| Security | CUSIP | Shares | Traded Market Value | % of Holding ↓ |
| EXXON MOBIL COR | 30231G102 | 49,645 | $3,679,687.40 | 5.36% |
| PROCTER & GAMBLE CO | 742718109 | 36,161 | $2,333,830.94 | 3.40% |
| WAL-MART STORES | 931142103 | 31,881 | $1,779,278.61 | 2.59% |
| PFIZER, INC. | 717081103 | 88,526 | $1,567,795.46 | 2.28% |
| INTEL CORP. | 458140100 | 88,323 | $1,413,168.00 | 2.06% |
| JOHNSON & JOHNSON | 478160104 | 22,922 | $1,406,035.48 | 2.05% |
| AT&T INC. | 00206R102 | 51,963 | $1,391,049.51 | 2.02% |
| AMGEN INC | 031162100 | 19,246 | $1,152,642.94 | 1.68% |
| ALTRIA GROUP, INC. | 02209S103 | 56,498 | $1,084,196.62 | 1.58% |
| CONOCOPHILLIPS | 20825C104 | 20,783 | $1,081,131.66 | 1.57% |
| INST CASH MANAGEMENT MMKT | 76628T264 | 1,027,902 | $1,027,902.24 | 1.49% |
| GENERAL MILLS INC | 370334104 | 14,164 | $959,469.36 | 1.39% |
| TRAVELERS COMPANIES, INC. | 89417E109 | 21,903 | $931,972.65 | 1.35% |
| OCCIDENTAL PETROLEUM CORP | 674599105 | 15,724 | $873,310.96 | 1.27% |
| SYSCO CORP | 871829107 | 31,767 | $832,295.40 | 1.21% |
| TELLABS INC | 879664100 | 189,731 | $804,459.44 | 1.17% |
| DISCOVER FINANCIAL SERV | 254709108 | 65,403 | $801,186.75 | 1.16% |
| BANK OF AMERICA CORP. | 060505104 | 33,120 | $800,510.40 | 1.16% |
| VERIZON COMMUNICATIONS | 92343V104 | 26,647 | $790,616.49 | 1.15% |
| CHURCH & DWIGHT INC | 171340102 | 12,709 | $750,974.81 | 1.09% |
| DEAN FOODS | 242370104 | 34,252 | $748,748.72 | 1.09% |
| CA, INC. | 12673P105 | 41,044 | $730,583.20 | 1.06% |
| APACHE CORP | 037411105 | 8,873 | $730,514.09 | 1.06% |
| VISA INC-CLASS A SHARES | 92826C839 | 13,062 | $722,981.70 | 1.05% |
| ALTERA CORP | 021441100 | 41,441 | $719,001.35 | 1.04% |
| COVIDIEN LTD. | G2552X108 | 16,048 | $710,765.92 | 1.03% |
| HOME DEPOT INC | 437076102 | 29,251 | $690,031.09 | 1.00% |
| TERADATA CORP. | 88076W103 | 44,584 | $686,147.76 | 1.00% |
| RAYTHEON | 755111507 | 13,314 | $680,478.54 | 0.99% |
| GENL DYNAMICS | 369550108 | 10,983 | $662,494.56 | 0.96% |
| NATL SEMICOND | 637640103 | 50,240 | $661,660.80 | 0.96% |
| EXPRESS SCRIPTS, INC. | 302182100 | 10,872 | $658,951.92 | 0.96% |
| LOCKHEED MARTIN CORP. | 539830109 | 7,733 | $657,691.65 | 0.95% |
| XILINX INC | 983919101 | 35,462 | $653,210.04 | 0.95% |
| PROGRESSIVE CORP-OHIO | 743315103 | 45,442 | $648,457.34 | 0.94% |
| QLOGIC | 747277101 | 53,379 | $641,615.58 | 0.93% |
| QUEST DIAGNOSTI | 74834L100 | 13,706 | $641,440.80 | 0.93% |
| AXIS | G0692U109 | 22,454 | $639,489.92 | 0.93% |
| CF INDUSTRIES HOLDINGS | 125269100 | 9,892 | $634,967.48 | 0.92% |
| WASTE MANAGEMENT INC | 94106L109 | 20,322 | $634,656.06 | 0.92% |
| KING PHARMACEUT | 495582108 | 71,990 | $632,792.10 | 0.92% |
| APPLIED BIOSYSTEMS-APLERA | 038149100 | 20,449 | $630,442.67 | 0.91% |
| SYMANTEC CORP | 871503108 | 50,066 | $629,830.28 | 0.91% |
| WESTERN UNION CORP. | 959802109 | 40,523 | $618,380.98 | 0.90% |
| LEXMARK INTL GRP INC -CL | 529771107 | 23,882 | $616,872.06 | 0.89% |
| WATSON PHARMACEUTICALS IN | 942683103 | 23,405 | $612,508.85 | 0.89% |
| VORNADO REALTY | 929042109 | 8,634 | $609,128.70 | 0.88% |
| ANADARKO PETRO | 032511107 | 17,211 | $607,548.30 | 0.88% |
| HESS CORP | 42809H107 | 10,074 | $606,555.54 | 0.88% |
| MARVEL TECH GROUP | G5876H105 | 86,267 | $600,418.32 | 0.87% |
| ANNALY CAPITAL MGMT | 035710409 | 42,258 | $587,386.20 | 0.85% |
| LSI LOGIC | 502161102 | 151,069 | $581,615.65 | 0.84% |
| SPECTRA ENERGY CORP | 847560109 | 29,790 | $575,840.70 | 0.83% |
| TORCHMARK CORP | 891027104 | 13,642 | $569,826.34 | 0.83% |
| EXELON CORP | 30161N101 | 10,499 | $569,465.76 | 0.83% |
| AMERISOURCEBERG | 03073E105 | 18,082 | $565,424.14 | 0.82% |
| GOODRICH B F | 382388106 | 15,160 | $554,249.60 | 0.80% |
| EQUITY RES PROP | 29476L107 | 15,831 | $552,976.83 | 0.80% |
| HOST HOTELS & RESORTS INC | 44107P104 | 51,951 | $537,173.34 | 0.78% |
| L-3 COMMUNICATN | 502424104 | 6,581 | $534,179.77 | 0.77% |
| COMPUWARE CORP | 205638109 | 83,440 | $532,347.20 | 0.77% |
| PLUM CREEK TIMBER CO. | 729251108 | 14,079 | $524,865.12 | 0.76% |
| ALLIED WASTE INDUSTRIES | 019589308 | 50,242 | $523,521.64 | 0.76% |
| AETNA, INC.-NEW | 00817Y108 | 21,002 | $522,319.74 | 0.76% |
| DOVER CORP | 260003108 | 16,384 | $520,519.68 | 0.75% |
| TYCO INTERNATIONAL LTD | G9143X208 | 20,299 | $513,158.72 | 0.74% |
| FLUOR CORP | 343412102 | 12,803 | $511,223.79 | 0.74% |
| MASSEY ENERGY CO | 576206106 | 21,356 | $493,110.04 | 0.71% |
| HEALTH CARE REIT INC | 42217K106 | 11,070 | $492,725.70 | 0.71% |
| UNUMPROVIDENT CORP | 91529Y106 | 31,193 | $491,289.75 | 0.71% |
| ROBERT HALF INT'L INC | 770323103 | 25,949 | $489,657.63 | 0.71% |
| AMERIPRISE FINANCIAL INC | 03076C106 | 22,265 | $480,924.00 | 0.70% |
| PRUDENTIAL FINANCIAL INC | 744320102 | 15,428 | $462,840.00 | 0.67% |
| ENSCO INTL | 26874Q100 | 12,144 | $461,593.44 | 0.67% |
| PITNEY-BOWES | 724479100 | 18,108 | $448,716.24 | 0.65% |
| DOMINION RESOURCES INC/VA | 25746U109 | 12,060 | $437,536.80 | 0.63% |
| DONNELLEY R R & SONS | 257867101 | 26,266 | $435,227.62 | 0.63% |
| FAMLY DOLLR STR | 307000109 | 15,948 | $429,160.68 | 0.62% |
| TJX COMPANIES INC | 872540109 | 15,599 | $417,429.24 | 0.60% |
| CUMMINS ENGINE | 231021106 | 15,855 | $409,851.75 | 0.59% |
| JANUS CAPITAL GROUP INC | 47102X105 | 34,840 | $409,021.60 | 0.59% |
| RYDER SYSTEM INC. | 783549108 | 10,289 | $407,650.18 | 0.59% |
| AK STEEL HOLDING CORP | 001547108 | 27,158 | $378,039.36 | 0.55% |
| HASBRO INC | 418056107 | 12,106 | $351,921.42 | 0.51% |
| ROSS STORES | 778296103 | 10,730 | $350,763.70 | 0.51% |
| SEMPRA ENERGY | 816851109 | 8,173 | $348,088.07 | 0.50% |
| MEADWESTVACO CORP | 583334107 | 24,806 | $348,028.18 | 0.50% |
| BIG LOTS, INC. | 089302103 | 14,011 | $342,288.73 | 0.49% |
| CIGNA CORP | 125509109 | 20,868 | $340,148.40 | 0.49% |
| LEGGETT & PLATT INC | 524660107 | 19,536 | $339,144.96 | 0.49% |
| LINCOLN NATL | 534187109 | 19,162 | $330,352.88 | 0.48% |
| THE GAP INC | 364760108 | 25,481 | $329,724.14 | 0.48% |
| NICOR, INC. | 654086107 | 7,002 | $323,562.42 | 0.47% |
| DTE ENERGY CORP | 233331107 | 9,072 | $320,241.60 | 0.46% |
| RALPH LAUREN | 731572103 | 6,744 | $318,114.48 | 0.46% |
| RADIOSHACK CORPORATION | 750438103 | 24,619 | $311,676.54 | 0.45% |
| DISH NETWORK CORP | 25470M109 | 19,326 | $304,191.24 | 0.44% |
| PINNACLE WEST CAPITAL | 723484101 | 9,610 | $304,156.50 | 0.44% |
| LIMITED BRANDS, INC. | 532716107 | 25,312 | $303,237.76 | 0.44% |
| CENTERPOINT ENERGY INC | 15189T107 | 25,203 | $290,338.56 | 0.42% |
| APARTMENT INVT & MGMT - A | 03748R101 | 19,041 | $278,569.83 | 0.40% |
| DR HORTON INC | 23331A109 | 35,162 | $259,495.56 | 0.37% |
| JONES APPAREL GROUP INC | 480074103 | 23,249 | $258,296.39 | 0.37% |
| LIBERTY MEDIA CORP. | 53071M500 | 15,415 | $248,181.50 | 0.36% |
| LENNAR CORP | 526057104 | 31,295 | $242,223.30 | 0.35% |
| SPRINT NEXTEL CORP | 852061100 | 40,250 | $125,982.50 | 0.18% |
| Total Fund Assets | | | $68,569,478.35 | 100.00% |
