<PAGE>
 
                                                           EXHIBIT 1
                                                           Continued

                                                           SCHEDULE I
                                                           Continued

                                     

<TABLE>
<CAPTION>
 
 
Maturity
Value or
Number of                                                                 Market
Shares               Description                             Cost          Value
- ---------  ---------------------------------              ---------      ---------           
<S>        <C>                                            <C>            <C>
 
           FIXED INCOME FUND
            
           CORPORATE OBLIGATIONS:
 350,000    American General Corporation, 9.625%      
             note, due July 15, 2000                      $  356,517     $  423,973
 
 150,000    Philip Morris Inc., 7.625% note, due
              May 15, 2002                                   151,500        162,987
 300,000    U.S. West Financial, 8.85% term note,
             due September 20, 1999                          282,537        351,417
                                                          ----------     ----------
 
              Total corporate obligations                    790,554        938,377
                                                          ----------     ----------
           U.S. GOVERNMENT AGENCIES:
            U.S. Treasury Notes-
 125,000     6.375% note, due January 15, 1999               128,086        133,847
 400,000     10.50% note, due August 15, 1995                403,625        447,876
 400,000    Federal National Mortgage Association,
             8.15%, due May 11, 1998                         394,750        453,500
                                                           ---------     ----------
              Total U.S. Government agencies                 926,461      1,035,223
                                                          ----------     ----------
           SHORT-TERM INVESTMENTS:
  80,811   NationsBank, Nations Prime                         80,811         80,811
                                                          ----------     ----------
              Total fixed Income Fund Investments         $1,797,826    $ 2,054,411
                                                          ==========    ===========
           ZAPATA COMMON STOCK FUND
         
*213,959   ZAPATA CORPORATION COMMON STOCK                $1,016,595     $  213,959
 
           SHORT-TERM INVESTMENTS:
   4,662    NationsBank, Nations Prime                         4,662          4,662
                                                          ----------     ----------
                                                          $1,021,257     $  218,621
                                                          ==========     ==========
 
 
</TABLE>

       The foregoing notes to financial statements of Zapata Corporation
       Master Profit-Sharing Trust and Zapata Haynie Corporation Profit-
          Sharing/Savings Plan are an integral part of this exhibit.


*Indicates party in interest.

                                     F-22