| Security | CUSIP | Shares | Traded Market Value | % of Holding ↓ |
| FNCL 929408 5 05/01/38 | 31412MR59 | 25,808,997 | $24,457,788.39 | 6.30% |
| US T-NOTES 4.00 08/31/09 | 912828HB9 | 23,064,000 | $23,557,707.98 | 6.07% |
| INST CASH MANAGEMENT MMKT | 76628T264 | 21,854,683 | $21,854,683.35 | 5.63% |
| US T-NOTE 4.375 12/15/10 | 912828EQ9 | 18,648,000 | $19,784,371.82 | 5.10% |
| UNITED STATES TREAS BDS | 912810EV6 | 14,482,000 | $18,038,011.65 | 4.65% |
| GNSF TBA 6.50% 11/19/38 | 01N0626B3 | 16,162,000 | $16,333,721.25 | 4.21% |
| US T-BOND 8.125% 02/15/38 | 912810PW2 | 16,225,000 | $16,273,172.03 | 4.19% |
| GNSF 782331 6 04/15/38 | 36241KSU3 | 15,932,837 | $15,930,013.14 | 4.10% |
| GNSF 6.5 2008 GN 10/15/38 | 36241KVG0 | 12,294,000 | $12,438,614.32 | 3.20% |
| WI T-NOTE 1.375 07/15/18 | 912828JE1 | 13,662,000 | $11,869,837.87 | 3.06% |
| WAL-MART 6.50% 08/15/37 | 931142CK7 | 4,505,000 | $4,043,710.53 | 1.04% |
| UNION PAC 7.875 01/15/19 | 907818DB1 | 3,921,000 | $3,880,880.33 | 1.00% |
| IBM CORP 7.625 10/15/18 | 459200GM7 | 3,740,000 | $3,870,039.80 | 0.99% |
| GE CORP 5.00 02/01/13 | 369604AY9 | 3,672,000 | $3,463,757.21 | 0.89% |
| BANK OF AME 5.65 05/01/18 | 06051GDX4 | 3,995,000 | $3,433,826.35 | 0.88% |
| CITIGROUP 6.125 05/15/18 | 172967ES6 | 3,938,000 | $3,373,625.53 | 0.87% |
| JPMORGAN CHASE 6 01/15/18 | 46625HGY0 | 3,721,000 | $3,338,042.12 | 0.86% |
| BNK AMRICA 7.40 01/15/11 | 060505AG9 | 3,339,000 | $3,285,786.36 | 0.84% |
| E.ON INTL 5.8% 04/30/18 | 268789AA2 | 3,659,000 | $3,123,666.35 | 0.80% |
| TWC 5.85 05/01/17 | 88732JAH1 | 3,560,000 | $2,916,416.08 | 0.75% |
| T-NOTE 4.0% 08/15/18 | 912828JH4 | 2,740,000 | $2,743,638.72 | 0.70% |
| ABBOTT LAB 5.60% 11/30/17 | 002819AB6 | 2,955,000 | $2,721,463.40 | 0.70% |
| GOLDMAN 6.15 04/01/18 | 38141GFM1 | 3,103,000 | $2,570,503.48 | 0.66% |
| BSCMS 2001 6.48 02/15/35 | 07383FFP8 | 2,540,000 | $2,466,697.38 | 0.63% |
| WELLS FRGO 4.375 01/31/13 | 949746NY3 | 2,640,000 | $2,437,390.56 | 0.62% |
| VODAFONE 5.500 06/15/11 | 92857WAM2 | 2,464,000 | $2,353,445.25 | 0.60% |
| AEIT 08-2 A 4.02 01/18/11 | 02586GAR3 | 2,428,000 | $2,336,787.32 | 0.60% |
| MSDWC 2000 7.459 09/03/15 | 68242BAB6 | 2,026,000 | $2,162,342.10 | 0.55% |
| GREENVILLE 5.5 12/01/28 | 396066AW2 | 1,965,000 | $2,160,026.25 | 0.55% |
| INDIANAPOLIS BBK 07 01 33 | 4552805Q6 | 2,005,000 | $2,151,806.10 | 0.55% |
| NORTHERN 5.20 11/09/12 | 665859AH7 | 2,158,000 | $2,115,116.22 | 0.54% |
| ASTRAZENECA 6.45 09/15/37 | 046353AD0 | 2,430,000 | $2,080,529.55 | 0.53% |
| PRAXAIR 4.625 03/30/15 | 74005PAR5 | 2,311,000 | $2,057,261.44 | 0.53% |
| GLAXOSMITH 5.65 05/15/18 | 377372AD9 | 2,306,000 | $2,043,597.95 | 0.52% |
| GECMC 00-1 6.496 01/15/33 | 36158YAB5 | 2,067,672 | $2,021,992.29 | 0.52% |
| ORACLE CORP 5.75 04/15/18 | 68389XAC9 | 2,178,000 | $1,905,813.16 | 0.49% |
| SANSCD 5 08/15/31 | 796269PR3 | 1,800,000 | $1,905,246.00 | 0.49% |
| SABMILLER 6.20 07/01/11 | 78572MAC9 | 1,853,000 | $1,881,664.06 | 0.48% |
| WESFARMERS 6.998 04/10/13 | 950840AA6 | 1,917,000 | $1,881,278.62 | 0.48% |
| LAZARD LLC 7.125 05/15/15 | 52107QAC9 | 2,326,000 | $1,829,559.49 | 0.47% |
| LA, UNIF SD 5.5 07/01/21 | 544644JC2 | 1,730,000 | $1,823,748.70 | 0.47% |
| BNK AMRICA 5.375 09/11/12 | 060505DK7 | 1,920,000 | $1,815,348.48 | 0.46% |
| JPMCC 7.371 08/15/32 | 617059JH4 | 1,806,849 | $1,801,942.47 | 0.46% |
| BANK OF NY 4.95 11/01/12 | 06406HBE8 | 1,848,000 | $1,783,203.58 | 0.46% |
| CISCO SYS 5.50% 02/22/16 | 17275RAC6 | 1,913,000 | $1,773,232.39 | 0.45% |
| WELLS FARG 5.625 12/11/17 | 949746NX5 | 1,996,000 | $1,760,853.24 | 0.45% |
| NYSE EURONEX 4.8 06/28/13 | 629491AA9 | 1,863,000 | $1,746,922.06 | 0.45% |
| BERKSHIRE 4.60 05/15/13 | 084664BB6 | 1,800,000 | $1,740,996.00 | 0.44% |
| MSDWC 01-TO 6.66 02/15/33 | 61746WGB0 | 1,774,428 | $1,739,500.07 | 0.44% |
| FND AMRCN 5.875 05/15/13 | 36077BAA5 | 2,245,000 | $1,686,913.21 | 0.43% |
| CNH 2007-C 5.21 12/15/11 | 12620HAD9 | 1,691,000 | $1,681,843.07 | 0.43% |
| CASPWR 5.25 05/01/20 | 13066YJN0 | 1,540,000 | $1,672,470.80 | 0.43% |
| SOUTHERN 5.75% 03/15/14 | 842400FK4 | 1,664,000 | $1,643,679.23 | 0.42% |
| AT&T INC. 4.95 01/15/13 | 00206RAF9 | 1,738,000 | $1,609,160.32 | 0.41% |
| TESCO PLC 5.5% 11/15/17 | 881575AA2 | 2,060,000 | $1,595,766.64 | 0.41% |
| METRO TRANS 5.25 11/15/32 | 59259RRF3 | 1,440,000 | $1,578,110.40 | 0.40% |
| CME GROUP 5.4 08/01/13 | 12572QAA3 | 1,648,000 | $1,555,708.70 | 0.40% |
| COVIDIEN 6.00 10/15/17 | 22303QAG5 | 1,760,000 | $1,534,683.04 | 0.39% |
| PEPSICO 7.9 11/01/18 | 713448BJ6 | 1,438,000 | $1,517,107.26 | 0.39% |
| CINCI SCH DIS 5% 12/01/31 | 172252XV5 | 1,385,000 | $1,494,996.70 | 0.38% |
| E.I. DUPONT DE 5 07/15/13 | 263534BU2 | 1,537,000 | $1,467,566.03 | 0.37% |
| UNIV TEX 4.75% 07/01/30 | 9151152S7 | 1,370,000 | $1,455,104.40 | 0.37% |
| TIAA GBL 5.125% 10/10/12 | 87244EAC6 | 1,515,000 | $1,451,242.74 | 0.37% |
| GEN ELECT 5.45% 01/15/13 | 36962GZY3 | 1,563,000 | $1,444,551.17 | 0.37% |
| N. CAROLINA 5.00 03/01/18 | 658256GJ5 | 1,295,000 | $1,385,986.70 | 0.35% |
| VERIZON COM 8.95 03/01/39 | 92343VAR5 | 1,422,000 | $1,378,247.90 | 0.35% |
| ASC 1996-MD6 A7 11/13/29 | 045424DF2 | 1,241,412 | $1,358,164.73 | 0.35% |
| SBC COMM 5.10 09/15/14 | 78387GAP8 | 1,548,000 | $1,352,010.82 | 0.34% |
| ENERGY TRAN 7.50 07/01/38 | 29273RAJ8 | 1,774,000 | $1,346,787.09 | 0.34% |
| BOEING CO 5.125 02/15/13 | 097023AT2 | 1,419,000 | $1,345,985.36 | 0.34% |
| AIG SUNAMER 6.30 05/10/11 | 00138QAA5 | 1,708,000 | $1,344,482.94 | 0.34% |
| MERRILL LYN 6.15 04/25/13 | 59018YN56 | 1,423,000 | $1,313,003.52 | 0.33% |
| ARCELORM 6.125% 06/01/18 | 03938LAD6 | 1,895,000 | $1,305,753.54 | 0.33% |
| VEOLIA 6.00 06/01/18 | 92334NAB9 | 1,582,000 | $1,283,329.47 | 0.33% |
| CREDIT SUI 6.125 11/15/11 | 22541LAB9 | 1,320,000 | $1,262,011.08 | 0.32% |
| LINCOLN NEB 5.25 09/01/17 | 534272UZ0 | 1,180,000 | $1,256,711.80 | 0.32% |
| CENTERPOINT VRN 02/01/23 | 15200MAB3 | 1,621,000 | $1,248,026.87 | 0.32% |
| CENTERPOINT 5.17 08/01/19 | 15200DAD9 | 1,353,000 | $1,246,573.02 | 0.32% |
| COPAR 06-2 4.94 07/15/12 | 14042CAD6 | 1,271,000 | $1,238,514.00 | 0.31% |
| KRAFT FOOD 6.125 08/23/18 | 50075NAV6 | 1,440,000 | $1,225,077.12 | 0.31% |
| TRIBOROUGH 5.00 01/01/32 | 89602NGZ1 | 1,140,000 | $1,211,535.00 | 0.31% |
| PASTRN 5.125 07/15/23 | 709222AX1 | 1,115,000 | $1,192,748.95 | 0.30% |
| HAROT 5.11% 04/15/12 | 43812RAD0 | 1,210,000 | $1,186,107.10 | 0.30% |
| COLONIAL 6.375 08/01/37 | 195869AL6 | 1,680,000 | $1,182,956.88 | 0.30% |
| WALGREEN 4.875 08/01/13 | 931422AD1 | 1,200,000 | $1,172,372.40 | 0.30% |
| VERIZON 5.55 02/15/16 | 92343VAC8 | 1,337,000 | $1,166,545.87 | 0.30% |
| VERIZON 5.25% 04/15/13 | 92343VAN4 | 1,266,000 | $1,163,616.05 | 0.30% |
| EXELON CORP 6.20 10/01/17 | 30161MAE3 | 1,441,000 | $1,142,153.89 | 0.29% |
| INTL LEASE 6.375 03/25/13 | 45974VB72 | 1,732,000 | $1,132,643.13 | 0.29% |
| LB-UBS 05 6.51 12/15/26 | 52108HCB8 | 1,152,139 | $1,130,259.89 | 0.29% |
| CTRPT ENRG 7.875 04/01/13 | 15189YAB2 | 1,191,000 | $1,121,731.44 | 0.28% |
| ROCKIES EX 6.85 07/15/18 | 77340RAC1 | 1,316,000 | $1,117,832.77 | 0.28% |
| KELLOGG CO 4.25% 03/06/13 | 487836BA5 | 1,190,000 | $1,099,871.78 | 0.28% |
| TRANS-CANADA 6.2 10/15/37 | 89352HAD1 | 1,610,000 | $1,099,377.23 | 0.28% |
| AUSTIN WTR 5.25 05/15/22 | 052476KB3 | 1,015,000 | $1,076,955.60 | 0.27% |
| PCFC GS&ELC 6.05 03/01/34 | 694308GE1 | 1,411,000 | $1,076,247.31 | 0.27% |
| ENEL FINANCE 6.8 09/15/37 | 29268BAC5 | 1,497,000 | $1,061,374.50 | 0.27% |
| XEROX 6.35 05/15/18 | 984121BW2 | 1,417,000 | $1,038,377.60 | 0.26% |
| MERRILL LYN 6.05 08/15/12 | 59018YJ36 | 1,119,000 | $1,018,576.46 | 0.26% |
| NEW JERSEY 5.00 06/15/18 | 6459162C0 | 955,000 | $1,017,523.85 | 0.26% |
| TRANSOCEAN 6.80 03/15/38 | 893830AT6 | 1,284,000 | $997,131.29 | 0.25% |
| DAIMLER CHR 8.50 01/18/31 | 233835AQ0 | 1,268,000 | $995,920.17 | 0.25% |
| GMACC 6.465% 04/15/34 | 361849QE5 | 1,014,590 | $988,064.80 | 0.25% |
| INTL PAPER 7.95 06/15/18 | 460146CA9 | 1,197,000 | $969,455.09 | 0.25% |
| INTL LEASE 5.625 09/15/10 | 45974VB56 | 1,377,000 | $969,376.33 | 0.25% |
| POTASH 5.875% 12/01/36 | 73755LAD9 | 1,363,000 | $965,453.79 | 0.24% |
| MIDAMER 6.125% 04/01/36 | 59562VAM9 | 1,303,000 | $959,125.27 | 0.24% |
| ERAC USA 5.80 10/15/12 | 26882PBD3 | 1,225,000 | $957,833.63 | 0.24% |
| SCHERING 6.55 09/15/37 | 806605AH4 | 1,184,000 | $944,472.06 | 0.24% |
| LAFARGE SA 6.15 07/15/11 | 505861AA2 | 993,000 | $940,687.77 | 0.24% |
| RIO TINTO 5.875% 07/15/13 | 767201AE6 | 1,101,000 | $939,494.31 | 0.24% |
| GE 5.25 12/06/17 | 369604BC6 | 1,107,000 | $926,614.35 | 0.23% |
| CCMSC 00-3 7.319 10/15/32 | 161505GM8 | 916,037 | $908,620.06 | 0.23% |
| DIAGEO CAP 5.2% 01/30/13 | 25243YAL3 | 943,000 | $879,220.20 | 0.22% |
| AIR PROD. 4.15 02/01/13 | 009163AA4 | 967,000 | $874,895.18 | 0.22% |
| PECO 00-A 7.65 03/01/10 | 705220AL5 | 839,000 | $856,279.71 | 0.22% |
| AMERICAN EX 6.15 08/28/17 | 025816AX7 | 1,189,000 | $850,812.73 | 0.21% |
| CLARK CNTY 5.75 12/01/15 | 181144PK6 | 770,000 | $835,611.70 | 0.21% |
| ROGERS 7.50 03/15/15 | 77531QAM0 | 890,000 | $835,098.57 | 0.21% |
| RIO TINTO 7.125% 07/15/28 | 767201AD8 | 1,140,000 | $833,446.02 | 0.21% |
| CFMSI VRN 01/25/33 | 17306UAQ1 | 951,389 | $828,622.93 | 0.21% |
| WAMU 03-S7 4.5 08/25/18 | 92922FBK3 | 887,571 | $817,952.97 | 0.21% |
| SIEMENS 6.125% 08/17/26 | 826200AD9 | 1,006,000 | $815,710.07 | 0.21% |
| ERAC USA 5.60 05/01/15 | 26882PAS1 | 1,148,000 | $809,989.77 | 0.20% |
| CNH 08-A A4A 08/15/14 | 12620LAF5 | 865,000 | $789,202.73 | 0.20% |
| CHICAGO BRD 5.00 12/01/31 | 167501F75 | 730,000 | $774,595.70 | 0.19% |
| WASHINGTON 5.00 06/25/18 | 9292273J3 | 814,521 | $771,758.82 | 0.19% |
| BONY MELLON 4.5% 04/01/13 | 06406HBJ7 | 814,000 | $763,728.17 | 0.19% |
| AT & T INC 6.45 06/15/34 | 78387GAM5 | 947,000 | $753,196.45 | 0.19% |
| HEWLETT PACK 4.5 03/01/13 | 428236AQ6 | 804,000 | $747,900.90 | 0.19% |
| NEVADA PWR 6.75 07/01/37 | 641423BU1 | 974,000 | $737,497.22 | 0.19% |
| TACOMA WASH 5.75 01/01/18 | 873519HR6 | 680,000 | $729,748.80 | 0.18% |
| CCCIT 4.15 07/07/17 | 17305EBU8 | 1,000,000 | $725,852.90 | 0.18% |
| CSFB 6.505 02/15/34 | 22540AJ74 | 742,201 | $724,722.04 | 0.18% |
| CWHL 04-J1 4.50% 01/25/19 | 12669FMP5 | 780,755 | $719,515.28 | 0.18% |
| FHLMC 4.05 11/17/09 | 3128X2WB7 | 700,000 | $706,766.20 | 0.18% |
| XEROX CORP 5.50 05/15/12 | 984121BS1 | 908,000 | $705,693.06 | 0.18% |
| CRD SUISSE 6.50 01/15/12 | 22541LAC7 | 692,000 | $674,141.56 | 0.17% |
| COMCAST 6.45 03/15/37 | 20030NAM3 | 856,000 | $657,382.32 | 0.16% |
| PUBLIC SERV 6.25 09/01/37 | 744448BZ3 | 780,000 | $656,931.60 | 0.16% |
| ONCOR ELEC 7.00 05/01/32 | 68233DAT4 | 856,000 | $639,918.21 | 0.16% |
| KIMBERLY 7.50 11/01/18 | 494368BD4 | 629,000 | $638,707.36 | 0.16% |
| HSBC HOLD 7.625 05/17/32 | 404280AF6 | 774,000 | $636,819.34 | 0.16% |
| CALIFORNIA 5.5 05/01/16 | 13066YEA3 | 580,000 | $634,682.40 | 0.16% |
| JANUS CAP 5.875 09/15/11 | 47102XAD7 | 783,000 | $634,009.98 | 0.16% |
| APACHE CORP 6.0% 01/15/37 | 037411AR6 | 823,000 | $627,877.40 | 0.16% |
| ENTERPRISE 5.75% 03/01/35 | 293791AT6 | 993,000 | $614,914.26 | 0.15% |
| WEATHERFORD 6.50 08/01/36 | 947075AB3 | 916,000 | $609,346.10 | 0.15% |
| WISCONSIN 6.375 08/15/37 | 976826BE6 | 793,000 | $605,418.23 | 0.15% |
| MASS. 4.4% 03/15/15 | 575800AE7 | 627,000 | $598,638.28 | 0.15% |
| TIME WARNER 6.50 11/15/36 | 887317AD7 | 840,000 | $597,024.12 | 0.15% |
| ABX FIN 6.35% 10/15/36 | 003876AB5 | 873,000 | $581,532.36 | 0.15% |
| CLOROX CO. 5.45 10/15/12 | 189054AP4 | 609,000 | $563,024.15 | 0.14% |
| GECMC 4.82 01/10/38 | 36828QAD8 | 593,000 | $519,415.10 | 0.13% |
| NEWS AMER 6.20 12/15/34 | 652482BJ8 | 679,000 | $512,702.72 | 0.13% |
| TRANSOCEAN 6.00 03/15/18 | 893830AS8 | 599,000 | $512,454.08 | 0.13% |
| CAMERON IN 6.375 07/15/18 | 13342BAC9 | 615,000 | $509,109.92 | 0.13% |
| EL PASO NAT 5.95 04/15/17 | 283695BP8 | 650,000 | $502,710.65 | 0.12% |
| MARTIN MAR 6.25% 05/01/37 | 573284AJ5 | 836,000 | $461,826.46 | 0.11% |
| TEVA PHARM 6.15% 02/01/36 | 88163VAD1 | 613,000 | $443,222.91 | 0.11% |
| INT'L LEASE 5.25 01/10/13 | 45974VZX9 | 679,000 | $443,006.08 | 0.11% |
| NEVADA PWR 5.875 01/15/15 | 641423BK3 | 456,000 | $394,583.64 | 0.10% |
| WAL-MART 5.25 09/01/35 | 931142CB7 | 492,000 | $368,901.11 | 0.09% |
| TRANSCONT 6.05 06/15/18 | 893570BY6 | 460,000 | $367,967.80 | 0.09% |
| THOMSN REUT 5.95 07/15/13 | 884903BA2 | 403,000 | $365,597.97 | 0.09% |
| SOUTHERN NA 5.90 04/01/17 | 843452BC6 | 445,000 | $343,200.02 | 0.08% |
| INTL LEASE 5.625 09/20/13 | 45974VA81 | 456,000 | $291,828.14 | 0.07% |
| INTUIT 5.75% 03/15/17 | 461202AB9 | 373,000 | $289,318.57 | 0.07% |
| PEGTF 01-1 6.89% 12/15/17 | 69361YAH6 | 295,000 | $285,709.89 | 0.07% |
| NUCOR CORP 5.85 06/01/18 | 670346AK1 | 321,000 | $279,502.73 | 0.07% |
| BRUNSWICK CDS 03/20/17 | CD1C8747B | -740,000 | $255,085.70 | 0.06% |
| VIACOM INC 6.125 10/05/17 | 92553PAB8 | 325,000 | $252,058.95 | 0.06% |
| GANNETT CO CDS 06/20/17 | CDX39AB97 | -740,000 | $165,260.07 | 0.04% |
| SIMON PROP CDS 09/20/13 | CDX8AAG87 | -1,100,000 | $141,099.89 | 0.03% |
| AUSTRIA CDS 11/20/13 | CDX0F77EA | 10,505,000 | $120,154.28 | 0.03% |
| GNMA 780758 7.00 04/15/13 | 36225AZX1 | 112,455 | $118,804.07 | 0.03% |
| CENTEX CORP CDS 09/20/17 | CD1G7543A | -740,000 | $100,983.54 | 0.02% |
| GNMA 494081 7.00 08/15/14 | 36210J2N7 | 83,181 | $87,753.48 | 0.02% |
| BRUNSWICK CDS 12/20/13 | CD1C8747H | -360,000 | $81,011.91 | 0.02% |
| MARRIOTT INTL CDS 9/20/13 | CDX5C8A93 | -1,100,000 | $71,001.02 | 0.01% |
| MASCO CORP CDS 06/20/13 | CD5CB9E1A | -780,000 | $68,163.57 | 0.01% |
| GNMA 544525 7.00 05/15/31 | 36212U4J7 | 47,407 | $48,498.63 | 0.01% |
| GANNET CO CDS 09/20/13 | CD39AB97C | -360,000 | $32,631.31 | 0.00% |
| FEDEX CORP CDS 09/20/13 | CDX3E56A5 | -1,100,000 | $22,228.81 | 0.00% |
| MASCO CORP. CDS 09/20/13 | CD5CB9EIC | -320,000 | $16,032.57 | 0.00% |
| CAPITAL ONE CDS 06/20/13 | CDX1F445B | -435,000 | $12,295.77 | 0.00% |
| CENTEX CORP CDS 09/20/13 | CD1G7543C | -360,000 | $10,287.04 | 0.00% |
| TOLL BROS CDS 06/20/13 | CD8GHDBFA | -780,000 | $9,255.45 | 0.00% |
| SWEDEN CDS 12/20/13 | CDX8F7220 | 2,290,000 | $7,917.32 | 0.00% |
| DENMARK CDS 12/20/13 | CDXKPBDCX | 2,290,000 | $934.06 | 0.00% |
| PAYB R F 1.5YR EUR 4.288% | IRS10108E | -1,099,719 | $0.00 | 0.00% |
| PAYB R F 1.5YR EUR 4.306% | IRS10148 | -998,618 | $0.00 | 0.00% |
| PAYB R FIXED 2YR UK 5.16 | IRS09158G | -839,661 | $0.00 | 0.00% |
| PAYB R FIXED 1YR YR FWD | IRS08118 | -2,600,000 | $0.00 | 0.00% |
| PAYB R FIXED 2 YR SE 3.50 | IRS10278B | -7,190,804 | $0.00 | 0.00% |
| PAYB R FIXED 2YR NZ 7.24 | IRS0811NZ | -1,600,000 | $0.00 | 0.00% |
| PAYB R F 2YR UK (4.88%) | IRS10148A | -600,797 | $0.00 | 0.00% |
| PAYB R FIXED 2YR NZD 7.27 | IRS09028 | -1,560,199 | $0.00 | 0.00% |
| PAYB R FIXED 2YR SEK 3.50 | IRS10278A | -182,127,825 | $0.00 | 0.00% |
| TOLL BROS. CDS 09/20/13 | CD8GHDBFB | -320,000 | -$149.31 | -0.00% |
| RECV R FIXED 2YR UK 4.29 | IRS10298G | 1,288,253 | -$343.85 | -0.00% |
| RECV R FIXED 2YR SE 3.48 | IRS10278 | 7,030,986 | -$1,939.93 | -0.00% |
| UK 5 YR CDS 12/20/13 | CDX9A17DE | 2,290,000 | -$14,588.80 | -0.00% |
| CAPITAL ONE CDS 9/20/13 | CD1F445BA | -665,000 | -$21,121.30 | -0.00% |
| CDX NA HY 11 12/20/13 | CDX11108C | -5,315,000 | -$1,005,438.55 | -0.25% |
| CDX NA HY 11 12/20/13 | CDX11108A | -5,315,000 | -$1,005,438.55 | -0.25% |
| CDX NA HY 11 12/20/13 | CDX11108B | -5,315,000 | -$1,005,438.55 | -0.25% |
| CDX NA HY 11 12/20/13 | CDX111010 | -5,315,000 | -$1,005,438.55 | -0.25% |
| Total Long Positions | | | $391,600,906.10 | |
| Total Short Positions | | | -$4,059,897.39 | |
| Total Fund Assets | | | $387,541,008.71 | 100.00% |
