| OVERALL PORTFOLIO COMPOSITION (%) | |
| Cash: | 7.55 | | Stocks: | N/A | | Bonds: | 92.45 | | Other: | 0.00 |
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| TOP 10 HOLDINGS ( 29.65% OF TOTAL ASSETS) | |
| Company | Symbol | % Assets | YTD Return % | | Wamu Mtg Cert 2006-Ar18 CMO | N/A | 4.85 | N/A | | Thornburg Mtg Tr 2006-4 CMO | N/A | 3.94 | N/A | | FHLMC CMO 4% | N/A | 3.55 | N/A | | THORNBURG MTG TR 2006-5 | N/A | 3.27 | N/A | | FNMA CMO | N/A | 2.74 | N/A | | Lehman Xs Tr 2007-3 CMO | N/A | 2.51 | N/A | | FNMA CMO 4% | N/A | 2.45 | N/A | | FHLMC 4.5% | N/A | 2.26 | N/A | | FNMA CMO 4% | N/A | 2.09 | N/A | | FNMA FRN | N/A | 1.99 | N/A |
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| Averages | ASARX | Category Avg | | Price/Earnings | N/A | N/A | | Price/Book | N/A | 1.01 | | Price/Sales | N/A | 0.46 | | Price/Cashflow | N/A | 2.41 | | Median Market Cap | N/A | 2.85B | | 3 Year Earnings Growth | N/A | N/A |
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| Sector | | ASARX | Category Avg | | Utilities | | N/A | 0.00 | | Business services | | N/A | 0.00 | | Financials | | N/A | 0.00 | | Telecommunications | | N/A | 0.00 | | Media | | N/A | 15.61 | | Consumer goods | | N/A | 0.00 | | Energy | | N/A | 0.00 | | Hardware | | N/A | 0.00 | | Health | | N/A | 0.00 | | Software | | N/A | 0.00 | | Consumer services | | N/A | 0.00 | | Industrial materials | | N/A | 84.39 |
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| Sector | ASARX | Category Avg | | US GOVERNMENT | N/A | N/A | | AAA | 78.50 | 71.72 | | AA | 2.90 | 4.84 | | A | 5.60 | 7.56 | | BBB | 0.00 | 8.33 | | BB | 1.20 | 2.73 | | B | 0.20 | 1.77 | | BELOW B | 11.50 | 1.25 | | OTHER | 0.10 | 1.79 |
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| Averages | ASARX | Category Avg | |
Maturity
| N/A | 2.66 | |
Duration
| 0.88 | 1.05 | |
Credit Quality
| AA | AA |
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0.18% Nasdaq 
Holdings
