 |
Annual Report 1997 |
|
SCHEDULE OF INVESTMENTS (continued)
December 31, 1997 |
|
|
|
|
Prin. Amt.
or Shares |
|
Value (A) |
| Transportation
— 3.8% |
|
|
|
|
| |
Delta Air Lines, Inc. |
|
150,071 |
$ |
17,858,449 |
| |
Federal Express Corp. (C) |
|
260,000 |
|
15,876,250 |
| |
Illinois Central Corp. |
|
210,000 |
|
7,153,125 |
| |
Ryder System, Inc. |
|
400,000 |
|
13,100,000 |
| |
|
|
|
|
|
| |
|
|
|
|
53,987,824 |
|
| Utilities
— 12.1% |
|
|
|
|
| Electric
and Gas Utilities — 5.7% |
|
|
|
|
| |
Black Hills Corp. |
|
370,000 |
|
13,042,500 |
| |
CINergy Corp. |
|
300,000 |
|
11,493,750 |
| |
Empresa Nacional de Electricidad,
S.A. ADR
|
|
450,000 |
|
8,184,375 |
| |
LG&E Energy Corp. |
|
400,000 |
|
9,925,000 |
| |
New Century Energy |
|
250,000 |
|
11,984,375 |
| |
TECO Energy, Inc. |
|
300,000 |
|
8,437,500 |
| |
United Water Resources Inc. |
|
500,000 |
|
9,781,250 |
| |
Washington Gas Light Co. |
|
257,000 |
|
7,950,938 |
| |
|
|
|
|
|
| |
|
|
|
|
80,799,688 |
|
| Telephone
Utilities — 6.4% |
|
|
|
|
| |
AirTouch Communications (C) |
|
200,000 |
|
8,312,500 |
| |
Ameritech Corp. |
|
155,000 |
|
12,477,500 |
| |
BellSouth Corp. |
|
220,000 |
|
12,388,750 |
| |
GTE Corp. |
|
250,000 |
|
13,062,500 |
| |
LCI International, Inc. (C) |
|
460,000 |
|
14,145,000 |
| |
NEXTEL Communications, Inc. (C) |
|
120,000 |
|
3,120,000† |
| |
SBC Communications Inc. |
|
200,000 |
|
14,650,000 |
| |
Worldcom, Inc. (C) |
|
420,000 |
|
12,705,000† |
| |
|
|
|
|
|
| |
|
|
|
|
90,861,250 |
|
| Other
— 0.3% |
|
|
|
|
| |
Stocks under accumulation |
|
|
|
4,061,344 |
|
Total
Stocks and Convertible Securities
(Cost $730,237,973)(E) |
|
|
|
1,395,708,412 |
| |
|
|
|
|
|
|
|
