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, 2003
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 09 Feb 2004
--------------- ----------------- ------------------
[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: 1
-----------
Form 13F Information Table Entry Total: 363
-----------
Form 13F Information Table Value Total: $ 1,098,764
-----------
(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
BP P.L.C.
FORM 13F INFORMATION TABLE
DECEMBER 31, 2003
TITLE MARKET VOTING AUTHORITY
OF VALUE SHARES SH/ INVESTMENT ---------------------------------
ISSUER CLASS CUSIP (USD 000) /PRN AMT PRN DISCRETION MANAGERS SOLE SHARED NONE
1ST DATA CPUSD0.01 COM 319963104 4,520 110,000 SH DEFINED 01 110,000
3COM CORP COM 885535104 327 40,000 SH DEFINED 01 40,000
3M COM 88579Y101 7,228 85,000 SH DEFINED 01 85,000
5TH 3RD BANCO NPV COM 316773100 4,078 69,000 SH DEFINED 01 69,000
ABBOTT LABS COM 002824100 7,689 165,000 SH DEFINED 01 165,000
ADOBE SYSTEMS COM 00724F101 1,179 30,000 SH DEFINED 01 30,000
AETNA NEW COM 00817Y108 1,561 23,100 SH DEFINED 01 23,100
AFLAC COM 001055102 2,533 70,000 SH DEFINED 01 70,000
AIR PROD&CHEM COM 009158106 1,321 25,000 SH DEFINED 01 25,000
ALBERTSON'S COM 013104104 793 35,000 SH DEFINED 01 35,000
ALCOA INC COM 013817101 3,990 105,000 SH DEFINED 01 105,000
ALLOS THERAPEUTICS COM COM 019777101 159 44,172 SH SOLE 44,172
ALLSTATE CORP COM 020002101 3,657 85,000 SH DEFINED 01 85,000
ALLTEL COM 020039103 1,537 33,000 SH DEFINED 01 33,000
ALTERA CP COM 021441100 908 40,000 SH DEFINED 01 40,000
ALTRIA GRP INC COM 02209S103 11,700 215,000 SH DEFINED 01 215,000
AMAZON COM COM 023135106 2,106 40,000 SH DEFINED 01 40,000
AMBAC FIN COM 023139108 694 10,000 SH DEFINED 01 10,000
AMDOCS COM G02602103 562 25,000 SH DEFINED 01 25,000
AMER ELEC COM 025537101 1,220 40,000 SH DEFINED 01 40,000
AMER INT GRP COM 026874107 19,553 295,000 SH DEFINED 01 295,000
AMER MOV ADR20 ADR 02364W105 2,700 100,000 SH DEFINED 01 100,000
AMER MOV ADR20 ADR 02364W204 1,722 63,000 SH DEFINED 01 63,000
AMER POWER COM 029066107 489 20,000 SH DEFINED 01 20,000
AMEREN CRP COM 023608102 1,610 35,000 SH DEFINED 01 35,000
AMERICAN EXPRESS COM 025816109 6,873 142,500 SH DEFINED 01 142,500
AMGEN COM 031162100 9,764 158,000 SH DEFINED 01 158,000
AMSOUTH BANCORP COM 032165102 858 35,000 SH DEFINED 01 35,000
ANADARKO PET COM 032511107 1,530 30,000 SH DEFINED 01 30,000
ANALOG DEVICES COM 032654105 1,826 40,000 SH DEFINED 01 40,000
ANHEUSER BUSCH COM 035229103 5,527 104,920 SH DEFINED 01 104,920
ANTHEM INC COM 03674B104 1,125 15,000 SH DEFINED 01 15,000
APACHE CP COM 037411105 1,703 21,000 SH DEFINED 01 21,000
APOLLO GP'A'NPV COM 037604105 884 13,000 SH DEFINED 01 13,000
APP MATERIAL COM 038222105 4,445 198,000 SH DEFINED 01 198,000
APPLE COM NPV COM 037833100 855 40,000 SH DEFINED 01 40,000
APPLERA BIOSYS COM 038020103 414 20,000 SH DEFINED 01 20,000
ARAC CEL ADR B PRF ADR 038496204 498 14,200 SH DEFINED 01 14,200
ARGLNT TECH COM 00846U101 1,462 50,000 SH DEFINED 01 50,000
AT&T CORP COM 001957505 1,683 82,909 SH DEFINED 01 82,909
AT&T WIRELESS COM 00209A106 2,157 270,000 SH DEFINED 01 270,000
AUTO DATA$0.10 COM 053015103 3,208 81,000 SH DEFINED 01 81,000
AVON PRODS COM 054303102 2,025 30,000 SH DEFINED 01 30,000
BAKBONE SOFTWARE COM 057101107 297 107,949 SH SOLE 107,949
BAKER HUGHES$1 COM 057224107 1,206 37,500 SH DEFINED 01 37,500
BANK ONE CP COM 06423A103 5,471 120,000 SH DEFINED 01 120,000
BAXTER INTL COM 071813109 2,014 66,000 SH DEFINED 01 66,000
BB&T CP USD5 COM 054937107 1,932 50,000 SH DEFINED 01 50,000
BEA SYSTEM$0.001 COM 073325102 830 67,500 SH DEFINED 01 67,500
BECT DICKIN USD1 COM 075887109 1,029 25,000 SH DEFINED 01 25,000
BED BATH&BYND$0.01 COM 075896100 1,084 25,000 SH DEFINED 01 25,000
BELLSOUTH COM 079860102 5,519 195,000 SH DEFINED 01 195,000
BERKSHIRE HATH'A' COM 084670108 8,846 105 SH DEFINED 01 105
BEST BUY!0.10 COM 086516101 1,959 37,500 SH DEFINED 01 37,500
BK NEWYORK$7.50 COM 064057102 3,146 95,000 SH DEFINED 01 95,000
BK OF AMER(TOK) COM 060505104 15,282 190,000 SH DEFINED 01 190,000
BLACOMDECKER COM 091797100 1,480 30,000 SH DEFINED 01 30,000
BLOCK(H&R)NPV COM 093671105 997 18,000 SH DEFINED 01 18,000
BMC SOFTWARE COM 055921100 466 25,000 SH DEFINED 01 25,000
BOEING COM 097023105 3,708 88,000 SH DEFINED 01 88,000
BOSTON SCIEN $0.01 COM 101137107 2,426 66,000 SH DEFINED 01 66,000
BRLNGTN RES USD.01 COM 122014103 1,661 30,000 SH DEFINED 01 30,000
BROADCOM COM 111320107 716 21,000 SH DEFINED 01 21,000
BRSTL-MYER SQ!0.10 COM 110122108 5,560 194,400 SH DEFINED 01 194,400
BURLNGTON NTH SAN COM 12189T104 1,229 38,000 SH DEFINED 01 38,000
CAP1 FINL COM 14040H105 919 15,000 SH DEFINED 01 15,000
CARDINAL HLTH NPV COM 14149Y108 2,752 45,000 SH DEFINED 01 45,000
CARSO GBL SPN.ADR ADR 14574P107 448 160,000 SH DEFINED 01 160,000
CATERPILLAR COM 149123101 3,694 44,500 SH DEFINED 01 44,500
CEMX ADR 5 CPO ADR 151290889 4,151 158,450 SH DEFINED 01 158,450
CENDANT$0.01 COM 151313103 3,118 140,000 SH DEFINED 01 140,000
CERIDIAN COM 15677T106 628 30,000 SH DEFINED 01 30,000
CHEVRONTEXACO COM 166751107 10,803 125,050 SH DEFINED 01 125,050
CHUBB CORP!1 COM 171232101 1,022 15,000 SH DEFINED 01 15,000
CIA BEBDS ADR ADR 20441W203 383 15,000 SH DEFINED 01 15,000
CIENA CP$0.01 COM 171779101 332 50,000 SH DEFINED 01 50,000
CIGNA CP COM 125509109 978 17,000 SH DEFINED 01 17,000
CINERGY$0.01 COM 172474108 854 22,000 SH DEFINED 01 22,000
CISCO SYSTEMS COM 17275R102 17,003 700,000 SH DEFINED 01 700,000
CITIGROUP USD0.01 COM 172967101 28,380 584,669 SH DEFINED 01 584,669
CLEAR CHANNL COM 184502102 2,810 60,000 SH DEFINED 01 60,000
CNTRPNT ENRGY COM 19041P105 494 51,000 SH DEFINED 01 51,000
COCA COLA!0.25 COM 191216100 12,434 245,000 SH DEFINED 01 245,000
COCA-COLA ENT$1 COM 191219104 875 40,000 SH DEFINED 01 40,000
COLGATE-PALMOLIVE COM 194162103 3,153 63,000 SH DEFINED 01 63,000
COMCAST CORP(NEW) COM 20030N200 4,379 140,000 SH DEFINED 01 140,000
COMCAST'A' COM 20030N101 3,943 119,955 SH DEFINED 01 119,955
COMERCIA INC COM 200340107 1,233 22,000 SH DEFINED 01 22,000
COMP ASOC INT COM 204912109 1,394 51,000 SH DEFINED 01 51,000
COMP BAN COM 20449H109 590 15,000 SH DEFINED 01 15,000
COMP SCIENCES$1 COM 205363104 885 20,000 SH DEFINED 01 20,000
COMVERSE TEC COM 205862402 528 30,000 SH DEFINED 01 30,000
CONOCOPHILLIPS COM 20825C104 5,252 80,100 SH DEFINED 01 80,100
CONSL EDISON!0.10 COM 209115104 860 20,000 SH DEFINED 01 20,000
CORNING$0.50 COM 219350105 1,408 135,000 SH DEFINED 01 135,000
COSTCO WHLESLE COM 22160K105 1,859 50,000 SH DEFINED 01 50,000
COUNTRYWIDE CDT COM 222372104 1,517 20,000 SH DEFINED 01 20,000
COX COMM'A'$1 COM 224044107 1,034 30,000 SH DEFINED 01 30,000
CRNVL CORP COM 143658300 2,582 65,000 SH DEFINED 01 65,000
CSX CORP COM 126408103 1,222 34,000 SH DEFINED 01 34,000
CVS CORP COM 126650100 1,806 50,000 SH DEFINED 01 50,000
DANAHER 0.01 COM 235851102 1,193 13,000 SH DEFINED 01 13,000
DARDEN RESTCSN COM 237194105 421 20,000 SH DEFINED 01 20,000
DEERE&CO COM 244199105 1,724 26,500 SH DEFINED 01 26,500
DELL COM 247025109 9,764 287,500 SH DEFINED 01 287,500
DELPHI COM 247126105 613 60,000 SH DEFINED 01 60,000
DEVON ENERGY COM 25179M103 2,434 42,500 SH DEFINED 01 42,500
DOLLAR GEN!0.50 COM 256669102 971 46,250 SH DEFINED 01 46,250
DOMINION RES(VIRG) COM 257470104 2,362 37,000 SH DEFINED 01 37,000
DOVER CORP!1 COM 260003108 795 20,000 SH DEFINED 01 20,000
DOW CHEM COM 260543103 4,431 106,600 SH DEFINED 01 106,600
DSL.NET INC COM 262506108 328 546,486 SH SOLE 546,486
DTE ENRGY COM 233331107 749 19,000 SH DEFINED 01 19,000
DU PONT COM 263534109 5,277 115,000 SH DEFINED 01 115,000
DUKE ENGY NPV COM 264399106 2,761 135,000 SH DEFINED 01 135,000
EATON CORP COM 278058102 1,296 12,000 SH DEFINED 01 12,000
EBAY IUSD0.01 COM 278642103 2,971 46,000 SH DEFINED 01 46,000
ECOLAB $1 COM 278865100 1,095 40,000 SH DEFINED 01 40,000
EL PASO CP COM 28368B102 655 80,000 SH DEFINED 01 80,000
ELE DTA SYS$0.01 COM 285661104 1,350 55,000 SH DEFINED 01 55,000
ELEC ARTS COM 285512109 1,433 30,000 SH DEFINED 01 30,000
EMC MASS USD0.01 COM 268648102 3,101 240,000 SH DEFINED 01 240,000
EMERSON ELEC$1 COM 291011104 2,914 45,000 SH DEFINED 01 45,000
ENGELHARD CP COM 292845104 899 30,000 SH DEFINED 01 30,000
ENTERGY$0.01 COM 29364G103 2,000 35,000 SH DEFINED 01 35,000
EXELON COM 30161N101 2,654 40,000 SH DEFINED 01 40,000
EXP SCRIPTS$0.01'A COM 302182100 531 8,000 SH DEFINED 01 8,000
EXXON MOB COM 30231G102 29,725 725,000 SH DEFINED 01 725,000
FANNIE MAE COM 313586109 7,506 100,000 SH DEFINED 01 100,000
FED DEPMRT COM 31410H101 943 20,000 SH DEFINED 01 20,000
FEDEX CORP COM 31428X106 1,890 28,000 SH DEFINED 01 28,000
FIRST ENERGY USD.1 COM 337932107 1,408 40,000 SH DEFINED 01 40,000
FISERV COM 337738108 790 20,000 SH DEFINED 01 20,000
FLEET BSTN FINL COM 339030108 4,758 109,000 SH DEFINED 01 109,000
FLEXTRONICS$0.01 COM Y2573F102 787 53,000 SH DEFINED 01 53,000
FLUOR COM 343861100 595 15,000 SH DEFINED 01 15,000
FOM ECON ADR ADR 344419106 1,106 30,000 SH DEFINED 01 30,000
FORD MTR COM 345370860 2,720 170,000 SH DEFINED 01 170,000
FOREST LABS COM 345838106 3,090 50,000 SH DEFINED 01 50,000
FOX ENT GRP'A' COM 35138T107 1,020 35,000 SH DEFINED 01 35,000
FPL GR$0.01 COM 302571104 1,963 30,000 SH DEFINED 01 30,000
FRANKLIN RES COM 354613101 1,562 30,000 SH DEFINED 01 30,000
FRED MAC USD0.21 COM 313400301 4,403 75,500 SH DEFINED 01 75,500
GANNETT COM 364730101 3,923 44,000 SH DEFINED 01 44,000
GAP INC$0.05 COM 364760108 1,973 85,000 SH DEFINED 01 85,000
GEN DYN COM 369550108 1,808 20,000 SH DEFINED 01 20,000
GEN ELEC COM 369604103 30,980 1,000,000 SH DEFINED 01 1,000,000
GEN MOTORS COM 370442832 2,804 52,500 SH DEFINED 01 52,500
GENENTECH COM 368710406 2,105 22,500 SH DEFINED 01 22,500
GENERAL MLS$0.1 COM 370334104 2,265 50,000 SH DEFINED 01 50,000
GENUNE PRTS COM 372460105 432 13,000 SH DEFINED 01 13,000
GEORGIA PAC$0.80 COM 373298108 1,104 36,000 SH DEFINED 01 36,000
GILEAD SCIE 0.001 COM 375558103 1,570 27,000 SH DEFINED 01 27,000
GILLETTE CO$1 COM 375766102 3,673 100,000 SH DEFINED 01 100,000
GLBSANFE CORP COM G3930E101 521 21,000 SH DEFINED 01 21,000
GLD SACHS COM 38141G104 3,209 32,500 SH DEFINED 01 32,500
GNZYM COM 372917104 1,234 25,000 SH DEFINED 01 25,000
GOLDEN WEST$0.10 COM 381317106 2,064 20,000 SH DEFINED 01 20,000
GPO CARSO SPN.ADR ADR 400485207 681 100,000 SH DEFINED 01 100,000
GRAINGER$0.50 COM 384802104 711 15,000 SH DEFINED 01 15,000
GRUPO TELE SP GDR GDR 40049J206 1,794 45,000 SH DEFINED 01 45,000
GUIDNT CRP NPV COM 401698105 1,686 28,000 SH DEFINED 01 28,000
HALLIBRTON COM 406216101 1,300 50,000 SH DEFINED 01 50,000
HARLEY DAVID!0.01 COM 412822108 1,830 38,500 SH DEFINED 01 38,500
HARRAHS ENT$0.10 COM 413619107 572 11,500 SH DEFINED 01 11,500
HARTFORD FINL USD COM 416515104 1,594 27,000 SH DEFINED 01 27,000
HASBRO COM 418056107 426 20,000 SH DEFINED 01 20,000
HCA INC COM 404119109 2,127 49,500 SH DEFINED 01 49,500
HEINZ(HJ) COM 423074103 1,366 37,500 SH DEFINED 01 37,500
HELL TELECOM ADS COM 423325307 186 27,778 SH DEFINED 01 27,778
HENRY SCHEIN NPV COM 806407102 338 5,000 SH DEFINED 01 5,000
HERSHEY FOODS$1 COM 427866108 770 10,000 SH DEFINED 01 10,000
HEWLETT-PKARD COM 428236103 7,695 335,000 SH DEFINED 01 335,000
HIBERNIA'A'NPV COM 428656102 870 37,000 SH DEFINED 01 37,000
HILTON HOTELS$2.50 COM 432848109 857 50,000 SH DEFINED 01 50,000
HNYWELL INTL COM 438516106 3,009 90,000 SH DEFINED 01 90,000
HOME DEPOT!0.05 COM 437076102 9,085 256,000 SH DEFINED 01 256,000
HUGHES ELEC COM 444418107 1,090 65,857 SH DEFINED 01 65,857
IBM COM 459200101 16,590 179,000 SH DEFINED 01 179,000
ILL TOOL NPV COM 452308109 3,356 40,000 SH DEFINED 01 40,000
IMS HEALTH USD COM 449934108 746 30,000 SH DEFINED 01 30,000
INDIA FUND COM 454089103 6,010 238,483 SH DEFINED 01 238,483
INGRSL-RND'A' COM G4776G101 1,901 28,000 SH DEFINED 01 28,000
INT PAPER !1 COM 460146103 2,328 54,000 SH DEFINED 01 54,000
INTEL COM 458140100 20,930 650,000 SH DEFINED 01 650,000
INTUIT 0.01 COM 461202103 1,333 25,200 SH DEFINED 01 25,200
IONA TECH ADR ADR 46206P109 317 65,000 SH DEFINED 01 65,000
ISHS C&S RLTY IDX COM 715680104 7,426 70,000 SH DEFINED 01 70,000
ITT INDUST COM 450911102 1,484 20,000 SH DEFINED 01 20,000
JABIL CIRCT COM 466313103 566 20,000 SH DEFINED 01 20,000
JDS UNIPHASE CRP COM 46612J101 511 140,000 SH DEFINED 01 140,000
JOHNSN CNTL$0.1666 COM 478366107 1,742 15,000 SH DEFINED 01 15,000
JOHNSN&JOHNSN COM 478160104 15,498 300,000 SH DEFINED 01 300,000
JP MORGAN CHASE COM 46625H100 8,026 218,500 SH DEFINED 01 218,500
JUNIPER NTWRK COM 48203R104 841 45,000 SH DEFINED 01 45,000
KB HOME COM 48666K109 725 10,000 SH DEFINED 01 10,000
KELLOGG$0.25 COM 487836108 1,618 42,500 SH DEFINED 01 42,500
KERR-MCGEE$1 COM 492386107 1,395 30,000 SH DEFINED 01 30,000
KEYCORP$1 COM 493267108 1,319 45,000 SH DEFINED 01 45,000
KIMBERLY-CL COM 494368103 2,836 48,000 SH DEFINED 01 48,000
KLA TENCOR COM 482480100 1,232 21,000 SH DEFINED 01 21,000
KOHLS CORP COM 500255104 2,467 54,900 SH DEFINED 01 54,900
KRFT FDS INC'A' COM 50075N104 1,450 45,000 SH DEFINED 01 45,000
KROGER$1 COM 501044101 1,758 95,000 SH DEFINED 01 95,000
LASON SYS$0.01 COM 51808R107 -- 1,824 SH DEFINED 01 1,824
LEHMAN BROS!0.10 COM 524908100 2,471 32,000 SH DEFINED 01 32,000
LENNAR$0.10 COM 526057104 720 7,500 SH DEFINED 01 7,500
LEXMARK INTL'A'$ COM 529771107 1,180 15,000 SH DEFINED 01 15,000
LIBERTY MED CORP COM 530718105 2,973 250,080 SH DEFINED 01 250,080
LILLY ELI COM 532457108 8,615 122,500 SH DEFINED 01 122,500
LINCOLN NATL COM 534187109 807 20,000 SH DEFINED 01 20,000
LINEAR TECH NPV COM 535678106 1,472 35,000 SH DEFINED 01 35,000
LOCK MARTIN COM 539830109 2,467 48,000 SH DEFINED 01 48,000
LOWE'S COS$0.50 COM 548661107 5,207 94,000 SH DEFINED 01 94,000
LSI LOGIC COM 502161102 399 45,000 SH DEFINED 01 45,000
LTD BRNDS INC COM 532716107 902 50,000 SH DEFINED 01 50,000
LUCENT TECH$0.01 COM 549463107 1,250 440,000 SH DEFINED 01 440,000
MARATHON OIL COM 565849106 1,489 45,000 SH DEFINED 01 45,000
MARRIOTT INT'A' COM 571903202 1,848 40,000 SH DEFINED 01 40,000
MARSH&MCLN COM 571748102 3,927 82,000 SH DEFINED 01 82,000
MASCO CORPN$1 COM 574599106 1,645 60,000 SH DEFINED 01 60,000
MATAV RT ADS COM 576561104 2,807 150,000 SH DEFINED 01 150,000
MATTEL INC$1 COM 577081102 771 40,000 SH DEFINED 01 40,000
MAXIM INTER USD COM 57772K101 1,843 37,000 SH DEFINED 01 37,000
MBIA INC COM 55262C100 888 15,000 SH DEFINED 01 15,000
MBNA COM 55262L100 3,852 155,000 SH DEFINED 01 155,000
MCCORMICK NV NPV COM 579780206 452 15,000 SH DEFINED 01 15,000
MCDONALD'S COM 580135101 3,228 130,000 SH DEFINED 01 130,000
MCGRAW HILL$1 COM 580645109 1,608 23,000 SH DEFINED 01 23,000
MCKESSON CORP COM 58155Q103 1,286 40,000 SH DEFINED 01 40,000
MDCHLTH SLTN COM 58405U102 689 20,270 SH DEFINED 01 20,270
MEADWESTVACO COM 583334107 595 20,000 SH DEFINED 01 20,000
MEDIMMUNE COM 584699102 1,207 47,500 SH DEFINED 01 47,500
MEDTRONIC INC$0.10 COM 585055106 6,903 142,000 SH DEFINED 01 142,000
MELLON FINL COM 58551A108 1,750 54,500 SH DEFINED 01 54,500
MERC BKSHS$2 COM 587405101 319 7,000 SH DEFINED 01 7,000
MERCK&CO NPV COM 589331107 8,316 180,000 SH DEFINED 01 180,000
MERRIL LYNCH COM 590188108 5,542 94,500 SH DEFINED 01 94,500
METLIFE INC COM 59156R108 2,189 65,000 SH DEFINED 01 65,000
MGN ST COM 617446448 7,031 121,500 SH DEFINED 01 121,500
MICRON TECH COM 595112103 1,212 90,000 SH DEFINED 01 90,000
MICROSOFT COM 594918104 30,845 1,120,000 SH DEFINED 01 1,120,000
MILLNUM PHARM COM 599902103 653 35,000 SH DEFINED 01 35,000
MOLEX COM 608554101 523 15,000 SH DEFINED 01 15,000
MOODYS COM 615369105 1,968 32,500 SH DEFINED 01 32,500
MOTOROLA COM 620076109 3,482 247,500 SH DEFINED 01 247,500
MYLAN LABS COM 628530107 1,263 50,000 SH DEFINED 01 50,000
N.FORK BANC COM 659424105 2,651 65,500 SH DEFINED 01 65,500
NAT CITY CORP COM 635405103 2,206 65,000 SH DEFINED 01 65,000
NAT SEMICON$0.50 COM 637640103 788 20,000 SH DEFINED 01 20,000
NATUZZI ADR ADR 456478106 1,828 181,340 SH DEFINED 01 181,340
NEWELL RUBBERMAID COM 651229106 342 15,000 SH DEFINED 01 15,000
NEWMONT$1.60 COM 651639106 2,187 45,000 SH DEFINED 01 45,000
NEWS CP ADR ADR 652487802 223 7,365 SH DEFINED 01 7,365
NEXTL COMM INC COM 65332V103 3,367 120,000 SH DEFINED 01 120,000
NIKE'B'NPV COM 654106103 1,712 25,000 SH DEFINED 01 25,000
NORFOLK S.$1 COM 655844108 1,183 50,000 SH DEFINED 01 50,000
NRTHN TST COM 665859104 928 20,000 SH DEFINED 01 20,000
NRTHROP GRUM COM 666807102 2,008 21,000 SH DEFINED 01 21,000
NY TIMES COM 650111107 693 14,500 SH DEFINED 01 14,500
OMNICOM!0.50 COM 681919106 2,629 30,100 SH DEFINED 01 30,100
ORACLE CP$0.01 COM 68389X105 7,326 555,000 SH DEFINED 01 555,000
ORBOTECH COM M75253100 1,495 62,500 SH DEFINED 01 62,500
OXFORD HEALTH COM 691471106 609 14,000 SH DEFINED 01 14,000
P G&E COM 69331C108 1,805 65,000 SH DEFINED 01 65,000
PAYCHEX COM 704326107 2,046 55,000 SH DEFINED 01 55,000
PENNEY(JC)CO COM 708160106 920 35,000 SH DEFINED 01 35,000
PEOPLESFT 0.01 COM 712713106 1,596 70,000 SH DEFINED 01 70,000
PEPSICO COM 713448108 9,086 194,900 SH DEFINED 01 194,900
PFIZER COM 717081103 30,907 874,800 SH DEFINED 01 874,800
PHELPS DODGE$6.25 COM 717265102 1,522 20,000 SH DEFINED 01 20,000
PHOENIX COS INC NEW COM 71902E109 1,226 101,817 SH SOLE 101,817
PITNEY BOWES COM 724479100 1,016 25,000 SH DEFINED 01 25,000
PPG INDS$1 2/3 COM 693506107 1,280 20,000 SH DEFINED 01 20,000
PPL CP COM 69351T106 1,969 45,000 SH DEFINED 01 45,000
PRAXAIR$0.01 COM 74005P104 1,413 37,000 SH DEFINED 01 37,000
PRGRSS ENRGY COM 743263105 1,222 27,000 SH DEFINED 01 27,000
PRINCIPAL FIN COM 74251V102 1,157 35,000 SH DEFINED 01 35,000
PRINCIPAL FINANCIAL GROUP COM 74251V102 342 10,354 SH SOLE 10,354
PRKM SFW GDR RGS GDR 743394207 814 35,000 SH DEFINED 01 35,000
PROCTR&GMBLE COM 742718109 14,982 150,000 SH DEFINED 01 150,000
PRUDENT FINANCIAL COM 744320102 1,420 34,000 SH DEFINED 01 34,000
PTRLBRAS ADS COM 71654V408 439 15,000 SH DEFINED 01 15,000
PUBLIC SERV NPV COM 744573106 1,095 25,000 SH DEFINED 01 25,000
PULTE HOMES!0.01 COM 745867101 702 7,500 SH DEFINED 01 7,500
QUALCOMM COM 747525103 4,584 85,000 SH DEFINED 01 85,000
QUST DIAGNSTC COM 74834L100 621 8,500 SH DEFINED 01 8,500
QWEST COMM USD0.01 COM 749121109 778 180,000 SH DEFINED 01 180,000
RAYTHEON CO COM 755111507 1,352 45,000 SH DEFINED 01 45,000
RCKWLL CLLNS COM 774341101 601 20,000 SH DEFINED 01 20,000
ROCKWELL AUTO COM 773903109 712 20,000 SH DEFINED 01 20,000
ROHM&HAAS COM 775371107 854 20,000 SH DEFINED 01 20,000
SAFEWAY INC$0.01 COM 786514208 986 45,000 SH DEFINED 01 45,000
SANMINA CORP COM 800907107 883 70,000 SH DEFINED 01 70,000
SARA LEE COM 803111103 1,628 75,000 SH DEFINED 01 75,000
SBC COMM$1 COM 78387G103 9,125 350,000 SH DEFINED 01 350,000
SCHERING-PLOUGH COM 806605101 2,382 137,000 SH DEFINED 01 137,000
SCHLMBGR!1 COM 806857108 3,830 70,000 SH DEFINED 01 70,000
SCHWAB CHARL$0.01 COM 808513105 1,776 150,000 SH DEFINED 01 150,000
SEARS ROE!0.75 COM 812387108 1,365 30,000 SH DEFINED 01 30,000
SEMPRA ENER NPV COM 816851109 902 30,000 SH DEFINED 01 30,000
SIEBEL SYS$0.001 COM 826170102 832 60,000 SH DEFINED 01 60,000
SIGMA ALDRICH$1 COM 826552101 457 8,000 SH DEFINED 01 8,000
SLM CORP COM 78442P106 2,713 72,000 SH DEFINED 01 72,000
SOLECTRON 0.001 COM 834182107 577 97,550 SH DEFINED 01 97,550
SOUTHERN CO$5 COM 842587107 2,420 80,000 SH DEFINED 01 80,000
SPRINT CR(PCS GRP) COM 852061506 562 100,000 SH DEFINED 01 100,000
SPRINT$2.50 COM 852061100 1,642 100,000 SH DEFINED 01 100,000
SPX COM 784635104 794 13,500 SH DEFINED 01 13,500
ST PAUL COS NPV COM 792860108 1,388 35,000 SH DEFINED 01 35,000
STAPLES USD COM 855030102 2,075 76,000 SH DEFINED 01 76,000
STARBUCK NPV COM 855244109 1,818 55,000 SH DEFINED 01 55,000
STARWD HOTELS'B' COM 85590A203 1,043 29,000 SH DEFINED 01 29,000
STATE ST CP$1 COM 857477103 1,875 36,000 SH DEFINED 01 36,000
STET HELL TEL ADR ADR 859823106 751 57,737 SH DEFINED 01 57,737
STRYKER CORP$0.10 COM 863667101 1,275 15,000 SH DEFINED 01 15,000
SUN MICRO COM 866810104 1,572 350,000 SH DEFINED 01 350,000
SW AIR$1 COM 844741108 1,453 90,000 SH DEFINED 01 90,000
SYNOVUS FNCL COM 87161C105 1,504 52,000 SH DEFINED 01 52,000
SYSCO CORP$1 COM 871829107 2,606 70,000 SH DEFINED 01 70,000
TARGET CP COM 87612E106 3,533 92,000 SH DEFINED 01 92,000
TEFNDS MEX ADR ADR 879403707 4,455 135,000 SH DEFINED 01 135,000
TELE MEX ADS COM 879403780 2,411 73,000 SH DEFINED 01 73,000
TEMCOM-INLAND$1 COM 879868107 627 10,000 SH DEFINED 01 10,000
TENET HLTH COM 88033G103 883 55,000 SH DEFINED 01 55,000
TERADYNE COM 880770102 509 20,000 SH DEFINED 01 20,000
TEXAS INSTS$1 COM 882508104 5,876 200,000 SH DEFINED 01 200,000
TEXTRON INC$0.125 COM 883203101 1,141 20,000 SH DEFINED 01 20,000
TIME WARNER COM 887315109 8,455 470,000 SH DEFINED 01 470,000
TJX CO!1 COM 872540109 1,764 80,000 SH DEFINED 01 80,000
TRANSOCN INC COM G90078109 960 40,000 SH DEFINED 01 40,000
TRAV PROP CAS'B' COM 89420G406 1,697 99,990 SH DEFINED 01 99,990
TRIBUNE(DEL)NPV COM 896047107 2,219 43,000 SH DEFINED 01 43,000
TV AZTECA ADS COM 901145102 288 31,600 SH DEFINED 01 31,600
TXU CORP COM 873168108 1,364 57,500 SH DEFINED 01 57,500
TYCO INT LD COM 902124106 5,963 225,000 SH DEFINED 01 225,000
UNION PAC CORP COM 907818108 2,397 34,500 SH DEFINED 01 34,500
UNISYS CP COM 909214108 446 30,000 SH DEFINED 01 30,000
UNITEDHEALTH GRP COM 910581107 5,411 93,000 SH DEFINED 01 93,000
UPS'B' COM 911312106 2,945 39,500 SH DEFINED 01 39,500
US BANCORP COM 917292104 6,194 208,000 SH DEFINED 01 208,000
UST INC(DEL)$0.50 COM 902911106 696 19,500 SH DEFINED 01 19,500
UTD TECH COM 913017109 5,449 57,500 SH DEFINED 01 57,500
VA LINUX SYSTEMS COM 91819B105 202 51,609 SH SOLE 51,609
VARIAN MED SYST COM 92220P105 484 7,000 SH DEFINED 01 7,000
VERITAS SFTWRE NPV COM 923436109 1,672 45,000 SH DEFINED 01 45,000
VERIZON COMM COM 92343V104 9,612 274,000 SH DEFINED 01 274,000
VIACOM N.VTG'B' COM 925524308 8,876 200,000 SH DEFINED 01 200,000
W.DISNEY HDS DIS COM 254687106 5,179 222,000 SH DEFINED 01 222,000
WACHOVIA CRP USD COM 929903102 8,246 177,000 SH DEFINED 01 177,000
WAL MART STRS$0.10 COM 931142103 18,568 350,000 SH DEFINED 01 350,000
WALGREEN COM 931422109 4,002 110,000 SH DEFINED 01 110,000
WASH MUT COM 939322103 4,092 102,000 SH DEFINED 01 102,000
WASTE MGMT COM 94106L109 2,812 95,000 SH DEFINED 01 95,000
WELLPOINT$0.01 COM 94973H108 1,891 19,500 SH DEFINED 01 19,500
WELLS FARGO COM 949746101 10,600 180,000 SH DEFINED 01 180,000
WEYERHAEUSER COM 962166104 1,888 29,500 SH DEFINED 01 29,500
WHIRLPOOL CORP! COM 963320106 581 8,000 SH DEFINED 01 8,000
WYETH COM 983024100 5,519 130,000 SH DEFINED 01 130,000
X1LINX!0.01 COM 983919101 1,550 40,000 SH DEFINED 01 40,000
XEROX CORP!1 COM 984121103 1,173 85,000 SH DEFINED 01 85,000
YAHOO INC COM 984332106 2,259 50,000 SH DEFINED 01 50,000
ZIMMER HOLDINGS COM 98956P102 2,112 30,000 SH DEFINED 01 30,000
TOTAL 1,098,764