4,400 DST Systems, Inc.*................ 276,650
4,200 Galileo International, Inc........ 224,438
4,600 Office Depot, Inc.*............... 101,487
3,600 Omnicom Group, Inc................ 288,000
7,400 Sterling Commerce, Inc.*.......... 270,100
7,700 SunGard Data Systems, Inc.*....... 265,650
4,400 Waters Corp.*..................... 233,750
5,800 Young & Rubicam, Inc.............. 263,537
------------
1,923,612
------------
Capital Equipment (3.3%):
2,500 Applied Power, Inc. Class A....... 68,281
6,700 DT Industries, Inc................ 61,556
4,775 IDEX Corp......................... 156,978
6,900 Teleflex, Inc..................... 299,719
------------
586,534
------------
Chemicals-Specialty (1.3%):
6,400 OM Group, Inc..................... 220,800
------------
Communication Equipment (3.2%):
1,600 ADC Telecommunications, Inc.*..... 72,900
2,750 Comverse Technology, Inc.*........ 207,625
2,000 Qualcom, Inc.*.................... 287,000
------------
567,525
------------
Computers-Peripheral (4.8%):
3,500 Autodesk, Inc..................... 103,469
1,900 Citrix Systems, Inc.*............. 107,350
1,200 Intuit, Inc.*..................... 108,150
4,000 Lexmark International Group,
Inc.*........................... 264,250
3,000 Quantum Corp.*.................... 72,375
1,700 Siebel Systems, Inc.*............. 112,731
1,400 Synopsys, Inc.*................... 77,262
------------
845,587
------------
Construction Materials (2.0%):
11,087 Crane Co.......................... 348,548
------------
Containers (1.5%):
8,600 AptarGroup, Inc................... 258,000
------------
</TABLE>
<TABLE>
<CAPTION>
SHARES
OR
PRINCIPAL MARKET
AMOUNT SECURITY DESCRIPTION VALUE
- --------- ---------------------------------- ------------
<C> <S> <C>
COMMON STOCKS, CONTINUED:
Electronic Components (5.6%):
1,600 Altera Corp.*..................... $ 58,900
3,600 Analog Devices, Inc.*............. 180,675
1,600 Maxim Integrated Products,
Inc.*........................... 106,400
4,300 Microchip Technology, Inc.*....... 203,712
3,600 SCI Systems, Inc.*................ 171,000
4,600 Xilinx, Inc.*..................... 263,350
------------
984,037
------------
Electrical Equipment (3.9%):
2,000 Hubbell, Inc. Class B............. 90,750
11,100 Juno Lighting, Inc................ 271,950
5,100 Littlefuse, Inc.*................. 98,175
7,113 Molex, Inc. Class A............... 224,060
------------
684,935
------------
Electronics -- Instruments (2.5%):
7,500 AMETEK, Inc....................... 172,500
3,600 Teradyne, Inc.*................... 258,300
------------
430,800
------------
Finance Companies (4.7%):
5,400 FINOVA Group, Inc. (The):......... 284,175
10,700 Heller Financial, Inc............. 297,594
5,000 Radian Group, Inc................. 244,062
------------
825,831
------------
Food & Related (1.4%):
5,600 U.S. Foodservice*................. 238,700
------------
Furniture/Furnishings (3.4%):
9,100 HON Industries, Inc............... 265,606
11,900 Leggett & Platt, Inc.............. 330,969
------------
596,575
------------
Healthcare -- Drugs (2.2%):
1,600 Biogen, Inc.*..................... 102,900
1,600 Forest Labs, Inc.*................ 74,000
1,200 MedImmune, Inc.*.................. 81,300
2,500 Mylan Laboratories, Inc........... 66,250
2,500 Watson Pharmaceuticals, Inc.*..... 87,656
------------
412,106
------------
Healthcare -- General (2.6%):
4,200 Dentsply International, Inc....... 117,600
9,300 Sybron International Corp.*....... 256,331
1,000 VISX, Inc.*....................... 79,188
------------
453,119
------------
</TABLE>
31
Continued
<PAGE> 35
- --------------------------------------------------------------------------------
One Group Investment Trust
Diversified Mid Cap Portfolio
- --------------------------------------------------------------------------------
SCHEDULE OF PORTFOLIO INVESTMENTS, CONTINUED JUNE 30, 1999
(Unaudited)
<TABLE>
<CAPTION>
SHARES
OR
PRINCIPAL MARKET
AMOUNT SECURITY DESCRIPTION VALUE
- --------- ---------------------------------- ------------
<C> <S> <C>
COMMON STOCKS, CONTINUED:
Hospital Supply & Management (2.9%):
3,600 HCR Manor Care, Inc.*............. $ 87,075
17,543 Health Management Associates, Inc.
Class A*........................ 197,359
4,800 Universal Health Services, Inc.
Class B*........................ 229,200
------------
513,634
------------
Household -- General Products (0.9%):
4,700 Lancaster Colony Corp............. 162,150
------------
Insurance -- Property & Casualty (2.3%):
8,100 Everest Reinsurance Holdings,
Inc............................. 264,263
1,850 Transatlantic Holdings, Inc....... 138,634
------------
402,897
------------
Metal Fabrication (0.4%):
2,100 Harsco Corp....................... 67,200
------------
Motor Vehicles (1.5%):
4,700 Harley-Davidson, Inc.............. 255,563
------------
Motor Vehicles-Parts (4.2%):
6,000 Borg-Warner Automotive, Inc....... 330,000
700 SPX Corp.*........................ 58,450
13,600 Tower Automotive, Inc.*........... 345,950
------------
734,400
------------
Petroleum -- Domestic (2.5%):
7,000 Apache Corp....................... 273,000
6,200 Noble Affiliates, Inc............. 174,763
------------
447,763
------------
Petroleum -- Services (1.5%):
10,900 Global Industries Ltd.*........... 139,656
1,000 Smith International, Inc.*........ 43,438
2,200 Weatherford International,
Inc.*........................... 80,575
------------
263,669
------------
Retail -- General Merchandise (2.8%):
2,900 Kohl's Corp.*..................... 223,844
9,100 Saks, Inc.*....................... 262,762
------------
486,606
------------
Retail -- Specialty (6.1%):
4,800 Abercrombie & Fitch Co.*.......... 230,400
3,700 Best Buy Co., Inc.*............... 249,750
10,250 Mens Wearhouse, Inc.*............. 261,375
8,400 Zale Corp.* 336,000
------------
1,077,525
------------
</TABLE>
<TABLE>
<CAPTION>
SHARES
OR
PRINCIPAL MARKET
AMOUNT SECURITY DESCRIPTION VALUE
- --------- ---------------------------------- ------------
<C> <S> <C>
COMMON STOCKS, CONTINUED:
Restaurants (0.4%):
1,700 Starbucks Corp.* $ 63,856
------------
Savings & Loans (3.2%):
12,100 Peoples Heritage Financial Group,
Inc............................. 227,631
12,100 TCF Financial Corp................ 337,288
------------
564,919
------------
Security & Commercial Broker (3.6%):
5,200 E*TRADE Group, Inc.*.............. 207,675
7,850 Edwards (A.G.), Inc............... 253,162
6,500 Waddell & Reed Financial, Inc.
Class A......................... 178,344
------------
639,181
------------
Textiles (0.2%):
1,200 Westpoint Stevens, Inc............ 35,775
------------
Timeshare & Software (4.1%):
5,200 Affiliated Computer Services, Inc.
Class A*........................ 263,250
7,100 CIBER, Inc.*...................... 135,787
2,700 Concord EFS, Inc.*................ 114,244
4,900 National Data Corp................ 209,475
------------
722,756
------------
Utilities -- Electric (2.8%):
2,000 Florida Progress Corp............. 82,625
1,200 Montana Power Co. (The)........... 84,600
3,600 Nevada Power Co................... 90,000
1,600 Pinnacle West Capital Corp........ 64,400
2,500 Potomac Electric Power Co......... 73,594
2,600 Sierra Pacific Resources.......... 94,575
------------
489,794
------------
Utilities -Telephone (0.4%):
2,600 Cincinnati Bell, Inc.............. 64,838
------------
Total Common Stocks 17,430,145
------------
INVESTMENT COMPANIES (0.1%):
2,055 One Group Prime Money Market Fund,
Class I......................... 2,055
------------
Total Investment Companies 2,055
------------
Total (Cost $14,772,424)(a) $ 17,432,200
============
</TABLE>
32
Continued
<PAGE> 36
- --------------------------------------------------------------------------------
One Group Investment Trust
Diversified Mid Cap Portfolio
- --------------------------------------------------------------------------------
SCHEDULE OF PORTFOLIO INVESTMENTS, CONTINUED JUNE 30, 1999
(Unaudited)
- ------------
Percentages indicated are based on net assets of $17,568,210
* Denotes a non-income producing security.
(a) Represents cost for financial reporting purposes and differs from value by
net realized appreciation of securities as follows:
<TABLE>
<S> <C>
Unrealized appreciation...................... $3,290,948
Unrealized depreciation...................... (631,172)
----------
Net unrealized appreciation.................. $2,659,776
==========
</TABLE>
Cost for federal income tax purposes: $14,776,077.
See accompanying notes to financial statements.
33
<PAGE> 37
- --------------------------------------------------------------------------------
One Group Investment Trust
Mid Cap Value Portfolio
- --------------------------------------------------------------------------------
SCHEDULE OF PORTFOLIO INVESTMENTS JUNE 30, 1999
(Unaudited)
<TABLE>
<CAPTION>
SHARES
OR
PRINCIPAL MARKET
AMOUNT SECURITY DESCRIPTION VALUE
- --------- ---------------------------------- ------------
<C> <S> <C>
COMMON STOCKS (102.2%):
Aircrafts (0.9%):
3,600 Cordant Technologies, Inc......... $ 162,675
1,400 Lockheed Martin Corp.............. 52,150
------------
214,825
------------
Air Transportation (0.4%):
2,000 Alaska Air Group, Inc.*........... 83,500
------------
Apparel (1.6%):
3,558 Jones Apparel Group, Inc.*........ 122,077
1,700 Payless ShoeSource, Inc.*......... 90,950
5,300 Warnaco Group, Inc................ 141,775
------------
354,802
------------
Banks (8.5%):
5,100 Associated Banc-Corp.............. 211,650
1,100 CCB Financial Corp................ 58,162
11,300 Charter One Financial, Inc........ 314,281
7,900 First Security Corp............... 215,275
1,900 First Tennessee National Corp..... 72,794
2,100 First Virginia Banks, Inc......... 103,162
5,900 Hibernia Corp. Class A............ 92,556
2,000 Keystone Financial, Inc........... 59,125
5,000 Marshall & Ilsley Corp............ 321,875
4,400 Mercantile Bankshares Corp........ 155,650
5,100 North Fork Bancorp, Inc........... 108,694
5,900 Pacific Century Financial Corp.... 127,219
1,800 Provident Financial Group, Inc.... 78,750
------------
1,919,193
------------
Broadcasting (1.5%):
7,400 Belo, (AH) Corp. Series A......... 145,687
630 Chris-Craft Industries, Inc.*..... 29,689
2,200 Hispanic Broadcasting Corp.*...... 166,925
------------
342,301
------------
Business Equipment & Services (2.8%):
1,300 ACNielsen Corp.*.................. 39,325
2,300 Apollo Group, Inc. Class A*....... 61,094
1,600 First Data Corp................... 78,300
1,200 Jacobs Engineering Group, Inc.*... 45,600
2,700 Manpower, Inc..................... 61,087
3,500 Modis Professional Services,
Inc.*........................... 48,125
4,250 Office Depot, Inc.*............... 93,766
2,800 Sotheby's Holdings, Inc. Class
A............................... 106,750
4,700 Stewart Enterprises, Inc. Class
A............................... 68,444
1,200 Wallace Computer Services, Inc.... 30,000
------------
632,491
------------
Business Services (0.3%):
2,600 Harte-Hanks, Inc.................. 70,525
------------
</TABLE>
<TABLE>
<CAPTION>
SHARES
OR
PRINCIPAL MARKET
AMOUNT SECURITY DESCRIPTION VALUE
- --------- ---------------------------------- ------------
<C> <S> <C>
COMMON STOCKS, CONTINUED:
Capital Equipment (0.3%):
1,800 Teleflex, Inc..................... $ 78,188
------------
Chemicals -- Petroleum & Inorganic (1.0%):
8,800 Lyondell Chemical Co.............. 181,500
2,600 Schulman, (A.), Inc............... 44,688
------------
226,188
------------
Chemicals -- Specialty (5.0%):
2,000 Air Products & Chemicals, Inc..... 80,500
2,500 Airgas, Inc.*..................... 30,625
7,300 Cabot Corp........................ 176,569
4,600 Cytec Industries, Inc.*........... 146,625
1,900 Dexter Corp. (The)................ 77,544
3,000 Ferro Corp........................ 82,500
6,700 IMC Global, Inc................... 118,087
2,900 Lubrizol Corp..................... 79,025
800 Minerals Technologies, Inc........ 44,650
10,700 RPM, Inc., Ohio................... 151,806
1,900 Sigma-Aldrich Corp................ 65,431
3,800 Witco Corp........................ 76,000
------------
1,129,362
------------
Computers -- Main/Mini (0.5%):
2,200 NCR Corp.*........................ 107,388
------------
Computers -- Micro (0.8%):
4,700 Tech Data Corp.*.................. 179,775
------------
Computers -- Peripheral (3.0%):
4,000 Intuit, Inc.*..................... 360,500
10,900 Quantum Corp.*.................... 262,963
1,800 Sterling Software, Inc.*.......... 48,038
------------
671,501
------------
Construction Materials (0.5%):
900 Martin Marietta Materials, Inc.... 53,100
1,100 USG Corp.......................... 61,600
------------
114,700
------------
Defense (1.1%):
2,200... Litton Industries*................ 157,850
1,300... Raytheon Co. Class B.............. 91,488
------------
249,338
------------
Electronic Components (5.0%):
10,600 Analog Devices, Inc.*............. 531,987
6,700... Arrow Electronics, Inc.*.......... 127,300
3,500... Atmel Corp.*...................... 91,656
</TABLE>
34
Continued
<PAGE> 38
- --------------------------------------------------------------------------------
One Group Investment Trust
Mid Cap Value Portfolio
- --------------------------------------------------------------------------------
SCHEDULE OF PORTFOLIO INVESTMENTS, CONTINUED JUNE 30, 1999
(Unaudited)
<TABLE>
<CAPTION>
SHARES
OR
PRINCIPAL MARKET
AMOUNT SECURITY DESCRIPTION VALUE
- --------- ---------------------------------- ------------
<C> <S> <C>
COMMON STOCKS, CONTINUED:
Electronic Components, continued:
2,500 Avnet, Inc........................ $ 116,250
1,000 LSI Logic Corp.*.................. 46,125
4,600 SCI Systems, Inc.*................ 218,500
------------
1,131,818
------------
Electrical Equipment (2.9%):
1,000 Honeywell, Inc.................... 115,875
2,800 Hubbell Inc. Class B.............. 127,050
6,000 Mark IV Industries, Inc........... 126,750
7,800 Molex, Inc........................ 288,600
------------
658,275
------------
Electronics -- Instruments (2.1%):
1,400 Applied Materials, Inc.*.......... 103,425
900 KLA -Tencor Corp.*................ 58,387
4,500 Teradyne, Inc.*................... 322,875
------------
484,687
------------
Entertainment (0.4%):
4,800 Mandalay Resort Group*............ 101,400
------------
Finance Companies (1.5%):
3,000 Allmerica Financial Corp.......... 182,437
3,100 FINOVA Group, Inc. (The).......... 163,138
------------
345,575
------------
Financial -- Miscellaneous (0.1%):
700 American Financial Group, Inc..... 23,844
------------
Food & Related (3.6%):
1,400 Dean Foods Co..................... 58,187
3,000 Dole Food Company, Inc............ 88,125
2,600 Hormel Foods Corp................. 104,650
8,200 IBP, Inc.......................... 194,750
4,500 Interstate Bakeries Corp.......... 100,969
1,000 Suiza Foods Corp.*................ 41,875
10,000 Tyson Foods, Inc. Class A......... 225,000
------------
813,556
------------
Forest/Paper Products (3.5%):
2,600 Bowater, Inc...................... 122,850
1,600 Chesapeake Corp................... 59,900
3,900 Consolidated Papers, Inc.......... 104,325
1,000 Georgia Pacific (Georgia-Pacific
Group).......................... 47,375
2,200 Georgia-Pacific Corp. (Timber
Group).......................... 55,550
4,600 Pentair, Inc...................... 210,450
</TABLE>
<TABLE>
<CAPTION>
SHARES
OR
PRINCIPAL MARKET
AMOUNT SECURITY DESCRIPTION VALUE
- --------- ---------------------------------- ------------
<C> <S> <C>
COMMON STOCKS, CONTINUED:
Forest/Paper Products, continued:
1,200 Rayonier, Inc..................... $ 59,775
4,600 Sonoco Products Co................ 137,713
------------
797,938
------------
Healthcare (0.1%):
1,800 Apria Healthcare Group, Inc.*..... 30,600
806 Genzyme Surgical Products*........ 3,549
------------
34,149
------------
Healthcare -- Drugs (1.9%)
4,500 Genzyme Corp. -- General
Division*....................... 218,250
4,000 ICN Pharmaceuticals, Inc.......... 128,750
6,000 IVAX Corp.*....................... 84,750
------------
431,750
------------
Healthcare -- General (0.3%):
2,600 DENTSPLY International, Inc....... 72,800
------------
Homebuilding -- Mobile Homes (0.7%):
13,000 Clayton Homes, Inc................ 148,687
------------
Hospital Supply & Management (2.3%):
6,300 Foundation Health Systems, Inc*... 94,500
4,400 HEALTHSOUTH Corp.*................ 65,725
1,500 PacifiCare Health Systems, Inc.
*............................... 107,906
4,400 Tenet Healthcare Corp.*........... 81,675
1,700 Trigon Healthcare, Inc. *......... 61,838
1,200 Wellpoint Health Networks,
Inc.*........................... 101,850
------------
513,494
------------
Hotels & Gaming (1.4%):
1,800 MGM Grand, Inc.*.................. 88,200
7,600 Promus Hotel Corp.*............... 235,600
------------
323,800
------------
Household -- General Products (0.6%):
400 Enesco Group, Inc................. 9,250
3,600 Lancaster Colony Corp............. 124,200
------------
133,450
------------
Insurance -- Life (3.4%):
12,250 Old Republic International
Corp............................ 212,078
5,600 Protective Life Corp.............. 184,800
7,300 ReliaStar Financial Corp.......... 319,375
1,300 Unitrin, Inc...................... 53,300
------------
769,553
------------
</TABLE>
35
Continued
<PAGE> 39
- --------------------------------------------------------------------------------
One Group Investment Trust
Mid Cap Value Portfolio
- --------------------------------------------------------------------------------
SCHEDULE OF PORTFOLIO INVESTMENTS, CONTINUED JUNE 30, 1999
(Unaudited)
<TABLE>
<CAPTION>
SHARES
OR
PRINCIPAL MARKET
AMOUNT SECURITY DESCRIPTION VALUE
- --------- ---------------------------------- ------------
<C> <S> <C>
COMMON STOCKS, CONTINUED:
Insurance -- Property & Casualty (1.5%):
4,800 Ambac Financial Group, Inc........ $ 274,200
1,000 PMI Group, Inc. (The)............. 62,813
------------
337,013
------------
Leisure Time Industry (0.4%):
3,300 Mattel, Inc....................... 87,244
------------
Metal Fabrication (0.9%)
2,100 Harsco Corp....................... 67,200
3,300 Precision Castparts Corp.......... 140,250
------------
207,450
------------
Motor Vehicles -- Parts (3.0%):
1,800 Borg-Warner Automotive, Inc....... 99,000
3,100 Delphi Automotive Systems Corp.... 57,544
1,100 Eaton Corp........................ 101,200
2,100 Genuine Parts Co.................. 73,500
1,800 Lear Corp.*....................... 89,550
3,200 SPX Corp.*........................ 267,200
------------
687,994
------------
Petroleum -- Domestic (3.7%):
3,300 Apache Corp....................... 128,700
1,400 Atlantic Richfield Co............. 116,987
3,200 Devon Energy Corp................. 114,400
2,600 Murphy Oil Corp................... 126,913
10,000 Tosco Corp........................ 259,375
4,300 Ultramar Diamond Shamrock Corp.... 93,794
------------
840,169
------------
Petroleum -- Services (3.6%):
6,400 BJ Services Co.*.................. 188,400
3,400 Nabors Industries, Inc.*.......... 83,088
9,000 Noble Drilling Corp.*............. 177,188
3,600 Smith International, Inc.*........ 156,375
7,700 Transocean Offshore, Inc.......... 202,125
------------
807,176
------------
Publishing (0.7%):
1,000 Lee Enterprises, Inc.............. 30,500
3,500 New York Times Co. Class A
(The)........................... 128,844
------------
159,344
------------
REITS (0.1%)
1,000 Associated Estates Realty Corp.... 11,812
------------
</TABLE>
<TABLE>
<CAPTION>
SHARES
OR
PRINCIPAL MARKET
AMOUNT SECURITY DESCRIPTION VALUE
- --------- ---------------------------------- ------------
<C> <S> <C>
COMMON STOCKS, CONTINUED:
Restaurants (0.6%):
2,400 Outback Steakhouse, Inc.*......... $ 94,350
1,700 Wendy's International, Inc........ 48,131
------------
142,481
------------
Retail -- Food Stores (0.3%):
1,200 Hannaford Bros. Co................ 64,200
------------
Retail -- General Merchandise (1.5%):
1,800 BJ's Wholesale Club, Inc.*........ 54,112
9,700 Saks, Inc.*....................... 280,088
------------
334,200
------------
Retail -- Specialty (3.4%):
900 AnnTaylor Stores Corp.*........... 40,500
7,000 Borders Group, Inc.*.............. 110,687
1,400 Circuit City Stores -- Circuit
City Group...................... 130,200
5,200 Furniture Brands International,
Inc.*........................... 144,950
2,200 Tandy Corp........................ 107,525
2,000 Tiffany & Co...................... 193,000
1,100 Williams-Sonoma, Inc.*............ 38,294
------------
765,156
------------
Savings & Loans (2.1%):
1,900 Astoria Financial Corp............ 83,481
4,400 Dime Bancorp, Inc................. 88,550
4,600 GreenPoint Financial Corp......... 150,937
5,800 TCF Financial Corp................ 161,675
------------
484,643
------------
Security & Commercial Broker (0.8%):
5,400 Edwards, (A.G.), Inc.............. 174,150
------------
Steel (0.4%):
2,700 AK Steel Holding Corp............. 60,750
1,600 Carpenter Technology Corp......... 45,700
------------
106,450
------------
Timeshare & Software (0.2%):
1,100 Affiliated Computer Services, Inc.
Class A*........................ 55,687
------------
Tobacco (1.7%):
6,500 R.J. Reynolds Tobacco Holdings,
Inc.*........................... 204,750
4,800 UST, Inc. ........................ 140,400
1,600 Universal Corp.................... 45,500
------------
390,650
------------
</TABLE>
36
Continued
<PAGE> 40
- --------------------------------------------------------------------------------
One Group Investment Trust
Mid Cap Value Portfolio
- --------------------------------------------------------------------------------
SCHEDULE OF PORTFOLIO INVESTMENTS, CONTINUED JUNE 30, 1999
(Unaudited)
<TABLE>
<CAPTION>
SHARES
OR
PRINCIPAL MARKET
AMOUNT SECURITY DESCRIPTION VALUE
- --------- ---------------------------------- ------------
<C> <S> <C>
COMMON STOCKS, CONTINUED:
Transportation (0.1%):
900 GATX Corp. ....................... $ 34,256
------------
Trucking (0.6%):
2,800 Alexander & Baldwin, Inc. ........ 62,300
1,700 CNF Transportation, Inc. ......... 65,237
------------
127,537
------------
Utilities -- Electric (13.3%):
8,800 Allegheny Energy, Inc. ........... 282,150
2,000 CMS Energy Corp. ................. 83,750
3,500 Conectiv, Inc. ................... 85,531
10,100 DPL, Inc. ........................ 185,587
13,000 Energy East Corp. ................ 338,000
2,200 GPU, Inc. ........................ 92,812
7,400 MidAmerican Energy Holdings
Co. ............................ 256,225
4,200 Montana Power Co. ................ 296,100
1,800 New Century Energies, Inc. ....... 69,863
3,200 New England Electric System....... 160,400
6,300 NiSource, Inc. ................... 162,619
4,900 Northeast Utilities *............. 86,669
2,500 OGE Energy Corp. ................. 59,375
2,500 PECO Energy Co. .................. 104,688
7,400 Pinnacle West Capital Corp. ...... 297,850
5,900 Potomic Electric Power Co. ....... 173,681
1,600 SCANA Corp. ...................... 37,400
4,100 TECO Energy, Inc. ................ 93,275
2,700 UtiliCorp United, Inc. ........... 65,644
3,700 Wisconsin Energy Corp. ........... 92,731
------------
3,024,350
------------
</TABLE>
<TABLE>
<CAPTION>
SHARES
OR
PRINCIPAL MARKET
AMOUNT SECURITY DESCRIPTION VALUE
- --------- ---------------------------------- ------------
<C> <S> <C>
COMMON STOCKS, CONTINUED:
Utilities -- Gas/Pipeline (3.6%):
4,400 American Water Works Co., Inc. ... $ 135,300
11,000 El Paso Energy Corp. ............. 387,062
3,800 MCN Energy Group, Inc. ........... 78,850
5,100 Williams Cos., Inc. (The)......... 217,069
------------
818,281
------------
Utilities -- Telephone (1.7%):
1,300 Aliant Communications, Inc. ...... 60,044
3,100 Centurytel, Inc. ................. 123,225
1,100 Frontier Corp. ................... 64,900
1,800 Telephone & Data Systems, Inc. ... 131,513
------------
379,682
------------
Total Common Stocks 23,198,778
------------
INVESTMENT COMPANIES (0.1%):
2,922 One Group Prime Money Market Fund,
Class I......................... 2,922
------------
Total Investment Companies 2,922
------------
Total (Cost $21,330,254) (a) $ 23,201,700
============
</TABLE>
- ------------
Percentages indicated are based on net assets of $22,690,224.
* Denotes a non-income producing security.
(a) Represents cost for financial reporting purposes and differs from value by
net unrealized appreciation as follows:
<TABLE>
<S> <C>
Unrealized appreciation...................... $2,433,429
Unrealized depreciation...................... (561,983)
----------
Net unrealized appreciation.................. $1,871,446
==========
</TABLE>
Cost for federal income tax purposes: $21,371,533.
See accompanying notes to financial statements.
37
<PAGE> 41
- --------------------------------------------------------------------------------
One Group Investment Trust
- --------------------------------------------------------------------------------
STATEMENTS OF ASSETS AND LIABILITIES JUNE 30, 1999
(Unaudited)
<TABLE>
<CAPTION>
GOVERNMENT
BOND BOND BALANCED
----------- ----------- ------------
<S> <C> <C> <C>
ASSETS:
Investments, at value....................................... $61,339,543 $58,617,784 $149,171,553
Repurchase agreements, at cost.............................. -- 2,147,579 1,051,288
----------- ----------- ------------
Total (cost $61,575,167, $62,013,781, $137,326,881
respectively)............................................. 61,339,543 60,765,363 150,222,841
Cash........................................................ -- 467 --
Interest and dividends receivable........................... 530,449 419,428 626,617
Receivable from brokers for investments sold................ 9,915 995,646 --
Net receivable for variation margin on futures contracts.... -- -- 212,500
Prepaid expenses............................................ 1,654 1,167 2,645
Deferred organization expenses.............................. -- 149 335
----------- ----------- ------------
TOTAL ASSETS................................................ 61,881,561 62,182,220 151,064,938
----------- ----------- ------------
LIABILITIES:
Cash Overdraft.............................................. 16,352 -- 5,805
Payable to brokers for investments purchased................ 482,111 2,960,219 --
Payable for return of collateral received for securities on
loan...................................................... -- 2,147,579 1,051,288
Investment advisory fee payable............................. 24,223 20,569 82,230
Administration fee payable.................................. 8,548 7,945 20,387
Other accrued expenses...................................... 15,968 6,393 9,446
----------- ----------- ------------
TOTAL LIABILITIES........................................... 547,202 5,142,705 1,169,156
----------- ----------- ------------
NET ASSETS:
Capital..................................................... 61,634,127 58,366,594 133,185,758
Net unrealized appreciation (depreciation) from investments
and futures............................................... (235,624) (1,248,418) 13,419,305
Accumulated undistributed (distributions in excess of)
realized gain (loss) on investments and financial
futures................................................... (69,362) (79,682) 3,286,202
Accumulated undistributed (distributions in excess of) net
investment income (loss).................................. 5,218 1,021 4,517
----------- ----------- ------------
NET ASSETS.................................................. $61,334,359 $57,039,515 $149,895,782
=========== =========== ============
OUTSTANDING UNITS OF BENEFICIAL INTEREST (SHARES)........... 5,967,709 5,584,879 9,517,186
=========== =========== ============
Net Asset Value:
Offering and redemption price per share................. $ 10.28 $ 10.21 $ 15.75
=========== =========== ============
</TABLE>
See accompanying notes to financial statements.
38
<PAGE> 42
- --------------------------------------------------------------------------------
One Group Investment Trust
- --------------------------------------------------------------------------------
STATEMENTS OF ASSETS AND LIABILITIES JUNE 30, 1999
(Unaudited)
<TABLE>
<CAPTION>
LARGE CAP EQUITY DIVERSIFIED
GROWTH INDEX EQUITY
------------ ----------- -----------
<S> <C> <C> <C>
ASSETS:
Investments, at value....................................... $289,449,541 $32,817,496 $62,939,241
Repurchase agreements, at cost.............................. 1,291,068 214,714 1,000,000
------------ ----------- -----------
Total (cost $223,723,690, $29,619,686, $55,655,390
respectively)............................................. 290,740,609 33,059,237 63,939,241
Cash........................................................ -- 470 467
Interest and dividends receivable........................... 209,910 23,926 49,311
Receivable from brokers for investments sold................ 4,695,780 -- 5,005,713
Net receivable for variation margin on futures contracts.... 150,000 25,000 --
Withholding tax reclaim receivable.......................... 15,920 -- --
Prepaid expenses............................................ 6,486 208 1,595
Deferred organization expenses.............................. 306 -- --
------------ ----------- -----------
TOTAL ASSETS................................................ 295,819,011 33,108,841 68,996,327
------------ ----------- -----------
LIABILITIES:
Cash Overdraft.............................................. 351,780 -- --
Payable to brokers for investments purchased................ 1,347,329 -- 6,184,518
Payable for return of collateral received for securities on
loan...................................................... 1,291,068 241,741 --
Investment advisory fee payable............................. 147,455 7,286 36,740
Administration fee payable.................................. 39,327 3,460 8,722
Other accrued expenses...................................... 34,789 15,596 22,722
------------ ----------- -----------
TOTAL LIABILITIES........................................... 3,211,748 268,083 6,252,702
------------ ----------- -----------
NET ASSETS:
Capital..................................................... 200,579,621 28,978,006 50,316,308
Net unrealized appreciation (depreciation) from investments
and futures............................................... 67,386,339 3,475,471 8,283,851
Accumulated undistributed (distributions in excess of)
realized gain (loss) on investments and financial
futures................................................... 24,648,544 386,240 4,142,964
Accumulated undistributed (distributions in excess of) net
investment income (loss).................................. (7,241) 1,041 502
------------ ----------- -----------
NET ASSETS.................................................. $292,607,263 $32,840,758 $62,743,625
============ =========== ===========
OUTSTANDING UNITS OF BENEFICIAL INTEREST (SHARES)........... 11,593,893 2,676,916 3,350,796
============ =========== ===========
Net Asset Value:
Offering and redemption price per share................. $ 25.24 $ 12.27 $ 18.72
============ =========== ===========
</TABLE>
See accompanying notes to financial statements.
39
<PAGE> 43
- --------------------------------------------------------------------------------
One Group Investment Trust
- --------------------------------------------------------------------------------
STATEMENTS OF ASSETS AND LIABILITIES JUNE 30, 1999
(Unaudited)
<TABLE>
<CAPTION>
MID CAP DIVERSIFIED MID CAP
GROWTH MID CAP VALUE
------------ ----------- -----------
<S> <C> <C> <C>
ASSETS:
Investments, at value....................................... $106,005,439 $17,432,200 $23,201,700
Repurchase agreements, at cost.............................. 7,674,841 -- --
------------ ----------- -----------
Total (cost $97,217,471, $14,772,424, and $21,330,254
respectively)............................................. 113,680,280 17,432,200 23,201,700
Cash........................................................ 38,073 -- --
Interest and dividends receivable........................... 55,101 6,936 18,835
Receivable from brokers for investments sold................ 3,162,732 1,203,906 232,415
Net receivable for variation margin on futures contracts.... 31,950 -- --
Prepaid expenses............................................ 2,774 472 582
Deferred organization expenses.............................. 2,163 -- --
------------ ----------- -----------
TOTAL ASSETS................................................ 116,973,073 18,643,514 23,453,532
------------ ----------- -----------
LIABILITIES:
Cash Overdraft.............................................. -- 1,031,505 577,625
Payable to brokers for investments purchased................ 2,535,954 -- 142,887
Payable for return of collateral received for securities on
loan...................................................... 7,674,841 -- --
Investment advisory fee payable............................. 54,338 11,066 14,376
Administration fee payable.................................. 14,519 2,603 3,381
Other accrued expenses...................................... 13,152 30,130 25,039
------------ ----------- -----------
TOTAL LIABILITIES........................................... 10,292,804 1,075,304 763,308
------------ ----------- -----------
NET ASSETS:
Capital..................................................... 78,421,487 13,377,070 22,723,426
Net unrealized appreciation (depreciation) from investments
and futures............................................... 16,500,938 2,659,776 1,871,446
Accumulated undistributed (distributions in excess of)
realized gain (loss) on investments and financial
futures................................................... 11,878,645 1,532,779 (1,907,571)
Accumulated undistributed (distributions in excess of) net
investment income (loss).................................. (120,801) (1,415) 2,923
------------ ----------- -----------
NET ASSETS.................................................. $106,680,269 $17,568,210 $22,690,224
============ =========== ===========
OUTSTANDING UNITS OF BENEFICIAL INTEREST (SHARES)........... 5,507,018 1,098,890 2,089,832
============ =========== ===========
Net Asset Value:
Offering and redemption price per share................. $ 19.37 $ 15.99 $ 10.86
============ =========== ===========
</TABLE>
See accompanying notes to financial statements.
40
<PAGE> 44
- --------------------------------------------------------------------------------
One Group Investment Trust
- --------------------------------------------------------------------------------
STATEMENTS OF OPERATIONS FOR THE SIX MONTHS ENDED JUNE 30, 1999
(Unaudited)
<TABLE>
<CAPTION>
GOVERNMENT
BOND BOND BALANCED
----------- ----------- ----------
<S> <C> <C> <C>
INVESTMENT INCOME:
Dividend income............................................. $ -- $ -- $ 401,777
Interest income............................................. 1,963,180 1,529,024 1,706,523
Income from securities lending.............................. -- 2,781 6,827
----------- ----------- ----------
Total income................................................ 1,963,180 1,531,805 2,115,127
----------- ----------- ----------
EXPENSES:
Investment advisory fees.................................... 152,652 110,609 429,716
Administration fees......................................... 49,524 45,399 113,075
Professional fees........................................... 16,139 6,946 10,058
Custodian fees.............................................. 10,917 6,909 12,621
Trustee fees................................................ 428 685 1,580
Other....................................................... 18,368 8,733 19,524
----------- ----------- ----------
Total Expenses before waivers............................... 248,028 179,281 586,574
Less waivers................................................ (20,170) -- --
----------- ----------- ----------
Net Expenses................................................ 227,858 179,281 586,574
----------- ----------- ----------
Net Investment Income....................................... $ 1,735,322 $1,352,524 $1,528,553
----------- ----------- ----------
REALIZED / UNREALIZED GAINS (LOSSES) FROM INVESTMENTS AND
FUTURES:
Net realized gains (losses) from investments and futures
transactions.............................................. $ (57,120) $ (79,482) $3,315,342
Net change in unrealized appreciation (depreciation) from
investments and futures................................... (2,539,960) (2,071,794) 2,080,331
----------- ----------- ----------
Net realized/unrealized gains (losses) from investments and
futures................................................... (2,597,080) (2,151,276) 5,395,673
----------- ----------- ----------
Change in net assets resulting from operations.............. $ (861,758) $ (798,752) $6,924,226
=========== =========== ==========
</TABLE>
See accompanying notes to financial statements.
41
<PAGE> 45
- --------------------------------------------------------------------------------
One Group Investment Trust
- --------------------------------------------------------------------------------
STATEMENTS OF OPERATIONS FOR THE SIX MONTHS ENDED JUNE 30, 1999
(Unaudited)
<TABLE>
<CAPTION>
LARGE CAP EQUITY DIVERSIFIED
GROWTH INDEX EQUITY
----------- ---------- -----------
<S> <C> <C> <C>
INVESTMENT INCOME:
Dividend income............................................. $ 966,387 $ 123,652 $ 420,077
Interest income............................................. 342,605 104,996 72,299
Income from securities lending.............................. 4,662 126 --
----------- ---------- ----------
Total income................................................ 1,313,654 228,774 492,376
----------- ---------- ----------
EXPENSES:
Investment advisory fees.................................... 791,128 33,177 202,067
Administration fees......................................... 224,186 15,483 48,876
Professional fees........................................... 10,011 5,176 12,971
Custodian fees.............................................. 8,616 7,090 4,667
Trustee fees................................................ 3,458 181 1,080
Other....................................................... 54,828 9,215 21,733
----------- ---------- ----------
Total expenses before waivers............................... 1,092,227 70,322 291,394
Less waivers................................................ -- (6,838) (6,260)
----------- ---------- ----------
Net Expenses................................................ 1,092,227 63,484 285,134
----------- ---------- ----------
Net Investment Income....................................... $ 221,427 $ 165,290 $ 207,242
----------- ---------- ----------
REALIZED / UNREALIZED GAINS (LOSSES) FROM INVESTMENTS AND
FUTURES:
Net realized gains (losses) from investments and futures
transactions.............................................. $24,722,145 $ 439,203 $4,143,489
Net change in unrealized appreciation (depreciation) from
investments and futures................................... 11,402,933 2,118,320 (692,477)
----------- ---------- ----------
Net realized/unrealized gains (losses) from investments and
futures................................................... 36,125,078 2,557,523 3,451,012
----------- ---------- ----------
Change in net assets resulting from operations.............. $36,346,505 $2,722,813 $3,658,254
=========== ========== ==========
</TABLE>
See accompanying notes to financial statements.
42
<PAGE> 46
- --------------------------------------------------------------------------------
One Group Investment Trust
- --------------------------------------------------------------------------------
STATEMENTS OF OPERATIONS FOR THE SIX MONTHS ENDED JUNE 30, 1999
(Unaudited)
<TABLE>
<CAPTION>
MID CAP DIVERSIFIED MID CAP
GROWTH MID CAP VALUE
------------ ----------- -----------
<S> <C> <C> <C>
INVESTMENT INCOME:
Dividend income............................................. $ 235,931 $ 63,920 $ 170,852
Interest income............................................. 58,245 19,269 84,313
Income from securities lending.............................. 11,668 -- --
------------ ----------- -----------
Total income................................................ 305,844 83,189 255,165
------------ ----------- -----------
EXPENSES:
Investment advisory fees.................................... 303,441 60,096 75,538
Administration fees......................................... 86,539 14,546 18,269
Professional fees........................................... 9,619 15,068 17,311
Custodian fees.............................................. 8,943 4,955 7,645
Trustee fees................................................ 1,477 123 152
Other....................................................... 16,626 8,654 3,601
------------ ----------- -----------
Total expenses before waivers............................... 426,645 103,442 122,516
Less waivers................................................ -- (19,137) (16,042)
------------ ----------- -----------
Net Expenses................................................ 426,645 84,305 106,474
------------ ----------- -----------
Net Investment Income (Loss)................................ $ (120,801) $ (1,116) $ 148,691
------------ ----------- -----------
REALIZED / UNREALIZED GAINS (LOSSES) FROM INVESTMENTS AND
FUTURES:
Net realized gains (losses) from investments and futures
transactions.............................................. $ 12,175,481 $1,536,421 $(1,818,365)
Net change in unrealized appreciation (depreciation) from
investments and futures................................... (7,061,997) (50,050) 2,272,752
------------ ----------- -----------
Net realized/unrealized gains (losses) from investments and
futures................................................... 5,113,484 1,486,371 454,387
------------ ----------- -----------
Change in net assets resulting from operations.............. $ 4,992,683 $1,485,255 $ 603,078
============ =========== ===========
</TABLE>
See accompanying notes to financial statements.
43
<PAGE> 47
- --------------------------------------------------------------------------------
One Group Investment Trust
- --------------------------------------------------------------------------------
STATEMENTS OF CHANGES IN NET ASSETS
<TABLE>
<CAPTION>
BOND GOVERNMENT BOND BALANCED
--------------------------- -------------------------- ---------------------------
FOR THE FOR THE FOR THE
SIX MONTHS SIX MONTHS SIX MONTHS
ENDED YEAR ENDED ENDED YEAR ENDED ENDED YEAR ENDED
JUNE 30, DECEMBER 31, JUNE 30, DECEMBER 31, JUNE 30, DECEMBER 31,
1999 1998 1999 1998 1999 1998
--------------------------- -------------------------- ---------------
(UNAUDITED) (UNAUDITED) (UNAUDITED) ------------
<S> <C> <C> <C> <C> <C> <C>
FROM INVESTMENT ACTIVITIES:
OPERATIONS:
Net investment income................. $ 1,735,322 $ 2,562,374 $ 1,352,524 $ 1,707,998 $ 1,528,553 $ 1,873,374
Net realized gains (losses) from
investments and futures
transactions........................ (57,120) 44,671 (79,482) 140,967 3,315,342 1,660,601
Net change in unrealized appreciation
(depreciation) from investments and
futures............................. (2,539,960) 1,451,053 (2,071,794) 255,875 2,080,331 8,916,609
------------ ------------ ----------- ----------- ------------ ------------
Change in net assets resulting from
operations.............................. (861,758) 4,058,098 (798,752) 2,104,840 6,924,226 12,450,584
------------ ------------ ----------- ----------- ------------ ------------
DISTRIBUTIONS TO SHAREHOLDERS:
From net investment income............ (1,730,104) (2,606,134) (1,351,503) (1,707,998) (1,551,557) (1,873,374)
In excess of net investment income.... -- -- -- (33,739) -- (26,808)
From net realized gains from
investment transactions -- (44,752) (2,360) (105,068) (396,595) (1,265,780)
In excess of realized gains on
investment transactions............. -- (12,242) -- -- -- --
Tax return of capital distribution.... -- -- -- -- -- --
------------ ------------ ----------- ----------- ------------ ------------
Changes in net assets from shareholder
distributions........................... (1,730,104) (2,663,128) (1,353,863) (1,846,805) (1,948,152) (3,165,962)
------------ ------------ ----------- ----------- ------------ ------------
CAPITAL TRANSACTIONS:
Proceeds from shares issued........... 5,120,472 28,019,206 16,348,062 19,963,136 40,212,401 49,983,354
Dividends reinvested.................. 1,730,104 2,663,128 1,353,863 1,846,805 1,948,152 3,165,962
Cost of shares redeemed............... (3,815,911) (5,415,618) (696,965) (2,245,378) (85,779) (1,034,680)
------------ ------------ ----------- ----------- ------------ ------------
Change in net assets from share
transactions............................ 3,034,665 25,266,716 17,004,960 19,564,563 42,074,774 52,114,636
------------ ------------ ----------- ----------- ------------ ------------
Change in net assets..................... 442,803 26,661,686 14,852,345 19,822,598 47,050,848 61,399,258
NET ASSETS:
Beginning of period................... 60,891,556 34,229,870 42,187,170 22,364,572 102,844,934 41,445,676
------------ ------------ ----------- ----------- ------------ ------------
End of period......................... $ 61,334,359 $60,891,556 $57,039,515 $42,187,170 $149,895,782 $102,844,934
============ ============ =========== =========== ============ ============
SHARE TRANSACTIONS:
Issued................................ 488,999 2,630,322 1,555,820 1,866,627 2,605,005 3,510,954
Reinvested............................ 166,513 269,941 131,591 173,661 125,853 215,204
Redeemed.............................. (364,727) (502,456) (66,455) (210,017) (5,711) (75,663)
------------ ------------ ----------- ----------- ------------ ------------
Change in shares......................... 290,785 2,397,807 1,620,956 1,830,271 2,725,147 3,650,495
============ ============ =========== =========== ============ ============
</TABLE>
See accompanying notes to financial statements.
44
<PAGE> 48
- --------------------------------------------------------------------------------
One Group Investment Trust
- --------------------------------------------------------------------------------
STATEMENTS OF CHANGES IN NET ASSETS
<TABLE>
<CAPTION>
LARGE CAP GROWTH EQUITY INDEX DIVERSIFIED EQUITY
--------------------------- --------------------------- --------------------------
FOR THE FOR THE FOR THE
SIX MONTHS SIX MONTHS SIX MONTHS
ENDED YEAR ENDED ENDED PERIOD ENDED ENDED YEAR ENDED
JUNE 30, DECEMBER 31, JUNE 30, DECEMBER 31, JUNE 30, DECEMBER 31,
1999 1998 1999 1998(A) 1999 1998
--------------------------- --------------------------- --------------
(UNAUDITED) (UNAUDITED) (UNAUDITED) ------------
<S> <C> <C> <C> <C> <C> <C>
FROM INVESTMENT ACTIVITIES:
OPERATIONS:
Net investment income................. $ 221,427 $ 466,393 $ 165,290 $ 74,668 $ 207,242 $ 339,073
Net realized gains (losses) from
investments and futures
transactions........................ 24,722,145 13,358,107 439,203 (52,963) 4,143,489 1,444,929
Net change in unrealized appreciation
(depreciation) from investments and
futures............................. 11,402,933 37,839,553 2,118,320 1,357,151 (692,477) 4,450,770
------------ ------------ ----------- ----------- ----------- -----------
Change in net assets resulting from
operations.............................. 36,346,505 51,664,053 2,722,813 1,378,856 3,658,254 6,234,772
------------ ------------ ----------- ----------- ----------- -----------
DISTRIBUTIONS TO SHAREHOLDERS:
From net investment income............ (214,249) (465,426) (164,249) (74,668) (208,167) (355,811)
In excess of net investment income.... -- -- -- -- -- --
From net realized gains from
investment transactions............. (16,371) (13,342,889) -- -- (307,343) (1,328,447)
In excess of realized gains on
investment transactions............. -- (57,277) -- -- -- --
Tax return of capital distribution.... -- -- -- (601) -- --
------------ ------------ ----------- ----------- ----------- -----------
Changes in net assets from shareholder
distributions........................... (230,620) (13,865,592) (164,249) (75,269) (515,510) (1,684,258)
------------ ------------ ----------- ----------- ----------- -----------
CAPITAL TRANSACTIONS:
Proceeds from shares issued........... 56,381,539 51,828,422 15,718,507 13,636,522 2,064,859 16,305,399
Dividends reinvested.................. 230,620 13,865,593 164,249 75,269 515,510 1,684,258
Cost of shares redeemed............... (2,155,489) (1,085,409) (81,281) (534,659) (2,539,847) (1,685,009)
------------ ------------ ----------- ----------- ----------- -----------
Change in net assets from share
transactions............................ 54,456,670 64,608,606 15,801,475 13,177,132 40,522 16,304,648
------------ ------------ ----------- ----------- ----------- -----------
Change in net assets..................... 90,572,555 102,407,067 18,360,039 14,480,719 3,183,266 20,855,162
NET ASSETS:
Beginning of period................... 202,034,708 99,627,641 14,480,719 -- 59,560,359 38,705,197
------------ ------------ ----------- ----------- ----------- -----------
End of period......................... $292,607,263 $202,034,708 $32,840,758 $14,480,719 $62,743,625 $59,560,359
============ ============ =========== =========== =========== ===========
SHARE TRANSACTIONS:
Issued................................ 2,745,724 2,584,144 1,350,596 1,370,180 117,256 955,005
Reinvested............................ 9,277 613,470 13,778 7,334 29,084 102,324
Redeemed.............................. (89,853) (58,686) (7,125) (57,847) (140,952) (97,531)
------------ ------------ ----------- ----------- ----------- -----------
Change in shares......................... 2,665,148 3,138,928 1,357,249 1,319,667 5,388 959,798
============ ============ =========== =========== =========== ===========
</TABLE>
- ------------
(a) For the period May 1, 1998, date of commencement of operations, through
December 31, 1998.
See accompanying notes to financial statements.
45
<PAGE> 49
- --------------------------------------------------------------------------------
One Group Investment Trust
- --------------------------------------------------------------------------------
STATEMENTS OF CHANGES IN NET ASSETS
<TABLE>
<CAPTION>
MID CAP GROWTH DIVERSIFIED MID CAP MID CAP VALUE
--------------------------- -------------------------- --------------------------
FOR THE FOR THE FOR THE
SIX MONTHS SIX MONTHS SIX MONTHS
ENDED YEAR ENDED ENDED YEAR ENDED ENDED YEAR ENDED
JUNE 30, DECEMBER 31, JUNE 30, DECEMBER 31, JUNE 30, DECEMBER 31,
1999 1998 1999 1998 1999 1998
--------------------------- -------------------------- --------------
(UNAUDITED) (UNAUDITED) (UNAUDITED) ------------
<S> <C> <C> <C> <C> <C> <C>
FROM INVESTMENT ACTIVITIES:
OPERATIONS:
Net investment income.................. $ (120,801) $ (167,466) $ (1,116) $ (14,350) $ 148,691 $ 342,114
Net realized gains (losses) from
investments and futures
transactions......................... 12,175,481 4,626,878 1,536,421 311,810 (1,818,365) 283,047
Net change in unrealized appreciation
(depreciation) from investments and
futures.............................. (7,061,997) 19,581,381 (50,050) 551,852 2,272,752 (1,346,908)
------------ ----------- ----------- ----------- ----------- -----------
Change in net assets resulting from
operations............................... 4,992,683 24,040,793 1,485,255 849,312 603,078 (721,747)
------------ ----------- ----------- ----------- ----------- -----------
DISTRIBUTIONS TO SHAREHOLDERS:
From net investment income............. -- -- (1,293) -- (145,768) (345,025)
In excess of net investment income..... -- -- -- -- -- (1,651)
From net realized gains from investment
transactions......................... -- (4,300,170) (35,521) (355,970) -- (358,921)
In excess of realized gains on
investment transactions.............. -- (132,232) -- -- -- (87,555)
Tax return of capital distribution..... -- (1,002,643) -- -- -- --
------------ ----------- ----------- ----------- ----------- -----------
Changes in net assets from shareholder
distributions............................ -- (5,435,045) (36,813) (355,970) (145,768) (793,152)
------------ ----------- ----------- ----------- ----------- -----------
CAPITAL TRANSACTIONS:
Proceeds from shares issued............ 9,440,582 19,618,361 647,994 6,254,470 1,975,847 9,477,532
Dividends reinvested................... -- 5,435,045 36,813 355,970 145,768 793,152
Cost of shares redeemed................ (426,704) (1,692,146) (2,724,906) (612,145) (2,390,057) (179,987)
------------ ----------- ----------- ----------- ----------- -----------
Change in net assets from share
transactions............................. 9,013,878 23,361,260 (2,040,099) (5,998,295) (268,442) 10,090,697
------------ ----------- ----------- ----------- ----------- -----------
Change in net assets...................... 14,006,561 41,967,008 (591,657) 6,491,637 188,868 8,575,798
NET ASSETS:
Beginning of period.................... 92,673,708 50,706,700 18,159,867 11,668,230 22,501,356 13,925,558
------------ ----------- ----------- ----------- ----------- -----------
End of period.......................... $106,680,269 $92,673,708 $17,568,210 $18,159,867 $22,690,224 $22,501,356
============ =========== =========== =========== =========== ===========
SHARE TRANSACTIONS:
Issued................................. 527,624 1,240,487 45,678 435,554 198,278 834,191
Reinvested............................. -- 305,683 2,618 25,066 14,398 77,627
Redeemed............................... (23,261) (113,075) (179,841) (41,697) (225,894) (16,644)
------------ ----------- ----------- ----------- ----------- -----------
Change in shares.......................... 504,363 1,433,095 (131,545) 418,923 (13,218) 895,174
============ =========== =========== =========== =========== ===========
</TABLE>
See accompanying notes to financial statements.
46
<PAGE> 50
- --------------------------------------------------------------------------------
One Group Investment Trust
- --------------------------------------------------------------------------------
NOTES TO FINANCIAL STATEMENTS JUNE 30, 1999
(Unaudited)
1. ORGANIZATION:
One Group Investment Trust (the Trust) was organized as a Massachusetts
Business Trust on June 7, 1993. The Trust is registered under the Investment
Company Act of 1940 as an open-end management investment company. Prior to
March 31, 1999, the Trust was comprised of five operating series: the
Government Bond Fund, the Asset Allocation Fund, the Growth Opportunities
Fund, the Large Company Growth Fund and the Equity Index Fund.
In 1998, the Trust's Declaration of Trust was amended to create four new
series. In February, 1999, the Declaration of Trust was further amended to
name the four new series as follows:
One Group Investment Trust Bond Portfolio
One Group Investment Trust Diversified Equity Portfolio
One Group Investment Trust Diversified Mid Cap Portfolio
One Group Investment Trust Mid Cap Value Portfolio
Additionally, in February, 1999, the Trust's Declaration of Trust was amended
to change the name of the Trust from "The One Group Investment Trust" to "One
Group Investment Trust" and the names of the existing series were also
changed as follows:
<TABLE>
<CAPTION>
PRIOR NAME NEW NAME
--------------------------------- --------------------------------------------------------
<S> <C>
Government Bond Fund One Group Investment Trust Government Bond Portfolio
Asset Allocation Fund One Group Investment Trust Balanced Portfolio
Growth Opportunities Fund One Group Investment Trust Mid Cap Growth Portfolio
Large Company Growth Fund One Group Investment Trust Large Cap Growth Portfolio
Equity Index Fund One Group Investment Trust Equity Index Portfolio
</TABLE>
SUBSTITUTION OF ONE GROUP INVESTMENT TRUST PORTFOLIOS FOR PEGASUS VARIABLE
FUNDS
On October 2, 1998, First Chicago NBD Corporation and BANC ONE CORPORATION
merged with and into BANK ONE CORPORATION. At that time, the Pegasus Variable
Funds were advised by First Chicago NBD Investment Management Company
(FCNIMCO) and had been sold exclusively to separate accounts of Hartford Life
and Annuity Insurance Company (Hartford) to fund variable annuity and
variable life contracts. Hartford was granted an exemptive order from the
Securities and Exchange Commission providing relief from certain rules in
order to substitute shares of five of the One Group Investment Trust
Portfolios for shares of the Pegasus Variable Funds. This substitution
occurred March 31, 1999.
On March 31, 1999, the shares of the following portfolios of the Trust were
substituted for shares of the following Pegasus Variable funds in separate
accounts maintained by Hartford:
<TABLE>
<CAPTION>
ONE GROUP INVESTMENT TRUST PORTFOLIO PEGASUS VARIABLE FUND
------------------------------------ ---------------------
<S> <C>
Bond Portfolio Bond Fund
Large Cap Growth Portfolio Growth Fund
Diversified Mid Cap Portfolio Mid-Cap Opportunity Fund
Mid Cap Value Portfolio Intrinsic Value Fund
Diversified Equity Portfolio Growth and Value Fund
</TABLE>
47
Continued
<PAGE> 51
- --------------------------------------------------------------------------------
One Group Investment Trust
- --------------------------------------------------------------------------------
NOTES TO FINANCIAL STATEMENTS, CONTINUED JUNE 30, 1999
(Unaudited)
With the exception of the Large Cap Growth Portfolio, the renamed Pegasus
Variable Funds are the surviving funds for accounting purposes.
The shares of the Portfolios are sold at net asset value to separate accounts
of insurance companies to fund variable annuity and variable life contracts.
2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES:
Organization costs incurred in connection with the organization and initial
registration of the Trust were paid by the Administrator and have been
reimbursed by the Portfolios. Such organization costs have been deferred and
are being amortized ratably over a period of sixty months from the
commencement of operations. If any of the initial required shares are
redeemed before the end of the amortization period, the proceeds of the
redemption will be reduced by the pro-rata share of the unamortized
organization costs.
SECURITY VALUATION
Securities traded on a securities exchange are valued at the last quoted sale
price on the principal exchange, or if no sale, at their fair value as
determined in good faith under consistently applied procedures authorized by
the Board of Trustees. Securities traded only in the over-the-counter (OTC)
market are valued at the last quoted sale price, or if there is no sale, at
the quoted bid price provided by an independent pricing agent. Corporate debt
securities and debt securities of U.S. issuers, including municipal
securities, are valued by a combination of daily quotes and matrix
evaluations provided by an independent pricing service approved by the Board
of Trustees. Inactive securities that have little or no trading activity are
valued by the independent pricing services by obtaining dealer quotes.
Futures contracts and options thereon traded on a commodities exchange or
board of trade are valued at the last sale price at the close of trading, or
if there was no sale, the quoted bid price at the close of trading.
Securities for which either reliable market quotations are not readily
available or for which the pricing agent does not provide a valuation that,
in the judgement of a Portfolio's investment adviser represent fair value,
shall each be valued in accordance with procedures authorized by the Board of
Trustees.
The Portfolios may invest in repurchase agreements with institutions that the
investment advisor has determined are creditworthy. Each repurchase agreement
is recorded at cost. The Portfolios require that the securities purchased in
a repurchase agreement transaction be transferred to the custodian in a
manner sufficient to enable the Portfolios to obtain those securities in the
event of a counterparty default. The seller, under the repurchase agreement,
is required to maintain the value of the securities held at not less than the
repurchase price, including accrued interest.
FEDERAL INCOME TAX
The Trust treats each Portfolio as a separate entity for federal income tax
purposes. Each Portfolio intends to continue to qualify as a regulated
investment company by complying with the provisions available to certain
investment companies as defined in applicable sections of the Internal
Revenue Code, and to make distributions from net investment income and from
net realized capital gains sufficient to relieve it from all, or
substantially all, federal income taxes.
As of December 31, 1998, the Equity Index Portfolio had a capital loss
carryforward in the amount of $48,972 which, if unused, will expire in eight
years.
SECURITY TRANSACTIONS AND INVESTMENT INCOME
Security transactions are recorded on the trade date. Net realized gains or
losses from sales of securities are determined on the specific identification
method. Dividend income is recorded on the ex-dividend date; interest
48
Continued
<PAGE> 52
- --------------------------------------------------------------------------------
One Group Investment Trust
- --------------------------------------------------------------------------------
NOTES TO FINANCIAL STATEMENTS, CONTINUED JUNE 30, 1999
(Unaudited)
income is recorded on an accrual basis and includes, where applicable, the
pro-rata amortization of premium or accretion of discount.
DIVIDENDS TO SHAREHOLDERS
Dividends are recorded on the ex-dividend date. The Portfolios declare and
pay income dividends quarterly. Distributable net realized capital gains are
declared and distributed at least annually. Dividends and distributions to
shareholders are determined in accordance with federal income tax regulations
which may differ from generally accepted accounting principles. These
"book/tax" differences are considered either permanent or temporary in
nature. To the extent that these differences are permanent in nature, such
amounts are reclassified within the capital accounts based on their nature
for federal income tax purposes; temporary differences do not require
reclassification. Dividends and distributions that exceed net investment
income and net realized gains for financial reporting purposes but not for
tax purposes are reported as dividends in excess of net investment income and
net realized gains. To the extent distributions exceed current and
accumulated earnings and profits for federal income tax purposes, they are
reported as distributions of paid-in-capital.
Accordingly, as of December 31, 1998, the capital accounts have been adjusted
by the following amounts:
<TABLE>
<CAPTION>
UNDISTRIBUTED DISTRIBUTIONS
NET INVESTMENT IN EXCESS
INCOME OF NET REALIZED GAIN CAPITAL
-------------- -------------------- ----------
<S> <C> <C> <C>
Government Bond Portfolio......................... $(33,739) $ 33,739 $ --
Balanced Portfolio................................ (52,459) 52,459 --
Mid Cap Growth Portfolio.......................... 167,466 838,039 1,005,505
Equity Index Portfolio............................ (601) -- 601
</TABLE>
As of June 30, 1999, the capital accounts have been adjusted by the following
amounts:
<TABLE>
<CAPTION>
UNDISTRIBUTED
NET INVESTMENT ACCUMULATED
INCOME REALIZED GAIN CAPITAL
-------------- ------------- -------
<S> <C> <C> <C>
Large Cap Growth Portfolio............................... $15,386 $(47) $15,339
</TABLE>
EXPENSES
Direct expenses of a Portfolio are allocated to that Portfolio. The general
expenses of the Trust are allocated to the Portfolios based on the relative
net assets of the Portfolios at the time the expense is incurred.
USE OF ESTIMATES
The preparation of financial statements in conformity with generally accepted
accounting principles requires management to make estimates and assumptions
that affect the reported amounts of assets and liabilities and disclosure of
contingent assets and liabilities at the date of the financial statements and
the reported amounts of revenues and expenses during the reporting period.
Actual results could differ from those estimates.
SECURITIES LENDING
To generate additional income, the Portfolios may lend up to 1/3 of
securities in which each Portfolio is invested, pursuant to agreements
requiring that the loan be continuously secured by collateral equal at all
times to at least 100% of the market value plus accrued interest on the
securities lent. Collateral may include cash, U.S. Government or U.S.
Government Agency securities, shares of an investment trust or mutual fund,
letters of credit or any combination of such collateral. The Portfolios
receive payments from borrowers equivalent to the dividends and
49
Continued
<PAGE> 53
- --------------------------------------------------------------------------------
One Group Investment Trust
- --------------------------------------------------------------------------------
NOTES TO FINANCIAL STATEMENTS, CONTINUED JUNE 30, 1999
(Unaudited)
interest on securities lent while simultaneously seeking to earn interest on
the investment of cash collateral. Collateral is marked to market daily to
provide a level of collateral at least equal to the market value plus accrued
interest of securities lent. There may be risks of delay in recovery of the
securities or even loss of rights in the collateral should the borrower of
the securities fail financially. However, loans will be made only to
borrowers deemed by the Advisor to be of good standing and creditworthy under
guidelines established by the Board of Trustees and when, in the judgment of
the Advisor, the consideration which can be earned currently from such
securities loans justifies the attendant risk. Loans are subject to
termination by the Portfolios or the borrower at any time, and are,
therefore, not considered to be illiquid investments. As of June 30, 1999,
the following Portfolios had securities with the following market values on
loan (amounts in thousands):
<TABLE>
<CAPTION>
MARKET VALUE MARKET VALUE MARKET VALUE
OF CASH OF NON-CASH OF LOANED
COLLATERAL COLLATERAL SECURITIES
------------ ------------ ------------
<S> <C> <C> <C>
Government Bond Portfolio................................ $2,148 $ 5,918 $7,907
Balanced Portfolio....................................... 1,051 9,061 9,909
Mid Cap Growth Portfolio................................. 7,675 -- 7,486
Large Cap Growth Portfolio............................... 1,291 -- 1,259
Equity Index Portfolio................................... 242 -- 236
</TABLE>
3. RELATED PARTY TRANSACTIONS:
As Investment Advisor, Banc One Investment Advisors Corporation manages the
investments of each Portfolio of the Trust and earns a fee, which is
calculated daily and paid monthly, of the following annual percentages of the
average daily net assets of each Portfolio:
<TABLE>
<CAPTION>
ADVISORY
PORTFOLIO FEE
------------------------------------------------------------ --------
<S> <C>
Bond Portfolio.............................................. 0.60%
Government Bond Portfolio................................... 0.45%
Balanced Portfolio.......................................... 0.70%
Large Cap Growth Portfolio.................................. 0.65%
Equity Index Portfolio...................................... 0.30%
Diversified Equity Portfolio................................ 0.74%
Mid Cap Growth Portfolio.................................... 0.65%
Diversified Mid Cap Portfolio............................... 0.74%
Mid Cap Value Portfolio..................................... 0.74%
</TABLE>
50
Continued
<PAGE> 54
- --------------------------------------------------------------------------------
One Group Investment Trust
- --------------------------------------------------------------------------------
NOTES TO FINANCIAL STATEMENTS, CONTINUED JUNE 30, 1999
(Unaudited)
Banc One Investment Advisors has voluntarily agreed to waive all or part of
its fees in order to limit the Portfolios' total operating expenses on an
annual basis to not more than the following percentages of the average daily
net assets:
<TABLE>
<CAPTION>
PERCENTAGE
OF AVERAGE
DAILY NET
PORTFOLIO ASSETS
------------------------------------------------------------ ----------
<S> <C>
Bond Portfolio.............................................. 0.75%
Government Bond Portfolio................................... 0.75%
Balanced Portfolio.......................................... 1.00%
Large Cap Growth Portfolio.................................. 1.00%
Equity Index Portfolio...................................... 0.55%
Diversified Equity Portfolio................................ 0.95%
Mid Cap Growth Portfolio.................................... 1.10%
Diversified Mid Cap Portfolio............................... 0.95%
Mid Cap Value Portfolio..................................... 0.95%
</TABLE>
For the six months ended June 30, 1999, the Investment Advisor voluntarily
waived fees in the amount of $20,170 in the Bond Portfolio, $6,838 in the
Equity Index Portfolio, $6,260 in the Diversified Equity Portfolio, $19,137
in the Diversified Mid Cap Portfolio, and $16,042 in the Mid Cap Value
Portfolio.
Nationwide Advisory Services, Inc. (NAS) provides administrative and
accounting services to the Portfolios. For its services, NAS earns a fee from
the Trust at an annual rate of .24% of the Trust's aggregate average daily
net assets (excluding the Equity Index Portfolio) up to $250 million, and
.14% of such net assets in excess of $250 million. NAS earns an annual rate
of .14% of the aggregate average daily net assets of the Equity Index
Portfolio.
Nationwide Investors Services, Inc. (NIS), an affiliate of NAS, serves as the
Transfer Agent to the Trust. For its services, NIS receives an annual fee of
.01% of the average daily net assets of each Portfolio with an annual maximum
of $6,000 for each Portfolio.
4. INVESTMENT TRANSACTIONS:
The cost of security purchases and the proceeds from the sale of securities
(excluding short-term securities and financial futures) during the six months
ended June 30, 1999 are summarized as follows:
<TABLE>
<CAPTION>
PURCHASES SALES
------------ -----------
<S> <C> <C>
Bond Portfolio........................................... $ 37,306,746 $18,864,327
Government Bond Portfolio................................ 12,665,735 4,273,206
Balanced Portfolio....................................... 73,875,684 44,475,003
Large Cap Growth Portfolio............................... 110,883,043 85,916,856
Equity Index Portfolio................................... 16,226,689 87,805
Diversified Equity Portfolio............................. 26,066,691 26,157,264
Mid Cap Growth Portfolio................................. 72,729,429 67,287,685
Diversified Mid Cap Portfolio............................ 4,766,587 6,308,014
Mid Cap Value Portfolio.................................. 27,013,450 22,796,913
</TABLE>
51
Continued
<PAGE> 55
- --------------------------------------------------------------------------------
One Group Investment Trust
- --------------------------------------------------------------------------------
NOTES TO FINANCIAL STATEMENTS, CONTINUED JUNE 30, 1999
(Unaudited)
The Balanced, Large Cap Growth, Equity Index, and Mid Cap Growth Portfolios
engaged in trading financial futures contracts. Each of these Portfolios are
exposed to market risks in excess of the amounts recognized in the statement
of assets and liabilities as a result of changes in the value of the
underlying financial instruments. Investments in financial futures require a
Portfolio to "mark to market" such futures on a daily basis, to reflect the
change in the market value of the contract at the close of each day's
trading. Typically, variation margin payments are made or received to reflect
daily unrealized gains or losses. When the contracts are closed, a Portfolio
recognizes a realized gain or loss. Realized gains and losses have been
computed on the specific identification method.
A stock index futures contract is a bilateral agreement pursuant to which two
parties agree to take or make delivery of an amount of cash equal to a
specified dollar amount times the difference between the stock index value at
the close of trading of the contracts and the price at which the futures
contract was originally struck. The purpose of entering into futures
contracts is to remain fully invested and reduce transaction costs.
Net unrealized appreciation (depreciation) on investments at June 30, 1999,
based on cost for federal income tax purposes, was as follows:
<TABLE>
<CAPTION>
NET
GROSS GROSS UNREALIZED
UNREALIZED UNREALIZED APPRECIATION
APPRECIATION (DEPRECIATION) (DEPRECIATION)
------------ -------------- --------------
<S> <C> <C> <C>
Bond Portfolio............................. $ 627,824 $ (863,448) $ (235,624)
Government Bond Portfolio.................. 199,154 (1,447,572) (1,248,418)
Balanced Portfolio......................... 15,028,647 (2,202,490) 12,826,157
Large Cap Growth Portfolio................. 69,174,574 (2,193,233) 66,981,341
Equity Index Portfolio..................... 3,945,527 (509,980) 3,435,547
Diversified Equity Portfolio............... 9,306,741 (1,022,890) 8,283,851
Mid Cap Growth Portfolio................... 20,725,150 (4,619,966) 16,105,184
Diversified Mid Cap........................ 3,287,295 (631,172) 2,656,123
Mid Cap Value.............................. 2,392,150 (561,983) 1,830,167
</TABLE>
5. SHARES HELD BY AFFILIATES:
As of June 30, 1999, Nationwide Life and Annuity Insurance Company
beneficially owned shares of the Portfolios with the following net asset
values:
<TABLE>
<S> <C>
Government Bond Portfolio................................... $6,879,241
Balanced Portfolio.......................................... 2,008,030
Large Cap Growth Portfolio.................................. 9,086,178
Equity Index Portfolio...................................... 3,108,910
Mid Cap Growth Portfolio.................................... 65,582
</TABLE>
As of June 30, 1999, Banc One Capital Corporation owned shares of the Equity
Index Portfolio with a net asset value of $932,673.
52
Continued
<PAGE> 56
- --------------------------------------------------------------------------------
One Group Investment Trust
- --------------------------------------------------------------------------------
NOTES TO FINANCIAL STATEMENTS, CONTINUED JUNE 30, 1999
(Unaudited)
6. SPECIAL MEETING OF SHAREHOLDERS:
A Special Meeting of Shareholders of One Group Investment Trust was held on
April 28, 1999. At the meeting, shareholders of record on February 28, 1999
of the five series of the trust voted and approved the following proposals:
<TABLE>
<CAPTION>
GOVERNMENT LARGE CAP EQUITY MID CAP
BOND BALANCED GROWTH INDEX GROWTH
PORTFOLIO PORTFOLIO PORTFOLIO PORTFOLIO PORTFOLIO
---------- --------- --------- --------- ---------
<S> <C> <C> <C> <C> <C>
1. To elect the Board of Trustees
of One Group Investment Trust.
Individual Trustees:
Peter C. Marshall
Shares voted for............ 4,353,231 7,365,160 9,262,253 1,605,308 5,084,751
Shares withheld............. 36,546 98,792 106,317 15,120 45,797
Charles I. Post
Shares voted for............ 4,353,231 7,365,160 9,262,253 1,605,308 5,084,751
Shares withheld............. 36,546 98,792 106,317 15,120 45,797
Frederick W. Ruebeck
Shares voted for............ 4,353,231 7,365,160 9,262,253 1,605,308 5,084,751
Shares withheld............. 36,546 98,792 106,317 15,120 45,797
Robert A. Oden, Jr.
Shares voted for............ 4,353,231 7,365,160 9,262,253 1,605,308 5,084,751
Shares withheld............. 36,546 98,792 106,317 15,120 45,797
John F. Finn
Shares voted for............ 4,353,231 7,365,160 9,262,253 1,605,308 5,084,751
Shares withheld............. 36,546 98,792 106,317 15,120 45,797
Marilyn McCoy
Shares voted for............ 4,353,231 7,365,160 9,262,253 1,605,308 5,084,751
Shares withheld............. 36,546 98,792 106,317 15,120 45,797
Julius L. Pallone
Shares voted for............ 4,353,231 7,365,160 9,262,253 1,605,308 5,084,751
Shares withheld............. 36,546 98,792 106,317 15,120 45,797
Donald L. Tuttle
Shares voted for............ 4,353,231 7,365,160 9,262,253 1,605,308 5,084,751
Shares withheld............. 36,546 98,792 106,317 15,120 45,797
2. To ratify the selection of
independent accountants.
Shares voted for............ 4,199,236 7,038,413 8,846,579 1,528,156 4,918,097
Shares voted against........ 15,097 87,870 113,718 658 39,987
Shares withheld............. 175,439 337,664 408,273 91,607 172,457
3. To eliminate a fundamental
investment restriction that
prohibits Portfolios of One
Group Investment Trust from
participating on a joint or a
joint and several basis in any
trading account in securities.
Shares voted for............ 4,004,749 6,615,718 8,294,829 1,457,242 4,442,719
Shares voted against........ 96,570 170,235 254,119 22,362 268,304
Shares withheld............. 288,453 677,993 819,616 140,817 419,511
</TABLE>
53
<PAGE> 57
- --------------------------------------------------------------------------------
One Group Investment Trust
- --------------------------------------------------------------------------------
FINANCIAL HIGHLIGHTS
<TABLE>
<CAPTION>
BOND
----------------------------------------------------
FOR SIX MONTHS YEAR ENDED PERIOD ENDED
ENDED JUNE 30, DECEMBER 31, DECEMBER 31,
1999 1998 1997(A)
-------------- ------------ ------------
(UNAUDITED)
<S> <C> <C> <C>
NET ASSET VALUE --
BEGINNING OF PERIOD.................................. $ 10.73 $ 10.44 $ 10.00
------- ------- -------
Net investment income................................ 0.30 0.57 0.37
Net realized and unrealized appreciation
(depreciation).................................... (0.45) 0.31 0.45
------- ------- -------
Total from investment operations....................... (0.15) 0.88 0.82
------- ------- -------
Distributions:
From net investment income........................... (0.30) (0.58) (0.37)
From net realized gains from investments............. -- (0.01) (0.01)
In excess of realized gains from investment
transactions...................................... -- -- --
------- ------- -------
Total distributions.................................... (0.30) (0.59) (0.38)
------- ------- -------
Net increase (decrease) in net asset value............. (0.45) 0.29 0.44
------- ------- -------
NET ASSET VALUE --
END OF PERIOD........................................ $ 10.28 $ 10.73 $ 10.44
======= ======= =======
Total return........................................... (1.45%) 8.66% 8.25%
RATIOS AND SUPPLEMENTAL DATA:
Net assets end of period (000)....................... $61,334 $60,892 $34,230
Ratio of expenses to average net assets.............. 0.75%(b) 0.75% 0.75%(b)
Ratio of expenses to average net assets excluding
waivers/reimbursements(c)......................... 0.82%(b) 0.81% 0.77%(b)
Ratio of net investment income to average net
assets............................................ 5.62%(b) 5.36% 5.97%(b)
Portfolio turnover................................... 7.68% 14.50% 14.80%
</TABLE>
- ------------
(a) Commenced operations on May 1, 1997.
(b) Annualized.
(c) Ratios calculated as if no expenses were waived.
See accompanying notes to financial statements.
54
<PAGE> 58
- --------------------------------------------------------------------------------
One Group Investment Trust
- --------------------------------------------------------------------------------
FINANCIAL HIGHLIGHTS
<TABLE>
<CAPTION>
GOVERNMENT BOND
-----------------------------------------------------------------------------------------
FOR SIX MONTHS YEAR ENDED DECEMBER 31, AUGUST 1, -
ENDED JUNE 30, --------------------------------------------------------- DECEMBER 31,
1999 1998 1997 1996 1995 1994(A)
-------------- ------------ ------------ ------------ ------------ ------------
(UNAUDITED)
<S> <C> <C> <C> <C> <C> <C>
NET ASSET VALUE, BEGINNING OF
PERIOD............................ $ 10.64 $ 10.48 $ 10.15 $ 10.48 $ 9.69 $10.00
------- ------- ------- ------- ------ ------
Net investment income............. 0.26 0.56 0.60 0.59 0.64 0.22
Net realized and unrealized
appreciation (depreciation)..... (0.43) 0.20 0.35 (0.33) 0.94 (0.31)
------- ------- ------- ------- ------ ------
Total from investment operations.... (0.17) 0.76 0.95 0.26 1.58 (0.09)
------- ------- ------- ------- ------ ------
Distributions:
From net investment income........ (0.26) (0.56) (0.60) (0.59) (0.64) (0.22)
In excess of net investment
income.......................... -- (0.01) -- -- -- --
From net realized gains from
investments..................... -- (0.03) (0.02) -- (0.15) --
------- ------- ------- ------- ------ ------
Total distributions................. (0.26) (0.60) (0.62) (0.59) (0.79) (0.22)
------- ------- ------- ------- ------ ------
Net increase (decrease) in net asset
value............................. (0.43) 0.16 0.33 (0.33) 0.79 (0.31)
------- ------- ------- ------- ------ ------
NET ASSET VALUE, END OF PERIOD...... $ 10.21 $ 10.64 $ 10.48 $ 10.15 $10.48 $ 9.69
======= ======= ======= ======= ====== ======
Total return........................ (1.56%) 7.32% 9.67% 2.69% 16.69% (.90%)
RATIOS/SUPPLEMENTAL DATA:
Net assets end of period (000).... $57,040 $42,187 $22,365 $14,622 $9,016 $5,112
Ratio of expenses to average net
assets.......................... 0.73%(b) 0.75% 0.75% 0.75% 0.75% 0.75%(b)
Ratio of expenses to average net
assets excluding
waivers/reimbursements(c)....... 0.73%(b) 0.78% 0.88% 1.01% 1.47% 1.94%(b)
Ratio of net investment income to
average net assets.............. 5.50%(b) 5.56% 6.06% 6.11% 6.54% 6.09%(b)
Ratio of net investment income to
average net assets excluding
waivers/reimbursements(c)....... 5.50%(b) 5.53% 5.93% 5.85% 5.80% 4.90%(b)
Portfolio turnover................ 39.31% 40.40% 21.30% 21.30% 34.10% 3.50%
</TABLE>
- ------------
(a) Initial public offering was August 1, 1994.
(b) Annualized.
(c) Ratios calculated as if no expenses were waived.
See accompanying notes to financial statements.
55
<PAGE> 59
- --------------------------------------------------------------------------------
One Group Investment Trust
- --------------------------------------------------------------------------------
FINANCIAL HIGHLIGHTS
<TABLE>
<CAPTION>
BALANCED
-----------------------------------------------------------------------------------------
FOR SIX MONTHS YEAR ENDED DECEMBER 31, AUGUST 1, -
ENDED JUNE 30, --------------------------------------------------------- DECEMBER 31,
1999 1998 1997 1996 1995 1994(A)
-------------- ------------ ------------ ------------ ------------ ------------
(UNAUDITED)
<S> <C> <C> <C> <C> <C> <C>
NET ASSET VALUE, BEGINNING OF
PERIOD............................ $ 15.14 $ 13.19 $ 11.93 $ 11.24 $ 9.81 $10.00
-------- -------- ------- ------- ------ ------
Net investment income (loss)...... 0.18 0.39 0.39 0.34 0.36 0.06
Net realized and unrealized
appreciation (depreciation)..... 0.66 2.14 2.31 0.98 1.64 (0.19)
-------- -------- ------- ------- ------ ------
Total from investment operations.... 0.84 2.53 2.70 1.32 2.00 (0.13)
-------- -------- ------- ------- ------ ------
Distributions:
From net investment income........ (0.18) (0.39) (0.39) (0.34) (0.36) (0.06)
From net realized gains from
investments..................... (0.05) (0.19) (1.05) (0.23) (0.21) --
In excess of realized gains from
investment transactions......... -- -- -- (0.04) -- --
Tax return of capital............. -- -- -- (0.02) -- --
-------- -------- ------- ------- ------ ------
Total distributions................. (0.23) (0.58) (1.44) (0.63) (0.57) (0.06)
-------- -------- ------- ------- ------ ------
Net increase (decrease) in net asset
value............................. 0.61 1.95 1.26 0.69 1.43 (0.19)
-------- -------- ------- ------- ------ ------
NET ASSET VALUE, END OF PERIOD...... $ 15.75 $ 15.14 $ 13.19 $ 11.93 $11.24 $ 9.81
======== ======== ======= ======= ====== ======
Total return........................ 5.57% 19.09% 22.90% 11.92% 20.69% (1.32%)
RATIOS/SUPPLEMENTAL DATA:
Net assets, end of period (000)... $149,896 $102,845 $41,446 $14,883 $5,455 $2,063
Ratio of expenses to average net
assets.......................... 0.96%(b) 1.00% 1.00% 1.00% 1.00% 1.00%(b)
Ratio of expenses to average net
assets excluding
waivers/reimbursements(c)....... 0.96%(b) 1.00% 1.15% 1.44% 1.96% 2.36%(b)
Ratio of net investment income to
average net assets.............. 2.49%(b) 2.66% 3.24% 3.27% 3.66% 1.88%(b)
Ratio of net investment income to
average net assets excluding
waivers/reimbursements(c)....... 2.49%(b) 2.66% 3.07% 2.83% 2.70% 0.52%(b)
Portfolio turnover................ 38.65% 32.10% 60.90% 64.80% 66.30% --
</TABLE>
- ------------
(a) Initial public offering was August 1, 1994.
(b) Annualized.
(c) Ratios calculated as if no expenses were waived.
See accompanying notes to financial statements.
56
<PAGE> 60
- --------------------------------------------------------------------------------
One Group Investment Trust
- --------------------------------------------------------------------------------
FINANCIAL HIGHLIGHTS
<TABLE>
<CAPTION>
LARGE CAP GROWTH
-----------------------------------------------------------------------------------------
FOR SIX MONTHS YEAR ENDED DECEMBER 31, AUGUST 1, -
ENDED JUNE 30, --------------------------------------------------------- DECEMBER 31,
1999 1998 1997 1996 1995 1994(A)
-------------- ------------ ------------ ------------ ------------ ------------
(UNAUDITED)
<S> <C> <C> <C> <C> <C> <C>
NET ASSET VALUE, BEGINNING OF
PERIOD............................ $ 22.63 $ 17.21 $ 13.67 $ 12.12 $ 9.99 $10.00
-------- -------- ------- ------- ------- ------
Net investment income (loss)...... 0.02 0.06 0.10 0.16 0.20 0.05
Net realized and unrealized
appreciation (depreciation)..... 2.61 7.03 4.25 1.86 2.20 0.01
-------- -------- ------- ------- ------- ------
Total from investment operations.... 2.63 7.09 4.35 2.02 2.40 0.06
-------- -------- ------- ------- ------- ------
Distributions:
From net investment income........ (0.02) (0.06) (0.10) (0.16) (0.20) (0.05)
From net realized gains from
investments..................... -- (1.61) (0.71) (0.30) (0.07) (0.02)
In excess of realized gains from
investment transactions......... -- -- -- (0.01) -- --
-------- -------- ------- ------- ------- ------
Total distributions................. (0.02) (1.67) (0.81) (0.47) (0.27) (0.07)
-------- -------- ------- ------- ------- ------
Net increase (decrease) in net asset
value............................. 2.61 5.42 3.54 1.55 2.13 (0.01)
-------- -------- ------- ------- ------- ------
NET ASSET VALUE, END OF PERIOD...... $ 25.24 $ 22.63 $ 17.21 $ 13.67 $ 12.12 $ 9.99
======== ======== ======= ======= ======= ======
Total return........................ 11.63% 41.27% 31.93% 16.67% 24.13% 0.52%
RATIOS/SUPPLEMENTAL DATA:
Net assets, end of period (000)... $292,607 $202,035 $99,628 $42,893 $16,119 $4,175
Ratio of expenses to average net
assets.......................... 0.90%(b) 0.93% 1.00% 0.98% 0.90% 0.90%(b)
Ratio of expenses to average net
assets excluding
waivers/reimbursements(c)....... 0.90%(b) 0.93% 1.00% 1.16% 1.64% 2.08%(b)
Ratio of net investment income to
average net assets.............. 0.18%(b)% 0.32% 0.69% 1.29% 2.02% 1.39%(b)
Ratio of net investment income to
average net assets excluding
waivers/reimbursements(c)....... 0.18%(b) 0.32% 0.69% 1.11% 1.28% 0.22%(b)
Portfolio turnover................ 37.27% 61.00% 34.40% 38.70% 37.40% 4.40%
</TABLE>
- ------------
(a) Initial public offering was August 1, 1994.
(b) Annualized.
(c) Ratios calculated as if no expenses were waived.
See accompanying notes to financial statements.
57
<PAGE> 61
- --------------------------------------------------------------------------------
One Group Investment Trust
- --------------------------------------------------------------------------------
FINANCIAL HIGHLIGHTS
<TABLE>
<CAPTION>
EQUITY INDEX
----------------------------
PERIOD ENDED
FOR SIX DECEMBER
MONTHS ENDED 31,
JUNE 30, 1999 1998(A)
------------- ------------
(UNAUDITED)
<S> <C> <C>
NET ASSET VALUE, BEGINNING OF PERIOD........................ $ 10.97 $ 10.00
------- -------
Net investment income (loss).............................. 0.07 0.08
Net realized and unrealized appreciation (depreciation)... 1.30 0.97
------- -------
Total from investment operations............................ 1.37 1.05
------- -------
Distributions:
From net investment income................................ (0.07) (0.08)
------- -------
Total distributions......................................... (0.07) (0.08)
------- -------
Net increase (decrease) in net asset value.................. 1.30 0.97
------- -------
NET ASSET VALUE, END OF PERIOD.............................. $ 12.27 $ 10.97
======= =======
Total return................................................ 12.52% 10.52%
RATIOS/SUPPLEMENTAL DATA:
Net assets, end of period (000)........................... $32,841 $14,481
Ratio of expenses to average net assets................... 0.55%(b) 0.55%(b)
Ratio of expenses to average net assets excluding
waivers/reimbursements(c)............................... 0.61%(b) 1.13%(b)
Ratio of net investment income to average net assets...... 1.49%(b) 1.45%(b)
Ratio of net investment income to average net assets
excluding waivers/reimbursements(c)..................... 1.43%(b) 0.87%(b)
Portfolio turnover........................................ 0.46% 2.30%
</TABLE>
- ------------
(a) Initial public offering was May 1, 1998.
(b) Annualized.
(c) Ratios calculated as if no expenses were waived.
See accompanying notes to financial statements.
58
<PAGE> 62
- --------------------------------------------------------------------------------
One Group Investment Trust
- --------------------------------------------------------------------------------
FINANCIAL HIGHLIGHTS
<TABLE>
<CAPTION>
DIVERSIFIED EQUITY
--------------------------------------------------------------------------
FOR SIX MONTHS YEAR ENDED DECEMBER 31, PERIOD ENDED
ENDED JUNE 30, ------------------------------------------ DECEMBER 31,
1999 1998 1997 1996 1995(A)
-------------- ------------ ------------ ------------ ------------
(UNAUDITED)
<S> <C> <C> <C> <C> <C>
NET ASSET VALUE, BEGINNING OF PERIOD.......... $ 17.80 $ 16.22 $ 13.19 $11.63 $10.00
------- ------- ------- ------ ------
Net investment income....................... 0.06 0.11 0.13 0.15 0.13
Net realized and unrealized appreciation
(depreciation)............................ 1.01 2.00 3.38 2.02 1.63
------- ------- ------- ------ ------
Total from investment operations.............. 1.07 2.11 3.51 2.17 1.76
------- ------- ------- ------ ------
Distributions:
From net investment income.................. (0.06) (0.12) (0.13) (0.14) (0.13)
From net realized gains from investments.... (0.09) (0.41) (0.35) (0.47) --
------- ------- ------- ------ ------
Total distributions........................... (0.15) (0.53) (0.48) (0.61) (0.13)
------- ------- ------- ------ ------
Net increase (decrease) in net asset value.... 0.92 1.58 3.03 1.56 1.63
------- ------- ------- ------ ------
NET ASSET VALUE, END OF PERIOD................ $ 18.72 $ 17.80 $ 16.22 $13.19 $11.63
======= ======= ======= ====== ======
Total return.................................. 6.06% 13.10% 26.80% 18.75% 17.62%
RATIOS/SUPPLEMENTAL DATA:
Net assets end of period (000).............. $62,744 $59,560 $38,705 $8,603 $3,754
Ratio of expenses to average net assets..... 0.95%(b) 0.95% 0.93% 0.85% 0.85%(b)
Ratio of expenses to average net assets
excluding waivers/reimbursements(c)....... 0.97%(b) 1.02% 1.10% 2.27% 4.93%(b)
Ratio of net investment income to average
net assets................................ 0.69%(b) .69% .93% 1.35% 1.78%(b)
Portfolio turnover.......................... 45.11% 43.20% 31.10% 46.80% 17.50%
</TABLE>
- ------------
(a) Commenced operations on March 30, 1995.
(b) Annualized.
(c) Ratios calculated as if no expenses were waived.
See accompanying notes to financial statements.
59
<PAGE> 63
- --------------------------------------------------------------------------------
One Group Investment Trust
- --------------------------------------------------------------------------------
FINANCIAL HIGHLIGHTS
<TABLE>
<CAPTION>
MID CAP GROWTH
-----------------------------------------------------------------------------------------
FOR SIX MONTHS YEAR ENDED DECEMBER 31, AUGUST 1,-
ENDED JUNE 30, --------------------------------------------------------- DECEMBER 31,
1999 1998 1997 1996 1995 1994(A)
-------------- ------------ ------------ ------------ ------------ ------------
(UNAUDITED)
<S> <C> <C> <C> <C> <C> <C>
NET ASSET VALUE, BEGINNING OF
PERIOD............................ $ 18.52 $ 14.21 $ 12.11 $ 11.52 $ 9.70 $10.00
-------- ------- ------- ------- ------ ------
Net investment income (loss)...... (0.02) (0.03) (0.03) 0.18 0.04 --
Net realized and unrealized
appreciation (depreciation)..... 0.87 5.95 3.63 1.62 2.29 (0.30)
-------- ------- ------- ------- ------ ------
Total from investment operations.... 0.85 5.92 3.60 1.80 2.33 (0.30)
-------- ------- ------- ------- ------ ------
Distributions:
From net investment income........ -- -- -- (0.19) (0.04) --
From net realized gains from
investments..................... -- (1.38) (1.48) (0.78) (0.47) --
In excess of realized gains from
investment transactions......... -- (0.03) -- (0.24) -- --
Tax return of capital............. -- (0.20) (0.02) -- -- --
-------- ------- ------- ------- ------ ------
Total distributions................. -- (1.61) (1.50) (1.21) (0.51) --
-------- ------- ------- ------- ------ ------
Net increase (decrease) in net asset
value............................. 0.85 4.31 2.10 0.59 1.82 (0.30)
-------- ------- ------- ------- ------ ------
NET ASSET VALUE, END OF PERIOD...... $ 19.37 $ 18.52 $ 14.21 $ 12.11 $11.52 $ 9.70
======== ======= ======= ======= ====== ======
Total return........................ 4.59% 38.82% 29.81% 15.67% 24.06% (3.00%)
RATIOS/SUPPLEMENTAL DATA:
Net assets, end of period (000)... $106,680 $92,674 $50,707 $22,339 $6,685 $940
Ratio of expenses to average net
assets.......................... .91%(b) .97% 1.10% 1.06% 0.90% 0.90% (b)
Ratio of expenses to average net
assets excluding
waivers/reimbursements(c)....... .91%(b) .97% 1.11% 1.40% 2.78% 2.96% (b)
Ratio of net investment income to
average net assets.............. (.26%)(b) (.25% ) (.25%) 1.85% 0.46% (0.17%)(b)
Ratio of net investment income to
average net assets excluding
waivers/reimbursements(c)....... (.26%)(b) (.25%) (.26%) 1.51% (1.42%) (2.22%)(b)
Portfolio turnover................ 73.17% 87.70% 175.60% 326.90% 193.30% 3.50%
</TABLE>
- ------------
(a) Initial public offering was August 1, 1994.
(b) Annualized.
(c) Ratios calculated as if no expenses were waived.
See accompanying notes to financial statements.
60
<PAGE> 64
- --------------------------------------------------------------------------------
One Group Investment Trust
- --------------------------------------------------------------------------------
FINANCIAL HIGHLIGHTS
<TABLE>
<CAPTION>
DIVERSIFIED MID CAP
--------------------------------------------------------------------------
FOR SIX MONTHS YEAR ENDED DECEMBER 31, PERIOD ENDED
ENDED JUNE 30, ------------------------------------------ DECEMBER 31,
1999 1998 1997 1996 1995(A)
-------------- ------------ ------------ ------------ ------------
(UNAUDITED)
<S> <C> <C> <C> <C> <C>
NET ASSET VALUE, BEGINNING OF PERIOD................ $ 14.76 $ 14.38 $ 13.46 $11.02 $10.00
-------- ------- ------- ------ ------
Net investment income............................. (0.03) (0.01) 0.01 0.03 0.05
Net realized and unrealized appreciation
(depreciation).................................. 1.29 0.70 3.55 2.67 1.02
-------- ------- ------- ------ ------
Total from investment operations.................... 1.26 0.69 3.56 2.70 1.07
-------- ------- ------- ------ ------
Distributions:
From net investment income........................ -- -- (0.01) (0.03) (0.05)
From net realized gains from investments.......... (0.03) (0.31) (2.63) (0.23) --
-------- ------- ------- ------ ------
Total distributions................................. (0.03) (0.31) (2.64) (0.26) (0.05)
-------- ------- ------- ------ ------
Net increase (decrease) in net asset value.......... 1.23 0.38 0.92 2.44 1.02
-------- ------- ------- ------ ------
NET ASSET VALUE, END OF PERIOD...................... $ 15.99 $ 14.76 $ 14.38 $13.46 $11.02
======== ======= ======= ====== ======
Total return........................................ 8.56% 4.91% 26.65% 24.53% 10.73%
RATIOS/SUPPLEMENTAL DATA:
Net assets end of period (000).................... $ 17,568 $18,160 $11,668 $9,216 $4,972
Ratio of expenses to average net assets........... 0.94% (b) 0.95% 0.91% 0.85% 0.85%(b)
Ratio of expenses to average net assets excluding
waivers/reimbursements(c)....................... 1.15% (b) 1.52% 1.49% 2.11% 4.64%(b)
Ratio of net investment income to average net
assets.......................................... (.01%)(b) (.10%) .04% .28% .67%(b)
Portfolio turnover................................ 27.70% 26.20% 80.70% 37.40% 32.10%
</TABLE>
- ------------
(a) Commenced operations on March 30, 1995.
(b) Annualized.
(c) Ratios calculated as if no expenses were waived.
See accompanying notes to financial statements.
61
<PAGE> 65
- --------------------------------------------------------------------------------
One Group Investment Trust
- --------------------------------------------------------------------------------
FINANCIAL HIGHLIGHTS
<TABLE>
<CAPTION>
MID CAP VALUE
--------------------------------------------
FOR SIX MONTHS YEAR ENDED PERIOD ENDED
ENDED JUNE 30, DECEMBER 31, DECEMBER 31,
1999 1998 1997(A)
-------------- ------------ ------------
(UNAUDITED)
<S> <C> <C> <C>
NET ASSET VALUE, BEGINNING OF PERIOD........................ $ 10.70 $ 11.53 $ 10.00
------- ------- -------
Net investment income..................................... 0.07 0.21 0.12
Net realized and unrealized appreciation (depreciation)... 0.16 (0.58) 1.57
------- ------- -------
Total from investment operations............................ 0.23 (0.37) 1.69
------- ------- -------
Distributions:
From net investment income................................ (0.07) (0.21) (0.12)
From net realized gains from investments.................. -- (0.20) (0.04)
In excess of realized gains from investment
transactions............................................ -- (0.05) --
------- ------- -------
Total distributions......................................... (0.07) (0.46) (0.16)
------- ------- -------
Net increase (decrease) in net asset value.................. 0.16 (0.83) 1.53
------- ------- -------
NET ASSET VALUE, END OF PERIOD.............................. $ 10.86 $ 10.70 $ 11.53
======= ======= =======
Total return................................................ 2.16% (3.31%) 16.96%
RATIOS/SUPPLEMENTAL DATA:
Net assets end of period (000)............................ $22,690 $22,501 $13,926
Ratio of expenses to average net assets................... 0.95%(b) 0.95% 0.95%(b)
Ratio of expenses to average net assets excluding
waivers/reimbursements(c)............................... 0.81%(b) 1.27% 1.22%(b)
Ratio of net investment income to average net assets...... 1.33%(b) 1.90% 1.83%(b)
Portfolio turnover........................................ 119.43% 39.30% 19.60%
</TABLE>
- ------------
(a) Commenced operations on May 1, 1997.
(b) Annualized.
(c) Ratios calculated as if no expenses were waived.
See accompanying notes to financial statements.
62
