Investments Resource Center

Alliance Bernstein NVIT Global Fixed Income Fund

Top Holdings (all classes) as of 10/30/200909/30/200908/31/2009

View all holdings as of 10/30/2009 | 09/30/2009 | 08/31/2009

Holding	Percent
EUROPEAN INVESTMENT BANK 1.4% SNR NTS 20/JUN/2017	3.95%
FRANCE(GOVT OF) 4.25% OAT 25/APR/2019 EUR1	3.93%
DUTCH GOVT 3.75% BDS 15/JUL/2014 EUR1	3.92%
GERMANY(FEDERAL REPUBLIC) 6.25% BDS 04/JAN/2030	3.90%
CANADA HOUSING TRUST 3.55% 15/SEP/2010	3.71%
SWEDEN (KINGDOM OF) 4.5% BDS 12/AUG/2015 SEK'1049'	3.69%
AUSTRIA(REPUBLIC OF) BDS 15/SEP/2016 EUR1000	3.21%
NORWAY(KINGDOM OF) 6.5% BDS 15/MAY/2013 NOK1000	2.94%
UNITED STATES TREAS NTS 2.750% 15/FEB/2019	2.91%
BELGIUM(KINGDOM OF) 3.75% BDS 28/SEP/2015 EUR0.01	2.79%

Holding	Ticker	Security No	Shares	Market Value	Percent
EUROPEAN INVESTMENT BANK 1.4% SNR NTS 20/JUN/2017	N/A	B0BVDQ8	110,600,000	1,240,088.75	3.95%
FRANCE(GOVT OF) 4.25% OAT 25/APR/2019 EUR1	N/A	7605163	790,000	1,236,533.46	3.93%
DUTCH GOVT 3.75% BDS 15/JUL/2014 EUR1	N/A	B00K8C7	795,000	1,232,297.32	3.92%
GERMANY(FEDERAL REPUBLIC) 6.25% BDS 04/JAN/2030	BB14	5880508	645,000	1,224,714.20	3.90%
CANADA HOUSING TRUST 3.55% 15/SEP/2010	N/A	13509PAT0	1,230,000	1,166,104.34	3.71%
SWEDEN (KINGDOM OF) 4.5% BDS 12/AUG/2015 SEK'1049'	N/A	B0312G9	7,575,000	1,161,127.96	3.69%
AUSTRIA(REPUBLIC OF) BDS 15/SEP/2016 EUR1000	N/A	B138LV5	650,000	1,008,906.59	3.21%
NORWAY(KINGDOM OF) 6.5% BDS 15/MAY/2013 NOK1000	N/A	7381076	4,802,000	924,991.55	2.94%
UNITED STATES TREAS NTS 2.750% 15/FEB/2019	N/A	912828KD1	962,000	914,200.14	2.91%
BELGIUM(KINGDOM OF) 3.75% BDS 28/SEP/2015 EUR0.01	N/A	B06HZF4	570,000	877,754.32	2.79%
AUSTRALIA(COMMONWEALTH OF) 5.75% BDS 15/JUN/2011	XCLWG	6136244	835,000	763,794.06	2.43%
GERMANY(FEDERAL REPUBLIC) 3.75% BDS 04/JUL/2013	BB23	7624641	440,000	684,855.88	2.18%
FEDERAL HOME LOAN MORTGAGE CORP 4.75% NTS	N/A	3134A4ZT4	504,000	552,534.19	1.76%
TREASURY 5% TSY GILT 07/MAR/2018 GBP	T18	B1VWPC8	289,000	530,001.82	1.69%
UNITED STATES TREAS NTS 03.875% 15/MAY/2018	N/A	912828HZ6	480,000	501,412.32	1.60%
CANADA (GOVT OF) 4.25% BDS 01/JUN/2018 CAD1000	N/A	B28XMW0	410,000	406,343.51	1.29%
RSHB CAPITAL 7.75% NTS 29/MAY/2018 USD100000	N/A	74973DAD1	338,000	362,505.00	1.15%
BELGIUM KINGDOM 4.25% 28/SEP/2013	N/A	7538526	225,000	354,779.87	1.13%
QUEBEC (PROVINCE OF) 5.25% DUE 01/OCT/2013	N/A	B622VK2	349,000	353,763.86	1.13%
BANK OF AMERICA CORP 4.9% MTN 01/MAY/2013 USD1000	N/A	06051GDW6	275,000	286,337.98	0.91%
HUNGARY(REPUBLIC OF) 6.75% BDS 24/FEB/2017	N/A	B1HL5Q3	51,290,000	263,381.37	0.84%
TREASURY 5.25% TREASURY GILT 07/JUN/2012	TR12	B1L6WG3	135,000	240,707.86	0.77%
JAPAN FINANCE ORGANIZATION FOR MUNICIPALITIES 2%	N/A	B1405Y1	20,000,000	233,220.46	0.74%
ONTARIO (PROVINCE OF) 4.75% DUE 02/JUN/2013	N/A	2802505	232,000	230,617.07	0.73%
CITIGROUP INC 5.5% NTS 11/APR/2013 USD1000	N/A	172967EQ0	220,000	229,271.46	0.73%
TREASURY 4.75% TREASURY GILT 07/DEC/2030 GBP	TR30	B24FF09	128,000	227,821.26	0.72%
CANADA (GOVT OF) 4% BDS 01/JUN/2016 CAD1000	N/A	B0P4V14	220,000	216,067.83	0.69%
WELLS FARGO COMPANY 4.375% 31/JAN/2013	N/A	949746NY3	200,000	208,255.40	0.66%
JP MORGAN CHASE COMM MRTG SEC TR 5.552% NTS	N/A	46629GAE8	200,000	196,269.10	0.62%
WESTERN UNION COMPANY (THE) 5.93% NTS 01/OCT/2016	N/A	959802AB5	150,000	161,825.25	0.51%
FED REPUBLIC OF BRAZIL 12.5 05/JAN/2016	N/A	105756BJ8	250,000	160,365.58	0.51%
AT&T INC 5.60% 15/MAY/2018	N/A	00206RAM4	150,000	158,725.50	0.50%
MORGAN STANLEY CAPITAL I INC 2005-HQ6 A4A 4.989%	N/A	61745M6G3	160,000	158,689.74	0.50%
BRITISH TELECOMMUNICATIONS 8.625% 15/DEC/2030	N/A	111021AE1	125,000	157,049.50	0.50%
CIE FINANCEMENT FONCIER 4.375% 19/NOV/2014	N/A	B295SJ4	100,000	155,903.07	0.50%
NEW ZEALAND T-BILLS ZCP 18/NOV/2009	N/A	575081D	215,000	154,092.75	0.49%
LB UBS COMMERCIAL MORTGAGE TRUST	N/A	50179AAE7	180,000	152,062.47	0.48%
BANC AMER COML MTG TRUST 2006-2 5.414% CMO	N/A	05950XAE6	155,000	148,188.68	0.47%
AMERICAN EXPRESS CO 7.25% LN STK 20/MAY/2014	N/A	025816BA6	130,000	147,897.75	0.47%
GOLDMAN SACHS GROUP INC 7.5% SRN 15/FEB/2019	N/A	38141EA25	125,000	146,175.00	0.47%
BARCLAYS BANK PLC 5.45% SNR 12/SEP/2012 USD1000	N/A	06738GUZ1	135,000	146,113.88	0.46%
POLAND(REPUBLIC OF) 4.675% MTN 15/OCT/2019	N/A	B54LFM0	100,000	145,163.56	0.46%
TIME WARNER CABLE 7.5% SNR NTS 01/APR/2014 USD	N/A	88732JAR9	125,000	143,883.13	0.46%
TRANSCAPITILINVEST LTD 7.7% BDS 07/AUG/2013	N/A	89354FAD3	135,000	143,606.25	0.46%
ABBEY NATIONAL TREASURY SERVICES 4.25% CVD BDS	N/A	B12M7N2	100,000	143,524.14	0.46%
BANK OF SCOTLAND PLC 4.75% 08/JUN/2022	N/A	B1YCCC4	100,000	143,155.78	0.46%
BRAZIL(FED REP OF) 10.25% SNR BDS 10/JAN/2028 BRL	N/A	105756BN9	250,000	141,561.65	0.45%
ML CFC COMMERCIAL MORTGAGE TRUST FLTG RATE NTS	N/A	60687VAE5	155,000	140,713.45	0.45%
AOL TIME WARNER INC 7.625% BDS 15/APR/2031 USD1000	N/A	00184AAC9	125,000	139,799.63	0.44%
GENERAL ELECTRIC CAPITAL SERVICES 5.625% MTN	N/A	36962G3U6	135,000	138,942.00	0.44%
JPMORGAN CHASE & CO 6.75% SUB NTS 01/FEB/2011	N/A	46625HAJ9	125,000	132,270.13	0.42%
ORACLE CORP 5.75% NTS 15/APR/2018 USD1000	N/A	68389XAC9	120,000	131,856.00	0.42%
COMM 2007-C9 A-4 10/DEC/2049 FLT	N/A	20047RAE3	138,238	127,972.78	0.41%
JPMORGAN CHASE & CO 2.2% 15/JUN/2012	N/A	481247AK0	125,000	127,499.38	0.41%
MORGAN STANLEY 1.95% BDS 20/JUN/2012 USD1000	N/A	61757UAH3	125,000	126,652.75	0.40%
BANK OF AMERICA CORP 3.125% BDS 15/JUN/2012	N/A	06050BAA9	120,000	124,954.32	0.40%
GAZ CAPITAL SA 6.212% NTS 22/NOV/2016 USD1000	N/A	368266AE2	130,000	124,644.00	0.40%
MORGAN STANLEY CAP 2007-TOP27 A-4 11/JUN/2042 FLT	N/A	61754JAF5	125,000	123,337.50	0.39%
LB UBS COMMERCIAL MORTGAGE TRUST FR CMO	N/A	52108MDH3	125,000	122,422.63	0.39%
BRITISH COLUMBIA(PROVINCE OF)CANADA 4.25% DEB	N/A	B3CW543	125,000	122,316.44	0.39%
PETROBRAS INTL FIN CO 5.75% 20/JAN/2020	N/A	71645WAP6	120,000	119,640.00	0.38%
SOCIETE GENERALE VAR RATE BDS 29/JAN/2049 EUR1000	N/A	B05L483	100,000	116,260.35	0.37%
NORDEA HYPOTEK AB 4.25% EMTN 06/FEB/2014 EUR	N/A	B1QGX98	75,000	115,491.12	0.37%
ROYAL BANK OF CANADA 4.6250% 22/JAN/2018	N/A	B2NVJF1	75,000	114,814.65	0.37%
DOW CHEMICAL CO 8.55% BDS 15/MAY/2019 USD1000	N/A	260543BX0	98,000	111,879.05	0.36%
WPP FINANCE UK 8.00% SNR NTS 15/SEP/2014 USD1000	N/A	92931NAC4	100,000	110,941.40	0.35%
KAZMUNAIGAZ FINANCE SUB 9.125% NTS 02/JUL/2018	N/A	48667QAA3	100,000	110,000.00	0.35%
OWENS CORNING INC 9.00% BDS 15/JUN/2019 USD1000	N/A	690742AC5	100,000	108,488.70	0.35%
WALT DISNEY COMPANY 5.5% BDS 15/MAR/2019	N/A	25468PCK0	100,000	108,441.90	0.34%
RIO TINTO FINANCE LTD 5.875% BDS 15/JUL/2013	N/A	767201AE6	100,000	107,771.30	0.34%
HBOS CAPITAL FUNDING FXD/FLTG RTE NON CUM PERP	N/A	B159B27	120,000	107,283.29	0.34%
MERRILL LYNCH MORTGAGE TRUST 6.022% BDS	N/A	59025KAE2	125,000	107,145.00	0.34%
METROPOLITAN LIFE GLOBAL FUNDING I 5.125% MTN	N/A	59217EBW3	100,000	106,239.10	0.34%
CREDIT AGRICOLE VAR 13/DEC/2049 USD1000000'144A'	N/A	225313AB1	100,000	105,200.00	0.33%
ALLEGHENY ENERGY SUPPLY CO 5.75% NTS 15/OCT/2019	N/A	017363AK8	105,000	103,497.98	0.33%
ROYAL BANK OF SCOTLAND AGG PRINC SNR FXD NTS	N/A	78010JCV2	100,000	101,776.30	0.32%
STEEL CAP SA LN PARTN NT 144A 29/JUL/2013	N/A	858057AA0	100,000	101,375.00	0.32%
REPUBLIC OF CROATIA 6.75% 05/NOV/2019	N/A	226775AB0	100,000	100,925.00	0.32%
BAYER CAP CORP B.V 4.625% BDS 26/SEP/2014 USD1000	N/A	B3MQVZ8	65,000	100,643.29	0.32%
LITHUANIA(REPUBLIC OF) 6.75% BDS 15/JAN/2015	N/A	760721AA8	100,000	100,598.70	0.32%
WEA FINANCE LLC/WCI FINANCE LLC 5.75% NTS	N/A	92933WAA6	100,000	100,535.90	0.32%
RABOBANK NEDERLAND VAR BDS 31/DEC/2049	N/A	749770AQ6	80,000	100,400.00	0.32%
NOBLE GROUP 6.75% BDS 29/JAN/2020 USD1000'144A'	N/A	65504RAD6	100,000	100,117.70	0.32%
AUSTRALIA & NEW ZEALAND BANK GROUP 5.25% NTS	N/A	B2RD2T8	63,000	100,033.63	0.32%
HUSKY ENERGY INC SR NT 7.25% 15/DEC/2019	N/A	448055AF0	85,000	98,260.00	0.31%
ONCOR ELECTRIC DELIVERY CO 5.95% SNR NTS	N/A	68233JAB0	90,000	97,526.25	0.31%
DEUTSCHE BANK AG LONDON 4.875% 20/MAY/2013	N/A	2515A0NY5	90,000	96,131.16	0.31%
MCKESSON HBOC INC 5.25% BDS 01/MAR/2013 USD1000	N/A	581557AU9	90,000	96,043.14	0.31%
FEDERATED RETAIL HOLDING 5.35% BDS 15/MAR/2012	N/A	314275AB4	95,000	93,218.75	0.30%
WEYERHAEUSER CO DEB 7.375% DUE 15/MAR/2032	N/A	962166BR4	100,000	91,746.90	0.29%
NOBLE ENERGY INC 8.25% NTS 01/MAR/2019 USD1000	N/A	655044AD7	75,000	89,941.20	0.29%
CREDIT SUISSE LONDON BRANCH 6.125% BDS 05/AUG/2013	N/A	B3CB5R3	55,000	89,570.01	0.29%
VALERO ENERGY CORP 9.375% BDS 15/MAR/2019 USD1000	N/A	91913YAN0	75,000	88,764.38	0.28%
CONOCOPHILLIPS 6.0% NTS 15/JAN/2020 USD2000	N/A	20825CAU8	80,000	88,063.36	0.28%
ARCELORMITTAL SA 9% LN STK 15/FEB/2015 USD1000	N/A	03938LAL8	75,000	86,585.25	0.28%
RABOBANK NEDERLAND 4.75% BDS 06/JUN/2022 EUR1000	N/A	B1YF8Z8	55,000	84,119.78	0.27%
MACQUARIE GROUP LTD 7.625% 13/AUG/2019	N/A	55608JAB4	75,000	82,841.25	0.26%
SEMPRA ENERGY CORP 6.5% BDS 01/JUN/2016 USD1000	N/A	816851AN9	75,000	82,369.95	0.26%
VERIZON COMMUNICATIONS INC 5.25% NTS 15/APR/2013	N/A	92343VAN4	75,000	81,411.00	0.26%
SARA LEE CORP 6.25% NTS 15/SEP/2011 USD1000	N/A	803111AK9	75,000	80,962.28	0.26%
FREEPORT-MCMORAN COPPER & GOLD INC 8.375% BDS	N/A	35671DAS4	75,000	80,625.00	0.26%
CARREFOUR 5.375% SNR EMTN 12/JUN/2015 EUR	N/A	B39RDB4	50,000	80,036.64	0.25%
EXPRESS SCRIPTS INC 5.25% LN STK 15/JUN/2012	N/A	302182AC4	75,000	79,895.10	0.25%
KRAFT FOODS INC 6.125% 23/AUG/2018	N/A	50075NAV6	75,000	79,734.68	0.25%
NISOURCE FINANCE CORP 6.8% BDS 15/JAN/2019 USD1000	N/A	65473QAT0	75,000	79,173.75	0.25%
BNP PARIBAS HOME LOAN COVERED BONDS SA 4.75% MTN	N/A	B39J978	50,000	78,776.03	0.25%
PFIZER INC MTN 4.75% 03/JUN/2016	N/A	B4Z6KM2	50,000	77,914.96	0.25%
ELECTRONIC DATA SYSTEMS CORP 6% BDS 01/AUG/2013	N/A	285661AD6	70,000	77,546.84	0.25%
EMBARQ CORPORATION 7.082% BDS 01/JUN/2016 USD1000	N/A	29078EAB1	70,000	76,472.27	0.24%
DEXIA CREDIT LOCAL DE FRANCE 4.3% NTS PERP	N/A	B0P2R76	100,000	75,054.15	0.24%
CBS CORP NEW GTD SR NT 8.2% 15/MAY/2014	N/A	124857AB9	65,000	72,392.00	0.23%
UBS AG LONDON 5.625% NTS 19/MAY/2014 EUR1000	N/A	B4R5F33	45,000	70,997.24	0.23%
COMMERZBANK CAP FUND 5.012% BDS 29/MAR/2049	N/A	B11JGB5	100,000	70,639.20	0.22%
ING GROEP NV VARIABLE PERPETUAL	N/A	456837AC7	95,000	69,350.00	0.22%
US BANK NA FRN MTN 28/FEB/2017 EUR50000	N/A	B1S7LJ5	50,000	68,540.63	0.22%
CANADIAN NATL RAILWAY 5.55% 01/MAR/2019	N/A	136375BT8	60,000	65,794.86	0.21%
JOHN DEERE CAPITAL CORP 5.25% MTN 01/OCT/2012	N/A	24422EQW2	60,000	65,203.98	0.21%
BAXTER INTERNATIONAL INC 5.375% NTS 01/JUN/2018	N/A	071813AY5	60,000	64,716.84	0.21%
HUMANA INC 7.2% SNR NTS 15/JUN/2018 USD1000	N/A	444859AY8	63,000	64,246.27	0.20%
RRI ENERGY INC 7.625% 15/JUN/2014	N/A	74971XAB3	65,000	63,375.00	0.20%
BARCLAYS BANK PLC VAR PERP EUR10000	N/A	B06FPT2	70,000	61,191.21	0.19%
TYCO INTERNATIONAL LTD 8.5% BDS 15/JAN/2019	N/A	902118BL1	50,000	60,983.25	0.19%
AMEREN CORP 8.875% BDS 15/MAY/2014 USD1000	N/A	023608AE2	54,000	60,556.41	0.19%
VALE OVERSEAS LIMITED 6.875% GTD NTS 21/NOV/2036	N/A	91911TAH6	60,000	60,366.00	0.19%
CENTRAL EUROPEAN DISTRIBUTION CORP 8% BDS	N/A	B1W07D6	40,000	58,866.00	0.19%
TELECOM ITALIA CAPITAL 5.25% BDS 15/NOV/2013	N/A	87927VAE8	55,000	57,871.72	0.18%
PRINCIPAL FINANCIAL GROUP 7.875% BDS 15/MAY/2014	N/A	74251VAB8	50,000	56,073.25	0.18%
INTERNATIONAL PAPER CO 7.95% BDS 15/JUN/2018	N/A	460146CA9	50,000	55,731.60	0.18%
ALTRIA GROUP INC 9.7% NTS 10/NOV/2018 USD1000	N/A	02209SAD5	45,000	55,402.52	0.18%
BHP BILLITON FINANCE 5.50% GTD SNR NTS 01/APR/2014	N/A	055451AG3	50,000	54,925.00	0.17%
MASS MUTUAL LIFE 8.875% BDS 01/JUN/2039	N/A	575767AG3	45,000	54,816.57	0.17%
DEVON FINANCING CO 6.875% 30/SEP/2011 USD1000	N/A	25179SAC4	50,000	54,532.35	0.17%
VALERO ENERGY CORP(NEW) 6.875% BDS 15/APR/2012	N/A	91913YAD2	50,000	54,477.70	0.17%
COVENTRY HEALTH CARE INC 6.3% 15/AUG/2014	N/A	222862AH7	55,000	54,061.65	0.17%
SLM CORP 8.45% NTS 15/JUN/2018 USD1000'TR 104'	N/A	78442FEH7	60,000	52,842.30	0.17%
SUPERVALU INC 8% BDS 01/MAY/2016 USD1000	N/A	868536AT0	50,000	50,875.00	0.16%
TECK RESOURCES LTD 9.75% BDS 15/MAY/2014 USD100	N/A	878742AJ4	45,000	50,512.50	0.16%
COMPAGNIE DE FINANC 3.75000 24/JAN/2017	N/A	B05LDG4	34,000	50,451.69	0.16%
DELL INC 5.625% 15/APR/2014	N/A	24702RAG6	45,000	49,705.29	0.16%
ROYAL BANK SCOTLND GRP PLC VAR PERP	N/A	780097AU5	100,000	49,000.00	0.16%
PRUDENTIAL FINANCIAL INC 5.15% BDS 15/JAN/2013	N/A	74432QBE4	46,000	48,277.74	0.15%
UNITED STATES STEEL CORP 6.05% BDS 01/JUN/2017	N/A	912909AC2	50,000	45,829.15	0.15%
ECOPETROL SA 7.625% NTS 23/JUL/2019 USD1000	N/A	279158AB5	41,000	44,690.00	0.14%
COMCAST CORP 5.9% BDS 15/MAR/2016 USD1000	N/A	20030NAL5	40,000	42,902.00	0.14%
ABN AMRO BANK NV VAR BDS 31/DEC/2049 EUR1000	N/A	B0ZXTD9	55,000	42,493.89	0.14%
CANADIAN NATURAL RESOURCES 5.15% NTS 01/FEB/2013	N/A	136385AM3	40,000	42,395.60	0.13%
WEATHERFORD INTERNATIONAL 5.15% BDS 15/MAR/2013	N/A	947075AC1	40,000	41,963.48	0.13%
BAUSCH & LOMB INC 9.875% BDS 01/NOV/2015 USD1000	N/A	071707AP8	40,000	41,400.00	0.13%
DOW CHEMICAL CO 7.6% BDS 15/MAY/2014 USD1000	N/A	260543BW2	37,000	41,109.18	0.13%
SOUTHERN CO SR NT 4.15% 15/MAY/2014	N/A	842587CE5	39,000	40,569.09	0.13%
PARKER-HANNIFIN CORP 5.5% BDS 15/MAY/2018 USD2000	N/A	70109HAH8	37,000	39,486.44	0.13%
HARTFORD FINANCIAL SERVICES GRP INC 6.3% SNR NTS	N/A	416515AU8	40,000	39,059.84	0.12%
GUARDIAN LIFE INSURANCE 7.325% 30/SEP/2039	N/A	401378AA2	35,000	35,375.69	0.11%
SOUTHWEST AIRLINES CO 5.25% 01/OCT/2014	N/A	844741AW8	35,000	35,269.01	0.11%
PERU(REPUBLIC OF) 7.125% BDS 30/MAR/2019 USD1000	N/A	715638AW2	31,000	35,185.00	0.11%
SOUTHWEST AIRLINES CO 5.75% BDS 15/DEC/2016	N/A	844741AY4	35,000	34,671.91	0.11%
XEROX CORP 8.25% BDS 15/MAY/2014 USD1000	N/A	984121BY8	30,000	34,565.31	0.11%
ING CAPITAL FUNDING TRUST III VAR% PERP GTD BDS	N/A	44978NAA3	40,000	34,100.00	0.11%
ACCO BRANDS CORP SR NT 144A 15/MAR/2015	N/A	00081TAC2	30,000	32,100.00	0.10%
WILLIAMS COMPANIES INC 7.875% BDS 01/SEP/2021	N/A	969457BG4	29,000	31,644.28	0.10%
UNITEDHEALTH GROUP INC 6% 15/FEB/2018	N/A	91324PBJ0	30,000	31,471.98	0.10%
DTE ENERGY COOMPANY 7.625% 15/MAY/2014	N/A	233331AN7	28,000	30,899.82	0.10%
GOODYEAR TIRE & RUBBER CO 9% SNR NTS 01/JUL/2015	N/A	382550AU5	30,000	30,900.00	0.10%
DIRECTV HLDGS/FINANCE 4.75% BDS 01/OCT/2014	N/A	25459HAJ4	30,000	30,605.19	0.10%
ALCOA INC 6.75% SNR NTS 15/JUL/2018 USD1000	N/A	013817AS0	30,000	30,508.38	0.10%
FLEXTRONICS INTERNATIONAL 6.5% BDS 15/MAY/2013	N/A	33938EAJ6	30,000	30,000.00	0.10%
INGERSOLL-RAND PLC 9.5% BDS 15/APR/2014 USD1000	N/A	45687AAE2	25,000	29,997.50	0.10%
COMPAGNIE DE FINANCEMENT FONCIER 4.625% MTN	N/A	B28J3J2	19,000	29,671.30	0.09%
CSC HOLDINGS INC 8.50% BDS 15/APR/2014 USD1000	N/A	126304AW4	28,000	29,575.00	0.09%
TESORO CORP 6.5% 01/JUN/2017	N/A	881609AT8	33,000	29,535.00	0.09%
TELUS CORP 4.95% UNS 15/MAY/2014 CAD1000	N/A	B4XH1L3	30,000	29,086.73	0.09%
WELLPOINT INC 7.00% BDS 15/FEB/2019 USD1000	N/A	94973VAR8	23,000	26,032.96	0.08%
AES CORPORATION 7.75% 01/MAR/2014	N/A	00130HBC8	24,000	24,120.00	0.08%
BBVA INTL PREFERRED SA UNIPERSONAL GTD PFD FXD TO	N/A	05530RAB4	30,000	24,000.00	0.08%
CASE NEW HOLLAND INC 7.125% SNR NTS 01/MAR/2014	N/A	147446AM0	24,000	23,760.00	0.08%
MACQUARIE BANK LTD VAR 31/MAY/2017	N/A	B1WRPB1	30,000	23,220.60	0.07%
LINCOLN NATIONAL CORP 8.75% NTS 01/JUL/2019	N/A	534187AX7	19,000	22,121.83	0.07%
DELHAIZE GROUP 5.875% SNR NTS 01/FEB/2014 USD	N/A	24668PAC1	20,000	21,537.22	0.07%
WELLPOINT INC 5.875% BDS 15/JUN/2017 USD1000	N/A	94973VAM9	20,000	21,111.88	0.07%
HESS CORP 8.125% BDS 15/FEB/2019 USD1000	N/A	42809HAB3	17,000	20,635.99	0.07%
EASTMAN CHEMICAL CO 5.5% BDS 15/NOV/2019 USD1000	N/A	277432AH3	20,000	20,245.40	0.06%
BUNGE LTD FINANCE CORP 8.50% BDS 15/JUN/2019	N/A	120568AT7	16,000	18,647.71	0.06%
UNION ELECTRIC CO 6.7% MTG BDS 01/FEB/2019 USD2000	N/A	906548CG5	15,000	16,841.33	0.05%
CRICKET COMMUNICATIONS 7.75% BDS 15/MAY/2016	N/A	226566AJ6	15,000	14,962.50	0.05%
NATIONAL CAPITAL TRST II VAR PERP 144A	N/A	635192AA5	18,000	14,760.00	0.05%
COVENTRY HEALTHCARE INC 5.95% SNR NTS 15/MAR/2017	N/A	222862AG9	15,000	13,410.26	0.04%
SWEDEN(KINGDOM OF) 6.75% BDS 05/MAY/2014 SEK100000	N/A	5357336	75,000	12,429.76	0.04%
HOLCIM FINANCE LUX 6% BDS 30/DEC/2019 USD'144A	N/A	43474TAA1	11,000	11,343.21	0.04%
TEXTRON FINANCIAL CORP 5.4% MTN 28/APR/2013	N/A	88319QM59	11,000	10,866.61	0.03%
PRUDENTIAL FINANCIAL INC 6.20% BDS 15/JAN/2015	N/A	74432QBF1	10,000	10,664.00	0.03%
HCA INC 8.5% BDS 15/APR/2019 USD1000'144A'	N/A	404119BE8	10,000	10,600.00	0.03%
HUMANA INC 6.45% 01/JUN/2016	N/A	444859AV4	10,000	9,984.58	0.03%
COVENTRY HEALTHCARE INC 6.125% BDS 15/JAN/2015	N/A	222862AF1	10,000	9,667.77	0.03%
HUMANA INC 6.3% 01/AUG/2018	N/A	444859AU6	10,000	9,635.02	0.03%
UNIVISION COMMUNICATIONS INC 12% BDS 01/JUL/2014	N/A	914906AF9	7,000	7,568.75	0.02%
WHIRLPOOL CORP 8.6% LN STK 01/MAY/2014 USD1000	N/A	96332HCB3	5,000	5,707.74	0.02%
PRUDENTIAL FINANCIAL INC 7.375% BDS 15/JUN/2019	N/A	74432QBG9	5,000	5,586.38	0.02%
AES CORP 7.75% SNR NTS 15/OCT/2015 USD1000	N/A	00130HBL8	5,000	5,031.25	0.02%
TEXTRON FINANCIAL CORP 4.6% MTN 03/MAY/2010	N/A	88319QH22	5,000	4,988.62	0.02%

Holding	Ticker	Security No	Shares	Market Value	Percent
EUROPEAN INVESTMENT BANK 1.4% SNR NTS 20/JUN/2017	N/A	B0BVDQ8	110,600,000	1,251,171.66	4.07%
FRANCE(GOVT OF) 4.25% OAT 25/APR/2019 EUR1	N/A	7605163	790,000	1,229,455.44	4.00%
GERMANY(FEDERAL REPUBLIC) 6.25% BDS 04/JAN/2030	BB14	5880508	645,000	1,227,689.11	3.99%
DUTCH GOVT 3.75% BDS 15/JUL/2014 EUR1	N/A	B00K8C7	795,000	1,225,987.09	3.99%
CANADA HOUSING TRUST 3.55% 15/SEP/2010	N/A	13509PAT0	1,230,000	1,180,818.38	3.84%
SWEDEN (KINGDOM OF) 4.5% BDS 12/AUG/2015 SEK'1049'	N/A	B0312G9	7,575,000	1,175,831.76	3.82%
AUSTRIA(REPUBLIC OF) BDS 15/SEP/2016 EUR1000	N/A	B138LV5	650,000	1,000,752.86	3.25%
TREASURY 5% TSY GILT 07/MAR/2018 GBP	T18	B1VWPC8	525,000	939,040.98	3.05%
NORWAY(KINGDOM OF) 6.5% BDS 15/MAY/2013 NOK1000	N/A	7381076	4,802,000	915,755.31	2.98%
BELGIUM(KINGDOM OF) 3.75% BDS 28/SEP/2015 EUR0.01	N/A	B06HZF4	570,000	872,653.69	2.84%
AUSTRALIA(COMMONWEALTH OF) 5.75% BDS 15/JUN/2011	XCLWG	6136244	835,000	752,585.19	2.45%
GERMANY(FEDERAL REPUBLIC) 3.75% BDS 04/JUL/2013	BB23	7624641	440,000	681,437.60	2.22%
FEDERAL HOME LOAN MORTGAGE CORP 4.75% NTS	N/A	3134A4ZT4	504,000	549,646.27	1.79%
UNITED STATES TREAS NTS 03.875% 15/MAY/2018	N/A	912828HZ6	480,000	503,062.56	1.64%
UNITED STATES TREAS NTS 2.750% 15/FEB/2019	N/A	912828KD1	487,000	464,742.64	1.51%
CANADA (GOVT OF) 4.25% BDS 01/JUN/2018 CAD1000	N/A	B28XMW0	410,000	414,442.16	1.35%
QUEBEC (PROVINCE OF) 5.25% DUE 01/OCT/2013	N/A	B622VK2	349,000	358,912.75	1.17%
BELGIUM KINGDOM 4.25% 28/SEP/2013	N/A	7538526	225,000	352,778.93	1.15%
RSHB CAPITAL 7.75% NTS 29/MAY/2018 USD100000	N/A	74973DAD1	338,000	347,599.20	1.13%
FED REPUBLIC OF BRAZIL 12.5 05/JAN/2016	N/A	105756BJ8	500,000	310,030.48	1.01%
BANK OF AMERICA CORP 4.9% MTN 01/MAY/2013 USD1000	N/A	06051GDW6	275,000	281,921.20	0.92%
HUNGARY(REPUBLIC OF) 6.75% BDS 24/FEB/2017	N/A	B1HL5Q3	51,290,000	261,923.65	0.85%
JAPAN FINANCE ORGANIZATION FOR MUNICIPALITIES 2%	N/A	B1405Y1	20,000,000	235,054.87	0.76%
TREASURY 5.25% TREASURY GILT 07/JUN/2012	TR12	B1L6WG3	135,000	234,857.09	0.76%
ONTARIO (PROVINCE OF) 4.75% DUE 02/JUN/2013	N/A	2802505	232,000	234,114.90	0.76%
CITIGROUP INC 5.5% NTS 11/APR/2013 USD1000	N/A	172967EQ0	220,000	225,131.72	0.73%
CANADA (GOVT OF) 4% BDS 01/JUN/2016 CAD1000	N/A	B0P4V14	220,000	219,977.40	0.72%
WELLS FARGO COMPANY 4.375% 31/JAN/2013	N/A	949746NY3	200,000	206,526.00	0.67%
JP MORGAN CHASE COMM MRTG SEC TR 5.552% NTS	N/A	46629GAE8	200,000	185,169.64	0.60%
WESTERN UNION COMPANY (THE) 5.93% NTS 01/OCT/2016	N/A	959802AB5	150,000	162,542.85	0.53%
BRITISH TELECOMMUNICATIONS 8.625% NOTES	N/A	111021AE1	125,000	160,134.25	0.52%
AT&T INC 5.60% 15/MAY/2018	N/A	00206RAM4	150,000	157,737.00	0.51%
MORGAN STANLEY CAPITAL I INC 2005-HQ6 A4A 4.989%	N/A	61745M6G3	160,000	155,695.38	0.51%
CIE FINANCEMENT FONCIER 4.375% 19/NOV/2014	N/A	B295SJ4	100,000	155,313.38	0.50%
NEW ZEALAND T-BILLS ZCP 18/NOV/2009	N/A	575081D	215,000	154,737.31	0.50%
LB UBS COMMERCIAL MORTGAGE TRUST	N/A	50179AAE7	180,000	150,953.13	0.49%
AMERICAN EXPRESS CO 7.25% LN STK 20/MAY/2014	N/A	025816BA6	130,000	146,063.84	0.47%
BARCLAYS BANK PLC 5.45% SNR 12/SEP/2012 USD1000	N/A	06738GUZ1	135,000	145,073.03	0.47%
PERU(REPUBLIC OF) 7.125% BDS 30/MAR/2019 USD1000	N/A	715638AW2	125,000	144,187.50	0.47%
TIME WARNER CABLE INC SR NT 7.5% 01/APR/2014	N/A	88732JAR9	125,000	143,366.38	0.47%
GOLDMAN SACHS GROUP INC 7.5% SRN 15/FEB/2019	N/A	38141EA25	125,000	142,952.13	0.46%
BANK OF SCOTLAND PLC 4.75% 08/JUN/2022	N/A	B1YCCC4	100,000	142,708.09	0.46%
TRANSCAPITILINVEST LTD 7.7% BDS 07/AUG/2013	N/A	89354FAD3	135,000	142,695.00	0.46%
ABBEY NATIONAL TREASURY SERVICES 4.25% CVD BDS	N/A	B12M7N2	100,000	142,630.53	0.46%
BANC AMER COML MTG TRUST 2006-2 5.414% CMO	N/A	05950XAE6	155,000	141,028.18	0.46%
AOL TIME WARNER INC 7.625% BDS 15/APR/2031 USD1000	N/A	00184AAC9	125,000	140,092.50	0.46%
ML CFC COMMERCIAL MORTGAGE TRUST FLTG RATE NTS	N/A	60687VAE5	155,000	138,560.44	0.45%
BRAZIL(FED REP OF) 10.25% SNR BDS 10/JAN/2028 BRL	N/A	105756BN9	250,000	135,470.76	0.44%
POLAND(REPUBLIC OF) 6.375% BDS 15/JUL/2019 USD1000	N/A	731011AR3	120,000	134,810.40	0.44%
GENERAL ELECTRIC CAPITAL SERVICES 5.625% MTN	N/A	36962G3U6	135,000	134,352.27	0.44%
JPMORGAN CHASE & CO 6.75% SUB NTS 01/FEB/2011	N/A	46625HAJ9	125,000	132,768.13	0.43%
ORACLE CORP 5.75% NTS 15/APR/2018 USD1000	N/A	68389XAC9	120,000	132,220.80	0.43%
JPMORGAN CHASE & CO 2.2% 15/JUN/2012	N/A	481247AK0	125,000	127,138.75	0.41%
MORGAN STANLEY 1.95% BDS 20/JUN/2012 USD1000	N/A	61757UAH3	125,000	126,262.50	0.41%
BANK OF AMERICA CORP 3.125% BDS 15/JUN/2012	N/A	06050BAA9	120,000	124,809.36	0.41%
GAZ CAPITAL SA 6.212% NTS 22/NOV/2016 USD1000	N/A	368266AE2	130,000	124,800.00	0.41%
COMM 2007-C9 A-4 10/DEC/2049 FLT	N/A	20047RAE3	138,238	124,568.34	0.40%
BRITISH COLUMBIA(PROVINCE OF)CANADA 4.25% DEB	N/A	B3CW543	125,000	124,193.25	0.40%
MORGAN STANLEY CAP 2007-TOP27 A-4 11/JUN/2042 FLT	N/A	61754JAF5	125,000	117,960.38	0.38%
LB UBS COMMERCIAL MORTGAGE TRUST FR CMO	N/A	52108MDH3	125,000	117,632.63	0.38%
NORDEA HYPOTEK AB 4.25% EMTN 06/FEB/2014 EUR	N/A	B1QGX98	75,000	115,243.54	0.37%
ROYAL BANK OF CANADA 4.6250% 22/JAN/2018	N/A	B2NVJF1	75,000	114,622.35	0.37%
DOW CHEMICAL CO 8.55% BDS 15/MAY/2019 USD1000	N/A	260543BX0	98,000	110,166.31	0.36%
WPP FINANCE UK 8.00% SNR NTS 15/SEP/2014 USD1000	N/A	92931NAC4	100,000	109,694.40	0.36%
SOCIETE GENERALE VAR RATE BDS 29/JAN/2049 EUR1000	N/A	B05L483	100,000	109,019.57	0.35%
WALT DISNEY COMPANY 5.5% BDS 15/MAR/2019	N/A	25468PCK0	100,000	108,584.20	0.35%
KAZMUNAIGAZ FINANCE SUB 9.125% NTS 02/JUL/2018	N/A	48667QAA3	100,000	108,500.00	0.35%
RIO TINTO FINANCE LTD 5.875% BDS 15/JUL/2013	N/A	767201AE6	100,000	107,742.60	0.35%
OWENS CORNING INC 9.00% BDS 15/JUN/2019 USD1000	N/A	690742AC5	100,000	107,400.90	0.35%
ALLEGHENY ENERGY SUPPLY CO 5.75% NTS 15/OCT/2019	N/A	017363AK8	105,000	104,926.50	0.34%
METROPOLITAN LIFE GLOBAL FUNDING I 5.125% MTN	N/A	59217EBW3	100,000	104,469.00	0.34%
ROYAL BANK OF SCOTLAND AGG PRINC SNR FXD NTS	N/A	78010JCV2	100,000	101,537.00	0.33%
WEA FINANCE LLC/WCI FINANCE LLC 5.75% NTS	N/A	92933WAA6	100,000	100,640.00	0.33%
BAYER CAP CORP B.V 4.625% BDS 26/SEP/2014 USD1000	N/A	B3MQVZ8	65,000	100,425.70	0.33%
STEEL CAP SA LN PARTN NT 144A 29/JUL/2013	N/A	858057AA0	100,000	100,125.00	0.33%
AUSTRALIA & NEW ZEALAND BANK GROUP 5.25% NTS	N/A	B2RD2T8	63,000	99,215.64	0.32%
RABOBANK NEDERLAND VAR BDS 31/DEC/2049	N/A	749770AQ6	80,000	98,000.00	0.32%
MERRILL LYNCH MORTGAGE TRUST 6.022% BDS	N/A	59025KAE2	125,000	97,927.95	0.32%
HUSKY ENERGY INC SR NT 7.25% 15/DEC/2019	N/A	448055AF0	85,000	97,489.90	0.32%
ONCOR ELECTRIC DELIVERY CO 5.95% SNR NTS	N/A	68233JAB0	90,000	97,399.62	0.32%
DEUTSCHE BANK AG LONDON 4.875% 20/MAY/2013	N/A	2515A0NY5	90,000	95,865.12	0.31%
MCKESSON HBOC INC 5.25% BDS 01/MAR/2013 USD1000	N/A	581557AU9	90,000	95,145.21	0.31%
HBOS CAPITAL FUNDING FXD/FLTG RTE NON CUM PERP	N/A	B159B27	120,000	94,825.08	0.31%
FEDERATED RETAIL HOLDING 5.35% BDS 15/MAR/2012	N/A	314275AB4	95,000	92,471.48	0.30%
NOBLE ENERGY INC 8.25% NTS 01/MAR/2019 USD1000	N/A	655044AD7	75,000	90,534.83	0.29%
CONOCOPHILLIPS 6.0% NTS 15/JAN/2020 USD2000	N/A	20825CAU8	80,000	88,660.08	0.29%
WEYERHAEUSER CO DEB 7.375% DUE 15/MAR/2032	N/A	962166BR4	100,000	88,578.00	0.29%
CREDIT SUISSE LONDON BRANCH 6.125% BDS 05/AUG/2013	N/A	B3CB5R3	55,000	88,303.29	0.29%
VALERO ENERGY CORP 9.375% BDS 15/MAR/2019 USD1000	N/A	91913YAN0	75,000	87,395.55	0.28%
ARCELORMITTAL SA 9% LN STK 15/FEB/2015 USD1000	N/A	03938LAL8	75,000	86,250.00	0.28%
RABOBANK NEDERLAND 4.75% SNR 06/JUN/2022 EUR'APR'	N/A	B3V4WY9	55,000	83,490.82	0.27%
SEMPRA ENERGY CORP 6.5% BDS 01/JUN/2016 USD1000	N/A	816851AN9	75,000	82,908.23	0.27%
VERIZON COMMUNICATIONS INC 5.25% NTS 15/APR/2013	N/A	92343VAN4	75,000	81,209.70	0.26%
SARA LEE CORP 6.25% NTS 15/SEP/2011 USD1000	N/A	803111AK9	75,000	80,989.20	0.26%
MACQUARIE GROUP LTD 7.625% 13/AUG/2019	N/A	55608JAB4	75,000	80,445.68	0.26%
FREEPORT-MCMORAN COPPER & GOLD INC 8.375% BDS	N/A	35671DAS4	75,000	79,781.25	0.26%
EXPRESS SCRIPTS INC 5.25% LN STK 15/JUN/2012	N/A	302182AC4	75,000	79,615.43	0.26%
CARREFOUR 5.375% SNR EMTN 12/JUN/2015 EUR	N/A	B39RDB4	50,000	79,580.70	0.26%
KRAFT FOODS INC 6.125% 23/AUG/2018	N/A	50075NAV6	75,000	79,551.83	0.26%
BNP PARIBAS HOME LOAN COVERED BONDS SA 4.75% MTN	N/A	B39J978	50,000	78,937.78	0.26%
ELECTRONIC DATA SYSTEMS CORP 6% BDS 01/AUG/2013	N/A	285661AD6	70,000	78,107.40	0.25%
PFIZER INC 4.75% BDS 03/JUN/2016 EUR	N/A	B4Z6KM2	50,000	77,038.57	0.25%
COMMERZBANK CAP FUND 5.012% BDS 29/MAR/2049	N/A	B11JGB5	100,000	76,825.87	0.25%
NISOURCE FINANCE CORP 6.8% BDS 15/JAN/2019 USD1000	N/A	65473QAT0	75,000	76,786.13	0.25%
EMBARQ CORPORATION 7.082% BDS 01/JUN/2016 USD1000	N/A	29078EAB1	70,000	76,059.06	0.25%
DEXIA CREDIT LOCAL DE FRANCE 4.3% NTS PERP	N/A	B0P2R76	100,000	72,435.82	0.24%
CBS CORP NEW GTD SR NT 8.2% 15/MAY/2014	N/A	124857AB9	65,000	70,761.34	0.23%
UBS AG LONDON 5.625% NTS 19/MAY/2014 EUR1000	N/A	B4R5F33	45,000	70,016.07	0.23%
US BANK NA FRN MTN 28/FEB/2017 EUR50000	N/A	B1S7LJ5	50,000	67,997.48	0.22%
CANADIAN NATL RAILWAY 5.55% 01/MAR/2019	N/A	136375BT8	60,000	65,705.58	0.21%
BAXTER INTERNATIONAL INC 5.375% NTS 01/JUN/2018	N/A	071813AY5	60,000	65,023.14	0.21%
JOHN DEERE CAPITAL CORP 5.25% MTN 01/OCT/2012	N/A	24422EQW2	60,000	64,884.18	0.21%
HUMANA INC 7.2% SNR NTS 15/JUN/2018 USD1000	N/A	444859AY8	63,000	63,760.22	0.21%
RRI ENERGY INC 7.625% 15/JUN/2014	N/A	74971XAB3	65,000	63,781.25	0.21%
BARCLAYS BANK PLC VAR PERP EUR10000	N/A	B06FPT2	70,000	63,253.30	0.21%
VALE OVERSEAS LIMITED 6.875% GTD NTS 21/NOV/2036	N/A	91911TAH6	60,000	62,071.86	0.20%
TYCO INTERNATIONAL LTD 8.5% BDS 15/JAN/2019	N/A	902118BL1	50,000	60,946.95	0.20%
ING GROEP NV VARIABLE PERPETUAL	N/A	456837AC7	95,000	60,800.00	0.20%
AMEREN CORP 8.875% BDS 15/MAY/2014 USD1000	N/A	023608AE2	54,000	60,698.48	0.20%
CENTRAL EUROPEAN DISTRIBUTION CORP 8% BDS	N/A	B1W07D6	40,000	59,412.01	0.19%
TELECOM ITALIA CAPITAL 5.25% BDS 15/NOV/2013	N/A	87927VAE8	55,000	57,856.92	0.19%
ALTRIA GROUP INC 9.7% NTS 10/NOV/2018 USD1000	N/A	02209SAD5	45,000	55,892.57	0.18%
BHP BILLITON FINANCE 5.50% GTD SNR NTS 01/APR/2014	N/A	055451AG3	50,000	55,257.05	0.18%
PRINCIPAL FINANCIAL GROUP 7.875% BDS 15/MAY/2014	N/A	74251VAB8	50,000	55,253.40	0.18%
MASS MUTUAL LIFE 8.875% BDS 01/JUN/2039	N/A	575767AG3	45,000	55,148.94	0.18%
DEVON FINANCING CO 6.875% 30/SEP/2011 USD1000	N/A	25179SAC4	50,000	54,396.60	0.18%
INTERNATIONAL PAPER CO 7.95% BDS 15/JUN/2018	N/A	460146CA9	50,000	54,197.90	0.18%
COVENTRY HEALTH CARE INC 6.3% 15/AUG/2014	N/A	222862AH7	55,000	54,005.16	0.18%
VALERO ENERGY CORP(NEW) 6.875% BDS 15/APR/2012	N/A	91913YAD2	50,000	53,811.05	0.17%
SUPERVALU INC 8% BDS 01/MAY/2016 USD1000	N/A	868536AT0	50,000	51,750.00	0.17%
COMPAGNIE DE FINANC 3.75000 24/JAN/2017	N/A	B05LDG4	34,000	50,342.78	0.16%
DELL INC 5.625% 15/APR/2014	N/A	24702RAG6	45,000	49,725.05	0.16%
TECK RESOURCES LTD 9.75% BDS 15/MAY/2014 USD100	N/A	878742AJ4	45,000	49,500.00	0.16%
ROYAL BANK SCOTLND GRP PLC VAR PERP	N/A	780097AU5	100,000	49,000.00	0.16%
SLM CORP 8.45% NTS 15/JUN/2018 USD1000'TR 104'	N/A	78442FEH7	60,000	47,850.00	0.16%
PRUDENTIAL FINANCIAL INC 5.15% BDS 15/JAN/2013	N/A	74432QBE4	46,000	47,357.05	0.15%
UNITED STATES STEEL CORP 6.05% BDS 01/JUN/2017	N/A	912909AC2	50,000	46,699.60	0.15%
ECOPETROL SA 7.625% NTS 23/JUL/2019 USD1000'144A'	N/A	279158AA7	41,000	44,895.00	0.15%
ABN AMRO BANK NV VAR BDS 31/DEC/2049 EUR1000	N/A	B0ZXTD9	55,000	44,668.76	0.15%
COMCAST CORP 5.9% BDS 15/MAR/2016 USD1000	N/A	20030NAL5	40,000	42,988.08	0.14%
CANADIAN NATURAL RESOURCES 5.15% NTS 01/FEB/2013	N/A	136385AM3	40,000	42,542.00	0.14%
WEATHERFORD INTERNATIONAL 5.15% BDS 15/MAR/2013	N/A	947075AC1	40,000	42,015.68	0.14%
BAUSCH & LOMB INC 9.875% BDS 01/NOV/2015 USD1000	N/A	071707AP8	40,000	41,900.00	0.14%
DOW CHEMICAL CO 7.6% BDS 15/MAY/2014 USD1000	N/A	260543BW2	37,000	40,931.21	0.13%
SOUTHERN CO SR NT 4.15% 15/MAY/2014	N/A	842587CE5	39,000	40,287.98	0.13%
PARKER-HANNIFIN CORP 5.5% BDS 15/MAY/2018 USD2000	N/A	70109HAH8	37,000	39,310.17	0.13%
HARTFORD FINANCIAL SERVICES GRP INC 6.3% SNR NTS	N/A	416515AU8	40,000	38,971.92	0.13%
KBC BK FUNDING III 9.86% NTS 29/NOV/2049 USD'144A	N/A	48239AAA7	51,000	35,190.00	0.11%
XEROX CORP 8.25% BDS 15/MAY/2014 USD1000	N/A	984121BY8	30,000	34,100.73	0.11%
UNITEDHEALTH GROUP INC 6% 15/FEB/2018	N/A	91324PBJ0	30,000	31,525.38	0.10%
ACCO BRANDS CORP 10.625% BDS 15/MAR/2015 USD	N/A	00081TAC2	30,000	31,350.00	0.10%
WILLIAMS COMPANIES INC 7.875% BDS 01/SEP/2021	N/A	969457BG4	29,000	31,368.17	0.10%
GOODYEAR TIRE & RUBBER CO 9% SNR NTS 01/JUL/2015	N/A	382550AU5	30,000	31,125.00	0.10%
DTE ENERGY COOMPANY 7.625% 15/MAY/2014	N/A	233331AN7	28,000	30,906.65	0.10%
ALCOA INC 6.75% SNR NTS 15/JUL/2018 USD1000	N/A	013817AS0	30,000	30,074.52	0.10%
DIRECTV HLDGS/FINANCE 4.75% BDS 01/OCT/2014	N/A	25459HAJ4	30,000	30,000.00	0.10%
TESORO CORP 6.5% 01/JUN/2017	N/A	881609AT8	33,000	29,865.00	0.10%
COMPAGNIE DE FINANCEMENT FONCIER 4.625% MTN	N/A	B28J3J2	19,000	29,614.84	0.10%
INGERSOLL-RAND PLC 9.5% BDS 15/APR/2014 USD1000	N/A	45687AAE2	25,000	29,540.73	0.10%
TELUS CORP 4.95% UNS 15/MAY/2014 CAD1000	N/A	B4XH1L3	30,000	29,402.89	0.10%
CSC HOLDINGS INC 8.50% BDS 15/APR/2014 USD1000	N/A	126304AW4	28,000	29,400.00	0.10%
FLEXTRONICS INTERNATIONAL 6.5% BDS 15/MAY/2013	N/A	33938EAJ6	30,000	29,250.00	0.10%
ING CAPITAL FUNDING TRUST III VAR% PERP GTD BDS	N/A	44978NAA3	40,000	26,800.00	0.09%
WELLPOINT INC 7.00% BDS 15/FEB/2019 USD1000	N/A	94973VAR8	23,000	26,145.41	0.08%
AES CORPORATION 7.75% 01/MAR/2014	N/A	00130HBC8	24,000	24,180.00	0.08%
CASE NEW HOLLAND INC 7.125% SNR NTS 01/MAR/2014	N/A	147446AM0	24,000	23,520.00	0.08%
MACQUARIE BANK LTD VAR 31/MAY/2017	N/A	B1WRPB1	30,000	22,696.13	0.07%
BBVA INTL PREFERRED SA UNIPERSONAL GTD PFD FXD TO	N/A	05530RAB4	30,000	22,500.00	0.07%
LINCOLN NATIONAL CORP 8.75% NTS 01/JUL/2019	N/A	534187AX7	19,000	21,974.77	0.07%
BUNGE LTD FINANCE CORP 8.50% BDS 15/JUN/2019	N/A	120568AT7	16,000	18,445.28	0.06%
CRICKET COMMUNICATIONS 7.75% BDS 15/MAY/2016	N/A	226566AJ6	15,000	15,225.00	0.05%
COVENTRY HEALTHCARE INC 5.95% SNR NTS 15/MAR/2017	N/A	222862AG9	15,000	13,449.77	0.04%
NATIONAL CAPITAL TRST II VAR PERP 144A	N/A	635192AA5	18,000	13,005.00	0.04%
SWEDEN(KINGDOM OF) 6.75% BDS 05/MAY/2014 SEK100000	N/A	5357336	75,000	12,638.98	0.04%
HOLCIM FINANCE LUX 6% BDS 30/DEC/2019 USD'144A	N/A	43474TAA1	11,000	11,133.85	0.04%
TEXTRON FINANCIAL CORP 5.125% BDS 03/FEB/2011	N/A	88319QJ20	11,000	11,006.53	0.04%
TEXTRON FINANCIAL CORP 5.4% MTN 28/APR/2013	N/A	88319QM59	11,000	10,800.88	0.04%
PRUDENTIAL FINANCIAL INC 6.20% BDS 15/JAN/2015	N/A	74432QBF1	10,000	10,579.63	0.03%
WELLPOINT INC 5.875% BDS 15/JUN/2017 USD1000	N/A	94973VAM9	10,000	10,554.82	0.03%
HCA INC 8.5% BDS 15/APR/2019 USD1000'144A'	N/A	404119BE8	10,000	10,450.00	0.03%
HUMANA INC 6.45% 01/JUN/2016	N/A	444859AV4	10,000	10,086.15	0.03%
COVENTRY HEALTHCARE INC 6.125% BDS 15/JAN/2015	N/A	222862AF1	10,000	9,642.84	0.03%
HUMANA INC 6.3% 01/AUG/2018	N/A	444859AU6	10,000	9,537.43	0.03%
UNIVISION COMMUNICATIONS INC 12% BDS 01/JUL/2014	N/A	914906AF9	7,000	7,525.00	0.02%
TEXTRON FINANCIAL CORP 4.6% MTN 03/MAY/2010	N/A	88319QH22	6,000	5,978.29	0.02%
PRUDENTIAL FINANCIAL INC 7.375% BDS 15/JUN/2019	N/A	74432QBG9	5,000	5,580.05	0.02%
WHIRLPOOL CORP 8.6% LN STK 01/MAY/2014 USD1000	N/A	96332HCB3	5,000	5,593.13	0.02%
AES CORP 7.75% SNR NTS 15/OCT/2015 USD1000	N/A	00130HBL8	5,000	5,025.00	0.02%

Holding	Ticker	Security No	Shares	Market Value	Percent
FRANCE(GOVT OF) 4.25% OAT 25/APR/2019 EUR1	N/A	7605163	790,000	1,202,582.61	4.13%
EUROPEAN INVESTMENT BANK 1.4% SNR NTS 20/JUN/2017	N/A	B0BVDQ8	110,600,000	1,200,917.69	4.13%
GERMANY(FEDERAL REPUBLIC) 6.25% BDS 04/JAN/2030	BB14	5880508	645,000	1,200,140.02	4.12%
DUTCH GOVT 3.75% BDS 15/JUL/2014 EUR1	N/A	B00K8C7	795,000	1,197,533.46	4.12%
CANADA HOUSING TRUST 3.55% 15/SEP/2010	N/A	13509PAT0	1,230,000	1,157,278.85	3.98%
SWEDEN (KINGDOM OF) 4.5% BDS 12/AUG/2015 SEK'1049'	N/A	B0312G9	7,575,000	1,152,914.15	3.96%
AUSTRIA(REPUBLIC OF) BDS 15/SEP/2016 EUR1000	N/A	B138LV5	650,000	971,065.43	3.34%
TREASURY 5% TSY GILT 07/MAR/2018 GBP	T18	B1VWPC8	525,000	963,966.66	3.31%
BELGIUM(KINGDOM OF) 3.75% BDS 28/SEP/2015 EUR0.01	N/A	B06HZF4	570,000	849,474.41	2.92%
NORWAY(KINGDOM OF) 0% TB 16/SEP/2009 NOK1000	N/A	B65HR95	5,034,000	836,517.16	2.88%
UNITED STATES TREAS NTS 2.750% 15/FEB/2019	N/A	912828KD1	865,000	818,844.47	2.81%
AUSTRALIA(CMNWLTH) 5.75% BDS 15/APR/2012 AUD1000	N/A	B1L6LB1	829,000	714,171.85	2.45%
GERMANY(FEDERAL REPUBLIC) 3.75% BDS 04/JUL/2013	BB23	7624641	440,000	665,901.45	2.29%
FEDERAL HOME LOAN MORTGAGE CORP 4.75% NTS	N/A	3134A4ZT4	504,000	545,226.70	1.87%
UNITED STATES TREAS NTS 03.875% 15/MAY/2018	N/A	912828HZ6	480,000	499,050.24	1.72%
QUEBEC (PROVINCE OF) 5.25% DUE 01/OCT/2013	N/A	B622VK2	349,000	349,832.24	1.20%
BELGIUM KINGDOM 4.25% 28/SEP/2013	N/A	7538526	225,000	344,413.77	1.18%
RSHB CAPITAL 7.75% NTS 29/MAY/2018 USD100000	N/A	74973DAD1	338,000	326,474.20	1.12%
FED REPUBLIC OF BRAZIL 12.5 05/JAN/2016	N/A	105756BJ8	500,000	295,881.54	1.02%
NEW ZEALAND 0% TB 09/SEP/2009 NZD1000	N/A	764007D	420,000	287,986.18	0.99%
BANK OF AMERICA CORP 4.9% MTN 01/MAY/2013 USD1000	N/A	06051GDW6	275,000	277,619.10	0.95%
HUNGARY(REPUBLIC OF) 6.75% BDS 24/FEB/2017	N/A	B1HL5Q3	51,290,000	245,336.63	0.84%
TREASURY 5.25% TREASURY GILT 07/JUN/2012	TR12	B1L6WG3	135,000	239,054.60	0.82%
ONTARIO (PROVINCE OF) 4.75% DUE 02/JUN/2013	N/A	2802505	232,000	228,112.49	0.78%
JAPAN FINANCE ORGANIZATION FOR MUNICIPALITIES 2%	N/A	B1405Y1	20,000,000	227,219.39	0.78%
CITIGROUP INC 5.5% NTS 11/APR/2013 USD1000	N/A	172967EQ0	220,000	218,976.78	0.75%
CANADA (GOVT OF) 4% BDS 01/JUN/2016 CAD1000	N/A	B0P4V14	220,000	214,633.17	0.74%
WELLS FARGO COMPANY 4.375% 31/JAN/2013	N/A	949746NY3	200,000	207,086.80	0.71%
JP MORGAN CHASE COMM MRTG SEC TR 5.552% NTS	N/A	46629GAE8	200,000	184,119.96	0.63%
WESTERN UNION COMPANY (THE) 5.93% NTS 01/OCT/2016	N/A	959802AB5	150,000	161,868.30	0.56%
AT&T INC 5.60% 15/MAY/2018	N/A	00206RAM4	150,000	158,430.00	0.54%
BRITISH TELECOMMUNICATIONS 8.625% NOTES	N/A	111021AE1	125,000	157,184.38	0.54%
MORGAN STANLEY CAPITAL I INC 2005-HQ6 A4A 4.989%	N/A	61745M6G3	160,000	153,924.11	0.53%
CIE FINANCEMENT FONCIER 4.375% 19/NOV/2014	N/A	B295SJ4	100,000	151,087.67	0.52%
NEW ZEALAND T-BILLS ZCP 18/NOV/2009	N/A	575081D	215,000	146,655.21	0.50%
BARCLAYS BANK PLC 5.45% SNR 12/SEP/2012 USD1000	N/A	06738GUZ1	135,000	144,497.93	0.50%
GOLDMAN SACHS GROUP INC 7.5% SRN 15/FEB/2019	N/A	38141EA25	125,000	143,911.88	0.49%
TIME WARNER CABLE INC SR NT 7.5% 01/APR/2014	N/A	88732JAR9	125,000	143,468.13	0.49%
AMERICAN EXPRESS CO 7.25% LN STK 20/MAY/2014	N/A	025816BA6	130,000	143,064.35	0.49%
TRANSCAPITILINVEST LTD 7.7% BDS 07/AUG/2013	N/A	89354FAD3	135,000	140,231.25	0.48%
BANC AMER COML MTG TRUST 2006-2 5.414% CMO	N/A	05950XAE6	155,000	139,853.12	0.48%
ML CFC COMMERCIAL MORTGAGE TRUST FLTG RATE NTS	N/A	60687VAE5	155,000	137,727.23	0.47%
PERU(REPUBLIC OF) 7.125% BDS 30/MAR/2019 USD1000	N/A	715638AW2	125,000	137,500.00	0.47%
AOL TIME WARNER INC 7.625% BDS 15/APR/2031 USD1000	N/A	00184AAC9	125,000	137,270.75	0.47%
LB UBS COMMERCIAL MORTGAGE TRUST	N/A	50179AAE7	180,000	136,629.79	0.47%
ABBEY NATIONAL TREASURY SERVICES 4.25% CVD BDS	N/A	B12M7N2	100,000	135,515.64	0.47%
BANK OF SCOTLAND PLC 4.75% 08/JUN/2022	N/A	B1YCCC4	100,000	134,862.59	0.46%
GENERAL ELECTRIC CAPITAL SERVICES 5.625% MTN	N/A	36962G3U6	135,000	134,428.28	0.46%
JPMORGAN CHASE & CO 6.75% SUB NTS 01/FEB/2011	N/A	46625HAJ9	125,000	133,056.75	0.46%
ORACLE CORP 5.75% NTS 15/APR/2018 USD1000	N/A	68389XAC9	120,000	131,687.76	0.45%
BRAZIL FEDERATIVE REP BRL BD 10.25% 10/JAN/2028	N/A	105756BN9	250,000	131,355.48	0.45%
POLAND(REPUBLIC OF) 6.375% BDS 15/JUL/2019 USD1000	N/A	731011AR3	120,000	128,744.64	0.44%
JPMORGAN CHASE & CO 2.2% 15/JUN/2012	N/A	481247AK0	125,000	126,867.75	0.44%
MORGAN STANLEY 1.95% BDS 20/JUN/2012 USD1000	N/A	61757UAH3	125,000	125,828.25	0.43%
BANK OF AMERICA CORP 3.125% BDS 15/JUN/2012	N/A	06050BAA9	120,000	124,633.80	0.43%
COMM 2007 C9 MTG FR CMO 10/DEC/2049 USD1000	N/A	20047RAE3	138,238	121,514.66	0.42%
BRITISH COLUMBIA(PROVINCE OF)CANADA 4.25% DEB	N/A	B3CW543	125,000	120,990.18	0.42%
GAZ CAPITAL SA 6.212% NTS 22/NOV/2016 USD1000	N/A	368266AE2	130,000	116,187.50	0.40%
MORGAN STANLEY CAPITAL I TRUST 2007-TO A-4	N/A	61754JAF5	125,000	115,083.55	0.40%
LB UBS COMMERCIAL MORTGAGE TRUST FR CMO	N/A	52108MDH3	125,000	112,449.13	0.39%
NORDEA HYPOTEK AB 4.25% EMTN 06/FEB/2014 EUR	N/A	B1QGX98	75,000	111,653.19	0.38%
ROYAL BANK OF CANADA 4.6250% 22/JAN/2018	N/A	B2NVJF1	75,000	110,996.66	0.38%
WPP FINANCE UK 8.00% SNR NTS 15/SEP/2014 USD1000	N/A	92931NAC4	100,000	109,527.60	0.38%
WALT DISNEY COMPANY 5.5% BDS 15/MAR/2019	N/A	25468PCK0	100,000	108,488.30	0.37%
DOW CHEMICAL CO 8.55% BDS 15/MAY/2019 USD1000	N/A	260543BX0	98,000	106,746.99	0.37%
RIO TINTO FINANCE LTD 5.875% BDS 15/JUL/2013	N/A	767201AE6	100,000	106,245.10	0.37%
METROPOLITAN LIFE GLOBAL FUNDING I 5.125% MTN	N/A	59217EBW3	100,000	104,208.50	0.36%
OWENS CORNING INC 9.00% BDS 15/JUN/2019 USD1000	N/A	690742AC5	100,000	103,720.30	0.36%
ROYAL BANK OF SCOTLAND AGG PRINC SNR FXD NTS	N/A	78010JCV2	100,000	100,152.00	0.34%
WEA FINANCE/WT FIN AUST 5.75% 02/SEP/2015	N/A	92933WAA6	100,000	98,608.00	0.34%
BAYER CAP CORP B.V 4.625% BDS 26/SEP/2014 USD1000	N/A	B3MQVZ8	65,000	98,072.27	0.34%
SOCIETE GENERALE VAR RATE BDS 29/JAN/2049 EUR1000	N/A	B05L483	100,000	97,471.20	0.34%
ONCOR ELECTRIC DELIVERY CO 5.95% SNR NTS	N/A	68233JAB0	90,000	97,316.46	0.33%
STEEL CAP SA LN PARTN NT 144A 29/JUL/2013	N/A	858057AA0	100,000	96,750.00	0.33%
MERRILL LYNCH MORTGAGE TRUST 6.022% BDS	N/A	59025KAE2	125,000	96,582.89	0.33%
KAZMUNAIGAZ FINANCE SUB 9.125% NTS 02/JUL/2018	N/A	48667QAA3	100,000	96,375.00	0.33%
HUSKY ENERGY INC 7.25% SNR NTS 15/DEC/2019 USD	N/A	448055AF0	85,000	96,119.11	0.33%
AUSTRALIA & NEW ZEALAND BANK GROUP 5.25% NTS	N/A	B2RD2T8	63,000	95,417.85	0.33%
DEUTSCHE BANK AG LONDON 4.875% 20/MAY/2013	N/A	2515A0NY5	90,000	95,095.62	0.33%
MCKESSON HBOC INC 5.25% BDS 01/MAR/2013 USD1000	N/A	581557AU9	90,000	95,018.13	0.33%
RABOBANK NEDERLAND VAR BDS 31/DEC/2049	N/A	749770AQ6	80,000	94,500.00	0.32%
FEDERATED RETAIL HOLDING 5.35% BDS 15/MAR/2012	N/A	314275AB4	95,000	90,250.00	0.31%
NOBLE ENERGY INC 8.25% NTS 01/MAR/2019 USD1000	N/A	655044AD7	75,000	89,482.65	0.31%
CONOCOPHILLIPS 6.0% NTS 15/JAN/2020 USD2000	N/A	20825CAU8	80,000	89,135.44	0.31%
VALERO ENERGY CORP 9.375% BDS 15/MAR/2019 USD1000	N/A	91913YAN0	75,000	86,489.63	0.30%
CREDIT SUISSE LONDON BRANCH 6.125% BDS 05/AUG/2013	N/A	B3CB5R3	55,000	86,187.60	0.30%
WEYERHAEUSER CO DEB 7.375% DUE 15/MAR/2032	N/A	962166BR4	100,000	84,127.10	0.29%
ARCELORMITTAL SA 9% LN STK 15/FEB/2015 USD1000	N/A	03938LAL8	75,000	82,687.50	0.28%
SEMPRA ENERGY CORP 6.5% BDS 01/JUN/2016 USD1000	N/A	816851AN9	75,000	82,487.25	0.28%
KRAFT FOODS INC 6.125% 23/AUG/2018	N/A	50075NAV6	75,000	82,461.38	0.28%
RABOBANK NEDERLAND 4.75% SNR 06/JUN/2022 EUR'APR'	N/A	B3V4WY9	55,000	81,119.02	0.28%
VERIZON COMMUNICATIONS INC 5.25% NTS 15/APR/2013	N/A	92343VAN4	75,000	80,847.15	0.28%
SARA LEE CORP 6.25% NTS 15/SEP/2011 USD1000	N/A	803111AK9	75,000	80,280.23	0.28%
EXPRESS SCRIPTS INC 5.25% LN STK 15/JUN/2012	N/A	302182AC4	75,000	79,556.25	0.27%
FREEPORT-MCMORAN COPPER & GOLD INC 8.375% BDS	N/A	35671DAS4	75,000	78,187.50	0.27%
CARREFOUR 5.375% SNR EMTN 12/JUN/2015 EUR	N/A	B39RDB4	50,000	77,850.68	0.27%
ELECTRONIC DATA SYSTEMS CORP 6% BDS 01/AUG/2013	N/A	285661AD6	70,000	77,779.45	0.27%
BNP PARIBAS HOME LOAN COVERED BONDS SA 4.75% MTN	N/A	B39J978	50,000	76,938.32	0.26%
MACQUARIE GROUP LTD 7.625% 13/AUG/2019	N/A	55608JAB4	75,000	76,692.00	0.26%
PFIZER INC 4.75% BDS 03/JUN/2016 EUR50000	N/A	B4Z6KM2	50,000	76,163.14	0.26%
NISOURCE FINANCE CORP 6.8% BDS 15/JAN/2019 USD1000	N/A	65473QAT0	75,000	76,060.28	0.26%
EMBARQ CORPORATION 7.082% BDS 01/JUN/2016 USD1000	N/A	29078EAB1	70,000	74,736.76	0.26%
CBS CORP NEW GTD SR NT 8.2% 15/MAY/2014	N/A	124857AB9	65,000	70,799.69	0.24%
UBS AG LONDON 5.625% NTS 19/MAY/2014 EUR1000	N/A	B4R5F33	45,000	68,076.02	0.23%
DEXIA CREDIT LOCAL DE FRANCE 4.3% NTS PERP	N/A	B0P2R76	100,000	67,369.80	0.23%
CANADIAN NATL RAILWAY 5.55% 01/MAR/2019	N/A	136375BT8	60,000	65,546.52	0.23%
US BANK NA FRN MTN 28/FEB/2017 EUR50000	N/A	B1S7LJ5	50,000	65,219.70	0.22%
JOHN DEERE CAPITAL CORP 5.25% MTN 01/OCT/2012	N/A	24422EQW2	60,000	64,804.08	0.22%
BAXTER INTERNATIONAL INC 5.375% NTS 01/JUN/2018	N/A	071813AY5	60,000	64,655.64	0.22%
HBOS CAPITAL FUNDING FXD/FLTG RTE NON CUM PERP	N/A	B159B27	120,000	63,642.96	0.22%
TYCO INTERNATIONAL LTD 8.5% BDS 15/JAN/2019	N/A	902118BL1	50,000	60,366.70	0.21%
VALE OVERSEAS LIMITED 6.875% GTD NTS 21/NOV/2036	N/A	91911TAH6	60,000	60,072.30	0.21%
RRI ENERGY INC 7.625% 15/JUN/2014	N/A	74971XAB3	65,000	59,475.00	0.20%
AMEREN CORP 8.875% BDS 15/MAY/2014 USD1000	N/A	023608AE2	54,000	58,795.63	0.20%
TELECOM ITALIA CAPITAL 5.25% BDS 15/NOV/2013	N/A	87927VAE8	55,000	57,543.81	0.20%
CENTRAL EUROPEAN DISTRIBUTION CORP 8% BDS	N/A	B1W07D6	40,000	55,615.92	0.19%
BARCLAYS BANK PLC VAR PERP EUR10000	N/A	B06FPT2	70,000	55,185.90	0.19%
PRINCIPAL FINANCIAL GROUP 7.875% BDS 15/MAY/2014	N/A	74251VAB8	50,000	55,186.70	0.19%
ALTRIA GROUP INC 9.7% NTS 10/NOV/2018 USD1000	N/A	02209SAD5	45,000	55,046.03	0.19%
DEVON FINANCING CO 6.875% 30/SEP/2011 USD1000	N/A	25179SAC4	50,000	54,561.20	0.19%
BHP BILLITON FINANCE 5.50% GTD SNR NTS 01/APR/2014	N/A	055451AG3	50,000	54,440.90	0.19%
VALERO ENERGY CORP(NEW) 6.875% BDS 15/APR/2012	N/A	91913YAD2	50,000	53,894.60	0.19%
INTERNATIONAL PAPER CO 7.95% BDS 15/JUN/2018	N/A	460146CA9	50,000	53,069.30	0.18%
ING GROEP NV VARIABLE PERPETUAL	N/A	456837AC7	95,000	52,725.00	0.18%
MASS MUTUAL LIFE 8.875% BDS 01/JUN/2039	N/A	575767AG3	45,000	50,498.42	0.17%
SUPERVALU INC 8% BDS 01/MAY/2016 USD1000	N/A	868536AT0	50,000	49,187.50	0.17%
DELL INC 5.625% 15/APR/2014	N/A	24702RAG6	45,000	49,061.79	0.17%
COMPAGNIE DE FINANC 3.75000 24/JAN/2017	N/A	B05LDG4	34,000	48,988.49	0.17%
TECK RESOURCES LTD 9.75% BDS 15/MAY/2014 USD100	N/A	878742AJ4	45,000	48,600.00	0.17%
UNITED STATES STEEL CORP 6.05% BDS 01/JUN/2017	N/A	912909AC2	50,000	46,477.10	0.16%
PRUDENTIAL FINANCIAL INC 5.15% BDS 15/JAN/2013	N/A	74432QBE4	46,000	46,350.06	0.16%
SLM CORP 8.45% NTS 15/JUN/2018 USD1000'TR 104'	N/A	78442FEH7	60,000	46,157.70	0.16%
COMMERZBANK CAP FUND 5.012% BDS 29/MAR/2049	N/A	B11JGB5	100,000	45,868.80	0.16%
ROYAL BANK SCOTLND GRP PLC VAR PERP	N/A	780097AU5	100,000	44,000.00	0.15%
ECOPETROL SA 7.625% NTS 23/JUL/2019 USD1000'144A'	N/A	279158AA7	41,000	43,718.30	0.15%
COMCAST CORP 5.9% BDS 15/MAR/2016 USD1000	N/A	20030NAL5	40,000	42,670.32	0.15%
CANADIAN NATURAL RESOURCES 5.15% NTS 01/FEB/2013	N/A	136385AM3	40,000	41,841.36	0.14%
WEATHERFORD INTERNATIONAL 5.15% BDS 15/MAR/2013	N/A	947075AC1	40,000	41,681.56	0.14%
BAUSCH & LOMB INC 9.875% BDS 01/NOV/2015 USD1000	N/A	071707AP8	40,000	40,100.00	0.14%
SOUTHERN CO SR NT 4.15% 15/MAY/2014	N/A	842587CE5	39,000	40,105.22	0.14%
DOW CHEMICAL CO 7.6% BDS 15/MAY/2014 USD1000	N/A	260543BW2	37,000	39,952.97	0.14%
ABN AMRO BANK NV VAR BDS 31/DEC/2049 EUR1000	N/A	B0ZXTD9	55,000	39,418.50	0.14%
PARKER-HANNIFIN CORP 5.5% BDS 15/MAY/2018 USD2000	N/A	70109HAH8	37,000	38,810.60	0.13%
HARTFORD FINANCIAL SERVICES GRP INC 6.3% SNR NTS	N/A	416515AU8	40,000	36,296.52	0.12%
XEROX CORP 8.25% BDS 15/MAY/2014 USD1000	N/A	984121BY8	30,000	33,781.68	0.12%
WILLIAMS COMPANIES INC 7.875% BDS 01/SEP/2021	N/A	969457BG4	29,000	31,402.19	0.11%
GOODYEAR TIRE & RUBBER CO 9% SNR NTS 01/JUL/2015	N/A	382550AU5	30,000	30,450.00	0.10%
DTE ENERGY COOMPANY 7.625% 15/MAY/2014	N/A	233331AN7	28,000	30,323.30	0.10%
INGERSOLL-RAND PLC 9.5% BDS 15/APR/2014 USD1000	N/A	45687AAE2	25,000	29,314.23	0.10%
ALCOA INC 6.75% SNR NTS 15/JUL/2018 USD1000	N/A	013817AS0	30,000	29,218.44	0.10%
TELUS CORP 4.95% UNS 15/MAY/2014 CAD1000	N/A	B4XH1L3	30,000	28,883.33	0.10%
COMPAGNIE DE FINANCEMENT FONCIER 4.625% MTN	N/A	B28J3J2	19,000	28,726.65	0.10%
CSC HOLDINGS INC 8.50% BDS 15/APR/2014 USD1000	N/A	126304AW4	28,000	28,420.00	0.10%
KBC BK FUNDING III 9.86% NTS 29/NOV/2049 USD'144A	N/A	48239AAA7	51,000	27,986.25	0.10%
ING CAPITAL FUNDING TRUST III VAR% PERP GTD BDS	N/A	44978NAA3	40,000	22,800.00	0.08%
FLEXTRONICS INTERNATIONAL 6.5% BDS 15/MAY/2013	N/A	33938EAJ6	23,000	22,022.50	0.08%
MACQUARIE BANK LTD VAR 31/MAY/2017	N/A	B1WRPB1	30,000	21,548.87	0.07%
LINCOLN NATIONAL CORP 8.75% NTS 01/JUL/2019	N/A	534187AX7	19,000	21,246.83	0.07%
BBVA INTL PREFERRED SA UNIPERSONAL GTD PFD FXD TO	N/A	05530RAB4	30,000	20,160.00	0.07%
HUMANA INC 7.2% SNR NTS 15/JUN/2018 USD1000	N/A	444859AY8	20,000	19,366.78	0.07%
BUNGE LTD FINANCE CORP 8.50% BDS 15/JUN/2019	N/A	120568AT7	16,000	18,047.31	0.06%
CRICKET COMMUNICATIONS 7.75% BDS 15/MAY/2016	N/A	226566AJ6	15,000	14,550.00	0.05%
AES CORPORATION 7.75% 01/MAR/2014	N/A	00130HBC8	14,000	13,632.50	0.05%
NATIONAL CAPITAL TRST II VAR PERP 144A	N/A	635192AA5	18,000	12,960.00	0.04%
SWEDEN(KINGDOM OF) 6.75% BDS 05/MAY/2014 SEK100000	N/A	5357336	75,000	12,393.87	0.04%
TEXTRON FINANCIAL CORP 5.125% BDS 03/FEB/2011	N/A	88319QJ20	11,000	10,681.29	0.04%
PRUDENTIAL FINANCIAL INC 6.20% BDS 15/JAN/2015	N/A	74432QBF1	10,000	10,475.54	0.04%
HCA INC 8.5% BDS 15/APR/2019 USD1000'144A'	N/A	404119BE8	10,000	10,125.00	0.03%
TEXTRON FINANCIAL CORP 5.4% MTN 28/APR/2013	N/A	88319QM59	11,000	9,698.30	0.03%
HUMANA INC 6.45% 01/JUN/2016	N/A	444859AV4	10,000	9,497.11	0.03%
HUMANA INC 6.3% 01/AUG/2018	N/A	444859AU6	10,000	9,078.33	0.03%
UNIVISION COMMUNICATIONS INC 12% BDS 01/JUL/2014	N/A	914906AF9	7,000	7,350.00	0.03%
TEXTRON FINANCIAL CORP 4.6% MTN 03/MAY/2010	N/A	88319QH22	6,000	5,912.78	0.02%
WHIRLPOOL CORP 8.6% LN STK 01/MAY/2014 USD1000	N/A	96332HCB3	5,000	5,491.37	0.02%
PRUDENTIAL FINANCIAL INC 7.375% BDS 15/JUN/2019	N/A	74432QBG9	5,000	5,434.04	0.02%

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The mutual funds described in this site are sold only to persons residing in the United States and are offered by prospectus only. Investing in mutual funds involves risk, including possible loss of principal. Investors should carefully consider a fund's investment objectives, risks, fees, charges and expenses and read its prospectus carefully before investing to obtain this information. For information on Nationwide Funds or to obtain a prospectus, please call 800-848-0920.

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