The Bessemer Group, Incorporated reported a significant beneficial ownership position in DIAMONDS Trust Series I units, the exchange-traded trust now associated with ticker DIA. In a Schedule 13G dated February 14, 2003, Bessemer disclosed that, as of December 31, 2002, it beneficially owned 4,563,543 units, representing 8.07% of the class. The filing was made under Rule 13d-1(b), the provision typically used by qualified institutional investors reporting passive holdings acquired in the ordinary course of business. Bessemer certified that the units were not acquired or held for the purpose of changing or influencing control of the issuer, and not in connection with any transaction having that purpose or effect. Because this is a Schedule 13G ownership report rather than an insider transaction filing, it does not report purchase or sale prices, transaction dates beyond the reporting event date, or transaction codes. The reported position was aggregated through Bessemer’s trust-company subsidiaries. Bessemer Trust Company, a New Jersey bank, reported beneficial ownership of 1,258,964 units, or 2.23% of the class, including sole voting and dispositive power over 1,146,949 units and shared voting and dispositive power over 112,015 units. Bessemer Trust Company, N.A., a national bank, reported 2,516,874 units, or 4.45%, with sole voting and dispositive power over 2,403,294 units and shared voting and dispositive power over 113,580 units. Bessemer Trust Company of Florida reported 787,705 units, or 1.39%, with sole voting and dispositive power over 701,220 units and shared voting and dispositive power over 86,485 units. At the parent-company level, The Bessemer Group, Incorporated reported no sole voting or dispositive power, but shared voting and dispositive power over the full 4,563,543-unit aggregate position. The filing explains that Bessemer Group is the parent of the reporting subsidiaries, each of which manages accounts for others. The securities were held in trusts for clients or in managed accounts, rather than disclosed as a proprietary activist position. The filing matters because it shows that Bessemer-affiliated fiduciary and investment-management entities collectively crossed the 5% reporting threshold in DIAMONDS Trust Series I units, with an 8.07% beneficial ownership stake as of year-end 2002. The disclosure signals a sizable institutional position in the ETF trust, while also emphasizing that the holding was passive and made in the ordinary course of Bessemer’s trust and asset-management business.