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The Goldman Sachs 401(k) Plan

Notes to Financial Statements

December 31, 2010 and 2009

Plan Description

		The following description of The Goldman Sachs 401(k) Plan (the “Plan”) is provided for general information purposes only. Participants should refer to the Plan document, as most recently amended December 21, 2010, for a more complete description of the Plan’s provisions. Items referenced “as defined” are defined in the Plan document or separate provisions to the Plan.

		The Plan became effective on January 1, 1945 and is subject to the provisions of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”). Effective January 1, 2008, the Goldman Sachs Employees’ Profit Sharing Retirement Income Plan was amended to incorporate a 401(k) safe harbor design, and was renamed “The Goldman Sachs 401(k) Plan.” The Plan has been subsequently amended for various reasons, including to reflect changes in law.

		General

		The Plan is a defined contribution plan to which participants, in addition to rolling over contributions from other qualified plans, may elect to make pre-tax 401(k) and after-tax Roth 401(k) contributions each year based on their compensation, as determined under the Plan. The Plan offers a dollar-for-dollar Firm “Matching Contribution” of up to 4% of an eligible participant’s total compensation, capped by applicable statutory limitations. If 4% of an eligible participant’s total compensation is less than $6,000, The Goldman Sachs Group, Inc. (the “Firm”) will allocate a “Supplemental Contribution” equal to the difference. In addition to these contributions, the Firm will also allocate to each eligible participant an “Additional Retirement Contribution” up to $4,000. Collectively, the Matching, Supplemental and Additional Retirement Contributions are herein referred to as the “Firm Contributions.”

		The Plan’s “Plan Year” is the 12-month period commencing on January 1 and ending on the following December 31.

		The Plan’s Retirement Committee, as defined (the “Committee”), monitors the investment objectives and performance of the Plan’s individual investment options. The Committee consists of employees of the Firm or its affiliates, including, in some cases, senior management of the Firm or its affiliates. Participants direct their and the Firm Contributions into various investment options offered by the Plan through the Goldman Sachs Profit Sharing Master Trust (the “Master Trust”). The Plan is the sole investor in the Master Trust. Participants’ directed investments are managed in mutual funds, collective trusts and managed accounts. Hewitt Associates, LLC is the recordkeeper of the Plan.

		The Plan also offers participants the option to invest in the Stock Fund, as defined (the “Company Stock Fund”), a separately managed account, which primarily invests in shares of the Firm’s common stock. In accordance with a policy adopted by the Committee, no more than 20% of any contribution made on behalf of each participant can be invested in the Company Stock Fund. When a participant reallocates his or her total investment balance, he or she is limited to reallocating 20% of his or her total investment balance into the Company Stock Fund. In addition, participants are restricted from transferring into or out of the Company Stock Fund during the “black-out” periods that are part of the Firm’s compliance procedures designed to avoid violations of applicable securities laws.

The Goldman Sachs 401(k) Plan
Notes to Financial Statements
December 31, 2010 and 2009

		Eligibility

		Employees become eligible to make pre-tax 401(k) and after-tax Roth 401(k) contributions to the Plan as of the first day of the month after they join the Firm as employees. In addition, employees are eligible, as determined under the Plan document, to participate in the Firm Matching and Supplemental Contributions generally as of the first day of the month after they complete one Year of Service, as defined, and attaining age 21. In addition, to be eligible for the Supplemental Contribution, the employee must be employed on the last day of the Plan Year. Generally, to be eligible for the Additional Retirement Contribution, employees must have been (i) eligible for and receiving benefits under the Goldman Sachs Employees’ Pension Plan as of November 27, 2004, (ii) age 46 or older as of November 27, 2004, and (iii) employed by the Firm as of the last day of the current fiscal year.

		Vesting

		Participants are immediately fully vested in their own 401(k) contributions, the Firm Matching and Supplemental Contributions, and the earnings thereon. Participants are fully vested after three Years of Service in the Firm Profit Sharing (which were discretionary profit sharing contributions made by the Firm prior to January 1, 2008) and Additional Retirement Contributions, and the earnings thereon. Additionally, upon the earliest to occur of the following: (i) attainment of age 65 while employed by the Firm, (ii) disability retirement, (iii) death or (iv) Plan termination, each participant or beneficiary will be 100% vested and may receive a lump-sum amount equal to the value of the funds allocated to the account or may receive periodic distributions from the Plan. Forfeitures of terminated participants’ non-vested Firm Profit Sharing and Additional Retirement Contributions can be used to reduce employer contributions. For the years ended December 31, 2010 and 2009, forfeited non-vested accounts totaled $180,405 and $351,882, respectively, and, in part, have been used to reduce employer contributions.

		Benefits

		Any benefits provided by the Plan are paid from net assets available for benefits. The benefit to which a Plan participant is entitled equals the amount that can be provided by the vested contributions and net earnings thereon (including net realized and unrealized investment gains and losses) allocated to such participant’s account.

		Notes Receivable from Participants

		A participant in the Plan is permitted to borrow from $1,000 to $50,000, reduced by (i) the highest outstanding balance of loans to such participant from the Plan during the one-year period ending on the day before the date on which such new loan is made, less (ii) the outstanding balance of loans to such participant from the Plan on the date of such new loan, subject to an overall cap of the lesser of (a) one-half of the participant’s total vested account balance (including Firm Contributions) or (b) the balance in the participant’s pre-tax 401(k) and rollover contribution accounts. A participant may not borrow any amounts attributable to after-tax Roth 401(k) contributions or to the Firm Contributions. Interest on loans is fixed at prime plus one percent for the life of the respective loan. Loans generally must be repaid within five years or in some cases

The Goldman Sachs 401(k) Plan
Notes to Financial Statements
December 31, 2010 and 2009

		Expenses

		Investment advisory expenses incurred by the managed accounts and collective trusts of the Plan are borne by the Plan participants through the Plan and are included in net appreciation/ (depreciation) of investments. The investment managers of the Multi-Market Hedge Fund Option, Multi-Strategy Hedge Fund Option and Global Equity Long-Short Hedge Fund Option (each of which is a separate account managed on behalf of the Plan), charge fixed asset-based management fees plus annual incentive fees of 15% to 20% of the net investment income earned, if any, by each fund. Other administrative and custodial fees are paid by the Firm.

		Investments

		The investments of the Plan are reported at fair value. The fair value of a financial instrument is the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.

		Mutual funds and collective trusts represent investments with various investment managers. The respective fair values of these investments are determined by reference to the funds’ underlying assets, which are principally marketable equity and fixed income securities. Shares held in mutual funds traded on national securities exchanges are valued at the net asset value as of December 31, 2010 and 2009. Units held in collective trusts are valued at the unit value as reported by the investment managers as of December 31, 2010 and 2009.

		Investments in managed accounts are described below:

		Cash and short-term investments include cash and short-term interest-bearing investments with initial maturities of three months or less. Such amounts are recorded at cost, plus accrued interest.

		Common stock, preferred stock, fixed income securities, real estate investment trusts, options and futures traded in active markets on national and international securities exchanges are valued at closing prices on the last business day of each period presented. Securities traded in markets that are not considered active are valued based on quoted market prices, broker or dealer quotations, or alternative pricing sources with reasonable levels of price transparency. Securities that trade infrequently and therefore have little or no price transparency are valued using the investment manager’s best estimate of fair value.

		Forward foreign currency contracts are valued at fair value, as determined by the investment managers (or independent third parties on behalf of the investment managers), using quoted forward foreign currency exchange rates. At the end of each period presented, open contracts are valued at the current forward foreign currency exchange rates and the change in market value is recorded as an unrealized gain or loss. When the contract is closed or delivery taken, the Plan records a realized gain or loss equal to the difference between the value of the contract at the time it was opened and the value at the time it was closed.

The Goldman Sachs 401(k) Plan
Notes to Financial Statements
December 31, 2010 and 2009

		New Accounting Pronouncements

		In September 2010, the Financial Accounting Standards Board, as defined (“FASB”), issued Accounting Standard Update (“ASU”) No. 2010-25, “Reporting Loans to Participants by Defined Contribution Pension Plans.” This guidance amends the classification and measurement of loans to participants by defined contribution pension benefit plans. Previous guidance required loans to participants to be classified as plan investments, which are generally measured at fair value. ASU No. 2010-25 requires that loans to participants be classified as notes receivable from participants and measured at their unpaid principal balance plus any accrued but unpaid interest. ASU No. 2010-25 is effective for fiscal years ending after December 15, 2010 and has been applied retrospectively to all prior periods presented.

		In January 2010, the FASB issued ASU No. 2010-06, “Improving Disclosures about Fair Value Measurements.” This guidance requires separate (i) disclosure of significant transfers between Level 1 and Level 2 and the reasons for the transfers; (ii) disclosure, on a gross basis, of purchases, sales, issuances, and net settlements within Level 3, and (iii) disclosures by class of assets and liabilities. The guidance also requires a description of the valuation techniques and inputs used to measure fair value for both recurring and nonrecurring fair value measurements, and the amount of total gains or losses for the period related to fair value measurements using significant unobservable inputs (Level 3) that are attributable to the change in unrealized gains or losses relating to those assets and liabilities still held at the reporting date. This guidance is effective for reporting periods beginning after December 15, 2009, except for the Level 3 disclosure requirements, which will be effective for fiscal years beginning after December 15, 2010 and interim periods within those fiscal years. Early adoption is permitted. Since these amended principles require only additional disclosures concerning fair value measurements, adoption did not and will not affect the Plan’s Statements of Net Assets Available for Benefits or Statements of Changes in Net Assets Available for Benefits.

		In May 2011, the FASB issued ASU No. 2011-04, “Fair Value Measurements and Disclosures (Topic 820) — Amendments to Achieve Common Fair Value Measurement and Disclosure Requirements in U.S. GAAP and IFRSs.” ASU No. 2011-04 clarifies the application of existing fair value measurement and disclosure requirements and changes certain principles related to measuring fair value and disclosing information about fair value measurements. The ASU is effective for periods beginning after December 15, 2011, and adoption is not expected to have a significant impact on the Plan’s Statement of Net Assets Available for Benefits or Statement of Changes in Net Assets Available for Plan Benefits.

The Goldman Sachs 401(k) Plan
Notes to Financial Statements
December 31, 2010 and 2009

Basis and frequency of determining interest crediting rates

The wrap contract crediting rates are reset on a staggered, quarterly basis, with one of the three contracts resetting every month.

Traditional GICs do not reset their crediting rates.

Minimum crediting rates

Wrap contracts provide an interest rate floor of zero percent.

Relationship between future crediting rates and adjustment between fair value (market value) and contract value

The crediting rate of the wrap contracts will track current market yields on a trailing basis. The rate reset allows the contract value of the underlying assets to converge to the market value over time, assuming the market value continues to earn the current portfolio yield for a period of time equal to the current portfolio duration.

Limitations on the ability of the Fund to transact at contract value

The benefit-responsive investment contracts, including the traditional GICs and wrap contracts, which are agreements with insurance companies and other financial institutions, are designed to help preserve principal and provide a stable crediting rate. These contracts are fully benefit-responsive and provide that Plan participant-initiated withdrawals permitted under the Plan will be paid at contract value. In addition to certain wrap agreement termination provisions discussed below, wrap contracts provide for withdrawals associated with certain events which are not in the ordinary course of Plan operations, and that the issuer determines will have a material adverse effect on the issuer’s financial interest, will be paid with a market value adjustment to the contract value amount of such withdrawal as defined in such contracts. While each contract issuer specifies the events which may trigger such a market value adjustment, such events include all of the following: (i) amendments to the Plan documents or Plan’s administration; (ii) changes to the Plan’s prohibition on competing investment options or deletion of equity wash provisions; (iii) complete or partial termination of the Plan or its merger with another plan; (iv) failure of the Plan or its trust to qualify for exemption from federal income taxes or any required prohibited transaction exemption under ERISA; (v) any change in law, regulation, ruling, administrative or judicial position or accounting requirement, in any case applicable to the Plan or fund; (vi) the delivery of any communication to Plan participants designed to influence a participant not to invest in the fund; and (vii) unless made in accordance with the withdrawal provisions of the Plan, the withdrawal from the wrap contract at the direction of the Plan sponsor (“employer-initiated event¹”). At this time, the Plan Sponsor does not believe that the occurrence of any such market value event, which would limit the Fund’s ability to transact at contract value with participants, is probable.

For purposes of the Plan’s contracts, “employer-initiated events” are defined as follows: (i) a change of employment status due to (a) the transfer or other change of employment from an employer to a parent, subsidiary or any company under common ownership or control with the employer or (b) a spin-off, sale or merger of any unit of the employer where a withdrawal is the result of a transfer to another plan unless, in any of these cases, there is a cessation of employment constituting a “separation from service” for purposes of Section 401(k) or Section 402 of the

The Goldman Sachs 401(k) Plan
Notes to Financial Statements
December 31, 2010 and 2009

Internal Revenue Code of 1986, as amended; (ii) a partial or full Plan termination which is not the result of financial hardship, such as a court ordered liquidation under applicable bankruptcy or insolvency statutes; (iii) any change in law, regulation, ruling, administrative or judicial position or accounting requirement, in any case applicable to the Plan or fund; and (iv) the delivery of any communication to Plan participants designed to influence a participant not to invest in the fund.

Terminations at other than contract value

GICs generally do not permit issuers to terminate the agreement prior to the scheduled maturity date. Wrap contracts are evergreen contracts that contain termination provisions. Wrap agreements permit the Fund’s investment manager to terminate upon notice at any time at market value and provide for automatic termination of the wrap contract if the contract value or the market value of the contract equals zero. The issuer is not excused from paying the excess contract value when the market value equals zero. Wrap contracts permit the issuer to terminate at market value and provide that the Fund may elect to convert such termination to an Amortization Election as described below. In addition, if the Fund defaults in its obligations under the agreement (including the issuer’s determination that the agreement constitutes a non-exempt prohibited transaction as defined under ERISA) and such default is not cured within the time permitted by any cure period, then the wrap contract may be terminated by the issuer and the Fund will receive the market value as of the date of termination. The wrap contracts permit the issuer or investment manager to elect at any time to convert the underlying assets to a declining duration strategy whereby the contract would terminate at a date which corresponds to the duration of the underlying assets on the date of the amortization election (“Amortization Election”) or such other date agreed upon by the investment manager and wrap provider. After the effective date of an Amortization Election, the underlying assets must conform to the guidelines agreed upon by the wrap issuer and the investment manager for the Amortization Election period. Such guidelines are intended to result in contract value equaling market value of the underlying assets by such termination date.

Average yield calculation
Average yields for Stable Value Fund


	Year Ended December
	2010			2009
Based on actual earnings ¹		1.82	%		3.08	%
Based on interest rate credited to participants ²		1.41	%		1.11	%


1.		Computed by dividing the annualized one-day actual earnings of the Fund on the last day of the Plan Year by the fair value of the investments of the Fund on the same date.

2.		Computed by dividing the annualized one-day earnings credited to participants in the Fund on the last day of the Plan Year by the fair value of the investments of the Fund on the same date.

The Goldman Sachs 401(k) Plan
Notes to Financial Statements
December 31, 2010 and 2009

Related Party Transactions

An affiliate of the Firm manages several mutual fund investment options within the Plan. These investments include the Treasury Money Market and Money Market, Short Duration Bond, Core Bond, High Yield Bond, Large Cap Structured Equity, Large Cap Value Equity, Large Cap Growth Equity, Mid Cap Growth Equity, Mid Cap Value Equity, and Real Estate Equity funds, each of which is an investment company registered under the Investment Company Act of 1940. No fees were paid, or were payable by the Plan for investment management services relating to these funds for the years ended December 31, 2010 and 2009; however, investment advisory fees may be paid from the funds to the Firm or its affiliates.

In addition, an affiliate of the Trustee manages several investment options within the Plan. These investments include the S&P 500 Index, Mid Cap Equity Index, Small Cap Equity Index, and Emerging Markets Index Funds, each of which is a bank collective trust fund. Fees associated with the management of these funds qualify as party-in-interest transactions. An affiliate of the Trustee also served as a counterparty to one of the Plan’s synthetic investment contracts at December 31, 2010 and 2009.

The Plan has invested in the Company Stock Fund, which primarily invests in shares of the Firm’s common stock. As of December 31, 2010 and 2009, the Plan’s interest in the Company Stock Fund represented 619,639 and 586,704 shares of the Firm’s common stock with a fair market value of $104,198,494 and $99,059,103, respectively. Purchases of $9,632,836 and $6,294,479 and sales of $4,937,481 and $5,281,833 of the Firm’s common stock were made through the Company Stock Fund during the years ended December 31, 2010 and 2009, respectively. The Company Stock Fund is managed by an affiliate of the Trustee.

Plan Termination

The Firm intends to continue the Plan indefinitely but reserves the right to discontinue or amend the Plan at any time subject to the provisions of ERISA. In the event of discontinuance, affected participants will become fully vested in the Firm Contributions and the related investment income as required by ERISA.

Income Tax Status

The Internal Revenue Service has determined and informed the Firm by a letter dated September 23, 2002 that the Plan and Master Trust are designed in accordance with applicable sections of the Internal Revenue Code. Although the Plan has been amended since the receipt of the letter, Plan management and legal counsel for the Plan believe that the Plan continues to be designed and operated in all material respects in compliance with the applicable requirements of the Internal Revenue Code. On January 28, 2011, a new application was submitted to the Internal Revenue Service to re-affirm that the Plan is and continues to be designed in accordance with applicable sections of the Internal Revenue Code.

Goldman Sachs 401(k) Plan
Schedule H, Line 4i — Schedule of Assets (Held at End of Year)
December 31, 2010


Identity of issue, borrower, lessor, or similar party including Maturity Date, Rate	Shares/ Par
of Interest, Collateral, Par, or Maturity Value	Value		Current Value
Common Collectives
BLACKROCK/20+ TREASURY BOND FUND FUND		1,199,500		32,074,630
BLACKROCK/LIFEPATH IDX RETIREMENT FUND		561,400		6,242,772
BLACKROCK/LIFEPATH INDEX 2015 FUND		1,578,979		16,768,754
BLACKROCK/LIFEPATH INDEX 2020 FUND		2,197,305		22,873,940
BLACKROCK/LIFEPATH INDEX 2025 FUND		2,675,866		27,347,346
BLACKROCK/LIFEPATH INDEX 2030 FUND		3,273,374		32,864,678
BLACKROCK/LIFEPATH INDEX 2035 FUND		3,619,859		35,728,005
BLACKROCK/LIFEPATH INDEX 2040 FUND		3,700,473		35,931,594
BLACKROCK/LIFEPATH INDEX 2045 FUND		4,178,220		39,943,785
BLACKROCK/LIFEPATH INDEX 2050 FUND		1,641,252		15,690,369
BLACKROCK/EQUITY GROWTH FUND		4,468,848		48,621,071
BLACKROCK/EQUITY VALUE FUND		4,770,644		67,933,964
ISHARES RUSSELL 2000 INDEX FUND		27,300		2,135,679
STATE STREET GLOBAL ADVISORS/S&P 400 MIDCAP INDEX		5,383,145		83,605,628
STATE STREET GLOBAL ADVISORS/DAILY EMERGING MARKETS INDEX FUND		6,038,907		171,951,828
STATE STREET GLOBAL ADVISORS/S&P 500 INDEX FUND		13,969,255		337,650,860
STATE STREET GLOBAL ADVISORS/SMALL CAP EQUITY INDEX		3,515,662		97,433,045
GOLDMAN SACHS FINANCIAL SQUARE MONEY MKT		430,149,727		430,149,727


Total Common Collectives		492,949,715		1,504,947,677


Mutual Funds
EMERGING MARKET DEBT		371,741		3,773,168
GMO INTERNATIONAL INTRINSIC VALUE FUND		8,476,490		185,211,313
GOLDMAN SACHS SHORT DURATION GOVERNMENT FUND		8,589,080		87,780,393
WESTERN ASSET CORE PLUS BOND PORTFOLIO		7,889,383		85,047,553
GOLDMAN SACHS STRUCTURED US EQUITY FUND		3,766,799		89,838,164
GOLDMAN SACHS MID CAP VALUE FUND		7,627,683		275,740,735
GOLDMAN SACHS HIGH YIELD FUND		15,689,141		114,530,727
GOLDMAN SACHS CAPITAL GROWTH FUND		3,109,675		69,065,892
GOLDMAN SACHS LARGE CAP VALUE FUND		7,136,511		84,853,116
GOLDMAN SACHS CORE FIXED INCOME FUND		5,862,014		57,682,219
GOLDMAN SACHS GROWTH OPPORTUNITIES FUND		3,179,048		77,409,807
GOLDMAN SACHS REAL ESTATE SECURITIES FUND		9,320,442		117,623,976
OPPENHEIMER COMMODITY STRATEGY FUND		18,439,946		67,674,603
GOLDMAN SACHS FINANCIAL SQUARE TREASURY OBLIGATIONS FUND		38,769,512		38,769,512
GOLDMAN SACHS FINANCIAL SQUARE TREASURY OBLIGATIONS FUND		10,426,161		108,432,078


Total Mutual Funds		148,653,626		1,463,433,256


Managed Accounts
COMMON COLLECTIVES
MARTIN CURRIE BUSINESS TRUST		750,462		4,120,036
MARTIN CURRIE BUSINESS TR		336,225		2,111,492


Total Managed Accounts Common Collectives		1,086,687		6,231,527


Dwight Stable Value Fund Common Collective
GOLDMAN SACHS FINANCIAL SQUARE MONEY MKT		4,154,337		4,154,337

Synthetic Investment Contracts — Dwight
IXIS FINANCIAL PRODUCTS		207,368,969		202,881,602
MONUMENTAL LIFE		207,378,885		202,891,304
STATE STREET SYNTHETIC		207,306,720		202,820,701


Total Dwight Stable Value Fund Common Collective		626,208,911		612,747,944


Identity of issue, borrower, lessor, or similar party including Maturity Date, Rate of	Shares/ Par
Interest, Collateral, Par, or Maturity Value	Value			Current Value
Common Stock
3M CO		62,685			5,409,716
7 DAYS GROUP HOLDINGS LT-ADR		10,840			230,892
AARON’S INC		(29,970	)		(611,088	)
ABB LTD-REG		56,530			1,261,133
ABBOTT LABORATORIES		10,175			487,484
ABERCROMBIE & FITCH CO		15,560			896,723
ABIOMED INC		110,300			1,059,983
ABITIBIBOWATER INC/NEW		18,000			426,060
ACCENTURE PLC-CL A		(2,093	)		(101,490	)
ACCO BRANDS CORP		62,500			532,500
ACE AVIATION HOLDINGS INC-A		4,063			52,185
ACE LTD		32,100			1,998,225
ACERGY SA		(14,036	)		(344,646	)
ACME PACKET INC		17,134			910,843
ACUITY BRANDS INC		13,900			801,613
ADECCO SA-REG		(121,978	)		(8,001,663	)
ADELPHIA CONTINGENT CVV 1		2,946,191			29,462
ADELPHIA CONTINGENT CVV 4		2,537,894			0
ADELPHIA CONTINGENT CVV 6D		620,000			0
ADELPHIA CONTINGENT CVV 6E/F		4,855,113			0
ADIDAS AG		17,844			1,172,376
ADOBE SYSTEMS INC		(2,093	)		(64,423	)
ADTRAN INC		46,966			1,700,639
ADVANCE AUTO PARTS		(6,435	)		(425,675	)
ADVANCED MICRO DEVICES INC		(376	)		(3,076	)
AEGON NV		450,600			—
AERCAP HOLDINGS NV		22,810			322,077
AEROFLEX HOLDING CORP		7,000			115,150
AES CORP		84,400			1,027,992
AFC ENTERPRISES		42,400			589,360
AFRICAN MINERALS LTD		81,000			531,635
AGRICULTURAL BANK OF CHINA		1,755,080			880,577
AGRICULTURAL BANK OF CHINA-H		(1,166,000	)		(585,025	)
AIA GROUP LTD		914,680			2,571,166
AIR CANADA-CLASS A		5,903			20,451
AIR CANADA-CLASS B		33,583			116,350
AIR PRODUCTS + CHEMICALS INC		3,515			319,689
AIRASIA BHD		946,902			776,929
AIRGAS INC		30,366			1,896,660
AIRTRAN HOLDINGS CO		(30,244	)		(223,503	)
AIXTRON SE		19,025			707,885
AIXTRON SE ADR		(7,792	)		(289,862	)
AKFEN HOLDING AS		38,200			310,266
ALBEMARLE CORP		8,816			491,756
ALCOA INC		(64,248	)		(988,777	)
ALCON INC		39,886			6,517,372
ALFA LAVAL AB		33,321			703,591
ALIBABA.COM LTD		(211,960	)		(380,121	)
ALKERMES INC		23,000			282,440
ALLERGAN INC		(1,819	)		(124,911	)
ALLIANCE DATA SYSTEMS CORP		(10,619	)		(754,268	)
ALLIED WORLD ASSURANCE CO		28,182			1,675,138
ALLSCRIPTS HEALTHCARE SOLUTI		39,980			770,415
ALPINE ELECTRONICS INC		14,448			205,713
ALTISOURCE PORTFOLIO SOL		79,100			2,270,961
ALUMINUM CORP OF CHINA		(120,000	)		(109,456	)
AMAZON.COM INC		25,177			4,531,860
AMBUJA CEMENT REG S GDR		195,124			625,022
AMBUJA CEMENTS LTD		251,670			803,723
AMDOCS LTD		63,896			1,755,223
AMERICA MOVIL ADR SERIES L		60,433			3,465,228
AMERICAN EXPRESS CO		34,714			1,489,925
AMERICAN SUPERCONDUCTOR CORP		(32,954	)		(942,155	)
AMERIS BANCORP		27,694			291,895
AMGEN INC		1,295			71,096
AMIL PARTICIPACOES SA		78,999			847,098
AMLIN PLC		171,892			1,100,443
AMMB HOLDINGS BHD		355,070			809,516
AMPHENOL CORP-CL A		(909	)		(47,977	)
AMR CORP		8,395			65,397
ANADARKO PETROLEUM CORP		47,173			3,592,696
ANADIGICS INC		84,400			584,892
ANADOLU EFES BIRACILIK		110,046			1,673,214
ANALOGIC CORP		17,700			876,327
ANDHRA BANK		232,269			781,762
ANGANG STEEL CO LTD-H		(194,000	)		(297,002	)
ANGLO AMERICAN PLC		176,826			9,167,716
ANGLO IRISH BANK CORP PLC		43,800			642,996
ANGLOGOLD ASHANTI-SPON ADR		5,970			293,903
ANHEUSER-BUSCH INBEV NV		55,291			3,166,835


Identity of issue, borrower, lessor, or similar party including Maturity Date, Rate of	Shares/ Par
Interest, Collateral, Par, or Maturity Value	Value			Current Value
ANHUI CONCH CEMENT CO LTD H		576,247			2,701,970
ANNALY MORTGAGE MANAGMENT		(35,256	)		(631,788	)
ANNTAYLOR STORES CORP		33,700			923,043
AOL INC NEW		(1,155	)		(27,385	)
APACHE CORP		16,255			1,938,084
APOLLO GROUP INC		66,288			2,617,713
APPLE INC		26,504			8,549,130
APPLIED INDUSTRIAL TECH INC		15,700			509,936
ARCELORMITTAL		(112,445	)		(4,267,577	)
ARCHER-DANIELS-MIDLAND CO		9,450			284,256
ARDEA BIOSCIENCES INC		2,900			75,400
ARENA PHARMACEUTICALS INC		83,600			143,792
ARTHROCARE CORP		12,900			400,674
ARTIO GLOBAL INVESTORS INC		5,430			80,093
ARVINMERITOR INC		(36,630	)		(751,648	)
ARYZTA AG		24,847			1,148,279
ARYZTA AG COR USD		8,282			382,744
ASSURANT INC		3,290			126,731
ASTRAZENECA PLC-SPONS ADR		(2,740	)		(126,561	)
AT&T INC		(20,030	)		(588,481	)
ATLAS ENERGY INC		372,408			16,374,780
ATLAS PIPELINE PARTNERS LP		286,700			7,072,889
ATMEL CORP		2,093			25,786
ATOS ORIGIN SA		3,933			209,543
AUTONATION INC		(45,624	)		(1,286,597	)
AUXILIUM PHARMACEUTICALS INC		3,100			65,410
AV CONCEPT HOLDINGS LTD		608,000			139,231
AVAGO TECHNOLOGIES LTD		31,300			889,311
AVALONBAY COMMUNITIES INC		(1,216	)		(136,861	)
AVANIR PHARMACEUTICALS INC A		16,400			66,912
AVIS BUDGET GROUP INC		(90,498	)		(1,408,149	)
AXA		2,202			36,662
AXIS BANK LTD		70,474			2,124,070
BABCOCK & WILCOX COMPANY		7,859			201,112
BADGER METER INC		2,200			97,284
BAE SYSTEMS PLC		159,637			653,432
BAIDU INC SPON ADR		28,805			2,780,547
BAJAJ AUTO LTD		21,992			754,092
BALLY TECHNOLOGIES INC		8,200			345,958
BANCO BILBAO VIZCAYA ARGENTARIA		(415,121	)		(4,196,868	)
BANCO DO BRASIL S.A.		53,504			1,012,708
BANCO DO BRASIL SA SPON ADR		64,900			1,265,550
BANCO MACRO SA ADR		11,600			582,320
BANCO SANTANDER (BRASIL) SA		52,856			718,014
BANCO SANTANDER BRASIL ADS		194,440			2,644,384
BANCOLOMBIA S.A. SPONS ADR		17,897			1,108,003
BANCOLOMBIA SA		24,800			381,042
BANGKOK BANK PCL FOREIGN REG		239,000			1,209,073
BANK OF AMERICA CORP		59,175			789,395
BANK OF CHINA LTD — H		(515,000	)		(271,645	)
BANK OF KENTUCKY FINL CORP		7,700			149,457
BANK OF MONTREAL		(4,188	)		(241,742	)
BANK OF NEW YORK MELLON CORP		85,595			2,584,969
BANK OF YOKOHAMA LTD/THE		236,000			1,225,029
BANK RAKYAT INDONESIA PERSER		1,408,834			1,641,815
BARCLAYS PLC		388,916			1,593,204
BASF SE		22,705			1,818,457
BAXTER INTERNATIONAL INC		5,075			256,897
BAYERISCHE MOTOREN WERKE AG		7,303			574,747
BB&T CORP		(62,128	)		(1,633,345	)
BBMG CORPORATION — H		316,500			429,166
BE AEROSPACE INC		23,177			858,244
BEAR STEARNS COMPANIES INC ESC		26,594			—
BECKMAN COULTER INC		14,780			1,111,899
BECTON DICKINSON & CO		(10,434	)		(881,882	)
BED BATH & BEYOND INC		20,765			1,020,600
BEIJING ENTERPRISES HLDGS LTD		(7,000	)		(43,407	)
BENEFICIAL MUTUAL BANCORP IN		28,400			250,772
BERRY PETROLEUM CO-CLASS A		6,870			300,219
BEST BUY CO INC		13,514			463,395
BHP BILLITON LTD-SPON ADR		(3,202	)		(297,530	)
BHP BILLITON PLC ADR		47,133			3,794,207
BIDVEST GROUP LTD		78,344			1,856,240
BLACKROCK INC		38,299			7,299,023
BLACKSTONE GROUP LP/THE		117,600			1,664,040
BLUE NILE INC		(2,720	)		(155,203	)
BORGWARNER INC		(35,590	)		(2,575,292	)
BOSTON PRIVATE FINL HOLDING		64,600			423,130
BOSTON PROPERTIES INC		(6,258	)		(538,814	)
BP PLC-SPONS ADR		17,285			763,478
BRIDGESTONE CORP		61,000			1,181,081


Identity of issue, borrower, lessor, or similar party including Maturity Date, Rate of	Shares/ Par
Interest, Collateral, Par, or Maturity Value	Value			Current Value
BRITISH AMERICAN TOBACCO PLC		70,982			2,737,762
BROADCOM CORP-CL A		3,421			148,985
BROADRIDGE FINANCIAL SOLUTIO		195,700			4,291,701
BULGARI SPA		127,006			1,377,563
BUMI RESOURCES TBK PT		1,565,000			527,244
BYD CO LTD-H		(116,292	)		(611,150	)
CABELA’S INC		(14,140	)		(307,545	)
CABLEVISION SYSTEMS-NY GRP-A		95,200			3,221,568
CADENCE DESIGN SYS INC		140,900			1,163,834
CAIRN ENERGY PLC		171,545			1,128,034
CAMELOT INFORMATION SYS-ADS		24,040			575,037
CAMERON INTERNATIONAL CORP		(13,802	)		(700,175	)
CANWEST EQUITY		9,621			125,601
CAP GEMENI SA		(645	)		(30,129	)
CAPELLA EDUCATION CO		7,740			515,329
CAPITALAND LTD		(155,400	)		(448,874	)
CAPITOL FEDERAL FINANCIAL INC		15,849			188,762
CARDINAL HEALTH INC		20,928			801,752
CAREFUSION CORP		37,671			968,145
CARREFOUR SUPERMARCHE		(1,555	)		(64,153	)
CAVIUM NETWORKS INC		23,608			889,549
CBS CORP-CLASS B		(32,070	)		(610,934	)
CELADON GROUP INC		46,500			687,735
CEMEX SAB-SPONS ADR PART CER		(1,674	)		(17,929	)
CENTERSTATE BANKS INC		10,400			82,368
CENTRAL EUROPEAN MEDIA ENT-A		23,920			486,772
CENTRAL PATTANA PUB CO FOREI		709,000			629,151
CEPHALON INC		(18,103	)		(1,117,317	)
CERNER CORP		(7,087	)		(671,422	)
CF INDUSTRIES HOLDINGS INC		3,139			424,236
CHARMING SHOPPES		398,700			1,415,385
CHEESECAKE FACTORY INC/THE		25,700			787,962
CHEMED CORP		(671	)		(42,615	)
CHEMICAL FINANCIAL CORP		1,049			23,235
CHESAPEAKE ENERGY CORP		456			11,815
CHEVRON CORP		(1,046	)		(95,448	)
CHILDREN S PLACE		15,559			772,349
CHINA COMMUNICATIONS CONSTRUCTION		49,000			42,866
CHINA CONSTRUCTION BANK-H		(878,730	)		(787,952	)
CHINA FOODS LTD		136,089			86,657
CHINA HIGH PRECISION AUTOMATION GROUP LTD		292,000			230,655
CHINA ITS HOLDINGS CO LTD		212,000			147,279
CHINA LIANSU GROUP HOLDINGS		246,000			198,117
CHINA LIFE INSURANCE CO H		245,000			999,080
CHINA LODGING GROUP-SPON ADS		7,080			154,202
CHINA LONGYUAN POWER GROUP-H		(123,000	)		(112,509	)
CHINA MEDICAL TECH-SPON ADR		(1,735	)		(19,501	)
CHINA MENGNIU DAIRY CO		(20,000	)		(53,004	)
CHINA MERCHANTS BANK — H		438,946			1,116,657
CHINA MERCHANTS HOLDINGS INTL		219,434			866,659
CHINA MOBILE LTD		332,198			3,301,190
CHINA NATURAL GAS INC		(6,617	)		(36,460	)
CHINA NEW TOWN DEVELOPMENT		2,144,651			215,496
CHINA NUOKANG BIO ADR		4,490			17,017
CHINA OVERSEAS LAND + INVEST		622,251			1,152,665
CHINA PETROLEUM & CHEM-ADR		1,137			108,800
CHINA PETROLEUM & CHEMICAL-H		(120,900	)		(115,721	)
CHINA RESOURCES ENTERPRISES		678,280			2,779,031
CHINA SHENHUA ENERGY CO — H		537,520			2,254,236
CHINA SUNTIEN GREEN ENERGY-H		24,000			6,762
CHINA YUCHAI INTL LTD		35,500			1,124,995
CHINA YURUN FOOD GROUP LTD		(22,000	)		(72,314	)
CHIQUITA BRANDS INTL		(16,185	)		(226,914	)
CHONGQING RURAL COMMERCIAL-H		762,990			513,365
CHROMA ATE INC		14,000			41,823
CHUBB CORP		2,510			149,696
CHUO MITSUI TRUST HOLDINGS		135,000			560,283
CIA BRASILEIRA SP ADR PREF A		12,222			513,080
CIA SIDERURGICA NACIONAL SA		73,242			1,176,725
CIENA CORP		(13,470	)		(283,544	)
CIGNA CORP		21,694			795,302
CIMB GROUP HOLDINGS BHD		701,801			1,934,590
CISCO SYSTEMS INC		15,122			305,918
CITI TRENDS INC		45,100			1,107,205
CITIGROUP INC		1,856,820			8,782,759
CITRIX SYS INC		12,290			840,759
CITRIX SYSTEMS INC		2,511			171,778
CITY NATIONAL CORP		(5,232	)		(321,036	)
CKX INC		72,035			290,301
CLARIANT AG-REG		(1,752	)		(35,539	)
CLECO CORPORATION		34,500			1,061,220


Identity of issue, borrower, lessor, or similar party including Maturity Date, Rate of	Shares/ Par
Interest, Collateral, Par, or Maturity Value	Value			Current Value
CLOUD PEAK ENERGY INC		15,093			350,610
CMS ENERGY CORP		(62,539	)		(1,163,225	)
COBIZ FINANCIAL INC		13,800			83,904
COCA COLA HELLENIC BOTTLING		46,235			1,200,835
COCA COLA ICECEK AS		50,820			673,637
COCA-COLA ENTERPRISES (COR EUR)		30,678			767,870
COCA-COLA ENTERPRISES (COR GBP)		16,524			413,596
COCA-COLA ENTERPRISES (COR USD)		31,228			781,637
COGNIZANT TECHNOLOGY SOLUTIO		12,078			885,197
COLFAX CORP		15,800			290,878
COLLECTIVE BRANDS INC		1,856			39,162
COMCAST CORP- CL A		55,310			1,215,161
COMCAST CORP NEW		58,460			1,216,553
COMCAST CORP-CL A		26,160			574,735
COMERICA INC		20,180			852,403
COMMERCIAL INTERNATIONAL BAN		77,324			630,713
COMMERCIAL METALS CO		23,300			386,547
COMMSCOPE INC		37,404			1,167,753
COMMUNITY HEALTH SYSTEMS INC		3,901			145,780
COMPASS GROUP PLC		395,932			2,430,734
COMPLETE PRODUCTION SERVICES		(1,318	)		(38,947	)
COMVERSE TECHNOLOGY INC		181,028			1,314,263
CONAGRA FOODS INC		13,045			294,556
CONSOL ENERGY INC		(2,171	)		(105,815	)
CONSUMER STAPLES SPDR		(18,622	)		(545,811	)
CORNING INC		137,031			2,647,439
CORP MOCTEZUMA SER		142,622			355,572
COSCO CORP SINGAPORE LTD		(363,600	)		(606,283	)
COTT CORPORATION		213,000			1,919,130
COVENANT TRANSPORT GRP CL A		34,449			334,844
CP ALL PCL FOREIGN		442,928			576,710
CREDIT SUISSE GROUP AG REG		28,592			1,156,289
CROWN CASTLE INTL CORP		93,258			4,087,498
CRUCIALTEC CO LTD		6,194			262,122
CST MINING GROUP LTD		7,064,000			176,305
CSX CORP		24,946			1,611,761
CTRIP.COM INTERNATIONAL — ADR		(21,110	)		(853,900	)
CUBIC CORP		4,770			224,906
CUBIST PHARMACEUTICALS INC		14,200			303,880
CUMMINS INC		17,073			1,878,201
CURTISS WRIGHT CORP		15,153			503,080
CVS/CAREMARK CORP		62,665			2,178,862
CYPRESS BIOSCIENCE INC		27,300			176,904
CYPRESS SEMICONDUCTOR CORP		10,464			194,421
CYTOKINETICS INC		48,700			101,783
DABUR INDIA LTD		249,139			559,957
DAEWOO INTERNATIONAL CORP		1,506			48,401
DAI ICHI LIFE INSURANCE		930			1,512,447
DAI-ICHI MUTUAL LIFE INSURANCE		(234	)		(380,106	)
DAIKIN INDUSTRIES LTD		(4,158	)		(147,476	)
DAIMLER AG-REGISTERED SHARES		(3,357	)		(227,743	)
DANONE		7,325			460,595
DANSKE BANK A/S		30,976			794,727
DAVITA INC		11,342			788,156
DEAN FOODS CO		15,300			135,252
DEBENHAMS PLC		284,409			313,983
DELHAIZE GROUP		(9,695	)		(717,172	)
DELL INC		115,749			1,568,399
DENBURY RESOURCES INC		156,900			2,995,221
DEUTSCHE BANK AG-REG		20,056			1,048,697
DEUTSCHE POST		8,373			142,205
DEVELOPERS DIVERSIFIED RLTY		(14,940	)		(210,505	)
DEVON ENERGY CORPORATION		8,450			663,410
DEVRY INC DEL		6,333			303,857
DIALOG AXIATA PLC		1,673,770			179,529
DICE HOLDINGS INC		8,600			123,410
DIGITALGLOBE INC		9,422			298,772
DILLARDS INC		(14,883	)		(564,661	)
DIONEX CORP		1,616			190,704
DIRECTV-CLASS A		61,122			2,440,601
DISH NETWORK CORP-A		123,000			2,418,180
DJ STOXX 600 OPT AUTOMOBILES & PARTS		(1,812	)		(497,941	)
DJ STOXX 600 OPT BASIC RESOURCES		(361	)		(187,699	)
DJ STOXX 600 OPT CONS & MATERIALS		(255	)		(61,866	)
DJ STOXX 600 OPT FOOD & BEVERAGE		(917	)		(222,574	)
DJ STOXX 600 OPT HEALTH CARE		(4,853	)		(688,321	)
DJ STOXX 600 OPT INDUSTRIAL		(20,982	)		(3,516,663	)
DJ STOXX 600 OPT INSURANCE		(6,648	)		(385,842	)
DJ STOXX 600 OPT MEDIA		2,015			146,994
DJ STOXX 600 OPT OIL & GAS		(1,052	)		(204,273	)
DJ STOXX 600 OPT RETAIL ETF		(3,064	)		(483,053	)


Identity of issue, borrower, lessor, or similar party including Maturity Date, Rate of	Shares/ Par
Interest, Collateral, Par, or Maturity Value	Value			Current Value
DJ STOXX 600 OPT TELECOM		(5,986	)		(640,326	)
DJ STOXX 600 OPT TRAVEL & LEISURE		(2,151	)		(282,475	)
DJ STOXX 600 OPT UTILITIES		843			163,115
DJ STOXX 600 OPTIMISED BANKS		(19,633	)		(1,732,581	)
DNB NOR ASA		125,200			1,764,108
DNO INTERNATIONAL ASA		21,262			33,113
DOLBY LABORATORIES INC-CL A		(8,880	)		(592,296	)
DOLE FOOD CO INC		(81,434	)		(1,100,173	)
DOLLAR FINANCIAL CORP		49,283			1,410,972
DOLLAR GENERAL CORP		94,118			2,886,599
DOMINION RESOURCES INC/VA		109			4,656
DOMTAR CORP		41,900			3,181,048
DONGFENG MOTOR GRP CO LTD-H		68,000			117,226
DOVER CORP		5,765			336,964
DOW CHEMICAL		(11,236	)		(383,597	)
DOW CHEMICAL CO/THE		160,657			5,484,830
DREAMWORKS ANIMATION SKG-A		(6,278	)		(185,013	)
DSW INC-CLASS A		(4,875	)		(190,613	)
DULUTH METALS LTD		92,700			270,580
E*TRADE FINANCIAL CORP		272,320			4,357,120
EAST WEST BANCORP INC		26,700			521,985
EATON CORP		42,259			4,289,711
ECB BANCORP INC		369			4,970
E-COMMERCE CHINA-SPON ADR		(15,580	)		(421,751	)
EL PASO ELECTRIC CO		16,800			462,504
ELECTROLUX AB-SER B		(21,155	)		(602,051	)
ELI LILLY & CO		(32,537	)		(1,140,096	)
ELSEWEDY ELECTRIC CO		47,858			444,201
EMBOTELLADORA ANDINA ADR B		24,904			753,844
EMDEON INC CLASS A		40,100			542,954
EMULEX CORP		60,000			699,600
ENCANA CORP		48,600			1,415,232
ENERGY XXI BERMUDA		208,440			5,767,535
ENN ENERGY HOLDINGS LTD		246,457			737,122
ENSCO PLC-SPON ADR		(1,046	)		(55,835	)
ENVESTNET INC		24,000			409,440
EOG RESOURCES INC		16,022			1,464,571
EQUINOX MINERALS LTD		45,080			276,601
ERICSSON (LM) TEL-SP ADR		55,110			635,418
ERICSSON LM-B SHS		176,829			2,059,062
ERSTE BANK DER OESTER SPARK		(2,356	)		(110,715	)
ERSTE BANK DER OESTERREICHISCH		(13,099	)		(616,064	)
ESTERLINE TECHNOLOGIES CORP		7,100			486,989
EUROPEAN GOLDFIELDS LTD		13,466			188,373
EVRAZ GROUP SA — GDR REG S		(73,339	)		(2,630,670	)
EXELON CORP		(2,093	)		(87,153	)
EXLSERVICE HOLDINGS INC		89,689			1,926,520
EXPEDIA INC		(403	)		(10,111	)
EXPRESS INC		73,100			1,374,280
EXXON MOBIL CORP		5,535			404,719
FALCON OIL + GAS LTD		277,409			43,273
FASTENAL CO		(9,930	)		(594,906	)
FEDERATED INVESTORS INC-CL B		(23,180	)		(606,621	)
FEDEX CORP		13,860			1,289,119
FIAT SPA		64,261			1,325,996
FINANCIAL INSTITUTIONS INC		(1,943	)		(36,859	)
FINISAR CORPORATION		31,040			921,578
FIRST BUSEY CORP		48,370			227,339
FIRST CALIFORNIA FINANCIAL GRP INC		44,808			125,462
FIRST CITIZENS BCSHS CL A		2,200			415,910
FIRST COMMONWEALTH FINL CORP		77,855			551,213
FIRST MIDWEST BANCORP INC/IL		7,338			84,534
FIRST QUANTUM MINERALS LTD		42,975			4,670,961
FIRST TRACTOR CO-H		128,000			143,100
FLEXTRONICS INTL LTD		(63,200	)		(496,120	)
FLIR SYSTEMS INC		(20,720	)		(616,420	)
FLUOR CORP		3,020			200,105
FLUSHING FINANCIAL CORP		10,464			146,496
FOMENTO ECONOMICO MEX SP ADR		29,707			1,661,215
FORD MOTOR CO		384,054			6,448,267
FOREST CITY ENTERPRISES CL A		81,200			1,355,228
FORRESTER RESEARCH INC		12,270			433,008
FORTINET INC		12,500			404,375
FORWARD AIR CORPORATION		3,500			99,330
FOX CHASE BANCORP INC		13,050			154,643
FREEPORT MCMORAN COPPER		13,988			1,679,819
FRESENIUS MEDICAL CARE		(36,929	)		(2,134,920	)
FRESENIUS SE-PREF		22,500			957,034
FRONTEER GOLD INC		32,000			375,360
FUJI HEAVY INDUSTRIES LTD		59,000			457,759
FUSHAN INTERNATIONAL ENERGY		238,000			163,198


Identity of issue, borrower, lessor, or similar party including Maturity Date, Rate of	Shares/ Par
Interest, Collateral, Par, or Maturity Value	Value			Current Value
FXCM INC-A		5,830			77,248
GALLERY MEDIA GROUP LTD		126			—
GAMESTOP CORP NEW CLASS A		(39,860	)		(911,997	)
GANNETT CO.		(56,370	)		(850,623	)
GARMIN LTD		(42,170	)		(1,306,848	)
GAZPROM OAO-SPON ADR		29,765			751,566
GEMALTO		33,663			1,438,140
GENERAL DYNAMICS CORP		24,865			1,764,420
GENERAL GROWTH PROPERTIES		195,170			3,021,232
GENERAL MILLS INC		7,900			281,161
GENERAL MOTORS CO		278,263			10,256,774
GENESEE + WYOMING INC CL A		7,300			386,535
GENOMMA LAB INTERNACIONAL B		337,304			819,878
GENON ENERGY INC		297,800			1,134,618
GENZYME CORP		35,698			2,541,698
GEO GROUP INC/THE		35,020			863,593
GEORESOURCES INC		8,600			191,006
GERRESHEIMER AG		4,211			185,932
GILEAD SCIENCES INC		21,730			787,495
GIVEN IMAGING LTD		154,293			2,258,850
GKN PLC		564,791			1,964,838
GLOBAL DAIRY HOLDINGS LTD		317,000			107,257
GLOBAL LOGISTIC PROPERTIES LTD		248,000			417,066
GLOBALSTAR INC		14,520			21,054
GOLD FIELDS LTD SPONS ADR		63,500			1,151,255
GOLDCORP INC		(6,047	)		(278,607	)
GOLDEN AGRI-RESOURCES LTD		(1,563,000	)		(973,529	)
GOLDMAN SACHS GROUP INC		619,639			104,198,494
GOME ELECTRICAL APPLIANCES		2,478,000			892,628
GOODRICH CORP		72,994			6,428,582
GOOGLE INC		2,970			1,764,091
GREEN PLAINS RENEWABLE ENERG		30,100			338,926
GRUPO ELEKTRA SA		(1,370	)		(58,047	)
GRUPO FINANCIERO BANORTE O		48,657			231,569
GRUPO FINANCIERO INBURSA O		329,657			1,449,700
GUANGZHOU AUTOMOBILE GROUP-H		(92,687	)		(127,828	)
GUARANTY TRUST BANK GDR		110,077			648,395
HALLIBURTON CO		29,578			1,207,670
HARMONIC INC		12,200			104,554
HARTE-HANKS INC		(7,380	)		(94,243	)
HARTFORD FINANCIAL SVCS GRP		9,139			242,092
HAWAIIAN ELECTRIC INDS		(6,184	)		(140,933	)
HEALTH CARE SELECT SECTOR SPDR FUND		(32,063	)		(1,009,985	)
HEALTHSOUTH CORP		38,800			803,548
HEARTWARE INTERNATIONAL INC		13,170			1,153,297
HEIDELBERGCEMENT AG		9,538			598,217
HEINEKEN NV		26,293			1,294,181
HENDERSON LAND DEVELOPMENT		199,000			1,355,483
HENGDELI HOLDINGS LTD		1,700,000			1,012,523
HENNES & MAURITZ AB		(3,723	)		(124,272	)
HENNES & MAURITZ AB-B SHS		(10,940	)		(365,134	)
HERITAGE COMMERCE CORP		11,208			50,436
HERSHEY CO/THE		(12,026	)		(567,026	)
HERTZ GLOBAL HOLDINGS INC		(18,670	)		(270,528	)
HEWLETT-PACKARD CO		20,841			877,406
HISOFT TECHNOLOGY INT-ADR		41,559			1,255,082
HITACHI CONSTRUCTION MACHINE		(3,500	)		(83,879	)
HITTITE MICROWAVE CORP		13,900			848,456
HOCHTIEF AG		2,328			197,815
HOLCIM LTD-REG		(1,287	)		(97,383	)
HOME INNS & HOTELS MANAG-ADR		21,340			874,086
HOST HOTELS & RESORTS INC		(33,951	)		(606,704	)
HOWARD HUGHES CORP/THE		1,660			90,337
HUDSON PACIFIC PROPERTIES IN		16,600			249,830
HUNTINGTON BANCSHARES INC		(46,525	)		(319,627	)
HURON CONSULTING GROUP INC		25,800			682,410
HYNIX SEMICONDUCTOR INC		3,050			65,078
HYUNDAI HEAVY INDUSTRIES		24			9,452
IBERIA LINEAS AER DE ESPANA		490,156			2,094,277
ICF INTERNATIONAL INC		10,800			277,776
ICICI BANK LTD SPON ADR		21,139			1,070,479
IDACORP INC		22,300			824,654
ILLINOIS TOOL WORKS		6,240			333,216
ILUKA RESOURCES LTD		2,608			24,400
IMPERIAL TOBACCO GROUP PLC		36,980			1,134,588
INCHCAPE PLC		318,112			1,776,055
INCITEC PIVOT LTD		508,057			2,062,304
INCYTE CORP		32,400			536,544
IND & COMM BK OF CHINA — H		2,729,756			2,027,131
INDOCEMENT TUNGGAL PRAKARSA		932,759			1,651,222
INFORMATICA CORP		44,939			1,978,664


Identity of issue, borrower, lessor, or similar party including Maturity Date, Rate of	Shares/ Par
Interest, Collateral, Par, or Maturity Value	Value			Current Value
ING GROEP NV		172,377			1,683,518
ING GROEP NV-CVA		477,486			2,904,168
INGERSOLL-RAND PLC		(75,353	)		(3,548,373	)
INPEX CORP		375			2,197,942
INSPIRE PHARMACEUTICALS INC		8,100			68,040
INTEL CORP		(4,188	)		(88,074	)
INTERACTIVE BROKERS GRO-CL A		7,342			130,834
INTERNATIONAL BANCSHARES CRP		(2,835	)		(56,785	)
INTERPUBLIC GROUP COS		(23,857	)		(253,361	)
INTL BUSINESS MACHINES CORP		5,168			758,456
INTL CONTAINER TERM SVCS INC		856,361			879,622
INTL GAME TECHNOLOGY		(19,604	)		(346,795	)
INTL RECTIFIER CORP		17,300			513,637
IRONWOOD PHARMACEUTICALS INC		36,250			375,188
ISHARES DJ US REAL ESTATE		(30,885	)		(1,728,325	)
ISHARES FTSE CHINA 25 INDEX		(4,780	)		(205,970	)
ISHARES FTSE/ XINHUA CHINA A50 IDX		(907,900	)		(1,488,054	)
ISOFTSTONE HOLDINGS LTD-ADS		3,245			58,962
ITRON INC.		2,787			154,539
J.C. PENNEY CO INC		31,392			1,014,276
J2 GLOBAL COMMUNICATIONS INC		(14,030	)		(406,169	)
JABIL CIRCUIT INC		57,200			1,149,148
JAPAN REAL ESTATE INVESTMENT		(22	)		(228,128	)
JEFFERIES GROUP INC (NEW)		(5,223	)		(139,088	)
JETBLUE AIRWAYS CORP		77,100			509,631
JFE HOLDINGS INC		(1,900	)		(66,172	)
JOHNSON & JOHNSON		(3,395	)		(209,981	)
JPMORGAN CHASE & CO		145,318			6,164,390
JUNIPER NETWORKS INC		8,109			299,384
JYSKE BANK-REG		226			10,502
KAISER FEDERAL FINANCIAL GRP		5,755			66,643
KAKAKU.COM INC		95			565,643
KALINA		3,900			105,300
KAMAN CORP		1,137			33,053
KATANGA MINING LTD		276,323			396,808
KAYABA INDUSTRY CO LTD		55,000			421,305
KAZAKHGOLD REG S GDR		39,564			154,300
KBC GROEP NV		13,033			444,440
KEPPEL CORP		(4,000	)		(35,254	)
KEYCORP		(33,483	)		(296,325	)
KIA MOTORS CORPORATION		7,890			354,938
KIMBERLY CLARK CORP		3,145			198,261
KIRIN HOLDINGS CO LTD		136,000			1,909,919
KIRKLAND’S INC		3,800			53,314
KIWOOM SECURITIES CO LTD		4,252			217,677
KKR & CO LP		155,000			2,201,000
KKR FINANCIAL HOLDINGS LLC		703,755			6,544,922
KLA TENCOR CORPORATION		8,145			314,723
KNOLL INC		43,400			726,082
KODIAK OIL + GAS CORP		105,300			694,980
KOHLS CORP		23,165			1,258,786
KONINKLIJKE KPN NV		83,085			1,213,317
KONINKLIJKE PHILIPS ELECTRON		69,648			2,141,561
KOREA ELECTRIC POWER CORP		90,513			2,404,588
KRONOS WORLDWIDE INC		10,464			444,615
KT CORP SP ADR		68,000			1,414,400
KTB SECURITIES CO LTD		20,442			96,365
KUBOTA CORP		(15,300	)		(144,898	)
KUNLUN ENERGY CO LTD		176,000			273,068
KUONI REISEN HLDG-REG(CAT B)		274			133,302
L&L ENERGY INC.		(16,750	)		(180,900	)
LAFARGE MALAYAN CEMENT BHD		130,497			324,603
LAFARGE SA		(1,018	)		(63,876	)
LAM RESEARCH CORP		(2,281	)		(118,110	)
LDK SOLAR CO LTD — ADR		1,191			12,053
LEAP WIRELESS INTL INC		136,400			1,672,264
LEGG MASON INC		(5,943	)		(215,553	)
LEH CLAIM OZGR		1			65,710
LEIGHTON HOLDINGS LTD		51,117			1,612,795
LENNAR CORP-CL A		(17,994	)		(337,388	)
LENNOX INTERNATIONAL INC		29,500			1,395,055
LI NING CO LTD		588,295			1,248,689
LIBERTY GLOBAL INC-A		(23,481	)		(830,758	)
LIBERTY MEDIA CORP-CAP SER A		11,300			706,928
LIFE TECHNOLOGIES CORP		30,882			1,713,951
LIGAND PHARMACEUTICALS CL B		692			6,176
LINCARE HOLDINGS INC		(19,705	)		(528,685	)
LINCOLN NATIONAL CORP		105,700			2,939,517
LINDSAY CORP		3,400			202,062
LINEAR TECHNOLOGY CORP		2,489			86,095
LINN ENERGY LLC-UNITS		184,800			6,928,152


Identity of issue, borrower, lessor, or similar party including Maturity Date, Rate of	Shares/ Par
Interest, Collateral, Par, or Maturity Value	Value			Current Value
LIPPO KARAWACI TBK PT		1,468,125			111,184
LOBLAW COMPANIES LTD		42,400			1,722,627
LOCKHEED MARTIN CORP		(5,713	)		(399,396	)
LOJAS RENNER S.A.		14,034			476,818
LONGFOR PROPERTIES		322,967			449,532
LONGTOP FINANCIAL TECHNO — ADR		28,312			1,024,328
LORILLARD INC		31,400			2,576,684
LSR GROUP OJSC GDR REGS		56,500			520,365
LUKOIL OAO SPON ADR		20,317			1,147,911
LUMBER LIQUIDATORS HOLDINGS		16,400			408,524
LUPIN LTD		94,430			1,017,052
LYONDELLBASELL INDU-CL A		40,810			1,403,864
M & T BANK CORP		10,464			910,891
MACERICH CO/THE		(3,300	)		(156,321	)
MACYS INC		(2,595	)		(65,654	)
MAGELLAN HEALTH SERVICES INC		43,100			2,037,768
MAGIC HOLDINGS INTERNATIONAL		177,000			141,409
MAGNIT CLS		14,484			1,906,094
MAIDENFORM BRANDS INC		22,400			532,448
MAKHTESHIM AGAN		26,605			136,219
MAN SE		4,324			514,583
MARATHON OIL CORP		50,037			1,852,870
MARFRIG ALIMENTOS SA		63,314			591,185
MARSH + MCLENNAN COS		8,970			245,240
MARVELL TECHNOLOGY GROUP LTD		136,569			2,533,355
MASSEY ENERGY CO		20,511			1,100,415
MATERIALS SELECT SECTOR SPDR		(19,159	)		(735,897	)
MAXIM INTEGRATED PRODUCTS		(3,139	)		(74,143	)
MAZDA MOTOR CORP		(88,000	)		(252,512	)
MB FINANCIAL INC		24,100			417,412
MCDONALD S CORP		60,807			4,667,545
MCKESSON CORP		50,588			3,560,383
MEAD JOHNSON NUTRITION CO		40,135			2,498,404
MEAD JOHNSON NUTRITION CO-A		1,959			121,948
MEDCO HEALTH SOLUTIONS INC		20,620			1,263,387
MEDIATEK INC		88,644			1,269,318
MEDICINES COMPANY		15,100			213,363
MEDICIS PHARMACEUTICAL CORP		(20,130	)		(539,283	)
MEDIDATA SOLUTIONS INC.		5,840			139,459
MEDIFAST INC		15,500			447,640
MEDTRONIC INC		12,904			478,609
MEGACABLE HOLDINGS CPO		152,974			396,264
MEGASTUDY CO LTD		2,783			432,077
MELLANOX TECHNOLOGIES LTD		3,096			81,022
MERCATOR MINERALS LTD		71,800			283,632
MERCK + CO. INC.		11,875			427,975
MEREDITH CORP		(16,979	)		(588,322	)
METALLURGICAL CORP OF CHINA-H		160,000			70,603
METLIFE INC		11,300			502,172
MGIC INVESTMENT CORP		456,800			4,654,792
MICROCHIP TECHNOLOGY INC		(1,883	)		(64,417	)
MICROSEMI CORP		41,800			957,220
MICROSOFT CORP		168,720			4,710,803
MINDRAY MEDICAL INTL LTD ADR		34,500			910,800
MIPS TECHNOLOGIES INC		32,200			488,152
MITSUBISHI ESTATE CO LTD		(9,000	)		(166,921	)
MITSUBISHI UFJ FINANCIAL GRO		48,500			262,211
MITSUI FUDOSAN CO LTD		80,000			1,596,942
MIZUHO FINANCIAL GROUP INC		122,300			230,442
MOL HUNGARIAN OIL AND GAS NY		20,431			2,047,197
MOL HUNGARIAN OIL SP ADR		4,313			238,078
MOMENTA PHARMACEUTICALS INC		9,100			136,227
MONGOLIAN MINING CORP		171,000			199,533
MONSANTO CO		52,602			3,663,203
MONSTER WORLDWIDE INC		(24,761	)		(585,102	)
MOOG INC CLASS A		11,685			465,063
MORTON S RESTAURANT GROUP		76,300			494,424
MOTOROLA INC		147,527			1,338,070
MOTOROLA INC-NEW-W/I		(7,324	)		(278,678	)
MOTOROLA MOBILITY HOLDINGS-W		(18,101	)		(526,739	)
MPG OFFICE TRUST INC		24,406			67,117
MULTI FINELINE ELECTRONIX IN		10,400			275,496
MURPHY OIL CORP		(523	)		(38,990	)
MYLAN LABS INC		(4,353	)		(91,979	)
NABORS INDUSTRIES LTD		(3,532	)		(82,861	)
NAGOYA RAILROAD CO LTD		(11,000	)		(29,938	)
NANOMETRICS INC		2,000			25,660
NARA BANCORP INC		8,554			84,300
NATIONAL ENERGY		27,154			—
NATIONAL INSTRUMENTS CORP		4,300			161,852
NETAPP INC		6,233			342,566


Identity of issue, borrower, lessor, or similar party including Maturity Date, Rate of	Shares/ Par
Interest, Collateral, Par, or Maturity Value	Value			Current Value
NETBANK INC		3,362			—
NETFLIX INC		(3,180	)		(558,726	)
NEW GOLD INC		17,000			165,920
NEW WORLD DEPT STORE CHINA		383,840			316,013
NEWCREST MINING LTD		58,886			2,441,003
NEWELL RUBBERMAID INC		(3,441	)		(62,557	)
NEWMARKET CORP		4,100			505,817
NHN CORP		4,907			981,486
NIKE INC CL B		37,411			3,195,648
NIPPON YUSEN		(1,830	)		(8,113	)
NISSAN MOTOR CO LTD		92,500			880,573
NOBLE GROUP LTD		(1,063,480	)		(1,796,755	)
NOKIA CORP — SPON ADR		(24,109	)		(248,805	)
NOKIA OYJ		4,381			45,346
NORDSTROM INC		49,359			2,091,834
NORFOLK SOUTHERN CORP		51,900			3,260,358
NORTHROP GRUMMAN CORP		(5,337	)		(345,731	)
NOVARTIS AG-ADR		(7,466	)		(440,121	)
NOVATEK OAO SPONS GDR REG S		14,424			1,723,668
NOVOLIPET STEEL-GDR REG S		(2,027	)		(96,688	)
NOVOROSSIYSK GDR REG S		73,911			739,110
NPS PHARMACEUTICALS INC		6,600			52,140
NTT DOCOMO INC		1,085			1,896,961
NUVASIVE INC		29,381			753,623
NVIDIA CORP		15,084			232,294
NYSE EURONEXT		(10,464	)		(313,711	)
OASIS PETROLEUM INC		(2,093	)		(56,762	)
OCCIDENTAL PETROLEUM CORP		8,086			793,237
OCEANEERING INTL INC		(2,060	)		(151,678	)
OCWEN FINANCIAL CORP		63,800			608,652
OFFICE DEPOT INC		114,700			619,380
OFFICEMAX INC		36,900			653,130
OGX PETROLEO E GAS PARTICIPA		135,800			1,636,145
OIL SERVICES HOLDRS TRUST		(3,549	)		(498,741	)
OLIN CORP		28,600			586,872
OMEGA PROTEIN CORP		23,000			186,300
OMNICARE INC		158,100			4,014,159
ONYX PHARMACEUTICALS INC		7,100			261,777
OPTO CIRCUITS INDIA LTD		78,303			471,762
ORACLE CORP		117,069			3,664,260
ORASCOM CONSTRUCTION GDR		16,000			783,840
ORASCOM CONSTRUCTION INDS		32,656			1,615,136
ORIENT PAPER INC		(6,793	)		(43,203	)
ORIX CORP		(3,450	)		(339,477	)
OSHKOSH CORP		52,400			1,846,576
OTP BANK PLAC		(22,418	)		(540,660	)
OTSUKA HOLDINGS CO LTD		25,000			615,764
OVERSEA CHINESE BANKING CORP		196,000			1,511,635
OWENS CORNING		29,720			925,778
PACIFIC BIOSCIENCES, INC		6,420			102,142
PAGESJAUNES GROUPE SA		(28,768	)		(261,606	)
PANASONIC CORP		104,400			1,484,165
PANIN FINANCIAL TBK PT		15,326,800			357,228
PAREXEL INTERNATIONAL CORP		35,300			749,419
PARKER HANNIFIN CORP		4,275			368,933
PARKSON RETAIL GROUP LTD		528,680			813,351
PARMALAT SPA		14,313			39,239
PATRIOT COAL CORP		8,800			170,456
PAUL Y. ENGINEERING GROUP		43,283			3,564
PDF SOLUTIONS INC		29,100			140,262
PEABODY ENERGY CORP		(3,124	)		(199,874	)
PEARSON PLC		120,238			1,897,567
PENN NATIONAL GAMING INC		5,600			196,840
PENN VIRGINIA CORP		19,600			329,672
PEPSICO INC		6,480			423,338
PERSIMMON PLC		165,754			1,081,650
PETROCHINA CO LTD-H		(68,000	)		(88,882	)
PETROFAC LTD		60,592			1,505,522
PETROLEUM DEVELOPMENT CORP		58,900			2,486,169
PETROLEUM GEO-SERVICES		3,648			56,908
PETRONAS CHEMICALS GROUP BHD		80,300			143,751
PFIZER INC		126,055			2,207,223
PHARMACEUTICAL HOLDRS TRUST		(8,769	)		(569,547	)
PHARMASSET INC		22,900			994,089
PHH CORP		44,696			1,034,712
PICK N PAY STORES LTD		93,631			684,993
PIER 1 IMPORTS INC		63,430			666,015
PING AN INSURANCE GROUP CO-H		(200,000	)		(2,235,945	)
PINNACLE FINANCIAL PARTNERS		47,100			639,618
PIONEER NATURAL RESOURCES CO		(12,106	)		(1,051,043	)
PLAINS EXPLORATION & PRODUCT		172,500			5,544,150


Identity of issue, borrower, lessor, or similar party including Maturity Date, Rate of	Shares/ Par
Interest, Collateral, Par, or Maturity Value	Value			Current Value
PLATINUM UNDERWRITERS HLDGS		24,000			1,079,280
PMC — SIERRA INC		28,830			247,650
PMI GROUP INC/THE		411,900			1,359,270
PNC FINANCIAL SERVICES GROUP		35,713			2,168,493
PORTLAND GENERAL ELECTRIC CO		35,300			766,010
POTASH CORP OF SASKATCHEWAN		3,064			474,399
POTASH ONE INC		78,238			354,342
POWELL INDUSTRIES INC		7,500			246,600
POWER ONE INC		42,400			432,480
PRICELINE.COM INC		5,774			2,307,002
PROCTER + GAMBLE CO/THE		7,090			456,100
PROGRESSIVE CORP.		44,521			884,632
PROLOGIS		986			14,238
PROMOTORA DE INFO-B-ADR (COR EUR)		36,528			348,477
PROVIDENT NEW YORK BANCORP		53,130			557,334
PRUDENTIAL FINANCIAL INC		5,210			305,879
PRUDENTIAL PLC		159,504			1,668,180
PT BANK DANAMON		1,280,766			810,252
PT TELEKOMUNIKASI		2,555,917			2,255,221
PUBLIC STORAGE		837			84,889
PUDA COAL INC.		(5,021	)		(71,549	)
PYI CORP LTD		4,400,786			181,172
QBE INSURANCE GROUP LIMITED		—			—
QIAGEN N.V.		(16,530	)		(323,670	)
QIAGEN N.V.- ADR		(15,770	)		(308,304	)
QLIK TECHNOLOGIES INC		18,834			486,330
QLOGIC CORP		(6,278	)		(106,852	)
Q-MED AB		7,112			80,810
QUALCOMM INC		54,606			2,702,451
QUEST DIAGNOSTICS		4,650			250,961
QUEST SOFTWARE INC		23,600			654,664
RACKSPACE HOSTING INC		6,945			218,142
RADIAN GROUP INC		38,900			313,923
RADIOSHACK CORP		(28,741	)		(531,421	)
RAIFFEISEN BANK INTERNATIONA		(2,175	)		(119,254	)
RALCORP HOLDINGS INC		(14,020	)		(911,440	)
RAMAYANA LESTARI SENTOSA PT		2,547,697			240,349
RASPADSKAYA		193,560			1,358,791
RAYTHEON COMPANY		4,745			219,883
RED HAT INC		3,139			143,295
REED ELSEVIER NV		243,646			2,081,844
REED ELSEVIER NV COR GBP		7,349			90,976
REGAL BELOIT CORP		5,600			373,856
REGAL ENTERTAINMENT GROUP-A		129,600			1,521,504
REGENERON PHARMACEUTICALS		22,600			741,958
REHABCARE GROUP INC		21,400			507,180
RESMED INC		(24,990	)		(865,654	)
RESOLUTE ENERGY CORP		12,500			184,500
RESONA HOLDINGS INC		(41,400	)		(248,298	)
REYNOLDS AMERICAN INC		(18,434	)		(601,317	)
RHB CAPITAL BERHAD		177,400			501,679
RHODIA SA		30,963			1,028,076
RICHTEK TECHNOLOGY CORP		25,000			208,358
RICOH CO LTD		102,000			1,496,579
RIGEL PHARMACEUTICALS INC		47,100			354,663
RIO TINTO PLC-SPON ADR		(4,143	)		(296,887	)
RIVERBED TECHNOLOGY INC		17,278			607,667
ROBBINS + MYERS INC		13,500			483,030
ROCHE HOLDING AG GENUSSCHEIN		1,631			239,724
ROCHE HOLDING AG-GENUSSCHEIN COR CHF		5,698			836,057
ROCHE HOLDING AG-GENUSSCHEIN COR USD		2,003			293,896
ROCK TENN COMPANY CL A		13,200			712,140
ROCKWOOD HOLDINGS INC		40,835			1,597,465
ROGERS COMMUNICATIONS -CL B		(5,602	)		(194,647	)
ROGERS COMMUNICATIONS INC-B		(15,390	)		(533,561	)
ROGERS CORP		32,000			1,224,000
ROMARCO MINERALS INC		82,900			192,597
ROSETTA RESOURCES INC		50,800			1,912,112
ROYAL BAFOKENG PLATINUM LTD		15,200			153,361
ROYAL BANK OF CANADA		(35,264	)		(1,846,851	)
ROYAL BANK OF SCOTLAND GROUP		1,272,303			775,111
ROYAL DUTCH SHELL PLC B SHS		59,986			1,986,347
ROYAL DUTCH SHELL PLC-A SHS		4,637			153,352
RREEF CHINA COMMERCIAL TRUST		798,800			40,079
RWE AG		(370	)		(24,686	)
SABMILLER PLC		117,426			4,174,291
SAFRAN SA		19,113			677,335
SAIC INC		(3,139	)		(49,785	)
SAIPEM SPA		12,555			618,536
SALESFORCE.COM INC		15,576			2,056,032
SALIX PHARMACEUTICALS LTD		9,500			446,120


Identity of issue, borrower, lessor, or similar party including Maturity Date, Rate of	Shares/ Par
Interest, Collateral, Par, or Maturity Value	Value			Current Value
SAMSUNG ELECTRONICS CO LTD		8,454			7,089,242
SAMSUNG FIRE + MARINE INS		9,139			1,811,856
SANDISK CORP		21			1,047
SANDVIK AB		70,296			1,373,300
SANDY SPRING BANCORP INC		7,456			137,414
SANOFI AVENTIS		47,259			3,029,763
SAP AG-SPONSORED ADR		(2,888	)		(146,162	)
SAPIENT CORPORATION		128,078			1,549,744
SARA LEE CORP		154,868			2,711,739
SASOL LTD		69,000			3,611,581
SBERBANK OF RUSSIA		922,751			3,143,813
SCANIA AB-B SHS EUR COR		(14,819	)		(341,619	)
SCBT FINANCIAL CORP		10,400			340,600
SCHNEIDER ELECTRIC SA		7,834			1,177,087
SCHOLASTIC CORP		(5,830	)		(172,218	)
SEARS HOLDING CORP		(20,620	)		(1,520,725	)
SEATTLE GENETICS INC		81,100			1,212,445
SEKISUI HOUSE LTD		144,000			1,457,666
SELECT MEDICAL HOLDINGS CORP		89,900			657,169
SEMBCORP MARINE LTD		(15,000	)		(62,714	)
SEMEN GRESIK (PERSERO) PT		505,240			529,913
SEMGROUP CORP-CLASS A		82,603			2,244,324
SES		149,127			3,746,391
SEVERSTAL — GDR REG S		12,395			208,856
SHANGHAI INDUSTRIAL URBAN DEV GRP		46,000			17,280
SHANGRI-LA ASIA LTD		2,000			5,429
SHINHAN FINANCIAL GROUP LTD		50,035			2,332,233
SHORE BANCSHARES INC		8,100			85,374
SHRIRAM TRANSPORT FINANCE		92,480			1,623,545
SIEMENS AG REG		22,016			2,739,874
SIERRA BANCORP		5,801			62,245
SIGNATURE BANK		8,220			411,000
SIGNET JEWELERS LTD		13,603			590,370
SIGNET JEWELERS LTD-ADR		5,280			229,152
SIHUAN PHARMACEUTICAL HLDGS		187,000			136,647
SILGAN HOLDINGS INC		28,800			1,031,328
SILICON LABORATORIES INC		(1,870	)		(86,057	)
SILICONWARE PRECISION-SP ADR		32,349			192,477
SIMON PROPERTY GROUP INC		(2,407	)		(239,472	)
SINA CORP		(23,558	)		(1,621,262	)
SINGAPORE PRESS HOLDINGS LTD		(145,570	)		(451,433	)
SINOFERT HOLDINGS LTD		(178,900	)		(92,523	)
SIRIUS XM RADIO INC		924,800			1,516,672
SJM HOLDINGS LTD		1,162,000			1,844,575
SK TELECOM		30			4,627
SKANDINAVISKA ENSKILDA BAN-A		(31,112	)		(260,090	)
SKS MICROFINANCE LTD		13,631			195,785
SKYWORKS SOLUTIONS INC		35,802			1,025,011
SLM CORP		900,800			11,341,072
SMITH (A.O.) CORP		8,700			331,296
SMURFIT-STONE CONTAINER CORP		37,659			964,070
SOCIETE GENERALE		21,552			1,159,200
SOHU.COM INC ADS		(8,360	)		(530,776	)
SOLAR CAPITAL LTD		18,200			450,996
SOLARFUN POWER HOLD-SPON ADR		5,028			41,079
SOLARWINDS INC		46,766			900,246
SOLUTIA INC		60,539			1,397,240
SONGA OFFSHORE SE		19,922			107,413
SOTHEBYS		(3,560	)		(160,200	)
SOUFUN HLDINGS LTD — ADR		1,830			130,882
SOURCEFIRE INC		10,600			274,858
SOUTHERN CROSS MEDIA GROUP LTD		404,851			861,963
SPDR GOLD TRUST		30,840			4,278,125
SPDR S&P RETAIL ETF		(40,304	)		(1,949,101	)
ST JOE CO/THE		(8,371	)		(182,906	)
STALLION EQUITY		48,951			1,431,817
STANDARD BANK GROUP LTD		134,818			2,191,690
STANLEY BLACK & DECKER INC		24,314			1,625,877
STEC INC.		(41,982	)		(740,982	)
STEREOTAXIS INC		178,720			684,498
STERICYCLE INC		(10,938	)		(885,103	)
STERLING BANCSHARES INC/TX		32,800			230,256
STEWART INFORMATION SERVICES		64,400			742,532
STIFEL FINANCIAL CORP		16,800			1,042,272
STILLWATER MINING CO		14,960			319,396
STORA ENSO OYJ-R SHS		(79,981	)		(822,653	)
STRAITS ASIA RESOURCES LTD		526,000			1,022,396
STURM RUGER & CO INC		(8,440	)		(129,048	)
STX OSV HOLDINGS LTD		316,000			280,473
SUBSEA 7 INC		9,361			244,159
SUMITOMO MITSUI FINANCIAL GR		93,345			3,327,100


Identity of issue, borrower, lessor, or similar party including Maturity Date, Rate of	Shares/ Par
Interest, Collateral, Par, or Maturity Value	Value			Current Value
SUMITOMO TRUST & BANKING CO		55,000			346,798
SUN KING POWER ELECTRONICS		182,000			51,278
SUN PHARMACEUTICAL INDUS		236,450			2,554,601
SUNCOR ENERGY INC		48,000			1,849,182
SUNPOWER CORP-CLASS A		437			5,607
SUSQUEHANNA BANCSHARES INC		57,200			553,696
SUZUKI MOTOR CORP		88,000			2,169,219
SVB FINANCIAL GROUP		(1,212	)		(64,297	)
SVENSKA HANDELSBANKEN-A SHS		(5,499	)		(176,097	)
SWATCH GROUP AG-B		2,258			1,007,962
SWISSCOMM AG-REG		(202	)		(88,939	)
SYDBANK A/S		261			7,085
SYMANTEC CORP		14,278			239,014
SYNTHES INC.		(4,426	)		(597,737	)
SYSCO CORP		9,880			290,472
TAIWAN SEMICONDUCTOR MANUFAC		2,794,496			6,804,974
TAKEDA PHARMACEUTICAL CO LTD		(6,000	)		(295,197	)
TALBOTS INC		119,009			1,013,957
TALLINK GROUP LTD		476,270			504,763
TARGACEPT INC		1,700			45,050
TATA MOTORS LTD-SPON ADR		(22,105	)		(648,561	)
TDC A/S		229,964			1,998,987
TEAM HEALTH HOLDINGS INC		18,663			290,023
TECHNICOLOR		91,889			436,850
TECHNIP		(300	)		(27,722	)
TECHNIP SA		21,844			2,024,964
TECHNOLOGY SELECT SECT SPDR		(2,281	)		(57,458	)
TECNICAS REUNIDAS SA		10,129			644,970
TEJON RANCH CO		7,800			214,890
TELEDYNE TECHNOLOGIES INC		14,090			619,537
TELENET GROUP HOLDING NV		118,700			2,756,203
TELEVISION FRANCAISE (T.F.1)		(19,899	)		(346,227	)
TELIASONERA AB		(10,990	)		(87,289	)
TENCENT HOLDINGS LTD		25,300			549,738
TENET HEALTHCARE CORP		68,283			456,813
TERADATA CORP		1,046			43,053
TESCO PLC		97,045			2,860,013
TETHYS OIL AB		21,261			179,797
TEVA PHARMACEUTICAL SP ADR		175,511			4,762,967
TEXAS INSTRUMENTS INC		(3,140	)		(102,050	)
TEXAS ROADHOUSE INC		42,400			728,008
TEXTRON INC		(88,876	)		(2,101,029	)
TFS FINANCIAL CORP		11,510			103,820
THAI BEVERAGE PCL		4,190,809			932,345
THERMO FISHER SCIENTIFIC INC		8,670			479,971
THL CREDIT INC		5,600			72,856
THOMSON REUTERS CORP		(7,883	)		(294,801	)
THORATEC CORP		14,500			410,640
TIBCO SOFTWARE INC		30,370			598,593
TIME WARNER CABLE		55,790			3,683,814
TIME WARNER INC		71,232			2,291,533
TINGYI (CAYMAN ISLN) HLDG CO		(98,000	)		(250,894	)
TOMTOM		(89,085	)		(940,735	)
TORONTO-DOMINION BANK		(11,580	)		(861,818	)
TOTVS SA		9,012			917,487
TOWER BANCORP INC		3,340			73,614
TRACTEBEL ENERGIA SA		57,384			948,910
TRANSOCEAN LTD		42,500			2,954,175
TRAVELERS COS INC/THE		28,870			1,608,348
TRIUMPH GROUP INC		7,408			662,349
TRONOX BACKSTOP FEE EQUITY		2,215			189,347
TRX RIGHTS SUBSCRIPTION		263,975			263,975
TSINGTAO BREWERY CO LTD-H		(2,000	)		(10,472	)
TUI AG		(169,449	)		(2,379,344	)
TULLOW OIL PLC		135,446			2,674,091
TURKIYE GARANTI BANKASI		421,164			2,140,028
TYSON FOODS CL A		(57,106	)		(983,365	)
UMB FINANCIAL CORP		3,250			134,615
UMPQUA HOLDINGS CORP		28,300			344,694
UNION PACIFIC CORP		50,550			4,683,963
UNISOURCE ENERGY CORP CO		42,900			1,537,536
UNITED BANKSHARES INC		(5,337	)		(155,840	)
UNITED CONTINENTAL HOLDINGS		218,385			5,201,931
UNITED RENTALS INC		28,000			637,000
UNITED TECHNOLOGIES CORP		7,350			578,592
UNITEDHEALTH GROUP INC		84,552			3,053,173
UNIVERSAL HEALTH SERVICES-B		11,836			513,919
UNUM GROUP		(5,232	)		(126,719	)
UPM-KYMMENE OYJ		3,003			53,090
URBAN OUTFITTERS INC		49,560			1,774,744
US AIRWAYS GROUP INC		55,700			557,557


Identity of issue, borrower, lessor, or similar party including Maturity Date, Rate of	Shares/ Par
Interest, Collateral, Par, or Maturity Value	Value			Current Value
US BANCORP		148,303			3,999,732
USA TRUCK INC		14,600			193,158
VALE SA-SP PREF ADR		(12,120	)		(366,266	)
VALIDUS HOLDINGS LTD		44,347			1,357,462
VANCEINFO TECHNOLOGIES ADR		18,166			627,454
VANTAGE DRILLING CO		96,300			195,489
VARIAN MEDICAL SYSTEMS INC		(8,710	)		(603,429	)
VARIAN SEMICONDUCTOR EQUIP		1,300			48,061
VEECO INSTRUMENTS INC		(33,671	)		(1,446,506	)
VERIFONE SYSTEMS INC		2,093			80,706
VERIZON COMMUNICATIONS		(48,790	)		(1,745,706	)
VESTAS WIND SYSTEMS A/S		(18,340	)		(580,000	)
VIACOM INC-CLASS B		78,745			3,119,089
VIENNA INSURANCE GROUP AG		14,639			763,857
VIMPELCOM LTD-SPON ADR		8,434			126,847
VINCI SA		17,600			3,256,359
VITRAN CORP INC		51,252			672,426
VIVENDI		24,200			3,538,353
VMWARE INC — CLASS A		(7,586	)		(674,471	)
VODAFONE GROUP PLC		1,259,800			4,677,482
VODAFONE GROUP PLC-SP ADR		54,000			5,813,642
VOLCANO CORP		17,370			474,375
VOLVO AB-B SHS		155,512			2,746,088
VORNADO REALTY		619			51,581
VTB BANK OJSC-GDR-REG S/WI		(42,856	)		(282,421	)
VULCAN MATERIALS CO.		(3,400	)		(150,824	)
WABASH NATIONAL CORP		26,900			318,765
WADDELL + REED FINANCIAL A		10,900			384,661
WAL MART STORES INC		54,155			2,920,579
WALT DISNEY CO.		(6,278	)		(235,488	)
WANT WANT CHINA HOLDINGS LTD		747,455			658,277
WASTE MANAGEMENT INC		(23,196	)		(855,237	)
WATSCO INC		8,200			517,256
WATSON PHARMACEUTICALS INC		(11,806	)		(609,780	)
WATTS WATER TECHNOLOGIES A		14,300			523,237
WEBSTER FINANCIAL CORP		897			17,671
WELLCARE HEALTH PLANS INC		39,300			1,187,646
WELLPOINT INC		100,953			5,740,188
WELLS FARGO & CO		98,595			3,055,459
WELSPUN CORP LTD		68,317			259,579
WERNER ENTERPRISES INC.		(25,408	)		(574,221	)
WESCO INTERNATIONAL INC		8,200			432,960
WESTERN COAL CORP		52,609			649,820
WHITING PETROLEUM CORP		11,230			1,316,044
WILLIAMS COS INC		161,000			3,979,920
WILMAR INTERNATIONAL LTD		(51,700	)		(226,620	)
WINN-DIXIE STORES INC		(10,419	)		(74,808	)
WINNEBAGO INDUSTRIES		7,084			107,677
WINTRUST FINANCIAL CORP		5,383			177,800
WIPRO LTD-ADR		(58,317	)		(902,164	)
WORLD WIDE TOUCH TECHNOLOGY		1,072,000			131,018
WRIGHT EXPRESS CORP		19,949			917,654
WSFS FINANCIAL CORP		6,900			327,336
WUXI PHARMATECH INC ADR		60,900			982,926
WYNDHAM WORLDWIDE CORP		(114,805	)		(3,439,558	)
WYNN RESORTS LTD		14,710			1,527,486
X 5 RETAIL GROUP NV REGS GDR		38,715			1,790,569
XENOPORT INC		26,430			225,184
XL GROUP PLC		231,000			5,040,420
XSTRATA PLC		111,372			2,625,135
YAHOO! INC		122,700			2,040,501
YAPI VE KREDI BANKASI		203,042			641,185
YASKAWA ELECTRIC CORP		60,000			567,488
YELLOW MEDIA INC.		(90,130	)		(559,926	)
YUEXIU PROPERTY CO LTD		742,000			198,554
ZHUZHOU CSR TIMES ELECTRIC-H		(12,000	)		(47,163	)
ZIONS BANCORP		(15,649	)		(379,175	)
ZTE CORP-H		(228,285	)		(907,489	)
ZURICH FINANCIAL SERVICES AG		2,050			531,766


Total Common Stock		125,099,666.82			852,897,543.58


Cash and Short Term Investments
ARCELOR MITTAL 7.25% CB UNT		145,752			6,340,557
AUSTRALIAN DOLLAR		49,767			52,500
AUSTRALIAN ENERGY TRANS & DISTRIBUTION OPTION		2,188,425			0
BRAZILIAN REAL		210,904			127,050
CANADIAN DOLLAR		9,604			9,666
CAPS 2006-2A C FLT 09/20/2022		250,000			210,625
CAPS 2006-2A D FLT 09/20/2022		388,000			283,240
CHINA CNR CORP USD PNOTE CS		32,900			35,398


Identity of issue, borrower, lessor, or similar party including Maturity Date, Rate of	Shares/ Par
Interest, Collateral, Par, or Maturity Value	Value			Current Value
CHINA CONSTRUCTION BANK-A USD PNOTE CS		270,924			188,710
CREDIT SUISSE FIRST BOSTON		2,800,000			2,800,000
DANISH KRONE		42,972			7,736
DREYGUS GOVT CASH MGMT		6,922,107			6,922,107
EGYPTIAN POUND		346			60
EURO CURRENCY		75,204			100,890
EUROPEAN MONETARY UNIT		(57,956	)		(77,569	)
GREENWHICH FUTURES CASH		34,000			34,000
HONG KONG DOLLAR 102		(1,622,996	)		(208,797	)
HUNGARIAN FORINT		1			(0	)
INDIAN RUPEE		1,562,401			34,941
INDONESIAN RUPIAH		51,766,198			5,746
JAPANESE YEN		278,614			2,387
MEXICAN PESO (NEW)		25,722			2,085
MORGAN STANLEYPRIME INSTITUTIONAL CLASS		12,272,217			12,272,217
NEW TAIWAN DOLLAR		262,681			9,009
NORWEGIAN KRONE		(613,441	)		(105,538	)
NWSTR 2006-1A A1 FLT 03/30/2022		1,128,277			1,005,577
NWSTR 2006-1A C FLT 03/30/2022 144A		342,000			228,285
NWSTR 2007-1A B FLT 09/30/2022		194,000			144,530
NWSTR 2007-1A C FLT 09/30/2022		372,000			251,100
NWSTR 2007-1A D FLT 09/30/2022		194,000			116,400
PING AN INSURANCE GROUP CO-A USD PNOTE CS		48,500			413,336
POUND STERLING		159			9,710
ROCKW 2006-1A A1LA FLT 08/01/2021 144A		1,079,376			812,230
ROCKW 2007-1A A1LA FLT 08/01/2024 144A		453,823			376,673
SAPPHIRE INDUSTRIALS C-UNITS ESCROW		43,813			0
SEM GROUP CASH HOLD		23,488			23,488
SINGAPORE DOLLAR		—			0
SOUTH AFRICAN RAND		111			17
SOUTH INDIAN BANK P-NOTE CITI		72,800			39,327
SOUTH KOREAN WON		22,389			20
SWAP BANK OF AMERICA COC		60,000			60,000
SWEDISH KRONA		1,742,486			259,631
SWISS FRANC		—			(0	)
TRIAN ACQUISITION I — UNITS ESCROW		70,967			0
TRIAN ACQUISITION I — UNITS ESCROW		70,967			0
TUI AG 5.5% 17NOV2014		18,848			2,851,364
US DOLLAR		29,571,682			29,571,682
VALEO 2.375% 01/2011		15,536			986,874


Total Cash and Short Term Investments		112,819,568			66,197,267


Fixed Income Securities

AAI 5.25 11/01/2016		206,000			293,293
ABBOT GROUP LTD TL 2 USD		5,508			4,792
ABBOT GROUP LTD TL B 2 USD		11,015			9,583
ABBOT GROUP LTD TL C 3 USD		5,508			4,792
ABN AMRO BANK NV		700,000			961,548
ADECCO INVESTMENT BERMUD 6.5 11/26/2012		7,250,000			9,143,060
ADELPH COM 10.25 11/1/06 NA ESC		23,947			359
ADELPHIA COMM 7.5% 01/04 NA ESCROW		8,100			122
ADLAC 3.25 05/01/21 NA ESCROW		2,031,000			—
AERO INVENTORY RCF USD		2,296,809			367,489
AFRISAM INVESTMENT FLT 02/04/2012		478,000			479,422
AGN 1.5 04/01/2026		(1,165,000	)		(1,316,971	)
AHM 2007-1 GIOP FLT 05/25/2047		24,687,386			1,671,336
ALAMEDA CNTY CALIF JT PWRS		300,000			296,769
ALCOA INC 5.25 03/15/2014		451,000			1,123,629
ALERIS INTERNATIONAL INC 10 12/15/2016 (DEFAULTED)		90,000			9
ALGOSAIBI TL SYNDICATE		25,100			6,150
ALLIANCE MEDICAL TL B1 EUR		36,687			28,946
ALLIANCE MEDICAL TL C1 EUR		36,687			28,946
ALTAS ENERGY 12 1/8% 8/1/17		768,000			96,928
AMD 5.75 08/15/2012		500,000			514,375
AMER INTL GRP		500,000			669,604
AMERICAN HOME MTG ASSET		278,158			151,850
AMERICAN MUN PWR OHIO INC		300,000			319,393
AMO ESCROW CORP 11.5 12/15/2017 144A		610,000			649,650
AMSI 2004-R3 M1 FLT 05/25/2034		64,204			48,474
ANGLO AMERICAN PLC 4 05/07/2014		6,500,000			12,631,125
ANGLO IRISH BANK CORP FLT 01/25/2012		413,000			382,931
ANGLO IRISH BANK CORP FLT 04/26/2012		10,000,000			80,973
ANGLO IRISH BANK CORP FLT 06/28/2012		268,000			286,256
ANGLO IRISH BANK CORP FLT 11/02/2011		419,000			293,300
ARM 4.625% 3/1/26		1,221,000			1,563,993
ARRMF 2010 1A A1B		400,000			536,161
ARSI 2004-W5 AV3B FLT 04/25/2034		24,932			20,426
ARTEMI 4.25% 01/01/2015		(7,030	)		(544,331	)


Identity of issue, borrower, lessor, or similar party including Maturity Date, Rate of	Shares/ Par
Interest, Collateral, Par, or Maturity Value	Value			Current Value
ATLAS PIPELINE 8.75 06/15/18 144A		2,514,000			102,588
ATP OIL & GAS 11 7/8% 5/1/2015		561,000			268,640
AVIATION CAPITAL GROUP		400,000			409,457
AVIS BUDGET GROUP INC 3.5 10/01/2014		2,201,000			2,645,890
BA COVERED BD		200,000			274,463
BAA FUNDING LIMITED		400,000			544,874
BAFC 2005-E 8A1 FLT 06/20/2035		45,538			24,461
BAFC 2007-A 2A1 FLT 02/20/2047		72,280			51,916
BAFC 2007-E 8A5 0.5 09/20/2047		2,290,401			14,143
BAFC 2007-E 9A1 FLT 09/20/2037		943,489			572,698
BAFC 2010-R10 1A1 0.5 10/26/2045		3,112,728			44,512
BALL 2009-UB2 A4B8 FLT 07/24/2044		100,000			93,840
BALL 2010-HLTN HLTN FLT 11/15/2015 144A		3,242,545			2,898,025
BALTA 2004-10 1A3 FLT 09/25/2034		252,105			194,222
BANC AMER MTG SECS INC		400,000			321,340
BANC OF AMERICA		85,072			78,024
BANCO POPOLARE SC 4.75 03/24/2014		544,112			801,351
BANK AMER CORP		180,000			187,313
BANK OF AMERICA CORP		600,000			698,468
BCAP LLC TR		290,683			165,379
BEAR STEARNS ALT A TR 2006 6		523,651			324,944
BEAR STEARNS ARM TR		984,111			948,892
BEAR STEARNS STRUCT PRODS INC		166,912			108,927
BEST BUY 2.25 01/15/2022		(760,000	)		(811,259	)
BL SUPERSTORE FINANCE FLT 10/04/2015		33,322			48,581
BNCMT 2007-2 M2 FLT 05/25/2037		77,402			929
BNP PARIBAS		300,000			428,875
BNP PARIBAS HOME LOAN		300,000			411,602
BNP PARIBAS HOME LOAN COVERED		300,000			411,387
BOAMS 2007-1 2A12 6% 01/25/2037		51,008			18,904
BOND STREET HOLDINGS LLC-A		60,000			1,206,000
BOND STREET HOLDINGS LLC-B		40,000			800,000
BP CAPITAL PLC		300,000			402,520
BRAR STEARNS ADJUSTABLE RATE M		107,133			94,091
BRITISH AIRWAYS 5.8 08/13/2014		2,100,000			5,161,478
BSABS 2006-AC2 22A4 FLT 03/25/2036		160,678			23,057
BSABS 2007-HE6 1A1 FLT 08/25/2037		459,365			308,923
BSARM 2005 2 A2		149,004			142,136
BSMF 2007-AR5 2A1 FLT 06/25/2037		560,941			368,594
BUNDESREP DEUTSCHLAND ANL		700,000			1,005,526
BUNDESREPUBLIK DEUTSCHLAND		700,000			1,007,278
BUNDESSCHATZANWEISUNGEN		200,000			268,764
BURLINGTON NORTHN SANTA FE		254,000			286,193
BWA 3.5 04/15/2012		1,451,000			3,243,103
CALLAHAN NRH WESTF 14.125 07/15/11 (NON-ACC) ESC		9,000			—
CAMBR 7A B FLT 06/12/2042 144A		96,752			—
CAMERON INTL CORP 2.5 06/15/2026		500,000			728,285
CANADIAN IMPERIAL BK TORONTO		900,000			916,090
CAPITALAND LTD 2.875 09/03/2016		1,500,000			1,195,597
CAPMARK REVOLVER CAD		278,313			112,369
CAPMRK TL 1L USD L+92.5		7,898,661			3,258,198
CCU 10.75 08/01/2016		500,000			445,000
CEMEX SAB DE CV 4.875 03/15/2015		669,000			733,491
CENTP 2007-1 A1 FLT 10/10/2018		334,000			498,672
CENTP 2007-1 C FLT 10/10/2018		18,000			24,208
CENTP 2007-1 D FLT 10/10/2018		9,000			11,543
CEPH 2% 06/01/15		1,000,000			1,408,866
CEVA GROUP PLC 8.375 12/01/2017 144A		200,000			202,500
CFLX 2007-2 A1 FLT 05/25/2037		146,476			101,370
CFLX 2007-M1 2F4 6.35 08/25/2037		894,000			610,416
CFS RETAIL PROPERTY TRUST 5.075% 21AUG14 CVB		600,000			596,503
CHINA HIGH SPEED TRANSMI 0% CVB 05/14/2011		300,000			49,168
CHINA MEDICAL TECH INC 4 08/15/2013		1,128,000			956,920
CHIQUITA BRANDS INTL 8.875 12/01/2015		(185,000	)		(189,686	)
CHK 2.5 05/15/2037		302,000			269,774
CIE FIN FONCIE CFF		1,000,000			1,353,460
CIE FINANCEMENT FONCIER		500,000			504,255
CIENA CORP 4 03/15/2015 144A		670,000			841,684
CITIGROUP INC		1,496,000			1,855,879
CLEVELAND ELEC ILLUM CO		363,000			388,414
CMLTI 2006-NC2 A2B FLT 09/25/2036		106,743			50,881
CMS 2.875% 12/1/2024		863,000			1,251,251
CMSI 2004-5 B2 08/25/2034		34,068			22,485
CMSI 2006-5 1A11 FLT 10/25/2036		125,940			99,814
COLT DEFENSE/FINANCE 8.75 11/15/2017 144A		248,000			183,520
COM HEM 2 LN SEK-D RECAP		875,257			117,384
COMDISCO 6.125% 01/15/03		117,000			0
COMDISCO 6.13% 8/01/01		56,000			0
COMDISCO 7.25% 9/01/02		98,000			0
COMDISCO 9.5% 08/15/03		65,000			0
COMMONWEALTH BANK AUST		1,400,000			1,406,182


Identity of issue, borrower, lessor, or similar party including Maturity Date, Rate of	Shares/ Par
Interest, Collateral, Par, or Maturity Value	Value			Current Value
CON WAY INC		1,500,000			1,618,328
CQB 4.25 08/15/2016		875,000			848,282
CRNMZ 2006-2A A2B FLT 02/13/2047 144A		258,006			—
CSFB 2005-7 2A3 FLT 08/25/2035		69,619			11,200
CSMC 2007-3 AX 6 04/25/2037		212,407			36,799
CSMC 2007-TFLA A1 FLT 02/15/2022		220,297			210,384
CWALT 2005-14 3A1 FLT 05/25/2035		814,132			404,339
CWALT 2005-36 2A1A FLT 08/25/2035		126,415			65,433
CWALT 2005-62 2X1 12/25/2035		352,375			13,902
CWALT 2006-29T1 2A13 FLT 10/25/2036		382,354			206,070
CWALT 2006-36T2 2A4 6.25 12/25/2036		244,000			162,724
CWALT 2006-39CB 1A2 FLT 01/25/2037		34,827			19,329
CWALT 2006-J5 1A1 6.5 09/25/2036		220,526			142,085
CWALT 2006-OA16 M1 FLT 10/25/2046		144,483			14
CWALT 2007-OA3 1A1 FLT 04/25/2047		1,033,904			619,981
CWALT 2007-OH1 A1D FLT 04/25/2047		201,716			102,421
CWALT ALTERNATIVE LN TR		321,492			167,424
CWHL 2005-7 3X 0 03/25/2035		1,910,297			49,620
CWHL 2006-TM1 A1 FLT 03/25/2046		3,491,219			1,721,171
CWHL 2007-HY7 2AX 0.60338 12/25/2037		3,294,378			24,873
CWHL 2007-HY7 3AX FLT 11/25/2037		886,716			10,383
CWL 2005-8 M2 FLT 12/25/2035		139,000			78,375
CWL 2005-AB1 M2 FLT 9 08/25/2035		154,804			21,564
CWL 2006-S9 A5 FLT 08/25/2036		45,006			20,986
CWL 2007-1 M2 FLT 07/25/2037		154,804			3,542
CWL 2007-8 2A2 FLT 11/25/2037		441,000			337,365
CWL 2007-S1 A5 FLT 11/25/2036		97,638			45,787
CWMBS INC		169,603			132,579
DAEWOO INTL 3.25% 06JUL14 CVB REGS		300,000			402,000
DBALT 2007-OA3 A1 FLT 07/25/2047		267,732			173,314
DBSD DIP FKA ICO		58,300			58,300
DEVELOPERS DIVERSIFIED REALTY 1.75 11/15/2040		403,000			426,763
DEXIA CREDIT LOCAL		1,000,000			999,807
DEXIA MUNICIPALE AGENCY		100,000			136,073
DNB NOR BOLIGKRED		100,000			140,172
DOLLAR GENERAL 10.625 7/15/15		980,000			530,145
DONBASS — ISD TL		25,411			13,468
DONBASS LNDMNT TL		79,409			42,087
DONNELLEY R R + SONS		500,000			625,756
DRYDEN CLO SUB 9/20/2019 2005-9X DFN		1,440,000			191,817
DUBAI HOLDING COMM OP 4.75 01/30/2014		779,458			844,319
DUBAI HOLDING COMM OP 5.25 07/14/2011		548,000			554,632
DUBAI HOLDING COMM OP 6 02/01/2017		350,000			406,587
DUBAI HOLDING COMM OP FLT 02/01/2012		100,000			88,500
EASTMAN KODAK 9.75% 3/01/2018 (144)		821,000			665,250
EMFNL 2008-1X A2 FLT 10/17/2041		124,000			144,268
EMLT 2004-2 M2 FLT 10/25/2034		23,303			16,166
ENERGY XXI GULF 10% 6/15/2013		1,143,000			798,340
EPICP BROD A FLT 01/22/2016		92,508			112,577
EPRE 1-X A FLT 04/27/2014		489,474			682,409
ESAIL 2006-1X B1A FLT 06/10/2044		100,000			93,611
ESAIL 2006-2X B1A FLT 12/15/2044		100,000			92,942
ESAIL 2007-3A A2B FLT 06/13/2045 144A		85,506			67,977
ESAIL 2007-3X A2A FLT 06/13/2045		266,968			283,828
ESAIL 2007-3X A2C FLT 06/13/2045		198,563			246,148
ESAIL 2007-4X A2A FLT 06/13/2045		1,639,000			1,517,846
ESAIL 2007-5X A1A FLT 09/13/2045		1,049,525			849,135
ESAIL 2007-5X A1A FLT 09/13/2045 EUR COR		135,040			109,257
ESAIL 2007-6NCX A1A FLT 12/13/2029		185,835			231,121
ESAIL 2007-6NCX A2A FLT 09/13/2045		558,000			529,812
ESAIL 2007-PR1X A FLT 09/13/2045		476,784			401,690
ESAIL 2007-PR1X A FLT 09/13/2045 GBP COR		954,441			804,116
ESCROW COMDISCO MTN 0.00 I		44,000			—
ESCROW COMDISCO MTN 0.00 II		29,000			—
ETRADE 12.5% 11/30/17		2,716,502			837,420
ETRADE 7.375% 9/15/13		2,836,000			975,360
EUMF 2008-1X A2 FLT 03/13/2046		599,584			738,119
EUMF 2008-1X A3 FLT 03/13/2046		295,000			205,576
EUMF 2008-1X A3 FLT 03/13/2046 GBP COR		2,437,000			1,698,265
EURAZEO DANONCE CB 6.25% 10JUN2014		(10,490	)		(831,175	)
EUROPEAN INVESTMENT BANK		800,000			1,095,934
EUROPEAN MEDIA 10% 2015		335,417			234,792
EVRAZ GROUP SA 7.25 07/13/2014		2,000,000			3,795,834
EVRAZ GROUP SA 8.25 11/10/2015		(575,000	)		(613,094	)
EXP IMP BANK KOREA		145,000			207,076
FAIRPOINT COMMUNICATIONS TLB USD		22,020			14,864
FALCON MEZZ 1		50,101			66,665
FALCON MEZZ 2		55,563			73,933
FALCON MEZZ 3		33,278			44,280
FEDERAL NATL MTG ASSN MTN		363,000			397,885
FHAMS 2006-FA8 1A7 6 02/25/2037		93,691			72,142


Identity of issue, borrower, lessor, or similar party including Maturity Date, Rate of	Shares/ Par
Interest, Collateral, Par, or Maturity Value	Value			Current Value
FHR 3138 SK FLT 02/15/2036		330,112			46,731
FHR 3415 SD FLT 11/15/2036		359,531			37,645
FHS 246 S29 FLT 05/15/2037		186,648			25,656
FISHER SCIENTIFIC INTL 3.25 03/01/2024		(363,000	)		(505,681	)
FMC 2005-1A A1 FLT 07/27/2045 144A		20,744			18,255
FNMA TBA SINGLE FAMILY MORTGAG		8,000,000			7,957,504
FNR 2004-17 ST FLT 04/25/2034		66,807			13,278
FNR 2004-24 CS FLT 01/25/2034		104,396			18,328
FNR 2004-60 SW FLT 04/25/2034		99,049			16,692
FNR 2004-92 S FLT 08/25/2034		177,815			25,673
FNR 2005-29 SY FLT 04/25/2035		95,023			15,560
FNR 2005-57 CI FLT 04/25/2035		190,223			29,841
FNR 2005-57 DI FLT 5 03/25/2035		136,586			17,501
FNR 2005-85 SC FLT 10/25/2035		189,000			26,418
FNR 2006-43 SJ FLT 06/25/2036		199,041			27,772
FNR 2006-45 XS FLT 06/25/2036		532,134			77,159
FNR 2006-62 SB FLT 04/25/2036		196,850			30,266
FNR 2009-101 NS FLT 12/25/2039		1,248,726			137,747
FNR 2009-90 QI 6.34375 08/25/2036		1,595,522			217,280
FNR 2010-56 AS FLT 06/25/2040		885,332			115,978
FNR 2010-67 SD FLT 06/25/2040		395,836			45,336
FORMULA 1 RCF (ALPHA TOPCO)		4,393			(143	)
FRANCE (GOVT)		1,900,000			2,680,477
FRANKLIN SERIES 5A CLASS B 6/15/2018		1,260,000			282,465
FRANKLIN SERIES 5A CLASS C 6/15/2018		760,000			592,066
FRANKLIN SERIES 5A CLASS D 6/15/2018		370,000			675,650
FRANKLIN SERIES 5A CLASS E 6/15/2018		270,000			964,800
FRANKLIN SERIES 5A SUB 6/15/2018		1,070,000			1,070,168
FREMF K-007I C 0 05/25/2020		996,000			217,136
FRESENIUS FINANCE LTD 5.625 08/14/2011		1,300,000			2,131,823
FSTAR 2007-1A AF4 FLT 01/25/2035 144A		258,006			104,518
GAMBRO A3 SEK		173,381			23,770
GAMBRO MEZZANINE L+425		114,555			108,920
GAMBRO PIK A EUR		150,676			171,275
GAMBRO PIK C EUR		191,353			217,512
GATEHOUSE DD TL 08/28/2014		268,048			104,405
GATEHOUSE INCREMENTAL TL		1,136,429			442,639
GATEHOUSE TL L+200 08/28/2014		595,454			231,930
GATX FINL CORP		363,000			375,915
GAZ CAPITAL SA		200,000			225,400
GEBL 2006-2A A FLT 11/15/2034 144A		440,378			335,238
GENERAL MOTORS 7.2% 1/15/2011		283,000			1,074,325
GENERAL MOTORS 8.375% 7/15/2033		283,000			1,104,776
GERMAN POSTAL PENS		1,600,000			2,147,039
GERMANY (FED REP OF)		4,500,000			6,893,435
GM 6.75 05/01/2028 NA		432,000			146,880
GM 7.375 05/23/2048 NA		161,000			54,740
GM 7.4 09/01/2025 (NON-ACC)		164,000			54,940
GM 8.1 06/15/2024 NA		376,000			128,780
GM 8.8 03/01/2021		23,000			7,878
GM 9.4 07/15/2021 (NON-ACC)		139,000			45,175
GMAC INC		1,100,000			1,143,000
GMAC INTERNATIONAL FINANCE BV		200,000			268,310
GMAC LLC		200,000			206,173
GMACM MTG LN TR		76,449			66,398
GNR 2007-26 SG FLT 04/20/2037		292,359			36,364
GNR 2008-36 SA FLT 04/20/2038		198,963			27,047
GNR 2008-36 SB FLT 04/20/2038		175,041			18,106
GNR 2008-94 SF FLT 12/20/2038		178,251			17,880
GNR 2009-100 SB FLT 05/16/2039		225,658			24,258
GNR 2009-65 LS FLT 07/16/2039		569,798			59,493
GOME ELECTRICAL APPL 3% 25SEP14		4,600,000			849,887
GPMF 2006-AR2 4X 1 03/25/2036		585,672			8,602
GPMF 2006-AR3 3A1 FLT 04/25/2036		222,813			92,980
GRANITE MASTER ISSUER PLC		371,867			346,042
GREYL 2006-6A A1AL FLT 03/20/2014 144A		1,316,000			1,159,791
GSAA 2007-1 M1 FLT 02/25/2037		18,029			4
GSAMP 2007-NC1 M2 FLT 12/25/2046		13,949			36
GSCSF 2006-4A A1 FLT 11/06/2046 144A		258,006			—
GSR 2004-15F 2A3 6 12/25/2034		72,396			12,870
GSR 2005-HEL1 A1 FLT 11/25/2030		38,392			14,013
HASC 2005-I1 2A3 FLT 11/25/2035		591,248			427,916
HBOS CAPITAL FDG		109,000			131,405
HBOS PLC		254,000			237,831
HCA INC		200,000			214,000
HEAT 2006-6 M1 FLT 9 11/25/2036		75,616			756
HEMT 2006-4 A1 5.6713 11/25/2036		125,482			27,136
HERTZ GLOBAL HOLDINGS IN 5.25 06/01/2014		174,000			331,826
HILTON MEZZANINE C 1M LIBOR +275 BPS 11/12/2015		991,346			852,558
HILTON MEZZANINE D 1M LIBOR + 300BPS 11/12/2015		715,972			608,576
HILTON MEZZANINE E 1M LIBOR + 325BPS 11/12/2015		936,270			786,467


Identity of issue, borrower, lessor, or similar party including Maturity Date, Rate of	Shares/ Par
Interest, Collateral, Par, or Maturity Value	Value			Current Value
HILTON MEZZANINE F 1M LIBOR + 350BPS 11/12/2015		3,101,494			2,543,225
HMI 2010 1A A3		400,000			535,925
HOST HOTELS & RESORTS LP 2.5 10/15/2029		1,000,000			1,410,994
HVMLT 2004-8 2A4A FLT 11/19/2034		54,909			38,574
HVMLT 2004-9 3A FLT 12/19/2034		77,020			44,672
HVMLT 2005-12 2A11 FLT 10/19/2035		413,883			256,607
HVMLT 2005-9 2A1C FLT 06/20/2035		132,720			86,268
HVMLT 2006-12 B2 FLT 01/19/2038		258,006			403
HVMLT 2006-7 2A1A FLT 09/19/2046		244,152			145,270
HVMLT 2006-8 2A1A FLT 07/21/2036		90,058			53,584
HVMLT 2007-3 2A1A FLT 05/19/2047		1,106,469			658,349
HVMLT 2007-4 2A1 FLT 07/19/2047		314,032			191,167
HVMLT 2007-7 2A1A FLT 11/25/2047		684,997			445,462
HYNIX SEMICONDUCTOR INC 2.65 05/14/2015		1,500,000			1,490,625
ICM 2006-S2A A1LB FLT 10/12/2045 144A		258,006			3,870
ICO NORTH AMERICA 7.5 08/18/09 PIK EXP NA		19,714			—
ICO NORTH AMERICA INC 7.5 8/15/09 NA		927,700			946,254
IGT 3.25 05/01/2014 144A		942,000			1,095,295
IMM 2005-6 2M2 FLT 10/25/2035		91,365			61,557
IMMEO RES FIN		106,893			129,667
INABS 2007-B M2 FLT 07/25/2037		126,373			600
INCAPS FUNDING I LTD/CRP FLT 06/01/2033 144A		227,414			170,560
INDX 2006-AR3 3X FLT 04/25/2036		735,648			2,549
INDX 2006-FLX1 A1 FLT 11/25/2036		96,483			63,457
INDX 2007-FLX3 A1 FLT 06/25/2037		532,690			324,941
INDYMAC MBS INC		318,201			264,588
ING BANK (AUSTRALIA) LTD		1,000,000			1,030,636
ING BANK NV		1,100,000			1,140,481
ING CAP FNDG VAR 12/49-PREF (8.439%)		292,000			1,158,470
INGERSOLL-RAND CO LTD 4.5 04/15/2012		1,386,000			3,678,654
INTERPUBLIC GROUP COS 4.25 03/15/2023		212,000			236,038
INTL LEASE FIN CORP MTN		800,000			820,000
INVESTEC BK AUSTRA		600,000			599,037
IPG 4.75 03/15/2023		1,184,000			1,385,543
J P MORGAN MTG TR		245,267			215,752
JAPAN TREASURY DISC BILL		180,000,000			2,218,604
JPALT 2005-S1 1A8 FLT 12/25/2035		280,139			40,552
JPMCC 2006-FL1A F FLT 02/15/2020 144A		95,227			71,420
JPMCC 2006-FL1A G FLT 02/15/2020 144A		112,541			78,779
JPMCC 2010 C2 A1		495,512			489,883
JPMMT 2004-S2 4A2 FLT 11/25/2034		128,389			22,571
JPMORGAN CHASE + CO		300,000			330,308
KABEL DEUTSCHLAND REVOLVER		21,805			20,076
KAUFMAN & BROAD S.A. HOLD TL		306,276			245,749
KAUPTHING BOND TRADE CLAIMS 4 — USD		181,373			48,064
KAUPTHING LOAN TRADE CLAIMS 1 — EUR		269,547			94,622
KAUPTHING LOAN TRADE CLAIMS 2 — EUR		269,547			94,622
KAUPTHING LOAN TRADE CLAIMS 3 — EUR 2		269,547			94,622
KAUPTHING LOAN TRADE CLAIMS 5 — EUR		630,000			221,156
KCC CORP 3.5% 06MAY14		100,000			218,250
KFW 1.5 07/30/2014		(200,000	)		(306,242	)
KHAZANAH / PARKSON 0% CVB 12MAR13		1,400,000			1,435,000
KION 2ND LIEN EUR		71,809			65,109
KOMMUNALBANKEN AS		400,000			409,350
L 3.75% 02/15/30		1,239,000			681,450
L 8.5% 07/15/29		(95,000	)		(93,143	)
LBG CAPITAL NO 1 PLC		300,000			273,000
LBG CAPITAL NO.1 PLC 7.5884 05/12/2020		1,058,000			1,418,776
LBG CAPITAL NO.1 PLC 7.8673 12/17/2019		103,000			139,729
LBG CAPITAL NO.1 PLC 7.869 08/25/2020		271,000			367,636
LBG CAPITAL NO.2 PLC 15 12/21/2019		300,000			591,754
LBG CAPITAL NO.2 PLC 6.385 05/12/2020		39,000			42,202
LBMLT 2003-2 M1 FLT 06/25/2033		388,627			303,129
LBMLT 2006-5 M1 FLT 06/25/2036		169,899			858
LCERT 2006-1A A1 FLT 02/15/2046 144A		77,402			8
LEASEPLAN CORPORATION NV		300,000			380,258
LEH 0 01/12/2012 (NON-ACC)		363,000			84,851
LEH 0 12/23/2010 (NON-ACC)		441,000			103,084
LEH 4.8 03/13/2014 (NON-ACC)		224,000			53,200
LEH 5.25 02/06/2012 (NON-ACC)		147,000			34,913
LEH 5.5 04/04/2016 (NON-ACCRUAL)		464,000			110,200
LEH 6 07/19/2012 (NON-ACC)		706,000			167,675
LEH 6.2 09/26/2014 NA		2,009,000			477,138
LEH 6.625 01/18/2012 NON ACCRUAL		3,402,000			807,975
LEHMAN BROS HLDGS 5.625 01/24/2013 (NON-ACC)		5,643,000			1,368,428
LEHMAN BROS HLDGS 6.875 05/02/2018 (NON-ACC)		1,879,000			460,355
LEHMAN BROTHERS HOLDINGS 0 05/25/2010 (NON ACC)		645,000			150,769
LEHMAN BROTHERS HOLDINGS 0% 12/23/08 (NON-ACC)		200,000			46,750
LEHMAN BROTHERS HOLDINGS 7.875 08/15/2010 (NA)		220,000			52,250
LENNAR CORP 2 12/01/2020 144A		750,000			743,703
LENNAR CORP 2.75 12/15/2020 144A		211,000			230,857


Identity of issue, borrower, lessor, or similar party including Maturity Date, Rate of	Shares/ Par
Interest, Collateral, Par, or Maturity Value	Value			Current Value
LGATE 2006-1X A2A FLT 12/01/2060		262,414			341,668
LIBERTY GLOBAL INC 4.5 11/15/2016		848,000			1,265,978
LIBERTY MEDIA LLC 3.125 03/30/2023		508,000			575,531
LIFE TECHNOLOGIES CORP 3.25 06/15/2025		(56,000	)		(66,887	)
LINCARE HOLDINGS INC 2.75 11/01/2037 B ROR		264,000			289,003
LLOYDS TSB BANK PLC		500,000			541,393
LNCR 2.75 11/01/2037		468,000			512,324
LNR 2006-1A A FLT 05/28/2043 144A		750,000			63,188
LOCAL INSIGHT TL		62,889			22,326
LOS ANGELES CALIF CMNTY COLLEG		200,000			207,142
LOS ANGELES CNTY CALIF PUB WKS		300,000			296,772
LUM 2006-6 A1 FLT 10/25/2046		208,572			118,006
LXS 2005-5N 1A1 FLT 11/25/2035		66,443			47,008
LXS 2005-7N 1A1B FLT 12/25/2035		30,707			10,748
LXS 2006-14N 1A1B FLT 09/25/2046		442,661			217,110
LXS 2007-16N 2A2 FLT 09/25/2047		1,270,929			764,345
LXS 2007-7N 1A1A FLT 06/25/2047		375,358			236,739
LXS 2007-7N 1A2 FLT 06/25/2047		338,451			154,260
MACES 2006-2A 3 4.7 03/20/2013 144A		241,000			289,094
MACH 2005-CDN1 A FLT 07/21/2037		561,852			273,903
MACH 2ND LIEN DBT WP ROAMING		206,987			221,443
MACQUARIE BANK LTD		100,000			105,658
MACQUARIE BK LTD SR		1,000,000			1,019,116
MALLF 1 A FLT 04/22/2014		403,775			530,411
MANA 2007-F1 IO2 6.25 03/25/2037		185,762			30,169
MANA 2007-OAR1 A1 FLT 02/25/2037		89,664			58,694
MANA 2007-OAR2 A1 FLT 04/25/2037		349,306			193,865
MANA 2007-OAR3 A3 FLT 07/25/2047		193,265			6,944
MANSD 2006-1X M1 FLT 10/15/2048		250,000			278,725
MARM 2007-1 IX3 0.5 01/25/2047		4,385,118			62,576
MARSH + MCLENNAN COS INC		362,000			389,634
MATALAN FINANCE LTD 9.625 03/31/2017 REGS		(84,000	)		(139,495	)
MAXIS 2009 1 A1		309,819			320,627
MERRILL LYNCH + CO		600,000			819,018
MERRILL LYNCH MTG INVS INC		217,190			194,199
MESDG 1 F FLT 07/25/2016		90,314			51,632
MFD 2008-1 A 1.75 03/13/2046 GBP COR		7,003,657			5,564,960
MFD 2008-1 A FLT 03/13/2046		5,012,835			3,983,094
MICROSOFT CORP 0 06/15/2013 144A		(134,000	)		(143,979	)
MKP 6A A2 FLT 06/15/2051 144A		232,205			2
ML CFC COML MGT		399,000			412,980
MLFT 2006-1 J FLT 06/15/2022 144A		356,000			263,440
MLST IV-A A1A FLT 08/04/2047 (NON-ACC)		6,663,564			0
MLST IV-A A1B FLT 08/04/2047 (NON-ACC)		6,663,564			0
MLST IV-A A1C FLT 08/04/2047 (NON-ACC)		6,663,564			0
MMR 4% CONVERTIBLE SENIOR NOTE		2,500,000			196,945
MORGAN STANLEY		800,000			999,887
MORGAN STANLEY CAPITAL I INC		160,272			152,208
MORGAN STANLEY MTG LN 2007 6XS		280,433			171,852
MORNINGSIDE PARK CLO 1A SUB 10/14/20		2,180,000			2,054,650
MSAC 2006-HE6 M2 FLT 09/25/2036		38,701			581
MSAC 2007-HE1 M1 FLT 11/25/2036		154,804			2,833
MSAC 2007-NC1 M1 FLT 11/25/2036		64,501			1,513
MUZ2 1A B1 FLT 03/15/2011 144A		881,052			594,710
MUZ2 1A B2 9 03/15/2011 144A		231,797			193,551
MUZC 1 B 9.51 05/08/2012		1,316,870			734,155
NATIONWIDE BUILDING SOCIETY		100,000			139,123
NATL ENERGY 10.375% UNIT FROM REORG		3,671,034			6
NDS TL M1 MEZZ USD		715,581			712,003
NETHERLANDS (GOVT OF)		2,500,000			3,449,226
NEW JERSEY ST TPK AUTH TPK REV		200,000			220,636
NEWPORT TV/NTV FINANCE C 13 03/15/2017 (TGL)		383,858			360,827
NGATE 2007 3X A3		300,000			339,587
NIBC BANK NV		800,000			824,599
NIPPON YUSEN KABU 0% 24SEP26 CVB		15,000,000			184,267
NOBLE GROUP LTD 0 06/13/2014		1,649,000			2,920,791
NORTHSIDE TEX INDPT SCH DIST		300,000			288,416
NSTAR 1A B2 FLT 08/28/2038		27,000			20,250
NUMERICABLE TLC EUR		75,300			79,160
OCR 3.25% 12/15/35		795,000			734,381
OCWEN FINANCIAL TERM LIBOR+7%		1,096,071			1,096,071
OFFICE DEPOT INC		400,000			400,000
OMNICARE INC 6.875 12/15/2015		197,000			201,427
ONTARIO PROV CDA		1,100,000			1,134,481
OOMLT 2007-1 M2 FLT 01/25/2037		141,903			851
OOMLT 2007-4 M2 FLT 04/25/2037		64,501			645
OOMLT 2007-5 M2 FLT 05/25/2037		103,202			805
OPERA CMH A FLT 01/15/2015		300,000			276,821
ORIX CORP 1% CVB 31MAR14		90,000,000			1,413,177
PALOMAR CALIF CMNTY COLLEGE		300,000			292,299
PARAGON MTGS PLC		189,858			155,023


Identity of issue, borrower, lessor, or similar party including Maturity Date, Rate of	Shares/ Par
Interest, Collateral, Par, or Maturity Value	Value			Current Value
PEARSON DLR FIN TWO PLC		725,000			805,722
PHH CORP 4 09/01/2014		1,850,000			2,086,899
PKD 2.125 07/15/2012		500,000			485,000
PLD 2.625 05/15/2038		279,000			277,429
PMI GROUP 4.5% 4/15/20 CONVERT @7.84		238,000			3,178,125
PMI GROUP 6% 9/15/2016		1,645,000			1,187,291
PMI GROUP 8.309% 2/1/2027		887,000			1,385,913
PREFERRED TERM SECS XVI FLT 03/23/2035		135,000			46,575
PREFERRED TERM SECS XX CL A-2 FLT 03/22/2038		547,381			194,320
PREFERRED TERM SECS XX FLT 03/22/2038 144A		271,742			102,583
PREFERRED TERM SECS XXI FLT 03/22/2038 144A		1,349,700			492,640
PREFERRED TERM SECS XXVII LTD FLT 12/22/2037 144A		96,021			53,292
PREFERRED TERM XXII FLT 09/22/2036 144A		858,487			321,933
PREFERRED TERM XXIII FLT 12/22/2036		1,077,961			582,387
PREFERRED TERM XXIII FLT 12/22/2036 144A		1,000,103			522,554
PRIMA 2006-CR1A A1 5.417 12/28/2048		2,513,389			2,275,208
PRIMA 2006-CR1A A2 5.533 12/28/2048		348,000			282,750
PROLOGIS 3.25 03/15/2015		231,000			255,111
PUMA MASTERFUND11		252,700			247,623
PXD 2.875 01/15/2038		1,197,000			1,806,592
PYI CORPORATION LTD 2% 2011		12,392			23,754
QBE FUNDING TRUST 0% 12MAY30 REGS		2,500,000			1,525,000
QUINN GROUP 5.62% 10/31/2012		12,550			5,020
RADIOSHACK CORP 2.5 08/01/2013 144A		1,709,000			1,820,162
RALI 2006-QO3 A1 FLT 04/25/2046		103,057			42,253
RALI 2006-QO7 1A1 FLT 09/25/2046		222,170			93,034
RALI 2006-QS10 AV FLT 08/25/2036		9,939,699			158,836
RALI 2007-QH7 1A2 FLT 08/25/2037		547,679			153,980
RALI 2007-QS10 AV FLT 09/25/2037		10,348,603			109,695
RALI 2007-QS6 AV FLT 04/25/2037		19,192,270			142,119
RAMP 2005-RS7 M1 FLT 07/25/2035		41,926			11,530
RAMP 2006-NC1 M2 FLT 01/25/2036		83,852			6,708
RASC 2006-KS1 M2 FLT 02/25/2036		90,302			18,512
RASER TECHNOLOGIES INC 8 04/01/2013 ROR		30,000			10,425
RAST 2006-A14C 2A7 FLT 12/25/2036		1,434,140			53,260
RAST 2006-A3CB AX 6 01/25/2046		409,696			85,534
RAST 2006-A5CB AX 6.25 06/25/2036		464,617			247,205
RAST 2007-A1 A4 FLT 03/25/2037		2,222,070			250,974
REALKREDIT DANMARK		900,000			162,021
REG DIVERSIFIED FUNDING 9.25 03/15/2030 144A		340,431			217,876
RFMSI 2006-S1 1A2 FLT 01/25/2036		56,826			77,226
RFMSI 2006-S7 AV FLT 08/25/2036		897,227			4,598
RIG 1.5 12/15/2037 SERIES B		98,000			96,589
RIG 1.5 12/15/2037 SERIES C		4,450,000			4,305,375
RIVERSIDE CALIF ELEC REV		200,000			202,136
ROBE2 2A B1L FLT 08/30/2013		538,000			461,335
ROYAL BANK OF SCOTLAND		300,000			411,159
ROYAL BK OF SCOTLAND PLC		1,500,000			1,510,460
ROYAL BK SCOTLND GRP PLC 144A		400,000			409,464
SAAD SA INVEST FLT 08/24/2012		25,100			4,769
SABR 2007-BR3 M1 FLT 9 04/25/2037		129,003			1,290
SABR 2007-BR4 M2 FLT 05/25/2037		59,713			269
SABR 2007-NC1 M2 FLT 12/25/2036		34,374			34
SACO 2006-9 A1 FLT 08/25/2036		105,416			34,835
SAMI 2004-AR5 2A3 FLT 10/19/2034		36,503			23,682
SAMI 2005-AR8 A2 FLT 02/25/2036		244,384			146,631
SAMI 2006-AR3 12X 1 04/25/2036		3,723,030			62,510
SAMI 2006-AR7 A1A FLT 08/25/2036		498,059			298,213
SARM 2006-2 5A1 FLT 03/25/2036		95,494			70,347
SARM 2007-1 1A1 FLT 02/25/2037		282,565			142,342
SASC 2005-S7 A2 FLT 12/25/2035		36,950			23,675
SASC 2006-BC4 M2 FLT 12/25/2036		127,770			64
SASC 2006-BC6 M2 FLT 01/25/2037		236,540			1,183
SASC 2006-OW1 A6M FLT 12/25/2035 144A		214,058			1,391
SASC 2007-BC1 M2 FLT 02/25/2037		232,205			2,903
SASC 2007-EQ1 M2 FLT 03/25/2037		25,801			258
SEM GROUP 1 LIEN		204,772			206,308
SEM GROUP 2ND LIEN		340,896			343,453
SFEF		100,000			136,049
SINA 0% 07/15/23		738,000			1,971,569
SLOSO 2005-1A A1L FLT 10/15/2035		1,268,980			520,282
SNDK 1% 05/15/13		461,000			447,724
SNS BANK NV		300,000			421,177
SOCIETE GENERALE SCF		300,000			422,751
SOMF 1 A2 FLT 04/22/2014		173,046			185,509
SOTHEBYS 3.125 06/15/2013		150,000			219,818
SOTHEBYS 7.75 06/15/2015		(41,000	)		(44,496	)
SSP A1 GBP TL		1,187			1,536
SSP AMERICA (USA), LLC A11 USD TL		2,571			2,134
SSP FINANCING LIMITED, LONDON (B1) D SEK TL		25,672			1,913
SSP FINANCING LIMITED, LONDON (B1) E NOK TL		50,296			4,318


Identity of issue, borrower, lessor, or similar party including Maturity Date, Rate of	Shares/ Par
Interest, Collateral, Par, or Maturity Value	Value			Current Value
SSP FINANCING LIMITED, LONDON A13 USD TL		1,887			1,566
SSP FINANCING LIMITED, LONDON B1 A GBP TL		11,107			8,659
SSP FINANCING LIMITED, LONDON B1 B EUR TL		2,712			1,814
SSP FINANCING LIMITED, LONDON B1 C USD TL		2,470			1,235
SSP FINANCING SPAIN SL, MADRID A6 EUR TL		2,659			2,951
SSP FINANCING UK LTD, LONDON A2 GBP TL		18,862			24,412
SSP FINLAND FINANCING OY, HELSINKI A7 EUR TL		1,882			2,089
SSP FRANCE FINANCING SAS, PARIS A4 EUR TL		512			568
SSP NORWAY FINANCING AS, OSLO A9 NOK TL 2		93,964			13,392
SSP SWEDEN FINANCING AB, STOCKHOLM A10 SEK TL		47,772			5,909
STALLION OILFIELD HLDNGS 10.5 02/15/2015 144A		676,000			703,040
STAR ASIA FINANCIAL LTD-144A		108,299			140,789
STAR ASIA SPV		37,730			56,218
SUNCORP METWAY LTD		400,000			658,052
SUNPOWER CORP 4.5 03/15/2015		144,000			132,291
SUNPOWER CORP 4.75 04/15/2014		578,000			533,501
SURF 2007-BC1 M2 FLT 01/25/2038		109,652			1,031
SWAN 2010 1 A		403,592			413,876
SWEDBAN HYPOTEK AB		100,000			135,775
SYMC 0.75 06/15/2011		596,000			617,278
SYMC 1 06/15/2013		(1,305,000	)		(1,484,943	)
TATA MTR CARS 0% 12JUL12 CVB		1,000,000			1,390,000
TCH PP 9.00% BLT 03/31/2016		22,900			28,480
TCH PP 9.35% AMRT 05/26/2017		201,770			187,646
TCH PP 9.35% BLT 03/31/2016		350,600			326,058
TCW HIGH INCOME PARTNERS 8.104 08/24/2013		466,000			459,010
TECFP 0.5% 01/01/2016		(1,435	)		(175,879	)
TENNESSEE VALLEY AUTHORITY		1,126,000			1,293,226
TEVA 1.75 02/01/2026		(1,302,000	)		(1,420,281	)
TEXTRON INC 4.5 05/01/2013		1,458,000			2,771,128
THOMSON SA TL A1 EUR		315,235			384,677
THOMSON SA TL A2 USD		27,038			24,672
THOMSON SA TL B1 EUR		839,183			1,024,044
THOMSON SA TL B2 USD		57,938			52,869
TITN 2006-2X A FLT 01/23/2016		154,223			160,702
TITN 2006-4FSX A2 FLT 09/03/2013		196,000			281,937
TITN 2007-1X A FLT 01/20/2017		837,245			1,099,898
TITN 2007-1X B FLT 01/20/2017		291,000			335,780
TITN 2007-1X C FLT 01/20/2017		177,000			189,057
TITN 2007-1X E FLT 01/20/2017		155,000			99,698
TMAN 6 A FLT 10/22/2016		352,290			360,405
TMF TL A3 USD		33,013			29,546
TMF TLA 1 EUR		162,158			187,578
TMF TLA 1 USD		86,156			74,525
TMTS 2003-6HE M1 FLT 11/25/2033		31,272			24,823
TNK BP FINANCE SA		200,000			226,760
TOBACCO SETTLEMENT AUTH IOWA		435,000			346,443
TORR 2009 3 A		376,760			384,521
TRIBUNE TL B L+300 NA		28,351			18,286
TRONOX WORLDWIDE/FINANCE 9.5 12/01/2012 NR		24,000			39,924
TROPC 2004-1A A1L FLT 07/15/2034		333,691			130,140
TROPC 2004-4A A2L FLT 04/15/2035 144A		1,479,000			295,800
TROPC 2006-5A A1L2 FLT 07/15/2036		2,037,867			825,336
TRX 9.5 12/01/2012 (IN DEFAULT)		559,000			1,523,387
TSY 2 3/4PCT 2015		3,000,000			4,826,823
TSY 4 1/2PCT 2019		2,200,000			3,763,042
TSY 4 1/2PCT 2034		100,000			163,457
TSY 4 1/4PCT 2036		300,000			472,983
TSY 4 3/4PCT 2015		900,000			1,568,228
TSY 4 3/4PCT 2038		300,000			513,330
TSY 4PCT 2016		1,200,000			2,025,176
TYSON FOODS INC 3.25 10/15/2013		1,392,000			1,705,725
UBS_BBVA 3.22% 07/31/2012		8,600,000			5,319,111
UDR 4% 12/15/35		454,000			457,405
UK TREASURY 5 09/07/2014		(730,000	)		(1,266,468	)
UMC/UNIMICRON TECH 0% 02DEC14 CVB		300,000			385,500
UNITE (USAF) PLC		200,000			288,080
UNITED STATES TREAS BDS		1,574,073			1,810,276
UNITED STATES TREAS BILLS		260,000			259,832
UPCB FINANCE LTD		200,000			281,726
US FOOD 10.25% 06/30/15 (144A)		1,147,000			2,620,845
US TREASURY BILL 0 07/28/2011		2,000,000			1,997,780
US TREASURY N/B 2.75 02/28/2013		(10,000,000	)		(10,456,250	)
UT2 FUNDING PLC 5.321 06/30/2016 (FLAT)		774,000			770,265
VALE OVERSEAS LTD		200,000			220,986
VALEO		400,000			543,650
VALEO 1A A2 FLT 01/15/2013 144A		366,567			327,161
VCWHE 2009-1 VAE9 FLT 11/26/2035		107,193			28,004
VEDANTA RESOURCES 5.5% 07/13/2016		2,700,000			3,342,719
VEDANTA RESOURCES JERSEY 4 03/30/2017		1,050,000			1,076,606
VELA 2006-1A A FLT 12/10/2046 (NON ACCRUAL)		440,006			118,802


Identity of issue, borrower, lessor, or similar party including Maturity Date, Rate of	Shares/ Par
Interest, Collateral, Par, or Maturity Value	Value			Current Value
VIVENDI		254,000			273,975
WACHOVIA MTG LN TR LLC		300,000			244,432
WAL MART STORES INC		100,000			113,842
WAMU 2004-AR10 X 0 07/25/2044		958,473			46,672
WAMU 2004-AR12 X 0 10/25/2044		1,252,320			57,095
WAMU 2005-AR1 A1A FLT 01/25/2045		23,319			19,221
WAMU 2005-AR1 X 0 01/25/2045		673,737			27,034
WAMU 2005-AR2 2A23 FLT 01/25/2045		446,433			284,356
WAMU 2005-AR2 X 0 01/25/2045		759,485			25,514
WAMU 2005-AR9 A1A FLT 07/25/2045		246,060			207,363
WAMU 2006-AR1 B2 FLT 01/25/2046		62,433			1,155
WAMU 2006-AR3 B2 FLT 02/25/2046		62,669			909
WAMU 2006-AR4 1A1A FLT 05/25/2046		131,791			104,774
WAMU 2007-OA3 2A1A FLT 04/25/2047		608,168			395,401
WAMU 2007-OA3 B1 FLT 04/25/2047		86,529			52
WAMU MTG PASS THROUGH CTFS		345,421			265,162
WAMU MTG PASS THRU CTFS		283,694			222,633
WASH MUTUAL PFD 6.534 03/29/49 144A (NON-ACC)		124,000			2,480
WASH MUTUAL PFD FDG III 6.895 06/49 144A (NON-ACC)		120,000			2,400
WELLS FARGO MTG BACKED SEC		918,156			822,629
WESTPAC BANKING CORP		1,200,000			1,197,402
WESTPAC SECURITIES NZ LT		400,000			409,316
WFMBS 2006-2 1A4 FLT 03/25/2036		115,540			132,978
WFMBS 2006-AR14 2A3 FLT 10/25/2036		68,154			55,705
WFMBS 2006-AR16 A1 FLT 10/25/2036		190,435			151,608
WFMBS 2007-7 A9 FLT 06/25/2037		61,712			84,449
WHITE NIGHTS GAZPROM		300,000			359,220
WI TREASURY SEC		401,204			410,795
WILMAR INTERNATIONAL LTD 0% 12/18/12 CVB		300,000			384,750
WIND ACQUISITION 11 3/4 7/15-17 (144A)		716,000			2,821,820
WIND ACQUISITION 12.25 7/15-17 144A PIK		960,675			3,178,307
WINDERMERE SER I CL D FLT 01/31/2023		95,096			92,200
WM COVERED BOND PR		800,000			1,101,562
WMABS 2006-HE1 M4 FLT 04/25/2036		8,904			14
WMABS 2007-HE2 M1 FLT 02/25/2037		105,814			254
WMALT 2005-6 2A3 FLT 08/25/2035		12,547			19,469
WMALT 2005-7 CX 5.5 09/25/2035		242,977			37,504
WMALT 2006-AR4 DA FLT 06/25/2046		785,523			342,699
WMALT 2006-AR4 X4 1.25 06/25/2046		181,413			6,612
WMALT 2007-OA3 MB1 FLT 04/25/2047		130,169			52
WORLD DIRECTORIES PIK		244,146			408
WYNDHAM WORLDWIDE 3.5 05/01/2012		1,495,000			3,614,233


Total Fixed Income Securities		748,487,570			313,101,649


Derivatives
+NCMCCS 2011 SEP 47 CALL 09/20/2011		20,200			41,158
10YR SWAP FUTURE MAR11		1			94
10YR US TREASURY NOTE FTR OPTN		(8,000	)		(2,875	)
317512RD5 ECAL EUR VS USD BOA		(320,000	)		(7,326	)
317512WA5 OTC ECAL USD VS KRW		(800,000	)		(6,538	)
317513FX2 CDX.O IG15 5Y FBF		(1,700,000	)		(1,033	)
317513GK9 ITRAXX EUR14 5Y MYC		(1,500,000	)		(2,605	)
317513GS2		(300,000	)		(2,432	)
317514RW9 ITRAXX.O EUR14 5Y		(700,000	)		(1,684	)
317514RX7 ITRAXX.O EUR14 5Y		(4,200,000	)		(7,350	)
317515GR9 CDX.O IG15 5Y MYC		(3,200,000	)		(1,945	)
317517J92 ITRAXX 5YP 1.6		(200,000	)		(350	)
317517R93 ITRAXX 1.2 5Y BPS		(300,000	)		(1,620	)
317517S92 ITRAXX P 1.3 5Y UAG		(200,000	)		(140	)
31751A4A8 ITRAXX 1.3 5YP MYC		(700,000	)		(2,971	)
31751A6D0 ITRAXX EUR14 5Y UAG		(900,000	)		(4,860	)
317526CD1 CDX.O IG15 5Y MYC		(1,200,000	)		(4,977	)
317526CR0 ITRAXX P 1.30 5Y BPS		(400,000	)		(281	)
317U374B6 IRO USD 10Y SWAPTION		(800,000	)		(545	)
317U693B0 SWAPTION 3YP 3.0 JPM		(900,000	)		(11,363	)
317U694B9 SWAPTION 3Y P 3 CBK		(1,100,000	)		(13,888	)
317U695B8 IRO 3Y RYL		(1,000,000	)		(12,626	)
317U696B7 IRO USD 3Y P3 BOA		(1,500,000	)		(18,939	)
317U698B5 IRO USD 3Y P3 DUB		(900,000	)		(11,363	)
317U699B4 IRO USD P3 BRC		(600,000	)		(7,575	)
317U701B0 IRO USD 3Y P2.75 DUB		(900,000	)		(13,593	)
317U702B9 IRO USD 3Y P2.75 RYL		(800,000	)		(12,082	)
317U744B9 IRO 2Y RYL		(6,000,000	)		(81,296	)
317U745B8 SWAPTION 2Y 2.25 BOA		(3,300,000	)		(44,713	)
317U861B6 IRO USD 1Y DUB		(3,900,000	)		(2,826	)
317U862B5 IRO USD 1Y DUB		(3,900,000	)		(3,334	)
90DAY EURO$ FUTR JUN11		(5	)		(1,688	)
90DAY EURO$ FUTR 17DEC2012		(5	)		(888	)
90DAY EURO$ FUTR 17SEP2012		(5	)		2,950
90DAY EURO$ FUTR 18JUN2012		(5	)		1,650


Identity of issue, borrower, lessor, or similar party including Maturity Date, Rate of	Shares/ Par
Interest, Collateral, Par, or Maturity Value	Value			Current Value
90DAY EURO$ FUTR 18MAR2013		(1	)		63
90DAY EURO$ FUTR 19DEC2011		(5	)		(713	)
90DAY EURO$ FUTR 19SEP2011		(5	)		(1,438	)
90DAY EURO$ FUTR DEC13		(1	)		188
90DAY EURO$ FUTR DEC14		(1	)		38
90DAY EURO$ FUTR DEC15		(1	)		(688	)
90DAY EURO$ FUTR JUN13		(1	)		125
90DAY EURO$ FUTR JUN14		(1	)		125
90DAY EURO$ FUTR JUN15		(1	)		(50	)
90DAY EURO$ FUTR MAR11		(5	)		(1,463	)
90DAY EURO$ FUTR MAR12		(5	)		300
90DAY EURO$ FUTR MAR14		(1	)		163
90DAY EURO$ FUTR MAR15		(1	)		(13	)
90DAY EURO$ FUTR SEP13		(1	)		175
90DAY EURO$ FUTR SEP14		(1	)		88
90DAY EURO$ FUTR SEP15		(1	)		(88	)
AA 2012 JAN 5 PUT		128			896
AAPL Jan11 220 PUT		(157	)		(45,143	)
AAPL Jan11 250 PUT		(86	)		(25,854	)
AAPL Jan11 260 PUT		(71	)		(24,786	)
AAPL Jan11 280 PUT		(38	)		(17,955	)
ABX.HE.PENAAA.06-2 11BPS 05/25/2046		324,683			68,990
ACER INC (2353.TT)		(179,726	)		(39,683	)
ACL 2011 JAN 185 CALL		4			6
ACL.N 2011 JAN 170 CALL 01/22/2011		36			126
ADM 2012 JAN 45 CALL		59			1,888
ADS / USD FORWARD, 01-04-11		(634	)		(6.79	)
AFRICAN BARRICK GOLD LTD SWP CS		821			1,015
AFRICAN MINERALS LTD SWP CSFB		(3,645	)		(1,170	)
AGN 2011 JAN 65 CALL		189			79,380
AGRICULTURAL BANK OF CHINA- A SHS USD SWP MS		1,516,500			12,187
AIG 2011 JAN 43 PUT 01/22/2011		48			312
ALCON INC SWP DB		12,364			86,298
AMD DFT 100 09/20/2012 DB		500,000			687
AMGN A L+45 DB ASW		100,000			0
AMP LTD AUD SWP CS		(25,906	)		(3,058	)
AMP LTD AUD SWP ML		(20,680	)		(2,385	)
AMR 2011 MAY 10 CALL 05/21/2011		416			14,352
ANGANG NEW STEEL CO SWP DB		210,500			(83,197	)
ANGLO AMERICAN DFT 100 20JUN2014		2,000,000			(12,790	)
ANGLO AMERICAN PLC MS SWP USD		(207,262	)		(2,144,126	)
ANHUI CONCH CEMENT CO LTD HKD SWP CS		(1,035	)		(491	)
ANNALY MORTGAGE MANAGEMENT SWP CS		(8,257	)		(3,345	)
ANNALY MORTGAGE MANAGMENT DB SWP USD		(24,035	)		(47,294	)
ANTOFAGASTA PLC SWP BARC		(1,104	)		(3,488	)
ANTOFAGASTA PLC SWP MS		(12,248	)		(76,531	)
ARCELORMITTAL DFT 100 20JUN2014 BOA		1,500,000			57,637
ARCELORMITTAL DFT 100 20MAR2016 JPM		419,000			33,383
ARM DFT 500 03/20/2016 BAC		500,000			(18,074	)
ARM DFT 500 03/20/2016 DB		500,000			(17,849	)
ARM.N 2012 JAN 20 CALL		(71	)		(31,950	)
ASIA CEMENT CORP USD SWP DB		(41,000	)		(2,466	)
ASTRAZENECA PLC SWAP		(4,910	)		21,256
ASUSTEK COMPUTER INC		(90,000	)		(180,603	)
AUD RTR FIX 4.50% 14AUG2012 SWAPTION UBS 3		7,300,000			12,102
AUD RTR FIX 4.55% 14AUG2012 SWAPTION UBS 3		7,300,000			12,510
AUD RTR FIX 4.87% 08MAR2012 SWAPTION		3,400,000			5,717
AUD RTR FIX 4.87% 09MAR2012 SWAPTION		3,400,000			5,373
AUSTRALIAN DOLLAR Forward		(2,000,000	)		(17,887	)
AVB DFT 100 03/20/2015 BARC		500,000			(5,839	)
AVIVA PLC SWP BARC		5,315			1,502
AXA ASIA PACIFIC HOLDINGS AUD SWP CS		3,370			2,417
AXA ASIA PACIFIC HOLDINGS AUD SWP DB		28,590			20,590
AXA ASIA PACIFIC HOLDINGS AUD SWP ML		22,600			16,235
B2W COM GLOBAL DO VAREJO		23,719			(21,917	)
BANCO BILBAO VIZCAYA ARGENTA SWP BARC		(10,850	)		10,985
BANCO BILBAO VIZCAYA ARGENTA UBS CFD		(76,805	)		59,893
BANCO COMERCIAL PORTUGUES-R JPM SWAP		(99,473	)		4,807
BANCO POPULAR SWP UBS		(33,609	)		41,732
BANCO SANTANDER SA SWP BZW		(11,486	)		3,958
BANCO SANTANDER SWP CSFB		(28,228	)		27,770
BANK NIFTY NSE JAN11 INR SWP DB (X25)		(600	)		(4,571	)
BANK NIFTY NSE JAN11 USD FUT SWP UBS (X25)		(300	)		(3,449	)
BANK OF AMERICA CORP-WRTS 10/28/18		66,498			177,882
BANK ZACHODNI WBK SA SWP CS		537			672
BANK ZACHODNI WBK SA SWP DB		400			491
BANKINTER SA SWP MS		(11,937	)		11,204
BARRATT DEVELOPMENTS ML SWAP		123,749			(27,479	)
BBT 2011 JAN 26 CALL 01/22/2011		175			16,188
BBT 2011 JAN 27 CALL 01/22/2011		52			2,496
BBVA SM 2012 SEP 14.41 CALL 09/21/2012		3,850			10,709


Identity of issue, borrower, lessor, or similar party including Maturity Date, Rate of	Shares/ Par
Interest, Collateral, Par, or Maturity Value	Value			Current Value
BBY 1 C45 2012 JAN 45 CALL		164			19,352
BBY Feb11 34 CALL		(131	)		(276,360	)
BC DFT 500 06/20/2014 BARC		500,000			(47,381	)
BCM AU DFT 500 20DEC2012 BARC 2		55,000			29,630
BCM AU DFT 500 20DEC2012 DB		146,000			78,653
BCM AU DFT 500 20DEC2012 DB 6		66,000			35,556
BCM AU DFT 500 20DEC2012 DB3		146,000			78,653
BCM AU DFT 500 20DEC2012 DB4		122,000			65,724
BCM AU DFT 500 20DEC2012 JPM 6		83,000			44,714
BCM AU DFT 500 20DEC2012 JPM 7		87,000			46,869
BCM AU DFT 500 20DEC2012 JPM 8		88,000			47,407
BCM AU DFT 500 20DEC2012 MS4		35,000			18,855
BCM AU DFT 500 20DEC2012 MS5		53,000			28,552
BCM AU DFT 500 20DEC2015 BARC 3		(55,000	)		(38,086	)
BCM AU DFT 500 20DEC2015 DB2		(146,000	)		(101,101	)
BCM AU DFT 500 20DEC2015 DB5		(88,000	)		(60,937	)
BCM AU DFT 500 20DEC2015 DB7		(66,000	)		(45,703	)
BCM AU DFT 500 20DEC2015 JPM		(88,000	)		(60,937	)
BCM AU DFT 500 20DEC2015 MS3		(35,000	)		(24,236	)
BCM AU DFT 500 20DEC2015 MS6		(53,000	)		(36,701	)
BCM AU DFT 500 20JUN2015 JPM		(300,000	)		(202,941	)
BCM AU DFT 500 20JUN2015 MS		(50,000	)		(33,824	)
BGC 2011 JAN 10 PUT		3			8
BK Jan11 28 CALL		(777	)		(183,761	)
BLACKROCK INC SWP CSFB		(28,989	)		(631,652	)
BMRN 2011 JAN 7.5 PUT		33			165
BOSTON PROPERTIES INC SWP DB		84			220
BoughtAUD/SoldUSD		—			23,927.30
BoughtBRL/SoldUSD		—			5,759.16
BoughtCAD/SoldUSD		—			16,506.07
BoughtCNY/SoldUSD		—			35,116.79
BoughtDKK/SoldUSD		—			3,073.11
BoughtEUR/SoldUSD		—			(42,369.81	)
BoughtIDR/SoldUSD		—			(2,948.86	)
BoughtINR/SoldUSD		—			(856.43	)
BoughtJPY/SoldUSD		—			1,161.18
BoughtKRW/SoldUSD		—			(2,979.96	)
BoughtMXN/SoldUSD		—			24,566.91
BoughtNOK/SoldUSD		—			3,971.33
BoughtPHP/SoldUSD		—			(1,033.39	)
BP 2011 APR 35 PUT 04/16/2011		(228	)		(8,436	)
BP 2011 APR 40 CALL 04/16/2011		228			118,560
BP 2011 APR 46 CALL 04/16/2011		(228	)		(38,532	)
BP 2011 FEB 45 CALL 02/19/2011		45			6,210
BP 2011 JAN 43 CALL 01/22/2011		34			6,035
BP 2011 JAN 44 CALL 01/22/2011		27			3,078
BP Apr11 41 PUT		(186	)		(17,550	)
BP PLC SWP CSFB		44,421			8,280
BPIM DFT 100 20JUNE2014 DB		108,000			7,050
BPIM DFT 100 20JUNE2014 JPM		108,000			7,050
BPIM DFT 100 20JUNE2014 MS		102,000			6,658
BPIM DFT 100 20JUNE2014 UBS		90,000			5,875
BRE 4.125 26 L+60 DB ASW		125,000			725
BRENT CRUDE FUTR FEB11		(1	)		(3,720	)
BRIDGESTONE 1345.227 PUT 11MAR11 ML		(10,900	)		(843	)
BRIDGESTONE 1503.489 PUT 11MAR11 ML		10,900			4,099
BRITISH AIRWAYS CSFB SWAP		(31,208	)		3,099
BRITISH AIRWAYS DFT 500 20SEP2014 JPM		650,000			(76,341	)
BRITISH AIRWAYS EUR SWP ML		(90,741	)		(99,920	)
BRITISH AIRWAYS EUR SWP UBS		(49,611	)		(60,839	)
BRITISH AIRWAYS PLC EUR SWP MS		(260,764	)		(55,716	)
BRITISH AIRWAYS PLC SWP JPM		(42,330	)		(2,976	)
BRITISH AIRWAYS PLC SWP UBS		(52,679	)		8,427
BRITISH AIRWAYS SWP EUR CS		(1,181	)		65
BRITISH AIRWAYS SWP MS		(775,144	)		(313,563	)
BRITISH AMERICAN TOBACCO PLC		22,840			29,415
BRITISH POUND Forward		(7,600,000	)		161,801
BRITISH POUND Forward		(18,100,000	)		(41,464	)
BRITISH SKY BROADCASTING GROUP SWP BARC		71,679			35,609
BSY LN SWP CSFB		28,202			12,398
BWA 2011 JAN 30 CALL		(69	)		(293,595	)
BWA DFT 100 06/20/2012 BAC		500,000			(4,964	)
BWA DFT 370 06/20/2012 BAC		500,000			(25,344	)
BXP 2.875 37 L+57 DB ASW		100,000			0
BXP 3.625 144A SWP DB 1		1,267,000			411,157
BXP CS SWP USD		(3,274	)		(13,554	)
BXP DFT 172 03/20/2014 CS		500,000			(17,955	)
BXP DFT 420 03/20/2014 JPM		500,000			(57,491	)
C.N 2012 JAN 5 CALL		325			19,338
CABLE & WIRELESS WORLDWIDE SWP CS 2		18,449			(2,889	)
CAC 2011 MAR 3350 PUT 03/18/2011		(48	)		(25,612	)


Identity of issue, borrower, lessor, or similar party including Maturity Date, Rate of	Shares/ Par
Interest, Collateral, Par, or Maturity Value	Value			Current Value
CAC 2011 MAR 3750 PUT 03/18/2011		48			82,100
CAC40 10 EURO FUT JAN11		(22	)		32,898
CAM DFT 100 06/20/2011 BOA		500,000			(2,324	)
CAM.O 2011 MAY 35 PUT		(140	)		(8,400	)
CAR 1 C17.5 2012 JAN 17.5 CALL		(94	)		(20,915	)
CAR 2011 JAN 17.5 CALL		(74	)		(370	)
CAR DFT 500 12/20/2014 BAC3		500,000			(28,972	)
CAR DFT 500 12/20/2014 DB		500,000			(28,972	)
CCU DFT 500 09/20/2016 DB		500,000			106,843
CDX MAIN HY SER14 500 06/20/2015 BARC		2,000,000			(87,966	)
CDX MAIN HY SER14 500 06/20/2015 CITI		500,000			(21,991	)
CDX MAIN HY SER14 500 06/20/2015 CSFB		1,000,000			(43,983	)
CDX MAIN HY SER14 500 06/20/2015 JPM		1,000,000			(43,983	)
CECE COMPOSITE INDEX EUR SWP CS		(108	)		(2,212	)
CEMEX SAB-SPONS ADR SWP CITI		(35,401	)		(5,311	)
CEPH 2011 JAN 30 PUT		125			625
CEPH 2012 JAN 30 PUT		48			1,560
CFS RETAIL PROPERTY TRUST AUD SWP UBS		(125,380	)		7,494
CFS RETAIL PROPERTY TRUST SWAP CSFB		(40,407	)		787
CHE 1.875 14A ASW 15MAY14		100,000			5,848
CHESAPEAKE ENERGY SWP CSFB		(4,600	)		66,838
CHINA CNR CORP ML USD SWP		150,000			16,063
CHINA CNR CORP MS USD SWP		44,000			209
CHINA CUSTOM MIDCAP HKD SWP MS		(12,029	)		8,617
CHINA MERCHANTS BANK A SHS SWAP DB		172,890			(21,166	)
CHINA MERCHANTS BANK USD SWP MS		299,880			(60,720	)
CHINA RENMINBI Forward		23,187,500			16,462
CHINA RENMINBI Forward		(56,365,000	)		(45,948	)
CHIQUITA BRANDS SWP CS		(1,192	)		(513	)
CHK DFT 06/20/2017		250,000			27,853
CIEN 1 C20 2012 JAN 20 CALL		(168	)		(67,620	)
CIEN 2012 JAN 10 PUT		316			11,692
CIEN 2012 JAN 7.5 PUT		31			558
CITIGROUP INC 0% PFD SWP DB		23,690			497,074
CITIGROUP SWP CS		(32,700	)		(26,798	)
CITIGROUP SWP DB		(580,393	)		89,292
CLARIANT DFT 470 20JUN2014 DB		100,000			(17,839	)
CLARIANT DFT 490 20MAR14 GS		100,000			(17,614	)
CMBX BBB- SER 1 134 MS 10/12/52		1,000,000			704,739
CMBX NA BBB- SER 2 CDX 87 15MAR49 BARC		500,000			399,915
CMED 2012 JAN 7.5 PUT		714			67,830
CMED ADR SWP CS		(9,062	)		168,877
CMED ML SWP USD		(4,439	)		6,506
CNP DFT 390 12/20/2013 ML		1,000,000			(108,304	)
COAL OF AFRICA LTD SWP CSFB		71,091			26,202
COMPASS GRP CS SWP		(4,556	)		(1,028	)
CQB 2012 JAN 15 CALL		(127	)		(25,718	)
CQB 2012 JAN 7.5 PUT		384			15,360
CRH PLC SWP CSFB		(9,295	)		(14,828	)
CROWN LTD AUD SWP MS		(15,985	)		(2,760	)
CS PRIME RMBS 2010-1 DFT 07/20/2047 CS		(1,058,000	)		176
CSAPMIDC — HK/SG MID CAP BASKET USD SWP CS		(3,861	)		8,082
CTX DFT 325 03/20/2014 CS		500,000			(20,167	)
CTX DFT 365 03/20/2014 CS		500,000			(26,319	)
CX US 2012 JAN 4.81 PUT		254			5,679
CX US 2013 JAN 5 PUT 01/19/2013		731			33,261
DAEWOO INTERNATIONAL CORP USD SWP ML		(300	)		809
DAEWOO INTL USD SWP UBS		(8,000	)		(23,232	)
DANISH KRONER Forward		(16,000,000	)		(54,971	)
DAX 2011 MAR 5850 PUT 03/18/2011		(65	)		(14,647	)
DAX 2011 MAR 6500 PUT 03/18/2011		65			51,677
DAX INDEX FUTURE MAR11		(3	)		11,033
DBK GY 2011 FEB 35 PUT 02/18/2011		(90	)		(4,694	)
DBK GY 2011 FEB 40 CALL 02/18/2011		90			15,045
DBK GY 2011 FEB 44 CALL 02/18/2011		(90	)		(3,490	)
DDR DFT 100 12/20/2015 BOA		500,000			23,251
DEBEHNAMS PLC MS SWP GBP		289,056			(34,919	)
DEBENHAMS CS SWP		(1,604,273	)		37,772
DEBENHAMS PLC SWP ML		1,203,740			85,374
DEBENHAMS PLC SWP UBS		1,014,142			75,905
DENA BANK USD UBS SWP		400			(75	)
DENTSU INC		(13,711	)		(16,046	)
DIXONS RETAIL PLC DFT 500 20MAR2016 BOA		118,000			5,612
DIXONS RETAIL PLC DFT 500 20MAR2016 JPM		186,000			8,846
DIXONS RETAIL PLC DFT 500 20MAR2016 UBS		196,000			9,321
DJ EURO ST BANK P INDEX ML SWP EUR		(3,529	)		(7,309	)
DJ EUROSTOXX 600 IDX CS SWP		(596	)		4,289
DJ EUROSTOXX 600 INDEX ML SWAP		(4,091	)		(5,145	)
DOW DFT 272 12/20/2013 BAC		500,000			(30,063	)
DOW DFT 640 03/20/2014 DB		500,000			(90,564	)
DRE 3.75 11A L+50 DB ASW		150,000			0


Identity of issue, borrower, lessor, or similar party including Maturity Date, Rate of	Shares/ Par
Interest, Collateral, Par, or Maturity Value	Value			Current Value
DROGASIL DVD,EX DATE 12/15/10		4,121			—
DROGASIL DVD,EX DATE 9/17/10		8,793			—
DROGASIL SA		14,043			31,397
DTV Jan11 34 PUT		(96	)		(17,500	)
DTV Jan11 40 CALL		(172	)		(155,844	)
EEM 2011 FEB 46 PUT 02/19/2011		21			2,142
EEM 2011 JAN 46 PUT 01/22/2011		20			910
EOP DFT 06/20/2013		500,000			(4,432	)
EOP DFT 06/20/2013		500,000			(12,508	)
EOP DFT 06/20/2013 MS		500,000			(3,562	)
EOP DFT 100 03/20/2017 CITI		4,000,000			23,389
EOP DFT 100 09/20/2016 DB		3,000,000			11,583
EOP DFT 100 12/20/2016 DB		500,000			2,279
EOP DFT 100 12/20/2016 UBS		2,000,000			9,116
EOP DFT 65 03/20/2019 BOA		1,000,000			35,569
EQR DFT 100 03/20/2015 JPM		500,000			(2,180	)
EQUINOX MINERALS LTD-CDI AUD SWP CS		26,632			6,556
EUR / USD FORWARD, 01-03-11		(40,056	)		(616	)
EUR / USD FORWARD, 01-04-11		97,338			1,157
EUR FX 3/14/11 FWD (JALC)		(2,900,000	)		(43,560	)
EUR FX 3/16/11 FWD (JA)		(480,000	)		(1,404	)
EUR FX 3/23/11 FWD (MKS)		(960,000	)		(16,104	)
EUR FX 3/24/11 FWD (MKLC)		(3,810,000	)		(63,930	)
EUR FX 3/25/11 FWD (BCLC)		(1,270,000	)		(22,004	)
EUR FX 3/28/11 FWD (BRC)		(4,880,000	)		(81,965	)
EURO CHF 3MO LIFF JUN12		(1	)		(187	)
EURO CHF 3MO LIFFE DEC11		(1	)		(402	)
EURO CHF 3MO LIFFE JUN11		(1	)		(348	)
EURO CHF 3MO LIFFE MAR11		(1	)		(241	)
EURO CHF 3MO LIFFE MAR12		(1	)		(321	)
EURO CHF 3MO LIFFE SEP11		(1	)		(402	)
EURO STOXX 50 MAR11		(29	)		21,196
EURO-BOBL FUTURE MAR11		(10	)		6,820
EURODOLLAR FTR OPTN		(65,000	)		(10,725	)
EURODOLLAR FTR OPTN		(65,000	)		(15,275	)
EUROPEAN MONETARY UNIT Forward		(42,100,000	)		(913,948	)
EURO-SCHATZ FUT MAR11		(1	)		160
EXPE.N 2012 JAN 27.5 CALL		(9	)		(2,340	)
EXPEDIA B WARRANTS 05/07/2012		1,800			2,097
FAIRFAX MEDIA AUD SWP CSFB		(34,861	)		10,071
FAIRFAX MEDIA LTD AUD SWAP DB		(53,364	)		431
FAIRFAX MEDIA MS AUD SWP		(141,667	)		47,235
FE 2011 JAN 37.5 PUT 01/22/2011		18			1,485
FEDERAL BANK LIMITED USD SWP UBS		5,860			(4,019	)
FEDERAL BANK LTD USD SWP JPM		12,100			487
FTSE 100 IDX FUT MAR11		(9	)		(7,929	)
FTSE 250 INDEX ML SWP		(36	)		(53,778	)
FTSE 250 INDEX UBS SWP		(9	)		(23,678	)
FTSE 350 GEN RETAIL IDX ML SWP		(126	)		(2,831	)
FTSE 350 GEN RETAIL IDX SYN BASKET SWP ML		(43	)		(21,560	)
FTSE 350 GEN RETAIL INDEX UBS		(99	)		3,307
FTSE/MIB IDX FUT MAR11		(2	)		4,547
GATEHOUSE LDS 0% 06/20/2011 MS		(500,000	)		(97,940	)
GATEHOUSE LDS 0% 12/20/2011 MS 2		(500,000	)		(169,805	)
GBP / USD FORWARD, 01-04-11		(3,201	)		(38	)
GBP / USD FORWARD, 01-05-11		(2,540	)		(57	)
GBP EUR OTF 03/14/2011		(30,172	)		(2,288	)
GBP FX 3/17/11 FWD (LCMH)		(330,000	)		5,567
GBP FX 3/21/11 FWD (BCPD)		(540,000	)		9,106
GBP FX 3/22/11 FWD (LC)		(2,950,000	)		53,764
GBP FX 3/25/11 FWD (BCLC)		(650,000	)		11,844
GBP FX 3/28/11 FWD (BRC)		(1,730,000	)		31,513
GBP/EUR 14DEC11 OTF MS		(37,818	)		(2,872	)
GBP/EUR 14JUN11 OTF MS		(33,253	)		(2,522	)
GBP/EUR 14JUN12 OTF MS		(34,759	)		(2,704	)
GBP/EUR 14MAR12 OTF MS		(42,729	)		(3,379	)
GBP/EUR 14SEP11 OTF MS		(32,529	)		(2,484	)
GBP/EUR 17DEC12 OTF MS		(32,163	)		(2,603	)
GBP/EUR 17SEP12 OTF MS		(35,055	)		(2,821	)
GENZ 2011 JAN 65 PUT		62			2,914
GERMAN EURO BOBL FUTURES		100,000			(13,402	)
GERMAN EURO BUND FUTURES		3,700,000			1,422
GG 2011 JAN 10 PUT		295			295
GG 2011 JAN 12.5 PUT		98			98
GGP JAN11 14 CALL (ADJ $11.20)		(2	)		(132,240	)
GGP JAN11 15 CALL (ADJ $12)		(39	)		(123,487	)
GGP JAN11 16 CALL (ADJ $12.80)		(7	)		(88,440	)
GGP JAN11 17.50 CALL (ADJ $14)		(20	)		(64,019	)
GLD1 2011 JAN 138 CALL 01/22/2011		20			5,400
GLE FP 2011 MAR 32 PUT 03/18/2011		(103	)		(9,091	)
GLE FP 2011 MAR 34 PUT 03/18/2011		(103	)		(13,361	)


Identity of issue, borrower, lessor, or similar party including Maturity Date, Rate of	Shares/ Par
Interest, Collateral, Par, or Maturity Value	Value			Current Value
GLE FP 2011 MAR 40 PUT 03/18/2011		100			37,043
GLOBALSTAR INC SWP ML		(14,519	)		(6,973	)
GM Mar11 34 PUT		(195	)		(13,320	)
GOLD FIELDS LTD SWP		(4,957	)		3,722
GOLDCORP INC SWP CSFB		(2,269	)		4,266
GOLDCORP INC SWP EXP		8,316			(16,129	)
GOLDEN AGRI-RESOURCES-CW12		1,801,600			340,149
GRYPHON MINERALS LTD AUD SWP UBS		121,668			53,424
GVK POWER & INFRASTRUCTURE LTD MS USD SWP		109,641			(10,019	)
HANG SENG IDX FUT JAN11		(4	)		(12,299	)
HANKYU DEPT DFT 16SEP2011 UBS		30,000,000			(946	)
HEBEI TAIHANG CEMENT CO-A USD SWP MS		28,400			4,798
HKD / USD FORWARD, 01-03-11		97,467			14
HKD / USD FORWARD, 01-04-11		1,525,529			186
HOME RETAIL GROUP SWP CS		(33,332	)		4,559
HONG KONG DOLLAR Forward		(25,000,000	)		4,776
HONG KONG DOLLAR Forward		(60,000,000	)		(5,627	)
HOST HOTELS & RESORTS INC CS SWP USD		(20,664	)		(63,283	)
HPQ May11 41 PUT		(195	)		(10,735	)
HPQ May11 47 CALL		(195	)		(30,475	)
HPT 3.8 27 L+60 DB ASW		250,000			0
HSBC HOLDINGS PLC MS GBP SWP		8,762			(3,954	)
H-SHARES IDX FUT JAN11		(16	)		(34,993	)
HSI 25000 CALL 28JAN11 ML		1,500			5,078
HSI 26000 CALL 28JAN11 ML		(1,500	)		(996	)
HST 2012 JAN 12.5 CALL		(39	)		(23,400	)
HST DFT 500 12/20/2015 UBS		500,000			(64,141	)
HST DFT 500 12/20/2015 UBS		500,000			(64,141	)
HTC CORPORATION		(48,155	)		(792,965	)
HTZ DFT 500 06/20/2014 CS		250,000			(23,077	)
HYNIX DFT 20JUN13 500 BOA		200,000			(2,593	)
HYNIX DFT 20JUN13 500 BOA2		100,000			(1,296	)
HYNIX DFT 20JUN13 500 BOA3		100,000			(1,296	)
HYNIX DFT 20JUN13 500 CS		200,000			(2,593	)
HYNIX DFT 500 20JUN13 CS2		400,000			(5,185	)
HYNIX SEMICONDUCTOR SWP USD DB		(360	)		(392	)
HYNIX SEMICONDUCTOR USD SWP CS		(25,781	)		(6,525	)
HYNIX SEMICONDUCTOR USD SWP ML		(13,040	)		1,253
HYUNDAI HEAVY INDUSTRIES SWP UBS		(555	)		(46,259	)
IBERDROLA SA SWP BARC		(70,568	)		6,764
IBERIA LINEAS AER DE ESPANA SWP CSFB		10,734			(334	)
IBERIA LINEAS AER DE ESPANA SWP UBS		8,150			(515	)
IBEX 35 INDX FUTR JAN11		(7	)		31,614
IBM Apr11 130 PUT		(114	)		(6,734	)
IBM Apr11 140 PUT		(50	)		(4,636	)
IBM Jan11 120 PUT		(18	)		(3,572	)
IBM Jan11 130 PUT		(208	)		(3,281	)
IBM Jan11 135 PUT		(259	)		(3,040	)
IGT 2012 JAN 20 CALL		(75	)		(13,125	)
IGT 2013 JAN 20 CALL		(73	)		(19,710	)
IGT DFT 100 06/20/2014 BAC		500,000			2,335
IGT DFT 100 06/20/2014 MS		500,000			2,335
ILUKA RESOURCES LTD SWP MS		10,350			13,078
IMPALA PLATINUM CS SWP		(1,001	)		(12,937	)
IMPALA PLATINUM UBS CFD SWP		(253	)		(4,796	)
IND & COMM BK OF CHINA — A SWP DB		48,800			(4,324	)
IND & COMM BK OF CHINA 0.5 08/31/2016 CBS USD DB		25			(3,646	)
IND & COMM BK OF CHINA 0.5 08/31/2016 CBS USD MS		167			(24,352	)
IND & COMM BK OF CHINA SWP MS		327,200			(27,208	)
INMARSAT PLC SWP CSFB		69,587			12,601
INPALA PLATINUM HLDGS DB SWP ZAR		(2,508	)		(39,260	)
IPG 2012 JAN 10 CALL		(341	)		(68,200	)
IPG 2012 JAN 12.5 CALL		(270	)		(24,300	)
IPG DFT 500 03/20/2012 CS		500,000			(29,010	)
IPG DFT 500 03/20/2013 JPM		1,000,000			(96,235	)
IR 2011 JAN 10 PUT		34			85
IR 2012 JAN 17.5 PUT		(161	)		(2,415	)
IR DFT 100 06/20/2012 DB2		500,000			(6,456	)
ISE 30 FUTURES FEB11 FRS CSFB		(103	)		(6,552	)
ITRX EUR SUB FIN S14 5Y 100 20DEC2015 CS		1,048,000			141,065
ITRX EUR SUB FIN S14 5Y 100 20DEC2015 JPM		419,000			56,399
ITRX EUR SUB FIN S14 5Y 100 20DEC2015 JPM		419,000			56,399
ITRX EUR SUB FIN S14 5Y 100 20DEC2015 JPM 3		571,000			76,859
ITRX EUR SUB FIN S14 5Y 100 20DEC2015 ML		524,000			70,532
ITRX EUR SUB FIN S14 5Y 100 20DEC2015 MS		524,000			70,532
JAPANESE YEN Forward		(650,000,000	)		(164,643	)
JCP 2011 JAN 30 CALL		(153	)		(38,786	)
JCP 2011 JAN 35 CALL		153			3,978
JCP DFT 100 12/20/2015 UBS		500,000			20,459
JCP DFT 100 12/20/2015 UPB		500,000			20,459
JPM Jan11 37.50 PUT		(103	)		(2,485	)


Identity of issue, borrower, lessor, or similar party including Maturity Date, Rate of	Shares/ Par
Interest, Collateral, Par, or Maturity Value	Value			Current Value
JPMORGAN CHASE BANK NA WTS		330,036			1,316,844
JPY FX 03/23/11 FWD (MKS)		(50,000,000	)		(19,219	)
KAMAN CORP SWP ML		(1,137	)		(3,354	)
KCC DFT 20JUN12 130 ML		600,000			(200	)
KEYCORP SWP CS		(24,069	)		(15,564	)
KINTETSU CORP		(104,285	)		16,623
KOMATSU DFT 105 20DEC13 UBS		10,000,000			(2,565	)
KOMATSU DFT 140 20DEC13 CS		10,940,000			(4,222	)
KOREAN WON Forward		(689,360,000	)		(9,293	)
KOSPI2 240 PUT 13JAN11 UBS (MULTIPLIER 100K)		(2,300,000	)		(825	)
KOSPI2 255 PUT 13JAN11 UBS (MULTIPLIER 100K)		2,300,000			840
KOSPI2 INX FUT MAR11 USD SWP CS		(2,500,000	)		(37,095	)
KOSPI2 INX FUT MAR11 USD SWP MS		(1,000,000	)		(17,286	)
KOSPI2 INX FUT MAR11 USD SWP UBS		(1,500,000	)		(25,793	)
KSS Jan11 50 CALL		(201	)		(27,500	)
KSS Jan11 52.5 CALL		(43	)		(22,152	)
LANXESS DFT 228 20JUN2014 BARC		100,000			(6,930	)
LANXESS DFT 235 20JUN14 BOA		100,000			(7,246	)
LANXESS DFT 250 20JUN2014 BOA		100,000			(7,922	)
LAS VEGAS SANDS CORP 10% SER U PFD SWP DB		9,217			5,262,622
LAS VEGAS SANDS CORP SWP DB		(153,637	)		(1,765,325	)
LBTYA.N 2013 JAN 17.5 PUT		141			7,050
LBTYA.N 2013 JAN 35 CALL		(71	)		(44,020	)
LDK SOLAR CO LTD — ADR SWP MS		(1,191	)		(72	)
LEIGHTON EUR SWP CS		(1,497	)		1,840
LEIGHTON SWP DB EUR		(2,848	)		4,470
LEN DFT 500 12/20/2013 BOA		500,000			(33,497	)
LG PHILIPS LCD CO LTD DB USD SWP		(7,884	)		(9,291	)
LIBERTY DFT 500 06/20/2013 BAR		750,000			(69,920	)
LIBERTY DFT 500 09/20/2016 RBS		500,000			(55,484	)
LIC HOUSING FINANC JAN11 USD STK FUT SWP CS (X250)		(20,000	)		(4,463	)
LIFE 2011 MAY 50 CALL 05/21/2011		11			8,360
LIGAND PHARM 46.917 WAR 04/19/2012		135			1
LINCARE SWP CSFB		(565	)		(2,913	)
LLOYDS BANKING GROUP PLC SWP BARC		(204,946	)		9,487
LME COPPER 3MO ($) APR 2011 SWP MS		(1	)		(9,350	)
LNCR 2012 JAN 15 PUT		64			1,760
LNCR 2012 JAN 16.67 PUT		4			285
LNCR 2012 JAN 32.5 CALL		(32	)		(4,080	)
LOGICA PLC SWP CS		(15,014	)		(759	)
LOJAS AMERICANAS SA-PREF		767,931			384,618
MACARTHUR COAL LTD AUD SWP CS		(600	)		(840	)
MACARTHUR COAL LTD AUD SWP MS		(4,089	)		(3,431	)
MAS DFT 540 03/20/2014 DB		500,000			(55,734	)
MAZDA MOTOR CORP JPM JPY SWP		(121,000	)		(30,372	)
MCLEOD RUSSEL INDIA LTD USD ML SWP		4,400			(2,869	)
MDAX INDEX UBS SWP		(6	)		(5,646	)
MDT 1.5% 04/11 144A SWP DB		200,000			0
MDT DFT 44 06/20/2013 DB		2,500,000			(10,835	)
MEDIATEK INC 2454.TT		(101,102	)		62,319
MEGGITT PLC SWAP CS		103,255			88,907
MELROSE DFT 100 20SEP14 BOA (162)		88,000			(332	)
MELROSE DFT 100 20SEPT14 (155)		64,000			(241	)
MELROSE PLC DFT 125 20JUN14 BOA		88,000			(1,378	)
MELROSE PLC DFT 130 20JUN14 MS		94,000			(1,683	)
MERRILL LYNCH 3PXA BASKET SWP ML		(114	)		(19,918	)
MET Mar11 38 PUT		(76	)		(2,288	)
MITSUBISHI CHEMICAL HLDG 21OCT11 ASW		60,000,000			7
ML CECEEUR CUSTOM INDEX SWP ML		(356	)		(33,180	)
ML RPXT INDEX SWP ML		(473	)		(6,060	)
ML STXE 600 TRAVEL/LEISURE BASKET SWP ML		(360	)		27
MLEIREXD BASKET SWP ML		(258	)		(75,509	)
MMM Jan11 85 PUT		(113	)		(1,720	)
MMR Jan11 15 CALL		(273	)		(21,060	)
MMR Jan11 17.50 CALL		(118	)		(20,567	)
MMR Jan11 19 CALL		(118	)		(19,500	)
MORRISON SUPERMARKETS CS SWP GBP		59,439			(14,690	)
MSCI DAILY TR GROSS EM CZECH REP USD SWP MS		(185	)		1,671
MSCI DAILY TR NET EMERGING MARKETS INDO USD SWP CS		(87	)		(5,693	)
MSCI SING IX ETS JAN11		(6	)		(5,465	)
MSCI SINGAPORE MID CAP SGD SWP MS		(213	)		(8,887	)
MSCI TAIWAN INDEX JAN11		(7	)		(2,940	)
MSCI TR GROSS EMERGING MKTS INDEX INF DB USD SWP		(129	)		3,388
MSCI TR GROSS EMRG MKTS INDX 06JAN11 MS USD SWP		(104	)		4,692
MSFT 2013 JAN 32.5 CALL 01/19/2013		34			8,296
MSFT Apr11 28 PUT		(162	)		(1,339	)
MSTAR SEMICONDUCTOR INC USD SWP MS		36,000			(54,276	)
MUR 2011 JAN 75 CALL		18			2,835
MVELAPHANDA RESOURCES DB SWAP 1		27,592			108,854
MVELAPHANDA RESOURCES SWP ML		16,201			(3,623	)
MVELAPHANDA RESOURCES UBS CFD SWAP		4,828			18,786


Identity of issue, borrower, lessor, or similar party including Maturity Date, Rate of	Shares/ Par
Interest, Collateral, Par, or Maturity Value	Value			Current Value
MYL 2011 JAN 15 PUT		879			2,637
MYL 2011 JAN 17.5 PUT		75			263
MYLAN LABS INC SWP DB		6,269			17,865
NAGOYA ASW 40 30MAR12 BAR		30,000,000			1,478
NDBB 3M 22MAY2011 K=3.60 NOM		21,100,000			33,361
NEW ZEALAND DOLLAR Forward		(150,000	)		(3,288	)
NEWCREST MINING 47.915 CALL 23SEP11 UBS		15,240			23,599
NEWCREST MINING 49.5523 CALL 20SEP11 MS		12,300			17,424
NEXT PLC CSFB SWP		806			(1,105	)
NEXT PLC SWP MS		(3,934	)		(927	)
NFG 2011 JAN 65 CALL 01/22/2011		9			1,553
NHN CORP		5,048			181,883
NIFTY 5300 PUT 27JAN11 MS		(2,800	)		(134	)
NIFTY 5800 PUT 27JAN10 MS		2,800			1,076
NIKKEI 225 (SGX) MAR11		(18	)		12,306
NIPPON YUSEN DFT 61 20OCT11 DB		10,000,000			(632	)
NISSAN MTR 749.70 CALL 04JAN11 CS		(49,300	)		(16,108	)
NKY 2011 FEB 10750 CALL 02/10/2011		11			6,271
NKY 2011 JAN 10000 PUT 01/14/2011		5			2,240
NKY 2011 JAN 10500 CALL 01/14/2011		15			3,861
NKY 2011 JAN 9250 PUT 01/14/2011		(3	)		(50	)
NLY 4 02/15/2015 SWP DB		787,000			143,770
NLY 6% PFD DB SWP		4,511			75,067
NLY P7.5 2012 JAN 7.5 PUT		378			6,426
NOBLE DFT 13JUL11 MS		200,000			(3,586	)
NOBLE GROUP DFT 13JUL11		100,000			(2,718	)
NORTHAM PLATINUM LTD SWP DB		(10,608	)		9,819
NOVARTIS AG-ADR SWP DB		(12,778	)		(36,240	)
NWL 5.25 PFD 12/01/27 SWP DB		5,189			63,695
NWL DFT 275 06/20/2014 BAC		500,000			(33,669	)
OBX INDEX ML SWP		(382	)		(47	)
OCD001077 FVA USD 1Y2Y MYC		(1,500,000	)		(25,177	)
OCR DFT 100 12/20/2015 DB		500,000			33,522
OCR DFT 500 12/20/2015 BARC		500,000			(56,982	)
OCR DFT 500 12/20/2015 BARC 2		500,000			(56,982	)
ORIX ASW L+225 31MAR14 DB		20,000,000			81,527
ORIX DFT 100 30APR14 ML		60,000,000			4,977
OSK Apr11 33 PUT		(74	)		(1,035	)
OTP BANK SWP ML		29,598			(99,078	)
OZ MINERALS LTD AUD SWP CS		(44,200	)		(1,902	)
PAUL Y. ENGINEERING CORP SES UBS2		500,523			(1,288	)
PAY 1.7025% FIXED REC LIBOR 3M 16SEPT2015 CSFB		600,000			7,029
PAY 1.705% FIXED REC LIBOR 3M 16SEPT2015 ML		600,000			6,956
PERSEUS MINING SWP UBS		47,860			55,174
PERSIMMON CFD UBS		25,196			22,638
PHH DFT 500 09/20/2014 JPM		500,000			10,809
PHH DFT 500 09/20/2014 JPM		500,000			10,809
PING AN INSURANCE A SWP USD MS		61,833			(9,218	)
PING AN INSURANCE GRP-A USD SWP DB		147,100			171,363
PING AN INSURANCE GRP-A USD SWP UBS		118,000			214,745
PING AN INSURANCE HKD SWP CS		(6,000	)		1,807
PING AN INSURANCE SWP USD ML		19,000			34,999
PKD DFT 500 09/20/2012 JPM		500,000			(30,092	)
PLD 2.25 37 L+43 ASW		250,000			0
PLD 2.625 5/15/2038 CBS DB 1		28,000			18,836
PLD DFT 275 06/20/2013 ML		500,000			(24,942	)
POT 2011 JAN 145 CALL 01/22/2011		35			38,588
PRETORIA PORTLAND CEMENT SWP CS		(24,630	)		(23,615	)
PROLOGIS TRUST SWP CS USD		(7,863	)		(21,647	)
PROMOTORA DE INFOM SA -PRISA SWP CSFB		(8,031	)		2,278
PROMOTORA DE INFORMACIONES-A WRT SWP CS		(8,834	)		(3,203	)
PUNCH TAVERNS PLC		87,983			6,935
PUNCH TAVERNS PLC		60,120			6,235
PXD 2012 JAN 70 CALL		(104	)		(223,080	)
PXD DFT 100 03/20/2013 BARC		500,000			(1,812	)
PXD DFT 100 03/20/2013 RBS		500,000			(1,812	)
PXP Jan11 28 CALL		(658	)		(16,224	)
PXP Jan11 29 CALL		(468	)		(11,868	)
PXP Jan11 30 CALL		(503	)		(10,560	)
PXP Jan11 31 CALL		(96	)		(9,675	)
QBE DFT 100 20JUN13 JPM2		1,000,000			2,088
RAIA SA		7,740			175
RAKUTEN INC		(717	)		(25,516	)
RASER TECHNOLOGIES INC SWP ML		—			(0	)
REC 1.6775% SGD FLT 6M 16SEPT2015 CSFB		800,000			(4,766	)
REC 1.68% SGD FLT 6M 16SEPT2015 ML		800,000			(4,641	)
REC 4.015% PAY 3M NZD BBR 27AUG2012 CSFB		4,100,000			3,887
REED ELSEVIER PLC SWP CSFB		30,213			5,986
REED ELSEVIER PLC SWP EUR CSFB		8,025			1,343
REED ELSEVIER PLC SWP MS		25,281			1,325
REED ELSEVIER PLC SWP USD CSFB		5,264			(1,072	)


Identity of issue, borrower, lessor, or similar party including Maturity Date, Rate of	Shares/ Par
Interest, Collateral, Par, or Maturity Value	Value			Current Value
REED ELSEVIER PLC SWP USD MS		61,148			6,786
REED ELSEVIER PLS SWP MS EUR		21,379			(4,216	)
RESMED INC — CDI		(45,380	)		13,352
RESMED INC — CDI		(69,955	)		(3,093	)
RESONA HOLDINGS INC SWP CSFB		(47,700	)		14,932
RESONA HOLDINGS INC SWP DB		(117,715	)		179,405
RESONA HOLDINGS JPY SWP JPM		(47,900	)		(10,759	)
RESONA HOLDINGS JPY SWP MS		(5,800	)		1,503
RESONA HOLDINGS JPY SWP UBS		(18,800	)		5,571
REXAM PLC SWP CS		12,149			4,400
RHA FP DFT 500 03/20/2016 UBS		839,000			(125,448	)
RIG DFT 100 12/20/2012 BARC		3,000,000			(10,388	)
RIG DFT 12/20/2012 JPM		1,500,000			5,249
RIG Jan11 57.5 PUT		(304	)		(628	)
RIG Jan11 60 PUT		(193	)		(528	)
RIGHTMOVE PLC		29,999			135,746
RIO LN 2011 JUN 40.00 PUT 06/17/2011		8			30,749
RIO TINTO LDN AUD SWP JPM		3,410			28,821
RIO TINTO LIMITED AUD SWP UBS		(5,800	)		(72,530	)
RIO TINTO LIMITED SWP JPM		(2,710	)		(27,498	)
RIO TINTO PLC AUD SWP UBS		7,230			69,486
RIO TINTO PLC SWP CSFB GBP		3,603			4,056
ROCKHOPPER EXPLORATION PLC SWP CS		2,320			1,987
ROYAL BANK OF SCOT SWAP		1,402,072			(14,174	)
ROYAL BANK OF SCOTLAND CS SWP GBP		916,659			(12,896	)
ROYAL BANK OF SCOTLAND GROUP SWP BARC		(1,211,646	)		22,645
ROYAL DUTCH SHELL PLC-B SHS SWP EUR CS		(4,698	)		(7,010	)
RSH DFT 216 09/20/2013 DB		500,000			(15,806	)
RSH DFT 222 09/20/2013 CS		500,000			(16,615	)
RSH DFT 245 09/20/2013 BOA		500,000			(19,716	)
RTS INDEX FUTURE MAR 11 FRS SWP CSFB		159			7,558
RTS INDEX FUTURE MAR 11 FRS SWP CSFB		(80	)		(9,291	)
RUSSELL 2000 MINI MAR11		(3	)		(3,225	)
RUSSIA EX OIL UBS CFD		(224	)		(23,519	)
RUSSIAN DEPOSITARY (USD) MS SWP		552			8,804
RUSSIAN DEPOSITARY (USD) MS SWP		(17	)		(3,474	)
RYANAIR HOLDINGS PLC		239,195			154,773
RYANAIR HOLDINGS PLC		7,200			274
S&P MID 400 EMINI MAR11		(8	)		(5,201	)
S&P 500 EMINI FUT MAR11		(317	)		(191,848	)
SAINSBURYS JPM SWAP		22,220			346
SAINSBURYS SWP CS		26,624			(3,864	)
SAMSUNG ELECTRONICS USD SWP CS		10			1,324
SAN FP 2011 FEB 44 PUT 02/18/2011		92			5,044
SAN FP 2011 FEB 47 PUT 02/18/2011		77			11,739
SBAC 2011 JAN 12.5 PUT		248			1,240
SBERBANK SWP UBS		524,879			(35,315	)
SEM GROUP LITIGATION TRUST		1			—
SGX S&P CNX NIFTY JAN11		(13	)		(2,795	)
SHANGHAI ZHENHUA HEAVY IND-A USD SWP MS		130,400			(12,849	)
SILICONWARE PRECISION IND SWP USD ML		(113,870	)		(16,297	)
SILICONWARE PRECISION ML USD SWP		(39,980	)		(1,728	)
SILICONWARE PRECISION USD SES UBS		(7,895	)		(1,778	)
SINA 2011 JAN 25 CALL		(47	)		(207,505	)
SINA CS SWP USD		(161	)		(4,466	)
SINA.N 2011 JAN 20 PUT		60			150
SINGAPORE DOLLAR Forward		2,000,000			4,846
SINGAPORE DOLLAR Forward		(7,000,000	)		(102,351	)
SINOCHEM HK HLDGS 07AUG11 113.41 475 DB		1,720,000			17,393
SINOPEC 70 ASW 24APR11 ML		500,000			2,258
SK TELECOM ADR SWP MS		3,386			6,365
SK TELECOM USD SWP ML		(613	)		(3,075	)
SKS / USD FORWARD, 01-03-11		(681,510	)		(2,476	)
SKS / USD FORWARD, 01-04-11		(585,288	)		(1,226	)
SKS / USD FORWARD, 01-05-11		(475,688	)		(510	)
SL TELECOM ADR SWP CS		1,861			4,361
SLE 2011 JAN 17.5 CALL 01/22/2011		21			998
SLM Jan11 12.50 CALL		(426	)		(8,850	)
SNDK 2012 JAN 15 PUT		250			6,125
SOCO INTERNATIONAL PLC SWP CSFB		67,563			48,178
SOLARFUN SWP MS		(5,028	)		754
SoldAUD/BoughtUSD		—			(214,457.98	)
SoldCAD/BoughtUSD		—			(9,185.41	)
SoldCNY/BoughtUSD		—			(32,303.07	)
SoldEUR/BoughtUSD		—			472,925.16
SoldGBP/BoughtUSD		—			120,013.64
SoldJPY/BoughtUSD		—			(91,113.98	)
SoldKRW/BoughtUSD		—			(14,165.91	)
SoldSEK/BoughtUSD		—			14.27
SOUTH AFRICAN RAND Forward		(2,000,000	)		(2,161	)
SOUTH INDIAN BANK USD MS SWP		63,500			(6,825	)


Identity of issue, borrower, lessor, or similar party including Maturity Date, Rate of	Shares/ Par
Interest, Collateral, Par, or Maturity Value	Value			Current Value
SOUTHERN CROSS MEDIA GROUP AUD SWP JPM2		109,660			(5,086	)
SOUTHERN CROSS MEDIA GROUP AUD SWP UBS		20,376			8,676
SOUTHERN CROSS MEDIA GROUP SWP DB		94,560			97,260
SOUTHERN CROSS MEDIA GROUP SWP JPM		452,456			36,371
SPI 200 FUTURES MAR11		(23	)		19,428
SPWR CS SWP USD		(20,798	)		368,009
SPWRA 2011 JAN 10 PUT		138			690
SPWRA 2012 JAN 5 PUT		58			1,914
SPX 2011 FEB 1180 PUT 02/19/2011		67			72,360
SPX Dec11 1425 CALL		(62	)		(269,115	)
SPX Dec11 1450 CALL		(54	)		(170,190	)
SPX Dec11 800 PUT		(20	)		(264,495	)
SPX Dec11 825 PUT		(20	)		(141,360	)
SPX Dec11 850 PUT		(76	)		(140,885	)
SPX Feb11 1000 PUT		(15	)		(52,520	)
SPX Feb11 1025 PUT		(15	)		(30,600	)
SPX Feb11 1050 PUT		(141	)		(28,200	)
SPX Feb11 1075 PUT		(75	)		(27,400	)
SPX Feb11 1325 CALL		(152	)		(116,100	)
SPX Jan11 1050 PUT		(37	)		(21,000	)
SPX Jan11 975 PUT		(19	)		(1,875	)
SPX Jun11 1400 CALL		(231	)		(95,305	)
SPX Jun11 975 PUT		(231	)		(1,650	)
SPX Mar11 1050 PUT		(101	)		(1,295	)
SPX Mar11 1300 CALL		(49	)		(93,600	)
SPX Sep11 1400 CALL		(39	)		(83,600	)
SPX Sep11 1450 CALL		(56	)		(76,440	)
SPX Sep11 900 PUT		(95	)		(190	)
SPY 2011 JAN 125 CALL 01/22/2011		39			9,614
STANDARD CHARTERED HK SWP CSFB		(4,631	)		6,770
STANDARD CHARTERED PLC USD SWAP CS		51,422			(4,995	)
STANLEY BLACK & DECKER INC SWP CITI		(2,700	)		783
STATE BANK INDIA JAN11 USD STK FUT SWP DB (X 125)		(2,625	)		(6,344	)
STM DFT 195 20MAR2014 DB		100,000			(6,549	)
SUNING APPLIANCE CO LTD-A USD SWP ML		33,000			(5,707	)
SWEDISH KRONER Forward		7,500,000			7,440
SWEDISH KRONER Forward		(42,000,000	)		(137,716	)
SWISS FRANC Forward		7,000,000			28,747
SWISS FRANC Forward		(21,200,000	)		(752,759	)
SWK 2011 APR 65 CALL 04/16/2011		34			15,810
SWK DFT 170 12/20/2013 BARC		500,000			(18,625	)
SWPC005H5 CDS USD P V 03MEVENT		(800,000	)		—
SWPC005H5 CDS USD R F 1.00000		800,000			5,432
SWPC012F0 CDS USD P V 03MEVENT		(500,000	)		—
SWPC012F0 CDS USD R F 1.00000		500,000			3,246
SWPC049H3 CDS USD P V 03MEVENT		(600,000	)		—
SWPC049H3 CDS USD R F 1.00000		600,000			5,200
SWPC108F5 CDS USD P F 5.00000		(400,000	)		—
SWPC108F5 CDS USD R V 03MEVENT		400,000			(19,495	)
SWPC14FW2 CDS USD P V 03MEVENT		(500,000	)		—
SWPC14FW2 CDS USD R F 2.93000		500,000			(1,138	)
SWPC193C8 CDS USD P F 1.74250		(100,000	)		—
SWPC193C8 CDS USD R V 03MEVENT		100,000			(2,724	)
SWPC198C3 CDS USD P F 1.78000		(100,000	)		—
SWPC198C3 CDS USD R V 03MEVENT		100,000			(2,818	)
SWPC207H1 CDS USD P V 03MEVENT		(500,000	)		—
SWPC207H1 CDS USD R F 1.00000		500,000			1,761
SWPC225C0 CDS USD P F 1.82000		(54,000	)		—
SWPC225C0 CDS USD R V 03MEVENT		54,000			(1,575	)
SWPC248H2 CDS USD P V 03MEVENT		(600,000	)		—
SWPC248H2 CDS USD R F 1.00000		600,000			2,637
SWPC297H2 CDS USD P V 03MEVENT		(500,000	)		—
SWPC297H2 CDS USD R F 1.00000		500,000			2,579
SWPC356K3 CDS USD P V 03MEVENT		(500,000	)		—
SWPC356K3 CDS USD R F 2.10000		500,000			(1,736	)
SWPC446J8 CDS USD P V 03MEVENT		(100,000	)		—
SWPC446J8 CDS USD R F 1.00000		100,000			28
SWPC447J7 CDS USD P V 03MEVENT		(200,000	)		—
SWPC447J7 CDS USD R F 1.00000		200,000			105
SWPC452J9 CDS USD P V 03MEVENT		(500,000	)		—
SWPC452J9 CDS USD R F 1.00000		500,000			(112	)
SWPC455J6 CDS USD P V 03MEVENT		(800,000	)		—
SWPC455J6 CDS USD R F 1.00000		800,000			(721	)
SWPC471J6 CDS USD P V 03MEVENT		(400,000	)		—
SWPC471J6 CDS USD R F 1.00000		400,000			(233	)
SWPC536C4 CDS USD P F .94000		(363,000	)		—
SWPC536C4 CDS USD R V 03MEVENT		363,000			27,276
SWPC558J2 CDS USD P V 03MEVENT		(900,000	)		—
SWPC558J2 CDS USD R F .25000		900,000			(10,069	)
SWPC586B5 CDS USD P F 3.75000		(1,000,000	)		—
SWPC586B5 CDS USD R V 03MEVENT		1,000,000			(85,473	)


Identity of issue, borrower, lessor, or similar party including Maturity Date, Rate of	Shares/ Par
Interest, Collateral, Par, or Maturity Value	Value			Current Value
SWPC617J1 CDS USD P V 03MEVENT		(600,000	)		—
SWPC617J1 CDS USD R F .25000		600,000			(7,656	)
SWPC619J9 CDS USD P V 03MEVENT		(600,000	)		—
SWPC619J9 CDS USD R F .25000		600,000			(7,948	)
SWPC642E1 CDS EUR P F 1.00000		(400,000	)		58,440
SWPC642E1 CDS EUR R V 03MEVENT		400,000			(86,373	)
SWPC644C3 CDS USD P F 1.00000		(362,000	)		—
SWPC644C3 CDS USD R V 03MEVENT		362,000			12,753
SWPC645B4 CDS USD P F 3.50000		(500,000	)		—
SWPC645B4 CDS USD R V 03MEVENT		500,000			(28,419	)
SWPC674J1 CDS USD P V 03MEVENT		(500,000	)		—
SWPC674J1 CDS USD R F 1.00000		500,000			(4,465	)
SWPC690C6 CDS USD P F .61000		(725,000	)		—
SWPC690C6 CDS USD R V 03MEVENT		725,000			7,773
SWPC702J7 CDS USD P V 03MEVENT		(1,000,000	)		—
SWPC702J7 CDS USD R F .25000		1,000,000			(16,814	)
SWPC727J8 CDS USD P V 03MEVENT		(100,000	)		—
SWPC727J8 CDS USD R F 5.00000		100,000			4,028
SWPC745B3 CDS USD P F 3.80000		(500,000	)		—
SWPC745B3 CDS USD R V 03MLIBOR		500,000			(44,247	)
SWPC754C9 CDS USD P F .60500		(363,000	)		—
SWPC754C9 CDS USD R V 03MEVENT		363,000			(17,550	)
SWPC786C1 CDS USD P F .51000		(254,000	)		—
SWPC786C1 CDS USD R V 03MEVENT		254,000			(866	)
SWPC832J0 CDS USD P V 03MEVENT		(600,000	)		—
SWPC832J0 CDS USD R F 1.00000		600,000			(3,949	)
SWPC834J8 CDS USD P V 03MEVENT		(300,000	)		—
SWPC834J8 CDS USD R F 1.00000		300,000			(2,466	)
SWPC962J2 CDS USD P V 03MEVENT		(200,000	)		—
SWPC962J2 CDS USD R F 1.00000		200,000			5,081
SWPC967F5 CDS USD P F 1.00000		(100,000	)		—
SWPC967F5 CDS USD R V 00MEVENT		100,000			850
SWPC993J5 CDS USD P V 03MEVENT		(400,000	)		—
SWPC993J5 CDS USD R F 1.00000		400,000			8,076
SWU0054Q5 IRS USD P V 03MLIBOR		(2,100,000	)		—
SWU0054Q5 IRS USD R F 4.00000		2,100,000			(63,435	)
SWU0071Q4 IRS USD P V 03MLIBOR		(1,700,000	)		—
SWU0071Q4 IRS USD R F 4.00000		1,700,000			(41,518	)
SWU0107Q2 IRS GBP P V 06MLIBOR		(1,000,000	)		49,498
SWU0107Q2 IRS GBP R F 2.00000		1,000,000			(49,593	)
SWU0108Q1 IRS GBP P V 06MLIBOR		(1,000,000	)		41,198
SWU0108Q1 IRS GBP R F 2.00000		1,000,000			(41,065	)
SWU0117Q0 IRS GBP P V 06MLIBOR		(400,000	)		10,180
SWU0117Q0 IRS GBP R F 2.00000		400,000			(10,302	)
SWU0123L3 IRS CAD P V 03MCDOR		(1,300,000	)		(132,050	)
SWU0123L3 IRS CAD R F 5.80000		1,300,000			170,811
SWU0257Q0 IRS JPY P V 06MLIBOR		(190,000,000	)		(51,254	)
SWU0257Q0 IRS JPY R F 1.50000		190,000,000			73,199
SWU0269Q6 IRS JPY P V 06MLIBOR		(50,000,000	)		(11,561	)
SWU0269Q6 IRS JPY R F 1.50000		50,000,000			17,701
SWU026JC6 IRS BRL P V 12MLIBOR		(5,300,000	)		(171,020	)
SWU026JC6 IRS BRL R F 11.29000		5,300,000			155,528
SWU067899 IRS BRL P V 01MBRDCI		(700,000	)		(14,094	)
SWU067899 IRS BRL R F 11.24500		700,000			11,753
SWU0767N0 IRS JPY P V 06MLIBOR		(20,000,000	)		(33,964	)
SWU0767N0 IRS JPY R F 2.15000		20,000,000			48,589
SWU088AA9 IRS BRL P V 01MBRDCI		(1,200,000	)		(24,161	)
SWU088AA9 IRS BRL R F 11.25000		1,200,000			20,192
SWU093838 IRS BRL P V 00MBRCDI		(2,100,000	)		(59,065	)
SWU093838 IRS BRL R F 11.36000		2,100,000			59,788
SX5E 2011 MAR 2400 PUT 03/18/2011		(67	)		(22,669	)
SX5E 2011 MAR 2700 PUT 03/18/2011		67			74,815
SYMC 2011 APR 15 CALL		171			38,646
TABCORP HLDG AUD SWP CS		109,930			(9,206	)
TAIWANESE DOLLAR Forward		12,128,000			11,832
TAIWANESE DOLLAR Forward		(12,128,000	)		(17,858	)
TAMSCI 323 CALL 28JAN11 DB		72,000			9,109
TATA MOTORS 1% DFT 27MAY11		250,000			(1,061	)
TATA MOTORS DFT 100 20AUG12 CS		500,000			(556	)
TATTS GROUP LTD AUD SWP MS		(17,812	)		(1,484	)
TAYLOR WIMPEY PLC WTS 30APR2014		5,689			1,401
TAYLOR WIMPEY UBS CFD SWP		(4,398	)		234
TECHNICOLOR — REGR SWP BARC		(22,765	)		18,024
TECHNICOLOR — REGR SWP JPM		(22,105	)		17,891
TECHNICOLOR — REGR SWP ML		(6,789	)		4,610
TECHNICOLOR — REGR UBS SWAP		(26,139	)		24,808
TECHNICOLOR SWP CS		(23,381	)		19,620
TECHNICOLOR SWP DB		(9,957	)		11,078
TECHNICOLOR SWP MS		(4,505	)		1,815
TECNICAS REUNIDAS SA CS SWAP		3,643			24,472
TESCO SWP MS		50,990			19,633


Identity of issue, borrower, lessor, or similar party including Maturity Date, Rate of	Shares/ Par
Interest, Collateral, Par, or Maturity Value	Value			Current Value
TEVA 2011 JAN 50 CALL		174			44,631
THOMAS COOK SWP CS		(3,740	)		(395	)
TMO 2011 MAR 40 PUT		56			1,400
TOBU RAILWAY CO LTD		(63,136	)		12,826
TOPPAN PRINT DFT 12JULY11 DB		60,000,000			(77	)
TRAVIS PERKINS MS SWP		3,084			7,627
TRAVIS PERKINS PLC SWP UBS		3,255			7,816
TRAVIS PERKINS SWP CSFB		(6,340	)		(14,297	)
TRV Jan11 55 CALL		(220	)		(6,100	)
TSN 2012 JAN 15 PUT		(143	)		(20,735	)
TSN DFT 100 12/20/2013 (191) CS		500,000			3,000
TSN DFT 100 12/20/2013 BARC		500,000			3,000
TUI TRAVEL PLC SWP		(2,929	)		(455	)
TXT 2012 JAN 15 CALL		(110	)		(99,000	)
TXT DFT 100 06/20/2013 BAC		750,000			(5,007	)
UDR DFT 03/20/2011		100,000			(100	)
UDR DFT 03/20/2011		250,000			(436	)
UDR DFT 110 03/20/2011 CS		100,000			(259	)
UFS Apr11 80 CALL		(304	)		(3,540	)
UFS Jan11 75 CALL		(115	)		(3,115	)
UMC/UNIMICRON ASW 02DEC11 CS		100,000			31,170
UNILEVER SWP CS		(9,361	)		(9,062	)
UNIMICRON TECHNOLOGY USD SWP CS		(43,000	)		(7,958	)
UNIMICRON TECHNOLOGY USD SWP UBS		(151,000	)		(26,031	)
UNITED BANK OF INDIA USD SWP DB		46,000			(11,956	)
UNITED BANK OF INDIA USD SWP MS		29,780			(19,301	)
UNITED BANK OF INDIA USD SWP UBS		39,600			(33,300	)
US 10YR NOTE FUT MAR11		(3	)		10,250
US 5YR NOTE (CBT) MAR11		(26	)		47,129
US DOLLAR Forward		148,487,280			—
US LONG BOND (CBT) MAR11		(50	)		196,875
USD CALL / JPY PUT K=120 19OCT20 NOM		1,500,000			34,880
USD CALL / JPY PUT K=120.00 02JUL20 NOM		4,000,000			91,137
USD CALL / JPY PUT K=120.00 16OCT20 NOM		1,500,000			34,833
USD CALL / JPY PUT K=120.00 02JUN20 UBS		4,000,000			89,574
USD CALL / JPY PUT K=120.00 04JUN20 ML		2,000,000			46,000
USD CALL / JPY PUT K=120.00 04JUN20 UBS		2,000,000			44,784
USD CALL / JPY PUT K=122.00 11JUN20 JPM		4,000,000			94,618
USD CALL / JPY PUT K=122.00 29JUN20 ML		4,000,000			87,200
USD CALL /JPY PUT 2013 MAR K=120 NOM		2,327,000			12,050
USD CALL/JPY PUT 2012 MAR K=115 NOM		2,327,000			4,573
USD CALL/JPY PUT 2012 OCT K=117.5 UBS		2,300,000			8,005
USD PUT / CNY CALL 6.49 14APR11 UBS		1,900,000			11,341
USD PUT / HKD CALL 7.7430 19OCT11 CS		3,000,000			7,907
USD PUT / HKD CALL K=7.6830 13NOV12 JPM		1,800,000			13,597
USD PUT / HKD CALL K=7.6840 13NOV12 NOM		5,300,000			42,437
USD PUT / HKD CALL K=7.7375 26OCT11 HSBC		3,000,000			7,622
USD PUT / HKD CALL K=7.7405 26OCT11 NOM		3,000,000			7,694
USD PUT / HKD CALL K=7.7410 26OCT11 UBS		1,000,000			2,503
USD PUT / HKD CALL K=7.7420 19OCT11 JPM		2,500,000			5,742
USD PUT / HKD CALL K=7.7420 19OCT11 UBS		3,000,000			7,366
USD PUT/ CNY CALL K= 6.39CNY 14APR11 UBS		(1,900,000	)		(4,525	)
USD PUT/ CNY CALL K=6.4050CNY 15APR11 NOM		(1,900,000	)		(4,893	)
USD PUT/ CNY CALL K=6.5050 PUT 15APR11 NOM		1,900,000			11,124
USD PUT/ HKD CALL K=7.6760 14NOV12 JPM		5,400,000			40,392
VALEBZ DFT 100 03/20/2015 DB		500,000			4,015
VEDANTA RESOURCES DFT 500 20SEP2014 BOA		2,100,000			32,570
VEDANTA RESOURCES PLC SWP ML USD		(61,641	)		(251,618	)
VINCI S.A. DB SWP EUR		3,157			8,987
VLOF DFT 100 03/20/2011 BOA 2		800,000			(2,491	)
VNO DFT 20JUN12		500,000			(3,157	)
VODAFONE GROUP PLC		404,279			82,704
VODAFONE GROUP PLC		261,491			37,441
VORNADO 3.875% 04/15/25 SWP CS		502,000			150,939
VORNADO 3.875% 04/15/25 SWP DB		57,000			3,127
VORNADO REALTY CS SWP		(3,576	)		(10,254	)
VORNADO REALTY DB SWP		(61	)		(991	)
WANT WANT CHINA HLDGS HKD SWP CS		(48,000	)		(3,741	)
WELLSTREAM HOLDINGS PLC SWP BARC		33,278			8,746
WELLSTREAM HOLDINGS PLC SWP CS		4,389			3,077
WELLSTREAM HOLDINGS PLC SWP MS		643			555
WEMBLEY PLC DB SWAP		20,188			2,289
WESTFIELD GROUP AUD SWP CS		96,620			5,923
WESTFIELD GROUP AUD SWP DB		77,200			(9,757	)
WESTFIELD GROUP AUD SWP JPM		10,368			2,371
WESTFIELD GROUP AUD SWP ML		55,831			(493	)
WESTFIELD RETAIL TRUST AUD SWP CS		41,100			(2,745	)
WESTFIELD RETAIL TRUST AUD SWP DB		80,240			(3,474	)
WESTFIELD RETAIL TRUST AUD SWP UBS		95,561			(908	)
WESTFIELD RETAIL TRUST SWP JPM		10,368			(241	)
WESTFIELD RETAIL TRUST SWP ML		55,831			(4,994	)


Identity of issue, borrower, lessor, or similar party including Maturity Date, Rate of	Shares/ Par
Interest, Collateral, Par, or Maturity Value	Value			Current Value
WESTPAC BANKING CORP		(14,653	)		4,829
WIPRO LTD ADR SWP CSFB		31,084			54,415
WIPRO LTD MS SWP USD		2,744			2,498
WIPRO LTD USD SWP DB		5,090			5,415
WIPRO LTD USD SWP ML		25,999			42,267
WM MORRISON SUPERMARKETS UBS SWAP		66,292			(23,443	)
WMI DFT 105 03/20/2014 MS		500,000			(6,318	)
WOOLWORTHS LIMITED AUD SWP CS		(7,931	)		(6,302	)
WOOLWORTHS LIMITED AUD SWP ML		(7,290	)		(2,686	)
WTI CRUDE FUTURE FEB11		(3	)		(9,389	)
XOM Jan11 55 PUT		(174	)		(111	)
XOM Jan11 57.50 PUT		(111	)		(54	)
XOM Jan11 60 CALL		(8	)		(1,280	)
XOM JAN11 60 PUT		(345	)		(174	)
YEN / USD FORWARD, 01-05-11		84,900			1


Total Derivatives		(1,084,208,292	)		(420,318	)


Preferred Stock
ADLAC 5.5% SERIES D ESC		3,100			—
ADLAC 7.5% 05 F ESCROW		182,700			0
ADLAC 7.5% 11/04 ESCROW		9,200			0
ADM 6.25 PFD 6/01/11		(8,500	)		(331,534	)
ANGLOGOLD HOLDINGS LTD 6% PFD		(7,000	)		(387,926	)
APACHE CORP 6% PFD		(24,900	)		(1,647,078	)
CANWEST EQUITY EXP		2,919			38,107
CITIGROUP INC 0% PFD		7,990			971,224
CITIGROUP INC PFD 7.50 CONVERT		1,820			248,776
CNP 2% 09/15/29		43,656			1,409,652
DOLE FOOD AUTOMATIC EXCH 7% CNV PFD 144A		104,300			1,347,556
EMBOTELLADORA ANDINA A PREF		35,000			138,743
EMBOTELLADORA ANDINA PREF B		20,400			103,275
ENERGY XXI BERMUDA		2,600			823,503
HARTFORD FINL SVCS GRP 7.25 PFD		(12,700	)		(324,099	)
MAGIC HOLDINGS INTERNATIONAL		1,047			836
MDM BANK CLS		491,200			240,688
MMR 5.75% CONV. PREF		2,500			3,100,000
NLY 6% PFD		9,000			429,485
NWL 5.25 PFD 12/01/27		3,553			151,143
RETAIL VENTURES INC (DSW) 6.625 PFD		3,774			225,512
ROYAL BK SCOTLAND PFD 5.75		3,410			59,436
ROYAL BK SCOTLAND PFD 6.6		4,390			65,148
ROYAL BK SCOTLAND PFD 6.75		3,740			56,212
ROYAL BK SCOTLAND PFD 7.25 T		8,250			133,320
ROYAL BK SCOTLND PFD 7.65		80			1,737
SAMSUNG ELECTRONICS PFD		4,918			2,812,391
SLM CORP		900			16,650
STANLEY BLACK & DECKER 4.75% PFD		3,600			391,009
ULTRAPAR PARTICIPACOES PREF		26,030			1,648,044
VALE CAPITAL II 6.75 PFD		4,000			390,234
WINTRUST FINANCIAL CORP 7.5% PFD		10,766			585,267


Total Preferred Stock		941,743			12,697,311


Real Estate Investments
AMERICAN CAMPUS COMMUNITIES		16,800			533,568
ASSOCIATED ESTATES REALTY CP		29,125			445,321
DIAMONDROCK HOSPITALITY CO		5,400			64,800
DOUGLAS EMMETT INC		34,206			567,820
DYNEX CAPITAL INC		24,400			266,448
FIRST INDUSTRIAL REALTY TR		27,200			238,272
GLIMCHER REALTY TRUST		104,600			878,640
HOST HOTELS & RESORTS INC		(34,540	)		(617,230	)
MACERICH CO/THE		(12,891	)		(610,647	)
MFA FINANCIAL INC		101,500			828,240
PEBBLEBROOK HOTEL TRUST		18,400			373,888
PLUM CREEK TIMBER CO. REIT		(16,150	)		(604,818	)
POST PROPERTIES INC		10,683			387,793
PS BUSINESS PARKS INC/CA		8,200			456,904
SAUL CENTERS INC		14,000			662,900
U STORE IT TRUST		23,800			226,814
WINTHROP REALTY TRUST		37,700			482,183


Total Real Estate Investments		392,433			4,580,897


Asset-backed Securities

BROADWAY CREDIT CARD TRUST		508,000			519,508
BUMPER		114,745			154,305

Goldman Sachs 401(k) Plan
Schedule G, Part 1 - Schedule of Loans or Fixed Income Obligations in Default or Classified as Uncollectible
December 31, 2010


			Amount received during			Detailed description of loan including dates of making
	(b)	(c)	reporting year		(e)	and maturity, interest rate, the type and value of collateral,	Amount overdue
	Identity and	Original amount	(d)	(e)	Unpaid balance	any renegotiation of the loan and the terms of the	(h)	(i)
(a)	address of obligor	of loan (par value)	Principal	Interest	at year end	renegotiation and other material matters	Principal	Interest	Steps Taken or Will Be Taken to Collect Overdue Amounts

	Aero Inventory Plc, 30 Lancaster Rd, New Barnet, Hertfordshire EN4 8AP	2,296,809	—	—	2,296,809	Issue Date: 2/15/08, Maturity Date: 2/15/13, Collateral Type: SR SECURED, Int Rate: L+3.0%	—	27,532	We will continue to monitor all available information that comes to our attention regarding possible payment and collection of amounts due on the respective security
	Ahmad Hamad Algosaibi & Brothers Company, PO Box 707, Al-Khobar 31952, Kingdom of Saudi Arabia	25,100	—	—	25,100	Issue Date: 5/08/07, Maturity Date: 5/08/13, Collateral Type: SR SECURED, Int Rate: L+0.85%	—	76	We will continue to monitor all available information that comes to our attention regarding possible payment and collection of amounts due on the respective security
	Capmark Financial Group, Inc., 200 Witmer Road, Horsham, PA 19044	278,313	—	—	278,313	Issue Date: 3/23/06, Maturity Date: 6/30/11, Collateral Type: SR UNSECURED, Int Rate: P+0.95%	—	2,033	We will continue to monitor all available information that comes to our attention regarding possible payment and collection of amounts due on the respective security
	Capmark Financial Group, Inc., 200 Witmer Road, Horsham, PA 19044	7,898,661	—	979	7,898,661	Issue Date: 3/23/06, Maturity Date: 6/30/11, Collateral Type: SR UNSECURED, Int Rate: P+2.0%	—	57,698	We will continue to monitor all available information that comes to our attention regarding possible payment and collection of amounts due on the respective security
	Industrial Union of Donbass, 48 Schors Street, Donetsk 83050, Ukraine	25,411	—	—	25,411	Issue Date: 6/27/06, Maturity Date: 6/27/14, Collateral Type: SR. SECURED, Int Rate: L+2.45%	—	—	We will continue to monitor all available information that comes to our attention regarding possible payment and collection of amounts due on the respective security
	Industrial Union of Donbass, 48 Schors Street, Donetsk 83050, Ukraine	79,409	—	—	79,409	Issue Date: 6/27/06, Maturity Date: 6/27/14, Collateral Type: SR. SECURED, Int Rate: L+2.45%	—	—	We will continue to monitor all available information that comes to our attention regarding possible payment and collection of amounts due on the respective security
	Fairpoint Communications, Inc., 521 E. Morehead St, Suite 250, Charlotte, NC 28202	22,020	—	—	22,020	Issue Date: 3/31/08. Maturity Date: 3/31/15, Collateral Type: SR SECURED, Int Rate: P+1.75%	—	356	We will continue to monitor all available information that comes to our attention regarding possible payment and collection of amounts due on the respective security
	Local Insight Regatta Holdings, Inc.188 Inverness Drive West, Suite 800, Englewood, CO 80112	62,889	—	—	62,889	Issue Date: 4/23/08, Maturity Date: 4/23/15, Collateral Type: SR SECURED, Int Rate: P+4.0%	—	4,845	We will continue to monitor all available information that comes to our attention regarding possible payment and collection of amounts due on the respective security
	Saad Investments Company Limited, PO Box 309GT, Ugland House, South Church St, Georgetown, Grand Cayman, Cayman Islands	25,100	—	—	25,100	Issue Date: 8/24/07, Maturity Date: 8/24/12, Collateral Type: SR SECURED, Int Rate: L+1.10%	—	—	We will continue to monitor all available information that comes to our attention regarding possible payment and collection of amounts due on the respective security
	Tribune Company, 435 N. Michigan Ave, Chicago, IL 60611	28,351	—	—	28,351	Issue Date: 5/17/07, Maturity Date: 5/17/14, Collateral Type: SR SECURED, Int Rate: P+2.0%	—	—	We will continue to monitor all available information that comes to our attention regarding possible payment and collection of amounts due on the respective security
	Truvo Intermediate LLC, De Keyserlei 5 box 7, Antwerp, Belgium 2018	182,500	—	—	182,500	Issue Date: 5/23/07, Maturity Date: 5/31/14, Collateral Type: SR UNSECURED, Int Rate: 13.75%	—	61,646	We will continue to monitor all available information that comes to our attention regarding possible payment and collection of amounts due on the respective security
	Adelphia Communications Corp, 5619 DTC Parkway, Greenwood Village, CO 80111	3,100	—	—	3,100	Issue Date: 4/30/1999, Maturity Date: n/a, Collateral Type: NEW MONEY, Interest Rate: 5.5	—	1,473	We will continue to monitor all available information that comes to our attention regarding possible payment and collection of amounts due on the respective security
	Old AII Inc, 25825 Science Park Drive, Suite 400, Beachwood, OH 44122-7392	90,226	—	—	90,000	Issue Date: 8/23/2007, Maturity Date: 12/15/2016, Collateral Type: COMPANY GUARNT, Interest Rate: 10	—	17,175	We will continue to monitor all available information that comes to our attention regarding possible payment and collection of amounts due on the respective security
	Callahan Associates International, Gustav-Heinemann-Ufer 54,50968 Koeln,Germany	9,000	—	—	9,000	Issue Date: 7/16/2001, Maturity Date: 7/15/2011,Collateral Type:SENIOR NOTES,Interest Rate:14.125	—	10,901	We will continue to monitor all available information that comes to our attention regarding possible payment and collection of amounts due on the respective security
	Motors Liquidation Co, 300 Renaissance Center, Detroit, MI 48265	432,000	—	—	432,000	Issue Date: 4/29/1998, Maturity Date: 5/1/2028,Collateral Type:SR UNSECURED,Interest Rate:6.75	—	46,818	We will continue to monitor all available information that comes to our attention regarding possible payment and collection of amounts due on the respective security
	Motors Liquidation Co, 300 Renaissance Center, Detroit, MI 48265	161,000	—	—	161,000	Issue Date: 5/23/2003, Maturity Date: 5/23/2048,Collateral Type:SR UNSECURED,Interest Rate:7.375	—	19,064	We will continue to monitor all available information that comes to our attention regarding possible payment and collection of amounts due on the respective security
	Motors Liquidation Co, 300 Renaissance Center, Detroit, MI 48265	164,000	—	—	164,000	Issue Date: 9/11/1995, Maturity Date: 9/1/2025,Collateral Type:SR UNSECURED,Interest Rate:7.4	—	19,485	We will continue to monitor all available information that comes to our attention regarding possible payment and collection of amounts due on the respective security
	Motors Liquidation Co, 300 Renaissance Center, Detroit, MI 48265	376,000	—	—	376,000	Issue Date: 6/10/1996, Maturity Date: 6/15/2024,Collateral Type:SR UNSECURED,Interest Rate:8.1	—	48,899	We will continue to monitor all available information that comes to our attention regarding possible payment and collection of amounts due on the respective security
	Motors Liquidation Co, 300 Renaissance Center, Detroit, MI 48265	26,296	—	—	23,000	Issue Date: 3/12/1991, Maturity Date: 3/1/2021,Collateral Type:SR UNSECURED,Interest Rate:8.8	—	3,250	We will continue to monitor all available information that comes to our attention regarding possible payment and collection of amounts due on the respective security
	Motors Liquidation Co, 300 Renaissance Center, Detroit, MI 48265	139,095	—	—	139,000	Issue Date: 7/22/1991, Maturity Date: 7/15/2021,Collateral Type:SR UNSECURED,Interest Rate:9.4	—	20,978	We will continue to monitor all available information that comes to our attention regarding possible payment and collection of amounts due on the respective security
	ICO North America, 3468 Diablo Blvd., Suite B-115, Lafayette, CA 94549	927,700	—	—	927,700	Issue Date: 08/15/05, Maturity Date: 8/15/09,Collateral Type:n/a,Interest Rate:7.5	927,700	114,996	We will continue to monitor all available information that comes to our attention regarding possible payment and collection of amounts due on the respective security
	Lehman Brothers Holdings Inc., 745 Seventh Avenue, New York, NY 10019	200,000	—	—	200,000	Issue Date: 12/21/2006, Maturity Date: 12/23/2008,Collateral Type:SR UNSECURED,Interest Rate:0	200,000	—	We will continue to monitor all available information that comes to our attention regarding possible payment and collection of amounts due on the respective security
	Lehman Brothers Holdings Inc., 745 Seventh Avenue, New York, NY 10019	441,000	—	—	441,000	Issue Date: 12/21/2005, Maturity Date: 12/23/2010,Collateral Type:SR UNSECURED,Interest Rate:0	441,000	—	We will continue to monitor all available information that comes to our attention regarding possible payment and collection of amounts due on the respective security
	Lehman Brothers Holdings Inc., 745 Seventh Avenue, New York, NY 10019	363,000	—	—	363,000	Issue Date: 1/12/2007, Maturity Date: 1/12/2012,Collateral Type:SR UNSECURED,Interest Rate:0	—	—	We will continue to monitor all available information that comes to our attention regarding possible payment and collection of amounts due on the respective security
	Lehman Brothers Holdings Inc., 745 Seventh Avenue, New York, NY 10019	224,000	—	—	224,000	Issue Date: 2/25/2004, Maturity Date: 3/13/2014,Collateral Type:SR UNSECURED,Interest Rate:4.8	—	24,998	We will continue to monitor all available information that comes to our attention regarding possible payment and collection of amounts due on the respective security
	Lehman Brothers Holdings Inc., 745 Seventh Avenue, New York, NY 10019	147,000	—	—	147,000	Issue Date: 1/12/2007, Maturity Date: 2/6/2012,Collateral Type:SR UNSECURED,Interest Rate:5.25	—	17,943	We will continue to monitor all available information that comes to our attention regarding possible payment and collection of amounts due on the respective security
	Lehman Brothers Holdings Inc., 745 Seventh Avenue, New York, NY 10019	464,000	—	—	464,000	Issue Date: 3/29/2006, Maturity Date: 4/4/2016,Collateral Type:SR UNSECURED,Interest Rate:5.5	—	59,334	We will continue to monitor all available information that comes to our attention regarding possible payment and collection of amounts due on the respective security
	Lehman Brothers Holdings Inc., 745 Seventh Avenue, New York, NY 10019	5,643,000	—	—	5,643,000	Issue Date: 1/22/2008, Maturity Date: 1/24/2013,Collateral Type:SR UNSECURED,Interest Rate:5.625	—	737,999	We will continue to monitor all available information that comes to our attention regarding possible payment and collection of amounts due on the respective security
	Lehman Brothers Holdings Inc., 745 Seventh Avenue, New York, NY 10019	706,000	—	—	706,000	Issue Date: 7/19/2007, Maturity Date: 7/19/2012,Collateral Type:SR UNSECURED,Interest Rate:6	—	98,487	We will continue to monitor all available information that comes to our attention regarding possible payment and collection of amounts due on the respective security
	Lehman Brothers Holdings Inc., 745 Seventh Avenue, New York, NY 10019	2,009,000	—	—	2,009,000	Issue Date: 9/26/2007, Maturity Date: 9/26/2014,Collateral Type:SR UNSECURED,Interest Rate:6.2	—	289,597	We will continue to monitor all available information that comes to our attention regarding possible payment and collection of amounts due on the respective security
	Lehman Brothers Holdings Inc., 745 Seventh Avenue, New York, NY 10019	3,402,000	—	—	3,402,000	Issue Date: 1/10/2002, Maturity Date: 1/18/2012,Collateral Type:SR UNSECURED,Interest Rate:6.625	—	524,014	We will continue to monitor all available information that comes to our attention regarding possible payment and collection of amounts due on the respective security
	Lehman Brothers Holdings Inc., 745 Seventh Avenue, New York, NY 10019	1,879,000	—	—	1,879,000	Issue Date: 4/24/2008, Maturity Date: 5/2/2018,Collateral Type:SR UNSECURED,Interest Rate:6.875	—	300,346	We will continue to monitor all available information that comes to our attention regarding possible payment and collection of amounts due on the respective security
	Lehman Brothers Holdings Inc., 745 Seventh Avenue, New York, NY 10019	220,000	—	—	220,000	Issue Date: 8/15/2000, Maturity Date: 8/15/2010,Collateral Type:SR UNSECURED,Interest Rate:7.875	220,000	40,281	We will continue to monitor all available information that comes to our attention regarding possible payment and collection of amounts due on the respective security
	Lehman Brothers Holdings Inc., 745 Seventh Avenue, New York, NY 10019	645,000	—	—	645,000	Issue Date: 5/25/2007, Maturity Date: 5/25/2010,Collateral Type:SR UNSECURED,Interest Rate:0	645,000	—	We will continue to monitor all available information that comes to our attention regarding possible payment and collection of amounts due on the respective security
	Raser Technologies Inc., 5152 North Edgewood Drive, Suite 200, Provo, UT 84604	30,000	—	—	30,000	Issue Date: 6/13/2008, Maturity Date: 4/1/2013,Collateral Type:SR UNSECURED,Interest Rate:8	—	607	We will continue to monitor all available information that comes to our attention regarding possible payment and collection of amounts due on the respective security
	Tronox Inc., 3301 NW 150th Street, Oklahoma City, OK 73134	559,000	—	—	559,000	Issue Date: 7/14/2006, Maturity Date: 12/1/2012,Collateral Type:COMPANY GUARNT,Interest Rate:9.5	—	112,111	We will continue to monitor all available information that comes to our attention regarding possible payment and collection of amounts due on the respective security
	Tronox Inc., 3301 NW 150th Street, Oklahoma City, OK 73134	24,000	—	—	24,000	Issue Date: 7/14/2006, Maturity Date: 12/1/2012,Collateral Type:COMPANY GUARNT,Interest Rate:9.5	—	4,813	We will continue to monitor all available information that comes to our attention regarding possible payment and collection of amounts due on the respective security
	Washington Mutual Inc., 1201 Third Avenue, Seattle, WA 98101	124,000	—	—	124,000	Issue Date: 3/7/2006, Maturity Date: 3/29/2049,Collateral Type:JR SUBORDINATED,Interest Rate:6.534	—	16,789	We will continue to monitor all available information that comes to our attention regarding possible payment and collection of amounts due on the respective security
	Washington Mutual Inc., 1201 Third Avenue, Seattle, WA 98101	120,000	—	—	120,000	Issue Date: 5/24/2007, Maturity Date: 6/29/2049,Collateral Type:JR SUBORDINATED,Interest Rate:6.895	—	17,146	We will continue to monitor all available information that comes to our attention regarding possible payment and collection of amounts due on the respective security


*		Denotes party in interest


	Page(s)

Report of Independent Registered Public Accounting Firm		1

Financial Statements

Statements of Net Assets Available for Benefits		2

Statements of Changes in Net Assets Available for Benefits		3

Notes to Financial Statements		4–25

Supplemental Schedules*

Schedule H, Line 4i — Schedule of Assets (Held at End of Year)		26–61

Schedule H, Line 4i — Schedule of Assets (Acquired and Disposed of Within the Plan Year)		62

Schedule G, Part 1 — Schedule of Loans or Fixed Income Obligations in Default or Classified as Uncollectible		63

Signatures

Index to Exhibits

Consent of PricewaterhouseCoopers, LLP EX-23: Consent of PricewaterhouseCoopers, LLP


	As of December
(in thousands)	2010		2009
Assets

Net investments at fair value (Note 3)	$	4,843,692	$	4,262,451

Employee contributions		5,407		7,149
Employer contributions, net		93,252		79,556
Notes receivable from participants		24,326		24,038
Interest and dividends		6,197		15,237
Due from brokers		99,416		123,208


Total receivables		228,598		249,188


Total assets at fair value		5,072,290		4,511,639


Liabilities

Due to brokers and other payables		64,325		19,136
Accrued expenses		14,000		888


Total liabilities at fair value		78,325		20,024


Net assets available for benefits at fair value		4,993,965		4,491,615
Adjustment from fair value to contract value for fully benefit-responsive investment contracts		13,461		38,664


Net assets available for benefits	$	5,007,426	$	4,530,279


	Year Ended December
(in thousands)	2010		2009
Additions

Investment income:
Net appreciation in fair value of investments (Note 3)	$	453,706	$	711,019
Interest and dividends		37,265		49,488


Total investment income		490,971		760,507


Interest income on notes receivable from participants		1,338		1,338

Contributions:

Employee		180,291		136,857
Employer, net		92,947		79,266


Total contributions		273,238		216,123


Total additions		765,547		977,968


Deductions

Benefits paid		288,400		235,501


Total deductions		288,400		235,501


Net increase		477,147		742,467

Net assets available for benefits

Beginning of year		4,530,279		3,787,812


End of year	$	5,007,426	$	4,530,279

		Basis of Accounting

		These financial statements are prepared in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP) using the accrual basis of accounting.

		Use of Estimates

		U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the dates of the financial statements, and the reported amounts of additions and deductions during the reporting periods. The most important of these estimates and assumptions relate to fair value measurements of the Plan investments. These and other estimates and assumptions are based on the best available information but actual results could be materially different from those estimates.

		Reclassifications

		Certain prior year amounts have been reclassified to conform with the current year presentation.

		Employer Contributions

		The employer contributions receivable is presented on the Statements of Net Assets Available for Benefits, net of forfeited non-vested account balances as of December 31, 2010 and 2009.

		Payment of Benefits

		Benefits are recorded when paid.

		Notes Receivable from Participants

		Notes receivable from participants equals the outstanding principal balances plus accrued interest.

		Risks and Uncertainties

		The Plan provides for various investment options, which include investments in any combination of equities, fixed income securities, individual guaranteed investment contracts, currency and commodities, futures, forwards, options, derivative contracts and real estate investment trusts. Investment securities are exposed to various risks, such as interest rate, market and credit risk. Due to the level of risk associated with certain investments and the level of uncertainty related to changes in the value of investment securities, it is possible that changes in risks in the near term could materially affect participants’ account balances and the amounts reported in the Statements of Net Assets Available for Benefits and the Statements of Changes in Net Assets Available for Benefits.

		Swap contracts are valued at fair value, as determined by the investment managers (or independent third parties on behalf of the investment managers) utilizing their proprietary models and taking into consideration exchange quotations on underlying instruments, dealer quotations and other market information.

		Investments denominated in currencies other than the U.S. dollar are converted using exchange rates prevailing at the end of the periods presented. Purchases and sales of these investments are translated at the rate of exchange on the respective dates of such transactions.

		Money market mutual funds typically value their investments using the amortized cost method as permitted by Rule 2a-7 under the Investment Company Act of 1940, which approximates fair value.

		The fair value of asset backed securities is estimated based on analyses which incorporate comparisons to recent data for the same or similar asset backed securities and loan portfolios. Significant inputs include the amount and timing of expected future cash flows and market yields implied by transactions of similar or related assets.

		Dividend income is recorded on the ex-dividend date. Interest income is recorded on the accrual basis.

		Purchases and sales of the investments within the Plan are reflected on a trade-date basis.

		Due from brokers and due to brokers and other payables may include cash or securities maintained with brokers and counterparties for margin account balances, collateral held in conjunction with the Plan’s investment portfolio, and the amounts due to brokers for the settlement of purchase and sale transactions. These balances are not considered cash and short-term investments of the Plan. As of December 31, 2010, the Plan’s due from brokers and due to brokers and other payables balances were $99,416,482 and $64,325,174, respectively. As of December 31, 2009, the Plan’s due from brokers and due to brokers and other payables balances were $123,208,422 and $19,136,087, respectively. As of December 31, 2010 and 2009 due from brokers primarily included margin account balances, receivables for unsettled trades and collateral paid. As of December 31, 2010 and 2009 due to brokers and other payables included margin account balances, payables for unsettled trades and collateral received. Certain of the Plan’s securities held by the clearing brokers or prime brokers are pledged to the brokers on terms that permit the brokers to repledge the securities to other, subject to certain limitations. Securities held at custodians under custody agreements cannot be repledged to others by the custodian.

		Note 3 presents the net appreciation/(depreciation) in the fair value of Plan investments, which consists of realized gains or losses and unrealized appreciation/(depreciation) on those investments.


þ		Annual report pursuant to Section 15(d) of the Securities Exchange Act of 1934


o		Transition report Pursuant to Section 15(d) of the Securities Exchange Act of 1934


*		All other schedules required by 29 CFR §2520.103-10 of the Department of Labor’s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974, as amended, are not included because they are not applicable.

		ten years. Loans are repaid (principal and interest) and added back to participants’ account balances generally through regular after-tax payroll deductions.

		Trust Agreement

		The Plan’s investments are included in the Master Trust which is subject to a trust agreement (the “Trust Agreement”) with State Street Bank & Trust Company (the “Trustee”).

		The fair value of a financial instrument is the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between markets participants at the measurement date. Financial assets are marked to bid prices and financial liabilities are marked to offer prices. Fair value measurements do not include transaction costs.

		The best evidence of fair value is a quoted price in an active market. If listed prices or quotations are not available, fair value is determined by reference to prices for similar instruments, quoted prices or recent transactions in less active markets, or internally developed models that primarily use, as inputs, market-based or independently sourced parameters, including but not limited to interest rates, volatilities, equity or debt prices, foreign exchange rates, commodities prices and credit curves.

		U.S. GAAP has a three-level fair value hierarchy for disclosure of fair value measurements. The fair value hierarchy prioritizes inputs to the valuation techniques used to measure fair value, giving the highest priority to level 1 inputs and the lowest priority to level 3 inputs. A financial instrument’s level in the fair value hierarchy is based on the lowest level of any input that is significant to its fair value measurement.

		The fair value hierarchy is as follows:


Level 1		Inputs are unadjusted quoted prices in active markets to which the firm had access at the measurement date for identical, unrestricted assets or liabilities;


Level 2		Inputs to valuation techniques are observable, either directly or indirectly;


Level 3		One or more inputs to valuation techniques are significant and unobservable.

		Total Plan investment assets at fair value classified within Level 3 as of December 31, 2010 and 2009 were $660,384,655 and $670,467,228, respectively, which primarily consisted of the Plan’s Stable Value Fund collective trusts and guaranteed investment contracts holdings. Such amounts were approximately 13% and 15%, respectively, of “Total investment assets at fair value” of the Plan’s net assets at fair value (See Note 3).

		Investment Assets and Investment Liabilities by Level


	Investment Assets at Fair Value as of December 31, 2010
(in thousands)	Level 1		Level 2		Level 3			Total
Collective trusts
Fixed income	$	462,224	$	—	$	—		$	462,224
Large cap		454,206		—		—			454,206
Asset allocation		233,391		—		—			233,391
International		171,952		—		—			171,952
Small cap		99,569		—		—			99,569
Mid cap		83,606		—		—			83,606

Total collective trusts		1,504,948		—		—			1,504,948
Mutual funds
Fixed income		496,016		—		—			496,016
Mid cap		353,150		—		—			353,150
Large cap		243,757		—		—			243,757
International		185,211		—		—			185,211
Real estate investment trusts		117,624		—		—			117,624
Commodities		67,675		—		—			67,675

Total mutual funds		1,463,433		—		—			1,463,433
Managed accounts
Common and preferred stocks		998,090		15,388		—			1,013,478
Collective trusts		10,385		—		608,594	¹		618,979
Fixed income securities		38,706		245,245		49,561	²		333,512
Cash and short-term investments		49,421		17,168		—			66,589
Derivative contracts		—		19,803		—			19,803
Real estate investment trusts		6,414		—		—			6,414
Asset-backed securities		—		5,047		2,230			7,277

Total investment assets at fair value	$	4,071,397	$	302,651	$	660,385		$	5,034,433


1.		Principally consists of investments in non-public investment vehicles.

2.		Principally consists of mortgage backed securities and collateralized debt obligations.


	Investment Liabilities at Fair Value as of December 31, 2010
(in thousands)	Level 1		Level 2		Level 3		Total
Derivative contracts	$	—	$	20,223	$	—	$	20,223
Cash and short-term investments		392		—		—		392
Managed accounts
Common and preferred stocks		145,192		2,691		—		147,883
Fixed income securities		11,723		8,687		—		20,410
Real estate investment trusts		1,833		—		—		1,833

Total investment liabilities at fair value	$	159,140	$	31,601	$	—	$	190,741


1.		Consists of private placement investments.

2.		Principally consists of investments in non-public investment vehicles.

3.		Principally consists of mortgage backed securities and collateralized debt obligations.


	Year Ended December 31, 2010
									Common
				Fixed		Asset-			and
	Collective			Income		Backed			Preferred
(in thousands)	Trusts			Securities		Securities			Stocks			Total
Balance, beginning of year	$	653,343		$	14,378	$	2,719		$	27		$	670,467
Realized gains/(losses)		—			6,034		25			—			6,059
Unrealized gains/(losses) relating to instruments still held at the reporting date		25,202			1,198		(62	)		—			26,338
Purchases, issuances, and settlements		(69,951	)		27,951		(452	)		(27	)		(42,479	)
Transfers in and/or out of level 3		—			—		—			—			—

Balance, end of year	$	608,594		$	49,561	$	2,230		$	—		$	660,385


	Year Ended December 31, 2009
												Common
				Guaranteed			Fixed		Asset-			and
	Collective			Investment			Income		Backed			Preferred
(in thousands)	Trusts			Contracts			Securities		Securities			Stocks			Total
Balance, beginning of year	$	653,183		$	12,528		$	160	$	4,356		$	26		$	670,253
Realized gains/(losses)		15,807			1,885			186		45			—			17,923
Unrealized gains/(losses) relating to instruments still held at the reporting date		20,353			85			1,077		191			(3	)		21,703
Purchases, issuances, and settlements		(36,000	)		(14,498	)		12,955		(1,873	)		4			(39,412	)
Transfers in and/or out of level 3		—			—			—		—			—			—

Balance, end of year	$	653,343		$	—		$	14,378	$	2,719		$	27		$	670,467

		A stable value collective investment trust is a commingled investment vehicle that provides liquidity at contract value. The Fund owned units of the SEI Stable Asset Fund, which served as the Fund’s short-term liquidity vehicle. Effective October 1, 2010, the Fund discontinued its use of the SEI Stable Asset Fund, but will continue to use the Financial Square Money Market Fund to manage short-term liquidity.

		Variables that impact future crediting rates

		Primary variables impacting future crediting rates of wrap contracts include:

	-		current yield of the underlying assets within the wrap contract

	-		duration of the underlying assets covered by the wrap contract or other amortization period agreed upon by the investment manager and the wrap provider

	-		existing difference between the market value and contract value of the underlying assets within the wrap contract


As of December 2010
Type of	Assets		Liabilities		Number of
Derivative Exposure	Fair Value		Fair Value		Contracts
Equity and Bond	$	14,522	$	13,071		530
Credit		2,803		3,096		182
Currency		1,761		3,008		165
Interest Rate		717		1,026		78
Commodities		—		22		3

	$	19,803	$	20,223		958


As of December 2009
Type of	Assets		Liabilities		Number of
Derivative Exposure	Fair Value		Fair Value		Contracts
Equity and Bond	$	8,484	$	7,774		478
Currency		3,570		532		256
Interest Rate		825		949		30
Credit		609		3,320		131
Commodities		48		13		2

	$	13,536	$	12,588		897


	Appreciation/(Depreciation) for the years ended
(in thousands)	December 31,
Type of Derivative Exposure	2010			2009
Currency	$	1,910		$	(4,386	)
Interest rate		1,750			2,379
Credit		399			(5,596	)
Other		110			56
Commodities		(36	)		(74	)
Equity and Bond		(2,199	)		3,574

Total	$	1,934		$	(4,047	)


Identity of issue, borrower, lessor, or similar party including
Maturity Date, Rate of Interest, Collateral, Par, or Maturity	Shares/Par		Proceeds of
Value	Value		dispositions
Common Stock
LINN ENERGY LLC		1,949		48,627

Partner Joint Venture
LAZARD LTD		50,934		1,735,441
ATLAS PIPELINES PARTNERS LP		5,901		141,113
ENCORE ENERGY PARTNERS LP		5,610		102,866


Total		64,394		2,028,047


The GOLDMAN SACHS 401(k) PLAN Members of the Administrative Committee
By:	/s/ Christopher Ceder
Name:		Christopher Ceder

By:	/s/ Peter Johnson
Name:		Peter Johnson

By:	/s/ Edina Jung
Name:		Edina Jung

By:	/s/ Marguarite A. Carmody
Name:		Marguarite A. Carmody


Exhibit No.		Description
23		Consent of PricewaterhouseCoopers LLP, Independent Registered Public Accounting Firm