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: September 25, 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: Michael J. Burns, Assistant Treasurer (408) 765-7577 --------------------------------------------------------------- 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/Michael J. Burns Santa Clara, California - ------------------- November 12, 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: 350 Form 13F Information Table Value Total: $302,480 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. None. 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 ASM INTL N V COM N07045102 794 59,644 SH SOLE 59,644 MATRIXONE INC COM 57685P034 300 59,020 SH SOLE 59,020 MOTIVE INC COM 61980V107 1,439 129,953 SH SOLE 129,953 SIRF TECHNOLOGY HLDGS INC COM 82967H101 5,810 417,100 SH SOLE 417,100 VOLTERRA SEMICONDUCTOR CORP COM 928708106 7,433 591,312 SH SOLE 591,312 A D C TELECOMMUNICATIONS COM 000886101 44 24,050 SH SOLE 24,050 AFLAC INC COM 001055102 590 15,050 SH SOLE 15,050 AT&T CORP COM NEW 001957505 337 23,521 SH SOLE 23,521 ABBOTT LABS COM 002824100 1,959 46,244 SH SOLE 46,244 ADVANCED MICRO DEVICES INC COM 007903107 137 10,550 SH SOLE 10,550 AFFILIATED COMPUTER SERVICE CL A 008190100 223 4,000 SH SOLE 4,000 AIR PRODS & CHEMS INC COM 009158106 364 6,700 SH SOLE 6,700 ALBERTSONS INC COM 013104104 261 10,901 SH SOLE 10,901 ALCOA INC COM 013817101 862 25,652 SH SOLE 25,652 ALLERGAN INC COM 018490102 283 3,900 SH SOLE 3,900 ALLSTATE CORP COM 020002101 997 20,780 SH SOLE 20,780 ALLTEL CORP COM 020039103 500 9,100 SH SOLE 9,100 ALTERA CORP COM 021441100 217 11,100 SH SOLE 11,100 AMBAC FINL GROUP INC COM 023139108 256 3,200 SH SOLE 3,200 AMERADA HESS CORP COM 023551104 240 2,700 SH SOLE 2,700 AMEREN CORP COM 023608102 263 5,700 SH SOLE 5,700 AMERICAN ELEC PWR INC COM 025537101 373 11,682 SH SOLE 11,682 AMERICAN EXPRESS CO COM 025816109 1,943 37,750 SH SOLE 37,750 AMERICAN INTL GROUP INC COM 026874107 5,252 77,243 SH SOLE 77,243 AMERICAN STD COS INC DEL COM 029712106 249 6,400 SH SOLE 6,400 AMGEN INC COM 031162100 2,144 37,735 SH SOLE 37,735 AMSOUTH BANCORPORATION COM 032165102 254 10,400 SH SOLE 10,400 ANADARKO PETE CORP COM 032511107 497 7,493 SH SOLE 7,493 ANALOG DEVICES INC COM 032654105 430 11,100 SH SOLE 11,100 Page subtotal 34,451 1,679,980 ANHEUSER BUSCH COS INC COM 035229103 1,189 23,800 SH SOLE 23,800 AON CORP COM 037389103 266 9,256 SH SOLE 9,256 APACHE CORP COM 037411105 480 9,588 SH SOLE 9,588 APOLLO GROUP INC CL A 037604105 382 5,200 SH SOLE 5,200 APPLE COMPUTER INC COM 037833100 438 11,300 SH SOLE 11,300 APPLIED MATLS INC COM 038222105 823 49,900 SH SOLE 49,900 ARCHER DANIELS MIDLAND CO COM 039483102 325 19,167 SH SOLE 19,167 AUTOMATIC DATA PROCESSING IN COM 053015103 723 17,502 SH SOLE 17,502 AVAYA INC COM 053499109 183 13,121 SH SOLE 13,121 AVERY DENNISON CORP COM 053611109 217 3,300 SH SOLE 3,300 AVON PRODS INC COM 054303102 613 14,028 SH SOLE 14,028 BB&T CORP COM 054937107 659 16,600 SH SOLE 16,600 BJ SVCS CO COM 055482103 252 4,800 SH SOLE 4,800 BAKER HUGHES INC COM 057224107 431 9,860 SH SOLE 9,860 BANK OF AMERICA CORPORATION COM 060505104 5,235 120,814 SH SOLE 120,814 BANK NEW YORK INC COM 064057102 672 23,040 SH SOLE 23,040 BAXTER INTL INC COM 071813109 583 18,140 SH SOLE 18,140 BEAR STEARNS COS INC COM 073902108 296 3,074 SH SOLE 3,074 BECTON DICKINSON & CO COM 075887109 388 7,500 SH SOLE 7,500 BED BATH & BEYOND INC COM 075896100 330 8,900 SH SOLE 8,900 BELLSOUTH CORP COM 079860102 1,472 54,282 SH SOLE 54,282 BEST BUY INC COM 086516101 521 9,600 SH SOLE 9,600 BIOMET INC COM 090613100 349 7,450 SH SOLE 7,450 BLOCK H & R INC COM 093671105 257 5,200 SH SOLE 5,200 BOEING CO COM 097023105 1,291 25,015 SH SOLE 25,015 BOSTON SCIENTIFIC CORP COM 101137107 981 24,684 SH SOLE 24,684 BRISTOL MYERS SQUIBB CO COM 110122108 1,364 57,646 SH SOLE 57,646 BROADCOM CORP CL A 111320107 254 9,300 SH SOLE 9,300 BURLINGTON RES INC COM 122014103 479 11,744 SH SOLE 11,744 CIGNA CORP COM 125509109 292 4,200 SH SOLE 4,200 CSX CORP COM 126408103 12 6,400 SH SOLE 6,400 CVS CORP COM 126650100 497 11,800 SH SOLE 11,800 CALPINE CORP COM 131347106 36 12,300 SH SOLE 12,300 CAMPBELL SOUP CO COM 134429109 321 12,200 SH SOLE 12,200 Page subtotal 22,811 640,711 CAREMARK RX INC COM 141705103 433 13,500 SH SOLE 13,500 CARNIVAL CORP PAIRED 143658300 884 18,700 SH SOLE 18,700 CTF CATERPILLAR INC DEL COM 149123101 812 10,090 SH SOLE 10,090 CENDANT CORP COM 151313103 652 30,181 SH SOLE 30,181 CHEVRONTEXACO CORP COM 166764100 3,405 63,480 SH SOLE 63,480 CHIRON CORP COM 170040109 248 5,600 SH SOLE 5,600 CHUBB CORP COM 171232101 397 5,650 SH SOLE 5,650 CIENA CORP COM 171779101 33 16,800 SH SOLE 16,800 CINCINNATI FINL CORP COM 172062101 208 5,040 SH SOLE 5,040 CINERGY CORP COM 172474108 210 5,300 SH SOLE 5,300 CINTAS CORP COM 172908105 214 5,100 SH SOLE 5,100 CITIGROUP INC COM 172967101 6,754 153,093 SH SOLE 153,093 CLEAR CHANNEL COMMUNICATIONS COM 184502102 567 18,200 SH SOLE 18,200 CLOROX CO DEL COM 189054109 336 6,300 SH SOLE 6,300 COCA COLA CO COM 191216100 2,888 72,108 SH SOLE 72,108 COCA COLA ENTERPRISES INC COM 191219104 263 13,900 SH SOLE 13,900 COLGATE PALMOLIVE CO COM 194162103 714 15,800 SH SOLE 15,800 COMERICA INC COM 200340107 303 5,100 SH SOLE 5,100 COMPUTER ASSOC INTL INC COM 204912109 456 17,350 SH SOLE 17,350 COMPUTER SCIENCES CORP COM 205363104 264 5,600 SH SOLE 5,600 COMPUWARE CORP COM 205638109 59 11,400 SH SOLE 11,400 CONAGRA FOODS INC COM 205887102 401 15,600 SH SOLE 15,600 CONSOLIDATED EDISON INC COM 209115104 298 7,100 SH SOLE 7,100 CORNING INC COM 219350105 450 40,650 SH SOLE 40,650 COUNTRYWIDE FINANCIAL CORP COM 222372104 654 16,598 SH SOLE 16,598 DTE ENERGY CO COM 233331107 215 5,100 SH SOLE 5,100 DANAHER CORP DEL COM 235851102 467 9,100 SH SOLE 9,100 DEERE & CO COM 244199105 478 7,400 SH SOLE 7,400 DELPHI CORP COM 247126105 154 16,558 SH SOLE 16,558 DISNEY WALT CO COM 254687106 1,371 60,812 SH SOLE 60,812 DISNEY DONNELLEY R R & SONS CO COM 257867101 200 6,400 SH SOLE 6,400 DOVER CORP COM 260003108 233 6,000 SH SOLE 6,000 DOW CHEM CO COM 260543103 1,251 27,693 SH SOLE 27,693 Page subtotal 26,272 717,303 DU PONT E I DE NEMOURS & CO COM 263534109 1,269 29,650 SH SOLE 29,650 DUKE ENERGY CORP COM 264399106 621 27,146 SH SOLE 27,146 E M C CORP MASS COM 268648102 836 72,404 SH SOLE 72,404 E TRADE FINANCIAL CORP COM 269246104 123 10,800 SH SOLE 10,800 EASTMAN KODAK CO COM 277461109 275 8,550 SH SOLE 8,550 EATON CORP COM 278058102 285 4,500 SH SOLE 4,500 EBAY INC COM 278642103 1,793 19,500 SH SOLE 19,500 ECOLAB INC COM 278865100 7,600 SH SOLE 7,600 239 EDISON INTL COM 281020107 9,600 SH SOLE 9,600 254 ELECTRONIC ARTS INC COM 285512109 9,000 SH SOLE 9,000 414 ELECTRONIC DATA SYS NEW COM 285661104 14,300 SH SOLE 14,300 277 EMERSON ELEC CO COM 291011104 12,550 SH SOLE 12,550 777 EQUITY OFFICE PROPERTIES TRU COM 294741103 327 12,000 SH SOLE 12,000 FPL GROUP INC COM 302571104 376 5,500 SH SOLE 5,500 FEDERAL HOME LN MTG CORP COM 313400301 1,330 20,382 SH SOLE 20,382 FEDERAL NATL MTG ASSN COM 313586109 1,816 28,650 SH SOLE 28,650 FIFTH THIRD BANCORP COM 316773100 822 16,692 SH SOLE 16,692 FIRST DATA CORP COM 319963104 1,124 25,829 SH SOLE 25,829 FISERV INC COM 337738108 202 5,800 SH SOLE 5,800 FIRSTENERGY CORP COM 337932107 403 9,800 SH SOLE 9,800 FORD MTR CO DEL COMPAR 345370860 762 54,215 SH SOLE 54,215 $0.01 FOREST LABS INC COM 345838106 495 11,000 SH SOLE 11,000 FORTUNE BRANDS INC COM 349631101 318 4,286 SH SOLE 4,286 FRANKLIN RES INC COM 354613101 413 7,400 SH SOLE 7,400 GANNETT INC COM 364730101 678 8,100 SH SOLE 8,100 GAP INC DEL COM 364760108 498 26,725 SH SOLE 26,725 GATEWAY INC COM 367626108 54 11,000 SH SOLE 11,000 GENERAL DYNAMICS CORP COM 369550108 602 5,900 SH SOLE 5,900 GENERAL ELEC CO COM 369604103 10,493 312,484 SH SOLE 312,484 GENERAL MLS INC COM 370334104 503 11,200 SH SOLE 11,200 GENERAL MTRS CORP COM 370442105 708 16,674 SH SOLE 16,674 GENUINE PARTS CO COM 372460105 201 5,250 SH SOLE 5,250 GENZYME CORP COMGENL 372917104 365 6,700 SH SOLE 6,700 DIV GEORGIA PAC CORP COM 373298108 270 7,518 SH SOLE 7,518 Page subtotal 28,654 838,705 GILEAD SCIENCES INC COM 375558103 471 12,600 SH SOLE 12,600 GILLETTE CO COM 375766102 1,238 29,650 SH SOLE 29,650 GOLDEN WEST FINL CORP DEL COM 381317106 505 4,550 SH SOLE 4,550 GUIDANT CORP COM 401698105 614 9,300 SH SOLE 9,300 HCA INC COM 404119109 547 14,350 SH SOLE 14,350 HALLIBURTON CO COM 406216101 438 13,000 SH SOLE 13,000 HARLEY DAVIDSON INC COM 412822108 517 8,700 SH SOLE 8,700 HARTFORD FINL SVCS GROUP INC COM 416515104 533 8,600 SH SOLE 8,600 HEINZ H J CO COM 423074103 375 10,400 SH SOLE 10,400 HERSHEY FOODS CORP COM 427866108 360 7,700 SH SOLE 7,700 HEWLETT PACKARD CO COM 428236103 1,693 90,316 SH SOLE 90,316 HILTON HOTELS CORP COM 432848109 215 11,400 SH SOLE 11,400 HOME DEPOT INC COM 437076102 2,577 65,750 SH SOLE 65,750 HONEYWELL INTL INC COM 438516106 909 25,357 SH SOLE 25,357 ITT INDS INC IND COM 450911102 216 2,700 SH SOLE 2,700 ILLINOIS TOOL WKS INC COM 452308109 857 9,200 SH SOLE 9,200 INTERNATIONAL BUSINESS MACHS COM 459200101 4,280 49,918 SH SOLE 49,918 INTERNATIONAL GAME TECHNOLOG COM 459902102 370 10,300 SH SOLE 10,300 INTL PAPER CO COM 460146103 583 14,416 SH SOLE 14,416 INTERPUBLIC GROUP COS INC COM 460690100 131 12,400 SH SOLE 12,400 INTUIT COM 461202103 259 5,700 SH SOLE 5,700 JEFFERSON PILOT CORP COM 475070108 205 4,125 SH SOLE 4,125 JOHNSON & JOHNSON COM 478160104 4,949 87,866 SH SOLE 87,866 JOHNSON CTLS INC COM 478366107 318 5,600 SH SOLE 5,600 KLA-TENCOR CORP COM 482480100 241 5,800 SH SOLE 5,800 KELLOGG CO COM 487836108 520 12,180 SH SOLE 12,180 KERR MCGEE CORP COM 492386107 254 4,428 SH SOLE 4,428 KEYCORP NEW COM 493267108 385 12,184 SH SOLE 12,184 KIMBERLY CLARK CORP COM 494368103 956 14,800 SH SOLE 14,800 KOHLS CORP COM 500255104 487 10,100 SH SOLE 10,100 KROGER CO COM 501044101 341 21,950 SH SOLE 21,950 LSI LOGIC CORP COM 502161102 49 11,300 SH SOLE 11,300 Page subtotal 26,393 1,445,345 LEHMAN BROS HLDGS INC COM 524908100 654 8,200 SH SOLE 8,200 LEXMARK INTL NEW CL A 529771107 319 3,800 SH SOLE 3,800 LILLY ELI & CO COM 532457108 2,009 33,450 SH SOLE 33,450 LIMITED BRANDS INC COM 532716107 312 14,006 SH SOLE 14,006 LINCOLN NATL CORP IND COM 534187109 249 5,300 SH SOLE 5,300 LINEAR TECHNOLOGY CORP COM 535678106 333 9,200 SH SOLE 9,200 LOCKHEED MARTIN CORP COM 539830109 744 13,344 SH SOLE 13,344 LOEWS CORP COM 540424108 322 5,500 SH SOLE 5,500 LOWES COS INC COM 548661107 1,266 23,300 SH SOLE 23,300 LUCENT TECHNOLOGIES INC COM 549463107 402 126,911 SH SOLE 126,911 MARATHON OIL CORP COM 565849106 421 10,200 SH SOLE 10,200 MARSH & MCLENNAN COS INC COM 571748102 707 15,458 SH SOLE 15,458 MARSHALL & ILSLEY CORP COM 571834100 266 6,600 SH SOLE 6,600 MARRIOTT INTL INC NEW CL A 571903202 348 6,700 SH SOLE 6,700 MASCO CORP COM 574599106 449 13,000 SH SOLE 13,000 MATTEL INC COM 577081102 226 12,475 SH SOLE 12,475 MAY DEPT STORES CO COM 577778103 220 8,600 SH SOLE 8,600 MCDONALDS CORP COM 580135101 1,046 37,304 SH SOLE 37,304 MCGRAW HILL COS INC COM 580645109 446 5,600 SH SOLE 5,600 MEDTRONIC INC COM 585055106 1,861 35,862 SH SOLE 35,862 MERCK & CO INC COM 589331107 2,172 65,816 SH SOLE 65,816 MERRILL LYNCH & CO INC COM 590188108 1,418 28,518 SH SOLE 28,518 MICROSOFT CORP COM 594918104 8,838 319,650 SH SOLE 319,650 MICRON TECHNOLOGY INC COM 595112103 218 18,100 SH SOLE 18,100 MOODYS CORP COM 615369105 322 4,400 SH SOLE 4,400 MORGAN STANLEY COM NEW 617446448 1,600 32,456 SH SOLE 32,456 MOTOROLA INC COM 620076109 1,252 69,398 SH SOLE 69,398 NATIONAL CITY CORP COM 635405103 776 20,100 SH SOLE 20,100 NATIONAL SEMICONDUCTOR CORP COM 637640103 164 10,600 SH SOLE 10,600 NEWMONT MINING CORP COM 651639106 595 13,062 SH SOLE 13,062 NIKE INC CL B 654106103 615 7,800 SH SOLE 7,800 NORFOLK SOUTHERN CORP COM 655844108 346 11,650 SH SOLE 11,650 Page subtotal 30,916 2,441,705 NORTH FORK BANCORPORATION NY COM 659424105 229 5,150 SH SOLE 5,150 NORTHERN TR CORP COM 665859104 265 6,500 SH SOLE 6,500 NORTHROP GRUMMAN CORP COM 666807102 563 10,558 SH SOLE 10,558 NOVELL INC COM 670006105 73 11,494 SH SOLE 11,494 NUCOR CORP COM 670346105 210 2,300 SH SOLE 2,300 OCCIDENTAL PETE CORP DEL COM 674599105 649 11,600 SH SOLE 11,600 OMNICOM GROUP INC COM 681919106 409 5,600 SH SOLE 5,600 PNC FINL SVCS GROUP INC COM 693475105 454 8,400 SH SOLE 8,400 PPG INDS INC COM 693506107 311 5,070 SH SOLE 5,070 PACCAR INC COM 693718108 358 5,175 SH SOLE 5,175 PARKER HANNIFIN CORP COM 701094104 203 3,450 SH SOLE 3,450 PAYCHEX INC COM 704326107 337 11,175 SH SOLE 11,175 PENNEY J C INC COM 708160106 297 8,428 SH SOLE 8,428 PEOPLESOFT INC COM 712713106 214 10,800 SH SOLE 10,800 PEPSI BOTTLING GROUP INC COM 713409100 206 7,600 SH SOLE 7,600 PEPSICO INC COM 713448108 2,457 50,500 SH SOLE 50,500 PFIZER INC COM 717081103 6,911 225,864 SH SOLE 225,864 PHELPS DODGE CORP COM 717265102 262 2,843 SH SOLE 2,843 PITNEY BOWES INC COM 724479100 300 6,800 SH SOLE 6,800 PROCTER & GAMBLE CO COM 742718109 4,119 76,100 SH SOLE 76,100 PROGRESS ENERGY INC COM 743263105 309 7,300 SH SOLE 7,300 PROGRESSIVE CORP OHIO COM 743315103 542 6,400 SH SOLE 6,400 PRUDENTIAL FINL INC COM 744320102 735 15,625 SH SOLE 15,625 PUBLIC SVC ENTERPRISE GROUP COM 744573106 298 6,994 SH SOLE 6,994 PULTE HOMES INC COM 745867101 233 3,800 SH SOLE 3,800 QUALCOMM INC COM 747525103 1,874 48,000 SH SOLE 48,000 QWEST COMMUNICATIONS INTL IN COM 749121109 176 52,798 SH SOLE 52,798 RAYTHEON CO COM NEW 755111507 505 13,300 SH SOLE 13,300 REYNOLDS AMERICAN INC COM 761713106 299 4,400 SH SOLE 4,400 ROCKWELL AUTOMATION INC COM 773903109 213 5,500 SH SOLE 5,500 ROHM & HAAS CO COM 775371107 283 6,592 SH SOLE 6,592 SAFEWAY INC COM NEW 786514208 255 13,200 SH SOLE 13,200 ST JUDE MED INC COM 790849103 392 5,212 SH SOLE 5,212 ST PAUL TRAVELERS INC COM 792860108 656 19,840 SH SOLE 19,840 Page subtotal 25,368 684,368 SANMINA SCI CORP COM 800907107 109 15,450 SH SOLE 15,450 SARA LEE CORP COM 803111103 534 23,350 SH SOLE 23,350 SCHERING PLOUGH CORP COM 806605101 832 43,650 SH SOLE 43,650 SCHLUMBERGER LTD COM 806857108 1,171 17,400 SH SOLE 17,400 SCHWAB CHARLES CORP NEW COM 808513105 371 40,400 SH SOLE 40,400 SEARS ROEBUCK & CO COM 812387108 251 6,300 SH SOLE 6,300 SEMPRA ENERGY COM 816851109 245 6,760 SH SOLE 6,760 SIEBEL SYS INC COM 826170102 112 14,900 SH SOLE 14,900 SIMON PPTY GROUP INC NEW COM 828806109 333 6,200 SH SOLE 6,200 SOLECTRON CORP COM 834182107 141 28,500 SH SOLE 28,500 SOUTHERN CO COM 842587107 655 21,850 SH SOLE 21,850 SOUTHTRUST CORP COM 844730101 408 9,800 SH SOLE 9,800 SOUTHWEST AIRLS CO COM 844741108 318 23,375 SH SOLE 23,375 SOVEREIGN BANCORP INC COM 845905108 220 10,100 SH SOLE 10,100 SPRINT CORP COM FON 852061100 849 42,170 SH SOLE 42,170 STAPLES INC COM 855030102 437 14,650 SH SOLE 14,650 STARBUCKS CORP COM 855244109 532 11,700 SH SOLE 11,700 STATE STR CORP COM 857477103 423 9,900 SH SOLE 9,900 STRYKER CORP COM 863667101 567 11,800 SH SOLE 11,800 SUN MICROSYSTEMS INC COM 866810104 398 98,514 SH SOLE 98,514 SUNGARD DATA SYS INC COM 867363103 206 8,650 SH SOLE 8,650 SUNTRUST BKS INC COM 867914103 591 8,400 SH SOLE 8,400 SYMANTEC CORP COM 871503108 505 9,200 SH SOLE 9,200 SYSCO CORP COM 871829107 565 18,900 SH SOLE 18,900 TJX COS INC NEW COM 872540109 324 14,700 SH SOLE 14,700 TXU CORP COM 873168108 431 9,002 SH SOLE 9,002 TELLABS INC COM 879664100 113 12,300 SH SOLE 12,300 TEXAS INSTRS INC COM 882508104 1,092 51,300 SH SOLE 51,300 TEXTRON INC COM 883203101 264 4,100 SH SOLE 4,100 TIME WARNER INC COM 887317105 2,179 134,995 SH SOLE 134,995 TRIBUNE CO NEW COM 896047107 400 9,726 SH SOLE 9,726 TYCO INTL LTD NEW COM 902124106 1,821 59,380 SH SOLE 59,380 US BANCORP DEL COM NEW 902973304 1,623 56,147 SH SOLE 56,147 UNION PAC CORP COM 907818108 451 7,700 SH SOLE 7,700 Page subtotal 19,362 861,269 UNITED PARCEL SERVICE INC CL B 911312106 2,532 33,350 SH SOLE 33,350 UNITED TECHNOLOGIES CORP COM 913017109 1,419 15,200 SH SOLE 15,200 UNIVISION COMMUNICATIONS INC CL A 914906102 303 9,600 SH SOLE 9,600 UNOCAL CORP COM 915289102 338 7,850 SH SOLE 7,850 VERITAS SOFTWARE CO COM 923436109 228 12,815 SH SOLE 12,815 VIACOM INC CL B 925524308 1,723 51,327 SH SOLE 51,327 WACHOVIA CORP 2ND NEW COM 929903102 1,826 38,891 SH SOLE 38,891 WAL MART STORES INC COM 931142103 6,754 126,952 SH SOLE 126,952 WALGREEN CO COM 931422109 1,084 30,250 SH SOLE 30,250 WASHINGTON MUT INC COM 939322103 999 25,573 SH SOLE 25,573 WELLS FARGO & CO NEW COM 949746101 2,980 49,974 SH SOLE 49,974 WEYERHAEUSER CO COM 962166104 473 7,117 SH SOLE 7,117 WILLIAMS COS INC DEL COM 969457100 186 15,400 SH SOLE 15,400 WRIGLEY WM JR CO COM 982526105 424 6,700 SH SOLE 6,700 WYETH COM 983024100 1,478 39,526 SH SOLE 39,526 XILINX INC COM 983919101 278 10,300 SH SOLE 10,300 XEROX CORP COM 984121103 334 23,700 SH SOLE 23,700 YAHOO INC COM 984332106 1,353 39,900 SH SOLE 39,900 YUM BRANDS INC COM 988498101 349 8,584 SH SOLE 8,584 TARGET CORP COM 87612E106 1,224 27,050 SH SOLE 27,050 AES CORP COM 00130H105 189 18,950 SH SOLE 18,950 AT&T WIRELESS SVCS INC COM 00209A106 1,195 80,825 SH SOLE 80,825 ADOBE SYS INC COM 00724F101 351 7,100 SH SOLE 7,100 AETNA INC NEW COM 00817Y108 454 4,539 SH SOLE 4,539 AGILENT TECHNOLOGIES INC COM 00846U101 308 14,278 SH SOLE 14,278 ALTRIA GROUP INC COM 02209S103 2,858 60,749 SH SOLE 60,749 ANTHEM INC COM 03674B104 358 4,100 SH SOLE 4,100 BIOGEN IDEC INC COM 09062X103 616 10,075 SH SOLE 10,075 BURLINGTON NORTHN SANTA FE C COM 12189T104 420 10,967 SH SOLE 10,967 CAPITAL ONE FINL CORP COM 14040H105 525 7,100 SH SOLE 7,100 CARDINAL HEALTH INC COM 14149Y108 554 12,650 SH SOLE 12,650 CISCO SYS INC COM 17275R102 3,624 200,218 SH SOLE 200,218 COMCAST CORP NEW CL A SPL 20030N101 1,875 66,399 SH SOLE 66,399 Page subtotal 39,612 1,078,009 CONOCOPHILLIPS COM 20825C104 1,680 20,282 SH SOLE 20,282 COSTCO WHSL CORP NEW COM 22160K105 565 13,600 SH SOLE 13,600 DELL INC COM 24702R101 2,658 74,650 SH SOLE 74,650 DEVON ENERGY CORP NEW COM 25179M103 504 7,100 SH SOLE 7,100 DOMINION RES INC VA NEW COM 25746U109 632 9,684 SH SOLE 9,684 DYNEGY INC NEW CL A 26816Q101 56 11,250 SH SOLE 11,250 EOG RES INC COM 26875P101 230 3,500 SH SOLE 3,500 EL PASO CORP COM 28336L109 175 19,014 SH SOLE 19,014 ENTERGY CORP NEW COM 29364G103 412 6,800 SH SOLE 6,800 EQUITY RESIDENTIAL SH BEN 29476L107 259 8,350 SH SOLE 8,350 INT EXELON CORP COM 30161N101 719 19,600 SH SOLE 19,600 EXXON MOBIL CORP COM 30231G102 9,363 193,725 SH SOLE 193,725 FEDERATED DEPT STORES INC DE COM 31410H101 239 5,259 SH SOLE 5,259 FEDEX CORP COM 31428X106 754 8,800 SH SOLE 8,800 FREEPORT-MCMORAN COPPER & GO CL B 35671D857 209 5,161 SH SOLE 5,161 GOLDMAN SACHS GROUP INC COM 38141G104 1,333 14,300 SH SOLE 14,300 JDS UNIPHASE CORP COM 46612J101 144 42,600 SH SOLE 42,600 JPMORGAN CHASE & CO COM 46625H100 4,193 105,544 SH SOLE 105,544 KINDER MORGAN INC KANS COM 49455P101 232 3,700 SH SOLE 3,700 M & T BK CORP COM 55261F104 335 3,500 SH SOLE 3,500 MBIA INC COM 55262C100 250 4,300 SH SOLE 4,300 MBNA CORP COM 55262L100 952 37,780 SH SOLE 37,780 MAXIM INTEGRATED PRODS INC COM 57772K101 402 9,500 SH SOLE 9,500 MCKESSON CORP COM 58155Q103 223 8,713 SH SOLE 8,713 MEDCO HEALTH SOLUTIONS INC COM 58405U102 248 8,030 SH SOLE 8,030 MELLON FINL CORP COM 58551A108 348 12,550 SH SOLE 12,550 METLIFE INC COM 59156R108 866 22,400 SH SOLE 22,400 MONSANTO CO NEW COM 61166W101 289 7,933 SH SOLE 7,933 NETWORK APPLIANCE INC COM 64120L104 237 10,300 SH SOLE 10,300 NEXTEL COMMUNICATIONS INC CL A 65332V103 784 32,900 SH SOLE 32,900 ORACLE CORP COM 68389X105 1,735 153,834 SH SOLE 153,834 PG&E CORP COM 69331C108 377 12,396 SH SOLE 12,396 Page subtotal 31,403 1,975,064 PPL CORP COM 69351T106 250 5,300 SH SOLE 5,300 PRAXAIR INC COM 74005P104 409 9,562 SH SOLE 9,562 PRINCIPAL FINANCIAL GROUP IN COM 74251V102 342 9,500 SH SOLE 9,500 QUEST DIAGNOSTICS INC COM 74834L100 273 3,100 SH SOLE 3,100 REGIONS FINANCIAL CORP NEW COM 7591EP100 455 13,748 SH SOLE 13,748 SBC COMMUNICATIONS INC COM 78387G103 2,547 98,144 SH SOLE 98,144 SLM CORP COM 78442P106 580 13,000 SH SOLE 13,000 STARWOOD HOTELS&RESORTS WRLD COM 85590A203 283 6,100 SH SOLE 6,100 SYNOVUS FINL CORP COM 87161C105 237 9,050 SH SOLE 9,050 TENET HEALTHCARE CORP COM 88033G100 149 13,774 SH SOLE 13,774 3M CO COM 88579Y101 1,855 23,200 SH SOLE 23,200 UNITEDHEALTH GROUP INC COM 91324P102 1,457 19,752 SH SOLE 19,752 VALERO ENERGY CORP NEW COM 91913Y100 305 3,800 SH SOLE 3,800 VERIZON COMMUNICATIONS COM 92343V104 3,229 81,998 SH SOLE 81,998 WASTE MGMT INC DEL COM 94106L109 469 17,163 SH SOLE 17,163 WELLPOINT HEALTH NETWORK NEW COM 94973H108 483 4,600 SH SOLE 4,600 XCEL ENERGY INC COM 98389B100 205 11,835 SH SOLE 11,835 ZIMMER HLDGS INC COM 98956P102 568 7,189 SH SOLE 7,189 ACE LTD ORD G0070K103 337 8,400 SH SOLE 8,400 INGERSOLL-RAND COMPANY LTD CL A G4776G101 347 5,100 SH SOLE 5,100 NABORS INDUSTRIES LTD SHS G6359F103 208 4,400 SH SOLE 4,400 TRANSOCEAN INC ORD G90078109 340 9,504 SH SOLE 9,504 XL CAP LTD CL A G98255105 303 4,100 SH SOLE 4,100 Page subtotal 15,631 382,319 FAIR 9,562 281,219 MARKET VALUE TOTAL