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Portfolio
Overview: (As of 4/30/2008)
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Top
Ten Issuers
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Total
Portfolio
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1.
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Interstate Power |
5.6%
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2.
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Merrill Lynch |
4.4%
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3.
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FBOP Corp |
4.0%
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4.
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Banco Santander |
4.0%
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5.
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Liberty Mutual Insurance |
3.9%
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6.
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National City |
3.7%
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7.
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Cobank |
3.0%
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8.
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SLM Corporation |
3.0%
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9.
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Midamerica Energy |
2.7%
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10.
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Entergy Louisiana |
2.3%
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Top
Ten: 36.6%
Other: 63.4%
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| Credit
Quality |
| Moody's
Ratings |
%
of Securities
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| Aaa |
0.0%
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| Aa |
4.3%
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A
|
22.5%
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| Baa |
44.6%
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| Ba |
20.2%
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| Not
Rated |
8.0%
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| Below
by Both** |
16.6%
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| **Below
Investment Grade by both Moody's and S&P |
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| Industry
Concentration |
| Industry |
%
of Securities
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| Banks |
35.5%
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| Utilities |
27.5%
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| Finance |
13.4%
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| Insurance |
13.9%
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| Other |
9.7%
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Most recent publicly disclosed
fiscal quarter end portfolio holdings are available upon request |
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