|
PORTFOLIO REVIEW
| Ten Largest Portfolio
Holdings (12/31/97) |
|
|
Market Value |
 |
% of Net Assets |
| Royal Dutch Petroleum Co. |
|
$ 47,034,751 |
|
8.5 |
| Exxon Corp. |
|
20,191,875 |
|
3.6 |
| Mobil Corp. |
|
17,325,000 |
|
3.1 |
| General Electric Co. |
|
14,675,000 |
|
2.6 |
| Enron Corp. $12.97 Conv. Pfd. Ser. J |
|
14,183,202 |
|
2.6 |
| British Petroleum plc ADR |
|
14,177,681 |
|
2.5 |
| Schlumberger Ltd. |
|
13,862,100 |
|
2.5 |
| Transocean Offshore Inc. |
|
11,083,125 |
|
2.0 |
"Shell" Transport and Trading Co.
 plc ADR |
|
10,500,000 |
|
1.9 |
| Texaco, Inc. |
|
10,155,891 |
|
1.8 |
|
|
|
|
TOTAL
|
|
$173,188,625 |
|
31.1% |
|
| Sector Weightings (12/31/97) |
|
