| Issue |
Coupon |
Maturity Date |
Amount Owned |
% of Fund |
| Sears Hldgs 144A 6.625% |
6.62 |
2018-10-15 |
$60,000,000 |
13.72 |
| Mbia 7.15% |
7.15 |
2027-07-15 |
$47,000,000 |
9.2 |
| Mbia 6.625% |
6.62 |
2028-10-01 |
$40,000,000 |
7.59 |
| Telefonica, S.A. ADR |
|
|
$817,500 |
4.91 |
| Fidelity Instl MM Fds Money Market Instl |
0 |
|
$20,771,049 |
4.88 |
| Verizon Communications Inc |
|
|
$542,700 |
4.71 |
| US Treasury Bill |
0 |
2011-05-19 |
$20,000,000 |
4.7 |
| AT&T, Inc. |
|
|
$642,700 |
4.29 |
| Cit Grp 7% |
7 |
2016-05-01 |
$17,500,000 |
4.15 |
| Cit Grp 7% |
7 |
2017-05-01 |
$14,000,000 |
3.32 |
| Banco Santander SA ADR |
|
|
$1,122,500 |
3.24 |
| Xerox Corp., 0.650%, 04/11/2011 |
0.01 |
2011-04-11 |
$13,000,000 |
3.05 |
| Royal Dutch Shell PLC ADR A |
|
|
$174,900 |
2.97 |
| Regions Finl 6.375% |
6.38 |
2012-05-15 |
$10,000,000 |
2.42 |
| US Treasury Bill |
0 |
2011-04-07 |
$10,000,000 |
2.35 |
| American Express Credit Corp., 0.190%, 04/11/2011 |
0 |
2011-04-11 |
$10,000,000 |
2.35 |
| US Treasury Bill |
0 |
2011-05-05 |
$10,000,000 |
2.35 |
| Sears Roebuck Acceptance Corp., 1.001%, 03/10/2011 |
0.01 |
2011-03-10 |
$10,000,000 |
2.35 |
| Regions Finl 7% |
7 |
2011-03-01 |
$8,000,000 |
1.88 |
| AstraZeneca PLC ADR |
|
|
$129,000 |
1.49 |
| GlaxoSmithKline PLC ADR |
|
|
$160,000 |
1.45 |
| Bristol-Myers Squibb Company |
|
|
$237,000 |
1.44 |
| Alcoa, Inc., 0.500%, 03/07/2011 |
0 |
2011-03-07 |
$6,000,000 |
1.41 |
| Eli Lilly and Company |
|
|
$171,000 |
1.39 |
| At&T, Inc., 0.220%, 03/07/2011 |
0 |
2011-03-07 |
$5,000,000 |
1.17 |
