| OVERALL PORTFOLIO COMPOSITION (%) | |
| Cash: | 28.65 | | Stocks: | N/A | | Bonds: | 69.62 | | Other: | 1.72 |
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| TOP 10 HOLDINGS ( 11.28% OF TOTAL ASSETS) | |
| Company | Symbol | % Assets | YTD Return % | | US Treasury Bond (Fut) | N/A | 2.25 | N/A | | FNMA CMO | N/A | 1.25 | N/A | | New Century He Tr 2004-2 FRN | N/A | 1.15 | N/A | | FNMA | N/A | 1.11 | N/A | | FNMA CMO | N/A | 1.07 | N/A | | FNMA | N/A | 1.02 | N/A | | FHLMC FRN | N/A | 0.89 | N/A | | Westpac Bk Corp Sr Mtn 144a 144A 3.25% | N/A | 0.85 | N/A | | Macquarie Bk Ltd Sr Mtn 144a 144A 2.6% | N/A | 0.85 | N/A | | BA CREDIT CARD TR 2006-9A | N/A | 0.84 | N/A |
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| Averages | ARMBX | Category Avg | | Price/Earnings | N/A | N/A | | Price/Book | N/A | 1.63 | | Price/Sales | N/A | 0.71 | | Price/Cashflow | 0.41 | 3.88 | | Median Market Cap | 41.56M | 1.44B | | 3 Year Earnings Growth | N/A | N/A |
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| Sector | | ARMBX | Category Avg | | Utilities | | 0.00 | 0.00 | | Business services | | 0.00 | 0.00 | | Financials | | 0.00 | 0.00 | | Telecommunications | | 0.00 | 0.00 | | Media | | 0.00 | 13.43 | | Consumer goods | | 0.00 | 0.00 | | Energy | | 0.00 | 0.00 | | Hardware | | 0.00 | 0.00 | | Health | | 0.00 | 0.00 | | Software | | 0.00 | 0.00 | | Consumer services | | 0.00 | 0.00 | | Industrial materials | | 100.00 | 86.57 |
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| Sector | ARMBX | Category Avg | | US GOVERNMENT | N/A | N/A | | AAA | 77.22 | 76.27 | | AA | 4.40 | 4.80 | | A | 2.64 | 6.93 | | BBB | 2.88 | 6.05 | | BB | 7.08 | 1.03 | | B | 5.00 | 1.18 | | BELOW B | 0.78 | 1.02 | | OTHER | 0.00 | 2.72 |
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| Averages | ARMBX | Category Avg | |
Maturity
| 3.61 | 2.76 | |
Duration
| 0.74 | 0.87 | |
Credit Quality
| AA | AA |
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0.20% Nasdaq 
Holdings
