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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: Hennessy Advisors, Inc.
Address: The Courtyard Square
750 Grant Avenue
Suite 100
Novato, CA 94945
Form 13F File Number: 028-06715
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: Teresa M. Nilsen
Title: Executive Vice President and Chief Financial Officer
Phone: (415) 899-1555
Signature, Place, and Date of Signing:
/s/ Teresa M. Nilsen Novato, CA 10/10/03
-----------------------------------------------------------------------------
Teresa M. Nilsen 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).)
Form 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers: 0
---------------------
Form 13F Information Table Entry Total: 135
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Form 13F Information Table Value Total: $ 817,469
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(thousands)
List of Other Included Managers: NONE
Provide a numbered list of the name(s) and Form 13F file numbers(s) of all
institutional investment managers with respect to which this report is filed,
other than the manager filing this report.
Page 1 of 6
FORM 13F INFORMATION TABLE
Name of Reporting Manager: Hennessy Funds
Column 1: Column 2: Column 3: Column 4: Column 5: Column 6: Column 7: Column 8:
Name of Issuer Title CUSIP Market Value Shares or Principal Investment Other Voting
of Class Number (x $1,000) Amount Discretion Managers Authority
------------------------------------------------------------------------------------------------------------------------------------
SH/ Put/ Sole Shared- Shared- Sole Shared None
PRN Call Defined Other
------------------------------------------------------------------------------------------------------------------------------------
NAM TAI ELECTRONICS ADR 629865205 29,618 1,091,700 SH SOLE 1,091,700
------------------------------------------------------------------------------------------------------------------------------------
AVID TECHNOLOGY INC COM 05367P100 27,120 511,700 SH SOLE 511,700
------------------------------------------------------------------------------------------------------------------------------------
SELECT COMFORT CORP COM 81616X103 26,407 995,000 SH SOLE 995,000
------------------------------------------------------------------------------------------------------------------------------------
FLAGSTAR BANCORP INC COM 337930101 23,267 1,013,800 SH SOLE 1,013,800
------------------------------------------------------------------------------------------------------------------------------------
HUNT (JB) TRANSPRT SVCS INC COM 445658107 21,426 818,100 SH SOLE 818,100
------------------------------------------------------------------------------------------------------------------------------------
PACIFICARE HEALTH SYS COM 695112102 20,496 420,000 SH SOLE 420,000
------------------------------------------------------------------------------------------------------------------------------------
WESTERN DIGITAL CORP COM 958102105 20,193 1,566,600 SH SOLE 1,566,600
------------------------------------------------------------------------------------------------------------------------------------
HARMAN INTERNATIONAL INDS COM 413086109 19,060 193,800 SH SOLE 193,800
------------------------------------------------------------------------------------------------------------------------------------
ENGINEERED SUPPORT SYSTEMS COM 292866100 18,892 312,000 SH SOLE 312,000
------------------------------------------------------------------------------------------------------------------------------------
CHICAGO BRIDGE & IRON CO ADR 167250109 18,634 686,100 SH SOLE 686,100
------------------------------------------------------------------------------------------------------------------------------------
TRACTOR SUPPLY CO COM 892356106 18,357 559,500 SH SOLE 559,500
------------------------------------------------------------------------------------------------------------------------------------
PACIFIC SUNWEAR CALIF INC COM 694873100 17,992 870,850 SH SOLE 870,850
------------------------------------------------------------------------------------------------------------------------------------
RENT-A-CENTER INC COM 76009N100 16,569 514,250 SH SOLE 514,250
------------------------------------------------------------------------------------------------------------------------------------
OLD DOMINION FREIGHT COM 679580100 16,386 557,900 SH SOLE 557,900
------------------------------------------------------------------------------------------------------------------------------------
JARDEN CORP COM 471109108 16,229 429,900 SH SOLE 429,900
------------------------------------------------------------------------------------------------------------------------------------
AETNA INC COM 00817Y108 15,929 261,000 SH SOLE 261,000
------------------------------------------------------------------------------------------------------------------------------------
TORO CO COM 891092108 15,701 348,900 SH SOLE 348,900
------------------------------------------------------------------------------------------------------------------------------------
NVR INC COM 62944T105 15,161 32,500 SH SOLE 32,500
------------------------------------------------------------------------------------------------------------------------------------
BENCHMARK ELECTRONICS INC COM 08160H101 14,465 342,200 SH SOLE 342,200
------------------------------------------------------------------------------------------------------------------------------------
EGL INC COM 268484102 14,346 788,700 SH SOLE 788,700
------------------------------------------------------------------------------------------------------------------------------------
CENTRAL GARDEN & PET CO COM 153527106 14,236 546,500 SH SOLE 546,500
------------------------------------------------------------------------------------------------------------------------------------
LANDAMERICA FINANCIAL GP COM 514936103 13,990 305,200 SH SOLE 305,200
------------------------------------------------------------------------------------------------------------------------------------
AMERICAN GREETINGS -CL A COM 026375105 13,922 716,500 SH SOLE 716,500
------------------------------------------------------------------------------------------------------------------------------------
Page 2 of 6
Name of Reporting Manager: Hennessy Funds
Column 1: Column 2: Column 3: Column 4: Column 5: Column 6: Column 7: Column 8:
Name of Issuer Title CUSIP Market Value Shares or Principal Investment Other Voting
of Class Number (x $1,000) Amount Discretion Managers Authority
------------------------------------------------------------------------------------------------------------------------------------
SH/ Put/ Sole Shared- Shared- Sole Shared None
PRN Call Defined Other
------------------------------------------------------------------------------------------------------------------------------------
NBTY INC COM 628782104 13,641 584,200 SH SOLE 584,200
------------------------------------------------------------------------------------------------------------------------------------
FOSSIL INC COM 349882100 13,615 560,300 SH SOLE 560,300
------------------------------------------------------------------------------------------------------------------------------------
ROCKWELL AUTOMATION COM 773903109 13,523 515,172 SH SOLE 514,900 272
------------------------------------------------------------------------------------------------------------------------------------
JACOBS ENGINEERING GROUP INC COM 469814107 13,205 292,800 SH SOLE 292,800
------------------------------------------------------------------------------------------------------------------------------------
UGI CORP COM 902681105 13,081 452,150 SH SOLE 443,750 8,400
------------------------------------------------------------------------------------------------------------------------------------
QUIKSILVER INC COM 74838C106 13,023 816,500 SH SOLE 816,500
------------------------------------------------------------------------------------------------------------------------------------
CLARCOR INC COM 179895107 12,542 321,600 SH SOLE 321,600
------------------------------------------------------------------------------------------------------------------------------------
FIDELITY NATIONAL FINL INC COM 316326107 12,304 409,300 SH SOLE 409,300
------------------------------------------------------------------------------------------------------------------------------------
AMETEK INC COM 031100100 12,249 285,800 SH SOLE 285,800
------------------------------------------------------------------------------------------------------------------------------------
WHOLE FOODS MARKET INC COM 966837106 12,227 221,500 SH SOLE 221,500
------------------------------------------------------------------------------------------------------------------------------------
FIRST AMERICAN CORP/CA COM 318522307 12,079 485,100 SH SOLE 485,100
------------------------------------------------------------------------------------------------------------------------------------
DOLLAR THRIFTY AUTOMOTIVE GP COM 256743105 12,019 529,000 SH SOLE 529,000
------------------------------------------------------------------------------------------------------------------------------------
LANDSTAR SYSTEM INC COM 515098101 11,914 194,000 SH SOLE 194,000
------------------------------------------------------------------------------------------------------------------------------------
CARLISLE COS INC COM 142339100 11,882 272,400 SH SOLE 272,400
------------------------------------------------------------------------------------------------------------------------------------
BUNGE LTD COM sedol-2788713 11,773 428,100 SH SOLE 428,100
------------------------------------------------------------------------------------------------------------------------------------
BALL CORP COM 058498106 11,740 217,400 SH SOLE 217,400
------------------------------------------------------------------------------------------------------------------------------------
HENNESSY ADVISORS INC COM 425885100 11,634 894,932 SH SOLE -
------------------------------------------------------------------------------------------------------------------------------------
VARCO INTERNATIONAL INC COM 922122106 11,203 662,500 SH SOLE 662,500
------------------------------------------------------------------------------------------------------------------------------------
SAKS INC COM 79377W108 11,176 969,300 SH SOLE 969,300
------------------------------------------------------------------------------------------------------------------------------------
ROSS STORES INC COM 778296103 11,152 240,400 SH SOLE 240,400
------------------------------------------------------------------------------------------------------------------------------------
ROLLINS INC COM 775711104 10,760 603,150 SH SOLE 603,150
------------------------------------------------------------------------------------------------------------------------------------
ALBEMARLE CORP COM 012653101 10,631 387,300 SH SOLE 387,300
------------------------------------------------------------------------------------------------------------------------------------
PACTIV CORP COM 695257105 10,215 503,700 SH SOLE 503,700
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Page 3 of 6
Name of Reporting Manager: Hennessy Funds
Column 1: Column 2: Column 3: Column 4: Column 5: Column 6: Column 7: Column 8:
Name of Issuer Title CUSIP Market Value Shares or Principal Investment Other Voting
of Class Number (x $1,000) Amount Discretion Managers Authority
------------------------------------------------------------------------------------------------------------------------------------
SH/ Put/ Sole Shared- Shared- Sole Shared None
PRN Call Defined Other
------------------------------------------------------------------------------------------------------------------------------------
SENSIENT TECHNOLOGIES CORP COM 81725T100 9,885 470,700 SH SOLE 470,700
------------------------------------------------------------------------------------------------------------------------------------
COORS (ADOLPH) -CL B COM 217016104 9,532 177,300 SH SOLE 177,300
------------------------------------------------------------------------------------------------------------------------------------
IMATION CORP COM 45245A107 9,292 284,600 SH SOLE 284,600
------------------------------------------------------------------------------------------------------------------------------------
TIMKEN CO COM 887389104 8,515 558,700 SH SOLE 558,700
------------------------------------------------------------------------------------------------------------------------------------
COCA-COLA BTLNG CONS COM 191098102 8,151 162,800 SH SOLE 162,800
------------------------------------------------------------------------------------------------------------------------------------
J P MORGAN CHASE & CO COM 46625H100 2,234 65,070 SH SOLE 62,450 2,620
------------------------------------------------------------------------------------------------------------------------------------
GENERAL MOTORS CORP COM 370442105 1,900 46,428 SH SOLE 44,425 2,003
------------------------------------------------------------------------------------------------------------------------------------
SBC COMMUNICATIONS INC COM 78387G103 1,900 85,386 SH SOLE 65,675 19,711
------------------------------------------------------------------------------------------------------------------------------------
Altria Group Inc COM 02209S103 1,888 43,103 SH SOLE 41,175 1,928
------------------------------------------------------------------------------------------------------------------------------------
DU PONT (E I) DE NEMOURS COM 263534109 1,620 40,485 SH SOLE 38,725 1,760
------------------------------------------------------------------------------------------------------------------------------------
EMERSON ELECTRIC CO COM 291011104 1,586 30,120 SH SOLE 7,000 23,120
------------------------------------------------------------------------------------------------------------------------------------
HONEYWELL INTERNATIONAL INC COM 438516106 1,523 57,802 SH SOLE 55,775 2,027
------------------------------------------------------------------------------------------------------------------------------------
CATERPILLAR INC COM 149123101 1,440 20,919 SH SOLE 20,250 669
------------------------------------------------------------------------------------------------------------------------------------
BANK of AMERICA CORP COM 060505104 1,312 16,812 SH SOLE 5,300 11,512
------------------------------------------------------------------------------------------------------------------------------------
A T & T CORP COM 001957505 1,154 53,528 SH SOLE 48,550 4,978
------------------------------------------------------------------------------------------------------------------------------------
AVAYA INC COM 053499109 1,136 104,252 SH SOLE 103,800 452
------------------------------------------------------------------------------------------------------------------------------------
PROVIDIAN FINANCIAL CORP COM 74406A102 1,133 96,100 SH SOLE 96,100
------------------------------------------------------------------------------------------------------------------------------------
EASTMAN KODAK CO COM 277461109 1,122 53,575 SH SOLE 50,900 2,675
------------------------------------------------------------------------------------------------------------------------------------
HASBRO INC COM 418056107 1,104 59,100 SH SOLE 59,100
------------------------------------------------------------------------------------------------------------------------------------
GEORGIA-PACIFIC CORP COM 373298108 1,098 45,300 SH SOLE 45,300
------------------------------------------------------------------------------------------------------------------------------------
FREDS INC COM 356108100 1,098 33,300 SH SOLE 33,300
------------------------------------------------------------------------------------------------------------------------------------
CHEVRONTEXACO CORP COM 166764100 1,089 15,247 SH SOLE 5,300 9,947
------------------------------------------------------------------------------------------------------------------------------------
PRECISION CASTPARTS CORP COM 740189105 1,088 31,000 SH SOLE 31,000
------------------------------------------------------------------------------------------------------------------------------------
Page 4 of 6
Name of Reporting Manager: Hennessy Funds
Column 1: Column 2: Column 3: Column 4: Column 5: Column 6: Column 7: Column 8:
Name of Issuer Title CUSIP Market Value Shares or Principal Investment Other Voting
of Class Number (x $1,000) Amount Discretion Managers Authority
------------------------------------------------------------------------------------------------------------------------------------
SH/ Put/ Sole Shared- Shared- Sole Shared None
PRN Call Defined Other
------------------------------------------------------------------------------------------------------------------------------------
RITE AID CORP COM 767754104 1,086 210,500 SH SOLE 210,500
------------------------------------------------------------------------------------------------------------------------------------
MENS WEARHOUSE INC COM 587118100 1,082 42,200 SH SOLE 42,200
------------------------------------------------------------------------------------------------------------------------------------
SPRINT PCS GROUP COM 852061506 1,076 187,800 SH SOLE 185,300 2,500
------------------------------------------------------------------------------------------------------------------------------------
TRINITY INDUSTRIES COM 896522109 1,075 41,600 SH SOLE 41,600
------------------------------------------------------------------------------------------------------------------------------------
LOUISIANA-PACIFIC CORP COM 546347105 1,065 77,300 SH SOLE 77,300
------------------------------------------------------------------------------------------------------------------------------------
MAXTOR CORP COM 577729205 1,059 87,000 SH SOLE 87,000
------------------------------------------------------------------------------------------------------------------------------------
CONTINENTAL AIRLS INC -CL B COM 210795308 1,053 63,500 SH SOLE 63,500
------------------------------------------------------------------------------------------------------------------------------------
CUMMINS INC COM 231021106 1,049 23,600 SH SOLE 23,600
------------------------------------------------------------------------------------------------------------------------------------
ALLIED WASTE INDS INC COM 019589308 1,043 96,600 SH SOLE 96,600
------------------------------------------------------------------------------------------------------------------------------------
SELECT MEDICAL CORP COM 816196109 1,043 36,200 SH SOLE 36,200
------------------------------------------------------------------------------------------------------------------------------------
AVNET INC COM 053807103 1,042 63,100 SH SOLE 63,100
------------------------------------------------------------------------------------------------------------------------------------
WESTERN WIRELESS CORP -CL A COM 95988E204 1,042 55,800 SH SOLE 55,800
------------------------------------------------------------------------------------------------------------------------------------
PACCAR INC COM 693718108 1,041 14,000 SH SOLE 14,000
------------------------------------------------------------------------------------------------------------------------------------
PERKINELMER INC COM 714046109 1,033 67,500 SH SOLE 67,500
------------------------------------------------------------------------------------------------------------------------------------
CARMAX INC COM 143130102 1,032 31,600 SH SOLE 31,600
------------------------------------------------------------------------------------------------------------------------------------
STORAGE TECHNOLOGY CP COM 862111200 1,028 42,600 SH SOLE 42,600
------------------------------------------------------------------------------------------------------------------------------------
JABIL CIRCUIT INC COM 466313103 1,026 39,400 SH SOLE 39,400
------------------------------------------------------------------------------------------------------------------------------------
GATEWAY INC COM 367626108 1,026 181,300 SH SOLE 181,100 200
------------------------------------------------------------------------------------------------------------------------------------
GENERAL ELECTRIC CO. COM 369604103 1,004 33,667 SH SOLE 24,050 9,617
------------------------------------------------------------------------------------------------------------------------------------
WELLS FARGO & CO NEW COM 949746101 963 18,690 SH SOLE -
------------------------------------------------------------------------------------------------------------------------------------
EXXON MOBIL CORPORATION COM 30231G102 894 24,419 SH SOLE 16,350 8,069
------------------------------------------------------------------------------------------------------------------------------------
VERIZON COMMUNICATIONS COM 92343V104 870 26,813 SH SOLE 9,400 17,413
------------------------------------------------------------------------------------------------------------------------------------
BP PLC -ADS ADR 055622104 756 17,968 SH SOLE 9,200 8,768
------------------------------------------------------------------------------------------------------------------------------------
Page 5 of 6
Name of Reporting Manager: Hennessy Funds
Column 1: Column 2: Column 3: Column 4: Column 5: Column 6: Column 7: Column 8:
Name of Issuer Title CUSIP Market Value Shares or Principal Investment Other Voting
of Class Number (x $1,000) Amount Discretion Managers Authority
------------------------------------------------------------------------------------------------------------------------------------
SH/ Put/ Sole Shared- Shared- Sole Shared None
PRN Call Defined Other
------------------------------------------------------------------------------------------------------------------------------------
INTERNATIONAL PAPER CO COM 460146103 735 18,825 SH SOLE 17,550 1,275
------------------------------------------------------------------------------------------------------------------------------------
SEARS ROEBUCK & CO COM 812387108 608 13,900 SH SOLE 13,900
------------------------------------------------------------------------------------------------------------------------------------
WESTAMERICA BANCORP COM 957090103 560 12,596 SH SOLE -
------------------------------------------------------------------------------------------------------------------------------------
MARATHON OIL CORP COM 565849106 485 17,000 SH SOLE 17,000
------------------------------------------------------------------------------------------------------------------------------------
OCCIDENTAL PETROLEUM CORP COM 674599105 462 13,100 SH SOLE 12,900 200
------------------------------------------------------------------------------------------------------------------------------------
SPRINT FON GROUP COM 852061100 450 29,807 SH SOLE 24,800 5,007
------------------------------------------------------------------------------------------------------------------------------------
WEYERHAEUSER CO COM 962166104 450 7,700 SH SOLE 7,700
------------------------------------------------------------------------------------------------------------------------------------
ELECTRONIC DATA SYSTEMS CORP COM 285661104 444 22,000 SH SOLE 22,000
------------------------------------------------------------------------------------------------------------------------------------
AEGON NV ADR 007924103 443 37,861 SH SOLE 27,476 10,385
------------------------------------------------------------------------------------------------------------------------------------
DOW CHEMICAL COM 260543103 439 13,500 SH SOLE 12,300 1,200
------------------------------------------------------------------------------------------------------------------------------------
FLEETBOSTON FINANCIAL CORP COM 339030108 437 14,500 SH SOLE 14,500
------------------------------------------------------------------------------------------------------------------------------------
HSBC HLDGS PLC -SPON ADR ADR 404280406 435 6,585 SH SOLE 6,585
------------------------------------------------------------------------------------------------------------------------------------
BCE INC ADR 05534B109 430 19,700 SH SOLE 19,700
------------------------------------------------------------------------------------------------------------------------------------
CEMEX S A -ADR ADR 151290889 423 16,935 SH SOLE 16,935
------------------------------------------------------------------------------------------------------------------------------------
PNC FINANCIAL SVCS GROUP INC COM 693475105 419 8,800 SH SOLE 8,800
------------------------------------------------------------------------------------------------------------------------------------
GLAXOSMITHKLINE PLC -SP ADR ADR 37733W105 416 9,800 SH SOLE 9,800
------------------------------------------------------------------------------------------------------------------------------------
FORD MOTOR CO COM 345370860 415 38,546 SH SOLE 37,900 646
------------------------------------------------------------------------------------------------------------------------------------
U S BANCORP COM 902973304 412 17,175 SH SOLE 17,100 75
------------------------------------------------------------------------------------------------------------------------------------
WASHINGTON MUTUAL INC COM 939322103 411 10,450 SH SOLE 10,000 450
------------------------------------------------------------------------------------------------------------------------------------
PITNEY BOWES INC COM 724479100 410 10,700 SH SOLE 10,700
------------------------------------------------------------------------------------------------------------------------------------
ROYAL DUTCH PETROLEUM -ADR ADR 780257804 410 9,272 SH SOLE 8,500 772
------------------------------------------------------------------------------------------------------------------------------------
AMSOUTH BANCORPORATION COM 032165102 407 19,200 SH SOLE 19,200
------------------------------------------------------------------------------------------------------------------------------------
MEADWESTVACO CORP COM 583334107 405 15,900 SH SOLE 15,900
------------------------------------------------------------------------------------------------------------------------------------
Page 6 of 6
Name of Reporting Manager: Hennessy Funds
Column 1: Column 2: Column 3: Column 4: Column 5: Column 6: Column 7: Column 8:
Name of Issuer Title CUSIP Market Value Shares or Principal Investment Other Voting
of Class Number (x $1,000) Amount Discretion Managers Authority
------------------------------------------------------------------------------------------------------------------------------------
SH/ Put/ Sole Shared- Shared- Sole Shared None
PRN Call Defined Other
------------------------------------------------------------------------------------------------------------------------------------
UNION PLANTERS CORP COM 908068109 405 12,800 SH SOLE 12,800
------------------------------------------------------------------------------------------------------------------------------------
DELPHI CORP COM 247126105 403 44,566 SH SOLE 43,800 766
------------------------------------------------------------------------------------------------------------------------------------
AON CORP COM 037389103 402 19,300 SH SOLE 19,300
------------------------------------------------------------------------------------------------------------------------------------
CONOCOPHILLIPS COM 20825C104 394 7,200 SH SOLE 7,200
------------------------------------------------------------------------------------------------------------------------------------
NATIONAL CITY CORP COM 635405103 392 13,300 SH SOLE 13,300
------------------------------------------------------------------------------------------------------------------------------------
MAY DEPARTMENT STORES CO COM 577778103 379 15,400 SH SOLE 15,400
------------------------------------------------------------------------------------------------------------------------------------
REGIONS FINL CORP COM 758940100 370 10,800 SH SOLE 10,800
------------------------------------------------------------------------------------------------------------------------------------
KELLOGG CO COM 487836108 364 10,900 SH SOLE 10,900
------------------------------------------------------------------------------------------------------------------------------------
SHELL TRAN&TRADE -ADR ADR 822703609 362 9,600 SH SOLE 9,600
------------------------------------------------------------------------------------------------------------------------------------
HEINZ (H J) CO COM 423074103 357 10,400 SH SOLE 10,400
------------------------------------------------------------------------------------------------------------------------------------
BRISTOL MYERS SQUIBB COM 110122108 354 13,800 SH SOLE 13,000 800
------------------------------------------------------------------------------------------------------------------------------------
BB&T CORP COM 054937107 345 9,600 SH SOLE 9,600
------------------------------------------------------------------------------------------------------------------------------------
ALCOA INC COM 013817101 336 12,825 SH SOLE 11,150 1,675
------------------------------------------------------------------------------------------------------------------------------------
ALBERTSONS INC COM 013104104 335 16,300 SH SOLE 16,300
------------------------------------------------------------------------------------------------------------------------------------
UNUMPROVIDENT CORP COM 91529Y106 319 21,600 SH SOLE 21,600
------------------------------------------------------------------------------------------------------------------------------------
CONAGRA FOODS INC COM 205887102 316 14,900 SH SOLE 14,900
------------------------------------------------------------------------------------------------------------------------------------
MERCK & CO., INC. COM 589331107 298 5,893 SH SOLE 5,525 368
------------------------------------------------------------------------------------------------------------------------------------
CITIGROUP INC COM 172967101 279 6,277 SH SOLE 6,125 152
------------------------------------------------------------------------------------------------------------------------------------
BELLSOUTH CORPORATION COM 079860102 218 9,200 SH SOLE -
------------------------------------------------------------------------------------------------------------------------------------
CHARLES SCHWAB CORP COM 808513105 162 13,617 SH SOLE -
------------------------------------------------------------------------------------------------------------------------------------
TOTAL 817,469
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