HomeMy WebLinkAboutDocumentation_Pension General_Tab 5A_7/29/1998 . BO
CHIC STAGON
O
LOOMIS - SAYLES - 8 - COMPANY, L. P. DETROIT
MILWAUKEE
MINNEAPOLIS-ST.PAUL
g.,, INVESTMENT COUNSEL NEW YORK
• PALM BEACH
PASADENA
SAN FRANCISCO
WASHINGTON
PETER V.VAN BEUREN 4400 PGA BOULEVARD.SUITE 600.PALM BEACH GARDENS.FLORIDA 33410
VICE PRESIDENT AND SENIOR PARTNER (407)775-5880
May 13, 1998
•
Mr. William Kascavelis, Director of Finance Village of Tequesta.
Village of Tequesta
P.O. Box 3273 ! MAY 1 it 1998
Tequesta, Florida 33458-0273
Village Manager's Office
Re: Village of Tequesta Employees' Pension Trust Fund
Dear Bill:
Enclosed is the April 30, 1998 investment appraisal of the Village of Tequesta Employees'
Pension Trust Fund. I am also enclosing a statement of security.transactions reflecting changes
that occurred during the month of April.
As of this date, we have not received any proxies to vote regarding securities held in this
portfolio. Since this is a very active period for proxy voting,I am suspicious that maybe the
channels have not been properly set up for us to receive the proxies. If we do not receive a proxy
report within the next two weeks, we will check the instructions to see what is holding them up.
. The financial markets continue ebullient with long term interest rates moving above and below
the 6.0% level and the stock market as measured by the Dow Jones surging over the 9,000 level
and then retreating below that figure. Federal Reserve watching continues to be the "game" in •
town and there appears to be a lot of nervousness among investors.
At this point, we continue to be relatively optimistic concerning the near to intermediate term
outlook for financial markets and expect to be substantially invested throughout this period. The
economic environment continues to be good with historically low inflation and interest rates
along with good strength in corporate earnings and consumer demand. Valuations are admittedly
quite high from a historic perspective so that the prudent course of action is to be cautious and
alert.
Should you have any questions concerning the enclosed statements or any other matter, please
give me a call. With best regards.
Sincerely yours,
PVVB:jb
Encl.
PURCHASE AND SALE REPORT
TEQUESTA EMPL PEN TR FD EQUITIES 04/01/98 Thru 04/30/98
TRANS SECURITY TRAN GAIN/
DATE UNITS DESCRIPTION PRICE AMOUNT (LOSS)
--- PURCHASES ---
04/07/98 250 TELLABS INC 65.720 16,430.00
* TOTAL * 16,430.00
--- SALES ---
04/07/98 250 MGIC INVT CO 61 3/4 15,381.98 826.98 S
* TOTAL * 15,381.98 826.98
-, 41-
SUMMARY OF INVESTMENT POSITION
HOLDINGS AS OF 04/30/98
NO . 4806P3 VILLAGE OF TEQUESTA PRICED AS OF 04/30/98
EMPLOYEES' PENSION TRUST FUND RUN AS OF 05/06/98
ESTIMATED
TOTAL X ANNUAL CURR
CLASSIFICATION MARKET VALUE TOTAL FUND INCOME YIELD
FIXED-INCOME HOLDINGS
CASH & EQUIVALENT 94,292 11 . 6 4,788 5 . 1
STRAIGHT BONDS 326,428 40 . 0 20 ,879 6 . 4
TOTAL FIXED-INCOME 420 ,720 51 . 6 25,667 6 . 1
EQUITY HOLDINGS
CAPITAL GOODS 38, 188 4 . 7 384 1 . 0
COMMUNICATION SERVICES 33,290 4 . 1 894 2 . 7
CONSUMER CYCLICALS 29,816 3 . 7 50 .2
CONSUMER STAPLES 62,335 7 . 6 619 1 . 0
ENERGY 15,825 1 . 9 456 2 . 9
FINANCIALS 71 ,225 8 . 7 978 1 . 4
HEALTH CARE 54,726 6 . 7 394 . 7
TECHNOLOGY 89,907 11 . 0 72 . 1
TOTAL EQUITY 395,312 48.4 3,847 1 . 0
TOTAL PRINCIPAL . 816,032 100 . 0 29,514 3 . 6
ACCRUED INCOME 6,095
TOTAL FUND 822,127
LOOMIS, SAYLES &COMPANY.L.P.
PORTFOLIO DIVERSIFICATION
HOLDINGS AS OF 04/30/98
NO. 4806P3 VILLAGE OF TEQUESTA PRICED AS OF 04/30/98
EMPLOYEES' PENSION TRUST FUND RUN AS OF 05/06/98
PAGE A
' TOTAL % ESTIMATED
TOTAL MARKET % TOTAL ANNUAL CURR
CLASSIFICATION COST VALUE SECTOR FUND INCOME YIELD
FIXED-INCOME HOLDINGS
CASH & EQUIVALENT 94,292 94,292 22 . 4 11 . 6 4 ,788 5 . 1
SHORT TERM BONDS 150 ,978 151 , 136 35 . 9 18 . 5 9 ,676 6 . 4
MEDIUM TERM BONDS 149,454 150 ,343 35 . 7 18 . 4 9 ,383 6 . 2
LONG TERM BONDS 24,953 24,949 5 . 9 3 . 1 1 ,820 7 . 3
TOTAL FIXED-INCOME 419,677 420 ,720 100 . 0 51 . 6 25, 667 6 . 1
EQUITY HOLDINGS
CAPITAL GOODS
ELECTRICAL EQUIPMENT 14,118 17 ,038 4 .3 2 . 1 240 1 . 4
MANUFACTURING-DVSFD 15,730 21 , 150 5 . 4 2 . 6 144 . 7
TOTAL 29,848 38, 188 9 . 7 4 . 7 384 1 . 0
COMMUNICATION SERVICES
TELEPHONE 28,413 33,290 8 . 4 4 . 1 894 2 . 7
CONSUMER CYCLICALS
RETAIL-GENL MERCHANDISE 12,299 12,394 3 . 1 1 . 5
RETAIL-SPECIALTY 13,977 17,422 4 . 4 2 . 1 50 . 3
TOTAL 26,276 29,816 7 . 5 3 . 7 50 . 2
CONSUMER STAPLES
BEVERAGES 25,673 27,081 6 . 9 3 . 3 270 1 . 0
HOUSEHOLD PRODS-PERS CARE 29,441 35 ,254 8 . 9 4 . 3 349 1 . 0
TOTAL 55,114 62,335 15 . 8 7 . 6 619 1 . 0
ENERGY
OIL & GAS-MAJ INTEGRATED 14,505 15,825 4 . 0 1 . 9 456 2 . 9
LOOMIS, SAYLES &COMPANY. L.P.
}
PORTFOLIO DIVERSIFICATION
NO . 4806P3 HOLDINGS AS OF 04/30/98
VILLAGE OF TEQUESTA PRICED AS OF 04/30/98
EMPLOYEES' PENSION TRUST FUND RUN AS OF 05/06/98
PAGE B
TOTAL % ESTIMATED
TOTAL MARKET % TOTAL ANNUAL 'CURR
CLASSIFICATION COST VALUE SECTOR FUND INCOME YIELD
FINANCIALS
BANKS 8 THRIFTS 28,417 34,906 8 . 8 4 . 3 540 1 . 6
FINANCIAL-CONSUMER/DVSFD 14,755 17,963 4 .5 2 . 2 288 1 . 6
INSURANCE 15,143 18,356 4. 6 2 . 2 150 . 8
TOTAL 58,315 71 ,225 18. 0 8 . 7 978 1 . 4
HEALTH CARE
HEALTH CARE-DRUGS 24 ,498 38,826 9 .8 4 .8 328 . 9
HEALTH CARE-MED PROP/SUP 15,655 15,900 4 . 0 1 . 9 66 . 4
TOTAL 40 ,153 54,726 13 . 8 6 . 7 394 . 8
• TECHNOLOGY
COMMUNICATIONS EQUIPMENT 29,657 40 ,594 10 . 3 5 . 0 48 . 1
COMPUTERS-HARDWARE 25 ,586 33,150 8.4 4 . 1
ELECTRONICS 17,782 16,163 4 . 1 2 . 0 24 . 1
TOTAL 73,025 89,907 22 . 7 11 . 0 72 . 1
TOTAL EQUITY 325,649 395,312 100 . 0 48 . 4 3,847 1 . 0
TOTAL PRINCIPAL 745,326 816,032 100 . 0 100 . 0 29,514 3 . 6
ACCRUED INCOME 6,095
TOTAL FUND 822,127
LOOMIS, SAYLES &COMPANY. L.P.
HOLDINGS AS OF 04/30/98
NO . 4806P3 VILLAGE OF TEQUESTA PRICED AS OF 04/30/98
EMPLOYEES' PENSION TRUST FUND RUN AS OF 05/06/98
PAGE 1
AVERAGE INCOME ESTIMATED
SHARES/ UNIT TOTAL MARKET MARKET RATE/ ANNUAL CURR
AMOUNT SECURITY DESCRIPTION COST COST PRICE VALUE YTM INCOME YIELD
FIXED-INCOME HOLDINGS
94292 SHORT-TERM PAPER MONEY MARKET 94,292 94,292 5 . 078 4 , 788 5 . 1
SHORT TERM BONDS
25M IBM CREDIT CORP MTN 100 . 217 25,054 100 . 183 25 ,046 6 . 114 1 ,550 6 . 2
6 . 200 08/28/2000 NC
25M FEDERAL HM LN MTG DEBS 100 . 000 25,000 100 . 844 25 ,2.11 6 . 338C 1 ,676 6 . 6
6 . 705 11/09/2005-00 C
25M U S TREASURY NTS 100 . 375 25,094 100 . 312 25,078 5 . 617 1 ,438 5 . 7
5 . 750 11/15/2000 NC
25M FEDERAL HM LN MTG CORP 101 . 727 25 ,432 101 . 203 25,301 6 .306C 1 ,693 6 . 7
6 . 770 03/15/2006-01 C
25M FEDERAL NAIL MTG ASSN MTN 101 .590 25,398 102 . 000 25,500 6 . 611C 1 ,788 7 . 0
7 . 150 08/27/2012-02 C _
25M FEDERAL NAIL MTG ASSN 100 . 000 25,000 100 . 000 25,000 6 . 125 1 ,531 6 . 1
6 . 125 12/19/2002-00 C
TOTAL 150 ,978 151 , 136 9 , 676 6 . 4
MEDIUM TERM BONDS
25M U S TREASURY NTS 100 . 438 25,109 100 .312 25,078 5 . 681 1 ,438 5 . 7
5. 750 08/15/2003 NC
25M AMERITECH CAPITAL FUNDING 99 . 123 24,781, 100 . 158 25,040 6 . 270 1 ,575 6 .3
6 . 300 10/15/2004
25M FEDERAL NAIL MTG ASSN 100 . 000 25,000 99 . 859 24, 965 6 . 326 1 ,575 6 . 3
6 . 300 12/20/2004-00
25M FEDERAL HM LN BK SER GJO6 98. 688 24,672 101 .281 25,320 6 . 047 1 ,560 6 . 2
6 .240 12/11/2006 NC
25M BANKERS TRUST NY CORP SUB NTS 99 .567 24,892 100 . 981 25,245 6 .559 1 ,675 6 . 6
6 . 700 10/01/2007 NC
LOOMIS, SAYLES &COMPANY, L.P.
HOLDINGS AS OF 04/30/98
NO . 4806P3 VILLAGE OF TEQUESTA PRICED AS OF 04/30/98
EMPLOYEES' PENSION TRUST FUND RUN AS OF 05/06/98
PAGE 2
AVERAGE INCOME ESTIMATED
SHARES/ UNIT TOTAL MARKET MARKET RATE/ ANNUAL CURR
AMOUNT SECURITY DESCRIPTION COST COST PRICE VALUE YTM INCOME YIELD
25M FEDERAL NATL MTG ASSN MTN 100 . 000 25,000 98 . 781 24 ,695 6 . 410 1 ,560 6 . 3
6 . 240 01/29/2008-03 C
TOTAL 149,454 150 ,343 9,383 6 . 2
LONG TERM BONDS
25M FEDERAL HM LN BK 99 . 813 24 ,953 99 . 797 24, 949 7 . 303 1 ,820 7 . 3
7 . 280 12/04/2012-98 C
TOTAL FIXED-INCOME 419,677 420 ,720 - 25, 667 6 . 1
EQUITY HOLDINGS
CAPITAL GOODS
ELECTRICAL EQUIPMENT
200 GENERAL ELEC 70 .588 14, 118 85 . 188 17,038 1 .200 240 1 . 4
MANUFACTURING-DVSFD
300 ILLINOIS TOOL WORKS INC 52 .433 15,730 70 . 500 21 , 150 . 480 144 . 7
TOTAL CAPITAL GOODS 29,848 38, 188 384 1 . 0
COMMUNICATION SERVICES
TELEPHONE
150 BELL ATLANTIC CORP 81 . 554 12,233 93 .563 14, 034 3 . 080 462 3 . 3
300 BELLSOUTH CORP 53 . 933 16,180 64 . 188 19,256 1 . 440 432 2 . 2
TOTAL 28,413 33,290 894 2 . 7
LOOMIS, SAYLES &COMPANY. L.P.
t,tt 1 f ar`'
)
HOLDINGS AS OF 04/30/98
NO . 4806P3 VILLAGE OF TEQUESTA PRICED AS OF 04/30/98
EMPLOYEES' PENSION TRUST FUND RUN AS OF 05/06/98
PAGE 3
AVERAGE INCOME ESTIMATED
SHARES/ UNIT TOTAL MARKET MARKET RATE/ ANNUAL CURR
AMOUNT SECURITY DESCRIPTION COST COST PRICE VALUE YTM INCOME YIELD
CONSUMER CYCLICALS
RETAIL—GENL MERCHANDISE
300 KOHLS CORP 40 . 996 12,299 41 . 313 12,394
RETAIL-SPECIALTY
250 HOME DEPOT 55 . 908 13,977 69 . 688 17,422 .200 50 . 3
TOTAL CONSUMER CYCLICALS 26,276 29,816 50 . 2
CONSUMER STAPLES
BEVERAGES
200 COCA COLA 68 .463 13,693 75 . 875 15,175 . 600 120 . 8
300 PEPSICO INC 39 . 933 11 ,980 39 . 688 11 ,906 . 500 150 1 .3
TOTAL 25,673 27,081 270 1 . 0
HOUSEHOLD PRODS—PERS CARE
200 COLGATE PALMOLIVE 72 .400 14,480 89 . 688 17,938 1 . 100 220 1 . 2
150 GILLETTE CO 99 . 742 14,961 115 . 438 17,316 . 860 129 . 7
TOTAL 29,441 35,254 349 1 . 0
TOTAL CONSUMER STAPLES 55, 114 62,335 619 1 . 0
LOOMIS, SAYLES &COMPANY. L.P.
~) _
HOLDINGS AS OF 04/30/98
NO . 4806P3 VILLAGE OF TEQUESTA PRICED AS OF 04/30/98
EMPLOYEES' PENSION TRUST FUND RUN AS OF 05/06/98
PAGE 4
AVERAGE INCOME ESTIMATED
SHARES/ UNIT TOTAL MARKET MARKET RATE/ ANNUAL CURR
AMOUNT SECURITY DESCRIPTION COST COST PRICE VALUE YTM INCOME YIELD
ENERGY
OIL & .GAS-MAJ INTEGRATED
200 MOBIL CORP 72 . 525 14,505 79 . 125 15,825 2 . 280 456 2 . 9
FINANCIALS
BANKS & THRIFTS
400 NORWEST CORP 32 . 794 13, 118 39 . 875 15,950 . 660 264 1 . 7
300 STAR BANC CORP 50 . 996 15,299 63 . 188 18,956 . 920 276 1 . 5
TOTAL 28,417 34,906 540 1 . 6
FINANCIAL-CONSUMER/DVSFD
300 FANNIE MAE 49 . 183 14,755 59 . 875 17,963 . 960 288 1 . 6
INSURANCE
300 TRAVELERS GROUP INC 50 . 475 15, 143 61 . 188 18,356 . 500 150 . 8
TOTAL FINANCIALS 58,315 71 ,225 978 1 . 4
HEALTH CARE-
HEALTH CARE-DRUGS
200 PFIZER INC 64 . 025 12 ,805 113 . 813 22,763 . 760 152 . 7
200 SCHERING-PLOUGH 58 . 463 11 ,693 80 .313 16,063 . 880 176 1 . 1
TOTAL 24,498 38,826 328 . 9
LOOMIS, SAYLES &COMPANY, L.P.
HOLDINGS AS OF 04/30/98
NO . 4806P3 VILLAGE OF TEQUESTA PRICED AS OF 04/30/98
EMPLOYEES' PENSION TRUST FUND RUN AS OF 05/06/98
PAGE 5
AVERAGE INCOME ESTIMATED
SHARES/ UNIT TOTAL MARKET MARKET RATE/ ANNUAL CURR
AMOUNT SECURITY DESCRIPTION COST COST PRICE VALUE YTM INCOME YIELD
HEALTH CARE-MED PROP/SUP
300 MEDTRONIC INC 52 . 183 15,655 53 . 000 15 ,900 . 220 66 . 4
TOTAL HEALTH CARE 40 , 153 54,726 394 . 7
TECHNOLOGY
COMMUNICATIONS EQUIPMENT
300 LUCENT TECHNOLOGIES INC 44 . 090 13,227 76 . 250 22,875 . 160 48 . 2
250 TELLABS INC 65 . 720 16,430 70 . 875 17 ,719
TOTAL 29, 657 40 ,594 48 . 1
COMPUTERS-HARDWARE
200 CISCO SYSTEMS INC 65 . 213 13,043 73 . 250 14 , 650
400 EMC CORP 31 . 356 12,543 46 . 250 18,500
TOTAL 25,586 33, 150
ELECTRONICS
200 INTEL CORP 88 . 909 17,782 80 . 813 16,163 . 120 24 . 1
TOTAL TECHNOLOGY 73 ,025 89,907 72 . 1
TOTAL EQUITIES 325,649 395 ,312 3 ,847 1 . 0
LOOMIS. SAYLES &COMPANY. i._P_
NO. 4806P3 HOLDINGS AS OF 04/30/98
VILLAGE OF TEQUESTA PRICED AS OF 04/30/98
EMPLOYEES' PENSION TRUST FUND RUN AS OF 05/06/98
PAGE 6
AVERAGE INCOME ESTIMATED
SHARES/ UNIT TOTAL MARKET MARKET RATE/ ANNUAL CURR
AMOUNT SECURITY DESCRIPTION COST COST PRICE VALUE YTM INCOME YIELD
TOTAL PRINCIPAL 745,326 816, 032 29,514 3 . 6
ACCRUED INCOME 6,095
TOTAL FUND 822, 127
LOOMIS. SAYLES &COMPANY. L.P.
BOSTON
CHICAGO
LOOMIS - SAY LES - F3 - CO M PAN Y, L. P. MILWAUKEETROIT
MINNEAPOLIS-ST.PAUL
INVESTMENT COUNSEL NEWYORK
PALM BEACH
PASADENA
SAN FRANCISCO
WASHINGTON
PETER V. VAN BEUREN I 4400 PGA BOULEVARD,SUITE 600,PALM BEACH GARDENS,FLORIDA 33410
VICE PRESIDENT AND SENIOR PARTNER (407)775-5880
•
June 10, 1998 Village of Tequesta
Mr. William Kascavelis, Director of Finance
Village of Tequesta `J U N 1 1 1998
P.O. Box 3273
Tequesta,Florida 33458-0273 Village Manager's Office
Re: Village of Tequesta Employees' Pension Trust Fund
Dear Bill: •
We are pleased to enclose the May 31, 1998 investment appraisal of the Village of Tequesta
Employees' Pension Trust Fund. I am also enclosing a statement of security transactions
reflecting changes that occurred in May as well as a proxy report for those companies that had
corporate meetings during the month.
The month of May was rather lackluster when we compare the performance of the financial
markets. Total return for the S&P 500 was a minus 1.7% while the equities in your portfolio
were down 1%. Bonds were up slightly relative to their benchmark.
As we approach the summer months, we expect continued volatility in the equity markets and
possibly sideways trading in the fixed income market. The investment community is trying to
evaluate the economic weakness in the Far East with the impact that it might have on corporate
earnings in the second and third quarters of the year. Inflation remains subdued, interest rates are
level and we are experiencing good economic growth which leads us to believe that we should
see continued strength in financial assets for the balance of this year and hopefully most of 1999.
We plan to keep a watchful eye on the individual investments in the portfolio and if any changes
are required, we will promptly take'care of them.
Should you have any questions or comments concerning the enclosed reports or any other matter,
I would be pleased to hear from you. With best regards.
Sincerely yours,
PVVB:jb
Encl.
cc: Board of Trustees
SUMMARY OF INVESTMENT POSITION
HOLDINGS AS OF 05/31/98
NO . 4806P3 VILLAGE OF TEQUESTA PRICED AS OF 05/29/98
EMPLOYEES' PENSION TRUST FUND RUN AS OF 06/04/98
ESTIMATED
TOTAL % ANNUAL CURR
CLASSIFICATION MARKET VALUE TOTAL FUND INCOME YIELD
FIXED-INCOME HOLDINGS
CASH & EQUIVALENT 30 , 064 3 . 8 1 ,530 5 . 1
STRAIGHT BONDS 378,314 47 . 3 24 ,062 6 . 4
TOTAL FIXED-INCOME 408,378 51 . 1 25,592 6 . 3
•
EQUITY HOLDINGS
CAPITAL GOODS 36 ,475 4 . 6 384 - 1 . 0
COMMUNICATION SERVICES 33 ,094 4 . 1 894 2 . 7
CONSUMER CYCLICALS 33 , 910 4 . 2 60 . 2
CONSUMER STAPLES 62,888 7 . 9 619 1 . 0
ENERGY 15 , 600 2 . 0 456 2 . 9
FINANCIALS •
70 , 169 8 . 8 978 1 .4
HEALTH CARE 54 ,376 6 . 8 394 . 7
TECHNOLOGY 84,449 10 . 6 72 . 1 •
TOTAL EQUITY 390 ,961 48 . 9 3 ,857 1 . 0
TOTAL PRINCIPAL 799,339 100 . 0 29 ,449 3 . 7
ACCRUED INCOME 7, 110 *-
TOTAL FUND 806 ,449
T.nnMTS. SAVT FS i% CCIMPANV. T P
j 1 1 f
PORTFOLIO DIVERSIFICATION
HOLDINGS AS OF 05/31/98
NO . 4806P3 VILLAGE OF TEQUESTA PRICED AS OF 05/29/98
EMPLOYEES' PENSION TRUST FUND RUN AS OF 06/04/98
PAGE A
TOTAL % ESTIMATED
TOTAL MARKET % TOTAL ANNUAL CURR
CLASSIFICATION COST VALUE SECTOR FUND INCOME YIELD
FIXED-INCOME HOLDINGS
CASH & EQUIVALENT 30 ,064 30 ,064 7 . 4 3 . 8 1 ,530 5 . 1
ONE YEAR MATURITIES 24,953 24 ,996 6 . 1 3 . 1 1 , 820 7 . 3
SHORT TERM BONDS 175,978 176 ,579- 43 . 2 22 . 1 11 ,251 6 . 4
MEDIUM -TERM BONDS 174,810 176,739 43 . 3 22 . 1 10 , 991 6 . 2
TOTAL FIXED-INCOME 405 ,805 408,378 100 . 0 51 . 1 25 ,592 6 . 3
EQUITY HOLDINGS
CAPITAL GOODS
ELECTRICAL EQUIPMENT 14 , 118 16,675 4 . 3 2 . 1 240 1 . 4
MANUFACTURING-DVSFD 15 ,730 19,800 5 . 1 2 . 5 144 . 7
TOTAL 29,848 36,475 9 . 3 4 . 6 384 1 . 0
COMMUNICATION SERVICES
TELEPHONE • 28,413 33, 094 8 . 5 4 . 1 894 2 . 7
CONSUMER CYCLICALS
RETAIL-GENL MERCHANDISE 12,299 14,269 3 . 6 1 . 8
RETAIL-SPECIALTY 13 , 977 19,641 5 . 0 2 .5 60 . 3
TOTAL 26 ,276 33, 910 8 . 7 4 . 2 60 . 2
CONSUMER STAPLES
BEVERAGES 25 ,673 27,919 7 . 1 3 . 5 270 1 . 0
HOUSEHOLD PRODS-PERS CARE 29 ,441 34,969 8 . 9 4 . 4 349 1 . 0
TOTAL 55 , 114 62,888 16 . 1 7 . 9 619 1 . 0
ENERGY
OIL & GAS-MAJ INTEGRATED 14,505 15,600 4 . 0 2 . 0 456 2 . 9
LOOMIS. SAYLES &COMPANY. LP_
PORTFOLIO DIVERSIFICATION
HOLDINGS AS OF 05/31/98
NO . 4806P3 VILLAGE OF TEQUESTA PRICED AS OF 05/29/98
EMPLOYEES ' PENSION TRUST FUND RUN AS OF 06/04/98
PAGE B
TOTAL % ESTIMATED
TOTAL MARKET % TOTAL ANNUAL CURR
CLASSIFICATION COST VALUE SECTOR FUND INCOME YIELD
FINANCIALS
BANKS & THRIFTS 28,417 33 ,850 8 . 7 4 . 2 540 1 . 6
FINANCIAL-CONSUMER/DVSFD 14 , 755 17 , 944 4 . 6 2 . 2 288 1 . 6
INSURANCE 15 , 143 18,375 4 . 7 2 . 3 150 . 8
TOTAL 58,315 70 , 169 17 . 9 8 . 8 978 1 . 4
HEALTH CARE
HEALTH CARE-DRUGS 24 ,498 37 , 688 9 . 6 4 . 7 328 . 9
HEALTH CARE-MED PROP/SUP 15 , 655 16 , 688 4 . 3 2 . 1 66 . 4
TOTAL 40 , 153 54 ,376 13 . 9 6 . 8 394 . 7
TECHNOLOGY
COMMUNICATIONS EQUIPMENT 29 ,657 38,461 9 . 8 4 . 8 48 . 1
COMPUTERS-HARDWARE 25 ,586 31 , 700 8 . 1 4 . 0
ELECTRONICS 17 ,782 14,288 3 . 7 1 . 8 24 . 2
TOTAL 73 ,025 84,449 21 . 6 10 . 6 72 . 1
TOTAL EQUITY 325 , 649 390 , 961 100 . 0 48 . 9 3,857 1 . 0
TOTAL PRINCIPAL 731 ,454 799 ,339 100 . 0 100 . 0 29 ,449 3 . 7
ACCRUED INCOME 7 , 110
TOTAL FUND 806,449
•
1nnMTS. SAYT.F.0 t C(IMP ANY. T.P
r
HOLDINGS AS OF 05/31/98
NO . 4806P3 VILLAGE OF TEQUESTA PRICED AS OF 05/29/98
EMPLOYEES' PENSION TRUST FUND RUN AS OF 06/04/98
PAGE 1
AVERAGE INCOME ESTIMATED
SHARES/ UNIT TOTAL MARKET MARKET RATE/ ANNUAL CURR
AMOUNT SECURITY DESCRIPTION COST COST PRICE VALUE YTM INCOME YIELD
FIXED-INCOME HOLDINGS _
30064 SHORT-TERM PAPER MONEY MARKET 30 ,064 30 , 064 5 . 090 1 ,530 5 . 1
ONE YEAR MATURITIES
25M FEDERAL HM LN BK 99 . 813 24 , 953 99 . 984 24,996 7 . 282 1 ,820 7 . 3
7 . 280 12/04/2012-98 C
SHORT TERM BONDS
25M IBM CREDIT CORP MTN 100 . 217 25,054 100 . 310 25 ,078 6 . 050 1 ,550 6 . 2
6 . 200 08/28/2000 NC
25M FEDERAL HM LN MTG DEBS 100 . 000 25 ,000 101 . 031 25 ,258 6 . 244C 1 , 676 6 . 6
6 . 705 11/09/2005-00 C
25M U S TREASURY NTS 100 .375 25 , 094 100 . 422 25, 106 5 . 564 1 ,438 5 . 7
•
5 . 750 11/15/2000 NC
25M FEDERAL NATL MTG ASSN 100 . 000 25 ,000 100 . 141 25, 035 6 . 240C 1 ,575 6 . 3
6 . 300 12/20/2004-00
25M FEDERAL NATL MTG ASSN 100 . 000 25,000 100 . 250 25 ,063 6 . 018C 1 ,531 6 . 1
6 . 125 12/19/2002-00 C
25M FEDERAL HM LN MTG CORP . 101 . 727 25 ,432 101 . 500 25,375 6 . 177C 1 , 693 6 . 7
6 . 770 03/15/2006-01 C
25M FEDERAL NAIL MTG ASSN MTN 101 . 590 25 ,398 102 . 656 25 , 664 6 . 425C 1 ,788 7 . 0
7 . 150 08/27/2012-02 C
TOTAL 175 ,978 176 ,579 11 ,251 6 . 4
T.nClMTC_ SAVTFC RG C~CIMPAT V. T P
r''.4' f`D i... s
HOLDINGS AS OF 05/31/98
NO . 4806P3 VILLAGE OF TEQUESTA PRICED AS OF 05/29/98
EMPLOYEES ' PENSION TRUST FUND RUN AS OF 06/04/98
PAGE 2
AVERAGE INCOME ESTIMATED
SHARES/ UNIT TOTAL MARKET MARKET RATE/ ANNUAL CURR
AMOUNT SECURITY DESCRIPTION COST COST PRICE VALUE YTM INCOME YIELD
MEDIUM TERM BONDS
25M U S TREASURY NTS 100 . 438 25 ,109 100 . 719 25 , 180 5 . 589 1 ,438 5 . 7
5 . 750 08/15/2003 NC
25M AMERITECH CAPITAL FUNDING 99 . 123 24 ,781 100 . 643 25 , 161 6 . 177 1 ,575 6 . 3
6 . 300 10/15/2004
25M FEDERAL HM LN BK SER GJO6 98 . 688 24,672 101 . 953 25,488 5 . 945 1 ,560 6 . 1
6 . 240 12/11/2006 NC
25M PUBLIC SVC ELEC & GAS 1ST REF 100 . 000 25,000 100 . 332 25 ,083 6 . 200 1 ,563 6 . 2
6 . 250 01/01/2007 NC
25M BANKERS TRUST NY CORP SUB NTS 99 . 567 24,892 101 . 801 25,450 6 . 440 1 , 675 6 . 6 -
6 . 700 10/01/2007 NC
25M FEDERAL NAIL MTG ASSN MTN 100 . 000 25,000 99 . 453 24 ,863 6 . 316 1 ,560 6 . 3
6 . 240 01/29/2008-03 C
25M CSX TRANSPORTATION 93—A 101 . 423 25,356 102 . 056 25 ,514 6 . 197 1 , 620 6 . 3
6 . 480 03/15/2008 NC
TOTAL 174,810 176 ,739 10 , 991 6 . 2
TOTAL FIXED—INCOME 405 ,805 408,378 25 ,592 6 . 3
EQUITY HOLDINGS
CAPITAL GOODS
ELECTRICAL EQUIPMENT
200 GENERAL ELEC 70 . 588 14, 118 83 . 375 16 ,675 1 . 200 240 1 . 4
LOOMIS. SAYLES & COMPANY. T._P_
HOLDINGS AS OF 05/31/98
NO . 4806P3 VILLAGE OF TEQUESTA PRICED AS OF 05/29/98
EMPLOYEES' PENSION TRUST FUND RUN AS OF 06/04/98
PAGE 3
AVERAGE INCOME ESTIMATED
SHARES/ UNIT TOTAL MARKET MARKET RATE/ ANNUAL CURR
AMOUNT SECURITY DESCRIPTION COST COST PRICE VALUE YTM INCOME YIELD
MANUFACTURING-DVSFD
300 ILLINOIS TOOL WORKS INC 52 . 433 15 ,730 66 . 000 19 ,800 . 480 144 . 7
TOTAL CAPITAL GOODS 29 ,848 36 ,475 384 1 . 0
COMMUNICATION SERVICES
•
TELEPHONE
150 BELL ATLANTIC CORP 81 . 554 12,233 91 . 625 13 ,744 3 . 080 462 3 . 4
300 BELLSOUTH CORP 53 . 933 16 , 180 64 . 500 19 ,350 1 . 440 432 2 . 2
TOTAL 28,413 33,094 894 2 . 7
CONSUMER CYCLICALS
RETAIL-GENL MERCHANDISE
300 KOHLS CORP 40 . 996 12,299 47 . 563 14 ,269
RETAIL-SPECIALTY
250 HOME DEPOT INC 55 . 908 13 ,977 78 . 563 19 ,641 . 240 60 . 3
TOTAL CONSUMER CYCLICALS 26 ,276 33 , 910 - 60 . 2
CONSUMER STAPLES
BEVERAGES
200 COCA COLA 68 . 463 13,693 78 . 375 15 , 675 . 600 120 . 8
300 PEPSICO INC 39 . 933 11 ,980 40 . 813 12,244 .500 150 1 . 2
TOTAL 25,673 27,919 270 1 . 0
•
I IVIMIS. S A VT FS C`.CIMP A NV T P
f 4
HOLDINGS AS OF 05/31/98
NO . 4806P3 VILLAGE OF TEQUESTA PRICED AS OF 05/29/98
EMPLOYEES' PENSION TRUST FUND RUN AS OF 06/04/98
PAGE 4
AVERAGE INCOME ESTIMATED
SHARES/ UNIT TOTAL MARKET MARKET RATE/ ANNUAL CURR
AMOUNT SECURITY DESCRIPTION COST COST PRICE VALUE YTM INCOME YIELD
HOUSEHOLD PRODS-PERS CARE
200 COLGATE PALMOLIVE 72 . 400 14,480 87 . 000 17 ,400 1 . 100 220 1 . 3
150 GILLETTE CO 99 . 742 14,961 117 . 125 17 ,569 . 860 129 . 7
TOTAL 29,441 34 , 969 349 1 . 0
TOTAL CONSUMER STAPLES 55 , 114 62 , 888 619 1 . 0
ENERGY
OIL & GAS-MAJ INTEGRATED
200 MOBIL CORP 72 .525 14 ,505 78 . 000 15 ,600 2 . 280 456 2 . 9
FINANCIALS
BANKS & THRIFTS
400 NORWEST CORP 32 . 794 13 , 118 38 . 875 15 ,550 . 660 264 1 . 7
300 STAR BANC CORP 50 . 996 15 ,299 61 . 000 18,300 . 920 276 1 . 5
TOTAL 28,417 33 ,850 540 1 . 6
FINANCIAL-CONSUMER/DVSFD
300 FANNIE MAE 49 . 183 14, 755 59 . 813 17 ,944 . 960 288 1 . 6
INSURANCE _
•
300 TRAVELERS GROUP INC 50 . 475 15, 143 61 . 250 18,375 . 500 150 . 8
TOTAL FINANCIALS 58,315 70 , 169 978 1 . 4
LOOMIS. SAYLES &COMPANY. LP.
di]
HOLDINGS AS OF 05/31/98
NO . 4806P3 VILLAGE OF TEQUESTA PRICED AS OF 05/29/98
EMPLOYEES' PENSION TRUST FUND RUN AS OF 06/04/98
PAGE 5
AVERAGE INCOME ESTIMATED
SHARES/ UNIT TOTAL MARKET MARKET RATE/ ANNUAL CURR
AMOUNT SECURITY DESCRIPTION COST COST PRICE VALUE YTM INCOME YIELD
HEALTH CARE
HEALTH CARE-DRUGS
200 PFIZER INC 64 . 025 12,805 104 . 813 20 , 963 . 760 152 . 7
200 SCHERING-PLOUGH 58 . 463 11 , 693 83 . 625 16 ,725 . 880 176 1 . 1
TOTAL 24 ,498 37 , 688 328 . . 9
HEALTH CARE-MED PROP/SUP
300 MEDTRONIC INC 52 . 183 15,655 55 . 625 16 , 688 . 220 66 . 4
TOTAL HEALTH CARE 40 , 153 54,376 394 . 7
TECHNOLOGY
COMMUNICATIONS EQUIPMENT
300 LUCENT TECHNOLOGIES INC 44 . 090 13 ,227 70 . 938 21 ,281 . 160 48 . 2
250 TELLABS INC 65 . 720 16,430 68 . 719 17 , 180
TOTAL 29, 657 38,461 48 . 1
COMPUTERS-HARDWARE
200 CISCO SYSTEMS INC 65 . 213 13 , 043 75 . 625 15 , 125
400 EMC CORP 31 . 356 12,543 41 . 438 16 ,575
TOTAL . 25 ,586 31 , 700
ELECTRONICS
200 INTEL CORP 88 . 909 17,782 71 . 438 14 ,288 . 120 24 . 2
Tnni,T4_ SAVI S 1G CfMPAIVY_ T.P
fi'I r ,
NO . 4806P3 HOLDINGS AS OF 05/31/98
VILLAGE OF TEQUESTA PRICED AS OF 05/29/98
EMPLOYEES ' PENSION TRUST FUND RUN AS OF 06/04/98
PAGE 6
AVERAGE INCOME ESTIMATED
SHARES/ UNIT TOTAL MARKET MARKET RATE/ ANNUAL CURR
AMOUNT SECURITY DESCRIPTION COST COST PRICE VALUE YTM INCOME YIELD
TOTAL TECHNOLOGY 73, 025 84 ,449 72 . 1
TOTAL EQUITIES 325,649 390 ,961 3 ,857 1 . 0
TOTAL PRINCIPAL 731 ,454 799 ,339 29 ,449 3 . 7
ACCRUED INCOME 7 , 110
TOTAL FUND 806 ,449
Loomis. SAYLES &COMPANY. i._P_
o ,
PURCHASE AND SALE REPORT
TEQUESTA EMPL PEN TR FD FIXED 05/01/98 Thru 05/31/98
TRANS SECURITY TRAN
DATE UNITS DESCRIPTION PRICE AMOUNT
---PURCHASES ---
•
•
05/04/98 25,000 CSX TRANSPORTATION 101.423 25,355.75
6.480 3/15/08
05/04/98 25,000 PUBLIC SVC ELEC & GAS 100.000 25,000.00
6.250 1/01/07
* TOTAL * 50,355.75
VOTE SUMMARY
Account Selection 4441P4 Date Range: 5/01/98-5/31/98
Report Date: 5/18/98
' MTG. COMPANY/ RECORD SHARES
DATE/TYPE BALLOT ISSUES CUSIP MRV VOTE DATE VOTED
05/20/98 Intel Corporation 458140100 03/23/98 200
(1)Elect Directors F For
(2)Ratification of Auditors F For
(3)Approve Ceres Principles F For
•
05/21/98 Federal Natl Mort Corp. 313586109 03/30/98 300
(1)Elect Directors F For
(2)Ratification of Auditors F For
(3)Reinstate Cumulative Voting F For
05/27/98 Kohl's Corporation 500255104 04/09/98 300
(1)Elect Directors F For
(2)Ratification of Auditors F For
(3)Proposal Concerning Foreign Suppliers F For
05/27/98 The Home Depot, Inc. 437076102 03/30/98 300
(1)Elect Directors F For
(2)Amendment of Senior Officers'
Bonus Pool Plan F For
(3)Approval of Executive Officers'
Bonus Plan F For
(4)Amendment of Company's Certification
of Incorporation to Increase
Shares F For
(5)Amend Bylaws to Require Majority
of Independent Directors A Against
(6)Proposal to Report on Certain
Employment Matters A Against
Village of Tequesta
y. lti BOSTON
CHICAGO
LOOM I S - S A Y LE S - 8 - COMPANY Utit. 2 1 199$ MDETROIT
IILWAU EE
MINNEAPOLIS-ST.PAUL
INVESTMENT COUNSEL NEW PALM MCA
Village Manager's Office PAA
AN FRANCISCO
WASHINGTON
PETER V. VAN BEUREN 4400 PGA BOULEVARD,SUITE 600.PALM BEACH GARDENS,FLORIDA 33410
VICE PRESIDENT AND SENIOR PARTNER (407) 775-5880
July 17, 1998
Mr. William Kascavelis,Director of Finance
Village of Tequesta
P.O. Box 3273
Tequesta,Florida 33458-0273
Re: Village of Tequesta Employees' Pension Trust Fund
•
Dear Bill:
Earlier in the year, we wrote you that the first quarter of 1998 was then history and that it had
been a splendid ride for those who invested in stocks and did not panic on bad news. Well,the
second quarter is very similar and the words uttered then certainly apply to this quarter. We have
seen good news in one market cause bad news in the other and sector rotation and momentum
investing have played a big part in the swings that have occurred on a regular basis. This has
been a most impressive experience.
The equity statistics for the first half of 1998 are quite surprising—the Dow increased 14.13%,
the S&P up 17.71%while the Merrill Lynch Intermediate Corporate/Government Index
increased 3.51%. These are indeed impressive numbers but there are major concerns that we are
reaching excessive valuations. We have seen bond yields decline approximately 25 basis points.
At the present, the short end of the curve has a higher yield than the ten year area. It is unlikely
that the Fed will alter the rates at the present time given the problems in Asia, Russia and the
strength of the dollar.
During the second quarter we have seen a considerable number of mergers and acquisition ,not
with sub-standard companies, but between major well-financed and managed companies. This
corporate strategy will probably continue resulting in a lower supply of stock available for
purchase. With greater demand from mutual funds,retirement accounts, etc.,we would expect to
experience somewhat higher prices over the coming months.
We are now approaching the earnings report period and it will be during this time that surprises,
whether on the up-side or down-side, will probably create the greatest volatility. We will be
vigilant and realistic on your behalf, but it will also be a time for you to remain calm and not be
reactive to every piece of news.
We expect the bond market to continue in a narrow band although it would seem that the trend is
down and there will be an adjustment in short term rates with the 30 year bond trading between
5.50% and 5.75%.
LOOMIS-SAYLES-t-COMPANY, L.P.
July 17, 1998
So that you may review your portfolio, we are enclosing a copy of the June 30th appraisal as well
as the June statement of transactions. I look forward to being with you at the forthcoming July
29th Pension Committee meeting at which time I plan to review the portfolio in greater detail. I
will be glad to answer any questions you might have at that time.
With best regards. •
Sincerely yours,
w •
PVVB:jb
Encl.
cc: Board of Trustees
L, s/
PURCHASE AND SALE REPORT
TEQUESTA EMPL PEN TR FD FIXED 06/01/98 Thru 06/30/98
TRANS SECURITY TRAN
DATE UNITS DESCRIPTION PRICE AMOUNT
--- PURCHASES ---
06/24/98 25,000 U S TREASURY 99.658 24,914.50
5.375 6/30/03
* TOTAL * 24,914.50
SUMMARY OF INVESTMENT POSITION
•
HOLDINGS AS OF 06/30/98
NO . 4806P3 VILLAGE OF TEQUESTA PRICED AS OF 06/30/98
EMPLOYEES ' PENSION TRUST FUND RUN AS OF 07/07/98
ESTIMATED
TOTAL % ANNUAL CURR
CLASSIFICATION MARKET VALUE TOTAL FUND INCOME YIELD
FIXED-INCOME HOLDINGS
CASH & EQUIVALENT 95,248 10 .5 4,866 5 . 1
STRAIGHT BONDS 404,408 44 . 4 25 ,406 6 . 3
TOTAL FIXED-INCOME - 499,656 54 . 8 30 ,272 6 . 1
EQUITY HOLDINGS
CAPITAL GOODS 38, 181 4 . 2 384 1 . 0
COMMUNICATION SERVICES 33,826 3 . 7 894 2 . 6
CONSUMER CYCLICALS 36,329 4 . 0 60 . 2
CONSUMER STAPLES 64, 119 7 . 0 643 1 . 0
ENERGY 15,325 1 . 7 456 3 . 0
FINANCIALS 70 ,576 7 . 7 978 1 .4
HEALTH CARE 59,188 6 . 5 394 . 7
TECHNOLOGY 94,025 10 . 3 72 . 1
TOTAL EQUITY 411 ,569 45 . 2 3 ,881 1 . 0
TOTAL PRINCIPAL 911 ,225 100 . 0 34, 153 3 . 8
ACCRUED INCOME 5,752
TOTAL FUND 916 ,977
LOOMIS, SAYLES &COMPANY. L.P.
, (,,,
, ,{„h
0
., ,t , .
PORTFOLIO DIVERSIFICATION
HOLDINGS AS OF 06/30/98
NO . 4806P3 VILLAGE OF TEQUESTA PRICED AS OF 06/30/98
EMPLOYEES ' PENSION TRUST FUND RUN AS OF 07/07/98
PAGE A
TOTAL % ESTIMATED
TOTAL MARKET % TOTAL ANNUAL CURR
CLASSIFICATION COST VALUE SECTOR FUND INCOME YIELD
FIXED-INCOME HOLDINGS
CASH & EQUIVALENT 95,248 95,248 19 . 1 10 . 5 4,866 5 . 1
ONE YEAR MATURITIES 24,953 25,035 5 . 0 2 . 7 1 ,820 7 . 3
SHORT TERM BONDS 225,893 226 ,756 45 . 4 24 . 9 14 , 155 6 . 2
MEDIUM TERM BONDS 149,810 152,617 30 . 5 16 . 7 9 ,431 6 . 2
TOTAL FIXED-INCOME 495 ,904 499, 656 100 . 0 54 . 8 30 ,272 6 . 0
EQUITY HOLDINGS
CAPITAL GOODS
ELECTRICAL EQUIPMENT 14, 118 18,175 4 . 4 2 . 0 240 1 . 3
MANUFACTURING-DVSFD 15,730 20 ,006 4 . 9 2 . 2 144 . 7
TOTAL 29,848 38, 181 9 .3 4 . 2 384 1 . 0
COMMUNICATION SERVICES
TELEPHONE 28,413 33,826 8 .2 3 . 7 894 2 . 6
CONSUMER CYCLICALS
RETAIL-GENL MERCHANDISE 12 ,299 15,563 3 . 8 1 . 7
RETAIL-SPECIALTY 13 ,977 20 ,766 5 . 0 2 . 3 60 . 3
TOTAL 26 ,276 36 ,329 8 . 8 4 . 0 60' . 2
CONSUMER STAPLES
BEVERAGES 25 ,673 29,456 7 . 2 3 . 2 270 . 9
HOUSEHOLD PRODS-PERS CARE 29 ,441 34, 663. 8 . 4 3 . 8 373 1 . 1
TOTAL 55 , 114 64 ,119 15 . 6 7 . 0 643 1 . 0
ENERGY
OIL & GAS-MAJ INTEGRATED 14,505 15,325 3 . 7 1 . 7 456 3 . 0
TncIMTs. SAYI.F.S & CCIMPANY. I P
r ( \ i(I
r t ,w
PORTFOLIO DIVERSIFICATION
HOLDINGS AS OF 06/30/98
NO . 4806P3 VILLAGE OF TEQUESTA PRICED AS OF 06/30/98
EMPLOYEES' PENSION TRUST FUND RUN AS OF 07/07/98
PAGE B
TOTAL % ESTIMATED
TOTAL MARKET % TOTAL ANNUAL CURR
CLASSIFICATION COST VALUE SECTOR FUND INCOME YIELD
FINANCIALS
BANKS & THRIFTS 28,417 34 , 163 8 . 3 3 . 7 540 1 . 6
FINANCIAL-CONSUMER/DVSFD 14,755 18,225 4 . 4 2 . 0 288 1 . 6
INSURANCE 15, 143 18, 188 4 . 4 2 . 0 150 . 8
TOTAL 58,315 70 ,576 17 . 1 7 . 7 978 1 . 4
HEALTH CARE
HEALTH CARE-DRUGS 24,498 40 ,063 9 . 7 4 . 4 328 . 8
HEALTH CARE-MED PROP/SUP 15 ,655 19, 125 4 . 6 2 . 1 66 .3
TOTAL 40 ,153 59, 188 14 .4 6 . 5 394 . 6
TECHNOLOGY
COMMUNICATIONS EQUIPMENT 29,657 42 ,862 10 .4 4 . 7 48 . 1
COMPUTERS-HARDWARE 25,586 36,338 8 . 8 4 . 0
ELECTRONICS 17 ,782 14 ,825 3 . 6 1 . 6 24 . 2
TOTAL 73,025 94,025 22 . 8 10 . 3 72 . 1
TOTAL EQUITY 325,649 411 ,569 100 . 0 45 . 2 3 ,881 . 9
TOTAL PRINCIPAL 821 ,553 911 ,225 100 . 0 100 . 0 34 , 153 3 . 7
ACCRUED INCOME 5 ,752
TOTAL FUND 916 ,977
LOOMIS. SAYLES & COMPANY. T.P..
r ,,.1
HOLDINGS AS OF 06/30/98
NO . 4806P3 VILLAGE OF TEQUESTA PRICED AS OF 06/30/98
EMPLOYEES' PENSION TRUST FUND RUN AS OF 07/07/98
PAGE 1
AVERAGE INCOME ESTIMATED
SHARES/ UNIT TOTAL MARKET MARKET RATE/ ANNUAL CURR
AMOUNT SECURITY DESCRIPTION COST COST PRICE VALUE YTM INCOME YIELD
FIXED-INCOME HOLDINGS
95248 SHORT-TERM PAPER MONEY MARKET 95 ,248 95 ,248 5 . 109 4,866 5 . 1
ONE YEAR MATURITIES
25M FEDERAL HM LN BK 99 . 813 24, 953 100 . 141 25 ,035 6 . 941C 1 ,820 7 . 3
7 . 280 12/04/2012-98 C
SHORT TERM BONDS
25M IBM CREDIT CORP MTN 100 .217 25 ,054 100 . 400 25 , 100 6 . 000 1 ,550 6 . 2
6 . 200 08/28/2000 NC
25M FEDERAL HM LN MTG DEBS 100 . 000 25 ,000 101 . 187 25,297 6 . 157C 1 ,676 6 . 6
6 . 705 11/09/2005-00 C
25M U S TREASURY NTS 100 .375 25 ,094 100 . 500 25, 125 5 . 523 1 ,438 5 . 7
5 . 750 11/15/2000 NC
25M FEDERAL NAIL MTG ASSN . 100 . 000 25,000 100 . 437 25 , 109 6 . 107C 1 ,575 6 . 3
6 . 300 12/20/2004-00
25M FEDERAL NAIL MTG ASSN 100 . 000 25,000 100 .328 25 ,082 5 . 980C 1 ,531 6 . 1
6 . 125 12/19/2002-00 C
25M FEDERAL HM LN MTG CORP 101 . 727 25,432 101 . 656 25 ,414 6 . 097C 1 ,693 6 . 7
6 . 770 03/15/2006-01 C
25M FEDERAL NATL MTG ASSN MTN 101 .590 25 ,398 103 . 031 25 ,758 6 . 310C 1 ,788 6 . 9
7 . 150 . 08/27/2012-02 C
25M U S TREASURY NTS 99 . 658 24,915 99 . 609 . 24,902 5 . 465 1 ,344 5 . 4
5 . 375 06/30/2003 NC .
25M FEDERAL NAIL MTG ASSN MTN 100 . 000. 25 ,000 99 . 875 24, 969 6 . 258 1 ,560 6 . 2
6 . 240 01/29/2008-03 C
TOTAL 225 ,893 226,756 14, 155 6 . 2
LOO IS. SAYLES & COMPANY_ T._P_
HOLDINGS AS OF 06/30/98
NO . 4806P3 VILLAGE OF TEQUESTA PRICED AS OF 06/30/98
EMPLOYEES' PENSION TRUST FUND RUN AS OF 07/07/98
PAGE 2
AVERAGE INCOME ESTIMATED
SHARES/ UNIT TOTAL MARKET MARKET RATE/ ANNUAL CURR
AMOUNT SECURITY DESCRIPTION COST COST PRICE VALUE YTM INCOME YIELD
•
MEDIUM TERM BONDS
25M U S TREASURY NTS 100 . 438 25, 109 101 . 062 25,266 5 . 509 1 ,438 5 . 7
5 . 750 08/15/2003 .NC
25M AMERITECH CAPITAL FUNDING 99 . 123 24,781 101 . 141 25 ,285 6 . 079 1 ,575 6 . 2
6 . 300 10/15/2004
25M FEDERAL HM LN BK SER GJO6 98 . 688 24,672 102 . 547 25, 637 5 . 853 1 ,560 6 . 1
6 . 240 12/11/2006 NC
25M PUBLIC SVC ELEC & GAS 1ST REF 100 . 000 25,000 101 . 085 25,271 6 . 085 1 ,563 6 .2
6 . 250 01/01/2007 NC
25M BANKERS TRUST NY CORP SUB NTS 99 . 567 24,892 102 . 151 25,538 6 . 388 1 ,675 6 . 6
6 . 700 10/01/2007 NC
25M CSX TRANSPORTATION 93-A 101 . 423 25,356 102 . 481 25 ,620 6 . 137 1 ,620 6 . 3
6 . 480 03/15/2008 NC
TOTAL 149,810 152 ,617 9,431 6 . 2
TOTAL FIXED-INCOME 495,904 499,656 30 ,272 6 . 1
EQUITY HOLDINGS
CAPITAL GOODS
ELECTRICAL EQUIPMENT
200 GENERAL ELEC 70 . 588 14,118 90 . 875 18, 175 1 . 200 240 1 .3
MANUFACTURING-DVSFD
300 ILLINOIS TOOL WORKS •INC 52 .433 15,730 66 . 688 20 , 006 . 480 144 . 7
LnoMTS. SAYT.F.S & COMPANY. T..P.
(10
HOLDINGS AS OF 06/30/98
NO . 4806P3 VILLAGE OF TEQUESTA PRICED AS OF 06/30/98
EMPLOYEES ' PENSION TRUST FUND RUN AS OF 07/07/98
PAGE 3
AVERAGE INCOME ESTIMATED
SHARES/ UNIT TOTAL MARKET MARKET RATE/ ANNUAL CURR
AMOUNT SECURITY DESCRIPTION COST COST PRICE VALUE YTM INCOME YIELD
TOTAL CAPITAL GOODS 29 ,848 38, 181 384 1 . 0
COMMUNICATION SERVICES
TELEPHONE
300 BELL ATLANTIC CORP 40 . 777 12,233 45 . 625 13 ,688 1 . 540 462 3 . 4
300 BELLSOUTH CORP 53 . 933 16 , 180 67 . 125 20 , 138 1 . 440 432 2 . 1
TOTAL 28,413 33 ,826 894 2 . 6
CONSUMER CYCLICALS ,
RETAIL-GENL MERCHANDISE
300 KOHLS CORP 40 . 996 12,299 51 . 875 15 ,563
RETAIL-SPECIALTY
250 HOME DEPOT INC 55 . 908 13, 977 83 . 063 20 , 766 . 240 60 . 3
TOTAL CONSUMER CYCLICALS 26,276 36 ,329 60 . 2
CONSUMER STAPLES
BEVERAGES
200 COCA COLA 68 . 463 13 , 693 85 .500 17, 100 . 600 120 . 7
300 PEPSICO INC 39 . 933 11 ,980 41 . 188 12,356 . 500 150 1 . 2
TOTAL 25 ,673 29,456 270 . 9
HOUSEHOLD PRODS-PERS CARE
200 COLGATE PALMOLIVE 72 . 400 14,480 88 . 000 17,600 1 . 100 220 1 . 3
300 GILLETTE CO 49 . 871 14,961 56 . 875 17,063 . 510 153 . 9
TOTAL 29,441 34 ,663 373 1 . 1
LOOMIS. SAYLES &COMPANY.LP.
w
HOLDINGS AS OF 06/30/98
NO . 4806P3 VILLAGE OF TEQUESTA PRICED AS OF 06/30/98
EMPLOYEES' PENSION TRUST FUND RUN AS OF 07/07/98
PAGE 4
AVERAGE INCOME ESTIMATED
SHARES/ UNIT TOTAL MARKET MARKET RATE/ ANNUAL CURR
AMOUNT SECURITY DESCRIPTION COST COST PRICE VALUE YTM INCOME YIELD
TOTAL CONSUMER STAPLES 55 , 114 64 , 119 643 1 . 0
ENERGY
OIL & GAS-MAJ INTEGRATED
200 MOBIL CORP 72 . 525 14,505 76 . 625 15 ,325 2 . 280 456 3 . 0
FINANCIALS
BANKS & THRIFTS
400 NORWEST CORP 32 . 794 13, 118 37 . 500 15 ,000 . 660 264 1 . 8
300 STAR BANC CORP . 50 . 996 15,299 63 . 875 19 , 163 . 920 276 1 . 4
TOTAL 28,417 34 , 163 540 1 . 6
FINANCIAL-CONSUMER/DVSFD
300 FANNIE MAE 49 . 183 14,755 60 . 750 18 ,225 . 960 288 1 . 6
INSURANCE
300 TRAVELERS GROUP INC 50 . 475 15 , 143 60 . 625 18, 188 . 500 150 . 8
TOTAL FINANCIALS 58,315 70 ,576 978 1 . 4
HEALTH CARE
HEALTH CARE-DRUGS
200 PFIZER INC 64 . 025 12,805 108 . 688 21 ,738 . 760 152 . 7
200 SCHERING-PLOUGH 58 . 463 11 ,693 91 . 625 18 ,325 . 880 176 1 . 0
TOTAL 24,498 40 , 063 328 . 8
LOOMTS_ SAVT.F.S & CnMPANV. T.P
ilk
HOLDINGS AS OF 06/30/98
NO . 4806P3 VILLAGE OF TEQUESTA PRICED AS OF 06/30/98
EMPLOYEES' PENSION TRUST FUND RUN AS OF 07/07/98
PAGE 5
AVERAGE INCOME ESTIMATED
SHARES/ UNIT TOTAL MARKET MARKET RATE/ ANNUAL CURR
AMOUNT SECURITY DESCRIPTION COST COST PRICE VALUE YTM INCOME YIELD
HEALTH CARE-MED PROP/SUP
300 MEDTRONIC INC 52 . 183 15,655 63 . 750 19 , 125 . 220 66 .3
TOTAL HEALTH CARE 40 , 153 59, 188 394 . 7
TECHNOLOGY
COMMUNICATIONS EQUIPMENT
300 LUCENT TECHNOLOGIES INC 44 . 090 13,227 83 . 188 24,956 . 160 48 . 2
250 TELLABS INC 65 . 720 16,430 71 . 625 17, 906
TOTAL 29 ,657 42,862 48 . 1
COMPUTERS-HARDWARE
200 CISCO SYSTEMS INC 65 . 213 13,043 92 . 063 18,413
400 EMC CORP 31 . 356 12,543 44 . 813 17 , 925
TOTAL 25,586 36 ,338
ELECTRONICS
200 INTEL CORP 88 . 909 17,782 74 . 125 14,825 . 12.0 24 .2
TOTAL TECHNOLOGY 73 ,025 94,025 72 . 1
TOTAL EQUITIES 325,649 411 ,569 3 ,881 . 9
LOOMIS. SAYLES &COMPANY.LP.
HOLDINGS AS OF 06/30/98
NO . 4806P3 VILLAGE OF TEQUESTA PRICED AS OF 06/30/98
EMPLOYEES ' PENSION TRUST FUND RUN AS OF 07/07/98
PAGE 6
•
AVERAGE INCOME ESTIMATED
SHARES/ UNIT TOTAL MARKET MARKET RATE/ ANNUAL CURR
AMOUNT SECURITY DESCRIPTION COST COST PRICE VALUE YTM INCOME YIELD
TOTAL PRINCIPAL 821 ,553 911 ,225 34 , 153 3 . 7
ACCRUED INCOME 5 ,752
TOTAL FUND 916 , 977
•
LOOMIS. SAYLES &COMPANY. EP_