UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 13F
Form 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: September 30, 2003
Check here if Amendment [ ]; Amendment Number: ____
This Amendment (Check only one.): [ ] is a restatement.
[ ] adds new holdings entries.
Institutional Investment Manager Filing this Report:
Name: BP p.l.c.
Address: 1 St James's Square
London SW1Y 4PD
England
Form 13F File Number: 28-05353
The institutional investment manager filing this report and the person by whom
it is signed hereby represent that the person signing the report is authorized
to submit it, that all information contained herein is true, correct and
complete, and that it is understood that all required items, statements,
schedules, lists, and tables, are considered integral parts of this form.
Person Signing this Report on Behalf of Reporting Manager:
Name: Dr. Byron E. Grote
Title: Chief Financial Officer and Executive Director
Phone: 020 7496 4263
Signature, Place, and Date of Signing:
/s/Byron Grote London, UK November 6, 2003
------------------ ---------------- -----------------
[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: 2
-----------
Form 13F Information Table Entry Total: 339
-----------
Form 13F Information Table Value Total: $ 1,084,180
-----------
(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
02 28-00312 BP Corporation North America Inc.
BP P.L.C.
FORM 13F INFORMATION TABLE
SEPTEMBER 30, 2003
TITLE MARKET VOTING AUTHORITY
OF VALUE SHARES SH/ INVESTMENT --------------------
ISSUER CLASS CUSIP (USD 000) /PRN AMT PRN DISCRETION MANAGERS SOLE SHARED NONE
1ST DATA CP USD0.01 COM 319963104 4,396 110,000 SH DEFINED 01 110,000
3COM CORP COM 885535104 236 40,000 SH DEFINED 01 40,000
3M COM 88579Y101 5,871 85,000 SH DEFINED 01 85,000
5TH 3RD BANCO NPV COM 316773100 3,827 69,000 SH DEFINED 01 69,000
ABBOTT LABS COM 002824100 7,531 177,000 SH DEFINED 01 177,000
ADOBE SYSTEMS COM 00724F101 1,178 30,000 SH DEFINED 01 30,000
AFLAC USD 0.10 COM 001055102 2,907 90,000 SH DEFINED 01 90,000
AIR PROD&CHEM COM 009158106 1,804 40,000 SH DEFINED 01 40,000
ALBERTSON'S COM 013104104 720 35,000 SH DEFINED 01 35,000
ALCOA INC COM 013817101 2,747 105,000 SH DEFINED 01 105,000
ALLOS THERAPEUTICS COM STK USD COM 019777101 136 44,172 SH DEFINED 02 44,172
ALLSTATE CORP COM 020002101 3,105 85,000 SH DEFINED 01 85,000
ALLTEL COM 020039103 2,224 48,000 SH DEFINED 01 48,000
ALTERA CP COM 021441100 756 40,000 SH DEFINED 01 40,000
ALTRIA GRP INC COM 02209S103 10,074 230,000 SH DEFINED 01 230,000
AMAZON COM COM 023135106 1,934 40,000 SH DEFINED 01 40,000
AMBAC FIN COM 023139108 640 10,000 SH DEFINED 01 10,000
AMDOCS COM G02602103 470 25,000 SH DEFINED 01 25,000
AMER INT GRP COM 026874107 16,445 285,000 SH DEFINED 01 285,000
AMER MOV ADR20 ADR 02364W105 1,849 80,000 SH DEFINED 01 80,000
AMER MOV ADR20 ADR 02364W204 2,251 100,000 SH DEFINED 01 100,000
AMEREN USD 0.01 COM 023608102 1,502 35,000 SH DEFINED 01 35,000
AMERICAN EXPRESS COM 025816109 6,421 142,500 SH DEFINED 01 142,500
AMGEN USD 0.0001 COM 031162100 10,202 158,000 SH DEFINED 01 158,000
AMSOUTH BNCP COM 032165102 743 35,000 SH DEFINED 01 35,000
ANADARKO PET COM 032511107 1,253 30,000 SH DEFINED 01 30,000
ANALOG USD 0.166 COM 032654105 1,521 40,000 SH DEFINED 01 40,000
ANHEUSER BUSCH COM 035229103 5,743 116,400 SH DEFINED 01 116,400
AOL TIME WARNER COM 00184A105 7,102 470,000 SH DEFINED 01 470,000
APACHE CORP USD 1.25 COM 037411105 1,456 21,000 SH DEFINED 01 21,000
APP MATERIAL COM 038222105 3,592 198,000 SH DEFINED 01 198,000
APPLE COM NPV COM 037833100 825 40,000 SH DEFINED 01 40,000
APPLERA BIOSYS COM 038020103 446 20,000 SH DEFINED 01 20,000
ARGLNT TECH COM 00846U101 1,105 50,000 SH DEFINED 01 50,000
AT&T CORP COM 001957505 1,787 82,909 SH DEFINED 01 82,909
AT&T WIRELESS COM 00209A106 2,454 300,000 SH DEFINED 01 300,000
AT&T-LIB MED CORP COM 530718105 3,103 311,200 SH DEFINED 01 311,200
AUTO DATA USD 0.10 COM 053015103 2,904 81,000 SH DEFINED 01 81,000
AVON PRODS COM 054303102 1,937 30,000 SH DEFINED 01 30,000
BAKER HUGHES USD 1 COM 057224107 1,110 37,500 SH DEFINED 01 37,500
BANK ONE CP COM 06423A103 5,024 130,000 SH DEFINED 01 130,000
BAXTER INTL COM 071813109 2,499 86,000 SH DEFINED 01 86,000
BB&T CP USD5 COM 054937107 1,796 50,000 SH DEFINED 01 50,000
BEA SYSTEM USD 0.001 COM 073325102 602 50,000 SH DEFINED 01 50,000
BECTON DICK USD 1 COM 075887109 903 25,000 SH DEFINED 01 25,000
BED BATH&BYND USD 0.01 COM 075896100 955 25,000 SH DEFINED 01 25,000
BELLSOUTH COM 079860102 4,618 195,000 SH DEFINED 01 195,000
BERKSHIRE HATH'A' COM 084670108 9,000 120 SH DEFINED 01 120
BEST BUY USD 0.10 COM 086516101 1,782 37,500 SH DEFINED 01 37,500
BK NEWYORK USD 7.50 COM 064057102 2,038 70,000 SH DEFINED 01 70,000
BK OF AMER USD.01 COM 060505104 14,828 190,000 SH DEFINED 01 190,000
BLACK&DECKER USD 0.50 COM 091797100 811 20,000 SH DEFINED 01 20,000
BLOCK(H&R)NPV COM 093671105 777 18,000 SH DEFINED 01 18,000
BMC SOFTWARE COM 055921100 488 35,000 SH DEFINED 01 35,000
BOEING COM 097023105 3,021 88,000 SH DEFINED 01 88,000
BOSTON SCIEN USD 0.01 COM 101137107 2,105 33,000 SH DEFINED 01 33,000
BROADCOM COM 111320107 559 21,000 SH DEFINED 01 21,000
BRSTL-MYER SQ USD 0.10 COM 110122108 4,988 194,400 SH DEFINED 01 194,400
BURLINGTN RES USD 0.01 COM 122014103 1,446 30,000 SH DEFINED 01 30,000
BURLINGTON N. NPV COM 12189T104 1,097 38,000 SH DEFINED 01 38,000
CAP1 FINL COM 14040H105 856 15,000 SH DEFINED 01 15,000
CARDINAL HLTH NPV COM 14149Y108 3,649 62,500 SH DEFINED 01 62,500
CARSO GBL SPN.ADR ADR 14574P107 394 160,000 SH DEFINED 01 160,000
CATERPILLAR COM 149123101 3,408 49,500 SH DEFINED 01 49,500
CEMX ADR 5 CPO ADR 151290889 3,704 148,450 SH DEFINED 01 148,450
CENDANT USD 0.01 COM 151313103 2,243 120,000 SH DEFINED 01 120,000
CERIDIAN COM 15677T106 559 30,000 SH DEFINED 01 30,000
CHEVRONTEXACO COM 166751107 8,935 125,050 SH DEFINED 01 125,050
CHUBB CORP USD 1 COM 171232101 973 15,000 SH DEFINED 01 15,000
CIENA CP USD 0.01 COM 171779101 295 50,000 SH DEFINED 01 50,000
CIGNA CP COM 125509109 759 17,000 SH DEFINED 01 17,000
CINERGY USD 0.01 COM 172474108 807 22,000 SH DEFINED 01 22,000
CISCO SYSTEMS COM 17275R102 15,358 786,000 SH DEFINED 01 786,000
CITIGROUP USD0.01 COM 172967101 26,608 584,669 SH DEFINED 01 584,669
CLEAR CHANNL COM 184502102 3,332 87,000 SH DEFINED 01 87,000
CNTRPNT ENRGY COM 75952J108 284 31,000 SH DEFINED 01 31,000
COCA COLA USD 0.25 COM 191216100 10,998 256,000 SH DEFINED 01 256,000
COCA-COLA ENT USD 1 COM 191219104 762 40,000 SH DEFINED 01 40,000
COLGATE-PALMOLIVE COM 194162103 5,092 91,100 SH DEFINED 01 91,100
COMCAST CORP(NEW) COM 20030N200 4,591 155,400 SH DEFINED 01 155,400
COMCAST'A' COM 20030N101 3,704 119,955 SH DEFINED 01 119,955
COMERICA USD 5 COM 200340107 1,025 22,000 SH DEFINED 01 22,000
COMP ASOC INT COM 204912109 1,201 46,000 SH DEFINED 01 46,000
COMP SCIENCES USD 1 COM 205363104 751 20,000 SH DEFINED 01 20,000
COMVERSE TEC COM 205862402 449 30,000 SH DEFINED 01 30,000
CONOCOPHILLIPS COM 718507106 4,112 75,100 SH DEFINED 01 75,100
CONSL EDISON USD 0.10 COM 209115104 1,223 30,000 SH DEFINED 01 30,000
CORNING USD 0.50 COM 219350105 1,272 135,000 SH DEFINED 01 135,000
COSTCO WHLESLE COM 22160K105 1,927 62,000 SH DEFINED 01 62,000
COX COMM'A' USD 1 COM 224044107 949 30,000 SH DEFINED 01 30,000
CRNVL CORP COM 143658300 2,138 65,000 SH DEFINED 01 65,000
CSX CORP COM 126408103 995 34,000 SH DEFINED 01 34,000
CVS CORP COM 126650100 1,553 50,000 SH DEFINED 01 50,000
DANAHER 0.01 COM 235851102 960 13,000 SH DEFINED 01 13,000
DARDEN RESTCSN COM 237194105 380 20,000 SH DEFINED 01 20,000
DEERE&CO USD 1 COM 244199105 1,413 26,500 SH DEFINED 01 26,500
DELL INC COM 247025109 9,600 287,500 SH DEFINED 01 287,500
DEVON ENERGY COM 25179M103 1,807 37,500 SH DEFINED 01 37,500
DLP AUTO SYSM COM 247126105 543 60,000 SH DEFINED 01 60,000
DOLLAR GEN USD 0.50 COM 256669102 925 46,250 SH DEFINED 01 46,250
DOMINION RES(VIRG) COM 257470104 3,404 55,000 SH DEFINED 01 55,000
DOW CHEM COM 260543103 3,254 100,000 SH DEFINED 01 100,000
DSL.NET INC COM STK COM 262506108 294 546,486 SH DEFINED 02 546,486
DTE ENRGY COM 233331107 701 19,000 SH DEFINED 01 19,000
DU PONTC/TUSD0.30 COM 263534109 5,401 135,000 SH DEFINED 01 135,000
DUKE ENGY NPV COM 264399106 2,048 115,000 SH DEFINED 01 115,000
EATON CORP COM 278058102 1,063 12,000 SH DEFINED 01 12,000
EBAY IUSD0.01 COM 278642103 2,461 46,000 SH DEFINED 01 46,000
ECOLAB USD 1 COM 278865100 757 30,000 SH DEFINED 01 30,000
EL PASO CP COM 28368B102 474 65,000 SH DEFINED 01 65,000
ELE DTA SYS USD 0.01 COM 285661104 1,111 55,000 SH DEFINED 01 55,000
ELEC ARTS COM 285512109 1,383 15,000 SH DEFINED 01 15,000
EMC CORP USD 0.01 COM 268648102 3,031 240,000 SH DEFINED 01 240,000
EMERSON ELEC USD 1 COM 291011104 2,369 45,000 SH DEFINED 01 45,000
ENGELHARD COM 292845104 830 30,000 SH DEFINED 01 30,000
ENTERGY USD 0.01 COM 29364G103 1,354 25,000 SH DEFINED 01 25,000
EQTY OFCE USD0.01 COM 294741103 1,377 50,000 SH DEFINED 01 50,000
EXELON CP NPV COM 30161N101 3,492 55,000 SH DEFINED 01 55,000
EXULT INC. COM 302284104 15,316 1,904,986 SH SOLE 1,904,986
EXXON MOB COM 30231G102 27,633 755,000 SH DEFINED 01 755,000
FANNIE MAE COM 313586109 7,020 100,000 SH DEFINED 01 100,000
FED DEPT US USD 0.01 COM 31410H101 838 20,000 SH DEFINED 01 20,000
FEDEX CORP COM 31428X106 1,804 28,000 SH DEFINED 01 28,000
FIRST ENERGY USD.1 COM 337932107 957 30,000 SH DEFINED 01 30,000
FLEET BSTN FINL COM 339030108 3,286 109,000 SH DEFINED 01 109,000
FLUOR COM 343861100 560 15,000 SH DEFINED 01 15,000
FOM ECON ADR ADR 344419106 1,144 30,000 SH DEFINED 01 30,000
FORD MTR COM 345370860 2,177 202,097 SH DEFINED 01 202,097
FOREST LABS COM 345838106 2,572 50,000 SH DEFINED 01 50,000
FOX ENT GRP'A' COM 35138T107 980 35,000 SH DEFINED 01 35,000
FPL GR USD 0.01 COM 302571104 2,212 35,000 SH DEFINED 01 35,000
FRANKLIN RES COM 354613101 1,326 30,000 SH DEFINED 01 30,000
FRED MAC USD0.21 COM 313400301 3,952 75,500 SH DEFINED 01 75,500
GANNETT CO USD 1 COM 364730101 3,800 49,000 SH DEFINED 01 49,000
GAP INC USD 0.05 COM 364760108 1,455 85,000 SH DEFINED 01 85,000
GEN DYN COM 369550108 1,561 20,000 SH DEFINED 01 20,000
GEN ELEC COM 369604103 32,642 1,095,000 SH DEFINED 01 1,095,000
GEN MOT 'H'USD0.10 COM 370442832 1,145 80,000 SH DEFINED 01 80,000
GEN MOTORS COM 370442105 2,149 52,500 SH DEFINED 01 52,500
GENENTECH COM 368710406 1,803 22,500 SH DEFINED 01 22,500
GENERAL MLS USD 0.1 COM 370334104 2,824 60,000 SH DEFINED 01 60,000
GEORGIA PAC USD 0.80 COM 373298108 873 36,000 SH DEFINED 01 36,000
GILEAD SCIE 0.001 COM 375558103 1,230 22,000 SH DEFINED 01 22,000
GILLETTE CO USD 1 COM 375766102 3,198 100,000 SH DEFINED 01 100,000
GLBSANFE CORP COM G3930E101 623 26,000 SH DEFINED 01 26,000
GLD SACHS COM 38141G104 2,098 25,000 SH DEFINED 01 25,000
GOLDEN WEST USD 0.10 COM 381317106 1,790 20,000 SH DEFINED 01 20,000
GPO CARSO SPN.ADR ADR 400485207 630 100,000 SH DEFINED 01 100,000
GRAINGER USD 0.50 COM 384802104 476 10,000 SH DEFINED 01 10,000
GRUPO TELE SP GDR GDR 40049J206 1,647 45,000 SH DEFINED 01 45,000
GUIDNT CRP NPV COM 401698105 1,312 28,000 SH DEFINED 01 28,000
HALLIBRTON COM 406216101 1,213 50,000 SH DEFINED 01 50,000
HARLEY DAVID USD 0.01 COM 412822108 2,097 43,500 SH DEFINED 01 43,500
HARRAHS ENT USD 0.10 COM 413619107 484 11,500 SH DEFINED 01 11,500
HARTFORD FINL USD COM 416515104 1,421 27,000 SH DEFINED 01 27,000
HCA INC COM 404119109 1,825 49,500 SH DEFINED 01 49,500
HEINZ(HJ) COM 423074103 1,285 37,500 SH DEFINED 01 37,500
HELL TELECOM ADS COM 423325307 151 27,778 SH DEFINED 01 27,778
HERSHEY FOODS USD 1 COM 427866108 727 10,000 SH DEFINED 01 10,000
HEWLETT-PKARD USD 0.01 COM 428236103 6,776 350,000 SH DEFINED 01 350,000
HIBERNIA'A'NPV COM 428656102 750 37,000 SH DEFINED 01 37,000
HILTON HOTELS USD 2.50 COM 432848109 811 50,000 SH DEFINED 01 50,000
HNYWELL INTL COM 438516106 2,240 85,000 SH DEFINED 01 85,000
HOME DEPOT USD 0.05 COM 437076102 7,835 246,000 SH DEFINED 01 246,000
IBM COM 459200101 16,341 185,000 SH DEFINED 01 185,000
ILL TOOL NPV COM 452308109 2,650 40,000 SH DEFINED 01 40,000
INDIA FUND COM 454089103 4,710 309,637 SH DEFINED 01 309,637
INGRSL-RND'A' COM G4776G101 1,496 28,000 SH DEFINED 01 28,000
INT PAPER USD 1 COM 460146103 2,107 54,000 SH DEFINED 01 54,000
INTEL COM 458140100 19,876 722,500 SH DEFINED 01 722,500
INTERPUB USD 0.10 COM 460690100 282 20,000 SH DEFINED 01 20,000
INTUIT 0.01 COM 461202103 1,216 25,200 SH DEFINED 01 25,200
IONA TECH ADR ADR 46206P109 156 65,000 SH DEFINED 01 65,000
ITT INDUST COM 450911102 1,197 20,000 SH DEFINED 01 20,000
J HANCOCK FIN SER COM 410145106 1,014 30,000 SH DEFINED 01 30,000
JDS UNIPHASE CRP COM 46612J101 504 40,000 SH DEFINED 01 140,000
JOHNSN CNTL USD 0.1666 COM 478366107 1,892 20,000 SH DEFINED 01 20,000
JOHNSN&JOHNSN COM 478160104 15,846 320,000 SH DEFINED 01 320,000
JP MORGAN CHASE COM 46625H100 7,501 218,500 SH DEFINED 01 218,500
JUNIPER NTWRK COM 48203R104 671 45,000 SH DEFINED 01 45,000
KELLOGG USD 0.25 COM 487836108 1,417 42,500 SH DEFINED 01 42,500
KERR-MCGEE USD 1 COM 492386107 1,339 30,000 SH DEFINED 01 30,000
KEYCORP USD 1 COM 493267108 1,151 45,000 SH DEFINED 01 45,000
KIMBERLY CLK ADR ADR 494368204 297 24,000 SH DEFINED 01 24,000
KIMBERLY-CL USD 1.25 COM 494368103 2,463 48,000 SH DEFINED 01 48,000
KLA TENCOR COM 482480100 1,079 21,000 SH DEFINED 01 21,000
KOHLS CORP COM 500255104 1,926 36,000 SH DEFINED 01 36,000
KRFT FDS INC'A' COM 50075N104 2,065 70,000 SH DEFINED 01 70,000
KROGER USD 1 COM 501044101 1,698 95,000 SH DEFINED 01 95,000
LASON SYS USD 0.01 COM 51808R107 0 1,824 SH DEFINED 01 1,824
LEHMAN BROS USD 0.10 COM 524908100 2,211 32,000 SH DEFINED 01 32,000
LEXMARK INTL'A' USD COM 529771107 945 15,000 SH DEFINED 01 15,000
LILLY ELI COM 532457108 7,277 122,500 SH DEFINED 01 122,500
LINCOLN NATL COM 534187109 708 20,000 SH DEFINED 01 20,000
LINEAR TECH NPV COM 535678106 1,253 35,000 SH DEFINED 01 35,000
LOCK MARTIN COM 539830109 2,538 55,000 SH DEFINED 01 55,000
LOWE'S COS USD 0.50 COM 548661107 5,398 104,000 SH DEFINED 01 104,000
LSI LOGIC COM 502161102 405 45,000 SH DEFINED 01 45,000
LTD BRNDS INC COM 532716107 754 50,000 SH DEFINED 01 50,000
LUCENT TECH USD 0.01 COM 549463107 950 440,000 SH DEFINED 01 440,000
M.B.N.A. USD 0.01 COM 55262L100 3,534 155,000 SH DEFINED 01 155,000
MANULIFE FINL CORP COM (ARCO) COM 56501R106 69,617 2,408,906 SH SOLE 2,408,906
MARATHON OIL COM 565849106 855 30,000 SH DEFINED 01 30,000
MARRIOTT INT'A' COM 571903202 1,721 40,000 SH DEFINED 01 40,000
MARSH&MCLN COM 571748102 3,904 82,000 SH DEFINED 01 82,000
MASCO CORPN USD 1 COM 574599106 1,469 60,000 SH DEFINED 01 60,000
MATAV RT ADS COM 576561104 1,495 80,000 SH DEFINED 01 80,000
MATTEL INC USD 1 COM 577081102 758 40,000 SH DEFINED 01 40,000
MAXIM INTER USD COM 57772K101 1,462 37,000 SH DEFINED 01 37,000
MBIA INC COM 55262C100 825 15,000 SH DEFINED 01 15,000
MCDONALD'S COM 580135101 3,060 130,000 SH DEFINED 01 130,000
MCGRAW HILL USD 1 COM 580645109 1,429 23,000 SH DEFINED 01 23,000
MCKESSON CORP COM 58155Q103 1,332 40,000 SH DEFINED 01 40,000
MDCHLTH SLTN COM 58405U102 526 20,270 SH DEFINED 01 20,270
MEADWESTVACO COM 583334107 510 20,000 SH DEFINED 01 20,000
MEDIMMUNE COM 584699102 1,568 47,500 SH DEFINED 01 47,500
MEDTRONIC INC USD 0.10 COM 585055106 6,428 137,000 SH DEFINED 01 137,000
MELLON FINL COM 58551A108 1,341 44,500 SH DEFINED 01 44,500
MERCK&CO NPV COM 589331107 12,706 251,000 SH DEFINED 01 251,000
MERRIL LYNCH COM 590188108 4,791 89,500 SH DEFINED 01 89,500
METLIFE INC COM 59156R108 1,823 65,000 SH DEFINED 01 65,000
MGN STN COM 617446448 6,131 121,500 SH DEFINED 01 121,500
MICRON TECH COM 595112103 939 70,000 SH DEFINED 01 70,000
MICROSOFT COM 594918104 32,236 1,160,000 SH DEFINED 01 1,160,000
MILLNUM PHARM COM 599902103 539 35,000 SH DEFINED 01 35,000
MOLEX COM 608554101 429 15,000 SH DEFINED 01 15,000
MOODYS COM 615369105 1,787 32,500 SH DEFINED 01 32,500
MOTOROLA COM 620076109 2,963 247,500 SH DEFINED 01 247,500
MYLAN LABS COM 628530107 773 20,000 SH DEFINED 01 20,000
N.FORK BANC COM 659424105 2,276 65,500 SH DEFINED 01 65,500
NAT CITY CORP COM 635405103 1,915 65,000 SH DEFINED 01 65,000
NAT SEMICON USD 0.50 COM 637640103 646 20,000 SH DEFINED 01 20,000
NATUZZI ADR ADR 456478106 1,850 181,340 SH DEFINED 01 181,340
NEWELL RUBBERMAID COM 651229106 325 15,000 SH DEFINED 01 15,000
NEWMONT USD 1.60 COM 651639106 2,443 62,500 SH DEFINED 01 62,500
NEXTL COMM INC COM 65332V103 2,166 110,000 SH DEFINED 01 110,000
NIKE'B'NPV COM 654106103 1,521 25,000 SH DEFINED 01 25,000
NORFOLK S. USD 1 COM 655844108 925 50,000 SH DEFINED 01 50,000
NRTHN TST COM 665859104 849 20,000 SH DEFINED 01 20,000
NRTHROP GRUM COM 666807102 1,811 21,000 SH DEFINED 01 21,000
NY TIMES COM 650111107 1,499 34,500 SH DEFINED 01 34,500
OMNICOM USD 0.50 COM 681919106 1,911 26,600 SH DEFINED 01 26,600
ORACLE CP USD 0.01 COM 68389X105 6,620 590,000 SH DEFINED 01 590,000
ORBOTECH COM M75253100 1,278 62,500 SH DEFINED 01 62,500
P G&E COM 69331C108 1,314 55,000 SH DEFINED 01 55,000
PAYCHEX COM 704326107 1,866 55,000 SH DEFINED 01 55,000
PENNEY(JC)CO USD 0.50 COM 708160106 748 35,000 SH DEFINED 01 35,000
PEOPLESFT 0.01 COM 712713106 1,182 65,000 SH DEFINED 01 65,000
PEPSICO CAP STK USD COM 713448108 9,391 204,900 SH DEFINED 01 204,900
PER PERSER ADR144A ADR 715680104 1,571 139,000 SH DEFINED 01 139,000
PFIZER COM 717081103 27,664 910,610 SH DEFINED 01 910,610
PHELPS DODGE USD 6.25 COM 717265102 936 20,000 SH DEFINED 01 20,000
PHOENIX COS INC NEW COM 71902E109 1,176 101,817 SH SOLE 101,817
PITNEY BOWES COM 724479100 958 25,000 SH DEFINED 01 25,000
PPG INDS USD 1 2/3 COM 693506107 1,044 20,000 SH DEFINED 01 20,000
PPL CP COM 69351T106 1,843 45,000 SH DEFINED 01 45,000
PRAXAIR USD 0.01 COM 74005P104 929 15,000 SH DEFINED 01 15,000
PRGRSS ENRGY COM 743263105 1,200 27,000 SH DEFINED 01 27,000
PRINCIPAL FINANCIAL GROUP IN COM 74251V102 321 10,354 SH SOLE 10,354
PRKM SFW GDR RGS GDR 743394207 730 35,000 SH DEFINED 01 35,000
PROCTR&GMBLE COM 742718109 14,573 157,000 SH DEFINED 01 157,000
PRUDENT FINANCIAL COM 744320102 1,270 34,000 SH DEFINED 01 34,000
PUBLIC SERV NPV COM 744573106 1,050 25,000 SH DEFINED 01 25,000
QUALCOMM COM 747525103 3,542 85,000 SH DEFINED 01 85,000
RAYTHEON CO COM 755111507 1,400 50,000 SH DEFINED 01 50,000
RCHTR GEDN GDR'RS' GDR 368467304 5,093 52,000 SH DEFINED 01 52,000
RCKWLL CLLNS COM 774341101 757 30,000 SH DEFINED 01 30,000
ROC TAIWN SHS BEN COM 749651105 989 220,284 SH DEFINED 01 220,284
ROCKWELL AUTO COM 773903109 787 30,000 SH DEFINED 01 30,000
ROHM&HAAS COM 775371107 502 15,000 SH DEFINED 01 15,000
SAFEWAY INC USD 0.01 COM 786514208 1,032 45,000 SH DEFINED 01 45,000
SANMINA CORP COM 800907107 679 70,000 SH DEFINED 01 70,000
SARA LEE COM 803111103 1,561 85,000 SH DEFINED 01 85,000
SBC COMM USD 1 COM 78387G103 8,010 360,000 SH DEFINED 01 360,000
SCHERING-PLOUGH COM 806605101 2,088 137,000 SH DEFINED 01 137,000
SCHLMBGR USD 1 COM 806857108 3,388 70,000 SH DEFINED 01 70,000
SCHWAB CHARL USD 0.01 COM 808513105 1,548 130,000 SH DEFINED 01 130,000
SEARS ROE USD 0.75 COM 812387108 1,749 40,000 SH DEFINED 01 40,000
SIEBEL SYS USD 0.001 COM 826170102 583 60,000 SH DEFINED 01 60,000
SIGMA ALDRICH USD 1 COM 826552101 416 8,000 SH DEFINED 01 8,000
SIMON PROP COM 828806109 1,133 26,000 SH DEFINED 01 26,000
SLM CORP COM 78442P106 2,805 72,000 SH DEFINED 01 72,000
SOLECTRON 0.001 COM 834182107 571 97,550 SH DEFINED 01 97,550
SOUTHERN CO USD 5 COM 842587107 2,346 80,000 SH DEFINED 01 80,000
SPRINT CR(PCS GRP) COM 852061506 573 100,000 SH DEFINED 01 100,000
SPRINT USD 2.50 COM 852061100 1,510 100,000 SH DEFINED 01 100,000
SPX COM 784635104 611 13,500 SH DEFINED 01 13,500
ST PAUL COS NPV COM 792860108 1,296 35,000 SH DEFINED 01 35,000
STAPLES USD COM 855030102 1,805 76,000 SH DEFINED 01 76,000
STARBUCK NPV COM 855244109 1,584 55,000 SH DEFINED 01 55,000
STARWD HOTELS'B' COM 85590A203 1,009 29,000 SH DEFINED 01 29,000
STATE ST CP USD 1 COM 857477103 1,620 36,000 SH DEFINED 01 36,000
STET HELL TEL ADR ADR 859823106 648 57,737 SH DEFINED 01 57,737
STRYKER CORP USD 0.10 COM 863667101 1,130 15,000 SH DEFINED 01 15,000
SUN MICRO COM 866810104 1,159 350,000 SH DEFINED 01 350,000
SW AIR USD 1 COM 844741108 1,593 90,000 SH DEFINED 01 90,000
SYNOVUS FNCL COM 87161C105 1,299 52,000 SH DEFINED 01 52,000
SYSCO CORP USD 1 COM 871829107 3,294 100,700 SH DEFINED 01 100,700
TARGET CP COM 87612E106 3,462 92,000 SH DEFINED 01 92,000
TEFNDS MEX ADR ADR 879403707 4,118 135,000 SH DEFINED 01 135,000
TELE MEX ADS COM 879403780 1,848 60,500 SH DEFINED 01 60,500
TEMPLE-INLAND USD 1 COM 879868107 486 10,000 SH DEFINED 01 10,000
TENET HLTH COM 88033G103 796 55,000 SH DEFINED 01 55,000
TERADYNE COM 880770102 372 20,000 SH DEFINED 01 20,000
TEXAS INSTS USD 1 COM 882508104 4,560 200,000 SH DEFINED 01 200,000
TEXTRON INC USD 0.125 COM 883203101 789 20,000 SH DEFINED 01 20,000
TJX CO USD 1 COM 872540109 1,554 80,000 SH DEFINED 01 80,000
TRANSOCN INC COM G90078109 800 40,000 SH DEFINED 01 40,000
TRAV PROP CAS'B' COM 89420G406 2,208 139,037 SH DEFINED 01 139,037
TRAV PRP CAS'A' COM 89420G109 238 15,000 SH DEFINED 01 15,000
TRIBUNE(DEL)NPV COM 896047107 1,607 35,000 SH DEFINED 01 35,000
TV AZTECA ADS COM 901145102 237 31,600 SH DEFINED 01 31,600
TXU CORP COM 873168108 942 40,000 SH DEFINED 01 40,000
TYCO INT LD COM 902124106 4,597 225,000 SH DEFINED 01 225,000
UNION PAC CORP COM 907818108 2,007 34,500 SH DEFINED 01 34,500
UNISYS CP COM 909214108 406 30,000 SH DEFINED 01 30,000
UNITEDHEALTH GRP COM 910581107 4,680 93,000 SH DEFINED 01 93,000
UPS'B' COM 911312106 2,265 35,500 SH DEFINED 01 35,500
US BANCORP COM 917292104 4,990 208,000 SH DEFINED 01 208,000
UST INC(DEL) USD 0.50 COM 902911106 686 19,500 SH DEFINED 01 19,500
UTD TECH COM 913017109 4,444 57,500 SH DEFINED 01 57,500
VA LINUX SYSTEMS COM 91819B105 213 51,609 SH DEFINED 02 51,609
VERITAS SFTWRE NPV COM 923436109 1,413 45,000 SH DEFINED 01 45,000
VERIZON COMM COM 92343V104 9,709 99,300 SH DEFINED 01 299,300
VIACOM N.VTG'B' COM 925524308 7,660 200,000 SH DEFINED 01 200,000
W.DISNEY HDS DIS COM 254687106 4,881 242,000 SH DEFINED 01 242,000
WACHOVIA CRP USD COM 929903102 7,291 177,000 SH DEFINED 01 177,000
WAL MART STRS USD 0.10 COM 931142103 20,106 360,000 SH DEFINED 01 360,000
WALGREEN COM 931422109 3,370 110,000 SH DEFINED 01 110,000
WASH MUT COM 939322103 4,016 102,000 SH DEFINED 01 102,000
WASTE MGMT COM 94106L109 2,486 95,000 SH DEFINED 01 95,000
WELLPOINT USD 0.01 COM 94973H108 1,503 19,500 SH DEFINED 01 19,500
WELLS FARGO COM 949746101 9,888 192,000 SH DEFINED 01 192,000
WEYERHAEUSER USD 1.25 COM 962166104 1,724 29,500 SH DEFINED 01 29,500
WYETH COM 983024100 6,569 142,500 SH DEFINED 01 142,500
X1LINX USD 0.01 COM 983919101 1,140 40,000 SH DEFINED 01 40,000
XEROX CORP USD 1 COM 984121103 872 85,000 SH DEFINED 01 85,000
YAHOO INC COM 984332106 1,769 50,000 SH DEFINED 01 50,000
ZIMMER HOLDINGS COM 98956P102 1,653 30,000 SH DEFINED 01 30,000
TOTAL 1084,180