Broad Market Bonds
Portfolio Holdings
Largest Broad Market Holdings as of December 31, 2011
CAM’s portfolios are diversified, with small seasoned accounts having 50 or more holdings in the portfolio and larger accounts having discretion over their diversification preferences. Since the High Yield portion of the Broad Market Portfolio is less than 35% of the portfolio, no High Yield credit will account for more than 1% of the total portfolio. Our largest holdings were as follows:
Bonds Rated "A3" or Higher by Moody's| Alabama Power Co | Utility Electric |
| AT&T | Wirelines |
| Apache | Independent Oil and Gas |
| Bank of New York Mellon | Banking |
| Morgan Stanley | Brokerage |
| EOG Resources | Independent Oil and Gas |
| General Electric Capital | Finance |
| J.P. Morgan Chase | Banking |
| Verizon Communications | Wirelines |
| Wells Fargo | Banking |
Bonds Rated "Baa1" - "Baa3" by Moody's
| Comcast Corp | Media Cable |
| Delta Airlines | Airlines |
| Anheuser Busch | Food and Beverage |
| Citicorp | Banking |
| United Airlines | Airlines |
| Weatherford Intl. Ltd. | Oil Field Services |
Bonds Rated BB and Lower (considered as High-yield Bonds)
| AES Corporation | Utility Electric |
| Arch Coal | Metals and Mining |
| Davita | Healthcare |
| CCO Holdings | Media Cable |
| Iron Mountain Inc. | Technology |
| Mediacom LLC | Media Cable |
| Teekay Shipping Corp | Transportation |
| Suburban Propane | Distributors Energy |
| US Airways | Airlines |
