-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: keymaster@town.hall.org Originator-Key-Asymmetric: MFkwCgYEVQgBAQICAgADSwAwSAJBALeWW4xDV4i7+b6+UyPn5RtObb1cJ7VkACDq pKb9/DClgTKIm08lCfoilvi9Wl4SODbR1+1waHhiGmeZO8OdgLUCAwEAAQ== MIC-Info: RSA-MD5,RSA, W+P7Sy0Ie375nMgK8hFfmOCodpDsFQN4UfB/AO5WC2uI+KjvLKJ/1g3WjwZpYZCu j36zcLHkrcsNH2Z2iHxCwg== 0000893220-94-000389.txt : 19940902 0000893220-94-000389.hdr.sgml : 19940902 ACCESSION NUMBER: 0000893220-94-000389 CONFORMED SUBMISSION TYPE: N-30D PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19940630 FILED AS OF DATE: 19940831 FILER: COMPANY DATA: COMPANY CONFORMED NAME: VANGUARD INDEX TRUST CENTRAL INDEX KEY: 0000036405 STANDARD INDUSTRIAL CLASSIFICATION: IRS NUMBER: 231999755 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: N-30D SEC ACT: 1940 Act SEC FILE NUMBER: 811-02652 FILM NUMBER: 94547401 BUSINESS ADDRESS: STREET 1: PO BOX 2600 STREET 2: VM #V34 CITY: VALLEY FORGE STATE: PA ZIP: 19482 BUSINESS PHONE: 6106696289 FORMER COMPANY: FORMER CONFORMED NAME: FIRST INDEX INVESTMENT TRUST DATE OF NAME CHANGE: 19800904 N-30D 1 INDEX TRUST--SEMI-ANNUAL REPORT 1 CHAIRMAN'S LETTER FELLOW SHAREHOLDER: Common stock prices experienced two significant downdrafts--one in late March, the other in late June--during the six months ended June 30, the first half of Vanguard Index Trust's 1994 fiscal year. Nonetheless, reasonable strength during the remainder of the period held the net decline in the total return of all U.S. stocks to -4.5%. In this environment, the return of each of the Trust's six Portfolios was also negative, with our large capitalization Portfolios providing better resistance to the decline than our medium and small capitalization Portfolios. In each case, however, our "tracking" of our target index was excellent. This comparative table shows the total return (capital change plus income) for each Portfolio:
- - ----------------------------------------------------------------- Total Return -------------------------- Six Months Ended June 30, 1994 -------------------------- Vanguard Target Portfolio Index* - - ----------------------------------------------------------------- LARGE STOCKS 500 PORTFOLIO -3.5% -3.4% GROWTH PORTFOLIO -4.5 -4.4 VALUE PORTFOLIO -2.4 -2.4 - - ----------------------------------------------------------------- MEDIUM AND SMALL STOCKS EXTENDED MARKET PORTFOLIO -5.7% -6.6% SMALLCAP PORTFOLIO -5.3 -6.4 - - ----------------------------------------------------------------- ALL STOCKS TOTAL STOCK MARKET PORTFOLIO -4.6% -4.5% - - -----------------------------------------------------------------
* The respective indexes are: The Standard & Poor's 500 Index, the Standard & Poor's/BARRA Growth and Value Indexes, the Wilshire 4500 Index, the Russell 2000 Index, and the Wilshire 5000 Index. "Standard & Poor's," "S&P 500" and "500" are registered trademarks of Standard & Poor's Corporation; "Wilshire 4500" and "Wilshire 5000" are registered trademarks of Wilshire Associates; "Russell 2000" is a registered trademark of the Frank Russell Company. Detailed per share figures for each Portfolio, including net asset values, income dividends, and any capital gains distributions, are presented in the table that follows this letter. * THE PERIOD IN REVIEW Following two years of relative tranquility, substantial volatility returned to the stock market during the past six months, and stocks in aggregate showed a net decline. While the decline in stock prices from the February high to the June low (-8%) was fairly significant, it was a far cry from the market's sharp dips in 1990 (-20%), 1987 (-34%), 1981 (-18%), and 1973-74 (-48%). (Price change from high to low, excluding income.) Although the recent price decline could be described as "moderate" in an historical sense, it seemed to reflect investor concerns beyond the actual dimensions of the problems confronting the market, most notably possible future inflation. Surely, investor concerns were increased by the sharp six-month decline in the prices of long-term U.S. Treasury bonds (-15%), as interest rates leaped upward--from 6.4% at the start of our fiscal period to 7.6% at its close. By way of perspective, this yield was 7.4% when 1993 began. While these inflationary concerns have yet to be reflected in the Consumer Price Index, the Federal Reserve has acted to "tighten" the money supply and slow economic growth and potential future inflation, raising the Federal funds rate (at which banks borrow from one another) four times--in February, March, April, and again in May--from 3.00% to 4.25%. Theory suggests that increases in short-term rates should be regarded by market participants as a restraint on potential inflation, and thus cause long-term rates to fall. However, this theory seldom holds true in practice, and 1994 has proved to be no exception. One of the most noteworthy features of this year's market (so far) is that its pattern has been quite the reverse of last year's. In 1993, the small and medium capitalization stocks led the market, while the large cap stocks were laggards. This year, the largest stocks were, in general, the best place to be. The net result is that last year's aggressive mutual funds have played "second fiddle" to the conservative middle-of-the-road equity funds this year. Investors who "stayed the course" in one 1 2 category or the other have earned good positive returns on balance; most investors who "shifted gears" to own last year's winners have not been very successful. Again in contrast to 1993, during the first half of 1994 index mutual funds generally outpaced traditionally managed equity funds. As I mentioned in our Annual Report six months ago, "the Standard & Poor's 500 Index, with its large-cap bias, outpaced 'only' 40% of the managed funds for the year." So far in 1994, the 500 Index has taken a large step upward, outpacing fully 70% of all general equity funds for the period. The first half of 1994, then, has been (1) a negative period for equities, albeit really but a "blip" in a long-term perspective; and (2) a period in which the six Portfolios of Vanguard Index Trust produced fine results in tracking our target indexes, and even better results relative to our industry peer groups. In short, Vanguard's low-cost, passively managed, market- index funds continue to set the standard against which other mutual funds must be measured. Sincerely, /s/ JOHN C.BOGLE - - ---------------- John C. Bogle Chairman of the Board July 18, 1994 Note: Mutual fund data from Lipper Analytical Services, Inc. A NEW FUND ANNOUNCEMENT In addition to the inherent advantages of indexing--the broadest possible diversification at the lowest reasonable cost--index funds, as we have noted in the past, have provided substantial tax savings to share owners. Regular mutual funds tend to have high rates of portfolio turnover; thus, a high proportion of their capital gains are realized and distributed--and shareholders must pay taxes on them. Index funds normally have much lower portfolio turnover rates and, as a result, realize and distribute a much lower proportion of their capital appreciation. To further improve on this situation, we are now introducing the "Vanguard Tax-Managed Fund," a series of three new Portfolios designed to further enhance the tax benefits of regular indexing. A special booklet entitled, "An Innovative Solution to a Taxing Problem," is now available, and may be obtained by calling 1-800-962-5273.
- - ----------------------------------------------------------------------------------------------- NET ASSET VALUE PER SHARE ---------------------------------- DIVIDENDS PER SHARE FROM INDEX TRUST PORTFOLIO DECEMBER 31, 1993 JUNE 30, 1994 NET INVESTMENT INCOME* - - ----------------------------------------------------------------------------------------------- 500 . . . . . . . . . . . . . . $43.83 $41.81 $0.44 EXTENDED MARKET . . . . . . . 19.43 18.19 -- TOTAL STOCK MARKET . . . . . . 11.69 11.04 0.12 GROWTH . . . . . . . . . . . . 10.20 9.64 0.10 VALUE . . . . . . . . . . . . . 11.74 11.22 0.14 SMALLCAP . . . . . . . . . . . 15.67 14.84 -- - - -----------------------------------------------------------------------------------------------
*In addition, "carry-over" distributions from net capital gains realized during 1993 were made in March by the 500 Portfolio ($0.08 per share), the Extended Market Portfolio ($0.14), and the Value Portfolio ($0.11). The Extended Market Portfolio and the SmallCap Portfolio pay income dividends annually, at each year end. 2 3 AVERAGE ANNUAL TOTAL RETURNS AVERAGE ANNUAL TOTAL RETURNS--THE AVERAGE ANNUAL TOTAL RETURNS FOR THE PORTFOLIOS (PERIODS ENDED JUNE 30, 1994) ARE AS FOLLOWS:
10 YEARS -------------------------------------- INCEPTION TOTAL CAPITAL INCOME PORTFOLIO DATE 1 YEAR 5 YEARS RETURN RETURN RETURN - - ------------------------------- ---- ------ ------- ------ ------ ------ SMALLCAP PORTFOLIO* 10/3/60 +4.33% + 9.15% + 8.49 + 7.63% +0.86% 500 PORTFOLIO** 8/31/76 +1.20 +10.06 +14.72 +11.00 +3.72 EXTENDED MARKET PORTFOLIO* 12/21/87 +1.32 + 9.15 +12.59+ +10.88+ +1.71+ TOTAL STOCK MARKET PORTFOLIO*** 4/27/92 +0.50 + 7.12+ -- -- -- GROWTH PORTFOLIO** 11/2/92 -0.57 - 0.09+ -- -- -- VALUE PORTFOLIO** 11/2/92 +2.94 +11.46+ -- -- --
ALL OF THE DATA REPRESENT PAST PERFORMANCE. THE INVESTMENT RETURN AND PRINCIPAL VALUE OF AN INVESTMENT WILL FLUCTUATE SO THAT AN INVESTOR'S SHARES, WHEN REDEEMED, MAY BE WORTH MORE OR LESS THAN THEIR ORIGINAL COST. * PERFORMANCE FIGURES ARE ADJUSTED FOR THE 1% TRANSACTION FEE ON PURCHASES AND THE ANNUAL ACCOUNT MAINTENANCE FEE OF $10. ** PERFORMANCE FIGURES ARE ADJUSTED FOR THE ANNUAL ACCOUNT MAINTENANCE FEE OF $10. *** PERFORMANCE FIGURES ARE ADJUSTED FOR THE .25% TRANSACTION FEE ON PURCHASES AND THE ANNUAL ACCOUNT MAINTENANCE FEE OF $10. + ANNUALIZED RETURN SINCE INCEPTION. 3 4 TOTAL INVESTMENT RETURN The table below illustrates the results of an investment in VANGUARD INDEX TRUST-500 PORTFOLIO during the period from August 31, 1976, to June 30, 1994, the lifetime of the Portfolio. During this period, stock prices fluctuated widely. These results should not be considered a representation of the dividend income or capital gain or loss which may be realized from an investment made in the Portfolio today.
- - ---------------------------------------------------------------------------------------------------------------------------------- TOTAL INVESTMENT PERIOD PER SHARE DATA YEAR-END VALUE RETURN - - ---------------------------------------------------------------------------------------------------------------------------------- Annual Percentage Change* Value with Income ------------------------- Year Ended Net Asset Income Capital Gains Dividends & Capital 500 S&P 500 500 S&P 500 December 31 Value Dividends Distributions Gains Reinvested Portfolio Index Portfolio Index - - ---------------------------------------------------------------------------------------------------------------------------------- INITIAL (8/76) $14.15 -- -- $ 14.15 $10,000 $10,000 -- -- - - ---------------------------------------------------------------------------------------------------------------------------------- 1976 14.73 $ .17 -- 14.90 10,531 10,588 + 5.3% + 5.9% - - ---------------------------------------------------------------------------------------------------------------------------------- 1977 13.01 .57 -- 13.73 9,705 9,827 - 7.8 - 7.2 - - ---------------------------------------------------------------------------------------------------------------------------------- 1978 13.11 .65 -- 14.54 10,275 10,467 + 5.9 + 6.5 - - ---------------------------------------------------------------------------------------------------------------------------------- 1979 14.64 .75 $ .06 17.16 12,129 12,399 +18.0 +18.4 - - ---------------------------------------------------------------------------------------------------------------------------------- 1980 17.84 .83 .53 22.64 16,000 16,421 +31.9 +32.4 - - ---------------------------------------------------------------------------------------------------------------------------------- 1981 15.52 .83 .56 21.46 15,167 15,620 - 5.2 - 4.9 - - ---------------------------------------------------------------------------------------------------------------------------------- 1982 17.56 .83 .25 25.96 18,348 18,978 +21.0 +21.5 - - ---------------------------------------------------------------------------------------------------------------------------------- 1983 19.70 .87 .71 31.49 22,255 23,240 +21.3 +22.5 - - ---------------------------------------------------------------------------------------------------------------------------------- 1984 19.52 .88 .48 33.45 23,638 24,686 + 6.2 + 6.2 - - ---------------------------------------------------------------------------------------------------------------------------------- 1985 22.29 .91 1.61 43.89 31,019 32,497 +31.2 +31.6 - - ---------------------------------------------------------------------------------------------------------------------------------- 1986 24.27 .89 2.02 51.82 36,621 38,548 +18.1 +18.6 - - ---------------------------------------------------------------------------------------------------------------------------------- 1987 24.65 .69 .17 54.26 38,344 40,544 + 4.7 + 5.2 - - ---------------------------------------------------------------------------------------------------------------------------------- 1988 27.18 1.10 .32 63.06 44,564 47,233 +16.2 +16.5 - - ---------------------------------------------------------------------------------------------------------------------------------- 1989 33.64 1.20 .75 82.84 58,541 62,154 +31.4 +31.6 - - ---------------------------------------------------------------------------------------------------------------------------------- 1990 31.24 1.17 .10 80.08 56,595 60,215 - 3.3 - 3.1 - - ---------------------------------------------------------------------------------------------------------------------------------- 1991 39.32 1.15 .12 104.28 73,699 78,520 +30.2 +30.4 - - ---------------------------------------------------------------------------------------------------------------------------------- 1992 40.97 1.12 .10 112.02 79,170 84,496 + 7.4 + 7.6 - - ---------------------------------------------------------------------------------------------------------------------------------- 1993 43.83 1.13 .03 123.10 87,000 92,996 + 9.9 +10.1 - - ---------------------------------------------------------------------------------------------------------------------------------- 1994 (6/30) 41.81 .44 .08 118.84 83,990 89,826 - 3.5 - 3.4 - - ---------------------------------------------------------------------------------------------------------------------------------- LIFETIME $16.18 $7.89 +739.9% +798.3% +12.7% +13.1% - - ----------------------------------------------------------------------------------------------------------------------------------
* Adjusted to include reinvestment of income dividends and any capital gains distributions both for the Fund and the Index. Note: No adjustment has been made for income taxes payable by shareholders on reinvested income dividends and capital gains distributions. 4 5 The table below illustrates the results of an investment in VANGUARD INDEX TRUST-EXTENDED MARKET PORTFOLIO during the period from December 21, 1987, to June 30, 1994, the lifetime of the Portfolio. During this period, stock prices fluctuated widely. These results should not be considered a representation of the dividend income or capital gain or loss which may be realized from an investment made in the Portfolio today.
- - ----------------------------------------------------------------------------------------------------------------------------------- TOTAL INVESTMENT PERIOD PER SHARE DATA YEAR-END VALUE RETURN - - ----------------------------------------------------------------------------------------------------------------------------------- Annual Percentage Change* Value with Income --------------------------- Year Ended Net Asset Income Capital Gains Dividends & Capital Extended Wilshire Extended Wilshire December 31 Value Dividends Distributions Gains Reinvested Market Portfolio 4500 Index Market Portfolio 4500 Index - - ----------------------------------------------------------------------------------------------------------------------------------- INITIAL (12/87) $10.00 -- -- $14.15 $10,000 $10,000 -- -- - - ----------------------------------------------------------------------------------------------------------------------------------- 1987 9.99 -- -- 14.14 9,990 10,048 - 0.1% + 0.5% - - ----------------------------------------------------------------------------------------------------------------------------------- 1988 11.60 $ .20 $ .16 16.93 11,963 12,112 +19.7 +20.5 - - ----------------------------------------------------------------------------------------------------------------------------------- 1989 13.92 .23 .23 21.01 14,845 15,012 +24.1 +23.9 - - ----------------------------------------------------------------------------------------------------------------------------------- 1990 11.48 .33 .16 18.06 12,760 12,976 -14.0 -13.6 - - ----------------------------------------------------------------------------------------------------------------------------------- 1991 15.82 .25 .20 25.61 18,100 18,615 +41.8 +43.5 - - ----------------------------------------------------------------------------------------------------------------------------------- 1992 17.35 .25 .18 28.80 20,357 20,824 +12.5 +11.9 - - ----------------------------------------------------------------------------------------------------------------------------------- 1993 19.43 .23 .20 32.97 23,307 23,858 +14.5 +14.6 - - ----------------------------------------------------------------------------------------------------------------------------------- 1994 (6/30) 18.19 -- .14 31.08 21,972 22,289 - 5.7 - 6.6 - - ----------------------------------------------------------------------------------------------------------------------------------- LIFETIME $1.49 $1.27 +119.7% +122.9% +12.8% +13.1% - - -----------------------------------------------------------------------------------------------------------------------------------
* Adjusted to include reinvestment of income dividends and any capital gains distributions both for the Fund and the Index. Note: No adjustment has been made for income taxes payable by shareholders on reinvested income dividends and capital gains distributions. 5 6 TOTAL INVESTMENT RETURN (continued) The following table illustrates the results of a single share investment in VANGUARD INDEX TRUST-SMALL CAPITALIZATION STOCK PORTFOLIO during the period from October 3, 1960, to June 30, 1994, including the period prior to its conversion in September 1989 from an actively managed portfolio to a passively managed portfolio. During the period illustrated, stock prices fluctuated and were higher at the end than at the beginning. These results do not represent the dividend income or capital gain or loss which may be realized from an investment made in the Portfolio today.
- - ----------------------------------------------------------------------------------------------------------------------------- PERIOD PER SHARE DATA* - - ----------------------------------------------------------------------------------------------------------------------------- Value with Income Year-end Value Year Ended Net Asset Income Capital Gains Dividends & Capital of $10,000 Initial Total September 30 Value Dividends Distributions** Gains Reinvested Investment Return+ - - ----------------------------------------------------------------------------------------------------------------------------- 1960 (10/3) $ 3.33 -- -- -- $10,000 -- - - ----------------------------------------------------------------------------------------------------------------------------- 1961 3.72 -- $.0045 $ 3.72 11,170 +11.7% - - ----------------------------------------------------------------------------------------------------------------------------- 1962 3.07 $.022 -- 3.09 9,271 -17.0 - - ----------------------------------------------------------------------------------------------------------------------------- 1963 3.71 .022 -- 3.76 11,283 +21.7 - - ----------------------------------------------------------------------------------------------------------------------------- 1964 4.51 .018 -- 4.59 13,776 +22.1 - - ----------------------------------------------------------------------------------------------------------------------------- 1965 5.23 .017 .027 5.37 16,118 +17.0 - - ----------------------------------------------------------------------------------------------------------------------------- 1966 4.92 .225 .097 5.18 15,538 - 3.6 - - ----------------------------------------------------------------------------------------------------------------------------- 1967 8.56 .037 .397 9.49 28,481 +83.3 - - ----------------------------------------------------------------------------------------------------------------------------- 1968 10.51 .03 .407 12.14 36,427 +27.9 - - ----------------------------------------------------------------------------------------------------------------------------- 1969 8.90 .022 -- 10.30 30,890 -15.2 - - ----------------------------------------------------------------------------------------------------------------------------- 1970 7.78 .035 -- 9.04 27,121 -12.2 - - ----------------------------------------------------------------------------------------------------------------------------- 1971 9.74 .13 .107 11.63 34,878 +28.6 - - ----------------------------------------------------------------------------------------------------------------------------- 1972 11.66 .07 .153 14.22 42,655 +22.3 - - ----------------------------------------------------------------------------------------------------------------------------- 1973 10.35 .047 .407 13.17 39,498 - 7.4 - - ----------------------------------------------------------------------------------------------------------------------------- 1974 7.41 .133 -- 9.56 28,675 -27.4 - - ----------------------------------------------------------------------------------------------------------------------------- 1975 9.09 .243 -- 12.08 36,245 +26.4 - - ----------------------------------------------------------------------------------------------------------------------------- 1976 10.98 .19 .027 14.92 44,762 +23.5 - - ----------------------------------------------------------------------------------------------------------------------------- 1977 11.72 .133 .017 16.17 48,522 + 8.4 - - ----------------------------------------------------------------------------------------------------------------------------- 1978 13.45 .207 1.04 20.72 62,157 +28.1 - - ----------------------------------------------------------------------------------------------------------------------------- 1979 12.07 .253 1.753 22.48 67,440 + 8.5 - - ----------------------------------------------------------------------------------------------------------------------------- 1980 15.21 .337 .90 31.58 94,753 +40.5 - - ----------------------------------------------------------------------------------------------------------------------------- 1981 12.09 .133 2.543 29.94 89,825 - 5.2 - - ----------------------------------------------------------------------------------------------------------------------------- 1982 12.50 .033 2.107 36.89 110,664 +23.2 - - ----------------------------------------------------------------------------------------------------------------------------- 1983 19.77 .303 .92 62.86 188,571 +70.4 - - ----------------------------------------------------------------------------------------------------------------------------- 1984 13.15 -- 2.51 48.46 145,388 -22.9 - - ----------------------------------------------------------------------------------------------------------------------------- 1985 11.68 .15 .77 46.68 140,052 - 3.7 - - ----------------------------------------------------------------------------------------------------------------------------- 1986 13.24 -- -- 52.91 158,715 +13.3 - - ----------------------------------------------------------------------------------------------------------------------------- 1987 15.73 -- 1.89 73.02 219,065 +38.0 - - ----------------------------------------------------------------------------------------------------------------------------- 1988 11.96 -- 1.213 62.58 187,750 -14.3 - - ----------------------------------------------------------------------------------------------------------------------------- 1989 11.88 .143 2.167 74.37 223,095 +18.8 - - ----------------------------------------------------------------------------------------------------------------------------- 1990 8.55 .043 -- 53.75 161,235 -27.7 - - ----------------------------------------------------------------------------------------------------------------------------- 1991 12.03 .18 .14 78.43 235,258 +45.9 - - ----------------------------------------------------------------------------------------------------------------------------- 1992 12.63 .18 .29 85.76 257,231 + 9.3 - - ----------------------------------------------------------------------------------------------------------------------------- 1993 16.23 .18 .15 112.86 338,516 +31.6 - - ----------------------------------------------------------------------------------------------------------------------------- 1994 (6/30) 14.84 .18 .82 109.99 329,431 - 2.5 - - ----------------------------------------------------------------------------------------------------------------------------- LIFETIME $3.696 $20.8565 +3,194.3% +10.9% - - -----------------------------------------------------------------------------------------------------------------------------
* Adjusted for 3-for-1 stock split, February 23, 1990. ** Prior to 1973 capital gains were retained and taxes were paid by the Fund. Data from 1974 through 1993 represent capital gains distributions. + Adjusted to include reinvestment of income dividends and any capital gains distributions. Note: No adjustment has been made for taxes payable by shareholders on income dividends and capital gains distributions. 6 7 STATEMENT OF NET ASSETS FINANCIAL STATEMENTS (unaudited) June 30, 1994
Market Value 500 PORTFOLIO Shares (000)+ - - --------------------------------------------------------------- COMMON STOCKS - - --------------------------------------------------------------- General Electric Co. 4,416,200 $ 205,905 AT&T Corp. 3,505,521 190,613 Exxon Corp. 3,206,247 181,554 Royal Dutch Petroleum Co. 1,384,102 144,812 Wal-Mart Stores, Inc. 5,934,806 143,919 The Coca-Cola Co. 3,339,423 135,664 Philip Morris Cos., Inc. 2,264,698 116,632 E.I. du Pont de Nemours & Co. 1,752,449 102,299 General Motors Corp. 1,922,766 96,619 Merck & Co., Inc. 3,237,680 96,321 Procter & Gamble Co. 1,765,886 94,254 International Business Machines Corp. 1,501,137 88,192 Mobil Corp. 1,028,440 83,946 BellSouth Corp. 1,281,129 79,110 GTE Corp. 2,470,089 77,808 * Microsoft Corp. 1,486,944 76,578 Ford Motor Co. 1,293,044 76,290 Amoco Corp. 1,281,689 73,056 Johnson & Johnson 1,660,213 71,182 American International Group, Inc. 820,127 71,043 Bristol-Myers Squibb Co. 1,319,829 70,776 Chevron Corp. 1,682,646 70,461 Southwestern Bell Corp. 1,549,830 67,418 Motorola, Inc. 1,439,108 64,040 PepsiCo, Inc. 2,063,394 63,191 Intel Corp. 1,079,775 63,167 Bell Atlantic Corp. 1,125,935 63,052 Abbott Laboratories, Inc. 2,116,795 61,387 Federal National Mortgage Assn. 705,613 58,919 The Walt Disney Co. 1,386,490 57,713 Minnesota Mining & Manufacturing Co. 1,093,623 54,134 Ameritech Corp. 1,411,468 53,989 McDonald's Corp. 1,827,084 52,757 Pfizer, Inc. 828,596 52,305 Hewlett-Packard Co. 652,999 49,220 U.S. West Corp. 1,170,001 48,994 Home Depot, Inc. 1,157,021 48,740 Dow Chemical Co. 710,944 46,478 American Home Products Corp. 801,265 45,472 Sears, Roebuck & Co. 907,570 43,563 Chrysler Corp. 914,292 43,086 Eli Lilly & Co. 755,863 42,990 Atlantic Richfield Co. 413,205 42,199 Unilever NV 413,258 41,636 BankAmerica Corp. 903,734 41,346 Eastman Kodak Co. 852,961 41,049 The Boeing Co. 879,044 40,656 NYNEX Corp. 1,070,887 40,560 Texaco, Inc. 668,806 40,379 Citicorp 997,943 39,793 Schlumberger Ltd. 630,542 37,281 Gillette Co. 570,698 37,167 NationsBank, Inc. 695,851 35,749 Anheuser-Busch Co., Inc. 686,263 34,828 Time Warner, Inc. 975,159 34,252 Banc One Corp. 986,719 33,795 Pacific Telesis Group 1,088,534 33,608 WMX Technologies Inc. 1,248,260 33,079 J.C. Penney Co., Inc. 609,608 33,071 Emerson Electric Co. 579,527 32,961 American Express Co. 1,277,239 32,889 Columbia/HCA Healthcare Corp. 873,737 32,765 Kellogg Co. 580,898 31,586 Southern Co. 1,674,046 31,388 MCI Communications Corp. 1,401,497 31,008 Sprint Corp. 886,590 30,920 J.P. Morgan & Co., Inc. 499,330 30,896 Schering-Plough Corp. 498,695 30,545 * Airtouch Communications 1,271,971 30,050 Union Pacific Corp. 529,737 29,996 The Seagram Co. Ltd. 962,293 29,109 Capital Cities/ABC, Inc. 396,030 28,168 Federal Home Loan Mortgage Corp. 464,530 28,104 * Oracle Systems Corp. 748,848 27,988 * McCaw Cellular Communications, Inc. 539,659 27,860 Travelers Inc. 835,872 26,957 Caterpillar, Inc. 262,988 26,299 Xerox Corp. 269,001 26,295 Sara Lee Corp. 1,236,439 26,274 Pacific Gas & Electric Co. 1,104,348 26,228 Allied-Signal, Inc. 733,876 25,410 May Department Stores Co. 641,123 25,164 Chemical Banking Corp. 651,818 25,095 ITT Corp. 303,883 24,804 * Toys R Us, Inc. 749,948 24,561 The Dun & Bradstreet Corp. 439,463 24,390 * Tele-Communications, Inc. Class A 1,161,301 23,662 General Re Corp. 216,881 23,640 Monsanto Co. 306,396 23,171 Warner-Lambert Co. 345,526 22,805 Raytheon Co. 349,576 22,635 Norfolk Southern Corp. 357,557 22,526 General Mills, Inc. 409,966 22,394 Campbell Soup Co. 647,727 22,266 Kimberly-Clark Corp. 415,836 21,987 Norwest Corp. 822,928 21,499 Wells Fargo & Co. 142,630 21,448
7 8 STATEMENT OF NET ASSETS (continued)
Market Value Shares (000)+ - - --------------------------------------------------------------- Rockwell International Corp. 569,658 $ 21,291 Weyerhaeuser Co. 530,954 21,238 International Paper Co. 320,052 21,203 - - --------------------------------------------------------------- TOTAL--100 LARGEST STOCKS 5,147,572 - - --------------------------------------------------------------- Phillips Petroleum Co. 675,127 21,098 Enron Corp. 643,654 21,080 United Technologies Corp. 327,742 21,057 * Compaq Computer Corp. 650,625 20,983 H.J. Heinz Co. 650,754 20,743 PPG Industries, Inc. 548,718 20,577 CSX Corp. 269,679 20,361 First Union Corp. 439,326 20,264 Tenneco, Inc. 436,677 20,251 Keycorp 623,667 19,879 Colgate-Palmolive Co. 380,856 19,805 Archer-Daniels-Midland Co. 845,369 19,655 Conagra, Inc. 640,439 19,533 Automatic Data Processing, Inc. 366,295 19,459 Duke Power Co. 528,904 18,908 Gannett Co., Inc. 379,462 18,783 AMP, Inc. 270,877 18,758 Baxter International, Inc. 714,316 18,751 Texas Instruments, Inc. 235,106 18,691 CPC International, Inc. 386,735 18,660 Merrill Lynch & Co., Inc. 527,281 18,455 The Chase Manhattan Corp. 476,595 18,230 Texas Utilities Co. 580,264 18,206 Albertson's, Inc. 655,364 18,023 Northern Telecom Ltd. 648,715 17,921 Unocal Corp. 623,129 17,837 American Barrick Resources 740,480 17,679 Corning, Inc. 539,314 17,595 PNC Bank Corp. 606,911 17,525 The Chubb Corp. 226,423 17,350 Computer Associates International, Inc. 424,827 16,993 Aluminum Co. of America 228,188 16,686 Blockbuster Entertainment Corp. 643,070 16,639 Dean Witter Discover & Co. 440,383 16,514 First Interstate Bancorp. 214,403 16,509 American Brands, Inc. 521,796 16,502 Public Service Enterprise Group Inc. 631,842 16,428 Kmart Corp. 1,055,134 16,355 The Limited, Inc. 937,431 16,171 Aetna Life & Casualty Co. 289,003 16,148 The Gap, Inc. 375,689 16,061 Consolidated Edison Co. of New York, Inc. 605,641 16,049 Marsh & McLennan, Inc. 190,898 15,916 * Novell, Inc. 948,129 15,763 Dominion Resources, Inc. 433,247 15,759 Pitney Bowes, Inc. 408,630 15,630 U.S. Healthcare, Inc. 417,432 15,445 Nucor Corp. 225,176 15,425 United Healthcare Corp. 336,100 15,419 Suntrust Banks, Inc. 316,170 15,295 American General Corp. 553,629 15,294 * Cisco Systems, Inc. 660,934 15,284 Browning-Ferris Industries, Inc. 497,546 15,113 PECO Energy Corp. 571,960 15,085 Deere & Co. 221,335 14,968 Dayton-Hudson Corp. 184,641 14,956 SCE Corp. 1,156,258 14,887 Occidental Petroleum Corp. 787,146 14,857 Entergy Corp. 594,646 14,717 * Amgen, Inc. 343,444 14,682 FPL Group, Inc. 490,651 14,658 Wachovia Corp. 442,471 14,657 UST, Inc. 529,303 14,357 Wm. Wrigley, Jr. Co. 300,450 14,271 The Goodyear Tire & Rubber Co. 388,366 13,981 Georgia-Pacific Corp. 232,303 13,909 Burlington Resources, Inc. 334,893 13,856 Bankers Trust New York Corp. 205,986 13,724 Salomon, Inc. 285,514 13,633 CIGNA Corp. 186,326 13,625 American Electric Power Co., Inc. 476,439 13,459 Fleet Financial Group, Inc. 355,009 13,402 Lowes Cos., Inc. 387,394 13,268 Placer Dome Group, Inc. 615,396 13,231 Alcan Aluminium Ltd. 579,763 13,190 NBD Bancorp, Inc. 414,437 13,107 Upjohn Co. 446,613 13,008 American Cyanamid Co. 231,975 12,991 Commonwealth Edison Co. 552,921 12,579 Air Products & Chemicals, Inc. 295,387 12,517 CBS, Inc. 40,099 12,431 USX-Marathon Group 741,831 12,426 Burlington Northern, Inc. 229,655 12,258 Pacificorp 725,459 12,242 Quaker Oats Co. 173,273 12,107 Textron, Inc. 228,267 11,955 McDonnell Douglas Corp. 101,504 11,876 Medtronic, Inc. 147,759 11,839 Amerada Hess Corp. 239,699 11,805 * AMR Corp. 196,054 11,641 Walgreen Co. 318,613 11,629 Genuine Parts Co. 321,580 11,617 Nike, Inc. Class B 191,505 11,442 R.R. Donnelley & Sons Co. 410,557 11,393 Illinois Tool Works, Inc. 292,068 11,391 International Flavors & Fragrances, Inc. 289,699 11,334
8 9
Market Value Shares (000)+ - - --------------------------------------------------------------- Hercules, Inc. 105,592 $ 11,298 Conrail, Inc. 205,867 11,271 Masco Corp. 405,044 11,139 Barnett Banks of Florida, Inc. 252,134 11,031 - - --------------------------------------------------------------- TOTAL--200 LARGEST STOCKS 6,700,787 - - --------------------------------------------------------------- Houston Industries, Inc. 337,601 11,014 Mattel, Inc. 433,825 11,008 Avon Products, Inc. 186,602 10,986 Rohm & Haas Co. 175,099 10,900 Rubbermaid, Inc. 415,131 10,897 Martin Marietta Corp. 246,612 10,882 Fluor Corp. 212,506 10,811 H & R Block, Inc. 274,902 10,790 First Chicago Corp. 223,628 10,762 Sysco Corp. 475,587 10,760 TRW, Inc. 166,129 10,715 * Federal Express Corp. 143,448 10,705 Westinghouse Electric Corp. 915,592 10,644 Cooper Industries, Inc. 295,656 10,644 Melville Corp. 272,556 10,562 Lockheed Corp. 161,248 10,542 Honeywell, Inc. 337,812 10,472 Union Carbide Corp. 389,970 10,432 Phelps Dodge Corp. 182,052 10,377 Central & South West Corp. 487,696 10,364 Lincoln National Corp. 243,631 10,324 Eastman Chemical 213,788 10,208 Eaton Corp. 196,311 10,208 Whirlpool Corp. 191,810 10,070 Scott Paper Co. 191,600 10,011 * Santa Fe Pacific Corp. 478,344 9,985 Great Lakes Chemical Corp. 184,283 9,974 Halliburton Co. 295,439 9,971 The Times Mirror Co. Class A 328,976 9,910 Morton International, Inc. 126,306 9,852 Hershey Foods Corp. 226,169 9,810 W.R. Grace & Co. 241,430 9,627 Carolina Power & Light Co. 416,079 9,622 CoreStates Financial Corp. 372,056 9,580 First Fidelity Bancorp. 206,576 9,580 Ingersoll-Rand Co. 272,604 9,575 Transamerica Corp. 182,374 9,506 Detroit Edison Co. 380,861 9,426 Newell Co. 203,786 9,425 Dresser Industries, Inc. 453,744 9,302 Mellon Bank Corp. 164,332 9,244 The Tribune Co. 172,991 9,212 Consolidated Natural Gas Co. 240,641 9,084 Safeco Corp. 162,886 9,040 American Stores Co. 368,974 9,040 Nordstrom, Inc. 212,436 9,029 Dillard Department Stores Class A 292,347 9,026 Ralston-Purina Group 259,811 8,996 Newmont Mining Corp. 221,114 8,900 UNUM Corp. 196,374 8,788 St. Paul Cos., Inc. 218,832 8,781 Marriott International 329,029 8,760 Dover Corp. 147,566 8,688 Louisiana-Pacific Corp. 284,581 8,680 MBNA Corp. 384,636 8,654 * Crown Cork & Seal Co., Inc. 229,508 8,549 McGraw-Hill, Inc. 127,800 8,499 Boatmen's Bancshares, Inc. 269,662 8,427 Union Electric Corp. 264,465 8,397 * Price/Costco Inc. 563,205 8,378 W.W. Grainger, Inc. 130,952 8,365 Household International, Inc. 244,147 8,301 Winn Dixie Stores, Inc. 192,228 8,266 Union Camp Corp. 180,739 8,201 Baltimore Gas & Electric Co. 377,959 8,032 * UAL Corp. 63,201 7,979 Dow Jones & Co., Inc. 257,186 7,973 Alco Standard Corp. 138,706 7,924 Apple Computer, Inc. 300,413 7,923 Champion International Corp. 240,886 7,919 VF Corp. 166,481 7,908 Providian Corp. 259,516 7,850 * Promus Co. Inc. 264,537 7,837 Becton, Dickinson & Co. 187,676 7,671 Williams Cos., Inc. 266,034 7,615 Pioneer Hi Bred International 231,414 7,579 McKesson Corp. 104,658 7,548 Loral Corp. 215,138 7,530 Baker Hughes, Inc. 362,808 7,438 Reynolds Metals Co. 154,885 7,434 Sun Co., Inc. 275,741 7,411 Torchmark Corp. 188,190 7,339 Inco Ltd. 299,809 7,308 Coastal Corp. 269,927 7,288 Dana Corp. 253,854 7,235 Knight-Ridder, Inc. 140,010 7,158 Northern States Power Co. of Minnesota 172,407 7,090 Sherwin-Williams Co. 224,789 7,081 Harcourt General, Inc. 201,041 7,062 Ohio Edison Co. 394,112 7,045 Cyprus Amax 236,428 7,034 Sonat, Inc. 225,415 6,932 * Digital Equipment Corp. 356,164 6,901 Clorox Co. 139,922 6,839 Temple-Inland Inc. 143,132 6,817 Praxair, Inc. 346,046 6,748 The Mead Corp. 152,842 6,744
9 10 STATEMENT OF NET ASSETS (continued)
Market Value Shares (000)+ - - --------------------------------------------------------------- Bank of Boston Corp. 272,545 $ 6,711 Hasbro, Inc. 226,495 6,710 National Medical Enterprises, Inc. 428,442 6,694 - - --------------------------------------------------------------- TOTAL--300 LARGEST STOCKS 7,584,632 - - --------------------------------------------------------------- Homestake Mining Co. 355,477 6,665 U.S. Bancorp 257,366 6,659 General Dynamics Corp. 161,604 6,606 Shawmut National Corp. 299,146 6,581 USX-U.S. Steel Group 193,692 6,561 Hilton Hotels Corp. 123,626 6,552 New York Times Co. Class A 273,059 6,519 Comcast Corp. Class A 362,942 6,488 Mallinckrodt Group, Inc. 199,008 6,468 * The Kroger Co. 277,619 6,455 Golden West Financial Corp. 165,723 6,401 Reebok International Ltd. 213,754 6,386 Roadway Services, Inc. 100,782 6,299 Kerr-McGee Corp. 133,375 6,285 Englehard Corp. 248,324 6,270 Great Western Financial Corp. 341,018 6,266 Jefferson-Pilot Corp. 127,852 6,233 Premark International, Inc. 82,350 6,197 Panhandle Eastern Corp. 309,398 6,111 Pennzoil Co. 118,774 6,087 Interpublic Group of Cos., Inc. 194,684 6,035 * Advanced Micro Devices, Inc. 238,537 5,934 Delta Air Lines, Inc. 129,872 5,877 * Western Atlas Inc. 121,617 5,792 H.F. Ahmanson & Co. 301,851 5,697 American Greetings Corp. Class A 191,407 5,694 Nalco Chemical, Inc. 178,567 5,692 * DSC Communications Corp. 289,944 5,654 Tandy Corp. 163,851 5,653 Bausch & Lomb, Inc. 152,537 5,644 Deluxe Corp. 213,601 5,634 SuperValu, Inc. 186,227 5,633 Service Corp. International 218,525 5,627 Niagara Mohawk Power Corp. 367,301 5,555 Tyco International Ltd. 119,765 5,479 * Computer Sciences Corp. 130,370 5,427 Brunswick Corp. 246,119 5,415 Woolworth Corp. 340,750 5,409 Parker Hannifin Corp. 125,785 5,362 * National Semiconductor Corp. 309,553 5,340 Westvaco Corp. 172,802 5,314 Ashland Oil, Inc. 155,197 5,218 Maytag Corp. 276,888 5,122 * Bethlehem Steel Corp. 274,559 5,114 Circuit City Stores, Inc. 248,154 5,087 The Dial Corp. 118,974 5,086 Johnson Controls, Inc. 104,700 5,065 Brown-Forman Corp. Class B 178,665 5,047 * FMC Corp. 92,978 5,032 Ryder System, Inc. 198,971 4,999 Cooper Tire & Rubber Co. 215,833 4,991 Pep Boys (Manny, Moe & Jack) 157,636 4,985 * ALZA Corp. 211,087 4,960 Pet, Inc. 264,561 4,927 * Sun Microsystems, Inc. 241,415 4,919 Beneficial Corp. 133,596 4,876 Northrop Grumman Corp. 126,996 4,715 The Stanley Works 115,661 4,655 Cummins Engine Co., Inc. 106,966 4,626 Echlin, Inc. 153,187 4,615 Paccar, Inc. 100,402 4,593 Comcast Corp. Class A Special 253,986 4,540 Harris Corp. 102,879 4,539 Borden, Inc. 364,562 4,511 Rite Aid Corp. 222,276 4,501 Pall Corp. 299,986 4,500 Armstrong World Industries Inc. 95,984 4,475 Moore Corp. Ltd. 256,978 4,336 Worthington Industries, Inc. 234,194 4,333 Pacific Enterprises 216,827 4,309 * Lotus Development Corp. 117,792 4,299 Whitman Corp. 272,141 4,218 Avery Dennison Corp. 145,071 4,207 TJX Cos., Inc. 189,783 4,152 Wendys International, Inc. 265,612 4,151 * Varity Corp. 113,479 4,128 Snap-On Inc. 110,565 4,119 * Unisys Corp. 440,754 4,077 Liz Claiborne, Inc. 203,598 4,072 Manor Care Inc. 161,000 4,045 General Signal Corp. 122,234 4,034 Raychem Corp. 110,477 3,977 Polaroid Corp. 121,001 3,857 * King World Productions, Inc. 96,443 3,846 St. Jude Medical, Inc. 120,032 3,841 Millipore Corp. 72,220 3,810 Oryx Energy Co. 250,560 3,758 Black & Decker Corp. 216,547 3,735 Louisiana Land & Exploration Co. 85,662 3,641 * Inland Steel Industries, Inc. 104,161 3,633 NICOR, Inc. 136,710 3,606 Ecolab, Inc. 163,078 3,588 James River Corp. 210,952 3,586 Allergan, Inc. 165,032 3,569 * Columbia Gas Systems, Inc. 130,701 3,529 * Owens-Corning Fiberglas Corp. 110,815 3,449 McDermott International, Inc. 137,813 3,445 Foster Wheeler Corp. 92,195 3,354 National Service Industries, Inc. 128,237 3,334
10 11
Market Value Shares (000)+ - - --------------------------------------------------------------- Scientific-Atlanta, Inc. 96,979 $ 3,334 - - --------------------------------------------------------------- TOTAL--400 LARGEST STOCKS 8,083,658 - - --------------------------------------------------------------- Perkin-Elmer Corp. 113,592 3,323 * Tandem Computers, Inc. 294,790 3,316 * Stone Container Corp. 226,605 3,314 E-Systems, Inc. 87,287 3,262 United States Surgical Corp. 145,311 3,233 C.R. Bard, Inc. 134,361 3,208 * Biomet, Inc. 298,176 3,131 Echo Bay Mines Ltd. 289,792 3,115 PSI Resources, Inc. 147,389 3,114 Russell Corp. 105,632 3,077 Mercantile Stores Co., Inc. 95,405 3,065 Giant Food, Inc. Class A 154,456 3,031 Asarco, Inc. 107,762 3,031 Autodesk, Inc. 61,355 3,022 Thomas & Betts Corp. 48,771 2,999 Bemis Co., Inc. 132,501 2,948 Potlatch Corp. 75,379 2,902 The BF Goodrich Co. 66,342 2,886 Pittston Services Group 107,133 2,866 * Ceridian Corp. 114,095 2,810 USF&G Corp. 220,035 2,695 * Clark Equipment Co. 44,882 2,682 Fleming Cos., Inc. 95,377 2,647 The Timkin Co. 79,596 2,607 * Navistar International Corp. 193,693 2,591 * Beverly Enterprises Inc. 211,626 2,566 Trinova Corp. 73,326 2,539 Safety-Kleen Corp. 149,110 2,535 Briggs & Stratton Corp. 37,470 2,506 Federal Paper Board Co., Inc. 108,612 2,484 ENSERCH Corp. 171,122 2,460 Ogden Corp. 111,764 2,459 Charming Shoppes, Inc. 265,688 2,424 * Andrew Corp. 64,912 2,337 Teledyne Inc. 143,497 2,296 Fleetwood Enterprises, Inc. 118,244 2,261 Tektronix, Inc. 77,888 2,200 Continental Corp. 141,774 2,197 * Consolidated Freightways, Inc. 91,643 2,177 Santa Fe Energy Resources Inc. 232,036 2,175 EG & G, Inc. 144,107 2,162 Boise Cascade Corp. 97,517 2,158 Great Atlantic & Pacific Tea Co., Inc. 98,913 2,127 Centex Corp. 81,430 2,097 Peoples Energy Corp. 89,554 2,093 USLIFE Corp. 58,189 2,066 Crane Co. 77,655 2,048 Ball Corp. 75,484 1,963 Longs Drug Stores, Inc. 53,762 1,922 * Rowan Cos., Inc. 216,626 1,895 Jostens Inc. 117,476 1,894 Noram Energy Corp. 314,521 1,887 Alexander & Alexander Services, Inc. 111,961 1,819 Cincinnati Milacron, Inc. 86,533 1,806 Morrison-Knudsen Co., Inc. 80,875 1,739 Adolph Coors Co. Class B 100,155 1,728 * Maxus Energy Corp. 344,398 1,722 John H. Harland Co. 79,015 1,719 Brown Group, Inc. 45,345 1,706 Stride Rite Corp. 129,968 1,690 Transco Energy Co. 103,809 1,687 Helmerich & Payne, Inc. 63,394 1,680 Pulte Corp. 71,109 1,635 Amdahl Corp. 296,054 1,628 * Shoney's Inc. 105,265 1,605 Meredith Corp. 37,275 1,584 * Cray Research, Inc. 67,529 1,528 Alberto-Culver Co. Class B 70,466 1,524 * Armco, Inc. 267,077 1,502 Luby's Cafeterias, Inc. 66,635 1,499 Bruno's Inc. 204,526 1,432 Shared Medical Systems Corp. 59,498 1,428 Springs Industries Inc. Class A 45,432 1,357 Giddings & Lewis, Inc. 89,691 1,345 Community Psychiatric Centers 110,984 1,318 Harnischfeger Industries Inc. 65,790 1,283 Yellow Corp. 72,782 1,246 Eastern Enterprises 54,265 1,241 NACCO Industries, Inc. Class A 23,001 1,236 Oneok, Inc. 68,495 1,173 * Intergraph Corp. 120,006 1,125 Kaufman & Broad Home Corp. 83,958 1,123 Bassett Furniture Industries, Inc. 37,114 1,039 Outboard Marine Corp. 50,487 1,010 * Ryan's Family Steak Houses, Inc. 141,275 989 * USAir Group, Inc. 151,060 963 * Zenith Electronics Corp. 102,164 907 Handleman Co. 85,852 869 * Bally Entertainment Corp. 120,415 783 First Mississippi Corp. 51,070 779 Rollins Environmental Services, Inc. 155,094 737 Gerber Products Co. 13,956 712 * Data General Corp. 90,392 701 Zurn Industries, Inc. 31,409 636 * National Intergroup, Inc. 33,250 582 SPX Corp. 35,559 551 Skyline Corp. 29,040 537 * M/A-Com, Inc. 65,052 520
11 12 STATEMENT OF NET ASSETS (continued)
Market Value Shares (000)+ - - --------------------------------------------------------------- Oshkosh B Gosh, Inc. Class A 37,490 $ 515 * Hartmarx Corp. 82,015 502 * National Education Corp. 76,090 428 * Genesco, Inc. 62,490 203 - - --------------------------------------------------------------- TOTAL COMMON STOCKS (98.2%)(1) (Cost $7,464,317) 8,277,532 - - --------------------------------------------------------------- TEMPORARY CASH INVESTMENTS (1.8%) - - ---------------------------------------------------------------
Face Amount (000) --------- U.S. TREASURY BILL--Note D 4.26%, 9/22/94 $ 9,000 8,913 REPURCHASE AGREEMENT Collateralized by U.S. Government Obligations in a Pooled Cash Account 4.26%, 7/1/94 144,205 144,205 - - --------------------------------------------------------------- TOTAL TEMPORARY CASH INVESTMENTS (Cost $153,118) 153,118 - - --------------------------------------------------------------- TOTAL INVESTMENTS (100%) (Cost $7,617,435) 8,430,650 - - --------------------------------------------------------------- OTHER ASSETS AND LIABILITIES - - --------------------------------------------------------------- Other Assets--Notes B and E 82,902 Liabilities--Note E (80,853) ---------- 2,049 - - --------------------------------------------------------------- NET ASSETS (100%) - - --------------------------------------------------------------- Applicable to 201,693,335 outstanding shares of beneficial interest (unlimited authorization) $8,432,699 - - --------------------------------------------------------------- NET ASSET VALUE PER SHARE $41.81 ===============================================================
+ See Note A to Financial Statements. * Non-Income Producing Security. (1) The combined market value of common stocks and Standard & Poor's 500 Index futures contracts represents 100.0% of net assets.
- - ------------------------------------------------------------- AT JUNE 30, 1994, NET ASSETS CONSISTED OF: - - ------------------------------------------------------------- Amount Per (000) Share ----------- -------- Paid in Capital--Note C $7,597,435 $37.67 Undistributed Net Investment Income 36,521 .18 Overdistributed Net Realized Gains--Note C (8,755) (.04) Unrealized Appreciation of Investments--Note D 807,498 4.00 - - ------------------------------------------------------------- NET ASSETS $8,432,699 $41.81 - - -------------------------------------------------------------
12 13 STATEMENT OF OPERATIONS
EXTENDED TOTAL STOCK 500 PORTFOLIO MARKET PORTFOLIO MARKET PORTFOLIO - - ----------------------------------------------------------------------------------------------------------------------- Six Months Ended Six Months Ended Six Months Ended June 30, 1994 June 30, 1994 June 30, 1994 (000) (000) (000) - - ----------------------------------------------------------------------------------------------------------------------- INVESTMENT INCOME INCOME Dividends . . . . . . . . . . $ 119,147 $ 7,361 $ 7,141 Interest . . . . . . . . . . 1,603 355 252 - - ---------------------------------------------------------------------------------------------------------------------- Total Income . . . . . . . . 120,750 7,716 7,393 - - ---------------------------------------------------------------------------------------------------------------------- EXPENSES The Vanguard Group--Note B Investment Advisory Services . . $ 23 $ 45 $ 45 Management and Administrative. . 6,170 682 374 Marketing and Distribution . . . 932 7,125 90 817 72 491 ------ ----- ----- Taxes (other than income taxes)--Note A . . . . . . . . . . 359 40 22 Custodians' Fees . . . . . . . . . . 65 43 37 Auditing Fees . . . . . . . . . . 11 5 5 Shareholders' Reports . . . . . . . 314 26 28 Annual Meeting and Proxy Costs . . . 57 5 6 Trustees' Fees and Expenses . . . . 24 3 1 - - ---------------------------------------------------------------------------------------------------------------------- Total Expenses . . . . . . . 7,955 939 590 - - ---------------------------------------------------------------------------------------------------------------------- Net Investment Income . . 112,795 6,777 6,803 - - ---------------------------------------------------------------------------------------------------------------------- REALIZED NET GAIN (LOSS) Investment Securities Sold . . . . . . . 14,605 29,574 1,207 Futures Contracts . . . . . . . . . . 3,993 (234) 173 - - ---------------------------------------------------------------------------------------------------------------------- Realized Net Gain (Loss) . . . . . . . . 18,598 29,340 1,380 - - ---------------------------------------------------------------------------------------------------------------------- CHANGE IN UNREALIZED APPRECIATION (DEPRECIATION) Investment Securities . . . . . . . (423,419) (91,471) (36,994) Futures Contracts . . . . . . . . . (5,716) (1,023) (392) - - ---------------------------------------------------------------------------------------------------------------------- Change in Unrealized Appreciation (Depreciation) . . . . (429,135) (92,494) (37,386) - - ---------------------------------------------------------------------------------------------------------------------- Net Decrease in Net Assets Resulting from Operations . . . . . . $(297,742) $(56,377) $(29,203) ======================================================================================================================
The Statements of Net Assets for the Extended Market, Total Stock Market, Growth, Value, and Small Capitalization Stock Portfolios, integral parts of the financial statements for each Portfolio, are included as an insert to this Report. 13 14 STATEMENT OF OPERATIONS (continued)
SMALL GROWTH VALUE CAPITALIZATION PORTFOLIO PORTFOLIO STOCK PORTFOLIO* - - ---------------------------------------------------------------------------------------------------------------------- Six Months Ended Six Months Ended February 1 to June 30, 1994 June 30, 1994 June 30, 1994 (000) (000) (000) - - ---------------------------------------------------------------------------------------------------------------------- INVESTMENT INCOME INCOME Dividends . . . . . . . . . . $ 648 $ 4,214 $ 3,131 Interest . . . . . . . . . . 7 76 166 - - ---------------------------------------------------------------------------------------------------------------------- Total Income . . . . . . . . 655 4,290 3,297 - - ---------------------------------------------------------------------------------------------------------------------- EXPENSES The Vanguard Group--Note B Investment Advisory Services . . $23 $ 20 $ 30 Management and Administrative . 5 167 248 Marketing and Distribution . . . 7 35 24 211 43 321 --- ---- ---- Taxes (other than income taxes)--Note A . . . . . . . . . . 2 8 28 Custodians' Fees . . . . . . . . . . 4 9 5 Auditing Fees . . . . . . . . . . 4 4 5 Shareholders' Reports . . . . . . . 8 18 38 Annual Meeting and Proxy Costs . . . 1 2 5 Trustees' Fees and Expenses . . . . -- 1 -- - - ---------------------------------------------------------------------------------------------------------------------- Total Expenses . . . . . . . 54 253 402 - - ---------------------------------------------------------------------------------------------------------------------- Net Investment Income . 601 4,037 2,895 - - ---------------------------------------------------------------------------------------------------------------------- REALIZED NET GAIN (LOSS) Investment Securities Sold . . . . . (248) 2,206 13,004 Futures Contracts . . . . . . . . . -- -- (311) - - ---------------------------------------------------------------------------------------------------------------------- Realized Net Gain (Loss) . . . . . . . . (248) 2,206 12,693 - - ---------------------------------------------------------------------------------------------------------------------- CHANGE IN UNREALIZED APPRECIATION (DEPRECIATION) Investment Securities . . . . . . . (2,842) (14,749) (65,201) Futures Contracts . . . . . . . . . -- -- (563) - - ---------------------------------------------------------------------------------------------------------------------- Change in Unrealized Appreciation (Depreciation) . . . (2,842) (14,749) (65,764) - - ---------------------------------------------------------------------------------------------------------------------- Net Decrease in Net Assets Resulting from Operations . . . . . $(2,489) $ (8,506) $(50,176) ======================================================================================================================
* See Note F to Financial Statements. 14 15 STATEMENT OF CHANGES IN NET ASSETS
EXTENDED 500 PORTFOLIO MARKET PORTFOLIO - - ---------------------------------------------------------------------------------------------------------------------- SIX MONTHS Year Ended SIX MONTHS Year Ended ENDED JUNE 30, December 31, ENDED JUNE 30, December 31, 1994 1993 1994 1993 (000) (000) (000) (000) - - ---------------------------------------------------------------------------------------------------------------------- INCREASE (DECREASE) IN NET ASSETS OPERATIONS Net Investment Income . . . . . . . $ 112,795 $ 200,575 $ 6,777 $ 10,621 Realized Net Gain (Loss) . . . . . . 18,598 173,055 29,340 15,802 Change in Unrealized Appreciation (Depreciation) . . . . . . . . (429,135) 339,279 (92,494) 65,663 - - ---------------------------------------------------------------------------------------------------------------------- Net Increase (Decrease) in Net Assets Resulting from Operations . . . . (297,742) 712,909 (56,377) 92,086 - - ---------------------------------------------------------------------------------------------------------------------- DISTRIBUTIONS (1) Net Investment Income . . . . . . . (86,732) (205,138) -- (10,600) Realized Net Gain . . . . . . . . (15,455) (5,173) (6,869) (9,116) - - ---------------------------------------------------------------------------------------------------------------------- Total Distributions . . . . (102,187) (210,311) (6,869) (19,716) - - ---------------------------------------------------------------------------------------------------------------------- NET EQUALIZATION CREDITS--Note A . . . 2,502 5,377 -- -- - - ---------------------------------------------------------------------------------------------------------------------- CAPITAL SHARE TRANSACTIONS (2) Issued -- Regular . . . . . . . 1,170,874 2,390,015 104,207 193,349 -- In Lieu of Cash Distributions . . . 91,033 186,995 6,465 17,892 -- Exchange . . . . . . 253,831 415,159 32,341 195,523 Redeemed -- Regular . . . . . . . (701,644) (1,262,521) (66,937) (69,797) -- Exchange . . . . . . (256,665) (512,215) (22,028) (66,211) - - ---------------------------------------------------------------------------------------------------------------------- Net Increase from Capital Share Transactions . . . 557,429 1,217,433 54,048 270,756 - - ---------------------------------------------------------------------------------------------------------------------- Total Increase (Decrease) . 160,002 1,725,408 (9,198) 343,126 NET ASSETS Beginning of Period . . . . . . . . 8,272,697 6,547,289 927,971 584,845 - - ---------------------------------------------------------------------------------------------------------------------- End of Period (3) . . . . . . . . $8,432,699 $ 8,272,697 $918,773 $927,971 ====================================================================================================================== (1) Distributions Per Share Net Investment Income . . . $ .44 $ 1.13 -- $ .23 Realized Net Gain . . . . . $ .08 $ .03 $ .14 $ .20 - - ---------------------------------------------------------------------------------------------------------------------- (2) Shares Issued and Redeemed Issued . . . . . . . . . . . 33,070 66,438 7,020 20,530 Issued in Lieu of Cash Distributions . . . . . . 2,104 4,353 324 929 Redeemed . . . . . . . . . . (22,238) (41,844) (4,609) (7,408) - - ---------------------------------------------------------------------------------------------------------------------- 12,936 28,947 2,735 14,051 - - ---------------------------------------------------------------------------------------------------------------------- (3) Undistributed (Overdistributed) Net Investment Income . . . . $ 36,521 $ 7,956 $ 6,630 $ (147) - - ----------------------------------------------------------------------------------------------------------------------
15 16 STATEMENT OF CHANGES IN NET ASSETS (continued)
TOTAL MARKET PORTFOLIO GROWTH PORTFOLIO - - ---------------------------------------------------------------------------------------------------------------------- SIX MONTHS Year Ended SIX MONTHS Year Ended ENDED JUNE 30, December 31, ENDED JUNE 30, December 31, 1994 1993 1994 1993 (000) (000) (000) (000) - - ---------------------------------------------------------------------------------------------------------------------- INCREASE (DECREASE) IN NET ASSETS OPERATIONS Net Investment Income . . . . . . . $ 6,803 $ 9,622 $ 601 $ 866 Realized Net Gain (Loss) . . . . . . 1,380 1,055 (248) (614) Change in Unrealized Appreciation (Depreciation) . . . . . . . . (37,386) 31,282 (2,842) 788 - - ---------------------------------------------------------------------------------------------------------------------- Net Increase (Decrease) in Net Assets Resulting from Operations . . . . (29,203) 41,959 (2,489) 1,040 - - ---------------------------------------------------------------------------------------------------------------------- DISTRIBUTIONS (1) Net Investment Income . . . . . . . (6,447) (10,140) (559) (931) Realized Net Gain . . . . . . . . -- (1,183) -- -- - - ---------------------------------------------------------------------------------------------------------------------- Total Distributions . . . . (6,447) (11,323) (559) (931) - - ---------------------------------------------------------------------------------------------------------------------- NET EQUALIZATION CREDITS--Note A . . . 330 563 21 56 - - ---------------------------------------------------------------------------------------------------------------------- CAPITAL SHARE TRANSACTIONS (2) Issued -- Regular . . . . . . . 167,427 242,858 12,209 33,148 -- In Lieu of Cash Distributions . . . 5,462 9,421 505 828 -- Exchange . . . . . . 31,143 37,291 6,899 19,111 Redeemed -- Regular . . . . . . . (21,176) (33,241) (3,334) (7,457) -- Exchange . . . . . . (20,564) (50,647) (6,420) (16,269) - - ---------------------------------------------------------------------------------------------------------------------- Net Increase from Capital Share Transactions . . . . 162,292 205,682 9,859 29,361 - - ---------------------------------------------------------------------------------------------------------------------- Total Increase (Decrease) . 126,972 236,881 6,832 29,526 - - ---------------------------------------------------------------------------------------------------------------------- NET ASSETS Beginning of Period . . . . . . . . 512,282 275,401 50,624 21,098 - - ---------------------------------------------------------------------------------------------------------------------- End of Period (3) . . . . . . . . $639,254 $512,282 $57,456 $ 50,624 ====================================================================================================================== (1) Distributions Per Share Net Investment Income . . . $ .12 $ .26 $ .10 $ .21 Realized Net Gain . . . . . -- $ .03 -- -- - - ---------------------------------------------------------------------------------------------------------------------- (2) Shares Issued and Redeemed Issued . . . . . . . . . . . 17,195 25,030 1,915 5,217 Issued in Lieu of Cash Distributions . . . . . . 475 829 51 83 Redeemed . . . . . . . . . . (3,617) (7,435) (971) (2,393) - - ---------------------------------------------------------------------------------------------------------------------- 14,053 18,424 995 2,907 - - ---------------------------------------------------------------------------------------------------------------------- (3) Undistributed (Overdistributed) Net Investment Income . . $ 644 $ (42) $ 48 $ (15) - - ----------------------------------------------------------------------------------------------------------------------
16 17
VALUE PORTFOLIO - - ---------------------------------------------------------------------------------------------------------------------- SIX MONTHS ENDED Year Ended JUNE 30, 1994 December 31, 1993 (000) (000) - - ---------------------------------------------------------------------------------------------------------------------- INCREASE (DECREASE) IN NET ASSETS OPERATIONS Net Investment Income . . . . . . . . . . . . . . . . . $ 4,037 $ 3,794 Realized Net Gain (Loss) . . . . . . . . . . . . . . . . 2,206 3,321 Change in Unrealized Appreciation (Depreciation) . . . . . . . . . . . . . . . . . . (14,749) 7,602 - - ---------------------------------------------------------------------------------------------------------------------- Net Increase (Decrease) in Net Assets Resulting from Operations . . . . . . . . . (8,506) 14,717 - - ---------------------------------------------------------------------------------------------------------------------- DISTRIBUTIONS (1) Net Investment Income . . . . . . . . . . . . . . . . . (3,380) (4,753) Realized Net Gain . . . . . . . . . . . . . . . . . . (2,486) (941) - - ---------------------------------------------------------------------------------------------------------------------- Total Distributions . . . . . . . . . . . . . . (5,866) (5,694) - - ---------------------------------------------------------------------------------------------------------------------- NET EQUALIZATION CREDITS--Note A . . . . . . . . . . . . . 494 925 - - ---------------------------------------------------------------------------------------------------------------------- CAPITAL SHARE TRANSACTIONS (2) Issued -- Regular . . . . . . . . . . . . . . . . . 58,488 97,039 -- In Lieu of Cash Distributions . . . . . . 5,407 5,139 -- Exchange . . . . . . . . . . . . . . . . 92,366 96,804 Redeemed -- Regular . . . . . . . . . . . . . . . . . (15,622) (13,743) -- Exchange . . . . . . . . . . . . . . . . (26,661) (28,619) - - ---------------------------------------------------------------------------------------------------------------------- Net Increase from Capital Share Transactions . . 113,978 156,620 - - ---------------------------------------------------------------------------------------------------------------------- Total Increase (Decrease) . . . . . . . . . . . 100,100 166,568 - - ---------------------------------------------------------------------------------------------------------------------- NET ASSETS Beginning of Period . . . . . . . . . . . . . . . . . . 190,111 23,543 - - ---------------------------------------------------------------------------------------------------------------------- End of Period (3) . . . . . . . . . . . . . . . . . . $290,211 $190,111 ====================================================================================================================== (1) Distributions Per Share Net Investment Income . . . . . . . . . . . . . $ .14 $ .38 Realized Net Gain . . . . . . . . . . . . . . . $ .11 $ .06 - - ---------------------------------------------------------------------------------------------------------------------- (2) Shares Issued and Redeemed Issued . . . . . . . . . . . . . . . . . . 12,871 17,153 Issued in Lieu of Cash Distributions . . . . . . 463 439 Redeemed . . . . . . . . . . . . . . . . . . (3,663) (3,680) - - ---------------------------------------------------------------------------------------------------------------------- 9,671 13,912 - - ---------------------------------------------------------------------------------------------------------------------- (3) Undistributed (Overdistributed) Net Investment Income . . . . . . . . . . . $ 1,122 $ (29) - - ----------------------------------------------------------------------------------------------------------------------
17 18 STATEMENT OF CHANGES IN NET ASSETS (continued)
SMALL CAPITALIZATION STOCK PORTFOLIO* - - -------------------------------------------------------------------------------------------------------------------------- FEBRUARY 1 TO OCTOBER 1, 1993, TO Year Ended JUNE 30, 1994 JANUARY 31, 1994 September 30, 1993 (000) (000) (000) - - -------------------------------------------------------------------------------------------------------------------------- INCREASE (DECREASE) IN NET ASSETS Operations Net Investment Income . . . . . . . . . . . . . . . . . $ 2,895 $ 1,836 $ 4,653 Realized Net Gain (Loss) . . . . . . . . . . . . . . . . 12,693 1,459 22,606 Change in Unrealized Appreciation (Depreciation) . . . . (65,764) 27,298 51,362 - - ------------------------------------------------------------------------------------------------------------------------- Net Increase (Decrease) in Net Assets Resulting from Operations . . . . . . . . . . . (50,176) 30,593 78,621 - - ------------------------------------------------------------------------------------------------------------------------- DISTRIBUTIONS (1) Net Investment Income . . . . . . . . . . . . . . . . . -- (5,260) (3,245) Realized Net Gain . . . . . . . . . . . . . . . . . . -- (23,961) (2,705) - - ------------------------------------------------------------------------------------------------------------------------- Total Distributions . . . . . . . . . . . . . . . . -- (29,221) (5,950) - - ------------------------------------------------------------------------------------------------------------------------- NET EQUALIZATION CREDITS--Note A . . . . . . . . . . . . . -- -- -- - - ------------------------------------------------------------------------------------------------------------------------- CAPITAL SHARE TRANSACTIONS (2) Issued -- Regular . . . . . . . . . . . . . . . . . 62,919 66,720 134,318 -- In Lieu of Cash Distributions . . . . . . -- 27,115 5,199 -- Exchange . . . . . . . . . . . . . . . . 32,613 41,937 86,107 Redeemed -- Regular . . . . . . . . . . . . . . . . . (20,807) (22,010) (24,260) -- Exchange . . . . . . . . . . . . . . . . (21,439) (13,584) (43,946) - - ------------------------------------------------------------------------------------------------------------------------- Net Increase from Capital Share Transactions . . . . 53,286 100,178 157,418 - - ------------------------------------------------------------------------------------------------------------------------- Total Increase (Decrease) . . . . . . . . . . . . . 3,110 101,550 230,089 - - ------------------------------------------------------------------------------------------------------------------------- NET ASSETS Beginning of Period . . . . . . . . . . . . . . . . . . 533,389 431,839 201,750 - - ------------------------------------------------------------------------------------------------------------------------- End of Period (3) . . . . . . . . . . . . . . . . . . $536,499 $533,389 $431,839 ========================================================================================================================= (1) Distributions Per Share Net Investment Income . . . . . . . . . . . . . -- $ .18 $ .18 Realized Net Gain . . . . . . . . . . . . . . . -- $ .82 $ .15 - - ------------------------------------------------------------------------------------------------------------------------- (2) Shares Issued and Redeemed Issued . . . . . . . . . . . . . . . . . . 6,014 6,660 14,929 Issued in Lieu of Cash Distributions . . . . . . -- 1,785 379 Redeemed . . . . . . . . . . . . . . . . . . (2,716) (2,214) (4,663) - - ------------------------------------------------------------------------------------------------------------------------- 3,298 6,231 10,645 - - ------------------------------------------------------------------------------------------------------------------------- (3) Undistributed (Overdistributed) Net Investment Income . . . . . . . . . . . $ 3,115 $ 220 $ 3,644 - - -------------------------------------------------------------------------------------------------------------------------
* See Note F to Financial Statements. 18 19 FINANCIAL HIGHLIGHTS
500 PORTFOLIO - - ---------------------------------------------------------------------------------------------------------------------------------- Year Ended December 31, SIX MONTHS ENDED ------------------------------------------------- For a Share Outstanding Throughout Each Period JUNE 30, 1994 1993 1992 1991 1990 1989 - - ---------------------------------------------------------------------------------------------------------------------------------- NET ASSET VALUE, BEGINNING OF PERIOD . . . . . . . . . . . $43.83 $40.97 $39.32 $31.24 $33.64 $27.18 ------- ------- ------- ------- ------- ------- INVESTMENT OPERATIONS Net Investment Income . . . . . . . . . . . . . . . . . .58 1.13 1.12 1.15 1.17 1.20 Net Realized and Unrealized Gain (Loss) on Investments . . . . . . . . . . . . . . . (2.12) 2.89 1.75 8.20 (2.30) 7.21 ------- ------- ------- ------- ------- ------- TOTAL FROM INVESTMENT OPERATIONS . . . . . . . (1.54) 4.02 2.87 9.35 (1.13) 8.41 - - ---------------------------------------------------------------------------------------------------------------------------------- DISTRIBUTIONS Dividends from Net Investment Income . . . . . . . . . . (.44) (1.13) (1.12) (1.15) (1.17) (1.20) Distributions from Realized Capital Gains . . . . . . . (.08) (.03) (.10) (.12) (.10) (.75) ------- ------- ------- ------- ------- ------- TOTAL DISTRIBUTIONS . . . . . . . . . . . . . . (.48) (1.16) (1.22) (1.27) (1.27) (1.95) - - ---------------------------------------------------------------------------------------------------------------------------------- NET ASSET VALUE, END OF PERIOD . . . . . . . . . . . . . . $41.81 $43.83 $40.97 $39.32 $31.24 $33.64 ================================================================================================================================== TOTAL RETURN** . . . . . . . . . . . . . . . . . . -3.46% +9.89% +7.42% +30.22% -3.32% +31.36% - - ---------------------------------------------------------------------------------------------------------------------------------- RATIOS/SUPPLEMENTAL DATA - - ------------------------ Net Assets, End of Period (Millions) . . . . . . . . . . . $8,433 $8,273 $6,547 $4,345 $2,173 $1,804 Ratio of Expenses to Average Net Assets . . . . . . . . . . .19%* .19% .19% .20% .22% .21% Ratio of Net Investment Income to Average Net Assets . . . . . . . . . . . . . . . . . . 2.68%* 2.65% 2.81% 3.07% 3.60% 3.62% Portfolio Turnover Rate . . . . . . . . . . . . . . . . . . 7%*+ 6%+ 4%+ 5%+ 23%+ 8% - - ----------------------------------------------------------------------------------------------------------------------------------
* Annualized. ** Total return figures do not reflect the annual account maintenance fee of $10. + Portfolio turnover rates excluding in-kind redemptions were 6%, 2%, 1%, 1%, and 6%. 19 20 FINANCIAL HIGHLIGHTS (continued)
EXTENDED MARKET PORTFOLIO - - ---------------------------------------------------------------------------------------------------------------------------------- Year Ended December 31, SIX MONTHS ENDED --------------------------------------------------- For a Share Outstanding Throughout Each Period JUNE 30, 1994 1993 1992 1991 1990 1989 - - ---------------------------------------------------------------------------------------------------------------------------------- NET ASSET VALUE, BEGINNING OF PERIOD . . . . . . . . . . . $19.43 $17.35 $15.82 $11.48 $13.92 $11.60 ------ ------ ------ ------ ------ ------ INVESTMENT OPERATIONS Net Investment Income . . . . . . . . . . . . . . . . . .13 .23 .24 .25 .30 .26 Net Realized and Unrealized Gain (Loss) on Investments . . . . . . . . . . . . . . . (1.23) 2.28 1.72 4.54 (2.25) 2.52 ------ ------ ------ ------ ------ ------ TOTAL FROM INVESTMENT OPERATIONS . . . . . . . (1.10) 2.51 1.96 4.79 (1.95) 2.78 - - ---------------------------------------------------------------------------------------------------------------------------------- DISTRIBUTIONS Dividends from Net Investment Income . . . . . . . . . . -- (.23) (.25) (.25) (.33) (.23) Distributions from Realized Capital Gains . . . . . . . (.14) (.20) (.18) (.20) (.16) (.23) ------ ------ ------ ------ ------ ------ TOTAL DISTRIBUTIONS . . . . . . . . . . . . . . (.14) (.43) (.43) (.45) (.49) (.46) - - ---------------------------------------------------------------------------------------------------------------------------------- NET ASSET VALUE, END OF PERIOD . . . . . . . . . . . . . . $18.19 $19.43 $17.35 $15.82 $11.48 $13.92 ================================================================================================================================== TOTAL RETURN** . . . . . . . . . . . . . . . . . . -5.73% +14.49% +12.47% +41.85% -14.05% +24.10% - - ---------------------------------------------------------------------------------------------------------------------------------- RATIOS/SUPPLEMENTAL DATA - - ------------------------ Net Assets, End of Period (Millions) . . . . . . . . . . . $919 $928 $585 $372 $179 $147 Ratio of Expenses to Average Net Assets . . . . . . . . . . .20%* .20% .20% .19% .23% .23% Ratio of Net Investment Income to Average Net Assets . . . . . . . . . . . . . . . . . . 1.44%* 1.48% 1.73% 2.14% 2.68% 2.92% Portfolio Turnover Rate . . . . . . . . . . . . . . . . . . 23%* 13% 9% 11% 9% 14% - - ----------------------------------------------------------------------------------------------------------------------------------
* Annualized. ** Total return figures do not reflect the 1% transaction fee on purchases or the annual account maintenance fee of $10. 20 21
TOTAL STOCK MARKET PORTFOLIO - - -------------------------------------------------------------------------------------------------------------------------- SIX MONTHS ENDED Year Ended March 16 to For a Share Outstanding Throughout Each Period JUNE 30, 1994 December 31, 1993 December 31, 1992 - - -------------------------------------------------------------------------------------------------------------------------- NET ASSET VALUE, BEGINNING OF PERIOD . . . . . . . . . . . $11.69 $10.84 $10.00 ------- ------- ------- INVESTMENT OPERATIONS Net Investment Income . . . . . . . . . . . . . . . . . .13 .26 .23 Net Realized and Unrealized Gain (Loss) on Investments . . . . . . . . . . . . . . . (.66) .88 .84 ------- ------- ------- TOTAL FROM INVESTMENT OPERATIONS . . . . . . . (.53) 1.14 1.07 - - ------------------------------------------------------------------------------------------------------------------------- DISTRIBUTIONS Dividends from Net Investment Income . . . . . . . . . . (.12) (.26) (.23) Distributions from Realized Capital Gains . . . . . . . -- (.03) -- ------- ------- ------- TOTAL DISTRIBUTIONS . . . . . . . . . . . . . . (.12) (.29) (.23) - - ------------------------------------------------------------------------------------------------------------------------- NET ASSET VALUE, END OF PERIOD . . . . . . . . . . . . . . $11.04 $11.69 $10.84 ========================================================================================================================= TOTAL RETURN** . . . . . . . . . . . . . . . . . . -4.58% +10.62% +10.41% - - ------------------------------------------------------------------------------------------------------------------------- RATIOS/SUPPLEMENTAL DATA - - ------------------------ Net Assets, End of Period (Millions) . . . . . . . . . . . $639 $512 $275 Ratio of Expenses to Average Net Assets . . . . . . . . . . .20%* .20% .21%* Ratio of Net Investment Income to Average Net Assets . . . . . . . . . . . . . . . . . . 2.31%* 2.31% 2.42%* Portfolio Turnover Rate . . . . . . . . . . . . . . . . . . 3%* 1% 3% - - -------------------------------------------------------------------------------------------------------------------------
* Annualized. ** Total return figures do not reflect the .25% transaction fee on purchases or the annual account maintenance fee of $10. Subscription period for the Portfolio was from March 16, 1992, to April 26, 1992, during which time all assets were held in money market instruments. Performance measurement begins on April 27, 1992. 21 22 FINANCIAL HIGHLIGHTS (continued)
GROWTH PORTFOLIO - - -------------------------------------------------------------------------------------------------------------------------- SIX MONTHS ENDED Year Ended November 2 to For a Share Outstanding Throughout Each Period JUNE 30, 1994 December 31, 1993 December 31, 1992 - - -------------------------------------------------------------------------------------------------------------------------- NET ASSET VALUE, BEGINNING OF PERIOD . . . . . . . . . . . $10.20 $10.26 $10.00 ------ ------ ------ INVESTMENT OPERATIONS Net Investment Income . . . . . . . . . . . . . . . . . .11 .21 .06 Net Realized and Unrealized Gain (Loss) on Investments . . . . . . . . . . . . . . . (57) (.06) .26 ------ ------ ------ TOTAL FROM INVESTMENT OPERATIONS . . . . . . . . (.46) .15 .32 - - ------------------------------------------------------------------------------------------------------------------------- DISTRIBUTIONS Dividends from Net Investment Income . . . . . . . . . . (.10) (.21) (.06) Distributions from Realized Capital Gains . . . . . . . -- -- -- ------ ------ ------ TOTAL DISTRIBUTIONS . . . . . . . . . . . . . . (.10) (.21) (.06) - - ------------------------------------------------------------------------------------------------------------------------- NET ASSET VALUE, END OF PERIOD . . . . . . . . . . . . . . $9.64 $10.20 $10.26 ========================================================================================================================= TOTAL RETURN** . . . . . . . . . . . . . . . . . . -4.54% +1.53% +3.19% - - ------------------------------------------------------------------------------------------------------------------------- RATIOS/SUPPLEMENTAL DATA - - ------------------------ Net Assets, End of Period (Millions) . . . . . . . . . . . $57 $51 $21 Ratio of Expenses to Average Net Assets . . . . . . . . . . .20%* .20% 0%* Ratio of Net Investment Income to Average Net Assets . . . . . . . . . . . . . . . . . . 2.22%* 2.10% 2.85%* Portfolio Turnover Rate . . . . . . . . . . . . . . . . . . 33%* 36% 2% - - -------------------------------------------------------------------------------------------------------------------------
* Annualized. ** Total return figures do not reflect the annual account maintenance fee of $10. 22 23
VALUE PORTFOLIO - - -------------------------------------------------------------------------------------------------------------------------- SIX MONTHS ENDED Year Ended November 2 to For a Share Outstanding Throughout Each Period JUNE 30, 1994 December 31, 1993 December 31, 1992 - - -------------------------------------------------------------------------------------------------------------------------- NET ASSET VALUE, BEGINNING OF PERIOD . . . . . . . . . . . $11.74 $10.30 $10.00 ------ ------ ------ INVESTMENT OPERATIONS Net Investment Income . . . . . . . . . . . . . . . . . .18 .38 .07 Net Realized and Unrealized Gain (Loss) on Investments . . . . . . . . . . . . . . . (.45) 1.50 .30 ------ ------ ------ TOTAL FROM INVESTMENT OPERATIONS . . . . . . . (.27) 1.88 .37 - - ------------------------------------------------------------------------------------------------------------------------- DISTRIBUTIONS Dividends from Net Investment Income . . . . . . . . . . (.14) (.38) (.07) Distributions from Realized Capital Gains . . . . . . . (.11) (.06) -- ------ ------ ------ TOTAL DISTRIBUTIONS . . . . . . . . . . . . . . (.25) (.44) (.07) - - ------------------------------------------------------------------------------------------------------------------------- NET ASSET VALUE, END OF PERIOD . . . . . . . . . . . . . . $11.22 $11.74 $10.30 ========================================================================================================================= TOTAL RETURN** . . . . . . . . . . . . . . . . . . . . . . -2.38% +18.35% +3.70% - - ------------------------------------------------------------------------------------------------------------------------- RATIOS/SUPPLEMENTAL DATA - - ------------------------ Net Assets, End of Period (Millions) . . . . . . . . . . . $290 $190 $24 Ratio of Expenses to Average Net Assets . . . . . . . . . . .20%* .20% 0%* Ratio of Net Investment Income to Average Net Assets . . . . . . . . . . . . . . . . . . . 3.21%* 3.26% 3.46%* Portfolio Turnover Rate . . . . . . . . . . . . . . . . . . 32%* 30% 4% - - -------------------------------------------------------------------------------------------------------------------------
* Annualized. ** Total return figures do not reflect the annual account maintenance fee of $10. 23 24 EFINANCIAL HIGHLIGHTS (continued)
SMALL CAPITALIZATION STOCK PORTFOLIO(1) - - ----------------------------------------------------------------------------------------------------------------------------------- Feb. 1 to Oct. 1, 1993 Year Ended September 30, June 30, to Jan. 31, --------------------------------------------- For a Share Outstanding Throughout Each Period(2) 1994 1994 1993 1992 1991 1990(3) 1989 - - ----------------------------------------------------------------------------------------------------------------------------------- NET ASSET VALUE, BEGINNING OF PERIOD . . . . . . . . . . . $16.24 $16.23 $12.63 $12.03 $8.55 $11.88 $11.96 ------ ------ ------ ------ ----- ------ ------ INVESTMENT ACTIVITIES Net Investment Income . . . . . . . . . . . . . . . . . .08 .05 .20 .19 .20 17 .10 Net Realized and Unrealized Gain (Loss) on Investments . . . . . . . . . . . . . (1.48) .96 3.73 .88 3.60 (3.46) 2.13 ------ ------ ------ ------ ----- ------ ------ Total From Investment Activities . . . . . . . . . . . . . . . . . (1.40) 1.01 3.93 1.07 3.80 (3.29) 2.23 - - ----------------------------------------------------------------------------------------------------------------------------------- DISTRIBUTIONS Dividends from Net Investment Income . . . . . . . . . . . . . . . -- (.18) (.18) (.18) (.18) (.04) (.14) Distributions from Realized Capital Gains . . . . . . . . . . . . . . . -- (.82) (.15) (.29) (.14) -- (2.17) ------ ------ ------ ------ ----- ------ ------ TOTAL DISTRIBUTIONS . . . . . . . . . . . . . . -- (1.00) (.33) (.47) (.32) (.04) (2.31) - - ----------------------------------------------------------------------------------------------------------------------------------- NET ASSET VALUE, END OF PERIOD . . . . . . . . . . . . . . $14.84 $16.24 $16.23 $12.63 $12.03 $8.55 $11.88 =================================================================================================================================== TOTAL RETURN(4) . . . . . . . . . . . . . . . . . . -8.62% +6.65% +31.60% +9.34% +45.91% -27.73% +18.83% - - ----------------------------------------------------------------------------------------------------------------------------------- RATIOS/SUPPLEMENTAL DATA - - ------------------------ Net Assets, End of Period (Millions) . . . . . . . . . . . $536 $533 $432 $202 $111 $40 $20 Ratio of Expenses to Average Net Assets . . . . . . . . . . .18%* .18%* .18% .18% .21% .31% 1.00% Ratio of Net Investment Income to Average Net Assets . . . . . . . . . . . . . . . . . . 1.29%* 1.16%* 1.47% 1.65% 2.11% 1.91% .65% Portfolio Turnover Rate . . . . . . . . . . . . . . . . . . 48%* 5%* 26% 26% 33% 40% 160% - - -----------------------------------------------------------------------------------------------------------------------------------
(1) Results prior to January 31, 1994, are for the former Vanguard Small Capitalization Stock Fund. See Note F to Financial Statements. (2) Adjusted to reflect a 3-for-1 stock split as of February 23, 1990. (3) Prior to September 11, 1989, Schroder Capital Management International, Inc. provided investment advisory services to the Fund. Effective September 11, 1989, The Vanguard Group, Inc. provides investment advisory services on an at-cost basis. (4) Total return figures do not reflect the 1% transaction fee on purchases or the annual account maintenance fee of $10. * Annualized. 24 25 NOTES TO FINANCIAL STATEMENTS Vanguard Index Trust is registered under the Investment Company Act of 1940 as a diversified open-end investment company, and consists of the 500, Extended Market, Total Stock Market, Growth, Value, and Small Capitalization Stock Portfolios. * A. The following significant accounting policies are in conformity with generally accepted accounting principles for investment companies. Such policies are consistently followed by the Trust in the preparation of financial statements. 1. SECURITY VALUATION: Securities listed on an exchange are valued at the latest quoted sales prices as of 4:00 PM on the valuation date; securities not traded are valued at the mean of the latest quoted bid and asked prices. Unlisted securities held by the 500, Growth, and Value Portfolios are valued at the latest quoted bid prices; such securities held by the Extended Market, Total Stock Market, and Small Capitalization Stock Portfolios are valued at the mean of the latest quoted bid and asked prices. Temporary cash investments are valued at amortized cost which approximates market value. 2. FEDERAL INCOME TAXES: Each Portfolio of the Trust intends to continue to qualify as a regulated investment company and distribute all of its taxable income. Accordingly, no provision for Federal income taxes is required in the financial statements. 3. EQUALIZATION: The 500, Total Stock Market, Growth, and Value Portfolios follow the accounting practice known as "equalization," under which a portion of the price of capital shares issued and redeemed, equivalent to undistributed net investment income per share on the date of the transaction, is credited or charged to undistributed income. As a result, undistributed income per share is unaffected by Portfolio share sales or redemptions. 4. REPURCHASE AGREEMENTS: The Trust, along with other members of The Vanguard Group of Investment Companies, transfers uninvested cash balances into a Pooled Cash Account, the daily aggregate of which is invested in repurchase agreements secured by U.S. Government obligations. Securities pledged as collateral for repurchase agreements are held by the Trust's custodian banks until maturity of each repurchase agreement. Provisions of each agreement ensure that the market value of this collateral is sufficient in the event of default; however, in the event of default or bankruptcy by the other party to the agreement, realization and/or retention of the collateral may be subject to legal proceedings. 5. FUTURES AND OPTIONS: The Trust may utilize index futures contracts and options to a limited extent. The primary risks associated with the use of futures contracts and options are imperfect correlation between the change in market value of the securities held by the Trust and the prices of futures contracts and options, and the possibility of an illiquid market. Futures contracts and purchased options are valued based upon their quoted daily settlement prices. The premium received for a written option is recorded as an asset with an equal liability which is marked to market based on the option's quoted daily settlement price. Fluctuations in the value of such instruments are accounted for as unrealized appreciation (depreciation) until the contracts are closed, at which time realized gains (losses) are recognized. Unrealized appreciation (depreciation) related to open futures contracts and options is required to be treated as realized gain (loss) for Federal income tax purposes. During the period ended June 30, 1994, the Trust had no options transactions. 6. OTHER: Security transactions are accounted for on the date the securities are purchased or sold. 25 26 NOTES TO FINANCIAL STATEMENTS (continued) Costs used in determining realized gains and losses on the sale of investment securities are those of specific securities sold. Dividend income and distributions to shareholders are recorded on the ex-dividend date. * B. The Vanguard Group, Inc. furnishes at cost investment advisory, corporate management, administrative, marketing and distribution services. The costs of such services are allocated to the Trust under methods approved by the Board of Trustees. At June 30, 1994, the Trust had contributed capital aggregating $1,754,000 to Vanguard (included in Other Assets), representing 8.8% of Vanguard's capitalization. The Trust's officers and trustees are also officers and directors of Vanguard. * C. During the period ended June 30, 1994, purchases and sales of investment securities other than U.S. Government securities and temporary cash investments were:
- - ----------------------------------------------------------- (000) -------------------------- Portfolio Purchases Sales - - ----------------------------------------------------------- 500 $744,080 $304,901 EXTENDED MARKET 157,061 105,158 TOTAL STOCK MARKET 170,559 7,822 GROWTH 18,602 8,924 VALUE 152,366 39,959 SMALL CAPITALIZATION STOCK 171,506 116,841 - - -----------------------------------------------------------
During the six months ended June 30, 1994, the 500 Portfolio and Extended Market Portfolio realized approximately $26,856,000 and $12,000, respectively of net capital gains resulting from in-kind redemptions. Such gains are not taxable income to the Portfolios and therefore will not be distributed to shareholders; accordingly, such gains have been reclassified from accumulated net realized gains to paid in capital. At December 31, 1993, the Growth Portfolio had available a capital loss carryforward of $184,000 to offset future net capital gains through December 31, 2001. * D. At June 30, 1994, unrealized appreciation (depreciation) of investment securities for financial reporting and Federal income tax purposes was:
- - --------------------------------------------------------------------------- (000) -------------------------------------------- Net Unrealized Appreciated Depreciated Appreciation Portfolio Securities Securities (Depreciation) - - --------------------------------------------------------------------------- 500 $1,244,447 $(431,232) $813,215 EXTENDED MARKET 160,204 (88,507) 71,697 TOTAL STOCK MARKET 57,389 (46,302) 11,087 GROWTH 2,312 (4,254) (1,942) VALUE 9,074 (15,836) (6,762) SMALL CAPITALIZATION STOCK 63,346 (43,418) 19,926 - - ---------------------------------------------------------------------------
At June 30, 1994, the aggregate settlement value of open Standard & Poor's 500 Index futures contracts (500 and Total Stock Market Portfolios), New York Stock Exchange Composite Index futures contracts (Extended Market and Small Capitalization Stock Portfolios), Standard & Poor's Midcap 400 Index futures contracts (Extended Market, Small Capitalization Stock, and Total Stock Market Portfolios), and Russell 2000 Index futures contracts (Extended Market and Small Capitalization Stock Portfolios) expiring in September 1994, the related unrealized depreciation, and the market value of securities deposited as initial margin for those contracts were:
- - --------------------------------------------------------------------------- (000) ------------------------------------------ Market Value Aggregate of Securities Settlement Unrealized Deposited as Portfolio Value Depreciation Initial Margin - - --------------------------------------------------------------------------- 500 $157,770 $(5,717) $8,913 EXTENDED MARKET 22,538 (921) 693 TOTAL STOCK MARKET 8,577 (318) 594 SMALL CAPITALIZATION STOCK 7,479 (312) 396 - - ---------------------------------------------------------------------------
26 27 * E. The market value of securities on loan to broker/dealers at June 30, 1994, and cash collateral received with respect to such loans were:
- - ----------------------------------------------------------- (000) ---------------------------- Market Value Cash of Loaned Collateral Portfolio Securities Received - - ----------------------------------------------------------- 500 $ 3,962 $ 4,370 EXTENDED MARKET 33,394 36,768 TOTAL STOCK MARKET 5,058 5,953 VALUE 165 185 SMALL CAPITALIZATION STOCK 17,844 19,630 - - -----------------------------------------------------------
* F. On January 28, 1994, shareholders of Vanguard Small Capitalization Stock Fund approved the tax-free reorganization of the Fund as the Small Capitalization Stock Portfolio of Vanguard Index Trust. Such reorganization was effective January 31, 1994. 27 28 STATEMENT OF NET ASSETS FINANCIAL STATEMENTS (unaudited) June 30, 1994
Market Value EXTENDED MARKET PORTFOLIO Shares (000)+ - - --------------------------------------------------------------- COMMON STOCKS - - --------------------------------------------------------------- AAR Corp. 26,800 $ 362 * ABT Building Products Corp. 18,900 425 * ADC Telecommunications, Inc. 17,200 699 AFLAC, Inc. 64,388 2,173 AES Corp. 44,036 837 * ALC Communications 19,800 609 A.L. Laboratories, Inc. 20,200 278 * AST Research, Inc. 30,400 429 ARCO Chemical Co. 59,900 2,718 AT&T Capital Corp. 26,800 616 * Abex, Inc. 82,800 600 * Acceptance Insurance Cos., Inc. 32,200 439 Acclaim Entertainment Inc. 27,400 443 * Ace Cash Express, Inc. 22,200 172 Aceto Corp. 22,326 346 * Acme Electric Corp. 17,100 145 * Acme Metals, Inc. 21,900 504 * Action Performance Cos., Inc. 48,650 249 Actava Group Inc. 50,600 436 * Acuson Corp. 39,338 516 Adaptec, Inc. 42,300 738 * Addington Resources, Inc. 27,100 447 ADIA Services, Inc. 19,400 685 Adobe Systems, Inc. 27,100 745 * Advanced Logic Research 25,700 127 * Advanced Marketing Services 6,200 31 * Advanced Polymer Systems 60,400 294 * Advanced Surgical, Inc. 98,200 264 * Advanced Technologies Laboratories, Inc. 46,137 600 ADVO, Inc. 28,675 437 Advanta Corp. Class A 24,700 877 * Agency Rent-a-Car, Inc. 41,476 459 * Air and Water Technologies Corp. Class A 39,087 357 Airborne Freight Corp. 17,710 615 Airgas, Inc. 20,900 551 Airtran Corp. 31,500 236 * Alaska Air Group, Inc. 25,000 372 Albany International Corp. 29,200 551 Albemarle Corp. 35,502 581 Alex Brown & Sons, Inc. 21,020 520 * Aldus Corp. 21,753 552 Alexander & Baldwin, Inc. 27,500 701 * Alexander's, Inc. 8,700 449 Alleghany Corp. 4,120 612 Allegheny Ludlum Corp. 42,379 784 Allegheny Power System, Inc. 70,600 1,483 The Allen Group, Inc. 27,140 478 * Alliance Pharmaceutical Corp. 44,200 425 Allied Capital Commercial Corp. 40,700 682 * Allied Products Corp. 37,100 538 Allmerica Property & Casualty Cos. 36,900 618 Allstate Corp. 54,700 1,299 ALLTEL Corp. 114,794 2,884 * Allwaste, Inc. 76,446 449 Aloette Cosmetics, Inc. 91,300 280 * Altera Corp. 20,100 570 * Alumax, Inc. 27,200 697 Amax Gold, Inc. 55,137 434 AMBAC, Inc. 21,078 827 Amcast Industrial Corp. 17,200 376 American Annuity Group Inc. 43,178 383 American Maize Products Co. Class A 19,200 394 American Maize Products Co. Class B 3,300 65 * American Management Systems, Inc. 24,945 586 * American Medical Holdings, Inc. 46,900 1,178 * American Medical Response, Inc. 19,300 497 American National Insurance Co. 16,050 756 American Power Conversion Corp. 53,800 867 American Premier Underwriters Inc. 27,200 683 American President Cos., Ltd. 18,754 420 * American Re Corp. 28,600 883 * American Science & Engineering, Inc. 46,900 146 American Software, Inc. Class A 52,550 263 * American Travellers Corp. 39,600 544 American Water Works Co., Inc. 19,083 518 * Americredit Corp. 63,500 373 Ameron, Inc. 9,500 337 Ametek, Inc. 29,000 428 AMPCO-Pittsburgh Corp. 28,700 186 * Amphenol Corp. 31,400 502
THE LISTINGS FOR EACH OF THE PORTFOLIOS BEGIN ON THE FOLLOWING PAGES: EXTENDED MARKET PORTFOLIO . . . . . . . . . . . 1 TOTAL STOCK MARKET PORTFOLIO . . . . . . . . . 17 GROWTH PORTFOLIO . . . . . . . . . . . . . . . 34 VALUE PORTFOLIO . . . . . . . . . . . . . . . . 37 SMALL CAPITALIZATION STOCK PORTFOLIO . . . . . 40
1 29
Market Value Shares (000)+ - - --------------------------------------------------------------- Amre, Inc. 35,700 $ 116 * Amrep Corp. 64,600 476 * Amsco International, Inc. 51,915 428 Amsouth Bancorp 30,826 967 Amtech Corp. 23,650 272 * Amylin Pharmaceuticals, Inc. 44,600 265 * Anacomp, Inc. 108,900 327 Anadarko Petroleum Corp. 35,600 1,820 * Analog Devices, Inc. 30,331 872 * Anchor Bancorp Inc. 36,400 569 * Anchor Gaming 26,200 308 * Andros Analyzers 20,600 368 Angelica Corp. 16,400 432 * Ann Taylor Stores Corp. 16,000 614 Antec Corp. 24,400 576 * Anthem Electronics, Inc. 17,686 367 Anthony Industries, Inc. 23,377 356 Aon Corp. 63,252 2,143 Apache Corp. 37,000 1,022 Apogee Enterprises, Inc. 31,700 424 Applebee's International, Inc. 36,000 436 * Applied Bioscience International, Inc. 68,500 398 Applied Materials, Inc. 50,000 2,134 Aptargroup Inc. 24,200 550 Aquarion Co. 14,408 366 Arbor Drugs, Inc. 23,300 437 Argonaut Group, Inc. 15,019 413 * Argosy Gaming Co. 34,700 507 Arkansas Best Corp. 39,100 494 Armor All Products Corp. 28,300 605 Arnold Industries, Inc. 29,600 573 * Arrow Electronics, Inc. 19,600 730 Arrow International, Inc. 24,200 484 * Artisoft, Inc. 35,696 531 Arvin Industries, Inc. 13,300 319 Ashland Coal Inc. 19,200 514 * Associated Communication Corp. Class B 23,100 580 Astro-Med, Inc. 33,350 308 * Astrosystems, Inc. 48,700 216 * Atari Corp. 81,700 235 * Guy F. Atkinson Co. of California 37,800 397 Atlanta Gas Light Co. 14,700 498 Atlantic Energy, Inc. 32,300 549 Atlantic Southeast Airlines Inc. 21,500 524 * Atlas Corp. 53,005 338 * Atmel Corp. 34,400 813 * Atrix Laboratories, Inc. 48,223 337 * Atwood Oceanics, Inc. 29,500 384 * Aurora 43,325 330 * Autofinance Group Inc. 36,720 408 Autotote Corp. 18,600 295 * Autozone, Inc. 90,200 2,199 * Avatar Holding, Inc. 13,700 495 Aviall Inc. 30,500 263 Avnet, Inc. 24,600 775 * Aztar Corp. 53,700 315 BB&T Financial Corp. 18,818 590 BHA Group Class A 21,100 211 * BHC Communications, Inc. Class A 15,700 1,201 * BJ Services Co. 26,000 536 * BMC Industries, Inc. 15,676 425 BSB Bancorp, Inc. 16,350 445 * BMC Software, Inc. 15,950 694 BWIP Inc. 17,600 306 * Back Yard Burgers, Inc. 48,400 248 Badger Meter, Inc. 13,000 291 Bairnco Corp. 14,800 65 J. Baker, Inc. 24,500 470 Baldor Electric Co. 23,820 557 Baldwin & Lyons, Inc. Class B 29,400 426 Ballard Medical Products 37,266 377 Baltimore Bancorp. 24,546 488 Bancorp Hawaii, Inc. 25,499 813 Bandag, Inc. 16,462 850 The Bank of New York Co., Inc. 117,220 3,385 Bank South Corp. 43,040 777 Bankers Life Holding Corp. 32,000 644 BanPonce Corp. 19,522 615 Banta Corp. 12,250 393 * Barnes & Noble Inc. 18,300 439 Barnwell Industries, Inc. 13,400 263 * Basin Exploration Inc. 38,400 322 Battle Mountain Gold Co. Class A 48,600 498 Baybanks, Inc. 11,500 690 Bear Stearns Co., Inc. 71,550 1,216 Bearings, Inc. 12,300 390 Beauticontrol Cosmetics 34,450 487 Beckman Instruments 18,400 465 Bed Bath and Beyond 20,100 575 Beeba's Creations, Inc. 66,114 248 A. H. Belo Corp. Class A 12,400 535 * Ben & Jerry's Homemade, Inc. Class A 22,200 372 Bergen Brunswig Corp. Class A 21,732 364 W. R. Berkley Corp. 11,300 439 * Berkshire Hathaway 728 11,830 * Berlitz International, Inc. 26,226 354 Berry Petroleum Class A 42,800 407 Best Buy, Inc. 31,700 915 * Best Power Technology, Inc. 23,200 383 Betz Laboratories, Inc. 17,400 737 BIC Corp. 14,700 419
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Market Value Shares (000)+ - - --------------------------------------------------------------- Bindly Western Industries, Inc. 28,400 $ 334 Binks Manufacturing Co. 15,550 323 * Bio-Rad Labs, Inc. Class A 22,000 399 * Biotechnology General 98,100 251 Biocraft Laboratories 24,900 339 * Biogen, Inc. 18,569 531 * Biomatrix, Inc. 40,300 237 * Biowhittaker Inc. 49,899 312 * Biospecifics Technology 33,000 303 Birmingham Steel Corp. 21,450 579 Blair Corp. 12,000 490 E.W. Blanch Holdings, Inc. 24,800 527 Blessings Corp. 14,350 429 * Block Development 55,200 84 Block Drug Co. Class A 11,986 384 Bob Evans Farms, Inc. 25,216 544 * Bolt Beranek and Newman, Inc. 34,400 413 Bombay Co. 24,562 316 Borg-Warner Automotive, Inc. 11,600 262 * Borland International, Inc. 45,629 468 Boston Bancorp 11,800 388 * Boston Chicken, Inc. 10,800 389 Boston Edison Co. 27,800 730 * Boston Scientific Corp. 59,300 749 * Boston Technology, Inc. 47,500 451 Bowater, Inc. 21,796 537 * Boyd Gaming Corp. 33,500 494 W.H. Brady Class A 9,600 437 * Breed Technological Inc. 24,000 666 Brinker International, Inc. 42,463 892 Brooke Group Ltd. 25,800 39 Brooklyn Union Gas Co. 28,150 686 Brush Wellman, Inc. 25,500 405 Buffets Inc. 28,600 525 * Builders Transport, Inc. 24,500 338 Burlington Coat Factory Warehouse Corp. 24,250 418 * Burlington Industries 40,800 597 Burlington Resources Coal Seamgas Royalty Trust 19,000 404 * Burr-Brown Corp. 40,600 325 Bush Industries, Inc. 18,450 470 CBI Industries, Inc. 23,559 660 CCB Financial Corp. 13,500 535 CCP Insurance, Inc. 17,900 365 * C-Cor Electronics, Inc. 19,700 478 * CII Financial, Inc. 26,300 141 CIPSCO, Inc. 20,900 533 CKE Restaurants Inc. 39,400 335 CMAC Investment Corp. 16,900 427 CML Group, Inc. 30,150 354 CMS Energy Corp. 51,239 1,070 CPI Corp. 26,300 437 * CNA Financial Corp. 41,000 2,521 CRS/Sirrine, Inc. 32,200 346 * C-TEC Corp. 14,800 377 * C-TEC Corp. Class B 11,100 326 * CUC International, Inc. 68,962 1,845 * Cablevision Systems Corp. Class B 10,500 491 * Cabletron Systems, Inc. 17,133 1,655 Cabot Corp. 11,100 567 Cabot Oil & Gas Corp. 33,264 694 * Cadence Design Systems, Inc. 27,800 466 * Caesars World, Inc. 14,600 529 * Calgene, Inc. 42,100 492 Calgon Carbon Corp. 40,400 555 * California Energy Co. 21,892 361 California Federal Bank Class A 52,768 620 Callaway Golf Co. 20,400 796 Calmat Co. 27,300 553 * Cambridge Biotech Corp. 33,900 17 * Canandaigua Wine Co., Inc. Class A 14,000 348 * Canandaigua Wine Co., Inc. Class B 6,375 174 Capitol American Financial Corp. 28,200 663 Capstead Mortgage Corp. 16,300 375 Cardinal Health, Inc. 20,850 1,016 Caremark International Inc. 42,900 713 Carlisle Co., Inc. 14,900 488 * Carmike Cinemas, Inc. Class A 17,200 314 Carnival Corp. Class A 87,864 3,888 Carolina Freight Corp. 29,800 283 Carpenter Technology Corp. 8,900 532 * Carrington Labs Inc. 30,500 259 Carter-Wallace, Inc. 27,900 520 Casey's General Stores 41,600 468 Cash America International Inc. 47,300 366 Casino Magic Corp. 51,000 290 A.M. Castle & Co. 20,350 463 * Catalina Lighting, Inc. 11,100 110 * Catellus Development Corp. 125,901 928 Cato Corp. Class A 26,900 340 * Cellular Communications Series A 11,400 544 * Celtrix Labs 55,500 333 * Centerbank Connecticut 39,200 681 Centerior Energy Corp. 88,800 899 Centerpoint Properties Corp. 8,400 172 * Centocor, Inc. 53,000 593 * Central Cooperative Bank 27,100 379 Central Fidelity Banks, Inc. 23,850 778 Central Hudson Gas & Electric Corp. 20,000 525 Central Louisiana Electric Co. 25,192 592 Central Maine Power Co. 25,855 297 Central Newspapers Inc. 14,750 418
3 31
Market Value Shares (000)+ - - --------------------------------------------------------------- * Central Sprinkler Corp. 28,525 $ 307 Central Vermont Public Service Corp. 23,600 345 Century Communications Corp. Class A 53,481 394 Century Telephone Enterprises, Inc. 33,377 864 * Cerner Corp. 17,000 465 * Chalone Wine Group Ltd. 56,800 327 * Chambers Development Co. Class A 84,000 184 * Chambers Development Co. Class B 20,500 51 Chaparral Steel Co. 42,500 382 Charter One Financial 25,800 527 * Charter Medical Corp. 15,500 351 Checkers Drive-In Restaurant 55,600 323 * Checkpoint Systems, Inc. 26,900 454 Chelsea GCA Realty, Inc. 16,300 446 Chemed Corp. 14,400 515 * Chemical Fabrics Corp. 19,650 221 Chemical Waste Management 128,400 1,123 Chesapeake Corp. of Virginia 24,483 624 Cheyenne Software, Inc. 23,700 201 * Chicago and Northwestern Co. 26,100 603 Chiquita Brands International, Inc. 42,665 533 * Chiron Corp. 19,662 1,076 Chock Full O'Nuts Corp. 39,232 270 * Cholestech Corp. 38,000 104 Chris-Craft Industries, Inc. 17,240 623 * Christiana Cos., Inc. 16,200 551 Church and Dwight, Inc. 14,600 332 Cilcorp, Inc. 16,400 478 Cincinnati Bell, Inc. 40,100 657 Cincinnati Financial Corp. 30,400 1,611 Cincinnati Gas & Electric Co. 53,600 1,166 * Circa Pharmaceuticals Inc. 42,400 392 * Circon Corp. 31,357 290 * Cirrus Logic 22,200 687 Cintas Corp. 27,900 903 Circus Circus Enterprises Inc. 52,159 1,121 Citizens Banking Corp. 20,900 504 Citizens Corp. 21,400 375 Citizens First Bancorp, Inc. 62,700 564 Citizens Utilities Co. Class A 114,821 1,593 * City National Corp. 63,025 630 Clarcor Inc. 23,600 407 Clayton Homes Inc. 37,683 664 * Clean Harbors Inc. 45,200 359 Clear Channel Communications 10,600 399 Cleveland-Cliffs Iron Co. 14,800 562 * The Clothestime, Inc. 59,700 276 Coachmen Industries, Inc. 20,900 261 * Coast Savings Financial, Inc. 33,600 567 Coca-Cola Enterprises, Inc. 77,062 1,310 * Code Alarm, Inc. 27,600 292 Coeur D'Alene Mines Corp. 24,600 458 * Coherent Communications Rights 9,266 21 Exp. 7/21/94 * Coherent, Inc. 29,223 369 * Coleman Inc. 16,000 480 Collective Bancorporation Inc. 26,650 583 * Collagen Corp. 20,803 393 Colonial Gas Co. 19,013 402 * Coltec Inc. 42,500 792 Columbus Realty Trust 18,900 397 Comair Holdings, Inc. 25,300 519 Comdisco, Inc. 24,300 465 Comerica, Inc. 74,550 2,106 Commerce Bancshares, Inc. 19,700 608 Commerce Clearing House, Inc. Class A 6,100 104 Commerce Clearing House, Inc. Class B 14,400 248 Commerce Group, Inc. 39,600 663 * Commercial Federal Corp. 23,100 547 Commercial Metals Co. 22,066 568 Commonwealth Energy Systems 17,000 689 Communications Systems, Inc. 21,500 266 Community First Bankshares 26,458 357 Compass Bancshares Inc. 21,700 543 * CompUSA, Inc. 35,500 315 Computer Data Systems, Inc. 31,200 429 * Computer Outsourcing Services, Inc. 57,600 302 Computer Task Group, Inc. 35,700 303 * Compuware Corp. 22,000 910 Comsat Corp. 24,600 572 Computer Horizons Corp. 16,425 142 * Conmed Corp. 17,100 224 * Conner Peripherals, Inc. 44,393 538 Conseco, Inc. 16,500 769 Consolidated Papers 27,000 1,171 Consolidated Products Inc. 12,377 125 * Consolidated Stores, Inc. 28,241 346 * Consolidated Technology Group 32,700 213 * Contel Cellular, Inc. 61,052 1,015 Continental Bank Corp. 32,300 1,171 * Continental Materials Corp. 38,600 429 * Continental Medical Systems, Inc. 51,950 422 Conversion Industries, Inc. 43,300 152 * Convex Computer Corp. 52,500 302 Copley Pharmaceutical, Inc. 21,217 634 * Cordis Corp. 11,600 451
4 32
Market Value Shares (000)+ - - --------------------------------------------------------------- Core Industries, Inc. 19,400 $ 196 CoreStates Financial Corp. 597 15 * Corrections Corp. of America 37,800 619 * Cosmetic Center, Inc. Class A 25,100 398 * Cosmetic Center, Inc. Class B 6,900 103 Countrywide Credit Industries, Inc. 54,079 777 Cracker Barrel Old Country Stores, Inc. 36,833 875 * Craig Corp. 24,623 317 Jenny Craig Inc. 58,900 353 Crawford & Co. Class B 22,300 368 * Cray Computer Corp. 66,500 64 * Cree Research, Inc. 36,700 367 Crestar Financial Corp. 22,942 1,044 Crompton & Knowles Corp. 30,400 524 A.T. Cross Co. Class A 28,500 456 * Crown Central Petroleum Corp. Class B 21,500 349 Crown Crafts, Inc. 21,340 403 * Cruise America, Inc. 12,000 32 * Crystal Brands, Inc. 27,600 12 Cullen/Frost Bankers, Inc. 15,130 537 Curtice-Burns, Inc. Class A 24,700 395 Curtiss-Wright Corp. 11,800 395 * Custom Chrome 21,400 302 * Cypress Semiconductor Corp. 31,500 512 * Cytogen Corp. 77,300 358 DPL, Inc. 66,575 1,315 DQE Inc. 31,900 945 * DRCA Medical Corp. of America 56,800 174 Dames & Moore, Inc. 33,000 483 Danaher Corp. 17,533 732 Dart Group Corp. Class A 4,700 358 * Datascope Corp. 29,000 457 Dauphin Deposit Bank & Trust 18,040 469 * Davis Water and Waste Industry, Inc. 44,200 387 Dean Foods Corp. 23,733 641 Deb Shops, Inc. 50,700 345 Debartalo Realty Corp. 40,900 598 Dekalb Genetics Corp. Class B 14,300 429 * Dell Computer 22,650 597 Delmarva Power & Light Co. 35,500 643 Delta & Pine Land Co. 21,100 368 Delta Woodside 32,700 384 * Dentsply International 16,900 587 * Department 56 Inc. 12,400 395 Deposit Guaranty Corp. 20,600 603 * Desoto, Inc. 29,500 177 * Destec Energy Inc. 38,101 381 * Detroit Diesel Corp. 11,800 301 * Devcon International Corp. 13,200 107 Devon Energy Corp. 36,200 815 Dexter Corp. 26,400 640 Diagnostic Products Corp. 23,600 510 * Dial Page, Inc. 20,500 569 Diamond Shamrock, Inc. 18,100 459 * Diagnostek, Inc. 31,400 683 Dibrell Brothers, Inc. 15,600 265 Diebold, Inc. 18,556 791 * Digi International, Inc. 24,250 364 * Digital Microwave Corp. 41,500 431 * Digital Systems Inc. 18,700 72 * Dime Bankcorp Inc. 59,500 588 * Dionex Corp. 13,300 446 * Discovery Zone, Inc. 38,775 521 * Dr. Pepper/Seven Up Cos., Inc. 37,100 853 Dole Food Co. 35,800 967 Dollar General Corp. 38,170 959 Donaldson Co., Inc. 28,700 642 Donnelly Corp. 18,550 292 Douglas & Lomason 19,800 371 Downey Savings & Loan Assn. 23,900 478 * Dravo Corp. 33,961 369 * The Dress Barn, Inc. 39,500 397 * Drexler Technology Corp. 12,000 71 Dreyer's Grand Ice Cream, Inc. 16,400 377 Dreyfus Corp. 22,300 1,082 * Drug Emporium, Inc. 67,430 350 Duracell International, Inc. 72,575 2,830 * Duracraft Corp. 11,500 500 Duriron Co., Inc. 30,900 506 Duty Free International Inc. 18,626 198 * EA Engineering Sciences and Technology Inc. 27,800 417 EMC Corp. 111,600 1,507 * Eagle Food 33,600 139 * Earth Technology USA 10,600 124 * Easel Corp. 27,300 109 Eastern Utilities Associates 23,020 532 Ecology and Environment, Inc. 20,500 218 Edison Brothers Stores, Inc. 13,000 328 * Edisto Resources Corp. 150,700 1,149 * Editek Inc. 95,100 196 Edo Corp. 9,900 45 A.G. Edwards & Sons, Inc. 35,398 611 * Egghead, Inc. 48,400 345 * El Paso Electric Co. 132,200 269 El Paso Natural Gas 22,132 714 * Elcor Corp. 20,100 492 * Electrocon Automation 62,600 376 * Electromagnetic Sciences, Inc. 16,900 146 Electronic Arts 29,200 405 * Electronics for Imaging, Inc. 25,500 408
5 33
Market Value Shares (000)+ - - --------------------------------------------------------------- * Eljer Industries, Inc. 37,600 $ 259 Empire District Electric Co. 24,872 407 * Energy Conversion Devices, Inc. 34,500 431 Energy Services, Inc. 34,850 610 * Engineered Support Systems, Inc. 65,100 252 Energy North, Inc. 16,784 313 Enron Oil & Gas Co. 96,876 2,228 * Enterra Corp. 23,594 495 * Epitope Inc. 34,400 555 Equifax, Inc. 45,270 1,279 The Equitable Cos. 86,200 1,530 Equitable of Iowa Co. 18,800 595 Equitable Resources, Inc. 20,750 713 Equivest Finance, Inc. 56,675 120 * Equity Res. Properties Trust 17,100 509 Essex County Gas Co. 4,800 119 * Esterline Technologies Corp. 36,000 311 Ethyl Corp. 71,004 861 * Europa Cruises Corp. 105,000 261 * Exabyte Corp. 31,900 459 Expeditors International of Washington, Inc. 19,600 343 * Ezcorp, Inc. 26,800 358 * FHP International Corp. 19,760 469 FMC Gold Co. 81,500 438 * Failure Group, Inc. 64,500 298 * Fairchild Corp. 16,000 62 Family Dollar Stores, Inc. 33,300 445 Fastenal Co. 11,700 396 Federal-Mogul Corp. 21,300 620 Federal Realty Investment Trust 17,100 438 Federal Signal Corp. 28,537 485 * Federated Stores 77,300 1,546 Ferro Corp. 17,275 399 * Fibreboard Corp. 14,300 358 * Fieldcrest Cannon, Inc. 16,200 401 Fifth Third Bancorp 38,250 2,008 Figgie International Inc. Class A 36,600 371 * Filene's Basement Corp. 44,450 428 Fina Inc. 8,600 655 Fingerhut Co. 27,246 661 First Bancorp of Ohio 26,100 656 First American Corp. (Tenn.) 16,000 522 First American Bank Corp. 37,149 1,323 First Bank System, Inc. 68,982 2,518 First Brands Co. 12,900 472 First Citizens Bancshares Class A 13,100 570 First Colonial Bankshares 21,500 495 First Colony Corp. 29,400 632 First Commerce Corp. 15,116 429 First Data Corp. 67,700 2,801 First Empire State Corp. 4,100 642 * First Federal Financial 24,175 360 First Financial Savings Assn. 34,800 513 First Financial Management 36,240 2,011 First Hawaiian, Inc. 19,200 542 First Inter-Bancorp 15,950 376 First Security Corp. 28,175 821 First Tennessee National Corp. 17,400 759 First USA Inc. 34,100 1,309 First Virginia Banks, Inc. 19,842 732 * First Western Finance Corp. 14,100 123 Firstar Corp. 38,700 1,369 Firstfed Michigan Corp. 24,850 573 * Firstmiss Gold, Inc. 52,600 391 * Fiserv, Inc. 24,250 500 Firstier Financial Inc. 12,723 600 * Flagstar Cos. 52,000 429 Fleet Mortgage Group 31,300 442 Flexsteel Industry 22,100 296 Flightsafety International, Inc. 19,800 745 Florida East Coast Railway Co. 7,200 472 Florida Progress Corp. 54,200 1,402 Florida Rock Industries, Inc. 16,200 389 Flowers Industries, Inc. 23,000 420 Fluke Corp. 14,045 414 Food Lion Inc. Class A 232,450 1,424 Food Lion Inc. Class B 58,605 385 * Foodarama Supermarkets, Inc. 23,100 313 Foote, Cone & Belding Communications, Inc. 13,400 603 Foothill Group 43,300 509 Foremost Corp. of America 12,800 402 * Forest City Enterprise Class A 9,800 338 * Forest Laboratories, Inc. 26,508 1,153 * Foundation Health Co. 18,100 704 Fourth Financial Corp. 15,525 448 Foxmeyer Corp. 39,826 558 * Frame Technology 39,000 419 * Franklin Electronic Publishers, Inc. 29,600 340 * Franklin Quest Co. 12,500 445 Franklin Resources Corp. 51,300 1,905 Fredericks of Hollywood Class A 14,666 60 Fredericks of Hollywood Class B 29,332 125 Freeport McMoRan, Inc. 85,996 1,397 Freeport McMoRan Copper & Gold Inc. Class A 39,774 885 Fremont General Corp. 21,350 502 * Fretter Inc. 11,628 57 Frisch's Restaurants, Inc. 23,812 313 * Fruit of the Loom, Inc. 46,812 1,223 H.B. Fuller Co. 16,450 598 * Fund American Enterprise Holding Co. 5,685 401
6 34
Market Value Shares (000)+ - - --------------------------------------------------------------- G & K Services, Inc. 32,325 $ 489 GATX Corp. 12,200 494 GEICO Corp. 44,500 2,275 GFC Financial Corp. 12,900 431 * GNI Group Inc. 28,400 96 GP Financial Corp. 33,400 741 Gainsco, Inc. 39,306 349 Arthur J. Gallagher & Co. 21,400 663 * Gander Mountain, Inc. 29,100 360 * Gateway 2000 Inc. 41,500 464 Gaylord Entertainment Class A 55,200 1,352 Gencorp, Inc. 28,800 331 * Genentech Inc. 70,817 3,488 General Binding Corp. 29,600 529 * General Instrument 37,700 2,149 General Motors Corp. Class E 146,900 5,123 General Motors Corp. Class H 56,700 2,034 General Nutrition Cos., Inc. 22,800 399 General Public Utilities Corp. 71,700 1,882 * Genetics Institute Inc. 15,800 654 Gentex Corp. 31,000 794 * Geneva Steel Class A 37,700 636 * Genlyte Group, Inc. 8,700 42 Genovese Drug Stores, Inc. Class A 24,648 280 * Genrad, Inc. 53,600 308 * Gensia Inc. 24,000 225 Geon Co. 16,300 424 * Genzyme Corp. 14,209 369 * Georgia Gulf Corp. 24,398 836 Gerber Products Co. 43,000 2,193 Gerber Scientific, Inc. 32,000 496 Germantown Savings Bank 6,800 407 * Gerrity Oil & Gas Corp. 45,200 412 * Getty Petroleum Corp. 21,432 268 Gibson Greetings, Inc. 24,800 400 * Gilead Sciences, Inc. 44,700 374 P.H. Glatfelter Co. 26,300 421 * Glenayre Technologies, Inc. 9,900 384 * Glendale Federal 67,748 711 * Global Marine Inc. 93,700 433 * Glycomed, Inc. 96,600 229 Golden Enterprises Inc. 45,400 346 * E. Gottschalk & Co., Inc. 37,300 396 Goulds Pumps, Inc. 18,391 393 Graco, Inc. 20,750 389 * Graham-Field Health Products Inc. 58,400 263 * Grand Casinos, Inc. 29,100 400 Graphic Industries, Inc. 47,700 465 * Greater New York Savings Bank 46,300 460 Green Mountain Power Corp. 12,811 315 Green Tree Financial Corp. 20,800 1,165 * Greenwich Pharmaceuticals, Inc. 44,900 22 Greiner Engineering, Inc. 21,833 262 * Grist Mill Co. 26,550 139 * Grossmans, Inc. 103,700 259 Grow Group, Inc. 26,600 456 * Gtech Holdings Corp. 25,600 432 Guaranty National Corp. 25,000 372 Guilford Mills, Inc. 21,450 440 * Gundle Environmental Systems, Inc. 57,500 323 HBO and Co. 18,000 457 * Hadco Corp. 50,800 321 * Haemonetics Corp. 25,600 464 * Hamburger Hamlet Restaurants 16,900 101 Hancock Fabrics, Inc. 45,300 357 Handy & Harman 27,800 389 M.A. Hanna Co. 21,450 544 Hannaford Brothers Co. 24,500 548 * Hanover Direct, Inc. 86,800 391 Harley-Davidson, Inc. 22,994 1,052 Harman International Industries, Inc. 18,900 473 Harper Group, Inc. 29,300 418 Harsco Corp. 15,016 616 Hartford Steam Boiler Inspection & Insurance Co. 13,043 584 * Hauser Chemical Research 45,700 308 Hawaiian Electric Industries Inc. 16,535 513 Health and Rehabilitation Properties Trust 34,800 500 Health Care Properties Investors 16,000 492 Health Equity Properties, Inc. 37,000 338 Health Management Associates Class A 29,662 608 * Health Professionals, Inc. 39,200 32 * Health Systems 35,500 892 * Healthcare & Retirement Corp. 20,500 507 * Healthcare Compare Corp. 31,798 566 * Healthcare Services Group, Inc. 37,300 469 * HEALTHSOUTH Rehabilitation Corp. 24,576 642 Healthsource, Inc. 18,400 524 * Healthtrust Inc. 55,500 1,540 * Healthwise of America Inc. 17,956 368 Hechinger Co. Class A 42,700 592 * Hecla Mining Co. 56,100 596 * Hector Communications Corp. 34,250 261 Heico Corp. 28,350 291 Heilig-Meyers Co. 29,125 790 Hein-Werner Corp. 13,969 75 * Helen of Troy Corp. 22,500 326 Helene Curtis, Inc. 17,300 480
7 35
Market Value Shares (000)+ - - --------------------------------------------------------------- Herbalife International of America, Inc. 21,500 $ 469 Hibernia Corp. Class A 53,128 458 Hillenbrand Industries, Inc. 44,700 1,224 * Hitox Corp. of America 43,100 156 Holly Corp. 15,700 447 * Hollywood Casino Corp. 43,500 272 Home Federal Financial Corp. 24,630 453 * Home Holdings Inc. Series A 25,200 331 * Home Shopping Network, Inc. 56,800 667 Homeowners Group, Inc. 50,000 94 * Hometown Buffet, Inc. 26,250 397 Hon Industries, Inc. 18,800 519 Horace Mann Educators Corp. 17,100 466 * Horizon Healthcare Corp. 22,225 508 George A. Hormel & Co. 45,800 956 Horsehead Resource Development Co., Inc. 46,000 144 * Hospital Staffing Services, Inc. 54,300 156 * Hospitality Franchise Systems, Inc. 25,800 632 Host Marriott 87,300 851 Houghton Mifflin Co. 8,800 389 * House of Fabrics, Inc. 63,300 214 Hubbell Inc. Class A 2,000 105 Hubbell Inc. Class B 17,051 946 Hughes Supply, Inc. 13,600 284 * Humana, Inc. 99,900 1,611 J.B. Hunt Transport Services, Inc. 24,150 441 Huntington Bancshares Inc. 63,080 1,593 IBP, Inc. 28,100 748 * ICOS Corp. 75,900 332 IDB Communications Group, Inc. 43,076 398 IES Industries, Inc. 17,040 441 * IGI, Inc. 37,600 324 * IHOP Corp. 18,000 515 IMC Fertilizer Group, Inc. 18,397 637 IMCO Recycling, Inc. 27,500 385 * Idaho Power Co. 22,100 503 llinova Corp. 46,376 870 Illinois Central Corp. 25,700 851 * Image Business Systems Corp. 103,700 68 * Image Entertainment, Inc. 54,500 371 * Immulogic Pharmaceutical Corp. 49,900 368 * Immune Response 33,383 334 * Immunex Corp. 45,200 571 * Imo Industries, Inc. 54,000 513 Imperial Bancorp 36,029 612 * Immunomedics Inc. 66,800 225 * Inacom Corp. 25,696 209 Indiana Energy, Inc. 39,000 712 * Indressco Inc. 36,400 432 Infinity Broadcasting Corp. 20,200 487 Informix Corp. 39,000 607 * Information Resources, Inc. 17,765 262 Integon Corp. 26,250 466 Integra Financial Corp. 20,131 941 * Integrated Device Technology Inc. 24,800 612 Intelligent Electronics Inc. 31,686 483 * Interco Co. 29,800 443 Interface, Inc. 31,900 363 Interface Systems Inc. 22,700 112 * Interlink Electronics Inc. 36,800 315 Intermet Corp. 36,900 286 * International Dairy Queen, Inc. Class A 31,112 521 * International Imaging Materials Inc. 20,600 376 International Game Technology 80,198 1,514 International Multifoods Corp. 29,169 463 International Recovery Corp. 23,700 308 International Specialty Products, Inc. 61,000 419 * Intervoice, Inc. 55,200 386 Invacare Corp. 16,400 443 Iowa-Illinois Gas & Electric Co. 17,400 357 Ipalco Enterprises, Inc. 23,400 676 * Isomedix Inc. 20,600 348 * Itel Corp. 20,000 628 IVAX Corp. 51,900 850 JDN Realty Corp. 9,900 217 * J & J Snack Foods Corp. 27,900 357 J & L Specialty Steel Inc. 40,800 704 * JB's Restuarants Inc. 17,900 92 JMC Group Inc. 72,600 218 JSB Financial 19,299 475 Jackpot Enterprises, Inc. 22,727 182 * Jacobs Engineering Group Inc. 28,600 586 * Jay Jacobs, Inc. 12,100 17 * Jamesway Corp. 16,200 7 * Jan Bell Marketing Inc. 56,150 365 John Alden Financial Group 18,600 642 * Jones Apparel Group, Inc. 21,500 607 Justin Industries, Inc. 36,900 447 * KLA Instruments Corp. 12,800 477 KN Energy, Inc. 20,850 464 K U Energy Corp. 22,600 568 * K-V Pharmaceutical Co. Class A 29,400 250 * K-V Pharmaceutical Co. Class B 12,200 102 * Kaiser Aluminum & Chemical Corp. 62,400 601 Kaman Corp. Class A 38,400 355 Kansas City Power & Light Co. 37,300 723 Kansas City Southern Industries, Inc. 25,738 1,049
8 36
Market Value Shares (000)+ - - --------------------------------------------------------------- Kaydon Corp. 23,300 $ 495 * Kelly Oil Corp. 48,000 342 Kellwood Co. 20,400 436 Kelly Services, Inc. Class A 23,337 636 * Kemet Corp. 30,100 508 Kemper Corp. 19,612 1,187 * Kendall International Inc. 11,600 592 * Kenetech Corp. 18,700 339 Kennametal, Inc. 12,381 610 * Kent Electronics Corp. 13,500 412 * Kentucky Medical Insurance Co. 38,611 280 * Ketema, Inc. 23,510 353 * Key Tronic Corp. 44,700 291 * Keystone Consolidated Industries, Inc. 29,550 428 Keystone International Fund, Inc. 21,425 418 Kimball International, Inc. Class B 13,300 304 Kimco Realty Corp. 11,900 427 * Kimmins Environmental Service Corp. 45,950 98 * Kinder Care Learning Centers Inc. 32,300 432 Kinetic Concepts, Inc. 95,700 341 * Kirby Corp. 30,800 504 * Kirschner Medical Corp. 22,300 219 Knape & Vogt Manufacturing Co. 18,875 361 * Knowledgeware, Inc. 36,500 196 * Kohls Corp. 22,100 1,039 * Komag, Inc. 29,900 549 * Kulicke & Soffa Industries, Inc. 20,400 278 * L.A. Gear Inc. 35,800 228 * LDDS Communications, Inc. 72,346 1,257 LG&E Energy Corp. 19,750 721 L & N Housing Corp. 34,300 270 * LSI Logic Corp. 29,400 735 LTV Corp. 64,923 998 * LTX Corp. 114,400 265 La Quinta Inns Inc. 23,800 622 La-Z-Boy Chair Co. 11,700 310 Lab One Inc. 23,100 442 Lafarge Corp. 32,000 620 Lakeland First Financial Group Inc. 28,341 567 LAM Research Corp. 13,650 384 Lancaster Colony Corp. 13,433 640 Lance, Inc. 22,641 385 * Landmark Graphics Corp. 23,000 702 * Landry's Seafood Restaurants, Inc. 16,000 296 Lands' End, Inc. 31,800 553 * Larizza Industries, Inc. 50,100 282 * Laser Precision Corp. 21,100 84 * Laserscope 16,100 74 Lattice Semiconductor Corp. 30,300 568 Lawson Products, Inc. 22,350 520 Lawter International Inc. 31,354 368 Lawyers Title Insurance Corp. 26,250 312 Learonal Inc. 24,100 410 * Lechters Corp. 32,500 451 Lee Enterprises, Inc. 14,000 448 * Legent Corp. 21,853 585 Legg Mason Inc. 22,000 415 Leggett & Platt, Inc. 24,400 915 * Lehman Brothers Holdings, Inc. 79,900 1,208 Lennar Corp. 21,150 399 Leucadia National Corp. 16,838 606 Liberty Corp. 21,200 580 * Liberty Media Corp. Class A 79,760 1,585 Liberty National Bancorp Inc. 15,249 469 Life Re Corp. 20,700 414 Lilly Industries Inc. Class A 35,388 500 * Lin Broadcasting Corp. 32,168 3,860 Lincare Holdings Inc. 16,500 324 Lincoln Telecommunications Co. 38,100 576 Linear Technology Corp. 21,702 952 * Liposome Co., Inc. 59,600 339 * Littelfuse, Inc. 17,800 374 Litton Industries, Inc. 27,700 931 * Live Entertainment Inc. 87,900 165 Loctite Corp. 21,100 891 Loews Corp. 40,000 3,410 * Lomas Financial Corp. 52,500 328 * Lone Star Steakhouse & Saloon 20,563 362 * Lone Star Technologies, Inc. 47,600 339 Long Island Lighting Co. 67,765 1,203 Longview Fiber Co. 32,070 561 Lubrizol Corp. 42,100 1,442 Lukens, Inc. 10,700 350 * Lynx Therapeutic 5,808 1 * Lynx Therapeutic Pfd. 8,448 8 Lyondell Petrochemical Co. 48,954 1,205 MBIA, Inc. 25,000 1,434 MCN Corp. 18,600 744 * MDT Corp. 56,900 274 MDU Resources Group, Inc. 21,400 572 * MFS Communications Co., Inc. 36,800 902 MGIC Investment Corp. 35,098 930 * MGI Pharmaceutical, Inc. 42,700 443 * MGM Grand Inc. 28,000 655 * M.S. Carriers Inc. 21,300 423 * MacFrugal's Bargains Close-Outs, Inc. 35,500 617 The MacNeal-Schwendler Corp. 28,600 400 * Magma Copper Co. Class B 37,300 564 * Magma Power Co. 14,300 415 Magna Group 30,700 589 * Magnatek 32,600 473
9 37
Market Value Shares (000)+ - - --------------------------------------------------------------- Maine Public Service Co. 7,100 $ 184 Manpower Inc. 44,000 924 Manville Corp. 74,300 520 Mapco Inc. 18,100 1,068 Margaretten Financial Corp. 28,900 723 Marion Merrell Dow, Inc. 170,674 3,115 Mark IV Industries, Inc. 25,609 509 * Mark VII, Inc. 5,200 72 Mark Twain Bancshares, Inc. 18,050 519 * Marquest Medical Products Inc. 21,500 40 * Marquette Electronics Class A 27,200 435 Marshall & Ilsley Corp. 79,227 1,594 * Marshall Industries 22,572 497 * Martin Marietta Materials, Inc. 27,200 598 Marvel Entertainment Group 58,934 1,076 Maryland Federal Bancorp 18,276 493 Mascotech Inc. 37,400 496 * Masland Corp. 24,700 432 * Mastec Inc. 50,400 403 * Maxim Integrated Products, Inc. 8,700 451 * Maxtor Corp. 65,000 321 Maybelline, Inc. 25,051 692 * Maxxam Inc. 13,200 450 McClatchy Newspapers, Inc. 17,300 413 McCormick & Co., Inc. 48,983 992 * McMoRan Oil and Gas 8,599 39 * McWorter 18,400 283 Measurex Corp. 22,800 405 Medford Savings Bank 14,500 546 Media General, Inc. Class A 24,500 652 * Medical Care America 18,034 489 * Medical Imaging Centers of America, Inc. 36,800 14 * Medical Technology Systems, Inc. 16,100 130 Medicine Shoppe International, Inc. 18,750 427 * Medimmune Inc. 40,000 345 * Medical Dynamics, Inc. 116,800 226 Meditrust 19,500 663 * Megahertz Corp. 40,500 276 * Menley & James Inc. 19,300 17 Men's Wearhouse, Inc. 18,300 407 Mentor Corp. 25,700 392 Mentor Graphics Corp. 54,200 566 Merchantile Bancorp, Inc. 25,750 904 Mercantile Bankshares Corp. 28,650 568 Mercury Finance Co. 70,270 1,159 Mercury General Corp. 16,400 488 Meridian Bancorp, Inc. 35,295 1,070 * Merisel, Inc. 35,610 307 Merrill Corp. 14,400 320 Merry-Go-Round Enterprises, Inc. 50,523 101 * Mesa Airlines, Inc. 25,100 251 Met-Pro Corp. 21,922 315 Metro Bancshares Inc. 24,525 527 Metropolitan Financial Corp. 36,061 568 Fred Meyer, Inc. 15,800 575 Michael Foods, Inc. 41,400 453 * Michaels Stores, Inc. 14,100 474 Michigan National Corp. 9,000 650 * Micropolis Corp. 52,900 314 * Microcom Corp. 62,600 399 Micron Technology Inc. 61,850 2,134 * Micronics Computers, Inc. 71,000 306 * Microtouch Systems, Inc. 27,600 518 Mid-America Apartment Communities, Inc. 13,300 333 Mid Atlantic Medical Services 12,900 573 Mid-American Waste Systems, Inc. 33,100 186 Mid-Iowa Financial Corp. 2,640 44 Midlantic Corp. 31,100 904 Midwest Grain Products 15,650 563 Midwest Resources Inc. 33,697 489 Herman Miller, Inc. 14,771 384 * Milwaukee Land Co. 2,300 16 Minerals Technologies, Inc. 14,300 415 Minnesota Power & Light Co. 18,300 474 Mirage Resorts Inc. 54,000 1,013 Mitchell Energy & Development Corp. Class A 32,000 648 * Mobile Telecommunications Technologies Corp. 21,300 386 Modern Controls, Inc. 28,775 216 Modine Manufacturing Co. 18,100 462 * Mohawk Industries, Inc. 24,100 428 * Molecular Biosystems, Inc. 24,300 267 Molex, Inc. 38,011 1,435 The Money Store 28,950 492 Monk Austin, Inc. 32,800 426 Montana Power Co. 31,400 703 Morgan Stanley Group, Inc. 46,384 2,638 Morrison Restaurants 22,425 510 Mosinee Paper Corp. 12,400 391 * Motor Club of America 19,500 67 * Mueller Industries Inc. 14,500 422 * Multimedia, Inc. 21,903 632 Murphy Oil Corp. 27,730 1,185 Myers Industries, Inc. 20,739 417 Mylan Laboratories, Inc. 48,400 1,029 NBB Bancorp, Inc. 13,900 653 NCH Corp. 9,300 572 NAC Re Corp. 13,025 384 N.S. Bancorp Inc. 14,800 437 NWNL Cos., Inc. 18,300 608
10 38
Market Value Shares (000)+ - - --------------------------------------------------------------- * nVIEW Corp. 62,249 $ 307 NYMAGIC, Inc. 16,200 328 * Nabors Industries, Inc. 42,500 313 Nashua Corp. 13,800 352 * National Beverage Corp. 2,280 40 National City Corp. 97,006 2,656 National Computer Systems, Inc. 31,500 366 National Data Corp. 23,100 396 National Fuel & Gas Co. 22,400 658 National Gypsum Co. 12,300 381 National Health Labs Holdings 54,500 661 * National Pizza Corp. Class A 41,850 272 * National Pizza Corp. Class B 36,750 230 National Presto Industries, Inc. 10,963 444 National Re Holdings Corp. 21,200 549 * National Record Mart, Inc. 57,800 231 * National Steel Corp. Class B 42,400 657 * Nationwide Cellular Service Inc. 25,200 304 Nationwide Health Properties, Inc. 10,400 406 * Nautica Enterprises 19,762 477 Neiman Marcus Group Inc. 37,904 602 * Nellcor Inc. 20,100 533 * Network Equipment Technologies 39,547 341 * Network General Corp. 28,244 445 * Network Systems Corp. 59,000 391 Neutrogena Corp. 28,800 558 Nevada Power Co. 25,252 483 New England Business Service, Inc. 23,200 441 New England Electric System 39,400 1,285 * New Mexico & Arizona Land Co. 32,100 293 New Plan Realty Trust 29,300 637 New York State Electric & Gas Corp. 43,500 1,033 Newcor, Inc. 29,500 310 Newhall Land & Farming Co. 41,200 613 Newmont Gold Co. 63,491 2,476 * Nextel Communications 58,200 1,753 * Nine West Group, Inc. 21,100 549 Noble Affiliates, Inc. 29,500 892 Nordson Corp. 11,240 615 * Nortek, Inc. 31,952 300 North American Mortgage 23,200 557 North Fork Bancorporation, Inc. 35,900 476 North Side Savings Bank 25,235 593 * North Star Universal Inc. 63,800 339 * Northeast Federal Corp. 14,113 136 Northeast Utilities 81,100 1,764 Northern Indiana Public Service Co. 39,870 1,176 Northern Trust Corp. 32,250 1,322 * Northwest Airlines Corp. Class A 67,000 959 Northwest Natural Gas Co. 17,700 527 Northwestern Public Service Co. 15,300 421 * NovaCare, Inc. 38,712 619 Novellus Systems, Inc. 8,800 304 OEA, Inc. 23,300 647 OHM Corp. 31,000 329 Oasis Residential, Inc. 17,700 438 * O'Brien Environmental Energy Inc. Class A 15,700 11 * Oceaneering International, Inc. 36,900 517 * Octel Communications Corp. 19,900 333 Office Depot, Inc. 86,925 1,739 * Offshore Logistics, Inc. 31,800 429 * Offshore Pipelines Inc. 23,800 467 * Ogden Projects, Inc. 22,529 389 Ohio Art Co. 8,700 209 Ohio Casualty Corp. 21,456 603 Oklahoma Gas & Electric Co. 24,300 738 * Old America Stores 31,500 345 Old Kent Financial Corp. 24,100 840 Old National Bancorp 11,027 400 Old Republic International Corp. 30,774 685 Olin Corp. 13,300 717 Olsten Corp. 24,850 795 Omnicom Group Inc. 20,100 970 Onbancorp Inc. 15,700 473 Oneida Ltd. 25,789 364 * Oneita Industries 23,733 217 Optical Coating Laboratory, Inc. 44,466 289 * Optical Radiation Corp. 19,800 453 Orange & Rockland Utilities, Inc. 17,100 534 * Orbital Sciences Corp. 25,200 403 * Oregon Metallurgical Corp. 48,500 294 Oregon Steel Mills, Inc. 25,300 484 * O'Reilly Automotive, Inc. 15,800 419 Oriole Homes Corp. Class B 7,500 52 * Orthomet Inc. 43,300 287 O'Sullivan Corp. 35,675 339 * Outback Steakhouse 24,150 581 Overseas Shipholding Group Inc. 20,300 370 * Owens-Illinois, Inc. 73,972 814 Oxford Health Plan 10,400 462 PCA International, Inc. 33,693 295 * PDG Environment Industries 7,140 7 PHH Corp. 11,100 395 * PS Group, Inc. 29,600 303 * Pacific Crest Capital Inc. 43,645 316 Pacific Scientific Co. 17,900 463 Pacific Telecom, Inc. 23,800 512 * Pacificare Health Systems Inc. Class A 14,700 726 * Pacificare Health Systems Inc. Class B 2,100 102 Paging Network Inc. 31,400 860
11 39
Market Value Shares (000)+ - - --------------------------------------------------------------- PaineWebber Group, Inc. 44,775 $ 700 * Parametric Technology Corp. 33,204 751 Paramount Communications, Inc. 37,002 1,721 * Park Communications, Inc. 26,750 625 * Park-Ohio Industries, Inc. 25,900 335 Parker & Parsley Petroleum Co. 16,100 411 * Parker Drilling Co. 87,600 526 Paul Revere Corp. 27,500 547 Paychex, Inc. 18,450 542 * Payless Cashways, Inc. 21,300 288 * Pec Israel Economic Corp. 17,800 416 Pegasus Gold 20,500 328 Penn Engineering & Manufacturing Co. 7,200 339 Pennsylvania Enterprises Inc. 12,850 386 Pennsylvania Power and Light Co. 92,598 1,817 Pentair, Inc. 11,154 402 Penwest Ltd. 18,609 419 Peoples Heritage Financial Group Inc. 33,800 444 * Peoplesoft Inc. 23,700 832 * Perfumania Inc. 14,300 44 * Perini Corp. 15,600 172 Perrigo 65,500 892 * Perry Drug Stores Inc. 52,200 281 Petrie Stores Corp. 28,331 698 Petroleum Heat & Power Co. 47,600 336 Petroleum Heat & Power Co. Class B 4,300 80 Petrolite Corp. 14,700 458 Petsmart, Inc. 16,100 459 * Pharmaceutical Resources Inc. 40,970 318 Pharmaceutical Resources, Inc. Series A Convertible Pfd. 1,199 9 Phillips-Van Heusen Corp. 16,093 404 Physician Corp. of America 32,200 733 * Photronics Labs Inc. 23,000 420 * Picturetel Inc. 29,400 369 * Piedmont Management Inc. 27,600 335 Piedmont Natural Gas, Inc. 30,028 608 Pier 1 Imports Inc. 39,077 298 Pilgrim's Pride Corp. 40,000 255 Pinnacle West Capital Corp. 52,700 863 Pioneer Financial 37,800 378 Pioneer Standard Electronics Inc. 20,900 530 Pioneer Financial Corp. 22,500 512 Pittway Corp. Class A 13,800 480 Plains Petroleum Co. 20,500 438 * Playboy Enterprises Inc. Class A 22,850 160 * Playboy Enterprises Inc. Class B 31,150 210 Plenum Publishing Corp. 13,600 364 * Plexus Corp. 21,650 257 Ply-Gem Industries, Inc. 24,100 497 * Pogo Producing Co. 28,400 657 * Policy Management Systems Corp. 13,964 461 * Pool Energy Service Co. 44,967 467 Pope & Talbot, Inc. 19,000 342 Portland General Electric Co. 29,500 502 Potomac Electric Power Co. 73,100 1,398 * Powersoft Corp. 14,300 694 Precision Castparts Corp. 17,200 546 Premier Industrial Corp. 52,447 996 President Riverboat Casinos, Inc. 48,417 351 Presidential Life Corp. 42,600 296 * Premier Bancorp, Inc. 32,600 571 * Presidio Oil Co. Class A 18,100 34 T. Rowe Price 17,200 458 * Primadonna Resorts, Inc. 19,100 468 Primark Corp. 32,800 369 Prime Bancorp Inc. 25,630 541 Production Operators Corp. 16,500 435 Progressive Corp. of Ohio 44,106 1,467 * Pronet, Inc. 22,100 265 Property Trust of America 24,800 443 Protective Life Corp. 14,900 600 Protein Design Labs 27,600 507 Provident Life & Accident Insurance Co. of America Class B 27,200 694 * Providential Corp. 33,200 174 Public Service Co. of Colorado 37,500 980 * Public Service Co. of New Mexico 25,120 289 Puerto Rican Cement Co., Inc. 13,700 392 Puget Sound Power & Light Co. 38,015 713 Pulitzer Publishing Co. 16,180 572 Puritan-Bennett Corp. 23,200 461 * Pyramid Technology Corp. 45,300 266 * Pyxis Corp. 21,200 405 * QMS, Inc. 39,800 279 * QVC Network, Inc. 24,725 943 Quaker State Corp. 48,500 679 * Qualcomm, Inc. 30,000 488 Quality Food Centers Inc. 12,124 274 Quanex Corp. 24,900 476 * Quarterdeck Office Systems 105,500 297 * Quantum Corp. 40,100 519 Questar Corp. 23,615 765 Quincy Savings Banks 24,600 595 RFS Hotel Investors, Inc. 13,000 228 * RJR Nabisco Holdings, Inc. 704,047 4,312 R.L.I. Corp. 17,200 372 * RPC Energy Services 44,700 369 RPM Inc. (Ohio) 32,925 558 * Rainbow Technologies, Inc. 16,600 201 * Rasterops 58,300 251
12 40
Market Value Shares (000)+ - - --------------------------------------------------------------- Raymond James Financial, Inc. 33,050 $ 479 * Read-Right Corp. 44,114 571 Reader's Digest Assn., Inc. Class A 72,200 2,996 * Reading & Bates Corp. 74,520 540 Redman Industries, Inc. 21,400 345 Regal-Beloit Corp. 15,900 425 Regions Financial Corp. 29,727 1,033 * Reliance Electric Co. 29,000 526 Reliance Group Holdings 66,714 359 * Rentrak Corp. 52,200 356 Republic New York Corp. 31,850 1,469 * Research Industries Corp. 37,150 293 Response Technologies, Inc. 79,000 217 Revco Drug Stores, Inc. 30,500 488 * Revco Drug Stores, Inc. Rights Exp. 7/7/94 9,302 17 Rexall Sundown, Inc. 40,200 332 Reynolds & Reynolds Class A 25,000 578 Rhone-Poulenc Rorer, Inc. 85,704 2,614 * Riedel Environmental 25,300 3 * Riggs National Corp. 49,900 443 Riverwood International Corp. 40,500 673 * Robert Half International, Inc. 24,300 981 * Roberts Pharmaceuticals 14,200 291 * Rochester Community Savings Bank 28,100 541 Rochester Gas and Electric Corp. 23,248 506 Rochester Telephone Corp. 42,244 956 Rockefeller Center Properties Inc. 72,800 419 Rodman and Renshaw Capital Group, Inc. 2,239 11 * Rogers Corp. 10,100 335 * Rohr, Inc. 37,200 391 Rollins, Inc. 22,000 536 Rollins Truck Leasing 31,050 520 Roosevelt Financial Group 29,100 467 * Ropak Corp. 43,644 245 Ross Stores, Inc. 35,200 513 * The Rottlund Co. 43,600 382 Rouse Co. 30,000 566 * Royal Appliance Manufacturing Co. 83,400 323 Royal Grip, Inc. 31,100 257 Russ Berrie, Inc. 33,100 505 Rust International, Inc. 51,500 785 * Rykoff-Sexton, Inc. 21,625 405 Ryland Group, Inc. 24,800 434 * SCI Systems, Inc. 33,300 502 SJW Corp. 9,300 334 SPI Pharmaceuticals 31,900 502 * SPS Transaction Services 8,300 464 * Safeguard Health Enterprises, Inc. 35,300 452 Safeguard Scientifics, Inc. 13,900 363 * Safety First Inc. 16,500 363 * Safeway, Inc. 62,928 1,502 St. Ives Laboratories, Inc. 39,500 301 St. Joe Paper Co. 18,600 925 St. Paul Bancorp, Inc. 27,150 597 * Salant Corp. 4,700 33 San Diego Gas & Electric Co. 71,200 1,317 Sanderson Farms, Inc. 23,700 409 * Sanifill, Inc. 24,200 611 Saul Centers, Inc. 22,800 402 Savannah Foods & Industries, Inc. 40,900 486 Sbarro, Inc. 14,394 536 Scana Corp. 27,900 1,196 * R. P. Scherer Corp. 13,726 453 * Scholastic Corp. 16,200 605 A. Schulman Inc. 26,262 676 Schult Home Corp. 22,700 301 Charles Schwab Corp. 35,489 878 * Sci-Med Life Systems, Inc. 10,400 272 * Scios Nova, Inc. 59,100 380 Scope Industries 2,400 62 E.W. Scripps Co. Class A 45,324 1,326 Scripps Howard Broadcasting 6,100 607 * Seagate Technology 42,042 825 Seafield Capital Corp. 12,100 454 Seagull Energy Corp. 22,700 587 * Sealed Air Corp. 21,600 599 * The Seibels Bruce Group, Inc. 25,700 49 Selective Insurance Group 19,000 480 * Selfix, Inc. 24,120 157 Sensormatic Electronics Corp. 36,561 1,051 Sequa Corp. Class A 14,900 440 * Sequent Computer Systems, Inc. 38,700 530 * Service Merchandise Co., Inc. 59,387 379 Shaw Industries, Inc. 87,400 1,442 Shawmut National Corp. 825 18 Shelby Williams Industries, Inc. 25,900 265 Shopko Stores, Inc. 45,855 459 Sholodge, Inc. 32,133 647 * Shorewood Packaging 35,200 664 * Show Biz Pizza Time, Inc. 25,600 285 Showboat, Inc. 21,016 352 Sierra Pacific Resources 33,000 619 * Sierra Semiconductor 45,294 377 Sigma Aldrich Corp. 30,200 1,216 Signet Banking Corp. 35,530 1,435 Silicon Graphics, Inc. 84,480 1,869 Simon Property Group 29,100 775 Sithe Energies, Inc. 32,000 372 Sizzler International 52,425 308 * Skybox International Inc. 43,300 498 A.O. Smith Corp. 18,500 472
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Market Value Shares (000)+ - - --------------------------------------------------------------- * Smith International, Inc. 55,300 $ 843 * Smithfield Foods, Inc. 26,600 748 Smiths Food & Drug Centers, Class B 21,200 400 J.M. Smucker Co. Class A 17,400 409 J.M. Smucker Co. Class B 1,200 26 Snapple Beverage Corp. 75,700 1,552 * Sofamor/Danek Group Inc. 29,900 389 Softdesk, Inc. 21,200 265 * Software Publishing Corp. 70,950 302 Solectron Corp. 24,900 632 Sonoco Products 53,700 1,108 Sotheby's Holdings Class A 32,800 406 South Jersey Industries, Inc. 18,784 338 * Southdown, Inc. 22,700 477 Southern Indiana Gas & Electric 19,254 529 Southern National Corp. 27,100 542 Southern New England Telecom Corp. 38,600 1,177 * Southern Pacific Rail Corp. 96,600 1,896 Southern Union Co. 21,654 382 * Southland Corp. 246,300 1,532 Southtrust Corp. 47,151 967 Southwest Airlines Co. 84,239 2,201 Southwest Gas Corp. 29,700 535 Southwestern Energy Co. 32,500 561 Southwestern Life Corp. 78,900 414 Southwestern Public Service Co. 24,200 602 Sovereign Bancorp, Inc. 49,038 527 * Spaghetti Warehouse, Inc. 36,600 275 Spartan Motors, Inc. 30,350 381 * Spec's Music Inc. 43,366 249 Spelling Entertainment 56,600 481 Spiegel, Inc. Class A 67,100 1,292 Standard Federal Bank 19,500 488 Standard Products Co. 18,050 528 The Standard Register Co. 21,700 461 Standex International Corp. 20,500 538 Stanhome, Inc. 11,500 380 Staples, Inc. 24,174 656 Star Banc Corp. 17,500 663 Starbucks Corp. 16,400 408 L. S. Starrett Co. Class A 16,700 359 L. S. Starrett Co. Class B 400 9 * Starter Corp. 36,600 375 State Street Boston Corp. 47,200 1,829 Station Casinos, Inc. 36,600 403 Sterling Chemicals, Inc. 64,700 607 * Sterling Software, Inc. 11,500 345 Stewart & Stevenson Services, Inc. 19,582 815 Stewart Information Services Corp. 19,800 359 * Stolt Nielson SA 19,100 329 Stone & Webster, Inc. 19,200 629 * Stop & Shop Cos. Inc. 30,100 722 * Storage Technology Corp. 25,345 827 * Stratus Computer, Inc. 14,900 421 Strawbridge & Clothier Class A 19,364 387 * Structural Dynamics Research Corp. 42,900 424 Stryker Corp. 30,000 799 Student Loan Marketing Assn. 54,000 1,944 Student Loan Corp. 27,300 536 * Submicron Systems Corp. 61,800 255 Summit Bancorp 29,180 627 * Summit Technology, Inc. 20,500 554 Sunamerica Inc. 20,100 822 Sunbeam Oster 49,900 998 Sundstrand Corp. 21,800 1,025 * Sungard Data Systems 11,400 416 Super Food Services, Inc. 40,600 482 * Supercuts, Inc. 29,700 316 Superior Industries International, Inc. 18,319 586 Surgical Care Affiliates, Inc. 28,800 382 * Swift Energy Co. 31,900 343 Swift Transportation Co., Inc. 22,350 721 Sybase, Inc. 28,400 1,388 * Sybron Corp. 22,000 660 * Symantec Corp. 38,300 407 * Symbol Technologies, Inc. 22,100 553 * Synergen, Inc. 36,450 292 * Synopsys, Inc. 15,563 586 SynOptics Communications, Inc. 38,400 521 Synovus Financial Corp. 40,500 724 Syntex Corp. 136,500 3,140 * Systemix, Inc. 21,930 387 * TBC Corp. 40,875 475 TCA Cable Television, Inc. 27,500 619 TCBY Enterprises, Inc. 62,100 342 TCF Financial Corp. 11,800 400 TECO Energy, Inc. 70,500 1,348 * TIE Communications, Inc. 11,000 83 TIG Holdings, Inc. 38,500 770 TJ International, Inc. 20,700 398 TNP Enterprises, Inc. 23,800 357 * T.P.I. Enterprises, Inc. 43,200 257 T Squared Medical 26,600 276 * Takecare, Inc. 7,900 606 Talbots, Inc. 21,500 645 * Talley Industries, Inc. 51,700 336 Tambrands, Inc. 23,477 863 Taubman Co. 51,200 589 * Tech Data Corp. 34,600 580 * Technical Communications Corp. 20,300 150
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Market Value Shares (000)+ - - --------------------------------------------------------------- * Technology Solutions Co. 59,300 $ 360 Tecumseh Products Co. Class A 6,400 297 Tecumseh Products Co. Class B 11,800 580 Tejas Gas Corp. 11,887 571 Tejon Ranch Co. 28,800 392 Teleflex Inc. 13,400 437 Telephone & Data Systems, Inc. 30,838 1,141 Tellabs, Inc. 34,300 1,059 Telxon Corp. 36,300 581 * Teradyne, Inc. 21,200 562 Terra Industries, Inc. 82,992 643 * Tesoro Petroleum Corp. 54,000 587 Texas Industries, Inc. 14,157 476 Thermo Electron Corp. 28,650 1,067 Thermo Instrument Systems, Inc. 28,100 794 Thermedics, Inc. 42,000 614 Thiokol Corp. 22,200 536 * 3 Com Corp. 18,400 946 Tidewater, Inc. 32,000 744 Tiffany & Co. 18,766 650 * Todd Shipyards Corp. 26,800 114 * Tokos Medical 72,378 299 Tootsie Roll Industries, Inc. 6,543 387 The Topps Co., Inc. 76,340 544 The Toro Co. 17,200 409 Tosco Corp. 20,166 600 Total Petroleum (North America) Ltd. 46,800 562 Total System Services, Inc. 20,400 413 Transatlantic Holdings 13,700 716 Transtechnology Corp. 28,800 367 * Tremont Corp. 46,895 363 * Triarc Cos. Inc. 25,000 413 Trimas Corp. 22,800 524 * Trimble Navigation Ltd. 37,400 358 * Trimedyne, Inc. 39,600 225 Trinity Industries, Inc. 23,450 824 * Triton Energy Corp. 21,372 708 Trustco Bank 22,104 503 * Tucson Electric Power Co. 120,400 361 * Tuesday Morning, Inc. 62,400 226 Tultex Corp. 66,100 306 Turner Broadcasting Class A 26,900 457 Turner Broadcasting Class B 90,800 1,578 20th Century Industries 30,600 516 Tyco Toys, Inc. 54,598 382 Tyson Foods, Inc. 89,907 2,107 UGI Corp. Holding Co. 18,955 377 United Jersey Bank Financial Corp. 31,300 865 UMB Financial Corp. 17,037 569 * UNC, Inc. 62,700 345 * URS Corp. 29,050 153 USG Corp. 27,200 493 USLICO Corp. 23,800 440 Ultramar Corp. 23,100 606 Unifi, Inc. 43,925 1,027 Union Bank of San Francisco 21,108 625 * Union Corp. 33,700 320 Union Planters Corp. 24,702 661 Union Texas Petroleum Holdings 56,200 1,005 United Asset Management Co. 15,100 498 United Carolina Bancshare Corp. 20,500 479 United Cos. Finance Corp. 14,894 611 United Dominion Industries Ltd. 35,185 616 * United Gaming, Inc. 37,800 196 * United Guardian, Inc. 51,400 199 United Illuminating Co. 16,600 546 * United International Holdings, Inc. Class A 22,800 314 * United States Banknotes 85,600 300 * U.S. Bioscience 54,829 370 * United States Cellular 34,800 866 * U.S. Energy Corp. 52,630 247 * U.S. Long Distance Corp. 31,500 321 U.S. Shoe Corp. 36,965 702 United States Trust Corp. 11,800 600 United Stationers, Inc. 35,200 343 * United Television, Inc. 18,200 878 United Water Resources, Inc. 48,944 630 Unitil Corp. 16,900 283 Unitrin Inc. 31,870 1,271 Universal Corp. 21,200 413 Universal Foods Corp. 16,362 517 * Universal Health Services Class B 22,500 588 US Bancorp, Inc. 13,800 347 Utilicorp United, Inc. 25,510 730 VSB Bancorp, Inc. 7,776 165 * Vaalco Energy, Inc. 84,900 233 Valassis Communication 42,200 680 Valero Energy Corp. 25,800 452 Valhi, Inc. 107,100 549 Valley National Bancorp 18,067 479 Valspar Corp. 12,800 467 * Value City Department Stores, Inc. 36,100 483 * Value Health, Inc. 22,796 872 * Vanguard Cellular Systems, Inc. Class A 16,058 528 * Varco International, Inc. 65,100 439 Varian Associates, Inc. 21,400 760 Vectra Tech Inc. 48,600 231 * Vencor, Inc. 18,550 640 * Ventritex Inc. 26,100 483 Venture Stores, Inc. 24,900 492 * VeriFone, Inc. 29,500 457
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Market Value Shares (000)+ - - --------------------------------------------------------------- Versa Technology, Inc. 16,900 $ 213 * Vertex Communications Corp. 18,000 223 * Vestar, Inc. 50,800 305 * Viacom International Class A 19,400 655 * Viacom International Class B 55,800 1,765 * Vicor Corp. 26,700 504 * Vicorp Restaurants, Inc. 25,200 365 Viking Office Products 23,600 593 Virco Manufacturing Corp. 14,054 112 Virginia Beach Federal Financial Corp. 11,850 104 Vishay Intertechnology, Inc. 14,289 577 * Vital Signs, Inc. 19,564 191 * Vons Cos., Inc. 25,700 437 Vornado Realty Trust 13,598 496 Vulcan International Corp. 5,900 121 Vulcan Materials Co. 21,800 1,000 * WMS Industries, Inc. 18,000 342 WPL Holdings, Inc. 18,600 507 * Waban, Inc. 34,400 572 Wackenhut Corp. 24,700 361 * Wainoco Oil Corp. 72,200 343 Wallace Computer Services, Inc. 13,400 429 * Warnaco Group 18,800 552 Washington Energy Co. 30,207 446 Washington Federal Savings & Loan Assn. 23,390 512 Washington Gas Light Corp. 12,601 476 Seattle (WA) Mutual Savings Bank 36,385 755 Washington National Corp. 20,350 432 Washington Post Co. Class B 7,100 1,642 Washington Real Estate Investment Trust 25,400 492 Washington Water Power Co. 31,300 450 Watts Industries Class A 26,200 616 Wausau Paper Mills Co. 16,799 399 * Weatherford International, Inc. 55,400 748 Del E. Webb Corp. 29,000 457 Webster Financial Corp. 19,580 436 Weingarten Realty Investors 15,700 597 Weis Markets, Inc. 26,700 674 * Wellfleet Communications 36,800 918 Wellman, Inc. 19,155 534 * Wellpoint Health Networks, Inc. Class A 61,700 1,820 Werner Enterprises, Inc. 24,700 695 Wesco Financial Corp. 4,158 481 West Co., Inc. 17,400 376 West One Bancorp 20,112 576 * Western Beef 40,660 239 * Western Digital Corp. 29,800 380 Western Gas Resources, Inc. 15,100 400 * Western Publishing Group, Inc. 36,500 431 Western Resources, Inc. 37,586 1,010 * Roy F. Weston, Inc. 41,500 249 Westpoint Stevens, Inc. 38,800 534 * Westwood One, Inc. 13,300 102 Wheelabrator Technologies 114,406 2,131 * Wheeling Pittsburgh Corp. 31,850 557 * White River 12,042 394 * Whittaker Corp. 24,600 369 John Wiley & Sons Class A 6,600 566 Willamette Industries, Inc. 33,100 1,423 * Willcox & Gibbs, Inc. 49,644 316 * Clayton Williams Energy, Inc. 40,500 278 Wilmington Trust Corp. 23,000 615 * Windmere Corp. 36,500 360 * Windmere Corp. Warrants Exp. 1/19/98 297 1 * Wisconsin Central Transportation Corp. 5,100 329 Wisconsin Energy Corp. 66,461 1,587 Wisconsin Public Service Corp. 14,600 412 Wiser Oil Co. 26,200 419 Witco Chemical Corp. 35,100 1,044 Wolverine World Wide, Inc. 26,800 570 * World Corp. 49,900 200 * Worldtex Inc. 75,544 378 Wyle Laboratories 22,700 380 * Wyman Gordon Corp. 70,400 427 * Xilinx, Inc. 13,900 476 * Xoma Corp. 54,000 145 Xtra Corp. 9,900 478 * Xylogics, Inc. 16,600 293 Yankee Energy Systems 18,577 464 York International Corp. 23,000 845 Zenith National Insurance Corp. 31,460 728 Zions Bancorp. 14,400 581 * Zurich Reinsurance Centre Holdings, Inc. 15,600 419 * Zycad Corp. 39,400 106 - - --------------------------------------------------------------- TOTAL COMMON STOCKS (97.6%)(1) (Cost $825,018) 896,715 - - ---------------------------------------------------------------
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Face Market Amount Value (000) (000)+ - - --------------------------------------------------------------- TEMPORARY CASH INVESTMENTS (2.7%) - - --------------------------------------------------------------- U.S. TREASURY BILL--Note D 4.26%, 9/22/94 $ 700 $ 693 REPURCHASE AGREEMENT Collateralized by U.S. Government Obligations in a Pooled Cash Account 4.26%, 7/1/94 23,732 23,732 - - --------------------------------------------------------------- TOTAL TEMPORARY CASH INVESTMENTS (Cost $24,425) 24,425 - - --------------------------------------------------------------- TOTAL INVESTMENTS (100.3%) (Cost $849,443) 921,140 - - --------------------------------------------------------------- OTHER ASSETS AND LIABILITIES (-.3%) Other Assets--Notes B and E 45,951 Liabilities--Note E (48,318) --------- (2,367) - - --------------------------------------------------------------- NET ASSETS (100%) - - --------------------------------------------------------------- Applicable to 50,503,083 outstanding shares of beneficial interest (unlimited authorization) $918,773 - - --------------------------------------------------------------- NET ASSET VALUE PER SHARE $18.19 ===============================================================
+ See Note A to Financial Statements. (1) The combined market value of common stocks, New York Stock Exchange Composite Index, Standard & Poor's Midcap 400 Index, and Russell 2000 Index futures contracts represents 100.1% of net assets. * Non-Income Producing Security.
- - --------------------------------------------------------------- AT JUNE 30, 1994, NET ASSETS CONSISTED OF: - - --------------------------------------------------------------- Amount Per (000) Share --------- --------- Paid in Capital--Note C $812,154 $16.08 Undistributed Net Investment Income 6,630 .13 Accumulated Net Realized Gains--Note C 29,213 .58 Unrealized Appreciation of Investments--Note D 70,776 1.40 - - --------------------------------------------------------------- NET ASSETS $918,773 $18.19 - - ---------------------------------------------------------------
Market Value TOTAL STOCK MARKET PORTFOLIO Shares (000) - - --------------------------------------------------------------- COMMON STOCKS - - --------------------------------------------------------------- * ABC Rail Products Corp. 9,500 $ 181 * ADC Telecommunications, Inc. 6,000 244 * AES Corp. 10,026 190 AFLAC, Inc. 15,886 536 * AGCO Corp. 4,400 161 * AMR Corp. 10,093 599 ARCO Chemical Co. 13,000 590 * AST Research, Inc. 10,700 151 AT&T Corp. 188,862 10,269 AT&T Capital Corp. 5,500 126 Abbott Laboratories, Inc. 113,329 3,286 * Abex, Inc. 13,279 96 * Ace Cash Express, Inc. 2,700 21 * Action Performance Cos., Inc. 30,400 156 * Acuson Corp. 11,312 148 Adobe Systems, Inc. 5,500 151 * Advacare Inc. 13,500 32 * Advanced Magnetics, Inc. 6,000 82 * Advanced Micro Devices, Inc. 12,260 305 * Advanced Technologies Laboratories, Inc. 10,939 142 * Advanced Tissue Sciences Inc. 9,600 42 * Advanta Corp. Class A 5,850 208 Aetna Life & Casualty Co. 15,750 880 * Agency Rent-a-Car, Inc. 9,139 101 H.F. Ahmanson & Co. 15,623 295 * Air and Water Technologies Corp. Class A 15,400 140 * Air Products & Chemicals, Inc. 16,829 713 Airborne Freight Corp. 5,390 187 * Airtouch Communications 68,272 1,613 Alamo Group, Inc. 8,600 139 Albank Financial Corp. 4,300 98 Albemarle Corp. 16,715 274 Alberto-Culver Co. Class B 5,723 124 Albertson's, Inc. 36,574 1,006 Alco Standard Corp. 7,253 414 Alex Brown & Sons, Inc. 7,280 180 * Aldus Corp. 6,647 169 Alexander & Alexander Services, Inc. 4,220 68 Alexander & Baldwin, Inc. 5,400 138 * Alexander's, Inc. 3,000 155 * All American Semiconductor, Inc. 34,600 95 * Alleghany Corp. 2,018 300 Allegheny Ludlum Corp. 10,400 192 * Allegheny Power System, Inc. 16,700 351 Allergan, Inc. 9,029 195 * Alliance Entertainment 25,300 130 * Alliance Pharmaceutical Corp. 16,700 161 * Alliant Techsystems, Inc. 6,500 188
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Market Value Shares (000)+ - - --------------------------------------------------------------- Allied Capital Commercial Corp. 8,100 $ 136 Allied Capital Lending Corp. 4,900 67 Allied-Signal, Inc. 39,294 1,360 * Allmerica Property & Casualty Cos. 16,700 280 Allstate Corp. 11,800 280 ALLTEL Corp. 26,300 661 * Allwaste, Inc. 17,200 101 * Alumax, Inc. 5,241 134 Aluminum Co. of America 12,492 913 * ALZA Corp. 11,631 273 * Amax Gold, Inc. 26,193 206 AMBAC, Inc. 5,122 201 Amcast Industrial Corp. 3,400 74 * Amdahl Corp. 23,173 127 Amerada Hess Corp. 13,180 649 * American Annuity Group Inc. 13,817 123 American Brands, Inc. 28,097 888 American Classic Voyager Co. 10,000 162 American Cyanamid Co. 12,227 685 American Electric Power Co., Inc. 24,790 700 American Express Co. 68,360 1,760 American General Corp. 29,620 818 American Greetings Corp. Class A 9,962 298 American Health Properties, Inc. 6,500 156 American Home Products Corp. 43,111 2,446 American International Group, Inc. 44,248 3,833 * American List Corp. 5,775 106 * American Medical Holdings, Inc. 9,700 244 American National Insurance Co. 3,800 179 * American Power Conversion Corp. 12,000 193 American Premier Underwriters Inc. 5,900 148 * American President Cos., Ltd. . 9,200 206 * American Re Corp. 6,600 204 American Stores Co. 19,790 485 American Studios, Inc. 36,800 124 Amerifed Financial Corp. 2,100 90 Ameritech Corp. 76,530 2,927 Ametek, Inc. 16,100 237 * Amgen, Inc. 18,160 777 Amoco Corp. 68,930 3,929 AMP, Inc. 14,842 1,028 * Amphenol Corp. 14,000 224 * Amsco International, Inc. 22,585 186 Amsouth Bancorp 6,574 206 Amtech Corp. 3,375 39 * Amylin Pharmaceuticals, Inc. 6,900 41 Anadarko Petroleum Corp. 8,400 429 * Analog Devices, Inc. 7,069 203 * Anchor Bancorp Inc. 8,100 127 * Andrew Corp. 5,325 194 * Andros Analyzers 4,900 88 Angelica Corp. 3,300 87 Anheuser-Busch Co., Inc. 37,680 1,912 * Ann Taylor Stores Corp. 7,200 276 * Anthem Electronics, Inc. 2,514 52 * Anthony Industries, Inc. 5,869 90 Aon Corp. 14,448 489 Apache Corp. 12,269 339 Apple Computer, Inc. 15,755 417 * Applied Bioscience International, Inc. 10,300 60 * Applied Materials, Inc. 11,000 470 Arbor Drugs, Inc. 10,900 204 Archer-Daniels-Midland Co. 44,607 1,037 Argent Bank 2,000 43 Argonaut Group, Inc. 8,881 244 * Armco, Inc. 17,296 97 Armor All Products Corp. 5,200 111 Armstrong World Industries Inc. 5,192 242 * Arrow Electronics, Inc. 4,600 171 * Artisoft, Inc. 9,104 135 Asarco, Inc. 7,124 200 Ashland Oil, Inc. 8,371 281 * Aspect Telecommunications 5,800 163 * Associated Communication Corp. Class B 8,000 201 Astro-Med, Inc. 4,300 40 * Asyst Technologies, Inc. 11,500 135 Atlanta Gas Light Co. 3,800 129 * Atlanta Sosnoff Capital 8,900 52 Atlantic Energy, Inc. 6,300 107 Atlantic Richfield Co. 22,151 2,262 Atlantic Southeast Airlines Inc. 4,100 100 * Atmos Energy Corp. 3,750 69 * Atwood Oceanics, Inc. 4,400 57 * Aura Systems, Inc. 20,500 180 Autodesk, Inc. 3,195 158 Automatic Data Processing, Inc. 20,101 1,068 * Automotive Industries Inc. Class A 5,200 139 * Autozone, Inc. 19,300 470 Avemco Corp. 8,700 121 Avery Dennison Corp. 7,787 226 Aviall Inc. 12,919 111 Avnet, Inc. 4,900 154 Avon Products, Inc. 9,765 575 * BHC Communications, Inc. Class A 3,700 283 * BMC Industries, Inc. 6,200 168 * BMC Software, Inc. 3,900 170 * BMJ Financial Corp. 13,900 156 * BOK Financial Corp. 3,000 61 * BPI Packaging Technologies Inc. 28,900 110 * Badger Paper Mills, Inc. 9,300 110 Baker Hughes, Inc. 18,190 373 Baldor Electric Co. 4,920 115
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Market Value Shares (000)+ - - --------------------------------------------------------------- * Baldwin Technology Class A 11,900 $ 54 Ball Corp. 9,501 247 * Ballard Medical Products 7,466 76 Baltimore Gas & Electric Co. 20,553 437 * Banc One Corp. 52,000 1,781 Bancorp Hawaii, Inc. 5,900 188 Bandag, Inc. 2,738 141 Bandag, Inc. Class A 538 25 Bangor Hydro-Electric Co. 6,900 91 * Bank of Boston Corp. 14,089 347 The Bank of New York Co., Inc. 25,486 736 Bank North Group 3,300 70 BankAmerica Corp. 49,918 2,284 Bankers Corp. 8,580 153 Bankers Life Holding Corp. 6,900 139 Bankers Trust New York Corp. 11,071 738 BanPonce Corp. 9,477 299 C.R. Bard, Inc. 6,118 146 * Barefoot, Inc. 4,700 155 Barnes Group, Inc. 2,700 95 Barnett Banks of Florida, Inc. 13,046 571 * Barr Labs Inc. 5,500 102 Bassett Furniture Industries, Inc. 2,863 81 * Battle Mountain Gold Co. Class A 16,600 170 Bausch & Lomb, Inc. 7,768 287 Baxter International, Inc. 38,658 1,015 Baybanks, Inc. 2,700 162 Bear Stearns Co., Inc. 15,866 270 Beauticontrol Cosmetics 5,800 82 Becton, Dickinson & Co. 10,061 411 Bell Atlantic Corp. 60,567 3,392 * Bell Bancorp, Inc. 1,800 97 Bell Industries, Inc. 9,700 161 BellSouth Corp. 69,255 4,276 A. H. Belo Corp. Class A 3,200 138 Bemis Co., Inc. 7,201 160 Beneficial Corp. 7,006 256 Bergen Brunswig Corp. Class A 7,049 118 * Berkshire Hathaway 168 2,730 Berkshire Realty Co., Inc. 18,400 196 * Berlitz International, Inc. 11,928 161 Berry Petroleum Class A 6,800 65 * Bertucci's Holding Corp. 7,800 109 * Best Buy, Inc. 8,100 234 * BET Holdings Inc. Class A 4,700 69 * Bethlehem Steel Corp. 13,682 255 * Bettis Corp. 6,600 31 Betz Laboratories, Inc. 3,900 165 * Beverly Enterprises Inc. 20,179 245 * Biogen, Inc. 7,500 215 * Biomet, Inc. 14,089 149 * Biotechnology General 26,600 68 * Black & Decker Corp. 11,841 204 Black Hawk Gaming & Development Co., Inc. 13,300 120 E. W. Blanch Holdings, Inc. 6,000 128 Blimpie International, Inc. 8,300 51 Block Drug Co. Class A 3,451 111 H & R Block, Inc. 14,256 560 Blockbuster Entertainment Corp. 33,918 878 * Boatmen's Bancshares, Inc. 14,246 447 Bob Evans Farms, Inc. 11,500 248 Boddie Noell Restaurant 12,800 182 The Boeing Co. 47,414 2,193 Boise Cascade Corp. 10,538 233 * Bolt Beranek and Newman, Inc. 12,000 144 Borden, Inc. 18,260 226 * Borland International, Inc. 17,700 181 Boston Edison Co. 6,700 176 * Boston Scientific Corp. 14,400 182 Bowater, Inc. 11,800 291 * Breed Technological Inc. 6,500 180 Briggs & Stratton Corp. 3,514 235 * Bright Voice Systems, Inc. 13,000 143 * Brinker International, Inc. 9,224 194 Bristol-Myers Squibb Co. 71,514 3,835 Brooklyn Union Gas Co. 5,150 126 Brown-Forman Corp. Class B 9,351 264 Browning-Ferris Industries, Inc. 26,209 796 Bruno's Inc. 11,944 85 Brunswick Corp. 13,297 293 Bryn Mawr Bank Corp. 1,900 62 * Burlington Coat Factory Warehouse Corp. 7,875 136 Burlington Northern, Inc. 12,287 656 Burlington Resources, Inc. 17,800 736 Burnham Pacific Properties, Inc. 10,800 184 * Business Records Corp. 3,500 105 CBI Industries, Inc. 7,591 213 CBS, Inc. 2,204 683 CCP Insurance, Inc. 4,700 96 CFSB Bancorp, Inc. 3,600 68 CIGNA Corp. 9,863 721 CIPSCO, Inc. 3,600 92 CML Group, Inc. 11,700 137 CMS Energy Corp. 11,161 233 * CNA Financial Corp. 8,333 512 CPC International, Inc. 20,843 1,006 CPI Corp. 4,500 75 CRI Liquidating REIT, Inc. 10,400 59 CSX Corp. 14,203 1,072 * CUC International, Inc. 15,550 416 * Cabletron Systems, Inc. 4,167 403 Cabot Corp. 2,700 138
19 47
Market Value Shares (000)+ - - --------------------------------------------------------------- * Cadence Design Systems, Inc. 17,100 $ 286 Cadmus Communications 6,700 121 * Caesars World, Inc. 5,100 185 * Caldor Corp. 3,100 87 Calgon Carbon Corp. 8,300 114 * California Federal Bank Class A 18,700 220 Callaway Golf Co. 7,800 304 Camco International, Inc. 9,800 200 Campbell Soup Co. 34,999 1,203 * Canonie Environmental Services Corp. 3,600 14 Capital Bancorporation 3,700 81 Capital Cities/ABC, Inc. 21,820 1,552 Capital Re Corp. 9,100 191 Capitol American Financial Corp. 8,500 200 * Capsure Holdings 5,200 79 Caraustar Industries, Inc. 12,100 209 Cardinal Health, Inc. 3,900 190 * Caremark International, Inc. 10,564 176 * Carmike Cinemas, Inc. Class A 4,500 82 Carnival Corp. Class A 19,436 860 Carolina Power & Light Co. 21,566 499 Carpenter Technology Corp. 1,700 102 Carter-Wallace, Inc. 4,800 89 * Casino Magic Corp. 5,600 32 Catalyst Semiconductor, Inc. 33,100 62 * Catellus Development Corp. 23,600 174 Caterpillar, Inc. 14,199 1,420 * Catherines Stores 18,300 162 * Cellular Communications Series A 3,000 143 * Celtrix Labs 7,000 42 * Center Banks Inc. 14,800 185 Centerior Energy Corp. 19,900 201 Centex Corp. 4,236 109 * Centigram Communications 3,800 71 Central & South West Corp. 25,102 533 Central Fidelity Banks, Inc. 5,750 188 Central Hudson Gas & Electric Corp. 8,000 210 Central Jersey Bancorp 5,800 178 Central Louisiana Electric Co. 3,908 92 Central Newspapers Inc. 7,950 226 Central Reserve Life Corp. 14,900 125 Century Telephone Enterprises, Inc. 7,780 201 * Ceridian Corp. 12,235 301 * Chalone Wine Group Ltd. 27,800 160 Champion International Corp. 12,352 406 * Chantal Pharmaceutic Corp. 10,100 9 Charming Shoppes, Inc. 11,392 105 * Charter One Financial 4,200 86 The Chase Manhattan Corp. 26,114 999 Chealsea GCA Realty, Inc. 2,900 79 * Checkers Drive-In Restaurant 8,550 50 Chemed Corp. 2,900 104 Chemical Banking Corp. 35,354 1,361 * Chemical Waste Management 28,200 247 Chesapeake Corp. of Virginia 6,217 159 Chester Valley Bancorp. 900 18 Chevron Corp. 90,672 3,797 * Cheyenne Software, Inc. 6,525 55 * Chic by H.I.S., Inc. 10,800 135 Chicago and Northwestern Transportation Co. 11,300 261 * Chipcom Corp. 5,100 201 Chiquita Brands International, Inc. 17,235 215 * Chiron Corp. 4,228 231 Chittenden Corp. 6,575 136 Chrysler Corp. 49,420 2,329 The Chubb Corp. 12,381 949 Church and Dwight, Inc. 4,600 105 * Churchill Downs, Inc. 3,200 139 Cilcorp, Inc. 6,600 192 Cincinnati Bell, Inc. 7,800 128 Cincinnati Financial Corp. 6,500 345 Cincinnati Gas & Electric Co. 11,350 247 * Cintas Corp. 5,700 185 * Circa Pharmaceuticals Inc. 9,900 92 * Circon Corp. 16,200 150 Circuit City Stores, Inc. 12,736 261 * Circus Circus Enterprises Inc. 11,241 242 * Cisco Systems, Inc. 34,528 803 * Citicorp 54,042 2,155 Citizens Corp. 14,400 252 * Citizens First Bancorp, Inc. 14,100 127 * Citizens Utilities Co. Class A 23,881 331 * Clayton Homes Inc. 8,312 146 * Clear Channel Communications 3,906 147 Clorox Co. 7,202 352 * Coast Savings Financial, Inc. 5,300 89 Coastal Corp. 13,616 368 * Coastal Healthcare Group, Inc. 3,700 124 Coca-Cola Bottling Co. 3,200 89 The Coca-Cola Co. 180,735 7,342 Coca-Cola Enterprises, Inc. 17,300 294 * Coeur D'Alene Mines Corp. 10,500 196 * Cognex Corp. 5,600 78 * Coherent Communications Rights Exp. 7/21/94 4,000 9 Colgate-Palmolive Co. 20,751 1,079 Collective Bancorporation Inc. 7,349 161 * Coltec Inc. 8,400 156 * Columbia First Federal Savings and Loan Assn. 2,300 93 * Columbia Gas Systems, Inc. 6,198 167 Columbia/HCA Healthcare Corp. 47,038 1,764
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Market Value Shares (000)+ - - --------------------------------------------------------------- Columbia Real Estate Investments, Inc. 10,900 $ 110 * Comcast Corp. Class A 12,860 231 * Comcast Corp. Class A Special 20,650 370 * Comdial Corp. 8,300 25 Comdisco, Inc. 13,200 252 Comerica, Inc. 16,952 479 * Commander Aircraft Co. 28,600 125 Commerce Clearing House, Inc. Class A 3,500 60 Commerce Clearing House, Inc. Class B 5,500 95 * Commercial Federal Corp. 8,800 208 * Commercial Metals Co. 5,100 131 Commonwealth Edison Co. 29,361 668 * Community Healthcare Systems 5,799 120 * Community Psychiatric Centers 15,263 181 * Compaq Computer Corp. 34,580 1,115 * CompUSA, Inc. 10,500 93 * Computer Associates International, Inc. 22,894 916 * Computer Sciences Corp. 6,784 282 * Compuware Corp. 6,900 285 Comsat Corp. 4,700 109 Conagra, Inc. 34,583 1,055 * Cone Mills Corp. 16,500 212 Connecticut Natural Gas Corp. 2,400 61 Connecticut Water Services, Inc. 4,000 93 * Conner Peripherals, Inc. 13,707 166 Conrail, Inc. 11,348 621 Conseco, Inc. 3,700 173 * Consilium, Inc. 6,700 41 Consolidated Edison Co. of New York, Inc. 32,896 872 Consolidated Natural Gas Co. 12,485 471 Consolidated Papers 6,400 278 * Consolidated Stores, Inc. 7,159 88 * Contel Cellular, Inc. 14,448 240 Continental Bank Corp. 7,400 268 Continental Corp. 6,564 102 * Continuum Inc. 7,900 161 * Control Data Corp. 17,533 158 * Convex Computer Corp. 14,000 81 Cooper Industries, Inc. 15,512 558 Cooper Tire & Rubber Co. 11,252 260 * Cordis Corp. 4,300 167 CoreStates Financial Corp. 26,485 682 Corning, Inc. 29,514 963 Countrywide Credit Industries, Inc. 13,317 191 Cracker Barrel Old Country Stores, Inc. 8,354 198 * Craig Corp. 6,577 85 Crane Co. 4,948 131 * Cray Research, Inc. 5,109 116 * Creative Technology 28,300 124 * Credit Acceptance Corp. 6,250 145 * Cree Research, Inc. 9,000 90 Crestar Financial Corp. 6,020 274 Criimi Mae Inc. 6,700 70 Crompton & Knowles Corp. 5,900 102 * Crosscom Corp. 2,600 24 * Crown Books Corp. 8,500 149 * Crown Cork & Seal Co., Inc. 12,635 471 Crown Crafts, Inc. 7,300 138 * Cryomedical Sciences 50,100 113 Cummins Engine Co., Inc. 6,066 262 * Cygne Designs, Inc. 6,900 150 * Cygnus Therapeutic Systems 17,300 136 Cyprus Amax 13,148 391 * Cytec Industries, Inc. 1,418 28 * Cytrex Corp. 16,300 68 * DF & R Restaurants, Inc. 3,000 70 DPL, Inc. 14,150 279 DQE Inc. 7,200 213 * DSC Communications Corp. 14,302 280 * Daily Journal Corp. 3,100 56 Dames & Moore, Inc. 5,400 79 Dana Corp. 13,446 383 * Data Race, Inc. 4,300 23 Dauphin Deposit Bank & Trust 10,820 281 * Davel Communications Group, Inc. 4,800 50 Dayton-Hudson Corp. 10,094 818 Dean Foods Corp. 8,467 229 Dean Witter Discover & Co. 24,050 902 Deere & Co. 11,964 809 * Dell Computer 10,500 277 Delmarva Power & Light Co. 6,700 121 * Delphi Information Systems Inc. 35,900 130 Delta Air Lines, Inc. 6,723 304 Deluxe Corp. 10,736 283 * Dentsply International 3,300 115 * Desoto, Inc. 17,000 102 * Destec Energy Inc. 6,800 68 * Detroit Diesel Corp. 8,300 212 Detroit Edison Co. 20,096 497 Developers Divers Realty Corp. 7,000 217 Dexter Corp. 5,000 121 Diagnostic Products Corp. 4,100 89 The Dial Corp. 6,312 270 * Dial Page, Inc. 6,200 172 * Diasonics Ultrasound 33,500 130 Dibrell Brothers, Inc. 3,500 60 * Diebold, Inc. 6,793 290 * Digi International, Inc. 3,600 54
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Market Value Shares (000)+ - - --------------------------------------------------------------- * Digital Equipment Corp. 18,484 $ 358 Dillard Department Stores Class A 15,450 477 The Walt Disney Co. 75,219 3,131 * Dr. Pepper/Seven Up Cos., Inc. 8,500 196 Dole Food Co. 8,500 230 Dollar General Corp. 7,890 198 Dominion Resources, Inc. 23,443 853 R.R. Donnelley & Sons Co. 22,802 633 Donnelly Corp. 4,100 65 * Dovatron International Inc. 6,657 131 Dover Corp. 7,471 440 Dow Chemical Co. 37,980 2,483 Dow Jones & Co., Inc. 13,595 421 * Dravo Corp. 14,639 159 * The Dress Barn, Inc. 7,400 74 Dresser Industries, Inc. 23,876 489 Dreyfus Corp. 4,700 228 * Drug Emporium, Inc. 33,370 173 E.I. du Pont de Nemours & Co. 94,512 5,517 * Dual Drilling Co. 16,700 184 Duke Power Co. 28,611 1,023 The Dun & Bradstreet Corp. 24,772 1,375 Duracell International, Inc. 16,425 641 Duriron Co., Inc. 5,250 86 Duty Free International Inc. 6,274 67 EG & G, Inc. 14,836 223 * EMC Corp. 25,100 339 * ESSEF Corp. 5,000 72 E-Systems, Inc. 4,054 152 * Easel Corp. 12,300 49 Eastern Enterprises 9,077 208 Eastern Utilities Associates 5,071 117 Eastman Chemical 13,744 656 Eastman Kodak Co. 45,577 2,193 Eaton Corp. 10,296 535 Echlin, Inc. 8,442 254 * Echo Bay Mines Ltd. 15,800 170 Ecolab, Inc. 9,292 204 Edison Brothers Stores, Inc. 4,200 106 * Edisto Resources Corp. 25,400 194 Edo Corp. 17,800 80 * Education Alternatives, Inc. 7,700 95 A.G. Edwards & Sons, Inc. 6,733 116 El Paso Natural Gas 4,449 143 Elco Industries Inc. 5,700 101 * Electronic Arts 13,700 190 Emerson Electric Co. 31,417 1,787 Empire District Electric Co. 9,700 159 * Empire of Carolina, Inc. 6,200 38 Emulex 23,950 163 Energen Corp. 3,200 67 * Energy Ventures Inc. 11,900 152 * Engelhard Corp. 12,576 318 Enquirer/Star Group Inc. Class A 9,800 173 Enron Corp. 34,082 1,116 Enron Oil & Gas Co. 22,124 509 ENSERCH Corp. 7,912 114 Entergy Corp. 32,424 802 * Enterra Corp. 10,106 212 Equifax, Inc. 12,200 345 The Equitable Cos. 20,400 362 Equitable of Iowa Co. 9,500 300 Equitable Resources, Inc. 4,900 168 * Ethan Allen Interiors Inc. 7,200 148 * Ethyl Corp. 15,530 188 * Exabyte Corp. 7,200 104 Excel Realty Trust, Inc. 7,800 154 * Expeditors International of Washington, Inc. 5,900 103 * Express America Holdings Co. 13,400 127 * Express Scripts 5,300 131 * Exstar Financial Corp. 5,800 46 Exxon Corp. 173,334 9,815 * FHP International Corp. 9,600 228 FM Properties Inc. 35,900 121 * FMC Corp. 5,276 286 FMC Gold Co. 37,300 200 F.N.B. Corp. 8,132 129 FPL Group, Inc. 26,234 784 * Fair Issac & Co. 4,100 122 Family Dollar Stores, Inc. 8,300 111 * Farm & Home Financial Corp. 3,450 111 Farmer Brothers, Inc. 1,200 153 Fay's Drug Co. 10,075 67 * Fedders Corp. 12,345 94 * Federal Express Corp. 7,521 561 Federal Home Loan Mortgage Corp. 24,608 1,489 Federal-Mogul Corp. 9,000 262 Federal National Mortgage Assn. 37,896 3,164 Federal Paper Board Co., Inc. 8,728 200 Federal Signal Corp. 12,662 215 * Federated Stores 16,700 334 Ferro Corp. 4,700 109 Fifth Third Bancorp 8,600 452 * 50-Off Stores, Inc. 7,400 26 Figgie International Inc. Class A 9,500 96 Figgie International Inc. Class B 900 9 * Filene's Basement Corp. 13,700 132 * Filenet Corp. 6,900 119 Fina Inc. 2,200 167 Fingerhut Co. 7,654 186 First American Bank Corp. 7,700 274 First American Corp. (Tenn.) 5,700 186 First American Financial Corp. 5,500 127
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Market Value Shares (000)+ - - --------------------------------------------------------------- First Bancorp of Ohio 8,300 $ 209 First Bank System, Inc. 15,200 555 First Chicago Corp. 12,122 583 First Citizens Bancshares Class A 2,000 87 First Colonial Bankshares 6,300 145 First Colony Corp. 5,824 125 * First Commerce Corp. 3,892 110 First Commercial Bank Shares Class A 2,900 48 First Commonwealth Financial Corp. 6,400 111 First Data Corp. 15,600 645 First Empire State Corp. 2,000 313 * First Federal Financial 4,200 62 First Federal Savings Bank/Puerto Rico 11,550 182 First Fidelity Bancorp. 11,178 518 First Financial Bancorp 1,173 45 * First Financial Management 8,200 455 First Financial Savings Assn. 5,600 83 First Hawaiian, Inc. 5,100 144 First Inter-Bancorp 2,747 65 First Interstate Bancorp. 11,294 870 * First Michigan Bank Corp. 3,765 86 First Midwest Bancorp 4,600 122 First Security Corp. 5,750 167 First Tennessee National Corp. 3,800 166 First Union Corp. 23,568 1,087 First Union Real Estate 16,200 103 * First USA Inc. 7,400 284 First Virginia Banks, Inc. 4,007 148 First Western Bancorp 5,215 153 Firstar Corp. 8,700 308 * Firstfed Michigan Corp. 4,050 93 Firstier Financial Inc. 4,300 203 * Fiserv, Inc. 6,700 138 Fleet Financial Group, Inc. 19,447 734 Fleet Mortgage Group 8,300 117 Fleetwood Enterprises, Inc. 12,158 233 Fleming Cos., Inc. 3,936 109 Flightsafety International, Inc. 4,900 184 Florida Progress Corp. 11,550 299 Flowers Industries, Inc. 6,100 111 Fluor Corp. 11,681 594 Food Lion Inc. Class A 54,700 335 Food Lion Inc. Class B 7,694 50 * Foodmaker, Inc. 23,700 133 Ford Motor Co. 69,037 4,073 * Foreland Corp. 2,700 6 Foremost Corp. of America 5,300 166 * Forest City Enterprise Class A 4,300 148 * Forest Laboratories, Inc. 6,092 265 Fort Wayne National Corp. 3,300 92 Foster Wheeler Corp. 5,479 199 * Foundation Health Co. 5,000 194 Fourth Financial Corp. 9,000 260 * Frame Technology 13,200 142 Franklin Electric, Inc. 3,400 93 Franklin Resources Corp. 12,000 446 Freeport McMoRan, Inc. 20,300 330 Freeport McMoRan Copper & Gold Inc. Class A 8,725 194 Fremont General Corp. 8,150 192 * Fresh Choice, Inc. 2,600 55 * Fritz Cos., Inc. 5,200 161 * Fruehauf Trailer Corp. 10,000 41 * Fruit of the Loom, Inc. 9,688 253 Fulton Financial Corp. 5,637 123 * Fund American Enterprise Holding Co. 3,285 232 GATX Corp. 3,000 122 * GC Cos. 1,991 51 GEICO Corp. 9,700 496 GFC Financial Corp. 3,900 130 GTE Corp. 131,479 4,142 Gainsco, Inc. 7,816 69 Arthur J. Gallagher & Co. 4,100 127 Galveston-Houston Co. 13,200 20 Gannett Co., Inc. 20,182 999 The Gap, Inc. 19,574 837 * Gardner Denver Machinery, Inc. 15,712 141 * Gateway 2000 Inc. 18,700 209 * Gaylord Entertainment Class A 12,700 311 * Genentech Inc. 15,883 782 General Binding Corp. 4,800 86 General Dynamics Corp. 9,058 370 General Electric Co. 237,288 11,064 * General Instrument 8,500 485 General Mills, Inc. 22,395 1,223 General Motors Corp. 99,423 4,996 General Motors Corp. Class E 32,700 1,140 General Motors Corp. Class H 13,000 466 * General Nutrition Cos., Inc. 12,400 217 General Public Utilities Corp. 17,600 462 General Re Corp. 11,839 1,290 General Signal Corp. 6,314 208 * Genetics Institute Inc. Depository Shares 3,100 128 * Gensia Inc. 6,100 57 * Gentex Corp. 5,400 138 Genuine Parts Co. 16,901 611 * Genzyme Corp. 4,089 106 * Georgia Gulf Corp. 8,802 301 Georgia-Pacific Corp. 12,098 724 Gerber Products Co. 9,132 466
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Market Value Shares (000)+ - - --------------------------------------------------------------- Giant Food, Inc. Class A 7,068 $ 139 Gibson Greetings, Inc. 10,000 161 Giddings & Lewis, Inc. 9,400 143 * Gilead Sciences, Inc. 14,800 124 Gillette Co. 30,892 2,012 P.H. Glatfelter Co. 7,500 120 * Global Natural Resources, Inc. 21,600 157 * Go Video, Inc. 37,500 52 Golden West Financial Corp. 8,276 320 The BF Goodrich Co. 3,800 165 The Goodyear Tire & Rubber Co. 20,772 748 * Goody's Family Clothing 6,450 116 Gorman-Rupp Co. 2,550 65 Goulds Pumps, Inc. 3,709 79 W.R. Grace & Co. 12,576 501 * Graco, Inc. 3,600 68 W.W. Grainger, Inc. 7,236 462 Granite Construction Co. 6,600 132 Great Atlantic & Pacific Tea Co., Inc. 4,801 103 Great Lakes Chemical Corp. 10,407 563 Great Western Financial Corp. 17,653 324 Green Mountain Power Corp. 2,400 59 Green Tree Financial Corp. 4,700 263 * Greyhound Lines, Inc. 3,500 23 * Groundwater Technology, Inc. 13,000 172 Grow Group, Inc. 5,700 98 * Gtech Holdings Corp. 6,200 105 Guaranty National Corp. 11,500 171 Guilford Mills, Inc. 8,300 170 * Gupta Corp. 8,200 78 HBO and Co. 6,600 167 Halliburton Co. 15,542 525 * Hamburger Hamlet Restaurants 24,000 144 Hancock Fabrics, Inc. 8,600 68 Handleman Co. 18,061 183 Hannaford Brothers Co. 6,200 139 * Harcourt General, Inc. 10,915 383 John H. Harland Co. 4,987 108 * Harley-Davidson, Inc. 5,406 247 * Harper Group, Inc. 5,600 80 Harris Corp. 5,708 252 Harsco Corp. 5,584 229 Hartford Steam Boiler Inspection & Insurance Co. 3,757 168 Hasbro, Inc. 12,477 370 Haverfield Corp. 5,700 103 Hawaiian Electric Industries Inc. 4,065 126 * Health and Rehabilitation Properties Trust 9,800 141 Health Care Properties Investors 7,300 224 Health Care REIT, Inc. 3,800 91 * Health Management Systems, Inc. 6,400 142 * Health Professionals, Inc. 6,700 5 * Health Systems 11,800 296 * Healthcare Compare Corp. 12,200 217 Healthcare & Retirement Corp. 6,400 158 * Healthdyne, Inc. 9,600 56 * HEALTHSOUTH Rehabilitation Corp. 9,174 240 * Healthtrust Inc. 12,500 347 Healthwise of America Inc. 8,940 183 * Heartland Express, Inc. 5,241 157 Hechinger Co. Class A 9,800 136 Hechinger Co. Class B 5,118 72 * Hecla Mining Co. 20,400 217 Heilig-Meyers Co. 7,100 193 H.J. Heinz Co. 35,331 1,126 Helmerich & Payne, Inc. 7,893 209 Herbalife International of America, Inc. 8,100 177 Hercules, Inc. 5,662 606 Hershey Foods Corp. 12,410 538 Hewlett-Packard Co. 35,032 2,641 Hibernia Corp. Class A 13,822 119 Hillenbrand Industries, Inc. 9,300 255 Hilton Hotels Corp. 6,788 360 * Hogan Systems, Inc. 14,400 98 Holly Corp. 3,500 100 * Hollywood Park, Inc. 9,700 224 Home Depot, Inc. 62,060 2,614 * Home Shopping Network, Inc. 13,500 159 Homestake Mining Co. 17,881 335 Honeywell, Inc. 18,998 589 Horace Mann Educators Corp. 9,500 259 Horizon Bank 10,200 144 George A. Hormel & Co. 10,700 223 * Horsehead Resource Development Co., Inc. 18,400 58 * Hospitality Franchise Systems, Inc. 9,800 240 Host Marriott 21,624 211 Household International, Inc. 13,508 459 Houston Industries, Inc. 17,384 567 * Hovnanian Enterprises Class A 12,300 117 Hubbell Inc. Class A 700 37 Hubbell Inc. Class B 3,500 194 Hudson Foods Inc. Class A 8,800 156 * Humana, Inc. 22,946 370 * Hungarian Teleconstruct Corp. 12,000 122 Hunt Manufacturing Co. 8,000 130 J.B. Hunt Transport Services, Inc. 9,100 166 Huntington Bancshares Inc. 14,650 370 IBP, Inc. 7,200 192 * ICN Biomedicals Inc. 11,400 35 * IDB Communications Group, Inc. 8,500 79 * IEC Electronics Corp. 12,300 143
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Market Value Shares (000)+ - - --------------------------------------------------------------- * IMC Fertilizer Group, Inc. 8,303 $ 287 IRT Property Co. 16,600 164 * I-STAT Corp. 7,500 101 ITT Corp. 16,300 1,330 Idaho Power Co. 3,900 89 * IDEX Corp. 4,400 174 * IDEXX Corp. 3,600 108 Illinois Central Corp. 6,100 202 Illinois Tool Works, Inc. 16,064 627 Illinova Corp. 10,200 191 * Image Business Systems Corp. 23,400 15 * Immucore Inc. 21,800 114 * Immulogic Pharmaceutical Corp. 8,100 60 * Immune Response 5,717 57 * Immunomedics Inc. 9,900 33 * Indressco Inc. 16,091 191 * Infinity Broadcasting Corp. 10,875 262 * Information Resources, Inc. 4,035 60 * Informix Corp. 11,000 171 Ingersoll-Rand Co. 14,525 510 * Inland Steel Industries, Inc. 4,800 167 * Innovative Gaming Corp. 10,050 70 * Insituform Technologies Class A 13,600 183 * Insurance Auto Auctions, Inc. 3,000 99 Integon Corp. 8,020 142 Integra Financial Corp. 4,700 220 * Integrated Device Technology Inc. 9,800 242 Intel Corp. 58,478 3,428 Intelligent Electronics Inc. 7,114 108 Intercontinental Bank 8,200 180 Interface, Inc. 8,700 99 * Intergraph Corp. 18,773 180 International Business Machines Corp. 80,806 4,747 * International Dairy Queen, Inc. Class A 7,888 132 * International Dairy Queen, Inc. Class B 2,300 41 * International Family Entertainment 12,500 206 International Flavors & Fragrances, Inc. 15,611 611 International Game Technology 16,802 317 * International Jensen 7,000 68 International Multifoods Corp. 9,781 155 International Paper Co. 16,857 1,117 * International Specialty Products, Inc. 16,100 111 * International Technology 53,400 147 * International Totalizer Systems, Inc. 13,200 59 * Interneuron Pharmaceutical, Inc. 21,700 126 Interpublic Group of Cos., Inc. 11,200 347 Interstate Bakeries 14,600 183 Iowa National Bankshares 3,600 88 Ipalco Enterprises, Inc. 4,500 130 * Irwin Financial Corp. 6,200 140 * ISCO, Inc. 4,485 45 * IVAX Corp. 11,100 182 JMC Group Inc. 5,200 16 JSB Financial 3,101 76 * Jacobs Engineering Group Inc. 4,300 88 James River Corp. 12,041 205 Jefferson-Pilot Corp. 6,943 338 Johnson & Johnson 90,370 3,875 Johnson Controls, Inc. 5,612 271 * Jones Apparel Group, Inc. 6,600 186 Joslyn Manufacturing Co., Inc. 2,600 66 Jostens Inc. 14,040 226 * Joy Technologies, Inc. 9,800 96 Juno Lighting, Inc. 5,300 102 Justin Industries, Inc. 5,700 69 Kmart Corp. 56,353 873 K U Energy Corp. 4,500 113 Kaiser Aluminum & Chemical Corp. 22,500 217 * Kaneb Services, Inc. 57,600 173 Kansas City Life Insurance Co. 1,400 62 Kansas City Power & Light Co. 8,900 172 Kansas City Southern Industries, Inc. 5,962 243 Kaufman & Broad Home Corp. 5,526 74 Kaydon Corp. 4,000 85 Kellogg Co. 31,665 1,722 Kelly Services, Inc. Class A 9,675 264 Kemper Corp. 5,000 303 * Kendall International Inc. 5,100 260 Kerr-McGee Corp. 6,779 319 * Kevlin Corp. 2,200 4 Keycorp 33,359 1,063 Keystone International Fund, Inc. 9,400 183 Kimball International, Inc. Class B 4,100 94 Kimberly-Clark Corp. 22,573 1,194 Kimco Realty Corp. 4,700 169 Kinetic Concepts, Inc. 15,300 55 * King World Productions, Inc. 5,500 219 Knight-Ridder, Inc. 7,935 406 * Kohls Corp. 4,800 226 * Komag, Inc. 9,900 182 * The Kroger Co. 13,817 321 LDDS Communications, Inc. 15,156 263 LG&E Energy Corp. 4,950 181 * LSI Industries Inc. 11,200 114 * LSI Logic Corp. 8,000 200 LTC Properties, Inc. 9,900 132 * LTV Corp. 13,400 206
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Market Value Shares (000)+ - - --------------------------------------------------------------- La Quinta Inns Inc. 7,650 $ 200 Lafarge Corp. 13,700 265 * Lake Shore Bancorp Inc. 2,875 85 * LAM Research Corp. 9,750 274 Lancaster Colony Corp. 4,800 229 Lance, Inc. 5,721 97 * Lancer Corp. 6,300 124 * Lands' End, Inc. 7,400 129 * Lattice Semiconductor Corp. 9,250 173 Lawter International Inc. 16,534 194 Lee Enterprises, Inc. 7,000 224 * Legent Corp. 4,289 115 Leggett & Platt, Inc. 5,900 221 * Lehman Brothers Holdings, Inc. 23,889 361 Lennar Corp. 6,300 119 * Leslie Fay Co. 15,200 38 * Leucadia National Corp. 7,200 259 Liberty Bankcorp Inc. 2,100 65 * Liberty Media Corp. Class A 18,600 370 Liberty National Bancorp Inc. 4,250 131 Life Partners Group, Inc. 9,300 163 Life Re Corp. 4,700 94 * Lifecore Biomedical Inc. 7,300 42 Eli Lilly & Co. 40,540 2,306 Lilly Industries Inc. Class A 7,368 104 The Limited, Inc. 51,051 881 * Lin Broadcasting Corp. 7,132 856 * Lincare Holdings Inc. 8,200 161 Lincoln National Corp. 12,852 545 * Lindsay Manufacturing Co. 2,900 85 Linear Technology Corp. 6,498 285 * Liposome Co., Inc. 10,000 57 * Liposome Technology, Inc. 10,100 59 * Litton Industries, Inc. 5,869 197 Liz Claiborne, Inc. 10,974 219 Lockheed Corp. 8,529 558 Loctite Corp. 4,800 203 Loews Corp. 9,000 767 * Lone Star Casino Corp. 49,900 112 * Lone Star Steakhouse & Saloon 5,500 97 Long Island Lighting Co. 15,035 267 Longview Fiber Co. 14,030 246 Loral Corp. 12,992 455 * Lotus Development Corp. 5,737 210 Louisiana Land & Exploration Co. 4,699 200 Louisiana-Pacific Corp. 14,900 454 Lowes Cos., Inc. 19,814 679 Lubrizol Corp. 10,300 353 * L. Luria & Son, Inc. 5,100 41 * Lynx Therapeutic Pfd. 1,344 1 Lyondell Petrochemical Co. 10,846 267 * M/A-Com, Inc. 10,787 86 MBIA, Inc. 5,600 321 * MBNA Corp. 20,763 467 * MCI Communications Corp. 75,390 1,673 * MFS Communications Co., Inc. 8,600 211 * MGIC Investment Corp. 8,002 212 * MGM Grand Inc. 6,800 159 * MacFrugal's Bargains Close-Outs, Inc. 5,700 99 MacMillan Bloedel Ltd. 5,200 65 Madison Gas & Electric Co. 2,600 86 * Magma Power Co. 3,600 104 Mallinckrodt Group, Inc. 9,996 325 Manor Care Inc. 8,551 215 * Manpower Inc. 13,800 290 Manufactured Home Communities, Inc. 10,400 216 * Manville Corp. 32,300 226 Mapco Inc. 4,200 248 * Marcam Corp. 4,900 56 Marion Capital Holdings 1,500 25 Marion Merrell Dow, Inc. 38,300 699 Mark IV Industries, Inc. 8,055 160 Marriott International 17,724 472 Marsh & McLennan, Inc. 10,517 877 Marshall & Ilsley Corp. 17,151 345 * Marshall Industries 3,628 80 Martin Marietta Corp. 13,008 574 * Marvel Entertainment Group 11,934 218 Masco Corp. 21,512 592 Mascotech Inc. 15,800 209 Masland Corp. 10,400 182 * Material Sciences Corp. 3,900 87 Mattel, Inc. 25,505 647 * Maxus Energy Corp. 19,400 97 * Maxicare Health Plans Inc. 6,900 88 * Maxxam Inc. 2,600 89 May Department Stores Co. 34,500 1,354 Maytag Corp. 14,236 263 * McCaw Cellular Communications, Inc. 28,800 1,489 McClatchy Newspapers, Inc. 5,300 127 McCormick & Co., Inc. 10,517 213 McDermott International, Inc. 7,902 198 McDonald's Corp. 97,820 2,825 McDonnell Douglas Corp. 5,643 660 McGraw-Hill, Inc. 6,903 459 McKesson Corp. 5,303 382 * McMoRan Oil and Gas 1,800 8 * McWorter 3,300 51 The Mead Corp. 8,359 369 * Medar, Inc. 5,800 68 Media General, Inc. Class A 5,000 133
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Market Value Shares (000)+ - - --------------------------------------------------------------- * Medical Care America 6,869 $ 186 * Medimmune Inc. 8,600 74 Medtronic, Inc. 8,116 650 * Megafoods Stores, Inc. 5,100 20 * Megahertz Corp. 10,800 74 Mellon Bank Corp. 8,893 500 Melville Corp. 14,270 553 * Men's Wearhouse, Inc. 6,800 151 Mercantile Bancorp, Inc. 7,119 250 * Mercantile Bankshares Corp. 11,600 230 Mercantile Stores Co., Inc. 4,390 141 Merck & Co., Inc. 179,085 5,328 Mercury Finance Co. 15,266 252 Meridian Bancorp, Inc. 8,096 245 * Meridian Diagnostics, Inc. 5,618 45 * Merrill Lynch & Co., Inc. 29,248 1,024 * Mesa Airlines, Inc. 13,600 136 * Fred Meyer, Inc. 1,000 36 Michael Foods, Inc. 13,300 145 Michigan National Corp. 4,300 311 * Micro Warehouse Inc. 9,400 196 Micron Technology Inc. 14,200 490 * Microsoft Corp. 79,794 4,114 * Mid Am Inc. 4,470 65 * Mid-American Waste Systems, Inc. 7,400 42 * Mid Atlantic Medical Services 6,900 307 Mid Atlantic Realty Trust 15,400 141 Middlesex Water Co. 3,800 65 * Midlantic Corp. 7,500 218 Midwest Resources Inc. 15,700 228 Herman Miller, Inc. 6,529 170 Millipore Corp. 5,519 291 * Milwaukee Land Co. 7,700 52 Minerals Technologies, Inc. 4,300 125 Minnesota Mining & Manufacturing Co. 60,206 2,980 Minnesota Power & Light Co. 4,100 106 * Mirage Resorts Inc. 12,350 232 Mitchell Energy & Development Corp. Class A 6,200 126 * Mitek Surgical Products, Inc. 11,700 203 Mobil Corp. 55,694 4,546 * Molecular Biosystems, Inc. 8,200 90 Molex, Inc. 8,250 311 The Money Store 6,150 105 Monsanto Co. 16,287 1,232 Montana Power Co. 7,300 163 J.P. Morgan & Co., Inc. 26,871 1,663 * Morgan Products Ltd. 7,300 37 Morgan Stanley Group, Inc. 10,016 570 * Morrison Restaurants 6,375 145 Morton International, Inc. 6,981 545 Mosinee Paper Corp. 3,200 101 Motorola, Inc. 77,864 3,465 * Multicare Cos., Inc. 8,900 151 * Multimedia, Inc. 10,547 305 Murphy Oil Corp. 6,200 265 * Musicland Stores Corp. 9,000 144 * Mycogen Corp. 5,300 59 Mylan Laboratories, Inc. 11,400 242 NAC Re Corp. 3,200 94 NBD Bancorp, Inc. 21,707 686 NCH Corp. 1,700 105 * NS Group Inc. 24,600 172 N.S. Bancorp Inc. 2,100 62 NYMAGIC, Inc. 3,000 61 * Nabors Industries, Inc. 12,100 89 NACCO Industries, Inc. Class A 3,669 197 Nalco Chemical, Inc. 9,000 287 * Namic U.S.A. Corp. 22,500 180 Nash-Finch Co. 3,900 66 Nashua Corp. 2,300 59 National Bankcorp of Alaska Inc. 3,200 176 * National City Bancorporation 5,445 81 National City Corp. 21,600 591 National Fuel & Gas Co. 4,300 126 National Health Investors REIT 3,200 87 National Health Labs Holdings 10,500 127 * National Intergroup, Inc. 9,862 173 * National Medical Enterprises, Inc. 23,685 370 * National Pizza Corp. Class B 5,700 36 * National Presto Industries, Inc. 1,737 70 National Re Holdings Corp. 5,600 145 * National Rehab Centers 5,400 54 * National Semiconductor Corp. 17,118 295 National Service Industries, Inc. 6,891 179 NationsBank, Inc. 37,884 1,946 * Nationwide Cellular Service Inc. 7,100 86 Nationwide Health Properties, Inc. 4,300 168 * Navistar International Corp. 15,316 205 Neiman Marcus Group Inc. 12,096 192 * Nellcor Inc. 6,200 164 Thomas Nelson, Inc. 3,800 77 * Network General Corp. 6,656 105 * Neurogen Corp. 8,500 57 * Neutrogena Corp. 9,255 179 Nevada Power Co. 5,648 108 New England Electric System 8,400 274 New Jersey Resources Corp. 3,800 84 * New Mexico & Arizona Land Co. 18,400 168 New Plan Realty Trust 5,900 128 New York Bancorp Inc. 4,290 93 New York State Electric & Gas Corp. 9,400 223 New York Times Co. Class A 13,939 333
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Market Value Shares (000)+ - - --------------------------------------------------------------- Newell Co. 10,997 $ 509 Newmont Gold Co. 14,009 546 Newmont Mining Corp. 11,524 464 * News Communications, Inc. 500 2 * Nextel Communications 12,600 380 Niagara Mohawk Power Corp. 18,896 286 * Nichols Institute 4,000 48 * Nichols Institute Class C 29,200 343 NICOR, Inc. 7,956 210 Nike, Inc. Class B 10,225 611 Noble Affiliates, Inc. 6,100 185 * Noble Drilling Corp. 26,600 209 Noram Energy Corp. 14,354 86 * Norand Corp. 4,100 142 * Nord Resources Corp. 10,000 46 Nordson Corp. 3,300 181 Nordstrom, Inc. 11,475 489 Norfolk Southern Corp. 19,341 1,218 * Nortek, Inc. 9,300 87 * North American Mortgage 8,200 197 North American Vaccine, Inc. 11,100 92 North Fork Bancorporation, Inc. 8,400 111 Northeast Utilities 17,000 370 Northern Indiana Public Service Co. 9,130 269 Northern States Power Co. of Minnesota 8,673 357 Northern Trust Corp. 7,100 291 Northrop Grumman Corp. 6,970 259 Northstar Health Services, Inc. 21,850 164 Norwest Corp. 44,058 1,151 * NovaCare, Inc. 9,588 153 * Novell, Inc. 42,752 713 * Novellus Systems, Inc. 3,100 107 * Noxso Corp. 30,400 99 Nucor Corp. 12,302 843 * Nu-Kote Holding, Inc. Class A 8,200 139 NYNEX Corp. 57,800 2,189 * OEA, Inc. 3,500 97 * OHM Corp. 7,100 75 * O'Brien Environmental Energy Inc. Class A 12,900 9 Occidental Petroleum Corp. 42,155 796 * Oceaneering International, Inc. 10,200 143 * Octel Communications Corp. 4,200 70 * Office Depot, Inc. 19,425 389 Ogden Corp. 5,838 128 * Ogden Projects, Inc. 7,271 125 Ohio Casualty Corp. 6,444 181 Ohio Edison Co. 21,701 388 Oil-Dri Corp. of America 3,300 66 Oklahoma Gas & Electric Co. 4,800 146 Old Kent Financial Corp. 5,750 201 Old Republic International Corp. 7,600 169 Olin Corp. 3,300 178 Olsten Corp. 5,850 187 Omega Healthcare Investors, Inc. 4,300 107 Omega Financial Corp. 2,608 65 Omnicom Group Inc. 4,700 227 * Oncor Inc. 16,500 90 One Valley Bancorp of West Virginia Inc. 4,000 114 * Oneita Industries 6,430 59 Oneok, Inc. 10,209 175 * Oracle Systems Corp. 40,276 1,508 Oregon Steel Mills, Inc. 10,300 197 * Oryx Energy Co. 12,927 194 Outboard Marine Corp. 4,252 85 Overseas Shipholding Group Inc. 8,800 161 Owens & Minor Inc. Holding Co. 8,250 123 * Owens-Corning Fiberglas Corp. 6,052 188 * Owens-Illinois, Inc. 17,028 187 Oxford Industries, Inc. 3,800 122 PECO Energy Corp. 31,222 823 PHH Corp. 2,900 103 PNC Bank Corp. 32,902 950 PPG Industries, Inc. 29,238 1,096 PSI Resources, Inc. 8,130 172 * Paccar, Inc. 5,139 236 Pacific Enterprises 11,170 222 Pacific Gas & Electric Co. 61,051 1,450 Pacific Telecom, Inc. 6,100 131 Pacific Telesis Group 59,372 1,833 * Pacificare Health Systems Inc. Class A 4,000 198 Pacificorp 38,938 657 * Paging Network Inc. 12,000 329 PaineWebber Group, Inc. 11,100 173 Pall Corp. 14,754 221 Panhandle Eastern Corp. 15,644 309 * Parametric Technology Corp. 7,600 172 * Paramount Communications, Inc. 8,117 377 Parker Hannifin Corp. 6,579 280 Paychex, Inc. 7,450 219 Penn Virginia Corp. 1,000 32 Penncorp Financial Group Inc. 4,600 81 J.C. Penney Co., Inc. 32,706 1,774 Pennsylvania Power and Light Co. 21,102 414 Pennzoil Co. 5,972 306 Pentair, Inc. 3,300 119 Penwest Ltd. 4,091 92 Peoples Bank of Bridgeport 18,800 223 Peoples Energy Corp. 3,771 88 Pep Boys (Manny, Moe & Jack) 8,626 273 PepsiCo, Inc. 110,964 3,398
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Market Value Shares (000)+ - - --------------------------------------------------------------- Perkin-Elmer Corp. 6,487 $ 190 * Perrigo 21,200 289 Pet, Inc. 14,693 274 Petrie Stores Corp. 6,969 172 * Petro Union, Inc. 35,900 37 Petrolite Corp. 2,900 90 Pfizer, Inc. 43,712 2,759 * Pharmaceutical Markets 9,500 75 Phelps Dodge Corp. 9,658 551 Philip Morris Cos., Inc. 122,450 6,306 Phillips Petroleum Co. 35,835 1,120 Phillips-Van Heusen Corp. 4,100 103 Phoenix Resource Cos., Inc. 3,900 102 * Picturetel Inc. 10,000 126 Piedmont Natural Gas, Inc. 4,600 93 Pinnacle Bancorp Group Inc. 1,100 35 Pinnacle West Capital Corp. 12,300 201 Pioneer Group Inc. 5,000 181 Pioneer Hi Bred International 12,666 416 * Piper Jaffray Cos., Inc. 5,000 63 Pitney Bowes, Inc. 22,016 842 Pitt Des Moines, Inc. 2,100 57 * Pittencrieff Communication, Inc. 8,700 113 Pittsburgh & West Virginia Railroad 3,000 22 * Plains Resources 26,500 152 * Plaza Home Mortgage Corp. 17,800 132 Plenum Publishing Corp. 5,200 139 Ply-Gem Industries, Inc. 7,300 151 * Pogo Producing Co. 12,900 298 Polaroid Corp. 6,792 216 * Policy Management Systems Corp. 4,370 144 Portland General Electric Co. 15,200 258 Potlatch Corp. 3,428 132 Potomac Electric Power Co. 15,000 287 Praxair, Inc. 18,231 356 Precision Castparts Corp. 3,900 124 Premark International, Inc. 4,145 312 * Premier Anesthesia 6,400 11 Premier Industrial Corp. 11,382 216 Price/Costco Inc. 31,250 467 * T. Rowe Price 5,200 138 Price REIT, Inc. 2,300 80 * Prime Energy Corp. 2,200 6 * Primedex Health Systems Inc. 37,800 52 Procter & Gamble Co. 95,656 5,106 Progressive Corp. of Ohio 9,600 319 * Promus Co. Inc. 14,481 429 Property Trust of America 9,900 177 Protective Life Corp. 4,300 173 * Proteon Inc. 11,400 34 * Provident American Corp. 33,800 87 Provident Life & Accident Insurance Co. of America 6,700 171 * Providential Corp. 22,600 119 Providian Corp. 14,224 430 * Proxymed Pharmacy, Inc. 17,500 141 Public Service Co. of Colorado 8,400 219 * Public Service Co. of New Mexico 8,680 100 Public Service Enterprise Group Inc. 33,219 864 Public Storage Properties VI Series A 2,900 66 Puerto Rican Cement Co., Inc. 2,400 69 Puget Sound Power & Light Co. 8,785 165 Pulte Corp. 4,708 108 * Purepac Inc. 7,400 61 * Pyxis Corp. 4,400 84 * QVC Network, Inc. 5,000 191 * Qlogic 13,200 64 Quaker Chemical Corp. 4,100 74 Quaker Oats Co. 9,188 642 * Qualcomm, Inc. 8,600 140 Quality Food Centers Inc. 3,900 88 * Quantum Restaurant Group 14,400 121 Questar Corp. 5,885 191 * RJR Nabisco Holdings, Inc. 156,653 960 * Railtex, Inc. 6,500 141 * Ralcorp Holdings Inc. 14,857 236 Ralston-Continental Baking 22,934 112 Ralston-Purina Group 13,972 484 Raychem Corp. 6,104 220 * Raymond Corp. 8,925 171 * Raymond James Financial, Inc. 5,250 76 Rayonier Inc. 9,275 268 Raytheon Co. 18,932 1,226 Re Capital Corp. 4,200 54 * Read-Right Corp. 11,886 154 Reader's Digest Assn., Inc. Class A 15,000 623 Reader's Digest Assn., Inc. Class B 1,500 59 * Recovery Engineering, Inc. 9,700 121 Reebok International Ltd. 11,232 336 Regions Financial Corp. 5,510 191 * Regis Corp. 7,100 91 Reliable Life Insurance Co. Class A 1,400 82 Reliance Group Holdings 16,186 87 * ReLife Inc. Class A 6,100 90 Republic New York Corp. 7,600 351 Reynolds & Reynolds Class A 7,200 167 Reynolds Metals Co. 7,887 379 * Rhodes, Inc. 2,000 32 Rhone-Poulenc Rorer, Inc. 19,252 587 * Riggs National Corp. 8,900 79 Rite Aid Corp. 12,491 253 Riverwood International Corp. 7,900 131 Roadway Services, Inc. 5,717 359 Rochester Gas and Electric Corp. 13,152 286
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Market Value Shares (000)+ - - --------------------------------------------------------------- Rochester Telephone Corp. 9,656 $ 218 Rockwell International Corp. 30,472 1,139 * Rogers Corp. 4,100 136 Rohm & Haas Co. 9,368 583 * Rollins Environmental Services, Inc. 13,974 66 Rollins, Inc. 10,350 252 * Rose's Stores, Inc. 6,600 2 * Rowan Cos., Inc. 31,772 278 * Royal Appliance Manufacturing Co. 33,500 130 * Royal Grip, Inc. 11,600 96 Rubbermaid, Inc. 22,746 597 Russell Corp. 4,950 144 * Rust International, Inc. 10,300 157 Ryder System, Inc. 10,579 266 * S&K Famous Brands Inc. 6,200 63 SCE Corp. 61,110 787 SCOR U.S. Corp. 5,600 62 * SEI Corp. 5,600 102 SJW Corp. 600 22 * S-K-I, Ltd. 5,900 70 * SLM International, Inc. 8,100 89 * SOI Industries, Inc.. 21,400 49 * SPS Technologies, Inc. 2,500 64 * SPS Transaction Services 4,900 274 Safecard Services, Inc. 10,700 183 Safeco Corp. 8,740 486 * Safeguard Scientifics, Inc. 6,000 157 Safety-Kleen Corp. 9,409 160 * Safeway, Inc. 13,272 317 Sage Technologies, Inc. 6,400 91 * Saint Francis Capital Corp. 3,500 60 St. Joe Paper Co. 4,200 209 St. Jude Medical, Inc. 5,573 180 St. Mary Land & Exploration Co. 9,300 112 St. Paul Cos., Inc. 11,968 480 Salomon, Inc. 15,285 730 San Diego Gas & Electric Co. 15,200 281 Santa Anita Realty Enterprises 7,000 124 * Santa Fe Energy Resources Inc. 13,762 129 * Santa Fe Pacific Corp. 25,007 522 * Santa Monica Bank (California) 5,300 52 Sara Lee Corp. 66,746 1,418 * Satcon Technology Corp. 5,600 59 * Savannah Foods & Industries, Inc. 5,200 62 * Savoy Pictures Entertainment, Inc. 13,800 181 Sbarro, Inc. 2,606 97 Scana Corp. 6,100 262 * R. P. Scherer Corp. 6,674 220 Schering-Plough Corp. 27,145 1,663 Schlumberger Ltd. 33,747 1,995 * Scholastic Corp. 4,900 183 * Schuler Homes Inc. 8,300 146 A. Schulman Inc. 5,625 145 Charles Schwab Corp. 8,011 198 * Schwitzer, Inc. 8,300 61 * Sci-Med Life Systems, Inc. 2,400 63 Scientific-Atlanta, Inc. 5,796 199 * Scientific Games Holdings Corp. 4,600 159 * Scios Nova, Inc. 12,100 78 Scott Paper Co. 10,423 545 * Scotts Co. 9,900 162 E.W. Scripps Co. Class A 9,876 289 * Seacor Holdings, Inc. 6,600 140 * Seagate Technology 12,558 246 * Seagull Energy Corp. 11,300 292 Sealright Co. 5,300 83 Sears, Roebuck & Co. 48,617 2,334 * Sensormatic Electronics Corp. 8,738 251 * Sequa Corp. Class A 6,400 189 * Sequent Computer Systems, Inc. 6,200 85 Service Corp. International 10,836 279 * Service Merchandise Co., Inc. 10,550 67 * Shaw Industries, Inc. 18,800 310 Shawmut National Corp. 19,231 423 Sherwin-Williams Co. 13,289 419 * Shoney's Inc. 14,715 224 Shopko Stores, Inc. 7,145 71 Showboat, Inc. 3,784 63 * Shuffle Master, Inc. 11,500 95 * Sierra Home Service Cos., Inc. 32,800 152 * Sierra Semiconductor 20,106 167 Sigma Aldrich Corp. 6,500 262 * Signal Technology Corp. 6,800 36 Signet Banking Corp. 8,608 348 * Silicon Graphics, Inc. 18,700 414 Simmons First National 2,600 66 * Sirco International Corp. 46,300 145 Sizzler International 28,425 167 A.O. Smith Corp. 5,900 150 J.M. Smucker Co. Class B 2,500 53 Snap-On Inc. 5,932 221 * Snapple Beverage Corp. 17,100 351 * Sofamor/Danek Group Inc. 3,700 48 * Software Etc. Stores Inc. 19,800 136 * Software Publishing Corp. 11,000 47 * Software Spectrum 9,100 107 * Solectron Corp. 6,100 155 Sonat, Inc. 11,622 357 * Sonic Corp. 5,400 104 Sonoco Products 11,300 233 Sotheby's Holdings Class A 15,500 192 * Southdown, Inc. 8,400 176 Southern California Water Co. 3,400 64 Southern Co. 90,018 1,688
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Market Value Shares (000)+ - - --------------------------------------------------------------- Southern Indiana Gas & Electric 2,800 $ 77 Southern National Corp. 5,600 112 Southern New England Telecom Corp. 8,500 259 * Southern Pacific Rail Corp. 21,900 430 * Southland Corp. 54,600 340 Southtrust Corp. 10,600 217 Southwest Airlines Co. 19,961 521 Southwest Gas Corp. 4,500 81 Southwestern Bell Corp. 83,138 3,617 Southwestern Energy Co. 8,200 141 Southwestern Public Service Co. 6,000 149 * Spacelabs Medical 4,139 87 * Spaghetti Warehouse, Inc. 4,400 33 * Specialty Chemical Resources, Inc. 29,400 118 * Spectran Corp. 5,100 24 * Spectranetics 9,300 10 * Spectrum Holobyte 8,600 67 Spelling Entertainment 18,800 160 * Spiegel, Inc. Class A 13,900 268 * Sports & Recreation 3,900 145 Springs Industries Inc. Class A 3,239 97 Sprint Corp. 47,684 1,663 Standard Federal Bank 5,000 125 * Standard Microsystem 4,800 68 Standard Motor Products, Inc. 4,300 76 Standard Products Co. 4,900 143 The Stanley Works 6,252 252 * Staples, Inc. 10,075 273 Star Banc Corp. 6,500 246 L. S. Starrett Co. Class A 3,300 71 * Starter Corp. 13,200 135 State Auto Financial Corp. 5,800 80 State Street Boston Corp. 10,100 391 * Stein Mart, Inc. 6,550 112 * Stephan Co. 4,250 65 * Sterling Chemicals, Inc. 18,100 170 * Sterling Software, Inc. 7,800 234 Stewart & Stevenson Services, Inc. 4,618 192 * Stone Container Corp. 14,612 214 * Stop & Shop Cos. Inc. 10,400 250 Storage Equities, Inc. 7,000 109 * Storage Technology Corp. 5,055 165 * Stratus Computer, Inc. 7,700 218 Stride Rite Corp. 18,084 235 * Stryker Corp. 6,200 165 Student Loan Marketing Assn. 12,400 446 Styles On Video, Inc. 12,300 121 * Sullivan Dental Products, Inc. 3,500 52 Sumitomo Bank of California 6,700 155 * Summit Technology, Inc. 3,500 95 Sun Co., Inc. 14,659 394 * Sun Microsystems, Inc. 12,059 247 Sunamerica Inc. 6,200 253 Sunbeam Oster 10,800 216 Sundstrand Corp. 4,100 193 * Sungard Data Systems 3,300 120 * Sunrise Medical, Inc. 4,300 94 Suntrust Banks, Inc. 17,024 824 * Supercuts, Inc. 4,985 53 Superior Industries International, Inc. 6,150 197 SuperValu, Inc. 10,296 311 * Surgical Care Affiliates, Inc. 6,600 87 Susquehanna Bankshares Pa. 8,300 199 * Swing-n-Slide Corp. 4,900 48 * Sybase, Inc. 6,600 323 * Symantec Corp. 6,100 65 Symmetricom Inc. 13,200 107 * Syms Corp. 6,300 51 Synalloy Corp. 3,400 59 * Synergen, Inc. 8,300 66 * SynOptics Communications, Inc. 9,200 125 Synovus Financial Corp. 13,100 234 Syntex Corp. 30,320 697 Sysco Corp. 25,966 587 * System Software Assoc., Inc. 6,600 89 * Systemed Inc. 25,300 150 * Systemix, Inc. 6,620 117 * TBC Corp. 7,450 87 TCA Cable Television, Inc. 9,300 209 TCF Financial Corp. 5,900 200 TECO Energy, Inc. 15,100 289 TIG Holdings, Inc. 9,400 188 TJX Cos., Inc. 9,484 207 TNP Enterprises, Inc. 3,900 59 * TRO Learning, Inc. 6,200 38 TRW, Inc. 9,131 589 * T Squared Medical 11,600 120 Talbots, Inc. 4,600 138 Tambrands, Inc. 5,223 192 * Tandem Computers, Inc. 16,844 189 Tandy Corp. 8,300 286 Tanger Factory Outlet Centers, Inc. 5,600 162 Taubman Co. 19,900 229 * Tech Data Corp. 1,600 27 * Tech-Sym Corp. 7,900 162 * Tejas Gas Corp. 4,400 211 Tektronix, Inc. 9,833 278 * Tele-Communications, Inc. Class A 58,592 1,201 * Tele-Communications, Inc. Class B 4,200 98 * Teledyne Inc. 6,236 100 Telephone & Data Systems, Inc. 6,700 248 Temple-Inland Inc. 7,211 343 Tenneco, Inc. 23,563 1,093 * Teradyne, Inc. 6,000 159
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Market Value Shares (000)+ - - --------------------------------------------------------------- Texaco, Inc. 35,728 $ 2,157 Texas Instruments, Inc. 12,663 1,007 Texas Utilities Co. 31,408 985 Textron, Inc. 12,476 653 * Theragenics Corp. 8,900 33 * Thermedics, Inc. 8,850 129 * Thermo Electron Corp. 6,550 244 * Thermo Fibertek, Inc. 11,600 167 * Thermo Instrument Systems, Inc. 5,550 157 Thomas & Betts Corp. 2,847 175 Thor Industries, Inc. 3,900 78 Thornburg Mortgage Asset Corp. 7,900 111 * 3 Com Corp. 5,500 283 Tidewater, Inc. 10,000 233 Tiffany & Co. 7,184 249 * Timberline Software Corp. 23,800 161 Time Warner, Inc. 52,907 1,858 The Times Mirror Co. Class A 17,511 528 The Timkin Co. 8,546 280 Titan Wheel International, Inc. 4,200 101 * Toastmaster, Inc. 8,300 51 * Today's Man Inc. 10,000 83 * Todd Shipyards Corp. 12,300 52 * Todhunter International, Inc. 9,600 137 * Tokos Medical 16,500 68 * Toll Brothers, Inc. 7,600 97 Tootsie Roll Industries, Inc. 1,788 106 The Topps Co., Inc. 15,197 108 Torch Energy Royalty Trust 6,000 120 Torchmark Corp. 10,285 401 Tosco Corp. 4,834 144 Total-Tel USA Communications, Inc. 1,320 24 Total System Services, Inc. 6,400 130 Town & Country Trust 9,300 170 * Toys R Us, Inc. 40,874 1,339 * Trak Auto Corp. 12,800 197 Transamerica Corp. 10,304 537 Transatlantic Holdings 3,300 172 Transco Energy Co. 7,441 121 Transworld Home Healthcare, Inc. 36,700 252 Travelers Inc. 44,206 1,426 Trenwick Group Inc. 1,900 76 The Tribune Co. 9,199 490 * Triconex, Inc. 4,700 61 Trimas Corp. 6,000 138 * Trimble Navigation Ltd. 8,600 82 Trinity Industries, Inc. 5,850 205 * Triton Energy Corp. 10,300 341 The Trust Co. of N.J. 4,800 59 * Tucson Electric Power Co. 65,100 195 Turner Broadcasting Class A 2,400 41 Turner Broadcasting Class B 23,200 403 20th Century Industries 6,100 103 Tyco International Ltd. 6,370 291 * Tyco Toys, Inc. 6,800 48 * Tyler Corp. 12,000 59 Tyson Foods, Inc. 20,646 484 * UAL Corp. 3,191 403 UMB Financial Corp. 3,161 106 * UNR Industries, Inc. 31,200 170 UNUM Corp. 10,835 485 * URS Corp. 22,300 117 USF&G Corp. 9,963 122 * USG Corp. 5,900 107 UST, Inc. 29,016 787 USX-Marathon Group 39,982 670 USX-U.S. Steel Group 10,201 346 Unifi, Inc. 9,150 214 * Unifirst Corp. 5,000 71 * Unigene 8,300 25 * Unilab Corp. 11,300 66 Union Bank of San Francisco 5,700 169 Union Camp Corp. 9,845 447 Union Carbide Corp. 20,385 545 Union Electric Corp. 13,803 438 Union Pacific Corp. 28,463 1,612 Union Planters Corp. 7,300 195 Union Texas Petroleum Holdings 14,600 261 * Unisys Corp. 21,280 197 * United Capital Corp. 12,100 144 * United Healthcare Corp. 20,900 959 United Illuminating Co. 2,500 82 United Jersey Bank Financial Corp. 7,400 204 United Mobile Homes, Inc. 17,100 135 * USAir Group, Inc. 15,563 99 U.S. Bancorp 14,131 367 * U.S. Bioscience 23,274 157 U.S. Healthcare, Inc. 22,785 846 * U.S. Robotics, Inc. 5,300 143 U.S. Shoe Corp. 15,935 303 U.S. West Corp. 61,586 2,579 * United States Cellular 8,100 201 United States Surgical Corp. 6,462 144 United Technologies Corp. 17,239 1,108 * United Television, Inc. 4,200 203 * United Waste Systems, Inc. 9,000 167 United Wisconsin 5,200 146 Unitrin Inc. 6,900 275 Universal Corp. 10,300 201 * Universal Electronics, Inc. 18,400 133 Universal Foods Corp. 4,413 140 * Universal Health Services Class B 4,900 128 Unocal Corp. 33,944 972 Upjohn Co. 24,000 699 Urban Shopping Centers 7,800 178 USLIFE Corp. 3,674 130
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Market Value Shares (000)+ - - --------------------------------------------------------------- Utilicorp United, Inc. 6,100 $ 175 VF Corp. 9,007 428 * VLSI Technology, Inc. 16,100 221 * Vaalco Energy, Inc. 46,500 128 * Valassis Communication 8,800 142 Valero Energy Corp. 14,300 250 * Valhi, Inc. 21,200 109 Valspar Corp. 3,600 131 * Value City Department Stores, Inc. 6,400 86 * Value Health, Inc. 6,372 244 * Vanguard Cellular Systems, Inc. Class A 7,342 241 Varian Associates, Inc. 5,800 206 * Varity Corp. 7,500 273 * Vencor, Inc. 5,800 200 Venture Stores, Inc. 5,100 101 * Verifone, Inc. 9,200 143 * Vestar, Inc. 21,900 131 * Viacom International Class A 2,000 68 * Viacom International Class B 14,400 455 * Vicorp Restaurants, Inc. 3,600 52 * Viewlogic Systems, Inc. 8,600 134 * Viking Office Products 6,600 166 Vintage Petroleum, Inc. 4,600 97 * Viratek, Inc. 7,455 63 * Visix Space Inc. 9,200 153 * Vons Cos., Inc. 13,600 231 Vornado Realty Trust 7,200 263 Vulcan Materials Co. 5,100 234 Wicor, Inc. 3,300 98 * WMS Industries, Inc. 4,100 78 WMX Technologies Inc. 67,745 1,795 WPL Holdings, Inc. 4,200 114 * WRT Energy Corp. 15,800 134 * Waban, Inc. 11,200 186 Wabash National Corp. 4,700 210 Wachovia Corp. 23,500 778 Wackenhut Corp. 4,600 67 Wackenhut Corp. Class B 1,400 14 * Wahlco Environmental 38,500 91 Wal-Mart Stores, Inc. 319,898 7,758 Walbro Corp. 6,300 143 Walgreen Co. 17,368 634 Warnaco Group 5,800 170 Warner-Lambert Co. 18,888 1,247 Washington Energy Co. 4,900 72 Washington Federal Savings & Loan Assn. 5,780 126 Washington Gas Light Corp. 3,399 128 Seattle (WA) Mutual Savings Bank 8,800 183 Washington National Corp. 3,600 77 Washington Post Co. Class B 1,600 370 Washington Water Power Co. 8,000 115 Watts Industries Class A 6,000 141 * Weatherford International, Inc. 19,800 267 Weis Markets, Inc. 5,100 129 * Wellcare Management Group, Inc. 7,300 116 * Wellfleet Communications 8,600 214 Wellman, Inc. 12,545 350 * Wellpoint Health Networks, Inc. Class A 14,100 416 Wells Fargo & Co. 7,703 1,158 Wellsford Residential Property Trust 5,300 121 Wendys International, Inc. 13,764 215 Werner Enterprises, Inc. 4,800 135 Wesco Financial Corp. 1,142 132 West One Bancorp 6,388 183 Westbanco Inc. 1,800 50 Westcorp, Inc. 12,495 130 * Western Atlas Inc. 6,269 299 Western Bank 9,758 156 Western Resources, Inc. 8,800 237 * Westinghouse Electric Corp. 48,714 566 * Westport Bancorp, Inc. 2,200 6 Westvaco Corp. 8,652 266 Weyerhaeuser Co. 28,389 1,136 * Wheelabrator Technologies 28,362 528 Whirlpool Corp. 10,247 538 * White River 5,642 185 Whitman Corp. 15,138 235 Willamette Industries, Inc. 7,900 340 Williams Cos., Inc. 14,712 421 * Williams Sonoma, Inc. 7,200 219 Wilmington Trust Corp. 11,200 300 Winn Dixie Stores, Inc. 10,172 437 * Winners Entertainment, Inc. 31,300 119 * Wisconsin Central Transportation Corp. 3,300 213 Wisconsin Energy Corp. 15,238 364 * Witco Chemical Corp. 7,500 223 Wolohan Lumber Co. 10,000 140 * Wonderware Corp. 10,100 136 Woolworth Corp. 17,066 271 * World Acceptance Corp. 7,500 133 * World Corp. 11,800 47 * Worthington Industries, Inc. 11,502 214 Wm. Wrigley, Jr. Co. 15,924 756 * Wyman Gordon Corp. 30,300 184 X-Rite Inc. 3,800 92 Xerox Corp. 14,328 1,401 * Xilinx, Inc. 4,400 151 * Xyplex, Inc. 2,900 38 Yellow Corp. 5,147 89 York International Corp. 5,600 206 * Zebra Technologies Class A 500 16 Zenith National Insurance Corp. 3,500 81
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Market Value Shares (000)+ - - --------------------------------------------------------------- * Zeos International 13,600 $ 34 * Zoll Medical Corp. 6,300 78 - - --------------------------------------------------------------- TOTAL COMMON STOCKS (98.7%)(1) (Cost $619,642) 630,729 - - --------------------------------------------------------------- TEMPORARY CASH INVESTMENTS (1.7%) - - ---------------------------------------------------------------
Face Amount (000) ----------- U.S. TREASURY BILL--Note D 4.26%, 9/22/94 $ 600 594 REPURCHASE AGREEMENT Collateralized by U.S. Government Obligations in a Pooled Cash Account 4.26%, 7/1/94 10,391 10,391 - - --------------------------------------------------------------- TOTAL TEMPORARY CASH INVESTMENTS (Cost $10,985) 10,985 - - --------------------------------------------------------------- TOTAL INVESTMENTS (100.4%) (Cost $630,627) 641,714 - - --------------------------------------------------------------- OTHER ASSETS AND LIABILITIES (-.4%) - - --------------------------------------------------------------- Other Assets--Notes B and E 9,096 Liabilities--Note E (11,556) --------- (2,460) - - --------------------------------------------------------------- NET ASSETS (100%) - - --------------------------------------------------------------- Applicable to 57,878,194 outstanding shares of beneficial interest (unlimited authorization) $639,254 - - --------------------------------------------------------------- NET ASSET VALUE PER SHARE $11.04 ===============================================================
+ See Note A to Financial Statements. (1) The combined market value of common stocks, Standard & Poor's 500 Index futures contracts, and Standard & Poor's Midcap 400 futures contracts represents 100.0% of net assets. * Non-Income Producing Security.
- - --------------------------------------------------------------- AT JUNE 30, 1994, NET ASSETS CONSISTED OF: - - --------------------------------------------------------------- Amount Per (000) Share ---------- --------- Paid in Capital $626,401 $10.82 Undistributed Net Investment Income 644 .01 Accumulated Net Realized Gains 1,440 .02 Unrealized Appreciation of Investments--Note D 10,769 .19 - - --------------------------------------------------------------- NET ASSETS $639,254 $11.04 - - ---------------------------------------------------------------
Market Value GROWTH PORTFOLIO Shares (000)+ - - --------------------------------------------------------------- COMMON STOCKS - - --------------------------------------------------------------- General Electric Co. 60,514 $2,821 AT&T Corp. 48,048 2,613 Wal-Mart Stores, Inc. 81,298 1,971 The Coca-Cola Co. 45,686 1,856 Philip Morris Cos., Inc. 31,038 1,598 E.I. du Pont de Nemours & Co. 23,700 1,384 Merck & Co., Inc. 44,376 1,320 Procter & Gamble Co. 24,228 1,293 * Microsoft Corp. 20,300 1,045 Johnson & Johnson 22,779 977 Bristol-Myers Squibb Co. 18,008 966 American International Group, Inc. 11,100 962 Motorola, Inc. 19,784 880 Intel Corp. 14,854 869 PepsiCo, Inc. 28,366 869 Abbott Laboratories, Inc. 29,184 846 Federal National Mortgage Assn. 9,663 807 The Walt Disney Co. 19,027 792 Minnesota Mining & Manufacturing Co. 14,996 742 McDonald's Corp. 24,930 720 Pfizer, Inc. 11,375 718 Home Depot, Inc. 15,957 672 American Home Products Corp. 10,918 620 Eli Lilly & Co. 10,445 594 Eastman Kodak Co. 11,800 568 Unilever NV 5,620 566 Gillette Co. 7,784 507 Schlumberger Ltd. 8,556 506 Anheuser-Busch Co., Inc. 9,326 473 Time Warner, Inc. 13,200 464 Emerson Electric Co. 7,924 451 WMX Technologies Inc. 16,933 449 Columbia/HCA Healthcare Corp. 11,900 446 Kellogg Co. 8,043 437 Sprint Corp. 12,200 425 MCI Communications Corp. 19,176 424 Schering-Plough Corp. 6,909 423 * Airtouch Communications 17,500 413 * McCaw Cellular Communications, Inc. 7,500 387 Capital Cities/ABC, Inc. 5,400 384 * Oracle Systems Corp. 10,182 381 Caterpillar, Inc. 3,600 360 Sara Lee Corp. 16,800 357 Allied-Signal, Inc. 10,100 350 May Department Stores Co. 8,740 343 * Toys R Us, Inc. 10,168 333 The Dun & Bradstreet Corp. 5,965 331 * Tele-Communications, Inc. Class A 15,738 321 Monsanto Co. 4,200 318
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Market Value Shares (000)+ - - --------------------------------------------------------------- General Mills, Inc. 5,708 $ 312 Warner-Lambert Co. 4,707 311 Campbell Soup Co. 9,031 310 Kimberly-Clark Corp. 5,806 307 Phillips Petroleum Co. 9,400 294 Norwest Corp. 11,100 290 Enron Corp. 8,820 289 PPG Industries, Inc. 7,600 285 Compaq Computer Corp. 8,800 284 H.J. Heinz Co. 8,846 282 Keycorp 8,500 271 Colgate-Palmolive Co. 5,201 270 Conagra, Inc. 8,752 267 Automatic Data Processing, Inc. 4,952 263 Gannett Co., Inc. 5,265 261 CPC International, Inc. 5,391 260 AMP, Inc. 3,732 258 Texas Instruments, Inc. 3,200 254 United Healthcare Corp. 5,400 248 Northern Telecom Ltd. 8,800 243 Albertson's, Inc. 8,774 241 American Barrick Resources 10,000 239 Corning, Inc. 7,300 238 Computer Associates International, Inc. 5,787 231 Blockbuster Entertainment Corp. 8,779 227 The Limited, Inc. 13,164 227 The Gap, Inc. 5,103 218 * Novell, Inc. 13,011 216 Marsh & McLennan, Inc. 2,588 216 U.S. Healthcare, Inc. 5,800 215 Pitney Bowes, Inc. 5,546 212 Nucor Corp. 3,080 211 * Cisco Systems, Inc. 9,100 210 Browning-Ferris Industries, Inc. 6,846 208 Dayton-Hudson Corp. 2,500 203 * Amgen, Inc. 4,698 201 Wm. Wrigley, Jr. Co. 4,211 200 UST, Inc. 7,226 196 Lowes Cos., Inc. 5,400 185 Placer Dome Group, Inc. 8,500 183 American Cyanamid Co. 3,100 174 CBS, Inc. 550 171 Burlington Northern, Inc. 3,190 170 Medtronic, Inc. 2,041 164 Quaker Oats Co. 2,312 162 Walgreen Co. 4,417 161 Genuine Parts Co. 4,410 159 Avon Products, Inc. 2,617 154 International Flavors & Fragrances, Inc. 3,907 153 Illinois Tool Works, Inc. 3,918 153 Fluor Corp. 2,995 152 Hercules, Inc. 1,400 150 Mattel, Inc. 5,891 149 Rohm & Haas Co. 2,400 149 Sysco Corp. 6,594 149 Rubbermaid, Inc. 5,670 149 H & R Block, Inc. 3,774 148 Westinghouse Electric Corp. 12,400 144 Great Lakes Chemical Corp. 2,608 141 Eaton Corp. 2,700 140 Santa Fe Pacific Corp. 6,700 140 Eastman Chemical 2,925 140 Morton International, Inc. 1,700 133 Newell Co. 2,762 128 Nordstrom, Inc. 3,000 128 The Tribune Co. 2,378 127 Ralston-Purina Group 3,647 126 Newmont Mining Corp. 3,120 126 Dresser Industries, Inc. 6,100 125 Marriott International 4,608 123 MBNA Corp. 5,276 119 Dover Corp. 2,016 119 McGraw-Hill, Inc. 1,715 114 Winn Dixie Stores, Inc. 2,619 113 W.W. Grainger, Inc. 1,727 110 * Promus Co. Inc. 3,667 109 Alco Standard Corp. 1,900 109 McKesson Corp. 1,469 106 Pioneer Hi Bred International 3,200 105 Torchmark Corp. 2,647 103 Clorox Co. 2,014 98 Harcourt General, Inc. 2,770 97 Reebok International Ltd. 3,095 92 Praxair, Inc. 4,718 92 * The Kroger Co. 3,921 91 Englehard Corp. 3,578 90 Hasbro, Inc. 2,980 88 Homestake Mining Co. 4,700 88 Roadway Services, Inc. 1,400 88 Deluxe Corp. 3,095 82 Comcast Corp. Class A 4,555 81 Bausch & Lomb, Inc. 2,196 81 Interpublic Group of Cos., Inc. 2,580 80 * DSC Communications Corp. 3,952 77 * Computer Sciences Corp. 1,800 75 Nalco Chemical, Inc. 2,314 74 Brunswick Corp. 3,300 73 * FMC Corp. 1,334 72 Cooper Tire & Rubber Co. 3,101 72 Comcast Corp. Class A Special 3,977 71 Pep Boys (Manny, Moe & Jack) 2,227 70 * ALZA Corp. 2,940 69
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Market Value Shares (000)+ - - --------------------------------------------------------------- The Dial Corp. 1,600 $ 68 Circuit City Stores, Inc. 3,268 67 Pet, Inc. 3,509 65 * Lotus Development Corp. 1,700 62 Whitman Corp. 3,946 61 Pall Corp. 4,064 61 Borden, Inc. 4,900 61 Armstrong World Industries Inc. 1,300 61 Worthington Industries, Inc. 3,091 57 TJX Cos., Inc. 2,611 57 St. Jude Medical, Inc. 1,763 56 * King World Productions, Inc. 1,385 55 Millipore Corp. 1,000 53 Wendys International, Inc. 3,345 52 * Unisys Corp. 5,600 52 Manor Care Inc. 2,023 51 Allergan, Inc. 2,252 49 Foster Wheeler Corp. 1,300 47 Scientific-Atlanta, Inc. 1,372 47 Ecolab, Inc. 2,136 47 * Owens-Corning Fiberglas Corp. 1,437 45 Bemis Co., Inc. 2,010 45 Perkin-Elmer Corp. 1,476 43 C.R. Bard, Inc. 1,688 40 * Biomet, Inc. 3,787 40 * Ceridian Corp. 1,600 39 * Andrew Corp. 1,050 38 Autodesk, Inc. 750 37 Trinova Corp. 1,000 35 Briggs & Stratton Corp. 500 33 * Maxus Energy Corp. 4,682 23 Cincinnati Milacron, Inc. 1,100 23 Brown Group, Inc. 600 23 Shared Medical Systems Corp. 900 22 * Shoney's Inc. 1,353 21 John H. Harland Co. 946 21 Luby's Cafeterias, Inc. 900 20 * Armco, Inc. 3,000 17 * USAir Group, Inc. 2,100 13 - - --------------------------------------------------------------- TOTAL COMMON STOCKS (99.5%) (Cost $59,133) 57,191 - - ---------------------------------------------------------------
Face Market Amount Value (000) (000)+ - - --------------------------------------------------------------- TEMPORARY CASH INVESTMENT (.5%) - - --------------------------------------------------------------- REPURCHASE AGREEMENT Collateralized by U.S. Government Obligations in a Pooled Cash Account 4.26%, 7/1/94 (Cost $305) $305 $ 305 - - --------------------------------------------------------------- TOTAL INVESTMENTS (100.1%) (Cost $59,438) 57,496 - - --------------------------------------------------------------- OTHER ASSETS AND LIABILITIES (-.1%) - - --------------------------------------------------------------- Receivables for Securities Sold 6,731 Other Assets--Note B 344 Payables for Securities Purchased (7,008) Other Liabilities (107) ------- (40) - - --------------------------------------------------------------- NET ASSETS (100%) - - --------------------------------------------------------------- Applicable to 5,959,132 outstanding shares of beneficial interest (unlimited authorization) $57,456 - - --------------------------------------------------------------- NET ASSET VALUE PER SHARE $9.64 ===============================================================
+ See Note A to Financial Statements. * Non-Income Producing Security.
- - --------------------------------------------------------------- AT JUNE 30, 1994, NET ASSETS CONSISTED OF: - - --------------------------------------------------------------- Amount Per (000) Share -------- -------- Paid in Capital $60,200 $10.10 Undistributed Net Investment Income 48 .01 Accumulated Net Realized Losses (850) (.14) Unrealized Depreciation of Investments--Note D (1,942) (.33) - - --------------------------------------------------------------- NET ASSETS $57,456 $9.64 - - ---------------------------------------------------------------
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Market Value VALUE PORTFOLIO Shares (000) - - --------------------------------------------------------------- COMMON STOCKS - - --------------------------------------------------------------- Exxon Corp. 226,591 $12,831 Royal Dutch Petroleum Co. 97,812 10,234 General Motors Corp. 135,917 6,830 International Business Machines Corp. 106,048 6,230 Mobil Corp. 72,670 5,932 BellSouth Corp. 91,026 5,621 GTE Corp. 174,800 5,506 Ford Motor Co. 91,353 5,390 Amoco Corp. 90,554 5,162 Chevron Corp. 119,590 5,008 Southwestern Bell Corp. 109,700 4,772 Bell Atlantic Corp. 79,700 4,463 Ameritech Corp. 99,702 3,814 U.S. West Corp. 83,133 3,481 Hewlett-Packard Co. 46,100 3,475 Dow Chemical Co. 50,482 3,300 Sears, Roebuck & Co. 64,469 3,095 Chrysler Corp. 64,918 3,059 Atlantic Richfield Co. 29,200 2,982 BankAmerica Corp. 63,963 2,926 NYNEX Corp. 76,112 2,883 The Boeing Co. 62,127 2,873 Texaco, Inc. 47,219 2,851 Citicorp 70,946 2,829 NationsBank, Inc. 49,446 2,540 Banc One Corp. 69,596 2,384 Pacific Telesis Group 77,000 2,377 J.C. Penney Co., Inc. 43,100 2,338 American Express Co. 90,588 2,333 Southern Co. 118,286 2,218 J.P. Morgan & Co., Inc. 35,527 2,198 Union Pacific Corp. 37,500 2,123 The Seagram Co. Ltd. 68,014 2,057 Federal Home Loan Mortgage Corp. 33,091 2,002 Travelers Inc. 59,057 1,905 Xerox Corp. 18,957 1,853 Pacific Gas & Electric Co. 77,818 1,848 Chemical Banking Corp. 46,318 1,783 ITT Corp. 21,518 1,756 General Re Corp. 15,276 1,665 Norfolk Southern Corp. 25,440 1,603 Raytheon Co. 24,725 1,601 Wells Fargo & Co. 10,037 1,509 Rockwell International Corp. 40,275 1,505 Weyerhaeuser Co. 37,442 1,498 International Paper Co. 22,522 1,492 United Technologies Corp. 23,166 1,488 CSX Corp. 19,100 1,442 Tenneco, Inc. 30,900 1,433 First Union Corp. 31,049 1,432 Archer-Daniels-Midland Co. 59,878 1,392 Duke Power Co. 37,572 1,343 Baxter International, Inc. 50,448 1,324 Merrill Lynch & Co., Inc. 37,808 1,323 Texas Utilities Co. 41,026 1,287 The Chase Manhattan Corp. 33,565 1,284 Unocal Corp. 44,300 1,268 PNC Bank Corp. 43,025 1,242 The Chubb Corp. 16,021 1,228 Aluminum Co. of America 16,147 1,181 Dean Witter Discover & Co. 31,304 1,174 American Brands, Inc. 36,974 1,169 Public Service Enterprise Group Inc. 44,819 1,165 First Interstate Bancorp. 15,050 1,159 Kmart Corp. 74,588 1,156 Aetna Life & Casualty Co. 20,397 1,140 Consolidated Edison Co. of New York, Inc. 42,777 1,134 Dominion Resources, Inc. 30,705 1,117 Suntrust Banks, Inc. 22,500 1,088 American General Corp. 39,074 1,079 PECO Energy Corp. 40,380 1,065 Deere & Co. 15,744 1,065 SCE Corp. 81,616 1,051 Occidental Petroleum Corp. 55,623 1,050 FPL Group, Inc. 34,869 1,042 Wachovia Corp. 31,400 1,040 Entergy Corp. 41,987 1,039 The Goodyear Tire & Rubber Co. 27,690 997 Burlington Resources, Inc. 23,800 985 Bankers Trust New York Corp. 14,773 984 Georgia-Pacific Corp. 16,420 983 Salomon, Inc. 20,256 967 CIGNA Corp. 13,119 959 Fleet Financial Group, Inc. 25,184 951 American Electric Power Co., Inc. 33,636 950 NBD Bancorp, Inc. 29,438 931 Alcan Aluminium Ltd. 40,733 927 Upjohn Co. 31,733 924 Commonwealth Edison Co. 39,204 892 Air Products & Chemicals, Inc. 20,776 880 USX-Marathon Group 52,021 871 Pacificorp 51,512 869 Textron, Inc. 16,063 841 McDonnell Douglas Corp. 7,186 841 Amerada Hess Corp. 16,878 831 * AMR Corp. 13,870 824 Nike, Inc. Class B 13,501 807 R.R. Donnelley & Sons Co. 28,768 798 Conrail, Inc. 14,440 791 Masco Corp. 28,600 787 Barnett Banks of Florida, Inc. 17,854 781
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Market Value Shares (000)+ - - --------------------------------------------------------------- Houston Industries, Inc. 23,918 $ 780 TRW, Inc. 11,870 766 Martin Marietta Corp. 17,344 765 Cooper Industries, Inc. 21,215 764 First Chicago Corp. 15,814 761 * Federal Express Corp. 10,110 754 Lockheed Corp. 11,416 746 Melville Corp. 19,235 745 Union Carbide Corp. 27,507 736 Honeywell, Inc. 23,700 735 Lincoln National Corp. 17,300 733 Central & South West Corp. 34,262 728 Phelps Dodge Corp. 12,758 727 Whirlpool Corp. 13,652 717 Scott Paper Co. 13,456 703 Halliburton Co. 20,765 701 Transamerica Corp. 13,329 695 Hershey Foods Corp. 16,000 694 The Times Mirror Co. Class A 23,024 694 First Fidelity Bancorp. 14,858 689 W.R. Grace & Co. 17,151 684 Ingersoll-Rand Co. 19,229 675 Carolina Power & Light Co. 29,162 674 CoreStates Financial Corp. 26,000 670 Detroit Edison Co. 26,696 661 Mellon Bank Corp. 11,615 653 Consolidated Natural Gas Co. 17,082 645 Safeco Corp. 11,560 642 Dillard Department Stores Class A 20,768 641 American Stores Co. 26,088 639 UNUM Corp. 14,100 631 St. Paul Cos., Inc. 15,584 625 Louisiana-Pacific Corp. 20,100 613 * Crown Cork & Seal Co., Inc. 16,200 603 Boatmen's Bancshares, Inc. 19,096 597 Union Electric Corp. 18,706 594 Household International, Inc. 17,376 591 * Price/Costco Inc. 38,974 580 Union Camp Corp. 12,756 579 Apple Computer, Inc. 21,476 566 Baltimore Gas & Electric Co. 26,617 566 VF Corp. 11,843 563 Dow Jones & Co., Inc. 18,140 562 Providian Corp. 18,412 557 Champion International Corp. 16,769 551 Becton, Dickinson & Co. 13,356 546 Williams Cos., Inc. 19,012 544 Loral Corp. 15,122 529 Reynolds Metals Co. 11,003 528 Sun Co., Inc. 19,583 526 Inco Ltd. 21,380 521 Baker Hughes, Inc. 25,362 520 Coastal Corp. 19,154 517 Dana Corp. 18,078 515 Knight-Ridder, Inc. 9,824 502 Sherwin-Williams Co. 15,900 501 Ohio Edison Co. 27,944 500 Cyprus Amax 16,732 498 Northern States Power Co. of Minnesota 12,036 495 Sonat, Inc. 15,974 491 * Digital Equipment Corp. 25,219 489 Temple-Inland Inc. 10,194 486 Bank of Boston Corp. 19,368 477 U.S. Bancorp 18,330 474 USX-U.S. Steel Group 13,892 471 Shawmut National Corp. 21,388 471 The Mead Corp. 10,663 471 General Dynamics Corp. 11,494 470 Hilton Hotels Corp. 8,829 468 National Medical Enterprises, Inc. 29,922 468 New York Times Co. Class A 19,469 465 Mallinckrodt Group, Inc. 14,000 455 Golden West Financial Corp. 11,758 454 Kerr-McGee Corp. 9,344 440 Great Western Financial Corp. 23,829 438 Premark International, Inc. 5,800 436 Jefferson-Pilot Corp. 8,899 434 Pennzoil Co. 8,418 431 Panhandle Eastern Corp. 21,552 426 * Advanced Micro Devices, Inc. 16,689 415 Delta Air Lines, Inc. 9,074 411 American Greetings Corp. Class A 13,586 404 * Western Atlas Inc. 8,438 402 Service Corp. International 15,500 399 H.F. Ahmanson & Co. 21,103 398 Niagara Mohawk Power Corp. 26,229 397 Tandy Corp. 11,462 395 SuperValu, Inc. 12,973 392 Tyco International Ltd. 8,450 387 * National Semiconductor Corp. 22,045 380 Woolworth Corp. 23,811 378 Parker Hannifin Corp. 8,808 375 Westvaco Corp. 12,078 371 Ashland Oil, Inc. 10,806 363 Johnson Controls, Inc. 7,467 361 Maytag Corp. 19,505 361 * Bethlehem Steel Corp. 19,300 360 Brown-Forman Corp. Class B 12,617 356 Ryder System, Inc. 14,150 356 Beneficial Corp. 9,568 349 * Sun Microsystems, Inc. 16,805 342 Cummins Engine Co., Inc. 7,600 329 Northrop Grumman Corp. 8,815 327
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Market Value Shares (000)+ - - --------------------------------------------------------------- The Stanley Works 8,100 $ 326 Echlin, Inc. 10,800 325 Paccar, Inc. 7,093 325 Harris Corp. 7,287 322 Rite Aid Corp. 15,823 320 UAL Corp. 2,500 316 Pacific Enterprises 15,400 306 Moore Corp. Ltd. 17,828 301 Avery Dennison Corp. 10,068 292 * Varity Corp. 8,000 291 Snap-On Inc. 7,703 287 Liz Claiborne, Inc. 14,277 286 General Signal Corp. 8,600 284 Raychem Corp. 7,700 277 Polaroid Corp. 8,452 269 * Inland Steel Industries, Inc. 7,552 263 Oryx Energy Co. 17,359 260 Louisiana Land & Exploration Co. 6,100 259 Black & Decker Corp. 15,024 259 NICOR, Inc. 9,822 259 * Columbia Gas Systems, Inc. 9,245 250 James River Corp. 14,667 249 McDermott International, Inc. 9,834 246 * Stone Container Corp. 16,267 238 * Tandem Computers, Inc. 20,929 236 E-Systems, Inc. 6,277 235 National Service Industries, Inc. 8,815 229 United States Surgical Corp. 10,198 227 Russell Corp. 7,632 222 Echo Bay Mines Ltd. 20,500 220 PSI Resources, Inc. 10,259 217 Mercantile Stores Co., Inc. 6,593 212 Giant Food, Inc. Class A 10,667 209 Thomas & Betts Corp. 3,400 209 Asarco, Inc. 7,423 209 Potlatch Corp. 5,364 207 The BF Goodrich Co. 4,668 203 Pittston Services Group 7,400 198 The Timkin Co. 5,688 186 Fleming Cos., Inc. 6,703 186 USF&G Corp. 15,135 185 * Clark Equipment Co. 3,100 185 * Navistar International Corp. 13,700 183 Safety-Kleen Corp. 10,605 180 * Beverly Enterprises Inc. 14,767 179 Federal Paper Board Co., Inc. 7,711 176 Ogden Corp. 7,853 173 Charming Shoppes, Inc. 18,804 172 ENSERCH Corp. 11,783 169 Teledyne Inc. 10,100 162 Fleetwood Enterprises, Inc. 8,254 158 Tektronix, Inc. 5,400 153 Santa Fe Energy Resources Inc. 16,192 152 EG & G, Inc. 10,100 152 Continental Corp. 9,764 151 * Consolidated Freightways, Inc. 6,300 150 USLIFE Corp. 4,154 148 Boise Cascade Corp. 6,661 147 Great Atlantic & Pacific Tea Co., Inc. 6,818 147 Crane Co. 5,500 145 Peoples Energy Corp. 6,198 145 Centex Corp. 5,504 142 Ball Corp. 5,193 135 Longs Drug Stores, Inc. 3,749 134 Jostens Inc. 8,207 132 * Rowan Cos., Inc. 15,100 132 Alexander & Alexander Services, Inc. 8,000 130 Noram Energy Corp. 21,664 130 Morrison-Knudsen Co., Inc. 5,900 127 Adolph Coors Co. Class B 7,157 124 Transco Energy Co. 7,500 122 Stride Rite Corp. 9,200 120 Helmerich & Payne, Inc. 4,500 119 Pulte Corp. 5,079 117 Amdahl Corp. 20,969 115 * Cray Research, Inc. 4,800 109 Alberto-Culver Co. Class B 5,000 108 Meredith Corp. 2,500 106 Springs Industries Inc. Class A 3,200 96 Bruno's Inc. 13,408 94 Community Psychiatric Centers 7,700 91 Yellow Corp. 5,274 90 Eastern Enterprises 3,900 89 Giddings & Lewis, Inc. 5,878 88 NACCO Industries, Inc. Class A 1,600 86 Harnischfeger Industries Inc. 4,300 84 Kaufman & Broad Home Corp. 6,100 82 Oneok, Inc. 4,600 79 * Intergraph Corp. 8,200 77 Bassett Furniture Industries, Inc. 2,475 69 Outboard Marine Corp. 3,300 66 * Ryan's Family Steak Houses, Inc. 9,200 64 Handleman Co. 6,200 63 * Zenith Electronics Corp. 6,600 59 * Bally Entertainment Corp . 8,500 55 First Mississippi Corp. 3,600 55 * Data General Corp. 6,300 49 Zurn Industries, Inc. 2,400 49 Rollins Environmental Services, Inc. 9,837 47 * National Intergroup, Inc. 2,400 42 SPX Corp. 2,600 40 * Hartmarx Corp. 6,000 37 * M/A-Com, Inc. 4,300 34
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Market Value Shares (000)+ - - --------------------------------------------------------------- Oshkosh B Gosh, Inc. Class A 2,500 $ 34 Skyline Corp. 1,700 31 * National Education Corp. 4,600 26 * Genesco, Inc. 4,200 14 - - --------------------------------------------------------------- TOTAL COMMON STOCKS (99.9%) (Cost $296,647) 289,885 - - --------------------------------------------------------------- OTHER ASSETS AND LIABILITIES (.1%) - - --------------------------------------------------------------- Receivables for Securities Sold 33,354 Other Assets--Notes B and E 1,476 Payables for Securities Purchased (33,003) Other Liabilities--Note E (1,501) --------- 326 - - --------------------------------------------------------------- NET ASSETS (100%) - - --------------------------------------------------------------- Applicable to 25,868,694 outstanding shares of beneficial interest (unlimited authorization) $290,211 - - --------------------------------------------------------------- NET ASSET VALUE PER SHARE $11.22 ===============================================================
+ See Note A to Financial Statements. * Non-Income Producing Security.
- - --------------------------------------------------------------- AT JUNE 30, 1994, NET ASSETS CONSISTED OF: - - --------------------------------------------------------------- Amount Per (000) Share -------- -------- Paid in Capital $293,737 $11.36 Undistributed Net Investment Income 1,122 .04 Accumulated Net Realized Gains 2,114 .08 Unrealized Depreciation of Investments (6,762) (.26) - - --------------------------------------------------------------- NET ASSETS $290,211 $11.22 - - ---------------------------------------------------------------
Market SMALL CAPITALIZATION Value STOCK PORTFOLIO Shares (000) - - --------------------------------------------------------------- COMMON STOCKS - - --------------------------------------------------------------- AAR Corp. 36,200 $ 489 * AER Energy Resources Inc. 54,900 298 ABM Industries 20,700 419 AGCO Corp. 17,600 645 * AK Steel Holding Corp. 16,700 422 A.L. Laboratories, Inc. 14,400 198 * AST Research, Inc. 37,400 528 * Abbey Healthcare Group, Inc. 10,900 163 Acclaim Entertainment Inc. 28,750 465 Acordia, Inc. 15,500 430 * Actel Corp. 30,000 270 * Acuson Corp. 34,250 449 * ACX Technologies Inc. 19,700 739 ADAC Laboratories 34,033 281 * Addington Resources, Inc. 23,200 383 * Adelphia Communications Corp. Class A 23,100 300 * Advanced Tissue Sciences Inc. 50,300 220 * Advantage Healthcare Corp. 23,300 524 ADVO, Inc. 41,950 640 * Air and Water Technologies Corp. Class A 29,600 270 Air Express International Corp. 12,000 265 * Alantec Corp. 100 2 * Alaska Air Group, Inc. 37,200 553 Albank Financial Corp. 36,900 842 Albany International Corp. 36,200 683 Alberto-Culver Co. Class B 19,400 419 Alex Brown & Sons, Inc. 20,500 507 * Alexander's, Inc. 9,600 496 Alfa Corp. 49,800 548 Alico, Inc. 12,000 201 The Allen Group, Inc. 28,360 500 * Alliance Pharmaceutical Corp. 32,000 308 * Alliant Techsystems, Inc. 24,100 699 * Alltrista Corp. 793 15 * Allwaste, Inc. 56,200 330 * Alpha Beta Tech 37,300 396 * Alpha Hospitality Corp. 2,800 19 * Alpine Group, Inc. 63,000 315 * Altera Corp. 28,900 820 Amax Gold, Inc. 48,731 384 Amcast Industrial Corp. 30,700 671 * America Online, Inc. 9,400 538 American Annuity Group Inc. 51,000 453 Amcore Financial 27,480 574 American Bankers Insurance Group 26,200 593 American City Business Journal 35,000 542 American Colloid Co. 31,000 422 American Filtrona Corp. 14,900 432 * American Freightways 15,700 332
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Market Value Shares (000)+ - - --------------------------------------------------------------- American Health Properties, Inc. 30,700 $ 737 American Heritage Life Investment Corp. 26,532 468 American Income Holding Inc. 19,900 520 * American Management Systems, Inc. 23,900 562 * American Medical Response, Inc. 2,100 54 * American Oil and Gas Corp. 54,100 548 * American Pacific Corp. 30,600 451 * American Recreation Co. Holdings, Inc. 27,200 394 American President Cos., Ltd. 28,900 647 * American Residential Holdings Corp. 36,700 812 American Software, Inc. Class A 59,500 297 * American Travellers Corp. 24,400 335 Ameron, Inc. 13,700 486 Ametek, Inc. 50,300 742 * Ampal-American Israel Corp. 14,000 94 AMPCO-Pittsburgh Corp. 4,700 30 * Amsco International, Inc. 70,900 585 Amtech Corp. 20,650 237 * Anacomp, Inc. 162,600 488 * Analogic Corp. 24,800 403 * Anchor Bancorp Inc. 40,600 634 Anchor Bancorp Wisconsin Inc. 23,100 632 * Anchor Gaming 10,100 119 Angelica Corp. 22,300 588 * Anthem Electronics, Inc. 27,500 571 Anthony Industries, Inc. 14,486 221 Apogee Enterprises, Inc. 22,000 294 Applebee's International, Inc. 27,200 330 * Applied Innovation, Inc. 10,800 232 * Applied Bioscience International, Inc. 36,408 212 * Applied Magnetics Corp. 43,700 191 Applied Power, Inc. 18,300 373 Aptargroup Inc. 28,600 651 Aquarion Co. 24,452 620 Arbor Drugs, Inc. 21,000 394 Arctco Inc. 28,000 731 * Arden Group Inc. Class A 9,100 391 * Argosy Gaming Co. 1,100 16 * Armco, Inc. 94,600 532 Arnold Industries, Inc. 34,900 676 Arrow International, Inc. 25,400 508 Arvin Industries, Inc. 26,500 636 Ashland Coal Inc. 20,600 551 * Aspect Telecommunications 18,100 509 Associated Banc-Corp. 17,587 646 Associated Natural Gas Corp. 19,800 634 * Astoria Financial Corp. 14,200 449 * Atari Corp. 87,100 250 * Athena Neurosciences, Inc. 49,700 348 Augat, Inc. 22,200 438 * Automotive Industries Inc. Class A 24,000 642 Autotote Corp. 39,800 632 Avalon Properties 24,200 514 * Avatar Holding, Inc. 17,600 636 Avemco Corp. 18,850 261 Aviall Inc. 875 7 * Aztar Corp. 98,500 579 BHC Financial Inc. 28,175 285 * Bisys Group, Inc. 31,200 645 * BJ Services Co. 35,800 738 * BMC Industries, Inc. 23,500 637 BRE Properties Inc. Class A 15,100 462 BSB Bancorp, Inc. 22,815 622 BWIP INC. 34,300 596 J. Baker, Inc. 14,400 276 Baldor Electric Co. 26,980 631 * Baldwin Piano and Organ Co. 1,100 15 * Baldwin Technology Class A 89,300 402 Ballard Medical Products 37,166 376 * Bally Entertainment Corp. 67,900 441 * Bally Gaming International Inc. 18,000 217 Baltimore Bancorp. 48,300 960 * Banctec, Inc. 22,950 453 Bank of Granite Corp. 12,750 354 Bank South Corp. 5,700 103 Bank North Group 21,300 450 Banta Corp. 26,000 835 * Banyan Systems, Inc. 37,700 485 Barnes Group, Inc. 4,700 166 * Barr Labs Inc. 27,100 505 * Barrett Resources Corp. 35,100 555 Bassett Furniture Industries, Inc. 20,325 574 Bay Apartment Communities, Inc. 27,900 572 Bay State Gas Co. 19,000 456 Bay View Capital Corp. 24,600 618 Bearings, Inc. 13,600 432 Belden Inc. 23,400 433 Bell Bancorp, Inc. 14,700 792 * Benson Eyecare Corp. 60,700 455 Bergen Brunswig Corp. Class A 41,137 689 W.R. Berkley Corp. 15,800 614 Berkshire Realty Co., Inc. 36,300 386 Berry Petroleum Class A 42,800 407 * Bertucci's Holding Corp. 22,900 321 * Bettis Corp. 33,050 155 BIC Corp. 100 3 * Bio-Rad Labs, Inc. Class A 14,400 261 Biocraft Laboratories 20,700 282 Birmingham Steel Corp. 4,500 121
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Market Value Shares (000)+ - - --------------------------------------------------------------- Black Hills Corp. 20,200 $ 371 Blair Corp. 11,000 450 Blessings Corp. 9,700 290 Block Drug Co. Class A 11,597 372 * Bolt Beranek and Newman, Inc. 58,400 701 Bombay Co. 41,975 540 * Books-a-Million Inc. 18,100 421 * Boole & Babbage Inc. 17,100 455 * Boomtown Inc. 29,200 478 * Borg-Warner Security Corp. 23,100 260 * Borland International, Inc. 1,100 11 Boston Bancorp 18,400 605 * Boston Chicken, Inc. 23,100 832 Bowne & Co., Inc. 22,200 461 W.H. Brady Class A 15,700 714 * Breed Technological Inc. 12,200 338 Brenco, Inc. 32,800 396 Brenton Banks, Inc. 21,450 410 * The Broadway Stores, Inc. 66,700 567 * Brock Control Systems, Inc. 19,200 245 * Broderbund Software 11,000 495 * Brooktree Corp. 52,600 381 Brown Group, Inc. 26,100 982 Bruno's Inc. 60,900 434 Brush Wellman, Inc. 16,300 259 Buffets Inc. 31,600 581 CBL & Associates Properties, Inc. 16,400 340 CCB Financial Corp. 10,400 412 CCP Insurance, Inc. 18,700 381 * CDI Corp. 41,500 550 CMAC Investment Corp. 18,100 457 CNB Bankshares, Inc. 16,711 566 CPI Corp. 29,000 482 CRS/Sirrine, Inc. 37,200 400 * CSF Holdings, Inc. 23,300 492 * C-TEC Corp. 22,100 563 CWM Mortgage Holdings Inc. 51,100 396 Cabot Oil & Gas Corp. 29,026 606 * Cadence Design Systems, Inc. 63,300 1,060 * Caldor Corp. 24,300 680 * Calgene, Inc. 37,000 432 Calgon Carbon Corp. 30,200 415 * California Energy Co. 25,900 427 California Federal Bank Class A 67,978 799 California Water Service Co. 14,713 528 Calmat Co. 26,400 535 Camden Property Trust 12,000 294 * Canandaigua Wine Co., Inc. Class A 14,800 368 * Canandaigua Wine Co., Inc. Class B 2,800 77 Capital Re Corp. 16,400 344 Capitol American Financial Corp. 7,600 179 Capstead Mortgage Corp. 22,100 508 Caraustar Industries, Inc. 30,600 528 Cardinal Health, Inc. 1,100 54 * Career Horizons Inc. 24,000 450 Carlisle Co., Inc. 18,400 603 Carpenter Technology Corp. 11,300 675 Carr Realty Corp. 28,100 608 * Carson Pirie Scott & Co. 19,200 335 Cascade Natural Gas Corp. 33,050 471 Casey's General Stores 55,700 627 Cash America International Inc. 74,800 580 * Casino Data Systems 13,600 269 Casino Magic Corp. 600 3 * Catalina Marketing Corp. 14,400 605 * Catalytica, Inc. 35,400 230 * Catellus Development Corp. 73,450 542 Cato Corp. Class A 29,600 374 Cellular Communications International Inc. 10,200 280 * Cellpro, Inc. 15,200 296 * Centex Construction Products, Inc. 26,000 309 * Centocor, Inc. 74,800 837 Central Hudson Gas & Electric Corp. 24,600 646 Central Louisiana Electric Co. 31,500 740 Central Maine Power Co. 32,100 369 Central Vermont Public Service Corp. 34,400 503 Centura Banks, Inc. 30,500 663 * Cerner Corp. 22,800 624 * Chambers Development Co. Class A 55,900 122 Chaparral Steel Co. 28,500 256 Charter One Financial 32,875 672 * Charter Medical Corp. 39,100 885 Checkers Drive-In Restaurant 1,200 7 Chemed Corp. 21,600 772 Chemical Finance 12,795 505 The Cherry Corp. 15,800 482 Chesapeake Corp. of Virginia 30,400 775 * Chico's FAS 30,000 352 * Chipcom Corp. 15,700 618 Chiquita Brands International, Inc. 26,000 325 Chittenden Corp. 24,870 513 * Christiana Cos., Inc. 15,500 527 Church and Dwight, Inc. 17,200 391 Cilcorp, Inc. 19,000 553 Citifed Bancorp 17,500 475 Citizens Bancorp (MD) 23,900 672 Citizens Corp. 36,800 644 Citizens First Bancorp, Inc. 64,800 583 * City National Corp. 62,500 625 Claire's Stores, Inc. 36,000 369 Clarcor Inc. 16,050 277
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Market Value Shares (000)+ - - --------------------------------------------------------------- * Clark Equipment Co. 2,400 $ 143 Clear Channel Communications 12,375 466 Cleveland-Cliffs Iron Co. 16,600 631 * Clinicom 26,900 397 * Coast Savings Financial, Inc. 51,500 869 Coastal Bancorp 32,300 541 Coca-Cola Bottling Co. 20,422 569 Coeur D'Alene Mines Corp. 20,871 389 Cognex Corp. 39,600 554 * Cole National Corp. 2,500 34 Collagen Corp. 18,800 355 Collective Bancorporation Inc. 30,600 669 Colonial Bancgroup, Inc. 30,300 670 Colonial Properties Trust 6,000 136 * Columbia Laboratories Inc. 96,700 429 * Columbia First Federal Savings and Loan Assn. 16,800 678 Columbus Realty Trust 8,000 168 Comair Holdings, Inc. 24,200 496 Comdata Holdings Corp. 43,533 340 Commerce Bancorp, Inc. 32,970 639 Commerce Clearing House, Inc. Class A 33,100 567 Commerce Group, Inc. 36,900 618 * Commercial Federal Corp. 20,800 493 Commercial Intertech Corp. 29,900 789 Commercial Metals Co. 19,866 511 * Commnet Cellular Inc. 13,000 234 Commonwealth Energy Systems 15,000 607 Communications Systems, Inc. 40,400 500 Community Psychiatric Centers 61,150 726 * Compression Labs, Inc. 42,240 433 * Computer Network Technology Corp. 63,100 434 * CompUSA, Inc. 700 6 * Concord EFS Inc. 14,900 356 * Cone Mills Corp. 40,200 518 Connecticut Natural Gas Corp. 15,400 391 Connecticut Water Services, Inc. 10,600 246 * Consolidated Freightways, Inc. 4,200 100 * Consolidated Stores, Inc. 56,100 687 * Continental Medical Systems, Inc. 59,350 482 * Continuum Inc. 27,800 566 * Copytele, Inc. 35,200 328 * Coral Gables Federal Savings & Loan Assn. 17,100 357 * Cordis Corp. 4,500 175 Core Industries, Inc. 20,200 204 CoreStates Financial Corp. 137 3 * Corrections Corp. of America 38,300 627 Cousins Properties, Inc. 21,200 329 Coventry Corp. 14,400 526 Crawford & Co. Class B 26,500 437 * Cray Research, Inc. 27,200 615 * Credence Systems Corp. 11,900 190 Criimi Mae Inc. 61,000 640 A.T. Cross Co. Class A 11,600 186 * Crown Central Petroleum Corp. Class A 13,900 248 Cubic Corp. 11,200 210 Cullen/Frost Bankers, Inc. 15,440 548 Curtice-Burns, Inc. Class A 27,527 440 Curtiss-Wright Corp. 12,800 429 * Cygne Designs, Inc. 2,000 43 * Cygnus Therapeutic Systems 54,400 428 * Cypress Semiconductor Corp. 52,300 850 * Cytec Industries, Inc. 628 12 * Cytogen Corp. 26,100 121 * DF & R Restaurants, Inc. 14,000 327 * D.I.Y. Home Warehouse, Inc. 30,900 270 * Dallas Semiconductor Corp. 36,700 665 Dames & Moore, Inc. 18,300 268 Daniel Industries, Inc. 29,400 323 * Danielson Holdings Corp. 4,100 27 Dart Group Corp. Class A 5,467 417 * Data General Corp. 47,500 368 * Datascope Corp. 28,200 444 * Davidson and Associates, Inc. 23,700 367 Deb Shops, Inc. 9,100 62 * Dekalb Energy Co. Class B 40,500 618 Dekalb Genetics Corp. Class B 15,400 462 Delchamps, Inc. 21,653 482 Delta Woodside 8,000 94 Deposit Guaranty Corp. 26,300 769 * Destec Energy Inc. 1,000 10 Developers Divers Realty Corp. 17,900 555 Devon Energy Corp. 30,600 688 * Devry, Inc. 12,600 357 Dexter Corp. 28,200 684 Diagnostic Products Corp. 22,900 495 * Diagnostek, Inc. 37,800 822 Dibrell Brothers, Inc. 18,400 313 * Digital Microwave Corp. 31,900 331 * Dime Bankcorp Inc. 82,100 811 * Dionex Corp. 8,600 288 Dixie Yarn, Inc. 27,700 235 Donaldson Co., Inc. 31,600 707 * Dovatron International Inc. 23,853 468 * Dravo Corp. 38,000 413 * The Dress Barn, Inc. 39,100 393 Dreyer's Grand Ice Cream, Inc. 16,400 377 * Dual Drilling Co. 28,700 316 Duff & Phelps Corp. 32,300 642 Duke Realty Investments 17,200 436
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Market Value Shares (000)+ - - --------------------------------------------------------------- Duriron Co., Inc. 29,900 $ 490 Duty Free International Inc. 1,200 13 * Dynatech Corp. 26,800 566 Elizabethtown Corp. 18,700 496 * EZ Communications, Inc. Class A 37,800 411 * Eagle Hardware & Garden, Inc. 48,500 452 Eastern Enterprises 22,400 512 Eastern Utilities Associates 28,441 658 Eaton Vance Corp. 13,700 368 * Eckerd Corp. 35,000 722 Edison Brothers Stores, Inc. 16,100 407 * Egghead, Inc. 44,400 316 * Elcor Corp. 20,600 505 Electro Rent Corp. 33,186 460 Emphesys Financial Group, Inc. 16,200 482 Empire District Electric Co. 19,318 316 * Employee Benefit Plans Inc. 33,100 372 Energen Corp. 24,200 505 Enhance Financial Services Group, Inc. 24,800 434 Ennis Business Forms, Inc. 39,350 536 * Enterra Corp. 22,900 481 * Envoy Corp. 36,800 635 * Envirosource, Inc. 99,100 291 * Envirotest Systems Corp. Class A 35,800 434 * Epitope Inc. 28,200 455 * Equicredit Corp. 31,600 549 * Ethan Allen Interiors Inc. 13,100 269 Evans & Sutherland Computer Corp. 31,600 435 * Exabyte Corp. 29,700 427 Excel Industries, Inc. 5,500 85 Exide Corp. 19,500 897 * Exide Electronics Group, Inc. 22,100 445 Expeditors International of Washington, Inc. 18,200 319 Express Scripts 21,600 532 * Ezcorp, Inc. 35,300 472 F & M National Corp. 23,300 393 FMC Gold Co. 63,200 340 * Fabri-Centers of America, Inc. 33,900 509 Farmer Brothers, Inc. 3,350 427 Fastenal Co. 19,400 657 Fay's Drug Co. 23,875 158 * Fedders Corp. 81,700 623 Fidelity National Financial, Inc. 31,483 401 * Fieldcrest Cannon, Inc. 26,100 646 Figgie International Inc. Class A 30,800 312 * Filene's Basement Corp. 62,600 603 Financial Trust Corp. 5,600 235 First Alert, Inc. 4,600 118 First American Financial Corp. 13,500 312 First Bancorp of Ohio 35,800 899 First Citizens Bancshares Class A 11,700 509 First Colonial Bankshares 27,800 639 First Commerce Bancshares Class A 2,000 33 First Commerce Bancshares Class B 8,000 105 First Commercial Corp. 25,815 607 First Commonwealth Financial Corp. 23,600 410 * First Federal Financial 39,775 592 First Financial Bancorp 12,633 483 First Financial Caribbean Corp. 10,000 115 First Financial Savings Assn. 35,000 516 First Merchants Corp. 14,400 419 First Michigan Bank Corp. 23,753 540 First Midwest Bancorp 26,700 708 First Mississippi Corp. 27,300 416 First National Bank of Gainsville 27,550 561 First Source Corp. 16,905 429 Firstfed Michigan Corp. 22,250 513 Firstier Financial Inc. 11,900 561 Fisher Scientific International Inc. 23,100 745 * Flagstar Cos. 61,460 507 Fleet Mortgage Group 400 6 Florida East Coast Railway Co. 8,700 570 Florida Rock Industries, Inc. 16,600 398 Flowers Industries, Inc. 42,000 767 Fluke Corp. 22,100 652 * Foamex International, Inc. 45,700 486 * Foodmaker, Inc. 98,400 554 Foote, Cone & Belding Communications, Inc. 13,500 608 Foothill Group 51,300 603 Fort Wayne National Corp. 16,700 463 Foxmeyer Corp. 34,828 488 * Frame Technology 54,600 587 * Franklin Quest Co. 100 4 Fremont General Corp. 18,400 432 * Fresh Choice, Inc. 21,600 454 * Friedman's, Inc. Class A 17,800 231 Frisch's Restaurants, Inc. 32,534 427 * Fritz Cos., Inc. 12,900 400 H.B. Fuller Co. 20,350 740 Fulton Financial Corp. 30,618 670 * Fund American Enterprise Holding Co. 9,853 695 * Fusion Systems Corp. 9,300 165 G & K Services, Inc. 52,150 789 * GC Cos. 250 6 GFC Financial Corp. 23,900 798 Gables Residential 12,000 287 Gainsco, Inc. 41,318 367 * Galey & Lord 36,900 613
44 72
Market Value Shares (000)+ - - --------------------------------------------------------------- Arthur J. Gallagher & Co. 22,200 $ 688 * Gaylord Container Corp. 75,400 386 * Gencare Health Systems, Inc. 15,500 490 Gencorp, Inc. 37,900 436 * Genelabs Technologies, Inc. 38,000 83 * General Datacomm Industries, Inc. 62,500 1,000 General Growth Properties 20,300 459 General Host Corp. 66,780 359 Gentex Corp. 23,700 607 * Genesis Health 15,500 393 * Genetic Therapy, Inc. 36,600 366 * Geneva Steel Class A 22,200 375 * Gensia Inc. 25,200 236 * Genta Inc. 51,300 410 * Geotek Industries, Inc. 56,000 420 Gerber Scientific, Inc. 28,700 445 * Gerrity Oil & Gas Corp. 60,500 552 * Gibraltar Steel Corp. 3,100 34 Gibson Greetings, Inc. 23,000 371 Gilbert Associates, Inc. Class A 21,875 331 * Gilead Sciences, Inc. 25,400 213 Gleason Corp. 15,900 183 * Glendale Federal 51,300 539 Glimcher Realty Trust 15,700 328 * Global Marine Inc. 224,700 1,039 * Global Natural Resources, Inc. 81,300 589 * Goody's Family Clothing 30,400 547 Gorman-Rupp Co. 14,750 374 Goulds Pumps, Inc. 29,900 639 Graco, Inc. 21,800 409 * Grand Casinos, Inc. 800 11 * Great American Management, Inc. 14,300 486 * Great Financial Corp. 16,000 282 * Great Lakes Bancorp, FSB 16,498 357 Green Mountain Power Corp. 17,200 424 Greif Brothers Corp. Class A 16,100 624 Grey Advertising, Inc. 2,700 500 * Groundwater Technology, Inc. 34,600 458 Grow Group, Inc. 28,400 486 Guardsmen Chemicals Inc. 3,725 34 * Gupta Corp. 35,300 335 Gymboree Inc. 17,400 685 Hubco, Inc. 24,134 489 * Haemonetics Corp. 21,050 382 Haggar Corp. 17,800 538 Hancock Holding Co. 16,646 474 Handleman Co. 44,600 452 Handy & Harman 44,800 627 Harman International Industries, Inc. 15,500 388 Harnischfeger Industries Inc. 37,800 737 Harper Group, Inc. 27,000 385 * Harte-Hanks Communications Co. 12,100 240 * Hartmarx Corp. 90,000 551 Hawkeye Bancorp 36,600 764 Health Management Associates Class A 17,362 356 * Healthdyne, Inc. 73,000 429 * HEALTHSOUTH Rehabilitation Corp. 7,300 191 * Healthwise of America Inc. 19,050 391 Heartland Express, Inc. 20,875 626 Hechinger Co. Class A 40,500 562 * Hecla Mining Co. 49,500 526 Helene Curtis, Inc. 11,900 330 Helmerich & Payne, Inc. 25,700 681 Heritage Financial Services, Inc. 30,800 578 * Heritage Media Corp. Class A 35,104 623 * Hillhaven Corp. 26,480 477 Holly Corp. 12,600 359 Holly Residential Properties 11,000 173 * Hollywood Casino Corp. 47,300 296 * Hollywood Park, Inc. 14,000 324 * Home Holdings Inc. Series A 28,345 372 Home Beneficial Corp. Class B 25,400 530 * Homedco Group Inc. 17,700 491 * Hometown Buffet, Inc. 4,000 61 * Hook Suprex 50,600 683 * Horizon Healthcare Corp. 18,500 423 * Hovnanian Enterprises Class A 39,050 371 * Hovnanian Enterprises Class B 9,650 93 Hudson Foods Inc. Class A 31,100 552 Huffy Corp. 14,400 225 Hughes Supply, Inc. 21,000 438 * Hugoton Energy Corp. 17,400 231 Hunt Manufacturing Co. 31,000 504 * ICN Pharmaceuticals, Inc. 59,300 489 * IHOP Corp. 22,700 650 * IMRS Inc. 22,500 481 IRT Property Co. 46,585 460 IWC Resources Corp. 21,000 423 * IDEX Corp. 17,800 703 IDEXX Corp. 22,400 669 * Immune Response 22,454 225 * Immunex Corp. 46,100 582 * Immunomedics Inc. 45,300 153 * Imo Industries, Inc. 14,100 134 * Imperial Bancorp 39,718 675 * Imperial Credit 47,880 497 Inbrand Corp. 7,500 125 Independent Insurance Group, Inc. 27,600 393 Indiana Energy, Inc. 32,600 595 * Indressco Inc. 36,900 438 * Information Resources, Inc. 25,700 379
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Market Value Shares (000)+ - - --------------------------------------------------------------- Input/Output, Inc. 27,200 $ 649 * Instrument Systems Corp. 58,600 432 * Insurance Auto Auctions, Inc. 12,700 418 * Integrated Health Services, Inc. 18,600 558 Intelligent Electronics Inc. 1,200 18 * Interco Co. 53,000 788 Intercontinental Bank 20,900 460 Interface, Inc. 28,800 328 * Intergraph Corp. 59,200 566 Intermet Corp. 43,100 334 International Aluminum Corp. 13,400 323 * International Cabletel, Inc. 33,800 701 * International Dairy Queen, Inc. Class A 30,400 509 * International Family Entertainment 25,100 414 International Multifoods Corp. 27,700 440 * International Rectifier Corp. 49,200 738 International Shipholding Corp. 22,200 444 * International Technology 210,600 579 * Interpool, Inc. 31,700 365 Interstate Bakeries 26,300 329 Interstate Power Co. 11,200 249 Intervoice, Inc. 53,600 375 * Intuit, Inc. 12,000 401 Invacare Corp. 17,500 473 * Ionics, Inc. 11,200 491 Iowa-Illinois Gas & Electric Co. 33,000 677 Irvine Apartment Communities, Inc. 31,000 620 Irwin Financial Corp. 17,400 394 * ISIS Pharmaceutical, Inc. 42,500 279 JSB Financial 15,800 389 * Jacobs Engineering Group Inc. 20,800 426 * Jan Bell Marketing Inc. 30,300 197 Jefferson Bankshares, Inc. 18,900 434 John Alden Financial Group 10,900 376 * Johnson Worldwide Associates, Inc. 9,900 249 * Johnstown America Industries 27,400 565 * Joy Technologies, Inc. 58,400 569 Juno Lighting, Inc. 25,300 487 Justin Industries, Inc. 40,450 490 KN Energy, Inc. 20,900 465 * Kaiser Aluminum & Chemical Corp. 23,500 226 Kansas City Life Insurance Co. 12,030 529 Katy Industries, Inc. 24,100 593 Kaufman & Broad Home Corp. 29,900 400 Kaydon Corp. 25,000 531 * Keane, Inc. 8,700 301 * Kelly Oil Corp. 46,900 334 Kellwood Co. 30,450 651 * Kemet Corp. 28,070 474 * Kenetech Corp. 40,000 725 Kennametal, Inc. 18,000 887 * Kent Electronics Corp. 15,900 485 Keystone Financial, Inc. 26,650 846 Kimball International, Inc. Class B 16,000 366 * Kinder Care Learning Centers Inc. 800 11 Kinetic Concepts, Inc. 57,200 204 * Kirby Corp. 40,900 670 * Knowledgeware, Inc. 23,900 128 * Komag, Inc. 18,800 345 Kranzco Realty Trust 29,000 613 * The Krystal Co. 31,600 352 Kuhlman Corp. 13,900 205 Kysor Industrial Corp. 20,900 368 LCI International, Inc. 15,600 505 * LDDS Communications, Inc. 300 5 La Quinta Inns Inc. 7,550 197 La-Z-Boy Chair Co. 18,800 498 Laclede Gas Co. 21,600 473 Ladd Furniture, Inc. 58,900 398 * Lady Luck Gaming Corp. 25,000 181 * Lamson & Sessions Co. 48,500 382 Lance, Inc. 800 14 * Landair Sevices, Inc. 15,000 266 Landauer, Inc. 35,500 488 * Landmark Graphics Corp. 22,100 674 Lands' End, Inc. 4,800 83 * Landstar System 24,700 716 Lattice Semiconductor Corp. 25,900 486 Lawson Products, Inc. 14,900 346 Lawter International Inc. 30,666 360 * Lechters Corp. 37,500 520 Legg Mason Inc. 29,700 561 Lennar Corp. 29,950 565 Lesco, Inc. 26,200 422 * Level One Communications, Inc. 20,900 376 * Levitz Furniture, Inc. 29,300 319 Liberty Bankcorp Inc. 17,800 554 Liberty Corp. 23,900 654 Lifetime Hoan Corp. 6,750 78 Life Re Corp. 18,300 366 Life Technologies, Inc. 25,300 471 Lilly Industries Inc. Class A 31,650 447 Lincare Holdings Inc. 28,100 551 Lincoln Telecommunications Co. 34,200 517 * Lindsay Manufacturing Co. 17,425 512 * Liposome Co., Inc. 73,400 417 Liqui-Box Corp. 17,200 611 * Living Centers of America, Inc. 25,600 736 * Lone Star Industries, Inc. 6,000 90 * Lone Star Steakhouse & Saloon 20,800 367 * Lottery Enterprises, Inc. 13,500 145 Luby's Cafeterias, Inc. 25,600 576 Lufkin Industries 14,414 281
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Market Value Shares (000)+ - - --------------------------------------------------------------- Lukens, Inc. 14,100 $ 462 * MAF Bancorp, Inc. 20,800 471 * M/A-Com, Inc. 64,800 518 * MB Communications, Inc. 15,800 158 MDU Resources Group, Inc. 26,250 702 MGI Properties, Inc. 35,000 512 * MK Gold Co. 5,000 26 MTS Systems Corp. 17,100 492 * MacFrugal's Bargains Close-Outs, Inc. 43,100 749 MacDermid, Inc. 50 1 The MacNeal-Schwendler Corp. 31,700 444 * Macromedia Inc. 8,000 68 Madison Gas & Electric Co. 14,750 490 Magna Group 36,400 698 * Magnatek 24,700 358 Manitowoc Co., Inc. 12,900 321 Manufactured Home Communities, Inc. 22,900 475 * Marcam Corp. 6,300 72 Margaretten Financial Corp. 48,600 1,215 * Marine Drilling Co., Inc. 65,100 382 Mark Twain Bancshares, Inc. 20,550 591 Marshall Industries 25,600 563 Maryland Federal Bancorp 13,600 367 * Maxtor Corp. 68,600 339 * Maxus Energy Corp. 174,131 871 Maybelline, Inc. 21,593 597 McArthur/Glen Realty Corp. 19,100 332 McDonald and Co. Investments, Inc. 33,160 423 * McWorter Technologies Inc. 9,850 151 Measurex Corp. 13,200 234 * Medaphis Corp. 22,800 638 * Medco Research, Inc. 33,800 469 Media General, Inc. Class A 20,700 551 * Medic Computer Systems, Inc. 31,300 462 * Medical Care America 200 5 * Medimmune Inc. 28,600 247 * MEDSTAT Group, Inc. 29,810 395 Medusa Corp. 27,550 675 Mentor Corp. 24,800 378 Mentor Graphics Corp. 68,800 718 Merchants New York Bancorp 4,800 247 Meredith Corp. 16,000 680 * Merisel, Inc. 36,000 311 Merrill Corp. 25,000 556 Merry-Go-Round Enterprises, Inc. 1,900 4 Merry Land & Investment Co., Inc. 22,600 458 * Mesa Airlines, Inc. 34,300 343 * Mesa, Inc. 109,000 613 * Metricom 34,200 522 Metropolitan Financial Corp. 46,698 735 * Microchip Technology, Inc. 20,300 718 Mid Am Inc. 31,585 462 Mid-American Waste Systems, Inc. 40,100 226 Mid-America Bancorp 23,896 439 Midland Co. 11,300 401 * Midland Financial Group, Inc. 22,000 462 Midwest Grain Products 13,800 497 Herman Miller, Inc. 34,300 892 Mills Corp. 16,200 365 Mine Safety Appliances Co. 12,100 493 Minerals Technologies, Inc. 22,100 641 * Mobile Telecommunications Technologies Corp. 40,300 730 * Mohawk Industries, Inc. 27,600 490 * Molecular Biosystems, Inc. 32,500 358 * Molten Metal Technology 32,800 599 The Money Store 19,200 326 Monk Austin, Inc. 100 1 Morrison-Knudsen Co., Inc. 40,400 869 Mosinee Paper Corp. 9,000 284 * Mueller Industries Inc. 16,400 478 * Multicare Cos., Inc. 5,400 92 * Musicland Stores Corp. 37,400 598 * Mutual Assurance Inc. 15,725 318 NAC Re Corp. 14,750 435 NBB Bancorp, Inc. 13,300 625 NBSC Corp. 11,200 273 * N L Industries, Inc. 89,000 757 NN Ball & Roller, Inc. 21,900 386 N.S. Bancorp Inc. 24,100 711 NYMAGIC, Inc. 19,200 389 * Nabors Industries, Inc. 93,400 689 NACCO Industries, Inc. Class A 11,100 597 * Namic U.S.A. Corp. 10,800 86 Nash-Finch Co. 32,500 553 Nashua Corp. 20,700 528 National Bankcorp of Alaska Inc. 9,700 534 National Community Bancorp 22,650 498 National Computer Systems, Inc. 24,500 285 National Data Corp. 35,100 601 * National Education Corp. 101,500 571 National Health Investors REIT 7,900 215 National Penn Bancshares Inc. 6,854 247 National Pizza Corp. Class A 38,600 251 National Presto Industries, Inc. 14,600 591 National Re Holdings Corp. 13,350 345 * National Steel Corp. Class B 41,900 649 * National Western Life Insurance Co. Class A 8,600 313 * Navigators Group, Inc. 25,000 428 Nature's Sunshine Inc. 28,080 379
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Market Value Shares (000)+ - - --------------------------------------------------------------- * Nautica Enterprises 26,905 $ 649 * Nellcor Inc. 24,700 655 * Netframe Systems Inc. 46,900 422 * Network Equipment Technologies 38,900 336 * Network General Corp. 28,000 441 * Network Systems Corp. 48,000 318 Neutrogena Corp. 31,800 616 New England Business Service, Inc. 21,800 414 New Jersey Resources Corp. 24,300 535 New York Bancorp Inc. 24,200 523 * Newfield Exploration Co. 10,600 240 * Noble Drilling Corp. 66,800 526 * Nortek, Inc. 19,708 185 North American Mortgage 21,700 521 North Carolina Natural Gas Corp. 18,711 423 Northwest Natural Gas Co. 19,300 574 Northwestern Public Service Co. 20,700 569 * Nu-Kote Holding, Inc. Class A 21,000 357 * Novellus Systems, Inc. 23,100 797 OEA, Inc. 20,800 577 * OHM Corp. 43,000 457 OMI Corp. 67,200 403 * Oak Industries, Inc. 24,300 483 Oakwood Homes Corp. 29,800 700 * Oceaneering International, Inc. 34,200 479 * Octel Communications Corp. 31,200 523 * Ogden Projects, Inc. 300 5 Oil-Dri Corp. of America 13,275 264 * Old Dominion Freight Line, Inc. 18,236 358 Old National Bancorp 23,919 867 * Omega Environmental, Inc. 71,000 404 Onbancorp Inc. 22,900 690 One Valley Bancorp of West Virginia Inc. 19,000 539 * Onecomm Corp. 17,000 346 Oneida Ltd. 21,690 306 Oneok, Inc. 23,400 401 * Optical Radiation Corp. 21,000 480 Orange & Rockland Utilities, Inc. 12,600 394 * Orbital Sciences Corp. 37,200 595 * Organogenesis, Inc. 46,400 574 Oregon Steel Mills, Inc. 23,600 451 Orion Capital Corp. 21,225 724 O'Sullivan Corp. 27,500 261 Otter Tail Power Co. 15,400 485 Outboard Marine Corp. 28,700 574 Owens & Minor Inc. Holding Co. 43,237 643 PHH Corp. 18,500 659 Pacific Physician Services, Inc. 36,200 462 Pacific Scientific Co. 21,900 567 * Paragon Trade Brands, Inc. 3,800 110 * Parker Drilling Co. 84,400 506 * Payless Cashways, Inc. 58,100 784 * Pec Israel Economic Corp. 21,500 503 * The Penn Traffic Co. 11,500 405 Penn Virginia Corp. 14,200 458 Penncorp Financial Group Inc. 15,900 278 Pennsylvania Real Estate Investment Trust 21,100 485 Pentair, Inc. 26,350 949 Penwest Ltd. 19,250 433 Peoples Telephone Co., Inc. 67,250 391 Petroleum Heat & Power Co. 2,200 16 Petroleum Heat & Power Co. Class B 33,300 616 Petrolite Corp. 17,200 535 Phoenix Resource Cos., Inc. 5,700 150 * Phycor, Inc. 23,700 788 Piccadilly Cafeterias, Inc. 24,600 240 * Picturetel Inc. 31,100 391 Piedmont Natural Gas, Inc. 38,623 782 Pier 1 Imports Inc. 52,500 400 * Pillowtex Designs Corp. 25,000 350 Pioneer Group Inc. 15,200 549 Piper Jaffray Cos. Inc. 34,600 433 Pitt Des Moines, Inc. 3,500 95 Pittway Corp. Class A 12,200 424 Plains Petroleum Co. 25,000 534 * Platinum Technology, Inc. 44,400 572 * Players International, Inc. 18,200 271 * Playtex Products, Inc. 31,800 266 * Plexus Corp. 17,500 208 Ply-Gem Industries, Inc. 28,800 594 * Pogo Producing Co. 11,500 266 Pope & Talbot, Inc. 16,300 293 Post Properties, Inc. 21,200 665 * Powell Industries, Inc. 33,500 203 * Powersoft Corp. 12,400 601 Precision Castparts Corp. 17,800 565 Preferred Entertainment, Inc. 17,400 276 Premier Bancshares Corp. 16,000 288 President Riverboat Casinos, Inc. 600 4 * Premier Bancorp, Inc. 39,390 689 * Primedex Health Systems Inc. 157,950 217 * Primark Corp. 29,500 332 * Proffitt's, Inc. 28,900 545 * Progress Software Corp. 15,100 464 Protective Life Corp. 17,400 700 * Protein Design Labs 37,200 684 Provident Bancorp Inc. 15,100 487 * Public Service Co. of New Mexico 60,600 697 Pulitzer Publishing Co. 11,670 413 Pulte Corp. 18,900 435 Puritan-Bennett Corp. 14,700 292
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Market Value Shares (000)+ - - --------------------------------------------------------------- * Pyramid Technology Corp. 36,100 $ 212 Pyxis Corp. 32,700 625 Quaker Chemical Corp. 7,200 131 Quaker State Corp. 40,100 561 Quality Food Centers Inc. 3,100 70 Quanex Corp. 12,100 231 * Quantum Health Resources, Inc. 19,300 608 Quixote Corp. 30,300 610 RFS Hotel Investors, Inc. 24,900 436 * RPC Energy Services 43,000 355 RPS Realty Trust 39,500 168 * Railtex, Inc. 8,000 174 * Ralcorp Holdings Inc. 28,700 456 * Ralston-Continental Baking 800 4 * Read-Right Corp. 50,900 659 Real Estate Investment Trust of California 29,800 503 * Recognition International Inc. 52,200 437 * Redman Industries, Inc. 6,600 106 Regal-Beloit Corp. 23,500 629 Regional Acceptance Corp. 24,400 412 Reinsurance Group of America, Inc. 14,500 386 Reliance Group Holdings 63,500 341 * ReLife Inc. Class A 17,900 264 * Ren Corp. 46,400 406 * Renaissance Communications Corp. 16,400 377 Resource Mortgage Capital Corp. 27,700 661 * Respironics, Inc. 27,000 466 * Revco Inc. Rights Exp. 7/7/94 14,365 27 Richardson Electronics, Ltd. 6,700 28 Richfood Holdings, Inc. 45,100 677 * Riggs National Corp. 47,500 422 Rival Manufacturing Co. 30,700 635 River Forest Bancorp, Inc. 10,000 356 Robbins & Myers, Inc. 20,900 408 Robert Half International, Inc. 12,400 501 * Roberts Pharmaceuticals 13,100 269 * Rochester Community Savings Bank 41,000 789 Rock-Tenn Co. 23,900 400 Rollins Environmental Services, Inc. 84,437 401 Rollins Truck Leasing 36,550 612 Roper Industries Inc. 14,600 370 Ross Stores, Inc. 35,200 513 Rouge Steel Co. Class A 14,500 390 * Rowan Cos., Inc. 84,800 742 * Royal Appliance Manufacturing Co. 98,900 383 Ruddick Corp. 24,600 403 Russ Berrie, Inc. 38,300 584 * Ryan's Family Steak Houses, Inc. 74,600 532 * Rykoff-Sexton, Inc. 15,800 296 Ryland Group, Inc. 21,800 382 * SCI Systems, Inc. 39,300 592 SCOR U.S. Corp. 16,000 176 SEI Corp. 25,400 464 SFFED Corp. 31,600 683 SLM International, Inc. 29,800 328 SPI Pharmaceuticals 34,320 541 SPS Technologies, Inc. 14,900 380 SPX Corp. 11,800 183 Safecard Services, Inc. 33,800 579 * Safety First Inc. 16,500 363 St. Joseph Light & Power Co. 16,900 452 St. Mary Land & Exploration Co. 28,800 346 Saint Paul Bancorp, Inc. 29,250 644 * Salick Health Care, Inc. 22,400 325 Saul Centers, Inc. 33,300 587 Savannah Foods & Industries, Inc. 36,700 436 Sbarro, Inc. 10,200 380 * Scherer Health 13,600 296 * Scholastic Corp. 18,600 695 * Sci-Med Life Systems, Inc. 15,100 395 * Sciclone Pharmaceuticals 26,700 189 * Scios Nova, Inc. 56,714 365 Scotsman Industries, Inc. 30,400 407 * Scotts Co. 26,200 429 Seafield Capital Corp. 17,000 638 * Sealed Air Corp. 29,000 805 Sealright Co. 15,800 247 * Security Capital Corp. 12,000 543 * Security Capital Industrial Trust 37,300 639 Security Connecticut Corp. 26,500 603 Selective Insurance Group 20,400 515 * Sepracor Inc. 68,800 374 Sequa Corp. Class A 20,500 605 * Sequent Computer Systems, Inc. 42,700 584 Shared Medical Systems Corp. 29,800 721 * Shoe Carnival, Inc. 43,500 424 Shopko Stores, Inc. 58,400 584 * Shorewood Packaging 45,000 849 * Show Biz Pizza Time, Inc. 16,500 184 * Sierra Health Services 22,400 526 Sierra Pacific Resources 42,900 804 * Silicon Valley Group, Inc. 54,600 635 Simpson Industries, Inc. 29,800 544 Sizzler International 23,400 137 Skyline Corp. 28,900 535 Skywest, Inc. 14,400 371 A.O. Smith Corp. 15,800 403 * Smith International, Inc. 57,700 880 * Smithfield Foods, Inc. 32,600 917 Smiths Food & Drug Center, Inc. Class B 21,800 411 J.M. Smucker Co. Class A 28,600 672
49 77
Market Value Shares (000)+ - - --------------------------------------------------------------- Snyder Oil Corp. 26,800 $ 513 * Sodak Gaming, Inc. 26,700 307 * Sofamor/Danek Group Inc. 3,600 47 Sonat Offshore Drilling Co. 16,800 328 * Sonic Corp. 24,000 462 South Jersey Industries, Inc. 28,236 508 * Southdown, Inc. 25,200 529 Southern California Water Co. 26,700 501 Southern Indiana Gas & Electric 23,133 636 Southern National Corp. 4,302 86 Southwest Gas Corp. 29,600 533 Southwestern Energy Co. 35,800 618 * Southwestern Life Corp. 109,100 573 Sovereign Bancorp, Inc. 47,690 513 * Spacelabs Medical 30,100 632 Spartan Motors, Inc. 29,100 366 * Spectrum Information Technologies, Inc. 84,500 132 Spelling Entertainment 58,400 496 * Spieker Properties 17,500 385 * Sportmart Inc. 2,700 43 * Sports & Recreation 19,600 728 Springs Industries Inc. Class A 11,800 353 Standard Commercial Tobacco Co. 12,200 192 Standard Motor Products, Inc. 10,000 178 Standard Products Co. 24,725 723 The Standard Register Co. 30,200 642 Standex International Corp. 18,900 496 Stanhome, Inc. 28,700 947 L. S. Starrett Co. Class A 13,400 288 Steel Technologies, Inc. 29,150 481 * Stein Mart, Inc. 27,550 472 Sterling Chemicals, Inc. 44,200 414 * Steris Corp. 28,400 550 * Sterling Software, Inc. 24,396 732 Stewart Enterprises, Inc. Class A 30,650 667 Stone & Webster, Inc. 20,500 671 * Stone Container Corp. 36,125 528 * Storage USA, Inc. 1,000 27 Storage Equities, Inc. 42,700 662 Strawbridge & Clothier Class A 12,057 241 * Structural Dynamics Research Corp. 40,700 402 Sumitomo Bank of California 10,584 245 Summit Bancorp 37,400 804 Summit Properties, Inc. 31,900 638 * Summit Technology, Inc. 23,700 640 Sun Television & Appliances 27,200 235 * Sungard Data Systems 27,800 1,015 * Sunshine Mining Co. 228,600 429 Super Food Services, Inc. 42,300 502 * Sunrise Medical, Inc. 21,700 475 Surgical Care Affiliates, Inc. 31,300 415 Swift Transportation Co., Inc. 13,500 435 * Swing-n-Slide Corp. 44,000 435 * Symantec Corp. 43,800 465 * Symbol Technologies, Inc. 28,700 718 * Syncor International Corp. 22,500 208 * Synergen, Inc. 35,250 282 * Synopsys, Inc. 19,300 726 * Syratech Inc. 18,400 306 System Software Associates, Inc. 29,100 393 * Systems & Computer Technology Corp. 42,000 643 * TBC Corp. 39,800 463 TCA Cable Television, Inc. 21,700 488 TCF Financial Corp. 18,200 617 TJ International, Inc. 20,400 393 TNP Enterprises, Inc. 37,900 569 TNT Freightways 24,800 577 * T R Financial Corp. 8,000 117 T Squared Medical 59,000 612 * Takecare, Inc. 12,600 967 * Tandycrafts, Inc. 31,100 420 * Tatham Offshore, Inc. 22,000 334 Taubman Co. 31,100 358 Tech Data Corp. 46,600 781 * Tech-Sym Corp. 18,449 378 * Tecnol Medical Products Inc. 42,300 582 * Telco Systems, Inc. 40,000 475 * Tejas Gas Corp. 9,600 461 * Tejas Power Corp. Class A 17,200 176 Tejon Ranch Co. 18,600 253 Teleflex Inc. 21,750 710 * Telios Pharmaceutical, Inc. 89,500 324 Telxon Corp. 49,200 787 Tennant Co. 3,900 167 Terra Industries, Inc. 93,500 725 * Tesoro Petroleum Corp. 57,500 625 * Tetra Technologies Inc. 52,900 450 Texas Industries, Inc. 12,660 426 * Theratech, Inc. 29,000 366 Thermo Cardiosystems Inc. 40,000 800 * Thermo Process Systems 33,000 268 Thermo Remediation, Inc. 5,000 69 Thermedics, Inc. 46,400 679 Thiokol Corp. 27,700 668 Tiffany & Co. 19,250 667 * Timberland Co. 13,700 555 * Tokheim Corp. 11,200 129 * Toll Brothers, Inc. 32,800 418 Tootsie Roll Industries, Inc. 10,349 612 The Topps Co., Inc. 54,425 388 The Toro Co. 11,300 268 Total System Services, Inc. 20,400 413
50 78
Market Value Shares (000)+ - - --------------------------------------------------------------- * Tracor, Inc. 33,959 $ 255 * Trans World Music Corp. 12,100 133 Transco Energy Co. 58,500 951 Trenwick Group Inc. 13,800 555 * Triarc Cos. Inc. 27,500 454 * Trimble Navigation Ltd. 35,900 343 Trinet Corporate Realty Trust 14,000 396 * Tripos Inc. 8,333 48 The Trust Company of New Jersey 47,600 589 Trustco Bank 27,736 631 Trustmark Corp. 31,100 564 * Tucson Electric Power Co. 222,600 668 Tultex Corp. 104,000 481 Tyco Toys, Inc. 49,300 345 UMB Financial Corp. 20,427 682 * UNC, Inc. 73,100 402 UNR Industries, Inc. 51,900 282 * USG Corp. 38,100 691 USLICO Corp. 16,800 311 Union Planters Corp. 29,184 781 * Union Switch & Signal, Inc. 23,400 430 United Bankshares, Inc. 15,500 393 United Carolina Bancshare Corp. 19,000 444 United Cities Gas Co. 26,594 419 United Cos. Finance Corp. 15,410 632 United Dominion Realty 60,500 847 United Fire & Casualty Co. 10,100 417 United Illuminating Co. 15,050 495 * United Insurance Cos., Inc. 19,900 527 * United International Holdings, Inc. Class A 36,200 498 * United Meridian Corp. 21,600 324 United National Bancorp 7,400 257 * United Retail 30,500 221 * USAir Group, Inc. 62,300 397 * U.S. Bioscience 76,700 518 * U.S. Long Distance Corp. 35,600 363 * U.S. Robotics, Inc. 21,300 575 U.S. Shoe Corp. 100 2 United States Trust Corp. 11,400 580 United Water Resources, Inc. 51,768 667 United Wisconsin 13,500 378 Univar Corp. 28,400 284 Universal Corp. 38,200 745 * Universal Health Services Class B 25,500 666 * VLSI Technology, Inc. 50,000 688 Valassis Communication 41,900 676 Valhi, Inc. 41,500 213 Valmont Industries, Inc. 25,200 381 * Value City Department Stores, Inc. 28,300 379 Value Line, Inc. 12,000 399 * Varco International, Inc. 86,600 585 Varlen Corp. 15,650 315 * Vencor, Inc. 21,800 752 * Ventritex Inc. 29,000 537 Venture Stores, Inc. 24,800 490 * VeriFone, Inc. 23,050 357 * Vertex Pharmaceuticals, Inc. 21,400 254 * Vicor Corp. 21,900 413 * Vicorp Restaurants, Inc. 24,000 348 Victoria Bank 19,500 524 * Viewlogic Systems, Inc. 21,600 338 Vigoro Corp. 17,300 487 Viratek, Inc. 33,075 281 * Vital Signs, Inc. 20,200 197 Vivra, Inc. 28,875 693 * Vivus, Inc. 5,000 68 * Vmark Software 29,100 509 WD-40 Co. 9,250 370 * WMS Industries, Inc. 16,750 318 * Waban, Inc. 48,800 811 Wabash National Corp. 15,400 689 Wackenhut Corp. 2,500 37 * Wainoco Oil Corp. 119,000 565 * Wall Data Inc. 8,600 335 Wallace Computer Services, Inc. 4,500 144 * Wang Laboratories, Inc. 27,400 310 Washington Energy Co. 33,685 497 Washington National Corp. 18,705 397 Washington Real Estate Investment Trust 41,950 813 * Weatherford International, Inc. 73,000 986 Del E. Webb Corp. 28,696 452 * Webco Industries, Inc. 7,700 116 * Welbilt Corp. 11,100 222 West Co., Inc. 26,300 569 * West Marine Inc. 2,500 54 Westcott Communications 23,600 224 Western Bank 14,665 235 * Western Digital Corp. 62,800 801 Western Investment Real Estate Trust 53,700 752 * Western Publishing Group, Inc. 37,800 447 * Western Waste Industries 36,200 724 * Westpoint Stevens, Inc. 23,600 325 Wheatly TXT Corp. 34,000 487 * White River 12,026 394 Whitney Holdings 24,050 631 * Whittaker Corp. 32,900 494 Wicor, Inc. 23,600 699 Williams Sonoma, Inc. 18,375 558 Windmere Corp. 53,700 530 * Winnebago Industries, Inc. 52,200 457
51 79
Market Value Shares (000)+ - - --------------------------------------------------------------- Wisconsin Central Transportation Corp. 12,000 $ 774 Wiser Oil Co. 29,800 477 Wolohan Lumber Co. 31,290 438 Woodhead Industries, Inc. 32,000 480 Worthen Banking Corp. 11,300 329 Wyle Laboratories 22,700 380 * Wyman Gordon Corp. 54,900 333 Yellow Corp. 24,100 416 York Financial Corp. 10,010 203 * Zale Corp. 27,500 249 * Zebra Technologies Class A 14,100 453 * Zenith Electronics Corp. 38,900 345 Zenith Laboratories 40,200 548 Zenith National Insurance Corp. 21,200 490 Zero Corp. 50,500 625 * Zilog Inc. 26,150 847 Zions Bancorp. 17,400 703 Zurn Industries, Inc. 17,300 350 - - --------------------------------------------------------------- TOTAL COMMON STOCKS (98.4%)(1) (Cost $508,023) 527,949 - - --------------------------------------------------------------- TEMPORARY CASH INVESTMENTS (1.2%) - - ---------------------------------------------------------------
Face Amount (000) ----------- U.S. TREASURY BILL--Note D 4.26%, 9/22/94 $ 400 396 REPURCHASE AGREEMENT Collateralized by U.S. Government Obligations in a Pooled Cash Account 4.26%, 7/1/94 6,100 6,100 - - --------------------------------------------------------------- TOTAL TEMPORARY CASH INVESTMENTS (Cost $6,496) 6,496 - - --------------------------------------------------------------- TOTAL INVESTMENTS (99.6%) (Cost $514,519) 534,445 - - ---------------------------------------------------------------
Market Value (000)+ - - --------------------------------------------------------------- OTHER ASSETS AND LIABILITIES (.4%) - - --------------------------------------------------------------- Receivables for Securities Sold $ 65,245 Other Assets--Notes B and E 22,316 Payables for Securities Purchased (63,999) Other Liabilities--Note E (21,508) ----------- 2,054 - - --------------------------------------------------------------- NET ASSETS (100%) - - --------------------------------------------------------------- Applicable to 36,143,666 outstanding shares of beneficial interest (unlimited authorization) $536,499 - - --------------------------------------------------------------- NET ASSET VALUE PER SHARE $14.84 ===============================================================
+ See Note A to Financial Statements. (1) The combined market value of common stocks, New York Stock Exchange Composite Index, Standard & Poor's Midcap 400 Index, Russell 2000 Index, and Standard & Poor's 500 Index futures contracts represents 99.8% of net assets. * Non-Income Producing Security.
- - --------------------------------------------------------------- AT JUNE 30, 1994, NET ASSETS CONSISTED OF: - - --------------------------------------------------------------- Amount Per (000) Share -------- ------- Paid in Capital $501,416 $13.87 Undistributed Net Investment Income 3,115 .09 Accumulated Net Realized Gains 12,354 .34 Unrealized Appreciation of Investments--Note D 19,614 .54 - - --------------------------------------------------------------- NET ASSETS $536,499 $14.84 - - ---------------------------------------------------------------
52 80 THE VANGUARD FAMILY OF FUNDS MONEY MARKET FUNDS Vanguard Money Market Reserves TAX-EXEMPT MONEY MARKET FUNDS Vanguard Municipal Bond Fund-Money Market Portfolio Vanguard State Tax-Free Funds (CA, NJ, OH, PA) TAX-EXEMPT INCOME FUNDS Vanguard Municipal Bond Fund Vanguard State Tax-Free Funds (CA, FL, NJ, NY, OH, PA) FIXED INCOME FUNDS Vanguard Admiral Funds Vanguard Bond Index Fund Vanguard Fixed Income Securities Fund Vanguard Preferred Stock Fund BALANCED FUNDS Vanguard Asset Allocation Fund Vanguard Balanced Index Fund Vanguard STAR Fund Vanguard/Wellesley Income Fund Vanguard/Wellington Fund EQUITY FUNDS GROWTH AND INCOME FUNDS Vanguard Convertible Securities Fund Vanguard Equity Income Fund Vanguard Index Trust Vanguard Quantitative Portfolios Vanguard/Trustees' Equity Fund-U.S. Portfolio Vanguard/Windsor Fund Vanguard/Windsor II GROWTH FUNDS Vanguard/Morgan Growth Fund Vanguard/PRIMECAP Fund Vanguard U.S. Growth Portfolio AGGRESSIVE GROWTH FUNDS Vanguard Explorer Fund Vanguard Specialized Portfolios INTERNATIONAL FUNDS Vanguard International Equity Index Fund Vanguard International Growth Portfolio Vanguard/Trustees' Equity Fund-International Portfolio The Vanguard Group * Vanguard Financial Center Valley Forge, PA 19482 New Account Information: 1-(800) 662-7447 Shareholder Account Services: 1-(800) 662-2739 This Report has been prepared for shareholders and may be distributed to others only if preceded or accompanied by a current prospectus. All Funds in the Vanguard Family are offered by prospectus only. Q402-06/94 (VANGUARD INDEX TRUST) [PHOTO -- SEE EDGAR APPENDIX] SEMI-ANNUAL REPORT JUNE 30, 1994 28 81 EDGAR APPENDIX The back cover of the printed version of this report features the flags of the United States of America and Vanguard flying from a halyard. -----END PRIVACY-ENHANCED MESSAGE-----