| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| ACCOUNTING FEES | 11,061 | 0 | 11,061 |
| Name of Bond | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| ANNHEUSER BUSCH INBEV 4.625% | 102,381 | 110,303 |
| Name of Stock | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| MORGAN STANLEY CAP 6.25% | 100,000 | 102,760 |
| LEHMAN BROS. 6.375% | 75,004 | 270 |
| RBS CAPITAL FUND TRUST 6.080% | 100,000 | 98,200 |
| ING GROUP 6.20% | 100,000 | 103,120 |
| NOBLE CORP PLC COM | 93,190 | 35,768 |
| EATON VANCE | 69,884 | 62,950 |
| ASSURED GTY MUN HOLDINGS | 70,117 | 75,513 |
| AEGON N V 6.5% | 100,000 | 104,600 |
| COUNTRYWIDE CAPITAL V 7.0% | 100,000 | 101,960 |
| PARAGON OFFSHORE PLC COM | 12,647 | 371 |
| MERRILL LYNCH CAP TR II GTD 6.45% | 100,000 | 104,000 |
| NUCOR CORP | 75,266 | 49,780 |
| STEEL DYNAMICS INC | 37,590 | 25,210 |
| PNC FINANCIAL SERVICES | 121,954 | 263,340 |
| PNC FINANCIAL SERVICES | 57,258 | 10,270 |
| GLAXOSMITHKLINE PLC SPONSORED | 73,138 | 85,820 |
| EXELON CORP 3.30% | 59,936 | 53,512 |
| JOHNSON & JOHNSON 3.09% | 30,182 | 48,755 |
| PPL CORP 4.40% | 55,963 | 77,727 |
| PRINCIPAL INVESTORS PREFERRED SECURITIES FUND A | 500,009 | 482,544 |
| AMERICAN FINL GROUP INC 6.375% | 53,321 | 57,513 |
| HCP INC | 98,200 | 91,341 |
| QWEST CORP 7.375% | 52,374 | 53,676 |
| TELEPHONE & DATA SYS 6.875% | 52,890 | 56,122 |
| US CELLULAR CORP 6.95% | 53,726 | 54,739 |
| AMERICAN FUNDS HIGH INCOME | 247,440 | 209,205 |
| LOOMIS SAYLES | 435,853 | 378,335 |
| TALEN ENERGY CORP COM | 4,108 | 2,997 |
| MERRILL LYNCH CAPITAL 7.0% | 0 | 0 |
| ROYAL BANK SCOTLAND PLC 6.4% | 0 | 0 |
| Category/ Item | Listed at Cost or FMV | Book Value | End of Year Fair Market Value |
|---|---|---|---|
| SEI PORTFOLIO | AT COST | 1,480,328 | 2,020,570 |
| Description | Revenue and Expenses per Books | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| PA FILING FEE | 15 | 0 | 15 | |
| MISCELLANEOUS EXPENSE | 100 | 100 | 0 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| INVESTMENT ADVISORY FEES | 10,189 | 10,189 | 0 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| 2,185 | 0 | 0 |