It should not be assumed that recommendations made in the future will be profitable or will equal the performance of the securities in this list. Closed Transactions From 01-01-02 Through 12-31-02

 

Lemley, Yarling & Co.

 

 

 

 

 

REALIZED GAINS AND LOSSES

 

 

 

 

Lemley Yarling Mgt Co Money Pur Plan Model Portfolio

 

 

 

 

From 01-01-02 Through
12-31-02

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gain Or Loss

Open

Close

 

 

Cost

 

 

 

Date

Date

Quantity

Security

Basis

Proceeds

Short Term

Long Term

11-30-01

01-02-02

500

Schering-Plough

17884

17813.73

-70.27

 

12-17-01

01-02-02

500

Schering-Plough

18814.5

17813.73

-1000.77

 

12-13-01

01-03-02

500

EMC Corp.

7764

8061.11

297.11

 

12-14-01

01-03-02

500

EMC Corp.

7514.6

8061.11

546.51

 

12-21-01

01-03-02

300

EMC Corp.

4149.5

4836.67

687.17

 

12-27-01

01-03-02

200

EMC Corp.

2741

3224.44

483.44

 

12-18-01

01-03-02

300

Sun Microsystems Inc.

3892

3989.34

97.34

 

12-20-01

01-03-02

500

Sun Microsystems Inc.

6171.6

6648.89

477.29

 

12-27-01

01-03-02

200

Sun Microsystems Inc.

2590.85

2659.56

68.71

 

10-18-01

01-04-02

1000

Broadwing Inc.

10069.5

9959.05

-110.45

 

12-21-01

01-04-02

500

Broadwing Inc.

4562

4979.52

417.52

 

12-27-01

01-04-02

500

Broadwing Inc.

4672

4979.52

307.52

 

12-31-01

01-04-02

500

Broadwing Inc.

4547

4979.53

432.53

 

12-14-01

01-04-02

500

Ciena Corp.

7214

8086.37

872.37

 

12-20-01

01-04-02

500

Ciena Corp.

7020.65

8086.38

1065.73

 

10-26-01

01-04-02

500

Lucent Technologies

3552

3524.28

-27.72

 

11-14-01

01-04-02

500

Lucent Technologies

3767

3524.28

-242.72

 

11-26-01

01-04-02

500

Lucent Technologies

4031

3524.27

-506.73

 

10-26-01

01-04-02

500

Palm Inc.

1243

2143.33

900.33

 

11-20-01

01-04-02

1000

Palm Inc.

3442

4286.65

844.65

 

12-13-01

01-04-02

500

Tellabs Inc.

7476.65

8463.67

987.02

 

12-14-01

01-04-02

500

Tellabs Inc.

7049.7

8463.67

1413.97

 

12-31-01

01-07-02

500

J P Morgan & Co Inc.

18194.5

19674.9

1480.4

 

12-27-01

01-09-02

500

Hewlett Packard Co

10461.5

11711.17

1249.67

 

12-13-01

01-10-02

500

Cisco Systems

9820.5

10381.47

560.97

 

12-14-01

01-10-02

500

Cisco Systems

9645.75

10381.47

735.72

 

12-20-01

01-10-02

500

Cisco Systems

9471.5

10381.48

909.98

 

11-26-01

01-10-02

500

Lucent Technologies

4031

3543.94

-487.06

 

12-27-01

01-10-02

500

Lucent Technologies

3082

3543.95

461.95

 

12-21-01

01-11-02

300

Cisco Systems

5527.25

6012.47

485.22

 

12-27-01

01-11-02

200

Cisco Systems

3712.96

4008.32

295.36

 

12-21-01

01-11-02

300

Charles Schwab Corp.

4688.27

5028.3

340.03

 

12-27-01

01-11-02

700

Charles Schwab Corp.

10989

11732.71

743.71

 

01-07-02

01-11-02

500

Charles Schwab Corp.

8702

8380.51

-321.49

 

11-14-01

01-12-02

1000

Rite Aid Corp.

5232

3026.69

-2205.31

 

11-19-01

01-12-02

1000

Rite Aid Corp.

5487

3026.69

-2460.31

 

12-18-01

01-12-02

1000

Rite Aid Corp.

4042

3026.68

-1015.32

 

12-05-01

01-14-02

250

Burlington Resources

9270.75

8270.67

-1000.08

 

12-31-01

01-14-02

500

Oracle Systems Corp.

7104.1

8192.87

1088.77

 

04-27-01

01-15-02

1000

BarnesandNoble.com

2318

1569.5

-748.5

 

06-07-01

01-15-02

2000

BarnesandNoble.com

3700

3139

-561

 

12-20-01

01-22-02

300

AOL Time Warner

10134.5

8594.71

-1539.79

 

12-27-01

01-22-02

200

AOL Time Warner

6510

5729.81

-780.19

 

01-17-02

01-22-02

400

AOL Time Warner

12020

11459.62

-560.38

 

12-27-01

01-23-02

500

Sun Microsystems Inc.

6477.14

5508.91

-968.23

 

01-22-02

01-23-02

500

Sun Microsystems Inc.

5492.55

5508.92

16.37

 

01-16-02

01-25-02

500

J P Morgan & Co Inc.

18492

17617.78

-874.22

 

12-27-01

02-07-02

500

Schering-Plough

17899

16281.7

-1617.3

 

01-24-02

02-07-02

500

Schering-Plough

16824

16281.7

-542.3

 

02-13-02

02-19-02

1000

Cisco Systems

16707.7

17537.73

830.03

 

02-12-02

02-19-02

1000

EMC Corp.

14358.4

14037.78

-320.62

 

01-16-02

02-19-02

500

Charles Schwab Corp.

7584.5

7219.39

-365.11

 

01-17-02

02-19-02

500

Charles Schwab Corp.

7717

7219.39

-497.61

 

01-29-02

02-19-02

1000

Charles Schwab Corp.

13927

14438.78

511.78

 

12-11-01

02-20-02

500

SBC Communications

18867.3

18436.22

-431.08

 

01-17-02

02-20-02

300

SBC Communications

11065

11061.73

-3.27

 

01-22-02

02-20-02

200

SBC Communications

7097

7374.49

277.49

 

03-01-02

03-06-02

1000

General Motors Cl H

13977

14937.77

960.77

 

03-04-02

03-06-02

1000

Nasdaq 100

35527

34917.47

-609.53

 

03-01-02

03-07-02

1000

Gillette Co.

34160.1

33523.29

-636.81

 

12-19-01

03-20-02

500

A T & T Wireless

6517

4469.73

-2047.27

 

12-20-01

03-20-02

500

A T & T Wireless

6514.5

4469.73

-2044.77

 

01-24-02

03-20-02

1000

A T & T Wireless

11677

8939.46

-2737.54

 

01-30-02

03-20-02

1000

A T & T Wireless

10884.8

8939.46

-1945.34

 

02-08-02

03-20-02

1000

A T & T Wireless

9582.7

8939.46

-643.24

 

02-19-02

03-20-02

1000

A T & T Wireless

10613.25

8939.48

-1673.77

 

03-27-02

04-02-02

500

Guidant Corp.

20489.5

21032.53

543.03

 

03-01-02

04-03-02

1000

A T & T Wireless

10592.3

8713.63

-1878.67

 

03-06-02

04-03-02

1000

A T & T Wireless

8935.67

8713.64

-222.03

 

03-27-02

04-08-02

500

Nasdaq 100

17899.1

16834.99

-1064.11

 

03-22-02

04-25-02

100000

U S Treasury Note

99564.5

100441.75

877.25

 

 

 

 

3.250

% Due

12-31-03

 

 

01-30-02

04-25-02

100000

U S Treasury Note

100052

100129.25

77.25

 

 

 

 

3.000

% Due

11-30-03

 

 

01-31-02

04-26-02

125000

U S Treasury Note

125052.9

124680.03

-372.85

 

 

 

 

3.000

% Due

01-31-04

 

 

05-20-02

05-22-02

800

Gap Inc

13165.44

11322.93

-1842.51

 

05-14-02

05-30-02

800

AOL Time Warner

14464

14538.43

74.43

 

05-14-02

05-30-02

500

Bristol Myers Co.

14838.6

14820.95

-17.65

 

05-15-02

05-30-02

500

Ford Motor Co

8363.85

8695.78

331.93

 

05-14-02

05-30-02

500

General Electric Co

15654

15560.17

-93.83

 

05-16-02

05-30-02

700

General Motors Cl H

9803.75

9990.19

186.44

 

05-16-02

05-30-02

200

Verizon Communication

8745.1

8772.73

27.63

 

05-16-02

05-31-02

200

Northern Trust

10564.28

10301.92

-262.36

 

05-15-02

06-06-02

500

Hewlett Packard

9745.75

9435.21

-310.54

 

03-06-02

06-07-02

2000

A T & T Wireless

17871.33

14264.36

-3606.97

 

05-22-02

06-07-02

300

Genentech Inc.

10982

10085.19

-896.81

 

05-15-02

06-07-02

500

Hain Celestial Group

7893.05

8311.69

418.64

 

05-15-02

06-07-02

1000

WorldComm Inc.

1357

1497.95

140.95

 

06-24-02

07-01-02

400

SBC Communications

12056

12481.34

425.34

 

06-25-02

07-05-02

400

Northern Trust

17991

16677.61

-1313.39

 

07-02-02

07-10-02

300

Northern Trust

11674.99

12347.57

672.58

 

07-11-02

07-17-02

500

PepsiCo

21289.5

21251.75

-37.75

 

06-27-02

07-23-02

300

Verizon Communication

11289

8358.95

-2930.05

 

07-23-02

07-24-02

250

Citigroup

6818.55

6995.28

176.73

 

07-23-02

07-26-02

900

Xcel Energy

10229.42

6747.79

-3481.63

 

07-30-02

07-31-02

500

Biogen

17567.25

17941.3

374.05

 

07-22-02

07-31-02

500

Bellsouth Corp

11939

13310.09

1371.09

 

07-31-02

07-31-02

500

Bellsouth Corp

13310.09

13310.09

0

 

07-31-02

07-31-02

1000

Fleming Companies

13994

13994

0

 

07-25-02

07-31-02

500

PNC Corp.

19328.35

20926.91

1598.56

 

07-31-02

07-31-02

500

PNC Corp.

20926.91

20926.91

0

 

07-30-02

08-01-02

500

Albertsons Inc.

14315.8

13998.17

-317.63

 

08-01-02

08-01-02

500

Albertsons Inc.

13998.17

14315.8

317.63

 

07-22-02

08-01-02

500

SBC Communications

12251.5

13585.13

1333.63

 

06-27-02

08-01-02

100

Verizon Communication

3763

3208.44

-554.56

 

07-12-02

08-01-02

500

Verizon Communication

18000.05

16042.19

-1957.86

 

07-31-02

08-02-02

500

Biogen

17941.3

17567.25

-374.05

 

08-01-02

08-06-02

600

Verizon Communication

19250.63

19250.63

0

 

07-23-02

08-09-02

250

Bristol Myers Co.

5120.65

5609.7

489.05

 

07-24-02

08-09-02

250

Bristol Myers Co.

5064.5

5609.71

545.21

 

08-13-02

08-13-02

500

AON Corp.

7064.5

7562.22

497.72

 

08-08-02

08-22-02

500

Walt Disney Co

7168.65

7967.15

798.5

 

05-15-02

08-22-02

1000

EMC Corp.

7998.2

8019.65

21.45

 

08-20-02

08-22-02

500

Home Depot Inc.

14339.5

14344.86

5.36

 

08-20-02

08-26-02

1200

AOL Time Warner

14252

16827.48

2575.48

 

08-05-02

08-26-02

1000

A T & T Wireless

4062

5137.84

1075.84

 

08-21-02

08-26-02

500

Bristol Myers Co.

11487

12436.12

949.12

 

08-21-02

08-26-02

500

Bristol Myers Co.

11437.55

12436.12

998.57

 

08-14-02

08-26-02

500

Cox Communications New

11064.5

12336.32

1271.82

 

08-14-02

08-26-02

1000

Great Atlantic & Pacific Tea

11002

12297.62

1295.62

 

08-21-02

08-26-02

500

Goodyear Tire & Rubber Co

7113.6

7271.13

157.53

 

08-21-02

08-27-02

1000

EMC Corp.

7381.5

8019.65

638.15

 

07-31-02

08-27-02

1000

Fleming Companies

13994

11937.63

-2056.37

 

05-06-02

08-27-02

500

Wild Oats Markets Inc.

6259.6

6057.81

-201.79

 

08-14-02

08-27-02

500

Schering-Plough

11372.15

12187.88

815.73

 

07-30-02

08-27-02

900

Foot Locker Inc.

10468.91

9844.2

-624.71

 

08-08-02

08-27-02

300

Foot Locker Inc.

2890

3281.4

391.4

 

07-24-02

08-28-02

2000

A T & T Wireless

9941.8

11697.64

1755.84

 

08-20-02

08-29-02

500

Ford Motor Co

5889.35

5900.57

11.22

 

08-13-02

08-29-02

500

Hain Celestial Group

6564

7217.78

653.78

 

08-21-02

08-29-02

500

Nasdaq 100

12203.65

12592.61

388.96

 

08-14-02

08-30-02

1000

General Motors Cl H

9752

10637.67

885.67

 

06-24-02

08-30-02

500

Hain Celestial Group

7664.5

7342.77

-321.73

 

08-13-02

08-30-02

500

Wild Oats Markets Inc.

6099

6057.81

-41.19

 

09-09-02

09-30-02

400000

U S Treasury Bill

398470.3

398823.2

352.87

 

 

 

 

0.000

% Due

12-05-02

 

 

09-27-02

10-01-02

500

Diamonds Trust

39209

39059.32

-149.68

 

09-27-02

10-02-02

500

Verizon Communication

14252.9

15160.79

907.89

 

09-27-02

10-03-02

500

SBC Communications

10256.65

10363.08

106.43

 

08-01-02

10-03-02

500

SBC Communications

13585.13

20926.91

7341.78

 

09-27-02

10-04-02

500

Schering-Plough

11306.8

8268.74

-3038.06

 

10-02-02

10-04-02

500

Schering-Plough

9403.8

8268.75

-1135.05

 

09-27-02

10-07-02

500

PepsiCo

18789.5

18795.38

5.88

 

10-07-02

10-08-02

500

National City Corp.

12414

12732.71

318.71

 

10-09-02

10-11-02

500

BP PLC

19026.95

19953.89

926.94

 

10-10-02

10-11-02

250

Cox Communications New

5757

6094.14

337.14

 

10-09-02

10-11-02

500

Diamonds Trust

36859.85

38684.43

1824.58

 

10-09-02

10-11-02

500

General Electric Co

11180.55

11685.14

504.59

 

10-09-02

10-11-02

500

General Motors

16034.85

17357.92

1323.07

 

10-10-02

10-11-02

250

Nucor Corp.

9564

9967.27

403.27

 

10-11-02

10-11-02

500

Nasdaq 100

10800

11057.66

257.66

 

10-10-02

10-11-02

250

Talbot's

5481.95

5966.56

484.61

 

10-11-02

10-14-02

500

Reuters Holdings

8814

8814

0

 

08-06-02

10-15-02

500

Albertsons Inc.

14315.8

12542.62

-1773.18

 

10-09-02

10-15-02

500

Albertsons Inc.

12029.2

12542.62

513.42

 

10-09-02

10-15-02

1000

A T & T Wireless

3312

4507.86

1195.86

 

10-09-02

10-15-02

500

Delta Air Lines Inc.

3471.65

4368.81

897.16

 

10-14-02

10-15-02

500

Ford Motor Co

3989

4267.87

278.87

 

10-11-02

10-15-02

500

Home Depot Inc.

12788.7

14065.07

1276.37

 

10-14-02

10-15-02

250

J P Morgan & Co Inc.

4399

4505.14

106.14

 

09-27-02

10-15-02

500

Wild Oats Markets Inc.

4831.95

5467.83

635.88

 

10-11-02

10-15-02

250

Texas Instruments

4063.4

4341.61

278.21

 

10-11-02

10-15-02

500

Sector Spdr Trust Financial

10394

11007.66

613.66

 

10-09-02

10-16-02

500

H J Heinz Co

16380

15967.71

-412.29

 

10-16-02

10-17-02

500

Bristol Myers Co.

11631

11668.94

37.94

 

10-11-02

10-17-02

500

Walt Disney Co

7964

8334.74

370.74

 

10-16-02

10-17-02

500

Reuters Holdings

7624

8117.75

493.75

 

10-10-02

10-17-02

500

Schering-Plough

8930.15

9537.11

606.96

 

10-10-02

10-21-02

1000

Advanced Micro

3812

4838.85

1026.85

 

10-09-02

10-21-02

500

AOL Time Warner

5234

6266.86

1032.86

 

10-11-02

10-21-02

500

AOL Time Warner

5783.25

6266.86

483.61

 

10-17-02

10-21-02

200

Intel Corp

2843.2

3018.66

175.46

 

10-10-02

10-21-02

500

Sector Spdr Trust Utilities

7909

8354.63

445.63

 

10-11-02

10-21-02

500

Sector Spdr Trust Utilities

8189

8354.63

165.63

 

10-15-02

10-21-02

500

Sector Spdr Trust Utilities

8364

8354.63

-9.37

 

10-22-02

10-22-02

500

Diamonds Trust

42362.8

42009.83

-352.97

 

10-22-02

10-23-02

500

General Electric Co

13439

13072.6

-366.4

 

10-17-02

10-23-02

300

Intel Corp

4264.8

4567.13

302.33

 

10-22-02

10-23-02

500

Microsoft Corp.

25922.15

25732.62

-189.53

 

10-21-02

10-23-02

500

Texas Instruments

7013.2

7017.78

4.58

 

10-17-02

10-23-02

500

Sector Spdr Trust Utilities

8057.35

8532.74

475.39

 

10-22-02

10-29-02

500

Diamonds Trust

42362.8

41555.66

-807.14

 

10-23-02

10-30-02

500

Diamonds Trust

41636.9

41850.22

213.32

 

10-21-02

10-30-02

1000

EMC Corp.

4483.9

5109.11

625.21

 

10-22-02

10-30-02

500

EMC Corp.

2280.1

2554.55

274.45

 

10-22-02

11-01-02

500

PNC Corp.

19451.8

20059.89

608.09

 

11-01-02

11-04-02

300

BP PLC

11018.4

11359.65

341.25

 

10-22-02

11-04-02

300

ConocoPhillips

14243.4

14599.55

356.15

 

10-29-02

11-04-02

300

Gillette Co.

8438.4

9004.72

566.32

 

11-01-02

11-05-02

200

BP PLC

7345.6

7722.76

377.16

 

10-22-02

11-05-02

200

ConocoPhillips

9495.6

9952.69

457.09

 

10-22-02

11-05-02

500

Cisco Systems

5441.05

5577.07

136.02

 

10-29-02

11-05-02

200

Gillette Co.

5625.6

6002.81

377.21

 

10-31-02

11-07-02

500

Brocade Communications

3751.87

3722.38

-29.49

 

10-11-02

11-07-02

500

Siebel Systems

3339.6

4616.4

1276.8

 

10-17-02

11-07-02

500

Siebel Systems

3624.55

4616.41

991.86

 

10-29-02

11-07-02

500

Tellabs Inc.

3479.5

4232.4

752.9

 

11-06-02

11-13-02

500

Albertsons Inc.

10669.65

9948.99

-720.66

 

10-29-02

11-13-02

500

Baxter Travenol Labs

13538.5

13098.45

-440.05

 

11-12-02

11-13-02

300

Halliburton Co.

5175.94

4911.1

-264.84

 

09-30-02

11-13-02

500

QWest Comm

1182

1981.75

799.75

 

10-07-02

11-13-02

500

QWest Comm

1032

1981.75

949.75

 

10-29-02

11-13-02

1000

QWest Comm

3402.7

3963.5

560.8

 

11-01-02

11-13-02

1000

QWest Comm

3302

3963.5

661.5

 

10-29-02

11-14-02

500

Duke Power

9739.5

9162.37

-577.13

 

11-04-02

11-14-02

1000

Corning Inc.

2107.1

2256.03

148.93

 

11-08-02

11-14-02

400

Ionics Inc.

8166.92

8453.74

286.82

 

11-08-02

11-14-02

500

Schering-Plough

10834.15

11007.06

172.91

 

11-05-02

11-14-02

500

Texas Utilities Co

7189.5

7345.97

156.47

 

10-29-02

11-14-02

500

Xcel Energy

5389.5

5042.84

-346.66

 

11-12-02

11-15-02

300

Honeywell Inc

8140

7565.27

-574.73

 

10-22-02

11-15-02

500

Alliant Energy Corp.

9149.2

7449.37

-1699.83

 

10-09-02

11-19-02

500

AMR Corp

1862.35

3424.28

1561.93

 

11-01-02

11-19-02

500

AMR Corp

2411.7

3424.29

1012.59

 

11-07-02

11-19-02

500

EMC Corp.

2832

3143.9

311.9

 

11-08-02

11-19-02

500

EMC Corp.

2882

3143.9

261.9

 

10-17-02

11-19-02

500

Sears Roebuck & Co.

13675.6

11043.99

-2631.61

 

11-19-02

11-19-02

500

UAL Corporation

1832.66

1448.23

-384.43

 

10-31-02

11-19-02

1000

Sector Spdr Trust Financial

22792

22457.32

-334.68

 

11-14-02

11-20-02

1000

QWest Comm

3903.3

3618.18

-285.12

 

11-15-02

11-20-02

2000

QWest Comm

7774.2

7236.37

-537.83

 

11-04-02

11-21-02

500

Broadwing Inc.

1226.35

1255.86

29.51

 

11-05-02

11-26-02

500

Advanced Micro

3118.05

2943.16

-174.89

 

11-08-02

11-26-02

500

Advanced Micro

3372

2943.16

-428.84

 

11-21-02

11-26-02

500

Advanced Micro

3282

2943.16

-338.84

 

11-21-02

11-26-02

500

Advanced Micro

2959.85

2943.16

-16.69

 

10-31-02

11-26-02

1000

Brocade Communications

7503.73

7146.85

-356.88

 

11-12-02

11-26-02

500

Brocade Communications

3232

3573.42

341.42

 

11-22-02

11-26-02

1500

EMC Corp.

9543.07

9964.74

421.67

 

10-11-02

11-26-02

500

Gap Inc

4939.5

7035.28

2095.78

 

11-20-02

11-26-02

500

Hewlett Packard

8409

9190.22

781.22

 

11-04-02

11-26-02

500

Sprint PCS

1602

2548.6

946.6

 

11-06-02

11-26-02

500

Sprint PCS

1707

2548.6

841.6

 

11-07-02

11-26-02

500

Sprint PCS

2229.95

2548.61

318.66

 

11-15-02

11-26-02

500

Tellabs Inc.

3585.7

4335.36

749.66

 

11-20-02

11-26-02

500

Veeco Instruments

4939

6195.96

1256.96

 

11-26-02

11-29-02

2000

Lucent Technologies

2740.8

3547.29

806.49

 

11-21-02

11-29-02

250

Sony Corp.

10504.5

11045.16

540.66

 

10-18-02

12-02-02

1000

Sun Microsystems Inc.

2952

3763.48

811.48

 

10-21-02

12-02-02

1000

Sun Microsystems Inc.

2621.3

3763.48

1142.18

 

11-27-02

12-03-02

1000

Brocade Communications

5453.4

5614.09

160.69

 

10-07-02

12-03-02

500

General Motors Cl H

4482

5315.48

833.48

 

10-07-02

12-03-02

1500

JDS Uniphase

2574.2

4799.85

2225.65

 

10-23-02

12-03-02

1000

JDS Uniphase

2345.93

3199.9

853.97

 

11-27-02

12-03-02

500

Masco Corp.

9838.15

9782.18

-55.97

 

10-11-02

12-04-02

1000

General Motors Cl H

8242

11619.34

3377.34

 

11-15-02

12-06-02

500

Siebel Systems

3905.6

4520.56

614.96

 

11-20-02

12-06-02

500

Siebel Systems

3958.98

4520.56

561.58

 

11-25-02

12-06-02

500

Siebel Systems

3768.7

4520.56

751.86

 

11-29-02

12-06-02

500

Siebel Systems

4305.8

4520.57

214.77

 

11-21-02

12-09-02

500

First Horizon

2020.96

3000.6

979.64

 

12-04-02

12-09-02

500

First Horizon

2733.9

3000.61

266.71

 

11-22-02

12-10-02

500

Home Depot Inc.

12457.88

12935.11

477.23

 

11-20-02

12-13-02

500

Hain Celestial Group

6476.5

7564.67

1088.17

 

11-21-02

12-13-02

500

Hain Celestial Group

6406.27

7564.67

1158.4

 

12-11-02

12-13-02

500

Yahoo Inc.

8185

8127.95

-57.05

 

12-11-02

12-18-02

1000

Real Networks

3997.9

3997.87

-0.03

 

10-29-02

12-23-02

500

J P Morgan & Co Inc.

10184

12065.38

1881.38

 

12-17-02

12-23-02

500

Masco Corp.

9902

10386.03

484.03

 

12-20-02

12-23-02

500

McDonalds Corp.

7957

7997.75

40.75

 

11-05-02

12-24-02

500

AOL Time Warner

7431.55

6536.63

-894.92

 

11-20-02

12-24-02

500

AOL Time Warner

7693.97

6536.63

-1157.34

 

12-04-02

12-24-02

500

AOL Time Warner

7453.4

6536.64

-916.76

 

12-17-02

12-24-02

500

Walt Disney Co

8389

8236.25

-152.75

 

12-18-02

12-24-02

500

Walt Disney Co

8339.45

8236.25

-103.2

 

12-04-02

12-27-02

500

Kroger Co

7951.77

7621.27

-330.5

 

12-06-02

12-27-02

500

Kroger Co

7725.7

7621.27

-104.43

 

11-08-02

12-30-02

500

Wild Oats Markets Inc.

5450.62

5225.99

-224.63

 

11-12-02

12-30-02

400

Wild Oats Markets Inc.

4048

4180.79

132.79

 

11-15-02

12-30-02

100

Wild Oats Markets Inc.

891.4

1045.2

153.8

 

10-31-02

12-31-02

500

Carpenter Technology Corp

5340.5

6239.31

898.81

 

11-29-02

12-31-02

500

Carpenter Technology Corp

6239

6239.31

0.31

 

 

 

 

 

 

 

--------------

 

TOTAL GAINS

 

 

 

 

115008.62

0

TOTAL LOSSES

 

 

 

 

-78751.59

0

 

 

 

 

---------------

 

 

 

 

 

 

 

3190046

3226302.6

36257.03

0

 

 

=========

 

 

 

TOTAL REALIZED GAIN/LOSS

36,257.03

 

 

 

 

The market value of the Model Portfolio is net of advisory fees, brokerage commissions and other related expenses. Model Portfolio results reflect reinvestment of dividends and other earnings. The Model Portfolio column is the overall return of the portfolio for the period shown.

The S & P 500 is an unmanaged S & P composite of 500 stocks widely regarded as representative of the stock market in general. Unless otherwise indicated, index results include reinvested dividends and do not reflect sales charges.

Past performance is not indicative of future results. Other methods may produce different results for individual portfolios and for different periods and may vary depending on market conditions and the composition of an individual portfolio. Care should be used when comparing these results to those published by other investment advisors, other investment vehicles and unmanaged indices due to possible differences in calculation methods. A list of all recommendations made by Lemley, Yarling Management Co. for the preceding one-year period is available to advisory clients upon request.

PAST PERFORMANCE IS NO INDICATION OF FUTURE PERFORMANCE

The factual statements herein have been taken from sources we believe to be reliable but such statements are made without any representation as to accuracy or completeness or otherwise. From time to time the Lemley Letter, or one or more of its officers or employees, may buy and sell as agent the securities referred to herein or options relating thereto, and may have a long or short position in such securities or options. This report should not be construed as a solicitation or offer of the purchase or sale of securities. Prices shown are approximate. Past performance is no indication of future performance.