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, 2002
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:
/s/ Diane L. Wozniak Brooklyn, Ohio May 14, 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: 0
Form 13F Information Table Entry Total: 346
Form 13F Information Table Value Total: $1,399,417,607
List of Other Included Managers:
None
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VICTORY GRADISON CAPITAL MANAGEMENT
SHARES OF INVESTMENT
TITLE FAIR MARKET PRINCIPAL DISCRETION VOTING AUTHORITY
NAME OF ISSUER OF CLASS CUSIP VALUE INTEREST SOLE SOLE NONE
A T & T CORP COMM 001957109 1,128,045 71,850 X 489 71,361
ABBOTT LABORATORIES COMM 002824100 8,427,730 160,223 X 9,741 150,482
ABM INDUSTRIES INC COMM 000957100 727,578 19,825 X 6,750 13,075
ADVANCED MARKETING SERVICE COMM 00753T105 499,176 20,799 X 6,050 14,749
AEGON NON VOTING COMM 007924103 219,936 8,999 X 8,999
AGILENT TECHNOLOGIES INC COMM 00846U101 4,327,803 123,793 X 62,723 61,070
AIR PRODUCTS & CHEMICALS I COMM 009158106 3,124,515 60,494 X 4,125 56,369
ALBERTO CULVER CO COMM 013068101 8,050,050 149,075 X 104,675 44,400
ALCOA INC COMM 013817101 4,789,168 126,899 X 10,780 116,119
ALEXANDER & BALDWIN COMM 014482103 486,627 17,625 X 5,150 12,475
ALFA CORP COMM 015385107 492,435 17,650 X 5,750 11,900
ALLEGHENY ENERGY INC COMM 017361106 13,172,953 318,572 X 126,050 192,522
ALLTEL CORP COMM 020039103 17,992,645 323,900 X 96,775 227,125
AMBAC FINANCIAL GROUP INC COMM 023139108 3,704,398 62,712 X 13,725 48,987
AMERADA HESS CORP COMM 023551104 524,570 6,610 X 2,350 4,260
AMERICAN ELECTRIC POWER IN COMM 025537101 294,653 6,393 X 6,393
AMERICAN EXPRESS CO COMM 025816109 1,502,945 36,693 X 4,670 32,023
AMERICAN INTERNATIONAL COMM 026874107 33,355,083 462,366 X 124,273 338,093
AMERON INC DELAWARE COMM 030710107 591,938 8,250 X 2,100 6,150
AMGEN INC COMM 031162100 872,164 14,614 X 150 14,464
AMLI RESIDENTIAL PROPERT COMM 001735109 644,371 25,550 X 6,700 18,850
ANADARKO PETROLEUM CORP COMM 032511107 3,294,459 58,371 X 3,255 55,116
ANHEUSER BUSCH CO INC COMM 035229103 2,513,691 48,155 X 4,195 43,960
ANIXTER INTERNATIONAL INC COMM 035290105 544,748 18,385 X 8,000 10,385
ANSYS INC COMM 03662Q105 529,128 19,525 X 10,950 8,575
AOL TIME WARNER COMM 00184A105 5,121,904 216,571 X 11,635 204,936
APPLIED MATERIALS INC COMM 038222105 236,834 4,364 X 4,364
AQUILA INC COMM 03840P102 250,884 10,100 X 5,000 5,100
ARCHER DANIELS MIDLAND COMM 039483102 1,421,626 102,055 X 2,559 99,496
ASHLAND INC COMM 044204105 201,382 4,425 X 1,100 3,325
ASSOCIATED BANC CORP COMM 045487105 222,399 5,848 X 5,848
AT&T WIRELESS SERVICES INC COMM 00209A106 197,142 22,027 X 510 21,517
AUTOMATIC DATA PROCESSING COMM 053015103 4,058,797 69,655 X 5,200 64,455
AVERY DENNISON CORP COMM 053611109 3,798,507 62,240 X 3,625 58,615
AVON PRODUCTS INC COMM 054303102 241,452 4,445 X 4,445
BANK OF AMERICA CORP NEW COMM 060505104 4,888,801 71,873 X 4,722 67,151
BANK OF NEW YORK COMPANY I COMM 064057102 12,455,989 296,430 X 171,100 125,330
BANK ONE CORPORATION COMM 06423A103 680,053 16,277 X 16,277
BARNES & NOBLE INC COMM 067774109 526,830 17,000 X 10,000 7,000
BAXTER INTERNATIONAL COMM 071813109 424,080 7,125 X 450 6,675
BECTON DICKINSON & CO COMM 075887109 561,462 14,885 X 14,885
BEDFORD PROPERTY INVESTORS COMM 076446301 772,480 30,175 X 8,500 21,675
BEI TECHNOLOGIES COMM 05538P104 266,728 14,150 X 3,200 10,950
BELLSOUTH CORP COMM 079860102 9,952,164 269,999 X 93,125 176,874
BERKSHIRE HATHAWAY INC COMM 084670207 563,822 238 X 238
BIOMET INC COMM 090613100 234,313 8,659 X 8,659
BLACK BOX CORPORATION COMM 091826107 240,890 4,975 X 1,950 3,025
BMC SOFTWARE COMM 055921100 1,830,634 94,120 X 5,125 88,995
BOEING CO COMM 097023105 2,491,582 51,639 X 39,680 11,959
BORG-WARNER INC COMM 099724106 577,291 9,175 X 3,350 5,825
BP PLC COMM 055622104 12,158,201 228,968 X 92,345 136,623
BRINKER INTERNATIONAL INC COMM 109641100 324,100 10,000 X 6,000 4,000
BRISTOL MYERS SQUIBB COMM 110122108 19,966,429 493,120 X 112,425 380,695
BROADWING INCORPORATED COMM 111620100 302,632 43,295 X 9,600 33,695
BRUNSWICK CORP COMM 117043109 2,549,912 93,335 X 5,690 87,645
C AND D TECHNOLOGIES INC COMM 124661109 534,959 25,450 X 7,050 18,400
CASCADE NAT GAS CORP COMM 147339105 660,473 31,125 X 9,250 21,875
CATERPILLAR INC DELAWARE COMM 149123101 863,836 15,195 X 15,195
CENTEX CORP COMM 152312104 3,990,821 76,850 X 59,150 17,700
CHARTER ONE FINANCIAL INC COMM 160903100 6,925,220 221,820 X 23,743 198,077
CHEMICAL FINANCIAL CORP COMM 163731102 200,799 6,700 X 2,200 4,500
CHEVRONTEXACO CORP COMM 166764100 26,597,694 294,646 X 68,171 226,475
CHIRON CORP COMM 170040109 228,303 4,975 X 4,975
CHITTENDEN CORP COMM 170228100 765,071 26,246 X 7,287 18,959
CHUBB CORP COMM 171232101 420,691 5,755 X 500 5,255
CIGNA CORP COMM 125509109 9,303,344 91,758 X 32,050 59,708
CINCINNATI FINANCIAL CORP COMM 172062101 11,532,571 264,145 X 19,548 244,597
CINERGY CORP COMM 172474108 1,044,079 29,205 X 452 28,753
CINTAS CORP COMM 172908105 5,288,052 106,058 X 11,850 94,208
CISCO SYSTEMS COMM 17275R102 5,356,212 316,374 X 18,707 297,667
CITIGROUP INC COMM 172967101 42,532,288 858,891 X 233,688 625,203
CLOROX CO COMM 189054109 10,771,549 246,884 X 99,500 147,384
CMS ENERGY CORP COMM 125896100 3,035,815 134,150 X 3,100 131,050
COCA COLA CO COMM 191216100 2,841,220 54,367 X 4,075 50,292
COLGATE PALMOLIVE CO COMM 194162103 398,678 6,976 X 2,100 4,876
COMERICA INC COMM 200340107 616,502 9,853 X 3,075 6,778
COMPAQ COMPUTER CORP COMM 204493100 391,875 37,500 X 4,200 33,300
COMPUTER SCIENCES CORP COMM 205363104 657,568 12,957 X 200 12,757
COMPUWARE CORPORATION COMM 205638109 304,676 23,600 X 13,800 9,800
CONAGRA INC COMM 205887102 318,888 13,150 X 2,000 11,150
CONVERGYS CORPORATION COMM 212485106 1,638,001 55,394 X 9,600 45,794
COOPER COMPANIES INC NEW COMM 216648402 233,445 4,925 X 1,400 3,525
COOPER TIRE & RUBBER COMM 216831107 255,470 11,800 X 11,800
COORS ADOLPH CO COMM 217016104 10,515,199 155,850 X 82,475 73,375
COUSINS PROPERTIES INC COMM 222795106 602,901 23,144 X 6,600 16,544
COVENTRY HEALTH CARE INC COMM 222862104 380,250 14,625 X 5,450 9,175
CURTISS WRIGHT CORP COMM 231561101 475,475 7,150 X 2,950 4,200
DEERE & CO COMM 244199105 722,606 15,864 X 1,230 14,634
DELL COMPUTER CORPORATION COMM 247025109 1,263,854 48,405 X 620 47,785
DELPHI FINANCIAL GROUP COMM 247131105 491,106 12,525 X 4,750 7,775
DIEBOLD INC COMM 253651103 4,150,591 101,880 X 101,880
DORAL FINANCIAL CORP COMM 25811P100 272,449 8,025 X 8,025
DOVER CORP COMM 260003108 664,200 16,200 X 16,200
DOW CHEMICAL CO COMM 260543103 2,755,581 84,217 X 3,569 80,648
DOWNEY FINANCIAL CORP COMM 261018105 531,240 11,650 X 3,900 7,750
DPL INC COMM 233293109 214,646 8,401 X 8,401
DUKE ENERGY CORP COMM 264399106 8,330,100 220,373 X 17,637 202,736
DUKE REALTY CORPORATION COMM 264411505 3,045,900 117,150 X 5,700 111,450
E I DUPONT DE NEMOURS & CO COMM 263534109 5,448,655 115,560 X 4,650 110,910
EASTMAN CHEMICAL CO COMM 277432100 214,139 4,389 X 589 3,800
EATON CORP COMM 278058102 538,922 6,655 X 170 6,485
EL PASO CORPORATION COMM 28336L109 19,651,074 446,311 X 145,355 300,956
EMC CORP MASSACHUSETTS COMM 268648102 929,176 77,951 X 200 77,751
EMCOR GROUP INC COMM 29084Q100 585,800 10,100 X 4,050 6,050
EMERSON ELECTRIC CO COMM 291011104 15,464,654 269,466 X 80,420 189,046
ENERGEN CORP COMM 29265N108 591,158 22,350 X 6,350 16,000
EQUITABLE RES INC COMM 294549100 356,803 10,250 X 400 9,850
EXELON CORPORATION COMM 30161N101 2,611,050 49,293 X 3,374 45,919
EXXON MOBIL CP COMM 30231G102 23,432,526 534,623 X 35,736 498,887
F L I R SYSTEMS COMM 302445101 219,650 4,600 X 4,600
F P L GROUP COMM 302571104 248,324 4,170 X 270 3,900
FEDERAL HOME LOAN MORTGAGE COMM 313400301 694,852 10,965 X 8,800 2,165
FEDERAL NATIONAL MORTGAGE COMM 313586109 27,447,727 343,612 X 110,975 232,637
FEI COMPANY COMM 30241L109 320,839 9,025 X 3,600 5,425
FIDELITY NATIONAL FINANCIA COMM 316326107 1,474,083 55,900 X 17,300 38,600
FIFTH THIRD BANCORP COMM 316773100 15,214,446 225,466 X 24,227 201,239
FIRST FIDELITY ACCEPTANCE COMM 320191109 570 190,000 X 190,000
FIRST FINANCIAL BANCORP OH COMM 320209109 197,003 12,532 X 3,017 9,515
FIRST NATIONAL NEBRASKA IN COMM 335720108 265,500 100 X 100
FIRST TENNEESEE NATIONAL C COMM 337162101 595,850 17,000 X 7,500 9,500
FIRSTFED FINANCIAL CORP COMM 337907109 324,260 12,400 X 4,900 7,500
FIRSTMERIT CORP COMM 337915102 388,665 13,500 X 7,500 6,000
FISERV INC COMM 337738108 11,158,140 242,621 X 130,724 111,897
FLAGSTAR BANCORP COMM 337930101 438,805 18,849 X 6,050 12,799
FLEET BOSTON FINANCIAL COR COMM 339030108 12,593,910 359,826 X 131,048 228,778
FORD MOTOR CO COMM 345370860 248,768 15,086 X 1,470 13,616
FORTUNE BRANDS INC COMM 349631101 5,140,108 104,114 X 56,025 48,089
FRANKLIN RESOURCES INC COMM 354613101 364,704 8,700 X 8,700
FRONTIER OIL CORP COMM 35914P105 676,083 31,475 X 9,250 22,225
GANNETT COMPANY INC COMM 364730101 3,946,927 51,865 X 4,735 47,130
GENERAL DYNAMICS CORP COMM 369550108 9,099,058 96,850 X 38,325 58,525
GENERAL ELECTRIC CO COMM 369604103 44,852,179 1,197,655 X 182,432 1,015,223
GENERAL MILLS INC COMM 370334104 496,902 10,172 X 10,172
GENLYTE GROUP INC COMM 372302109 561,522 14,950 X 6,300 8,650
GILLETTE CO COMM 375766102 777,503 22,861 X 650 22,211
GLAXOSMITHKLINE PLC-ADS COMM 37733W105 361,618 7,694 X 7,694
GLOBAL IMAGING SYSTEMS COMM 37934A100 319,700 17,375 X 6,800 10,575
GREEN POINT FINANCIAL CORP COMM 395384100 819,375 18,750 X 2,650 16,100
GROUP ONE AUTOMOTIVE INC COMM 398905109 394,405 10,100 X 3,900 6,200
HANDLEMAN CO DEL COMM 410252100 336,086 32,725 X 13,000 19,725
HCA INC COMM 404119109 3,472,755 78,783 X 5,350 73,433
HEALTH MANAGEMENT ASSOC COMM 421933102 233,109 11,245 X 1,420 9,825
HEINZ H J CO COMM 423074103 1,718,930 41,420 X 5,650 35,770
HELMERICH & PAYNE INC COMM 423452101 4,982,145 124,274 X 2,950 121,324
HERSHEY FOODS CORP COMM 427866108 907,401 13,239 X 13,239
HEWLETT PACKARD INC COMM 428236103 3,761,821 209,689 X 21,520 188,169
HIGHWOODS PROPERTIES INC COMM 431284108 436,800 15,550 X 5,000 10,550
HOME DEPOT INC COMM 437076102 1,629,115 33,514 X 9,825 23,689
HONEYWELL INTERNATIONAL IN COMM 438516106 12,146,975 317,402 X 42,655 274,747
HOUSEHOLD INTERNATIONAL COMM 441815107 404,132 7,115 X 7,115
HUNTINGTON BANCSHARES INC COMM 446150104 640,920 32,534 X 32,534
IDACORP COMM 451107106 348,300 8,600 X 4,500 4,100
INGERSOLL-RAND CO. CLASS A COMM G4776G101 1,550,120 30,990 X 780 30,210
INTEL CORP COMM 458140100 8,130,296 267,356 X 20,870 246,486
INTER TEL INC COMM 458372109 488,532 26,450 X 7,650 18,800
INTERNATIONAL BUSINESS COMM 459200101 21,002,800 201,950 X 49,214 152,736
INTERNATIONAL PAPER COMM 460146103 656,289 15,259 X 540 14,719
INTERPUBLIC GROUP CO COMM 460690100 2,511,455 73,263 X 4,315 68,948
INTERSTATE BAKERIES CORP COMM 46072H108 268,731 11,100 X 2,800 8,300
IRWIN FINANCIAL CORP COMM 464119106 689,464 36,850 X 12,050 24,800
ITLA CAPITAL CORPORATION COMM 450565106 504,900 20,400 X 6,500 13,900
ITT INDUSTRIES INC COMM 450911102 6,047,175 95,926 X 64,875 31,051
J L G INDUSTRIES INC COMM 466210101 661,560 44,700 X 11,200 33,500
JAKKS PACIFIC INC COMM 47012E106 499,363 21,950 X 8,550 13,400
JEFFERSON PILOT CORP COMM 475070108 580,327 11,588 X 2,750 8,838
JOHNSON & JOHNSON COMM 478160104 31,144,304 479,512 X 133,575 345,937
JOHNSON CONTROLS COMM 478366107 17,023,607 192,771 X 66,860 125,911
JONES APPAREL GROUP INC COMM 480074103 3,297,707 94,355 X 7,495 86,860
JP MORGAN CHASE & CO COMM 46625H100 8,755,390 245,593 X 14,400 231,193
KB HOME COMM 48666K109 277,760 6,400 X 6,400
KERR MCGEE CORP COMM 492386107 12,573,143 200,050 X 83,600 116,450
KEYCORP NEW COMM 493267108 352,047 13,210 X 13,210
KIMBERLY CLARK CORP COMM 494368103 16,259,669 251,503 X 92,490 159,013
KPMG CONSULTING INC COMM 48265R109 1,959,400 97,000 X 5,455 91,545
KROGER CO COMM 501044101 12,585,772 567,950 X 204,100 363,850
LAM RESEARCH CORP COMM 512807108 15,747,274 537,083 X 244,900 292,183
LANDSTAR SYSTEM INC COMM 515098101 480,240 5,175 X 2,100 3,075
LIBERTY MEDIA CORP COMM 530718105 184,114 14,566 X 14,566
LILLY ELI & CO COMM 532457108 2,269,541 29,784 X 1,600 28,184
LINCOLN NATIONAL CORP COMM 534187109 451,092 8,892 X 3,542 5,350
LIZ CLAIBORNE INC COMM 539320101 7,793,044 274,790 X 172,100 102,690
LM ERICSSON TELEPHONE CO COMM 294821400 62,198 14,880 X 14,880
LOWES CO COMM 548661107 10,905,770 250,765 X 89,050 161,715
LSI LOGIC CORP COMM 502161102 369,410 21,730 X 1,180 20,550
LUCENT TECHNOLOGIES INC COMM 549463107 1,295,646 273,921 X 12,530 261,391
MAGNA INTERNATIONAL INC COMM 559222401 214,988 2,925 X 2,925
MARATHON OIL CORP COMM 565849106 394,560 13,700 X 13,700
MASTEC INC COMM 576323109 88,550 11,000 X 6,000 5,000
MATTEL INC COMM 577081102 232,783 11,170 X 11,170
MAVERICK TUBE CORP COMM 577914104 469,608 28,775 X 11,750 17,025
MAXIMUS INC COMM 577933104 373,370 12,150 X 4,800 7,350
MAY DEPARTMENT STORES COMM 577778103 378,471 10,860 X 1,060 9,800
MBIA INC COMM 55262C100 4,432,515 81,048 X 72,997 8,051
MBNA CORPORATION COMM 55262L100 2,421,116 62,772 X 9,975 52,797
MCDONALDS CORP COMM 580135101 2,527,914 91,096 X 10,100 80,996
MCSI INC COMM 55270M108 187,880 15,775 X 6,300 9,475
MEDICIS PHARMACEUTICAL COMM 584690309 555,000 10,000 X 4,650 5,350
MEDTRONIC INC COMM 585055106 5,711,741 126,338 X 22,150 104,188
MELLON FINANCIAL CORP COMM 58551A108 7,810,732 202,403 X 65,500 136,903
MERCANTILE BANCSHARES CORP COMM 587405101 569,475 13,164 X 3,850 9,314
MERCK & COMPANY INC COMM 589331107 20,050,451 348,219 X 8,744 339,475
MERCURY GENERAL CORP COMM 589400100 1,690,275 36,350 X 550 35,800
MEREDITH CORP COMM 589433101 425,100 10,000 X 10,000
MERITAGE CORP COMM 59001A102 522,383 8,175 X 3,400 4,775
MGIC INVESTMENT CORP COMM 552848103 17,023,673 248,775 X 97,000 151,775
MGM MIRAGE INC COMM 552953101 3,007,090 83,000 X 66,675 16,325
MICROSOFT CORP COMM 594918104 10,970,268 181,898 X 7,530 174,368
MINNESOTA MINING & COMM 604059105 9,006,433 78,310 X 2,100 76,210
MIRANT CORP COMM 604675108 319,056 22,080 X 278 21,802
MOLEX INC CLASS A COMM 608554200 279,715 9,144 X 9,144
MORGAN STANLEY DEAN WITTER COMM 617446448 3,861,663 67,382 X 3,883 63,499
MOTOROLA INC COMM 620076109 6,000,125 422,544 X 31,145 391,399
MUELLER INDUSTRIES INC COMM 624756102 452,246 12,925 X 6,000 6,925
NASDAQ 100 SHARES COMM 631100104 420,820 11,670 X 11,670
NATIONAL CITY CORP COMM 635405103 598,897 19,470 X 400 19,070
NEW ENGLAND BUSINESS SERV COMM 643872104 555,756 21,650 X 6,800 14,850
NEWELL RUBBERMAID INC COMM 651229106 625,649 19,576 X 2,400 17,176
NEWPORT CORP COMM 651824104 9,237,948 386,525 X 191,950 194,575
NISOURCE INC COMM 65473P105 4,598,170 200,356 X 9,800 190,556
NOKIA CORP ADR COMM 654902204 297,889 14,363 X 14,363
NORFOLK SOUTHERN CO COMM 655844108 1,103,514 46,095 X 46,095
NORTEL NETWORK COMM 656568102 253,133 56,377 X 2,650 53,727
NORTH FORK BANCORPORATION COMM 659424105 508,508 14,300 X 8,000 6,300
NUCOR CORP COMM 670346105 242,506 3,775 X 3,775
NVR INC NEW COMM 62944T105 220,850 700 X 700
OCCIDENTAL PETROLEUM CORP COMM 674599105 673,511 23,105 X 14,000 9,105
OHIO MEDICAL INSTRUMENT CO COMM 677403982 300 30,024 X 30,024
OLD REPUBLIC INTERNATIONAL COMM 680223104 5,417,317 169,450 X 29,300 140,150
OM GROUP INC COMM 670872100 451,875 6,250 X 2,000 4,250
ORACLE SYSTEMS CORP COMM 68389X105 1,186,291 92,679 X 879 91,800
OVERSEAS SHIPHOLDING GRP I COMM 690368105 595,958 24,525 X 7,150 17,375
OXFORD HEALTH PLANS COMM 691471106 8,794,706 210,450 X 80,900 129,550
PALL CORP COMM 696429307 1,539,414 75,130 X 75,130
PAPA JOHN'S INTERNATIONAL COMM 698813102 345,712 12,400 X 5,200 7,200
PARK ELECTROCHEMICAL CORP COMM 700416209 213,875 7,375 X 7,375
PARKER HANNIFIN CORP COMM 701094104 277,943 5,570 X 1,620 3,950
PARKWAY PROP INC (MD) COMM 70159Q104 449,863 12,325 X 3,900 8,425
PATINA OIL & GAS CORP COMM 703224105 586,272 18,600 X 5,050 13,550
PEPSICO INC COMM 713448108 6,401,502 124,301 X 7,100 117,201
PFF BANCORP INC COMM 69331W104 587,964 18,845 X 7,000 11,845
PFIZER INC COMM 717081103 28,733,451 723,036 X 154,413 568,623
PHARMACIA CORP COMM 71713U102 2,319,366 51,450 X 1,575 49,875
PHILADELPHIA CONSOL COMM 717528103 511,430 12,850 X 5,150 7,700
PHILIP MORRIS COMPANIES IN COMM 718154107 4,579,814 86,953 X 11,860 75,093
PHILLIPS PETROLEUM CO COMM 718507106 664,110 10,575 X 3,300 7,275
PHILLIPS VAN HEUSEN COMM 718592108 677,633 48,025 X 14,200 33,825
PITNEY BOWES INC COMM 724479100 11,454,393 267,626 X 63,100 204,526
PMI GROUP INC COMM 69344M101 465,924 6,150 X 1,175 4,975
PNC BANK CORP COMM 693475105 5,366,663 87,277 X 2,165 85,112
PNM RESOURCES INC COMM 69349H107 662,256 21,600 X 6,600 15,000
POLYMEDICA INDUSTRIES INC COMM 731738100 370,298 14,550 X 6,250 8,300
POPULAR INC COMM 733174106 309,732 10,600 X 6,000 4,600
PPL CORP COMM 69351T106 10,664,003 269,225 X 117,775 151,450
PRAXAIR INC COMM 74005P104 2,393,495 40,025 X 2,815 37,210
PRECISION CASTPARTS INC COMM 740189105 6,979,311 197,100 X 105,575 91,525
PROCTER & GAMBLE CO COMM 742718109 62,886,425 698,040 X 21,594 676,446
PROGRESSIVE CORP OHIO COMM 743315103 379,061 2,275 X 2,275
PROTECTIVE LIFE CORP COMM 743674103 274,384 8,800 X 5,000 3,800
PROVIDENT FINANCIAL GROUP COMM 743866105 559,210 19,417 X 19,417
QUAKER CHEMICAL CORP COMM 747316107 471,087 20,175 X 6,450 13,725
QUESTAR CORP COMM 748356102 548,909 21,350 X 6,000 15,350
R & G FINANCIAL CORP COMM 749136107 639,754 32,100 X 10,150 21,950
RADIAN GROUP INC COMM 750236101 260,124 5,300 X 1,600 3,700
REHABCARE CORP COMM 759148109 312,788 10,975 X 4,300 6,675
REINSURANCE GROUP AMER COMM 759351109 432,078 13,800 X 8,000 5,800
RELIANCE STEEL & ALUMINUM COMM 759509102 635,950 23,050 X 6,800 16,250
REPUBLIC BANCORP INC COMM 760282103 260,638 18,617 X 6,150 12,467
ROHM & HAAS CO COMM 775371107 305,485 7,227 X 7,227
ROSLIN BANCORP COMM 778162107 692,126 33,436 X 10,125 23,311
ROYAL DUTCH PETROLEUM CO COMM 780257804 1,337,847 24,629 X 1,000 23,629
SANDY SPRING BANCORP INC COMM 800363103 533,316 16,435 X 4,300 12,135
SARA LEE CORP COMM 803111103 15,016,476 723,337 X 246,190 477,147
SBC COMMUNICATIONS INC COMM 78387G103 17,961,727 479,747 X 126,376 353,371
SCHERING PLOUGH CORP COMM 806605101 4,823,174 154,095 X 14,525 139,570
SCHLUMBERGER LIMITED COMM 806857108 2,693,133 45,786 X 1,100 44,686
SCIENTIFIC ATLANTA INC COMM 808655104 6,509,003 281,775 X 118,250 163,525
SEARS ROEBUCK AND CO COMM 812387108 336,536 6,564 X 6,564
SHERWIN WILLIAMS CO COMM 824348106 11,040,699 387,665 X 182,675 204,990
SKY FINANCIAL GROUP COMM 83080P103 623,747 28,021 X 13,000 15,021
SMITHFIELD FOODS COMM 832248108 360,180 13,800 X 8,000 5,800
SONIC AUTOMOTIVE INC COMM 83545G102 439,207 14,650 X 6,250 8,400
SOUTHERN CO COMM 842587107 1,011,547 38,186 X 1,800 36,386
SOUTHWEST AIRLINES CO COMM 844741108 13,261,793 685,364 X 252,137 433,227
SPARTECH CORP NEW COMM 847220209 621,150 25,250 X 7,250 18,000
SPRINT CORPORATION PCS GRP COMM 852061506 234,715 22,810 X 22,810
ST PAUL COMPANIES INC COMM 792860108 3,720,865 81,153 X 4,605 76,548
STAPLES INC COMM 855030102 297,853 14,915 X 14,915
STATE AUTO FINANCIAL CORP COMM 855707105 363,023 24,950 X 6,600 18,350
STERLING BANCSHARES TEXAS COMM 858907108 519,649 38,925 X 12,250 26,675
STEWART & STEVENSON COMM 860342104 529,223 27,350 X 9,050 18,300
SUN MICROSYSTEMS INC COMM 866810104 4,276,809 484,899 X 15,184 469,715
SUNOCO INC COMM 86764P109 7,969,992 199,200 X 107,800 91,400
SUNRISE ASSISTED LIVING COMM 86768K106 301,905 11,075 X 4,350 6,725
SUNTRUST BANKS INC COMM 867914103 10,860,508 162,753 X 76,850 85,903
SYNTEL INC COMM 87162H103 318,811 22,675 X 8,050 14,625
TARGET CORP COMM 87612E106 12,378,631 287,074 X 36,975 250,099
TECHNITROL INC COMM 878555101 687,784 28,850 X 11,200 17,650
TELEFONICA S A ADR COMM 879382208 444,742 13,432 X 5,398 8,034
TELLABS INC COMM 879664100 625,844 59,775 X 3,500 56,275
TEXAS INSTRUMENTS INC COMM 882508104 2,777,189 83,903 X 3,490 80,413
TEXAS REGIONAL BANK SHARES COMM 882673106 591,593 13,550 X 3,850 9,700
TEXTRON INC COMM 883203101 16,723,957 327,279 X 100,845 226,434
THE ALLSTATE CORPORATION COMM 020002101 4,304,798 113,974 X 6,673 107,301
THE REYNOLDS & REYNOLDS CO COMM 761695105 216,000 7,200 X 7,200
THE SHAW GROUP INC COMM 820280105 467,500 17,000 X 10,000 7,000
THE TIMBERLAND CO COMM 887100105 4,985,500 118,000 X 82,625 35,375
THE WILLIAMS COMPANIES COMM 969457100 290,966 12,350 X 750 11,600
THERAGENICS CORP COMM 883375107 242,550 24,500 X 9,650 14,850
THOMAS INDUSTRIES INC COMM 884425109 596,700 20,400 X 6,500 13,900
TIFFANY & CO NEW COMM 886547108 452,836 12,738 X 12,738
TOLLGRADE COMMUNICATIONS I COMM 889542106 275,738 11,250 X 4,700 6,550
TOOTSIE ROLL INDUSTRIES IN COMM 890516107 487,494 10,600 X 10,600
TRANSOCEAN SEDCO FOREX COMM G90078109 3,455,721 103,994 X 4,430 99,564
TRIAD GUARANTY INC COMM 895925105 555,329 12,775 X 5,300 7,475
TRIBUNE CO NEW COMM 896047107 442,326 9,730 X 4,050 5,680
TRIUMPH GROUP INC COMM 896818101 356,720 9,100 X 3,400 5,700
TRW INC COMM 872649108 218,439 4,244 X 4,244
TYCO INTERNATIONAL LTD NEW COMM 902124106 1,263,195 39,084 X 6,244 32,840
UBS AG COMM H8920G551 415,896 9,042 X 9,042
UCBH HOLDINGS INC COMM 90262T308 475,152 13,206 X 13,206
UNION PACIFIC CORP COMM 907818108 3,318,090 53,397 X 3,950 49,447
UNISYS CORP COMM 909214108 293,332 23,225 X 23,225
UNITED HEALTHCARE INC COMM 91324P102 2,361,379 30,900 X 425 30,475
UNITED STATIONERS INC COMM 913004107 566,738 14,875 X 6,200 8,675
UNITED TECHNOLOGIES CORP COMM 913017109 6,125,878 82,559 X 47,875 34,684
UNIVERSAL FOREST COMM 913543104 477,800 20,000 X 6,200 13,800
UNIVERSAL HEALTH SERVICES COMM 913903100 338,250 8,200 X 3,200 5,000
UNOCAL CORP COMM 915289102 2,884,287 74,051 X 4,510 69,541
US BANCORP DELAWARE NEW COMM 902973304 24,200,254 1,072,231 X 249,479 822,752
VALERO ENERGY NEW COMM 91913Y100 2,951,689 59,606 X 46,200 13,406
VERIZON COMMUNICATIONS COMM 92343V104 9,905,599 214,872 X 17,579 197,293
VIACOM INC CLASS B COMMON COMM 925524308 4,262,171 88,116 X 4,169 83,947
VINTAGE PETROLEUM INC COMM 927460105 465,623 31,675 X 9,400 22,275
WACHOVIA CORP COMM 929903102 1,424,614 38,420 X 38,420
WAL MART STORES INC COMM 931142103 2,239,289 36,530 X 1,100 35,430
WALGREEN CO COMM 931422109 19,201,141 489,950 X 169,700 320,250
WALT DISNEY COMPANY COMM 254687106 1,846,562 80,007 X 2,200 77,807
WASHINGTON MUTUAL SAVINGS COMM 939322103 9,955,433 300,496 X 136,075 164,421
WATSCO INC CLASS A COMM 942622200 354,323 19,850 X 6,550 13,300
WELLPOINT HEALTH NETWORKS COMM 94973H108 13,170,140 206,850 X 82,900 123,950
WELLS FARGO & CO COMM 949746101 17,006,049 344,252 X 146,825 197,427
WENDYS INTERNATIONAL INC COMM 950590109 8,488,247 242,660 X 129,485 113,175
WORLDCOM INC-WORLDCOM GROU COMM 98157D106 1,825,253 270,809 X 16,125 254,684
WYETH COMM 983024100 14,568,720 221,915 X 12,691 209,224
XL CAPITAL LIMITED COMM G98255105 998,845 10,700 X 500 10,200
ZIMMER HOLDINGS INC COMM 98956P102 202,802 5,956 X 345 5,611
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