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, 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: McDonald & Company Securities Inc.
(AKA Victory Gradison Capital Management)
Address: 800 Superior Avenue
Cleveland, OH 44114
13F File Number: 28-5156
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: Diane L. Wozniak
Title: Assistant Vice President
Phone: 216-813-4794
Signature, Place, and Date of Signing:
Diane L. Wozniak Brooklyn, Ohio February 12, 2002
Report Type (Check only one.):
[ X ] 13F HOLDINGS REPORT.
[ ] 13F NOTICE.
[ ] 13F COMBINATION REPORT.
List of Other Managers Reporting for this Manager:
McDonald Investments Inc.
I AM SIGNING THIS REPORT AS REQUIRED BY THE SECURITIES EXCHANGE ACT
OF 1934.
FORM 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers: 2
Form 13F Information Table Entry Total: 339
Form 13F Information Table Value Total: $1,439,515,761
List of Other Included Managers:
None
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VICTORY GRADISON CAPITAL MANAGEMENT
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SHARES OF INVESTMENT
TITLE OF FAIR MARKET PRINCIPAL DISCRETION VOTING AUTHORITY
NAME OF ISSUER CLASS CUSIP VALUE INTEREST SOLE SOLE NONE
A T & T CORP COMMON 001957109 1,528,930 84,285 X 2,564 81,721
ABBOTT LABORATORIES COMMON 002824100 8,780,442 157,497 X 10,065 147,432
ABM INDUSTRIES INC COMMON 000957100 603,488 19,250 X 6,750 12,500
ACE LTD COMMON G0070K103 481,800 12,000 X 12,000
ADVANCED MARKETING SERVICE COMMON 00753T105 953,089 52,224 X 15,050 37,174
AEGON NON VOTING COMMON 007924103 240,903 8,999 X 8,999
AGILENT TECHNOLOGIES INC COMMON 00846U101 4,726,445 165,782 X 88,827 76,955
AIR PRODUCTS & CHEMICALS I COMMON 009158106 3,797,083 80,944 X 7,100 73,844
ALBERTO CULVER CO COMMON 013068101 9,340,594 208,775 X 126,825 81,950
ALCOA INC COMMON 013817101 991,525 27,891 X 125 27,766
ALEXANDER & BALDWIN COMMON 014482103 211,598 7,925 X 2,600 5,325
ALLEGHENY ENERGY INC COMMON 017361106 8,910,917 246,022 X 116,425 129,597
THE ALLSTATE CORPORATION COMMON 020002101 3,336,705 99,012 X 6,815 92,197
ALLTEL CORP COMMON 020039103 19,084,509 309,161 X 100,750 208,411
AMBAC FINANCIAL GROUP INC COMMON 023139108 3,178,192 54,929 X 5,725 49,204
AMERADA HESS CORP COMMON 023551104 282,813 4,525 X 2,000 2,525
AMERICAN ELECTRIC POWER IN COMMON 025537101 278,287 6,393 X 6,393
AMERICAN EXPRESS CO COMMON 025816109 1,330,273 37,273 X 3,800 33,473
AMERICAN HOME PRODUCTS COMMON 026609107 13,767,737 224,376 X 14,385 209,991
AMERICAN INTERNATIONAL COMMON 026874107 37,123,153 467,546 X 142,264 325,282
AMERON INC DELAWARE COMMON 030710107 519,000 7,500 X 2,100 5,400
AMGEN INC COMMON 031162100 450,053 7,974 X 150 7,824
AMLI RESIDENTIAL PROPERT COMMON 001735109 653,198 25,900 X 6,700 19,200
ANADARKO PETROLEUM CORP COMMON 032511107 2,670,870 46,981 X 2,450 44,531
ANHEUSER BUSCH CO INC COMMON 035229103 1,078,259 23,850 X 2,000 21,850
ANIXTER INTERNATIONAL INC COMMON 035290105 534,074 18,410 X 8,000 10,410
AOL TIME WARNER COMMON 00184A105 3,251,217 101,284 X 5,935 95,349
APPLIED MATERIALS INC COMMON 038222105 414,955 10,348 X 2,025 8,323
ARCHER DANIELS MIDLAND COMMON 039483102 1,297,283 90,403 X 2,559 87,844
ASSOCIATED BANC CORP COMMON 045487105 206,376 5,848 X 5,848
AT&T WIRELESS SERVICES INC COMMON 00209A106 574,369 39,970 X 823 39,147
ATLAS AIR WORLWIDE HOLDING COMMON 049164106 959,575 65,500 X 8,500 57,000
AUTOMATIC DATA PROCESSING COMMON 053015103 4,456,080 75,655 X 5,400 70,255
AVERY DENNISON CORP COMMON 053611109 3,330,183 58,910 X 4,075 54,835
BANK OF AMERICA CORP NEW COMMON 060505104 4,577,787 72,721 X 3,942 68,779
BANK OF NEW YORK COMPANY I COMMON 064057102 13,531,524 331,655 X 197,300 134,355
BANK ONE CORPORATION COMMON 06423A103 720,863 18,460 X 300 18,160
BARNES & NOBLE INC COMMON 067774109 2,368,000 80,000 X 12,000 68,000
BARR LABORTORIES INC COMMON 068306109 3,755,712 47,325 X 4,000 43,325
BAXTER INTERNATIONAL COMMON 071813109 296,306 5,525 X 5,525
BECTON DICKINSON & CO COMMON 075887109 504,709 15,225 X 15,225
BEDFORD PROPERTY INVESTORS COMMON 076446301 700,313 31,125 X 8,500 22,625
BELLSOUTH CORP COMMON 079860102 7,526,003 197,274 X 21,375 175,899
BERKSHIRE HATHAWAY INC COMMON 084670207 600,950 238 X 238
BJ SERVICES CO COMMON 055482103 265,279 8,175 X 8,175
BJ'S WHOLESALE INC COMMON 05548J106 456,876 10,360 X 4,200 6,160
BLACK BOX CORPORATION COMMON 091826107 251,180 4,750 X 1,950 2,800
BOEING CO COMMON 097023105 1,942,258 50,084 X 39,000 11,084
BORG-WARNER INC COMMON 099724106 471,557 9,025 X 3,350 5,675
BP PLC COMMON 055622104 11,467,877 246,568 X 114,740 131,828
BRINKER INTERNATIONAL INC COMMON 109641100 3,481,920 117,000 X 10,000 107,000
BRISTOL MYERS SQUIBB COMMON 110122108 12,880,325 252,555 X 13,350 239,205
BROADWING INCORPORATED COMMON 111620100 479,076 50,429 X 9,600 40,829
BRUNSWICK CORP COMMON 117043109 2,068,179 95,045 X 4,755 90,290
C AND D TECHNOLOGIES INC COMMON 124661109 581,533 25,450 X 7,050 18,400
CAMBREX CORP COMMON 132011107 403,300 9,250 X 3,000 6,250
CASCADE NAT GAS CORP COMMON 147339105 666,462 30,225 X 9,250 20,975
CATERPILLAR INC DELAWARE COMMON 149123101 333,878 6,390 X 6,390
CENTEX CORP COMMON 152312104 6,793,995 119,005 X 87,925 31,080
CHARTER ONE FINANCIAL INC COMMON 160903100 9,074,317 334,229 X 26,323 307,906
CHEVRONTEXACO CORP COMMON 166764100 26,138,878 291,696 X 74,092 217,604
CHITTENDEN CORP COMMON 170228100 631,929 22,896 X 6,687 16,209
CHUBB CORP COMMON 171232101 246,675 3,575 X 3,575
CIGNA CORP COMMON 125509109 9,237,946 99,708 X 38,800 60,908
CINCINNATI FINANCIAL CORP COMMON 172062101 9,631,731 252,470 X 19,798 232,672
CINERGY CORP COMMON 172474108 1,004,204 30,039 X 30,039
CINTAS CORP COMMON 172908105 5,156,544 107,428 X 11,725 95,703
CISCO SYSTEMS COMMON 17275R102 5,355,996 295,748 X 16,030 279,718
CITIGROUP INC COMMON 172967101 51,017,252 1,010,643 X 290,701 719,942
CLOROX CO COMMON 189054109 5,730,163 144,884 X 40,050 104,834
CMS ENERGY CORP COMMON 125896100 2,096,618 87,250 X 1,500 85,750
COCA COLA CO COMMON 191216100 2,480,420 52,607 X 4,475 48,132
COLGATE PALMOLIVE CO COMMON 194162103 393,913 6,821 X 2,100 4,721
COMERICA INC COMMON 200340107 713,557 12,453 X 5,775 6,678
COMPAQ COMPUTER CORP COMMON 204493100 345,992 35,450 X 4,300 31,150
COMPUTER ASSOCIATES COMMON 204912109 221,771 6,430 X 6,430
COMPUTER SCIENCES CORP COMMON 205363104 746,847 15,248 X 916 14,332
CONAGRA INC COMMON 205887102 312,576 13,150 X 2,000 11,150
CONSTELLATION BRANDS INC COMMON 21036P108 1,071,250 25,000 X 25,000
CONVERGYS CORPORATION COMMON 212485106 2,205,837 58,838 X 9,600 49,238
COOPER COMPANIES INC NEW COMMON 216648402 543,533 10,875 X 3,300 7,575
COORS ADOLPH CO COMMON 217016104 7,520,055 140,825 X 84,300 56,525
COUSINS PROPERTIES INC COMMON 222795106 557,089 22,869 X 6,600 16,269
CURTISS WRIGHT CORP COMMON 231561101 311,569 6,525 X 2,950 3,575
DARDEN RESTAURANT INC COMMON 237194105 3,196,620 90,300 X 3,000 87,300
DEERE & CO COMMON 244199105 416,909 9,549 X 950 8,599
DELL COMPUTER CORPORATION COMMON 247025109 899,386 33,090 X 33,090
DELPHI FINANCIAL GROUP COMMON 247131105 399,600 12,000 X 4,750 7,250
DIEBOLD INC COMMON 253651103 5,005,137 123,767 X 123,767
DORAL FINANCIAL CORP COMMON 25811P100 250,460 8,025 X 8,025
DOVER CORP COMMON 260003108 622,776 16,800 X 16,800
DOW CHEMICAL CO COMMON 260543103 838,960 24,836 X 24,836
DOWNEY FINANCIAL CORP COMMON 261018105 493,969 11,975 X 3,900 8,075
DPL INC COMMON 233293109 216,431 8,988 X 8,988
DUKE ENERGY CORP COMMON 264399106 5,101,223 129,934 X 13,000 116,934
DUKE REALTY CORPORATION COMMON 264411505 4,290,596 176,350 X 5,700 170,650
E I DUPONT DE NEMOURS & CO COMMON 263534109 5,001,685 117,659 X 5,250 112,409
EATON CORP COMMON 278058102 219,882 2,955 X 2,955
EL PASO CORPORATION COMMON 28336L109 19,740,951 442,523 X 138,367 304,156
EMC CORP MASSACHUSETTS COMMON 268648102 848,521 63,134 X 200 62,934
EMCOR GROUP INC COMMON 29084Q100 570,905 12,575 X 5,200 7,375
EMERSON ELECTRIC CO COMMON 291011104 14,053,338 246,118 X 78,870 167,248
ENERGEN CORP COMMON 29265N108 526,278 21,350 X 6,350 15,000
ENRON CORP COMMON 293561106 6,156 10,260 X 10,260
EQUITABLE RES INC COMMON 294549100 373,918 10,975 X 400 10,575
EVEREST RE GROUP LTD COMMON G3223R108 777,700 11,000 X 1,000 10,000
EXELON CORPORATION COMMON 30161N101 2,618,797 54,695 X 2,835 51,860
EXXON MOBIL CP COMMON 30231G102 21,522,016 547,634 X 36,396 511,238
F P L GROUP COMMON 302571104 217,140 3,850 X 3,850
FEDERAL HOME LOAN MORTGAGE COMMON 313400301 815,865 12,475 X 8,800 3,675
FEDERAL NATIONAL MORTGAGE COMMON 313586109 28,786,315 362,092 X 118,585 243,507
FEI COMPANY COMMON 30241L109 282,802 8,975 X 3,600 5,375
FIDELITY NATIONAL FINANCIA COMMON 316326107 2,613,920 105,400 X 17,300 88,100
FIFTH THIRD BANCORP COMMON 316773100 15,015,363 244,829 X 24,739 220,090
FIRST FIDELITY ACCEPTANCE COMMON 320191109 570 190,000 X 190,000
FIRST FINANCIAL BANCORP OH COMMON 320209109 279,435 15,832 X 3,017 12,815
FIRST NATIONAL NEBRASKA IN COMMON 335720108 238,000 100 X 100
FIRST TENNEESEE NATIONAL C COMMON 337162101 960,890 26,500 X 4,500 22,000
FIRSTFED FINANCIAL CORP COMMON 337907109 431,225 16,825 X 7,000 9,825
FISERV INC COMMON 337738108 14,998,293 354,402 X 202,886 151,516
FLAGSTAR BANCORP COMMON 337930101 520,844 25,874 X 7,700 18,174
FLEET BOSTON FINANCIAL COR COMMON 339030108 11,880,386 325,490 X 117,881 207,609
FORD MOTOR CO COMMON 345370860 1,669,763 106,219 X 4,390 101,829
FOREST LABS INC CLASS A COMMON 345838106 385,985 4,710 X 300 4,410
FORTUNE BRANDS INC COMMON 349631101 4,372,280 110,439 X 56,525 53,914
FORWARD AIR CORPORATION COMMON 349853101 493,536 14,550 X 6,700 7,850
FREDS INC COMMON 356108100 797,655 19,474 X 5,800 13,674
FRONTIER OIL CORP COMMON 35914P105 510,016 30,650 X 9,250 21,400
GANNETT COMPANY INC COMMON 364730101 3,201,156 47,615 X 1,900 45,715
GENERAL DYNAMICS CORP COMMON 369550108 10,229,758 128,450 X 63,000 65,450
GENERAL ELECTRIC CO COMMON 369604103 47,651,432 1,188,908 X 184,053 1,004,855
GENERAL MILLS INC COMMON 370334104 614,862 11,822 X 11,822
GENLYTE GROUP INC COMMON 372302109 445,656 14,975 X 6,300 8,675
GILDAN ACTIVEWEAR INC COMMON 375916103 417,653 29,125 X 12,200 16,925
GILLETTE CO COMMON 375766102 580,692 17,386 X 650 16,736
GLAXOSMITHKLINE PLC-ADS COMMON 37733W105 235,748 4,732 X 4,732
GOLDEN WEST FINANCIAL CORP COMMON 381317106 417,835 7,100 X 4,200 2,900
GREATER BAY BANCORP COMMON 391648102 654,482 22,900 X 6,800 16,100
GREEN POINT FINANCIAL CORP COMMON 395384100 820,463 22,950 X 3,700 19,250
GROUP ONE AUTOMOTIVE INC COMMON 398905109 275,834 9,675 X 3,900 5,775
GUIDANT CORPORATION COMMON 401698105 239,040 4,800 X 4,800
HANDLEMAN CO DEL COMMON 410252100 470,003 31,650 X 13,000 18,650
HCA INC COMMON 404119109 2,370,788 61,515 X 4,120 57,395
HEINZ H J CO COMMON 423074103 1,828,606 44,470 X 5,650 38,820
HELMERICH & PAYNE INC COMMON 423452101 6,423,113 192,424 X 3,850 188,574
HERSHEY FOODS CORP COMMON 427866108 859,790 12,700 X 12,700
HEWLETT PACKARD INC COMMON 428236103 4,344,805 211,529 X 19,730 191,799
HOME DEPOT INC COMMON 437076102 1,658,488 32,513 X 10,425 22,088
HONEYWELL INTERNATIONAL IN COMMON 438516106 7,461,199 220,615 X 12,755 207,860
HOUSEHOLD INTERNATIONAL COMMON 441815107 1,736,752 29,975 X 1,290 28,685
HUNTINGTON BANCSHARES INC COMMON 446150104 627,504 36,504 X 36,504
INGERSOLL RAND CO COMMON 456866102 1,051,103 25,140 X 500 24,640
INTEL CORP COMMON 458140100 11,155,158 354,695 X 23,720 330,975
INTERNATIONAL BUSINESS COMMON 459200101 10,448,283 86,378 X 4,543 81,835
INTERNATIONAL PAPER COMMON 460146103 390,507 9,678 X 9,678
INTERPUBLIC GROUP CO COMMON 460690100 1,510,380 51,130 X 2,550 48,580
IRWIN FINANCIAL CORP COMMON 464119106 405,450 23,850 X 6,700 17,150
ITLA CAPITAL CORPORATION COMMON 450565106 417,628 19,925 X 6,500 13,425
ITT INDUSTRIES INC COMMON 450911102 8,216,350 162,700 X 79,100 83,600
J L G INDUSTRIES INC COMMON 466210101 454,755 42,700 X 11,200 31,500
JAKKS PACIFIC INC COMMON 47012E106 327,361 17,275 X 6,900 10,375
JEFFERSON PILOT CORP COMMON 475070108 551,076 11,910 X 1,750 10,160
JOHNSON & JOHNSON COMMON 478160104 33,133,469 560,634 X 149,700 410,934
JOHNSON CONTROLS COMMON 478366107 21,562,188 267,024 X 98,665 168,359
JP MORGAN CHASE & CO COMMON 46625H100 8,541,632 234,983 X 13,578 221,405
KB HOME COMMON 48666K109 256,640 6,400 X 6,400
KERR MCGEE CORP COMMON 492386107 11,424,759 208,481 X 91,525 116,956
KEYCORP NEW COMMON 493267108 321,531 13,210 X 13,210
KIMBERLY CLARK CORP COMMON 494368103 15,112,357 252,715 X 94,900 157,815
KROGER CO COMMON 501044101 15,162,682 726,530 X 222,650 503,880
LABORATORY CORP OF AMERICA COMMON 50540R409 2,829,750 35,000 X 35,000
LAM RESEARCH CORP COMMON 512807108 12,840,846 553,008 X 256,450 296,558
LANDSTAR SYSTEM INC COMMON 515098101 367,988 5,075 X 2,100 2,975
LIBERTY MEDIA CORP COMMON 530718105 249,312 17,808 X 17,808
LILLY ELI & CO COMMON 532457108 2,677,193 34,087 X 1,600 32,487
LIZ CLAIBORNE INC COMMON 539320101 7,918,708 159,170 X 108,125 51,045
LM ERICSSON TELEPHONE CO COMMON 294821400 77,674 14,880 X 14,880
LOWES CO COMMON 548661107 18,766,580 404,365 X 128,570 275,795
LSI LOGIC CORP COMMON 502161102 197,566 12,520 X 12,520
LUCENT TECHNOLOGIES INC COMMON 549463107 391,280 62,108 X 2,900 59,208
MASTEC INC COMMON 576323109 667,200 96,000 X 6,000 90,000
MAVERICK TUBE CORP COMMON 577914104 377,493 29,150 X 11,750 17,400
MAXIMUS INC COMMON 577933104 486,845 11,575 X 4,800 6,775
MAY DEPARTMENT STORES COMMON 577778103 259,785 7,025 X 7,025
MBIA INC COMMON 55262C100 4,396,212 81,973 X 72,997 8,976
MBNA CORPORATION COMMON 55262L100 1,302,717 37,009 X 5,625 31,384
MCDONALDS CORP COMMON 580135101 2,544,746 96,137 X 10,500 85,637
MCSI INC COMMON 55270M108 535,246 22,825 X 9,300 13,525
MEDICIS PHARMACEUTICAL COMMON 584690309 3,442,648 53,300 X 6,550 46,750
MEDTRONIC INC COMMON 585055106 6,898,397 134,708 X 28,050 106,658
MELLON FINANCIAL CORP COMMON 58551A108 7,693,027 204,493 X 53,775 150,718
MERCANTILE BANCSHARES CORP COMMON 587405101 672,027 15,614 X 4,400 11,214
MERCK & COMPANY INC COMMON 589331107 17,874,259 303,984 X 6,400 297,584
MEREDITH CORP COMMON 589433101 388,585 10,900 X 10,900
MERITAGE CORP COMMON 59001A102 427,073 8,325 X 3,400 4,925
MGIC INVESTMENT CORP COMMON 552848103 17,368,008 281,400 X 102,950 178,450
MGM GRAND INC COMMON 552953101 2,857,408 98,975 X 77,875 21,100
MICROSOFT CORP COMMON 594918104 11,751,955 177,388 X 6,710 170,678
MINNESOTA MINING & COMMON 604059105 9,235,156 78,125 X 2,100 76,025
MIRANT CORP COMMON 604675108 404,730 25,264 X 278 24,986
MOLEX INC CLASS A COMMON 608554200 251,944 9,314 X 9,144 170
MORGAN STANLEY DEAN WITTER COMMON 617446448 3,213,754 57,450 X 2,475 54,975
MOTOROLA INC COMMON 620076109 6,103,812 406,379 X 28,505 377,874
MUELLER INDUSTRIES INC COMMON 624756102 426,431 12,825 X 6,000 6,825
MYLAN LABS INC COMMON 628530107 1,500,000 40,000 X 40,000
NASDAQ 100 SHARES COMMON 631100104 473,535 12,170 X 12,170
NATIONAL CITY CORP COMMON 635405103 651,613 22,285 X 400 21,885
NEWELL RUBBERMAID INC COMMON 651229106 567,280 20,576 X 2,400 18,176
NEWPORT CORP COMMON 651824104 10,893,200 565,000 X 223,800 341,200
NISOURCE INC COMMON 65473P105 3,953,775 171,456 X 6,700 164,756
NOKIA CORP ADR COMMON 654902204 347,443 14,164 X 14,164
NORFOLK SOUTHERN CO COMMON 655844108 550,175 30,015 X 30,015
NORTH FORK BANCORPORATION COMMON 659424105 1,449,147 45,300 X 6,000 39,300
NVR INC NEW COMMON 62944T105 664,020 3,255 X 3,255
OCCIDENTAL PETROLEUM CORP COMMON 674599105 3,279,241 123,605 X 14,000 109,605
OCEAN ENERGY INC NEW COMMON 67481E106 1,620,864 84,420 X 84,420
O'CHARLEY'S INC COMMON 670823103 449,794 24,300 X 10,450 13,850
OHIO MEDICAL INSTRUMENT CO COMMON 677403982 300 30,024 X 30,024
OLD REPUBLIC INTERNATIONAL COMMON 680223104 7,346,883 262,295 X 31,600 230,695
OM GROUP INC COMMON 670872100 595,710 9,000 X 3,000 6,000
ORACLE SYSTEMS CORP COMMON 68389X105 905,163 65,544 X 65,544
OVERSEAS SHIPHOLDING GRP I COMMON 690368105 528,750 23,500 X 7,150 16,350
OXFORD HEALTH PLANS COMMON 691471106 9,079,675 301,250 X 117,950 183,300
PALL CORP COMMON 696429307 1,837,703 76,380 X 76,380
PARKER HANNIFIN CORP COMMON 701094104 2,535,609 55,230 X 3,320 51,910
PATINA OIL & GAS CORP COMMON 703224105 503,250 18,300 X 5,050 13,250
PEPSICO INC COMMON 713448108 6,908,721 141,892 X 8,100 133,792
PFF BANCORP INC COMMON 69331W104 515,982 18,695 X 7,000 11,695
PFIZER INC COMMON 717081103 17,697,624 444,106 X 42,041 402,065
PHARMACIA CORP COMMON 71713U102 1,500,726 35,187 X 1,000 34,187
PHILADELPHIA CONSOL COMMON 717528103 469,490 12,450 X 5,150 7,300
PHILIP MORRIS COMPANIES IN COMMON 718154107 3,695,097 80,591 X 15,705 64,886
PHILLIPS PETROLEUM CO COMMON 718507106 673,406 11,175 X 3,300 7,875
PHILLIPS VAN HEUSEN COMMON 718592108 498,675 45,750 X 14,200 31,550
PITNEY BOWES INC COMMON 724479100 4,638,291 123,326 X 6,450 116,876
PMI GROUP INC COMMON 69344M101 618,168 9,225 X 2,250 6,975
PNC BANK CORP COMMON 693475105 2,138,522 38,052 X 38,052
POLYMEDICA INDUSTRIES INC COMMON 731738100 337,395 20,325 X 6,250 14,075
POPULAR INC COMMON 733174106 2,297,320 79,000 X 8,000 71,000
PPL CORP COMMON 69351T106 10,099,530 289,800 X 116,175 173,625
PRAXAIR INC COMMON 74005P104 4,469,173 80,890 X 4,540 76,350
PRECISION CASTPARTS INC COMMON 740189105 11,220,900 397,200 X 146,025 251,175
PROCTER & GAMBLE CO COMMON 742718109 59,783,217 755,506 X 25,650 729,856
PROGRESS ENERGY INC COMMON 743263105 648,027 14,391 X 14,391
PROGRESS ENERGY INC COMMON 743263AA3 5,043 11,206 X 11,206
PROGRESSIVE CORP OHIO COMMON 743315103 1,557,971 10,435 X 500 9,935
PROVIDENT FINANCIAL GROUP COMMON 743866105 497,007 18,912 X 18,912
PUBLIC SERVICE CO OF COMMON 744499104 577,866 20,675 X 6,600 14,075
QUAKER CHEMICAL CORP COMMON 747316107 243,595 11,825 X 3,350 8,475
QUESTAR CORP COMMON 748356102 1,404,053 56,050 X 6,000 50,050
QUIXOTE CORP COMMON 749056107 370,500 19,500 X 5,775 13,725
QWEST COMMUNICATIONS COMMON 749121109 157,139 11,121 X 1,695 9,426
R & G FINANCIAL CORP COMMON 749136107 761,873 44,450 X 15,000 29,450
RADIAN GROUP INC COMMON 750236101 1,035,095 24,100 X 3,100 21,000
REHABCARE CORP COMMON 759148109 307,100 10,375 X 4,300 6,075
REINSURANCE GROUP AMER COMMON 759351109 841,984 25,300 X 25,300
RELIANCE STEEL & ALUMINUM COMMON 759509102 611,625 23,300 X 6,800 16,500
REPUBLIC BANCORP INC COMMON 760282103 658,804 47,567 X 12,650 34,917
RIGHTCHOICE MANAGED CARE COMMON 76657T102 297,458 4,250 X 4,250
ROHM & HAAS CO COMMON 775371107 250,271 7,227 X 7,227
ROSLIN BANCORP COMMON 778162107 568,943 32,511 X 10,125 22,386
ROYAL DUTCH PETROLEUM CO COMMON 780257804 1,263,000 25,765 X 1,200 24,565
SANDY SPRING BANCORP INC COMMON 800363103 787,292 24,711 X 7,650 17,061
SARA LEE CORP COMMON 803111103 11,699,560 526,296 X 210,310 315,986
SBC COMMUNICATIONS INC COMMON 78387G103 17,152,152 437,890 X 123,962 313,928
SCANA CORP COMMON 80589M102 494,400 17,765 X 17,765
SCHERING PLOUGH CORP COMMON 806605101 5,573,970 155,654 X 15,050 140,604
SCHLUMBERGER LIMITED COMMON 806857108 2,074,143 37,746 X 300 37,446
SCIENTIFIC ATLANTA INC COMMON 808655104 8,753,063 365,625 X 115,625 250,000
SEARS ROEBUCK AND CO COMMON 812387108 317,473 6,664 X 6,664
SHERWIN WILLIAMS CO COMMON 824348106 11,425,975 415,490 X 222,250 193,240
SMITHFIELD FOODS COMMON 832248108 2,287,752 103,800 X 8,000 95,800
SONIC AUTOMOTIVE INC COMMON 83545G102 362,148 15,450 X 6,250 9,200
SOUTHERN CO COMMON 842587107 1,089,695 42,986 X 1,800 41,186
SOUTHWEST AIRLINES CO COMMON 844741108 16,404,992 887,716 X 315,979 571,737
SPRINT CORP COMMON 852061100 207,266 10,322 X 1,600 8,722
ST PAUL COMPANIES INC COMMON 792860108 2,763,383 62,847 X 3,680 59,167
STANDARD & POOR DEPOSITORY COMMON 78462F103 17,474,184 152,880 X 2,350 150,530
STATE AUTO FINANCIAL CORP COMMON 855707105 390,978 24,075 X 6,600 17,475
STEWART & STEVENSON COMMON 860342104 513,984 27,325 X 9,050 18,275
SUN MICROSYSTEMS INC COMMON 866810104 7,813,341 635,231 X 51,918 583,313
SUNGARD DATA SYSTEMS INC COMMON 867363103 578,600 20,000 X 20,000
SUNOCO INC COMMON 86764P109 11,244,941 301,150 X 122,050 179,100
SUNRISE ASSISTED LIVING COMMON 86768K106 676,080 23,225 X 9,700 13,525
SUNTRUST BANKS INC COMMON 867914103 10,620,001 169,378 X 80,100 89,278
SYSCO CORP COMMON 871829107 221,559 8,450 X 8,450
TARGET CORP COMMON 87612E106 13,276,473 323,422 X 50,375 273,047
TECHNITROL INC COMMON 878555101 3,227,397 116,850 X 14,400 102,450
TEEKAY SHIPPING CORP COMMON Y8564W103 1,768,638 50,750 X 4,000 46,750
TELEFONICA S A ADR COMMON 879382208 527,853 13,170 X 5,292 7,878
TELLABS INC COMMON 879664100 899,470 60,125 X 3,950 56,175
TEXAS INSTRUMENTS INC COMMON 882508104 2,899,036 103,537 X 3,550 99,987
TEXAS REGIONAL BANK SHARES COMMON 882673106 516,653 13,650 X 3,850 9,800
TEXTRON INC COMMON 883203101 10,384,362 250,467 X 102,125 148,342
THE CHARLES SCHWAB CORP COMMON 808513105 202,595 13,096 X 13,096
THE SHAW GROUP INC COMMON 820280105 407,020 17,320 X 10,000 7,320
THE TIMBERLAND CO COMMON 887100105 7,333,497 197,775 X 91,575 106,200
THE WILLIAMS COMPANIES COMMON 969457100 327,932 12,850 X 750 12,100
THOMAS INDUSTRIES INC COMMON 884425109 503,750 20,150 X 6,500 13,650
TOLLGRADE COMMUNICATIONS I COMMON 889542106 354,344 10,625 X 4,700 5,925
TOOTSIE ROLL INDUSTRIES IN COMMON 890516107 443,636 11,352 X 11,352
TRANSOCEAN SEDCO FOREX COMMON G90078109 2,337,097 69,104 X 3,045 66,059
TRIAD GUARANTY INC COMMON 895925105 448,841 12,375 X 5,300 7,075
TRIBUNE CO NEW COMMON 896047107 364,194 9,730 X 4,050 5,680
TRIUMPH GROUP INC COMMON 896818101 282,750 8,700 X 3,400 5,300
TRW INC COMMON 872649108 969,364 26,171 X 26,171
TYCO INTERNATIONAL LTD NEW COMMON 902124106 26,019,193 441,752 X 141,927 299,825
UBS AG COMMON H8920G551 432,199 9,042 X 9,042
UCBH HOLDINGS INC COMMON 90262T308 375,579 13,206 X 13,206
ULTRAMAR DIAMOND SHAMROCK COMMON 904000106 272,140 5,500 X 775 4,725
UNION PACIFIC CORP COMMON 907818108 3,611,235 63,355 X 3,735 59,620
UNITED HEALTHCARE INC COMMON 91324P102 3,600,990 50,883 X 3,300 47,583
UNITED NATURAL FOODS INC COMMON 911163103 398,125 15,925 X 6,000 9,925
UNITED STATIONERS INC COMMON 913004107 516,528 15,350 X 6,200 9,150
UNITED TECHNOLOGIES CORP COMMON 913017109 5,677,940 87,853 X 57,925 29,928
UNIVERSAL FOREST COMMON 913543104 414,414 19,800 X 6,200 13,600
UNIVERSAL HEALTH SERVICES COMMON 913903100 325,128 7,600 X 3,200 4,400
UNOCAL CORP COMMON 915289102 2,715,566 75,286 X 4,230 71,056
US BANCORP DELAWARE NEW COMMON 902973304 22,770,061 1,087,915 X 259,429 828,486
USX MARATHON GROUP INC COMMON 902905827 313,800 10,460 X 10,460
UTILICORP UNITED INC COMMON 918005109 2,519,517 100,100 X 10,000 90,100
VALERO ENERGY NEW COMMON 91913Y100 1,860,256 48,800 X 45,000 3,800
VERIZON COMMUNICATIONS COMMON 92343V104 9,847,049 207,481 X 15,195 192,286
VIACOM INC CLASS B COMMON COMMON 925524308 2,053,461 46,511 X 2,747 43,764
VINTAGE PETROLEUM INC COMMON 927460105 450,840 31,200 X 9,400 21,800
VIVENDI UNIVERSAL -SP ADR COMMON 92851S204 296,921 5,520 X 5,520
VODAFONE GROUP PLC ADR COMMON 92857W100 266,173 10,365 X 10,365
WACHOVIA CORP COMMON 929903102 918,879 29,301 X 29,301
WAL MART STORES INC COMMON 931142103 2,098,964 36,472 X 1,900 34,572
WALGREEN CO COMMON 931422109 19,428,788 577,207 X 232,450 344,757
WALT DISNEY COMPANY COMMON 254687106 1,193,306 57,592 X 3,900 53,692
WASHINGTON MUTUAL SAVINGS COMMON 939322103 6,564,394 200,746 X 54,000 146,746
WELLPOINT HEALTH NETWORKS COMMON 94973H108 14,232,330 121,800 X 51,700 70,100
WELLS FARGO & CO COMMON 949746101 17,628,215 405,526 X 184,025 221,501
WENDYS INTERNATIONAL INC COMMON 950590109 7,705,693 264,165 X 129,565 134,600
WFS FINANCIAL COMMON 92923B106 213,089 8,875 X 2,400 6,475
WORLDCOM INC-WORLDCOM GROU COMMON 98157D106 3,521,689 250,120 X 13,480 236,640
XL CAPITAL LIMITED COMMON G98255105 863,352 9,450 X 900 8,550
ZIMMER HOLDINGS INC COMMON 98956P102 271,073 8,876 X 585 8,291
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