Top 10 Holdings*

as of June 30, 2008

Ticker Security Description Percentage of Market Value
WMB WILLIAMS COS 9.00%
DYN DYNEGY INC. 7.70%
ADM ARCHER-DANIELS-MIDLAND 7.00%
HON HONEYWELL INTERNATIONAL 6.80%
CSCO CISCO SYSTEMS INC. 6.50%
KBR KBR INC. 6.40%
BA BOEING 5.80%
MSFT MICROSOFT CORP. 5.40%
HPQ HEWLETT-PACKARD 5.20%
SHW SHERWIN WILLIAMS CO. 4.40%

*Holdings are subject to change