-0.02Top Equity Holdings
December 31, 2011
| Company Name | Industry | Percent Invested |
| Philip Morris International | Tobacco | 3.1 |
| Apollo Group | Education & Training Services | 1.4 |
| The Travelers Companies Inc. | Property & Casualty Insurance | 1.3 |
| Wal Mart Stores | Discount, Variety Stores | 1.3 |
| Pepsico Inc. | Beverages – Soft Drinks | 1.2 |
| Marsh & McLennan Co. | Insurance Brokers | 1.2 |
| Unitedhealth Group Inc. | Health Care Plans | 1.2 |
| Microsoft Corp. | Application Software | 1.1 |
| Altria Group | Consumer Goods – Cigarettes | 1.1 |
| Johnson & Johnson | Drug Manufacturers – Major | 1.1 |