-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, DUxbRqXsCsO5gWhrQ5k6KbNYIqTwCOLOn2i7jrSXEENA3fuM9dsB/78ULOXtR9hY mJ/pFHLXagbMz2Wa/jw7bg== 0000909012-05-000381.txt : 20050510 0000909012-05-000381.hdr.sgml : 20050510 20050510105924 ACCESSION NUMBER: 0000909012-05-000381 CONFORMED SUBMISSION TYPE: 13F-HR PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20041231 FILED AS OF DATE: 20050510 DATE AS OF CHANGE: 20050510 EFFECTIVENESS DATE: 20050510 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Laffer Investments CENTRAL INDEX KEY: 0001307878 IRS NUMBER: 200536838 STATE OF INCORPORATION: TN FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 13F-HR SEC ACT: 1934 Act SEC FILE NUMBER: 028-10975 FILM NUMBER: 05814458 BUSINESS ADDRESS: STREET 1: 2908 POSTON AVENUE STREET 2: SUITE 101 CITY: NASHVILLE STATE: TN ZIP: 37203 BUSINESS PHONE: 6153203989 MAIL ADDRESS: STREET 1: 2908 POSTON AVENUE STREET 2: SUITE 101 CITY: NASHVILLE STATE: TN ZIP: 37203 13F-HR 1 t301809.txt LAFFER INVESTMENTS INC. 13F-HR FORM 13F HOLDINGS REPORT UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON DC 20549 FORM 13F FORM 13F COVER PAGE Report for the Calendar Year or Quarter Ended: December 31, 2004 Check here if Amendment [ ]; Amendment Number: This Amendment: [ ] is a restatement. [ ] adds new holdings entries. Institutional Investment Manager Filing this Report: Name: Laffer Investments, Inc. Address: 2908 Poston Avenue Suite 101 Nashville, TN 37203 Form 13F File Number: 28- 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: Arthur B. Laffer, Jr. Title: Chief Executive Officer Phone: 615-320-3989 Signature City State and Date of Signing: Arthur B. Laffer Nashville TN 03/10/05 - ------------------------- ----------------------- --------------- Signature City State Date Report Type: [X] 13F HOLDINGS REPORT [ ] 13F NOTICE [ ] 13F COMBINATION REPORT FORM 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 0 Form 13F Information Table Entry Total: -- Form 13F Information Table Value Total: $335,977,733.37 List of Other Included Managers: NONE
13F HOLDINGS REPORT INVESTMENT As of Date: 12/31/04 ISSUER TITLE OF CUSIP MKT SHARES/ DISCRETION OTHER VOTING AUTHORITY NAME CLASS NUMBER VAL PRINC AMT SOLE(A) SHARED MNGRS SOLE SHARED NONE 3M CO Common Stock 88579Y101 2,585,205.00 31,500 31,500 - ALL 31,500 0 0 ADC TELECOMMUNICATIO Common Stock 886101 154,780.72 57,754 57,754 - ALL 57,754 0 0 ADOBE SYS INC Common Stock 00724F101 2,948,027.12 46,988 46,988 - ALL 46,988 0 0 ADVANCED MICRO DEVIC Common Stock 7903107 274,038.90 12,445 12,445 - ALL 12,445 0 0 AFFILIATED COMPUTER Common Stock 8190100 156,494.00 2,600 2,600 - ALL 2,600 0 0 AGILENT TECHNOLOGIES Common Stock 00846U101 329,398.80 13,668 13,668 - ALL 13,668 0 0 ALTERA CORP Common Stock 21441100 242,376.30 11,709 11,709 - ALL 11,709 0 0 ALTRIA GROUP INC Common Stock 02209S103 1,399,190.00 22,900 22,900 - ALL 22,900 0 0 AMERICAN EXPRESS CO Common Stock 25816109 7,350,422.52 130,396 130,396 - ALL 130,396 0 0 AMERICAN INTL GROUP Common Stock 26874107 4,012,437.00 61,100 61,100 - ALL 61,100 0 0 AMSOUTH BANCORPORATI Common Stock 32165102 491,219.40 18,966 18,966 - ALL 18,966 0 0 ANALOG DEVICES INC Common Stock 32654105 380,202.16 10,298 10,298 - ALL 10,298 0 0 APPLE COMPUTER INC Common Stock 37833100 418,600.00 6,500 6,500 - ALL 6,500 0 0 APPLIED MATERIALS IN Common Stock 38222105 1,244,880.00 72,800 72,800 - ALL 72,800 0 0 APPLIED MICRO CIRCUI Common Stock 03822W109 127,272.51 30,231 30,231 - ALL 30,231 0 0 AUTODESK INC Common Stock 52769106 845,829.60 22,288 22,288 - ALL 22,288 0 0 AUTONATION INC Common Stock 05329W102 147,917.00 7,700 7,700 - ALL 7,700 0 0 AUTOZONE INC Common Stock 53332102 200,882.00 2,200 2,200 - ALL 2,200 0 0 AVERY DENNISON CORP Common Stock 53611109 551,724.00 9,200 9,200 - ALL 9,200 0 0 AVON PRODS INC Common Stock 54303102 1,528,650.00 39,500 39,500 - ALL 39,500 0 0 BANK AMER CORP Common Stock 60505104 4,591,815.81 97,719 97,719 - ALL 97,719 0 0 BANK NEW YORK INC Common Stock 64057102 347,568.00 10,400 10,400 - ALL 10,400 0 0 BAUSCH & LOMB INC Common Stock 71707103 676,830.00 10,500 10,500 - ALL 10,500 0 0 BB&T CORP Common Stock 54937107 208,736.20 4,964 4,964 - ALL 4,964 0 0 BEAR STEARNS COS INC Common Stock 73902108 1,943,890.00 19,000 19,000 - ALL 19,000 0 0 BED BATH & BEYOND IN Common Stock 75896100 262,878.00 6,600 6,600 - ALL 6,600 0 0 BMC SOFTWARE INC Common Stock 55921100 202,944.60 10,911 10,911 - ALL 10,911 0 0 BROADCOM CORP Common Stock 111320107 285,322.92 8,839 8,839 - ALL 8,839 0 0 BROWN FORMAN DST 'B' Common Stock 115637209 336,184.08 6,906 6,906 - ALL 6,906 0 0 BRUNSWICK CORP Common Stock 117043109 1,405,800.00 28,400 28,400 - ALL 28,400 0 0 CAPITAL ONE FINL COR Common Stock 14040H105 3,081,580.74 36,594 36,594 - ALL 36,594 0 0 CARNIVAL CORP Common Stock 143658300 4,755,973.38 82,526 82,526 - ALL 82,526 0 0 CENTEX CORP Common Stock 152312104 190,656.00 3,200 3,200 - ALL 3,200 0 0 CIENA CORP Common Stock 171779101 143,072.24 42,836 42,836 - ALL 42,836 0 0 CIRCUIT CITY STORE I Common Stock 172737108 74,149.24 4,741 4,741 - ALL 4,741 0 0 CISCO SYS INC Common Stock 17275R102 2,792,574.90 144,693 144,693 - ALL 144,693 0 0 CITIGROUP INC Common Stock 172967101 5,776,782.00 119,900 119,900 - ALL 119,900 0 0 CITRIX SYS INC Common Stock 177376100 374,793.87 15,279 15,279 - ALL 15,279 0 0 COCA COLA CO Common Stock 191216100 824,773.56 19,812 19,812 - ALL 19,812 0 0 COCA COLA ENTERPRISE Common Stock 191219104 1,761,074.40 84,464 84,464 - ALL 84,464 0 0 COMERICA INC Common Stock 200340107 225,774.00 3,700 3,700 - ALL 3,700 0 0 COMPUTER ASSOC INTL Common Stock 204912109 2,230,387.54 71,809 71,809 - ALL 71,809 0 0 COMPUTER SCIENCES CO Common Stock 205363104 306,821.91 5,443 5,443 - ALL 5,443 0 0 COMPUWARE CORP Common Stock 205638109 307,907.30 47,590 47,590 - ALL 47,590 0 0 COMVERSE TECHNOLOGY Common Stock 205862402 85,281.60 3,488 3,488 - ALL 3,488 0 0 COOPER INDS LTD Common Stock G24182100 1,886,527.32 27,788 27,788 - ALL 27,788 0 0 COORS ADOLPH CO Common Stock 217016104 64,168.16 848 848 - ALL 848 0 0 COUNTRYWIDE FIN CORP Common Stock 222372104 1,053,822.74 28,474 28,474 - ALL 28,474 0 0 CRANE CO Common Stock 224399105 1,067,080.00 37,000 37,000 - ALL 37,000 0 0 DANAHER CORP Common Stock 235851102 2,267,695.00 39,500 39,500 - ALL 39,500 0 0 DARDEN RESTAURANTS I Common Stock 237194105 124,830.00 4,500 4,500 - ALL 4,500 0 0 DELL INC Common Stock 24702R101 2,484,195.14 58,951 58,951 - ALL 58,951 0 0 DISNEY WALT PRODTNS Common Stock 254687106 1,003,580.00 36,100 36,100 - ALL 36,100 0 0 DOLLAR GEN CORP Common Stock 256669102 328,166.00 15,800 15,800 - ALL 15,800 0 0 DOVER CORP Common Stock 260003108 1,568,556.00 37,400 37,400 - ALL 37,400 0 0 E-TRADE FINL GRP Common Stock 269246104 269,593.35 18,033 18,033 - ALL 18,033 0 0 EATON CORP Common Stock 278058102 2,112,912.00 29,200 29,200 - ALL 29,200 0 0 EBAY INC Common Stock 278642103 3,579,912.36 30,787 30,787 - ALL 30,787 0 0 ELECTRONIC ARTS Common Stock 285512109 1,979,928.00 32,100 32,100 - ALL 32,100 0 0 EQUITY RESIDENTIAL P Common Stock 29476L107 1,595,538.00 44,100 44,100 - ALL 44,100 0 0 FANNIE MAE Common Stock 313586109 4,044,728.00 56,800 56,800 - ALL 56,800 0 0 FEDERATED INVS INC P Common Stock 314211103 69,920.00 2,300 2,300 - ALL 2,300 0 0 FEDEX CORP Common Stock 31428X106 551,544.00 5,600 5,600 - ALL 5,600 0 0 FIRST DATA CORP Common Stock 319963104 1,225,152.00 28,800 28,800 - ALL 28,800 0 0 FIRST HORIZON NATL C Common Stock 320517105 1,185,999.21 27,511 27,511 - ALL 27,511 0 0 FRANKLIN RES INC Common Stock 354613101 3,105,275.60 44,584 44,584 - ALL 44,584 0 0 FREDDIE MAC Common Stock 313400301 4,812,610.00 65,300 65,300 - ALL 65,300 0 0 FREEPORT-MCMORAN COP Common Stock 35671D857 380,885.49 9,963 9,963 - ALL 9,963 0 0 FREESCALE SEMICONDUC Common Stock 35687M206 528,988.31 28,812 28,812 - ALL 28,812 0 0 GAP INC Common Stock 364760108 1,580,325.12 74,826 74,826 - ALL 74,826 0 0 GENERAL ELEC CO Common Stock 369604103 219,000.00 6,000 6,000 - ALL 6,000 0 0 GENUINE PARTS CO Common Stock 372460105 2,002,306.70 45,445 45,445 - ALL 45,445 0 0 GILEAD SCIENCES INC Common Stock 375558103 262,425.00 7,500 7,500 - ALL 7,500 0 0 GOLDEN WEST FINL DEL Common Stock 381317106 978,666.28 15,934 15,934 - ALL 15,934 0 0 GOLDMAN SACHS GROUP Common Stock 38141G104 322,524.00 3,100 3,100 - ALL 3,100 0 0 GUIDANT CORP Common Stock 401698105 403,760.00 5,600 5,600 - ALL 5,600 0 0 HALLIBURTON CO Common Stock 406216101 2,099,340.00 53,500 53,500 - ALL 53,500 0 0 HARLEY DAVIDSON INC Common Stock 412822108 1,937,925.00 31,900 31,900 - ALL 31,900 0 0 HARTFORD FINL SVCS G Common Stock 416515104 1,829,784.00 26,400 26,400 - ALL 26,400 0 0 HCA INC. Common Stock 404119109 683,316.00 17,100 17,100 - ALL 17,100 0 0 HEALTH MGMT ASSOC IN Common Stock 421933102 281,728.00 12,400 12,400 - ALL 12,400 0 0 HILTON HOTELS CORP Common Stock 432848109 389,240.58 17,117 17,117 - ALL 17,117 0 0 HOME DEPOT INC Common Stock 437076102 10,138,440.88 237,212 237,212 - ALL 237,212 0 0 HUNTINGTON BANCSHARE Common Stock 446150104 1,305,906.00 52,700 52,700 - ALL 52,700 0 0 ILLINOIS TOOL WKS IN Common Stock 452308109 1,306,788.00 14,100 14,100 - ALL 14,100 0 0 INGERSOLL-RAND COMPA Common Stock G4776G101 2,765,612.30 34,441 34,441 - ALL 34,441 0 0 INTEL CORP Common Stock 458140100 9,171,780.36 392,124 392,124 - ALL 392,124 0 0 INTL BUSINESS MCHN Common Stock 459200101 4,712,124.00 47,800 47,800 - ALL 47,800 0 0 INTUIT Common Stock 461202103 486,486.54 11,054 11,054 - ALL 11,054 0 0 IS MSCI EMU Common Stock 464286608 8,728,800.00 120,000 120,000 - ALL 120,000 0 0 IS MSCI JAPAN Common Stock 464286848 9,505,860.00 870,500 870,500 - ALL 870,500 0 0 IS S&P500 Common Stock 464287200 7,344,700.00 60,700 60,700 - ALL 60,700 0 0 ITT INDS INC IND Common Stock 450911102 118,230.00 1,400 1,400 - ALL 1,400 0 0 J P MORGAN CHASE & C Common Stock 46625H100 7,502,091.12 192,312 192,312 - ALL 192,312 0 0 JABIL CIRCUIT INC Common Stock 466313103 187,910.68 7,346 7,346 - ALL 7,346 0 0 JANUS CAP GROUP INC Common Stock 47102X105 277,650.77 16,517 16,517 - ALL 16,517 0 0 JDS UNIPHASE CORP Common Stock 46612J101 167,797.61 52,933 52,933 - ALL 52,933 0 0 KEYCORP Common Stock 493267108 1,606,860.00 47,400 47,400 - ALL 47,400 0 0 KLA-TENCOR CORP Common Stock 482480100 484,432.00 10,400 10,400 - ALL 10,400 0 0 LEHMAN BROS HLDGS IN Common Stock 524908100 2,878,092.00 32,900 32,900 - ALL 32,900 0 0 LEXMARK INTL INC. Common Stock 529771107 315,180.00 3,708 3,708 - ALL 3,708 0 0 LIMITED BRANDS INC Common Stock 532716107 329,186.00 14,300 14,300 - ALL 14,300 0 0 LINEAR TECHNOLOGY CO Common Stock 535678106 2,253,506.40 58,140 58,140 - ALL 58,140 0 0 LIZ CLAIBORNE Common Stock 539320101 1,304,289.00 30,900 30,900 - ALL 30,900 0 0 LOWES COS INC Common Stock 548661107 5,576,324.52 96,828 96,828 - ALL 96,828 0 0 LSI LOGIC CORP Common Stock 502161102 133,048.92 24,279 24,279 - ALL 24,279 0 0 LUCENT TECHNOLOGIES Common Stock 549463107 432,298.48 114,973 114,973 - ALL 114,973 0 0 MANOR CARE INC NEW Common Stock 564055101 187,779.00 5,300 5,300 - ALL 5,300 0 0 MARRIOTT INTL INC NE Common Stock 571903202 1,996,466.00 31,700 31,700 - ALL 31,700 0 0 MARSHALL & ILSLEY CO Common Stock 571834100 2,173,579.20 49,176 49,176 - ALL 49,176 0 0 MAXIM INTEGRATED PRO Common Stock 57772K101 671,076.09 15,831 15,831 - ALL 15,831 0 0 MBNA CORP Common Stock 55262L100 2,455,349.00 87,100 87,100 - ALL 87,100 0 0 MCDONALDS CORP Common Stock 580135101 686,084.00 21,400 21,400 - ALL 21,400 0 0 MELLON FINL CORP Common Stock 58551A108 1,683,051.00 54,100 54,100 - ALL 54,100 0 0 MERCURY INTERACTIVE Common Stock 589405109 387,266.10 8,502 8,502 - ALL 8,502 0 0 MERRILL LYNCH & CO Common Stock 590188108 4,148,038.00 69,400 69,400 - ALL 69,400 0 0 MGIC INVT CORP WIS Common Stock 552848103 241,185.00 3,500 3,500 - ALL 3,500 0 0 MICROSOFT CORP Common Stock 594918104 5,087,026.34 190,454 190,454 - ALL 190,454 0 0 MILLIPORE CORP Common Stock 601073109 612,663.00 12,300 12,300 - ALL 12,300 0 0 MOLEX INC Common Stock 608554101 1,272,000.00 42,400 42,400 - ALL 42,400 0 0 MOODYS CORP Common Stock 615369105 3,343,725.00 38,500 38,500 - ALL 38,500 0 0 MORGAN STANLEY Common Stock 617446448 4,325,008.00 77,900 77,900 - ALL 77,900 0 0 MOTOROLA INC Common Stock 620076109 4,502,409.60 261,768 261,768 - ALL 261,768 0 0 NATIONAL SEMICONDUCT Common Stock 637640103 228,521.45 12,731 12,731 - ALL 12,731 0 0 NETWORK APPLIANCE IN Common Stock 64120L104 229,218.00 6,900 6,900 - ALL 6,900 0 0 NEXTEL COMMUNICATION Common Stock 65332V103 825,540.00 27,518 27,518 - ALL 27,518 0 0 NIKE INC Common Stock 654106103 3,183,219.00 35,100 35,100 - ALL 35,100 0 0 NORDSTROM INC Common Stock 655664100 191,593.00 4,100 4,100 - ALL 4,100 0 0 NORTHERN TR CORP Common Stock 665859104 1,651,720.00 34,000 34,000 - ALL 34,000 0 0 NOVELL INC Common Stock 670006105 143,788.50 21,302 21,302 - ALL 21,302 0 0 NOVELLUS SYS INC Common Stock 670008101 170,129.00 6,100 6,100 - ALL 6,100 0 0 NVIDIA CORP Common Stock 67066G104 214,537.36 9,106 9,106 - ALL 9,106 0 0 OFFICE DEPOT INC Common Stock 676220106 161,448.00 9,300 9,300 - ALL 9,300 0 0 OFFICEMAX INC DEL Common Stock 67622P101 100,416.00 3,200 3,200 - ALL 3,200 0 0 ORACLE SYSTEMS CORP Common Stock 68389X105 1,919,908.20 139,935 139,935 - ALL 139,935 0 0 PALL CORP Common Stock 696429307 1,438,815.00 49,700 49,700 - ALL 49,700 0 0 PARAMETRIC TECHNOLOG Common Stock 699173100 253,364.24 43,016 43,016 - ALL 43,016 0 0 PARKER HANNIFIN CORP Common Stock 701094104 136,332.00 1,800 1,800 - ALL 1,800 0 0 PEOPLESOFT INC Common Stock 712713106 288,632.00 10,900 10,900 - ALL 10,900 0 0 PERKINELMER INC Common Stock 714046109 1,272,934.00 56,600 56,600 - ALL 56,600 0 0 PHELPS DODGE CORP Common Stock 717265102 294,682.68 2,979 2,979 - ALL 2,979 0 0 PITNEY BOWES INC Common Stock 724479100 800,644.00 17,300 17,300 - ALL 17,300 0 0 PMC-SIERRA INC Common Stock 69344F106 130,050.00 11,560 11,560 - ALL 11,560 0 0 PPG INDS INC Common Stock 693506107 125,550.72 1,842 1,842 - ALL 1,842 0 0 PRINCIPAL FINANCIAL Common Stock 74251V102 697,290.08 17,032 17,032 - ALL 17,032 0 0 PROLOGIS TR Common Stock 743410102 474,376.84 10,948 10,948 - ALL 10,948 0 0 PROVIDIAN FINL CORP Common Stock 74406A102 1,427,949.00 86,700 86,700 - ALL 86,700 0 0 QLOGIC CORP Common Stock 747277101 184,384.60 5,020 5,020 - ALL 5,020 0 0 QUALCOMM INC Common Stock 747525103 2,779,447.20 65,553 65,553 - ALL 65,553 0 0 RADIOSHACK CORP Common Stock 750438103 1,476,312.00 44,900 44,900 - ALL 44,900 0 0 RAYTHEON CO Common Stock 755111507 163,280.15 4,205 4,205 - ALL 4,205 0 0 REGIONS FINL CORP Common Stock 7591EP100 788,104.97 22,144 22,144 - ALL 22,144 0 0 REYNOLDS AMERICAN IN Common Stock 761713106 1,777,539.00 22,615 22,615 - ALL 22,615 0 0 ROCKWELL AUTOMATION Common Stock 773903109 522,950.70 10,554 10,554 - ALL 10,554 0 0 ROCKWELL COLLINS INC Common Stock 774341101 323,408.00 8,200 8,200 - ALL 8,200 0 0 RYDER SYS INC Common Stock 783549108 266,078.90 5,570 5,570 - ALL 5,570 0 0 S&P500 SPRD Common Stock 78462F103 22,554,342.00 186,600 186,600 - ALL 186,600 0 0 SABRE GROUP HLDGS IN Common Stock 785905100 110,800.00 5,000 5,000 - ALL 5,000 0 0 SANMINA SCI CORP Common Stock 800907107 171,381.98 20,234 20,234 - ALL 20,234 0 0 SCHWAB CHARLES CP NE Common Stock 808513105 2,856,119.76 238,806 238,806 - ALL 238,806 0 0 SCIENTIFIC ATLANTA Common Stock 808655104 1,619,701.67 49,067 49,067 - ALL 49,067 0 0 SEMPRA ENERGY Common Stock 816851109 161,392.00 4,400 4,400 - ALL 4,400 0 0 SHERWIN WILLIAMS CO Common Stock 824348106 1,530,809.00 34,300 34,300 - ALL 34,300 0 0 SIEBEL SYS INC Common Stock 826170102 363,300.00 34,600 34,600 - ALL 34,600 0 0 SIMON PPTY GROUP INC Common Stock 828806109 2,623,338.55 40,565 40,565 - ALL 40,565 0 0 SLM CORP Common Stock 78442P106 1,035,232.10 19,390 19,390 - ALL 19,390 0 0 SOLECTRON CORP Common Stock 834182107 177,552.96 33,312 33,312 - ALL 33,312 0 0 SOUTHWEST AIRLS CO Common Stock 844741108 1,728,936.00 106,200 106,200 - ALL 106,200 0 0 SOVEREIGN BANCORP IN Common Stock 845905108 60,885.00 2,700 2,700 - ALL 2,700 0 0 STAPLES INC Common Stock 855030102 333,729.00 9,900 9,900 - ALL 9,900 0 0 STARBUCKS CORP Common Stock 855244109 455,228.00 7,300 7,300 - ALL 7,300 0 0 STARWOOD HOTELS&RESO Common Stock 85590A203 1,997,280.00 34,200 34,200 - ALL 34,200 0 0 STATE STR CORP Common Stock 857477103 2,033,568.00 41,400 41,400 - ALL 41,400 0 0 SUNTRUST BKS INC Common Stock 867914103 966,867.56 13,087 13,087 - ALL 13,087 0 0 SYMANTEC CORP Common Stock 871503108 475,581.12 18,462 18,462 - ALL 18,462 0 0 SYMBOL TECHNOLOGIES Common Stock 871508107 1,506,830.00 87,100 87,100 - ALL 87,100 0 0 T.ROWE PRICE GROUP I Common Stock 74144T108 2,152,368.80 34,604 34,604 - ALL 34,604 0 0 TEKTRONIX INC Common Stock 879131100 178,239.00 5,900 5,900 - ALL 5,900 0 0 TELLABS INC Common Stock 879664100 153,383.04 17,856 17,856 - ALL 17,856 0 0 TEMPLE INLAND INC Common Stock 879868107 1,251,720.00 18,300 18,300 - ALL 18,300 0 0 TENET HEALTHCARE COR Common Stock 88033G100 276,696.00 25,200 25,200 - ALL 25,200 0 0 TERADYNE INC Common Stock 880770102 182,649.00 10,700 10,700 - ALL 10,700 0 0 TEXAS INSTRS INC Common Stock 882508104 4,808,926.12 195,326 195,326 - ALL 195,326 0 0 TEXTRON INC Common Stock 883203101 1,859,760.00 25,200 25,200 - ALL 25,200 0 0 THOMAS & BETTS CORP Common Stock 884315102 1,217,761.50 39,602 39,602 - ALL 39,602 0 0 TIFFANY & CO NEW Common Stock 886547108 143,865.00 4,500 4,500 - ALL 4,500 0 0 TJX COS INC NEW Common Stock 872540109 716,205.00 28,500 28,500 - ALL 28,500 0 0 TOYS R US Common Stock 892335100 126,914.00 6,200 6,200 - ALL 6,200 0 0 TYCO INTL LTD NEW Common Stock 902124106 5,257,354.00 147,100 147,100 - ALL 147,100 0 0 UNISYS CORP Common Stock 909214108 1,376,590.50 135,225 135,225 - ALL 135,225 0 0 US BANCORP DEL Common Stock 902973304 2,411,013.60 76,980 76,980 - ALL 76,980 0 0 UST INC Common Stock 902911106 110,653.00 2,300 2,300 - ALL 2,300 0 0 V F CORP Common Stock 918204108 1,711,629.66 30,907 30,907 - ALL 30,907 0 0 VERITAS SOFTWARE CO Common Stock 923436109 440,983.30 15,446 15,446 - ALL 15,446 0 0 VULCAN MATLS CO Common Stock 929160109 1,490,853.00 27,300 27,300 - ALL 27,300 0 0 WACHOVIA CORP 2ND NE Common Stock 929903102 5,893,830.00 112,050 112,050 - ALL 112,050 0 0 WASHINGTON MUT INC Common Stock 939322103 1,825,058.48 43,166 43,166 - ALL 43,166 0 0 WATERS CORP Common Stock 941848103 79,917.32 1,708 1,708 - ALL 1,708 0 0 WELLS FARGO & CO NEW Common Stock 949746101 9,213,986.10 148,254 148,254 - ALL 148,254 0 0 WENDYS INTL INC Common Stock 950590109 117,780.00 3,000 3,000 - ALL 3,000 0 0 XILINX INC Common Stock 983919101 304,742.70 10,278 10,278 - ALL 10,278 0 0 YAHOO INC Common Stock 984332106 2,859,233.76 75,882 75,882 - ALL 75,882 0 0 YUM BRANDS INC Common Stock 988498101 495,390.00 10,500 10,500 - ALL 10,500 0 0 ZIONS BANCORP Common Stock 989701107 244,023.61 3,587 3,587 - ALL 3,587 0 0 335,977,733.37
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