|
|
|
Portfolio
Overview: (As of 12/30/2011) |
|
 |
| Top
Twenty Five Issuer |
|
|
1. |
Liberty Mutual Group |
4.5% |
|
2. |
Banco Santander, S.A. |
4.1% |
|
3. |
Capital One Financial |
4.1% |
|
4. |
HSBC PLC |
4.1% |
|
5. |
Metlife |
4.0% |
|
6. |
Southern California Edison |
3.2% |
|
7. |
Wells Fargo |
2.8% |
|
8. |
Enbridge Energy Partners |
2.7% |
|
9. |
Enterprise Products Partners |
2.4% |
|
10. |
Fifth Third Bancorp |
2.4% |
|
11. |
Puget Energy |
2.3% |
|
12. |
Nextera Energy |
2.3% |
|
13. |
Principal Financial |
2.3% |
|
14. |
Interstate Power & Light |
2.2% |
|
15. |
Dominion Resources |
2.2% |
|
16. |
PNC Financial Services |
2.2% |
|
17. |
Goldman Sachs Group |
2.2% |
|
18. |
Bank of America |
2.1% |
|
19. |
Barclays Bank PLC |
2.1% |
|
20. |
First Horizon |
2.0% |
|
21. |
Everest Re Group |
2.0% |
|
22. |
Gulf Power |
2.0% |
|
23. |
Indianapolis Power & Light |
1.7% |
|
24. |
Kinder Morgan |
1.6% |
|
25. |
Sovereign Bancorp |
1.6% |
| |
|
Total
Portfolio |
| |
Top
Twenty Five: |
65.1% |
| |
Other: |
34.9% |
Exposure
to credit default swaps: None
|
|
|
|
|
| Credit
Quality |
| Moody's
Ratings |
%
of Securities
|
| Aaa |
0.0%
|
| Aa |
0.0%
|
|
A
|
6.0%
|
| Baa |
72.9%
|
| Ba |
19.2%
|
| Not
Rated |
0.7%
|
| |
|
| Below
by Both** |
17.3%
|
| |
| **Below
Investment Grade by both Moody's and S&P |
|
|
|
|
| Industry
Concentration |
| Industry |
%
of Securities
|
| Banks |
38.7%
|
| Finance |
1.0%
|
| Insurance |
23.6%
|
| Utilities |
26.9%
|
| Other |
9.7%
|
| |
|
|
| |
Most
recent publicly disclosed fiscal quarter end portfolio holdings are available
upon request |
|
|
|
