13F-HR 1 w09132ee13fvhr.txt FORM 13F 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 March 31, 2005 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 5/16/2005 ------------------ ------------------------- --------------- (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 561 Form 13F Gartmore Information Table Value 2,176,529 (thousands)~~

BED BATH AND BEYOND COM STK US0.01 075896100 $ 1,040 27,893 X 27,893 BELLSOUTH CORP COM STK USD1 079860102 $ 973 36,437 X 36,437 BERKLEY(WR) CORP COM STK USD0.20 084423102 $ 820 16,515 X 16,515 BERKSHIRE HATHAWAY INC CNV CLASS'A'COM USD5 084670108 $ 1,056 12 X 12 BEST BUY CO INC COM STK USD0.10 086516101 $ 467 9,280 X 9,280 BHP BILLITON LIMITED ADR EACH REP 2 ORD NPV(MGT) 088606108 $ 576 20,700 X 20,700 BIOGEN IDEC INC COM USD0.0005 09062X103 $ 2,059 59,197 X 59,197 BJS RESTAURANTS INC COM NPV 09180C106 $ 489 25,133 X 25,133 BLACK + DECKER CORP COM USD0.50 091797100 $ 223 2,838 X 2,838 BOEING CO COM STK USD5 097023105 $ 12,556 215,272 X 215,272 BORG WARNER INC COM STK US 1/2 0.01 099724106 $ 3,926 80,000 X 80,000 BOSTON SCIENTIFIC CORP COM USD0.01 101137107 $ 592 19,285 X 19,285 BRAZIL TELECOM ADR(EACH REP 5000 PRF NPV-DTC) 105530109 $ 673 20,640 X 20,640 BRISTOL-MYERS SQUIBB COMPANY COMMON USD0.10 110122108 $ 1,928 75,683 X 75,683 BROADCOM CORP CL A COM STK USD0.0001 111320107 $ 3,141 105,548 X 105,548 BUNGE LTD COM STK USD0.01 G16962105 $ 745 13,727 X 13,727 BURLINGTON NORTHERN SANTA FE CORP COM STK USD0.01 12189T104 $ 3,162 58,877 X 58,877 BURLINGTON RESOURCES COM USD0.01 122014103 $ 240 4,634 X 4,634 BUSINESS OBJECTS SA ADR-EACH REP 1 ORD FRF1-DTC 12328X107 $ 298 11,029 X 11,029 CABELAS INC COM USD0.01 126804301 $ 524 25,454 X 25,454 CABLEVISION SYSTEMS CORP CLASS'A' COM USD0.01 12686C109 $ 530 19,043 X 19,043 CAESARS ENTERTAINMENT INC COM STK USD0.01 127687101 $ 585 29,959 X 29,959 CALLISTO PHARMA COM USD0.0001 1312EM104 $ 645 478,041 X 478,041 CANADIAN NATIONAL RAILWAYS CO COM STK NPV (US-EX) 136375102 $ 3,783 59,832 X 59,832 CANDESCENT TECHNOLOGIES CORP COM STK NPV (*SUSPENDED) 2733973 $ 130,000 X 130,000 CAPITAL ONE FINANCIAL CORP COM STK US 1/2 0.01 14040H105 $ 17,958 239,144 X 239,144 CARDINAL HEALTH INC COM STK NPV 14149Y108 $ 312 5,540 X 5,540 CAREMARK RX INC COM USD0.001 141705103 $ 717 17,514 X 17,514 CARLYLE-DEX PARTNERS L.P USD1 9126532 $ 9,269 1 X 1 CARLYLE-MEDPOINTE PARTNERS II L.P 9113631 $ 4,481 1 X 1 CARNIVAL CORP COM USD0.01(PAIRED STOCK) 143658300 $ 8,151 159,475 X 159,475 CASH AMERICA INTERNATIONAL COM STK US 1/2 0.10 14754D100 $ 747 33,446 X 33,446 CATERPILLAR INC COM USD1 149123101 $ 1,017 11,255 X 11,255 CDW CORPORATION COM USD0.01 12512N105 $ 3,370 59,564 X 59,564 CELADON GROUP INC COM USD0.033 150838100 $ 1,583 88,808 X 88,808 CELANESE CORP COM SERIES 'A' USD0.0001 150870103 $ 3,586 207,100 X 207,100 CELEBRATE EXPRESS COM USD0.001 15100A104 $ 1,324 89,142 X 89,142 CEMEX S.A. DE C.V ADR(EACH REP 5 CPO-DTC) 151290889 $ 1,777 49,182 X 49,182 CENDANT CORP COM USD0.01 151313103 $ 3,106 151,419 X 151,419 CENTERPOINT PROPS COM USD0.001 151895109 $ 208 5,060 X 5,060 CENTRAL MEDIA ENTERPRISES COM USD0.08 CLS'A' 2529848 $ 11,346 229,000 X 229,000 CERIDIAN CORP COM STK USD0.50 156779100 $ 2,046 122,378 X 122,378 CH ROBINSON WORLDWIDE INC COM STK USD0.10 12541W100 $ 637 12,433 X 12,433 CHEVRONTEXACO CORP COM USD0.75 166764100 $ 8,110 145,574 X 145,574 CHINA MOBILE (HK) ADR REP 20 ORD HKD0.10-DTC 16941M109 $ 564 34,488 X 34,488 CHINA TELECOM CORPORATION SPONS ADR EACH REPR 100'H'COM CNY1 169426103 $ 312 9,000 X 9,000 CHUBB CORP COM STK USD1 171232101 $ 1,037 13,075 X 13,075 CIA ENERGETICA MINAS GERAIS-CEMIG ADR(REP 1000 NVTG PF SHS LVL1-DTC) 204409601 $ 3,230 129,391 X 129,391 CIA VALE RIO DOCE ADR (1 PRF SHS-DTC) 204412100 $ 13,995 541,240 X 541,240 CIGNA CORP COM STK USD0.25 125509109 $ 1,981 22,223 X 22,223 CISCO SYSTEMS INC COM STK USD0.001 (US-EX) 17275R102 $ 6,023 337,979 X 337,979 CITIGROUP INC COM STK USD0.01 (US-EX) 172967101 $ 26,061 579,982 X 579,982 CITRIX SYSTEMS INC COM STK USD0.001 177376100 $ 1,173 51,072 X 51,072 CLARCOR INC COM STK USD1 179895107 $ 1,762 32,688 X 32,688 CLEAN HARBOUR COM USD0.01 184496107 $ 239 12,100 X 12,100 CLEAR CHANNEL COMMUNICATIONS INC COM STK USD0.10 184502102 $ 257 7,439 X 7,439 CLOROX CO COM STK USD1 189054109 $ 470 7,412 X 7,412 CNOOC LTD ADS REP 20 ORD HKD0.10-DTC 126132109 $ 3,824 69,200 X 69,200 COACH INC COM USD0.01 189754104 $ 518 18,014 X 18,014 COCA-COLA CO COM STK USD0.25 191216100 $ 1,368 32,678 X 32,678 COGENT INC COM USD0.001 19239Y108 $ 1,572 64,168 X 64,168 COGNOS INC COM NPV (US-EX) 19244C109 $ 1,565 37,260 X 37,260 COLGATE-PALMOLIVE CO COM STK USD1 194162103 $ 344 6,578 X 6,578 COLONIAL BANCGROUP COM STK USD2.5 195493309 $ 3,174 154,687 X 154,687 COMCAST CORPORATION 'A' SPL COM USD1 20030N200 $ 481 14,589 X 14,589 COMCAST CORPORATION COM CLS'A' USD1 20030N101 $ 4,455 133,978 X 133,978 COMPANHIA SIDERUGICA NACIONAL ADR(1 ADR EQUALS 1000 ORD-DTC) 20440W105 $ 2,976 129,018 X 129,018 COMPANIA ANONIMA NCNL TLFN DE VNZA ADR(EACH REP 7 CLS'D' SHS-DTC) 204421101 $ 1,266 65,742 X 65,742 COMPANIA DE BEBIDAS DAS AMERICAS ADR(REP 100 PRF SHS-DTC) 20441W203 $ 1,167 41,045 X 41,045 COMPANIA TELECOMUNICACIONES CHILE ADR(EACH REP 4 ORD SER'A'NPV-DTC) 204449300 $ 1,104 99,141 X 99,141 COMPUTER SCIENCES CORP COM STK USD1 205363104 $ 3,671 80,018 X 80,018 CONAGRA FOODS INC COM USD5 205887102 $ 282 10,562 X 10,562 CONOCOPHILLIPS COM STK USD0.01 20825C104 $ 28,541 263,311 X 263,311 CONSTELLATION ENERGY GROUP COM STK NPV 210371100 $ 12,035 225,144 X 225,144

CORNING INC COM STK USD0.50 219350105 $ 190 16,861 X 16,861 CORPBANCA ADR-EACH REPR 5000 COM REG'S' 21987A209 $ 980 38,300 X 38,300 COSTCO WHOLESALE COM USD0.005 22160K105 $ 3,583 77,320 X 77,320 COUNTRYWIDE FINANCIAL CORP COM USD0.05 222372104 $ 2,996 94,968 X 94,968 COVENTRY HEALTHCARE INC COM STK USD0.01 222862104 $ 10,098 141,636 X 141,636 CPFL ENERGIA SA SPONS ADR REP 3 ORD NPV 126153105 $ 599 28,300 X 28,300 CREDIT ACCEPTANCE CORP COM STK USD0.01 225310101 $ 1,553 79,770 X 79,770 CROWN CASTLE INTERNATIONAL CORP COM STK USD0.01 228227104 $ 1,662 99,826 X 99,826 CVS CORP COM STK USD0.01 126650100 $ 1,385 26,437 X 26,437 CYBERSOURCE CORP COM STK USD0.001 23251J106 $ 783 155,299 X 155,299 DANAHER CORP COM USD0.01 235851102 $ 1,057 20,376 X 20,376 DARDEN RESTAURANTS INC COM NPV 237194105 $ 1,130 36,423 X 36,423 DEERE + CO COM USD1 244199105 $ 2,847 42,869 X 42,869 DELL INC COM COM USD0.01 24702R101 $ 10,324 263,858 X 263,858 DESARROLLADORA HOMEX SA DE CV ADR EACH REPR COM NPV 25030W100 $ 3,654 152,700 X 152,700 DEVON ENERGY(NEW) COM USD0.10 25179M103 $ 304 6,264 X 6,264 DIAMOND CLUSTER INTL INC CLASS A SHS USD 0.001 25278P106 $ 814 51,339 X 51,339 DIGITAS INC COM STK USD0.01 25388K104 $ 1,670 166,784 X 166,784 DIRECTV GROUP INC COM USD0.01 25459L106 $ 189 13,141 X 13,141 DOMINION RESOURCES INC (VIRGINIA) COM STK NPV 25746U109 $ 4,069 53,194 X 53,194 DOUGHTY HANSON PARTNERSHIP NO.4 9096130 $ 7,067 1 X 1 DOW CHEMICAL CO COM STK USD2.50 260543103 $ 11,326 227,023 X 227,023 DR HORTON INC COM STK USD0.01 23331A109 $ 773 25,524 X 25,524 DRAPER FISHER JURVETSON FUND VII LP 9095676 $ 6,831 1 X 1 DRAPER FISHER JURVETSON PLANET VENT URES LP 9092451 $ 11,605 1 X 1 DU PONT(E.I.)DE NEMOURS & CO COM STK USD0.30 263534109 $ 10,202 200,951 X 200,951 DUKE ENERGY CORP COM NPV 264399106 $ 2,918 102,361 X 102,361 EAST WEST BANCORP COM STK USD0.001 27579R104 $ 8,263 226,112 X 226,112 EASTMAN KODAK CO COM STK USD2.50 277461109 $ 8,068 251,806 X 251,806 EATON CORPORATION COM USD0.50 278058102 $ 1,160 17,971 X 17,971 EBAY INC COM STK USD0.001 278642103 $ 906 23,694 X 23,694 ECHOSTAR COMMUNICATIONS CORP CLASS'A' COM USD0.01 278762109 $ 506 17,465 X 17,465 EDISON INTERNATIONAL COM NPV 281020107 $ 303 8,424 X 8,424 EDWARDS(A.G)INC COM USD1 281760108 $ 1,101 25,735 X 25,735 ELAN CORPORATION ADR (CNV TO 1 ORD EUR0.05)-DTC 284131208 $ 282 76,950 X 76,950 EMC CORP MASSACHUSETTS COM STK USD0.01 268648102 $ 8,632 689,170 X 689,170 EMERSON ELECTRIC CO COM USD0.05 291011104 $ 437 6,698 X 6,698 EMPRESA NACIONAL DE ELECTRICIDAD SA ADS(EACH REP 30 COM SHS-DTC) 29244T101 $ 2,489 124,542 X 124,542 ENERGIZER HOLDINGS INC COM STK USD0.01 29266R108 $ 1,153 19,334 X 19,334 ENERSIS S.A ADS(REPR 50 COM SHS-DTC) 29274F104 $ 4,492 532,805 X 532,805 ENSCO INTERNATIONAL INC COM STK US 1/2 0.10 26874Q100 $ 2,684 72,679 X 72,679 ENTERGY CORP COM STK USD0.01 29364G103 $ 356 4,927 X 4,927 ENTUITY LTD C CONV PREF SHSGBP0.00005 9123823 $ 22,644,928 X 22,644,928 EOG RESOURCES COM USD0.01 26875P101 $ 5,245 105,012 X 105,012 EQUITY OFFICE PROPERTIES COM STK USD0.01 294741103 $ 275 9,123 X 9,123 EQUITY RESIDENTIAL PROPERTIES TRUST SHS OF BENEFICIAL INTREST USD0.01 29476L107 $ 212 6,641 X 6,641 ESTEE LAUDER COMPANIES INC CLASS'A'COM STK USD0.01 518439104 $ 204 4,537 X 4,537 EURONET WORLDWIDE INC COM STK USD0.02 298736109 $ 1,922 66,438 X 66,438 EXELON CORP COM STK NPV 30161N101 $ 2,702 58,978 X 58,978 EXXON MOBIL CORP COM STK NPV 30231G102 $ 19,419 323,350 X 323,350 EYETECH PHARMACEUTICALS INC COM USD0.01 302297106 $ 233 8,650 X 8,650 FANNIE MAE COM NPV 313586109 $ 648 12,386 X 12,386 FEDERATED DEPARTMENT STORES,INC COM USD0.01 31410H101 $ 2,187 33,772 X 33,772 FEDEX CORP COM STK USD0.10 31428X106 $ 12,512 134,662 X 134,662 FIFTH THIRD BANCORP COM NPV 316773100 $ 299 6,985 X 6,985 FIRST ADVANTAGE CORPORATION COM USD0.001 CL'A' 31845F100 $ 1,005 48,080 X 48,080 FIRST AMERICAN CORP COM USD1 318522307 $ 440 13,600 X 13,600 FIRST CASH FINANCIAL SERVICES INC COM STK USD0.01 31942D107 $ 1,489 65,568 X 65,568 FIRST DATA CORPORATION COM USD0.01 319963104 $ 390 10,166 X 10,166 FIRST MARBLEHEAD COM STK USD0.01 320771108 $ 292 5,106 X 5,106 FISHER SCIENTIFIC INTL COM STK USD0.01 338032204 $ 2,151 37,899 X 37,899 FLIR SYSTEMS INC COM STK USD0.01 302445101 $ 1,727 57,064 X 57,064 FLORIDA ROCK INDUSTRIES COM STK USD0.10 341140101 $ 3,154 54,500 X 54,500 FOMENTO ECONOMICO MEXICANO SA DE CV ADR REP 1 UNIT(1'B&2'D-B' &2'D-L') (CIT) 344419106 $ 923 17,280 X 17,280 FOOT LOCKER INC COM USD0.01 344849104 $ 481 16,477 X 16,477 FORD MOTOR CO COM STK USD0.01 345370860 $ 251 22,649 X 22,649 FPL GROUP INC COM STK USD0.01 302571104 $ 203 5,040 X 5,040 FRANKLIN BK (DEL) COM USD0.01 352451108 $ 1,499 85,560 X 85,560 FRANKLIN RESOURCES COM USD0.10 354613101 $ 12,221 178,629 X 178,629 FREDDIE MAC COM USD0.21 313400301 $ 1,541 24,958 X 24,958 FREEPORT-MCMORAN COPPER + GOLD INC CLASS'B'COM STK USD0.10 35671D857 $ 5,428 139,433 X 139,433 FRONTIER MINING COM STK USD0.01 B02PC95 $ 563 1,760,000 X 1,760,000 GANNETT CO INC COM STK USD1 364730101 $ 263 3,333 X 3,333 GATEKEEPER SYSTEMS INC USD0.001 REG'S' U3696G104 $ 420 756,296 X 756,296

GENENTECH INC COM USD0.02 368710406 $ 3,577 62,636 X 62,636 GENERAL DYNAMICS CORP COM STK USD1 369550108 $ 1,974 18,189 X 18,189 GENERAL ELECTRIC CO(U.S.) COM STK USD0.06 369604103 $ 36,798 1,036,560 X 1,036,560 GENERAL MILLS INC COMMON USD0.10 370334104 $ 221 4,489 X 4,489 GENZYME CORP GENERAL DIVISION COM STK USD0.01 372917104 $ 886 15,688 X 15,688 GEORGIA PACIFIC GROUP COM STK USD0.80 373298108 $ 574 16,166 X 16,166 GFI GRP INV COM USD0.01 361652209 $ 237 9,060 X 9,060 GILLETTE CO COM STK USD1 375766102 $ 16,859 328,580 X 328,580 GLOBALSANTAFE CORP COM STK USD0.01 G3930E101 $ 629 16,784 X 16,784 GOL LINHAS AEREAS INTELIGENTES SA SPONS ADR EACH REPR 2 PRF NPV 38045R107 $ 1,005 41,068 X 41,068 GOLDEN WEST FINANCIAL CORP COM STK USD0.10 381317106 $ 224 3,710 X 3,710 GOLDMAN SACHS GROUP INC COM STK USD0.01 38141G104 $ 19,177 173,413 X 173,413 GOODRICH CORP COM USD5 382388106 $ 6,998 178,533 X 178,533 GOOGLE INC COM USD0.001 CL'A' 38259P508 $ 12,240 64,902 X 64,902 GREENFIELD ONLINE INC COM STK USD0.001 395150105 $ 2,217 111,102 X 111,102 GRUPO ELEKTRA(NEW) SPON ADR EACH REP 4 COM NPV 40050A201 $ 2,458 82,523 X 82,523 GRUPO FINANCIERO GALICIA SA ADR(EACH REP 10 CLS'B' SHSLVL11-DTC) 399909100 $ 1,107 143,840 X 143,840 GSI COMMERCE INC COM STK USD0.01 36238G102 $ 805 59,712 X 59,712 GUIDANT CORP COM STK NPV 401698105 $ 293 3,936 X 3,936 HALLIBURTON CO COM USD2.50 406216101 $ 14,122 317,874 X 317,874 HARBOURVEST PARTNERS DIRECT FUND 9103911 $ 766 1 X 1 HARBOURVEST PARTNERS PARTNERSHIP FUND 9103900 $ 4,284 1 X 1 HARBOURVEST PARTNERS VI-CAYMAN PARTNERSHIP FUND LP 9072152 $ 12,503 1 X 1 HARLEY DAVIDSON COM STK USD0.01 412822108 $ 215 3,731 X 3,731 HARRIS CORP COM USD1 413875105 $ 441 13,610 X 13,610 HARTFORD FINL SERV COM USD0.01 416515104 $ 3,324 48,360 X 48,360 HCA INC COM USD0.01 404119109 $ 1,099 20,180 X 20,180 HEADWATER INC COM STK USD0.001 42210P102 $ 1,874 59,240 X 59,240 HEALTH MANAGEMENT CLASS 'A' USD0.01 421933102 $ 10,593 410,737 X 410,737 HEALTHSOUTH CORP COM USD0.01 421924101 $ 526 102,564 X 102,564 HENRY SCHEIN CORP COM STK USD0.01 806407102 $ 1,678 45,756 X 45,756 HENRY VENTURE 11 LIMITED(THE FUND) ORDINARY VENTURE SHARES 9032808 $ 267 4,444 X 4,444 HEWLETT PACKARD CO COM USD0.01 428236103 $ 12,777 592,532 X 592,532 HILTON HOTELS CORP COM STK USD2.50 432848109 $ 14,180 622,225 X 622,225 HMS HOLDINGS CORP COM STK USD0.01 40425J101 $ 1,671 220,616 X 220,616 HOB ENTERTAINMENT COM STK USD0.0001 9150412 $ 69,165 X 69,165 HOME DEPOT INC COM USD0.05 437076102 $ 3,785 99,013 X 99,013 HONEYWELL INTERNATIONAL INC COM STK US 1/2 1 438516106 $ 396 10,660 X 10,660 HORIZON HEALTH CORP COM STK USD0.01 44041Y104 $ 812 19,831 X 19,831 HOST MARRIOTT CORP COM USD1 44107P104 $ 394 23,985 X 23,985 HUDSON HIGHLAND GRP INC COM USD0.001 443792106 $ 1,726 103,720 X 103,720 HUGHES SUPPLY INC COM STK USD1 444482103 $ 509 17,100 X 17,100 HUNT(J.B)TRANSPORT SERVICES INC COM STK USD0.01 445658107 $ 9,836 226,203 X 226,203 HURON CONSULTING GROUP INC COM USD0.01 447462102 $ 1,712 81,944 X 81,944 HUTCHISON TELECOMM SPON ADR EACH REP 15 HKD0.25 44841T107 $ 1,484 108,066 X 108,066 ICICI BANK ADR (ACH REP 2 ORD INR10-DTC) 45104G104 $ 8,697 427,696 X 427,696 ILLINOIS TOOL WORKS INC COM NPV 452308109 $ 476 5,259 X 5,259 IMERGENT INC COM USD0.001 45247Q100 $ 1,040 131,048 X 131,048 INGERSOLL-RAND CO COM USD2 CL'A' G4776G101 $ 791 9,844 X 9,844 INNOVET COM USD0.001 45765P104 $ 250,000 X 250,000 INTEL CORP COM STK USD0.001 458140100 $ 20,146 870,756 X 870,756 INTERLINE BRANDS INC COM USD0.01 458743101 $ 1,851 101,512 X 101,512 INTERMAGNETICS GEN COM STK USD0.10 458771102 $ 1,277 52,088 X 52,088 INTERNATIONAL BUSINESS MACHINES CRP COM STK USD0.20 459200101 $ 13,582 151,608 X 151,608 INTERNATIONAL PAPER CO COM STK USD1 460146103 $ 1,530 42,075 X 42,075 INVESTORS FINANCIAL SERVICES CORP COM STK USD0.01 461915100 $ 8,640 176,816 X 176,816 INVITROGEN COM USD0.01 46185R100 $ 6,886 98,652 X 98,652 IONA TECHNOLOGIES ADS REP 1 ORD SHS-DTC 46206P109 $ 8,838 2,299,227 X 2,299,227 ISHARES INC MSCI EAFE INDEX FUND(ETF) 464287465 $ 5,930 37,197 X 37,197 J P MORGAN CHASE COM USD1 46625H100 $ 6,573 190,095 X 190,095 J.C PENNEY CO INC HOLDING CO COM USD0.50 708160106 $ 602 12,125 X 12,125 J2 GLOBAL COMMUNICATIONS INC COM USD0.01 46626E205 $ 1,443 39,916 X 39,916 JDS UNIPHASE CORP COM USD0.001 46612J101 $ 29 19,257 X 19,257 JOHNSON & JOHNSON COM STK USD1 478160104 $ 28,108 407,305 X 407,305 JUNIPER NETWORKS COM STK USD0.00001 48203R104 $ 1,896 86,205 X 86,205 KERR-MCGEE CORP COM STK USD1 492386107 $ 5,488 71,997 X 71,997 KIMBERLY-CLARK CORP COM STK USD1.25 494368103 $ 399 6,061 X 6,061 KLA-TENCOR CORP COMMON USD0.001 482480100 $ 370 8,330 X 8,330 KNIGHTSBRIDGE INTERGRATED HOLDINGS V LP 9086517 $ 8,303 1 X 1 KNIGHTSBRIDGE POST VENTURE IV LP 9078901 $ 7,662 1 X 1 KNIGHTSBRIDGE TANKERS COM STK USD0.01 G5299G106 $ 2,962 75,000 X 75,000 KOHLS CORPORATION COM USD0.01 500255104 $ 1,454 28,626 X 28,626 KOREA ELECTRIC POWER CORP ADR REP 1/2 KRW5000-DTC 500631106 $ 1,418 102,584 X 102,584 KROGER CO COM STK USD1 501044101 $ 333 21,010 X 21,010

KYPHON INC COM USD0.001 501577100 $ 1,481 59,256 X 59,256 LAFARGE NORTH AMERICA INC COM USD1 505862102 $ 16,251 281,834 X 281,834 LAM RESEARCH CORP COM STK USD0.001 512807108 $ 669 24,376 X 24,376 LECG CORP COM USD0.001 523234102 $ 2,564 128,330 X 128,330 LEGGETT & PLATT INC COM STK USD0.01 524660107 $ 886 30,440 X 30,440 LEHMAN BROS HOLDINGS INCORPORATED COM USD0.10 524908100 $ 557 5,967 X 5,967 LEVEL 3 COMMUNICATIONS INC COM STK USD0.01 52729N100 $ 23 11,012 X 11,012 LG PHILIPS LCD ADR EA REP 1/2 KRW5000 50186V102 $ 1,526 67,500 X 67,500 LIBERTY MEDIA CORP SER'A'COM USD0.01 530718105 $ 359 34,650 X 34,650 LIFE TIME FITNESS INC COM STK USD0.02 53217R207 $ 1,334 50,782 X 50,782 LIFELINE SYSTEMS COM STK USD0.02 532192101 $ 1,867 62,144 X 62,144 LIGHTBRIDGE INC COM USD0.01 532226107 $ 150 24,877 X 24,877 LILLY(ELI)+ CO COM STK NPV 532457108 $ 2,094 39,363 X 39,363 LIMITED BRANDS INCORPORATED COM USD0.50 532716107 $ 2,135 86,606 X 86,606 LINCOLN NATIONAL CORP COM STK NPV 534187109 $ 654 14,378 X 14,378 LOCKHEED MARTIN CORP COM STK USD1 539830109 $ 363 5,801 X 5,801 LOWE'S COS INC COM USD0.50 548661107 $ 1,033 18,171 X 18,171 LUCENT TECHNOLOGIES INCORPORATED COM USD0.01 549463107 $ 131 51,861 X 51,861 MARLIN BUSINESS SERVICES CORP COM USD0.01 571157106 $ 4,639 230,039 X 230,039 MARRAKECH LIMITED SERIES B CONV RED PRF SHARES 9123726 $ 375 3,490,277 X 3,490,277 MARRAKECH LTD SERIES A PREFERENCE SHS 9142691 $ 125 10,980 X 10,980 MARSH & MCLENNAN COS INC COM USD1 571748102 $ 201 6,699 X 6,699 MATTEL INC COM STK USD1 577081102 $ 573 27,306 X 27,306 MAXIM INTEGRATED PRODUCTS COM STK USD0.001 57772K101 $ 4,899 121,153 X 121,153 MAY DEPARTMENT STORES COMPANY COM USD0.50 577778103 $ 2,380 63,814 X 63,814 MBNA CORP COM USD0.01 55262L100 $ 798 32,029 X 32,029 MCAFEE INC COM COM STK USD0.01 579064106 $ 1,147 51,791 X 51,791 MCDONALD'S CORP COM STK USD0.01 580135101 $ 11,512 368,782 X 368,782 MCGRAW-HILL COS INC (THE) COM STK USD1 580645109 $ 201 2,313 X 2,313 MEADWESTVACO CORPORATION COM USD0.01 583334107 $ 976 31,197 X 31,197 MECHEL LEVEL 3 SPONS ADR (3 FOR1) 583840103 $ 2,642 95,300 X 95,300 MEDCOHEALTH SOLUTIONS COM USD0.01 58405U102 $ 8,997 173,742 X 173,742 MEDTRONIC INC COM USD0.10 585055106 $ 1,479 28,796 X 28,796 MEMC ELECTRONIC MATERIALS COM USD0.01 552715104 $ 469 35,650 X 35,650 MERCK & CO INC COM USD0.01 589331107 $ 4,913 148,670 X 148,670 MERCURY INTERACTIVE COM STK USD0.002 589405109 $ 2,326 50,869 X 50,869 MERRILL LYNCH & CO INC COM STK USD1.333 590188108 $ 15,244 271,502 X 271,502 METLIFE INC COM STK USD0.01 59156R108 $ 2,840 71,399 X 71,399 MGIC INVESTMENT CORP COM STK USD1 552848103 $ 227 3,721 X 3,721 MGM MIRAGE INC COM USD0.01 552953101 $ 4,782 68,351 X 68,351 MICROCHIP TECHNOLOGY COM STK USD0.001 595017104 $ 1,237 49,279 X 49,279 MICRON TECHNOLOGY INC COM STK USD0.10 595112103 $ 6,833 677,591 X 677,591 MICROSOFT CORP COM STK USD0.0000125 594918104 $ 30,934 1,264,301 X 1,264,301 MONSTER WORLDWIDE COM USD0.001 611742107 $ 3,192 110,559 X 110,559 MORGAN STANLEY COM USD0.01 617446448 $ 12,165 215,521 X 215,521 MOSAIC CO COM STK USD0.01 61945A107 $ 1,704 106,372 X 106,372 MOTION ANALYSIS COMMON 9010027 $ 188 187,955 X 187,955 MOTION ANALYSIS SERIES 1 PREFERRED STOCK 9032230 $ 999 999,120 X 999,120 MOTOROLA INC COM STK USD3 620076109 $ 2,579 171,550 X 171,550 MSC INDUSTRIAL DIRECT CO CLASS'A'COM STK USD0.001 553530106 $ 906 30,453 X 30,453 MTC TECHNOLOGIES INC COM STK USD0.001 55377A106 $ 1,718 53,054 X 53,054 NABORS INDUSTRIES LTD COM STK USD0.001 G6359F103 $ 1,802 30,104 X 30,104 NATIONAL CITY CORP COM STK USD4 635405103 $ 3,557 106,279 X 106,279 NATIONAL SEMICONDUCTOR COM USD0.50 637640103 $ 2,687 134,566 X 134,566 NAUTILUS GROUP INC COM NPV 63910B102 $ 1,790 74,628 X 74,628 NAVIGANT CONSULTING COM STK USD0.001 63935N107 $ 1,762 64,035 X 64,035 NEW FRONTIER MEDIA COM USD0.0001 644398109 $ 996 138,282 X 138,282 NEWCASTLE INVESTMENT CORP COM USD0.01 65105M108 $ 4,290 150,000 X 150,000 NEWCASTLE INVESTMENT CORP COM USD0.01 (HOLDING CORP) 9053890 $ 338 150,000 X 150,000 NEWCASTLE INVESTMENT CORP COM USD0.01 RESTRICTED 9147663 $ 150,000 X 150,000 NEWFIELD EXPLORATION CO COM STK USD0.01 651290108 $ 322 4,222 X 4,222 NEWMONT MINING CORP COM USD1.60 651639106 $ 215 5,143 X 5,143 NEWS CORP CDI NPV CLS'B' DFD B03Q907 $ 359 15,995 X 15,995 NEWS CORP COM USD0.01 CLS'A' 65248E104 $ 31,661 1,887,925 X 1,887,925 NEWS CORP COM USD0.01 CLS'B' 65248E203 $ 2,184 126,437 X 126,437 NEXTEL COMMUNICATIONS INC CLASS'A'COM USD0.001 65332V103 $ 1,014 35,117 X 35,117 NEXTEL PARTNERS CLASS'A' COM STK USD0.001 65333F107 $ 3,358 148,701 X 148,701 NIKE INC CLASS'B'COM NPV 654106103 $ 257 3,098 X 3,098 NOKIA OYJ ADR REP 1 EUR0.06 SER'A'-DTC 654902204 $ 183 12,020 X 12,020 NORDSTROM INC COM NPV 655664100 $ 1,930 34,954 X 34,954 NORFOLK SOUTHERN CORP COM STK USD1 655844108 $ 12,530 341,024 X 341,024 NORTHROP GRUMMAN COM STK USD1 666807102 $ 1,514 27,375 X 27,375 NUCOR CORP COM STK USD0.40 670346105 $ 3,765 65,118 X 65,118 NVIDIA CORP COM STK USD0.001 67066G104 $ 2,417 105,160 X 105,160

NVR INC COM USD0.01 62944T105 $ 1,709 2,146 X 2,146 OCCIDENTAL PETROLEUM CORP COM USD0.20 674599105 $ 12,025 164,619 X 164,619 OFFICE DEPOT INC COM STK USD0.01 676220106 $ 541 24,327 X 24,327 OIL & NATUTAL GAS P-NOTE 6139362 (CITI) 173073172 $ 7,011 336,650 X 336,650 OLD DOMINION FREIGHT LINE INC COM STK USD0.10 679580100 $ 1,604 48,436 X 48,436 OMNICOM GROUP INC COM STK USD0.15 681919106 $ 293 3,376 X 3,376 ORACLE CORPORATION COM USD0.01 68389X105 $ 5,406 434,261 X 434,261 ORBOTECH ORD ILS0.14 M75253100 $ 10,653 492,400 X 492,400 OVERSEAS SHIPHOLDING GROUP INC COM STK USD1 690368105 $ 6,623 104,500 X 104,500 P.F. CHANGS CHINA BISTRO COM STK USD0.001 69333Y108 $ 1,135 19,636 X 19,636 PACCAR INC COM STK USD1 693718108 $ 1,208 16,849 X 16,849 PACIFIC SUNWEAR CALIFORNIA INC COM STK USD0.01 694873100 $ 1,109 39,950 X 39,950 PAO DE ACUCAR CBD ADR(REP 1000 PREF SHS-DTC) 20440T201 $ 10,587 513,880 X 513,880 PAREXEL INTERNATIONAL CORP COM STK US 1/2 0.01 699462107 $ 2,540 106,876 X 106,876 PARTNERRE LTD COM USD1 G6852T105 $ 498 7,755 X 7,755 PEABODY ENERGY COR COM STK USD0.01 704549104 $ 10,008 214,814 X 214,814 PECO II INC COM STK NPV 705221109 $ 554 503,746 X 503,746 PEPSIAMERICAS INC COM USD0.01 71343P200 $ 766 33,297 X 33,297 PEPSICO INC CAP USD0.016666 713448108 $ 7,458 140,710 X 140,710 PERDIGAO SA ADR(2 PRF LVL 1-DTC) 71361V303 $ 3,053 78,569 X 78,569 PETROBRAS ENERGIA SA ADR(10 CLS'B'-DTC) 71646M102 $ 498 40,845 X 40,845 PETROCHINA CO ADS REP 100 HKD0.10'H' LVIII-DTC 71646E100 $ 2,903 45,359 X 45,359 PETROL BRASILEIRO- ADR(EACH REP 100 PRF SHS PETROBRAS NPV-DTC) 71654V101 $ 16,982 441,116 X 441,116 PETROL BRASILEIROS ADS(EACH 1 REP 1 COM NPV-DTC) 71654V408 $ 20,703 468,238 X 468,238 PETSMART INC COM STK US 1/2 0.0001 716768106 $ 632 22,359 X 22,359 PFIZER INC COM STK USD0.05 717081103 $ 13,959 518,758 X 518,758 PG + E CORP(HLDGS) COM STK NPV (US-EX) 69331C108 $ 1,260 36,046 X 36,046 PHARMACEUTICAL PRODUCT DEVELOPMENT COM STK USD0.10 717124101 $ 1,657 33,582 X 33,582 PHELPS DODGE CORP COM STK USD6.25 717265102 $ 6,338 62,906 X 62,906 PIONEER NATURAL RESOURCES CO COM STK USD0.01 723787107 $ 2,418 54,379 X 54,379 PLACER SIERRA BANCSHARES COM NPV 726079106 $ 1,110 49,914 X 49,914 PNC FINANCIAL SERVICES GROUP COM USD5 693475105 $ 327 6,358 X 6,358 PORTFOLIO RECOVERY ASSOCIATES INC COM USD0.01 73640Q105 $ 3,095 88,153 X 88,153 POSCO ADR REP 1/4 ORD COM SHS DTC 693483109 $ 1,163 23,778 X 23,778 PPG INDUSTRIES INC COM STK USD1.666 693506107 $ 499 7,023 X 7,023 PPL CORP COM STK USD0.01 69351T106 $ 384 7,143 X 7,143 PRAXAIR INCORPORATED COM USD0.01 74005P104 $ 9,835 205,880 X 205,880 PRECISION CASTPARTS COM NPV 740189105 $ 909 11,803 X 11,803 PRESTIGE BRANDS HLDGS INC COM STK USD0.001 74112D101 $ 1,799 105,940 X 105,940 PRIMUS GUARANTY COM USD0.01 G72457107 $ 982 74,118 X 74,118 PROCTER & GAMBLE CO COM STK NPV 742718109 $ 8,107 150,131 X 150,131 PROGRESSIVE CORP(OHIO) COM STK US 1/2 1 743315103 $ 238 2,627 X 2,627 PROVIDENT BANKSHARES CORP COM STK US 1/2 1 743859100 $ 1,528 46,862 X 46,862 PROVIDIAN FINANCIAL CORP COM USD0.01 74406A102 $ 10,504 611,381 X 611,381 PRUDENTIAL FINANCIAL INC COM STK USD0.01 744320102 $ 5,645 98,145 X 98,145 PULTE HOMES COM STK USD0.01 745867101 $ 495 6,671 X 6,671 QLOGIC CORP COM USD0.001 747277101 $ 3,504 87,481 X 87,481 QUALCOMM INC COM STK USD0.0001 747525103 $ 8,224 230,657 X 230,657 QUEST SOFTWARE INC COM STK NPV 74834T103 $ 1,630 130,536 X 130,536 QWEST COMMUNICATIONS INTL INC COM STK USD0.01 749121109 $ 94 24,460 X 24,460 RADIOSHACK CORP COM STK USD1 750438103 $ 611 24,424 X 24,424 RARE HOSPITALITY COM NPV 753820109 $ 766 24,840 X 24,840 RAYTHEON CO COM USD0.01 755111507 $ 567 14,498 X 14,498 RESMED INC COM STK USD0.004 761152107 $ 954 16,598 X 16,598 RETALIX LIMITED ILS1 (US-EX) 2267728 $ 11,686 488,600 X 488,600 REYNOLDS AMERICAN INC COM STK USD0.0001 761713106 $ 2,345 29,554 X 29,554 ROCKWELL AUTOMATION INC NEW COM USD1 773903109 $ 2,196 39,165 X 39,165 ROWAN COS INC COM USD0.125 779382100 $ 8,982 299,305 X 299,305 ROYAL CARIBBEAN CRUISES COM USD0.01 V7780T103 $ 995 22,620 X 22,620 RYDER SYSTEM INC COM STK USD0.50 783549108 $ 590 14,100 X 14,100 RYLAND GROUP INC COM USD1 783764103 $ 4,740 75,000 X 75,000 S1 CORPORATION COM USD0.01 78463B101 $ 503 76,682 X 76,682 SADIA SA ADR EACH 1 REP 10 PRF SHS N 786326108 $ 540 34,400 X 34,400 SALESFORCE.COM INC COM USD0.001 79466L302 $ 788 51,609 X 51,609 SARA LEE CORP COM STK USD0.01 803111103 $ 208 9,422 X 9,422 SASOL ADR(EACH CNV INTO 1 ORD-ECL) 803866300 $ 2,587 100,450 X 100,450 SBC COMMUNICATIONS INC COM STK USD1 78387G103 $ 3,643 150,543 X 150,543 SCANDINAVIAN BROADCASTING SYSTEMS COM STK USD1.50 L8137F102 $ 27,884 627,952 X 627,952 SCHERING-PLOUGH CORP COM STK USD0.50 806605101 $ 332 17,923 X 17,923 SCHLUMBERGER COM STK USD0.01 806857108 $ 7,835 110,647 X 110,647 SCHWAB(CHARLES)CORP COM STK USD0.01 808513105 $ 410 38,399 X 38,399 SEAGATE TECHNOLOGY (ESCROW RECEIPTS) 9108529 $ 13,260 X 13,260 SEAGATE TECHNOLOGY HLDGS COM USD0.00001 G7945J104 $ 631 33,445 X 33,445 SEARS HLGS CORP COM USD0.01 812350106 $ 1,343 9,608 X 9,608

SEITEL INC COM STK USD0.01(NEW) 816074405 $ 206 140,000 X 140,000 SEMPRA ENERGY CORP COM STK NPV 816851109 $ 1,473 36,529 X 36,529 SHELL TRANSPORT & TRADING CO ADR - ECH CNV TO 6 ORD GBP.025 822703609 $ 1,317 24,100 X 24,100 SHERWIN WILLIAMS + COMPANY COM USD1 824348106 $ 7,009 162,240 X 162,240 SHINHAN FIN GRP CO SPONSADR REP 2 ORD KRW5000 824596100 $ 1,530 27,500 X 27,500 SIEBEL SYSTEMS INC COM STK USD0.001 826170102 $ 369 40,282 X 40,282 SILICONWARE PRECISION INDUSTRIES CO ADR REP 5 ORD TWD10-DTC 827084864 $ 1,475 327,670 X 327,670 SIMON PROPERTY GROUP INC COM USD0.0001 828806109 $ 283 4,759 X 4,759 SIRIUS SATELLITE RADIO COM USD0.001 82966U103 $ 94 16,894 X 16,894 SK TELECOM ADR-1/90 KRW5000-DTC 78440P108 $ 3,897 202,150 X 202,150 SKILLSET SOFTWARE, INC SERIES 'A' PREFERRED STOCK(*SUSPENDED) 9078677 $ 445,000 X 445,000 SLM CORPORATION SECURITIES COM STK USD0.20 78442P106 $ 428 8,481 X 8,481 SMITH INTERNATIONAL INC COM STK USD1 832110100 $ 281 4,522 X 4,522 SMURFIT-STONE CONTAINER CORP COM STK USD0.01 832727101 $ 1,469 96,325 X 96,325 SOCIEDAD QUIMICA Y MINERA DE CHILE ADR(EACH REP 10 SER'B'NPV-DTC) 833635105 $ 1,107 13,500 X 13,500 SOLECTRON CORP COM STK USD0.001 834182107 $ 39 11,059 X 11,059 SOUTHERN CO COM STK USD5 842587107 $ 1,315 40,890 X 40,890 SOUTHWEST AIRLINES CO COM STK USD1 844741108 $ 725 50,699 X 50,699 SPDR TRUST UNITS SER 1 NPV (ETF) 78462F103 $ 284 2,400 X 2,400 SPRINT CORP COM STK USD2.00 852061100 $ 2,065 88,895 X 88,895 ST JOE COMPANY COM NPV 790148100 $ 10,586 156,623 X 156,623 ST PAUL TRAVELERS COMPANIES INC COM NPV 792860108 $ 304 8,610 X 8,610 ST.JUDE MEDICAL INC COM STK USD0.10 790849103 $ 4,090 111,614 X 111,614 STANDARD PARKING COM USD0.001 853790103 $ 2,116 133,200 X 133,200 STAPLES INC COM STK USD0.0006 855030102 $ 1,290 40,744 X 40,744 STARBUCKS CORPORATION COM USD0.001 855244109 $ 5,927 114,618 X 114,618 STARWOOD HOTELS & RESORTS WORLDWIDE PAIRED CERTS CLASS'B' USD0.01 85590A203 $ 14,487 241,096 X 241,096 STORAGE TECHNOLOGY COM STK USD0.1 862111200 $ 839 28,210 X 28,210 SUN MICROSYSTEMS INC COM STK USD0.00067 866810104 $ 157 39,050 X 39,050 SUNOCO INC COM STK USD1 86764P109 $ 2,725 25,942 X 25,942 SUNTRUST BANKS COM STK USD1 867914103 $ 970 13,549 X 13,549 SUPERVALU INC COM USD1 868536103 $ 1,635 49,049 X 49,049 SYMANTEC CORP COM STK USD0.01 871503108 $ 1,545 73,656 X 73,656 SYMBION INC COM USD0.01 871507109 $ 1,187 51,800 X 51,800 SYMYX TECHNOLOGIES INC COM STK USD0.001 87155S108 $ 785 34,593 X 34,593 SYNERON MEDICAL LTD ILS0.01 (US-EX) M87245102 $ 2,537 82,198 X 82,198 SYNTHES INC CHF0.001(POST SUB) 87162M409 $104,120 772,257 X 772,257 SYSCO CORP COM STK USD1 871829107 $ 301 8,238 X 8,238 TAIWAN SEMICONDUCTOR MANUFACTURING ADS(EACH REP 5 ORD TWD10-DTC) 874039100 $ 12,629 1,494,568 X 1,494,568 TARGET CORP COM USD0.0833 87612E106 $ 1,081 21,447 X 21,447 TECH DATA CORP COM STK USD0.0015 878237106 $ 529 14,410 X 14,410 TELE NORTE LESTE PARTICIPACOES ADR(EACH REP 1 PRF NPV BNY-DTC) 879246106 $ 20,067 1,306,891 X 1,306,891 TELECOM ARGENTINA STET- FRAN TEL S.A ADR(EACH REP 5 CLS'B'SHS-DTC) 879273209 $ 2,894 229,700 X 229,700 TELECOM CORP OF NEW ZEALAND ADR CNV INTO 8 ORD NPV-DTC 879278208 $ 947 27,410 X 27,410 TELECOMUNICACOES DE SAO PAULO-TELES ADR(EACH REP 1000 PRF NPV-DTC) 87929A102 $ 2,257 116,182 X 116,182 TELEWEST GLOBAL INC COM USD0.01 87956T107 $ 9,525 537,935 X 537,935 TELVUE CORP COM STK USD0.01 87970K108 $ 5 180,000 X 180,000 TEMPUR PEDIC INTERNATIONAL INC COM USD0.01 88023U101 $ 1,630 85,380 X 85,380 TENARIS SA ADR (REP 9.1466 ORD) 88031M109 $ 9,792 157,000 X 157,000 TEXAS INSTRUMENTS COM USD1 882508104 $ 1,225 49,257 X 49,257 TEXTRON INC COM STK USD0.125 883203101 $ 2,557 33,847 X 33,847 THERMO ELECTRON CORP COM STK USD1 883556102 $ 587 23,486 X 23,486 TIM PARTICIPACOES ADR(EACH REP 10000PRF NPV-DTC) 88706P106 $ 2,161 148,400 X 148,400 TIME WARNER INC COM STK USD0.01 887317105 $ 2,252 127,093 X 127,093 TIMKEN CO COM STK NPV 887389104 $ 460 16,810 X 16,810 TJX COS INC COM USD1 872540109 $ 8,470 345,092 X 345,092 TRANSACTION SYSTEMS ARCHITECTS INC CLASS'A'COM STK USD0.005 893416107 $ 1,569 67,500 X 67,500 TRIAD HOSPITALS INC COM STK USD0.01 89579K109 $ 2,942 58,914 X 58,914 TRIMBLE NAVIGATION COM STK NPV 896239100 $ 1,735 50,210 X 50,210 TRINTECH GROUP ADR REP 2 ORD IEP0.0027 896682200 $ 7,764 1,379,018 X 1,379,018 TURKCELL ILETISM ADS EA REPR 2500 ORD SHS 900111204 $ 5,476 324,420 X 324,420 TV AZTECA ADS(EACH 1 REP 16 ORD PTG CRTS-DTC) 901145102 $ 1,170 136,845 X 136,845 TXU CORP COM NPV 873168108 $ 4,832 59,022 X 59,022 TYCO INTERNATIONAL LTD COM STK USD0.20 902124106 $ 13,954 420,757 X 420,757 ULTIMATE SOFTWARE INC COM USD0.01 90385D107 $ 1,426 90,562 X 90,562 ULTRALIFE BATTERIES INC COM USD0.10 903899102 $ 1,789 101,440 X 101,440 UNIBANCO HLDGS SA GDR(EACH REPR 5 UNITS-DTC) 90458E107 $ 8,227 248,200 X 248,200 UNION PACIFIC CORP COM STK USD2.50 907818108 $ 222 3,221 X 3,221 UNITED HEALTHCARE GROUP COM STK USD0.01 91324P102 $ 21,294 217,521 X 217,521 UNITED PARCEL SERVICE INC CLASS'B'COM STK 911312106 $ 569 7,797 X 7,797 UNITED SURGICAL PARTNERS COM STK USD0.01 913016309 $ 1,631 35,549 X 35,549 UNITED TECHNOLOGIES CORP COM STK USD1 913017109 $ 14,066 140,925 X 140,925 UNIVERSAL TRUCKLOAD SERVICES INC COM NPV 91388P105 $ 2,790 135,100 X 135,100 UNOCAL CORP COM STK USD1 915289102 $ 209 3,585 X 3,585

US BANCORP DELAWARE COM STK USD0.01 902973304 $ 796 27,856 X 27,856 USI HOLDINGS CORP COM STK USD0.01 90333H101 $ 201 17,440 X 17,440 VALERO ENERGY CORP(NEW) COM STK USD0.01 91913Y100 $ 1,244 16,498 X 16,498 VARIAN MEDICAL SYSTEMS INC COM USD1 92220P105 $ 1,032 30,476 X 30,476 VCA ANTECH INC COM STK USD0.001 918194101 $ 1,761 88,352 X 88,352 VCGA III B RED PREF 9100503 $ 242 9,300 X 9,300 VENCAP 7 LLC ORD USD 9071449 $ 8,177 2,000,000 X 2,000,000 VENCAP 9 LLC II LLC CLASS 'B' USD 9089301 $ 8,397 2,000,000 X 2,000,000 VENCAP SYNDICATION TRUST CLASS 121202 9128204 $ 7,311 8,000,000 X 8,000,000 VERISIGN COM STK USD0.001 92343E102 $ 2,640 93,103 X 93,103 VERITAS SOFTWARE COM STK USD0.001 923436109 $ 382 16,872 X 16,872 VERIZON COMMUNICATION COM STK USD0.10 92343V104 $ 5,527 154,500 X 154,500 VF CORPORATION COMMON NPV 918204108 $ 3,789 64,154 X 64,154 VIACOM INC NON VTG COM STK US 1/2 0.01 CLASS'B' 925524308 $ 12,203 344,625 X 344,625 VIMPEL COMMUNICATIONS ADR(REP 1/4 ORD RUR5-DTC) 68370R109 $ 13,719 391,750 X 391,750 VISTACARE INC CLASS'A'COM USD0.01 92839Y109 $ 1,669 87,994 X 87,994 VNUS MEDICAL TECHNOLOGIES INC COM USD0.001 928566108 $ 1,700 150,912 X 150,912 VODAFONE GROUP ADR-REP 10 ORD USD0.10-DTC 92857W100 $ 234 8,820 X 8,820 VOLTERRA SEMICOND COM USD0.001 928708106 $ 761 57,823 X 57,823 WACHOVIA CORP COM USD3.333 1/3 929903102 $ 7,008 138,127 X 138,127 WADDELL & REED FINANCIAL INC CLASS'A'COM STK USD0.01 930059100 $ 5,692 293,400 X 293,400 WAL-MART STORES COM USD0.10 931142103 $ 5,317 107,051 X 107,051 WALGREEN COMPANY COM USD0.078125 931422109 $ 566 12,689 X 12,689 WALT DISNEY(HLDG) COMPANY COM STK USD0.01 254687106 $ 19,952 699,176 X 699,176 WASHINGTON MUTUAL INC COM NPV 939322103 $ 418 10,796 X 10,796 WASTE MANAGEMENT COM STK USD0.01 94106L109 $ 223 7,544 X 7,544 WATERS CORP COM STK USD0.01 941848103 $ 1,044 29,221 X 29,221 WEATHERFORD INTERNATIONAL LIMITED COM USD1 G95089101 $ 1,476 25,621 X 25,621 WELLCARE HEALTH PLANS INC COM USD0.01 94946T106 $ 1,648 53,200 X 53,200 WELLMAN INC COM STK USD0.001 949702104 $ 216 15,000 X 15,000 WELLPOINT INC COM USD0.01 94973V107 $ 2,061 16,206 X 16,206 WELLS FARGO & CO COM STK USD1 2/3 949746101 $ 3,085 51,688 X 51,688 WEYERHAEUSER CO COM STK USD1.25 (US-EX) 962166104 $ 204 2,913 X 2,913 WILLIAMS COMPANIES INC COM STK US 1/2 1 969457100 $ 7,179 381,140 X 381,140 WISCONSIN ENERGY COM USD0.01 976657106 $ 201 5,654 X 5,654 WYETH COM USD0.333 983024100 $ 708 16,798 X 16,798 XEROX CORP COM STK USD1 984121103 $ 709 47,032 X 47,032 XILINX INC COM STK US 1/2 0.01 983919101 $ 725 24,600 X 24,600 XL TECHGROUP INC COM STK USD0.001 'REGS' B034YT5 $ 1,233 414,399 X 414,399 XTO ENERGY INC COM STK USD0.01 98385X106 $ 1,527 43,936 X 43,936 YAHOO INC COM USD0.001 984332106 $ 15,081 428,994 X 428,994 ZEBRA TECHNOLOGY CLASS'A'COM STK USD0.01 989207105 $ 1,192 24,829 X 24,829 ZIMMER HOLDINGS INC COM STK USD0.01 98956P102 $ 229 2,987 X 2,987 ZIONS BANCORP COM STK NPV 989701107 $ 1,374 19,951 X 19,951

GARTMORE GLOBAL ASSET MANAGEMENT LTD 13F-HR