| Top 25 Institutional Shareholders of IT Services Leaders | ||||||||||||||||||||
| 30-Sep-04 | ||||||||||||||||||||
| IBM | EDS | HP | CSC | Accenture | ACS | BearingPoint | Perot Systems | TOTAL | ||||||||||||
| Institution Name | $ Value | Change | $ Value | Change | $ Value | Change | $ Value | Change | $ Value | Change | $ Value | Change | $ Value | Change | $ Value | Change | Change | |||
| (Mill) | (Mill) | (Mill) | (Mill) | (Mill) | (Mill) | (Mill) | (Mill) | |||||||||||||
| Market Cap (12/31/04) | $164,110 | 4% | $11,900 | 1% | $63,330 | -10% | $10,670 | 29% | $25,450 | 4% | $7,740 | 10% | $1,600 | -18% | $1,860 | 23% | $286,660 | 1% | ||
| Market Cap (12/31/03) | $157,556 | $11,814 | $70,059 | $8,299 | $24,374 | $7,010 | $1,961 | $1,515 | $282,587 | |||||||||||
| Institutional Ownership % | 56% | 92% | (was 91%) | 66% | (was 65%) | 80% | (was 77%) | 37% | (was 31%) | 93% | (was 94%) | 80% | (was 72%) | 48% | (was 41%) | 67% | ||||
| Insider Ownership % | 1% | 1% | 5% | (was 7%) | 0% | 6% | (was 8%) | 8% | 17% | 45% | (was 34%) | 8% | ||||||||
| % of | % of | % of | % of | % of | % of | % of | % of | |||||||||||||
| Total Invest. | Total Invest. | Total Invest. | Total Invest. | Total | Total Invest. | Total Invest. | Total Invest. | |||||||||||||
| 1 | State Street Global Advisors | $10,538 | 78.6% | $575 | 4.3% | $1,819 | 13.6% | $286 | 2.1% | $0 | 0.0% | $173 | 1.3% | OUT | 0.0% | $18 | 0.1% | $13,409 | ||
| 2 | Barclays Global Investors Intl | $6,138 | 58.3% | $340 | 3.2% | $2,391 | 22.7% | $513 | 4.9% | $854 | 8.1% | $221 | 2.1% | $27 | 0.3% | $42 | 0.4% | $10,526 | ||
| 3 | Capital Research & Mgmt | $2,918 | 45.0% | $969 | 14.9% | $2,597 | 40.1% | OUT | 0.0% | $0 | 0.0% | $0 | 0.0% | $0 | 0.0% | $0 | 0.0% | $6,484 | ||
| 4 | Fidelity Mgmt & Research | $2,666 | 52.9% | OUT | 0.0% | $1,031 | 20.5% | $452 | 9.0% | OUT | 0.0% | $655 | 13.0% | $238 | 4.7% | OUT | 0.0% | $5,042 | ||
| 5 | Vanguard Group | $3,106 | 62.5% | $216 | 4.3% | $1,187 | 23.9% | $241 | 4.9% | $0 | 0.0% | $159 | 3.2% | $27 | 0.5% | $31 | 0.6% | $4,967 | ||
| 6 | Dodge & Cox | $0 | 0.0% | $1,243 | 27.4% | $2,145 | 47.3% | $1,149 | 25.3% | $0 | 0.0% | $0 | 0.0% | $0 | 0.0% | $0 | 0.0% | $4,537 | ||
| 7 | Wellington Mgmt | $1,751 | 51.5% | $0 | 0.0% | $376 | 11.1% | $66 | 1.9% | $1,161 | 34.1% | $0 | 0.0% | $46 | 1.4% | OUT | 0.0% | $3,400 | ||
| 8 | Alliance Capital Mgmt | $551 | 16.5% | $59 | 1.8% | $2,625 | 78.7% | $72 | 2.2% | $0 | 0.0% | $27 | 0.8% | $0 | 0.0% | $3,334 | ||||
| 9 | Northern Trust Co (Chicago) | $1,897 | 58.2% | $109 | 3.3% | $805 | 24.7% | $106 | 3.3% | $215 | 6.6% | $115 | 3.5% | $0 | 0.0% | $13 | 0.4% | $3,260 | ||
| 10 | JP Morgan Fleming Asset Mgmt (US) | $1,402 | 60.7% | $0 | 0.0% | $417 | 18.1% | OUT | 0.0% | $378 | 16.4% | $111 | 4.8% | $0 | 0.0% | $0 | 0.0% | $2,308 | ||
| 11 | State Farm Investment Mgmt Corp | $1,429 | 64.3% | $0 | 0.0% | $792 | 35.7% | $0 | 0.0% | $0 | 0.0% | $0 | 0.0% | $0 | 0.0% | $0 | 0.0% | $2,221 | ||
| 12 | Tiaa Cref Investment Mgmt Inc | $1,109 | 56.4% | $78 | 4.0% | $423 | 21.5% | $104 | 5.3% | $214 | 10.9% | $0 | 0.0% | $30 | 1.5% | $9 | 0.5% | $1,967 | ||
| 13 | Merrill Lynch Investment Managers/Fund Asset Mgmt | $936 | 49.3% | $0 | 0.0% | $838 | 44.2% | $70 | 3.7% | $0 | 0.0% | $53 | 2.8% | $0 | 0.0% | $0 | 0.0% | $1,897 | ||
| 14 | Deutsche Asset Mgmt (New York) | $1,038 | 73.7% | $0 | 0.0% | $371 | 26.3% | $0 | 0.0% | $0 | 0.0% | $0 | 0.0% | $0 | 0.0% | $0 | 0.0% | $1,409 | ||
| 15 | Morgan Stanley Investment Mgmt | $805 | 60.2% | OUT | 0.0% | $268 | 20.0% | OUT | 0.0% | $241 | 18.0% | $0 | 0.0% | $23 | 1.7% | $0 | 0.0% | $1,337 | ||
| 16 | Capital Guardian Trust | $624 | 48.0% | $0 | 0.0% | $0 | 0.0% | $0 | 0.0% | $0 | 0.0% | $675 | 52.0% | $0 | 0.0% | $0 | 0.0% | $1,299 | ||
| 17 | Banc of America Capital Mgmt | $614 | 49.2% | $0 | 0.0% | $529 | 42.4% | $0 | 0.0% | $104 | 8.3% | $0 | 0.0% | $0 | 0.0% | $0 | 0.0% | $1,247 | ||
| 18 | Oppenheimerfunds | $915 | 88.2% | OUT | 0.0% | $0 | 0.0% | $0 | 0.0% | $122 | 11.8% | $0 | 0.0% | $0 | 0.0% | $0 | 0.0% | $1,037 | ||
| 19 | T Rowe Price Associates | $915 | 88.2% | OUT | 0.0% | $0 | 0.0% | $0 | 0.0% | $122 | 11.8% | $0 | 0.0% | $0 | 0.0% | $0 | 0.0% | $1,037 | ||
| 20 | Brandes Investment Partners | $0 | 0.0% | $0 | 0.0% | $418 | 41.4% | $0 | 0.0% | $267 | 26.5% | $243 | 24.1% | $81 | 8.0% | $0 | 0.0% | $1,009 | ||
| 21 | Calpers (CA Public Employees Retirement Sys) | $0 | 0.0% | $612 | 63.8% | $348 | 36.3% | $0 | 0.0% | $0 | 0.0% | $0 | 0.0% | $0 | 0.0% | $0 | 0.0% | $960 | ||
| 22 | Smith Barney Asset Mgmt | $681 | 72.7% | $0 | 0.0% | $247 | 26.4% | $0 | 0.0% | $0 | 0.0% | $0 | 0.0% | $0 | 0.0% | $9 | 1.0% | $937 | ||
| 23 | Putnam Investment Mgmt | $759 | 83.0% | $156 | 17.0% | $0 | 0.0% | $0 | 0.0% | $0 | 0.0% | $0 | 0.0% | $0 | 0.0% | $0 | 0.0% | $915 | ||
| 24 | New York State Common Retirement Fund | $0 | 0.0% | $0 | 0.0% | $838 | 92.6% | $0 | 0.0% | OUT | 0.0% | $67 | 7.4% | $0 | 0.0% | $0 | 0.0% | $905 | ||
| 25 | Pacific Financial Research | $578 | 65.7% | $55 | 6.3% | $247 | 28.1% | $0 | 0.0% | $0 | 0.0% | $0 | 0.0% | $0 | 0.0% | $0 | 0.0% | $880 | ||
| TOTALS (as of 9/30/04) | $41,370 | 4.4% | $4,412 | 17.0% | $20,712 | 21.5% | $3,059 | 36.7% | $3,678 | 52.7% | $2,472 | 44.7% | $499 | 43.5% | $123 | 47.2% | $76,324 | 2% | ||
| % of Market Cap (as of 12/31/04) | 25% | 37% | 33% | 29% | 14% | 32% | 31% | 7% | 27% | |||||||||||
| TOTALS (as of 9/30/03) | $44,718 | -7.5% | $4,341 | 1.6% | $19,292 | 7.4% | $2,537 | 20.6% | $2,270 | 62.0% | $1,676 | 47.5% | $367 | 35.8% | $168 | -26.8% | $75,000 | |||
| 27% | 46% | 28% | 32% | 10% | 26% | 18% | 11% | |||||||||||||
| Percent change since 9/30/03 | 4% | 17% | 22% | 37% | 53% | 45% | 43% | 47% | 33% | |||||||||||
| Source: Annex Research | ||||||||||||||||||||