| Company | CUSIP | Number of Shares | Market Value | % of Net Assets ↓ |
| RESIDENTIAL ACCREDIT LOANS | IN | 0.328 | $0.00 | 10.00% |
| NEW ZEALAND GOVERNMENT | B087SCII1 | 4,300,000.000 | $3,994,192.34 | 1.69% |
| PNC FINANCIAL SERVICES | 693475AK1 | 3,500,000.000 | $3,668,595.00 | 1.55% |
| WACHOVIA CAP TRUST III | 92978AAA0 | 3,600,000.000 | $3,339,000.00 | 1.41% |
| CBL + ASSOCIATES PROP | 124830605 | 121,500.000 | $3,065,445.00 | 1.30% |
| FIFTH THIRD INSTL MMKT INST | 31678R700 | 2,846,157.820 | $2,846,157.82 | 1.20% |
| ENDURANCE SPECIALTY HLDG | G30397304 | 100,250.000 | $2,634,570.00 | 1.11% |
| DIGITAL REALTY TRUST INC | 253868707 | 95,000.000 | $2,516,550.00 | 1.06% |
| DDR CORP | 25159NAW5 | 2,113,000.000 | $2,426,780.50 | 1.03% |
| POLAND GOVERNMENT BOND | B4QH8FII6 | 7,500,000.000 | $2,391,304.35 | 1.01% |
| PUBLIC STORAGE | 74460W206 | 92,000.000 | $2,380,040.00 | 1.01% |
| BIOMED REALTY LP | 09064AAF8 | 2,240,000.000 | $2,324,710.08 | 0.98% |
| SEASPAN CORPORATION | Y75638125 | 85,050.000 | $2,310,808.50 | 0.98% |
| LLOYDS BANKING GROUP PLC | 539439802 | 87,000.000 | $2,275,920.00 | 0.96% |
| CINTAS CORPORATION NO. 2 | 17252MAK6 | 2,000,000.000 | $2,164,716.00 | 0.92% |
| ENTERPRISE PRODUCTS OPER | 29379VAU7 | 2,000,000.000 | $2,113,318.00 | 0.89% |
| AMERICAN TOWER CORP | 029912BD3 | 2,000,000.000 | $2,111,870.00 | 0.89% |
| SOUTHERN CAL ED | 842400756 | 21,150.000 | $2,101,252.50 | 0.89% |
| ANNALY CAPITAL MANAGEMENT IN | 035710409 | 128,101.000 | $2,090,608.32 | 0.88% |
| FORD MOTOR CREDIT CO LLC | 345397VX8 | 2,000,000.000 | $2,086,304.00 | 0.88% |
| RIO TINTO FIN USA LTD | 767201AK2 | 2,000,000.000 | $2,075,276.00 | 0.88% |
| TELSTRA CORP LTD | 608728903 | 560,000.000 | $2,065,561.57 | 0.87% |
| VORNADO REALTY LP | 929043602 | 73,775.000 | $2,047,256.25 | 0.87% |
| MGM RESORTS INTL | 55303QAE0 | 1,930,000.000 | $2,043,387.50 | 0.86% |
| DARDEN RESTAURANTS INC | 237194AJ4 | 1,950,000.000 | $2,037,779.25 | 0.86% |
| PROV OF NEW BRUNSWICK | 642866FV4 | 1,850,000.000 | $2,025,383.41 | 0.86% |
| STARWOOD PROPERTY TRUST INC | 85571B105 | 97,000.000 | $2,024,390.00 | 0.86% |
| SOUTH AUST GOVT FIN AUTH | B4R898II0 | 1,800,000.000 | $1,998,018.21 | 0.84% |
| US BANCORP | 902973833 | 73,200.000 | $1,980,792.00 | 0.84% |
| LAS VEGAS SANDS CORP | 517834107 | 35,379.000 | $1,963,180.71 | 0.83% |
| CA INC | 12673PAC9 | 1,760,000.000 | $1,962,436.96 | 0.83% |
| ARCH CAPITAL GROUP LTD | G0450A204 | 75,000.000 | $1,926,000.00 | 0.81% |
| PNC FINANCIAL SERVICES | 693475857 | 76,000.000 | $1,922,800.00 | 0.81% |
| REGENCY CENTERS CORP | 758849707 | 75,000.000 | $1,916,250.00 | 0.81% |
| ENBRIDGE ENERGY PARTNERS | 29250RAU0 | 1,800,000.000 | $1,904,990.40 | 0.81% |
| KIMCO REALTY CORP | 49446R828 | 70,000.000 | $1,887,900.00 | 0.80% |
| VISTEON CORP | 92839UAF4 | 1,830,000.000 | $1,884,900.00 | 0.80% |
| CREDIT SUISSE GUERNSEY | 225448208 | 71,800.000 | $1,884,750.00 | 0.80% |
| EXPORT IMPORT BK KOREA | 302154BA6 | 1,850,000.000 | $1,884,112.15 | 0.80% |
| CITIGROUP CAPITAL VII | 17306N203 | 74,225.000 | $1,877,892.50 | 0.79% |
| REALTY INCOME CORP | 756109807 | 70,800.000 | $1,872,660.00 | 0.79% |
| CHARLES SCHWAB CORP | 808513AE5 | 1,750,000.000 | $1,869,507.50 | 0.79% |
| KIMCO REALTY CORP | 49446R794 | 74,600.000 | $1,867,238.00 | 0.79% |
| JPMORGAN CHASE + CO | 46625HHA1 | 1,700,000.000 | $1,862,588.00 | 0.79% |
| BRITISH COLUMBIA PROV OF | 110709FK3 | 1,700,000.000 | $1,857,463.18 | 0.79% |
| AVIVA PLC | 05382A203 | 70,400.000 | $1,856,448.00 | 0.79% |
| LB UBS COMMERCIAL MORTGAGE TRU | 50179MAE1 | 1,600,000.000 | $1,818,806.40 | 0.77% |
| US BANCORP | 902973817 | 70,000.000 | $1,806,000.00 | 0.76% |
| ALLY AUTO RECEIVABLES TRUST | 02005RAD3 | 1,665,000.000 | $1,716,632.32 | 0.73% |
| CHESAPEAKE ENERGY CORP | 165167CG0 | 1,750,000.000 | $1,653,750.00 | 0.70% |
| CITIGROUP COMMERCIAL MORTGAGE | 17310MAE0 | 1,443,000.000 | $1,638,624.62 | 0.69% |
| BP PLC SPONS ADR | 055622104 | 37,000.000 | $1,606,170.00 | 0.68% |
| PFIZER INC | 717081103 | 69,768.000 | $1,599,780.24 | 0.68% |
| GOVERNMENT NATIONAL MORTGAGE A | 38378BQY8 | 9,999,999.999 | $1,591,562.67 | 0.67% |
| ANGLOGOLD HOLDINGS LTD | 03512Q206 | 37,550.000 | $1,550,815.00 | 0.66% |
| CIGNA CORP | 125509BS7 | 1,500,000.000 | $1,548,649.50 | 0.65% |
| TELEPHONE + DATA SYSTEM | 879433845 | 57,000.000 | $1,537,290.00 | 0.65% |
| COMCAST CORP | 20030NAZ4 | 1,275,000.000 | $1,518,378.38 | 0.64% |
| DELTA AIR LINES 2002 1G2 | 247367AY1 | 1,500,000.000 | $1,513,125.00 | 0.64% |
| KINDER MORGAN ENER PART | 494550BL9 | 1,500,000.000 | $1,510,570.50 | 0.64% |
| FNMA POOL AB3387 | 31416YXR4 | 1,423,034.810 | $1,509,317.05 | 0.64% |
| GREEN TREE FINANCIAL CORPORATI | 393505F98 | 1,415,895.250 | $1,486,837.55 | 0.63% |
| MACYS RETAIL HLDGS INC | 577778CB7 | 1,250,000.000 | $1,485,170.00 | 0.63% |
| FNMA POOL AB1952 | 31416XE22 | 1,383,061.700 | $1,483,576.72 | 0.63% |
| METLIFE INC | 59156R504 | 59,000.000 | $1,449,630.00 | 0.61% |
| GOVERNMENT NATIONAL MORTGAGE A | 38378BSX8 | 9,999,999.999 | $1,441,682.70 | 0.61% |
| AMERICAN EXPRESS CREDIT | 0258M0DD8 | 1,400,000.000 | $1,427,554.80 | 0.60% |
| GOVERNMENT NATIONAL MORTGAGE A | 38376GV64 | 9,999,999.999 | $1,420,398.19 | 0.60% |
| DTE ENERGY COMPANY | 233331602 | 51,000.000 | $1,415,250.00 | 0.60% |
| SSE PLC | B3N243II5 | 875,000.000 | $1,384,536.36 | 0.59% |
| BCE INC | 05534B760 | 33,728.000 | $1,366,995.84 | 0.58% |
| GOVERNMENT NATIONAL MORTGAGE A | 38376GT59 | 9,999,999.999 | $1,361,727.12 | 0.58% |
| ALEXANDRIA REAL ESTATE E | 015271703 | 54,000.000 | $1,354,860.00 | 0.57% |
| GENERAL MOTORS CO | 37045V209 | 34,200.000 | $1,335,168.00 | 0.56% |
| DANA HOLDING CORP | 235825AA4 | 1,250,000.000 | $1,331,250.00 | 0.56% |
| LEAR CORP | 521865AR6 | 1,194,000.000 | $1,307,430.00 | 0.55% |
| CORP BACKED TRUST CERTS | 21988G353 | 60,000.000 | $1,302,000.00 | 0.55% |
| GOVERNMENT NATIONAL MORTGAGE A | 38376G4P2 | 9,999,999.999 | $1,299,641.85 | 0.55% |
| PHILIP MORRIS INTERNATIONAL | 718172109 | 14,515.000 | $1,299,237.65 | 0.55% |
| EQUITY RESIDENTIAL PROPS | 29476L784 | 51,350.000 | $1,289,398.50 | 0.55% |
| GENERAL ELEC CAP CORP | 36962G4B7 | 1,000,000.000 | $1,265,968.00 | 0.54% |
| SOURCE CAP INC | 836144204 | 35,600.000 | $1,246,000.00 | 0.53% |
| US CELLULAR CORP | 911684405 | 46,700.000 | $1,230,545.00 | 0.52% |
| JPM CHASE CAPITAL XXIX | 48125E207 | 47,300.000 | $1,227,908.00 | 0.52% |
| KLA TENCOR CORP | 482480AA8 | 1,000,000.000 | $1,210,011.00 | 0.51% |
| NEXTERA ENERGY INC | 65339F101 | 18,800.000 | $1,209,780.00 | 0.51% |
| PS BUSINESS PARKS INC | 69360J719 | 46,000.000 | $1,201,060.00 | 0.51% |
| ASCIANO FINANCE | 04363UAA4 | 1,200,000.000 | $1,198,711.20 | 0.51% |
| AMERICAN FINANCIAL GROUP | 025932302 | 46,000.000 | $1,196,000.00 | 0.51% |
| INTEL CORP | 458140100 | 42,000.000 | $1,192,800.00 | 0.50% |
| ASSURED GUARANTY MUNI | 04623A304 | 50,000.000 | $1,187,000.00 | 0.50% |
| AMERIPRISE FINANCIAL INC | 03076C205 | 40,550.000 | $1,159,730.00 | 0.49% |
| FORD CREDIT AUTO OWNER TRUST | 34529LAF1 | 1,100,000.000 | $1,142,121.20 | 0.48% |
| BORGWARNER INC | 099724AE6 | 1,000,000.000 | $1,134,573.00 | 0.48% |
| STARBUCKS CORP | 855244109 | 19,500.000 | $1,118,910.00 | 0.47% |
| RENAISSANCERE HOLDINGS L | G7498P408 | 44,235.000 | $1,112,510.25 | 0.47% |
| DIRECTV HOLDINGS/FING | 25459HAT2 | 1,000,000.000 | $1,111,257.00 | 0.47% |
| FNMA POOL AB1953 | 31416XE30 | 1,033,870.050 | $1,106,099.55 | 0.47% |
| GOLDMAN SACHS CAPITAL II | 381427AA1 | 1,600,000.000 | $1,100,000.00 | 0.47% |
| KRAFT FOODS INC | 50075NBB9 | 1,000,000.000 | $1,093,419.00 | 0.46% |
| INTERPUBLIC GROUP COS | 460690AV2 | 1,000,000.000 | $1,090,000.00 | 0.46% |
| AMERICAN INCOME FUND INC | 02672T109 | 135,400.000 | $1,071,014.00 | 0.45% |
| HEALTH CARE REIT INC | 42217K601 | 20,000.000 | $1,067,600.00 | 0.45% |
| ANALOG DEVICES | 032654AG0 | 1,000,000.000 | $1,060,835.00 | 0.45% |
| MORGAN STANLEY CAP TRUST | 61753R200 | 43,100.000 | $1,058,105.00 | 0.45% |
| FIRST NIAGARA FIN GRP | 33582V207 | 37,000.000 | $1,048,580.00 | 0.44% |
| ANGLOGOLD HOLDINGS PLC | 03512TAA9 | 1,000,000.000 | $1,046,684.00 | 0.44% |
| ROCKWELL AUTOMATION INC | 773903109 | 13,500.000 | $1,044,090.00 | 0.44% |
| NATIONAL OILWELL VARCO INC | 637071101 | 13,700.000 | $1,037,912.00 | 0.44% |
| ACS PASS THROUGH TRUST | 00505HAA0 | 1,192,984.920 | $1,031,931.96 | 0.44% |
| NEXTERA ENERGY CAPITAL | 302570AX4 | 1,000,000.000 | $1,030,000.00 | 0.44% |
| NOTA DO TESOURO NACIONAL | B1KCZ0II2 | 1,870,000.000 | $1,029,929.86 | 0.44% |
| BB+T CAPITAL TRUST VII | 05531H208 | 40,000.000 | $1,028,000.00 | 0.43% |
| NOTA DO TESOURO NACIONAL | B1VRLRII3 | 1,900,000.000 | $1,027,294.81 | 0.43% |
| ALTRIA GROUP INC | 02209S103 | 31,850.000 | $1,025,888.50 | 0.43% |
| MBNA CAPITAL D | 55266J200 | 40,466.000 | $1,025,813.10 | 0.43% |
| USB CAPITAL XII | 903305209 | 40,000.000 | $1,015,200.00 | 0.43% |
| NEXTERA ENERGY INC | 65339F309 | 20,000.000 | $1,014,600.00 | 0.43% |
| ALABAMA POWER CO | 010392488 | 35,000.000 | $1,001,000.00 | 0.42% |
| 1ST FINANCIAL BANK USA | 32022NBC9 | 1,000,000.000 | $1,000,188.80 | 0.42% |
| PUBLIC STORAGE | 74460D158 | 37,000.000 | $999,740.00 | 0.42% |
| HCP INC | 40414LAA7 | 850,000.000 | $994,602.85 | 0.42% |
| MORGAN STANLEY CAPITAL I | 61745MUK7 | 1,000,000.000 | $976,308.00 | 0.41% |
| HOSPITALITY PROPERTIES TRUST | 44106M102 | 35,000.000 | $965,300.00 | 0.41% |
| STAPLES INC | 855030AJ1 | 850,000.000 | $963,180.90 | 0.41% |
| BB+T CAPITAL TRUST VI | 05531B201 | 36,000.000 | $938,880.00 | 0.40% |
| MID STATE TRUST | 595481AC6 | 943,867.260 | $938,139.12 | 0.40% |
| GREENWICH CAPITAL COMMERCIAL F | 396789FT1 | 875,000.000 | $930,992.13 | 0.39% |
| APACHE CORP | 037411808 | 17,500.000 | $929,600.00 | 0.39% |
| DB CONT CAP TRUST III | 25154A108 | 36,000.000 | $925,560.00 | 0.39% |
| DUKE REALTY CORP | 264411745 | 36,500.000 | $917,975.00 | 0.39% |
| WISCONSIN ENERGY CORP | 976657106 | 24,910.000 | $917,684.40 | 0.39% |
| GAZPROM (GAZ CAPITAL SA) | 368266AK8 | 850,000.000 | $904,434.00 | 0.38% |
| DUKE REALTY CORP | 264411760 | 36,000.000 | $900,720.00 | 0.38% |
| COUNTRYWIDE ALTERNATIVE LOAN T | 12667FJ63 | 860,947.860 | $878,140.99 | 0.37% |
| XCEL ENERGY INC | 98389B886 | 33,000.000 | $854,700.00 | 0.36% |
| UDR INC | 902653104 | 32,000.000 | $842,560.00 | 0.36% |
| ENTERGY MISSISSIPPI INC | 29364N835 | 30,000.000 | $825,600.00 | 0.35% |
| CULLEN/FROST CAP TR II | 230000AB7 | 1,000,000.000 | $813,110.00 | 0.34% |
| VERIZON COMMUNICATIONS INC | 92343V104 | 20,000.000 | $807,600.00 | 0.34% |
| HARRIS PREFERRED CAPITAL | 414567206 | 31,800.000 | $805,176.00 | 0.34% |
| CITIGROUP CAPITAL XIII | 173080201 | 30,000.000 | $798,900.00 | 0.34% |
| AXA SA | 054536AC1 | 1,000,000.000 | $795,000.00 | 0.34% |
| ALLIANZ SE | 018805200 | 30,000.000 | $792,189.00 | 0.33% |
| WELLS FARGO CAPITAL XII | 94985V202 | 30,000.000 | $788,400.00 | 0.33% |
| FMG RESOURCES AUG 2006 | 30251GAA5 | 750,000.000 | $776,250.00 | 0.33% |
| CARMAX AUTO OWNER TRUST | 14313HAE5 | 750,000.000 | $773,896.80 | 0.33% |
| BERKSHIRE HATHAWAY INC | 084670AV0 | 690,000.000 | $734,758.23 | 0.31% |
| INVESCO VAN KAMPEN SENIOR INCO | 46131H107 | 152,000.000 | $729,600.00 | 0.31% |
| JOY GLOBAL INC | 481165AF5 | 625,000.000 | $712,128.13 | 0.30% |
| VORNADO REALTY TRUST | 929042869 | 26,000.000 | $704,860.00 | 0.30% |
| WELLS FARGO MORTGAGE BACKED SE | 94981TAE2 | 678,700.050 | $679,741.18 | 0.29% |
| FIRST TENNESSEE BANK | 337158208 | 1,000.000 | $679,062.50 | 0.29% |
| NOVARTIS AG ADR | 66987V109 | 11,500.000 | $634,455.00 | 0.27% |
| COUNTRYWIDE CAPITAL IV | 22238E206 | 26,500.000 | $629,110.00 | 0.27% |
| CONSTELLATION ENERGY GRP | 210387205 | 23,000.000 | $614,330.00 | 0.26% |
| ML PFD CAPITAL TRUST III | 59021F206 | 24,800.000 | $613,552.00 | 0.26% |
| ENTERGY LA LCC | 29364W405 | 20,000.000 | $544,200.00 | 0.23% |
| PNC FINANCIAL SERVICES | 693475AJ4 | 500,000.000 | $518,518.50 | 0.22% |
| CORP BACKED TRUST CERTS | 21988G296 | 20,500.000 | $515,575.00 | 0.22% |
| CITIGROUP CAPITAL XII | 17315D204 | 20,000.000 | $514,800.00 | 0.22% |
| AMGEN INC | 031162BD1 | 500,000.000 | $511,556.00 | 0.22% |
| NATL CITY CAP TR III | 63540X201 | 20,000.000 | $507,800.00 | 0.21% |
| HUTCHISON WHAM INT 03/13 | 44841RAA9 | 486,000.000 | $504,272.63 | 0.21% |
| COMMONWEALTH REIT | 203233606 | 20,000.000 | $504,200.00 | 0.21% |
| STIFEL FINANCIAL CORP | 860630201 | 18,500.000 | $501,886.50 | 0.21% |
| EXPORT IMPORT BK KOREA | 302154AT6 | 425,000.000 | $467,080.10 | 0.20% |
| AMERICAN FINANCIAL GROUP | 026074AA2 | 375,000.000 | $463,397.25 | 0.20% |
| FNMA POOL 844415 | 31407YDU0 | 419,683.260 | $461,340.10 | 0.20% |
| US BANCORP | 902973155 | 20,000.000 | $451,800.00 | 0.19% |
| FREDDIE MAC | 31394G3D3 | 6,409,091.830 | $434,390.94 | 0.18% |
| WELLS FARGO MORTGAGE BACKED SE | 94983QAA4 | 423,360.660 | $420,132.96 | 0.18% |
| CAPITAL ONE CAPITAL V | 14043CAB9 | 400,000.000 | $417,000.00 | 0.18% |
| CAPITAL ONE CAPITAL VI | 14043DAB7 | 400,000.000 | $408,994.80 | 0.17% |
| EATON VANCE TAX ADVANTAGED DIV | 27828G107 | 23,600.000 | $391,760.00 | 0.17% |
| AAG HOLDING COMPANY INC | 000336305 | 15,200.000 | $382,888.00 | 0.16% |
| FED HM LN PC POOL G03170 | 3128M42B8 | 305,539.580 | $347,133.54 | 0.15% |
| FED HM LN PC POOL G12780 | 3128MBJZ1 | 296,419.790 | $329,485.26 | 0.14% |
| BEAR STEARNS ASSET BACKED SECU | 07384YPJ9 | 317,170.590 | $328,595.71 | 0.14% |
| US DOLLAR | USD | 296,000.000 | $296,000.00 | 0.13% |
| AUSTRALIAN DOLLAR | AUD | 130,406.120 | $135,876.65 | 0.06% |
| POLISH ZLOTY | PLN | 374,999.380 | $118,922.84 | 0.05% |
| FED HM LN PC POOL 972110 | 31336CKX0 | 84,062.660 | $85,436.74 | 0.04% |
| HYUNDAI AUTO RECEIVABLES TRUST | 44921AAC5 | 69,544.540 | $69,699.73 | 0.03% |
| FNMA POOL 738900 | 31402U3H3 | 48,662.640 | $49,452.90 | 0.02% |
| HONDA AUTO RECEIVABLES OWNER T | 43812WAC1 | 19,212.720 | $19,246.95 | 0.01% |
| MERRILL LYNCH MORTGAGE INVESTO | 589929D88 | 16,718.590 | $16,980.19 | 0.01% |
| BRAZILIAN REAL | BRL | 8,672.730 | $4,549.87 | 0.00% |
| VOLATILITY INDEX FUTURES VIX | 99Z377873 | 50,000.000 | $0.00 | 0.00% |
| POUND STERLING | GBP | -0.250 | -$0.41 | 0.00% |
| CANADIAN DOLLAR | CAD | -99.230 | -$100.45 | 0.00% |
| NORWEGIAN KRONE | NOK | -1,884.860 | -$329.35 | 0.00% |
