| Name of Bond | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| 50M Arizona Public SE 5.8% 06/30/2014 | 49,446 | 55,072 |
| 50M Bio Rad 7.5% 08/15/2013 | 51,188 | 50,625 |
| 50M Colonial Realty 6.15% 04/15/2013 | 49,863 | 51,813 |
| 25M Colonial Realty 6.25% 06/15/2014 | 24,481 | 25,719 |
| 50M Corrections Corp of America 6.75% 1/31/2014 | 50,675 | 50,750 |
| 50M Dow Chemical 5.9% | 50,670 | 50,188 |
| 15M Dow Chemical 7.125% 11/15/13 | 15,255 | 15,075 |
| 20M Dow Chemical 8.25% 11/15/18 | 20,380 | 20,100 |
| 50M Dresser Rand Group Inc Step 7.375% 11/01/2014 | 50,000 | 51,375 |
| 50M Echostar DBS Co 6.375% 10/01/2011 | 48,188 | 51,438 |
| 40M Federal Paper B 8.875% 07/01/2012 | 41,640 | 42,977 |
| 25M Fidelity Natl 5.25% 3/15/2013 | 25,288 | 25,525 |
| 50M Freeport-McMoran 8.25% 04/01/2015 | 53,183 | 52,750 |
| 40M Georgia Pac 8.125% 05/15/2011 | 40,579 | 41,600 |
| 50M Iron Mtn Inc PA 7.75% 01/15/2015 | 50,330 | 50,000 |
| 70M KC Southern MX 7.625% 12/01/2013 | 72,443 | 72,450 |
| 25M KC Southern Rail 8.0% 06/01/2015 | 27,125 | 27,063 |
| 50M Leucadia Natl Corp 7% 08/15/13 | 49,187 | 53,313 |
| 50M Moog 6.25% 01/15/2015 | 48,625 | 50,875 |
| 50M Nextel Comm Ser D 7.375% 8/01/15 | 51,244 | 50,125 |
| 50M Royal Caribbean Cruises 6.875% 12/01/2013 | 48,926 | 53,250 |
| 35M Scholastic Corp 5% 04/15/2013 | 46,248 | 50,375 |
| 50M Sonat Inc 7.625% 07/15/2011 | 50,642 | 51,000 |
| 25M Sprint Cap Corp 8.375% 3/15/2012 | 25,931 | 26,250 |
| 50M United Dom Rlty 6.05% 06/01/2013 | 51,125 | 53,980 |
| Name of Stock | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| 1600 ABB Ltd | 43,301 | 35,920 |
| 1000 Aerovironment Inc | 26,257 | 26,830 |
| 200 Apple Inc | 46,976 | 64,512 |
| 750 Berkshire Hathaway Cl B | 30,016 | 60,083 |
| 600 Celgene Corp | 34,893 | 35,484 |
| 3000 Cenovus Energy Inc | 55,918 | 99,720 |
| 45000 Chaoda Modern Agri Ltd | 40,531 | 33,750 |
| 20000 China Minzhong Food | 19,423 | 21,232 |
| 3000 Cisco Systems | 56,029 | 60,690 |
| 1050 Cognizant Tech Solutions | 31,490 | 76,955 |
| 600 Diageo PLC ADR | 33,359 | 44,598 |
| 1200 Dolby Laboratories Inc | 51,092 | 80,040 |
| 1000 Dresser Rand Group | 20,206 | 42,590 |
| 2000 E M C Corp Mass | 38,309 | 45,800 |
| 1200 Encana Corp | 9,623 | 34,944 |
| 500 Fedex Corporation | 12,954 | 46,505 |
| 300 First Solar Inc | 41,552 | 39,042 |
| 2000 Fuel Tech Inc | 43,411 | 19,420 |
| 1500 General Electric Co | 57,635 | 27,435 |
| 1000 Goldman Sachs Group Inc | 81,065 | 168,160 |
| 50 Google Inc Cl A | 24,374 | 29,698 |
| 10000 Henderson Land Development | 65,635 | 68,179 |
| 15000 Hyflux Ltd Ord | 22,274 | 27,165 |
| 150 Intuitive Surgical | 14,628 | 38,662 |
| 1000 Itron Inc | 49,804 | 55,450 |
| 1400 Jacobs Engineering Group | 9,544 | 64,190 |
| 1709.533 Kinder Morgan Management | 41,544 | 114,334 |
| 1500 Martek Biosciences Corp | 32,620 | 46,950 |
| 500 Monsanto Co | 36,188 | 34,820 |
| 800 Morningstar Inc | 32,352 | 42,464 |
| 1200 Pepsico Inc | 68,379 | 78,396 |
| 2500 Quanta Services Inc | 49,851 | 49,800 |
| 4200 Resmed Inc | 41,313 | 145,488 |
| 1000 TEVA Pharm Inds Ltd | 46,809 | 52,130 |
| 1000 United Parcel Service | 63,879 | 72,580 |
| 500 Visa Inc Cl A | 27,972 | 35,190 |
| 1000 Wal-mart Stores | 50,480 | 53,930 |
| 2000 Hospitality Properties 8.875% Pfd Stck | 48,245 | 51,300 |
| Category/ Item | Listed at Cost or FMV | Book Value | End of Year Fair Market Value |
|---|---|---|---|
| 3700 Haven Cap Tr II 10.25% 6/30/29 | AT COST | 37,063 | 44,326 |
| Description | Revenue and Expenses per Books | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| Portfolio Expense | 26 | 26 | 0 |
| Description | Revenue And Expenses Per Books | Net Investment Income | Adjusted Net Income |
|---|---|---|---|
| Litigation Settlements | 362 | 362 | 362 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| Investment Fees | 12,979 | 12,979 | 0 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| Foreign Taxes | 491 | 491 | 0 | |
| CT Filing Fee | 50 | 0 | 50 |