dnq.htm

Gross Unrealized Appreciation

Gross Unrealized Depreciation

Net Unrealized Appreciation

Wright Total Return Bond Fund (WTRB)

Portfolio of Investments – As of September 30, 2011 (Unaudited)

	Face Amount	Description	Coupon Rate			Maturity Date		Value
FIXED INCOME INVESTMENTS - 98.9%

ASSET-BACKED SECURITIES - 2.3%
$	310,000	Citibank Credit Card Issuance Trust, Series 2009-A1, Class A1	1.979	%	(1)	03/17/14	$	312,390
	170,000	Harley-Davidson Motorcycle Trust, Series 2009-1, Class A4	4.550	%		01/15/17		174,147
	195,000	PSE&G Transition Funding LLC, Series 2001-1, Class A7	6.750	%		06/15/16		221,581
Total Asset-Backed Securities (identified cost, $687,635)							$	708,118

COMMERCIAL MORTGAGE-BACKED SECURITIES - 8.8%
$	275,000	Citigroup Commercial Mortgage Trust, Series 2004-C2, Class A5	4.733	%		10/15/41	$	290,885
	330,000	Credit Suisse First Boston Mortgage Securities Corp., Series 2003-C3, Class A5	3.936	%		05/15/38		338,972
	522,460	Credit Suisse First Boston Mortgage Securities Corp., Series 2005-C1 Class A3	4.813	%		02/15/38		531,630
	435,000	JP Morgan Chase Commercial Mortgage Securities Corp., Series 2004-C3, Class A5	4.878	%		01/15/42		467,868
	300,000	LB-UBS Commercial Mortgage Trust, Series 2006-C6, Class A4	5.372	%		09/15/39		325,608
	315,000	Merrill Lynch Mortgage Trust, Series 2005-LC1, Class A4	5.291	%	(1)	01/12/44		347,211
	310,000	Merrill Lynch/Countrywide Commercial Mortgage Trust, Series 2006-2, Class A4	6.097	%	(1)	06/12/46		344,230
	55,878	Salomon Brothers Mortgage Securities VII, Inc., Series 2002-KEY2, Class A2	4.467	%		03/18/36		56,172
Total Commercial Mortgage-Backed Securities (identified cost, $2,549,432)							$	2,702,576

RESIDENTIAL MORTGAGE-BACKED SECURITIES - 0.2%
$	54,936	Wells Fargo Mortgage Backed Securities Trust, Series 2004-K, Class 1A2	2.761	%	(1)	07/25/34	$	55,001
Total Residential Mortgage-Backed Securities (identified cost, $46,133)							$	55,001

CONVERTIBLE BONDS - 0.4%
$	130,000	NASDAQ OMX Group, Inc. (The)	2.500	%		08/15/13	$	133,575
Total Convertible Bonds (identified cost, $127,053)							$	133,575

CORPORATE BONDS - 47.9%

AUTO MANUFACTURERS - 0.4%
$	110,000	Daimler Finance North America, LLC	6.500	%		11/15/13	$	120,831

CAPITAL GOODS - 0.4%
$	110,000	PACCAR, Inc.	6.875	%		02/15/14	$	125,016

CONSUMER DURABLES & APPAREL - 0.4%
$	115,000	Hasbro, Inc.	6.125	%		05/15/14	$	126,104

CONSUMER SERVICES - 0.2%
$	60,000	Brinker International, Inc.	5.750	%		06/01/14	$	64,032

DIVERSIFIED FINANCIALS - 15.0%
$	135,000	American Express Credit Corp., Series C	7.300	%		08/20/13	$	147,838
	55,000	Ameriprise Financial, Inc.	5.650	%		11/15/15		62,157
	135,000	Bank of America Corp., MTN	5.000	%		05/13/21		120,663
	140,000	Bear Stearns Cos., LLC (The)	5.700	%		11/15/14		151,087
	65,000	BlackRock, Inc.	3.500	%		12/10/14		69,120
	55,000	Capital One Financial Corp.	7.375	%		05/23/14		61,472
	260,000	Citigroup, Inc.	6.500	%		08/19/13		273,718
	160,000	Cooperatieve Centrale Raiffeisen-Boerenleenbank BA/Netherlands	2.125	%		10/13/15		159,828
	130,000	Credit Suisse USA, Inc.	0.496	%	(1)	04/12/13		129,035
	290,000	Deutsche Bank AG/London	3.875	%		08/18/14		296,173
	260,000	Eaton Vance Corp.	6.500	%		10/02/17		296,957
	135,000	Equifax, Inc.	4.450	%		12/01/14		143,939
	225,000	General Electric Capital Corp., MTN, Series A	6.750	%		03/15/32		257,602
	100,000	Goldman Sachs Group, Inc. (The)	0.965	%	(1)	09/29/14		93,541
	115,000	Goldman Sachs Group, Inc. (The)	6.150	%		04/01/18		119,331
	235,000	HSBC Finance Corp.	6.375	%		10/15/11		235,452
	70,000	Jefferies Group, Inc.	8.500	%		07/15/19		77,965
	110,000	JPMorgan Chase & Co.	6.300	%		04/23/19		124,636
	125,000	Merrill Lynch & Co., Inc.	6.050	%		05/16/16		112,601
	150,000	Moody's Corp.	5.500	%		09/01/20		160,298
	100,000	Morgan Stanley	5.300	%		03/01/13		100,869
	120,000	Nomura Holdings, Inc.	5.000	%		03/04/15		125,848
	135,000	PNC Funding Corp.	4.250	%		09/21/15		145,906
	155,000	Royal Bank of Scotland PLC (The)	3.950	%		09/21/15		145,902
	55,000	SunTrust Banks, Inc.	6.000	%		09/11/17		60,840
	130,000	TD Ameritrade Holding Corp.	4.150	%		12/01/14		138,163
	220,000	US Bancorp, MTN	3.150	%		03/04/15		229,783
	110,000	Wells Fargo & Co.	4.375	%		01/31/13		114,175
	155,000	Wells Fargo & Co.	3.625	%		04/15/15		161,529
	280,000	Westpac Banking Corp.	4.200	%		02/27/15		293,780

ENERGY - 2.2%
$	205,000	Baker Hughes, Inc.	6.875	%		01/15/29	$	270,224
	70,000	Cimarex Energy Co.	7.125	%		05/01/17		71,050
	50,000	Newfield Exploration Co.	6.625	%		04/15/16		50,750
	50,000	ONEOK Partners LP	6.850	%		10/15/37		59,872
	60,000	Oneok, Inc.	5.200	%		06/15/15		65,897
	70,000	Peabody Energy Corp.	7.375	%		11/01/16		77,262
	55,000	Valero Energy Corp.	9.375	%		03/15/19		70,581

FOOD, BEVERAGE & TOBACCO - 2.3%
$	60,000	Altria Group, Inc.	8.500	%		11/10/13	$	68,465
	55,000	Altria Group, Inc.	9.700	%		11/10/18		72,985
	140,000	ConAgra Foods, Inc.	5.875	%		04/15/14		152,067
	150,000	Corn Products International, Inc.	4.625	%		11/01/20		158,203
	100,000	PepsiCo, Inc.	7.900	%		11/01/18		133,248
	105,000	Philip Morris International, Inc.	6.875	%		03/17/14		119,225

HEALTH CARE EQUIPMENT & SERVICES - 2.6%
$	115,000	Biogen Idec, Inc.	6.000	%		03/01/13	$	121,706
	135,000	Hospira, Inc.	5.900	%		06/15/14		148,019
	75,000	Laboratory Corp. of America Holdings	3.125	%		05/15/16		77,748
	40,000	McKesson Corp.	6.500	%		02/15/14		44,728
	100,000	Medtronic, Inc.	4.500	%		03/15/14		108,463
	130,000	UnitedHealth Group, Inc.	6.000	%		02/15/18		154,472
	145,000	WellPoint, Inc.	4.350	%		08/15/20		153,714

HOUSEHOLD & PERSONAL PRODUCTS - 0.7%
$	115,000	Avon Products, Inc.	5.625	%		03/01/14	$	123,775
	60,000	Estee Lauder Cos., Inc. (The)	6.000	%		05/15/37		76,565

INDUSTRIAL - 0.2%
$	70,000	Greif, Inc.	6.750	%		02/01/17	$	70,700

INSURANCE - 4.7%
$	100,000	ACE INA Holdings, Inc.	5.875	%		06/15/14	$	110,715
	275,000	Loews Corp.	5.250	%		03/15/16		299,331
	125,000	MetLife, Inc.	5.000	%		06/15/15		137,056
	46,000	OneBeacon US Holdings, Inc.	5.875	%		05/15/13		47,165
	255,000	PartnerRe Finance B, LLC	5.500	%		06/01/20		265,615
	55,000	Principal Financial Group, Inc.	8.875	%		05/15/19		70,142
	130,000	Principal Life Income Funding Trusts, MTN	0.449	%	(1)	11/08/13		127,468
	90,000	Prudential Financial, Inc., MTN	4.500	%		11/15/20		89,577
	50,000	Prudential Financial, Inc., MTN, Series D	7.375	%		06/15/19		58,678
	200,000	Travelers Cos., Inc. (The)	5.500	%		12/01/15		224,603

MATERIALS - 1.6%
$	145,000	Airgas, Inc.	4.500	%		09/15/14	$	154,700
	120,000	Dow Chemical Co. (The)	7.375	%		03/01/23		145,426
	100,000	Lubrizol Corp.	8.875	%		02/01/19		135,815
	55,000	Steel Dynamics, Inc.	7.375	%		11/01/12		56,375

MEDIA - 2.3%
$	90,000	Comcast Cable Communications Holdings, Inc.	9.455	%		11/15/22	$	130,106
	150,000	DIRECTV Holdings, LLC / DIRECTV Financing Co, Inc.	5.000	%		03/01/21		158,964
	95,000	McGraw-Hill Cos., Inc. (The)	5.900	%		11/15/17		102,866
	50,000	Time Warner Cable, Inc.	8.250	%		04/01/19		62,702
	115,000	Time Warner Cos., Inc.	6.950	%		01/15/28		134,749
	120,000	Viacom, Inc.	4.375	%		09/15/14		128,311

MINING - 0.5%
$	80,000	Barrick Gold Financeco, LLC	6.125	%		09/15/13	$	87,486
	50,000	Rio Tinto Finance USA, Ltd.	8.950	%		05/01/14		59,164

MISCELLANEOUS MANUFACTURING - 0.2%
$	55,000	Tyco International Finance SA	8.500	%		01/15/19	$	71,897

PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 0.4%
$	115,000	Wyeth	5.500	%		02/01/14	$	126,672

PIPELINES - 0.9%
$	60,000	Spectra Energy Capital, LLC	5.650	%		03/01/20	$	66,947
	170,000	TransCanada PipeLines, Ltd.	6.500	%		08/15/18		208,378

RETAILING - 1.5%
$	55,000	AutoZone, Inc.	5.750	%		01/15/15	$	60,548
	135,000	Best Buy Co., Inc.	6.750	%		07/15/13		144,911
	72,000	Ltd. Brands, Inc.	5.250	%		11/01/14		75,240
	55,000	Netflix, Inc.	8.500	%		11/15/17		59,812
	120,000	Safeway, Inc.	5.000	%		08/15/19		131,211

SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 0.7%
$	165,000	Applied Materials, Inc.	7.125	%		10/15/17	$	203,884

SOFTWARE & SERVICES - 2.9%
$	140,000	Adobe Systems, Inc.	4.750	%		02/01/20	$	147,333
	140,000	Computer Sciences Corp.	5.500	%		03/15/13		146,676
	140,000	Dun & Bradstreet Corp.	6.000	%		04/01/13		149,286
	145,000	Ingram Micro, Inc.	5.250	%		09/01/17		154,264
	105,000	International Business Machines Corp.	7.625	%		10/15/18		139,460
	150,000	Symantec Corp.	4.200	%		09/15/20		146,681

TECHNOLOGY HARDWARE & EQUIPMENT - 1.1%
$	30,000	Dell, Inc.	5.625	%		04/15/14	$	32,640
	140,000	Harris Corp.	5.000	%		10/01/15		155,327
	140,000	Pitney Bowes, Inc., MTN	5.250	%		01/15/37		142,584

TELECOMMUNICATIONS - 2.4%
$	155,000	BellSouth Corp.	6.000	%		11/15/34	$	169,241
	70,000	British Telecommunications PLC	9.875	%		12/15/30		101,536
	105,000	Cellco Partnership / Verizon Wireless Capital, LLC	5.550	%		02/01/14		114,938
	145,000	Telefonica Emisiones SAU	4.949	%		01/15/15		143,163
	150,000	Verizon Global Funding Corp.	7.750	%		12/01/30		206,761

TRANSPORTATION - 0.5%
$	120,000	Burlington Northern Santa Fe, LLC	6.200	%		08/15/36	$	148,359

UTILITIES - 3.8%
$	115,000	American Electric Power Co., Inc.	5.250	%		06/01/15	$	127,581
	110,000	Consolidated Edison Co. of New York, Inc.	7.125	%		12/01/18		140,625
	90,000	Dominion Resources, Inc., Series E	6.300	%		03/15/33		108,977
	115,000	Duke Energy Indiana, Inc.	5.000	%		09/15/13		123,122
	80,000	Exelon Generation Co., LLC	5.200	%		10/01/19		86,492
	115,000	NextEra Energy Capital Holdings, Inc., Series D	7.300	%	(1)	09/01/67		119,167
	50,000	Pacific Gas & Electric Co.	8.250	%		10/15/18		66,697
	138,000	PPL Energy Supply, LLC	6.300	%		07/15/13		147,733
	60,000	Public Service Electric & Gas Co., MTN	5.300	%		05/01/18		71,109
	100,000	Sempra Energy	6.000	%		02/01/13		105,964
	55,000	TransAlta Corp.	4.750	%		01/15/15		58,471
Total Corporate Bonds (identified cost, $13,846,246)							$	14,686,611

U.S. GOVERNMENT INTERESTS - 39.3%

AGENCY MORTGAGE-BACKED SECURITIES - 27.1%
$	159,500	FHLMC Gold Pool #A32600	5.500	%		05/01/35	$	175,011
	33,386	FHLMC Gold Pool #C01646	6.000	%		09/01/33		37,019
	21,492	FHLMC Gold Pool #C27663	7.000	%		06/01/29		24,803
	111,468	FHLMC Gold Pool #C47318	7.000	%		09/01/29		130,414
	154,406	FHLMC Gold Pool #C66878	6.500	%		05/01/32		174,285
	128,696	FHLMC Gold Pool #C91046	6.500	%		05/01/27		142,389
	23,949	FHLMC Gold Pool #D66753	6.000	%		10/01/23		25,636
	5,785	FHLMC Gold Pool #E00903	7.000	%		10/01/15		6,242
	173,457	FHLMC Gold Pool #G01035	6.000	%		05/01/29		192,440
	89,637	FHLMC Gold Pool #G02478	5.500	%		12/01/36		97,500
	100,829	FHLMC Gold Pool #H19018	6.500	%		08/01/37		110,958
	90,991	FHLMC Gold Pool #N30514	5.500	%		11/01/28		97,906
	255,116	FHLMC Gold Pool #P00024	7.000	%		09/01/32		289,435
	15,181	FHLMC Gold Pool #P50031	7.000	%		08/01/18		15,948
	45,121	FHLMC Gold Pool #P50064	7.000	%		09/01/30		50,460
	68,078	FHLMC Pool #1B1291	2.745	%	(1)	11/01/33		70,624
	193,011	FHLMC Pool #1G0233	2.511	%	(1)	05/01/35		203,700
	33,512	FHLMC Pool #781071	5.217	%	(1)	11/01/33		35,823
	29,967	FHLMC Pool #781804	5.060	%	(1)	07/01/34		32,100
	14,975	FHLMC Pool #781884	5.147	%	(1)	08/01/34		16,054
	44,441	FHLMC Pool #782862	5.038	%	(1)	11/01/34		47,641
	204,544	FHLMC, Series 1983, Class Z	6.500	%		12/15/23		235,468
	146,231	FHLMC, Series 2044, Class PE	6.500	%		04/15/28		171,289
	550,000	FHLMC, Series 2627, Class MW	5.000	%		06/15/23		624,554
	96,763	FNMA Pool #253057	8.000	%		12/01/29		113,043
	8,283	FNMA Pool #254845	4.000	%		07/01/13		8,754
	8,752	FNMA Pool #254863	4.000	%		08/01/13		9,241
	16,590	FNMA Pool #479477	6.000	%		01/01/29		18,429
	13,244	FNMA Pool #489357	6.500	%		03/01/29		15,005
	15,455	FNMA Pool #535332	8.500	%		04/01/30		18,187
	30,180	FNMA Pool #545782	7.000	%		07/01/32		34,800
	18,299	FNMA Pool #597396	6.500	%		09/01/31		20,640
	79,644	FNMA Pool #621284	6.500	%		12/01/31		89,832
	37,339	FNMA Pool #725866	4.500	%		09/01/34		39,861
	97,006	FNMA Pool #738630	5.500	%		11/01/33		106,046
	264,905	FNMA Pool #745001	6.500	%		09/01/35		296,473
	168,782	FNMA Pool #745467	5.600	%	(1)	04/01/36		180,535
	296,810	FNMA Pool #745755	5.000	%		12/01/35		320,735
	128,917	FNMA Pool #747529	4.500	%		10/01/33		137,726
	487,176	FNMA Pool #781893	4.500	%		11/01/31		522,248
	43,970	FNMA Pool #809888	4.500	%		03/01/35		46,886
	652,637	FNMA Pool #888366	7.000	%		04/01/37		749,932
	291,670	FNMA Pool #888417	6.500	%		01/01/36		330,438
	51,863	FNMA Pool #906455	5.993	%	(1)	01/01/37		56,064
	81,009	GNMA I Pool #374892	7.000	%		02/15/24		93,868
	27,017	GNMA I Pool #376400	6.500	%		02/15/24		30,800
	37,106	GNMA I Pool #379982	7.000	%		02/15/24		42,995
	142,201	GNMA I Pool #393347	7.500	%		02/15/27		165,911
	54,806	GNMA I Pool #410081	8.000	%		08/15/25		64,438
	33,007	GNMA I Pool #427199	7.000	%		12/15/27		38,393
	1,895	GNMA I Pool #436214	6.500	%		02/15/13		2,083
	36,485	GNMA I Pool #448490	7.500	%		03/15/27		41,899
	45,803	GNMA I Pool #458762	6.500	%		01/15/28		52,975
	36,686	GNMA I Pool #460726	6.500	%		12/15/27		42,431
	14,857	GNMA I Pool #488924	6.500	%		11/15/28		17,183
	12,361	GNMA I Pool #510706	8.000	%		11/15/29		14,651
	32,951	GNMA I Pool #581536	5.500	%		06/15/33		36,623
	94,135	GNMA II Pool #002630	6.500	%		08/20/28		108,401
	4,478	GNMA II Pool #002909	8.000	%		04/20/30		5,296
	11,529	GNMA II Pool #002972	7.500	%		09/20/30		13,486
	4,244	GNMA II Pool #002973	8.000	%		09/20/30		5,021
	41,624	GNMA II Pool #003095	6.500	%		06/20/31		47,932
	293,834	GNMA II Pool #004841	8.000	%		08/20/31		345,427
	943,739	GNMA, Series 2010-44, Class NK	4.000	%		10/20/37		1,016,448

U.S. TREASURIES - 12.2%
$	475,000	U.S. Treasury Bond	6.125	%		11/15/27	$	699,808
	410,000	U.S. Treasury Note	0.750	%		11/30/11		410,512
	340,000	U.S. Treasury Note	1.375	%		04/15/12		342,338
	175,000	U.S. Treasury Note	1.875	%		04/30/14		181,686
	625,000	U.S. Treasury Note	3.250	%		06/30/16		693,897
	20,000	U.S. Treasury Note	2.750	%		11/30/16		21,759
	260,000	U.S. Treasury Note	4.500	%		05/15/17		308,283
	230,000	U.S. Treasury Note	3.125	%		05/15/19		256,270
	685,000	U.S. Treasury Strip	0.000	%	(2)	11/15/30		385,713
	995,000	U.S. Treasury Strip	0.000	%	(2)	08/15/39		424,883

Total U.S. Government Interests (identified cost, $11,165,940)							$	12,033,984

TOTAL FIXED INCOME INVESTMENTS (identified cost, $28,422,439) — 98.9%							$	30,319,865

SHORT-TERM INVESTMENTS - 1.1%
$	341,385	Fidelity Government Money Market Fund, 0.01% (1)					$	341,385

TOTAL SHORT-TERM INVESTMENTS (identified cost, $341,385) — 1.1%							$	341,385

TOTAL INVESTMENTS (identified cost, $28,763,824) — 100.0%							$	30,661,250

OTHER ASSETS, IN EXCESS OF LIABILITIES — 0.0%								930

NET ASSETS — 100.0%							$	30,662,180


FHLMC	Federal Home Loan Mortgage Corporation
FNMA	Federal National Mortgage Association
GNMA	Government National Mortgage Association
LLC	Limited Liability Company
LP	Limited Partnership
MTN	Medium Term Note
PLC	Public Limited Company
(1)	Variable rate security. Rate presented is as of September 30, 2011.
(2)	Rate presented is yield to maturity.

*Cost for federal income tax purposes is substantially the same as for financial statement purposes and net unrealized appreciation consists of:

The Fund has a three-tier fair value hierarchy. The basis of the tiers is dependent upon the various “inputs” used to determine the value of the Fund’s investments. These inputs are summarized in the three broad levels listed below:

Level 1 – quoted prices in active markets for identical assets

Level 2 – other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.)

Level 3 – significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments)

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

The following is a summary of the inputs used to value the Fund’s investments as of September 30, 2011.


		Quoted Prices in				Significant
		Active Markets for		Significant Other		Unobservable
		Identical Assets		Observable Inputs		Inputs
Asset Description		(Level 1)		(Level 2)		(Level 3)		Total
Asset Back Securities	$	-	$	708,118	$	-	$	708,118
Commercial Mortgage-Backed Securities		-		2,702,576		-		2,702,576
Residential Mortgage-Backed Securities		-		55,001		-		55,001
Convertible Bonds		-		133,575		-		133,575
Corporate Bonds		-		14,686,611		-		14,686,611
U.S. Government Interests		-	`	12,033,984		-		12,033,984
Short-Term Investments		-		341,385		-		341,385
Total Investments	$	-	$	30,661,250	$	-	$	30,661,250

The level classification by major category of investments is the same as the category presentation in the Fund’s Portfolio of Investments.

THE PORTFOLIO OF INVESTMENTS SHOULD BE READ IN CONJUNCTION WITH THE FINANCIAL STATEMENTS AND NOTES TO FINANCIAL STATEMENTS WHICH ARE INCLUDED IN THE FUND’S AUDITED ANNUAL REPORT OR SEMI-ANNUAL REPORT. THESE REPORTS INCLUDE ADDITIONAL INFORMATION ABOUT THE FUND’S SECURITY VALUATION POLICIES AND ABOUT CERTAIN SECURITY TYPES INVESTED BY THE FUND.

Wright Current Income Fund (WCIF)

Portfolio of Investments – As of September 30, 2011 (Unaudited)

	Face Amount	Description	Coupon Rate		Maturity Date		Value
FIXED INCOME INVESTMENTS - 96.6%

AGENCY MORTGAGE-BACKED SECURITIES - 96.6%
$	22,257	FHLMC Gold Pool #C00548	7.000	%	08/01/27	$	25,611
	66,032	FHLMC Gold Pool #C00778	7.000	%	06/01/29		76,205
	286,597	FHLMC Gold Pool #C91034	6.000	%	06/01/27		314,603
	50,961	FHLMC Gold Pool #D81642	7.500	%	08/01/27		59,203
	76,549	FHLMC Gold Pool #D82572	7.000	%	09/01/27		88,085
	26,764	FHLMC Gold Pool #E00678	6.500	%	06/01/14		28,199
	28,024	FHLMC Gold Pool #E00721	6.500	%	07/01/14		29,561
	39,335	FHLMC Gold Pool #E81704	8.500	%	05/01/15		43,465
	249,910	FHLMC Gold Pool #G02809	6.500	%	05/01/36		280,339
	293,113	FHLMC Gold Pool #H09054	4.500	%	03/01/37		307,075
	157,815	FHLMC Gold Pool #H09098	6.500	%	10/01/37		173,323
	255,116	FHLMC Gold Pool #P00024	7.000	%	09/01/32		289,435
	238,067	FHLMC Gold Pool #P50019	7.000	%	07/01/24		264,254
	99,455	FHLMC, Series 2176, Class OJ	7.000	%	08/15/29		114,016
	69,316	FHLMC, Series 2201, Class C	8.000	%	11/15/29		84,764
	387,557	FHLMC, Series 2218, Class ZB	6.000	%	03/15/30		439,480
	147,760	FHLMC, Series 2259, Class ZM	7.000	%	10/15/30		173,626
	1,301,986	FHLMC, Series 2586, Class GC	5.500	%	03/15/23		1,515,777
	785,000	FHLMC, Series 3004, Class HK	5.500	%	07/15/35		835,089
	135,000	FHLMC, Series 3217, Class PD	6.000	%	11/15/34		146,498
	203,857	FHLMC-GNMA, Series 15, Class L	7.000	%	07/25/23		212,553
	72,132	FHLMC-GNMA, Series 23, Class KZ	6.500	%	11/25/23		81,663
	129,209	FHLMC-GNMA, Series 4, Class D	8.000	%	12/25/22		148,835
	520,096	FNMA Pool #252034	7.000	%	09/01/28		606,555
	289,732	FNMA Pool #256972	6.000	%	11/01/37		316,641
	39,072	FNMA Pool #535131	6.000	%	03/01/29		43,403
	307,232	FNMA Pool #555417	6.000	%	05/01/33		341,287
	154,082	FNMA Pool #594207	6.500	%	02/01/31		178,018
	325,008	FNMA Pool #655219	3.500	%	08/01/32		335,956
	157,786	FNMA Pool #673315	5.500	%	11/01/32		172,440
	687,633	FNMA Pool #721255	5.500	%	07/01/33		751,711
	778,888	FNMA Pool #725027	5.000	%	11/01/33		841,913
	59,392	FNMA Pool #733750	6.310	%	10/01/32		66,512
	293,959	FNMA Pool #735861	6.500	%	09/01/33		333,031
	530,821	FNMA Pool #745001	6.500	%	09/01/35		594,077
	130,392	FNMA Pool #745630	5.500	%	01/01/29		142,909
	153,956	FNMA Pool #801357	5.500	%	08/01/34		168,255
	161,252	FNMA Pool #813839	6.000	%	11/01/34		179,126
	944,818	FNMA Pool #851655	6.000	%	12/01/35		1,046,888
	128,021	FNMA Pool #871394	7.000	%	04/01/21		140,397
	422,468	FNMA Pool #879922	5.000	%	11/01/35		452,956
	330,131	FNMA Pool #888211	7.000	%	08/01/36		380,586
	131,151	FNMA Pool #888367	7.000	%	03/01/37		150,704
	357,591	FNMA Pool #889649	6.500	%	08/01/37		383,761
	119,604	FNMA Pool #954957	6.000	%	10/01/37		130,712
	266,885	FNMA Pool #995346	6.500	%	09/01/36		298,689
	491,298	FNMA Pool #995656	7.000	%	06/01/33		566,034
	223,000	FNMA, Series 2004-25, Class UC	5.500	%	04/25/34		246,279
	339,858	FNMA, Series 2004-90, Class D	4.000	%	11/25/34		363,736
	205,000	FNMA, Series 2005-106, Class UK	5.500	%	12/25/35		225,637
	250,000	FNMA, Series 2007-116, Class PB	5.500	%	08/25/35		286,073
	226,000	FNMA, Series 2007-76, Class PE	6.000	%	08/25/37		264,245
	800,000	FNMA, Series 2007-81, Class GE	6.000	%	08/25/37		960,583
	155,000	FNMA, Series 2008-86, Class GD	6.000	%	03/25/36		166,380
	390,000	FNMA, Series 2009-96, Class DB	4.000	%	11/25/29		422,624
	637,760	FNMA, Series 2010-12, Class EY	4.000	%	02/25/25		708,401
	413,323	FNMA, Series G92-43, Class Z	7.500	%	07/25/22		486,692
	259,897	FNMA, Series G93-5, Class Z	6.500	%	02/25/23		287,615
	265	GNMA I Pool #176992	8.000	%	11/15/16		267
	880	GNMA I Pool #177784	8.000	%	10/15/16		893
	7,740	GNMA I Pool #192357	8.000	%	04/15/17		7,857
	1,703	GNMA I Pool #194287	9.500	%	03/15/17		1,717
	702	GNMA I Pool #196063	8.500	%	03/15/17		801
	909	GNMA I Pool #212601	8.500	%	06/15/17		924
	1,251	GNMA I Pool #220917	8.500	%	04/15/17		1,427
	2,920	GNMA I Pool #223348	10.000	%	08/15/18		2,944
	4,539	GNMA I Pool #228308	10.000	%	01/15/19		5,295
	2,062	GNMA I Pool #230223	9.500	%	04/15/18		2,079
	2,977	GNMA I Pool #260999	9.500	%	09/15/18		3,495
	4,332	GNMA I Pool #263439	10.000	%	02/15/19		4,369
	1,171	GNMA I Pool #265267	9.500	%	08/15/20		1,391
	1,326	GNMA I Pool #266983	10.000	%	02/15/19		1,563
	650	GNMA I Pool #286556	9.000	%	03/15/20		655
	1,236	GNMA I Pool #301366	8.500	%	06/15/21		1,291
	3,846	GNMA I Pool #302933	8.500	%	06/15/21		4,542
	9,226	GNMA I Pool #308792	9.000	%	07/15/21		10,923
	1,606	GNMA I Pool #314222	8.500	%	04/15/22		1,907
	1,500	GNMA I Pool #315187	8.000	%	06/15/22		1,524
	6,329	GNMA I Pool #315754	8.000	%	01/15/22		6,360
	20,812	GNMA I Pool #319441	8.500	%	04/15/22		23,212
	5,565	GNMA I Pool #325165	8.000	%	06/15/22		6,476
	6,680	GNMA I Pool #335950	8.000	%	10/15/22		7,541
	99,799	GNMA I Pool #346987	7.000	%	12/15/23		115,321
	43,866	GNMA I Pool #352001	6.500	%	12/15/23		49,901
	13,899	GNMA I Pool #352110	7.000	%	08/15/23		16,061
	43,386	GNMA I Pool #368238	7.000	%	12/15/23		50,134
	23,206	GNMA I Pool #372379	8.000	%	10/15/26		24,919
	39,585	GNMA I Pool #399726	7.490	%	05/15/25		46,172
	95,042	GNMA I Pool #399788	7.490	%	09/15/25		110,859
	26,954	GNMA I Pool #399958	7.490	%	02/15/27		31,526
	25,486	GNMA I Pool #399964	7.490	%	04/15/26		29,749
	44,906	GNMA I Pool #410215	7.500	%	12/15/25		52,395
	4,090	GNMA I Pool #414736	7.500	%	11/15/25		4,773
	19,899	GNMA I Pool #420707	7.000	%	02/15/26		23,094
	13,203	GNMA I Pool #421829	7.500	%	04/15/26		15,417
	3,474	GNMA I Pool #431036	8.000	%	07/15/26		3,832
	13,547	GNMA I Pool #431612	8.000	%	11/15/26		13,772
	4,498	GNMA I Pool #442190	8.000	%	12/15/26		5,298
	45,735	GNMA I Pool #448970	8.000	%	08/15/27		54,019
	8,203	GNMA I Pool #449176	6.500	%	07/15/28		9,487
	20,893	GNMA I Pool #462623	6.500	%	03/15/28		24,165
	103,285	GNMA I Pool #471369	5.500	%	05/15/33		114,795
	247,733	GNMA I Pool #487108	6.000	%	04/15/29		278,436
	128,882	GNMA I Pool #489377	6.375	%	03/15/29		147,970
	392,163	GNMA I Pool #503405	6.500	%	04/15/29		453,572
	132,252	GNMA I Pool #509930	5.500	%	06/15/29		147,279
	244,723	GNMA I Pool #509965	5.500	%	06/15/29		272,530
	14,521	GNMA I Pool #538314	7.000	%	02/15/32		17,025
	91,582	GNMA I Pool #595606	6.000	%	11/15/32		102,660
	14,518	GNMA I Pool #602377	4.500	%	06/15/18		15,658
	18,555	GNMA I Pool #603377	4.500	%	01/15/18		20,012
	163,923	GNMA I Pool #615403	4.500	%	08/15/33		179,449
	118,759	GNMA I Pool #616829	5.500	%	01/15/25		132,513
	108,036	GNMA I Pool #623190	6.000	%	12/15/23		120,964
	349,934	GNMA I Pool #624600	6.150	%	01/15/34		402,586
	69,432	GNMA I Pool #640940	5.500	%	05/15/35		77,429
	30,687	GNMA I Pool #658267	6.500	%	02/15/22		33,872
	841,660	GNMA I Pool #711286	6.500	%	10/15/32		957,632
	33,131	GNMA I Pool #780429	7.500	%	09/15/26		38,656
	195,752	GNMA I Pool #780492	7.000	%	09/15/24		224,885
	98,775	GNMA I Pool #780685	6.500	%	12/15/27		112,451
	113,387	GNMA I Pool #780977	7.500	%	12/15/28		135,984
	284,596	GNMA I Pool #781120	7.000	%	12/15/29		331,538
	21,594	GNMA II Pool #000723	7.500	%	01/20/23		24,752
	1,748	GNMA II Pool #001596	9.000	%	04/20/21		2,062
	24,302	GNMA II Pool #002268	7.500	%	08/20/26		28,243
	83,525	GNMA II Pool #002442	6.500	%	06/20/27		94,956
	3,638	GNMA II Pool #002855	8.500	%	12/20/29		4,383
	114,784	GNMA II Pool #003284	5.500	%	09/20/32		128,104
	78,040	GNMA II Pool #003401	4.500	%	06/20/33		85,456
	432,879	GNMA II Pool #003403	5.500	%	06/20/33		482,842
	115,468	GNMA II Pool #003554	4.500	%	05/20/34		126,188
	524,177	GNMA II Pool #003556	5.500	%	05/20/34		584,350
	305,931	GNMA II Pool #003689	4.500	%	03/20/35		334,143
	762,801	GNMA II Pool #003931	6.000	%	12/20/36		853,495
	38,163	GNMA II Pool #004149	7.500	%	05/20/38		44,350
	1,284,893	GNMA II Pool #004260	6.000	%	10/20/38		1,395,958
	675,201	GNMA II Pool #004291	6.000	%	11/20/38		753,370
	447,387	GNMA II Pool #004308	5.000	%	12/20/38		479,364
	361,347	GNMA II Pool #004412	5.000	%	04/20/39		393,273
	751,841	GNMA II Pool #004561	6.000	%	10/20/39		840,460
	647,962	GNMA II Pool #004751	7.000	%	12/20/38		752,911
	165,578	GNMA II Pool #004752	7.500	%	11/20/38		194,371
	482,234	GNMA II Pool #004753	8.000	%	08/20/30		567,604
	575,021	GNMA II Pool #004805	6.500	%	09/20/40		653,002
	188,125	GNMA II Pool #004808	8.000	%	01/20/31		222,252
	1,051,631	GNMA II Pool #004838	6.500	%	10/20/40		1,194,247
	1,232,026	GNMA II Pool #004848	3.500	%	11/20/40		1,279,024
	369,824	GNMA II Pool #004993	7.000	%	03/20/41		429,673
	95,309	GNMA II Pool #575787	5.760	%	03/20/33		106,250
	102,911	GNMA II Pool #608120	6.310	%	01/20/33		115,340
	292,850	GNMA II Pool #610116	5.760	%	04/20/33		326,834
	68,625	GNMA II Pool #610143	5.760	%	06/20/33		76,503
	231,955	GNMA II Pool #612121	5.760	%	07/20/33		258,583
	220,894	GNMA II Pool #648541	6.000	%	10/20/35		247,122
	1,161,689	GNMA II Pool #719213	6.500	%	02/20/33		1,337,564
	814,950	GNMA, Series 1998-21, Class ZB	6.500	%	09/20/28		940,053
	181,406	GNMA, Series 1999-25, Class TB	7.500	%	07/16/29		221,463
	702,261	GNMA, Series 1999-4, Class ZB	6.000	%	02/20/29		798,757
	271,808	GNMA, Series 2000-14, Class PD	7.000	%	02/16/30		320,242
	210,933	GNMA, Series 2001-4, Class PM	6.500	%	03/20/31		245,607
	265,626	GNMA, Series 2002-22, Class GF	6.500	%	03/20/32		307,748
	181,040	GNMA, Series 2002-40, Class UK	6.500	%	06/20/32		210,602
	143,511	GNMA, Series 2002-45, Class QE	6.500	%	06/20/32		165,487
	231,960	GNMA, Series 2002-6, Class GE	6.500	%	01/20/32		261,192
	116,954	GNMA, Series 2002-7, Class PG	6.500	%	01/20/32		133,086
	381,214	GNMA, Series 2002-76, Class EA	4.500	%	12/20/29		413,534
	716,438	GNMA, Series 2002-76, Class TC	4.500	%	12/16/26		804,155
	214,000	GNMA, Series 2003-103, Class PC	5.500	%	11/20/33		252,124
	192,000	GNMA, Series 2003-2, Class AG	5.000	%	01/20/33		209,054
	154,000	GNMA, Series 2003-46, Class HA	4.500	%	06/20/33		173,988
	232,914	GNMA, Series 2005-17, Class GE	5.000	%	02/20/35		260,150
	100,000	GNMA, Series 2005-93, Class BH	5.500	%	06/20/35		117,427
	120,000	GNMA, Series 2007-18, Class B	5.500	%	05/20/35		130,603
	300,000	GNMA, Series 2008-35, Class EH	5.500	%	03/20/38		354,556
	157,000	GNMA, Series 2009-47, Class LT	5.000	%	06/20/39		181,265
	2,000,000	GNMA, Series 2010-116, Class PB	5.000	%	06/16/40		2,284,438
	329,563	Vendee Mortgage Trust, Series 1996-1, Class 1Z	6.750	%	02/15/26		389,825
	269,993	Vendee Mortgage Trust, Series 1998-1, Class 2E	7.000	%	03/15/28		321,151

Total Agency Mortgage-Backed Securities (identified cost, $45,156,424)						$	47,784,264

TOTAL FIXED INCOME INVESTMENTS (identified cost, $45,156,424) — 96.6%						$	47,784,264

SHORT-TERM INVESTMENTS - 3.3%
$	1,665,274	Fidelity Government Money Market Fund, 0.01% (1)				$	1,665,274

TOTAL SHORT-TERM INVESTMENTS (identified cost, $1,665,274) — 3.3%						$	1,665,274

TOTAL INVESTMENTS (identified cost, $46,821,698) — 99.9%						$	49,449,538

OTHER ASSETS, IN EXCESS OF LIABILITIES — 0.1%							31,624

NET ASSETS — 100.0%						$	49,481,162


FHLMC	Federal Home Loan Mortgage Corporation
FNMA	Federal National Mortgage Association
GNMA	Government National Mortgage Association
(1)	Variable rate security. Rate presented is as of September 30, 2011.

*Cost for federal income tax purposes is substantially the same as for financial statement purposes and net unrealized appreciation consists of:

Level 1 – quoted prices in active markets for identical assets

Level 2 – other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.)

Level 3 – significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments)

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

The following is a summary of the inputs used to value the Fund’s investments as of September 30, 2011.


		Quoted Prices in				Significant
		Active Markets for		Significant Other		Unobservable
		Identical Assets		Observable Inputs		Inputs
Asset Description		(Level 1)		(Level 2)		(Level 3)		Total
Agency Mortgage-Backed Securities	$	-	$	47,784,264	$	-	$	47,784,264
Short-Term Investments		-		1,665,274		-		1,665,274
Total Investments	$	-	$	49,449,538	$	-	$	49,449,538

The level classification by major category of investments is the same as the category presentation in the Fund’s Portfolio of Investments.

Item 2. Controls and Procedures.

(a) It is the conclusion of the registrant’s principal executive officer and principal financial officer that the effectiveness of the registrant’s current disclosure controls and procedures (such disclosure controls and procedures having been evaluated within 90 days of the date of this filing) provide reasonable assurance that the information required to be disclosed by the registrant has been recorded, processed, summarized and reporting within the time period specified in the Commission’s rules and forms and that the information required to be disclosed by the registrant has been accumulated and communicated to the registrant’s principal executive officer and principal financial officer in order to allow timely decisions regarding required disclosure.

(b) There have been no significant changes in the registrant’s internal controls or in other factors that could significantly affect these controls subsequent to the date of their evaluation, including any corrective actions with regard to significant deficiencies and material weaknesses.

Item 3. Exhibits

Certification of Principal Executive Officer and Principal Financial Officer of the registrant as required by Rule 30a-2(a) under the Investment Company Act of 1940 (17CFR 270.30a-2(a)) is attached hereto as Exhibit 99Cert.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

The Wright Managed Income Trust (On behalf of Wright Current Income Fund and Wright Total Return Bond Fund)


	By:	/s/ Peter M. Donovan
		Peter M. Donovan
		President

	Date:	October 20, 2011

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.


	By:	/s/ Peter M. Donovan
		Peter M. Donovan
		President

	Date:	October 20, 2011


	By:	/s/ Michael J. McKeen
		Michael J. McKeen
		Treasurer

	Date:	October 20, 2011