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Alliance Bernstein NVIT Global Fixed Income Fund

Top Holdings (all classes) as of 03/31/201102/28/201101/31/2011

View all holdings as of 03/31/2011 | 02/28/2011 | 01/31/2011

Holding	Percent
EUROPEAN INVESTMENT BANK 1.4% SNR NTS 20/JUN/2017	4.07%
DEUTSCHLAND REP 3.50 04/JAN/2016	3.01%
TREASURY 4.75% GILT 07/DEC/2030 GBP	2.57%
AUSTRIA(REPUBLIC OF) BDS 15/SEP/2016 EUR1000	2.53%
CANADA(GOVT OF) 2% BDS 01/DEC/2014 CAD1000	2.49%
UNITED STATES OF AMER TREAS NOTES 4.5% 15/NOV/2015	2.42%
GERMANY(FEDERAL REPUBLIC) 3.0% BDS 04/JUL/2020	2.38%
S0UTH AFRICA (GOVT OF) 8.25% BDS 15/SEP/2017 ZAR	2.01%
GERMANY(FEDERAL REPUBLIC) 6.25% BDS 04/JAN/2030	1.97%
UNITED STATES TREAS NTS 2.625% 15/NOV/2020	1.96%

Holding	Ticker	Security No	Shares	Market Value	Percent
EUROPEAN INVESTMENT BANK 1.4% SNR NTS 20/JUN/2017	N/A	B0BVDQ8	122,700,000	1,545,425.53	4.07%
DEUTSCHLAND REP 3.50 04/JAN/2016	BB29	B0S5YP9	776,000	1,142,857.29	3.01%
TREASURY 4.75% GILT 07/DEC/2030 GBP	TR30	B24FF09	576,000	977,492.19	2.57%
AUSTRIA(REPUBLIC OF) BDS 15/SEP/2016 EUR1000	N/A	B138LV5	650,000	960,109.07	2.53%
CANADA(GOVT OF) 2% BDS 01/DEC/2014 CAD1000	N/A	B3XQ210	930,000	945,712.64	2.49%
UNITED STATES OF AMER TREAS NOTES 4.5% 15/NOV/2015	N/A	912828EN6	827,000	917,517.63	2.42%
GERMANY(FEDERAL REPUBLIC) 3.0% BDS 04/JUL/2020	N/A	B3TKJ71	655,000	904,335.30	2.38%
S0UTH AFRICA (GOVT OF) 8.25% BDS 15/SEP/2017 ZAR	N/A	B012985	5,221,000	763,747.02	2.01%
GERMANY(FEDERAL REPUBLIC) 6.25% BDS 04/JAN/2030	BB14	5880508	401,000	748,970.24	1.97%
UNITED STATES TREAS NTS 2.625% 15/NOV/2020	N/A	912828PC8	798,000	744,633.75	1.96%
UNITED STATES TREAS NTS 2.625% 31/DEC/2014	N/A	912828ME7	625,000	647,070.00	1.70%
ONTARIO (PROVINCE OF) 4.75% DUE 02/JUN/2013	N/A	2802505	544,000	592,525.14	1.56%
QUEBEC (PROVINCE OF) 5.25% DUE 01/OCT/2013	N/A	B622VK2	534,000	591,007.74	1.56%
ITALY(REPUBLIC OF) 3.75% TB 01/MAR/2021 EUR1000	N/A	B63Q9G5	450,000	587,167.22	1.55%
NEW ZEALAND 6% BDS 15/MAY/2021 NZD1000	N/A	B503GR2	720,000	562,714.94	1.48%
TREASURY INDEX-LINKED STK 16/AUG/2013	T13I	0903671	123,000	557,971.88	1.47%
CANADA(GOVT OF) 3.5% BDS 01/JUN/2013 CAD1000	N/A	B2PZ3C6	489,000	521,573.10	1.37%
BELGIUM(KINGDOM OF) 3.75% BDS 28/SEP/2015 EUR0.01	N/A	B06HZF4	361,000	519,099.16	1.37%
NETHERLANDS(KINGDOM OF) 2.75% GTD 15/JAN/2015 EUR1	N/A	B66T6Q0	350,000	500,285.77	1.32%
FEDERAL NATIONAL MORTGAGE ASSOC 6% MTG BD	N/A	31413UJN0	438,793	478,071.13	1.26%
TREASURY 5% STK 07/MAR/2025	TR25	3088069	259,000	456,047.72	1.20%
CANADA(GOVT OF) 4.25% BDS 01/JUN/2018 CAD1000	N/A	B28XMW0	410,000	454,949.87	1.20%
NETHERLANDS(KINGDOM OF) 7.5% BDS 15/JAN/2023 EUR1	N/A	4283380	218,000	420,319.75	1.11%
UNITED STATES OF AMER TREAS BONDS 5.375% BDS	N/A	912810FP8	359,000	410,550.25	1.08%
UNITED STATES TREAS NTS 03.875% 15/MAY/2018	N/A	912828HZ6	359,000	381,717.88	1.01%
TREASURY 4.75% GILT 07/SEP/2015 GBP	T4T	3328033	215,000	378,155.10	1.00%
MEXICAN BONDS 9.5% BDS 18/DEC/2014 MXN100	N/A	B05M9C5	4,093,000	376,800.52	0.99%
TREASURY 4% STK 07/SEP/2016	T16	B0V3WX4	221,000	376,544.40	0.99%
TREASURY 4.5% GILT 07/MAR/2019 GBP0.01	T19	B39R3F8	217,000	373,687.14	0.98%
FRANCE (GOVT OF ) 3.5% OAT 25/APR/2015 EUR1	N/A	B064GG3	233,000	340,543.10	0.90%
FRANCE(GOVT OF) 5% OAT 25/OCT/2016 EUR1	N/A	7033418	190,000	295,683.19	0.78%
SPAIN(KINGDOM OF) 4% BDS 30/APR/2020 EUR1000	N/A	B6305Y7	223,000	292,174.91	0.77%
BANK OF AMERICA CORP 4.9% MTN 01/MAY/2013 USD1000	N/A	06051GDW6	275,000	290,197.05	0.76%
NETHERLANDS(KINGDOM OF) 4.5% BDS 15/JUL/2017 EUR1	N/A	B236N21	184,000	280,543.81	0.74%
UNITED STATES TREAS NTS 2.750% 15/FEB/2019	N/A	912828KD1	280,000	273,590.52	0.72%
FEDERAL HOME LOAN MORTGAGE CORP 4.75% NTS	N/A	3134A4ZT4	246,000	272,473.54	0.72%
JAPAN FINANCE ORGANIZATION FOR MUNICIPALITIES 2%	N/A	B1405Y1	20,000,000	256,869.44	0.68%
CITIGROUP INC 5.5% NTS 11/APR/2013 USD1000	N/A	172967EQ0	220,000	235,403.74	0.62%
TREASURY 5.25% TREASURY GILT 07/JUN/2012	TR12	B1L6WG3	135,000	227,282.74	0.60%
QUEBEC 4.25% BDS 27/FEB/2013 EUR1000	N/A	7548376	155,000	226,409.53	0.60%
COLOMBIA(REP OF) 7.75% BDS 14/APR/2021 COP	N/A	B5W0TD8	381,000,000	219,581.41	0.58%
JP MORGAN CHASE COML MTG SEC TST 06 5.552% NTS	N/A	46629GAE8	200,000	214,088.64	0.56%
WELLS FARGO COMPANY 4.375% 31/JAN/2013	N/A	949746NY3	200,000	210,660.80	0.55%
LB UBS COMMERCIAL MORTGAGE TRUST	N/A	50179AAE7	180,000	191,154.15	0.50%
KREDITANSTALT FUER WIEDERAUFBAU KFW 5.375% BDS	N/A	B01YW71	109,000	189,390.76	0.50%
SUNCORP METWAY LIMITED 4% NTS 16/JAN/2014 GBP50000	N/A	B3KZG63	113,000	189,214.97	0.50%
EUROPEAN INVESTMENT BANK 6.25% BDS 15/APR/2014	N/A	5794483	106,000	189,107.78	0.50%
TREASURY 5% GILT 07/MAR/2018 GBP	T18	B1VWPC8	100,545	179,577.00	0.47%
AT&T INC 5.60% 15/MAY/2018	N/A	00206RAM4	150,000	164,681.10	0.43%
BANC AMER COML MTG TRUST 2006-2 5.414% CMO	N/A	05950XAE6	155,000	164,542.96	0.43%
ML CFC COMMERCIAL MORTGAGE TRUST FLTG RATE NTS	N/A	60687VAE5	155,000	164,161.55	0.43%
TRANSCAPITILINVEST LTD 7.7% BDS 07/AUG/2013	N/A	89354FAD3	135,000	151,156.40	0.40%
COMM 2007-C9 A-4 10/DEC/2049 FLT	N/A	20047RAE3	138,238	149,994.85	0.40%
CIE FINANCEMENT FONCIER 4.375% 19/NOV/2014	N/A	B295SJ4	100,000	147,000.35	0.39%
LLOYDS TSB BANK 4% MTN 17/NOV/2011 GBP1000	N/A	B3FHFW3	90,000	146,946.05	0.39%
GENERAL ELECTRIC CAPITAL SERVICES 5.625% MTN	N/A	36962G3U6	135,000	145,951.07	0.38%
EUROPEAN BANK FOR REC & DEV 9.25% NTS 10/SEP/2012	79WO	B62GT66	235,000	143,770.80	0.38%
TIME WARNER CABLE INC 7.50% BDS 01/APR/2014	N/A	88732JAR9	125,000	143,276.75	0.38%
GAZ CAPITAL SA 6.212% NTS 22/NOV/2016 USD1000	N/A	368266AE2	130,000	141,960.00	0.37%
POLAND(REPUBLIC OF) 4.675% MTN 15/OCT/2019	N/A	B54LFM0	100,000	140,416.18	0.37%
BANK OF SCOTLAND PLC 4.75% 08/JUN/2022	N/A	B1YCCC4	100,000	138,048.88	0.36%
RSHB CAPITAL 7.75% NTS 29/MAY/2018 USD100000	N/A	74973DAD1	123,000	137,600.10	0.36%
MORGAN STANLEY CAP 2007-TOP27 A-4 11/JUN/2042 FLT	N/A	61754JAF5	125,000	137,276.64	0.36%
BRITISH COLUMBIA(PROVINCE OF)CANADA 4.25% DEB	N/A	B3CW543	125,000	136,097.22	0.36%
ORACLE CORP 5.75% NTS 15/APR/2018 USD1000	N/A	68389XAC9	120,000	134,374.08	0.35%
MERRILL LYNCH MORTGAGE TRUST 6.022% BDS	N/A	59025KAE2	125,000	134,111.20	0.35%
LB UBS COMMERCIAL MORTGAGE TRUST FR CMO	N/A	52108MDH3	125,000	133,660.26	0.35%
ANGLO AMERICAN CAP 9.375% GTD 08/APR/2019 USD'144A	N/A	034863AB6	100,000	133,241.70	0.35%
BANCO BILBAO VIZCAYA ARGENTARIA SA 3.25% NTS	N/A	B0WW553	100,000	133,142.82	0.35%
PETROBRAS INTL FIN CO 5.75% 20/JAN/2020	N/A	71645WAP6	120,000	123,796.08	0.33%
NATIONAL COMPANY KAZMUNAYGAS JSC 9.125% NTS	N/A	48667QAA3	100,000	121,000.00	0.32%
WPP FINANCE UK 8.00% SNR NTS 15/SEP/2014 USD1000	N/A	92931NAC4	100,000	116,561.50	0.31%
STEEL CAPITAL S.A. 9.75% 29/JUL/2013 USD'144A	N/A	858057AA0	100,000	113,000.00	0.30%
ROYAL BANK OF CANADA 4.6250% 22/JAN/2018	N/A	B2NVJF1	75,000	111,912.32	0.29%
AOL TIME WARNER INC 7.625% BDS 15/APR/2031 USD1000	N/A	00184AAC9	96,000	110,742.53	0.29%
NORDEA HYPOTEK AB 4.25% EMTN 06/FEB/2014 EUR	N/A	B1QGX98	75,000	110,411.61	0.29%
WEA FINANCE LLC/WCI FINANCE LLC 5.75% NTS	N/A	92933WAA6	100,000	109,709.40	0.29%
METROPOLITAN LIFE GLOBAL FUNDING I 5.125% MTN	N/A	59217EBW3	100,000	108,379.10	0.29%
STANDARD CHARTERED BANK 6.4% DATED SUB NTS	N/A	853250AB4	100,000	108,016.10	0.28%
ALLEGHENY ENERGY SUPPLY CO 5.75% NTS 15/OCT/2019	N/A	017363AK8	105,000	107,094.96	0.28%
NOBLE GROUP 6.75% BDS 29/JAN/2020 USD1000'144A'	N/A	65504RAD6	100,000	107,000.00	0.28%
BRITISH TELECOM 9.875%-VAR BDS 15/DEC/2030 USD	N/A	111021AE1	77,000	106,508.25	0.28%
PETRONAS CAPITAL 5.25% BDS 12/AUG/2019	N/A	716743AD1	100,000	106,356.40	0.28%
WEYERHAEUSER CO DEB 7.375% DUE 15/MAR/2032	N/A	962166BR4	100,000	105,448.70	0.28%
ROYAL BANK OF SCOTLAND PLC AGG PRINC SNR FXD NTS	N/A	78010JCV2	100,000	103,832.40	0.27%
MORGAN STANLEY 4% BDS 24/JUL/2015 USD100000	N/A	6174467N3	100,000	101,628.00	0.27%
REPUBLIC SERVICES, INC. 5.25% 15/NOV/2021	N/A	760761AD8	97,000	101,544.64	0.27%
NATIONWIDE BUILDING SOCIETY 4.65% NTS 25/FEB/2015	N/A	63859UAX1	100,000	101,304.80	0.27%
HUSKY ENERGY INC 7.25% SNR NTS 15/DEC/2019 USD	N/A	448055AF0	85,000	100,622.75	0.26%
MORGAN STANLEY 5.5% BDS 24/JUL/2020 USD1000	N/A	6174467P8	100,000	99,929.70	0.26%
SANTANDER US DEBT SA UNI 2.991% SNR NTS	N/A	802815AS9	100,000	99,369.60	0.26%
ORIX CORP 4.71% NTS 27/APR/2015 USD1000	N/A	686330AE1	97,000	98,497.49	0.26%
GERMANY(FEDERAL REPUBLIC) 3.75% BDS 04/JAN/2015	BB26	B04FJB4	65,000	96,741.40	0.25%
MCKESSON HBOC INC 5.25% BDS 01/MAR/2013 USD1000	N/A	581557AU9	90,000	96,409.98	0.25%
UNICREDITO ITALIANO SPA 6% MTN 31/OCT/2017	N/A	90466GAC6	100,000	96,317.60	0.25%
NOBLE ENERGY INC 8.25% NTS 01/MAR/2019 USD1000	N/A	655044AD7	75,000	94,358.03	0.25%
WESTERN UNION COMPANY (THE) 5.93% NTS 01/OCT/2016	N/A	959802AB5	83,000	92,173.24	0.24%
CONOCOPHILLIPS 6.0% NTS 15/JAN/2020 USD2000	N/A	20825CAU8	80,000	91,867.92	0.24%
DOW CHEMICAL CO 8.55% BDS 15/MAY/2019 USD1000	N/A	260543BX0	72,000	91,011.17	0.24%
BELL CANADA 4.85% MTN 30/JUN/2014 CAD1000	N/A	B68XDT2	83,000	90,092.03	0.24%
POLAND(REPUBLIC OF) 3.875% BDS 16/JUL/2015 USD1000	N/A	B4KSJP9	89,000	89,876.65	0.24%
ARCELORMITTAL SA 9% LN STK 15/FEB/2015 USD1000	N/A	03938LAL8	75,000	89,768.48	0.24%
CALIFORNIA STATE 7.625% MUNI BDS 01/MAR/2040	N/A	13063BFR8	80,000	87,516.00	0.23%
GERMANY(FEDERAL REPUBLIC) 3.75% BDS 04/JUL/2013	BB23	7624641	59,000	87,064.75	0.23%
XL CAPITAL LTD 5.25% 15/SEP/2014	N/A	98372PAF5	82,000	86,385.11	0.23%
NISOURCE FINANCE CORP 6.8% BDS 15/JAN/2019 USD1000	N/A	65473QAT0	75,000	85,801.88	0.23%
SEMPRA ENERGY CORP 6.5% BDS 01/JUN/2016 USD1000	N/A	816851AN9	75,000	85,597.43	0.23%
BMW FINANCE NV 2.875% MTN 18/APR/2013 EUR1000	N/A	B5MPLX7	60,000	85,379.02	0.22%
WHIRLPOOL CORP 8.6% LN STK 01/MAY/2014 USD1000	N/A	96332HCB3	73,000	84,697.74	0.22%
VIACOM INC 5.625% BDS 15/SEP/2019 USD1000	N/A	92553PAD4	76,000	83,155.78	0.22%
MACQUARIE GROUP LTD 7.625% 13/AUG/2019	N/A	55608JAB4	75,000	83,148.15	0.22%
OWENS CORNING INC 9.00% BDS 15/JUN/2019 USD1000	N/A	690742AC5	70,000	82,730.27	0.22%
AHOLD FINANCE USA INC 6.875% NTS 01/MAY/2029	N/A	008685AB5	75,000	82,175.03	0.22%
BUNGE LTD FINANCE CORP 8.50% BDS 15/JUN/2019	N/A	120568AT7	68,000	80,747.62	0.21%
FIRSTENERGY SOLUTIONS CORP 6.05% NTS 15/AUG/2021	N/A	33766JAD5	77,000	79,787.79	0.21%
EMBARQ CORPORATION 7.082% BDS 01/JUN/2016 USD1000	N/A	29078EAB1	70,000	79,603.30	0.21%
EXPRESS SCRIPTS INC 5.25% LN STK 15/JUN/2012	N/A	302182AC4	75,000	78,582.68	0.21%
ANADARKO PETROLEUM CORP 5.95% SNR NTS 15/SEP/2016	N/A	032511AX5	72,000	78,291.72	0.21%
BNP PARIBAS 4.80 24/JUN/2015	N/A	05567MAA3	75,000	77,990.93	0.21%
NABORS INDUSTRIES INC 6.15% GTD SNR NTS	N/A	629568AQ9	71,000	77,734.21	0.20%
CBS CORP NEW GTD SR NT 8.2% 15/MAY/2014	N/A	124857AB9	65,000	76,185.40	0.20%
CONSTELLATION ENERGY GROUP INC 5.15% BDS	N/A	210371AL4	75,000	74,409.83	0.20%
SAN DIEGO CNTY CALIF WTR AUTH FING AGY WTR REV SER	N/A	79741TAR5	75,000	74,389.50	0.20%
HCP INC 5.375% BDS 01/FEB/2021 USD1000	N/A	40414LAD1	73,000	73,721.39	0.19%
WYNDHAM WORLDWIDE 6% SNR NTS 01/DEC/2016 USD1000	N/A	98310WAB4	69,000	73,115.16	0.19%
AMER TOWER CORP 5.05% SR NT 01/SEP/2020 USD	N/A	029912BC5	75,000	72,864.83	0.19%
BARCLAYS BANK PLC VAR PERP EUR10000	N/A	B06FPT2	70,000	72,170.91	0.19%
HUMANA INC 7.2% SNR NTS 15/JUN/2018 USD1000	N/A	444859AY8	63,000	71,605.99	0.19%
AVIATION CAPITAL GROUP TRUST 7.125% BDS	N/A	05367AAA1	68,000	70,932.84	0.19%
MOHAWK INDUSTRIES VAR BDS 15/JAN/2016 USD1000	N/A	608190AH7	66,000	70,785.00	0.19%
US BANK NA FRN MTN 28/FEB/2017 EUR50000	N/A	B1S7LJ5	50,000	69,934.57	0.18%
GERMANY(FEDERAL REPUBLIC) 3.75% BDS 04/JAN/2017	BB31	B1HNZP8	47,000	69,759.64	0.18%
HSBC COVERED BONDS 3.375% MTG 20/JAN/2017 EUR5000	N/A	B60PDY1	50,000	69,399.29	0.18%
NEWELL RUBBERMAID INC 4.7% LN STK 15/AUG/2020	N/A	651229AK2	70,000	69,083.63	0.18%
NISSAN MOTOR ACCEPTANCE 4.50% NTS 30/JAN/2015	N/A	654742AB1	66,000	68,984.06	0.18%
UBS AG LONDON 5.625% NTS 19/MAY/2014 EUR1000	N/A	B4R5F33	45,000	67,740.23	0.18%
JC PENNEY CO INC 5.65% SRN 01/JUN/2020 USD1000	N/A	708130AD1	70,000	67,462.50	0.18%
RRI ENERGY INC 7.625% 15/JUN/2014	N/A	74971XAB3	65,000	67,275.00	0.18%
SLM CORP 8.45% NTS 15/JUN/2018 USD1000'TR 104'	N/A	78442FEH7	60,000	67,200.00	0.18%
CANADIAN NATL RAILWAY 5.55% 01/MAR/2019	N/A	136375BT8	60,000	66,832.50	0.18%
ASCIANO LTD 4.625% NTS 23/SEP/2020 USD1000'144A'	N/A	04363UAB2	69,000	65,350.11	0.17%
UNIVERSAL HEALTH SERVICES INC 7.125% BDS	N/A	913903AN0	60,000	65,234.28	0.17%
TYCO INTERNATIONAL LTD 8.5% BDS 15/JAN/2019	N/A	902118BL1	50,000	64,504.35	0.17%
VALE OVERSEAS LIMITED 6.875% GTD NTS 21/NOV/2036	N/A	B1HMKF0	60,000	64,068.00	0.17%
VALERO ENERGY CORP 9.375% BDS 15/MAR/2019 USD1000	N/A	91913YAN0	50,000	63,914.45	0.17%
HARLEY-DAVIDSON FDG 5.75% BDS 15/DEC/2014	N/A	41283DAC7	59,000	63,219.27	0.17%
CIGNA CORP 5.125% BDS 15/JUN/2020 USD1000	N/A	125509BM0	60,000	62,543.04	0.16%
AMEREN CORP 8.875% BDS 15/MAY/2014 USD1000	N/A	023608AE2	54,000	62,118.74	0.16%
MASS MUTUAL LIFE 8.875% BDS 01/JUN/2039	N/A	575767AG3	45,000	61,540.16	0.16%
ABN AMRO BANK NV VAR BDS 31/DEC/2049 EUR1000	N/A	B0ZXTD9	55,000	61,382.47	0.16%
INTERNATIONAL PAPER CO 7.95% BDS 15/JUN/2018	N/A	460146CA9	50,000	60,153.75	0.16%
FORD MOTOR CO 7.45% BDS 16/JUL/2031 USD1000	N/A	345370CA6	55,000	59,543.55	0.16%
ALTRIA GROUP INC 9.7% NTS 10/NOV/2018 USD1000	N/A	02209SAD5	45,000	59,180.27	0.16%
COVENTRY HEALTH CARE INC 6.3% 15/AUG/2014	N/A	222862AH7	55,000	58,417.48	0.15%
TELECOM ITALIA CAPITAL 5.25% BDS 15/NOV/2013	N/A	87927VAE8	55,000	58,076.81	0.15%
PRINCIPAL FINANCIAL GROUP 7.875% BDS 15/MAY/2014	N/A	74251VAB8	50,000	57,767.45	0.15%
EQT CORP 8.125% LN STK 01/JUN/2019 USD2000	N/A	26884LAA7	46,000	54,832.64	0.14%
VALERO ENERGY CORP(NEW) 6.875% BDS 15/APR/2012	N/A	91913YAD2	50,000	52,855.30	0.14%
GOLDMAN SACHS GROUP INC 7.5% SRN 15/FEB/2019	N/A	38141EA25	45,000	52,271.28	0.14%
UNITED STATES STEEL CORP 6.05% BDS 01/JUN/2017	N/A	912909AC2	50,000	51,562.50	0.14%
CMS ENERGY CORP 8.75% BDS 15/JUN/2019 USD1000	N/A	125896BC3	43,000	51,317.36	0.14%
ANGLOGOLD ASHANTI HLDGS FINANCE PLC 5.375% BDS	N/A	03512TAA9	50,000	50,716.70	0.13%
SUPERVALU INC 8% BDS 01/MAY/2016 USD1000	N/A	868536AT0	50,000	50,000.00	0.13%
CNF INC 6.7% BDS 01/MAY/2034 USD1000	N/A	12612WAB0	54,000	49,454.55	0.13%
PRUDENTIAL FINANCIAL INC 5.15% BDS 15/JAN/2013	N/A	74432QBE4	46,000	48,628.39	0.13%
HARTFORD FINL SVCS GRP 4.00% 30/MAR/2015	N/A	416515AY0	47,000	47,713.27	0.13%
ECOPETROL SA 7.625% NTS 23/JUL/2019 USD1000	N/A	279158AB5	41,000	47,252.50	0.12%
WILLIAMS PARTNERS L.P. 5.25% NTS 15/MAR/2020	N/A	96950FAD6	44,000	45,899.57	0.12%
COMCAST CORP 5.9% BDS 15/MAR/2016 USD1000	N/A	20030NAL5	40,000	44,493.88	0.12%
TEXAS TRANSN COMMN ST HWY FD REV FIRST TIER-SER	N/A	88283LHU3	45,000	44,225.10	0.12%
HARTFORD FINANCIAL SERVICES GRP INC 6.3% SNR NTS	N/A	416515AU8	40,000	42,937.44	0.11%
HESS CORP 8.125% BDS 15/FEB/2019 USD1000	N/A	42809HAB3	34,000	42,681.93	0.11%
WEATHERFORD INTERNATIONAL LTD 5.15% BDS	N/A	947075AC1	40,000	42,337.92	0.11%
GOLDMAN SACHS GROUP INC 6.00% 15/JUN/2020	N/A	38141EA66	40,000	42,285.00	0.11%
PARKER-HANNIFIN CORP 5.5% BDS 15/MAY/2018 USD2000	N/A	70109HAH8	37,000	41,439.22	0.11%
SOUTHERN CO 4.15% SNR NTS 15/MAY/2014 USD1000	N/A	842587CE5	39,000	41,260.75	0.11%
GUARDIAN LIFE INSURANCE 7.325% 30/SEP/2039	N/A	401378AA2	35,000	40,887.74	0.11%
CVS CAREMARK CORP 6.6% BDS 15/MAR/2019 USD1000	N/A	126650BN9	35,000	40,147.80	0.11%
WELLPOINT INC 4.35% NTS 15/AUG/2020 USD1000	N/A	94973VAS6	40,000	39,906.76	0.11%
JEFFERIES GROUP INC 6.875% 15/APR/2021	N/A	472319AH5	37,000	39,298.85	0.10%
MARRIOTT INTERNATIONAL INC 6.2% BDS 15/JUN/2016	N/A	571903AF0	35,000	38,986.47	0.10%
ING CAPITAL FUNDING TRUST III VAR% PERP GTD BDS	N/A	44978NAA3	40,000	38,783.12	0.10%
SOUTHWEST AIRLINES CO 5.75% BDS 15/DEC/2016	N/A	844741AY4	35,000	37,856.88	0.10%
AMERICAN EXPRESS CO 7.25% LN STK 20/MAY/2014	N/A	025816BA6	33,000	37,535.49	0.10%
SOUTHWEST AIRLINES CO 5.25% 01/OCT/2014	N/A	844741AW8	35,000	37,379.58	0.10%
EDISON MISSION ENERGY 7% SNR NTS 15/MAY/2017	N/A	281023AU5	45,000	36,112.50	0.10%
NALCO HLDG CO 6.625% BDS 15/JAN/2019 USD1000 144A	N/A	629855AQ0	35,000	36,006.25	0.09%
CHESAPEAKE ENERGY CORP 6.125% BDS 15/FEB/2021	N/A	165167CG0	34,000	35,105.00	0.09%
XEROX CORP 8.25% BDS 15/MAY/2014 USD1000	N/A	984121BY8	30,000	35,071.23	0.09%
TESORO CORP 6.5% 01/JUN/2017	N/A	881609AT8	33,000	33,990.00	0.09%
UNITEDHEALTH GROUP INC 6% 15/FEB/2018	N/A	91324PBJ0	30,000	33,367.20	0.09%
ALCOA INC 6.75% SNR NTS 15/JUL/2018 USD1000	N/A	013817AS0	30,000	33,216.81	0.09%
TELUS CORP 4.95% UNS 15/MAY/2014 CAD1000	N/A	B4XH1L3	30,000	32,498.40	0.09%
DIRECTV HLDGS/FINANCE 4.75% NTS 01/OCT/2014	N/A	25459HAL9	30,000	32,303.16	0.08%
DCP MIDSTREAM LLC 9.75% BDS 15/MAR/2019	N/A	23311RAC0	25,000	32,222.60	0.08%
DTE ENERGY COOMPANY 7.625% 15/MAY/2014	N/A	233331AN7	28,000	32,167.80	0.08%
CSC HOLDINGS INC 8.50% BDS 15/APR/2014 USD1000	N/A	126307AA5	28,000	31,395.00	0.08%
MACQUARIE BANK LTD VAR 31/MAY/2017	N/A	B1WRPB1	30,000	30,195.41	0.08%
MARKEL CORP 7.125% SR NTS 30/SEP/2019 USD1000	N/A	570535AH7	27,000	30,129.27	0.08%
INGERSOLL-RAND PLC 9.5% BDS 15/APR/2014 USD1000	N/A	45687AAE2	25,000	30,004.58	0.08%
GEORGIA PACIFIC CORP 5.4% BDS 01/NOV/2020 USD1000	N/A	37331NAB7	30,000	29,624.19	0.08%
TOLL BROTHERS FINANCE CORP 8.91% BDS 15/OCT/2017	N/A	88947EAH3	25,000	29,001.65	0.08%
CASE NEW HOLLAND INC 7.875% BDS 01/DEC/2017	N/A	147446AQ1	26,000	28,892.50	0.08%
COMPAGNIE DE FINANCEMENT FONCIER 4.625% MTN	N/A	B28J3J2	19,000	27,904.24	0.07%
WILLIAMS COMPANIES INC 7.875% BDS 01/SEP/2021	N/A	969457BG4	22,000	27,378.01	0.07%
WELLPOINT INC 7.00% BDS 15/FEB/2019 USD1000	N/A	94973VAR8	23,000	27,261.83	0.07%
RYDER SYSTEM INC 5.85% MTN 01/NOV/2016 USD1000	N/A	78355HJK6	24,000	26,442.84	0.07%
AES CORPORATION 7.75% 01/MAR/2014	N/A	00130HBC8	24,000	25,920.00	0.07%
TECO FINANCE 5.15% BDS 15/MAR/2020 USD1000	N/A	87875UAK8	25,000	25,898.10	0.07%
LINCOLN NATIONAL CORP 8.75% NTS 01/JUL/2019	N/A	534187AX7	19,000	24,058.94	0.06%
RYDER SYSTEM INC 7.20% 01/SEP/2015	N/A	78355HJN0	20,000	23,190.84	0.06%
WELLPOINT INC 5.875% BDS 15/JUN/2017 USD1000	N/A	94973VAM9	20,000	22,433.38	0.06%
DELHAIZE GROUP 5.875% SNR NTS 01/FEB/2014 USD	N/A	24668PAC1	20,000	21,836.00	0.06%
MARATHON PETROLEUM CORP 5.125% BDS 01/MAR/2021	N/A	56585AAB8	21,000	21,167.64	0.06%
XEROX CORP 4.25% NTS 15/FEB/2015 USD1000	N/A	984121BZ5	20,000	21,053.00	0.06%
TECO FINANCE 4% BDS 15/MAR/2016 USD1000	N/A	87875UAJ1	20,000	20,376.32	0.05%
WINDSTREAM CORP 7.5% BDS 01/APR/2023 USD1000 144A	N/A	97381WAQ7	20,000	19,700.00	0.05%
HERTZ CORP 8.875% SNR NTS 01/JAN/2014 USD1000	N/A	428040BZ1	18,000	18,450.00	0.05%
NATIONAL CAPITAL TRST II VAR PERP 144A	N/A	635192AA5	18,000	17,902.19	0.05%
UNION ELECTRIC CO 6.7% MTG BDS 01/FEB/2019 USD2000	N/A	906548CG5	15,000	17,310.59	0.05%
CRICKET COMMUNICATIONS INC 7.75% BDS 15/MAY/2016	N/A	226566AK3	15,000	15,937.50	0.04%
DCP MIDSTREAM LLC 5.35% BDS 15/MAR/2020	N/A	23311RAD8	15,000	15,589.37	0.04%
COVENTRY HEALTHCARE INC 5.95% SNR NTS 15/MAR/2017	N/A	222862AG9	15,000	15,557.99	0.04%
AGILENT TECHNOLOGIES INC 5% NTS 15/JUL/2020	N/A	00846UAG6	15,000	15,334.17	0.04%
ANTERO RESOURCES FINANCE 9.375% SR NT 01/DEC/2017	N/A	03674PAC7	14,000	15,260.00	0.04%
AFLAC INC 3.45% BDS 15/AUG/2015 USD1000	N/A	001055AE2	15,000	15,063.75	0.04%
MARATHON PETROLEUM CORP 3.5% SNR NTS 01/MAR/2016	N/A	56585AAA0	13,000	13,034.11	0.03%
CCO HLDGS LLC/CCO HLDGS CAPITAL CP 7.875% SR NT	N/A	1248EPAL7	12,000	12,750.00	0.03%
HOLCIM FINANCE LUX SA 6% BDS 30/DEC/2019	N/A	43474TAA1	11,000	11,528.70	0.03%
HCA INC 8.5% NTS 15/APR/2019 USD1000	N/A	404119BF5	10,000	11,100.00	0.03%
HUMANA INC 6.45% 01/JUN/2016	N/A	444859AV4	10,000	11,068.23	0.03%
PRUDENTIAL FINANCIAL INC 6.20% BDS 15/JAN/2015	N/A	74432QBF1	10,000	11,036.65	0.03%
HUMANA INC 6.3% 01/AUG/2018	N/A	444859AU6	10,000	10,782.44	0.03%
COVENTRY HEALTHCARE INC 6.125% BDS 15/JAN/2015	N/A	222862AF1	10,000	10,564.17	0.03%
HUNTINGTON INGALLS INDUSTRIES INC 6.875% NTS	N/A	446413AA4	10,000	10,437.50	0.03%
HUNTINGTON INGALLS INDUSTRIES INC 7.125% NTS	N/A	446413AC0	10,000	10,425.00	0.03%
NOBLE HLDGS INTL 4.9% BDS 01/AUG/2020 USD1000	N/A	65504LAC1	8,000	8,116.72	0.02%
UNIVISION COMMUNICATIONS INC 12% BDS 01/JUL/2014	N/A	914906AF9	7,000	7,560.00	0.02%
PRUDENTIAL FINANCIAL INC 7.375% BDS 15/JUN/2019	N/A	74432QBG9	5,000	5,870.58	0.02%
CCO HLDGS LLC/CCO HLDGS CAPITAL CP 8.125% SR NT	N/A	1248EPAP8	5,000	5,437.50	0.01%
AES CORP 7.75% SNR NTS 15/OCT/2015 USD1000	N/A	00130HBL8	5,000	5,400.00	0.01%
TECK RESOURCES LTD 6.0% BDS 15/AUG/2040 USD1000	N/A	878742AS4	4,000	4,028.36	0.01%

Holding	Ticker	Security No	Shares	Market Value	Percent
EUROPEAN INVESTMENT BANK 1.4% SNR NTS 20/JUN/2017	N/A	B0BVDQ8	122,700,000	1,567,603.68	4.17%
GERMANY(FEDERAL REPUBLIC) 6.25% BDS 04/JAN/2030	BB14	5880508	645,000	1,199,571.00	3.19%
AUSTRALIA(COMMONWEALTH OF) 5.75% BDS 15/APR/2012	N/A	B1L6LB1	974,000	1,001,832.88	2.66%
TREASURY 4.75% GILT 07/DEC/2030 GBP	TR30	B24FF09	576,000	988,933.10	2.63%
UNITED STATES TREAS NTS 0.375% 31/OCT/2012	N/A	912828PD6	974,000	971,337.08	2.58%
UNITED STATES TREAS NTS 2.625% 15/NOV/2020	N/A	912828PC8	1,035,000	968,371.88	2.57%
AUSTRIA(REPUBLIC OF) BDS 15/SEP/2016 EUR1000	N/A	B138LV5	650,000	947,556.46	2.52%
UNITED STATES OF AMER TREAS NOTES 4.5% 15/NOV/2015	N/A	912828EN6	827,000	921,135.76	2.45%
GERMANY(FEDERAL REPUBLIC) 3.0% BDS 04/JUL/2020	N/A	B3TKJ71	655,000	893,879.51	2.38%
DEUTSCHLAND REP 3.50 04/JAN/2016	BB29	B0S5YP9	531,000	772,138.94	2.05%
S0UTH AFRICA (GOVT OF) 8.25% BDS 15/SEP/2017 ZAR	N/A	B012985	5,221,000	747,461.98	1.99%
UNITED STATES TREAS NTS 2.625% 31/DEC/2014	N/A	912828ME7	625,000	649,267.50	1.73%
ONTARIO (PROVINCE OF) 4.75% DUE 02/JUN/2013	N/A	2802505	544,000	592,103.59	1.57%
QUEBEC (PROVINCE OF) 5.25% DUE 01/OCT/2013	N/A	B622VK2	534,000	590,656.60	1.57%
ITALY(REPUBLIC OF) 3.75% TB 01/MAR/2021 EUR1000	N/A	B63Q9G5	450,000	570,367.83	1.52%
TREASURY INDEX-LINKED STK 16/AUG/2013	T13I	0903671	123,000	562,173.34	1.49%
NEW ZEALAND 6% BDS 15/MAY/2021 NZD1000	N/A	B503GR2	720,000	558,739.05	1.48%
CANADA(GOVT OF) 3.5% BDS 01/JUN/2013 CAD1000	N/A	B2PZ3C6	489,000	520,794.69	1.38%
UNITED STATES TREAS NTS 03.875% 15/MAY/2018	N/A	912828HZ6	480,000	512,700.00	1.36%
BELGIUM(KINGDOM OF) 3.75% BDS 28/SEP/2015 EUR0.01	N/A	B06HZF4	361,000	504,339.16	1.34%
FEDERAL NATIONAL MORTGAGE ASSOC 6% MTG BD	N/A	31413UJN0	459,339	499,992.04	1.33%
NETHERLANDS(KINGDOM OF) 2.75% GTD 15/JAN/2015 EUR1	N/A	B66T6Q0	350,000	491,482.99	1.31%
CANADA(GOVT OF) 4.25% BDS 01/JUN/2018 CAD1000	N/A	B28XMW0	410,000	455,137.77	1.21%
NETHERLANDS(KINGDOM OF) 7.5% BDS 15/JAN/2023 EUR1	N/A	4283380	218,000	416,350.48	1.11%
UNITED STATES OF AMER TREAS BONDS 5.375% BDS	N/A	912810FP8	359,000	412,625.63	1.10%
TREASURY 4% STK 07/SEP/2016	T16	B0V3WX4	221,000	382,039.10	1.02%
GERMANY(FEDERAL REPUBLIC) 3.75% BDS 04/JUL/2013	BB23	7624641	260,000	376,568.48	1.00%
MEXICAN BONDS 9.5% BDS 18/DEC/2014 MXN100	N/A	B05M9C5	4,093,000	372,453.70	0.99%
FRANCE (GOVT OF ) 3.5% OAT 25/APR/2015 EUR1	N/A	B064GG3	233,000	335,193.30	0.89%
FRANCE(GOVT OF) 5% OAT 25/OCT/2016 EUR1	N/A	7033418	190,000	291,810.16	0.78%
BANK OF AMERICA CORP 4.9% MTN 01/MAY/2013 USD1000	N/A	06051GDW6	275,000	291,289.90	0.77%
SPAIN (KINGDOM OF) 4% BDS 30/APR/2020 EUR1000	N/A	B6305Y7	223,000	282,279.67	0.75%
NETHERLANDS(KINGDOM OF) 4.5% BDS 15/JUL/2017 EUR1	N/A	B236N21	184,000	277,136.02	0.74%
UNITED STATES TREAS NTS 2.750% 15/FEB/2019	N/A	912828KD1	280,000	274,487.36	0.73%
FEDERAL HOME LOAN MORTGAGE CORP 4.75% NTS	N/A	3134A4ZT4	246,000	273,104.03	0.73%
JAPAN FINANCE ORGANIZATION FOR MUNICIPALITIES 2%	N/A	B1405Y1	20,000,000	261,324.12	0.69%
CITIGROUP INC 5.5% NTS 11/APR/2013 USD1000	N/A	172967EQ0	220,000	235,840.00	0.63%
TREASURY 5.25% TREASURY GILT 07/JUN/2012	TR12	B1L6WG3	135,000	231,274.24	0.61%
QUEBEC 4.25% BDS 27/FEB/2013 EUR1000	N/A	7548376	155,000	222,082.40	0.59%
JP MORGAN CHASE COML MTG SEC TST 06 5.552% NTS	N/A	46629GAE8	200,000	216,770.20	0.58%
WELLS FARGO COMPANY 4.375% 31/JAN/2013	N/A	949746NY3	200,000	211,750.20	0.56%
COLOMBIA(REP OF) 7.75% BDS 14/APR/2021 COP	N/A	B5W0TD8	381,000,000	210,339.17	0.56%
LB UBS COMMERCIAL MORTGAGE TRUST	N/A	50179AAE7	180,000	193,130.30	0.51%
TREASURY 5% GILT 07/MAR/2018 GBP	T18	B1VWPC8	100,545	182,027.18	0.48%
AT&T INC 5.60% 15/MAY/2018	N/A	00206RAM4	150,000	165,725.40	0.44%
BANC AMER COML MTG TRUST 2006-2 5.414% CMO	N/A	05950XAE6	155,000	165,453.17	0.44%
ML CFC COMMERCIAL MORTGAGE TRUST FLTG RATE NTS	N/A	60687VAE5	155,000	165,067.06	0.44%
COMM 2007-C9 MTG TR FLTG MTG BDS 10/DEC/2049	N/A	20047RAE3	138,238	151,028.86	0.40%
TRANSCAPITILINVEST LTD 7.7% BDS 07/AUG/2013	N/A	89354FAD3	135,000	149,987.03	0.40%
LLOYDS TSB BANK 4% MTN 17/NOV/2011 GBP1000	N/A	B3FHFW3	90,000	149,317.48	0.40%
GENERAL ELECTRIC CAPITAL SERVICES 5.625% MTN	N/A	36962G3U6	135,000	146,824.65	0.39%
CIE FINANCEMENT FONCIER 4.375% 19/NOV/2014	N/A	B295SJ4	100,000	144,519.68	0.38%
TIME WARNER CABLE INC 7.50% BDS 01/APR/2014	N/A	88732JAR9	125,000	144,349.25	0.38%
EUROPEAN BANK FOR REC & DEV 9.25% NTS 10/SEP/2012	79WO	B62GT66	235,000	141,115.82	0.38%
POLAND(REPUBLIC OF) 4.675% MTN 15/OCT/2019	N/A	B54LFM0	100,000	139,719.94	0.37%
GAZ CAPITAL SA 6.212% NTS 22/NOV/2016 USD1000	N/A	368266AE2	130,000	138,125.00	0.37%
BANK OF SCOTLAND PLC 4.75% 08/JUN/2022	N/A	B1YCCC4	100,000	136,616.15	0.36%
MORGAN STANLEY CAP 2007-TOP27 A-4 11/JUN/2042 FLT	N/A	61754JAF5	125,000	136,179.56	0.36%
BRITISH COLUMBIA(PROVINCE OF)CANADA 4.25% DEB	N/A	B3CW543	125,000	135,951.57	0.36%
MERRILL LYNCH MORTGAGE TRUST 6.022% BDS	N/A	59025KAE2	125,000	135,713.96	0.36%
RSHB CAPITAL 7.75% NTS 29/MAY/2018 USD100000	N/A	74973DAD1	123,000	135,152.40	0.36%
ORACLE CORP 5.75% NTS 15/APR/2018 USD1000	N/A	68389XAC9	120,000	134,966.52	0.36%
LB UBS COMMERCIAL MORTGAGE TRUST FR CMO	N/A	52108MDH3	125,000	134,281.54	0.36%
ANGLO AMERICAN CAPITAL PLC GTD SR NT 144A	N/A	034863AB6	100,000	133,866.10	0.36%
TREASURY 4.5% GILT 07/MAR/2019 GBP0.01	T19	B39R3F8	76,000	132,620.40	0.35%
BANCO BILBAO VIZCAYA ARGENTARIA SA 3.25% NTS	N/A	B0WW553	100,000	129,009.59	0.34%
PETROBRAS INTL FIN CO 5.75% 20/JAN/2020	N/A	71645WAP6	120,000	124,517.76	0.33%
NATIONAL COMPANY KAZMUNAYGAS JSC 9.125% NTS	N/A	48667QAA3	100,000	121,000.00	0.32%
WPP FINANCE UK 8.00% SNR NTS 15/SEP/2014 USD1000	N/A	92931NAC4	100,000	116,409.00	0.31%
AOL TIME WARNER INC 7.625% BDS 15/APR/2031 USD1000	N/A	00184AAC9	96,000	113,447.14	0.30%
STEEL CAPITAL S.A. 9.75% 29/JUL/2013 USD'144A	N/A	858057AA0	100,000	112,500.00	0.30%
ROYAL BANK OF CANADA 4.6250% 22/JAN/2018	N/A	B2NVJF1	75,000	109,816.46	0.29%
WEA FINANCE LLC/WCI FINANCE LLC 5.75% NTS	N/A	92933WAA6	100,000	109,348.50	0.29%
STANDARD CHARTERED BANK 6.4% DATED SUB NTS	N/A	853250AB4	100,000	108,819.90	0.29%
WEYERHAEUSER CO DEB 7.375% DUE 15/MAR/2032	N/A	962166BR4	100,000	108,737.10	0.29%
METROPOLITAN LIFE GLOBAL FUNDING I 5.125% MTN	N/A	59217EBW3	100,000	108,579.20	0.29%
NORDEA HYPOTEK AB 4.25% EMTN 06/FEB/2014 EUR	N/A	B1QGX98	75,000	108,164.87	0.29%
ALLEGHENY ENERGY SUPPLY CO 5.75% NTS 15/OCT/2019	N/A	017363AK8	105,000	108,125.22	0.29%
BRITISH TELECOM 9.875%-VAR BDS 15/DEC/2030 USD	N/A	111021AE1	77,000	106,771.13	0.28%
PETRONAS CAPITAL 5.25% BDS 12/AUG/2019	N/A	716743AD1	100,000	106,561.10	0.28%
NOBLE GROUP 6.75% BDS 29/JAN/2020 USD1000'144A'	N/A	65504RAD6	100,000	106,000.00	0.28%
JARDEN CORP 7.5% BDS 15/JAN/2020 USD1000	N/A	471109AD0	100,000	105,500.00	0.28%
ROYAL BANK OF SCOTLAND PLC AGG PRINC SNR FXD NTS	N/A	78010JCV2	100,000	103,853.60	0.28%
MORGAN STANLEY 4% BDS 24/JUL/2015 USD100000	N/A	6174467N3	100,000	102,384.90	0.27%
REPUBLIC SERVICES, INC. 5.25% 15/NOV/2021	N/A	760761AD8	97,000	102,156.81	0.27%
NATIONWIDE BUILDING SOCIETY 4.65% NTS 25/FEB/2015	N/A	63859UAX1	100,000	101,720.00	0.27%
MORGAN STANLEY 5.5% BDS 24/JUL/2020 USD1000	N/A	6174467P8	100,000	101,044.70	0.27%
HUSKY ENERGY INC 7.25% SNR NTS 15/DEC/2019 USD	N/A	448055AF0	85,000	101,022.42	0.27%
LLOYDS TSB BANK PLC 4.375% BDS 12/JAN/2015	N/A	53947MAA4	100,000	100,804.30	0.27%
ORIX CORP 4.71% NTS 27/APR/2015 USD1000	N/A	686330AE1	97,000	98,950.09	0.26%
ONCOR ELECTRIC DELIVERY CO 5.95% SNR NTS	N/A	68233JAB0	90,000	98,866.80	0.26%
SANTANDER US DEBT SA UNI 2.991% SNR NTS	N/A	802815AS9	100,000	97,563.40	0.26%
MCKESSON HBOC INC 5.25% BDS 01/MAR/2013 USD1000	N/A	581557AU9	90,000	96,237.36	0.26%
GERMANY(FEDERAL REPUBLIC) 3.75% BDS 04/JAN/2015	BB26	B04FJB4	65,000	95,193.37	0.25%
NOBLE ENERGY INC 8.25% NTS 01/MAR/2019 USD1000	N/A	655044AD7	75,000	94,515.23	0.25%
UNICREDITO ITALIANO SPA 6% MTN 31/OCT/2017	N/A	90466GAC6	100,000	94,050.20	0.25%
WESTERN UNION COMPANY (THE) 5.93% NTS 01/OCT/2016	N/A	959802AB5	83,000	92,510.22	0.25%
CONOCOPHILLIPS 6.0% NTS 15/JAN/2020 USD2000	N/A	20825CAU8	80,000	91,776.32	0.24%
DOW CHEMICAL CO 8.55% BDS 15/MAY/2019 USD1000	N/A	260543BX0	72,000	91,293.62	0.24%
POLAND(REPUBLIC OF) 3.875% BDS 16/JUL/2015 USD1000	N/A	B4KSJP9	89,000	90,210.40	0.24%
BELL CANADA 4.85% MTN 30/JUN/2014 CAD1000	N/A	B68XDT2	83,000	89,971.98	0.24%
ARCELORMITTAL SA 9% LN STK 15/FEB/2015 USD1000	N/A	03938LAL8	75,000	89,981.78	0.24%
CALIFORNIA STATE 7.625% MUNI BDS 01/MAR/2040	N/A	13063BFR8	80,000	87,000.80	0.23%
XL CAPITAL LTD 5.25% 15/SEP/2014	N/A	98372PAF5	82,000	86,571.75	0.23%
NISOURCE FINANCE CORP 6.8% BDS 15/JAN/2019 USD1000	N/A	65473QAT0	75,000	86,436.38	0.23%
SEMPRA ENERGY CORP 6.5% BDS 01/JUN/2016 USD1000	N/A	816851AN9	75,000	85,937.55	0.23%
WHIRLPOOL CORP 8.6% LN STK 01/MAY/2014 USD1000	N/A	96332HCB3	73,000	84,843.01	0.23%
MACQUARIE GROUP LTD 7.625% 13/AUG/2019	N/A	55608JAB4	75,000	84,225.00	0.22%
BMW FINANCE NV 2.875% MTN 18/APR/2013 EUR1000	N/A	B5MPLX7	60,000	83,515.43	0.22%
VIACOM INC 5.625% BDS 15/SEP/2019 USD1000	N/A	92553PAD4	76,000	83,219.16	0.22%
OWENS CORNING INC 9.00% BDS 15/JUN/2019 USD1000	N/A	690742AC5	70,000	82,836.39	0.22%
AHOLD FINANCE USA INC 6.875% NTS 01/MAY/2029	N/A	008685AB5	75,000	82,366.80	0.22%
BUNGE LTD FINANCE CORP 8.50% BDS 15/JUN/2019	N/A	120568AT7	68,000	80,781.48	0.21%
FIRSTENERGY SOLUTIONS CORP 6.05% NTS 15/AUG/2021	N/A	33766JAD5	77,000	80,553.86	0.21%
EMBARQ CORPORATION 7.082% BDS 01/JUN/2016 USD1000	N/A	29078EAB1	70,000	79,662.66	0.21%
ANADARKO PETROLEUM CORP 5.95% SNR NTS 15/SEP/2016	N/A	032511AX5	72,000	78,958.87	0.21%
EXPRESS SCRIPTS INC 5.25% LN STK 15/JUN/2012	N/A	302182AC4	75,000	78,642.60	0.21%
BNP PARIBAS 4.80 24/JUN/2015	N/A	05567MAA3	75,000	78,338.78	0.21%
NABORS INDUSTRIES INC 6.15% GTD SNR NTS	N/A	629568AQ9	71,000	77,270.86	0.21%
CBS CORP NEW GTD SR NT 8.2% 15/MAY/2014	N/A	124857AB9	65,000	76,280.62	0.20%
CONSTELLATION ENERGY GROUP INC 5.15% BDS	N/A	210371AL4	75,000	75,199.13	0.20%
SAN DIEGO CNTY CALIF WTR AUTH FING AGY WTR REV SER	N/A	79741TAR5	75,000	75,003.00	0.20%
HCP INC 5.375% BDS 01/FEB/2021 USD1000	N/A	40414LAD1	73,000	74,615.13	0.20%
AMER TOWER CORP 5.05% SR NT 01/SEP/2020 USD	N/A	029912BC5	75,000	73,724.55	0.20%
WYNDHAM WORLDWIDE 6% SNR NTS 01/DEC/2016 USD1000	N/A	98310WAB4	69,000	73,472.72	0.20%
HUMANA INC 7.2% SNR NTS 15/JUN/2018 USD1000	N/A	444859AY8	63,000	71,797.89	0.19%
MOHAWK INDUSTRIES VAR BDS 15/JAN/2016 USD1000	N/A	608190AH7	66,000	70,785.00	0.19%
AVIATION CAPITAL GROUP TRUST 7.125% BDS	N/A	05367AAA1	68,000	70,701.64	0.19%
NEWELL RUBBERMAID INC 4.7% LN STK 15/AUG/2020	N/A	651229AK2	70,000	69,426.98	0.18%
NISSAN MOTOR ACCEPTANCE 4.50% NTS 30/JAN/2015	N/A	654742AB1	66,000	69,037.91	0.18%
GERMANY(FEDERAL REPUBLIC) 3.75% BDS 04/JAN/2017	BB31	B1HNZP8	47,000	68,889.20	0.18%
BARCLAYS BANK PLC VAR PERP EUR10000	N/A	B06FPT2	70,000	68,583.51	0.18%
HSBC COVERED BONDS 3.375% MTG 20/JAN/2017 EUR5000	N/A	B60PDY1	50,000	68,337.68	0.18%
US BANK NA FRN MTN 28/FEB/2017 EUR50000	N/A	B1S7LJ5	50,000	68,106.74	0.18%
RRI ENERGY INC 7.625% 15/JUN/2014	N/A	74971XAB3	65,000	67,925.00	0.18%
JC PENNEY CO INC 5.65% SRN 01/JUN/2020 USD1000	N/A	708130AD1	70,000	67,550.00	0.18%
CANADIAN NATL RAILWAY 5.55% 01/MAR/2019	N/A	136375BT8	60,000	67,471.02	0.18%
UBS AG LONDON 5.625% NTS 19/MAY/2014 EUR1000	N/A	B4R5F33	45,000	66,531.60	0.18%
SLM CORP 8.45% NTS 15/JUN/2018 USD1000'TR 104'	N/A	78442FEH7	60,000	66,000.00	0.18%
UNIVERSAL HEALTH SERVICES INC 7.125% BDS	N/A	913903AN0	60,000	65,410.32	0.17%
TYCO INTERNATIONAL LTD 8.5% BDS 15/JAN/2019	N/A	902118BL1	50,000	64,685.30	0.17%
ASCIANO LTD 4.625% NTS 23/SEP/2020 USD1000'144A'	N/A	04363UAB2	69,000	64,634.92	0.17%
VALE OVERSEAS LIMITED 6.875% GTD NTS 21/NOV/2036	N/A	B1HMKF0	60,000	64,554.00	0.17%
VALERO ENERGY CORP 9.375% BDS 15/MAR/2019 USD1000	N/A	91913YAN0	50,000	63,706.35	0.17%
CIGNA CORP 5.125% BDS 15/JUN/2020 USD1000	N/A	125509BM0	60,000	62,859.36	0.17%
HARLEY-DAVIDSON FDG 5.75% BDS 15/DEC/2014	N/A	41283DAC7	59,000	62,771.04	0.17%
AMEREN CORP 8.875% BDS 15/MAY/2014 USD1000	N/A	023608AE2	54,000	62,066.52	0.16%
INTERNATIONAL PAPER CO 7.95% BDS 15/JUN/2018	N/A	460146CA9	50,000	60,864.60	0.16%
MASS MUTUAL LIFE 8.875% BDS 01/JUN/2039	N/A	575767AG3	45,000	60,569.19	0.16%
FORD MOTOR CO 7.45% BDS 16/JUL/2031 USD1000	N/A	345370CA6	55,000	59,864.59	0.16%
ALTRIA GROUP INC 9.7% NTS 10/NOV/2018 USD1000	N/A	02209SAD5	45,000	59,265.18	0.16%
COVENTRY HEALTH CARE INC 6.3% 15/AUG/2014	N/A	222862AH7	55,000	58,756.89	0.16%
ABN AMRO BANK NV VAR BDS 31/DEC/2049 EUR1000	N/A	B0ZXTD9	55,000	58,440.88	0.16%
PRINCIPAL FINANCIAL GROUP 7.875% BDS 15/MAY/2014	N/A	74251VAB8	50,000	57,875.30	0.15%
TELECOM ITALIA CAPITAL 5.25% BDS 15/NOV/2013	N/A	87927VAE8	55,000	57,473.63	0.15%
EQT CORP 8.125% LN STK 01/JUN/2019 USD2000	N/A	26884LAA7	46,000	54,535.85	0.14%
GOLDMAN SACHS GROUP INC 7.5% SRN 15/FEB/2019	N/A	38141EA25	45,000	53,041.77	0.14%
VALERO ENERGY CORP(NEW) 6.875% BDS 15/APR/2012	N/A	91913YAD2	50,000	53,026.80	0.14%
CMS ENERGY CORP 8.75% BDS 15/JUN/2019 USD1000	N/A	125896BC3	43,000	51,513.53	0.14%
ANGLOGOLD ASHANTI HLDGS FINANCE PLC 5.375% BDS	N/A	03512TAA9	50,000	50,901.95	0.14%
UNITED STATES STEEL CORP 6.05% BDS 01/JUN/2017	N/A	912909AC2	50,000	50,875.00	0.14%
WINDSTREAM CORP 8.625% 01/AUG/2016	N/A	97381WAD6	48,000	50,760.00	0.13%
SUPERVALU INC 8% BDS 01/MAY/2016 USD1000	N/A	868536AT0	50,000	49,750.00	0.13%
CNF INC 6.7% BDS 01/MAY/2034 USD1000	N/A	12612WAB0	54,000	49,279.43	0.13%
PRUDENTIAL FINANCIAL INC 5.15% BDS 15/JAN/2013	N/A	74432QBE4	46,000	48,845.19	0.13%
HARTFORD FINL SVCS GRP 4.00% 30/MAR/2015	N/A	416515AY0	47,000	47,528.23	0.13%
ECOPETROL SA 7.625% NTS 23/JUL/2019 USD1000	N/A	279158AB5	41,000	47,457.50	0.13%
WILLIAMS PARTNERS L.P. 5.25% NTS 15/MAR/2020	N/A	96950FAD6	44,000	45,816.45	0.12%
COMCAST CORP 5.9% BDS 15/MAR/2016 USD1000	N/A	20030NAL5	40,000	44,480.40	0.12%
TEXAS TRANSN COMMN ST HWY FD REV FIRST TIER-SER	N/A	88283LHU3	45,000	44,477.55	0.12%
BAUSCH & LOMB INC 9.875% SRN 01/NOV/2015 USD1000	N/A	071707AP8	40,000	43,300.00	0.11%
HARTFORD FINANCIAL SERVICES GRP INC 6.3% SNR NTS	N/A	416515AU8	40,000	43,129.56	0.11%
GOLDMAN SACHS GROUP INC 6.00% 15/JUN/2020	N/A	38141EA66	40,000	42,887.48	0.11%
HESS CORP 8.125% BDS 15/FEB/2019 USD1000	N/A	42809HAB3	34,000	42,700.87	0.11%
WEATHERFORD INTERNATIONAL LTD 5.15% BDS	N/A	947075AC1	40,000	42,258.96	0.11%
PARKER-HANNIFIN CORP 5.5% BDS 15/MAY/2018 USD2000	N/A	70109HAH8	37,000	41,366.70	0.11%
SOUTHERN CO 4.15% SNR NTS 15/MAY/2014 USD1000	N/A	842587CE5	39,000	41,319.10	0.11%
GUARDIAN LIFE INSURANCE 7.325% 30/SEP/2039	N/A	401378AA2	35,000	40,716.06	0.11%
CVS CAREMARK CORP 6.6% BDS 15/MAR/2019 USD1000	N/A	126650BN9	35,000	40,573.37	0.11%
WELLPOINT INC 4.35% NTS 15/AUG/2020 USD1000	N/A	94973VAS6	40,000	39,937.76	0.11%
JEFFERIES GROUP INC 6.875% 15/APR/2021	N/A	472319AH5	37,000	39,690.31	0.11%
MARRIOTT INTERNATIONAL INC 6.2% BDS 15/JUN/2016	N/A	571903AF0	35,000	38,950.10	0.10%
ING CAPITAL FUNDING TRUST III VAR% PERP GTD BDS	N/A	44978NAA3	40,000	38,381.20	0.10%
SOUTHWEST AIRLINES CO 5.75% BDS 15/DEC/2016	N/A	844741AY4	35,000	37,760.73	0.10%
AMERICAN EXPRESS CO 7.25% LN STK 20/MAY/2014	N/A	025816BA6	33,000	37,739.10	0.10%
SOUTHWEST AIRLINES CO 5.25% 01/OCT/2014	N/A	844741AW8	35,000	37,665.88	0.10%
EDISON MISSION ENERGY 7% SNR NTS 15/MAY/2017	N/A	281023AU5	45,000	36,562.50	0.10%
NALCO HLDG CO 6.625% BDS 15/JAN/2019 USD1000 144A	N/A	629855AQ0	35,000	36,181.25	0.10%
INTERPUBLIC GROUP CO INC 6.25% 15/NOV/2014	N/A	460690AV2	33,000	35,846.25	0.10%
XEROX CORP 8.25% BDS 15/MAY/2014 USD1000	N/A	984121BY8	30,000	35,105.85	0.09%
CHESAPEAKE ENERGY CORP 6.125% BDS 15/FEB/2021	N/A	165167CG0	34,000	34,680.00	0.09%
ALCOA INC 6.75% SNR NTS 15/JUL/2018 USD1000	N/A	013817AS0	30,000	34,071.39	0.09%
TESORO CORP 6.5% 01/JUN/2017	N/A	881609AT8	33,000	33,990.00	0.09%
ACCO BRANDS CORP SR NT 10.625% 15/MAR/2015	N/A	00081TAD0	30,000	33,900.00	0.09%
UNITEDHEALTH GROUP INC 6% 15/FEB/2018	N/A	91324PBJ0	30,000	33,845.55	0.09%
TELUS CORP 4.95% UNS 15/MAY/2014 CAD1000	N/A	B4XH1L3	30,000	32,554.27	0.09%
DCP MIDSTREAM LLC 9.75% BDS 15/MAR/2019	N/A	23311RAC0	25,000	32,364.65	0.09%
DIRECTV HLDGS/FINANCE 4.75% NTS 01/OCT/2014	N/A	25459HAL9	30,000	32,270.28	0.09%
DTE ENERGY COOMPANY 7.625% 15/MAY/2014	N/A	233331AN7	28,000	32,000.61	0.08%
CSC HOLDINGS INC 8.50% BDS 15/APR/2014 USD1000	N/A	126307AA5	28,000	31,360.00	0.08%
MARKEL CORP 7.125% SR NTS 30/SEP/2019 USD1000	N/A	570535AH7	27,000	30,649.62	0.08%
INGERSOLL-RAND PLC 9.5% BDS 15/APR/2014 USD1000	N/A	45687AAE2	25,000	30,125.98	0.08%
GEORGIA PACIFIC CORP 5.4% BDS 01/NOV/2020 USD1000	N/A	37331NAB7	30,000	29,841.66	0.08%
MACQUARIE BANK LTD VAR 31/MAY/2017	N/A	B1WRPB1	30,000	29,741.45	0.08%
TOLL BROTHERS FINANCE CORP 8.91% BDS 15/OCT/2017	N/A	88947EAH3	25,000	29,399.80	0.08%
CASE NEW HOLLAND INC 7.875% BDS 01/DEC/2017	N/A	147446AQ1	26,000	29,055.00	0.08%
COMPAGNIE DE FINANCEMENT FONCIER 4.625% MTN	N/A	B28J3J2	19,000	27,501.69	0.07%
WILLIAMS COMPANIES INC 7.875% BDS 01/SEP/2021	N/A	969457BG4	22,000	27,497.40	0.07%
WELLPOINT INC 7.00% BDS 15/FEB/2019 USD1000	N/A	94973VAR8	23,000	27,346.24	0.07%
MYLAN INC 7.875% 15/JUL/2020 144A	N/A	628530AL1	24,000	26,820.00	0.07%
RYDER SYSTEM INC 5.85% MTN 01/NOV/2016 USD1000	N/A	78355HJK6	24,000	26,548.97	0.07%
AES CORPORATION 7.75% 01/MAR/2014	N/A	00130HBC8	24,000	26,100.00	0.07%
TECO FINANCE 5.15% BDS 15/MAR/2020 USD1000	N/A	87875UAK8	25,000	25,886.90	0.07%
LINCOLN NATIONAL CORP 8.75% NTS 01/JUL/2019	N/A	534187AX7	19,000	23,935.76	0.06%
RYDER SYSTEM INC 7.20% 01/SEP/2015	N/A	78355HJN0	20,000	23,206.16	0.06%
WELLPOINT INC 5.875% BDS 15/JUN/2017 USD1000	N/A	94973VAM9	20,000	22,581.40	0.06%
DELHAIZE GROUP 5.875% SNR NTS 01/FEB/2014 USD	N/A	24668PAC1	20,000	21,924.56	0.06%
MARATHON PETROLEUM CORP 5.125% BDS 01/MAR/2021	N/A	56585AAB8	21,000	21,301.20	0.06%
XEROX CORP 4.25% NTS 15/FEB/2015 USD1000	N/A	984121BZ5	20,000	21,049.48	0.06%
TECO FINANCE 4% BDS 15/MAR/2016 USD1000	N/A	87875UAJ1	20,000	20,331.88	0.05%
HERTZ CORP 8.875% SNR NTS 01/JAN/2014 USD1000	N/A	428040BZ1	18,000	18,472.50	0.05%
NATIONAL CAPITAL TRST II VAR PERP 144A	N/A	635192AA5	18,000	17,990.14	0.05%
UNION ELECTRIC CO 6.7% MTG BDS 01/FEB/2019 USD2000	N/A	906548CG5	15,000	17,431.16	0.05%
CRICKET COMMUNICATIONS INC 7.75% BDS 15/MAY/2016	N/A	226566AK3	15,000	15,862.50	0.04%
COVENTRY HEALTHCARE INC 5.95% SNR NTS 15/MAR/2017	N/A	222862AG9	15,000	15,572.07	0.04%
DCP MIDSTREAM LLC 5.35% BDS 15/MAR/2020	N/A	23311RAD8	15,000	15,549.72	0.04%
AFLAC INC 3.45% BDS 15/AUG/2015 USD1000	N/A	001055AE2	15,000	15,353.67	0.04%
AGILENT TECHNOLOGIES INC 5% NTS 15/JUL/2020	N/A	00846UAG6	15,000	15,234.65	0.04%
ANTERO RESOURCES FINANCE 9.375% SR NT 01/DEC/2017	N/A	03674PAC7	14,000	15,120.00	0.04%
MARATHON PETROLEUM CORP 3.5% SNR NTS 01/MAR/2016	N/A	56585AAA0	13,000	13,063.58	0.03%
CCO HLDGS LLC/CCO HLDGS CAPITAL CP 7.875% SR NT	N/A	1248EPAL7	12,000	12,810.00	0.03%
TEXTRON FINANCIAL CORP 5.4% MTN 28/APR/2013	N/A	88319QM59	11,000	11,603.91	0.03%
HOLCIM FINANCE LUX SA 6% BDS 30/DEC/2019	N/A	43474TAA1	11,000	11,446.55	0.03%
HCA INC 8.5% NTS 15/APR/2019 USD1000	N/A	404119BF5	10,000	11,200.00	0.03%
PRUDENTIAL FINANCIAL INC 6.20% BDS 15/JAN/2015	N/A	74432QBF1	10,000	11,083.98	0.03%
HUMANA INC 6.45% 01/JUN/2016	N/A	444859AV4	10,000	11,034.94	0.03%
MYLAN INC 7.625% BDS 15/JUL/2017 USD1000 144A	N/A	628530AK3	10,000	10,987.50	0.03%
HUMANA INC 6.3% 01/AUG/2018	N/A	444859AU6	10,000	10,806.71	0.03%
COVENTRY HEALTHCARE INC 6.125% BDS 15/JAN/2015	N/A	222862AF1	10,000	10,648.83	0.03%
NOBLE HLDGS INTL 4.9% BDS 01/AUG/2020 USD1000	N/A	65504LAC1	8,000	8,154.38	0.02%
UNIVISION COMMUNICATIONS INC 12% BDS 01/JUL/2014	N/A	914906AF9	7,000	7,630.00	0.02%
PRUDENTIAL FINANCIAL INC 7.375% BDS 15/JUN/2019	N/A	74432QBG9	5,000	5,944.51	0.02%
AES CORP 7.75% SNR NTS 15/OCT/2015 USD1000	N/A	00130HBL8	5,000	5,437.50	0.01%
CCO HLDGS LLC/CCO HLDGS CAPITAL CP 8.125% SR NT	N/A	1248EPAP8	5,000	5,393.75	0.01%
TECK RESOURCES LTD 6.0% BDS 15/AUG/2040 USD1000	N/A	878742AS4	4,000	4,083.64	0.01%

Holding	Ticker	Security No	Shares	Market Value	Percent
EUROPEAN INVESTMENT BANK 1.4% SNR NTS 20/JUN/2017	N/A	B0BVDQ8	122,700,000	1,552,068.30	4.13%
UNITED STATES TREAS NTS 0.375% 31/OCT/2012	N/A	912828PD6	1,215,000	1,212,341.58	3.23%
GERMANY(FEDERAL REPUBLIC) 6.25% BDS 04/JAN/2030	BB14	5880508	645,000	1,192,805.54	3.18%
AUSTRALIA(CMNWLTH) 5.75% BDS 15/APR/2012 AUD1000	N/A	B1L6LB1	974,000	981,666.17	2.61%
TREASURY 4.75% GILT 07/DEC/2030 GBP	TR30	B24FF09	576,000	966,593.71	2.57%
AUSTRIA(REPUBLIC OF) BDS 15/SEP/2016 EUR1000	N/A	B138LV5	650,000	938,476.34	2.50%
UNITED STATES OF AMER TREAS NOTES 4.5% 15/NOV/2015	N/A	912828EN6	827,000	929,147.73	2.48%
GERMANY(FEDERAL REPUBLIC) 3.0% BDS 04/JUL/2020	N/A	B3TKJ71	655,000	886,255.93	2.36%
DEUTSCHLAND REP 3.50 04/JAN/2016	BB29	B0S5YP9	531,000	764,205.66	2.04%
S0UTH AFRICA (GOVT OF) 8.25% BDS 15/SEP/2017 ZAR	N/A	B012985	5,221,000	721,540.42	1.92%
UNITED STATES TREAS NTS 2.625% 31/DEC/2014	N/A	912828ME7	625,000	653,955.00	1.74%
ONTARIO (PROVINCE OF) 4.75% DUE 02/JUN/2013	N/A	2802505	544,000	577,454.36	1.54%
QUEBEC (PROVINCE OF) 5.25% DUE 01/OCT/2013	N/A	B622VK2	534,000	576,539.75	1.54%
NEW ZEALAND 6% BDS 15/MAY/2021 NZD1000	N/A	B503GR2	720,000	576,287.66	1.54%
ITALY(REPUBLIC OF) 3.75% TB 01/MAR/2021 EUR1000	N/A	B63Q9G5	450,000	570,685.00	1.52%
TREASURY INDEX-LINKED STK 16/AUG/2013	T13I	0903671	123,000	551,302.79	1.47%
FEDERAL NATIONAL MORTGAGE ASSOC 6% MTG BD	N/A	31413UJN0	481,142	523,284.51	1.39%
UNITED STATES TREAS NTS 03.875% 15/MAY/2018	N/A	912828HZ6	480,000	515,962.56	1.37%
CANADA(GOVT OF) 3.5% BDS 01/JUN/2013 CAD1000	N/A	B2PZ3C6	489,000	507,522.76	1.35%
UNITED STATES TREAS NTS 2.625% 15/NOV/2020	N/A	912828PC8	535,000	501,562.50	1.34%
BELGIUM(KINGDOM OF) 3.75% BDS 28/SEP/2015 EUR0.01	N/A	B06HZF4	361,000	500,342.59	1.33%
NETHERLANDS(KINGDOM OF) 2.75% GTD 15/JAN/2015 EUR1	N/A	B66T6Q0	350,000	489,234.61	1.30%
CANADA(GOVT OF) 4.25% BDS 01/JUN/2018 CAD1000	N/A	B28XMW0	410,000	442,317.67	1.18%
NETHERLANDS(KINGDOM OF) 7.5% BDS 15/JAN/2023 EUR1	N/A	4283380	218,000	414,808.20	1.10%
UNITED STATES OF AMER TREAS BONDS 5.375% BDS	N/A	912810FP8	359,000	409,147.99	1.09%
TREASURY 4% STK 07/SEP/2016	T16	B0V3WX4	221,000	376,307.87	1.00%
MEXICAN BONDS 9.5% BDS 18/DEC/2014 MXN100	N/A	B05M9C5	4,093,000	375,829.92	1.00%
GERMANY(FEDERAL REPUBLIC) 3.75% BDS 04/JUL/2013	BB23	7624641	260,000	374,497.03	1.00%
FRANCE (GOVT OF ) 3.5% OAT 25/APR/2015 EUR1	N/A	B064GG3	233,000	332,601.86	0.89%
BANK OF AMERICA CORP 4.9% MTN 01/MAY/2013 USD1000	N/A	06051GDW6	275,000	290,052.68	0.77%
FRANCE(GOVT OF) 5% OAT 25/OCT/2016 EUR1	N/A	7033418	190,000	289,430.10	0.77%
SPAIN(KINGDOM OF) 4% BDS 30/APR/2020 EUR	N/A	B6305Y7	223,000	280,162.05	0.75%
UNITED STATES TREAS NTS 2.750% 15/FEB/2019	N/A	912828KD1	280,000	276,062.64	0.74%
NETHERLANDS(KINGDOM OF) 4.5% BDS 15/JUL/2017 EUR1	N/A	B236N21	184,000	275,433.11	0.73%
FEDERAL HOME LOAN MORTGAGE CORP 4.75% NTS	N/A	3134A4ZT4	246,000	274,473.27	0.73%
JAPAN FINANCE ORGANIZATION FOR MUNICIPALITIES 2%	N/A	B1405Y1	20,000,000	261,655.21	0.70%
CITIGROUP INC 5.5% NTS 11/APR/2013 USD1000	N/A	172967EQ0	220,000	235,637.82	0.63%
TREASURY 5.25% TREASURY GILT 07/JUN/2012	TR12	B1L6WG3	135,000	228,753.31	0.61%
QUEBEC 4.25% BDS 27/FEB/2013 EUR1000	N/A	7548376	155,000	220,941.49	0.59%
COLOMBIA(REP OF) 7.75% BDS 14/APR/2021 COP	N/A	B5W0TD8	381,000,000	214,831.52	0.57%
JP MORGAN CHASE COMM MRTG SEC TR 5.552% NTS	N/A	46629GAE8	200,000	214,613.38	0.57%
WELLS FARGO COMPANY 4.375% 31/JAN/2013	N/A	949746NY3	200,000	211,765.80	0.56%
LB UBS COMMERCIAL MORTGAGE TRUST	N/A	50179AAE7	180,000	190,857.06	0.51%
TREASURY 5% GILT 07/MAR/2018 GBP	T18	B1VWPC8	100,545	179,484.65	0.48%
AT&T INC 5.60% 15/MAY/2018	N/A	00206RAM4	150,000	166,223.55	0.44%
ML CFC COMMERCIAL MORTGAGE TRUST FLTG RATE NTS	N/A	60687VAE5	155,000	165,423.72	0.44%
BANC AMER COML MTG TRUST 2006-2 5.414% CMO	N/A	05950XAE6	155,000	164,501.28	0.44%
TRANSCAPITILINVEST LTD 7.7% BDS 07/AUG/2013	N/A	89354FAD3	135,000	150,740.73	0.40%
COMM 2007-C9 MTG TR FLTG MTG BDS 10/DEC/2049	N/A	20047RAE3	138,238	149,718.89	0.40%
LLOYDS TSB BANK 4% MTN 17/NOV/2011 GBP1000	N/A	B3FHFW3	90,000	147,430.86	0.39%
GENERAL ELECTRIC CAPITAL SERVICES 5.625% MTN	N/A	36962G3U6	135,000	146,344.19	0.39%
TIME WARNER CABLE INC 7.50% BDS 01/APR/2014	N/A	88732JAR9	125,000	144,144.75	0.38%
CIE FINANCEMENT FONCIER 4.375% 19/NOV/2014	N/A	B295SJ4	100,000	143,483.77	0.38%
EUROPEAN BANK FOR REC & DEV 9.25% NTS 10/SEP/2012	79WO	B62GT66	235,000	140,398.03	0.37%
POLAND(REPUBLIC OF) 4.675% MTN 15/OCT/2019	N/A	B54LFM0	100,000	138,293.73	0.37%
GAZ CAPITAL SA 6.212% NTS 22/NOV/2016 USD1000	N/A	368266AE2	130,000	136,500.00	0.36%
ORACLE CORP 5.75% NTS 15/APR/2018 USD1000	N/A	68389XAC9	120,000	136,033.44	0.36%
MORGAN STANLEY CAP 2007-TOP27 A-4 11/JUN/2042 FLT	N/A	61754JAF5	125,000	135,923.29	0.36%
BANK OF SCOTLAND PLC 4.75% 08/JUN/2022	N/A	B1YCCC4	100,000	135,338.56	0.36%
RSHB CAPITAL 7.75% NTS 29/MAY/2018 USD100000	N/A	74973DAD1	123,000	135,300.00	0.36%
ANGLO AMERICAN CAPITAL PLC GTD SR NT 144A	N/A	034863AB6	100,000	134,596.30	0.36%
MERRILL LYNCH MORTGAGE TRUST 6.022% BDS	N/A	59025KAE2	125,000	134,385.54	0.36%
LB UBS COMMERCIAL MORTGAGE TRUST FR CMO	N/A	52108MDH3	125,000	133,676.96	0.36%
BRITISH COLUMBIA(PROVINCE OF)CANADA 4.25% DEB	N/A	B3CW543	125,000	132,772.01	0.35%
BANCO BILBAO VIZCAYA ARGENTARIA SA 3.25% NTS	N/A	B0WW553	100,000	125,610.75	0.33%
JPMORGAN CHASE & CO 6.75% SUB NTS 01/FEB/2011	N/A	46625HAJ9	125,000	125,000.00	0.33%
PETROBRAS INTL FIN CO 5.75% 20/JAN/2020	N/A	71645WAP6	120,000	123,897.12	0.33%
NATIONAL COMPANY KAZMUNAYGAS JSC 9.125% NTS	N/A	48667QAA3	100,000	119,500.00	0.32%
WPP FINANCE UK 8.00% SNR NTS 15/SEP/2014 USD1000	N/A	92931NAC4	100,000	116,395.10	0.31%
AOL TIME WARNER INC 7.625% BDS 15/APR/2031 USD1000	N/A	00184AAC9	96,000	113,543.81	0.30%
STEEL CAPITAL S.A. 9.75% 29/JUL/2013 USD'144A	N/A	858057AA0	100,000	111,250.00	0.30%
WEA FINANCE LLC/WCI FINANCE LLC 5.75% NTS	N/A	92933WAA6	100,000	109,421.00	0.29%
METROPOLITAN LIFE GLOBAL FUNDING I 5.125% MTN	N/A	59217EBW3	100,000	109,161.60	0.29%
ROYAL BANK OF CANADA 4.6250% 22/JAN/2018	N/A	B2NVJF1	75,000	108,896.71	0.29%
STANDARD CHARTERED BANK 6.4% DATED SUB NTS	N/A	853250AB4	100,000	107,856.40	0.29%
NORDEA HYPOTEK AB 4.25% EMTN 06/FEB/2014 EUR	N/A	B1QGX98	75,000	107,542.39	0.29%
NOBLE GROUP 6.75% BDS 29/JAN/2020 USD1000'144A'	N/A	65504RAD6	100,000	107,022.00	0.29%
PETRONAS CAPITAL 5.25% BDS 12/AUG/2019	N/A	716743AD1	100,000	106,499.00	0.28%
ALLEGHENY ENERGY SUPPLY CO 5.75% NTS 15/OCT/2019	N/A	017363AK8	105,000	105,847.35	0.28%
JARDEN CORP 7.5% BDS 15/JAN/2020 USD1000	N/A	471109AD0	100,000	104,250.00	0.28%
AMERICA MOVIL SAB DE CV 5% NTS 30/MAR/2020 USD1000	N/A	02364WAV7	100,000	103,713.20	0.28%
BRITISH TELECOM 9.875%-VAR BDS 15/DEC/2030 USD	N/A	111021AE1	77,000	102,842.74	0.27%
ROYAL BANK OF SCOTLAND PLC AGG PRINC SNR FXD NTS	N/A	78010JCV2	100,000	102,757.90	0.27%
REPUBLIC SERVICES, INC. 5.25% 15/NOV/2021	N/A	760761AD8	97,000	102,305.90	0.27%
MORGAN STANLEY 4% BDS 24/JUL/2015 USD100000	N/A	6174467N3	100,000	101,508.80	0.27%
WEYERHAEUSER CO DEB 7.375% DUE 15/MAR/2032	N/A	962166BR4	100,000	101,424.60	0.27%
HUSKY ENERGY INC 7.25% SNR NTS 15/DEC/2019 USD	N/A	448055AF0	85,000	100,970.40	0.27%
NATIONWIDE BUILDING SOCIETY 4.65% NTS 25/FEB/2015	N/A	63859UAX1	100,000	100,345.80	0.27%
LLOYDS TSB BANK PLC 4.375% BDS 12/JAN/2015	N/A	53947MAA4	100,000	100,177.00	0.27%
MORGAN STANLEY 5.5% BDS 24/JUL/2020 USD1000	N/A	6174467P8	100,000	99,975.90	0.27%
ONCOR ELECTRIC DELIVERY CO 5.95% SNR NTS	N/A	68233JAB0	90,000	99,557.55	0.27%
ORIX CORP 4.71% NTS 27/APR/2015 USD1000	N/A	686330AE1	97,000	98,387.00	0.26%
MCKESSON HBOC INC 5.25% BDS 01/MAR/2013 USD1000	N/A	581557AU9	90,000	96,687.00	0.26%
SANTANDER US DEBT SA UNI 2.991% SNR NTS	N/A	802815AS9	100,000	96,522.40	0.26%
NOBLE ENERGY INC 8.25% NTS 01/MAR/2019 USD1000	N/A	655044AD7	75,000	95,150.18	0.25%
GERMANY(FEDERAL REPUBLIC) 3.75% BDS 04/JAN/2015	BB26	B04FJB4	65,000	94,541.79	0.25%
UNICREDITO ITALIANO SPA 6% MTN 31/OCT/2017	N/A	90466GAC6	100,000	93,995.40	0.25%
WESTERN UNION COMPANY (THE) 5.93% NTS 01/OCT/2016	N/A	959802AB5	83,000	93,074.79	0.25%
CONOCOPHILLIPS 6.0% NTS 15/JAN/2020 USD2000	N/A	20825CAU8	80,000	92,261.28	0.25%
POLAND(REPUBLIC OF) 3.875% BDS 16/JUL/2015 USD1000	N/A	B4KSJP9	89,000	90,072.45	0.24%
ARCELORMITTAL SA 9% LN STK 15/FEB/2015 USD1000	N/A	03938LAL8	75,000	89,967.68	0.24%
DOW CHEMICAL CO 8.55% BDS 15/MAY/2019 USD1000	N/A	260543BX0	72,000	89,875.30	0.24%
BELL CANADA 4.85% MTN 30/JUN/2014 CAD1000	N/A	B68XDT2	83,000	87,886.25	0.23%
XL CAPITAL LTD 5.25% 15/SEP/2014	N/A	98372PAF5	82,000	86,903.44	0.23%
SEMPRA ENERGY CORP 6.5% BDS 01/JUN/2016 USD1000	N/A	816851AN9	75,000	86,812.20	0.23%
NISOURCE FINANCE CORP 6.8% BDS 15/JAN/2019 USD1000	N/A	65473QAT0	75,000	85,986.98	0.23%
KRAFT FOODS INC 6.125% 23/AUG/2018	N/A	50075NAV6	75,000	85,139.25	0.23%
WHIRLPOOL CORP 8.6% LN STK 01/MAY/2014 USD1000	N/A	96332HCB3	73,000	84,744.53	0.23%
VIACOM INC 5.625% BDS 15/SEP/2019 USD1000	N/A	92553PAD4	76,000	84,396.56	0.22%
CALIFORNIA STATE 7.625% MUNI BDS 01/MAR/2040	N/A	13063BFR8	80,000	83,075.20	0.22%
BMW FINANCE NV 2.875% MTN 18/APR/2013 EUR1000	N/A	B5MPLX7	60,000	82,831.58	0.22%
MACQUARIE GROUP LTD 7.625% 13/AUG/2019	N/A	55608JAB4	75,000	82,725.30	0.22%
OWENS CORNING INC 9.00% BDS 15/JUN/2019 USD1000	N/A	690742AC5	70,000	82,636.33	0.22%
AHOLD FINANCE USA INC 6.875% NTS 01/MAY/2029	N/A	008685AB5	75,000	81,945.08	0.22%
BUNGE LTD FINANCE CORP 8.50% BDS 15/JUN/2019	N/A	120568AT7	68,000	80,263.94	0.21%
EMBARQ CORPORATION 7.082% BDS 01/JUN/2016 USD1000	N/A	29078EAB1	70,000	79,696.82	0.21%
FIRSTENERGY SOLUTIONS CORP 6.05% NTS 15/AUG/2021	N/A	33766JAD5	77,000	79,356.35	0.21%
ANADARKO PETROLEUM CORP 5.95% SNR NTS 15/SEP/2016	N/A	032511AX5	72,000	78,970.32	0.21%
EXPRESS SCRIPTS INC 5.25% LN STK 15/JUN/2012	N/A	302182AC4	75,000	78,956.78	0.21%
BNP PARIBAS 4.80 24/JUN/2015	N/A	05567MAA3	75,000	78,702.98	0.21%
NABORS INDUSTRIES INC 6.15% GTD SNR NTS	N/A	629568AQ9	71,000	76,858.85	0.20%
SAN DIEGO CNTY CALIF WTR AUTH FING AGY WTR REV SER	N/A	79741TAR5	75,000	76,779.75	0.20%
CBS CORP NEW GTD SR NT 8.2% 15/MAY/2014	N/A	124857AB9	65,000	76,018.93	0.20%
CONSTELLATION ENERGY GROUP INC 5.15% BDS	N/A	210371AL4	75,000	74,424.23	0.20%
AMER TOWER CORP 5.05% SR NT 01/SEP/2020 USD	N/A	029912BC5	75,000	73,989.15	0.20%
WYNDHAM WORLDWIDE 6% SNR NTS 01/DEC/2016 USD1000	N/A	98310WAB4	69,000	72,669.63	0.19%
AVIATION CAPITAL GROUP TRUST 7.125% BDS	N/A	05367AAA1	68,000	72,169.08	0.19%
HUMANA INC 7.2% SNR NTS 15/JUN/2018 USD1000	N/A	444859AY8	63,000	71,673.40	0.19%
MOHAWK INDUSTRIES VAR BDS 15/JAN/2016 USD1000	N/A	608190AH7	66,000	71,115.00	0.19%
NEWELL RUBBERMAID INC 4.7% LN STK 15/AUG/2020	N/A	651229AK2	70,000	69,301.82	0.18%
NISSAN MOTOR ACCEPTANCE 4.50% NTS 30/JAN/2015	N/A	654742AB1	66,000	69,002.08	0.18%
GERMANY(FEDERAL REPUBLIC) 3.75% BDS 04/JAN/2017	BB31	B1HNZP8	47,000	68,299.21	0.18%
RRI ENERGY INC 7.625% 15/JUN/2014	N/A	74971XAB3	65,000	68,250.00	0.18%
HSBC FRANCE 3.375% MTN 20/JAN/2017 EUR50000	N/A	B60PDY1	50,000	67,985.28	0.18%
CANADIAN NATL RAILWAY 5.55% 01/MAR/2019	N/A	136375BT8	60,000	67,642.98	0.18%
JC PENNEY CO INC 5.65% SRN 01/JUN/2020 USD1000	N/A	708130AD1	70,000	67,550.00	0.18%
US BANK NA FRN MTN 28/FEB/2017 EUR50000	N/A	B1S7LJ5	50,000	66,875.45	0.18%
HCP INC 5.375% BDS 01/FEB/2021 USD1000	N/A	40414LAD1	66,000	66,479.29	0.18%
UBS AG LONDON 5.625% NTS 19/MAY/2014 EUR1000	N/A	B4R5F33	45,000	65,975.04	0.18%
UNIVERSAL HEALTH SERVICES INC 7.125% BDS	N/A	913903AN0	60,000	65,184.06	0.17%
SLM CORP 8.45% NTS 15/JUN/2018 USD1000'TR 104'	N/A	78442FEH7	60,000	64,825.86	0.17%
TYCO INTERNATIONAL LTD 8.5% BDS 15/JAN/2019	N/A	902118BL1	50,000	64,129.35	0.17%
VALE OVERSEAS LIMITED 6.875% GTD NTS 21/NOV/2036	N/A	B1HMKF0	60,000	63,555.00	0.17%
VALERO ENERGY CORP 9.375% BDS 15/MAR/2019 USD1000	N/A	91913YAN0	50,000	63,571.15	0.17%
ASCIANO LTD 4.625% NTS 23/SEP/2020 USD1000'144A'	N/A	04363UAB2	69,000	63,408.24	0.17%
CIGNA CORP 5.125% BDS 15/JUN/2020 USD1000	N/A	125509BM0	60,000	62,996.28	0.17%
BARCLAYS BANK PLC VAR PERP EUR10000	N/A	B06FPT2	70,000	62,775.53	0.17%
HARLEY-DAVIDSON FDG 5.75% BDS 15/DEC/2014	N/A	41283DAC7	59,000	62,737.95	0.17%
AMEREN CORP 8.875% BDS 15/MAY/2014 USD1000	N/A	023608AE2	54,000	61,902.74	0.16%
INTERNATIONAL PAPER CO 7.95% BDS 15/JUN/2018	N/A	460146CA9	50,000	60,064.35	0.16%
FORD MOTOR CO 7.45% BDS 16/JUL/2031 USD1000	N/A	345370CA6	55,000	60,040.31	0.16%
MASS MUTUAL LIFE 8.875% BDS 01/JUN/2039	N/A	575767AG3	45,000	59,989.32	0.16%
COVENTRY HEALTH CARE INC 6.3% 15/AUG/2014	N/A	222862AH7	55,000	58,549.92	0.16%
ALTRIA GROUP INC 9.7% NTS 10/NOV/2018 USD1000	N/A	02209SAD5	45,000	58,361.09	0.16%
PRINCIPAL FINANCIAL GROUP 7.875% BDS 15/MAY/2014	N/A	74251VAB8	50,000	57,590.95	0.15%
TELECOM ITALIA CAPITAL 5.25% BDS 15/NOV/2013	N/A	87927VAE8	55,000	57,350.32	0.15%
ABN AMRO BANK NV VAR BDS 31/DEC/2049 EUR1000	N/A	B0ZXTD9	55,000	56,100.92	0.15%
EQT CORP 8.125% LN STK 01/JUN/2019 USD2000	N/A	26884LAA7	46,000	54,043.01	0.14%
DYNEGY HLDGS INC 8.375% SNR NTS 01/MAY/2016	N/A	26816LAT9	68,000	53,720.00	0.14%
VALERO ENERGY CORP(NEW) 6.875% BDS 15/APR/2012	N/A	91913YAD2	50,000	53,447.10	0.14%
GOLDMAN SACHS GROUP INC 7.5% SRN 15/FEB/2019	N/A	38141EA25	45,000	52,458.93	0.14%
ANGLOGOLD ASHANTI HLDGS FINANCE PLC 5.375% BDS	N/A	03512TAA9	50,000	51,625.95	0.14%
WINDSTREAM CORP 8.625% 01/AUG/2016	N/A	97381WAD6	48,000	50,880.00	0.14%
CMS ENERGY CORP 8.75% BDS 15/JUN/2019 USD1000	N/A	125896BC3	43,000	50,746.79	0.14%
UNITED STATES STEEL CORP 6.05% BDS 01/JUN/2017	N/A	912909AC2	50,000	50,437.50	0.13%
CNF INC 6.7% BDS 01/MAY/2034 USD1000	N/A	12612WAB0	54,000	49,659.59	0.13%
PRUDENTIAL FINANCIAL INC 5.15% BDS 15/JAN/2013	N/A	74432QBE4	46,000	48,983.79	0.13%
SUPERVALU INC 8% BDS 01/MAY/2016 USD1000	N/A	868536AT0	50,000	48,750.00	0.13%
ECOPETROL SA 7.625% NTS 23/JUL/2019 USD1000	N/A	279158AB5	41,000	47,457.50	0.13%
HARTFORD FINL SVCS GRP 4.00% 30/MAR/2015	N/A	416515AY0	47,000	47,486.17	0.13%
WILLIAMS PARTNERS L.P. 5.25% NTS 15/MAR/2020	N/A	96950FAD6	44,000	45,347.37	0.12%
COMCAST CORP 5.9% BDS 15/MAR/2016 USD1000	N/A	20030NAL5	40,000	44,907.96	0.12%
TEXAS TRANSN COMMN ST HWY FD REV FIRST TIER-SER	N/A	88283LHU3	45,000	43,917.30	0.12%
BAUSCH & LOMB INC 9.875% SRN 01/NOV/2015 USD1000	N/A	071707AP8	40,000	43,200.00	0.11%
HESS CORP 8.125% BDS 15/FEB/2019 USD1000	N/A	42809HAB3	34,000	43,152.05	0.11%
HARTFORD FINANCIAL SERVICES GRP INC 6.3% SNR NTS	N/A	416515AU8	40,000	43,074.24	0.11%
GOLDMAN SACHS GROUP INC 6.00% 15/JUN/2020	N/A	38141EA66	40,000	42,980.12	0.11%
WEATHERFORD INTERNATIONAL LTD 5.15% BDS	N/A	947075AC1	40,000	42,376.36	0.11%
PARKER-HANNIFIN CORP 5.5% BDS 15/MAY/2018 USD2000	N/A	70109HAH8	37,000	41,406.48	0.11%
SOUTHERN CO 4.15% SNR NTS 15/MAY/2014 USD1000	N/A	842587CE5	39,000	41,122.38	0.11%
CVS CAREMARK CORP 6.6% BDS 15/MAR/2019 USD1000	N/A	126650BN9	35,000	40,724.95	0.11%
GUARDIAN LIFE INSURANCE 7.325% 30/SEP/2039	N/A	401378AA2	35,000	40,337.75	0.11%
WELLPOINT INC 4.35% NTS 15/AUG/2020 USD1000	N/A	94973VAS6	40,000	39,814.24	0.11%
JEFFERIES GROUP INC 6.875% 15/APR/2021	N/A	472319AH5	37,000	39,357.68	0.10%
MARRIOTT INTERNATIONAL INC 6.2% BDS 15/JUN/2016	N/A	571903AF0	35,000	38,355.49	0.10%
SOUTHWEST AIRLINES CO 5.75% BDS 15/DEC/2016	N/A	844741AY4	35,000	38,101.04	0.10%
ING CAPITAL FUNDING TRUST III VAR% PERP GTD BDS	N/A	44978NAA3	40,000	37,878.00	0.10%
AMERICAN EXPRESS CO 7.25% LN STK 20/MAY/2014	N/A	025816BA6	33,000	37,792.56	0.10%
SOUTHWEST AIRLINES CO 5.25% 01/OCT/2014	N/A	844741AW8	35,000	37,568.55	0.10%
PERU(REPUBLIC OF) 7.125% BDS 30/MAR/2019 USD1000	N/A	B3P35N2	31,000	37,029.50	0.10%
LIBERTY MUT GROUP INC 7.8% JR SB NTS 07/MAR/2087	N/A	53079EAN4	37,000	37,000.00	0.10%
EDISON MISSION ENERGY 7% SNR NTS 15/MAY/2017	N/A	281023AU5	45,000	36,900.00	0.10%
INTERPUBLIC GROUP CO INC 6.25% 15/NOV/2014	N/A	460690AV2	33,000	35,640.00	0.09%
XEROX CORP 8.25% BDS 15/MAY/2014 USD1000	N/A	984121BY8	30,000	35,439.75	0.09%
UNITEDHEALTH GROUP INC 6% 15/FEB/2018	N/A	91324PBJ0	30,000	34,008.93	0.09%
ACCO BRANDS CORP SR NT 10.625% 15/MAR/2015	N/A	00081TAD0	30,000	33,900.00	0.09%
TESORO CORP 6.5% 01/JUN/2017	N/A	881609AT8	33,000	33,660.00	0.09%
ALCOA INC 6.75% SNR NTS 15/JUL/2018 USD1000	N/A	013817AS0	30,000	33,475.89	0.09%
DCP MIDSTREAM LLC 9.75% BDS 15/MAR/2019	N/A	23311RAC0	25,000	32,297.35	0.09%
DTE ENERGY COOMPANY 7.625% 15/MAY/2014	N/A	233331AN7	28,000	32,289.04	0.09%
DIRECTV HLDGS/FINANCE 4.75% NTS 01/OCT/2014	N/A	25459HAL9	30,000	32,167.11	0.09%
HERTZ CORP 8.875% SNR NTS 01/JAN/2014 USD1000	N/A	428040BZ1	31,000	31,813.75	0.08%
TELUS CORP 4.95% UNS 15/MAY/2014 CAD1000	N/A	B4XH1L3	30,000	31,776.30	0.08%
MARATHON OIL CORP 7.50% BDS 15/FEB/2019 USD1000	N/A	565849AH9	25,000	31,603.48	0.08%
CSC HOLDINGS INC 8.50% BDS 15/APR/2014 USD1000	N/A	126307AA5	28,000	31,290.00	0.08%
MARKEL CORP 7.125% SR NTS 30/SEP/2019 USD1000	N/A	570535AH7	27,000	30,204.55	0.08%
INGERSOLL-RAND PLC 9.5% BDS 15/APR/2014 USD1000	N/A	45687AAE2	25,000	30,084.45	0.08%
GEORGIA PACIFIC CORP 5.4% BDS 01/NOV/2020 USD1000	N/A	37331NAB7	30,000	29,617.74	0.08%
TOLL BROTHERS FINANCE CORP 8.91% BDS 15/OCT/2017	N/A	88947EAH3	25,000	29,478.15	0.08%
MACQUARIE BANK LTD VAR 31/MAY/2017	N/A	B1WRPB1	30,000	29,041.82	0.08%
CASE NEW HOLLAND INC 7.875% BDS 01/DEC/2017	N/A	147446AQ1	26,000	28,892.50	0.08%
COMPAGNIE DE FINANCEMENT FONCIER 4.625% MTN	N/A	B28J3J2	19,000	27,367.35	0.07%
WELLPOINT INC 7.00% BDS 15/FEB/2019 USD1000	N/A	94973VAR8	23,000	27,163.12	0.07%
MYLAN INC 7.875% 15/JUL/2020 144A	N/A	628530AL1	24,000	26,550.00	0.07%
RYDER SYSTEM INC 5.85% MTN 01/NOV/2016 USD1000	N/A	78355HJK6	24,000	26,398.18	0.07%
WILLIAMS COMPANIES INC 7.875% BDS 01/SEP/2021	N/A	969457BG4	22,000	26,186.03	0.07%
AES CORPORATION 7.75% 01/MAR/2014	N/A	00130HBC8	24,000	26,040.00	0.07%
TECO FINANCE 5.15% BDS 15/MAR/2020 USD1000	N/A	87875UAK8	25,000	25,956.60	0.07%
LINCOLN NATIONAL CORP 8.75% NTS 01/JUL/2019	N/A	534187AX7	19,000	23,853.59	0.06%
RYDER SYSTEM INC 7.20% 01/SEP/2015	N/A	78355HJN0	20,000	23,278.96	0.06%
WELLPOINT INC 5.875% BDS 15/JUN/2017 USD1000	N/A	94973VAM9	20,000	22,373.08	0.06%
DELHAIZE AMERICA INC 5.875% BDS 01/FEB/2014	N/A	24668PAC1	20,000	22,068.94	0.06%
MARATHON PETE CORP SR NT 144A 01/MAR/2021	N/A	56585AAB8	21,000	21,187.95	0.06%
XEROX CORP 4.25% NTS 15/FEB/2015 USD1000	N/A	984121BZ5	20,000	21,055.64	0.06%
TECO FINANCE 4% BDS 15/MAR/2016 USD1000	N/A	87875UAJ1	20,000	20,459.44	0.05%
NATIONAL CAPITAL TRST II VAR PERP 144A	N/A	635192AA5	18,000	17,566.27	0.05%
UNION ELECTRIC CO 6.7% MTG BDS 01/FEB/2019 USD2000	N/A	906548CG5	15,000	17,380.74	0.05%
CRICKET COMMUNICATIONS INC 7.75% BDS 15/MAY/2016	N/A	226566AK3	15,000	15,787.50	0.04%
DCP MIDSTREAM LLC 5.35% BDS 15/MAR/2020	N/A	23311RAD8	15,000	15,568.89	0.04%
AFLAC INC 3.45% BDS 15/AUG/2015 USD1000	N/A	001055AE2	15,000	15,445.65	0.04%
COVENTRY HEALTHCARE INC 5.95% SNR NTS 15/MAR/2017	N/A	222862AG9	15,000	15,404.04	0.04%
AGILENT TECHNOLOGIES INC 5% NTS 15/JUL/2020	N/A	00846UAG6	15,000	15,248.19	0.04%
ANTERO RESOURCES FINANCE 9.375% SR NT 01/DEC/2017	N/A	03674PAC7	14,000	14,735.00	0.04%
MARATHON PETROLEUM 3.5% SNR NTS 01/MAR/2016 USD10	N/A	56585AAA0	13,000	13,119.69	0.03%
CCO HLDGS LLC/CCO HLDGS CAPITAL CP 7.875% SR NT	N/A	1248EPAL7	12,000	12,630.00	0.03%
TEXTRON FINANCIAL CORP 5.4% MTN 28/APR/2013	N/A	88319QM59	11,000	11,601.76	0.03%
HOLCIM FINANCE LUX SA 6% BDS 30/DEC/2019	N/A	43474TAA1	11,000	11,508.73	0.03%
HCA INC 8.5% NTS 15/APR/2019 USD1000	N/A	404119BF5	10,000	11,150.00	0.03%
HUMANA INC 6.45% 01/JUN/2016	N/A	444859AV4	10,000	11,045.00	0.03%
PRUDENTIAL FINANCIAL INC 6.20% BDS 15/JAN/2015	N/A	74432QBF1	10,000	11,043.35	0.03%
MYLAN INC 7.625% BDS 15/JUL/2017 USD1000 144A	N/A	628530AK3	10,000	10,900.00	0.03%
HUMANA INC 6.3% 01/AUG/2018	N/A	444859AU6	10,000	10,775.53	0.03%
COVENTRY HEALTHCARE INC 6.125% BDS 15/JAN/2015	N/A	222862AF1	10,000	10,475.32	0.03%
NOBLE HOLDING INTERNATIONAL 4.9% BDS 01/AUG/2020	N/A	65504LAC1	8,000	8,164.41	0.02%
UNIVISION COMMUNICATIONS INC 12% BDS 01/JUL/2014	N/A	914906AF9	7,000	7,638.75	0.02%
PRUDENTIAL FINANCIAL INC 7.375% BDS 15/JUN/2019	N/A	74432QBG9	5,000	5,928.05	0.02%
AES CORP 7.75% SNR NTS 15/OCT/2015 USD1000	N/A	00130HBL8	5,000	5,425.00	0.01%
CCO HLDGS LLC/CCO HLDGS CAPITAL CP 8.125% SR NT	N/A	1248EPAP8	5,000	5,325.00	0.01%
TECK RESOURCES LTD 6.0% BDS 15/AUG/2040 USD1000	N/A	878742AS4	4,000	4,047.10	0.01%

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