ELCA BOARD OF PENSIONS
13F-E, 1995-05-04
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                       SECURITIES AND EXCHANGE COMMISSION                                                                         
                                   FORM 13F-E                                                                                     
                                                                                                                                  
                                                                                                                                  
Report for the Calendar Year or Quarter Ended:    03/31/95                                                                        
                                                                                                                                  
                                                                                                                                  
Institutional Investment Manager:                                                                                                 
                                                                                                                                  
CATHERINE A. PITTENGER OF ELCA BOARD OF PENSIONS                                                                                  
800 MARQUETTE AVE.                                                                                                                
SUITE 1050                                                                                                                        
MINNEAPOLIS                                       MN            55402-0000                                                        
                                                                                                                                  
                                                                                                                                  
 I represent that I am authorized to submit this form and that                                                                    
all information in this form and the attachments to it are true,                                                                  
correct and complete and I understand that all required items,                                                                    
statements and schedules are integral parts of this form and that                                                                 
the submission of any amendment represents that all unamended                                                                     
items, statements and schedules remain true, correct and complete                                                                 
as previously submitted.                                                                                                          
                                                                                                                                  
 I am signing this report as required by the Securities Exchange                                                                  
Act of 1934                                                                                                                       
                                                                                                                                  
                                                                                                                                  
Name, Title and Telephone Number of Person Submitting Report:                                                                     
                                                                                                                                  
    FRANK J. MCNAMARA              LEGAL COUNSEL                617-722-7770                                                      
                                                                                                                                  
                                                                                                                                  
Signature, Place and Date of Signing:                                                                                             
                                                                                                                                  
/s/ FRANK J. MCNAMARA              BOSTON                       MA    04/24/95                                                    
                                                                                                                                  
                                                                                                                                  
                                                                                                                                  
                                                                                                                                  
                                                                                                                                  
                                                                                                                                  
                                                                                                                                  
                                                                                                                                  
                                                                                                                                  
                                                                                                                                  
                                                                                                                                  
                                                                                                                                  
                                                                                                                                  
                                                                                                                                  
                                                                                                                                  
                                                                                                                                  
                                                                                                                                  
                                                                                                                                  
                                                                                                                                  
                                                                                                                                  
                                                                                                                                  
                                                                                                                                  
                                                                                                                                  
<PAGE>      PAGE   2                                                                                                              
                                                           VALUE    SHARES/ SH/ PUT/ INVSTMT            -----VOTING AUTHORITY-----
NAME OF ISSUER                 -TITLE OF CLASS- --CUSIP-- (x$1000)  PRN AMT PRN CALL DSCRETN -MANAGERS-      SOLE   SHARED    NONE
                                                                                                                                  
AHMANSON H F & CO              COM              008677106     3546   197000 SH       SOLE                 197000                  
AMERICAN EXPRESS CO            COM              025816109     3871   111000 SH       SOLE                 111000                  
AMERICAN GENERAL CORP          COM              026351106     3686   114300 SH       SOLE                 114300                  
AMERICAN HOME PRODS CORP       COM              026609107     1496    21000 SH       SOLE                  21000                  
AMERICAN INTL GROUP INC        COM              026874107     2843    27300 SH       SOLE                  27300                  
ANHEUSER BUSCH COS INC         COM              035229103     2879    49000 SH       SOLE                  49000                  
BAXTER INTL INC                COM              071813109     2784    85000 SH       SOLE                  85000                  
BEVERLY ENTERPRISES INC        COM              087851101     2538   175000 SH       SOLE                 175000                  
BURLINGTON RES INC             COM              122014103     2649    65000 SH       SOLE                  65000                  
CIPSCO INC                     COM              125539106     2018    70500 SH       SOLE                  70500                  
CENTEX CORP                    COM              152312104     1096    45200 SH       SOLE                  45200                  
CHEMICAL BKG CORP              COM              163722101     2888    76500 SH       SOLE                  76500                  
CORNING INC                    COM              219350105     2452    68100 SH       SOLE                  68100                  
DEAN FOODS CO                  COM              242361103     1384    49000 SH       SOLE                  49000                  
DEXTER CORP                    COM              252165105     1422    65000 SH       SOLE                  65000                  
DOLE FOOD INC                  COM              256605106     1929    66500 SH       SOLE                  66500                  
DONNELLEY R R & SONS CO        COM              257867101     2038    59300 SH       SOLE                  59300                  
E SYS INC                      COM PAR $1       269157301     2305    50800 SH       SOLE                  50800                  
EASTERN ENTERPRISES            COM              27637F100     1887    68000 SH       SOLE                  68000                  
EXXON CORP                     COM              302290101     2179    32700 SH       SOLE                  32700                  
GTE CORP                       COM              362320103     2760    83000 SH       SOLE                  83000                  
GENERAL MTRS CORP              COM              370442105     3608    82000 SH       SOLE                  82000                  
GENERAL RE CORP                COM              370563108     2825    21400 SH       SOLE                  21400                  
GIDDINGS & LEWIS INC WIS       COM              375048105     3562   209500 SH       SOLE                 209500                  
HONEYWELL INC                  COM              438506107     2527    67600 SH       SOLE                  67600                  
INCO LTD                       COM              453258402     2893   103800 SH       SOLE                 103800                  
INGERSOLL RAND CO              COM              456866102     3804   115700 SH       SOLE                 115700                  
INTERNATIONAL MULTIFOODS CORP  COM              460043102     1447    72800 SH       SOLE                  72800                  
JOHNSON & JOHNSON              COM              478160104     1577    26500 SH       SOLE                  26500                  
LIMITED INC                    COM              532716107     3105   135000 SH       SOLE                 135000                  
LIZ CLAIBORNE INC              COM              539320101     2876   162000 SH       SOLE                 162000                  
LUBRIZOL CORP                  COM              549271104     2714    77000 SH       SOLE                  77000                  
MACFRUGALS BARGAINS CLOSE OUTS COM              554152108     1078    75000 SH       SOLE                  75000                  
MONSANTO CO                    COM              611662107     2391    29800 SH       SOLE                  29800                  
MONTANA POWER CO               COM              612085100     2794   122800 SH       SOLE                 122800                  
MORGAN J P & CO INC            COM              616880100     3294    54000 SH       SOLE                  54000                  
NYNEX CORP                     COM              670768100     2074    52500 SH       SOLE                  52500                  
PACIFICORP                     COM              695114108     2093   108000 SH       SOLE                 108000                  
PERKIN ELMER CORP              COM              714041100     1485    51000 SH       SOLE                  51000                  
PITNEY BOWES INC               COM              724479100     2448    68000 SH       SOLE                  68000                  
PROVIDIAN CORP                 COM              744061102     3548   101000 SH       SOLE                 101000                  
QUESTAR CORP                   COM              748356102     2682    89400 SH       SOLE                  89400                  
SHERWIN WILLIAMS CO            COM              824348106     1999    59000 SH       SOLE                  59000                  
SNAP ON INC                    COM              833034101     2040    55900 SH       SOLE                  55900                  
SUN MICROSYSTEMS INC           COM              866810104     1286    37000 SH       SOLE                  37000                  
SUPERVALU INC                  COM              868536103     2755   103000 SH       SOLE                 103000                  
TEXACO INC                     COM              881694103     2852    42800 SH       SOLE                  42800                  
TRANSCANADA PIPELINES LTD      COM              893526103     3315   260000 SH       SOLE                 260000                  
U S WEST INC                   COM              912889102     3210    80000 SH       SOLE                  80000                  
WOOLWORTH CORP                 COM              980883102     3395   183500 SH       SOLE                 183500                  
                                                                                                                                  
                                                                                                                                  
                                                                                                                                  
                                                                                                                                  
                                                                                                                                  
                                                                                                                                  
<PAGE>      PAGE   3                                                                                                              
                                                           VALUE    SHARES/ SH/ PUT/ INVSTMT            -----VOTING AUTHORITY-----
NAME OF ISSUER                 -TITLE OF CLASS- --CUSIP-- (x$1000)  PRN AMT PRN CALL DSCRETN -MANAGERS-      SOLE   SHARED    NONE
                                                                                                                                  
XEROX CORP                     COM              984121103     2418    20600 SH       SOLE                  20600                  
YELLOW CORP                    COM              985509108      936    58500 SH       SOLE                  58500                  
REPORT SUMMARY                 52 DATA RECORDS              129681            0 OTHER MANAGERS ON WHOSE BEHALF REPORT IS FILED    
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