33F Tower One, Ayala Triangle, Ayala Avenue

Makati City, 1226 Philippines

www.ayala.com.ph

15 January 2020

Philippine Stock Exchange

6/F, PSE Tower
5th Avenue corner 28th Street,
Bonifacio Global City, Taguig City

Attention: Ms. Janet A. Encarnacion

Head, Disclosure Department

Philippine Dealing & Exchange Corporation

29th Floor, BDO Equitable Tower
8751 Paseo de Roxas, Makati City 1226

Attention: Atty. Marie Rose M. Magallen-Lirio

Head, Issuer Compliance and Disclosure Department

Subject: Report on the Top 100 Shareholders

Gentlemen:

This is in connection with the Exchange’s Revised Disclosure Rules requiring Ayala Corporation to submit a report
on the top 100 shareholders of the Company.

In compliance therewith, we are submitting herewith the list of top 100 shareholders of the Company’s common
share for the quarter-ending December 2019.

Thank you.

Very truly yours,

SOLOMON M. HERMOSURA
Chief Legal Officer and Corporate Secretary
 BPI STOCK TRANSFER OFFICE
AYALA CORPORATION
TOP 100 STOCKHOLDERS
AS OF DECEMBER 31, 2019

RANK STOCKHOLDER NAME OUTSTANDING SHARES PERCENTAGE TOTAL

1 MERMAC INC 296,625,706 47.3326% 296,625,706

2 3RD FLOOR,
PCD NOMINEEMAKATI STOCK EXCHANGE
CORPORATION BUILDING, AYALA
(NON-FILIPINO) 165,303,479 26.3775% 165,303,479

3 TRIANGLE,
37F
PCD TOWER AYALA
NOMINEE1, THEAVENUE, MAKATI
ENTERPRISE
CORPORATION CITY 1226
CENTER,
(FILIPINO) 105,422,728 16.8223% 105,422,728

4 AYALA
37F AVE COR
TOWER
MITSUBISHI 1, PASEO
THE DE ROXAS,
ENTERPRISE
CORPORATION CENTER, 37,771,896 6.0272% 37,771,896

5 1226MARUNOUCHI
AYALA
3-1, MAKATI
SHOEMART CITY
AVE COR
INC. PASEO DE ROXAS,
2-CHROME, CHIYODA-KU, 7,529,203 1.2014% 7,529,203

6 1226
TOKYO
C/O MAKATI
SYSMART CITYJAPAN
100-8086,
MS. VIRGINIA YAP/ JUDITH E. BALDERRAMA
CORPORATION 1,500,912 0.2395% 1,500,912

7 10/FINVESTMENT
C/O
SM LV LOCSIN
VIRGINIA BLDG.
YAP 6752
&/OR AYALA
JUDITH
CORPORATION AVE., COR MAKATI
E. BALDERRAMA 1,418,610 0.2263% 1,418,610

8 AVE.,
10/F
C/O MS.
PHIL. MAKATI
LV LOCSINCITY
BLDG.,
VIRGINIA
REMNANTS 6752
YAP/INC.
CO., AYALA
JUDITH AVE, COR MAKATI
E. BALDERRAMA 823,046 0.1313% 823,046

9 AVE, MAKATI
10TH
2135
ESOWNAFLR CITY
LV LOCSIN
PASONG BLDG.,
TAMO
ADMINISTRATORST.,2019 515,904 0.0823% 515,904

10 6752
ESOWNAYALA
MAKATI
C/O MS. CITY
ELMAAVE. COR. MAKATI
Y. GUINTO,
ADMINISTRATOR AVE.,
ESOWN
2018 MAKATI CITY
ADMINISTRATOR, 486,572 0.0776% 486,572

11 34F TOWER
C/O
ESOWN ONE,M.
MS. FELICIA AYALA TRIANGLE,
CARVAJAL,
ADMINISTRATOR 2016 AYALA AVENUE, 484,617 0.0773% 484,617

12 MAKATI
ESOWN
C/O
ESOWN CITY 1226
MS.ADMINISTRATOR,
FELICIA M. CARVAJAL,
ADMINISTRATOR 2017 ESOWN ADMINISTRATOR, 441,426 0.0704% 441,426

13 34F TOWER
C/O
ESOWN ONE,M.
AYALA
MS.ADMINISTRATOR
FELICIA TRIANGLE,
CARVAJAL,
2015 ESOWN ADMINISTRATOR, 431,619 0.0688% 431,619

14 AYALA
34F
C/O MS.AVENUE,
TOWER ONE,
FELICIA
MITSUBISHI MAKATI
AYALA CITY
CARVAJAL,
LOGISTICS 1226
TRIANGLE,
34F AYALA
AYALA
CORPORATION AVENUE,
TOWER ONE, 360,512 0.0575% 360,512

15 MAKATI
19-1,
ESOWN CITY 1226
AYALANIHONBASHI
CORNER PASEO DE2012
ROXAS
1-CHROME,
ADMINISTRATOR AVENUE,
CHO-KU, TOKYO, JAPAN 315,963 0.0504% 315,963

16 MAKATI
C/O
ESOWN CITY
AYALA CORP. - ESOWN
ADMINISTRATOR ADMIN
2014 291,345 0.0464% 291,345

17 C/O MS. FELICIA

TELENGTAN CARVAJAL-ESOWN
BROTHERS & SONS, INC.ADMIN TOWER 1 & 136,857 0.0218% 136,857

18 EXCHANGE
C/O LA YAN
LUCIO PLAZA,
SUERTE AYALA
CIGAR TRIANGLE,FACTORY
& CIGARETTE AYALA AVENUE, 127,996 0.0204% 127,996

19 MAKATI
KM. P.CITY
14 SOUTH
537 LAFAYETTE
XAVIER SUPERHIGHWAY
ST., GREENHILLS PARANAQUE CITY
LOINAZ 126,052 0.0201% 126,052

20 EASTMANAGEMENT
1635
ERA MANDALUYONG, MM
CYPRESS ST., DASMARINAS
& DEVELOPMENT CORP. 106,118 0.0169% 106,118

21 VILLAGE,
ABOITIZ &MAKATI CITYINC.,
COMPANY
ANGEL ESTRADA 1222ABOITIZ CORPORATE CENTER, 97,317 0.0155% 97,317

22 GOV.A.I.
C/O
AFM MANUEL A. CUENCO
MANPOWER
MANAGEMENT & AVENUE
SERVICES
DEVELOPMENT 90,723 0.0144% 90,723

23 CEBU
INC
LGF CITY
2ND FLR CORPORATE
ABOITIZ
EDDIE HAO ENZO BLDG. CENTER,
399 J. 88,435 0.0141% 88,435

24 PUYAT
RM.
JAIME AVE.
GOV.804
MANUEL A. AYALA
FEDERAL
ZOBEL DE CUENCO AVENUE,
TOWER BLDG., 86,400 0.0137% 86,400

25 EXT. SONOMA
C/O MAKATI,
ROBERT ONG M.M.
KASAMBAGAN,
DASMARINAS CEBU
ST., (HOLD)
CITY
COR.
SERVICES, 6000
MUELLE
INC. 76,518 0.0122% 76,518

26 DE BINONDO
35TH
ANDRES ST.,
ST., BINONDO,
FLR.,VAZQUEZ-PRADA
33 DUHAT TOWER ONE
VALLE & EXCHANGE
VERDE,
ORPASIG PLAZA
CITY, MMS. VAZQUEZ-PRADA
MA. CRISTINA 74,200 0.0118% 74,200

27 MANILA
AYALA
UNIT
MARIA TRIANGLE,
49B HORIZON
LOURDES AYALA AVENUE
HOMES,
TUASON SHANGRILA AT THE FORT, 57,046 0.0091% 57,046

28 MAKATI
BGC
MONINA CITY
1392TAGUIG
PALM CITY 1634
C. AVENUE METRO
COR.
MACAVINTA MANILA
MORADO 53,773 0.0085% 53,773

29 STS. MR.
C/O
ESOWNDASMARINAS VILLAGE,
RAMON FR MEDINA
ADMINISTRATOR 2009 53,495 0.0085% 53,495

30 MAKATI
OFFICE
C/O
RAMON CITY
OF
F. THE
AYALA VICE
CORP.
R. PRESIDENT
ESOWN
MEDINA 52,959 0.0084% 52,959

31 FOR SAN
211 CORP.
RUFINO SERVICES
MELO IIIST., AY
RAFAEL COR. SAN ENRIQUE 52,549 0.0083% 52,549

32 AYALA
115 ALABANG
RIZAL
JALANDONI ST.JAYMEVILLAGE,
AYALA MUNTINLUPA
SOUTHVALE
ADAMS & CO CITY 1780 52,042 0.0083% 52,042

33 MOLINO,
5TH
MYA FLR. BACOOR,
PDCP CAVITE
BLDG.
MANAGEMENT AYALA4102
CORPORATION 51,482 0.0082% 51,482

34 AVE., MAKATI,
ABOITIZ
MAKATI & M.M. METRO
COMPANY
SUPERMARKETINC.,
CORP.=
ABOITIZ CORPORATE CENTER, 50,548 0.0080% 50,548

35 HOLD
GOV. - RTSODCS.INT'L
MANUEL
2ND FLR.,
BERNADETTE A.GO
CUENCO
PLAZAAVENUE 50,200 0.0080% 50,200

36 CEBU10TH
COND.
122 CITY
CORP.,
RELIANCE ST. 219 SALCED
NEW MANILA,
COMMERCIAL QUEZON CITY
ENTERPRISES, INC. 49,766 0.0079% 49,766

37 LEGASPI
SULLIVANVILLAGE,
6TH FLOORHOLDINGSMAKATI,
COMFOODS MM
BLDG.
LIMITED 45,943 0.0073% 45,943

GIL PUYATBLDG.
CITIBANK AVENUE
TOMPSON BLVD Page 1 of 3
MAKATIFIELD
OAKES CITY MASSAU, BAHAMAS

HOLD
 BPI STOCK TRANSFER OFFICE
AYALA CORPORATION
TOP 100 STOCKHOLDERS
AS OF DECEMBER 31, 2019

RANK STOCKHOLDER NAME OUTSTANDING SHARES PERCENTAGE TOTAL

38 ESOWN ADMINISTRATOR 2008 43,410 0.0069% 43,410

39 C/O AYALAA.CORPORATION
ROSALLIE DIMAANO 42,438 0.0067% 42,438

40 J. VENECIAL.STREET,
ROBERTO UY VILLA FIRENZE, CULIAT, 41,961 0.0066% 41,961

41 QUEZON
1667
MA. CITYBOCOBO,
JORGE
LOURDES (11TH FLOOR) AMELIE HOTEL
G. LATONIO 40,803 0.0065% 40,803

42 MALATE,
ENRIQUE 1004
122 GUAVA MANILA
M.DRIVE
BELO AYALA ALABANG 40,112 0.0064% 40,112

43 VILLAGE
6780
CEDAR MUNTINLUPA
CIBELES BLDG 6THCITY
COMMODITIES, FLR.
INC. 40,000 0.0063% 40,000

44 AYALA
6F
APOLLOAVE
CEDAR MAKATI
TRADING METRO
EXECUTIVE BUILDING
CO., HOLD
INC. (MRS 39,398 0.0062% 39,398

45 26 TIMOG
ROL BLDG.,AVE.
UNIVERSAL COR.CORPORATION
MEZZANINE
ROBINA SCOUT TOBIAS
FLOOR, 2133ST.
TAFT AVE., 37,522 0.0059% 37,522

46 QUEZON
MALATE,
42/F
ANTONINOCITY
MANILA
ROBINSONS 1004
EQUITABLE
T. AQUINO TOWER 37,285 0.0059% 37,285

47 ADBFORDHAM,
31 AVENUE
JACINTO CORNER POVEDAQUEZON
WHITE PLAINS,
D. JIMENEZ ROAD, CITY 36,728 0.0058% 36,728

48 PASIGFLOOR,
21ST CITY
JEFFREY PHILAMLIFE
REGINALD CHINGTOWER, 36,000 0.0057% 36,000

49 8767 PASEO
42 NARRA
MICHAEL STDE
JETHROROXAS,
FORBES
CUENCOMAKATI
PARK, CITY
MAKATI
CABRAL ORCITY
SAMUEL V. CABRAL OR 34,500 0.0055% 34,500
MARTIN JOACHIM C. CABRAL

50 558 COUNTRY
MIGUEL CLUB
ENRIQUE DRIVE ROA
SINGSON 32,000 0.0051% 32,000

51 AYALA
ENDEL ALABANG
15 CHICO
REALTY VILLAGE
STREET, VALLE VERDE 1,CORPORATION
& MANAGEMENT PASIG CITY 31,479 0.0050% 31,479

52 MUNTINLUPA
5
E.BEATERIO ST.CITY
ZOBEL, INC. FAO HALDANE INVESTMENTS N.V 31,450 0.0050% 31,450

53 URDANETA
5TH ROMAN
THE VILLAGE,
FLR., ENZO
CATHOLICMAKATI
BLDG., CITY
BISHOP OF 1225
TUGUEGARAO 28,818 0.0045% 28,818

54 399 SENTIONG
BISHOP'S
CHING GIL PUYAT
KENGAVE.,
RESIDENCE, MAKATI
RIZAL ST., TUGUEGARAO CITY, 27,446 0.0043% 27,446

55 CAGAYAN 3500 CIGAR & CIG FACTORY

C/O LA SUERTE
WILSON ONG 27,146 0.0043% 27,146

56 KM 14TAFT
2540
DELFINSOUTH SUPERHIWAY
AVENUE
C. GONZALEZPASAY PARANAQUE CITY
JR. CITY 26,256 0.0041% 26,256

57 231 SAN
SECOR JOSE ST., INC.
HOLDINGS AYALA ALABANG VILLAGE, 26,000 0.0041% 26,000

58 MUNTINLUPA
GF CRYSTAL
ALFREDO CITY
MANSION
I. AYALA BLDG., 25,760 0.0041% 25,760

59 14 SOUTH
32/F
ORLANDO A-A
TOWER I, STREET, CORNER DON A. ROCES AVENUE,
AYALA TRIANGLE
L. GALANG 25,737 0.0041% 25,737

60 QUEZON
AYALA
16
YALDA CITY 1104
EASTAVENUE,
MANGYAN,MAKATI
DEVELOPMENT CITY MARYMOUNT, LOYOLA
LACORPORATION
VISTA, 25,186 0.0040% 25,186

61 HEIGHTS,
NO.
FILEMON QUEZON
T. BERBA CITY
08 MORNINGSIDE 1108 BAJADA,
JR. HEIGHTS, 24,409 0.0038% 24,409

62 BRGY. BUHANGIN,
8 GARDENIA
ALBERTO DRIVE,DAVAO
MENDOZA CITY
BEVERLY
AND/OR HILLS SUBDIVISION
JEANIE C 24,339 0.0038% 24,339

63 P.O. BOX
ANTIPOLO,
1145
ERLINDA 81404
T. RIZAL
AGUILAR ST., TONDO, MANILA
ESTRELLADO 24,000 0.0038% 24,000

64 318 CALIRAYA
MARILEX, ST.,DEV.
REALTY AYALA ALABANG VILLAGE,
CORP. 23,685 0.0037% 23,685

65 MUNTINLUPA
UNIT
JOSE S-8,
A. ALBERT CITY
2/F SUNVAR PLAZA BLDG., 23,605 0.0037% 23,605

66 CORNER
#33
SMITH AMORSOLO
FIREFLY
KLINESTREET, STREET,
UNIT
& FRENCH 204ARNAIZ
ALEXIS AVENUE,
CONDOMINIUM, 23,547 0.0037% 23,547

67 MAKATI
VALLE
BENITO CITY
VERDE
VICTORIA 6, PASIG
VALLEY
KEH BLVDCITY
CAINTA 23,181 0.0036% 23,181

68 RIZAL
68 JUPITER
ARCO ST., BEL-AIR,
EQUITIES, INC. MAKATI CITY 1209 22,394 0.0035% 22,394

69 12/F STRATA
RODOLFO 100 BLDG.
A. SALALIMA 22,334 0.0035% 22,334

70 #EMERALD
SHINING AVE. ORTIGAS
28 DIAMOND
INVESTMENT CENTER SUBDIVISION,
STREET,CORPORATION
TEREMIL 20,989 0.0033% 20,989

71 PASIG
BRGY.
36 GOV.
ELSIE CITY
MAMBUGAN,
PASCUAL
ELISES ANTIPOLO
AVE
SEMILLA CITY
MALABON, 20,611 0.0032% 20,611

72 MM 5ANGELA
NO.
MA. CEBU ST., ALABANG HILLS VILLAGE,
B. TRILLANA 20,520 0.0032% 20,520

73 MUNTINLUPA
3169
AC V. MAPA CITY
ESOP/ESOWNST ACCOUNT
STA. MESA, MANILA 20,269 0.0032% 20,269

OFFICE OF THE CORP. SECRETARY Page 2 of 3

32/F AYALA TOWER I AYALA

TRIANGLE AYALA AVE., MAKATI

 BPI STOCK TRANSFER OFFICE
AYALA CORPORATION
TOP 100 STOCKHOLDERS
AS OF DECEMBER 31, 2019

RANK STOCKHOLDER NAME OUTSTANDING SHARES PERCENTAGE TOTAL

74 MICHAEL V. YAP 20,254 0.0032% 20,254

75 6 PASIAN
ALLEN ST., TALAYAN VILLAGE, QUEZON CITY
CHAM 19,949 0.0031% 19,949

76 500-508 STO
ANTONIA CRISTO ST
P. GABRIEL BINONDO
AND/OR LOURDES G. LLAMAS 19,694 0.0031% 19,694

77 MANILA
#390
MARIA 1006=HOLD
COLUMBIA
ROSARIO V (DECEASED)
STCABRAL
EAST GREENHILLS, MANDALUYONG CITY 19,328 0.0030% 19,328

78 #6 ANTARES
MARIA ST.,BEL
PADILLA AIR VILL. IV, MAKATI CITY 1209
LIZARES 19,046 0.0030% 19,046

79 5 BAUHINIA
PATRICIA ROAD
ANNE FORBES PARK, MAKATI CITY
N. TAN 19,009 0.0030% 19,009

80 11 QUERUBIN
CORAZON SONCIRCLE, CORINTHIAN GARDEN, QUEZON CITY 18,936 0.0030% 18,936

81 41-D GILMORE
REGINA MARIA AVENUE (BET. 9TH AND 10TH ST),
R LEDESMA 18,728 0.0029% 18,728

82 NEW
23 PILIMANILA,
ROLANDO QUEZON
AVE CABREDO
FORBES CITY
PARK, MAKATI CITY 18,655 0.0029% 18,655

83 C/O MRBERNADETTE
MARIE RAMON FR MEDINA
JUGO BULATAO 18,502 0.0029% 18,502

84 OVP-CORPORATE
C/O VIRGINIA
LETICIA SERVICES
C. SY Z. JUGO, NO. 19 SARAZEN STREET, 18,328 0.0029% 18,328

85 AYALA CORPORATION
58 3RDHILLSIDE
SHERISAAVENUE ESTATES, OLD CALOOCAN
GRACE PARK,
P. NUESA BALARA, QUEZON
CITY CITY 18,129 0.0028% 18,129

86 306 LIAN
LUCIO W.ST.,
YANAYALA ALABANG
AND/OR VILL.,
CLARA Y. YANMUNTINLUPA CITY 18,000 0.0028% 18,000

87 537 LAFAYETTE
CHUA BEE BEE STREET, GREENHILLS, MANDALUYONG CITY 17,332 0.0027% 17,332

88 423 DASMARIÑAS
DANIEL CHUA WOOST., BINONDO 1006 MANILA
KAWPENG 17,100 0.0027% 17,100

88 562 HOLY
DAVID CROSS
CHUA WOO STREET, BO. GREENHILLS EAST,
KAWPENG 17,100 0.0027% 17,100

88 MANDALUYONG
562 HOLY CROSS
CHRISTOPHER CITY
STREET,
CHUA WOOBO. GREENHILLS EAST,
KAWPENG 17,100 0.0027% 17,100

88 MANDALUYONG
562 HOLY
EDWIN CROSS
CHUA WOOCITY
STREET, BO. GREENHILLS EAST,
KAWPENG 17,100 0.0027% 17,100

88 MANDALUYONG
562 HOLY
TOMAS CROSS
CHUA WOOCITY
STREET, BO. GREENHILLS EAST,
KAWPENG 17,100 0.0027% 17,100

89 MANDALUYONG
562 HOLY CROSS
PETRONILO CITY
STREET, GREENHILLS EAST,
L. TORRES 16,748 0.0026% 16,748

90 MANDALUYONG
ERNESTO CITY
DUPIL ST MORNING
OSCAR R SUBD NAIC
LEDESMA 16,747 0.0026% 16,747

91 CAVITE
23
MA.PILI HOLD
AVE
DELAS DECEASED
FORBES PARK,
MERCEDES MAKATI CITY
ZOBEL 16,477 0.0026% 16,477

92 5/F ENZO BUILDING

MERCEDES P. ROCES 15,778 0.0025% 15,778

93 399 GIL
C/O
ENRIQUE PUYAT
V. JRVAVENUE
ALBERTO GARCIA & CO RM
MORAS 15,445 0.0024% 15,445

94 MAKATI
516
403 CITY
FILMAN
MIDLAND
BENJAMIN O.BANK
BLDGBLDG
LIM 303 AVE
BUENDIA 14,929 0.0023% 14,929

94 ESCOLTA
MKT
471 MANILA
MMTAN
HOLD
QUINTIN
SIMEON HOLD
MOVED
PAREDES OUT
ST., -BINONDO, 1006 MANILA 14,929 0.0023% 14,929

94 MOVED
491
ALLVEE OUT
SANUNITED
FERNANDO
INC. STREET, 14,929 0.0023% 14,929

95 BINONDO,
65 MANILA
INDUSTRIA
ACAESOP951317ST. BAGUMBAYAN 14,662 0.0023% 14,662

96 Q.C. MR.
C/O
LUCIO W RAMON FR MEDINA
YAN AND/OR CLARA Y. YAN 14,400 0.0022% 14,400

97 OFFICE OF THE
537 LAFAYETTE
FUNDACION VICE PRESIDENT
ST. GREENHILLS
CONSUELO A. DE EAST,MANDALUYONG CITY 14,277 0.0022% 14,277

98 FORKAPILIGAN
13 CORP.
HELEN SERVICES
ST. QC AY
S. ALVAREZ HOLD 14,179 0.0022% 14,179

99 GEMPESAW
JULIO ST., DAVAO
J. JALANDONI CITY SYLVIA E. JALANDONI
AND/OR 14,073 0.0022% 14,073

100 9B PDCPDERRICK
AMORY BANK CENTRE LEVISTE & RUFINO STS MAKATI
T. NAZARENO 14,019 0.0022% 14,019
GRAND TOTAL 622,936,257
170 FORTUNA STREET,

PASAY CITY

Page 3 of 3
 OUTSTANDING BALANCES FOR A SPECIFIC COMPANY
Company Code - AC0000000000 - AYALA CORPORATION

Business Date: December 27, 2019

BP NAME HOLDING
UPCC SECURITIES CORP. 9,489
A & A SECURITIES, INC. 508,619
ABACUS SECURITIES CORPORATION 378,397
PHILSTOCKS FINANCIAL INC 97,048
A. T. DE CASTRO SECURITIES CORP. 64,983
ALL ASIA SECURITIES MANAGEMENT CORP. 123
ALPHA SECURITIES CORP. 3,718
BA SECURITIES, INC. 3,427
AP SECURITIES INCORPORATED 107,578
ANSALDO, GODINEZ & CO., INC. 109,534
AB CAPITAL SECURITIES, INC. 244,841
SARANGANI SECURITIES, INC. 29,604
SB EQUITIES,INC. 711,056
ASIA PACIFIC CAPITAL EQUITIES & SECURITIES CORP. 588
ASIASEC EQUITIES, INC. 131,030
ASTRA SECURITIES CORPORATION 11,261
CHINA BANK SECURITIES CORPORATION 79,624
MACQUARIE CAPITAL SECURITIES (PHILIPPINES), INC. 233
BELSON SECURITIES, INC. 44,650
BENJAMIN CO CA & CO., INC. 61
JAKA SECURITIES CORP. 15,930
BPI SECURITIES CORPORATION 4,970,490
CAMPOS, LANUZA & COMPANY, INC. 247,235
SINCERE SECURITIES CORPORATION 455
CENTURY SECURITIES CORPORATION 3,001
BDO NOMURA SECURITIES INC 166,052
CTS GLOBAL EQUITY GROUP, INC. 8,236
TRITON SECURITIES CORP. 36,757
CONNELL SECURITIES, INC. 3
IGC SECURITIES INC. 77,815
CUALOPING SECURITIES CORPORATION 14,744
DBP-DAIWA CAPITAL MARKETS PHILPPINES, INC. 22,681
DAVID GO SECURITIES CORP. 10,931
DIVERSIFIED SECURITIES, INC. 19,852
E. CHUA CHIACO SECURITIES, INC. 103,415
EQUITABLE SECURIITES (PHILS.) INC. 8
EAST WEST CAPITAL CORPORATION 16,107
EASTERN SECURITIES DEVELOPMENT CORPORATION 89,693
EQUITIWORLD SECURITIES, INC. 4,085
EVERGREEN STOCK BROKERAGE & SEC., INC. 125,338
FIRST ORIENT SECURITIES, INC. 16,626
FIRST INTEGRATED CAPITAL SECURITIES, INC. 25,678
F. YAP SECURITIES, INC. 18,805
AURORA SECURITIES, INC. 4,921
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JSG SECURITIES, INC. 11,057
GOLDSTAR SECURITIES, INC. 14,566
GUILD SECURITIES, INC. 40,521
HDI SECURITIES, INC. 15,284
H. E. BENNETT SECURITIES, INC. 20,395
HK SECURITIES, INC. 8
I. ACKERMAN & CO., INC. 4,963
I. B. GIMENEZ SECURITIES, INC. 8,424
INVESTORS SECURITIES, INC, 225,388
IMPERIAL,DE GUZMAN,ABALOS & CO.,INC. 108,307
INTRA-INVEST SECURITIES, INC. 41,453
ASIAN CAPITAL EQUITIES, INC. 201
J.M. BARCELON & CO., INC. 4,009
VALUE QUEST SECURITIES CORPORATION 9,150
STRATEGIC EQUITIES CORP. 36,175
LARRGO SECURITIES CO., INC. 5,572
LIPPO SECURITIES, INC. 2
LITONJUA SECURITIES, INC. 4,445
LOPEZ, LOCSIN, LEDESMA & CO., INC. 27,754
LUCKY SECURITIES, INC. 49,490
LUYS SECURITIES COMPANY, INC. 4,986
MANDARIN SECURITIES CORPORATION 74,376
MARIAN SECURITIES, INC. 43,001
MARINO OLONDRIZ Y CIA 1,061
COL Financial Group, Inc. 3,009,652
DA MARKET SECURITIES, INC. 28,363
MERCANTILE SECURITIES CORP. 24,127
MERIDIAN SECURITIES, INC. 9,845
MDR SECURITIES, INC. 9,294
DEUTSCHE REGIS PARTNERS, INC. 487,029
MOUNT PEAK SECURITIES, INC. 552
NEW WORLD SECURITIES CO., INC. 2,144
OPTIMUM SECURITIES CORPORATION 26,173
RCBC SECURITIES, INC. 115,763
PAN ASIA SECURITIES CORP. 13,399
PAPA SECURITIES CORPORATION 436,075
MAYBANK ATR KIM ENG SECURITIES, INC. 270,297
PLATINUM SECURITIES, INC. 102,644
PNB SECURITIES, INC. 83,286
PREMIUM SECURITIES, INC. 11,973
PRYCE SECURITIES, INC. 749
SALISBURY BKT SECURITIES CORPORATION 520
QUALITY INVESTMENTS & SECURITIES CORPORATION 140,551
R & L INVESTMENTS, INC. 174
ALAKOR SECURITIES CORPORATION 1,665
R. COYIUTO SECURITIES, INC. 117,711
REGINA CAPITAL DEVELOPMENT CORPORATION 153,063
R. NUBLA SECURITIES, INC. 300,545
AAA SOUTHEAST EQUITIES, INCORPORATED 17,537
R. S. LIM & CO., INC. 97,324
RTG & COMPANY, INC. 23,175
S.J. ROXAS & CO., INC. 26,231
SECURITIES SPECIALISTS, INC. 31,090
FIDELITY SECURITIES, INC. 7,537
SUMMIT SECURITIES, INC. 58,422
STANDARD SECURITIES CORPORATION 66,739
SUPREME STOCKBROKERS, INC 2,158
TANSENGCO & CO., INC. 49,544
THE FIRST RESOURCES MANAGEMENT & SECURITIES CORP. 187,739
TOWER SECURITIES, INC. 53,360
TRANS-ASIA SECURITIES, INC. 4
APEX PHILIPPINES EQUITIES CORPORATION 1,630
TRENDLINE SECURITIES CORPORATION 134
TRI-STATE SECURITIES, INC. 9,550
UCPB SECURITIES, INC. 83,214
UOB KAY HIAN SECURITIES (PHILS.), INC. 2,110
E.SECURITIES, INC. 822
VENTURE SECURITIES, INC. 9,989
FIRST METRO SECURITIES BROKERAGE CORP. 602,321
WEALTH SECURITIES, INC. 1,800,771
WESTLINK GLOBAL EQUITIES, INC. 5,045
BERNAD SECURITIES, INC. 5,615
WONG SECURITIES CORPORATION 34
YAO & ZIALCITA, INC. 58,794
PHIL-PROGRESS SECURITIES CORPORATION 500
YU & COMPANY, INC. 202,135
BDO SECURITIES CORPORATION 15,558,208
EAGLE EQUITIES, INC. 4,064
GOLDEN TOWER SECURITIES & HOLDINGS, INC. 19,935
SOLAR SECURITIES, INC. 144,338
G.D. TAN & COMPANY, INC. 8,644
CLSA PHILIPPINES, INC. 172,120
PHILIPPINE EQUITY PARTNERS, INC. 163,564
UNICAPITAL SECURITIES INC. 133,426
SunSecurities, Inc. 1,513
COHERCO SECURITIES, INC. 1,100
ARMSTRONG SECURITIES, INC. 1,733
KING'S POWER SECURITIES, INC. 20,318
TIMSON SECURITIES, INC. 3,082
AYALA CORPORATION 1,589
BANCO DE ORO - TRUST BANKING GROUP 6,196,047
BANK OF COMMERCE - TRUST SERVICES GROUP 31,527
COCOPLANS, INC. 1,450
CHINA BANKING CORPORATION - TRUST GROUP 209,748
CITIBANK N.A. 46,044,523
DEUTSCHE BANK MANILA-CLIENTS A/C 61,977,039
DEUTSCHE BANK MANILA-CLIENTS A/C 857,529
GOVERNMENT SERVICE INSURANCE SYSTEM 14,247,300
THE HONGKONG AND SHANGHAI BANKING CORP. LTD. -CLIENTS' ACCT. 58,882,595
THE HONGKONG AND SHANGHAI BANKING CORP. LTD. -CLIENTS' ACCT. 15,130,616
THE HONGKONG & SHANGHAI BANKING CORP. LTD. -OWN ACCOUNT 6,158
THE HONGKONG & SHANGHAI BANKING CORP. LTD. -OWN ACCOUNT 9
LAND BANK OF THE PHILIPPINES 81,000
LAND BANK OF THE PHILIPPINES-TRUST BANKING GROUP 23,840
NATIONAL REINSURANCE CORPORATION OF THE PHILIPPINES 55,000
UCPB GENERAL INSURANCE CO., INC. 13,760
AB CAPITAL & INVESTMENT CORP. - TRUST & INVESTMENT DIV. 69,415
ASIA UNITED BANK - TRUST & INVESTMENT GROUP 36,390
UNITED COCONUT PLANTERS LIFE ASSURANCE CORPORATION 719,250
PNB TRUST BANKING GROUP 658,691
RCBC TRUST & INVESTMENT DIVISION 570,519
RCBC TRUST & INVESTMENT DIVISION - VARIOUS TAXABLE ACCTS 115,541
STANDARD CHARTERED BANK 24,717,374
MBTC - TRUST BANKING GROUP 3,264,815
SOCIAL SECURITY SYSTEM 2,215,106
UNITED COCONUT PLANTERS BANK-TRUST BANKING 159,961
UNITED FUND, INC. 66,420
BDO-TIG SECURITIES SERVICES 54,950
VC SECURITIES CORPORATION 585
DEUTSCHE BANK MANILA-CLIENTS A/C 2
TOTAL 270,726,207