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, 2003

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:      Verizon Investment Management Corp.
Address:   695 Main Street, 6th Floor
           Stamford, Connecticut  06901

Form 13F File Number: 028-04063

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:  Marie LoGiudice
       ---------------
Title: Vice President-Operations
       -------------------------
Phone: 203 965-3726
       -------------------------------------

Signature, Place, and Date of Signing:

   /S/                            Stamford, Connecticut               4/30/03
   ---------------------          ---------------------               -------
       [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).)

[ ]  13F COMBINATION REPORT. (Check here if a portion of the holdings for this
     reporting manager are reported in this report and a portion are reported by
     other reporting manager(s).)



                              Form 13F SUMMARY PAGE

Report summary:


Number of Other Included Managers:                     0
                                                     ------------------

Form 13F Information Table Entry Total:                902
                                                     ------------------

Form 13F Information Table Value Total:              $5,267,998
                                                     ------------------
                                                     (thousands)

List of Other Included Managers:

Provide a numbered list of the name(s) and Form 13F file number(s) of all
institutional investment managers with respect to which this report is filed,
other than the manager filing this report.

         NONE
         ------------------------------------------------------------



                       VERIZON INVESTMENT MANAGEMENT CORP.
                     FORM 13F - SOLE INSTR V. NONE AUTHORITY
                                 MARCH 31, 2003



           ITEM 1:               ITEM 2:     ITEM 3:     ITEM 4:      ITEM 5:        ITEM 6:        ITEM 7:         ITEM 8:
---------------------------- -------------- --------- ------------   --------- -------------------- -------- -----------------------
                                                                                 INV. DISCRETION             VOTING AUTHORITY SHARES
                                                                                (A)   (B)     (C)               (A)  (B)       (C)
                                                      PENSION FAIR   SHARES OR      SHARED          MANAGERS
                                              CUSIP   MARKET VALUE   PRINCIPAL      AS DEF.  SHARED   SEE
NAME OF ISSUER               TITLE OF CLASS  NUMBER      ($000)       AMOUNT   SOLE INSTR. V OTHER  INSTR.V    SOLE SHARED    NONE
--------------               -------------- --------- ------------   --------- ---- -------- ------ --------   ---- ------    ----
                                                                                          
ACE LTD                      ORD            G0070K103         927       32,005   X                                            32,005
BUNGE LIMITED                COM            G16962105         448       17,800   X                                            17,800
COOPER INDS LTD              CL A           G24182100       1,629       45,630   X                                            45,630
INGERSOLL-RAND COMPANY LTD   CL A           G4776G101       3,965      102,746   X                                           102,746
NABORS INDUSTRIES LTD        SHS            G6359F103       1,276       31,994   X                                            31,994
NOBLE CORPORATION            SHS            G65422100         532       16,923   X                                            16,923
TRANSOCEAN INC               ORD            G90078109       1,903       93,037   X                                            93,037
WEATHERFORD INTERNATIONAL LT COM            G95089101         703       18,600   X                                            18,600
XL CAP LTD                   CL A           G98255105       1,487       21,010   X                                            21,010
A D C TELECOMMUNICATIONS     COM            000886101         408      198,301   X                                           198,301
AFLAC INC                    COM            001055102      10,266      320,315   X                                           320,315
AGCO CORP                    COM            001084102         661       41,060   X                                            41,060
AGL RES INC                  COM            001204106         685       29,000   X                                            29,000
AES CORP                     COM            00130H105         483      133,499   X                                           133,499
AOL TIME WARNER INC          COM            00184A105      29,669    2,731,946   X                                         2,731,946
AT&T CORP                    COM NEW        001957505       8,786      542,355   X                                           542,355
AT&T WIRELESS SVCS INC       COM            00209A106       7,754    1,174,885   X                                         1,174,885
ABBOTT LABS                  COM            002824100      41,572    1,105,342   X                                         1,105,342
ABERCROMBIE & FITCH CO       CL A           002896207         572       19,056   X                                            19,056
ACCREDO HEALTH INC           COM            00437V104         801       32,909   X                                            32,909
ACTIVISION INC NEW           COM NEW        004930202       1,223       84,664   X                                            84,664
ACXIOM CORP                  COM            005125109         234       13,927   X                                            13,927
ADAPTEC INC                  COM            00651F108          92       15,178   X                                            15,178
ADOBE SYS INC                COM            00724F101       4,317      140,011   X                                           140,011
ADVANCED FIBRE COMMUNICATION COM            00754A105         183       12,117   X                                            12,117
ADVANCEPCS                   COM            00790K109         468       16,510   X                                            16,510
ADVANCED MICRO DEVICES INC   COM            007903107         494       79,999   X                                            79,999
ADVENT SOFTWARE INC          COM            007974108         254       20,893   X                                            20,893
AETNA INC NEW                COM            00817Y108       4,964      100,681   X                                           100,681
AFFILIATED COMPUTER SERVICES CL A           008190100       6,254      141,296   X                                           141,296
AFFYMETRIX INC               COM            00826T108         803       30,872   X                                            30,872
AGERE SYS INC                CL B           00845V209         415      276,745   X                                           276,745
AGILENT TECHNOLOGIES INC     COM            00846U101       1,593      121,172   X                                           121,172
AIR PRODS & CHEMS INC        COM            009158106       4,783      115,441   X                                           115,441
ALBEMARLE CORP               COM            012653101       1,180       48,473   X                                            48,473
ALBERTO CULVER CO            CL B CONV      013068101       3,281       66,578   X                                            66,578
ALBERTSONS INC               COM            013104104       3,267      173,322   X                                           173,322
ALCOA INC                    COM            013817101       9,785      504,899   X                                           504,899
ALLEGHENY ENERGY INC         COM            017361106         174       28,004   X                                            28,004
ALLEGHENY TECHNOLOGIES INC   COM            01741R102         110       37,767   X                                            37,767
ALLEN TELECOM INC            COM            018091108         344       35,300   X                                            35,300
ALLERGAN INC                 COM            018490102       3,704       54,302   X                                            54,302
ALLIANCE DATA SYSTEMS CORP   COM            018581108         189       11,126   X                                            11,126
ALLIANT TECHSYSTEMS INC      COM            018804104       2,320       42,949   X                                            42,949
ALLIED CAP CORP NEW          COM            01903Q108         389       19,467   X                                            19,467
ALLIED WASTE INDS INC        COM PAR$.01NEW 019589308         401       50,165   X                                            50,165
ALLSTATE CORP                COM            020002101      20,769      626,127   X                                           626,127
ALLTEL CORP                  COM            020039103      13,111      292,925   X                                           292,925
ALTERA CORP                  COM            021441100       2,012      148,562   X                                           148,562
ALTRIA GROUP INC             COM            02209S103      36,993    1,234,750   X                                         1,234,750
AMAZON COM INC               COM            023135106       3,607      138,589   X                                           138,589
AMBAC FINL GROUP INC         COM            023139108       4,677       92,581   X                                            92,581
AMERADA HESS CORP            COM            023551104       2,121       47,918   X                                            47,918
AMEREN CORP                  COM            023608102       2,363       60,503   X                                            60,503



                                       1


                       VERIZON INVESTMENT MANAGEMENT CORP.
                     FORM 13F - SOLE INSTR V. NONE AUTHORITY
                                 MARCH 31, 2003



           ITEM 1:               ITEM 2:     ITEM 3:     ITEM 4:      ITEM 5:        ITEM 6:        ITEM 7:         ITEM 8:
---------------------------- -------------- --------- ------------   --------- -------------------- -------- -----------------------
                                                                                 INV. DISCRETION             VOTING AUTHORITY SHARES
                                                                                (A)   (B)     (C)               (A)  (B)       (C)
                                                      PENSION FAIR   SHARES OR      SHARED          MANAGERS
                                              CUSIP   MARKET VALUE   PRINCIPAL      AS DEF.  SHARED   SEE
NAME OF ISSUER               TITLE OF CLASS  NUMBER      ($000)       AMOUNT   SOLE INSTR. V OTHER  INSTR.V    SOLE SHARED    NONE
--------------               -------------- --------- ------------   --------- ---- -------- ------ --------   ---- ------    ----
                                                                                          
AMERICAN EAGLE OUTFITTERS NE COM            02553E106         161       11,115   X                                            11,115
AMERICAN ELEC PWR INC        COM            025537101       4,831      211,437   X                                           211,437
AMERICAN EXPRESS CO          COM            025816109      23,185      697,725   X                                           697,725
AMERICAN GREETINGS CORP      CL A           026375105         157       12,005   X                                            12,005
AMERICAN INTL GROUP INC      COM            026874107      72,038    1,456,779   X                                         1,456,779
AMERICAN NATL INS CO         COM            028591105         696        8,929   X                                             8,929
AMERICAN PWR CONVERSION CORP COM            029066107         622       43,683   X                                            43,683
AMERICAN STD COS INC DEL     COM            029712106       3,115       45,291   X                                            45,291
AMERICREDIT CORP             COM            03060R101          95       28,689   X                                            28,689
AMERISOURCEBERGEN CORP       COM            03073E105       2,731       52,020   X                                            52,020
AMETEK INC NEW               COM            031100100       1,608       48,700   X                                            48,700
AMGEN INC                    COM            031162100      48,612      844,691   X                                           844,691
AMKOR TECHNOLOGY INC         COM            031652100          74       14,333   X                                            14,333
AMPHENOL CORP NEW            CL A           032095101       2,759       67,710   X                                            67,710
AMSOUTH BANCORPORATION       COM            032165102       2,369      119,190   X                                           119,190
ANADARKO PETE CORP           COM            032511107       4,193       92,158   X                                            92,158
ANALOG DEVICES INC           COM            032654105       4,656      169,292   X                                           169,292
ANDREW CORP                  COM            034425108         158       28,816   X                                            28,816
ANDRX CORP DEL               ANDRX GROUP    034553107         167       14,181   X                                            14,181
ANHEUSER BUSCH COS INC       COM            035229103      30,783      660,434   X                                           660,434
ANNTAYLOR STORES CORP        COM            036115103         424       20,650   X                                            20,650
ANTHEM INC                   COM            03674B104       5,278       79,674   X                                            79,674
AON CORP                     COM            037389103       1,114       53,887   X                                            53,887
APACHE CORP                  COM            037411105       4,956       80,274   X                                            80,274
APARTMENT INVT & MGMT CO     CL A           03748R101         600       16,459   X                                            16,459
APOGENT TECHNOLOGIES INC     COM            03760A101         219       15,000   X                                            15,000
APOLLO GROUP INC             CL A           037604105       9,171      183,790   X                                           183,790
APOLLO GROUP INC             COM UNV PHOENX 037604204       2,796       65,562   X                                            65,562
APPLE COMPUTER INC           COM            037833100       1,813      128,199   X                                           128,199
APPLEBEES INTL INC           COM            037899101       2,737       97,623   X                                            97,623
APPLERA CORP                 COM AP BIO GRP 038020103       1,292       81,649   X                                            81,649
APPLIED MICRO CIRCUITS CORP  COM            03822W109         258       79,100   X                                            79,100
APPLIED MATLS INC            COM            038222105      16,003    1,272,093   X                                         1,272,093
AQUILA INC                   COM            03840P102          23       11,127   X                                            11,127
ARCHER DANIELS MIDLAND CO    COM            039483102       1,241      114,937   X                                           114,937
ARCHSTONE SMITH TR           COM            039583109         238       10,840   X                                            10,840
ARROW ELECTRS INC            COM            042735100         512       34,833   X                                            34,833
ASHLAND INC                  COM            044204105         543       18,299   X                                            18,299
ASSOCIATED BANC CORP         COM            045487105       1,096       33,889   X                                            33,889
ATMEL CORP                   COM            049513104         115       71,581   X                                            71,581
AUTODESK INC                 COM            052769106         399       26,173   X                                            26,173
AUTOLIV INC                  COM            052800109       1,057       52,930   X                                            52,930
AUTOMATIC DATA PROCESSING IN COM            053015103       9,072      294,643   X                                           294,643
AUTONATION INC               COM            05329W102         643       50,405   X                                            50,405
AUTOZONE INC                 COM            053332102       5,667       82,482   X                                            82,482
AVAYA INC                    COM            053499109         150       73,600   X                                            73,600
AVERY DENNISON CORP          COM            053611109       8,334      142,051   X                                           142,051
AVID TECHNOLOGY INC          COM            05367P100         726       32,700   X                                            32,700
AVNET INC                    COM            053807103         830       79,187   X                                            79,187
AVON PRODS INC               COM            054303102       9,019      158,088   X                                           158,088
AZTAR CORP                   COM            054802103         216       16,100   X                                            16,100
BB&T CORP                    COM            054937107       5,717      181,893   X                                           181,893
BISYS GROUP INC              COM            055472104         686       42,044   X                                            42,044
BJS WHOLESALE CLUB INC       COM            05548J106         180       15,931   X                                            15,931



                                       2


                       VERIZON INVESTMENT MANAGEMENT CORP.
                     FORM 13F - SOLE INSTR V. NONE AUTHORITY
                                 MARCH 31, 2003



           ITEM 1:               ITEM 2:     ITEM 3:     ITEM 4:      ITEM 5:        ITEM 6:        ITEM 7:         ITEM 8:
---------------------------- -------------- --------- ------------   --------- -------------------- -------- -----------------------
                                                                                 INV. DISCRETION             VOTING AUTHORITY SHARES
                                                                                (A)   (B)     (C)               (A)  (B)       (C)
                                                      PENSION FAIR   SHARES OR      SHARED          MANAGERS
                                              CUSIP   MARKET VALUE   PRINCIPAL      AS DEF.  SHARED   SEE
NAME OF ISSUER               TITLE OF CLASS  NUMBER      ($000)       AMOUNT   SOLE INSTR. V OTHER  INSTR.V    SOLE SHARED    NONE
--------------               -------------- --------- ------------   --------- ---- -------- ------ --------   ---- ------    ----
                                                                                          
BJ SVCS CO                   COM            055482103       4,550      132,311   X                                           132,311
BMC SOFTWARE INC             COM            055921100       1,478       97,963   X                                            97,963
BAKER HUGHES INC             COM            057224107       7,369      246,192   X                                           246,192
BALL CORP                    COM            058498106       6,563      117,834   X                                           117,834
BANK OF AMERICA CORPORATION  COM            060505104      90,676    1,356,620   X                                         1,356,620
BANK HAWAII CORP             COM            062540109       3,638      118,102   X                                           118,102
BANK NEW YORK INC            COM            064057102       3,676      179,334   X                                           179,334
BANK ONE CORP                COM            06423A103      18,563      536,204   X                                           536,204
BANKNORTH GROUP INC NEW      COM            06646R107       2,178       99,865   X                                            99,865
BARD C R INC                 COM            067383109       1,935       30,682   X                                            30,682
BARR LABS INC                COM            068306109       3,053       53,566   X                                            53,566
BAUSCH & LOMB INC            COM            071707103         669       20,333   X                                            20,333
BAXTER INTL INC              COM            071813109       5,401      289,771   X                                           289,771
BEA SYS INC                  COM            073325102       1,263      124,520   X                                           124,520
BEAR STEARNS COS INC         COM            073902108      13,518      206,061   X                                           206,061
BEARINGPOINT INC             COM            074002106         244       38,311   X                                            38,311
BECKMAN COULTER INC          COM            075811109       2,630       77,272   X                                            77,272
BECTON DICKINSON & CO        COM            075887109       3,983      115,651   X                                           115,651
BED BATH & BEYOND INC        COM            075896100       5,476      158,532   X                                           158,532
BELLSOUTH CORP               COM            079860102      21,383      986,773   X                                           986,773
BELO CORP                    COM SER A      080555105         537       26,520   X                                            26,520
BEMIS INC                    COM            081437105       2,168       51,553   X                                            51,553
BERKSHIRE HATHAWAY INC DEL   CL A           084670108       6,890          108   X                                               108
BEST BUY INC                 COM            086516101       4,840      179,455   X                                           179,455
BIG LOTS INC                 COM            089302103         356       31,676   X                                            31,676
BIOGEN INC                   COM            090597105       1,886       62,948   X                                            62,948
BIOMET INC                   COM            090613100       2,841       92,690   X                                            92,690
BLACK & DECKER CORP          COM            091797100       1,272       36,479   X                                            36,479
BLACKROCK INC                CL A           09247X101       1,586       36,423   X                                            36,423
BLOCK H & R INC              COM            093671105       9,049      211,973   X                                           211,973
BOEING CO                    COM            097023105      10,826      432,016   X                                           432,016
BOISE CASCADE CORP           COM            097383103         286       13,112   X                                            13,112
BORG WARNER INC              COM            099724106       1,767       36,933   X                                            36,933
BOSTON SCIENTIFIC CORP       COM            101137107       8,873      217,696   X                                           217,696
BOWATER INC                  COM            102183100       1,311       35,296   X                                            35,296
BRINKER INTL INC             COM            109641100       2,747       90,074   X                                            90,074
BRISTOL MYERS SQUIBB CO      COM            110122108      18,326      867,320   X                                           867,320
BROADCOM CORP                CL A           111320107         827       66,970   X                                            66,970
BROCADE COMMUNICATIONS SYS I COM            111621108         280       57,329   X                                            57,329
BROWN & BROWN INC            COM            115236101       1,190       38,015   X                                            38,015
BROWN FORMAN CORP            CL B           115637209       1,667       21,673   X                                            21,673
BRUNSWICK CORP               COM            117043109         314       16,532   X                                            16,532
BURLINGTON NORTHN SANTA FE C COM            12189T104       6,237      250,479   X                                           250,479
BURLINGTON RES INC           COM            122014103       2,412       50,552   X                                            50,552
CDW COMPUTER CTRS INC        COM            125129106       2,934       71,907   X                                            71,907
C H ROBINSON WORLDWIDE INC   COM            12541W100         651       19,905   X                                            19,905
CIGNA CORP                   COM            125509109       4,899      107,158   X                                           107,158
CMS ENERGY CORP              COM            125896100         215       48,856   X                                            48,856
CPB INC                      COM            125903104         570       22,400   X                                            22,400
CSG SYS INTL INC             COM            126349109         111       12,785   X                                            12,785
CSX CORP                     COM            126408103       1,115       39,111   X                                            39,111
CVS CORP                     COM            126650100       2,057       86,235   X                                            86,235
CABLEVISION SYS CORP         CL A NY CABLVS 12686C109         607       31,948   X                                            31,948
CABOT CORP                   COM            127055101         640       26,832   X                                            26,832



                                       3


                       VERIZON INVESTMENT MANAGEMENT CORP.
                     FORM 13F - SOLE INSTR V. NONE AUTHORITY
                                 MARCH 31, 2003



           ITEM 1:               ITEM 2:     ITEM 3:     ITEM 4:      ITEM 5:        ITEM 6:        ITEM 7:         ITEM 8:
---------------------------- -------------- --------- ------------   --------- -------------------- -------- -----------------------
                                                                                 INV. DISCRETION             VOTING AUTHORITY SHARES
                                                                                (A)   (B)     (C)               (A)  (B)       (C)
                                                      PENSION FAIR   SHARES OR      SHARED          MANAGERS
                                              CUSIP   MARKET VALUE   PRINCIPAL      AS DEF.  SHARED   SEE
NAME OF ISSUER               TITLE OF CLASS  NUMBER      ($000)       AMOUNT   SOLE INSTR. V OTHER  INSTR.V    SOLE SHARED    NONE
--------------               -------------- --------- ------------   --------- ---- -------- ------ --------   ---- ------    ----
                                                                                          
CACI INTL INC                CL A           127190304         834       25,000   X                                            25,000
CADENCE DESIGN SYSTEM INC    COM            127387108         947       94,677   X                                            94,677
CALPINE CORP                 COM            131347106         357      108,047   X                                           108,047
CAMPBELL SOUP CO             COM            134429109       1,341       63,835   X                                            63,835
CAPITAL ONE FINL CORP        COM            14040H105       5,138      171,223   X                                           171,223
CARDINAL HEALTH INC          COM            14149Y108      14,719      258,371   X                                           258,371
CAREER EDUCATION CORP        COM            141665109       1,794       36,682   X                                            36,682
CAREMARK RX INC              COM            141705103       1,544       85,075   X                                            85,075
CARLISLE COS INC             COM            142339100         899       22,200   X                                            22,200
CARMAX INC                   COM            143130102         255       17,484   X                                            17,484
CARNIVAL CORP                COM            143658102       2,309       95,783   X                                            95,783
CATELLUS DEV CORP            COM            149111106         323       15,377   X                                            15,377
CATERPILLAR INC DEL          COM            149123101      10,873      220,991   X                                           220,991
CELGENE CORP                 COM            151020104         954       36,563   X                                            36,563
CENDANT CORP                 COM            151313103       7,889      621,204   X                                           621,204
CENTERPOINT ENERGY INC       COM            15189T107         378       53,630   X                                            53,630
CENTEX CORP                  COM            152312104       1,661       30,550   X                                            30,550
CENTURYTEL INC               COM            156700106       4,878      176,732   X                                           176,732
CEPHALON INC                 COM            156708109         808       20,240   X                                            20,240
CERIDIAN CORP NEW            COM            156779100         390       27,898   X                                            27,898
CERNER CORP                  COM            156782104         203        6,275   X                                             6,275
CERTEGY INC                  COM            156880106         358       14,217   X                                            14,217
CHARLES RIV LABS INTL INC    COM            159864107       1,071       41,970   X                                            41,970
CHARTER ONE FINL INC         COM            160903100       1,191       43,050   X                                            43,050
CHECKFREE CORP NEW           COM            162813109       1,373       61,073   X                                            61,073
CHEESECAKE FACTORY INC       COM            163072101         422       13,084   X                                            13,084
CHEMED CORP                  COM            163596109         650       20,500   X                                            20,500
CHEVRONTEXACO CORP           COM            166764100      39,028      603,687   X                                           603,687
CHICOS FAS INC               COM            168615102       1,655       82,770   X                                            82,770
CHIRON CORP                  COM            170040109       2,746       73,220   X                                            73,220
CHOICEPOINT INC              COM            170388102       2,878       84,908   X                                            84,908
CHUBB CORP                   COM            171232101       2,724       61,462   X                                            61,462
CHURCH & DWIGHT INC          COM            171340102         727       23,942   X                                            23,942
CIENA CORP                   COM            171779101         513      117,287   X                                           117,287
CIMAREX ENERGY CO            COM            171798101         518       26,658   X                                            26,658
CINCINNATI FINL CORP         COM            172062101       1,929       54,998   X                                            54,998
CINERGY CORP                 COM            172474108       4,415      131,216   X                                           131,216
CIRCUIT CITY STORE INC       COM            172737108         222       42,649   X                                            42,649
CISCO SYS INC                COM            17275R102      74,355    5,728,401   X                                         5,728,401
CINTAS CORP                  COM            172908105       2,692       81,826   X                                            81,826
CITIGROUP INC                COM            172967101     118,184    3,430,595   X                                         3,430,595
CITIZENS COMMUNICATIONS CO   COM            17453B101       1,299      130,174   X                                           130,174
CITRIX SYS INC               COM            177376100         751       57,074   X                                            57,074
CLARCOR INC                  COM            179895107       2,501       69,100   X                                            69,100
CLEAR CHANNEL COMMUNICATIONS COM            184502102       8,341      245,916   X                                           245,916
CLOROX CO DEL                COM            189054109       7,236      156,718   X                                           156,718
COACH INC                    COM            189754104       6,897      179,950   X                                           179,950
COCA COLA CO                 COM            191216100      56,673    1,400,034   X                                         1,400,034
COCA COLA ENTERPRISES INC    COM            191219104       3,247      173,745   X                                           173,745
COLGATE PALMOLIVE CO         COM            194162103      11,799      216,731   X                                           216,731
COLUMBIA SPORTSWEAR CO       COM            198516106       1,915       51,518   X                                            51,518
COMCAST CORP NEW             CL A           20030N101      24,858      869,450   X                                           869,450
COMCAST CORP NEW             CL A SPL       20030N200       3,516      127,900   X                                           127,900
COMERICA INC                 COM            200340107       4,803      126,783   X                                           126,783



                                       4


                       VERIZON INVESTMENT MANAGEMENT CORP.
                     FORM 13F - SOLE INSTR V. NONE AUTHORITY
                                 MARCH 31, 2003



           ITEM 1:               ITEM 2:     ITEM 3:     ITEM 4:      ITEM 5:        ITEM 6:        ITEM 7:         ITEM 8:
---------------------------- -------------- --------- ------------   --------- -------------------- -------- -----------------------
                                                                                 INV. DISCRETION             VOTING AUTHORITY SHARES
                                                                                (A)   (B)     (C)               (A)  (B)       (C)
                                                      PENSION FAIR   SHARES OR      SHARED          MANAGERS
                                              CUSIP   MARKET VALUE   PRINCIPAL      AS DEF.  SHARED   SEE
NAME OF ISSUER               TITLE OF CLASS  NUMBER      ($000)       AMOUNT   SOLE INSTR. V OTHER  INSTR.V    SOLE SHARED    NONE
--------------               -------------- --------- ------------   --------- ---- -------- ------ --------   ---- ------    ----
                                                                                          
COMMERCE BANCORP INC NJ      COM            200519106       3,067       77,175   X                                            77,175
COMMERCE BANCSHARES INC      COM            200525103       1,233       33,730   X                                            33,730
COMMERCIAL FEDERAL CORPORATI COM            201647104         302       13,900   X                                            13,900
COMPASS BANCSHARES INC       COM            20449H109         647       20,687   X                                            20,687
COMPUTER ASSOC INTL INC      COM            204912109       1,849      135,347   X                                           135,347
COMPUTER SCIENCES CORP       COM            205363104       1,481       45,498   X                                            45,498
COMPUWARE CORP               COM            205638109         305       90,003   X                                            90,003
COMVERSE TECHNOLOGY INC      COM PAR $0.10  205862402         655       57,883   X                                            57,883
CONAGRA FOODS INC            COM            205887102       5,336      265,758   X                                           265,758
CONCORD EFS INC              COM            206197105       2,735      290,915   X                                           290,915
CONEXANT SYSTEMS INC         COM            207142100          55       36,923   X                                            36,923
CONNECTICUT BANCSHARES INC   COM            207540105       1,454       35,000   X                                            35,000
CONOCOPHILLIPS               COM            20825C104      29,207      544,912   X                                           544,912
CONSOLIDATED EDISON INC      COM            209115104       4,093      106,403   X                                           106,403
CONSTELLATION BRANDS INC     CL A           21036P108       1,969       86,731   X                                            86,731
CONSTELLATION ENERGY GROUP I COM            210371100       1,890       68,171   X                                            68,171
CONVERGYS CORP               COM            212485106         983       74,506   X                                            74,506
COOPER CAMERON CORP          COM            216640102       3,674       74,213   X                                            74,213
COOPER TIRE & RUBR CO        COM            216831107         369       30,214   X                                            30,214
COORS ADOLPH CO              CL B           217016104       3,894       80,296   X                                            80,296
COPART INC                   COM            217204106         115       14,989   X                                            14,989
CORNING INC                  COM            219350105       1,950      333,985   X                                           333,985
COSTCO WHSL CORP NEW         COM            22160K105       4,486      149,390   X                                           149,390
COUNTRYWIDE FINANCIAL CORP   COM            222372104       8,828      153,535   X                                           153,535
COVANCE INC                  COM            222816100         307       13,300   X                                            13,300
COVENTRY HEALTH CARE INC     COM            222862104       2,196       66,742   X                                            66,742
COX COMMUNICATIONS INC NEW   CL A           224044107         579       18,602   X                                            18,602
COX RADIO INC                CL A           224051102         948       45,888   X                                            45,888
CRANE CO                     COM            224399105         321       18,426   X                                            18,426
CYMER INC                    COM            232572107         381       16,095   X                                            16,095
CYPRESS SEMICONDUCTOR CORP   COM            232806109         195       28,303   X                                            28,303
CYTYC CORP                   COM            232946103         533       40,854   X                                            40,854
D R HORTON INC               COM            23331A109         374       19,499   X                                            19,499
DST SYS INC DEL              COM            233326107       1,209       44,432   X                                            44,432
DTE ENERGY CO                COM            233331107      11,971      309,730   X                                           309,730
DANA CORP                    COM            235811106         193       27,279   X                                            27,279
DANAHER CORP DEL             COM            235851102       4,665       70,933   X                                            70,933
DARDEN RESTAURANTS INC       COM            237194105       1,069       59,898   X                                            59,898
DAVITA INC                   COM            23918K108         606       29,213   X                                            29,213
DEAN FOODS CO NEW            COM            242370104       6,438      150,042   X                                           150,042
DEERE & CO                   COM            244199105       4,780      121,748   X                                           121,748
DELL COMPUTER CORP           COM            247025109      59,925    2,194,256   X                                         2,194,256
DELPHI CORP                  COM            247126105         703      102,926   X                                           102,926
DELTA AIR LINES INC DEL      COM            247361108         202       22,651   X                                            22,651
DENBURY RES INC              COM NEW        247916208         393       36,300   X                                            36,300
DELUXE CORP                  COM            248019101       3,488       86,911   X                                            86,911
DENTSPLY INTL INC NEW        COM            249030107       1,559       44,809   X                                            44,809
DEVON ENERGY CORP NEW        COM            25179M103       5,597      116,081   X                                           116,081
DEVRY INC DEL                COM            251893103         239       12,809   X                                            12,809
DIAL CORP NEW                COM            25247D101       2,560      131,969   X                                           131,969
DIAMOND OFFSHORE DRILLING IN COM            25271C102         252       12,963   X                                            12,963
DIEBOLD INC                  COM            253651103       3,334       98,242   X                                            98,242
DILLARDS INC                 CL A           254067101         429       33,209   X                                            33,209
DISNEY WALT CO               COM DISNEY     254687106      21,843    1,283,350   X                                         1,283,350



                                       5


                       VERIZON INVESTMENT MANAGEMENT CORP.
                     FORM 13F - SOLE INSTR V. NONE AUTHORITY
                                 MARCH 31, 2003



           ITEM 1:               ITEM 2:     ITEM 3:     ITEM 4:      ITEM 5:        ITEM 6:        ITEM 7:         ITEM 8:
---------------------------- -------------- --------- ------------   --------- -------------------- -------- -----------------------
                                                                                 INV. DISCRETION             VOTING AUTHORITY SHARES
                                                                                (A)   (B)     (C)               (A)  (B)       (C)
                                                      PENSION FAIR   SHARES OR      SHARED          MANAGERS
                                              CUSIP   MARKET VALUE   PRINCIPAL      AS DEF.  SHARED   SEE
NAME OF ISSUER               TITLE OF CLASS  NUMBER      ($000)       AMOUNT   SOLE INSTR. V OTHER  INSTR.V    SOLE SHARED    NONE
--------------               -------------- --------- ------------   --------- ---- -------- ------ --------   ---- ------    ----
                                                                                          
DOLLAR GEN CORP              COM            256669102       1,264      103,543   X                                           103,543
DOLLAR TREE STORES INC       COM            256747106         506       25,439   X                                            25,439
DOMINION RES INC VA NEW      COM            25746U109       6,144      110,958   X                                           110,958
DONALDSON INC                COM            257651109       1,627       44,480   X                                            44,480
DONNELLEY R R & SONS CO      COM            257867101         416       22,717   X                                            22,717
DORAL FINL CORP              COM            25811P100       3,788      107,145   X                                           107,145
DOUBLECLICK INC              COM            258609304         148       19,000   X                                            19,000
DOVER CORP                   COM            260003108       1,359       56,105   X                                            56,105
DOW CHEM CO                  COM            260543103      18,097      655,440   X                                           655,440
DOW JONES & CO INC           COM            260561105         654       18,466   X                                            18,466
DREYERS GRAND ICE CREAM INC  COM            261878102         288        4,157   X                                             4,157
DU PONT E I DE NEMOURS & CO  COM            263534109      19,862      511,125   X                                           511,125
DUKE ENERGY CORP             COM            264399106       5,272      362,583   X                                           362,583
DUKE REALTY CORP             COM NEW        264411505         834       30,895   X                                            30,895
DUN & BRADSTREET CORP DEL NE COM            26483E100       2,225       58,168   X                                            58,168
DYNEGY INC NEW               CL A           26816Q101         194       74,154   X                                            74,154
E M C CORP MASS              COM            268648102       6,730      930,805   X                                           930,805
ENSCO INTL INC               COM            26874Q100       2,124       83,275   X                                            83,275
ENI S P A                    SPONSORED ADR  26874R108         808       12,100   X                                            12,100
EOG RES INC                  COM            26875P101       1,826       46,159   X                                            46,159
E TRADE GROUP INC            COM            269246104         266       63,264   X                                            63,264
EASTMAN CHEM CO              COM            277432100       2,942      101,468   X                                           101,468
EASTMAN KODAK CO             COM            277461109       7,642      258,174   X                                           258,174
EATON CORP                   COM            278058102       3,812       54,500   X                                            54,500
EATON VANCE CORP             COM NON VTG    278265103         627       23,445   X                                            23,445
EBAY INC                     COM            278642103      17,077      200,174   X                                           200,174
ECHOSTAR COMMUNICATIONS NEW  CL A           278762109       2,145       74,270   X                                            74,270
ECOLAB INC                   COM            278865100       4,755       96,398   X                                            96,398
EDISON INTL                  COM            281020107       2,920      213,317   X                                           213,317
EDUCATION MGMT CORP          COM            28139T101         220        5,524   X                                             5,524
J D EDWARDS & CO             COM            281667105         534       48,376   X                                            48,376
EDWARDS LIFESCIENCES CORP    COM            28176E108         285       10,410   X                                            10,410
EDWARDS AG INC               COM            281760108       1,100       42,469   X                                            42,469
EL PASO CORP                 COM            28336L109       1,819      300,602   X                                           300,602
ELECTRONIC ARTS INC          COM            285512109       6,081      103,695   X                                           103,695
ELECTRONIC DATA SYS NEW      COM            285661104       3,839      218,129   X                                           218,129
EMERSON ELEC CO              COM            291011104      10,213      225,198   X                                           225,198
EMULEX CORP                  COM NEW        292475209         298       15,555   X                                            15,555
ENERGEN CORP                 COM            29265N108         862       26,900   X                                            26,900
ENERGY EAST CORP             COM            29266M109       1,170       65,729   X                                            65,729
ENERGIZER HLDGS INC          COM            29266R108       2,074       81,360   X                                            81,360
ENGELHARD CORP               COM            292845104       1,367       63,840   X                                            63,840
ENGINEERED SUPPORT SYS INC   COM            292866100       3,527       90,100   X                                            90,100
ENTERCOM COMMUNICATIONS CORP CL A           293639100       2,892       65,867   X                                            65,867
ENTERGY CORP NEW             COM            29364G103       8,081      167,827   X                                           167,827
EQUIFAX INC                  COM            294429105       1,641       82,081   X                                            82,081
EQUITABLE RES INC            COM            294549100       2,566       68,416   X                                            68,416
EQUITY OFFICE PROPERTIES TRU COM            294741103       8,878      348,843   X                                           348,843
EQUITY RESIDENTIAL           SH BEN INT     29476L107       2,124       88,223   X                                            88,223
ERIE INDTY CO                CL A           29530P102         479       13,202   X                                            13,202
EXELON CORP                  COM            30161N101       4,152       82,373   X                                            82,373
EXPEDIA INC                  CL A           302125109       1,923       37,222   X                                            37,222
EXPEDITORS INTL WASH INC     COM            302130109       2,274       63,268   X                                            63,268
EXPRESS SCRIPTS INC          COM            302182100       1,863       33,455   X                                            33,455



                                       6


                       VERIZON INVESTMENT MANAGEMENT CORP.
                     FORM 13F - SOLE INSTR V. NONE AUTHORITY
                                 MARCH 31, 2003



           ITEM 1:               ITEM 2:     ITEM 3:     ITEM 4:      ITEM 5:        ITEM 6:        ITEM 7:         ITEM 8:
---------------------------- -------------- --------- ------------   --------- -------------------- -------- -----------------------
                                                                                 INV. DISCRETION             VOTING AUTHORITY SHARES
                                                                                (A)   (B)     (C)               (A)  (B)       (C)
                                                      PENSION FAIR   SHARES OR      SHARED          MANAGERS
                                              CUSIP   MARKET VALUE   PRINCIPAL      AS DEF.  SHARED   SEE
NAME OF ISSUER               TITLE OF CLASS  NUMBER      ($000)       AMOUNT   SOLE INSTR. V OTHER  INSTR.V    SOLE SHARED    NONE
--------------               -------------- --------- ------------   --------- ---- -------- ------ --------   ---- ------    ----
                                                                                          
EXXON MOBIL CORP             COM            30231G102     146,079    4,179,671   X                                         4,179,671
FLIR SYS INC                 COM            302445101         303        6,400   X                                             6,400
FPL GROUP INC                COM            302571104       5,381       91,313   X                                            91,313
FAIR ISAAC & CO INC          COM            303250104         531       10,447   X                                            10,447
FAIRCHILD SEMICONDUCTOR INTL CL A           303726103         767       73,340   X                                            73,340
FAMILY DLR STORES INC        COM            307000109       3,285      106,393   X                                           106,393
FASTENAL CO                  COM            311900104         808       28,651   X                                            28,651
FEDERAL HOME LN MTG CORP     COM            313400301      27,061      509,631   X                                           509,631
FEDERAL NATL MTG ASSN        COM            313586109      51,844      793,328   X                                           793,328
FEDERATED DEPT STORES INC DE COM            31410H101       2,055       73,346   X                                            73,346
FEDERATED INVS INC PA        CL B           314211103       1,034       40,641   X                                            40,641
FEDEX CORP                   COM            31428X106       9,277      168,461   X                                           168,461
FERRO CORP                   COM            315405100         859       40,200   X                                            40,200
FIDELITY NATL FINL INC       COM            316326107         764       22,384   X                                            22,384
FIFTH THIRD BANCORP          COM            316773100      13,299      264,756   X                                           264,756
FIRST AMERN CORP CALIF       COM            318522307         457       18,710   X                                            18,710
FIRST DATA CORP              COM            319963104      24,085      650,777   X                                           650,777
FIRST INDUSTRIAL REALTY TRUS COM            32054K103         423       14,953   X                                            14,953
FIRST HEALTH GROUP CORP      COM            320960107         576       22,650   X                                            22,650
FIRST TENN NATL CORP         COM            337162101      10,168      256,047   X                                           256,047
FISERV INC                   COM            337738108       3,577      113,640   X                                           113,640
FLAGSTAR BANCORP INC         COM            337930101         630       23,900   X                                            23,900
FIRSTENERGY CORP             COM            337932107       6,889      218,705   X                                           218,705
FISHER SCIENTIFIC INTL INC   COM NEW        338032204         341       12,193   X                                            12,193
FLEETBOSTON FINL CORP        COM            339030108      15,838      663,216   X                                           663,216
FLUOR CORP NEW               COM            343412102         569       16,881   X                                            16,881
FLOWSERVE CORP               COM            34354P105         132       11,304   X                                            11,304
FOOT LOCKER INC              COM            344849104         185       17,287   X                                            17,287
FORD MTR CO DEL              COM PAR $0.01  345370860       4,977      661,900   X                                           661,900
FOREST LABS INC              COM            345838106      19,621      363,562   X                                           363,562
FORTUNE BRANDS INC           COM            349631101       6,133      143,064   X                                           143,064
FOX ENTMT GROUP INC          CL A           35138T107       5,141      192,775   X                                           192,775
FRANKLIN RES INC             COM            354613101       1,810       54,998   X                                            54,998
FREEPORT-MCMORAN COPPER & GO CL B           35671D857         959       56,226   X                                            56,226
GALLAGHER ARTHUR J & CO      COM            363576109       1,428       58,159   X                                            58,159
GALLAHER GROUP PLC           SPONSORED ADR  363595109       1,050       27,400   X                                            27,400
GANNETT INC                  COM            364730101      14,406      204,548   X                                           204,548
GAP INC DEL                  COM            364760108       4,679      322,946   X                                           322,946
GATEWAY INC                  COM            367626108         119       50,406   X                                            50,406
GEMSTAR-TV GUIDE INTL INC    COM            36866W106         118       32,137   X                                            32,137
GENENTECH INC                COM NEW        368710406       1,612       46,041   X                                            46,041
GENERAL DYNAMICS CORP        COM            369550108       4,831       87,720   X                                            87,720
GENERAL ELEC CO              COM            369604103     179,836    7,052,400   X                                         7,052,400
GENERAL GROWTH PPTYS INC     COM            370021107       2,230       41,343   X                                            41,343
GENERAL MLS INC              COM            370334104       6,113      134,210   X                                           134,210
GENERAL MTRS CORP            COM            370442105      17,367      516,574   X                                           516,574
GENERAL MTRS CORP            CL H NEW       370442832       1,569      140,111   X                                           140,111
GENTEX CORP                  COM            371901109         431       16,928   X                                            16,928
GENUINE PARTS CO             COM            372460105       2,988       97,944   X                                            97,944
GENZYME CORP                 COM GENL DIV   372917104       2,385       65,425   X                                            65,425
GEORGIA PAC CORP             COM            373298108       2,250      161,864   X                                           161,864
GILEAD SCIENCES INC          COM            375558103       6,016      143,283   X                                           143,283
GILLETTE CO                  COM            375766102      10,676      345,057   X                                           345,057
GLOBAL PMTS INC              COM            37940X102         240        7,863   X                                             7,863



                                       7


                       VERIZON INVESTMENT MANAGEMENT CORP.
                     FORM 13F - SOLE INSTR V. NONE AUTHORITY
                                 MARCH 31, 2003



           ITEM 1:               ITEM 2:     ITEM 3:     ITEM 4:      ITEM 5:        ITEM 6:        ITEM 7:         ITEM 8:
---------------------------- -------------- --------- ------------   --------- -------------------- -------- -----------------------
                                                                                 INV. DISCRETION             VOTING AUTHORITY SHARES
                                                                                (A)   (B)     (C)               (A)  (B)       (C)
                                                      PENSION FAIR   SHARES OR      SHARED          MANAGERS
                                              CUSIP   MARKET VALUE   PRINCIPAL      AS DEF.  SHARED   SEE
NAME OF ISSUER               TITLE OF CLASS  NUMBER      ($000)       AMOUNT   SOLE INSTR. V OTHER  INSTR.V    SOLE SHARED    NONE
--------------               -------------- --------- ------------   --------- ---- -------- ------ --------   ---- ------    ----
                                                                                          
GOLDEN WEST FINL CORP DEL    COM            381317106       9,827      136,623   X                                           136,623
GOLDMAN SACHS GROUP INC      COM            38141G104      15,897      233,501   X                                           233,501
GOODRICH CORP                COM            382388106         317       22,557   X                                            22,557
GOODYEAR TIRE & RUBR CO      COM            382550101         152       29,334   X                                            29,334
GRACO INC                    COM            384109104         836       29,735   X                                            29,735
GRAINGER W W INC             COM            384802104       1,892       44,111   X                                            44,111
GRANT PRIDECO INC            COM            38821G101         324       26,896   X                                            26,896
GREAT LAKES CHEM CORP        COM            390568103       2,232      100,520   X                                           100,520
GREAT PLAINS ENERGY INC      COM            391164100       2,073       86,828   X                                            86,828
GREATER BAY BANCORP          COM            391648102         263       18,325   X                                            18,325
GREENPOINT FINL CORP         COM            395384100       2,538       56,645   X                                            56,645
GTECH HLDGS CORP             COM            400518106         568       17,389   X                                            17,389
GUIDANT CORP                 COM            401698105       7,535      208,162   X                                           208,162
HCA INC                      COM            404119109      14,746      356,539   X                                           356,539
HSBC HLDGS PLC               SPON ADR NEW   404280406       3,228       63,152   X                                            63,152
HALLIBURTON CO               COM            406216101       5,274      254,397   X                                           254,397
HANCOCK JOHN FINL SVCS INC   COM            41014S106       1,501       54,048   X                                            54,048
HARLEY DAVIDSON INC          COM            412822108       7,795      196,304   X                                           196,304
HARMAN INTL INDS INC         COM            413086109       2,842       48,517   X                                            48,517
HARRAHS ENTMT INC            COM            413619107       3,276       91,769   X                                            91,769
HARRIS CORP DEL              COM            413875105         678       24,421   X                                            24,421
HARTE-HANKS INC              COM            416196103         927       48,554   X                                            48,554
HARTFORD FINL SVCS GROUP INC COM            416515104       2,784       78,895   X                                            78,895
HASBRO INC                   COM            418056107         413       29,745   X                                            29,745
HAWAIIAN ELEC INDUSTRIES     COM            419870100       2,825       69,306   X                                            69,306
HEALTH CARE PPTY INVS INC    COM            421915109         905       27,141   X                                            27,141
HEALTHSOUTH CORP             COM            421924101           5       76,658   X                                            76,658
HEALTH MGMT ASSOC INC NEW    CL A           421933102       1,585       83,415   X                                            83,415
HEALTH NET INC               COM            42222G108       1,921       71,743   X                                            71,743
HEINZ H J CO                 COM            423074103       2,683       91,881   X                                            91,881
HELMERICH & PAYNE INC        COM            423452101       1,112       43,395   X                                            43,395
HENRY JACK & ASSOC INC       COM            426281101         161       15,219   X                                            15,219
HERCULES INC                 COM            427056106         366       42,070   X                                            42,070
HERSHEY FOODS CORP           COM            427866108       3,531       56,347   X                                            56,347
HEWLETT PACKARD CO           COM            428236103      23,348    1,501,508   X                                         1,501,508
HIBERNIA CORP                CL A           428656102         970       57,169   X                                            57,169
HILLENBRAND INDS INC         COM            431573104       1,218       23,900   X                                            23,900
HILTON HOTELS CORP           COM            432848109       1,238      106,666   X                                           106,666
HISPANIC BROADCASTING CORP   CL A           43357B104         205        9,901   X                                             9,901
HOLLY CORP                   COM PAR $0.01  435758305         919       32,100   X                                            32,100
HOME DEPOT INC               COM            437076102      36,961    1,517,291   X                                         1,517,291
HON INDS INC                 COM            438092108         400       14,043   X                                            14,043
HONEYWELL INTL INC           COM            438516106       7,591      355,389   X                                           355,389
HORMEL FOODS CORP            COM            440452100       1,154       54,506   X                                            54,506
HOST MARRIOTT CORP NEW       COM            44107P104         100       14,495   X                                            14,495
HOTELS COM                   COM            44147T108         688       11,921   X                                            11,921
HUBBELL INC                  CL B           443510201       1,140       36,433   X                                            36,433
HUDSON CITY BANCORP          COM            443683107       1,655       81,793   X                                            81,793
HUDSON UNITED BANCORP        COM            444165104       1,440       46,769   X                                            46,769
HUMANA INC                   COM            444859102         298       30,995   X                                            30,995
HUMAN GENOME SCIENCES INC    COM            444903108         305       35,624   X                                            35,624
HUNTINGTON BANCSHARES INC    COM            446150104         838       45,063   X                                            45,063
IDEC PHARMACEUTICALS CORP    COM            449370105       2,515       73,488   X                                            73,488
IMS HEALTH INC               COM            449934108       1,389       89,013   X                                            89,013



                                       8


                       VERIZON INVESTMENT MANAGEMENT CORP.
                     FORM 13F - SOLE INSTR V. NONE AUTHORITY
                                 MARCH 31, 2003



           ITEM 1:               ITEM 2:     ITEM 3:     ITEM 4:      ITEM 5:        ITEM 6:        ITEM 7:         ITEM 8:
---------------------------- -------------- --------- ------------   --------- -------------------- -------- -----------------------
                                                                                 INV. DISCRETION             VOTING AUTHORITY SHARES
                                                                                (A)   (B)     (C)               (A)  (B)       (C)
                                                      PENSION FAIR   SHARES OR      SHARED          MANAGERS
                                              CUSIP   MARKET VALUE   PRINCIPAL      AS DEF.  SHARED   SEE
NAME OF ISSUER               TITLE OF CLASS  NUMBER      ($000)       AMOUNT   SOLE INSTR. V OTHER  INSTR.V    SOLE SHARED    NONE
--------------               -------------- --------- ------------   --------- ---- -------- ------ --------   ---- ------    ----
                                                                                          
ITT INDS INC IND             COM            450911102       8,329      155,954   X                                           155,954
IKON OFFICE SOLUTIONS INC    COM            451713101         308       43,384   X                                            43,384
ILLINOIS TOOL WKS INC        COM            452308109       6,482      111,470   X                                           111,470
IMATION CORP                 COM            45245A107         517       13,900   X                                            13,900
INCO LTD                     COM            453258402         335       18,000   X                                            18,000
INDEPENDENCE CMNTY BK CORP   COM            453414104       1,103       41,709   X                                            41,709
INGRAM MICRO INC             CL A           457153104         409       37,102   X                                            37,102
INTEGRATED CIRCUIT SYS INC   COM            45811K208       1,087       50,106   X                                            50,106
INTEGRATED DEVICE TECHNOLOGY COM            458118106         225       28,340   X                                            28,340
INTEL CORP                   COM            458140100      85,152    5,230,475   X                                         5,230,475
INTER TEL INC                COM            458372109         150       10,000   X                                            10,000
INTERACTIVE DATA CORP        COM            45840J107         801       57,206   X                                            57,206
INTERNATIONAL BUSINESS MACHS COM            459200101      97,475    1,242,827   X                                         1,242,827
INTERNATIONAL FLAVORS&FRAGRA COM            459506101       1,761       56,648   X                                            56,648
INTERNATIONAL GAME TECHNOLOG COM            459902102       5,785       70,629   X                                            70,629
INTL PAPER CO                COM            460146103       8,703      257,488   X                                           257,488
INTERNATIONAL RECTIFIER CORP COM            460254105         831       42,251   X                                            42,251
INTERSIL CORP                CL A           46069S109         732       47,075   X                                            47,075
INTERPUBLIC GROUP COS INC    COM            460690100       1,226      131,818   X                                           131,818
INTUIT                       COM            461202103       4,170      112,109   X                                           112,109
INVESTMENT TECHNOLOGY GRP NE COM            46145F105         218       15,616   X                                            15,616
INVITROGEN CORP              COM            46185R100         215        7,011   X                                             7,011
INVESTORS FINL SERVICES CORP COM            461915100         350       14,391   X                                            14,391
IOMEGA CORP                  COM NEW        462030305         706       63,600   X                                            63,600
IRON MTN INC PA              COM            462846106         757       19,780   X                                            19,780
I2 TECHNOLOGIES INC          COM            465754109          34       42,624   X                                            42,624
IVAX CORP                    COM            465823102         716       58,461   X                                            58,461
JDS UNIPHASE CORP            COM            46612J101       1,896      665,281   X                                           665,281
J P MORGAN CHASE & CO        COM            46625H100      22,490      948,526   X                                           948,526
JABIL CIRCUIT INC            COM            466313103       1,558       89,026   X                                            89,026
JACOBS ENGR GROUP INC DEL    COM            469814107       3,203       76,246   X                                            76,246
JANUS CAP GROUP INC          COM            47102X105       1,313      115,314   X                                           115,314
JEFFERSON PILOT CORP         COM            475070108       1,063       27,618   X                                            27,618
JETBLUE AWYS CORP            COM            477143101         840       30,310   X                                            30,310
JOHNSON & JOHNSON            COM            478160104     142,646    2,464,946   X                                         2,464,946
JOHNSON CTLS INC             COM            478366107      13,232      182,661   X                                           182,661
JONES APPAREL GROUP INC      COM            480074103       7,461      271,999   X                                           271,999
JUNIPER NETWORKS INC         COM            48203R104         564       68,984   X                                            68,984
KLA-TENCOR CORP              COM            482480100       4,956      137,900   X                                           137,900
KB HOME                      COM            48666K109       1,530       33,663   X                                            33,663
KELLOGG CO                   COM            487836108       3,563      116,238   X                                           116,238
KERR MCGEE CORP              COM            492386107         747       18,386   X                                            18,386
KEYCORP NEW                  COM            493267108       7,565      335,314   X                                           335,314
KEYSPAN CORP                 COM            49337W100       1,685       52,253   X                                            52,253
KIMBERLY CLARK CORP          COM            494368103       6,928      152,408   X                                           152,408
KIMCO REALTY CORP            COM            49446R109       1,006       28,644   X                                            28,644
KINDER MORGAN INC KANS       COM            49455P101       2,638       58,633   X                                            58,633
KING PHARMACEUTICALS INC     COM            495582108       1,095       91,781   X                                            91,781
KNIGHT RIDDER INC            COM            499040103       5,774       98,697   X                                            98,697
KOHLS CORP                   COM            500255104      15,797      279,194   X                                           279,194
KRAFT FOODS INC              CL A           50075N104       6,541      231,963   X                                           231,963
KRISPY KREME DOUGHNUTS INC   COM            501014104         315        9,291   X                                             9,291
KROGER CO                    COM            501044101       5,075      385,895   X                                           385,895
KRONOS INC                   COM            501052104         669       19,100   X                                            19,100



                                       9


                       VERIZON INVESTMENT MANAGEMENT CORP.
                     FORM 13F - SOLE INSTR V. NONE AUTHORITY
                                 MARCH 31, 2003



           ITEM 1:               ITEM 2:     ITEM 3:     ITEM 4:      ITEM 5:        ITEM 6:        ITEM 7:         ITEM 8:
---------------------------- -------------- --------- ------------   --------- -------------------- -------- -----------------------
                                                                                 INV. DISCRETION             VOTING AUTHORITY SHARES
                                                                                (A)   (B)     (C)               (A)  (B)       (C)
                                                      PENSION FAIR   SHARES OR      SHARED          MANAGERS
                                              CUSIP   MARKET VALUE   PRINCIPAL      AS DEF.  SHARED   SEE
NAME OF ISSUER               TITLE OF CLASS  NUMBER      ($000)       AMOUNT   SOLE INSTR. V OTHER  INSTR.V    SOLE SHARED    NONE
--------------               -------------- --------- ------------   --------- ---- -------- ------ --------   ---- ------    ----
                                                                                          
LNR PPTY CORP                COM            501940100         930       27,600   X                                            27,600
LSI LOGIC CORP               COM            502161102         443       97,986   X                                            97,986
L-3 COMMUNICATIONS HLDGS INC COM            502424104       3,455       86,006   X                                            86,006
LABORATORY CORP AMER HLDGS   COM NEW        50540R409       1,080       36,432   X                                            36,432
LAM RESEARCH CORP            COM            512807108         736       64,633   X                                            64,633
LAMAR ADVERTISING CO         CL A           512815101         733       24,983   X                                            24,983
LANCASTER COLONY CORP        COM            513847103       1,496       39,022   X                                            39,022
LANDAMERICA FINL GROUP INC   COM            514936103         938       23,600   X                                            23,600
LAUDER ESTEE COS INC         CL A           518439104         572       18,848   X                                            18,848
LEAR CORP                    COM            521865105       2,104       59,532   X                                            59,532
LEGGETT & PLATT INC          COM            524660107         842       46,065   X                                            46,065
LEGG MASON INC               COM            524901105       5,264      108,005   X                                           108,005
LEHMAN BROS HLDGS INC        COM            524908100      13,293      230,189   X                                           230,189
LENNAR CORP                  COM            526057104         204        3,806   X                                             3,806
LEUCADIA NATL CORP           COM            527288104       2,009       56,198   X                                            56,198
LEVEL 3 COMMUNICATIONS INC   COM            52729N100         471       91,269   X                                            91,269
LEXMARK INTL NEW             CL A           529771107       8,881      132,655   X                                           132,655
LIBERTY CORP S C             COM            530370105         401        9,200   X                                             9,200
LIBERTY MEDIA CORP NEW       COM SER A      530718105       8,384      861,703   X                                           861,703
LIFEPOINT HOSPITALS INC      COM            53219L109         221        8,801   X                                             8,801
LILLY ELI & CO               COM            532457108      34,652      606,334   X                                           606,334
LIMITED BRANDS INC           COM            532716107       1,665      129,358   X                                           129,358
LINCARE HLDGS INC            COM            532791100       1,559       50,797   X                                            50,797
LINCOLN NATL CORP IND        COM            534187109       1,140       40,708   X                                            40,708
LINEAR TECHNOLOGY CORP       COM            535678106       7,796      252,549   X                                           252,549
LIZ CLAIBORNE INC            COM            539320101       2,364       76,452   X                                            76,452
LOCKHEED MARTIN CORP         COM            539830109      13,557      285,113   X                                           285,113
LOEWS CORP                   COM            540424108       4,981      125,035   X                                           125,035
LOUISIANA PAC CORP           COM            546347105         101       12,738   X                                            12,738
LOWES COS INC                COM            548661107      25,382      621,804   X                                           621,804
LUCENT TECHNOLOGIES INC      COM            549463107       3,029    2,060,351   X                                         2,060,351
LYONDELL CHEMICAL CO         COM            552078107         664       47,574   X                                            47,574
M & T BK CORP                COM            55261F104       3,793       48,270   X                                            48,270
MBIA INC                     COM            55262C100       1,602       41,470   X                                            41,470
MBNA CORP                    COM            55262L100      10,900      724,271   X                                           724,271
MGIC INVT CORP WIS           COM            552848103       1,653       42,087   X                                            42,087
MTS SYS CORP                 COM            553777103         120       11,100   X                                            11,100
MACK CALI RLTY CORP          COM            554489104       1,575       50,863   X                                            50,863
MACROMEDIA INC               COM            556100105         143       11,841   X                                            11,841
MANDALAY RESORT GROUP        COM            562567107         508       18,439   X                                            18,439
MANOR CARE INC NEW           COM            564055101         607       31,585   X                                            31,585
MANPOWER INC                 COM            56418H100         726       24,302   X                                            24,302
MARATHON OIL CORP            COM            565849106       5,358      223,529   X                                           223,529
MARSH & MCLENNAN COS INC     COM            571748102      11,693      274,292   X                                           274,292
MARSHALL & ILSLEY CORP       COM            571834100       1,088       42,568   X                                            42,568
MARRIOTT INTL INC NEW        CL A           571903202       2,339       73,534   X                                            73,534
MASCO CORP                   COM            574599106       2,814      151,109   X                                           151,109
MATTEL INC                   COM            577081102       7,498      333,240   X                                           333,240
MAXIM INTEGRATED PRODS INC   COM            57772K101      11,267      311,945   X                                           311,945
MAY DEPT STORES CO           COM            577778103       1,048       52,670   X                                            52,670
MAYTAG CORP                  COM            578592107         511       26,829   X                                            26,829
MCCLATCHY CO                 CL A           579489105         703       13,120   X                                            13,120
MCCORMICK & CO INC           COM NON VTG    579780206       1,326       54,918   X                                            54,918
MCDONALDS CORP               COM            580135101       5,955      411,846   X                                           411,846



                                       10


                       VERIZON INVESTMENT MANAGEMENT CORP.
                     FORM 13F - SOLE INSTR V. NONE AUTHORITY
                                 MARCH 31, 2003



           ITEM 1:               ITEM 2:     ITEM 3:     ITEM 4:      ITEM 5:        ITEM 6:        ITEM 7:         ITEM 8:
---------------------------- -------------- --------- ------------   --------- -------------------- -------- -----------------------
                                                                                 INV. DISCRETION             VOTING AUTHORITY SHARES
                                                                                (A)   (B)     (C)               (A)  (B)       (C)
                                                      PENSION FAIR   SHARES OR      SHARED          MANAGERS
                                              CUSIP   MARKET VALUE   PRINCIPAL      AS DEF.  SHARED   SEE
NAME OF ISSUER               TITLE OF CLASS  NUMBER      ($000)       AMOUNT   SOLE INSTR. V OTHER  INSTR.V    SOLE SHARED    NONE
--------------               -------------- --------- ------------   --------- ---- -------- ------ --------   ---- ------    ----
                                                                                          
MCGRAW HILL COS INC          COM            580645109       3,998       71,920   X                                            71,920
MCKESSON CORP                COM            58155Q103       2,729      109,465   X                                           109,465
MEADWESTVACO CORP            COM            583334107       2,694      118,283   X                                           118,283
MEDIA GEN INC                CL A           584404107         969       19,673   X                                            19,673
MEDICIS PHARMACEUTICAL CORP  CL A NEW       584690309         285        5,118   X                                             5,118
MEDIMMUNE INC                COM            584699102       3,697      112,598   X                                           112,598
MEDTRONIC INC                COM            585055106      28,639      634,722   X                                           634,722
MELLON FINL CORP             COM            58551A108       2,715      127,718   X                                           127,718
MERCK & CO INC               COM            589331107      91,947    1,678,475   X                                         1,678,475
MERCURY INTERACTIVE CORP     COM            589405109       1,088       36,651   X                                            36,651
MEREDITH CORP                COM            589433101         434       11,365   X                                            11,365
MERRILL LYNCH & CO INC       COM            590188108      18,908      534,135   X                                           534,135
METLIFE INC                  COM            59156R108       4,808      182,263   X                                           182,263
METRO GOLDWYN MAYER INC      COM            591610100         269       25,620   X                                            25,620
METTLER TOLEDO INTERNATIONAL COM            592688105         237        7,952   X                                             7,952
MICHAELS STORES INC          COM            594087108         371       14,835   X                                            14,835
MICREL INC                   COM            594793101         129       14,010   X                                            14,010
MICROSOFT CORP               COM            594918104     180,456    7,453,760   X                                         7,453,760
MICROCHIP TECHNOLOGY INC     COM            595017104       3,544      178,098   X                                           178,098
MICRON TECHNOLOGY INC        COM            595112103       1,237      152,009   X                                           152,009
MID ATLANTIC MED SVCS INC    COM            59523C107         744       18,360   X                                            18,360
MILLENNIUM PHARMACEUTICALS I COM            599902103         341       43,384   X                                            43,384
MILLER HERMAN INC            COM            600544100         274       17,038   X                                            17,038
MILLIPORE CORP               COM            601073109         544       16,638   X                                            16,638
MIRANT CORP                  COM            604675108         135       84,226   X                                            84,226
MODINE MFG CO                COM            607828100         238       15,900   X                                            15,900
MOHAWK INDS INC              COM            608190104         551       11,497   X                                            11,497
MOLEX INC                    COM            608554101       1,071       49,867   X                                            49,867
MONSANTO CO NEW              COM            61166W101       3,564      217,300   X                                           217,300
MOODYS CORP                  COM            615369105       3,731       80,699   X                                            80,699
MOOG INC                     CL A           615394202         389       12,700   X                                            12,700
MORGAN STANLEY               COM NEW        617446448      23,516      613,191   X                                           613,191
MOTOROLA INC                 COM            620076109      11,610    1,405,532   X                                         1,405,532
MURPHY OIL CORP              COM            626717102       4,457      100,900   X                                           100,900
MYLAN LABS INC               COM            628530107       6,323      219,945   X                                           219,945
NCR CORP NEW                 COM            62886E108       1,018       55,505   X                                            55,505
NVR INC                      COM            62944T105       4,177       12,695   X                                            12,695
NATIONAL CITY CORP           COM            635405103      14,909      535,329   X                                           535,329
NATIONAL COMMERCE FINL CORP  COM            63545P104         302       12,740   X                                            12,740
NATIONAL GRID TRANSCO PLC    SPONSORED ADR  636274102         428       13,915   X                                            13,915
NATIONAL HEALTH INVS INC     COM            63633D104         405       26,400   X                                            26,400
NATIONAL INSTRS CORP         COM            636518102         230        6,529   X                                             6,529
NATIONAL-OILWELL INC         COM            637071101         297       13,270   X                                            13,270
NATIONAL SEMICONDUCTOR CORP  COM            637640103       1,033       60,638   X                                            60,638
NATIONWIDE HEALTH PPTYS INC  COM            638620104         242       18,800   X                                            18,800
NAVISTAR INTL CORP NEW       COM            63934E108         866       35,204   X                                            35,204
NETWORKS ASSOCS INC          COM            640938106         827       59,874   X                                            59,874
NETWORK APPLIANCE INC        COM            64120L104       1,468      131,193   X                                           131,193
NEUBERGER BERMAN INC         COM            641234109         482       17,088   X                                            17,088
NEW CENTURY FINANCIAL CORP   COM            64352D101         736       23,600   X                                            23,600
NEW YORK CMNTY BANCORP INC   COM            649445103         369       12,371   X                                            12,371
NEW YORK TIMES CO            CL A           650111107       1,805       41,826   X                                            41,826
NEWELL RUBBERMAID INC        COM            651229106       2,364       83,384   X                                            83,384
NEWFIELD EXPL CO             COM            651290108         381       11,230   X                                            11,230



                                       11


                       VERIZON INVESTMENT MANAGEMENT CORP.
                     FORM 13F - SOLE INSTR V. NONE AUTHORITY
                                 MARCH 31, 2003



           ITEM 1:               ITEM 2:     ITEM 3:     ITEM 4:      ITEM 5:        ITEM 6:        ITEM 7:         ITEM 8:
---------------------------- -------------- --------- ------------   --------- -------------------- -------- -----------------------
                                                                                 INV. DISCRETION             VOTING AUTHORITY SHARES
                                                                                (A)   (B)     (C)               (A)  (B)       (C)
                                                      PENSION FAIR   SHARES OR      SHARED          MANAGERS
                                              CUSIP   MARKET VALUE   PRINCIPAL      AS DEF.  SHARED   SEE
NAME OF ISSUER               TITLE OF CLASS  NUMBER      ($000)       AMOUNT   SOLE INSTR. V OTHER  INSTR.V    SOLE SHARED    NONE
--------------               -------------- --------- ------------   --------- ---- -------- ------ --------   ---- ------    ----
                                                                                          
NEWMONT MINING CORP          COM            651639106       5,300      202,691   X                                           202,691
NEXTEL COMMUNICATIONS INC    CL A           65332V103       6,531      487,780   X                                           487,780
NICOR INC                    COM            654086107         225        8,220   X                                             8,220
NIKE INC                     CL B           654106103       2,970       57,759   X                                            57,759
99 CENTS ONLY STORES         COM            65440K106       1,339       52,505   X                                            52,505
NISOURCE INC                 COM            65473P105       1,390       76,373   X                                            76,373
NOKIA CORP                   SPONSORED ADR  654902204       4,429      316,100   X                                           316,100
NOBLE ENERGY INC             COM            655044105       1,466       42,746   X                                            42,746
NORDSTROM INC                COM            655664100         360       22,216   X                                            22,216
NORFOLK SOUTHERN CORP        COM            655844108       2,764      148,910   X                                           148,910
NORTEL NETWORKS CORP NEW     COM            656568102       1,937      931,028   X                                           931,028
NORTH FORK BANCORPORATION NY COM            659424105       2,547       86,481   X                                            86,481
NORTHERN TR CORP             COM            665859104       1,668       54,780   X                                            54,780
NORTHROP GRUMMAN CORP        COM            666807102      11,489      133,906   X                                           133,906
NOVELL INC                   COM            670006105          95       44,164   X                                            44,164
NOVELLUS SYS INC             COM            670008101       1,331       48,810   X                                            48,810
NUCOR CORP                   COM            670346105       1,351       35,396   X                                            35,396
NVIDIA CORP                  COM            67066G104         767       59,544   X                                            59,544
NUVEEN INVTS INC             CL A           67090F106       2,644      118,305   X                                           118,305
OCCIDENTAL PETE CORP DEL     COM            674599105      11,621      387,880   X                                           387,880
OCEAN ENERGY INC DEL         COM            67481E106         870       43,501   X                                            43,501
OFFICE DEPOT INC             COM            676220106       1,394      117,841   X                                           117,841
OMNICARE INC                 COM            681904108         340       12,512   X                                            12,512
OMNICOM GROUP INC            COM            681919106       6,772      125,019   X                                           125,019
OMNOVA SOLUTIONS INC         COM            682129101          55       18,800   X                                            18,800
ORACLE CORP                  COM            68389X105      35,213    3,245,735   X                                         3,245,735
O REILLY AUTOMOTIVE INC      COM            686091109         218        8,035   X                                             8,035
OUTBACK STEAKHOUSE INC       COM            689899102         309        8,726   X                                             8,726
OWENS ILL INC                COM NEW        690768403         306       33,883   X                                            33,883
OXFORD HEALTH PLANS INC      COM            691471106       1,668       54,925   X                                            54,925
PG&E CORP                    COM            69331C108       2,923      217,316   X                                           217,316
PMC-SIERRA INC               COM            69344F106         342       57,505   X                                            57,505
PMI GROUP INC                COM            69344M101       2,089       81,749   X                                            81,749
PNC FINL SVCS GROUP INC      COM            693475105       3,924       92,602   X                                            92,602
PPG INDS INC                 COM            693506107       2,544       56,428   X                                            56,428
PPL CORP                     COM            69351T106       2,658       74,632   X                                            74,632
PACCAR INC                   COM            693718108       4,835       96,176   X                                            96,176
PACTIV CORP                  COM            695257105       1,315       64,790   X                                            64,790
PALL CORP                    COM            696429307         458       22,911   X                                            22,911
PARAMETRIC TECHNOLOGY CORP   COM            699173100          69       31,677   X                                            31,677
PARK PL ENTMT CORP           COM            700690100         119       16,773   X                                            16,773
PARKER HANNIFIN CORP         COM            701094104         836       21,583   X                                            21,583
PATINA OIL & GAS CORP        COM            703224105         253        7,700   X                                             7,700
PATTERSON DENTAL CO          COM            703412106       1,438       31,302   X                                            31,302
PATTERSON UTI ENERGY INC     COM            703481101       1,039       32,163   X                                            32,163
PAYCHEX INC                  COM            704326107       5,411      196,995   X                                           196,995
PEABODY ENERGY CORP          COM            704549104         362       12,983   X                                            12,983
PENNEY J C INC               COM            708160106       2,829      144,027   X                                           144,027
PENTAIR INC                  COM            709631105         345        9,751   X                                             9,751
PEOPLES ENERGY CORP          COM            711030106         232        6,480   X                                             6,480
PEOPLESOFT INC               COM            712713106       1,881      122,947   X                                           122,947
PEPSI BOTTLING GROUP INC     COM            713409100       3,552      198,108   X                                           198,108
PEPSIAMERICAS INC            COM            71343P200         740       62,921   X                                            62,921
PEPSICO INC                  COM            713448108      50,250    1,256,243   X                                         1,256,243



                                       12


                       VERIZON INVESTMENT MANAGEMENT CORP.
                     FORM 13F - SOLE INSTR V. NONE AUTHORITY
                                 MARCH 31, 2003



           ITEM 1:               ITEM 2:     ITEM 3:     ITEM 4:      ITEM 5:        ITEM 6:        ITEM 7:         ITEM 8:
---------------------------- -------------- --------- ------------   --------- -------------------- -------- -----------------------
                                                                                 INV. DISCRETION             VOTING AUTHORITY SHARES
                                                                                (A)   (B)     (C)               (A)  (B)       (C)
                                                      PENSION FAIR   SHARES OR      SHARED          MANAGERS
                                              CUSIP   MARKET VALUE   PRINCIPAL      AS DEF.  SHARED   SEE
NAME OF ISSUER               TITLE OF CLASS  NUMBER      ($000)       AMOUNT   SOLE INSTR. V OTHER  INSTR.V    SOLE SHARED    NONE
--------------               -------------- --------- ------------   --------- ---- -------- ------ --------   ---- ------    ----
                                                                                          
PERFORMANCE FOOD GROUP CO    COM            713755106       1,118       36,457   X                                            36,457
PERKINELMER INC              COM            714046109         263       29,544   X                                            29,544
PEROT SYS CORP               CL A           714265105         153       14,872   X                                            14,872
PETSMART INC                 COM            716768106         685       54,346   X                                            54,346
PFIZER INC                   COM            717081103     133,111    4,271,850   X                                         4,271,850
PHARMACEUTICAL PROD DEV INC  COM            717124101         634       23,618   X                                            23,618
PHARMACIA CORP               COM            71713U102      44,835    1,035,442   X                                         1,035,442
PHELPS DODGE CORP            COM            717265102         518       15,956   X                                            15,956
PIER 1 IMPORTS INC           COM            720279108         172       10,852   X                                            10,852
PINNACLE SYS INC             COM            723481107         659       63,300   X                                            63,300
PINNACLE WEST CAP CORP       COM            723484101       7,382      222,081   X                                           222,081
PIONEER NAT RES CO           COM            723787107         437       17,415   X                                            17,415
PITNEY BOWES INC             COM            724479100       2,163       67,769   X                                            67,769
PITTSTON CO                  COM BRINKS GRP 725701106         257       18,561   X                                            18,561
PIXAR                        COM            725811103       3,811       70,446   X                                            70,446
PLANTRONICS INC NEW          COM            727493108         263       18,000   X                                            18,000
PLUM CREEK TIMBER CO INC     COM            729251108         844       39,075   X                                            39,075
POGO PRODUCING CO            COM            730448107       2,692       67,684   X                                            67,684
POLARIS INDS INC             COM            731068102         581       11,680   X                                            11,680
POLYCOM INC                  COM            73172K104         149       18,447   X                                            18,447
POPULAR INC                  COM            733174106       1,639       48,234   X                                            48,234
PRAXAIR INC                  COM            74005P104       7,032      124,783   X                                           124,783
PRICE T ROWE GROUP INC       COM            74144T108       1,757       64,797   X                                            64,797
PRIDE INTL INC DEL           COM            74153Q102         213       15,805   X                                            15,805
PRINCIPAL FINANCIAL GROUP IN COM            74251V102       3,476      128,074   X                                           128,074
PROCTER & GAMBLE CO          COM            742718109      89,711    1,007,423   X                                         1,007,423
PROGRESS ENERGY INC          COM            743263105       4,457      113,840   X                                           113,840
PROGRESSIVE CORP OHIO        COM            743315103      10,235      172,571   X                                           172,571
PROLOGIS                     SH BEN INT     743410102         833       32,896   X                                            32,896
PROTECTIVE LIFE CORP         COM            743674103         886       31,039   X                                            31,039
PROVIDIAN FINL CORP          COM            74406A102         765      116,589   X                                           116,589
PRUDENTIAL FINL INC          COM            744320102       8,331      284,820   X                                           284,820
PUBLIC SVC ENTERPRISE GROUP  COM            744573106       2,642       72,005   X                                            72,005
PUBLIC STORAGE INC           COM            74460D109         209        6,908   X                                             6,908
PUGET ENERGY INC NEW         COM            745310102         498       23,379   X                                            23,379
PULTE HOMES INC              COM            745867101       1,915       38,176   X                                            38,176
QLOGIC CORP                  COM            747277101       2,670       71,877   X                                            71,877
QUALCOMM INC                 COM            747525103      21,587      599,632   X                                           599,632
QUEST DIAGNOSTICS INC        COM            74834L100       3,743       62,714   X                                            62,714
QUESTAR CORP                 COM            748356102       1,426       48,229   X                                            48,229
QUINTILES TRANSNATIONAL CORP COM            748767100         384       31,574   X                                            31,574
QWEST COMMUNICATIONS INTL IN COM            749121109       1,390      398,419   X                                           398,419
RPM INTL INC                 COM            749685103         498       47,390   X                                            47,390
RF MICRODEVICES INC          COM            749941100         211       35,115   X                                            35,115
RADIAN GROUP INC             COM            750236101       3,636      108,932   X                                           108,932
RADIO ONE INC                CL D NON VTG   75040P405         143       10,790   X                                            10,790
RADIOSHACK CORP              COM            750438103       1,340       60,124   X                                            60,124
RAYTHEON CO                  COM NEW        755111507       8,136      286,770   X                                           286,770
READERS DIGEST ASSN INC      COM            755267101         105       10,324   X                                            10,324
REALNETWORKS INC             COM            75605L104          72       17,543   X                                            17,543
REEBOK INTL LTD              COM            758110100         793       24,145   X                                            24,145
REGENCY CTRS CORP            COM            758849103       1,326       40,254   X                                            40,254
REGENERON PHARMACEUTICALS    COM            75886F107         184       24,500   X                                            24,500
REGIONS FINL CORP            COM            758940100       7,869      242,863   X                                           242,863



                                       13


                       VERIZON INVESTMENT MANAGEMENT CORP.
                     FORM 13F - SOLE INSTR V. NONE AUTHORITY
                                 MARCH 31, 2003



           ITEM 1:               ITEM 2:     ITEM 3:     ITEM 4:      ITEM 5:        ITEM 6:        ITEM 7:         ITEM 8:
---------------------------- -------------- --------- ------------   --------- -------------------- -------- -----------------------
                                                                                 INV. DISCRETION             VOTING AUTHORITY SHARES
                                                                                (A)   (B)     (C)               (A)  (B)       (C)
                                                      PENSION FAIR   SHARES OR      SHARED          MANAGERS
                                              CUSIP   MARKET VALUE   PRINCIPAL      AS DEF.  SHARED   SEE
NAME OF ISSUER               TITLE OF CLASS  NUMBER      ($000)       AMOUNT   SOLE INSTR. V OTHER  INSTR.V    SOLE SHARED    NONE
--------------               -------------- --------- ------------   --------- ---- -------- ------ --------   ---- ------    ----
                                                                                          
RELIANT RES INC              COM            75952B105          64       17,850   X                                            17,850
RENAL CARE GROUP INC         COM            759930100         285        9,130   X                                             9,130
RENT A CTR INC NEW           COM            76009N100       1,596       29,048   X                                            29,048
REPUBLIC SVCS INC            COM            760759100         683       34,401   X                                            34,401
REYNOLDS & REYNOLDS CO       CL A           761695105       2,952      116,663   X                                           116,663
REYNOLDS R J TOB HLDGS INC   COM            76182K105       1,502       46,556   X                                            46,556
RITE AID CORP                COM            767754104         114       50,847   X                                            50,847
ROBERT HALF INTL INC         COM            770323103         828       62,210   X                                            62,210
ROCKWELL AUTOMATION INC      COM            773903109       3,390      163,777   X                                           163,777
ROCKWELL COLLINS INC         COM            774341101       1,118       60,873   X                                            60,873
ROHM & HAAS CO               COM            775371107       2,761       92,730   X                                            92,730
ROSLYN BANCORP INC           COM            778162107       1,045       58,138   X                                            58,138
ROSS STORES INC              COM            778296103       5,276      146,116   X                                           146,116
ROUSE CO                     COM            779273101         228        6,588   X                                             6,588
ROWAN COS INC                COM            779382100         512       26,035   X                                            26,035
ROYAL DUTCH PETE CO          NY REG EUR .56 780257804         408       10,000   X                                            10,000
RUBY TUESDAY INC             COM            781182100         298       14,588   X                                            14,588
RYDER SYS INC                COM            783549108         396       19,316   X                                            19,316
SBC COMMUNICATIONS INC       COM            78387G103      40,829    2,035,334   X                                         2,035,334
SEI INVESTMENTS CO           COM            784117103         661       25,238   X                                            25,238
SLM CORP                     COM            78442P106      12,178      109,791   X                                           109,791
SPX CORP                     COM            784635104         459       13,430   X                                            13,430
SABRE HLDGS CORP             CL A           785905100         852       53,562   X                                            53,562
SAFECO CORP                  COM            786429100       1,973       56,431   X                                            56,431
SAFENET INC                  COM            78645R107         506       24,700   X                                            24,700
SAFEWAY INC                  COM NEW        786514208       4,697      248,147   X                                           248,147
ST JOE CO                    COM            790148100       1,064       39,111   X                                            39,111
ST JUDE MED INC              COM            790849103       9,509      195,049   X                                           195,049
ST MARY LD & EXPL CO         COM            792228108         534       21,300   X                                            21,300
ST PAUL COS INC              COM            792860108       3,391      106,641   X                                           106,641
SANMINA SCI CORP             COM            800907107         572      141,683   X                                           141,683
SARA LEE CORP                COM            803111103      11,253      601,758   X                                           601,758
SCANA CORP NEW               COM            80589M102       1,910       63,841   X                                            63,841
SCHEIN HENRY INC             COM            806407102       1,203       26,672   X                                            26,672
SCHERING PLOUGH CORP         COM            806605101      16,665      934,658   X                                           934,658
SCHLUMBERGER LTD             COM            806857108       4,747      124,899   X                                           124,899
SCHOLASTIC CORP              COM            807066105         381       14,158   X                                            14,158
SCHWAB CHARLES CORP NEW      COM            808513105       4,350      602,461   X                                           602,461
SCIENTIFIC ATLANTA INC       COM            808655104       2,053      149,412   X                                           149,412
SCOTTS CO                    CL A           810186106       1,162       22,434   X                                            22,434
SCRIPPS E W CO OHIO          CL A           811054204       4,180       55,189   X                                            55,189
SEALED AIR CORP NEW          COM            81211K100       1,113       27,730   X                                            27,730
SEARS ROEBUCK & CO           COM            812387108       3,262      135,077   X                                           135,077
SEMTECH CORP                 COM            816850101         356       23,515   X                                            23,515
SEMPRA ENERGY                COM            816851109       4,192      167,940   X                                           167,940
SENSIENT TECHNOLOGIES CORP   COM            81725T100         234       11,700   X                                            11,700
SEQUA CORPORATION            CL A           817320104         599       17,500   X                                            17,500
SERVICEMASTER CO             COM            81760N109         186       18,618   X                                            18,618
SHERWIN WILLIAMS CO          COM            824348106       3,941      149,122   X                                           149,122
SICOR INC                    COM            825846108         571       34,205   X                                            34,205
SIEBEL SYS INC               COM            826170102       1,365      170,415   X                                           170,415
SIGMA ALDRICH CORP           COM            826552101       1,838       41,311   X                                            41,311
SILICON LABORATORIES INC     COM            826919102         241        9,200   X                                             9,200
SIMON PPTY GROUP INC NEW     COM            828806109       1,844       51,473   X                                            51,473



                                       14


                       VERIZON INVESTMENT MANAGEMENT CORP.
                     FORM 13F - SOLE INSTR V. NONE AUTHORITY
                                 MARCH 31, 2003



           ITEM 1:               ITEM 2:     ITEM 3:     ITEM 4:      ITEM 5:        ITEM 6:        ITEM 7:         ITEM 8:
---------------------------- -------------- --------- ------------   --------- -------------------- -------- -----------------------
                                                                                 INV. DISCRETION             VOTING AUTHORITY SHARES
                                                                                (A)   (B)     (C)               (A)  (B)       (C)
                                                      PENSION FAIR   SHARES OR      SHARED          MANAGERS
                                              CUSIP   MARKET VALUE   PRINCIPAL      AS DEF.  SHARED   SEE
NAME OF ISSUER               TITLE OF CLASS  NUMBER      ($000)       AMOUNT   SOLE INSTR. V OTHER  INSTR.V    SOLE SHARED    NONE
--------------               -------------- --------- ------------   --------- ---- -------- ------ --------   ---- ------    ----
                                                                                          
SMITH INTL INC               COM            832110100       1,983       56,301   X                                            56,301
SMITHFIELD FOODS INC         COM            832248108         917       51,754   X                                            51,754
SMUCKER J M CO               COM NEW        832696405       1,440       41,192   X                                            41,192
SMURFIT-STONE CONTAINER CORP COM            832727101         142       10,625   X                                            10,625
SNAP ON INC                  COM            833034101         264       10,659   X                                            10,659
SOLECTRON CORP               COM            834182107         683      226,317   X                                           226,317
SONOCO PRODS CO              COM            835495102         239       11,432   X                                            11,432
SOUTHERN CO                  COM            842587107      10,858      381,800   X                                           381,800
SOUTHTRUST CORP              COM            844730101       9,874      386,769   X                                           386,769
SOUTHWEST AIRLS CO           COM            844741108      14,469    1,007,566   X                                         1,007,566
SOUTHWEST GAS CORP           COM            844895102         794       39,000   X                                            39,000
SOVEREIGN BANCORP INC        COM            845905108       1,845      133,192   X                                           133,192
SPRINT CORP                  COM FON GROUP  852061100       3,237      275,489   X                                           275,489
SPRINT CORP                  PCS COM SER 1  852061506       2,034      466,463   X                                           466,463
SS&C TECHNOLOGIES INC        COM            85227Q100         213       17,500   X                                            17,500
STANLEY WKS                  COM            854616109         522       21,754   X                                            21,754
STAPLES INC                  COM            855030102       2,961      161,535   X                                           161,535
STARBUCKS CORP               COM            855244109       3,995      155,076   X                                           155,076
STARWOOD HOTELS&RESORTS WRLD PAIRED CTF     85590A203       1,716       72,139   X                                            72,139
STATE STR CORP               COM            857477103       3,940      124,578   X                                           124,578
STERICYCLE INC               COM            858912108         620       16,500   X                                            16,500
STERIS CORP                  COM            859152100         391       14,963   X                                            14,963
STORAGE TECHNOLOGY CORP      COM PAR $0.10  862111200         664       32,860   X                                            32,860
STRYKER CORP                 COM            863667101       5,944       86,589   X                                            86,589
SUN MICROSYSTEMS INC         COM            866810104       5,360    1,644,158   X                                         1,644,158
SUNGARD DATA SYS INC         COM            867363103       4,198      197,083   X                                           197,083
SUNOCO INC                   COM            86764P109       2,117       57,891   X                                            57,891
SUNTRUST BKS INC             COM            867914103       8,509      161,622   X                                           161,622
SUPERVALU INC                COM            868536103         566       36,516   X                                            36,516
SYBASE INC                   COM            871130100         281       21,671   X                                            21,671
SYMANTEC CORP                COM            871503108       4,165      106,308   X                                           106,308
SYMBOL TECHNOLOGIES INC      COM            871508107         522       60,604   X                                            60,604
SYNOPSYS INC                 COM            871607107         718       16,870   X                                            16,870
SYNOVUS FINL CORP            COM            87161C105       2,192      122,547   X                                           122,547
SYSCO CORP                   COM            871829107      13,224      519,798   X                                           519,798
TCF FINL CORP                COM            872275102         898       22,432   X                                            22,432
TECO ENERGY INC              COM            872375100       1,221      114,840   X                                           114,840
TJX COS INC NEW              COM            872540109      10,987      624,234   X                                           624,234
TMP WORLDWIDE INC            COM            872941109         293       27,308   X                                            27,308
TXU CORP                     COM            873168108       1,443       80,820   X                                            80,820
TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADR  874039100         182       26,600   X                                            26,600
TARGET CORP                  COM            87612E106      20,384      696,649   X                                           696,649
TECH DATA CORP               COM            878237106       1,387       57,926   X                                            57,926
TEKTRONIX INC                COM            879131100         325       18,933   X                                            18,933
TELEPHONE & DATA SYS INC     COM            879433100         345        8,435   X                                             8,435
TELLABS INC                  COM            879664100         617      106,557   X                                           106,557
TEMPLE INLAND INC            COM            879868107         350        9,369   X                                             9,369
TENET HEALTHCARE CORP        COM            88033G100       3,268      195,715   X                                           195,715
TERADYNE INC                 COM            880770102         722       62,056   X                                            62,056
TEXAS INSTRS INC             COM            882508104      18,358    1,121,425   X                                         1,121,425
TEXTRON INC                  COM            883203101       1,084       39,475   X                                            39,475
THERMO ELECTRON CORP         COM            883556102         912       50,372   X                                            50,372
THOMAS & BETTS CORP          COM            884315102         217       15,290   X                                            15,290
THOMAS INDS INC              COM            884425109         417       16,800   X                                            16,800



                                       15


                       VERIZON INVESTMENT MANAGEMENT CORP.
                     FORM 13F - SOLE INSTR V. NONE AUTHORITY
                                 MARCH 31, 2003



           ITEM 1:               ITEM 2:     ITEM 3:     ITEM 4:      ITEM 5:        ITEM 6:        ITEM 7:         ITEM 8:
---------------------------- -------------- --------- ------------   --------- -------------------- -------- -----------------------
                                                                                 INV. DISCRETION             VOTING AUTHORITY SHARES
                                                                                (A)   (B)     (C)               (A)  (B)       (C)
                                                      PENSION FAIR   SHARES OR      SHARED          MANAGERS
                                              CUSIP   MARKET VALUE   PRINCIPAL      AS DEF.  SHARED   SEE
NAME OF ISSUER               TITLE OF CLASS  NUMBER      ($000)       AMOUNT   SOLE INSTR. V OTHER  INSTR.V    SOLE SHARED    NONE
--------------               -------------- --------- ------------   --------- ---- -------- ------ --------   ---- ------    ----
                                                                                          
3COM CORP                    COM            885535104         135       27,406   X                                            27,406
3M CO                        COM            88579Y101      38,258      294,225   X                                           294,225
TIDEWATER INC                COM            886423102       1,098       38,233   X                                            38,233
TIFFANY & CO NEW             COM            886547108       1,385       55,387   X                                            55,387
TITAN CORP                   COM            888266103         113       15,111   X                                            15,111
TORCHMARK CORP               COM            891027104       7,561      211,204   X                                           211,204
TOYS R US INC                COM            892335100         322       38,528   X                                            38,528
TRAVELERS PPTY CAS CORP NEW  CL A           89420G109         670       47,524   X                                            47,524
TRAVELERS PPTY CAS CORP NEW  CL B           89420G406       3,248      230,207   X                                           230,207
TRIAD HOSPITALS INC          COM            89579K109         488       18,140   X                                            18,140
TRIBUNE CO NEW               COM            896047107       3,816       84,781   X                                            84,781
TRUSTMARK CORP               COM            898402102       1,288       54,206   X                                            54,206
TYCO INTL LTD NEW            COM            902124106       9,042      703,099   X                                           703,099
TYSON FOODS INC              CL A           902494103         107       13,868   X                                            13,868
UST INC                      COM            902911106       4,501      163,067   X                                           163,067
US BANCORP DEL               COM NEW        902973304      12,304      648,260   X                                           648,260
USA INTERACTIVE              COM            902984103       2,486       92,782   X                                            92,782
UNILEVER N V                 N Y SHS NEW    904784709       4,928       82,900   X                                            82,900
UNION PAC CORP               COM            907818108       6,655      120,991   X                                           120,991
UNION PLANTERS CORP          COM            908068109       1,636       62,234   X                                            62,234
UNIONBANCAL CORP             COM            908906100       5,623      142,651   X                                           142,651
UNISYS CORP                  COM            909214108         979      105,736   X                                           105,736
UNITED ONLINE INC            COM            911268100         395       22,900   X                                            22,900
UNITED PARCEL SERVICE INC    CL B           911312106      21,985      385,695   X                                           385,695
UNITED STATES STL CORP NEW   COM            912909108         332       33,816   X                                            33,816
UNITED TECHNOLOGIES CORP     COM            913017109      23,838      412,563   X                                           412,563
UNITEDHEALTH GROUP INC       COM            91324P102      15,273      166,612   X                                           166,612
UNITRIN INC                  COM            913275103         305       13,174   X                                            13,174
UNIVERSAL HLTH SVCS INC      CL B           913903100       2,089       51,232   X                                            51,232
UNIVISION COMMUNICATIONS INC CL A           914906102       2,191       89,374   X                                            89,374
UNOCAL CORP                  COM            915289102       1,504       57,165   X                                            57,165
UNUMPROVIDENT CORP           COM            91529Y106         436       44,486   X                                            44,486
UTSTARCOM INC                COM            918076100         788       39,421   X                                            39,421
V F CORP                     COM            918204108         913       24,267   X                                            24,267
VALASSIS COMMUNICATIONS INC  COM            918866104         368       13,939   X                                            13,939
VALERO ENERGY CORP NEW       COM            91913Y100         998       24,115   X                                            24,115
VALLEY NATL BANCORP          COM            919794107         527       21,392   X                                            21,392
VALSPAR CORP                 COM            920355104       1,538       37,585   X                                            37,585
VARCO INTL INC DEL           COM            922122106         299       16,350   X                                            16,350
VARIAN MED SYS INC           COM            92220P105       3,166       58,711   X                                            58,711
VECTREN CORP                 COM            92240G101         950       44,183   X                                            44,183
VERISIGN INC                 COM            92343E102         277       31,662   X                                            31,662
VERIZON COMMUNICATIONS       COM            92343V104      60,950    1,724,191   X                                         1,724,191
VERITAS SOFTWARE CO          COM            923436109       3,364      191,232   X                                           191,232
VERTEX PHARMACEUTICALS INC   COM            92532F100         408       36,641   X                                            36,641
VIAD CORP                    COM            92552R109         371       17,316   X                                            17,316
VIACOM INC                   CL A           925524100       4,471      122,500   X                                           122,500
VIACOM INC                   CL B           925524308      37,973    1,039,780   X                                         1,039,780
VISHAY INTERTECHNOLOGY INC   COM            928298108         253       24,863   X                                            24,863
VISTEON CORP                 COM            92839U107         143       24,066   X                                            24,066
VULCAN MATLS CO              COM            929160109       1,441       47,653   X                                            47,653
WSFS FINL CORP               COM            929328102         714       22,600   X                                            22,600
WACHOVIA CORP 2ND NEW        COM            929903102      30,343      890,612   X                                           890,612
WADDELL & REED FINL INC      CL A           930059100         287       16,335   X                                            16,335



                                       16


                       VERIZON INVESTMENT MANAGEMENT CORP.
                     FORM 13F - SOLE INSTR V. NONE AUTHORITY
                                 MARCH 31, 2003



           ITEM 1:               ITEM 2:     ITEM 3:     ITEM 4:      ITEM 5:        ITEM 6:        ITEM 7:         ITEM 8:
---------------------------- -------------- --------- ------------   --------- -------------------- -------- -----------------------
                                                                                 INV. DISCRETION             VOTING AUTHORITY SHARES
                                                                                (A)   (B)     (C)               (A)  (B)       (C)
                                                      PENSION FAIR   SHARES OR      SHARED          MANAGERS
                                              CUSIP   MARKET VALUE   PRINCIPAL      AS DEF.  SHARED   SEE
NAME OF ISSUER               TITLE OF CLASS  NUMBER      ($000)       AMOUNT   SOLE INSTR. V OTHER  INSTR.V    SOLE SHARED    NONE
--------------               -------------- --------- ------------   --------- ---- -------- ------ --------   ---- ------    ----
                                                                                          
WAL MART STORES INC          COM            931142103     140,835    2,706,801   X                                         2,706,801
WALGREEN CO                  COM            931422109      17,755      602,263   X                                           602,263
WASHINGTON MUT INC           COM            939322103      27,532      780,611   X                                           780,611
WASHINGTON POST CO           CL B           939640108       7,041       10,334   X                                            10,334
WASTE MGMT INC DEL           COM            94106L109       6,194      292,428   X                                           292,428
WATERS CORP                  COM            941848103       1,374       64,955   X                                            64,955
WATSON PHARMACEUTICALS INC   COM            942683103       1,291       44,880   X                                            44,880
WATTS INDS INC               CL A           942749102         227       14,600   X                                            14,600
WEBMD CORP                   COM            94769M105         756       83,773   X                                            83,773
WEIGHT WATCHERS INTL INC NEW COM            948626106       3,299       71,638   X                                            71,638
WELLPOINT HEALTH NETWORK NEW COM            94973H108       6,771       88,224   X                                            88,224
WELLS FARGO & CO NEW         COM            949746101      33,741      749,978   X                                           749,978
WENDYS INTL INC              COM            950590109       1,059       38,494   X                                            38,494
WESTAMERICA BANCORPORATION   COM            957090103       1,303       32,995   X                                            32,995
WESTWOOD ONE INC             COM            961815107       2,566       82,123   X                                            82,123
WEYERHAEUSER CO              COM            962166104       5,326      111,345   X                                           111,345
WHIRLPOOL CORP               COM            963320106         728       14,858   X                                            14,858
WHOLE FOODS MKT INC          COM            966837106       7,458      134,035   X                                           134,035
WILEY JOHN & SONS INC        CL A           968223206         237       10,446   X                                            10,446
WILLIAMS COS INC DEL         COM            969457100         458      100,021   X                                           100,021
WILLIAMS SONOMA INC          COM            969904101         648       29,719   X                                            29,719
WILMINGTON TRUST CORP        COM            971807102       2,050       73,755   X                                            73,755
WINN DIXIE STORES INC        COM            974280109         279       21,139   X                                            21,139
WISCONSIN ENERGY CORP        COM            976657106       3,627      142,785   X                                           142,785
WORTHINGTON INDS INC         COM            981811102         207       17,374   X                                            17,374
WRIGLEY WM JR CO             COM            982526105       5,395       95,483   X                                            95,483
WYETH                        COM            983024100      27,722      732,998   X                                           732,998
XTO ENERGY CORP              COM            98385X106       2,238      117,803   X                                           117,803
XCEL ENERGY INC              COM            98389B100       1,195       93,275   X                                            93,275
XILINX INC                   COM            983919101       3,081      131,615   X                                           131,615
XEROX CORP                   COM            984121103       2,108      242,244   X                                           242,244
YAHOO INC                    COM            984332106       6,954      289,500   X                                           289,500
YUM BRANDS INC               COM            988498101       2,856      117,366   X                                           117,366
ZEBRA TECHNOLOGIES CORP      CL A           989207105       2,425       37,648   X                                            37,648
ZIMMER HLDGS INC             COM            98956P102      12,620      259,514   X                                           259,514
ZIONS BANCORPORATION         COM            989701107         720       16,839   X                                            16,839
                                                       ---------
GRAND TOTAL                                            5,267,998


                                       17