Major shareholdings as of December 31, 2004 include:

Domestic Issues:

• Cimarex Energy
  
• Copart
  
• Dawson Geophysical
  
• Denbury Resources
  
• Helmerich & Payne Inc
  
• IBM Corporation
  
• Johnson & Johnson
  
• Merck
  
• Mesabi Trust
  
• Newport
  

Foreign Issues:

• ABB Ltd
  
• Anglo American Corp
  
• Anglogold Ashanti
  
• E.ON AG
  
• Hitachi, Ltd.
  
• Investor AB
  
• Koninklijke Philips Electronics NV
  
• Millea Holdings
  
• Sony Corp
  
• Telefonica de Espana
  

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