UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 13F Form 13F COVER PAGE Report for the Calendar Year or Quarter Ended: December 31, 2003 Check here if Amendment [ ]; Amendment Number: ____ This Amendment (Check only one.): [ ] is a restatement. [ ] adds new holdings entries. Institutional Investment Manager Filing this Report: Name: BP p.l.c. Address: 1 St James's Square London SW1Y 4PD England Form 13F File Number: 28-05353 The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form. Person Signing this Report on Behalf of Reporting Manager: Name: Dr. Byron E. Grote Title: Chief Financial Officer and Executive Director Phone: 020 7496 4263 Signature, Place, and Date of Signing: /s/ Byron Grote London, UK 09 Feb 2004 --------------- ----------------- ------------------ [Signature] [City,State] [Date] Report Type (Check only one.): [X] 13F HOLDINGS REPORT. (Check here if all holdings of this reporting manager are reported in this report.) [ ] 13F NOTICE. (Check here if no holdings reported are in this report, and all holdings are reported by other reporting manager(s).) [ ] 13F COMBINATION REPORT. (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).) List of Other Managers Reporting for this Manager: Form 13F File Number Name 28-________________ _______________ Form 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 1 ----------- Form 13F Information Table Entry Total: 363 ----------- Form 13F Information Table Value Total: $ 1,098,764 ----------- (thousands) List of Other Included Managers: Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report. No. Form 13F File Number Name 01 28-05357 BP Investment Management Limited BP P.L.C. FORM 13F INFORMATION TABLE DECEMBER 31, 2003 TITLE MARKET VOTING AUTHORITY OF VALUE SHARES SH/ INVESTMENT --------------------------------- ISSUER CLASS CUSIP (USD 000) /PRN AMT PRN DISCRETION MANAGERS SOLE SHARED NONE 1ST DATA CPUSD0.01 COM 319963104 4,520 110,000 SH DEFINED 01 110,000 3COM CORP COM 885535104 327 40,000 SH DEFINED 01 40,000 3M COM 88579Y101 7,228 85,000 SH DEFINED 01 85,000 5TH 3RD BANCO NPV COM 316773100 4,078 69,000 SH DEFINED 01 69,000 ABBOTT LABS COM 002824100 7,689 165,000 SH DEFINED 01 165,000 ADOBE SYSTEMS COM 00724F101 1,179 30,000 SH DEFINED 01 30,000 AETNA NEW COM 00817Y108 1,561 23,100 SH DEFINED 01 23,100 AFLAC COM 001055102 2,533 70,000 SH DEFINED 01 70,000 AIR PROD&CHEM COM 009158106 1,321 25,000 SH DEFINED 01 25,000 ALBERTSON'S COM 013104104 793 35,000 SH DEFINED 01 35,000 ALCOA INC COM 013817101 3,990 105,000 SH DEFINED 01 105,000 ALLOS THERAPEUTICS COM COM 019777101 159 44,172 SH SOLE 44,172 ALLSTATE CORP COM 020002101 3,657 85,000 SH DEFINED 01 85,000 ALLTEL COM 020039103 1,537 33,000 SH DEFINED 01 33,000 ALTERA CP COM 021441100 908 40,000 SH DEFINED 01 40,000 ALTRIA GRP INC COM 02209S103 11,700 215,000 SH DEFINED 01 215,000 AMAZON COM COM 023135106 2,106 40,000 SH DEFINED 01 40,000 AMBAC FIN COM 023139108 694 10,000 SH DEFINED 01 10,000 AMDOCS COM G02602103 562 25,000 SH DEFINED 01 25,000 AMER ELEC COM 025537101 1,220 40,000 SH DEFINED 01 40,000 AMER INT GRP COM 026874107 19,553 295,000 SH DEFINED 01 295,000 AMER MOV ADR20 ADR 02364W105 2,700 100,000 SH DEFINED 01 100,000 AMER MOV ADR20 ADR 02364W204 1,722 63,000 SH DEFINED 01 63,000 AMER POWER COM 029066107 489 20,000 SH DEFINED 01 20,000 AMEREN CRP COM 023608102 1,610 35,000 SH DEFINED 01 35,000 AMERICAN EXPRESS COM 025816109 6,873 142,500 SH DEFINED 01 142,500 AMGEN COM 031162100 9,764 158,000 SH DEFINED 01 158,000 AMSOUTH BANCORP COM 032165102 858 35,000 SH DEFINED 01 35,000 ANADARKO PET COM 032511107 1,530 30,000 SH DEFINED 01 30,000 ANALOG DEVICES COM 032654105 1,826 40,000 SH DEFINED 01 40,000 ANHEUSER BUSCH COM 035229103 5,527 104,920 SH DEFINED 01 104,920 ANTHEM INC COM 03674B104 1,125 15,000 SH DEFINED 01 15,000 APACHE CP COM 037411105 1,703 21,000 SH DEFINED 01 21,000 APOLLO GP'A'NPV COM 037604105 884 13,000 SH DEFINED 01 13,000 APP MATERIAL COM 038222105 4,445 198,000 SH DEFINED 01 198,000 APPLE COM NPV COM 037833100 855 40,000 SH DEFINED 01 40,000 APPLERA BIOSYS COM 038020103 414 20,000 SH DEFINED 01 20,000 ARAC CEL ADR B PRF ADR 038496204 498 14,200 SH DEFINED 01 14,200 ARGLNT TECH COM 00846U101 1,462 50,000 SH DEFINED 01 50,000 AT&T CORP COM 001957505 1,683 82,909 SH DEFINED 01 82,909 AT&T WIRELESS COM 00209A106 2,157 270,000 SH DEFINED 01 270,000 AUTO DATA$0.10 COM 053015103 3,208 81,000 SH DEFINED 01 81,000 AVON PRODS COM 054303102 2,025 30,000 SH DEFINED 01 30,000 BAKBONE SOFTWARE COM 057101107 297 107,949 SH SOLE 107,949 BAKER HUGHES$1 COM 057224107 1,206 37,500 SH DEFINED 01 37,500 BANK ONE CP COM 06423A103 5,471 120,000 SH DEFINED 01 120,000 BAXTER INTL COM 071813109 2,014 66,000 SH DEFINED 01 66,000 BB&T CP USD5 COM 054937107 1,932 50,000 SH DEFINED 01 50,000 BEA SYSTEM$0.001 COM 073325102 830 67,500 SH DEFINED 01 67,500 BECT DICKIN USD1 COM 075887109 1,029 25,000 SH DEFINED 01 25,000 BED BATH&BYND$0.01 COM 075896100 1,084 25,000 SH DEFINED 01 25,000 BELLSOUTH COM 079860102 5,519 195,000 SH DEFINED 01 195,000 BERKSHIRE HATH'A' COM 084670108 8,846 105 SH DEFINED 01 105 BEST BUY!0.10 COM 086516101 1,959 37,500 SH DEFINED 01 37,500 BK NEWYORK$7.50 COM 064057102 3,146 95,000 SH DEFINED 01 95,000 BK OF AMER(TOK) COM 060505104 15,282 190,000 SH DEFINED 01 190,000 BLACOMDECKER COM 091797100 1,480 30,000 SH DEFINED 01 30,000 BLOCK(H&R)NPV COM 093671105 997 18,000 SH DEFINED 01 18,000 BMC SOFTWARE COM 055921100 466 25,000 SH DEFINED 01 25,000 BOEING COM 097023105 3,708 88,000 SH DEFINED 01 88,000 BOSTON SCIEN $0.01 COM 101137107 2,426 66,000 SH DEFINED 01 66,000 BRLNGTN RES USD.01 COM 122014103 1,661 30,000 SH DEFINED 01 30,000 BROADCOM COM 111320107 716 21,000 SH DEFINED 01 21,000 BRSTL-MYER SQ!0.10 COM 110122108 5,560 194,400 SH DEFINED 01 194,400 BURLNGTON NTH SAN COM 12189T104 1,229 38,000 SH DEFINED 01 38,000 CAP1 FINL COM 14040H105 919 15,000 SH DEFINED 01 15,000 CARDINAL HLTH NPV COM 14149Y108 2,752 45,000 SH DEFINED 01 45,000 CARSO GBL SPN.ADR ADR 14574P107 448 160,000 SH DEFINED 01 160,000 CATERPILLAR COM 149123101 3,694 44,500 SH DEFINED 01 44,500 CEMX ADR 5 CPO ADR 151290889 4,151 158,450 SH DEFINED 01 158,450 CENDANT$0.01 COM 151313103 3,118 140,000 SH DEFINED 01 140,000 CERIDIAN COM 15677T106 628 30,000 SH DEFINED 01 30,000 CHEVRONTEXACO COM 166751107 10,803 125,050 SH DEFINED 01 125,050 CHUBB CORP!1 COM 171232101 1,022 15,000 SH DEFINED 01 15,000 CIA BEBDS ADR ADR 20441W203 383 15,000 SH DEFINED 01 15,000 CIENA CP$0.01 COM 171779101 332 50,000 SH DEFINED 01 50,000 CIGNA CP COM 125509109 978 17,000 SH DEFINED 01 17,000 CINERGY$0.01 COM 172474108 854 22,000 SH DEFINED 01 22,000 CISCO SYSTEMS COM 17275R102 17,003 700,000 SH DEFINED 01 700,000 CITIGROUP USD0.01 COM 172967101 28,380 584,669 SH DEFINED 01 584,669 CLEAR CHANNL COM 184502102 2,810 60,000 SH DEFINED 01 60,000 CNTRPNT ENRGY COM 19041P105 494 51,000 SH DEFINED 01 51,000 COCA COLA!0.25 COM 191216100 12,434 245,000 SH DEFINED 01 245,000 COCA-COLA ENT$1 COM 191219104 875 40,000 SH DEFINED 01 40,000 COLGATE-PALMOLIVE COM 194162103 3,153 63,000 SH DEFINED 01 63,000 COMCAST CORP(NEW) COM 20030N200 4,379 140,000 SH DEFINED 01 140,000 COMCAST'A' COM 20030N101 3,943 119,955 SH DEFINED 01 119,955 COMERCIA INC COM 200340107 1,233 22,000 SH DEFINED 01 22,000 COMP ASOC INT COM 204912109 1,394 51,000 SH DEFINED 01 51,000 COMP BAN COM 20449H109 590 15,000 SH DEFINED 01 15,000 COMP SCIENCES$1 COM 205363104 885 20,000 SH DEFINED 01 20,000 COMVERSE TEC COM 205862402 528 30,000 SH DEFINED 01 30,000 CONOCOPHILLIPS COM 20825C104 5,252 80,100 SH DEFINED 01 80,100 CONSL EDISON!0.10 COM 209115104 860 20,000 SH DEFINED 01 20,000 CORNING$0.50 COM 219350105 1,408 135,000 SH DEFINED 01 135,000 COSTCO WHLESLE COM 22160K105 1,859 50,000 SH DEFINED 01 50,000 COUNTRYWIDE CDT COM 222372104 1,517 20,000 SH DEFINED 01 20,000 COX COMM'A'$1 COM 224044107 1,034 30,000 SH DEFINED 01 30,000 CRNVL CORP COM 143658300 2,582 65,000 SH DEFINED 01 65,000 CSX CORP COM 126408103 1,222 34,000 SH DEFINED 01 34,000 CVS CORP COM 126650100 1,806 50,000 SH DEFINED 01 50,000 DANAHER 0.01 COM 235851102 1,193 13,000 SH DEFINED 01 13,000 DARDEN RESTCSN COM 237194105 421 20,000 SH DEFINED 01 20,000 DEERE&CO COM 244199105 1,724 26,500 SH DEFINED 01 26,500 DELL COM 247025109 9,764 287,500 SH DEFINED 01 287,500 DELPHI COM 247126105 613 60,000 SH DEFINED 01 60,000 DEVON ENERGY COM 25179M103 2,434 42,500 SH DEFINED 01 42,500 DOLLAR GEN!0.50 COM 256669102 971 46,250 SH DEFINED 01 46,250 DOMINION RES(VIRG) COM 257470104 2,362 37,000 SH DEFINED 01 37,000 DOVER CORP!1 COM 260003108 795 20,000 SH DEFINED 01 20,000 DOW CHEM COM 260543103 4,431 106,600 SH DEFINED 01 106,600 DSL.NET INC COM 262506108 328 546,486 SH SOLE 546,486 DTE ENRGY COM 233331107 749 19,000 SH DEFINED 01 19,000 DU PONT COM 263534109 5,277 115,000 SH DEFINED 01 115,000 DUKE ENGY NPV COM 264399106 2,761 135,000 SH DEFINED 01 135,000 EATON CORP COM 278058102 1,296 12,000 SH DEFINED 01 12,000 EBAY IUSD0.01 COM 278642103 2,971 46,000 SH DEFINED 01 46,000 ECOLAB $1 COM 278865100 1,095 40,000 SH DEFINED 01 40,000 EL PASO CP COM 28368B102 655 80,000 SH DEFINED 01 80,000 ELE DTA SYS$0.01 COM 285661104 1,350 55,000 SH DEFINED 01 55,000 ELEC ARTS COM 285512109 1,433 30,000 SH DEFINED 01 30,000 EMC MASS USD0.01 COM 268648102 3,101 240,000 SH DEFINED 01 240,000 EMERSON ELEC$1 COM 291011104 2,914 45,000 SH DEFINED 01 45,000 ENGELHARD CP COM 292845104 899 30,000 SH DEFINED 01 30,000 ENTERGY$0.01 COM 29364G103 2,000 35,000 SH DEFINED 01 35,000 EXELON COM 30161N101 2,654 40,000 SH DEFINED 01 40,000 EXP SCRIPTS$0.01'A COM 302182100 531 8,000 SH DEFINED 01 8,000 EXXON MOB COM 30231G102 29,725 725,000 SH DEFINED 01 725,000 FANNIE MAE COM 313586109 7,506 100,000 SH DEFINED 01 100,000 FED DEPMRT COM 31410H101 943 20,000 SH DEFINED 01 20,000 FEDEX CORP COM 31428X106 1,890 28,000 SH DEFINED 01 28,000 FIRST ENERGY USD.1 COM 337932107 1,408 40,000 SH DEFINED 01 40,000 FISERV COM 337738108 790 20,000 SH DEFINED 01 20,000 FLEET BSTN FINL COM 339030108 4,758 109,000 SH DEFINED 01 109,000 FLEXTRONICS$0.01 COM Y2573F102 787 53,000 SH DEFINED 01 53,000 FLUOR COM 343861100 595 15,000 SH DEFINED 01 15,000 FOM ECON ADR ADR 344419106 1,106 30,000 SH DEFINED 01 30,000 FORD MTR COM 345370860 2,720 170,000 SH DEFINED 01 170,000 FOREST LABS COM 345838106 3,090 50,000 SH DEFINED 01 50,000 FOX ENT GRP'A' COM 35138T107 1,020 35,000 SH DEFINED 01 35,000 FPL GR$0.01 COM 302571104 1,963 30,000 SH DEFINED 01 30,000 FRANKLIN RES COM 354613101 1,562 30,000 SH DEFINED 01 30,000 FRED MAC USD0.21 COM 313400301 4,403 75,500 SH DEFINED 01 75,500 GANNETT COM 364730101 3,923 44,000 SH DEFINED 01 44,000 GAP INC$0.05 COM 364760108 1,973 85,000 SH DEFINED 01 85,000 GEN DYN COM 369550108 1,808 20,000 SH DEFINED 01 20,000 GEN ELEC COM 369604103 30,980 1,000,000 SH DEFINED 01 1,000,000 GEN MOTORS COM 370442832 2,804 52,500 SH DEFINED 01 52,500 GENENTECH COM 368710406 2,105 22,500 SH DEFINED 01 22,500 GENERAL MLS$0.1 COM 370334104 2,265 50,000 SH DEFINED 01 50,000 GENUNE PRTS COM 372460105 432 13,000 SH DEFINED 01 13,000 GEORGIA PAC$0.80 COM 373298108 1,104 36,000 SH DEFINED 01 36,000 GILEAD SCIE 0.001 COM 375558103 1,570 27,000 SH DEFINED 01 27,000 GILLETTE CO$1 COM 375766102 3,673 100,000 SH DEFINED 01 100,000 GLBSANFE CORP COM G3930E101 521 21,000 SH DEFINED 01 21,000 GLD SACHS COM 38141G104 3,209 32,500 SH DEFINED 01 32,500 GNZYM COM 372917104 1,234 25,000 SH DEFINED 01 25,000 GOLDEN WEST$0.10 COM 381317106 2,064 20,000 SH DEFINED 01 20,000 GPO CARSO SPN.ADR ADR 400485207 681 100,000 SH DEFINED 01 100,000 GRAINGER$0.50 COM 384802104 711 15,000 SH DEFINED 01 15,000 GRUPO TELE SP GDR GDR 40049J206 1,794 45,000 SH DEFINED 01 45,000 GUIDNT CRP NPV COM 401698105 1,686 28,000 SH DEFINED 01 28,000 HALLIBRTON COM 406216101 1,300 50,000 SH DEFINED 01 50,000 HARLEY DAVID!0.01 COM 412822108 1,830 38,500 SH DEFINED 01 38,500 HARRAHS ENT$0.10 COM 413619107 572 11,500 SH DEFINED 01 11,500 HARTFORD FINL USD COM 416515104 1,594 27,000 SH DEFINED 01 27,000 HASBRO COM 418056107 426 20,000 SH DEFINED 01 20,000 HCA INC COM 404119109 2,127 49,500 SH DEFINED 01 49,500 HEINZ(HJ) COM 423074103 1,366 37,500 SH DEFINED 01 37,500 HELL TELECOM ADS COM 423325307 186 27,778 SH DEFINED 01 27,778 HENRY SCHEIN NPV COM 806407102 338 5,000 SH DEFINED 01 5,000 HERSHEY FOODS$1 COM 427866108 770 10,000 SH DEFINED 01 10,000 HEWLETT-PKARD COM 428236103 7,695 335,000 SH DEFINED 01 335,000 HIBERNIA'A'NPV COM 428656102 870 37,000 SH DEFINED 01 37,000 HILTON HOTELS$2.50 COM 432848109 857 50,000 SH DEFINED 01 50,000 HNYWELL INTL COM 438516106 3,009 90,000 SH DEFINED 01 90,000 HOME DEPOT!0.05 COM 437076102 9,085 256,000 SH DEFINED 01 256,000 HUGHES ELEC COM 444418107 1,090 65,857 SH DEFINED 01 65,857 IBM COM 459200101 16,590 179,000 SH DEFINED 01 179,000 ILL TOOL NPV COM 452308109 3,356 40,000 SH DEFINED 01 40,000 IMS HEALTH USD COM 449934108 746 30,000 SH DEFINED 01 30,000 INDIA FUND COM 454089103 6,010 238,483 SH DEFINED 01 238,483 INGRSL-RND'A' COM G4776G101 1,901 28,000 SH DEFINED 01 28,000 INT PAPER !1 COM 460146103 2,328 54,000 SH DEFINED 01 54,000 INTEL COM 458140100 20,930 650,000 SH DEFINED 01 650,000 INTUIT 0.01 COM 461202103 1,333 25,200 SH DEFINED 01 25,200 IONA TECH ADR ADR 46206P109 317 65,000 SH DEFINED 01 65,000 ISHS C&S RLTY IDX COM 715680104 7,426 70,000 SH DEFINED 01 70,000 ITT INDUST COM 450911102 1,484 20,000 SH DEFINED 01 20,000 JABIL CIRCT COM 466313103 566 20,000 SH DEFINED 01 20,000 JDS UNIPHASE CRP COM 46612J101 511 140,000 SH DEFINED 01 140,000 JOHNSN CNTL$0.1666 COM 478366107 1,742 15,000 SH DEFINED 01 15,000 JOHNSN&JOHNSN COM 478160104 15,498 300,000 SH DEFINED 01 300,000 JP MORGAN CHASE COM 46625H100 8,026 218,500 SH DEFINED 01 218,500 JUNIPER NTWRK COM 48203R104 841 45,000 SH DEFINED 01 45,000 KB HOME COM 48666K109 725 10,000 SH DEFINED 01 10,000 KELLOGG$0.25 COM 487836108 1,618 42,500 SH DEFINED 01 42,500 KERR-MCGEE$1 COM 492386107 1,395 30,000 SH DEFINED 01 30,000 KEYCORP$1 COM 493267108 1,319 45,000 SH DEFINED 01 45,000 KIMBERLY-CL COM 494368103 2,836 48,000 SH DEFINED 01 48,000 KLA TENCOR COM 482480100 1,232 21,000 SH DEFINED 01 21,000 KOHLS CORP COM 500255104 2,467 54,900 SH DEFINED 01 54,900 KRFT FDS INC'A' COM 50075N104 1,450 45,000 SH DEFINED 01 45,000 KROGER$1 COM 501044101 1,758 95,000 SH DEFINED 01 95,000 LASON SYS$0.01 COM 51808R107 -- 1,824 SH DEFINED 01 1,824 LEHMAN BROS!0.10 COM 524908100 2,471 32,000 SH DEFINED 01 32,000 LENNAR$0.10 COM 526057104 720 7,500 SH DEFINED 01 7,500 LEXMARK INTL'A'$ COM 529771107 1,180 15,000 SH DEFINED 01 15,000 LIBERTY MED CORP COM 530718105 2,973 250,080 SH DEFINED 01 250,080 LILLY ELI COM 532457108 8,615 122,500 SH DEFINED 01 122,500 LINCOLN NATL COM 534187109 807 20,000 SH DEFINED 01 20,000 LINEAR TECH NPV COM 535678106 1,472 35,000 SH DEFINED 01 35,000 LOCK MARTIN COM 539830109 2,467 48,000 SH DEFINED 01 48,000 LOWE'S COS$0.50 COM 548661107 5,207 94,000 SH DEFINED 01 94,000 LSI LOGIC COM 502161102 399 45,000 SH DEFINED 01 45,000 LTD BRNDS INC COM 532716107 902 50,000 SH DEFINED 01 50,000 LUCENT TECH$0.01 COM 549463107 1,250 440,000 SH DEFINED 01 440,000 MARATHON OIL COM 565849106 1,489 45,000 SH DEFINED 01 45,000 MARRIOTT INT'A' COM 571903202 1,848 40,000 SH DEFINED 01 40,000 MARSH&MCLN COM 571748102 3,927 82,000 SH DEFINED 01 82,000 MASCO CORPN$1 COM 574599106 1,645 60,000 SH DEFINED 01 60,000 MATAV RT ADS COM 576561104 2,807 150,000 SH DEFINED 01 150,000 MATTEL INC$1 COM 577081102 771 40,000 SH DEFINED 01 40,000 MAXIM INTER USD COM 57772K101 1,843 37,000 SH DEFINED 01 37,000 MBIA INC COM 55262C100 888 15,000 SH DEFINED 01 15,000 MBNA COM 55262L100 3,852 155,000 SH DEFINED 01 155,000 MCCORMICK NV NPV COM 579780206 452 15,000 SH DEFINED 01 15,000 MCDONALD'S COM 580135101 3,228 130,000 SH DEFINED 01 130,000 MCGRAW HILL$1 COM 580645109 1,608 23,000 SH DEFINED 01 23,000 MCKESSON CORP COM 58155Q103 1,286 40,000 SH DEFINED 01 40,000 MDCHLTH SLTN COM 58405U102 689 20,270 SH DEFINED 01 20,270 MEADWESTVACO COM 583334107 595 20,000 SH DEFINED 01 20,000 MEDIMMUNE COM 584699102 1,207 47,500 SH DEFINED 01 47,500 MEDTRONIC INC$0.10 COM 585055106 6,903 142,000 SH DEFINED 01 142,000 MELLON FINL COM 58551A108 1,750 54,500 SH DEFINED 01 54,500 MERC BKSHS$2 COM 587405101 319 7,000 SH DEFINED 01 7,000 MERCK&CO NPV COM 589331107 8,316 180,000 SH DEFINED 01 180,000 MERRIL LYNCH COM 590188108 5,542 94,500 SH DEFINED 01 94,500 METLIFE INC COM 59156R108 2,189 65,000 SH DEFINED 01 65,000 MGN ST COM 617446448 7,031 121,500 SH DEFINED 01 121,500 MICRON TECH COM 595112103 1,212 90,000 SH DEFINED 01 90,000 MICROSOFT COM 594918104 30,845 1,120,000 SH DEFINED 01 1,120,000 MILLNUM PHARM COM 599902103 653 35,000 SH DEFINED 01 35,000 MOLEX COM 608554101 523 15,000 SH DEFINED 01 15,000 MOODYS COM 615369105 1,968 32,500 SH DEFINED 01 32,500 MOTOROLA COM 620076109 3,482 247,500 SH DEFINED 01 247,500 MYLAN LABS COM 628530107 1,263 50,000 SH DEFINED 01 50,000 N.FORK BANC COM 659424105 2,651 65,500 SH DEFINED 01 65,500 NAT CITY CORP COM 635405103 2,206 65,000 SH DEFINED 01 65,000 NAT SEMICON$0.50 COM 637640103 788 20,000 SH DEFINED 01 20,000 NATUZZI ADR ADR 456478106 1,828 181,340 SH DEFINED 01 181,340 NEWELL RUBBERMAID COM 651229106 342 15,000 SH DEFINED 01 15,000 NEWMONT$1.60 COM 651639106 2,187 45,000 SH DEFINED 01 45,000 NEWS CP ADR ADR 652487802 223 7,365 SH DEFINED 01 7,365 NEXTL COMM INC COM 65332V103 3,367 120,000 SH DEFINED 01 120,000 NIKE'B'NPV COM 654106103 1,712 25,000 SH DEFINED 01 25,000 NORFOLK S.$1 COM 655844108 1,183 50,000 SH DEFINED 01 50,000 NRTHN TST COM 665859104 928 20,000 SH DEFINED 01 20,000 NRTHROP GRUM COM 666807102 2,008 21,000 SH DEFINED 01 21,000 NY TIMES COM 650111107 693 14,500 SH DEFINED 01 14,500 OMNICOM!0.50 COM 681919106 2,629 30,100 SH DEFINED 01 30,100 ORACLE CP$0.01 COM 68389X105 7,326 555,000 SH DEFINED 01 555,000 ORBOTECH COM M75253100 1,495 62,500 SH DEFINED 01 62,500 OXFORD HEALTH COM 691471106 609 14,000 SH DEFINED 01 14,000 P G&E COM 69331C108 1,805 65,000 SH DEFINED 01 65,000 PAYCHEX COM 704326107 2,046 55,000 SH DEFINED 01 55,000 PENNEY(JC)CO COM 708160106 920 35,000 SH DEFINED 01 35,000 PEOPLESFT 0.01 COM 712713106 1,596 70,000 SH DEFINED 01 70,000 PEPSICO COM 713448108 9,086 194,900 SH DEFINED 01 194,900 PFIZER COM 717081103 30,907 874,800 SH DEFINED 01 874,800 PHELPS DODGE$6.25 COM 717265102 1,522 20,000 SH DEFINED 01 20,000 PHOENIX COS INC NEW COM 71902E109 1,226 101,817 SH SOLE 101,817 PITNEY BOWES COM 724479100 1,016 25,000 SH DEFINED 01 25,000 PPG INDS$1 2/3 COM 693506107 1,280 20,000 SH DEFINED 01 20,000 PPL CP COM 69351T106 1,969 45,000 SH DEFINED 01 45,000 PRAXAIR$0.01 COM 74005P104 1,413 37,000 SH DEFINED 01 37,000 PRGRSS ENRGY COM 743263105 1,222 27,000 SH DEFINED 01 27,000 PRINCIPAL FIN COM 74251V102 1,157 35,000 SH DEFINED 01 35,000 PRINCIPAL FINANCIAL GROUP COM 74251V102 342 10,354 SH SOLE 10,354 PRKM SFW GDR RGS GDR 743394207 814 35,000 SH DEFINED 01 35,000 PROCTR&GMBLE COM 742718109 14,982 150,000 SH DEFINED 01 150,000 PRUDENT FINANCIAL COM 744320102 1,420 34,000 SH DEFINED 01 34,000 PTRLBRAS ADS COM 71654V408 439 15,000 SH DEFINED 01 15,000 PUBLIC SERV NPV COM 744573106 1,095 25,000 SH DEFINED 01 25,000 PULTE HOMES!0.01 COM 745867101 702 7,500 SH DEFINED 01 7,500 QUALCOMM COM 747525103 4,584 85,000 SH DEFINED 01 85,000 QUST DIAGNSTC COM 74834L100 621 8,500 SH DEFINED 01 8,500 QWEST COMM USD0.01 COM 749121109 778 180,000 SH DEFINED 01 180,000 RAYTHEON CO COM 755111507 1,352 45,000 SH DEFINED 01 45,000 RCKWLL CLLNS COM 774341101 601 20,000 SH DEFINED 01 20,000 ROCKWELL AUTO COM 773903109 712 20,000 SH DEFINED 01 20,000 ROHM&HAAS COM 775371107 854 20,000 SH DEFINED 01 20,000 SAFEWAY INC$0.01 COM 786514208 986 45,000 SH DEFINED 01 45,000 SANMINA CORP COM 800907107 883 70,000 SH DEFINED 01 70,000 SARA LEE COM 803111103 1,628 75,000 SH DEFINED 01 75,000 SBC COMM$1 COM 78387G103 9,125 350,000 SH DEFINED 01 350,000 SCHERING-PLOUGH COM 806605101 2,382 137,000 SH DEFINED 01 137,000 SCHLMBGR!1 COM 806857108 3,830 70,000 SH DEFINED 01 70,000 SCHWAB CHARL$0.01 COM 808513105 1,776 150,000 SH DEFINED 01 150,000 SEARS ROE!0.75 COM 812387108 1,365 30,000 SH DEFINED 01 30,000 SEMPRA ENER NPV COM 816851109 902 30,000 SH DEFINED 01 30,000 SIEBEL SYS$0.001 COM 826170102 832 60,000 SH DEFINED 01 60,000 SIGMA ALDRICH$1 COM 826552101 457 8,000 SH DEFINED 01 8,000 SLM CORP COM 78442P106 2,713 72,000 SH DEFINED 01 72,000 SOLECTRON 0.001 COM 834182107 577 97,550 SH DEFINED 01 97,550 SOUTHERN CO$5 COM 842587107 2,420 80,000 SH DEFINED 01 80,000 SPRINT CR(PCS GRP) COM 852061506 562 100,000 SH DEFINED 01 100,000 SPRINT$2.50 COM 852061100 1,642 100,000 SH DEFINED 01 100,000 SPX COM 784635104 794 13,500 SH DEFINED 01 13,500 ST PAUL COS NPV COM 792860108 1,388 35,000 SH DEFINED 01 35,000 STAPLES USD COM 855030102 2,075 76,000 SH DEFINED 01 76,000 STARBUCK NPV COM 855244109 1,818 55,000 SH DEFINED 01 55,000 STARWD HOTELS'B' COM 85590A203 1,043 29,000 SH DEFINED 01 29,000 STATE ST CP$1 COM 857477103 1,875 36,000 SH DEFINED 01 36,000 STET HELL TEL ADR ADR 859823106 751 57,737 SH DEFINED 01 57,737 STRYKER CORP$0.10 COM 863667101 1,275 15,000 SH DEFINED 01 15,000 SUN MICRO COM 866810104 1,572 350,000 SH DEFINED 01 350,000 SW AIR$1 COM 844741108 1,453 90,000 SH DEFINED 01 90,000 SYNOVUS FNCL COM 87161C105 1,504 52,000 SH DEFINED 01 52,000 SYSCO CORP$1 COM 871829107 2,606 70,000 SH DEFINED 01 70,000 TARGET CP COM 87612E106 3,533 92,000 SH DEFINED 01 92,000 TEFNDS MEX ADR ADR 879403707 4,455 135,000 SH DEFINED 01 135,000 TELE MEX ADS COM 879403780 2,411 73,000 SH DEFINED 01 73,000 TEMCOM-INLAND$1 COM 879868107 627 10,000 SH DEFINED 01 10,000 TENET HLTH COM 88033G103 883 55,000 SH DEFINED 01 55,000 TERADYNE COM 880770102 509 20,000 SH DEFINED 01 20,000 TEXAS INSTS$1 COM 882508104 5,876 200,000 SH DEFINED 01 200,000 TEXTRON INC$0.125 COM 883203101 1,141 20,000 SH DEFINED 01 20,000 TIME WARNER COM 887315109 8,455 470,000 SH DEFINED 01 470,000 TJX CO!1 COM 872540109 1,764 80,000 SH DEFINED 01 80,000 TRANSOCN INC COM G90078109 960 40,000 SH DEFINED 01 40,000 TRAV PROP CAS'B' COM 89420G406 1,697 99,990 SH DEFINED 01 99,990 TRIBUNE(DEL)NPV COM 896047107 2,219 43,000 SH DEFINED 01 43,000 TV AZTECA ADS COM 901145102 288 31,600 SH DEFINED 01 31,600 TXU CORP COM 873168108 1,364 57,500 SH DEFINED 01 57,500 TYCO INT LD COM 902124106 5,963 225,000 SH DEFINED 01 225,000 UNION PAC CORP COM 907818108 2,397 34,500 SH DEFINED 01 34,500 UNISYS CP COM 909214108 446 30,000 SH DEFINED 01 30,000 UNITEDHEALTH GRP COM 910581107 5,411 93,000 SH DEFINED 01 93,000 UPS'B' COM 911312106 2,945 39,500 SH DEFINED 01 39,500 US BANCORP COM 917292104 6,194 208,000 SH DEFINED 01 208,000 UST INC(DEL)$0.50 COM 902911106 696 19,500 SH DEFINED 01 19,500 UTD TECH COM 913017109 5,449 57,500 SH DEFINED 01 57,500 VA LINUX SYSTEMS COM 91819B105 202 51,609 SH SOLE 51,609 VARIAN MED SYST COM 92220P105 484 7,000 SH DEFINED 01 7,000 VERITAS SFTWRE NPV COM 923436109 1,672 45,000 SH DEFINED 01 45,000 VERIZON COMM COM 92343V104 9,612 274,000 SH DEFINED 01 274,000 VIACOM N.VTG'B' COM 925524308 8,876 200,000 SH DEFINED 01 200,000 W.DISNEY HDS DIS COM 254687106 5,179 222,000 SH DEFINED 01 222,000 WACHOVIA CRP USD COM 929903102 8,246 177,000 SH DEFINED 01 177,000 WAL MART STRS$0.10 COM 931142103 18,568 350,000 SH DEFINED 01 350,000 WALGREEN COM 931422109 4,002 110,000 SH DEFINED 01 110,000 WASH MUT COM 939322103 4,092 102,000 SH DEFINED 01 102,000 WASTE MGMT COM 94106L109 2,812 95,000 SH DEFINED 01 95,000 WELLPOINT$0.01 COM 94973H108 1,891 19,500 SH DEFINED 01 19,500 WELLS FARGO COM 949746101 10,600 180,000 SH DEFINED 01 180,000 WEYERHAEUSER COM 962166104 1,888 29,500 SH DEFINED 01 29,500 WHIRLPOOL CORP! COM 963320106 581 8,000 SH DEFINED 01 8,000 WYETH COM 983024100 5,519 130,000 SH DEFINED 01 130,000 X1LINX!0.01 COM 983919101 1,550 40,000 SH DEFINED 01 40,000 XEROX CORP!1 COM 984121103 1,173 85,000 SH DEFINED 01 85,000 YAHOO INC COM 984332106 2,259 50,000 SH DEFINED 01 50,000 ZIMMER HOLDINGS COM 98956P102 2,112 30,000 SH DEFINED 01 30,000 TOTAL 1,098,764