13F-HR 1 rpt_13f0301.txt Main Page (1) TYPE 13F-HR PERIOD 03/31/01 FILER CIK 0000051879 CCC 7eokwaz# SUBMISSION-CONTACT NAME Jill Stevenson PHONE 612-376-2862 Attached Documents Page (2) FORM 13F FORM 13f COVER PAGE Report for the Calendar Year or Quarter Ended: March 31, 2001 Check here if Amendment [ ]; Amendment Number: This Amendment (Check only one.): [ ] is a restatement. [ ] adds new holdings entries. Institutional Investment Manager Filing this Report: Name: Paladin Investment Associates, LLC Address: 601 2nd Avenue South Minneapolis, MN 55440 13F File Number: 028-00069 The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements schedules, lists, and tables, are considered integral parts of this submission. Person signing this Report on Behalf of Reporting Manager: Name: Jill Stevenson Title: Vice President, Director of Operations Phone: 612-376-2862 Signature, Place, and Date of Signing: Jill Stevenson Minneapolis, Minnesota 4/3/2001 Report Type (Check only one.): [X] 13F HOLDINGS REPORT. [ ] 13F NOTICE. [ ] 13F COMBINATION REPORT. List of Other Managers Reporting for this Manager: Report Summary: Number of Other Included Managers: 0 Form 13F Information Table Entry Total: 272 Form 13F Information Table Value Total: $450,146 List of Other Included Managers: None No. 13F File Number Name VALUE VALUE SHARES/ SH/ PUT/ INVSTMT OTHER NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE 99 CENTS ONLY STORES Common Stock 65440K106 3308 143156 SH SOLE 101084 33223 ABBOTT LABS Common Stock 002824100 1335 28300 SH SOLE 21000 7300 ABERCROMBIE & FITCH CO -CL A Common Stock 002896207 2392 73150 SH SOLE 19750 53400 ADC TELECOMMUNICATIONS INC Common Stock 000886101 2105 247600 SH SOLE 84200 163400 ADEPT TECHNOLOGY INC Common Stock 006854103 1968 140600 SH SOLE 98900 33200 ADVANCED ENERGY INDUSTRIES Common Stock 007973100 1789 69325 SH SOLE 48925 16100 AEROFLEX INC Common Stock 007768104 1486 144100 SH SOLE 101950 33550 AES CORP Common Stock 00130H105 1468 29380 SH SOLE 29380 AFC ENTERPRISES Common Stock 00104Q107 2094 108800 SH SOLE 76850 25250 AFFILIATED MANAGERS GROUP, INCCommon Stock 008252108 3126 66500 SH SOLE 47700 14800 ALAMOSA HOLDINGS INC Common Stock 011593100 1430 135400 SH SOLE 95300 32200 ALBANY MOLECULAR RESEARCH Common Stock 012423109 1348 38500 SH SOLE 27150 9000 ALBERTO-CULVER CO Common Stock 013068101 278 7000 SH SOLE 7000 ALCOA INC Common Stock 013817101 288 8000 SH SOLE 8000 ALLIANCE CAP MGMT L P Common Stock 01855A101 589 14300 SH SOLE 8000 6300 ALLIANT TECHSYSTEMS INC Common Stock 018804104 354 4000 SH SOLE 4000 ALLIANZ AG - ADR Common Stock 018805101 263 9000 SH SOLE 9000 AMDOCS LTD Common Stock G02602103 5200 108550 SH SOLE 51450 21500 AMERICAN EAGLE OUTFITTERS Common Stock 02553E106 3266 113600 SH SOLE 30700 82900 AMERICAN HOME PRODUCTS CORP Common Stock 026609107 4395 74805 SH SOLE 47355 AMERICAN INTL GROUP INC Common Stock 026874107 1147 14244 SH SOLE 14244 ANALOG DEVICES INC Common Stock 032654105 2107 58135 SH SOLE 35235 ANHEUSER-BUSCH COS INC Common Stock 035229103 684 14900 SH SOLE 7100 7800 AOL TIME WARNER INC Common Stock 00184A105 6081 151446 SH SOLE 95771 APOGENT TECHNOLOGIES INC Common Stock 03760A101 2222 109800 SH SOLE 29600 80200 APOLLO GROUP INC CLASS A Common Stock 037604105 3627 110550 SH SOLE 29850 80700 APPLIED MOLECULAR EVOLUTION Common Stock 03823E108 742 70700 SH SOLE 49900 16600 ART TECHNOLOGY GROUP INC Common Stock 04289L107 747 62250 SH SOLE 44100 14550 ASTRAZENECA PLC - SPON ADR Common Stock 046353108 497 10300 SH SOLE 10300 ATLAS AIR WORLDWIDE HLDGS INC Common Stock 049164106 2184 77600 SH SOLE 54700 18400 AUGUST TECHNOLOGY CORP Common Stock 05106U105 2625 246350 SH SOLE 173500 58250 AVENTIS - ADR 1/4 Common Stock 053561106 330 4300 SH SOLE 4300 AVOCENT CORPORATION Common Stock 053893103 4267 195600 SH SOLE 114700 72200 AXA - SPON ADR Common Stock 054536107 246 4500 SH SOLE 4500 AXT INC. Common Stock 00246W103 1799 119900 SH SOLE 84400 28200 BAKER HUGHES INC Common Stock 057224107 625 17200 SH SOLE 11500 5700 BANCO BILBAO VIZCAYA - ADR Common Stock 05946K101 198 14700 SH SOLE 14700 BANCO SANTANDER CENT - ADR Common Stock 05964H105 174 19200 SH SOLE 19200 BANK OF AMERICA CORP Common Stock 060505104 1608 29370 SH SOLE 29370 BANK TOKYO MITSUBISHI - ADR Common Stock 065379109 282 29400 SH SOLE 29400 BARCLAYS PLC/ENGLAND - ADR Common Stock 06738E204 252 2000 SH SOLE 2000 BAXTER INTERNATIONAL INC Common Stock 071813109 2981 31670 SH SOLE 25470 6200 BED BATH & BEYOND INC Common Stock 075896100 3318 135100 SH SOLE 36500 98600 BELLSOUTH CORP Common Stock 079860102 270 6600 SH SOLE 6600 BIOGEN INC Common Stock 090597105 665 10500 SH SOLE 2800 7700 BIOMET INC Common Stock 090613100 3352 85100 SH SOLE 23000 62100 BJ SERVICES CO Common Stock 055482103 3560 50000 SH SOLE 13500 36500 BLACK AND DECKER CORP Common Stock 091797100 239 6500 SH SOLE 6500 BOSTON PRIVATE FINL HOLDING Common Stock 101119105 4106 231300 SH SOLE 163000 54700 BP AMOCO PLC - ADS Common Stock 055622104 973 19600 SH SOLE 19600 BRINKER INTERNATIONAL INC Common Stock 109641100 209 7500 SH SOLE 7500 BRITISH TELECOM PLC - ADR Common Stock 111021408 223 3000 SH SOLE 3000 BUCA INC. Common Stock 117769109 3564 191400 SH SOLE 135150 44450 C.H. ROBINSON WORLDWIDE INC Common Stock 12541W100 246 9000 SH SOLE 9000 CABOT OIL & GAS CORP CL A Common Stock 127097103 219 8100 SH SOLE 8100 CALIFORNIA PIZZA KITCHEN INC Common Stock 13054D109 1464 51600 SH SOLE 36250 12250 CALPINE CORP Common Stock 131347106 4017 72950 SH SOLE 24050 48900 CAMTEK LIMITED Common Stock M20791105 1105 239000 SH SOLE 168500 56500 CAPITAL ONE FINANCIAL CORP Common Stock 14040H105 1467 26430 SH SOLE 26430 CARDINAL HEALTH INC Common Stock 14149Y108 6814 70430 SH SOLE 41130 CASEYS GEN STORES INC Common Stock 147528103 778 65200 SH SOLE 45000 20200 CATALINA MARKETING CORP Common Stock 148867104 4293 131800 SH SOLE 93000 31100 CHEVRON CORP Common Stock 166751107 1003 11420 SH SOLE 11420 CHUBB CORP Common Stock 171232101 326 4500 SH SOLE 4500 CISCO SYSTEMS INC Common Stock 17275R102 2628 166215 SH SOLE 89315 CITIGROUP INC Common Stock 172967101 3924 87242 SH SOLE 60359 CLEAR CHANNEL COMMUNICATIONS Common Stock 184502102 4198 77095 SH SOLE 50545 COHERENT INC Common Stock 192479103 1186 33400 SH SOLE 23600 7800 COLGATE PALMOLIVE CO Common Stock 194162103 491 8880 SH SOLE 8880 COMCAST CORP - CL A SPL Common Stock 200300200 3157 75285 SH SOLE 46885 COMPAQ COMPUTER CORP Common Stock 204493100 844 46355 SH SOLE 46355 CONCORD EFS INC Common Stock 206197105 3781 93500 SH SOLE 25200 68300 CORE LABORATORIES N.V. Common Stock N22717107 2983 158900 SH SOLE 112400 37100 CORNING INC Common Stock 219350105 2233 107940 SH SOLE 79440 5600 CREDIT SUISSE GROUP Common Stock 225401108 248 5600 SH SOLE 5600 CVS CORP Common Stock 126650100 3332 56965 SH SOLE 36765 DEUTSCHE BANK AG - ADR Common Stock 251525309 214 2800 SH SOLE 2800 DEUTSCHE TELEKOM AG - SPON ADRCommon Stock 251566105 352 15200 SH SOLE 15200 DEVON ENERGY CORPORATION Common Stock 25179M103 291 5000 SH SOLE 5000 DEVRY INC Common Stock 251893103 1977 65800 SH SOLE 31700 34100 DIAMOND OFFSHORE DRILLING Common Stock 25271C102 275 7000 SH SOLE 7000 DISCOVERY PARTNERS INTL. Common Stock 254675101 829 130000 SH SOLE 91800 30600 DMC STRATEX NETWORKS INC Common Stock 23322L106 2442 294200 SH SOLE 207700 68400 DOLLAR GENERAL Common Stock 256669102 1311 64125 SH SOLE 64125 DOMINION RES INC VA Common Stock 25746U109 239 3700 SH SOLE 3700 DONNELLEY R R & SONS CO Common Stock 257867101 262 10000 SH SOLE 10000 DOW CHEMICAL Common Stock 260543103 227 7200 SH SOLE 7200 DUKE ENERGY Common Stock 264399106 513 12000 SH SOLE 12000 E M C CORP MASS Common Stock 268648102 1222 41570 SH SOLE 23270 E.PIPHANY INC Common Stock 26881V100 1055 90225 SH SOLE 63875 21050 ECLIPSYS CORP Common Stock 278856109 2740 140500 SH SOLE 98700 33300 EDEN BIOSCIENCE CORPORATION Common Stock 279445100 2551 171500 SH SOLE 121500 39700 EDISON SCHOOLS INC Common Stock 281033100 2464 121700 SH SOLE 86250 28250 EL PASO CORPORATION Common Stock 28336L109 831 12728 SH SOLE 8300 4428 ELAN CORP PLC - ADR Common Stock 284131208 219 4200 SH SOLE 4200 ELECTRONIC ARTS INC Common Stock 285512109 3754 69200 SH SOLE 18600 50600 EMERSON ELEC CO Common Stock 291011104 372 6000 SH SOLE 6000 ENI S P A - SPON ADR Common Stock 26874R108 265 4100 SH SOLE 4100 ENRON CORP Common Stock 293561106 605 10405 SH SOLE 10405 ERICSSON (LM) TEL-SP ADR Common Stock 294821400 238 42600 SH SOLE 42600 EXAR CORP Common Stock 300645108 1299 66200 SH SOLE 46850 15450 EXELON CORPORATION Common Stock 30161N101 394 6000 SH SOLE 6000 EXPRESS SCRIPTS INC CLASS A Common Stock 302182100 2930 33800 SH SOLE 9100 24700 EXXON MOBIL CORPORATION Common Stock 30231G102 4316 53285 SH SOLE 34485 18800 FAMILY DLR STORES INC Common Stock 307000109 2379 92550 SH SOLE 25050 67500 FASTENAL CO Common Stock 311900104 382 7000 SH SOLE 7000 FEDERAL HOME LN MTG CORP Common Stock 313400301 1307 20165 SH SOLE 20165 FEDERATED DEPARTMENT STORES Common Stock 31410H101 270 6500 SH SOLE 6500 FIDELITY NATIONAL FINL INC Common Stock 316326107 1071 40000 SH SOLE 10800 29200 FLEET BOSTON FINANCIAL CORP Common Stock 339030108 1022 27070 SH SOLE 27070 FLEXTRONICS INTL LTD Common Stock Y2573F102 4292 286137 SH SOLE 124657 94080 FORD MOTOR COMPANY Common Stock 345370860 321 11426 SH SOLE 11426 FPL GROUP INC Common Stock 302571104 307 5000 SH SOLE 5000 FRANCE TELECOM - ADR Common Stock 35177Q105 325 5600 SH SOLE 5600 GANNETT CO Common Stock 364730101 263 4400 SH SOLE 4400 GENAISSANCE PHARMACEUTICALS Common Stock 36867W105 768 95300 SH SOLE 67300 22500 GENERAL ELEC CO Common Stock 369604103 8756 209175 SH SOLE 122175 GENERL DYNAMICS CORP Common Stock 369550108 395 6300 SH SOLE 6300 GENETECH Common Stock 368710406 1586 31400 SH SOLE 13100 GLAXOSMITHKLINE PLC - ADR Common Stock 37733W105 968 18500 SH SOLE 18500 GLOBAL CROSSING LTD Common Stock G3921A100 3835 284280 SH SOLE 175480 GOLDMAN SACHS GROUP INC Common Stock 38141G104 340 4000 SH SOLE 4000 GRACO INC Common Stock 384109104 252 9000 SH SOLE 9000 GUIDANT CORP Common Stock 401698105 360 8000 SH SOLE 8000 HALLIBURTON CO Common Stock 406216101 1387 37730 SH SOLE 37730 HEALTH MGMT ASSOCIATES INC-A Common Stock 421933102 3320 213500 SH SOLE 57600 155900 HISPANIC BROADCASTING CORP. Common Stock 43357B104 1345 70400 SH SOLE 19000 51400 HONDA MOTOR LTD - AM SHARES Common Stock 438128308 205 2500 SH SOLE 2500 HORMEL FOODS CORP Common Stock 440452100 448 23000 SH SOLE 23000 HOTEL RESERVATIONS INC Common Stock 441451101 3744 145400 SH SOLE 103000 33900 HOUSEHOLD INTL INC Common Stock 441815107 1321 22300 SH SOLE 12000 10300 HSBC HLDGS PLC - SPON ADR Common Stock 404280406 543 9100 SH SOLE 9100 HUTCHINSON WHAMPOA LTD Common Stock 448415208 235 4500 SH SOLE 4500 I2 TECHNOLOGIES INC Common Stock 465754109 1503 103650 SH SOLE 28050 75600 IDEC PHARMACEUTICALS CORP Common Stock 449370105 1358 33950 SH SOLE 9250 24700 ILLINOIS TOOL WKS INC Common Stock 452308109 512 9000 SH SOLE 9000 ING GROEP NV - ADR Common Stock 456837103 325 5000 SH SOLE 5000 INTEL CORP Common Stock 458140100 4334 164725 SH SOLE 94775 INTERNATIONAL BUSINESS MACHINECommon Stock 459200101 3540 36805 SH SOLE 21255 INTERNATIONAL PAPER CO Common Stock 460146103 271 7500 SH SOLE 7500 INTERNET SECURITY SYSTEMS Common Stock 46060X107 3131 114425 SH SOLE 62925 47200 INTERWOVEN INC Common Stock 46114T102 821 81550 SH SOLE 57700 18950 JAKKS PACIFIC INC Common Stock 47012E106 2952 277800 SH SOLE 197600 63450 JDS UNIPHASE CORP Common Stock 46612J101 1046 56730 SH SOLE 31980 JOHNSON & JOHNSON Common Stock 478160104 1233 14100 SH SOLE 7900 6200 JONES APPAREL GROUP INC Common Stock 480074103 3251 86000 SH SOLE 23200 62800 JP MORGAN CHASE & CO Common Stock 46625H100 3391 75525 SH SOLE 44375 KENNETH COLE PRODUCTIONS-A Common Stock 193294105 2427 97275 SH SOLE 68625 22650 KIMBERLY CLARK CORP Common Stock 494368103 516 7600 SH SOLE 7600 KNIGHT TRADING GROUP INC Common Stock 499063105 715 48900 SH SOLE 13200 35700 KPMG CONSULTING INC Common Stock 48265R109 1242 95500 SH SOLE 26000 69500 KV PHARMACEUTICAL CO Common Stock 482740206 1826 92750 SH SOLE 65575 21775 LCC INTERNATIONAL INC - CL A Common Stock 501810105 589 117700 SH SOLE 83000 27800 LEAR CORPORATION Common Stock 521865105 249 8500 SH SOLE 8500 LINENS 'N THINGS INC Common Stock 535679104 2092 76075 SH SOLE 53725 17650 LOWES COS INC Common Stock 548661107 4714 80645 SH SOLE 49495 LVMH MOET HENNESSY - ADR Common Stock 502441207 144 14300 SH SOLE 14300 MANUGISTICS GROUP INC Common Stock 565011103 4080 222825 SH SOLE 117125 98000 MARSH & MCLENNAN COS INC Common Stock 571748102 285 3000 SH SOLE 3000 MASCO CORP Common Stock 574599106 410 17000 SH SOLE 17000 MATSUSHITA ELECTRIC - ADR Common Stock 576879209 234 12700 SH SOLE 12700 MAXYGEN Common Stock 577776107 796 65700 SH SOLE 46400 15300 MCLEOD INC-CLA Common Stock 582266102 1628 187350 SH SOLE 65250 122100 MEDIMMUNE INC Common Stock 584699102 1928 53750 SH SOLE 14550 39200 MEDTRONIC INC Common Stock 585055106 5154 112670 SH SOLE 68170 5600 MELLON FINANCIAL CORP Common Stock 58551A108 790 19500 SH SOLE 19500 MENTOR CORP/MINN Common Stock 587188103 4931 219175 SH SOLE 157125 51050 MERCK & CO. INC Common Stock 589331107 273 3600 SH SOLE 3600 MERCURY COMPUTER SYSTEMS INC Common Stock 589378108 1879 48975 SH SOLE 34775 11200 MGIC INVT CORP WIS Common Stock 552848103 1218 17800 SH SOLE 11500 6300 MICREL INC Common Stock 594793101 1869 66900 SH SOLE 18100 48800 MICROSOFT CORP Common Stock 594918104 5655 103400 SH SOLE 57600 MILLIPORE CORP Common Stock 601073109 916 19800 SH SOLE 13000 6800 MINIMED INC Common Stock 60365K108 1164 40050 SH SOLE 10850 29200 MINNESOTA MNG & MFG CO Common Stock 604059105 717 6900 SH SOLE 4000 2900 MOLECULAR DEVICES CORP Common Stock 60851C107 2433 53475 SH SOLE 37875 12500 MOTOROLA INC Common Stock 620076109 2037 142840 SH SOLE 84240 NABORS INDUSTRIES INC Common Stock 629568106 3468 66900 SH SOLE 22500 44400 NATL COMMERCE BANCORPORATION Common Stock 635449101 2097 84500 SH SOLE 23000 61500 NESTLE S A - SPON ADR Common Stock 641069406 472 4500 SH SOLE 4500 NETIQ CORP Common Stock 64115P102 878 46500 SH SOLE 32900 10800 NETWORK APPLIANCE INC Common Stock 64120L104 2002 119100 SH SOLE 32200 86900 NEUBERGER BERMAN INC Common Stock 641234109 1132 18200 SH SOLE 4900 13300 NIPPON TELEGRPH & TELE - ADR Common Stock 654624105 274 8500 SH SOLE 8500 NOBLE AFFILIATES INC Common Stock 654894104 689 16500 SH SOLE 10500 6000 NOBLE DRILLING CORP Common Stock 655042109 2216 48000 SH SOLE 12900 35100 NOKIA CORP - ADR Common Stock 654902204 660 27500 SH SOLE 27500 NORTEL NETWORKS CORP Common Stock 656568102 1471 104710 SH SOLE 54610 NOVARTIS AG - SPON ADR Common Stock 66987V109 614 15600 SH SOLE 15600 NOVOSTE CORPORATION Common Stock 67010C100 3095 176200 SH SOLE 124700 41100 NRG ENERGY INC Common Stock 629377102 619 17000 SH SOLE 17000 ORACLE SYS CORP Common Stock 68389X105 1748 116665 SH SOLE 63565 PACIFIC SUNWEAR OF CALIFORNIA Common Stock 694873100 4743 172475 SH SOLE 121875 40000 PACKETEER INC Common Stock 695210104 574 189250 SH SOLE 133850 44000 PATTERSON ENERGY INC Common Stock 703414102 3691 116700 SH SOLE 82600 27200 PEPSICO INC Common Stock 713448108 2800 63700 SH SOLE 39500 PFIZER INC Common Stock 717081103 5370 131145 SH SOLE 72695 PHARMACOPEIA INC Common Stock 71713B104 2498 139725 SH SOLE 98675 32450 PHILIP MORRIS COS INC Common Stock 718154107 285 6000 SH SOLE 6000 PHILLIPS PETROLEUM CO Common Stock 718507106 694 12600 SH SOLE 8300 4300 PLEXUS CORP Common Stock 729132100 1919 74900 SH SOLE 52650 17750 POWERWAVE TECHNOLIGIES INC Common Stock 739363109 2686 197150 SH SOLE 94200 97150 PRAXAIR INC Common Stock 74005P104 928 20780 SH SOLE 20780 PROXIM INC Common Stock 744284100 1497 148800 SH SOLE 105050 34650 QUEST DIAGNOSTICS INC Common Stock 74834L100 1786 20100 SH SOLE 5500 14600 QUIKSILVER Common Stock 74838C106 2589 97525 SH SOLE 68825 22700 QWEST COMMUNICATIONS INTL Common Stock 749121109 631 18000 SH SOLE 18000 RADIAN GROUP INC Common Stock 750236101 6425 94828 SH SOLE 67125 22203 RADIOSHACK CORP Common Stock 750438103 488 13300 SH SOLE 13300 RATIONAL SOFTWARE CORP Common Stock 75409P202 1333 75100 SH SOLE 20300 54800 REHABCARE GROUP INC Common Stock 759148109 5657 137300 SH SOLE 96700 32300 RELIANT ENERGY INC Common Stock 75952J108 281 6200 SH SOLE 6200 REMEC INC Common Stock 759543101 5734 573350 SH SOLE 353800 191750 RENAL CARE GROUP INC Common Stock 759930100 6630 247200 SH SOLE 174900 57800 RF MICRO DEVICES INC Common Stock 749941100 1287 110100 SH SOLE 29800 80300 ROBERT HALF INTL INC Common Stock 770323103 1455 65100 SH SOLE 17500 47600 ROCHE HOLDINGS LTD - SP ADR Common Stock 771195104 290 4000 SH SOLE 4000 ROYAL DUTCH PETRO Common Stock 780257804 244 4400 SH SOLE 4400 SAWTEK INC Common Stock 805468105 1024 57500 SH SOLE 40600 13400 SBC COMMUNICATIONS INC Common Stock 78387G103 478 10700 SH SOLE 10700 SCHLUMBERGER LTD Common Stock 806857108 519 9005 SH SOLE 9005 SCHWAB (CHARLES) CORP Common Stock 808513105 1267 82187 SH SOLE 47837 SHIRE PHARMACEUTICALS GR - ADRCommon Stock 82481R106 1921 43900 SH SOLE 11600 32300 SIEMENS A G - ADR Common Stock 826197402 279 2700 SH SOLE 2700 SMITH INTL INC Common Stock 832110100 1207 17200 SH SOLE 4700 12500 SOFTWARE HOLDERS TRUST Common Stock 83404B103 631 15100 SH SOLE 10000 5100 SONUS NETWORKS INC Common Stock 835916107 839 42045 SH SOLE 11390 30655 SONY CORP - AMER SHARES Common Stock 835699307 361 5000 SH SOLE 5000 ST PAUL COS INC Common Stock 792860108 485 11000 SH SOLE 11000 SUN MICROSYSTEMS INC Common Stock 866810104 1431 93110 SH SOLE 51910 SUNGARD DATA SYSTEMS INC Common Stock 867363103 463 9400 SH SOLE 6200 3200 SUNTRUST BKS INC Common Stock 867914103 220 3400 SH SOLE 3400 SYNOPSYS INC Common Stock 871607107 2563 54615 SH SOLE 21315 33300 T ROWE PRICE GROUP INC Common Stock 74144T108 1340 42800 SH SOLE 11600 31200 TANOX INC Common Stock 87588Q109 1281 65900 SH SOLE 17800 48100 TARGET CORP Common Stock 87612E106 3042 84325 SH SOLE 78525 5800 TCF FINL CORP Common Stock 872275102 1285 34000 SH SOLE 12200 21800 TELEFONICA S A - ADR Common Stock 879382208 332 6936 SH SOLE 6936 TELEPHONE & DATA SYS INC Common Stock 879433100 1337 14300 SH SOLE 3800 10500 THQ INC. Common Stock 872443403 2229 58650 SH SOLE 41350 13600 TOTAL FINA ELF S A - ADR Common Stock 89151E109 544 8000 SH SOLE 8000 TOYOTA MOTOR CORP - ADR Common Stock 892331307 771 10900 SH SOLE 10900 TTI TEAM TELECOM INTL LTD Common Stock M88258104 1391 109100 SH SOLE 76900 25800 TYCO INTERNATIONAL LTD Common Stock 902124106 6230 144110 SH SOLE 89260 UBIQUITEL INC Common Stock 903474302 1527 265500 SH SOLE 187100 62900 UBS Common Stock 001074074 259 1800 SH SOLE 1800 ULTIMATE ELECTRONICS INC Common Stock 903849107 2282 91275 SH SOLE 64200 21175 UNION PAC CORP Common Stock 907818108 563 10000 SH SOLE 10000 UNITED TECHNOLOGIES CORP Common Stock 913017109 235 3200 SH SOLE 3200 UNITEDHEALTH GROUP INC Common Stock 91324P102 818 13800 SH SOLE 9000 4800 UNIVISION COMMUNICATIONS - A Common Stock 914906102 2072 54300 SH SOLE 14900 39400 USA EDUCATION INC Common Stock 90390U102 509 7000 SH SOLE 7000 VASCULAR SOLUTIONS INC Common Stock 92231M109 615 98400 SH SOLE 69050 23350 VEECO INSTRUMENTS INC Common Stock 922417100 1874 45100 SH SOLE 31800 10500 VERITY INC Common Stock 92343C106 1275 56200 SH SOLE 39800 13200 VERIZON COMMUNICATIONS Common Stock 92343V104 1365 27680 SH SOLE 27680 VIACOM INC CL-B Common Stock 925524308 264 6000 SH SOLE 6000 VIRATA CORP Common Stock 927646109 2700 206700 SH SOLE 146300 48200 VITESSE SEMICONDUCTOR CORP Common Stock 928497106 1124 47200 SH SOLE 12800 34400 VODAFONE GROUP PLC-ADR Common Stock 92857W100 418 15400 SH SOLE 15400 WACHOVIA CORP Common Stock 929771103 235 3900 SH SOLE 3900 WAL MART STORES INC Common Stock 931142103 1401 27750 SH SOLE WALGREEN CO Common Stock 931422109 571 14000 SH SOLE 14000 WATERS CORPORATION Common Stock 941848103 1851 39850 SH SOLE 10850 29000 WATSON PHARMACEUTICAL INC Common Stock 942683103 2514 47800 SH SOLE 13000 34800 WELLS FARGO COMPANY Common Stock 949746101 881 17800 SH SOLE 8300 9500 WILLIAMS COS INC Common Stock 969457100 343 8000 SH SOLE 8000 WILLIAMS SONOMA INC Common Stock 969904101 651 24800 SH SOLE 6700 18100 WORLDCOM INC Common Stock 98157D106 1157 61890 SH SOLE 61890 WRIGLEY WM JR CO Common Stock 982526105 492 10200 SH SOLE 10200 XCEL ENERGY INC Common Stock 98389B100 933 31000 SH SOLE 31000 ZORAN CORP Common Stock 98975F101 2170 141700 SH SOLE 100200 32900