 |
Annual Report 1997 |
|
SCHEDULE OF INVESTMENTS (continued)
December 31, 1997 |
|
|
|
|
Prin. Amt.
or Shares |
|
Value (A) |
| Health
Care — 12.2% |
|
|
|
|
| Drugs
— 7.1% |
|
|
|
|
| |
Alza Corp. (C) |
|
500,000 |
$ |
15,906,250 |
| |
Elan Corp., plc ADR (C) |
|
460,000 |
|
23,546,250 |
| |
Forest Laboratories, Inc. (C) |
|
165,000 |
|
8,136,562 |
| |
Lilly (Eli) & Co. |
|
300,000 |
|
20,887,500 |
| |
Merck & Co., Inc. |
|
140,000 |
|
14,840,000 |
| |
SmithKline Beecham plc ADR |
|
360,000 |
|
18,517,500 |
| |
|
|
|
|
|
| |
|
|
|
|
101,834,062 |
|
| Medical
Supplies and Services — 5.1% |
|
|
|
|
| |
Abbott Laboratories |
|
240,000 |
|
15,720,000 |
| |
American Retirement Corp. 5.75% Conv.
Sub. Debs
due 2002 |
|
$ 4,000,000 |
|
4,100,000 |
| |
American Retirement Corp. (C) |
|
151,100 |
|
3,022,000 |
| |
Beckman Instruments, Inc. |
|
80,000 |
|
3,200,000 |
| |
Integrated Health Services, Inc.
5.75%
Conv. Sub. Debs. due 2001 |
|
$ 6,675,000 |
|
7,075,500 |
| |
Integrated Health Services, Inc. 6%
Conv.
Sub. Debs. due 2003 |
|
$ 500,000 |
|
530,000 |
| |
Integrated Health Services, Inc. |
|
165,000 |
|
5,145,937 |
| |
Life Technologies, Inc. |
|
307,500 |
|
10,224,375† |
| |
MedPartners 6.50% TAPS due 2000 |
|
100,000 |
|
2,206,250 |
| |
MedPartners Inc. (C) |
|
273,000 |
|
6,108,375 |
| |
ONCOR, Inc. (C) |
|
900,000 |
|
4,162,500 |
| |
Sunrise Assisted Living, Inc. |
|
250,000 |
|
10,781,250 |
| |
|
|
|
|
|
| |
|
|
|
|
72,276,187 |
|
| Technology
— 14.9% |
|
|
|
|
| Communication
Equipment — 4.1% |
|
|
|
|
| |
Ericsson (L.M.) Telephone Co.
4.25%
Conv. Sub. Debs. due 2000 |
|
$120,000 |
|
630,000† |
| |
Ericsson (L.M.) Telephone Co. ADR |
|
440,000 |
|
16,417,500† |
| |
Lucent Technologies Inc. |
|
64,816 |
|
5,177,178 |
| |
Motorola, Inc. LYONs due 2009 |
|
$650,000 |
|
679,250 |
| |
Motorola, Inc. |
|
150,000 |
|
8,578,125 |
| |
Nokia Corp. Pfd. ADR |
|
150,000 |
|
10,425,000 |
| |
Northern Telecom Ltd. |
|
190,000 |
|
16,862,500 |
| |
|
|
|
|
|
| |
|
|
|
|
58,769,553 |
|
| Computer
Related — 8.2% |
|
|
|
|
| |
Cisco Systems, Inc. (C) |
|
322,500 |
|
17,979,375† |
| |
Computer Sciences Corp. (C) |
|
136,000 |
|
11,356,000 |
| |
DST Systems Inc. (C) |
|
400,000 |
|
17,075,000 |
| |
First Data Corp. |
|
343,980 |
|
10,061,415 |
| |
Hewlett-Packard Co. |
|
380,000 |
|
23,702,500 |
| |
QuickResponse Services, Inc. (C) |
|
350,000 |
|
12,950,000† |
| |
Sabre Group Holdings, Inc. (C) |
|
300,000 |
|
8,662,500 |
| |
Sterling Commerce, Inc. (C) |
|
400,000 |
|
15,375,000 |
| |
|
|
|
|
|
| |
|
|
|
|
117,161,790 |
|
| Electronics
— 2.6% |
|
|
|
|
| |
Intel Corp. |
|
170,000 |
|
11,942,500† |
| |
Solectron Corp. (C) |
|
600,000 |
|
24,937,500 |
| |
|
|
|
|
|
| |
|
|
|
|
36,880,000 |
|
|
