Holding Performance

1%-0% 2%-1% 3%-2% 4%-3% 5%-4% 6%-5%

Top 25 Holdings	Portfolio Weight %	Shares Owned	Shares Change	Sector	Mkt Cap (Mil)	Total Ret YTD (Daily)
Merck & Co Inc	2.09	35,750,000	5,750,000		1,581.22	11.48
General Electric Co	1.53	50,000,000	0		1,156.00	13.20
Wells Fargo & Co	1.51	30,798,853	0		1,139.25	19.22
Exelon Corp	1.37	30,000,000	6,500,000		1,034.40	20.46
Duke Energy Corporation	1.35	14,000,000	0		1,016.26	14.20
Texas Competitive Electric Hol	1.33	1,409,629,775	0	---	1,004.35	--
Johnson & Johnson	1.30	12,000,000	0		978.36	26.42
Jpmorgan Chase FRN	1.24	815,000,000	0	---	937.73	--
BP PLC ADR	1.23	22,000,000	1,000,000		931.70	6.82
Roche Holding AG	1.23	4,000,000	0		930.97	26.48
JPMorgan Chase & Co	1.19	19,000,000	0		901.74	20.29
First Data 11.25%	1.19	890,000,000	-25,000,000	---	898.90	--
Bk Amer Pfd	1.15	714,118	0	---	869.91	--
Pfizer Inc	1.07	28,000,000	0		808.08	16.35
Dow Chemical Co	1.05	25,000,000	0		796.00	11.14
Royal Dutch Shell PLC ADR Class A	1.04	12,000,000	2,000,000		781.92	0.65
PG&E Corp	1.00	17,000,000	500,000		757.01	18.55
AT&T Inc	0.97	20,000,000	0		733.80	13.08
Southern Co	0.94	15,054,000	3,054,000		706.33	10.72
Sempra Energy	0.89	8,400,000	0		671.50	20.14
Wells Fargo & Co, San Francisco Ca Pfd	0.88	512,900	0	---	663.18	--
Chevron Corp	0.87	5,500,000	0		653.51	17.14
Clear Channel Communications I	0.84	714,988,084	714,988,084	---	635.45	--
Dynegy Inc	0.83	26,058,906	0		625.15	27.97
First Data 12.625%	0.82	570,000,000	0	---	620.59	--