PORTFOLIO HOLDINGS

as of 5/23/12

Ticker symbols provided for securities traded on U.S. Exchanges only.

SYMBOL	BONDS (as of deposit date)	S&P Rating	INTEREST RATE (%)	MATURITY	Portfolio Weighting
	CONSOLIDATED EDISON CO NY INC REV DEB SER 2009B	A-	6.650 %	4/1/2019	4.62 %
	BHP BILLITON FIN USA LTD GTD SR NT REV	A+	6.500 %	4/1/2019	4.42 %
	WELLPOINT INC NT REV	A-	5.875 %	6/15/2017	4.31 %
	WASTE MGMT INC DEL SR NT REV	BBB	6.100 %	3/15/2018	4.26 %
	SUNOCO INC NT REV	BB+	9.625 %	4/15/2015	4.21 %
	MCKESSON CORP REV NT	A-	5.700 %	3/1/2017	4.21 %
	FEDEX CORP NT REV	BBB	8.000 %	1/15/2019	4.20 %
	INTUIT SR NT REV	BBB	5.750 %	3/15/2017	4.20 %
	BOARDWALK PIPELINES LP SR NT REV	BBB-	5.875 %	11/15/2016	4.12 %
	ENTERGY TEX INC REV	BBB+	7.125 %	2/1/2019	4.08 %
	TIME WARNER CABLE INC GTD NTS REV	BBB	8.250 %	4/1/2019	4.05 %
	WESTERN UN CO NT REV	A-	5.930 %	10/1/2016	4.01 %
	PACCAR INC MEDIUM TERM NTS BOOK ENTRY REV SER A	A+	6.875 %	2/15/2014	3.96 %
	BARRICK GOLD CORP NT REV	A-	6.950 %	4/1/2019	3.96 %
	VERIZON COMMUNICATIONS INC NT REV	A-	6.350 %	4/1/2019	3.83 %
	MARATHON OIL CORP SR NT REV	BBB	7.500 %	2/15/2019	3.75 %
	THOMSON REUTERS CORP GTD NT REV	A-	6.500 %	7/15/2018	3.72 %
	TARGET CORP NT REV	A+	6.000 %	1/15/2018	3.67 %
	ENERGY TRANSFER PARTNERS LP REV SR NT	BBB-	9.000 %	4/15/2019	3.66 %
	FISERV INC SR NT REV	BBB-	6.800 %	11/20/2017	3.57 %
	ALTRIA GROUP INC GTD NT REV	BBB	9.250 %	8/6/2019	3.41 %
	DELL INC NT REV	A-	5.650 %	4/15/2018	3.40 %
	SOUTHWESTERN ELEC PWR CO SR NTS REV SER F	BBB	5.875 %	3/1/2018	3.26 %
	VALERO ENERGY CORP NT REV	BBB	9.375 %	3/15/2019	3.22 %
	AT&T INC GLOBAL NT REV	A-	5.800 %	2/15/2019	3.07 %
	STAPLES INC SR NT REV	BBB	9.750 %	1/15/2014	2.82 %

Trust holdings are provided for information purposes only and should not be deemed as a recommendation to buy or sell the individual securities shown. The holdings percentages for the Trust are based on invested assets and do not include any cash component of the portfolio.

*The S&P ratings apply to the bonds held by the trust, and not the trust itself.

Important Fund Information.
Bond credit quality allocation reflects the ratings of Standards & Poor’s Corporation. Ratings are relative, subjective and not absolute standards of quality, represent the opinions of the independent, Nationally Recognized Statistical Rating Organizations (NRSRO), and are according to the Standards & Poor’s scale. Ratings are measured using a scale that typically ranges from AAA (highest) to D (lowest). The security’s credit rating does not eliminate risk. For more information about securities ratings, please see the Fund’s. Additional information on ratings methodologies are available by visiting the NRSRO website: www.standardandpoors.com.