| Security | CUSIP | Shares | Traded Market Value | % of Holding ↓ |
| SCOIETE GENERALE TIME DEP | 9926539F4 | 115,157,304 | $115,157,304.08 | 3.27% |
| BANC OF AMER VRN 12/31/49 | 992008FT4 | 105,000,000 | $105,000,000.00 | 2.98% |
| FHLMC DN 01/12/09 | 313397AM3 | 100,000,000 | $99,580,000.00 | 2.83% |
| BNP PARIBAS TIME DEPOSIT | 9926549F2 | 90,147,688 | $90,147,688.61 | 2.56% |
| BARCLAY TIME DEPOSIT | 991017930 | 62,789,486 | $62,789,486.70 | 1.78% |
| UNITED TECH CP 11/03/08 | 91302CL39 | 50,000,000 | $49,999,500.00 | 1.42% |
| ROYAL BANK 2.84 11/17/08 | 78010GGR3 | 50,000,000 | $49,984,397.18 | 1.42% |
| FHLB DISOUNT NT 01/05/09 | 313385AE6 | 50,000,000 | $49,792,361.11 | 1.41% |
| TOYOTA MTR VRN 02/12/09 | 89233PR73 | 40,000,000 | $40,000,000.00 | 1.13% |
| CATERPILLAR CP 11/13/08 | 14912DLD9 | 40,000,000 | $39,976,666.67 | 1.13% |
| SANTAND CENT CP 11/20/08 | 80281JLL2 | 40,000,000 | $39,930,544.44 | 1.13% |
| BMW US CAPTL CP 11/03/08 | 0556C2L35 | 38,069,000 | $38,068,471.27 | 1.08% |
| NEW YORK LIF VRN 05/13/09 | 64952WAN3 | 38,000,000 | $38,000,000.00 | 1.08% |
| TORONTO DOM CP 11/03/08 | 89116EL35 | 35,000,000 | $34,997,997.22 | 0.99% |
| RABOBANK NED VRN 01/15/09 | 74977RAP9 | 35,000,000 | $34,997,851.42 | 0.99% |
| PNC BANK NA VRN 12/29/08 | 69347KHY1 | 35,000,000 | $34,983,996.53 | 0.99% |
| GEN ELECTRIC CP 11/19/08 | 36960LLK9 | 35,000,000 | $34,974,625.00 | 0.99% |
| JOHN DEERE CP 11/21/08 | 24422LLM3 | 35,000,000 | $34,960,138.89 | 0.99% |
| FNM DISCOUNT NT 01/14/09 | 313589AP8 | 35,000,000 | $34,846,038.89 | 0.99% |
| COLGATE PAL CP 11/18/08 | 19416ELJ4 | 34,850,000 | $34,831,074.51 | 0.99% |
| CBA DE FIN CP 11/04/08 | 12478JL46 | 34,500,000 | $34,492,812.50 | 0.98% |
| ALLIANZ FIN CP 11/04/08 | 0188E2L43 | 32,000,000 | $31,997,733.34 | 0.91% |
| EKSPORTFINA VRN 08/13/09 | 28264QK29 | 30,000,000 | $30,000,000.00 | 0.85% |
| TOYOTA MOTO VRN 06/02/09 | 89233PW51 | 30,000,000 | $30,000,000.00 | 0.85% |
| WELLS FARGO VRN 08/19/09 | 94974Q6K8 | 30,000,000 | $30,000,000.00 | 0.85% |
| JOHN DEERE VRN 12/12/08 | 24422EQG7 | 30,000,000 | $29,999,662.60 | 0.85% |
| CATERP FIN CP 11/04/08 | 14912DL49 | 30,000,000 | $29,995,500.00 | 0.85% |
| GEN ELEC CAP CP 11/04/08 | 36959RL45 | 30,000,000 | $29,993,750.00 | 0.85% |
| CONOCOPHILLPS CP 11/17/08 | 2082M2LH8 | 30,000,000 | $29,973,333.33 | 0.85% |
| EURO INVEST CP 11 19 08 | 29878RLK2 | 30,000,000 | $29,966,475.00 | 0.85% |
| COMMOM W BK VRN 06/04/09 | 2027A0CF4 | 29,000,000 | $29,000,000.00 | 0.82% |
| NEW YORK VRN 09/04/09 | 64952WAQ6 | 29,000,000 | $29,000,000.00 | 0.82% |
| BP AMI LEAS VRN 06/26/09 | 05569AAA7 | 28,000,000 | $28,000,911.82 | 0.79% |
| CME GROUP INC CP 11 05 08 | 12572JL58 | 28,000,000 | $27,992,782.22 | 0.79% |
| CONOCOPHILLPS CP 11/06/08 | 2082M2L62 | 28,000,000 | $27,992,611.11 | 0.79% |
| PACCAR FINL CP 11/10/08 | 69372ALA8 | 28,000,000 | $27,986,325.00 | 0.79% |
| FHLB DISCOUNT 11/18/08 | 313384P94 | 26,965,000 | $26,949,719.83 | 0.76% |
| JOHN DEERE CA CP 11/07/08 | 24422LL76 | 25,975,000 | $25,965,692.29 | 0.73% |
| CME GROUP INC CP 11/19/08 | 12572JLK5 | 25,875,000 | $25,841,362.50 | 0.73% |
| BRANCH BKG 2.735 11/03/08 | 10513H3Y5 | 25,000,000 | $25,000,000.00 | 0.71% |
| PROC & GAMB VRN 02/19/09 | 742732AA8 | 25,000,000 | $25,000,000.00 | 0.71% |
| WELLS FARG 2.50 11/03/08 | 94985HAJ3 | 25,000,000 | $25,000,000.00 | 0.71% |
| US BANK 2.64 11/21/08 | 90331JHU6 | 25,000,000 | $25,000,000.00 | 0.71% |
| US BANK NA 2.89 01/20/09 | 90331JJL4 | 25,000,000 | $25,000,000.00 | 0.71% |
| CME GROUP CP 11/03/08 | 12572JL33 | 25,000,000 | $24,999,305.55 | 0.71% |
| AMER HONDA CP 11/18/08 | 02665JLJ7 | 25,000,000 | $24,974,618.06 | 0.71% |
| ALABAMA POWER CP 11/25/08 | 01039LLR5 | 25,000,000 | $24,972,500.00 | 0.71% |
| SANTAND CEN CP 11/28/08 | 80281JLU2 | 25,000,000 | $24,953,125.00 | 0.70% |
| BASF SE CP 11/04/08 | 05526LL47 | 23,430,000 | $23,425,997.37 | 0.66% |
| JOHNSON&JOHNS CP 11/17/08 | 47816FLH2 | 23,000,000 | $22,994,888.88 | 0.65% |
| FHLB DISCOUNT NO 11/14/08 | 313384P52 | 22,500,000 | $22,490,493.75 | 0.63% |
| COLGATE PALM CP 11/24/08 | 19416ELQ8 | 22,400,000 | $22,387,120.00 | 0.63% |
| NOVARTIS FIN CP 11/14/08 | 6698M4LE0 | 22,350,000 | $22,336,146.88 | 0.63% |
| CATRPILLR INC CP 11 07 08 | 14912PL75 | 21,000,000 | $20,992,650.00 | 0.59% |
| GEN ELECT 3.125 04/01/09 | 36962GH49 | 20,000,000 | $20,032,535.37 | 0.56% |
| HSBC BANK 3.04 02/27/09 | 40428AXJ1 | 20,000,000 | $20,001,291.18 | 0.56% |
| WESPAC BAN 3.455 06/18/09 | 9612C4AE1 | 20,000,000 | $20,001,229.86 | 0.56% |
| TORONTO DOM 2.93 02/06/09 | 8911A3QU9 | 20,000,000 | $20,000,530.96 | 0.56% |
| NORDEA BK 2.96 01/08/09 | 65556E6J4 | 20,000,000 | $20,000,372.17 | 0.56% |
| ROYAL BK 2.96 11/03/08 | 78010GET1 | 20,000,000 | $20,000,192.93 | 0.56% |
| TORONTO DO 1.51 12/01/08 | 8911A3VL3 | 20,000,000 | $20,000,166.44 | 0.56% |
| CAN IMP BK 2.83 11/26/08 | 13606XAA6 | 20,000,000 | $20,000,137.91 | 0.56% |
| TORONTO 2.83 11/20/08 | 8911A3NB4 | 20,000,000 | $20,000,104.29 | 0.56% |
| ROYAL BANK 2.69 11/14/08 | 78009JJT3 | 20,000,000 | $20,000,071.71 | 0.56% |
| DEXIA CRE 2.68 11/18/08 | 25213E7A1 | 20,000,000 | $20,000,046.99 | 0.56% |
| CITIBANK CD 2.75 11/26/08 | 1730D1TQ7 | 20,000,000 | $20,000,000.00 | 0.56% |
| BK NOVA SCO 2.88 02/25/09 | 06416MTA4 | 20,000,000 | $20,000,000.00 | 0.56% |
| AMERICAN HD VRN 04/02/09 | 02666QB51 | 20,000,000 | $20,000,000.00 | 0.56% |
| ASB FIN VRN CD 07/13/09 | 0020P5AC3 | 20,000,000 | $20,000,000.00 | 0.56% |
| RABOBANK VRN 08/04/09 | 74977RBJ2 | 20,000,000 | $20,000,000.00 | 0.56% |
| SOCIETE GE VRCD 03/02/09 | 8336P22T4 | 20,000,000 | $20,000,000.00 | 0.56% |
| SOC GENER 2.92 12/01/08 | 8336P2J74 | 20,000,000 | $20,000,000.00 | 0.56% |
| NORDIA BK 2.63 12/05/08 | 65556E5K2 | 20,000,000 | $20,000,000.00 | 0.56% |
| SAN PAOLO 3.08 01/09/09 | 46522EUQ2 | 20,000,000 | $20,000,000.00 | 0.56% |
| LLOYDS TSB 2.90 01/20/09 | 53943YHR8 | 20,000,000 | $20,000,000.00 | 0.56% |
| TOYOTA MTR VRN 09/11/09 | 89233P2G0 | 20,000,000 | $20,000,000.00 | 0.56% |
| CONOCOPHILLI CP 11/03/08 | 2082M2L39 | 20,000,000 | $19,999,744.45 | 0.56% |
| HSBC BK CD 3.12 12/15/08 | PPEC0AK52 | 20,000,000 | $19,998,529.89 | 0.56% |
| NOVARTIS FIN CP 11/03/08 | 6698M4L34 | 20,000,000 | $19,998,111.11 | 0.56% |
| DANSKE CORP CP 11/03/08 | 2363F6L32 | 20,000,000 | $19,997,166.67 | 0.56% |
| DNB NOR BANK CP 11/03/08 | 2332K0L34 | 20,000,000 | $19,996,944.44 | 0.56% |
| PROC&GAMB INT CP 11/06/08 | 74273LL63 | 20,000,000 | $19,996,250.00 | 0.56% |
| NORDEA N AMERICA 11 05 08 | 6555P0L56 | 20,000,000 | $19,994,088.89 | 0.56% |
| SAN PAOLO IMI CP 11 05 08 | 79917JL51 | 20,000,000 | $19,993,844.44 | 0.56% |
| JP MORGAN CHA CP 11/06/08 | 4662J0L67 | 20,000,000 | $19,992,777.78 | 0.56% |
| ING US CP 11/06/08 | 4497W0L63 | 20,000,000 | $19,992,500.00 | 0.56% |
| NOKIA CORP CP 11 07 08 | 65528XL76 | 20,000,000 | $19,989,333.33 | 0.56% |
| SANTAND CENT CP 11/12/08 | 80281JLC2 | 20,000,000 | $19,987,777.78 | 0.56% |
| RABOBANK FIN CP 11 10 08 | 74977KLA5 | 20,000,000 | $19,987,300.00 | 0.56% |
| PROCTR & GAMB CP 11 12 08 | 74271TLC5 | 20,000,000 | $19,986,861.11 | 0.56% |
| WESTPAC BANK CP 11/10/08 | 9612C0LA5 | 20,000,000 | $19,986,350.00 | 0.56% |
| SIEMENS CAP CP 11/26/08 | 82619TLS4 | 20,000,000 | $19,983,194.44 | 0.56% |
| HSBC USA CP 11/13/08 | 40427RLD1 | 20,000,000 | $19,982,000.00 | 0.56% |
| SIEMENS CAPTL CP 11/21/08 | 82619TLM7 | 20,000,000 | $19,980,888.89 | 0.56% |
| SWISS RE TREA CP 11/17/08 | 8708EMLH7 | 20,000,000 | $19,975,555.56 | 0.56% |
| HSBC USA CP 11/20/08 | 40427RLL3 | 20,000,000 | $19,972,555.56 | 0.56% |
| ROYAL BK OF C CP 11/26/08 | 78009ALS1 | 20,000,000 | $19,969,652.78 | 0.56% |
| BANK NOVA SCOTIA 11 25 08 | 06416JLR2 | 20,000,000 | $19,964,400.00 | 0.56% |
| LLOYDS TSB CP 11/24/08 | 53943RLQ0 | 20,000,000 | $19,961,027.78 | 0.56% |
| NOKIA CORP CP 12/03/08 | 65528XM34 | 20,000,000 | $19,956,800.00 | 0.56% |
| ING FUNDING CP 12/02/08 | 4497W0M21 | 20,000,000 | $19,951,863.89 | 0.56% |
| DANSKE CORP CP 12 03 08 | 2363F6M31 | 20,000,000 | $19,951,644.44 | 0.56% |
| UNILEVER CAP CP 12/19/08 | 90477DMK9 | 20,000,000 | $19,925,333.33 | 0.56% |
| SAN PAOLO IMI CP 12/17/08 | 79917JMH4 | 20,000,000 | $19,920,011.11 | 0.56% |
| DNB NOR BNK CP 01/14/09 | 2332K0NE8 | 20,000,000 | $19,882,422.22 | 0.56% |
| GREENWICH CAP CP 01 15 09 | 3967X0NF3 | 20,000,000 | $19,873,750.00 | 0.56% |
| GEN ELECTRIC CP 02/09/09 | 36959HP92 | 20,000,000 | $19,849,444.44 | 0.56% |
| ASTRAZENECA CP 03/13/09 | 04635PQD4 | 20,000,000 | $19,816,666.67 | 0.56% |
| DNB NORBANK CP 03/13/09 | 2332K0QD7 | 20,000,000 | $19,782,933.33 | 0.56% |
| US BANK 2.90 02/06/09 | 90331JJH3 | 19,500,000 | $19,500,000.00 | 0.55% |
| WESTPAC BNKG VRN 05/26/09 | 96121FFC7 | 19,000,000 | $18,997,341.03 | 0.54% |
| PNC BANK NA CP 03 05 09 | 69349JQ55 | 19,000,000 | $18,804,975.55 | 0.53% |
| ROYAL BK CAN CP 12 09 08 | 78009AM92 | 18,550,000 | $18,498,503.14 | 0.52% |
| LLOYDS TSB 2.62 11/07/08 | 53943YLN2 | 18,200,000 | $18,200,000.00 | 0.51% |
| ING FUNDING CP 01 05 09 | 4497W0N53 | 18,000,000 | $17,907,050.00 | 0.50% |
| IBM CAPITAL CP 11/25/08 | 4492H2LR1 | 17,900,000 | $17,882,100.00 | 0.50% |
| BMW US CAPITA CP 11/12/08 | 0556C2LC5 | 16,855,000 | $16,846,895.06 | 0.47% |
| TORONTO DOM 2.95 01/21/09 | 8911A3SF0 | 15,775,000 | $15,775,350.56 | 0.44% |
| WACHOVIA BNK CD 01/12/09 | 92976EMB9 | 15,000,000 | $15,000,000.00 | 0.42% |
| LLOYDS TSB BK CP 11/03/08 | 53943RL31 | 15,000,000 | $14,999,591.67 | 0.42% |
| PNC BANK VRN 01/27/09 | 69347DDN5 | 15,000,000 | $14,990,579.42 | 0.42% |
| NOKIA CORP CP 11/17/08 | 65528XLH4 | 15,000,000 | $14,988,666.67 | 0.42% |
| SOUTHERN CO CP 11/20/08 | 8426E2LL1 | 15,000,000 | $14,985,750.00 | 0.42% |
| SWISS RE TRES CP 02/02/09 | 8708EMP26 | 15,000,000 | $14,883,362.50 | 0.42% |
| EXPORT DEV CP 03/05/09 | 30215GQ54 | 15,000,000 | $14,863,083.33 | 0.42% |
| SWISS RE TREA US 02 20 09 | 8708EMPL4 | 15,000,000 | $14,858,475.00 | 0.42% |
| ING FDG CP 03/06/09 | 4497W0Q68 | 15,000,000 | $14,844,791.66 | 0.42% |
| HSBC USA INC CP 03/10/09 | 40427RQA2 | 15,000,000 | $14,841,437.50 | 0.42% |
| AMER HONDA CP 11/12/08 | 02665JLC2 | 13,416,000 | $13,407,186.44 | 0.38% |
| SIEMENS CAPIT CP 11/06/08 | 82619TL62 | 13,000,000 | $12,996,479.17 | 0.36% |
| ROYAL BK VRCD 03/05/09 | 78010GQV3 | 12,000,000 | $12,000,000.00 | 0.34% |
| CREDIT 3.875 01/15/09 | 22541LAL7 | 10,000,000 | $10,010,870.79 | 0.28% |
| CONCENTRATE CP 11 07 08 | 20601SL72 | 10,000,000 | $9,996,583.33 | 0.28% |
| FREDDIE MAC DN 11/17/08 | 313396P80 | 10,000,000 | $9,994,666.67 | 0.28% |
| EMERSON ELEC CP 11/17/08 | 29101ALH5 | 10,000,000 | $9,992,666.67 | 0.28% |
| FHLB 2.65 06/04/09 | 3133XRGC8 | 10,000,000 | $9,991,937.50 | 0.28% |
| CREDIT SUIS 3.10 01/27/09 | 22550CKV2 | 9,500,000 | $9,500,000.00 | 0.27% |
| NARO 2008 2.7858 06/15/09 | 65475XAA4 | 8,646,300 | $8,646,300.47 | 0.24% |
| EMERSON ELECT CP 11/24/08 | 29101ALQ5 | 8,000,000 | $7,992,333.34 | 0.22% |
| COLGATE PALM CP 11/05/08 | 19416EL54 | 6,550,000 | $6,549,272.22 | 0.18% |
| FORD CREDIT VRN, 05/15/09 | 34528YAA5 | 4,031,506 | $4,031,506.08 | 0.11% |
| BROWN BROS CAYMAN STIF | CAYMANMMK | 1,663,896 | $1,663,896.86 | 0.04% |
| WORLD OMNI 2.922 03/16/09 | 98156TAA0 | 1,369,458 | $1,369,458.50 | 0.03% |
| Total Fund Assets | | | $3,516,139,174.82 | 100.00% |
