Aberdeen Global Fixed Income Fund

Fund Holdings

Name	Ticker	Security No.	Shares	Market Value	Percent
Cash		Cash	1425761	1425761.45	4.83%
JAPAN (GOVT OF) 0.8% 20/06/23 62 JPY	JGB .8 06/20/23	ED0114584	105000000	1282433.82	4.34%
SINGAPORE (GOVT OF) 3.625% 01/07/14 SGD	SIGB 3.625 07/01/14	ED5174146	1400000	1225435.75	4.15%
JAPAN-275 (10 YEAR ISSUE) 1.4% 20/12/2015 JPY	JGB 1.4 12/20/15	EF2389833	70000000	887678.75	3.01%
AUSTRALIAN GOVERNMENT	ACGB 4.75 06/15/16	EI3151277	600000	684485.95	2.32%
BONOS Y OBLIG DEL ESTADO	SPGB 4.25 10/31/16	EI7927748	500000	659371.27	2.23%
GERMANY (FED REP OF)	DBR 4 01/04/18	EH0047405	367000	579822.88	1.96%
JAPAN- 105(5 YEAR ISSUE)	JGB 0.2 06/20/17	EJ2361644	40000000	486595.90	1.65%
EUROPEAN INVST BANK 4.75% 15/10/17 EMTN EUR	EIB 4.75 10/15/17	EG5980628	300000	467665.46	1.58%
JAPAN (GOVT OF) 0.8% 20/03/14 JPY	JGB 0.8 03/20/14	EH7559816	35900000	439935.65	1.49%
JAPAN (GOVT OF) 1.4% 20/12/18 240 JPY	JGB 1.4 12/20/18	EH6435695	33000000	430584.65	1.46%
US TREASURY N/B	T 0.75 10/31/17	912828TW0	420000	423321.26	1.43%
FRANCE (GOVT OF)	FRTR 3 04/25/22	EJ0036891	280000	403996.31	1.37%
CANADA-GOVT	CAN 4 06/01/17	135087YF5	350000	401435.16	1.36%
US TREASURY N/B	T 3 05/15/42	912810QW1	356000	372881.68	1.26%
US TREASURY N/B	T 1.625 11/15/22	912828TY6	368000	368954.49	1.25%
UK TREASURY 4.25% 07/09/39 GBP	UKT 4.25 09/07/39	EH7368119	175000	348975.23	1.18%
Govt of Japan 30-year 2.3 3/20/39 JPY	JGB 2.3 03/20/39	EH7911181	25000000	332968.94	1.13%
Govt of Canada 5.75% 01/06/29 MTN CAD	CAN 5.75 06/01/29	135087WL4	210000	323787.25	1.10%
UK TREASURY 2.75% 22/01/15 GBP	UKT 2.75 01/22/15	EI0278347	190000	323097.73	1.09%
GERMANY (FED REP OF) 5.5% 04/01/31 00 EUR	DBR 5.5 01/04/31	EC3022802	145000	293772.94	0.99%
NETHERLANDS (KING OF) 3.75% 15/07/14 EUR	NETHER 3.75 07/15/14	ED3904759	200000	279305.06	0.95%
JAPAN (GOVT OF) 1.1% 20/03/33 10 JPY	JGB 1.1 03/20/33	EC9747782	25000000	274035.65	0.93%
GERMANY (FED REP OF) 1.75% 09/10/15 158 EUR	OBL 1.75 10/09/15	EI4053506	200000	273311.26	0.93%
SVENSKA HANDELSBANKEN AB	SHBASS 2.875 04/04/17	86960BAB8	250000	266382.27	0.90%
UK TREASURY 4.25% 07/03/36 GBP	UKT 4.25 03/07/36	EC8677113	130000	259488.76	0.88%
SHELL INTERNATIONAL FINANCE	RDSALN 2.25 01/06/23	822582AV4	260000	259205.44	0.88%
BUONI POLIENNALI DEL TES	BTPS 5.5 09/01/22	EJ0420566	180000	257377.21	0.87%
US TREASURY N/B	T 0.375 11/15/15	912828TX8	255000	255480.62	0.87%
BELGIUM (KING OF) 4.25% 28/09/21 61 EUR	BGB 4.25 09/28/21	EI5423674	150000	233009.62	0.79%
ABN AMRO BANK NV	ABNANV 4.25 02/02/17	00084DAE0	200000	221423.72	0.75%
DNB BANK ASA	DNBNO 3.2 04/03/17	23329PAA8	200000	213942.51	0.72%
JAPAN (GOVT OF) (10 YEAR ISSUE) 1.3% 20/03/19 299 JPY	JGB 1.3 03/20/19	EH7440579	16000000	207065.81	0.70%
Netherlands (Kingdom of) 3.25% 15/07/15 EUR	NETHER 3.25 07/15/15	ED9903094	140000	198916.14	0.67%
CAJA AHORROS GUIPUZCOA	KUTXAB 4.375 11/05/14	EI4504789	150000	197804.70	0.67%
BP CAPITAL MARKETS PLC	BPLN 1.375 11/06/17	05565QCC0	183000	184105.11	0.62%
AUSTRIA (REP OF) 6.25% 15/07/27 97 6 EUR	RAGB 6.25 07/15/27	GG7292566	90000	178713.56	0.61%
SWEDEN (KING OF) 3.75% 12/08/17 1051 SEK	SGB 3.75 08/12/17	EF6843132	1000000	171097.56	0.58%
ITALY (REP OF) 5% 01/09/40 EUR	BTPS 5 09/01/40	EH9691161	130000	167954.87	0.57%
NEDER WATERSCHAPSBANK 3% 17/03/15 EMTN USD	NEDWBK 3 03/17/15	EI1597331	150000	161158.00	0.55%
TOYOTA MOTOR CREDIT CORP	TOYOTA 0.875 07/17/15	89233P6J0	158000	159029.74	0.54%
TESCO 5.875% 12/09/16 EMTN EUR	TSCOLN 5.875 09/12/16	EH5383417	100000	154776.44	0.52%
FRANCE (GOVT OF) 4.75% 25/04/35 EUR	FRTR 4.75 04/25/35	ED3871594	90000	154322.78	0.52%
LLOYDS TSB BANK 4.625% 02/02/17 EMTN EUR	LLOYDS 4.625 02/02/17	EJ0018808	100000	151094.71	0.51%
UK TSY 4 1/4% 2049	UKT 4.25 12/07/49	EH5295793	75000	149924.30	0.51%
LLOYDS TSB BANK 4.125% 06/04/16 COVB EMTN EUR	LLOYDS 4.125 04/06/16	EI6287979	100000	148130.02	0.50%
SOCIETE GENERALE 3.75% 01/03/17 EMTN EUR	SOCGEN 3.75 03/01/17	EJ0219695	100000	145025.77	0.49%
AMADEUS CAP MARKT	AMSSM 4.875 07/15/16	EI7360494	100000	144415.54	0.49%
TELSTRA CORP 3.5% 21/09/22 EUR	TLSAU 3.5 09/21/22	EJ0952857	100000	144244.25	0.49%
SOCIETE GENERALE SFH 2.875% 14/03/19 COVB EMTN EUR	SOCSFH 2.875 03/14/19	EJ0493225	100000	143569.93	0.49%
SOCIETE GENERALE SFH 3.25% 06/06/16 COVB EMTN EUR	SOCSFH 3.25 06/06/16	EI6902460	100000	143333.73	0.49%
KONINKLIJKE KPN NV	KPN 4.25 03/01/22	EJ0401632	100000	143169.85	0.48%
TEVA PHARMACEUTICAL FINANCE IV 2.875% 15/04/19 EMTN EUR	TEVA 2.875 04/15/19	EJ1136138	100000	141328.20	0.48%
Com of Australia 6% 15/02/17 217 AUD	ACGB 6 02/15/17	ED4972490	115000	138066.05	0.47%
BP CAP MRKTS 2.177% 16/02/16 EMTN EUR	BPLN 2.177 02/16/16	EJ0258115	100000	137571.45	0.47%
ABBEY NATL TREASURY SERV 3.125% 30/06/14 COVB EUR	ABBEY 3.125 06/30/14	EI3041577	100000	136857.24	0.46%
ROYAL BANK OF SCOTLAND 5.25% 15/05/13 EMTN EUR	RBS 5.25 05/15/13	EH3542311	100000	136476.86	0.46%
TERRA BOLIGKREDITT AS	TERBOL 2.125 08/31/15	EI3830987	100000	135908.45	0.46%
BPCE SFH - SOCIETE DE FI	BPCECB 1.5 02/28/18	EJ3699240	100000	132034.13	0.45%
ITALY (REP OF) 4.5% 01/03/26 EUR	BTPS 4.5 03/01/26	EI4153199	100000	129473.34	0.44%
SES 4.625% 09/03/20 EMTN EUR	SESGFP 4.625 03/09/20	EI1725007	80000	124624.28	0.42%
CITIGROUP INC	C 2.65 03/02/15	172967FY2	120000	124360.61	0.42%
JPMORGAN CHASE & CO	JPM 3.45 03/01/16	46625HHX1	115000	123701.48	0.42%
BANK OF AMERICA CORP	BAC 1.5 10/09/15	06051GER6	120000	120765.00	0.41%
AGENCE FRANCAISE DEVELOP	AGFRNC 4.615 12/31/49	EF5576055	100000	117305.62	0.40%
WESTPAC BANKING CORP	WSTP 1.125 09/25/15	961214BW2	115000	116281.39	0.39%
BANK FUER ARBEIT & WIRT 6.125% 20/10/14 EMTN GBP	BAWAG 6.125 10/20/14	EC1861821	67000	115932.40	0.39%
VERIZON COMMUNICATIONS	VZ 3.85 11/01/42	92343VBG8	115000	115598.43	0.39%
ROYAL BK OF SCOTLAND PLC	RBS 5.875 05/12/16	780097AX9	106000	115581.71	0.39%
GENERAL ELEC CAP CORP	GE 1.6 11/20/17	36962G6K5	115000	115176.17	0.39%
COUNCIL OF EUROPE 5.625% 14/12/15 MTN AUD	COE 5.625 12/14/15	EF1905506	100000	112666.34	0.38%
COMMONWEALTH BANK AUST	CBAAU 3.25 03/17/16	2027A0FR5	100000	106913.66	0.36%
POLAND (REP OF) 5.5% 25/04/15 0415 PLN	POLGB 5.5 04/25/15	EI0646675	310000	105825.89	0.36%
EUROFIMA 6% 30/03/22 EMTN AUD	EUROF 6 03/30/22	EG2844025	90000	104002.89	0.35%
ACRE 2010-ARTA A2FL	ACRE 0 01/14/29	03063NAG2	100000	102385.61	0.35%
LLOYDS TSB BANK 6.75% 24/10/18 EMTN GBP	LLOYDS 6.75 10/24/18	EH5978430	50000	98980.27	0.34%
BUNDESREPUB. DEUTSCHLAND	DBR 2 01/04/22	EI8792380	70000	98648.64	0.33%
MOODYS CORP	MCO 4.5 09/01/22	615369AB1	88000	95423.77	0.32%
NBCUNIVERSAL MEDIA LLC	CMCSA 4.375 04/01/21	63946BAE0	82000	93878.25	0.32%
Netherlands (Kingdom of) 4.5% 15/07/15 EUR	NETHER 4.5 07/15/17	EG6293930	60000	93312.49	0.32%
CVS CAREMARK CORP	CVS 5.75 05/15/41	126650BX7	75000	93154.02	0.32%
FRANCE (GOVT OF) 5.5% 25/04/29 EUR	FRTR 5.5 04/25/29	GG7384272	50000	91448.36	0.31%
NATIONWIDE BLDG SOCIETY	NWIDE 6.75 07/22/20	EI3233547	60000	90288.78	0.31%
LIBERTY MUTUAL GROUP	LIBMUT 6.5 05/01/42	53079EAZ7	80000	89320.61	0.30%
UK TREASURY 4% 07/03/22 GBP	UKT 4 03/07/22	EH7282005	45000	87660.39	0.30%
NY PORT AUTH NY NJ REV	PORTRN 6.04 12/01/29	73358WAJ3	65000	84781.45	0.29%
BMW FINANCE 3.375% 14/12/18 EMTN GBP	BMW 3.375 12/14/18	EJ0003099	48000	83966.76	0.28%
BCAP 2009-RR2 A1	BCAP 0 01/21/38	05531QAA7	80822	82104.62	0.28%
TREASURY 4.4% 2019	IRISH 4.4 06/18/19	EH3032941	60000	80729.47	0.27%
OH AMERICAN MUN PWR REV	AMEPWR 7.834 02/15/41	02765UEJ9	55000	79998.97	0.27%
INTL PAPER CO	IP 7.95 06/15/18	460146CA9	60000	79961.84	0.27%
CAPITAL ONE FINANCIAL CO	COF 1 11/06/15	14040HBA2	80000	79810.20	0.27%
DENMARK (KING OF) 4.5% 15/11/39 DKK	DGB 4.5 11/15/39	EH6131138	300000	79218.32	0.27%
SBA TOWER TRUST	SBAC 2.933 12/15/17	78403DAC4	75000	78978.65	0.27%
BOSTON SCIENTIFIC CORP	BSX 6 01/15/20	101137AK3	65000	78140.83	0.26%
PHILIP MORRIS INTL 5.75% 24/03/16 EMTN EUR	PM 5.75 03/24/16	EH7621616	50000	77865.83	0.26%
AXA SA	AXASA 6.6666 12/31/49	EF5279742	50000	76907.36	0.26%
INTL LEASE FINANCE CORP	AIG 6.5 09/01/14	459745FY6	70000	76037.50	0.26%
AETNA INC	AET 4.125 11/15/42	00817YAM0	75000	75843.15	0.26%
BARCLAYS BANK 6% 14/01/21 EMTN EUR	BACR 6 01/14/21	EI3180771	50000	75583.42	0.26%
ANHEUSER-BUSCH INBEV 4% 26/04/18 EMTN EUR	ABIBB 4 04/26/18	EI2239560	50000	75515.57	0.26%
CATHOLIC HEALTH INITIATI	CATMED 1.6 11/01/17	14916RAB0	72000	73208.36	0.25%
CSMC 2009-8R 5A1	CSMC 0 05/26/37	12641RBN9	68408	73193.66	0.25%
ING BANK 6.125% FRN 29/05/23 EMTN EUR	INTNED 6.125 05/29/23	EH3740253	50000	72253.76	0.24%
ONCOR ELECTRIC DELIVERY	ONCRTX 4.55 12/01/41	68233JAT1	70000	71986.04	0.24%
GE CAP UK FUNDING 4.375% 31/07/19 GBP	GE 4.375 07/31/19	EJ0020002	40000	71079.11	0.24%
FNR 2011-6 PH	FNR 4 02/25/41	31397QUK2	65000	71101.74	0.24%
NATIONWIDE BLDG SOC 3.75% 20/01/15 EUR	NWIDE 3.75 01/20/15	EI1080817	50000	70965.41	0.24%
AVIVA 6.875% FRN 22/05/38 EMTN EUR	AVLN 6.875 05/22/38	EH3633888	50000	70378.27	0.24%
ITALY (REP OF) 5% 01/03/22 EUR	BTPS 5 03/01/22	EI7933985	50000	69369.04	0.23%
BLACKSTONE HOLDINGS FINA	BX 6.625 08/15/19	09256BAA5	58000	68989.78	0.23%
BUNDESREPUB. DEUTSCHLAND	DBR 1.75 07/04/22	EJ1202419	50000	68119.91	0.23%
FMC TECHNOLOGIES INC	FTI 3.45 10/01/22	30249UAB7	65000	67192.86	0.23%
GA MEAG PROJECT J	MELPWR 6.637 04/01/57	626207YF5	55000	67065.44	0.23%
BANKIA SAU	BKIASM 3.5 03/14/13	EI3987886	50000	66526.60	0.23%
BLOCK FINANCIAL LLC	HRB 5.5 11/01/22	093662AE4	64000	66188.29	0.22%
FNR 2011-2 PD	FNR 4 12/25/39	31397QGZ5	60000	65471.24	0.22%
IL CHICAGO TRANSIT AUTH	CHITRN 6.2 12/01/40	16772PAQ9	55000	64756.45	0.22%
TIME WARNER CABLE INC	TWC 5.875 11/15/40	88732JAY4	55000	64046.08	0.22%
FN 891386	FN 5.5 10/01/35	31410MJ76	57452	63087.68	0.21%
AMERICAN INTL GROUP	AIG 4.875 09/15/16	026874CB1	55000	62189.64	0.21%
FN AJ1422	FN 5 09/01/41	3138ASSL7	56359	61813.67	0.21%
PENSKE TRUCK LEASING/PTL	PENSKE 3.75 05/11/17	709599AE4	60000	61707.86	0.21%
CBS CORP	CBS 8.875 05/15/19	124857AC7	45000	61572.22	0.21%
FNR 2011-124 JM	FNR 4 02/25/41	3136A2L50	55180	61376.44	0.21%
NATIONWIDE MUTUAL INSURA	NATMUT 9.375 08/15/39	638671AK3	41000	60865.16	0.21%
HSBC FINANCE CORP	HSBC 6.676 01/15/21	40429CGD8	50000	60788.32	0.21%
NEWCREST FINANCE PTY LTD	NCMAU 4.2 10/01/22	65120FAC8	58000	60574.91	0.21%
ENTERPRISE PRODS O	EPD 4.45 02/15/43	29379VAY9	60000	60353.64	0.20%
DIRECTV HOLDINGS/FING	DTV 5.875 10/01/19	25459HAU9	50000	60006.08	0.20%
DOW CHEMICAL CO/THE	DOW 4.375 11/15/42	260543CG6	60000	59528.94	0.20%
FG Q09912	FG 3.5 08/01/42	3132GVKZ4	54115	58687.40	0.20%
ENERGY TRANSFER PARTNERS	ETP 5.2 02/01/22	29273RAQ2	50000	57195.52	0.19%
ABBVIE INC	ABT 2.9 11/06/22	00287YAC3	55000	56385.60	0.19%
DPABS 2012-1A A2	DPABS 5.216 01/25/42	25755TAC4	49437	55929.29	0.19%
ROYAL BANK OF SCOTLAND	RBS 2.55 09/18/15	780099CC9	54000	55571.39	0.19%
NETHERLANDS GOVERNMENT	NETHER 2.25 07/15/22	EJ0062152	40000	55428.37	0.19%
AFFILIATED COMPUTER SVCS	XRX 5.2 06/01/15	008190AH3	50000	55232.85	0.19%
JPMRR 2009-7 17A1	JPMRR 0 07/27/37	46633PBG6	53870	55054.47	0.19%
JPMRR 2009-7 2A1	JPMRR 6 02/27/37	46633PAC6	52999	54636.84	0.19%
CA UNIV OF CA-TXBL-AD REV	UNVHGR 4.858 05/15/12	91412GHA6	50000	53918.96	0.18%
HCP INC	HCP 3.75 02/01/16	40414LAC3	50000	53795.35	0.18%
ERAC USA FINANCE COMPANY	ENTERP 6.2 11/01/16	26882PAX0	45000	53079.60	0.18%
FG Q08305	FG 3.5 05/01/42	3132GTR25	48897	53028.53	0.18%
MAPFRE SA	MAPSM 5.921 07/24/37	EG6617310	50000	51931.74	0.18%
FG Q04603	FG 4 11/01/41	3132GKX84	47263	51291.47	0.17%
GNR 2012-24 MN	GNR 4 11/20/39	38378C2W6	48185	51307.54	0.17%
FN AI5595	FN 5 07/01/41	3138AKGD5	45959	50809.08	0.17%
BCAP 2009-RR6 3A1	BCAP 0 12/26/37	05531YAE2	49795	49696.97	0.17%
JPMORGAN CHASE N CO	JPM 5.4 01/06/42	48126BAA1	40000	49539.32	0.17%
INTERPUBLIC GROUP COS	IPG 2.25 11/15/17	460690BJ8	50000	49474.93	0.17%
US TREASURY N/B	T 2.75 08/15/42	912810QX9	49000	49012.65	0.17%
Forward CZECH REPUB KORUNA	MMC US	571748102	950000	48931.70	0.17%
WFNMT 2010-A M	WFNMT 5.2 04/15/19	981464CK4	45000	48869.51	0.17%
FN 966202	FN 6 12/01/37	31414G3K3	44265	48875.15	0.17%
FG A95803	FG 4 12/01/40	312944NU1	43664	48634.41	0.16%
ANADARKO PETROLEUM CORP	APC 6.375 09/15/17	032511BH9	40000	48618.73	0.16%
FN AO1877	FN 3.5 04/01/42	3138LSCP3	44485	47784.66	0.16%
JPMCC 2007-LD12 A4	JPMCC 0 02/15/51	46632HAD3	40000	47791.11	0.16%
FN AK4827	FN 3.5 04/01/42	3138E9LH1	44259	47542.52	0.16%
JPMCC 2007-LD11 ASB	JPMCC 0 06/15/49	46631BAF2	42694	47025.68	0.16%
FINNISH (REP OF) 3.5% 15/04/21 EUR	RFGB 3.5 04/15/21	EI5769118	30000	46278.03	0.16%
FN 995228	FN 6.5 11/01/38	31416BSR0	40664	46151.23	0.16%
EL PASO PIPELINE PART OP	EPB 4.7 11/01/42	28370TAF6	46000	45712.49	0.15%
FNR 2012-38 PA	FNR 2 09/25/41	3136A42X6	43576	44702.39	0.15%
JPMRR 2009-7 14A1	JPMRR 0 07/27/37	46633PBA9	44998	44616.45	0.15%
MEDCO HEALTH SOLUTIONS I	ESRX 7.125 03/15/18	58405UAD4	35000	44511.07	0.15%
JPMRR 2009-8 A1	JPMRR 0 04/20/36	46633TAA2	43117	44354.17	0.15%
CSMC 2009-3R 30A1	CSMC 0 07/27/37	22943YUR8	42807	43679.66	0.15%
JABIL CIRCUIT INC	JBL 5.625 12/15/20	466313AF0	40000	43537.50	0.15%
GEORGIA-PACIFIC LLC	GP 8 01/15/24	373298CF3	30000	43445.53	0.15%
FG G13774	FG 5.5 12/01/20	3128MCMX0	39471	43015.38	0.15%
FN AK6972	FN 3.5 03/01/27	3138EBXA8	37046	40114.62	0.14%
FN AI0036	FN 4.5 07/01/41	3138ADBE4	35853	38970.56	0.13%
GROUPAMA 4.375% FRN 49 EUR	CCAMA VAR 49-15	EF0038143	50000	38545.52	0.13%
TYCO FLOW CONTROL FINANC	PNR 1.875 09/15/17	902134AA3	38000	38474.33	0.13%
FG Q09082	FG 3.5 06/01/42	3132GUM76	34501	37416.53	0.13%
JPMRR 2009-7 1A1	JPMRR 0 08/27/37	46633PAA0	37618	37427.83	0.13%
IPALCO ENTERPRISES INC	AES 5 05/01/18	462613AG5	35000	36280.88	0.12%
CSMC 2009-2R 2A5	CSMC 0 06/26/37	22944FBW8	35987	35783.35	0.12%
CSMC 2009-12R 15A1	CSMC 6 05/27/36	12642MBN9	34810	35164.67	0.12%
EL PASO PIPELINE PART OP	EPB 5 10/01/21	28370TAE9	30000	34526.32	0.12%
CITIGROUP INC	C 4.5 01/14/22	172967FT3	30000	34328.46	0.12%
FNR 2009-85 LC	FNR 4.5 10/25/49	31396Q7J2	30000	33805.61	0.11%
FN AJ1472	FN 4 10/01/41	3138AST69	30617	33496.12	0.11%
FHR 4134 WA	FHR 3.5 04/15/38	3137AW2P9	30000	33012.50	0.11%
FNR 2012-93 VK	FNR 3.5 09/25/25	3136A8FJ4	29540	32833.67	0.11%
FHR 4057 VB	FHR 3.5 06/15/25	3137ARL20	29234	32779.13	0.11%
FN AO9950	FN 4 07/01/42	3138M2BU9	29587	32779.76	0.11%
G2 783356	G2 6 06/20/41	36241LWR3	28770	32432.95	0.11%
FNR 2012-67 KA	FNR 3.5 05/25/41	3136A7GW6	29601	32382.63	0.11%
FG Q10152	FG 3.5 08/01/42	3132HLEZ2	29851	32326.48	0.11%
CA BAY AREA TOLL-S1 REV	BAYTRN 6.793 04/01/30	072024NT5	25000	32261.04	0.11%
AMERICAN ELECTRIC POWER	AEP 1.65 12/15/17	025537AF8	32000	32126.30	0.11%
FG Q06531	FG 4 03/01/42	3132GRSU6	29544	32057.63	0.11%
FN AO8719	FN 3.5 07/01/42	3138M0VM9	29793	32028.98	0.11%
FHR 4097 GT	FHR 3 10/15/31	3137ATKF8	29654	31745.19	0.11%
FN AP5191	FN 3 09/01/27	3138M8XV0	29572	31666.53	0.11%
FG C91482	FG 3.5 07/01/32	3128P7UF8	29304	31422.88	0.11%
FHR 3980 EP	FHR 5 01/15/42	3137AKL66	27275	31280.27	0.11%
FNR 2012-21 PJ	FNR 4 03/25/41	3136A35Z0	28607	30637.60	0.10%
FN AO3007	FN 3.5 05/01/27	3138LTKV9	28303	30404.01	0.10%
HUMANA INC	HUM 6.3 08/01/18	444859AU6	25000	30174.68	0.10%
BCAP 2009-RR4 3A1	BCAP 0 04/26/37	05531RAG2	30278	30067.55	0.10%
FN 890149	FN 6.5 10/01/38	31410K5J9	26228	29659.95	0.10%
FN AE8388	FN 4.5 11/01/40	31419KKA2	26061	29361.81	0.10%
BSCMS 2006-PW13 AM	BSCMS 0 09/11/41	07388LAG5	25000	28103.09	0.10%
GCCFC 2006-GG7 AM	GCCFC 2006-GG7 AM	20173MAG5	25000	28034.85	0.09%
FHR 3793 LV	FHR 4 11/15/23	3137A5EJ9	26581	27911.66	0.09%
FHR 4097 VA	FHR 3.5 08/15/25	3137ATQU9	24618	27601.18	0.09%
FNR 2011-76 PB	FNR 2.5 04/25/39	3136A0WP8	26194	27265.28	0.09%
FNR 2010-56 BD	FNR 5 12/25/38	31398RK46	25000	27229.33	0.09%
FG Q13160	FG 3.5 11/01/42	3132HPQM9	25000	27154.95	0.09%
FHR 4103 DV	FHR 3 11/15/25	3137AUA41	24739	27148.69	0.09%
FG Q10154	FG 3.5 08/01/42	3132HLE33	24883	26787.52	0.09%
FN AK3774	FN 4 03/01/42	3138E8FQ0	24245	26549.10	0.09%
FN AO8034	FN 3.5 07/01/42	3138LY4U8	24601	26449.61	0.09%
FN AL2627	FN 5 07/01/37	3138EJ4M7	24033	26306.85	0.09%
GNR 2012-52 PM	GNR 3.5 12/20/39	38375CG79	24366	26304.05	0.09%
FHR 4135 AD	FHR 2 06/15/42	3137AWAG0	25000	25682.42	0.09%
FN AL1862	FN 3 04/01/27	3138EJB80	23993	25651.32	0.09%
FG C91293	FG 5 03/01/30	3128P7NJ8	23692	25630.21	0.09%
ROWAN COMPANIES INC	RDC 7.875 08/01/19	779382AK6	20000	25488.68	0.09%
FG C91442	FG 3.5 04/01/32	3128P7S79	23295	25386.68	0.09%
INGRAM MICRO INC	IM 5 08/10/22	457153AF1	24000	25024.62	0.08%
GECMC 2007-C1 A4	GECMC 5.543 12/10/49	36159XAE0	20000	23098.25	0.08%
GNR 2011-45 VE	GNR 4.5 04/20/22	38377Q2B2	21973	22823.40	0.08%
COMM 2007-C9 AM	COMM 0 12/10/49	20047RAG8	20000	22783.60	0.08%
CGCMT 2007-C6 AM	CGCMT 0 12/10/49	17311QBM1	20000	22549.13	0.08%
FHR 4073 VQ	FHR 4 06/15/25	3137ARYU4	19601	22176.02	0.08%
BSCMS 2007-PW17 AMFL	BSCMS 0 06/11/50	07388QBU2	25000	22059.65	0.07%
FG Q11164	FG 4 09/01/42	3132HMJH5	19936	22018.48	0.07%
FN AB6935	FN 3.5 11/01/42	31417DV59	20000	21902.08	0.07%
FN AP3966	FN 3.5 09/01/42	3138M7MQ5	19916	21611.99	0.07%
BSCMS 2005-PWR9 AAB	BSCMS 4.804 09/11/42	07387BAG8	20250	21214.51	0.07%
FN 889050	FN 6 05/01/37	31410GWK5	18807	21177.57	0.07%
FN AI9139	FN 3 11/01/42	3138APEM6	19970	21092.86	0.07%
FN AB5959	FN 3 08/01/32	31417CTR6	19745	20904.86	0.07%
SANTANDER HOLDINGS USA	SOV 3 09/24/15	80282KAB2	20000	20490.81	0.07%
FN 995049	FN 5.5 02/01/38	31416BL63	16838	18490.59	0.06%
GERMANY (FED REP OF) 4.25% 04/07/39 07 EUR	DBR 4.25 07/04/39	EG1209048	10000	18450.93	0.06%
FN AK2818	FN 4.5 01/01/42	3138E7DY7	16729	18430.00	0.06%
JUNIPER NETWORKS INC	JNPR 5.95 03/15/41	48203RAD6	15000	17932.48	0.06%
CSMC 2009-3R 28A1	CSMC 0 08/27/37	22943YUB3	17762	17769.39	0.06%
FN 888367	FN 7 03/01/37	31410F6C4	15096	17498.56	0.06%
FN AP2109	FN 4 08/01/32	3138M5KX6	14865	16617.83	0.06%
FHR 4097 VT	FHR 3.5 08/15/25	3137ATR79	14771	16485.65	0.06%
FNR 2012-86 VC	FNR 3.5 08/25/25	3136A7PZ9	14692	16328.48	0.06%
FN AQ6196	FN 3.5 11/01/42	3138MM3E0	15000	16276.56	0.06%
FN AB6250	FN 4 09/01/42	31417C5L5	14790	16129.71	0.05%
FG G14583	FG 3 10/01/27	3128MDJ46	14915	15965.12	0.05%
FNCL 3% 30YR JAN TBA	FNCL 3 01/01/43	01F030611	15000	15750.00	0.05%
FNR 2012-84 QG	FNR 3 09/25/31	3136A7U34	14748	15693.49	0.05%
FRANCE (GOVT OF) 4% 25/10/38 EUR	FRTR 4 10/25/38	EF6625018	10000	15263.57	0.05%
CARNIVAL CORP	CCL 1.875 12/15/17	143658AY8	15000	15091.23	0.05%
FNR 2011-34 VA	FNR 4 06/25/22	31397Q7B8	13150	13805.97	0.05%
FN 890101	FN 6 02/01/39	31410K3J1	10451	11768.73	0.04%
CGCMT 2006-C5 AM	CGCMT 5.462 10/15/49	17310MAG5	10000	11288.27	0.04%
WBCMT 2006-C29 AM	WBCMT 5.339 11/15/48	92978PAH2	10000	11078.19	0.04%
CD 2005-CD1 AM	CD 5.399746 07/15/44	12513EAJ3	10000	11066.07	0.04%
FN AO9937	FN 4.5 07/01/42	3138M2BF2	9869	10971.46	0.04%
WFCM 2012-LC5 AS	WFCM 3.539 10/15/45	94988HAE1	10000	10649.92	0.04%
FREMF 2012-K501 C	FREMF 0 11/25/46	30290EAS4	10000	9938.98	0.03%
GNR 2009-13 ND	GNR 4.5 02/16/33	38374TMP6	9341	9759.02	0.03%
FN AB3690	FN 4 10/01/41	31417AC49	0	248.17	0.00%
FN 685200	FN 5 03/01/18	31400EGH7	0	76.06	0.00%
FN 993565	FN 4 04/01/24	31415YW21	0	31.24	0.00%
Forward CZECH REPUB KORUNA	MMC US	571748102	-290000	-14937.05	-0.05%

Disclosure

Holdings are subject to change at any time. Holdings should not be relied upon in making investment decisions and should not be construed as research or investment advice regarding specific securities. By accessing the portfolio holdings, you agree not to reproduce, distribute or disseminate the portfolio holdings, in whole or in part.