| Name of Bond | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| MS CPI&SPX FLOATING | 19,185 | 21,025 |
| MS CONTINGENT COUPON | 50,000 | 64,958 |
| MS 8.0% CONTINGENT | 71,381 | 101,891 |
| JPMORGAN CHASE | 50,041 | 54,500 |
| APPLE | 50,164 | 55,060 |
| TIME WARNER CABLE | 25,035 | 25,355 |
| KINDER MORGAN ENERGY PARTNERS | 24,912 | 26,059 |
| FORD MOTOR CREDIT COMPANY | 25,133 | 24,802 |
| DIRECTV HOLDING | 25,140 | 26,566 |
| TAPESTRY | 23,951 | 26,821 |