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, 2001

If amended report check here:

Institutional Investment Manager Filing This Report:
Name:                                               The St. Paul Companies, Inc.
Address:                                            385 Washington Street
                                                    St. Paul, MN  55102-1396

13F File Number:                                    28-62

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:                                                      Bruce Backberg





Title:                                                     Corporate Secretary
Phone:                                                     (651) 310-7916

Signature, Place and Date of signing:

/s/ Bruce Backberg, St. Paul, Minnesota, May 15, 2001

Report Type (Check only one.):

[X]  13F HOLDINGS REPORT
[ ]  13F NOTICE
[ ]  13F COMBINATION REPORT

List of Other Managers Reporting for this Manager:


I AM SIGNING THIS REPORT AS REQUIRED BY THE SECURITIES EXCHANGE ACT OF 1934.

                                              FORM 13F SUMMARY PAGE

Report Summary:

Number of Other Included Managers:                             1
Form 13F Information Table Entry Total:                      353
Form 13F Information Table Value Total:               $1,451,541

List of Other Included Managers:

No.         13F Filing Number       Name
01          28-29                   ST. PAUL FIRE AND MARINE INSURANCE COMPANY




                                                                FORM 13F INFORMATION TABLE

NAME OF ISSUER                    TITLE     CUSIP      VALUE       SHARES   SH/  PUT/   INVESTMT  OTHER     VOTING  AUTHORITY
                                OF CLASS              (X$1000)    PRN/AMT   PRN  CALL   DSCRETN   MANAGERS   SOLE     SHARED   NONE
                                                                                             
AFLAC INC                          COMM    001055102        80       2,920  SH           SHARED                         2,920
AOL TIME WARNER INC                COMM    00184A105       973      24,225  SH           SHARED                        24,225
AOL TIME WARNER INC                COMM    00184A105    25,839     643,560  SH           SHARED                       643,560
AOL TIME WARNER INC                COMM    00184A105    17,773     442,671  SH             SOLE              442,671
AMERICAN TELEPHONE &
 TELEGRAPH CO.                     COMM    001957109       171       8,050  SH           SHARED                         8,050
AT&T CORP - LIBERTY MEDIA CL A     COMM    001957208     9,274     662,400  SH           SHARED                       662,400





NAME OF ISSUER                    TITLE     CUSIP      VALUE       SHARES   SH/  PUT/   INVESTMT  OTHER     VOTING  AUTHORITY
                                OF CLASS              (X$1000)    PRN/AMT   PRN  CALL   DSCRETN   MANAGERS   SOLE      SHARED  NONE
                                                                                              
AT&T CORP - LIBERTY MEDIA CL A     COMM    001957208     6,139     438,482  SH             SOLE              438,482
ABBOTT LABORATORIES                COMM    002824100       156       3,310  SH           SHARED                         3,310
ABBOTT LABORATORIES                COMM    002824100    10,618     225,000  SH           SHARED                       225,000
ABBOTT LABORATORIES                COMM    002824100     6,922     146,680  SH             SOLE              146,680
AGILENT TECH                       COMM    00846U101        32       1,029  SH           SHARED                         1,029
ALCOA INC                          COMM    013817101     3,236      90,000  SH           SHARED                        90,000
ALCOA INC                          COMM    013817101     2,109      58,670  SH             SOLE               58,670
ALLIANCE CAP                       COMM    01855A101        56       1,370  SH           SHARED                         1,370
ALLIED WASTE                       COMM    019589308        90       5,730  SH           SHARED                         5,730
ALLSTATE CORP.                     COMM    020002101       315       7,500  SH           SHARED                         7,500
AMERICAN EXPRESS COMPANY           COMM    025816109       838      20,290  SH           SHARED                        20,290
AMERICAN EXPRESS COMPANY           COMM    025816109     5,538     134,100  SH           SHARED                       134,100
AMERICAN EXPRESS COMPANY           COMM    025816109     2,857      69,169  SH             SOLE               69,169
AMERICAN HOME PRODUCTS             COMM    026609107       166       2,830  SH           SHARED                         2,830
AMERICAN HOME PRODUCTS             COMM    026609107    11,633     198,000  SH           SHARED                       198,000
AMERICAN HOME PRODUCTS             COMM    026609107     7,322     124,630  SH             SOLE              124,630
AMERICAN INTERNATIONAL GROUP, INC. COMM    026874107     1,220      15,152  SH           SHARED                        15,152
AMERICAN INTERNATIONAL GROUP, INC. COMM    026874107    30,992     384,990  SH           SHARED                       384,990
AMERICAN INTERNATIONAL GROUP, INC. COMM    026874107    19,589     243,347  SH             SOLE              243,347
ANADARKO PETROLEUM CO              COMM    032511107        43         690  SH           SHARED                           690
ANHEUSER BUSCH COS. INC.           COMM    035229103       138       3,010  SH           SHARED                         3,010
ANHEUSER BUSCH COS. INC.           COMM    035229103     4,611     100,400  SH           SHARED                       100,400
ANHEUSER BUSCH COS. INC.           COMM    035229103     2,942      64,050  SH             SOLE               64,050
APPLIED MATERIALS, INC.            COMM    038222105     5,923     136,150  SH           SHARED                       136,150
APPLIED MATERIALS, INC.            COMM    038222105     3,870      88,970  SH             SOLE               88,970
APPLIED MICRO CIRCUIT CORP.        COMM    03822W109        10         620  SH           SHARED                           620
APPLIED MICRO CIRCUIT CORP.        COMM    03822W109     2,228     135,000  SH           SHARED                       135,000
APPLIED MICRO CIRCUIT CORP.        COMM    03822W109     1,487      90,100  SH             SOLE               90,100
ATMEL CORP.                        COMM    049513104     5,783     589,300  SH           SHARED                       589,300
ATMEL CORP.                        COMM    049513104     3,766     383,750  SH             SOLE              383,750
AUTODESK, INC                      COMM    052769106        33       1,090  SH           SHARED                         1,090
AUTOMATIC DATA PROCESSING          COMM    053015103        76       1,390  SH           SHARED                         1,390
AUTOMATIC DATA PROCESSING          COMM    053015103     2,884      53,040  SH           SHARED                        53,040
AUTOMATIC DATA PROCESSING          COMM    053015103     1,735      31,900  SH             SOLE               31,900
AUTONATION INC.                    COMM    05329W102       119      13,270  SH           SHARED                        13,270
BB&T CORP                          COMM    054937107       160       4,550  SH           SHARED                         4,550
BP AMOCO PLC (ADR)                 COMM    055622104       500      10,080  SH           SHARED                        10,080
BP AMOCO PLC (ADR)                 COMM    055622104     3,999      80,596  SH           SHARED                        80,596
BP AMOCO PLC (ADR)                 COMM    055622104     2,002      40,352  SH             SOLE               40,352
BANK OF AMERICA CORP               COMM    060505104       196       3,580  SH           SHARED                         3,580
BANK OF NEW YORK CO., INC.         COMM    064057102        80       1,630  SH           SHARED                         1,630
BANK OF NEW YORK CO., INC.         COMM    064057102    10,340     210,000  SH           SHARED                       210,000
BANK OF NEW YORK CO., INC.         COMM    064057102     6,894     140,000  SH             SOLE              140,000
BANK ONE CORP.                     COMM    06423A103        91       2,520  SH           SHARED                         2,520
BAXTER INTERNATIONAL INC.          COMM    071813109     5,648      60,000  SH           SHARED                        60,000
BAXTER INTERNATIONAL INC.          COMM    071813109     3,766      40,000  SH             SOLE               40,000
BELL SOUTH CORP.                   COMM    079860102       389       9,500  SH           SHARED                         9,500
BERKSHIRE HATHAWAY A               COMM    084670108       655          10  SH           SHARED                            10






NAME OF ISSUER                    TITLE     CUSIP      VALUE       SHARES   SH/  PUT/   INVESTMT  OTHER     VOTING  AUTHORITY
                                OF CLASS              (X$1000)    PRN/AMT   PRN  CALL   DSCRETN   MANAGERS   SOLE      SHARED  NONE
                                                                                              
BERKSHIRE HATHAWAY A               COMM    084670108     8,181         124  SH           SHARED                           124
BERKSHIRE HATHAWAY A               COMM    084670108     4,974          73  SH             SOLE                   73
BOEING COMPANY                     COMM    097023105       181       3,250  SH           SHARED                         3,250
BRISTOL-MYERS SQUIBB CO.           COMM    110122108       248       4,170  SH           SHARED                         4,170
BRISTOL-MYERS SQUIBB CO.           COMM    110122108    10,122     170,400  SH           SHARED                       170,400
BRISTOL-MYERS SQUIBB CO.           COMM    110122108     7,717     129,916  SH             SOLE              129,916
BROADCOM CORP                      COMM    111320107        13         440  SH           SHARED                           440
CSX CORP                           COMM    126408103     4,044     120,000  SH           SHARED                       120,000
CSX CORP                           COMM    126408103     2,576      76,450  SH             SOLE               76,450
CVS CORP.                          COMM    126650100        85       1,460  SH           SHARED                         1,460
CDN PAC LTD                        COMM    135923100        79       2,160  SH           SHARED                         2,160
CARDINAL HEALTH INC.               COMM    14149Y108        60         620  SH           SHARED                           620
CATELLUS DEVELOPMENT               COMM    149111106       107       6,780  SH           SHARED                         6,780
CELESTICA                          COMM    15101Q108     5,240     190,000  SH           SHARED                       190,000
CELESTICA                          COMM    15101Q108     3,937     142,740  SH             SOLE              142,740
CHEVRON CORP                       COMM    166751107       122       1,390  SH           SHARED                         1,390
CISCO SYSTEMS INC.                 COMM    17275R102       286      18,080  SH           SHARED                        18,080
CISCO SYSTEMS INC.                 COMM    17275R102    12,930     817,720  SH           SHARED                       817,720
CISCO SYSTEMS INC.                 COMM    17275R102     8,816     557,522  SH             SOLE              557,522
CITIGROUP INC                      COMM    172967101       499      11,100  SH           SHARED                        11,100
CITIGROUP INC                      COMM    172967101    32,063     712,824  SH           SHARED                       712,824
CITIGROUP INC                      COMM    172967101    21,109     469,305  SH             SOLE              469,305
CLEAR CHANNEL                      COMM    184502102     9,380     172,260  SH           SHARED                       172,260
CLEAR CHANNEL                      COMM    184502102     6,689     122,841  SH             SOLE              122,841
COCA COLA CO                       COMM    191216100       242       5,360  SH           SHARED                         5,360
COCA COLA CO                       COMM    191216100    13,191     292,100  SH           SHARED                       292,100
COCA COLA CO                       COMM    191216100     8,768     194,163  SH             SOLE              194,163
COLGATE POLMOLIVE CO               COMM    194162103        67       1,210  SH           SHARED                         1,210
COMPAQ COMPUTER                    COMM    204493100       141       7,770  SH           SHARED                         7,770
COMPUTER ASSOCIATES INTL, INC.     COMM    204912109        39       1,450  SH           SHARED                         1,450
COMPUTER SCIENCES CORP             COMM    205363104        40       1,230  SH           SHARED                         1,230
COMVERSE TECHNOLOGY                COMM    205862402     8,002     135,880  SH           SHARED                       135,880
COMVERSE TECHNOLOGY                COMM    205862402     5,192      88,160  SH             SOLE               88,160
CONCORD EFS INC.                   COMM    206197105        76       1,870  SH           SHARED                         1,870
CORNING INC.                       COMM    219350105     2,191     105,920  SH           SHARED                       105,920
CORNING INC.                       COMM    219350105     1,715      82,890  SH             SOLE               82,890
DELL COMPUTER CORP                 COMM    247025109       244       9,490  SH           SHARED                         9,490
DELL COMPUTER CORP                 COMM    247025109     4,624     180,000  SH           SHARED                       180,000
DELL COMPUTER CORP                 COMM    247025109     3,083     120,000  SH             SOLE              120,000
DEVON ENERGY CORP.                 COMM    25179M103        84       1,440  SH           SHARED                         1,440
DIEBOLD                            COMM    253651103        66       2,420  SH           SHARED                         2,420
DISNEY, WALT CO.                   COMM    254687106       128       4,490  SH           SHARED                         4,490
DISNEY, WALT CO.                   COMM    254687106     3,432     120,000  SH           SHARED                       120,000
DISNEY, WALT CO.                   COMM    254687106     2,288      80,000  SH             SOLE              80,000
DONNELLEY (R R) & SONS INC.        COMM    257867101        74       2,830  SH           SHARED                         2,830
DOW CHEMICAL COMPANY               COMM    260543103     3,131      99,165  SH           SHARED                        99,165
DOW CHEMICAL COMPANY               COMM    260543103     1,968      62,331  SH             SOLE              62,331
DU PONT E I DE NEMOURS AND CO.     COMM    263534109        93       2,290  SH           SHARED                         2,290





NAME OF ISSUER                    TITLE     CUSIP      VALUE       SHARES   SH/  PUT/   INVESTMT  OTHER     VOTING  AUTHORITY
                                OF CLASS              (X$1000)    PRN/AMT   PRN  CALL   DSCRETN   MANAGERS   SOLE      SHARED  NONE
                                                                                              
DUKE POWER                         COMM    264399106       366       8,560  SH           SHARED                         8,560
DUKE POWER                         COMM    264399106     6,411     150,000  SH           SHARED                       150,000
DUKE POWER                         COMM    264399106     4,179      97,780  SH             SOLE              97,780
DUKE REALTY INVESTMENTS, INC       COMM    264411505       112       4,850  SH           SHARED                         4,850
DYNEGY INC                         COMM    26816Q101     8,723     171,000  SH           SHARED                       171,000
DYNEGY INC                         COMM    26816Q101     5,796     113,620  SH             SOLE             113,620
EMC CORP.                          COMM    268648102       139       4,740  SH           SHARED                         4,740
EMC CORP.                          COMM    268648102    13,079     444,860  SH           SHARED                       444,860
EMC CORP.                          COMM    268648102     8,602     292,590  SH             SOLE             292,590
EOG RESOURCES INC                  COMM    26875P101        87       2,110  SH           SHARED                         2,110
EBIX.COM INC                       COMM    278715107         8      12,785  SH           SHARED                        12,785
ECOLAB INC                         COMM    278865100     4,424     104,300  SH           SHARED                       104,300
ECOLAB INC                         COMM    278865100     2,638      62,191  SH             SOLE              62,191
EDWARDS (AG) INC                   COMM    281760108        96       2,590  SH           SHARED                         2,590
ELAN CORP., PLC                    COMM    284131208       523      10,000  SH           SHARED                        10,000
ELAN CORP., PLC                    COMM    284131208     2,299      44,000  SH           SHARED                        44,000
ELAN CORP., PLC                    COMM    284131208     1,150      22,000  SH             SOLE              22,000
ELECTRONIC DATA SYSTEMS            COMM    285661104        56       1,000  SH           SHARED                         1,000
EMERSON ELECTRIC COMPANY           COMM    291011104        60         960  SH           SHARED                           960
ENRON CORP.                        COMM    293561106        88       1,510  SH           SHARED                         1,510
ENRON CORP.                        COMM    293561106     4,067      70,000  SH           SHARED                        70,000
ENRON CORP.                        COMM    293561106     2,508      43,160  SH             SOLE              43,160
EXXON MOBIL CORP                   COMM    30231G102       621       7,670  SH           SHARED                         7,670
EXXON MOBIL CORP                   COMM    30231G102    21,677     267,618  SH           SHARED                       267,618
EXXON MOBIL CORP                   COMM    30231G102    14,348     177,130  SH             SOLE             177,130
FED HOME LOAN MTG CO.              COMM    313400301        96       1,480  SH           SHARED                         1,480
FED HOME LOAN MTG CO.              COMM    313400301     9,725     150,000  SH           SHARED                       150,000
FED HOME LOAN MTG CO.              COMM    313400301     6,253      96,450  SH             SOLE              96,450
(R) FEDERAL NATIONAL MORTGAGE      COMM    313586109       632       7,941  SH           SHARED                         7,941
(R) FEDERAL NATIONAL MORTGAGE      COMM    313586109    11,940     150,000  SH           SHARED                       150,000
(R) FEDERAL NATIONAL MORTGAGE      COMM    313586109     7,819      98,230  SH             SOLE              98,230
FIFTH THIRD BANCORP.               COMM    316773100        51         950  SH           SHARED                           950
FILENET CORPORATION                COMM    316869106       247      35,616  SH           SHARED                        35,616
FIRST HEALTH GROUP                 COMM    320960107       136       3,110  SH           SHARED                         3,110
FIRST UNION CORP.                  COMM    337358105        60       1,810  SH           SHARED                         1,810
FLEETBOSTON FINANCIAL              COMM    339030108        70       1,850  SH           SHARED                         1,850
FLEETBOSTON FINANCIAL              COMM    339030108     5,096     135,000  SH           SHARED                       135,000
FLEETBOSTON FINANCIAL              COMM    339030108     3,222      85,350  SH             SOLE              85,350
FORD MOTOR CO                      COMM    345370860       116       4,110  SH           SHARED                         4,110
FOUR SEASONS HOTELS                COMM    35100E104     2,969      60,000  SH           SHARED                        60,000
FOUR SEASONS HOTELS                COMM    35100E104     1,980      40,000  SH             SOLE               40,000
FOX ENTERTAINMENT GROUP            COMM    35138T107     5,586     285,000  SH           SHARED                       285,000
FOX ENTERTAINMENT GROUP            COMM    35138T107     3,724     190,000  SH             SOLE              190,000
FRANKLIN RESOURCES                 COMM    354613101        77       1,960  SH           SHARED                         1,960
GARDEN FRESH COMMON                COMM    365235100     2,418     396,104  SH           SHARED                       396,104
GENENTECH                          COMM    368710406    10,504     208,000  SH           SHARED                       208,000
GENENTECH                          COMM    368710406     6,682     132,320  SH             SOLE              132,320
GENL DYNAMICS                      COMM    369550108       216       3,450  SH           SHARED                         3,450





NAME OF ISSUER                    TITLE     CUSIP      VALUE       SHARES   SH/  PUT/   INVESTMT  OTHER     VOTING  AUTHORITY
                                OF CLASS              (X$1000)    PRN/AMT   PRN  CALL   DSCRETN   MANAGERS   SOLE      SHARED  NONE
                                                                                              
GENERAL ELECTRIC CO.               COMM    369604103     2,199      52,540  SH           SHARED                        52,540
GENERAL ELECTRIC CO.               COMM    369604103    40,525     968,100  SH           SHARED                       968,100
GENERAL ELECTRIC CO.               COMM    369604103    25,442     607,794  SH             SOLE              607,794
GENERAL MILLS INC                  COMM    370334104        68       1,570  SH           SHARED                         1,570
GENERAL MOTORS                     COMM    370442105        61       1,170  SH           SHARED                         1,170
INTERDENT, INC.                    COMM    37245B102        69     262,353  SH           SHARED                       262,353
GILLETTE CO.                       COMM    375766102        68       2,170  SH           SHARED                         2,170
GOLDMAN SACHS GROUP                COMM    38141G104     5,106      60,000  SH           SHARED                        60,000
GOLDMAN SACHS GROUP                COMM    38141G104     3,404      40,000  SH             SOLE               40,000
HCA - THE HEALTHCARE COMPANY       COMM    404119109     3,624      90,000  SH           SHARED                        90,000
HCA - THE HEALTHCARE COMPANY       COMM    404119109     2,309      57,340  SH             SOLE               57,340
HEWLETT-PACKARD                    COMM    428236103       133       4,250  SH           SHARED                         4,250
HEWLETT-PACKARD                    COMM    428236103     1,433      45,840  SH           SHARED                        45,840
HEWLETT-PACKARD                    COMM    428236103       932      29,810  SH             SOLE               29,810
HOME DEPOT, INC.                   COMM    437076102       219       5,080  SH           SHARED                         5,080
HOME DEPOT, INC.                   COMM    437076102     9,663     224,200  SH           SHARED                       224,200
HOME DEPOT, INC.                   COMM    437076102     6,687     155,144  SH             SOLE              155,144
HOMELAND HLDG CORP                 COMM    43739T104         6      20,379  SH           SHARED                        20,379
HONEYWELL INTERNATIONAL            COMM    438516106       106       2,590  SH           SHARED                         2,590
HONEYWELL INTERNATIONAL            COMM    438516106     5,916     145,000  SH           SHARED                       145,000
HONEYWELL INTERNATIONAL            COMM    438516106     4,186     102,610  SH             SOLE              102,610
HOUSEHOLD INTERNATIONAL, INC.      COMM    441815107        58         980  SH           SHARED                           980
ICO INC PFD                        PREF    449293307       340      20,000  SH           SHARED                        20,000
ISTAR FINANCIAL INC                COMM    45031U101        70       3,030  SH           SHARED                         3,030
IMMUNEX CRP NEW                    COMM    452528102     3,435     240,000  SH           SHARED                       240,000
IMMUNEX CRP NEW                    COMM    452528102     2,258     157,780  SH             SOLE              157,780
INTEL CORP                         COMM    458140100       588      22,340  SH           SHARED                        22,340
INTEL CORP                         COMM    458140100     9,532     362,260  SH           SHARED                       362,260
INTEL CORP                         COMM    458140100     6,228     236,690  SH             SOLE              236,690
INTERNATIONAL BUSINESS
     MACHINES CORP CAP             COMM    459200101       488       5,070  SH           SHARED                         5,070
INTERNATIONAL BUSINESS
   MACHINES CORP CAP               COMM    459200101    12,827     133,360  SH           SHARED                       133,360
INTERNATIONAL BUSINESS
   MACHINES CORP CAP               COMM    459200101     8,568      89,088  SH             SOLE               89,088
INTERNATIONAL PAPER CO             COMM    460146103     3,247      90,000  SH           SHARED                        90,000
INTERNATIONAL PAPER CO             COMM    460146103     2,101      58,230  SH             SOLE               58,230
INTRA BIOTICS                      COMM    46116T100     3,007   1,886,828  SH           SHARED                     1,886,828
JDS UNIPHASE CORP.                 COMM    46612J101     5,111     277,204  SH           SHARED                       277,204
JDS UNIPHASE CORP.                 COMM    46612J101     3,381     183,352  SH             SOLE              183,352
JP MORGAN CHASE & CO               COMM    46625H100       179       3,996  SH           SHARED                         3,996
JP MORGAN CHASE & CO               COMM    46625H100    10,439     232,500  SH           SHARED                       232,500
JP MORGAN CHASE & CO               COMM    46625H100     6,643     147,951  SH             SOLE              147,951
JOHNSON & JOHNSON                  COMM    478160104       263       3,010  SH           SHARED                         3,010
JOHNSON & JOHNSON                  COMM    478160104     6,315      72,200  SH           SHARED                        72,200
JOHNSON & JOHNSON                  COMM    478160104     5,980      68,364  SH             SOLE               68,364
KAUFMAN & BROAD HOME CORP.         COMM    48666K109       183       5,600  SH           SHARED                         5,600
KIMBERLY-CLARK CORP.               COMM    494368103        76       1,120  SH           SHARED                         1,120
KIMBERLY-CLARK CORP.               COMM    494368103     8,764     129,200  SH           SHARED                       129,200
KIMBERLY-CLARK CORP.               COMM    494368103     5,751      84,782  SH             SOLE               84,782
KOHL'S CORP.                        COMM    500255104     2,838      46,000  SH           SHARED                        46,000





NAME OF ISSUER                    TITLE     CUSIP      VALUE       SHARES   SH/  PUT/   INVESTMT  OTHER     VOTING  AUTHORITY
                                OF CLASS              (X$1000)    PRN/AMT   PRN  CALL   DSCRETN   MANAGERS   SOLE      SHARED  NONE
                                                                                              
KOHL'S CORP.                       COMM    500255104     1,737      28,160  SH             SOLE               28,160
LEAR SEATING                       COMM    521865105        50       1,710  SH           SHARED                         1,710
LILLY, ELI & CO.                   COMM    532457108       186       2,430  SH           SHARED                         2,430
LILLY, ELI & CO.                   COMM    532457108     8,049     105,000  SH           SHARED                       105,000
LILLY, ELI & CO.                   COMM    532457108     5,366      70,000  SH             SOLE               70,000
LOEWS CORP.                        COMM    540424108       282       4,740  SH           SHARED                         4,740
LUCENT TECHNOLOGIES INC.           COMM    549463107        69       6,900  SH           SHARED                         6,900
MBNA CORP.                         COMM    55262L100       217       6,550  SH           SHARED                         6,550
MBNA CORP.                         COMM    55262L100     6,099     184,250  SH           SHARED                       184,250
MBNA CORP.                         COMM    55262L100     3,968     119,872  SH             SOLE              119,872
MARSH & MCLENNAN COS INC           COMM    571748102        55         580  SH           SHARED                           580
MASTEC INC.                        COMM    576323109        86       6,380  SH           SHARED                         6,380
MATTEL, INC.                       COMM    577081102        54       3,020  SH           SHARED                         3,020
MCDONALD'S CORP                    COMM    580135101        75       2,820  SH           SHARED                         2,820
MEDTRONIC INC                      COMM    585055106       118       2,590  SH           SHARED                         2,590
MEDTRONIC INC                      COMM    585055106    15,606     341,200  SH           SHARED                       341,200
MEDTRONIC INC                      COMM    585055106    10,196     222,914  SH             SOLE              222,914
MELLON FINANCIAL CORP              COMM    58551A108     7,901     195,000  SH           SHARED                       195,000
MELLON FINANCIAL CORP              COMM    58551A108     5,151     127,120  SH             SOLE              127,120
MERCK AND CO INC                   COMM    589331107       383       5,040  SH           SHARED                         5,040
MERCK AND CO INC                   COMM    589331107    15,499     204,200  SH           SHARED                       204,200
MERCK AND CO INC                   COMM    589331107    10,549     138,981  SH             SOLE              138,981
MERRILL LYNCH & CO.                COMM    590188108       105       1,890  SH           SHARED                         1,890
MERRILL LYNCH & CO.                COMM    590188108    12,410     224,000  SH           SHARED                       224,000
MERRILL LYNCH & CO.                COMM    590188108     7,999     144,390  SH             SOLE              144,390
MICROSOFT CORP.                    COMM    594918104       644      11,770  SH           SHARED                        11,770
MICROSOFT CORP.                    COMM    594918104    27,468     502,280  SH           SHARED                       502,280
MICROSOFT CORP.                    COMM    594918104    17,947     328,172  SH             SOLE              328,172
MID-AMERICA APT. COMMUNITIES       COMM    59522J103     2,248     100,000  SH           SHARED                       100,000
MINNESOTA MINING AND
   MANUFACTURING CO                COMM    604059105        91         880  SH           SHARED                           880
MINNESOTA MINING AND
   MANUFACTURING CO                COMM    604059105     6,234      60,000  SH           SHARED                        60,000
MINNESOTA MINING AND
   MANUFACTURING CO                COMM    604059105     4,156      40,000  SH             SOLE               40,000
MORGAN STANLEY DEAN WITT           COMM    617446448       133       2,487  SH           SHARED                         2,487
MOTOROLA INC                       COMM    620076109        36       2,550  SH           SHARED                         2,550
MOTOROLA INC                       COMM    620076109     2,423     169,920  SH           SHARED                       169,920
MOTOROLA INC                       COMM    620076109     1,567     109,870  SH             SOLE              109,870
NTL INC                            COMM    629407107     1,549      61,600  SH           SHARED                        61,600
NTL INC                            COMM    629407107       775      30,800  SH             SOLE               30,800
NOKIA CORP. ADR                    COMM    654902204     1,824      76,000  SH           SHARED                        76,000
NOKIA CORP. ADR                    COMM    654902204       312      13,000  SH             SOLE               13,000
NORTEL NETWORK CORPORATION         COMM    656568102        38       2,670  SH           SHARED                         2,670
NORTEL NETWORK CORPORATION         COMM    656568102     5,077     361,320  SH           SHARED                       361,320
NORTEL NETWORK CORPORATION         COMM    656568102     3,380     240,550  SH             SOLE              240,550
NORTHROP GRUMMAN CORP              COMM    666807102     3,915      45,000  SH           SHARED                        45,000
NORTHROP GRUMMAN CORP              COMM    666807102     2,610      30,000  SH             SOLE               30,000
OLD REPUBLIC INTERNATIONAL CORP.   COMM    680223104        54       1,900  SH           SHARED                         1,900
ORACLE CORPORATION                 COMM    68389X105        94       6,250  SH           SHARED                         6,250
ORACLE CORPORATION                 COMM    68389X105     6,573     438,800  SH           SHARED                       438,800





NAME OF ISSUER                    TITLE     CUSIP      VALUE       SHARES   SH/  PUT/   INVESTMT  OTHER     VOTING  AUTHORITY
                                OF CLASS              (X$1000)    PRN/AMT   PRN  CALL   DSCRETN   MANAGERS   SOLE      SHARED  NONE
                                                                                             
ORACLE CORPORATION                 COMM    68389X105     4,319     288,346  SH             SOLE              288,346
PP&L RESOURCE INC                  COMM    69351T106        41         940  SH           SHARED                           940
PEPSICO INC                        COMM    713448108        45       1,020  SH           SHARED                         1,020
PEPSICO INC                        COMM    713448108     5,243     119,300  SH           SHARED                       119,300
PEPSICO INC                        COMM    713448108     3,480      79,171  SH             SOLE               79,171
(R) PETROCORP INC.                 COMM    71645N101     8,742   1,731,000  SH           SHARED                     1,731,000
PFIZER INC                         COMM    717081103       563      13,740  SH           SHARED                        13,740
PFIZER INC                         COMM    717081103    25,932     633,250  SH           SHARED                       633,250
PFIZER INC                         COMM    717081103    16,887     412,380  SH             SOLE              412,380
PHARMACIA CORP.                    COMM    71713U102       140       2,780  SH           SHARED                         2,780
PHARMACIA CORP.                    COMM    71713U102     7,556     150,000  SH           SHARED                       150,000
PHARMACIA CORP.                    COMM    71713U102     4,881      96,900  SH             SOLE               96,900
PHILIP MORRIS COS INC              COMM    718154107       706      14,870  SH           SHARED                        14,870
PHILIP MORRIS COS INC              COMM    718154107     7,118     150,000  SH           SHARED                       150,000
PHILIP MORRIS COS INC              COMM    718154107     4,745     100,000  SH             SOLE              100,000
POPULAR INC                        COMM    733174106       106       3,610  SH           SHARED                         3,610
PRICE (T. ROWE) ASSOCIATES         COMM    74144T108        53       1,690  SH           SHARED                         1,690
PROCTER AND GAMBLE                 COMM    742718109       177       2,820  SH           SHARED                         2,820
PROCTER AND GAMBLE                 COMM    742718109     7,512     120,000  SH           SHARED                       120,000
PROCTER AND GAMBLE                 COMM    742718109     4,952      79,110  SH             SOLE               79,110
PROGRESSIVE CORP.                  COMM    743315103        96         990  SH           SHARED                           990
PROLOGIS TRUST                     COMM    743410102        64       3,210  SH           SHARED                         3,210
QUAKER OATS                        COMM    747402105       124       1,280  SH           SHARED                         1,280
QWEST COMMUNICATIONS               COMM    749121109       125       3,560  SH           SHARED                         3,560
QWEST COMMUNICATIONS               COMM    749121109     9,464     270,000  SH           SHARED                       270,000
QWEST COMMUNICATIONS               COMM    749121109     6,200     176,900  SH           SOLE               176,900
RELIANT ENERGY INC                 COMM    75952J108       258       5,710  SH           SHARED                         5,710
ROBT HALF INTL                     COMM    770323103       126       5,630  SH           SHARED                         5,630
ROYAL DUTCH PETROLEUM CO.          COMM    780257804       259       4,680  SH           SHARED                         4,680
SBC COMMUNICATIONS INC.            COMM    78387G103       562      12,590  SH           SHARED                        12,590
SBC COMMUNICATIONS INC.            COMM    78387G103    12,111     271,361  SH           SHARED                       271,361
SBC COMMUNICATIONS INC.            COMM    78387G103     7,930     177,685  SH             SOLE             177,685
SEI INVESTMENTS                    COMM    784117103        31         980  SH           SHARED                           980
SAFEWAY INC.                       COMM    786514208        57       1,040  SH           SHARED                         1,040
ST. JOE CORP.                      COMM    790148100       125       5,490  SH           SHARED                         5,490
SARA LEE CORP.                     COMM    803111103       121       5,600  SH           SHARED                         5,600
SCHERING PLOUGH CORP               COMM    806605101       115       3,150  SH           SHARED                         3,150
SCHLUMBERGER LTD                   COMM    806857108        78       1,350  SH           SHARED                         1,350
SCHLUMBERGER LTD                   COMM    806857108     5,041      87,500  SH           SHARED                        87,500
SCHLUMBERGER LTD                   COMM    806857108     3,267      56,703  SH             SOLE              56,703
SCHWAB (CHARLES) CORP              COMM    808513105        45       2,930  SH           SHARED                         2,930
SELECT COMFORT COMMON STOCK        COMM    81616*106     3,048   4,800,113  SH           SHARED                     4,800,113
SIEBEL SYSTEMS                     COMM    826170102        23         840  SH           SHARED                           840
SOLECTRON CORP.                    COMM    834182107     4,397     231,300  SH           SHARED                       231,300
SOLECTRON CORP.                    COMM    834182107     2,866     150,780  SH             SOLE             150,780
SPRINT CORP (PCS)                  COMM    852061506        38       2,000  SH           SHARED                         2,000
SUN MICROSYSTEMS INC               COMM    866810104        56       3,640  SH           SHARED                         3,640
SUN MICROSYSTEMS INC               COMM    866810104     5,029     327,220  SH           SHARED                       327,220





NAME OF ISSUER                    TITLE     CUSIP      VALUE       SHARES   SH/  PUT/   INVESTMT  OTHER     VOTING  AUTHORITY
                                OF CLASS              (X$1000)    PRN/AMT   PRN  CALL   DSCRETN   MANAGERS   SOLE      SHARED  NONE
                                                                                              
SUN MICROSYSTEMS INC               COMM    866810104     3,733     242,880  SH             SOLE             242,880
SUNTRUST BANKS INC                 COMM    867914103    12,636     195,000  SH           SHARED                       195,000
SUNTRUST BANKS INC                 COMM    867914103     8,209     126,680  SH             SOLE             126,680
TEXAS UTILITIES                    COMM    873168108       162       3,920  SH           SHARED                         3,920
TEXAS UTILITIES                    COMM    873168108     4,132     100,000  SH           SHARED                       100,000
TEXAS UTILITIES                    COMM    873168108     2,691      65,120  SH             SOLE              65,120
TAIWAN SEMICONDUCTOR               COMM    874039100       780      40,000  SH           SHARED                        40,000
TAIWAN SEMICONDUCTOR               COMM    874039100       390      20,000  SH             SOLE              20,000
TARGET CORP                        COMM    87612E106        71       1,960  SH           SHARED                         1,960
TECH DATA CORP                     COMM    878237106        72       2,450  SH           SHARED                         2,450
TERADYNE INC                       COMM    880770102     2,737      82,940  SH           SHARED                        82,940
TERADYNE INC                       COMM    880770102     1,736      52,600  SH             SOLE              52,600
TEXACO INC                         COMM    881694103        77       1,160  SH           SHARED                         1,160
TEXAS INSTRUMENT                   COMM    882508104       117       3,780  SH           SHARED                         3,780
TEXAS INSTRUMENT                   COMM    882508104     4,492     145,000  SH           SHARED                       145,000
TEXAS INSTRUMENT                   COMM    882508104     2,903      93,700  SH             SOLE              93,700
TIDEWATER INC.                     COMM    886423102     4,068      90,000  SH           SHARED                        90,000
TIDEWATER INC.                     COMM    886423102     2,973      65,770  SH             SOLE              65,770
TORCHMARK                          COMM    891027104       150       3,860  SH           SHARED                         3,860
TYCO INTERNATIONAL LTD.            COMM    902124106       165       3,810  SH           SHARED                         3,810
TYCO INTERNATIONAL LTD.            COMM    902124106     8,270     191,300  SH           SHARED                       191,300
TYCO INTERNATIONAL LTD.            COMM    902124106     5,400     124,916  SH             SOLE             124,916
USX-MARATHON GROUP COM             COMM    902905827       269       9,990  SH           SHARED                         9,990
US BANCORP - NEW                   COMM    902973304        96       4,124  SH           SHARED                         4,124
USA NETWORKS                       COMM    902984103    14,363     600,000  SH           SHARED                       600,000
USA NETWORKS                       COMM    902984103     9,342     390,250  SH             SOLE             390,250
UNILEVER NV                        COMM    904784709        66       1,260  SH           SHARED                         1,260
UNITED PARCEL SERVICE              COMM    911312106    11,096     195,000  SH           SHARED                       195,000
UNITED PARCEL SERVICE              COMM    911312106     7,309     128,450  SH             SOLE             128,450
UNITED TECHNOLOGIES CORP.          COMM    913017109        71         970  SH           SHARED                           970
VENATOR GROUP INC                  COMM    922944103        53       3,820  SH           SHARED                         3,820
VERITAS SOFTWARE CO.               COMM    923436109    13,118     283,700  SH           SHARED                       283,700
VERITAS SOFTWARE CO.               COMM    923436109     8,634     186,720  SH             SOLE             186,720
VERIZON COMMUNICATIONS             COMM    92343V104       426       8,650  SH           SHARED                         8,650
VERIZON COMMUNICATIONS             COMM    92343V104     8,902     180,570  SH           SHARED                       180,570
VERIZON COMMUNICATIONS             COMM    92343V104     5,633     114,261  SH             SOLE             114,261
VIACOM INC. CL B                   COMM    925524308       140       3,190  SH           SHARED                         3,190
VIACOM INC. CL B                   COMM    925524308     5,146     117,030  SH           SHARED                       117,030
VIACOM INC. CL B                   COMM    925524308     3,362      76,453  SH             SOLE              76,453
VINTAGE PETRO                      COMM    927460105       168       8,280  SH           SHARED                         8,280
VISHAY INTERTECHNOLOGY INC.        COMM    928298108       136       6,840  SH           SHARED                         6,840
WAL-MART STORES INC                COMM    931142103       495       9,800  SH           SHARED                         9,800
WAL-MART STORES INC                COMM    931142103    24,381     482,800  SH           SHARED                       482,800
WAL-MART STORES INC                COMM    931142103    15,974     316,318  SH             SOLE             316,318
WALGREEN CO.                       COMM    931422109        87       2,140  SH           SHARED                         2,140
WASHINGTON MUTUAL INC              COMM    939322103       383       7,000  SH           SHARED                         7,000
WELLS FARGO & CO                   COMM    949746101       211       4,270  SH           SHARED                         4,270
WELLS FARGO & CO                   COMM    949746101     7,559     152,800  SH           SHARED                       152,800





NAME OF ISSUER                    TITLE     CUSIP      VALUE       SHARES   SH/  PUT/   INVESTMT  OTHER     VOTING  AUTHORITY
                                OF CLASS              (X$1000)    PRN/AMT   PRN  CALL   DSCRETN   MANAGERS   SOLE      SHARED  NONE
                                                                                              
WELLS FARGO & CO                   COMM    949746101     5,038     101,830  SH             SOLE             101,830
WORLDCOM INC                       COMM    98157D106       118       6,290  SH           SHARED                         6,290
XILINX INC                         COMM    983919101     4,496     128,000  SH           SHARED                       128,000
XILINX INC                         COMM    983919101     2,964      84,390  SH             SOLE              84,390
AMDOCS LTD                         COMM    G02602103    12,837     268,000  SH           SHARED                       268,000
AMDOCS LTD                         COMM    G02602103     8,335     174,000  SH             SOLE             174,000
TRANSOCEAN SEDCO FOREX INC         COMM    G90078109     4,865     112,234  SH           SHARED                       112,234
TRANSOCEAN SEDCO FOREX INC         COMM    G90078109     3,046      70,261  SH             SOLE              70,261
FLEXTRONICS INTERNATIONAL LTD      COMM    Y2573F102     3,090     206,000  SH           SHARED                       206,000
FLEXTRONICS INTERNATIONAL LTD      COMM    Y2573F102     1,955     130,340  SH             SOLE             130,340
TEEKAY SHIPPING                    COMM    Y8564W103        65       1,520  SH           SHARED                         1,520