13F-HR 1 sept04.txt SEPTEMBER 30, 2004 13F-HR Form 13F Holdings Report UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM13F FORM 13F COVER PAGE Report for the Calendar Year or Quarter Ended: June 30, 2004 Check here if Amendment [ ]; Amendment Number: This Amendment (Check only one.): [ ] is a restatement. [ ] adds new holdings entries. Institutional Investment Manager Filing this Report: Name: Penn Mutual Life Insurance Company Address: Independence Square Philadelphia, PA 19172 13F File Number: 28-598 The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form. Person Signing this Report on Behalf of Reporting Manager: Name: Ann Strootman Title: Vice President & Controller Phone: 215-956-7649 Signature, Place, and Date of Signing: Ann Strootman Philadelphia, PA June 30, 2004 Report Type (Check only one.): [ X] 13F HOLDINGS REPORT. [ ] 13F NOTICE. [ ] 13F COMBINATION REPORT. List of Other Managers Reporting for this Manager: I AM SIGNING THIS REPORT AS REQUIRED BY THE SECURITIES EXCHANGE ACT OF 1934. FORM 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 2 Form 13F Information Table Entry Total: 654 Form 13F Information Table Value Total: $537,362,441 List of Other Included Managers: No. 13F File Number Name 01 28-598 INDEPENDENCE CAPITAL MTG. INC. 02 28-2959 ADDISON CAPITAL MANAGEMENT FORM 13F SPECIAL ELECTRONIC FILING INSTRUCTIONS Continued FORM 13F INFORMATION TABLE VALUE SHARES/ SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE ----------------------------- -------------- --------- -------- -------- --- ----- ------- --------- -------- -------- ----- NUVEEN MUN VALUE FD INC COM * 6709281 148 16115 SH SHARE 01 16115 SAFEGUARD SCIENTIFIC 5.000% 6 COM * 786449A 651 649000 SH SHARE 01 649000 41 COMMON STOCK COM 0 166208 5331746 SH SHARE 01 5331746 ABN AMRO BANK NV CHICAGO COM 00077QAB6 555 5000 SH SHARE 5000 AFLAC INC COM 001055102 274 7000 SH SHARE 7000 AES CORP COM 00130H105 206 20575 SH SHARE 20575 AES CORPORATION COM 00130HBC8 1038 10000 SH SHARE 10000 AIM GROWTH SER ^* COM 00141M812 257 9076 SH SHARE 9076 AOL TIME WARNER INC COM 00184AAE5 1597 15000 SH SHARE 15000 AT&T CORP NEW COM 001957505 593 41400 SH SHARE 41400 AT & T CORPORATION COM 001957AQ2 512 5000 SH SHARE 5000 AT & T CORP COM 001957AV1 5596 55000 SH SHARE 55000 ABBOTT LABS COM COM 002824100 2105 49685 SH SHARE 01 49685 ABBOTT LABORATORIES COM 002824100 317 7475 SH SHARE 7475 ABBOTT LABS 6.800% COM 002824AG5 103 100000 SH SHARE 01 100000 ABBOTT LABS 3.500% COM 002824AN0 188 190000 SH SHARE 01 190000 ABERDEEN GLOBAL INCOME COM 003013109 277 21047 SH SHARE 21047 ABINGTON HEIGHTS PA 4.250% COM 003508GL6 26 25000 SH SHARE 01 25000 ABINGTON HEIGHTS PA 4.350% COM 003508GM4 52 50000 SH SHARE 01 50000 ABINGTON PA 4.750% COM 003554KX9 53 50000 SH SHARE 01 50000 ABINGTON PA SCH DIST COM 003554MA7 2556 25000 SH SHARE 25000 ABINGTON TWP PA 3.900% COM 003626NQ7 26 25000 SH SHARE 01 25000 ABINGTON TWP PA 4.000% COM 003626NR5 84 80000 SH SHARE 01 80000 ABINGTON TWP PA 4.250% COM 003626NT1 52 50000 SH SHARE 01 50000 ADAMS CNTY PA 4.000% COM 006115ES4 302 300000 SH SHARE 01 300000 ADAMS CNTY PA 4.300% COM 006115EU9 86 85000 SH SHARE 01 85000 ADAPTEC INC COM 00651F108 182 23900 SH SHARE 23900 ADESA INCORPORATED COM 00686U104 167 10135 SH SHARE 10135 AETNA INC 6.750% COM 008117AD5 132 120000 SH SHARE 01 120000 AETNA INC COM 008117AD5 2224 20000 SH SHARE 20000 AETNA INC COM 008117AG8 4073 35000 SH SHARE 35000 AETNA INC COM 00817YAB4 950 8000 SH SHARE 8000 AIR PRODUCTS & CHEMICALS COM 009158106 272 5000 SH SHARE 5000 ALABAMA HSG FINA AUTH COM 01030NHD6 1044 10000 SH SHARE 10000 ALABAMA ST PUB SCH & COM 010608SA6 5061 50000 SH SHARE 50000 ALABAMA ST 4.250% COM 010608SZ1 20 20000 SH SHARE 01 20000 ALACHUA CNTY FL 3.500% COM 010680DF0 102 100000 SH SHARE 01 100000 ALASKA INDL DV&EXPT ATH COM 011710GP9 1056 10000 SH SHARE 10000 ALASKA ST HFC SER A RFDG COM 011831YP3 1047 10000 SH SHARE 10000 ALASKA ST HFC SER A RFDG COM 011831ZK3 1549 15000 SH SHARE 15000 ALBERTO-CULVER COMPANY COM 013068101 1098 25255 SH SHARE 25255 ALCOA INC COM 013817101 1222 36374 SH SHARE 01 36374 ALCOA INC COM 013817101 1026 30549 SH SHARE 30549 ALLEGHENY LUDLUM 6.950% COM 016900AC6 95 100000 SH SHARE 01 100000 ALLEGHENY-CLARION PA 4.200% COM 017275BY3 51 50000 SH SHARE 01 50000 ALLEGHENY CNTY PA 5.000% COM 0172857K7 274 250000 SH SHARE 01 250000 ALLEGHENY CNTY PA 5.300% COM 0172857Q4 28 25000 SH SHARE 01 25000 ALLEGHENY CO PA ARPT RV COM 017286EJ0 11011 100000 SH SHARE 100000 ALLGHENY CNTY PA 5.250% COM 017286ER2 21 20000 SH SHARE 01 20000 ALLEGHENY CNTY PA HOSP COM 01728AVH6 1049 10000 SH SHARE 10000 ALLEGHENY CNTY PA ARPT COM 01728LAK8 1102 10000 SH SHARE 10000 ALLEGHENY CNTY PA 4.300% COM 01728NAF5 52 50000 SH SHARE 01 50000 ALLEGHENY CNTY PA 5.000% COM 01728RAS8 26 25000 SH SHARE 01 25000 ALLEGHENY CNTY PA 4.000% COM 01730GBE8 51 50000 SH SHARE 01 50000 ALLEGHENY CNTY PA Z-CPN COM 017357MS0 19 30000 SH SHARE 01 30000 ALLEGHENY CNTY PA 5.000% COM 017357SR6 96 90000 SH SHARE 01 90000 ALLENTOWN PA REF 5.000% COM 0183393Q2 103 100000 SH SHARE 01 100000 ALLENTOWN PA 4.875% COM 018447DC3 43 40000 SH SHARE 01 40000 ALLENTOWN PA WTR RV GTD COM 018479GM1 3140 30000 SH SHARE 30000 ALLIANCEBERNSTEIN ^* COM 01853W105 436 59286 SH SHARE 59286 ALLIANCEBERNSTEIN ^* COM 01853W204 81 11007 SH SHARE 11007 ALLIANCEBERNSTEIN ^* COM 01864E821 126 12043 SH SHARE 12043 ALLIANCE RES PARTNERS LP COM 01877R108 732 13150 SH SHARE 13150 ALLIED CAPITAL CORP NEW COM 01903Q108 220 9025 SH SHARE 9025 ALLSTATE CORP COM 020002101 305 6346 SH SHARE 01 6346 ALLSTATE CORP COM 020002101 670 13968 SH SHARE 13968 ALLSTATE CORP 7.5% COM 020002AC5 232 195000 SH SHARE 01 195000 ALPHA PRO TECH LTD COM 020772109 202 130000 SH SHARE 130000 ALTOONA PA 5.000% COM 021789DH2 184 200000 SH SHARE 01 200000 ALTOONA PA 4.625% COM 021789DV1 16 15000 SH SHARE 01 15000 ALTOONA PA 4.625% COM 021789EG3 41 40000 SH SHARE 01 40000 ALTOONA PA 6.400% COM 021861FH7 41 40000 SH SHARE 01 40000 ALTRIA GROUP INC COM 02209S103 1484 31549 SH SHARE 01 31549 ALTRIA GROUP INC COM 02209S103 1918 40769 SH SHARE 40769 AMBASE CORP COM 023164106 9 10000 SH SHARE 10000 AMCORE BANK NA STEP COM 02341VHK4 2509 25000 SH SHARE 25000 AMERICAN CENTY FDS ^* COM 02507M840 227 24913 SH SHARE 24913 AMERICAN EXPRESS CO COM COM 025816109 408 7925 SH SHARE 01 7925 AMERICAN EXPRESS COMPANY COM 025816109 2078 40385 SH SHARE 40385 AMERICAN EXPRESS CO 3.750% COM 025816AP4 298 295000 SH SHARE 01 295000 AMERICAN GEN FIN CORP COM 02635PSA2 46400 450000 SH SHARE 450000 AMER GENL FIN MTN 4.050% COM 02639EAM6 230 235000 SH SHARE 01 235000 AMERICAN HOME PRODS 7.250% COM 026609AC1 137 126000 SH SHARE 01 126000 AMERICAN INTL GROUP INC COM 026874107 3127 45999 SH SHARE 01 45999 AMERICAN INTL GROUP INC COM 026874107 4411 64882 SH SHARE 64882 AMER INTL GROUP 2.875% COM 026874AR8 205 210000 SH SHARE 01 210000 AMERICAN RETIREMENT CORP COM 028913101 136 17806 SH SHARE 01 17806 AMERICAN STANDARD COM 029712106 1018 26167 SH SHARE 26167 AMGEN INC COM COM 031162100 725 12755 SH SHARE 01 12755 AMGEN INC COM 031162100 3806 67000 SH SHARE 67000 AMKOR TECHNOLOGY INC COM 031652100 51 14000 SH SHARE 14000 ANADARKO PETROLEUM CORP COM 032511107 769 11584 SH SHARE 11584 ANALOG DEVICES INC COM 032654105 567 14625 SH SHARE 14625 ANDOVER MA B/E COM 034285XE1 2132 20000 SH SHARE 20000 ANDOVER MA B/E COM 034285ZD1 5365 50000 SH SHARE 50000 ANHEUSER BUSCH COS INC COM 035229103 1059 21195 SH SHARE 21195 ANHEUSER BUSCH COS INC COM 035229BN2 1115 10000 SH SHARE 10000 ANHEUSER BUSCH COS 5.750% COM 035229CD3 54 50000 SH SHARE 01 50000 ANHEUSER BUSCH COS INC COM 035229CP6 2497 25000 SH SHARE 25000 ANHEUSER BUSCH COS INC COM 03522QAC9 2715 25000 SH SHARE 25000 ANNE ARUNDEL CNTY MD COM 03588EKD4 2763 25000 SH SHARE 25000 ANSON TX EDFC STDNT HSG COM 036474AP9 2449 25000 SH SHARE 25000 ANSON TX ED FAC CRP SH COM 036474BB9 5067 50000 SH SHARE 50000 ANSONIA CT B/E FGIC COM 036519LE4 5344 50000 SH SHARE 50000 ANTHEM INC COM 03674B104 695 7960 SH SHARE 01 7960 APACHE CORP COM 037411105 3910 78025 SH SHARE 78025 APOLLO GROUP INC COM 037604105 248 3374 SH SHARE 01 3374 APOLLO GROUP INC CL A COM 037604105 753 10265 SH SHARE 10265 APPLIED MATERIALS INC COM 038222105 414 25100 SH SHARE 25100 APPLIED MATLS INC 7.125% COM 038222AD7 380 325000 SH SHARE 01 325000 AQUA AMERICA INC COM 03836W103 274 12390 SH SHARE 01 12390 AQUA AMERICA INC COM 03836W103 4621 208987 SH SHARE 208987 ARCH COAL INC COM 039380100 286 8050 SH SHARE 8050 ARLINGTON MA MBIA B/E COM 041609NG9 3648 35000 SH SHARE 35000 ARMSTRONG PA 4.750% COM 042467EL0 47 45000 SH SHARE 01 45000 AROTECH CORP COM 042682104 17 11000 SH SHARE 11000 ARTESIAN RES CORP CL A COM 043113208 409 15054 SH SHARE 15054 ASSOCIATES CORP N.A. 6.375% COM 046003FM6 177 170000 SH SHARE 01 170000 ATLANTA GA ARPT REV COM 04780MBS7 4730 45000 SH SHARE 45000 ATLANTA GA HSG ATH M/F COM 047812AD4 1532 15000 SH SHARE 15000 ATLANTA GA 5.875% COM 047825LT9 51 50000 SH SHARE 01 50000 ATLANTIC CNTY N J 5.100% COM 048483RY9 110 100000 SH SHARE 01 100000 ATLANTIC CNTY NJ 4.250% COM 048483SP7 187 175000 SH SHARE 01 175000 AUBURN N Y CITY SD REF COM 050555LF6 7575 75000 SH SHARE 75000 AUTOMATIC DATA PROCESSING INC COM 053015103 600 14530 SH SHARE 01 14530 AUTOMATIC DATA PROCESSNG COM 053015103 462 11174 SH SHARE 11174 AUTOZONE INC 5.500% COM 053332AF9 144 150000 SH SHARE 01 150000 AVALON BORO NJ 4.250% COM 053375JK8 53 50000 SH SHARE 01 50000 AVON GROVE PA 4.100% COM 054055MJ4 102 100000 SH SHARE 01 100000 AVON GROVE PA 3.600% COM 054055QA9 45 45000 SH SHARE 01 45000 BB&T CORP COM 054937107 1833 46186 SH SHARE 46186 AXEDA SYS INC COM 054959101 6 13064 SH SHARE 01 13064 BAC CAPITAL TR II PFD COM 055188205 226 8550 SH SHARE 8550 BHP FINANCE LTD 6.75% COM 055450AE0 46 40000 SH SHARE 01 40000 BP AMOCO PLC SPONS ADR COM 055622104 3171 55121 SH SHARE 01 55121 BP PLC SPONS ADR COM 055622104 926 16096 SH SHARE 16096 BP CAPITAL PLC 2.625% COM 05565QAH1 307 310000 SH SHARE 01 310000 BAKER HUGHES INC COMMON COM 057224107 932 21320 SH SHARE 01 21320 BAKER J INCORPORATED XXX COM 0572329A0 0 20000 SH SHARE 20000 BALD EAGLE PA 2.100% COM 057700FH4 50 50000 SH SHARE 01 50000 BALDWIN&WHITEHALL PA 4.400% COM 058363VE9 51 50000 SH SHARE 01 50000 BALDWIN WHITEHALL PA 3.500% COM 058363XM9 50 50000 SH SHARE 01 50000 BALTIMORE CNTY MD CONS COM 059132XH8 10676 100000 SH SHARE 100000 BALTIMORE CNTY MD REF COM 059132Y53 2004 20000 SH SHARE 20000 BALTIMORE CNTY MD COM 059146AU4 2136 20000 SH SHARE 20000 BALTIMORE G & E MTN 8.750% COM 059165CL2 55 50000 SH SHARE 01 50000 BALTIMORE GAS MTN 6.730% COM 05916MAD5 112 100000 SH SHARE 01 100000 BALTIMORE MD FGIC MATY COM 059185ZB7 2593 30000 SH SHARE 30000 BALTIMORE MD POLLUTN CTL COM 059228AV8 3778 35000 SH SHARE 35000 BALTIMORE MD CITY BOARD COM 05923LAE6 4013 40000 SH SHARE 40000 BANK AMERICA MTG SEC INC COM 05948XLW9 2490 25000 SH SHARE 25000 BANK OF AMERICA MTG SECS COM 05949AAC4 2923 30000 SH SHARE 30000 BANCO SANTANDER CD 6.000% COM 059646BY4 100 100000 SH SHARE 01 100000 BANGOR PA AREA SCH DIST COM 060205DW8 1053 10000 SH SHARE 10000 BANGOR PA 4.550% COM 060205EV9 105 100000 SH SHARE 01 100000 BANK OF AMERICA CORP COM 060505104 3123 72078 SH SHARE 01 72078 BANK OF AMERICA CORP COM 060505104 2924 67486 SH SHARE 67486 BANK OF AMERICA 5.125% COM 060505AU8 51 50000 SH SHARE 01 50000 BANK OF AMERICA 3.875% COM 060505AW4 101 100000 SH SHARE 01 100000 BANK OF AMERICA 4.875% COM 060505AX2 76 75000 SH SHARE 01 75000 BANK OF AMERICA CORP COM 060505BC7 2475 25000 SH SHARE 25000 BANK OF AMERICA CORP COM 060505BF0 17738 175000 SH SHARE 175000 BANK OF AMERICA CORP 3.375% COM 060505BH6 285 290000 SH SHARE 01 290000 BANK OF AMERICA CORP COM 060505BH6 1481 15000 SH SHARE 15000 BANK OF AMERICA COM 06050XAR4 811 8000 SH SHARE 8000 BANK OF AMER CRP MTN 6.500% COM 06050XAS2 193 175000 SH SHARE 01 175000 BANK OF AMERICA CORP COM 06050XBP7 2045 20000 SH SHARE 20000 BANK OF AMERICA COM 06050XCW1 2620 25000 SH SHARE 25000 BANK OF AMERICA COM 06050XDL4 2540 25000 SH SHARE 25000 BANK OF AMERICA COM 06050XEC3 1050 10000 SH SHARE 10000 BANK OF AMERICA COM 06050XED1 1011 10000 SH SHARE 10000 BANK OF AMERICA COM 06050XEY5 2736 27000 SH SHARE 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SH SHARE 01 100000 ENTERGY LA INC 6.500% COM 29364MAA8 102 100000 SH SHARE 01 100000 EPHRATA BORO PA 3.400% COM 294169BP1 100 100000 SH SHARE 01 100000 EPHRATA PA AREA SCH 4.150% COM 294223JH6 51 50000 SH SHARE 01 50000 EQUITABLE LIFE ASSUR 7.700% COM 29452PAB2 120 100000 SH SHARE 01 100000 EQUITY OFFICE PPTYS TR COM COM 294741103 291 10675 SH SHARE 01 10675 ERIE CNTY PA 3.750% COM 295173JA7 103 100000 SH SHARE 01 100000 ERIE CNTY PA 4.400% COM 295200QP7 25 25000 SH SHARE 01 25000 ERIE PA 4.700% COM 295533HH9 75 70000 SH SHARE 01 70000 ERIE PA SWR AUTH SWR 5.125% COM 295533HR7 53 50000 SH SHARE 01 50000 ERIE PA Z-CPN COM 295542ET7 37 90000 SH SHARE 01 90000 ESCAMBIA CNTY FL HSG FIN COM 296122QW7 1562 15000 SH SHARE 15000 ESSEX CNTY NJ 5.000% COM 2968033M9 81 75000 SH SHARE 01 75000 ESSEX CNTY NJ U/A/S 4.875% COM 296816AZ4 158 150000 SH SHARE 01 150000 EWING NJ 3.400% COM 300569EX4 25 25000 SH SHARE 01 25000 EXCHANGE NATL BK COM 301335W43 1316 15000 SH SHARE 15000 EXELON CORP COM 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SH SHARE 01 150000 FHLMC 4.750% COM 3128X0BD0 373 375000 SH SHARE 01 375000 FEDL HOME LOAN MTG CORP COM 3128X0DF3 5001 50000 SH SHARE 50000 FEDL HOME LOAN MTG CORP COM 3128X0GY9 5002 50000 SH SHARE 50000 FHLMC MED TERM NOTE 5.000% COM 3128X0K57 101 100000 SH SHARE 01 100000 FHLMC MTN 5.200% COM 3128X0NF2 130 130000 SH SHARE 01 130000 FHLMC MTN 5.000% COM 3128X0ZM4 40 40000 SH SHARE 01 40000 FHLMC MTN 5.125% COM 3128X1AR8 627 625000 SH SHARE 01 625000 FEDL HOME LOAN MTG CORP COM 3128X1C47 9504 95000 SH SHARE 95000 FHLMC MTN 5.000% COM 3128X1CW5 98 100000 SH SHARE 01 100000 FHLMC MTN 5.000% COM 3128X1DJ3 195 200000 SH SHARE 01 200000 FED HOME LOAN MTG CORP COM 3128X1EJ2 4849 50000 SH SHARE 50000 FHLMC 4.000% COM 3128X1KG1 38 40000 SH SHARE 01 40000 FEDL HOME LOAN MTG CORP COM 3128X1LV7 989 10000 SH SHARE 10000 FED HOME LN MTG CORP COM 3128X1QV2 2420 25000 SH SHARE 25000 FHLMC MTN 4.000% COM 3128X1R90 50 50000 SH SHARE 01 50000 FHLMC MTN 5.000% COM 3128X1RM1 246 250000 SH SHARE 01 250000 FHLMC MTN 4.650% COM 3128X1YM3 50 50000 SH SHARE 01 50000 FHLMC MTN 5.450% COM 3128X1YT8 125 125000 SH SHARE 01 125000 FHLMC MTN 5.000% COM 3128X22B0 198 200000 SH SHARE 01 200000 FHLMC MTN 5.375% COM 3128X24F9 250 250000 SH SHARE 01 250000 FHLMC MTN 5.250% COM 3128X24U6 199 200000 SH SHARE 01 200000 FHLMC MTN 5.500% COM 3128X25P6 100 100000 SH SHARE 01 100000 FEDL HOME LOAN MTG CORP COM 3128X26A8 5944 60000 SH SHARE 60000 FHLMC MTN 2.250% COM 3128X2BW4 50 50000 SH SHARE 01 50000 FHLMC MTN VAR-CPN COM 3128X2DC6 265 265000 SH SHARE 01 265000 FHLMC MTN 4.000% COM 3128X2DT9 180 180000 SH SHARE 01 180000 FEDL HOME LOAN MTG CORP COM 3128X2FG5 15105 150000 SH SHARE 150000 FEDL HOME LOAN MTG CORP COM 3128X2FJ9 5006 50000 SH SHARE 50000 FHLMC MTN 2.910% COM 3128X2FP5 50 50000 SH SHARE 01 50000 FHLMC MTN VAR-CPN COM 3128X2FT7 25 25000 SH SHARE 01 25000 FEDL HOME LOAN MTG CORP COM 3128X2JW6 1001 10000 SH SHARE 10000 FHLMC MTN 5.000% COM 3128X2K61 289 300000 SH SHARE 01 300000 FHLMC MTN 5.500% COM 3128X2MH5 101 100000 SH SHARE 01 100000 FHLMC MTN 5.500% COM 3128X2ML6 201 200000 SH SHARE 01 200000 FEDL HOME LOAN MTG CORP COM 3128X2NM3 75959 750000 SH SHARE 750000 FHLMC MTN 5.000% COM 3128X2NU5 515 515000 SH SHARE 01 515000 FHLMC MTN 5.310% COM 3128X2P66 100 100000 SH SHARE 01 100000 FEDL HOME LOAN MTG CORP COM 3128X2PW9 55178 550000 SH SHARE 550000 FHLMC MTN 5.250% COM 3128X2QV0 126 125000 SH SHARE 01 125000 FHLMC MTN 5.000% COM 3128X2T21 148 150000 SH SHARE 01 150000 FHLMC MTN 6.000% COM 3128X2TQ8 200 200000 SH SHARE 01 200000 FHLMC MTN 5.000% COM 3128X2V44 135 135000 SH SHARE 01 135000 FEDL HOME LOAN MTG CORP COM 3128X2V69 981 10000 SH SHARE 10000 FHLMC 2.000% COM 3128X2ZC2 50 50000 SH SHARE 01 50000 FHLMC MTN 5.125% COM 3128X2ZN8 248 250000 SH SHARE 01 250000 FHLMC MTN 5.000% COM 3128X3AW3 515 515000 SH SHARE 01 515000 FHLMC 4.700% COM 3128X3HF3 142 140000 SH SHARE 01 140000 FEDL HOME LOAN MTG CORP COM 3128X3HM8 35773 350000 SH SHARE 350000 FHLMC MTN 5.125% COM 3128X3RB1 40 40000 SH SHARE 01 40000 FEDL HOME LOAN MTG CORP COM 3128X3RF2 1004 10000 SH SHARE 10000 FEDL HOME LOAN MTG CORP COM 3128X3SD6 8556 85000 SH SHARE 85000 FHLMC MTN VAR-CPN COM 3128X3SQ7 241 240000 SH SHARE 01 240000 FHLMC MTN 5.250% COM 3128X3XW8 299 300000 SH SHARE 01 300000 FEDL HOME LOAN MTG CORP COM 312916AM1 2080 20000 SH SHARE 20000 FHLMC MTN 4.000% COM 3129254L1 250 250000 SH SHARE 01 250000 FHLMC MTN 4.800% COM 3129257B0 126 125000 SH SHARE 01 125000 FHLMC MTN 6.000% COM 312925TV2 156 150000 SH SHARE 01 150000 FFCB 4.600% COM 31331LA32 207 200000 SH SHARE 01 200000 FEDL FARM CREDIT BANK COM 31331LK49 10184 100000 SH SHARE 100000 FEDL FARM CREDIT BANK COM 31331LNC8 30744 285000 SH SHARE 285000 FEDL FARM CREDIT BANK COM 31331LT65 5142 50000 SH SHARE 50000 FEDL FARM CREDIT BANK COM 31331Q2E6 20396 210000 SH SHARE 210000 FEDL FARM CREDIT BANK COM 31331Q2T3 49344 500000 SH SHARE 500000 FEDL FARM CREDIT BANK COM 31331Q3M7 68294 700000 SH SHARE 700000 FEDL FARM CREDIT BANK COM 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5.450% COM 31331RP90 214 200000 SH SHARE 01 200000 FFCB 4.500% COM 31331T6C0 201 200000 SH SHARE 01 200000 FFCB 3.350% COM 31331T6T3 100 100000 SH SHARE 01 100000 FFCB 3.860% COM 31331T6U0 101 100000 SH SHARE 01 100000 FFCB 5.100% COM 31331T7H8 251 250000 SH SHARE 01 250000 FFCB 5.000% COM 31331TBH3 285 280000 SH SHARE 01 280000 FEDL FARM CREDIT BANK COM 31331TC90 5011 50000 SH SHARE 50000 FFCB 5.400% COM 31331TJD4 204 200000 SH SHARE 01 200000 FFCB 5.450% COM 31331TKL4 201 200000 SH SHARE 01 200000 FFCB 5.100% COM 31331TL41 202 200000 SH SHARE 01 200000 FFCB 5.450% COM 31331TL58 258 250000 SH SHARE 01 250000 FFCB 5.375% COM 31331TP54 103 100000 SH SHARE 01 100000 FFCB 5.750% COM 31331TT35 105 100000 SH SHARE 01 100000 FFCB 3.875% COM 31331TTS0 50 50000 SH SHARE 01 50000 FFCB 4.375% COM 31331TUG4 75 75000 SH SHARE 01 75000 FEDL FARM CREDIT BANK COM 31331TVK4 14925 150000 SH SHARE 150000 FFCB 4.980% COM 31331TVL2 201 200000 SH SHARE 01 200000 FEDL FARM CREDIT BANK COM 31331TVM0 2456 25000 SH SHARE 25000 FEDL FARM CREDIT BANK COM 31331TWJ6 19600 200000 SH SHARE 200000 FFCB 4.625% COM 31331TYA3 198 200000 SH SHARE 01 200000 FFCB 4.150% COM 31331TZR5 99 100000 SH SHARE 01 100000 FEDL HOME LOAN BANK COM 313395LC7 2713 25000 SH SHARE 25000 FEDL HOME LOAN BANK COM 313395M51 10881 100000 SH SHARE 100000 FEDL HOME LOAN BANK COM 31339CGA2 1042 10000 SH SHARE 10000 FEDL HOME LOAN MTG CORP COM 31339GH95 8029 80000 SH SHARE 80000 FEDL HOME LOAN BANK COM 31339X4V3 1975 20000 SH SHARE 20000 FEDL HOME LOAN BANK COM 31339X6C3 9841 100000 SH SHARE 100000 FEDL HOME LOAN BANK COM 31339X6K5 49078 500000 SH SHARE 500000 FEDL HOME LOAN BANK COM 31339XCG7 987 10000 SH SHARE 10000 FHLB 4.000% COM 31339XD68 676 700000 SH SHARE 01 700000 FHLB STEP-CPN COM 31339XDX9 247 250000 SH SHARE 01 250000 FHLB 3.080% COM 31339XHJ6 198 200000 SH SHARE 01 200000 FHLB STEP-CPN COM 31339XP99 98 100000 SH SHARE 01 100000 FHLB 2.150% COM 31339XV35 98 100000 SH SHARE 01 100000 FHLB 1.560% COM 31339XV43 99 100000 SH SHARE 01 100000 FHLB 2.420% COM 31339XV68 117 120000 SH SHARE 01 120000 FHLB 3.550% COM 31339XVG6 180 185000 SH SHARE 01 185000 FEDL HOME LOAN BANK COM 31339XVY7 7455 75000 SH SHARE 75000 FHLB 2.100% COM 31339XZU1 285 290000 SH SHARE 01 290000 FEDL HOME LOAN BANK COM 31339XZW7 29231 300000 SH SHARE 300000 FEDL HOME LOAN BANK COM 31339Y3P5 1477 15000 SH SHARE 15000 FHLB 2.700% COM 31339Y4F6 136 140000 SH SHARE 01 140000 FHLB 3.000% COM 31339Y4U3 133 135000 SH SHARE 01 135000 FHLB 3.000% COM 31339Y5K4 99 100000 SH SHARE 01 100000 FEDL HOME LOAN BANK COM 31339YAF9 39612 400000 SH SHARE 400000 FEDL HOME LOAN BANK COM 31339YBG6 10247 105000 SH SHARE 105000 FEDL HOME LOAN BANK COM 31339YCC4 4936 50000 SH SHARE 50000 FHLB 2.350% COM 31339YD58 493 500000 SH SHARE 01 500000 FHLB 2.040% COM 31339YDP4 392 400000 SH SHARE 01 400000 FHLB 3.000% COM 31339YKT8 98 100000 SH SHARE 01 100000 FHLB VAR-CPN COM 31339YLE0 100 100000 SH SHARE 01 100000 FHLB 4.600% COM 31339YMP4 198 200000 SH SHARE 01 200000 FHLB VAR-CPN COM 31339YNC2 98 100000 SH SHARE 01 100000 FEDL HOME LOAN BANK COM 31339YQR6 60094 600000 SH SHARE 600000 FHLB 5.400% COM 31339YWC2 99 100000 SH SHARE 01 100000 FHLB 5.550% COM 31339YXX5 299 300000 SH SHARE 01 300000 FEDL HOME LN MTG CORP COM 3133F0D48 15961 160000 SH SHARE 160000 FEDL HOME LOAN MTG CORP COM 3133F0D55 2500 25000 SH SHARE 25000 FEDL HOME LOAN MTG CORP COM 3133F0D71 4980 50000 SH SHARE 50000 FEDL HOME LOAN MTG CORP COM 3133F0G94 15003 150000 SH SHARE 150000 FEDL HOME LN MTG CORP COM 3133F0H44 4981 50000 SH SHARE 50000 FHLMC MTN 3.000% COM 3133F0H51 190 190000 SH SHARE 01 190000 FEDL HOME LOAN MTG CORP COM 3133F0L56 4987 50000 SH SHARE 50000 FEDL HOME LOAN MTG CORP COM 3133F0Q51 2446 25000 SH SHARE 25000 FEDL HOME LN MTG CORP COM 3133F0VT3 5002 50000 SH SHARE 50000 FHLMC MTN VAR-CPN COM 3133F1DC8 25 25000 SH SHARE 01 25000 FEDL HOME LOAN MTG CORP COM 3133F1FN2 2016 20000 SH SHARE 20000 FEDL HOME LOAN MTG CORP COM 3133F1GA9 1514 15000 SH SHARE 15000 FEDL HOME LOAN MTG CORP COM 3133F1GH4 5050 50000 SH SHARE 50000 FEDL HOME LOAN MTG CORP COM 3133F1HD2 1512 15000 SH SHARE 15000 FEDL HOME LOAN MTG CORP COM 3133F1KG1 37815 380000 SH SHARE 380000 FEDL HOME LOAN MTG CORP COM 3133F1KS5 2493 25000 SH SHARE 25000 FHLMC MTN VAR-CPN COM 3133F1LP0 199 200000 SH SHARE 01 200000 FEDL HOME LOAN BANK COM 3133M2M20 22660 210000 SH SHARE 210000 FEDL HOME LOAN BANK COM 3133M2SV0 2523 25000 SH SHARE 25000 FEDL HOME LOAN BANK COM 3133M3F26 8126 75000 SH SHARE 75000 FEDL HOME LOAN BANK COM 3133M3KB0 2537 25000 SH SHARE 25000 FEDL HOME LOAN BANK COM 3133M4F81 5114 50000 SH SHARE 50000 FEDL HOME LOAN BANK COM 3133M4WQ2 5428 50000 SH SHARE 50000 FEDL HOME LOAN BANK COM 3133M5FC9 2579 25000 SH SHARE 25000 FEDL HOME LN BK COM 3133M5SM3 12330 115000 SH SHARE 115000 FEDL HOME LOAN BANK COM 3133M6KC1 8065 75000 SH SHARE 75000 FEDL HOME LOAN BANK COM 3133M6RS9 1617 15000 SH SHARE 15000 FEDL HOME LOAN BANK COM 3133M6VV7 5356 50000 SH SHARE 50000 FEDL HOME LOAN BANK COM 3133M73E4 2677 25000 SH SHARE 25000 FHLB 5.585% COM 3133M7E69 54 50000 SH SHARE 01 50000 FEDL HOME LOAN BANK COM 3133M8AU8 2184 20000 SH SHARE 20000 FEDL HOME LOAN BANK COM 3133M8V76 2108 20000 SH SHARE 20000 FEDL HOME LOAN BANK COM 3133MDFR9 5213 50000 SH SHARE 50000 FHLB 5.125% COM 3133MDJP9 26 25000 SH SHARE 01 25000 FEDL HOME LOAN BANK COM 3133MEUC3 1079 10000 SH SHARE 10000 FHLB 6.000% COM 3133MGZN9 183 175000 SH SHARE 01 175000 FHLB 4.125% COM 3133MJUR9 77 75000 SH SHARE 01 75000 FHLB 6.250% COM 3133MK5V5 101 100000 SH SHARE 01 100000 FHLB 5.250% COM 3133MLT88 27 25000 SH SHARE 01 25000 FHLB 5.750% COM 3133MNVV0 27 25000 SH SHARE 01 25000 FHLB 6.200% COM 3133MNWL1 51 50000 SH SHARE 01 50000 FEDL HOME LOAN BANK COM 3133MNWL1 512 5000 SH SHARE 5000 FEDL HOME LOAN BANK COM 3133MPH33 2556 25000 SH SHARE 25000 FHLB 6.050% COM 3133MQSG0 160 160000 SH SHARE 01 160000 FHLB 5.200% COM 3133MRQU9 268 267500 SH SHARE 01 267500 FHLB 5.875% COM 3133MRT69 400 400000 SH SHARE 01 400000 FHLB 5.125% COM 3133MRYY2 445 445000 SH SHARE 01 445000 FHLB 5.080% COM 3133MSAE0 42 41667 SH SHARE 01 41667 FHLB 5.540% COM 3133MSDK3 125 125000 SH SHARE 01 125000 FHLB 5.090% COM 3133MSQG8 200 200000 SH SHARE 01 200000 FHLB 4.705% COM 3133MSSQ4 200 200000 SH SHARE 01 200000 FHLB 5.400% COM 3133MT2A5 100 100000 SH SHARE 01 100000 FEDL HOME LOAN BANK COM 3133MT3L0 2004 20000 SH SHARE 20000 FHLB 6.000% COM 3133MT4W5 75 75000 SH SHARE 01 75000 FHLB 4.150% COM 3133MTDZ8 100 100000 SH SHARE 01 100000 FEDL HOME LOAN BANK COM 3133MTL71 6000 60000 SH SHARE 60000 FHLB 5.850% COM 3133MTYW2 300 300000 SH SHARE 01 300000 FHLB 5.250% COM 3133MTYY8 255 254571 SH SHARE 01 254571 FEDL HOME LOAN BANK COM 3133MTYY8 2501 25000 SH SHARE 25000 FHLB 5.750% COM 3133MTZT8 158 158084 SH SHARE 01 158084 FEDL HOME LOAN BANK COM 3133MU3R4 5002 50000 SH SHARE 50000 FHLB 5.000% COM 3133MUMC6 201 200000 SH SHARE 01 200000 FHLB 5.200% COM 3133MUMZ5 100 100000 SH SHARE 01 100000 FHLB 4.540% COM 3133MUN27 300 300000 SH SHARE 01 300000 FHLB 5.150% COM 3133MVC92 101 100000 SH SHARE 01 100000 FHLB 5.740% COM 3133MVCA9 101 100000 SH SHARE 01 100000 FHLB 5.125% COM 3133MVHX4 91 90000 SH SHARE 01 90000 FHLB 5.050% COM 3133MVWN9 50 50000 SH SHARE 01 50000 FEDL HOME LOAN BANK COM 3133MW2M2 1496 15000 SH SHARE 15000 FHLB 5.625% COM 3133MW5W7 200 200000 SH SHARE 01 200000 FHLB 5.600% COM 3133MWE80 300 300000 SH SHARE 01 300000 FHLB 5.600% COM 3133MWKJ9 100 100000 SH SHARE 01 100000 FEDL HOME LOAN BANK COM 3133MWS28 1498 15000 SH SHARE 15000 FHLB 5.370% COM 3133MWYS4 303 300000 SH SHARE 01 300000 FHLB 4.040% COM 3133MX5A3 100 100000 SH SHARE 01 100000 FEDL HOME LOAN BANK COM 3133MXB73 2490 25000 SH SHARE 25000 FHLB 3.170% COM 3133MXC80 474 480000 SH SHARE 01 480000 FHLB 5.370% COM 3133MXJL4 100 100000 SH SHARE 01 100000 FHLB 4.200% COM 3133MXJN0 100 100000 SH SHARE 01 100000 FEDL HOME LOAN BANK COM 3133MXJN0 2498 25000 SH SHARE 25000 FHLB 3.700% COM 3133MXPQ6 125 125000 SH SHARE 01 125000 FHLB 4.250% COM 3133MXTW9 100 100000 SH SHARE 01 100000 FHLB 3.700% COM 3133MXTZ2 100 100000 SH SHARE 01 100000 FHLB 4.850% COM 3133MXWZ8 25 25000 SH SHARE 01 25000 FHLB 5.500% COM 3133MYAX5 100 100000 SH SHARE 01 100000 FEDL HOME LOAN BANK COM 3133MYBN6 4988 50000 SH SHARE 50000 FEDL HOME LOAN BANK COM 3133MYCZ8 2501 25000 SH SHARE 25000 FHLB 3.030% COM 3133MYQF7 150 150000 SH SHARE 01 150000 FEDL HOME LOAN BANK COM 3133MYQQ3 3509 35000 SH SHARE 35000 FEDL HOME LOAN BANK COM 3133MYRR0 24711 250000 SH SHARE 250000 FHLB 2.100% COM 3133MYRX7 100 100000 SH SHARE 01 100000 FHLB 5.000% COM 3133MYSU2 125 125000 SH SHARE 01 125000 FHLB 5.400% COM 3133MYUP0 294 300000 SH SHARE 01 300000 FEDL HOME LOAN BANK COM 3133MYUP0 2452 25000 SH SHARE 25000 FHLB 2.600% COM 3133MYW60 50 50000 SH SHARE 01 50000 FHLB 2.500% COM 3133MYX93 200 200000 SH SHARE 01 200000 FHLB 3.150% COM 3133MYYQ4 99 100000 SH SHARE 01 100000 FHLB 4.250% COM 3133MYZM2 96 100000 SH SHARE 01 100000 FHLB 5.000% COM 3133X04Q9 480 480000 SH SHARE 01 480000 FEDL HOME LOAN BANK COM 3133X06H7 25078 250000 SH SHARE 250000 FHLB 4.250% COM 3133X0AV1 50 50000 SH SHARE 01 50000 FHLB 5.200% COM 3133X0BN8 100 100000 SH SHARE 01 100000 FHLB 4.650% COM 3133X0E47 100 100000 SH SHARE 01 100000 FEDL HOME LOAN BANK COM 3133X0E96 99531 1000000 SH SHARE 1000000 FHLB 6.125% COM 3133X0Z51 204 200000 SH SHARE 01 200000 FHLB 5.500% COM 3133X0ZR3 51 50000 SH SHARE 01 50000 FHLB 4.700% COM 3133X1CW5 25 25000 SH SHARE 01 25000 FHLB 6.000% COM 3133X1DM6 200 200000 SH SHARE 01 200000 FEDL HOME LOAN BANK COM 3133X1DN4 5002 50000 SH SHARE 50000 FHLB 4.625% COM 3133X1DQ7 200 200000 SH SHARE 01 200000 FHLB 5.230% COM 3133X1DR5 102 100000 SH SHARE 01 100000 FHLB 3.125% COM 3133X1F28 150 150000 SH SHARE 01 150000 FHLB 5.375% COM 3133X1FA0 200 200000 SH SHARE 01 200000 FEDL HOME LOAN BANK COM 3133X1FA0 8002 80000 SH SHARE 80000 FHLB 6.000% COM 3133X1FY8 100 100000 SH SHARE 01 100000 FEDL HOME LOAN BANK COM 3133X1KD8 1493 15000 SH SHARE 15000 FEDL HOME LOAN BANK COM 3133X1KF3 4967 50000 SH SHARE 50000 FEDL HOME LOAN BANK COM 3133X1LH8 100031 1000000 SH SHARE 1000000 FHLB 4.750% COM 3133X1LZ8 150 150000 SH SHARE 01 150000 FHLB 5.375% COM 3133X1MY0 401 400000 SH SHARE 01 400000 FEDL HOME LOAN BANK COM 3133X1PL5 25000 250000 SH SHARE 250000 FHLB 6.000% COM 3133X1PV3 201 200000 SH SHARE 01 200000 FHLB 5.500% COM 3133X1QQ3 225 225000 SH SHARE 01 225000 FHLB 4.850% COM 3133X1QR1 200 200000 SH SHARE 01 200000 FHLB 6.125% COM 3133X1SR9 100 100000 SH SHARE 01 100000 FHLB 5.600% COM 3133X1ST5 90 90000 SH SHARE 01 90000 FEDL HOME LOAN BANK COM 3133X1X36 5000 50000 SH SHARE 50000 FHLB 5.500% COM 3133X1Z26 125 125000 SH SHARE 01 125000 FHLB 5.500% COM 3133X25L5 201 200000 SH SHARE 01 200000 FHLB 2.750% COM 3133X2B46 25 25000 SH SHARE 01 25000 FHLB 6.080% COM 3133X2BM6 201 200000 SH SHARE 01 200000 FHLB 5.000% COM 3133X2ET8 201 200000 SH SHARE 01 200000 FHLB 5.580% COM 3133X2GF6 131 130000 SH SHARE 01 130000 FEDL HOME LOAN BANK COM 3133X2H32 10009 100000 SH SHARE 100000 FHLB 4.700% COM 3133X2K79 200 200000 SH SHARE 01 200000 FHLB 5.300% COM 3133X2L37 416 415000 SH SHARE 01 415000 FHLB 5.500% COM 3133X2Z57 600 600000 SH SHARE 01 600000 FHLB 5.250% COM 3133X34J9 100 100000 SH SHARE 01 100000 FHLB 5.000% COM 3133X3A94 420 419231 SH SHARE 01 419231 FHLB 6.000% COM 3133X3C68 185 180000 SH SHARE 01 180000 FHLB 5.000% COM 3133X3J61 101 100000 SH SHARE 01 100000 FHLB 4.000% COM 3133X3KW2 190 190000 SH SHARE 01 190000 FHLB 4.520% COM 3133X3LH4 100 100000 SH SHARE 01 100000 FHLB 5.125% COM 3133X3LJ0 348 350000 SH SHARE 01 350000 FHLB VAR-CPN COM 3133X3QS5 100 100000 SH SHARE 01 100000 FEDL HOME LOAN BANK COM 3133X3R70 25008 250000 SH SHARE 250000 FHLB 5.200% COM 3133X3YP2 242 240000 SH SHARE 01 240000 FEDL HOME LOAN BANK COM 3133X42C4 59831 600000 SH SHARE 600000 FEDL HOME LOAN BANK COM 3133X45Y3 50047 500000 SH SHARE 500000 FEDL HOME LOAN BANK COM 3133X4HA2 8428 85000 SH SHARE 85000 FHLB 4.100% COM 3133X4HM6 100 100000 SH SHARE 01 100000 FHLB 5.050% COM 3133X4NB3 251 250000 SH SHARE 01 250000 FHLB 5.040% COM 3133X4SC6 602 600000 SH SHARE 01 600000 FHLB 3.000% COM 3133X4TZ4 124 125000 SH SHARE 01 125000 FEDL HOME LOAN BANK COM 3133X4ZB0 17663 180000 SH SHARE 180000 FHLB 4.850% COM 3133X54D7 147 150000 SH SHARE 01 150000 FHLB 5.125% COM 3133X5BQ0 100 100000 SH SHARE 01 100000 FHLB 5.000% COM 3133X5DP0 199 200000 SH SHARE 01 200000 FHLB 5.350% COM 3133X5G85 350 350000 SH SHARE 01 350000 FEDL HOME LOAN BANK COM 3133X5LM8 9878 100000 SH SHARE 100000 FHLB 5.375% COM 3133X5MN5 150 150000 SH SHARE 01 150000 FHLB 5.550% COM 3133X5TS7 245 250000 SH SHARE 01 250000 FEDL HOME LOAN BANK COM 3133X5UH9 4963 50000 SH SHARE 50000 FEDL HOME LOAN BANK COM 3133X5XM5 2484 25000 SH SHARE 25000 FHLB 5.050% COM 3133X6BS4 100 100000 SH SHARE 01 100000 FHLB 4.300% COM 3133X6BY1 290 290000 SH SHARE 01 290000 FHLB 5.750% COM 3133X6DS2 202 200000 SH SHARE 01 200000 FEDL HOME LOAN BANK COM 3133X6G42 5002 50000 SH SHARE 50000 FEDL HOME LOAN BANK COM 3133X6G59 100344 1000000 SH SHARE 1000000 FHLB 6.000% COM 3133X6LL8 201 200000 SH SHARE 01 200000 FHLB 5.375% COM 3133X6LX2 255 250000 SH SHARE 01 250000 FHLB 5.875% COM 3133X6P34 204 200000 SH SHARE 01 200000 FEDL HOME LOAN BANK COM 3133X6P83 1008 10000 SH SHARE 10000 FHLB 5.250% COM 3133X6SE7 204 200000 SH SHARE 01 200000 FHLB 6.000% COM 3133X6TE6 451 450000 SH SHARE 01 450000 FHLB 5.000% COM 3133X6WJ1 101 100000 SH SHARE 01 100000 FHLB 5.500% COM 3133X6WL6 304 300000 SH SHARE 01 300000 FEDL HOME LOAN BANK COM 3133X6WL6 5072 50000 SH SHARE 50000 FHLB 5.000% COM 3133X72T0 509 500000 SH SHARE 01 500000 FHLB 6.000% COM 3133X7AR5 201 200000 SH SHARE 01 200000 FHLB 5.300% COM 3133X7BF0 103 100000 SH SHARE 01 100000 FHLB 5.700% COM 3133X7BK9 306 300000 SH SHARE 01 300000 FHLB 5.250% COM 3133X7C28 102 100000 SH SHARE 01 100000 FEDL HOME LOAN BANK COM 3133X7E42 1508 15000 SH SHARE 15000 FHLB 5.040% COM 3133X7E59 61 60000 SH SHARE 01 60000 FHLB 6.000% COM 3133X7ET7 102 100000 SH SHARE 01 100000 FHLB 6.000% COM 3133X7G73 153 150000 SH SHARE 01 150000 FHLB 6.300% COM 3133X7H31 166 165000 SH SHARE 01 165000 FHLB 5.500% COM 3133X7K37 35 35000 SH SHARE 01 35000 FHLB 4.850% COM 3133X7L69 51 50000 SH SHARE 01 50000 FHLB 6.000% COM 3133X7L85 306 300000 SH SHARE 01 300000 FHLB 5.125% COM 3133X7MK7 51 50000 SH SHARE 01 50000 FHLB 6.000% COM 3133X7NH3 202 200000 SH SHARE 01 200000 FHLB 6.000% COM 3133X7PA6 205 200000 SH SHARE 01 200000 FHLB 4.750% COM 3133X7PU2 36 35000 SH SHARE 01 35000 FHLB 5.750% COM 3133X7PV0 176 175000 SH SHARE 01 175000 FHLB 5.000% COM 3133X7Q72 100 100000 SH SHARE 01 100000 FHLB 5.125% COM 3133X7R97 51 50000 SH SHARE 01 50000 FHLB 5.370% COM 3133X7SR6 102 100000 SH SHARE 01 100000 FHLB 5.000% COM 3133X7TZ7 446 440000 SH SHARE 01 440000 FHLB 5.550% COM 3133X7V68 253 250000 SH SHARE 01 250000 FHLB 5.150% COM 3133X7VX9 301 300000 SH SHARE 01 300000 FHLB 5.570% COM 3133X7W91 505 500000 SH SHARE 01 500000 FHLB 5.625% COM 3133X7XE9 212 210000 SH SHARE 01 210000 FHLB 5.050% COM 3133X7YJ7 355 350000 SH SHARE 01 350000 FHLB 5.700% COM 3133X7ZS6 409 400000 SH SHARE 01 400000 FHLB 5.200% COM 3133X82K7 303 300000 SH SHARE 01 300000 FHLB 5.300% COM 3133X82N1 153 150000 SH SHARE 01 150000 FHLB 4.650% COM 3133X84D1 51 50000 SH SHARE 01 50000 FHLB 5.000% COM 3133X85B4 234 230000 SH SHARE 01 230000 FHLB 5.375% COM 3133X8B27 203 200000 SH SHARE 01 200000 FHLB 4.000% COM 3133X8BZ4 25 25000 SH SHARE 01 25000 FHLB 5.000% COM 3133X8CX8 126 125000 SH SHARE 01 125000 FHLB 4.750% COM 3133X8E81 101 100000 SH SHARE 01 100000 FHLB 5.000% COM 3133X8EU2 353 350000 SH SHARE 01 350000 FHLB 4.850% COM 3133X8JW3 252 250000 SH SHARE 01 250000 FHLB 3.850% COM 3133X8K92 151 150000 SH SHARE 01 150000 FHLB 4.200% COM 3133X8KG6 176 175000 SH SHARE 01 175000 FHLB 5.350% COM 3133X8KJ0 539 535000 SH SHARE 01 535000 FHLB 5.170% COM 3133X8PP1 303 300000 SH SHARE 01 300000 FEDL HOME LOAN MTG CORP COM 313401BW0 2515 25000 SH SHARE 25000 FEDL HOME LOAN MTG CORP COM 313401DZ1 3145 30000 SH SHARE 30000 FEDL HOME LOAN MTG CORP COM 313401GU9 6054 55000 SH SHARE 55000 FEDL HOME LOAN MTG CORP COM 313401HQ7 7795 75000 SH SHARE 75000 FEDL HOME LOAN MTG CORP COM 313401HS3 4676 45000 SH SHARE 45000 FEDL HOME LOAN MTG CORP COM 313401JK8 3347 30000 SH SHARE 30000 FEDL HOME LOAN MTG CORP COM 313401JT9 3321 30000 SH SHARE 30000 FEDL HOME LOAN MTG CORP COM 313401UG4 8389 75000 SH SHARE 75000 FEDL HOME LOAN MTG CORP COM 31340AM40 2807 25000 SH SHARE 25000 FEDL HOME LOAN MTG CORP COM 31340AX97 16794 150000 SH SHARE 150000 FEDL HOME LOAN MTG CORP COM 31340BN54 655 6000 SH SHARE 6000 FEDL HOME LOAN MTG CORP COM 31340CGE1 18616 165000 SH SHARE 165000 FEDL HOME LOAN MTG CORP COM 31340MHD0 14303 130000 SH SHARE 130000 FEDL HOME LOAN MTG CORP COM 31340MKR5 2650 25000 SH SHARE 25000 FEDL HOME LOAN MTG CORP COM 31340NC27 2703 25000 SH SHARE 25000 FEDL HOME LOAN MTG CORP COM 31340NCS0 3878 35000 SH SHARE 35000 FEDL HOME LOAN MTG CORP COM 31340NCW1 1534 14000 SH SHARE 14000 FEDL HOME LOAN MTG CORP COM 31340QEM4 3301 30000 SH SHARE 30000 FEDL HOME LOAN MTG CORP COM 31340THM5 7065 65000 SH SHARE 65000 FEDL HOME LOAN MTG CORP COM 313411NG1 0 325000 SH SHARE 325000 FEDL HOME LOAN MTG CORP COM 31341ANT3 6646 60000 SH SHARE 60000 FEDL HOME LOAN MTG CORP COM 31341HJY2 3855 35000 SH SHARE 35000 FEDL HOME LOAN MTG CORP COM 31341HMV4 8802 80000 SH SHARE 80000 FEDL HOME LOAN MTG CORP COM 31341HQY4 3913 35000 SH SHARE 35000 FEDL HOME LOAN MTG CORP COM 31344JGY8 2799 25000 SH SHARE 25000 FEDL HOME LOAN MTG CORP COM 31344MMF5 5369 50000 SH SHARE 50000 FEDL HOME LOAN MTG CORP COM 31344U6H1 2721 25000 SH SHARE 25000 FEDL HOME LOAN MTG CORP COM 31345CUV2 8309 75000 SH SHARE 75000 FEDL HOME LOAN MTG CORP COM 31345EV88 15048 135000 SH SHARE 135000 FED HOME LOAN MTG CORP COM 3134A1KC3 7034 65000 SH SHARE 65000 FHLMC 7.390% COM 3134A3C95 60 55000 SH SHARE 01 55000 FHLMC 6.000% COM 3134A4FM1 28 25000 SH SHARE 01 25000 FHLMC 5.750% COM 3134A4JT2 55 50000 SH SHARE 01 50000 FEDL HOME LOAN MTG CORP COM 3134A4JT2 9821 90000 SH SHARE 90000 FANNIE MAE COM 313586109 964 15211 SH SHARE 01 15211 FEDL NATL MTG ASSN COM 31358CR81 4779 50000 SH SHARE 50000 FEDL NATL MTG ASSN COM 31358DCM4 1784 20000 SH SHARE 20000 FEDL NATL MTG ASSN COM 31358TCE7 3120 30000 SH SHARE 30000 FEDL NATL MTG ASSN COM 31358UKQ8 1872 18000 SH SHARE 18000 FNMA 5.750% COM 31359MDJ9 54 50000 SH SHARE 01 50000 FNMA 5.250% COM 31359MEK5 53 50000 SH SHARE 01 50000 FNMA 6.625% COM 31359MEY5 282 250000 SH SHARE 01 250000 FNMA 6.625% COM 31359MGJ6 57 50000 SH SHARE 01 50000 FNMA 4.375% COM 31359MLH4 155 150000 SH SHARE 01 150000 FNMA 5.000% COM 31359MLP6 100 100000 SH SHARE 01 100000 FEDL NATL MTG ASSN COM 31359MLP6 2006 20000 SH SHARE 20000 FNMA 6.000% COM 31359MLY7 106 105000 SH SHARE 01 105000 FNMA 5.000% COM 31359MLZ4 26 25000 SH SHARE 01 25000 FNMA 6.000% COM 31359MMB6 76 75000 SH SHARE 01 75000 FNMA 5.625% COM 31359MMF7 193 185000 SH SHARE 01 185000 FNMA 3.875% COM 31359MMG5 50 50000 SH SHARE 01 50000 FEDL NATL MTG ASSN COM 31359MML4 10175 100000 SH SHARE 100000 FNMA 4.750% COM 31359MQV8 74 75000 SH SHARE 01 75000 FNMA 4.000% COM 31359MSY0 51 50000 SH SHARE 01 50000 FEDL NATL MTG ASSN STRIP COM 31359YAK3 1164 13000 SH SHARE 13000 FEDL NATL MTG ASSN COM 31360DF21 2721 25000 SH SHARE 25000 FEDL NATL MTG ASSN COM 313615PW0 536 5000 SH SHARE 5000 FEDL NATL MTG ASSN COM 31361LWY3 7676 68000 SH SHARE 68000 FEDL NATL MTG ASSN COM 31364BCT5 5152 50000 SH SHARE 50000 FEDL NATL MTG ASSN COM 31364DNE2 814 12000 SH SHARE 12000 FEDL NATL MTG ASSN COM 3136F04D1 3010 30000 SH SHARE 30000 FNMA MED TERM NOTE 6.100% COM 3136F1CB4 81 80000 SH SHARE 01 80000 FNMA 6.000% COM 3136F1SR2 254 250000 SH SHARE 01 250000 FEDL NATL MTG ASSN COM 3136F24R6 2473 25000 SH SHARE 25000 FNMA 4.000% COM 3136F2DQ8 137 135000 SH SHARE 01 135000 FNMA 5.750% COM 3136F2QH4 299 300000 SH SHARE 01 300000 FNMA 3.400% COM 3136F2TV0 166 165000 SH SHARE 01 165000 FNMA MED TERM NOTE 5.250% COM 3136F2YT9 65 65000 SH SHARE 01 65000 FNMA 6.050% COM 3136F34G8 402 400000 SH SHARE 01 400000 FEDL NATL MTG ASSN COM 3136F35U6 35033 350000 SH SHARE 350000 FEDL NATL MTG ASSN COM 3136F36X9 41987 420000 SH SHARE 420000 FEDL NATL MTG ASSN COM 3136F3BX3 1491 15000 SH SHARE 15000 FEDL NATL MTG ASSN COM 3136F3CZ7 3420 35000 SH SHARE 35000 FNMA MTN 4.000% COM 3136F3DC7 125 130000 SH SHARE 01 130000 FNMA 3.000% COM 3136F3LG9 65 65000 SH SHARE 01 65000 FNMA 4.750% COM 3136F3LZ7 100 100000 SH SHARE 01 100000 FNMA 4.000% COM 3136F3PN0 98 100000 SH SHARE 01 100000 FNMA 4.020% COM 3136F3QG4 100 100000 SH SHARE 01 100000 FEDL NATL MTG ASSN COM 3136F3RB4 24945 250000 SH SHARE 250000 FNMA 5.300% COM 3136F3V45 200 200000 SH SHARE 01 200000 FNMA 4.400% COM 3136F3VN3 138 140000 SH SHARE 01 140000 FEDL NATL MTG ASSN COM 3136F3VN3 28975 295000 SH SHARE 295000 FNMA 2.600% COM 3136F3Y59 148 150000 SH SHARE 01 150000 FEDL NATL MTG ASSN COM 3136F3YP5 9947 100000 SH SHARE 100000 FEDL NATL MTG ASSN COM 3136F3YQ3 35269 360000 SH SHARE 360000 FEDL NATL MTG ASSN COM 3136F42Q6 991 10000 SH SHARE 10000 FNMA 4.000% COM 3136F45D2 40 40000 SH SHARE 01 40000 FNMA 5.000% COM 3136F45M2 265 265000 SH SHARE 01 265000 FNMA 6.000% COM 3136F4AF1 100 100000 SH SHARE 01 100000 FNMA 5.030% COM 3136F4GW8 101 100000 SH SHARE 01 100000 FEDL NATL MTG ASSN COM 3136F4LT9 1487 15000 SH SHARE 15000 FNMA 3.500% COM 3136F4R71 174 175000 SH SHARE 01 175000 FNMA 5.000% COM 3136F4R97 755 755000 SH SHARE 01 755000 FNMA 5.125% COM 3136F4RB2 55 55000 SH SHARE 01 55000 FEDL NATL MTG ASSN COM 3136F4X33 1001 10000 SH SHARE 10000 FEDL NATL MTG ASSN COM 3136F56V8 11024 110000 SH SHARE 110000 FEDL NATL MTG ASSN COM 3136F5AH4 9916 100000 SH SHARE 100000 FEDL NATL MTG ASSN COM 3136F5DL2 981 10000 SH SHARE 10000 FNMA VAR-CPN COM 3136F5GX3 25 25000 SH SHARE 01 25000 FEDL NATL MTG ASSN COM 3136F5J36 25094 250000 SH SHARE 250000 FEDL NATL MTG ASSN COM 3136F5K67 5022 50000 SH SHARE 50000 FNMA 4.520% COM 3136F5KS9 224 225000 SH SHARE 01 225000 FNMA 5.000% COM 3136F5LA7 123 125000 SH SHARE 01 125000 FNMA 5.400% COM 3136F5PT2 190 190000 SH SHARE 01 190000 FEDL NATL MTG ASSN COM 3136F5QW4 20025 200000 SH SHARE 200000 FNMA 5.500% COM 3136F5QZ7 200 200000 SH SHARE 01 200000 FEDL NATL MTG ASSN COM 3136F5QZ7 5011 50000 SH SHARE 50000 FNMA 5.500% COM 3136F5RD5 100 100000 SH SHARE 01 100000 FEDL NATL MTG ASSN COM 3136F5SG7 2483 25000 SH SHARE 25000 FNMA 6.000% COM 3136F5TQ4 102 100000 SH SHARE 01 100000 FNMA 5.100% COM 3136F5WA5 150 150000 SH SHARE 01 150000 FNMA VAR-CPN COM 3136F6BY4 200 200000 SH SHARE 01 200000 FNMA 5.000% COM 3136F6BZ1 261 260000 SH SHARE 01 260000 FNMA 5.000% COM 3136F6ED7 216 215000 SH SHARE 01 215000 FEDL NATL MTG ASSN COM 31393DW49 6426 65000 SH SHARE 65000 FEDL HOME LOAN MTG CORP COM 31393QNB4 1476 15000 SH SHARE 15000 FEDL HOME LOAN MTG CORP COM 31393VTQ4 4841 50000 SH SHARE 50000 FEDL NATL MTG ASSN COM 31393XRL3 2478 25000 SH SHARE 25000 FEDL NATL MTG ASSN COM 31393XX51 2513 25000 SH SHARE 25000 FEDL NATL MTG ASSN COM 31393YK87 3026 30000 SH SHARE 30000 FEDL NATL MTG ASSN COM 31393YPV1 5441 55000 SH SHARE 55000 FEDL NATL MTG ASSN COM 31393YTC9 1006 10000 SH SHARE 10000 FEDL NATL MTG ASSN COM 31393YXE0 2519 25000 SH SHARE 25000 FEDL NATL MTG ASSN COM 31393YZF5 2528 25000 SH SHARE 25000 FEDL HOME LOAN MTG CORP COM 31394GQK2 2476 25000 SH SHARE 25000 FEDL HOME LOAN MTG CORP COM 31394GVC4 2398 24000 SH SHARE 24000 FEDL HOME LOAN MTG CORP COM 31394GWU3 1702 17000 SH SHARE 17000 FEDL HOME LOAN MTG CORP COM 31394JGN1 5037 50000 SH SHARE 50000 FEDL HOME LOAN MTG CORP COM 31394JGV3 2870 28000 SH SHARE 28000 FEDL HOME LOAN MTG CORP COM 31394JWH6 3521 35000 SH SHARE 35000 FEDL HOME LOAN MTG CORP COM 31394KLL6 3544 35000 SH SHARE 35000 FEDL HOME LOAN MTG CORP COM 31394MKV1 1595 16000 SH SHARE 16000 FEDL HOME LOAN MTG CORP COM 31394NR34 5360 55000 SH SHARE 55000 FEDL HOME LOAN MTG CORP COM 31394WZ68 2516 25000 SH SHARE 25000 FEDL HOME LOAN MTG CORP COM 31395AY58 1477 15000 SH SHARE 15000 FEDL HOME LOAN MTG CORP COM 31395EMB0 2517 25000 SH SHARE 25000 FEDL HOME LOAN MTG CORP COM 31395FYJ7 6435 65000 SH SHARE 65000 FEDEX CORPORATION COM 31428X106 3935 45925 SH SHARE 45925 FINANCING CORP CPN FICO COM 31771C3X1 2277 26000 SH SHARE 26000 FINANCING CORP CPN FICO COM 31771C6J9 925 10000 SH SHARE 10000 FINANCING CORP STRIPS COM 31771CBR5 444 5000 SH SHARE 5000 FINANCING CORP CPN FICO COM 31771CQ40 375 4000 SH SHARE 4000 FINANCING CORP CPN FICO COM 31771CSH9 397 4000 SH SHARE 4000 FINANCING CORP COM 31771CSR7 2060 24000 SH SHARE 24000 FINANCING CORP CPN FICO COM 31771CXH3 693 7000 SH SHARE 7000 FIRST BANKING CENTER COM 318926AC6 10065 100000 SH SHARE 100000 FIRST DATA CORP COM 319963104 594 13647 SH SHARE 13647 FIRST EAGLE FDS INC ^* COM 32008F101 255 12802 SH SHARE 12802 FIRST MARYLAND BANCORP COM 320806AP7 27515 250000 SH SHARE 250000 FIRST UNION CORP COM 337358AS4 2065 20000 SH SHARE 20000 FIRST UNION CORP 6.000% COM 337358AU9 81 75000 SH SHARE 01 75000 FIRST UN CORP 6.375% COM 337358AV7 110 100000 SH SHARE 01 100000 FIRSTBANK PR STEP COM 33761K6D2 2997 30000 SH SHARE 30000 FIRSTBANK PUERTO RIC 6.000% COM 33761KM36 100 100000 SH SHARE 01 100000 FIRSTBANK PUERTO RICO COM 337627CV3 4953 50000 SH SHARE 50000 FIRSTBANK PR STEP COM 337627EE9 2453 25000 SH SHARE 25000 FIRSTBANK PR STEP COM 337627FF5 2456 25000 SH SHARE 25000 FIRSTBANK PUERTO RICO COM 337627HC0 10054 100000 SH SHARE 100000 FLEET FINL GROUP INC NEW COM 338915AL5 3832 35000 SH SHARE 35000 FLEETWOOD PA 5.650% COM 339110AP3 26 25000 SH SHARE 01 25000 SEI DAILY INCOME PRIME OBLIG COM 34 34465 34464621 SH SHARE 01 34464621 FLORIDA HSG FIN AGY SF COM 340736BV8 1531 15000 SH SHARE 15000 FLORIDA ST BRD ED CAP COM 3414223W1 2095 20000 SH SHARE 20000 FLORIDA ST BRD ED CAP COM 341422BJ1 4045 40000 SH SHARE 40000 FLORIDA ST B/R/H/R 4.500% COM 341589GA1 54 50000 SH SHARE 01 50000 FLORIDA ST 3.375% COM 34160NBW3 99 100000 SH SHARE 01 100000 FLORIDA ST 3.500% COM 34160NBY9 98 100000 SH SHARE 01 100000 FLORIDA ST MUNICIPAL COM 342815PZ4 5117 50000 SH SHARE 50000 FLORIDA ST GOVT UTIL ATH COM 34281PAN3 2760 25000 SH SHARE 25000 FLORIDA ST TPK AUTH REV COM 343136PH4 2693 25000 SH SHARE 25000 FLORIDA ST TPK AUTH REV COM 343136PN1 2584 25000 SH SHARE 25000 FONTANA CA PFA TAX COM 344612FC5 14703 135000 SH SHARE 135000 FORD MOTOR COMPANY NEW COM 345370860 195 13910 SH SHARE 13910 FORD MOTOR CO COM 345370AP5 5300 50000 SH SHARE 50000 FORD MTR CR CO 6.75% COM 345397GV9 56 55000 SH SHARE 01 55000 FORD MTR CR CO 6.75% COM 345397GX5 159 150000 SH SHARE 01 150000 FORD MTR CR CO 6.375% COM 345397GZ0 74 70000 SH SHARE 01 70000 FORD MOTOR CREDIT CORP COM 345397GZ0 2631 25000 SH SHARE 25000 FORD MTR CR CO 6.375% COM 345397HB2 104 100000 SH SHARE 01 100000 FORD MTR CR CO 6.25% COM 345397NJ8 88 85000 SH SHARE 01 85000 FORD MTR CREDIT COM 345397SG9 3111 30000 SH SHARE 30000 FORD MOTOR CREDIT CO 7.375% COM 345397TS2 27 25000 SH SHARE 01 25000 FORD MOTOR CREDIT CO COM 345397UA9 1552 15000 SH SHARE 15000 FORD MOTOR CREDIT CO COM 34539CRT1 2534 25000 SH SHARE 25000 FORD MOTOR CREDIT CORP COM 34539TML6 0 100000 SH SHARE 100000 FORT CHERRY PA 4.000% COM 347086DE7 52 50000 SH SHARE 01 50000 FORT CHERRY PA SCH DIST COM 347086DF4 2618 25000 SH SHARE 25000 FORT LAUDERDALE FL 3.750% COM 347550HL2 50 50000 SH SHARE 01 50000 FORTUNE BRANDS INC COM 349631101 1347 18175 SH SHARE 01 18175 FORTUNE BRANDS INC COM 349631101 267 3600 SH SHARE 3600 FOXBOROUGH MA B/E COM 351640LY1 1526 15000 SH SHARE 15000 FRANKLIN CNTY NY IDA COM 353140AL0 10557 100000 SH SHARE 100000 FRANKLIN CUST FNDS INC^* COM 353496797 122 50271 SH SHARE 50271 FRANKLIN MA B/E B/Q COM 353838JL0 2570 25000 SH SHARE 25000 FRANKLIN RESOURCES INC COM 354613101 584 10470 SH SHARE 10470 FRANKLIN TEMPLETON FD ^* COM 35472P786 121 10864 SH SHARE 10864 FRANKLIN TEMPLETON FD ^* COM 35472P844 227 19730 SH SHARE 19730 FREDERICK CNTY MD RFDG COM 355694XZ8 5407 50000 SH SHARE 50000 FREDERICK MD 4.125% COM 355748ME1 25 25000 SH SHARE 01 25000 FREMONT INVT & LOAN BANK COM 356611YQ0 8500 85000 SH SHARE 85000 FRISCO TX 5.000% COM 358775SB1 20 20000 SH SHARE 01 20000 FRONTIER MA REGL SD COM 359100AW4 1114 10000 SH SHARE 10000 GE GLOBAL INS HLDG 6.450% COM 36158FAB6 267 250000 SH SHARE 01 250000 GOVT NATL MTG ASSN COM 3620294U1 5120 50000 SH SHARE 50000 GOVT NATL MTG ASSN COM 362029VG2 2555 25000 SH SHARE 25000 GOVT NATL MTG ASSN II COM 36202A3T2 4853 45000 SH SHARE 45000 GOVT NATL MTG ASSN II COM 36202A6G7 4516 40000 SH SHARE 40000 GOVT NATL MTG ASSN II COM 36202AAS6 2831 25000 SH SHARE 25000 GOVT NATL MTG ASSN II COM 36202AG76 7073 67000 SH SHARE 67000 GOVT NATL MTG ASSN II COM 36202AS99 2676 25000 SH SHARE 25000 GOVT NATL MTG ASSN II COM 36202AT31 2802 25000 SH SHARE 25000 GOVT NATL MTG ASSN II COM 36202AY43 3930 35000 SH SHARE 35000 GOVT NATL MTG ASSN II COM 36202B7B5 2739 25000 SH SHARE 25000 GOVT NATL MTG ASSN II COM 36202BEK7 2826 25000 SH SHARE 25000 GOVT NATL MTG ASSN II COM 36202BK20 2696 25000 SH SHARE 25000 GOVT NATL MTG ASSN II COM 36202BMA0 2809 25000 SH SHARE 25000 GOVT NATL MTG ASSN II COM 36202BXY6 4701 42558 SH SHARE 42558 GOVT NATL MTG ASSN II COM 36202BYT6 5201 50000 SH SHARE 50000 GOVT NATL MTG ASSN II COM 36202CE33 2723 25000 SH SHARE 25000 GOVT NATL MTG ASSN II COM 36202CH63 3597 33877 SH SHARE 33877 GOVT NATL MTG ASSN II COM 36202CP98 2689 25000 SH SHARE 25000 GOVT NATL MTG ASSN II COM 36202CRE5 3713 34000 SH SHARE 34000 GOVT NATL MTG ASSN II COM 36202DNK3 4161 40000 SH SHARE 40000 GOVT NATL MTG ASSN II COM 36202DS36 2916 28035 SH SHARE 28035 GOVT NATL MTG ASSN II COM 36202DT76 3020 28567 SH SHARE 28567 GOVT NATL MTG ASSN COM 3620306S2 3577 35000 SH SHARE 35000 GOVT NATL MTG ASSN COM 3620314J2 2546 25000 SH SHARE 25000 GOVT NATL MTG ASSN COM 362031HC3 7153 70000 SH SHARE 70000 GOVT NATL MTG ASSN COM 362031QL3 5198 50000 SH SHARE 50000 GOVT NATL MTG ASSN COM 362031QS8 5098 50000 SH SHARE 50000 GOVT NATL MTG ASSN COM 362031W51 2604 25000 SH SHARE 25000 GOVT NATL MTG ASSN COM 362031X92 11215 110000 SH SHARE 110000 GOVT NATL MTG ASSN COM 362031Y67 4078 40000 SH SHARE 40000 GOVT NATL MTG ASSN COM 362031ZS8 2555 25000 SH SHARE 25000 GOVT NATL MTG ASSN COM 362032EA8 2546 25000 SH SHARE 25000 GOVT NATL MTG ASSN COM 362033CR1 2604 25000 SH SHARE 25000 GOVT NATL MTG ASSN COM 362033D41 5620 55000 SH SHARE 55000 GOVT NATL MTG ASSN COM 362033FA5 7646 75000 SH SHARE 75000 GOVT NATL MTG ASSN COM 362033FU1 4088 40000 SH SHARE 40000 GOVT NATL MTG ASSN COM 362033LE0 3577 35000 SH SHARE 35000 GOVT NATL MTG ASSN COM 362033XA5 2546 25000 SH SHARE 25000 GOVT NATL MTG ASSN COM 3620344E7 3646 35000 SH SHARE 35000 GOVT NATL MTG ASSN COM 362034TM2 2604 25000 SH SHARE 25000 GOVT NATL MTG ASSN COM 362034VG2 2604 25000 SH SHARE 25000 GOVT NATL MTG ASSN COM 362034WC0 5198 50000 SH SHARE 50000 GOVT NATL MTG ASSN COM 362034WG1 11436 110000 SH SHARE 110000 GOVT NATL MTG ASSN COM 362035DS3 5098 50000 SH SHARE 50000 GOVT NATL MTG ASSN COM 362035G27 3646 35000 SH SHARE 35000 GOVT NATL MTG ASSN COM 362035GL5 2604 25000 SH SHARE 25000 GOVT NATL MTG ASSN COM 362035NB9 4123 40000 SH SHARE 40000 GOVT NATL MTG ASSN COM 362035U96 10416 100000 SH SHARE 100000 GOVT NATL MTG ASSN COM 362035YG6 6238 60000 SH SHARE 60000 GOVT NATL MTG ASSN COM 3620375L3 3270 31530 SH SHARE 31530 GOVT NATL MTG ASSN COM 3620376G3 5198 50000 SH SHARE 50000 GOVT NATL MTG ASSN COM 362037EW9 2599 25000 SH SHARE 25000 GOVT NATL MTG ASSN COM 362037TS2 5186 50000 SH SHARE 50000 GOVT NATL MTG ASSN COM 3620382U4 2604 25000 SH SHARE 25000 GOVT NATL MTG ASSN COM 362038DM0 6223 60000 SH SHARE 60000 GOVT NATL MTG ASSN COM 362038NR8 2593 25000 SH SHARE 25000 GOVT NATL MTG ASSN COM 362038P54 3284 31799 SH SHARE 31799 GOVT NATL MTG ASSN COM 362039EZ8 2593 25000 SH SHARE 25000 GOVT NATL MTG ASSN COM 362039JG5 3098 30000 SH SHARE 30000 GOVT NATL MTG ASSN COM 362039QT9 2593 25000 SH SHARE 25000 GOVT NATL MTG ASSN COM 36203MKZ2 3430 31000 SH SHARE 31000 GOVT NATL MTG ASSN COM 36203PS87 2708 25000 SH SHARE 25000 GOVT NATL MTG ASSN COM 36203X7A8 2611 25000 SH SHARE 25000 GOVT NATL MTG ASSN COM 362042AM5 5866 56554 SH SHARE 56554 GOVT NATL MTG ASSN COM 362042UQ4 2628 25000 SH SHARE 25000 GOVT NATL MTG ASSN COM 362043YJ4 3130 30000 SH SHARE 30000 GOVT NATL MTG ASSN COM 362044TF6 3130 30000 SH SHARE 30000 GOVT NATL MTG ASSN COM 3620452T2 4695 45000 SH SHARE 45000 GOVT NATL MTG ASSN COM 362045BC9 2655 25000 SH SHARE 25000 GOVT NATL MTG ASSN COM 362047RT1 2628 25000 SH SHARE 25000 GOVT NATL MTG ASSN COM 36204DK81 3864 37000 SH SHARE 37000 GOVT NATL MTG ASSN COM 36204UBJ9 4332 40000 SH SHARE 40000 GOVT NATL MTG ASSN COM 3620515Q3 2696 25000 SH SHARE 25000 GOVT NATL MTG ASSN COM 362051XV1 14700 135000 SH SHARE 135000 GOVT NATL MTG ASSN COM 362052EF5 2696 25000 SH SHARE 25000 GOVT NATL MTG ASSN COM 362052HW5 2722 25000 SH SHARE 25000 GOVT NATL MTG ASSN COM 3620536J4 5330 50000 SH SHARE 50000 GOVT NATL MTG ASSN COM 362054KA5 7547 70000 SH SHARE 70000 GOVT NATL MTG ASSN COM 362054YP7 5330 50000 SH SHARE 50000 GOVT NATL MTG ASSN COM 3620554M4 6469 60000 SH SHARE 60000 GOVT NATL MTG ASSN COM 362055D28 3235 30000 SH SHARE 30000 GOVT NATL MTG ASSN COM 362055NE1 2722 25000 SH SHARE 25000 GOVT NATL MTG ASSN COM 362055RZ0 2696 25000 SH SHARE 25000 GOVT NATL MTG ASSN COM 362055UD5 2696 25000 SH SHARE 25000 GOVT NATL MTG ASSN COM 362055UE3 2696 25000 SH SHARE 25000 GOVT NATL MTG ASSN COM 362055Z65 2696 25000 SH SHARE 25000 GOVT NATL MTG ASSN COM 362056PS6 2696 25000 SH SHARE 25000 GOVT NATL MTG ASSN COM 362056VW0 3811 35000 SH SHARE 35000 GOVT NATL MTG ASSN COM 362058N70 8167 75000 SH SHARE 75000 GOVT NATL MTG ASSN COM 3620597D3 2722 25000 SH SHARE 25000 GOVT NATL MTG ASSN COM 362059VC8 2744 25000 SH SHARE 25000 GOVT NATL MTG ASSN COM 362059Y43 7683 70000 SH SHARE 70000 GOVT NATL MTG ASSN COM 362059Y76 5224 47595 SH SHARE 47595 GOVT NATL MTG ASSN COM 36205JRR8 10650 100000 SH SHARE 100000 GOVT NATL MTG ASSN COM 36205KJB9 2760 25000 SH SHARE 25000 GOVT NATL MTG ASSN COM 36205QQL6 4329 40000 SH SHARE 40000 GOVT NATL MTG ASSN COM 362061DW0 3811 35000 SH SHARE 35000 GOVT NATL MTG ASSN COM 362061RZ8 2744 25000 SH SHARE 25000 GOVT NATL MTG ASSN COM 362061ZN6 5488 50000 SH SHARE 50000 GOVT NATL MTG ASSN COM 3620623K5 2744 25000 SH SHARE 25000 GOVT NATL MTG ASSN COM 3620624V0 2696 25000 SH SHARE 25000 GOVT NATL MTG ASSN COM 362062V24 4390 40000 SH SHARE 40000 GOVT NATL MTG ASSN COM 362063T66 2744 25000 SH SHARE 25000 GOVT NATL MTG ASSN COM 362064HR1 4390 40000 SH SHARE 40000 GOVT NATL MTG ASSN COM 362064QH3 3293 30000 SH SHARE 30000 GOVT NATL MTG ASSN COM 362065RM8 2773 25000 SH SHARE 25000 GOVT NATL MTG ASSN COM 362067L99 2770 25000 SH SHARE 25000 GOVT NATL MTG ASSN COM 36206VVS3 2676 25000 SH SHARE 25000 GOVT NATL MTG ASSN COM 362072ED8 3457 30000 SH SHARE 30000 GOVT NATL MTG ASSN COM 362072M64 5071 45000 SH SHARE 45000 GOVT NATL MTG ASSN COM 362073QW1 2844 25000 SH SHARE 25000 GOVT NATL MTG ASSN COM 3620805C3 3498 30000 SH SHARE 30000 GOVT NATL MTG ASSN COM 362093CY0 3435 30000 SH SHARE 30000 GOVT NATL MTG ASSN COM 362093XR2 2858 25000 SH SHARE 25000 GOVT NATL MTG ASSN COM 36209FDU0 2670 25000 SH SHARE 25000 GOVT NATL MTG ASSN COM 36213PHQ7 25981 250000 SH SHARE 250000 GOVT NATL MTG ASSN COM 362144E86 5753 50000 SH SHARE 50000 GOVT NATL MTG ASSN COM 36214FER9 2904 25000 SH SHARE 25000 GOVT NATL MTG ASSN COM 362159DA0 4495 40000 SH SHARE 40000 GOVT NATL MTG ASSN COM 36215WQ49 5630 50000 SH SHARE 50000 GOVT NATL MTG ASSN COM 362163PK7 5619 50000 SH SHARE 50000 GOVT NATL MTG ASSN COM 362163ZJ9 2828 25000 SH SHARE 25000 GOVT NATL MTG ASSN COM 362164VA0 2764 25000 SH SHARE 25000 GOVT NATL MTG ASSN COM 36216EC43 6742 60000 SH SHARE 60000 GOVT NATL MTG ASSN COM 36216EXM0 3933 35000 SH SHARE 35000 GOVT NATL MTG ASSN COM 36216KRV3 2809 25000 SH SHARE 25000 GOVT NATL MTG ASSN COM 36216LBF3 2826 25000 SH SHARE 25000 GOVT NATL MTG ASSN COM 36216NLT8 5619 50000 SH SHARE 50000 GOVT NATL MTG ASSN COM 36216TTK6 6203 55000 SH SHARE 55000 GOVT NATL MTG ASSN COM 36216TXP0 2809 25000 SH SHARE 25000 GOVT NATL MTG ASSN COM 36217DCK8 2809 25000 SH SHARE 25000 GOVT NATL MTG ASSN COM 36217J6A4 2706 25000 SH SHARE 25000 GOVT NATL MTG ASSN COM 36217K6K9 4442 40619 SH SHARE 40619 GOVT NATL MTG ASSN COM 36217YBZ0 5474 50000 SH SHARE 50000 GOVT NATL MTG ASSN COM 36217YUB2 3285 30000 SH SHARE 30000 GOVT NATL MTG ASSN COM 36218ED40 3832 35000 SH SHARE 35000 GOVT NATL MTG ASSN COM 36218FZC5 2834 25000 SH SHARE 25000 GOVT NATL MTG ASSN COM 36218GK62 6793 60000 SH SHARE 60000 GOVT NATL MTG ASSN COM 36218GKE5 3377 30000 SH SHARE 30000 GOVT NATL MTG ASSN COM 36218JG79 2813 25000 SH SHARE 25000 GOVT NATL MTG ASSN COM 36218JWK2 3940 35000 SH SHARE 35000 GOVT NATL MTG ASSN COM 36218SM23 2811 25000 SH SHARE 25000 GOVT NATL MTG ASSN COM 36218WZ61 2834 25000 SH SHARE 25000 GOVT NATL MTG ASSN COM 362191KT4 6189 55000 SH SHARE 55000 GOVT NATL MTG ASSN COM 362194ZG0 5636 50000 SH SHARE 50000 GOVT NATL MTG ASSN COM 36219QNZ2 8444 75000 SH SHARE 75000 GOVT NATL MTG ASSN COM 362209NJ3 2820 25000 SH SHARE 25000 GOVT NATL MTG ASSN COM 362209XL7 3885 34420 SH SHARE 34420 GOVT NATL MTG ASSN COM 36220F2V5 2767 25000 SH SHARE 25000 GOVT NATL MTG ASSN COM 36220FJ70 12393 110000 SH SHARE 110000 GOVT NATL MTG ASSN COM 36220KK36 2817 25000 SH SHARE 25000 GOVT NATL MTG ASSN COM 36220M2Q1 2817 25000 SH SHARE 25000 GOVT NATL MTG ASSN COM 36220MLL1 7331 65000 SH SHARE 65000 GOVT NATL MTG ASSN COM 36220NAS6 2817 25000 SH SHARE 25000 GOVT NATL MTG ASSN COM 36220NFN2 3383 30000 SH SHARE 30000 GOVT NATL MTG ASSN COM 36223D6X9 2769 25000 SH SHARE 25000 GOVT NATL MTG ASSN COM 36223EHV9 2769 25000 SH SHARE 25000 GOVT NATL MTG ASSN COM 36223FC33 5538 50000 SH SHARE 50000 GOVT NATL MTG ASSN COM 36223GHN2 2769 25000 SH SHARE 25000 GOVT NATL MTG ASSN COM 36223GTY5 2747 25000 SH SHARE 25000 GOVT NATL MTG ASSN COM 36223HPW1 2749 25000 SH SHARE 25000 GOVT NATL MTG ASSN COM 36223UGY8 5497 50000 SH SHARE 50000 GOVT NATL MTG ASSN COM 36223VEE2 4333 40000 SH SHARE 40000 GOVT NATL MTG ASSN COM 36224BH69 3142 29000 SH SHARE 29000 GOVT NATL MTG ASSN COM 36224BYX1 5684 54554 SH SHARE 54554 GOVT NATL MTG ASSN COM 36224DCM5 5497 50000 SH SHARE 50000 GOVT NATL MTG ASSN COM 36224HPY6 2679 25000 SH SHARE 25000 GOVT NATL MTG ASSN COM 36224PFQ6 2708 25000 SH SHARE 25000 GOVT NATL MTG ASSN COM 36224TVN7 2708 25000 SH SHARE 25000 GOVT NATL MTG ASSN COM 36224W5Y5 4823 45000 SH SHARE 45000 GOVT NATL MTG ASSN COM 36224XKZ3 4291 40000 SH SHARE 40000 GTE SOUTHWEST INC 6.54% COM 362338AS4 146 140000 SH SHARE 01 140000 GANNETT INC COM 364730101 201 2400 SH SHARE 01 2400 GANNETT COMPANY INC DEL COM 364730101 1075 12830 SH SHARE 12830 GATEWAY PA 2.750% COM 367748JQ4 249 245000 SH SHARE 01 245000 GENERAL DYNAMICS CORP COM 369550108 1808 17705 SH SHARE 01 17705 GENERAL DYNAMICS CORP COM 369550AH1 29699 300000 SH SHARE 300000 GENERAL DYNAMICS CORP COM 369550AK4 24539 250000 SH SHARE 250000 GENERAL DYNAMICS CORP COM 369550AL2 1027 10000 SH SHARE 10000 GENL ELECTRIC CAP CORP COM 36959HML8 0 100000 SH SHARE 100000 GENERAL ELECTRIC COMPANY COM 369604103 14127 420689 SH SHARE 01 420689 GENERAL ELECTRIC COMPANY COM 369604103 10375 308951 SH SHARE 308951 GE COMPANY 5.000% COM 369604AY9 417 405000 SH SHARE 01 405000 GENERAL ELEC CO COM 369604AY9 49183 475000 SH SHARE 475000 GENL ELECTRIC CAP CORP COM 369622DG7 1648 15000 SH SHARE 15000 GEN ELEC CAP MTN 5.100% COM 36962GB52 297 300000 SH SHARE 01 300000 GEN ELEC CAP CORP 3.500% COM 36962GB78 305 305000 SH SHARE 01 305000 GENL ELECTRIC CAP CORP COM 36962GD68 1511 15000 SH SHARE 15000 GEN ELEC CAP CRP MTN 2.750% COM 36962GE34 259 260000 SH SHARE 01 260000 GENL ELECTRIC CAP CORP COM 36962GE67 1998 20000 SH SHARE 20000 GENL ELEC CAPITAL CORP COM 36962GE75 2524 25000 SH SHARE 25000 GEN ELEC CAP CRP MTN 5.000% COM 36962GXR0 52 50000 SH SHARE 01 50000 GENERAL ELEC CAP COR 5.875% COM 36962GXS8 472 435000 SH SHARE 01 435000 GENL ELECTRIC CAP CORP COM 36962GXX7 75064 750000 SH SHARE 750000 GENL ELECTRIC CAP CORP COM 36962GZD9 5512 55000 SH SHARE 55000 GEN ELEC CAP CRP MTN 4.625% COM 36962GZH0 471 455000 SH SHARE 01 455000 GENL ELECTRIC CAP CORP COM 36962GZY3 2132 20000 SH SHARE 20000 GENL ELECTRIC CAP CORP COM 36966RBJ4 1987 20000 SH SHARE 20000 GEN ELEC CAP CRP MTN 2.750% COM 36966RFQ4 165 170000 SH SHARE 01 170000 GEN ELEC CAP CRP MTN 4.150% COM 36966RFR2 235 250000 SH SHARE 01 250000 GEN ELEC CAP CRP MTN 5.250% COM 36966RHR0 52 50000 SH SHARE 01 50000 GENL ELECTRIC CAP CORP COM 36966RHT6 2536 25000 SH SHARE 25000 GEN ELEC CAP CRP MTN 5.000% COM 36966RJB3 205 200000 SH SHARE 01 200000 GE CAP CORP MTN 2.400% COM 36966RMR4 49 50000 SH SHARE 01 50000 SEI DAILY INCOME TREASURY II COM 37 115 115194 SH SHARE 01 115194 GENERAL MILLS INC COM 370334104 578 12866 SH SHARE 01 12866 GENERAL MILLS INC COM 370334104 236 5250 SH SHARE 5250 GENERAL MILLS INC COM 370334AX2 1480 15000 SH SHARE 15000 GENL MTRS ACCPT COM 3704248B2 1140 11000 SH SHARE 11000 GENL MOTORS ACCEPT CORP COM 370425RD4 1553 15000 SH SHARE 15000 GENL MOTORS ACCEPT CORP COM 370425RW2 16742 160000 SH SHARE 160000 GENL MOTORS ACCEPT CORP COM 370425RZ5 1558 15000 SH SHARE 15000 GENL MOTORS ACCEPT CORP COM 370425SG6 3071 30000 SH SHARE 30000 GMAC MTN 6.750% COM 37042GF68 100 100000 SH SHARE 01 100000 GENL MOTORS ACCEPT CORP COM 37042GG75 29022 290000 SH SHARE 290000 GENL MOTORS ACCEPT CORP COM 37042GL53 5016 50000 SH SHARE 50000 GENL MOTORS ACCEPT CORP COM 37042GM94 5012 50000 SH SHARE 50000 GMAC MTN 7.000% COM 37042GNR3 199 200000 SH SHARE 01 200000 GENL MOTORS ACCEPT CORP COM 37042GPL4 1497 15000 SH SHARE 15000 GENL MOTORS ACCEPT CORP COM 37042GRU2 2635 25000 SH SHARE 25000 GENL MOTORS ACCEPT CORP COM 37042GRZ1 2069 20000 SH SHARE 20000 GENL MOTORS ACCEPT CORP COM 37042GSA5 2550 25000 SH SHARE 25000 GENL MOTORS ACCEPT CORP COM 37042GSB3 1503 15000 SH SHARE 15000 GENL MOTORS ACCEPT CORP COM 37042GSG2 1519 15000 SH SHARE 15000 GENL MOTORS ACCEPT CORP COM 37042GTA4 401 4000 SH SHARE 4000 GMAC MTN 7.375% COM 37042GTG1 251 250000 SH SHARE 01 250000 GENL MOTORS ACCEPT CORP COM 37042GUA2 3018 30000 SH SHARE 30000 GENL MOTORS CORP COM 370442AR6 1526 15000 SH SHARE 15000 GENL MOTORS ACCEPT CORP COM 3704A0AZ5 1989 20000 SH SHARE 20000 GENL MOTORS ACCEPT CORP COM 3704A0BT8 1499 15000 SH SHARE 15000 GENL MOTORS ACCEPT CORP COM 3704A0HS4 2424 25000 SH SHARE 25000 GENL MOTORS ACCEPT CORP COM 3704A0LK6 1500 15000 SH SHARE 15000 GENL MOTORS ACCEPT CORP COM 3704A0MJ8 1023 10000 SH SHARE 10000 GENTEX CORPORATION COM 371901109 880 25057 SH SHARE 25057 GENTA INC NEW COM 37245M207 32 12050 SH SHARE 12050 GENZYME CORP COM 372917104 511 9400 SH SHARE 9400 GEORGIA ST HSG & FIN ATH COM 373538Q59 2652 25000 SH SHARE 25000 GETTY REALTY CORP NEW * COM 374297109 338 12900 SH SHARE 12900 GETTYSBURG PA 4.650% COM 374305BE9 53 50000 SH SHARE 01 50000 GETTYSBURG PA 6.400% COM 374307DJ2 25 25000 SH SHARE 01 25000 GILLETTE COMPANY COM 375766102 584 13995 SH SHARE 13995 GILLETTE COMPANY COM 37576GAK6 988 10000 SH SHARE 10000 GILLETTE CO COM 37576GAN0 4964 50000 SH SHARE 50000 GLASSBORO NJ 4.400% COM 377172GG0 51 50000 SH SHARE 01 50000 GLAXOSMITHKLINE PLC COM 37733W105 324 7403 SH SHARE 7403 GMAC COML MTG BANK STEP COM 38012ACC5 1007 10000 SH SHARE 10000 GOLDMAN SACHS GROUP INC COM 38141G104 389 4175 SH SHARE 01 4175 GOLDMAN SACHS GROUP INC COM 38141G104 3607 38683 SH SHARE 38683 GOLDMAN SACHS COM 38141GAA2 1117 10000 SH SHARE 10000 GOLDMAN SACHS GROUP INC COM 38141GAD6 4580 40000 SH SHARE 40000 GOLDMAN SACHS GROUP 5.500% COM 38141GCM4 155 150000 SH SHARE 01 150000 GOLDMAN SACHS 4.125% COM 38141GCS1 255 250000 SH SHARE 01 250000 GOLDMAN SACHS GRP 5.250% COM 38141GDB7 178 175000 SH SHARE 01 175000 GOLDMAN SACHS GROUP INC COM 38141GDB7 10255 100000 SH SHARE 100000 GOLDMAN SACHS GROUP INC COM 38141GDK7 26203 265000 SH SHARE 265000 GOLDMAN SACHS 5.250% COM 38141GDQ4 428 425000 SH SHARE 01 425000 GOLDMAN SACHS GROUP INC COM 38143UAA9 2009 20000 SH SHARE 20000 GOODYEAR TIRE 7.857% COM 382550AH4 94 100000 SH SHARE 01 100000 GOODYEAR TIRE & RUBBER COM 382550AH4 4688 50000 SH SHARE 50000 GOVT NATL MTG ASSN COM 38373WFG8 5107 50000 SH SHARE 50000 GOVT SEC INC FD SR I * COM 383743523 0 17000 SH SHARE 17000 GOVT NATL MTG ASSN COM 38374C2R1 1498 15000 SH SHARE 15000 GOVT NATL MTG ASSN COM 38374CVQ1 4964 50000 SH SHARE 50000 GOVT NATL MTG ASSN COM 38374CYY1 804 8000 SH SHARE 8000 GOVT NATL MTG ASSN COM 38374EKR7 2017 20000 SH SHARE 20000 GOVT NATL MTG ASSN COM 38374G7B2 2971 30000 SH SHARE 30000 GOVT NATL MTG ASSN COM 38374GD74 1009 10000 SH SHARE 10000 GOVT NATL MTG ASSN COM 38374GX49 2475 25000 SH SHARE 25000 GOVT NATL MTG ASSN COM 38374HH37 1990 20000 SH SHARE 20000 GOVT NATL MTG ASSN COM 38374HJA9 2494 25000 SH SHARE 25000 GOVT NATL MTG ASSN COM 38374HRS1 4976 50000 SH SHARE 50000 GOVERNMENT PPTYS TR INC* COM 38374W107 278 29278 SH SHARE 29278 GRACO INCORPORATED COM 384109104 294 8775 SH SHARE 8775 GREAT SOUTHERN BANK STEP COM 39120VJR6 1503 15000 SH SHARE 15000 GREAT VY PA 4.000% COM 391358GU6 50 50000 SH SHARE 01 50000 GREATER JOHNS PA 4.400% COM 392028FJ0 169 165000 SH SHARE 01 165000 GREEN BROOK TWP NJ 4.125% COM 392730BZ9 153 150000 SH SHARE 01 150000 GREEN BROOK TWP NJ 4.375% COM 392730CJ4 98 100000 SH SHARE 01 100000 GREENFIELD MA COM 395100HX1 2157 20000 SH SHARE 20000 GREENLEE CNTY AZ INDL DV COM 395364AF9 10028 100000 SH SHARE 100000 GREENSBURG SALEM PA 4.000% COM 395704EH8 76 75000 SH SHARE 01 75000 GREENVILLE PA 4.000% COM 396373GS5 50 50000 SH SHARE 01 50000 GREENWOOD TRUST COM 39739BD99 2571 25000 SH SHARE 25000 GREENWOOD TRUST CO COM 39739CFZ7 610 6000 SH SHARE 6000 GROWTH FUND AMER INC ^* COM 399874403 635 25456 SH SHARE 25456 360 COMMUNICATIONS 6.650% COM 3C66608 27 25000 SH SHARE 01 25000 AMERICAN FDS FUNDAMENTAL INV COM 3NCFSX 318 10726 SH SHARE 01 10726 GRUMA SA SPONSORED ADR COM 400131306 310 39000 SH SHARE 01 39000 GUAM GOVT LTD OBLIG REV COM 40065HBD1 5410 50000 SH SHARE 50000 GUILFORD CT LOT A B/E COM 401766NR7 5172 50000 SH SHARE 50000 HMH PPTYS INC COM 40423QAF4 206 2000 SH SHARE 2000 HABER INC COM 404450108 2 10000 SH SHARE 10000 HALFX CO NC INDL FC PLTN COM 405777AB9 8224 80000 SH SHARE 80000 HALLIBURTON CO COM 40621PAB5 570 5000 SH SHARE 5000 HAMPTON TWP PA 5.100% COM 409504FW2 32 30000 SH SHARE 01 30000 HAMPTON TWP PA 3.400% COM 409504HV2 25 25000 SH SHARE 01 25000 HANCOCK JOHN BANK & COM 409735107 108 10988 SH SHARE 10988 HANCOCK GA CTFS PARTN COM 409759AU1 2770 25000 SH SHARE 25000 JOHN HANCOCK LIF MTN 5.500% COM 41013MFA3 24 25000 SH SHARE 01 25000 JOHN HANCOCK LIF MTN 4.350% COM 41013MFP0 20 20000 SH SHARE 01 20000 JOHN HANCOCK LIF MTN 4.050% COM 41013MN71 72 75000 SH SHARE 01 75000 JOHN HANCOCK SIGNATURE COM 41013MVC1 2487 25000 SH SHARE 25000 JOHN HANCOCK LIFE MT 4.500% COM 41013MVD9 221 220000 SH SHARE 01 220000 JOHN HANCOCK PREFERRED COM 41013W108 202 8130 SH SHARE 8130 HANOVER PA 2.800% COM 411147JU6 50 50000 SH SHARE 01 50000 HARBOR CREEK PA 2.800% COM 411509MD1 49 50000 SH SHARE 01 50000 HARFORD CNTY MD RFDG COM 412486K84 1533 15000 SH SHARE 15000 HARRISBURG PA 5.000% COM 414758GP1 54 50000 SH SHARE 01 50000 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HEMPFIELD PA SCH DIST COM 423745FV5 1004 10000 SH SHARE 10000 HEMPFIELD PA S/D 4.200% COM 423745LB2 52 50000 SH SHARE 01 50000 HEMPFIELD PA S/D 4.300% COM 423745LC0 155 150000 SH SHARE 01 150000 HEMPFIELD PA 3.600% COM 423745MU9 76 75000 SH SHARE 01 75000 HENDERSON GLOBAL FDS ^* COM 425067709 788 35879 SH SHARE 35879 HERITAGE CAP APPRE TR ^* COM 426906103 215 9319 SH SHARE 9319 HERNANDO CNTY FL CAP COM 427654EL8 4831 50000 SH SHARE 50000 HERTZ CORP 7.400% COM 428040BQ1 217 200000 SH SHARE 01 200000 HEWLETT PACKARD CO COM 428236103 629 33570 SH SHARE 01 33570 HEWLETT-PACKARD COMPANY COM 428236103 1278 68134 SH SHARE 68134 HEWLETT PACKARD CO 6.500% COM 428236AG8 447 400000 SH SHARE 01 400000 HILLSBOROUGH CNTY FL 3.750% COM 432337AQ6 26 25000 SH SHARE 01 25000 HILTON HOTEL CORP COM 432848AS8 571 5000 SH SHARE 5000 HOLYOKE MA RFDG FSA COM 436704V64 550 5000 SH SHARE 5000 HOME DEPOT INC COM 437076102 1148 29285 SH SHARE 01 29285 HOME DEPOT INC COM 437076102 4965 126667 SH SHARE 126667 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50000 SH SHARE 01 50000 JP MORGAN CHASE & CO COM 46625HAF7 11894 110000 SH SHARE 110000 CB JPMORGAN CHASE & CO 6.75 COM 46625HAG5 83 75000 SH SHARE 01 75000 JP MORGAN CHASE & CO COM 46625HAG5 1650 15000 SH SHARE 15000 J.P. 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MASSACHUSETTS ST DEV FIN COM 57583FT84 3139 30000 SH SHARE 30000 MASSACHUSETTS ST DEV FIN COM 57583FYE5 10187 100000 SH SHARE 100000 MASSACHUSETTS ST HLTH & COM 575847VU9 2612 25000 SH SHARE 25000 MASSACHUSETTS ST HEFA COM 5758512E9 3037 30000 SH SHARE 30000 MASSACHUSETTS ST HEFA COM 5758513U2 1022 10000 SH SHARE 10000 MASSACHUSETTS ST HLTH ED COM 5758514A5 1012 10000 SH SHARE 10000 MASSACHUSETTS HEALTH EDL COM 5758516A3 3701 35000 SH SHARE 35000 MASSACHUSETTS ST HOUSING COM 5758543W2 2542 25000 SH SHARE 25000 MASSACHUSETTS ST HLTH & COM 57585J3N9 10012 100000 SH SHARE 100000 MASSACHUSETTS ST HEFA RV COM 57585J3Q2 10696 105000 SH SHARE 105000 MASSACHUSETTS ST HEFA COM 57585J8P9 1531 15000 SH SHARE 15000 MASSACHUSETTS ST HEALTH& COM 57585J8T1 3079 30000 SH SHARE 30000 MASSACHUSETTS ST HLTH & COM 57585JB59 1044 10000 SH SHARE 10000 MASSACHUSETTS ST HLTH & COM 57585JH61 6264 60000 SH SHARE 60000 MASSACHUSETTS ST HEALTH& COM 57585JH79 5077 50000 SH SHARE 50000 MASSACHUSETTS ST HLTH & COM 57585JJ44 3153 30000 SH SHARE 30000 MASSACHUSETTS ST HLTH&ED COM 57585JKC4 7289 70000 SH SHARE 70000 MASSACHUSETTS ST HEALTH& COM 57585JLX7 1054 10000 SH SHARE 10000 MASSACHUSETTS ST HLTH&ED COM 57585JM40 1030 10000 SH SHARE 10000 MASSACHUSETTS ST HLTH & COM 57585JTR2 530 5000 SH SHARE 5000 MASSACHUSETTS ST HEFA COM 57585JVM0 2073 20000 SH SHARE 20000 MASSACHUSETTS ST HEFA COM 57585JVT5 5107 50000 SH SHARE 50000 MASSACHUSETTS ST HLTH & COM 57585JWP2 1590 15000 SH SHARE 15000 MASSACHUSETTS ST HLTH ED COM 57585JX71 7133 70000 SH SHARE 70000 MASSACHUSETTS ST HLTH&ED COM 57585JYW5 3054 30000 SH SHARE 30000 MASSACHUSETTS ST HLTH&ED COM 57585JZ95 6558 65000 SH SHARE 65000 MASSACHUSETTS ST HEALTH& COM 57585KDS4 2147 20000 SH SHARE 20000 MASSACHUSETTS ST HLTH & COM 57585KG93 10307 100000 SH SHARE 100000 MASSACHUSETTS ST HEFA RV COM 57585KTW8 2206 20000 SH SHARE 20000 MASSACHUSETTS ST HEFA RV COM 57585KTZ1 11812 115000 SH SHARE 115000 MASSACHUSETTS ST HLTH & COM 57585KUT3 2584 25000 SH SHARE 25000 MASSACHUSETTS ST HLTH & COM 57586CBQ7 3374 35000 SH SHARE 35000 MASSACHUSETTS ST PORT COM 5758953G0 8146 80000 SH SHARE 80000 MASSACHUSETTS ST PORT COM 5758953M7 9667 95000 SH SHARE 95000 MASSACHUSETTS ST PORT COM 575895A31 4561 45000 SH SHARE 45000 MASSACHUSETTS ST PORT COM 575895B30 1060 10000 SH SHARE 10000 MASSACHUSETTS ST PORT COM 575895C21 7430 75000 SH SHARE 75000 MA ST PORT AUTH REV SER COM 575895D20 5549 55000 SH SHARE 55000 MASSACHUSETTS ST PORT COM 575895D53 5332 50000 SH SHARE 50000 MASSACHUSETTS ST PORT COM 575895VB0 2610 25000 SH SHARE 25000 MASSACHUSETTS ST PORT COM 575895VE4 1523 15000 SH SHARE 15000 MASSACHUSETTS ST PORT COM 575895VZ7 2606 25000 SH SHARE 25000 MASSACHUSETTS ST PORT COM 575895YU5 2576 25000 SH SHARE 25000 MASSACHUSETTS ST PORT COM 575898AK7 507 5000 SH SHARE 5000 MA ST PORT AUTH SPL FACS COM 575898AL5 3011 30000 SH SHARE 30000 MASSACHUSETTS ST INDL COM 5759145C6 1065 10000 SH SHARE 10000 MASSACHUSETTS ST IFA REV COM 575914F76 507 5000 SH SHARE 5000 MASSACHUSETTS ST INDL COM 575914ZN9 2264 20000 SH SHARE 20000 MASSACHUSETTS ST IFA REV COM 575925MY5 2008 20000 SH SHARE 20000 MASSACHUSETTS ST IFA REV COM 575925NX6 3300 30000 SH SHARE 30000 MASSACHUSETTS ST HSG FIN COM 575930JQ6 2087 20000 SH SHARE 20000 MASSACHUSETTS ST 3.250% COM 575930SS2 101 100000 SH SHARE 01 100000 MASSACHUSETTS ST TPK ATH COM 576018AF2 5315 50000 SH SHARE 50000 MASSACHUSETTS ST TPK ATH COM 576018AJ4 21886 215000 SH SHARE 215000 MASSACHUSETTS ST TPK COM 576018AM7 6071 60000 SH SHARE 60000 MASSACHUSETTS ST TPK ATH COM 576018DK8 3232 30000 SH SHARE 30000 MASSACHUSETTS ST TPK ATH COM 576029AR3 550 5000 SH SHARE 5000 MASSACHUSETTS ST TPK COM 576029AT9 1112 10000 SH SHARE 10000 MASSACHUSETTS ST WATER COM 576047JT2 5215 50000 SH SHARE 50000 MASSACHUSETTS ST WATER COM 576047JU9 5710 55000 SH SHARE 55000 MASSACHUSETTS ST WATER COM 576047JW5 9566 95000 SH SHARE 95000 MASSACHUSETTS ST WATER COM 576047JX3 2065 20000 SH SHARE 20000 MASSACHUSETTS ST WATER COM 576047PM0 2842 25000 SH SHARE 25000 MASSACHUSETTS ST WATER COM 576047PV0 542 5000 SH SHARE 5000 MASSACHUSETTS ST WATER COM 576047PY4 2826 25000 SH SHARE 25000 MASSACHUSETTS ST WTR RES COM 576049CK4 2489 20000 SH SHARE 20000 MASSACHUSETTS ST WTR COM 576049FA3 555 5000 SH SHARE 5000 MASSACHUSETTS ST WTR COM 576049FD7 9681 85000 SH SHARE 85000 MASSACHUSETTS ST WTR RES COM 576049JK7 1001 10000 SH SHARE 10000 MASSACHUSETTS ST WTR RES COM 576049KS8 2626 25000 SH SHARE 25000 MASSACHUSETTS ST WTR RES COM 576049KT6 3004 30000 SH SHARE 30000 MASSACHUSETTS ST 4.750% COM 576049KU3 25 25000 SH SHARE 01 25000 MASSACHUSETTS ST WTR RES COM 576049KU3 2541 25000 SH SHARE 25000 MASSACHUSETTS ST COM 576049KV1 10678 105000 SH SHARE 105000 MASSACHUSETTS ST WTR RES COM 576049PH7 5172 50000 SH SHARE 50000 MASSACHUSETTS ST WTR RES COM 576049QF0 2500 25000 SH SHARE 25000 MAXIM INTEGRATED PRODS INC COM COM 57772K101 229 5425 SH SHARE 01 5425 MAY DEPT STORES CO 8.500% COM 577778BM4 125 100000 SH SHARE 01 100000 MAYTAG CORPORATION COM 57859HBU7 1402 15000 SH SHARE 15000 MC CORMICK & COMPANY COM 579780206 1710 49795 SH SHARE 49795 MCDONALD'S CORP COM 58013MDM3 5485 50000 SH SHARE 50000 MCGRAW-HILL COS INC COM 580645109 251 3150 SH SHARE 3150 MC KEESPORT PA Z-CPN COM 581408JK8 73 175000 SH SHARE 01 175000 MC KEESPORT PA 5.000% COM 581408QV6 40 40000 SH SHARE 01 40000 MEADVILLE PA 5.250% COM 583257DQ0 20 20000 SH SHARE 01 20000 MEADVILLE PA 4.700% COM 583299BT8 10 10000 SH SHARE 01 10000 MECHANICSBURG PA ASD COM 583726HR8 2549 25000 SH SHARE 25000 MEDAREX INC COM 583916101 111 15000 SH SHARE 15000 MEDCO HEALTH SOLUTIONS COM 58405U102 522 16878 SH SHARE 16878 MEDTRONIC INC COM COM 585055106 472 9100 SH SHARE 01 9100 MEDTRONIC INC COM 585055106 252 4850 SH SHARE 4850 MELLON FINANCIAL CO COM 585510CG3 3871 35000 SH SHARE 35000 MELLON FINANCIAL CORP COM 58551A108 675 24377 SH SHARE 24377 MELLON BANK N A NOTE 6.500% COM 585907AF5 93 90000 SH SHARE 01 90000 MERCER CNTY NJ 4.350% COM 587839TH4 196 200000 SH SHARE 01 200000 MERCK & CO INC COM COM 589331107 9816 297460 SH SHARE 01 297460 MERCK & COMPANY INC COM 589331107 5757 174448 SH SHARE 174448 MERCK & CO INC 4.375% COM 589331AH0 25 25000 SH SHARE 01 25000 MEREDITH CORP COM 589433101 599 11655 SH SHARE 11655 MERIDEN CT B/E MBIA COM 589535XJ7 5169 50000 SH SHARE 50000 MERRILL LYNCH & COM 590188108 2411 48494 SH SHARE 48494 MERRILL LYNCH & CO INC COM 590188EF1 1116 10000 SH SHARE 10000 MERRILL LYNCH & CO 6.25% COM 590188EZ7 255 235000 SH SHARE 01 235000 MERRILL LYNCH & CO INC COM 590188JB5 1112 10000 SH SHARE 10000 MERRILL LYNCH & CO COM 590188JF6 5685 51000 SH SHARE 51000 MERRILL LYNCH & CO COM 590188JN9 2297 20000 SH SHARE 20000 MERRILL LYNCH & CO INC COM 590188JP4 2717 25000 SH SHARE 25000 MERRILL LYNCH COM 59018SN83 1288 20000 SH SHARE 20000 MERRILL LYNCH & CO COM 59018SQ23 460 10000 SH SHARE 10000 MERRILL LYNCH MTN 4.540% COM 59018YMG3 101 100000 SH SHARE 01 100000 MERRILL LYNCH & CO INC COM 59018YRN3 24600 250000 SH SHARE 250000 MERRILL LYNCH MTN 3.375% COM 59018YRX1 100 100000 SH SHARE 01 100000 MERRILL LYNCH MTN Z-CPN COM 5901M0BL2 155 155000 SH SHARE 01 155000 METHACTON PA 4.300% COM 591506MU1 25 25000 SH SHARE 01 25000 METHUEN MA RFDG FGIC COM 591537QY4 2602 25000 SH SHARE 25000 METLIFE INC DCP 6.125% COM 59156RAC2 55 50000 SH SHARE 01 50000 METLIFE INC COM 59156RAG3 11357 112000 SH SHARE 112000 METRO TRANSN ATH NY COM 59259NLD3 5222 50000 SH SHARE 50000 MIAMI BEACH FL HFA HOSP COM 593211AZ8 8400 95000 SH SHARE 95000 MIAMI DADE CNTY FL SCH COM 59333MAP0 5537 50000 SH SHARE 50000 MIAMI DADE CNTY FL COM 59333PHV3 2564 25000 SH SHARE 25000 MICHIGAN ST HFA REV RFDG COM 59465EJ53 2192 20000 SH SHARE 20000 MICROSOFT CORP COM COM 594918104 4208 152175 SH SHARE 01 152175 MICROSOFT CORP COM 594918104 8504 307563 SH SHARE 307563 MIDCAP SPDR TR COM 595635103 377 3475 SH SHARE 3475 MIDDLESEX CNTY NJ 4.375% COM 5965616P0 54 50000 SH SHARE 01 50000 MIDDLESEX CNTY NJ 4.750% COM 596564JF2 77 75000 SH SHARE 01 75000 MIDDLESEX CNTY NJ 3.250% COM 59656NDD1 50 50000 SH SHARE 01 50000 MIDDLESEX TWP PA 3.900% COM 596655EX4 31 30000 SH SHARE 01 30000 MIDDLESEX TWP PA 4.250% COM 596655FA3 31 30000 SH SHARE 01 30000 MIDDLESEX WATER COMPANY COM 596680108 1030 57483 SH SHARE 57483 MIDLAND CNTY MI ECONOMIC COM 597901AG2 12951 125000 SH SHARE 125000 MIDWEST BANK COM 598276AA1 9800 98000 SH SHARE 98000 MIFFLIN CNTY PA 4.000% COM 598538MA1 75 75000 SH SHARE 01 75000 MILLENNIUM PHARM INC COM 599902103 227 16640 SH SHARE 16640 SEI LARGE CAP VALUE FUND (60 COM 60 546 27554 SH SHARE 01 27554 MILLCREEK TWP PA 4.100% COM 600293KX1 79 75000 SH SHARE 01 75000 MILTON PA 3.600% COM 602080FU2 199 200000 SH SHARE 01 200000 MOBILE CNTY AL 5.000% COM 607284PJ9 11 10000 SH SHARE 01 10000 MONESSEN PA 4.850% COM 609269CY9 11 10000 SH SHARE 01 10000 MONEY MKT OBLIGS TR ^* COM 60934N807 14 13764 SH SHARE 13764 MONMOUTH CNTY NJ 2.400% COM 609558U82 24 25000 SH SHARE 01 25000 MONROE CNTY FL COM 61050PAM7 6027 60000 SH SHARE 60000 MONROE CNTY NY 4.250% COM 610747X51 10 10000 SH SHARE 01 10000 MONROE CNTY NY 4.250% COM 610747Y35 26 25000 SH SHARE 01 25000 MONROE CNTY PA 5.600% COM 610768CQ4 27 25000 SH SHARE 01 25000 MONROEVILLE PA 2.700% COM 611538AF6 186 185000 SH SHARE 01 185000 MONROEVILLE PA 3.350% COM 611538AH2 102 100000 SH SHARE 01 100000 MONTANA ST BRD REGENTS COM 6121367V7 5772 50000 SH SHARE 50000 MONTGOMERY CNTY MD RFDG COM 613340KK3 4366 50000 SH SHARE 50000 MONTGOMERY CNTY MD ECNMC COM 613342BV5 25811 250000 SH SHARE 250000 MONTGOMERY CNTY MD HSG COM 61334MJK7 3031 30000 SH SHARE 30000 MONTGOMERY CNTY MD HSG COM 61334MKU3 3003 30000 SH SHARE 30000 MONTGOMERY CNTY MD LSE COM 613356AP9 10440 100000 SH SHARE 100000 MONTGOMERY CNTY PA 5.400% COM 613579NA5 27 25000 SH SHARE 01 25000 MONTGOMERY CNTY PA 5.000% COM 613579PP0 82 80000 SH SHARE 01 80000 MONTGOMERY CNTY PA REF COM 613579QD6 5404 50000 SH SHARE 50000 MONTGOMERY CNTY PA 5.250% COM 613579QF1 55 50000 SH SHARE 01 50000 MONTGOMERY CNTY PA 3.250% COM 613579QY0 98 100000 SH SHARE 01 100000 MONTGOMERY CNTY PA 3.600% COM 613579RB9 245 250000 SH SHARE 01 250000 MONTGOMERY CNTY PA 6.000% COM 613603KN8 30 30000 SH SHARE 01 30000 MONTGOMERY CNTY PA 6.375% COM 613603KP3 10 10000 SH SHARE 01 10000 MONTGOMERY CNTY PA 6.100% COM 61360PAN0 26 25000 SH SHARE 01 25000 MONTGOMERY CNTY PA COM 613630DP4 2201 20000 SH SHARE 20000 MONTVILLE CT B/E B/Q COM 615292JH3 2670 25000 SH SHARE 25000 MOODYS CORP COM 615369105 369 5035 SH SHARE 5035 MOORESTOWN TWP NJ 3.000% COM 616004PM3 75 75000 SH SHARE 01 75000 MORGAN J P & CO 6.25% COM 616880BH2 10 10000 SH SHARE 01 10000 JP MORGAN COM 61688AAX6 4870 45000 SH SHARE 45000 MORGAN STANLEY NT 8.33% COM 617446AL3 50 45000 SH SHARE 01 45000 MORGAN STANLEY GROUP INC COM 617446AZ2 2716 25000 SH SHARE 25000 MORGAN ST DEAN W 6.750% COM 617446GM5 252 225000 SH SHARE 01 225000 MORGAN STANLEY 5.300% COM 617446HR3 154 150000 SH SHARE 01 150000 MORGAN STANLEY COM 617446HW2 23603 235000 SH SHARE 235000 MORGAN STANLEY 4.250% COM 61744AAN0 101 100000 SH SHARE 01 100000 MORGAN STANLEY MTN 5.125% COM 61745ESM4 120 125000 SH SHARE 01 125000 MORGAN STANLY CAP TR III COM 617460209 230 9250 SH SHARE 9250 MORRIS CNTY NJ 4.750% COM 618023A54 108 100000 SH SHARE 01 100000 MORRIS CNTY NJ 2.875% COM 618023J55 286 300000 SH SHARE 01 300000 MOSHANNON PA 4.100% COM 619581ET4 15 15000 SH SHARE 01 15000 MOTOROLA INC 7.625% COM 620076AR0 117 100000 SH SHARE 01 100000 MOUNT LEBANON PA 3.900% COM 621813GH1 52 50000 SH SHARE 01 50000 MOUNT LEBANON PA 3.500% COM 621825DC9 194 200000 SH SHARE 01 200000 MOUNT LEBANON PA 4.450% COM 621842LJ0 78 75000 SH SHARE 01 75000 MOUNT LEBANON PA 4.550% COM 621842LK7 104 100000 SH SHARE 01 100000 MOUNT LEBANON PA SD RFDG COM 621842LS0 4543 45000 SH SHARE 45000 MOUNT LEBANON PA 2.250% COM 621842NC3 151 150000 SH SHARE 01 150000 MOUNT PLEASANT PA 2.600% COM 622598GT1 136 135000 SH SHARE 01 135000 MUHLENBERG PA 5.000% COM 624805HW0 52 50000 SH SHARE 01 50000 MUNI ASSIST CORP FOR COM 626190Y55 5486 50000 SH SHARE 50000 MUNI ASSIST CORP FOR COM 62619RBF9 995 10000 SH SHARE 10000 MUNIVEST FUND INC COM 626295109 95 10258 SH SHARE 10258 NBD BANCORP INC 7.125% COM 628900AF9 115 105000 SH SHARE 01 105000 NPB CAPITAL TR II 7.85% COM 62935R209 213 7800 SH SHARE 7800 NAM TAI ELECTRS INC NEW COM 629865205 1678 78600 SH SHARE 78600 NAMIBIAN MINERALS CORP COM 629913104 0 10000 SH SHARE 10000 NANTUCKET IS LD BK MASS COM 630187CW0 7006 65000 SH SHARE 65000 631 KEEBLER ROAD, KING OF PR COM 631 300 1 SH SHARE 01 1 NASDAQ-100 TRUST * COM 631100104 508 14450 SH SHARE 14450 NASSAU CNTY NY GEN IMPT COM 63165NCK2 2117 20000 SH SHARE 20000 NASSAU CNTY N Y GEN IMPT COM 63165NQG6 10720 100000 SH SHARE 100000 NATIONAL BK SO CAROLINA COM 634518BM5 9521 100000 SH SHARE 100000 NATIONAL CITY BK 2.500% COM 634902HN3 274 275000 SH SHARE 01 275000 NATIONAL CITY CORP COM 635405103 204 5293 SH SHARE 5293 NATIONAL RURAL UTILS 7.200% COM 637432CP8 179 150000 SH SHARE 01 150000 NATL RURAL UTILS 3.875% COM 637432CY9 25 25000 SH SHARE 01 25000 NATIONAL RURAL UTILS COM 637432CY9 25297 250000 SH SHARE 250000 NATL RURAL UTILITIES COM 63743HCE0 2139 20000 SH SHARE 20000 NATIONSBANK CORP COM 638585AP4 2958 25000 SH SHARE 25000 NAUGATUCK CT B/E B/Q COM 639064MT8 2739 25000 SH SHARE 25000 NAZARETH PA 4.400% COM 639438NF3 52 50000 SH SHARE 01 50000 SEI CORE FIXED INCOME FUND ( COM 64 301 28218 SH SHARE 01 28218 NEIMAN MARCUS GROUP INC COM 640204AB9 1714 15000 SH SHARE 15000 NESHAMINY PA WTR RES COM 640847DC0 548 5000 SH SHARE 5000 NESHAMINY PA SCH DIST COM 64084FDX6 2690 25000 SH SHARE 25000 NEW AMER HIGH INCOME FD INC COM 641876107 21 10000 SH SHARE 01 10000 NEW BRITAIN CT FGIC COM 642713XN6 5215 50000 SH SHARE 50000 NEW CASTLE PA 2.000% COM 643442JK3 70 70000 SH SHARE 01 70000 NEW ENGLAND TEL & TEL COM 644239BH7 5434 53000 SH SHARE 53000 NEW GARDEN PA VAR-CPN COM 644408AE6 300 300000 SH SHARE 01 300000 NEW HAMPSHIRE ST 5.000% COM 644614BS7 53 50000 SH SHARE 01 50000 NEW HAMPSHIRE HTH&ED FAC COM 644614GA1 2515 25000 SH SHARE 25000 NEW HAMPSHIRE ST 4.750% COM 64465MK61 51 50000 SH SHARE 01 50000 NEW HAMPSHIRE ST 4.700% COM 644682LJ3 52 50000 SH SHARE 01 50000 NEW HAVEN CT FGIC B/E COM 645019N71 2068 20000 SH SHARE 20000 NEW HOPE-SOLEBURY PA 4.100% COM 645500EC9 51 50000 SH SHARE 01 50000 NEW HOPE-SOLEBURY PA 3.600% COM 645500GK9 200 200000 SH SHARE 01 200000 NEW JERSEY B/A/R 5.000% COM 645771LR5 78 70000 SH SHARE 01 70000 NEW JERSEY ENVIRON 5.000% COM 645788MF4 109 100000 SH SHARE 01 100000 NEW JERSEY HLTH CARE FAC COM 64579ESA5 5679 55000 SH SHARE 55000 NJ HLTH CARE FACS 5.375% COM 64579EYR1 213 200000 SH SHARE 01 200000 NJ ECONOMIC DEV AUTH 4.000% COM 645916GP6 53 50000 SH SHARE 01 50000 NEW JERSEY RES CORP COM 646025106 531 12837 SH SHARE 12837 NEW JERSEY ST 4.500% COM 6460383B3 407 400000 SH SHARE 01 400000 NEW JERSEY ST 4.400% COM 6460384S5 104 100000 SH SHARE 01 100000 NEW JERSEY ST 5.250% COM 646039BU0 22 20000 SH SHARE 01 20000 NEW JERSEY ST 4.750% COM 646039BW6 38 35000 SH SHARE 01 35000 NEW JERSEY ST 5.250% COM 646039CF2 88 80000 SH SHARE 01 80000 NEW JERSEY ST 4.750% COM 646039CH8 173 165000 SH SHARE 01 165000 NEW JERSEY ST 4.500% COM 64605K3U2 98 100000 SH SHARE 01 100000 NEW JERSEY ST 5.000% COM 64605KXN5 109 100000 SH SHARE 01 100000 NEW JERSEY ST HSG & MTG COM 6461074K5 100000 1000000 SH SHARE 1000000 NEW JERSEY ST HSG 5.500% COM 646129BA3 100 100000 SH SHARE 01 100000 NEW JERSEY ST F/A/R 4.900% COM 646129XG6 102 100000 SH SHARE 01 100000 NEW JERSEY ST 4.000% COM 646133ES3 26 25000 SH SHARE 01 25000 NEW JERSEY ST 4.750% COM 646135GP2 103 100000 SH SHARE 01 100000 NEW JERSEY ST 5.000% COM 646135JW4 109 100000 SH SHARE 01 100000 NEW JERSEY ST TRANSN TR COM 646135WR0 3704 35000 SH SHARE 35000 NEW JERSEY ST 5.500% COM 646135XV0 16 15000 SH SHARE 01 15000 NEW JERSEY ST 5.500% COM 646135YJ6 37 35000 SH SHARE 01 35000 NEW KENSINGTON ARNOL 3.900% COM 646224GJ8 51 50000 SH SHARE 01 50000 NEW MILFORD CT B/E COM 647480KS0 10820 100000 SH SHARE 100000 NEW ORLEANS LA HOME MTG COM 647638RM9 1018 10000 SH SHARE 10000 NEW ORLEANS LA HM MTG COM 647638SC0 3619 35000 SH SHARE 35000 NEW YORK COMMUNITY COM 649445103 1631 79389 SH SHARE 79389 NEW YORK COMMUNITY BANK COM 649447DP1 10000 100000 SH SHARE 100000 NEW YORK CITY COM 649656AA3 1517 15000 SH SHARE 15000 NEW YORK CITY VAR PURP COM 649656BK0 2669 25000 SH SHARE 25000 NEW YORK CITY CORP PRAMS COM 649666KL7 4805 50000 SH SHARE 50000 NEW YORK CITY NY SER D COM 649667WV0 2642 25000 SH SHARE 25000 NEW YORK NY SER A COM 6496688F0 5370 50000 SH SHARE 50000 NEW YORK NY RFDG SER G COM 649668GE4 933 10000 SH SHARE 10000 NEW YORK CITY NY SER G COM 649668GX2 21170 200000 SH SHARE 200000 NEW YORK N Y SER H COM 649668SK7 1540 15000 SH SHARE 15000 NEW YORK NY GO BDS COM 649669F60 5240 50000 SH SHARE 50000 NEW YORK N Y COM 649669HC5 5358 50000 SH SHARE 50000 NEW YORK CITY NY SER B COM 64966A3G8 5397 50000 SH SHARE 50000 NEW YORK N Y RFDG COM 64966ADW2 5433 50000 SH SHARE 50000 NEW YORK NY SER D B/E COM 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4.000% COM 661148BH8 96 95000 SH SHARE 01 95000 NORTH PENN PA SCH DIST COM 661513GG0 1065 10000 SH SHARE 10000 NORTH PENN PA S/D 4.650% COM 661517PD8 108 100000 SH SHARE 01 100000 NORTH PENN PA S/D 4.650% COM 661517PU0 79 75000 SH SHARE 01 75000 NORTH PENN PA 3.750% COM 661517RF1 50 50000 SH SHARE 01 50000 NORTH PENN PA 3.900% COM 661517RG9 130 130000 SH SHARE 01 130000 NORTH PENN PA 4.000% COM 661517RH7 50 50000 SH SHARE 01 50000 NORTH PENN PA 5.600% COM 661524EA2 26 25000 SH SHARE 01 25000 NORTH PENN PA 5.650% COM 661524EB0 26 25000 SH SHARE 01 25000 NORTH POCONO PA 4.300% COM 661684HR4 102 100000 SH SHARE 01 100000 NORTH STAR PA 4.200% COM 662577CJ2 77 75000 SH SHARE 01 75000 NORTH WALES PA COM 663226GB8 7761 75000 SH SHARE 75000 NORTH WALES PA 5.250% COM 663226GF9 36 35000 SH SHARE 01 35000 NORTH WALES PA WTR AUTH COM 663226GR3 2590 25000 SH SHARE 25000 NORTH WALES PA 5.000% COM 663226HM3 52 50000 SH SHARE 01 50000 NORTHAMPTON CNTY PA 5.625% COM 663549LC5 50 50000 SH SHARE 01 50000 NORTHAMPTON PA 5.100% COM 663719KK7 77 75000 SH SHARE 01 75000 NORTHAMPTON PA AREA SCH COM 663719KP6 2581 25000 SH SHARE 25000 NORTHAMPTON PA 4.200% COM 663719LH3 25 25000 SH SHARE 01 25000 NORTHAMPTON PA 3.900% COM 663719QA3 51 50000 SH SHARE 01 50000 NORTHAMPTON PA 2.100% COM 663719QM7 157 160000 SH SHARE 01 160000 NORTHAMPTON TWP PA 5.000% COM 663730FK0 16 15000 SH SHARE 01 15000 NORTHEASTERN PA HOSP 5.150% COM 664551BX5 27 25000 SH SHARE 01 25000 NORTHEASTERN PA VAR-CPN COM 664556AQ0 300 300000 SH SHARE 01 300000 NORTHEASTERN PA 5.600% COM 664556AT4 15 15000 SH SHARE 01 15000 NORTHEASTERN PA 5.600% COM 664556AY3 10 10000 SH SHARE 01 10000 NTHEASTN YORK CNTY 4.700% COM 664707KJ4 20 20000 SH SHARE 01 20000 NORTHERN TR CO MTN 6.7% COM 66586GBB2 21 20000 SH SHARE 01 20000 N. 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100000 OLEY VALLEY PA 2.850% COM 680619GN7 101 100000 SH SHARE 01 100000 OMNICOM GROUP INC COM 681919106 1169 16000 SH SHARE 16000 ONE GROUP WV MUN BD FD^* COM 681939716 200 19175 SH SHARE 19175 ON SEMICONDUCTOR CORP COM 682189105 78 25000 SH SHARE 25000 ONEIDA HERKIMER NY FSA COM 682496BD5 5659 50000 SH SHARE 50000 OPPENHEIMER REAL ASSET^* COM 68380M108 212 20523 SH SHARE 20523 ORACLE CORP COM COM 68389X105 199 17606 SH SHARE 01 17606 ORACLE CORP COM 68389X105 343 30421 SH SHARE 30421 ORANGE CNTY CA PNSN OBLG COM 68428LAX2 3912 60000 SH SHARE 60000 ORANGE CNTY CA RCVRY COM 68428NAN0 27071 250000 SH SHARE 250000 ORANGE CNTY FLORIDA HLTH COM 684503W27 15823 150000 SH SHARE 150000 ORANGE CNTY FLA WTR & COM 684550EA0 1771 15000 SH SHARE 15000 ORANGE COUNTY NC B/E COM 684609RY8 2538 25000 SH SHARE 25000 FLORIDA ST 4.750% COM 686543LK3 48 45000 SH SHARE 01 45000 ORTHOVITA INC CDT-COM COM 68750U102 74 16505 SH SHARE 01 16505 OSCEOLA CNTY FL 3.300% COM 688031CR2 100 100000 SH SHARE 01 100000 OWEN J ROBERTS PA 4.250% COM 690690EJ7 53 50000 SH SHARE 01 50000 OWEN J ROBERTS PA 5.000% COM 690690EU2 53 50000 SH SHARE 01 50000 OWEN J ROBERTS SD PENN COM 690690FG2 1086 10000 SH SHARE 10000 OWEN J ROBERTS SD PENN COM 690690FV9 1617 15000 SH SHARE 15000 OWEN J ROBERTS PA 5.375% COM 690690FW7 16 15000 SH SHARE 01 15000 PHH CORP MTN 7.750% COM 69334WBD2 103 100000 SH SHARE 01 100000 PHH CORP MTN 6.550% COM 69334WDC2 101 100000 SH SHARE 01 100000 PHH CORP MTN 7.650% COM 69334WDD0 101 100000 SH SHARE 01 100000 PIMCO FDS MULTI MGR ^* COM 693389223 704 29976 SH SHARE 29976 PNC FINANCIAL SERVICES GROUP COM 693475105 749 13850 SH SHARE 01 13850 PNC FUNDING CORP COM 693476AL7 1630 15000 SH SHARE 15000 PNM RES INC COM 69349H107 557 24750 SH SHARE 01 24750 P P G INDUSTRIES INC COM 693506107 306 5000 SH SHARE 5000 PPG INDS INC 7.400% COM 693506AZ0 297 250000 SH SHARE 01 250000 PPL CORPORATION COM 69351T106 1065 22565 SH SHARE 01 22565 PPL CORP COM 69351T106 236 4999 SH SHARE 4999 PPL ENERGY 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INC COM COM 704326107 340 11284 SH SHARE 01 11284 PEN ARGYL PA 3.400% COM 706580JG3 103 100000 SH SHARE 01 100000 PEN ARGYL PA 3.900% COM 706580JJ7 51 50000 SH SHARE 01 50000 PENN CAMBRIA PA 4.450% COM 707267DZ0 53 50000 SH SHARE 01 50000 PENN CAMBRIA PA 4.600% COM 707267EB2 54 50000 SH SHARE 01 50000 PENN TREATY CONV 6.250% COM 707874AD5 93 90000 SH SHARE 01 90000 PENN VA RESOURCE PARTNRS COM 707884102 348 8700 SH SHARE 8700 PENNEY J C INC-MTN 6.875% COM 70816FAD5 298 280000 SH SHARE 01 280000 PENNRIDGE PA 4.000% COM 708349JZ9 52 50000 SH SHARE 01 50000 PENNRIDGE PA 4.050% COM 708349KZ7 51 50000 SH SHARE 01 50000 PENNS MANOR ASD PA FGIC COM 708413EX3 5067 50000 SH SHARE 50000 PENNSBURY PA 4.400% COM 708553JJ2 107 100000 SH SHARE 01 100000 PENNSBURY PA 4.550% COM 708553JK9 54 50000 SH SHARE 01 50000 PA ELECTRIC CO 6.625% COM 708696BM0 217 200000 SH SHARE 01 200000 PENNSYLVANIA ST 5.750% COM 70869PEB9 207 200000 SH SHARE 01 200000 PENN HFA SINGLE FAMILY COM 7087913P1 2510 25000 SH SHARE 25000 PA HOUSING FIN AGY 4.550% COM 7087922E5 107 100000 SH SHARE 01 100000 PA HSG FIN AGY 4.550% COM 7087922F2 27 25000 SH SHARE 01 25000 PENNSYLVANIA HSG 5.550% COM 708792FF8 26 25000 SH SHARE 01 25000 PENNSYLVANIA ST HSG FIN COM 708792GV2 2048 20000 SH SHARE 20000 PENN HSG FIN AGY SF MTG COM 708792LS3 2615 25000 SH SHARE 25000 PENNSYLVANIA HSG FIN AGY COM 708792T48 2644 25000 SH SHARE 25000 PENNSYLVANIA HSG FIN AGY COM 708792YN0 1054 10000 SH SHARE 10000 PA HOUSING FIN AGY 4.000% COM 708792Z82 26 25000 SH SHARE 01 25000 PENNSYLVANIA HSG FIN AGY COM 708792ZQ2 1594 15000 SH SHARE 15000 PA INTERGOVERNMENTAL 5.300% COM 708840ER0 53 50000 SH SHARE 01 50000 PENNSYLVANIA ST 5.375% COM 709141BP9 21 20000 SH SHARE 01 20000 PENNSYLVANIA ST 5.000% COM 709141EU5 106 100000 SH SHARE 01 100000 PENNSYLVANIA ST 5.000% COM 709141GF6 38 35000 SH SHARE 01 35000 PENNSYLVANIA ST 1ST SER COM 709141GF6 4954 45000 SH SHARE 45000 PENNSYLVANIA ST 5.000% COM 709141HR9 94 85000 SH SHARE 01 85000 PENNSYLVANIA ST SECOND COM 709141HU2 5544 50000 SH SHARE 50000 PENNSYLVANIA ST 4.500% COM 709141JN6 53 50000 SH SHARE 01 50000 PENNSYLVANIA ST 4.500% COM 709141JQ9 47 45000 SH SHARE 01 45000 PENNSYLVANIA ST FIRST COM 709141KL8 2743 25000 SH SHARE 25000 PENNSYLVANIA ST 5.250% COM 709141UJ2 113 100000 SH SHARE 01 100000 PENNSYLVANIA ST 5.000% COM 709141WJ0 106 100000 SH SHARE 01 100000 PENNSYLVANIA ST 4.750% COM 709141ZQ1 103 100000 SH SHARE 01 100000 PENNSYLVANIA ST 6.000% COM 709151HU1 15 15000 SH SHARE 01 15000 PENNSYLVANIA ST 4.400% COM 70915ABE3 52 50000 SH SHARE 01 50000 PENNSYLVANIA ST HIGHER COM 709170MP6 2645 25000 SH SHARE 25000 PENNSYLVANIA ST 4.500% COM 7091712W1 86 80000 SH SHARE 01 80000 PENNSYLVANIA ST 4.500% COM 7091712Z4 105 100000 SH SHARE 01 100000 PENN ST HI EFA COLLEGE & COM 7091713B6 5201 50000 SH SHARE 50000 PENNSYLVANIA ST 4.500% COM 7091713C4 52 50000 SH SHARE 01 50000 PENNSYLVANIA ST 4.500% COM 7091713D2 87 85000 SH SHARE 01 85000 PENN ST HIGHER EDL FACS COM 7091718H8 4820 45000 SH SHARE 45000 PENNSYLVANIA ST 5.000% COM 7091747M2 53 50000 SH SHARE 01 50000 PENNSYLVANIA ST 5.125% COM 709174P34 16 15000 SH SHARE 01 15000 PENNSYLVANIA ST 5.125% COM 709174P42 54 50000 SH SHARE 01 50000 PENNS ST HIED FACS ATH COM 70917NAK0 5519 50000 SH SHARE 50000 PENNSYLVANIA ST 4.875% COM 70917NDT8 52 50000 SH SHARE 01 50000 PENNSYLVANIA ST 4.000% COM 70917NE75 24 25000 SH SHARE 01 25000 PENNSYLVANIA ST 3.000% COM 70917NH56 46 45000 SH SHARE 01 45000 PENNSYLVANIA ST 5.000% COM 70917NNP5 52 50000 SH SHARE 01 50000 PENNSYLVANIA ST HI EDL COM 70917NPH1 2594 25000 SH SHARE 25000 PENNSYLVANIA ST 2.000% COM 70917NQA5 100 100000 SH SHARE 01 100000 PENNSYLVANIA ST 4.750% COM 70917NRL0 26 25000 SH SHARE 01 25000 PENNSYLVANIA ST HI EDL COM 70917NUQ5 5006 50000 SH SHARE 50000 PENNSYLVANIA ST 5.000% COM 70917NVC5 55 50000 SH SHARE 01 50000 PENNSYLVANIA ST 5.125% COM 70917PBY4 11 10000 SH SHARE 01 10000 PENNSYLVANIA ST 5.125% COM 70917PCB3 16 15000 SH SHARE 01 15000 PENN ST PUB SCH BLDG ATH COM 709208AS1 2633 25000 SH SHARE 25000 PENNSYLVANIA ST 4.000% COM 709208BC5 105 100000 SH SHARE 01 100000 PENNSYLVANIA ST PUB 4.300% COM 709208BE1 106 100000 SH SHARE 01 100000 PENNSYLVANIA ST 4.250% COM 709208CA8 51 50000 SH SHARE 01 50000 PENNSYLVANIA ST 3.000% COM 709208CL4 51 50000 SH SHARE 01 50000 PENNSYLVANIA ST 4.000% COM 709208DU3 157 150000 SH SHARE 01 150000 PENNSYLVANIA ST 2.750% COM 709221FQ3 227 225000 SH SHARE 01 225000 PENNSYLVANIA ST 5.250% COM 709221HH1 11 10000 SH SHARE 01 10000 PENNSYLVANIA ST 5.000% COM 709221HK4 96 90000 SH SHARE 01 90000 PENNSYLVANIA ST TPK ETM COM 709221HK4 5359 50000 SH SHARE 50000 PENNSYLVANIA ST 5.000% COM 709221JD8 62 60000 SH SHARE 01 60000 PENNSYLVANIA ST TPK COM 709221JD8 2592 25000 SH SHARE 25000 PENNSYLVANIA ST 4.500% COM 709221JL0 16 15000 SH SHARE 01 15000 PENNSYLVANIA ST 5.250% COM 709221JS5 39 35000 SH SHARE 01 35000 PENNSYLVANIA ST 5.250% COM 709221JT3 33 30000 SH SHARE 01 30000 PENNSYLVANIA ST TPK CMMN COM 709221JT3 11143 100000 SH SHARE 100000 PENNSYLVANIA ST 5.250% COM 709221JU0 22 20000 SH SHARE 01 20000 PENNSYLVANIA ST 5.000% COM 709221JV8 38 35000 SH SHARE 01 35000 PENNSYLVANIA ST 5.000% COM 709221JX4 11 10000 SH SHARE 01 10000 PENNSYLVANIA ST 4.500% COM 709221KE4 11 10000 SH SHARE 01 10000 PENNSYLVANIA ST 5.250% COM 709221KL8 17 15000 SH SHARE 01 15000 PENNSYLVANIA ST 5.250% COM 709221KM6 22 20000 SH SHARE 01 20000 PENNSYLVANIA ST 5.000% COM 709221KP9 16 15000 SH SHARE 01 15000 PENNSYLVANIA ST 5.000% COM 709221KR5 10 10000 SH SHARE 01 10000 PENNSYLVANIA ST 3.650% COM 709222AE3 52 50000 SH SHARE 01 50000 PENNSYLVANIA ST 4.300% COM 709222AK9 53 50000 SH SHARE 01 50000 PENNSYLVANIA ST TPK COM 709222AY9 2592 25000 SH SHARE 25000 PENNSYLVANIA ST 4.100% COM 709223NV9 105 100000 SH SHARE 01 100000 PENNSYLVANIA ST 4.500% COM 709223NY3 54 50000 SH SHARE 01 50000 PENNSYLVANIA ST 4.500% COM 709223NZ0 270 250000 SH SHARE 01 250000 PENNSYLVANIA ST UNIV 5.000% COM 709235JV8 30 30000 SH SHARE 01 30000 PENNSYLVANIA ST 3.700% COM 709235LR4 52 50000 SH SHARE 01 50000 PENNSYLVANIA ST 4.000% COM 709235LT0 153 145000 SH SHARE 01 145000 PENNSYLVANIA ST 5.250% COM 709235LW3 226 200000 SH SHARE 01 200000 PENTON MEDIA INC COM 709668107 2 10000 SH SHARE 10000 PEOPLES BANK BRIDGEPORT COM 710198102 295 8250 SH SHARE 8250 PEPSICO CAP RES INC COM 713440AW5 4596 50000 SH SHARE 50000 PEPSICO CAP RES INC GTD COM 713440AX3 2615 30000 SH SHARE 30000 PEPSICO CAP RES INC COM 713440AY1 2934 35000 SH SHARE 35000 PEPSICO CAP RES INC COM 713440BA2 7341 100000 SH SHARE 100000 PEPSICO CAP RES INC COM 713440BB0 4829 70000 SH SHARE 70000 PEPSICO INC COM COM 713448108 2932 60264 SH SHARE 01 60264 PEPSICO INCORPORATED COM 713448108 2135 43890 SH SHARE 43890 PEREGRINE PHARMACEUTICAL COM 713661106 58 35914 SH SHARE 35914 PETERS TWP PA 3.500% COM 716090NW1 26 25000 SH SHARE 01 25000 PETROLEO BRASILEIRO SPONSD ADR COM 71654V101 910 28500 SH SHARE 01 28500 PFIZER INC COM 717081103 9043 295534 SH SHARE 01 295534 PFIZER 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10000 100000 SH SHARE 100000 PHILADELPHIA PA WTR 5.625% COM 717893HG9 17 15000 SH SHARE 01 15000 PHIL PA WTR & WSTWTR REV COM 717893HG9 558 5000 SH SHARE 5000 PHILADELPHIA PA 5.000% COM 717893KM2 52 50000 SH SHARE 01 50000 PHILADELPHIA PA HOSP 6.200% COM 717903PZ5 91 90000 SH SHARE 01 90000 PHILADELPHIA PA 5.000% COM 717903TM0 30 30000 SH SHARE 01 30000 PHILADELPHIA PA 5.550% COM 717903WW4 21 20000 SH SHARE 01 20000 PHILIP MORRIS COS 7.125% COM 718154BW6 90 90000 SH SHARE 01 90000 PHILIP MORRIS COS INC COM 718154CA3 2586 25000 SH SHARE 25000 PHOENIX GOLD INTL INC COM 719068108 14 13000 SH SHARE 13000 PHOENIXVILLE PENN AREA COM 719189EX6 2631 25000 SH SHARE 25000 PHOENIXVILLE PA 2.900% COM 719189GH9 24 25000 SH SHARE 01 25000 PIKE CNTY PA 4.400% COM 721279DL8 53 50000 SH SHARE 01 50000 PIKE CNTY PA 5.750% COM 721279EG8 106 100000 SH SHARE 01 100000 PIMCO MUNICIPAL INCOME COM 72201A103 148 10376 SH SHARE 10376 PIONEER MUNICIPAL HIGH * COM 723763108 201 13900 SH SHARE 13900 PIONEER 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25000 SH SHARE 01 25000 POTTSGROVE PA 2.000% COM 738278PK0 50 50000 SH SHARE 01 50000 POTTSTOWN BORO PA 3.800% COM 738306DN6 51 50000 SH SHARE 01 50000 POTTSTOWN PA 4.700% COM 738365CQ6 52 50000 SH SHARE 01 50000 PRAXAIR INC COM 74005P104 248 5800 SH SHARE 01 5800 PRICE T ROWE GROUP INC COM 74144T108 903 17735 SH SHARE 01 17735 PRICE T ROWE GROUP INC COM 74144T108 397 7800 SH SHARE 7800 PRIMEDIA INC COM 74157K101 24 10000 SH SHARE 10000 PRINCE GEORGES CNTY MD COM 741701NG7 20580 200000 SH SHARE 200000 PROCTER & GAMBLE CO COM COM 742718109 2973 54928 SH SHARE 01 54928 PROCTER & GAMBLE COMPANY COM 742718109 4695 86751 SH SHARE 86751 PROCTER & GAMBLE CO COM 742718BW8 41739 400000 SH SHARE 400000 PROCTER & GAMBLE CO 4.300% COM 742718BX6 345 335000 SH SHARE 01 335000 PROCTER & GAMBLE CO COM 742718BY4 42615 425000 SH SHARE 425000 PROCTER & GAMBLE CO 4.850% COM 742718BZ1 101 100000 SH SHARE 01 100000 PROGRESSIVE CORP OH COM 743315103 1689 19935 SH SHARE 19935 PROGRESSIVE CORP OH 7.000% COM 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750514MZ1 105 105000 SH SHARE 01 105000 RADNOR TWP PA 3.000% COM 750514NF4 26 25000 SH SHARE 01 25000 RADNOR TWP PA 3.750% COM 750514NN7 100 100000 SH SHARE 01 100000 RADNOR TWP PA SR A B/E COM 750514NN7 2521 25000 SH SHARE 25000 RADNOR TWP PA RFDG SR A COM 750514NQ0 3020 30000 SH SHARE 30000 RADNOR TWP PA 4.100% COM 750514NR8 50 50000 SH SHARE 01 50000 RADNOR TWP PA SERIES AA COM 750514PH8 2554 25000 SH SHARE 25000 RADNOR TWP PA 3.850% COM 750514PJ4 51 50000 SH SHARE 01 50000 RADNOR TWP PA SCH DIST COM 750599BW1 4368 40000 SH SHARE 40000 RADNOR TWP PA 4.850% COM 750599DW9 55 50000 SH SHARE 01 50000 RADNOR TWP PA 5.000% COM 750599DZ2 55 50000 SH SHARE 01 50000 RAYFORD RD MUD TX WTRWKS COM 754632HQ3 5128 50000 SH SHARE 50000 RAYONIER INC * COM 754907103 339 7500 SH SHARE 7500 READING PA SCH DIST Z-CPN COM 755638NW9 22 25000 SH SHARE 01 25000 READING PA SCH DIST Z-CPN COM 755638PS6 19 25000 SH SHARE 01 25000 READING PA 3.800% COM 755638RC9 49 50000 SH SHARE 01 50000 RED LION PA 2.600% COM 756717GR9 25 25000 SH SHARE 01 25000 REEBOK INTL LTD COM 758110AC4 516 5000 SH SHARE 5000 RESOURCE BANK VAR-CPN COM 761198FZ8 99 100000 SH SHARE 01 100000 RHODE ISLAND ST 4.000% COM 76218TDP6 36 35000 SH SHARE 01 35000 RICHLAND TWP PA 3.300% COM 764210CJ7 56 55000 SH SHARE 01 55000 RICHLAND TWP PA 3.300% COM 764210CR9 40 40000 SH SHARE 01 40000 RICHMOND VA 5.125% COM 76541ECY9 164 150000 SH SHARE 01 150000 RIDLEY PA 4.650% COM 766357CT2 53 50000 SH SHARE 01 50000 RIDLEY TWP PA 4.000% COM 766445CA6 101 100000 SH SHARE 01 100000 ROANOKE TECH CORP NEW COM 770035202 2 1000000 SH SHARE 1000000 ROBINSON TWP PA 6.900% COM 770873AA5 23 20000 SH SHARE 01 20000 ROCHESTER PORTFOLIO ^* COM 771740107 149 44963 SH SHARE 44963 ROCKPORT MA B/E B/Q COM 773845CA8 5823 50000 SH SHARE 50000 ROCKVILLE MD SR A B/E COM 774217J61 4999 50000 SH SHARE 50000 ROHM & HAAS CO COM COM 775371107 241 5600 SH SHARE 01 5600 ROSE TREE MEDIA PA 3.300% COM 777152HK8 75 75000 SH SHARE 01 75000 ROSTRAVER TWP PA 5.200% 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4.150% COM 836030HC3 76 75000 SH SHARE 01 75000 SOUDERTON PA 3.600% COM 836030JM9 61 60000 SH SHARE 01 60000 SOUTH BRUNSWICK TWP NJ COM 836802LJ5 5192 50000 SH SHARE 50000 SOUTH BUTLER CNTY PA 5.400% COM 836891CM1 52 50000 SH SHARE 01 50000 SOUTH BUTLER CNTY PA 4.750% COM 836891DE8 52 50000 SH SHARE 01 50000 SOUTH CENT CT REGL WATER COM 837227PL5 6015 55000 SH SHARE 55000 YORK PA 3.125% COM 837677NZ2 75 75000 SH SHARE 01 75000 SOUTH FULTON TN INC IDB COM 837883AR8 10333 100000 SH SHARE 100000 SOUTH GLENS FALLS NY COM 838039GA7 5086 45000 SH SHARE 45000 SOUTH GLENS FALLS NY COM 838039GK5 557 5000 SH SHARE 5000 SOUTH WESTERN PA 3.500% COM 840659LH7 26 25000 SH SHARE 01 25000 SOUTH WINDSOR CT RFDG COM 840772TF4 2425 25000 SH SHARE 25000 SOUTHEASTERN PA 5.125% COM 842035EQ6 76 70000 SH SHARE 01 70000 SOUTHEASTERN PA 5.000% COM 842035EZ6 158 150000 SH SHARE 01 150000 SOUTHEASTERN PA 4.750% COM 842035FA0 30 30000 SH SHARE 01 30000 SOUTHERN COMPANY COM 842587107 265 8825 SH SHARE 8825 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857320VN2 5540 50000 SH SHARE 50000 PENNSYLVANIA ST 5.100% COM 857320WR2 54 50000 SH SHARE 01 50000 PENNSYLVANIA ST 3.250% COM 857320X59 50 50000 SH SHARE 01 50000 STATE PUB SCH PA 5.000% COM 8573213N1 53 50000 SH SHARE 01 50000 STATE PUB S/B/A PA 5.200% COM 8573214K6 51 50000 SH SHARE 01 50000 STATE PUB SCH BLD ATH PA COM 8573214K6 2535 25000 SH SHARE 25000 STATE PUB S/B/A PA 5.000% COM 8573215E9 53 50000 SH SHARE 01 50000 ST P/S/B AUTH PA 5.000% COM 8573216P3 54 50000 SH SHARE 01 50000 PENNSYLVANIA ST Z-CPN COM 857321QJ5 49 50000 SH SHARE 01 50000 STATE PUB SCH PA 5.000% COM 857321Z63 27 25000 SH SHARE 01 25000 STATE PA 5.500% COM 857322AR2 110 100000 SH SHARE 01 100000 STATE PA 5.500% COM 857322BJ9 54 50000 SH SHARE 01 50000 STATE PUB SCH BLDG ATH COM 857322EA5 5460 50000 SH SHARE 50000 STATE PUB SCH BLDG 4.300% COM 857322EN7 107 100000 SH SHARE 01 100000 ST P/S/B AUTH PA 4.400% COM 857322EP2 54 50000 SH SHARE 01 50000 STATE P/S/B AUTH PA 4.700% COM 857322FM8 52 50000 SH SHARE 01 50000 PENNSYLVANIA ST 4.000% COM 857322HK0 153 150000 SH SHARE 01 150000 PENNSYLVANIA ST 3.900% COM 857322HZ7 51 50000 SH SHARE 01 50000 STATE PUB SCH PA 3.100% COM 857322KM2 30 30000 SH SHARE 01 30000 PENNSYLVANIA ST 4.100% COM 857322NV9 48 50000 SH SHARE 01 50000 STATE STREET CORP COM 857477103 421 9860 SH SHARE 9860 STONEPATH GROUP INC COM 861837102 11 11850 SH SHARE 11850 STROUDSBURG PA A/S/D 5.650% COM 863475FJ3 26 25000 SH SHARE 01 25000 STROUDSBURG PA 5.250% COM 863475GZ6 55 50000 SH SHARE 01 50000 STROUDSBURG PA AREA SCH COM 863475HJ1 510 10000 SH SHARE 10000 STROUDSBURG PA 3.900% COM 863475KB4 26 25000 SH SHARE 01 25000 STROUDSBURG PA 4.100% COM 863475KD0 52 50000 SH SHARE 01 50000 STROUDSBURG PA 2.600% COM 863475KU2 51 50000 SH SHARE 01 50000 STROUDSBURG PA 2.000% COM 863475LL1 251 250000 SH SHARE 01 250000 STRYKER CORP COM 863667101 886 18430 SH SHARE 18430 STUDENT LOAN CORP COM 863902102 232 1640 SH SHARE 1640 SUGAR HILLS GA PUB UTIL COM 864902BJ9 10108 100000 SH SHARE 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COM 905811CB9 25 25000 SH SHARE 01 25000 UNION CNTY NJ 4.250% COM 906347GF0 106 100000 SH SHARE 01 100000 UNION CNTY NJ 3.200% COM 906347HR3 121 125000 SH SHARE 01 125000 UNION PA 4.150% COM 907809BU0 103 100000 SH SHARE 01 100000 UNION PAC CORP COM COM 907818108 421 7192 SH SHARE 01 7192 UNIONTOWN AREA PA 3.375% COM 909087DU9 310 310000 SH SHARE 01 310000 UNIONVILLE PA 4.750% COM 909124GN3 53 50000 SH SHARE 01 50000 UNIONVLE-CHDS FRD PA 5.100% COM 909124GU7 53 50000 SH SHARE 01 50000 UNIONVLE-CHDS FRD PA 5.000% COM 909124HN2 54 50000 SH SHARE 01 50000 UNIONVILLE-CHADDS PA 4.650% COM 909124JN0 51 50000 SH SHARE 01 50000 UNIONVILLE-CHADDS PA 4.500% COM 909124LV9 52 50000 SH SHARE 01 50000 UNISYS CORP COM 909214BE7 1028 10000 SH SHARE 10000 UNITED NATIONS DEV CORP COM 911157AY1 585 5000 SH SHARE 5000 UNITED PARCEL SVC COM 91131UCK8 2503 25000 SH SHARE 25000 UNITED PARCEL SVC COM 91131UEN0 2471 25000 SH SHARE 25000 UNITED PARCEL SVC COM 91131UFD1 4932 50000 SH SHARE 50000 U S AIR INC 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40000 U.S. TREASURY BONDS 7.500% COM 912810DX3 26 20000 SH SHARE 01 20000 U S TREASURY BOND COM 912810DX3 514 4000 SH SHARE 4000 U S TREASURY BOND COM 912810DZ8 3566 25000 SH SHARE 25000 U S TREASURY NOTE COM 9128272J0 7348 68000 SH SHARE 68000 U S TREASURY NOTE COM 9128272U5 33664 307000 SH SHARE 307000 U S TREASURY NOTE COM 9128273E0 10352 95000 SH SHARE 95000 U S TREASURY NOTE COM 9128274F6 22838 210000 SH SHARE 210000 U.S. TREASURY NOTES 4.750% COM 9128274V1 949 895000 SH SHARE 01 895000 U S TREASURY NOTE COM 9128274V1 10600 100000 SH SHARE 100000 U S TREASURY NOTE COM 9128275G3 5477 50000 SH SHARE 50000 U S TREASURY NOTE COM 9128275N8 16767 150000 SH SHARE 150000 U S TREASURY NOTE COM 9128275Z1 1721 15000 SH SHARE 15000 U S TREASURY NOTE COM 9128276D9 1543 15000 SH SHARE 15000 U S TREASURY NOTE COM 9128276T4 16125 150000 SH SHARE 150000 U.S. TREASURY NOTES 4.625% COM 9128276X5 636 615000 SH SHARE 01 615000 U.S. TREASURY NOTES 5.000% COM 9128277B2 161 150000 SH SHARE 01 150000 U S TREASURY NOTE COM 9128277B2 8060 75000 SH SHARE 75000 U.S. TREASURY NOTES 3.500% COM 9128277F3 280 275000 SH SHARE 01 275000 U S TREASURY NOTE COM 9128277L0 8525 80000 SH SHARE 80000 U.S. TREASURY NOTES 7.875% COM 912827R87 40 40000 SH SHARE 01 40000 U S TREASURY NOTE COM 912827R87 1511 15000 SH SHARE 15000 U.S. TREASURY NOTES 7.500% COM 912827S86 41 40000 SH SHARE 01 40000 U.S. TREASURY NOTES 6.500% COM 912827T85 478 465000 SH SHARE 01 465000 U S TREASURY NOTE COM 912827T85 15408 150000 SH SHARE 150000 U S TREASURY NOTE COM 912827U83 9026 87000 SH SHARE 87000 U S TREASURY NOTE COM 912827V82 15080 145000 SH SHARE 145000 U S TREASURY NOTE COM 912827W81 16710 160000 SH SHARE 160000 U S TREASURY NOTE COM 912827Y55 2695 25000 SH SHARE 25000 U S TREASURY NOTE COM 912827Z62 15610 145000 SH SHARE 145000 U.S. TREASURY NOTES 4.375% COM 912828AC4 104 100000 SH SHARE 01 100000 U S TREASURY NOTE COM 912828AJ9 20619 200000 SH SHARE 200000 U.S. TREASURY NOTES 3.000% COM 912828AN0 301 300000 SH SHARE 01 300000 U S TREASURY NOTE COM 912828AP5 22613 225000 SH SHARE 225000 U.S. TREASURY NOTES 3.000% COM 912828AT7 50 50000 SH SHARE 01 50000 U.S. TREASURY BONDS 2.000% COM 912828AY6 149 150000 SH SHARE 01 150000 U S TREASURY NOTE COM 912828BA7 12195 125000 SH SHARE 125000 U.S. TREASURY NOTES 2.000% COM 912828BJ8 349 350000 SH SHARE 01 350000 U.S. TREASURY NOTES 3.125% COM 912828BM1 100 100000 SH SHARE 01 100000 U.S. TREASURY NOTES 1.625% COM 912828BN9 99 100000 SH SHARE 01 100000 U S TREASURY NOTE COM 912828BR0 2532 25000 SH SHARE 25000 U.S. TREASURY NOTES 3.250% COM 912828BV1 100 100000 SH SHARE 01 100000 U S TREASURY NOTE COM 912828CA6 9922 100000 SH SHARE 100000 U.S. TREASURY NOTES 2.625% COM 912828CC2 97 100000 SH SHARE 01 100000 U S TREASURY NOTE COM 912828CT5 5053 50000 SH SHARE 50000 U.S. TREASURY NOTE 2.500% COM 912828CU2 100 100000 SH SHARE 01 100000 U S TREASURY NOTE COM 912828CV0 2501 25000 SH SHARE 25000 U S TREAS SEC STRIPPED COM 912833CN8 24563 250000 SH SHARE 250000 U S TREAS SEC STRIPPED COM 912833CP3 969 10000 SH SHARE 10000 U S TREAS SEC STRIPPED COM 912833CQ1 2861 30000 SH SHARE 30000 U S TREAS SEC STRIPPED COM 912833CR9 4689 50000 SH SHARE 50000 U S TREAS SEC STRIPPED COM 912833CT5 903 10000 SH SHARE 10000 U S TREAS SEC STRIPPED COM 912833CU2 2657 30000 SH SHARE 30000 U S TREAS SEC STRIPPED COM 912833CX6 825 10000 SH SHARE 10000 U S TREAS SEC STRIPPED COM 912833CY4 2415 30000 SH SHARE 30000 U S TREAS SEC STRIPPED COM 912833DB3 745 10000 SH SHARE 10000 U S TREAS SEC STRIPPED COM 912833DC1 2173 30000 SH SHARE 30000 U S TREAS SEC STRIPPED COM 912833DG2 1948 30000 SH SHARE 30000 U S TREAS SEC STRIPPED COM 912833FV7 13475 135000 SH SHARE 135000 U S TREAS SEC STRIPPED COM 912833FX3 976 10000 SH SHARE 10000 TINT 5/15/06 COM 912833FY1 22 23000 SH SHARE 01 23000 U S TREAS SEC STRIPPED COM 912833FZ8 9642 102000 SH SHARE 102000 U.S. TREASURY STRIP Z-CPN COM 912833GA2 16 17000 SH SHARE 01 17000 U S TREAS SEC STRIPPED COM 912833GB0 914 10000 SH SHARE 10000 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50000 SH SHARE 01 50000 UPPER SAUCON TWP PA 4.000% COM 916549CL0 30 30000 SH SHARE 01 30000 VCA ANTECH INC COM 918194101 816 39530 SH SHARE 39530 V F CORP COM COM 918204108 336 6800 SH SHARE 01 6800 V ONE CORP NEW COM 918278201 1 18600 SH SHARE 18600 VALLEY FORGE SCIENTIFIC COM 919656108 24 15000 SH SHARE 15000 VAN KAMPEN SR INCOME TR COM 920961109 114 13128 SH SHARE 13128 VAN KAMPEN UNIT TRUSTS * COM 92116V638 127 12800 SH SHARE 12800 VERIZON COMMUNICATIONS COM 92343V104 3370 85582 SH SHARE 01 85582 VERIZON COMMUNICATIONS COM 92343V104 3940 100052 SH SHARE 100052 VERIZON GLOBAL 6.750% COM 92344GAK2 366 350000 SH SHARE 01 350000 VERIZON GLOBAL FDG 6.875% COM 92344GAQ9 482 425000 SH SHARE 01 425000 VERIZON GLOBAL FDG 4.000% COM 92344GAU0 574 565000 SH SHARE 01 565000 VERIZON NEW ENGLAND 6.500% COM 92344RAA0 55 50000 SH SHARE 01 50000 VERIZON NEW ENGLAND 4.750% COM 92344RAB8 49 50000 SH SHARE 01 50000 VERIZON NEW ENG INC COM 92344RAB8 2460 25000 SH SHARE 25000 VERIZON PA 5.650% COM 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COM 994178267 200 2 SH SHARE 01 2 513 S LENOLA RD, MOORESTOWN, COM 995520004 630 1 SH SHARE 01 1 OTHERA PHARMACEUTICALS COMMO COM 995OTHERA 0 20000 SH SHARE 01 20000 CHICCINO HOME - 22 WALNUT DR COM 996620001 350 1 SH SHARE 01 1 3914-3920 GRANT AVE; PHILA, COM 997720008 240 1 SH SHARE 01 1 3884 PINE RD; HUNTINGTON VAL COM 998820005 420 1 SH SHARE 01 1 PENN INS ANNUITY CO #9154229 COM 999154222 2000 1 SH SHARE 01 1 ADVANCED CERAMETRICS, INC COM 99998855 0 22426 SH SHARE 01 22426 ROSEMONT PARTNERS I, LP COM 99LB20003 358 1 SH SHARE 01 1 LOUVERAIL ENTERPRISES, INC COM 99LOUVERA 0 315000 SH SHARE 01 315000 MTGE 1107 CHESTNUT LANE,FLOU COM 99MORT110 20 20000 SH SHARE 01 20000 CHANNELMETRX, INC -RESTRICTE COM 99PAT0069 100 50000 SH SHARE 01 50000 PENN MUTUAL DIV II CT #73212 COM 99PAT0077 818 1 SH SHARE 01 1 410 GRIBBEL RD; WYNCOTE, PA COM 99RE50206 310 1 SH SHARE 01 1 661 HIGHLAND TERRACE, HOLMES COM 99RE50305 211 1 SH SHARE 01 1 ALCOA INC COM AA 3895 115954 SH SHARE 01 115954 AMOCO 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7.125% COM BC77111 40 35000 SH SHARE 01 35000 BELLSOUTH CAP FDG 7.750% COM BCF7710 116 100000 SH SHARE 01 100000 BROWN-FORMAN CORP MTN 7.38% COM BCM7305 36 35000 SH SHARE 01 35000 BERGEN CNTY N J 4.800% COM BCN4809 109 100000 SH SHARE 01 100000 BERGEN CNTY NJ PCR 5.000% COM BCN5010 107 100000 SH SHARE 01 100000 BUCKS CNTY PA 4.300% COM BCP4305 51 50000 SH SHARE 01 50000 BERKS CNTY PA 4.400% COM BCP4410 42 40000 SH SHARE 01 40000 BUCKS CNTY PA 4.500% COM BCP4508 27 25000 SH SHARE 01 25000 BUCKS CNTY PA 4.600% COM BCP4605 103 100000 SH SHARE 01 100000 BUCKS CNTY PA 4.600% COM BCP4609 266 250000 SH SHARE 01 250000 BUCKS COUNTY PA 4.700% COM BCP4707 54 50000 SH SHARE 01 50000 BUCKS CNTY PA 4.700% COM BCP4708 107 100000 SH SHARE 01 100000 BUCKS CNTY PA WTR & 4.800% COM BCP4807 108 100000 SH SHARE 01 100000 BUCKS CNTY PA 4.850% COM BCP4810 271 250000 SH SHARE 01 250000 BUCKS CNTY PA CMNTY 5.200% COM BCP5209 81 75000 SH SHARE 01 75000 BEAVER CNTY PA 5.500% COM BCP5510 80 75000 SH SHARE 01 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COM COM BMY 1549 65429 SH SHARE 01 65429 BANKBOSTON NA 6.500% COM BN10007 109 100000 SH SHARE 01 100000 BURLINGTON NORTHN SANTA FE C COM BNI 240 6257 SH SHARE 01 6257 BANKBOSTON NA MTN 6.375% COM BNM6308 54 50000 SH SHARE 01 50000 BANKBOSTON NA MTN 6.375% COM BNM6308A 218 200000 SH SHARE 01 200000 BANK OF AMERICA CORP 4.875% COM BOA0012 51 50000 SH SHARE 01 50000 BANK ONE CORP MTN 6.000% COM BOC6009 49 45000 SH SHARE 01 45000 BANC ONE CORP 7.000% COM BOC7005 233 225000 SH SHARE 01 225000 BANK ONE TX N A 6.25% COM BOT6208 54 50000 SH SHARE 01 50000 BP AMOCO PLC SPONS ADR COM BP 6347 110331 SH SHARE 01 110331 BOYERTOWN PA AREA SD 4.150% COM BPA4108 53 50000 SH SHARE 01 50000 BRADFORD PA AREA S D 5.000% COM BPA5018 48 45000 SH SHARE 01 45000 BETHLEHEM PA SCH 5.000% COM BPS5013 27 25000 SH SHARE 01 25000 BETHLEHEM PA WTR AUT 5.000% COM BPW5010 26 25000 SH SHARE 01 25000 BURLINGTON RES INC COM BR 208 5100 SH SHARE 01 5100 BROADCOM CORP-CL A COM BRCM 305 11165 SH SHARE 01 11165 BRESLER & REINER INC COM COM BRER 754 26000 SH SHARE 01 26000 BEAR STEARNS COS MTN 5.550% COM BSC5524 192 200000 SH SHARE 01 200000 BEAR STEARNS COS INC 6.25% COM BSC6205 103 100000 SH SHARE 01 100000 BELLSOUTH TELECMMNCT 5.875% COM BT55809 134 125000 SH SHARE 01 125000 BANKERS TR NY CORP 6.000% COM BTN6008 54 50000 SH SHARE 01 50000 BANKERS TR N Y CORP 7.125% COM BTN7106 74 70000 SH SHARE 01 70000 BANKERS TR N Y CORP 7.5% COM BTN7515 214 182000 SH SHARE 01 182000 ANHEUSER BUSCH COS INC COM BUD 409 8198 SH SHARE 01 8198 BUTCHER & COMPANY LOAN COM BUTCCOM99 0 625000 SH SHARE 01 625000 BEAVER COAL LTD SH B/I C/H COM BVERS 369 485 SH SHARE 01 485 CITIGROUP INC COM C 9889 224144 SH SHARE 01 224144 CITICORP 6.375% COM C616306 52 50000 SH SHARE 01 50000 CITICORP 6.375% COM C616308 456 415000 SH SHARE 01 415000 CITICORP 7.25% COM C717211 228 195000 SH SHARE 01 195000 CITICORP 7.125% COM C757106 204 190000 SH SHARE 01 190000 CITICORP 7.200% COM C767207 33 30000 SH SHARE 01 30000 CITICORP 7.75% COM 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01 75000 CHESTER CNTY PA HEAL 5.000% COM CCP5008 54 50000 SH SHARE 01 50000 CHESTER CNTY PA HEAL 5.000% COM CCP5011 54 50000 SH SHARE 01 50000 CHESTER COUNTY PA 5.000% COM CCP5015 212 200000 SH SHARE 01 200000 CRAWFORD PA 4.300% COM CCS4311 52 50000 SH SHARE 01 50000 CRAWFORD CENT S/D PA 4.600% COM CCS4614 83 80000 SH SHARE 01 80000 COMMONWEALTH EDISON 7.000% COM CEC7005 52 50000 SH SHARE 01 50000 CONSTELLATION ENERGY GROUP I COM CEG 218 5484 SH SHARE 01 5484 CNA FINANCIAL 6.6% COM CF66608 166 155000 SH SHARE 01 155000 CINCINNATI G & E 6.400% COM CGE6408 216 200000 SH SHARE 01 200000 CIT GROUP HLDGS INC 5.875% COM CGH5808 107 100000 SH SHARE 01 100000 CITIGROUP INC 6.200% COM CI66209 55 50000 SH SHARE 01 50000 CITIGROUP INC 6.625% COM CI66605 104 100000 SH SHARE 01 100000 COLGATE PALMOLIVE CO COM CL 813 18005 SH SHARE 01 18005 CLOSURE MED CORP COM COM CLSR 907 63682 SH SHARE 01 63682 CHASE MANHATTAN CORP 6.000% COM CMC6005 135 130000 SH SHARE 01 130000 CHASE MANHATTAN CORP 6.000% COM CMC6009 253 235000 SH SHARE 01 235000 CHASE MANHATTAN CORP 6.375% COM CMC6308 81 75000 SH SHARE 01 75000 CHASE MANHATTAN CORP 6.500% COM CMC6509 274 250000 SH SHARE 01 250000 CHASE MANHAT CP 7.125% COM CMC7107 109 100000 SH SHARE 01 100000 CHASE MANHATTAN CORP 7.875% COM CMC7806 103 95000 SH SHARE 01 95000 COMCAST CORP-CL A COM CMCSA 765 27080 SH SHARE 01 27080 COMPUCOM SYS INC COM CMPC 160 34900 SH SHARE 01 34900 CAPITAL ONE FSB CD 5.400% COM COF5406 35 35000 SH SHARE 01 35000 CABOT OIL & GAS CORP CL A COM COG 319 7100 SH SHARE 01 7100 CONOCOPHILLIPS COM COP 3139 37884 SH SHARE 01 37884 COATESVILLE PA AREA 5.350% COM CPA5312 81 75000 SH SHARE 01 75000 CAMPBELL SOUP CO COM COM CPB 394 15000 SH SHARE 01 15000 CAROLINA PWR & LT CO 5.950% COM CPL5909 107 100000 SH SHARE 01 100000 COATESVILLE PA ASD 5.000% COM CPS5008 107 100000 SH SHARE 01 100000 CONSOL RAIL CORP 5.850% COM CRC5807 161 150000 SH SHARE 01 150000 COMPUTER SCIENCES 6.250% COM CS66209 54 50000 SH SHARE 01 50000 CAMPBELL SOUP CO 6.750% COM CSC0011 74 65000 SH SHARE 01 65000 CONNECTICUT ST CLEAN 4.750% COM CSC4717 110 100000 SH SHARE 01 100000 CISCO SYS INC COM COM CSCO 6238 344662 SH SHARE 01 344662 CHESTER UPLAND PA SC 5.100% COM CUP5112 48 45000 SH SHARE 01 45000 CVS CORP COM CVS 3593 85275 SH SHARE 01 85275 CHESAPEAKE VA SER A 5.375% COM CVS5314 48 45000 SH SHARE 01 45000 CHROMAVISION MED SYS INC COM COM CVSN 91 102050 SH SHARE 01 102050 CHEVRONTEXACO CORP COM CVX 11049 205991 SH SHARE 01 205991 CONRAD WEISER AREA S 4.700% COM CWA4706 26 25000 SH SHARE 01 25000 CONRAD WEISER AREA S 5.250% COM CWS5214 26 25000 SH SHARE 01 25000 CITIZENS & NORTHN CORP COM COM CZNC 469 18930 SH SHARE 01 18930 DOMINION RESOURCES INC VA COM D 5346 81936 SH SHARE 01 81936 DUKE CAPITAL CORP 7.5% COM DCC7509 85 75000 SH SHARE 01 75000 DUKE CAPITAL CORP 8.000% COM DCC8019 275 230000 SH SHARE 01 230000 DOW CHEM CO 8.55% COM DCC8509 30 25000 SH SHARE 01 25000 DOW CHEM CO 8.625% COM DCC8606 216 200000 SH SHARE 01 200000 DAIMLER CHRYSLER NA 7.400% COM DCN7405 51 50000 SH SHARE 01 50000 DAUPHIN CNTY PA VAR-CPN COM DCP0032 100 100000 SH SHARE 01 100000 DELAWARE CNTY PA 4.000% COM DCP4006 52 50000 SH SHARE 01 50000 DAUPHIN CNTY PA 4.000% COM DCP4006A 52 50000 SH SHARE 01 50000 DELAWARE CNTY PA 4.000% COM DCP4007 132 125000 SH SHARE 01 125000 DELAWARE CNTY PA 4.250% COM DCP4209 53 50000 SH SHARE 01 50000 DELAWARE CNTY PA 4.500% COM DCP4506 264 250000 SH SHARE 01 250000 DEL CNTY PA AUTH UNI 4.625% COM DCP4607 215 200000 SH SHARE 01 200000 DAUPHIN CNTY PA 4.600% COM DCP4611 63 60000 SH SHARE 01 60000 DELAWARE COUNTY PA 4.800% COM DCP4804 25 25000 SH SHARE 01 25000 DELAWARE CNTY PA 5.000% COM DCP5007 54 50000 SH SHARE 01 50000 DELAWARE CNTY PA 5.000% COM DCP5008 296 275000 SH SHARE 01 275000 DELAWARE CNTY PA A 5.000% COM DCP5018 81 75000 SH SHARE 01 75000 DELAWARE CNTY PA 5.100% COM DCP5105B 26 25000 SH SHARE 01 25000 DELAWARE CNTY PA 5.125% COM DCP5118 70 65000 SH SHARE 01 65000 DELAWARE CNTY PA 5.300% COM DCP5306 27 25000 SH SHARE 01 25000 DELAWARE CNTY PA 5.450% COM DCP5409 27 25000 SH SHARE 01 25000 DAUPHIN CNTY PA GEN 5.500% COM DCP5508 27 25000 SH SHARE 01 25000 DU PONT E I DE NEMOURS & CO COM DD 3115 72782 SH SHARE 01 72782 DUPONT DE NEMOURS 4.750% COM DDN4712 213 210000 SH SHARE 01 210000 DEERE & CO COM DE 3705 57395 SH SHARE 01 57395 DUKE POWER CORP 5.375% COM DEC5309 105 100000 SH SHARE 01 100000 DELL INC COM DELL 1587 44590 SH SHARE 01 44590 QUEST DIAGNOSTICS INC COM DGX 1142 12945 SH SHARE 01 12945 DISNEY WALT COMPANY NEW COM DIS 236 10445 SH SHARE 01 10445 DELAWARE GROUP TAX FREE USA COM DMTFX 135 11786 SH SHARE 01 11786 DOCUCORP INTL INC COM DOCC 111 13000 SH SHARE 01 13000 DOVER CORP COM COM DOV 741 19055 SH SHARE 01 19055 DOW CHEM CO COM COM DOW 2123 46990 SH SHARE 01 46990 DOWNINGTOWN PA 3.850% COM DP33805 25 25000 SH SHARE 01 25000 DOWNINGTOWN PA 4.700% COM DPA4712 52 50000 SH SHARE 01 50000 DOWNINGTOWN PA AREA 5.400% COM DPA5411 49 45000 SH SHARE 01 45000 DE RIVER & BAY 5.200% COM DRB5210 53 50000 SH SHARE 01 50000 DUKE REALTY CORP COM DRE 1653 49780 SH SHARE 01 49780 DE RIV PORT AUTH REV 5.100% COM DRP5110 580 525000 SH SHARE 01 525000 DELAWARE RIV PORT AU 5.400% COM DRP5415 106 100000 SH SHARE 01 100000 DELAWARE RIV PORT AU 6.000% COM DRP6010 11 10000 SH SHARE 01 10000 DELAWARE RIV PA 6.500% COM DRP6511 17 15000 SH SHARE 01 15000 DREYFUS STRATEGIC MUN BD FD COM DSM 112 13000 SH SHARE 01 13000 DERRY TWP PA MUN AUT 5.875% COM DTP5813 122 110000 SH SHARE 01 110000 DRX INC COM COM DTRH 0 26545 SH SHARE 01 26545 DUKE ENERGY CORP COM DUK 1895 82795 SH SHARE 01 82795 DELAWARE VALLEY PA R 5.750% COM DVP5711 21 20000 SH SHARE 01 20000 DIVERSA CORP COM DVSA 166 19886 SH SHARE 01 19886 DISNEY WALT CO 5.620% COM DWC5608 244 240000 SH SHARE 01 240000 DISNEY WALT CO 6.75% COM DWC6706 422 400000 SH SHARE 01 400000 DEAN WITTER DISCOVER 6.300% COM DWD6306 298 285000 SH SHARE 01 285000 ESCROW BETHLEHEM ST COM EBS0003 0 25000 SH SHARE 01 25000 ERIE CNTY PA HOSP 5.000% COM ECP5022 26 25000 SH SHARE 01 25000 DU PONT E I DE NMOUR 6.750% COM EDN6704 25 25000 SH SHARE 01 25000 EMERSON ELEC CO 5.000% COM EEC5008 52 50000 SH SHARE 01 50000 EMERSON ELEC CO 5.500% COM EEC5508 69 65000 SH SHARE 01 65000 EMERSON ELECTRIC CO 5.85% COM EEC5809 54 50000 SH SHARE 01 50000 ISHARES MSCI EAFE INDEX FUND COM EFA 300 2120 SH SHARE 01 2120 EVERGREEN PA MUNI BND FD-A # COM EKVAX 284 24552 SH SHARE 01 24552 EQUITABLE LIFE 6.95% COM EL66905 105 100000 SH SHARE 01 100000 EMC CORP MASS COM COM EMC 1575 136445 SH SHARE 01 136445 EMPIRE LTD CL A COM EMPA 218 9500 SH SHARE 01 9500 EMERSON ELEC CO COM COM EMR 2247 36300 SH SHARE 01 36300 EAST ORANGE NJ Z-CPN COM EON8118 230 425000 SH SHARE 01 425000 EQUITY OFFICE PPTYS TR COM COM EOP 334 12260 SH SHARE 01 12260 ERIE PA 5.500% COM EP55506 15 15000 SH SHARE 01 15000 ELIZABETHTOWN PA ARE 5.000% COM EPA5005 52 50000 SH SHARE 01 50000 ELIZABETHTOWN PA ARE 5.450% COM EPA5410 27 25000 SH SHARE 01 25000 EASTON PA AREA 6.000% COM EPA6007 11 10000 SH SHARE 01 10000 EVERGREEN CORE BOND-INST #47 COM ESBIX 179 16600 SH SHARE 01 16600 EVERGREEN LTD DURATION-I #44 COM ESDIX 147 14320 SH SHARE 01 14320 EAST WHITELAND PA Z-CPN COM EWP9108 89 100000 SH SHARE 01 100000 EXELON CORP COM EXC 1049 28596 SH SHARE 01 28596 FNMA 7.125% COM F30007 55 50000 SH SHARE 01 50000 FHLB 5.450% COM F515405 26 25000 SH SHARE 01 25000 FHLB 5.450% COM F515409 215 200000 SH SHARE 01 200000 FHLMC 5.750% COM F545708 216 200000 SH SHARE 01 200000 FNMA 5.750% COM F565705 26 25000 SH SHARE 01 25000 FHLB 5.330% COM F595305 77 75000 SH SHARE 01 75000 FHLB 7.000% COM F717009 100 100000 SH SHARE 01 100000 FHLB 7.000% COM F717009B 161 160000 SH SHARE 01 160000 FHLB 7.100% COM F717109 91 90000 SH SHARE 01 90000 FHLB 7.155% COM F717110 122 120000 SH SHARE 01 120000 FHLB 7.575% COM F727510 107 105000 SH SHARE 01 105000 FORTUNE BRANDS INC 6.250% COM FBI6208 55 50000 SH SHARE 01 50000 FORT COLLINS COLO 4.500% COM FCC0012 52 50000 SH SHARE 01 50000 FOX CHAPEL PA 3.900% COM FCP3904 50 50000 SH SHARE 01 50000 FOX CHAPEL PA AREA 4.400% COM FCP4410 319 300000 SH SHARE 01 300000 FFCB MED TERM NOTE 5.790% COM FCS5706 73 70000 SH SHARE 01 70000 FAIRFAX CNTY VA WTR 5.000% COM FCV5007 10 10000 SH SHARE 01 10000 FIRST DATA CORP COM COM FDC 445 10232 SH SHARE 01 10232 FEDERATED EQUITY FDS CAP APP COM FEDEX 386 16395 SH SHARE 01 16395 FFCB MED TERM NOTE 6.290% COM FFC6206A 42 40000 SH SHARE 01 40000 FNMA 5.875% COM FGB5806 60 58000 SH SHARE 01 58000 FPL GROUP CAP INC 7.375% COM FGC7309 114 100000 SH SHARE 01 100000 FRANKLIN FED TAX FREE INC FD COM FKTIX 217 17982 SH SHARE 01 17982 FRANKLIN US GOVT SECURITIES COM FKUSX 95 14259 SH SHARE 01 14259 FLEXTRONICS INTL LTD ORD COM FLEX 152 11500 SH SHARE 01 11500 FHLMC MTN 5.550% COM FM55516 101 100000 SH SHARE 01 100000 FORD MOTOR CREDIT 5.800% COM FMC5809 57 55000 SH SHARE 01 55000 FORD MTR CR CO 6.125% COM FMC6106 98 95000 SH SHARE 01 95000 FORD MTR CR 6.200% COM FMC6208 144 140000 SH SHARE 01 140000 FORD MOTOR CR CO 6.500% COM FMC6506 26 25000 SH SHARE 01 25000 FORD MOTOR CREDIT CO 7.2% COM FMC7207 324 300000 SH SHARE 01 300000 FORD MTR CR MTN 7.35% COM FMC7311 25 25000 SH SHARE 01 25000 FANNIE MAE COM FNM 1355 21377 SH SHARE 01 21377 FORTUNE BRANDS INC COM FO 4366 58935 SH SHARE 01 58935 FL PWR & LT 6.000% COM FPL6008 54 50000 SH SHARE 01 50000 FRANKLIN PA TAX FREE FUND #1 COM FRPAX 210 20128 SH SHARE 01 20128 FLORIDA ST 5.100% COM FS55108 27 25000 SH SHARE 01 25000 FLORIDA ST BRD ED 4.625% COM FSB4617 41 40000 SH SHARE 01 40000 FLORIDA ST BRD ED CA 5.125% COM FSB5106 26 25000 SH SHARE 01 25000 FLORIDA ST SER B 4.625% COM FSS4607 53 50000 SH SHARE 01 50000 FIRST UN CORP 7.000% COM FUC7006 53 50000 SH SHARE 01 50000 FIRST UNION CORP 7.700% COM FUC7705 138 135000 SH SHARE 01 135000 FIRST UN NATL BK N C 5.800% COM FUN5808 107 100000 SH SHARE 01 100000 FIRST UN NATL BK MTN 7.125% COM FUN7106 125 115000 SH SHARE 01 115000 GILLETTE CO COM G 378 9056 SH SHARE 01 9056 GMAC 6.25% COM G10007 16 15000 SH SHARE 01 15000 BUNGE LIMITED COM G16962105 303 7575 SH SHARE 7575 CONSOLIDATED WATER COM G23773107 319 13500 SH SHARE 13500 ESG RE LTD COM G31215109 0 16000 SH SHARE 16000 NABORS INDUSTRIES LTD COM G6359F103 715 15100 SH SHARE 15100 GMAC 6.150% COM G646107 126 120000 SH SHARE 01 120000 GMAC 6.150% COM G696108 102 100000 SH SHARE 01 100000 GANNETT INC COM GCI 456 5450 SH SHARE 01 5450 GTE CALIF INC 5.500% COM GCI5509 115 109000 SH SHARE 01 109000 GTE CALIF INC 6.7% COM GCI6709 111 100000 SH SHARE 01 100000 GTE CALIF INC 7.000% COM GCI7008 176 160000 SH SHARE 01 160000 GLOUCESTER CNTY NJ 5.450% COM GCN5411 51 50000 SH SHARE 01 50000 GENERAL DYNAMICS CORP COM GD 5839 57185 SH SHARE 01 57185 GENERAL ELECTRIC COMPANY COM GE 29048 865033 SH SHARE 01 865033 GE CAP CORP MTN 7.375% COM GEC0010 144 125000 SH SHARE 01 125000 GE CAPITAL CORP 6.125% COM GEC0011 198 180000 SH SHARE 01 180000 GENL ELEC CAP CORP 6.500% COM GEC6506 118 110000 SH SHARE 01 110000 GENERAL FOODS CORP 7.000% COM GF11 165 165000 SH SHARE 01 165000 AIM GLOBAL HEALTH CARE FD CL COM GGHCX 404 15429 SH SHARE 01 15429 GENERAL MILLS INC COM GIS 1043 23226 SH SHARE 01 23226 CORNING INC COM GLW 465 42000 SH SHARE 01 42000 GECC MTN 7.500% COM GM77505 103 100000 SH SHARE 01 100000 GMAC 6.125% COM GMA0008 53 50000 SH SHARE 01 50000 GENERAL MOTORS ACCEP 7.250% COM GMA0011 53 50000 SH SHARE 01 50000 GENERAL MTRS ACCEP 6.625% COM GMA6605 26 25000 SH SHARE 01 25000 GENL MTRS ACCPT CORP 7.750% COM GMA7710 165 150000 SH SHARE 01 150000 GRUMA SA SPONSORED ADR COM GMK 310 39000 SH SHARE 01 39000 GMAC MED TERM NOTE 7.000% COM GMT7009 105 100000 SH SHARE 01 100000 GTE NORTHWEST INC 6.300% COM GNI0010 109 100000 SH SHARE 01 100000 GTE NORTH INC 5.650% COM GNI5608 80 75000 SH SHARE 01 75000 GTE NORTH INC 6.375% COM GNI6310A 109 100000 SH SHARE 01 100000 GETTYSBURG PA MUN AU 4.650% COM GPM4610 109 100000 SH SHARE 01 100000 GETTYSBURG PA MUN A 5.000% COM GPM5023 62 60000 SH SHARE 01 60000 GRONLANDSBANKEN COM GRLB 455 7380 SH SHARE 01 7380 GOLDMAN SACHS GROUP INC COM GS 1423 15261 SH SHARE 01 15261 GMAC SMARTNOTES 6.500% COM GS66513 50 50000 SH SHARE 01 50000 GOLDMAN SACHS GROUP 6.65% COM GSG6609 629 565000 SH SHARE 01 565000 GOLDMAN SACHS GROUP 7.500% COM GSG7505 152 150000 SH SHARE 01 150000 GTE SOUTH INC 6.125% COM GSI6107 369 345000 SH SHARE 01 345000 GLAXO SMITHKLINE SPONSORED A COM GSK 761 17397 SH SHARE 01 17397 GLOUCESTER TWP NJ 5.100% COM GTN5106 26 25000 SH SHARE 01 25000 COLUMBIA PA INT MUNI BOND-Z COM GTPAX 117 11242 SH SHARE 01 11242 GARNET VALLEY PA SD 4.850% COM GVP4814 54 50000 SH SHARE 01 50000 HARBOR INTERNATIONAL FUND COM HAINX 608 15668 SH SHARE 01 15668 HSBC HOLDINGS PLC-SPONS ADR COM HBC 391 4904 SH SHARE 01 4904 HALLIBURTON CO 5.625% COM HC55608 89 85000 SH SHARE 01 85000 HOME DEPOT INC COM HD 2049 52263 SH SHARE 01 52263 HOUSEHOLD FIN CORP 6.375% COM HFC6310 55 50000 SH SHARE 01 50000 HOUSEHOLD FIN CORP 6.400% COM HFC6408 109 100000 SH SHARE 01 100000 HOUSEHOLD FIN CORP 6.450% COM HFC6409 110 100000 SH SHARE 01 100000 HOUSEHOLD FIN CO 6.500% COM HFC6508 270 245000 SH SHARE 01 245000 HOUSEHOLD FIN CORP 7.125% COM HFC7105 26 25000 SH SHARE 01 25000 HOUSEHOLD FIN CO 8.000% COM HFC8010 177 150000 SH SHARE 01 150000 HILLSBOROUGH TWP N J 5.400% COM HNJ5417 53 50000 SH SHARE 01 50000 HEINZ H J CO COM COM HNZ 1350 37490 SH SHARE 01 37490 HAZLETON PA AREA SCH 5.250% COM HPA5210 55 50000 SH SHARE 01 50000 HAZLETON PA A/S/A 6.000% COM HPA6007 38 35000 SH SHARE 01 35000 HEWLETT-PACKARD CO 7.150% COM HPC7105 57 55000 SH SHARE 01 55000 HEWLETT PACKARD CO COM HPQ 1686 89922 SH SHARE 01 89922 HARRISBURG PA Z-CPN COM HPW101506 48 50000 SH SHARE 01 50000 HYDRO QUEBEC MTN 6.97% COM HQM6905 102 100000 SH SHARE 01 100000 HOSPIRA INC COM HSP 280 9150 SH SHARE 01 9150 HERSHEY FOODS CORP COM COM HSY 310 6640 SH SHARE 01 6640 HAMILTON TWP NJ 4.600% COM HTN4605 26 25000 SH SHARE 01 25000 HILLSBOROUGH TWP N J 4.600% COM HTN4606 26 25000 SH SHARE 01 25000 NEW AMER HIGH INCOME FD INC COM HYB 21 10000 SH SHARE 01 10000 INTERNATIONAL BUSINESS MACHS COM IBM 7026 81946 SH SHARE 01 81946 IBM CORP 6.450% COM IC66407 81 75000 SH SHARE 01 75000 AMSOUTH LARGE CAP FUND-TRUST COM ILEIX 258 14808 SH SHARE 01 14808 IRONDEQUOIT NY 6.75% COM IN66704 76 75000 SH SHARE 01 75000 INTEL CORP COM INTC 5147 256578 SH SHARE 01 256578 INTERMOUNTAIN P/A/P 5.000% COM IP55013 30 30000 SH SHARE 01 30000 INGERSOLL-RAND CO-CL A COM IR 265 3900 SH SHARE 01 3900 ILLINOIS ST 5.000% COM IS55012 15 15000 SH SHARE 01 15000 ILLINOIS ST 5.400% COM IS55408 27 25000 SH SHARE 01 25000 INTL SHIPHOLDING CRP COM NEW COM ISH 856 60100 SH SHARE 01 60100 ILLINOIS TOOL WKS INC COM ITW 4017 43111 SH SHARE 01 43111 ISHARES TR RUSSEL 2000 VALUE COM IWN 1489 8670 SH SHARE 01 8670 ISHARES RUSSELL 2000 GROWTH COM IWO 1120 19110 SH SHARE 01 19110 ISHARES RUSSELL MIDCAP INDEX COM IWR 4007 57150 SH SHARE 01 57150 JERSEY CITY N J 5.100% COM JCN5114 54 50000 SH SHARE 01 50000 JERSEY CITY N J 5.200% COM JCN5208 54 50000 SH SHARE 01 50000 JERSEY CITY N J 5.500% COM JCN5513 55 50000 SH SHARE 01 50000 JOHNSON & JOHNSON COM COM JNJ 16637 295341 SH SHARE 01 295341 JP MORGAN CHASE & CO COM JPM 3215 80931 SH SHARE 01 80931 KOREA ELEC PWR CORP SPONS AD COM KEP 943 89400 SH SHARE 01 89400 KEYTECH LTD COM KEY BH 1816 180677 SH SHARE 01 180677 KIMBERLY CLARK CORP COM COM KMB 1201 18596 SH SHARE 01 18596 KINDER MORGAN INC KANSAS COM KMI 1013 16125 SH SHARE 01 16125 COCA COLA CO COM COM KO 1740 43455 SH SHARE 01 43455 KUTZTOWN PA ASD 4.100% COM KPA4108 132 125000 SH SHARE 01 125000 KENNETT PA CONS SD 5.100% COM KPC5108 51 50000 SH SHARE 01 50000 MBNA CORP COM COM KRB 8057 319727 SH SHARE 01 319727 KENTUCKY ST 7.200% COM KST7209 90 80000 SH SHARE 01 80000 LORD ABBETT AFFILIATED FD IN COM LAFFX 353 25894 SH SHARE 01 25894 LOEWS CORP 6.75% COM LC66706 42 40000 SH SHARE 01 40000 LEE CNTY FL 4.875% COM LCF4806 26 25000 SH SHARE 01 25000 LANCASTER CNTY PA VAR-CPN COM LCP0031 100 100000 SH SHARE 01 100000 LEHIGH CNTY PA 3.900% COM LCP3904 50 50000 SH SHARE 01 50000 LUZERNE CNTY PA 4.300% COM LCP4306 52 50000 SH SHARE 01 50000 LACKAWANNA COUNTY PA 4.300% COM LCP4308 42 40000 SH SHARE 01 40000 LEHIGH CNTY PA GEN P 5.300% COM LCP5307 77 75000 SH SHARE 01 75000 LEHIGH CNTY PA 5.500% COM LCP5511 53 50000 SH SHARE 01 50000 LEHIGH COUNTY PA 5.550% COM LCP5512 106 100000 SH SHARE 01 100000 L-3 COMMUNICATIONS HLDGS INC COM LLL 2465 36790 SH SHARE 01 36790 LILLY ELI & CO COM COM LLY 817 13606 SH SHARE 01 13606 LOWER MERION PA SD 5.000% COM LMP5008 109 100000 SH SHARE 01 100000 LOWER MORELAND TWP Z-CPN COM LMT2108 18 20000 SH SHARE 01 20000 LOWER MERION TWP PA 4.550% COM LMT4509 27 25000 SH SHARE 01 25000 LOWER MERION TWP PA 5.000% COM LMT5013A 52 50000 SH SHARE 01 50000 LOWER MERION TWP PA 5.000% COM LMT5023 72 70000 SH SHARE 01 70000 LOWER MERION TWP PA 5.100% COM LMT5114 26 25000 SH SHARE 01 25000 LOWER MERION TWP PA 5.250% COM LMT5215 110 100000 SH SHARE 01 100000 LEGG MASON VALUE TR INC #294 COM LMVTX 274 4835 SH SHARE 01 4835 LINCOLN NATL CORP 7.000% COM LNC7018 192 165000 SH SHARE 01 165000 LEHIGH NORTHAMPTON P 5.100% COM LNP0005 50 50000 SH SHARE 01 50000 LOWES COS INC COM LOW 4713 86720 SH SHARE 01 86720 LANCASTER PA 4.250% COM LP44209 53 50000 SH SHARE 01 50000 LANCASTER PA 4.000% COM LP50006 52 50000 SH SHARE 01 50000 LANCCSTER PA SER A 4.45% COM LPS4411 37 35000 SH SHARE 01 35000 LANCASTER PA SER A 4.650% COM LPS4613 26 25000 SH SHARE 01 25000 THORNBURG LTD TRM MUNI FD-A COM LTMFX 216 15590 SH SHARE 01 15590 LYNCHBURG VA 4.9% COM LV44911 26 25000 SH SHARE 01 25000 MASSACHUSETTS ST HSG 5.750% COM MA55706 36 35000 SH SHARE 01 35000 MOUNTAINTOP AREA PA 5.300% COM MAP5314 89 80000 SH SHARE 01 80000 MARRIOTT INTL INC NEW COM MAR 320 6150 SH SHARE 01 6150 MARION CNTY FLA 4.500% COM MCF4515 41 40000 SH SHARE 01 40000 MERCER CNTY N J IMPT 4.400% COM MCN4407 11 10000 SH SHARE 01 10000 MIDDLESEX CNTY NJ 5.550% COM MCN5510 53 50000 SH SHARE 01 50000 MONTGOMERY CNTY PA 4.300% COM MCP4306 26 25000 SH SHARE 01 25000 MONTGOMERY CNTY PA 4.400% COM MCP4409 58 55000 SH SHARE 01 55000 MONTGOMERY CNTY PA 4.500% COM MCP4508 27 25000 SH SHARE 01 25000 MONTGOMERY CNTY PA 4.800% COM MCP4805 26 25000 SH SHARE 01 25000 MONTGOMERY CNTY PA 4.850% COM MCP4807 160 150000 SH SHARE 01 150000 MONTGOMERY CNTY PA S 5.000% COM MCP5008 53 50000 SH SHARE 01 50000 MONTGOMERY CNTY PA 5.000% COM MCP5008A 80 75000 SH SHARE 01 75000 MONTGOMERY CNTY PA 5% COM MCP5009 80 75000 SH SHARE 01 75000 MONROE CNTY PA AREA 5.200% COM MCP5208 26 25000 SH SHARE 01 25000 MONTGOMERY CNTY PA 5.350% COM MCP5316 53 50000 SH SHARE 01 50000 MAY DEPT STORES CO 10.625% COM MDS1010 130 100000 SH SHARE 01 100000 MEDTRONIC INC COM COM MDT 891 17175 SH SHARE 01 17175 MIDCAP SPDR TR SERIES 1 COM MDY 349 3220 SH SHARE 01 3220 MELLON FINANCIAL CO 6.700% COM MFC6708 39 35000 SH SHARE 01 35000 MELLON FUNDING CORP 7.500% COM MFC7505 77 75000 SH SHARE 01 75000 MESA & GARFIELD SD 4.300% COM MGS4311 52 50000 SH SHARE 01 50000 MCGRAW-HILL COS INC COM COM MHP 1442 18098 SH SHARE 01 18098 MOTOROLA INC 5.800% COM MI55808 144 135000 SH SHARE 01 135000 MUNIYIELD NEW JERSEY INSD FD COM MJI 452 30000 SH SHARE 01 30000 MORGAN J P & CO INC 5.750% COM MJP5708 454 425000 SH SHARE 01 425000 MORGAN J P & CO MTN 6.000% COM MJP6009 404 375000 SH SHARE 01 375000 MORGAN J P & CO INC 6.875% COM MJP6807 108 100000 SH SHARE 01 100000 MC KEESPORT PA AREA 5.000% COM MKP5013 20 20000 SH SHARE 01 20000 MERRILL LYNCH 6.000% COM ML66005 103 100000 SH SHARE 01 100000 MERRILL LYNCH & CO 6.000% COM MLC1009 27 25000 SH SHARE 01 25000 MERRILL LYNCH & CO 6.375% COM MLC6308 98 90000 SH SHARE 01 90000 MERRILL LYNCH & CO I 6.500% COM MLC6518 386 350000 SH SHARE 01 350000 MERRILL LYNCH & CO 7.000% COM MLC7006 106 100000 SH SHARE 01 100000 MARSH & MCLENNAN COS INC COM MMC 1240 27098 SH SHARE 01 27098 3M CO COM MMM 7349 91902 SH SHARE 01 91902 MORRISTOWN NJ 5.050% COM MN55009 55 50000 SH SHARE 01 50000 MAINLAND NJ 5.250% COM MNJ5217 131 120000 SH SHARE 01 120000 ALTRIA GROUP INC COM MO 1998 42472 SH SHARE 01 42472 MOTOROLA INC COM COM MOT 184 10220 SH SHARE 01 10220 MEADVILLE PA 5.250% COM MP55208 21 20000 SH SHARE 01 20000 MONTOURSVILLE PA ARE 4.650% COM MPA4610 53 50000 SH SHARE 01 50000 MUHLENBERG PA SD 5.000% COM MPS0005 52 50000 SH SHARE 01 50000 MONESSEN PA SCH DIST 4.500% COM MPS4508 74 70000 SH SHARE 01 70000 MUHLENBERG PA SCH DI 5.300% COM MPS5314 53 50000 SH SHARE 01 50000 MERCK & CO INC COM COM MRK 13857 419901 SH SHARE 01 419901 MASSACHUSETTS ST 5.250% COM MS55207 27 25000 SH SHARE 01 25000 MICROSEMI CORP COM MSCC 155 11000 SH SHARE 01 11000 MICROSOFT CORP COM COM MSFT 9687 350359 SH SHARE 01 350359 MORGAN STANLEY GROUP 6.875% COM MSG6807 146 135000 SH SHARE 01 135000 MA ST WTR POL ABTEMT 5.100% COM MSW5105A 46 45000 SH SHARE 01 45000 MAHWAH TWP N J SCH D 5.100% COM MTN5111 28 25000 SH SHARE 01 25000 MUNIHOLDINGS NEW JERSEY INSD COM MUJ 513 35000 SH SHARE 01 35000 MILWAUKEE WIS AREA T 6.350% COM MWA6308 131 125000 SH SHARE 01 125000 MORGAN STANLEY COM MWD 331 6709 SH SHARE 01 6709 MOTHERS WORK INC COM MWRK 297 20500 SH SHARE 01 20500 MAXAM GOLD CORP COM MXAM 3 200000 SH SHARE 01 200000 MAXIM INTEGRATED PRODS INC C COM MXIM 775 18315 SH SHARE 01 18315 MADGE NETWORKS N V COM N5424G106 0 12200 SH SHARE 12200 NATIONAL PPTYS CORP COM COM NAPE 428 7648 SH SHARE 01 7648 NJ BLDG AUTH ST 4.750% COM NBA4717 207 200000 SH SHARE 01 200000 NATIONSBANK CORP 6.500% COM NC66506 16 15000 SH SHARE 01 15000 NATIONSBANK CORP 6.875% COM NC66805 51 50000 SH SHARE 01 50000 NATIONSBANK CORP 7.230% COM NC77212 116 100000 SH SHARE 01 100000 NATIONSBANK CORP 7.625% COM NC77605 103 100000 SH SHARE 01 100000 NATIONSBANK CORP 7.750% COM NC77715 121 100000 SH SHARE 01 100000 NCNB CORP 9.375% COM NC99309 173 140000 SH SHARE 01 140000 NATIONAL CITY CORP 6.875% COM NCC7819 231 200000 SH SHARE 01 200000 NORDSTROM CR INC 6.700% COM NCI6705 154 150000 SH SHARE 01 150000 NORWEST CORP M/T/N 6.2% COM NCM6205 36 35000 SH SHARE 01 35000 NORTH COVENTRY TWP 5.000% COM NCT5017 37 35000 SH SHARE 01 35000 NJ ECONOMIC DEV AUTH 5.300% COM NED5312 111 100000 SH SHARE 01 100000 NJ ECONOMIC DEV 5.400% COM NED5411 27 25000 SH SHARE 01 25000 NJ ECON DEV AUTH REV Z-CPN COM NED7115 66 105000 SH SHARE 01 105000 NATIONAL GRID TRANSCO PLC SP COM NGG 251 5862 SH SHARE 01 5862 NJ HLTH CARE FAC REV 5.000% COM NHC5010 54 50000 SH SHARE 01 50000 NJ HLTH CARE FAC REV 5.000% COM NHC5011 54 50000 SH SHARE 01 50000 NJ HLTH CARE FAC REV 5.000% COM NHC5012 54 50000 SH SHARE 01 50000 NJ HLTH CARE FAC REV 5.000% COM NHC5013 53 50000 SH SHARE 01 50000 NJ HLTH CARE FAC REV 5.250% COM NHC5212 109 100000 SH SHARE 01 100000 NEW JERSEY BLDG AUTH Z-CPN COM NJB6710 21 25000 SH SHARE 01 25000 N J H/F/C 5.000% COM NJH5013 91 90000 SH SHARE 01 90000 NEW JERSEY ST TRANSN 4.750% COM NJS4707 107 100000 SH SHARE 01 100000 NEW JERSEY ST 5.000% COM NJS5007 27 25000 SH SHARE 01 25000 N J ST EDL FACS REV 5.000% COM NJS5011 111 100000 SH SHARE 01 100000 NEW JERSEY ST TRANSN 5.000% COM NJS5012 108 100000 SH SHARE 01 100000 N J ST TRANSN TR FD 5.000% COM NJS5015 52 50000 SH SHARE 01 50000 NEW JERSEY ST TR 5.000% COM NJS5016 110 100000 SH SHARE 01 100000 NEW JERSEY ST EDL F 5.125% COM NJS5115 109 100000 SH SHARE 01 100000 NEW JERSEY ST EDL 5.125% COM NJS5118 111 100000 SH SHARE 01 100000 NEW JERSEY ST EDL F 5.125% COM NJS5119 139 125000 SH SHARE 01 125000 NEW JERSEY ST TRANSN 5.250% COM NJS5214 52 50000 SH SHARE 01 50000 N J ST TPK AUTH REV 6.000% COM NJS6014 22 20000 SH SHARE 01 20000 NEW JERSEY ST H/A 6.500% COM NJS6511 11 10000 SH SHARE 01 10000 NUVEEN NJ PREMIUM INC MUNI COM NNJ 467 30000 SH SHARE 01 30000 NORTHROP GRUMMAN CORP COM NOC 206 3870 SH SHARE 01 3870 NOKIA CORP SPNSD ADR COM NOK 2258 164555 SH SHARE 01 164555 NOVELL INC COM NOVL 1857 294240 SH SHARE 01 294240 NORRISTOWN PA AREA S 5.500% COM NPA5514 60 55000 SH SHARE 01 55000 NORTHAMPTON PA 6.000% COM NPB6013 62 55000 SH SHARE 01 55000 NORTH PENN PA 4.300% COM NPP4308 27 25000 SH SHARE 01 25000 NORTH PENN PA S/DIST 4.600% COM NPP4611 53 50000 SH SHARE 01 50000 NORTH PENN PA S/D 4.850% COM NPP4814 42 40000 SH SHARE 01 40000 NORTH PENN PA SCH DIST 5% COM NPP5008 26 25000 SH SHARE 01 25000 NESHAMINY PA SD 5.050% COM NPS5010 54 50000 SH SHARE 01 50000 NATL RURAL UTILS 5.700% COM NRU5710 107 100000 SH SHARE 01 100000 NATL RURAL UTILS 6.125% COM NRU6105 102 100000 SH SHARE 01 100000 NY ST ENVRNMTL FACS 4.800% COM NSE4809 54 50000 SH SHARE 01 50000 NESTLE S A SPONS ADR COM NSRGY 515 9000 SH SHARE 01 9000 NJ ST TRANSN TR FD 5.000% COM NST5010 54 50000 SH SHARE 01 50000 NJ ST TRANSN FD AUTH 5.000% COM NST5014 108 100000 SH SHARE 01 100000 NEW JERSEY ST 5.125% COM NST5108 42 40000 SH SHARE 01 40000 NORTEL NETWORKS CORP NEW COM NT 45 13220 SH SHARE 01 13220 BUTTERFIELD BANK COM NTB BH 2404 57926 SH SHARE 01 57926 NUVEEN NJ DVD ADV MUNI FD 2 COM NUJ 677 45000 SH SHARE 01 45000 NUVEEN MUN VALUE FD INC COM NUV 157 17115 SH SHARE 01 17115 NORFOLK VA 5.250% COM NV55212 27 25000 SH SHARE 01 25000 NOVO-NORDISK A S SPONS ADR COM NVO 712 13000 SH SHARE 01 13000 NORTHWESTERN BELL 6.25% COM NWB07 39 39000 SH SHARE 01 39000 NORTH WALES PA 5.000% COM NWP5015 106 100000 SH SHARE 01 100000 NUVEEN NJ DVD ADV MUNI FD COM NXJ 451 30000 SH SHARE 01 30000 NE YORK CNTY PA 2.200% COM NYC2208 248 250000 SH SHARE 01 250000 NEW YORK TEL CO 6.000% COM NYT6008 133 125000 SH SHARE 01 125000 NEW YORK TEL CO 6.125% COM NYT6110 139 130000 SH SHARE 01 130000 NEW YORK TEL CO 7.000% COM NYT7013 149 135000 SH SHARE 01 135000 OAKMARK FUND #110 COM OAKMX 456 11779 SH SHARE 01 11779 OCEAN CNTY NJ 5.000% COM OCN5013 108 100000 SH SHARE 01 100000 BANC ONE CORP 9.875% COM ONE09 123 100000 SH SHARE 01 100000 ORACLE CORP COM COM ORCL 408 36204 SH SHARE 01 36204 OCCIDENTAL PETE CORP COM COM OXY 3101 55445 SH SHARE 01 55445 PIEDMONT AVIA IN DEFAULT COM PA30007 158 585000 SH SHARE 01 585000 PITT & ALLGHENY CNTY 5.000% COM PAC5010 55 50000 SH SHARE 01 50000 PAYCHEX INC COM COM PAYX 941 31209 SH SHARE 01 31209 PETROLEO BRASILEIRO SA PETRO COM PBR 226 6400 SH SHARE 01 6400 PETROLEO BRASILEIRO SPONSD A COM PBR A 1369 42900 SH SHARE 01 42900 PINELLAS CNTY FLA SR 5.000% COM PCF5011A 27 25000 SH SHARE 01 25000 PLUM CREEK TIMBER CO INC COM PCL 272 7765 SH SHARE 01 7765 PEPSICO CAP RES INC Z-CPN COM PCR4110 16 20000 SH SHARE 01 20000 PENN CAMBRIA S/D PA 4.550% COM PCS4510 81 75000 SH SHARE 01 75000 PETRO-CDA COM COM PCZ 273 5250 SH SHARE 01 5250 PENN DELCO PA S/D 4.600% COM PDP4613 51 50000 SH SHARE 01 50000 PEPSICO INC COM COM PEP 7638 156993 SH SHARE 01 156993 POTOMAC ELEC PWR CO 6.500% COM PEP6508 11 10000 SH SHARE 01 10000 PFIZER INC COM PFE 15762 515088 SH SHARE 01 515088 PROCTER & GAMBLE CO COM COM PG 6696 123726 SH SHARE 01 123726 PROCTER & GAMBLE CO 6.600% COM PGC6604 101 100000 SH SHARE 01 100000 PROCTER & GAMBLE CO 6.875% COM PGC6809 114 100000 SH SHARE 01 100000 PENNSYLVANIA HFA 4.200% COM PH44207 37 35000 SH SHARE 01 35000 PENNSYLVANIA HFA 4.500% COM PH44510 94 90000 SH SHARE 01 90000 PENN HSG FIN AGY 5.000% COM PHF5014 26 25000 SH SHARE 01 25000 PA HSG FIN AGY REV 5.550% COM PHF5508 10 10000 SH SHARE 01 10000 PA HSG FIN AGY 7.5% COM PHF7510 31 30000 SH SHARE 01 30000 PHILA BIOLOGICS CENTER INC N COM PHILBIO99 0 216905 SH SHARE 01 216905 PENN HILLS MUNI PA 5.000% COM PHM5006 207 200000 SH SHARE 01 200000 PENN HILLS MUNI PA Z-CPN COM PHM6114 54 80000 SH SHARE 01 80000 PENNSYLVANIA I 5.000% COM PI55009 55 50000 SH SHARE 01 50000 PENNSYLVANIA INTERGO 5.250% COM PI55212 55 50000 SH SHARE 01 50000 PHILIP MORRIS COS INC 7.2% COM PMC7207 26 25000 SH SHARE 01 25000 POCONO MTN PA S/D 4.800% COM PMP4806 65 65000 SH SHARE 01 65000 PNC FINANCIAL SERVICES GROUP COM PNC 2738 50612 SH SHARE 01 50612 PNM RES INC COM PNM 557 24750 SH SHARE 01 24750 PARKLAND PA 4.500% COM PP44508 107 100000 SH SHARE 01 100000 PITTSBURGH PA 4.750% COM PP44712 53 50000 SH SHARE 01 50000 PHILADELPHIA PA 5.000% COM PP55009 27 25000 SH SHARE 01 25000 PARKLAND PA 5.000% COM PP55013 162 150000 SH SHARE 01 150000 PITTSBURGH PA 5.000% COM PP55017 26 25000 SH SHARE 01 25000 PITTSBURGH PA 5.125% COM PP55109 154 150000 SH SHARE 01 150000 PHILADELPHIA PA AUTH 5.000% COM PPA5010 21 20000 SH SHARE 01 20000 PHILADELPHIA PA 5.500% COM PPA5510 31 30000 SH SHARE 01 30000 PHILA PA ARPT REV 5.750% COM PPA5708 10 10000 SH SHARE 01 10000 P P G INDS INC COM COM PPG 250 4080 SH SHARE 01 4080 PHILA PA GAS WKS REV 4.875% COM PPG4810 26 25000 SH SHARE 01 25000 PHILADELPHIA PA HOSP 5.000% COM PPH5021 50 50000 SH SHARE 01 50000 PHILA PA HOSPS 5.250% COM PPH5212 71 65000 SH SHARE 01 65000 PPL CORPORATION COM PPL 2187 46359 SH SHARE 01 46359 PITTSBURGH PA 4.850% COM PPS4804 10 10000 SH SHARE 01 10000 PITTSBURGH PA 4.9% COM PPS4907 26 25000 SH SHARE 01 25000 PENNSBURY PA SCH DST 5.100% COM PPS5107 206 200000 SH SHARE 01 200000 POTTSGROVE SCH DIST- 5.300% COM PPS5310 25 25000 SH SHARE 01 25000 PHILA PA WTR & WASTE 5.500% COM PPW5514 21 20000 SH SHARE 01 20000 PITTSBURGH PA 5.600% COM PPW5613 26 25000 SH SHARE 01 25000 PITTSBURGH PA 5.600% COM PPW5614 26 25000 SH SHARE 01 25000 PITTSBURGH PA 7.250% COM PPW7214 12 10000 SH SHARE 01 10000 PITTSBURGH PA Z-CPN COM PPW9108 139 155000 SH SHARE 01 155000 T ROWE PRICE EQUITY INCOME F COM PRFDX 1289 51635 SH SHARE 01 51635 T ROWE PRICE HIGH YIELD COM PRHYX 679 96611 SH SHARE 01 96611 PROTEIN SCIENCES CORP COM PROTEIN 34 22500 SH SHARE 01 22500 T ROWE PRICE CAPITAL APPREC COM PRWCX 569 30411 SH SHARE 01 30411 PENNSYLVANIA ST 5.250% COM PS10010 234 210000 SH SHARE 01 210000 PENNSYLVANIA ST 4.400% COM PS44407 26 25000 SH SHARE 01 25000 PENNSYLVANIA ST 4.500% COM PS44504 100 100000 SH SHARE 01 100000 PENNSYLVANIA ST 4.500% COM PS44507 75 70000 SH SHARE 01 70000 PENNSYLVANIA ST 4.500% COM PS44510 54 50000 SH SHARE 01 50000 PENNSYLVANIA ST 4.500% COM PS44510A 107 100000 SH SHARE 01 100000 PENNSYLVANIA ST 4.625% COM PS44605 51 50000 SH SHARE 01 50000 PENNSYLVANIA ST 5.000% COM PS55005 52 50000 SH SHARE 01 50000 PENNSYLVANIA ST 5.000% COM PS55006A 53 50000 SH SHARE 01 50000 PENNSYLVANIA ST 5.000% COM PS55009B 27 25000 SH SHARE 01 25000 PENNSYLVANIA ST 5.000% COM PS55009C 28 25000 SH SHARE 01 25000 PENNSYLVANIA ST 5.000% COM PS55011 27 25000 SH SHARE 01 25000 PENNSYLVANIA ST 5.000% COM PS55012 83 75000 SH SHARE 01 75000 PENNSYLVANIA ST 5.000% COM PS55014 131 125000 SH SHARE 01 125000 PENN ST 5.125% COM PS55107 298 275000 SH SHARE 01 275000 PENNSYLVANIA STATE 5.125% COM PS55110 54 50000 SH SHARE 01 50000 PENNSYLVANIA ST 5.125% COM PS55111 54 50000 SH SHARE 01 50000 PENNSYLVANIA STATE 5.250% COM PS55211 139 125000 SH SHARE 01 125000 PENN ST FIRST SER 5.125% COM PSF5108 54 50000 SH SHARE 01 50000 PA ST FIRST SER 5.375% COM PSF5308 268 250000 SH SHARE 01 250000 PA ST HIGH EDL FACS 4.250% COM PSH4207 79 75000 SH SHARE 01 75000 PA ST HGHR ED FACS 4.400% COM PSH4406 105 100000 SH SHARE 01 100000 PA ST HIGHER EDL FAC 5.250% COM PSH5214 83 75000 SH SHARE 01 75000 PENN ST HIGH EDL FAC 5.500% COM PSH5509 42 40000 SH SHARE 01 40000 PENNSYLVANIA ST HGHR 5.600% COM PSH5610 36 35000 SH SHARE 01 35000 PENN ST HIGH EDL FAC 5.600% COM PSH5610A 42 40000 SH SHARE 01 40000 PENNSYLVANIA ST HGHR 5.900% COM PSH5914 10 10000 SH SHARE 01 10000 PA ST HIGHER EDL FACS AU 7% COM PSH7017 66 50000 SH SHARE 01 50000 PUGET SOUND PWR & LT 7.75% COM PSP7707 110 100000 SH SHARE 01 100000 PENN TREATY AMERN CORP COM PTA 1992 1171986 SH SHARE 01 1171986 PENN TREATY AMERN CORP RESTR COM PTAR 1558 916667 SH SHARE 01 916667 PARTNERS NATL CORP COM PTNJ 1 100000 SH SHARE 01 100000 PASSAIC VALLEY NJ 5.750% COM PVN5706 32 30000 SH SHARE 01 30000 PLEASANT VY PA S/D 4.100% COM PVP4108 53 50000 SH SHARE 01 50000 PLEASANT VY PA SCH DI 4.85% COM PVP4805 52 50000 SH SHARE 01 50000 PERKIOMEN VY SCH DIS 4.650% COM PVS4607 106 100000 SH SHARE 01 100000 PRINCE WILLIAM CNTY 5.625% COM PWC5612 50 50000 SH SHARE 01 50000 PAINE WEBBER GROUP 8.875% COM PWG8805 84 82000 SH SHARE 01 82000 PRAXAIR INC COM PX 374 8750 SH SHARE 01 8750 QUALCOMM INC COM COM QCOM 209 5350 SH SHARE 01 5350 QUABBIN MASS REGL SC 5.000% COM QMR5015 16 15000 SH SHARE 01 15000 ROYAL DUTCH PETE CO COM RD 1895 36732 SH SHARE 01 36732 ROCKWELL INTL CORP 6.150% COM RIC6108 81 75000 SH SHARE 01 75000 ROCKWELL INTL CORP 6.625% COM RIC6605 154 150000 SH SHARE 01 150000 RED LION PA ASD 4.150% COM RLP4107 52 50000 SH SHARE 01 50000 BLACKROCK NJ TX EX MIT MONTH COM RNJ 508 35000 SH SHARE 01 35000 ROCHESTER N Y 6.700% COM RNY6712 114 100000 SH SHARE 01 100000 ROHM & HAAS CO COM COM ROH 241 5600 SH SHARE 01 5600 READING PA 4.550% COM RP44504 25 25000 SH SHARE 01 25000 READING PA 5.100% COM RP55119 26 25000 SH SHARE 01 25000 RIDLEY PA SCH DIST 4.750% COM RPS4713 80 75000 SH SHARE 01 75000 RUTGERS ST UNIV NJ 4.250% COM RSU4209 16 15000 SH SHARE 01 15000 RUTGERS ST UNIV NJ 5.000% COM RSU5012 27 25000 SH SHARE 01 25000 ROSE TREE MEDIA PA 4.200% COM RTM4209 319 300000 SH SHARE 01 300000 RADNOR TWP PA 5.000% COM RTP5008 128 125000 SH SHARE 01 125000 RADNOR TWP PA SCH DI 5.100% COM RTP5112 107 100000 SH SHARE 01 100000 RADNOR TWP PA SCH DI 5.500% COM RTP5511 27 25000 SH SHARE 01 25000 RADNOR TWP PA SCH DI 5.550% COM RTP5512 108 100000 SH SHARE 01 100000 RICHMOND VA EXPWY 5.400% COM RVE5413 21 20000 SH SHARE 01 20000 ROYCE TOTAL RETURN FUND INV COM RYTRX 605 53516 SH SHARE 01 53516 SHERRITT INTERNATIONAL CORP COM S CN 1782 283000 SH SHARE 01 283000 SARASOTA MANATEE FL 5.100% COM SA55506 53 50000 SH SHARE 01 50000 SAPIENT CORP COM SAPE 114 15000 SH SHARE 01 15000 SOUTHTRUST BK 7.000% COM SB77008 113 100000 SH SHARE 01 100000 SWARTHMORE BORO AUTH 4.375% COM SBA4306 105 100000 SH SHARE 01 100000 SBC COMMUNICATIONS INC COM COM SBC 2465 94974 SH SHARE 01 94974 SUNTRUST BKS INC 7.375% COM SBI7306 11 10000 SH SHARE 01 10000 SOUTHWESTERN BEL TEL 6.625% COM SBT6605 46 45000 SH SHARE 01 45000 SOUTHWESTRN BELL TEL 6.625% COM SBT6607 108 100000 SH SHARE 01 100000 SOUTHWESTRN BELL TEL 7.000% COM SBT7015 204 180000 SH SHARE 01 180000 SHELL TRANSPORT & TRADING PL COM SC 450 10100 SH SHARE 01 10100 SARASOTA CNTY FLA UTIL 4.7% COM SCF4707 27 25000 SH SHARE 01 25000 SARASOTA CNTY FLA 4.800% COM SCF4810 40 40000 SH SHARE 01 40000 U.S. TREASURY STRIP Z-CPN COM SCPI14 42 50000 SH SHARE 01 50000 SEMPRA ENERGY 7.950% COM SE77910 176 150000 SH SHARE 01 150000 SENECA FOODS CORP NEW CL A COM SENEA 341 18700 SH SHARE 01 18700 SOFTBRANDS INC COM SFBD 24 21558 SH SHARE 01 21558 SAFEGUARD SCIENTIFICS INC CO COM SFE 1798 961725 SH SHARE 01 961725 SECURED FIN INC 9.05% COM SFI9004 152 150000 SH SHARE 01 150000 SAVANNAH GA HOS AUTH 6.625% COM SGH6618 106 100000 SH SHARE 01 100000 SALOMON INC 6.75% COM SI66706 79 75000 SH SHARE 01 75000 SIRUS SATELLITE RADIO INC COM SIRI 34 10500 SH SHARE 01 10500 SEAGRAM LTD 8.35% COM SL88306 64 60000 SH SHARE 01 60000 SCHLUMBERGER LTD COM SLB 225 3350 SH SHARE 01 3350 SARA LEE CORP MTN 5.600% COM SLC5605 51 50000 SH SHARE 01 50000 SARA LEE CORP M/T/N 5.950% COM SLC5906 119 115000 SH SHARE 01 115000 SARA LEE CORP MTN 6.300% COM SLC6305 72 70000 SH SHARE 01 70000 SARA LEE CORP COM SLE 400 17500 SH SHARE 01 17500 SAN MARCOS CALIF AGY 7.040% COM SMC7013 218 200000 SH SHARE 01 200000 SMITH INVT CO COM COM SMIC 480 11700 SH SHARE 01 11700 S ORANGE/MAPLEWOOD 5.375% COM SN55305 26 25000 SH SHARE 01 25000 SOMERVILLE N J SCH D 4.800% COM SNJ4819 210 200000 SH SHARE 01 200000 STATE PA 5.200% COM SP55216 168 150000 SH SHARE 01 150000 SIMON PPTY GROUP INC NEW COM SPG 242 4517 SH SHARE 01 4517 STAPLES INC COM COM SPLS 5134 172155 SH SHARE 01 172155 STATE PUB SCH BLDG A 5.000% COM SPS5010 55 50000 SH SHARE 01 50000 STATE PUB SBA 5.000% COM SPS5021 55 50000 SH SHARE 01 50000 ST PUB SBA PA COLLGE 5.150% COM SPS5108 110 100000 SH SHARE 01 100000 SOUTHEASTERN PA T 5.400% COM SPT5410 55 50000 SH SHARE 01 50000 SPDR TR COM SPY 717 6415 SH SHARE 01 6415 SEARS ROEBUCK 6.7% COM SR66706 16 15000 SH SHARE 01 15000 SEARS ROEBUCK ACCEP 6.125% COM SRA6106 260 250000 SH SHARE 01 250000 COLUMBIA MANAGED MUNIS FD-Z COM SRMMX 96 10614 SH SHARE 01 10614 SIERRA PAC RES NEW COM SRP 814 91000 SH SHARE 01 91000 SLIPPERY ROCK PA 5.050% COM SRP5010 102 100000 SH SHARE 01 100000 SALOMON SMITH BARNEY 6.25% COM SSB6205 51 50000 SH SHARE 01 50000 SALOMON SMITH BARNEY 7.125% COM SSB7106 38 35000 SH SHARE 01 35000 SUNTRUST BKS INC COM STI 1091 15500 SH SHARE 01 15500 SALISBURY TWP PA 5.100% COM STP5106 36 35000 SH SHARE 01 35000 SALISBURY TWP PA 5.150% COM STP5107 51 50000 SH SHARE 01 50000 SHALER TWP PA 6.500% COM STP6511 38 35000 SH SHARE 01 35000 SPRINGFIELD TWP SD 4.450% COM STS4407 27 25000 SH SHARE 01 25000 STATE STR CORP COM STT 462 10825 SH SHARE 01 10825 SUN BANCORP INC COM SUBI 535 23100 SH SHARE 01 23100 SUFFOLK VA 4.800% COM SV44810 27 25000 SH SHARE 01 25000 STRYKER CORP COM SYK 2767 57550 SH SHARE 01 57550 SYMANTEC CORPORATION COM SYMC 203 3700 SH SHARE 01 3700 TRINITY AREA SD PA 5.200% COM TAS5212 55 50000 SH SHARE 01 50000 TCI COMMUNICATIONS 6.875% COM TC66806 52 50000 SH SHARE 01 50000 TEXACO CAPITAL INC 8.000% COM TCI8032 13 10000 SH SHARE 01 10000 TEVA PHARMACEUTICAL INDS LTD COM TEVA 1991 76735 SH SHARE 01 76735 TELEFLEX INC COM COM TFX 336 7900 SH SHARE 01 7900 TARGET CORP COM TGT 286 6325 SH SHARE 01 6325 ISHARES LEHMAN TRES INFL PRO COM TIP 1199 11505 SH SHARE 01 11505 TELLABS INC COM COM TLAB 3434 373650 SH SHARE 01 373650 TALISMAN ENERGY INC COM TLM 1282 49500 SH SHARE 01 49500 TIMES MIRROR CO NEW 7.25% COM TMC7213 58 50000 SH SHARE 01 50000 TELEFONOS DE MEXICO S A ADR COM TMX 339 10500 SH SHARE 01 10500 TRENTON NJ 4.400% COM TN44410 74 70000 SH SHARE 01 70000 TOLEDO OHIO 6.8% COM TO66815 54 50000 SH SHARE 01 50000 TRILOGY RESOURCES CORP COM TRILRES99 0 33733 SH SHARE 01 33733 PRICE T ROWE GROUP INC COM TROW 3092 60695 SH SHARE 01 60695 TREDYFFRIN TWP PA 4.750% COM TTP4704 20 20000 SH SHARE 01 20000 TREDYFFRIN TWP PA 5% COM TTP5007 53 50000 SH SHARE 01 50000 TEXAS UTILS ELEC CO 6.25% COM TUE6204 10 10000 SH SHARE 01 10000 MARITRANS INC COM TUG 710 46000 SH SHARE 01 46000 TENN VALLEY AUTH 6.375% COM TVA6305 103 100000 SH SHARE 01 100000 TWIN VALLEY PA SD 4.500% COM TVP4511 42 40000 SH SHARE 01 40000 TIME WARNER COMPANIES INC COM TWI9123 127 100000 SH SHARE 01 100000 TEXAS INSTRS INC COM TXN 501 23560 SH SHARE 01 23560 TYCO INTL LTD NEW COM TYC 762 24850 SH SHARE 01 24850 UNION CAMP CORP 6.500% COM UCC6507 54 50000 SH SHARE 01 50000 USL CAP CORP MTN 6.66% COM UCC6605 36 35000 SH SHARE 01 35000 UNION CNTY PA 4.300% COM UCP4311 52 50000 SH SHARE 01 50000 UPPER DUBLIN PA SD 4.600% COM UDP4611 53 50000 SH SHARE 01 50000 UPPER DUBLIN PA 5.000% COM UDP5008 108 100000 SH SHARE 01 100000 UNIONVILLE-CHADDS FO 4.550% COM UF44508 160 150000 SH SHARE 01 150000 USX-MARATHON GROUP 9.125% COM UG99113 129 100000 SH SHARE 01 100000 UNIVERSAL HEALTH RLTY INCOME COM UHT 303 9990 SH SHARE 01 9990 UPPER MERION PA ASD 4.750% COM UMP0010 292 275000 SH SHARE 01 275000 UPPER MERION PA ASD 4.750% COM UMP4709 54 50000 SH SHARE 01 50000 UPPER MERION PA AREA 5.000% COM UMP5013 76 70000 SH SHARE 01 70000 UNITED CORPS LTD COM UNC 250 7500 SH SHARE 01 7500 UNITEDHEALTH GROUP INC COM UNH 2786 37775 SH SHARE 01 37775 UNION PAC CORP COM COM UNP 460 7842 SH SHARE 01 7842 U S AIR INC IN DEFAULT COM USA1004 8 30000 SH SHARE 01 30000 U S AIR INC 10.900% COM USA1008 5 20000 SH SHARE 01 20000 U.S. TREASURY NOTES 5.500% COM UST5508 486 450000 SH SHARE 01 450000 U.S. TREASURY NOTES 5.500% COM UST5509 301 275000 SH SHARE 01 275000 U.S. TREASURY NOTES 5.625% COM UST5606 929 890000 SH SHARE 01 890000 U.S. TREASURY NOTES 5.625% COM UST5608 256 235000 SH SHARE 01 235000 U.S. TREASURY NOTES 5.875% COM UST5805 1000 962000 SH SHARE 01 962000 U.S. TREASURY NOTES 6.125% COM UST6107 681 625000 SH SHARE 01 625000 U.S. TREASURY NOTES 6.250% COM UST6207 211 195000 SH SHARE 01 195000 U.S. TREASURY NOTES 6.500% COM UST6506 318 295000 SH SHARE 01 295000 USA TECHNOLOGIES INC COM USTT 21 172500 SH SHARE 01 172500 USEC INC COM USU 1063 102500 SH SHARE 01 102500 UNITED TEL CO FLA 7.250% COM UTC7204 101 100000 SH SHARE 01 100000 U.S. TREASURY NOTES 2.375% COM UTN2306 349 350000 SH SHARE 01 350000 U.S. TREASURY NOTES 3.250% COM UTN2308 452 450000 SH SHARE 01 450000 U.S. TREASURY NOTES 5.000% COM UTN5011 269 250000 SH SHARE 01 250000 U.S. TREASURY NOTES 5.750% COM UTN5705 249 240000 SH SHARE 01 240000 U.S. TREASURY NOTES 5.875% COM UTN5804 231 230000 SH SHARE 01 230000 U.S. TREASURY NOTES 6.000% COM UTN6009 151 135000 SH SHARE 01 135000 U.S. TREASURY NOTES 6.500% COM UTN6505 173 167000 SH SHARE 01 167000 U.S. TREASURY NOTES 6.750% COM UTN6705 82 80000 SH SHARE 01 80000 U.S. TREASURY NOTES 6.875% COM UTN6806 161 150000 SH SHARE 01 150000 UNITED TECHNOLOGIES CORP COM UTX 2826 30267 SH SHARE 01 30267 ROYAL CARRIBBEAN COM V7780T103 207 4750 SH SHARE 4750 V F CORP COM COM VFC 480 9710 SH SHARE 01 9710 VANGUARD FXD INC GNMA PORT COM VFIIX 125 11941 SH SHARE 01 11941 VANGUARD INDEX TR 500 #40 COM VFINX 337 3273 SH SHARE 01 3273 ORTHOVITA INC CDT-COM COM VITA 74 16505 SH SHARE 01 16505 VILLAGE SUPER MKT INC CL A COM VLGEA 232 7300 SH SHARE 01 7300 VANGUARD PRIME MMKT-INV COM VMMXX 32 31600 SH SHARE 01 31600 VERONA N J BRD ED 5.200% COM VNJ5210 53 50000 SH SHARE 01 50000 VODAFONE GROUP PLC-ADR COM VOD 292 12125 SH SHARE 01 12125 VANGUARD PA INSURED L/T T/E COM VPAIX 413 35414 SH SHARE 01 35414 VANGUARD PA TAX FREE FD#63 COM VPTXX 34 33633 SH SHARE 01 33633 VERMONT ST 3.250% COM VS33209 26 25000 SH SHARE 01 25000 VIRGINIA ST 4.250% COM VS44209 26 25000 SH SHARE 01 25000 VIRGINIA ST AUTH WTR 4.800% COM VSA4807 27 25000 SH SHARE 01 25000 VA ST HSG AUTH 4.700% COM VSH4704 25 25000 SH SHARE 01 25000 VA ST PUB SCH AUTH 5.000% COM VSP5005 103 100000 SH SHARE 01 100000 VENTURE TECH INC COM VTEH 0 47000 SH SHARE 01 47000 VANGUARD MUN BD INTER TRM #4 COM VWITSX 360 26444 SH SHARE 01 26444 VANGUARD WINDSOR FUND #22 COM VWNDX 174 10569 SH SHARE 01 10569 VANGUARD WINDSOR II #73 COM VWNFX 340 12066 SH SHARE 01 12066 VERIZON COMMUNICATIONS COM VZ 7734 196399 SH SHARE 01 196399 WALGREEN CO COM WAG 208 5800 SH SHARE 01 5800 WACHOVIA CORP COM WB 3880 82637 SH SHARE 01 82637 WEYERHAEUSER CO 7.500% COM WC77513 116 100000 SH SHARE 01 100000 WACHOVIA CORP NEW 5.625% COM WCN5608 151 140000 SH SHARE 01 140000 WEST CHESTER PA 4.650% COM WCP4606 52 50000 SH SHARE 01 50000 WESTMORELAND CNTY PA 4.700% COM WCP4713 53 50000 SH SHARE 01 50000 WEST CHESTER PA 4.750% COM WCP4714 168 165000 SH SHARE 01 165000 WEST CHESTER PA AREA 4.9% COM WCP4908 52 50000 SH SHARE 01 50000 WEST CHESTER PA 5.150% COM WCP5115 25 25000 SH SHARE 01 25000 WESTMORELAND CNTY Z-CPN COM WCP6110 16 20000 SH SHARE 01 20000 WESTMORELAND CNTY PA 5.250% COM WCS5209 26 25000 SH SHARE 01 25000 WELLS FARGO & CO NEW COM WFC 6197 103920 SH SHARE 01 103920 WELLS FARGO & CO 6.250% COM WFC6208 327 300000 SH SHARE 01 300000 WELLS FARGO FINL 7.000% COM WFF7005 183 175000 SH SHARE 01 175000 WELLNGTON FL PUB SVC 4.750% COM WFP4710 27 25000 SH SHARE 01 25000 WARNER LAMBERT 6.000% COM WL66008 22 20000 SH SHARE 01 20000 WASHINGTON MUT INC COM WM 974 24915 SH SHARE 01 24915 WAL MART STORES INC 6.875% COM WMS6809 380 335000 SH SHARE 01 335000 WALMART STORES INC COM WMT 5336 100305 SH SHARE 01 100305 WOODBURY NJ BRD EDUC 4.9% COM WNB4908 27 25000 SH SHARE 01 25000 WILLIAMSPORT PA 6.000% COM WPA6007 16 15000 SH SHARE 01 15000 WEINGARTEN REALTY INVESTORS COM WRI 1402 42468 SH SHARE 01 42468 WEST SHORE PA SD 5.000% COM WSP5010 106 100000 SH SHARE 01 100000 WMX TECHNOLOGIES INC 7.000% COM WTI7005 10 10000 SH SHARE 01 10000 WMX TECHNOLOGIES INC 7.000% COM WTI7006 370 345000 SH SHARE 01 345000 AQUA AMERICA INC COM WTR 797 36062 SH SHARE 01 36062 WESTERN SILVER CORP COM WTZ 95 10100 SH SHARE 01 10100 WEST VIRGINIA ST 5.200% COM WVS5207A 15 15000 SH SHARE 01 15000 WEST VIRGINIA ST 5.400% COM WVS5413 15 15000 SH SHARE 01 15000 WEST WINDSOR TWP N J 4.500% COM WWT4512 52 50000 SH SHARE 01 50000 WRIGLEY WM JR CO COM WWY 301 4750 SH SHARE 01 4750 WYETH COM WYE 2938 78546 SH SHARE 01 78546 XEROX CR CORP MTN 6.500% COM XCC6513A 89 90000 SH SHARE 01 90000 AXEDA SYS INC COM XEDA 6 13064 SH SHARE 01 13064 EXXON MOBIL CORP COM XOM 25083 518993 SH SHARE 01 518993 ZIMMER HLDGS INC COM ZMH 3425 43338 SH SHARE 01 43338