UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                   FORM 13F

                              FORM 13F COVER PAGE


Report for the Calendar Year or Quarter Ended: March 31, 2004
                                               -----------------------

Check Here if Amendment / /; Amendment Number:
                                               ---------
   This Amendment (Check only one.):    / / is a restatement.
                                        / / adds new holdings entries.

Institutional Investment Manager Filing this Report:

   Name:         Verizon Investment Management Corp.
                 -----------------------------------
   Address:      695 Main Street, 6th Floor
                 -----------------------------------
                 Stamford, Connecticut  06901
                 -----------------------------------

                 -----------------------------------

Form 13F File Number: 028-04063
                      ---------------------

The institutional investment manager filing this report and the person by
whom it is signed hereby represent that the person signing the report is
authorized to submit it, that all information contained herein is true,
correct and complete, and that it is understood that all required items,
statements, schedules, lists, and tables, are considered integral parts of
this form.

Person Signing this Report on Behalf of Reporting Manager:

Name:    William J. Raver
         -------------------------------
Title:   Chief Operating Officer
         -------------------------------
Phone:   203 965-3361
         -------------------------------

Signature, Place, and Date of Signing:

   /S/                                Stamford, Connecticut      5/04/04
   -------------------------------    ---------------------   -------------
           [Signature]                    [City, State]          [Date]

Report Type (Check only one.):

/X/ 13F HOLDINGS REPORT. (Check here if all holdings of this reporting
    manager are reported in this report.)

/ / 13F NOTICE. (Check here if no holdings reported are in this report,
    and all holdings are reported by other reporting manager(s).)

/ / 13F COMBINATION REPORT. (Check here if a portion of the holdings for this
    reporting manager are reported in this report and a portion are reported by
    other reporting manager(s).)



                             FORM 13F SUMMARY PAGE

Report Summary:


Number of Other Included Managers:         0
                                        --------------------

Form 13F Information Table Entry Total:    949
                                        --------------------

Form 13F Information Table Value Total:  $5,795,569
                                        --------------------
                                            (thousands)


List of Other Included Managers:

Provide a numbered list of the name(s) and Form 13F file number(s) of all
institutional investment managers with respect to which this report is filed,
other than the manager filing this report.

NONE



                           FORM 13F INFORMATION TABLE

                       VERIZON INVESTMENT MANAGEMENT CORP.
                     FORM 13F - SOLE INSTR V. NONE AUTHORITY
                                 MARCH 31, 2004



          ITEM 1:               ITEM 2:       ITEM 3:    ITEM 4:     ITEM 5:        ITEM 6:         ITEM 7:         ITEM 8:
---------------------------- --------------  --------- ------------ --------- -------------------- -------- -----------------------
                                                                                INV. DISCRETION             VOTING AUTHORITY SHARES
                                                                              --------------------          -----------------------
                                                                               (A)   (B)     (C)             (A)  (B)       (C)
                                                                              ---- -------- ------          ---- ------ -----------
                                                       PENSION FAIR SHARES OR       SHARED         MANAGERS
                                               CUSIP   MARKET VALUE PRINCIPAL      AS DEF.  SHARED   SEE
NAME OF ISSUER               TITLE OF CLASS   NUMBER      ($000)      AMOUNT  SOLE INSTR. V OTHER   INSTR.V SOLE SHARED    NONE
---------------------------- --------------  --------- ------------ --------- ---- -------- ------ -------- ---- ------ -----------
                                                                                         
ACE LTD                      ORD             G0070K103        1,033    24,205  X                                             24,205
COOPER INDS LTD              CL A            G24182100        4,020    70,307  X                                             70,307
EVEREST RE GROUP LTD         COM             G3223R108          752     8,800  X                                              8,800
GLOBALSANTAFE CORP           SHS             G3930E101          350    12,600  X                                             12,600
INGERSOLL-RAND COMPANY LTD   CL A            G4776G101        5,615    83,001  X                                             83,001
IPC HLDGS LTD                ORD             G4933P101        1,410    35,800  X                                             35,800
NABORS INDUSTRIES LTD        SHS             G6359F103          766    16,741  X                                             16,741
NOBLE CORPORATION            SHS             G65422100          447    11,628  X                                             11,628
SCOTTISH RE GROUP LTD        ORD             G7885T104          525    21,700  X                                             21,700
TRANSOCEAN INC               ORD             G90078109        1,618    58,026  X                                             58,026
WEATHERFORD INTERNATIONAL LT COM             G95089101          698    16,608  X                                             16,608
XL CAP LTD                   CL A            G98255105          949    12,482  X                                             12,482
ALCON INC                    COM SHS         H01301102          576     9,100  X                                              9,100
A D C TELECOMMUNICATIONS     COM             000886101          499   172,189  X                                            172,189
AFLAC INC                    COM             001055102        6,995   174,257  X                                            174,257
AES CORP                     COM             00130H105        1,464   171,594  X                                            171,594
AT&T CORP                    COM NEW         001957505        6,996   357,469  X                                            357,469
AT&T WIRELESS SVCS INC       COM             00209A106       13,481   990,554  X                                            990,554
ABBOTT LABS                  COM             002824100       34,708   844,489  X                                            844,489
ABERCROMBIE & FITCH CO       CL A            002896207          655    19,347  X                                             19,347
ACTIVISION INC NEW           COM NEW         004930202          985    62,250  X                                             62,250
ACXIOM CORP                  COM             005125109          294    13,377  X                                             13,377
ADOBE SYS INC                COM             00724F101        4,128   105,041  X                                            105,041
ADTRAN INC                   COM             00738A106          251     8,344  X                                              8,344
ADVANCE AUTO PARTS INC       COM             00751Y106        1,781    43,800  X                                             43,800
ADVANCED FIBRE COMMUNICATION COM             00754A105          227    10,262  X                                             10,262
ADVANCED MICRO DEVICES INC   COM             007903107        2,950   181,757  X                                            181,757
AETNA INC NEW                COM             00817Y108        8,294    92,446  X                                             92,446
AFFILIATED COMPUTER SERVICES CL A            008190100        3,736    71,994  X                                             71,994
AFFYMETRIX INC               COM             00826T108          421    12,464  X                                             12,464
AGERE SYS INC                CL B            00845V209        1,083   347,068  X                                            347,068
AGILENT TECHNOLOGIES INC     COM             00846U101        3,394   107,310  X                                            107,310
AIR PRODS & CHEMS INC        COM             009158106        5,003    99,818  X                                             99,818
ALBEMARLE CORP               COM             012653101          218     7,500  X                                              7,500
ALBERTO CULVER CO            COM             013068101        5,068   115,525  X                                            115,525
ALBERTSONS INC               COM             013104104        2,227   100,520  X                                            100,520
ALCOA INC                    COM             013817101       14,891   429,268  X                                            429,268
ALLEGHENY ENERGY INC         COM             017361106          159    11,633  X                                             11,633
ALLERGAN INC                 COM             018490102        8,034    95,461  X                                             95,461
ALLETE INC                   COM             018522102        1,625    46,300  X                                             46,300
ALLIANCE DATA SYSTEMS CORP   COM             018581108          511    15,235  X                                             15,235
ALLIANT TECHSYSTEMS INC      COM             018804104          605    11,128  X                                             11,128
ALLIED CAP CORP NEW          COM             01903Q108          227     7,496  X                                              7,496
ALLIED WASTE INDS INC        COM PAR$.01NEW  019589308          850    63,876  X                                             63,876
ALLSTATE CORP                COM             020002101       18,424   405,274  X                                            405,274
ALLTEL CORP                  COM             020039103        9,989   200,213  X                                            200,213
ALTERA CORP                  COM             021441100        4,994   243,850  X                                            243,850
ALTRIA GROUP INC             COM             02209S103       56,874 1,044,510  X                                          1,044,510
AMAZON COM INC               COM             023135106        7,924   183,090  X                                            183,090
AMBAC FINL GROUP INC         COM             023139108        5,601    75,913  X                                             75,913
AMERADA HESS CORP            COM             023551104        2,282    34,961  X                                             34,961
AMEREN CORP                  COM             023608102        1,798    39,021  X                                             39,021
AMERICAN EAGLE OUTFITTERS NE COM             02553E106          528    19,600  X                                             19,600
AMERICAN ELEC PWR INC        COM             025537101        5,433   165,032  X                                            165,032
AMERICAN EXPRESS CO          COM             025816109       30,869   595,354  X                                            595,354
AMERICAN INTL GROUP INC      COM             026874107       87,936 1,232,463  X                                          1,232,463
AMERICAN PHARMACEUTICALS PTN COM             02886P109        2,285    48,715  X                                             48,715
AMERICAN PHYSICIANS CAPITAL  COM             028884104          842    40,290  X                                             40,290


                                        1




          ITEM 1:               ITEM 2:       ITEM 3:    ITEM 4:     ITEM 5:        ITEM 6:         ITEM 7:         ITEM 8:
---------------------------- --------------  --------- ------------ --------- -------------------- -------- -----------------------
                                                                                INV. DISCRETION             VOTING AUTHORITY SHARES
                                                                              --------------------          -----------------------
                                                                               (A)   (B)     (C)             (A)  (B)       (C)
                                                                              ---- -------- ------          ---- ------ -----------
                                                       PENSION FAIR SHARES OR       SHARED         MANAGERS
                                               CUSIP   MARKET VALUE PRINCIPAL      AS DEF.  SHARED   SEE
NAME OF ISSUER               TITLE OF CLASS   NUMBER      ($000)      AMOUNT  SOLE INSTR. V OTHER   INSTR.V SOLE SHARED    NONE
---------------------------- --------------  --------- ------------ --------- ---- -------- ------ -------- ---- ------ -----------
                                                                                         
AMERICAN PWR CONVERSION CORP COM             029066107        2,493   108,458  X                                            108,458
AMERICAN STD COS INC DEL     COM             029712106        3,834    33,710  X                                             33,710
AMERICAN TOWER CORP          CL A            029912201          550    48,502  X                                             48,502
AMERICREDIT CORP             COM             03060R101          267    15,694  X                                             15,694
AMERISTAR CASINOS INC        COM             03070Q101          734    21,900  X                                             21,900
AMERISOURCEBERGEN CORP       COM             03073E105        2,421    44,273  X                                             44,273
AMERITRADE HLDG CORP NEW     COM             03074K100        1,865   121,087  X                                            121,087
AMETEK INC NEW               COM             031100100        1,790    69,808  X                                             69,808
AMGEN INC                    COM             031162100       47,096   809,903  X                                            809,903
AMKOR TECHNOLOGY INC         COM             031652100          283    19,310  X                                             19,310
AMPHENOL CORP NEW            CL A            032095101          707    23,806  X                                             23,806
AMSOUTH BANCORPORATION       COM             032165102        1,410    59,989  X                                             59,989
AMYLIN PHARMACEUTICALS INC   COM             032346108          464    19,588  X                                             19,588
ANADARKO PETE CORP           COM             032511107        6,194   119,445  X                                            119,445
ANALOG DEVICES INC           COM             032654105       12,735   265,266  X                                            265,266
ANDREW CORP                  COM             034425108        1,056    60,340  X                                             60,340
ANDRX CORP DEL               ANDRX GROUP     034553107          544    19,988  X                                             19,988
ANHEUSER BUSCH COS INC       COM             035229103       23,500   460,791  X                                            460,791
ANSYS INC                    COM             03662Q105          501    12,600  X                                             12,600
ANTHEM INC                   COM             03674B104        9,515   104,974  X                                            104,974
AON CORP                     COM             037389103        1,183    42,391  X                                             42,391
APACHE CORP                  COM             037411105        6,936   160,678  X                                            160,678
APARTMENT INVT & MGMT CO     CL A            03748R101          427    13,735  X                                             13,735
APOLLO GROUP INC             CL A            037604105       13,532   157,062  X                                            157,062
APOLLO GROUP INC             COM UNV PHOENX  037604204        6,125    70,384  X                                             70,384
APPLE COMPUTER INC           COM             037833100        4,182   154,671  X                                            154,671
APPLEBEES INTL INC           COM             037899101        3,261    79,009  X                                             79,009
APRIA HEALTHCARE GROUP INC   COM             037933108          321    10,712  X                                             10,712
APPLERA CORP                 COM AP BIO GRP  038020103        1,142    57,747  X                                             57,747
APPLIED MICRO CIRCUITS CORP  COM             03822W109          372    65,138  X                                             65,138
APPLIED MATLS INC            COM             038222105       23,923 1,121,588  X                                          1,121,588
APTARGROUP INC               COM             038336103        1,155    30,068  X                                             30,068
ARAMARK CORP                 CL B            038521100          519    18,932  X                                             18,932
ARCHER DANIELS MIDLAND CO    COM             039483102        1,468    86,991  X                                             86,991
ARCHSTONE SMITH TR           COM             039583109          318    10,783  X                                             10,783
ARROW ELECTRS INC            COM             042735100          923    36,257  X                                             36,257
ASHLAND INC                  COM             044204105          487    10,475  X                                             10,475
ASSOCIATED BANC CORP         COM             045487105          370     8,271  X                                              8,271
ATMEL CORP                   COM             049513104          340    52,343  X                                             52,343
AUTODESK INC                 COM             052769106          663    21,020  X                                             21,020
AUTOLIV INC                  COM             052800109        2,292    55,904  X                                             55,904
AUTOMATIC DATA PROCESSING IN COM             053015103       10,478   249,479  X                                            249,479
AUTONATION INC               COM             05329W102        1,378    80,831  X                                             80,831
AUTOZONE INC                 COM             053332102        3,389    39,417  X                                             39,417
AVALONBAY CMNTYS INC         COM             053484101          206     3,839  X                                              3,839
AVAYA INC                    COM             053499109        3,025   190,514  X                                            190,514
AVERY DENNISON CORP          COM             053611109        3,297    52,997  X                                             52,997
AVID TECHNOLOGY INC          COM             05367P100          586    12,700  X                                             12,700
AVNET INC                    COM             053807103          871    35,568  X                                             35,568
AVOCENT CORP                 COM             053893103          287     7,787  X                                              7,787
AVON PRODS INC               COM             054303102       12,606   166,147  X                                            166,147
AZTAR CORP                   COM             054802103          483    19,700  X                                             19,700
BB&T CORP                    COM             054937107        3,159    89,491  X                                             89,491
BISYS GROUP INC              COM             055472104          399    23,792  X                                             23,792
BJ SVCS CO                   COM             055482103        3,945    91,169  X                                             91,169
BOK FINL CORP                COM NEW         05561Q201        1,380    33,655  X                                             33,655
BP PLC                       SPONSORED ADR   055622104        1,270    24,800  X                                             24,800
BMC SOFTWARE INC             COM             055921100        2,849   145,715  X                                            145,715


                                        2




          ITEM 1:               ITEM 2:       ITEM 3:    ITEM 4:     ITEM 5:        ITEM 6:         ITEM 7:         ITEM 8:
---------------------------- --------------  --------- ------------ --------- -------------------- -------- -----------------------
                                                                                INV. DISCRETION             VOTING AUTHORITY SHARES
                                                                              --------------------          -----------------------
                                                                               (A)   (B)     (C)             (A)  (B)       (C)
                                                                              ---- -------- ------          ---- ------ -----------
                                                       PENSION FAIR SHARES OR       SHARED         MANAGERS
                                               CUSIP   MARKET VALUE PRINCIPAL      AS DEF.  SHARED   SEE
NAME OF ISSUER               TITLE OF CLASS   NUMBER      ($000)      AMOUNT  SOLE INSTR. V OTHER   INSTR.V SOLE SHARED    NONE
---------------------------- --------------  --------- ------------ --------- ---- -------- ------ -------- ---- ------ -----------
                                                                                         
BAKER HUGHES INC             COM             057224107        7,776   213,164  X                                            213,164
BALL CORP                    COM             058498106        3,488    51,454  X                                             51,454
BANK OF AMERICA CORPORATION  COM             060505104       72,607   896,600  X                                            896,600
BANK HAWAII CORP             COM             062540109        3,803    82,076  X                                             82,076
BANK NEW YORK INC            COM             064057102        4,150   131,732  X                                            131,732
BANK ONE CORP                COM             06423A103       18,795   344,731  X                                            344,731
BANKNORTH GROUP INC NEW      COM             06646R107        1,097    32,221  X                                             32,221
BARD C R INC                 COM             067383109        3,675    37,639  X                                             37,639
BARNES & NOBLE INC           COM             067774109          931    28,561  X                                             28,561
BARNES GROUP INC             COM             067806109          549    19,700  X                                             19,700
BARR PHARMACEUTICALS INC     COM             068306109        2,164    47,154  X                                             47,154
BAUSCH & LOMB INC            COM             071707103        1,689    28,169  X                                             28,169
BAXTER INTL INC              COM             071813109        6,970   225,633  X                                            225,633
BEA SYS INC                  COM             073325102        2,396   188,349  X                                            188,349
BEAR STEARNS COS INC         COM             073902108       12,620   143,933  X                                            143,933
BEARINGPOINT INC             COM             074002106          162    15,147  X                                             15,147
BECKMAN COULTER INC          COM             075811109        3,232    59,261  X                                             59,261
BECTON DICKINSON & CO        COM             075887109        5,115   105,515  X                                            105,515
BED BATH & BEYOND INC        COM             075896100        6,171   147,285  X                                            147,285
BELLSOUTH CORP               COM             079860102       19,275   696,095  X                                            696,095
BELO CORP                    COM SER A       080555105          336    12,099  X                                             12,099
BEMIS INC                    COM             081437105          597    22,974  X                                             22,974
BERKLEY W R CORP             COM             084423102        2,461    61,707  X                                             61,707
BERKSHIRE HATHAWAY INC DEL   CL A            084670108        9,143        98  X                                                 98
BEST BUY INC                 COM             086516101        9,277   179,375  X                                            179,375
BIG LOTS INC                 COM             089302103          367    25,296  X                                             25,296
BIO RAD LABS INC             CL A            090572207          204     3,614  X                                              3,614
BIOMET INC                   COM             090613100        2,950    76,898  X                                             76,898
BIOGEN IDEC INC              COM             09062X103        5,365    96,502  X                                             96,502
BLACK & DECKER CORP          COM             091797100        1,400    24,596  X                                             24,596
BLACKROCK INC                CL A            09247X101          743    12,144  X                                             12,144
BLOCK H & R INC              COM             093671105        3,020    59,190  X                                             59,190
BOEING CO                    COM             097023105       11,361   276,627  X                                            276,627
BOISE CASCADE CORP           COM             097383103          390    11,251  X                                             11,251
BORG WARNER INC              COM             099724106        4,016    47,345  X                                             47,345
BOSTON PROPERTIES INC        COM             101121101          223     4,107  X                                              4,107
BOSTON SCIENTIFIC CORP       COM             101137107       26,036   614,349  X                                            614,349
BOWATER INC                  COM             102183100          607    13,907  X                                             13,907
BRINKER INTL INC             COM             109641100        1,493    39,372  X                                             39,372
BRISTOL MYERS SQUIBB CO      COM             110122108       25,043 1,033,539  X                                          1,033,539
BROADCOM CORP                CL A            111320107        2,802    71,817  X                                             71,817
BROCADE COMMUNICATIONS SYS I COM             111621108          257    38,666  X                                             38,666
BROWN & BROWN INC            COM             115236101          891    22,997  X                                             22,997
BROWN FORMAN CORP            CL B            115637209        2,077    43,590  X                                             43,590
BRUNSWICK CORP               COM             117043109          526    12,882  X                                             12,882
BURLINGTON NORTHN SANTA FE C COM             12189T104        6,365   202,051  X                                            202,051
BURLINGTON RES INC           COM             122014103        3,909    61,441  X                                             61,441
CBRL GROUP INC               COM             12489V106          294     7,406  X                                              7,406
C D W CORP                   COM             12512N105        2,735    40,460  X                                             40,460
C H ROBINSON WORLDWIDE INC   COM             12541W100          882    21,257  X                                             21,257
CIGNA CORP                   COM             125509109        1,322    22,401  X                                             22,401
CIT GROUP INC                COM             125581108        5,389   141,624  X                                            141,624
CMS ENERGY CORP              COM             125896100          134    14,933  X                                             14,933
CSX CORP                     COM             126408103        2,159    71,264  X                                             71,264
CVS CORP                     COM             126650100        5,375   152,257  X                                            152,257
CABLEVISION SYS CORP         CL A NY CABLVS  12686C109        1,298    56,716  X                                             56,716
CADENCE DESIGN SYSTEM INC    COM             127387108          387    26,255  X                                             26,255
CAESARS ENTMT INC            COM             127687101          221    16,921  X                                             16,921


                                        3




          ITEM 1:               ITEM 2:       ITEM 3:    ITEM 4:     ITEM 5:        ITEM 6:         ITEM 7:         ITEM 8:
---------------------------- --------------  --------- ------------ --------- -------------------- -------- -----------------------
                                                                                INV. DISCRETION             VOTING AUTHORITY SHARES
                                                                              --------------------          -----------------------
                                                                               (A)   (B)     (C)             (A)  (B)       (C)
                                                                              ---- -------- ------          ---- ------ -----------
                                                       PENSION FAIR SHARES OR       SHARED         MANAGERS
                                               CUSIP   MARKET VALUE PRINCIPAL      AS DEF.  SHARED   SEE
NAME OF ISSUER               TITLE OF CLASS   NUMBER      ($000)      AMOUNT  SOLE INSTR. V OTHER   INSTR.V SOLE SHARED    NONE
---------------------------- --------------  --------- ------------ --------- ---- -------- ------ -------- ---- ------ -----------
                                                                                         
CALPINE CORP                 COM             131347106          576   123,438  X                                            123,438
CAMPBELL SOUP CO             COM             134429109        1,759    64,490  X                                             64,490
CAPITAL ONE FINL CORP        COM             14040H105       11,244   149,069  X                                            149,069
CAPITOL FED FINL             COM             14057C106          251     6,978  X                                              6,978
CARDINAL HEALTH INC          COM             14149Y108       17,766   257,846  X                                            257,846
CAREER EDUCATION CORP        COM             141665109        6,304   111,478  X                                            111,478
CAREMARK RX INC              COM             141705103        7,931   238,540  X                                            238,540
CARLISLE COS INC             COM             142339100          967    17,071  X                                             17,071
CARMAX INC                   COM             143130102        1,290    44,171  X                                             44,171
CARNIVAL CORP                PAIRED CTF      143658300        2,603    57,966  X                                             57,966
CATELLUS DEV CORP NEW        COM             149113102        1,218    46,815  X                                             46,815
CATERPILLAR INC DEL          COM             149123101       15,055   190,401  X                                            190,401
CELGENE CORP                 COM             151020104        2,228    46,760  X                                             46,760
CENDANT CORP                 COM             151313103       17,577   720,680  X                                            720,680
CENTERPOINT ENERGY INC       COM             15189T107          489    42,755  X                                             42,755
CENTEX CORP                  COM             152312104        3,157    58,402  X                                             58,402
CENTURYTEL INC               COM             156700106        2,314    84,188  X                                             84,188
CEPHALON INC                 COM             156708109          612    10,680  X                                             10,680
CERIDIAN CORP NEW            COM             156779100          369    18,745  X                                             18,745
CERTEGY INC                  COM             156880106          400    11,421  X                                             11,421
CHARLES RIV LABS INTL INC    COM             159864107          411     9,599  X                                              9,599
CHARTER ONE FINL INC         COM             160903100        1,169    33,051  X                                             33,051
CHECKFREE CORP NEW           COM             162813109          741    25,146  X                                             25,146
CHEESECAKE FACTORY INC       COM             163072101          465    10,086  X                                             10,086
CHELSEA PPTY GROUP INC       COM             163421100          247     3,922  X                                              3,922
CHESAPEAKE ENERGY CORP       COM             165167107        1,194    89,095  X                                             89,095
CHEVRONTEXACO CORP           COM             166764100       39,404   448,893  X                                            448,893
CHICAGO MERCANTILE HLDGS INC CL A            167760107        2,726    28,182  X                                             28,182
CHICOS FAS INC               COM             168615102        2,876    61,991  X                                             61,991
CHIRON CORP                  COM             170040109        2,930    66,565  X                                             66,565
CHOICEPOINT INC              COM             170388102        1,435    37,733  X                                             37,733
CHUBB CORP                   COM             171232101        7,294   104,887  X                                            104,887
CHURCH & DWIGHT INC          COM             171340102          535    12,363  X                                             12,363
CIENA CORP                   COM             171779101          566   113,929  X                                            113,929
CINCINNATI FINL CORP         COM             172062101        1,122    25,819  X                                             25,819
CINERGY CORP                 COM             172474108        2,611    63,864  X                                             63,864
CIRCUIT CITY STORE INC       COM             172737108          329    29,143  X                                             29,143
CISCO SYS INC                COM             17275R102      107,894 4,577,609  X                                          4,577,609
CINTAS CORP                  COM             172908105        2,893    66,522  X                                             66,522
CITIGROUP INC                COM             172967101      143,503 2,775,689  X                                          2,775,689
CITIZENS COMMUNICATIONS CO   COM             17453B101          538    41,602  X                                             41,602
CITRIX SYS INC               COM             177376100        2,439   112,794  X                                            112,794
CLAIRES STORES INC           COM             179584107        1,367    65,586  X                                             65,586
CLARCOR INC                  COM             179895107        1,611    36,500  X                                             36,500
CLEAR CHANNEL COMMUNICATIONS COM             184502102       12,679   299,380  X                                            299,380
CLOROX CO DEL                COM             189054109        3,873    79,184  X                                             79,184
COACH INC                    COM             189754104       15,072   367,690  X                                            367,690
COCA COLA CO                 COM             191216100       70,183 1,395,292  X                                          1,395,292
COCA COLA ENTERPRISES INC    COM             191219104        2,798   115,773  X                                            115,773
COGNIZANT TECHNOLOGY SOLUTIO CL A            192446102        2,538    56,092  X                                             56,092
COLGATE PALMOLIVE CO         COM             194162103       14,423   261,760  X                                            261,760
COLUMBIA SPORTSWEAR CO       COM             198516106          587    10,601  X                                             10,601
COMCAST CORP NEW             CL A            20030N101       22,084   767,857  X                                            767,857
COMCAST CORP NEW             CL A SPL        20030N200        4,551   163,400  X                                            163,400
COMERICA INC                 COM             200340107        2,630    48,413  X                                             48,413
COMMERCE BANCORP INC NJ      COM             200519106        2,060    31,268  X                                             31,268
COMMERCE BANCSHARES INC      COM             200525103          206     4,324  X                                              4,324
COMMUNITY HEALTH SYS INC NEW COM             203668108          620    22,280  X                                             22,280


                                        4




          ITEM 1:               ITEM 2:       ITEM 3:    ITEM 4:     ITEM 5:        ITEM 6:         ITEM 7:         ITEM 8:
---------------------------- --------------  --------- ------------ --------- -------------------- -------- -----------------------
                                                                                INV. DISCRETION             VOTING AUTHORITY SHARES
                                                                              --------------------          -----------------------
                                                                               (A)   (B)     (C)             (A)  (B)       (C)
                                                                              ---- -------- ------          ---- ------ -----------
                                                       PENSION FAIR SHARES OR       SHARED         MANAGERS
                                               CUSIP   MARKET VALUE PRINCIPAL      AS DEF.  SHARED   SEE
NAME OF ISSUER               TITLE OF CLASS   NUMBER      ($000)      AMOUNT  SOLE INSTR. V OTHER   INSTR.V SOLE SHARED    NONE
---------------------------- --------------  --------- ------------ --------- ---- -------- ------ -------- ---- ------ -----------
                                                                                         
COMPASS BANCSHARES INC       COM             20449H109          610    14,710  X                                             14,710
COMPUTER ASSOC INTL INC      COM             204912109        7,600   282,963  X                                            282,963
COMPUTER SCIENCES CORP       COM             205363104        5,965   147,900  X                                            147,900
COMPUWARE CORP               COM             205638109          438    59,151  X                                             59,151
COMVERSE TECHNOLOGY INC      COM PAR $0.10   205862402        1,035    57,059  X                                             57,059
CONAGRA FOODS INC            COM             205887102        4,954   183,896  X                                            183,896
CONEXANT SYSTEMS INC         COM             207142100           70    11,500  X                                             11,500
CONNECTICUT BANCSHARES INC   COM             207540105          260     5,000  X                                              5,000
CONOCOPHILLIPS               COM             20825C104       36,923   528,907  X                                            528,907
CONSOLIDATED EDISON INC      COM             209115104        2,606    59,084  X                                             59,084
CONSTELLATION BRANDS INC     CL A            21036P108        1,094    34,092  X                                             34,092
CONSTELLATION ENERGY GROUP I COM             210371100        3,004    75,205  X                                             75,205
CONVERGYS CORP               COM             212485106          436    28,714  X                                             28,714
COOPER CAMERON CORP          COM             216640102        1,408    31,972  X                                             31,972
COORS ADOLPH CO              CL B            217016104          739    10,639  X                                             10,639
CORINTHIAN COLLEGES INC      COM             218868107          842    25,512  X                                             25,512
CORNING INC                  COM             219350105        8,697   777,907  X                                            777,907
CORPORATE EXECUTIVE BRD CO   COM             21988R102          375     7,987  X                                              7,987
COSTCO WHSL CORP NEW         COM             22160K105        4,546   120,881  X                                            120,881
COUNTRYWIDE FINANCIAL CORP   COM             222372104       16,675   173,879  X                                            173,879
COVENTRY HEALTH CARE INC     COM             222862104        5,578   131,769  X                                            131,769
COX COMMUNICATIONS INC NEW   CL A            224044107          996    31,521  X                                             31,521
COX RADIO INC                CL A            224051102          338    15,847  X                                             15,847
CRANE CO                     COM             224399105          670    20,304  X                                             20,304
CREE INC                     COM             225447101          344    15,460  X                                             15,460
CROWN CASTLE INTL CORP       COM             228227104          167    13,248  X                                             13,248
CUMMINS INC                  COM             231021106        1,959    33,524  X                                             33,524
CURTISS WRIGHT CORP          COM             231561101          216     4,600  X                                              4,600
CYPRESS SEMICONDUCTOR CORP   COM             232806109          358    17,484  X                                             17,484
CYTEC INDS INC               COM             232820100        1,165    32,751  X                                             32,751
CYTYC CORP                   COM             232946103          877    39,400  X                                             39,400
DPL INC                      COM             233293109        1,350    71,985  X                                             71,985
D R HORTON INC               COM             23331A109          472    13,331  X                                             13,331
DST SYS INC DEL              COM             233326107          892    19,665  X                                             19,665
DTE ENERGY CO                COM             233331107        4,657   113,174  X                                            113,174
DANA CORP                    COM             235811106          431    21,723  X                                             21,723
DANAHER CORP DEL             COM             235851102        6,879    73,676  X                                             73,676
DARDEN RESTAURANTS INC       COM             237194105        1,124    45,334  X                                             45,334
DAVITA INC                   COM             23918K108        2,811    58,872  X                                             58,872
DEAN FOODS CO NEW            COM             242370104        3,059    91,591  X                                             91,591
DEERE & CO                   COM             244199105        6,286    90,692  X                                             90,692
DEL MONTE FOODS CO           COM             24522P103          271    24,086  X                                             24,086
DELL INC                     COM             24702R101       63,946 1,902,022  X                                          1,902,022
DELPHI CORP                  COM             247126105          812    81,572  X                                             81,572
DELTA AIR LINES INC DEL      COM             247361108          136    17,123  X                                             17,123
DELUXE CORP                  COM             248019101        2,346    58,501  X                                             58,501
DENTSPLY INTL INC NEW        COM             249030107        3,940    88,878  X                                             88,878
DEVELOPERS DIVERSIFIED RLTY  COM             251591103        1,675    41,470  X                                             41,470
DEVON ENERGY CORP NEW        COM             25179M103        6,078   104,525  X                                            104,525
DEVRY INC DEL                COM             251893103          367    12,171  X                                             12,171
DIAGNOSTIC PRODS CORP        COM             252450101          662    15,300  X                                             15,300
DIEBOLD INC                  COM             253651103          648    13,472  X                                             13,472
DISNEY WALT CO               COM DISNEY      254687106       30,087 1,203,947  X                                          1,203,947
DOLLAR GEN CORP              COM             256669102        3,909   203,569  X                                            203,569
DOLLAR TREE STORES INC       COM             256747106        1,722    55,786  X                                             55,786
DOMINION RES INC VA NEW      COM             25746U109        6,064    94,309  X                                             94,309
DONALDSON INC                COM             257651109        2,688   101,318  X                                            101,318
DONNELLEY R R & SONS CO      COM             257867101        1,313    43,421  X                                             43,421


                                        5




          ITEM 1:               ITEM 2:       ITEM 3:    ITEM 4:     ITEM 5:        ITEM 6:         ITEM 7:         ITEM 8:
---------------------------- --------------  --------- ------------ --------- -------------------- -------- -----------------------
                                                                                INV. DISCRETION             VOTING AUTHORITY SHARES
                                                                              --------------------          -----------------------
                                                                               (A)   (B)     (C)             (A)  (B)       (C)
                                                                              ---- -------- ------          ---- ------ -----------
                                                       PENSION FAIR SHARES OR       SHARED         MANAGERS
                                               CUSIP   MARKET VALUE PRINCIPAL      AS DEF.  SHARED   SEE
NAME OF ISSUER               TITLE OF CLASS   NUMBER      ($000)      AMOUNT  SOLE INSTR. V OTHER   INSTR.V SOLE SHARED    NONE
---------------------------- --------------  --------- ------------ --------- ---- -------- ------ -------- ---- ------ -----------
                                                                                         
DORAL FINL CORP              COM             25811P100        4,860   138,061  X                                            138,061
DOUBLECLICK INC              COM             258609304          745    66,263  X                                             66,263
DOVER CORP                   COM             260003108        2,992    77,178  X                                             77,178
DOW CHEM CO                  COM             260543103       24,660   612,223  X                                            612,223
DOW JONES & CO INC           COM             260561105          762    15,900  X                                             15,900
DU PONT E I DE NEMOURS & CO  COM             263534109       17,048   403,795  X                                            403,795
DUKE ENERGY CORP             COM             264399106        7,963   352,355  X                                            352,355
DUKE REALTY CORP             COM NEW         264411505          309     8,905  X                                              8,905
DUN & BRADSTREET CORP DEL NE COM             26483E100        1,906    35,623  X                                             35,623
DYNEGY INC NEW               CL A            26816Q101          194    48,986  X                                             48,986
E M C CORP MASS              COM             268648102       17,626 1,295,113  X                                          1,295,113
ENSCO INTL INC               COM             26874Q100          768    27,265  X                                             27,265
EOG RES INC                  COM             26875P101        3,421    74,539  X                                             74,539
E TRADE FINANCIAL CORP       COM             269246104        2,406   180,260  X                                            180,260
EASTMAN CHEM CO              COM             277432100        3,167    74,207  X                                             74,207
EASTMAN KODAK CO             COM             277461109        2,507    95,780  X                                             95,780
EATON CORP                   COM             278058102        5,039    89,680  X                                             89,680
EATON VANCE CORP             COM NON VTG     278265103        1,258    33,014  X                                             33,014
EBAY INC                     COM             278642103       28,240   407,616  X                                            407,616
ECHOSTAR COMMUNICATIONS NEW  CL A            278762109        4,387   133,962  X                                            133,962
ECOLAB INC                   COM             278865100        3,545   124,252  X                                            124,252
EDISON INTL                  COM             281020107        4,061   167,172  X                                            167,172
EDUCATION MGMT CORP          COM             28139T101        1,672    52,536  X                                             52,536
EDWARDS LIFESCIENCES CORP    COM             28176E108          538    16,853  X                                             16,853
EDWARDS AG INC               COM             281760108          454    11,606  X                                             11,606
EL PASO CORP                 COM             28336L109        1,248   175,594  X                                            175,594
ELECTRONIC ARTS INC          COM             285512109       10,219   190,148  X                                            190,148
ELECTRONIC DATA SYS NEW      COM             285661104        2,748   142,019  X                                            142,019
EMERSON ELEC CO              COM             291011104        9,815   163,799  X                                            163,799
EMULEX CORP                  COM NEW         292475209          295    13,857  X                                             13,857
ENCANA CORP                  COM             292505104        1,337    31,000  X                                             31,000
ENERGEN CORP                 COM             29265N108          445    10,800  X                                             10,800
ENERGY EAST CORP             COM             29266M109        1,030    40,616  X                                             40,616
ENERGIZER HLDGS INC          COM             29266R108        1,761    37,721  X                                             37,721
ENGELHARD CORP               COM             292845104        1,353    45,273  X                                             45,273
ENGINEERED SUPPORT SYS INC   COM             292866100        1,330    27,250  X                                             27,250
ENTERCOM COMMUNICATIONS CORP CL A            293639100          728    16,083  X                                             16,083
ENTERGY CORP NEW             COM             29364G103       11,054   185,789  X                                            185,789
EQUIFAX INC                  COM             294429105        1,068    41,355  X                                             41,355
EQUITABLE RES INC            COM             294549100          915    20,594  X                                             20,594
EQUITY OFFICE PROPERTIES TRU COM             294741103        5,236   181,236  X                                            181,236
EQUITY RESIDENTIAL           SH BEN INT      29476L107        1,356    45,443  X                                             45,443
EVERGREEN RES INC            COM NO PAR      299900308          234     6,800  X                                              6,800
EXELON CORP                  COM             30161N101        7,092   102,976  X                                            102,976
EXPEDITORS INTL WASH INC     COM             302130109        1,632    41,454  X                                             41,454
EXPRESS SCRIPTS INC          COM             302182100        3,183    42,691  X                                             42,691
EXXON MOBIL CORP             COM             30231G102      130,473 3,137,116  X                                          3,137,116
FMC TECHNOLOGIES INC         COM             30249U101        1,527    56,493  X                                             56,493
FPL GROUP INC                COM             302571104        3,665    54,817  X                                             54,817
FACTSET RESH SYS INC         COM             303075105        1,549    36,394  X                                             36,394
FAIR ISAAC CORP              COM             303250104        3,092    85,707  X                                             85,707
FAIRCHILD SEMICONDUCTOR INTL COM             303726103          367    15,273  X                                             15,273
FAMILY DLR STORES INC        COM             307000109        3,519    97,897  X                                             97,897
FASTENAL CO                  COM             311900104        1,079    20,091  X                                             20,091
FEDERAL HOME LN MTG CORP     COM             313400301       17,927   303,541  X                                            303,541
FEDERAL NATL MTG ASSN        COM             313586109       45,408   610,728  X                                            610,728
FEDERATED DEPT STORES INC DE COM             31410H101        8,676   160,514  X                                            160,514
FEDERATED INVS INC PA        CL B            314211103        1,004    31,951  X                                             31,951


                                        6




          ITEM 1:               ITEM 2:       ITEM 3:    ITEM 4:     ITEM 5:        ITEM 6:         ITEM 7:         ITEM 8:
---------------------------- --------------  --------- ------------ --------- -------------------- -------- -----------------------
                                                                                INV. DISCRETION             VOTING AUTHORITY SHARES
                                                                              --------------------          -----------------------
                                                                               (A)   (B)     (C)             (A)  (B)       (C)
                                                                              ---- -------- ------          ---- ------ -----------
                                                       PENSION FAIR SHARES OR       SHARED         MANAGERS
                                               CUSIP   MARKET VALUE PRINCIPAL      AS DEF.  SHARED   SEE
NAME OF ISSUER               TITLE OF CLASS   NUMBER      ($000)      AMOUNT  SOLE INSTR. V OTHER   INSTR.V SOLE SHARED    NONE
---------------------------- --------------  --------- ------------ --------- ---- -------- ------ -------- ---- ------ -----------
                                                                                         
FEDEX CORP                   COM             31428X106        9,206   122,479  X                                            122,479
FIDELITY NATL FINL INC       COM             316326107          982    24,786  X                                             24,786
FIFTH THIRD BANCORP          COM             316773100       11,439   206,585  X                                            206,585
FIRST AMERN CORP CALIF       COM             318522307          510    16,767  X                                             16,767
FIRST BANCORP P R            COM             318672102          802    19,288  X                                             19,288
FIRST DATA CORP              COM             319963104       20,649   489,788  X                                            489,788
FIRST HEALTH GROUP CORP      COM             320960107          528    24,175  X                                             24,175
FIRST TENN NATL CORP         COM             337162101        3,305    69,278  X                                             69,278
FISERV INC                   COM             337738108        3,852   107,687  X                                            107,687
FIRSTFED FINL CORP           COM             337907109          706    15,300  X                                             15,300
FIRSTFED AMER BANCORP INC    COM             337929103        1,564    56,130  X                                             56,130
FLAGSTAR BANCORP INC         COM             337930101          575    22,400  X                                             22,400
FIRSTENERGY CORP             COM             337932107        6,388   163,456  X                                            163,456
FISHER SCIENTIFIC INTL INC   COM NEW         338032204          539     9,794  X                                              9,794
FLEETBOSTON FINL CORP        COM             339030108       23,858   531,352  X                                            531,352
FLORIDA ROCK INDS INC        COM             341140101        1,636    38,825  X                                             38,825
FLUOR CORP NEW               COM             343412102        1,484    38,344  X                                             38,344
FLOWERS FOODS INC            COM             343498101          787    30,000  X                                             30,000
FLOWSERVE CORP               COM             34354P105          409    19,514  X                                             19,514
FOOT LOCKER INC              COM             344849104          985    38,190  X                                             38,190
FORD MTR CO DEL              COM PAR $0.01   345370860        7,829   576,938  X                                            576,938
FOREST LABS INC              COM             345838106       18,310   255,660  X                                            255,660
FORTUNE BRANDS INC           COM             349631101        5,283    68,939  X                                             68,939
FOUNDRY NETWORKS INC         COM             35063R100        1,386    80,719  X                                             80,719
FOX ENTMT GROUP INC          CL A            35138T107        3,848   141,997  X                                            141,997
FRANKLIN RES INC             COM             354613101        1,813    32,554  X                                             32,554
FREEPORT-MCMORAN COPPER & GO CL B            35671D857        4,269   109,213  X                                            109,213
FREMONT GEN CORP             COM             357288109          444    14,500  X                                             14,500
FRIEDMAN BILLINGS RAMSEY GRO CL A            358434108        1,762    65,291  X                                             65,291
FURNITURE BRANDS INTL INC    COM             360921100          414    12,871  X                                             12,871
GALLAGHER ARTHUR J & CO      COM             363576109          996    30,572  X                                             30,572
GALLAHER GROUP PLC           SPONSORED ADR   363595109          538    11,200  X                                             11,200
GANNETT INC                  COM             364730101       12,221   138,655  X                                            138,655
GAP INC DEL                  COM             364760108        8,731   398,331  X                                            398,331
GATEWAY INC                  COM             367626108          149    28,190  X                                             28,190
GEMSTAR-TV GUIDE INTL INC    COM             36866W106          100    14,935  X                                             14,935
GENENTECH INC                COM NEW         368710406        6,928    65,466  X                                             65,466
GENERAL DYNAMICS CORP        COM             369550108        6,191    69,304  X                                             69,304
GENERAL ELEC CO              COM             369604103      186,171 6,099,964  X                                          6,099,964
GENERAL GROWTH PPTYS INC     COM             370021107        7,260   206,554  X                                            206,554
GENERAL MLS INC              COM             370334104        7,365   157,772  X                                            157,772
GENERAL MTRS CORP            COM             370442105       18,701   397,052  X                                            397,052
GENTEX CORP                  COM             371901109        2,220    51,180  X                                             51,180
GENUINE PARTS CO             COM             372460105        2,039    62,317  X                                             62,317
GENZYME CORP                 COM GENL DIV    372917104        4,644    99,270  X                                             99,270
GEORGIA PAC CORP             COM             373298108        5,511   163,585  X                                            163,585
GETTY IMAGES INC             COM             374276103        1,592    29,488  X                                             29,488
GILEAD SCIENCES INC          COM             375558103        7,964   143,620  X                                            143,620
GILLETTE CO                  COM             375766102       12,274   313,905  X                                            313,905
GLOBAL PMTS INC              COM             37940X102          259     5,744  X                                              5,744
GOLDEN WEST FINL CORP DEL    COM             381317106        9,776    87,327  X                                             87,327
GOLDMAN SACHS GROUP INC      COM             38141G104       20,836   199,676  X                                            199,676
GOODRICH CORP                COM             382388106        1,496    53,287  X                                             53,287
GOODYEAR TIRE & RUBR CO      COM             382550101          130    15,250  X                                             15,250
GRACO INC                    COM             384109104        1,375    47,219  X                                             47,219
GRAINGER W W INC             COM             384802104        1,411    29,388  X                                             29,388
GRANT PRIDECO INC            COM             38821G101          585    37,745  X                                             37,745
GREAT LAKES CHEM CORP        COM             390568103          932    39,098  X                                             39,098


                                        7




          ITEM 1:               ITEM 2:       ITEM 3:    ITEM 4:     ITEM 5:        ITEM 6:         ITEM 7:         ITEM 8:
---------------------------- --------------  --------- ------------ --------- -------------------- -------- -----------------------
                                                                                INV. DISCRETION             VOTING AUTHORITY SHARES
                                                                              --------------------          -----------------------
                                                                               (A)   (B)     (C)             (A)  (B)       (C)
                                                                              ---- -------- ------          ---- ------ -----------
                                                       PENSION FAIR SHARES OR       SHARED         MANAGERS
                                               CUSIP   MARKET VALUE PRINCIPAL      AS DEF.  SHARED   SEE
NAME OF ISSUER               TITLE OF CLASS   NUMBER      ($000)      AMOUNT  SOLE INSTR. V OTHER   INSTR.V SOLE SHARED    NONE
---------------------------- --------------  --------- ------------ --------- ---- -------- ------ -------- ---- ------ -----------
                                                                                         
GREAT PLAINS ENERGY INC      COM             391164100        3,467   102,595  X                                            102,595
GREENPOINT FINL CORP         COM             395384100          593    13,571  X                                             13,571
GREIF INC                    CL A            397624107          449    12,860  X                                             12,860
GTECH HLDGS CORP             COM             400518106        2,127    35,972  X                                             35,972
GUIDANT CORP                 COM             401698105       15,794   249,232  X                                            249,232
HCA INC                      COM             404119109        7,352   180,988  X                                            180,988
HCC INS HLDGS INC            COM             404132102          563    17,421  X                                             17,421
HRPT PPTYS TR                COM SH BEN INT  40426W101          118    10,412  X                                             10,412
HSBC HLDGS PLC               SPON ADR NEW    404280406          201     2,685  X                                              2,685
HALLIBURTON CO               COM             406216101       10,185   335,153  X                                            335,153
HANCOCK JOHN FINL SVCS INC   COM             41014S106        3,471    79,452  X                                             79,452
HARLEY DAVIDSON INC          COM             412822108        8,993   168,602  X                                            168,602
HARMAN INTL INDS INC         COM             413086109        7,137    89,666  X                                             89,666
HARRAHS ENTMT INC            COM             413619107        2,156    39,286  X                                             39,286
HARRIS CORP DEL              COM             413875105          352     7,263  X                                              7,263
HARSCO CORP                  COM             415864107          772    16,977  X                                             16,977
HARTE-HANKS INC              COM             416196103          371    15,854  X                                             15,854
HARTFORD FINL SVCS GROUP INC COM             416515104        7,816   122,697  X                                            122,697
HASBRO INC                   COM             418056107        2,063    94,866  X                                             94,866
HAWAIIAN ELEC INDUSTRIES     COM             419870100          465     8,967  X                                              8,967
HEALTH CARE PPTY INVS INC    COM             421915109          216     7,626  X                                              7,626
HEALTH MGMT ASSOC INC NEW    CL A            421933102        2,223    95,764  X                                             95,764
HEALTH NET INC               COM             42222G108        1,483    59,504  X                                             59,504
HEINZ H J CO                 COM             423074103        4,282   114,820  X                                            114,820
HELMERICH & PAYNE INC        COM             423452101        1,331    46,455  X                                             46,455
HENRY JACK & ASSOC INC       COM             426281101          269    14,080  X                                             14,080
HERCULES INC                 COM             427056106          364    31,686  X                                             31,686
HERSHEY FOODS CORP           COM             427866108        2,183    26,354  X                                             26,354
HEWLETT PACKARD CO           COM             428236103       37,095 1,624,110  X                                          1,624,110
HIBERNIA CORP                CL A            428656102        1,202    51,187  X                                             51,187
HILLENBRAND INDS INC         COM             431573104        1,635    24,090  X                                             24,090
HILTON HOTELS CORP           COM             432848109        1,344    82,728  X                                             82,728
HOLLY CORP                   COM PAR $0.01   435758305          479    15,040  X                                             15,040
HOLLYWOOD ENTMT CORP         COM             436141105          148    10,900  X                                             10,900
HOME DEPOT INC               COM             437076102       53,332 1,427,525  X                                          1,427,525
HON INDS INC                 COM             438092108        1,722    46,342  X                                             46,342
HONEYWELL INTL INC           COM             438516106        8,864   261,859  X                                            261,859
HORMEL FOODS CORP            COM             440452100          416    14,199  X                                             14,199
HOST MARRIOTT CORP NEW       COM             44107P104          212    16,551  X                                             16,551
HUBBELL INC                  CL B            443510201          540    13,449  X                                             13,449
HUDSON CITY BANCORP          COM             443683107        3,072    81,543  X                                             81,543
HUDSON UNITED BANCORP        COM             444165104        2,636    69,275  X                                             69,275
HUMANA INC                   COM             444859102        1,413    74,317  X                                             74,317
HUMAN GENOME SCIENCES INC    COM             444903108          219    17,498  X                                             17,498
HUNTINGTON BANCSHARES INC    COM             446150104          739    33,526  X                                             33,526
ICOS CORP                    COM             449295104          237     6,416  X                                              6,416
IMS HEALTH INC               COM             449934108        2,789   119,896  X                                            119,896
ISTAR FINL INC               COM             45031U101          248     5,869  X                                              5,869
ITT EDUCATIONAL SERVICES INC COM             45068B109          833    26,708  X                                             26,708
ITT INDS INC IND             COM             450911102        7,197    94,286  X                                             94,286
IDEXX LABS INC               COM             45168D104          378     6,643  X                                              6,643
IKON OFFICE SOLUTIONS INC    COM             451713101          225    17,573  X                                             17,573
ILLINOIS TOOL WKS INC        COM             452308109        7,541    95,180  X                                             95,180
IMCLONE SYS INC              COM             45245W109          551    10,866  X                                             10,866
INAMED CORP                  COM             453235103          895    16,800  X                                             16,800
INDEPENDENCE CMNTY BK CORP   COM             453414104          309     7,571  X                                              7,571
INGRAM MICRO INC             CL A            457153104          941    51,975  X                                             51,975
INTEGRATED CIRCUIT SYS INC   COM             45811K208        1,502    60,005  X                                             60,005


                                        8




          ITEM 1:               ITEM 2:       ITEM 3:    ITEM 4:     ITEM 5:        ITEM 6:         ITEM 7:         ITEM 8:
---------------------------- --------------  --------- ------------ --------- -------------------- -------- -----------------------
                                                                                INV. DISCRETION             VOTING AUTHORITY SHARES
                                                                              --------------------          -----------------------
                                                                               (A)   (B)     (C)             (A)  (B)       (C)
                                                                              ---- -------- ------          ---- ------ -----------
                                                       PENSION FAIR SHARES OR       SHARED         MANAGERS
                                               CUSIP   MARKET VALUE PRINCIPAL      AS DEF.  SHARED   SEE
NAME OF ISSUER               TITLE OF CLASS   NUMBER      ($000)      AMOUNT  SOLE INSTR. V OTHER   INSTR.V SOLE SHARED    NONE
---------------------------- --------------  --------- ------------ --------- ---- -------- ------ -------- ---- ------ -----------
                                                                                         
INTEGRATED DEVICE TECHNOLOGY COM             458118106          187    12,477  X                                             12,477
INTEL CORP                   COM             458140100      125,655 4,619,651  X                                          4,619,651
INTER TEL INC                COM             458372109          497    16,500  X                                             16,500
INTERACTIVE DATA CORP        COM             45840J107          203    11,409  X                                             11,409
INTERACTIVECORP              COM             45840Q101        4,707   148,811  X                                            148,811
INTERDIGITAL COMMUNICATIONS  COM             45866A105          205    11,745  X                                             11,745
INTERNATIONAL BUSINESS MACHS COM             459200101       89,485   974,354  X                                            974,354
INTERNATIONAL FLAVORS&FRAGRA COM             459506101          726    20,438  X                                             20,438
INTERNATIONAL GAME TECHNOLOG COM             459902102       14,809   329,372  X                                            329,372
INTL PAPER CO                COM             460146103       10,559   249,852  X                                            249,852
INTERNATIONAL RECTIFIER CORP COM             460254105        1,186    25,792  X                                             25,792
INTERNATIONAL SPEEDWAY CORP  CL A            460335201          267     5,689  X                                              5,689
INTERSIL CORP                CL A            46069S109          384    17,237  X                                             17,237
INTERPUBLIC GROUP COS INC    COM             460690100          958    62,305  X                                             62,305
INTUIT                       COM             461202103        4,543   101,799  X                                            101,799
INVITROGEN CORP              COM             46185R100        2,558    35,678  X                                             35,678
INVESTORS FINL SERVICES CORP COM             461915100          569    13,781  X                                             13,781
IOMEGA CORP                  COM NEW         462030305           94    16,800  X                                             16,800
IRON MTN INC PA              COM             462846106          720    16,122  X                                             16,122
ISHARES TR                   RUSSELL 1000VAL 464287598        5,011    83,640  X                                             83,640
ISHARES TR                   RUSSELL 1000GRW 464287614        1,318    27,980  X                                             27,980
IVAX CORP                    COM             465823102          702    30,825  X                                             30,825
JDS UNIPHASE CORP            COM             46612J101        1,996   490,514  X                                            490,514
J P MORGAN CHASE & CO        COM             46625H100       36,944   880,667  X                                            880,667
JABIL CIRCUIT INC            COM             466313103        1,810    61,489  X                                             61,489
JACOBS ENGR GROUP INC DEL    COM             469814107        2,103    47,162  X                                             47,162
JANUS CAP GROUP INC          COM             47102X105          575    35,077  X                                             35,077
JEFFERSON PILOT CORP         COM             475070108        3,693    67,142  X                                             67,142
JETBLUE AWYS CORP            COM             477143101        1,486    58,855  X                                             58,855
JOHNSON & JOHNSON            COM             478160104      100,214 1,975,838  X                                          1,975,838
JOHNSON CTLS INC             COM             478366107       12,358   208,928  X                                            208,928
JONES APPAREL GROUP INC      COM             480074103        5,622   155,514  X                                            155,514
JUNIPER NETWORKS INC         COM             48203R104        3,091   118,797  X                                            118,797
KLA-TENCOR CORP              COM             482480100        2,859    56,864  X                                             56,864
KB HOME                      COM             48666K109        2,071    25,635  X                                             25,635
KEANE INC                    COM             486665102          648    41,200  X                                             41,200
KELLOGG CO                   COM             487836108        3,632    92,566  X                                             92,566
KERR MCGEE CORP              COM             492386107          759    14,742  X                                             14,742
KEY ENERGY SVCS INC          COM             492914106          659    59,871  X                                             59,871
KEYCORP NEW                  COM             493267108        7,213   238,127  X                                            238,127
KEYSPAN CORP                 COM             49337W100        1,013    26,495  X                                             26,495
KIMBERLY CLARK CORP          COM             494368103        7,324   116,068  X                                            116,068
KIMCO REALTY CORP            COM             49446R109        4,234    83,056  X                                             83,056
KINDER MORGAN INC KANS       COM             49455P101        4,032    63,973  X                                             63,973
KING PHARMACEUTICALS INC     COM             495582108          764    45,368  X                                             45,368
KNIGHT RIDDER INC            COM             499040103        4,394    59,987  X                                             59,987
KNIGHT TRADING GROUP INC     COM             499063105          582    46,010  X                                             46,010
KOHLS CORP                   COM             500255104        7,094   146,784  X                                            146,784
KRAFT FOODS INC              CL A            50075N104        2,455    76,693  X                                             76,693
KRISPY KREME DOUGHNUTS INC   COM             501014104          437    12,715  X                                             12,715
KROGER CO                    COM             501044101        4,325   259,914  X                                            259,914
LSI LOGIC CORP               COM             502161102          692    74,130  X                                             74,130
L-3 COMMUNICATIONS HLDGS INC COM             502424104        3,825    64,314  X                                             64,314
LA QUINTA CORP               PAIRED CTF      50419U202          287    38,000  X                                             38,000
LABORATORY CORP AMER HLDGS   COM NEW         50540R409        1,162    29,603  X                                             29,603
LABRANCHE & CO INC           COM             505447102          112    10,001  X                                             10,001
LAM RESEARCH CORP            COM             512807108        1,530    60,927  X                                             60,927
LAMAR ADVERTISING CO         CL A            512815101          535    13,256  X                                             13,256


                                        9




          ITEM 1:               ITEM 2:       ITEM 3:    ITEM 4:     ITEM 5:        ITEM 6:         ITEM 7:         ITEM 8:
---------------------------- --------------  --------- ------------ --------- -------------------- -------- -----------------------
                                                                                INV. DISCRETION             VOTING AUTHORITY SHARES
                                                                              --------------------          -----------------------
                                                                               (A)   (B)     (C)             (A)  (B)       (C)
                                                                              ---- -------- ------          ---- ------ -----------
                                                       PENSION FAIR SHARES OR       SHARED         MANAGERS
                                               CUSIP   MARKET VALUE PRINCIPAL      AS DEF.  SHARED   SEE
NAME OF ISSUER               TITLE OF CLASS   NUMBER      ($000)      AMOUNT  SOLE INSTR. V OTHER   INSTR.V SOLE SHARED    NONE
---------------------------- --------------  --------- ------------ --------- ---- -------- ------ -------- ---- ------ -----------
                                                                                         
LANCASTER COLONY CORP        COM             513847103          653    16,159  X                                             16,159
LANDAMERICA FINL GROUP INC   COM             514936103          466    10,300  X                                             10,300
LAUDER ESTEE COS INC         CL A            518439104          916    20,663  X                                             20,663
LEAR CORP                    COM             521865105        2,782    44,905  X                                             44,905
LEGGETT & PLATT INC          COM             524660107          929    39,182  X                                             39,182
LEGG MASON INC               COM             524901105        6,375    68,709  X                                             68,709
LEHMAN BROS HLDGS INC        COM             524908100       12,967   156,471  X                                            156,471
LENNAR CORP                  CL A            526057104        1,491    27,590  X                                             27,590
LEUCADIA NATL CORP           COM             527288104          286     5,365  X                                              5,365
LEVEL 3 COMMUNICATIONS INC   COM             52729N100          143    35,867  X                                             35,867
LEXAR MEDIA INC              COM             52886P104          517    31,200  X                                             31,200
LEXMARK INTL NEW             CL A            529771107        9,401   102,190  X                                            102,190
LIBERTY CORP S C             COM             530370105          618    13,360  X                                             13,360
LIBERTY MEDIA CORP NEW       COM SER A       530718105       10,048   917,637  X                                            917,637
LIBERTY PPTY TR              SH BEN INT      531172104          209     4,637  X                                              4,637
LILLY ELI & CO               COM             532457108       42,955   642,072  X                                            642,072
LIMITED BRANDS INC           COM             532716107        1,434    71,720  X                                             71,720
LINCARE HLDGS INC            COM             532791100          730    23,254  X                                             23,254
LINCOLN NATL CORP IND        COM             534187109        1,276    26,969  X                                             26,969
LINEAR TECHNOLOGY CORP       COM             535678106        7,048   190,020  X                                            190,020
LIZ CLAIBORNE INC            COM             539320101        1,065    29,027  X                                             29,027
LOCKHEED MARTIN CORP         COM             539830109        5,512   120,777  X                                            120,777
LOEWS CORP                   COM             540424108        4,809    81,432  X                                             81,432
LOUISIANA PAC CORP           COM             546347105          929    36,000  X                                             36,000
LOWES COS INC                COM             548661107       29,429   524,308  X                                            524,308
LUCENT TECHNOLOGIES INC      COM             549463107        7,160 1,742,109  X                                          1,742,109
LYONDELL CHEMICAL CO         COM             552078107          996    67,103  X                                             67,103
M & T BK CORP                COM             55261F104        4,748    52,841  X                                             52,841
MBIA INC                     COM             55262C100        2,879    45,923  X                                             45,923
MBNA CORP                    COM             55262L100       15,677   567,403  X                                            567,403
M D C HLDGS INC              COM             552676108        1,219    17,316  X                                             17,316
MDU RES GROUP INC            COM             552690109          333    14,189  X                                             14,189
MGIC INVT CORP WIS           COM             552848103        3,497    54,439  X                                             54,439
MGI PHARMA INC               COM             552880106        1,893    30,900  X                                             30,900
MGM MIRAGE                   COM             552953101          312     6,890  X                                              6,890
MACROVISION CORP             COM             555904101          359    19,000  X                                             19,000
MACROMEDIA INC               COM             556100105          264    13,138  X                                             13,138
MANDALAY RESORT GROUP        COM             562567107        1,650    28,815  X                                             28,815
MANOR CARE INC NEW           COM             564055101        2,001    56,694  X                                             56,694
MANPOWER INC                 COM             56418H100          721    15,507  X                                             15,507
MARATHON OIL CORP            COM             565849106        8,135   241,613  X                                            241,613
MARKEL CORP                  COM             570535104        2,259     7,846  X                                              7,846
MARSH & MCLENNAN COS INC     COM             571748102       10,663   230,305  X                                            230,305
MARSHALL & ILSLEY CORP       COM             571834100        1,277    33,786  X                                             33,786
MARRIOTT INTL INC NEW        CL A            571903202        2,412    56,681  X                                             56,681
MARVEL ENTERPRISES INC       COM             57383M108          197    10,262  X                                             10,262
MASCO CORP                   COM             574599106        2,939    96,548  X                                             96,548
MASSEY ENERGY CORP           COM             576206106          364    16,500  X                                             16,500
MATTEL INC                   COM             577081102        5,782   313,579  X                                            313,579
MAXIM INTEGRATED PRODS INC   COM             57772K101       11,540   245,691  X                                            245,691
MAXTOR CORP                  COM NEW         577729205          578    70,950  X                                             70,950
MAY DEPT STORES CO           COM             577778103        2,319    67,060  X                                             67,060
MAYTAG CORP                  COM             578592107          737    23,334  X                                             23,334
MCCLATCHY CO                 CL A            579489105          872    12,278  X                                             12,278
MCCORMICK & CO INC           COM NON VTG     579780206        1,746    52,095  X                                             52,095
MCDATA CORP                  CL A            580031201          153    21,794  X                                             21,794
MCDONALDS CORP               COM             580135101       18,650   652,784  X                                            652,784
MCGRAW HILL COS INC          COM             580645109        7,560    99,294  X                                             99,294


                                       10




          ITEM 1:               ITEM 2:       ITEM 3:    ITEM 4:     ITEM 5:        ITEM 6:         ITEM 7:         ITEM 8:
---------------------------- --------------  --------- ------------ --------- -------------------- -------- -----------------------
                                                                                INV. DISCRETION             VOTING AUTHORITY SHARES
                                                                              --------------------          -----------------------
                                                                               (A)   (B)     (C)             (A)  (B)       (C)
                                                                              ---- -------- ------          ---- ------ -----------
                                                       PENSION FAIR SHARES OR       SHARED         MANAGERS
                                               CUSIP   MARKET VALUE PRINCIPAL      AS DEF.  SHARED   SEE
NAME OF ISSUER               TITLE OF CLASS   NUMBER      ($000)      AMOUNT  SOLE INSTR. V OTHER   INSTR.V SOLE SHARED    NONE
---------------------------- --------------  --------- ------------ --------- ---- -------- ------ -------- ---- ------ -----------
                                                                                         
MCKESSON CORP                COM             58155Q103        2,014    66,936  X                                             66,936
MEADWESTVACO CORP            COM             583334107        2,881   101,833  X                                            101,833
MEDCO HEALTH SOLUTIONS INC   COM             58405U102        5,531   162,688  X                                            162,688
MEDIA GEN INC                CL A            584404107          208     3,088  X                                              3,088
MEDICIS PHARMACEUTICAL CORP  CL A NEW        584690309        2,851    71,280  X                                             71,280
MEDIMMUNE INC                COM             584699102        3,192   138,281  X                                            138,281
MEDTRONIC INC                COM             585055106       30,001   628,291  X                                            628,291
MELLON FINL CORP             COM             58551A108        4,478   143,112  X                                            143,112
MERCANTILE BANKSHARES CORP   COM             587405101          252     5,879  X                                              5,879
MERCK & CO INC               COM             589331107       57,061 1,291,257  X                                          1,291,257
MERCURY INTERACTIVE CORP     COM             589405109        1,919    42,830  X                                             42,830
MEREDITH CORP                COM             589433101          486     9,606  X                                              9,606
MERRILL LYNCH & CO INC       COM             590188108       28,697   481,825  X                                            481,825
METLIFE INC                  COM             59156R108        6,560   183,852  X                                            183,852
METTLER TOLEDO INTERNATIONAL COM             592688105          330     7,431  X                                              7,431
MICHAELS STORES INC          COM             594087108          595    12,238  X                                             12,238
MICROSOFT CORP               COM             594918104      154,649 6,203,321  X                                          6,203,321
MICROCHIP TECHNOLOGY INC     COM             595017104        1,788    67,695  X                                             67,695
MICRON TECHNOLOGY INC        COM             595112103        2,060   123,280  X                                            123,280
MILLENNIUM PHARMACEUTICALS I COM             599902103          624    36,929  X                                             36,929
MILLER HERMAN INC            COM             600544100          408    15,340  X                                             15,340
MILLIPORE CORP               COM             601073109          714    13,892  X                                             13,892
MILLS CORP                   COM             601148109          205     3,850  X                                              3,850
MOHAWK INDS INC              COM             608190104        2,539    30,837  X                                             30,837
MOLEX INC                    COM             608554101        1,264    41,584  X                                             41,584
MONSANTO CO NEW              COM             61166W101        7,048   192,189  X                                            192,189
MONSTER WORLDWIDE INC        COM             611742107          797    30,431  X                                             30,431
MOODYS CORP                  COM             615369105        4,578    64,661  X                                             64,661
MOOG INC                     CL A            615394202          814    23,850  X                                             23,850
MORGAN STANLEY               COM NEW         617446448       25,533   445,606  X                                            445,606
MOTOROLA INC                 COM             620076109       17,160   975,019  X                                            975,019
MURPHY OIL CORP              COM             626717102        4,094    65,018  X                                             65,018
MYLAN LABS INC               COM             628530107        6,044   265,898  X                                            265,898
NCR CORP NEW                 COM             62886E108          588    13,347  X                                             13,347
NTL INC DEL                  COM             62940M104          266     4,468  X                                              4,468
NVR INC                      COM             62944T105          532     1,157  X                                              1,157
NATIONAL CITY CORP           COM             635405103       15,771   443,267  X                                            443,267
NATIONAL COMMERCE FINL CORP  COM             63545P104          349    12,206  X                                             12,206
NATIONAL FUEL GAS CO N J     COM             636180101          809    32,886  X                                             32,886
NATIONAL HEALTH INVS INC     COM             63633D104        1,784    57,930  X                                             57,930
NATIONAL INSTRS CORP         COM             636518102          312     9,915  X                                              9,915
NATIONAL-OILWELL INC         COM             637071101          341    12,062  X                                             12,062
NATIONAL SEMICONDUCTOR CORP  COM             637640103        2,237    50,353  X                                             50,353
NAVISTAR INTL CORP NEW       COM             63934E108        1,430    31,179  X                                             31,179
NEIMAN MARCUS GROUP INC      CL A            640204202        2,194    40,674  X                                             40,674
NETWORKS ASSOCS INC          COM             640938106          706    39,249  X                                             39,249
NETSCREEN TECHNOLOGIES INC   COM             64117V107          478    13,126  X                                             13,126
NETWORK APPLIANCE INC        COM             64120L104        4,953   230,038  X                                            230,038
NEUROCRINE BIOSCIENCES INC   COM             64125C109          238     4,025  X                                              4,025
NEW CENTURY FINANCIAL CORP   COM             64352D101          541    11,150  X                                             11,150
NEW YORK CMNTY BANCORP INC   COM             649445103        1,789    52,195  X                                             52,195
NEW YORK TIMES CO            CL A            650111107        1,575    35,624  X                                             35,624
NEWELL RUBBERMAID INC        COM             651229106        1,756    75,693  X                                             75,693
NEWFIELD EXPL CO             COM             651290108          286     5,974  X                                              5,974
NEWMONT MINING CORP          COM             651639106        9,234   198,026  X                                            198,026
NEWS CORP LTD                SP ADR PFD      652487802          285     9,003  X                                              9,003
NEXTEL COMMUNICATIONS INC    CL A            65332V103       11,752   476,543  X                                            476,543
NEXTEL PARTNERS INC          CL A            65333F107          421    33,282  X                                             33,282


                                       11




          ITEM 1:               ITEM 2:       ITEM 3:    ITEM 4:     ITEM 5:        ITEM 6:         ITEM 7:         ITEM 8:
---------------------------- --------------  --------- ------------ --------- -------------------- -------- -----------------------
                                                                                INV. DISCRETION             VOTING AUTHORITY SHARES
                                                                              --------------------          -----------------------
                                                                               (A)   (B)     (C)             (A)  (B)       (C)
                                                                              ---- -------- ------          ---- ------ -----------
                                                       PENSION FAIR SHARES OR       SHARED         MANAGERS
                                               CUSIP   MARKET VALUE PRINCIPAL      AS DEF.  SHARED   SEE
NAME OF ISSUER               TITLE OF CLASS   NUMBER      ($000)      AMOUNT  SOLE INSTR. V OTHER   INSTR.V SOLE SHARED    NONE
---------------------------- --------------  --------- ------------ --------- ---- -------- ------ -------- ---- ------ -----------
                                                                                         
NICOR INC                    COM             654086107          233     6,618  X                                              6,618
NIKE INC                     CL B            654106103        9,443   121,265  X                                            121,265
NISOURCE INC                 COM             65473P105        2,101    98,871  X                                             98,871
NOKIA CORP                   SPONSORED ADR   654902204        2,304   113,600  X                                            113,600
NOBLE ENERGY INC             COM             655044105        1,287    27,321  X                                             27,321
NORDSTROM INC                COM             655664100          696    17,452  X                                             17,452
NORFOLK SOUTHERN CORP        COM             655844108        3,201   144,908  X                                            144,908
NORTEL NETWORKS CORP NEW     COM             656568102        4,260   717,228  X                                            717,228
NORTH FORK BANCORPORATION NY COM             659424105        1,522    35,967  X                                             35,967
NORTHERN TR CORP             COM             665859104        2,548    54,697  X                                             54,697
NORTHROP GRUMMAN CORP        COM             666807102        9,358    95,086  X                                             95,086
NOVELL INC                   COM             670006105          901    79,218  X                                             79,218
NOVELLUS SYS INC             COM             670008101        1,285    40,584  X                                             40,584
NUCOR CORP                   COM             670346105        1,778    28,928  X                                             28,928
NVIDIA CORP                  COM             67066G104        1,244    47,109  X                                             47,109
OCCIDENTAL PETE CORP DEL     COM             674599105       19,020   413,037  X                                            413,037
OFFICE DEPOT INC             COM             676220106        1,282    68,131  X                                             68,131
OLD REP INTL CORP            COM             680223104        1,873    76,255  X                                             76,255
OMNICARE INC                 COM             681904108        3,748    84,543  X                                             84,543
OMNICOM GROUP INC            COM             681919106        7,081    88,233  X                                             88,233
ORACLE CORP                  COM             68389X105       34,912 2,909,324  X                                          2,909,324
O REILLY AUTOMOTIVE INC      COM             686091109          299     7,477  X                                              7,477
OUTBACK STEAKHOUSE INC       COM             689899102        1,203    24,700  X                                             24,700
OWENS ILL INC                COM NEW         690768403          143    10,233  X                                             10,233
OXFORD HEALTH PLANS INC      COM             691471106        1,560    31,938  X                                             31,938
PG&E CORP                    COM             69331C108        6,314   217,961  X                                            217,961
PMC-SIERRA INC               COM             69344F106          858    50,531  X                                             50,531
PMI GROUP INC                COM             69344M101        1,975    52,861  X                                             52,861
PNC FINL SVCS GROUP INC      COM             693475105        6,819   123,037  X                                            123,037
PPG INDS INC                 COM             693506107        3,697    63,410  X                                             63,410
PPL CORP                     COM             69351T106        4,493    98,532  X                                             98,532
PACCAR INC                   COM             693718108        6,414   114,433  X                                            114,433
PACIFIC SUNWEAR CALIF INC    COM             694873100          331    13,400  X                                             13,400
PACIFICARE HEALTH SYS DEL    COM             695112102        1,356    34,276  X                                             34,276
PACTIV CORP                  COM             695257105        1,429    64,225  X                                             64,225
PALL CORP                    COM             696429307          847    37,332  X                                             37,332
PARAMETRIC TECHNOLOGY CORP   COM             699173100          105    23,162  X                                             23,162
PAREXEL INTL CORP            COM             699462107          209    11,700  X                                             11,700
PARKER HANNIFIN CORP         COM             701094104          976    17,273  X                                             17,273
PATTERSON DENTAL CO          COM             703412106          875    12,774  X                                             12,774
PATTERSON UTI ENERGY INC     COM             703481101        1,167    32,959  X                                             32,959
PAYCHEX INC                  COM             704326107        6,717   188,677  X                                            188,677
PENNEY J C INC               COM             708160106        2,413    69,379  X                                             69,379
PENTAIR INC                  COM             709631105          292     4,949  X                                              4,949
PEOPLES ENERGY CORP          COM             711030106          245     5,491  X                                              5,491
PEOPLESOFT INC               COM             712713106        1,494    80,787  X                                             80,787
PEPSI BOTTLING GROUP INC     COM             713409100        1,640    55,136  X                                             55,136
PEPSICO INC                  COM             713448108       53,622   995,771  X                                            995,771
PERFORMANCE FOOD GROUP CO    COM             713755106          810    23,592  X                                             23,592
PERKINELMER INC              COM             714046109          799    38,597  X                                             38,597
PETSMART INC                 COM             716768106          808    29,879  X                                             29,879
PFIZER INC                   COM             717081103      172,872 4,932,148  X                                          4,932,148
PHARMACEUTICAL PROD DEV INC  COM             717124101          302    10,155  X                                             10,155
PHARMACEUTICAL RES INC       COM             717125108        3,956    69,566  X                                             69,566
PHELPS DODGE CORP            COM             717265102        2,323    28,443  X                                             28,443
PIER 1 IMPORTS INC           COM             720279108          384    16,199  X                                             16,199
PINNACLE WEST CAP CORP       COM             723484101        4,841   123,026  X                                            123,026
PIONEER NAT RES CO           COM             723787107          460    14,253  X                                             14,253


                                       12




          ITEM 1:               ITEM 2:       ITEM 3:    ITEM 4:     ITEM 5:        ITEM 6:         ITEM 7:         ITEM 8:
---------------------------- --------------  --------- ------------ --------- -------------------- -------- -----------------------
                                                                                INV. DISCRETION             VOTING AUTHORITY SHARES
                                                                              --------------------          -----------------------
                                                                               (A)   (B)     (C)             (A)  (B)       (C)
                                                                              ---- -------- ------          ---- ------ -----------
                                                       PENSION FAIR SHARES OR       SHARED         MANAGERS
                                               CUSIP   MARKET VALUE PRINCIPAL      AS DEF.  SHARED   SEE
NAME OF ISSUER               TITLE OF CLASS   NUMBER      ($000)      AMOUNT  SOLE INSTR. V OTHER   INSTR.V SOLE SHARED    NONE
---------------------------- --------------  --------- ------------ --------- ---- -------- ------ -------- ---- ------ -----------
                                                                                           
PIPER JAFFRAY COS            COM             724078100          269     4,964  X                                              4,964
PITNEY BOWES INC             COM             724479100        3,359    78,823  X                                             78,823
PIXAR                        COM             725811103        3,023    46,899  X                                             46,899
PLANTRONICS INC NEW          COM             727493108        1,702    46,500  X                                             46,500
PLUM CREEK TIMBER CO INC     COM             729251108          898    27,644  X                                             27,644
POGO PRODUCING CO            COM             730448107        4,039    88,056  X                                             88,056
POLARIS INDS INC             COM             731068102        1,077    23,706  X                                             23,706
POLO RALPH LAUREN CORP       CL A            731572103          944    27,544  X                                             27,544
POLYCOM INC                  COM             73172K104          430    20,279  X                                             20,279
POPULAR INC                  COM             733174106        1,961    45,504  X                                             45,504
PRAXAIR INC                  COM             74005P104        8,638   232,694  X                                            232,694
PRECISION CASTPARTS CORP     COM             740189105        1,062    24,121  X                                             24,121
PRICE T ROWE GROUP INC       COM             74144T108        2,667    49,551  X                                             49,551
PRIDE INTL INC DEL           COM             74153Q102          239    14,006  X                                             14,006
PRINCIPAL FINANCIAL GROUP IN COM             74251V102        3,803   106,736  X                                            106,736
PROCTER & GAMBLE CO          COM             742718109       87,726   836,441  X                                            836,441
PROGRESS ENERGY INC          COM             743263105        3,289    69,864  X                                             69,864
PROGRESSIVE CORP OHIO        COM             743315103        7,584    86,579  X                                             86,579
PROLOGIS                     SH BEN INT      743410102        1,240    34,565  X                                             34,565
PROTECTIVE LIFE CORP         COM             743674103        1,227    32,751  X                                             32,751
PROTEIN DESIGN LABS INC      COM             74369L103          379    15,928  X                                             15,928
PROVIDIAN FINL CORP          COM             74406A102        1,160    88,523  X                                             88,523
PRUDENTIAL FINL INC          COM             744320102        5,285   118,023  X                                            118,023
PUBLIC SVC ENTERPRISE GROUP  COM             744573106        3,268    69,556  X                                             69,556
PUBLIC STORAGE INC           COM             74460D109          287     5,900  X                                              5,900
PUGET ENERGY INC NEW         COM             745310102          290    12,950  X                                             12,950
PULTE HOMES INC              COM             745867101        1,694    30,462  X                                             30,462
QLOGIC CORP                  COM             747277101        2,641    80,025  X                                             80,025
QUALCOMM INC                 COM             747525103       40,664   613,429  X                                            613,429
QUEST DIAGNOSTICS INC        COM             74834L100        2,758    33,294  X                                             33,294
QUESTAR CORP                 COM             748356102        2,780    76,288  X                                             76,288
QWEST COMMUNICATIONS INTL IN COM             749121109        2,492   578,159  X                                            578,159
RPM INTL INC                 COM             749685103          209    12,639  X                                             12,639
RADIAN GROUP INC             COM             750236101        3,176    74,552  X                                             74,552
RADIO ONE INC                CL D NON VTG    75040P405          190    10,277  X                                             10,277
RADIOSHACK CORP              COM             750438103        1,657    49,984  X                                             49,984
RAMBUS INC DEL               COM             750917106          491    17,518  X                                             17,518
RAYONIER INC                 COM             754907103          209     4,784  X                                              4,784
RAYTHEON CO                  COM NEW         755111507        5,077   162,005  X                                            162,005
REALNETWORKS INC             COM             75605L104          100    16,738  X                                             16,738
REALTY INCOME CORP           COM             756109104        1,381    30,938  X                                             30,938
RED HAT INC                  COM             756577102          612    26,564  X                                             26,564
REEBOK INTL LTD              COM             758110100        1,226    29,653  X                                             29,653
REGENCY CTRS CORP            COM             758849103          556    11,895  X                                             11,895
REGIS CORP MINN              COM             758932107          275     6,188  X                                              6,188
REGIONS FINL CORP            COM             758940100        5,650   154,715  X                                            154,715
REINSURANCE GROUP AMER INC   COM             759351109        1,725    42,099  X                                             42,099
RELIANT RES INC              COM             75952B105          131    16,012  X                                             16,012
RENAL CARE GROUP INC         COM             759930100          332     7,248  X                                              7,248
RENT A CTR INC NEW           COM             76009N100        2,150    65,232  X                                             65,232
REPUBLIC SVCS INC            COM             760759100        1,134    41,892  X                                             41,892
RESMED INC                   COM             761152107          319     7,052  X                                              7,052
RESPIRONICS INC              COM             761230101          387     7,166  X                                              7,166
REYNOLDS & REYNOLDS CO       CL A            761695105        1,292    45,474  X                                             45,474
REYNOLDS R J TOB HLDGS INC   COM             76182K105        2,064    34,123  X                                             34,123
RITE AID CORP                COM             767754104          411    75,493  X                                             75,493
ROBERT HALF INTL INC         COM             770323103        1,108    46,900  X                                             46,900
ROCKWELL AUTOMATION INC      COM             773903109        3,806   109,772  X                                            109,772


                                       13




          ITEM 1:               ITEM 2:       ITEM 3:    ITEM 4:     ITEM 5:        ITEM 6:         ITEM 7:         ITEM 8:
---------------------------- --------------  --------- ------------ --------- -------------------- -------- -----------------------
                                                                                INV. DISCRETION             VOTING AUTHORITY SHARES
                                                                              --------------------          -----------------------
                                                                               (A)   (B)     (C)             (A)  (B)       (C)
                                                                              ---- -------- ------          ---- ------ -----------
                                                       PENSION FAIR SHARES OR       SHARED         MANAGERS
                                               CUSIP   MARKET VALUE PRINCIPAL      AS DEF.  SHARED   SEE
NAME OF ISSUER               TITLE OF CLASS   NUMBER      ($000)      AMOUNT  SOLE INSTR. V OTHER   INSTR.V SOLE SHARED    NONE
---------------------------- --------------  --------- ------------ --------- ---- -------- ------ -------- ---- ------ -----------
                                                                                         
ROCKWELL COLLINS INC         COM             774341101        3,205   101,407  X                                            101,407
ROHM & HAAS CO               COM             775371107        3,171    79,583  X                                             79,583
ROSS STORES INC              COM             778296103        2,954    96,456  X                                             96,456
ROUSE CO                     COM             779273101        2,721    50,766  X                                             50,766
ROWAN COS INC                COM             779382100        1,260    59,731  X                                             59,731
RUBY TUESDAY INC             COM             781182100          413    12,834  X                                             12,834
RYDER SYS INC                COM             783549108          958    24,727  X                                             24,727
SBC COMMUNICATIONS INC       COM             78387G103       37,757 1,538,580  X                                          1,538,580
SEI INVESTMENTS CO           COM             784117103        1,635    49,550  X                                             49,550
SLM CORP                     COM             78442P106       10,409   248,713  X                                            248,713
SPX CORP                     COM             784635104          310     6,818  X                                              6,818
SABRE HLDGS CORP             CL A            785905100          505    20,343  X                                             20,343
SAFECO CORP                  COM             786429100        2,562    59,416  X                                             59,416
SAFEWAY INC                  COM NEW         786514208        4,223   205,222  X                                            205,222
ST JOE CO                    COM             790148100        1,630    40,066  X                                             40,066
ST JUDE MED INC              COM             790849103        8,363   115,992  X                                            115,992
ST PAUL COS INC              COM             792860108        2,130    53,244  X                                             53,244
SANDISK CORP                 COM             80004C101        6,667   235,084  X                                            235,084
SANMINA SCI CORP             COM             800907107        2,237   202,658  X                                            202,658
SARA LEE CORP                COM             803111103       10,221   467,580  X                                            467,580
SCANA CORP NEW               COM             80589M102        1,098    31,059  X                                             31,059
SCHEIN HENRY INC             COM             806407102        3,854    54,067  X                                             54,067
SCHERING PLOUGH CORP         COM             806605101       10,385   640,238  X                                            640,238
SCHLUMBERGER LTD             COM             806857108        3,472    54,380  X                                             54,380
SCHWAB CHARLES CORP NEW      COM             808513105        5,485   472,451  X                                            472,451
SCIENTIFIC ATLANTA INC       COM             808655104        6,309   195,071  X                                            195,071
SCOTTS CO                    CL A            810186106          533     8,313  X                                              8,313
SCRIPPS E W CO OHIO          CL A            811054204        2,337    23,118  X                                             23,118
SEALED AIR CORP NEW          COM             81211K100        2,201    44,269  X                                             44,269
SEARS ROEBUCK & CO           COM             812387108        8,682   202,084  X                                            202,084
SEMPRA ENERGY                COM             816851109        3,990   125,471  X                                            125,471
SEPRACOR INC                 COM             817315104        3,296    68,514  X                                             68,514
SERVICE CORP INTL            COM             817565104          133    17,797  X                                             17,797
SERVICEMASTER CO             COM             81760N109          214    17,796  X                                             17,796
SHERWIN WILLIAMS CO          COM             824348106        3,290    85,609  X                                             85,609
SIEBEL SYS INC               COM             826170102        1,217   105,538  X                                            105,538
SIGMA ALDRICH CORP           COM             826552101        1,862    33,623  X                                             33,623
SILICON LABORATORIES INC     COM             826919102        1,328    25,119  X                                             25,119
SILICON STORAGE TECHNOLOGY I COM             827057100          383    29,600  X                                             29,600
SIMON PPTY GROUP INC NEW     COM             828806109        2,642    45,202  X                                             45,202
SIRIUS SATELLITE RADIO INC   COM             82966U103          193    56,751  X                                             56,751
SKY FINL GROUP INC           COM             83080P103          583    22,458  X                                             22,458
SMITH & NEPHEW PLC           SPDN ADR NEW    83175M205          991    19,600  X                                             19,600
SMITH INTL INC               COM             832110100        1,888    35,288  X                                             35,288
SMUCKER J M CO               COM NEW         832696405          748    14,179  X                                             14,179
SMURFIT-STONE CONTAINER CORP COM             832727101          257    14,626  X                                             14,626
SNAP ON INC                  COM             833034101          279     8,619  X                                              8,619
SOLECTRON CORP               COM             834182107          952   172,140  X                                            172,140
SOUTHERN CO                  COM             842587107        7,271   238,388  X                                            238,388
SOUTHTRUST CORP              COM             844730101       10,511   316,883  X                                            316,883
SOUTHWEST AIRLS CO           COM             844741108        7,926   557,811  X                                            557,811
SOVEREIGN BANCORP INC        COM             845905108          385    17,959  X                                             17,959
SPRINT CORP                  COM FON GROUP   852061100        6,719   364,592  X                                            364,592
SPRINT CORP                  PCS COM SER 1   852061506        3,605   391,863  X                                            391,863
SS&C TECHNOLOGIES INC        COM             85227Q100        1,028    42,150  X                                             42,150
STANCORP FINL GROUP INC      COM             852891100          409     6,275  X                                              6,275
STANLEY WKS                  COM             854616109          474    11,112  X                                             11,112
STAPLES INC                  COM             855030102        3,624   143,146  X                                            143,146


                                       14




          ITEM 1:               ITEM 2:       ITEM 3:    ITEM 4:     ITEM 5:        ITEM 6:         ITEM 7:         ITEM 8:
---------------------------- --------------  --------- ------------ --------- -------------------- -------- -----------------------
                                                                                INV. DISCRETION             VOTING AUTHORITY SHARES
                                                                              --------------------          -----------------------
                                                                               (A)   (B)     (C)             (A)  (B)       (C)
                                                                              ---- -------- ------          ---- ------ -----------
                                                       PENSION FAIR SHARES OR       SHARED         MANAGERS
                                               CUSIP   MARKET VALUE PRINCIPAL      AS DEF.  SHARED   SEE
NAME OF ISSUER               TITLE OF CLASS   NUMBER      ($000)      AMOUNT  SOLE INSTR. V OTHER   INSTR.V SOLE SHARED    NONE
---------------------------- --------------  --------- ------------ --------- ---- -------- ------ -------- ---- ------ -----------
                                                                                         
STARBUCKS CORP               COM             855244109        7,791   205,740  X                                            205,740
STARWOOD HOTELS&RESORTS WRLD PAIRED CTF      85590A203        3,880    95,808  X                                             95,808
STATE STR CORP               COM             857477103        5,169    99,152  X                                             99,152
STATION CASINOS INC          COM             857689103        1,188    26,906  X                                             26,906
STERICYCLE INC               COM             858912108        1,269    26,451  X                                             26,451
STERIS CORP                  COM             859152100        1,028    39,856  X                                             39,856
STEWART INFORMATION SVCS COR COM             860372101          817    20,800  X                                             20,800
STORAGE TECHNOLOGY CORP      COM PAR $0.10   862111200          368    13,231  X                                             13,231
STRYKER CORP                 COM             863667101        9,157   103,432  X                                            103,432
STUDENT LN CORP              COM             863902102        3,200    20,644  X                                             20,644
SUN MICROSYSTEMS INC         COM             866810104        4,702 1,127,478  X                                          1,127,478
SUNGARD DATA SYS INC         COM             867363103        5,383   196,469  X                                            196,469
SUNOCO INC                   COM             86764P109        3,876    62,133  X                                             62,133
SUNTRUST BKS INC             COM             867914103        7,903   113,366  X                                            113,366
SUPERVALU INC                COM             868536103        2,894    94,758  X                                             94,758
SYBRON DENTAL SPECIALTIES IN COM             871142105          262     9,600  X                                              9,600
SYMANTEC CORP                COM             871503108       13,587   293,456  X                                            293,456
SYMBOL TECHNOLOGIES INC      COM             871508107          893    64,716  X                                             64,716
SYNOPSYS INC                 COM             871607107        2,327    80,980  X                                             80,980
SYNOVUS FINL CORP            COM             87161C105        2,269    92,792  X                                             92,792
SYSCO CORP                   COM             871829107       15,035   385,024  X                                            385,024
TCF FINL CORP                COM             872275102          694    13,580  X                                             13,580
TECO ENERGY INC              COM             872375100          676    46,174  X                                             46,174
TJX COS INC NEW              COM             872540109        6,716   273,445  X                                            273,445
TXU CORP                     COM             873168108        2,244    78,281  X                                             78,281
TARGET CORP                  COM             87612E106       28,211   626,344  X                                            626,344
TECH DATA CORP               COM             878237106        2,029    49,562  X                                             49,562
TEKTRONIX INC                COM             879131100          470    14,380  X                                             14,380
TELEPHONE & DATA SYS INC     COM             879433100        1,764    24,897  X                                             24,897
TELLABS INC                  COM             879664100          742    85,675  X                                             85,675
TEMPLE INLAND INC            COM             879868107          478     7,552  X                                              7,552
TENET HEALTHCARE CORP        COM             88033G100          901    80,732  X                                             80,732
TERADYNE INC                 COM             880770102        1,323    55,502  X                                             55,502
TEVA PHARMACEUTICAL INDS LTD ADR             881624209        2,111    33,310  X                                             33,310
TEXAS INSTRS INC             COM             882508104       27,956   956,732  X                                            956,732
TEXTRON INC                  COM             883203101        1,477    27,781  X                                             27,781
THERMO ELECTRON CORP         COM             883556102          991    35,047  X                                             35,047
3COM CORP                    COM             885535104          161    22,746  X                                             22,746
3M CO                        COM             88579Y101       42,171   515,096  X                                            515,096
TIDEWATER INC                COM             886423102          206     7,322  X                                              7,322
TIFFANY & CO NEW             COM             886547108        2,284    59,848  X                                             59,848
TIMBERLAND CO                CL A            887100105          234     3,934  X                                              3,934
TIME WARNER INC              COM             887317105       36,240 2,149,489  X                                          2,149,489
TORCHMARK CORP               COM             891027104        6,944   129,103  X                                            129,103
TOTAL SYS SVCS INC           COM             891906109        1,622    76,992  X                                             76,992
TOYS R US INC                COM             892335100          525    31,271  X                                             31,271
TRAVELERS PPTY CAS CORP NEW  CL A            89420G109          259    15,124  X                                             15,124
TRAVELERS PPTY CAS CORP NEW  CL B            89420G406        3,136   181,612  X                                            181,612
TRIAD HOSPITALS INC          COM             89579K109          716    23,240  X                                             23,240
TRIBUNE CO NEW               COM             896047107        5,795   114,881  X                                            114,881
TRUSTMARK CORP               COM             898402102          507    17,471  X                                             17,471
TYCO INTL LTD NEW            COM             902124106       18,627   650,150  X                                            650,150
TYSON FOODS INC              CL A            902494103          225    12,456  X                                             12,456
UGI CORP NEW                 COM             902681105          328     9,970  X                                              9,970
UST INC                      COM             902911106        2,299    63,674  X                                             63,674
US BANCORP DEL               COM NEW         902973304       18,105   654,779  X                                            654,779
UNILEVER N V                 N Y SHS NEW     904784709          451     6,500  X                                              6,500
UNION PAC CORP               COM             907818108        6,726   112,445  X                                            112,445


                                       15




          ITEM 1:               ITEM 2:       ITEM 3:    ITEM 4:     ITEM 5:        ITEM 6:         ITEM 7:         ITEM 8:
---------------------------- --------------  --------- ------------ --------- -------------------- -------- -----------------------
                                                                                INV. DISCRETION             VOTING AUTHORITY SHARES
                                                                              --------------------          -----------------------
                                                                               (A)   (B)     (C)             (A)  (B)       (C)
                                                                              ---- -------- ------          ---- ------ -----------
                                                       PENSION FAIR SHARES OR       SHARED         MANAGERS
                                               CUSIP   MARKET VALUE PRINCIPAL      AS DEF.  SHARED   SEE
NAME OF ISSUER               TITLE OF CLASS   NUMBER      ($000)      AMOUNT  SOLE INSTR. V OTHER   INSTR.V SOLE SHARED    NONE
---------------------------- --------------  --------- ------------ --------- ---- -------- ------ -------- ---- ------ -----------
                                                                                         
UNION PLANTERS CORP          COM             908068109          903    30,244  X                                             30,244
UNIONBANCAL CORP             COM             908906100          675    12,881  X                                             12,881
UNISYS CORP                  COM             909214108        1,462   102,412  X                                            102,412
UNITED ONLINE INC            COM             911268100          743    44,200  X                                             44,200
UNITED PARCEL SERVICE INC    CL B            911312106       23,359   334,470  X                                            334,470
UNITED STATES STL CORP NEW   COM             912909108        2,359    63,293  X                                             63,293
UNITED TECHNOLOGIES CORP     COM             913017109       28,392   328,988  X                                            328,988
UNITEDHEALTH GROUP INC       COM             91324P102       23,984   372,196  X                                            372,196
UNITEDGLOBALCOM              CL A            913247508          381    44,929  X                                             44,929
UNIVERSAL HLTH SVCS INC      CL B            913903100        3,118    67,670  X                                             67,670
UNIVISION COMMUNICATIONS INC CL A            914906102        3,454   104,629  X                                            104,629
UNOCAL CORP                  COM             915289102        2,451    65,740  X                                             65,740
UNUMPROVIDENT CORP           COM             91529Y106          627    42,876  X                                             42,876
URBAN OUTFITTERS INC         COM             917047102        1,447    30,100  X                                             30,100
UTSTARCOM INC                COM             918076100        2,614    90,906  X                                             90,906
V F CORP                     COM             918204108          663    14,205  X                                             14,205
VALEANT PHARMACEUTICALS INTL COM             91911X104          202     8,478  X                                              8,478
VALERO ENERGY CORP NEW       COM             91913Y100        3,055    50,958  X                                             50,958
VALLEY NATL BANCORP          COM             919794107          321    11,487  X                                             11,487
VALSPAR CORP                 COM             920355104          767    15,571  X                                             15,571
VARCO INTL INC DEL           COM             922122106          275    15,248  X                                             15,248
VARIAN MED SYS INC           COM             92220P105        4,585    53,119  X                                             53,119
VECTREN CORP                 COM             92240G101          307    12,428  X                                             12,428
VERISIGN INC                 COM             92343E102          568    34,241  X                                             34,241
VERIZON COMMUNICATIONS       COM             92343V104       49,210 1,346,730  X                                          1,346,730
VERITAS SOFTWARE CO          COM             923436109        7,989   296,865  X                                            296,865
VIAD CORP                    COM             92552R109          287    11,869  X                                             11,869
VIACOM INC                   CL A            925524100        1,989    50,300  X                                             50,300
VIACOM INC                   CL B            925524308       33,330   850,038  X                                            850,038
VISHAY INTERTECHNOLOGY INC   COM             928298108          313    14,653  X                                             14,653
VISTEON CORP                 COM             92839U107          109    11,372  X                                             11,372
VODAFONE GROUP PLC NEW       SPONSORED ADR   92857W100          519    21,700  X                                             21,700
VORNADO RLTY TR              SH BEN INT      929042109          287     4,750  X                                              4,750
VULCAN MATLS CO              COM             929160109        1,598    33,681  X                                             33,681
WACHOVIA CORP 2ND NEW        COM             929903102       39,112   832,173  X                                            832,173
WADDELL & REED FINL INC      CL A            930059100          697    28,423  X                                             28,423
WAL MART STORES INC          COM             931142103      133,986 2,244,692  X                                          2,244,692
WALGREEN CO                  COM             931422109       13,130   398,492  X                                            398,492
WASHINGTON MUT INC           COM             939322103       23,212   543,477  X                                            543,477
WASHINGTON POST CO           CL B            939640108          459       519  X                                                519
WASTE MGMT INC DEL           COM             94106L109        7,866   260,642  X                                            260,642
WATERS CORP                  COM             941848103        3,301    80,833  X                                             80,833
WATSON PHARMACEUTICALS INC   COM             942683103        1,427    33,355  X                                             33,355
WATTS WATER TECHNOLOGIES INC CL A            942749102          605    25,850  X                                             25,850
WEBMD CORP                   COM             94769M105          941   105,844  X                                            105,844
WEIGHT WATCHERS INTL INC NEW COM             948626106        1,533    36,276  X                                             36,276
WEINGARTEN RLTY INVS         SH BEN INT      948741103        2,128    61,512  X                                             61,512
WELLPOINT HEALTH NETWORK NEW COM             94973H108        9,514    83,666  X                                             83,666
WELLS FARGO & CO NEW         COM             949746101       34,747   613,147  X                                            613,147
WENDYS INTL INC              COM             950590109          777    19,097  X                                             19,097
WESTAR ENERGY INC            COM             95709T100        1,794    85,600  X                                             85,600
WESTAMERICA BANCORPORATION   COM             957090103        1,468    29,089  X                                             29,089
WESTERN DIGITAL CORP         COM             958102105          470    41,878  X                                             41,878
WESTERN WIRELESS CORP        CL A            95988E204        1,417    60,600  X                                             60,600
WESTWOOD ONE INC             COM             961815107          710    24,103  X                                             24,103
WEYERHAEUSER CO              COM             962166104        6,657   101,631  X                                            101,631
WHIRLPOOL CORP               COM             963320106        3,707    53,827  X                                             53,827
WHITNEY HLDG CORP            COM             966612103          357     8,552  X                                              8,552


                                       16




          ITEM 1:               ITEM 2:       ITEM 3:    ITEM 4:     ITEM 5:        ITEM 6:         ITEM 7:         ITEM 8:
---------------------------- --------------  --------- ------------ --------- -------------------- -------- -----------------------
                                                                                INV. DISCRETION             VOTING AUTHORITY SHARES
                                                                              --------------------          -----------------------
                                                                               (A)   (B)     (C)             (A)  (B)       (C)
                                                                              ---- -------- ------          ---- ------ -----------
                                                       PENSION FAIR SHARES OR       SHARED         MANAGERS
                                               CUSIP   MARKET VALUE PRINCIPAL      AS DEF.  SHARED   SEE
NAME OF ISSUER               TITLE OF CLASS   NUMBER      ($000)      AMOUNT  SOLE INSTR. V OTHER   INSTR.V SOLE SHARED    NONE
---------------------------- --------------  --------- ------------ --------- ---- -------- ------ -------- ---- ------ -----------
                                                                                           
WHOLE FOODS MKT INC          COM             966837106        3,631    48,452  X                                             48,452
WILEY JOHN & SONS INC        CL A            968223206          306    10,218  X                                             10,218
WILLIAMS COS INC DEL         COM             969457100          726    75,893  X                                             75,893
WILLIAMS SONOMA INC          COM             969904101        1,272    37,197  X                                             37,197
WILMINGTON TRUST CORP        COM             971807102          276     7,393  X                                              7,393
WINN DIXIE STORES INC        COM             974280109          130    17,164  X                                             17,164
WISCONSIN ENERGY CORP        COM             976657106          994    30,930  X                                             30,930
WORTHINGTON INDS INC         COM             981811102          312    16,295  X                                             16,295
WRIGLEY WM JR CO             COM             982526105        3,876    65,558  X                                             65,558
WYETH                        COM             983024100       24,230   645,268  X                                            645,268
XM SATELLITE RADIO HLDGS INC CL A            983759101        1,248    44,698  X                                             44,698
XTO ENERGY INC               COM             98385X106        1,832    72,593  X                                             72,593
XCEL ENERGY INC              COM             98389B100        2,657   149,186  X                                            149,186
XILINX INC                   COM             983919101        5,377   142,395  X                                            142,395
XEROX CORP                   COM             984121103        3,382   232,146  X                                            232,146
YAHOO INC                    COM             984332106       13,934   287,485  X                                            287,485
YOUNG BROADCASTING INC       CL A            987434107          847    46,800  X                                             46,800
YUM BRANDS INC               COM             988498101        3,395    89,363  X                                             89,363
ZEBRA TECHNOLOGIES CORP      CL A            989207105        2,109    30,397  X                                             30,397
ZIMMER HLDGS INC             COM             98956P102       15,077   204,347  X                                            204,347
ZIONS BANCORPORATION         COM             989701107          750    13,141  X                                             13,141

GRAND TOTAL                                               5,847,544


                                       17