13F-HR 1 e14137_13fhr.txt QUARTERLY REPORT UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 13F Form 13F Cover Page Report for the Calendar Year or Quarter Ended: December 31, 2002 Check here if Amendment [ ]; Amendment Number: _____ This Amendment (Check only one): [ ] is a restatement. [ ] adds new holding entries. Institutional Investment Manager filing this Report: Name: Whitehall Asset Management, Inc. Address: 320 Park Ave 10th Floor NY, NY 10022 13F File Number: 28-_______ The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form. Person Signing this Report on Behalf of Reporting Manager: Name: Marc Keller Title: Chief Investment Officer Phone: 212-508-3306 Signature, Place, and Date of Signing: /s/ Marc Keller New York, NY -------------------- ------------ -------- Marc Keller [City, State] [Date] Report Type (Check only one.): [X] 13F HOLDINGS REPORT. [ ] 13F NOTICE. [ ] 13F COMBINATION REPORT. List of Other Managers Reporting for this Manager: [If there are no entries in this list, omit this section] Form 13F File Number Name 28-__________ /s/ Marc Keller [Repeat as neccessary.] --------------- 3 13F REPORT AS OF 12/31/02 WHITEHALL ASSET MANAGEMENT DATE: 12/31/02

ITEM 1 ITEM 2 ITEM 3 ITEM 4 ITEM 5 ITEM 6 ITEM 7 ITEM 8 FAIR INVESTMENT VOTING AUTHORITY FAIR INVESTMENT ~~(SHARES)~~AUTHORITY MARKET SH/PRN ~~PUT/~~ DISCRETION (ASHARES) ~~(B) (C)~~ ISSUER CLASS SECID VALUE AMOUNT SH/PRN PUT/CALL TYPE MGRS (A)SOLE (B)SHARED (C)NONE ------ ----- ------ ------- ------~~----~~ -------- ------ --~~----~~ ----- ----~~------~~ ------ --------- ------~~--------~~ AOL TIME WARNER INC COM 00184A105 ~~4199352~~4671054 ~~358919~~356569 SH SOLE ~~65057~~63707 0 ~~278862~~277862 AOL TIME WARNER INC COM 00184A105 ~~4199352~~4671054 ~~358919~~356569 SH DEFINED 15000 0 0 ~~AT&T CORP COM 1957109 138824 11559 SH SOLE 10397 0 568 AT&T CORP COM 1957109 138824 11559 SH DEFINED 594 0 0~~ ABBOTT LABS COM 2824100 ~~1749684~~1724240 ~~43309~~43106 SH SOLE ~~41881~~41806 0 ~~1428~~1300 AGILENT TECHNOLOGIES INC COM 00846U101 ~~214615~~237665 ~~16433~~13233 SH SOLE ~~2828~~933 0 ~~1605~~1300 AGILENT TECHNOLOGIES INC COM 00846U101 ~~214615~~237665 ~~16433~~13233 SH DEFINED ~~12000~~11000 0 0 ALCOA INC COM 13817101 ~~1437445~~1514392 ~~74479~~66479 SH SOLE ~~72479~~66479 0 ~~2000~~0 ALLERGAN INC COM 18490102 ~~1807440~~1933151 ~~33225~~33550 SH SOLE ~~10025~~16350 0 ~~23200~~17200 ALTERA CORP COM 21441100 ~~4155834~~5876170 ~~479335~~476575 SH SOLE ~~34485~~33575 0 ~~444850~~443000 AMERADA HESS CORP COM 23551104 ~~317678~~257634 4680 SH SOLE 0 0 4680 AMERICAN EXPRESS CO COM 25816109 ~~2561188~~2734040 ~~82142~~77342 SH SOLE ~~14609~~13109 15000 ~~4533~~4233 AMERICAN EXPRESS CO COM 25816109 ~~2561188~~2734040 ~~82142~~77342 SH DEFINED ~~48000~~45000 0 0 AMERICAN INTL GROUP INC COM 26874107 ~~41544103~~41839318 ~~759490~~723238 SH SOLE ~~445803~~441020 25562 ~~260743~~233504 AMERICAN INTL GROUP INC COM 26874107 ~~41544103~~41839318 ~~759490~~723238 SH DEFINED ~~26751~~22521 0 631 AMERICAN WTR WKS INC COM 30411102 ~~446600~~454800 10000 SH DEFINED 10000 0 0 AMGEN INC COM 31162100 ~~14331206~~18078048 ~~343674~~373977 SH SOLE ~~126166~~149719 0 ~~212508~~219258 AMGEN INC COM 31162100 ~~14331206~~18078048 ~~343674~~373977 SH DEFINED 5000 0 0 ANADARKO PETE CORP COM 32511107 ~~319485~~343587 7173 SH SOLE 2173 0 0 ANADARKO PETE CORP COM 32511107 ~~319485~~343587 7173 SH DEFINED 5000 0 0 APPLIED MATLS INC COM 38222105 ~~5400826~~6024473 ~~467604~~462354 SH SOLE ~~94350~~91650 0 ~~373254~~370704 AUTOMATIC DATA PROCESSING IN COM 53015103 ~~10549635~~10685616 ~~303412~~272245 SH SOLE ~~127429~~118231 ~~500~~0 ~~158033~~136414 AUTOMATIC DATA PROCESSING IN COM 53015103 ~~10549635~~10685616 ~~303412~~272245 SH DEFINED ~~16850~~17000 0 600 BP PLC SPONSORED ADR 55622104 ~~2236754~~2217986 ~~56059~~54563 SH SOLE ~~24416~~23702 0 ~~31643~~30861 BANK ~~OF AMERICA CORPORATION COM 60505104 213858 3352 SH SOLE 2850 0 502 BANK~~ NEW YORK INC COM 64057102 ~~5826087~~4281724 ~~202717~~178703 SH SOLE ~~9261~~5440 0 ~~193456~~173263 BANK ONE CORP COM 06423A103 ~~281734~~273577 ~~7533~~7485 SH SOLE 0 0 ~~7533~~7485 BARRY R G CORP OHIO COM 68798107 ~~92439~~91328 22221 SH SOLE 0 0 22221 BAXTER INTL INC COM 71813109 ~~8961690~~8105440 ~~293345~~289480 SH SOLE ~~112823~~101300 0 ~~180522~~188180 BED BATH & BEYOND INC COM 75896100 ~~1937915~~2840093 ~~59500~~82250 SH SOLE ~~53400~~77000 0 ~~6100~~5250 BELLSOUTH CORP COM 79860102 ~~599142~~830944 ~~32633~~32120 SH SOLE 18506 448 ~~4301~~3788 BELLSOUTH CORP COM 79860102 ~~599142~~830944 ~~32633~~32120 SH DEFINED 9378 0 0 BERKSHIRE HATHAWAY INC DEL CL B 84670207 ~~682805~~671171 277 SH SOLE 22 0 225 BERKSHIRE HATHAWAY INC DEL CL B 84670207 ~~682805~~671171 277 SH DEFINED 30 0 0 BLOCK H & R INC COM 93671105 ~~336080~~241200 ~~8000~~6000 SH SOLE ~~8000~~6000 0 0 BOEING CO COM 97023105 ~~798028~~375492 ~~23382~~11382 SH SOLE ~~19382~~7382 0 4000 BRISTOL MYERS SQUIBB CO COM 110122108 ~~4864768~~4603493 ~~204402~~198855 SH SOLE ~~62148~~59048 0 ~~124434~~121987 BRISTOL MYERS SQUIBB CO COM 110122108 ~~4864768~~4603493 ~~204402~~198855 SH DEFINED 17820 0 0 CVS CORP COM 126650100 ~~1327073~~549340 ~~52350~~22000 SH SOLE ~~30350~~0 0 12000 CVS CORP COM 126650100 ~~1327073~~549340 ~~52350~~22000 SH DEFINED 10000 0 0 CARDINAL HEALTH INC COM 14149Y108 ~~10780255~~9557409 ~~173316~~161470 SH SOLE ~~70807~~66248 0 ~~102509~~95222 CATALINA MARKETING CORP COM 148867104 ~~4160052~~1074850 ~~148150~~58100 SH SOLE ~~16250~~20500 0 ~~131900~~37600 CATERPILLAR INC DEL COM 149123101 ~~579143~~711403 15560 SH SOLE 14360 0 0 CATERPILLAR INC DEL COM 149123101 ~~579143~~711403 15560 SH DEFINED 1200 0 0 CHARTER ONE FINL INC COM 160903100 ~~578506~~547868 ~~19465~~19070 SH SOLE ~~3254~~3252 0 ~~16211~~15818 CHEVRONTEXACO CORP COM 166764100 ~~3732921~~3511607 ~~53905~~52822 SH SOLE ~~15331~~14331 0 ~~9374~~9291 CHEVRONTEXACO CORP COM 166764100 ~~3732921~~3511607 ~~53905~~52822 SH DEFINED 29200 0 0 CHUBB CORP COM 171232101 ~~1314659~~1249250 ~~23977~~23932 SH SOLE 432 0 ~~1545~~1500 CHUBB CORP COM 171232101 ~~1314659~~1249250 ~~23977~~23932 SH DEFINED 22000 0 0 CISCO SYS INC COM 17275R102 ~~6067710~~7236519 ~~578980~~552406 SH SOLE ~~109300~~88639 0 ~~466580~~460667 CISCO SYS INC COM 17275R102 ~~6067710~~7236519 ~~578980~~552406 SH DEFINED 3100 0 0 CITIGROUP INC COM 172967101 ~~837714~~996666 ~~28253~~28322 SH SOLE ~~12541~~11654 1218 ~~14494~~15450 COCA COLA CO COM 191216100 ~~1763921~~1621861 ~~36779~~36995 SH SOLE ~~11743~~11959 0 23236 COCA COLA CO COM 191216100 ~~1763921~~1621861 ~~36779~~36995 SH DEFINED 1500 0 300 COLGATE PALMOLIVE CO COM 194162103 ~~9538414~~8872309 ~~176801~~169222 SH SOLE ~~75101~~71147 500 ~~99800~~93475 COLGATE PALMOLIVE CO COM 194162103 ~~9538414~~8872309 ~~176801~~169222 SH DEFINED ~~1400~~4100 0 0 COMCAST CORP NEW CL A 20030N101 1176803 49928 SH SOLE 21654 0 28083 COMCAST CORP NEW CL A 20030N101 1176803 49928 SH DEFINED 191 0 0 COMCAST CORP NEW CL A SPL ~~200300200~~20030N200 ~~6562243~~7029104 ~~314585~~311160 SH SOLE ~~36585~~33960 0 ~~278000~~277200 CONOCOPHILLIPS COM 20825C104 ~~485104~~490094 ~~10491~~10128 SH SOLE 8055 0 ~~2436~~2073 CONSOL ENERGY INC COM 20854P109 552960 32000 SH SOLE 32000 0 0 CORNING INC COM 219350105 ~~29075~~60149 18172 SH SOLE 3672 0 14500 COSTCO WHSL CORP NEW COM 22160K105 ~~10310395~~9184683 ~~318517~~327323 SH SOLE ~~105109~~119815 0 ~~213408~~207508 COX COMMUNICATIONS INC NEW CL A 224044107 ~~622078~~718463 25298 SH SOLE 25298 0 0 DTE ENERGY CO COM 233331107 ~~284900~~324800 7000 SH SOLE 0 0 7000 DARDEN RESTAURANTS INC COM 237194105 ~~401414~~338652 16560 SH SOLE 10560 6000 0 DEERE & CO COM 244199105 ~~545400~~458500 ~~12000~~10000 SH SOLE ~~12000~~10000 0 0 DIGITAL RECORDERS INC COM 253869101 ~~115000~~120000 50000 SH DEFINED 50000 0 0 DIME BANCORP INC NEW *W EXP 99/99/999 25429Q110 ~~1261~~1696 14013 SH SOLE 14013 0 0 DISNEY WALT CO COM DISNEY 254687106 ~~8039446~~7406893 ~~531007~~454132 SH SOLE ~~139531~~67989 942 ~~381750~~376417 DISNEY WALT CO COM DISNEY 254687106 ~~8039446~~7406893 ~~531007~~454132 SH DEFINED 8184 0 600 DOVER CORP COM 260003108 ~~1166871~~1305668 ~~45976~~44776 SH SOLE ~~26900~~25700 1200 10876 DOVER CORP COM 260003108 ~~1166871~~1305668 ~~45976~~44776 SH DEFINED 6200 0 800 DU PONT E I DE NEMOURS & CO COM 263534109 ~~1013170~~1190974 28089 SH SOLE 20765 0 7324 DUKE ENERGY CORP COM 264399106 ~~349945~~349766 17900 SH SOLE 10300 0 1600 DUKE ENERGY CORP COM 264399106 ~~349945~~349766 17900 SH DEFINED 6000 0 0 E M C CORP MASS COM 268648102 ~~2974499~~3946485 ~~650875~~642750 SH SOLE ~~51475~~44600 0 ~~599400~~598150 ELEMERSON ~~PASO~~ELEC CO COM 291011104 11925698 234527 SH SOLE 211751 0 22776 ENERGEN CORP COM ~~28336L109~~29265N108 ~~207109~~582000 ~~25043~~20000 SH SOLE ~~2089~~0 ~~22218~~20000 0 ELESCO ~~PASO~~TECHNOLOGIES ~~CORP~~INC COM ~~28336L109~~296315104 ~~207109~~348725 ~~25043~~9425 SH ~~DEFINED~~SOLE ~~736~~9425 0 0 ~~EMERSON~~EXXON ~~ELEC~~MOBIL COCORP COM ~~291011104~~30231G102 ~~10305116~~35289330 ~~234527~~1009998 SH SOLE ~~211751~~469976 014848 ~~22776~~279996 ~~ENERGEN~~EXXON MOBIL CORP COM ~~29265N108~~30231G102 ~~506200~~35289330 ~~20000~~1009998 SH DEFINED 245178 0 0 FIFTH THIRD BANCORP COM 316773100 1980278 33822 SH SOLE 28847 0 ~~20000~~4975 FOX ENTMT GROUP INC CL A 35138T107 7580506 292345 SH SOLE 30345 0 ~~ESCO~~262000 ~~TECHNOLOGIES~~GANNETT INC COM ~~296315104~~364730101 ~~304428~~671617 ~~9425~~9354 SH SOLE ~~9425~~5830 0 03524 ~~EXXON~~GENERAL ~~MOBIL~~ELEC ~~CORP~~CO COM ~~30231G102~~369604103 ~~32715109~~26622610 ~~1025552~~1093331 SH SOLE ~~468608~~384006 ~~14848~~0 ~~288318~~477468 ~~EXXON~~GENERAL ~~MOBIL~~ELEC ~~CORP~~CO COM ~~30231G102~~369604103 ~~32715109~~26622610 ~~1025552~~1093331 SH DEFINED ~~253778~~231857 0 0 ~~FOX~~GENERAL ~~ENTMT~~MLS INC COM 370334104 1421646 30280 SH SOLE 22080 8000 200 GENLYTE GROUP INC CLCOM A372302109 ~~35138T107~~467400 ~~6466246~~15000 ~~293520~~SH SOLE 0 0 15000 GILLETTE CO COM 375766102 1390245 45792 SH SOLE ~~30320~~20592 0 ~~263200~~25200 GLAXOSMITHKLINE PLC SPONSORED ADR 37733W105 568118 15166 SH SOLE 400 0 14766 HALLIBURTON CO COM 406216101 1571640 84000 SH SOLE 3200 0 80800 HAWAIIAN ELEC INDUSTRIES COM 419870100 527760 12000 SH SOLE 12000 0 0 HEINZ H J CO COM 423074103 338857 10309 SH SOLE 900 0 9409

4 13F REPORT AS OF 12/31/02 WHITEHALL ASSET MANAGEMENT DATE: 12/31/02

ITEM 1 ITEM 2 ITEM 3 ITEM 4 ITEM 5 ITEM 6 ITEM 7 ITEM 8 FAIR INVESTMENT VOTING AUTHORITY FAIR INVESTMENT ~~(SHARES)~~AUTHORITY MARKET SH/PRN ~~PUT/~~ DISCRETION (ASHARES) ~~(B) (C)~~ ISSUER CLASS SECID VALUE AMOUNT SH/PRN PUT/CALL TYPE MGRS (A)SOLE (B)SHARED (C)NONE ------ ----- ------ ------- ------~~----~~ -------- ------ --~~----~~ ----- ----~~------~~ ------ --------- ------~~--------~~ ~~GANNETT~~HERSHEY ~~INC~~FOODS ~~COM~~CORP ~~364730101 675172 9354 SH SOLE 5830 0 3524 GENERAL ELEC CO~~ COM ~~369604103~~427866108 ~~28530650~~215808 ~~1157430~~3200 SH SOLE ~~401366~~1200 ~~33300 483084 GENERAL ELEC CO COM 369604103 28530650 1157430 SH DEFINED 239680~~ 0 0 ~~GENERAL~~HERSHEY ~~MLS~~FOODS ~~INC COM 370334104 1345038 30280 SH SOLE 22080 8000 200 GENERAL MTRS~~ CORP COM ~~370442105~~427866108 ~~503561~~215808 ~~12945~~3200 SH ~~SOLE 11305 0 1640 GENLYTE GROUP INC COM 372302109 709000 20000 SH SOLE 0 0 20000 GILLETTE CO COM 375766102 1409730 47626 SH SOLE 20226 0 25000 GILLETTE CO COM 375766102 1409730 47626 SH~~ DEFINED ~~2400~~2000 0 0 GLAXOSMITHKLINE PLC SPONSORED ADR 37733W105 582829 15166 SH SOLE 400 0 14766 HALLIBURTON CO COM 406216101 1084440 84000 SH SOLE 3200 0 80800 HANOVER COMPRESSOR CO COM 410768105 1554590 187300 SH SOLE 1000 0 186300 HAWAIIAN ELEC INDUSTRIES COM 419870100 689600 16000 SH SOLE 16000 0 0 HEINZ H J CO COM 423074103 344011 10309 SH SOLE 900 0 9409 HEWLETT PACKARD CO COM 428236103 ~~611975~~715926 ~~52440~~41240 SH SOLE ~~24140~~12940 0 24300 HEWLETT PACKARD CO COM 428236103 ~~611975~~715926 ~~52440~~41240 SH DEFINED 4000 0 0 HOME DEPOT INC COM 437076102 ~~3134949~~1556352 ~~120113~~64794 SH SOLE ~~93537~~56740 0 ~~25976~~7754 HOME DEPOT INC COM 437076102 ~~3134949~~1556352 ~~120113~~64794 SH DEFINED ~~600~~300 0 0 HONEYWELL INTL INC COM 438516106 ~~654738~~725472 30228 SH SOLE 2836 2392 24500 HONEYWELL INTL INC COM 438516106 ~~654738~~725472 30228 SH DEFINED 500 0 0 HOUSEHOLD INTL INC COM 441815107 ~~2603274~~1561114 ~~91956~~56135 SH SOLE ~~82825~~51910 0 ~~9131~~4225 HUMAN GENOME SCIENCES INC COM 444903108 ~~2457828~~1795478 203800 SH SOLE 13800 0 190000 IMS HEALTH INC COM 449934108 ~~212754~~227392 14212 SH SOLE 8612 5600 0 ILLINOIS TOOL WKS INC COM 452308109 ~~581200~~622656 ~~9964~~9600 SH SOLE 0 0 ~~9964~~9600 IMPAC MTG HLDGS INC COM 45254P102 ~~1003500~~1150000 ~~90000~~100000 SH DEFINED ~~90000~~100000 0 0 INTEL CORP COM 458140100 ~~3971957~~4590129 ~~285958~~294806 SH SOLE ~~60158~~77106 0 ~~222900~~214800 INTEL CORP COM 458140100 ~~3971957~~4590129 ~~285958~~294806 SH DEFINED 2900 0 0 INTERNATIONAL BUSINESS MACHS COM 459200101 ~~2389311~~3156808 ~~40976~~40733 SH SOLE ~~33676~~33514 0 ~~3096~~3015 INTERNATIONAL BUSINESS MACHS COM 459200101 ~~2389311~~3156808 ~~40976~~40733 SH DEFINED 4204 0 0 INTERNATIONAL GAME TECHNOLOG COM 459902102 ~~338786~~372008 4900 SH SOLE 1400 0 3500 INTL PAPER CO COM 460146103 ~~452067~~473459 13539 SH SOLE 10339 0 0 INTL PAPER CO COM 460146103 ~~452067~~473459 13539 SH DEFINED 3200 0 0 J P MORGAN CHASE & CO COM 46625H100 ~~348960~~350616 ~~18376~~14609 SH SOLE 0 0 ~~18376~~14609 JAPAN SMALLER CAPTLZTN FD IN COM 47109U104 ~~330000~~366000 60000 SH SOLE 60000 0 0 JOHNSON & JOHNSON COM 478160104 ~~18809132~~18043230 ~~347802~~335938 SH SOLE ~~187979~~178965 ~~1000~~0 ~~59973~~57973 JOHNSON & JOHNSON COM 478160104 ~~18809132~~18043230 ~~347802~~335938 SH DEFINED ~~98850~~99000 0 0 ~~JONES~~KAYDON ~~APPAREL~~CORP ~~GROUP INC~~ COM ~~480074103~~486587108 ~~647770~~545733 ~~21100~~25730 SH SOLE ~~19200~~0 0 ~~1900~~25730 ~~KAYDON~~KIMBERLY CLARK CORP COM ~~486587108~~494368103 ~~732061~~1073771 ~~36530~~22620 SH SOLE 09040 0 ~~36530~~13580 ~~KIMBERLY~~KOHLS ~~CLARK~~ CORP COM ~~494368103~~500255104 ~~4831109~~1071443 ~~85295~~19150 SH SOLE ~~49054~~11450 0 ~~36241~~7700 KROGER CO COM 501044101 ~~338400~~361530 ~~24000~~23400 SH SOLE ~~13000~~12400 0 11000 LIBERTY MEDIA CORP NEW COM SER A 530718105 ~~3507164~~4613112 ~~488463~~516008 SH SOLE ~~46500~~44744 0 ~~441963~~471264 LILLY ELI & CO COM 532457108 ~~1218587~~1398969 ~~22020~~22031 SH SOLE ~~10650~~10661 0 9570 LILLY ELI & CO COM 532457108 ~~1218587~~1398969 ~~22020~~22031 SH DEFINED 1800 0 0 LINEAR TECHNOLOGY CORP COM 535678106 ~~399482~~454678 ~~19280~~17678 SH SOLE ~~13141~~12819 0 ~~6139~~4859 LOEWS CORP COM 540424108 ~~1242523~~1288006 28970 SH SOLE 28970 0 0 MBIA INC COM 55262C100 ~~1017726~~985754 ~~25475~~22475 SH SOLE 9875 0 ~~15600~~12600 MARSH & MCLENNAN COS INC COM 571748102 ~~249840~~277260 6000 SH SOLE 0 0 6000 MASCO CORP COM 574599106 ~~376533~~405423 19260 SH SOLE 13000 0 0 MASCO CORP COM 574599106 ~~376533~~405423 19260 SH DEFINED 6260 0 0 MATTEL INC COM 577081102 ~~266386~~283248 14791 SH SOLE 0 0 13000 MATTEL INC COM 577081102 ~~266386~~283248 14791 SH DEFINED 0 1791 0 MAXIM INTEGRATED PRODS INC COM 57772K101 ~~5910336~~6988786 ~~238705~~211525 SH SOLE ~~46605~~19425 0 192100 MAY DEPT STORES CO COM 577778103 ~~429215~~428577 ~~18850~~18650 SH SOLE ~~18850~~18650 0 0 MCDONALDS CORP COM 580135101 ~~3372530~~3040246 ~~190970~~189070 SH SOLE ~~8870~~14870 0 ~~181100~~174200 ~~MCDONALDS~~MEDTRONIC ~~CORP~~INC COM ~~580135101~~585055106 ~~3372530~~692208 ~~190970~~15180 SH ~~DEFINED~~SOLE ~~1000~~12080 0 03100 MELLON FINL CORP COM 58551A108 ~~302370~~304469 11661 SH SOLE 11341 0 320 MERCK & CO INC COM 589331107 ~~8661405~~10245051 ~~189486~~180976 SH SOLE ~~48374~~46733 0 ~~121512~~114643 MERCK & CO INC COM 589331107 ~~8661405~~10245051 ~~189486~~180976 SH DEFINED 19600 0 0 MERRILL LYNCH & CO INC COM 590188108 ~~1231770~~1325707 ~~37383~~34933 SH SOLE ~~32383~~30933 0 ~~5000~~4000 METTLER TOLEDO INTERNATIONAL COM 592688105 ~~312000~~384720 12000 SH SOLE 12000 0 0 MICROSOFT CORP COM 594918104 ~~7246581~~9579855 ~~165674~~185297 SH SOLE ~~32219~~45292 0 ~~125570~~132120 MICROSOFT CORP COM 594918104 ~~7246581~~9579855 ~~165674~~185297 SH DEFINED 7885 0 0 MICRON TECHNOLOGY INC COM 595112103 ~~1109589~~871000 ~~89700~~89425 SH SOLE ~~7100~~6825 0 82600 MOLEX INC COM 608554101 ~~4422348~~3541594 ~~188025~~153715 SH SOLE ~~42899~~8589 0 141466 MOLEX INC COM 608554101 ~~4422348~~3541594 ~~188025~~153715 SH DEFINED 3660 0 0 MOLEX INC CL A 608554200 ~~787463~~745875 37500 SH SOLE 27500 0 10000 MOODYS CORP COM 615369105 ~~267041~~227343 5506 SH SOLE 2706 2800 0 NATUZZI S P A ADR 63905A101 ~~19222476~~10991088 ~~1760300~~1081800 SH SOLE ~~1441000~~856500 0 ~~319300~~225300 NOVELLUS SYS INC COM 670008101 ~~5244640~~7060014 ~~252025~~251425 SH SOLE ~~53225~~52625 0 198800 NUCOR CORP COM 670346105 206170 4992 SH SOLE 0 0 4992 OMNICOM GROUP INC COM 681919106 ~~228288~~232560 ~~4100~~3600 SH SOLE 2400 0 ~~1700~~1200 PAYCHEX INC COM 704326107 ~~2549442~~2938010 ~~105045~~105305 SH SOLE ~~87700~~91205 0 ~~17345~~14100 PEPSICO INC COM 713448108 ~~11014647~~11751810 ~~298096~~278347 SH SOLE ~~116849~~121275 ~~1000~~0 ~~163447~~141472 PEPSICO INC COM 713448108 ~~11014647~~11751810 ~~298096~~278347 SH DEFINED ~~10500~~9300 6300 0 PER-SE TECHNOLOGIES INC COM NEW 713569309 ~~29562027~~23597385 ~~2992108~~2630994 SH SOLE ~~1648435~~1718235 0 ~~1343673~~912759 PFIZER INC COM 717081103 ~~16717058~~17272998 ~~576053~~565031 SH SOLE ~~250497~~243824 ~~13200~~10250 ~~290706~~289807 PFIZER INC COM 717081103 ~~16717058~~17272998 ~~576053~~565031 SH DEFINED 18050 0 ~~3600~~3100 PHARMACIA CORP COM 71713U102 ~~637399~~680922 ~~16394~~16290 SH SOLE 11100 0 ~~1794~~1690 PHARMACIA CORP COM 71713U102 ~~637399~~680922 ~~16394~~16290 SH DEFINED 3500 0 0 PHILADELPHIA SUBN CORP COM PAR $0.50 718009608 ~~345100~~350200 17000 SH SOLE 2000 0 0 PHILADELPHIA SUBN CORP COM PAR $0.50 718009608 ~~345100~~350200 17000 SH DEFINED 15000 0 0 PHILIP MORRIS COS INC COM 718154107 ~~384314~~383211 ~~9905~~9455 SH SOLE ~~9105~~8655 0 800 ~~PRE~~POLO ~~PAID~~RALPH ~~LEGAL~~LAUREN ~~SVCS~~CORP ~~INC~~CL ~~COM~~A ~~740065107~~731572103 ~~1391600~~245888 ~~70000~~11300 SH SOLE 010000 0 ~~70000~~1300 PROCTER & GAMBLE CO COM 742718109 ~~2771227~~2642999 ~~31005~~30754 SH SOLE ~~12519~~12268 0 15486 PROCTER & GAMBLE CO COM 742718109 ~~2771227~~2642999 ~~31005~~30754 SH DEFINED 3000 0 0 PROGRESS ENERGY INC COM 743263105 ~~1420641~~1506846 34760 SH SOLE 12960 1600 200 PROGRESS ENERGY INC COM 743263105 ~~1420641~~1506846 34760 SH DEFINED 20000 0 0 PROGRESSIVE CORP OHIO COM 743315103 ~~377194~~357336 ~~7450~~7200 SH SOLE 4500 0 ~~700~~450 PROGRESSIVE CORP OHIO COM 743315103 ~~377194~~357336 ~~7450~~7200 SH DEFINED 2250 0 0 ROBERT HALF INTL INC COM 770323103 386640 24000 SH SOLE 24000 0 0 ROHM & HAAS CO COM 775371107 ~~1307239~~1359905 ~~42169~~41869 SH SOLE 1111 0 ~~41058~~40758 SBC COMMUNICATIONS INC COM 78387G103 ~~1140052~~1484733 ~~56719~~54767 SH SOLE ~~32543~~31943 689 ~~8533~~7181 SBC COMMUNICATIONS INC COM 78387G103 ~~1140052~~1484733 ~~56719~~54767 SH DEFINED 14797 157 0 SPX CORP COM 784635104 ~~1518545~~1127245 ~~15050~~30100 SH SOLE ~~15050~~30100 0 0 SAFECO CORP COM 786429100 ~~376784~~411048 11856 SH SOLE 11856 0 0 SCHERING PLOUGH CORP COM 806605101 ~~423394~~413542 ~~19859~~18628 SH SOLE ~~452~~0 0 ~~19407~~18628 SCHLUMBERGER LTD COM 806857108 ~~665973~~711994 ~~17316~~16916 SH SOLE ~~2426~~2026 0 10090 SCHLUMBERGER LTD COM 806857108 711994 16916 SH DEFINED 4800 0 0 SEACHANGE INTL INC COM 811699107 92250 15000 SH DEFINED 15000 0 0 SEALED AIR CORP NEW COM 81211K100 439021 11770 SH SOLE 0 0 11770 SOUTHERN CO COM 842587107 1333194 46960 SH SOLE 2260 0 700 SOUTHERN CO COM 842587107 1333194 46960 SH DEFINED 44000 0 0 SOUTHERN UN CO NEW COM 844030106 352523 21365 SH SOLE 0 21365 0 SYSCO CORP COM 871829107 2935477 98539 SH SOLE 76275 0 15264 SYSCO CORP COM 871829107 2935477 98539 SH DEFINED 7000 0 0 TJX COS INC NEW COM 872540109 446579 22878 SH SOLE 0 0 22878 TARGET CORP COM 8.76E+110 285000 9500 SH SOLE 9500 0 0 TEXAS INSTRS INC COM 882508104 1729258 115207 SH SOLE 16807 0 96000 TEXAS INSTRS INC COM 882508104 1729258 115207 SH DEFINED 2400 0 0 3M CO COM 88579Y101 1523125 12353 SH SOLE 11343 0 1010 TIDEWATER INC COM 886423102 559800 18000 SH SOLE 18000 0 0 TRIBUNE CO NEW COM 896047107 2405198 52908 SH SOLE 52408 0 500 US BANCORP DEL COM NEW 902973304 464463 21888 SH SOLE 0 0 21888 UNION PAC CORP COM 907818108 1267927 21178 SH SOLE 11578 0 600 UNION PAC CORP COM 907818108 1267927 21178 SH DEFINED 9000 0 0

5 13F REPORT AS OF 12/31/02 WHITEHALL ASSET MANAGEMENT DATE: 12/31/02

ITEM 1 ITEM 2 ITEM 3 ITEM 4 ITEM 5 ITEM 6 ITEM 7 ITEM 8 ~~VOTING AUTHORITY~~ FAIR INVESTMENT ~~(SHARES)~~VOTING AUTHORITY MARKET SH/PRN ~~PUT/~~ DISCRETION (ASHARES) ~~(B) (C)~~ ISSUER CLASS SECID VALUE AMOUNT SH/PRN PUT/CALL TYPE MGRS (A)SOLE (B)SHARED (C)NONE ------ ----- ------ ------- ------~~----~~ -------- ------ --~~----~~ ----- ----~~------~~ ------ --------- ------~~--------~~ SCHLUMBERGER LTD COM 806857108 665973 17316 SH DEFINED 4800 0 0 SEACHANGE INTL INC COM 811699107 103050 15000 SH DEFINED 15000 0 0 SEALED AIR CORP NEW COM 81211K100 198795 11770 SH SOLE 0 0 11770 SOUTHERN CO COM 842587107 1351509 46960 SH SOLE 2260 0 700 SOUTHERN CO COM 842587107 1351509 46960 SH DEFINED 44000 0 0 SOUTHERN UN CO NEW COM 844030106 241425 21365 SH SOLE 0 21365 0 STILWELL FINL INC COM 860831106 181050 15000 SH SOLE 15000 0 0 SYSCO CORP COM 871829107 2798431 98571 SH SOLE 65275 0 27296 SYSCO CORP COM 871829107 2798431 98571 SH DEFINED 6000 0 0 TJX COS INC NEW COM 872540109 394400 23200 SH SOLE 0 0 23200 TARGET CORP COM 8.76E+110 280440 9500 SH SOLE 9500 0 0 TEXAS INSTRS INC COM 882508104 1613726 109257 SH SOLE 16857 0 90000 TEXAS INSTRS INC COM 882508104 1613726 109257 SH DEFINED 2400 0 0 3M CO COM 88579Y101 1138519 10353 SH SOLE 9343 0 1010 TIDEWATER INC COM 886423102 485820 18000 SH SOLE 18000 0 0 TRIBUNE CO NEW COM 896047107 2221574 53135 SH SOLE 52635 0 500 US BANCORP DEL COM NEW 902973304 406679 21888 SH SOLE 0 0 21888 UNION PAC CORP COM 907818108 1225571 21178 SH SOLE 11578 0 600 UNION PAC CORP COM 907818108 1225571 21178 SH DEFINED 9000 0 0 UNITED TECHNOLOGIES CORP COM 913017109 ~~2541372~~2043277 ~~44988~~32988 SH SOLE ~~36368~~31568 0 ~~8620~~1420 UNIVISION COMMUNICATIONS INC CL A 914906102 ~~3879990~~2527175 ~~170175~~103150 SH SOLE ~~23575~~43400 0 ~~146600~~59750 VERIZON COMMUNICATIONS COM 92343V104 ~~1100810~~1918668 ~~40117~~49514 SH SOLE ~~26091~~35988 200 ~~3476~~2976 VERIZON COMMUNICATIONS COM 92343V104 ~~1100810~~1918668 ~~40117~~49514 SH DEFINED 10280 70 0 VERTEX PHARMACEUTICALS INC COM 92532F100 ~~2597771~~2234787 ~~140496~~140996 SH SOLE ~~5000~~5500 0 135496 VIACOM INC CL A 925524100 ~~3330169~~3351521 82125 SH SOLE 8325 0 73800 VIACOM INC CL B 925524308 ~~2764983~~3200394 ~~68187~~78518 SH SOLE ~~61986~~72411 0 ~~6201~~6107 VIRAGEN INC COM 927638106 ~~1650~~1540 11000 SH DEFINED 11000 0 0 WACHOVIA CORP 2ND NEW COM 929903102 ~~701429~~781893 21457 SH SOLE 1100 0 20357 WAL MART STORES INC COM 931142103 ~~8622909~~8538766 ~~175120~~169051 SH SOLE ~~59930~~58529 15400 ~~99790~~95122 WELLS FARGO & CO NEW COM 949746101 ~~12664298~~12912357 ~~262963~~275493 SH SOLE ~~95872~~115034 0 ~~146591~~139959 WELLS FARGO & CO NEW COM 949746101 ~~12664298~~12912357 ~~262963~~275493 SH DEFINED 20500 0 0 WISCONSIN ENERGY CORP COM 976657106 ~~241761~~250715 9949 SH SOLE 7699 0 2250 WYETH COM 983024100 ~~1203153~~1377629 ~~37835~~36835 SH SOLE 6850 0 ~~30985~~29985 XILINX INC COM 983919101 ~~4595633~~5913230 ~~290165~~287050 SH SOLE ~~61865~~58750 0 228300 ZIMMER HLDGS INC COM 98956P102 ~~7426650~~8010661 ~~193705~~192935 SH SOLE ~~120763~~119942 0 ~~72750~~72801 ZIMMER HLDGS INC COM 98956P102 ~~7426650~~8010661 ~~193705~~192935 SH DEFINED 192 0 0 XL CAP LTD CL A G98255105 ~~294000~~309000 4000 SH SOLE 0 0 4000 ASML HLDG NV N Y SHS N07059111 ~~1727010~~2349160 ~~279000~~281000 SH SOLE ~~19000~~21000 0 260000 -- -------- GRAND TOTAL ~~527~~525,~~909~~501,~~483~~771.00

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