form11k0609.htm
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C.  20549


 

FORM 11-K



 


(Mark One)

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

For the fiscal year ended December 31, 2008
 
OR

[  ]
TRANSITION REPORT PURSUANT TO SECTION  15(d)
 
OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from                       to


 

 
AMERICAN ELECTRIC POWER SYSTEM
RETIREMENT SAVINGS PLAN
(Full title of the plan)



AMERICAN ELECTRIC POWER COMPANY, INC.
1 Riverside Plaza, Columbus, Ohio 43215
(Name of issuer of the securities held
pursuant to the plan and the address
of its principal executive office)

 
 
 

AMERICAN ELECTRIC POWER SYSTEM RETIREMENT SAVINGS PLAN


TABLE OF CONTENTS

 
 
SIGNATURES
 
REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
 
FINANCIAL STATEMENTS:
Statements of Net Assets Available for Benefits as of December 31, 2008 and 2007
 
Statements of Changes in Net Assets Available for Benefits for the Years Ended December 31, 2008 and 2007
 
Notes to Financial Statements
 
SUPPLEMENTAL SCHEDULES:
Schedule of Assets (Held at End of Year) as of December 31, 2008
Schedule of Assets (Acquired and Disposed of Within Year) for Plan Year Ended December 31, 2008
 
EXHIBITS:
Exhibit Index
 
Consent of Independent Registered Public Accounting Firm
 
 

 
 


 
 
 

AMERICAN ELECTRIC POWER SYSTEM RETIREMENT SAVINGS PLAN

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Benefits Finance Committee has duly caused this annual report to be signed by the undersigned thereunto duly authorized.






    By:         /s/ Stephan T. Haynes            
Stephan T. Haynes, Secretary






Date:  June 25, 2009



 
 
 

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Trustees and Participants of American Electric Power System Retirement Savings Plan:

We have audited the accompanying statements of net assets available for benefits of the American Electric Power System Retirement Savings Plan (the “Plan”) as of December 31, 2008 and 2007, and the related statements of changes in net assets available for benefits for the years then ended.  These financial statements are the responsibility of the Plan's management.  Our responsibility is to express an opinion on these financial statements based on our audits.

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

In our opinion, such financial statements present fairly, in all material respects, the net assets available for benefits of the Plan as of December 31, 2008 and 2007, and the changes in net assets available for benefits for the years then ended in conformity with accounting principles generally accepted in the United States of America.

Our audits were conducted for the purpose of forming an opinion on the basic financial statements taken as a whole.  The supplemental schedules of (1) assets held as of December 31, 2008, and (2) assets acquired and disposed of for the Plan year ended December 31, 2008, are presented for the purpose of additional analysis and are not a required part of the basic financial statements, but are supplementary information required by the Department of Labor's Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. These schedules are the responsibility of the Plan's management. Such schedules have been subjected to the auditing procedures applied in our audit of the basic 2008 financial statements and, in our opinion, are fairly stated in all material respects when considered in relation to the basic financial statements taken as a whole.


/s/  Deloitte & Touche LLP
 
Columbus, Ohio
June 25, 2009

 
 
 

AMERICAN ELECTRIC POWER SYSTEM RETIREMENT SAVINGS PLAN

STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS

DECEMBER 31, 2008 AND 2007


   
2008
    
2007
  
ASSETS
            
Investments:
            
Participant directed investments
   $ 2,379,889,312     $ 3,127,587,464  
Wrapper Contracts
     1,712,868          
Participant Loans
     60,521,812       58,519,891  
Total Investments
     2,442,123,992       3,186,107,355  
                 
NET ASSETS AVAILABLE FOR BENEFITS AT FAIR VALUE
   $ 2,442,123,992     $ 3,186,107,355  
                 
Adjustment from fair value to contract value for fully benefit responsive investment contracts
     106,018,835          
                 
NET ASSETS AVAILABLE FOR BENEFITS
   $ 2,548,142,827     $ 3,186,107,355  

See notes to financial statements.

 
 
 

AMERICAN ELECTRIC POWER SYSTEM RETIREMENT SAVINGS PLAN

STATEMENTS OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS FOR THE
YEARS ENDED DECEMBER 31, 2008 AND 2007


   
2008
    
2007
  
NET INVESTMENT INCOME (LOSS)
            
Net (Decline) Appreciation in Fair Value of Investments
   $ (737,313,772 )   $ 152,440,809  
Interest
     43,946,885       49,794,619  
Dividends
     18,372,332       23,187,005  
TOTAL
     (674,994,555 )     225,422,433  
                 
CONTRIBUTIONS
                
Participants
     168,414,794       159,162,020  
Employer
     68,725,459       64,382,410  
TOTAL
     237,140,253       223,544,430  
                 
 
DISTRIBUTIONS TO PARTICIPANTS
     (193,748,297 )     (206,175,376 )
                 
ADMINISTRATIVE AND MANAGEMENT FEES
                
Professional Fees
     (571,150 )     (772,380 )
Investment Advisory and Management Fees
     (5,342,141 )     (6,047,575 )
Other Fees
     (448,638 )     (427,355 )
TOTAL
     (6,361,929 )     (7,247,310 )
                 
(DECREASE) INCREASE IN NET ASSETS
     (637,964,528 )     235,544,177  
                 
NET ASSETS AVAILABLE FOR BENEFITS BEGINNING OF YEAR
     3,186,107,355       2,950,563,178  
                 
NET ASSETS AVAILABLE FOR BENEFITS END OF YEAR
   $ 2,548,142,827     $ 3,186,107,355  

See notes to financial statements.

 
 
 
 
AMERICAN ELECTRIC POWER SYSTEM RETIREMENT SAVINGS PLAN        

NOTES TO FINANCIAL STATEMENTS


1.         PLAN DESCRIPTION

The following description of the American Electric Power System Retirement Savings Plan (the Plan) is provided for general information purposes only.  Participants should refer to the Plan documents for more complete information.

The Plan is a defined contribution plan that became effective and commenced operations on January 1, 1978.  The Plan covers eligible regularly-scheduled full-time and part-time employees of the participating subsidiaries of American Electric Power Company, Inc. (“AEP” or the “Company”).  Eligible employees will be automatically enrolled in the plan with a 3% pretax deferral unless they elect to opt out of the automatic enrollment or revise their elections during a 30-day grace period.  The Plan is subject to the provisions of the Employee Retirement Income Security Act of 1974 (ERISA).  Generally, eligible employees participating in the Plan may make contributions (pre-tax, after-tax or, effective beginning July 1, 2006, designated Roth 401(k) contributions) in 1% increments up to 50% of their eligible pay (within IRS limits).  Participants who are age 50 and older are able to save additional pre-tax or Roth 401(k) amounts as catch up contributions.  The catch-up contribution limit was $5,000 for 2008 and 2007.  The Company contributes to the Plan, on behalf of each participant, an amount equal to 75% of the participant’s contributions up to 6% of the participant’s eligible compensation for each payroll period, subject to certain limitations.  All contributions are deposited to the American Electric Power System Retirement Savings Plan Trust after each pay period.  The Plan, in a manner consistent with the requirements under section 401 et seq., of the Internal Revenue Code, restricts the amount that certain participants who are deemed highly compensated may contribute to the Plan.  Participants are immediately vested in their pre-tax, after-tax, Roth 401(k) and the Company matching contributions, including earnings thereon.

American Electric Power Service Corporation (AEPSC) is the plan administrator (Plan Administrator) and plan sponsor (Plan Sponsor).  AEPSC is a wholly-owned subsidiary of AEP.

JP Morgan Chase Bank N.A. is the custodian and trustee and JP Morgan Retirement Plan Services LLC is the record keeper with respect to the Plan.  The investment options offered by the Plan are a series of separately managed accounts, interests in commingled and collective trusts and self-directed mutual fund brokerage accounts for which JP Morgan affiliates provide custody, trustee, recordkeeping and other services.

The AEP Stock Fund, a Plan investment option, is an Employee Stock Ownership Plan (“ESOP”).  As a result, participants can elect to have dividends generated from their AEP Stock Fund holdings paid out in cash, rather than automatically reinvested in the fund.  The dividend payouts are made periodically, but no less than annually, and are treated as ordinary income for tax purposes.  The 10 percent early withdrawal penalty for individuals under age 59-1/2 does not apply to these dividend payouts.

Participants may transfer the value of their cumulative contributions, in any whole percentage or dollar amount, among investments, and change their investment elections on a daily basis.  Participants may change their payroll contribution elections coinciding with the Company’s payroll periods. Excluding their pre-tax and Roth 401(k) contributions, participants may make an unlimited number of withdrawals of their interest in the Plan, including Company matching contributions, which are immediately vested.  Pre-tax and Roth 401(k) contributions are not eligible for withdrawal by participants until age 59-1/2, except under hardship (as defined by the Plan) or termination of employment.  Individual accounts are maintained for each Plan participant.  Each participant’s account is credited with an allocation of Company contributions, his or her employee contribution, and Plan earnings.  The benefit to which a participant is entitled is the benefit that can be provided from the participant’s account.

Participants may borrow from their savings plan accounts a minimum of $1,000 but no more than the lesser of $50,000 or 50% of their account balance.  Loan terms range from 12 months to 60 months (or up to 180 months for certain residential loans), or any monthly increment in-between.  Interest rates, fixed for the life of the loan, are calculated by adding 1% to the prime rate, as reported in the Wall Street Journal.  For loans taken before July 1, 2006, the interest rate is in effect as of the first business day of the calendar quarter in which the loan is taken.  For loans taken after July 1, 2006, the interest rate is in effect as of the first business day of the calendar month in which the loan is taken.  Active employees repay principal and interest payments through payroll deductions.

Retirees/surviving spouses may make monthly loan payments using a coupon book or through automatic withdrawal from their bank account.  Participant loans and the accrued interest are collateralized by the account balance, and upon default, the outstanding balance is subject to income taxes and possible tax penalty.

2.         ACCOUNTING POLICIES

As of January 1, 2008, the Plan adopted the provisions of Statement on Financial Accounting Standards (“SFAS”) No. 157 (“SFAS 157”), Fair Value Measurements, for its investments. SFAS 157 establishes a single authoritative definition of fair value, sets out a framework for measuring fair value, and expands fair value disclosures. Although the adoption of SFAS 157 did not materially impact the Plan’s financial statements, the Plan is now required to provide additional disclosures as part of its financial statements

The accompanying financial statements are prepared on an accrual basis of accounting, in conformity with accounting principles generally accepted in the United States of America.

Participants direct the investment of their contributions into various investment options offered by the Plan.  Investments are reported in the Statements of Net Assets Available for Benefits at fair value, except for its benefit responsive investment contracts, which are stated at contract value.

Quoted market prices are used to value investments (including, but not limited to, the shares of AEP common stock held in the AEP Stock Fund), except investments in registered investment companies, collective trust funds or commingled funds, which are stated at estimated fair values based on the value of the underlying securities and assets as provided by the Trustee of the investment.  All participant loan balances are recorded at amortized cost which approximates fair value.

The Managed Income Fund includes investment contracts valued at fair value, which is equal to cost (contributions), plus interest, less withdrawals.  As described in Financial Accounting Standards Board Staff Position, AAG INV-1, Reporting of Fully Benefit-Responsive Contracts Held by Certain Investment Companies Subject to the AICPA Investment Company Guide and Defined-Contribution Health and Welfare and Pension Plans (FSP AAG INV-1), the Managed Income Fund is included at fair value in participant-directed investments in the statements of net assets available for benefits, and an additional line item is presented representing the adjustment from fair value to contract value.  The statement of changes in net assets available for benefits is presented on a contract value basis.

Purchases and sales of securities have been recorded on a trade-date basis.  Interest income is recorded on an accrual basis.  Dividends are recorded on the ex-dividend date.  These amounts are reinvested by the Trustee in the same funds that generated such income with the exception of the AEP Stock Fund, which pays out or reinvests dividends at the direction of each participant.

Administrative and Management Fees paid to JPMorgan during 2008 and 2007 totaled $3,008,464 and $2,860,390 respectively.  The Plan directly pays for administrative, recordkeeping and management fees.

Distributions are recorded when paid.  There were no material amounts of distributions due to participants who requested distributions from the Plan as of December 31, 2008 and 2007.

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of net assets available for benefits and changes therein and disclosure of contingent assets.  Actual results could differ from those estimates.
 
The Plan utilizes various investment instruments, including common stock, bonds, commingled funds and investment contracts.  Investment securities, in general, are exposed to various risks, such as interest rate, credit, and overall market volatility.  Due to the level of risk associated with certain investment securities, it is reasonably possible that changes in the values of investment securities will occur in the near term and that such changes could materially affect the amounts reported in the financial statements.
 
3.         INVESTMENT CONTRACTS

At December 31, 2008, the Managed Income Fund provides a self managed stable value investment option to participants that includes synthetic guaranteed investment contracts (“GIC”) which simulates the performance of a guaranteed investment contract through an issuer’s guarantee of a specific interest rate (the wrapper contract) and a portfolio of financial instruments that are owned by the Plan.  The Plan entered into four synthetic GIC contracts in July 2006.  The synthetic GIC contracts include underlying assets, which are held in a trust owned by the Plan and utilizes benefit-responsive wrapper contracts issued by four banking institutions. The contracts provide that participants execute plan transactions at contract value. Contract value represents contributions made to the fund, plus earnings, less participant withdrawals. The interest rates are reset quarterly based on market rates of other similar investments, the current yield of the underlying investments and the spread between the market value and contract value, but the rate cannot be less than 0%. Certain events such as plan termination or a plan merger initiated by the Plan Sponsor, may limit the ability of the Plan to transact at contract value or may allow for the termination of the wrapper contract at less than contract value. The Plan Sponsor does not believe that any events that may limit the ability of the plan to transact at contract value are probable.  During the year ended December 31, 2008, the credited rate and the average yield based on annualized earnings and interest credited to participants were 4.69% and 4.75%, respectively.  During the year ended December 31, 2007 the credited rate and average yield based on annualized earnings and interest credited to participants were 5.34% and 5.06% respectively.

4.        
INVESTMENTS

The Plan utilizes various investment instruments, including common stock, bonds, commingled funds, managed income funds, and investment contracts.  The financial statements include investments in commingled funds valued at $889 million (35% of net assets) and $1,180 million (37% of net assets) as of December 31, 2008 and 2007, respectively.  Of these balances, $31 million and $54 million were invested as of December 31, 2008 and 2007, respectively, in the JPMorgan Strategic Property Fund a real estate investment fund.  The remaining portion of the commingled funds’ underlying investments were funds invested in equity securities and bonds.  Additionally, the financial statements include investments in a Managed Income Fund valued at $888 million (35% of net assets) and $828 million (26% of net assets) as of December 31, 2008 and 2007, respectively.  This fund invests in bond funds and guaranteed investment contracts whose fair values have been estimated by management in the absence of readily determinable fair values.  Management’s estimates regarding the fair value of these commingled and managed income funds are based on information provided by the fund managers.

5.         INVESTMENTS EXCEEDING 5% OF PLAN NET ASSETS

Investments exceeding five percent of net assets as of December 31, 2008 and 2007 were:

   
2008
    
2007
  
American Electric Power Company, Inc. Common Stock
   $ 267,992,159     $ 343,008,731  
                 
EB Daily Liquidity Aggregate Bond Index Fund
   $ 267,155,971     $ 229,257,540  
                 
EB Daily Liquidity Stock Index Fund
   $ 277,166,824     $ 418,665,678  
                 
EB Daily Liquidity International Stock Index Fund
   $ 164,647,256     $ 226,251,737  
                 
Intermediate Term Bond Fund
   $ 728,654,801     $ 794,926,246  

6.         NET (DECLINE) APPRECIATION OF INVESTMENTS

During 2008 and 2007, the Plan's investments (including investments purchased and sold as well as held during the year) (declined) appreciated in value as follows:

   
Year Ended
  
   
December 31,
  
             
   
2008
    
2007
  
                 
American Electric Power Company, Inc. - Common Stock
   $ (99,973,910 )   $ 36,819,913  
Participant Loans
     104,604       221,394  
Common / Collective Trusts
     (361,388,798 )     81,332,844  
Corporate Stock
     (255,804,906 )     34,238,290  
Fixed Income Securities
     (7,479,660 )     (508,882 )
Registered Investment Companies
     (12,771,102 )     337,250  
Total Net (Decline) Appreciation in Investments
   $ (737,313,772 )   $ 152,440,809  
 
7.         FAIR VALUE MEASUREMENTS

As of January 1, 2008, the Plan adopted the provisions of SFAS 157 for its investments.  The statement defines fair value, establishes a fair value measurement framework and expands fair value disclosures.  In accordance with SFAS 157, assets and liabilities are classified based on the inputs utilized in the fair value measurement.  SFAS 157 provides definitions for two types of inputs: observable and unobservable.  Observable inputs are valuation inputs that reflect the assumptions market participants would use in pricing the asset or liability developed based on market data obtained from sources independent of the reporting entity.  Unobservable inputs are valuation inputs that reflect the reporting entity’s own assumptions about the assumptions market participants would use in pricing the asset or liability developed based on the best information in the circumstances.

As defined in SFAS 157, fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (exit price).  SFAS 157 establishes a fair value hierarchy that prioritizes the inputs used to measure fair value.  The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets and liabilities (level 1 measurement) and the lowest priority to unobservable inputs (level 3 measurement).

Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date.

Level 2 inputs are inputs other than quoted prices included within level 1 that are observable for the asset or liability, either directly or indirectly.

Level 3 inputs are unobservable inputs for the asset or liability.  Unobservable inputs shall be used to measure fair value to the extent that the observable inputs are not available, thereby allowing for situations in which there is little, if any, market activity for the asset or liability at the measurement date.  Level 3 inputs primarily consist of unobservable market data or are valued based on models and/or assumptions.

The following table sets forth by level within the fair value hierarchy the Plan’s assets that were accounted for at fair value on a recurring basis as of December 31, 2008.  As required by SFAS 157, financial assets are classified in their entirety based on the lowest level of input that is significant to the fair value measurement.  Management’s assessment of the significance of a particular input to the fair value measurement requires judgment, and may affect the valuation of fair value assets and their placement within the fair value hierarchy levels.

   
Level 1
      
Level 2
      
Level 3
      
Total
  
                               
Net Assets Available for Benefits:
                              
Corporate Stock
   $ 345,027,766     $       $       $ 345,027,766  
Corporate Debt
             28,808,270               28,808,270  
Mortgage Backed Securities
             9,848,119               9,848,119  
Government Bonds
             11,441,975               11,441,975  
Common Collective Trust - Equities
             581,443,853               581,443,853  
Common Collective Trust - Debt
             267,155,971               267,155,971  
Common Collective Trust – Strategic Property
                     31,212,837       31,212,837  
Common Collective Trust – Emerging Markets
                     8,764,187       8,764,187  
Cash Equivalents
             19,167,024               19,167,024  
Registered Investment Companies
     33,465,370                       33,465,370  
Stable Value
             779,958,193               779,958,193  
Wrapper Contracts
                     1,712,868       1,712,868  
Company Stock Fund
     270,663,162                       270,663,162  
Participant Loans
                     60,521,812       60,521,812  
Unsettled Trades
     3,226,069       (10,293,484 )             (7,067,415 )
Total Assets
   $ 652,382,367     $ 1,687,529,921     $ 102,211,704     $ 2,442,123,992  

 
The following table sets forth a reconciliation of changes in the fair value of participant loans classified as level 3 in the fair value hierarchy:

   
Strategic Property Fund
    
Emerging Markets Fund
    
Wrapper Contracts
    
Participant Loans
    
Total
  
                               
Balance, beginning of year
   $ 53,073,359     $ 15,647,202     $ 0     $ 58,519,891     $ 127,240,452  
                                         
Realized gains
     2,233,758       820,004       0       0       3,053,762  
                                         
Unrealized gains (losses)
     (4,040,239 )      (6,571,629 )      1,712,868       0       (8,899,000 ) 
Purchases, sales, issuances, and settlements (net)
     (20,054,041 )     (1,131,390 )     0       2,001,921       (19,183,510 )
                                         
Balance, end of year
   $ 31,212,837     $ 8,764,187     $ 1,712,868     $ 60,521,812     $ 102,211,704  

8.         FEDERAL INCOME TAX

The Internal Revenue Service (IRS) has determined that the Plan meets the requirements of Section 401(a) of the Internal Revenue Code (the Code) and recognizes the exempt status of the Plan’s Trust pursuant to Section 501(a) of the Code.  By letter dated October 14, 2008, the IRS made a favorable determination on the Plan as amended by the various amendments described in the letter.

The Plan has been amended subsequent to the issuance of the IRS determination letter.  The Company and Plan management believe that the Plan is currently designed and operated in compliance with the applicable requirements of the Code and that the Plan’s Trust continues to be tax-exempt.  Therefore, no provision for income taxes has been included in the Plan’s financial statements.

9.         PLAN TERMINATION

Although it has not expressed any intent to do so, the Company has the right to discontinue its contributions to the plan at any time and to terminate the Plan subject to the provisions of ERISA.  In the event of Plan termination, participants remain 100 percent vested in their accounts.

10.       EXEMPT PARTY-IN-INTEREST TRANSACTIONS

Certain transactions involving the Plan and its assets involved parties in interest with respect to the Plan, but those transactions were not prohibited transactions under ERISA because of the applicability of one or more exemptions.  The exempt party-in-interest transactions involving the Plan included the following:  JPMorgan Chase Bank, N.A., has been acting as trustee and custodian under the Plan, while its affiliates have been acting as (a) investment manager for a number of the Plan’s investment options, (b) the Plan’s record keeper and (c) investment advisor or investment manager for a number of plan participants with respect to the amounts held in their Plan accounts.

At December 31, 2008 and 2007, the Plan held 8,052,649 and 7,367,026 shares, respectively, of common stock of American Electric Power Company, Inc., the Plan Sponsor, with a cost basis of $290,548,737 and $266,439,970, respectively.  During the years ended December 31, 2008 and 2007, the Plan recorded dividend income of $12,960,231 and $12,657,548, respectively, related to this investment.

11.       LEGAL ISSUES

In Re AEP ERISA Litigation - In 2002 and 2003, three putative class action lawsuits were filed in Federal District Court, Columbus, Ohio against AEP, certain executives and AEP’s ERISA Plan Administrator alleging violations of ERISA in the selection of AEP Common stock as an investment alternative and in the allocation of assets to AEP Common stock. In these actions, the plaintiffs sought recovery of an unstated amount of compensatory damages, attorney fees and costs. Two of the three actions were dropped voluntarily by the plaintiffs in those cases. In 2006, the court entered judgment in the remaining case, denying the plaintiff’s motion for class certification and dismissing all claims without prejudice. In 2007, the appeals court reversed the trial court’s decision and held that the plaintiff did have standing to pursue his claim. The appeals court remanded the case to the trial court to consider the issue of whether the plaintiff is an adequate representative for the class of plan participants. In September 2008, the trial court denied the plaintiff’s motion for class certification and ordered briefing on whether the plaintiff may maintain an ERISA claim on behalf of the Plan in the absence of class certification.  In March 2009, the court granted a motion to intervene on behalf of an individual seeking to intervene as a new plaintiff.  The outcome of the litigation cannot be determined at this time.

 
 
 

AMERICAN ELECTRIC POWER SYSTEM RETIREMENT SAVINGS PLAN 

SUPPLEMENTAL SCHEDULE OF ASSETS HELD AS OF DECEMBER 31, 2008


Identity of Issuer, Borrower, Lessor or Similar Party
  
Number of
SHARES/UNITS
    
FAIR
VALUE
  
INVESTMENT CONTRACTS:
            
Stable Value Wrapper Contract
  Bank of America
  variable annual yield (2.75% at December 31, 2008) with an indeterminate maturity date
     -     $ 781,528  
Stable Value Wrapper Contract
  ING
  variable annual yield (2.75% at December 31, 2008) with an indeterminate maturity date
     -       450,631  
Stable Value Wrapper Contract
  IXIS
  variable annual yield (2.75% at December 31, 2008) with an indeterminate maturity date
     -       0  
Stable Value Wrapper Contract
  State Street Bank
  variable annual yield (2.75% at December 31, 2008) with an indeterminate maturity date
     -       480,709  
Subtotal Wrapper Contracts
           $ 1,712,868  
                 
Intermediate Bond Fund-
  JPMorgan Chase Bank
     -     $ 728,654,801  
U.S. Treasury Notes
  (4.875%, due at May 31, 2009)
     -       738,820  
U.S. Treasury Notes
  (4.875%, due at June 30, 2009)
     -       567,639  
U.S. Treasury Notes
  (2.000%, due at February 28, 2010)
     -       96,711  
U.S. Treasury Notes
  (2.125%, due at April 30, 2010)
     -       112,630  
U.S. Treasury Notes
  (2.625%, due at May 31, 2010)
     -       257,549  
U.S. Treasury Notes
  (2.375%, due at August 31, 2010)
     -       592,452  
U.S. Treasury Notes
  (2.000%, due at September 30, 2010)
     -       1,389,086  
JPMorgan Chase Bank
  Liquidity Fund
     -       47,548,505  
     Subtotal Stable Value
             779,958,193  
                 
TOTAL – INVESTMENT CONTRACTS
           $ 781,671,061  
ADJUSTMENT FROM FAIR VALUE TO CONTRACT VALUE
             106,018,835  
TOTAL – INVESTMENT CONTRACTS AT CONTRACT VALUE
           $ 887,689,896  


 
 
 
 

AMERICAN ELECTRIC POWER SYSTEM RETIREMENT SAVINGS PLAN
         
SUPPLEMENTAL SCHEDULE OF ASSETS HELD AS OF DECEMBER 31, 2008 (continued)
 
AEP STOCK FUND:
Number of Shares/Units
Fair Value
American Electric Power Company, Inc. Common Stock $6.50 par value
8,052,649 
Units
$
267,992,159 
JP Morgan Liquid Assets Money Market Fund
2,671,003 
Units
  
2,671,003 
     
$
270,663,162 
         
PARTICIPANT LOANS (interest rate ranging from 5.00% through 9.25% maturing through December 2021)
$
60,521,812 
         
Identity of Issuer, Borrower, Lessor or Similar Party
Number of Shares/Units
Fair Value
Cash Equivalents
        
(VAN 2) JPMORGAN DOMESTIC LIQUIDITY
16,786,260 
Units
$
16,786,260 
CASH – COMMINGLED FUNDS
2,213,300 
Units
2,213,300 
CASH
            167,464
Units
  
167,464 
Total Cash Equivalents
    
$
19,167,024 
         
Common/Collective Trusts
        
ALLIANCE BERNSTEIN Int’l Style Blend
7,273,237 
Units
$
53,676,491 
EB Daily Liquidity Aggregate Bond Index Fund
1,562,727 
Units
267,155,971 
EB Daily Liquidity Stock Index Fund
1,319,088 
Units
277,166,824 
Income - EB Daily Liquidity International Stock Index Fund
1,440,761 
Units
164,647,256 
Income - EB Daily Liquidity Small Cap Stock Index Fund
704,482 
Units
63,967,001 
JPMCB Emerging Markets - Equity Focused
328,247 
Units
8,764,187 
JPMCB Liquidity Fund
11,023,966 
Units
11,023,966 
JPMCB Strategic Property Fund
18,125 
Units
31,212,837 
JPMCB US Real Estate Securities Fund
533,466 
Units
  
10,962,315 
Total Common/Collective Trusts
    
$
888,576,848 
         
Corporate Stocks
        
ABM INDUSTRIES INC COM STK USD0.01
5,925 
Units
$
112,871 
AMR CORP COM STK USD1
72,200 
Units
770,374 
AARON RENTS INC COM VTG USD0.5
7,300 
Units
194,450 
ABBOTT LABORATORIES COM STK NPV
76,200 
Units
4,066,794 
ABERCROMBIE & FITCH CO CLASS'A'COM STK USD0.01
7,105 
Units
163,912 
ACXIOM CORP COM STK USD0.10
18,005 
Units
146,021 
AEROPOSTALE INC COM STK USD0.01
   21,700 
Units
349,370 
AFFILIATED COMPUTER SERVICES INC CLASS'A'COM STK
   14,300 
Units
657,085 
AFFILIATED MANAGERS GROUP INC COM STK USD0.01
  10,295 
Units
431,566 
AIR METHODS CORP COM STK USD0.06
    8,100 
Units
129,519 
AIR PRODUCTS & CHEMICALS INC COM STK USD1
  6,900 
Units
349,899 
ALEXANDRIA REAL ESTATE EQUITIES INC COM STK
1,100 
Units
67,254 
ALLIANCE DATA SYSTEM COM STK USD0.01
21,900 
Units
1,019,007 
ALLIANCE HEALTHCARE SERVICES INC COM STK USD0.01
10,005 
Units
79,740 
ALLIANZ SE ADR EACH REP 1/10 ORD SH
        75,700 
Units
819,831 
ALLSTATE CORP COM STK USD0.01
        44,300 
Units
1,467,299 
ALTERA CORP COM STK USD0.001
        38,400 
Units
641,664 
AMAZON COM INC COM STK USD0.01
        60,200 
Units
3,087,056 
AMEREN CORP COM STK USD0.01
        16,400 
Units
545,464 
AMGEN INC COM STK USD0.0001
        25,700 
Units
1,484,175 
AMPHENOL CORP CLASS'A'COM STK USD0.001
        45,100 
Units
1,082,233 
ANNALY CAPITAL MANAGEMENT INC CLASS'A'COM STK
        13,790 
Units
225,742 
ANNTAYLOR STORES CORP COM STK USD0.0068
         6,300 
Units
36,351 
ANWORTH MORTGAGE ASSET CORP COM STK USD0.01
        47,440 
Units
317,374 
APOGEE ENTERPRISES INC COM STK USD0.33 1/3
         4,300 
Units
44,548 
APPLE INC COM STK NPV
        29,100 
Units
2,483,685 
APTARGROUP INC COM STK USD0.01
        19,900 
Units
701,276 
ARROW ELECTRONICS INC COM STK USD1
        37,275 
Units
702,261 
ASBURY AUTOMOTIVE GROUP INC COM STK USD0.01
        21,710 
Units
99,215 
ASCENT MEDIA CORPORATION SER'A'USD0.01
         2,905 
Units
63,445 
ASHLAND INC COM STK USD1
         7,095 
Units
74,568 
ASTRAZENECA ADR EACH REP 1 ORD USD0.25(MGT)
        37,100 
Units
1,522,213 
ATMEL CORP COM STK USD0.001
      163,900 
Units
513,007 
ATWOOD OCEANICS INC COM STK USD1
        60,600 
Units
925,968 
AUTODESK INC COM STK NPV
        12,500 
Units
245,625 
AUTOLIV INC COM STK USD1
        28,300 
Units
607,318 
AUTOMATIC DATA PROCESSING INC COM STK USD0.10
        16,700 
Units
662,489 
AUTOZONE INC COM STK USD0.01
         3,500 
Units
488,145 
AVNET INC COM STK USD1
        44,720 
Units
814,351 
AVON PRODUCTS INC COM STK USD0.25
        16,200 
Units
389,286 
BJ SERVICES COM STK USD0.10
        62,000 
Units
726,640 
BP AMOCO P.L.C ADR-EACH CNV INTO 6 ORD USD0.25
        24,600 
Units
1,149,804 
BMC SOFTWARE INC COM STK USD0.01
        28,700 
Units
772,317 
BALL CORP COM STK NPV
         8,500 
Units
353,515 
BANK OF HAWAII CORP COM STK USD2
         10,400 
Units
469,768 
BAXTER INTERNATIONAL INC COM STK USD1
         67,700 
Units
3,645,645 
BECKMAN COULTER INC COM STK USD0.10
         21,846 
Units
959,913 
BEL FUSE INC CLASS'B'SHS USD0.1
          4,000 
Units
84,800 
BELDEN INC COM STK USD0.01
         15,470 
Units
323,787 
BELO CORP CLASS'A'COM STK USD1.67
         21,100 
Units
32,916 
BERKSHIRE HILLS BANCORP INC COM STK USD0.01
          1,500 
Units
46,290 
BIO RAD LABORATORIES INC CLASS'A'COM STK USD0.0001
          1,100 
Units
82,841 
BLACK BOX CORP COM STK USD0.001
          4,700 
Units
123,046 
BLOCK(H & R) INC COM STK NPV
         32,985 
Units
754,367 
BORG-WARNER INC COM STK USD0.01
         47,295 
Units
1,029,612 
BOSTON PRIVATE FINANCIAL HLDGS INC COM STK USD1
         24,400 
Units
166,896 
BRADY CORP 'A'NON.V USD0.01
          5,410 
Units
129,570 
BRISTOW GROUP INC COM STK USD0.01
         13,805 
Units
369,836 
BROCADE COMM USD0.001
         44,465 
Units
124,502 
BROOKS AUTOMATION INC
         59,400 
Units
345,114 
BROWN & BROWN INC COM STK USD0.10
          3,700 
Units
77,330 
BROWN SHOE CO INC COM STK USD3.75
         19,345 
Units
165,206 
BUCKLE COM STK USD0.05
         38,950 
Units
849,889 
BUCYRUS INTERNATIONAL INC COM STK USD0.01
         25,400 
Units
470,408 
CAE INC COM NPV
       112,700 
Units
748,328 
CEC ENTERTAINMENT COM STK USD0.10
          6,000 
Units
145,500 
CIGNA CORP COM STK USD0.25
         33,237 
Units
560,043 
CVS CAREMARK CORP COM STK USD0.01
         89,600 
Units
2,575,104 
CABOT CORP COM STK USD1
          2,400 
Units
36,720 
CACI INTL INC CLASS A COM
          3,900 
Units
175,851 
CAMBREX CORP COM STK USD0.10
          9,700 
Units
44,814 
CARNIVAL CORP COM STK USD0.01(PAIRED STOCK)
         18,900 
Units
459,648 
CELGENE CORP COM STK USD0.01
         47,600 
Units
2,631,328 
CEPHALON INC COM STK USD0.01
          9,900 
Units
762,696 
CHARLES RIVER LABORATORIES COM STK USD0.01
         19,420 
Units
508,804 
CHARMING SHOPPES INC COM STK USD0.10
         39,975 
Units
97,539 
CHECKPOINT SYSTEMS COM STK USD0.10
          5,100 
Units
50,184 
CHEVRON CORP COM STK USD0.75
         15,300 
Units
1,131,741 
CHICAGO BRIDGE & IRON CO N.V. EUR0.01 (REG)
         20,800 
Units
209,040 
CHICO'S FAS INC COM STK USD0.01
         51,000 
Units
213,180 
CHUBB CORP COM STK USD1
         16,400 
Units
841,284 
CIMAREX ENERGY CO COM STK USD0.01
             700 
Units
18,746 
CINCINNATI BELL NC USD0.01
       237,100 
Units
457,603 
CITIZENS REPUBLIC BANCORP INC COM STK NPV
         21,669 
Units
64,574 
CITY HLDG CO COM STK USD2.50
          1,300 
Units
45,214 
CLARCOR INC COM STK USD1
          4,300 
Units
142,674 
COGNEX CORP COM STK USD0.002
         40,500 
Units
599,400 
COGNIZANT TECHNOLOGY SOLUTIONS CORP COM STK
         40,700 
Units
735,042 
COLGATE-PALMOLIVE CO COM STK USD1
         53,400 
Units
3,660,036 
COMERICA INC COM STK USD5
         26,000 
Units
524,680 
COMM TR BANCORPCOM USD5
          1,700 
Units
62,985 
COMPUTER SCIENCES CORP COM STK USD1
         19,900 
Units
699,286 
COMSTOCK RESOURCES INC COM STK USD0.50
          1,700 
Units
80,325 
COMTECH TELECOMMUNICATIONS COM STK USD0.10
          9,600 
Units
439,872 
COOPER TIRE & RUBBER CO COM STK USD1
          9,600 
Units
59,136 
CORN PRODUCTS INTERNATIONAL INC COM STK USD0.01
          2,500 
Units
72,125 
COVANCE INC COM STK USD0.01
          3,900 
Units
179,517 
COVENTRY HEALTHCARE INC COM STK USD0.01
         61,980 
Units
922,262 
CREDIT SUISSE GROUP ADR-EACH REPR 1 ORD(DT
         29,600 
Units
836,496 
CROWN MEDIA HOLDINGS CLASS'A'COM STK USD0.01
         41,400 
Units
117,990 
CUBIST PHARMACEUTI COM USD0.001
         13,900 
Units
335,824 
CUMMINS INC COM STK USD2.50
         57,800 
Units
1,544,994 
CYTEC INDUSTRIES INC COM STK USD0.01
          5,185 
Units
110,026 
DTE ENERGY CO COM STK NPV
         14,700 
Units
532,882 
DARDEN RESTAURANTS INC COM STK NPV
         20,749 
Units
584,707 
DELPHI FINANCIAL GROUP INC CLASS'A'COM STK USD0.01
          9,000 
Units
165,960 
DIAMONDROCK HOSPIT COM USD0.01
         13,900 
Units
70,473 
DIEBOLD INC COM STK USD1.25
         18,100 
Units
508,429 
WALT DISNEY(HLDG)CO DISNEY COM STK USD0.01
       103,800 
Units
2,390,537 
DOLLAR TREE INC COM STK USD0.01
         11,100 
Units
463,980 
DOMTAR CORPORATION COM STK USD0.01
         17,465 
Units
29,167 
DONNELLEY(R.R.)& SONS CO COM STK USD1.25
         50,100 
Units
680,358 
DOVER CORP COM STK USD1
          6,100 
Units
200,812 
DRIL QUIP INC COM STK USD0.01
          7,285 
Units
149,415 
DU PONT(E.I.)DE NEMOURS & CO COM STK USD0.30
         13,500 
Units
341,550 
DUKE REALTY CORP COM STK USD0.01
         76,554 
Units
839,032 
EARTHLINK INC COM STK USD0.01
         26,520 
Units
179,275 
EASTMAN CHEMICAL CO COM STK USD0.01
         10,900 
Units
350,435 
EATON CORP COM USD0.50
         22,341 
Units
1,110,571 
EDISON INTERNATIONAL COM STK NPV
         16,700 
Units
541,581 
EL PASO ELECTRIC CO COM STK NPV
         14,800 
Units
267,732 
ELECTRONICS FOR IMAGING INC COM STK USD0.01
         11,935 
Units
114,099 
EMULEX CORP COM STK USD0.10
         43,330 
Units
302,443 
EQUIFAX INC COM STK USD1.25
         33,380 
Units
885,238 
FLIR SYSTEMS INC COM STK USD0.01
         35,054 
Units
1,075,457 
FAIRCHILD SEMICONDUCTOR INTL INC
         19,900 
Units
97,311 
FAMILY DOLLAR STORES INC COM STK USD0.10
          4,900 
Units
128,356 
FEDERATED INVESTORS INC COM STK CLASS'B'USD0.01
          6,820 
Units
115,667 
FERRO CORP COM STK USD1
          9,200 
Units
64,860 
FIRST AMERICAN CORP COM STK USD1
         15,875 
Units
462,121 
FIRST MIDWEST BANCORP COM STK USD0.01
          3,100 
Units
62,605 
FISERV INC COM STK USD0.01
         18,100 
Units
658,297 
FLUSHING FINANCIAL CORP COM STK USD0.01
         41,800 
Units
499,928 
FOOT LOCKER INC COM STK USD0.01
         29,540 
Units
216,824 
FORRESTER RESEARCH INC COM STK USD0.01
          3,200 
Units
90,272 
FRANKLIN RESOURCES INC COM STK USD0.10
         13,100 
Units
838,269 
FULLER(H.B.)CO COM STK USD1
         12,400 
Units
199,764 
G & K SERVICES INC CLASS'A'COM STK USD0.50
          7,615 
Units
153,975 
GAP INC COM STK USD0.05
         33,900 
Units
453,921 
GARDNER DENVER INC COM STK USD0.01
          6,085 
Units
142,024 
GENCORP INC COM STK USD0.10
         65,400 
Units
240,672 
GENENTECH INC COM STK USD0.02
         57,400 
Units
4,759,034 
GENERAL CABLE CORP COM STK USD0.01
         30,300 
Units
536,007 
GENERAL DYNAMICS CORP COM STK USD1
         11,400 
Units
656,526 
GENERAL MILLS INC COM STK USD0.1
         25,900 
Units
1,573,425 
GENZYME CORP COM STK USD0.01
         11,500 
Units
763,255 
GILEAD SCIENCES INC COM STK USD0.001
       176,400 
Units
9,021,096 
GOODRICH CORP COM STK USD5
         31,700 
Units
1,181,459 
GRACO INC COM STK USD1
         36,000 
Units
854,280 
GRANITE CONSTRUCTION COM STK USD0.01
          6,475 
Units
285,289 
GREIF INC COM STK CLASS'A' NPV
          2,400 
Units
81,144 
GRIFFON CORP COM STK USD0.25
         18,221 
Units
170,002 
GROUP 1 AUTOMOTIVE INC COM STK NPV
          5,275 
Units
56,812 
GUESS INC COM STK USD0.01
         33,100 
Units
511,355 
GYMBOREE CORP COM STK USD0.001
         41,435 
Units
1,081,039 
HCC INSURANCE HLDG COM STK USD1
         21,400 
Units
575,125 
HANOVER INSURANCE GROUP INC COM STK USD0.01
         10,395 
Units
446,673 
HARMONIC INC COM STK USD0.001
       157,400 
Units
883,014 
HARRIS CORP COM STK USD1
         11,405 
Units
433,960 
HARSCO CORP COM STK USD1.25
         27,700 
Units
766,736 
HARTE-HANKS INC COM STK USD1
         13,500 
Units
84,240 
HARTFORD FINANCIAL SERVICES GRP INC COM STK
         13,600 
Units
246,352 
HASBRO INC COM STK USD0.50
         15,500 
Units
452,135 
HEIDRICK & STRUGGLES COM STK USD0.01
         25,930 
Units
558,532 
HELMERICH & PAYNE INC COM STK USD0.10
         44,400 
Units
1,010,100 
HERCULES OFFSHORE INC COM STK NPV
       115,700 
Units
549,575 
HEWLETT-PACKARD CO COM STK USD0.01
       122,700 
Units
4,462,719 
HEXCEL CORP COM STK USD0.01
         57,000 
Units
421,230 
HORACE MANN EDUCATORS CORP COM STK USD0.001
          7,415 
Units
68,144 
HORNBECK OFFSHORE SERVICES INC COM STK USD0.01
          7,021 
Units
114,723 
HOSPIRA INC COM STK USD0.01
         10,500 
Units
281,610 
HUB GROUP INC CLASS'A'COM SHS USD0.01
         31,500 
Units
835,695 
HUMANA INC COM STK USD0.166
         63,900 
Units
2,382,192 
HUNTINGTON BANCSHARES INC COM STK NPV
       119,400 
Units
929,709 
IMS HEALTH INC COM STK USD0.01
         33,900 
Units
513,924 
IBERIABANK CORP COM STK USD1
          3,000 
Units
145,020 
IDACORP INC COM STK NPV
          8,200 
Units
241,490 
INDEPENDENT BANK CORP(MASS) COM STK USD0.01
          2,500 
Units
65,850 
INFOSYS TECHNOLOGIES ADR EACH REPR 1ORD INR5
         46,700 
Units
1,147,419 
ING GROEP N.V. ADR-EACH REPR 1 ORD(SPONS)
         74,800 
Units
830,280 
INGRAM MICRO INC CLASS'A'COM STK USD0.01
         22,050 
Units
295,250 
INTEGRATED DEVICE TECHNOLOGY INC COM STK USD0.001
         62,100 
Units
348,381 
INTERMEC INC COM STK USD0.01
         48,700 
Units
646,736 
INTERNATIONAL BUS MACH CORP COM STK USD0.20
          8,000 
Units
673,280 
INTERNATIONAL FLAVORS & FRAGRANCES COM STK
         11,600 
Units
347,202 
INTERNATIONAL SPEEDWAY CORP CLASS'A'COM STK
         11,910 
Units
342,174 
INTUIT INC COM STK USD0.01
         28,100 
Units
668,499 
INVACARE CORP COM STK NPV
          5,415 
Units
84,108 
ION GEOPHYSICAL CORPORATION COM STK USD0.01
         84,900 
Units
291,207 
ISIS PHARMACEUTICAL COM STK USD0.001
         62,000 
Units
879,160 
JACK IN THE BOX INC COM STK USD0.01
          8,900 
Units
196,601 
JACKSON HEWITT TAX SERVICE INC COM STK USD0.01
         17,810 
Units
282,645 
JARDEN CORP COM STK NPV
          5,155 
Units
59,283 
JOHNSON & JOHNSON COM STK USD1
         25,400 
Units
1,519,682 
JOHNSON CONTROLS INC COM STK USD0.01388
         31,200 
Units
570,921 
JOURNAL COMMUNICATIONS INC COM STK USD0.01
         11,400 
Units
27,930 
KENNAMETAL INC CAP STK USD1.25
          7,400 
Units
164,206 
KFORCE INC COM STK USD0.01
          5,092 
Units
39,107 
KINDRED HEALTHCARE INC COM STK USD0.25
         21,345 
Units
277,912 
KNOLL INC COM STK USD1
         25,540 
Units
230,371 
LSI CORPORATION COM STK USD0.01
       123,700 
Units
406,973 
L3 COMMUNICATIONS HLDGS INC COM STK USD0.01
          9,008 
Units
664,610 
LAM RESEARCH CORP COM STK USD0.001
         34,000 
Units
723,520 
LANCE INC COM STK USD0.833
          6,200 
Units
142,228 
LANDSTAR SYSTEMS INC COM STK USD0.01
          6,770 
Units
260,171 
LEGGETT & PLATT INC COM STK USD0.01
         27,200 
Units
419,968 
LENNOX INTERNATIONAL INC COM STK USD0.01
          9,055 
Units
293,654 
LEXMARK INTERNATIONAL INC CLASS'A'COM STK USD0.01
          4,500 
Units
121,050 
LIN TV CORP COM STK USD0.01
         86,100 
Units
93,849 
LINCARE HLDGS INC COM STK USD0.01
         18,745 
Units
504,803 
LINCOLN NATIONAL CORP COM STK USD1.25
         80,600 
Units
1,518,504 
LIVE NATION INC COM STK USD0.01
         22,885 
Units
131,360 
LOCKHEED MARTIN CORP COM STK USD1
         29,200 
Units
2,455,136 
LODGENET INTERATIVE CORP
         70,400 
Units
49,280 
LUBRIZOL CORP COM STK NPV
         10,100 
Units
367,539 
MDC HLDGS INC COM STK USD0.01
          3,940 
Units
119,382 
MPS GROUP INC COM STK USD0.01
         19,025 
Units
143,258 
MACERICH CO COM STK USD0.01
          5,782 
Units
105,001 
MACK CALI REALTY CORP COM STK USD0.01
          2,500 
Units
61,250 
MANITOWOC CO INC COM STK USD0.01
         11,175 
Units
96,776 
MARATHON OIL CORP COM STK USD1
         42,800 
Units
1,171,008 
MASSEY ENERGY COM COM STK USD0.625
          6,195 
Units
85,429 
MAXIMUS INC COM STK NPV
          7,216 
Units
253,354 
MCAFEE INC COM STK USD0.01
          9,990 
Units
345,354 
MCDONALD'S CORP COM STK USD0.01
          7,500 
Units
466,425 
MEADWESTVACO CORPORATION COM NPV
         31,700 
Units
354,723 
MEDAREX INC COM STK USD0.01
         86,700 
Units
483,786 
MENS WEARHOUSE INC COM STK USD0.01
          8,425 
Units
114,075 
MERCK & CO INC COM STK USD0.01
               - 
Units
21,888 
METTLER TOLEDO COM STK USD0.01
          4,400 
Units
296,560 
MICROSOFT CORP COM STK USD0.00000625
       116,400 
Units
2,262,816 
MICROSTRATEGY INC.
          1,600 
Units
59,408 
MICROCHIP TECHNOLOGY COM STK USD0.001
         21,500 
Units
419,895 
MILLER(HERMAN) INC COM STK USD0.20
      44,500 
Units
584,816 
MINERALS TECHNOLOGIES INC COM STK USD0.10
          1,900 
Units
77,710 
MONRO MUFFLER BRAKE INC COM STK USD0.01
          3,300 
Units
84,150 
MONSTER WORLDWIDE INC COM STK USD0.001
          8,200 
Units
99,138 
MOODYS CORP COM STK USD1
          9,000 
Units
180,810 
MOOG INC CLASS'A'(LIM.V)USD1
          4,500 
Units
164,565 
MUELLER INDUSTRIES INC COM STK USD0.01
          5,220 
Units
130,918 
MYERS INDUSTRIES INC COM STK NPV
          6,200 
Units
49,972 
MYLAN INC COM STK USD0.50
         67,000 
Units
662,630 
NBTY INC COM STK USD0.008
         11,398 
Units
178,379 
NATIONAL OILWELL VARCO INC COM STK USD0.01
         20,000 
Units
488,800 
NATIONAL PENN BANCSHARES COM STK NPV
          3,900 
Units
56,589 
NATIONWIDE HEALTH PROPERTIES INC COM STK USD0.10
             412 
Units
11,833 
NAVIGATORS GROUP INC COM STK USD0.10
             900 
Units
49,419 
NEW YORK TIMES CO COM CLASS'A'STK USD0.10
         34,900 
Units
255,817 
NIKE INC CLASS'B'COM STK NPV
         47,100 
Units
2,413,475 
NOBLE ENERGY INC COM STK USD3.33 1/3
         12,800 
Units
630,016 
NORTHWEST NATURAL GAS CO COM STK USD3.167
          3,900 
Units
172,497 
NOVELLUS SYSTEMS INC COM STK NPV
         46,900 
Units
578,746 
NUCOR CORP COM STK USD0.40
          7,600 
Units
353,780 
OSI PHARMACEUTICALS INC COM STK USD0.01
         29,300 
Units
1,144,165 
OCCIDENTAL PETROLEUM CORP COM USD0.20
         36,200 
Units
2,183,702 
OCEANEERING INTERNATIONAL INC COM STK USD0.25
          4,200 
Units
122,388 
OLD DOMINION FREIGHT LINE INC COM STK USD0.10
          4,000 
Units
113,840 
OMNICARE INC COM STK USD1
      20,870 
Units
579,351 
OMNIVISION TECHNOLOGIES INC COM STK USD0.001
    16,935 
Units
88,909 
O'REILLY AUTOMOTIVE INC COM STK USD0.01
   27,500 
Units
845,350 
OSHKOSH CORPORATION
     84,515 
Units
751,338 
OVERSEAS SHIPHOLDING GROUP INC COM STK USD1
    14,000 
Units
589,540 
OXFORD INDUSTRIES INC COM STK USD1
          3,000 
Units
26,310 
PHH CORP COM STK NPV
         26,630 
Units
339,000 
PPG INDUSTRIES INC COM STK USD1.666
          8,000 
Units
339,440 
PACTIV CORP COM STK USD0.01
         40,900 
Units
1,017,592 
PALL CORP COM STK USD0.10
         41,800 
Units
1,188,374 
PALM INC COM STK USD0.001
         75,000 
Units
230,250 
PANTRY INC COM STK USD0.01
          3,900 
Units
83,655 
PARAMETRIC TECHNOLOGY CORP NEW COM STK USD0.01
         12,800 
Units
161,920 
PARKER-HANNIFIN CORP COM STK USD0.50
         13,450 
Units
572,163 
PAYCHEX INC COM STK USD0.01
         23,500 
Units
617,580 
PEPSICO INC CAP STK USD0.0166
         62,300 
Units
3,438,649 
PERINI CORP COM STK USD1
          6,140 
Units
143,553 
PEROT SYSTEMS CLASS'A'COM STK USD0.01
       131,800 
Units
1,801,706 
PFIZER INC COM STK USD0.05
         86,900 
Units
1,538,999 
PHILIP MORRIS INTERNATIONAL INC NPV
         34,500 
Units
1,520,319 
PINNACLE WEST CAPITAL CORP COM STK USD2.50
         27,600 
Units
886,788 
PITNEY BOWES INC COM STK USD1
         22,400 
Units
570,752 
PRECISION CASTPARTS CORP COM NPV
         39,900 
Units
2,373,252 
PRICELINE.COM INC COM STK USD0.008
         15,000 
Units
1,104,750 
PROGRESS ENERGY INC COM STK NPV
         13,400 
Units
533,990 
PROGRESS SOFTWARE CORP COM STK USD0.01
          5,200 
Units
100,152 
PROSPERITY BANCSHARES INC COM STK USD1
          4,200 
Units
124,856 
PRUDENTIAL FINANCIAL INC COM STK USD0.01
      28,300 
Units
856,358 
PUBLIC SERVICE ENTERPRISE GROUP INC COM STK NPV
       19,100 
Units
557,147 
PUGET ENERGY INC COM STK NPV
       13,215 
Units
360,373 
PULTE HOMES INC COM STK USD0.01
       30,520 
Units
334,804 
QUALCOMM INC COM STK USD0.0001
       117,500 
Units
4,228,825 
QUESTAR CORP COM STK NPV
         16,500 
Units
539,385 
QWEST COMMUNICATIONS INTL INC COM STK USD0.01
       151,300 
Units
550,732 
RC2 CORP COM STK USD0.01
         10,700 
Units
114,169 
RF MICRO DEVICES INC COM STK NPV
       140,800 
Units
109,824 
RAMCO-GERSHENSON PROPERTIES TRUST SBI USD0.01
          7,600 
Units
48,726 
RAYMOND JAMES FINANCIAL INC COM STK USD0.01
         11,000 
Units
189,640 
RAYONIER INC COM STK NPV
          5,100 
Units
159,885 
RAYTHEON CO COM STK USD0.01
         35,000 
Units
1,796,200 
REDWOOD TRUST INC COM STK USD0.01
          4,270 
Units
66,868 
REGENCY CENTERS CORP COM STK USD0.01
          2,300 
Units
107,410 
REGIS CORP COM STK USD0.05
          7,580 
Units
110,137 
REINSURANCE GROUP OF AMERICA USD0.01
          8,435 
Units
361,187 
RELIANCE STEEL & ALUMINIUM COM STK NPV
         14,400 
Units
288,886 
REPUBLIC SERVICES INC COM STK USD0.01
         10,500 
Units
262,290 
RESEARCH IN MOTION COM NPV
         55,500 
Units
2,252,190 
ROBERT HALF INTERNATIONAL INC COM STK USD1
         30,400 
Units
632,928 
ROCK-TENN CO CLASS'A'COM STK USD0.01
          2,635 
Units
90,064 
ROCKWELL COLLINS INC COM STK USD0.01
         17,000 
Units
664,530 
ROSS STORES INC COM STK USD0.01
         15,100 
Units
450,358 
ROWAN COS INC COM STK USD0.125
         23,900 
Units
380,010 
ROYAL DUTCH SHELL ADR EACH REPR 2'A'SHS
         20,000 
Units
1,058,800 
RUDDICK CORP COM STK USD1
         11,200 
Units
311,024 
RYDER SYSTEM INC COM STK USD0.50
          1,000 
Units
38,780 
S & T BANCORP INC COM STK USD2.50
          2,100 
Units
75,201 
SY BANCORP INC COM STK NPV
          1,400 
Units
38,738 
ST.JUDE MEDICAL INC COM STK USD0.10
         24,300 
Units
800,928 
ST MARY LAND & EXPLORATION COM STK USD0.01
         20,700 
Units
420,417 
SARA LEE CORP COM STK USD0.01
         46,400 
Units
459,360 
SCHLUMBERGER COM STK USD0.01
         51,500 
Units
2,191,776 
SCHOLASTIC CORP COM STK USD0.01
          1,700 
Units
23,086 
SCHWAB(CHARLES)CORP COM STK USD0.01
       228,100 
Units
3,688,377 
SCOTTS MIRACLE-GRO CO CLASS'A'COM STK NPV
          9,905 
Units
294,377 
SEABRIGHT INSURANCE HLDGS INC COM STK USD0.01
          4,200 
Units
49,308 
SEACHANGE INTERNATIONAL INC COM STK USD0.01
         82,600 
Units
595,546 
SEATTLE GENETICS INC COM STK USD0.01
         59,600 
Units
532,824 
SERVICE CORPORATION INTERNATIONAL COM STK USD1
         37,485 
Units
186,300 
SHERWIN-WILLIAMS CO COM STK USD1
          8,200 
Units
489,950 
SIMON PROPERTY GROUP INC COM STK USD0.0001
         13,300 
Units
706,629 
SINCLAIR BROADCAST GROUP INC CLASS'A'COM STK
         60,000 
Units
198,000 
SKECHERS USA INC CLASS'A'COM STK USD0.001
         15,435 
Units
197,877 
SKYWEST INC COM STK NPV
          3,000 
Units
55,920 
SMUCKER(J.M.)CO COM STK NPV
          4,200 
Units
182,112 
SONOCO PRODUCTS CO COM STK NPV
         23,800 
Units
551,208 
SOTHEBYS INC CLASS'A'LIM.V COM STK USD0.10
         31,000 
Units
275,590 
SOUTHWESTERN ENERGY CO COM STK USD0.10
         56,200 
Units
1,628,114 
SPARTAN STORES INC COM STK USD0.01
          5,100 
Units
118,575 
STANCORP FINANCIAL GROUP COM STK NPV
          3,000 
Units
125,310 
STANDEX INTERNATIONAL CORP COM STK USD1.5
          9,100 
Units
180,544 
STATE AUTO FINANCIAL CORP COM STK NPV
          5,425 
Units
163,076 
STEEL DYNAMICS INC COM STK USD0.01
         29,600 
Units
333,888 
STEELCASE INC COM STK NPV
         40,600 
Units
231,420 
STIFEL FINANCIAL CORP COM STK USD0.15
          2,650 
Units
121,503 
SUN COMMUNITIES INC COM STK USD0.01
         10,300 
Units
144,200 
SUN MICROSYSTEMS INC COM STK USD0.001
         29,365 
Units
112,174 
SUPERVALU INC COM STK USD1
         45,300 
Units
661,380 
SWIFT ENERGY CO COM STK USD0.01
          3,600 
Units
60,516 
SYBASE INC COM STK USD0.001
         15,774 
Units
390,722 
SYKES ENTERPRISES INC COM STK USD0.01
          6,900 
Units
131,928 
SYMANTEC CORP COM STK USD0.01
         50,300 
Units
680,056 
TCF FINANCIAL COM STK USD0.01
         35,100 
Units
479,466 
TJX COS INC COM STK USD1
         23,200 
Units
477,224 
TANGER FACTORY OUTLET CENTERS COM STK USD0.01
          1,100 
Units
41,382 
TAUBMAN CENTRES INC COM STK USD0.01
          1,500 
Units
38,813 
TECHNITROL INC COM STK USD0.125
         28,780 
Units
102,673 
TERADYNE INC COM STK USD0.125
         15,115 
Units
63,785 
TEREX CORP COM STK USD0.01
         55,500 
Units
961,260 
TERRA INDUSTRIES COM STK NPV
         29,800 
Units
496,766 
TEVA PHARMACEUTICAL INDUSTRIES ADR EACH CNV INTO 1
         78,000 
Units
3,320,460 
THERMO FISHER SCIENTIFIC INC COM STK USD1
         64,200 
Units
2,187,294 
THOMAS & BETTS CORP COM STK USD0.10
         37,200 
Units
893,544 
THOR INDUSTRIES COM STK USD0.10
         14,490 
Units
191,993 
TORO CO COM STK USD1
          7,765 
Units
257,410 
TRIMBLE NAVIGATION COM STK NPV
         21,500 
Units
464,615 
TUPPERWARE BRANDS CORP COM STK USD0.01
          7,115 
Units
163,076 
URS CORP COM STK USD0.01
          8,400 
Units
342,468 
ULTRA PETROLEUM CORP COM NPV
         18,400 
Units
634,984 
UNIFI INC COM STK USD0.10
         95,000 
Units
267,900 
UNION PACIFIC CORP COM STK USD2.50
          9,200 
Units
442,244 
UNITED BANKSHARES INC COM STK USD2.50
          4,400 
Units
147,444 
UNITED RENTALS INC COM STK USD0.01
         90,006 
Units
820,855 
UNITED STATES CELLULAR CORP COM STK USD1
         19,900 
Units
860,476 
UNITED STATES STEEL CORP COM STK USD1
         12,700 
Units
472,440 
UNITED STATIONERS INC COM STK USD0.10
          8,200 
Units
274,618 
UNITRIN COM STK USD0.10
         12,450 
Units
198,453 
UNIVERSAL CORP COM STK NPV
          3,035 
Units
90,655 
VF CORP COM STK NPV
          9,100 
Units
498,407 
VALSPAR CORP COM STK USD0.50
    41,800 
Units
762,432 
VISHAY INTL USD0.10
         89,900 
Units
307,458 
WADDELL & REED FINANCIAL INC CLASS'A'COM STK
         35,300 
Units
552,445 
WAL-MART STORES INC COM STK USD0.10
         76,000 
Units
4,278,610 
WARNACO GROUP INC CLS'A'COM STK USD0.01
          2,785 
Units
54,670 
WASHINGTON FEDERAL INC COM STK USD1
         15,815 
Units
237,383 
WATERS CORP COM STK USD0.01
         14,300 
Units
524,095 
WATSON WYATT WORLDWIDE INC CLASS'A'COM STK USD0.01
          6,145 
Units
294,315 
WEBSTER FINANCIAL CORP COM STK USD0.01
         13,765 
Units
189,682 
WERNER ENTERPRISES INC COM STK USD0.01
         25,600 
Units
443,904 
WESTAMERICA BANCORP COM STK NPV
          1,900 
Units
97,185 
WESTERN UNION COMPANY (THE) COM STK USD0.01
     55,700 
Units
798,738 
WHIRLPOOL CORP COM STK USD1
    10,200 
Units
421,770 
WHITING PETROLEUM CORP COM STK USD0.001
          8,020 
Units
268,349 
WORLD FUEL SERVICES CORP COM STK USD0.01
          6,065 
Units
224,632 
WYETH COM USD0.333
         98,600 
Units
3,698,486 
XEROX CORP COM STK USD1
         72,900 
Units
584,345 
YUM BRANDS INC COM STK NPV
          5,200 
Units
163,800 
CADBURY PLC ADR EACH REPR 4 ORD
         14,700 
Units
524,349 
AMERISOURCEBERGEN CORP COM STK NPV
         51,970 
Units
1,853,250 
AMERICAN EAGLE OUTFITTER COM STK USD0.01
          9,915 
Units
93,796 
INVENTIV HEALTH INC COM STK USD0.001
          8,200 
Units
94,628 
USEC INC COM STK USD0.10
         83,800 
Units
376,262 
TOTAL S A SPONSORED ADR(CNV 1/2 SHS EUR10)
         20,200 
Units
1,117,060 
TRAVELERS COS INC/THE
         19,000 
Units
858,800 
BARCLAYS ADR-EACH REP 4 ORD STK GBP0.25(JPM)
         78,764 
Units
771,887 
AFC ENTERPRISES INC COM STK USD0.001
          7,700 
Units
36,113 
ACUITY BRANDS INC COM STK USD0.01
          7,130 
Units
248,908 
ADOBE SYSTEMS INC COM STK USD0.0001
       115,800 
Units
2,465,382 
ADVANCE AUTO PARTS INC COM STK USD0.0001
         17,185 
Units
579,306 
AETNA INC NEW COM STK USD0.001
         51,900 
Units
1,479,150 
AKAMAI TECHNOLOGIES COM STK USD0.01
         58,700 
Units
885,783 
ALLEGHENY TECHNOLOGIES INC COM STK USD0.10
          6,645 
Units
169,647 
ALTRIA GROUP INC COM STK USD0.333
         99,000 
Units
1,525,852 
AMERIPRISE FINANCIAL INC COM STK USD0.01
         50,900 
Units
1,189,024 
APARTMENT INVESTMENT & MANAGEMENT COM STK USD0.01
         13,999 
Units
190,806 
APOLLO INVESTMENT CORP COM STK USD0.001
         16,860 
Units
156,967 
APPROACH RESOURCES INC COM STK USD0.01
          8,095 
Units
59,174 
ARES CAPITAL CORP COM STK USD0.001
         13,425 
Units
90,619 
ARRIS GROUP INC COM STK USD0.01
         70,700 
Units
562,065 
ASSURANT INC COM STK USD0.01
         41,020 
Units
1,230,600 
BJS WHOLESALE CLUB INC COM STK USD0.01
         13,400 
Units
459,084 
BILL BARRETT CORP COM NPV
         14,500 
Units
306,385 
CRA INTERNATIONAL INC COM
          3,100 
Units
83,483 
CABLEVISION SYSTEMS CORP NY GROUP COM STK USD0.01
         62,200 
Units
1,047,448 
CAMECO CORP COM NPV
         74,800 
Units
1,293,972 
CAPITALSOURCE INC COM STK USD0.01
         38,095 
Units
177,904 
CAPSTEAD MTGE.CORP COM STK USD0.01
         38,715 
Units
430,898 
CENTENNIAL COMMUNICATIONS CORP CLASS'A'COM STK
       139,300 
Units
1,122,758 
CENTENE CORP(DEL) COM STK USD0.001
          8,490 
Units
167,338 
CIBER INC COM STK USD0.01
         23,100 
Units
111,111 
CISCO SYSTEMS INC COM STK USD0.001
       227,800 
Units
3,713,140 
CLIFFS NATURAL RESOURCES INC
         12,500 
Units
320,125 
CONCHO RESOURCES INC COM STK USD0.001
         11,295 
Units
257,752 
CONOCOPHILLIPS COM STK USD1.25
         21,000 
Units
1,087,800 
CONSOL ENERGY INC COM STK USD0.01
          8,000 
Units
228,640 
CORPORATE EXECUTIVE BOARD CO COM STK USD0.01
          6,640 
Units
146,478 
COSTCO WHOLESALE CORP COM STK USD0.005
         41,600 
Units
2,184,000 
DAVITA INC COM STK USD0.001
          9,970 
Units
494,213 
DIRECTV GROUP INC COM STK USD0.01
         20,400 
Units
467,364 
DISCOVERY COMMUNICATIONS INC CLS 'A' USD0.01
         62,050 
Units
878,628 
DISCOVERY COMMUNICATIONS INC CLS 'C' USD0.01
         29,050 
Units
388,980 
DYNCORP INTERNATIONAL INC COM STK USD0.01
          2,500 
Units
37,925 
ENI ADR EACH REP 2 ORD (MGT)
         23,300 
Units
1,114,206 
EDUCATION REALTY TRUST INC COM STK USD0.01
          4,864 
Units
25,390 
ENERGEN CORP COM STK USD0.01
         12,000 
Units
351,960 
ENERSYS COM USD0.01
         12,865 
Units
141,515 
ENTEGRIS INC COM STK USD0.01
         28,755 
Units
62,973 
ENTERGY CORP COM STK USD0.01
          6,300 
Units
523,719 
EXPEDIA INC COM STK USD0.001
         27,895 
Units
229,855 
EXXON MOBIL CORP COM STK NPV
         14,600 
Units
1,165,518 
FACET BIOTECH CORP USD0.01
         14,700 
Units
140,973 
FIDELITY NATIONAL FINANCIAL INC CLASS 'A' COM STK
         20,810 
Units
369,378 
FIRST CITIZENS BANCSHARES INC NRTH CLASS'A'SHS
          1,505 
Units
230,378 
FLOWSERVE CORP COM STK USD1.25
         14,800 
Units
765,750 
FREEPORT-MCMORAN COPPER & GOLD INC COM STK USD0.10
         13,900 
Units
339,716 
GAMESTOP CORPORATION NEW CLASS 'A' COM USD0.001
         52,294 
Units
1,132,688 
GLAXOSMITHKLINE ADR EACH REPR 2 ORD GBP0.25
         41,502 
Units
1,568,953 
GLOBAL PAYMENTS INC COM STK USD0.001
          4,700 
Units
154,113 
GOLDMAN SACHS GROUP INC COM STK USD0.01
          7,900 
Units
666,681 
GOOGLE INC COM STK USD0.001 CLS'A'
         16,100 
Units
4,953,165 
GREATBATCH INC COM STK USD0.001
          2,261 
Units
59,826 
HARRIS STRATEX NETWORKS INC COM STK USD0.01 CLS'A'
         26,500 
Units
136,740 
HATTERAS FINANCIAL CORP USD0.001
         19,565 
Units
539,994 
HEALTH CARE REIT INC COM STK USD1
          1,020 
Units
43,044 
HEALTHSPRING USD0.01
          5,445 
Units
108,737 
HELIX ENERGY SOLUTIONS GROUP INC COM STK NPV
         63,510 
Units
459,812 
HERTZ GLOBAL HOLDINGS INC COM STK USD0.01
       104,725 
Units
530,956 
ICT GROUP INC COM STK USD0.01
          6,300 
Units
28,854 
ITT EDUCATIONAL SERVICES INC COM STK USD0.01
          4,800 
Units
455,904 
IMATION CORP COM STK USD0.01
         14,365 
Units
194,933 
INFINITY PROPERTY & CASUALTY CORP COM NPV
          3,165 
Units
147,900 
INSIGHT ENTERPRISE INC COM STK USD0.01
         16,300 
Units
112,470 
INTERACTIVE DATA CORP COM STK NPV
         10,500 
Units
258,930 
JPMORGAN CHASE & CO COM STK USD1
         26,100 
Units
822,933 
JONES LANG LASALLE INC COM STK USD0.01
         12,975 
Units
359,408 
KADANT INC COM STK USD0.01
          4,600 
Units
62,008 
KB HOME COM STK USD1
         40,800 
Units
555,696 
L-1 IDENTITY SOLUTIONS INC COM STK USD0.001
         35,900 
Units
241,966 
LIFE TECHNOLOGIES CORP COM
         36,800 
Units
857,808 
LIFEPOINT HOSPITALS INC COM STK USD0.01
          8,825 
Units
201,563 
MB FINANCIAL INC COM STK USD0.01
          1,500 
Units
41,925 
MFA FINANCIAL INC COM STK USD0.01
       124,475 
Units
759,298 
MANPOWER INC COM STK USD0.01
         22,565 
Units
766,984 
MCKESSON CORP COM STK USD0.01
         39,400 
Units
1,531,818 
MEDCO HEALTH SOLUTIONS INC COM STK USD0.01
         53,500 
Units
2,242,185 
METLIFE INC COM STK USD0.01
         24,500 
Units
854,070 
MOLINA HEALTHCARE INC COM STK USD0.001
          7,700 
Units
135,597 
MONSANTO CO COM STK USD0.01
         44,000 
Units
3,095,400 
THE MOSAIC COMPANY
         22,500 
Units
778,500 
MYRIAD GENETICS INC COM STK USD0.01
         28,300 
Units
1,875,158 
NII HOLDINGS INC COM STK USD0.001
         62,500 
Units
1,136,250 
NAVIGANT CONSULTING INC COM STK USD0.001
          9,300 
Units
147,591 
NETAPP INC COM STK NPV
         59,400 
Units
829,818 
NISOURCE INC COM STK NPV
         49,200 
Units
539,724 
NU SKIN ENTERPRISES INC CLASS'A'COM STK USD0.001
         18,035 
Units
188,105 
NVIDIA CORP COM STK USD0.001
         92,070 
Units
743,005 
NV ENERGY INC COM STK USD0.01
         14,160 
Units
140,042 
ORACLE CORP COM STK USD0.01
         98,000 
Units
1,737,540 
PDL BIOPHARMA INC COM STK USD0.01
         73,500 
Units
454,230 
PG&E CORP COM STK NPV
         12,800 
Units
500,480 
PNM RESOURCES INC COM STK USD5
         33,365 
Units
336,319 
PACER INTL INC COM
         18,260 
Units
193,191 
PEPSIAMERICAS INC COM STK USD0.01
          9,260 
Units
189,784 
POLYCOM INC COM STK USD0.0005
         32,100 
Units
433,671 
PRICE T.ROWE ASSOC INC COM STK USD0.20
         24,100 
Units
854,104 
PROASSURANCE CORP COM STK USD0.01
          2,025 
Units
106,880 
PSYCHIATRIC SOLUTIONS INC COM STK USD0.01
         25,900 
Units
721,315 
RTI INTERNATIONAL METALS INC COM STK USD0.01
         27,900 
Units
399,249 
REGENERON PHARMACEUTICALS INC COM STK USD0.001
         50,700 
Units
930,852 
RENT-A-CENTER INC COM STK USD0.01
         17,925 
Units
316,376 
SLM CORP COM STK USD0.20
         75,790 
Units
674,531 
SAKS INC COM STK USD0.10
         78,000 
Units
341,640 
SANOFI-AVENTIS ADR ECH REP 1/2 ORD EUR2 SPON
         46,800 
Units
1,505,088 
SCANA CORP(NEW) COM STK NPV
         27,762 
Units
1,001,575 
SHIRE PLC
         20,280 
Units
908,138 
SIRIUS XM RADIO INC
       302,680 
Units
36,322 
STILLWATER MINING CO COM STK USD0.01
       107,100 
Units
529,074 
SUNOCO INC COM STK USD1
         27,900 
Units
1,212,534 
TW TELECOM INC CLS'A'COM STK USD0.01
         72,200 
Units
611,534 
TEMPUR PEDIC INTERNATIONAL INC COM STK USD0.01
         51,430 
Units
364,639 
3M CO COM STK USD0.01
         10,000 
Units
575,400 
TRIQUINT SEMI CONDUCTOR INC COM STK USD0.001
       155,800 
Units
535,952 
TRUE RELIGION APPAREL INC COM STK USD0.00001
         46,300 
Units
575,972 
UNITED AMERICA INDEMNITY LTD COM STK
          3,980 
Units
50,984 
VALERO ENERGY CORP(NEW) COM STK USD0.01
         54,500 
Units
1,179,380 
VECTREN CORP COM NPV
          9,100 
Units
227,591 
VIAD CORP COM STOCK USD1.5
          8,300 
Units
205,674 
VISA INC USD0.0001 'A'
         61,400 
Units
3,220,430 
VOLCOM INC COM STK USD0.001
          3,400 
Units
37,060 
WESCO INTERNATIONAL INC COM STK USD0.01
          9,995 
Units
192,204 
WPT ENTERPRISES INC COM STK USD0.001
         21,127 
Units
9,085 
YAMANA GOLD INC COM NPV
         30,500 
Units
235,778 
AMDOCS ORD GBP0.01
         33,600 
Units
614,544 
ARGO GROUP INTL HLDGS COM STK USD0.01
          7,919 
Units
268,612 
ASPEN INSURANCE HLDGS COM STK USD0.15144558
          5,800 
Units
140,650 
ASSURED GUARANTY LTD COM STK USD0.01
         86,700 
Units
988,380 
ACCENTURE COM STK CLS'A'USD0.0000225
         19,800 
Units
649,242 
BUNGE LTD COM STK USD0.01
          7,300 
Units
377,921 
CASTLEPOINT HOLDINGS LTD COM STK USD0.01
         16,900 
Units
229,164 
ENDURANCE SPECIALTY HLDGS LTD USD1
         19,500 
Units
595,335 
FOSTER WHEELER LTD ORD USD1
         15,200 
Units
355,376 
HERBALIFE LTD
         23,300 
Units
505,144 
IPC HLDGS COM STK USD0.01
         16,235 
Units
485,427 
LAZARD LTD COM STK CLASS 'A' USD0.01
         83,900 
Units
2,495,186 
MAX CAPITAL GROUP COM STK USD1
         40,015 
Units
708,266 
NOBLE CORP COM STK USD0.1
         25,400 
Units
561,086 
OPENTV CORP NPV CLASS'A'
       216,900 
Units
266,787 
PARTNERRE COM STK USD1
          5,270 
Units
375,593 
PLATINUM UNDERWRITERS HLDGS LTD SHS
         16,191 
Units
584,171 
TYCO INTERNATIONAL LTD USD0.10
         25,400 
Units
553,720 
WILLIS GROUP HOLDINGS COM STK USD0.000115
         18,328 
Units
460,766 
XOMA LTD COM STK USD0.0005
       186,800 
Units
115,816 
ACE LIMITED CHF33.74
         15,500 
Units
820,260 
ALCON INC CHF0.20
         33,900 
Units
3,023,541 
CORE LABORATORIES NV EUR0.01
             900 
Units
53,874 
STEINER LEISURE COM STK USD0.01
         24,000 
Units
708,480 
FLEXTRONICS INTERNATIONAL ORD USD0.01
       144,112 
Units
368,927 
VERIGY LTD COM NPV
          8,430 
Units
81,097 
Total Corporate Stock
    
$
345,027,766 
         
Corporate Debt Securities
        
AIFUL CORPORATION 5% DUE 10/AUG/2005
         70,000 
Units
$
39,857 
AIR 2 US 8.027% NTS 01/OCT/2020 USD1000 SER’A’
         79,386 
Units
61,133 
ALCOA INC 6% BDS 15/JUL/2013 USD2000
         80,000 
Units
74,548 
ALTERNATIVE LOAN TRUST 2006-OA 4-A-1 VARIABLE
       248,462 
Units
96,903 
ALTERNATIVE LOAN TRUST 2007-AL A-1 5.570%
       105,099 
Units
39,727 
ALTRIA GROUP INC 9.7% NTS 10/NOV/2018 USD1000
       140,000 
Units
153,240 
AMERICA MOVIL SAB DE CV 5.625% SNR NTS 15/NOV/2017
         40,000 
Units
35,849 
AMERICAN EXPRESS CO FLTG RTE DEB 01/SEP/2066
         50,000 
Units
27,028 
AMERICAN EXPRESS CREDIT CORP 5.875% BDS
         20,000 
Units
19,392 
AMERICAN HOME MORTGAGE ASSETS TRUST 2006-2 2A1
       246,544 
Units
97,697 
AMERICAN HOME MORTGAGE ASSETS TRUST 2006-3 3A12
       219,542 
Units
88,700 
AMERICAN HOME MORTGAGE ASSETS TRUST 2006-4 I-A-1-
       308,061 
Units
107,346 
AMERICAN INTERNATIONAL GROUP INC 5.85% MTN
         20,000 
Units
13,942 
ANADARKO FINANCE CORP 7.5% BDS 01/MAY/2031 USD1000
       140,000 
Units
125,549 
ANADARKO PETROLEUM CORP 5.79% SR FLTG RATE NTS
       110,000 
Units
105,375 
ANADARKO PETROLEUM CORP 5.95% SNR NTS 15/SEP/2016
         20,000 
Units
18,017 
ANADARKO PETROLEUM CORP 6.45% SNR NTS 15/SEP/2036
         90,000 
Units
72,704 
AOL TIME WARNER INC 6.875% NTS 01/MAY/2012 USD1000
       100,000 
Units
97,215 
AOL TIME WARNER INC 7.7% BDS 01/MAY/2032 USD1000
         30,000 
Units
30,422 
APACHE CORP 6% NTS 15/SEP/2013 USD2000
         70,000 
Units
73,645 
BAC CAPITAL TRUST XIV 5.63% NTS PERP USD1000
         10,000 
Units
4,175 
BAKER HUGHES INC 7.5% BDS 15/NOV/2018 USD1000
         90,000 
Units
100,960 
BANC OF AMERICA COMMERCIAL MORTGAGE 5.8379% BDS
         90,000 
Units
59,270 
BANC OF AMERICA COMMERCIAL MORTGAGE TRUST 2006-3
       430,000 
Units
352,539 
BANC OF AMERICA FUNDING 2006-E TRUST 2006-E 2-A-1
       198,959 
Units
104,700 
BANC OF AMERICA FUNDING 2006-G TRUST 2006-G 2-A-2
       184,258 
Units
160,029 
BANK OF AMERICA CORP 8.125% BDS 29/DEC/2049
         70,000 
Units
53,098 
BAYVIEW COMMERCIAL ASSET TRUST 2005-3A A1 VAR
       288,409 
Units
224,984 
BAYVIEW COMMERCIAL ASSET TRUST 2005-4 A-2 14
       172,894 
Units
129,657 
BEAR STEARNS ALT-A TR 2004-11 MTG PASSTHRU CTF CL
       109,365 
Units
60,454 
BEAR STEARNS ALT-A TRUST 2004-11 II-A-6 VARIABLE
         88,857 
Units
56,842 
BEAR STEARNS CO 6.4% BDS 02/OCT/2017 USD1000
       120,000 
Units
126,600 
BEAR STEARNS CO 7.25% BDS 01/FEB/2018 USD1000
         20,000 
Units
22,521 
BEAR STEARNS SECURITIES TRUST 01-3 A-1 VARIABLE
         10,635 
Units
8,289 
BEAR STEARNS STRUCTURED PRODUCTS TRUST 2007-EM A-1
       296,927 
Units
253,661 
BP CAPITAL MARKETS 5.25% GTD SNR NTS 07/NOV/2013
       140,000 
Units
147,254 
CARDINAL HEALTH INC 5.85% NTS 15/DEC/2017 USD1000
       100,000 
Units
90,428 
CATERPILLAR FINANCIAL SERVICES CORP SER’F’6.2% MTN
       100,000 
Units
104,728 
C-BASS MORTGAGE LOAN ASSET BACKED CERTIFICATES
         95,100 
Units
62,696 
CITIGROUP INC 4.125% 22/FEB/2010
       140,000 
Units
140,029 
CITIGROUP INC 5% NTS 15/SEP/2014 USD1000
       180,000 
Units
160,975 
CITIGROUP INC 5.625% BDS 27/AUG/2012 USD1000
       110,000 
Units
105,248 
CITIGROUP INC 5.875% BDS 29/MAY/2037 USD1000
         20,000 
Units
20,089 
CITIGROUP INC 6.125% NTS 25/AUG/2036 USD1000
         10,000 
Units
9,172 
CITIGROUP INC 6.875% SNR NTS 05/MAR/2038
       120,000 
Units
139,205 
COMCAST CORP 6.5% BDS 15/JAN/2017 USD1000
         90,000 
Units
91,592 
COMCAST CORP 6.50 15/JAN/2015
       210,000 
Units
212,710 
COMM 2006-C8 A-4 5.306% 10/DEC/2046
       310,000 
Units
227,627 
CONOCO INC 6.95% SNR NTS 15/APR/2029 USD1000
       270,000 
Units
294,509 
COUNTRYWIDE ALTERNATIVE LOAN TRUST 2005-44 1A1 VAR
       300,028 
Units
138,605 
COUNTRYWIDE ALTERNATIVE LOAN TRUST SER#2005-59
       214,843 
Units
107,444 
COUNTRYWIDE FINANCIAL CORP 5.8% BDS 07/JUN/2012
         70,000 
Units
68,496 
COUNTRYWIDE HOME EQUITY LOAN TRUST 2004-R CL 2A
       167,721 
Units
50,753 
CREDIT SUISSE COMMERCIAL MORTGAGE TRUST 2006-C2
       200,000 
Units
163,795 
CREDIT SUISSE COMMERCIAL MORTGAGE TRUST 2007-C5
  70,000 
Units
41,916 
CREDIT SUISSE COMMERCIAL MTG TRUST 5.467% CMO
  360,000 
Units
266,515 
CREDIT SUISSE GUERNSEY 5.86% UNDATED BDS USD2000
   40,000 
Units
18,974 
CREDIT SUISSE MORTGAGE CAPITAL CERTIFICATE 2007-C4
  150,000 
Units
90,301 
CREDIT SUISSE MORTGAGE CAPITAL CERTIFICATE 2007-C4
200,000 
Units
124,665 
CSMC TRUST 2006-CF2 VAR 25/MAY/2036
   139,785 
Units
87,688 
CVS CORP 126650AQ3 5.789% 10/JAN/2026
    34,734 
Units
26,556 
CVS CORP BDS PASSTHRU CT 6.036% 10/DEC/2028
   216,489 
Units
132,437 
CVS LEASE PASS THROUGH 5.88% 10/JAN/2028
          2,791 
Units
2,553 
CWABS ASSET-BACKED NOTE TRUST 2006-SD A-1 14
       175,264 
Units
125,721 
CWALT ALTERNATIVE LN TR SER 2006 OA FR CMO
       190,139 
Units
82,508 
CWALT INC 12667GPB3 20/JUL/2035
       176,633 
Units
87,188 
CWHEQ REVOLVING HOME EQUITY LOAN RESECURITIZATION
       180,041 
Units
25,237 
CWMBS INC 12669GUX7 25/MAR/2035
       119,659 
Units
56,160 
CWMBS, INC. 2003-60 DUE 25/FEB/2034
       223,518 
Units
153,720 
DAIMLER NORTH AMERICA CORPORATION 5.875% BDS
       170,000 
Units
151,181 
DELTA AIR LINES INC 6.619% ASSET BKD NTS
         73,889 
Units
64,283 
DELTA AIR LINES VAR 10/AUG/2022
         93,494 
Units
58,126 
DEUTSCHE TELEKOM INTL FINANCE B.V. 5.75% BDS
         70,000 
Units
68,102 
DIAGEO 7.375% BDS 15/JAN/2014 USD1000
       140,000 
Units
151,143 
DOMINION RESOURCES INC 5.7% 17/SEP/2012
       130,000 
Units
130,864 
DOMINION RESOURCES INC(VIRGINIA) 8.875% BDS
         20,000 
Units
21,716 
DRIVE AUTO RECEIVABLES TRUST 2006-2 A-3 14 5.330%
       320,000 
Units
282,357 
DUKE ENERGY CORP 5.625% DUE 30/NOV/2012
       170,000 
Units
173,952 
ENTERPRISE PRODUCTS OPER L P 9.75% BDS 31/JAN/2014
       130,000 
Units
133,187 
EUROHYPO AG 5% MTN 20/JAN/2012 USD1000 ‘144A’
         10,000 
Units
10,867 
EXELON CORP 5.625% BDS 15/JUN/2035 USD1000
         35,000 
Units
22,182 
FHLMC GOLD TBA 30 YR 5.5% MBPT 15/JAN/2033 USD1000
       800,000 
Units
818,750 
FIRST HORIZON ALTERNATIVE MORTGAGE SECURITIES
       108,799 
Units
32,579 
FIRSTENERGY CORP 6.45% BDS 15/NOV/2011 USD1000
         70,000 
Units
66,745 
FIRSTENERGY CORP 7.375% BDS 15/NOV/2031 USD1000
       165,000 
Units
157,648 
FNMA TBA 15YR TBA 05.000% JAN
       500,000 
Units
513,125 
FNMA TBA 5% MBPT 15/JAN/2034 USD1000
    5,100,000 
Units
5,206,784 
FNMA TBA 5.5% MBPT 15/JAN/2019 USD1000
       500,000 
Units
514,844 
FREEPORT-MCMORAN COPPER & GOLD INC 8.375% BDS
       140,000 
Units
117,731 
GENERAL ELECTRIC CAPITAL CORP FLTG RATE NTS
       180,000 
Units
114,632 
GLAXOSMITHKLINE CAPITAL INC 5.65% SNR NTS
       150,000 
Units
158,632 
GLITNIR BANKI HF 6.33% NTS 28/JUL/2011 USD1000
       150,000 
Units
11,160 
GLITNIR BANKI HF 6.375% NTS 25/SEP/2012 USD1000
       100,000 
Units
6,450 
GMAC COMMERCIAL MORTGAGE SECURITIES INC 2006-C1
       300,000 
Units
240,373 
GNMA TBA 30 YR 6.5% MBPT 15/JAN/2036USD1000
       700,000 
Units
727,782 
GOLDMAN SACHS CAPITAL II 5.793% BDS PERPETUAL
         70,000 
Units
27,255 
GOLDMAN SACHS GROUP LP 4.500 15JNE15/JUN/2010
       110,000 
Units
108,613 
GREENPOINT MORTGAGE FUNDING TRUST 2006-AR 1-A1B
       287,932 
Units
233,649 
GREENPOINT MORTGAGE FUNDING TRUST 2006-AR A1-A
       194,358 
Units
146,202 
GREENPOINT MORTGAGE FUNDING TRUST FR CMO
       227,996 
Units
186,526 
GSAA HOME EQUITY TRUST SER 2005-5 CL A4
         62,347 
Units
27,544 
HARBORVIEW MORTGAGE LOAN TRUST 02/OCT/2007A-1A
       323,342 
Units
124,457 
HARBORVIEW MORTGAGE LOAN TRUST 2006-9 2A1A VAR
       275,892 
Units
118,736 
HARBORVIEW MTG LN TR 2005-7 MTG
       278,004 
Units
120,693 
HARBORVIEW MTG LN TR 2006-7 2A-1A 19/SEP/2046 FLT
       249,207 
Units
101,580 
HBOS CAPITAL FDG FR NTS 29/DEC/2049 USD1000
         20,000 
Units
7,400 
HOLDINGS III LTD 27/SEP/2037
       377,202 
Units
366,856 
ILFC E-CAPITAL TRUST II 6.25% BDS 21/DEC/2065
       100,000 
Units
41,950 
IMPERIAL CMB TRUST SERIES 2003-4 DUE
          5,350 
Units
3,109 
INDYMAC INDA 2007-AR7 1-A-1 25/NOV/2037 FLT
         47,021 
Units
29,231 
JPMORGAN CHASE & CO 2.125% GTD BDS 22/JUN/2012
         60,000 
Units
60,282 
JPMORGAN CHASE & CO 5.125% 15/SEP/2014
       270,000 
Units
265,725 
JPMORGAN CHASE & CO 5.15% 01/OCT/2015
       140,000 
Units
133,998 
KAUPTHING BK HF MTN SR BK 144A FR
       310,000 
Units
12,400 
KERR MCGEE CORP 6.95% 01/JUL/2024
         80,000 
Units
72,928 
KEY BANK NA 5.5% 17/SEPT/2012
         20,000 
Units
18,963 
KINDER MORGAN ENER PART
         70,000 
Units
61,199 
KINDER MORGAN ENERGY PARTNERS 6% SNR NTS
         20,000 
Units
17,864 
KINDER MORGAN ENERGY PARTNERS 6.95% BDS
       120,000 
Units
100,895 
KONINKLIJKE KPN NV 8% BDS 01/OCT/2010 USD1000
       120,000 
Units
123,504 
KROGER CO 6.15% NTS 15/JAN/2020 USD1000
         10,000 
Units
10,150 
LANDSBANKI ISLANDS HF 6.1% NTS 25/AUG/2011 USD1000
       150,000 
Units
2,625 
LEHMAN BROS CAP TR VII VAR PERP
         90,000 
Units
9 
LEHMAN BROS HLDGS INC 5.25% FR MTN ‘700’
         50,000 
Units
4,750 
LEHMAN BROS HLDGS INC 6.2% BDS 26/SEP/2014 USD1000
         30,000 
Units
2,850 
LEHMAN BROS HLDGS INC 6.5% BDS 19/JUL/2017 USD1000
         80,000 
Units
8 
LEHMAN BROS HLDGS INC 6.75% BDS 28/DEC/2017
       210,000 
Units
21 
LEHMAN XS TRUST 2006-14 1-A1B VARIABLE 25/SEP/2046
       312,554 
Units
82,825 
LEHMAN XS TRUST 2006-2N 1-A1 VARIABLE 25/FEB/2046
       316,589 
Units
128,918 
LEHMAN XS TRUST 2006-GP4 3-A1A 25/AUG/2046 FLT
       170,335 
Units
130,864 
LEHMAN XS TRUST VAR 25/NOV/2035
       197,954 
Units
89,039 
MASTR ADJUSTABLE RATE MORTGAGES TRUST 2007-3 1-2A1
       333,240 
Units
128,521 
MERRILL LYNCH & CO INC 5.7% BDS 02/MAY/2017
       110,000 
Units
98,483 
MERRILL LYNCH FIRST FRANKLIN MORTGAGE LOAN TRUST
       304,005 
Units
231,126 
MERRILL LYNCH MORTGAGE TRUST 2006-C1 A-4 VARIABLE
       400,000 
Units
327,706 
METLIFE INC BDS 6.4% 15/DEC/2066 USD1000
       195,000 
Units
117,583 
ML-CFC COML MTG TR 2007-5 A-4 12/AUG/2048 5.37800
         90,000 
Units
66,934 
MORGAN STANLEY 5.625% BDS 09/JAN/2012 USD1000
       130,000 
Units
126,774 
MORGAN STANLEY 6.6250% 01/APR/2018
       100,000 
Units
89,385 
MORGAN STANLEY BDS 18/OCT/2016 USD100000
         30,000 
Units
20,943 
MORGAN STANLEY MORTGAGE LOAN TRUST 4.215% CMO
         24,339 
Units
11,449 
NEWS AMERICA INC 6.65% SNR NTS 15/NOV/2037 USD1000
         10,000 
Units
9,983 
NORTHWEST AIRLINES CORP 7.575% BDS 01/MAR/2019
         40,177 
Units
30,143 
OCCIDENTAL PETROLEUM CORP 7% SNR NTS 01/NOV/2013
       120,000 
Units
132,607 
PACIFIC GAS & ELECTRIC 6.05% 01/MAR/2034
         70,000 
Units
75,756 
PACIFIC GAS & ELECTRIC CO 5.8% SNR NTS 01/MAR/2037
         10,000 
Units
10,565 
PACIFIC GAS & ELECTRIC CO 8.25% SNR NTS
         10,000 
Units
12,175 
PEMEX PROJECT FUNDING MASTER TRUST 6.625% BDS
         60,000 
Units
50,967 
PEPSICO INC 7.9% SNR UNSEC NTS 01/NOV/2018 USD1000
         70,000 
Units
86,824 
PETROBRAS INTERNATIONAL FINANCE 6.125% NTS
         90,000 
Units
89,052 
RALI SERIES TRUST 2006-QO8 I-A1B 25/OCT/2046 FLT
       371,004 
Units
93,724 
RBSGC MORTGAGE LOAN TRUST 2007-B 1A4 VARIABLE
       145,763 
Units
73,802 
RESONA PFD GLOBAL SECS VAR PERP 144A
         60,000 
Units
30,398 
REYNOLDS AMERICAN INC 7.625% SNR NTS 01/JUN/2016
         40,000 
Units
33,567 
RIO TINTO FINANCE LTD 6.5% BDS 15/JUL/2018 USD2000
       100,000 
Units
76,639 
RUSSIAN FEDERATION MINISTRY FINANCE VAR BDS
       300,000 
Units
267,874 
SECURITIZED ASSET BACKED RECEIVABLES LLC TRUST
       300,508 
Units
139,342 
SHELL INTL.FIN.BV 6.375% GTD NTS 15/DEC/2038 USD
         90,000 
Units
101,568 
SHINSEI FIN CAYMAN LTD 6.418% BDS 20/JUL/2016
       110,000 
Units
26,198 
SIERRA TIMESHARE RECEIVABLES FUNDING LLC 2006-1
       113,590 
Units
92,874 
SLM CORP 5% MTN 01/OCT/2013 USD1000
         45,000 
Units
32,761 
SLM CORP 5.625% 01/AUG/2033
       245,000 
Units
154,370 
SLM CORP 78442FCJ5 5.375% 15/MAY/2014
         20,000 
Units
13,635 
SMFG PREFERRED CAPITAL VAR BDS PERPETUAL USD100000
       100,000 
Units
70,106 
SOUTHERN NATURAL GAS CO 5.9% NTS 15/MAR/2017
         20,000 
Units
16,144 
SPRINT CAP CORP NT 8.375% DUE 15/MAR/2012
       190,000 
Units
156,685 
STRUCTURED ASSET MORTGAGE INVESTMENTS II TRUST
       239,542 
Units
82,494 
STRUCTURED ASSET MORTGAGE INVESTMENTS INC 2006-AR7
       297,061 
Units
118,052 
STRUCTURED ASSET SECS CORP 4.956% MTG BDS
       117,608 
Units
80,201 
SUNTRUST CAPITAL VIII 6.1% NTS 15/DEC/2036 USD1000
       120,000 
Units
84,823 
TBA FNMA SF 5.50 30 YRS JAN
    2,450,000 
Units
2,511,250 
TELECOM ITALIA CAPITAL 5.25% 01OCT20015
         70,000 
Units
54,206 
TELECOM ITALIA CAPITAL 6.999% GTD NTS 04/JUN/2018
         50,000 
Units
40,825 
TERWIN MORTGAGE TRUST TMTS 20 AF-3 VARIABLE
       200,000 
Units
168,671 
THORNBURG MORTGAGE SECURITIES TRUST 2006-1 A-3
         79,187 
Units
78,893 
THORNBURG MORTGAGE SECURITIES TRUST 2007-4 3A-1
       146,436 
Units
113,105 
THORNBURG MTG TR 2007-4 2A-1 25/SEP/2037 FLT
       155,542 
Units
110,964 
TIME WARNER CABLE INC 8.75% BDS 14/FEB/2019
         80,000 
Units
87,823 
TNK-BP FINANCE CALL7.875%13/MAR/2018
       200,000 
Units
104,725 
TOYOTA MTR CRD CORP MTN BE VR
         70,000 
Units
69,657 
TRAVELERS COS INC VAR 15/MAR/2067
       120,000 
Units
80,842 
TYCO INTERNATIONAL 6% NTS 15/NOV/2013 USD1000
       220,000 
Units
208,116 
VALE OVERSEAS LIMITED 6.875% GTD NTS 21/NOV/2036
       165,000 
Units
151,031 
VERIZON COMMUNICATIONS INC 5.5% BDS 15/FEB/2018
         50,000 
Units
49,131 
VERIZON COMMUNICATIONS INC 8.95% SNR NTS
       100,000 
Units
130,586 
VERIZON COMMUNICATIONS INC NT 6.1% 15/APR/2018
         35,000 
Units
35,324 
VERIZON GLOBAL FUNDING CORP 7.375% BDS 01/SEP/2012
         40,000 
Units
42,830 
WACHOVIA BANK COMMERICAL MTG TST FLTG RATE NTS
       152,165 
Units
63,405 
WACHOVIA CORP 5.75% BDS 15/JUN/2017 USD1000
         30,000 
Units
29,937 
WACHOVIA CORPORATION 5.25% 01/AUG/2014
       220,000 
Units
209,746 
WAL-MART STORES INC 5.8% NTS 15/FEB/2018 USD1000
       110,000 
Units
124,131 
WAL-MART STORES INC 6.2% BDS 15/APR/2038 USD1000
         10,000 
Units
11,575 
WAMU MORTGAGE PASS-THROUGH CERTIFICATES 2005-AR
       462,324 
Units
214,242 
WAMU MORTGAGE PASS-THROUGH CERTIFICATES 2005-AR
       132,004 
Units
60,920 
WAMU MORTGAGE PASS-THROUGH TRUST 2005 AR14 1A1
       101,801 
Units
82,401 
WAMU MTG CERT 2007-OA6 1A-1B 25/JUL/2047 FLT
       362,969 
Units
108,769 
WAMU MTG PASS THRU CTFS SER 2006 AR FLTG RATE NTS
       129,163 
Units
75,322 
WASTE MGMT INC DEL SR NT 6.375% 15/NOV/2012
       130,000 
Units
122,288 
WELLPOINT INC 5.875% BDS 15/JUN/2017 USD1000
         10,000 
Units
9,127 
WELLS FARGO CAPITAL VAR BDS 01/DEC/2086 USD100000
       100,000 
Units
85,983 
WELLS FARGO MORTGAGE BACKED SECURITIES TRUST
       224,933 
Units
163,889 
WEYERHAEUSER CO 6.75% NTS 15/MAR/2012 USD1000
         90,000 
Units
82,352 
WISCONSIN POWER & LIGHT CO 6.375% DEB 15/AUG/2037
         20,000 
Units
20,712 
WYETH 5.95% BDS 01/APR/2037 USD2000
         70,000 
Units
78,761 
XTO ENERGY INC SR NT 6.5% 15/DEC/2018
130,000 
Units
126,219 
W/PUT EURO DOLLAR FUT OPT 98.750DUE 16/MAR/2009
                    (11)
Units
                                (2,888)
W/CALL EURO DOLLAR FUT OPT 97.750DUE 16/MAR/2009
 (16)
Units
(48,200)
W/PUT EURO DOLLAR FUT OPT 97.250DUE 16/MAR/2009
(21)
Units
(394)
W/PUT USA TREAS NTS FUT 10 126.500DUE 20/FEB/2009
 (26)
Units
(70,688)
W/CALL USA TREAS 20/FEB/2009
               (4)
Units
(1,875)
US LONG BOND(CBT) FUTURE MAR09 20/MAR/2009 (USH9)
               (5)
Units
16,875 
2 YEAR T NOTES-CBT FUTURE SH MAR 09 (TUH9)
               (1)
Units
31 
10 YEAR T NOTES-CBT FUTURE SH MAR 09 (TYH9)
          (112)
Units
173,250 
5 YEAR T NOTES-CBT FUTURE LG MAR 09 (FVH9)
           183
Units
(97,219)
MAR 09 EURODOLLAR-CME FUTURE LG EDH9
 44 
Units
(2,200)
90DAY EURO$ FUTR FUTURE JUN09 15/JUN/2009 (EDM9)
9 
Units
(788)
Total Corporate Debt Securities
    
 $                       28,808,270
       
Government Bonds
      
UNITED MEXICAN STATES 6.75% NTS 27/SEP/2034
       257,000 
Units
               275,665 
UNITED STATES OF AMER TREAS STRIP PRIN PMT
         20,000 
Units
                 12,967 
UNITED STATES OF AMER TREAS BONDS 6.25%
       100,000 
Units
               138,751 
USA TREASURY BDS6.375% BDS 15/AUG/2027 USD1000
         90,000 
Units
               133,877 
UNITED STATES OF AMER TREAS NOTES FLT TIPS
       110,000 
Units
               180,237 
UNITED STATES OF AMER TREAS BONDS 2.375% BDS
       660,000 
Units
               753,888 
UNITED STATES TREAS BDS TIPS 02.000% 15/JAN/2026
       290,000 
Units
               301,110 
UNITED STATES OF AMER TREAS NOTES NTS VAR
       540,000 
Units
               589,184 
UNITED STATES TREAS BDS VAR 15/JAN/2028
       130,000 
Units
               125,299 
UNITED STATES OF AMER TREAS NOTES 2.625%
         40,000 
Units
                 43,357 
UNITED STATES OF AMER TREAS BONDS 1.25% TB
       210,000 
Units
               212,486 
US Treasury Note – 4.625%, 2/28.2008 (912828EY)
8,665,000 
Units
8,675,154 
Total Government Bonds
    
$                       11,441,975 
         
Mortgage Backed Securities
        
FANNIE MAE 5.25% 01/AUG/2012
       110,000 
Units
 $
118,348 
FEDERAL AGRIC MTG CORP MNTS B FR 3.875%19/AUG/2011
         70,000 
Units
75,359 
FEDERAL HOME LOAN BANKS 4.875% BDS 18/NOV/2011
       140,000 
Units
153,695 
FEDERAL HOME LOAN MORTGAGE CORP 4.75% NTS
       100,000 
Units
114,257 
FEDERAL HOME LOAN MORTGAGE CORP 5.45% BDS
         20,000 
Units
20,539 
FEDERAL HOME LOAN MTG CORP
         90,000 
Units
88,887 
FEDERAL NATIONAL MORTGAGE ASSOC 5% MBPT
    1,075,558 
Units
1,105,462 
FEDERAL NATIONAL MORTGAGE ASSOC 6% BDS 18/APR/2036
         60,000 
Units
68,258 
FEDERAL NATIONAL MORTGAGE ASSOCIATION 5.0% POOL
       791,306 
Units
813,307 
FEDERAL NATL MTG ASSN PRIN ST PRINPMT 01/FEB/2019
         30,000 
Units
16,941 
FHLMC MORTPASS ARM 01/APR/2037 1N PN# 1N1454
       405,182 
Units
418,154 
FHLMC MORTPASS ARM 01/FEB/2037 1G PN# 1G2628
       370,965 
Units
383,507 
FHLMC MORTPASS ARM 01/SEP/2037 1G PN# 1G2201
       168,671 
Units
174,362 
FHLMCGLD MORTPASS 5.5% 01/JAN/2038 G0 PN# G03696
    1,150,029 
Units
1,183,676 
FHLMCGLD MORTPASS 5.5% 01/NOV/2035 A3 PN# A39803
       231,373 
Units
238,191 
FHLMCGLD MORTPASS 5.5% 01/NOV/2037 G0 PN# G03695
    1,068,810 
Units
1,100,141 
FNMA MORTPASS 5% 01/SEP/2033 CL PN# 738567
    1,045,327 
Units
1,074,390 
FNMA MORTPASS 5.5% 01/FEB/2036 CL PN# 852523
       383,334 
Units
395,170 
FNMA MORTPASS 5.5% 01/JUL/2037 CL PN# 928470
         42,534 
Units
43,845 
FNMA MORTPASS 5.5% 01/JUN/2036 CL PN# 889745
       286,342 
Units
295,541 
FNMA MORTPASS 5.5% 01/JUN/2037 CL PN# 899569
       549,956 
Units
566,906 
FNMA MORTPASS 5.5% 01/NOV/2036 CL PN# 745959
       531,433 
Units
547,842 
FNMA MORTPASS 6.5% 01/AUG/2037 CL PN# 936879
       512,055 
Units
535,202 
FNMA MORTPASS 6.5% 01/NOV/2037 CL PN# 956793
       302,466 
Units
316,139 
Total Mortgage Backed Securities
    
 $
                      9,848,119
         
Registered Investment Companies
        
ABERDEEN INTL EQUITY  CLASS A
             539 
Units
 $
4,963 
ACCESSOR INETNATNL EQUITY PORT INV CL
             548 
Units
5,730 
AIM CHINA FD CL B
             100 
Units
1,075 
AIM CHINA FD CLASS A
               43 
Units
464 
AIM ENERGY CLASS B
             150 
Units
3,444 
AIM ENERGY INVESTOR CLASS
             209 
Units
5,147 
AIM GOLD & PRECIOUS METALS INV CLASS
          5,419 
Units
28,502 
AIM INTERNATIONAL CORE EQUITY INV CL
          5,293 
Units
44,779 
ALLIANCEBER GLOBAL BOND CLASS A
          8,680 
Units
58,679 
ALLIANCEBER INTL VALUE ADVISOR
          1,106 
Units
11,605 
ALLIANZ NFJ DIVIDEND VALUE FD CL D
          3,566 
Units
34,165 
ALLIANZ RCM TECHNOLOGY CL A
             227 
Units
5,320 
ALLIANZ RCM TECHNOLOGY CL D
          1,478 
Units
34,231 
ALPINE DYNAMIC DIVID     FUND
         10,411 
Units
52,576 
ALPINE INTERNATIONAL REAL ESTATE EQUITY Y
          2,362 
Units
26,544 
AMANA MUTUAL FUND TRUST GROWTH
         25,172 
Units
405,519 
AMANA MUTUAL FUND TRUST INCOME
          3,318 
Units
78,012 
AMER CENTURY TARGET MATURITIES TR 2010
             420 
Units
44,174 
AMER CENTURY TARGET MATURITIES TR 2015
             212 
Units
20,574 
AMER CENTURY TARGET MATURITIES TR 2025
          1,122 
Units
80,035 
AMERICAN AMCAP CLASS A
             841 
Units
10,154 
AMERICAN BALANCED CL R5
          1,639 
Units
22,607 
AMERICAN BALANCED CLASS R3
             237 
Units
3,253 
AMERICAN BEACON BALANCED
          1,844 
Units
17,521 
AMERICAN BEACON ERMG MKTS PLANAHEAD CL
          2,417 
Units
18,107 
AMERICAN BEACON LARGE CAP VALUE PLAN
          4,188 
Units
54,908 
AMERICAN BOND FUND OF AMERICA CL R3
          5,635 
Units
60,638 
AMERICAN BOND FUND OF AMERICA CLASS F1
          3,837 
Units
41,289 
AMERICAN CAPITAL INCOME BUILDER CL A
          2,510 
Units
104,256 
AMERICAN CAPITAL INCOME BUILDER CL F1
             350 
Units
14,542 
AMERICAN CAPITAL INCOME BUILDER CL R3
             235 
Units
9,741 
AMERICAN CAPITAL INCOME BUILDER R5
             545 
Units
22,618 
AMERICAN CAPITAL WOR LD BOND FD R5
          4,679 
Units
88,250 
AMERICAN CAPITAL WORLD BOND CLASS F1
             633 
Units
11,872 
AMERICAN CAPITAL WORLD GRTH & INC A
          1,026 
Units
27,268 
AMERICAN CAPITAL WORLD GRWTH & INC R5
          1,043 
Units
27,714 
AMERICAN CASH MGT TR AMER SH BEN INT CL A
         12,623 
Units
12,623 
AMERICAN CENTURY CAPITAL PRESERVATION
       252,958 
Units
252,958 
AMERICAN CENTURY CAPITAL VAL INV SHR
          2,131 
Units
10,056 
AMERICAN CENTURY EMERGING MARKETS INV
         14,725 
Units
66,704 
AMERICAN CENTURY EQUITY GROWTH
          1,529 
Units
23,784 
AMERICAN CENTURY EQUITY INCOME
         22,283 
Units
134,141 
AMERICAN CENTURY GLOBAL GOLD
          7,693 
Units
109,476 
AMERICAN CENTURY HERITAGE
          3,393 
Units
39,600 
AMERICAN CENTURY INFLATION ADJ TREAS
          5,870 
Units
61,987 
AMERICAN CENTURY INTERNATIONAL BOND
          5,527 
Units
77,981 
AMERICAN CENTURY MID CAP VALUE INV SHS
             382 
Units
3,205 
AMERICAN CENTURY NEW OPP II CL C
          4,802 
Units
23,912 
AMERICAN CENTURY ONE CHOICE VERY AGGR INV
             237 
Units
1,947 
AMERICAN CENTURY REAL ESTATE
             421 
Units
4,914 
AMERICAN CENTURY TAX FREE BOND
             310 
Units
3,193 
AMERICAN CENTURY UTILITIES
          3,327 
Units
41,815 
AMERICAN CENTURY VISTA
          6,149 
Units
68,066 
AMERICAN EUROPACIFIC GROWTH CL R5
             704 
Units
19,663 
AMERICAN EUROPACIFIC GROWTH CLASS A
             352 
Units
9,859 
AMERICAN EUROPACIFIC GROWTH CLASS F1
             186 
Units
5,196 
AMERICAN FUNDAMENTAL INVESTORS R5
          3,325 
Units
83,083 
AMERICAN GROWTH FUND OF AMERICA CL R3
             140 
Units
2,834 
AMERICAN GROWTH FUND OF AMERICA CL R5
          7,146 
Units
146,059 
AMERICAN GROWTH FUND OF AMERICA CLASS F1
          2,291 
Units
46,590 
AMERICAN HIGH INCOME  TRUST R3
          3,823 
Units
29,898 
AMERICAN INCOME FUND  OF AMER R1
             272 
Units
3,553 
AMERICAN INCOME FUND  OF AMERICA CLASS A
          5,648 
Units
73,932 
AMERICAN INCOME FUND  OF AMERICA R5
             519 
Units
6,789 
AMERICAN INVESTMENT CO OF AMERICA CL F1
             125 
Units
2,619 
AMERICAN NEW PERSPECTIVE CLASS A
          4,515 
Units
85,242 
AMERICAN NEW WORLD CLASS F1
               81 
Units
2,528 
AMERICAN SMALLCAP WORLD CLASS C
             394 
Units
7,685 
AMERICAN SMALLCAP WORLD CLASS F1
          1,168 
Units
23,953 
AMERICAN WORLD GROWTH INCOME CL R3
          1,036 
Units
27,395 
ANALYTIC SHORT TERM GOVERMENT INSTL
             488 
Units
4,754 
ARIEL FUND
             181 
Units
4,274 
ARTIO GLOBAL EQUITY FUND CL A
             125 
Units
3,310 
ARTIO INTERNATIONAL EQUITY FUND II CL A
          8,457 
Units
83,305 
ARTIO TOTAL RETURN BOND FUND CL A
             811 
Units
10,261 
ARTISAN  OPPORTUNISTIC VALUE
          1,003 
Units
6,428 
ARTISAN INTERNAT’L INVESTOR CLASS
             494 
Units
7,396 
ASTON/TAMRO    ALL CAP FUND CL N
          2,280 
Units
17,873 
BANKS ULTRA SECTOR PRO FUND INVESTOR
               47 
Units
377 
BARON ASSET
          1,479 
Units
52,688 
BARON GROWTH
             433 
Units
13,348 
BARON PARTNERS FUND
          6,374 
Units
77,757 
BASIC MATERIAL ULTRA SEC PRO FD INVESTOR
          1,742 
Units
32,049 
BIOTECHNOLOGY ULTRA SECTOR PRO FD INVS
             126 
Units
6,366 
BLACK ROCK ALL CAP GLOBAL RES PORT CL A
               33 
Units
267 
BLACKROCK EQUITY DIVIDEND FD SRV CL
          1,711 
Units
22,637 
BLACKROCK GLOBAL RESOURCES PORT CL A
             715 
Units
12,853 
BLACKROCK GLOBAL RESOURCES PORT CL C
             699 
Units
9,475 
BLACKROCK HEALTH SCIENCES OPP PRT A
             176 
Units
3,827 
BLACKROCK HIGH YIELD BOND CLASS A
          2,800 
Units
14,198 
BLACKROCK LARGE CAP VALUE FD CL A
             577 
Units
6,803 
BLACKROCK LATIN AMERICA FD CL A
               37 
Units
1,093 
BLACKROCK LATIN AMERICA FD CL C
               43 
Units
1,185 
BLACKROCK NATURAL RESOURCES TR CL A
               84 
Units
2,984 
BRANDYWINE
             317 
Units
6,391 
BRANDYWINE BLUE
          6,389 
Units
126,637 
BRIDGEWAY AGGRESSIVE INVESTOR 2
         11,374 
Units
111,355 
BRIDGEWAY BALANCED PORTFOLIO
             364 
Units
3,552 
BRIDGEWAY LARGE CAP GROWTH CL N
          1,765 
Units
14,313 
BRIDGEWAY SMALL CAP GROWTH CL N
          3,770 
Units
32,496 
BRIDGEWAY SMALL CAP VALUE FUND CL N
             611 
Units
5,697 
BRIDGEWAY ULTRA SMALL CO MARKET
          3,415 
Units
32,891 
BROWN CAPITAL MGMT SMALL COMPANY INST.
          2,306 
Units
56,780 
BUFFALO  SCIENCE & TECHNOLOGY FD
             506 
Units
4,224 
BUFFALO BALANCED FUND
          1,319 
Units
10,740 
BUFFALO MID CAP FUND
          6,288 
Units
57,474 
CAN SLIM SELECT GROWTH FUND
             530 
Units
4,905 
CLIPPER
             577 
Units
23,050 
COHEN & STEERS REALTY SHARES
          1,362 
Units
50,405 
COLUMBIA EMERGING MARKETS CLASS Z
          1,090 
Units
6,902 
COLUMBIA ENERGY AND NATURAL RESOURCES Z
          1,213 
Units
17,110 
COLUMBIA GREATER CHINA FD CL Z
             200 
Units
6,786 
COLUMBIA INTL GROWTH CLASS Z
          1,670 
Units
17,921 
COLUMBIA MARSICO 21ST CENTURY CL Z
             892 
Units
8,266 
COLUMBIA MID CAP CORE FD CL Z
             959 
Units
10,122 
COLUMBIA MID CAP GROWTH CL Z
             752 
Units
10,728 
COLUMBIA MID CAP VALUE PRIMARY Z
          2,099 
Units
17,735 
COLUMBIA SELECT LRG CAP GROWTH CLASS Z
          2,547 
Units
17,750 
COLUMBIA SELECT SMALL CAP CLASS Z
             521 
Units
5,476 
COLUMBIA SMALL CAP GROWTH I CL Z
             520 
Units
9,099 
COLUMBIA SMALL CAP VAL I FD CL Z
          3,217 
Units
98,090 
COLUMBIA SMALL CAP VALUE FD II Z
          1,377 
Units
12,170 
COLUMBIA SMALL CAP VALUE II CL A
             211 
Units
1,857 
COLUMBIA VALUE AND RESTRUCTURING CL Z
          8,298 
Units
245,042 
CONSUMER GOODS ULTRA SECTOR PRO FDS –INV
             487 
Units
11,583 
DAVIS NEW YORK VENTURE INSTL CL Y
          3,458 
Units
82,478 
DELAFIELD FUND INC
          2,482 
Units
37,482 
DIAMOND HILL FINANCIAL LONG/SHT A
             740 
Units
6,276 
DIAMOND HILL LARGE CAP CLASS A
          2,364 
Units
24,751 
DIAMOND HILL LONG SHORT CLASS A
          2,579 
Units
35,663 
DIAMOND HILL LONG SHORT CLASS C
          1,109 
Units
14,723 
DIREXION CHINA BULL 2X FUND INVESTOR
             654 
Units
18,748 
DIREXION DOLLAR BEAR 2.5X FD INVT CL
             501 
Units
10,180 
DIREXION EMERGING MKTS BEAR 2X INVST
             835 
Units
6,912 
DIREXION LATIN  AMERICA BULL 2X INV
             580 
Units
11,288 
DIREXION NASDAQ 100 BEAR 2.5X FD INVT
             450 
Units
9,194 
DIREXION S&P 500 BEAR 2.5X INVT
             400 
Units
9,048 
DIREXION SMALL CAP BEAR 2.5X INV CL
          3,393 
Units
24,499 
DODGE & COX BALANCE
               72 
Units
3,687 
DODGE & COX GLOBAL STOCK FUND
          1,384 
Units
7,391 
DODGE & COX INCOME
          6,297 
Units
74,237 
DODGE & COX INTERNATL STOCK FUND
         24,084 
Units
527,436 
DODGE & COX STOCK
             525 
Units
39,031 
DREYFUS      S&P 500 STOCK INDEX FUND
             102 
Units
1,877 
DREYFUS GREATER CHINA CL C
          1,846 
Units
35,996 
DREYFUS GREATER CHINA CL I
          2,989 
Units
64,393 
DREYFUS S&P STARS OPPR CL T
             129 
Units
1,953 
DWS CORE FIXED INCOME CLASS S
          8,902 
Units
77,451 
DWS GLOBAL BOND CLASS S
             847 
Units
8,474 
DWS GLOBAL OPPORTUNITIES CL S
          1,113 
Units
24,025 
DWS GLOBAL THEMATIC CL S
          1,490 
Units
22,155 
DWS GOLD & PRECIOUS METALS CL S
             601 
Units
8,316 
EATON VANCE GREATER INDIA FUND CLASS B
               88 
Units
966 
EATON VANCE TAX MNGD EMERGING MKTS INSTL
          1,820 
Units
46,109 
EMBARCADERO ALL-CAP GROWTH
          1,072 
Units
4,084 
EMBARCADERO SMALL CAP GROWTH
          2,353 
Units
4,305 
EVERGREEN EMERG MKTS GROWTH FUND CLASS C
             965 
Units
9,139 
EVERGREEN GLOBAL OPPORTUNITIES CL C
             499 
Units
8,649 
EVERGREEN PRECIOUS METALS CLASS A
               17 
Units
817 
FAIRHOLME FUND
         23,913 
Units
522,257 
FALLING US DOLLAR PRO FUND INV CLASS
          1,672 
Units
44,333 
FAM VALUE
             216 
Units
6,947 
FBR FOCUS FUND
          1,188 
Units
36,503 
FBR LARGE CAP FINANCIAL
             107 
Units
1,051 
FBR SMALL CAP FINANCIAL
          2,882 
Units
41,189 
FEDERATED BOND CLASS F
          7,362 
Units
54,699 
FEDERATED HIGH YIELD INSTL FUND
          6,718 
Units
25,729 
FEDERATED PRUDENT BEAR FUND CLASS A
             295 
Units
1,976 
FEDERATED PRUDENT GLOBAL INC FD A
             570 
Units
6,861 
FEDERATED US GOVT SECS 2-5 YR INSTL FD
          5,798 
Units
70,102 
FIDELITY ADVISOR EMERGING ASIA CL I
             930 
Units
15,744 
FIDELITY ADVISOR FOCUS ENERGY CL I
             109 
Units
2,327 
FIDELITY ADVISOR HIGH INCOME ADV CL I
             164 
Units
892 
FIDELITY ADVISOR LEVERGED CO STK CL I
          1,559 
Units
27,433 
FIDELITY ADVISOR NEW  INSIGHTS CL I
             304 
Units
4,102 
FIDELITY BALANCED
          1,045 
Units
13,716 
FIDELITY BLUE CHIP GROWTH
             292 
Units
7,685 
FIDELITY CANADA
          4,679 
Units
164,047 
FIDELITY CAPITAL & INCOME
         13,391 
Units
73,115 
FIDELITY CAPITAL APPRECIATION
             545 
Units
8,577 
FIDELITY CASH RESERVES
         40,286 
Units
40,286 
FIDELITY CHINA REGION
          8,341 
Units
141,873 
FIDELITY CONTRAFUND
               44 
Units
2,000 
FIDELITY DISCIPLINED EQUITY
             272 
Units
4,728 
FIDELITY EMERGING MARKETS
          8,149 
Units
105,852 
FIDELITY EQUITY INCOME
             253 
Units
7,819 
FIDELITY EUROPE
          1,112 
Units
25,332 
FIDELITY EUROPE CAPITAL APPRECIATION
             265 
Units
3,618 
FIDELITY EXPORT & MULTINATIONAL
             666 
Units
9,596 
FIDELITY FLOATING   RATE HIGH INCOME
         11,226 
Units
85,096 
FIDELITY FREEDOM 2020
          3,007 
Units
30,224 
FIDELITY GINNIE MAE
             946 
Units
10,548 
FIDELITY HIGH INCOME
             692 
Units
4,180 
FIDELITY INT’L DISCOVERY
          1,379 
Units
32,580 
FIDELITY INTL SMALL CAP OPP FUND
             282 
Units
1,691 
FIDELITY LATIN AMERICA
          1,373 
Units
37,911 
FIDELITY LEVERAGED COMPANY STOCK
         12,530 
Units
180,928 
FIDELITY LOW PRICED STOCK
             177 
Units
4,088 
FIDELITY NEW MARKETS INCOME
             362 
Units
4,063 
FIDELITY NORDIC
             419 
Units
7,874 
FIDELITY OVERSEAS
             294 
Units
7,366 
FIDELITY PURITAN
          5,801 
Units
75,755 
FIDELITY REAL ESTATE INVESTMENT
          1,446 
Units
22,570 
FIDELITY SELECT CHEMICALS
             589 
Units
27,195 
FIDELITY SELECT COMPUTERS
             101 
Units
2,518 
FIDELITY SELECT CONSTRUCTN & HOUSING
             367 
Units
8,771 
FIDELITY SELECT CONSUMER STPLES PORT
             922 
Units
47,006 
FIDELITY SELECT DEFENSE & AEROSPACE
             523 
Units
25,734 
FIDELITY SELECT ENERGY
          1,309 
Units
39,382 
FIDELITY SELECT ENERGY SERVICE
          1,610 
Units
57,826 
FIDELITY SELECT ENVIRONMENTAL SVCS
             844 
Units
11,295 
FIDELITY SELECT GOLD
             848 
Units
26,779 
FIDELITY SELECT INDUSTRIAL EQUIPMENT
             659 
Units
12,205 
FIDELITY SELECT INDUSTRIALS PORT
             784 
Units
10,302 
FIDELITY SELECT LEISURE
             247 
Units
13,316 
FIDELITY SELECT MATERIALS PORTFOLIO
          1,381 
Units
42,052 
FIDELITY SELECT MEDICAL DELIVERY
               10 
Units
297 
FIDELITY SELECT MEDICAL EQUIP&SYSTEM
          1,421 
Units
26,209 
FIDELITY SELECT NATURAL GAS
          3,301 
Units
66,588 
FIDELITY SELECT NATURAL RESOURCES
          1,697 
Units
31,960 
FIDELITY SELECT SOFTWARE & COMPUTER
             129 
Units
6,055 
FIDELITY SELECT TECHNOLOGY
               79 
Units
3,148 
FIDELITY SELECT TRANSPORT
             143 
Units
4,616 
FIDELITY SELECT UTILITIES GROWTH
             204 
Units
8,197 
FIDELITY SMALL CAP VALUE
             837 
Units
7,797 
FIDELITY SOUTHEAST ASIA
          5,538 
Units
104,499 
FIDELITY STRATEGIC INCOME
          9,652 
Units
84,164 
FIDELITY STRATEGIC REAL RETURN
             777 
Units
5,333 
FIDELITY US TREASURY MONEY MARKET
         52,660 
Units
52,660 
FIDELITY VALUE
             174 
Units
6,935 
FIRST EAGLE GLOBAL  CLASS A
             105 
Units
3,469 
FIRST EAGLE OVERSEAS CLASS C
             736 
Units
12,005 
FIRSTHAND ALTERNATIVE ENERGY
          1,514 
Units
8,597 
FMI COMMON STOCK
          1,801 
Units
28,666 
FMI LARGE CAP FUND
          3,786 
Units
41,803 
FMI PROVIDENT TRUST STRATEGY FUND
          9,339 
Units
56,969 
FORWARD INTERNTL SMALL CO INVESTOR CL
          1,030 
Units
9,791 
FORWARD SMALL CAP EQUITY INV CL
          2,874 
Units
34,435 
FPA CRESCENT INSTL
             701 
Units
13,729 
FPA NEW INCOME
          2,566 
Units
28,127 
FRANKLIN GOLD AND PRECIOUS METALS CL C
             167 
Units
4,049 
FRANKLIN INCOME CLASS C
         12,484 
Units
20,973 
FRANKLIN STRATEGIC INCOME C
          4,485 
Units
37,492 
GABELLI ASSET FUND
          1,197 
Units
37,106 
GABELLI EQUITY INCOME FUND
             857 
Units
12,120 
GABELLI UTILITIES
             598 
Units
3,846 
GAMCO GOLD FUND
          2,259 
Units
45,249 
GAMCO WESTWOOD BALANCED FD CL AAA
               88 
Units
811 
GLOBAL EMERGING MARKETS
          1,005 
Units
5,315 
GOLDMAN SACHS ASSET ALLOC GRWTH STRAT A
         11,112 
Units
87,452 
GOLDMAN SACHS BRIC FD CL C
               66 
Units
464 
GOLDMAN SACHS COMMODITY STRAT FD A
             433 
Units
2,342 
GREENSPRING FUND
             660 
Units
13,440 
GUINNESS ATKINSON ALTERNATIVE ENERGY
          1,171 
Units
6,019 
GUINNESS ATKINSON ASIA PACIFIC DIV
          1,028 
Units
7,197 
GUINNESS ATKINSON GLOBAL ENERGY
          2,638 
Units
41,368 
HARBOR BOND INST
         14,943 
Units
168,855 
HARBOR CAPITAL APPRECIATION INV CL
          2,495 
Units
57,689 
HARBOR INTERNATIONAL GROWTH INV CLASS
          2,904 
Units
23,551 
HARBOR INTERNATIONAL INSTITUTIONAL FD
          1,647 
Units
66,081 
HARBOR INTERNATIONAL INVESTOR SHARES
          2,916 
Units
121,154 
HARDING LOEVNER EMERGING MKT PORT
             653 
Units
17,226 
HARTFORD CAPITAL APPRECIATION CL A
          2,436 
Units
52,319 
HARTFORD CAPITAL APPRECIATION CL B
             137 
Units
2,638 
HARTFORD CAPITAL APPRECIATION CL C
             735 
Units
14,200 
HARTFORD GLOBAL HEALTH CL C
          1,252 
Units
14,052 
HEARTLAND SELECT VALUE
          1,869 
Units
33,777 
HEARTLAND VALUE
             157 
Units
3,921 
HEARTLAND VALUE PLUS
          2,398 
Units
44,846 
HENNESSY BALANCED
             427 
Units
3,643 
HENNESSY CORNERSTONE GROWTH
             514 
Units
4,498 
HODGES FUND
             532 
Units
7,277 
ICON ENERGY
          2,476 
Units
35,310 
ICON FINANCIAL FUND
             494 
Units
2,700 
ICON HEALTHCARE
          1,700 
Units
19,273 
ICON MATERIALS
          2,469 
Units
16,569 
ING CORPORATE LEADER  TRUST
          2,633 
Units
42,415 
ING REAL ESTATE FUND  CLASS C
             103 
Units
932 
IVY GLOBAL NATURAL RESOURCES CLASS B
               51 
Units
488 
IVY INTERNATIONAL GROWTH FUND CL Y
             164 
Units
3,689 
JAMES ADVANTAGE SMALL CAP
          2,309 
Units
32,367 
JAMES BALANCED: GOLDEN RAINBOW FUND
          5,552 
Units
94,772 
JANUS ADVISER FORTY CL S
             585 
Units
12,846 
JANUS ADVISER LONG/SHORT CL C
             786 
Units
7,491 
JANUS ADVISER ORION CL R
             618 
Units
5,082 
JANUS BALANCED
             157 
Units
3,142 
JANUS CONTRARIAN FUND
         22,524 
Units
216,909 
JANUS MID CAP VALUE INVST SHS
         22,944 
Units
350,582 
JANUS ORION FUND
         12,333 
Units
79,797 
JANUS OVERSEAS
         10,626 
Units
256,087 
JENNISON NATURAL RESOURCES FD CL Z
             639 
Units
17,268 
JENNISON UTILITY CL C
          1,245 
Units
9,151 
JENSEN PORTFOLIO CLASS J
          4,213 
Units
81,062 
JORDAN OPPORTUNITY FUND
          1,445 
Units
10,942 
JPMORGAN 100% US TREAS MMKT MORGAN
       680,480 
Units
680,480 
JPMORGAN CAPITAL GROWTH CL A
               31 
Units
722 
JPMORGAN EMERGING MARKETS DEBT SELECT
          1,315 
Units
7,429 
JPMORGAN EMERGING MARKETS EQUITY CL A
          4,436 
Units
54,743 
JPMORGAN INTERNATL EQUITY INDEX CL A
          1,210 
Units
17,264 
JPMORGAN INTERNATL VALUE FUND CLASS A
          5,807 
Units
58,071 
JPMORGAN INTERNTL EQUITY FUND CLASS A
             756 
Units
7,506 
JPMORGAN INTREPID EUROPEAN CLASS A
          2,155 
Units
29,844 
JPMORGAN US GOVT MM KT MORGAN SHS
       830,621 
Units
830,621 
JPMORGAN US REAL ESTATE CLASS A
             499 
Units
5,047 
JPMORGAN VALUE OPPORTUNITIES CL A
               67 
Units
671 
KEELEY SMALL CAP VALUE CLASS A
          1,404 
Units
22,915 
KINETICS PARADIGM FUND
          1,688 
Units
24,365 
LAZARD EMERGING MKTS OPEN CLASS
          7,280 
Units
80,444 
LEGG MASON PRTN GLOB  HI YIELD BOND CL C
             489 
Units
2,426 
LEUTHOLD ASSET ALLOCATION FD
          9,797 
Units
74,460 
LONGLEAF PARTNERS
             746 
Units
11,709 
LOOMIS SAYLES BOND RETAIL SHARES
         48,413 
Units
501,073 
LOOMIS SAYLES GLOBAL  BOND RETAIL
          2,461 
Units
32,929 
LOOMIS SAYLES SMALL CAP VALUE RETAIL
             496 
Units
8,204 
MAINSTAY ICAP INTERNATIONAL FD I
             229 
Units
5,215 
MAINSTAY ICAP SELECT EQUITY FD CL I
          8,997 
Units
214,216 
MANAGERS BOND
          8,356 
Units
164,204 
MANAGERS FREMONT  BOND FUND
          3,242 
Units
30,474 
MANNING & NAPIER EQUITY SERIES
          1,334 
Units
16,238 
MARSICO 21ST CENTURY FUND
         32,088 
Units
305,480 
MARSICO FOCUS
          5,550 
Units
65,162 
MARSICO GLOBAL FUND
             917 
Units
6,173 
MARSICO GROWTH FUND
          6,033 
Units
76,133 
MARSICO INTERNAT’L OPPORTUNITIES
          3,137 
Units
27,419 
MATTHEWS ASIAN TECHNOLOGY FUND
          3,007 
Units
14,162 
MATTHEWS CHINA FUND
             701 
Units
10,047 
MATTHEWS INDIA FUND
          2,098 
Units
17,562 
MATTHEWS KOREA FUND
          2,358 
Units
6,483 
MERGER FUND
             214 
Units
3,064 
MERIDIAN GROWTH FUND
             435 
Units
10,913 
MERIDIAN VALUE FUND
          2,326 
Units
47,449 
MERK ASIAN CURRENCY  FUND – INVESTOR
          2,495 
Units
23,927 
MERK HARD CURRENCY FUND INVESTOR CL
          5,287 
Units
56,253 
METZLER PAYDEN EURO EMERGING MKTS CL
             845 
Units
10,702 
MFS SECTOR ROTATIONAL CL C
          4,403 
Units
50,634 
MIDAS FUND
          1,730 
Units
3,668 
MOBILE TELCOMM ULTRA SECTOR PRO FD INVSTR
             299 
Units
442 
MUHLENKAMP FUND
          2,240 
Units
86,452 
MUTUAL SERIES DISCOVERY CLASS Z
          4,091 
Units
92,218 
MUTUAL SERIES EUROPEAN CLASS Z
          1,269 
Units
21,887 
MUTUAL SERIES FINCL SERVICES CLASS C
             385 
Units
4,159 
MUTUAL SERIES FINCL SERVICES CLASS Z
             211 
Units
2,275 
MUTUAL SERIES MUTUAL BEACON CLASS C
          3,202 
Units
28,303 
MUTUAL SERIES SHARES CLASS Z
             104 
Units
1,596 
NEUBERGER BERMAN INT’L INVESTOR CLASS
             138 
Units
1,515 
NEUBERGER BERMAN INT’L TRUST CLASS
          1,265 
Units
15,367 
NEUBERGER BERMAN PARTNERS INVESTOR
          4,965 
Units
76,458 
NEUBERGER BERMAN REAL ESTATE TRUST CL
             115 
Units
823 
NEUBERGER BERMAN REGENCY INVESTOR
             623 
Units
5,221 
NEUBERGER BERMAN REGENCY TRUST CLASS
             635
Units
4,643 
NEW ALTERNATIVES FD
             282 
Units
8,871 
NICHOLAS II INC CLASS N
          1,352 
Units
18,487 
NORTHERN GLOBAL FIXED INCOME
               48 
Units
573 
NORTHERN GLOBAL REAL ESTATE INDEX FD
             419 
Units
2,251 
NORTHERN SMALL CAP VALUE
             587 
Units
6,179 
OAKMARK FUND I
             268 
Units
6,895 
OAKMARK INTERNAT’L SMALL CAP I
             740 
Units
5,325 
OAKMARK SELECT I
          7,403 
Units
118,300 
OBERWEIS CHINA OPPORTUNITIES FUND
          5,731 
Units
43,041 
OBERWEIS MICRO CAP FUND
               83 
Units
574 
OIL & GAS ULTRA SECT PRO FDS –INVESTOR
          1,682 
Units
43,560 
OIL EQUIPMENT SCVS &  DIST ULTRA INVT CL
             999 
Units
8,897 
OPPENHEIMER COMMOD STRA TOT RETURN CL A
             682 
Units
2,122 
OPPENHEIMER GOLD & SPL MINERALS CL N
             415 
Units
8,281 
OPPENHEIMER GOLD & SPEC MINERALS CL A
             134 
Units
2,744 
OPPENHEIMER GOLD & SPEC MINERALS CL C
             152 
Units
2,983 
OPPENHEIMER INTERNAT’L BD CL N
          2,595 
Units
15,310 
PARNASSUS EQUITY INCOME PORTFOLIO
          3,056 
Units
58,949 
PARNASSUS FIXED INCOME FUND
          1,556 
Units
25,186 
PERMANENT PORTFOLIO FAMILY OF FDS
          4,300 
Units
140,640 
PERRITT EMERGING OPPORTUNITIES FUND
          1,464 
Units
7,966 
PIMCO COMMODITY REAL  RETURN CL D
         12,152 
Units
76,924 
PIMCO DEVELOPING LOCAL MKTS D
          3,804 
Units
32,182 
PIMCO EMERGING LOCAL BOND FUND CL D
             588 
Units
4,835 
PIMCO GNMA FUND CLASS D
          1,609 
Units
17,864 
PIMCO REAL ESTATE REAL RETURN CL D
          2,261 
Units
6,603 
PIMCO REAL RETURN CLASS C
          1,997 
Units
18,868 
PIMCO REAL RETURN CLASS D
          5,549 
Units
52,440 
PIMCO STOCKS PLUS CLASS D
          1,013 
Units
5,479 
PIMCO TOTAL RETURN CLASS A
             801 
Units
8,123 
PIMCO TOTAL RETURN CLASS D
         74,160 
Units
768,119 
PIMCO TOTAL RETURN INSTL
         10,956 
Units
111,096 
POLARIS GLOBAL VALUE
          1,004 
Units
8,695 
PRECIOUS METALS ULTRA SEC PRO INVST
          4,240 
Units
92,814 
PRECIOUS METALS ULTRA SECTOR PRO SVC
             540 
Units
11,388 
PRIMECAP ODYSSEY AGG RESSIVE GROWTH FUND
             623 
Units
5,794 
PUTNAM GLOBAL NATURAL RESOURCE C
          1,134 
Units
14,018 
QUAKER STRATEGIC GROWTH CLASS A
             380 
Units
4,728 
QUANT FOREIGN VALUE FUND ORDINARY SHS
             612 
Units
5,835 
QUANTITATIVE EMRG MKTS FD-ORDINARY SHS
          1,901 
Units
23,423 
RAINIER LARGE CAP EQUITY PORTFOLIO
          2,240 
Units
39,509 
RAINIER MID CAP EQ PORTFOLIO
          2,355 
Units
55,607 
REAL ESTATE ULTRA SECTOR PRO FD INVSTR
          1,678 
Units
21,711 
RICE HALL JAMES MICRO CAP PORT INSTL
             987 
Units
10,250 
RISING RATES OPPTY PRO FUND INVESTOR
          6,534 
Units
73,049 
RISING US DOLLAR PRO FUND INV CLASS
             259 
Units
7,621 
ROBECO SAM SUSTAIN WATER – INVESTOR
          4,698 
Units
26,166 
ROYCE MICROCAP INVESTMENT CLASS
             689 
Units
6,156 
ROYCE OPPORTUNITY FUND INVEST CLASS
          8,117 
Units
45,210 
ROYCE PENNSYLVANIA MUTUAL INVST CLASS
         14,918 
Units
103,528 
ROYCE SPECIAL EQUITY INVESTMENT CL
          1,499 
Units
20,515 
ROYCE TOTAL RETURN FD INVESTMENT CL
          5,756 
Units
50,074 
ROYCE VALUE FUND SERVICE CL
          6,380 
Units
44,661 
ROYCE VALUE PLUS SERVICE    CLASS
         36,052 
Units
286,611 
RS GLOBAL NATURAL RESOURCES CL A
             280 
Units
5,622 
RS VALUE FUND CL A
          1,512 
Units
22,672 
RYDEX BIOTECHNOLOGY INV CLASS
             113 
Units
2,339 
RYDEX COMMODITIES STRATEGY CL A
             235 
Units
3,619 
RYDEX GOVT LONG BOND 1.2X STRATEGY ADV CL
             227 
Units
3,722 
RYDEX INVERSE GOVT LONG BOND STRAT INV
             241 
Units
2,998 
RYDEX INVERSE NASDAQ  1002X CL H
             564 
Units
12,347 
RYDEX INVERSE S&P 500 2X STRATEGY CL H
             116 
Units
5,562 
RYDEX INVERSE S&P 500 STRATEGY INV CL
          9,635 
Units
484,812 
RYDEX NASDAQ 100 INV  CLASS
          5,121 
Units
41,070 
RYDEX PRECIOUS METALS INVESTOR CL
             891 
Units
37,536 
RYDEX S&P 500 2X STRATEGY CL H
          1,318 
Units
19,908
SARATOGA ENERGY & BASIC MATERIAL CL A
               30 
Units
252 
SCHNEIDER SMALL CAP VALUE FUND
          1,220 
Units
10,892 
SCHNEIDER VALUE FUND
          3,041 
Units
27,950 
SCHWAB HEALTH CARE FUND
             605 
Units
7,436 
SELECTED AMERICAN SHARES CL D
          1,594 
Units
45,419 
SELECTED AMERICAN SHARES CL S
          2,656 
Units
75,809 
SEMICONDUCTOR ULTRA SECTOR PRO FD INVSTR
          2,657 
Units
16,130 
SENTINEL MID CAP VALUE CL C
             592 
Units
4,972 
SEXTANT INTRNATIONAL FUND
          8,521 
Units
98,753 
SOUND MIND INVESTING FUND
         15,045 
Units
109,224 
SOUND SHORE FD INC
             829 
Units
18,861 
SPARTAN 500 INDEX INVESTOR CLASS
             604 
Units
37,488 
SPARTAN INTL INDEX INVESTOR CLASS
         11,153 
Units
298,240 
SSGA EMERGING MARKETS
          1,903 
Units
21,909 
SSGA INTERNATIONAL STOCK SELECTION
         10,689 
Units
85,937 
SSGA TUCKERMAN ACTIVE REIT
          2,112 
Units
15,545 
STRATTON SMALL CAP VALUE FUND
          2,871 
Units
98,326 
T ROWE PRICE BLUE CHIP GROWTH ADV CL
             285 
Units
6,576 
T ROWE PRICE BLUE CHIP GROWTH INC
          9,529 
Units
219,272 
T ROWE PRICE CAP APPRECIATION
         11,012 
Units
153,621 
T ROWE PRICE CAPITAL APPRECIATION ADV CL
          2,005 
Units
27,855 
T ROWE PRICE EMERGING MKTS STOCK
          8,210 
Units
134,150 
T ROWE PRICE EQUITY INCOME
          7,146 
Units
122,046 
T ROWE PRICE EQUITY INCOME ADVISOR CL
             194 
Units
3,304 
T ROWE PRICE EQUITY INDEX TR FD
             147 
Units
3,556 
T ROWE PRICE EXTEND EQU MKT INDEX FUND
          1,349 
Units
12,773 
T ROWE PRICE FINANCIAL SERVICES
             608 
Units
6,053 
T ROWE PRICE GLOBAL STOCK
          2,545 
Units
28,656 
T ROWE PRICE GROWTH STOCK
          5,077 
Units
97,686 
T ROWE PRICE GROWTH STOCK ADVISOR CL
             406 
Units
7,768 
T ROWE PRICE HEALTH SCIENCES
          3,122 
Units
61,815 
T ROWE PRICE INFLATION PROT BD FD
             289 
Units
3,081 
T ROWE PRICE INTERNATIONAL BOND
          4,930 
Units
47,182 
T ROWE PRICE INTL DISCOVERY FUND
             984 
Units
23,697 
T ROWE PRICE INTL EQUITY INDEX
          1,908 
Units
16,672 
T ROWE PRICE INT’L GROWTH & INCOME
             313 
Units
2,937 
T ROWE PRICE LATIN AMERICA FUND
          6,651 
Units
151,175 
T ROWE PRICE MEDIA & TELECOMMUNICATIONS
             374 
Units
9,210 
T ROWE PRICE NEW ASIA
          6,393 
Units
51,275 
T ROWE PRICE NEW ERA
             451 
Units
13,353 
T ROWE PRICE NEW HORIZONS FD INC
         20,586 
Units
366,218 
T ROWE PRICE PERSONAL STRAT GRWTH
             134 
Units
1,994 
T ROWE PRICE REAL ESTATE FUND
          1,459 
Units
16,238 
T ROWE PRICE RET 2040 FD
             647 
Units
7,165 
T ROWE PRICE SMALL CAP VALUE  FUND
             291 
Units
6,838 
T ROWE PRICE SPECTRUM INCOME
          1,714 
Units
17,701 
T ROWE PRICE US TREASURY LONG TERM
          5,669 
Units
77,948 
T ROWE PRICE VALUE
             267 
Units
4,043 
TAMARACK MICROCAP VALUE CL S
          2,939 
Units
30,742 
TCW  TOTAL RETURN BOND CLASS I
             888 
Units
8,081 
TELECOMM ULTRA SECTOR PRO FD INVSTR
             583 
Units
6,317 
TEMPLETON BRIC FD CL  C
          1,492 
Units
10,549 
TEMPLETON GLOBAL BOND ADVISOR CLASS
             879 
Units
9,816 
TEMPLETON GROWTH CLASS R
             448 
Units
5,801 
THIRD AVENUE INTL VALUE
          1,405 
Units
16,266 
THIRD AVENUE VALUE
          3,373 
Units
110,830 
THIRD MILLENNIUM RUSSIA
             162 
Units
1,513 
THORNBURG INTL VALUE CL A
          1,441 
Units
27,439 
THORNBURG INTL VALUE CL INSTL
          1,741 
Units
33,839 
TIAA-CREF INSTL LRG CAP VALUE –RETAIL
             204 
Units
1,722 
TIAA-CREF INSTL MID CAP VALUE –RETAIL
          3,782 
Units
39,260 
TIAA-CREF INSTL REAL ESTATE SEC – RETAIL
          4,243 
Units
27,497 
TOCQUEVILLE FUND
          1,258 
Units
19,459 
TOCQUEVILLE GOLD FUND
          1,975 
Units
60,929 
TRANSAMERICA PREMIER EQUITY
          4,371 
Units
60,753 
T-ROWE PRICE EMERG EURO & MEDITERRANEAN
          5,271 
Units
41,117 
TURNER NEW ENTERPRISE INV CL
          5,038 
Units
19,546 
TWEEDY BROWNE GLOBAL  VALUE FUND
          1,714 
Units
26,769 
ULTRA BEAR PRO FUND INVESTORS SHARES
             687 
Units
14,356 
ULTRA CHINA PRO FUND – INVESTOR CLASS
          6,795 
Units
37,033 
ULTRA DOW 30 PRO FUND INVESTOR
          1,842 
Units
30,205 
ULTRA EMERGING MRKTS PRO FD INVT CL
          3,091 
Units
21,790 
ULTRA INTERNATIONAL PRO FD
          1,218 
Units
11,121 
ULTRA JAPAN PRO FUND INVESTORS SHS
          2,595 
Units
23,696 
ULTRA JAPAN PRO FUND SERVICE SHARES
          1,290 
Units
11,174 
ULTRA MID CAP    PRO FUND INVESTOR SHS
          1,243 
Units
20,383 
ULTRA NASDAQ-100 PRO  FUND INVESTOR CLASS
          3,362 
Units
30,321 
ULTRA NASDAQ-100 PRO  FUND SERVICE CLASS
          1,385 
Units
11,371 
ULTRA SHORT CHINA PRO FUND – SERVICE
             262 
Units
9,102 
ULTRA SHORT INTL PRO FD INVT CL
             142 
Units
3,993 
UMB SCOUT BOND
               89 
Units
999 
UMB SCOUT INTERNATIONAL
          1,373 
Units
29,927 
UMB SCOUT SMALL CAP
          1,454 
Units
15,337 
UMB SCOUT STOCK
          7,000 
Units
71,258 
US GLOBAL INVESTORS CHINA REGION FD
          4,191 
Units
23,427 
US GLOBAL REGION EAST EUROPEAN
          1,734 
Units
8,878 
US GLOBAL RESOURCES
         24,754 
Units
130,205 
US GOLD AND PRECIOUS METALS
         16,426 
Units
177,897 
US WORLD PRECIOUS MINERALS
         40,561 
Units
387,768 
UTILITIES ULTRA SECTOR PRO FUND INV
          1,019 
Units
15,290 
VALUE LINE
               94 
Units
585 
VALUE LINE EMERGING OPPORTUNITY
          1,471 
Units
30,583 
VALUE LINE INCOME
             579 
Units
3,702 
VALUE LINE PREMIER GROWTH FUND
          1,486 
Units
24,795 
VAN ECK EMERGING MARKETS CL C
          4,064 
Units
18,980 
VAN KAMPEN ASSETT ALLOCATION CONV A
             521 
Units
4,191 
VAN KAMPEN COMSTOCK CLASS C
          2,035 
Units
22,104 
VAN KAMPEN REAL ESTATE SEC CLASS C
          1,355 
Units
15,226 
VANGUARD 500 INDEX FD INVESTOR SHS
          5,439 
Units
451,923 
VANGUARD ASSET ALLOCATION
          5,001 
Units
93,015 
VANGUARD BOND INDEX TOTAL MARKET
          6,650 
Units
67,702 
VANGUARD EMERGING MARKETS STOCK INDEX
          1,254 
Units
18,678 
VANGUARD ENERGY
          1,964 
Units
86,654 
VANGUARD FINANCIALS INDEX ADMIRAL SHRS
         14,231 
Units
183,859 
VANGUARD GLOBAL EQUITY
             907 
Units
10,924 
VANGUARD GNMA
             683 
Units
7,228 
VANGUARD GROWTH INDEX
             112 
Units
2,275 
VANGUARD INDEX TRUST SMALL CAP GROWTH
          1,166 
Units
13,874 
VANGUARD INFLATION PROTECTED SECS
         14,747 
Units
169,882 
VANGUARD INTERMED TERM
          1,597 
Units
19,328 
VANGUARD INTERMED TRM INVST GR INVEST
         10,066 
Units
87,071 
VANGUARD INTERNATL VALUE PORTFOLIO
             251 
Units
5,880 
VANGUARD INTER-TERM BOND INDEX PORT
          1,456 
Units
15,293 
VANGUARD INT’L GROWTH PORTFOLIO
          1,142 
Units
13,928 
VANGUARD LARGE CAP INDEX INV CLASS SH
             265 
Units
4,347 
VANGUARD LIFE STRATEGY GRWTH PORT
             623 
Units
9,964 
VANGUARD LONG TERM INVMT GRADE INV
          1,489 
Units
12,982 
VANGUARD LONG TERM US TREASURY
             699 
Units
9,351 
VANGUARD LONG-TERM BOND INDEX PORT
          2,558 
Units
30,665 
VANGUARD MID CAP GRWTH INDX CL INVES
             235 
Units
3,155 
VANGUARD MID CAP INDEX
          2,355 
Units
27,788 
VANGUARD REIT INDEX FUND
             494 
Units
5,988 
VANGUARD SHORT TERM INVMT GRADE ADMIRAL
          9,425 
Units
91,140 
VANGUARD SHORT TERM INVMT GRADE INVESTOR
             413 
Units
3,996 
VANGUARD SHORT TERM TREASURY
             314 
Units
3,433 
VANGUARD SMALL CAP STOCK INDEX TRUST
          1,095 
Units
22,334 
VANGUARD STRATEGIC SMALL CAP EQ INVT
          2,962 
Units
35,992 
VANGUARD TARGET RET 2015 FD INVESTOR CL
          2,395 
Units
22,874 
VANGUARD TOTAL INTL STOCK INDEX FUND
          8,165 
Units
88,097 
VANGUARD TOTAL STOCK MARKET
          7,769 
Units
169,359 
VANGUARD VALUE INDEX
             517 
Units
8,319 
VANGUARD WELLINGTON FUND
          3,229 
Units
78,896 
VANGUARD WINDSOR II
         13,685 
Units
261,511 
VANGUARD/WELLESLEY INCOME
          1,321 
Units
24,299 
VIRTUS FOREIGN OPPORTUNITES CL A
             861 
Units
14,335 
WASATCH 1ST SOURCE INC EQUITY FD
          9,802 
Units
101,553
WASATCH EMERGING MARKETS SMALL CAP FD
          2,679 
Units
2,251 
WASATCH GLOBAL SCIENCE & TECHNOLOGY
          2,099 
Units
15,136 
WASATCH SMALL CAP GROWTH
             419 
Units
8,623 
WELLS FARGO ASIA PACIFIC FD-INVESTOR
          3,474 
Units
22,862 
WELLS FARGO MID CAP DISCIPLINED FD-INVES
             213 
Units
2,887 
WELLS FARGO SHORT TERM HI YIELD BD-INV
          1,145 
Units
8,517 
WELLS FARGO SHRT TRM HI YIELD BND CLASS A
             123 
Units
917 
WESTCORE PLUS BOND FUND
          1,525 
Units
15,019 
WESTERN ASSET CORE PLUS INSTITUTIONAL
          1,277 
Units
11,084 
WESTPORT SELECT CAP CLASS I
          1,444 
Units
23,198 
WILLIAM BLAIR VALUE DISCOVERY CLASS N
             869 
Units
7,242 
WINTERGREEN FUND
         10,112 
Units
88,275 
WRIGHT INTERNATIONAL BLUE CHIP
          1,277 
Units
13,808 
YACKTMAN FOCUSED FD
          2,392 
Units
23,848 
YACKTMAN FUND
1,819 
Units
  
17,606 
CASH ACCOUNT
8,406,324 
Units
  
                8,406,324
Total Registered Investment Companies
    
$
33,465,370 
         
Net Assets Pending Settlement
    
$
(7,067,415) 
         
TOTAL INVESTMENTS
    
$
2,548,142,827 
 
AMERICAN ELECTRIC POWER SYSTEM RETIREMENT SAVINGS PLAN 

SUPPLEMENTAL SCHEDULE OF ASSETS ACQUIRED AND DISPOSED IN 2008


     
Number of
    
AEP STOCK FUND:
  
SHARES/UNITS
FAIR VALUE
American Electric Power Company, Inc. Common Stock $6.50 par value
  
738,949
Shares
*
$
(26,742,546)
TOTAL - AEP STOCK FUND
        
$
(26,742,546)


* Transactions are recorded on the trade date.  Negative units represent unsettled sale transactions.

 
 
 
AMERICAN ELECTRIC POWER SYSTEM RETIREMENT SAVINGS PLAN

EXHIBIT INDEX

Exhibit Number
  
Description
  
     
23
  
Consent of Independent Registered Public Accounting Firm