Shares
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|
|
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(000)
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Value*
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Semi-conductors-3.1%
|
|
|
|
|
|
355
|
|
Intel Corp.
|
|
|
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$7,891,170
|
289
|
|
Texas Instruments, Inc.
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8,421,408
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|
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|
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16,312,578
|
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Software-3.0%
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261
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|
Microsoft Corp.
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|
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7,429,460
|
394
|
|
Oracle Corp. (a) (c)
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8,208,645
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15,638,105
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Telecommunications-6.2%
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|
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156
|
|
Harris Corp.
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8,401,665
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267
|
|
Juniper Networks, Inc. (c)
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|
|
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7,366,254
|
206
|
|
Qualcomm, Inc. (a)
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|
|
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8,910,097
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202
|
|
Verizon Communications, Inc.
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|
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7,772,960
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32,450,976
|
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Total Common Stock (cost-$353,077,064)
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320,885,937
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CONVERTIBLE PREFERRED STOCK-26.4%
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Credit Rating
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(Moody's/S&P)
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Agriculture-1.0%
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39
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Bunge Ltd., 4.875%, 12/31/49
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Ba1/BB
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5,378,650
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Automotive-0.8%
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214
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|
General Motors Corp., 6.25%, 7/15/33, Ser. C
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Caa1/B-
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3,976,401
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Banking-3.7%
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4
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Bank of America Corp., 7.25%, 12/31/49, Ser. L
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A1/A+
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4,410,900
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Wachovia Corp,
|
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134
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|
13.15%, 3/30/09, Ser. GE (General Electric Co.) (d)
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Aa3/AA-
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4,429,269
|
103
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|
14.10%, 4/1/09, Ser. JPM (JP Morgan Chase & Co.) (d)
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Aa3/AA-
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4,861,445
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43
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Wells Fargo & Co., 8.00%, 6/1/08, Ser. AAPL (Apple, Inc.) (d)
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Aa1/AA+
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5,801,680
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19,503,294
|
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Commercial Services-0.6%
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102
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United Rentals, Inc., 6.50%, 8/1/28
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B3/B-
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3,054,291
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Diversified Financial Services-8.2%
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61
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Citigroup Funding, Inc., 4.583%, 9/27/08, Ser. GNW (Genworth Financial, Inc.) (b) (d)
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Aa3/AA-
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1,459,773
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Credit Suisse Group,
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174
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|
11.00%, 3/16/09, Ser. MSFT (Microsoft Corp.) (d)
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Aa1/AA-
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|
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4,788,621
|
72
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|
11.00%, 4/25/09, Ser. KO (Coca-Cola Corp.) (d)
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Aa1/AA-
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4,610,876
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Eksportfinans AS,
|
|
|
|
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102
|
|
10.00%, 3/12/09, Ser. HPQ (Hewlett Packard Co.) (d)
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Aaa/AA
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4,504,508
|
288
|
|
13.00%, 11/1/08, Ser. TWX (Time Warner, Inc.) (d)
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Aaa/A+
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4,195,355
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Goldman Sachs Group, Inc.,
|
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199
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|
9.75%, 12/19/08, Ser. CSCO (Cisco Systems, Inc.) (d)
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Aa3/NR
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5,033,971
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146
|
|
Lazard Ltd., 6.625%, 5/15/08
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Ba1/NR
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4,728,618
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Lehman Brothers Holdings, Inc.,
|
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209
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|
6.00%, 10/12/10, Ser. GIS (General Mills, Inc.) (d)
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A1/A+
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4,975,965
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68
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|
8.50%, 8/25/08, Ser. UTX (United Technologies Corp.) (d)
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A1/A+
|
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4,617,675
|
33
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|
28.00%, 3/6/09, Ser. RIG (Transocean, Inc.) (d)
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A1/A+
|
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3,635,256
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42,550,618
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Electric-3.1%
|
|
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|
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|
103
|
|
AES Trust III, 6.75%, 10/15/29
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B3/B-
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4,856,130
|
82
|
|
Entergy Corp., 7.625%, 2/17/09
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NR/BBB
|
|
|
5,522,123
|
15
|
|
NRG Energy, Inc., 5.75%, 3/16/09
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|
B2/CCC+
|
|
|
5,657,840
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|
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16,036,093
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Hand/Machine Tools-0.9%
|
|
|
|
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|
5
|
|
Stanley Works, 6.53%, 5/17/12 (b)
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A2/A
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4,538,300
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|
Insurance-2.4%
|
|
|
|
|
|
157
|
|
Metlife, Inc., 6.375%, 8/15/08
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|
NR/BBB+
|
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|
4,625,964
|
165
|
|
Platinum Underwriters Holdings Ltd., 6.00%, 2/15/09, Ser. A
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|
NR/BB+
|
|
|
5,289,803
|
197
|
|
XL Capital Ltd., 7.00%, 2/15/09
|
|
Baa1/A-
|
|
|
2,777,418
|
|
|
|
|
|
|
|
12,693,185
|
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|
Investment Companies-1.0%
|
|
|
|
|
|
72
|
|
Vale Capital Ltd., 5.50%, 6/15/10, Ser. 1
|
|
NR/NR
|
|
|
5,320,600
|
|
|
Oil & Gas-1.0%
|
|
|
|
|
|
36
|
|
Chesapeake Energy Corp., 5.00%, 12/31/49
|
|
NR/B
|
|
|
5,236,913
|