UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 13F
Form 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: December 31, 2002
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: BP p.l.c.
Address: 1 St James's Square
London SW1Y 4PD
England
Form 13F File Number: 28-05353
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: Dr. Byron E. Grote
Title: Chief Financial Officer and Executive Director
Phone: 020 7496 4263
Signature, Place, and Date of Signing:
/s/ Byron Grote London, UK 30 Jan 2003
--------------------------- -------------------- --------------------
[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).)
List of Other Managers Reporting for this Manager:
Form 13F File Number Name
28-________________ _______________
Form 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers: 2
----------
Form 13F Information Table Entry Total: 321
----------
Form 13F Information Table Value Total: $ 969,813
----------
(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.
No. Form 13F File Number Name
01 28-05357 BP Investment Management Limited
02 28-00312 BP Corporation North America Inc.
BP P.L.C.
FORM 13F INFORMATION TABLE
DECEMBER 31, 2002
TITLE MARKET VOTING AUTHORITY
OF VALUE SHARES/ SH/ INVESTMENT OTHER ---------------------------
ISSUER CLASS CUSIP ($000) PRN AMT PRN DISCRETION MANAGERS SOLE SHARED NONE
1ST DATA CPUSD0.01 COM 319963104 3,364 95,000 SH DEFINED 01 95,000
3M COM 88579Y101 6,165 50,000 SH DEFINED 01 50,000
5TH 3RD BANCO NPV COM 316773100 4,391 75,000 SH DEFINED 01 75,000
ABBOTT LABS COM 002824100 7,000 175,000 SH DEFINED 01 175,000
ADC TELECOM COM 000886101 157 75,000 SH DEFINED 01 75,000
ADOBE SYSTEMS COM 00724F101 992 40,000 SH DEFINED 01 40,000
AFLAC 0.10 COM 001055102 2,108 70,000 SH DEFINED 01 70,000
AIR PROD&CHEM COM 009158106 1,710 40,000 SH DEFINED 01 40,000
ALBERTSON'S COM 013104104 779 35,000 SH DEFINED 01 35,000
ALCOA INC COM 013817101 2,392 105,000 SH DEFINED 01 105,000
ALLOS THERAPEUTICS COM 019777101 320 42,513 SH DEFINED 02 42,513
ALLSTATE CORP 0.01 COM 020002101 2,774 75,000 SH DEFINED 01 75,000
ALLTEL COM 020039103 1,683 33,000 SH DEFINED 01 33,000
ALTERA CP COM 021441100 493 40,000 SH DEFINED 01 40,000
AMAZON COM COM 023135106 661 35,000 SH DEFINED 01 35,000
AMBAC FIN COM 023139108 844 15,000 SH DEFINED 01 15,000
AMER ELEC COM 025537101 916 33,500 SH DEFINED 01 33,500
AMER EXPRS COM 025816109 5,303 150,000 SH DEFINED 01 150,000
AMER INT GR COM 026874107 16,800 290,405 SH DEFINED 01 290,405
AMER MOV ADR20 ADR 02364W105 862 60,000 SH DEFINED 01 60,000
AMER MOV ADR20 ADR 02364W204 1,390 100,000 SH DEFINED 01 100,000
AMEREN 0.01 COM 023608102 1,455 35,000 SH DEFINED 01 35,000
AMGEN 0.0001 COM 031162100 7,734 160,000 SH DEFINED 01 160,000
AMR CORP COM 001765106 92 14,000 SH DEFINED 01 14,000
AMSOUTH BNCP COM 032165102 864 45,000 SH DEFINED 01 45,000
ANADARKO PET COM 032511107 1,197 25,000 SH DEFINED 01 25,000
ANALOG 0.166 COM 032654105 955 40,000 SH DEFINED 01 40,000
ANHEUSER COM 035229103 5,024 103,800 SH DEFINED 01 103,800
AOL TIME WARNER COM 00184A105 5,436 415,000 SH DEFINED 01 415,000
APACHE CORP 1.25 COM 037411105 1,140 20,000 SH DEFINED 01 20,000
APP MATERIAL COM 038222105 2,645 203,000 SH DEFINED 01 203,000
APPLE COM NPV COM 037833100 573 40,000 SH DEFINED 01 40,000
APPLERA BIOSYS COM 038020103 351 20,000 SH DEFINED 01 20,000
ARGLNT TECH COM 00846U101 685 38,140 SH DEFINED 01 38,140
AT&T CORP COM 001957505 2,165 82,909 SH DEFINED 01 82,909
AT&T WIRELESS COM 00209A106 1,921 340,000 SH DEFINED 01 340,000
AT&T-LIB MED CORP COM 530718105 2,603 291,200 SH DEFINED 01 291,200
AUTO DATA 0.10 COM 053015103 2,944 75,000 SH DEFINED 01 75,000
AVON PRODS COM 054303102 1,616 30,000 SH DEFINED 01 30,000
AVY INC COM 053499109 62 25,416 SH DEFINED 01 25,416
BAKER HUGHES 1 COM 057224107 1,610 50,000 SH DEFINED 01 50,000
BANK ONE CP COM 06423A103 5,848 160,000 SH DEFINED 01 160,000
BAXTER INTL COM 071813109 2,240 80,000 SH DEFINED 01 80,000
BB&T CP USD5 COM 054937107 2,219 60,000 SH DEFINED 01 60,000
BEA SYSTEM 0.001 COM 073325102 574 50,000 SH DEFINED 01 50,000
BECTON DICK 1 COM 075887109 767 25,000 SH DEFINED 01 25,000
BELLSOUTH COM 079860102 5,433 210,000 SH DEFINED 01 210,000
BERKSHIRE HATH'A' COM 084670108 10,913 150 SH DEFINED 01 150
BEST BUY 0.10 COM 086516101 1,087 45,000 SH DEFINED 01 45,000
BIOGEN COM 090597105 561 14,000 SH DEFINED 01 14,000
BK NEWYORK 7.50 COM 064057102 1,917 80,000 SH DEFINED 01 80,000
BK OF AMER USD.01 COM 060505104 13,218 190,000 SH DEFINED 01 190,000
BLACK&DECKER 0.50 COM 091797100 858 20,000 SH DEFINED 01 20,000
BLOCK(H&R)NPV COM 093671105 804 20,000 SH DEFINED 01 20,000
BMC SOFTWARE COM 055921100 770 45,000 SH DEFINED 01 45,000
BOEING COM 097023105 3,860 117,000 SH DEFINED 01 117,000
BOSTON SCIEN 0.01 COM 101137107 2,551 60,000 SH DEFINED 01 60,000
BROADCOM COM 111320107 316 21,000 SH DEFINED 01 21,000
BRSTL-MYER SQ!0.10 COM 110122108 5,000 216,000 SH DEFINED 01 216,000
BURLINGTN RES 0.01 COM 122014103 1,279 30,000 SH DEFINED 01 30,000
BURLINGTON N. NPV COM 12189T104 1,561 60,000 SH DEFINED 01 60,000
CAP1 FINL COM 14040H105 743 25,000 SH DEFINED 01 25,000
CARDINAL HLTH NPV COM 14149Y108 2,812 47,500 SH DEFINED 01 47,500
CARNIVAL COM 143658102 1,622 65,000 SH DEFINED 01 65,000
CARSO GBL SPN.ADR ADR 14574P107 1,408 640,000 SH DEFINED 01 640,000
CATERPILLAR COM 149123101 2,720 59,500 SH DEFINED 01 59,500
CEMX ADR 5 CPO ADR 151290889 2,366 110,000 SH DEFINED 01 110,000
CENDANT 0.01 COM 151313103 1,782 170,000 SH DEFINED 01 170,000
CERIDIAN COM 15677T106 433 30,000 SH DEFINED 01 30,000
CHEVRONTEXACO COM 166751107 8,313 125,050 SH DEFINED 01 125,050
CHUBB CORP!1 COM 171232101 1,044 20,000 SH DEFINED 01 20,000
CIENA CP 0.01 COM 171779101 154 30,000 SH DEFINED 01 30,000
CIGNA CP COM 125509109 699 17,000 SH DEFINED 01 17,000
CISCO SYSTEMS COM 17275R102 10,873 830,000 SH DEFINED 01 830,000
CITIGROUP USD0.01 COM 172967101 19,871 564,669 SH DEFINED 01 564,669
CITRIX SYS COM 177376100 370 30,000 SH DEFINED 01 30,000
CLEAR CHANNL COM 184502102 2,610 70,000 SH DEFINED 01 70,000
COCA COLA!0.25 COM 191216100 11,393 260,000 SH DEFINED 01 260,000
COCA-COLA ENT 1 COM 191219104 869 40,000 SH DEFINED 01 40,000
COLGATE COM 194162103 4,095 78,100 SH DEFINED 01 78,100
COMCAST CORP(NEW) COM 20030N200 2,372 105,000 SH DEFINED 01 105,000
COMCAST'A' COM 20030N101 3,397 144,105 SH DEFINED 01 144,105
COMERICA 5 COM 200340107 951 22,000 SH DEFINED 01 22,000
COMP SCIENCES 1 COM 205363104 689 20,000 SH DEFINED 01 20,000
COMVERSE TEC COM 205862402 301 30,000 SH DEFINED 01 30,000
CONCORD EFS COM 206197105 1,102 70,000 SH DEFINED 01 70,000
CONOCOPHILLIPS COM 718507106 3,391 70,077 SH DEFINED 01 70,077
CONSL EDISON 0.10 COM 209115104 2,569 60,000 SH DEFINED 01 60,000
COSTCO WHLESLE COM 22160K105 1,599 57,000 SH DEFINED 01 57,000
COX COMM'A' 1 COM 224044107 852 30,000 SH DEFINED 01 30,000
CREATIVE TECH COM 225290402 676 95,510 SH DEFINED 01 95,510
CSX CORP COM 126408103 849 30,000 SH DEFINED 01 30,000
CVS CORP COM 126650100 1,498 60,000 SH DEFINED 01 60,000
DARDEN RESTCSN COM 237194105 1,125 55,000 SH DEFINED 01 55,000
DEERE&CO!1 COM 244199105 1,375 30,000 SH DEFINED 01 30,000
DEL MON FDS COM 24522P103 155 20,097 SH DEFINED 01 20,097
DELL COMPUTER!0.01 COM 247025109 7,888 295,000 SH DEFINED 01 295,000
DELPHI CORP COM 247126105 929 115,430 SH DEFINED 01 115,430
DOLLAR GEN!0.50 COM 256669102 553 46,250 SH DEFINED 01 46,250
DOMINION RES(VIRG) COM 257470104 3,019 55,000 SH DEFINED 01 55,000
DOW CHEM COM 260543103 3,564 120,000 SH DEFINED 01 120,000
DTE ENRGY COM 233331107 1,392 30,000 SH DEFINED 01 30,000
DU PONTC/TUSD0.30 COM 263534109 5,724 135,000 SH DEFINED 01 135,000
DUKE ENGY NPV COM 264399106 1,368 70,000 SH DEFINED 01 70,000
EATON CORP COM 278058102 937 12,000 SH DEFINED 01 12,000
EBAY IUSD0.01 COM 278642103 1,831 27,000 SH DEFINED 01 27,000
ECOLAB 1 COM 278865100 742 15,000 SH DEFINED 01 15,000
EMC CORP 0.01 COM 268648102 1,474 240,000 SH DEFINED 01 240,000
EMERSON ELEC 1 COM 291011104 2,543 50,000 SH DEFINED 01 50,000
ENGELHARD !1 COM 292845104 671 30,000 SH DEFINED 01 30,000
EQTY OFCE USD0.01 COM 294741103 1,249 50,000 SH DEFINED 01 50,000
EXULT INC COM 302284104 18,660 5,867,892 SH SOLE 5,867,892
EXXON MOB COM 30231G102 28,301 810,000 SH DEFINED 01 810,000
FANNIE MAE COM 313586109 7,398 115,000 SH DEFINED 01 115,000
FED DEPT US 0.01 COM 31410H101 575 20,000 SH DEFINED 01 20,000
FEDEX CORP COM 31428X106 1,898 35,000 SH DEFINED 01 35,000
FLEET BSTN FINL COM 339030108 2,649 109,000 SH DEFINED 01 109,000
FLUOR COM 343861100 560 20,000 SH DEFINED 01 20,000
FOM ECON ADR ADR 344419106 1,093 30,000 SH DEFINED 01 30,000
FORD MTR COM 345370860 1,880 202,097 SH DEFINED 01 202,097
FOX ENT GRP'A' COM 35138T107 908 35,000 SH DEFINED 01 35,000
FPL GR 0.01 COM 302571104 1,624 27,000 SH DEFINED 01 27,000
FRANKLIN RES!0.10 COM 354613101 682 20,000 SH DEFINED 01 20,000
FRED MAC USD0.21 COM 313400301 3,956 67,000 SH DEFINED 01 67,000
GANNETT CO 1 COM 364730101 3,188 44,400 SH DEFINED 01 44,400
GAP INC 0.05 COM 364760108 1,319 85,000 SH DEFINED 01 85,000
GEN ELEC COM 369604103 26,663 1,095,000 SH DEFINED 01 1,095,000
GEN MOTORS COM 370442105 2,212 60,000 SH DEFINED 01 60,000
GENERAL MLS 0.1 COM 370334104 2,817 60,000 SH DEFINED 01 60,000
GILLETTE CO 1 COM 375766102 3,522 116,000 SH DEFINED 01 116,000
GLBSANFE CORP COM G3930E101 890 36,600 SH DEFINED 01 36,600
GLD SACHS COM 38141G104 1,328 19,500 SH DEFINED 01 19,500
GOLDEN WEST 0.10 COM 381317106 1,077 15,000 SH DEFINED 01 15,000
GPO CARSO SPN.ADR ADR 400485207 475 100,000 SH DEFINED 01 100,000
GRAINGER 0.50 COM 384802104 1,031 20,000 SH DEFINED 01 20,000
GRUPO TELE SP GDR GDR 40049J206 1,257 45,000 SH DEFINED 01 45,000
GUIDNT CRP NPV COM 401698105 864 28,000 SH DEFINED 01 28,000
HARLEY DAVID 0.01 COM 412822108 1,871 40,500 SH DEFINED 01 40,500
HARRAHS ENT 0.10 COM 413619107 634 16,000 SH DEFINED 01 16,000
HARTFORD FINL USD COM 416515104 2,017 44,400 SH DEFINED 01 44,400
HCA INC COM 404119109 2,801 67,500 SH DEFINED 01 67,500
HEINZ(HJ) COM 423074103 1,479 45,000 SH DEFINED 01 45,000
HELL TELECOM ADS COM 423325307 148 27,778 SH DEFINED 01 27,778
HERSHEY FOODS 1 COM 427866108 674 10,000 SH DEFINED 01 10,000
HEWLETT-PKARD 0.01 COM 428236103 5,642 325,000 SH DEFINED 01 325,000
HILTON HOTELS 2.50 COM 432848109 636 50,000 SH DEFINED 01 50,000
HNYWELL INTL COM 438516106 2,040 85,000 SH DEFINED 01 85,000
HOME DEPOT 0.05 COM 437076102 6,230 260,000 SH DEFINED 01 260,000
HSEHLD INTL 1 COM 441815107 1,390 50,000 SH DEFINED 01 50,000
IBM COM 459200101 17,050 220,000 SH DEFINED 01 220,000
ILL TOOL NPV COM 452308109 3,081 47,500 SH DEFINED 01 47,500
INDIA FUND COM 454089103 3,279 309,637 SH DEFINED 01 309,637
INGRSL-RND'A' COM G4776G101 1,206 28,000 SH DEFINED 01 28,000
INT PAPER !1 COM 460146103 2,098 60,000 SH DEFINED 01 60,000
INTEL COM 458140100 12,456 800,000 SH DEFINED 01 800,000
INTERPUB 0.10 COM 460690100 282 20,000 SH DEFINED 01 20,000
IONA TECH ADR ADR 46206P109 185 65,000 SH DEFINED 01 65,000
ITT INDUST COM 450911102 1,214 20,000 SH DEFINED 01 20,000
J HANCOCK FIN SER COM 410145106 1,116 40,000 SH DEFINED 01 40,000
JANUS CAP GRP INC COM 860831106 261 20,000 SH DEFINED 01 20,000
JDS UNIPHASE CRP COM 46612J101 266 107,700 SH DEFINED 01 107,700
JOHNSN CNTL 0.1666 COM 478366107 1,603 20,000 SH DEFINED 01 20,000
JOHNSN&JOHNSN COM 478160104 17,971 334,600 SH DEFINED 01 334,600
JP MORGAN CHASE COM 46625H100 13,488 562,007 SH DEFINED 01 562,007
KELLOGG 0.25 COM 487836108 1,713 50,000 SH DEFINED 01 50,000
KERR-MCGEE 1 COM 492386107 1,329 30,000 SH DEFINED 01 30,000
KEYCORP 1 COM 493267108 1,320 52,500 SH DEFINED 01 52,500
KIMBERLY CLK ADR ADR 494368204 383 34,000 SH DEFINED 01 34,000
KIMBERLY-CL 1.25 COM 494368103 2,753 58,000 SH DEFINED 01 58,000
KLA TENCOR COM 482480100 955 27,000 SH DEFINED 01 27,000
KOHLS CORP COM 500255104 2,574 46,000 SH DEFINED 01 46,000
KRFT FDS INC'A' COM 50075N104 2,725 70,000 SH DEFINED 01 70,000
KROGER 1 COM 501044101 1,236 80,000 SH DEFINED 01 80,000
LEHMAN BROS 0.10 COM 524908100 1,599 30,000 SH DEFINED 01 30,000
LEXMARK INTL'A' COM 529771107 1,210 20,000 SH DEFINED 01 20,000
LILLY ELI COM 532457108 8,255 130,000 SH DEFINED 01 130,000
LINCOLN NATL COM 534187109 632 20,000 SH DEFINED 01 20,000
LINEAR TECH NPV COM 535678106 772 30,000 SH DEFINED 01 30,000
LOCK MARTIN COM 539830109 3,176 55,000 SH DEFINED 01 55,000
LOWE'S COS 0.50 COM 548661107 3,938 105,000 SH DEFINED 01 105,000
LSI LOGIC COM 502161102 202 35,000 SH DEFINED 01 35,000
LTD INC COM 532716107 697 50,000 SH DEFINED 01 50,000
M.B.N.A. 0.01 COM 55262L100 2,568 135,000 SH DEFINED 01 135,000
MANULIFE FINL CORP COM (ARCO) COM 56501R106 52,297 2,408,906 SH SOLE 2,408,906
MARATHON OIL COM 565849106 639 30,000 SH DEFINED 01 30,000
MARRIOTT INT'A' COM 571903202 1,315 40,000 SH DEFINED 01 40,000
MARSH&MCLN COM 571748102 3,697 80,000 SH DEFINED 01 80,000
MASCO CORPN 1 COM 574599106 1,684 80,000 SH DEFINED 01 80,000
MATAV RT ADS COM 576561104 890 50,000 SH DEFINED 01 50,000
MATTEL INC 1 COM 577081102 766 40,000 SH DEFINED 01 40,000
MAXIM INTER USD COM 57772K101 1,222 37,000 SH DEFINED 01 37,000
MBIA INC COM 55262C100 658 15,000 SH DEFINED 01 15,000
MCDONALD'S COM 580135101 2,332 145,000 SH DEFINED 01 145,000
MCGRAW HILL 1 COM 580645109 1,390 23,000 SH DEFINED 01 23,000
MCKESSON CORP COM 58155Q103 1,081 40,000 SH DEFINED 01 40,000
MEADWESTVACO COM 583334107 494 20,000 SH DEFINED 01 20,000
MEDIMMUNE COM 584699102 1,291 47,500 SH DEFINED 01 47,500
MEDTRONIC INC 0.10 COM 585055106 6,019 132,000 SH DEFINED 01 132,000
MELLON FINL COM 58551A108 1,162 44,500 SH DEFINED 01 44,500
MERANT COM 587336108 611 99,000 SH DEFINED 01 99,000
MERCK&CO NPV COM 589331107 14,719 260,000 SH DEFINED 01 260,000
MERRIL LYNCH COM 590188108 3,416 90,000 SH DEFINED 01 90,000
METLIFE INC COM 59156R108 1,893 70,000 SH DEFINED 01 70,000
MGN STN COM 617446448 4,790 120,000 SH DEFINED 01 120,000
MICRON TECH COM 595112103 877 90,000 SH DEFINED 01 90,000
MICROSOFT COM 594918104 32,054 620,000 SH DEFINED 01 620,000
MILLNUM PHARM COM 599902103 278 35,000 SH DEFINED 01 35,000
MOLEX COM 608554101 806 35,000 SH DEFINED 01 35,000
MOODYS COM 615369105 1,652 40,000 SH DEFINED 01 40,000
MOTOROLA COM 620076109 2,322 268,400 SH DEFINED 01 268,400
N.FORK BANC COM 659424105 1,198 35,500 SH DEFINED 01 35,500
NAT CITY CORP COM 635405103 1,776 65,000 SH DEFINED 01 65,000
NAT SEMICON 0.50 COM 637640103 300 20,000 SH DEFINED 01 20,000
NATUZZI ADR ADR 456478106 1,842 181,340 SH DEFINED 01 181,340
NEWELL RUBBERMAID COM 651229106 1,213 40,000 SH DEFINED 01 40,000
NEWMONT 1.60 COM 651639106 1,161 40,000 SH DEFINED 01 40,000
NEXTL COMM INC COM 65332V103 809 70,000 SH DEFINED 01 70,000
NIKE'B'NPV COM 654106103 1,112 25,000 SH DEFINED 01 25,000
NORFOLK S. 1 COM 655844108 1,000 50,000 SH DEFINED 01 50,000
NRTHN TST COM 665859104 894 25,500 SH DEFINED 01 25,500
NRTHROP GRUM COM 666807102 1,552 16,000 SH DEFINED 01 16,000
NY TIMES COM 650111107 1,601 35,000 SH DEFINED 01 35,000
OMNICOM!0.50 COM 681919106 1,718 26,600 SH DEFINED 01 26,600
ORACLE CP 0.01 COM 68389X105 7,452 690,000 SH DEFINED 01 690,000
ORBOTECH COM M75253100 860 62,500 SH DEFINED 01 62,500
PATTERSON UTI ENER COM 703481101 603 20,000 SH DEFINED 01 20,000
PAYCHEX COM 704326107 1,534 55,000 SH DEFINED 01 55,000
PEOPLESFT 0.01 COM 712713106 641 35,000 SH DEFINED 01 35,000
PEPSICO CAP STK COM 713448108 8,651 204,900 SH DEFINED 01 204,900
PER PERSER ADR144A ADR 715680104 2,207 205,300 SH DEFINED 01 205,300
PFIZER COM 717081103 20,635 675,000 SH DEFINED 01 675,000
PHLP MRS COS COM 718154107 10,132 250,000 SH DEFINED 01 250,000
PHMRMC CRPRTN COM 71713U102 6,736 161,150 SH DEFINED 01 161,150
PHOENIX COS INC NEW COM 71902E109 774 101,817 SH SOLE 101,817
PITNEY BOWES COM 724479100 1,143 35,000 SH DEFINED 01 35,000
PPG INDS 1 2/3 COM 693506107 1,003 20,000 SH DEFINED 01 20,000
PPL CP COM 69351T106 433 12,500 SH DEFINED 01 12,500
PRAXAIR 0.01 COM 74005P104 867 15,000 SH DEFINED 01 15,000
PRGRSS ENRGY COM 743263105 1,734 40,000 SH DEFINED 01 40,000
PRINCIPAL FINANCIAL GROUP IN COM 74251V102 312 10,354 SH SOLE 10,354
PRKM SFW GDR RGS GDR 743394207 563 35,000 SH DEFINED 01 35,000
PROCTR&GMBLE COM 742718109 13,063 152,000 SH DEFINED 01 152,000
PRUDENT FINANCIAL COM 744320102 635 20,000 SH DEFINED 01 20,000
PUBLIC SERV NPV COM 744573106 963 30,000 SH DEFINED 01 30,000
QUALCOMM COM 747525103 3,093 85,000 SH DEFINED 01 85,000
RADIOSHACK COM 750438103 375 20,000 SH DEFINED 01 20,000
RAYTHEON CO COM 755111507 1,230 40,000 SH DEFINED 01 40,000
RCHTR GEDN GDR'RS' GDR 368467304 4,716 72,000 SH DEFINED 01 72,000
RCKWLL CLLNS COM 774341101 698 30,000 SH DEFINED 01 30,000
ROC TAIWN SHS BEN COM 749651105 892 220,284 SH DEFINED 01 220,284
ROCKWELL AUTO COM 773903109 621 30,000 SH DEFINED 01 30,000
ROHM&HAAS COM 775371107 487 15,000 SH DEFINED 01 15,000
SAFEWAY INC 0.01 COM 786514208 1,051 45,000 SH DEFINED 01 45,000
SANMINA CORP COM 800907107 449 100,000 SH DEFINED 01 100,000
SARA LEE COM 803111103 2,589 115,000 SH DEFINED 01 115,000
SBC COMM 1 COM 78387G103 9,489 350,000 SH DEFINED 01 350,000
SCHERING-PLOUGH COM 806605101 3,485 157,000 SH DEFINED 01 157,000
SCHLMBGR!1 COM 806857108 2,104 50,000 SH DEFINED 01 50,000
SCHOLASTIC COM 807066AA3 180 5,000 SH DEFINED 01 5,000
SCHWAB CHARL 0.01 COM 808513105 1,411 130,000 SH DEFINED 01 130,000
SEARS ROE!0.75 COM 812387108 958 40,000 SH DEFINED 01 40,000
SIEBEL SYS 0.001 COM 826170102 449 60,000 SH DEFINED 01 60,000
SIGMA ALDRICH 1 COM 826552101 730 15,000 SH DEFINED 01 15,000
SIMON PROP COM 828806109 886 26,000 SH DEFINED 01 26,000
SLM CORP COM 78442P106 2,597 25,000 SH DEFINED 01 25,000
SOLECTRON 0.001 COM 834182107 453 127,550 SH DEFINED 01 127,550
SOUTHERN CO 5 COM 842587107 5,110 180,000 SH DEFINED 01 180,000
SPRINT CR(PCS GRP) COM 852061506 438 100,000 SH DEFINED 01 100,000
SPRINT 2.50 COM 852061100 1,014 70,000 SH DEFINED 01 70,000
SPX COM 784635104 318 8,500 SH DEFINED 01 8,500
ST PAUL COS NPV COM 792860108 1,702 50,000 SH DEFINED 01 50,000
STAPLES USD COM 855030102 1,281 70,000 SH DEFINED 01 70,000
STARWD HOTELS'B' COM 85590A203 688 29,000 SH DEFINED 01 29,000
STATE ST CP 1 COM 857477103 1,696 43,500 SH DEFINED 01 43,500
STET HELL TEL ADR ADR 859823106 420 57,737 SH DEFINED 01 57,737
STRYKER CORP 0.10 COM 863667101 1,007 15,000 SH DEFINED 01 15,000
SUN MICRO COM 866810104 1,213 390,000 SH DEFINED 01 390,000
SW AIR 1 COM 844741108 1,251 90,000 SH DEFINED 01 90,000
SYNOVUS FNCL COM 87161C105 679 35,000 SH DEFINED 01 35,000
SYSCO CORP 1 COM 871829107 2,136 71,700 SH DEFINED 01 71,700
TARGET CP COM 87612E106 3,420 114,000 SH DEFINED 01 114,000
TCF FINCL COM 872275102 874 20,000 SH DEFINED 01 20,000
TEFNDS MEX ADR ADR 879403707 4,286 135,000 SH DEFINED 01 135,000
TELE MEX ADS COM 879403780 720 22,500 SH DEFINED 01 22,500
TEMPLE-INLAND 1 COM 879868107 448 10,000 SH DEFINED 01 10,000
TENET HLTH COM 88033G103 902 55,000 SH DEFINED 01 55,000
TERADYNE COM 880770102 260 20,000 SH DEFINED 01 20,000
TEXAS INSTS 1 COM 882508104 3,302 220,000 SH DEFINED 01 220,000
TEXTRON INC 0.125 COM 883203101 1,290 30,000 SH DEFINED 01 30,000
THERASENSE INC COM 883381105 967 115,865 SH DEFINED 02 115,865
TJX CO!1 COM 872540109 1,366 70,000 SH DEFINED 01 70,000
TOYS R US(H)!0.10 COM 892335100 300 30,000 SH DEFINED 01 30,000
TRANSOCN INC COM G90078109 928 40,000 SH DEFINED 01 40,000
TRAV PROP CAS'B' COM 89420G406 1,744 119,037 SH DEFINED 01 119,037
TRIBUNE(DEL)NPV COM 896047107 1,818 40,000 SH DEFINED 01 40,000
TYCO INT LD COM 902124106 3,843 225,000 SH DEFINED 01 225,000
UNION PAC CORP COM 907818108 1,347 22,500 SH DEFINED 01 22,500
UNISYS CP!0.01 COM 909214108 297 30,000 SH DEFINED 01 30,000
UNITEDHEALTH GRP COM 910581107 4,175 50,000 SH DEFINED 01 50,000
UPS'B' COM 911312106 1,892 30,000 SH DEFINED 01 30,000
US BANCORP COM 917292104 4,244 200,000 SH DEFINED 01 200,000
UST INC(DEL) 0.50 COM 902911106 1,170 35,000 SH DEFINED 01 35,000
UTD TECH COM 913017109 4,646 75,000 SH DEFINED 01 75,000
VERITAS SFTWRE NPV COM 923436109 547 35,000 SH DEFINED 01 35,000
VERIZON COMM COM 92343V104 12,005 309,800 SH DEFINED 01 309,800
VIACOM N.VTG'B' COM 925524308 7,887 193,500 SH DEFINED 01 193,500
VISHAY INTERT 0.10 COM 928298108 727 65,000 SH DEFINED 01 65,000
VISTEON CP COM 92839U107 278 40,000 SH DEFINED 01 40,000
VIVND UNI ADR ADR 92851S204 180 11,200 SH DEFINED 01 11,200
W.DISNEY HDS DIS COM 254687106 3,425 210,000 SH DEFINED 01 210,000
WACHOVIA CRP USD COM 929903102 6,450 177,000 SH DEFINED 01 177,000
WAL MART STRS 0.10 COM 931142103 18,689 370,000 SH DEFINED 01 370,000
WALGREEN COM 931422109 3,497 119,800 SH DEFINED 01 119,800
WASH MUT COM 939322103 3,798 110,000 SH DEFINED 01 110,000
WASTE MGMT COM 94106L109 1,604 70,000 SH DEFINED 01 70,000
WELLS FARGO COM 949746101 9,374 200,000 SH DEFINED 01 200,000
WEYERHAEUSER 1.25 COM 962166104 2,420 49,168 SH DEFINED 01 49,168
WYETH COM 983024100 6,059 162,000 SH DEFINED 01 162,000
X1LINX 0.01 COM 983919101 618 30,000 SH DEFINED 01 30,000
YAHOO INC COM 984332106 818 50,000 SH DEFINED 01 50,000
ZIMMER HOLDINGS COM 98956P102 934 22,500 SH DEFINED 01 22,500
TOTAL 969,813