11-K 1 form11k.htm FISCAL YEAR ENDED 12.31.09 FORM 11-K form11k.htm


SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549




FORM 11-K


ANNUAL REPORT
PURSUANT TO SECTION 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934


  þANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934.
For the fiscal year ended: December 31, 2009


  oTRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934.
For the transition period from __________________________  to ___________________________


Commission file number: 1-4850


A. Full title of plan and the address of the plan, if different from that of the issuer named below: Computer Sciences Corporation Matched Asset Plan

B. Name of issuer of the securities held pursuant to the plan and the address of its principal executive office: Computer Sciences Corporation
 
3170 Fairview Park Drive
 
Falls Church, Virginia 22042

 
 
 

COMPUTER SCIENCES CORPORATION MATCHED ASSET PLAN
 
TABLE OF CONTENTS

 
   
Page
  
Report of Independent Registered Public Accounting Firm
     1  
         
FINANCIAL STATEMENTS AS OF DECEMBER 31, 2009 AND 2008 AND FOR THE YEAR ENDED DECEMBER 31, 2009:
        
         
Statements of Net Assets Available for Benefits        2  
         
Statement of Changes in Net Assets Available for Benefits
     3  
         
Notes to Financial Statements
     4-19  
         
SUPPLEMENTAL SCHEDULE AS OF DECEMBER 31, 2009:
        
         
Form 5500, Schedule H, Part IV, Line 4i – Schedule of Assets (Held at End of Year)
     S-1  
         
Exhibit 23 – Consent of Independent Registered Public Accounting Firm
     E-1  

Note:
All other schedules required by section 29 CFR 2520.103-10 of the Department of Labor’s Rules and Regulations for Reporting and Disclosure under the Employee Reitrement Income Security Act of 1974 have been omitted because they are not applicable



 
 

 
 
 


 
REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
 
To the Trustees and Participants of
Computer Sciences Corporation Matched Asset Plan
Falls Church, Virginia

We have audited the accompanying statements of net assets available for benefits of Computer Sciences Corporation Matched Asset Plan (the "Plan") as of December 31, 2009 and 2008, and the related statement of changes in net assets available for benefits for the year ended December 31, 2009. These financial statements are the responsibility of the Plan's management. Our responsibility is to express an opinion on these financial statements based on our audits.

We conducted our audits in accordance with standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. The Plan is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. Our audits included consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Plan's internal control over financial reporting. Accordingly, we express no such opinion. An audit also includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.

In our opinion, such financial statements present fairly, in all material respects, the net assets available for benefits of the Plan as of December 31, 2009 and 2008, and the changes in net assets available for benefits for the year ended December 31, 2009 in conformity with accounting principles generally accepted in the United States of America.

Our audits were conducted for the purpose of forming an opinion on the basic financial statements taken as a whole. The supplemental schedule of assets (held at end of year) as of December 31, 2009, is presented for the purpose of additional analysis and is not a required part of the basic financial statements, but is supplementary information required by the Department of Labor's Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. This schedule is the responsibility of the Plan's management. Such schedule has been subjected to the auditing procedures applied in our audit of the basic 2009 financial statements and, in our opinion, is fairly stated in all material respects when considered in relation to the basic financial statements taken as a whole.




Los Angeles, California
June 21, 2010

 
 
 

COMPUTER SCIENCES CORPORATION MATCHED ASSET PLAN

STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS
AS OF DECEMBER 31, 2009 AND 2008

   
2009
    
2008
  
ASSETS:
            
  Total investments – at fair value
   $ 2,846,798,151     $ 2,171,088,311  
                 
Receivables:
                
     Accrued investment income
     1,920,293       1,561,365  
     Unsettled trade receivables
     4,316,812       65,945,687  
     Other
     1,545,955       144,196  
        Total receivables
     7,783,060       67,651,248  
        Total assets
     2,854,581,211       2,238,739,559  
                 
LIABILITIES:
                
  Accrued expenses
     977,358       890,470  
  Unsettled trade payables
     28,819,281       81,726,003  
  Other
     31,431       480,174  
        Total liabilities
     29,828,070       83,096,647  
                 
NET ASSETS AVAILABLE FOR BENEFITS – At fair value
     2,824,753,141       2,155,642,912  
                 
Adjustment from fair value to contract value for fully benefit-responsive investment contracts
     (313,956 )     101,431  
                 
NET ASSETS AVAILABLE FOR BENEFITS
   $ 2,824,439,185     $ 2,155,744,343  

See notes to financial statements.
 

 
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COMPUTER SCIENCES CORPORATION MATCHED ASSET PLAN
 
STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS
FOR THE YEAR ENDED DECEMBER 31, 2009
 
   
2009
  
INVESTMENT GAINS:
      
  Net appreciation in fair value of investments
   $ 534,763,220  
  Interest
     15,353,780  
  Dividends
     4,946,220  
         
        Net investment gains
     555,063,220  
         
 ADDITIONS:
        
  Participant contributions
     238,794,366  
  Employer contributions
     58,353,156  
  Participant rollovers
     3,843,252  
         
        Total additions
     300,990,774  
         
DEDUCTIONS:
        
  Distributions to participants
     195,141,632  
  Administrative expenses
     2,764,554  
         
        Total deductions
     197,906,186  
         
INCREASE IN NET ASSETS AVAILABLE FOR BENEFITS BEFORE PLAN TRANSFERS
     658,147,808  
         
NET TRANSFERS FROM OTHER PLANS
     10,547,034  
         
NET ASSETS AVAILABLE FOR BENEFITS:
        
  Beginning of year
     2,155,744,343  
         
  End of year
   $ 2,824,439,185  
 
 
 
See notes to financial statements.

 
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COMPUTER SCIENCES CORPORATION MATCHED ASSET PLAN
 
NOTES TO FINANCIAL STATEMENTS
AS OF DECEMBER 31, 2009 AND 2008 AND FOR THE YEAR ENDED DECEMBER 31, 2009
 

1.  
DESCRIPTION OF THE PLAN
 
The following brief description of the Computer Sciences Corporation Matched Asset Plan (the “Plan”) is provided for general information purposes only. Participants should refer to the plan document for more complete information.
 
The Plan is a defined contribution plan adopted by the action of the Board of Directors of Computer Sciences Corporation (the “Company” or "CSC") taken on November 3, 1986, and constitutes an amendment and restatement of the Employee Stock Purchase Plan (“the Prior Plan”).
 
The Plan is a continuation of the Prior Plan and is qualified under the Internal Revenue Code (the “Code”), as amended, Section 401(a) and, effective as of January 1, 1987, with respect to the portion thereof that qualifies as a qualified cash or deferred arrangement, to satisfy the requirement of Code Section 401(k). It is also subject to the provisions of the Employee Retirement Income Security Act of 1974, as amended (ERISA).
 
The Plan is administered by the CSC Retirement and Employee Benefits Plans Committee (the “Committee”), which consists of four members who are appointed by the Board of Directors of the Company and serve without compensation and are reimbursed by the Company for all expenditures incurred in the discharge of their duties as members of the Committee. The Committee has the power to interpret, construe and administer the Plan and to decide any dispute which may arise under the Plan.
 
Plan Termination — Although it has not expressed any intent to do so, the Company reserves the right, under the Plan, to discontinue its contributions at any time and to terminate the Plan subject to the provisions of ERISA. In the event of Plan termination, the participants’ rights to the Company’s contributions vest immediately.
 
Interest in the CSC Sponsored Trust (“CSC Trust”) — The Plan’s investments are in a trust sponsored by the Company. Currently, certain participating plans are not part of the same control group as the Company, and the trust is not considered a master trust. The assets of the CSC Trust are held by The Bank of New York Mellon (the “Trustee”). At December 31, 2009 and 2008, the Plan’s interest in the assets of the CSC Trust was approximately 59.5% and 58.5%, respectively.  Investment income and administrative expenses relating to each discretionary or directed fund within the CSC Trust are allocated to the individual plans based upon average monthly balances invested by each plan in each discretionary or directed fund.  The Plan has a divided interest in the CSC Trust.
 
Eligibility and Participation — Any eligible employee who has satisfied the Plan’s age requirement, and is employed by the Company, and who receives a stated compensation in respect of employment on the payroll of the Company, is eligible to become a participant, with the exception of a person who is represented by a collective bargaining unit and whose benefits have been the subject of good faith bargaining under a contract that does not specify that such person is eligible to participate in the Plan. In addition, the Company may determine to exempt all employees of any division, unit, facility or class from coverage under the Plan. Any person who leaves the Company and, at a later time becomes re-employed, must reapply to participate in the Plan, provided he or she otherwise meets the eligibility requirements.
 

 
- 4 -
 

Employee and Company Contributions — An eligible employee who elects to become a participant may authorize any whole percentage (at least 1% but not more than 50%) of their compensation (as defined in the Plan) to be deferred and contributed to the trust fund on his or her behalf, subject to certain Code limitations. Any compensation deferral in excess of applicable Code limitations, together with income allocable to that excess, will be returned to a participant. Any matching Company contribution attributable to any excess contribution, and income allocable thereto, will either be returned to the Company or applied to reduce future matching Company contributions. Effective October 1, 2002, under the Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA), the Plan permits participants age 50 and over to make additional “catch-up” contributions in excess of the statutory limit. The catch-up provision provided these participants the opportunity to contribute up to an additional $5,500, on a pre-tax basis in 2009 and $5,000 in 2008.
 
A participant is not permitted to make voluntary after-tax contributions to the Plan, unless the participant is part of a collective bargaining unit for which after-tax contributions have been negotiated.
 
The Company will contribute an amount equal to 50% of the first 3% of the participant’s compensation deferral through the July 17, 2009 paycheck and 50% of the first 6% of the participant’s compensation deferral effective with the July 31, 2009 paycheck, except for 19 groups of employees for whom, under the terms of their contract agreements, the Company will contribute amounts based on the following rates:
 
 
•
Group 1 — 100% of the first 5% of the participant’s compensation deferral;
 
 
•
Group 2 — 50% of the first 3% of the participant’s compensation deferral;
 
 
•
Group 3 — 75% of the first 4% of the participant’s compensation deferral;
 
 
•
Group 4 — 66 cents for every $1 contributed through February 27, 2009 paycheck; $1 for every $1 contributed up to 10% effective March 19, 2009 paycheck;
 
 
•
Group 5 — 60% of the first 4% of the participant’s compensation deferral and 40% of the next 4% up to 8%;
 
 
•
Group 6 — discretionary employer contribution of $67.20 biweekly;
 
 
•
Group 7 — discretionary employer contribution of 4%;
 
 
•
Group 8 — discretionary employer contribution of 6.1%;
 
 
•
Group 9 — discretionary employer contribution of 5%;
 
 
•
Group 10 — 50% of the first 2% of the participant’s compensation deferral and discretionary employer contribution of 3%;
 
 
•
Group 11 — 66 2/3 cents for each $1 up to the first 6% of the participant’s compensation deferral;
 
 
•
Group 12 — 100% of the first 8% of the participant’s compensation deferral;
 
 
•
Group 13 — no match, no discretionary employer contribution
 
 
•
Group 14 — discretionary employer contribution of $1.30 per hour effective October 5, 2008; changes to $1.40 per hour effective October 12, 2009.

 
- 5 -
 

 
•
Group 15 — discretionary employer contribution of $85.60 biweekly;

 
•
Group 16 — discretionary employer contribution of $39.60 weekly;
 
 
•
Group 17 — discretionary employer contribution of $83.20 biweekly;
 
 
•
Group 18 — discretionary employer contribution of $46.00 weekly;
 
 
•
Group 19 — discretionary employer contribution of $92.00 biweekly
 
 
Participants should refer to the plan document for more information about the aforementioned groups.
 
Participant Accounts — Individual accounts are maintained for each Plan participant. Each participant’s account is credited with the participant’s contribution, the Company’s matching and discretionary contributions and allocations of Plan investment returns, net of an allocation of investment management fees, and is charged with distributions. Allocations are based on participant earnings or account balances, as defined by the plan document. The benefit to which a participant is entitled is the benefit that can be provided from the participant’s vested account.
 
Investments — Participants direct the investment of their contributions and account balance into various investment options offered by the Plan. The Plan currently offers the following 21 investment options: Money Market Fund, Short Duration Bond Fund, Core Bond Fund, Government TIPS Bond Fund, Active Allocation Fund, S&P 500 Index Fund, S&P 500 Select Fund, Active U.S. Equity Fund, U.S. Equity Completion Fund, International Equity Fund, CSC Stock Fund, Target Series Retirement Fund, Target Series Retirement 2010 Fund, Target Series Retirement 2015 Fund, Target Series Retirement 2020 Fund, Target Series Retirement 2025 Fund, Target Series Retirement 2030 Fund, Target Series Retirement 2035 Fund, Target Series Retirement 2040 Fund, Target Series Retirement 2045 Fund, and Target Series Retirement 2050 Fund. The T. Rowe Price Stable Value Fund is frozen to new participants and to new contributions. These investment options are made up of various investments as determined by the investment manager.
 
The investment return in the respective funds is allocated to a participant based on his or her account balance.
 
Vesting of Participants’ Interests/Forfeitures — Participants are vested immediately in his or her contributions plus actual earnings thereon.
 
With the exception of a few selected groups, vesting in his or her Matching Contribution Account is equal to twenty-five percent (25%) after completing two full years of service and increasing by twenty-five percent (25%) for each additional full year of service. Vesting accelerates to 100% in the event of reaching age 65 while employed by the Company or upon severance by reason of death or total and permanent disability.
 
Any nonvested portion of the Matching Contributions Account will be forfeited at the earlier of five one-year consecutive Breaks in Service or upon withdrawal from the Plan. Forfeitures may be applied to reduce future matching contributions by the Company. Such forfeitures during 2009 amounted to $3,470,297.  The Plan had a forfeiture balance of $502,728 at December 31, 2009 and $208,452 at December 31, 2008.  During the year ended December 31, 2009, employer contributions were reduced by $3,176,021.
 

 
- 6 -
 

Distributable Amounts, Withdrawals and Refunds — A participant may become entitled to his or her distributable benefit by reason of retirement, death, total and permanent disability, voluntary termination of employment or dismissal. The rules of payment of a participant’s distributable benefit depend upon age of the participant, the number of years of service completed by the participant and the type of severance.
 
While still an employee, a participant may, upon at least a 30 day written notice to the Committee, make a withdrawal of his or her compensation deferral contributions if the Committee finds, after considering the participant’s request, that an adequate financial hardship and resulting need for such amount has been demonstrated by the participant.
 
Administrative Expenses — Administrative expenses are paid by the Plan as provided in the plan document.  Effective June 30, 2009, a $3.25 monthly administration fee is applied to accounts of terminated participants.
 
2.  
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
 
Basis of Accounting — The accompanying financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America.
 
Use of Estimates — The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires Plan management to make estimates and assumptions that affect the reported amounts of net assets available for benefits and changes therein and disclosure of contingent assets and liabilities. Actual results could differ from those estimates.
 
Risks and Uncertainties — The Plan utilizes various investment instruments, including mutual funds, separate and commingled funds, Company stock, investment contracts, and certain derivative instruments. Investment securities, in general, are exposed to various risks, such as interest rate, credit, and overall market volatility. Due to the level of risk associated with certain investment securities, it is reasonably possible that changes in the value of investment securities will occur in the near term and that such changes could materially affect participants’ account balances and the amounts reported in the financial statements.
 
The Plan invests in securities of foreign companies, which involves special risks and considerations not typically associated with investing in U.S. companies. These risks include devaluation of currencies, less reliable information about issuers, different securities transaction clearance and settlement practices, and possible adverse political and economic developments. Moreover, securities of many foreign companies and their markets may be less liquid and their prices more volatile than those securities of comparable U.S. companies.
 
Security Transactions — Security transactions are accounted for on a trade-date basis. Dividend income is recorded on the ex-dividend date. Interest income is accounted for on the accrual basis. Net appreciation in fair value of investments includes realized and unrealized gains and losses on investments sold or held during the year.
 

 
- 7 -
 

Valuation of Investment Securities — Investments in common stocks are stated at fair value based upon closing sales prices reported on recognized securities exchanges on the last business day of the plan year.  Fixed income securities including U.S. government, corporate, mortgage backed, asset backed and other fixed income securities are valued by an independent trustee that uses third party pricing services.  These services use, for example, model-based pricing methods that use observable market data as inputs.  Broker dealer bids or quotes of securities with similar characteristics may also be used.  Investments in commingled funds are stated at estimated fair values, which have been determined based on the unit values of the funds. Unit values are determined by the financial institution sponsoring such funds by dividing the fund’s net assets at fair value by its units outstanding at the valuation dates. Investments in money market funds and certificate of deposits are stated at cost which approximates fair value. Derivatives are stated at fair value (see Note 10). Participant loans are stated at outstanding loan balances, which approximate fair value.
 
Commingled funds with underlying investments in investment contracts are stated at fair market value of the underlying investments and then adjusted to contract value for the purposes of the statements of net assets available for benefits. The T. Rowe Price Stable Value Common Trust Fund is a stable value fund. The fund invests principally in guaranteed investment contracts issued by insurance companies, investment contracts issued by banks, synthetic investment contracts (SICs) issued by banks, insurance companies and other issuers, and securities supporting such SICs, and other similar instruments which are intended to maintain a constant net asset value. Participants may ordinarily direct the withdrawal or transfer of all or a portion of their investment at contract value. Contract value represents contributions made to the fund, plus earnings, less participant withdrawals.
 
In accordance with Accounting Standards Codification (“ASC”) 946-210, Financial Services - Investment Companies - Balance Sheet (formerly FSP AAG INV-1 and SOP 94-4-1, Reporting of Fully Benefit-Responsive Contracts Held by Certain Investment Companies Subject to the AICPA Investment Company Guide and Defined-Contribution Health and Welfare and Pension Plans), the statements of net assets available for benefits present an investment contract at fair value, as well as an additional line item showing an adjustment of the fully benefit-responsive contract from fair value to contract value. The statement of changes in net assets available for benefit is presented on a contract value basis and is not affected by ASC 946-210. Fair value of the contract is calculated by discounting the related cash flows based on current yields of similar instruments with comparable durations.
 
The financial statements include investments in commingled funds whose fair values have been estimated by management in the absence of readily determinable fair values (see Note 5). Management’s estimates are based on information provided by the fund managers.
 
Payment of Benefits — Benefits are recorded when paid. Amounts allocated to accounts of persons who have elected to withdraw from the Plan but have not yet been paid were $5,387,104 and $4,561,220 at December 31, 2009 and 2008, respectively.
 
Accounting Standards Codification — The Financial Accounting Standards Board’s (“FASB”) ASC became effective on July 1, 2009. At that date, the ASC became FASB’s official source of authoritative U.S. generally accepted accounting principles (“GAAP”) applicable to all public and nonpublic nongovernmental entities, superseding existing guidance issued by the FASB, the American Institute of Certified Public Accountants , the Emerging Issues Task Force and other related literature. The FASB also issues Accounting Standards Updates (“ASU”). An ASU communicates amendments to the ASC. An ASU also provides information to help a user of GAAP understand how and why GAAP is changing and when the changes will be effective.
 

 
- 8 -
 

New Accounting Standards Adopted — On April 9, 2009, FASB Staff Position 157-4, Disclosures Determining Fair Value When the Volume and Level of Activity for the Asset or Liability Have Significantly Decreased and Identifying Transactions That Are Not Orderly (“FSP 157-4”), was issued and later codified into ASC 820, Fair Value Measurements and Disclosures, which expanded disclosures and required that major category for debt and equity securities in the fair value hierarchy table be determined on the basis of the nature and risks of the investments (see Note 5).  The guidance is effective for annual periods ending after June 15, 2009.  The adoption of ASC 820, Fair Value Measurements and Disclosures, had no impact on the statements of net assets available for benefits and the statement of changes in net assets available for benefits.
 
On September 30, 2009, the FASB issued ASU No. 2009-12, Fair Value Measurements and Disclosures: Investments in Certain Entities That Calculate Net Asset per Share (or Its Equivalent) (“ASU 2009-12”), which amended ASC Subtopic 820-10, Fair Value Measurements and Disclosures — Overall. ASU 2009-12 is effective for the first reporting period ending after December 15, 2009.  ASU 2009-12 permits, as a practical expedient, an entity holding investments in certain entities that calculate net asset value (“NAV”) per share or its equivalent for which the fair value is not readily determinable, to measure the fair value of such investments on the basis of that NAV per share or its equivalent without adjustment. The ASU requires enhanced disclosures about the nature and risks of investments within its scope. Such disclosures include the nature of any restrictions on an investor’s ability to redeem its investments at the measurement date, any unfunded commitments, and the investment strategies of the investee.  The Plan has adopted ASU 2009-12 on a prospective basis for the year ended December 31, 2009 (see Note 5).  The adoption of ASU 2009-12 had no impact on the statements of net assets available for benefits and the statement of changes in net assets available for benefits.
 
On February 24, 2010, the FASB issued ASU No. 2010-09, Subsequent Events (Topic 855): Amendments to Certain Recognition and Disclosure Requirements (“ASU 2010-09”).  This update provides amendments to Topic 855 – Subsequent Events to clarify certain recognition and disclosure requirements.  The amendments in this update remove the requirement for an SEC filing to disclose a date through which subsequent events have been evaluated in both issued and revised financial statements.  The adoption of ASU 2010-09 did not have an effect on the financial statements.
 
New Accounting Standards to be Adopted —  On January 21, 2010, the FASB issued ASU No. 2010-06, Fair Value Measurements and Disclosures (“ASU 2010-06”).  ASU 2010-06 amends ASC 820 (originally issued as FASB Statement No. 157, Fair Value Measurements), adding new disclosure requirements for Levels 1 and 2, separate disclosures of purchases, sales, issuances, and settlements relating to Level 3 measurements and clarification of existing fair value disclosures. ASU 2010-06 is effective for periods beginning after December 15, 2009, except for the requirement to provide Level 3 activity of purchases, sales, issuances, and settlements on a gross basis, which will be effective for fiscal years beginning after December 15, 2010.  The Plan is currently evaluating the impact ASU 2010-06 will have on the financial statements.
 
3.  
TAX STATUS
 
The Internal Revenue Service has determined and informed the Company by a letter dated May 13, 2003, that the Plan and related trust are designed in accordance with applicable sections of the Code.
 
The Committee believes that the Plan is designed and operated to qualify under applicable provisions of the Code. As such, no provision for income taxes has been included in the Plan’s financial statements.
 

 
- 9 -
 


 
4.  
INVESTMENT FUNDS
 
Participant contributions - Subject to rules the Committee may from time to time adopt, each participant has the right to designate one or more funds established by the Committee for the investment of his or her compensation deferral contributions, in increments of 1%. After an initial election has been made, a participant may designate a different fund or funds into which future compensation deferral contributions shall be invested as of the next possible pay date once per calendar month. In addition, a participant may elect to redesignate once per month any amounts in his or her accounts as of the current or next business day of any month (depending on when the election is made) to be invested in a different fund. These elections may be made by giving such advance notice as may be required by the Plan administrator.
 
The following table represents the individual investments that exceeded 5% of the Plan’s net assets available for benefits, as of December 31, 2009 and 2008:
 
Description of Issue
  
2009
    
2008
  
             
SSgA Money Market Fund
   $ 288,660,431     $ 311,375,475  
Commingled Funds:
                
  Mellon Bank Daily Liquidity Stock Index Fund (1)
     346,210,340       266,251,646  
  Frank Russell Equity #1 Fund
     167,356,438       129,464,358  
  Mellon Bank EB Daily Market Completion
     216,215,173       145,303,731  
  Fund (1)
                
  CSC common stock (1)
     506,363,297       304,739,105  
                 
(1)Represents a party-in-interest to the Plan.
                

The Plan’s investments (including gains and losses on investments bought and sold, as well as investments held during the year) appreciated in value during the year ended December 31, 2009 as follows:
 
   
2009
  
       
Interest in commingled funds
   $ 287,855,014  
CSC common stock
     196,883,817  
International equities
     36,670,431  
Bonds and debentures
     13,308,412  
Other
     45,546  
         
Total appreciation in fair value of investments
   $ 534,763,220  

5.  
FAIR VALUE MEASUREMENTS

In accordance with ASC 820, the Plan classifies investments into three levels based on valuation inputs used to determine fair value.  Level 1 refers to securities valued using quoted prices from active markets for identical assets; Level 2 refers to securities not traded on an active market but for which observable market inputs are readily available, or securities for which model-derived valuations have inputs that are observable or have significant value drivers that are observable; and Level 3 refers to securities valued based on significant unobservable inputs. Categorization within the hierarchy is based upon the lowest level of input that is significant to the fair value measurement.

 
- 10 -
 


As required by ASC 820, at December 31, 2009 and 2008, the Plan’s portfolio investments were classified as follows within the fair value hierarchy:
 
   
Investment Assets at Fair Value as of December 31, 2009
  
   
Quoted Prices
In Active
Markets for
Identical Assets
Level 1
    
Significant
Observable
Inputs
Level 2
    
Significant
Unobservable
Inputs
Level 3
    
Total
Fair Value
  
Equity:
                        
     International
   $ 195,533,411     $ 4,246,283     $ -     $ 199,779,694  
     CSC common stock
     506,363,297       -       -       506,363,297  
     Domestic equity commingled funds
     -       806,060,924       -       806,060,924  
                                 
Fixed Income:
                                
     U.S. Treasuries
     -       40,309,290       -       40,309,290  
     U.S. government agencies
     -       15,245,301       -       15,245,301  
     State and local obligations
     -       1,833,154       -       1,833,154  
     Non U.S. government
     -       11,156,790       -       11,156,790  
     Mortgage backed securities
     -       42,157,019       -       42,157,019  
     Asset backed securities
     -       76,258,528       -       76,258,528  
     Corporate
     -       85,979,997       -       85,979,997  
     Fixed income commingled fund
     -       92,234,179       -       92,234,179  
     Stable value fund
     -       10,454,801       -       10,454,801  
     Balanced commingled funds
     -       587,150,907       -       587,150,907  
     Other fixed income securities
     -       10,333,490       -       10,333,490  
     Participant loans
     -       40,601,658       -       40,601,658  
                                 
Derivatives
     -       274,612       -       274,612  
                                 
Cash & cash equivalents
     724       320,603,786       -       320,604,510  
                                 
Total
   $ 701,897,432     $ 2,144,900,719     $ -     $ 2,846,798,151  

 

 
- 11 -
 


   
Investment Assets at Fair Value as of December 31, 2008
  
   
Quoted Prices in Active Markets for Identical Assets
    
Significant Observable Inputs
    
Significant Unobservable Inputs
    
Total
  
   
(Level 1)
    
(Level 2)
    
(Level 3)
    
Fair Value
  
Assets:
                        
Interest in commingled funds
   $ -     $ 1,097,694,198     $ -     $ 1,097,694,198  
Managed accounts:
                                
CSC common stock
     304,739,105       -       -       304,739,105  
Cash
     701       -       -       701  
Short-term investment funds
     -       53,557,179       -       53,557,179  
Money market
     -       311,375,475       -       311,375,475  
Bonds and debentures
     -       226,065,816       -       226,065,816  
International equity portfolios
     -       141,004,888       -       141,004,888  
Derivatives
     -       (562,721 )     -       (562,721 )
Participant loans
     -       37,213,670       -       37,213,670  
Total investment assets at fair value
   $ 304,739,806     $ 1,866,348,505     $ -     $ 2,171,088,311  

Commingled Funds — The commingled funds held by the Plan have a daily redemption frequency and have no unfunded commitments or notice period requirement for participants.   The investment strategy for each commingled fund category as presented above is as follows:
 
·  
Domestic equity commingled funds

The Mellon Daily Liquidity Stock Index Fund holds each stock in the S&P 500 Index. Each stock in the Fund is held near its S&P 500 Index proportion weights. The Index is structured to approximate the general distribution of the industries in the U.S. economy.

The State Street Global Advisor (“SSgA”) Index Plus Secs Lending Fund seeks characteristics similar to those of the underlying benchmark using stocks that are highly ranked by multifactor and industry selection models. Because the portfolio seeks to remain well diversified across all industries, the portfolio characteristics are similar to those of the S&P 500 Index.
 
In the Frank Russell Equity #1 Fund, to moderate volatility, the fund manager manages the Fund using a multi-style, multimanager structure, using three primary styles of equity investment management: value, growth and market-oriented managers.

The Mellon EB Daily Market Completion Fund seeks to match the performance of the Dow Jones 4500 Completion Index, which is made up of the universe of mid- and small-size companies. The Fund samples from the smaller company stocks and optimizes the investment universe to reflect the characteristics of the entire Index.

 
- 12 -
 


·  
Fixed income commingled fund

The SSgA Government TIPS Bond Fund seeks to match the return of the Barclays Capital Inflation Notes Index by investing in a portfolio of U.S. Treasury inflation protected securities.   The manager seeks to remain duration neutral to the Index at all times and seeks to match overall sector and security weightings to the Index. The strategy is one of full replication, owning a market-value weight of each security in the benchmark.

·  
Stable value fund
 
 
The T. Rowe Price Frozen Stable Value Fund invests primarily in a portfolio of Guaranteed Investment Contracts (GICs), Bank Investment Contracts (BICs), and Synthetic Investment Contracts (SICs), including underlying fixed income securities supporting SICs.  Contracts are issued by U.S. insurance companies, U.S. banks, and U.S. branches of foreign insurance companies and foreign banks.

·  
Balanced commingled funds
 
 
The SSgA Target Series of Investment Funds (Retirement and the Target Series Retirement Funds, 2010 through 2050) start out with a stock and bond mix based on a pre-determined asset allocation schedule. Professional managers then adjust the index fund mix annually, gradually decreasing the stock allocations while increasing the bond allocations as the retirement date approaches.

In the Melon EB Daily Liquidity Enhanced Active Allocation Fund, the investment manager decides how much to invest in the various markets or asset classes (stocks, bonds and cash equivalents) based on their assessment of the relative valuations of the asset classes using an asset allocation model. The decision is made relative to the Fund’s benchmark.

6.  
PARTICIPANT LOANS
 
The Plan allows participants to borrow from their vested account balances from a minimum of $1,000 to a maximum of 50% of their vested account balances up to $50,000, subject to certain limitations. The loans are secured by the balance in the participant account and bear interest at the prime rate quoted in the Wall Street Journal plus 1%. Loan terms range from 1-5 years or up to 15 years for purchase of a principal residence. Loans are recorded at outstanding loan balances, which approximate fair value, on the statements of net assets available for benefits.
 
Loan amounts are taken from the participants’ accounts according to a priority specified in the Plan’s loan rules and, within each account, prorated from the funds based on their balances at the time. Loan principal repayments go back into the participants’ accounts in the reverse order of the priority specified in the Plan’s loan rules. Interest payments are prorated to the participants’ accounts based on each account’s outstanding principal. Both loan principal and interest repayments are invested according to the participant’s current investment fund election for contributions (except for employer match). Principal and interest are paid ratably through payroll deductions.
 

 
- 13 -
 


 
7.  
INVESTMENTS IN CSC TRUST
 
The following table presents investments in the CSC Trust at fair value, at December 31, 2009 and 2008.
 
   
2009
    
2008
  
Investments – at fair value:
            
Cash
   $ 109,439     $ 30,286  
Short-term investment funds
     69,698,599       88,853,668  
Money market
     288,660,431       311,375,475  
Bonds and debentures
     524,286,864       416,845,538  
CSC Common stock
     506,363,297       304,739,105  
Common stock      32,153,413        18,373,605  
International equities
     239,946,677       189,999,193  
Investment in registered investment company
     82,939,441       51,804,995  
                 
      1,744,158,161       1,382,021,865  
                 
Investment – at estimated fair value:
                
  Interest in commingled funds
     3,002,518,274       2,294,832,150  
  Derivatives
     274,612       (562,721 )
                 
      3,002,792,886       2,294,269,429  
                 
Investment – at cost, which approximates fair value – participant loans
     40,601,658       37,213,670  
                 
Total CSC trust – at fair value
     4,787,552,705       3,713,504,964  
                 
Adjustment from fair value to contract value for fully benefit-responsive investment contracts         (313,956 )       101,431  
                 
Total CSC trust, Net   $   4,787,238,749      $ 3,713,606,395  
                 
Plan’s Interest in CSC Trust – at fair value
     2,846,798,151       2,171,088,311  
                 
Adjustment from fair value to contract value for fully benefit-responsive investment contracts       (313,956 )       101,431  
                 
Plan's Interest in CSC Trust, Net    $   2,846,484,195      $  2,171,189,742  

 
 
 

 
- 14 -
 


 
The investment income of the CSC Trust for the years ended December 31, 2009 is summarized as follows:
 
   
2009
  
       
Appreciation:
      
  Bonds and debentures
   $ 24,711,206  
  CSC common stock
     196,883,817  
  International equity portfolios
     53,564,592  
  Registered investment company
     26,094,076  
  Interest in commingled funds
     602,709,820  
  Other
     7,887  
         
        Net appreciation in fair value of investments
     903,971,398  
         
Dividends
     8,911,778  
Interest
     25,723,411  
         
CSC Trust investment income
   $ 938,606,587  
         
Plan’s interest in the CSC trust investment income
   $ 555,063,220  

8.  
EXEMPT PARTY-IN-INTEREST TRANSACTIONS
 
Certain investment funds are managed by The Bank of New York Mellon and by one of its management firms, Mellon Capital Management. The Bank of New York Mellon is the trustee as defined by the Plan and, therefore, these transactions qualify as exempt party-in-interest transactions. The trustee fees associated with short-term investment funds that were managed by the trustee were paid by the Company and amounted to $1,500 for the year ended December 31, 2009. During the year ended December 31, 2009, the Plan expensed $421,079 to The Bank of New York Mellon’s Mellon Capital Management for fund manager fees.
 
At December 31, 2009 and 2008, the Plan held 8,801,726 and 8,672,143 shares, respectively, of common stock of the Computer Sciences Corporation, the sponsoring employer, with a cost basis of $462,948,747 and $455,832,921, respectively. Computer Science Corporation common stock did not pay dividends for the year ended December 31, 2009.
 
9.  
MERGERS AND SPIN-OFF
 
On December 22, 2009, the Log.Sec Corporation 401(k) Plan (the "Log.Sec Plan") was merged into the Plan.  The participants' investment account balances of the Log.Sec Plan were transferred into the Plan.  The participants of the Log.Sec Plan transferred from the Log.Sec payroll to CSC payroll and thereby, were eligible to participate in the Plan beginning January 15, 2010.  Plan's management believes that this merger is a tax-exempt transaction under the applicable provisions of the Code, and therefore, not subject to federal income taxes.
 
On December 4, 2009, the ITS Medical Systems, LLC 401(k) Plan (the “ITS Plan”) was merged into the Plan. The participants’ investment account balances of the ITS Plan were transferred into the Plan. Plan’s management believes that this merger is a tax-exempt transaction under the applicable provisions of the Code, and therefore, not subject to federal income taxes.

 
- 15 -
 

 
 
10.  
DERIVATIVE FINANCIAL INSTRUMENTS
 
In the Plan’s investment funds, one fixed income investment manager is permitted to use certain specified types of derivative instruments as part of its strategy. This strategy includes the use of futures, swaps, and options as substitutes for and in conjunction with certain types of fixed income securities. Derivatives are often used to manage market risk and to achieve overall investment portfolio objectives but not for speculation.  Exchange listed futures are priced using vendor services. Over-the-counter derivatives are priced using broker quotes.
 
Futures Contracts — The Plan enters into futures contracts in the normal course of its investing activities to manage market risk associated with the Plan’s fixed income investments and to achieve overall investment portfolio objectives. The credit risk associated with these contracts is minimal as they are traded on organized exchanges and settled daily.
 
During 2009 and 2008, the Plan was a party to futures contracts held for trading purposes for U.S. Treasury securities. Upon entering into a futures contract, the Plan is required to deposit either in cash or securities an amount (“initial margin”) equal to a certain percentage of the fair value of the contract. Subsequent payments are then made or received by the Plan, depending on the daily fluctuations in the value of the underlying contracts.
 
At December 31, 2009, the Plan had futures contracts to buy and sell U.S. Treasury Notes contracts with notional amounts of $42,600,000 and $32,000,000, respectively; and to sell Eurodollar contracts with notional amounts of $6,000,000. At December 31, 2008, the Plan had futures contracts to buy and sell U.S. Treasury Notes contracts with notional amounts of $56,800,000 and $3,600,000, respectively, to buy U.S. Treasury Bond contracts with notional amounts of $1,200,000, and to buy and sell Eurodollar contracts with notional amounts of $18,000,000 and $24,000,000, respectively.  Notional amounts do not quantify risk or represent assets or liabilities of the Plan, but are used in the calculation of cash settlements under the contracts.
 
The fair value of futures contracts in the statements of net assets available for benefits is zero at December 31, 2009 and 2008, as settlements are made by cash daily. Realized gains or losses are accounted for as net appreciation (depreciation) in fair value of investments.
 
Interest Rate Swap — An interest rate swap is an agreement between two parties (known as counterparties) where one stream of future interest payments is exchanged for another based on a specified principal amount. Interest rate swaps often exchange a fixed payment for a floating payment that is linked to an interest rate (most often the LIBOR). The Plan will typically use interest rate swaps to limit, or manage, its exposure to fluctuations in interest rates, or to obtain a marginally lower interest rate than it would have been able to get without the swap. Counterparties must be rated BBB or better by a nationally recognized rating agency. The Plan had entered into 16 interest rate swap contracts as of December 31, 2009, with a total fair value of $274,612 and a notional value of $52,700,000. The Plan had entered into 19 interest rate swap contracts as of December 31, 2008, with a total fair value of $337,453 and a notional value of $46,700,000.
 

 
- 16 -
 

Credit Default Swap — A credit default swap is designed to transfer the credit exposure of fixed income products between parties. The buyer of a credit swap receives credit protection, whereas the seller of the swap guarantees the credit worthiness of the product. By doing this, the risk of default is transferred from the holder of the fixed income security to the seller of the swap.  The Plan had no credit default swap positions as of December 31, 2009.  The Plan had entered into one credit default swap with a fair value of ($923,931) and notional amount of $3,100,000 as of December 31, 2008. The index involved in that swap was the Dow Jones North American Investment Grade High Volatility Index. This index was a collection of high volatility names that was priced monthly by Dow Jones.
 
Swaption — A swaption is an option to enter into an interest rate swap. In exchange for an option premium, the buyer gains the right but not the obligation to enter into a specified swap agreement with the issuer on a specified future date. As of December 31, 2009, there were no swaption contracts.  As of December 31, 2008, the Plan had entered into two interest swaption contracts with a fair value of $23,757 and a notional amount of $6,100,000.
 
At December 31, 2009, the fair value of derivatives was $274,612. At December 31, 2008, the fair value of derivatives was ($562,721).
 
The fair values of derivative instruments in the statement of net assets available for benefits are as follows:
 
 
As of December 31, 2009
  
 
Asset Derivatives
  
Liability Derivatives
  
Derivatives not qualifying as hedging instruments under Subtopic 815-20
Statement of Net Assets Available for Benefits Location
  
Fair Value
  
Statement of Net Assets Available for Benefits Location
  
Fair Value
  
 Interest rate contracts
 Investments at fair value
   $ 879,913  
 Investments at fair value
   $ (605,301 )
                     
Total derivatives
     $ 879,913       $ (605,301 )
 
 
The effect of derivative instruments on the statement of changes in net assets available for benefits is as follows:

 
For the Year Ended December 31, 2009
  
Derivatives not qualifying as hedging instruments under Subtopic 815-20
Location of Gain or (Loss) in the Statement of Changes in Net Assets Available for Benefits
  
Amount of Gain (Loss) Recognized in Income on Derivatives
  
Interest rate contracts
Net appreciation in fair value of investments
   $ 165,013  
Credit derivatives
Net depreciation in fair value of investments
     (778,765 )
Total derivative loss
     $ (613,752 )


 
- 17 -
 


11.  
RECONCILIATION OF FINANCIAL STATEMENTS TO FORM 5500
 
The following is a reconciliation of net assets available for benefits per the financial statements to the Form 5500, at December 31, 2009 and 2008:
 
   
2009
    
2008
  
             
Net assets available for benefits per the financial statements
   $ 2,824,439,185     $ 2,155,744,343  
Amounts allocated to withdrawing participants
     (5,387,104 )     (4,561,220 )
Adjustment from contract value to fair value for fully benefit-responsive investment contracts
     313,956       (101,431 )
Net assets available for benefits per Form 5500
   $ 2,819,366,037     $ 2,151,081,692  

The following is a reconciliation of net increase in assets before transfers per the financial statements to the Form 5500 for the year ended December 31, 2009:
 
   
2009
  
       
Net increase in net assets before transfers per the financial statements
   $ 658,147,808  
Adjustment from contract value to fair value for fully benefit-responsive investment contracts
     313,956  
Net increase in net assets before transfers per Form 5500
   $ 658,461,764  

The following is a reconciliation of distributions to participants per the financial statements to the Form 5500, for the year ended December 31, 2009:
 
   
2009
  
       
Distributions to participants per the financial statements
   $ 195,141,632  
Amounts allocated to withdrawing participants at end of year
     5,387,104  
Amounts allocated to withdrawing participants at start of year
     (4,561,220 )
Distributions to participants per the Form 5500
   $ 195,967,516  

Amounts allocated to withdrawing participants are recorded as distributions on the Form 5500 for benefit claims that have been processed and approved for payment prior to year end but not paid as of that date.
 

 
- 18 -
 


 
12.  
SUBSEQUENT EVENTS
 
On May 19, 2010, the Company’s Board of Directors declared a dividend of $0.15 per share for the quarter ended April 2, 2010, payable on July 15, 2010 to the holders of record of the Company’s common stock as of the close of business on June 15, 2010.


 
******
 

 
- 19 -
 
 
 
SIGNATURES


The Plan.  Pursuant to the requirements of the Securities Act of 1934, the Computer Sciences Corporation Retirement and Employee Benefits Plans Committee has duly caused this annual report to be signed on its behalf by the undersigned thereunto duly authorized.


                                                                                           Computer Sciences Corporation
                                                                                                                                                                                           MATCHED ASSET PLAN




Date: June 21, 2010                                                                                                                                    By:      /s/ Donald G. DeBuck                                                                          
                                                                                         Donald G. DeBuck
                                                                                                                                                                                         Committee Member, CSC Retirement and Employee Benefits Plans
 
 
 

 
- 20 -
 

 
 
 
 

 
SUPPLEMENTAL SCHEDULE

 
 
 

Form 5500, Schedule H, Line 4i
Computer Sciences Corporation
EIN 95-2043126
Computer Sciences Corporation Matched Asset, Plan 001

(a)
  
(b) Identity of issue, borrower, lessor or similar party
(c) Description of investment including maturity date, rate of interest, collateral, par or maturity value
  
(d) Cost
    
(e) Current Value
  
                           
 
  
Euro
Cash
                 $ 724  
                             
   
State Street Global Advisor
Money Market Fund
                   288,660,431  
  *  
The Bank of New York Mellon
Collective Short Term Invest Fd
           31,943,280  
  *  
Mellon Temporary Investment Fund
Collective Short Term Invest Fd
           75  
           
Total Short-Term Investments
       320,603,786  
                               
  *  
Computer Sciences Corporation
Common Stock (8,801,726 shares)
   $ 462,948,747       506,363,297  
                                 
     
Computer Sciences Corporation
Participant loans
                     40,601,658  
                                 
  *  
Mellon Bank, N.A.
Commingled Fund - Daily Liquidity Stock Index Fund
             346,210,340  
  *  
Mellon Bank, N.A.
Commingled Fund - EB Daily Liquidity Enhanced Asset Allocation
             100,537,273  
     
State Street Global Advisor
Commingled Fund - SSGA Index Plus Secs Lending Ser A Fund
             76,278,973  
  *  
Mellon Bank, N.A.
Commingled Fund - Mellon EB Daily Market Completion Fund
             216,215,173  
     
Frank Russell
Commingled Fund - Frank Russell Equity #1 Fund
             167,356,438  
     
State Street Global Advisor
Commingled Fund - SSGA Gov't TIPS Bond Fund
             92,234,179  
     
State Street Global Advisor
SSgA Target Retirement Fund
                 30,093,959  
     
State Street Global Advisor
SSgA Target Ser Ret 2010
                 58,754,914  
     
State Street Global Advisor
SSgA Target Ser Ret 2015
                 86,110,651  
     
State Street Global Advisor
SSgA Target Ser Ret 2020
                 95,652,369  
     
State Street Global Advisor
SSgA Target Ser Ret 2025
                 83,165,686  
     
State Street Global Advisor
SSgA Target Ser Ret 2030
                 59,459,483  
     
State Street Global Advisor
SSgA Target Ser Ret 2035
                 36,057,413  
     
State Street Global Advisor
SSgA Target Ser Ret 2040
                 20,737,993  
     
State Street Global Advisor
SSgA Target Ser Ret 2045
                 8,888,892  
     
State Street Global Advisor
SSgA Target Ser Ret 2050
                 7,692,274  
     
T.Rowe Price
Commingled Fund - Frozen Stable Value Fund
             10,454,801  
       
Total Interest in Commingled Funds
       1,495,900,811  
                                 
     
Achmea Hypotheekbank Nv Medium~Term Nts Book Entry 144A Neth~Tranche # Tr 1~Scheme
Corporate Bonds
     3.200 %
11/03/14
             389,243  
     
Achmea Hypotheekbank Nv Medium~Term Nts Book Entry 144A Neth~Tranche # Tr 1~Scheme
Corporate Bonds
     3.200 %
11/03/14
             1,037,982  
     
Alabama Pwr Co~Sr Nt Ser 2007D
Corporate Bonds
     4.850 %
12/15/12
             642,656  
     
Allstate Corp~Jr Sub Deb Fixed-Fltg Ser B
Corporate Bonds
     6.125 %
05/15/37
             69,600  
     
Aol Time Warner Inc
Corporate Bonds
     7.625 %
04/15/31
             11,616  
     
AT&T Broadband Corp~Nt
Corporate Bonds
     8.375 %
03/15/13
             1,031,667  
     
AT&T Corp~Usd Sr Nt
Corporate Bonds
     7.300 %
11/15/11
             622,105  
     
AT&T Inc~Global Nt
Corporate Bonds
     6.300 %
01/15/38
             507,865  
     
AT&T Inc~Global Nt
Corporate Bonds
     5.500 %
02/01/18
             62,605  
     
AT&T Inc~Global Nt
Corporate Bonds
     5.800 %
02/15/19
             95,936  
     
Australia & New Zealand Bkg~Group Ltd Sr Medium Term Nts~Tranche # Sr 00005~Govt Gtee Scheme
Corporate Bonds
        
06/18/12
             783,933  
 
 
 
S-1
 
 
 
  (a)    (b) Identity of issue, borrower, lessor or similar party (c) Description of investment including maturity date, rate of interest, collateral, par or maturity value   (d) Cost       (e) Current Value  
     
Bank Amer Corp
Corporate Bonds
     6.000 %
09/01/17
             228,342  
     
Bank New York Inc Medium Term~Sr Nts Book Entry~Tranche # Tr 00027
Corporate Bonds
        
03/23/12
             457,001  
     
Bear Stearns Cos Inc
Corporate Bonds
     5.350 %
02/01/12
             812,866  
     
Bellsouth Corp~Nt
Corporate Bonds
     4.750 %
11/15/12
             640,688  
     
Berkshire Hathaway Fin Corp~Sr Nt
Corporate Bonds
     4.000 %
04/15/12
             1,613,872  
     
Bp Cap Mkts P L C
Corporate Bonds
     1.550 %
08/11/11
             1,223,797  
     
Bp Cap Mkts P L C~Gtd Nt
Corporate Bonds
     3.125 %
03/10/12
             587,129  
     
Bristol-Meyer Squibb
Corporate Bonds
     6.875 %
08/01/97
             21,679  
     
Burlington Northn Santa Fe~Corp~Nt Dtd 05/15/2001
Corporate Bonds
     6.750 %
07/15/11
             786,152  
     
Canadian Nat Res Ltd~Nt
Corporate Bonds
     6.500 %
02/15/37
             159,114  
     
Canadian Natl Ry Co~Nt
Corporate Bonds
     6.375 %
10/15/11
             657,042  
     
Cdp Finl Inc  Rstr~Gtd Sr Nt
Corporate Bonds
     4.400 %
11/25/19
             957,890  
     
Cenovus Energy Inc~Sr Nt
Corporate Bonds
     6.750 %
11/15/39
             256,162  
     
Centerpoint Energy Res Corp~Sr Nt
Corporate Bonds
     7.875 %
04/01/13
             73,214  
     
Chevron Corp Deb
Corporate Bonds
     3.450 %
03/03/12
             727,524  
     
Chubb Corp~Directly-Issued Sub Cap Secs
Corporate Bonds
     6.375 %
03/29/37
             139,500  
     
Cisco Sys Inc~Sr Nt
Corporate Bonds
     4.450 %
01/15/20
             637,637  
     
Citibank N A Fdic Gtd Tlgp~Nt
Corporate Bonds
     1.375 %
08/10/11
             1,353,578  
     
Citibank N A Fdic Gtd Tlgp~Nt Dtd 10/2009
Corporate Bonds
     1.750 %
12/28/12
             1,129,968  
     
Citigroup Fdg Inc Fdic Gtd
Corporate Bonds
     2.250 %
12/10/12
             544,239  
     
Citigroup Fdg Inc Fdic Gtd
Corporate Bonds
     2.250 %
12/10/12
             861,712  
     
Citigroup Fdg Inc Fdic Gtd~Tlgp~Gtd Nt
Corporate Bonds
     1.875 %
11/15/12
             977,472  
     
Citigroup Fdg Inc Fdic Gtd~Tlgp~Nt
Corporate Bonds
     1.375 %
05/05/11
             1,081,869  
     
Citigroup Fdg Inc Fdic Gtd~Tlgp~Nt
Corporate Bonds
     1.375 %
05/05/11
             1,549,841  
     
Citigroup Fdg Inc Fdic Gtd~Tlgp~Nt
Corporate Bonds
     1.875 %
10/22/12
             821,882  
     
Citigroup Inc Fdic Gtd Tlgp~Gtd Nt
Corporate Bonds
     2.125 %
04/30/12
             1,298,762  
     
Coca Cola Co~Nt
Corporate Bonds
     5.350 %
11/15/17
             285,463  
     
Comcast Corp New~Gtd Nt
Corporate Bonds
     5.900 %
03/15/16
             107,692  
     
Comcast Corp New~Nt
Corporate Bonds
     7.050 %
03/15/33
             38,214  
     
Conocophillips Australia Fdg~Co~Gtd Nt
Corporate Bonds
     5.500 %
04/15/13
             613,562  
     
Conocophillips~Gtd Nt
Corporate Bonds
     4.600 %
01/15/15
             302,667  
     
Consolidated Nat Gas Co~Sr Nt
Corporate Bonds
     5.000 %
03/01/14
             26,197  
     
Cox Communications Inc New~Nt
Corporate Bonds
     4.625 %
01/15/10
             380,315  
     
Credit Suisse First Boston Mtg~Secs Corp~2001-Ckn5 Mtg Passthru Ctf
Corporate Bonds
     5.435 %
09/15/34
             1,054,067  
     
Credit Suisse First Boston N Y~Brh Medium Term Sr Nts Book~Tranche # Tr 00411
Corporate Bonds
     5.000 %
05/15/13
             479,894  
     
Credit Suisse Guernsey Brh~Cap Nt Tier 1 Fixed To Fltg
Corporate Bonds
     5.860 %
12/31/49
             261,000  
     
Cvs Corp~Sr Nt
Corporate Bonds
     5.750 %
08/15/11
             452,574  
     
Deutsche Bk Ag Global Medium~Term Nts Book Entry~Tranche # Tr 00182
Corporate Bonds
     5.000 %
10/12/10
             243,476  
     
Dominion Res Inc Va New~Sr Nt Ser B
Corporate Bonds
     5.950 %
06/15/35
             174,062  
     
Duke Energy Corp
Corporate Bonds
     5.050 %
09/15/19
             323,918  
     
Duke Energy Ohio Duk
Corporate Bonds
     2.100 %
06/15/13
             528,243  
     
Eksportfinans A S A Medium~Term Nts Book Entry~Tranche # Tr 00087
Corporate Bonds
     5.125 %
10/26/11
             771,132  
     
Eksportfinans A S A Medium~Term Nts Book Entry~Tranche # Tr 00119
Corporate Bonds
     5.000 %
02/14/12
             586,229  
     
Eksportfinans A S A Medium~Term Nts Book Entry~Tranche # Tr 00147
Corporate Bonds
     5.500 %
06/26/17
             450,079  
     
Electronic Data Sys Corp New~Sr Nt Ser B
Corporate Bonds
        
08/01/13
             508,493  
     
Enterprise Prods Oper Llc
Corporate Bonds
     5.250 %
01/31/20
             296,766  
     
European Invt Bk~5 Yr Global Bd
Corporate Bonds
     3.125 %
06/04/14
             485,568  
 
 
 
 
S-2
 
 
 
  (a)     (b) Identity of issue, borrower, lessor or similar party  (c) Description of investment including maturity date, rate of interest, collateral, par or maturity value     (d) Cost        (e) Current Value  
     
Finance For Danish Ind A/S Eur~Gtd Sr Medium Term Nts Book~Tranche # Tr 6
Corporate Bonds
     1.750 %
12/06/12
             829,030  
     
Finance For Danish Ind A/S Eur~Gtd Sr Medium Term Nts Book~Tranche # Tr 6
Corporate Bonds
     1.750 %
12/06/12
             936,951  
     
Florida Power & Light Co 1St M
Corporate Bonds
     5.950 %
02/01/38
             210,100  
     
Florida Power Corp 1St Mtg F/R
Corporate Bonds
     6.400 %
06/15/38
             109,179  
     
Florida Pwr & Lt Co
Corporate Bonds
     4.950 %
06/01/35
             45,678  
     
Florida Pwr Corp~1St Mtg Dtd 07/18/2001
Corporate Bonds
     6.650 %
07/15/11
             702,088  
     
Fort Irwin Ld Llc~Military Hsg Rev Bd 2005 Ser A~I
Corporate Bonds
     5.030 %
12/15/25
             42,316  
     
Fort Irwin Ld Llc~Military Hsg Rev Bd 2005 Ser A~Ii
Corporate Bonds
     5.300 %
12/15/35
             86,119  
     
Fpl Group Cap Inc
Corporate Bonds
     5.625 %
09/01/11
             228,702  
     
General Elec Cap Corp M/T/N
Corporate Bonds
     6.125 %
02/22/11
             390,979  
     
General Elec Cap Corp M/T/N~Term Nts Book Entry~Tranche # Tr 00551
Corporate Bonds
     6.000 %
06/15/12
             458,112  
     
General Elec Cap Corp M/T/N~Term Nts Book Entry~Tranche # Tr 00793
Corporate Bonds
     6.150 %
08/07/37
             75,546  
     
General Elec Cap Corp Medium~Term Nts Book Entry~Tranche # Tr 00779
Corporate Bonds
     5.000 %
04/10/12
             94,800  
     
General Elec Cap Corp Medium~Term Nts Book Entry~Tranche # Tr 00780
Corporate Bonds
        
04/10/12
             630,952  
     
General Elec Cap Corp Medium~Term Nts Book Entry~Tranche # Tr 00804
Corporate Bonds
     6.375 %
11/15/67
             260,250  
     
General Elec Cap Corp Medium~Term Sr Nts Book Entry Fdic~Tranche # Tr 00004
Corporate Bonds
     3.000 %
12/09/11
             3,999,582  
     
General Elec Cap Corp Medium~Term Sr Nts Book Entry Fdic~Tranche # Tr 00011
Corporate Bonds
     1.800 %
03/11/11
             1,309,608  
     
General Elec Cap Corp Medium~Term Sr Nts Book Entry Fdic~Tranche # Tr 00011
Corporate Bonds
     1.800 %
03/11/11
             1,385,454  
     
General Elec Cap Corp Medium~Term Sr Nts Book Entry Fdic~Tranche # Tr 00013
Corporate Bonds
     2.250 %
03/12/12
             2,500,718  
     
General Elec Cap Corp Medium~Term Sr Nts Book Entry Fdic~Tranche # Tr 00023
Corporate Bonds
     2.625 %
12/28/12
             712,887  
     
General Elec Cap Corp Medium~Term Sr Nts Book Entry Fdic~Tranche # Tr 00023
Corporate Bonds
     2.625 %
12/28/12
             1,298,473  
     
General Elec Cap Corp Medium~Term Sr Nts Book Entry Fdic~Tranche # Tr 00026
Corporate Bonds
     2.000 %
09/28/12
             1,061,367  
     
Glaxosmithkline Cap Inc~Gtd Nt
Corporate Bonds
     4.850 %
05/15/13
             322,035  
     
Goldman Sachs Cap Ii~Gtd Fixed To Fltg Normal Pps
Corporate Bonds
        
12/29/49
             151,125  
     
Goldman Sachs Grp Inc
Corporate Bonds
     5.250 %
10/15/13
             456,664  
     
Gte Corp
Corporate Bonds
     6.940 %
04/15/28
             25,647  
     
Halliburton Co~Sr Nt Conv
Corporate Bonds
     5.500 %
10/15/10
             156,104  
     
Japan Fin Corp~Gtd Bd
Corporate Bonds
     2.000 %
06/24/11
             581,935  
     
JPMorgan Chase & Co Fdic Gtd~Tlgp~Nt
Corporate Bonds
     2.200 %
06/15/12
             669,174  
     
JPMorgan Chase & Co~Dep Shs Repstg 1/10Th Pfd Ser~Formerly J P Morgan Chase And~Co To 07/20/2004
Corporate Bonds
        
04/29/49
             82,517  
     
JPMorgan Chase & Co~Nt~Formerly J P Morgan Chase &~Co To 07/20/2004
Corporate Bonds
     6.300 %
04/23/19
             275,020  
     
JPMorgan Chase Bk N A New York~N Y~Sub Bk Nt~Formerly JPMorgan Chase Bk New
Corporate Bonds
     6.000 %
07/05/17
             317,913  
     
JPMorgan Chase Cap Xxv~Cap Secs Ser Y
Corporate Bonds
     6.800 %
10/01/37
             919,043  
 
 
 
 
S-3
 
 
 
  (a)     (b) Identity of issue, borrower, lessor or similar party (c) Description of investment including maturity date, rate of interest, collateral, par or maturity value     (d) Cost        (e) Current Value  
     
Kellogg Co
Corporate Bonds
     4.450 %
05/30/16
             489,141  
     
Kraft Foods Inc~Nt
Corporate Bonds
     6.500 %
08/11/17
             271,265  
     
Kraft Foods Inc~Nt
Corporate Bonds
     6.125 %
02/01/18
             446,905  
     
Kreditanstalt Fur~Wiederaufbau Kfw~Global Bd
Corporate Bonds
     2.750 %
10/21/14
             1,285,388  
     
Kreditanstalt Fur~Wiederaufbau Kfw~Global Nt
Corporate Bonds
     3.500 %
03/10/14
             816,998  
     
Kreditanstalt Fur~Wiederaufbau Kfw~Global Nt
Corporate Bonds
     3.500 %
03/10/14
             1,284,588  
     
Landwirtschaftliche Rentenbank~Nt
Corporate Bonds
     4.125 %
07/15/13
             702,905  
     
Lehman Brothers Hldgs Inc Dflt~Lehman Brothers Hldgs Inc~Medium Term Nt Ser I
Corporate Bonds
     6.750 %
12/28/17
             113  
     
Lincoln Natl Corp Ind~Cap Secs
Corporate Bonds
     6.050 %
04/20/67
             77,500  
     
Metlife Inc~Jr Sub Deb Fxd To Fltg Rate
Corporate Bonds
     6.400 %
12/15/36
             227,500  
     
Metropolitan Life Global Fdg I~Medium Term Nts Book Entry~Tranche # Tr 00044
Corporate Bonds
        
06/10/11
             841,492  
     
Midamerican Energy Hldgs Co~New~Sr Bd
Corporate Bonds
     5.950 %
05/15/37
             175,196  
     
Midamerican Energy Hldgs Co~New~Sr Bd
Corporate Bonds
     6.500 %
09/15/37
             80,654  
     
Morgan Stanley
Corporate Bonds
     4.200 %
11/20/14
             890,623  
     
Morgan Stanley Co
Corporate Bonds
     6.750 %
04/15/11
             105,948  
     
Morgan Stanley Fdic Gtd Tlgp~Gtd Nt
Corporate Bonds
     2.250 %
03/13/12
             1,020,849  
     
Morgan Stanley Fdic Gtd Tlgp~Gtd Nt
Corporate Bonds
     2.250 %
03/13/12
             1,310,343  
     
Morgan Stanley~For Equity Issues See 61746S~Sr Global Medium Term Nt Ser F~Formerly Morgan Stanley Dean
Corporate Bonds
        
01/09/12
             711,850  
     
Morgan Stanley~Global Medium Term Nt Ser F
Corporate Bonds
     5.625 %
09/23/19
             347,522  
     
New York Life Global Fdg Restr~Medium Term Nts Book Entry~Tranche # Tr 00009
Corporate Bonds
     5.250 %
10/16/12
             568,393  
     
New York Life Global Fdg Restr~Medium Term Nts Book Entry~Tranche # Tr 00009
Corporate Bonds
     5.250 %
10/16/12
             268,110  
     
News Amer Hldgs Inc Sr Deb
Corporate Bonds
     7.750 %
01/20/24
             41,095  
     
News Amer Hldgs Inc~Deb
Corporate Bonds
     8.500 %
02/23/25
             58,897  
     
News Amer Inc~Bd
Corporate Bonds
     6.200 %
12/15/34
             15,075  
     
Niagara Mohawk Power Corp Gen
Corporate Bonds
     3.553 %
10/01/14
             274,159  
     
Novartis Cap Corp~Gtd Nt
Corporate Bonds
     4.125 %
02/10/14
             583,405  
     
Oracle Corp
Corporate Bonds
     4.950 %
04/15/13
             219,977  
     
Pepsiamericas Inc
Corporate Bonds
     4.375 %
02/15/14
             582,635  
     
Petrobas Intl Fin Co~Global Nt
Corporate Bonds
     5.875 %
03/01/18
             30,252  
     
Petrobas Intl Fin Co~Gtd Global Nt
Corporate Bonds
     5.750 %
01/20/20
             747,708  
     
Pfizer Inc~Nt
Corporate Bonds
     7.200 %
03/15/39
             305,485  
     
Philip Morris Intl Inc~Nt
Corporate Bonds
     4.875 %
05/16/13
             897,311  
     
Philip Morris Intl Inc~Nt Dtd 11/2008
Corporate Bonds
     6.875 %
03/17/14
             226,625  
     
Rabobank Nederland Global~Medium Term Nts Book Entry~Tranche # Tr 00043
Corporate Bonds
     2.650 %
08/17/12
             1,390,785  
     
Schering Plough Corp
Corporate Bonds
     6.550 %
09/15/37
             283,928  
     
Scottish Pwr Plc~Nt Dtd 03/22/2005
Corporate Bonds
     4.910 %
03/15/10
             226,865  
     
Shell Intl Fin B V
Corporate Bonds
     4.000 %
03/21/14
             678,295  
     
Slm Corp Medium Term Nts Book~Entry~Tranche # Tr 00086
Corporate Bonds
     4.500 %
07/26/10
             219,212  
     
Slm Corp Medium Term Nts Book~Entry~Tranche # Tr 00102
Corporate Bonds
        
01/27/14
             123,425  
     
Stanford University Ben Tr
Corporate Bonds
     3.625 %
05/01/14
             231,480  
     
Stanford University Ben Tr
Corporate Bonds
     4.250 %
05/01/16
             205,684  
     
Suncorp Metway Ltd Sr Medium~Term Nts Book Entry 144A~Tranche # Tr 00003
Corporate Bonds
        
12/17/10
             1,212,674  
     
Svenska Handelsbanken Ab~Medium Term Sr Nts Book Entry~Tranche # Tr 00002
Corporate Bonds
     2.875 %
09/14/12
             809,967  
     
Svenska Handelsbanken Ab~Medium Term Sr Nts Book Entry~Tranche # Tr 00002
Corporate Bonds
     2.875 %
09/14/12
             774,751  
 
 
 
 
S-4
 
 
 
  (a)    (b) Identity of issue, borrower, lessor or similar party (c) Description of investment including maturity date, rate of interest, collateral, par or maturity value     (d) Cost        (e) Current Value  
     
Tci Communications Inc Deb
Corporate Bonds
     7.125 %
02/15/28
             119,457  
     
Teachers Ins & Annuity Assn~Amer~Surplus Nt
Corporate Bonds
     6.850 %
12/16/39
             222,254  
     
Telefonica Emisiones S A U~Gtd Sr Nt
Corporate Bonds
     4.949 %
01/15/15
             374,129  
     
Telefonica Emisiones S A U~Sr Nt
Corporate Bonds
     5.984 %
06/20/11
             438,925  
     
Telefonica Europe B V~U S Nt
Corporate Bonds
     7.750 %
09/15/10
             376,600  
     
Time Warner Cable Inc~Nt
Corporate Bonds
     6.200 %
07/01/13
             400,938  
     
Time Warner Companies Inc~Deb
Corporate Bonds
     7.570 %
02/01/24
             238,905  
     
Travelers Cos Inc~Jr Sub Deb Fixed / Fltg Rate
Corporate Bonds
     6.250 %
03/15/67
             159,423  
     
U S Bancorp Medium Term Nts-~Book Entry~Tranche # Tr 00158
Corporate Bonds
        
05/06/10
             981,499  
     
United Parcel Svc Inc~Sr Nt
Corporate Bonds
     4.500 %
01/15/13
             760,188  
     
United Parcel Svc Inc~Sr Nt
Corporate Bonds
     6.200 %
01/15/38
             271,617  
     
Unitedhealth Group Inc~Unitedhealth Group Inc~Nt
Corporate Bonds
     5.250 %
03/15/11
             626,907  
     
Verizon Global Fdg Corp
Corporate Bonds
     6.875 %
06/15/12
             232,495  
     
Verizon Global Fdg Corp
Corporate Bonds
     7.375 %
09/01/12
             535,430  
     
Verizon Md Inc~Deb Ser B
Corporate Bonds
     5.125 %
06/15/33
             71,205  
     
Verizon Wireless Cap Llc~Nt
Corporate Bonds
     8.500 %
11/15/18
             868,266  
     
Vodafone Airtouch Plc~Nt~Formerly Vodafone Group Plc To~06/28/1999
Corporate Bonds
     7.750 %
02/15/10
             75,573  
     
Vodafone Group Plc New~Vodafone Group Plc New~Nt
Corporate Bonds
     4.150 %
06/10/14
             771,585  
     
Vodafone Group Plc New~Vodafone Group Plc New~Nt Fltg
Corporate Bonds
        
02/27/12
             383,595  
     
Wachovia Corp New~Sr Hldg Co Floating Rt Nt
Corporate Bonds
        
03/15/11
             214,430  
     
Yale Univ Medium Term Nts Book~Entry~Tranche # Tr 00002
Corporate Bonds
     2.900 %
10/15/14
             637,622  
     
Cox Communications Inc New Restr
Corporate Bonds
     8.375 %
03/01/39
             249,036  
     
Roche Hldgs Inc Restr~Gtd Nt
Corporate Bonds
     6.000 %
03/01/19
             357,126  
           
Total Corporate Bonds
       85,979,997  
                                   
     
Export Dev Cda~Usd Bd
Gov't Agencies bond
     2.375 %
03/19/12
             712,194  
     
Federal Home Ln Bk Chicago~Sub Nt
Gov't Agencies bond
     5.625 %
06/13/16
             277,234  
     
Federal Home Ln Bks Deb
Gov't Agencies bond
     5.250 %
09/12/14
             419,663  
     
Federal Home Ln Bks Deb
Gov't Agencies bond
     5.375 %
06/13/14
             421,919  
     
Federal Home Ln Bks Deb~Cons Bd Dtd 05/04/2004
Gov't Agencies bond
     5.375 %
05/15/19
             1,573,359  
     
Federal Home Ln Mtg Corp~Reference Nts Fed Book Entry~Preassign 00025
Gov't Agencies bond
     5.125 %
11/17/17
             892,775  
     
Federal Home Ln Mtg Corp~Reference Nts Fed Book Entry~Preassign 00052
Gov't Agencies bond
     3.000 %
07/28/14
             1,464,417  
     
Federal Natl Mtg Assn
Gov't Agencies bond
     6.250 %
02/01/11
             1,103,099  
     
Federal Natl Mtg Assn
Gov't Agencies bond
     5.250 %
08/01/12
             976,424  
     
Federal Natl Mtg Assn
Gov't Agencies bond
     3.500 %
08/25/14
             387,767  
     
Federal Natl Mtg Assn
Gov't Agencies bond
     5.250 %
08/01/12
             693,635  
     
Federal Natl Mtg Assn
Gov't Agencies bond
     2.500 %
05/15/14
             1,696,813  
     
Federal Natl Mtg Assn
Gov't Agencies bond
     3.500 %
08/25/14
             1,450,350  
     
Federal Natl Mtg Assn
Gov't Agencies bond
     3.000 %
09/16/14
             992,556  
     
Federal Natl Mtg Assn M/T/N
Gov't Agencies bond
     2.000 %
02/11/11
             866,622  
     
Federal Natl Mtg Assn~Preassign 00460~Issues Dated 4/1/1996 & After~Including Callable Issues With
Gov't Agencies bond
     2.750 %
02/05/14
             1,213,500  
     
Resolution Fdg Corp Fed Book~ Entry Cpn Strips~Generic Int Pmt
Gov't Agencies bond
        
10/15/18
             51,094  
     
Resolution Fdg Corp Fed Book~ Entry Cpn Strips~Generic Int Pmt~Bd
Gov't Agencies bond
        
07/15/18
             51,880  
       
Total Government Agency Bonds
       15,245,301  
                                   
 
 
 
 
S-5
 
 
 
  (a)    (b) Identity of issue, borrower, lessor or similar party  (c) Description of investment including maturity date, rate of interest, collateral, par or maturity value     (d) Cost        (e) Current Value  
     
United States Treas Nts~Dtd 00276
Government Bond
     0.750 %
11/30/11
             14,211,731  
     
United States Treas Nts~Dtd 00266
Government Bond
     1.125 %
12/15/12
             3,601,367  
     
United States Treas Nts~Dtd 00269
Government Bond
     2.625 %
12/31/14
             478,613  
     
U S Treasury Notes Trsy Infl Index
Government Bond
        
1/15/10
             1,389,264  
     
US Treasury Notes Trsy Infl Idx01/15/10~Collateral Held @ Harris Trust Under~Real Cusip 9128275W8
Government Bond
        
1/15/10
             170,199  
     
U S Treasury Bonds
Government Bond
     7.250 %
8/15/22
             1,418,538  
     
U S Treasury Bonds
Government Bond
     6.750 %
8/15/26
             378,516  
     
US Treasury Bd Stripped~ Stripped Prin Pmt~035
Government Bond
        
11/15/27
             1,244,562  
     
United States Treas Bds~Dtd 00209
Government Bond
     3.500 %
2/15/39
             270,291  
     
United States Treas Bds~Dtd 00210
Government Bond
     4.250 %
5/15/39
             1,702,697  
     
U S Treasury Bonds
Government Bond
     4.500 %
8/15/39
             3,264,328  
     
United States Treas Nts~Dtd 00263
Government Bond
     3.375 %
11/15/19
             7,791,188  
     
U S Treasury Bonds
Government Bond
     4.375 %
11/15/39
             2,134,528  
     
United States Treas Nts~Dtd 00269
Government Bond
     2.625 %
12/31/14
             2,253,469  
     
U S Treasury Bills
Government Bond
        
5/20/10
             599,670  
     
U S Treasury Bills 05/20/2010~Brokers Collateral Held @ Bank  Real~Cusip 912795Ur0
Government Bond
        
5/20/10
             (599,671 )
           
Total Government Bonds
       40,309,290  
                                   
     
California St~Taxable-Var Purp-Build Amer~Bds-Direct Pmt To Issuer~For Previous Issues See 13062T
State and Local Oblig.
     7.300 %
10/1/39
             287,267  
     
Dallas Tex Area Rapid Tran Sal
State and Local Oblig.
     5.999 %
12/1/44
             209,924  
     
New York St Urban Dev Corp Rev~Taxable-St Pers Income Tax~Ser D~For Issues Dtd Prior To
State and Local Oblig.
     1.315 %
12/15/11
             476,482  
     
Oklahoma Agric & Mechanical~Colleges Rev~Taxable-Bd Antic Nts~Okla St Univ
State and Local Oblig.
     2.550 %
8/1/11
             401,584  
     
Port Auth N Y & N J
State and Local Oblig.
     6.040 %
12/1/29
             165,013  
     
Texas St
State and Local Oblig.
     5.517 %
4/1/39
             292,884  
           
Total State and Local Obligations
       1,833,154  
                                   
     
Ahmat Amern Home Mtg Corp Ser~2006-6~Mtg Bkd Passthru Ctf Cl A1-A~Cmo A1A Ser 6
Asset Backed Security
     0.380 %
10/25/37
             58,050  
     
Ally Auto Receivables Tr~2009-A~Asset Backed Nt Cl A-2 Talf
Asset Backed Security
     1.320 %
3/15/12
             1,037,236  
     
Ally Auto Receivables Trust
Asset Backed Security
     1.210 %
6/15/12
             1,201,214  
     
Alternative Ln Tr 2006-Oa10~Mtg Passthru Ctf Cl 1-A-1~1-A-1-Var Rate~062906
Asset Backed Security
     1.410 %
8/25/46
             65,423  
     
American Express Issuance Tr~2008-2 Asset Backed Ctf Cl A Ser 2
Asset Backed Security
     4.020 %
1/18/11
             1,084,612  
     
American Home Mtg Assets Tr~2005-1 Mtg Passthru Ctf Cl 3A11~Adj Rate
Asset Backed Security
     0.453 %
11/25/35
             142,878  
     
American Home Mtg Invt Tr *Pp*~2005-1 Mtg Bkd Nt Cl Vi-A  144A
Asset Backed Security
     5.268 %
6/25/45
             126,485  
     
Ameriquest Mtg Secs Inc~Ameriquest Mtg Secs Inc~A-1-Var Rate~110104
Asset Backed Security
     0.482 %
11/25/34
             134,526  
     
Arran Residential Mtgs Fdg No Restr~3 Plc~Nt Cl A1B~144A
Asset Backed Security
     0.325 %
9/16/36
             138,476  
     
Ba Cr Card Tr~2006-12 Nt Cl A Fltg~Cmo A12 Ser A12
Asset Backed Security
     0.253 %
3/15/14
             984,306  
     
Banc Amer Alternative Ln Tr~2004-5 Mtg Passthru Ctf Cl~4-A-1-Fixed Rt~052504
Asset Backed Security
     5.000 %
6/25/19
             98,243  
     
Banc Amer Alternative Ln Tr~2004-6 Mtg Passthru Ctf Cl
Asset Backed Security
     5.000 %
7/25/19
             124,289  
     
Banc Amer Coml Mtg Inc~2002-Pb2 Coml Mtg Passthru Ctf
Asset Backed Security
     6.085 %
6/11/35
             109,011  
     
Banc Amer Coml Mtg Inc~2002-Pb2 Coml Mtg Passthru Ctf~Cl-A4
Asset Backed Security
     6.186 %
6/11/35
             1,136,372  
     
Banc Amer Coml Mtg Inc~2002-Pb2 Coml Mtg Passthru Ctf~Cl-A4
Asset Backed Security
     6.186 %
6/11/35
             466,070  
 
 
S-6
 
 
 
  (a)    (b) Identity of issue, borrower, lessor or similar party (c) Description of investment including maturity date, rate of interest, collateral, par or maturity value     (d) Cost        (e) Current Value  
      Banc Amer Coml Mtg Inc~2003-1 Coml Mtg Passthru Ctf Asset Backed Security     3.878 %  9/11/36              380,496  
     
Banc Amer Coml Mtg Inc~2004-6 Coml Mtg Passthru Ctf Cl-A3
Asset Backed Security
     4.512 %
12/10/42
             441,081  
     
Banc Amer Coml Mtg Inc~Ser 2001-1 Cl-A2
Asset Backed Security
     6.503 %
4/15/36
             1,036,933  
     
Banc Amer Coml Mtg Tr 2007-2~Mtg Passthru Ctf Cl A-2~Cmo A2 Ser 2
Asset Backed Security
     5.634 %
4/10/49
             1,072,905  
     
Bear Stearns Alt-A Tr~2004-13 Mtg Passthru Ctf Cl-A1
Asset Backed Security
     0.877 %
11/25/34
             145,736  
     
Bear Stearns Arm Tr~2004-7 Mtg Passthru Ctf Cl-4A~Rate
Asset Backed Security
     3.863 %
10/25/34
             177,689  
     
Bear Stearns Coml Mtg Secs Inc~Coml Mtg Passthru Ctf Cl A-2~Ser 2001-Top2
Asset Backed Security
     6.480 %
2/15/35
             1,014,274  
     
Cd 2007-Cd4 Coml Mtg Tr~Mtg Passthru Ctf Cl A-4 Var
Asset Backed Security
     5.322 %
12/11/49
             48,813  
     
Cd 2007-Cd5 Mtg Tr~Coml Mtg Passthru Ctf Cl A-4
Asset Backed Security
     5.886 %
11/15/44
             133,225  
     
Centerpoint Energy Transition~Bd Co Ii Llc~Sr Secd Nt Transition Bd Ser A
Asset Backed Security
     4.970 %
8/1/14
             1,077,634  
     
Chase Issuance Tr~Ser A7 Cl A7
Asset Backed Security
     0.683 %
9/17/12
             270,322  
     
Chase Issuance Tr~Ser A7 Cl A7
Asset Backed Security
     0.683 %
9/17/12
             1,396,665  
     
Chrysler Finl Auto~Securitization Tr 2009-A~Asset Backed Nt~Talf
Asset Backed Security
     2.820 %
1/15/16
             786,653  
     
Citigroup Mtg Ln Tr 2006-Ar5~Mtg Passthru Ctf Cl 1-A5A~1-A5A-Var Rate~062906
Asset Backed Security
     5.808 %
7/25/36
             782,225  
     
Citigroup Mtg Ln Tr 2007-Amc3~Asset Backed Ctf Cl A2A~Cmo A2A2 Ser Amc3
Asset Backed Security
     0.308 %
3/25/37
             81,402  
     
Citigroup Mtg Ln Tr~2005-4 Mtg Passthru Ctf Cl~A-Var Rate~082405
Asset Backed Security
     5.341 %
8/25/35
             373,430  
     
Citigroup Mtg Ln Tr~2006-Ar1 Mtg Bkd Nt Cl I-A1~Var Rate
Asset Backed Security
     4.900 %
2/25/36
             521,522  
     
Cnh Equip Tr 2007-B~Nt Cl A-3A
Asset Backed Security
     5.400 %
10/17/11
             225,008  
     
Cobalt Cmbs Coml Mtg Tr~2006-C1~Mtg Passthru Ctf Cl A-2~Cmo A2 Ser C1
Asset Backed Security
     5.174 %
8/15/48
             728,801  
     
Comm 2000-C1~Coml Mtg Passthru Ctf Cl A-2
Asset Backed Security
     7.416 %
4/15/10
             299,788  
     
Comm 2005-C6~Coml Mtg Passthru Ctf Cl A-2~A-2-Fixed Rt~080505
Asset Backed Security
     4.999 %
6/10/44
             550,653  
     
Credit Suisse First Boston Mtg~Secs Corp~2002-Ckn2 Mtg Passthru Ctf
Asset Backed Security
     6.133 %
4/15/37
             926,046  
     
Credit Suisse First Boston Mtg~Secs Corp~2002-Cks4 Coml Mtg Passthru
Asset Backed Security
     5.183 %
11/15/36
             1,033,208  
     
Credit Suisse First Boston Mtg~Secs Corp~2002-Cks4 Coml Mtg Passthru
Asset Backed Security
     5.183 %
11/15/36
             552,766  
     
Credit Suisse First Boston Mtg~Secs Corp~2002-Cp3 Coml Mtg Passthru Ctf
Asset Backed Security
     5.603 %
7/15/35
             512,789  
     
Credit Suisse First Boston Mtg~Secs Corp~A-2-Fixed Rt~081005
Asset Backed Security
     5.017 %
8/15/38
             1,054,353  
     
Credit Suisse First Boston Mtg~Secs Corp~A-2-Fixed Rt~081005
Asset Backed Security
     5.017 %
8/15/38
             758,130  
     
Credit Suisse First Boston Mtg~Secs Corp~A-3-Fixed Rt~112003
Asset Backed Security
     4.429 %
12/15/36
             386,298  
     
Csmc Mortgage-Backed Tr Ser~2006-8~3-A-1-Fixed Rt~092906
Asset Backed Security
     6.000 %
10/25/21
             108,805  
     
Csmc Ser 2009-13R~Passthru Ctf Cl 1-A-1
Asset Backed Security
     6.000 %
9/26/37
             824,154  
     
Cwabs Asset Backed Ctfs Tr~2007-12~Asset Backed Ctf Cl 2-A-1~Fltg Rate
  
Asset Backed Security
     0.525 %   
5/25/29
             189,388   
 
 
 
S-7
 
 
 
  (a)    (b) Identity of Issue, borrower, lessor or similar party (c) Description of investment including maturity date, rate of interest, collateral, par or maturity value     (d) Cost        (e) Current Value   
     
Cwabs Asset Backed Ctfs Tr~2007-12~Asset Backed Ctf Cl 2-A-1~Fltg Rate
Asset Backed Security
     0.525 %
5/25/29
             276,096  
     
Cwabs Asset-Backed Ctfs Tr Ser~2006-13   Cl 3Av2 Ser 13~3-Av-2-Var Rate~072706
Asset Backed Security
     0.344 %
1/25/37
             406,280  
     
Cwabs Asset-Backed Ctfs Tr~2007-6~Asset Bkd Ctf Cl 2-A-1 Fltg
Asset Backed Security
     0.299 %
9/25/37
             596,523  
     
Cwalt Alternative Ln Tr Ser~2006-Oa21~Mtg Passthru Ctf Cl A-1 Fltg~Cmo A1 Sr Oa21
Asset Backed Security
     0.410 %
3/20/47
             190,351  
     
Cwalt Inc~2005-20Cb Mtg Passthru Ctf Cl-2A3
Asset Backed Security
     5.500 %
7/25/35
             263,303  
     
Deutsche Alt-A Secs Mtg Ln Tr~Ser 2006 Ar3~Mtg Passthru Ctf Cl A-3 Fltg~Cmo A3 Ser Ar3
Asset Backed Security
     0.290 %
8/25/36
             92,467  
     
Deutsche Alt-A Secs Mtg Ln Tr~Ser 2006-Oa1~A-1-Var Rate~122806
Asset Backed Security
     0.390 %
2/25/47
             20,180  
     
Dlj Coml Mtg Corp~Coml Mtg Passthru Ctf 00-Ckp1
Asset Backed Security
     7.180 %
11/10/33
             594,079  
     
Dlj Coml Mtg Corp~Coml Mtg Passthru Ctf 00-Ckp1
Asset Backed Security
     7.180 %
11/10/33
             363,436  
     
Dt Auto Owner Tr 2007-A Step~Nt Cl A-3~A-3 144A-Fixed Rt~061307
Asset Backed Security
     5.603 %
3/15/13
             393,981  
     
First Un Natl Bk Coml Mtg Tr~First Un Natl Bk Coml Mtg Tr~2001-C2 Coml Mtg Passthru Ctf
Asset Backed Security
     6.663 %
1/12/43
             1,342,024  
     
First Un Natl Bk Coml Mtg Tr~First Un Natl Bk Coml Mtg Tr~2002-C1 Mtg Passthru Ctf Cl
Asset Backed Security
     6.141 %
2/12/34
             478,510  
     
Ford Cr Auto Owner Tr 2006 C~Nt Cl A 4B~Cmo A4B Ser C
Asset Backed Security
     0.273 %
2/15/12
             987,402  
     
Ford Cr Auto Owner Tr 2006-B~Nt Cl A-4~Cmo A4 Ser B
Asset Backed Security
     5.250 %
9/15/11
             1,118,130  
     
Ford Cr Auto Owner Tr 2007-B~Asset Backed Nt Cl A-3A
Asset Backed Security
     5.150 %
11/15/11
             941,959  
     
Ford Cr Auto Owner Tr 2008-A~Asset Backed Nt Cl A-3A
Asset Backed Security
     3.960 %
4/15/12
             1,275,438  
     
Ford Cr Auto Owner Tr 2008-A~Asset Backed Nt Cl A-3A
Asset Backed Security
     3.960 %
4/15/12
             780,881  
     
Ford Cr Auto Owner Tr 2009-A~Asset Backed Nt Cl A-2B
Asset Backed Security
     2.233 %
8/15/11
             798,385  
     
Ford Cr Auto Owner Tr 2009-B~Asset Bkd Nt Cl A-3~Talf~Ser B Cl A3
Asset Backed Security
     3.089 %
8/15/13
             662,397  
     
Ford Cr Auto Owner Tr~2006-A Asset Bkd Nt A-4
Asset Backed Security
     5.070 %
12/15/10
             135,180  
     
Gmac Coml Mtg Sec Inc~2001-C2 Mtg Passthru Ctf
Asset Backed Security
     6.700 %
4/15/34
             1,001,047  
     
Greenwich Cap Coml Fdg Corp~2002-C1 Coml Mtg Passthru Ctf
Asset Backed Security
     4.112 %
1/11/17
             262,804  
     
Greenwich Cap Coml Fdg Corp~2005-Gg3 Coml Mtg Passthru~Cl-A2
Asset Backed Security
     4.305 %
8/10/42
             1,340,471  
     
Gs Mtg Secs Corp *Pp*~2005-Ar6 Mtg Passthru Ctf Cl-1A1
Asset Backed Security
     3.170 %
9/25/35
             482,293  
     
Gs Mtg Secs Corp Ii V/R~Coml Mtg Passthru 2003-C1 Cl
Asset Backed Security
     0.832 %
1/10/40
             14,966  
     
Gs Mtg Secs Corp~2004-9 Mtg Passthru Ctf Cl
Asset Backed Security
     3.691 %
8/25/34
             219,749  
     
Gs Mtg Secs Corp~2004-9 Mtg Passthru Ctf Cl~4A1-Var Rate~072804
Asset Backed Security
     3.259 %
8/25/34
             375,712  
     
Gs Mtg Secs Corp~Gsr 2005-Ar4 Mtg Passthru Ctf~6A1-Var Rate~062805
Asset Backed Security
     5.250 %
7/25/35
             308,201  
     
Gs Mtg Secs Tr 2007 Gg10~Mtg Pass Thru Ctf Cl A-2
Asset Backed Security
        
8/10/45
             732,325  
 
 
 
S-8
 
 
 
  (a)    (b) Identity of issue, borrower, lessor or similar party (c) Description of investment including maturity date, rate of interest, collateral, par or maturity value     (d) Cost        (e) Current Value   
     
Harborview Mtg Ln Tr 2006-9~Mtg Passthru Ctf Cl 2A-1A
Asset Backed Security
     0.414 %
11/19/36
             590,979  
     
Harborview Mtg Ln Tr 2006-9~Mtg Passthru Ctf Cl 2A-1A
Asset Backed Security
   &nbrp; 0.414 %
11/19/36
             138,511  
     
Harley Davidson Motorcycle Tr~2009-3~Contract Backed Nt Cl
Asset Backed Security
     1.740 %
9/16/13
             734,506  
     
Home Equity Asset Tr 2007-2~Home Equity Passthr Ctf 2-A-1~2-A-1-Var Rate~033007
Asset Backed Security
     0.308 %
7/25/37
             356,625  
     
Homebanc Mtg Tr~2005-4 Mtg Passthru Ctf Cl A-1~Cmo/Ser 4 Cl A1
Asset Backed Security
     0.453 %
10/25/35
             151,618  
     
Honda Auto Receivables 2009-2~Owner Tr~Asset Backed Nt Cl A-3~Ser 2 Cl A3
Asset Backed Security
     3.100 %
7/15/11
             785,600  
     
Ifc Sbap 97-1A  V/R
Asset Backed Security
        
1/15/24
             91,996  
     
J P Morgan Chase Coml Mtg Secs~Corp Ser 2001-C1 Cl-A3
Asset Backed Security
     5.857 %
10/12/35
             478,935  
     
J P Morgan Chase Coml Mtg Secs~Corp~2001-Cibc2 Coml Mtg Passthru
Asset Backed Security
     6.429 %
4/15/35
             359,316  
     
J P Morgan Mtg Acquisition Tr~2007-Ch5~Asset Backed Ctf Cl A-2
Asset Backed Security
     0.254 %
11/1/29
             588,819  
     
J P Morgan Mtg Acquisition Tr~2007-Ch5~Asset Backed Ctf Cl A-2
Asset Backed Security
     0.254 %
11/1/29
             405,227  
     
J P Morgan Mtg Tr 2006-S2~Mtg Passthru Ctf Cl 2-A-2~2-A-2-Fixed Rt~062706
Asset Backed Security
     5.875 %
7/25/36
             47,824  
     
J P Morgan Mtg Tr 2007-A1~Mtg Pass Thru Ctf Cl 2-A-1~Cmo 2A1 Ser A1
Asset Backed Security
     3.568 %
7/25/35
             765,481  
     
J P Morgan Mtg Tr 2007-S1~Mtg Passthru Ctf Cl 1-A-2~1-A-2-Fixed Rt~032807
Asset Backed Security
     5.500 %
3/25/22
             47,604  
     
Lb-UBS Coml Mtg Tr
Asset Backed Security
     6.365 %
12/15/28
             663,111  
     
Lb-UBS Coml Mtg Tr
Asset Backed Security
     1.358 %
4/15/37
             22,033  
     
Lb-UBS Coml Mtg Tr
Asset Backed Security
     7.370 %
8/15/26
             173,564  
     
Lb-UBS Coml Mtg Tr 2006-C6~Coml Mtg Passthru Ctf Cl A-1
Asset Backed Security
     5.230 %
9/15/39
             910,391  
     
Lb-UBS Coml Mtg Tr 2006-C7~Coml Mtg Passthru Ctf Cl A-3~Cmo A3 Ser C7
Asset Backed Security
     5.347 %
11/15/38
             476,688  
     
Lb-UBS Coml Mtg Tr~Ser 2004-C4 Cl-A2
Asset Backed Security
     4.567 %
6/15/29
             530,890  
     
Lb-UBS Westfield Tr Restr~Coml Mtg Passthru Ctf 2001-Wm~A-1 144A-Fixed Rt~080201
Asset Backed Security
     6.155 %
7/14/16
             548,915  
     
Luminent Mtg Tr~2005-1 Mtg Bkd Nt Cl A-1~Cmo/ Ser 2005-1 C L A1
Asset Backed Security
     0.444 %
11/25/35
             346,431  
     
Mastr Alternative Ln Tr~2004-4 Mtg Passthru Ctf Cl-1A1
Asset Backed Security
     5.500 %
5/25/34
             146,989  
     
Merrill Lynch Mtg Tr 2007-C1~Coml Mtg Passthru Ctf Cl A-Sb~A-Sb-Var Rate~073107
Asset Backed Security
     6.022 %
6/12/50
             979,652  
     
Morgan J P Coml Mtg Fin Corp~Mtg Passthru Ctf 2000-C10 Cl
Asset Backed Security
     7.371 %
8/15/32
             67,394  
     
Morgan Stanley Abs Cap I Inc~Ser 2007-He2~Mtg Passthru Ctf Cl A-2A Fltg
Asset Backed Security
     0.245 %
1/25/37
             188,841  
 
 
 
 
S-9
 
 
 
  (a)    (b) Identity of issue, borrower, lessor or similar party  (c) Description of investment including maturity date, rate of interest, collateral, par or maturity value     (d) Cost        (e) Current Value   
     
Morgan Stanley Abs Cap I Inc~Tr 2007-He6~Mtg Passthru Ctf Cl A-1~Cmo A1 Ser He6
Asset Backed Security
     0.263 %
5/25/37
             391,485  
     
Morgan Stanley Abs Cap I Inc~Tr 2007-Nc2~Mtg Passthru Ctf Cl A-2A~Cmo A2A Ser Nc2
Asset Backed Security
     0.308 %
2/25/37
             355,113  
     
Morgan Stanley Cap I Tr~2007-Hq13~A-1-Fixed Rt~122007
Asset Backed Security
     5.357 %
12/15/44
             1,047,541  
     
Morgan Stanley Cap Tr I~2007-Hq12~Coml Mtg Passthru Ctf Cl A-2
Asset Backed Security
     5.812 %
4/12/49
             75,746  
     
Nissan Auto Receivables 2008-A~Owner Tr~Asset Backed Ctf Cl A-3
Asset Backed Security
     3.890 %
7/15/10
             526,444  
     
Nissan Auto Receivables 2008-B~Owner Tr~Asset Backed Nt Cl A-2
Asset Backed Security
     3.800 %
10/15/10
             68,645  
     
Nissan Auto Receivables 2009-1~Owner Tr~Asset Backed Nt Cl A-2
Asset Backed Security
     3.920 %
4/15/11
             918,907  
     
Option One Mtg Ln Tr 2007-3~Mtg Pass Thru Ctf Cl Ii-A-1~Ii-A-1-Var Rate~040207
Asset Backed Security
     0.308 %
4/25/37
             304,715  
     
Pendeford Master Issuer Plc Restr~Usd Mtg Bkd Nt Ser 3 Cl A   144A~Fltg Rate
Asset Backed Security
     0.558 %
2/12/16
             448,994  
     
Permanent Master Issuer Plc~2007-1 Usd Mtg Bkd Nt Ser 2 Cl
Asset Backed Security
     1.181 %
1/15/16
             362,219  
     
Pg&E Energy Recovery Fdg Llc~2005-1 Energy Recovery Bd A-4
Asset Backed Security
     4.370 %
6/25/14
             1,031,164  
     
Prudential Secs Secd Fing Corp~Coml Mtg Pasthru Ctf 2000-Key1~D-Var Rate~062300
Asset Backed Security
     8.026 %
5/17/32
             961,906  
     
Prudential Secs Secd Fing Corp~Coml Mtg Pasthru Ctf 2000-Key1~Fltg Rate~Cl A-2
Asset Backed Security
     7.727 %
2/15/10
             189,162  
     
Salomon Bros Coml Mtg Tr~Coml Mtg Passthru Ctf 2000-C3~Cl A2
Asset Backed Security
     6.592 %
12/18/33
             294,176  
     
Salomon Bros Mtg Secs Vii Inc~2001-C2 Coml Mtg Passthru Ctf
Asset Backed Security
     6.499 %
10/13/11
             415,802  
     
Securitized Asset Backed~Receivables Llc Tr 2007-Nc2~Mtg Pass Thru Ctf Cl A-2A
Asset Backed Security
     0.245 %
1/25/37
             189,307  
     
Slm Student Ln Tr 2008-5~Cl A2 Ser 5
Asset Backed Security
     1.367 %
10/25/16
             1,690,491  
     
Slm Student Ln Tr 2008-5~Cl A2 Ser 5
Asset Backed Security
     1.367 %
10/25/16
             1,269,138  
     
Slm Student Ln Tr 2008-5~Cl A4 Ser 5
Asset Backed Security
     1.961 %
7/25/23
             888,325  
     
Slm Student Ln Tr 2008-5~Student Ln Bkd Bd Cl A-3~Fltg Rate
Asset Backed Security
     1.565 %
1/25/18
             1,721,968  
     
Slm Student Ln Tr 2008-5~Student Ln Bkd Bd Cl A-3~Fltg Rate
Asset Backed Security
     1.565 %
1/25/18
             328,973  
     
Slm Student Ln Tr~2006-3 Ln Bkd Nt Cl A-3~A-3-Var Rate~030206
Asset Backed Security
     0.319 %
4/25/17
             266,071  
     
Soundview Home Ln Tr 2007-Ns1~Asset Backed Ctf Cl A-1
Asset Backed Security
     0.317 %
1/25/37
             251,073  
     
Soundview Home Ln Tr 2007-Opt3~Ctf Cl Ii-A-1
Asset Backed Security
     0.263 %
7/25/37
             242,711  
     
Starm Mtg Ln Tr 2007-2~Mtg Passthru Ctf Cl 3-A-3~3-A-3-Var Rate~032907
Asset Backed Security
     5.689 %
4/25/37
             683,362  
     
Station Pl Securitization Tr~2009-1~Nt Cl A~Ser 1 Cl A
Asset Backed Security
        
12/29/10
             671,625  
     
Structured Adj Rate Mtg Ln Tr~2004-13 Mtg Passthru Ctf Cl
Asset Backed Security
     0.479 %
9/25/34
             57,230  
     
Structured Adj Rate Mtg Ln Tr~2005-19Xs Mtg Passthru Ctf~Cmo/Ser 19Xs Cl 1A1
Asset Backed Security
     0.498 %
10/25/35
             86,460  
     
Structured Asset Secs Corp  *Pp*~2003-Al2 Asset Bkd Ctf Cl A~144A
Asset Backed Security
     3.357 %
1/25/31
             136,082  
     
Structured Asset Secs Corp~2004-3Ac Mtg Passthru Ctf Cl
Asset Backed Security
     4.920 %
3/25/34
             371,859  
     
Structured Asset Secs Corp~2005-5N Lehman Xs Mtg Passthru~Var Rate
Asset Backed Security
     0.534 %
11/25/35
             114,664  
 
 
 
 
S-10
 
 
 
  (a)    (b) Identity of issue, borrower, lessor or similar party (c) Description of investment including maturity date, rate of interest, collateral, par or maturity value     (d) Cost        (e) Current Value  
     
Thornburg Mtg Secs Tr 2006-6~Mtg Ln Passthru Ctf Cl A-1
Asset Backed Security
     0.308 %
12/25/36
             1,155,875  
     
Thornburg Mtg Secs Tr 2007-1~Mtg-Bkd Nts Cl A-3A Var Rate
Asset Backed Security
     0.299 %
3/25/37
             437,098  
     
Tiaa Seasoned Coml Mtg Tr~2007-C4~Mtg Passthru Ctf Cl A-1
Asset Backed Security
     5.701 %
8/1/39
             772,715  
     
Txu Electric Delivery Transition Bond~Series 2004-1 Class A2
Asset Backed Security
     4.810 %
11/17/14
             907,946  
     
Usaa Auto Owner Tr 2008-1~Asset Backed Nt Cl A-3
Asset Backed Security
     4.160 %
4/16/12
             794,429  
     
Wachovia Auto Owner Tr 2006-A~Asset Bkd Nt Cl A-4
Asset Backed Security
     5.380 %
6/20/13
             321,622  
     
Wachovia Bk Coml Mtg Tr Coml~Mtg Pass Thru Ctfs Ser~Mtg Pass Thru Ctf Cl A-2~Cmo Ser C33
Asset Backed Security
     6.055 %
2/15/51
             916,015  
     
Wachovia Bk Coml Mtg Tr Coml~Mtg Pass Thru Ctfs Ser~Mtg Pass Thru Ctf Cl A-4~Cmo Ser C33
Asset Backed Security
     6.100 %
2/15/51
             509,167  
     
Wachovia Bk Coml Mtg Tr Coml~Mtg Pass-Through Ctfs Ser~Mtg Passthru Ctf Cl A-4~Cmo A4 Ser C29
Asset Backed Security
     5.308 %
11/15/48
             445,716  
     
Wachovia Bk Coml Mtg Tr~2003-C6 Coml Mtg Passthru Ctf
Asset Backed Security
     5.125 %
8/15/35
             512,443  
     
Wamu Mtg Pass Thru Ctfs Ser~2006-Ar18~Mtg Passthru Ctf Cl 1-A1 Var~Cmo 1A1 Ser Ar18
Asset Backed Security
     5.372 %
1/25/37
             332,408  
     
Wamu Mtg Pass Thru Ctfs Ser~2007-Oa4~Mtg Passthru Ctf Cl 1A~Cmo 1A Ser Oa4
Asset Backed Security
     1.314 %
5/25/47
             93,099  
     
Wamu Mtg Pass-Through Ctfs Ser~2007-0A5 Tr~Mtg Passthru Ctf Cl 1A~Cmo 1A Ser Oa5
Asset Backed Security
     1.294 %
6/25/47
             158,680  
     
Washington Mut Mtg Secs Corp~2002-Ar1 Msc Mtg Passthru Ctf~Var Rate
Asset Backed Security
     3.359 %
11/25/30
             38,259  
     
Washington Mut Mtg Secs Corp~2002-Ms1 Mtg Passthru Ctf Cl~Ii-A-1-Fixed Rt
Asset Backed Security
     6.250 %
2/25/32
             10,484  
     
Wells Fargo Mtg Backed Secs V/R~2004-K Tr Mtg Passthru Ctf Cl 1A2~'Cstr,Pt,As'
Asset Backed Security
     4.461 %
7/25/34
             353,495  
     
Wells Fargo Mtg Backed Secs~2006-Ar12 Tr~Ii-A-1-Var Rate~082406
Asset Backed Security
     6.119 %
9/25/36
             180,188  
     
Gs Mtg Secs Corp~Ser 2000-1 Mtg Passthru Ctf A~144A
Asset Backed Security
     0.571 %
3/20/23
             106,638  
     
Structured Asset Receivables *Pp*~Tr~2003-2 Tr Ctf
Asset Backed Security
     4.581 %
1/21/09
             -  
           
Total Asset Backed Securities
       76,258,528  
                                   
     
Federal Home Ln Mtg Corp Remic Tr
Collaterized Mortg Oblig.
     5.000 %
7/15/19
             158,490  
     
Federal Home Ln Mtg Corp Remic Tr
Collaterized Mortg Oblig.
     4.500 %
2/15/19
             795,072  
     
Federal Home Ln Mtg Corp Remic Tr~Cmo/Ser 3063 Cl-Yb
Collaterized Mortg Oblig.
     5.500 %
6/15/26
             880,913  
     
Federal Home Ln Mtg Corp Remic Tr~Multiclass Mtg Partn Ctfs Gtd~Preassign 00224~Cmo Cl Ep
Collaterized Mortg Oblig.
     5.375 %
9/15/11
             716,397  
     
Federal Home Ln Mtg Corp~Cmo/Ser 2864 Cl-Na
Collaterized Mortg Oblig.
     5.500 %
1/15/31
             193,074  
     
Federal Natl Mtg Assn Gtd Remic~Cmo/Ser 2002-14 Cl-T-6
Collaterized Mortg Oblig.
     3.310 %
2/25/32
             101,340  
     
Federal Natl Mtg Assn Remic Tr~Pass Thru Tr 2004-28 Cl-Pb
Collaterized Mortg Oblig.
     6.000 %
8/25/28
             52,777  
     
Federal Natl Mtg Assn Remic Tr~Remic Pass Thru Tr
Collaterized Mortg Oblig.
     5.500 %
5/25/27
             93,406  
 
 
 
 
S-11
 
 
 
  (a)    (b) Identity of issue, borrower, lessor or similar party (c) Description of investment including maturity date, rate of interest, collateral, par or maturity value     (d) Cost        (e) Current Value  
     
Federal Natl Mtg Assn Remic Tr~Remic Pass Thru Tr Ser 2004-88 Cl-Ha
Collaterized Mortg Oblig.
     6.500 %
7/25/34
             89,396  
     
Federal Natl Mtg Assn Remic Tr~Remic Pass Thru Tr~Pa-Fixed Rt Cl Pa Ser 78~080205
Collaterized Mortg Oblig.
     5.500 %
1/25/26
             144,393  
     
Federal Natl Mtg Assn Remic Tr~Remic Pass Thru Tr~Pb-Rcr-Fixed Rt~061705
Collaterized Mortg Oblig.
     5.750 %
7/25/35
             357,866  
     
Federal Natl Mtg Assn Remic Tr~Remic Pass Thru Tr~Ta-Fixed Rt Cl Ta Ser 100~091905
Collaterized Mortg Oblig.
     5.500 %
3/25/25
             36,453  
     
Federal Nat'l Mtge Assn  Pool #   254548
Collaterized Mortg Oblig.
     5.500 %
12/1/32
             520,528  
     
Federal Nat'l Mtge Assn  Pool #   357802
Collaterized Mortg Oblig.
     5.500 %
6/1/20
             99,714  
     
Federal Nat'l Mtge Assn  Pool #   545823
Collaterized Mortg Oblig.
     5.500 %
8/1/17
             4,450  
     
Federal Nat'l Mtge Assn  Pool #   545900
Collaterized Mortg Oblig.
     5.500 %
7/1/17
             12,174  
     
Federal Nat'l Mtge Assn  Pool #   555114
Collaterized Mortg Oblig.
     5.500 %
12/1/17
             4,801  
     
Federal Nat'l Mtge Assn  Pool #   555384
Collaterized Mortg Oblig.
     5.500 %
4/1/18
             996,435  
     
Federal Nat'l Mtge Assn  Pool #   555591
Collaterized Mortg Oblig.
     5.500 %
7/1/33
             456,693  
     
Federal Nat'l Mtge Assn  Pool #   617271
Collaterized Mortg Oblig.
     5.500 %
1/1/17
             119,213  
     
Federal Nat'l Mtge Assn  Pool #   674612
Collaterized Mortg Oblig.
     5.500 %
12/1/17
             209,832  
     
Federal Nat'l Mtge Assn  Pool #   687885
Collaterized Mortg Oblig.
     5.500 %
3/1/18
             32,470  
     
Federal Nat'l Mtge Assn  Pool #   735500
Collaterized Mortg Oblig.
     5.500 %
5/1/35
             4,659,503  
     
Federal Nat'l Mtge Assn  Pool #   735925
Collaterized Mortg Oblig.
     5.000 %
10/1/35
             1,029,947  
     
Federal Nat'l Mtge Assn  Pool #   735989
Collaterized Mortg Oblig.
     5.500 %
2/1/35
             45,791  
     
Federal Nat'l Mtge Assn  Pool #   745922
Collaterized Mortg Oblig.
     3.612 %
7/1/35
             473,896  
     
Federal Nat'l Mtge Assn  Pool #   773501
Collaterized Mortg Oblig.
     5.500 %
8/1/19
             358,615  
     
Federal Nat'l Mtge Assn  Pool #   778519
Collaterized Mortg Oblig.
     5.500 %
4/1/19
             24,335  
     
Federal Nat'l Mtge Assn  Pool #   780993
Collaterized Mortg Oblig.
     4.047 %
5/1/34
             856,530  
     
Federal Nat'l Mtge Assn  Pool #   809774
Collaterized Mortg Oblig.
     4.777 %
2/1/35
             165,109  
     
Federal Nat'l Mtge Assn  Pool #   828056
Collaterized Mortg Oblig.
     4.865 %
6/1/35
             443,411  
     
Federal Nat'l Mtge Assn  Pool #   833522
Collaterized Mortg Oblig.
     5.500 %
9/1/20
             28,424  
     
Federal Nat'l Mtge Assn  Pool #   845326
Collaterized Mortg Oblig.
     6.000 %
12/1/35
             54,974  
     
Federal Nat'l Mtge Assn  Pool #   865807
Collaterized Mortg Oblig.
     5.500 %
3/1/21
             25,790  
     
Federal Nat'l Mtge Assn  Pool #   880504
Collaterized Mortg Oblig.
     5.500 %
8/1/21
             100,197  
     
Federal Nat'l Mtge Assn  Pool #   888250
Collaterized Mortg Oblig.
     5.500 %
1/1/21
             396,047  
     
Federal Nat'l Mtge Assn  Pool #   888601
Collaterized Mortg Oblig.
     5.500 %
6/1/20
             808,143  
     
Federal Nat'l Mtge Assn  Pool #   888817
Collaterized Mortg Oblig.
     5.500 %
8/1/37
             1,391,626  
     
Federal Nat'l Mtge Assn  Pool #   986761
Collaterized Mortg Oblig.
     5.500 %
7/1/38
             3,447,737  
     
Federal Nat'l Mtge Assn  Pool #   987325
Collaterized Mortg Oblig.
     5.540 %
9/1/38
             491,447  
     
Federal Nat'l Mtge Assn  Pool #   995320
Collaterized Mortg Oblig.
     4.500 %
12/1/20
             1,394,079  
     
Federal Nat'l Mtge Assn  Pool #   995324
Collaterized Mortg Oblig.
     5.000 %
12/1/20
             2,032,384  
     
Fed'l Home Loan Mtge Corp Grp #   1B2139
Collaterized Mortg Oblig.
     4.782 %
3/1/35
             399,626  
     
Fed'l Home Loan Mtge Corp Grp #   1G2511
Collaterized Mortg Oblig.
     5.382 %
5/1/36
             652,378  
     
Fed'l Home Loan Mtge Corp Grp #   1K1233
Collaterized Mortg Oblig.
     5.467 %
5/1/36
             427,379  
     
Fed'l Home Loan Mtge Corp Grp #   A71746
Collaterized Mortg Oblig.
     5.500 %
1/1/38
             1,231,489  
     
Fed'l Home Loan Mtge Corp Grp #   A81740
Collaterized Mortg Oblig.
     5.500 %
9/1/38
             749,414  
     
Fed'l Home Loan Mtge Corp Grp #   E00627
Collaterized Mortg Oblig.
     5.500 %
2/1/14
             54,775  
     
Fed'l Home Loan Mtge Corp Grp #   E01216
Collaterized Mortg Oblig.
     5.500 %
10/1/17
             195,557  
     
Fed'l Home Loan Mtge Corp Grp #   E88978
Collaterized Mortg Oblig.
     5.500 %
4/1/17
             57,276  
     
Fed'l Home Loan Mtge Corp Grp #   E91860
Collaterized Mortg Oblig.
     5.500 %
10/1/17
             35,876  
     
Fed'l Home Loan Mtge Corp Grp #   J00252
Collaterized Mortg Oblig.
     5.500 %
10/1/20
             100,058  
     
Fed'l Home Loan Mtge Corp Grp #   J00813
Collaterized Mortg Oblig.
     5.000 %
12/1/20
             65,795  
     
Fed'l Home Loan Mtge Corp Grp #   J03285
Collaterized Mortg Oblig.
     5.000 %
8/1/21
             70,478  
     
Fed'l Home Loan Mtge Corp Grp #   J03286
Collaterized Mortg Oblig.
     5.000 %
9/1/21
             531,820  
     
Fed'l Home Loan Mtge Corp Grp #   J05930
Collaterized Mortg Oblig.
     5.500 %
3/1/21
             31,561  
     
Fed'l Home Loan Mtge Corp Grp #   M80817
Collaterized Mortg Oblig.
     4.000 %
5/1/10
             59,767  
 
 
 
 
S-12
 
 
 
  (a)    (b) Identity of issue, borrower, lessor or similar party (c) Description of investment including maturity date, rate of interest, collateral, par or maturity value     (d) Cost        (e) Current Value  
     
Fhlmc TBA 30Yr Gold Sfm 05.00% Jan
Collaterized Mortg Oblig.
        
1/15/33
             615,188  
     
Fnma TBA 15Yr Sfm 05.50% Jan
Collaterized Mortg Oblig.
        
1/1/20
             5,393,250  
     
Fnma TBA 15Yr Sfm 4.00 Jan
Collaterized Mortg Oblig.
        
1/1/20
             603,469  
     
Fnma TBA 30Yr Sfm 04.50% Jan
Collaterized Mortg Oblig.
     4.500 %
1/1/35
             2,495,313  
     
Fnma TBA 30Yr Sfm 05.00% Jan
Collaterized Mortg Oblig.
        
1/1/37
             410,438  
     
Fnma TBA 30Yr Sfm 06.50% Jan
Collaterized Mortg Oblig.
        
1/1/39
             (107,094 )
     
Gov't Nat'l Mtg Assn Pool#    781590
Collaterized Mortg Oblig.
     5.500 %
4/15/33
             53,930  
     
Gov't Nat'l Mtg Assn Pool#   781594
Collaterized Mortg Oblig.
     6.500 %
1/15/33
             790,626  
     
Gov't Nat'l Mtge Assn  Pool #      80916
Collaterized Mortg Oblig.
     2.750 %
5/20/34
             431,683  
     
Gov't Nat'l Mtge Assn  Pool #      80947
Collaterized Mortg Oblig.
     2.750 %
6/20/34
             321,439  
     
Gov't Nat'l Mtge Assn  Pool #     372062
Collaterized Mortg Oblig.
     6.500 %
3/15/24
             50,896  
     
Gov't Nat'l Mtge Assn  Pool #     499416
Collaterized Mortg Oblig.
     6.000 %
2/15/29
             2,277  
     
Gov't Nat'l Mtge Assn  Pool #     590089
Collaterized Mortg Oblig.
     5.500 %
7/15/33
             18,187  
     
Gov't Nat'l Mtge Assn  Pool #     781284
Collaterized Mortg Oblig.
     6.000 %
2/15/11
             2,207  
     
Gov't Nat'l Mtge Assn  Pool #     781579
Collaterized Mortg Oblig.
     6.500 %
2/15/33
             244,120  
     
GNMA I TBA 30Yr Sfm 06.50% Jan
Collaterized Mortg Oblig.
     6.500 %
1/25/35
             425,250  
     
GNMA II TBA 30Yr Jumbo 05.00% Jan
Collaterized Mortg Oblig.
        
1/1/37
             1,438,719  
       
Total Collaterized Mortage Obligations
       42,157,019  
                                   
     
Edp Fin B V Amsterdam   Restr~Nt 144A
Other Bond
     6.000 %
02/02/18
             267,060  
     
Edp Fin B V Amsterdam  Restr~Nt 144A
Other Bond
     5.375 %
11/02/12
             646,104  
     
Emirate Abu Dhabi Global Restr~Medium Term Nts Book Entry~Tranche # Tr 00002
Other Bond
     6.750 %
04/08/19
             630,769  
     
Israel St~Gtd Nt Cl 3
Other Bond
     5.500 %
04/26/24
             373,510  
     
Israel St~Gtd Nt Dtd 09/18/2003 Cl1-B
Other Bond
     5.500 %
09/18/33
             148,206  
     
Monumental Global Fdg Ii- Restr~2005-C      144A~Sr Secd Nt Ser C Fltg Rate
Other Bond
        
06/16/10
             495,000  
     
Ontario Prov Cda
Other Bond
     4.100 %
06/16/14
             563,549  
     
Ontario Prov Cda
Other Bond
     4.100 %
06/16/14
             1,382,783  
     
Ontario Prov Cda~Ontario Prov Cda~Bd
Other Bond
     1.875 %
11/19/12
             1,534,562  
     
Province Of Ont~Global Nt Fltg Rate~For Future Issues See 683234
Other Bond
        
05/22/12
             752,383  
     
Qatar St Restr~Bd
Other Bond
     6.550 %
04/09/19
             205,813  
     
Societe De Financement De L Re Restr
Other Bond
     3.375 %
05/05/14
             1,050,044  
     
Societe De Financement De L Restr
Other Bond
     2.250 %
06/11/12
             712,727  
     
Societe De Financement De L Restr
Other Bond
     2.250 %
06/11/12
             1,228,316  
     
Societe De Financement De L Restr~Economie Francaise~Sr Nt
Other Bond
     2.375 %
03/26/12
             1,216,293  
 
 
 
 
S-13
 
 
 
  (a)    (b) Identity of issue, borrower, lessor or similar party (c) Description of investment including maturity date, rate of interest, collateral, par or maturity value     (d) Cost        (e) Current Value  
     
Temasek Finl Ltd *Pp*~Nt  144A
Other Bond
     4.500 %
09/21/15
             246,520  
     
Tiaa Global Mkts Inc Mtn Restr~144A 3C7~Tranche # Tr 00003
Other Bond
     5.125 %
10/10/12
             571,112  
     
Tiaa Global Mkts Inc Mtn Restr~144A 3C7~Tranche # Tr 00003
Other Bond
     5.125 %
10/10/12
             457,967  
     
United Mexican Sts Medium Term~Nts Book Entry~Tranche # Tr 00019
Other Bond
     5.625 %
01/15/17
             72,974  
     
United Mexican Sts M/T/N
Other Bond
     7.500 %
04/08/33
             51,637  
     
Qatar St~Bd Dtd 11/2009
Other Bond
     4.000 %
01/20/15
             786,964  
     
Small Business Admin Gtd Partn~Ctfs~Ser Sbic-Ps 2003-10 A
Other Bond
     4.524 %
02/10/13
             84,643  
     
3M Co Medium Term Nts Book~Entry~Tranche # Tr 00004Dtd
Other Bond
     4.650 %
12/15/12
             1,384,448  
     
Amresco Independence Fdg Inc V/R  *Pp*~1999-1 Sba Ln Bkd Ctf Adj Rate~144A Cl A
Other Bond
        
06/15/26
             99,752  
     
Anheuser Busch Inbev Worldwide Restr~Inc~Gtd Nt
Other Bond
     7.750 %
01/15/19
             614,665  
     
Bank Amer Corp 6.00000 09/01/17~Collateral Held @ Harris Trust
Other Bond
     6.000 %
09/01/17
             108,982  
     
Barclays Bk Plc  Restr~Perpetual Sub Hybrid Tier I~Rci~144A
Other Bond
        
12/31/49
             291,200  
     
Barclays Bk Plc Restr~Call Pepr Reserve Cap~Instruments
Other Bond
     5.926 %
12/31/49
             116,250  
     
Belvoir Ld Llc  *Pp*~Military Hsg Rev Bd 2005 Ser A~I~144A
Other Bond
     5.270 %
12/15/47
             20,509  
     
Business Ln Ctr Inc V/R Restr~Sba/Abs 1998-1 Cl A 144A
Other Bond
     6.750 %
01/15/25
             75,008  
     
Leaseplan Corp Restr
Other Bond
     3.000 %
05/07/12
             639,950  
     
Leaseplan Corp Restr
Other Bond
     3.000 %
05/07/12
             1,023,920  
     
Metropolitan Life Global Fdg I Restr~Medium Term Nts Book Entry~Tranche # Tr 00045
Other Bond
     5.125 %
06/10/14
             238,118  
     
Metropolitan Life Global Fdg Irestr~Sr Nt
Other Bond
     5.125 %
04/10/13
             582,665  
     
Royal Bk Scotland Plc Gtd Restr
Other Bond
        
04/08/11
             1,903,971  
     
Royal Bk Scotland Plc Gtd Restr~Medium Term Bk Nts Book Entry~Tranche # Tr 00003
Other Bond
     2.625 %
05/11/12
             481,801  
     
FNMA Mtge Corp Grp # J02895
Other Bond
     5.500 %
6/21/21
             430,105  
           
Total Other Bonds
       21,490,280  
                                   
           
Total Bonds and Debentures
       283,273,569  
                                   
 
 
 
 
S-14
 
 
  (a)    (b) Identity of issue, borrower, lessor or similar party (c) Description of investment including maturity data, rate of itnerest, collateral, par or maturity value     (d) Cost        (e) Current Value  
     
3I Group Plc~ADR
Common Stock
                       197,196  
     
Abb Ltd~Sponsored ADR
Common Stock
                       1,001,222  
     
Adidas Ag~Sponsored ADR
Common Stock
                       246,069  
     
Advantest Corp~Sponsored ADR New
Common Stock
                       383,229  
     
Aegon N V
Common Stock
                       259,278  
     
Aeon Co Ltd~ADR
Common Stock
                       508,922  
     
Air France-Klm~Sponsored ADR
Common Stock
                       456,226  
     
Air Liquide ADR
Common Stock
                       641,631  
     
Ajinomoto Inc ADR
Common Stock
                       404,157  
     
Aktiebolgt Electrolux ADR
Common Stock
                       688,709  
     
Akzo Nobel N V ADR
Common Stock
                       386,717  
     
Alcatel-Lucent ADR
Common Stock
                       224,432  
     
All Nippon Awys Ltd~Sponsored ADR
Common Stock
                       381,687  
     
Allianz Se ADR~Sponsored ADR Repstg 1/10 Sh
Common Stock
                       1,536,383  
     
Alpha Bk A E
Common Stock
                       202,729  
     
Alumina Ltd~Sponsored ADR
Common Stock
                       452,271  
     
Amada Co Ltd ADR
Common Stock
                       212,194  
     
Amcor Ltd ADR New
Common Stock
                       465,408  
     
Anglo Amern Plc~ADR New
Common Stock
                       1,140,483  
     
Arcelormittal Sa Luxembourg~N Y Registry Shs
Common Stock
                       937,143  
     
Asahi Glass ADR
Common Stock
                       452,688  
     
Asahi Kasei Corp ADR
Common Stock
                       363,847  
     
Astrazeneca Plc Spons ADR~Rep 1 Ord
Common Stock
                       1,323,708  
     
Atlas Copco Ab Sponsored ADR~New Repstg Com
Common Stock
                       601,940  
     
Atlas Copco Ab~Sponsored ADR New Repstg Cl B
Common Stock
                       562,653  
     
Australia & New Zealand Bkg~Group Ltd Sponsored ADR
Common Stock
                       1,214,043  
     
Axa ADR
Common Stock
                       975,048  
     
Bae Sys Plc
Common Stock
                       429,026  
     
Banco Bilbao Vizcaya~ Argentaria S A~Sponsored ADR
Common Stock
                       1,519,635  
     
Banco Santander S A~ADR
Common Stock
                       2,900,016  
     
Bank Yokohama Ltd Japan ADR
Common Stock
                       335,442  
     
Barclays Plc ADR~ (Rep 4 Ord Gbp1)
Common Stock
                       1,063,480  
     
Basf Se~Sponsored ADR
Common Stock
                       1,344,610  
     
Bayer A G Sponsored ADR
Common Stock
                       1,431,211  
     
Bg Plc~ADR Final Installment New
Common Stock
                       1,226,005  
     
Bhp Billiton Limited~Sponsored ADR
Common Stock
                       2,708,481  
     
Bhp Billiton Plc~Sponsored ADR
Common Stock
                       1,431,836  
     
Bnp Paribas~Sponsored ADR Repstg 1/4 Sh
Common Stock
                       1,784,495  
     
Boral Ltd New~Boral Ltd New~Sponsored ADR
Common Stock
                       496,896  
     
Bp Plc Spons ADR
Common Stock
                       3,570,546  
     
Bridgestone Corp ADR
Common Stock
                       401,718  
     
British American Tobacco
Common Stock
                       1,235,006  
     
British Awys Plc ADR
Common Stock
                       298,892  
     
British Ld Co Plc~Sponsored ADR
Common Stock
                       315,706  
     
British Sky Broadcasting Group Spons ADR~Plc
Common Stock
                       258,973  
 
 
 
 
S-15
 
 
 
  (a)    (b) Identity of issue, borrower, lessor or similar party (c) Description of investment including maturity date, rate of interest, collateral, par or maturity value     (d) Cost        (e) Current Value  
     
Bt Group Plc~ADR
Common Stock
                       362,580  
     
Bunzl Plc~Sponsored ADR New
Common Stock
                       231,084  
     
Cadbury Plc~Sponsored ADR
Common Stock
                       449,251  
     
Cairn Energy Plc~ADR
Common Stock
                       275,779  
     
Canon Inc ADR Repstg 5 Shs
Common Stock
                       1,058,000  
     
Cap Gemini S A~ADR
Common Stock
                       188,059  
     
Capitaland Ltd~Sponsored ADR
Common Stock
                       393,669  
     
Carnival Plc~ADR
Common Stock
                       272,309  
     
Centrica Plc~Sponsored ADR New 2004
Common Stock
                       632,227  
     
Cheung Kong Hldgs Ltd ADR
Common Stock
                       499,252  
     
City Devs Ltd Spons ADR
Common Stock
                       557,500  
     
Clp Holdings Ltd
Common Stock
                       372,020  
     
Coca Cola Amatil Ltd~Sponsored ADR
Common Stock
                       749,715  
     
Coca-Cola Hellenic Bottling Co~S A~Sponsored ADR
Common Stock
                       218,759  
     
Commerzbank A G Sponsored ADR
Common Stock
                       364,842  
     
Commonwealth Bk Australia Spnrd ADR 144A
Common Stock
                       1,761,069  
     
Compass Group Plc~Sponsored ADR New
Common Stock
                       352,088  
     
Computershare Ltd~Sponsored ADR
Common Stock
                       439,848  
     
Credit Agricole S A~ADR
Common Stock
                       513,399  
     
Credit Suisse Group Sponsored ADR
Common Stock
                       1,253,777  
     
Crh Plc ADR
Common Stock
                       389,289  
     
Dai Nippon Prtg Ltd Japan~Sponsored ADR
Common Stock
                       304,464  
     
Daimler Ag~Ord
Common Stock
                       1,214,121  
     
Daiwa Group Inc.
Common Stock
                       349,643  
     
Daiwa House Ind Ltd ADR
Common Stock
                       523,188  
     
Danone~Sponsored ADR
Common Stock
                       866,027  
     
Danske Bk A/S ADR~ADR
Common Stock
                       383,371  
     
Dassault Sys S A~Sponsored ADR
Common Stock
                       430,244  
     
Delhaize Group
Common Stock
                       986,619  
     
Denso Corp~ADR
Common Stock
                       477,792  
     
Deutsche Bank Npv
Common Stock
                       961,894  
     
Deutsche Lufthansa A G~Sponsored ADR
Common Stock
                       423,688  
     
Deutsche Telekom Ag Sponsored ADR
Common Stock
                       974,610  
     
Dexia Sa Npv
Common Stock
                       -  
     
Diageo Plc Spon ADR New
Common Stock
                       897,124  
     
Dnb Nor Asa 144A Spon ADR
Common Stock
                       281,336  
     
E On Ag
Common Stock
                       1,983,754  
     
Edp-Energias De Portugal Sa ADR~Sponsored
Common Stock
                       365,208  
     
Eisai Ltd Spons ADR
Common Stock
                       1,102,110  
     
Elan Corp Plc ADR
Common Stock
                       234,511  
     
Enel Societa Per Azioni~ADR
Common Stock
                       918,702  
     
Eni S P A Sponsored ADR
Common Stock
                       1,588,749  
     
Ericsson (Lm) Telephone Co ADR (New)
Common Stock
                       540,942  
     
Erste Group Bank Ag
Common Stock
                       282,295  
     
Essilor Intl~Sponsored ADR
Common Stock
                       515,140  
     
European Aeronautic Defence &~Space Co Eads Nv~Unsponsored ADR
Common Stock
                       406,181  
     
Experian Plc ADR
Common Stock
                       347,774  
 
 
 
 
S-16
 
 
 
  (a)    (b) Identity of issue, borrower, lessor or similar party (c) Description of investment including maturity date, rate of interest, collateral, par or maturity value     (d) Cost        (e) Current Value  
     
Fiat S.P.A ADR New
Common Stock
                       483,783  
     
Firstgroup~ADR
Common Stock
                       254,523  
     
Fortis Nl~Sponsored ADR New
Common Stock
                       311,253  
     
Fosters Group Ltd ADR Ltd Spons~New
Common Stock
                       631,604  
     
France Telecom Sponsored ADR
Common Stock
                       762,248  
     
Fresenius Med Care Ag & Co. Kgaa ADR~Rep Ord Bearer Shs
Common Stock
                       333,963  
     
Fuji Heavy Industries Ltd ADR
Common Stock
                       261,025  
     
Fujifilm Hldgs Corp~ADR 2 Ord
Common Stock
                       389,594  
     
Fujitsu Ltd ADR Com
Common Stock
                       345,708  
     
Furukawa Elec Ltd ADR
Common Stock
                       315,119  
     
Gdf Suez~Sponsored ADR
Common Stock
                       1,176,305  
     
Glaxo Smithkline Plc~ADR
Common Stock
                       2,165,313  
     
Hachijuni Bk Ltd~ADR
Common Stock
                       330,629  
     
Hang Seng Bk Ltd Spons ADR
Common Stock
                       340,216  
     
Hannover Reins Corp~Sponsored ADR
Common Stock
                       376,816  
     
Heineken N V ADR~Nlg5
Common Stock
                       235,218  
     
Hellenic Telecommun Org Spons ADR~Rep 1/2 Ord Shs
Common Stock
                       167,899  
     
Henkel Ag & Company Kgaa Spons ADR~Repstg Ord Shs
Common Stock
                       240,176  
     
Henkel Ag And Co. Kgaa Spons ADR~Repstg Pfd Shs
Common Stock
                       498,739  
     
Hennes & Mauritz Ab~ADR
Common Stock
                       694,025  
     
Hino Motors Ltd ADR
Common Stock
                       144,820  
     
Hitachi Ltd ADR 10 Com
Common Stock
                       260,780  
     
Honda Motor Co Ltd
Common Stock
                       1,220,400  
     
Hong Kong & China Gas Ltd Spnsrd ADR
Common Stock
                       355,898  
     
Hongkong Elec Hldgs Ltd~Sponsored ADR
Common Stock
                       337,404  
     
Hopewell Hldgs Ltd Sponsored ADR
Common Stock
                       178,035  
     
Hoya Corp~Sponsored ADR
Common Stock
                       290,675  
     
Hsbc Hldgs Plc~Sponsored ADR New
Common Stock
                       4,011,143  
     
Husqvarna Ab~Sponsored ADR Repstg 2 Cl B~Shs
Common Stock
                       356,102  
     
Hutchison Whampoa Ltd ADR
Common Stock
                       303,019  
     
Hysan Dev Ltd Sponsored ADR
Common Stock
                       448,801  
     
Iberdrola S A~Sponsored ADR Repstg 1 Ord Shs
Common Stock
                       1,665,137  
     
Icap Plc~Sponsored ADR Repstg 2 Ord Sh
Common Stock
                       250,248  
     
Imperial Tob Group Plc Sponsored ADR
Common Stock
                       677,331  
     
Ing Groep N V Sponsored ADR
Common Stock
                       769,879  
     
Intercontinental Hotels Group~Plc New~Sponsored ADR New June 2007
Common Stock
                       260,586  
     
International Pwr Plc~Sponsored ADR
Common Stock
                       350,104  
     
Intesa Sanpaolo S P A~Sponsored ADR Repstg Ord Shs
Common Stock
                       2,803,979  
     
Invensys Plc~Sponsored ADR New
Common Stock
                       272,451  
     
Isuzu Motors Ltd Unsponsored ADR
Common Stock
                       226,713  
     
Italcementi S P A ADR
Common Stock
                       195,080  
     
Itochu Corp ADR
Common Stock
                       446,874  
     
J Sainsbury Plc~Sponsored ADR New
Common Stock
                       257,940  
     
James Hardie Inds N V~Sponsored ADR
Common Stock
                       667,397  
     
Japan Airlines Corporation~ADR
Common Stock
                       195,066  
     
Johnson Matthey Pub Ltd Co~Johnson Matthey Pub Ltd Co~Sponsored ADR~Formerly Johnson Matthey & Co
Common Stock
                       238,977  
 
 
 
 
S-17
 
 
 
  (a)    (b) Identity of issue, borrower, lessor or similar party (c) Description of investment including maturity date, rate of interest, collateral, par or maturity value     (d) Cost        (e) Current Value   
     
Kajima Corp ADR
Common Stock
                       166,722  
     
Kao Corp ADR~Sponsored ADR Repstg 10 Shs~Com
Common Stock
                       443,897  
     
Kawasaki Heavy Inds Ltd~Sponsored ADR
Common Stock
                       291,566  
     
Kbc Groep Nv Npv
Common Stock
                       -  
     
Keppel Ltd Sponsored ADR
Common Stock
                       400,445  
     
Kingfisher Plc~Sponsored ADR Par 15 5/7 Pence
Common Stock
                       474,609  
     
Kirin Hldgs Co Ltd~Sponsored ADR
Common Stock
                       416,130  
     
Kobe Stl Ltd Sponsored ADR
Common Stock
                       353,702  
     
Komatsu Ltd New
Common Stock
                       477,814  
     
Konami Corp~Sponsored ADR
Common Stock
                       180,000  
     
Koninklijke Ahold Nv~Sponsored ADR 2007
Common Stock
                       346,034  
     
Koninklijke Philips Electrs~N V~Sponsored ADR New 2000
Common Stock
                       783,104  
     
Kubota Corp ADR
Common Stock
                       442,752  
     
Kyocera Corp ADR
Common Stock
                       389,620  
     
L Oreal Co ADR
Common Stock
                       1,577,931  
     
Ladbrokes Plc~Sponsored ADR
Common Stock
                       130,567  
     
Lafarge  S.A. ADR~Sponsored ADR New
Common Stock
                       378,038  
     
Legal & General Plc ADR
Common Stock
                       363,576  
     
Lend Lease Ltd~Sponsored ADR
Common Stock
                       981,353  
     
Lloyds Banking Group Plc~Sponsored ADR
Common Stock
                       355,469  
     
Lonmin Pub Ltd Co
Common Stock
                       315,559  
     
Lonza Group Ag~ADR
Common Stock
                       242,190  
     
Luxottica Group S P A  ADR~Sponsored ADR
Common Stock
                       220,540  
     
Lvmh Moet Hennessy Louis~Vuitton~ADR
Common Stock
                       301,525  
     
Mabubeni Corp ADR
Common Stock
                       356,785  
     
Makita Corporation ADR
Common Stock
                       387,750  
     
Man Group Plc~ADR
Common Stock
                       437,913  
     
Marks & Spencer Group P L C~Sponsored ADR
Common Stock
                       286,197  
     
Marui Ltd ADR New
Common Stock
                       453,879  
     
Matsui Secs Co Ltd~ADR
Common Stock
                       124,713  
     
Mediaset S P A~Sponsored ADR Repstg 3 Ord Shs
Common Stock
                       417,991  
     
Merck Kgaa~ADR
Common Stock
                       241,114  
     
Metso Corp~Sponsored ADR
Common Stock
                       565,549  
     
Minebea Ltd Spon ADR
Common Stock
                       350,513  
     
Mitsubishi Corp ADR~Sponsored
Common Stock
                       916,102  
     
Mitsubishi Elec Corp ADR
Common Stock
                       404,696  
     
Mitsubishi Estate Ltd ADR
Common Stock
                       539,794  
     
Mitsubishi Ufj Finl Group Inc~Sponsored ADR
Common Stock
                       1,097,504  
     
Mitsui & Co Ltd ADR
Common Stock
                       485,622  
     
Mitsui Sumitomo Ins Group~Hldgs Inc~ADR
Common Stock
                       624,938  
     
Mizuho Finl Group Inc~Sponsored ADR
Common Stock
                       525,100  
     
Mtr Corp Ltd~Sponsored ADR
Common Stock
                       266,131  
     
National Aust Bk Ltd ADR New
Common Stock
                       1,399,666  
     
National Bk Greece S A~Sponsored ADR
Common Stock
                       456,188  
     
National Grid Plc~Sponsored ADR New~Formerly National Grid Group~Plc To 10/21/2002 & Formerly
Common Stock
                       720,100  
 
 
 
 
S-18
 
 
 
  (a)    (b) Identity of issue, borrower, lessor or similar party (c) Description of investment including maturity date, rate of interest, collateral, par or maturity value     (d) Cost        (e) Curernt Value  
     
Nec Corp ADR
Common Stock
                       151,453  
     
Neptune Orient Lines Ltd~Sponsored ADR
Common Stock
                       421,275  
     
Nestle S A Sponsored ADR~Repstg Reg Sh
Common Stock
                       3,644,503  
     
Newcrest Mng Ltd Sponsored ADR
Common Stock
                       523,667  
     
Nidec Corp~Sponsored ADR
Common Stock
                       380,644  
     
Nikon Corp~ADR
Common Stock
                       215,995  
     
Nintendo Ltd ADR
Common Stock
                       544,511  
     
Nippon Stl Corp~ADR
Common Stock
                       588,106  
     
Nippon Teleg & Tel Corp Sponsored ADR
Common Stock
                       615,888  
     
Nippon Yusen Kabushiki Kaisha~Sponsored ADR 2006
Common Stock
                       551,070  
     
Nissan Mtr Ltd ADR~Sponsored ADR
Common Stock
                       609,070  
     
Nisshin Steel Ltd ADR
Common Stock
                       202,590  
     
Nitto Denko Corp ADR
Common Stock
                       356,625  
     
Nokia Corp ADR-A Shs~Sponsored
Common Stock
                       1,083,229  
     
Nomura Hldgs Inc~Sponsored ADR
Common Stock
                       510,600  
     
Norsk Hydro A S Sponsored ADR
Common Stock
                       202,216  
     
Novartis Ag Spnsrd ADR
Common Stock
                       2,776,474  
     
Novo Nordisk A/S ADR
Common Stock
                       944,980  
     
Novozymes A/S~Sponsored ADR
Common Stock
                       156,183  
     
Nsk Ltd ADR~Sponsored
Common Stock
                       416,351  
     
Ntt Docomo Inc~Sponsored ADR
Common Stock
                       577,374  
     
Oji Paper Co Ltd Sponsored ADR
Common Stock
                       309,209  
     
Olympus Corp~Sponsored ADR
Common Stock
                       640,200  
     
Omron Corp~Sponsored ADR~Formerly Omron Tateisi Electrs~Co To 04/01/1990
Common Stock
                       230,304  
     
Omv-Ag~Sponsored ADR New
Common Stock
                       195,829  
     
Orix Corp~Sponsored ADR
Common Stock
                       478,240  
     
Orkla A S~Sponsored ADR Repstg Ser A
Common Stock
                       204,545  
     
Osterreichische~Elektrizitatswirtschafts~Sponsored ADR
Common Stock
                       264,275  
     
Panasonic Corp~ADR
Common Stock
                       530,950  
     
Panasonic Elec Wks Co Ltd~ADR
Common Stock
                       421,827  
     
Pearson Plc
Common Stock
                       373,360  
     
Peugeot S.A. ADR
Common Stock
                       453,206  
     
Portugal Telecom Sgps S.A. ADR
Common Stock
                       278,006  
     
Prudential Plc ADR
Common Stock
                       767,887  
     
Publicis S A New~Sponsored ADR
Common Stock
                       613,105  
     
Randgold Res Ltd ADR~ADR
Common Stock
                       174,064  
     
Reed Elsevier N V~Sponsored ADR New
Common Stock
                       219,454  
     
Reed Elsevier P L C~Sponsored ADR New
Common Stock
                       230,612  
     
Repsol Ypf S.A. ADR
Common Stock
                       645,812  
     
Rexam Plc~Sponsored ADR New 2001
Common Stock
                       258,620  
     
Ricoh Ltd ADR New
Common Stock
                       225,834  
     
Rio Tinto Plc Spon ADR
Common Stock
                       1,474,129  
     
Roche Hldg Ltd Sponsored ADR
Common Stock
                       2,487,978  
     
Rolls-Royce Group Plc~Sponsored ADR
Common Stock
                       321,681  
     
Royal Dsm N V~Sponsored ADR
Common Stock
                       152,263  
     
Royal Dutch Shell Plc Spons ADR~Repstg A Shs
Common Stock
                       2,108,358  
     
Royal Dutch Shell Plc~Sponsored ADR Repstg B Shs
Common Stock
                       1,548,699  
     
Royal Kpn Nv~Sponsored ADR
Common Stock
                       589,449  
     
Rwe Ag Spons ADR~Repstg Ord Par
Common Stock
                       1,057,234  
      Sabmiller Plc~Sponsored ADR       Common Stock                       633,971   
       Sage Group Plc~Unsponsored ADR Common Stock                        163,341   
 
 
 
 
S-19
 
 
  (a)    (b) Identity of issue, borrower, lessor or similar party (c) Description of investment including maturity date, rate of interest, collateral, par or maturity value     (d) Cost        (e) Current Value  
     
Sandvik Ab ADR
Common Stock
                       505,931  
     
Sanofi-Aventis~Sponsored ADR
Common Stock
                       1,759,296  
     
Santos Ltd ADR New
Common Stock
                       400,889  
     
Santos Ltd~ADR-Unsponsered
Common Stock
                       18,197  
     
Sanyo Elec Ltd ADR
Common Stock
                       181,843  
     
Sap Ag
Common Stock
                       838,648  
     
Scottish & Southn Energy Plc~Sponsored ADR
Common Stock
                       481,849  
     
Secom Ltd ADR
Common Stock
                       379,828  
     
Seiko Epson Corp~Unsponsored ADR
Common Stock
                       241,050  
     
Sekisui House Ltd~Sponsored ADR~Formerly Sekisui Prefab Homes~Ltd To 04/28/1982
Common Stock
                       216,288  
     
Sgs Societe Generale De~Surveillance Hldg Sa~ADR
Common Stock
                       274,449  
     
Sharp Corp
Common Stock
                       325,936  
     
Shinsei Bk Ltd~Sponsored ADR
Common Stock
                       214,830  
     
Shiseido Ltd Sponsored ADR
Common Stock
                       344,358  
     
Shizuoka Bk Ltd ADR
Common Stock
                       389,120  
     
Siemens A G~Sponsored ADR
Common Stock
                       1,702,869  
     
Singapore Telecommunications~Ltd~Sponsored ADR New 2006
Common Stock
                       452,565  
     
Sino Ld Ltd Sponsored ADR
Common Stock
                       321,448  
     
Skf Ab ADR~Sponsored ADR Par S Kr 12.50
Common Stock
                       606,543  
     
Smith & Nephew P L C~Sponsored ADR New
Common Stock
                       332,100  
     
Societe Generale France Sponsored ADR
Common Stock
                       859,615  
     
Sodexho Spons ADR
Common Stock
                       657,754  
     
Solvay S A Sponsored ADR
Common Stock
                       453,958  
     
Sony Corp ADR Amern Sh New~Ea Rcpt Represents 1 Actual Japanese Sh~ADR
Common Stock
                       580,000  
     
Statoil Asa~Sponsored ADR
Common Stock
                       718,305  
     
Stora Enso Oyj~Sponsored ADR Repstg Ser R Shs
Common Stock
                       302,199  
     
Suez Environnement Co S A~ADR Repstg 1/2 Com Shs
Common Stock
                       372,490  
     
Sumitomo Corp~Sponsored ADR
Common Stock
                       334,257  
     
Sumitomo Elec Inds Ltd ADR
Common Stock
                       284,119  
     
Sumitomo Metal Inds Ltd ADR
Common Stock
                       567,036  
     
Sumitomo Mitsui Finl Group Inc~ADR
Common Stock
                       594,451  
     
Sumitomo Tr & Bkg Ltd Spons ADR~Sumitomo Tr & Bkg Ltd~Sponsored ADR
Common Stock
                       316,290  
     
Sun Hung Kai Pptys Ltd~Sponsored ADR
Common Stock
                       620,284  
     
Suruga Bk Ltd~ADR
Common Stock
                       328,997  
     
Svenska Cellulosa Aktiebolaget ADR~Sca Sponsored
Common Stock
                       438,845  
     
Swire Pac Ltd ADR~Sponsored Repstg 1 Cl A Sh
Common Stock
                       457,110  
     
Swiss Reins Co Sponsored ADR
Common Stock
                       576,671  
     
Swisscom~Sponsored ADR
Common Stock
                       287,010  
     
Syngenta Ag Spons ADR
Common Stock
                       769,605  
     
Tabcorp Hldgs Ltd~Sponsored ADR
Common Stock
                       420,096  
     
Taiheiyo Cem Corp~ADR
Common Stock
                       207,225  
     
Taisei Constr Ltd ADR
Common Stock
                       191,285  
     
Tdk Corp ADR
Common Stock
                       327,731  
     
Technip Sa~Sponsored ADR
Common Stock
                       508,748  
     
Teijin Ltd ADR
Common Stock
                       351,253  
     
Telecom Corp New Zealand Ltd Spon ADR~(Each Conv Into 8 Ord Nzdi)
Common Stock
                       176,357  
     
Telecom Italia S P A New~Sponsored ADR Repstg Ord Shs
Common Stock
                       402,785  
     
Telecom Italia S P A New~Sponsored ADR Repstg Svgs Shs
Common Stock
                       284,130  
     
Telefonica S A Spon ADR
Common Stock
                       2,465,844  
     
Telenor Asa~Sponsored ADR
Common Stock
                       280,789  
     
Television Broadcast Ltd Spon ADR~ADR
Common Stock
                       207,131  
 
    
Telstra Ltd~Sponsored ADR Final Instalment
Common Stock
                       478,175  
 
 
S-20
 
 
  (a)    (b) Identity of issue, borrower, lessor or similar party (c) Description of investment including maturity date, rate of interest, collateral, par or maturity value     (d) Cost        (e) Current Value  
     
Tesco Plc Sponsored ADR
Common Stock
                       1,045,977  
     
Tnt N V~Sponsored ADR
Common Stock
                       524,306  
     
Tokio Marine Hldgs Inc~ADR
Common Stock
                       888,492  
     
Tokyu Ld Corp ADR
Common Stock
                       293,896  
     
Tomkins Plc Sponsored ADR
Common Stock
                       225,000  
     
Toppan Prtg Ltd ADR
Common Stock
                       282,345  
     
Toray Inds Inc ADR
Common Stock
                       405,234  
     
Total S.A. ADR
Common Stock
                       2,889,293  
     
Toto Ltd ADR
Common Stock
                       214,384  
     
Toyo Suisan Kaisha Ltd ADR
Common Stock
                       504,539  
     
Toyota Mtr Corp ADR 2 Com
Common Stock
                       2,230,240  
     
Trend Micro Inc~Sponsored ADR New
Common Stock
                       265,426  
     
Tullow Oil Plc~Sponsored ADR
Common Stock
                       323,491  
     
UBS Ag
Common Stock
                       1,178,031  
     
Unilever Nv Ny Share F New
Common Stock
                       1,086,288  
     
Unilever Plc Amer Shs ADR New
Common Stock
                       825,508  
     
United Overseas Bk Ltd Sponsored ADR
Common Stock
                       589,344  
     
United Utils Group Plc~Sponsored ADR
Common Stock
                       313,060  
     
Upm Kymmene Corp Sponsored ADR
Common Stock
                       444,326  
     
Veolia Environnement~Sponsored ADR
Common Stock
                       486,065  
     
Vestas Wind Sys A/S Utd~Kingdom~Unsponsored ADR Repstg 1 Ord~Shs
Common Stock
                       293,098  
     
Vivendi Sa~Sponsored ADR
Common Stock
                       877,149  
     
Vodafone Group Plc New~Vodafone Group Plc New~Sponsored ADR New
Common Stock
                       2,394,895  
     
Volkswagen A G Sponsored A ADR
Common Stock
                       303,541  
     
Volvo Aktiebolaget ADR B
Common Stock
                       415,403  
     
Westfield Hldgs Ltd /~Westfield Tr / Westfield Amer~Sponsored ADR Repstg Stapled~Secs
Common Stock
                       654,620  
     
Westpac Bkg Corp Sponsored ADR
Common Stock
                       1,514,468  
     
Wolseley Plc~Sponsored ADR
Common Stock
                       86,602  
     
Wolters Kluwer N V Sponsored ADR
Common Stock
                       197,568  
     
Woodside Pete Ltd Sponsored ADR
Common Stock
                       731,948  
     
Wpp Plc~ADR
Common Stock
                       313,306  
     
Yamazaki Baking Ltd ADR
Common Stock
                       390,277  
     
Yara Intl ADR~Sponsored ADR
Common Stock
                       177,571  
     
Zurich Finl Svcs~Sponsored ADR
Common Stock
                       823,802  
           
Total Common Stock
       199,779,694  
                                   
     
Swp: USD 4.55 Due 10/3/2010~Swap Receive
Interest Rate Swap
     4.550 %
10/3/10
             936,883  
     
Swp:  USD 4.55 Due 10/3/2010~Swap Pay
Interest Rate Swap
     4.550 %
10/3/10
             (900,000 )
     
Swp: USD 5.1575% 11/7/10~Swp Id Brs2Yewp8 Fxd
Interest Rate Swap
     5.158 %
11/7/10
             1,150,839  
     
Swp: USD 5.1575% 11/7/10~Swp Id Brs2Yewp8 Flo
Interest Rate Swap
        
11/7/10
             (1,100,000 )
     
Swp:  USD 5.000 11/07/10~Brs1N1Lw7 (Receive)
Interest Rate Swap
     5.000 %
11/7/10
             1,044,652  
     
Swp: USD 5.000  11/07/10~Brs1N1Lw7 (Pay)
Interest Rate Swap
        
11/7/10
             (1,000,000 )
     
Swp:USD 5.305000 10/15/2017~Swap/Swap  Brs58Mfl0
Interest Rate Swap
        
10/15/17
             3,700,000  
     
P Swp:USD 5.305000 10/15/2017~Swap/Swap  Brs58Mfl0
Interest Rate Swap
        
10/15/17
             (4,159,068 )
     
Swp:USD 4.295000 11/28/2012 Fix~Swap/Swap  Brs5Pqkg7
Interest Rate Swap
        
11/28/12
             8,540,379  
     
Swp :USD 4.295000 11/28/2012 Float~Swap/Swap  Brs5Pqkg7
Interest Rate Swap
        
11/28/12
             (8,000,000 )
 
 
 
S-21
 
 
 
 
  (a)    (b) Identity of issue, borrower, lessor or similar party (c) Description of investment including maturity date, rate of interest, collateral, par or maturity value     (d) Cost        (e) Current Value  
     
Swp: USD 2.00 7/06/2012 Fixed~Brs8Euz60
Interest Rate Swap
        
7/6/12
             2,537,595  
     
Swp: USD 2.00 7/06/2012 Float~Brs8Euz60
Interest Rate Swap
        
7/6/12
             (2,500,000 )
     
Swp: USD 2.845 7/6/2014 Fixed~Brs8Ev3Y2
Interest Rate Swap
        
7/6/14
             (1,523,861 )
     
Swp: USD 2.845 7/06/2014 Float~Brs8Ev3Y2
Interest Rate Swap
        
7/6/14
             1,500,000  
     
Swp: USD 2.792500 07/23/2014 Fix~Brs8H88N9
Interest Rate Swap
        
7/23/14
             1,921,704  
     
Swp: USD 2.792500 07/23/2014 Flt~Brs8H88N9
Interest Rate Swap
        
7/23/14
             (1,900,000 )
     
Swp: USD 2.902140 08/20/2014 Fixed~Brs8Meg19
Interest Rate Swap
        
8/20/14
             (1,722,686 )
     
Swp: USD 2.902140 08/20/2014 Float~Brs8Meg19
Interest Rate Swap
        
8/20/14
             1,700,000  
     
Swp: USD 2.7275 9/10/2014 Float~Brs8Qeqa4
Interest Rate Swap
        
9/10/14
             5,000,000  
     
Swp: USD 2.7275 9/10/2014 Fixed~Brs8Qeqa4
Interest Rate Swap
        
9/10/14
             (5,012,950 )
     
Swp: USD 3.6425 9/10/2019 Fixed~Brs8Qev00
Interest Rate Swap
        
9/10/19
             2,800,000  
     
Swp: USD 3.6425 9/10/2019 Float~Brs8Qev00
Interest Rate Swap
        
9/10/19
             (2,764,271 )
     
Swp: USD 1.365000 10/21/2011 Fixed~Brs8Whv71
Interest Rate Swap
        
10/21/11
             8,834,023  
     
Swp: USD 2.500000 11/19/2014 Float~Brs92Ce56
Interest Rate Swap
        
11/19/14
             3,200,000  
     
Swp: USD 2.500000 11/19/2014 Fixed~Brs92Ce56
Interest Rate Swap
        
11/19/14
             (3,145,132 )
     
Swp: USD 1.258750 05/21/2011 Fixed~Brs88B0T7
Interest Rate Swap
        
5/21/11
             (5,730,174 )
     
Swp: USD 1.258750 05/21/2011 Float~Brs88B0T7
Interest Rate Swap
        
5/21/11
             5,700,000  
     
Swp: USD 2.5925 10/05/02014 Float~Brs8Txeq7
Interest Rate Swap
        
10/5/14
             3,100,000  
     
Swp: USD 2.5925 10/05/2014 Fixed~Brs8Txeq7
Interest Rate Swap
        
10/5/14
             (3,076,758 )
     
Swp: USD 3.492940 10/22/2019 Fix~Brs8Wq836
Interest Rate Swap
        
10/22/19
             1,743,436  
     
Swp: USD 3.492940 10/22/2019 Flt~Brs8Wq836
Interest Rate Swap
        
10/22/19
             (1,800,000 )
     
Swp: USD 1.365000 10/21/2011 Float~Brs8Whv71
Interest Rate Swap
        
10/21/11
             (8,799,999 )
     
Future T-Note 10yr CBOT 100,000 USD/CBOT-per unit
Futures
        
3/22/10
             -  
     
Future T-Note 2yr 200,000 USD/CBOT-per unit
Futures
        
3/31/10
             -  
     
Future T-Note 5yr 100,000 USD/CBOT-per unit
Futures
        
3/31/10
             -  
     
Future T-Note 2yr 200,000 USD/CBOT-per unit
Futures
        
3/31/10
             -  
     
Future T-Note 5yr 100,000 USD/CBOT-per unit
Futures
        
3/31/10
             -  
     
Future Eurodollar 3mo 1,000,000 EUD/IMM-per unit
Futures
        
6/14/10
             -  
                       
           
Total Derivatives
       274,612  
                                   
                                   
     
Assets (Held and End of Year)
                       $ 2,846,798,151  
 
* represents party in interest

 
S-22