Top Ten Holdings

Applied Micro Circuits

Cell Therapeutics

Ciena Corp.

Cree Inc.

HNC Software

International Rectifier

JDS Uniphase Corp.

Microchip Technology

Retek Inc.

Royal Caribbean Cruises

Sector Weightings*

Technology

64%

Health Care

9%

Consumer Discret

8.5%

Financial Services

8.3%

Other Energy

4.2%

Utilities

3.5%

Auto & Transport

1.6%

Materials & Process

.9%

*based on sector definitions by Frank Russell Co.

Average Portfolio Characteristics

Number of Holdings

48

Wtd Sustainable Growth Rate

53%

Median Market Cap

1.5 bil.