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NVIT Short Term Bond Fund

Top Holdings (all classes) as of 04/30/201203/30/201202/29/2012

View all holdings as of 04/30/2012 | 03/30/2012 | 02/29/2012

Holding	Percent
FEDERAL HOME LN MTG CORP PTN CTFS 1% MTG BDS	3.85%
FEDERAL HOME LOAN MORTGAGE CORP 0.75% NTS	3.58%
BANC OF AMERICA MORTGAGE TRUST 01/JUN/2004-A-3	1.19%
FEDERAL HOME LOAN BANK 1.75% 08/MAR/2013	1.13%
US CENTRAL FEDERAL CRED 1.90% 19/OCT/2012	1.13%
FEDERAL HOME LOAN MORTGAGE CORP 0.5% NTS	1.12%
VOLKSWAGEN INTERNATIONAL FINANCE NV FR BDS	1.12%
FREDDIE MAC 3827 UA 3.500% 15/MAR/2026	1.10%
INTERNATIONAL NEDERLAND BANK NV 144A 5.125% DUE	1.09%
L-3 COMMUNICATIONS CORP 3.95% BDS 15/NOV/2016	1.03%

Holding	Ticker	Security No	Shares	Market Value	Percent
FEDERAL HOME LN MTG CORP PTN CTFS 1% MTG BDS	N/A	3134G2UA8	51,000,000	51,711,195.00	3.85%
FEDERAL HOME LOAN MORTGAGE CORP 0.75% NTS	N/A	3134G1P65	48,000,000	48,164,256.00	3.58%
BANC OF AMERICA MORTGAGE TRUST 01/JUN/2004-A-3	N/A	05949AJP6	15,300,128	15,953,000.21	1.19%
FEDERAL HOME LOAN BANK 1.75% 08/MAR/2013	N/A	3133XWX87	15,000,000	15,178,635.00	1.13%
US CENTRAL FEDERAL CRED 1.90% 19/OCT/2012	N/A	90345AAC6	15,000,000	15,116,970.00	1.13%
FEDERAL HOME LOAN MORTGAGE CORP 0.5% NTS	N/A	3134G23H3	15,000,000	15,011,745.00	1.12%
VOLKSWAGEN INTERNATIONAL FINANCE NV FR BDS	N/A	928670AH1	15,000,000	14,994,585.00	1.12%
FREDDIE MAC 3827 UA 3.500% 15/MAR/2026	N/A	3137A7YU8	14,296,524	14,737,410.43	1.10%
INTERNATIONAL NEDERLAND BANK NV 144A 5.125% DUE	N/A	449786AA0	14,495,000	14,593,580.50	1.09%
L-3 COMMUNICATIONS CORP 3.95% BDS 15/NOV/2016	N/A	502413BB2	13,000,000	13,796,757.00	1.03%
LORILLARD TOBACCO CO 3.5% BDS 04/AUG/2016 USD1000	N/A	544152AD3	12,700,000	13,307,974.40	0.99%
HEWLETT PACKARD CO 2.35% SNR 15/MAR/2015 USD2000	N/A	428236BN2	13,000,000	13,261,729.00	0.99%
FREDDIE MAC 3614 QA 4.000% 15/MAY/2024	N/A	31398LK98	12,549,148	13,205,050.23	0.98%
CBS CORP NEW GTD SR NT 8.2% 15/MAY/2014	N/A	124857AB9	11,400,000	12,948,085.80	0.96%
FANNIE MAE 2010-135 FP VARIABLE 25/DEC/2040	N/A	31398SG98	12,537,115	12,526,115.93	0.93%
NOBLE HLDGS INTL 3.45% BDS 01/AUG/2015 USD1000	N/A	65504LAB3	11,000,000	11,634,271.00	0.87%
ANADARKO PETROLEUM CORP 5.95% SNR NTS 15/SEP/2016	N/A	032511AX5	10,000,000	11,561,440.00	0.86%
BANC AMERICA COML MTG INC 5.182% CMO 10/SEP/2047	N/A	05947U4D7	10,015,000	11,216,589.69	0.83%
CYTEC INDUSTRIES INC. 6.00% 01/OCT/2015	N/A	232820AG5	10,000,000	11,041,410.00	0.82%
MERRILL LYNCH MTG TRUST 4.747% 12/JUN/2043	N/A	59022HHJ4	10,026,000	10,887,373.76	0.81%
TRANSOCEAN INC(NEW) 5.05% BDS 15/DEC/2016 USD1000	N/A	893830BA6	10,000,000	10,858,860.00	0.81%
CAREFUSION CORP 5.125% BDS 01/AUG/2014 USD1000	N/A	14170TAF8	10,000,000	10,807,980.00	0.80%
DISCOVERY COMMUNICATIONS INC 3.7% BDS 01/JUN/2015	N/A	25470DAB5	10,000,000	10,694,160.00	0.80%
BANK OF AMERICA CORP 6% MTN 15/JUN/2016 USD1000	N/A	06050TJP8	10,000,000	10,688,660.00	0.80%
BP CAPITAL MARKETS 3.2% BDS 11/MAR/2016 USD1000	N/A	05565QBQ0	10,000,000	10,653,400.00	0.79%
BEAR STEARNS COMMERCIAL MORTGAGE SECURITIES SER	N/A	07383FU71	9,735,000	10,435,267.76	0.78%
EXPRESS SCRIPTS INC 3.125% NTS 15/MAY/2016 USD1000	N/A	302182AF7	10,000,000	10,429,460.00	0.78%
AMERITECH CAP FUNDING CORP DEB 9.10% 01/JUN/2016	N/A	030955AB4	8,723,200	10,287,487.84	0.77%
FIDELITY INSTITUTIONAL MMKT PORTFOLIO INST CLASS -	N/A	89199B034	10,199,150	10,199,149.89	0.76%
SVENSKA HANDELSBKN 2.875% BDS 04/APR/2017 USD100	N/A	86960BAB8	10,000,000	10,167,340.00	0.76%
CONTINENTAL AIRLINES INC VAR 02/JUN/2015	N/A	210795PR5	10,530,099	10,161,545.24	0.76%
KINROSS GOLD CORP 3.625% BDS 01/SEP/2016 USD1000	N/A	496902AE7	10,000,000	10,145,490.00	0.76%
BERKSHIRE HATHAWAY INC FRN 15/AUG/2014 USD2000	N/A	084670BA5	10,000,000	10,108,630.00	0.75%
CATERPILLAR FINANCIAL SERVICES CORP 1.125% MTN	N/A	14912L4Y4	10,000,000	10,093,850.00	0.75%
DAIMLER FINANCE NA LLC FRN 13/SEP/2013 USD150000	N/A	233851AE4	10,000,000	10,068,700.00	0.75%
DTE ENERGY CO NT VAR 13 03/JUN/2013	N/A	233331AP2	10,000,000	10,041,800.00	0.75%
WATSON PHARMACEUTICALS INC 5% UNS LN STK	N/A	942683AD5	9,384,000	10,039,031.35	0.75%
GS MORTGAGE SECURITIES CORPORATION II VAR RATE DUE	N/A	36228CTH6	9,217,000	9,936,746.31	0.74%
NATIONAL CITY BANK(CLEVELAND) FRN 15/DEC/2016	N/A	63534PAF4	10,432,000	9,777,444.16	0.73%
TECK COMINCO 5.375 01/OCT/2015	N/A	878742AF2	8,820,000	9,726,678.36	0.72%
ANGLO AMERICAN CAPITAL 9.375% SNR NTS 08/APR/2014	N/A	034863AA8	8,300,000	9,502,562.10	0.71%
HOSPIRA INC 6.05% BDS 30/MAR/2017 USD1000	N/A	441060AJ9	8,356,000	9,404,861.83	0.70%
BARRICK INTL BK CORP NT-A 5.75% 15/OCT/2016	N/A	06849AAA7	8,000,000	9,322,720.00	0.69%
CELGENE CORP 2.45% BDS 15/OCT/2015 USD1000	N/A	151020AD6	8,850,000	9,078,046.80	0.68%
SANTANDER HLDGS USA INC 4.625% BDS 19/APR/2016	N/A	80282KAA4	9,000,000	8,968,941.00	0.67%
THERMO ELECTRON CORP 5% NTS 01/JUN/2015 USD1000	N/A	883556AP7	8,000,000	8,947,256.00	0.67%
FREDDIE MAC 3609 JA 4.000% 15/JUN/2023	N/A	31398LN61	8,266,362	8,572,886.55	0.64%
REYNOLDS AMERICAN INC 7.25% SNR NTS 01/JUN/2013	N/A	761713AD8	8,000,000	8,493,216.00	0.63%
ILLINOIS (STATE OF) 4.511% BDS 01/MAR/2015 USD1000	N/A	452152HQ7	8,000,000	8,449,840.00	0.63%
HARLEY DAVIDSON FINANCIAL SERVICES 3.875% NTS	N/A	41283LAA3	8,000,000	8,387,464.00	0.62%
QUEST DIAGNOSTICS INC SR NT FLT 14 24/MAR/2014	N/A	74834LAT7	8,000,000	8,064,192.00	0.60%
MORGAN STANLEY 4.75% SUB NTS 01/APR/2014 USD1000	N/A	61748AAE6	8,000,000	8,063,328.00	0.60%
SEMPRA ENERGY CORP VAR BDS 15/MAR/2014 USD100	N/A	816851AR0	8,000,000	8,007,152.00	0.60%
COX COMMUNICATIONS INC 7.25% BDS 15/NOV/2015	N/A	224044AK3	6,770,000	7,969,501.83	0.59%
UNION BANK CALIFORNIA N A 5.95% MTN 11/MAY/2016	N/A	90520GAA4	7,000,000	7,830,109.00	0.58%
WEATHERFORD INTERNATIONAL 5.5% BDS 15/FEB/2016	N/A	947076AB1	7,000,000	7,761,061.00	0.58%
JP MORGAN CHASE & C 5.25000 01/MAY/2015	N/A	46625HAX8	7,000,000	7,662,746.00	0.57%
MORGAN STANLEY CAPITAL I 61745MQ89 VAR 15/JUN/2040	N/A	61745MQ89	7,015,000	7,515,590.40	0.56%
TOYOTA MOTOR CREDIT CORP 3.2% BDS 17/JUN/2015	N/A	89233P4B9	7,035,000	7,496,545.25	0.56%
XEROX CORP VAR BDS 16/MAY/2014 USD10000	N/A	984121CC5	7,500,000	7,461,840.00	0.56%
TRANS-ALLEGHENY INTERSTATE 4.00% BDS 15/JAN/2015	N/A	893045AC8	7,000,000	7,402,416.00	0.55%
STANDARD CHARTERED 3.85% NTS 27/APR/2015	N/A	853254AF7	7,000,000	7,338,856.00	0.55%
PSEG POWER LLC 2.75% BDS 15/SEP/2016 USD1000	N/A	69362BAX0	7,000,000	7,170,821.00	0.53%
PRUDENTIAL FINANCIAL INC 2.75% 14/JAN/2013	N/A	74432QBK0	7,000,000	7,098,462.00	0.53%
SAFEWAY INC 6.25% 15/MAR/2014	N/A	786514BQ1	6,525,000	7,053,975.23	0.52%
ERAC USA FINANCE LLC 2.25% BDS 10/JAN/2014 USD1000	N/A	26884TAC6	7,000,000	7,044,793.00	0.52%
ENERGY TRANSFER PARTNERS L.P. 5.95% NTS	N/A	29273RAB5	6,345,000	6,957,628.79	0.52%
GENENTECH INC 4.75% NTS 15/JUL/2015 USD1000	N/A	368710AG4	5,930,000	6,628,933.52	0.49%
CITIGROUP INC 6.00% 13/DEC/2013	N/A	172967FE6	6,000,000	6,335,076.00	0.47%
XEROX CORP 6.4% SNR NTS 15/MAR/2016 USD1000	N/A	984121BP7	5,500,000	6,327,117.50	0.47%
ENERGY TRANSFER PARTNERS L.P. 6% BDS 01/JUL/2013	N/A	29273RAG4	6,000,000	6,274,476.00	0.47%
METRO LIFE GBL FD1 2% BDS 09/JAN/2015 USD1000 144	N/A	59217GAM1	6,000,000	6,097,932.00	0.45%
HSBC USA INC 2.375% BDS 13/FEB/2015 USD1000	N/A	40428HPG1	6,000,000	6,065,610.00	0.45%
ENBRIDGE ENERGY PA 5.875% SNR 15/DEC/2016 USD1000	N/A	29250RAH9	5,250,000	6,052,294.50	0.45%
TOYOTA MOTOR CRED 1% BDS 17/FEB/2015 USD1000	N/A	89233P5Z5	6,000,000	6,010,200.00	0.45%
JP MORGAN CHASE COMMERCIAL MORTGAGE P-T SECURITIES	N/A	46625YQB2	5,634,115	5,722,531.39	0.43%
DTE ENERGY COOMPANY 7.625% 15/MAY/2014	N/A	233331AN7	5,000,000	5,609,720.00	0.42%
TIME WARNER INC 3.15% BDS 15/JUL/2015 USD1000	N/A	887317AJ4	5,250,000	5,557,130.25	0.41%
TYCO ELECTRONICS GROUP S A 5.95% BDS 15/JAN/2014	N/A	902133AH0	5,065,000	5,408,153.75	0.40%
IUNITED DOMINION RLTY TR	N/A	91019PCP5	5,000,000	5,369,130.00	0.40%
ENTERPRISE PRODUCTS OPER 3.70% 01/JUN/2015	N/A	29379VAR4	5,000,000	5,356,465.00	0.40%
MORGAN STANLEY CAPITAL I INC 2011-C1 A-2 3.884%	N/A	617458AC8	5,000,000	5,351,085.00	0.40%
COMMONWEALTH REIT 6.25% BDS 15/JUN/2017 USD1000	N/A	40426WAU5	5,000,000	5,345,950.00	0.40%
HRPT PROPERTIES TRUST 6.4% NTS 15/FEB/2015 USD1000	N/A	40426WAP6	5,000,000	5,322,510.00	0.40%
NEW VALLEY GENERATION II 01-1 CERTS 5.572%	N/A	649085AA5	4,559,349	5,316,201.40	0.40%
KINDER MORGAN ENER 3.5% SNR 01/MAR/2016 USD1000	N/A	494550BG0	5,000,000	5,301,330.00	0.39%
DIRECTV HLDGS/FINANCE 3.55% SR NT 15/MAR/2015	N/A	25459HAN5	5,000,000	5,289,670.00	0.39%
BG ENERGY CAPITAL 2.875% GTD NTS 15/OCT/2016	N/A	05541VAD8	5,000,000	5,237,370.00	0.39%
FEDERAL HOME LOAN BANKS CONS BD 3.125% 13/DEC/2013	N/A	3133XSP93	5,000,000	5,226,620.00	0.39%
BANK AMER N A CHARLOTTE N C 5.3% NTS 15/MAR/2017	N/A	06050TKN1	5,000,000	5,214,735.00	0.39%
DBUBS COMMERCIAL MORTGAGE PT TRUST 2011-LC1 A-1	N/A	233050AN3	4,878,279	5,211,680.61	0.39%
XSTRATA FINANCE CANADA 3.6% BDS 15/JAN/2017	N/A	98417EAG5	5,000,000	5,194,595.00	0.39%
FEDERAL HOME LN BKS CONS BD 2.375% 14/MAR/2014	N/A	3133XWKV0	5,000,000	5,189,730.00	0.39%
PRUDENTIAL FINANCIAL INC 5.15% BDS 15/JAN/2013	N/A	74432QBE4	5,000,000	5,152,100.00	0.38%
XSTRATA FINANCE CANADA 2.85% BDS 10/NOV/2014	N/A	98417EAD2	5,000,000	5,118,540.00	0.38%
SABMILLER HLDGS INC 1.85% GTD NTS 15/JAN/2015	N/A	78573AAD2	5,000,000	5,070,295.00	0.38%
FEDERAL AGRICULTURAL MORTGAGE CORP 1.25% NTS	N/A	31315PLT4	5,000,000	5,066,140.00	0.38%
USAA CAPITAL CORP 2.25% BDS 13/DEC/2016 USD1000	N/A	90327QCW7	5,000,000	5,045,785.00	0.38%
ARCELORMITTAL SA 3.75% BDS 01/MAR/2016 USD1000	N/A	03938LAT1	5,030,000	5,039,607.30	0.38%
AMERICAN HONDA FINANCE CORP 1.45% BDS 27/FEB/2015	N/A	02666QK69	5,000,000	5,033,385.00	0.37%
METLIFE INSTITUTIONAL FUNDING II 1.625% BDS	N/A	59157BAH5	5,000,000	5,006,645.00	0.37%
USAA CAPITAL CORP 1.05% BDS 30/SEP/2014 USD1000	N/A	90327QCV9	5,000,000	4,959,225.00	0.37%
GENERAL ELECTRIC CAPITAL CORP FR MTN 08/JAN/2016	N/A	36962GU51	5,000,000	4,825,465.00	0.36%
WACHOVIA CORP NEW VAR 28/OCT/2015	N/A	929903AR3	5,000,000	4,752,975.00	0.35%
GENERAL ELECTRIC CAPITAL CORP SER'A' FLTG RATE NTS	N/A	36962G2F0	5,000,000	4,701,475.00	0.35%
JP MORGAN CHASE BK NEW YORK NY FRN 13/JUN/2016	N/A	48121CJM9	5,000,000	4,670,780.00	0.35%
SUNTRUST BANK ATLANTA GA FLTG RATE SUB NTS	N/A	86787GAH5	5,000,000	4,619,710.00	0.34%
TRAVELERS COMPANIES INC 5.5% NTS 01/DEC/2015	N/A	792860AH1	4,010,000	4,574,491.71	0.34%
SAFEWAY INC 6.35% BDS 15/AUG/2017 USD1000	N/A	786514BP3	3,924,000	4,481,082.43	0.33%
TRANSOCEAN INC(NEW) 6% SNR NTS 15/MAR/2018 USD1000	N/A	893830AS8	4,000,000	4,476,288.00	0.33%
GEN ELEC CAP CORP FR MTN 15/SEP/2014 USD1000	N/A	36962GK94	4,500,000	4,447,741.50	0.33%
RESIDENTIAL ACCREDIT LOANS INC 5% CMO 25/NOV/2018	N/A	76110HMB2	4,295,752	4,418,924.12	0.33%
BEAR STEARNS COMMERCIAL MORTGAGE SECURITIES	N/A	07383FXJ2	4,225,000	4,390,932.65	0.33%
BEAR STEARNS COMM MTG SEC 2005-T18 A4 4.933%	N/A	07383F5K0	4,000,000	4,361,660.00	0.32%
AMERICAN HONDA FINANCE 2.50% 21/SEP/2015	N/A	02666QG64	4,200,000	4,352,397.00	0.32%
TEVA PHARMACEUTICAL FINANCE IV FRN 21/MAR/2014	N/A	88166DAB2	4,300,000	4,295,897.80	0.32%
WEATHERFORD INTERNATIONAL LTD 5.15% BDS	N/A	947075AC1	4,000,000	4,140,644.00	0.31%
STANDARD CHARTERED 3.2% NTS 12/MAY/2016 USD100000	N/A	853254AG5	4,000,000	4,089,444.00	0.30%
XSTRATA CANADA CORP 6% 15/OCT/2015	N/A	655422AT0	3,650,000	4,077,644.95	0.30%
MOLSON COORS BREWING CO 2.0% BDS 01/MAY/2017	N/A	60871RAB6	4,000,000	4,013,084.00	0.30%
HARLEY-DAVIDSON FDG 5.75% BDS 15/DEC/2014	N/A	41283DAC7	3,385,000	3,684,149.38	0.27%
VERIZON NEW ENGLAND INC 92344RAB8 4.75%	N/A	92344RAB8	3,495,000	3,669,973.68	0.27%
REYNOLDS AMERICAN INC 7.625% SNR NTS 01/JUN/2016	N/A	761713AE6	3,000,000	3,616,908.00	0.27%
FHLMC MORTPASS ARM 01/JUN/2037 1Q PN# 1Q0648	N/A	3128S4WH6	3,335,354	3,567,737.40	0.27%
ANADARKO PETROLEUM CORP 6.375% BDS 15/SEP/2017	N/A	032511BH9	3,000,000	3,565,239.00	0.27%
FEDERAL EXPRESS CORP PASS THRU TR 1993 PASS THRU	N/A	31331FAB7	3,200,378	3,488,411.78	0.26%
FEDERAL EXPRESS CORP PASS THR 1993 PASS THRU CTF	N/A	31331FAD3	3,224,163	3,479,661.59	0.26%
FMR CORP 4.75% 144A 01MAR01/MAR/2013	N/A	302508BA3	3,375,000	3,477,407.63	0.26%
CITIGROUP INC 4.45% BDS 10/JAN/2017 USD100	N/A	172967FW6	3,300,000	3,447,189.90	0.26%
ARCELORMITTAL SA 9% LN STK 15/FEB/2015 USD1000	N/A	03938LAL8	3,000,000	3,437,229.00	0.26%
BORG-WARNER AUTOMATIVE INC 5.75% BDS 01/NOV/2016	N/A	099724AE6	3,000,000	3,403,719.00	0.25%
MORGAN STANLEY CAPITAL I TR 5.712% CMO 12/JUL/2044	N/A	61750CAD9	3,270,000	3,335,982.06	0.25%
FNMA MORTPASS ARM 01/JUL/2034 LB PN# 747271	N/A	31403FFL3	3,062,826	3,275,243.27	0.24%
MORGAN STANLEY DEAN WITTER CAP I TR 2003 TOP9 MTG	N/A	61746WZA1	3,213,350	3,258,278.76	0.24%
FREDDIE MAC 3728 EA 3.500% 15/SEP/2020	N/A	3137A1WC3	3,151,598	3,252,833.16	0.24%
REYNOLDS AMERICAN INC 7.3% SNR NTS 15/JUL/2015	N/A	761713AR7	2,814,000	3,191,641.61	0.24%
COBANK ACB FRN 15/JUN/2022 USD1000 '144A'	N/A	19075QAA0	4,000,000	3,179,936.00	0.24%
CITIGROUP INC 6.5% SR NT 19/AUG/2013 USD1000	N/A	172967EU1	3,000,000	3,163,137.00	0.24%
DAIMLER FINANCE NA LLC 2.95% BDS 11/JAN/2017	N/A	233851AK0	3,000,000	3,129,504.00	0.23%
GINNIE MAE 2009-22 AG 4.000% 16/OCT/2032	N/A	38374TRB2	2,974,298	3,091,092.48	0.23%
ARISTOTLE HOLDING INC 2.75% BDS 21/NOV/2014	N/A	04044TAA4	3,000,000	3,083,424.00	0.23%
ERAC USA FINANCE LLC 2.75% BDS 15/MAR/2017 USD1000	N/A	26884TAF9	3,000,000	3,018,891.00	0.22%
CREDIT ACCEPTANCE AUTO LOAN TRUST 2012-1 A 2.200%	N/A	22532VAA0	3,000,000	3,007,954.80	0.22%
HARLEY DAVIDSON 2.7% BDS 15/MAR/2017 USD100	N/A	41283LAB1	3,000,000	2,999,715.00	0.22%
FREDDIE MAC 3640 EL 4.000% 15/MAR/2020	N/A	31398VGZ3	2,817,211	2,967,349.38	0.22%
TYCO INTERNATIONAL 6% NTS 15/NOV/2013 USD1000	N/A	902118BK3	2,750,000	2,958,169.50	0.22%
FREDDIE MAC 3616 PA 4.500% 15/NOV/2039	N/A	31398LHE1	2,673,182	2,850,501.96	0.21%
SVENSKA HANDELSBANKEN 2.875% SNR NTS 14/SEP/2012	N/A	86959LAB9	2,750,000	2,772,052.25	0.21%
ROWAN COS INC 5.0% BDS 01/SEP/2017 USD1000	N/A	779382AN0	2,505,000	2,703,636.48	0.20%
GINNIE MAE 2010-29 BA 4.500% 20/APR/2036	N/A	38376XPH0	2,513,860	2,658,665.05	0.20%
TCI COMMUNICATIONS INC 8.75% SNR DEBS 01/AUG/2015	N/A	872287AC1	2,000,000	2,456,138.00	0.18%
METLIFE INC 6.75% BDS 01/JUN/2016 USD1000	N/A	59156RAU2	2,000,000	2,373,562.00	0.18%
NEXEN INC 5.65% BDS 15/MAY/2017 USD1000	N/A	65334HAF9	2,000,000	2,242,398.00	0.17%
SUNOCO LOGISTICS PARTNERS SR NT 6.125% 15/MAY/2016	N/A	86765BAE9	2,000,000	2,242,932.00	0.17%
METLIFE INC 5% 15/JUN/2015	N/A	59156RAN8	2,000,000	2,207,312.00	0.16%
FNMA MORTPASS ARM 01/SEP/2037 LB PN# 949691	N/A	31413MRL3	1,914,793	2,085,042.90	0.16%
ITC HOLDINGS CORP 465685AA3 5.25% 15/JUL/2013	N/A	465685AA3	2,000,000	2,072,704.00	0.15%
ARISTOTLE HOLDING INC 2.1% BDS 12/FEB/2015 USD1000	N/A	04044TAG1	2,000,000	2,029,852.00	0.15%
HEWLETT-PACKARD CO 2.2% BDS 01/DEC/2015 USD1000	N/A	428236BE2	2,000,000	2,025,640.00	0.15%
BEAR STEARNS COML MTG SECS TRUST FR CMO	N/A	07387JAE6	1,730,000	1,970,227.80	0.15%
COVIDIEN INTERNATIONAL FINANCE 5.45% BDS	N/A	22303QAF7	1,800,000	1,838,889.00	0.14%
ENERGY TRANSFER PARTNERS L.P. 8.5% BDS 15/APR/2014	N/A	29273RAL3	1,604,000	1,801,338.52	0.13%
JPMORGAN CHASE & CO 5.875533% MTG BDS 15/APR/2045	N/A	46628FAH4	1,688,434	1,796,338.55	0.13%
FNMA MORTPASS ARM 01/SEP/2036 S1 PN# 893776	N/A	31410P6M0	1,545,838	1,683,849.94	0.13%
FEDERAL EXPRESS CORP PASS THRU TR 1993 PASS THRU	N/A	31331FAF8	1,448,255	1,636,528.64	0.12%
FNMA MORTPASS ARM 01/AUG/2036 S1 PN# 886345	N/A	31410DWE6	1,472,528	1,605,672.60	0.12%
HRPT PROPERTIES TR 6.25% BDS 15/AUG/2016 USD1000	N/A	40426WAR2	1,500,000	1,591,278.00	0.12%
ERAC USA FINANCE COMPANY 5.60% 01/MAY/2015	N/A	26882PAS1	1,225,000	1,345,881.78	0.10%
VIACOM INC 4.25% NTS 15/SEP/2015 USD1000	N/A	92553PAF9	1,140,000	1,243,395.72	0.09%
RABOBANK NEDERLAND 3.375% BDS 19/JAN/2017 USD1000	N/A	21686CAD2	1,100,000	1,135,024.00	0.08%
UNIONBANCAL CORP NTS DUE 16/DEC/2013 5.25	N/A	904851AA0	1,075,000	1,135,115.08	0.08%
CELLCO PART/VERI WIRELSS 7.375% SNR NTS	N/A	92344SAJ9	1,000,000	1,096,565.00	0.08%
FREDDIE MAC 3563 BA 4.000% 15/JUN/2022	N/A	31398JG56	1,071,081	1,094,212.82	0.08%
AMERICAN HONDA FINANCE CORP 6.7% MTN 01/OCT/2013	N/A	02666QD67	1,000,000	1,075,218.00	0.08%
MORGAN STANLEY CAP I INC 2004-TOP13 COML MTG	N/A	61745MVB6	1,000,000	1,048,296.00	0.08%
JP MORGAN CHASE COMMERCIAL MORTGAGE SECURITIES	N/A	46636DAC0	1,000,000	1,047,500.00	0.08%
WEATHERFORD INTL INC 4.95% 15/OCT/2013	N/A	947075AA5	1,000,000	1,047,916.00	0.08%
LB-USB COMMERCIAL MORTGAGE TRUST SERIES 2005-C3 CL	N/A	52108H4S0	1,005,393	1,005,333.35	0.07%
BEAR STEARNS COS.INC 6.95% MTN 10/AUG/2007 USD1000	N/A	073928X73	867,000	882,064.13	0.07%
FEDEX CORP 6.72% BDS 15/JAN/2022 USD1000 SER 981'A	N/A	31331FAX9	738,110	874,660.74	0.07%
BEAR STEARNS COMMERCIAL MORTGAGE SECURITIES TRUST	N/A	073945AB3	856,766	862,854.73	0.06%
TIME WARNER CABLE INC 8.25% BDS 14/FEB/2014	N/A	88732JAQ1	750,000	844,104.75	0.06%
FHLMC MORTPASS ARM 01/OCT/2037 1B PN# 1B3601	N/A	3128JN3K9	791,020	835,645.92	0.06%
SABMILLER 5.7% NTS 15/JAN/2014 USD2000 '144A'	N/A	78572MAE5	750,000	808,437.00	0.06%
MORGAN STANLEY CAP 1 2005-HQ5 A4	N/A	61745M3F8	725,000	783,748.93	0.06%
JP MORGAN CHASE COMMERCIAL MORTGAGE SECURITIES	N/A	46625YP72	734,438	776,675.33	0.06%
PRINCIPAL LIFE INCOME FUNDING TRUST 5.3% MTN	N/A	74254PVP4	750,000	771,302.25	0.06%
LB-UBS COML MTG TR 5.845% CMO 15/JUL/2040 USD	N/A	52109PAB1	718,745	737,010.86	0.05%
GSAA TRUST 2004-NC1 2004-NC AF-6 VARIABLE	N/A	36228FC38	661,198	663,936.47	0.05%
MORGAN STANLEY CAPITAL I SER 2005-IQ9 CL A3	N/A	61745M2C6	612,474	621,509.49	0.05%
COMCAST CABLE COMM HOLDINGS NT 8.375% 15/MAR/2013	N/A	00209TAA3	547,000	583,492.01	0.04%
GE CAP COMM MTG CRP 05-C1 A3 4.578% 10/JUN/2048	N/A	36828QKP0	501,391	509,611.72	0.04%
BEAR STEARNS COMMERCIAL MORTGAGE SECURITIES TRUST	N/A	07387BFR9	390,853	406,712.01	0.03%
SUNOCO LOGISTICS PARTNERS GTD SRNT 8.75%	N/A	86765BAF6	365,000	401,406.56	0.03%
LB-UBS COMMERCIAL MORTGAGE TRUST 2004-C4 A-3	N/A	52108HE34	380,936	388,939.42	0.03%
ACCESS GROUP INC CLS'A2'FLTG RATE BDS 25/SEP/2025	N/A	00432CAL5	223,210	222,527.81	0.02%
MORGAN STANLEY CAPITAL I SER 2005-T19 CL A3	N/A	61745M5E9	169,423	169,358.80	0.01%
MORGAN STANLEY ABS CAPITAL I INC TRUST 2008-TOP29	N/A	61757LAC4	137,000	146,900.17	0.01%
MORGAN STANLEY CAPITAL I 2005-T19 CLAAB 4.852	N/A	61745M5F6	110,852	114,382.07	0.01%

Holding	Ticker	Security No	Shares	Market Value	Percent
FEDERAL HOME LN MTG CORP PTN CTFS 1% MTG BDS	N/A	3134G2UA8	51,000,000	51,623,220.00	4.51%
FEDERAL HOME LOAN MORTGAGE CORP 0.75% NTS	N/A	3134G1P65	48,000,000	48,191,376.00	4.21%
FREDDIE MAC 3827 UA 3.500% 15/MAR/2026	N/A	3137A7YU8	16,561,935	17,005,912.24	1.49%
BANC OF AMERICA MORTGAGE TRUST 01/JUN/2004-A-3	N/A	05949AJP6	15,300,128	15,964,368.21	1.40%
FEDERAL HOME LOAN BANK 1.75% 08/MAR/2013	N/A	3133XWX87	15,000,000	15,197,940.00	1.33%
US CENTRAL FEDERAL CRED 1.90% 19/OCT/2012	N/A	90345AAC6	15,000,000	15,138,705.00	1.32%
FEDERAL HOME LOAN MORTGAGE CORP 0.5% NTS	N/A	3134G23H3	15,000,000	15,000,870.00	1.31%
VOLKSWAGEN INTERNATIONAL FINANCE NV FR BDS	N/A	928670AH1	15,000,000	14,994,375.00	1.31%
INTERNATIONAL NEDERLAND BANK NV 144A 5.125% DUE	N/A	449786AA0	14,495,000	14,695,436.86	1.28%
FREDDIE MAC 3614 QA 4.000% 15/MAY/2024	N/A	31398LK98	13,043,870	13,737,118.17	1.20%
L-3 COMMUNICATIONS CORP 3.95% BDS 15/NOV/2016	N/A	502413BB2	13,000,000	13,687,531.00	1.20%
HEWLETT PACKARD CO GLBL NT 2.35% 15/MAR/2015	N/A	428236BN2	13,000,000	13,247,117.00	1.16%
LORILLARD TOBACCO CO 3.5% BDS 04/AUG/2016 USD1000	N/A	544152AD3	12,700,000	13,222,452.60	1.16%
FANNIE MAE 2010-135 FP VARIABLE 25/DEC/2040	N/A	31398SG98	12,783,910	12,750,044.63	1.11%
NOBLE HLDGS INTL 3.45% BDS 01/AUG/2015 USD1000	N/A	65504LAB3	11,000,000	11,580,855.00	1.01%
CBS CORP NEW GTD SR NT 8.2% 15/MAY/2014	N/A	124857AB9	10,000,000	11,407,200.00	1.00%
BANC AMERICA COML MTG INC 5.182% CMO 10/SEP/2047	N/A	05947U4D7	10,015,000	11,183,480.10	0.98%
CYTEC INDUSTRIES INC. 6.00% 01/OCT/2015	N/A	232820AG5	10,000,000	11,037,750.00	0.96%
MERRILL LYNCH MTG TRUST 4.747% 12/JUN/2043	N/A	59022HHJ4	10,026,000	10,928,620.73	0.96%
CAREFUSION CORP 5.125% BDS 01/AUG/2014 USD1000	N/A	14170TAF8	10,000,000	10,818,330.00	0.95%
DISCOVERY COMMUNICATIONS INC 3.7% BDS 01/JUN/2015	N/A	25470DAB5	10,000,000	10,706,110.00	0.94%
BANK OF AMERICA CORP 6% MTN 15/JUN/2016 USD1000	N/A	06050TJP8	10,000,000	10,704,410.00	0.94%
BP CAPITAL MARKETS 3.2% BDS 11/MAR/2016 USD1000	N/A	05565QBQ0	10,000,000	10,595,360.00	0.93%
BEAR STEARNS COMMERCIAL MORTGAGE SECURITIES SER	N/A	07383FU71	9,735,000	10,468,201.26	0.92%
EXPRESS SCRIPTS INC SR NT 3.125% 15/MAY/2016	N/A	302182AF7	10,000,000	10,413,050.00	0.91%
AMERITECH CAP FUNDING CORP DEB 9.10% 01/JUN/2016	N/A	030955AB4	8,723,200	10,227,952.00	0.89%
BERKSHIRE HATHAWAY INC FRN 15/AUG/2014 USD2000	N/A	084670BA5	10,000,000	10,133,560.00	0.89%
CONTINENTAL AIRLINES INC VAR 02/JUN/2015	N/A	210795PR5	10,530,099	10,108,894.74	0.88%
CATERPILLAR FINANCIAL SERVICES CORP 1.125% MTN	N/A	14912L4Y4	10,000,000	10,081,710.00	0.88%
KINROSS GOLD CORP 3.625% BDS 01/SEP/2016 USD1000	N/A	496902AE7	10,000,000	10,061,810.00	0.88%
DAIMLER FINANCE NA LLC FRN 13/SEP/2013 USD150000	N/A	233851AE4	10,000,000	10,040,260.00	0.88%
DTE ENERGY CO NT VAR 13 03/JUN/2013	N/A	233331AP2	10,000,000	10,037,500.00	0.88%
SVENSKA HANDELSBANKEN AB FR 2.875%04/APR/2017	N/A	86960BAB8	10,000,000	9,996,760.00	0.87%
GS MORTGAGE SECURITIES CORPORATION II VAR RATE DUE	N/A	36228CTH6	9,217,000	9,944,083.05	0.87%
TECK COMINCO 5.375 01/OCT/2015	N/A	878742AF2	8,820,000	9,738,691.20	0.85%
NATIONAL CITY BANK(CLEVELAND) FRN 15/DEC/2016	N/A	63534PAF4	10,432,000	9,716,104.00	0.85%
ANGLO AMERICAN CAPITAL 9.375% SNR NTS 08/APR/2014	N/A	034863AA8	8,300,000	9,552,760.50	0.84%
BARRICK INTL BK CORP NT-A 5.75% 15/OCT/2016	N/A	06849AAA7	8,000,000	9,165,408.00	0.80%
SANTANDER HLDGS USA INC 4.625% BDS 19/APR/2016	N/A	80282KAA4	9,000,000	9,119,961.00	0.80%
FREDDIE MAC 3609 JA 4.000% 15/JUN/2023	N/A	31398LN61	8,773,653	9,113,197.30	0.80%
CELGENE CORP 2.45% BDS 15/OCT/2015 USD1000	N/A	151020AD6	8,850,000	9,044,062.80	0.79%
THERMO ELECTRON CORP 5% NTS 01/JUN/2015 USD1000	N/A	883556AP7	8,000,000	8,885,024.00	0.78%
REYNOLDS AMERICAN INC 7.25% SNR NTS 01/JUN/2013	N/A	761713AD8	8,000,000	8,523,352.00	0.75%
ILLINOIS (STATE OF) 4.511% BDS 01/MAR/2015 USD1000	N/A	452152HQ7	8,000,000	8,413,920.00	0.74%
HARLEY DAVIDSON FINANCIAL SERVICES 3.875% NTS	N/A	41283LAA3	8,000,000	8,342,912.00	0.73%
MORGAN STANLEY 4.75% SUB NTS 01/APR/2014 USD1000	N/A	61748AAE6	8,000,000	8,130,912.00	0.71%
QUEST DIAGNOSTICS FRN GTD SNR 24/MAR/2014 USD	N/A	74834LAT7	8,000,000	8,065,928.00	0.71%
SEMPRA ENERGY CORP VAR BDS 15/MAR/2014 USD100	N/A	816851AR0	8,000,000	8,001,856.00	0.70%
COX COMMUNICATIONS INC 7.25% BDS 15/NOV/2015	N/A	224044AK3	6,770,000	7,895,004.75	0.69%
WEATHERFORD INTERNATIONAL 5.5% BDS 15/FEB/2016	N/A	947076AB1	7,000,000	7,749,049.00	0.68%
UNION BANK CALIFORNIA N A 5.95% MTN 11/MAY/2016	N/A	90520GAA4	7,000,000	7,643,713.00	0.67%
JP MORGAN CHASE & C 5.25000 01/MAY/2015	N/A	46625HAX8	7,000,000	7,597,380.00	0.66%
MORGAN STANLEY CAPITAL I 61745MQ89 VAR 15/JUN/2040	N/A	61745MQ89	7,015,000	7,500,388.90	0.66%
TOYOTA MOTOR CREDIT CORP 3.2% BDS 17/JUN/2015	N/A	89233P4B9	7,035,000	7,474,335.75	0.65%
XEROX CORP VAR BDS 16/MAY/2014 USD10000	N/A	984121CC5	7,500,000	7,442,040.00	0.65%
TRANS-ALLEGHENY INTERSTATE 4.00% BDS 15/JAN/2015	N/A	893045AC8	7,000,000	7,389,116.00	0.65%
STANDARD CHARTERED 3.85% NTS 27/APR/2015	N/A	853254AF7	7,000,000	7,269,360.00	0.64%
SAFEWAY INC 6.25% 15/MAR/2014	N/A	786514BQ1	6,525,000	7,180,175.25	0.63%
PRUDENTIAL FINANCIAL INC 2.75% 14/JAN/2013	N/A	74432QBK0	7,000,000	7,099,988.00	0.62%
PSEG POWER LLC 2.75% BDS 15/SEP/2016 USD1000	N/A	69362BAX0	7,000,000	7,066,689.00	0.62%
ERAC USA FINANCE LLC 2.25% BDS 10/JAN/2014 USD1000	N/A	26884TAC6	7,000,000	7,044,947.00	0.62%
ENERGY TRANSFER PARTNERS L.P. 5.95% NTS	N/A	29273RAB5	6,345,000	6,964,468.70	0.61%
HOSPIRA INC 6.05% BDS 30/MAR/2017 USD1000	N/A	441060AJ9	6,250,000	6,958,012.50	0.61%
GENENTECH INC 4.75% NTS 15/JUL/2015 USD1000	N/A	368710AG4	5,930,000	6,620,139.33	0.58%
TRANSOCEAN INC(NEW) 5.05% BDS 15/DEC/2016 USD1000	N/A	893830BA6	6,000,000	6,425,556.00	0.56%
JP MORGAN CHASE COMMERCIAL MORTGAGE P-T SECURITIES	N/A	46625YQB2	6,315,833	6,419,027.39	0.56%
CITIGROUP INC 6.00% 13/DEC/2013	N/A	172967FE6	6,000,000	6,356,982.00	0.56%
ENERGY TRANSFER PARTNERS L.P. 6% BDS 01/JUL/2013	N/A	29273RAG4	6,000,000	6,301,164.00	0.55%
XEROX CORP 6.4% SNR NTS 15/MAR/2016 USD1000	N/A	984121BP7	5,500,000	6,269,829.50	0.55%
METROPOLITAN LIFE GLOBAL FDG I SR NT 144A	N/A	59217GAM1	6,000,000	6,063,600.00	0.53%
ENBRIDGE ENERGY PARTNERS L P NT 5.875% 15/DEC/2016	N/A	29250RAH9	5,250,000	6,050,084.25	0.53%
HSBC USA INC 2.375% BDS 13/FEB/2015 USD1000	N/A	40428HPG1	6,000,000	6,041,142.00	0.53%
TOYOTA MTR CRD CORP MTN BE FR 1%17/FEB/2015	N/A	89233P5Z5	6,000,000	5,998,968.00	0.52%
NEW VALLEY GENERATION II 01-1 CERTS 5.572%	N/A	649085AA5	5,008,524	5,789,853.61	0.51%
DTE ENERGY COOMPANY 7.625% 15/MAY/2014	N/A	233331AN7	5,000,000	5,626,035.00	0.49%
TIME WARNER INC 3.15% BDS 15/JUL/2015 USD1000	N/A	887317AJ4	5,250,000	5,559,828.75	0.49%
TYCO ELECTRONICS GROUP S A 5.95% BDS 15/JAN/2014	N/A	902133AH0	5,065,000	5,415,097.87	0.47%
IUNITED DOMINION RLTY TR	N/A	91019PCP5	5,000,000	5,366,090.00	0.47%
ENTERPRISE PRODUCTS OPER 3.70% 01/JUN/2015	N/A	29379VAR4	5,000,000	5,345,040.00	0.47%
MORGAN STANLEY CAPITAL I INC 2011-C1 A-2 3.884%	N/A	617458AC8	5,000,000	5,333,060.00	0.47%
COMMONWEALTH REIT 6.25% BDS 15/JUN/2017 USD1000	N/A	40426WAU5	5,000,000	5,324,360.00	0.47%
GENERAL ELECTRIC CAPITAL CORP 3.35% BDS	N/A	36962G5H3	5,000,000	5,304,245.00	0.46%
DIRECTV HLDGS/FINANCE 3.55% SR NT 15/MAR/2015	N/A	25459HAN5	5,000,000	5,280,155.00	0.46%
HRPT PROPERTIES TRUST 6.4% NTS 15/FEB/2015 USD1000	N/A	40426WAP6	5,000,000	5,279,670.00	0.46%
KINDER MORGAN ENERGY PARTNERS SR NT 3.5%	N/A	494550BG0	5,000,000	5,266,665.00	0.46%
FEDERAL HOME LOAN BANKS CONS BD 3.125% 13/DEC/2013	N/A	3133XSP93	5,000,000	5,232,935.00	0.46%
BANK AMER N A CHARLOTTE N C 5.3% NTS 15/MAR/2017	N/A	06050TKN1	5,000,000	5,217,850.00	0.46%
DBUBS COMMERCIAL MORTGAGE PT TRUST 2011-LC1 A-1	N/A	233050AN3	4,886,529	5,194,937.19	0.45%
FEDERAL HOME LN BKS CONS BD 2.375% 14/MAR/2014	N/A	3133XWKV0	5,000,000	5,191,250.00	0.45%
BG ENERGY CAPITAL 2.875% GTD NTS 15/OCT/2016	N/A	05541VAD8	5,000,000	5,172,750.00	0.45%
PRUDENTIAL FINANCIAL INC 5.15% BDS 15/JAN/2013	N/A	74432QBE4	5,000,000	5,169,870.00	0.45%
XSTRATA FINANCE CANADA 3.6% BDS 15/JAN/2017	N/A	98417EAG5	5,000,000	5,161,100.00	0.45%
XSTRATA FINANCE CANADA 2.85% BDS 10/NOV/2014	N/A	98417EAD2	5,000,000	5,090,780.00	0.44%
SABMILLER HLDGS INC 1.85% GTD NTS 15/JAN/2015	N/A	78573AAD2	5,000,000	5,067,140.00	0.44%
FEDERAL AGRICULTURAL MORTGAGE CORP 1.25% NTS	N/A	31315PLT4	5,000,000	5,056,610.00	0.44%
ARCELORMITTAL SA 3.75% BDS 01/MAR/2016 USD1000	N/A	03938LAT1	5,030,000	5,025,880.43	0.44%
AMERICAN HONDA FINANCE CORP 1.45% BDS 27/FEB/2015	N/A	02666QK69	5,000,000	5,023,230.00	0.44%
USAA CAPITAL CORP 2.25% BDS 13/DEC/2016 USD1000	N/A	90327QCW7	5,000,000	5,006,265.00	0.44%
METLIFE INSTITUTIONAL FUNDING II 1.625% BDS	N/A	59157BAH5	5,000,000	4,995,490.00	0.44%
USAA CAPITAL CORP 1.05% BDS 30/SEP/2014 USD1000	N/A	90327QCV9	5,000,000	4,953,095.00	0.43%
GENERAL ELECTRIC CAPITAL CORP FR MTN 08/JAN/2016	N/A	36962GU51	5,000,000	4,787,730.00	0.42%
WACHOVIA CORPORATION 28/OCT/2015	N/A	929903AR3	5,000,000	4,762,275.00	0.42%
JP MORGAN CHASE BK NEW YORK NY FRN 13/JUN/2016	N/A	48121CJM9	5,000,000	4,645,615.00	0.41%
SAFEWAY INC 6.35% BDS 15/AUG/2017 USD1000	N/A	786514BP3	3,924,000	4,566,005.64	0.40%
SUNTRUST BANK ATLANTA GA FLTG RATE SUB NTS	N/A	86787GAH5	5,000,000	4,563,450.00	0.40%
TRAVELERS COMPANIES INC 5.5% NTS 01/DEC/2015	N/A	792860AH1	4,010,000	4,547,243.76	0.40%
RESIDENTIAL ACCREDIT LOANS INC 5% CMO 25/NOV/2018	N/A	76110HMB2	4,376,086	4,508,908.93	0.39%
GEN ELEC CAP CORP FR MTN 15/SEP/2014 USD1000	N/A	36962GK94	4,500,000	4,440,006.00	0.39%
TRANSOCEAN INC(NEW) 6% SNR NTS 15/MAR/2018 USD1000	N/A	893830AS8	4,000,000	4,428,072.00	0.39%
BEAR STEARNS COMMERCIAL MORTGAGE SECURITIES	N/A	07383FXJ2	4,225,000	4,410,739.45	0.39%
BEAR STEARNS COMM MTG SEC 2005-T18 A4 4.933%	N/A	07383F5K0	4,000,000	4,347,572.00	0.38%
AMERICAN HONDA FINANCE 2.50% 21/SEP/2015	N/A	02666QG64	4,200,000	4,343,257.80	0.38%
TEVA PHARMACEUTICAL FINANCE IV FRN 21/MAR/2014	N/A	88166DAB2	4,300,000	4,311,094.00	0.38%
WEATHERFORD INTERNATIONAL LTD 5.15% BDS	N/A	947075AC1	4,000,000	4,126,932.00	0.36%
STANDARD CHARTERED 3.2% NTS 12/MAY/2016 USD100000	N/A	853254AG5	4,000,000	4,077,196.00	0.36%
XSTRATA CANADA CORP 6% 15/OCT/2015	N/A	655422AT0	3,650,000	4,026,300.40	0.35%
FHLMC MORTPASS ARM 01/JUN/2037 1Q PN# 1Q0648	N/A	3128S4WH6	3,456,028	3,696,196.05	0.32%
HARLEY-DAVIDSON FDG 5.75% BDS 15/DEC/2014	N/A	41283DAC7	3,385,000	3,690,638.42	0.32%
VERIZON NEW ENGLAND INC 92344RAB8 4.75%	N/A	92344RAB8	3,495,000	3,676,387.01	0.32%
REYNOLDS AMERICAN INC 7.625% SNR NTS 01/JUN/2016	N/A	761713AE6	3,000,000	3,600,615.00	0.31%
FEDERAL EXPRESS CORP PASS THRU TR 1993 PASS THRU	N/A	31331FAB7	3,200,378	3,584,423.11	0.31%
FMR CORP 4.75% 144A 01MAR01/MAR/2013	N/A	302508BA3	3,375,000	3,488,781.38	0.30%
FEDERAL EXPRESS CORP PASS THR 1993 PASS THRU CTF	N/A	31331FAD3	3,224,163	3,476,696.01	0.30%
CITIGROUP INC 4.45% BDS 10/JAN/2017 USD100	N/A	172967FW6	3,300,000	3,456,769.80	0.30%
ARCELORMITTAL SA 9% LN STK 15/FEB/2015 USD1000	N/A	03938LAL8	3,000,000	3,449,592.00	0.30%
FREDDIE MAC 3728 EA 3.500% 15/SEP/2020	N/A	3137A1WC3	3,334,576	3,433,013.38	0.30%
BORG-WARNER AUTOMATIVE INC 5.75% BDS 01/NOV/2016	N/A	099724AE6	3,000,000	3,363,510.00	0.29%
MORGAN STANLEY CAPITAL I TR 5.712% CMO 12/JUL/2044	N/A	61750CAD9	3,270,000	3,321,025.08	0.29%
FNMA MORTPASS ARM 01/JUL/2034 LB PN# 747271	N/A	31403FFL3	3,072,608	3,287,163.86	0.29%
MORGAN STANLEY DEAN WITTER CAP I TR 2003 TOP9 MTG	N/A	61746WZA1	3,230,172	3,286,153.77	0.29%
GINNIE MAE 2009-22 AG 4.000% 16/OCT/2032	N/A	38374TRB2	3,076,696	3,199,725.59	0.28%
CITIGROUP INC 6.5% SR NT 19/AUG/2013 USD1000	N/A	172967EU1	3,000,000	3,173,763.00	0.28%
DAIMLER FINANCE NA LLC 2.95% BDS 11/JAN/2017	N/A	233851AK0	3,000,000	3,109,287.00	0.27%
ARISTOTLE HOLDING INC 2.75% BDS 21/NOV/2014	N/A	04044TAA4	3,000,000	3,082,389.00	0.27%
FREDDIE MAC 3640 EL 4.000% 15/MAR/2020	N/A	31398VGZ3	2,921,887	3,078,891.39	0.27%
CREDIT ACCEPTANCE AUTO LOAN TRUST 2012-1A A 2.2%	N/A	22532VAA0	3,000,000	3,049,687.50	0.27%
COBANK ACB FRN 15/JUN/2022 USD1000 '144A'	N/A	19075QAA0	4,000,000	3,044,180.00	0.27%
ERAC USA FINANCE LLC 2.75% BDS 15/MAR/2017 USD1000	N/A	26884TAF9	3,000,000	2,996,943.00	0.26%
TYCO INTERNATIONAL 6% NTS 15/NOV/2013 USD1000	N/A	902118BK3	2,750,000	2,965,481.75	0.26%
FREDDIE MAC 3616 PA 4.500% 15/NOV/2039	N/A	31398LHE1	2,746,673	2,920,837.59	0.26%
SVENSKA HANDELSBANKEN 2.875% SNR NTS 14/SEP/2012	N/A	86959LAB9	2,750,000	2,776,974.75	0.24%
GINNIE MAE 2010-29 BA 4.500% 20/APR/2036	N/A	38376XPH0	2,609,462	2,760,678.98	0.24%
ROWAN COS INC 5.0% BDS 01/SEP/2017 USD1000	N/A	779382AN0	2,505,000	2,666,752.86	0.23%
TCI COMMUNICATIONS INC 8.75% SNR DEBS 01/AUG/2015	N/A	872287AC1	2,000,000	2,462,934.00	0.22%
METLIFE INC 6.75% BDS 01/JUN/2016 USD1000	N/A	59156RAU2	2,000,000	2,376,126.00	0.21%
SUNOCO LOGISTICS PARTNERS SR NT 6.125% 15/MAY/2016	N/A	86765BAE9	2,000,000	2,230,108.00	0.19%
NEXEN INC 5.65% BDS 15/MAY/2017 USD1000	N/A	65334HAF9	2,000,000	2,229,188.00	0.19%
METLIFE INC 5% 15/JUN/2015	N/A	59156RAN8	2,000,000	2,211,998.00	0.19%
FNMA MORTPASS ARM 01/SEP/2037 LB PN# 949691	N/A	31413MRL3	1,917,120	2,078,515.46	0.18%
ARISTOTLE HOLDING INC 2.1% BDS 12/FEB/2015 USD1000	N/A	04044TAG1	2,000,000	2,024,648.00	0.18%
BEAR STEARNS COML MTG SECS TRUST FR CMO	N/A	07387JAE6	1,730,000	1,963,781.82	0.17%
COVIDIEN INTERNATIONAL FINANCE 5.45% BDS	N/A	22303QAF7	1,800,000	1,845,279.00	0.16%
JPMORGAN CHASE & CO 5.875533% MTG BDS 15/APR/2045	N/A	46628FAH4	1,724,279	1,841,365.74	0.16%
ENERGY TRANSFER PARTNERS L.P. 8.5% BDS 15/APR/2014	N/A	29273RAL3	1,604,000	1,812,566.52	0.16%
FNMA MORTPASS ARM 01/SEP/2036 S1 PN# 893776	N/A	31410P6M0	1,545,998	1,681,224.34	0.15%
FEDERAL EXPRESS CORP PASS THRU TR 1993 PASS THRU	N/A	31331FAF8	1,448,255	1,651,011.19	0.14%
FNMA MORTPASS ARM 01/AUG/2036 S1 PN# 886345	N/A	31410DWE6	1,472,813	1,602,974.67	0.14%
HRPT PROPERTIES TR 6.25% BDS 15/AUG/2016 USD1000	N/A	40426WAR2	1,500,000	1,587,996.00	0.14%
ERAC USA FINANCE COMPANY 5.60% 01/MAY/2015	N/A	26882PAS1	1,225,000	1,346,011.63	0.12%
VIACOM INC 4.25% NTS 15/SEP/2015 USD1000	N/A	92553PAF9	1,140,000	1,232,701.38	0.11%
FREDDIE MAC 3563 BA 4.000% 15/JUN/2022	N/A	31398JG56	1,184,198	1,212,293.57	0.11%
LB-USB COMMERCIAL MORTGAGE TRUST SERIES 2005-C3 CL	N/A	52108H4S0	1,106,967	1,107,976.36	0.10%
CELLCO PART/VERI WIRELSS 7.375% SNR NTS	N/A	92344SAJ9	1,000,000	1,102,166.00	0.10%
AMERICAN HONDA FINANCE CORP 6.7% MTN 01/OCT/2013	N/A	02666QD67	1,000,000	1,079,237.00	0.09%
MORGAN STANLEY CAP I INC 2004-TOP13 COML MTG	N/A	61745MVB6	1,000,000	1,050,048.00	0.09%
WEATHERFORD INTL INC 4.95% 15/OCT/2013	N/A	947075AA5	1,000,000	1,049,523.00	0.09%
JP MORGAN CHASE COMMERCIAL MORTGAGE SECURITIES	N/A	46636DAC0	1,000,000	1,046,479.00	0.09%
REYNOLDS AMERICAN INC 7.3% SNR NTS 15/JUL/2015	N/A	761713AR7	814,000	909,019.03	0.08%
BEAR STEARNS COS.INC 6.95% MTN 10/AUG/2007 USD1000	N/A	073928X73	867,000	886,575.13	0.08%
BEAR STEARNS COMMERCIAL MORTGAGE SECURITIES TRUST	N/A	073945AB3	869,652	878,887.90	0.08%
FEDEX CORP 6.72% BDS 15/JAN/2022 USD1000 SER 981'A	N/A	31331FAX9	738,110	874,660.74	0.08%
TIME WARNER CABLE INC 8.25% BDS 14/FEB/2014	N/A	88732JAQ1	750,000	849,130.50	0.07%
FHLMC MORTPASS ARM 01/OCT/2037 1B PN# 1B3601	N/A	3128JN3K9	792,740	845,340.18	0.07%
SABMILLER 5.7% NTS 15/JAN/2014 USD2000 '144A'	N/A	78572MAE5	750,000	810,263.25	0.07%
JP MORGAN CHASE COMMERCIAL MORTGAGE SECURITIES	N/A	46625YP72	751,605	797,739.76	0.07%
MORGAN STANLEY CAP 1 2005-HQ5 A4	N/A	61745M3F8	725,000	787,366.68	0.07%
PRINCIPAL LIFE INCOME FUNDING TRUST 5.3% MTN	N/A	74254PVP4	750,000	773,476.50	0.07%
FIDELITY INSTITUTIONAL MMKT PORTFOLIO INST CLASS -	N/A	89199B034	762,454	762,454.05	0.07%
LB-UBS COML MTG TR 5.845% CMO 15/JUL/2040 USD	N/A	52109PAB1	719,081	729,619.35	0.06%
GSAA TRUST 2004-NC1 2004-NC AF-6 VARIABLE	N/A	36228FC38	712,848	715,720.27	0.06%
MORGAN STANLEY CAPITAL I SER 2005-IQ9 CL A3	N/A	61745M2C6	624,813	635,583.76	0.06%
COMCAST CABLE COMM HOLDINGS NT 8.375% 15/MAR/2013	N/A	00209TAA3	547,000	586,518.56	0.05%
GE CAP COMM MTG CRP 05-C1 A3 4.578% 10/JUN/2048	N/A	36828QKP0	501,391	510,931.38	0.04%
BEAR STEARNS COMMERCIAL MORTGAGE SECURITIES TRUST	N/A	07387BFR9	400,103	417,860.79	0.04%
SUNOCO LOGISTICS PARTNERS GTD SRNT 8.75%	N/A	86765BAF6	365,000	402,550.11	0.04%
LB-UBS COMMERCIAL MORTGAGE TRUST 2004-C4 A-3	N/A	52108HE34	383,384	392,484.70	0.03%
ACCESS GROUP INC CLS'A2'FLTG RATE BDS 25/SEP/2025	N/A	00432CAL5	223,210	222,356.70	0.02%
MORGAN STANLEY CAPITAL I SER 2005-T19 CL A3	N/A	61745M5E9	170,146	170,088.54	0.01%
MORGAN STANLEY ABS CAPITAL I INC TRUST 2008-TOP29	N/A	61757LAC4	137,000	147,566.40	0.01%
MORGAN STANLEY CAPITAL I 2005-T19 CLAAB 4.852	N/A	61745M5F6	113,833	117,302.30	0.01%

Holding	Ticker	Security No	Shares	Market Value	Percent
FEDERAL HOME LN MTG CORP FR 1%20/AUG/2014	N/A	3134G2UA8	56,000,000	56,722,400.00	5.03%
FEDERAL HOME LOAN MORTGAGE CORP 0.75% NTS	N/A	3134G1P65	48,000,000	48,213,696.00	4.27%
POOLED FUNDING TRUST II 2.625% P/THRU CTF	N/A	73279AAA6	20,000,000	20,031,880.00	1.78%
FREDDIE MAC 3827 UA 3.500% 15/MAR/2026	N/A	3137A7YU8	18,372,201	18,767,760.00	1.66%
BANC OF AMERICA MORTGAGE TRUST 01/JUN/2004-A-3	N/A	05949AJP6	15,160,836	15,837,433.72	1.40%
FEDERAL HOME LOAN BANK 1.75% 08/MAR/2013	N/A	3133XWX87	15,000,000	15,215,940.00	1.35%
US CENTRAL FEDERAL CRED 1.90% 19/OCT/2012	N/A	90345AAC6	15,000,000	15,161,955.00	1.34%
FEDERAL HOME LOAN MORTGAGE CORP 0.5% NTS	N/A	3134G23H3	15,000,000	15,001,170.00	1.33%
FREDDIE MAC 3614 QA 4.000% 15/MAY/2024	N/A	31398LK98	13,612,082	14,274,263.71	1.27%
L-3 COMMUNICATIONS CORP 3.95% BDS 15/NOV/2016	N/A	502413BB2	13,000,000	13,667,641.00	1.21%
ENSCO PLC 3.25%SR NT15/MAR/2016 USD100	N/A	29358QAB5	13,000,000	13,566,761.00	1.20%
HEWLETT PACKARD CO 2.35% NTS 15/MAR/2015 USD1000	N/A	428236BN2	13,000,000	13,302,549.00	1.18%
LORILLARD TOBACCO CO 3.5% BDS 04/AUG/2016 USD1000	N/A	544152AD3	12,700,000	13,268,032.90	1.18%
FANNIE MAE 2010-135 FP VARIABLE 25/DEC/2040	N/A	31398SG98	13,047,188	13,029,172.51	1.15%
NOBLE HLDGS INTL 3.45% BDS 01/AUG/2015 USD1000	N/A	65504LAB3	11,000,000	11,503,932.00	1.02%
CBS CORP NEW GTD SR NT 8.2% 15/MAY/2014	N/A	124857AB9	10,000,000	11,419,350.00	1.01%
BANC AMERICA COML MTG INC 5.182% CMO 10/SEP/2047	N/A	05947U4D7	10,015,000	11,223,089.42	0.99%
HSBC USA INC 2.375% BDS 13/FEB/2015 USD1000	N/A	40428HPG1	11,000,000	11,154,913.00	0.99%
MERRILL LYNCH MTG TRUST 4.747% 12/JUN/2043	N/A	59022HHJ4	10,026,000	10,962,157.70	0.97%
CYTEC INDUSTRIES INC. 6.00% 01/OCT/2015	N/A	232820AG5	10,000,000	10,862,800.00	0.96%
CAREFUSION CORP 5.125% BDS 01/AUG/2014 USD1000	N/A	14170TAF8	10,000,000	10,791,220.00	0.96%
DISCOVERY COMMUNICATIONS INC 3.7% BDS 01/JUN/2015	N/A	25470DAB5	10,000,000	10,719,090.00	0.95%
BP CAPITAL MARKETS 3.2% BDS 11/MAR/2016 USD1000	N/A	05565QBQ0	10,000,000	10,686,490.00	0.95%
BEAR STEARNS COMMERCIAL MORTGAGE SECURITIES SER	N/A	07383FU71	9,735,000	10,508,494.43	0.93%
AMERITECH CAP FUNDING CORP DEB 9.10% 01/JUN/2016	N/A	030955AB4	8,723,200	10,338,265.59	0.92%
EXPRESS SCRIPTS IN 3.125% NTS 15/MAY/2016 USD1000	N/A	302182AF7	10,000,000	10,338,010.00	0.92%
BERKSHIRE HATHAWAY INC FRN 15/AUG/2014 USD2000	N/A	084670BA5	10,000,000	10,125,390.00	0.90%
CATERPILLAR FINANCIAL SERVICES CORP 1.125% MTN	N/A	14912L4Y4	10,000,000	10,094,320.00	0.89%
DTE ENERGY CO NT VAR 13 03/JUN/2013	N/A	233331AP2	10,000,000	10,031,990.00	0.89%
KINROSS GOLD CORP 3.625% BDS 01/SEP/2016 USD1000	N/A	496902AE7	10,000,000	10,012,300.00	0.89%
DAIMLER FINANCE NA LLC FRN 13/SEP/2013 USD150000	N/A	233851AE4	10,000,000	9,992,130.00	0.89%
GS MORTGAGE SECURITIES CORPORATION II VAR RATE DUE	N/A	36228CTH6	9,217,000	9,954,848.50	0.88%
TECK COMINCO 5.375 01/OCT/2015	N/A	878742AF2	8,820,000	9,837,969.12	0.87%
FREDDIE MAC 3609 JA 4.000% 15/JUN/2023	N/A	31398LN61	9,358,917	9,693,803.91	0.86%
ANGLO AMERICAN CAPITAL 9.375% SNR NTS 08/APR/2014	N/A	034863AA8	8,300,000	9,547,373.80	0.85%
NATIONAL CITY BANK(CLEVELAND) FRN 15/DEC/2016	N/A	63534PAF4	10,432,000	9,542,139.97	0.85%
BARRICK INTL BK CORP NT-A 5.75% 15/OCT/2016	N/A	06849AAA7	8,000,000	9,108,664.00	0.81%
CELGENE CORP 2.45% BDS 15/OCT/2015 USD1000	N/A	151020AD6	8,850,000	9,090,852.75	0.81%
CONTINENTAL AIRLINES INC VAR 02/JUN/2015	N/A	210795PR5	9,486,575	9,059,679.51	0.80%
THERMO ELECTRON CORP 5% NTS 01/JUN/2015 USD1000	N/A	883556AP7	8,000,000	8,930,264.00	0.79%
SANTANDER HLDGS USA INC 4.625% BDS 19/APR/2016	N/A	80282KAA4	9,000,000	8,916,426.00	0.79%
REYNOLDS AMERICAN INC 7.25% SNR NTS 01/JUN/2013	N/A	761713AD8	8,000,000	8,505,856.00	0.75%
ILLINOIS (STATE OF) 4.511% BDS 01/MAR/2015 USD1000	N/A	452152HQ7	8,000,000	8,444,000.00	0.75%
HARLEY DAVIDSON FINANCIAL SERVICES 3.875% NTS	N/A	41283LAA3	8,000,000	8,333,120.00	0.74%
MORGAN STANLEY 4.75% SUB NTS 01/APR/2014 USD1000	N/A	61748AAE6	8,000,000	8,093,976.00	0.72%
QUEST DIAGNOSTICS FRN 24/MAR/2014 USD2000	N/A	74834LAT7	8,000,000	8,041,416.00	0.71%
SEMPRA ENERGY CORP VAR BDS 15/MAR/2014 USD100	N/A	816851AR0	8,000,000	7,989,736.00	0.71%
COX COMMUNICATIONS INC 7.25% BDS 15/NOV/2015	N/A	224044AK3	6,770,000	7,941,433.41	0.70%
WEATHERFORD INTERNATIONAL 5.5% BDS 15/FEB/2016	N/A	947076AB1	7,000,000	7,768,740.00	0.69%
JP MORGAN CHASE & C 5.25000 01/MAY/2015	N/A	46625HAX8	7,000,000	7,571,522.00	0.67%
UNION BANK CALIFORNIA N A 5.95% MTN 11/MAY/2016	N/A	90520GAA4	7,000,000	7,555,527.00	0.67%
MORGAN STANLEY CAPITAL I 61745MQ89 VAR 15/JUN/2040	N/A	61745MQ89	7,015,000	7,552,917.22	0.67%
TOYOTA MOTOR CREDIT CORP 3.2% BDS 17/JUN/2015	N/A	89233P4B9	7,035,000	7,484,226.96	0.66%
TRANS-ALLEGHENY INTERSTATE 4.00% BDS 15/JAN/2015	N/A	893045AC8	7,000,000	7,417,396.00	0.66%
XEROX CORP VAR BDS 16/MAY/2014 USD10000	N/A	984121CC5	7,500,000	7,393,560.00	0.66%
STANDARD CHARTERED 3.85% NTS 27/APR/2015	N/A	853254AF7	7,000,000	7,258,083.00	0.64%
SAFEWAY INC 6.25% 15/MAR/2014	N/A	786514BQ1	6,525,000	7,201,179.23	0.64%
JP MORGAN CHASE COMMERCIAL MORTGAGE P-T SECURITIES	N/A	46625YQB2	7,058,517	7,184,991.95	0.64%
PSEG POWER LLC 2.75% BDS 15/SEP/2016 USD1000	N/A	69362BAX0	7,000,000	7,112,028.00	0.63%
PRUDENTIAL FINANCIAL INC 2.75% 14/JAN/2013	N/A	74432QBK0	7,000,000	7,111,867.00	0.63%
ERAC USA FINANCE LLC 2.25% BDS 10/JAN/2014 USD1000	N/A	26884TAC6	7,000,000	7,008,610.00	0.62%
ENERGY TRANSFER PARTNERS L.P. 5.95% NTS	N/A	29273RAB5	6,345,000	6,950,896.74	0.62%
GENENTECH INC 4.75% NTS 15/JUL/2015 USD1000	N/A	368710AG4	5,930,000	6,604,750.98	0.59%
TRANSOCEAN INC(NEW) 5.05% BDS 15/DEC/2016 USD1000	N/A	893830BA6	6,000,000	6,564,342.00	0.58%
CITIGROUP INC 6.00% 13/DEC/2013	N/A	172967FE6	6,000,000	6,366,840.00	0.56%
INTERNATIONAL NEDERLAND BANK NV 144A 5.125% DUE	N/A	449786AA0	6,495,000	6,366,054.77	0.56%
ENERGY TRANSFER PARTNERS L.P. 6% BDS 01/JUL/2013	N/A	29273RAG4	6,000,000	6,327,546.00	0.56%
XEROX CORP 6.4% SNR NTS 15/MAR/2016 USD1000	N/A	984121BP7	5,500,000	6,241,312.00	0.55%
BANK OF AMER CORP 4.75 15/AUG/2013	N/A	060505BD5	6,000,000	6,171,870.00	0.55%
METROPOLITAN LIFE GLOBAL FDG I SR NT 144A	N/A	59217GAM1	6,000,000	6,063,078.00	0.54%
ENBRIDGE ENERGY PARTNERS L P NT 5.875% 15/DEC/2016	N/A	29250RAH9	5,250,000	6,031,583.25	0.53%
TOYOTA MTR CRD CORP MTN BE FR 1%17/FEB/2015	N/A	89233P5Z5	6,000,000	5,991,300.00	0.53%
NEW VALLEY GENERATION II 01-1 CERTS 5.572%	N/A	649085AA5	5,008,524	5,755,895.81	0.51%
DTE ENERGY COOMPANY 7.625% 15/MAY/2014	N/A	233331AN7	5,000,000	5,652,580.00	0.50%
HOSPIRA INC 6.05% BDS 30/MAR/2017 USD1000	N/A	441060AJ9	5,000,000	5,593,575.00	0.50%
TIME WARNER INC 3.15% BDS 15/JUL/2015 USD1000	N/A	887317AJ4	5,250,000	5,575,489.50	0.49%
TYCO ELECTRONICS GROUP S A 5.95% BDS 15/JAN/2014	N/A	902133AH0	5,065,000	5,433,296.41	0.48%
GENERAL ELECTRIC CAPITAL CORP 3.35% BDS	N/A	36962G5H3	5,000,000	5,333,775.00	0.47%
MORGAN STANLEY CAPITAL I INC 2011-C1 A-2 3.884%	N/A	617458AC8	5,000,000	5,329,540.00	0.47%
ENTERPRISE PRODUCTS OPER 3.70% 01/JUN/2015	N/A	29379VAR4	5,000,000	5,326,780.00	0.47%
DIRECTV HLDGS/FINANCE 3.55% SR NT 15/MAR/2015	N/A	25459HAN5	5,000,000	5,306,865.00	0.47%
KINDER MORGAN ENER 3.5% BDS 01/MAR/2016 USD1000	N/A	494550BG0	5,000,000	5,300,965.00	0.47%
IUNITED DOMINION RLTY TR	N/A	91019PCP5	5,000,000	5,290,430.00	0.47%
HRPT PROPERTIES TRUST 6.4% NTS 15/FEB/2015 USD1000	N/A	40426WAP6	5,000,000	5,281,250.00	0.47%
FEDERAL HOME LOAN BANKS CONS BD 3.125% 13/DEC/2013	N/A	3133XSP93	5,000,000	5,244,050.00	0.46%
FEDERAL HOME LN BKS CONS BD 2.375% 14/MAR/2014	N/A	3133XWKV0	5,000,000	5,198,240.00	0.46%
XSTRATA FINANCE CANADA 3.6% BDS 15/JAN/2017	N/A	98417EAG5	5,000,000	5,190,555.00	0.46%
DBUBS COMMERCIAL MORTGAGE PT TRUST 2011-LC1 A-1	N/A	233050AN3	4,896,986	5,187,397.19	0.46%
BG ENERGY CAPITAL 2.875% GTD NTS 15/OCT/2016	N/A	05541VAD8	5,000,000	5,186,140.00	0.46%
PRUDENTIAL FINANCIAL INC 5.15% BDS 15/JAN/2013	N/A	74432QBE4	5,000,000	5,184,795.00	0.46%
XSTRATA FINANCE CANADA 2.85% BDS 10/NOV/2014	N/A	98417EAD2	5,000,000	5,103,595.00	0.45%
SABMILLER HLDGS INC 1.85% GTD NTS 15/JAN/2015	N/A	78573AAD2	5,000,000	5,081,205.00	0.45%
FEDERAL AGRICULTURAL MORTGAGE CORP 1.25% NTS	N/A	31315PLT4	5,000,000	5,065,710.00	0.45%
ARCELORMITTAL SA 3.75% BDS 01/MAR/2016 USD1000	N/A	03938LAT1	5,030,000	5,045,713.72	0.45%
USAA CAPITAL CORP 2.25% BDS 13/DEC/2016 USD1000	N/A	90327QCW7	5,000,000	5,039,645.00	0.45%
AMERICAN HONDA FINANCE CORP 1.45% BDS 27/FEB/2015	N/A	02666QK69	5,000,000	5,014,540.00	0.44%
USAA CAPITAL CORP 1.05% BDS 30/SEP/2014 USD1000	N/A	90327QCV9	5,000,000	4,962,355.00	0.44%
GENERAL ELECTRIC CAPITAL CORP FR MTN 08/JAN/2016	N/A	36962GU51	5,000,000	4,795,275.00	0.43%
WACHOVIA CORPORATION 28/OCT/2015	N/A	929903AR3	5,000,000	4,689,625.00	0.42%
RESIDENTIAL ACCREDIT LOANS INC 5% CMO 25/NOV/2018	N/A	76110HMB2	4,499,365	4,638,269.18	0.41%
JP MORGAN CHASE BK NEW YORK NY FRN 13/JUN/2016	N/A	48121CJM9	5,000,000	4,598,870.00	0.41%
SUNTRUST BANK ATLANTA GA FLTG RATE SUB NTS	N/A	86787GAH5	5,000,000	4,589,055.00	0.41%
TRAVELERS COMPANIES INC 5.5% NTS 01/DEC/2015	N/A	792860AH1	4,010,000	4,564,314.33	0.40%
SAFEWAY INC 6.35% BDS 15/AUG/2017 USD1000	N/A	786514BP3	3,924,000	4,521,150.40	0.40%
TRANSOCEAN INC(NEW) 6% SNR NTS 15/MAR/2018 USD1000	N/A	893830AS8	4,000,000	4,491,804.00	0.40%
GEN ELEC CAP CORP FR MTN 15/SEP/2014 USD1000	N/A	36962GK94	4,500,000	4,428,342.00	0.39%
BEAR STEARNS COMMERCIAL MORTGAGE SECURITIES	N/A	07383FXJ2	4,225,000	4,423,562.33	0.39%
BEAR STEARNS COMM MTG SEC 2005-T18 A4 4.933%	N/A	07383F5K0	4,000,000	4,357,052.00	0.39%
AMERICAN HONDA FINANCE 2.50% 21/SEP/2015	N/A	02666QG64	4,200,000	4,341,489.60	0.38%
TEVA PHARMACEUTICAL FINANCE IV FRN 21/MAR/2014	N/A	88166DAB2	4,300,000	4,301,397.50	0.38%
WEATHERFORD INTERNATIONAL LTD 5.15% BDS	N/A	947075AC1	4,000,000	4,138,320.00	0.37%
STANDARD CHARTERED 3.2% NTS 12/MAY/2016 USD100000	N/A	853254AG5	4,000,000	4,054,464.00	0.36%
XSTRATA CANADA CORP 6% 15/OCT/2015	N/A	655422AT0	3,650,000	4,043,083.10	0.36%
FHLMC MORTPASS ARM 01/JUN/2037 1Q PN# 1Q0648	N/A	3128S4WH6	3,490,334	3,717,294.00	0.33%
VERIZON NEW ENGLAND INC 92344RAB8 4.75%	N/A	92344RAB8	3,495,000	3,676,348.56	0.33%
HARLEY-DAVIDSON FDG 5.75% BDS 15/DEC/2014	N/A	41283DAC7	3,385,000	3,673,459.55	0.33%
FREDDIE MAC 3728 EA 3.500% 15/SEP/2020	N/A	3137A1WC3	3,518,461	3,631,297.93	0.32%
REYNOLDS AMERICAN INC 7.625% SNR NTS 01/JUN/2016	N/A	761713AE6	3,000,000	3,617,928.00	0.32%
FEDERAL EXPRESS CORP PASS THRU TR 1993 PASS THRU	N/A	31331FAB7	3,200,378	3,584,423.11	0.32%
CITIGROUP INC 4.45% BDS 10/JAN/2017 USD100	N/A	172967FW6	3,300,000	3,482,975.10	0.31%
FEDERAL EXPRESS CORP PASS THR 1993 PASS THRU CTF	N/A	31331FAD3	3,224,163	3,482,418.58	0.31%
FMR CORP 4.75% 144A 01MAR01/MAR/2013	N/A	302508BA3	3,375,000	3,461,400.00	0.31%
ARCELORMITTAL SA 9% LN STK 15/FEB/2015 USD1000	N/A	03938LAL8	3,000,000	3,458,640.00	0.31%
BORG-WARNER AUTOMATIVE INC 5.75% BDS 01/NOV/2016	N/A	099724AE6	3,000,000	3,389,949.00	0.30%
MORGAN STANLEY CAPITAL I TR 5.712% CMO 12/JUL/2044	N/A	61750CAD9	3,270,000	3,360,291.24	0.30%
MORGAN STANLEY DEAN WITTER CAP I TR 2003 TOP9 MTG	N/A	61746WZA1	3,240,403	3,307,252.41	0.29%
GINNIE MAE 2009-22 AG 4.000% 16/OCT/2032	N/A	38374TRB2	3,188,113	3,289,794.15	0.29%
FNMA MORTPASS ARM 01/JUL/2034 LB PN# 747271	N/A	31403FFL3	3,082,352	3,288,506.50	0.29%
FREDDIE MAC 3640 EL 4.000% 15/MAR/2020	N/A	31398VGZ3	3,049,672	3,217,173.31	0.29%
CITIGROUP INC 6.5% SR NT 19/AUG/2013 USD1000	N/A	172967EU1	3,000,000	3,179,043.00	0.28%
COBANK ACB FRN 15/JUN/2022 USD1000 '144A'	N/A	19075QAA0	4,000,000	3,143,320.00	0.28%
DAIMLER FINANCE NA LLC 2.95% BDS 11/JAN/2017	N/A	233851AK0	3,000,000	3,099,420.00	0.27%
ARISTOTLE HOLDING INC 2.75% BDS 21/NOV/2014	N/A	04044TAA4	3,000,000	3,074,958.00	0.27%
FREDDIE MAC 3616 PA 4.500% 15/NOV/2039	N/A	31398LHE1	2,820,992	3,036,092.13	0.27%
TYCO INTERNATIONAL 6% NTS 15/NOV/2013 USD1000	N/A	902118BK3	2,750,000	2,980,353.75	0.26%
GINNIE MAE 2010-29 BA 4.500% 20/APR/2036	N/A	38376XPH0	2,702,097	2,848,580.84	0.25%
SVENSKA HANDELSBANKEN 2.875% SNR NTS 14/SEP/2012	N/A	86959LAB9	2,750,000	2,780,511.25	0.25%
ROWAN COS INC 5.0% BDS 01/SEP/2017 USD1000	N/A	779382AN0	2,505,000	2,687,925.12	0.24%
METLIFE INC 6.75% BDS 01/JUN/2016 USD1000	N/A	59156RAU2	2,000,000	2,393,630.00	0.21%
SUNOCO LOGISTICS PARTNERS SR NT 6.125% 15/MAY/2016	N/A	86765BAE9	2,000,000	2,246,602.00	0.20%
METLIFE INC 5% 15/JUN/2015	N/A	59156RAN8	2,000,000	2,214,902.00	0.20%
FNMA MORTPASS ARM 01/SEP/2037 LB PN# 949691	N/A	31413MRL3	1,919,431	2,080,714.35	0.18%
ARISTOTLE HOLDING INC 2.1% BDS 12/FEB/2015 USD1000	N/A	04044TAG1	2,000,000	2,015,926.00	0.18%
BEAR STEARNS COML MTG SECS TRUST FR CMO	N/A	07387JAE6	1,730,000	1,975,919.50	0.18%
JPMORGAN CHASE & CO 5.875533% MTG BDS 15/APR/2045	N/A	46628FAH4	1,767,669	1,893,288.91	0.17%
COVIDIEN INTERNATIONAL FINANCE 5.45% BDS	N/A	22303QAF7	1,800,000	1,854,403.20	0.16%
FIDELITY INSTITUTIONAL MMKT PORTFOLIO INST CLASS -	N/A	89199B034	1,826,107	1,826,106.81	0.16%
ENERGY TRANSFER PARTNERS L.P. 8.5% BDS 15/APR/2014	N/A	29273RAL3	1,604,000	1,823,757.62	0.16%
FNMA MORTPASS ARM 01/SEP/2036 S1 PN# 893776	N/A	31410P6M0	1,581,247	1,717,173.72	0.15%
FNMA MORTPASS ARM 01/AUG/2036 S1 PN# 886345	N/A	31410DWE6	1,542,741	1,678,360.06	0.15%
FEDERAL EXPRESS CORP PASS THRU TR 1993 PASS THRU	N/A	31331FAF8	1,448,255	1,651,011.19	0.15%
ERAC USA FINANCE COMPANY 5.60% 01/MAY/2015	N/A	26882PAS1	1,225,000	1,342,620.83	0.12%
FREDDIE MAC 3563 BA 4.000% 15/JUN/2022	N/A	31398JG56	1,295,851	1,323,784.16	0.12%
VIACOM INC 4.25% NTS 15/SEP/2015 USD1000	N/A	92553PAF9	1,140,000	1,226,137.26	0.11%
LB-USB COMMERCIAL MORTGAGE TRUST SERIES 2005-C3 CL	N/A	52108H4S0	1,125,487	1,127,922.67	0.10%
CELLCO PART/VERI WIRELSS 7.375% SNR NTS	N/A	92344SAJ9	1,000,000	1,109,863.00	0.10%
AMERICAN HONDA FINANCE CORP 6.7% MTN 01/OCT/2013	N/A	02666QD67	1,000,000	1,083,903.00	0.10%
MORGAN STANLEY CAP I INC 2004-TOP13 COML MTG	N/A	61745MVB6	1,000,000	1,053,871.00	0.09%
WEATHERFORD INTL INC 4.95% 15/OCT/2013	N/A	947075AA5	1,000,000	1,052,526.00	0.09%
JP MORGAN CHASE COMMERCIAL MORTGAGE SECURITIES	N/A	46636DAC0	1,000,000	1,042,746.00	0.09%
MORGAN STANLEY 3.8% SNR NT 29/APR/2016 USD1000	N/A	61747YDD4	1,000,000	975,387.00	0.09%
REYNOLDS AMERICAN INC 7.3% SNR NTS 15/JUL/2015	N/A	761713AR7	814,000	913,594.53	0.08%
BEAR STEARNS COMMERCIAL MORTGAGE SECURITIES TRUST	N/A	073945AB3	884,652	896,698.41	0.08%
BEAR STEARNS COS.INC 6.95% MTN 10/AUG/2007 USD1000	N/A	073928X73	867,000	891,216.18	0.08%
FEDEX CORP 6.72% BDS 15/JAN/2022 USD1000 SER 981'A	N/A	31331FAX9	738,110	882,041.84	0.08%
TIME WARNER CABLE INC 8.25% BDS 14/FEB/2014	N/A	88732JAQ1	750,000	852,714.00	0.08%
FHLMC MORTPASS ARM 01/OCT/2037 1B PN# 1B3601	N/A	3128JN3K9	795,307	846,079.37	0.07%
JP MORGAN CHASE COMMERCIAL MORTGAGE SECURITIES	N/A	46625YP72	773,458	823,047.22	0.07%
SABMILLER 5.7% NTS 15/JAN/2014 USD2000 '144A'	N/A	78572MAE5	750,000	807,306.75	0.07%
MORGAN STANLEY CAP 1 2005-HQ5 A4	N/A	61745M3F8	725,000	788,179.40	0.07%
PRINCIPAL LIFE INCOME FUNDING TRUST 5.3% MTN	N/A	74254PVP4	750,000	776,305.50	0.07%
LB-UBS COML MTG TR 5.845% CMO 15/JUL/2040 USD	N/A	52109PAB1	719,491	731,380.97	0.06%
GSAA TRUST 2004-NC1 2004-NC AF-6 VARIABLE	N/A	36228FC38	723,647	727,459.83	0.06%
MORGAN STANLEY CAPITAL I SER 2005-IQ9 CL A3	N/A	61745M2C6	631,477	643,523.52	0.06%
COMCAST CABLE COMM HOLDINGS NT 8.375% 15/MAR/2013	N/A	00209TAA3	547,000	589,765.01	0.05%
GE CAP COMM MTG CRP 05-C1 A3 4.578% 10/JUN/2048	N/A	36828QKP0	501,501	511,967.01	0.05%
BEAR STEARNS COMMERCIAL MORTGAGE SECURITIES TRUST	N/A	07387BFR9	410,239	429,724.81	0.04%
SUNOCO LOGISTICS PARTNERS GTD SRNT 8.75%	N/A	86765BAF6	365,000	404,336.78	0.04%
LB-UBS COMMERCIAL MORTGAGE TRUST 2004-C4 A-3	N/A	52108HE34	386,168	396,123.79	0.04%
ACCESS GROUP INC CLS'A2'FLTG RATE BDS 25/SEP/2025	N/A	00432CAL5	270,769	269,871.88	0.02%
MORGAN STANLEY CAPITAL I SER 2005-T19 CL A3	N/A	61745M5E9	192,598	192,564.01	0.02%
MORGAN STANLEY ABS CAPITAL I INC TRUST 2008-TOP29	N/A	61757LAC4	137,000	148,240.17	0.01%
MORGAN STANLEY CAPITAL I 2005-T19 CLAAB 4.852	N/A	61745M5F6	117,239	121,072.42	0.01%

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