13F-HR 1 w01505e13fvhr.txt FORM 13F-HR GARTMORE GLOBAL ASSET MANAGEMENT LTD UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 13F Form 13F COVER PAGE Report for the Calendar Year or Quarter Ended June 30, 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: Name: Gartmore Global Asset Management LTD ------------------------------------------------------- Address: 8 Fenchurch Place London, England EC3M 4PH ------------------------------------------------------- Form 13F File Number: 28-04903 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 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: /s/ Alan Buddles ------------------------------------------ Title: Vice President ------------------------------------------ Phone: 020-7782-2000 ------------------------------------------ Signature, Place, and Date of Signing: /s/ Alan Buddles London, England 8/16/2004 ---------------- ------------------------- --------------- (Signature) (City, State) (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).) Form 13F Gartmore Summary Page Report Summary: Form 13F Gartmore Information Table Entry 533 Form 13F Gartmore Information Table Value 1,923,609 (thousands)

FORM 13F INFORMATION TABLE VALUE SHARES/ SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE ------------------------------ ---------------- --------- -------- -------- --- ---- ------- -------- ---- -------- ---- 1ST HEALTH GROUP COM USD0.01 320960107 450 17200 SH 0 17200 0 3 COM CORP COM STK USD0.01 885535104 430 72841 SH 0 72841 0 3M CO COM STK USD0.01 88579Y101 11382 164796 SH 0 164796 0 ABBOTT LABORATORIES COM STK NPV 002824100 16483 387388 SH 0 387388 0 ABERCROMBIE & FITCH CO CLASS'A'COM STK 002896207 554 20000 SH 0 20000 0 USD0.01 ADOBE SYSTEMS INCORPORATED COM STK 00724F101 2156 54886 SH 0 54886 0 USD0.0001 ADVANCED MICRO DEVICES INC COM STK USD0.01 007903107 781 70305 SH 0 70305 0 ADVANCED SEMICONDUCTOR ADR (REP 5 SHS 00756M404 2356 610316 SH 0 610316 0 ENGINEERING TWD-DTC) ADVISORY BOARD CO COM USD0.01 00762W107 8366 181823 SH 0 181823 0 AES CORP COM USD0.01 00130H105 834 112384 SH 0 112384 0 AETNA INC(NEW) COM STK USD0.01 00817Y108 2028 33227 SH 0 33227 0 AFFILIATED COMPUTER SERVICES CLASS'A'COM STK 008190100 1227 25200 SH 0 25200 0 INC USD0.01 AFLAC INC COM STK USD0.10 001055102 3298 102119 SH 0 102119 0 AGERE SYSTEMS COM USD0.01 00845V100 791 257500 SH 0 257500 0 CLS'A' AGERE SYSTEMS INC COM USD0.01 00845V209 538 186100 SH 0 186100 0 CLASS'B' AGILENT TECHS INC COM STK USD0.01 00846U101 2105 95201 SH 0 95201 0 AIR PRODUCTS + CHEMICALS,INC COM USD1 009158106 2579 57085 SH 0 57085 0 ALARIS MEDICAL SYSTEMS INC COM STK USD0.01 011637105 913 55010 SH 0 55010 0 ALBERTO-CULVER CO CLASS'A'CNV 013068200 275 4800 SH 0 4800 0 US$0.22 ALBERTO-CULVER CO CLASS'B'CNV COM 013068101 259 4400 SH 0 4400 0 USD0.22 ALBERTSON'S,INC COM USD1 013104104 1493 72575 SH 0 72575 0 ALCATEL ADR-REP 1/5 ORD 013904305 1580 133600 SH 0 133600 0 EUR2-DTC ALCOA INC COM STK USD1 013817101 12431 468406 SH 0 468406 0 ALCON INC COM CHF0.20 H01301102 2807 50244 SH 0 50244 0 ALLERGAN INC COM STK USD0.01 018490102 2040 25905 SH 0 25905 0 ALLIANT TECHSYSTEMS INC COM STK USD0.01 018804104 384 8000 SH 0 8000 0 ALLIED CAPITAL CORP COM STK 01903Q108 585 23800 SH 0 23800 0 USD0.0001 ALLSTATE CORP COM STK USD0.01 020002101 5229 143142 SH 0 143142 0 ALLTEL CORP COM STK US$1 020039103 2967 64028 SH 0 64028 0 ALTERA CORP COM STK USD0.001 021441100 2166 114547 SH 0 114547 0 ALTIRIS INC COM USD0.0001 02148M100 969 36970 SH 0 36970 0 ALTRIA GROUP INC NEW COM STK 02209S103 22726 519203 SH 0 519203 0 USD0.333 AMAZON COM INC COM STK USD0.01 023135106 22491 459340 SH 0 459340 0 AMB PROPERTIES CORP COM USD0.01 00163T109 515 16700 SH 0 16700 0 AMBAC FINANCIAL GROUP INC COM STK USD0.01 023139108 15083 235478 SH 0 235478 0 AMDOCS ORD GBP0.01 G02602103 871 46325 SH 0 46325 0 AMER INTL GROUP COM USD2.50 026874107 47240 817628 SH 0 817628 0 AMERADA HESS CORP COM STK US$1 023551104 698 13931 SH 0 13931 0 AMEREN CORP COM STK USD0.01 023608102 1474 34357 SH 0 34357 0 AMERICA MOVIL SA ADR(EACH REP 20 02364W105 12551 541282 SH 0 541282 0 SHS NPV SER'L'-DTC) AMERICAN CAPITAL STRATEGIES COM USD0.01 024937104 405 16280 SH 0 16280 0 AMERICAN ELECTRIC POWER CO,INC COM USD6.50 025537101 3047 101553 SH 0 101553 0 AMERICAN EXPRESS CO COM USD0.20 025816109 19197 425073 SH 0 425073 0 AMERICAN HEALTHWAYS COM STK USD0.001 02649V104 1269 30984 SH 0 30984 0 AMERICAN POWER CONVERSION COM STK US$0.01 029066107 700 40846 SH 0 40846 0 AMERICAN STANDARD COMPANIES COM STK USD0.01 029712106 1230 14600 SH 0 14600 0 INC AMERICAN TOWER CORP CLASS'A'COM 029912201 2846 288448 SH 0 288448 0 USD.01 AMERISOURCE BERGEN CORP COM STK USD0.01 03073E105 1234 22827 SH 0 22827 0 AMERITRADE HLDS CORP COM USD0.01 03074K100 954 84800 SH 0 84800 0 AMGEN COM USD0.0001 031162100 35209 544069 SH 0 544069 0 AMIS HLDGS INC COM STK USD0.01 031538101 1933 104900 SH 0 104900 0 AMSOUTH BANCORP COM USD1 032165102 1468 69161 SH 0 69161 0 AMSURG CORP COM NPV 03232P405 8606 264553 SH 0 264553 0 ANADARKO PETROLEUM CORP COM STK US$0.10 032511107 2032 48650 SH 0 48650 0 ANALOG DEVICES INCORPORATED COM USD0.16 2/3 032654105 2843 74789 SH 0 74789 0 ANDREW CORP COM USD0.01 034425108 1366 112548 SH 0 112548 0 ANGIOTECH PHARMACEUTCALS INC COM STK NPV 034918102 769 17610 SH 0 17610 0 ANHEUSER-BUSCH COS INC COM STK USD1 035229103 17930 361644 SH 0 361644 0 ANTEON INTERNATIONAL CORP COM USD0.01 03674E108 1474 47861 SH 0 47861 0 ANTHEM INC COM USD0.01 03674B104 2380 33369 SH 0 33369 0 AOL TIME WARNER INC COM STK USD0.01 00184A105 29931 1984732 SH 0 1984732 0 AON CORP COM STK USD1 037389103 1274 61083 SH 0 61083 0 APACHE CORP COM STK USD1.25 037411105 20718 300353 SH 0 300353 0 APARTMENT INVESTMENT & COM STK USD0.01 03748R101 752 19100 SH 0 19100 0 MANAGEMENT CLASS 'A' APOLLO GROUP CLASS A NPV 037604105 4603 69297 SH 0 69297 0 APPLE COMPUTER CO INC COM NPV 037833100 6135 293201 SH 0 293201 0 APPLERA CORP COM APP 038020103 974 43649 SH 0 43649 0 BIOSYSTEMS GP USD0.01 APPLIED MATERIALS COM STK USD0.01 038222105 15223 829691 SH 0 829691 0 ARCHER DANIELS MIDLAND COM NPV 039483102 1661 126694 SH 0 126694 0 ARCHSTONE SMITH TRUST SBI USD0.01 039583109 962 36473 SH 0 36473 0 ARRAYCOM USD COM 9033848 1665 555000 SH 0 555000 0 ARROW ELECTRONICS INC COM STK USD1 042735100 374 20310 SH 0 20310 0 ASHLAND INCORPORATED COM USD1 044204105 476 14499 SH 0 14499 0 ASML HOLDING NV EUR0.02 (NY N07059111 1106 84300 SH 0 84300 0 REGD) ASSOCIATED BANC-CORP COM STK USD0.01 045487105 578 15300 SH 0 15300 0 ASTORIA FINANCIAL CORP COM US$0.01 046265104 451 14600 SH 0 14600 0 AT&T CORP COM USD1 (US-EX) 001957505 8494 391573 SH 0 391573 0 AT&T WIRELESS SERV COM STK USD0.01 00209A106 11041 1345399 SH 0 1345399 0 ATLAS VENTURE VI 9108154 3239 1 SH 0 1 0 ATMEL CORP COM STK USD0.001 049513104 158 39229 SH 0 39229 0 ATTACK SYSTEMS COM USD 9034420 0 245000 SH 0 245000 0 AU OPTRONICS CORPN ADS EACH RPR 10 002255107 5366 417125 SH 0 417125 0 COM (SPON) DTC AUTODESK INC COM USD0.01 052769106 451 26500 SH 0 26500 0 AUTOLIV INC USD1 SDR 5247374 207328 885671 SH 0 885671 0 AUTOMATIC DATA PROCESSING INC COM STK USD0.10 053015103 5064 141244 SH 0 141244 0 AUTONATION INC COM USD0.01 05329W102 779 44397 SH 0 44397 0 AUTOZONE INC COM STK USD0.01 053332102 1153 12880 SH 0 12880 0 AVALONBAY COMMUNITIES INC COM STK USD0.01 053484101 674 14400 SH 0 14400 0 AVAYA INC COM USD0.01 053499109 2860 259752 SH 0 259752 0 AVENTIS SA ADR-REP 1 053561106 1781 34050 SH 0 34050 0 EUR3.82'A'-DTC AVERY DENNISON CORP COM STK USD1 053611109 1180 23349 SH 0 23349 0 AVNET INC COM STK US$1 053807103 408 24700 SH 0 24700 0 AVON PRODUCTS INC COM USD0.25 054303102 3310 51277 SH 0 51277 0 B.J.SERVICES COM STK USD0.10 055482103 6726 196225 SH 0 196225 0 BAKER HUGHES INC COM STK USD1 057224107 2134 72129 SH 0 72129 0 BALL CORP COM STK NPV 058498106 626 11600 SH 0 11600 0 BANCO BRADESCO SA ADR(EACH REP 059460204 1244 61742 SH 0 61742 0 5000 PRF SHS NPV-DTC) BANCO ITAU HOLDING FINANCEIRA ADR EACH REP 500 059602201 6323 175100 SH 0 175100 0 S.A. PREF BANCOLUMBIA S.A ADS(EACH REP 4 05968L102 359 73300 SH 0 73300 0 PRF SHS COP293.18-DTC) BANK OF NEW YORK CO INC COM STK USD7.50 064057102 4653 159848 SH 0 159848 0 BANK ONE CORP COM STK USD0.01 06423A103 8731 225895 SH 0 225895 0 BANKAMERICA CORP COM STK USD0.01 060505104 28931 370411 SH 0 370411 0 BANKNORTH GROUP COM STK USD0.01 06646R107 912 32300 SH 0 32300 0 BANKUNITED FINANCIAL CORP COM STK USD0.01 06652B103 2126 100091 SH 0 100091 0 CLASS'A' BARD(C.R.) INC COM STK USD0.25 067383109 753 10600 SH 0 10600 0 BARR LABORATORIES INC COM STK USD0.01 068306109 696 10200 SH 0 10200 0 BAUSCH & LOMB INC COM STK USD0.40 071707103 503 11382 SH 0 11382 0 BAXTER INTERNATIONAL INC COM STK USD1 071813109 6947 239054 SH 0 239054 0 BB & T CORP COM USD5 054937107 3966 110445 SH 0 110445 0 BEA SYSTEMS INC COM STK USD0.001 073325102 2139 176471 SH 0 176471 0 BEAR STEARNS COS.INC COM STK US$1 073902108 1552 20748 SH 0 20748 0 BECKHAM COULTER INC COM STK USD0.10 075811109 569 12500 SH 0 12500 0 BECTON DICKINSON & COMPANY COM USD1 075887109 2354 65174 SH 0 65174 0 BED BATH AND BEYOND COM STK US0.01 075896100 2221 58171 SH 0 58171 0 BELLSOUTH CORP COM STK USD1 079860102 8975 379010 SH 0 379010 0 BEMIS CO INC COM STK USD0.10 081437105 483 10900 SH 0 10900 0 BERKLEY(WR) CORP COM STK USD0.20 084423102 582 17000 SH 0 17000 0 BERKSHIRE HATHAWAY INC CNV CLASS'A'COM 084670108 14550 194 SH 0 194 0 USD5 BEST BUY CO INC COM STK USD0.10 086516101 3276 68934 SH 0 68934 0 BIOGEN INC COM STK USD0.01 090597105 1192 31176 SH 0 31176 0 BIOMET INC COM NPV 090613100 1744 51900 SH 0 51900 0 BJS WHOLESALE CLUB INC COM STK USD0.01 05548J106 2055 106184 SH 0 106184 0 BLACK + DECKER CORP COM USD0.50 091797100 675 16634 SH 0 16634 0 BLOCK (H+R) INC COM NPV 093671105 1491 34550 SH 0 34550 0 BMC SOFTWARE INC COM USD0.01 055921100 701 50343 SH 0 50343 0 BOEING CO COM STK USD5 097023105 5455 158888 SH 0 158888 0 BORG WARNER INC COM STK US$0.01 099724106 3393 50000 SH 0 50000 0 BOSTON PROPERTIES COM USD0.01 101121101 635 14600 SH 0 14600 0 BOSTON SCIENTIFIC CORP COM USD0.01 101137107 10755 168924 SH 0 168924 0 BOWATER INC COM USD1 (UK-EX) 102183100 460 10945 SH 0 10945 0 BRAZIL TELECOM ADR(EACH REP 105530109 928 24300 SH 0 24300 0 5000 PRF NPV-DTC) BRE-X MINERALS COM NPV (USD 9135107 0 20000 SH 0 20000 0 SEDOL) BRINKER INTERNATIONAL COM STK USD0.10 109641100 661 19800 SH 0 19800 0 BRISTOL-MYERS SQUIBB COMPANY COMMON USD0.10 110122108 10352 403431 SH 0 403431 0 BROADCOM CORP CL A COM STK 111320107 2292 86053 SH 0 86053 0 USD0.0001 BROWN-FORMAN CORP CLASS'B'COM 115637209 481 6085 SH 0 6085 0 USD0.15 BUNGE LTD COM STK USD0.01 G16962105 558 20300 SH 0 20300 0 BURLINGTON NORTHERN SANTA FE COM STK USD0.01 12189T104 2136 73974 SH 0 73974 0 CORP BURLINGTON RESOURCES COM USD0.01 122014103 2004 41575 SH 0 41575 0 CABLENET INTERNATIONAL LIMITED SERIES 'B' 9118380 0 5357142 SH 0 5357142 0 CONVERTIBLE PREFERRED SHS CABLEVISION SYSTEMS CORP CLASS'A' COM 12686C109 901 49764 SH 0 49764 0 USD0.01 CABOT CORP COM STK US$1 127055101 374 13119 SH 0 13119 0 CACI INTERNATIONAL INC CLASS 'A' COM 127190304 2862 66519 SH 0 66519 0 STK USD0.10 CADENCE DESIGN SYSTEMS INC COM STK US$0.01 127387108 867 64720 SH 0 64720 0 CAMPBELL SOUP CO CAP STK 134429109 1883 71049 SH 0 71049 0 USD0.0375 CANADIAN NATIONAL RAILWAYS CO COM STK NPV 136375102 4571 87555 SH 0 87555 0 (US-EX) CAPITAL ONE FINANCIAL CORP COM STK US$0.01 14040H105 8819 154180 SH 0 154180 0 CAPITAL RECOVERY SYNDICATION CLASS 121202 9128204 3704 8000000 SH 0 8000000 0 TRUST CARDINAL HEALTH INC COM STK NPV 14149Y108 5177 88665 SH 0 88665 0 CAREER EDUCATION CORP COM STK USD0.01 141665109 2565 56104 SH 0 56104 0 CAREMARK RX INC COM USD0.001 141705103 1205 53300 SH 0 53300 0 CARLYLE-DEX PARTNERS L.P USD1 9126532 3969 1 SH 0 1 0 CARLYLE-MEDPOINTE PARTNERS II L.P 9113631 4487 1 SH 0 1 0 CARMAX INC COM USD0.50 143130102 2656 79364 SH 0 79364 0 CARNIVAL CORP COM 143658300 3663 111370 SH 0 111370 0 USD0.01(PAIRED STOCK) CATERPILLAR INC COM USD1 149123101 4923 71516 SH 0 71516 0 CBRL GROUP INC COM STK USD0.01 12489V106 1275 35523 SH 0 35523 0 CDW COMPUTERS CENTRE INC COM STK USD0.01 12512N105 785 13600 SH 0 13600 0 CELGENE CORP COM STK USD0.01 151020104 1201 26975 SH 0 26975 0 CEMEX S.A. DE C.V ADR(EACH REP 5 151290889 7986 319565 SH 0 319565 0 CPO-DTC) CENDANT CORP COM USD0.01 151313103 10666 571562 SH 0 571562 0 CENTERPOINT ENERGY INC COM NPV 15189T107 579 63159 SH 0 63159 0 CENTEX CORP COM STK USD0.25 152312104 1106 14200 SH 0 14200 0 CENTURYTEL INC COM USD1 156700106 1123 33150 SH 0 33150 0 CEPHALON INC COM STK US$0.01 156708109 519 11300 SH 0 11300 0 CERIDIAN CORP COM STK USD0.50 156779100 7592 402030 SH 0 402030 0 CERNER CORP COM USD0.01 156782104 1033 32349 SH 0 32349 0 CERTEGY INC COM STK USD0.01 156880106 556 17315 SH 0 17315 0 CH ROBINSON WORLDWIDE INC COM STK USD0.10 12541W100 640 17200 SH 0 17200 0 CHARLES RIVER ASSOC INC COM STK NPV 159852102 2376 83188 SH 0 83188 0 CHARTER ONE FINANCIAL COM STK USD0.01 160903100 1773 57935 SH 0 57935 0 CHARTERED SEMICONDUCTOR ADR REP 10 ORD 16133R106 153 18000 SH 0 18000 0 SGD0.26-DTC CHECK POINT SOFTWARE ORD ILS0.01 M22465104 979 58235 SH 0 58235 0 TECHNOLOGIES CHEESECAKE FACTORY COM STK USD0.01 163072101 3536 98497 SH 0 98497 0 CHEVRONTEXACO CORP COM USD0.75 166764100 26310 367895 SH 0 367895 0 CHINA MOBILE (HK) ADR REP 20 ORD 16941M109 526 40000 SH 0 40000 0 HKD0.10-DTC CHINA PETROLEUM & CHEMICALS ADR REP 100 'H' 16941R108 2802 102840 SH 0 102840 0 CORP SHARES-DTC CHIRON CORP COM STK USD0.01 170040109 9949 190920 SH 0 190920 0 CHOICEPOINT COM STK USD0.10 170388102 596 17800 SH 0 17800 0 CHUBB CORP COM STK USD1 171232101 2312 35640 SH 0 35640 0 CHUNGWA TELECOM ADR EACH REPR 10 17133Q205 185 13200 SH 0 13200 0 ORD TWD10 CIA ENERGETICA MINAS ADR(REP 1000 204409601 2836 240231 SH 0 240231 0 GERAIS-CEMIG NVTG PF SHS LVL1-DTC) CIA VALE RIO DOCE ADR(1 PRF 204412100 10594 289314 SH 0 289314 0 SHS-DTC) CIENA CORP COM STK USD0.01 171779101 532 90033 SH 0 90033 0 CIGNA CORP COM STK USD0.25 125509109 1318 29519 SH 0 29519 0 CINCINNATI FINANCIAL CORP COM STK USD2 172062101 1338 33488 SH 0 33488 0 CINERGY CORP COM STK USD0.01 172474108 1809 49283 SH 0 49283 0 CINTAS CORP COM NPV 172908105 2998 80235 SH 0 80235 0 CISCO SYSTEMS INC COM STK USD0.001 17275R102 53377 2712956 SH 0 2712956 0 (US-EX) CITI GROUP COM STK USD0.01 125581108 1219 42400 SH 0 42400 0 CITIGROUP INC COM STK USD0.01 172967101 84546 1852914 SH 0 1852914 0 (US-EX) CITIZENS COMMUNICATIONS CLASS'B'COM STK 17453B101 642 57310 SH 0 57310 0 USD0.25 CITRIX SYSTEMS INC COM STK USD0.001 177376100 1135 51300 SH 0 51300 0 CITY NATIONAL CORP COM STK USD1 178566105 510 10000 SH 0 10000 0 CLARCOR INC COM STK USD1 179895107 2025 51323 SH 0 51323 0 CLEAR CHANNEL COMMUNICATIONS COM STK USD0.10 184502102 8399 220786 SH 0 220786 0 INC CLOROX CO COM STK USD1 189054109 1471 32065 SH 0 32065 0 CNOOC LTD ADS REP 20 ORD 126132109 3355 99679 SH 0 99679 0 HKD0.10-DTC COACH INC COM USD0.01 189754104 4726 86727 SH 0 86727 0 COCA-COLA CO COM STK USD0.25 191216100 23450 545784 SH 0 545784 0 COCA-COLA ENTERPRISES INC COM STK USD1 191219104 1346 70621 SH 0 70621 0 COCA-COLA FEMSA SA DE CV ADS(EACH REPR 10 191241108 1607 75600 SH 0 75600 0 SER'L'COM NPV-DTC) COLGATE-PALMOLIVE CO COM STK USD1 194162103 16892 302427 SH 0 302427 0 COMCAST CORPORATION 'A' SPL COM USD1 20030N200 9459 319396 SH 0 319396 0 COMCAST CORPORATION COM CLS'A' USD1 20030N101 10142 328557 SH 0 328557 0 COMERICA INC COM STK USD5 200340107 1718 36876 SH 0 36876 0 COMMERCE BANCORP INC COM STK USD1 200519106 2272 47684 SH 0 47684 0 COMMERCE BANCSHARES INC COM STK USD5 200525103 591 13500 SH 0 13500 0 COMMUNITY HEALTH SYSTEMS INC COM STK USD0.01 203668108 291 13400 SH 0 13400 0 COMPANHIA SIDERUGICA NACIONAL ADR(1 ADR EQUALS 20440W105 2536 71500 SH 0 71500 0 1000 ORD-DTC) COMPANIA ANONIMA NCNL TLFN DE ADR(EACH REP 7 204421101 157 11350 SH 0 11350 0 VNZA CLS'D'SHS-DTC) COMPANIA CERVECERI AS UNIDAS ADS(EACH 1 CNV 204429104 727 41100 SH 0 41100 0 SA INTO 5 COM STK NPV-DTC) COMPANIA DE BEBIDAS DAS ADR(REP 100 PRF 20441W203 6106 281500 SH 0 281500 0 AMERICAS SHS-DTC) COMPANIA TELECOMUNICACIONES ADR(EACH REP 4 204449300 554 42942 SH 0 42942 0 CHILE ORD SER'A'NPV-DTC) COMPASS 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COM STK USD0.50 902911106 1231 34998 SH 0 34998 0 VALERO ENERGY CORP(NEW) COM STK USD0.01 91913Y100 876 22900 SH 0 22900 0 VALLEY NATL BANCP COM STK NPV 919794107 473 17000 SH 0 17000 0 VALUECLICK INC COM STK USD0.001 92046N102 1356 161458 SH 0 161458 0 VARIAN MEDICAL SYSTEMS INC COM USD1 92220P105 799 13900 SH 0 13900 0 VCGA III B RED PREF 9100503 417 13350 SH 0 13350 0 VENCAP 7 LLC ORD USD 9071449 6587 2000000 SH 0 2000000 0 VENCAP 9 LLC II LLC CLASS 'B' 9089301 3753 2000000 SH 0 2000000 0 USD VERISIGN COM STK USD0.001 92343E102 1829 135665 SH 0 135665 0 VERITAS SOFTWARE COM STK USD0.001 923436109 13976 439777 SH 0 439777 0 VERIZON COMMUNICATION COM STK USD0.10 92343V104 22819 702943 SH 0 702943 0 VF CORPORATION COMMON NPV 918204108 889 22838 SH 0 22838 0 VIACOM INC NON VTG COM STK 925524308 14225 371489 SH 0 371489 0 US$0.01 CLASS'B' VIAD CORP COM STK USD1.50 92552R109 440 18413 SH 0 18413 0 VIMPEL COMMUNICATIONS ADR(EACH 4 CNV 3 68370R109 3499 56700 SH 0 56700 0 ORD RUR5-DTC) VISTACARE INC CLASS'A'COM 92839Y109 7678 244945 SH 0 244945 0 USD0.01 VORNADO REALTY TRUST USD0.04 929042109 817 17000 SH 0 17000 0 VOTORANTIM CELULOSE E PAPEL SA ADR(REP 500 PRF 92906P106 9004 344215 SH 0 344215 0 SHS-DTC) VULCAN MATERIALS CO COM STK US$1 929160109 835 20924 SH 0 20924 0 WACHOVIA CORP COM USD3.333 1/3 929903102 11375 276157 SH 0 276157 0 WAL-MART STORES COM USD0.10 931142103 73434 1307844 SH 0 1307844 0 WALGREEN COMPANY COM USD0.078125 931422109 6274 204773 SH 0 204773 0 WALT DISNEY(HLDG)COMPANY COM STK USD0.01 254687106 10347 512871 SH 0 512871 0 WASHINGTON MUTUAL INC COM NPV 939322103 17464 443953 SH 0 443953 0 WASHINGTON POST CO COM STK 939640108 289 435 SH 0 435 0 CLASS'B'US$1 WASTE MANAGEMENT COM STK USD0.01 94106L109 3085 117893 SH 0 117893 0 WATERS CORP COM STK USD0.01 941848103 688 25100 SH 0 25100 0 WATSON PHARMACEUTICALS INC COM STK 942683103 7024 168074 SH 0 168074 0 USD0.0033 WEATHERFORD INTL COM USD1 COM USD1 G95089101 994 26300 SH 0 26300 0 WEBMD CORPORATION COM STK 94769M105 555 62200 SH 0 62200 0 USD0.0001 WEIGHTWATCHERS INTERNATIONAL COM NPV 948626106 366 8800 SH 0 8800 0 INC WELLPOINT HEALTH NETWORK INC COM STK USD0.01 94973H108 3910 50902 SH 0 50902 0 WELLS FARGO & CO COM STK USD1 2/3 949746101 30401 589885 SH 0 589885 0 WENDY'S INTERNATIONAL INC COM STK NPV 950590109 773 23938 SH 0 23938 0 WESTELL TECHNOLOGIES CLASS A COM STK 957541105 927 123800 SH 0 123800 0 USD0.01 WESTERN DIGITAL CORPORATION COM USD0.01 958102105 3964 307360 SH 0 307360 0 WESTWOOD ONE INC COM STK USD0.01 961815107 474 15700 SH 0 15700 0 WEYERHAEUSER CO COM STK USD1.25 962166104 2521 43137 SH 0 43137 0 WHIRLPOOL CORP COM STK USD1 963320106 1156 17065 SH 0 17065 0 WHOLE FOODS MARKET COM STK NPV 966837106 1416 25503 SH 0 25503 0 WILLIAMS COMPANIES INC COM STK US$1 969457100 976 103600 SH 0 103600 0 WILLIAMS-SONOMA IN COM USD0.01 969904101 639 23700 SH 0 23700 0 WINN-DIXIE STORES INCORPORATED COM USD1 974280109 212 21942 SH 0 21942 0 WISCONSIN ENERGY COM USD0.01 976657106 740 24194 SH 0 24194 0 WRIGLEY(WILLIAM)JUNIOR CO COM STK NPV 982526105 1639 29633 SH 0 29633 0 WYETH COM USD0.333 983024100 24919 539583 SH 0 539583 0 XCEL ENERGY INC COM USD2.5 98389B100 1266 81851 SH 0 81851 0 XEROX CORP COM STK USD1 984121103 1577 153684 SH 0 153684 0 XILINX INC COM STK US$0.01 983919101 2977 104511 SH 0 104511 0 XL CAPITAL LTD CLASS 'A' COM G98255105 3067 39604 SH 0 39604 0 USD0.01 XM SATELLITE RADIO CLASS A COM STK 983759101 1926 125216 SH 0 125216 0 USD0.01 XTO ENERGY INC COM STK USD0.01 98385X106 785 37400 SH 0 37400 0 YAHOO INC COM USD0.001 984332106 3554 100440 SH 0 100440 0 YUM BRANDS INC COM STK NPV 988498101 1816 61301 SH 0 61301 0 ZEBRA TECHNOLOGY CLASS'A'COM STK 989207105 1350 26610 SH 0 26610 0 USD0.01 ZIMMER HOLDINGS INC COM STK USD0.01 98956P102 3195 57977 SH 0 57977 0 ZIONS BANCORP COM STK NPV 989701107 7584 135320 SH 0 135320 0

Page 1 ATLAS VENTURE VI 9108154 $ 4,746 1 X 1 ATTACK SYSTEMS COM USD 9034420 $ 245,000 X 245,000 AUTODESK INC COM USD0.01 052769106 $ 1,417 33,103 X 33,103 AUTOLIV INC COM STK USD0.01 052800109 $ 213 5,055 X 5,055 AUTOMATIC DATA PROCESSING INC COM STK USD0.10 053015103 $10,017 237,952 X 237,952 AVON PRODUCTS INC COM USD0.25 054303102 $ 9,944 218,410 X 218,410 B.J.SERVICES COM STK USD0.10 055482103 $ 1,511 33,266 X 33,266 BAKER HUGHES INC COM STK USD1 057224107 $ 6,033 162,347 X 162,347 BANCO ITAU HOLDING FINANCEIRA S.A. ADR EACH REP 500 PREF 059602201 $ 9,736 210,400 X 210,400 BANCOLUMBIA S.A ADS(EACH REP 4 PRF SHS COP293.18-DTC) 05968L102 $ 516 79,700 X 79,700 BANK OF NEW YORK CO INC COM STK USD7.50 064057102 $ 398 13,503 X 13,503 BANK ONE CORP COM STK USD0.01 06423A103 $12,435 246,045 X 246,045 BANKAMERICA CORP COM STK USD0.01 060505104 $ 7,930 93,733 X 93,733 BAUSCH & LOMB INC COM STK USD0.40 071707103 $ 265 4,075 X 4,075 BAXTER INTERNATIONAL INC COM STK USD1 071813109 $ 5,372 155,875 X 155,875 BB & T CORP COM USD5 054937107 $ 350 9,477 X 9,477 BECKHAM COULTER INC COM STK USD0.10 075811109 $ 6,765 113,141 X 113,141 BECTON DICKINSON & COMPANY COM USD1 075887109 $ 6,666 131,880 X 131,880 BELLSOUTH CORP COM STK USD1 079860102 $ 891 33,992 X 33,992 BERKSHIRE HATHAWAY INC CNV CLASS'A'COM USD5 084670108 $ 1,423 16 X 16 BEST BUY CO INC COM STK USD0.10 086516101 $ 284 5,607 X 5,607 BIOGEN IDEC INC COM USD0.0005 09062X103 $ 464 7,350 X 7,350 BOEING CO COM STK USD5 097023105 $14,273 282,098 X 282,098 BOISE CASCADE CORP COM STK USD2.50 097383103 $ 6,739 179,790 X 179,790 BORG WARNER INC COM STK US$0.01 099724106 $ 4,377 100,000 X 100,000 BOSTON SCIENTIFIC CORP COM USD0.01 101137107 $13,845 335,610 X 335,610 BRISTOL-MYERS SQUIBB COMPANY COMMON USD0.10 110122108 $ 1,301 53,102 X 53,102 BROADCOM CORP CL A COM STK USD0.0001 111320107 $ 965 20,697 X 20,697 BUNGE LTD COM STK USD0.01 G16962105 $ 426 10,945 X 10,945 BURLINGTON NORTHERN SANTA FE CORP COM STK USD0.01 12189T104 $ 1,043 29,748 X 29,748 BURLINGTON RESOURCES COM USD0.01 122014103 $ 7,409 208,016 X 208,016 CABELAS INC COM USD0.01 126804301 $ 727 27,060 X 27,060 CAESARS ENTERTAINMENT INC COM STK USD0.01 127687101 $ 2,236 151,006 X 151,006 CALLISTO PHARMA COM USD0.0001 1312EM104 $ 956 478,041 X 478,041 CAMPBELL SOUP CO CAP STK USD0.0375 134429109 $ 474 17,684 X 17,684 CANADIAN NATIONAL RAILWAYS CO COM STK NPV (US-EX) 136375102 $ 1,311 30,868 X 30,868 CANDESCENT COM STK NPV TECHNOLOGIES CORP (*SUSPENDED) 2733973 $ 130,000 X 130,000 CAPITAL ONE FINANCIAL CORP COM STK US$0.01 14040H105 $11,750 172,370 X 172,370 CAPITAL SOURCE INC COM USD0.01 14055X102 $ 2,145 87,974 X 87,974 CARDINAL HEALTH INC COM STK NPV 14149Y108 $ 528 7,543 X 7,543 CAREMARK RX INC COM USD0.001 141705103 $ 252 7,636 X 7,636 CARLYLE-DEX PARTNERS L.P USD1 9126532 $ 8,725 1 X 1 CARLYLE-MEDPOINTE PARTNERS II L.P 9113631 $ 4,481 1 X 1 CARNIVAL CORP COM USD0.01(PAIRED STOCK) 143658300 $10,436 222,089 X 222,089 CASH AMERICA INTERNATIONAL COM STK US$0.10 14754D100 $ 4,699 203,854 X 203,854 CATERPILLAR INC COM USD1 149123101 $ 8,759 110,858 X 110,858 CEMEX S.A. DE C.V ADR(EACH REP 5 CPO-DTC) 151290889 $ 240 8,462 X 8,462 CENDANT CORP COM USD0.01 151313103 $ 2,057 84,107 X 84,107 CENTEX CORP COM STK USD0.25 152312104 $ 2,276 50,029 X 50,029 CERAGON NETWORKS NPV M22013102 $ 201 37,200 X 37,200 CHARLES RIVER ASSOC INC COM STK NPV 159852102 $ 5,254 168,128 X 168,128 CHARTER ONE FINANCIAL COM STK USD0.01 160903100 $ 237 5,368 X 5,368

Page 2 CHECK POINT SOFTWARE TECHNOLOGIES ORD ILS0.01 M22465104 $ 790 29,280 X 29,280 CHESAPEAKE ENERGY CORP COM STK USD0.01 165167107 $ 3,942 271,178 X 271,178 CHEVRONTEXACO CORP COM USD0.75 166764100 $ 9,400 100,216 X 100,216 CHINA TELECOM SPONS ADR EACH REPR CORPORATION 100'H'COM CNY1 169426103 $ 1,059 30,000 X 30,000 CHINA UNICOM ADR REP 10 ORD LIMITED HKD0.10-DTC 16945R104 $ 5,980 760,874 X 760,874 CHUBB CORP COM STK USD1 171232101 $ 590 8,673 X 8,673 CIA ENERGETICA MINAS ADR(REP 1000 NVTG PF GERAIS-CEMIG SHS LVL1-DTC) 204409601 $ 1,725 115,500 X 115,500 CIA VALE RIO DOCE ADR(1 PRF SHS-DTC) 204412100 $ 3,891 99,550 X 99,550 CIGNA CORP COM STK USD0.25 125509109 $ 1,627 23,649 X 23,649 CISCO SYSTEMS INC COM STK USD0.001 (US-EX) 17275R102 $10,798 455,365 X 455,365 CITADEL SECURITY SOFTWARE INC COM USD0.01 17288Q109 $ 2,359 734,908 X 734,908 CITI GROUP COM STK USD0.01 125581108 $ 5,582 146,964 X 146,964 CITIGROUP INC COM STK USD0.01 (US-EX) 172967101 $27,778 598,672 X 598,672 CLARCOR INC COM STK USD1 179895107 $10,176 225,340 X 225,340 CLEAR CHANNEL COMMUNICATIONS INC COM STK USD0.10 184502102 $ 607 16,535 X 16,535 COCA-COLA CO COM STK USD0.25 191216100 $13,807 273,238 X 273,238 COCA-COLA ENTERPRISES INC COM STK USD1 191219104 $ 1,238 42,697 X 42,697 COCA-COLA FEMSA ADS(EACH REPR 10 SA DE CV SER'L'COM NPV-DTC) 191241108 $ 9,472 427,883 X 427,883 COLGATE-PALMOLIVE CO COM STK USD1 194162103 $ 7,198 122,855 X 122,855 COMCAST CORPORATION 'A' SPL COM USD1 20030N200 $ 522 18,896 X 18,896 COMCAST CORPORATION COM CLS'A' USD1 20030N101 $ 9,838 351,882 X 351,882 COMPANHIA SIDERUGICA ADR(1 ADR EQUALS NACIONAL 1000 ORD-DTC) 20440W105 $ 1,613 132,800 X 132,800 COMPANIA ANONIMA ADR(EACH REP 7 NCNL TLFN DE VNZA CLS'D'SHS-DTC) 204421101 $ 211 10,600 X 10,600 COMPANIA DE BEBIDAS DAS ADR(REP 100 PRF AMERICAS SHS-DTC) 20441W203 $ 3,741 187,400 X 187,400 COMPUTER ASSOC INTERN INC COM STK USD0.10 204912109 $ 213 7,575 X 7,575 COMPUTER SCIENCES CORP COM STK USD1 205363104 $ 358 7,743 X 7,743 CONAGRA FOODS INC COM USD5 205887102 $ 242 8,950 X 8,950 CONOCOPHILLIPS COM STK USD0.01 20825C104 $16,542 217,808 X 217,808 CONSTELLATION BRANDS INC CLASS A CLASS A COM USD0.01 21036P108 $ 255 6,887 X 6,887 CONSTELLATION ENERGY GROUP COM STK NPV 210371100 $ 679 17,909 X 17,909 COORS(ADOLPH)CO COM CLASS'B'NON.V NPV 217016104 $ 1,482 20,480 X 20,480 CORNING INC COM STK USD0.50 219350105 $ 352 26,938 X 26,938 COSTAR GROUP INC COM STK USD0.01 22160N109 $ 5,539 119,980 X 119,980 COSTCO WHOLESALE COM USD0.005 22160K105 $ 325 7,918 X 7,918 COTT CORPORATION COM NPV (US-EX) 22163N106 $ 3,413 105,414 X 105,414 COUNTRYWIDE FINANCIAL CORP COM USD0.05 222372104 $ 5,143 73,463 X 73,463 CREDIT ACCEPTANCE CORP COM STK USD0.01 225310101 $ 3,684 250,214 X 250,214 CV THERAPEUTICS IN COM USD0.001 126667104 $ 489 29,160 X 29,160 CVS CORP COM STK USD0.01 126650100 $10,384 246,453 X 246,453 CYBERSOURCE CORP COM STK USD0.001 23251J106 $ 1,827 226,566 X 226,566 DANAHER CORP COM USD0.01 235851102 $ 1,029 19,884 X 19,884 DEAN FOODS CO COM STK USD0.01 242370104 $ 1,720 46,299 X 46,299 DECODE GENETICS COM STK USD0.001 243586104 $ 255 30,000 X 30,000 DEERE + CO COM USD1 244199105 $11,311 163,090 X 163,090 DELL INC COM COM USD0.01 24702R101 $ 3,895 108,915 X 108,915 DELPHI CORPORATION COM STK USD0.01 247126105 $ 112 10,444 X 10,444 DESARROLLADORA HOMEX SA DE CV ADR EACH REPR COM NPV 25030W100 $ 780 45,000 X 45,000 DEVON ENERGY(NEW) COM USD0.10 25179M103 $ 261 3,952 X 3,952 DIGITAL THEATER SY COM USD0.0001 25389G102 $ 3,469 135,040 X 135,040 DIGITAS INC COM STK USD0.01 25388K104 $ 5,394 502,214 X 502,214 DIONEX CORP COM STK USD0.001 254546104 $ 9,228 166,900 X 166,900 DIRECTV GROUP INC COM USD0.01 25459L106 $ 302 17,679 X 17,679

Page 3 DOLLAR GENERAL CORP COM STK USD0.50 256669102 $ 959 49,043 X 49,043 DOMINION RESOURCES INC(VIRGINIA) COM STK NPV 25746U109 $ 933 14,791 X 14,791 DONNELLEY(R.R.)& SONS CO COM STK USD1.25 257867101 $ 392 11,862 X 11,862 DOUGHTY HANSON PARTNERSHIP NO.4 9096130 $ 6,544 1 X 1 DOW CHEMICAL CO COM STK USD2.50 260543103 $ 4,491 110,129 X 110,129 DR HORTON INC COM STK USD0.01 23331A109 $ 1,311 46,162 X 46,162 DRAPER FISHER JURVETSON FUND VII LP 9095676 $ 5,186 1 X 1 DRAPER FISHER JURVETSON PLANET VENT URES LP 9092451 $ 7,546 1 X 1 DU PONT(E.I.)DE NEMOURS & CO COM STK USD0.30 263534109 $ 753 16,948 X 16,948 DUKE ENERGY CORP COM NPV 264399106 $ 308 15,183 X 15,183 EASTMAN KODAK CO COM STK USD2.50 277461109 $ 6,829 254,208 X 254,208 EATON CORPORATION COM USD0.50 278058102 $ 971 15,066 X 15,066 EBAY INC COM STK USD0.001 278642103 $13,485 146,800 X 146,800 ECOLAB INC COM STK USD1 278865100 $ 423 13,345 X 13,345 EDISON INTERNATIONAL COM NPV 281020107 $ 811 31,728 X 31,728 EL PASO CORP COM USD3 28336L109 $ 82 10,383 X 10,383 ELAN CORPORATION ADR (CNV TO 1 ORD EUR0.05)-DTC 284131208 $ 214 8,650 X 8,650 ELECTRONIC ARTS COM NPV 285512109 $ 1,210 22,310 X 22,310 EMC CORP MASSACHUSETTS COM STK USD0.01 268648102 $ 5,982 523,974 X 523,974 EMERSON ELECTRIC CO COM USD0.05 291011104 $ 559 8,796 X 8,796 EMMIS COMMUNICATIONS CORP CLASS 'A' COM USD0.01 291525103 $ 377 17,960 X 17,960 EMPRESA NACIONAL DE ELECTRICIDAD ADS(EACH REP 30 COM SA SHS-DTC) 29244T101 $ 224 18,600 X 18,600 ENERGEN CORP COM USD0.01 29265N108 $ 234 4,882 X 4,882 ENERSIS S.A ADS(REPR 50 COM SHS-DTC) 29274F104 $ 134 22,700 X 22,700 ENTERGY CORP COM STK USD0.01 29364G103 $ 223 3,989 X 3,989 ENTUITY LTD C CONV PREF SHSGBP0.00005 9123823 $ 22,644,928 X 22,644,928 EOG RESOURCES COM USD0.01 26875P101 $14,464 243,368 X 243,368 EQUITABLE RESOURCES INC COM STK NPV 294549100 $ 255 4,924 X 4,924 EQUITY OFFICE PROPERTIES COM STK USD0.01 294741103 $ 299 10,999 X 10,999 EQUITY RESIDENTIAL SHS OF BENEFICIAL PROPERTIES TRUST INTREST USD0.01 29476L107 $ 245 8,230 X 8,230 ESTEE LAUDER CLASS'A'COM STK COMPANIES INC USD0.01 518439104 $ 7,402 153,666 X 153,666 EURONET WORLDWIDE INC COM STK USD0.02 298736109 $ 1,848 78,324 X 78,324 EXELON CORP COM STK NPV 30161N101 $ 3,195 96,164 X 96,164 EXXON MOBIL CORP COM STK NPV 30231G102 $12,383 278,740 X 278,740 F5 NETWORK INC COM NPV 315616102 $ 1,905 72,872 X 72,872 FAIRMONT HOTELS RESORTS COM NPV (US-EX) 305204109 $ 483 17,920 X 17,920 FANNIE MAE COM NPV 313586109 $ 1,813 25,401 X 25,401 FEDERATED DEPARTMENT STORES,INC COM USD0.01 31410H101 $ 1,168 23,824 X 23,824 FEDEX CORP COM STK USD0.10 31428X106 $ 512 6,273 X 6,273 FIFTH THIRD BANCORP COM NPV 316773100 $ 521 9,688 X 9,688 FIRST DATA CORPORATION COM USD0.01 319963104 $ 676 15,183 X 15,183 FIRSTENERGY CORP COM STK USD0.10 337932107 $ 334 8,932 X 8,932 FISHER SCIENTIFIC INTL COM STK USD0.01 338032204 $ 1,642 28,577 X 28,577 FLEXTRONICS INTERNATIONAL LTD COM USD0.01 Y2573F102 $ 1,498 93,926 X 93,926 FORD MOTOR CO COM STK USD0.01 345370860 $ 482 30,790 X 30,790 FOREST LABORATORIES INC COM STK USD0.10 345838106 $ 359 6,342 X 6,342 FPL GROUP INC COM STK USD0.01 302571104 $ 208 3,251 X 3,251 FREDDIE MAC COM USD0.21 313400301 $ 4,282 67,649 X 67,649 FREEPORT-MCMORAN CLASS'B'COM STK COPPER + GOLD INC USD0.10 35671D857 $ 7,810 237,709 X 237,709 GANNETT CO INC COM STK USD1 364730101 $ 1,876 22,032 X 22,032 GAP INC COM USD0.05 364760108 $ 1,124 46,341 X 46,341 GEN-PROBE INC COM USD0.0001 36866T103 $ 2,165 46,518 X 46,518

Page 4 GENENTECH INC COM USD0.02 368710406 $ 1,195 21,725 X 21,725 GENERAL DYNAMICS CORP COM STK USD1 369550108 $ 2,220 22,356 X 22,356 GENERAL ELECTRIC CO(U.S.) COM STK USD0.06 369604103 $35,825 1,106,947 X 1,106,947 GENERAL MILLS INC COMMON USD0.10 370334104 $ 305 6,427 X 6,427 GENERAL MOTORS CORP COM STK USD1 2/3 370442105 $ 2,349 50,394 X 50,394 GENITOPE CORP COM USD0.001 37229P507 $ 1,980 204,212 X 204,212 GENZYME CORP GENERAL DIVISION COM STK USD0.01 372917104 $ 9,982 212,854 X 212,854 GEORGIA PACIFIC GROUP COM STK USD0.80 373298108 $ 8,457 233,382 X 233,382 GERDAU SA ADR(EACH REP1 PFR SIDERIRG SHS NPV-DTC) 373737105 $ 8,970 744,700 X 744,700 GETTY IMAGES INC COM USD0.01 374276103 $ 3,276 55,610 X 55,610 GEVITY HR INC COM USD0.01 374393106 $ 3,675 139,934 X 139,934 GILEAD SCIENCES COM USD0.001 375558103 $ 234 3,497 X 3,497 GILLETTE CO COM STK USD1 375766102 $24,196 572,196 X 572,196 GOLD FIELDS ADR REPR 1 ORD ZAR0.50(BNY) 38059T106 $ 1,015 96,600 X 96,600 GOLDEN TELECOM INC COM USD0.01 38122G107 $ 4,509 160,500 X 160,500 GOLDEN WEST FINANCIAL CORP COM STK USD0.10 381317106 $ 1,586 14,909 X 14,909 GOLDMAN SACHS GROUP INC COM STK USD0.01 38141G104 $15,958 169,585 X 169,585 GREY WOLF INC. COM STK USD0.1 397888108 $ 2,624 653,488 X 653,488 GRUPO SPON ADR EACH REP 4 ELEKTRA(NEW) COM NPV 40050A201 $ 1,326 56,453 X 56,453 GRUPO FINANCIERO ADR(EACH REP 10 GALICIA SA CLS'B'SHSLVL11-DTC) 399909100 $ 68 13,100 X 13,100 GTX INC COM USD0.001 40052B108 $ 1,034 95,900 X 95,900 GUIDANT CORP COM STK NPV 401698105 $11,064 197,801 X 197,801 GUITAR CENTER INC COM USD0.01 402040109 $ 1,987 44,612 X 44,612 HALLIBURTON CO COM USD2.50 406216101 $10,084 337,273 X 337,273 HARBOURVEST PARTNERS DIRECT FUND 9103911 $ 1,085 1 X 1 HARBOURVEST PARTNERS PARTNERSHIP FUND 9103900 $ 5,004 1 X 1 HARBOURVEST VI-CAYMAN PARTNERS PARTNERSHIP FUND LP 9072152 $10,404 1 X 1 HARLEY DAVIDSON COM STK USD0.01 412822108 $ 318 5,140 X 5,140 HARTFORD FINL SERV COM USD0.01 416515104 $14,816 217,622 X 217,622 HCA INC COM USD0.01 404119109 $ 345 8,289 X 8,289 HEADWATER INC COM STK USD0.001 42210P102 $ 2,136 82,158 X 82,158 HEINZ(HJ)CO COM USD0.25 423074103 $ 237 6,049 X 6,049 HENRY VENTURE 11 ORDINARY VENTURE LIMITED(THE FUND) SHARES 9032808 $ 267 4,444 X 4,444 HEWLETT PACKARD CO COM USD0.01 428236103 $ 3,312 156,989 X 156,989 HIBBETT SPORTING G COM USD0.01 428565105 $ 3,572 131,305 X 131,305 HILTON HOTELS CORP COM STK USD2.50 432848109 $13,465 724,750 X 724,750 HOB ENTERTAINMENT CLASS'A'PREFERRED INCORPORATED STOCK USD0.01 9034335 $ 442 1,104,125 X 1,104,125 HOB ENTERTAINMENT CLASS'B'PREFERRED INCORPORATED STOCK USD0.01 9031917 $ 250 625,000 X 625,000 HOME DEPOT INC COM USD0.05 437076102 $ 3,983 113,182 X 113,182 HONEYWELL INTERNATIONAL INC COM STK US$1 438516106 $ 530 14,464 X 14,464 HOSPIRA INC COM USD0.01 441060100 $ 8,764 307,223 X 307,223 HOST MARRIOTT CORP COM USD1 44107P104 $ 147 11,891 X 11,891 HUNT(J.B)TRANSPORT SERVICES INC COM STK USD0.01 445658107 $ 2,085 54,800 X 54,800 HYPERION SOLUTIONS INC COM STK USD0.001 44914M104 $ 2,714 63,008 X 63,008 ICICI BANK ADR (ACH REP 2 ORD INR10-DTC) 45104G104 $ 8,563 715,011 X 715,011 IDEXX LABORATORIES COM STK USD0.10 45168D104 $ 1,814 28,950 X 28,950 ILLINOIS TOOL WORKS INC COM NPV 452308109 $ 724 7,555 X 7,555 IMCLONE SYSTEMS IN COM STK USD0.001 45245W109 $ 433 5,050 X 5,050 INFORTE CORP COM USD0.001 45677R107 $ 804 80,000 X 80,000 INGERSOLL-RAND CO COM USD2 CL'A' G4776G101 $ 2,441 36,090 X 36,090 INNOVET COM USD0.001 45765P104 $ 250,000 X 250,000 INSIGNIA ADS REPR EACH 1 ORD SOLUTIONS SHS 20P 45766J107 $ 264 300,000 X 300,000

Page 5 INTEL CORP COM STK USD0.001 458140100 $30,845 1,118,259 X 1,118,259 INTERNATIONAL BUSINESS MACHINES CRP COM STK USD0.20 459200101 $21,601 244,741 X 244,741 INTERNATIONAL GAME TECHNOLOGY COM STK USD0.000625 459902102 $ 233 6,042 X 6,042 INTERNATIONAL PAPER CO COM STK USD1 460146103 $ 4,169 93,599 X 93,599 INTERNATIONAL STEEL GROUP COM USD0.01 460377104 $ 9,805 327,500 X 327,500 INVESTORS FINANCIAL SERVICES CORP COM STK USD0.01 461915100 $ 4,417 103,542 X 103,542 INVITROGEN COM USD0.01 46185R100 $ 363 5,040 X 5,040 IONA TECHNOLOGIES ADS REP 1 ORD SHS-DTC 46206P109 $ 7,977 1,956,324 X 1,956,324 IPAYMENT INC COM USD0.01 46262E105 $ 1,919 46,532 X 46,532 ISHARES TRUST NASDAQ BIOTECHNOLOGY INDEX NPV (ETF) 464287556 $ 1,842 24,623 X 24,623 ITRON INC COM STK NPV 465741106 $ 1,143 49,698 X 49,698 J.C PENNEY CO INC HOLDING CO COM USD0.50 708160106 $ 683 18,085 X 18,085 JDS UNIPHASE CORP COM USD0.001 46612J101 $ 77 20,255 X 20,255 JOHNSON & JOHNSON COM STK USD1 478160104 $22,029 395,335 X 395,335 JP MORGAN CHASE & CO COM STK USD1 46625H100 $19,694 511,198 X 511,198 JUNIPER NETWORKS COM STK USD0.00001 48203R104 $ 2,245 92,221 X 92,221 KB HOME COM USD1 48666K109 $ 721 10,509 X 10,509 KELLOGG CO COM STK USD0.25 487836108 $ 223 5,322 X 5,322 KERR-MCGEE CORP COM STK USD1 492386107 $ 4,173 77,600 X 77,600 KERZNER INTL LTD COM USD0.001 P6065Y107 $ 2,186 46,582 X 46,582 KEYCORP COM USD1 493267108 $ 224 7,492 X 7,492 KIMBERLY-CLARK CORP COM STK USD1.25 494368103 $ 561 8,523 X 8,523 KNIGHTSBRIDGE INTERGRATED HOLDINGS V LP 9086517 $ 6,246 1 X 1 KNIGHTSBRIDGE POST VENTURE IV LP 9078901 $ 7,081 1 X 1 KNIGHTSBRIDGE TANKERS COM STK USD0.01 G5299G106 $ 1,447 50,000 X 50,000 KOHLS CORPORATION COM USD0.01 500255104 $ 244 5,779 X 5,779 KOOKMIN BANK ADR EA REP 1 ORD KRW5000 50049M109 $10,945 348,827 X 348,827 KRAFT FOODS INC COM STK NPV CLS'A' 50075N104 $ 1,082 34,506 X 34,506 KROGER CO COM STK USD1 501044101 $ 264 14,481 X 14,481 KYPHON INC COM USD0.001 501577100 $ 4,149 148,208 X 148,208 LASERSCOPE COM STK NPV 518081104 $ 1,816 65,256 X 65,256 LEGG MASON INCORPORATED COM STK USD0.10 524901105 $ 4,188 45,964 X 45,964 LEHMAN BROS HOLDINGS INCORPORATED COM USD0.10 524908100 $ 4,698 62,465 X 62,465 LENNAR CORP COM STK USD0.10 526057104 $ 7,061 160,431 X 160,431 LEVEL 3 COMMUNICATIONS INC COM STK USD0.01 52729N100 $ 41 11,583 X 11,583 LEXMARK INTERNATIONAL INC CLASS'A'COM USD0.01 529771107 $ 2,065 21,498 X 21,498 LIBERTY MEDIA CORP SER'A'COM USD0.01 530718105 $ 411 45,743 X 45,743 LILLY(ELI)+ CO COM STK NPV 532457108 $ 3,673 52,434 X 52,434 LIMITED BRANDS INCORPORATED COM USD0.50 532716107 $ 984 52,595 X 52,595 LINCOLN NATIONAL CORP COM STK NPV 534187109 $ 482 10,273 X 10,273 LINEAR TECHNOLOGY COM STK USD0.001 535678106 $ 214 5,426 X 5,426 LITTLEFUSE INC COM STK USD0.01 537008104 $ 3,638 86,910 X 86,910 LOCKHEED MARTIN CORP COM STK USD1 539830109 $ 7,676 147,937 X 147,937 LOWE'S COS INC COM USD0.50 548661107 $12,667 240,797 X 240,797 LUBRIZOL CORP COM STK NPV 549271104 $ 287 7,840 X 7,840 LUCENT TECHNOLOGIES INCORPORATED COM USD0.01 549463107 $ 274 72,553 X 72,553 M-SYSTEMS FLASH DISK PIONEER COM ILS0.001 M7061C100 $ 3,331 222,494 X 222,494 MACROMEDIA INC COM STK USD0.001 556100105 $ 392 16,020 X 16,020 MARATHON OIL CORP COM STK USD1 565849106 $ 224 5,909 X 5,909 MARINEMAX INC COM STK USD0.001 567908108 $ 3,322 116,502 X 116,502 MARKETWATCH COM STK USD0.01 570619106 $ 142 12,160 X 12,160 MARLIN BUSINESS SERVICES CORP COM USD0.01 571157106 $ 2,561 166,799 X 166,799

Page 6 MARRAKECH LIMITED SERIES B CONV RED PRF SHARES 9123726 $ 454 3,490,277 X 3,490,277 MARRAKECH LTD SERIES A PREFERENCE SHS 9142691 $ 150 10,980 X 10,980 MARRIOTT INTERNATIONAL INC COM USD0.01 CLASS'A' 571903202 $ 9,461 189,427 X 189,427 MARSH & MCLENNAN COS INC COM USD1 571748102 $ 403 8,872 X 8,872 MASCO CORPORATION COM USD1 574599106 $ 233 7,457 X 7,457 MAXIM INTEGRATED PRODUCTS COM STK USD0.001 57772K101 $ 1,364 26,029 X 26,029 MAY DEPARTMENT STORES COMPANY COM USD0.50 577778103 $ 3,496 127,173 X 127,173 MBNA CORP COM USD0.01 55262L100 $ 1,902 73,772 X 73,772 MCDONALD'S CORP COM STK USD0.01 580135101 $ 2,432 92,835 X 92,835 MCGRAW-HILL COS INC (THE) COM STK USD1 580645109 $ 1,964 25,650 X 25,650 MCKESSON CORP COM STK USD0.01 58155Q103 $ 377 10,993 X 10,993 MEDCOHEALTH SOLUTIONS COM NPV 58405U102 $ 427 11,474 X 11,474 MEDTRONIC INC COM USD0.10 585055106 $ 1,721 35,326 X 35,326 MELLON FINL CORP COM STK USD0.50 58551A108 $ 219 7,472 X 7,472 MERCK & CO INC COM USD0.01 589331107 $ 7,197 151,663 X 151,663 MERCURY INTERACTIVE COM STK USD0.002 589405109 $ 4,149 83,152 X 83,152 MERRILL LYNCH & CO INC COM STK USD1.333 590188108 $ 1,808 33,493 X 33,493 METLIFE INC COM STK USD0.01 59156R108 $ 1,979 55,374 X 55,374 MICRON TECHNOLOGY INC COM STK USD0.10 595112103 $ 321 21,040 X 21,040 MICROS SYSTEMS INC COM USD0.025 594901100 $ 1,998 42,006 X 42,006 MICROSOFT CORP COM STK USD0.0000125 594918104 $31,587 1,107,479 X 1,107,479 MORGAN STANLEY COM USD0.01 617446448 $11,542 220,074 X 220,074 MOTION ANALYSIS COMMON 9010027 $ 180 187,955 X 187,955 MOTION ANALYSIS SERIES 1 PREFERRED STOCK 9032230 $ 959 999,120 X 999,120 MOTOROLA INC COM STK USD3 620076109 $ 7,257 402,302 X 402,302 MSC INDUSTRIAL CLASS'A'COM STK DIRECT CO USD0.001 553530106 $ 7,894 245,185 X 245,185 NABORS INDUSTRIES LTD COM STK USD0.001 G6359F103 $ 1,273 28,338 X 28,338 NATIONAL CITY CORP COM STK USD4 635405103 $ 1,428 40,872 X 40,872 NATIONAL SEMICONDUCTOR COM USD0.50 637640103 $ 311 14,138 X 14,138 NAVIGANT CONSULTING COM STK USD0.001 63935N107 $ 3,823 179,580 X 179,580 NCR CORP COM STK USD0.01 62886E108 $10,051 205,726 X 205,726 NDS GROUP PLC ADS REP 1 'A' SHR-DTC 628891103 $ 7,217 284,119 X 284,119 NEW YORK COMMUNITY BANCORP INC COM STK USD0.01 649445103 $ 639 32,550 X 32,550 NEWCASTLE INVESTMENT CORP COM USD0.01 65105M108 $ 4,493 150,000 X 150,000 NEWCASTLE COM USD0.01 (HOLDING INVESTMENT CORP CORP) 9053890 $ 225 150,000 X 150,000 NEWCASTLE COM USD0.01 INVESTMENT CORP RESTRICTED 9147663 $ 150,000 X 150,000 NEWMONT MINING CORP COM USD1.60 651639106 $ 265 6,830 X 6,830 NEWS CORPORATION SPON ADR REP 4PFD LTD VTG 652487802 $10,992 335,581 X 335,581 NEXTEL COMMUNICATIONS INC CLASS'A'COM USD0.001 65332V103 $ 2,583 96,761 X 96,761 NEXTEL PARTNERS CLASS'A' COM STK USD0.001 65333F107 $ 6,226 383,500 X 383,500 NICE SYSTEMS ADR(EACH CNV 1 ORD SHK1-DTC) 653656108 $ 4,775 199,000 X 199,000 NIKE INC CLASS'B'COM NPV 654106103 $ 423 5,596 X 5,596 NOBLE ENERGY INC COM STK US$3.33 1/3 655044105 $ 1,763 35,459 X 35,459 NOKIA OYJ ADR REP 1 EUR0.06 SER'A'-DTC 654902204 $ 156 10,700 X 10,700 NORFOLK SOUTHERN CORP COM STK USD1 655844108 $11,586 439,854 X 439,854 NORTHERN TRUST CORPORATION COM USD1.666 665859104 $ 249 5,895 X 5,895 NORTHROP GRUMMAN COM STK USD1 666807102 $10,698 199,850 X 199,850 NOVELLUS SYSTEMS INC COM STK NPV 670008101 $ 6,794 218,400 X 218,400 O'REILLY AUTOMOTIV COM USD0.01 686091109 $ 2,661 57,624 X 57,624 OCCIDENTAL PETROLEUM CORP COM USD0.20 674599105 $ 6,696 139,695 X 139,695 OMNICOM GROUP INC COM STK USD0.15 681919106 $ 327 4,309 X 4,309 ORACLE CORPORATION COM USD0.01 68389X105 $ 7,668 644,868 X 644,868

Page 7 ORBOTECH ORD ILS0.14 M75253100 $ 8,231 405,600 X 405,600 OVERSTOCK COM INC COM USD0.0001 690370101 $ 1,750 43,548 X 43,548 PACCAR INC COM STK USD1 693718108 $ 1,798 31,111 X 31,111 PANTRY INC COM STK USD0.01 698657103 $ 1,925 84,876 X 84,876 PAYCHEX INC COM USD0.01 704326107 $ 221 6,513 X 6,513 PDI INC COM STK USD0.01 69329V100 $ 3,567 114,249 X 114,249 PEABODY ENERGY COR COM STK USD0.01 704549104 $ 1,096 19,770 X 19,770 PEDIATRIX MEDICAL GROUP INC COM STK USD0.01 705324101 $ 2,007 28,870 X 28,870 PEPSICO INC CAP USD0.016666 713448108 $ 5,931 110,197 X 110,197 PERDIGO SA ADR(2 PRF LVL 1-DTC) 71361V303 $ 303 15,900 X 15,900 PETROL ADR(EACH REP 100 PRF BRASILEIRO-PETROB SHS NPV-DTC) 71654V101 $ 7,301 292,297 X 292,297 PETROL ADS(EACH 1 REP 1 COM BRASILEIROS NPV-DTC) 71654V408 $10,048 361,151 X 361,151 PFIZER INC COM STK USD0.05 717081103 $16,438 479,247 X 479,247 PG + E CORP(HLDGS) COM STK NPV (US-EX) 69331C108 $ 833 29,810 X 29,810 PHELPS DODGE CORP COM STK USD6.25 717265102 $ 1,546 20,144 X 20,144 PIONEER NATURAL RESOURCES CO COM STK USD0.01 723787107 $ 1,953 56,176 X 56,176 PIXAR INC COM NPV 725811103 $10,842 154,700 X 154,700 PNC FINANCIAL SERVICES GROUP COM USD5 693475105 $ 401 7,561 X 7,561 PORTFOLIO RECOVERY ASSOCIATES INC COM USD0.01 73640Q105 $ 3,686 136,147 X 136,147 POSCO ADR REP 1/4 ORD COM SHS DTC 693483109 $ 217 6,481 X 6,481 POSSIS MEDICAL CORP COM STK USD0.40 737407106 $ 5,375 159,436 X 159,436 PRAXAIR INCORPORATED COM USD0.01 74005P104 $ 2,456 61,607 X 61,607 PRINCIPAL FINANCIAL GROUP COM STK USD0.01 74251V102 $ 499 14,316 X 14,316 PROCTER & GAMBLE CO COM STK NPV 742718109 $15,775 288,576 X 288,576 PROGRESSIVE CORP(OHIO) COM STK US$1 743315103 $ 312 3,658 X 3,658 PROVIDIAN FINANCIAL CORP COM USD0.01 74406A102 $ 3,963 269,600 X 269,600 PRUDENTIAL FINANCIAL INC COM STK USD0.01 744320102 $ 1,629 35,095 X 35,095 PUBLIC STORAGE INC COM STK USD0.10 74460D109 $ 443 9,681 X 9,681 QUALCOMM INC COM STK USD0.0001 747525103 $ 2,387 32,743 X 32,743 QUASTAR CORP COM STK NPV 748356102 $ 292 7,546 X 7,546 QWEST COMMUNICATIONS INTL INC COM STK USD0.01 749121109 $ 142 39,498 X 39,498 RAYTHEON CO COM USD0.01 755111507 $ 316 8,837 X 8,837 REDIFF.COM INDIA ADR(REP 1/2 ORD LIMITED INR0.05-DTC) 757479100 $ 306 36,100 X 36,100 REGENERATION TECHNOLOGIES COM STK USD0.01 75886N100 $ 2,041 190,100 X 190,100 RENAISSANCE RE HLD COM USD1 G7496G103 $ 440 8,161 X 8,161 RESEARCH IN MOTION COM NPV (US-EX) 760975102 $ 290 4,240 X 4,240 RETALIX LIMITED ILS1 (US-EX) 2267728 $ 6,621 325,600 X 325,600 REYNOLDS(RJ)TOBACCO HLDGS COM STK USD0.01 76182K105 $ 980 14,495 X 14,495 ROCKWELL COLLINS COM STK USD0.01 774341101 $ 813 24,415 X 24,415 ROWAN COS INC COM USD0.125 779382100 $ 3,240 134,900 X 134,900 ROYAL CARIBBEAN CRUISES COM USD0.01 V7780T103 $ 1,851 42,276 X 42,276 RSA SECURITY INC COM USD0.01 749719100 $ 2,380 115,032 X 115,032 RYDER SYSTEM INC COM STK USD0.50 783549108 $ 253 6,331 X 6,331 RYLAND GROUP INC COM USD1 783764103 $ 3,196 42,100 X 42,100 SADIA SA ADR EACH 1 REP 30 PRF SHS N 786326108 $ 261 6,800 X 6,800 SALESFORCE.COM INC COM USD0.001 79466L302 $ 479 29,190 X 29,190 SALIX PHARMA COM USD0.001 795435106 $ 2,096 64,734 X 64,734 SANDISK CORP COM USD0.001 80004C101 $ 3,607 160,986 X 160,986 SARA LEE CORP COM STK USD0.01 803111103 $ 298 12,967 X 12,967 SATYAM COMPUTER ADR(REP 2 INR2-DTC) 804098101 $ 1,083 58,550 X 58,550 SBC COMMUNICATIONS INC COM STK USD1 78387G103 $ 2,830 116,713 X 116,713 SCANDINAVIAN BROADCASTING SYSTEMS COM STK USD1.50 L8137F102 $ 8,256 269,194 X 269,194

Page 8 SCANSOURCE INC COM NPV 806037107 $ 3,876 65,442 X 65,442 SCHERING-PLOUGH CORP COM STK USD0.50 806605101 $ 472 25,561 X 25,561 SCHLUMBERGER COM STK USD0.01 806857108 $ 2,161 34,299 X 34,299 SCHWAB(CHARLES)CORP COM STK USD0.01 808513105 $ 225 23,453 X 23,453 SCIENCE DYNAMICS CORPORATION COM STK USD0.01 808631105 $ 7 60,000 X 60,000 SCIENTIFIC GAMES CORP A COM USD0.01 80874P109 $ 1,204 63,198 X 63,198 SCS TRANSPORTATION INC COM USD0.001 81111T102 $ 1,251 47,100 X 47,100 SEAGATE TECHNOLOGY (ESCROW RECEIPTS) 9108529 $ 13,260 X 13,260 SECURE COMPUTING C COM USD0.01 813705100 $ 231 19,800 X 19,800 SEMPRA ENERGY CORP COM STK NPV 816851109 $ 509 14,773 X 14,773 SEMTECH CORP COM STK USD0.01 816850101 $ 1,817 79,142 X 79,142 SERENA SOFTWARE COM USD0.001 817492101 $ 375 19,635 X 19,635 SHERWIN WILLIAMS + COMPANY COM USD1 824348106 $ 1,225 29,507 X 29,507 SHIRE PHARMACEUTICALS ADR REP 3 ORD GROUP GBP5(MGT)-DTC 82481R106 $ 979 36,739 X 36,739 SIEBEL SYSTEMS INC COM STK USD0.001 826170102 $ 1,664 155,640 X 155,640 SIERRA HEALTH SERVICES INC COM STK USD0.005 826322109 $ 3,274 73,600 X 73,600 SIMON PROPERTY GROUP INC COM USD0.0001 828806109 $ 261 5,071 X 5,071 SK TELECOM ADR-1/90 KRW5000-DTC 78440P108 $ 9,900 471,150 X 471,150 SKILLSET SERIES 'A' PREFERRED SOFTWARE, INC STOCK(*SUSPENDED) 9078677 $ 445,000 X 445,000 SLM CORPORATION SECURITIES COM STK USD0.20 78442P106 $ 862 21,295 X 21,295 SMITHFIELD FOODS COM STK USD0.50 832248108 $ 1,489 50,663 X 50,663 SMURFIT-STONE CONTAINER CORP COM STK USD0.01 832727101 $ 1,352 67,773 X 67,773 SOLECTRON CORP COM STK USD0.001 834182107 $ 97 14,998 X 14,998 SONIC SOLUTIONS COM STK NPV 835460106 $ 3,595 168,510 X 168,510 SOUTH FINANCIAL GROUP COM STK USD1 837841105 $ 258 9,101 X 9,101 SOUTHERN CO COM STK USD5 842587107 $ 825 28,286 X 28,286 SOUTHTRUST CORP COM STK US$2.50 844730101 $ 223 5,758 X 5,758 SOUTHWEST AIRLINES CO COM STK USD1 844741108 $ 1,871 111,443 X 111,443 SPRINT CORP COM STK USD2.00 852061100 $ 907 51,554 X 51,554 ST PAUL TRAVELERS COMPANIES INC COM NPV 792860108 $ 582 14,353 X 14,353 ST.JUDE MEDICAL INC COM STK USD0.10 790849103 $ 1,536 20,413 X 20,413 STAPLES INC COM STK USD0.0006 855030102 $ 619 21,094 X 21,094 STARBUCKS CORPORATION COM USD0.001 855244109 $10,841 250,999 X 250,999 STARWOOD HOTELS & RESORTS PAIRED CERTS WORLDWIDE CLASS'B' USD0.01 85590A203 $ 2,263 50,895 X 50,895 STATE STREET CORP COM STK USD1 857477103 $ 283 5,774 X 5,774 STRYKER CORP COM STK USD0.10 863667101 $10,311 188,106 X 188,106 SUN MICROSYSTEMS INC COM STK USD0.00067 866810104 $ 441 101,738 X 101,738 SUNOCO INC COM STK USD1 86764P109 $ 2,886 45,765 X 45,765 SUNTRUST BANKS COM STK USD1 867914103 $ 312 4,805 X 4,805 SUPERVALU INC COM USD1 868536103 $ 1,280 41,770 X 41,770 SYBASE INC COM STK USD0.001 871130100 $ 707 39,301 X 39,301 SYMANTEC CORP COM STK USD0.01 871503108 $ 849 19,384 X 19,384 SYMBION INC COM USD0.01 871507109 $ 1,884 108,534 X 108,534 SYNNEX CORP COM USD0.001 87162W100 $ 437 27,200 X 27,200 SYNTHES INC CHF0.001(POST SUB) 87162M409 $10,202 71,470 X 71,470 SYSCO CORP COM STK USD1 871829107 $ 1,270 35,449 X 35,449 TAIWAN SEMICONDUCTOR ADS(EACH REP 5 ORD MANUFACTURING TWD10-DTC) 874039100 $10,945 1,330,578 X 1,330,578 TARGET CORP COM USD0.0833 87612E106 $10,986 259,550 X 259,550 TEEKAY SHIPPING CORP COM STK USD0.001 Y8564W103 $ 1,953 52,597 X 52,597 TELE CELULAR ADR(EACH REP 2500 PARTICIPACOES PRF NPV -DTC) 87952L108 $ 186 24,000 X 24,000 TELE NORTE LESTE ADR(EACH REP 1000 PARTICIPACOES PRF NPV BNY-DTC) 879246106 $10,265 820,506 X 820,506 TELECOMUNICACOES DE SAO ADR(EACH REP 1000 PAULO-TELES PRF NPV-DTC) 87929A102 $ 246 16,600 X 16,600

Page 9 TELEFONOS DE ADS(EACH CNV INTO MEXICO SA DE CV 20SER'L'SHS-DTC) 879403780 $ 5,397 163,200 X 163,200 TELEPHONE & DATA SYSTEMS INC COM STK USD0.01 879433100 $ 272 3,817 X 3,817 TELVUE CORP. COMMON STOCK 87970K108 $ 6 180,000 X 180,000 TEMPLE-INLAND INCORPORATED COM USD1 879868107 $ 1,683 24,325 X 24,325 TENET HEALTHCARE COM USD0.05 88033G100 $10,162 790,979 X 790,979 TEVA PHARMACEUTICAL ADR(EACH CNV 1 ORD INDUSTRIES ILS0.10-DTC) 881624209 $ 3,184 47,222 X 47,222 TEXAS INSTRUMENTS COM USD1 882508104 $ 6,022 249,809 X 249,809 THERMO ELECTRON CORP COM STK USD1 883556102 $ 342 11,286 X 11,286 TIME WARNER INC COM STK USD0.01 887317105 $ 3,258 185,703 X 185,703 TJX COS INC COM USD1 872540109 $ 209 8,639 X 8,639 TNS INC COM USD0.001 872960109 $ 1,831 83,510 X 83,510 TOLL BROS INC COM STK USD0.01 889478103 $ 6,417 154,400 X 154,400 TORCHMARK CORP COM STK USD1 891027104 $ 344 6,389 X 6,389 TRANSACTION SYSTEMS CLASS'A'COM STK ARCHITECTS INC USD0.005 893416107 $ 1,657 77,204 X 77,204 TRINTECH GROUP ADR REP 2 ORD IEP0.0027 896682200 $ 2,583 516,690 X 516,690 TV AZTECA ADS(EACH 1 REP 16 ORD PTG CRTS-DTC) 901145102 $ 1,431 165,600 X 165,600 TXU CORP COM NPV 873168108 $ 1,263 31,230 X 31,230 TYCO INTERNATIONAL LTD COM STK USD0.20 902124106 $21,066 637,858 X 637,858 UCBH HLDGS CO COM STK USD0.01 90262T308 $ 6,946 174,200 X 174,200 UNION PACIFIC CORP COM STK USD2.50 907818108 $ 256 4,303 X 4,303 UNISYS CORP COM STK USD0.01 909214108 $ 3,556 256,192 X 256,192 UNITED HEALTHCARE GROUP COM STK USD0.01 91324P102 $ 6,040 97,520 X 97,520 UNITED MICROELECTRONICS ADS (ACH REP 5 ORD CORP TWD10-DTC) 910873207 $ 3,732 868,500 X 868,500 UNITED PARCEL SERVICE INC CLASS'B'COM STK 911312106 $ 730 9,717 X 9,717 UNITED TECHNOLOGIES CORP COM STK USD1 913017109 $11,871 130,950 X 130,950 UNITEDGLOBAL COM CLASS'A'COM STK USD0.01 913247508 $ 7,658 1,063,340 X 1,063,340 UNIVERSAL TECHNICAL INSTITUTE COM USD0.0001 913915104 $ 1,777 45,206 X 45,206 US BANCORP DELAWARE COM STK USD0.01 902973304 $ 3,740 135,952 X 135,952 US PHYSICAL THERAPY COM STK USD0.01 90337L108 $ 1,494 109,046 X 109,046 VALERO ENERGY CORP(NEW) COM STK USD0.01 91913Y100 $ 615 8,339 X 8,339 VCA ANTECH INC COM STK USD0.001 918194101 $ 2,693 60,676 X 60,676 VCGA III B RED PREF 9100503 $ 377 12,300 X 12,300 VENCAP 7 LLC ORD USD 9071449 $ 6,956 2,000,000 X 2,000,000 VENCAP 9 LLC II LLC CLASS 'B' USD 9089301 $ 5,747 2,000,000 X 2,000,000 VENCAP SYNDICATION TRUST CLASS 121202 9128204 $ 4,728 8,000,000 X 8,000,000 VENTANA MEDICAL SYSTEMS COM USD0.001 92276H106 $ 1,334 28,000 X 28,000 VERITAS SOFTWARE COM STK USD0.001 923436109 $ 677 24,384 X 24,384 VERIZON COMMUNICATION COM STK USD0.10 92343V104 $ 6,604 182,885 X 182,885 VF CORPORATION COMMON NPV 918204108 $ 2,701 55,425 X 55,425 VIACOM INC NON VTG COM STK US$0.01 CLASS'B' 925524308 $ 2,279 64,272 X 64,272 VIMPEL ADR(EACH 4 CNV 3 ORD COMMUNICATIONS RUR5-DTC) 68370R109 $ 7,631 79,700 X 79,700 VULCAN MATERIALS CO COM STK US$1 929160109 $ 441 9,266 X 9,266 WACHOVIA CORP COM USD3.333 1/3 929903102 $15,608 350,985 X 350,985 WAL-MART STORES COM USD0.10 931142103 $12,067 229,474 X 229,474 WALGREEN COMPANY COM USD0.078125 931422109 $ 719 19,857 X 19,857 WALT DISNEY(HLDG)COMPANY COM STK USD0.01 254687106 $ 1,949 76,447 X 76,447 WASHINGTON MUTUAL INC COM NPV 939322103 $ 741 19,185 X 19,185 WASTE MANAGEMENT COM STK USD0.01 94106L109 $ 450 14,679 X 14,679 WEBZEN INC SPONS ADR EACH REP 1/10 KRW500 94846M102 $ 866 122,000 X 122,000 WELLCHOICE INC COM USD0.01 949475107 $ 1,777 42,929 X 42,929 WELLPOINT HEALTH NETWORK INC COM STK USD0.01 94973H108 $ 893 7,999 X 7,999 WELLS FARGO & CO COM STK USD1 2/3 949746101 $ 7,161 125,067 X 125,067

Page 10 WESTN GAS RESOURCE COM USD0.10 958259103 $ 276 8,512 X 8,512 WEYERHAEUSER CO COM STK USD1.25 (US-EX) 962166104 $ 239 3,780 X 3,780 WHIRLPOOL CORP COM STK USD1 963320106 $ 936 13,737 X 13,737 WILLIAMS COMPANIES INC COM STK US$1 969457100 $ 473 39,752 X 39,752 WILLIAMS-SONOMA IN COM USD0.01 969904101 $ 930 28,597 X 28,597 WRIGLEY(WILLIAM) JUNOIOR CO COM STK NPV 982526105 $ 229 3,631 X 3,631 WYETH COM USD0.333 983024100 $ 1,028 28,424 X 28,424 XEROX CORP COM STK USD1 984121103 $ 196 13,530 X 13,530 XILINX INC COM STK US$0.01 983919101 $10,142 309,338 X 309,338 YAHOO INC COM USD0.001 984332106 $ 1,606 44,298 X 44,298 YUM BRANDS INC COM STK NPV 988498101 $ 651 17,492 X 17,492 ZEBRA TECHNOLOGY CLASS'A'COM STK USD0.01 989207105 $ 1,860 21,526 X 21,526 ZIMMER HOLDINGS INC COM STK USD0.01 98956P102 $ 314 3,557 X 3,557 ZIONS BANCORP COM STK NPV 989701107 $ 2,879 46,870 X 46,870

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