2.
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, 2004
Check here if Amendment [ ]; Amendment Number: _______________
This Amendment (Check only one): [ ] is a restatement
[ ] adds new holdings entries.
Institutional Investment Manager Filing this Report:
Intel Corporation
2200 Mission College Boulevard
Santa Clara, CA 95052-8119
Form 13F File Number: 28-04527
Person Signing this Report on Behalf of Reporting Manager:
Arvind Sodhani, Vice President and Treasurer (408) 765-1240
---------------------------------------------------------------
ATTENTION--Intentional misstatements or omissions of facts
constitute Federal Criminal Violations. See 18 U.S.C. 1001 and
15 U.S.C. 78ff(a)
---------------------------------------------------------------
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.
Signature, Place and Date of Signing:
/S/Arvind Sodhani Santa Clara, California May 14, 2004
-------------------
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 manager(s).)
Form 13F SUMMARY PAGE
REPORTING MANAGER: INTEL CORPORATION
Report Summary:
Number of Other Included Managers: -0-
Form 13F Information Table Entry Total: 341
Form 13F Information Table Value Total: $882,471
FORM 13F INFORMATION TABLE
REPORTING MANAGER: INTEL CORPORATION
ITEM 4: ITEM 5:
FAIR SHARES ITEM 8:
ITEM 2: ITEM 3: MARKET OR ITEM 6: VOTING AUTHORITY
ITEM 1: TITLE OF CUSIP VALUE PRINCIPAL SH/ INVESTMENT ITEM 7: (A) (B) (C)
NAME OF ISSUER CLASS NUMBER (000) AMOUNT PRN DISCRETION MANAGERS SOLE SHARED NONE
AFLAC INC COM 001055102 612 15,250 SH SOLE 15,250
AT&T CORP COM NEW 001957505 462 23,621 SH SOLE 23,621
ABBOTT LABS COM 002824100 1,913 46,544 SH SOLE 46,544
ADVANCED MICRO DEVICES INC COM 007903107 168 10,350 SH SOLE 10,350
AIR PRODS & CHEMS INC COM 009158106 341 6,800 SH SOLE 6,800
ALBERTSONS INC COM 013104104 241 10,901 SH SOLE 10,901
ALCOA INC COM 013817101 900 25,952 SH SOLE 25,952
ALLERGAN INC COM 018490102 328 3,900 SH SOLE 3,900
ALLSTATE CORP COM 020002101 954 20,980 SH SOLE 20,980
ALLTEL CORP COM 020039103 464 9,300 SH SOLE 9,300
ALTERA CORP COM 021441100 231 11,300 SH SOLE 11,300
AMBAC FINL GROUP INC COM 023139108 236 3,200 SH SOLE 3,200
AMEREN CORP COM 023608102 249 5,400 SH SOLE 5,400
AMERICAN ELEC PWR INC COM 025537101 388 11,782 SH SOLE 11,782
AMERICAN EXPRESS CO COM 025816109 1,988 38,350 SH SOLE 38,350
AMERICAN INTL GROUP INC COM 026874107 5,547 77,743 SH SOLE 77,743
AMERICAN STD COS INC DEL COM 029712106 250 2,200 SH SOLE 2,200
AMGEN INC COM 031162100 2,235 38,435 SH SOLE 38,435
AMSOUTH BANCORPORATION COM 032165102 247 10,500 SH SOLE 10,500
ANADARKO PETE CORP COM 032511107 389 7,493 SH SOLE 7,493
ANALOG DEVICES INC COM 032654105 533 11,100 SH SOLE 11,100
ANHEUSER BUSCH COS INC COM 035229103 1,239 24,300 SH SOLE 24,300
AON CORP COM 037389103 261 9,356 SH SOLE 9,356
APACHE CORP COM 037411105 418 9,688 SH SOLE 9,688
APOLLO GROUP INC CL A 037604105 448 5,200 SH SOLE 5,200
APPLE COMPUTER INC COM 037833100 297 11,000 SH SOLE 11,000
APPLIED MATLS INC COM 038222105 1,069 50,100 SH SOLE 50,100
ARCHER DANIELS MIDLAND CO COM 039483102 325 19,267 SH SOLE 19,267
AUTOMATIC DATA PROCESSING IN COM 053015103 739 17,602 SH SOLE 17,602
Page Fair Market Value 23,472 537,614
AUTOZONE INC COM 053332102 224 2,600 SH SOLE 2,600
AVAYA INC COM 053499109 200 12,621 SH SOLE 12,621
AVERY DENNISON CORP COM 053611109 205 3,300 SH SOLE 3,300
AVON PRODS INC COM 054303102 532 7,014 SH SOLE 7,014
BB&T CORP COM 054937107 575 16,300 SH SOLE 16,300
BJ SVCS CO COM 055482103 203 4,700 SH SOLE 4,700
BAKER HUGHES INC COM 057224107 363 9,960 SH SOLE 9,960
BANK OF AMERICA CORPORATION COM 060505104 3,500 43,217 SH SOLE 43,217
BANK NEW YORK INC COM 064057102 726 23,040 SH SOLE 23,040
BAXTER INTL INC COM 071813109 560 18,140 SH SOLE 18,140
BEAR STEARNS COS INC COM 073902108 270 3,074 SH SOLE 3,074
BECTON DICKINSON & CO COM 075887109 364 7,500 SH SOLE 7,500
BED BATH & BEYOND INC COM 075896100 373 8,900 SH SOLE 8,900
BELLSOUTH CORP COM 079860102 1,511 54,582 SH SOLE 54,582
BEST BUY INC COM 086516101 502 9,700 SH SOLE 9,700
BIOMET INC COM 090613100 293 7,650 SH SOLE 7,650
BLOCK H & R INC COM 093671105 270 5,300 SH SOLE 5,300
BOEING CO COM 097023105 1,031 25,115 SH SOLE 25,115
BOSTON SCIENTIFIC CORP COM 101137107 1,033 24,384 SH SOLE 24,384
BRISTOL MYERS SQUIBB CO COM 110122108 1,402 57,846 SH SOLE 57,846
BROADCOM CORP CL A 111320107 2,246 57,588 SH SOLE 57,588
BURLINGTON RES INC COM 122014103 374 5,872 SH SOLE 5,872
CIGNA CORP COM 125509109 248 4,200 SH SOLE 4,200
CVS CORP COM 126650100 417 11,800 SH SOLE 11,800
CALPINE CORP COM 131347106 57 12,300 SH SOLE 12,300
CAMPBELL SOUP CO COM 134429109 333 12,200 SH SOLE 12,200
CAREMARK RX INC COM 141705103 442 13,300 SH SOLE 13,300
CARNIVAL CORP PAIRED 143658300 844 18,800 SH SOLE 18,800
CTF
CATERPILLAR INC DEL COM 149123101 822 10,390 SH SOLE 10,390
Page Fair Market Value 19,920 491,393
CENDANT CORP COM 151313103 731 29,981 SH SOLE 29,981
CENTEX CORP COM 152312104 200 3,700 SH SOLE 3,700
CHARTER ONE FINL INC COM 160903100 233 6,588 SH SOLE 6,588
CHEVRONTEXACO CORP COM 166764100 2,795 31,840 SH SOLE 31,840
CHIRON CORP COM 170040109 246 5,600 SH SOLE 5,600
CHUBB CORP COM 171232101 386 5,550 SH SOLE 5,550
CIENA CORP COM 171779101 71 14,200 SH SOLE 14,200
CINCINNATI FINL CORP COM 172062101 209 4,800 SH SOLE 4,800
CINERGY CORP COM 172474108 217 5,300 SH SOLE 5,300
CINTAS CORP COM 172908105 222 5,100 SH SOLE 5,100
CITIGROUP INC COM 172967101 7,936 153,493 SH SOLE 153,493
CLEAR CHANNEL COMMUNICATIONS COM 184502102 775 18,300 SH SOLE 18,300
CLOROX CO DEL COM 189054109 308 6,300 SH SOLE 6,300
COCA COLA CO COM 191216100 3,662 72,808 SH SOLE 72,808
COCA COLA ENTERPRISES INC COM 191219104 331 13,700 SH SOLE 13,700
COLGATE PALMOLIVE CO COM 194162103 876 15,900 SH SOLE 15,900
COMERICA INC COM 200340107 282 5,200 SH SOLE 5,200
COMPUTER ASSOC INTL INC COM 204912109 466 17,350 SH SOLE 17,350
COMPUTER SCIENCES CORP COM 205363104 226 5,600 SH SOLE 5,600
COMPUWARE CORP COM 205638109 85 11,500 SH SOLE 11,500
CONAGRA FOODS INC COM 205887102 431 16,000 SH SOLE 16,000
CONSOLIDATED EDISON INC COM 209115104 295 6,700 SH SOLE 6,700
CONSTELLATION ENGY GRP I COM 210371100 200 5,000 SH SOLE 5,000
CORNING INC COM 219350105 449 40,150 SH SOLE 40,150
COUNTRYWIDE FINANCIAL CORP COM 222372104 524 5,466 SH SOLE 5,466
DTE ENERGY CO COM 233331107 206 5,000 SH SOLE 5,000
DANAHER CORP DEL COM 235851102 430 4,600 SH SOLE 4,600
DEERE & CO COM 244199105 506 7,300 SH SOLE 7,300
DELPHI CORP COM 247126105 166 16,658 SH SOLE 16,658
Page Fair Market Value 23,464 539,684
DISNEY WALT CO COM 254687106 1,525 61,012 SH SOLE 61,012
DISNEY
DOLLAR GEN CORP COM 256669102 192 10,018 SH SOLE 10,018
DOVER CORP COM 260003108 236 6,100 SH SOLE 6,100
DOW CHEM CO COM 260543103 1,120 27,793 SH SOLE 27,793
DU PONT E I DE NEMOURS & CO COM 263534109 1,256 29,750 SH SOLE 29,750
DUKE ENERGY CORP COM 264399106 611 27,046 SH SOLE 27,046
E M C CORP MASS COM 268648102 980 72,004 SH SOLE 72,004
EASTMAN KODAK CO COM 277461109 224 8,550 SH SOLE 8,550
EATON CORP COM 278058102 253 4,500 SH SOLE 4,500
EBAY INC COM 278642103 1,330 19,200 SH SOLE 19,200
ECOLAB INC COM 278865100 220 7,700 SH SOLE 7,700
EDISON INTL COM 281020107 236 9,700 SH SOLE 9,700
ELECTRONIC ARTS INC COM 285512109 478 8,900 SH SOLE 8,900
ELECTRONIC DATA SYS NEW COM 285661104 277 14,300 SH SOLE 14,300
EMERSON ELEC CO COM 291011104 752 12,550 SH SOLE 12,550
EQUITY OFFICE PROPERTIES TRU COM 294741103 344 11,900 SH SOLE 11,900
FPL GROUP INC COM 302571104 368 5,500 SH SOLE 5,500
FEDERAL HOME LN MTG CORP COM 313400301 1,210 20,482 SH SOLE 20,482
FEDERAL NATL MTG ASSN COM 313586109 2,152 28,950 SH SOLE 28,950
FIFTH THIRD BANCORP COM 316773100 930 16,792 SH SOLE 16,792
FIRST DATA CORP COM 319963104 1,114 26,429 SH SOLE 26,429
FISERV INC COM 337738108 207 5,800 SH SOLE 5,800
FIRSTENERGY CORP COM 337932107 383 9,800 SH SOLE 9,800
FLEET BOSTON FINL CORP COM 339030108 1,430 31,858 SH SOLE 31,858
FORD MTR CO DEL COM PAR 345370860 740 54,515 SH SOLE 54,515
$0.01
FOREST LABS INC COM 345838106 788 11,000 SH SOLE 11,000
FORTUNE BRANDS INC COM 349631101 336 4,386 SH SOLE 4,386
FRANKLIN RES INC COM 354613101 412 7,400 SH SOLE 7,400
Page Fair Market Value 20,104 553,935
GANNETT INC COM 364730101 714 8,100 SH SOLE 8,100
GAP INC DEL COM 364760108 586 26,725 SH SOLE 26,725
GATEWAY INC COM 367626108 59 11,200 SH SOLE 11,200
GENERAL DYNAMICS CORP COM 369550108 527 5,900 SH SOLE 5,900
GENERAL ELEC CO COM 369604103 9,271 303,784 SH SOLE 303,784
GENERAL MLS INC COM 370334104 523 11,200 SH SOLE 11,200
GENERAL MTRS CORP COM 370442105 790 16,774 SH SOLE 16,774
GENZYME CORP COM GENL 372917104 313 6,700 SH SOLE 6,700
DIV
GEORGIA PAC CORP COM 373298108 253 7,518 SH SOLE 7,518
GILLETTE CO COM 375766102 1,175 30,050 SH SOLE 30,050
GOLDEN WEST FINL CORP DEL COM 381317106 509 4,550 SH SOLE 4,550
GUIDANT CORP COM 401698105 589 9,300 SH SOLE 9,300
HCA INC COM 404119109 599 14,750 SH SOLE 14,750
HALLIBURTON CO COM 406216101 398 13,100 SH SOLE 13,100
HARLEY DAVIDSON INC COM 412822108 480 9,000 SH SOLE 9,000
HARTFORD FINL SVCS GROUP INC COM 416515104 554 8,700 SH SOLE 8,700
HEINZ H J CO COM 423074103 392 10,500 SH SOLE 10,500
HERSHEY FOODS CORP COM 427866108 323 3,900 SH SOLE 3,900
HEWLETT PACKARD CO COM 428236103 2,077 90,916 SH SOLE 90,916
HILTON HOTELS CORP COM 432848109 184 11,300 SH SOLE 11,300
HOME DEPOT INC COM 437076102 2,531 67,750 SH SOLE 67,750
HONEYWELL INTL INC COM 438516106 865 25,557 SH SOLE 25,557
ITT INDS INC IND COM 450911102 206 2,700 SH SOLE 2,700
ILLINOIS TOOL WKS INC COM 452308109 729 9,200 SH SOLE 9,200
INTERNATIONAL BUSINESS MACHS COM 459200101 4,649 50,618 SH SOLE 50,618
INTERNATIONAL GAME TECHNOLOG COM 459902102 463 10,300 SH SOLE 10,300
INTL PAPER CO COM 460146103 605 14,316 SH SOLE 14,316
INTERPUBLIC GROUP COS INC COM 460690100 191 12,400 SH SOLE 12,400
Page Fair Market Value 30,555 796,808
INTUIT COM 461202103 263 5,900 SH SOLE 5,900
JEFFERSON PILOT CORP COM 475070108 232 4,225 SH SOLE 4,225
JOHNSON & JOHNSON COM 478160104 4,487 88,466 SH SOLE 88,466
JOHNSON CTLS INC COM 478366107 331 5,600 SH SOLE 5,600
KLA-TENCOR CORP COM 482480100 292 5,800 SH SOLE 5,800
KELLOGG CO COM 487836108 482 12,280 SH SOLE 12,280
KEYCORP NEW COM 493267108 378 12,484 SH SOLE 12,484
KIMBERLY CLARK CORP COM 494368103 940 14,900 SH SOLE 14,900
KOHLS CORP COM 500255104 488 10,100 SH SOLE 10,100
KROGER CO COM 501044101 369 22,150 SH SOLE 22,150
LSI LOGIC CORP COM 502161102 106 11,300 SH SOLE 11,300
LEHMAN BROS HLDGS INC COM 524908100 688 8,300 SH SOLE 8,300
LEXMARK INTL NEW CL A 529771107 350 3,800 SH SOLE 3,800
LILLY ELI & CO COM 532457108 2,238 33,450 SH SOLE 33,450
LIMITED BRANDS INC COM 532716107 308 15,406 SH SOLE 15,406
LINCOLN NATL CORP IND COM 534187109 251 5,300 SH SOLE 5,300
LINEAR TECHNOLOGY CORP COM 535678106 345 9,300 SH SOLE 9,300
LOCKHEED MARTIN CORP COM 539830109 614 13,444 SH SOLE 13,444
LOEWS CORP COM 540424108 325 5,500 SH SOLE 5,500
LOWES COS INC COM 548661107 1,313 23,400 SH SOLE 23,400
LUCENT TECHNOLOGIES INC COM 549463107 522 126,911 SH SOLE 126,911
MARATHON OIL CORP COM 565849106 310 9,200 SH SOLE 9,200
MARSH & MCLENNAN COS INC COM 571748102 730 15,758 SH SOLE 15,758
MARSHALL & ILSLEY CORP COM 571834100 253 6,700 SH SOLE 6,700
MARRIOTT INTL INC NEW CL A 571903202 294 6,900 SH SOLE 6,900
MASCO CORP COM 574599106 411 13,500 SH SOLE 13,500
MATTEL INC COM 577081102 236 12,775 SH SOLE 12,775
MAY DEPT STORES CO COM 577778103 297 8,600 SH SOLE 8,600
MCDONALDS CORP COM 580135101 1,074 37,604 SH SOLE 37,604
Page Fair Market Value 18,927 549,053
MCGRAW HILL COS INC COM 580645109 434 5,700 SH SOLE 5,700
MEDTRONIC INC COM 585055106 1,727 36,162 SH SOLE 36,162
MERCK & CO INC COM 589331107 2,931 66,316 SH SOLE 66,316
MERRILL LYNCH & CO INC COM 590188108 1,722 28,918 SH SOLE 28,918
MICROSOFT CORP COM 594918104 8,016 321,550 SH SOLE 321,550
MICRON TECHNOLOGY INC COM 595112103 566,105 33,878,24 SH DEFINED NONE 33,878,24
5 5
MOODYS CORP COM 615369105 312 4,400 SH SOLE 4,400
MORGAN STANLEY COM NEW 617446448 1,871 32,656 SH SOLE 32,656
MOTOROLA INC COM 620076109 1,227 69,698 SH SOLE 69,698
NATIONAL CITY CORP COM 635405103 644 18,100 SH SOLE 18,100
NATIONAL SEMICONDUCTOR CORP COM 637640103 235 5,300 SH SOLE 5,300
NEOMAGIC CORP COM 640497103 65 SH SOLE
13,968 13,968
NEWMONT MINING CORP COM 651639106 600 12,862 SH SOLE 12,862
NIKE INC CL B 654106103 607 7,800 SH SOLE 7,800
NORFOLK SOUTHERN CORP COM 655844108 257 11,650 SH SOLE 11,650
NORTHERN TR CORP COM 665859104 307 6,600 SH SOLE 6,600
NORTHROP GRUMMAN CORP COM 666807102 549 5,579 SH SOLE 5,579
NOVELL INC COM 670006105 127 11,194 SH SOLE 11,194
OCCIDENTAL PETE CORP DEL COM 674599105 534 11,600 SH SOLE 11,600
OMNICOM GROUP INC COM 681919106 457 5,700 SH SOLE 5,700
PNC FINL SVCS GROUP INC COM 693475105 460 8,300 SH SOLE 8,300
PPG INDS INC COM 693506107 296 5,070 SH SOLE 5,070
PACCAR INC COM 693718108 290 5,175 SH SOLE 5,175
PARKER HANNIFIN CORP COM 701094104 201 3,550 SH SOLE 3,550
PAYCHEX INC COM 704326107 401 11,275 SH SOLE 11,275
PENNEY J C INC COM 708160106 283 8,128 SH SOLE 8,128
PEOPLESOFT INC COM 712713106 200 10,800 SH SOLE 10,800
PEPSI BOTTLING GROUP INC COM 713409100 229 7,700 SH SOLE 7,700
PEPSICO INC COM 713448108 2,746 51,000 SH SOLE 51,000
Page Fair Market Value 593,833 34,664,99
6
PFIZER INC COMST 717081103 7,962 227,164 SH SOLE 227,164
USD0.05
PHELPS DODGE CORP COM 717265102 224 2,743 SH SOLE 2,743
PITNEY BOWES INC COM 724479100 298 7,000 SH SOLE 7,000
PROCTER & GAMBLE CO COM 742718109 4,043 38,550 SH SOLE 38,550
PROGRESS ENERGY INC COM 743263105 344 7,300 SH SOLE 7,300
PROGRESSIVE CORP OHIO COM 743315103 569 6,500 SH SOLE 6,500
PRUDENTIAL FINL INC COM 744320102 722 16,125 SH SOLE 16,125
PUBLIC SVC ENTERPRISE GROUP COM 744573106 329 6,994 SH SOLE 6,994
PULTE HOMES INC COM 745867101 206 3,700 SH SOLE 3,700
QUALCOMM INC COM 747525103 1,591 24,000 SH SOLE 24,000
QWEST COMMUNICATIONS INTL IN COM 749121109 227 52,598 SH SOLE 52,598
RAYTHEON CO COM NEW 755111507 389 12,400 SH SOLE 12,400
REGIONS FINL CORP COM 758940100 241 6,600 SH SOLE 6,600
ROHM & HAAS CO COM 775371107 263 6,592 SH SOLE 6,592
SAFEWAY INC COM NEW 786514208 272 13,200 SH SOLE 13,200
ST JUDE MED INC COM 790849103 369 5,112 SH SOLE 5,112
ST PAUL COS INC COM 792860108 271 6,772 SH SOLE 6,772
SANMINA SCI CORP COM 800907107 171 15,450 SH SOLE 15,450
SARA LEE CORP COM 803111103 515 23,550 SH SOLE 23,550
SCHERING PLOUGH CORP COM 806605101 711 43,850 SH SOLE 43,850
SCHLUMBERGER LTD COM 806857108 1,117 17,500 SH SOLE 17,500
SCHWAB CHARLES CORP NEW COM 808513105 469 40,400 SH SOLE 40,400
SEARS ROEBUCK & CO COM 812387108 284 6,600 SH SOLE 6,600
SEMPRA ENERGY COM 816851109 215 6,760 SH SOLE 6,760
SIEBEL SYS INC COM 826170102 171 14,800 SH SOLE 14,800
SIMON PPTY GROUP INC NEW COM 828806109 333 5,700 SH SOLE 5,700
SOLECTRON CORP COM 834182107 138 24,900 SH SOLE 24,900
SOUTHERN CO COM 842587107 666 21,850 SH SOLE 21,850
Page Fair Market Value 23,110 664,710
SOUTHTRUST CORP COM 844730101 325 9,800 SH SOLE 9,800
SOUTHWEST AIRLS CO COM 844741108 334 23,475 SH SOLE 23,475
SPRINT CORP COM FON 852061100 497 26,966 SH SOLE 26,966
GROUP
SPRINT CORP PCS COM 852061506 283 30,808 SH SOLE 30,808
SER1
STANDARD MICROSYSTEMS CORP COM 853626109 27,006 SH SOLE 1,010,337
1,010,337
STAPLES INC COM 855030102 376 14,850 SH SOLE 14,850
STARBUCKS CORP COM 855244109 447 11,800 SH SOLE 11,800
STATE STR CORP COM 857477103 521 10,000 SH SOLE 10,000
STRYKER CORP COM 863667101 522 5,900 SH SOLE 5,900
SUN MICROSYSTEMS INC COM 866810104 408 97,914 SH SOLE 97,914
SUNGARD DATA SYS INC COM 867363103 234 8,550 SH SOLE 8,550
SUNTRUST BKS INC COM 867914103 586 8,400 SH SOLE 8,400
SYMANTEC CORP COM 871503108 431 9,300 SH SOLE 9,300
SYSCO CORP COM 871829107 750 19,200 SH SOLE 19,200
TJX COS INC NEW COM 872540109 368 15,000 SH SOLE 15,000
TXU CORP COM 873168108 275 9,602 SH SOLE 9,602
TELLABS INC COM 879664100 107 12,400 SH SOLE 12,400
TEXAS INDS INC COM 882508104 1,508 51,600 SH SOLE 51,600
TEXTRON INC COM 883203101 218 4,100 SH SOLE 4,100
TIME WARNER INC COM 887317105 2,286 135,595 SH SOLE 135,595
TRIBUNE CO NEW COM 896047107 496 9,826 SH SOLE 9,826
TYCO INTL LTD NEW COM 902124106 1,707 59,580 SH SOLE 59,580
US BANCORP DEL COM NEW 902973304 1,583 57,247 SH SOLE 57,247
UNION PAC CORP COM 907818108 461 7,700 SH SOLE 7,700
UNITED PARCEL SERVICE INC CL B 911312106 2,350 33,650 SH SOLE 33,650
UNITED TECHNOLOGIES CORP COM 913017109 1,329 15,400 SH SOLE 15,400
UNIVISION COMMUNICATIONS INC CL A 914906102 317 9,600 SH SOLE 9,600
Page Fair Market Value 45,725 1,708,600
UNOCAL CORP COM 915289102 289 7,750 SH SOLE 7,750
VERITAS SOFTWARE CO COM 923436109 342 12,715 SH SOLE 12,715
VIACOM INC CL B 925524308 2,044 52,127 SH SOLE 52,127
WACHOVIA CORP 2ND NEW COM 929903102 1,842 39,191 SH SOLE 39,191
WAL MART STORES INC COM 931142103 7,697 128,952 SH SOLE 128,952
WALGREEN CO COM 931422109 1,007 30,550 SH SOLE 30,550
WASHINGTON MUT INC COM 939322103 1,143 26,773 SH SOLE 26,773
WELLS FARGO & CO NEW COM 949746101 2,855 50,374 SH SOLE 50,374
WEYERHAEUSER CO COM 962166104 427 6,517 SH SOLE 6,517
WILLIAMS COS INC DEL COM 969457100 147 15,400 SH SOLE 15,400
WRIGLEY WM JR CO COM 982526105 396 6,700 SH SOLE 6,700
WYETH COM 983024100 1,492 39,726 SH SOLE 39,726
XILINX INC COM 983919101 389 10,300 SH SOLE 10,300
XEROX CORP COM 984121103 347 23,800 SH SOLE 23,800
YAHOO INC COM 984332106 962 19,850 SH SOLE 19,850
YUM BRANDS INC COM 988498101 334 8,784 SH SOLE 8,784
TARGET CORP COM 87612E106 1,223 27,150 SH SOLE 27,150
AES CORP COM 00130H105 158 18,550 SH SOLE 18,550
AT&T WIRELESS SVCS INC COM 00209A106 1,104 81,125 SH SOLE 81,125
ADOBE SYS INC COM 00724F101 279 7,100 SH SOLE 7,100
AETNA INC NEW COM 00817Y108 407 4,539 SH SOLE 4,539
AGILENT TECHNOLOGIES INC COM 00846U101 448 14,178 SH SOLE 14,178
ALTRIA GROUP INC COM 02209S103 3,319 60,949 SH SOLE 60,949
ANTHEM INC COM 03674B104 372 4,100 SH SOLE 4,100
BANK ONE CORP COM 06423A103 1,819 33,362 SH SOLE 33,362
BIOGEN IDEC INC COM 09062X103 543 9,775 SH SOLE 9,775
BURLINGTON NORTHN SANTA FE C COM 12189T104 349 11,067 SH SOLE 11,067
CAPITAL ONE FINL CORP COM 14040H105 520 6,900 SH SOLE 6,900
CARDINAL HEALTH INC COM 14149Y108 892 12,950 SH SOLE 12,950
Page Fair Market Value 33,146 771,254
CISCO SYS INC COM 17275R102 4,825 204,718 SH SOLE 204,718
COMCAST CORP NEW CL A 20030N101 1,930 67,099 SH SOLE 67,099
CONOCOPHILLIPS COM 20825C104 1,423 20,382 SH SOLE 20,382
COSTCO WHSL CORP NEW COM 22160K105 511 13,600 SH SOLE 13,600
DELL INC COM 24702R101 2,564 76,250 SH SOLE 76,250
DEVON ENERGY CORP NEW COM 25179M103 401 6,900 SH SOLE 6,900
DOMINION RES INC VA NEW COM 25746U109 623 9,684 SH SOLE 9,684
EL PASO CORP COM 28336L109 136 19,114 SH SOLE 19,114
ENTERGY CORP NEW COM 29364G103 405 6,800 SH SOLE 6,800
EQUITY RESIDENTIAL SH BEN 29476L107 246 8,250 SH SOLE 8,250
INT
EXELON CORP COM 30161N101 675 9,800 SH SOLE 9,800
EXXON MOBIL CORP COM 30231G102 8,124 195,325 SH SOLE 195,325
FEDERATED DEPT STORES INC DE COM 31410H101 290 5,359 SH SOLE 5,359
FEDEX CORP COM 31428X106 669 8,900 SH SOLE 8,900
FREEPORT-MCMORAN COPPER & GO CL B 35671D857 229 5,861 SH SOLE 5,861
GOLDMAN SACHS GROUP INC COM 38141G104 1,503 14,400 SH SOLE 14,400
HANCOCK JOHN FINL SVCS INC COM 41014S106 378 8,650 SH SOLE 8,650
JDS UNIPHASE CORP COM 46612J101 174 42,800 SH SOLE 42,800
J P MORGAN CHASE & CO COM 46625H100 2,570 61,271 SH SOLE 61,271
KINDER MORGAN INC KANS COM 49455P101 233 3,700 SH SOLE 3,700
M & T BK CORP COM 55261F104 323 3,600 SH SOLE 3,600
MBIA INC COM 55262C100 270 4,300 SH SOLE 4,300
MBNA CORP COM 55262L100 1,052 38,080 SH SOLE 38,080
MAXIM INTEGRATED PRODS INC COM 57772K101 460 9,800 SH SOLE 9,800
MCKESSON CORP COM 58155Q103 262 8,713 SH SOLE 8,713
MEDCO HEALTH SOLUTIONS INC COM 58405U102 273 8,030 SH SOLE 8,030
MELLON FINL CORP COM 58551A108 402 12,850 SH SOLE 12,850
METLIFE INC COM 59156R108 806 22,600 SH SOLE 22,600
MONSANTO CO NEW COM 61166W101 291 7,933 SH SOLE 7,933
Page Fair Market Value 32,048 904,769
NETWORK APPLIANCE INC COM 64120L104 222 10,300 SH SOLE 10,300
NEXTEL COMMUNICATIONS INC CL A 65332V103 809 32,800 SH SOLE 32,800
ORACLE CORP COM 68389X105 1,869 155,734 SH SOLE 155,734
PG&E CORP COM 69331C108 362 12,496 SH SOLE 12,496
PPL CORP COM 69351T106 242 5,300 SH SOLE 5,300
PRAXAIR INC COM 74005P104 359 9,662 SH SOLE 9,662
PRICE T ROWE GROUP INC COM 74144T108 205 3,800 SH SOLE 3,800
PRINCIPAL FINANCIAL GROUP IN COM 74251V102 342 9,600 SH SOLE 9,600
QUEST DIAGNOSTICS INC COM 74834L100 257 3,100 SH SOLE 3,100
SBC COMMUNICATIONS INC COM 78387G103 2,418 98,544 SH SOLE 98,544
SLM CORP COM 78442P106 561 13,400 SH SOLE 13,400
STARWOOD HOTELS&RESORTS WRLD PAIREDCTF 85590A203 247 6,100 SH SOLE 6,100
SYNOVUS FINL CORP COM 87161C105 219 8,950 SH SOLE 8,950
TENET HEALTHCARE CORP COM 88033G100 155 13,874 SH SOLE 13,874
3M CO COM 88579Y101 1,908 23,300 SH SOLE 23,300
TRAVELERS PPTY CAS CORP NEW CL B 89420G406 517 29,922 SH SOLE 29,922
UNITEDHEALTH GROUP INC COM 91324P102 1,202 18,652 SH SOLE 18,652
VERIZON COMMUNICATIONS COM 92343V104 3,007 82,298 SH SOLE 82,298
WASTE MGMT INC DEL COM 94106L109 518 17,163 SH SOLE 17,163
WELLPOINT HEALTH NETWORK NEW COM 94973H108 523 4,600 SH SOLE 4,600
XCEL ENERGY INC COM 98389B100 211 11,835 SH SOLE 11,835
ZIMMER HLDGS INC COM 98956P102 530 7,189 SH SOLE 7,189
ACE LTD ORD G0070K103 354 8,300 SH SOLE 8,300
INGERSOLL-RAND COMPANY LTD COM G4776G101 352 5,200 SH SOLE 5,200
NABORS INDUSTRIES LTD SHS G6359F103 201 4,400 SH SOLE 4,400
TRANSOCEAN INC ORD G90078109 265 9,504 SH SOLE 9,504
XL CAP LTD CL A G98255105 312 4,100 SH SOLE 4,100
Page Total 18,167 610,123
Grand Total 882,471 42,792,93
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