UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 13F
Form 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: March 31, 2005
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 3rd May 2005
------------------ ------------------ ------------------
[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: 390
------------
Form 13F Information Table Value Total: $ 1,166,752
------------
(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
MARCH 31, 2005
TITLE
OF VALUE SHARES SH/ INVESTMENT VOTING AUTHORITY
ISSUER CLASS CUSIP (x$1000) /PRN AMT PRN DISCRETION MANAGERS SOLE SHARED NONE
3M COM 88579Y101 6855 80000 SH DEFINED 01 80000
ABBOTT LABORATORIES COM 002824100 8159 175000 SH DEFINED 01 175000
ACE LTD COM G0070K103 1238 30000 SH DEFINED 01 30000
ADOBE SYS COM 00724F101 2015 30000 SH DEFINED 01 30000
ADVANCED MICRO DEVICES COM 007903107 790 49000 SH DEFINED 01 49000
AES CORP COM 00130H105 1245 76000 SH DEFINED 01 76000
AETNA COM 00817Y108 2698 36000 SH DEFINED 01 36000
AFFILIATED COMPUTER SERVICES COM 008190100 745 14000 SH DEFINED 01 14000
AFLAC COM 001055102 1956 52500 SH DEFINED 01 52500
AGILENT TECHNOLOGIES COM 00846U101 1332 60000 SH DEFINED 01 60000
AIR PRODUCTS & CHEMS COM 009158106 1582 25000 SH DEFINED 01 25000
ALBERTSONS COM 013104104 723 35000 SH DEFINED 01 35000
ALCOA COM 013817101 2674 88000 SH DEFINED 01 88000
ALLEGHENY ENERGY COM 017361106 826 40000 SH DEFINED 01 40000
ALLEGHENY TECHNOLOGIES COM 01741R102 241 10000 SH DEFINED 01 10000
ALLOS THERAPEUTICS COM STK USD COM 019777101 91 44172 SH SOLE 44172
ALLSTATE COM 020002101 4595 85000 SH DEFINED 01 85000
ALLTEL COM 020039103 1810 33000 SH DEFINED 01 33000
ALTERA COM 021441100 989 50000 SH DEFINED 01 50000
ALTRIA COM 02209S103 14059 215000 SH DEFINED 01 215000
AMBAC FINANCIAL GRP COM 023139108 860 11500 SH DEFINED 01 11500
AMER ELEC POWER COM 025537101 1362 40000 SH DEFINED 01 40000
AMEREN COM 023608102 980 20000 SH DEFINED 01 20000
AMERICA MOVIL A ADR ADR 02364W204 5250 100000 SH DEFINED 01 100000
AMERICA MOVIL L ADR ADR 02364W105 2786 54000 SH DEFINED 01 54000
AMERICAN EXPRESS COM 025816109 8219 160000 SH DEFINED 01 160000
AMERICAN INTL GROUP COM 026874107 15958 288000 SH DEFINED 01 288000
AMERICAN POWER CONVERSION COM 029066107 522 20000 SH DEFINED 01 20000
AMERICAN STANDARD COM 029712106 1023 22000 SH DEFINED 01 22000
AMGEN COM 031162100 8819 151500 SH DEFINED 01 151500
AMSOUTH BANCORP COM 032165102 908 35000 SH DEFINED 01 35000
ANADARKO PETROLEUM COM 032511107 1903 25000 SH DEFINED 01 25000
ANALOG DEVICES COM 032654105 1446 40000 SH DEFINED 01 40000
ANHEUSER BUSCH COM $US1 COM 035229103 4407 93000 SH DEFINED 01 93000
APACHE COM 037411105 2021 33000 SH DEFINED 01 33000
APPLE COMPUTER COM 037833100 3917 94000 SH DEFINED 01 94000
APPLERA CORP-APPLIED BIOSYS COM 038020103 395 20000 SH DEFINED 01 20000
APPLIED MATERIALS COM 038222105 3096 190500 SH DEFINED 01 190500
APPOLLO COM 037604105 1407 19000 SH DEFINED 01 19000
ARACRUZ CELLULOSA - ADR ADR 038496204 358 10000 SH DEFINED 01 10000
AT & T COMCAST ' A ' COM 20030N101 7769 230000 SH DEFINED 01 230000
AT & T CORP COM 001957505 1555 82909 SH DEFINED 01 82909
AUTO DATA PROCESS COM 053015103 2517 56000 SH DEFINED 01 56000
AUTODESK COM 052769106 744 25000 SH DEFINED 01 25000
AVAYA COM COM 053499109 818 70000 SH DEFINED 01 70000
AVON PRODUCTS COM 054303102 2362 55000 SH DEFINED 01 55000
BAKBONE SOFTWARE ICOM NPV COM 057101107 116 87949 SH SOLE 87949
BAKER HUGHES COM 057224107 2336 52500 SH DEFINED 01 52500
BANCO ITAU ADR ADR 059602201 446 5500 SH DEFINED 01 5500
BANK OF AMERICA COM 060505104 19184 435000 SH DEFINED 01 435000
BANK OF NEW YORK COM COM 064057102 2324 80000 SH DEFINED 01 80000
BAXTER INTERNATIONAL COM 071813109 2124 62500 SH DEFINED 01 62500
BB&T COM 054937107 1954 50000 SH DEFINED 01 50000
BECTON DICKINSON COM 075887109 1461 25000 SH DEFINED 01 25000
BED BATH & BEYOND COM 075896100 1462 40000 SH DEFINED 01 40000
BELLSOUTH COM 079860102 4864 185000 SH DEFINED 01 185000
BEST BUY COM 086516101 2565 47500 SH DEFINED 01 47500
BIOGEN IDEC PHARMACEUTICAL COM 09062X103 1173 34000 SH DEFINED 01 34000
BJ SERVICES COM 055482103 1401 27000 SH DEFINED 01 27000
BLACK & DECKER COM COM 091797100 1777 22500 SH DEFINED 01 22500
BMC SOFTWARE COM 055921100 345 23000 SH DEFINED 01 23000
BOEING COM 097023105 5028 86000 SH DEFINED 01 86000
BOSTON SCIENTIFIC COM 101137107 2929 100000 SH DEFINED 01 100000
BRADESCO - ADR ADR 059460303 711 24500 SH DEFINED 01 24500
BRAZIL TELECOM COM 105530109 408 12500 SH DEFINED 01 12500
BRISTOL MYERS SQUIBB COM 110122108 5092 200000 SH DEFINED 01 200000
BROADCOM CL A COM 111320107 957 32000 SH DEFINED 01 32000
BURLINGTON NTH SANTA COM 12189T104 2750 51000 SH DEFINED 01 51000
BURLINGTON RESOURCES COM 122014103 3004 60000 SH DEFINED 01 60000
BUTTERFIELD FD MGR THAI EURO COM 335020905 1344 67500 SH DEFINED 01 67500
CALPINE COM 131347106 112 40000 SH DEFINED 01 40000
CAPITAL ONE COM 14040H105 2542 34000 SH DEFINED 01 34000
CARDINAL HEALTH COM 14149Y108 2511 45000 SH DEFINED 01 45000
CAREMARK COM 141705103 1790 45000 SH DEFINED 01 45000
CARNIVAL CORP COM 143658300 3368 65000 SH DEFINED 01 65000
CARSO GLB TEL ADR (2 ORD) ADR 14574P101 518 160000 SH DEFINED 01 160000
CATERPILLAR COM 149123101 3155 34500 SH DEFINED 01 34500
CEMEX ADR PART CER(5 CPO) ADR 151290889 4713 130000 SH DEFINED 01 130000
CEMIG ADR ADR 204409601 228 10000 SH DEFINED 01 10000
CENDANT COM 151313103 2444 119000 SH DEFINED 01 119000
CENTERPOINT ENERGY COM 15189T107 914 76000 SH DEFINED 01 76000
CHEVRON TEXACO COM 166764100 12828 220000 SH DEFINED 01 220000
CHIRON COM 170040109 841 24000 SH DEFINED 01 24000
CHUBB COM 171232101 1585 20000 SH DEFINED 01 20000
CIA SIDERURGICA NACL - SP ADR ADR 20440W105 482 20000 SH DEFINED 01 20000
CIENA COM 171779101 86 50000 SH DEFINED 01 50000
CIGNA COM 125509109 2411 27000 SH DEFINED 01 27000
CINERGY COM 172474108 891 22000 SH DEFINED 01 22000
CINTAS COM 172908105 868 21000 SH DEFINED 01 21000
CISCO SYS COM 17275R102 11933 667000 SH DEFINED 01 667000
CITIGRP COM 172967101 26949 599669 SH DEFINED 01 599669
CITIZENS COMMUNICATIONS COM 17453B101 686 53000 SH DEFINED 01 53000
CITRIX COM 177376100 476 20000 SH DEFINED 01 20000
CLEAR CHANNEL COMM COM 184502102 1896 55000 SH DEFINED 01 55000
COCA COLA COM 191216100 10418 250000 SH DEFINED 01 250000
COCA COLA ENTERPRISES COM 191219104 728 35500 SH DEFINED 01 35500
COHN & STEERS ETF COM 464287564 5873 47000 SH DEFINED 01 47000
COLGATE-PALMOLIVE COM 194162103 2922 56000 SH DEFINED 01 56000
COMERICA COM 200340107 1212 22000 SH DEFINED 01 22000
COMP ASSOC INTL COM 204912109 1653 61000 SH DEFINED 01 61000
COMPANHIA DE VALE RIODOCE ADR ADR 204412209 1739 55000 SH DEFINED 01 55000
COMPUTER SCIENCES COM 205363104 1376 30000 SH DEFINED 01 30000
COMVERSE TECHNOLGY COM 205862402 504 20000 SH DEFINED 01 20000
CONAGRA COM 205887102 1297 48000 SH DEFINED 01 48000
CONOCOPHILLIPS COM 20825C104 8207 76100 SH DEFINED 01 76100
CONSTELLATION ENERGY COM 210371100 905 17500 SH DEFINED 01 17500
CORNING COM 219350105 1503 135000 SH DEFINED 01 135000
COSTCO WHOLESALE COM 22160K105 1988 45000 SH DEFINED 01 45000
COUNTRYWIDE FINANCIAL COM 222372104 1785 55000 SH DEFINED 01 55000
CSX COM 126408103 1000 24000 SH DEFINED 01 24000
CUMMINS ENGINE COM 231021106 352 5000 SH DEFINED 01 5000
CVS COM 126650100 2631 50000 SH DEFINED 01 50000
DANAHER COM 235851102 1682 31500 SH DEFINED 01 31500
DEERE & CO COM 244199105 1745 26000 SH DEFINED 01 26000
DELL INC COM 24702R101 9759 254000 SH DEFINED 01 254000
DEVON ENERGY COM 25179M103 3104 65000 SH DEFINED 01 65000
DISNEY(WALT) COM 254687106 6752 235000 SH DEFINED 01 235000
DOLLAR GENERAL COM COM 256669102 1315 60000 SH DEFINED 01 60000
DOMINION RESOURCES COM 25746U109 1935 26000 SH DEFINED 01 26000
DOVER CORP COM 260003108 756 20000 SH DEFINED 01 20000
DOW CHEMICAL COM 260543103 4816 96600 SH DEFINED 01 96600
DSL.NET INC COM STK USD0.0005 COM 262506108 380 2921050 SH SOLE 2921050
DTE ENERGY COM 233331107 637 14000 SH DEFINED 01 14000
DU PONT (EI) DE NEMOURS COM 263534109 5380 105000 SH DEFINED 01 105000
DUKE ENERGY COM 264399106 2675 95500 SH DEFINED 01 95500
EASTMAN KODAK COM 277461109 977 30000 SH DEFINED 01 30000
EATON CORP COM 278058102 1027 15700 SH DEFINED 01 15700
EBAY COM 278642103 4918 132000 SH DEFINED 01 132000
ECOLAB INC COM 278865100 1322 40000 SH DEFINED 01 40000
EDISON INTERNATIONAL COM 281020107 1562 45000 SH DEFINED 01 45000
EL PASO COM 28336L109 794 75000 SH DEFINED 01 75000
ELECTRONIC ARTS COM 285512109 1553 30000 SH DEFINED 01 30000
ELECTRONIC DATA SYST COM COM 285661104 1075 52000 SH DEFINED 01 52000
EMC COM 268648102 3203 260000 SH DEFINED 01 260000
EMERSON ELEC COM 291011104 2597 40000 SH DEFINED 01 40000
ENGELHARD COM 292845104 450 15000 SH DEFINED 01 15000
ENTERGY COM 29364G103 2473 35000 SH DEFINED 01 35000
EOG RESOURCES COM 26875P101 1950 40000 SH DEFINED 01 40000
EXELON COM 30161N101 3671 80000 SH DEFINED 01 80000
EXPRESS SCRIPTS COM 302182100 698 8000 SH DEFINED 01 8000
EXXON MOBIL COM 30231G102 39485 662500 SH DEFINED 01 662500
FANNIE MAE COM 313586109 5581 102500 SH DEFINED 01 102500
FEDERATED DEPT STORES COM 31410H101 1273 20000 SH DEFINED 01 20000
FEDEX COM 31428X106 3053 32500 SH DEFINED 01 32500
FIFTH THIRD BANCORP COM 316773100 2579 60000 SH DEFINED 01 60000
FIRST DATA COM 319963104 3499 89000 SH DEFINED 01 89000
FIRST ENERGY COM 337932107 1426 34000 SH DEFINED 01 34000
FISERV COM 337738108 1194 30000 SH DEFINED 01 30000
FLUOR COM 343412102 499 9000 SH DEFINED 01 9000
FOMENTO MEXACDR(1B2DB2DL) COM 344419106 2142 40000 SH DEFINED 01 40000
FORD MOTOR (NEW) COM 345370860 1926 170000 SH DEFINED 01 170000
FOREST LABS COM 345838106 1423 38500 SH DEFINED 01 38500
FPL GROUP COM 302571104 1606 40000 SH DEFINED 01 40000
FRANKLIN RESOURCES COM 354613101 1922 28000 SH DEFINED 01 28000
FREDDIE MAC COM 313400301 4424 70000 SH DEFINED 01 70000
FREEPORT MCMORAN COPPER COM 35671D857 1228 31000 SH DEFINED 01 31000
FREESCALE SEMI CONDUCTOR COM 35687M206 794 46000 SH DEFINED 01 46000
GANNETT COM 364730101 3163 40000 SH DEFINED 01 40000
GAP COM 364760108 1966 90000 SH DEFINED 01 90000
GEDEON RICHTER GDR GDR 368467205 3009 22000 SH DEFINED 01 22000
GENENTECH COM 368710406 991 17500 SH DEFINED 01 17500
GENERAL DYNAMICS COM 369550108 2141 20000 SH DEFINED 01 20000
GENERAL ELECTRIC COM 369604103 39666 1100000 SH DEFINED 01 1100000
GENERAL MILLS COM 370334104 2458 50000 SH DEFINED 01 50000
GENERAL MOTORS COM COM 370442105 1396 47500 SH DEFINED 01 47500
GENUINE PARTS COM 372460105 1218 28000 SH DEFINED 01 28000
GENZYME COM 372917104 1431 25000 SH DEFINED 01 25000
GEORGIA PACIFIC COM 373298108 1278 36000 SH DEFINED 01 36000
GERDAU - ADR ADR 373737105 165 10000 SH DEFINED 01 10000
GILEAD SCIENCES COM 375558103 1575 44000 SH DEFINED 01 44000
GILLETTE COM 375766102 5048 100000 SH DEFINED 01 100000
GOLDEN WEST FINL COM 381317106 2420 40000 SH DEFINED 01 40000
GOLDMAN SACHS COM 38141G104 6159 56000 SH DEFINED 01 56000
GPO CARSO ADR (2 A1) ADR 400485207 1020 100000 SH DEFINED 01 100000
GPO TELE GDR (2 PTG CERT) GDR 40049J206 2646 45000 SH DEFINED 01 45000
GRAINGER WW INC COM 384802104 903 14500 SH DEFINED 01 14500
GUIDANT SHS COM 401698105 2365 32000 SH DEFINED 01 32000
H & R BLOCK COM 093671105 910 18000 SH DEFINED 01 18000
HALLIBURTON COM 406216101 2811 65000 SH DEFINED 01 65000
HARLEY DAVIDSON COM 412822108 2224 38500 SH DEFINED 01 38500
HARRAH'S ENTERTAINMENT COM 413619107 743 11500 SH DEFINED 01 11500
HARTFORD FINL SERV COM 416515104 2057 30000 SH DEFINED 01 30000
HASBRO COM 418056107 409 20000 SH DEFINED 01 20000
HCA COM 404119109 2920 54500 SH DEFINED 01 54500
HEALTH MANAGEMENT ASSOCIATES COM 421933102 785 30000 SH DEFINED 01 30000
HEINZ (HJ) COM 423074103 1934 52500 SH DEFINED 01 52500
HELLENIC TELE ADR (OTE) ADR 423325307 244 27778 SH DEFINED 01 27778
HERSHEY COM 427866108 1693 28000 SH DEFINED 01 28000
HEWLETT PACKARD COM 428236103 6736 307000 SH DEFINED 01 307000
HILTON HOTELS COM 432848109 1118 50000 SH DEFINED 01 50000
HOME DEPOT COM 437076102 9178 240000 SH DEFINED 01 240000
HONEYWELL INTL COM $US1 COM 438516106 3070 82500 SH DEFINED 01 82500
HOSPIRA COM 441060100 532 16500 SH DEFINED 01 16500
ILLINOIS TOOL WKS COM 452308109 2775 31000 SH DEFINED 01 31000
IMS HEALTH COM 449934108 732 30000 SH DEFINED 01 30000
INGERSOLL RAND CL A COM G4776G101 1912 24000 SH DEFINED 01 24000
INTEL COM 458140100 15041 647500 SH DEFINED 01 647500
INTERMIX MEDIA INC COM STK USD COM 45881X106 381 51800 SH SOLE 51800
INTERNATIONAL PAPER COM 460146103 1545 42000 SH DEFINED 01 42000
INTL BUSINESS MACHN COM 459200101 15398 168500 SH DEFINED 01 168500
INTUIT COM 461202103 875 20000 SH DEFINED 01 20000
IONA TECH ADR (1 ORD) ADR 46206P109 260 65000 SH DEFINED 01 65000
ITT INDUSTRIES COM 450911102 1805 20000 SH DEFINED 01 20000
JABIL CIRCUIT COM 466313103 856 30000 SH DEFINED 01 30000
JC PENNEY COM 708160106 1350 26000 SH DEFINED 01 26000
JDS UNIPHASE COM 46612J101 234 140000 SH DEFINED 01 140000
JOHNSON & JOHNSON COM 478160104 20484 305000 SH DEFINED 01 305000
JOHNSON CONTROLS COM 478366107 1673 30000 SH DEFINED 01 30000
JP MORGAN CHASE COM COM 46625H100 12383 357900 SH DEFINED 01 357900
KB HOME COM 48666K109 587 5000 SH DEFINED 01 5000
KELLOGG COM 487836108 2164 50000 SH DEFINED 01 50000
KERR MCGEE COM 492386107 1175 15000 SH DEFINED 01 15000
KEYCORP COM 493267108 1460 45000 SH DEFINED 01 45000
KIMBERLY CLARK COM COM 494368103 3155 48000 SH DEFINED 01 48000
KLA TENCOR COM 482480100 966 21000 SH DEFINED 01 21000
KOHLS COM 500255104 1807 35000 SH DEFINED 01 35000
KROGER COM 501044101 1234 77000 SH DEFINED 01 77000
LEHMAN BROS HDG COM 524908100 3390 36000 SH DEFINED 01 36000
LEXMARK INTERNATIONAL COM 529771107 1200 15000 SH DEFINED 01 15000
LILLY(ELI) & CO COM 532457108 5992 115000 SH DEFINED 01 115000
LIMITED COM 532716107 1215 50000 SH DEFINED 01 50000
LINCOLN NATIONAL COM COM 534187109 903 20000 SH DEFINED 01 20000
LINEAR TECHNOLOGY COM 535678106 1341 35000 SH DEFINED 01 35000
LOCKHEED MARTIN COM COM 539830109 3236 53000 SH DEFINED 01 53000
LOWES COM 548661107 5994 105000 SH DEFINED 01 105000
LSI LOGIC COM 502161102 252 45000 SH DEFINED 01 45000
LUCENT TECH COM 549463107 1155 420000 SH DEFINED 01 420000
M&T BANK COM 55261F104 1531 15000 SH DEFINED 01 15000
MARATHON OIL COM 565849106 2111 45000 SH DEFINED 01 45000
MARRIOTT INTERNATIONAL COM 571903202 2674 40000 SH DEFINED 01 40000
MARSHALL & ISLEY COM 571834100 1253 30000 SH DEFINED 01 30000
MASCO COM 574599106 1560 45000 SH DEFINED 01 45000
MATTEL COM 577081102 854 40000 SH DEFINED 01 40000
MAXIM INTEGRATED COM 57772K101 1349 33000 SH DEFINED 01 33000
MBIA INC COM 55262C100 784 15000 SH DEFINED 01 15000
MBNA COM 55262L100 3192 130000 SH DEFINED 01 130000
McCORMICK COM 579780206 516 15000 SH DEFINED 01 15000
MCDONALDS COM 580135101 4515 145000 SH DEFINED 01 145000
MCGRAW HILL COM 580645109 2007 23000 SH DEFINED 01 23000
MCKESSON COM 58155Q103 1321 35000 SH DEFINED 01 35000
MEADWESTVACO COM 583334107 955 30000 SH DEFINED 01 30000
MEDCO COM 58405U102 1388 28000 SH DEFINED 01 28000
MEDIMMUNE COM 584699102 583 24500 SH DEFINED 01 24500
MEDTRONIC COM 585055106 6267 123000 SH DEFINED 01 123000
MELLON FINANCIAL COM 58551A108 1213 42500 SH DEFINED 01 42500
MERCK COM 589331107 7364 227500 SH DEFINED 01 227500
MERCURY INTERACTIVE COM 589405109 545 11500 SH DEFINED 01 11500
MERRILL LYNCH COM 590188108 5122 90500 SH DEFINED 01 90500
MET LIFE COM 59156R108 3402 87000 SH DEFINED 01 87000
MICRON TECHNOLOGY COM 595112103 641 62000 SH DEFINED 01 62000
MICROSOFT COM 594918104 25330 1048000 SH DEFINED 01 1048000
MOLEX COM 608554101 527 20000 SH DEFINED 01 20000
MONSANTO COM 61166W101 1774 27500 SH DEFINED 01 27500
MONSTER WORLDWIDE COM 611742107 365 13000 SH DEFINED 01 13000
MOODY'S COM COM 615369105 2628 32500 SH DEFINED 01 32500
MORGAN ST DEAN WIT COM 617446448 6412 112000 SH DEFINED 01 112000
MOTOROLA COM 620076109 3705 247500 SH DEFINED 01 247500
NATIONAL CITY CORP COM 635405103 2178 65000 SH DEFINED 01 65000
NATL SEMICONDUCTOR COM 637640103 752 36500 SH DEFINED 01 36500
NATUZZI ADR (1 ORD) ADR 63905A101 1884 181340 SH DEFINED 01 181340
NETWORK APPL COM 64120L104 1134 41000 SH DEFINED 01 41000
NEW YORK TIMES A COM 650111107 530 14500 SH DEFINED 01 14500
NEWELL RUBBERMAID COM 651229106 658 30000 SH DEFINED 01 30000
NEWMONT MINING COM 651639106 2746 65000 SH DEFINED 01 65000
NEWS CORP - ORD COM 6524BE104 5371 305000 SH DEFINED 01 305000
NEXTEL COMMS CL A COM 65332V103 3211 113000 SH DEFINED 01 113000
NIKE B COM 654106103 2083 25000 SH DEFINED 01 25000
NOBLE CORP COM G65422100 1546 27500 SH DEFINED 01 27500
NORFOLK SOUTHERN COM 655844108 1667 45000 SH DEFINED 01 45000
NORTH FORK BANCORP COM 659424105 2725 98250 SH DEFINED 01 98250
NORTHERN TRUST COM 665859104 1303 30000 SH DEFINED 01 30000
NORTHROP GRUMMAN COM 666807102 1943 36000 SH DEFINED 01 36000
NOVELL COM 670006105 215 36000 SH DEFINED 01 36000
NOVELLUS SYSTEMS COM 670008101 401 15000 SH DEFINED 01 15000
NUCOR COM 670346105 1439 25000 SH DEFINED 01 25000
OCCIDENTAL PETROLEUM COM 674599105 3203 45000 SH DEFINED 01 45000
OMNICOM GRP COM 681919106 1956 22100 SH DEFINED 01 22100
ORACLE COM 68389X105 5741 460000 SH DEFINED 01 460000
ORBOTECH COM COM M75253100 1369 62500 SH DEFINED 01 62500
P G & E COM 69331C108 2217 65000 SH DEFINED 01 65000
PARKER HANNIFIN COM 701094104 609 10000 SH DEFINED 01 10000
PAYCHEX COM 704326107 1198 36500 SH DEFINED 01 36500
PEPSI BOTTLING GROUP COM 713409100 696 25000 SH DEFINED 01 25000
PEPSICO CAP COM 713448108 10733 202400 SH DEFINED 01 202400
PETROBAS 'A' - ADR ADR 71654V408 2319 52500 SH DEFINED 01 52500
PFIZER COM 717081103 20485 779800 SH DEFINED 01 779800
PHELPS DODGE COM COM 717265102 1017 10000 SH DEFINED 01 10000
PHOENIX COMPANIES COM 71902E109 1301 101817 SH SOLE 101817
PITNEY BOWES COM 724479100 1128 25000 SH DEFINED 01 25000
PIXELWORKS INC COM STK USD0.01 COM 72581M107 135 16625 SH SOLE 16625
PPG INDUSTRIES COM 693506107 1430 20000 SH DEFINED 01 20000
PPL COM 69351T106 1080 20000 SH DEFINED 01 20000
PRAXAIR COM 74005P104 1579 33000 SH DEFINED 01 33000
PRINCIPAL FINANCIAL GROUP COM 74251V102 1347 35000 SH DEFINED 01 35000
PROCTER & GAMBLE COM 742718109 16165 305000 SH DEFINED 01 305000
PROGRESS ENERGY COM 743263105 839 20000 SH DEFINED 01 20000
PROGRESSIVE CORP COM 743315103 2110 23000 SH DEFINED 01 23000
PROKOM SOFT GDR REGS GDR 743394207 700 35000 SH DEFINED 01 35000
PRUDENTIAL FINANCIAL COM 744320102 4305 75000 SH DEFINED 01 75000
PUBLIC SERVICE ENT COM 744573106 1333 24500 SH DEFINED 01 24500
PULTE HOME COM 745867101 957 13000 SH DEFINED 01 13000
QLOGIC COM 747277101 405 10000 SH DEFINED 01 10000
QUALCOMM COM 747525103 6414 175000 SH DEFINED 01 175000
QUEST DIAGNOSTICS COM 74834L100 1104 10500 SH DEFINED 01 10500
QWEST COMMS INTL COM 749121109 685 185000 SH DEFINED 01 185000
RADIOSHACK COM 750438103 392 16000 SH DEFINED 01 16000
RAYTHEON COM 755111507 1935 50000 SH DEFINED 01 50000
ROBERT HALF COM 770323103 512 19000 SH DEFINED 01 19000
ROC TAIWAN FUND SBI COM 874037104 651 132882 SH DEFINED 01 132882
ROCKWELL AUTOMATION COM 773903109 1133 20000 SH DEFINED 01 20000
ROCKWELL COLLINS COM 774341101 952 20000 SH DEFINED 01 20000
ROHM & HAAS COM 775371107 1680 35000 SH DEFINED 01 35000
RR DONNELLEY & SONS COM 257867101 696 22000 SH DEFINED 01 22000
SAFEWAY COM 786514208 834 45000 SH DEFINED 01 45000
SANMINA-SCI CORPORATION COM 800907107 287 55000 SH DEFINED 01 55000
SARA LEE COM 803111103 1108 50000 SH DEFINED 01 50000
SBC COMMUNICATIONS COM 78387G103 7936 335000 SH DEFINED 01 335000
SCHERING PLOUGH COM 806605101 2723 150000 SH DEFINED 01 150000
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