UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number:  811-08894

JNL Series Trust

(Exact name of registrant as specified in charter)

1 Corporate Way, Lansing, Michigan 48951

(Address of principal executive offices)

225 West Wacker Drive, Suite 1200, Chicago, Illinois 60606

(Mailing Address)

Karen J. Buiter

Jackson National Asset Management, LLC

225 West Wacker Drive, Suite 1200

Chicago, Illinois 60606

(Name and Address of agent of service)

Registrant's telephone number, including area code:  (312) 338-5890

Date of fiscal year end:  December 31

Date of reporting period:  January 1, 2010 – March 31, 2010

Form N-Q is to be used by management investment companies, other than small business investment companies registered on Form N-5 (§§ 239.24 and 274.5 of this chapter), to file reports with the Commission, not later than 60 days after the close of the first and third fiscal quarters, pursuant to rule 30b1-5 under the Investment Company Act of 1940 (17 CFR 270.30b1-5).  The Commission may use the information provided on Form N-Q in its regulatory, disclosure review, inspection, and policymaking roles.

A registrant is required to disclose the information specified by Form N-Q, and the Commission will make this information public.  A registrant is not required to respond to the collection of information contained in Form N-Q unless the Form displays a currently valid Office of Management and Budget ("OMB") control number.  Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to the Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington, DC 20549-0609.  The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.

Item 1.  Schedule of Investments.

JNL Series Trust (unaudited)

Schedules of Investments (in thousands, except for contracts)

March 31, 2010

			Shares/Par/
JNL Institutional Alt 20 Fund (b)			Contracts/
INVESTMENT FUNDS - 99.5%			Ounces (q)	Value
	JNL/AIM Global Real Estate Fund (2.2%) (a)		1,158	$          8,962
	JNL/Credit Suisse Commodity Securities Fund (1.7%) (a)		1,244	11,568
	JNL/Goldman Sachs Emerging Markets Debt Fund (1.3%) (a)		461	5,808
	JNL/Lazard Emerging Markets Fund (0.7%) (a)		587	6,176
	JNL/Mellon Capital Management Bond Index Fund (9.3%) (a)		7,587	87,786
	JNL/Mellon Capital Management Global Alpha Fund (5.8%) (a)		556	5,502
	JNL/Mellon Capital Management International Index Fund (4.2%) (a)		2,873	34,364
	JNL/Mellon Capital Management Nasdaq 25 Fund (8.2%) (a)		1,172	12,249
	JNL/Mellon Capital Management S&P 24 Fund (18.7%) (a)		3,976	34,991
	JNL/Mellon Capital Management S&P SMid 60 Fund (7.9%) (a)		2,179	21,940
	JNL/Mellon Capital Management Small Cap Index Fund (2.1%) (a)		1,100	12,015
	JNL/Mellon Capital Management Value Line 30 Fund (4.0%) (a)		2,398	26,877
	JNL/PIMCO Real Return Fund (0.4%) (a)		476	5,588
	JNL/PPM America High Yield Bond Fund (0.9%) (a)		929	5,962
	JNL/Red Rocks Listed Private Equity Fund (2.7%) (a)		1,049	9,188
	Total Investment Funds (cost $273,029)			288,976
Total Investments - 99.5% (cost $273,029)				288,976
Other Assets and Liabilities, Net - 0.5%				1,332
Total Net Assets - 100%				$      290,308
JNL Institutional Alt 35 Fund (b)
INVESTMENT FUNDS - 99.7%
	JNL/AIM Global Real Estate Fund (5.6%) (a)		2,918	$        22,582
	JNL/Credit Suisse Commodity Securities Fund (5.2%) (a)		3,761	34,979
	JNL/Goldman Sachs Emerging Markets Debt Fund (3.0%) (a)		1,040	13,110
	JNL/Ivy Asset Strategy Fund (1.9%) (a)		821	8,589
	JNL/Lazard Emerging Markets Fund (1.6%) (a)		1,333	14,040
	JNL/Mellon Capital Management Bond Index Fund (10.0%) (a)		8,187	94,724
	JNL/Mellon Capital Management Global Alpha Fund (13.1%) (a)		1,257	12,445
	JNL/Mellon Capital Management International Index Fund (5.8%) (a)		3,983	47,635
	JNL/Mellon Capital Management Nasdaq 25 Fund (9.3%) (a)		1,324	13,839
	JNL/Mellon Capital Management S&P 24 Fund (25.8%) (a)		5,485	48,270
	JNL/Mellon Capital Management S&P SMid 60 Fund (10.3%) (a)		2,834	28,538
	JNL/Mellon Capital Management Small Cap Index Fund (2.4%) (a)		1,241	13,549
	JNL/Mellon Capital Management Value Line 30 Fund (5.4%) (a)		3,206	35,941
	JNL/PPM America High Yield Bond Fund (2.8%) (a)		2,806	18,017
	JNL/Red Rocks Listed Private Equity Fund (9.7%) (a)		3,718	32,568
	Total Investment Funds (cost $409,773)			438,826
Total Investments - 99.7% (cost $409,773)				438,826
Other Assets and Liabilities, Net - 0.3%				1,368
Total Net Assets - 100%				$      440,194
JNL Institutional Alt 50 Fund (b)
INVESTMENT FUNDS - 99.9%
	JNL/AIM Global Real Estate Fund (11.9%) (a)		6,170	$        47,756
	JNL/Credit Suisse Commodity Securities Fund (5.3%) (a)		3,870	35,995
	JNL/Goldman Sachs Emerging Markets Debt Fund (4.8%) (a)		1,634	20,606
	JNL/Ivy Asset Strategy Fund (4.6%) (a)		1,932	20,207
	JNL/Lazard Emerging Markets Fund (2.6%) (a)		2,085	21,955
	JNL/Mellon Capital Management Bond Index Fund (9.3%) (a)		7,570	87,588
	JNL/Mellon Capital Management Global Alpha Fund (30.9%) (a)		2,961	29,312
	JNL/Mellon Capital Management International Index Fund (5.6%) (a)		3,830	45,809
	JNL/Mellon Capital Management Nasdaq 25 Fund (7.3%) (a)		1,040	10,873
	JNL/Mellon Capital Management S&P 24 Fund (22.1%) (a)		4,704	41,394
	JNL/Mellon Capital Management S&P SMid 60 Fund (10.1%) (a)		2,769	27,884
	JNL/Mellon Capital Management Small Cap Index Fund (1.9%) (a)		976	10,659
	JNL/Mellon Capital Management Value Line 30 Fund (4.8%) (a)		2,837	31,799
	JNL/PPM America High Yield Bond Fund (3.3%) (a)		3,302	21,196
	JNL/Red Rocks Listed Private Equity Fund (19.4%) (a)		7,467	65,410
	Total Investment Funds (cost $485,184)			518,443
Total Investments - 99.9% (cost $485,184)				518,443
Other Assets and Liabilities, Net - 0.1%				397
Total Net Assets - 100%				$      518,840
JNL Institutional Alt 65 Fund (b)
INVESTMENT FUNDS - 99.7%
	JNL/AIM Global Real Estate Fund (9.7%) (a)		5,035	$        38,969
	JNL/Credit Suisse Commodity Securities Fund (4.1%) (a)		2,955	27,482
	JNL/Goldman Sachs Emerging Markets Debt Fund (4.0%) (a)		1,371	17,286
	JNL/Ivy Asset Strategy Fund (4.6%) (a)		1,941	20,300
	JNL/Lazard Emerging Markets Fund (2.1%) (a)		1,740	18,323
	JNL/Mellon Capital Management Bond Index Fund (3.1%) (a)		2,544	29,434
	JNL/Mellon Capital Management Global Alpha Fund (34.5%) (a)		3,306	32,728
	JNL/Mellon Capital Management International Index Fund (2.9%) (a)		1,994	23,843
	JNL/Mellon Capital Management Nasdaq 25 Fund (4.9%) (a)		696	7,271
	JNL/Mellon Capital Management S&P 24 Fund (13.0%) (a)		2,759	24,281
	JNL/Mellon Capital Management S&P SMid 60 Fund (5.4%) (a)		1,472	14,827
	JNL/Mellon Capital Management Small Cap Index Fund (1.3%) (a)		655	7,148
	JNL/Mellon Capital Management Value Line 30 Fund (2.1%) (a)		1,268	14,214
	JNL/PPM America High Yield Bond Fund (1.7%) (a)		1,655	10,628
	JNL/Red Rocks Listed Private Equity Fund (18.3%) (a)		7,053	61,784
	Total Investment Funds (cost $326,995)			348,518
Total Investments - 99.7% (cost $326,995)				348,518
Other Assets and Liabilities, Net - 0.3%				958
Total Net Assets - 100%				$      349,476
JNL/AIM International Growth Fund
COMMON STOCKS - 92.0%
CONSUMER DISCRETIONARY - 13.1%
	Adidas AG		93	$          4,987
	Bayerische Motoren Werke AG		85	3,925
	Compass Group Plc		857	6,838
	Denso Corp.		118	3,518
	Esprit Holdings Ltd. (e)		469	3,702
	Eutelsat Communications Group SA		61	2,178
	Grupo Televisa SA - ADR		217	4,572
	Hyundai Mobis		32	4,200
	Informa Plc		661	3,886
	Li & Fung Ltd.		634	3,119
	Puma AG Rudolf Dassler Sport		17	5,251
	Reed Elsevier Plc		465	3,711
	Toyota Motor Corp.		108	4,314
	WPP Plc		364	3,775
				57,976
CONSUMER STAPLES - 14.3%
	Anheuser-Busch InBev NV		157	7,932
	British American Tobacco Plc		136	4,681
	Danone SA		71	4,270
	Imperial Tobacco Group Plc		310	9,443
	Koninklijke Ahold NV		359	4,782
	Nestle SA		196	10,027
	Reckitt Benckiser Group Plc		179	9,821
	Tesco Plc		976	6,448
	Unilever NV		96	2,893
	Woolworths Ltd. (e)		118	3,038
				63,335
ENERGY - 8.6%
	BG Group Plc		266	4,603
	Canadian Natural Resources Ltd.		51	3,748
	Cenovus Energy Inc.		67	1,745
	EnCana Corp.		96	2,979
	ENI SpA		181	4,246
	Gazprom OAO - ADR		41	968
	Petroleo Brasileiro SA - ADR		114	4,532
	Petroleum Geo-Services ASA (c)		192	2,514
	Suncor Energy Inc.		118	3,843
	Talisman Energy Inc.		223	3,821
	Total SA		88	5,122
				38,121
FINANCIALS - 8.7%
	Akbank T.A.S.		544	3,513
	AXA SA		152	3,389
	Banco Bradesco SA - ADR (e)		167	3,087
	BNP Paribas		74	5,706
	Fairfax Financial Holdings Ltd.		9	3,433
	Industrial & Commercial Bank of China (e)		7,153	5,454
	QBE Insurance Group Ltd.		196	3,756
	UniCredit SpA (c)		1,114	3,292
	United Overseas Bank Ltd.		482	6,622
				38,252
HEALTH CARE - 15.7%
	Bayer AG		99	6,703
	Cochlear Ltd. (e)		88	5,887
	CSL Ltd.		129	4,320
	Fresenius Medical Care AG & Co. KGaA (e)		53	2,983
	Merck KGaA (e)		23	1,843
	Novartis AG		38	2,078
	Novo-Nordisk A/S - Class B (e)		102	7,900
	Roche Holding AG		67	10,810
	Shire Plc		367	8,096
	Smith & Nephew Plc		199	1,986
	Sonova Holding AG		30	3,669
	Teva Pharmaceutical Industries Ltd. - ADR		209	13,165
				69,440
INDUSTRIALS - 10.4%
	BAE Systems Plc		587	3,305
	Bharat Heavy Electricals Ltd.		51	2,735
	Bombardier Inc. - Class B		666	4,084
	Canadian National Railway Co.		58	3,501
	Capita Group Plc		197	2,261
	Fanuc Ltd.		40	4,266
	Finmeccanica SpA		385	5,140
	Hutchison Whampoa Ltd.		744	5,443
	Keppel Corp. Ltd.		912	5,945
	Komatsu Ltd.		104	2,182
	Singapore Technologies Engineering Ltd.		869	1,982
	TNT NV		174	4,977
				45,821
INFORMATION TECHNOLOGY - 9.1%
	Hoya Corp.		158	4,347
	Infosys Technologies Ltd. - ADR (e)		144	8,496
	Keyence Corp.		17	4,081
	MediaTek Inc.		187	3,244
	Nidec Corp.		67	7,202
	Nokia Oyj		291	4,530
	SAP AG		65	3,168
	Taiwan Semiconductor Manufacturing Co. Ltd.		2,753	5,332
				40,400
MATERIALS - 3.4%
	BHP Billiton Ltd.		208	8,334
	Syngenta AG		25	6,892
				15,226
TELECOMMUNICATION SERVICES - 6.7%
	America Movil SAB de CV - ADR		160	8,039
	Koninklijke KPN NV (e)		303	4,799
	Philippine Long Distance Telephone Co.		106	5,695
	Telefonica SA		178	4,225
	Vodafone Group Plc		3,047	7,027
				29,785
UTILITIES - 2.0%
	Centrica Plc		684	3,049
	International Power Plc		1,176	5,691
				8,740
	Total Common Stocks (cost $385,216)			407,096
NON-U.S. GOVERNMENT AGENCY ASSET-BACKED SECURITIES - 0.0%
	Sigma Finance, Inc. (d) (f) (u)		$             1,173	50
	Total Non-U.S. Government Agency Asset-Backed Securities (cost $1,173)			50
SHORT TERM INVESTMENTS - 15.1%
Mutual Funds - 7.5%
	JNL Money Market Fund, 0.03% (a) (h)		33,183	33,183
Securities Lending Collateral - 7.6%
	Securities Lending Cash Collateral Fund LLC, 0.24% (a) (h)		24,371	24,371
	Securities Lending Liquidating Fund LLC, 0.38% (a) (h)		9,359	9,359
				33,730
	Total Short Term Investments (cost $66,913)			66,913
Total Investments - 107.1% (cost $453,302)				474,059
Other Assets and Liabilities, Net -  (7.1%)				(31,633)
Total Net Assets - 100%				$      442,426
JNL/AIM Large Cap Growth Fund
COMMON STOCKS - 95.4%
CONSUMER DISCRETIONARY - 12.3%
	Apollo Group Inc. - Class A (c)		121	$          7,391
	Coach Inc.		190	7,496
	Dollar Tree Inc. (c)		153	9,067
	Ford Motor Co. (c)		1,211	15,219
	Gap Inc.		358	8,265
	Kohl's Corp. (c)		130	7,148
	Limited Brands Inc.		508	12,507
	Ross Stores Inc.		223	11,924
	Starbucks Corp. (c)		296	7,178
				86,195
CONSUMER STAPLES - 1.3%
	Estee Lauder Cos. Inc.		147	9,503
ENERGY - 9.4%
	Diamond Offshore Drilling Inc. (e)		66	5,867
	Ensco International Plc - ADR		172	7,704
	FMC Technologies Inc. (c)		176	11,385
	National Oilwell Varco Inc.		273	11,063
	Noble Corp. (c)		157	6,586
	Occidental Petroleum Corp.		274	23,155
				65,760
FINANCIALS - 3.3%
	BlackRock Inc.		35	7,627
	Goldman Sachs Group Inc.		90	15,333
				22,960
HEALTH CARE - 17.2%
	Abbott Laboratories		107	5,629
	AmerisourceBergen Corp.		428	12,388
	Amgen Inc. (c)		353	21,092
	Cardinal Health Inc.		140	5,052
	Express Scripts Inc. (c)		103	10,525
	Gilead Sciences Inc. (c)		153	6,969
	Johnson & Johnson		143	9,291
	McKesson Corp.		178	11,719
	Medco Health Solutions Inc. (c)		187	12,069
	Quest Diagnostics Inc.		99	5,760
	UnitedHealth Group Inc.		310	10,130
	WellPoint Inc. (c)		159	10,205
				120,829
INDUSTRIALS - 10.1%
	ABB Ltd. (c) (e)		461	10,078
	Cooper Industries Plc		167	8,008
	Fluor Corp.		239	11,100
	Goodrich Corp.		123	8,656
	Joy Global Inc.		121	6,870
	Union Pacific Corp.		107	7,827
	United Technologies Corp.		120	8,839
	URS Corp. (c)		186	9,209
				70,587
INFORMATION TECHNOLOGY - 37.3%
	Accenture Plc		391	16,403
	Apple Inc. (c)		226	53,025
	BMC Software Inc. (c)		103	3,911
	Check Point Software Technologies Ltd. (c)		210	7,377
	Cisco Systems Inc. (c)		552	14,376
	Cognizant Technology Solutions Corp. (c)		205	10,428
	EMC Corp. (c)		900	16,238
	Flextronics International Ltd. (c)		922	7,232
	Google Inc. - Class A (c)		23	12,838
	Hewlett-Packard Co.		481	25,557
	International Business Machines Corp.		143	18,403
	Marvell Technology Group Ltd. (c)		544	11,093
	MasterCard Inc.		34	8,724
	Microsoft Corp.		638	18,671
	Netease.com - ADR (c)		181	6,412
	Oracle Corp.		679	17,433
	Western Digital Corp. (c)		155	6,027
	Xilinx Inc.		304	7,761
				261,909
MATERIALS - 4.5%
	BHP Billiton Ltd. - ADR (e)		142	11,393
	Rio Tinto Plc - ADR (e)		33	7,897
	Syngenta AG		44	12,304
				31,594
	Total Common Stocks (cost $578,288)			669,337
NON-U.S. GOVERNMENT AGENCY ASSET-BACKED SECURITIES - 0.0%
	Sigma Finance, Inc. (d) (f) (u)		$                510	22
	Total Non-U.S. Government Agency Asset-Backed Securities (cost $510)			22
SHORT TERM INVESTMENTS - 4.4%
Mutual Funds - 2.1%
	JNL Money Market Fund, 0.03% (a) (h)		14,946	14,946
Securities Lending Collateral - 2.3%
	Securities Lending Cash Collateral Fund LLC, 0.24% (a) (h)		12,541	12,541
	Securities Lending Liquidating Fund LLC, 0.38% (a) (h)		3,330	3,330
				15,871
	Total Short Term Investments (cost $30,817)			30,817
Total Investments - 99.8% (cost $609,615)				700,176
Other Assets and Liabilities, Net - 0.2%				1,753
Total Net Assets - 100%				$      701,929
JNL/AIM Global Real Estate Fund
COMMON STOCKS - 96.7%
CONSUMER DISCRETIONARY - 0.5%
	Starwood Hotels & Resorts Worldwide Inc.		46	$          2,129
FINANCIALS - 96.2%
Real Estate Investment Trusts - 64.0%
Diversified - REITS - 21.7%
	Ascendas Real Estate Investment Trust		711	975
	BGP Holdings Plc (f) (u)		5,552	-
	British Land Co. Plc		421	3,072
	Canadian Real Estate Investment Trust		131	3,558
	CapitaCommercial Trust		2,183	1,685
	Cominar Real Estate Investment Trust		66	1,249
	Corio NV		25	1,667
	Derwent London Plc		83	1,717
	Dexus Property Group		5,155	3,831
	Digital Realty Trust Inc. (e)		135	7,335
	Eurocommercial Properties NV		46	1,831
	Gecina SA		21	2,374
	Goodman Group		9,835	5,911
	Hammerson Plc		476	2,841
	Kenedix Realty Investment Corp.		0	1,206
	Klepierre (e)		80	3,153
	Land Securities Group Plc		547	5,632
	Liberty Property Trust (e)		144	4,891
	Morguard Real Estate Investment Trust		106	1,424
	Segro Plc		672	3,259
	Shaftesbury Plc		298	1,739
	Stockland		1,453	5,319
	Suntec Real Estate Investment Trust (e)		1,482	1,420
	Unibail-Rodamco SE		51	10,401
	Vornado Realty Trust		105	7,914
	Wereldhave NV (c)		25	2,416
				86,820
Industrial - REITS - 2.8%
	AMB Property Corp.		87	2,378
	DCT Industrial Trust Inc.		229	1,196
	Hansteen Holdings Plc		1,129	1,371
	ProLogis		383	5,062
	ProLogis European Properties (c)		172	1,210
				11,217
Office - REITS - 7.4%
	Alexandria Real Estate Equities Inc. (e)		58	3,934
	Boston Properties Inc.		94	7,080
	Commonwealth Property Office Fund (e)		1,167	969
	ING Office Fund		1,782	956
	Japan Prime Realty Investment Corp.		1	1,247
	Japan Real Estate Investment Corp. (e)		-	2,634
	Kilroy Realty Corp. (e)		81	2,492
	Mack-Cali Realty Corp.		41	1,449
	Nippon Building Fund Inc.		-	3,134
	Piedmont Office Realty Trust Inc. (e)		53	1,052
	SL Green Realty Corp.		44	2,531
	Societe Immobiliere de Location pour l'Industrie et le Commerce		16	2,065
				29,543
Residential - REITS - 5.6%
	American Campus Communities Inc.		69.90	1,934
	AvalonBay Communities Inc. (e)		36.25	3,130
	Camden Property Trust		105.08	4,374
	Equity Residential		166.84	6,532
	Essex Property Trust Inc. (e)		50.96	4,583
	Mid-America Apartment Communities Inc.		39.30	2,036
				22,589
Retail - REITS - 15.6%
	Acadia Realty Trust		77	1,382
	CapitaMall Trust		2,478	3,136
	CFS Retail Property Trust		3,719	6,399
	Federal Realty Investment Trust (e)		23	1,646
	Japan Retail Fund Investment Corp. (e)		1	1,066
	Link Real Estate Investment Trust		855	2,108
	Macerich Co. (e)		99	3,807
	Primaris Retail Real Estate Investment Trust		162	2,678
	Regency Centers Corp.		136	5,100
	RioCan Real Estate Investment Trust		5	87
	Simon Property Group Inc. (e)		188	15,791
	Tanger Factory Outlet Centers Inc.		46	1,978
	Westfield Group		1,557	17,234
				62,412
Specialized - REITS - 10.9%
	Big Yellow Group Plc (c)		391	2,019
	CBL & Associates Properties Inc.		53	727
	DiamondRock Hospitality Co. (c)		136	1,376
	Health Care REIT Inc. (e)		117	5,269
	Hospitality Properties Trust		31	750
	Host Hotels & Resorts Inc. (c)		635	9,304
	Nationwide Health Properties Inc.		121	4,256
	Public Storage		79	7,230
	Senior Housing Properties Trust		188	4,175
	Taubman Centers Inc.		40	1,597
	Ventas Inc.		150	7,128
				43,831
REAL ESTATE MANAGEMENT & DEVELOPMENT - 32.2%
Real Estate Operating Companies - 25.7%
	Agile Property Holdings Ltd. (e)		2,186	2,984
	BR Properties SA (c)		133	959
	Brookfield Properties Corp. (e)		225	3,465
	CapitaLand Ltd.		2,338	6,635
	China Overseas Land & Investment Ltd.		2,419	5,465
	China Resources Land Ltd. (e)		1,566	3,405
	Gagfah Sa		105	945
	Glorious Property Holdings Ltd. (c)		1,642	696
	Hang Lung Properties Ltd. (e)		1,402	5,652
	Henderson Land Development Co. Ltd.		779	5,488
	Hongkong Land Holdings Ltd.		1,495	7,580
	Keppel Land Ltd.		610	1,600
	Kerry Properties Ltd.		580	3,109
	KWG Property Holding Ltd.		1,628	1,182
	Longfor Properties Co. Ltd. (c)		17	18
	Mitsui Fudosan Co. Ltd.		601	10,202
	New World Development Ltd.		575	1,126
	NTT Urban Development Corp. (e)		2	1,369
	Pebblebrook Hotel Trust (c)		34	724
	Retail Opportunity Investments Corp. (c)		95	956
	Shimao Property Holdings Ltd.		530	974
	Sino Land Co. (e)		2,212	4,336
	Sumitomo Realty & Development Co. Ltd. (e)		368	7,003
	Sun Hung Kai Properties Ltd. (e)		1,404	21,121
	Unite Group Plc (c)		425	1,664
	Wharf Holdings Ltd.		785	4,423
				103,081
Real Estate Services - 6.5%
	AEON Mall Co. Ltd.		63.40	1,337.00
	Castellum AB (e)		206.67	2,082.00
	Citycon Oyj		409.32	1,631.00
	Conwert Immobilien Invest SE (c)		145.77	1,809.00
	Deutsche EuroShop AG		45.38	1,497.00
	Mitsubishi Estate Co. Ltd.		814.00	13,321.00
	Sponda OYJ (e)		237.58	992.00
	Swiss Prime Site AG (c)		55.11	3,447.00
				26,116
	Total Common Stocks (cost $341,329)			387,738
NON-U.S. GOVERNMENT AGENCY ASSET-BACKED SECURITIES - 0.0%
	Morgan Stanley Capital I REMIC, 5.94%, 10/15/42 (i)		$                330	123
	Sigma Finance, Inc. (d) (f) (u)		1,085	46
	Total Non-U.S. Government Agency Asset-Backed Securities (cost $1,408)			169
SHORT TERM INVESTMENTS - 13.0%
Mutual Funds - 4.0%
	JNL Money Market Fund, 0.03% (a) (h)		15,910	15,910
Securities Lending Collateral - 9.0%
	Securities Lending Cash Collateral Fund LLC, 0.24% (a) (h)		26,276	26,276
	Securities Lending Liquidating Fund LLC, 0.38% (a) (h)		9,646	9,646
				35,922
	Total Short Term Investments (cost $51,832)			51,832
Total Investments - 109.7% (cost $394,569)				439,739
Other Assets and Liabilities, Net -  (9.7%)				(38,820)
Total Net Assets - 100%				$      400,919
JNL/AIM Small Cap Growth Fund
COMMON STOCKS - 95.1%
CONSUMER DISCRETIONARY - 16.5%
	Big Lots Inc. (c)		29	$          1,040
	Brinker International Inc.		44	842
	Buffalo Wild Wings Inc. (c)		17	829
	Chico's FAS Inc. (c)		54	772
	Choice Hotels International Inc.		22	779
	Darden Restaurants Inc.		19	832
	Deckers Outdoor Corp. (c)		8	1,157
	Group 1 Automotive Inc. (c) (e)		27	860
	Gymboree Corp. (c)		16	815
	Jack in the Box Inc. (c)		40	952
	National CineMedia Inc.		44	761
	NetFlix Inc. (c) (e)		15	1,098
	Penn National Gaming Inc. (c)		33	926
	PF Chang's China Bistro Inc. (c) (e)		26	1,161
	Pool Corp.		32	731
	Tractor Supply Co. (c)		13	728
	TRW Automotive Holdings Corp. (c)		35	1,003
	Warnaco Group Inc. (c)		16	783
	Williams-Sonoma Inc.		36	945
	WMS Industries Inc. (c)		19	817
				17,831
CONSUMER STAPLES - 1.6%
	Church & Dwight Co. Inc.		16	1,055
	Ralcorp Holdings Inc. (c)		9	638
				1,693
ENERGY - 5.7%
	Arena Resources Inc. (c)		20	679
	Bill Barrett Corp. (c)		21	647
	Carrizo Oil & Gas Inc. (c) (e)		31	717
	Dril-Quip Inc. (c)		14	849
	FMC Technologies Inc. (c)		13	871
	Goodrich Petroleum Corp. (c) (e)		26	408
	Patterson-UTI Energy Inc.		47	653
	SandRidge Energy Inc. (c) (e)		53	409
	Whiting Petroleum Corp. (c)		11	867
				6,100
FINANCIALS - 7.9%
	Affiliated Managers Group Inc. (c) (e)		12	980
	BioMed Realty Trust Inc. (e)		43	705
	Brown & Brown Inc.		26	467
	City National Corp. (e)		15	815
	Cullen/Frost Bankers Inc.		14	780
	Federated Investors Inc. - Class B (e)		27	713
	Greenhill & Co. Inc.		11	920
	optionsXpress Holdings Inc. (c)		33	530
	ProAssurance Corp. (c)		16	960
	Stifel Financial Corp. (c)		12	656
	SVB Financial Group (c)		22	1,013
				8,539
HEALTH CARE - 18.3%
	Acorda Therapeutics Inc. (c)		25	872
	AMAG Pharmaceuticals Inc. (c) (e)		16	556
	American Medical Systems Holdings Inc. (c)		43	798
	BioMarin Pharmaceutical Inc. (c)		40	929
	Biovail Corp.		49	826
	Chemed Corp.		21	1,143
	Eclipsys Corp. (c)		45	889
	Gen-Probe Inc. (c)		17	845
	Insulet Corp. (c) (e)		36	541
	inVentiv Health Inc. (c)		41	921
	Isis Pharmaceuticals Inc. (c)		23	251
	Martek Biosciences Corp. (c) (e)		37	835
	Medicis Pharmaceutical Corp.		32	817
	Mednax Inc. (c)		18	1,030
	Meridian Bioscience Inc.		31	631
	Myriad Genetics Inc. (c)		16	373
	NuVasive Inc. (c) (e)		14	630
	Perrigo Co.		21	1,240
	PSS World Medical Inc. (c) (e)		36	842
	Quality Systems Inc.		13	788
	RehabCare Group Inc. (c)		25	671
	Techne Corp.		12	756
	United Therapeutics Corp. (c)		19	1,062
	VCA Antech Inc. (c)		32	900
	Zoll Medical Corp. (c)		25	664
				19,810
INDUSTRIALS - 12.5%
	Bucyrus International Inc. - Class A		17	1,131
	Continental Airlines Inc. - Class B (c)		15	324
	Corrections Corp. of America (c)		41	805
	CoStar Group Inc. (c) (e)		26	1,074
	Forward Air Corp.		29	757
	Fuel Tech Inc. (c) (e)		42	338
	Hexcel Corp. (c)		42	606
	HUB Group Inc. - Class A (c) (e)		33	922
	Kaydon Corp.		20	753
	Knight Transportation Inc. (e)		58	1,222
	Lindsay Corp. (e)		13	524
	Regal-Beloit Corp.		20	1,193
	Tetra Tech Inc. (c)		34	789
	TransDigm Group Inc.		28	1,485
	Wabtec Corp.		22	927
	Watsco Inc.		12	659
				13,509
INFORMATION TECHNOLOGY - 27.6%
	Advanced Energy Industries Inc. (c)		59	974
	Alliance Data Systems Corp. (c) (e)		12	752
	Ansys Inc. (c)		18	796
	Aspen Technology Inc. (c)		65	664
	Blackboard Inc. (c)		18	748
	Cabot Microelectronics Corp. (c)		20	762
	Ciena Corp. (c) (e)		52	794
	Cogent Inc. (c)		73	746
	Coherent Inc. (c)		20	646
	CommVault Systems Inc. (c)		33	703
	Cymer Inc. (c)		13	488
	F5 Networks Inc. (c)		19	1,191
	Global Payments Inc.		18	808
	GSI Commerce Inc. (c)		29	807
	Harmonic Inc. (c)		100	628
	Hittite Microwave Corp. (c) (e)		19	840
	Informatica Corp. (c) (e)		54	1,441
	Knot Inc. (c)		65	507
	Lawson Software Inc. (c)		112	742
	Manhattan Associates Inc. (c)		31	787
	Micros Systems Inc. (c)		25	813
	Microsemi Corp. (c)		44	767
	Monolithic Power Systems Inc. (c)		29	649
	Nice Systems Ltd. - ADR (c)		30	947
	ON Semiconductor Corp. (c)		93	741
	Open Text Corp. (c)		19	882
	Pegasystems Inc.		3	94
	Polycom Inc. (c)		42	1,292
	Power Integrations Inc.		20	807
	Quest Software Inc. (c)		46	812
	SonicWALL Inc. (c)		85	737
	SRA International Inc. - Class A (c)		40	823
	SuccessFactors Inc. (c)		43	813
	Sybase Inc. (c)		27	1,242
	Tech Data Corp. (c)		18	747
	VistaPrint NV (c)		16	942
	Websense Inc. (c)		41	935
				29,867
MATERIALS - 3.0%
	Calgon Carbon Corp. (c) (e)		38	647
	Carpenter Technology Corp.		19	682
	Grief Inc.		19	1,067
	Intrepid Potash Inc. (c) (e)		26	800
				3,196
TELECOMMUNICATION SERVICES - 1.1%
	SBA Communications Corp. (c)		33	1,173
UTILITIES - 0.9%
	ITC Holdings Corp.		18	1,001
	Total Common Stocks (cost $89,695)			102,719
NON-U.S. GOVERNMENT AGENCY ASSET-BACKED SECURITIES - 0.0%
	Sigma Finance, Inc. (d) (f) (u)		$                289	12
	Total Non-U.S. Government Agency Asset-Backed Securities (cost $289)			12
SHORT TERM INVESTMENTS - 17.0%
Mutual Funds - 5.0%
	JNL Money Market Fund, 0.03% (a) (h)		5,382	5,382
Securities Lending Collateral - 12.0%
	Securities Lending Cash Collateral Fund LLC, 0.24% (a) (h)		10,007	10,007
	Securities Lending Liquidating Fund LLC, 0.38% (a) (h)		2,928	2,928
				12,935
	Total Short Term Investments (cost $18,317)			18,317
Total Investments - 112.1% (cost $108,301)				121,048
Other Assets and Liabilities, Net -  (12.1%)				(13,090)
Total Net Assets - 100%				$      107,958
JNL/Capital Guardian Global Balanced Fund
COMMON STOCKS - 64.1%
CONSUMER DISCRETIONARY - 7.0%
	Adidas AG		19	$          1,026
	Anhanguera Educacional Participacoes SA (c) (s) (u)		39	563
	Carnival Corp. (c)		3	124
	CBS Corp. - Class B		61	848
	Coach Inc.		7	292
	Daimler AG (c)		38	1,783
	Denso Corp.		43	1,275
	Discovery Communications Inc. - Class A (c)		13	433
	DreamWorks Animation SKG Inc. (c)		10	374
	Hennes & Mauritz AB - Class B		12	787
	Home Depot Inc.		19	624
	Hyundai Mobis		6	809
	Isuzu Motors Ltd. (c)		154	417
	Li & Fung Ltd.		120	590
	Li Ning Co. Ltd. (e)		275	995
	Lowe's Cos. Inc.		27	645
	Mazda Motor Corp.		245	689
	McDonald's Corp.		3	200
	Pirelli & C. SpA (c)		311	191
	PT Astra International Tbk		57	260
	SES SA		69	1,752
	Strayer Education Inc. (e)		2	463
	Target Corp.		76	3,977
	Time Warner Cable Inc.		4	219
	Urban Outfitters Inc. (c)		29	1,099
	Vivendi SA		11	293
	Walt Disney Co.		20	688
				21,416
CONSUMER STAPLES - 8.1%
	British American Tobacco Plc		6	74
	China Yurun Food Group Ltd.		176	537
	Coca-Cola Amatil Ltd.		27	279
	Coca-Cola Co.		5	270
	CP ALL PCL (c)		18	16
	Danone SA		19	1,157
	General Mills Inc.		3	212
	Hypermarcas SA (c) (s) (u)		52	636
	Imperial Tobacco Group Plc		12	369
	Kraft Foods Inc. - Class A		6	194
	KT&G Corp.		1	76
	KT&G Corp. - GDR (t)		4	119
	L'Oreal SA		31	3,292
	Magnit OAO - GDR (e)		9	174
	Marfrig Frigorificos e Comercio de Alimentos SA (s) (u)		105	1,189
	Metro AG		9	510
	Nestle SA		38	1,952
	PepsiCo Inc.		13	847
	Pernod-Ricard SA		16	1,337
	Philip Morris International Inc.		52	2,707
	Procter & Gamble Co.		48	3,018
	Shoppers Drug Mart Corp. (e)		6	241
	Tesco Plc		237	1,569
	United Spirits Ltd.		52	1,521
	Wal-Mart Stores Inc.		42	2,313
	Woolworths Ltd.		6	159
				24,768
ENERGY - 4.7%
	BG Group Plc		114	1,978
	BP Plc		71	673
	Cameco Corp.		40	1,082
	Cenovus Energy Inc.		14	358
	Chevron Corp.		8	569
	China Shenhua Energy Co. Ltd.		307	1,327
	EnCana Corp.		5	156
	Gazprom OAO - ADR		34	770
	Oil Search Ltd. (e)		29	160
	Paladin Energy Ltd. (c) (e)		26	95
	Reliance Industries Ltd.		30	714
	Royal Dutch Shell Plc - Class A		34	986
	Sasol Ltd.		36	1,492
	Schlumberger Ltd.		27	1,707
	SeaDrill Ltd.		11	247
	S-Oil Corp.		5	264
	Transocean Ltd. (c)		9	794
	Weatherford International Ltd. (c)		70	1,110
				14,482
FINANCIALS - 9.9%
	ACE Ltd.		3	162
	Allianz SE		4	439
	Allstate Corp.		41	1,325
	AON Corp.		8	346
	AXA SA (s) (u)		13	296
	Banco Bilbao Vizcaya Argentaria SA		15	206
	Banco Bradesco SA - ADR		45	831
	Banco Santander SA		38	501
	Bank of China Ltd.		528	282
	Bank of New York Mellon Corp.		3	93
	Barclays Plc (s) (u)		251	1,374
	Berkshire Hathaway Inc. - Class A (c)		-	1,340
	BlackRock Inc.		1	218
	BNP Paribas (s) (u)		13	984
	BOC Hong Kong Holdings Ltd.		85	202
	Bumiputra-Commerce Holdings Bhd		82	355
	CapitaMalls Asia Ltd. (c) (s) (u)		251	405
	Charles Schwab Corp. (e)		69	1,297
	China Overseas Land & Investment Ltd.		46	104
	CME Group Inc.		1	221
	DLF Ltd. (s) (u)		241	1,658
	Goldman Sachs Group Inc.		13	2,235
	Grupo Financiero Inbursa SA		440	1,530
	HDFC Bank Ltd.		13	547
	Housing Development & Infrastructure Ltd. (c)		13	85
	HSBC Holdings Plc		176	1,781
	ICICI Bank Ltd.		15	320
	Industrial & Commercial Bank of China		596	454
	Intact Financial Corp.		3	128
	Itau Unibanco Holding SA - ADR		15	325
	JPMorgan Chase & Co.		35	1,548
	Kotak Mahindra Bank Ltd.		6	93
	Link Real Estate Investment Trust		166	409
	Lloyds Banking Group Plc (c)		939	894
	MSCI Inc. (c)		38	1,361
	Muenchener Rueckversicherungs AG		4	710
	Plum Creek Timber Co. Inc.		12	463
	Progressive Corp. (c)		72	1,369
	Sampo Oyj		13	335
	Shinhan Financial Group Co. Ltd. (c)		9	365
	Shinsei Bank Ltd. (e)		200	242
	SinoPac Financial Holdings Co. Ltd. (c)		335	119
	State Street Corp.		3	149
	Sumitomo Mitsui Financial Group Inc. (s) (u)		11	377
	UBS AG (c) (s) (u)		16	258
	UniCredit SpA (c) (s) (u)		405	1,196
	Vienna Insurance Group		2	110
	Westpac Banking Corp. (e)		8	207
	Wharf Holdings Ltd. (e)		40	225
				30,474
HEALTH CARE - 6.7%
	Aetna Inc.		17	607
	Allergan Inc.		7	451
	Baxter International Inc.		32	1,851
	Bayer AG		13	892
	Celgene Corp. (c)		29	1,815
	Cerner Corp. (c)		21	1,820
	CSL Ltd.		3	113
	DaVita Inc. (c)		19	1,211
	Johnson & Johnson		15	998
	Medtronic Inc.		30	1,355
	Merck & Co. Inc.		30	1,132
	Novo-Nordisk A/S - Class B		8	597
	Roche Holding AG		20	3,199
	Shire Plc		73	1,606
	Shire Plc - ADR (e)		3	178
	Synthes Inc.		1	138
	Sysmex Corp.		9	522
	Teva Pharmaceutical Industries Ltd. - ADR		18	1,135
	UnitedHealth Group Inc.		29	944
				20,564
INDUSTRIALS - 4.3%
	Andritz AG (e)		9	528
	Assa Abloy AB		10	188
	BAE Systems Plc		74	414
	British Airways Plc (c) (e)		39	143
	China Railway Construction Corp. Ltd. (e)		472	582
	China Railway Group Ltd. (c) (e)		177	128
	Cia de Concessoes Rodoviarias		24	525
	Cummins Inc.		4	217
	Danaher Corp.		4	296
	East Japan Railway Co.		5	327
	Emerson Electric Co.		24	1,208
	FedEx Corp.		2	224
	First Solar Inc. (c) (e)		9	1,055
	Mitsubishi Corp.		18	459
	Mitsui OSK Lines Ltd.		99	711
	Norfolk Southern Corp.		29	1,626
	Parker Hannifin Corp.		3	175
	Siemens AG		21	2,106
	SMC Corp.		5	652
	Sumitomo Corp. (e)		123	1,412
	Suntech Power Holdings Co. Ltd. - ADR (c) (e)		9	126
				13,102
INFORMATION TECHNOLOGY - 11.1%
	Acer Inc.		490	1,448
	Adobe Systems Inc. (c)		34	1,196
	Agilent Technologies Inc. (c)		7	248
	Akamai Technologies Inc. (c) (e)		23	707
	Apple Inc. (c)		7	1,551
	ASML Holding NV (e)		42	1,516
	Autonomy Corp. Plc (c)		7	202
	Broadcom Corp. - Class A (c)		20	664
	BYD Co. Ltd. (c) (e)		19	184
	Cisco Systems Inc. (c)		69	1,788
	Delta Electronics Inc.		71	225
	Foxconn International Holdings Ltd. (c)		127	134
	Genpact Ltd. (c)		63	1,063
	Giant Interactive Group Inc. - ADR (c) (e)		12	89
	Google Inc. - Class A (c)		4	2,098
	HON HAI Precision Industry Co. Ltd.		1	4
	HON HAI Precision Industry Co. Ltd. - GDR		39	359
	International Business Machines Corp.		11	1,424
	Juniper Networks Inc. (c) (e)		91	2,783
	Keyence Corp.		1	249
	Maxim Integrated Products Inc.		20	396
	MediaTek Inc.		9	156
	Microchip Technology Inc. (e)		8	225
	Murata Manufacturing Co. Ltd.		17	966
	NetApp Inc. (c)		6	189
	Nidec Corp.		2	236
	Nintendo Co. Ltd. (e)		11	3,515
	Oracle Corp.		17	424
	Oracle Corp. Japan		12	570
	QUALCOMM Inc.		29	1,201
	Redecard SA		1	13
	Research In Motion Ltd. (c)		18	1,334
	Samsung Electronics Co. Ltd.		-	140
	Samsung Electronics Co. Ltd. - GDR		1	268
	SAP AG		28	1,374
	Taiwan Semiconductor Manufacturing Co. Ltd.		870	1,685
	Taiwan Semiconductor Manufacturing Co. Ltd. - ADR		12	125
	TDK Corp.		4	266
	Tencent Holdings Ltd. (e)		18	369
	Trend Micro Inc. (e)		36	1,255
	Visa Inc. - Class A		14	1,229
	Wintek Corp. (c)		67	61
				33,929
MATERIALS - 5.6%
	Air Liquide		4	467
	Allegheny Technologies Inc. (e)		30	1,641
	Ambuja Cements Ltd.		39	105
	Anglo American Plc (c)		10	414
	AngloGold Ashanti Ltd.		9	336
	Barrick Gold Corp.		27	1,047
	China Shanshui Cement Group Ltd.		549	307
	Cliffs Natural Resources Inc.		10	710
	CRH Plc		56	1,401
	Harmony Gold Mining Co. Ltd (e)		6	52
	HeidelbergCement AG		3	146
	Holcim Ltd. (c) (e)		17	1,251
	Inmet Mining Corp.		4	227
	Lafarge SA (s) (u)		9	656
	LG Chem Ltd.		4	857
	LG Chem Ltd. - GDR (c) (t)		2	170
	MMC Norilsk Nickel - ADR (c)		12	226
	Monsanto Co.		7	529
	Nucor Corp.		3	141
	Pretoria Portland Cement Co. Ltd.		68	319
	PT Indocement Tunggal Prakarsa Tbk		9	14
	Rio Tinto Plc		6	344
	Sappi Ltd. - ADR (c) (e)		15	66
	Sappi Ltd. (c)		115	513
	Semen Gresik Persero Tbk PT		241	193
	Shin-Etsu Chemical Co. Ltd.		3	180
	Stora Enso Oyj - Class R (c) (e)		22	166
	Sumitomo Chemical Co. Ltd.		287	1,403
	Syngenta AG		4	1,216
	Vale SA - ADR		3	69
	Vulcan Materials Co.		33	1,545
	Xstrata Plc (c)		19	366
				17,077
TELECOMMUNICATION SERVICES - 4.7%
	America Movil SAB de CV - ADR		7	357
	American Tower Corp. (c)		41	1,734
	Bezeq Israeli Telecommunication Corp. Ltd.		92	262
	Bharti Airtel Ltd.		106	738
	China Mobile Ltd. (e)		45	428
	France Telecom SA		69	1,651
	Koninklijke KPN NV		143	2,259
	Maxis Bhd		252	413
	MTN Group Ltd.		13	200
	SK Telecom Co. Ltd.		1	211
	SK Telecom Co. Ltd. - ADR		16	281
	SoftBank Corp. (e)		62	1,522
	Telefonos de Mexico SAB de CV - ADR (e)		119	1,861
	Telefonos de Mexico SAB de CV (e)		50	39
	Telekomunikacja Polska SA		39	223
	Telstra Corp. Ltd.		263	721
	Turk Telekomunikasyon AS		67	225
	Verizon Communications Inc.		38	1,166
				14,291
UTILITIES - 2.0%
	China Longyuan Power Group Corp. (c) (s) (u)		236	280
	Companhia Energetica de Minas Gerais - ADR		13	211
	E.ON AG		28	1,038
	Edison International		4	144
	Electricite de France SA		21	1,146
	Enersis SA - ADR (e)		6	128
	GDF Suez		16	618
	National Grid Plc		71	691
	Tanjong Plc		45	245
	Veolia Environnement (e)		44	1,523
				6,024
	Total Common Stocks (cost $177,473)			196,127
PREFERRED STOCKS - 0.6%
INFORMATION TECHNOLOGY - 0.0%
	ASAT Holdings Ltd., 13.00% (f) (s) (u)		7	-
MATERIALS - 0.1%
	Cia Vale do Rio Doce		6	167
TELECOMMUNICATION SERVICES - 0.1%
	Tele Norte Leste Participacoes SA		22	387
UTILITIES - 0.4%
	Cia Energetica de Sao Paulo		84	1,144
	Eletropaulo Metropolitana Eletricidade de Sao Paulo SA		10	228
				1,372
	Total Preferred Stocks (cost $1,668)			1,926
WARRANTS - 0.0%
	ASAT Holdings Ltd. 07/24/11 (c) (f) (s) (u)		-	-
	Total Warrants (cost $0)			-
NON-U.S. GOVERNMENT AGENCY ASSET-BACKED SECURITIES - 0.0%
	Sigma Finance, Inc. (d) (f) (u)		$                826	35
	Total Non-U.S. Government Agency Asset-Backed Securities (cost $826)			35
CORPORATE BONDS AND NOTES - 6.4%
CONSUMER DISCRETIONARY - 0.5%
	Altegrity Inc., 10.50%, 11/01/15 (s) (u)		200	188
	Charter Communications Operating LLC, 8.38%, 04/30/14 (k) (s) (u)		200	206
	Comcast Corp., 5.88%, 02/15/18		250	267
	Daimler Finance North America LLC, 5.88%, 03/15/11		355	369
	Time Warner Inc., 5.88%, 11/15/16 (e)		450	492
	Volvo AB, 5.00%, 05/31/17	EUR	150	200
				1,722
CONSUMER STAPLES - 0.5%
	Anheuser-Busch InBev NV, 8.63%, 01/30/17	EUR	425	733
	BAT International Finance Plc, 8.13%, 11/15/13 (e) (s) (u)		150	176
	Imperial Tobacco Finance Plc, 8.38%, 02/17/16	EUR	250	415
	Tesco Plc, 5.50%, 01/13/33	GBP	100	149
				1,473
ENERGY - 0.0%
	Evergreen Energy Inc., 8.00%, 08/01/12 (s) (u)		60	25
	Petrobras International Finance Co., 6.88%, 01/20/20 (e)		85	88
				113
FINANCIALS - 2.8%
	Allied Irish Banks Plc, 12.50%, 06/25/19	EUR	250	396
	Bank of America Corp., 5.75%, 12/01/17		480	492
	Barclays Bank Plc, 3.90%, 04/07/15		475	475
	CNA Financial Corp., 7.35%, 11/15/19		500	523
	DBS Bank Ltd. Singapore, 7.88%, 04/15/10 (s) (u)		150	150
	Depfa ACS Bank, 3.25%, 02/15/12	EUR	550	749
	Eurohypo AG, 4.50%, 01/21/13	EUR	100	145
	Ford Motor Credit Co. LLC, 8.00%, 12/15/16		175	184
	Goldman Sachs Group Inc., 7.50%, 02/15/19 (e)		300	343
	Liberty Mutual Group Inc., 7.50%, 08/15/36 (s) (u)		350	338
	Lloyds TSB Bank Plc, 6.38%, 06/17/16	EUR	500	733
	Merrill Lynch & Co. Inc., 4.63%, 09/14/18	EUR	250	322
	Muenchener Rueckversicherungs AG, 6.75%, 06/21/23	EUR	150	221
	Nielsen Finance LLC, 10.00%, 08/01/14 (e)		200	210
	ProLogis, 7.38%, 10/30/19 (e)		600	616
	Rodamco Europe Finance BV, 3.75%, 12/12/12	EUR	200	279
	Royal Bank of Scotland Plc, 4.38%, 07/13/16	EUR	250	348
	Royal Bank of Scotland Plc, 6.93%, 04/09/18	EUR	200	278
	Societe Generale, 5.75%, 04/20/16 (s) (u)		150	159
	Standard Chartered Bank, 6.40%, 09/26/17 (s) (u)		300	317
	UBS AG Stamford, 3.88%, 01/15/15		300	297
	UniCredito Luxemburg Finance SA, 6.00%, 10/31/17 (s) (u)		150	152
	Westfield Europe Finance Plc., 3.63%, 06/27/12	EUR	400	545
	Westfield Europe Finance Plc., 5.50%, 06/27/17	EUR	150	233
				8,505
HEALTH CARE - 0.7%
	AstraZeneca Plc, 5.90%, 09/15/17		250	279
	GlaxoSmithKline Capital Inc., 5.65%, 05/15/18		200	217
	HCA Inc., 9.25%, 11/15/16		75	80
	Pfizer Inc., 6.20%, 03/15/19		400	452
	Roche Holdings Inc., 6.00%, 03/01/19 (l) (s) (u)		400	442
	Schering-Plough Corp., 5.38%, 10/01/14	EUR	350	524
	Tenet Healthcare Corp., 8.88%, 07/01/19 (s) (u)		200	216
				2,210
INDUSTRIALS - 0.1%
	General Electric Co., 5.00%, 02/01/13 (e)		200	217
INFORMATION TECHNOLOGY - 0.1%
	NXP BV, 7.88%, 10/15/14		200	196
TELECOMMUNICATION SERVICES - 1.0%
	AT&T Inc., 5.80%, 02/15/19		600	641
	AT&T Wireless Services Inc., 8.13%, 05/01/12		250	282
	France Telecom SA, 7.75%, 03/01/11 (l)		150	159
	France Telecom SA, 7.50%, 03/14/11	GBP	150	240
	Koninklijke KPN NV, 4.75%, 01/17/17	EUR	200	284
	Telecom Italia Finance SA, 7.75%, 01/24/33	EUR	150	239
	Telecom Italia SpA, 8.25%, 03/21/16	EUR	150	245
	Telefonica Emisiones SAU, 5.88%, 07/15/19 (e)		400	428
	Vodafone Group Plc, 4.75%, 06/14/16	EUR	350	507
				3,025
UTILITIES - 0.7%
	Abu Dhabi National Energy Co., 6.17%, 10/25/17		300	306
	AES Corp., 7.75%, 10/15/15		125	127
	AES Panama SA, 6.35%, 12/12/16 (s) (u)		300	306
	E.ON International Finance BV, 5.80%, 04/30/18 (s) (u)		500	541
	Edison Mission Energy, 7.75%, 06/15/16 (e)		150	110
	National Grid Plc, 6.30%, 08/01/16		300	334
	Veolia Environnement, 5.25%, 06/03/13 (e)		525	564
				2,288
	Total Corporate Bonds and Notes (cost $19,390)			19,749
GOVERNMENT AND AGENCY OBLIGATIONS - 25.5%
GOVERNMENT SECURITIES - 22.4%
Sovereign - 15.8%
	Argentina Government International Bond, 7.00%, 10/03/15 (f)		550	458
	Brazil Notas do Tesouro Nacional Series B, 6.00%, 05/15/17	BRL	580	625
	Brazil Notas do Tesouro Nacional Series F, 10.00%, 01/01/17	BRL	410	213
	Brazilian Government International Bond, 12.50%, 01/05/16	BRL	300	192
	Brazilian Government International Bond, 12.50%, 01/05/22	BRL	250	164
	Canadian Government Bond, 4.50%, 06/01/15	CAD	1,750	1,855
	Colombia Government International Bond, 12.00%, 10/22/15	COP	231,000	146
	Colombia Government International Bond, 9.85%, 06/28/27	COP	35,000	21
	Croatia Government International Bond, 6.75%, 11/05/19 (s) (u)		625	688
	Denmark Government Bond, 5.00%, 11/15/13	DKK	11,975	2,401
	Dominican Republic International Bond, 8.63%, 04/20/27 (s) (u)		150	159
	France Government Bond, 4.25%, 10/25/23	EUR	550	783
	Gabonese Republic, 8.20%, 12/12/17		200	220
	German Treasury Bond, 4.00%, 01/04/37	EUR	100	138
	Hellenic Republic Government Bond, 6.10%, 08/20/15	EUR	335	451
	Hellenic Republic Government Bond, 6.00%, 07/19/19	EUR	600	781
	Hungary Government Bond, 5.50%, 02/12/14	HUF	100,000	499
	Hungary Government Bond, 8.00%, 02/12/15	HUF	74,500	407
	Indonesia Government Bond, 12.50%, 03/15/13	IDR	250,000	31
	Indonesia Government Bond, 11.00%, 10/15/14	IDR	65,000	8
	Indonesia Government Bond, 9.50%, 06/15/15	IDR	1,965,000	227
	Indonesia Government Bond, 10.75%, 05/15/16	IDR	145,000	18
	Indonesia Government Bond, 12.80%, 06/15/21	IDR	95,000	13
	Ireland Government Bond, 5.90%, 10/18/19	EUR	550	827
	Italy Buoni Poliennali Del Tesoro, 5.00%, 02/01/12	EUR	825	1,187
	Italy Buoni Poliennali Del Tesoro, 3.75%, 12/15/13	EUR	700	997
	Italy Buoni Poliennali Del Tesoro, 4.50%, 03/01/19	EUR	1,700	2,444
	Japan Government Bond, 1.10%, 03/21/11	JPY	140,000	1,511
	Japan Government Bond, 1.50%, 09/20/14	JPY	55,000	614
	Japan Government Bond, 1.70%, 09/20/17	JPY	205,000	2,305
	Japan Government Bond, 2.30%, 12/20/35	JPY	50,000	536
	Korea Treasury Bond, 4.25%, 09/10/14	KRW	2,050,000	1,801
	Korea Treasury Bond, 5.75%, 09/10/18	KRW	100,000	93
	Malaysia Government Bond, 5.09%, 04/30/14	MYR	2,325	754
	Malaysia Government Bond, 3.74%, 02/27/15	MYR	200	61
	Mexican Bonos, 9.50%, 12/18/14	MXN	20,000	1,798
	Mexican Bonos, 7.75%, 12/14/17	MXN	3,800	313
	Netherlands Government Bond, 3.25%, 07/15/15	EUR	1,250	1,762
	Norway Government Bond, 6.50%, 05/15/13	NOK	7,950	1,487
	Poland Government Bond, 5.75%, 04/25/14	PLN	5,250	1,889
	Poland Government International Bond, 5.25%, 10/25/17	PLN	1,150	402
	Queensland Treasury Corp., 6.00%, 10/14/15	AUD	3,500	3,218
	Republic of Argentina, 0.39%, 08/03/12 (i)		325	110
	Republic of Deutschland, 3.75%, 07/04/13	EUR	250	362
	Republic of Deutschland, 4.25%, 07/04/14	EUR	1,570	2,320
	Republic of Deutschland, 3.25%, 07/04/15	EUR	825	1,169
	Republic of Deutschland, 4.25%, 07/04/18	EUR	2,250	3,333
	Republic of Deutschland, 4.75%, 07/04/34	EUR	950	1,460
	Republic of Iraq, 5.80%, 01/15/28		500	402
	Republic of Turkey, 7.50%, 07/14/17		125	142
	Republic of Turkey, 7.50%, 11/07/19		150	170
	Republic of Venezuela, 5.38%, 08/07/10		115	114
	Republic of Venezuela, 9.38%, 01/13/34		260	190
	Singapore Government Bond, 3.75%, 09/01/16	SGD	1,000	786
	Spanish Government Bond, 4.40%, 01/31/15	EUR	400	581
	Sweden Government Bond, 6.75%, 05/05/14	SEK	5,250	856
	Thailand Government Bond, 5.25%, 05/12/14	THB	1,650	55
	Thailand Government Bond, 3.63%, 05/22/15	THB	5,425	169
	Turkey Government International Bond, 16.00%, 03/07/12		200	148
	Turkey Government International Bond, 6.75%, 05/30/40		150	147
	United Kingdom Treasury Bond, 4.50%, 03/07/19	GBP	375	597
	United Kingdom Treasury Bond, 4.25%, 06/07/32	GBP	300	441
	Venezuela Government International Bond, 9.25%, 09/15/27		525	411
				48,460
Treasury Inflation Index Securities - 0.6%
	Republic of Turkey Inflation Indexed Note, 10.00%, 02/15/12 (r)	TRY	291	222
	U.S. Treasury Inflation Indexed Note, 2.00%, 07/15/14 (r)		1,466	1,559
				1,781
U.S. Treasury Securities - 6.0%
	U.S. Treasury Bond, 7.50%, 11/15/16		1,400	1,768
	U.S. Treasury Bond, 5.25%, 02/15/29		1,000	1,088
	U.S. Treasury Bond, 4.38%, 02/15/38		850	808
	U.S. Treasury Note, 4.50%, 02/28/11		2,500	2,593
	U.S. Treasury Note, 2.75%, 02/28/13		4,500	4,657
	U.S. Treasury Note, 4.25%, 08/15/13		4,100	4,437
	U.S. Treasury Note, 4.25%, 11/15/13 (e)		2,450	2,654
	U.S. Treasury Note, 3.50%, 02/15/18		400	401
				18,406
U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES - 3.1%
Federal Home Loan Mortgage Corp. - 0.7%
	Federal Home Loan Mortgage Corp., 5.00%, 12/01/39		1,989	2,056
Federal National Mortgage Association - 2.1%
	Federal National Mortgage Association, 5.50%, 03/01/37		854	901
	Federal National Mortgage Association, 6.00%, 07/01/38		1,856	1,975
	Federal National Mortgage Association, 5.50%, 01/01/39		3,424	3,613
				6,489
Government National Mortgage Association - 0.3%
	Government National Mortgage Association, 4.50%, 11/20/39		843	852
	Total Government and Agency Obligations (cost $77,344)			78,044
SHORT TERM INVESTMENTS - 9.9%
Mutual Funds - 2.9%
	JNL Money Market Fund, 0.03% (a) (h)		8,887	8,887
Securities Lending Collateral - 7.0%
	Securities Lending Cash Collateral Fund LLC, 0.24% (a) (h)		13,694	13,694
	Securities Lending Liquidating Fund LLC, 0.38% (a) (h)		7,636	7,636
				21,330
	Total Short Term Investments (cost $30,217)			30,217
Total Investments - 106.5% (cost $306,918)				326,098
Other Assets and Liabilities, Net -  (6.5%)				(19,951)
Total Net Assets - 100%				$      306,147

JNL/Capital Guardian Global Diversified Research Fund
COMMON STOCKS - 96.6%
CONSUMER DISCRETIONARY - 8.5%
	Carnival Corp. (c)	29	$          1,128
	Daimler AG (c)	51	2,392
	Denso Corp.	64	1,915
	Discovery Communications Inc. - Class A (c)	33	1,122
	DreamWorks Animation SKG Inc. (c)	48	1,903
	Gannett Co. Inc.	83	1,366
	Hyundai Mobis	3	398
	Isuzu Motors Ltd. (c)	936	2,533
	Lowe's Cos. Inc.	102	2,472
	Mazda Motor Corp.	434	1,221
	McDonald's Corp.	34	2,295
	Pirelli & C. SpA (c)	3,401	2,090
	PT Astra International Tbk	105	481
	Strayer Education Inc. (e)	8	1,997
	Target Corp.	82	4,297
	Time Warner Cable Inc.	37	1,962
	Urban Outfitters Inc. (c) (e)	51	1,943
			31,515
CONSUMER STAPLES - 9.1%
	Coca-Cola Amatil Ltd.	282	2,915
	Coca-Cola Co.	34	1,842
	Danone SA	59	3,568
	General Mills Inc.	38	2,711
	Imperial Tobacco Group Plc	83	2,522
	Kraft Foods Inc. - Class A	86	2,613
	PepsiCo Inc.	54	3,566
	Pernod-Ricard SA	66	5,642
	Philip Morris International Inc.	27	1,403
	Procter & Gamble Co.	53	3,372
	Wal-Mart Stores Inc.	29	1,601
	Woolworths Ltd.	64	1,644
			33,399
ENERGY - 11.0%
	BG Group Plc	538	9,303
	Cameco Corp.	63	1,731
	Cenovus Energy Inc.	99	2,589
	Chevron Corp.	70	5,331
	China Shenhua Energy Co. Ltd.	922	3,984
	Gazprom OAO - ADR	174	4,050
	Oil Search Ltd. (e)	225	1,231
	Reliance Industries Ltd.	48	1,149
	Royal Dutch Shell Plc - Class A	156	4,521
	Sasol Ltd.	37	1,542
	Schlumberger Ltd.	36	2,278
	SeaDrill Ltd. (e)	48	1,128
	Transocean Ltd. (c)	10	821
	Weatherford International Ltd. (c)	65	1,028
			40,686
FINANCIALS - 19.6%
	Allstate Corp.	55	1,764
	AON Corp.	42	1,794
	AXA SA (s) (u)	76	1,687
	Banco Santander SA	139	1,848
	Bank of China Ltd.	6,845	3,650
	Barclays Plc (s) (u)	247	1,350
	BlackRock Inc.	9	1,960
	BNP Paribas (s) (u)	60	4,593
	Bumiputra-Commerce Holdings Bhd	270	1,164
	Charles Schwab Corp. (e)	132	2,463
	CME Group Inc.	8	2,371
	DLF Ltd. (s) (u)	125	860
	Goldman Sachs Group Inc.	28	4,778
	Grupo Financiero Inbursa SA	273	949
	HSBC Holdings Plc	329	3,332
	Industrial & Commercial Bank of China (e)	5,477	4,176
	Intact Financial Corp.	35	1,540
	Itau Unibanco Holding SA - ADR (e)	72	1,583
	JPMorgan Chase & Co.	54	2,394
	Link Real Estate Investment Trust	940	2,317
	Lloyds Banking Group Plc (c)	1,611	1,535
	Muenchener Rueckversicherungs AG	20	3,242
	Plum Creek Timber Co. Inc.	25	953
	Progressive Corp. (c)	127	2,426
	Shinhan Financial Group Co. Ltd. (c)	55	2,161
	Shinsei Bank Ltd. (e)	1,477	1,785
	State Street Corp.	46	2,058
	Sumitomo Mitsui Financial Group Inc. (s) (u)	46	1,520
	UBS AG (c) (s) (u)	162	2,639
	UniCredit SpA (c) (s) (u)	341	1,007
	Westpac Banking Corp. (e)	125	3,191
	Wharf Holdings Ltd. (e)	551	3,105
			72,195
HEALTH CARE - 9.7%
	Allergan Inc.	53	3,482
	Baxter International Inc.	34	1,973
	Bayer AG	37	2,513
	Celgene Corp. (c)	37	2,280
	Cerner Corp. (c)	19	1,625
	CSL Ltd.	37	1,237
	DaVita Inc. (c)	41	2,599
	Johnson & Johnson	26	1,689
	Medtronic Inc.	72	3,251
	Merck & Co. Inc.	74	2,779
	Novo-Nordisk A/S - Class B	36	2,786
	Roche Holding AG	30	4,819
	Shire Plc	166	3,669
	Synthes Inc.	10	1,201
			35,903
INDUSTRIALS - 8.0%
	Assa Abloy AB	114	2,225
	BAE Systems Plc	238	1,342
	British Airways Plc (c) (e)	368	1,357
	China Railway Construction Corp. Ltd.	938	1,156
	China Railway Group Ltd. (c) (e)	1,715	1,237
	Cia de Concessoes Rodoviarias	39	853
	Cummins Inc.	41	2,509
	Danaher Corp.	23	1,798
	East Japan Railway Co.	24	1,676
	Emerson Electric Co.	27	1,344
	FedEx Corp.	25	2,316
	First Solar Inc. (c) (e)	6	760
	Mitsubishi Corp.	47	1,226
	Mitsui OSK Lines Ltd.	284	2,038
	Norfolk Southern Corp.	34	1,889
	Parker Hannifin Corp.	24	1,521
	Siemens AG	31	3,089
	Sumitomo Corp.	101	1,160
			29,496
INFORMATION TECHNOLOGY - 13.8%
	Acer Inc.	600	1,772
	Adobe Systems Inc. (c)	58	2,044
	Apple Inc. (c)	10	2,279
	ASML Holding NV - NYS	14	506
	ASML Holding NV (e)	48	1,730
	Autonomy Corp. Plc (c)	47	1,286
	Cisco Systems Inc. (c)	86	2,244
	Foxconn International Holdings Ltd. (c)	1,494	1,576
	Google Inc. - Class A (c)	6	3,289
	Juniper Networks Inc. (c)	91	2,789
	Keyence Corp.	12	2,777
	Maxim Integrated Products Inc.	126	2,451
	Murata Manufacturing Co. Ltd.	30	1,704
	NetApp Inc. (c)	53	1,729
	Nidec Corp.	17	1,768
	Nintendo Co. Ltd. (e)	7	2,444
	Oracle Corp.	71	1,827
	Oracle Corp. Japan	22	1,020
	QUALCOMM Inc.	35	1,457
	Research In Motion Ltd. (c)	14	1,037
	Samsung Electronics Co. Ltd. - GDR	7	2,451
	SAP AG	49	2,376
	Taiwan Semiconductor Manufacturing Co. Ltd. - ADR	124	1,301
	TDK Corp.	28	1,836
	Trend Micro Inc.	57	1,981
	Visa Inc. - Class A	37	3,323
			50,997
MATERIALS - 9.5%
	Air Products & Chemicals Inc.	27	1,960
	Allegheny Technologies Inc.	32	1,744
	Anglo American Plc (c)	63	2,748
	Barrick Gold Corp.	40	1,530
	Cliffs Natural Resources Inc.	47	3,356
	CRH Plc	76	1,890
	HeidelbergCement AG	22	1,210
	Holcim Ltd. (c)	11	820
	Inmet Mining Corp.	41	2,382
	LG Chem Ltd. - GDR (c) (t)	21	2,221
	Monsanto Co.	16	1,157
	Rio Tinto Plc	54	3,198
	Shin-Etsu Chemical Co. Ltd.	31	1,801
	Stora Enso Oyj - Class R (c) (e)	243	1,851
	Sumitomo Chemical Co. Ltd.	406	1,985
	Vale SA - ADR	73	2,038
	Xstrata Plc (c)	160	3,035
			34,926
TELECOMMUNICATION SERVICES - 5.4%
	American Tower Corp. (c)	158	6,732
	Bharti Airtel Ltd.	250	1,740
	France Telecom SA	97	2,328
	Koninklijke KPN NV	160	2,527
	Maxis Bhd	400	654
	MTN Group Ltd.	138	2,122
	SoftBank Corp.	94	2,325
	Telstra Corp. Ltd.	546	1,497
			19,925
UTILITIES - 2.0%
	E.ON AG	34	1,267
	Edison International	48	1,637
	GDF Suez	36	1,391
	National Grid Plc	113	1,098
	Veolia Environnement (e)	60	2,093
			7,486
	Total Common Stocks (cost $317,328)		356,528
NON-U.S. GOVERNMENT AGENCY ASSET-BACKED SECURITIES - 0.0%
	Sigma Finance, Inc. (d) (f) (u)	$                810	34
	Total Non-U.S. Government Agency Asset-Backed Securities (cost $810)		34
CORPORATE BONDS AND NOTES - 0.1%
ENERGY - 0.1%
	Seadrill Ltd., 3.63%, 11/08/12	300	301
	Total Corporate Bonds and Notes (cost $161)		301
SHORT TERM INVESTMENTS - 9.8%
Mutual Funds - 3.6%
	JNL Money Market Fund, 0.03% (a) (h)	13,277	13,277
Securities Lending Collateral - 6.2%
	Securities Lending Cash Collateral Fund LLC, 0.24% (a) (h)	17,183	17,183
	Securities Lending Liquidating Fund LLC, 0.38% (a) (h)	5,627	5,627
			22,810
	Total Short Term Investments (cost $36,087)		36,087
Total Investments - 106.5% (cost $354,386)			392,950
Other Assets and Liabilities, Net -  (6.5%)			(24,011)
Total Net Assets - 100%			$      368,939
JNL/Capital Guardian International Small Cap Fund
COMMON STOCKS - 85.2%
CONSUMER DISCRETIONARY - 13.9%
	361 Degrees International Ltd. (e) (s) (u)	1,922	$          1,508
	ABC-Mart Inc.	58	1,849
	ANTA Sports Products Ltd.	203	335
	Bellway Plc	56	656
	Billabong International Ltd. (e)	113	1,171
	Bloomsbury Publishing Plc	200	346
	Cheil Worldwide Inc.	4	1,072
	DSG International Plc (c)	2,558	1,357
	Eaga Plc	363	791
	ElringKlinger AG	31	793
	Exedy Corp.	63	1,534
	Future Plc	494	142
	Greene King Plc	170	1,153
	Groupe Aeroplan Inc.	90	948
	Hankook Tire Co. Ltd.	34	649
	Hellenic Duty Free Shops SA	50	420
	Inchcape Plc (c)	4,298	1,923
	JB Hi-Fi Ltd.	44	819
	LG Fashion Corp.	36	873
	Marston's Plc	511	710
	MegaStudy Co. Ltd.	3	441
	Mothercare Plc	59	541
	Rodriguez Group (c) (f) (u)	9	11
	SJM Holdings Ltd.	1,094	723
	Sumitomo Rubber Industries Inc.	162	1,428
	Xebio Co. Ltd.	30	601
	Yell Group Plc (c) (s) (u)	1,568	977
			23,771
CONSUMER STAPLES - 10.1%
	Ain Pharmaciez Inc.	57	1,677
	Barry Callebaut AG (c)	-	313
	BaWang International Group Holding Ltd. (c) (e) (s) (u)	1,970	1,474
	C&C Group Plc	732	3,308
	Davide Campari-Milano SpA	433	4,634
	MARR SpA (e)	65	598
	Olam International Ltd. (e) (s) (u)	511	946
	Pigeon Corp.	56	2,099
	Sundrug Co. Ltd. (e)	92	2,180
	Tassal Group Ltd. (e)	55	79
			17,308
ENERGY - 2.7%
	Flex LNG Ltd. (c) (u)	649	653
	Golar LNG Energy Ltd. (c)	420	659
	Petroplus Holdings AG (c)	97	1,793
	SeaDrill Ltd.	18	415
	Uranium One Inc. (c) (e)	423	1,115
			4,635
FINANCIALS - 11.7%
	Aareal Bank AG (c)	14	306
	Aozora Bank Ltd.	1,486	2,098
	Ascendas Real Estate Investment Trust (e)	540	741
	Banque Cantonale Vaudoise	1	392
	Bolsas y Mercados Espanoles SA (e)	26	689
	CapitaCommercial Trust (e) (s) (u)	1,264	976
	CapitaMall Trust (s) (u)	239	303
	Close Brothers Group Plc	81	953
	Credit Saison Co. Ltd.	26	408
	Grainger Plc	270	553
	Hopewell Holdings Ltd.	162	478
	Industrial Alliance Insurance & Financial Services Inc.	39	1,334
	kabu.com Securities Co. Ltd.	95	513
	Korean Reinsurance Co. (c)	194	1,713
	Laurentian Bank of Canada	46	1,944
	Liberty International Plc (s) (u)	9	68
	Liontrust Asset Management Plc	18	27
	Paragon Group Companies Plc	765	1,573
	Shaftesbury Plc (s) (u)	142	831
	Sumitomo Real Estate Sales Co. Ltd. (e)	40	1,737
	Tokyu Livable Inc.	224	2,039
	Yanlord Land Group Ltd. (e)	263	352
			20,028
HEALTH CARE - 4.6%
	As One Corp.	21	374
	Biovail Corp.	22	365
	Hogy Medical Co. Ltd. (e)	34	1,586
	Nestor Healthcare Group Plc	377	318
	Omega Pharma SA	20	1,002
	Sysmex Corp. (e)	71	4,185
			7,830
INDUSTRIALS - 18.7%
	Aecon Group Inc.	87	1,164
	Amano Corp.	75	683
	Andritz AG (e)	27	1,596
	Atkins (WS) Plc	52	493
	BFI Canada Ltd.	40	688
	Brunel International NV	40	1,386
	Chiyoda Corp. (e)	160	1,588
	Cosel Co. Ltd.	131	1,890
	Fenner Plc	141	457
	Fuji Machine Manufacturing Co. Ltd.	18	315
	Glory Ltd.	16	407
	Hastie Group Ltd. (e)	442	618
	Kaba Holding AG	2	449
	Kintetsu World Express Inc.	44	1,146
	MISUMI Group Inc. (e)	123	2,532
	Miura Co. Ltd. (e)	131	3,407
	NovaCast AB - Class B (c) (u)	19	23
	Panalpina Welttransport Holding AG	16	1,396
	Pfleiderer AG (c)	26	172
	Robert Walters Plc	69	237
	Saft Groupe SA	21	818
	Sankyu Inc.	393	1,938
	Seco Tools AB - Class B	74	953
	Seek Ltd. (e)	500	3,681
	SMA Solar Technology SA (e)	9	1,169
	Spirax-Sarco Engineering Plc	38	807
	Tocalo Co. Ltd. (e)	20	409
	Uponor Oyj (e)	35	635
	WestJet Airlines Ltd. (c)	70	940
			31,997
INFORMATION TECHNOLOGY - 9.9%
	ARM Holdings Plc	211	762
	CSR Plc (c)	55	379
	Dai-ichi Seiko Co. Ltd. (e)	26	844
	Dialog Semiconductor Plc (c)	90	1,395
	Halma Plc	120	457
	Hamamatsu Photonics KK	128	3,613
	Kingboard Laminates Holdings Ltd.	1,204	1,050
	Kontron AG	176	1,722
	Laird Plc	181	339
	Premier Farnell Plc	349	1,193
	Rotork Plc	41	880
	VTech Holdings Ltd.	79	855
	Wacom Co. Ltd. (e)	1	1,747
	Yamatake Corp. (e)	77	1,803
			17,039
MATERIALS - 12.8%
	Aquarius Platinum Ltd. (c)	120	761
	Banro Corp. (c)	131	279
	Centerra Gold Inc. (c)	70	922
	Centerra Gold Inc. (c) (f) (s) (u)	71	928
	China Shanshui Cement Group Ltd.	2,896	1,619
	Delta Plc	142	411
	Farallon Mining Ltd. (c)	750	450
	Fronteer Development Group Inc. (c)	63	324
	Gem Diamonds Ltd. (c) (s) (u)	222	837
	Hitachi Metals Ltd.	58	610
	Iluka Resources Ltd. (c)	824	3,311
	Incitec Pivot Ltd.	217	690
	Inmet Mining Corp.	28	1,621
	Katanga Mining Ltd. (c)	74	56
	Labrador Iron Ore Royalty Income Fund	61	3,234
	Minefinders Corp. (c) (e)	160	1,475
	Namakwa Diamonds Ltd. (c)	95	46
	Noranda Income Fund	172	507
	Petropavlovsk Plc	112	2,016
	Platmin Ltd. (c)	702	927
	Platmin Ltd. (c) (e)	472	637
	Resin Systems Inc. (c)	884	265
			21,926
TELECOMMUNICATION SERVICES - 0.7%
	Freenet AG (c)	102	1,267
UTILITIES - 0.1%
	Elia System Operator SA (e)	6	232
	Total Common Stocks (cost $131,525)		146,033
PREFERRED STOCKS - 0.1%
HEALTH CARE - 0.1%
	Biotest AG	4	182
	Total Preferred Stocks (cost $244)		182
INVESTMENT FUNDS - 3.9%
	SPDR S&P International Small Cap ETF (e)	250	6,685
	Total Investment Funds (cost $6,319)		6,685
RIGHTS - 0.0%
	Golar LNG Energy Ltd. (c) (f)	44	56
	Total Rights (cost $0)		56
WARRANTS - 0.1%
	Banro Corp., 09/17/11 (c)	22	14
	Minefinders Corp., 12/31/11 (c)	19	87
	Peter Hambro Mining Plc, 06/09/10 (c)	10	16
	Total Warrants (cost $87)		117
NON-U.S. GOVERNMENT AGENCY ASSET-BACKED SECURITIES - 0.0%
	Sigma Finance, Inc. (d) (f) (u)	$                212	9
	Total Non-U.S. Government Agency Asset-Backed Securities (cost $212)		9
CORPORATE BONDS AND NOTES - 0.2%
CONSUMER STAPLES - 0.2%
	Olam International Ltd., 1.00%, 07/03/13	300	323
	Total Corporate Bonds and Notes (cost $263)		323
SHORT TERM INVESTMENTS - 22.1%
Mutual Funds - 10.1%
	JNL Money Market Fund, 0.03% (a) (h)	17,217	17,217
Securities Lending Collateral - 12.0%
	Securities Lending Cash Collateral Fund LLC, 0.24% (a) (h)	18,866	18,866
	Securities Lending Liquidating Fund LLC, 0.38% (a) (h)	1,665	1,665
			20,531
	Total Short Term Investments (cost $37,748)		37,748
Total Investments - 111.6% (cost $176,398)			191,153
Other Assets and Liabilities, Net -  (11.6%)			(19,833)
Total Net Assets - 100%			$      171,320
JNL/Capital Guardian U.S. Growth Equity Fund
COMMON STOCKS - 95.2%
CONSUMER DISCRETIONARY - 12.6%
	Coach Inc.	258	$        10,176
	DreamWorks Animation SKG Inc. (c)	238	9,383
	Lowe's Cos. Inc.	175	4,252
	Omnicom Group Inc.	91	3,539
	Scripps Networks Interactive Inc.	79	3,490
	Strayer Education Inc. (e)	40	9,838
	Target Corp.	319	16,764
	Time Warner Cable Inc.	79	4,233
	Time Warner Inc.	67	2,099
	Urban Outfitters Inc. (c)	293	11,135
	Viacom Inc. - Class B (c)	319	10,971
			85,880
CONSUMER STAPLES - 9.7%
	Alberto-Culver Co.	108	2,832
	Avon Products Inc.	160	5,419
	Colgate-Palmolive Co.	50	4,289
	Costco Wholesale Corp.	68	4,042
	PepsiCo Inc.	330	21,846
	Philip Morris International Inc.	184	9,571
	Procter & Gamble Co.	110	6,953
	Wal-Mart Stores Inc.	202	11,242
			66,194
ENERGY - 4.4%
	Baker Hughes Inc. (e)	25	1,157
	Diamond Offshore Drilling Inc. (e)	14	1,226
	Schlumberger Ltd.	267	16,912
	Transocean Ltd. (c)	39	3,395
	Weatherford International Ltd. (c)	490	7,771
			30,461
FINANCIALS - 7.7%
	Bank of New York Mellon Corp.	94	2,893
	Berkshire Hathaway Inc. - Class A (c)	-	3,654
	Charles Schwab Corp. (e)	619	11,573
	Goldman Sachs Group Inc.	89	15,152
	JPMorgan Chase & Co.	229	10,248
	Progressive Corp. (c)	357	6,809
	RenaissanceRe Holdings Ltd.	34	1,930
			52,259
HEALTH CARE - 19.2%
	Aetna Inc.	100	3,493
	Allergan Inc.	145	9,478
	Baxter International Inc.	286	16,616
	Celgene Corp. (c)	343	21,221
	Cerner Corp. (c) (e)	283	24,038
	DaVita Inc. (c)	201	12,731
	Medtronic Inc.	353	15,887
	Merck & Co. Inc.	81	3,037
	Shire Plc - ADR (e)	196	12,935
	Teva Pharmaceutical Industries Ltd. - ADR	107	6,731
	UnitedHealth Group Inc.	140	4,557
			130,724
INDUSTRIALS - 7.3%
	Cummins Inc.	27	1,654
	Danaher Corp. (e)	108	8,606
	Emerson Electric Co.	74	3,715
	FedEx Corp.	93	8,705
	First Solar Inc. (c) (e)	83	10,192
	Illinois Tool Works Inc.	149	7,076
	Iron Mountain Inc. (c)	122	3,343
	Jacobs Engineering Group Inc. (c)	39	1,740
	WW Grainger Inc. (e)	42	4,552
			49,583
INFORMATION TECHNOLOGY - 26.4%
	Adobe Systems Inc. (c)	283	10,024
	Akamai Technologies Inc. (c) (e)	121	3,813
	Apple Inc. (c)	85	20,063
	Broadcom Corp. - Class A (c)	290	9,632
	Cisco Systems Inc. (c)	629	16,368
	eBay Inc. (c)	87	2,350
	Google Inc. - Class A (c)	47	26,649
	International Business Machines Corp.	29	3,694
	Jabil Circuit Inc.	86	1,392
	Juniper Networks Inc. (c) (e)	517	15,852
	Maxim Integrated Products Inc. (e)	133	2,587
	NetApp Inc. (c)	144	4,695
	Nintendo Co. Ltd. - ADR	246	10,233
	Oracle Corp.	405	10,404
	Paychex Inc. (e)	115	3,527
	QUALCOMM Inc.	383	16,065
	Research In Motion Ltd. (c)	100	7,373
	Visa Inc. - Class A	148	13,427
	Yahoo! Inc. (c)	96	1,590
			179,738
MATERIALS - 6.3%
	Allegheny Technologies Inc.	255	13,757
	Cliffs Natural Resources Inc.	84	5,967
	Ecolab Inc.	96	4,215
	Monsanto Co.	157	11,242
	Vulcan Materials Co. (e)	159	7,488
			42,669
TELECOMMUNICATION SERVICES - 1.6%
	American Tower Corp. (c)	250	10,657
	Total Common Stocks (cost $553,571)		648,165
INVESTMENT FUNDS - 2.2%
	iShares Russell 1000 Growth Fund	292	15,149
	Total Investment Funds (cost $15,090)		15,149
NON-U.S. GOVERNMENT AGENCY ASSET-BACKED SECURITIES - 0.0%
	Sigma Finance, Inc. (d) (f) (u)	$             1,051	45
	Total Non-U.S. Government Agency Asset-Backed Securities (cost $1,051)		45
SHORT TERM INVESTMENTS - 11.8%
Mutual Funds - 4.5%
	JNL Money Market Fund, 0.03% (a) (h)	30,948	30,948
Securities Lending Collateral - 7.3%
	Securities Lending Cash Collateral Fund LLC, 0.24% (a) (h)	39,101	39,101
	Securities Lending Liquidating Fund LLC, 0.38% (a) (h)	10,680	10,680
			49,781
	Total Short Term Investments (cost $80,729)		80,729
Total Investments - 109.2% (cost $650,441)			744,088
Other Assets and Liabilities, Net -  (9.2%)			(62,498)
Total Net Assets - 100%			$      681,590
JNL/Credit Suisse Commodity Securities Fund
COMMON STOCKS - 50.0%
ENERGY - 11.3%
	Anadarko Petroleum Corp.	19	$          1,364
	Apache Corp.	13	1,362
	ARC Energy Trust	1	20
	Arch Coal Inc.	3	65
	BG Group Plc	143	2,477
	BP Plc	799	7,561
	Cabot Oil & Gas Corp. - Class A	1	45
	Cairn Energy Plc (c)	1	6
	Caltex Australia Ltd. (c)	1	14
	Cameco Corp.	3	76
	Canadian Natural Resources Ltd.	20	1,506
	Canadian Oil Sands Trust	2	59
	Cenovus Energy Inc.	18	462
	Chesapeake Energy Corp.	16	383
	Chevron Corp.	84	6,374
	Cimarex Energy Co.	1	81
	ConocoPhillips	59	3,028
	Consol Energy Inc.	2	82
	Cosmo Oil Co. Ltd. (e)	7	17
	Crescent Point Energy Corp.	1	19
	Denbury Resources Inc. (c)	4	73
	Devon Energy Corp.	14	923
	El Paso Corp.	7	76
	Enbridge Inc.	12	590
	EnCana Corp.	18	550
	ENI SpA	112	2,622
	EOG Resources Inc.	8	706
	Exxon Mobil Corp.	200	13,412
	Galp Energia SGPS SA	37	651
	Gazprom OAO - ADR	77	1,808
	Hellenic Petroleum SA	-	1
	Hess Corp.	9	591
	Idemitsu Kosan Co. Ltd.	-	2
	Imperial Oil Ltd.	4	140
	INPEX Corp.	-	139
	Japan Petroleum Exploration Co.	-	3
	Lundin Petroleum AB (c) (e)	-	1
	Marathon Oil Corp.	31	969
	Mongolia Energy Co. Ltd. (c)	1	-
	Murphy Oil Corp.	3	143
	Neste Oil Oyj (c)	-	2
	Newfield Exploration Co. (c)	3	171
	Nexen Inc.	11	283
	Nippon Mining Holdings Inc. (e) (f)	19	87
	Nippon Oil Corp. (e) (f)	15	74
	Noble Energy Inc.	3	228
	Occidental Petroleum Corp.	29	2,480
	OMV AG	-	4
	Origin Energy Ltd.	25	385
	Peabody Energy Corp.	6	284
	PetroHawk Energy Corp. (c)	3	66
	Petroleo Brasileiro SA - Petrobras - ADR	76	3,368
	Pioneer Natural Resources Co.	4	224
	Plains Exploration & Production Co. (c)	2	69
	Range Resources Corp.	6	271
	Repsol YPF SA	37	870
	Rosneft Oil Co. - GDR (c)	156	1,240
	Royal Dutch Shell Plc - Class B	151	4,166
	Santos Ltd. (e)	26	349
	Saras SpA	-	2
	SBM Offshore NV	2	37
	Showa Shell Sekiyu KK	-	2
	Southwestern Energy Co. (c)	6	264
	Spectra Energy Corp.	16	367
	StatoilHydro ASA	48	1,106
	Suncor Energy Inc.	57	1,844
	Sunoco Inc.	1	40
	Talisman Energy Inc.	39	665
	TonenGeneral Sekiyu KK	-	2
	Total SA	91	5,290
	TransCanada Corp. (e)	18	665
	Tullow Oil Plc	33	621
	Valero Energy Corp.	14	277
	Williams Cos. Inc.	14	332
	Woodside Petroleum Ltd. (e)	13	559
	XTO Energy Inc.	23	1,065
			76,160
MATERIALS - 38.7%
	Acerinox SA	28	559
	Agnico-Eagle Mines Ltd.	27	1,505
	Agrium Inc.	6	455
	Air Liquide	13	1,602
	Air Products & Chemicals Inc.	14	1,042
	Akzo Nobel NV	16	923
	Alcoa Inc.	193	2,754
	Allegheny Technologies Inc.	17	924
	Alumina Ltd. (c)	293	464
	Anglo American Plc (c)	265	11,570
	Antofagasta Plc	81	1,284
	ArcelorMittal (e)	181	7,956
	Asahi Kasei Corp.	21	113
	Barrick Gold Corp.	214	8,201
	BASF SE	50	3,121
	BHP Billiton Plc	1,214	41,644
	BlueScope Steel Ltd. (c) (e)	409	1,093
	Celanese Corp. - Class A	2	67
	CF Industries Holdings Inc.	2	194
	Cliffs Natural Resources Inc.	19	1,368
	Commercial Metals Co.	36	535
	Daicel Chemical Industries Ltd.	-	3
	Daido Steel Co. Ltd. (c) (e)	44	185
	Denki Kagaku Kogyo K K	1	3
	DIC Corp.	1	2
	Dow Chemical Co.	62	1,831
	Dowa Holdings Co. Ltd. (e)	43	259
	Eastman Chemical Co.	3	169
	Ecolab Inc.	7	327
	EI Du Pont de Nemours & Co.	42	1,582
	Eldorado Gold Corp. (c)	101	1,227
	Eramet (e)	1	188
	Eurasian Natural Resources Corp.	36	643
	First Quantum Minerals Ltd. (e)	14	1,168
	Fortescue Metals Group Ltd. (c) (e)	195	878
	Franco-Nevada Corp.	21	555
	Freeport-McMoRan Copper & Gold Inc.	73	6,110
	Fresnillo Plc	12	151
	Givaudan SA	-	54
	Goldcorp Inc.	132	4,922
	Hitachi Chemical Co. Ltd.	-	2
	Hitachi Metals Ltd. (e)	25	263
	Holmen AB (e)	28	759
	Iamgold Corp.	50	658
	Incitec Pivot Ltd.	51	163
	International Flavors & Fragrances Inc.	-	16
	International Paper Co.	388	9,553
	JFE Holdings Inc.	107	4,292
	Johnson Matthey Plc	39	1,041
	JSR Corp.	1	29
	K+S AG	4	238
	Kaneka Corp.	-	3
	Kansai Paint Co. Ltd.	-	3
	Kazakhmys Plc (c)	40	934
	Kinross Gold Corp.	130	2,226
	Kobe Steel Ltd. (c) (e)	451	970
	Koninklijke DSM NV (e)	3	152
	Kuraray Co. Ltd.	1	7
	Linde AG	7	804
	Lonmin Plc (c)	29	910
	Maruichi Steel Tube Ltd.	-	6
	MeadWestvaco Corp.	171	4,381
	Mitsubishi Chemical Holdings Corp.	9	43
	Mitsubishi Gas Chemical Co. Inc.	6	36
	Mitsubishi Materials Corp. (c)	183	527
	Mitsubishi Rayon Co. Ltd. (c)	12	51
	Mitsui Chemicals Inc.	8	24
	Mitsui Mining & Smelting Co. Ltd. (c) (e)	75	225
	Monsanto Co.	35	2,529
	Mosaic Co.	3	212
	Newcrest Mining Ltd. (e)	116	3,489
	Newmont Mining Corp.	113	5,779
	Nippon Paper Group Inc.	92	2,372
	Nippon Steel Corp. (e)	959	3,765
	Nissan Chemical Industries Ltd. (e)	-	3
	Nisshin Steel Co. Ltd.	100	209
	Nitto Denko Corp.	7	256
	Norsk Hydro ASA (c) (e)	155	1,178
	Novozymes A/S	-	6
	Nucor Corp.	64	2,919
	Nufarm Ltd. (e)	2	12
	OJI Paper Co. Ltd. (e)	848	3,721
	OneSteel Ltd.	161	575
	Orica Ltd.	14	342
	OSAKA Titanium Technologies Co. Ltd. (e)	2	91
	Outokumpu Oyj (e)	10	226
	OZ Minerals Ltd. (c) (e)	456	479
	Potash Corp of Saskatchewan Inc.	16	1,926
	PPG Industries Inc.	8	507
	Praxair Inc.	19	1,547
	Randgold Resources Ltd.	14	1,050
	Rautaruukki Oyj (e)	6	120
	Rio Tinto Ltd. (e)	87	6,267
	Rio Tinto Plc	262	15,523
	Salzgitter AG	8	747
	Shin-Etsu Chemical Co. Ltd.	25	1,429
	Showa Denko KK	55	124
	Sigma-Aldrich Corp.	3	183
	Silver Wheaton Corp. (c)	50	787
	Sims Metal Management Ltd.	21	417
	Sino-Forest Corp. (c)	198	3,885
	Solvay SA	1	122
	SSAB Svenskt Stal AB - Class A (e)	38	681
	SSAB Svenskt Stal AB - Class B (e)	-	5
	Steel Dynamics Inc.	22	386
	Stora Enso Oyj - Class R (c) (e)	515	3,919
	Sumitomo Chemical Co. Ltd.	60	293
	Sumitomo Metal Industries Ltd.	605	1,831
	Sumitomo Metal Mining Co. Ltd.	108	1,607
	Svenska Cellulosa AB (c)	532	7,502
	Syngenta AG	4	1,239
	Taiyo Nippon Sanso Corp.	-	4
	Teck Cominco Ltd. (c)	85	3,686
	Teijin Ltd.	10	34
	ThyssenKrupp AG	69	2,356
	Tokuyama Corp.	-	3
	Tokyo Steel Manufacturing Co. Ltd. (e)	9	111
	Toray Industries Inc. (e)	17	99
	Tosoh Corp.	5	13
	Ube Industries Ltd.	10	26
	Umicore	41	1,437
	United States Steel Corp. (e)	25	1,585
	UPM-Kymmene Oyj (e)	503	6,674
	Vale SA - ADR	288	9,261
	Vedanta Resources Plc	27	1,133
	Voestalpine AG (e)	16	656
	Wacker Chemie AG	-	3
	Weyerhaeuser Co.	199	9,025
	Xstrata Plc (c)	396	7,502
	Yamana Gold Inc.	119	1,176
	Yamato Kogyo Co. Ltd.	4	130
	Yara International ASA	12	513
			261,634
	Total Common Stocks (cost $297,331)		337,794
INVESTMENT FUNDS - 2.1%
	Energy Select Sector SPDR Fund (e)	62	3,543
	Materials Select Sector SPDR Fund (e)	324	10,974
	Total Investment Funds (cost $14,270)		14,517
NON-U.S. GOVERNMENT AGENCY ASSET-BACKED SECURITIES - 0.0%
	Sigma Finance, Inc. (d) (f) (u)	$                317	14
	Total Non-U.S. Government Agency Asset-Backed Securities (cost $317)		14
COMMODITY INDEXED STRUCTURED NOTES - 17.3%
	BNP Paribas Commodity Linked Note, 0.15%, 11/26/10 (f)	5,000	5,635
	BNP Paribas Commodity Linked Note, 0.01%, 01/13/11 (f)	14,000	16,202
	Deutsche Bank AG Commodity Linked Note, 0.07%, 02/15/11 (f) (i)	12,500	11,327
	Eksportfinans ASA Commodity Linked Note, 0.03%, 11/15/10 (f)	20,000	24,400
	Societe Generale Commodity Linked Note, 0.23%, 07/12/10 (f) (i) (t)	13,000	13,940
	Societe Generale Commodity Linked Note, 0.23%, 01/06/11 (f)	10,000	11,906
	Svensk Exportkredit AB Commodity Linked Note, 0.01%, 07/19/10 (f) (i)	20,000	22,482
	Svensk Exportkredit AB Commodity Linked Note, 0.01%, 03/02/11 (f)	12,000	11,621
	Total Commodity Indexed Structured Notes (cost $106,500)		117,513
GOVERNMENT AND AGENCY OBLIGATIONS - 15.5%
U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES - 15.5%
Federal Farm Credit Bank - 1.9%
	Federal Farm Credit Bank, 0.29%, 06/22/11 (i)	3,000	3,002
	Federal Farm Credit Bank, 0.55%, 01/13/12 (i)	9,500	9,547
			12,549
Federal Home Loan Bank - 7.5%
	Federal Home Loan Bank, 0.52%, 06/01/10	5,000	5,002
	Federal Home Loan Bank, 0.18%, 01/14/11 (i)	15,000	14,996
	Federal Home Loan Bank, 0.95%, 02/03/11	5,000	5,016
	Federal Home Loan Bank, 1.00%, 02/07/11	3,000	3,008
	Federal Home Loan Bank, 0.45%, 02/25/11	5,000	4,992
	Federal Home Loan Bank, 1.00%, 02/28/11	3,000	3,015
	Federal Home Loan Bank, 0.75%, 03/25/11	7,500	7,509
	Federal Home Loan Bank, 0.57%, 04/13/11	7,000	6,997
			50,535
Federal Home Loan Mortgage Corp. - 5.1%
	Federal Home Loan Mortgage Corp., 0.30%, 01/28/11 (i)	6,858	6,864
	Federal Home Loan Mortgage Corp., 0.32%, 03/09/11 (i)	10,000	10,010
	Federal Home Loan Mortgage Corp., 0.35%, 04/01/11 (i)	10,000	10,010
	Federal Home Loan Mortgage Corp., 0.34%, 04/07/11 (i)	2,500	2,502
	Federal Home Loan Mortgage Corp., 0.22%, 02/16/12 (i)	5,000	4,993
			34,379
Federal National Mortgage Association - 1.0%
	Federal National Mortgage Association, 0.10%, 05/05/10	7,000	6,999
	Total Government and Agency Obligations (cost $104,481)		104,462
SHORT TERM INVESTMENTS - 25.3%
Federal Home Loan Bank - 4.2%
	Federal Home Loan Bank, 0.11%, 04/23/10	8,500	8,500
	Federal Home Loan Bank, 0.10%, 04/27/10	10,000	9,999
	Federal Home Loan Bank, 0.14%, 05/14/10	10,000	9,998
			28,497
Federal Home Loan Mortgage Corp. - 3.7%
	Federal Home Loan Mortgage Corp., 0.26%, 04/27/10	6,000	6,000
	Federal Home Loan Mortgage Corp., 0.22%, 06/14/10	10,000	9,998
	Federal Home Loan Mortgage Corp., 0.16%, 06/17/10	8,500	8,498
			24,496
Federal National Mortgage Association - 4.4%
	Federal National Mortgage Association, 0.18%, 04/19/10	9,700	9,699
	Federal National Mortgage Association, 0.14%, 05/19/10	10,000	9,998
	Federal National Mortgage Association, 0.23%, 08/16/10 (e)	10,000	9,992
			29,689
Mutual Funds - 0.9%
	JNL Money Market Fund, 0.03% (a) (h)	6,297	6,297
Securities Lending Collateral - 10.2%
	Securities Lending Cash Collateral Fund LLC, 0.24% (a) (h)	64,380	64,380
	Securities Lending Liquidating Fund LLC, 0.38% (a) (h)	4,421	4,421
			68,801
U.S. Treasury Securities - 1.9%
	U.S. Treasury Bill, 0.16%, 04/15/10 (e)	10,000	10,000
	U.S. Treasury Bill, 0.35%, 07/15/10 (e)	2,500	2,499
			12,499
	Total Short Term Investments (cost $170,273)		170,279
Total Investments - 110.2% (cost $693,172)			744,579
Other Assets and Liabilities, Net -  (10.2%)			(69,014)
Total Net Assets - 100%			$      675,565

JNL/Credit Suisse Long/Short Fund
COMMON STOCKS - 127.3%
CONSUMER DISCRETIONARY - 20.6%
	Advance Auto Parts Inc. (n)	16	$             669
	Aeropostale Inc. (c)	10	301
	Autoliv Inc. (c)	14	734
	Best Buy Co. Inc. (n)	74	3,135
	Career Education Corp. (c)	1	28
	Coach Inc.	7	257
	Comcast Corp. - Class A (n)	7	136
	DeVry Inc. (n)	25	1,656
	DirecTV - Class A (c) (n)	11	385
	Expedia Inc. (c) (n)	68	1,700
	Family Dollar Stores Inc.	-	15
	Ford Motor Co. (c)	60	754
	GameStop Corp. - Class A (c)	5	110
	Gannett Co. Inc.	68	1,120
	Goodyear Tire & Rubber Co. (c)	21	267
	H&R Block Inc.	64	1,146
	Hasbro Inc.	6	237
	ITT Educational Services Inc. (c)	1	67
	John Wiley & Sons Inc.	1	49
	Kohl's Corp.(c) (n)	6	301
	Macy's Inc.	59	1,287
	Mattel Inc. (n)	7	166
	McGraw-Hill Cos. Inc.	2	53
	Newell Rubbermaid Inc.	25	375
	Nike Inc. - Class B (n)	2	129
	Nordstrom Inc.	21	837
	Omnicom Group Inc.	12	450
	Priceline.com Inc. (c)	2	561
	RadioShack Corp.	6	124
	Ross Stores Inc.	11	610
	Starbucks Corp. (c)	15	359
	Target Corp.	9	468
	Time Warner Inc. (n)	38	1,191
	Warnaco Group Inc. (c) (n)	1	67
	Whirlpool Corp.	10	829
	Yum! Brands Inc.	3	103
			20,676
CONSUMER STAPLES - 11.2%
	Brown-Forman Corp. - Class B	3	166
	Coca-Cola Enterprises Inc.	76	2,099
	Estee Lauder Cos. Inc. (n)	29	1,901
	General Mills Inc.	11	757
	Hershey Co. (n)	65	2,786
	Kellogg Co.	-	17
	Kimberly-Clark Corp.	9	547
	Mead Johnson Nutrition Co.	8	390
	PepsiCo Inc.	3	185
	Procter & Gamble Co. (n)	32	1,999
	Sara Lee Corp.	15	209
	SUPERVALU Inc.	8	137
			11,193
ENERGY - 9.3%
	Chevron Corp. (n)	16	1,198
	CNX Gas Corp. (c)	-	16
	Consol Energy Inc.	18	747
	Continental Resources Inc. (c)	4	174
	Diamond Offshore Drilling Inc.	-	36
	Dresser-Rand Group Inc. (c)	3	81
	EOG Resources Inc.	3	232
	Exxon Mobil Corp. (n)	29	1,949
	FMC Technologies Inc. (c)	1	58
	National Oilwell Varco Inc.	17	686
	Occidental Petroleum Corp. (n)	23	1,902
	Rowan Cos. Inc. (c)	36	1,048
	Schlumberger Ltd. (n)	19	1,212
			9,339
FINANCIALS - 18.9%
	AFLAC Inc.	-	5
	American Express Co. (n)	22	924
	Annaly Capital Management Inc.	22	381
	Bank of America Corp. (n)	77	1,375
	Berkshire Hathaway Inc. - Class B (c)	5	382
	BlackRock Inc.	-	44
	Capital One Financial Corp.	-	12
	Citigroup Inc. (c) (n)	175	710
	Eaton Vance Corp.	3	97
	Federated Investors Inc. - Class B (n)	58	1,542
	First American Corp.	-	7
	Franklin Resources Inc.	3	311
	Genworth Financial Inc. - Class A (c)	26	482
	Goldman Sachs Group Inc.	12	2,082
	Greenhill & Co. Inc.	-	25
	Hartford Financial Services Group Inc.	26	733
	Hudson City Bancorp Inc. (n)	5	71
	IntercontinentalExchange Inc. (c)	-	45
	JPMorgan Chase & Co.	4	197
	M&T Bank Corp.	5	421
	Moody's Corp.	2	62
	MSCI Inc. (c)	11	397
	NYSE Euronext	21	607
	PNC Financial Services Group Inc.	13	770
	Public Storage	3	285
	Rayonier Inc.	13	586
	Travelers Cos. Inc. (n)	12	626
	U.S. Bancorp (n)	37	945
	Unum Group	13	312
	Ventas Inc.	1	34
	Wells Fargo & Co. (n)	145	4,501
			18,971
HEALTH CARE - 18.3%
	Abbott Laboratories	9	458
	Allergan Inc. (n)	20	1,287
	Amgen Inc. (c) (n)	32	1,894
	Becton Dickinson & Co. (n)	4	346
	Cardinal Health Inc.	14	490
	CareFusion Corp. (c)	2	41
	Cephalon Inc. (c) (n)	30	2,033
	Eli Lilly & Co.	35	1,271
	Express Scripts Inc. (c)	2	183
	Gilead Sciences Inc. (c)	46	2,078
	Humana Inc. (c) (n)	30	1,380
	Johnson & Johnson (n)	4	274
	King Pharmaceuticals Inc. (c)	41	477
	Medtronic Inc.	9	401
	Merck & Co. Inc.	22	821
	Mylan Inc. (c) (n)	49	1,108
	Stryker Corp.	10	549
	WellPoint Inc. (c) (n)	51	3,271
			18,362
INDUSTRIALS - 7.4%
	3M Co. (n)	43	3,585
	Armstrong World Industries Inc. (c)	2	73
	Donaldson Co. Inc.	3	131
	Emerson Electric Co. (n)	2	76
	Fluor Corp.	2	70
	General Electric Co. (n)	31	562
	Illinois Tool Works Inc.	6	298
	ITT Corp. (n)	33	1,758
	Lincoln Electric Holdings Inc.	1	27
	Manitowoc Co. Inc.	1	16
	Raytheon Co.	7	423
	Southwest Airlines Co.	1	14
	United Parcel Service Inc. - Class B	6	412
			7,445
INFORMATION TECHNOLOGY - 28.3%
	Altera Corp.	-	7
	AOL Inc. (c)	6	147
	Apple Inc. (c) (n)	17	3,947
	Broadcom Corp. - Class A (c)	11	348
	eBay Inc. (c) (n)	52	1,393
	Fidelity National Information Services Inc.	6	150
	Gartner Inc. - Class A (c)	8	172
	Google Inc. - Class A (c) (n)	3	1,814
	Intel Corp. (n)	24	534
	International Business Machines Corp. (n)	34	4,309
	Jabil Circuit Inc.	51	832
	Lexmark International Inc. (c)	9	321
	MasterCard Inc.	2	406
	McAfee Inc. (c)	-	12
	Microsoft Corp. (n)	133	3,887
	National Semiconductor Corp.	24	345
	Novell Inc. (c)	2	11
	QUALCOMM Inc. (n)	35	1,449
	Red Hat Inc. (c) (n)	5	135
	SanDisk Corp. (c)	-	4
	Sohu.com Inc. (c)	-	16
	Teradata Corp. (c)	9	246
	Texas Instruments Inc. (n)	8	193
	VeriSign Inc. (c) (n)	78	2,031
	Western Digital Corp. (c) (n)	73	2,847
	Western Union Co. (n)	89	1,515
	Xilinx Inc.	51	1,308
			28,379
MATERIALS - 6.6%
	Celanese Corp. - Class A	20	637
	CF Industries Holdings Inc.	2	191
	Freeport-McMoRan Copper & Gold Inc. (n)	41	3,400
	International Paper Co.	56	1,386
	Lubrizol Corp.	11	1,018
	Southern Copper Corp.	-	14
			6,646
TELECOMMUNICATION SERVICES - 2.7%
	American Tower Corp. (c)	15	622
	AT&T Inc. (n)	47	1,222
	NII Holdings Inc. - Class B (c) (n)	10	412
	Qwest Communications International Inc.	12	65
	Sprint Nextel Corp. (c) (n)	30	113
	Verizon Communications Inc.	9	276
			2,710
UTILITIES - 4.0%
	Constellation Energy Group Inc.	85	2,991
	Exelon Corp. (n)	14	591
	NSTAR	3	101
	Public Service Enterprise Group Inc. (n)	10	309
			3,992
	Total Common Stocks (cost $121,140)		127,713
SHORT TERM INVESTMENTS - 2.4%
Mutual Funds - 2.4%
	JNL Money Market Fund, 0.03% (a) (h)	2,394	2,394
	Total Short Term Investments (cost $2,394)		2,394
Total Investments - 129.7% (cost $123,534)			130,107
Total Securities Sold Short - (29.1%) (proceeds $26,579)			(29,212)
Other Assets and Liabilities, Net -  (0.6%)			(615)
Total Net Assets - 100%			$      100,280
Securities Sold Short
COMMON STOCKS - 29.1%
CONSUMER DISCRETIONARY - 4.1%
	Abercrombie & Fitch Co. - Class A	1	$               59
	Amazon.com Inc.	1	109
	American Eagle Outfitters Inc.	3	46
	Apollo Group Inc. - Class A	1	49
	AutoNation Inc.	2	29
	AutoZone Inc.	-	69
	Bally Technologies Inc.	1	36
	Bed Bath & Beyond Inc.	2	66
	Big Lots Inc.	1	44
	BorgWarner Inc.	1	42
	Burger King Holdings Inc.	2	47
	Carmax Inc.	2	43
	Carnival Corp.	2	86
	CBS Corp. - Class B	4	59
	Chico's FAS Inc.	3	42
	Chipotle Mexican Grill Inc. - Class A	-	34
	CTC Media Inc.	1	21
	Darden Restaurants Inc.	1	45
	Dick's Sporting Goods Inc.	2	39
	Dollar Tree Inc.	-	17
	DR Horton Inc.	4	45
	DreamWorks Animation SKG Inc.	1	35
	Dress Barn Inc.	1	21
	Eastman Kodak Co.	-	2
	Fortune Brands Inc.	1	63
	Fossil Inc.	1	19
	Gap Inc.	2	35
	Gentex Corp.	2	37
	Genuine Parts Co.	1	59
	Guess? Inc.	-	14
	HanesBrands Inc.	1	39
	Harley-Davidson Inc.	2	59
	Harman International Industries Inc.	1	47
	Home Depot Inc.	5	175
	Interactive Data Corp.	1	38
	International Game Technology	3	50
	Interpublic Group of Cos. Inc.	6	52
	J Crew Group Inc.	1	37
	J.C. Penney Co. Inc.	2	64
	Jarden Corp.	1	43
	Johnson Controls Inc.	2	56
	Leggett & Platt Inc.	2	35
	Lennar Corp.	3	43
	Liberty Media Corp. - Interactive	2	35
	Limited Brands Inc.	2	59
	Lowe's Cos. Inc.	5	131
	Marriott International Inc. - Class A	2	57
	McDonald's Corp.	3	207
	Meredith Corp.	1	45
	New York Times Co. - Class A	4	41
	News Corp. - Class A	7	97
	Office Depot Inc.	6	45
	O'Reilly Automotive Inc.	1	58
	Panera Bread Co. - Class A	1	38
	PetSmart Inc.	2	48
	Phillips-Van Heusen Corp.	1	52
	Polo Ralph Lauren Corp.	1	43
	Pulte Homes Inc.	4	46
	Scripps Networks Interactive Inc.	1	49
	Service Corp. International	4	39
	Sherwin-Williams Co.	1	54
	Stanley Black & Decker Inc.	1	40
	Staples Inc.	2	51
	Starwood Hotels & Resorts Worldwide Inc.	2	70
	Tiffany & Co.	1	57
	Tim Hortons Inc.	1	29
	Time Warner Cable Inc.	2	85
	TJX Cos. Inc.	2	72
	Tractor Supply Co.	1	29
	Tupperware Brands Corp.	1	24
	Urban Outfitters Inc.	1	53
	VF Corp.	1	64
	Walt Disney Co.	6	209
	Williams-Sonoma Inc.	1	32
	WMS Industries Inc.	1	38
	Wyndham Worldwide Corp.	2	54
	Wynn Resorts Ltd.	1	53
			4,154
CONSUMER STAPLES - 2.7%
	Altria Group Inc.	7	133
	Archer-Daniels-Midland Co.	3	90
	Avon Products Inc.	2	78
	BJ's Wholesale Club Inc.	1	38
	Campbell Soup Co.	2	60
	Church & Dwight Co. Inc.	1	40
	Clorox Co.	1	64
	Colgate-Palmolive Co.	2	136
	ConAgra Foods Inc.	3	68
	Constellation Brands Inc. - Class A	3	46
	Corn Products International Inc.	1	45
	Costco Wholesale Corp.	2	107
	CVS Caremark Corp.	5	165
	Dean Foods Co.	3	43
	Del Monte Foods Co.	3	45
	Dr. Pepper Snapple Group Inc.	2	63
	Energizer Holdings Inc.	1	38
	Flowers Foods Inc.	2	37
	HJ Heinz Co.	-	19
	Hormel Foods Corp.	1	46
	JM Smucker Co.	1	54
	Kraft Foods Inc. - Class A	6	175
	Kroger Co.	4	76
	Lorillard Inc.	1	60
	McCormick & Co. Inc.	1	50
	Molson Coors Brewing Co.	1	50
	NBTY Inc.	1	43
	Philip Morris International Inc.	3	130
	Reynolds American Inc.	1	59
	Safeway Inc.	3	62
	Sysco Corp.	3	86
	Tyson Foods Inc.	3	59
	Walgreen Co.	4	130
	Wal-Mart Stores Inc.	6	306
	Whole Foods Market Inc.	2	54
			2,755
ENERGY - 2.2%
	Alpha Natural Resources Inc.	1	40
	Anadarko Petroleum Corp.	2	131
	Apache Corp.	1	122
	Arch Coal Inc.	2	41
	Cabot Oil & Gas Corp. - Class A	1	48
	Cameron International Corp.	2	64
	Chesapeake Energy Corp.	3	78
	Cimarex Energy Co.	1	42
	ConocoPhillips	-	20
	Denbury Resources Inc.	3	56
	Devon Energy Corp.	2	110
	Dril-Quip Inc.	1	43
	El Paso Corp.	6	60
	Halliburton Co.	4	105
	Helmerich & Payne Inc.	1	34
	Hess Corp.	1	81
	Kinder Morgan Management LLC	-	19
	Marathon Oil Corp.	3	98
	Massey Energy Co.	1	58
	Murphy Oil Corp.	1	67
	Nabors Industries Ltd.	2	45
	Newfield Exploration Co.	1	42
	Noble Energy Inc.	1	73
	Oceaneering International Inc.	1	44
	Oil States International Inc.	1	27
	Peabody Energy Corp.	1	50
	Pioneer Natural Resources Co.	1	56
	Pride International Inc.	1	39
	Range Resources Corp.	1	56
	Southern Union Co.	2	41
	Southwestern Energy Co.	2	73
	Spectra Energy Corp.	3	77
	St. Mary Land & Exploration Co.	-	4
	Sunoco Inc.	2	51
	Valero Energy Corp.	4	69
	Whiting Petroleum Corp.	1	40
	Williams Cos. Inc.	3	74
			2,178
FINANCIALS - 4.3%
	Affiliated Managers Group Inc.	1	40
	Alexandria Real Estate Equities Inc.	1	34
	Allstate Corp.	3	84
	AmeriCredit Corp.	2	40
	Ameriprise Financial Inc.	2	68
	AON Corp.	2	68
	Apartment Investment & Management Co.	3	48
	Arthur J Gallagher & Co.	1	34
	Assurant Inc.	1	48
	AvalonBay Communities Inc.	1	60
	Bank of Hawaii Corp.	1	36
	Bank of New York Mellon Corp.	4	133
	BB&T Corp.	3	94
	Boston Properties Inc.	1	68
	Brown & Brown Inc.	2	38
	CB Richard Ellis Group Inc. - Class A	3	54
	Charles Schwab Corp.	4	75
	Chubb Corp.	1	36
	Cincinnati Financial Corp.	2	52
	City National Corp.	1	38
	CME Group Inc.	-	95
	Comerica Inc.	1	53
	Commerce Bancshares Inc.	1	22
	Cullen/Frost Bankers Inc.	-	11
	Discover Financial Services	4	58
	Endurance Specialty Holdings Ltd.	-	11
	Equity Residential	2	70
	Federal Realty Investment Trust	1	44
	Fidelity National Financial Inc. - Class A	1	21
	Fifth Third Bancorp	5	64
	First Horizon National Corp.	3	46
	First Niagara Financial Group Inc.	2	31
	HCP Inc.	2	66
	Health Care REIT Inc.	1	50
	Highwoods Properties Inc.	1	35
	Hospitality Properties Trust	2	38
	Host Hotels & Resorts Inc.	5	66
	Huntington Bancshares Inc.	4	23
	Invesco Ltd.	3	66
	Janus Capital Group Inc.	4	50
	Jefferies Group Inc.	2	36
	Jones Lang LaSalle Inc.	-	22
	KeyCorp	7	57
	Kimco Realty Corp.	4	58
	Legg Mason Inc.	2	54
	Leucadia National Corp.	2	50
	Lincoln National Corp.	2	64
	Loews Corp.	2	71
	Mack-Cali Realty Corp.	1	39
	Marsh & McLennan Cos. Inc.	3	73
	Marshall & Ilsley Corp.	6	51
	Mercury General Corp.	1	35
	MetLife Inc.	3	126
	Morgan Stanley	5	141
	NASDAQ OMX Group Inc.	2	42
	Nationwide Health Properties Inc.	1	39
	Navigators Group Inc.	-	3
	New York Community Bancorp Inc.	2	35
	Northern Trust Corp.	1	72
	People's United Financial Inc.	3	53
	Plum Creek Timber Co. Inc.	1	51
	Principal Financial Group Inc.	2	67
	Progressive Corp.	4	69
	ProLogis	4	51
	Prudential Financial Inc.	2	103
	Raymond James Financial Inc.	2	40
	Regions Financial Corp.	8	63
	Senior Housing Properties Trust	2	38
	Simon Property Group Inc.	1	118
	SLM Corp.	5	56
	State Street Corp.	2	90
	SunTrust Banks Inc.	3	72
	T. Rowe Price Group Inc.	1	71
	TCF Financial Corp.	2	32
	TD Ameritrade Holding Corp.	2	38
	Torchmark Corp.	1	59
	Valley National Bancorp	2	29
	Waddell & Reed Financial Inc. - Class A	1	40
	WR Berkley Corp.	2	39
	XL Capital Ltd. - Class A	1	17
			4,332
HEALTH CARE - 2.5%
	Aetna Inc.	2	81
	AmerisourceBergen Corp.	2	58
	Baxter International Inc.	2	116
	Beckman Coulter Inc.	1	31
	Biogen Idec Inc.	1	75
	Bio-Rad Laboratories Inc. - Class A	-	31
	Boston Scientific Corp.	9	65
	Celgene Corp.	2	99
	Cerner Corp.	-	34
	CIGNA Corp.	2	62
	Covance Inc.	1	43
	Coventry Health Care Inc.	2	47
	CR Bard Inc.	1	52
	DaVita Inc.	1	57
	Dentsply International Inc.	2	52
	Edwards Lifesciences Corp.	1	49
	Forest Laboratories Inc.	2	56
	Gen-Probe Inc.	1	45
	Genzyme Corp.	1	67
	Health Net Inc.	2	37
	Henry Schein Inc.	1	29
	Hospira Inc.	1	62
	Idexx Laboratories Inc.	1	30
	Intuitive Surgical Inc.	-	70
	Laboratory Corp. of America Holdings	1	61
	Life Technologies Corp.	1	63
	Lincare Holdings Inc.	1	36
	McKesson Corp.	1	85
	Medco Health Solutions Inc.	1	58
	Mednax Inc.	1	41
	Mettler Toledo International Inc.	-	44
	Patterson Cos. Inc.	2	47
	PerkinElmer Inc.	2	45
	Perrigo Co.	1	35
	Pharmaceutical Product Development Inc.	2	43
	Quest Diagnostics Inc.	1	58
	ResMed Inc.	1	45
	St. Jude Medical Inc.	2	74
	Teleflex Inc.	1	45
	Tenet Healthcare Corp.	7	42
	Thermo Fisher Scientific Inc.	2	98
	UnitedHealth Group Inc.	-	10
	Universal Health Services Inc.	1	35
	Valeant Pharmaceutical International	1	43
	VCA Antech Inc.	1	39
	Watson Pharmaceuticals Inc.	1	54
	Zimmer Holdings Inc.	1	59
			2,508
INDUSTRIALS - 4.4%
	AECOM Technology Corp.	2	43
	AGCO Corp.	1	43
	Alliant Techsystems Inc.	-	24
	AMETEK Inc.	1	37
	Avery Dennison Corp.	2	55
	BE Aerospace Inc.	1	40
	Boeing Co.	2	138
	Carlisle Cos. Inc.	1	34
	Caterpillar Inc.	2	126
	CH Robinson Worldwide Inc.	1	61
	Cintas Corp.	2	51
	Copart Inc.	1	39
	Corrections Corp. of America	2	34
	Covanta Holding Corp.	2	37
	CSX Corp.	2	92
	Cummins Inc.	1	74
	Danaher Corp.	1	80
	Deere & Co.	2	89
	Dover Corp.	1	61
	Dun & Bradstreet Corp.	1	45
	Eaton Corp.	1	76
	Equifax Inc.	2	54
	Expeditors International Washington Inc.	2	59
	Fastenal Co.	1	58
	FedEx Corp.	1	121
	Flowserve Corp.	-	44
	General Dynamics Corp.	2	116
	Goodrich Corp.	1	63
	Harsco Corp.	1	42
	Honeywell International Inc.	2	104
	IDEX Corp.	1	43
	IHS Inc.	1	37
	Iron Mountain Inc.	2	49
	Jacobs Engineering Group Inc.	1	54
	JB Hunt Transport Services Inc.	1	43
	Joy Global Inc.	1	40
	Kansas City Southern	1	40
	KBR Inc.	2	35
	Kennametal Inc.	-	6
	L-3 Communications Holdings Inc.	1	64
	Landstar System Inc.	1	34
	Lennox International Inc.	1	40
	Lockheed Martin Corp.	1	58
	Manpower Inc.	1	40
	Masco Corp.	3	53
	MSC Industrial Direct Co. - Class A	1	35
	Norfolk Southern Corp.	2	95
	Northrop Grumman Systems Corp.	1	92
	Orion Marine Group Inc.	-	5
	Oshkosh Corp.	1	36
	PACCAR Inc.	2	82
	Pall Corp.	1	49
	Parker Hannifin Corp.	1	65
	Pentair Inc.	1	43
	Pitney Bowes Inc.	2	56
	Precision Castparts Corp.	1	89
	Quanta Services Inc.	3	48
	Republic Services Inc. - Class A	2	61
	Robert Half International Inc.	2	52
	Rockwell Automation Inc.	1	56
	Rockwell Collins Inc.	1	63
	Rollins Inc.	1	26
	Roper Industries Inc.	1	52
	RR Donnelley & Sons Co.	2	51
	Ryder System Inc.	1	43
	Snap-On Inc.	1	48
	Spirit Aerosystems Holdings Inc.	2	44
	SPX Corp.	1	40
	Stericycle Inc.	1	55
	Textron Inc.	3	53
	Timken Co.	2	45
	TransDigm Group Inc.	1	42
	Union Pacific Corp.	2	139
	United Technologies Corp.	-	6
	Valmont Industries Inc.	-	8
	Waste Connections Inc.	1	41
	Waste Management Inc.	3	86
	Woodward Governor Co.	1	16
	WW Grainger Inc.	1	65
			4,363
INFORMATION TECHNOLOGY - 4.3%
	Adobe Systems Inc.	2	85
	Advanced Micro Devices Inc.	6	55
	Agilent Technologies Inc.	2	72
	Akamai Technologies Inc.	2	60
	Alliance Data Systems Corp.	1	38
	Amphenol Corp. - Class A	1	55
	Analog Devices Inc.	2	58
	Applied Materials Inc.	7	89
	Arrow Electronics Inc.	1	39
	Autodesk Inc.	2	56
	Automatic Data Processing Inc.	2	98
	BMC Software Inc.	-	15
	Broadridge Financial Solutions Inc.	2	34
	Brocade Communications Systems Inc.	5	30
	CA Inc.	3	63
	Cisco Systems Inc.	2	57
	Citrix Systems Inc.	1	66
	Cognizant Technology Solutions Corp.	1	71
	Computer Sciences Corp.	1	60
	Compuware Corp.	6	49
	Corning Inc.	3	61
	Cree Inc.	1	49
	Dell Inc.	6	95
	Dolby Laboratories Inc. - Class A	1	41
	DST Systems Inc.	-	3
	Electronic Arts Inc.	3	58
	EMC Corp.	7	132
	F5 Networks Inc.	1	49
	Fiserv Inc.	1	61
	FLIR Systems Inc.	2	42
	Global Payments Inc.	1	36
	Harris Corp.	1	57
	Hewitt Associates Inc. - Class A	1	40
	Hewlett-Packard Co.	5	250
	Intuit Inc.	2	65
	JDS Uniphase Corp.	4	50
	Juniper Networks Inc.	3	80
	KLA-Tencor Corp.	2	56
	Lam Research Corp.	1	41
	Lender Processing Services Inc.	1	34
	Linear Technology Corp.	2	54
	LSI Corp.	9	52
	Maxim Integrated Products Inc.	2	35
	MEMC Electronic Materials Inc.	4	55
	Microchip Technology Inc.	2	51
	Micron Technology Inc.	6	61
	Micros Systems Inc.	1	36
	Molex Inc.	2	42
	Monster Worldwide Inc.	3	47
	Motorola Inc.	11	79
	National Instruments Corp.	1	43
	NCR Corp.	3	35
	NetApp Inc.	2	59
	Novellus Systems Inc.	2	50
	Nvidia Corp.	2	30
	ON Semiconductor Corp.	5	37
	Oracle Corp.	3	75
	Parametric Technology Corp.	2	37
	Paychex Inc.	2	61
	Polycom Inc.	1	34
	QLogic Corp.	2	45
	Rovi Corp.	1	41
	SAIC Inc.	3	50
	Salesforce.com Inc.	1	60
	Silicon Laboratories Inc.	1	38
	Skyworks Solutions Inc.	2	37
	Sybase Inc.	1	42
	Symantec Corp.	4	69
	Synopsys Inc.	2	40
	Tellabs Inc.	4	26
	Teradyne Inc.	4	46
	Total System Services Inc.	3	47
	Trimble Navigation Ltd.	2	46
	Varian Semiconductor Equipment Associates Inc.	1	40
	Visa Inc. - Class A	2	137
	Xerox Corp.	7	68
	Yahoo! Inc.	5	86
			4,341
MATERIALS - 2.3%
	Air Products & Chemicals Inc.	1	81
	AK Steel Holding Corp.	2	46
	Albemarle Corp.	1	47
	Alcoa Inc.	5	75
	Allegheny Technologies Inc.	1	59
	AptarGroup Inc.	1	35
	Ball Corp.	1	53
	Bemis Co. Inc.	2	46
	Cliffs Natural Resources Inc.	1	71
	Compass Minerals International Inc.	-	33
	Crown Holdings Inc.	2	43
	Dow Chemical Co.	2	50
	Eastman Chemical Co.	1	51
	Ecolab Inc.	2	66
	EI Du Pont de Nemours & Co.	3	112
	FMC Corp.	1	54
	Grief Inc.	1	44
	Huntsman Corp.	3	33
	International Flavors & Fragrances Inc.	1	52
	Martin Marietta Materials Inc.	1	43
	MeadWestvaco Corp.	2	49
	Monsanto Co.	2	143
	Mosaic Co.	1	36
	Newmont Mining Corp.	-	11
	Nucor Corp.	2	77
	Owens-Illinois Inc.	2	57
	Packaging Corp. of America	2	44
	Pactiv Corp.	2	45
	PPG Industries Inc.	1	65
	Praxair Inc.	1	108
	Reliance Steel & Aluminum Co.	1	35
	RPM International Inc.	2	36
	Scotts Miracle-Gro Co.	1	37
	Sealed Air Corp.	2	46
	Sigma-Aldrich Corp.	1	48
	Silgan Holdings Inc.	-	18
	Sonoco Products Co.	1	40
	Titanium Metals Corp.	3	48
	United States Steel Corp.	1	64
	Valspar Corp.	1	35
	Vulcan Materials Co.	1	52
	Walter Industries Inc.	1	46
	Weyerhaeuser Co.	2	68
			2,302
TELECOMMUNICATION SERVICES - 0.1%
	CenturyTel Inc.	2	64
	MetroPCS Communications Inc.	6	42
			106
UTILITIES - 2.2%
	AES Corp.	4	47
	AGL Resources Inc.	1	39
	Alliant Energy Corp.	1	40
	Ameren Corp.	2	52
	American Electric Power Co. Inc.	2	82
	Aqua America Inc.	2	37
	CenterPoint Energy Inc.	4	52
	CMS Energy Corp.	3	46
	Consolidated Edison Inc.	2	71
	Dominion Resources Inc.	3	107
	DPL Inc.	1	27
	DTE Energy Co.	1	45
	Duke Energy Corp.	6	96
	Edison International	2	65
	Energen Corp.	1	37
	Entergy Corp.	1	73
	EQT Corp.	1	53
	FPL Group Inc.	2	77
	Integrys Energy Group Inc.	1	47
	MDU Resources Group Inc.	2	39
	National Fuel Gas Co.	1	35
	Nicor Inc.	1	29
	NiSource Inc.	3	52
	Northeast Utilities	2	53
	OGE Energy Corp.	1	47
	Oneok Inc.	1	46
	Pepco Holdings Inc.	3	46
	PG&E Corp.	2	81
	Pinnacle West Capital Corp.	1	45
	PPL Corp.	2	58
	Progress Energy Inc.	2	71
	Questar Corp.	1	56
	SCANA Corp.	1	49
	Sempra Energy	1	70
	Southern Co.	3	113
	TECO Energy Inc.	3	45
	UGI Corp.	2	40
	Wisconsin Energy Corp.	1	54
	Xcel Energy Inc.	2	51
			2,173
	Total Securities Sold Short - 29.1% (proceeds $26,579)		$        29,212

JNL/Eagle Core Equity Fund
COMMON STOCKS - 88.7%
CONSUMER DISCRETIONARY - 15.6%
	Comcast Corp. - Class A		113	$          2,126
	Home Depot Inc.		86	2,788
	Macy's Inc.		202	4,398
	Omnicom Group Inc.		118	4,570
	Staples Inc.		261	6,113
	Viacom Inc. - Class B (c)		132	4,535
				24,530
CONSUMER STAPLES - 2.0%
	Wal-Mart Stores Inc.		56	3,095
ENERGY - 11.3%
	BP Plc - ADR		75	4,276
	ConocoPhillips		86	4,404
	EOG Resources Inc.		37	3,448
	Exxon Mobil Corp.		36	2,378
	Schlumberger Ltd.		53	3,356
				17,862
FINANCIALS - 14.2%
	Bank of America Corp.		366	6,531
	Goldman Sachs Group Inc.		22	3,723
	JPMorgan Chase & Co.		70	3,120
	MetLife Inc.		62	2,685
	Wells Fargo & Co.		206	6,398
				22,457
HEALTH CARE - 13.1%
	Covidien Plc		58	2,900
	Johnson & Johnson		86	5,582
	Pfizer Inc.		312	5,358
	UnitedHealth Group Inc.		111	3,612
	Zimmer Holdings Inc. (c)		53	3,141
				20,593
INDUSTRIALS - 9.2%
	General Electric Co.		184	3,346
	PACCAR Inc. (e)		81	3,492
	Tyco International Ltd.		137	5,244
	United Technologies Corp.		34	2,487
				14,569
INFORMATION TECHNOLOGY - 21.7%
	Activision Blizzard Inc. (c)		261	3,151
	Adobe Systems Inc. (c)		90	3,185
	Applied Materials Inc.		398	5,364
	Autodesk Inc. (c)		126	3,703
	Cisco Systems Inc. (c)		103	2,684
	Electronic Arts Inc. (c)		87	1,631
	EMC Corp. (c)		173	3,128
	Microsoft Corp.		171	4,993
	QUALCOMM Inc.		76	3,196
	Texas Instruments Inc.		131	3,205
				34,240
TELECOMMUNICATION SERVICES - 1.6%
	Sprint Nextel Corp. (c)		668	2,536
	Total Common Stocks (cost $128,056)			139,882
INVESTMENT FUNDS - 2.9%
	Materials Select Sector SPDR Fund (e)		135	4,569
	Total Investment Funds (cost $4,362)			4,569
NON-U.S. GOVERNMENT AGENCY ASSET-BACKED SECURITIES - 0.0%
	Sigma Finance, Inc. (d) (f) (u)		$                    2	-
	Total Non-U.S. Government Agency Asset-Backed Securities (cost $2)			-
SHORT TERM INVESTMENTS - 11.9%
Mutual Funds - 9.0%
	JNL Money Market Fund, 0.03% (a) (h)		14,285	14,285
Securities Lending Collateral - 2.9%
	Securities Lending Cash Collateral Fund LLC, 0.24% (a) (h)		4,512	4,512
	Total Short Term Investments (cost $18,797)			18,797
Total Investments - 103.5% (cost $151,217)				163,248
Other Assets and Liabilities, Net -  (3.5%)				(5,517)
Total Net Assets - 100%				$      157,731
JNL/Eagle SmallCap Equity Fund
COMMON STOCKS - 98.3%
CONSUMER DISCRETIONARY - 18.5%
	American Axle & Manufacturing Holdings Inc. (c)		348	$          3,474
	ArvinMeritor Inc. (c)		249	3,324
	Bally Technologies Inc. (c)		148	6,002
	BJ's Restaurants Inc. (c)		264	6,150
	Chico's FAS Inc. (c)		222	3,207
	Choice Hotels International Inc.		42	1,461
	Coinstar Inc. (c) (e)		173	5,612
	Genesco Inc. (c)		293	9,076
	Shuffle Master Inc. (c)		451	3,697
	Sotheby's - Class A		152	4,719
	Steven Madden Ltd. (c)		48	2,331
	Universal Electronics Inc. (c)		242	5,413
	Vitamin Shoppe Inc. (c)		165	3,703
				58,169
CONSUMER STAPLES - 1.0%
	Herbalife Ltd.		65	2,994
ENERGY - 7.2%
	Brigham Exploration Co. (c)		190	3,024
	Lufkin Industries Inc.		102	8,050
	OYO Geospace Corp. (c)		114	5,454
	Unit Corp. (c)		43	1,820
	Whiting Petroleum Corp. (c)		53	4,312
				22,660
FINANCIALS - 6.6%
	Broadpoint Gleacher Securities Inc. (c) (e)		345	1,381
	Cash America International Inc.		234	9,246
	Duff & Phelps Corp. - Class A		164	2,743
	First Commonwealth Financial Corp.		249	1,672
	optionsXpress Holdings Inc. (c)		99	1,608
	Redwood Trust Inc.		156	2,398
	UMB Financial Corp.		43	1,754
				20,802
HEALTH CARE - 23.2%
	Amedisys Inc. (c) (e)		90	4,959
	American Medical Systems Holdings Inc. (c)		305	5,674
	BioMarin Pharmaceutical Inc. (c) (e)		160	3,738
	Bio-Rad Laboratories Inc. - Class A (c)		26	2,708
	Centene Corp. (c)		143	3,442
	Cubist Pharmaceuticals Inc. (c)		64	1,450
	Cutera Inc. (c)		149	1,545
	Eclipsys Corp. (c)		297	5,903
	Genoptix Inc. (c) (e)		128	4,535
	Icon Plc - ADR (c)		130	3,437
	Lincare Holdings Inc. (c)		95	4,281
	MedAssets Inc. (c)		175	3,677
	Onyx Pharmaceuticals Inc. (c)		99	2,984
	Psychiatric Solutions Inc. (c)		144	4,289
	Quality Systems Inc. (e)		65	4,016
	Regeneron Pharmaceuticals Inc. (c) (e)		87	2,294
	Salix Pharmaceuticals Ltd. (c)		22	811
	Seattle Genetics Inc. (c)		140	1,672
	Thoratec Corp. (c) (e)		250	8,347
	Vital Images Inc. (c)		115	1,866
	Vivus Inc. (c) (e)		156	1,363
				72,991
INDUSTRIALS - 10.6%
	Geo Group Inc. (c)		266	5,267
	GrafTech International Ltd. (c)		243	3,324
	Landstar System Inc.		132	5,546
	MasTec Inc. (c)		88	1,111
	Northwest Pipe Co. (c)		130	2,831
	Regal-Beloit Corp.		83	4,922
	Ritchie Bros. Auctioneers Inc. (e)		232	5,003
	Waste Connections Inc. (c)		155	5,275
				33,279
INFORMATION TECHNOLOGY - 27.5%
	Ansys Inc. (c) (e)		136	5,852
	Coherent Inc. (c)		144	4,618
	Compellent Technologies Inc. (c)		222	3,905
	DTS Inc. (c)		164	5,578
	EMS Technologies Inc. (c)		242	4,010
	FormFactor Inc. (c) (e)		340	6,033
	Informatica Corp. (c) (e)		229	6,161
	Monster Worldwide Inc. (c) (e)		222	3,692
	Netezza Corp. (c)		305	3,899
	ON Semiconductor Corp. (c)		609	4,876
	Radiant Systems Inc. (c)		107	1,526
	Riverbed Technology Inc. (c)		136	3,865
	Rovi Corp. (c)		224	8,323
	SuccessFactors Inc. (c)		147	2,802
	Teradyne Inc. (c)		405	4,522
	TIBCO Software Inc. (c)		556	5,995
	Varian Semiconductor Equipment Associates Inc. (c)		206	6,838
	Veeco Instruments Inc. (c) (e)		91	3,967
				86,462
MATERIALS - 3.7%
	Huntsman Corp.		577	6,950
	Titanium Metals Corp. (c)		284	4,711
				11,661
	Total Common Stocks (cost $252,242)			309,018
NON-U.S. GOVERNMENT AGENCY ASSET-BACKED SECURITIES - 0.0%
	Sigma Finance, Inc. (d) (f) (u)		$             1,272	54
	Total Non-U.S. Government Agency Asset-Backed Securities (cost $1,272)			54
SHORT TERM INVESTMENTS - 12.9%
Mutual Funds - 1.8%
	JNL Money Market Fund, 0.03% (a) (h)		5,571	5,571
Securities Lending Collateral - 11.1%
	Securities Lending Cash Collateral Fund LLC, 0.24% (a) (h)		24,439	24,439
	Securities Lending Liquidating Fund LLC, 0.38% (a) (h)		10,565	10,565
				35,004
	Total Short Term Investments (cost $40,575)			40,575
Total Investments - 111.2% (cost $294,089)				349,647
Other Assets and Liabilities, Net -  (11.2%)				(35,237)
Total Net Assets - 100%				$      314,410
JNL/Franklin Templeton Founding Strategy Fund (b)
INVESTMENT FUNDS - 100.0%
	JNL/Franklin Templeton Global Growth Fund (74.6%) (a)		39,303	$      304,600
	JNL/Franklin Templeton Income Fund (38.6%) (a)		32,135	307,536
	JNL/Franklin Templeton Mutual Shares Fund (61.2%) (a)		36,794	293,988
	Total Investment Funds (cost $1,026,398)			906,124
Total Investments - 100.0% (cost $1,026,398)				906,124
Other Assets and Liabilities, Net - 0.0%				(89)
Total Net Assets - 100%				$      906,035
JNL/Franklin Templeton Global Growth Fund
COMMON STOCKS - 93.1%
CONSUMER DISCRETIONARY - 17.0%
	Accor SA		34	$          1,882
	Bayerische Motoren Werke AG		55	2,550
	Chico's FAS Inc. (c)		139	2,004
	Comcast Corp. - Class A		30	565
	Comcast Corp. - Special Class A		355	6,382
	Compagnie Generale des Etablissements Michelin		31	2,257
	Compass Group Plc		141	1,124
	Expedia Inc. (c)		74	1,845
	Home Depot Inc.		62	1,990
	Hyundai Motor Co.		40	4,087
	Inditex SA		31	2,029
	Kingfisher Plc		920	2,992
	News Corp. - Class A		473	6,815
	Pearson Plc		253	3,976
	Reed Elsevier NV		171	2,072
	Target Corp.		41	2,150
	Time Warner Cable Inc.		68	3,618
	Time Warner Inc.		114	3,558
	Toyota Motor Corp.		75	2,984
	USS Co. Ltd.		19	1,307
	Viacom Inc. - Class B (c)		111	3,823
	Vivendi SA		204	5,462
	Walt Disney Co.		110	3,842
				69,314
CONSUMER STAPLES - 2.5%
	CVS Caremark Corp.		86	3,161
	Nestle SA		77	3,953
	Premier Foods Plc (c)		1,459	702
	Tesco Plc		360	2,380
				10,196
ENERGY - 8.2%
	Baker Hughes Inc.		24	1,133
	BG Group Plc		129	2,230
	BP Plc		520	4,916
	Chevron Corp.		34	2,574
	ENI SpA		150	3,517
	Gazprom OAO - ADR		70	1,621
	Halliburton Co.		77	2,323
	Royal Dutch Shell Plc - Class B		198	5,447
	SBM Offshore NV		74	1,488
	StatoilHydro ASA		83	1,917
	Total SA		108	6,261
				33,427
FINANCIALS - 12.5%
	ACE Ltd.		49	2,580
	American Express Co.		66	2,710
	Aviva Plc		705	4,124
	AXA SA		106	2,348
	Bank of America Corp.		1	11
	Bank of New York Mellon Corp.		67	2,071
	Cheung Kong Holdings Ltd.		122	1,571
	DBS Group Holdings Ltd.		207	2,116
	HSBC Holdings Plc (e)		288	2,936
	ICICI Bank Ltd. - ADR (e)		50	2,147
	ING Groep NV (c)		338	3,379
	Intesa Sanpaolo SpA (c)		678	2,525
	JPMorgan Chase & Co.		37	1,663
	KB Financial Group Inc. - ADR (c) (e)		49	2,328
	Muenchener Rueckversicherungs AG		19	3,157
	Progressive Corp. (c)		172	3,291
	RenaissanceRe Holdings Ltd.		37	2,092
	Standard Life Plc		302	917
	Swire Pacific Ltd.		153	1,841
	Swiss Reinsurance		42	2,053
	Torchmark Corp.		30	1,605
	UBS AG (c)		66	1,077
	UniCredit SpA (c)		795	2,348
				50,890
HEALTH CARE - 16.4%
	Abbott Laboratories		35	1,839
	Amgen Inc. (c)		160	9,577
	Biogen Idec Inc. (c)		32	1,850
	Boston Scientific Corp. (c)		157	1,136
	Bristol-Myers Squibb Co.		61	1,625
	Covidien Plc		123	6,187
	GlaxoSmithKline Plc		294	5,645
	Lonza Group AG (e)		25	2,042
	Medtronic Inc.		53	2,378
	Merck & Co. Inc.		140	5,234
	Merck KGaA (e)		23	1,869
	Novartis AG		91	4,899
	Pfizer Inc.		390	6,689
	Quest Diagnostics Inc.		64	3,732
	Roche Holding AG		31	5,021
	Sanofi-Aventis SA		99	7,368
				67,091
INDUSTRIALS - 11.0%
	Adecco SA (e)		38	2,148
	Alstom SA		19	1,188
	BAE Systems Plc		330	1,859
	Brambles Ltd. (e)		263	1,776
	Deutsche Post AG		130	2,249
	Empresa Brasileira de Aeronautica SA - ADR (e)		41	980
	FedEx Corp.		48	4,485
	General Electric Co.		222	4,047
	Hays Plc		165	271
	Koninklijke Philips Electronics NV (e)		88	2,817
	Randstad Holding NV (c)		49	2,352
	Shanghai Electric Group Co. Ltd.		2,294	1,117
	Siemens AG		58	5,804
	Tyco International Ltd.		133	5,103
	United Parcel Service Inc. - Class B		81	5,235
	Wolseley Plc (c)		140	3,383
				44,814
INFORMATION TECHNOLOGY - 16.7%
	Accenture Plc		247	10,378
	Cisco Systems Inc. (c)		230	5,993
	Dell Inc. (c)		173	2,597
	Flextronics International Ltd. (c)		254	1,992
	FUJIFILM Holdings Corp.		49	1,695
	Konica Minolta Holdings Inc. (e)		118	1,371
	Microsoft Corp.		336	9,833
	Nintendo Co. Ltd. (e)		3	971
	Oracle Corp.		413	10,614
	Samsung Electronics Co. Ltd. - GDR		17	6,214
	SAP AG		86	4,156
	Seagate Technology Inc. (c)		152	2,766
	Taiwan Semiconductor Manufacturing Co. Ltd. - ADR		381	3,999
	Telefonaktiebolaget LM Ericsson - Class B		230	2,420
	Tyco Electronics Ltd.		117	3,226
				68,225
MATERIALS - 1.9%
	Alcoa Inc.		142	2,022
	CRH Plc		106	2,650
	Svenska Cellulosa AB (c)		112	1,573
	Vale SA - ADR (e)		58	1,604
				7,849
TELECOMMUNICATION SERVICES - 6.9%
	AT&T Inc.		37	952
	China Telecom Corp. Ltd. - ADR (e)		33	1,641
	France Telecom SA		218	5,218
	Singapore Telecommunications Ltd.		2,399	5,436
	Sprint Nextel Corp. (c)		480	1,825
	Telefonica SA		123	2,916
	Telekom Austria AG		160	2,238
	Turkcell Iletisim Hizmet AS - ADR		98	1,468
	Vodafone Group Plc		2,812	6,486
				28,180
	Total Common Stocks (cost $412,903)			379,986
NON-U.S. GOVERNMENT AGENCY ASSET-BACKED SECURITIES - 0.0%
	Sigma Finance, Inc. (d) (f) (u)		$                527	22
	Total Non-U.S. Government Agency Asset-Backed Securities (cost $527)			22
SHORT TERM INVESTMENTS - 11.2%
Mutual Funds - 6.7%
	JNL Money Market Fund, 0.03% (a) (h)		27,378	27,378
Securities Lending Collateral - 4.5%
	Securities Lending Cash Collateral Fund LLC, 0.24% (a) (h)		16,067	16,067
	Securities Lending Liquidating Fund LLC, 0.38% (a) (h)		2,412	2,412
				18,479
	Total Short Term Investments (cost $45,857)			45,857
Total Investments - 104.3% (cost $459,287)				425,865
Other Assets and Liabilities, Net -  (4.3%)				(17,383)
Total Net Assets - 100%				$      408,482
JNL/Franklin Templeton Income Fund
COMMON STOCKS - 31.2%
CONSUMER DISCRETIONARY - 1.2%
	Charter Communications Inc. (c)		58	$          2,008
	Comcast Corp. - Class A		100	1,882
	Dex One Corp. (c)		106	2,969
	SuperMedia Inc. (c)		4	149
	Target Corp.		55	2,893
				9,901
CONSUMER STAPLES - 0.7%
	Diageo Plc		150	2,518
	PepsiCo Inc.		40	2,646
				5,164
ENERGY - 4.7%
	Callon Petroleum Co. (c)		75	402
	Canadian Oil Sands Trust		325	9,744
	ConocoPhillips		200	10,234
	Exxon Mobil Corp.		200	13,396
	Spectra Energy Corp.		165	3,708
				37,484
FINANCIALS - 5.5%
	Bank of America Corp.		600	10,710
	Barclays Plc		150	820
	Capital One Financial Corp.		163	6,750
	Citigroup Inc. (c)		894	3,623
	HSBC Holdings Plc		300	3,041
	iStar Financial Inc. (c) (e)		85	389
	JPMorgan Chase & Co.		200	8,950
	Wells Fargo & Co.		300	9,324
				43,607
HEALTH CARE - 2.4%
	Abbott Laboratories		32	1,696
	Johnson & Johnson		75	4,890
	Merck & Co. Inc.		340	12,699
				19,285
INFORMATION TECHNOLOGY - 1.9%
	Intel Corp.		300	6,678
	Maxim Integrated Products Inc. (e)		200	3,878
	Xerox Corp.		300	2,925
	Xilinx Inc.		80	2,040
				15,521
MATERIALS - 1.1%
	Barrick Gold Corp.		50	1,917
	Newmont Mining Corp.		110	5,602
	Nucor Corp.		20	908
				8,427
TELECOMMUNICATION SERVICES - 2.2%
	AT&T Inc.		300	7,752
	Verizon Communications Inc.		110	3,412
	Vodafone Group Plc		2,750	6,343
				17,507
UTILITIES - 11.5%
	AGL Resources Inc.		100	3,865
	Ameren Corp.		185	4,825
	American Electric Power Co. Inc.		148	5,048
	American Water Works Co. Inc.		24	529
	Consolidated Edison Inc.		80	3,563
	Dominion Resources Inc.		150	6,166
	Duke Energy Corp.		450	7,344
	FirstEnergy Corp.		50	1,954
	FPL Group Inc.		155	7,491
	NiSource Inc. (e)		40	632
	PG&E Corp.		200	8,484
	Pinnacle West Capital Corp.		100	3,773
	Progress Energy Inc. (e)		115	4,526
	Public Service Enterprise Group Inc.		200	5,904
	Sempra Energy		120	5,988
	Southern Co.		325	10,777
	TECO Energy Inc. (e)		200	3,178
	Xcel Energy Inc.		350	7,420
				91,467
	Total Common Stocks (cost $263,537)			248,363
PREFERRED STOCKS - 5.9%
CONSUMER DISCRETIONARY - 0.1%
	General Motors Corp., 6.25%, Series C (callable at 25.83 beginning 07/20/10) (d)		100	858
FINANCIALS - 5.4%
	Bank of America Corp., Convertible Preferred, 7.25%, Series L (p)		8	8,161
	Barclays Bank Plc, 8.00%, 09/10/10		250	2,893
	Citigroup Inc. 7.50%, 12/15/12		60	7,313
	Credit Suisse, Convertible Preferred, 11.00%, 09/03/10		125	2,066
	Deutsche Bank AG, 12.00% (t)		90	2,277
	Federal Home Loan Mortgage Corp., 8.38%, Series Z (callable at 25 on 12/31/12) (d) (p)		186	236
	Federal National Mortgage Association, 6.75%, Series Q (callable at 25 beginning 09/30/10) (d) (p)		100	93
	Federal National Mortgage Association, 7.63%, Series R (callable at 25 beginning 11/21/12) (d) (p)		143	158
	Federal National Mortgage Association, 8.25%, Series S (callable at 25 on 12/31/10) (d) (p)		65	82
	Federal National Mortgage Association, Convertible Preferred, 8.75%, 05/13/11 (d)		91	145
	Federal National Mortgage Association, 5.38% (callable at 105,000 on 06/01/10) (d) (p)		-	150
	FelCor Lodging Trust Inc., Convertible Preferred, 1.95%, Series A (p)		60	1,067
	GMAC Inc., 7.00% (callable at 1,000 beginning 12/31/11) (p) (t)		2	1,407
	Goldman Sachs Group Inc., Convertible Preferred, 10.55%, 07/21/10		40	2,409
	Goldman Sachs Group Inc., Convertible Preferred, 12.50%, 04/01/10 (t)		80	3,103
	Goldman Sachs Group Inc., Convertible Preferred, 9.00%, 08/20/10		60	2,754
	Wells Fargo & Co., Convertible Preferred, 7.50%, Series L (p)		9	8,304
				42,618
HEALTH CARE - 0.3%
	Tenet Healthcare Corp., 7.00%, 10/01/12		2	2,056
UTILITIES - 0.1%
	FPL Group Inc., 8.38%		20	1,003
	Total Preferred Stocks (cost $63,248)			46,535
WARRANTS - 0.0%
	Charter Communications LLC, 11/30/14 (c)		30	159
	Total Warrants (cost $106)			159
NON-U.S. GOVERNMENT AGENCY ASSET-BACKED SECURITIES - 0.1%
	Dynegy Roseton Pass Through Trust, 7.67%, 11/08/16		$             1,000	972
	Sigma Finance, Inc. (d) (f) (u)		1,285	55
	Total Non-U.S. Government Agency Asset-Backed Securities (cost $2,265)			1,027
CORPORATE BONDS AND NOTES - 58.0%
CONSUMER DISCRETIONARY - 8.0%
	Cablevision Systems Corp., 8.00%, 04/15/12 (e) (k)		4,500	4,809
	Cablevision Systems Corp., 8.63%, 09/15/17 (t)		1,000	1,058
	CCH II LLC, 13.50%, 11/30/16 (t)		5,134	6,122
	Cequel Communications Holdings I LLC, 8.63%, 11/15/17 (t)		2,500	2,569
	Clear Channel Communications Inc. Term Loan B, 4.79%, 11/13/15 (i) (u)		6,775	5,515
	Clear Channel Worldwide Holdings Inc., 9.25%, 12/15/17 (e) (t)		400	416
	Clear Channel Worldwide Holdings Inc., 9.25%, 12/15/17 (t)		1,600	1,672
	DISH DBS Corp., 7.75%, 05/31/15		5,000	5,225
	Dollar General Corp., 10.63%, 07/15/15		3,771	4,139
	Dollar General Corp., 11.88%, 07/15/17		1,350	1,573
	General Motors Corp., 8.38%, 07/15/33 (d) (e)		1,200	450
	Harrah's Operating Co. Inc., 11.25%, 06/01/17 (e)		750	808
	Hertz Corp., 8.88%, 01/01/14		7,000	7,192
	Hertz Corp., 10.50%, 01/01/16 (e)		1,250	1,342
	Jarden Corp., 8.00%, 05/01/16		300	314
	JohnsonDiversey Holdings Inc., 10.50%, 05/15/20 (t)		1,600	1,744
	JohnsonDiversey Inc., 8.25%, 11/15/19 (t)		2,500	2,588
	KB Home, 5.75%, 02/01/14		2,000	1,940
	Liberty Global Inc., 4.50%, 11/15/16 (t)		2,000	2,570
	MGM Mirage Inc., 6.75%, 04/01/13		2,900	2,624
	Univision Communications Inc., 12.00%, 07/01/14 (t)		500	548
	Univision Communications Inc., 9.75%, 03/15/15 (t)		4,154	3,583
	US Investigations Services Inc., Term Loan, 3.52%, 04/01/15 (i) (u)		2,902	2,699
	Wyndham Worldwide Corp., 9.88%, 05/01/14 (l)		2,000	2,271
				63,771
CONSUMER STAPLES - 0.5%
	JBS USA LLC, 11.63%, 05/01/14 (e) (t)		1,000	1,140
	SUPERVALU Inc., 8.00%, 05/01/16		2,000	2,025
	Wendy's/Arby's Group Inc., 10.00%, 07/15/16 (e)		750	806
				3,971
ENERGY - 11.9%
	Antero Resources Finance Corp., 9.38%, 12/01/17 (e) (t)		2,000	2,060
	Bill Barrett Corp., 9.88%, 07/15/16		200	216
	Callon Petroleum Co., 13.00%, 09/15/16		1,500	1,275
	Calpine Generating Co. LLC, 8.00%, 06/01/16 (e) (t)		1,750	1,789
	Chesapeake Energy Corp., 9.50%, 02/15/15 (e)		2,500	2,719
	Chesapeake Energy Corp., 6.50%, 08/15/17 (e)		4,000	3,870
	Chesapeake Energy Corp., 6.25%, 01/15/18		2,200	2,096
	Chesapeake Energy Corp., 7.25%, 12/15/18 (e)		5,000	5,000
	Consol Energy Inc., 8.25%, 04/01/20 (t)		1,600	1,644
	Denbury Resources Inc., 8.25%, 02/15/20		700	742
	El Paso Corp., 12.00%, 12/12/13		1,600	1,872
	El Paso Corp., 7.25%, 06/01/18 (e)		4,100	4,231
	El Paso Corp., 7.75%, 01/15/32		1,000	983
	Expro Finance Luxembourg SCA, 8.50%, 12/15/16 (t)		2,700	2,727
	Forrest Oil Corp., 8.50%, 02/15/14		3,500	3,692
	Linn Energy LLC, 8.63%, 04/15/20 (t)		3,300	3,218
	Mariner Energy Inc., 7.50%, 04/15/13 (e)		2,000	2,015
	Newfield Exploration Co., 6.63%, 04/15/16		2,500	2,544
	Newfield Exploration Co., 6.88%, 02/01/20		2,000	2,015
	PetroHawk Energy Corp., 10.50%, 08/01/14		2,000	2,208
	PetroHawk Energy Corp., 7.88%, 06/01/15		3,200	3,260
	Pioneer Natural Resources Co., 6.65%, 03/15/17		1,500	1,500
	Pioneer Natural Resources Co., 6.88%, 05/01/18		2,000	1,999
	Plains Exploration & Production Co., 7.75%, 06/15/15		1,500	1,521
	Plains Exploration & Production Co., 10.00%, 03/01/16 (e)		1,500	1,658
	Quicksilver Resources Inc., 11.75%, 01/01/16		1,300	1,488
	Sabine Pass LNG LP, 7.25%, 11/30/13 (e)		1,350	1,269
	Sabine Pass LNG LP, 7.50%, 11/30/16 (e)		2,500	2,206
	SandRidge Energy Inc., 3.92%, 04/01/14 (e) (i)		2,000	1,833
	SandRidge Energy Inc., 9.88%, 05/15/16 (e) (t)		2,600	2,672
	SandRidge Energy Inc., 8.00%, 06/01/18 (e) (t)		2,500	2,375
	SEACOR Holdings Inc., 7.38%, 10/01/19		1,000	1,029
	SESI LLC, 6.88%, 06/01/14		1,370	1,343
	Texas Competitive Electric Holdings Co. LLC, Term Loan, 4.53%, 10/24/14 (i) (u)		1,975	1,627
	Texas Competitive Electric Holdings Co. LLC, Term Loan, 4.53%, 10/24/14 (i) (u)		4,560	3,757
	Texas Competitive Electric Holdings Co. LLC, Term Loan, 4.60%, 10/24/14 (i) (u)		352	290
	Texas Competitive Electric Holdings Co. LLC, 10.25%, 11/01/15 (e) (k)		10,000	6,950
	Texas Competitive Electric Holdings Co. LLC, 10.25%, 11/01/15 (k)		6,500	4,518
	Texas Competitive Electric Holdings Co. LLC, 10.50%, 11/01/16 (e)		5,000	3,425
	W&T Offshore Inc., 8.25%, 6/15/14 (t)		3,000	2,805
				94,441
FINANCIALS - 15.5%
	Allison Term Loan, 3.12%, 08/07/14 (i) (u)		165	157
	Allison Term Loan, 3.14%, 08/07/14 (i) (u)		1,775	1,695
	Bank of America Corp., 8.13% (callable at 100 beginning 05/15/18) (p)		1,000	1,020
	CapitalSource Inc., 4.00%, 07/15/34 (k)		2,500	2,394
	CEVA Group Plc, 11.50%, 04/01/18 (t)		3,600	3,735
	Duke Realty Corp., 5.95%, 02/15/17		1,500	1,475
	Felcor Lodging LP, 10.00%, 10/01/14 (e)		1,700	1,751
	Ford Motor Credit Co. LLC, 9.88%, 08/10/11		1,000	1,061
	Ford Motor Credit Co. LLC, 7.25%, 10/25/11		2,000	2,068
	Ford Motor Credit Co. LLC, 3.05%, 01/13/12 (i)		15,500	15,054
	Ford Motor Credit Co. LLC, 7.00%, 10/01/13		4,000	4,139
	Ford Motor Credit Co. LLC, 8.00%, 06/01/14 (e)		2,500	2,632
	Ford Motor Credit Co. LLC, 8.70%, 10/01/14 (e)		5,000	5,422
	Ford Motor Credit Co. LLC, 12.00%, 05/15/15 (e)		3,000	3,584
	GMAC Inc., 6.88%, 09/15/11		6,032	6,130
	GMAC Inc., 8.00%, 03/15/20 (t)		4,500	4,612
	HCP Inc., 6.70%, 01/30/18 (e)		1,500	1,529
	Host Hotels & Resorts LP, 6.88%, 11/01/14		1,500	1,515
	Host Hotels & Resorts LP, 6.38%, 03/15/15		3,500	3,474
	Host Hotels & Resorts LP, 6.75%, 06/01/16 (e)		1,000	1,002
	Host Hotels & Resorts LP, 9.00%, 05/15/17 (t)		600	648
	Icahn Enterprises LP, 7.75%, 01/15/16 (e) (t)		2,250	2,166
	Icahn Enterprises LP, 8.00%, 01/15/18 (e) (t)		2,000	1,928
	International Lease Finance Corp., 8.63%, 09/15/15 (e) (t)		700	716
	International Lease Finance Corp., 8.75%, 03/15/17 (t)		2,000	2,046
	iStar Financial Inc., 0.79%, 10/01/12 (i)		4,500	3,422
	iStar Financial Inc., 8.63%, 06/01/13		5,000	4,275
	JPMorgan Chase & Co., 7.90% (callable at 100 beginning 04/30/18) (p)		11,500	12,260
	LBI Escrow Corp., 8.00%, 11/01/17 (t)		2,200	2,282
	Liberty Mutual Group Inc., 10.75%, 06/15/58 (i) (t)		5,000	5,600
	New Communications Holdings Inc., 8.25%, 04/15/17 (t)		800	814
	New Communications Holdings Inc., 8.50%, 04/15/20 (t)		900	907
	Petroplus Finance Ltd., 6.75%, 05/01/14 (t)		1,000	900
	Petroplus Finance Ltd., 7.00%, 05/01/17 (e) (t)		1,000	860
	Petroplus Finance Ltd., 9.38%, 09/15/19 (e) (t)		2,000	1,820
	RBS Global & Rexnord LLC, 9.50%, 08/01/14		1,250	1,300
	Reynolds Group Inc., 7.75%, 10/15/16 (t)		1,250	1,284
	SuperMedia Inc., Term Loan, 11.65%, 12/31/15 (i) (u)		787	743
	SuperMedia Inc. Escrow Litigation Trust, 12/31/15 (f)		868	15
	UPC Germany GmbH, 8.13%, 12/01/17 (e) (t)		2,100	2,166
	UPC Germany GmbH, 8.13%, 12/01/17 (t)	EUR	2,750	3,835
	UPC Germany GmbH, 9.63%, 12/01/19 (t)	EUR	1,500	2,117
	Washington Mutual Preferred Funding LLC, 9.75%, (callable at 100 on 12/15/17) (d) (p) (t)		1,500	43
	Wells Fargo Capital XIII, 7.70% (callable at 100 on 03/26/13) (p)		900	929
	Wells Fargo Capital XV, 9.75% (callable at 100 on 09/26/13) (e) (p)		5,000	5,600
				123,125
HEALTH CARE - 6.7%
	Community Health Systems Inc., 8.88%, 07/15/15		5,000	5,175
	DaVita Inc., 6.63%, 03/15/13		1,500	1,509
	DaVita Inc., 7.25%, 03/15/15		600	612
	HCA Inc., 6.38%, 01/15/15 (e)		1,500	1,425
	HCA Inc., 6.50%, 02/15/16		1,500	1,423
	HCA Inc., 9.25%, 11/15/16		3,500	3,721
	HCA Inc., 8.50%, 04/15/19 (t)		6,000	6,454
	HCA Inc., 7.88%, 02/15/20 (t)		6,000	6,281
	Quintiles Transnational Corp., 9.50%, 12/30/14 (t)		4,000	4,080
	Talecris Biotherapeutics Holdings Corp., 7.75%, 11/15/16 (e) (t)		600	603
	Tenet Healthcare Corp., 7.38%, 02/01/13		3,000	3,030
	Tenet Healthcare Corp., 9.25%, 02/01/15 (e) (k)		5,000	5,244
	Tenet Healthcare Corp., 9.00%, 05/01/15 (e) (t)		3,500	3,771
	Tenet Healthcare Corp., 10.00%, 05/01/18 (t)		3,500	3,920
	US Oncology Holdings Inc., 6.64%, 03/15/12 (i)		2,998	2,840
	Vanguard Health Holding Co. II LLC, 8.00%, 02/01/18 (e) (t)		3,700	3,598
				53,686
INDUSTRIALS - 3.2%
	Bombardier Inc., 7.75%, 03/15/20 (t)		3,500	3,658
	Ceridian Corp., 11.25%, 11/15/15 (k)		4,000	3,830
	Manitowoc Co. Inc., 9.50%, 02/15/18 (e)		1,000	1,042
	Navistar International Corp., 8.25%, 11/01/21		1,500	1,530
	Niska Gas Storage US LLC, 8.88%, 03/15/18 (t)		2,500	2,556
	Novelis Inc., Term Loan, 2.32%, 07/07/14 (i) (u)		474	460
	RBS Global & Rexnord LLC., 9.50%, 08/01/14 (t)		1,978	2,057
	RBS Global & Rexnord LLC, 11.75%, 08/01/16		1,500	1,609
	Severstal Columbus LLC, 10.25%, 02/15/18 (e) (t)		5,000	5,256
	Terex Corp., 8.00%, 11/15/17 (e)		2,000	1,945
	United Rentals Inc., 7.75%, 11/15/13 (e)		2,000	1,920
				25,863
INFORMATION TECHNOLOGY - 5.7%
	Advanced Micro Devices Inc., 5.75%, 08/15/12		260	259
	Advanced Micro Devices Inc., 5.75%, 08/15/12 (t)		1,041	1,037
	Advanced Micro Devices Inc., 6.00%, 05/01/15		1,000	959
	Advanced Micro Devices Inc., 8.13%, 12/15/17 (e) (t)		1,000	1,030
	First Data Corp., Term Loan, 3.42%, 09/24/14 (i) (u)		1,647	1,459
	First Data Corp., Term Loan, 3.42%, 09/24/14 (i) (u)		215	190
	First Data Corp., Term Loan, 3.42%, 09/24/14 (i) (u)		1,870	1,658
	First Data Corp., Term Loan, 3.42%, 09/24/14 (i) (u)		1,845	1,635
	First Data Corp., Term Loan, 3.43%, 09/24/14 (i) (u)		5	4
	First Data Corp., Term Loan, 3.43%, 09/24/14 (i) (u)		93	83
	First Data Corp., Term Loan, 3.43%, 09/24/14 (i) (u)		195	173
	First Data Corp., 9.88%, 09/24/15		4,000	3,410
	First Data Corp., 9.88%, 09/24/15 (e)		5,500	4,744
	Freescale Semiconductor Inc., 8.88%, 12/15/14 (e)		7,000	6,685
	Freescale Semiconductor Inc., Term Loan, 12.11%, 12/15/14 (i) (u)		3,864	3,988
	Freescale Semiconductor Inc., 10.13%, 12/15/16		850	752
	Freescale Semiconductor Inc., 10.13%, 03/15/18 (e) (t)		7,500	8,072
	IMS Health Inc., 12.50%, 03/01/18 (t)		3,000	3,491
	Sanmina-SCI Corp., 6.75%, 03/01/13		1,200	1,200
	Sanmina-SCI Corp., 8.13%, 03/01/16 (e)		1,500	1,509
	Sungard Data Systems Inc., 10.63%, 05/15/15		2,500	2,725
				45,063
MATERIALS - 1.7%
	Hexion US Finance Corp., 8.88%, 02/01/18 (t)		3,000	2,955
	Huntsman International LLC, 5.50%, 06/30/16 (e) (t)		1,000	908
	Ineos Group Holdings Plc, 7.88%, 02/15/16 (t)	EUR	3,250	3,446
	Kerling Plc, 10.63%, 01/28/17 (t)	EUR	3,600	5,105
	Nalco Co., 8.25%, 05/15/17 (t)		300	319
	NewPage Corp., 11.38%, 12/31/14 (e)		1,000	995
				13,728
TELECOMMUNICATION SERVICES - 1.1%
	Clearwire Communications LLC, 12.00%, 12/01/15 (e) (t)		1,500	1,530
	Clearwire Communications LLC, 12.00%, 12/01/15 (t)		2,000	2,035
	Cricket Communications Inc., 9.38%, 11/01/14 (e)		1,000	1,018
	Crown Castle International Corp., 9.00%, 01/15/15		1,000	1,082
	Digicel Group Ltd., 8.88%, 01/15/15 (t)		500	490
	Virgin Media Secured Finance Plc, 7.00%, 01/15/18	GBP	2,000	2,997
				9,152
UTILITIES - 3.7%
	AES Corp., 8.00%, 10/15/17		2,250	2,284
	CMS Energy Corp., 8.75%, 06/15/19 (e)		1,000	1,129
	Dynegy Holdings Inc., 7.50%, 06/01/15 (e)		10,000	8,300
	Dynegy Holdings Inc., 7.75%, 06/01/19		2,000	1,510
	Energy Future Holdings Corp., 10.88%, 11/01/17 (e) (k)		4,000	2,970
	Energy Future Holdings Corp., 11.25%, 11/01/17		8,847	6,016
	Public Service Co. of New Mexico., 7.95%, 05/15/18 (e)		2,500	2,608
	RRI Energy Inc., 7.88%, 06/15/17 (e)		5,000	4,488
				29,305
	Total Corporate Bonds and Notes (cost $455,152)			462,105
GOVERNMENT AND AGENCY OBLIGATIONS - 0.3%
GOVERNMENT SECURITIES - 0.3%
Municipals - 0.3%
	State of California, 7.95%, 03/01/36		2,500	2,561
	Total Government and Agency Obligations (cost $2,503)			2,561
SHORT TERM INVESTMENTS - 18.8%
Mutual Funds - 4.6%
	JNL Money Market Fund, 0.03% (a) (h)		36,878	36,878
Securities Lending Collateral - 14.2%
	Securities Lending Cash Collateral Fund LLC, 0.24% (a) (h)		97,744	97,744
	Securities Lending Liquidating Fund LLC, 0.38% (a) (h)		15,503	15,503
				113,247
	Total Short Term Investments (cost $150,125)			150,125
Total Investments - 114.3% (cost $936,936)				910,875
Other Assets and Liabilities, Net -  (14.3%)				(114,042)
Total Net Assets - 100%				$      796,833

JNL/Franklin Templeton Mutual Shares Fund
COMMON STOCKS - 81.0%
CONSUMER DISCRETIONARY - 5.8%
	Cerberus Capital Management LP (f) (s) (u)		888	$             275
	Cerberus Capital Management LP (f) (s) (u)		444	138
	Cerberus Capital Management LP (f) (s) (u)		888	275
	Daimler AG (c)		44	2,085
	Eastman Kodak Co. (c)		7	39
	Harrah's Investment LP (f) (s) (u)		39	-
	Hillenbrand Inc.		44	970
	Mattel Inc.		244	5,542
	News Corp. - Class A		779	11,225
	Stanley Black & Decker Inc.		4	203
	Thomas Cook Group Plc		121	494
	Time Warner Cable Inc.		42	2,232
	Virgin Media Inc. (e)		263	4,537
				28,015
CONSUMER STAPLES - 23.4%
	Altria Group Inc.		469	9,631
	British American Tobacco Plc		309	10,667
	Brown-Forman Corp. - Class B		31	1,860
	Carlsberg A/S (e)		31	2,599
	Carrefour SA		50	2,424
	Coca-Cola Enterprises Inc.		70	1,926
	CVS Caremark Corp.		395	14,427
	Danone SA		19	1,141
	Dr. Pepper Snapple Group Inc.		246	8,667
	General Mills Inc.		50	3,548
	Imperial Tobacco Group Plc		285	8,697
	Japan Tobacco Inc.		1	3,000
	Kraft Foods Inc. - Class A		304	9,192
	Kroger Co.		249	5,383
	KT&G Corp.		23	1,264
	Lorillard Inc.		19	1,408
	Nestle SA		171	8,776
	PepsiCo Inc.		47	3,124
	Pernod-Ricard SA (e)		70	5,958
	Philip Morris International Inc.		53	2,757
	Reynolds American Inc.		61	3,317
	Wal-Mart Stores Inc.		49	2,736
				112,502
ENERGY - 5.7%
	Baker Hughes Inc.		34	1,582
	Exterran Holdings Inc. (c) (e)		46	1,110
	Marathon Oil Corp.		183	5,795
	Noble Energy Inc.		18	1,328
	Pride International Inc. (c)		63	1,883
	Royal Dutch Shell Plc - Class A (e)		192	5,558
	Total SA		48	2,795
	Transocean Ltd. (c)		88	7,562
				27,613
FINANCIALS - 14.1%
	ACE Ltd.		81	4,259
	Alexander's Inc. (c) (e)		8	2,392
	Alleghany Corp. (c)		5	1,468
	Bank of America Corp.		483	8,616
	Barclays Plc		890	4,866
	Berkshire Hathaway Inc. - Class B (c) (e)		66	5,402
	Bond Street Holding LLC (c) (f)		26	533
	Canary Wharf Group Plc (c) (f) (u)		405	1,920
	Conseco Inc. (c)		97	603
	Deutsche Boerse AG		39	2,870
	Forestar Group Inc. (c)		46	877
	Guaranty Bancorp (c)		49	77
	Intesa Sanpaolo SpA (c)		437	1,627
	Link Real Estate Investment Trust		836	2,060
	Morgan Stanley		187	5,487
	Old Republic International Corp.		200	2,541
	PNC Financial Services Group Inc.		48	2,836
	St. Joe Co. (c) (e)		33	1,052
	Travelers Cos. Inc.		47	2,555
	UBS AG (c)		179	2,917
	Wells Fargo & Co.		172	5,366
	White Mountains Insurance Group Ltd.		14	5,047
	Zurich Financial Services AG		11	2,779
				68,150
HEALTH CARE - 4.6%
	Alcon Inc.		8	1,263
	Becton Dickinson & Co.		4	349
	Boston Scientific Corp. (c)		320	2,313
	Community Health Systems Inc. (c)		60	2,209
	Eli Lilly & Co.		7	250
	Novartis AG		74	4,021
	Tenet Healthcare Corp. (c)		787	4,499
	UnitedHealth Group Inc.		214	6,996
				21,900
INDUSTRIALS - 6.2%
	A P Moller - Maersk A/S Class B		1	4,702
	Alstom SA		37	2,302
	Federal Signal Corp.		96	861
	GenCorp Inc. (c) (e)		59	338
	Orkla ASA		781	6,909
	Owens Corning Inc. (c)		112	2,860
	Siemens AG		64	6,453
	TNT NV		66	1,884
	Tyco International Ltd.		88	3,362
				29,671
INFORMATION TECHNOLOGY - 8.7%
	Dell Inc. (c)		372	5,585
	LSI Corp. (c)		823	5,039
	Maxim Integrated Products Inc.		177	3,438
	Microsoft Corp.		369	10,809
	Motorola Inc. (c)		592	4,156
	Nintendo Co. Ltd. (e)		10	3,315
	Tandberg ASA		15	418
	Tyco Electronics Ltd.		92	2,538
	Xerox Corp.		686	6,692
				41,990
MATERIALS - 5.0%
	Domtar Corp. (c) (e)		38	2,418
	International Paper Co.		176	4,329
	Linde AG		38	4,540
	MeadWestvaco Corp.		117	2,980
	Weyerhaeuser Co.		214	9,698
				23,965
TELECOMMUNICATION SERVICES - 3.4%
	Cable & Wireless Communications Plc		1,730	1,453
	Cable & Wireless Worldwide Plc (c)		1,730	2,415
	Koninklijke KPN NV		226	3,573
	Telefonica SA		95	2,247
	Vodafone Group Plc		2,856	6,588
				16,276
UTILITIES - 4.1%
	Babcock & Brown Infrastructure Group (c)		402	1,347
	E.ON AG		164	6,056
	Entergy Corp.		28	2,263
	Exelon Corp.		96	4,221
	GDF Suez		58	2,245
	NRG Energy Inc. (c)		166	3,460
				19,592
	Total Common Stocks (cost $393,588)			389,674
PREFERRED STOCKS - 0.2%
CONSUMER DISCRETIONARY - 0.2%
	Volkswagen AG		12	1,078
	Total Preferred Stocks (cost $1,025)			1,078
CORPORATE BONDS AND NOTES - 4.5%
CONSUMER DISCRETIONARY - 0.3%
	Cerberus Capital Management LP, 12.00%, 07/31/14 (f) (s) (u) (w)		$                467	145
	Cerberus Capital Management LP, 12.00%, 07/31/14 (f) (s) (u)		780	242
	Cerberus Capital Management LP, 12.00%, 07/31/14 (f) (s) (u)		390	121
	Charter Communications Inc., Incremental Term Loan, 7.51%, 03/06/14 (i) (u)		339	327
	Charter Communications Operating LLC, Term Loan, 2.30%, 03/06/14 (i) (u)		-	-
	Dana Corp., 6.50%, 04/30/10 (f) (u)		72	-
	Dana Corp., 5.85%, 01/15/15 (f) (u)		65	-
	Dana Corp., 7.00%, 03/15/28 (f) (u)		115	-
	Spectrum Brands Inc. Letter of Credit, 1.50%, 04/01/13 (i) (u)		4	4
	Spectrum Brands Inc. Term Loan, 8.49%, 04/01/13 (i) (u)	EUR	220	297
	Spectrum Brands Inc. Term Loan B, 8.74%, 04/01/13 (i) (u)		70	70
	Tropicana Entertainment LLC, 9.63%, 12/15/14 (d)		1,130	1
				1,207
ENERGY - 0.8%
	Boston Generating LLC, Term Loan B, 3.03%, 12/21/13 (i) (u)		245	207
	Boston Generating LLC, Term Loan, 3.03%, 12/21/13 (i) (u)		16	13
	Boston Generating LLC, Term Loan, 3.05%, 12/21/13 (i) (u)		56	47
	Texas Competitive Electric Holdings Co. LLC, Term Loan, 4.70%, 10/10/14 (u)		2,089	1,683
	Texas Competitive Electric Holdings Co. LLC, Term Loan B1, 4.60%, 10/10/14 (i) (u)		1,430	1,178
	Texas Competitive Electric Holdings Co. LLC, Term Loan B2, 4.53%, 10/10/14 (i) (u)		225	185
	Texas Competitive Electric Holdings Co. LLC, Term Loan, 4.57%, 11/01/15 (i) (u)		694	566
				3,879
FINANCIALS - 3.1%
	Avaya Inc., 10/26/14 (u)		3,864	3,453
	CIT Group Inc., Term Loan, 9.26%, 01/20/12 (i) (u)		1,387	1,423
	CIT Group Inc., Term Loan, 12.53%, 01/20/12 (i) (u)		542	562
	CIT Group Inc., 7.00%, 05/01/13 (e)		176	171
	CIT Group Inc., 7.00%, 05/01/14 (e)		264	250
	CIT Group Inc., 7.00%, 05/01/15 (e)		264	246
	CIT Group Inc., 7.00%, 05/01/16 (e)		1,799	1,660
	CIT Group Inc., 7.00%, 05/01/17 (e)		1,343	1,239
	Lyondell Chemical Co., Term Loan, 12.94%, 04/06/10 (i) (u) (w)		54	55
	Realogy Corp., Term Loan, 1.66%, 10/10/13 (i) (u)		1,013	896
	Realogy Corp., Term Loan, 3.67%, 10/10/13 (i) (u)		1,633	1,446
	Realogy Corp., Term Loan, 3.67%, 10/10/13 (i) (u)		3,810	3,373
	Realogy Corp., Term Loan, 13.50%, 10/15/17 (u)		93	103
				14,877
INFORMATION TECHNOLOGY - 0.3%
	First Data Corp., Term Loan, 3.43%, 09/24/14 (i) (u)		1,157	1,026
	First Data Corp., Term Loan, 3.43%, 09/24/14 (i) (u)		110	97
	First Data Corp., Term Loan, 3.43%, 09/24/14 (i) (u)		435	386
				1,509
OTHER EQUITY INTERESTS- 0.0%
	Northwest Airlines Corp., Contingent Distribution (f) (u) (v)		725	-
	Total Corporate Bonds and Notes (cost $23,037)			21,472
SHORT TERM INVESTMENTS - 17.2%
Mutual Funds - 14.2%
	JNL Money Market Fund, 0.03% (a) (h)		68,467	68,467
Securities Lending Collateral - 3.0%
	Securities Lending Cash Collateral Fund LLC, 0.24% (a) (h)		14,167	14,167
	Total Short Term Investments (cost $82,634)			82,634
Total Investments - 102.9% (cost $499,348)				494,858
Other Assets and Liabilities, Net -  (2.9%)				(14,062)
Total Net Assets - 100%				$      480,796
JNL/Franklin Templeton Small Cap Value Fund
COMMON STOCKS - 88.3%
CONSUMER DISCRETIONARY - 19.1%
	Autoliv Inc. (c)		55	$          2,834
	Brown Shoe Co. Inc.		150	2,322
	Brunswick Corp.		111	1,768
	Cato Corp. - Class A		6	123
	Christopher & Banks Corp.		125	1,000
	DR Horton Inc. (e)		93	1,172
	Drew Industries Inc. (c)		13	293
	Ethan Allen Interiors Inc. (e)		30	619
	Fred's Inc.		157	1,881
	Gentex Corp.		121	2,350
	Group 1 Automotive Inc. (c) (e)		92	2,915
	Gymboree Corp. (c)		21	1,100
	Hooker Furniture Corp.		40	638
	J.C. Penney Co. Inc.		56	1,802
	La-Z-Boy Inc. (c)		145	1,817
	M/I Homes Inc. (c)		95	1,392
	MDC Holdings Inc.		39	1,350
	Men's Wearhouse Inc.		102	2,451
	Pier 1 Imports Inc. (c)		76	484
	Regis Corp.		89	1,659
	Saks Inc. (c) (e)		113	973
	Thor Industries Inc.		115	3,462
	Timberland Co. - Class A (c)		32	672
	Tuesday Morning Corp. (c) (e)		166	1,091
	Warnaco Group Inc. (c)		35	1,689
	West Marine Inc. (c)		120	1,302
	Winnebago Industries Inc. (c) (e)		95	1,388
				40,547
CONSUMER STAPLES - 0.7%
	Casey's General Stores Inc.		49	1,526
ENERGY - 9.7%
	Arch Coal Inc.		23	526
	Atwood Oceanics Inc. (c)		50	1,735
	Bristow Group Inc. (c) (e)		65	2,452
	CARBO Ceramics Inc.		2	106
	Global Industries Ltd. (c) (e)		235	1,509
	Helix Energy Solutions Group Inc. (c)		118	1,538
	Oil States International Inc. (c)		50	2,258
	Overseas Shipholding Group Inc.		30	1,177
	Rowan Cos. Inc. (c) (e)		126	3,668
	Teekay Corp.		51	1,167
	Tidewater Inc.		52	2,458
	Unit Corp. (c)		46	1,932
				20,526
FINANCIALS - 12.7%
	American National Insurance Co.		12	1,397
	Arthur J Gallagher & Co.		47	1,156
	Aspen Insurance Holdings Ltd.		96	2,780
	Chemical Financial Corp.		65	1,535
	Erie Indemnity Co. - Class A		35	1,492
	Montpelier Re Holdings Ltd.		127	2,140
	Old Republic International Corp.		265	3,360
	Peoples Bancorp Inc.		2	38
	Protective Life Corp.		193	4,244
	RLI Corp.		22	1,272
	StanCorp Financial Group Inc.		39	1,858
	Tower Group Inc.		96	2,135
	TrustCo Bank Corp. (e)		325	2,005
	Validus Holdings Ltd.		59	1,633
				27,045
HEALTH CARE - 4.9%
	Mettler Toledo International Inc. (c)		21	2,239
	Pharmaceutical Product Development Inc.		97	2,301
	STERIS Corp. (e)		75	2,524
	Teleflex Inc.		32	2,018
	West Pharmaceutical Services Inc.		32	1,334
				10,416
INDUSTRIALS - 26.0%
	ABM Industries Inc. (e)		119	2,519
	Administaff Inc.		12	262
	American Woodmark Corp.		63	1,222
	AO Smith Corp.		14	725
	Apogee Enterprises Inc. (e)		102	1,606
	Applied Industrial Technologies Inc.		54	1,342
	Astec Industries Inc. (c)		51	1,486
	Brady Corp. - Class A		80	2,490
	Briggs & Stratton Corp. (e)		63	1,228
	Carlisle Cos. Inc. (e)		67	2,568
	Ceradyne Inc. (c)		43	967
	CIRCOR International Inc.		24	811
	CNH Global NV (c)		12	366
	EMCOR Group Inc. (c)		56	1,379
	Franklin Electric Co. Inc.		40	1,200
	Gardner Denver Inc.		44	1,942
	Genesee & Wyoming Inc. - Class A (c)		61	2,092
	Gibraltar Industries Inc. (c) (e)		170	2,144
	Graco Inc.		68	2,176
	Kennametal Inc. (e)		83	2,320
	Lincoln Electric Holdings Inc.		37	2,010
	Mine Safety Appliances Co.		72	2,022
	Mueller Industries Inc.		87	2,323
	Nordson Corp.		40	2,717
	Powell Industries Inc. (c)		18	586
	Roper Industries Inc.		20	1,157
	Simpson Manufacturing Co. Inc.		72	1,999
	SkyWest Inc.		151	2,162
	Timken Co.		21	630
	Trinity Industries Inc. (e)		155	3,090
	Universal Forest Products Inc. (e)		72	2,790
	Wabash National Corp. (c)		163	1,144
	Watts Water Technologies Inc. (e)		58	1,801
				55,276
INFORMATION TECHNOLOGY - 3.5%
	Benchmark Electronics Inc. (c)		165	3,424
	Cohu Inc.		138	1,893
	Diebold Inc.		8	237
	Omnivision Technologies Inc. (c)		16	266
	Rofin-Sinar Technologies Inc. (c)		70	1,583
				7,403
MATERIALS - 9.2%
	Airgas Inc.		17	1,056
	AptarGroup Inc.		30	1,180
	Cabot Corp.		68	2,067
	Gerdau AmeriSteel Corp. (c)		214	1,676
	Glatfelter		75	1,080
	Reliance Steel & Aluminum Co.		65	3,200
	RPM International Inc.		142	3,030
	Sensient Technologies Corp.		2	55
	Steel Dynamics Inc.		147	2,573
	United States Steel Corp. (e)		5	318
	Westlake Chemical Corp. (e)		129	3,322
				19,557
UTILITIES - 2.5%
	Atmos Energy Corp.		23	642
	Energen Corp.		36	1,694
	NV Energy Inc.		240	2,960
				5,296
	Total Common Stocks (cost $171,802)			187,592
NON-U.S. GOVERNMENT AGENCY ASSET-BACKED SECURITIES - 0.0%
	Sigma Finance, Inc. (d) (f) (u)		$                636	27
	Total Non-U.S. Government Agency Asset-Backed Securities (cost $636)			27
SHORT TERM INVESTMENTS - 20.7%
Mutual Funds - 12.6%
	JNL Money Market Fund, 0.03% (a) (h)		26,693	26,693
Securities Lending Collateral - 8.1%
	Securities Lending Cash Collateral Fund LLC, 0.24% (a) (h)		11,142	11,142
	Securities Lending Liquidating Fund LLC, 0.38% (a) (h)		6,144	6,144
				17,286
	Total Short Term Investments (cost $43,979)			43,979
Total Investments - 109.0% (cost $216,417)				231,598
Other Assets and Liabilities, Net -  (9.0%)				(19,049)
Total Net Assets - 100%				$      212,549
JNL/Goldman Sachs Core Plus Bond Fund
COMMON STOCKS - 0.0%
CONSUMER DISCRETIONARY - 0.0%
	Home Interior Gift Inc. (f) (s) (u)		491	$             184
MATERIALS - 0.0%
	Applied Extrusion Technologies Inc. - Class B (c) (f) (s) (u)		2	5
	Total Common Stocks (cost $226)			189
NON-U.S. GOVERNMENT AGENCY ASSET-BACKED SECURITIES - 10.3%
	Adjustable Rate Mortgage Trust REMIC, 3.17%, 04/25/35 (i)		$                364	303
	American Home Mortgage Assets Trust REMIC, 1.16%, 02/25/47 (i)		3,669	1,748
	Amortizing Residential Collateral Trust REMIC, 2.05%, 08/25/32 (i)		63	19
	Asset Backed Securities Corp. Home Equity REMIC, 3.10%, 04/15/33 (i)		48	16
	Banc of America Commercial Mortgage Inc. REMIC, 5.63%, 07/10/46		3,500	3,549
	Banc of America Funding Corp. REMIC, 5.76%, 06/20/36 (i)		2,234	1,455
	Banc of America Funding Corp. REMIC, 5.79%, 10/25/36 (i)		185	182
	Banc of America Funding Corp. REMIC, 0.52%, 06/20/47 (i)		1,700	520
	Banc of America Mortgage Securities Inc. REMIC, 4.79%, 09/25/35 (i)		1,300	1,092
	BCAP LLC Trust REMIC, 0.89%, 11/25/36 (i)		485	430
	Bear Stearns Adjustable Rate Mortgage Trust REMIC, 3.06%, 04/25/34 (i)		386	347
	Bear Stearns Adjustable Rate Mortgage Trust REMIC, 4.14%, 11/25/34 (i)		1,101	985
	Bear Stearns Alt-A Trust II REMIC, 5.90%, 09/25/47 (i)		3,014	1,735
	Carrington Mortgage Loan Trust REMIC, 0.48%, 12/25/35 (i)		129	123
	Chase Mortgage Finance Corp. REMIC, 4.08%, 02/25/37 (i)		499	458
	CIT Mortgage Loan Trust REMIC, 1.50%, 04/30/10 (i) (s) (u)		700	302
	CIT Mortgage Loan Trust REMIC, 1.68%, 09/25/24 (i) (s) (u)		1,280	506
	CIT Mortgage Loan Trust REMIC, 1.25%, 10/25/37 (i) (s) (u)		923	847
	Citigroup Mortgage Loan Trust Inc. REMIC, 3.53%, 12/25/35 (i)		1,710	955
	College Loan Corp. Trust, 1.65%, 03/01/42 (i) (u)		1,000	850
	Commercial Mortgage Asset Trust REMIC, 7.35%, 01/17/32		400	428
	Conseco Financial Corp. REMIC, 7.07%, 01/15/29		200	207
	Countrywide Alternative Loan Trust REMIC, 1.96%, 09/25/35 (i)		302	176
	Countrywide Alternative Loan Trust REMIC, 1.84%, 11/25/47 (i)		4,628	2,325
	Countrywide Asset-Backed Certificates REMIC, 1.50%, 06/25/34 (i)		198	45
	Countrywide Home Equity Loan Trust REMIC, 0.45%, 05/15/36 (i) (s) (u)		1,225	287
	Countrywide Home Loan Mortgage Pass-Through Trust REMIC, 3.42%, 02/19/34 (i)		526	461
	Countrywide Home Loan Mortgage Pass-Through Trust REMIC, 3.53%, 11/20/34 (i)		474	389
	Credit Suisse Mortgage Capital Certificates REMIC, 6.50%, 10/25/21 (s) (u)		3,112	2,050
	Credit Suisse Mortgage Capital Certificates REMIC, 5.55%, 02/15/39 (i)		3,060	3,154
	Credit Suisse Mortgage Capital Certificates REMIC, 5.47%, 09/15/39		6,000	5,764
	Deutsche Bank Alternate Loan Trust REMIC, 4.84%, 08/25/35 (i)		768	567
	Downey Savings & Loan Association Mortgage Loan Trust REMIC, 1.39%, 03/19/46 (i)		499	212
	Downey Savings & Loan Association Mortgage Loan Trust REMIC, 1.39%, 03/19/47 (i)		499	92
	Educational Secvices of America Inc., 1.10%, 07/25/23 (i) (u)		2,000	1,996
	FDIC Structured Sale Guaranteed Notes REMIC, 0.80%, 02/25/48 (i) (s) (u)		1,000	1,003
	First Horizon Asset Securities Inc. Pass-Through Trust REMIC, 3.01%, 07/25/33 (i)		195	188
	First Union National Bank Commercial Mortgage Trust - Interest Only REMIC, 1.16%, 05/17/32 (i) (s) (u)		2,859	82
	GMAC Mortgage Corp. Loan Trust REMIC, 7.00%, 09/25/37 (i)		364	211
	GMAC Mortgage Corp. Loan Trust REMIC, 7.00%, 09/25/37 (i)		423	199
	GSMPS Mortgage Loan Trust, 0.48%, 02/25/35 (i) (s) (u)		135	110
	GSR Mortgage Loan Trust REMIC, 3.55%, 10/25/35 (i)		663	447
	Harborview Mortgage Loan Trust REMIC, 0.58%, 06/20/35 (i)		1,310	992
	Harborview Mortgage Loan Trust REMIC, 5.81%, 08/19/36 (i)		2,415	1,550
	HFC Home Equity Loan Asset Backed Certificates REMIC, 1.44%, 11/20/36 (i)		1,780	1,615
	Impac CMB Trust REMIC, 0.89%, 03/25/35 (i) (s) (u)		173	79
	IndyMac Index Mortgage Loan Trust REMIC, 0.87%, 06/25/34 (i)		390	237
	IndyMac Index Mortgage Loan Trust REMIC, 3.54%, 03/25/35 (i)		678	455
	IndyMac Index Mortgage Loan Trust REMIC, 4.77%, 08/25/35 (i)		784	619
	IndyMac Index Mortgage Loan Trust REMIC, 0.46%, 05/25/46 (i)		1,158	622
	JPMorgan Chase & Co. Mortgage Funding Trust REMIC, 0.41%, 12/25/36 (i)		3,384	1,817
	JPMorgan Chase Commercial Mortgage Securities Corp. REMIC, 4.94%, 08/15/42 (i)		7,000	7,089
	LB-UBS Commercial Mortgage Trust, 6.65%, 11/15/27		5,978	6,189
	LB-UBS Commercial Mortgage Trust REMIC, 5.32%, 09/15/39		1,000	1,017
	Lehman Mortgage Trust REMIC, 7.25%, 09/25/37		5,402	3,612
	Lehman XS Trust REMIC, 0.51%, 02/25/46 (i)		2,429	1,248
	Lehman XS Trust REMIC, 1.10%, 09/25/47 (i)		1,705	926
	Luminent Mortgage Trust REMIC, 0.44%, 05/25/46 (i)		679	348
	MASTR Adjustable Rate Mortgages Trust REMIC, 4.09%, 10/25/34 (i)		311	244
	MASTR Adjustable Rate Mortgages Trust REMIC, 3.93%, 12/25/34 (i)		103	72
	MASTR Adjustable Rate Mortgages Trust REMIC, 4.83%, 01/25/36 (i)		905	761
	MASTR Adjustable Rate Mortgages Trust REMIC, 1.66%, 12/25/46 (i)		4,120	1,345
	MASTR Seasoned Securities Trust REMIC, 4.72%, 10/25/32 (i)		364	306
	Merit Securities Corp. REMIC, 1.75%, 09/28/32 (i) (s) (u)		304	251
	Merrill Lynch Alternative Note Asset Trust REMIC, 0.44%, 07/25/37 (i)		851	443
	Mid-State Trust, 7.34%, 07/01/35		234	232
	Morgan Stanley Capital I REMIC, 5.38%, 11/14/42 (i)		1,500	1,539
	Morgan Stanley Mortgage Loan Trust REMIC, 3.86%, 08/25/34 (i)		199	153
	Morgan Stanley Mortgage Loan Trust REMIC, 5.06%, 03/25/36 (i)		1,850	1,137
	Morgan Stanley Mortgage Loan Trust REMIC, 0.37%, 10/25/36 (i)		30	30
	Residential Accredit Loans Inc. REMIC, 6.45%, 10/25/37 (i)		4,486	2,088
	Residential Accredit Loans Inc. REMIC, 1.46%, 01/25/46 (i)		1,408	787
	Residential Funding Mortgage Securities I Inc. REMIC, 3.97%, 08/25/35 (i)		752	484
	Residential Funding Mortgage Securities I Inc. REMIC, 5.20%, 09/25/35 (i)		1,145	966
	Sigma Finance, Inc. (d) (f) (u)		340	14
	SLM Student Loan Trust REMIC, 0.32%, 04/25/22 (i)		4,000	3,967
	Structured Adjustable Rate Mortgage Loan Trust REMIC, 2.92%, 05/25/34 (i)		682	614
	Structured Adjustable Rate Mortgage Loan Trust REMIC, 2.58%, 09/25/34 (i)		280	240
	Structured Adjustable Rate Mortgage Loan Trust REMIC, 2.95%, 11/25/34 (i)		1,317	1,073
	Structured Asset Mortgage Investments Inc. REMIC, 3.38%, 08/25/35 (i)		117	76
	Washington Mutual Mortgage Pass-Through Certificates REMIC, 3.08%, 06/25/34 (i)		884	825
	Washington Mutual Mortgage Pass-Through Certificates REMIC, 5.05%, 12/25/35 (i)		1,679	1,595
	Washington Mutual Mortgage Pass-Through Certificates REMIC, 5.51%, 09/25/36 (i)		1,572	1,273
	Washington Mutual Mortgage Pass-Through Certificates REMIC, 0.48%, 04/25/45 (i)		189	150
	Wells Fargo Alternative Loan Trust REMIC, 6.46%, 12/28/37 (i)		3,533	2,474
	Wells Fargo Mortgage Backed Securities Trust REMIC, 5.13%, 04/25/36 (i)		488	440
	Total Non-U.S. Government Agency Asset-Backed Securities (cost $115,774)			88,809
CORPORATE BONDS AND NOTES - 32.7%
CONSUMER DISCRETIONARY - 1.6%
	CBS Corp., 8.88%, 05/15/19 (e) (l)		1,800	2,174
	Comcast Cable Communications Holdings Inc., 8.38%, 03/15/13		356	413
	Comcast Corp., 5.50%, 03/15/11 (e)		375	390
	Comcast Holdings Corp., 10.63%, 07/15/12		875	1,027
	CSC Holdings Inc., 7.63%, 04/01/11		250	261
	DirecTV Holdings LLC, 5.88%, 10/01/19 (t)		825	859
	DirecTV Holdings LLC, 6.35%, 03/15/40 (e) (t)		650	645
	DISH DBS Corp., 6.63%, 10/01/14		575	579
	Reed Elsevier Capital Inc., 8.63%, 01/15/19 (l)		1,761	2,197
	Thomson Reuters Corp., 6.50%, 07/15/18		1,375	1,552
	Time Warner Inc., 4.88%, 03/15/20		2,150	2,101
	Whirlpool Corp., 8.00%, 05/01/12 (l)		400	440
	Whirlpool Corp., 8.60%, 05/01/14 (l)		500	580
	WPP Finance Co. Ltd., 8.00%, 09/15/14 (l)		778	894
				14,112
CONSUMER STAPLES - 1.3%
	Anheuser-Busch InBev Worldwide Inc., 7.20%, 01/15/14 (e) (t)		850	974
	Anheuser-Busch InBev Worldwide Inc., 4.13%, 01/15/15 (e)		1,750	1,801
	Anheuser-Busch InBev Worldwide Inc., 7.75%, 01/15/19 (t)		2,075	2,468
	BAT International Finance Plc, 9.50%, 11/15/18 (t)		1,150	1,489
	CVS Caremark Corp., 5.75%, 06/01/17		975	1,051
	Kraft Foods Inc., 6.13%, 08/23/18		1,125	1,226
	Kraft Foods Inc., 5.38%, 02/10/20		1,200	1,220
	Kraft Foods Inc., 6.50%, 02/09/40		1,025	1,062
				11,291
ENERGY - 3.3%
	Canadian Natural Resources Ltd., 5.15%, 02/01/13		900	966
	Chesapeake Energy Corp., 6.63%, 01/15/16 (e)		275	270
	Chesapeake Energy Corp., 6.50%, 08/15/17 (e)		275	266
	DCP Midstream LLC, 9.75%, 03/15/19 (t)		1,625	2,083
	Dolphin Energy Ltd., 5.89%, 06/15/19 (t)		832	854
	El Paso Corp., 7.88%, 06/15/12 (e)		325	344
	El Paso Corp., 7.80%, 08/01/31		33	32
	El Paso Corp., 7.75%, 01/15/32		515	506
	El Paso Pipeline Partners Operating Co. LLC, 6.50%, 04/01/20		400	405
	Energy Transfer Partners LP, 5.95%, 02/01/15 (e)		2,000	2,173
	Enterprise Products Operating LLC, 6.65%, 04/15/18 (e)		1,500	1,661
	Enterprise Products Operating LLC, 7.03%, 01/15/68 (i)		775	737
	Gulf South Pipeline Co. LP, 6.30%, 08/15/17 (t)		1,200	1,283
	Magellan Midstream Partners LP, 6.40%, 07/15/18 (e)		1,775	1,932
	ONEOK Partners LP, 6.65%, 10/01/36		1,225	1,277
	ONEOK Partners LP, 6.85%, 10/15/37		375	401
	Petroleos Mexica, 8.00%, 05/03/19		1,940	2,275
	Southern Natural Gas Co., 5.90%, 04/01/17 (e) (k) (t)		120	125
	Suncor Energy Inc., 6.10%, 06/01/18		1,175	1,266
	TransCanada PipeLines Ltd., 6.35%, 05/15/67 (i)		1,375	1,308
	Transocean Inc., 1.50%, 12/15/37		4,325	4,222
	Williams Cos. Inc., 7.88%, 09/01/21		100	118
	Williams Cos. Inc., 8.75%, 03/15/32 (e) (k)		1,075	1,310
	Williams Partners LP, 5.25%, 03/15/20 (e) (t)		1,050	1,052
	XTO Energy Inc., 6.50%, 12/15/18		1,175	1,356
				28,222
FINANCIALS - 22.5%
	Achmea Hypotheekbank NV, 3.20%, 11/03/14 (t)		5,700	5,773
	African Development Bank, 1.75%, 10/01/12		7,000	7,033
	Ameriprise Financial Inc., 5.30%, 03/15/20		1,450	1,467
	Bank of America Corp., 5.42%, 03/15/17		1,300	1,285
	Bank of Tokyo-Mitsubishi UFJ Ltd., 3.85%; 01/22/15 (t)		1,375	1,389
	Chubb Corp., 6.38%, 03/29/67 (e) (i)		825	830
	Citigroup Funding Inc., 1.88%, 10/22/12		16,800	16,934
	Citigroup Funding Inc., 1.88%, 11/15/12 (e)		5,300	5,338
	Citigroup Inc., 2.13%, 04/30/12		1,900	1,935
	Citigroup Inc., 1.88%, 05/07/12		3,000	3,039
	Citigroup Inc., 6.38%, 08/12/14 (e)		1,325	1,416
	Citigroup Inc., 5.00%, 09/15/14		2,475	2,472
	Credit Agricole SA, 8.38% (callable at 100 beginning 10/13/19) (p) (t)		750	812
	Developer Diversified Realty Corp., 7.50%, 04/01/17		1,250	1,265
	Dexia Credit Local, 2.75%, 01/10/14 (t)		3,100	3,127
	Discover Bank, 8.70%, 11/18/19 (t)		1,325	1,451
	El Paso Performance-Linked Trust, 7.75%, 07/15/11 (s) (u)		1,290	1,336
	Endurance Specialty Holdings Ltd., 6.15%, 10/15/15		700	747
	ENEL Finance International SA, 5.13%, 10/07/19 (t)		1,300	1,285
	Fifth Third Bancorp, 0.36%, 05/17/13 (i)		1,325	1,237
	First Niagara Financial Group Inc., 6.75%, 03/19/20		925	935
	Ford Motor Credit Co. LLC, 5.51%, 06/15/11 (e) (i)		600	612
	General Electric Capital Corp., 2.00%, 09/28/12		8,600	8,717
	General Electric Capital Corp., 2.63%, 12/28/12		6,500	6,675
	GMAC Inc., 6.88%, 09/15/11		3,400	3,447
	GMAC Inc., 1.75%, 10/30/12		9,100	9,153
	Hartford Financial Services Group Inc., 6.63%, 03/30/40		850	836
	HSBC Holdings Plc, 6.80%, 06/01/38		2,650	2,842
	ING Capital Funding Trust III, 8.44% (callable at 100 beginning 12/31/10) (p)		1,075	1,016
	John Deere Capital Corp., 2.88%, 06/19/12 (e)		5,950	6,156
	JPMorgan Chase & Co., 6.63%, 03/15/12		1,168	1,270
	JPMorgan Chase & Co., 7.25%, 02/01/18		1,475	1,705
	JPMorgan Chase & Co., 7.90% (callable at 100 beginning 04/30/18) (p)		2,050	2,186
	JPMorgan Chase Bank NA, 6.00%, 10/01/17		2,100	2,239
	Kreditanstalt fuer Wiederaufbau, 1.88%, 01/14/13		5,900	5,922
	Landwirtschaftliche Rentenbank, 5.25%, 07/02/12		4,500	4,873
	Landwirtschaftliche Rentenbank, 4.88%, 01/10/14		6,000	6,545
	LeasePlan Corp. NV, 3.00%, 05/07/12 (t)		3,400	3,513
	Lloyds TSB Bank Plc., 4.38%, 01/12/15 (t)		1,500	1,479
	Merrill Lynch & Co. Inc., 6.05%, 05/16/16		1,125	1,147
	Merrill Lynch & Co. Inc., 6.40%, 08/28/17		700	738
	Merrill Lynch & Co. Inc., 6.88%, 04/25/18		1,225	1,320
	MetLife Capital Trust X, 9.25%, 04/08/38 (i) (t)		500	562
	Morgan Stanley, 5.75%, 08/31/12		675	724
	Morgan Stanley, 5.95%, 12/28/17		825	848
	Morgan Stanley, 6.63%, 04/01/18		2,775	2,960
	Morgan Stanley, 7.30%, 05/13/19		425	470
	Morgan Stanley, 5.63%, 09/23/19		925	922
	MUFG Capital Finance 1 Ltd., 6.35% (callable at 100 on 07/25/16) (p)		1,310	1,299
	Northwestern Mutual Life Insurance Co., 6.06%, 03/30/40 (s) (u)		2,875	2,885
	PNC Bank NA, 6.88%, 04/01/18 (e)		975	1,081
	PNC Funding Corp., 1.88%, 06/22/11 (e)		5,300	5,362
	ProLogis, 1.88%, 11/15/37		1,075	1,013
	Prudential Financial Inc., 3.88%, 01/14/15		2,450	2,445
	Resona Preferred Global Securities Cayman Ltd., 7.19% (callable at 100 beginning 07/30/15) (p) (t)		1,525	1,429
	Royal Bank of Scotland Group Plc, 1.50%, 03/30/12 (e) (t)		7,500	7,494
	Royal Bank of Scotland Plc, 2.63%, 05/11/12 (t)		2,700	2,757
	Royal Bank of Scotland Plc, 4.88%, 08/25/14 (t)		1,850	1,862
	Simon Property Group LP, 10.35%, 04/01/19		1,650	2,075
	SLM Corp., 5.13%, 08/27/12 (e)		1,500	1,490
	Swiss Re Capital I LP, 6.85% (callable at 100 on 05/25/16) (p) (t)		1,175	1,072
	Transatlantic Holdings Inc., 8.00%, 11/30/39		975	996
	Travelers Cos. Inc., 6.25%, 03/15/37 (i)		630	620
	U.S. Bank NA, 4.38%, 02/28/17	EUR	700	949
	UBS AG New Jersey-Credit Linked Note (Federative Republic of Brazil, 6.00%, 01/17/17 Moody’s Rating Ba3) (f) (j) (s) (u)	BRL	1,620	449
	Wachovia Corp., 5.50%, 05/01/13		2,925	3,159
	WEA Finance LLC, 7.50%, 06/02/14 (s) (u)		475	532
	WEA Finance LLC, 7.13%, 04/15/18 (t)		1,125	1,217
	Wells Fargo Capital XIII, 7.70% (callable at 100 on 03/26/13) (p)		1,450	1,497
	Western Corporate Federal Credit Union, 1.75%, 11/02/12		1,900	1,905
	Westpac Banking Corp., 1.90%, 12/14/12 (e) (t)		4,900	4,961
	Westpac Banking Corp., 4.88%, 11/19/19		2,500	2,483
	White Mountains Re Group Inc., 6.38%, 03/20/17 (e) (s) (u)		1,275	1,243
	ZFS Finance USA Trust I, 5.88%, 05/09/32 (e) (i) (s) (u)		1,225	1,151
	ZFS Finance USA Trust I, 6.15%, 12/15/65 (i) (t)		725	707
				194,116
HEALTH CARE - 0.3%
	Boston Scientific Corp., 4.50%, 01/15/15		950	910
	Boston Scientific Corp., 6.00%, 01/15/20 (e)		550	520
	Boston Scientific Corp., 7.00%, 11/15/35 (l)		250	225
	HCA Inc., 7.88%, 02/15/20 (t)		500	523
				2,178
INFORMATION TECHNOLOGY - 0.2%
	Agilent Technologies Inc., 5.50%, 09/14/15		1,925	2,064
MATERIALS - 1.3%
	Anglo American Capital Plc, 9.38%, 04/08/14 (e) (t)		414	497
	Anglo American Capital Plc, 9.38%, 04/08/19 (t)		625	796
	ArcelorMittal, 6.13%, 06/01/18		1,375	1,443
	Dow Chemical Co., 7.60%, 05/15/14 (l)		1,625	1,855
	Dow Chemical Co., 5.90%, 02/15/15		750	812
	Freeport-McMoRan Copper & Gold Inc., 8.38%, 04/01/17		1,800	2,002
	International Paper Co., 7.95%, 06/15/18		625	730
	Methanex Corp., 8.75%, 08/15/12		175	184
	Owens Brockway Glass Container Inc., 8.25%, 05/15/13 (e)		375	380
	Radnor Holdings Corp., 11.00%, 07/15/10 (d) (s) (u)		125	-
	Smurfit Kappa Treasury Funding Ltd., 7.50%, 11/20/25		225	197
	Teck Resources Ltd., 10.75%, 05/15/19		1,425	1,746
				10,642
TELECOMMUNICATION SERVICES - 1.3%
	AT&T Inc., 6.40%, 05/15/38		1,475	1,516
	France Telecom SA, 7.75%, 03/01/11 (l)		1,975	2,097
	Qwest Communications International Inc., 7.50%, 02/15/14		255	259
	Qwest Corp., 8.88%, 03/15/12 (k)		125	137
	Qwest Corp., 8.38%, 05/01/16		750	844
	Sprint Capital Corp., 8.38%, 03/15/12		500	520
	Telecom Italia Capital SA, 6.20%, 07/18/11		975	1,024
	Telecom Italia Capital SA, 7.00%, 06/04/18		1,175	1,271
	Telecom Italia Capital SA, 6.00%, 09/30/34		925	821
	UBS Luxembourg SA for OJSC Vimpel Communications, 8.25%, 05/23/16		100	109
	Verizon Communications Inc., 6.40%, 02/15/38 (e)		1,300	1,349
	Verizon Wireless Capital LLC, 8.50%, 11/15/18		575	717
	VIP Finance Ireland Ltd. for OJSC Vimpel Communications, 9.13%, 04/30/13		350	395
	Windstream Corp., 8.63%, 08/01/16		180	184
				11,243
UTILITIES - 0.9%
	AES Corp., 9.38%, 09/15/10		250	257
	Arizona Public Service Co., 8.75%, 03/01/19		1,700	2,060
	Commonwealth Edison Co. (insured by AMBAC Assurance Corp.), 5.88%, 02/01/33		550	554
	FirstEnergy Corp., 7.38%, 11/15/31		420	435
	Nevada Power Co., 7.13%, 03/15/19		1,175	1,323
	NiSource Finance Corp., 10.75%, 03/15/16 (l)		600	763
	Progress Energy Inc., 7.05%, 03/15/19		1,275	1,439
	Pugent Sound Energy Inc., 6.97%, 06/01/67 (i)		675	601
				7,432
	Total Corporate Bonds and Notes (cost $272,212)			281,300
GOVERNMENT AND AGENCY OBLIGATIONS - 48.4%
GOVERNMENT SECURITIES - 20.0%
Municipals - 1.2%
	Missouri Higher Education Loan Authority, 1.22%, 11/26/32 (i)		2,500	2,498
	State of California, 7.95%, 03/01/36		1,290	1,321
	State of California, 7.63%, 03/01/40		3,475	3,618
	State of California Various Purpose Bond, 7.50%, 04/01/34		1,625	1,677
	State of California Various Purpose Bond, 7.55%, 04/01/39		1,325	1,370
				10,484
Sovereign - 6.8%
	ANZ National International Ltd., 3.25%, 04/02/12 (t)		6,000	6,212
	Farmer Mac Guaranteed Notes Trust, 5.13%, 04/19/17 (t)		2,100	2,197
	Mexican Bonos, 9.00%, 12/20/12	MXN	50,390	4,386
	Peru Government International Bond, 7.13%, 03/30/19		1,130	1,309
	Province of Ontario, Canada, 4.10%, 06/16/14		1,100	1,175
	Province of Quebec, Canada, 4.60%, 05/26/15 (e)		1,475	1,582
	Qatar Government International Bond, 5.15%, 04/09/14		290	311
	Qatar Government International Bond, 5.25%, 01/20/20 (t)		4,350	4,515
	Republic of Argentina, 3.17%, 12/15/35 (i)		11,880	891
	Republic of Indonesia, 5.88%, 03/13/20 (t)		1,900	1,971
	Societe Financement de l'Economie Francaise, 3.38%, 05/05/14 (l) (t)		2,900	3,009
	Societe Financement de l'Economie Francaise, 2.88%, 09/22/14 (t)		3,200	3,219
	Svensk Exportkredit AB, 3.25%, 09/16/14		1,300	1,328
	Swedish Housing Finance Corp., 3.13%, 03/23/12 (t)		1,100	1,133
	Tennessee Valley Authority, 4.38%, 06/15/15 (e)		2,400	2,553
	Tennessee Valley Authority, 5.98%, 04/01/36		1,250	1,357
	United Mexican States, 6.05%, 01/11/40		1,000	998
	US Central Federal Credit Union, 1.25%, 10/19/11		18,100	18,208
	US Central Federal Credit Union, 1.90%, 10/19/12 (e) (t)		1,800	1,817
				58,171
Treasury Inflation Index Securities - 3.1%
	U.S. Treasury Inflation Indexed Note, 0.88%, 04/15/10 (r)		14,869	15,918
	U.S. Treasury Inflation Indexed Note, 2.00%, 01/15/16 (r)		2,347	2,490
	U.S. Treasury Inflation Indexed Note, 2.50%, 07/15/16 (r)		3,433	3,751
	U.S. Treasury Inflation Indexed Note, 2.38%, 01/15/25 (r)		1,724	1,805
	U.S. Treasury Inflation Indexed Note, 2.00%, 01/15/26 (r)		1,419	1,412
	U.S. Treasury Inflation Indexed Note, 2.13%, 02/15/40 (r)		1,103	1,093
				26,469
U.S. Treasury Securities - 8.9%
	U.S. Treasury Bond Strip Principal, 0.00%, 05/15/20 (j)		3,300	2,162
	U.S. Treasury Bond Strip Principal, 0.00%, 08/15/20 (e) (j)		8,400	5,420
	U.S. Treasury Bond Strip Principal, 0.00%, 05/15/21 (j)		900	556
	U.S. Treasury Bond Strip Principal, 0.00%, 11/15/21 (j)		1,800	1,078
	U.S. Treasury Bond, 4.25%, 05/15/39 (e)		1,100	1,019
	U.S. Treasury Bond, 4.38%, 11/15/39		4,900	4,634
	U.S. Treasury Bond, 4.63%, 02/15/40 (e)		400	394
	U.S. Treasury Note, 1.00%, 08/31/11		18,000	18,083
	U.S. Treasury Note, 1.38%, 03/15/13		5,900	5,865
	U.S. Treasury Note, 2.38%, 03/31/15		12,300	12,265
	U.S. Treasury Note, 3.00%, 09/30/16		5,800	5,746
	U.S. Treasury Note, 3.00%, 02/28/17		1,300	1,280
	U.S. Treasury Note, 4.00%, 08/15/18		11,100	11,434
	U.S. Treasury Note, 3.75%, 11/15/18		5,700	5,743
	U.S. Treasury Note, 2.75%, 02/15/19		1,400	1,299
				76,978
U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES - 28.4%
Federal Home Loan Bank - 0.2%
	Federal Home Loan Bank, 5.50%, 07/15/36 (o)		2,000	2,058
Federal Home Loan Mortgage Corp. - 8.8%
	Federal Home Loan Mortgage Corp., 1.75%, 07/27/11 (o)		6,900	6,907
	Federal Home Loan Mortgage Corp., 4.50%, 04/02/14		5,000	5,412
	Federal Home Loan Mortgage Corp., 5.00%, 11/13/14		9,600	10,548
	Federal Home Loan Mortgage Corp., 5.05%, 01/26/15		4,600	5,063
	Federal Home Loan Mortgage Corp., 5.50%, 04/01/35, TBA (g)		1,000	1,056
	Federal Home Loan Mortgage Corp., 6.00%, 04/01/35, TBA (g)		1,000	1,073
	Federal Home Loan Mortgage Corp., 5.00%, 12/01/35		252	261
	Federal Home Loan Mortgage Corp., 5.50%, 01/01/36		236	249
	Federal Home Loan Mortgage Corp., 5.50%, 01/01/36		44	47
	Federal Home Loan Mortgage Corp., 5.50%, 02/01/36		1	1
	Federal Home Loan Mortgage Corp., 5.97%, 01/01/37 (i)		1,025	1,087
	Federal Home Loan Mortgage Corp., 6.00%, 09/01/37		23	25
	Federal Home Loan Mortgage Corp., 6.00%, 09/01/37		24	26
	Federal Home Loan Mortgage Corp., 6.50%, 01/01/38		3,266	3,556
	Federal Home Loan Mortgage Corp., 6.00%, 02/01/38		18	19
	Federal Home Loan Mortgage Corp., 6.00%, 02/01/38		24	26
	Federal Home Loan Mortgage Corp., 6.00%, 02/01/38		27	29
	Federal Home Loan Mortgage Corp., 6.00%, 07/01/38		134	144
	Federal Home Loan Mortgage Corp., 6.00%, 07/01/38		141	151
	Federal Home Loan Mortgage Corp., 6.00%, 07/01/38		22	23
	Federal Home Loan Mortgage Corp., 6.00%, 10/01/38		28	30
	Federal Home Loan Mortgage Corp., 6.00%, 10/01/38		21	23
	Federal Home Loan Mortgage Corp., 6.00%, 11/01/38		21	22
	Federal Home Loan Mortgage Corp., 6.00%, 11/01/38		3,164	3,400
	Federal Home Loan Mortgage Corp., 6.50%, 12/01/38		1,759	1,914
	Federal Home Loan Mortgage Corp., 5.00%, 03/01/39		174	180
	Federal Home Loan Mortgage Corp., 5.00%, 05/01/39		59	60
	Federal Home Loan Mortgage Corp., 5.00%, 05/01/39		564	583
	Federal Home Loan Mortgage Corp., 5.00%, 06/01/39		762	788
	Federal Home Loan Mortgage Corp., 5.00%, 06/01/39		1,436	1,484
	Federal Home Loan Mortgage Corp., 5.00%, 06/01/39		1,033	1,068
	Federal Home Loan Mortgage Corp., 5.00%, 07/01/39		289	299
	Federal Home Loan Mortgage Corp., 5.00%, 07/01/39		44	45
	Federal Home Loan Mortgage Corp., 5.00%, 07/01/39		47	48
	Federal Home Loan Mortgage Corp., 5.00%, 07/01/39		389	402
	Federal Home Loan Mortgage Corp., 5.00%, 07/01/39		602	623
	Federal Home Loan Mortgage Corp., 5.00%, 08/01/39		36	37
	Federal Home Loan Mortgage Corp., 5.00%, 08/01/39		79	82
	Federal Home Loan Mortgage Corp., 5.00%, 08/01/39		89	92
	Federal Home Loan Mortgage Corp., 5.00%, 08/01/39		99	103
	Federal Home Loan Mortgage Corp., 5.00%, 08/01/39		49	51
	Federal Home Loan Mortgage Corp., 5.00%, 08/01/39		57	59
	Federal Home Loan Mortgage Corp., 5.00%, 08/01/39		31	32
	Federal Home Loan Mortgage Corp., 4.50%, 09/01/39		2,934	2,944
	Federal Home Loan Mortgage Corp., 4.50%, 09/01/39		988	991
	Federal Home Loan Mortgage Corp., 5.00%, 09/01/39		43	45
	Federal Home Loan Mortgage Corp., 5.00%, 09/01/39		53	54
	Federal Home Loan Mortgage Corp., 5.00%, 09/01/39		101	105
	Federal Home Loan Mortgage Corp., 5.00%, 09/01/39		462	477
	Federal Home Loan Mortgage Corp., 5.00%, 09/01/39		111	115
	Federal Home Loan Mortgage Corp., 5.00%, 09/01/39		157	162
	Federal Home Loan Mortgage Corp., 5.00%, 09/01/39		41	42
	Federal Home Loan Mortgage Corp., 5.00%, 09/01/39		968	1,001
	Federal Home Loan Mortgage Corp., 5.00%, 09/01/39		123	127
	Federal Home Loan Mortgage Corp., 5.00%, 09/01/39		2,944	3,043
	Federal Home Loan Mortgage Corp., 5.00%, 09/01/39		66	68
	Federal Home Loan Mortgage Corp., 5.00%, 09/01/39		154	159
	Federal Home Loan Mortgage Corp., 5.00%, 09/01/39		145	150
	Federal Home Loan Mortgage Corp., 5.00%, 09/01/39		98	101
	Federal Home Loan Mortgage Corp., 4.50%, 10/01/39		99	99
	Federal Home Loan Mortgage Corp., 4.50%, 10/01/39		198	199
	Federal Home Loan Mortgage Corp., 5.00%, 10/01/39		1,186	1,226
	Federal Home Loan Mortgage Corp., 5.00%, 10/01/39		1,478	1,528
	Federal Home Loan Mortgage Corp., 5.00%, 10/01/39		161	167
	Federal Home Loan Mortgage Corp., 5.00%, 10/01/39		144	149
	Federal Home Loan Mortgage Corp., 5.00%, 10/01/39		687	710
	Federal Home Loan Mortgage Corp., 5.00%, 11/01/39		1,579	1,632
	Federal Home Loan Mortgage Corp., 5.00%, 11/01/39		4,927	5,094
	Federal Home Loan Mortgage Corp., 5.00%, 11/01/39		1,322	1,366
	Federal Home Loan Mortgage Corp., 5.00%, 12/01/39		451	467
	Federal Home Loan Mortgage Corp., 5.00%, 12/01/39		4,746	4,906
	Federal Home Loan Mortgage Corp., 5.00%, 01/01/40		134	139
	Federal Home Loan Mortgage Corp., 5.00%, 01/01/40		87	90
	Federal Home Loan Mortgage Corp., 5.00%, 01/01/40		612	632
	Federal Home Loan Mortgage Corp. REMIC, 1,156.50%, 06/15/21 (s) (u)		-	1
	Federal Home Loan Mortgage Corp. REMIC, 0.00%, 08/15/35 (0.00% until LIBOR reaches 6.50%) (s) (u)		8	8
	Federal Home Loan Mortgage Corp. REMIC, 0.00%, 09/15/35 (0.00% until LIBOR reaches 7.00%) (i) (s) (u)		356	309
	Federal Home Loan Mortgage Corp. REMIC, 0.00%, 04/15/37 (0.00% until LIBOR reaches 6.75%) (i) (s) (u)		133	129
				75,563
Federal National Mortgage Association - 17.0%
	Federal National Mortgage Association, 5.00%, 01/01/18		523	558
	Federal National Mortgage Association, 5.00%, 02/01/18		566	604
	Federal National Mortgage Association, 5.00%, 02/01/18		371	396
	Federal National Mortgage Association, 5.00%, 03/01/18		715	762
	Federal National Mortgage Association, 5.00%, 04/01/18		553	590
	Federal National Mortgage Association, 5.00%, 05/01/18		620	661
	Federal National Mortgage Association, 4.50%, 07/01/18		239	251
	Federal National Mortgage Association, 4.50%, 07/01/18		203	213
	Federal National Mortgage Association, 4.50%, 07/01/18		267	282
	Federal National Mortgage Association, 4.50%, 09/01/18		445	469
	Federal National Mortgage Association, 4.50%, 09/01/18		289	304
	Federal National Mortgage Association, 4.50%, 09/01/18		449	472
	Federal National Mortgage Association, 4.50%, 09/01/18		216	227
	Federal National Mortgage Association, 4.50%, 09/01/18		173	183
	Federal National Mortgage Association, 5.00%, 06/01/18		455	486
	Federal National Mortgage Association, 5.00%, 06/01/18		587	626
	Federal National Mortgage Association, 5.00%, 06/01/18		597	638
	Federal National Mortgage Association, 5.00%, 06/01/18		685	731
	Federal National Mortgage Association, 5.00%, 06/01/18		692	739
	Federal National Mortgage Association, 5.00%, 06/01/18		538	574
	Federal National Mortgage Association, 5.00%, 06/01/18		661	705
	Federal National Mortgage Association, 5.00%, 06/01/18		701	749
	Federal National Mortgage Association, 4.50%, 09/01/18		194	205
	Federal National Mortgage Association, 5.00%, 07/01/18		512	546
	Federal National Mortgage Association, 4.50%, 07/01/18		299	315
	Federal National Mortgage Association, 4.50%, 09/01/18		211	222
	Federal National Mortgage Association, 5.00%, 09/01/18		451	481
	Federal National Mortgage Association, 5.00%, 09/01/18		708	756
	Federal National Mortgage Association, 4.50%, 09/01/18		255	268
	Federal National Mortgage Association, 4.50%, 10/10/18		210	222
	Federal National Mortgage Association, 5.00%, 10/01/18		644	687
	Federal National Mortgage Association, 5.00%, 10/01/18		505	539
	Federal National Mortgage Association, 5.00%, 10/01/18		462	493
	Federal National Mortgage Association, 4.50%, 10/10/18		171	180
	Federal National Mortgage Association, 4.50%, 10/10/18		220	232
	Federal National Mortgage Association, 4.50%, 11/01/18		227	238
	Federal National Mortgage Association, 5.00%, 11/01/18		717	766
	Federal National Mortgage Association, 5.00%, 11/01/18		625	667
	Federal National Mortgage Association, 5.00%, 11/01/18		545	582
	Federal National Mortgage Association, 5.00%, 11/01/18		526	562
	Federal National Mortgage Association, 5.00%, 11/01/18		518	552
	Federal National Mortgage Association, 5.00%, 12/01/18		464	495
	Federal National Mortgage Association, 5.00%, 12/01/18		243	259
	Federal National Mortgage Association, 5.00%, 12/01/18		438	468
	Federal National Mortgage Association, 5.00%, 12/01/18		502	535
	Federal National Mortgage Association, 5.00%, 01/01/19		582	621
	Federal National Mortgage Association, 5.00%, 01/01/19		766	818
	Federal National Mortgage Association, 5.00%, 02/01/19		545	580
	Federal National Mortgage Association, 6.50%, 02/01/19		2	2
	Federal National Mortgage Association, 5.00%, 03/01/19		658	703
	Federal National Mortgage Association, 5.00%, 03/01/19		506	539
	Federal National Mortgage Association, 4.50%, 05/01/19		227	238
	Federal National Mortgage Association, 5.00%, 04/01/19		472	503
	Federal National Mortgage Association, 5.00%, 04/01/19		471	502
	Federal National Mortgage Association, 5.00%, 04/01/19		479	511
	Federal National Mortgage Association, 5.00%, 04/01/19		515	549
	Federal National Mortgage Association, 4.50%, 05/01/19		89	94
	Federal National Mortgage Association, 4.50%, 05/01/19		235	248
	Federal National Mortgage Association, 4.50%, 05/01/19		225	237
	Federal National Mortgage Association, 4.50%, 05/01/19		225	237
	Federal National Mortgage Association, 4.50%, 05/01/19		287	302
	Federal National Mortgage Association, 4.50%, 05/01/19		299	314
	Federal National Mortgage Association, 4.50%, 05/01/19		329	347
	Federal National Mortgage Association, 4.50%, 05/01/19		193	203
	Federal National Mortgage Association, 4.50%, 05/01/19		183	193
	Federal National Mortgage Association, 4.50%, 05/01/19		243	256
	Federal National Mortgage Association, 4.50%, 05/01/19		233	245
	Federal National Mortgage Association, 5.00%, 05/01/19		587	625
	Federal National Mortgage Association, 6.00%, 09/01/19		1,113	1,205
	Federal National Mortgage Association, 0.00%, 10/09/19 (j)		350	205
	Federal National Mortgage Association, 6.00%, 12/01/20		1,382	1,496
	Federal National Mortgage Association, 6.00%, 11/01/21		441	477
	Federal National Mortgage Association, 6.00%, 12/01/21		28	30
	Federal National Mortgage Association, 6.00%, 02/01/23		513	555
	Federal National Mortgage Association, 5.50%, 09/01/23		1,125	1,204
	Federal National Mortgage Association, 5.50%, 09/01/23		1,498	1,604
	Federal National Mortgage Association, 5.50%, 10/01/23		481	515
	Federal National Mortgage Association, 6.00%, 12/01/23		93	100
	Federal National Mortgage Association, 5.50%, 04/01/29		1	1
	Federal National Mortgage Association, 8.00%, 08/01/29		2	2
	Federal National Mortgage Association, 8.00%, 04/01/30		7	8
	Federal National Mortgage Association, 8.00%, 07/01/30		12	14
	Federal National Mortgage Association, 8.00%, 08/01/30		3	4
	Federal National Mortgage Association, 8.00%, 10/01/30		48	56
	Federal National Mortgage Association, 8.00%, 01/01/31		14	16
	Federal National Mortgage Association, 8.00%, 01/01/31		13	15
	Federal National Mortgage Association, 8.00%, 02/01/31		6	7
	Federal National Mortgage Association, 6.00%, 03/01/32		-	1
	Federal National Mortgage Association, 6.00%, 07/01/32		12	13
	Federal National Mortgage Association, 7.00%, 07/01/32		18	20
	Federal National Mortgage Association, 5.50%, 04/01/33		2,755	2,923
	Federal National Mortgage Association, 6.00%, 05/01/33		31	33
	Federal National Mortgage Association, 5.00%, 07/01/33		8	9
	Federal National Mortgage Association, 5.50%, 07/01/33		10	11
	Federal National Mortgage Association, 5.00%, 08/01/33		13	13
	Federal National Mortgage Association, 5.00%, 08/01/33		37	38
	Federal National Mortgage Association, 5.00%, 08/01/33		139	145
	Federal National Mortgage Association, 5.00%, 09/01/33		10	11
	Federal National Mortgage Association, 5.50%, 09/01/33		16	17
	Federal National Mortgage Association, 5.00%, 11/01/33		12	12
	Federal National Mortgage Association, 5.50%, 12/01/33		10	11
	Federal National Mortgage Association, 6.00%, 12/01/33		18	20
	Federal National Mortgage Association, 5.00%, 01/01/34		12	12
	Federal National Mortgage Association, 5.50%, 02/01/34		20	21
	Federal National Mortgage Association, 5.50%, 04/01/34		3	3
	Federal National Mortgage Association, 5.50%, 05/01/34		42	45
	Federal National Mortgage Association, 5.50%, 06/01/34		-	1
	Federal National Mortgage Association, 5.50%, 08/01/34		31	33
	Federal National Mortgage Association, 5.50%, 10/01/34		2	2
	Federal National Mortgage Association, 5.50%, 12/01/34		210	223
	Federal National Mortgage Association, 6.00%, 12/01/34		5	5
	Federal National Mortgage Association, 6.00%, 02/01/35		140	151
	Federal National Mortgage Association, 5.00%, 03/01/35		17	18
	Federal National Mortgage Association, 5.00%, 04/01/35		25	26
	Federal National Mortgage Association, 5.50%, 04/01/35		71	75
	Federal National Mortgage Association, 6.00%, 04/01/35		21	22
	Federal National Mortgage Association, 6.00%, 04/01/35		1,072	1,164
	Federal National Mortgage Association, 5.00%, 05/01/35		15	15
	Federal National Mortgage Association, 5.00%, 06/01/35		286	296
	Federal National Mortgage Association, 5.00%, 07/01/35		21	22
	Federal National Mortgage Association, 5.00%, 07/01/35		25	25
	Federal National Mortgage Association, 5.00%, 07/01/35		25	26
	Federal National Mortgage Association, 5.00%, 07/01/35		23	23
	Federal National Mortgage Association, 5.00%, 07/01/35		21	22
	Federal National Mortgage Association, 5.00%, 07/01/35		88	91
	Federal National Mortgage Association, 5.50%, 07/01/35		57	60
	Federal National Mortgage Association, 5.50%, 07/01/35		1	1
	Federal National Mortgage Association, 6.00%, 07/01/35		161	173
	Federal National Mortgage Association, 5.00%, 08/01/35		17	18
	Federal National Mortgage Association, 5.00%, 08/01/35		16	16
	Federal National Mortgage Association, 5.00%, 08/01/35		26	27
	Federal National Mortgage Association, 5.00%, 08/01/35		25	26
	Federal National Mortgage Association, 5.50%, 08/01/35		3	3
	Federal National Mortgage Association, 6.00%, 08/01/35		2	2
	Federal National Mortgage Association, 6.00%, 08/01/35		143	153
	Federal National Mortgage Association, 5.00%, 09/01/35		20	21
	Federal National Mortgage Association, 5.00%, 09/01/35		28	29
	Federal National Mortgage Association, 5.00%, 09/01/35		215	223
	Federal National Mortgage Association, 5.00%, 09/01/35		24	25
	Federal National Mortgage Association, 5.00%, 09/01/35		26	27
	Federal National Mortgage Association, 5.00%, 09/01/35		27	28
	Federal National Mortgage Association, 5.00%, 09/01/35		24	25
	Federal National Mortgage Association, 5.00%, 09/01/35		634	656
	Federal National Mortgage Association, 5.00%, 09/01/35		182	188
	Federal National Mortgage Association, 5.00%, 09/01/35		29	30
	Federal National Mortgage Association, 5.50%, 09/01/35		26	28
	Federal National Mortgage Association, 5.00%, 10/01/35		25	26
	Federal National Mortgage Association, 5.00%, 10/01/35		26	27
	Federal National Mortgage Association, 2.42%, 11/01/35 (i)		189	193
	Federal National Mortgage Association, 5.00%, 11/01/35		30	31
	Federal National Mortgage Association, 5.00%, 11/01/35		19	19
	Federal National Mortgage Association, 6.00%, 11/01/35		131	140
	Federal National Mortgage Association, 6.00%, 11/01/35		111	119
	Federal National Mortgage Association, 6.00%, 11/01/35		270	289
	Federal National Mortgage Association, 5.50%, 12/01/35		16	17
	Federal National Mortgage Association, 6.00%, 01/01/36		484	518
	Federal National Mortgage Association, 5.00%, 02/01/36		336	348
	Federal National Mortgage Association, 5.50%, 02/01/36		1	1
	Federal National Mortgage Association, 6.00%, 02/01/36		43	46
	Federal National Mortgage Association, 6.00%, 03/01/36		93	99
	Federal National Mortgage Association, 6.00%, 03/01/36		52	56
	Federal National Mortgage Association, 6.00%, 03/01/36		1	2
	Federal National Mortgage Association, 6.00%, 04/01/36		114	122
	Federal National Mortgage Association, 2.79%, 05/01/36 (i)		1,088	1,136
	Federal National Mortgage Association, 2.93%, 05/01/36 (i)		1,212	1,266
	Federal National Mortgage Association, 6.00%, 05/11/36, TBA (g)		28,000	29,872
	Federal National Mortgage Association, 6.50%, 05/11/36, TBA (g)		7,000	7,564
	Federal National Mortgage Association, 6.00%, 06/01/36		49	53
	Federal National Mortgage Association, 6.50%, 06/01/36, TBA (g)		3,000	3,232
	Federal National Mortgage Association, 2.83%, 07/01/36 (i)		1,160	1,212
	Federal National Mortgage Association, 5.00%, 07/01/36		29	30
	Federal National Mortgage Association, 2.93%, 08/01/36 (i)		1,205	1,259
	Federal National Mortgage Association, 2.79%, 09/01/36 (i)		1,198	1,257
	Federal National Mortgage Association, 5.50%, 02/01/37		3	3
	Federal National Mortgage Association, 5.50%, 04/01/37		6	6
	Federal National Mortgage Association, 5.50%, 04/01/37		1	1
	Federal National Mortgage Association, 5.50%, 04/01/37		67	71
	Federal National Mortgage Association, 5.50%, 05/01/37		6	7
	Federal National Mortgage Association, 5.50%, 06/01/37		2	2
	Federal National Mortgage Association, 6.00%, 06/01/37		45	48
	Federal National Mortgage Association, 6.00%, 10/01/37		16	17
	Federal National Mortgage Association, 6.00%, 11/01/37		17	19
	Federal National Mortgage Association, 5.50%, 12/01/37		1	1
	Federal National Mortgage Association, 6.00%, 12/01/37		85	91
	Federal National Mortgage Association, 5.50%, 02/01/38		2	2
	Federal National Mortgage Association, 6.00%, 02/01/38		136	144
	Federal National Mortgage Association, 5.50%, 03/01/38		16	17
	Federal National Mortgage Association, 5.50%, 03/01/38		6	6
	Federal National Mortgage Association, 5.50%, 03/01/38		7	7
	Federal National Mortgage Association, 6.00%, 03/01/38		85	90
	Federal National Mortgage Association, 5.50%, 04/01/38		103	108
	Federal National Mortgage Association, 5.50%, 05/01/38		2	3
	Federal National Mortgage Association, 5.50%, 05/01/38		27	28
	Federal National Mortgage Association, 5.50%, 05/01/38		1	1
	Federal National Mortgage Association, 6.00%, 05/01/38		42	45
	Federal National Mortgage Association, 5.50%, 06/01/38		5	5
	Federal National Mortgage Association, 5.50%, 06/01/38		3	3
	Federal National Mortgage Association, 6.00%, 06/01/38		24	26
	Federal National Mortgage Association, 6.00%, 06/01/38		37	39
	Federal National Mortgage Association, 5.50%, 07/01/38		1	1
	Federal National Mortgage Association, 5.50%, 07/01/38		8	8
	Federal National Mortgage Association, 6.00%, 07/01/38		83	88
	Federal National Mortgage Association, 5.50%, 08/01/38		4	4
	Federal National Mortgage Association, 5.50%, 08/01/38		7	7
	Federal National Mortgage Association, 6.00%, 08/01/38		34	37
	Federal National Mortgage Association, 5.50%, 09/01/38		7	7
	Federal National Mortgage Association, 6.00%, 10/01/38		29	31
	Federal National Mortgage Association, 6.00%, 11/01/38		29	31
	Federal National Mortgage Association, 5.50%, 12/01/38		3	4
	Federal National Mortgage Association, 5.00%, 02/01/39		53	55
	Federal National Mortgage Association, 5.00%, 02/01/39		42	44
	Federal National Mortgage Association, 5.00%, 02/01/39		175	181
	Federal National Mortgage Association, 5.00%, 02/01/39		37	38
	Federal National Mortgage Association, 5.50%, 02/01/39		46	49
	Federal National Mortgage Association, 4.50%, 03/01/39		148	148
	Federal National Mortgage Association, 4.50%, 03/01/39		179	180
	Federal National Mortgage Association, 4.50%, 03/01/39		84	84
	Federal National Mortgage Association, 5.00%, 03/01/39		182	188
	Federal National Mortgage Association, 5.00%, 03/01/39		39	41
	Federal National Mortgage Association, 4.50%, 04/01/39		174	174
	Federal National Mortgage Association, 5.00%, 04/01/39		47	49
	Federal National Mortgage Association, 5.00%, 04/01/39		25	25
	Federal National Mortgage Association, 4.50%, 05/01/39		213	213
	Federal National Mortgage Association, 4.50%, 05/01/39		37	37
	Federal National Mortgage Association, 5.00%, 05/01/39		152	157
	Federal National Mortgage Association, 5.00%, 05/01/39		90	93
	Federal National Mortgage Association, 5.00%, 05/01/39		97	100
	Federal National Mortgage Association, 5.00%, 05/01/39		30	31
	Federal National Mortgage Association, 5.00%, 05/01/39		72	75
	Federal National Mortgage Association, 5.00%, 05/01/39		48	50
	Federal National Mortgage Association, 5.00%, 05/01/39		38	39
	Federal National Mortgage Association, 5.00%, 05/01/39		95	98
	Federal National Mortgage Association, 5.00%, 05/01/39		63	65
	Federal National Mortgage Association, 5.00%, 05/01/39		82	85
	Federal National Mortgage Association, 5.00%, 05/01/39		53	54
	Federal National Mortgage Association, 5.00%, 05/01/39		97	100
	Federal National Mortgage Association, 5.00%, 05/01/39		27	28
	Federal National Mortgage Association, 5.00%, 05/01/39		53	55
	Federal National Mortgage Association, 4.50%, 06/01/39		75	76
	Federal National Mortgage Association, 4.50%, 06/01/39		36	36
	Federal National Mortgage Association, 4.50%, 06/01/39		74	74
	Federal National Mortgage Association, 5.00%, 06/01/39		54	56
	Federal National Mortgage Association, 5.00%, 06/01/39		127	131
	Federal National Mortgage Association, 5.00%, 06/01/39		51	53
	Federal National Mortgage Association, 5.00%, 06/01/39		4,881	5,042
	Federal National Mortgage Association, 4.50%, 07/01/39		36	36
	Federal National Mortgage Association, 4.50%, 07/01/39		56	57
	Federal National Mortgage Association, 4.50%, 07/01/39		63	64
	Federal National Mortgage Association, 4.50%, 07/01/39		67	67
	Federal National Mortgage Association, 5.00%, 07/01/39		97	101
	Federal National Mortgage Association, 5.00%, 07/01/39		62	64
	Federal National Mortgage Association, 5.00%, 07/01/39		36	37
	Federal National Mortgage Association, 5.00%, 07/01/39		64	66
	Federal National Mortgage Association, 5.00%, 07/01/39		50	52
	Federal National Mortgage Association, 5.00%, 07/01/39		49	51
	Federal National Mortgage Association, 5.00%, 07/01/39		95	98
	Federal National Mortgage Association, 5.00%, 07/01/39		48	49
	Federal National Mortgage Association, 5.00%, 07/01/39		96	99
	Federal National Mortgage Association, 5.00%, 07/01/39		99	102
	Federal National Mortgage Association, 5.00%, 07/01/39		39	40
	Federal National Mortgage Association, 5.00%, 07/01/39		48	49
	Federal National Mortgage Association, 4.50%, 08/01/39		40	41
	Federal National Mortgage Association, 4.50%, 08/01/39		97	97
	Federal National Mortgage Association, 4.50%, 08/01/39		35	35
	Federal National Mortgage Association, 4.50%, 08/01/39		48	48
	Federal National Mortgage Association, 4.50%, 08/01/39		36	36
	Federal National Mortgage Association, 4.50%, 08/01/39		42	42
	Federal National Mortgage Association, 4.50%, 08/01/39		51	51
	Federal National Mortgage Association, 4.50%, 08/01/39		66	66
	Federal National Mortgage Association, 5.00%, 08/01/39		57	58
	Federal National Mortgage Association, 5.00%, 08/01/39		1,948	2,012
	Federal National Mortgage Association, 5.00%, 08/01/39		160	165
	Federal National Mortgage Association, 5.00%, 08/01/39		30	31
	Federal National Mortgage Association, 5.00%, 08/01/39		972	1,004
	Federal National Mortgage Association, 5.00%, 08/01/39		49	51
	Federal National Mortgage Association, 5.00%, 08/01/39		51	53
	Federal National Mortgage Association, 5.00%, 08/01/39		207	213
	Federal National Mortgage Association, 5.00%, 08/01/39		46	48
	Federal National Mortgage Association, 5.00%, 08/01/39		42	43
	Federal National Mortgage Association, 5.00%, 08/01/39		57	59
	Federal National Mortgage Association, 5.00%, 08/01/39		22	23
	Federal National Mortgage Association, 4.50%, 09/01/39		392	393
	Federal National Mortgage Association, 5.00%, 09/01/39		835	863
	Federal National Mortgage Association, 5.00%, 09/01/39		66	68
	Federal National Mortgage Association, 5.00%, 09/01/39		2,007	2,073
	Federal National Mortgage Association, 5.00%, 09/01/39		111	115
	Federal National Mortgage Association, 5.00%, 09/01/39		840	868
	Federal National Mortgage Association, 5.00%, 09/01/39		42	43
	Federal National Mortgage Association, 5.00%, 09/01/39		23	24
	Federal National Mortgage Association, 4.50%, 10/01/39		693	695
	Federal National Mortgage Association, 4.50%, 10/01/39		294	295
	Federal National Mortgage Association, 4.50%, 10/01/39		691	693
	Federal National Mortgage Association, 5.00%, 10/01/39		77	80
	Federal National Mortgage Association, 5.00%, 10/01/39		391	404
	Federal National Mortgage Association, 5.00%, 10/01/39		591	611
	Federal National Mortgage Association, 5.00%, 10/01/39		78	80
	Federal National Mortgage Association, 5.00%, 10/01/39		97	101
	Federal National Mortgage Association, 5.00%, 10/01/39		689	712
	Federal National Mortgage Association, 5.00%, 10/01/39		99	102
	Federal National Mortgage Association, 5.00%, 10/01/39		925	955
	Federal National Mortgage Association, 5.00%, 10/01/39		580	599
	Federal National Mortgage Association, 5.00%, 10/01/39		2,073	2,141
	Federal National Mortgage Association, 5.00%, 10/01/39		984	1,017
	Federal National Mortgage Association, 4.50%, 11/01/39		159	160
	Federal National Mortgage Association, 5.00%, 11/01/39		691	714
	Federal National Mortgage Association, 5.00%, 11/01/39		140	145
	Federal National Mortgage Association, 5.00%, 11/01/39		113	117
	Federal National Mortgage Association, 4.50%, 12/01/39		1,464	1,470
	Federal National Mortgage Association, 4.50%, 12/01/39		55	55
	Federal National Mortgage Association, 5.00%, 12/01/39		286	295
	Federal National Mortgage Association, 5.00%, 12/01/39		63	65
	Federal National Mortgage Association, 5.00%, 12/01/39		441	455
	Federal National Mortgage Association, 4.50%, 01/01/40		89	89
	Federal National Mortgage Association, 4.50%, 01/01/40		299	300
	Federal National Mortgage Association, 4.50%, 01/01/40		199	200
	Federal National Mortgage Association, 4.50%, 01/01/40		108	108
	Federal National Mortgage Association, 4.50%, 01/01/40		297	298
	Federal National Mortgage Association, 4.50%, 01/01/40		199	200
	Federal National Mortgage Association, 4.50%, 01/01/40		40	41
	Federal National Mortgage Association, 5.00%, 01/01/40		179	185
	Federal National Mortgage Association, 5.00%, 01/01/40		101	104
	Federal National Mortgage Association, 5.00%, 01/01/40		4,281	4,421
	Federal National Mortgage Association, 5.00%, 01/01/40		5,863	6,056
	Federal National Mortgage Association, 4.50%, 02/01/40		47	47
	Federal National Mortgage Association, 4.50%, 02/01/40		42	42
	Federal National Mortgage Association, 5.00%, 02/01/40		114	118
	Federal National Mortgage Association, 5.00%, 02/01/40		64	66
	Federal National Mortgage Association, 6.00%, 03/01/40		486	517
	Federal National Mortgage Association, 6.00%, 12/31/49		233	251
	Federal National Mortgage Association REMIC, 10.40%, 04/25/19		1	1
	Federal National Mortgage Association REMIC, 0.00%, 05/25/35 (0.00% until LIBOR reaches 7.00%) (i) (s) (u)		85	83
	Federal National Mortgage Association REMIC, 0.00%, 09/25/36 (0.00% until LIBOR reaches 7.00%) (i) (s) (u)		139	136
	Federal National Mortgage Association REMIC, 1.09%, 04/25/48 (i)		4,026	4,035
	Federal National Mortgage Association REMIC, 1.19%, 07/25/48 (i)		4,287	4,274
				146,362
Government National Mortgage Association - 2.4%
	Government National Mortgage Association, 6.00%, 06/15/34		113	121
	Government National Mortgage Association, 6.00%, 10/15/38		181	195
	Government National Mortgage Association, 6.00%, 10/15/38		33	35
	Government National Mortgage Association, 6.00%, 11/15/38		61	65
	Government National Mortgage Association, 6.00%, 11/15/38		67	72
	Government National Mortgage Association, 6.00%, 12/15/38		20	22
	Government National Mortgage Association, 6.00%, 12/15/38		25	27
	Government National Mortgage Association, 6.00%, 12/15/38		35	37
	Government National Mortgage Association, 6.00%, 12/15/38		110	118
	Government National Mortgage Association, 6.00%, 01/15/39		21	22
	Government National Mortgage Association, 6.00%, 01/15/39		40	43
	Government National Mortgage Association, 6.00%, 01/15/39		24	26
	Government National Mortgage Association, 6.00%, 01/15/39		90	97
	Government National Mortgage Association, 6.00%, 01/15/39		51	55
	Government National Mortgage Association, 6.00%, 01/15/39		39	42
	Government National Mortgage Association, 6.00%, 01/15/39		94	101
	Government National Mortgage Association, 6.00%, 01/15/39		37	39
	Government National Mortgage Association, 6.00%, 01/15/39		99	106
	Government National Mortgage Association, 5.00%, 04/15/39		144	150
	Government National Mortgage Association, 5.00%, 04/15/39		109	114
	Government National Mortgage Association, 5.00%, 04/15/39		764	795
	Government National Mortgage Association, 5.00%, 04/15/39		29	31
	Government National Mortgage Association, 5.00%, 04/15/39		24	25
	Government National Mortgage Association, 5.00%, 05/15/39		929	968
	Government National Mortgage Association, 5.00%, 05/15/39		68	70
	Government National Mortgage Association, 5.00%, 05/15/39		55	58
	Government National Mortgage Association, 5.00%, 05/15/39		24	25
	Government National Mortgage Association, 5.00%, 05/15/39		45	47
	Government National Mortgage Association, 5.00%, 05/15/39		38	39
	Government National Mortgage Association, 5.00%, 05/15/39		42	43
	Government National Mortgage Association, 5.00%, 05/15/39		153	160
	Government National Mortgage Association, 5.00%, 05/15/39		73	76
	Government National Mortgage Association, 5.00%, 05/15/39		766	798
	Government National Mortgage Association, 5.00%, 05/15/39		110	115
	Government National Mortgage Association, 5.00%, 05/15/39		283	295
	Government National Mortgage Association, 5.00%, 05/15/39		678	706
	Government National Mortgage Association, 5.00%, 05/15/39		193	201
	Government National Mortgage Association, 5.00%, 05/15/39		60	62
	Government National Mortgage Association, 5.00%, 05/15/39		61	64
	Government National Mortgage Association, 5.00%, 05/15/39		58	60
	Government National Mortgage Association, 5.00%, 05/15/39		298	310
	Government National Mortgage Association, 5.00%, 05/15/39		62	65
	Government National Mortgage Association, 5.00%, 05/15/39		162	169
	Government National Mortgage Association, 4.50%, 06/15/39		195	198
	Government National Mortgage Association, 4.50%, 06/15/39		295	299
	Government National Mortgage Association, 5.00%, 06/15/39		274	286
	Government National Mortgage Association, 5.00%, 06/15/39		61	64
	Government National Mortgage Association, 5.00%, 06/15/39		460	479
	Government National Mortgage Association, 5.00%, 06/15/39		168	175
	Government National Mortgage Association, 5.00%, 06/15/39		656	683
	Government National Mortgage Association, 5.00%, 06/15/39		262	273
	Government National Mortgage Association, 5.00%, 06/15/39		1,248	1,300
	Government National Mortgage Association, 5.00%, 06/15/39		84	87
	Government National Mortgage Association, 5.00%, 06/15/39		164	171
	Government National Mortgage Association, 5.00%, 07/15/39		964	1,004
	Government National Mortgage Association, 5.00%, 07/15/39		25	26
	Government National Mortgage Association, 5.00%, 07/15/39		94	98
	Government National Mortgage Association, 5.00%, 07/15/39		99	103
	Government National Mortgage Association, 4.50%, 09/15/39		390	396
	Government National Mortgage Association, 5.00%, 09/15/39		23	24
	Government National Mortgage Association, 5.00%, 09/15/39		279	291
	Government National Mortgage Association, 5.00%, 09/15/39		80	83
	Government National Mortgage Association, 5.00%, 09/15/39		224	233
	Government National Mortgage Association, 5.00%, 09/15/39		55	58
	Government National Mortgage Association, 5.00%, 09/15/39		1,968	2,050
	Government National Mortgage Association, 5.00%, 09/15/39		587	611
	Government National Mortgage Association, 5.00%, 09/15/39		321	335
	Government National Mortgage Association, 4.50%, 10/15/39		197	200
	Government National Mortgage Association, 4.50%, 10/15/39		98	100
	Government National Mortgage Association, 4.50%, 10/15/39		99	101
	Government National Mortgage Association, 5.00%, 10/15/39		691	720
	Government National Mortgage Association, 5.00%, 10/15/39		296	309
	Government National Mortgage Association, 5.00%, 10/15/39		496	516
	Government National Mortgage Association, 5.00%, 10/15/39		1,177	1,227
	Government National Mortgage Association, 5.00%, 10/15/39		296	308
	Government National Mortgage Association, 5.00%, 10/15/39		494	514
	Government National Mortgage Association, 5.00%, 10/15/39		198	206
	Government National Mortgage Association, 5.00%, 10/15/39		496	517
				20,714
	Total Government and Agency Obligations (cost $410,948)			416,799
SHORT TERM INVESTMENTS - 18.0%
Mutual Funds - 12.8%
	JNL Money Market Fund, 0.03% (a) (h)		109,910	109,910
Securities Lending Collateral - 5.2%
	Securities Lending Cash Collateral Fund LLC, 0.24% (a) (h)		41,057	41,057
	Securities Lending Liquidating Fund LLC, 0.38% (a) (h)		3,847	3,847
				44,904
	Total Short Term Investments (cost $154,814)			154,814
Total Investments - 109.4% (cost $953,974)				941,911
Other Assets and Liabilities, Net -  (9.4%)				(80,658)
Total Net Assets - 100%				$      861,253

JNL/Goldman Sachs Emerging Markets Debt Fund
CORPORATE BONDS AND NOTES - 9.4%
FINANCIALS - 9.4%
	Barclays Bank Plc Credit Linked Note (Indonesia Government, 10.00%, 07/15/17, Moody's rating Ba2) (f)	IDR	32,000,000	$          3,841
	Barclays Bank Plc Credit Linked Note (Indonesia Government, 10.00%, 07/15/17, Moody's rating Ba2) (f)	IDR	50,000,000	6,002
	Deutsche Bank AG Credit Linked Note, (Indonesia Government, 10.75%, 05/15/16, Moody rating Ba2) (f)	IDR	20,500,000	2,583
	Hongkong & Shanghai Banking Corp.-Credit Linked Note (Indonesia Government, 10.75%, 05/15/16, Moody rating Ba2) (f)	IDR	91,000,000	11,049
	Hongkong & Shanghai Banking Corp.-Credit Linked Note (Indonesia Government, 10.00%, 07/15/17, Moody's rating Ba2) (f)	IDR	65,000,000	7,820
	JPMorgan Chase & Co., 6.00%, 10/10/12 (f)	PHP	40,000	892
	JPMorgan Chase & Co. Credit Linked Note, (Indonesia Government, 10.00%, 07/15/17, Moody's rating Ba2) (f)	IDR	62,100,000	7,287
	Red Arrow International Leasing Plc, 8.38%, 06/30/12	RUB	36,770	1,258
	Total Corporate Bonds and Notes (cost $38,447)			40,732
GOVERNMENT AND AGENCY OBLIGATIONS - 69.7%
GOVERNMENT SECURITIES - 69.8%
Sovereign - 65.8%
	Brazil Notas do Tesouro Nacional Series F, 10.00%, 01/01/17	BRL	65,265	33,877
	Colombia Government International Bond, 9.85%, 06/28/27	COP	25,200,000	15,401
	Egypt Government Bond, 8.75%, 07/18/12	EGP	5,000	919
	Hungary Government Bond, 8.00%, 02/12/15	HUF	3,615,000	19,740
	Israel Government International Bond, 7.00%, 04/29/11	ILS	57,300	17,272
	Malaysia Government Bond, 3.74%, 02/27/15	MYR	48,100	14,766
	Mexican Bonos, 10.00%, 12/05/24	MXN	205,589	19,583
	Nota Do Tesouro Nacional, Index Linked, 6.00%, 05/15/15	BRL	4,769	5,138
	Peru Government International Bond, 9.91%, 05/05/15	PEN	10,166	4,491
	Peru Government International Bond, 8.20%, 08/12/26	PEN	9,397	3,870
	Poland Government Bond, 1.49%, 07/25/12	PLN	65,350	20,585
	Poland Government Bond, 5.25%, 04/25/13	PLN	85,475	30,458
	Repbulic of Argentina, 2.84%, 12/15/35 (i)	EUR	15,900	1,418
	Republic of Argentina, 3.72%, 12/15/35 (i)	ARS	121,000	2,075
	Republic of South Africa Government Bond, 13.50%, 09/15/15	ZAR	119,560	20,364
	Thailand Government Bond, 3.63%, 05/22/15	THB	783,700	24,345
	Thailand Government Bond, 4.13%, 11/18/16	THB	230,000	7,277
	Turkey Government Bond, 11.00%, 08/06/14	TRY	18,275	12,320
	Turkey Government International Bond, 16.00%, 03/07/12	TRY	43,800	32,451
				286,350
Treasury Inflation Index Securities - 3.9%
	Mexican Udibonos Inflation Indexed Bond, 4.00%, 11/15/40 (f) (r)	MXN	50,600	4,022
	Poland Government Inflation Indexed Bond, 3.00%, 08/24/16 (r)	PLN	4,158	1,439
	Republic of Turkey Inflation Indexed Note, 10.00%, 02/15/12 (r)	TRY	5,699	4,338
	Uruguay Government International Inflation Index Bond, 5.00%, 09/14/18 (r)	UYU	124,503	6,791
	Uruguay Government International Inflation Index Bond, 3.70%, 06/26/37 (r)	UYU	11,930	576
				17,166
	Total Government and Agency Obligations (cost $292,569)			303,516
SHORT TERM INVESTMENTS - 15.4%
Mutual Funds - 15.4%
	JNL Money Market Fund, 0.03% (a) (h)		66,806	66,806
	Total Short Term Investments (cost $66,806)			66,806
Total Investments - 94.5% (cost $397,822)				411,054
Other Assets and Liabilities, Net - 5.5%				23,738
Total Net Assets - 100%				$      434,792
JNL/Goldman Sachs Mid Cap Value Fund
COMMON STOCKS - 96.1%
CONSUMER DISCRETIONARY - 13.5%
	Abercrombie & Fitch Co. - Class A		9	$             421
	CBS Corp. - Class B		452	6,302
	DISH Network Corp.		329	6,856
	Fossil Inc. (c)		53	1,994
	Guess? Inc.		63	2,966
	HanesBrands Inc. (c)		37	1,037
	Harley-Davidson Inc.		168	4,710
	J.C. Penney Co. Inc.		122	3,922
	Johnson Controls Inc.		83	2,754
	Liberty Media Corp. - Interactive (c)		322	4,931
	Newell Rubbermaid Inc.		318	4,830
	NVR Inc. (c)		4	3,004
	Penn National Gaming Inc. (c)		77	2,143
				45,870
CONSUMER STAPLES - 3.5%
	BJ's Wholesale Club Inc. (c) (e)		64	2,378
	Hormel Foods Corp.		20	849
	JM Smucker Co.		30	1,799
	Molson Coors Brewing Co.		73	3,057
	Safeway Inc.		132	3,274
	Sara Lee Corp.		40	553
				11,910
ENERGY - 10.2%
	Concho Resources Inc. (c)		62	3,127
	Dril-Quip Inc. (c) (e)		82	4,966
	Forest Oil Corp. (c)		108	2,799
	Newfield Exploration Co. (c)		149	7,772
	Oceaneering International Inc. (c)		18	1,160
	Range Resources Corp.		122	5,721
	Weatherford International Ltd. (c)		158	2,503
	Whiting Petroleum Corp. (c)		81	6,572
				34,620
FINANCIALS - 28.9%
	Alexandria Real Estate Equities Inc. (e)		45	3,051
	AvalonBay Communities Inc.		32	2,776
	Boston Properties Inc. (e)		54	4,091
	Comerica Inc.		105	3,981
	Digital Realty Trust Inc. (e)		73	3,981
	Douglas Emmett Inc.		136	2,096
	Essex Property Trust Inc. (e)		28	2,562
	Everest Re Group Ltd.		59	4,749
	Fifth Third Bancorp		359	4,874
	First Horizon National Corp. (c)		218	3,056
	Genworth Financial Inc. - Class A (c)		193	3,541
	Hartford Financial Services Group Inc.		210	5,973
	Host Hotels & Resorts Inc. (c) (e)		244	3,568
	Invesco Ltd.		275	6,023
	Janus Capital Group Inc.		152	2,168
	Lincoln National Corp.		61	1,877
	M&T Bank Corp. (e)		31	2,491
	Marsh & McLennan Cos. Inc.		194	4,748
	Marshall & Ilsley Corp.		220	1,770
	Principal Financial Group Inc.		212	6,180
	Progressive Corp. (c)		142	2,716
	Raymond James Financial Inc.		29	788
	SLM Corp. (c)		415	5,201
	SunTrust Banks Inc.		200	5,368
	WR Berkley Corp.		258	6,720
	XL Capital Ltd. - Class A		223	4,206
				98,555
HEALTH CARE - 5.2%
	Aetna Inc.		141	4,968
	Biogen Idec Inc. (c)		84	4,820
	CR Bard Inc.		45	3,911
	Hologic Inc. (c)		126	2,330
	Kinetic Concepts Inc. (c)		33	1,588
				17,617
INDUSTRIALS - 10.6%
	BE Aerospace Inc. (c)		80	2,424
	Cooper Industries Plc		49	2,347
	Cummins Inc.		54	3,365
	Eaton Corp.		78	5,885
	Equifax Inc.		95	3,383
	Fluor Corp.		33	1,550
	JetBlue Airways Corp. (c)		37	208
	Kansas City Southern (c)		66	2,389
	Parker Hannifin Corp.		70	4,531
	Pentair Inc.		57	2,035
	Republic Services Inc. - Class A		99	2,877
	Ryder System Inc. (e)		61	2,370
	Snap-On Inc.		40	1,712
	Textron Inc.		44	937
				36,013
INFORMATION TECHNOLOGY - 5.8%
	Amphenol Corp. - Class A		86	3,620
	CommScope Inc. (c)		124	3,466
	IAC/InterActiveCorp. (c)		167	3,791
	ON Semiconductor Corp. (c)		481	3,852
	Parametric Technology Corp. (c)		200	3,612
	Teradyne Inc. (c)		140	1,567
				19,908
MATERIALS - 7.1%
	CF Industries Holdings Inc.		14	1,256
	Cliffs Natural Resources Inc.		72	5,080
	FMC Corp. (e)		53	3,190
	Huntsman Corp.		186	2,246
	International Paper Co.		130	3,209
	Pactiv Corp. (c)		82	2,056
	Steel Dynamics Inc.		95	1,666
	United States Steel Corp.		43	2,714
	Vulcan Materials Co.		55	2,613
				24,030
TELECOMMUNICATION SERVICES - 2.4%
	CenturyTel Inc.		62	2,182
	Clearwire Corp. (c) (e)		304	2,174
	Sprint Nextel Corp. (c)		1,037	3,941
				8,297
UTILITIES - 8.9%
	Alliant Energy Corp.		51	1,681
	CMS Energy Corp.		242	3,747
	DPL Inc.		102	2,761
	Edison International		119	4,058
	FirstEnergy Corp.		48	1,862
	Great Plains Energy Inc.		39	717
	Northeast Utilities		75	2,076
	NV Energy Inc.		140	1,726
	Pinnacle West Capital Corp.		26	992
	PPL Corp.		114	3,159
	Questar Corp.		116	5,007
	SCANA Corp.		44	1,656
	Xcel Energy Inc.		48	1,026
				30,468
	Total Common Stocks (cost $285,561)			327,288
NON-U.S. GOVERNMENT AGENCY ASSET-BACKED SECURITIES - 0.0%
	Sigma Finance, Inc. (d) (f) (u)		$                398	17
	Total Non-U.S. Government Agency Asset-Backed Securities (cost $398)			17
SHORT TERM INVESTMENTS - 9.1%
Mutual Funds - 4.2%
	JNL Money Market Fund, 0.03% (a) (h)		14,319	14,319
Securities Lending Collateral - 4.9%
	Securities Lending Cash Collateral Fund LLC, 0.24% (a) (h)		12,708	12,708
	Securities Lending Liquidating Fund LLC, 0.38% (a) (h)		4,249	4,249
				16,957
	Total Short Term Investments (cost $31,276)			31,276
Total Investments - 105.2% (cost $317,235)				358,581
Other Assets and Liabilities, Net -  (5.2%)				(17,863)
Total Net Assets - 100%				$      340,718
JNL/Ivy Asset Strategy Fund
COMMON STOCKS - 79.9%
CONSUMER DISCRETIONARY - 16.5%
	Amazon.com Inc. (c)		8	$          1,140
	Compagnie Financiere Richemont SA		111	4,283
	Ctrip.com International Ltd. - ADR (c)		53	2,093
	Hyundai Motor Co.		143	14,608
	Li & Fung Ltd.		1,022	5,028
	LVMH Moet Hennessy Louis Vuitton SA		35	4,068
	Sands China Ltd. (c)		8,535	13,565
	Starwood Hotels & Resorts Worldwide Inc.		168	7,854
	Wynn Macau Ltd. (c)		1,991	2,872
	Wynn Resorts Ltd.		236	17,930
				73,441
CONSUMER STAPLES - 3.7%
	Colgate-Palmolive Co.		53	4,519
	Hengan International Group Co. Ltd.		394	2,934
	Mead Johnson Nutrition Co.		57	2,971
	Philip Morris International Inc.		115	6,004
				16,428
ENERGY - 8.0%
	Anadarko Petroleum Corp. (o)		50	3,605
	China Shenhua Energy Co. Ltd.		1,280	5,529
	CNOOC Ltd.		2,538	4,178
	Halliburton Co. (o)		261	7,853
	Schlumberger Ltd.		105	6,654
	SeaDrill Ltd.		224	5,219
	Transocean Ltd. (c)		28	2,401
				35,439
FINANCIALS - 14.2%
	Annaly Capital Management Inc.		451	7,747
	Banco Santander Brasil SA - ADR		406	5,048
	BOC Hong Kong Holdings Ltd.		525	1,251
	China Life Insurance Co. Ltd.		2,232	10,694
	China Resources Land Ltd.		990	2,152
	Hong Kong Exchanges & Clearing Ltd.		292	4,869
	ICICI Bank Ltd.		151	3,212
	Industrial & Commercial Bank of China		13,436	10,245
	Renhe Commercial Holdings Co. Ltd.		12,854	2,980
	Standard Chartered Plc		548	14,945
				63,143
HEALTH CARE - 2.4%
	Amgen Inc. (c)		77	4,596
	Gilead Sciences Inc. (c)		93	4,248
	Vertex Pharmaceuticals Inc. (c)		48	1,954
				10,798
INDUSTRIALS - 5.5%
	A P Moller - Maersk A/S Class B		1	6,774
	Komatsu Ltd.		398	8,352
	Koninklijke Philips Electronics NV		32	1,013
	Larsen & Toubro Ltd.		62	2,241
	Mitsubishi Corp.		241	6,305
				24,685
INFORMATION TECHNOLOGY - 24.8%
	Accenture Plc		194	8,117
	Apple Inc. (c) (o)		52	12,275
	Applied Materials Inc.		346	4,659
	ASML Holding NV		91	3,266
	Cisco Systems Inc. (c)		149	3,865
	Cognizant Technology Solutions Corp. (c)		83	4,226
	Hewlett-Packard Co. (o)		72	3,800
	Infosys Technologies Ltd. - ADR		37	2,172
	Intel Corp.		136	3,027
	Juniper Networks Inc. (c) (o)		100	3,053
	Lenovo Group Ltd.		2,696	1,861
	MediaTek Inc.		673	11,677
	Microsoft Corp.		292	8,544
	NetApp Inc. (c)		117	3,813
	PMC - Sierra Inc. (c)		430	3,834
	Redecard SA		264	4,888
	Samsung Electronics Co. Ltd.		12	8,892
	Taiwan Semiconductor Manufacturing Co. Ltd.		6,103	11,819
	Visa Inc. - Class A (o)		71	6,449
				110,237
MATERIALS - 4.3%
	Anglo American Plc (c)		34	1,481
	Freeport-McMoRan Copper & Gold Inc.		32	2,665
	Holcim Ltd. (c)		48	3,593
	Lafarge SA		48	3,399
	Xstrata Plc (c)		422	7,986
				19,124
TELECOMMUNICATION SERVICES - 0.5%
	MTN Group Ltd.		140	2,158
	Total Common Stocks (cost $338,169)			355,453
PREFERRED STOCKS - 1.5%
CONSUMER DISCRETIONARY - 1.5%
	Volkswagen AG		31	2,880
	Volkswagen AG Rights (f) (t)		42	3,863
	Total Preferred Stocks (cost $6,400)			6,743
OPTIONS - 0.1%
	IShares MSCI Emerging Market Index Put Option, Strike Price 38, Expiration 06/19/10		1	37
	IShares MSCI Emerging Market Index Put Option, Strike Price 38, Expiration 06/19/10		1	44
	IShares MSCI Emerging Market Index Put Option, Strike Price 39, Expiration 06/19/10		-	16
	IShares MSCI Emerging Market Index Put Option, Strike Price 41, Expiration 06/19/10		1	163
	Total Options (cost $563)			260
PRECIOUS METALS - 9.5%
	Gold Bullion		38,107	42,391
	Total Precious Metals (cost $42,875)			42,391
RIGHTS - 0.0%
	Volkswagen AG Rights (c)		31	20
	Total Rights (cost $0)			20
SHORT TERM INVESTMENTS - 9.9%
Mutual Funds - 9.9%
	JNL Money Market Fund, 0.03% (a) (h)		44,046	44,046
	Total Short Term Investments (cost $44,046)			44,046
Total Investments - 100.9% (cost $432,053)				448,913
Other Assets and Liabilities, Net -  (0.9%)				(3,906)
Total Net Assets - 100%				$      445,007
JNL/JPMorgan International Value Fund
COMMON STOCKS - 96.8%
CONSUMER DISCRETIONARY - 7.9%
	Aisin Seiki Co. Ltd.		150	$          4,492
	Compagnie Generale des Etablissements Michelin		81	5,936
	Daimler AG (c)		86	4,067
	GKN Plc (c)		1,880	3,937
	InterContinental Hotels Group Plc		302	4,732
	LG Electronics Inc.		55	5,621
	Nissan Motor Co. Ltd. (c)		716	6,135
	Sodexo SA (e)		82	4,919
				39,839
CONSUMER STAPLES - 3.6%
	Imperial Tobacco Group Plc		113	3,452
	Japan Tobacco Inc.		1	3,849
	Kirin Holdings Co. Ltd.		246	3,629
	Unilever NV		231	7,002
				17,932
ENERGY - 9.9%
	BG Group Plc		300	5,197
	BP Plc		1,556	14,724
	Cairn Energy Plc (c)		1,018	6,442
	China Petroleum & Chemical Corp. (e)		2,222	1,820
	Royal Dutch Shell Plc - Class A		565	16,381
	Santos Ltd. (e)		380	5,115
				49,679
FINANCIALS - 27.3%
	African Bank Investments Ltd.		1,101	5,381
	AXA SA		381	8,474
	Banco Bilbao Vizcaya Argentaria SA (e)		491	6,715
	Banco Santander SA		604	8,029
	Barclays Plc		1,224	6,695
	BNP Paribas		92	7,031
	China Bank Ltd.		590	3,528
	China Merchants Bank Co. Ltd. (e)		2,488	6,728
	Deutsche Bank AG		80	6,160
	DnB NOR ASA (c)		431	4,930
	HSBC Holdings Plc		1,535	15,558
	ING Groep NV (c)		878	8,764
	KBC Groep NV (c)		108	5,235
	Legal & General Group Plc		3,455	4,616
	Lloyds Banking Group Plc (c)		3,784	3,604
	Mitsui Fudosan Co. Ltd.		238	4,040
	Sumitomo Mitsui Financial Group Inc.		294	9,727
	Turkiye Garanti Bankasi AS		909	4,251
	UniCredit SpA (c)		2,820	8,332
	Zurich Financial Services AG		39	9,896
				137,694
HEALTH CARE - 4.3%
	Bayer AG		60	4,025
	GlaxoSmithKline Plc		287	5,512
	Sanofi-Aventis SA		161	12,030
				21,567
INDUSTRIALS - 17.2%
	Bouygues SA		81	4,066
	Cookson Group Plc (c)		461	3,825
	Experian Plc		396	3,897
	Hamburger Hafen und Logistik AG (e)		61	2,329
	Hutchison Whampoa Ltd.		1,237	9,049
	Koninklijke Philips Electronics NV (e)		188	6,036
	Kubota Corp.		581	5,295
	Marubeni Corp.		875	5,438
	Mitsubishi Corp.		247	6,478
	Mitsubishi Electric Corp. (c)		802	7,369
	Mitsui & Co. Ltd.		454	7,626
	Nippon Sheet Glass Co. Ltd.		854	2,521
	Nippon Yusen KK		1,166	4,602
	Ruukki Group Oyj (c)		592	1,614
	Schneider Electric SA		41	4,782
	Siemens AG		76	7,588
	Sumitomo Heavy Industries Ltd.		725	4,366
				86,881
INFORMATION TECHNOLOGY - 7.2%
	ASML Holding NV (e)		132	4,713
	FUJIFILM Holdings Corp.		234	8,049
	Fujitsu Ltd.		833	5,453
	HON HAI Precision Industry Co. Ltd.		1,142	4,945
	Nintendo Co. Ltd. (e)		20	6,729
	Ricoh Co. Ltd. (e)		422	6,590
				36,479
MATERIALS - 6.1%
	ArcelorMittal (e)		138	6,038
	First Quantum Minerals Ltd. (e)		57	4,693
	Lafarge SA		66	4,676
	Lanxess AG		133	6,103
	Petropavlovsk Plc		143	2,585
	Rhodia SA (c)		278	5,750
	Sidenor Steel Production & Manufacturing Co. SA (c)		180	899
				30,744
TELECOMMUNICATION SERVICES - 6.4%
	BT Group Plc		2,300	4,324
	Koninklijke KPN NV		443	7,019
	Singapore Telecommunications Ltd.		2,073	4,697
	Telekomunikasi Indonesia Tbk PT		3,016	2,668
	Vodafone Group Plc		5,931	13,680
				32,388
UTILITIES - 6.9%
	Centrica Plc		1,479	6,594
	GDF Suez		252	9,748
	National Grid Plc		724	7,052
	Perusahaan Gas Negara PT		7,357	3,436
	Snam Rete Gas SpA		1,539	7,802
				34,632
	Total Common Stocks (cost $459,979)			487,835
PREFERRED STOCKS - 0.7%
CONSUMER DISCRETIONARY - 0.7%
	Volkswagen AG (e)		40	3,633
	Total Preferred Stocks (cost $3,659)			3,633
RIGHTS - 0.0%
	Volkswagen AG Rights (c)		40	25
	Total Rights (cost $0)			25
NON-U.S. GOVERNMENT AGENCY ASSET-BACKED SECURITIES - 0.0%
	Sigma Finance, Inc. (d) (f) (u)		$             1,713	73
	Total Non-U.S. Government Agency Asset-Backed Securities (cost $1,713)			73
SHORT TERM INVESTMENTS - 9.6%
Mutual Funds - 2.1%
	JNL Money Market Fund, 0.03% (a) (h)		10,681	10,681
Securities Lending Collateral - 7.5%
	Securities Lending Cash Collateral Fund LLC, 0.24% (a) (h)		29,279	29,279
	Securities Lending Liquidating Fund LLC, 0.38% (a) (h)		8,440	8,440
				37,719
	Total Short Term Investments (cost $48,400)			48,400
Total Investments - 107.1% (cost $513,751)				539,966
Other Assets and Liabilities, Net -  (7.1%)				(35,781)
Total Net Assets - 100%				$      504,185

JNL/JPMorgan MidCap Growth Fund
COMMON STOCKS - 98.5%
CONSUMER DISCRETIONARY - 21.5%
	Amazon.com Inc. (c)	11	$          1,547
	Bed Bath & Beyond Inc. (c)	54	2,376
	Chico's FAS Inc. (c)	101	1,456
	Chipotle Mexican Grill Inc. - Class A (c)	8	868
	Dick's Sporting Goods Inc. (c)	96	2,496
	Discovery Communications Inc. - Class A (c)	41	1,368
	Education Management Corp. (c)	102	2,240
	Gentex Corp.	105	2,035
	Harley-Davidson Inc.	45	1,252
	J Crew Group Inc. (c)	36	1,634
	Kohl's Corp. (c)	31	1,704
	Lamar Advertising Co. (c)	41	1,422
	NetFlix Inc. (c) (e)	20	1,467
	Nordstrom Inc.	62	2,512
	Phillips-Van Heusen Corp.	40	2,289
	Polo Ralph Lauren Corp.	19	1,590
	Royal Caribbean Cruises Ltd. (c) (e)	62	2,039
	Sherwin-Williams Co.	34	2,321
	Staples Inc.	56	1,310
	Starwood Hotels & Resorts Worldwide Inc.	44	2,038
	Williams-Sonoma Inc.	99	2,603
			38,567
CONSUMER STAPLES - 0.7%
	Whole Foods Market Inc. (c)	33	1,205
ENERGY - 5.4%
	Cabot Oil & Gas Corp. - Class A	30	1,114
	Cameron International Corp. (c)	42	1,805
	Forest Oil Corp. (c)	80	2,065
	Noble Energy Inc.	20	1,424
	Oceaneering International Inc. (c)	26	1,629
	Southwestern Energy Co. (c)	39	1,595
			9,632
FINANCIALS - 10.8%
	ACE Ltd.	33	1,705
	Apollo Global Management LLC (f) (s) (u)	73	587
	BB&T Corp.	44	1,435
	BlackRock Inc.	6	1,285
	BOK Financial Corp.	24	1,264
	Comerica Inc.	35	1,343
	HCC Insurance Holdings Inc.	41	1,140
	Invesco Ltd.	62	1,352
	Moody's Corp.	52	1,547
	MSCI Inc. (c)	43	1,552
	Northern Trust Corp.	26	1,461
	Och-Ziff Capital Management Group LLC	91	1,448
	T. Rowe Price Group Inc.	34	1,848
	TD Ameritrade Holding Corp. (c)	72	1,373
			19,340
HEALTH CARE - 12.4%
	Alexion Pharmaceuticals Inc. (c)	23	1,245
	BioMarin Pharmaceutical Inc. (c) (e)	81	1,881
	Biovail Corp.	154	2,586
	Brookdale Senior Living Inc. (c)	68	1,421
	Cerner Corp. (c) (e)	15	1,264
	Covance Inc. (c)	28	1,743
	DaVita Inc. (c)	27	1,705
	Dentsply International Inc.	35	1,212
	Express Scripts Inc. (c)	18	1,872
	Humana Inc. (c)	31	1,469
	Illumina Inc. (c) (e)	27	1,046
	Myriad Genetics Inc. (c)	36	860
	UnitedHealth Group Inc.	81	2,630
	Zimmer Holdings Inc. (c)	22	1,279
			22,213
INDUSTRIALS - 19.4%
	AECOM Technology Corp. (c)	56	1,577
	Canadian National Railway Co.	28	1,697
	Carlisle Cos. Inc.	38	1,429
	Corrections Corp. of America (c)	69	1,377
	Cummins Inc.	39	2,424
	Delta Air Lines Inc. (c)	168	2,444
	Expeditors International Washington Inc.	47	1,746
	First Solar Inc. (c) (e)	5	580
	Goodrich Corp.	31	2,179
	Landstar System Inc.	50	2,099
	Lennox International Inc.	51	2,247
	McDermott International Inc. (c)	53	1,420
	Precision Castparts Corp.	21	2,723
	Robert Half International Inc.	47	1,439
	Roper Industries Inc. (e)	37	2,127
	Stericycle Inc. (c)	27	1,475
	Wabtec Corp. (e)	35	1,478
	Waste Connections Inc. (c)	50	1,690
	WW Grainger Inc.	25	2,714
			34,865
INFORMATION TECHNOLOGY - 26.5%
	Alliance Data Systems Corp. (c) (e)	25	1,574
	Amdocs Ltd. (c)	131	3,951
	Amphenol Corp. - Class A	47	1,973
	Ansys Inc. (c) (e)	36	1,533
	Broadcom Corp. - Class A (c)	52	1,712
	Cognizant Technology Solutions Corp. (c)	70	3,569
	CommScope Inc. (c)	45	1,269
	Concur Technologies Inc. (c) (e)	37	1,517
	Dolby Laboratories Inc. - Class A (c)	23	1,367
	Equinix Inc. (c) (e)	15	1,499
	F5 Networks Inc. (c)	28	1,704
	Hewitt Associates Inc. - Class A (c)	55	2,172
	Juniper Networks Inc. (c)	62	1,905
	Marvell Technology Group Ltd. (c)	120	2,444
	MasterCard Inc.	8	1,908
	McAfee Inc. (c)	35	1,384
	MEMC Electronic Materials Inc. (c)	84	1,294
	Microchip Technology Inc. (e)	39	1,091
	Micros Systems Inc. (c)	54	1,785
	NetApp Inc. (c)	78	2,523
	Salesforce.com Inc. (c)	18	1,310
	Sybase Inc. (c)	48	2,228
	Tyco Electronics Ltd.	79	2,179
	Varian Semiconductor Equipment Associates Inc. (c)	56	1,865
	Western Union Co.	108	1,833
			47,589
MATERIALS - 0.9%
	Grief Inc.	32	1,758
TELECOMMUNICATION SERVICES - 0.9%
	tw telecom inc. (c)	93	1,689
	Total Common Stocks (cost $146,020)		176,858
NON-U.S. GOVERNMENT AGENCY ASSET-BACKED SECURITIES - 0.0%
	Sigma Finance, Inc. (d) (f) (u)	$                456	19
	Total Non-U.S. Government Agency Asset-Backed Securities (cost $456)		19
SHORT TERM INVESTMENTS - 7.3%
Mutual Funds - 1.3%
	JNL Money Market Fund, 0.03% (a) (h)	2,281	2,281
Securities Lending Collateral - 6.0%
	Securities Lending Cash Collateral Fund LLC, 0.24% (a) (h)	6,652	6,652
	Securities Lending Liquidating Fund LLC, 0.38% (a) (h)	4,191	4,191
			10,843
	Total Short Term Investments (cost $13,124)		13,124
Total Investments - 105.8% (cost $159,600)			190,001
Other Assets and Liabilities, Net -  (5.8%)			(10,377)
Total Net Assets - 100%			$      179,624
JNL/JPMorgan U.S. Government & Quality Bond Fund
NON-U.S. GOVERNMENT AGENCY ASSET-BACKED SECURITIES - 3.1%
	ACE Securities Corp. REMIC, 0.38%, 02/25/31 (i)	$                481	$             393
	Banc of America Commercial Mortgage Inc. REMIC, 6.62%, 03/11/32 (i) (s) (u)	2,068	2,291
	Commercial Mortgage Pass-Through Certificates REMIC, 5.45%, 07/16/34 (s) (u)	3,215	3,304
	CompuCredit Acquired Portfolio Voltage Master Trust, 0.42%, 09/15/18 (f) (i) (s) (u)	622	466
	Conseco Financial Corp. REMIC, 7.07%, 01/15/29	188	194
	Countrywide Alternative Loan Trust REMIC, 0.45%, 07/20/46 (i)	1,279	505
	Countrywide Alternative Loan Trust REMIC, 0.43%, 12/20/46 (i)	1,502	775
	Countrywide Home Equity Loan Trust, 0.54%, 02/15/34 (i)	668	325
	IndyMac Seconds Asset Backed Trust REMIC, 0.38%, 06/25/36 (i) (u)	997	98
	LB-UBS Commercial Mortgage Trust REMIC, 5.35%, 11/15/38	2,520	2,529
	MASTR Adjustable Rate Mortgages Trust REMIC, 3.31%, 02/25/34 (i)	814	716
	Morgan Stanley Mortgage Loan Trust REMIC, 2.85%, 10/25/34 (i)	649	550
	Nomura Asset Acceptance Corp. REMIC, 6.50%, 03/25/34 (t)	5,025	4,793
	Provident Funding Mortgage Loan Trust REMIC, 3.89%, 10/25/35 (i)	554	504
	SACO I Inc. REMIC, 0.38%, 06/25/36 (i) (u)	555	102
	Sigma Finance, Inc. (d) (f) (u)	2,177	93
	Structured Asset Mortgage Investments Inc. REMIC, 0.46%, 08/25/36 (i)	1,603	890
	Vendee Mortgage Trust REMIC, 6.75%, 02/15/31	3,031	3,305
	Wells Fargo Mortgage Backed Securities Trust REMIC, 6.00%, 06/25/37	1,077	872
	Total Non-U.S. Government Agency Asset-Backed Securities (cost $29,176)		22,705
CORPORATE BONDS AND NOTES - 0.9%
FINANCIALS - 0.9%
	General Electric Capital Corp., 3.00%, 12/09/11	2,500	2,583
	Morgan Stanley, 3.25%, 12/01/11	2,500	2,592
	Wells Fargo & Co., 3.00%, 12/09/11	1,525	1,576
	Total Corporate Bonds and Notes (cost $6,519)		6,751
GOVERNMENT AND AGENCY OBLIGATIONS - 92.6%
GOVERNMENT SECURITIES - 26.6%
Sovereign - 2.2%
	Financing Corp., 0.00%, 04/05/19 (j)	5,000	3,291
	Israel Government AID Bond, 0.00%, 11/01/21 (j)	10,000	5,659
	Residual Funding - Interest Only Strip, 0.00%, 10/15/19 (j)	3,800	2,476
	Tennessee Valley Authority Generic Strip, 0.00%, 01/15/21 (j)	7,368	4,296
			15,722
Treasury Inflation Index Securities - 5.4%
	U.S. Treasury Inflation Indexed Note, 2.38%, 04/15/11 (r)	3,450	3,561
	U.S. Treasury Inflation Indexed Note, 2.50%, 07/15/16 (r)	2,446	2,673
	U.S. Treasury Inflation Indexed Note, 1.38%, 07/15/18 (e) (r)	25,122	25,139
	U.S. Treasury Inflation Indexed Note, 2.00%, 01/15/26 (r)	5,655	5,626
	U.S. Treasury Inflation Indexed Note, 2.38%, 01/15/27 (r)	2,160	2,251
			39,250
U.S. Treasury Securities - 19.0%
	U.S. Treasury Bond, 8.88%, 08/15/17 (e)	8,000	10,923
	U.S. Treasury Bond, 0.00%, 08/15/21 (j)	25,000	15,144
	U.S. Treasury Bond, 5.25%, 11/15/28	20,000	21,775
	U.S. Treasury Bond, 5.25%, 02/15/29	10,000	10,881
	U.S. Treasury Bond, 5.38%, 02/15/31 (e)	13,000	14,381
	U.S. Treasury Note, 4.63%, 02/15/17	22,000	23,971
	U.S. Treasury Note, 4.75%, 08/15/17	15,000	16,407
	U.S. Treasury Note, 3.38%, 11/15/19	25,000	24,123
			137,605
U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES - 66.0%
Federal Farm Credit Bank - 1.0%
	Federal Farm Credit Bank, 5.75%, 12/07/28	7,000	7,555
Federal Home Loan Bank - 2.2%
	Federal Home Loan Bank, 4.88%, 05/17/17 (e)	10,000	10,811
	Federal Home Loan Bank, 5.25%, 12/11/20	4,500	4,814
			15,625
Federal Home Loan Mortgage Corp. - 23.9%
	Federal Home Loan Mortgage Corp., 7.00%, 07/01/11	1	1
	Federal Home Loan Mortgage Corp., 6.50%, 08/01/13	7	7
	Federal Home Loan Mortgage Corp., 8.00%, 07/01/20	21	23
	Federal Home Loan Mortgage Corp., 6.00%, 11/01/28	264	288
	Federal Home Loan Mortgage Corp., 7.00%, 04/01/29	67	76
	Federal Home Loan Mortgage Corp., 7.00%, 10/01/31	2	3
	Federal Home Loan Mortgage Corp., 7.00%, 11/01/31	4	4
	Federal Home Loan Mortgage Corp., 7.00%, 02/01/32	65	73
	Federal Home Loan Mortgage Corp., 7.00%, 03/01/32	66	74
	Federal Home Loan Mortgage Corp., 7.00%, 04/01/32	7	8
	Federal Home Loan Mortgage Corp., 7.00%, 04/01/32	48	54
	Federal Home Loan Mortgage Corp., 7.00%, 06/01/32	5	6
	Federal Home Loan Mortgage Corp., 7.00%, 06/01/32	3	4
	Federal Home Loan Mortgage Corp., 7.00%, 08/01/32	4	5
	Federal Home Loan Mortgage Corp., 5.00%, 08/01/33	1,163	1,209
	Federal Home Loan Mortgage Corp., 5.00%, 12/01/34	4,720	4,901
	Federal Home Loan Mortgage Corp., 5.20%, 12/01/35 (i)	6,003	6,309
	Federal Home Loan Mortgage Corp., 5.56%, 01/01/37 (i)	774	817
	Federal Home Loan Mortgage Corp. REMIC, 5.00%, 10/15/17	3,596	3,819
	Federal Home Loan Mortgage Corp. REMIC, 5.00%, 12/15/17	7,000	7,502
	Federal Home Loan Mortgage Corp. REMIC, 5.00%, 01/15/18	3,500	3,752
	Federal Home Loan Mortgage Corp. REMIC, 5.00%, 02/15/18	10,000	10,724
	Federal Home Loan Mortgage Corp. REMIC, 5.00%, 03/15/18	4,000	4,268
	Federal Home Loan Mortgage Corp. REMIC, 4.50%, 06/15/18	1,739	1,833
	Federal Home Loan Mortgage Corp. REMIC, 4.50%, 08/15/19	3,400	3,572
	Federal Home Loan Mortgage Corp. REMIC, 4.50%, 10/15/19	10,466	10,939
	Federal Home Loan Mortgage Corp. REMIC, 4.50%, 02/15/20	2,500	2,624
	Federal Home Loan Mortgage Corp. REMIC, 4.50%, 09/15/20	5,365	5,520
	Federal Home Loan Mortgage Corp. REMIC, 5.00%, 07/15/23	6,973	7,267
	Federal Home Loan Mortgage Corp. REMIC, 5.50%, 01/15/27	7,000	7,333
	Federal Home Loan Mortgage Corp. REMIC, Interest Only, 5.00%, 03/15/31	681	41
	Federal Home Loan Mortgage Corp. REMIC, 4.50%, 04/15/32	183	175
	Federal Home Loan Mortgage Corp. REMIC, 5.00%, 12/15/32	3,500	3,715
	Federal Home Loan Mortgage Corp. REMIC, 5.50%, 01/15/33	7,617	8,131
	Federal Home Loan Mortgage Corp. REMIC, 5.00%, 07/15/33	3,000	3,046
	Federal Home Loan Mortgage Corp. REMIC, 5.00%, 08/15/33	7,000	7,409
	Federal Home Loan Mortgage Corp. REMIC, 5.00%, 09/15/33	8,240	8,695
	Federal Home Loan Mortgage Corp. REMIC, 4.50%, 04/15/34	10,664	11,067
	Federal Home Loan Mortgage Corp. REMIC, 5.00%, 05/15/34	3,890	4,088
	Federal Home Loan Mortgage Corp. REMIC, 5.00%, 06/15/34	3,730	3,974
	Federal Home Loan Mortgage Corp. REMIC, 5.50%, 06/15/34	10,000	10,654
	Federal Home Loan Mortgage Corp. REMIC, 4.50%, 07/15/34	2,289	2,400
	Federal Home Loan Mortgage Corp. REMIC, 5.50%, 10/15/34	4,000	4,272
	Federal Home Loan Mortgage Corp. REMIC, 5.00%, 01/15/35	4,000	4,048
	Federal Home Loan Mortgage Corp. REMIC, 5.00%, 02/15/35	5,000	5,159
	Federal Home Loan Mortgage Corp. REMIC, 5.50%, 07/15/35	6,580	6,983
	Federal Home Loan Mortgage Corp. REMIC, 5.50%, 07/15/36	4,383	4,585
	Federal Home Loan Mortgage Corp. REMIC, 6.00%, 07/15/37	2,000	2,134
			173,591
Federal National Mortgage Association - 30.1%
	Federal National Mortgage Association, 12.50%, 09/20/15	-	-
	Federal National Mortgage Association, 12.00%, 01/01/16	26	30
	Federal National Mortgage Association, 12.00%, 01/15/16	-	-
	Federal National Mortgage Association, 12.50%, 01/15/16	5	5
	Federal National Mortgage Association, 5.00%, 02/01/19	513	546
	Federal National Mortgage Association, 11.50%, 09/01/19	-	-
	Federal National Mortgage Association, 0.00%, 10/09/19 (j)	10,000	5,851
	Federal National Mortgage Association, 10.50%, 08/01/20	4	5
	Federal National Mortgage Association, 0.00%, 11/15/20 (j)	9,000	5,328
	Federal National Mortgage Association, 4.00%, 02/01/25	19,908	20,229
	Federal National Mortgage Association, 6.50%, 03/01/26	3	4
	Federal National Mortgage Association, 7.00%, 05/01/26	8	8
	Federal National Mortgage Association, 7.00%, 12/01/28	4	4
	Federal National Mortgage Association, 7.00%, 12/01/28	4	5
	Federal National Mortgage Association, 7.00%, 03/01/29	6	7
	Federal National Mortgage Association, 8.00%, 07/01/29	1	1
	Federal National Mortgage Association, 8.00%, 11/01/29	18	20
	Federal National Mortgage Association, 8.00%, 12/01/29	16	19
	Federal National Mortgage Association, 7.00%, 01/01/30	24	27
	Federal National Mortgage Association, 8.00%, 01/01/30	25	29
	Federal National Mortgage Association, 8.00%, 02/01/30	5	6
	Federal National Mortgage Association, 8.00%, 05/01/30	1	1
	Federal National Mortgage Association, 8.00%, 09/01/30	-	-
	Federal National Mortgage Association, 8.00%, 10/01/30	20	24
	Federal National Mortgage Association, 8.00%, 01/01/31	61	70
	Federal National Mortgage Association, 8.00%, 01/01/31	3	4
	Federal National Mortgage Association, 6.00%, 02/01/31	176	192
	Federal National Mortgage Association, 7.50%, 02/01/31	37	42
	Federal National Mortgage Association, 8.00%, 02/01/31	11	12
	Federal National Mortgage Association, 8.00%, 02/01/31	14	16
	Federal National Mortgage Association, 8.00%, 03/01/31	3	4
	Federal National Mortgage Association, 8.00%, 03/01/31	4	4
	Federal National Mortgage Association, 8.00%, 03/01/31	9	10
	Federal National Mortgage Association, 6.00%, 01/01/33	651	707
	Federal National Mortgage Association, 5.50%, 02/01/35	8,629	9,158
	Federal National Mortgage Association, 6.00%, 06/01/35	149	159
	Federal National Mortgage Association, 5.00%, 09/01/35	137	142
	Federal National Mortgage Association, 5.00%, 09/01/35	155	161
	Federal National Mortgage Association, 6.00%, 10/01/35	36	39
	Federal National Mortgage Association, 6.00%, 10/01/35	543	581
	Federal National Mortgage Association, 6.00%, 10/01/35	260	278
	Federal National Mortgage Association, 6.00%, 11/01/35	57	61
	Federal National Mortgage Association, 6.00%, 11/01/35	458	490
	Federal National Mortgage Association, 6.00%, 11/01/35	775	829
	Federal National Mortgage Association, 5.00%, 12/01/35	425	440
	Federal National Mortgage Association, 5.50%, 01/01/36	2,975	3,151
	Federal National Mortgage Association, 6.00%, 02/01/36	334	357
	Federal National Mortgage Association, 6.50%, 02/01/36	857	931
	Federal National Mortgage Association, 6.50%, 02/01/36	328	358
	Federal National Mortgage Association, 6.50%, 02/01/36	418	454
	Federal National Mortgage Association, 5.00%, 03/01/36	10,377	10,734
	Federal National Mortgage Association, 6.00%, 03/01/36	309	330
	Federal National Mortgage Association, 6.00%, 03/01/36	101	107
	Federal National Mortgage Association, 6.00%, 03/01/36	451	482
	Federal National Mortgage Association, 6.50%, 03/01/36	1,983	2,155
	Federal National Mortgage Association, 5.50%, 04/01/36	192	203
	Federal National Mortgage Association, 5.50%, 04/01/36	22	24
	Federal National Mortgage Association, 5.50%, 04/01/36	123	129
	Federal National Mortgage Association, 5.50%, 04/01/36	196	207
	Federal National Mortgage Association, 5.50%, 04/01/36	116	123
	Federal National Mortgage Association, 5.50%, 04/01/36	177	186
	Federal National Mortgage Association, 5.50%, 04/01/36	428	452
	Federal National Mortgage Association, 5.50%, 04/01/36	45	48
	Federal National Mortgage Association, 5.50%, 04/01/36	524	553
	Federal National Mortgage Association, 5.50%, 04/01/36	22	23
	Federal National Mortgage Association, 6.00%, 04/01/36	70	74
	Federal National Mortgage Association, 6.00%, 04/01/36	607	648
	Federal National Mortgage Association, 6.00%, 04/01/36	273	292
	Federal National Mortgage Association, 5.50%, 05/01/36	690	729
	Federal National Mortgage Association, 5.50%, 05/01/36	25	26
	Federal National Mortgage Association, 5.50%, 05/01/36	434	458
	Federal National Mortgage Association, 5.50%, 05/01/36	19	20
	Federal National Mortgage Association, 5.50%, 05/01/36	188	199
	Federal National Mortgage Association, 5.50%, 05/01/36	104	109
	Federal National Mortgage Association, 5.50%, 05/01/36	434	458
	Federal National Mortgage Association, 5.50%, 05/01/36	63	67
	Federal National Mortgage Association, 5.50%, 05/01/36	230	243
	Federal National Mortgage Association, 5.50%, 05/01/36	299	316
	Federal National Mortgage Association, 5.50%, 05/01/36	239	253
	Federal National Mortgage Association, 5.50%, 05/01/36	148	156
	Federal National Mortgage Association, 5.50%, 05/01/36	160	169
	Federal National Mortgage Association, 5.50%, 05/01/36	148	156
	Federal National Mortgage Association, 5.50%, 05/01/36	269	284
	Federal National Mortgage Association, 5.50%, 05/01/36	55	59
	Federal National Mortgage Association, 6.00%, 05/01/36	105	112
	Federal National Mortgage Association, 5.50%, 06/01/36	51	54
	Federal National Mortgage Association, 5.50%, 06/01/36	18	19
	Federal National Mortgage Association, 5.50%, 06/01/36	166	175
	Federal National Mortgage Association, 5.50%, 06/01/36	474	500
	Federal National Mortgage Association, 5.50%, 06/01/36	587	620
	Federal National Mortgage Association, 5.50%, 06/01/36	17	17
	Federal National Mortgage Association, 5.50%, 06/01/36	335	354
	Federal National Mortgage Association, 5.50%, 06/01/36	116	122
	Federal National Mortgage Association, 5.50%, 06/01/36	76	81
	Federal National Mortgage Association, 5.50%, 06/01/36	164	173
	Federal National Mortgage Association, 6.00%, 06/01/36	238	254
	Federal National Mortgage Association, 6.00%, 06/01/36	336	358
	Federal National Mortgage Association, 6.00%, 06/01/36	199	213
	Federal National Mortgage Association, 6.00%, 06/01/36	501	535
	Federal National Mortgage Association, 6.00%, 06/01/36	185	197
	Federal National Mortgage Association, 6.00%, 06/01/36	193	206
	Federal National Mortgage Association, 5.50%, 07/01/36	456	481
	Federal National Mortgage Association, 5.50%, 07/01/36	84	89
	Federal National Mortgage Association, 5.50%, 07/01/36	88	93
	Federal National Mortgage Association, 5.50%, 07/01/36	438	462
	Federal National Mortgage Association, 5.50%, 07/01/36	278	294
	Federal National Mortgage Association, 6.00%, 07/01/36	22,173	23,576
	Federal National Mortgage Association, 6.00%, 07/01/36	279	298
	Federal National Mortgage Association, 6.00%, 07/01/36	205	218
	Federal National Mortgage Association, 6.00%, 07/01/36	2,930	3,128
	Federal National Mortgage Association, 6.00%, 07/01/36	267	285
	Federal National Mortgage Association, 5.50%, 08/01/36	334	352
	Federal National Mortgage Association, 5.50%, 08/01/36	10	11
	Federal National Mortgage Association, 6.00%, 08/01/36	307	327
	Federal National Mortgage Association, 6.00%, 08/01/36	143	152
	Federal National Mortgage Association, 6.00%, 08/01/36	189	202
	Federal National Mortgage Association, 6.00%, 08/01/36	231	246
	Federal National Mortgage Association, 6.00%, 09/01/36	245	261
	Federal National Mortgage Association, 6.00%, 09/01/36	124	132
	Federal National Mortgage Association, 5.50%, 10/01/36	2,285	2,412
	Federal National Mortgage Association, 6.00%, 12/01/36	304	324
	Federal National Mortgage Association REMIC, 5.00%, 05/25/18	9,880	10,572
	Federal National Mortgage Association REMIC, 4.00%, 01/25/19	3,000	3,137
	Federal National Mortgage Association REMIC, 5.00%, 12/25/22	11,111	11,704
	Federal National Mortgage Association REMIC, 4.50%, 04/25/23	6,712	6,926
	Federal National Mortgage Association REMIC, 4.50%, 07/25/23	11,114	11,645
	Federal National Mortgage Association REMIC, 5.00%, 04/25/32	7,500	7,948
	Federal National Mortgage Association REMIC, 4.50%, 12/25/32	5,000	5,248
	Federal National Mortgage Association REMIC, 3.50%, 07/25/33	2,758	2,780
	Federal National Mortgage Association REMIC, 5.00%, 05/25/34	4,250	4,515
	Federal National Mortgage Association REMIC, 5.50%, 12/25/34	2,655	2,855
	Federal National Mortgage Association REMIC, 5.50%, 02/25/35	8,790	9,356
	Federal National Mortgage Association REMIC, 5.50%, 07/25/35	3,721	3,938
	Federal National Mortgage Association REMIC, 5.50%, 11/25/35	2,025	2,107
	Federal National Mortgage Association REMIC, 7.50%, 12/25/41	10,926	12,455
	Federal National Mortgage Association REMIC, 4.68%, 06/25/43	8,420	8,312
	Federal National Mortgage Association REMIC, Bond Strip Principal, 0.00%, 05/01/23 (j)	7,194	6,069
			218,171
Government National Mortgage Association - 8.8%
	Government National Mortgage Association, 13.50%, 07/15/10	2	2
	Government National Mortgage Association, 6.00%, 04/15/29	3	4
	Government National Mortgage Association, 6.00%, 05/15/32	2	2
	Government National Mortgage Association, 6.00%, 07/15/32	1	1
	Government National Mortgage Association, 6.00%, 01/15/34	20	21
	Government National Mortgage Association, 6.00%, 01/15/34	19	20
	Government National Mortgage Association, 6.00%, 06/15/34	5	5
	Government National Mortgage Association, 6.00%, 09/15/34	35	38
	Government National Mortgage Association, 6.00%, 09/15/34	93	100
	Government National Mortgage Association, 6.00%, 09/15/34	592	639
	Government National Mortgage Association, 6.00%, 04/15/35	455	489
	Government National Mortgage Association, 6.00%, 04/15/35	78	84
	Government National Mortgage Association, 6.00%, 05/15/35	14	15
	Government National Mortgage Association, 6.00%, 05/15/35	465	500
	Government National Mortgage Association, 6.00%, 06/15/35	18	20
	Government National Mortgage Association, 6.00%, 07/15/35	569	618
	Government National Mortgage Association, 6.00%, 07/15/35	477	512
	Government National Mortgage Association, 6.00%, 01/15/36	1,255	1,346
	Government National Mortgage Association REMIC, 6.50%, 06/20/28	1,884	1,998
	Government National Mortgage Association REMIC, 6.50%, 06/16/31	3,325	3,554
	Government National Mortgage Association REMIC, 5.00%, 09/20/32	7,000	7,463
	Government National Mortgage Association REMIC, 5.50%, 03/20/33	3,066	3,222
	Government National Mortgage Association REMIC, 5.50%, 09/20/33	5,564	5,986
	Government National Mortgage Association REMIC, 6.00%, 12/16/33	2,907	2,986
	Government National Mortgage Association REMIC, Interest Only, 6.50%, 11/20/34	705	42
	Government National Mortgage Association REMIC, 5.50%, 12/20/34	10,000	10,581
	Government National Mortgage Association REMIC, 5.00%, 11/20/36	3,867	4,110
	Government National Mortgage Association REMIC, 5.50%, 01/20/37	4,816	5,168
	Government National Mortgage Association REMIC, 5.50%, 02/16/38	3,362	3,613
	Government National Mortgage Association REMIC, Interest Only, 6.14%, 05/16/38 (i)	9,467	1,180
	Government National Mortgage Association REMIC, 4.50%, 06/20/39	10,000	9,685
			64,004
	Total Government and Agency Obligations (cost $643,894)		671,523
SHORT TERM INVESTMENTS - 10.1%
Mutual Funds - 3.0%
	JNL Money Market Fund, 0.03% (a) (h)	21,644	21,644
Securities Lending Collateral - 7.1%
	Securities Lending Cash Collateral Fund LLC, 0.24% (a) (h)	19,587	19,587
	Securities Lending Liquidating Fund LLC, 0.38% (a) (h)	31,751	31,751
			51,338
	Total Short Term Investments (cost $72,982)		72,982
Total Investments - 106.7% (cost $752,571)			773,961
Other Assets and Liabilities, Net -  (6.7%)			(48,800)
Total Net Assets - 100%			$      725,161
JNL/Lazard Emerging Markets Fund
COMMON STOCKS - 91.8%
CONSUMER DISCRETIONARY - 4.3%
	Delek Automotive Systems Ltd.	156	$          1,937
	Desarrolladora Homex SAB de CV - ADR (c) (e)	195	5,500
	Grupo Televisa SA - ADR	556	11,689
	Truworths International Ltd.	990	7,110
	Woongjin Coway Co. Ltd.	360	11,144
			37,380
CONSUMER STAPLES - 13.4%
	British American Tobacco Plc	367	4,959
	Eastern Tobacco	197	4,468
	Fomento Economico Mexicano SAB de CV - ADR	243	11,531
	Hite Brewery Co. Ltd.	44	5,588
	Indofood Sukses Makmur Tbk	8,216	3,409
	Kimberly-Clark de Mexico SAB de CV	998	5,641
	KT&G Corp.	273	15,101
	Magnit OAO - GDR (c) (f)	390	7,223
	Massmart Holdings Ltd. (e)	493	7,351
	Natura Cosmeticos SA	468	9,551
	Oriflame Cosmetics SA (e)	100	6,201
	Shoprite Holdings Ltd.	598	5,967
	Souza Cruz SA	403	14,077
	Tiger Brands Ltd.	537	13,523
			114,590
ENERGY - 4.9%
	Banpu Public Co. Ltd.	447	8,543
	LUKOIL OAO - ADR	352	19,973
	Oil & Gas Development Co. Ltd.	1,026	1,586
	Pakistan Petroleum Ltd.	2,332	5,425
	PT Tambang Batubara Bukit Asam Tbk	3,122	5,970
			41,497
FINANCIALS - 24.1%
	Akbank T.A.S.	2,420	15,629
	Banco do Brasil SA	1,635	27,341
	Bank Mandiri Persero Tbk PT	20,401	11,995
	Bank of India	882	6,686
	Commercial International Bank	723	8,537
	Kasikornbank Public Co. Ltd.	2,225	7,087
	Korea Life Insurance Co. Ltd. (c)	815	6,309
	Nedbank Group Ltd. (e)	1,040	19,996
	Punjab National Bank Ltd.	836	18,855
	Sanlam Ltd.	6,033	20,600
	Shinhan Financial Group Co. Ltd. (c)	556	21,825
	Standard Bank Group Ltd.	1,042	16,401
	Turkiye Is Bankasi (c)	2,467	7,738
	Turkiye Is Bankasi SA	5,350	17,414
			206,413
INDUSTRIALS - 6.1%
	Cia de Concessoes Rodoviarias	399	8,732
	KOC Holding AS (c)	3,046	10,435
	Murray & Roberts Holdings Ltd.	1,874	11,135
	Orascom Construction Industries	296	14,189
	United Tractors Tbk PT	3,784	7,632
			52,123
INFORMATION TECHNOLOGY - 18.0%
	Advanced Semiconductor Engineering Inc.	6,758	6,171
	Cielo SA	2,754	26,158
	HON HAI Precision Industry Co. Ltd. - GDR	1,574	14,433
	HTC Corp.	766	8,950
	Infosys Technologies Ltd. - ADR (e)	100	5,867
	Netease.com - ADR (c)	320	11,343
	NHN Corp. (c)	94	15,012
	Redecard SA	1,542	28,526
	Samsung Electronics Co. Ltd.	24	17,225
	Taiwan Semiconductor Manufacturing Co. Ltd. - ADR	1,924	20,179
			153,864
MATERIALS - 11.3%
	Cia Siderurgica Nacional SA - ADR	169	6,732
	First Quantum Minerals Ltd. (e)	137	11,264
	Grupo Mexico SAB de CV (e)	2,959	7,955
	Israel Chemicals Ltd.	1,130	15,294
	Jindal Steel & Power Ltd.	487	7,632
	Kumba Iron Ore Ltd. (e)	292	14,164
	Pretoria Portland Cement Co. Ltd.	1,917	9,002
	Shougang Concord International Enterprises Co. Ltd.	25,778	5,445
	Uralkali - GDR (c) (e)	373	7,825
	Vale SA - ADR (e)	352	11,331
			96,644
TELECOMMUNICATION SERVICES - 8.8%
	America Movil SAB de CV - ADR	335	16,864
	Cellcom Israel Ltd.	75	2,556
	Egyptian Co. for Mobile Services	134	5,206
	Mobile Telesystems - ADR (e)	221	12,288
	Philippine Long Distance Telephone Co. - ADR (e)	297	15,840
	PT Telekomunikasi Indonesia - ADR (e)	380	13,602
	Turkcell Iletisim Hizmet AS	1,503	9,159
			75,515
UTILITIES - 0.9%
	Companhia Energetica de Minas Gerais - ADR (e)	464	7,723
	Total Common Stocks (cost $645,614)		785,749
PREFERRED STOCKS - 3.8%
MATERIALS - 3.1%
	Fertilizantes Fosfatados SA	193	1,823
	Usinas Siderurgicas de Minas Gerais SA - Class A	714	24,570
			26,393
UTILITIES - 0.7%
	AES Tiete SA	64	696
	Eletropaulo Metropolitana Eletricidade de Sao Paulo SA	235	5,140
			5,836
	Total Preferred Stocks (cost $24,225)		32,229
NON-U.S. GOVERNMENT AGENCY ASSET-BACKED SECURITIES - 0.0%
	Sigma Finance, Inc. (d) (f) (u)	$                782	33
	Total Non-U.S. Government Agency Asset-Backed Securities (cost $782)		33
SHORT TERM INVESTMENTS - 8.2%
Mutual Funds - 3.6%
	JNL Money Market Fund, 0.03% (a) (h)	30,483	30,483
Securities Lending Collateral - 4.6%
	Securities Lending Cash Collateral Fund LLC, 0.24% (a) (h)	31,438	31,438
	Securities Lending Liquidating Fund LLC, 0.38% (a) (h)	8,038	8,038
			39,476
	Total Short Term Investments (cost $69,959)		69,959
Total Investments - 103.8% (cost $740,580)			887,970
Other Assets and Liabilities, Net -  (3.8%)			(32,478)
Total Net Assets - 100%			$      855,492
JNL/Lazard Mid Cap Equity Fund
COMMON STOCKS - 96.6%
CONSUMER DISCRETIONARY - 19.8%
	American Eagle Outfitters Inc.	124	$          2,293
	Apollo Group Inc. - Class A (c)	15	925
	AutoZone Inc. (c)	16	2,769
	Burger King Holdings Inc.	190	4,031
	Cablevision Systems Corp. - Class A	54	1,299
	Family Dollar Stores Inc.	135	4,935
	Genuine Parts Co.	83	3,486
	J.C. Penney Co. Inc.	111	3,564
	Mattel Inc.	242	5,512
	Newell Rubbermaid Inc.	89	1,348
	Stanley Black & Decker Inc.	53	3,054
	Viacom Inc. - Class B (c)	107	3,689
			36,905
CONSUMER STAPLES - 6.9%
	Avon Products Inc.	52	1,744
	Campbell Soup Co.	42	1,491
	McCormick & Co. Inc.	88	3,391
	Molson Coors Brewing Co.	72	3,020
	Ralcorp Holdings Inc. (c)	48	3,281
			12,927
ENERGY - 7.1%
	Arch Coal Inc.	44	1,008
	Holly Corp. (e)	114	3,171
	Massey Energy Co.	39	2,034
	Tidewater Inc.	56	2,633
	Valero Energy Corp.	61	1,198
	Williams Cos. Inc.	139	3,216
			13,260
FINANCIALS - 16.6%
	Ameriprise Financial Inc.	114	5,167
	City National Corp. (e)	74	3,999
	Fifth Third Bancorp	183	2,482
	KeyCorp	169	1,307
	Northern Trust Corp.	50	2,757
	NYSE Euronext	45	1,338
	PartnerRe Ltd.	23	1,857
	Public Storage	26	2,383
	RenaissanceRe Holdings Ltd.	49	2,759
	St. Joe Co. (c) (e)	78	2,530
	Tanger Factory Outlet Centers Inc.	27	1,157
	TD Ameritrade Holding Corp. (c)	50	961
	UDR Inc.	126	2,221
			30,918
HEALTH CARE - 10.3%
	CareFusion Corp. (c)	105	2,762
	Hospira Inc. (c)	45	2,544
	Life Technologies Corp. (c)	35	1,818
	Omnicare Inc.	53	1,508
	Talecris Biotherapeutics Holdings Corp. (c)	160	3,181
	Teleflex Inc.	51	3,287
	Warner Chilcott Plc (c)	96	2,440
	Zimmer Holdings Inc. (c)	28	1,681
			19,221
INDUSTRIALS - 8.9%
	Corrections Corp. of America (c)	131	2,602
	Dover Corp.	106	4,960
	Foster Wheeler AG (c)	52	1,403
	Parker Hannifin Corp.	54	3,483
	Republic Services Inc. - Class A	98	2,829
	Rockwell Collins Inc.	21	1,314
			16,591
INFORMATION TECHNOLOGY - 13.9%
	Analog Devices Inc.	120	3,450
	BMC Software Inc. (c)	61	2,318
	Fidelity National Information Services Inc.	110	2,574
	Ingram Micro Inc. - Class A (c)	219	3,842
	Intuit Inc. (c)	85	2,926
	Lexmark International Inc. (c)	68	2,435
	NetApp Inc. (c)	42	1,358
	NeuStar Inc. - Class A (c)	74	1,872
	Symantec Corp. (c)	201	3,396
	VeriSign Inc. (c)	63	1,649
			25,820
MATERIALS - 8.6%
	Air Products & Chemicals Inc.	20	1,449
	Ball Corp.	119	6,331
	Cliffs Natural Resources Inc.	19	1,327
	Compass Minerals International Inc. (e)	38	3,081
	Nucor Corp.	49	2,201
	Packaging Corp. of America	68	1,676
			16,065
UTILITIES - 4.5%
	Allegheny Energy Inc.	72	1,648
	American Electric Power Co. Inc.	114	3,907
	Energen Corp.	59	2,745
			8,300
	Total Common Stocks (cost $154,389)		180,007
NON-U.S. GOVERNMENT AGENCY ASSET-BACKED SECURITIES - 0.0%
	Sigma Finance, Inc. (d) (f) (u)	$                525	22
	Total Non-U.S. Government Agency Asset-Backed Securities (cost $525)		22
SHORT TERM INVESTMENTS - 6.8%
Mutual Funds - 3.5%
	JNL Money Market Fund, 0.03% (a) (h)	6,583	6,583
Securities Lending Collateral - 3.3%
	Securities Lending Cash Collateral Fund LLC, 0.24% (a) (h)	1,795	1,795
	Securities Lending Liquidating Fund LLC, 0.38% (a) (h)	4,306	4,306
			6,101
	Total Short Term Investments (cost $12,684)		12,684
Total Investments - 103.4% (cost $167,598)			192,713
Other Assets and Liabilities, Net -  (3.4%)			(6,367)
Total Net Assets - 100%			$      186,346
JNL/M&G Global Basics Fund
COMMON STOCKS - 95.0%
CONSUMER DISCRETIONARY - 8.6%
	Compagnie des Alpes (e)	32	$          1,090
	Compagnie Financiere Richemont SA	11	411
	Hongkong & Shanghai Hotels (e) (u)	2,008	3,104
	Starbucks Corp. (c)	132	3,201
	Yum! Brands Inc.	82	3,155
			10,961
CONSUMER STAPLES - 22.5%
	Agrana Beteiligungs AG	19	1,826
	Baron de Ley SA (c)	15	702
	Colgate-Palmolive Co.	47	4,041
	Constellation Brands Inc. - Class A (c)	211	3,466
	Corn Products International Inc.	98	3,390
	Elizabeth Arden Inc. (c)	55	997
	Kerry Group Plc	108	3,342
	Marico Ltd.	52	125
	Petra Foods Ltd.	10	9
	Pilgrim's Pride Corp. (c)	142	1,509
	PZ Cussons Plc	473	1,953
	Unilever Plc	168	4,936
	Wimm-Bill-Dann Foods OJSC - ADR (c) (e)	109	2,442
			28,738
ENERGY - 6.4%
	Alliance Resource Partners LP	7	285
	Aquila Resources Ltd. (c) (e)	216	2,085
	Chevron Corp.	8	573
	Tap Oil Ltd. (c)	101	95
	Tullow Oil Plc	269	5,108
			8,146
FINANCIALS - 1.8%
	AMMB Holdings Bhd	1,497	2,293
HEALTH CARE - 4.3%
	Ansell Ltd.	375	4,180
	Dentsply International Inc.	29	1,000
	Genus Plc	27	281
			5,461
INDUSTRIALS - 16.5%
	Acuity Brands Inc.	47	1,971
	Aggreko Plc	39	712
	DP World Ltd.	1,512	779
	European Aeronautic Defence & Space Co. NV	100	2,017
	Fraser and Neave Ltd.	1,638	5,620
	G4S Plc	200	795
	Noble Group Ltd. (e)	1,779	3,891
	QinetiQ Group Plc	785	1,596
	United Technologies Corp.	29	2,158
	Wienerberger AG (c)	84	1,628
			21,167
MATERIALS - 34.9%
	Aber Diamond Corp. (c)	63	617
	AMCOL International Corp.	55	1,488
	Arkema SA	64	2,355
	Eramet (e)	15	5,126
	Iluka Resources Ltd. (c) (e)	683	2,745
	Imerys SA	74	4,553
	Johnson Matthey Plc	127	3,357
	K+S AG (e)	34	2,066
	Lonmin Plc (c)	173	5,352
	Minerals Technologies Inc.	3	155
	Panoramic Resources Ltd. (e)	316	696
	Resolute Mining Ltd. (c)	498	452
	Schnitzer Steel Industries Inc. - Class A	19	982
	Scotts Miracle-Gro Co.	66	3,041
	Sherritt International Corp.	424	3,366
	Sims Metal Management Ltd. (e)	251	4,991
	St. Barbara Ltd. (c)	1,157	271
	Symrise AG	122	2,916
	White Energy Co. Ltd. (c)	34	80
			44,609
	Total Common Stocks (cost $109,607)		121,375
PREFERRED STOCKS - 0.1%
INDUSTRIALS - 0.1%
	Villeroy & Boch AG	26	177
	Total Preferred Stocks (cost $189)		177
SHORT TERM INVESTMENTS - 11.9%
Mutual Funds - 5.2%
	JNL Money Market Fund, 0.03% (a) (h)	6,743	6,743
Securities Lending Collateral - 6.7%
	Securities Lending Cash Collateral Fund LLC, 0.24% (a) (h)	8,536	8,536
	Total Short Term Investments (cost $15,279)		15,279
Total Investments - 107.0% (cost $125,075)			136,831
Other Assets and Liabilities, Net -  (7.0%)			(8,969)
Total Net Assets - 100%			$      127,862
JNL/M&G Global Leaders Fund
COMMON STOCKS - 94.8%
CONSUMER DISCRETIONARY - 6.8%
	H&R Block Inc.	17	$             303
	Home Depot Inc.	12	378
	Macy's Inc.	11	235
	Time Warner Cable Inc.	5	267
	Whirlpool Corp.	2	209
			1,392
CONSUMER STAPLES - 9.7%
	Carrefour SA	7	315
	Heineken Holding NV	9	413
	Kerry Group Plc	14	428
	Kobayashi Pharmaceutical Co. Ltd.	6	226
	Lawson Inc.	8	354
	Metro AG	5	278
			2,014
ENERGY - 11.6%
	Anadarko Petroleum Corp.	5	357
	BP Plc	38	356
	Forest Oil Corp. (c)	10	256
	Hess Corp.	5	313
	Marathon Oil Corp.	10	304
	Mariner Energy Inc. (c)	13	195
	Noble Corp. (c)	6	242
	TransCanada Corp.	10	370
			2,393
FINANCIALS - 14.9%
	China Citic Bank	268	201
	Credit Suisse Group AG	6	323
	GAM Holding Ltd. (c)	18	215
	HSBC Holdings Plc	39	393
	ING Groep NV (c)	37	367
	JPMorgan Chase & Co.	11	506
	Krung Thai Bank Public Company Ltd.	51	19
	State Bank of India Ltd. - GDR	2	215
	Unum Group	14	352
	Wells Fargo & Co.	16	489
			3,080
HEALTH CARE - 9.1%
	Astellas Pharma Inc. (e)	11	387
	AstraZeneca Plc	8	338
	Daiichi Sankyo Co. Ltd. (e)	13	243
	Merck & Co. Inc.	12	450
	Pfizer Inc.	27	470
			1,888
INDUSTRIALS - 14.6%
	A P Moller - Maersk A/S Class B	-	160
	AGCO Corp. (c) (e)	8	294
	Hutchison Whampoa Ltd.	49	358
	Kennametal Inc.	4	110
	Nexans SA (e)	3	245
	Norfolk Southern Corp.	6	354
	Shanghai Industrial Holdings Ltd.	42	193
	Siemens AG	3	316
	Smiths Group Plc	17	300
	Spirit Aerosystems Holdings Inc. (c)	11	248
	Tianjin Development Holdings	198	118
	Timken Co.	11	327
			3,023
INFORMATION TECHNOLOGY - 16.7%
	eBay Inc. (c)	18	474
	Google Inc. - Class A (c)	-	280
	Ingram Micro Inc. - Class A (c)	17	298
	Konica Minolta Holdings Inc. (e)	28	327
	Marvell Technology Group Ltd. (c)	14	279
	Microsoft Corp.	20	582
	Parametric Technology Corp. (c)	17	298
	SAP AG	6	270
	Yahoo! Inc. (c)	20	324
	Yokogawa Electric Corp. (c) (e)	38	327
			3,459
MATERIALS - 5.5%
	Anglo American Plc (c)	8	334
	Boral Ltd.	31	160
	Koninklijke DSM NV (e)	8	374
	ThyssenKrupp AG	8	262
			1,130
TELECOMMUNICATION SERVICES - 3.8%
	SK Telecom Co. Ltd. - ADR	22	372
	Vodafone Group Plc	181	417
			789
UTILITIES - 2.1%
	E.ON AG	9	342
	EDP - Energias do Brasil SA	5	101
			443
	Total Common Stocks (cost $16,908)		19,611
PREFERRED STOCKS - 2.4%
INFORMATION TECHNOLOGY - 2.4%
	Samsung Electronics Co. Ltd.	1	496
	Total Preferred Stocks (cost $347)		496
SHORT TERM INVESTMENTS - 10.0%
Mutual Funds - 2.5%
	JNL Money Market Fund, 0.03% (a) (h)	523	523
Securities Lending Collateral - 7.5%
	Securities Lending Cash Collateral Fund LLC, 0.24% (a) (h)	1,554	1,554
	Total Short Term Investments (cost $2,077)		2,077
Total Investments - 107.2% (cost $19,332)			22,184
Other Assets and Liabilities, Net -  (7.2%)			(1,494)
Total Net Assets - 100%			$        20,690
JNL/Mellon Capital Management 10 X 10 Fund (b)
INVESTMENT FUNDS - 100.0%
	JNL/Mellon Capital Management Bond Index Fund (2.1%) (a)	1,747	$        20,211
	JNL/Mellon Capital Management International Index Fund (2.4%) (a)	1,652	19,754
	JNL/Mellon Capital Management JNL 5 Fund (3.0%) (a)	13,084	102,319
	JNL/Mellon Capital Management S&P 400 MidCap Index Fund (4.0%) (a)	1,761	21,410
	JNL/Mellon Capital Management S&P 500 Index Fund (1.9%) (a)	2,094	20,668
	JNL/Mellon Capital Management Small Cap Index Fund (3.8%) (a)	1,953	21,328
	Total Investment Funds (cost $200,278)		205,690
Total Investments - 100.0% (cost $200,278)			205,690
Other Assets and Liabilities, Net - 0.0%			71
Total Net Assets - 100%			$      205,761
JNL/Mellon Capital Management Index 5 Fund (b)
INVESTMENT FUNDS - 100.0%
	JNL/Mellon Capital Management Bond Index Fund (4.9%) (a)	4,004	$        46,331
	JNL/Mellon Capital Management International Index Fund (5.5%) (a)	3,786	45,284
	JNL/Mellon Capital Management S&P 400 MidCap Index Fund (9.1%) (a)	4,036	49,079
	JNL/Mellon Capital Management S&P 500 Index Fund (4.4%) (a)	4,800	47,378
	JNL/Mellon Capital Management Small Cap Index Fund (8.6%) (a)	4,477	48,890
	Total Investment Funds (cost $208,655)		236,962
Total Investments - 100.0% (cost $208,655)			236,962
Other Assets and Liabilities, Net - 0.0%			75
Total Net Assets - 100%			$      237,037
JNL/Mellon Capital Management European 30 Fund
COMMON STOCKS - 99.9%
CONSUMER DISCRETIONARY - 6.3%
	Next Plc	15	$             507
	Vivendi SA	17	462
			969
CONSUMER STAPLES - 3.4%
	Colruyt SA	2	529
ENERGY - 9.5%
	BP Plc	54	507
	Royal Dutch Shell Plc - Class B	18	485
	Total SA	8	463
			1,455
FINANCIALS - 17.5%
	CNP Assurances SA	5	505
	Hannover Rueckversicherung AG (c)	11	547
	Legal & General Group Plc	399	533
	Topdanmark A/S (c)	4	495
	Zurich Financial Services AG	2	608
			2,688
HEALTH CARE - 27.0%
	AstraZeneca Plc	11	489
	Celesio AG	20	653
	GlaxoSmithKline Plc	24	464
	H Lundbeck A/S	28	536
	Novartis AG	10	513
	Roche Holding AG	3	496
	Sanofi-Aventis SA	7	490
	Smith & Nephew Plc	50	501
			4,142
INDUSTRIALS - 7.3%
	Balfour Beatty Plc	124	553
	Societe BIC SA	7	574
			1,127
MATERIALS - 3.6%
	Svenska Cellulosa AB (c)	39	549
TELECOMMUNICATION SERVICES - 12.6%
	France Telecom SA	21	493
	Koninklijke KPN NV	30	480
	Mobistar SA	7	461
	Swisscom AG	1	491
			1,925
UTILITIES - 12.7%
	ENEL SpA	89	500
	Gas Natural SDG SA	24	443
	RWE AG	5	469
	Snam Rete Gas SpA	104	529
			1,941
	Total Common Stocks (cost $15,427)		15,325
SHORT TERM INVESTMENTS - 0.8%
Mutual Funds - 0.8%
	JNL Money Market Fund, 0.03% (a) (h)	128	128
	Total Short Term Investments (cost $128)		128
Total Investments - 100.7% (cost $15,555)			15,453
Other Assets and Liabilities, Net -  (0.7%)			(115)
Total Net Assets - 100%			$        15,338
JNL/Mellon Capital Management Pacific Rim 30 Fund
COMMON STOCKS - 97.7%
CONSUMER DISCRETIONARY - 7.0%
	Esprit Holdings Ltd.	126	$             991
	Tabcorp Holdings Ltd.	134	850
			1,841
CONSUMER STAPLES - 15.8%
	FamilyMart Co. Ltd. (e)	28	904
	Foster's Group Ltd. (e)	170	823
	Metcash Ltd.	209	793
	Nisshin Seifun Group Inc. (e)	62	800
	Woolworths Ltd.	33	856
			4,176
FINANCIALS - 12.8%
	Bank of Yokohama Ltd.	185	906
	China Bank Ltd.	141	843
	Hang Seng Bank Ltd. (e)	56	786
	Stockland (e)	236	864
			3,399
HEALTH CARE - 10.0%
	Alfresa Holdings Corp.	21	910
	Chugai Pharmaceutical Co. Ltd. (e)	45	844
	Suzuken Co. Ltd. (e)	26	899
			2,653
INDUSTRIALS - 10.2%
	East Japan Railway Co.	13	926
	Hong Kong Aircraft Engineering Co. Ltd.	65	815
	Sumitomo Corp. (e)	83	952
			2,693
MATERIALS - 3.2%
	Sims Metal Management Ltd. (e)	42	834
TELECOMMUNICATION SERVICES - 18.7%
	KDDI Corp.	-	818
	Nippon Telegraph & Telephone Corp.	21	898
	NTT DoCoMo Inc. (e)	1	918
	Singapore Telecommunications Ltd.	379	859
	Telecom Corp. of New Zealand Ltd.	458	707
	Telstra Corp. Ltd.	272	747
			4,947
UTILITIES - 20.0%
	Cheung Kong Infrastructure Holdings Ltd.	219	848
	CLP Holdings Ltd. (e)	124	883
	Hokuriku Electric Power Co.	39	849
	Hongkong Electric Holdings Ltd.	154	910
	Tokyo Electric Power Co. Inc. (e)	33	888
	Tokyo Gas Co. Ltd.	210	925
			5,303
	Total Common Stocks (cost $25,585)		25,846
SHORT TERM INVESTMENTS - 24.1%
Mutual Funds - 1.1%
	JNL Money Market Fund, 0.03% (a) (h)	299	299
Securities Lending Collateral - 23.0%
	Securities Lending Cash Collateral Fund LLC, 0.24% (a) (h)	6,068	6,068
	Total Short Term Investments (cost $6,367)		6,367
Total Investments - 121.8% (cost $31,952)			32,213
Other Assets and Liabilities, Net -  (21.8%)			(5,755)
Total Net Assets - 100%			$        26,458
JNL/Mellon Capital Management S&P 500 Index Fund
COMMON STOCKS - 97.6%
CONSUMER DISCRETIONARY - 9.9%
	Abercrombie & Fitch Co. - Class A	9	$             413
	Amazon.com Inc. (c)	34	4,667
	Apollo Group Inc. - Class A (c)	13	771
	AutoNation Inc. (c) (e)	8	150
	AutoZone Inc. (c)	3	509
	Bed Bath & Beyond Inc. (c)	26	1,123
	Best Buy Co. Inc.	35	1,471
	Big Lots Inc. (c)	8	292
	Carnival Corp. (c)	44	1,700
	CBS Corp. - Class B	66	923
	Coach Inc.	31	1,231
	Comcast Corp. - Class A	285	5,363
	Darden Restaurants Inc.	14	634
	DeVry Inc.	6	405
	DirecTV - Class A (c)	94	3,178
	Discovery Communications Inc. - Class A (c)	29	971
	DR Horton Inc.	26	329
	Eastman Kodak Co. (c)	24	137
	Expedia Inc. (c)	22	539
	Family Dollar Stores Inc.	14	508
	Ford Motor Co. (c) (e)	338	4,253
	Fortune Brands Inc.	15	718
	GameStop Corp. - Class A (c) (e)	15	336
	Gannett Co. Inc.	22	367
	Gap Inc.	47	1,075
	Genuine Parts Co.	16	682
	Goodyear Tire & Rubber Co. (c)	23	288
	H&R Block Inc.	33	586
	Harley-Davidson Inc.	24	669
	Harman International Industries Inc. (c)	7	329
	Hasbro Inc.	12	477
	Home Depot Inc.	171	5,523
	International Game Technology	30	560
	Interpublic Group of Cos. Inc. (c) (e)	46	381
	J.C. Penney Co. Inc.	23	747
	Johnson Controls Inc.	68	2,230
	Kohl's Corp. (c)	31	1,692
	Leggett & Platt Inc. (e)	15	319
	Lennar Corp.	16	283
	Limited Brands Inc.	26	649
	Lowe's Cos. Inc.	148	3,585
	Macy's Inc.	41	900
	Marriott International Inc. - Class A	26	816
	Mattel Inc.	35	807
	McDonald's Corp.	108	7,205
	McGraw-Hill Cos. Inc.	32	1,137
	Meredith Corp. (e)	3	120
	New York Times Co. - Class A (c)	11	126
	Newell Rubbermaid Inc.	28	424
	News Corp. - Class A	227	3,264
	Nike Inc. - Class B	39	2,882
	Nordstrom Inc.	16	665
	Office Depot Inc. (c)	29	231
	Omnicom Group Inc.	30	1,180
	O'Reilly Automotive Inc. (c)	14	586
	Polo Ralph Lauren Corp.	6	488
	Priceline.com Inc. (c)	5	1,174
	Pulte Homes Inc. (c)	30	335
	RadioShack Corp.	12	270
	Ross Stores Inc.	13	673
	Scripps Networks Interactive Inc.	8	372
	Sears Holdings Corp. (c) (e)	5	536
	Sherwin-Williams Co.	9	634
	Stanley Black & Decker Inc.	16	917
	Staples Inc.	73	1,718
	Starbucks Corp. (c)	75	1,817
	Starwood Hotels & Resorts Worldwide Inc. (e)	19	884
	Target Corp.	76	3,976
	Tiffany & Co.	13	602
	Time Warner Cable Inc.	36	1,893
	Time Warner Inc.	116	3,614
	TJX Cos. Inc.	42	1,797
	Urban Outfitters Inc. (c)	13	488
	VF Corp.	9	722
	Viacom Inc. - Class B (c)	61	2,102
	Walt Disney Co. (e)	195	6,797
	Washington Post Co.	1	262
	Whirlpool Corp. (e)	7	638
	Wyndham Worldwide Corp.	18	461
	Wynn Resorts Ltd.	7	537
	Yum! Brands Inc. (e)	47	1,812
			106,925
CONSUMER STAPLES - 11.0%
	Altria Group Inc.	209	4,289
	Archer-Daniels-Midland Co.	65	1,870
	Avon Products Inc.	43	1,460
	Brown-Forman Corp. - Class B	11	659
	Campbell Soup Co.	19	658
	Clorox Co.	14	877
	Coca-Cola Co.	231	12,719
	Coca-Cola Enterprises Inc.	31	862
	Colgate-Palmolive Co.	50	4,229
	ConAgra Foods Inc.	45	1,123
	Constellation Brands Inc. - Class A (c)	20	332
	Costco Wholesale Corp.	44	2,638
	CVS Caremark Corp.	140	5,106
	Dean Foods Co. (c)	19	296
	Dr. Pepper Snapple Group Inc.	25	878
	Estee Lauder Cos. Inc.	12	753
	General Mills Inc.	33	2,347
	Hershey Co.	16	700
	HJ Heinz Co.	32	1,454
	Hormel Foods Corp.	7	303
	JM Smucker Co.	12	705
	Kellogg Co.	26	1,374
	Kimberly-Clark Corp.	42	2,633
	Kraft Foods Inc. - Class A	174	5,273
	Kroger Co.	66	1,420
	Lorillard Inc.	16	1,180
	McCormick & Co. Inc.	13	501
	Mead Johnson Nutrition Co.	20	1,040
	Molson Coors Brewing Co.	15	651
	PepsiCo Inc.	164	10,848
	Philip Morris International Inc.	189	9,844
	Procter & Gamble Co.	291	18,432
	Reynolds American Inc.	17	892
	Safeway Inc.	40	988
	Sara Lee Corp.	68	950
	SUPERVALU Inc.	22	365
	Sysco Corp.	60	1,761
	Tyson Foods Inc.	30	583
	Walgreen Co.	99	3,672
	Wal-Mart Stores Inc.	214	11,902
	Whole Foods Market Inc. (c)	17	627
			119,194
ENERGY - 10.6%
	Anadarko Petroleum Corp.	50	3,605
	Apache Corp.	34	3,433
	Baker Hughes Inc. (e)	31	1,473
	BJ Services Co.	30	639
	Cabot Oil & Gas Corp. - Class A	11	393
	Cameron International Corp. (c)	24	1,024
	Chesapeake Energy Corp.	66	1,553
	Chevron Corp.	201	15,277
	ConocoPhillips	149	7,636
	Consol Energy Inc.	22	939
	Denbury Resources Inc. (c)	38	648
	Devon Energy Corp.	45	2,895
	Diamond Offshore Drilling Inc. (e)	7	628
	El Paso Corp.	69	747
	EOG Resources Inc.	25	2,362
	Exxon Mobil Corp.	473	31,712
	FMC Technologies Inc. (c)	12	776
	Halliburton Co.	91	2,742
	Helmerich & Payne Inc.	10	391
	Hess Corp.	29	1,835
	Marathon Oil Corp.	71	2,254
	Massey Energy Co.	9	465
	Murphy Oil Corp.	19	1,088
	Nabors Industries Ltd. (c)	28	547
	National Oilwell Varco Inc.	42	1,710
	Noble Energy Inc.	18	1,285
	Occidental Petroleum Corp.	82	6,890
	Peabody Energy Corp.	27	1,240
	Pioneer Natural Resources Co.	11	640
	Range Resources Corp.	15	724
	Rowan Cos. Inc. (c)	12	337
	Schlumberger Ltd.	120	7,621
	Smith International Inc.	25	1,077
	Southwestern Energy Co. (c)	35	1,421
	Spectra Energy Corp.	65	1,471
	Sunoco Inc.	12	359
	Tesoro Corp.	13	177
	Valero Energy Corp.	57	1,124
	Williams Cos. Inc.	59	1,360
	XTO Energy Inc.	59	2,768
			115,266
FINANCIALS - 16.1%
	AFLAC Inc.	47	2,562
	Allstate Corp.	54	1,747
	American Express Co.	120	4,959
	American International Group Inc. (c) (e)	14	470
	Ameriprise Financial Inc.	26	1,171
	AON Corp.	27	1,143
	Apartment Investment & Management Co.	12	227
	Assurant Inc.	11	380
	AvalonBay Communities Inc.	8	715
	Bank of America Corp.	1,006	17,962
	Bank of New York Mellon Corp. (a)	121	3,749
	BB&T Corp.	70	2,251
	Berkshire Hathaway Inc. - Class B (c)	166	13,492
	Boston Properties Inc.	14	1,062
	Capital One Financial Corp.	46	1,899
	CB Richard Ellis Group Inc. - Class A (c)	25	403
	Charles Schwab Corp.	98	1,840
	Chubb Corp.	33	1,716
	Cincinnati Financial Corp.	16	471
	Citigroup Inc. (c)	1,972	7,987
	CME Group Inc.	7	2,120
	Comerica Inc.	18	673
	Discover Financial Services	53	795
	E*Trade Financial Corp. (c)	159	262
	Equity Residential (e)	28	1,115
	Federated Investors Inc. - Class B (e)	8	224
	Fifth Third Bancorp	78	1,057
	First Horizon National Corp. (c)	23	327
	Franklin Resources Inc. (e)	15	1,658
	Genworth Financial Inc. - Class A (c)	50	910
	Goldman Sachs Group Inc.	53	9,010
	Hartford Financial Services Group Inc.	39	1,106
	HCP Inc.	29	946
	Health Care REIT Inc.	13	571
	Host Hotels & Resorts Inc. (c)	66	971
	Hudson City Bancorp Inc. (e)	47	659
	Huntington Bancshares Inc.	68	363
	IntercontinentalExchange Inc. (c)	7	807
	Invesco Ltd.	42	919
	Janus Capital Group Inc.	17	249
	JPMorgan Chase & Co.	399	17,833
	KeyCorp (e)	86	670
	Kimco Realty Corp.	41	645
	Legg Mason Inc. (e)	16	466
	Leucadia National Corp. (c)	19	481
	Lincoln National Corp.	30	908
	Loews Corp.	35	1,313
	M&T Bank Corp. (e)	8	672
	Marsh & McLennan Cos. Inc.	54	1,311
	Marshall & Ilsley Corp.	54	436
	MetLife Inc.	82	3,568
	Moody's Corp.	20	596
	Morgan Stanley	140	4,114
	NASDAQ OMX Group Inc. (c)	15	318
	Northern Trust Corp.	24	1,347
	NYSE Euronext	26	757
	People's United Financial Inc.	38	592
	Plum Creek Timber Co. Inc.	17	645
	PNC Financial Services Group Inc.	52	3,103
	Principal Financial Group Inc.	31	915
	Progressive Corp. (c)	66	1,257
	ProLogis	48	636
	Prudential Financial Inc.	47	2,829
	Public Storage	14	1,260
	Regions Financial Corp.	116	913
	Simon Property Group Inc.	29	2,448
	SLM Corp. (c)	50	620
	State Street Corp.	50	2,250
	SunTrust Banks Inc.	50	1,349
	T. Rowe Price Group Inc.	26	1,435
	Torchmark Corp.	8	445
	Travelers Cos. Inc.	52	2,786
	U.S. Bancorp	192	4,973
	Unum Group (e)	33	808
	Ventas Inc. (e)	15	731
	Vornado Realty Trust	16	1,205
	Wells Fargo & Co.	520	16,172
	XL Capital Ltd. - Class A	35	658
	Zions Bancorporation (e)	16	339
			174,752
HEALTH CARE - 11.9%
	Abbott Laboratories	156	8,208
	Aetna Inc.	43	1,526
	Allergan Inc.	31	2,022
	AmerisourceBergen Corp. (e)	28	815
	Amgen Inc. (c)	98	5,876
	Baxter International Inc.	61	3,525
	Becton Dickinson & Co.	24	1,869
	Biogen Idec Inc. (c)	27	1,558
	Boston Scientific Corp. (c)	147	1,065
	Bristol-Myers Squibb Co.	172	4,597
	Cardinal Health Inc.	36	1,314
	CareFusion Corp. (c)	17	462
	Celgene Corp. (c)	46	2,864
	Cephalon Inc. (c)	7	505
	CIGNA Corp.	28	1,019
	Coventry Health Care Inc. (c)	15	377
	CR Bard Inc.	9	818
	DaVita Inc. (c)	10	665
	Dentsply International Inc.	14	494
	Eli Lilly & Co.	102	3,693
	Express Scripts Inc. (c)	28	2,817
	Forest Laboratories Inc. (c)	30	925
	Genzyme Corp. (c)	27	1,390
	Gilead Sciences Inc. (c)	91	4,127
	Hospira Inc. (c)	17	942
	Humana Inc. (c)	17	777
	Intuitive Surgical Inc. (c)	4	1,367
	Johnson & Johnson	276	17,997
	King Pharmaceuticals Inc. (c)	26	303
	Laboratory Corp. of America Holdings (c)	10	787
	Life Technologies Corp. (c)	18	958
	McKesson Corp.	27	1,784
	Medco Health Solutions Inc. (c)	47	3,012
	Medtronic Inc.	111	4,995
	Merck & Co. Inc.	313	11,674
	Millipore Corp. (c)	6	590
	Mylan Inc. (c) (e)	31	708
	Patterson Cos. Inc. (c)	10	301
	PerkinElmer Inc.	12	292
	Pfizer Inc.	810	13,884
	Quest Diagnostics Inc.	15	885
	St. Jude Medical Inc. (c)	33	1,340
	Stryker Corp.	28	1,630
	Tenet Healthcare Corp. (c)	44	254
	Thermo Fisher Scientific Inc. (c)	41	2,120
	UnitedHealth Group Inc.	116	3,799
	Varian Medical Systems Inc. (c)	12	678
	Waters Corp. (c)	10	643
	Watson Pharmaceuticals Inc. (c)	11	445
	WellPoint Inc. (c)	45	2,874
	Zimmer Holdings Inc. (c)	21	1,273
			128,843
INDUSTRIALS - 10.2%
	3M Co.	71	5,972
	Avery Dennison Corp.	10	382
	Boeing Co.	76	5,519
	Caterpillar Inc.	63	3,945
	CH Robinson Worldwide Inc.	16	916
	Cintas Corp.	13	353
	CSX Corp.	39	1,999
	Cummins Inc.	20	1,221
	Danaher Corp.	26	2,108
	Deere & Co.	43	2,536
	Dover Corp.	18	852
	Dun & Bradstreet Corp.	5	389
	Eaton Corp.	16	1,227
	Emerson Electric Co.	76	3,806
	Equifax Inc.	13	464
	Expeditors International Washington Inc. (e)	21	769
	Fastenal Co. (e)	13	624
	FedEx Corp.	31	2,939
	First Solar Inc. (c) (e)	5	609
	Flowserve Corp.	6	628
	Fluor Corp.	18	815
	General Dynamics Corp.	39	2,994
	General Electric Co.	1,070	19,477
	Goodrich Corp.	13	896
	Honeywell International Inc.	77	3,479
	Illinois Tool Works Inc.	39	1,845
	Iron Mountain Inc. (c)	18	498
	ITT Corp.	18	958
	Jacobs Engineering Group Inc. (c)	13	575
	L-3 Communications Holdings Inc.	11	1,041
	Lockheed Martin Corp.	32	2,639
	Masco Corp.	37	569
	Norfolk Southern Corp.	37	2,080
	Northrop Grumman Systems Corp.	30	1,999
	PACCAR Inc.	37	1,591
	Pall Corp.	12	475
	Parker Hannifin Corp.	16	1,055
	Pitney Bowes Inc.	21	506
	Precision Castparts Corp.	14	1,809
	Quanta Services Inc. (c)	22	414
	Raytheon Co.	38	2,179
	Republic Services Inc. - Class A	32	917
	Robert Half International Inc.	15	460
	Rockwell Automation Inc.	14	788
	Rockwell Collins Inc.	15	963
	Roper Industries Inc.	9	526
	RR Donnelley & Sons Co.	21	440
	Ryder System Inc.	5	197
	Snap-On Inc.	6	242
	Southwest Airlines Co.	73	959
	Stericycle Inc. (c)	8	459
	Textron Inc.	28	589
	Union Pacific Corp.	51	3,722
	United Parcel Service Inc. - Class B	100	6,420
	United Technologies Corp.	94	6,919
	Waste Management Inc.	49	1,681
	WW Grainger Inc. (e)	6	672
			111,106
INFORMATION TECHNOLOGY - 18.4%
	Adobe Systems Inc. (c)	53	1,867
	Advanced Micro Devices Inc. (c)	56	522
	Agilent Technologies Inc. (c)	35	1,211
	Akamai Technologies Inc. (c)	18	552
	Altera Corp.	29	706
	Amphenol Corp. - Class A	17	711
	Analog Devices Inc.	30	871
	Apple Inc. (c)	91	21,366
	Applied Materials Inc.	135	1,824
	Autodesk Inc. (c)	23	666
	Automatic Data Processing Inc.	51	2,259
	BMC Software Inc. (c)	18	685
	Broadcom Corp. - Class A (c)	43	1,443
	CA Inc.	39	910
	Cisco Systems Inc. (c)	574	14,950
	Citrix Systems Inc. (c)	18	850
	Cognizant Technology Solutions Corp. (c)	30	1,529
	Computer Sciences Corp. (c)	16	850
	Compuware Corp. (c)	24	203
	Corning Inc.	157	3,167
	Dell Inc. (c)	173	2,600
	eBay Inc. (c)	114	3,062
	Electronic Arts Inc. (c)	32	605
	EMC Corp. (c)	206	3,721
	Fidelity National Information Services Inc.	32	752
	Fiserv Inc. (c)	15	767
	FLIR Systems Inc. (c)	15	428
	Google Inc. - Class A (c)	24	13,746
	Harris Corp.	13	633
	Hewlett-Packard Co.	236	12,552
	Intel Corp.	554	12,336
	International Business Machines Corp.	130	16,711
	Intuit Inc. (c)	31	1,063
	Jabil Circuit Inc.	19	313
	JDS Uniphase Corp. (c)	22	270
	Juniper Networks Inc. (c) (e)	53	1,625
	KLA-Tencor Corp. (e)	17	527
	Lexmark International Inc. (c)	8	274
	Linear Technology Corp. (e)	22	621
	LSI Corp. (c)	66	403
	MasterCard Inc.	10	2,466
	McAfee Inc. (c)	16	623
	MEMC Electronic Materials Inc. (c)	21	324
	Microchip Technology Inc. (e)	18	516
	Micron Technology Inc. (c)	83	867
	Microsoft Corp.	765	22,399
	Molex Inc.	14	288
	Monster Worldwide Inc. (c) (e)	12	201
	Motorola Inc. (c)	233	1,636
	National Semiconductor Corp. (e)	24	345
	NetApp Inc. (c)	35	1,133
	Novell Inc. (c)	37	220
	Novellus Systems Inc. (c)	9	223
	Nvidia Corp. (c)	54	943
	Oracle Corp.	392	10,076
	Paychex Inc. (e)	31	965
	QLogic Corp. (c)	10	205
	QUALCOMM Inc.	169	7,084
	Red Hat Inc. (c)	19	564
	SAIC Inc. (c)	31	550
	Salesforce.com Inc. (c)	11	831
	SanDisk Corp. (c)	23	804
	Symantec Corp. (c)	81	1,376
	Tellabs Inc. (c)	39	298
	Teradata Corp. (c)	17	493
	Teradyne Inc. (c)	17	189
	Texas Instruments Inc.	125	3,055
	Total System Services Inc.	20	320
	VeriSign Inc. (c)	19	500
	Visa Inc. - Class A	45	4,082
	Western Digital Corp. (c)	23	905
	Western Union Co.	68	1,146
	Xerox Corp.	136	1,330
	Xilinx Inc.	27	694
	Yahoo! Inc. (c)	120	1,981
			199,783
MATERIALS - 3.4%
	Air Products & Chemicals Inc.	21	1,581
	Airgas Inc.	8	521
	AK Steel Holding Corp.	10	239
	Alcoa Inc.	103	1,465
	Allegheny Technologies Inc.	10	531
	Ball Corp.	9	501
	Bemis Co. Inc.	10	294
	CF Industries Holdings Inc.	5	442
	Cliffs Natural Resources Inc.	14	974
	Dow Chemical Co.	116	3,419
	Eastman Chemical Co.	7	475
	Ecolab Inc.	23	1,020
	EI Du Pont de Nemours & Co.	91	3,383
	FMC Corp.	7	439
	Freeport-McMoRan Copper & Gold Inc.	43	3,615
	International Flavors & Fragrances Inc.	8	380
	International Paper Co.	42	1,042
	MeadWestvaco Corp.	18	449
	Monsanto Co.	55	3,915
	Newmont Mining Corp.	49	2,515
	Nucor Corp.	32	1,441
	Owens-Illinois Inc. (c)	17	599
	Pactiv Corp. (c)	12	314
	PPG Industries Inc.	16	1,067
	Praxair Inc.	31	2,557
	Sealed Air Corp.	15	314
	Sigma-Aldrich Corp.	12	643
	Titanium Metals Corp. (c)	7	119
	United States Steel Corp. (e)	15	925
	Vulcan Materials Co.	13	608
	Weyerhaeuser Co.	21	936
			36,723
TELECOMMUNICATION SERVICES - 2.7%
	American Tower Corp. (c)	41	1,728
	AT&T Inc.	592	15,298
	CenturyTel Inc.	30	1,076
	Frontier Communications Corp. (e)	30	224
	MetroPCS Communications Inc. (c) (e)	23	165
	Qwest Communications International Inc.	146	760
	Sprint Nextel Corp. (c)	301	1,143
	Verizon Communications Inc.	285	8,827
	Windstream Corp.	44	475
			29,696
UTILITIES - 3.4%
	AES Corp. (c)	65	718
	Allegheny Energy Inc.	17	401
	Ameren Corp.	24	629
	American Electric Power Co. Inc.	48	1,646
	CenterPoint Energy Inc.	40	576
	CMS Energy Corp.	22	334
	Consolidated Edison Inc.	28	1,265
	Constellation Energy Group Inc.	20	694
	Dominion Resources Inc.	60	2,482
	DTE Energy Co.	16	723
	Duke Energy Corp.	132	2,151
	Edison International	32	1,088
	Entergy Corp.	19	1,552
	EQT Corp.	13	529
	Exelon Corp.	66	2,907
	FirstEnergy Corp.	31	1,203
	FPL Group Inc.	42	2,011
	Integrys Energy Group Inc. (e)	8	374
	Nicor Inc.	5	201
	NiSource Inc.	28	449
	Northeast Utilities	18	497
	NRG Energy Inc. (c)	25	528
	Oneok Inc.	10	458
	Pepco Holdings Inc. (e)	21	356
	PG&E Corp.	37	1,587
	Pinnacle West Capital Corp.	10	359
	PPL Corp.	37	1,021
	Progress Energy Inc.	29	1,131
	Public Service Enterprise Group Inc.	51	1,505
	Questar Corp.	17	740
	SCANA Corp.	11	418
	Sempra Energy	25	1,244
	Southern Co.	82	2,736
	TECO Energy Inc.	22	343
	Wisconsin Energy Corp.	12	569
	Xcel Energy Inc.	45	946
			36,371
	Total Common Stocks (cost $988,940)		1,058,659
NON-U.S. GOVERNMENT AGENCY ASSET-BACKED SECURITIES - 0.0%
	Sigma Finance, Inc. (d) (f) (u)	$                915	39
	Total Non-U.S. Government Agency Asset-Backed Securities (cost $915)		39
SHORT TERM INVESTMENTS - 3.9%
Mutual Funds - 2.1%
	JNL Money Market Fund, 0.03% (a) (h)	23,632	23,632
Securities Lending Collateral - 1.6%
	Securities Lending Cash Collateral Fund LLC, 0.24% (a) (h)	5,854	5,854
	Securities Lending Liquidating Fund LLC, 0.38% (a) (h)	11,426	11,426
			17,280
U.S. Treasury Securities - 0.2%
	U.S. Treasury Bill, 0.13%, 06/10/10 (o)	2,100	2,099
	Total Short Term Investments (cost $43,011)		43,011
Total Investments - 101.5% (cost $1,032,866)			1,101,709
Other Assets and Liabilities, Net -  (1.5%)			(16,700)
Total Net Assets - 100%			$   1,085,009

JNL/Mellon Capital Management S&P 400 MidCap Index Fund
COMMON STOCKS - 98.6%
CONSUMER DISCRETIONARY - 14.4%
	99 Cents Only Stores (c)	24	$             396
	Aaron's Inc.	29	969
	Advance Auto Parts Inc.	51	2,130
	Aeropostale Inc. (c)	55	1,576
	American Eagle Outfitters Inc.	114	2,119
	American Greetings Corp.	21	444
	AnnTaylor Stores Corp. (c)	33	678
	Bally Technologies Inc. (c)	30	1,236
	Barnes & Noble Inc. (e)	22	477
	Bob Evans Farms Inc.	17	516
	BorgWarner Inc. (c)	64	2,458
	Boyd Gaming Corp. (c) (e)	31	310
	Brinker International Inc.	55	1,056
	Brink's Home Security Holdings Inc. (c)	25	1,077
	Burger King Holdings Inc.	49	1,046
	Career Education Corp. (c)	36	1,154
	Carmax Inc. (c) (e)	123	3,080
	Cheesecake Factory Inc. (c)	33	904
	Chico's FAS Inc. (c)	98	1,416
	Chipotle Mexican Grill Inc. - Class A (c)	17	1,959
	Coldwater Creek Inc. (c) (e)	31	213
	Collective Brands Inc. (c)	36	808
	Corinthian Colleges Inc. (c) (e)	47	825
	Dick's Sporting Goods Inc. (c)	49	1,288
	Dollar Tree Inc. (c)	49	2,876
	DreamWorks Animation SKG Inc. (c)	42	1,644
	Foot Locker Inc.	86	1,299
	Fossil Inc. (c)	27	1,006
	Gentex Corp.	77	1,488
	Guess? Inc.	32	1,508
	HanesBrands Inc. (c)	53	1,464
	Harte-Hanks Inc.	21	268
	International Speedway Corp. - Class A	16	404
	ITT Educational Services Inc. (c) (e)	16	1,846
	J Crew Group Inc. (c)	31	1,417
	John Wiley & Sons Inc.	23	990
	KB Home	40	665
	Lamar Advertising Co. (c)	29	1,013
	Life Time Fitness Inc. (c) (e)	22	613
	LKQ Corp. (c)	78	1,583
	Matthews International Corp. - Class A (e)	16	579
	MDC Holdings Inc.	21	722
	Mohawk Industries Inc. (c)	31	1,683
	NetFlix Inc. (c) (e)	23	1,696
	NVR Inc. (c)	3	2,446
	Panera Bread Co. - Class A (c)	18	1,343
	PetSmart Inc.	68	2,175
	Phillips-Van Heusen Corp.	29	1,636
	Regis Corp.	32	597
	Rent-A-Center Inc. (c)	36	860
	Ryland Group Inc.	25	550
	Saks Inc. (c) (e)	84	723
	Scholastic Corp.	14	386
	Scientific Games Corp. - Class A (c)	35	492
	Service Corp. International	140	1,287
	Sotheby's - Class A	37	1,157
	Strayer Education Inc. (e)	8	1,873
	Thor Industries Inc.	19	575
	Timberland Co. - Class A (c)	23	489
	Toll Brothers Inc. (c)	77	1,609
	Tupperware Brands Corp.	35	1,677
	Under Armour Inc. - Class A (c) (e)	20	595
	Warnaco Group Inc. (c)	25	1,204
	Wendy's/Arby's Group Inc.	193	966
	Williams-Sonoma Inc.	59	1,539
	WMS Industries Inc. (c)	29	1,218
			78,296
CONSUMER STAPLES - 3.8%
	Alberto-Culver Co.	47	1,236
	BJ's Wholesale Club Inc. (c) (e)	31	1,138
	Church & Dwight Co. Inc.	39	2,603
	Corn Products International Inc.	41	1,436
	Energizer Holdings Inc. (c)	38	2,413
	Flowers Foods Inc. (e)	41	1,022
	Green Mountain Coffee Roasters Inc. (c)	19	1,866
	Hansen Natural Corp. (c)	38	1,648
	Lancaster Colony Corp.	10	615
	NBTY Inc. (c)	35	1,672
	Ralcorp Holdings Inc. (c)	30	2,044
	Ruddick Corp. (e)	23	718
	Smithfield Foods Inc. (c)	78	1,617
	Tootsie Roll Industries Inc. (e)	14	388
	Universal Corp.	13	697
			21,113
ENERGY - 5.8%
	Arch Coal Inc. (e)	90	2,045
	Atwood Oceanics Inc. (c)	31	1,085
	Bill Barrett Corp. (c)	20	619
	Cimarex Energy Co.	46	2,740
	Comstock Resources Inc. (c)	26	830
	Exterran Holdings Inc. (c) (e)	35	837
	Forest Oil Corp. (c) (e)	62	1,601
	Frontier Oil Corp.	56	758
	Helix Energy Solutions Group Inc. (c)	49	643
	Mariner Energy Inc. (c)	56	844
	Newfield Exploration Co. (c)	73	3,804
	Oceaneering International Inc. (c)	30	1,922
	Overseas Shipholding Group Inc.	14	549
	Patriot Coal Corp. (c) (e)	42	855
	Patterson-UTI Energy Inc.	82	1,145
	Plains Exploration & Production Co. (c)	77	2,302
	Pride International Inc. (c)	97	2,910
	Quicksilver Resources Inc. (c)	66	922
	Southern Union Co.	69	1,740
	Superior Energy Services Inc. (c)	43	914
	Tidewater Inc.	29	1,349
	Unit Corp. (c)	22	913
			31,327
FINANCIALS - 20.1%
	Affiliated Managers Group Inc. (c) (e)	23	1,844
	Alexandria Real Estate Equities Inc. (e)	24	1,651
	AMB Property Corp.	82	2,238
	American Financial Group Inc.	41	1,169
	AmeriCredit Corp. (c)	53	1,265
	Apollo Investment Corp.	97	1,239
	Arthur J Gallagher & Co.	57	1,388
	Associated Banc-Corp	95	1,316
	Astoria Financial Corp.	46	662
	BancorpSouth Inc. (e)	41	851
	Bank of Hawaii Corp.	27	1,192
	BRE Properties Inc. - Class A (e)	30	1,090
	Brown & Brown Inc. (e)	65	1,168
	Camden Property Trust	35	1,474
	Cathay General Bancorp (e)	44	513
	City National Corp. (e)	24	1,291
	Commerce Bancshares Inc.	40	1,656
	Corporate Office Properties Trust (e)	32	1,293
	Cousins Properties Inc.	57	471
	Cullen/Frost Bankers Inc. (e)	33	1,847
	Duke Realty Corp.	124	1,533
	Eaton Vance Corp.	65	2,171
	Equity One Inc. (e)	18	336
	Essex Property Trust Inc. (e)	16	1,445
	Everest Re Group Ltd.	33	2,644
	Federal Realty Investment Trust	34	2,456
	Fidelity National Financial Inc. - Class A	127	1,882
	First American Corp.	57	1,930
	First Niagara Financial Group Inc.	104	1,479
	FirstMerit Corp.	48	1,037
	Fulton Financial Corp.	98	994
	Greenhill & Co. Inc.	11	897
	Hanover Insurance Group Inc. (e)	27	1,165
	HCC Insurance Holdings Inc.	63	1,743
	Highwoods Properties Inc.	39	1,250
	Horace Mann Educators Corp.	22	335
	Hospitality Properties Trust	68	1,629
	International Bancshares Corp. (e)	27	624
	Jefferies Group Inc. (c) (e)	67	1,589
	Jones Lang LaSalle Inc.	23	1,685
	Liberty Property Trust (e)	62	2,108
	Macerich Co.	54	2,069
	Mack-Cali Realty Corp.	44	1,540
	Mercury General Corp.	20	862
	MSCI Inc. (c)	58	2,088
	Nationwide Health Properties Inc.	65	2,273
	New York Community Bancorp Inc. (e)	238	3,941
	NewAlliance Bancshares Inc. (e)	59	742
	Old Republic International Corp.	133	1,683
	Omega Healthcare Investors Inc.	49	956
	PacWest Bancorp	15	353
	Potlatch Corp.	22	773
	Prosperity Bancshares Inc.	25	1,016
	Protective Life Corp.	46	1,007
	Raymond James Financial Inc.	55	1,463
	Rayonier Inc.	44	2,000
	Realty Income Corp. (e)	58	1,766
	Regency Centers Corp.	45	1,685
	Reinsurance Group of America Inc.	40	2,112
	SEI Investments Co.	71	1,564
	Senior Housing Properties Trust	70	1,556
	SL Green Realty Corp.	43	2,454
	StanCorp Financial Group Inc.	26	1,217
	SVB Financial Group (c)	23	1,067
	Synovus Financial Corp.	271	892
	TCF Financial Corp. (e)	68	1,086
	Transatlantic Holdings Inc.	35	1,873
	Trustmark Corp. (e)	30	733
	UDR Inc.	86	1,512
	Unitrin Inc.	28	775
	Valley National Bancorp (e)	85	1,299
	Waddell & Reed Financial Inc. - Class A	47	1,695
	Washington Federal Inc.	62	1,262
	Webster Financial Corp.	37	647
	Weingarten Realty Investors	58	1,244
	Westamerica Bancorporation (e)	16	901
	Wilmington Trust Corp. (e)	49	811
	WR Berkley Corp.	71	1,846
			109,313
HEALTH CARE - 12.5%
	Affymetrix Inc. (c)	40	297
	Beckman Coulter Inc.	38	2,416
	Bio-Rad Laboratories Inc. - Class A (c)	11	1,101
	Cerner Corp. (c) (e)	37	3,181
	Charles River Laboratories International Inc. (c)	36	1,429
	Community Health Systems Inc. (c)	51	1,895
	Covance Inc. (c) (e)	35	2,170
	Edwards Lifesciences Corp. (c)	31	3,077
	Endo Pharmaceuticals Holdings Inc. (c)	65	1,533
	Gen-Probe Inc. (c)	27	1,355
	Health Management Associates Inc. (c)	138	1,187
	Health Net Inc. (c)	55	1,375
	Henry Schein Inc. (c)	50	2,939
	Hill-Rom Holdings Inc.	34	912
	Hologic Inc. (c)	142	2,638
	Idexx Laboratories Inc. (c) (e)	32	1,842
	Immucor Inc. (c)	39	866
	Kindred Healthcare Inc. (c)	21	381
	Kinetic Concepts Inc. (c)	34	1,636
	LifePoint Hospitals Inc. (c)	29	1,077
	Lincare Holdings Inc. (c) (e)	36	1,626
	Masimo Corp. (c)	29	768
	Medicis Pharmaceutical Corp.	31	779
	Mettler Toledo International Inc. (c)	19	2,032
	Omnicare Inc.	66	1,875
	OSI Pharmaceuticals Inc. (c)	32	1,913
	Owens & Minor Inc.	22	1,038
	Perrigo Co.	44	2,601
	Pharmaceutical Product Development Inc.	65	1,552
	Psychiatric Solutions Inc. (c)	31	928
	ResMed Inc. (c)	41	2,633
	STERIS Corp.	33	1,100
	Techne Corp.	21	1,312
	Teleflex Inc.	22	1,406
	Thoratec Corp. (c) (e)	30	1,018
	United Therapeutics Corp. (c)	27	1,467
	Universal Health Services Inc.	52	1,840
	Valeant Pharmaceutical International (c)	36	1,533
	Varian Inc. (c)	15	801
	VCA Antech Inc. (c)	47	1,323
	Vertex Pharmaceuticals Inc. (c)	110	4,507
	WellCare Health Plans Inc. (c)	23	677
			68,036
INDUSTRIALS - 14.3%
	AECOM Technology Corp. (c)	63	1,782
	AGCO Corp. (c) (e)	51	1,828
	AirTran Holdings Inc. (c)	76	387
	Alaska Air Group Inc. (c)	19	779
	Alexander & Baldwin Inc.	23	752
	Alliant Techsystems Inc. (c)	18	1,481
	AMETEK Inc.	59	2,463
	BE Aerospace Inc. (c) (e)	56	1,716
	Brink's Co.	26	725
	Bucyrus International Inc. - Class A	44	2,936
	Carlisle Cos. Inc.	33	1,246
	Clean Harbors Inc. (c)	13	704
	Con-Way Inc.	27	961
	Copart Inc. (c)	37	1,323
	Corporate Executive Board Co.	18	482
	Corrections Corp. of America (c)	64	1,272
	Crane Co.	25	889
	Deluxe Corp. (e)	29	557
	Donaldson Co. Inc.	43	1,920
	Federal Signal Corp.	27	242
	FTI Consulting Inc. (c)	25	985
	GATX Corp. (e)	25	709
	Graco Inc.	32	1,027
	Granite Construction Inc.	18	547
	Harsco Corp.	44	1,415
	Herman Miller Inc. (e)	31	565
	HNI Corp. (e)	25	670
	Hubbell Inc. - Class B	33	1,661
	IDEX Corp.	45	1,479
	JB Hunt Transport Services Inc.	48	1,737
	JetBlue Airways Corp. (c)	111	618
	Joy Global Inc.	57	3,205
	Kansas City Southern (c) (e)	53	1,924
	KBR Inc.	88	1,959
	Kennametal Inc.	45	1,266
	Kirby Corp. (c)	30	1,134
	Korn/Ferry International (c)	26	454
	Landstar System Inc.	27	1,140
	Lennox International Inc.	27	1,199
	Lincoln Electric Holdings Inc.	24	1,279
	Manpower Inc.	43	2,474
	Mine Safety Appliances Co.	16	448
	MSC Industrial Direct Co. - Class A	24	1,238
	Navigant Consulting Inc. (c)	27	322
	Nordson Corp.	19	1,265
	Oshkosh Corp. (c)	49	1,990
	Pentair Inc.	54	1,930
	Regal-Beloit Corp.	21	1,229
	Rollins Inc.	24	528
	Shaw Group Inc. (c)	46	1,587
	SPX Corp.	27	1,821
	Terex Corp. (c)	60	1,358
	Thomas & Betts Corp. (c)	29	1,141
	Timken Co.	44	1,317
	Towers Watson & Co.	24	1,120
	Trinity Industries Inc. (e)	44	875
	United Rentals Inc. (c)	32	302
	URS Corp. (c)	46	2,295
	Valmont Industries Inc. (e)	11	886
	Wabtec Corp. (e)	26	1,108
	Waste Connections Inc. (c)	43	1,474
	Werner Enterprises Inc.	24	546
	Woodward Governor Co.	31	1,004
			77,676
INFORMATION TECHNOLOGY - 14.5%
	3Com Corp. (c)	216	1,663
	ACI Worldwide Inc. (c)	18	375
	Acxiom Corp. (c)	42	760
	ADC Telecommunications Inc. (c)	50	363
	ADTRAN Inc.	30	790
	Advent Software Inc. (c) (e)	8	373
	Alliance Data Systems Corp. (c) (e)	29	1,853
	Ansys Inc. (c)	49	2,135
	AOL Inc. (c)	57	1,453
	Arrow Electronics Inc. (c)	66	1,990
	Atmel Corp. (c)	252	1,266
	Avnet Inc. (c)	84	2,506
	Broadridge Financial Solutions Inc.	73	1,560
	Cadence Design Systems Inc. (c)	144	958
	Ciena Corp. (c) (e)	49	748
	CommScope Inc. (c)	52	1,457
	Convergys Corp. (c)	66	807
	Cree Inc. (c)	58	4,100
	Diebold Inc.	35	1,125
	Digital River Inc. (c)	21	629
	DST Systems Inc. (c)	21	872
	Equinix Inc. (c) (e)	22	2,111
	F5 Networks Inc. (c)	44	2,692
	Factset Research Systems Inc.	23	1,696
	Fair Isaac Corp. (e)	26	656
	Fairchild Semiconductor International Inc. (c)	69	734
	Gartner Inc. - Class A (c)	33	745
	Global Payments Inc.	45	2,045
	Hewitt Associates Inc. - Class A (c)	46	1,834
	Informatica Corp. (c) (e)	50	1,342
	Ingram Micro Inc. - Class A (c)	90	1,583
	Integrated Device Technology Inc. (c)	93	569
	International Rectifier Corp. (c)	38	874
	Intersil Corp.	66	968
	Itron Inc. (c)	22	1,607
	Jack Henry & Associates Inc.	47	1,123
	Lam Research Corp. (c)	70	2,628
	Lender Processing Services Inc.	53	1,986
	Mantech International Corp. - Class A (c)	12	607
	Mentor Graphics Corp. (c)	58	467
	Micros Systems Inc. (c)	44	1,445
	National Instruments Corp.	32	1,054
	NCR Corp. (c)	88	1,213
	NeuStar Inc. - Class A (c)	40	1,002
	Palm Inc. (c) (e)	89	334
	Parametric Technology Corp. (c)	65	1,168
	Plantronics Inc.	26	802
	Polycom Inc. (c)	46	1,420
	Quest Software Inc. (c)	34	596
	RF Micro Devices Inc. (c) (e)	144	717
	Rovi Corp. (c)	57	2,131
	Semtech Corp. (c)	32	566
	Silicon Laboratories Inc. (c)	25	1,209
	Solera Holdings Inc.	39	1,490
	SRA International Inc. - Class A (c)	23	483
	Sybase Inc. (c)	45	2,115
	Synopsys Inc. (c)	81	1,807
	Tech Data Corp. (c)	27	1,138
	Trimble Navigation Ltd. (c)	67	1,910
	ValueClick Inc. (c)	46	469
	Vishay Intertechnology Inc. (c)	100	1,020
	Zebra Technologies Corp. (c)	33	963
			79,102
MATERIALS - 6.7%
	Albemarle Corp. (e)	50	2,144
	AptarGroup Inc.	37	1,473
	Ashland Inc.	43	2,268
	Cabot Corp.	35	1,061
	Carpenter Technology Corp.	24	891
	Commercial Metals Co.	62	940
	Cytec Industries Inc.	27	1,259
	Grief Inc.	19	1,044
	Intrepid Potash Inc. (c) (e)	23	695
	Louisiana-Pacific Corp. (c) (e)	67	607
	Lubrizol Corp.	38	3,450
	Martin Marietta Materials Inc. (e)	25	2,086
	Minerals Technologies Inc.	10	511
	Olin Corp.	43	853
	Packaging Corp. of America	57	1,399
	Reliance Steel & Aluminum Co.	35	1,743
	RPM International Inc.	71	1,524
	Scotts Miracle-Gro Co.	25	1,159
	Sensient Technologies Corp.	26	762
	Silgan Holdings Inc.	15	893
	Sonoco Products Co.	55	1,702
	Steel Dynamics Inc.	119	2,082
	Temple-Inland Inc.	59	1,213
	Terra Industries Inc.	53	2,432
	Valspar Corp.	54	1,585
	Worthington Industries Inc.	33	567
			36,343
TELECOMMUNICATION SERVICES - 0.8%
	Cincinnati Bell Inc. (c)	102	348
	Syniverse Holdings Inc. (c)	39	753
	Telephone & Data Systems Inc.	50	1,689
	tw telecom inc. (c)	83	1,504
			4,294
UTILITIES - 5.7%
	AGL Resources Inc.	43	1,653
	Alliant Energy Corp.	61	2,027
	Aqua America Inc. (e)	75	1,322
	Atmos Energy Corp.	51	1,467
	Black Hills Corp.	21	634
	Cleco Corp.	32	860
	DPL Inc.	66	1,795
	Dynegy Inc. (c)	286	359
	Energen Corp.	40	1,840
	Great Plains Energy Inc. (e)	75	1,387
	Hawaiian Electric Industries Inc. (e)	51	1,142
	IDACORP Inc.	25	882
	MDU Resources Group Inc.	103	2,233
	National Fuel Gas Co.	45	2,258
	NSTAR	59	2,084
	NV Energy Inc.	130	1,597
	OGE Energy Corp.	53	2,082
	PNM Resources Inc.	46	572
	UGI Corp.	60	1,593
	Vectren Corp.	45	1,109
	Westar Energy Inc.	60	1,342
	WGL Holdings Inc. (e)	27	929
			31,167
	Total Common Stocks (cost $520,910)		536,667
NON-U.S. GOVERNMENT AGENCY ASSET-BACKED SECURITIES - 0.0%
	Sigma Finance, Inc. (d) (f) (u)	$             2,206	94
	Total Non-U.S. Government Agency Asset-Backed Securities (cost $2,206)		94
SHORT TERM INVESTMENTS - 13.1%
Mutual Funds - 4.5%
	JNL Money Market Fund, 0.03% (a) (h)	24,368	24,368
Securities Lending Collateral - 8.5%
	Securities Lending Cash Collateral Fund LLC, 0.24% (a) (h)	29,298	29,298
	Securities Lending Liquidating Fund LLC, 0.38% (a) (h)	17,225	17,225
			46,523
U.S. Treasury Securities - 0.1%
	U.S. Treasury Bill, 0.13%, 06/10/10 (o)	410	410
	Total Short Term Investments (cost $71,301)		71,301
Total Investments - 111.7% (cost $594,417)			608,062
Other Assets and Liabilities, Net -  (11.7%)			(63,684)
Total Net Assets - 100%			$      544,378
JNL/Mellon Capital Management Small Cap Index Fund
COMMON STOCKS - 96.9%
CONSUMER DISCRETIONARY - 14.5%
	1-800-Flowers.com Inc. (c)	14	$               36
	99 Cents Only Stores (c)	26	431
	AFC Enterprises Inc. (c)	12	128
	Ambassadors Group Inc.	9	98
	American Apparel Inc. (c)	16	47
	American Axle & Manufacturing Holdings Inc. (c)	31	307
	American Greetings Corp.	21	435
	American Public Education Inc. (c)	10	447
	America's Car-Mart Inc. (c)	5	125
	Amerigon Inc. (c)	11	116
	Ameristar Casinos Inc.	14	253
	AnnTaylor Stores Corp. (c)	33	676
	Arbitron Inc. (e)	15	402
	ArvinMeritor Inc. (c)	39	522
	Asbury Automotive Group Inc. (c)	19	249
	Ascent Media Corp. (c)	7	192
	Audiovox Corp. (c)	9	70
	Bally Technologies Inc. (c)	29	1,184
	Beazer Homes USA Inc. (c)	30	138
	Bebe Stores Inc.	13	112
	Belo Corp.	46	316
	Benihana Inc. - Class A (c)	6	38
	Big 5 Sporting Goods Corp.	11	162
	BJ's Restaurants Inc. (c)	11	246
	Blue Nile Inc. (c) (e)	7	395
	Bluegreen Corp. (c)	6	21
	Blyth Inc.	3	85
	Bob Evans Farms Inc.	17	515
	Books-A-Million Inc. (e)	3	23
	Borders Group Inc. (c)	25	44
	Bridgepoint Education Inc. (c) (e)	7	172
	Brookfield Homes Corp. (c) (e)	6	52
	Brown Shoe Co. Inc.	23	355
	Brunswick Corp.	49	782
	Buckle Inc. (e)	13	496
	Buffalo Wild Wings Inc. (c) (e)	10	471
	Build-A-Bear Workshop Inc. (c)	9	62
	Cabela's Inc. - Class A (c) (e)	23	396
	California Pizza Kitchen Inc. (c)	11	183
	Callaway Golf Co.	34	304
	Capella Education Co. (c)	8	730
	Caribou Coffee Co. Inc. (c)	3	21
	Carmike Cinemas Inc. (c)	8	116
	Carrol's Restaurant Group Inc. (c)	5	34
	Carter's Inc. (c)	31	945
	Cato Corp. - Class A	16	339
	Cavco Industries Inc. (c) (e)	3	103
	CEC Entertainment Inc. (c)	12	463
	Charming Shoppes Inc. (c) (e)	63	344
	Cheesecake Factory Inc. (c) (e)	33	900
	Cherokee Inc.	5	94
	Childrens Place Retail Stores Inc. (c) (e)	12	534
	China Automotive Systems Inc. (c) (e)	2	48
	ChinaCast Education Corp. (c)	20	150
	Christopher & Banks Corp.	18	146
	Churchill Downs Inc.	5	172
	Cinemark Holdings Inc.	17	316
	Citi Trends Inc. (c)	9	276
	CKE Restaurants Inc.	26	291
	CKX Inc. (c)	35	211
	Coinstar Inc. (c) (e)	16	527
	Coldwater Creek Inc. (c) (e)	32	221
	Collective Brands Inc. (c)	36	808
	Columbia Sportswear Co. (e)	6	333
	Conn's Inc. (c) (e)	10	76
	Cooper Tire & Rubber Co.	33	626
	Core-Mark Holding Co. Inc. (c)	5	167
	Corinthian Colleges Inc. (c) (e)	43	759
	CPI Corp.	5	68
	Cracker Barrel Old Country Store Inc.	12	568
	Crocs Inc. (c)	45	390
	Crown Media Holdings Inc. (c) (e)	5	10
	CSS Industries Inc.	6	114
	Dana Holding Corp. (c)	77	916
	Deckers Outdoor Corp. (c)	7	1,001
	Denny's Corp. (c)	57	217
	Destination Maternity Corp. (c)	2	54
	Dillard's Inc. - Class A	29	674
	DineEquity Inc. (c) (e)	10	382
	Dolan Media Co. (c)	15	162
	Domino's Pizza Inc. (c)	20	277
	Dorman Products Inc. (c)	5	101
	Dover Downs Gaming & Entertainment Inc.	7	26
	Dress Barn Inc. (c)	31	820
	Drew Industries Inc. (c)	10	218
	Drugstore.com Inc. (c)	53	189
	DSW Inc. (c)	6	163
	Eastman Kodak Co. (c)	144	835
	Einstein Noah Restaurant Group Inc. (c)	2	28
	Ethan Allen Interiors Inc. (e)	14	281
	EW Scripps Co. (c)	16	138
	Exide Technologies (c)	26	148
	Finish Line - Class A	23	370
	Fisher Communications Inc. (c)	4	56
	Fossil Inc. (c)	26	978
	Fred's Inc.	21	247
	Frisch's Restaurants Inc.	1	22
	Fuel Systems Solutions Inc. (c) (e)	7	227
	Fuqi International Inc. (c) (e)	7	72
	Furniture Brands International Inc. (c) (e)	23	146
	Gaiam Inc. (c)	8	66
	Gaylord Entertainment Co. (c) (e)	21	622
	Genesco Inc. (c)	13	399
	G-III Apparel Group Ltd. (c) (e)	8	226
	Global Sources Ltd. (c)	8	54
	Grand Canyon Education Inc. (c) (e)	9	225
	Great Wolf Resorts Inc. (c)	11	36
	Group 1 Automotive Inc. (c) (e)	14	433
	Gymboree Corp. (c)	16	813
	Harte-Hanks Inc.	20	262
	Haverty Furniture Cos. Inc.	10	167
	Hawk Corp. (c)	2	48
	Helen of Troy Ltd. (c)	17	438
	hhgregg Inc. (c) (e)	7	178
	Hibbett Sports Inc. (c) (e)	15	396
	Hooker Furniture Corp.	5	83
	HOT Topic Inc. (c)	27	174
	Hovnanian Enterprises Inc. - Class A (c) (e)	25	107
	HSN Inc. (c)	22	633
	Iconix Brand Group Inc. (c)	39	594
	Interval Leisure Group Inc. (c)	22	316
	iRobot Corp. (c) (e)	11	166
	Isle of Capri Casinos Inc. (c) (e)	8	61
	J Crew Group Inc. (c)	27	1,237
	Jack in the Box Inc. (c)	31	726
	Jackson Hewitt Tax Service Inc. (c) (e)	15	29
	Jakks Pacific Inc. (c)	17	217
	Jo-Ann Stores Inc. (c)	14	601
	Jones Apparel Group Inc.	46	874
	Jos. A. Bank Clothiers Inc. (c)	10	543
	Journal Communications Inc. - Class A (c)	27	114
	K12 Inc. (c) (e)	14	301
	Kenneth Cole Productions Inc. (c)	5	65
	Kirkland's Inc. (c)	6	136
	Knology Inc. (c)	17	230
	Krispy Kreme Doughnuts Inc. (c)	38	154
	K-Swiss Inc. - Class A (c)	12	129
	Lakes Entertainment Inc. (c)	8	19
	Landry's Restaurants Inc. (c)	4	77
	La-Z-Boy Inc. (c) (e)	28	352
	Leapfrog Enterprises Inc. (c)	18	115
	Learning Tree International Inc. (c) (e)	5	69
	Life Time Fitness Inc. (c) (e)	22	612
	LIN TV Corp. (c)	17	96
	Lincoln Educational Services Corp. (c)	6	141
	Lithia Motors Inc. - Class A (c)	16	103
	Live Nation Inc. (c)	75	1,084
	Liz Claiborne Inc. (c) (e)	54	401
	LodgeNet Interactive Corp. (c) (e)	13	92
	Luby's Inc. (c)	10	41
	Lululemon Athletica Inc. (c) (e)	22	910
	Lumber Liquidators Holdings Inc. (c)	8	204
	M/I Homes Inc. (c)	11	157
	Mac-Gray Corp. (c)	6	69
	Maidenform Brands Inc. (c)	10	210
	Marcus Corp.	12	153
	Marine Products Corp. (c) (e)	5	32
	Martha Stewart Living Omnimedia Inc. (c) (e)	14	76
	Matthews International Corp. - Class A (e)	16	585
	McCormick & Schmick's Seafood Restaurants Inc. (c)	7	66
	Mediacom Communications Corp. (c)	24	145
	Men's Wearhouse Inc.	28	673
	Meritage Homes Corp. (c)	17	349
	Midas Inc. (c)	7	81
	Modine Manufacturing Co. (c)	26	296
	Monarch Casino & Resort Inc. (c)	5	43
	Monro Muffler Brake Inc.	9	307
	Morgans Hotel Group Co. (c) (e)	13	83
	Movado Group Inc. (c)	8	93
	Multimedia Games Inc. (c)	14	55
	National CineMedia Inc.	22	386
	National Presto Industries Inc.	3	309
	New York & Co. Inc. (c)	11	55
	NIVS IntelliMedia Technology Group Inc. (c)	4	15
	Nobel Learning Communities Inc. (c)	2	15
	NutriSystem Inc. (e)	16	279
	O'Charley's Inc. (c)	9	82
	OfficeMax Inc. (c)	42	697
	Orbitz Worldwide Inc. (c)	20	142
	Orient-Express Hotels Ltd. (c)	49	696
	Outdoor Channel Holdings Inc. (c)	6	43
	Overstock.com Inc. (c) (e)	7	120
	Oxford Industries Inc.	7	134
	Pacific Sunwear of California Inc. (c)	39	209
	Papa John's International Inc. (c)	12	306
	Peets Coffee & Tea Inc. (c)	6	228
	PEP Boys-Manny Moe & Jack	28	282
	Perry Ellis International Inc. (c)	6	132
	PetMed Express Inc. (e)	13	284
	PF Chang's China Bistro Inc. (c) (e)	13	567
	Pier 1 Imports Inc. (c)	61	389
	Pinnacle Entertainment Inc. (c)	31	300
	Playboy Enterprises Inc. - Class B (c)	12	44
	Polaris Industries Inc.	16	844
	Pool Corp.	26	593
	Pre-Paid Legal Services Inc. (c) (e)	3	130
	PRIMEDIA Inc.	12	42
	Princeton Review Inc. (c)	7	23
	Quicksilver Inc. (c)	74	348
	Raser Technologies Inc. (c) (e)	43	42
	RC2 Corp. (c)	11	170
	RCN Corp. (c)	20	305
	Reading International Inc. - Class A (c) (e)	8	34
	Red Lion Hotels Corp. (c)	10	75
	Red Robin Gourmet Burgers Inc. (c)	9	213
	Regis Corp.	31	579
	Rent-A-Center Inc. (c)	37	865
	Rentrak Corp. (c)	5	106
	Retail Ventures Inc. (c)	15	146
	Ruby Tuesday Inc. (c)	34	357
	Rue21 Inc. (c)	4	149
	Ruth's Hospitality Group Inc. (c)	26	139
	Ryland Group Inc.	23	523
	Saks Inc. (c) (e)	66	572
	Sally Beauty Holdings Inc. (c)	53	473
	Scholastic Corp.	12	335
	Sealy Corp. (c)	23	79
	Shoe Carnival Inc. (c)	4	98
	Shuffle Master Inc. (c)	31	255
	Shutterfly Inc. (c)	11	270
	Sinclair Broadcast Group Inc. - Class A (c)	28	142
	Skechers U.S.A. Inc. - Class A (c) (e)	18	652
	Skyline Corp.	3	60
	Smith & Wesson Holding Corp. (c) (e)	32	120
	Sonic Automotive Inc. (c)	16	179
	Sonic Corp. (c)	35	382
	Sotheby's - Class A	36	1,118
	Spartan Motors Inc.	21	117
	Speedway Motorsports Inc.	6	99
	Sport Supply Group Inc.	4	55
	Stage Stores Inc.	21	322
	Standard Motor Products Inc. (c)	14	135
	Standard-Pacific Corp. (c)	58	263
	Stanley Furniture Co. Inc. (c)	5	46
	Steak n Shake Co. (c)	1	241
	Stein Mart Inc. (c)	12	109
	Steiner Leisure Ltd. (c) (e)	8	333
	Steinway Musical Instruments Inc. (c)	4	72
	Steven Madden Ltd. (c)	8	413
	Stewart Enterprises Inc. - Class A (e)	47	291
	Stoneridge Inc. (c)	7	72
	Sturm Ruger & Co. Inc. (e)	10	116
	Superior Industries International Inc.	13	209
	Syms Corp. (c)	3	32
	Systemax Inc.	5	114
	Talbots Inc. (c) (e)	12	155
	Tempur-Pedic International Inc. (c)	40	1,211
	Tenneco Inc. (c)	31	743
	Texas Roadhouse Inc. - Class A (c) (e)	27	377
	Timberland Co. - Class A (c)	23	491
	Town Sports International Holdings Inc. (c)	10	37
	Tractor Supply Co. (c)	19	1,118
	True Religion Apparel Inc. (c)	14	421
	Tuesday Morning Corp. (c)	14	95
	Tupperware Brands Corp.	34	1,657
	U.S. Auto Parts Network Inc. (c) (e)	5	34
	Ulta Salon Cosmetics & Fragrance Inc. (c)	14	325
	Under Armour Inc. - Class A (c) (e)	18	529
	Unifi Inc. (c)	22	79
	UniFirst Corp.	8	411
	Universal Electronics Inc. (c)	7	153
	Universal Technical Institute Inc. (c)	11	251
	Universal Travel Group (c)	10	99
	Vail Resorts Inc. (c)	16	638
	Valassis Communications Inc. (c)	26	722
	Value Line Inc.	1	13
	Vitacost.com Inc. (c)	5	64
	Vitamin Shoppe Inc. (c)	6	131
	Volcom Inc. (c)	11	207
	Warnaco Group Inc. (c)	25	1,172
	West Marine Inc. (c)	6	69
	Wet Seal Inc. (c)	54	257
	Weyco Group Inc.	3	74
	Winnebago Industries Inc. (c)	17	248
	Wolverine World Wide Inc.	27	773
	Wonder Auto Technology Inc. (c) (e)	12	132
	World Wrestling Entertainment Inc.	12	205
	Youbet.com Inc. (c)	19	55
	Zale Corp. (c) (e)	13	35
	Zumiez Inc. (c) (e)	11	233
			82,761
CONSUMER STAPLES - 3.0%
	AgFeed Industries Inc. (c) (e)	19	84
	Alico Inc. (e)	2	40
	Alliance One International Inc. (c) (e)	48	243
	American Dairy Inc. (c) (e)	5	100
	American Italian Pasta Co. (c)	11	430
	American Oriental Bioengineering Inc. (c) (e)	30	122
	Andersons Inc.	10	325
	Arden Group Inc. - Class A	1	60
	B&G Foods Inc.	16	165
	Boston Beer Co. Inc. - Class A (c)	5	248
	Calavo Growers Inc.	5	86
	Cal-Maine Foods Inc.	8	265
	Casey's General Stores Inc. (e)	28	884
	Central Garden & Pet Co. - Class A (c)	31	280
	China Sky One Medical Inc. (c) (e)	5	76
	China-Biotics Inc. (c)	7	119
	Chiquita Brands International Inc. (c)	24	383
	Coca-Cola Bottling Co. Consolidated	3	151
	Darling International Inc. (c)	47	418
	Diamond Foods Inc.	9	393
	Diedrich Coffee Inc. (c)	1	47
	Dole Food Co. Inc. (c) (e)	20	236
	Elizabeth Arden Inc. (c)	13	234
	Farmer Bros. Co.	3	58
	Female Health Co. (c)	7	51
	Fresh Del Monte Produce Inc. (c)	22	453
	Great Atlantic & Pacific Tea Co. (c) (e)	18	136
	Griffin Land & Nurseries Inc.	2	44
	Hain Celestial Group Inc. (c)	22	386
	Harbinger Group Inc. (c)	4	26
	Heckmann Corp. (c)	49	283
	HQ Sustainable Maritime Industries Inc. (c)	4	26
	Imperial Sugar Co.	9	134
	Ingles Markets Inc. - Class A	7	111
	Inter Parfums Inc.	8	117
	J&J Snack Foods Corp.	8	351
	Lancaster Colony Corp.	10	612
	Lance Inc.	16	366
	Lifeway Foods Inc. (c)	2	26
	Mannatech Inc. (e)	7	24
	Medifast Inc. (c)	7	169
	Nash Finch Co.	7	225
	National Beverage Corp.	5	56
	Nu Skin Enterprises Inc. (e)	27	798
	Nutraceutical International Corp. (c)	5	72
	Oil-Dri Corp. of America	2	44
	Omega Protein Corp. (c) (e)	10	56
	Orchids Paper Products Co. (c) (e)	3	53
	Overhill Farms Inc. (c)	7	41
	Pantry Inc. (c)	13	159
	Prestige Brands Holdings Inc. (c)	17	157
	PriceSmart Inc.	9	202
	Revlon Inc. (c) (e)	11	169
	Ruddick Corp. (e)	23	734
	Sanderson Farms Inc.	11	590
	Schiff Nutrition International Inc.	9	74
	Seneca Foods Corp. (c)	5	148
	Smart Balance Inc. (c)	35	229
	Spartan Stores Inc.	13	181
	Star Scientific Inc. (c) (e)	63	160
	Susser Holdings Corp. (c)	3	28
	Synutra International Inc. (c) (e)	10	223
	Tootsie Roll Industries Inc. (e)	14	381
	TreeHouse Foods Inc. (c)	17	738
	United Natural Foods Inc. (c)	23	645
	Universal Corp.	14	732
	USANA Health Sciences Inc. (c) (e)	3	93
	Vector Group Ltd. (e)	22	342
	Village Super Market Inc.	3	79
	WD-40 Co.	8	278
	Weis Markets Inc.	6	217
	Winn-Dixie Stores Inc. (c) (e)	31	387
	Zhongpin Inc. (c)	15	185
			17,238
ENERGY - 4.8%
	Allis-Chalmers Energy Inc. (c)	31	111
	Alon USA Energy Inc. (e)	5	33
	Apco Oil And Gas International Inc.	5	127
	Approach Resources Inc. (c)	9	79
	Arena Resources Inc. (c) (e)	21	710
	Atlas Energy Inc. (c)	36	1,126
	ATP Oil & Gas Corp. (c)	22	407
	Basic Energy Services Inc. (c)	12	92
	Berry Petroleum Co. - Class A (e)	27	768
	Bill Barrett Corp. (c) (e)	21	636
	Bolt Technology Corp. (c)	5	52
	Boots & Coots Inc. (c)	49	118
	BPZ Resources Inc. (c) (e)	52	385
	Brigham Exploration Co. (c)	55	873
	Bristow Group Inc. (c)	20	751
	Bronco Drilling Co. Inc. (c) (e)	12	57
	Cal Dive International Inc. (c)	24	179
	CARBO Ceramics Inc.	10	649
	Carrizo Oil & Gas Inc. (c) (e)	15	349
	Cheniere Energy Inc. (c) (e)	33	101
	Clayton Williams Energy Inc. (c)	3	96
	Clean Energy Fuels Corp. (c) (e)	19	431
	Cloud Peak Energy Inc. (c)	17	281
	Complete Production Services Inc. (c)	31	356
	Contango Oil & Gas Co. (c)	7	339
	CREDO Petroleum Corp. (c) (e)	3	31
	Crosstex Energy Inc. (c)	23	196
	Cubic Energy Inc. (c) (e)	12	13
	CVR Energy Inc. (c)	11	97
	Dawson Geophysical Co. (c)	4	115
	Delek US Holdings Inc.	6	41
	Delta Petroleum Corp. (c) (e)	90	126
	DHT Maritime Inc.	31	123
	Dril-Quip Inc. (c)	16	977
	Endeavour International Corp. (c)	86	109
	ENGlobal Corp. (c)	14	38
	Evergreen Energy Inc. (c) (e)	25	5
	FX Energy Inc. (c)	25	84
	General Maritime Corp. (e)	27	197
	Geokinetics Inc. (c)	6	40
	GeoResources Inc. (c)	5	70
	Global Industries Ltd. (c)	53	339
	GMX Resources Inc. (c) (e)	19	154
	Golar LNG Ltd. (c)	18	211
	Goodrich Petroleum Corp. (c) (e)	13	196
	Gran Tierra Energy Inc. (c)	108	638
	Green Plains Renewable Energy Inc. (c)	4	61
	Gulf Island Fabrication Inc.	6	137
	Gulfmark Offshore Inc. (c)	13	344
	Gulfport Energy Corp. (c)	13	149
	Harvest Natural Resources Inc. (c)	17	130
	Hercules Offshore Inc. (c)	63	272
	Hornbeck Offshore Services Inc. (c)	12	218
	International Coal Group Inc. (c)	57	259
	ION Geophysical Corp. (c) (e)	55	272
	Isramco Inc. (c)	-	30
	James River Coal Co. (c)	14	225
	Key Energy Services Inc. (c)	67	637
	Knightsbridge Tankers Ltd.	8	144
	Lufkin Industries Inc.	8	656
	Matrix Service Co. (c)	15	159
	McMoRan Exploration Co. (c)	41	599
	Natural Gas Services Group Inc. (c)	8	134
	Newpark Resources Inc. (c)	48	250
	Nordic American Tanker Shipping Ltd. (e)	25	765
	Northern Oil and Gas Inc. (c)	20	320
	Oilsands Quest Inc. (c)	119	88
	OYO Geospace Corp. (c)	2	99
	Panhandle Oil and Gas Inc.	3	82
	Parker Drilling Co. (c)	66	326
	Patriot Coal Corp. (c) (e)	40	815
	Penn Virginia Corp.	25	601
	Petroleum Development Corp. (c)	10	234
	PetroQuest Energy Inc. (c) (e)	27	136
	PHI Inc. (c)	6	133
	Pioneer Drilling Co. (c)	27	193
	PrimeEnergy Corp. (c)	-	7
	Rex Energy Corp. (c)	17	194
	Rex Stores Corp. (c)	4	69
	Rosetta Resources Inc. (c)	28	665
	RPC Inc. (e)	15	170
	Ship Finance International Ltd. (e)	24	431
	Stone Energy Corp. (c) (e)	22	392
	Sulphco Inc. (c) (e)	31	8
	Superior Well Services Inc. (c) (e)	10	132
	Swift Energy Co. (c)	20	621
	Syntroleum Corp. (c)	33	70
	T-3 Energy Services Inc. (c)	6	155
	Teekay Tankers Ltd. (e)	6	72
	Tetra Technologies Inc. (c)	40	486
	TGC Industries Inc. (c)	6	24
	Toreador Resources Corp. (c) (e)	15	119
	Union Drilling Inc. (c)	7	41
	Uranerz Energy Corp. (c) (e)	39	72
	Uranium Energy Corp. (c) (e)	32	102
	USEC Inc. (c)	61	353
	VAALCO Energy Inc.	28	139
	Vantage Drilling Co. (c)	40	59
	Venoco Inc. (c)	10	127
	W&T Offshore Inc.	17	143
	Warren Resources Inc. (c)	39	99
	Western Refining Inc. (c) (e)	22	121
	Westmoreland Coal Co. (c)	5	67
	Willbros Group Inc. (c)	20	244
	World Fuel Services Corp. (e)	31	837
	Zion Oil & Gas Inc. (c) (e)	6	40
			27,433
FINANCIALS - 20.2%
	1st Source Corp.	7	124
	Abington Bancorp Inc.	11	86
	Acadia Realty Trust	22	402
	Advance America Cash Advance Centers Inc.	23	136
	Agree Realty Corp.	4	87
	Alexander's Inc. (c)	1	350
	Alliance Financial Corp. (e)	2	53
	Allied Capital Corp. (c)	95	470
	Ambac Financial Group Inc. (c) (e)	132	74
	American Campus Communities Inc. (e)	28	777
	American Capital Agency Corp. (e)	9	231
	American Capital Ltd. (c)	151	768
	American Equity Investment Life Holding Co. (e)	30	323
	American National Bankshares Inc. (e)	3	54
	American Physicians Capital Inc.	4	143
	American Physicians Service Group Inc.	3	68
	American Realty Investors Inc. (c) (e)	1	13
	American Safety Insurance Holdings Ltd. (c)	5	83
	Ameris Bancorp (e)	7	59
	Amerisafe Inc. (c)	11	173
	Ames National Corp. (e)	3	61
	AmTrust Financial Services Inc.	12	173
	Anworth Mortgage Asset Corp.	61	413
	Apollo Commercial Real Estate Finance Inc. (c)	6	111
	Apollo Investment Corp.	95	1,203
	Ares Capital Corp. (e)	70	1,044
	Argo Group International Holdings Ltd. (c)	17	539
	Arrow Financial Corp. (e)	4	119
	Artio Global Investors Inc. (c)	15	363
	Ashford Hospitality Trust Inc. (c) (e)	32	230
	Asset Acceptance Capital Corp. (c) (e)	7	41
	Associated Estates Realty Corp.	12	172
	Assured Guaranty Ltd.	68	1,484
	Astoria Financial Corp. (e)	47	675
	Auburn National Bancorporation Inc. (e)	1	22
	Avatar Holdings Inc. (c)	3	73
	Baldwin & Lyons Inc. - Class B	4	91
	BancFirst Corp.	3	140
	Banco Latinoamericano de Comercio Exterior SA	15	216
	Bancorp Inc. (c)	12	108
	Bancorp Rhode Island Inc. (e)	2	44
	Bank Mutual Corp.	26	171
	Bank of Kentucky Financial Corp. (e)	1	27
	Bank of Marin Bancorp. (e)	3	89
	Bank of the Ozarks Inc.	8	275
	BankFinancial Corp.	10	92
	Banner Corp. (e)	8	32
	Bar Harbor Bankshares (e)	1	39
	Beneficial Mutual Bancorp Inc. (c)	19	178
	Berkshire Hills Bancorp Inc.	8	143
	BGC Partners Inc.	27	162
	BioMed Realty Trust Inc.	54	897
	BlackRock Kelso Capital Corp.	7	69
	Boston Private Financial Holdings Inc. (e)	40	295
	Bridge Bancorp Inc. (e)	3	76
	Broadpoint Gleacher Securities Inc. (c) (e)	27	109
	Brookline Bancorp Inc.	34	366
	Brooklyn Federal BanCorp Inc.	1	8
	Bryn Mawr Bank Corp.	3	59
	Calamos Asset Management Inc.	10	140
	California First National Bancorp.	1	12
	Camden National Corp.	4	116
	Cape Bancorp Inc. (c) (e)	5	42
	Capital City Bank Group Inc. (e)	5	76
	Capital Southwest Corp.	1	127
	CapLease Inc. (e)	32	176
	Capstead Mortgage Corp.	37	437
	Cardinal Financial Corp.	16	174
	Cardtronics Inc. (c)	6	76
	Cash America International Inc.	16	630
	Cathay General Bancorp (e)	43	504
	CBL & Associates Properties Inc.	76	1,042
	Cedar Shopping Centers Inc.	25	196
	Center Bancorp Inc.	5	45
	CenterState Banks of Florida Inc.	11	132
	Central Pacific Financial Corp. (c) (e)	30	50
	Century Bancorp. Inc. - Class A (e)	2	30
	Chemical Financial Corp.	12	284
	Cheviot Financial Corp. (e)	1	12
	Chicopee Bancorp Inc. (c)	3	36
	China Housing & Land Development Inc. (c) (e)	11	43
	Citizens & Northern Corp.	6	72
	Citizens Holding Co. (e)	2	42
	Citizens Inc. (c) (e)	17	118
	Citizens Republic Bancorp Inc. (c)	59	69
	City Holdings Co. (e)	9	322
	Clifton Savings Bancorp Inc. (e)	5	44
	CNA Surety Corp. (c)	10	180
	CNB Financial Corp. (e)	4	58
	CoBiz Financial Inc. (e)	18	114
	Cogdell Spencer Inc.	20	147
	Cohen & Steers Inc. (e)	9	233
	Colonial Properties Trust	36	465
	Colony Financial Inc.	9	174
	Columbia Banking System Inc.	16	333
	Community Bank System Inc. (e)	17	398
	Community Trust Bancorp Inc.	8	222
	Compass Diversified Holdings	13	205
	CompuCredit Holdings Corp. (e)	8	41
	Conseco Inc. (c)	135	843
	Consolidated-Tomoka Land Co. (e)	2	79
	Cousins Properties Inc.	42	347
	Cowen Group Inc. - Class A (c)	12	68
	Crawford & Co. - Class B (c)	11	46
	Credit Acceptance Corp. (c) (e)	3	118
	CreXus Investment Corp. (c)	9	123
	CVB Financial Corp. (e)	47	463
	Cypress Sharpridge Investments Inc.	9	120
	Danvers BanCorp Inc. (e)	12	168
	DCT Industrial Trust Inc.	111	579
	Delphi Financial Group Inc.	25	630
	Developers Diversified Realty Corp.	110	1,339
	Diamond Hill Investment Group Inc.	1	83
	DiamondRock Hospitality Co. (c)	67	680
	Dime Community Bancshares Inc.	15	195
	Dollar Financial Corp. (c)	13	321
	Donegal Group Inc.	5	76
	Doral Financial Corp. (c)	2	7
	Duff & Phelps Corp. - Class A	8	137
	DuPont Fabros Technology Inc.	15	327
	Dynex Capital Inc.	7	66
	E*Trade Financial Corp. (c)	865	1,428
	Eagle Bancorp Inc. (c)	7	78
	East West Bancorp Inc.	60	1,037
	Eastern Insurance Holdings Inc.	3	35
	EastGroup Properties Inc.	14	516
	Education Realty Trust Inc.	30	173
	eHealth Inc. (c)	14	214
	EMC Insurance Group Inc.	3	58
	Employer Holdings Inc.	23	342
	Encore Capital Group Inc. (c)	7	112
	Enstar Group Ltd. (c)	3	239
	Enterprise Bancorp Inc. (e)	2	28
	Enterprise Financial Services Corp. (e)	5	58
	Entertainment Properties Trust	23	955
	Epoch Holding Corp.	6	66
	Equity Lifestyle Properties Inc.	14	757
	Equity One Inc. (e)	18	339
	ESB Financial Corp. (e)	5	63
	ESSA BanCorp Inc.	8	104
	Evercore Partners Inc. - Class A (e)	8	241
	Extra Space Storage Inc.	48	612
	EZCORP Inc. - Class A (c)	24	491
	Farmers Capital Bank Corp.	3	25
	FBL Financial Group Inc. - Class A (e)	7	174
	FBR Capital Markets Corp. (c)	9	43
	FelCor Lodging Trust Inc. (c)	32	181
	Fifth Street Finance Corp. (e)	22	254
	Financial Institutions Inc.	5	74
	First Acceptance Corp. (c)	9	18
	First Bancorp Inc. (e)	11	159
	First Bancorp Inc. Puerto Rico (e)	55	131
	First Busey Corp.	25	113
	First California Financial Group Inc. (c)	3	7
	First Cash Financial Services Inc. (c)	13	271
	First Commonwealth Financial Corp.	48	320
	First Community Bancshares Inc.	7	88
	First Defiance Financial Corp. (e)	4	36
	First Financial Bancorp	32	561
	First Financial Bankshares Inc. (e)	11	574
	First Financial Corp. (e)	7	190
	First Financial Holdings Inc.	8	122
	First Financial Northwest Inc.	10	65
	First Financial Service Corp. (e)	2	16
	First Industrial Realty Trust Inc. (c)	30	232
	First Marblehead Corp. (c)	33	93
	First Merchants Corp.	12	85
	First Mercury Financial Corp.	7	96
	First Midwest Bancorp Inc.	39	534
	First of Long Island Corp. (e)	3	69
	First Potomac Realty Trust	17	251
	First South Bancorp Inc. (e)	4	49
	FirstMerit Corp. (e)	45	961
	Flagstar Bancorp Inc. (c) (e)	17	10
	Flagstone Reinsurance Holdings Ltd.	23	261
	Flushing Financial Corp.	16	200
	FNB Corp.	63	507
	Forestar Group Inc. (c) (e)	20	384
	Fox Chase Bancorp Inc. (c)	2	27
	FPIC Insurance Group Inc. (c)	5	144
	Franklin Street Properties Corp.	36	524
	GAMCO Investors Inc.	4	164
	German American Bancorp Inc. (e)	6	83
	Getty Realty Corp.	10	226
	GFI Group Inc.	38	219
	Glacier Bancorp Inc.	34	513
	Gladstone Capital Corp.	13	155
	Gladstone Commercial Corp.	4	54
	Gladstone Investment Corp.	11	64
	Glimcher Realty Trust	34	173
	Government Properties Income Trust (e)	10	254
	Gramercy Capital Corp. (c) (e)	22	62
	Great Southern Bancorp Inc. (e)	5	116
	Greenlight Capital Re Ltd. (c)	16	426
	Guaranty Bancorp (c)	25	40
	Hallmark Financial Services Inc. (c)	4	38
	Hampton Roads Bankshares Inc. (e)	8	12
	Hancock Holding Co.	15	643
	Harleysville Group Inc.	7	239
	Harleysville National Corp.	21	138
	Harris & Harris Group Inc. (c)	15	69
	Hatteras Financial Corp. (e)	19	499
	Healthcare Realty Trust Inc.	32	746
	Heartland Financial USA Inc. (e)	6	99
	Hercules Technology Growth Capital Inc.	20	210
	Heritage Financial Corp. (c)	2	38
	Heritage Financial Group	1	12
	Hersha Hospitality Trust	56	291
	Highwoods Properties Inc.	38	1,206
	Hilltop Holdings Inc. (c)	23	269
	Home Bancorp Inc. (c)	4	55
	Home Bancshares Inc.	10	277
	Home Federal Bancorp Inc.	9	126
	Home Properties Inc.	19	898
	Horace Mann Educators Corp.	22	325
	IberiaBank Corp.	12	695
	Independence Holding Co.	4	35
	Independent Bank Corp.	-	-
	Independent Bank Corp. (e)	12	288
	Infinity Property & Casualty Corp.	8	342
	Inland Real Estate Corp.	39	353
	International Assets Holding Corp. (c)	6	91
	International Bancshares Corp.	28	653
	Invesco Mortgage Capital Inc.	10	227
	Investors Bancorp Inc. (c)	27	362
	Investors Real Estate Trust	40	356
	iStar Financial Inc. (c) (e)	50	231
	JMP Group Inc.	9	73
	Kansas City Life Insurance Co.	2	68
	Kayne Anderson Energy Development Co.	7	109
	KBW Inc. (c)	18	495
	Kearny Financial Corp.	9	89
	Kentucky First Federal Bancorp. (e)	1	15
	K-Fed Bancorp. (e)	2	16
	Kilroy Realty Corp.	24	739
	Kite Realty Group Trust	29	136
	Knight Capital Group Inc. (c)	52	785
	Kohlberg Capital Corp. (e)	10	54
	LaBranche & Co. Inc. (c)	26	137
	Lakeland Bancorp Inc.	10	85
	Lakeland Financial Corp.	8	160
	LaSalle Hotel Properties	35	823
	Legacy Bancorp Inc.	3	31
	Lexington Realty Trust (e)	52	337
	Life Partners Holdings Inc. (e)	3	73
	LTC Properties Inc.	13	357
	Maiden Holdings Ltd.	27	201
	Main Street Capital Corp. (e)	6	100
	MainSource Financial Group Inc. (e)	9	62
	MarketAxess Holdings Inc.	17	268
	Max Capital Group Ltd.	25	574
	MB Financial Inc.	27	617
	MCG Capital Corp. (c)	37	192
	Meadowbrook Insurance Group Inc.	33	264
	Medallion Financial Corp.	7	57
	Medical Properties Trust Inc.	44	457
	Mercer Insurance Group Inc.	2	44
	Merchants Bancshares Inc.	2	46
	Meridian Interstate BanCorp Inc. (c)	4	45
	Metro Bancorp Inc. (c)	4	57
	MF Global Holdings Ltd. (c)	53	427
	MFA Financial Inc.	150	1,107
	MGIC Investment Corp. (c) (e)	67	736
	Mid-America Apartment Communities Inc.	16	810
	Midsouth Bancorp Inc.	3	46
	Mission West Properties Inc.	12	80
	Monmouth Real Estate Investment Corp.	11	92
	Montpelier Re Holdings Ltd.	43	728
	MVC Capital Inc. (e)	11	146
	Nara Bancorp Inc. (c)	19	168
	NASB Financial Inc. (e)	2	45
	National Bankshares Inc.	4	98
	National Financial Partners Corp. (c)	23	320
	National Health Investors Inc.	14	538
	National Interstate Corp.	3	58
	National Penn Bancshares Inc.	69	478
	National Retail Properties Inc. (e)	44	1,008
	National Western Life Insurance Co.	1	204
	Navigators Group Inc. (c)	7	262
	NBT Bancorp Inc.	19	431
	Nelnet Inc. - Class A	11	201
	NewAlliance Bancshares Inc. (e)	60	757
	NewStar Financial Inc. (c)	13	84
	NGP Capital Resources Co.	11	97
	Northeast Community Bancorp Inc. (e)	3	19
	Northfield Bancorp Inc. (e)	11	158
	Northrim BanCorp Inc.	3	48
	NorthStar Realty Finance Corp. (e)	41	171
	Northwest Bancshares Inc.	21	247
	Norwood Financial Corp.	1	23
	NYMAGIC Inc.	2	49
	OceanFirst Financial Corp.	6	66
	Ocwen Financial Corp. (c)	33	369
	Ohio Valley Banc Corp. (e)	2	38
	Old National Bancorp	48	568
	Old Point Financial Corp.	1	14
	Old Second Bancorp Inc. (e)	7	48
	Omega Healthcare Investors Inc.	46	888
	Oppenheimer Holdings Inc.	6	148
	optionsXpress Holdings Inc. (c)	24	389
	Oriental Financial Group Inc.	15	208
	Oritani Financial Corp.	5	84
	Orrstown Financial Services Inc.	3	67
	Pacific Capital Bancorp (c) (e)	35	63
	Pacific Continental Corp.	8	82
	PacWest Bancorp	16	356
	Park National Corp. (e)	6	398
	Parkway Properties Inc.	12	227
	Peapack Gladstone Financial Corp. (e)	4	65
	PennantPark Investment Corp.	16	165
	Penns Woods Bancorp Inc. (e)	2	56
	Pennsylvania Real Estate Investment Trust (e)	21	256
	Pennymac Mortgage Investment Trust (c)	8	130
	Penson Worldwide Inc. (c) (e)	9	92
	Peoples Bancorp Inc.	5	80
	Peoples Financial Corp.	2	25
	PHH Corp. (c) (e)	29	692
	Phoenix Cos. Inc. (c)	60	146
	Pico Holdings Inc. (c)	12	458
	Pinnacle Financial Partners Inc. (c)	19	293
	Piper Jaffray Cos. (c)	11	431
	Platinum Underwriters Holdings Ltd.	27	1,019
	PMA Capital Corp. (c)	15	91
	PMI Group Inc. (c) (e)	49	267
	Porter Bancorp Inc. (e)	1	17
	Portfolio Recovery Associates Inc. (c) (e)	9	490
	Post Properties Inc.	26	562
	Potlatch Corp.	21	751
	PremierWest Bancorp (c) (e)	45	20
	Presidential Life Corp.	10	95
	Primus Guaranty Ltd. (c) (e)	12	49
	PrivateBancorp Inc.	29	397
	ProAssurance Corp. (c)	18	1,040
	Prospect Capital Corp. (e)	34	415
	Prosperity Bancshares Inc. (e)	25	1,019
	Provident Financial Services Inc.	33	394
	Provident New York Bancorp	18	175
	Prudential Bancorp Inc. of Pennsylvania (e)	2	15
	PS Business Parks Inc.	10	513
	Pzena Investment Management Inc. (c) (e)	4	30
	QC Holdings Inc.	2	9
	Radian Group Inc. (e)	47	729
	RAIT Financial Trust (c) (e)	60	118
	Ramco-Gershenson Properties Trust	14	159
	Redwood Trust Inc.	42	646
	Renasant Corp. (e)	12	196
	Republic Bancorp Inc. - Class A	4	83
	Republic First Bancorp Inc. (c)	3	13
	Resource America Inc. - Class A	6	28
	Resource Capital Corp.	20	138
	Rewards Network Inc.	3	38
	RiskMetrics Group Inc. (c) (e)	12	282
	RLI Corp. (e)	10	567
	Rockville Financial Inc. (e)	4	47
	Roma Financial Corp.	4	54
	S&T Bancorp Inc. (e)	14	294
	Safeguard Scientifics Inc. (c)	12	153
	Safety Insurance Group Inc.	8	288
	Sanders Morris Harris Group Inc.	9	55
	Sandy Spring Bancorp Inc. (e)	8	117
	Santander BanCorp (c)	2	28
	Saul Centers Inc.	3	137
	SCBT Financial Corp. (e)	7	265
	SeaBright Insurance Holdings Inc. (c)	10	112
	Selective Insurance Group	28	463
	Shore Bancshares Inc.	5	65
	Sierra Bancorp (e)	4	54
	Signature Bank (c) (e)	23	841
	Simmons First National Corp. - Class A	9	259
	Smithtown Bancorp Inc. (e)	12	49
	South Financial Group Inc.	65	45
	Southside Bancshares Inc. (e)	7	158
	Southwest Bancorp Inc.	9	77
	Sovran Self Storage Inc.	15	514
	Starwood Property Trust Inc.	25	481
	State Auto Financial Corp.	7	121
	State Bancorp. Inc.	7	59
	StellarOne Corp.	12	164
	Sterling Bancorp - NYS	12	118
	Sterling Bancshares Inc.	47	261
	Sterling Financial Corp. / WA (c) (e)	26	15
	Stewart Information Services Corp.	10	139
	Stifel Financial Corp. (c)	17	894
	Strategic Hotels & Resorts Inc. (c) (e)	54	229
	Suffolk Bancorp (e)	5	162
	Sun Bancorp Inc. (c)	6	25
	Sun Communities Inc.	9	234
	Sunstone Hotel Investors Inc. (c)	52	578
	Susquehanna Bancshares Inc.	50	489
	SVB Financial Group (c)	22	1,032
	SWS Group Inc.	15	178
	SY Bancorp Inc. (e)	6	147
	Tanger Factory Outlet Centers Inc.	22	961
	Tejon Ranch Co. (c) (e)	5	166
	Territorial Bancorp Inc. (c)	6	122
	Teton Advisors Inc. - Class A	-	-
	Texas Capital Bancshares Inc. (c)	19	363
	Thomas Weisel Partners Group Inc. (c)	10	39
	TICC Capital Corp.	12	77
	Tompkins Financial Corp.	6	204
	Tower Bancorp Inc. (e)	2	66
	Tower Group Inc.	24	528
	TowneBank (e)	10	139
	TradeStation Group Inc. (c)	21	145
	Transcontinental Realty Investors Inc. (c) (e)	1	9
	Tree.com Inc. (c) (e)	3	26
	Triangle Capital Corp. (e)	5	77
	Trico Bancshares (e)	7	130
	TrustCo Bank Corp. (e)	43	266
	Trustmark Corp. (e)	36	870
	U.S. Global Investors Inc. (e)	6	61
	UMB Financial Corp.	17	710
	UMH Properties Inc.	4	32
	Umpqua Holdings Corp.	52	688
	Union First Market Bankshares Corp.	10	150
	United America Indemnity Ltd. (c)	21	198
	United Bankshares Inc. (e)	20	537
	United Community Banks Inc. (c)	50	219
	United Financial Bancorp Inc.	9	124
	United Fire & Casualty Co.	12	216
	United Security Bancshares / AL (e)	3	41
	Universal Health Realty Income Trust	6	229
	Universal Insurance Holdings Inc. (e)	6	29
	Univest Corp. of Pennsylvania	8	147
	Urstadt Biddle Properties Inc. - Class A	12	182
	U-Store-It Trust	41	296
	ViewPoint Financial Group	5	79
	Virtus Investment Partners Inc. (c)	3	64
	Walter Investment Management Corp. (e)	13	216
	Washington Banking Co. (e)	5	65
	Washington Real Estate Investment Trust	32	984
	Washington Trust Bancorp Inc. (e)	7	123
	Waterstone Financial Inc. (c) (e)	3	11
	Webster Financial Corp.	37	649
	WesBanco Inc.	14	222
	West Bancorp Inc.	8	50
	Westamerica Bancorporation (e)	16	939
	Western Alliance Bancorp (c)	29	165
	Westfield Financial Inc.	15	139
	Westwood Holdings Group Inc.	3	97
	Wilber Corp. (e)	3	17
	Wilshire Bancorp Inc.	10	105
	Winthrop Realty Trust (e)	10	117
	Wintrust Financial Corp.	13	491
	World Acceptance Corp. (c) (e)	9	311
	WSFS Financial Corp. (e)	5	178
	Yadkin Valley Financial Corp.	8	33
	Zenith National Insurance Corp.	20	771
			115,225
HEALTH CARE - 13.8%
	Abaxis Inc. (c)	11	306
	Abiomed Inc. (c) (e)	15	157
	Accelrys Inc. (c)	15	94
	Accuray Inc. (c) (e)	22	137
	Acorda Therapeutics Inc. (c)	21	702
	Acura Pharmaceuticals Inc. (c) (e)	4	20
	Adolor Corp. (c)	21	38
	Affymax Inc. (c)	10	237
	Affymetrix Inc. (c)	39	288
	AGA Medical Holdings Inc. (c)	8	129
	Air Methods Corp. (c)	6	209
	Akorn Inc. (c) (e)	30	46
	Albany Molecular Research Inc. (c)	11	92
	Align Technology Inc. (c)	32	610
	Alkermes Inc. (c) (e)	51	663
	Alliance HealthCare Services Inc. (c)	12	69
	Allied Healthcare International Inc. (c)	20	54
	Allos Therapeutics Inc. (c) (e)	40	296
	Almost Family Inc. (c)	4	147
	Alnylam Pharmaceuticals Inc. (c)	20	348
	Alphatec Holdings Inc. (c) (e)	14	90
	AMAG Pharmaceuticals Inc. (c) (e)	11	387
	Amedisys Inc. (c) (e)	15	836
	America Service Group Inc.	4	59
	American Caresource Holdings Inc. (c)	5	9
	American Dental Partners Inc. (c)	8	103
	American Medical Systems Holdings Inc. (c)	40	739
	AMERIGROUP Corp. (c)	28	947
	AMICAS Inc. (c)	21	126
	Amicus Therapeutics Inc. (c)	7	21
	AMN Healthcare Services Inc. (c)	20	174
	Amsurg Corp. (c)	17	362
	Analogic Corp.	7	292
	AngioDynamics Inc. (c)	14	221
	Ardea Biosciences Inc. (c)	7	134
	Arena Pharmaceuticals Inc. (c) (e)	48	150
	Ariad Pharmaceuticals Inc. (c) (e)	60	203
	ArQule Inc. (c) (e)	20	112
	Array BioPharma Inc. (c)	26	71
	ARYx Therapeutics Inc. (c) (e)	9	8
	Assisted Living Concepts Inc. (c) (e)	6	197
	athenahealth Inc. (c) (e)	18	652
	Atrion Corp.	1	102
	ATS Medical Inc. (c)	25	65
	Auxilium Pharmaceuticals Inc. (c) (e)	26	798
	AVANIR Pharmaceuticals (c) (e)	32	74
	AVI BioPharma Inc. (c) (e)	55	65
	BioCryst Pharmaceuticals Inc. (c) (e)	16	103
	Biodel Inc. (c) (e)	10	45
	BioDelivery Sciences International Inc. (c)	4	16
	BioMimetic Therapeutics Inc. (c) (e)	7	93
	Bio-Reference Labs Inc. (c)	7	290
	BioScrip Inc. (c)	21	170
	BioSpecifics Technologies Corp. (c) (e)	2	45
	BMP Sunstone Corp. (c) (e)	15	76
	Bovie Medical Corp. (c) (e)	9	56
	Bruker Corp. (c)	26	381
	Cadence Pharmaceuticals Inc. (c) (e)	13	114
	Cambrex Corp. (c)	16	66
	Cantel Medical Corp.	8	153
	Capital Senior Living Corp. (c)	11	60
	Caraco Pharmaceutical Laboratories Ltd. (c)	5	31
	Cardiac Science Corp. (c)	11	20
	CardioNet Inc. (c)	13	96
	Cardiovascular Systems Inc. (c)	4	21
	Cardium Therapeutics Inc. (c) (e)	17	8
	Catalyst Health Solutions Inc. (c)	20	818
	Celera Corp. (c)	44	311
	Cell Therapeutics Inc. (c) (e)	244	132
	Celldex Therapeutics Inc. (c) (e)	14	86
	Centene Corp. (c)	26	623
	Cepheid Inc. (c) (e)	31	549
	Chelsea Therapeutics International Inc. (c) (e)	10	37
	Chemed Corp.	12	663
	Chindex International Inc. (c) (e)	9	101
	Clarient Inc. (c)	20	52
	Clinical Data Inc. (c)	7	144
	Computer Programs & Systems Inc. (e)	5	210
	Conceptus Inc. (c) (e)	17	346
	Conmed Corp. (c)	16	392
	Continucare Corp. (c)	13	46
	Cornerstone Therapeutics Inc. (c)	3	18
	Corvel Corp. (c)	3	118
	Cross Country Healthcare Inc. (c)	17	176
	CryoLife Inc. (c)	17	109
	Cubist Pharmaceuticals Inc. (c)	31	701
	Cumberland Pharmaceuticals Inc. (c)	5	51
	Curis Inc. (c) (e)	37	112
	Cutera Inc. (c) (e)	7	76
	Cyberonics Inc. (c)	15	292
	Cynosure Inc. (c) (e)	6	65
	Cypress Bioscience Inc. (c)	24	116
	Cytokinetics Inc. (c)	25	81
	Cytori Therapeutics Inc. (c) (e)	17	79
	Delcath Systems Inc. (c) (e)	21	171
	DepoMed Inc. (c)	34	122
	DexCom Inc. (c)	27	267
	Dionex Corp. (c)	10	714
	Discovery Laboratories Inc. (c) (e)	29	15
	Durect Corp. (c)	39	117
	Dyax Corp. (c) (e)	38	131
	Eclipsys Corp. (c)	30	604
	Electro-Optical Sciences Inc. (c) (e)	11	81
	Emergency Medical Services Corp. (c)	16	909
	Emergent BioSolutions Inc. (c)	10	166
	Emeritus Corp. (c) (e)	11	219
	Endologix Inc. (c) (e)	28	115
	Ensign Group Inc.	5	88
	EnteroMedics Inc. (c)	7	3
	Enzo Biochem Inc. (c)	21	125
	Enzon Pharmaceuticals Inc. (c) (e)	25	256
	eResearch Technology Inc. (c)	20	139
	ev3 Inc. (c)	40	638
	ExacTech Inc. (c)	4	80
	Exelixis Inc. (c)	60	367
	Facet Biotech Corp. (c)	14	382
	Genomic Health Inc. (c) (e)	8	149
	Genoptix Inc. (c) (e)	9	329
	Gentiva Health Services Inc. (c)	16	445
	Geron Corp. (c) (e)	49	279
	Greatbatch Inc. (c)	13	269
	GTx Inc. (c) (e)	9	30
	Haemonetics Corp. (c)	14	812
	Halozyme Therapeutics Inc. (c)	35	280
	Hanger Orthopedic Group Inc. (c)	15	266
	Hansen Medical Inc. (c) (e)	13	29
	Harvard Bioscience Inc. (c)	11	42
	Health Grades Inc. (c)	10	67
	HealthSouth Corp. (c) (e)	52	965
	HealthSpring Inc. (c)	27	468
	Healthways Inc. (c)	19	298
	HeartWare International Inc. (c)	4	175
	Hemispherx Biopharma Inc. (c) (e)	56	42
	Hi-Tech Pharmacal Co. Inc. (c)	6	129
	HMS Holdings Corp. (c)	14	705
	Human Genome Sciences Inc. (c)	100	3,015
	ICU Medical Inc. (c)	7	240
	Idenix Pharmaceuticals Inc. (c)	13	36
	Idera Pharmaceuticals Inc. (c)	10	60
	Immucor Inc. (c)	38	849
	Immunogen Inc. (c) (e)	30	240
	Immunomedics Inc. (c) (e)	33	109
	Impax Laboratories Inc. (c)	32	571
	Incyte Corp. (c) (e)	47	650
	Infinity Pharmaceuticals Inc. (c) (e)	8	48
	Insmed Inc. (c)	87	103
	Inspire Pharmaceuticals Inc. (c)	33	203
	Insulet Corp. (c) (e)	20	294
	Integra LifeSciences Holdings Corp. (c) (e)	11	466
	InterMune Inc. (c)	24	1,084
	Invacare Corp. (e)	15	405
	inVentiv Health Inc. (c)	17	385
	IPC The Hospitalist Co. Inc. (c)	9	324
	IRIS International Inc. (c)	8	86
	Isis Pharmaceuticals Inc. (c)	50	547
	Ista Pharmaceuticals Inc. (c)	17	71
	Javelin Pharmaceuticals Inc. (c)	46	59
	Kendle International Inc. (c)	9	151
	Kensey Nash Corp. (c)	4	91
	Kindred Healthcare Inc. (c)	21	385
	KV Pharmaceutical Co. - Class A (c) (e)	26	46
	Landauer Inc.	5	314
	Lannett Co. Inc. (c)	4	19
	LCA-Vision Inc. (c)	12	98
	Lexicon Pharmaceuticals Inc. (c)	52	78
	LHC Group Inc. (c)	9	293
	Ligand Pharmaceuticals Inc. - Class B (c)	53	93
	Luminex Corp. (c)	23	395
	Magellan Health Services Inc. (c)	19	826
	MAKO Surgical Corp. (c) (e)	9	117
	MannKind Corp. (c) (e)	31	201
	MAP Pharmaceuticals Inc. (c)	7	105
	Martek Biosciences Corp. (c) (e)	19	422
	Masimo Corp. (c)	27	725
	Matrixx Initiatives Inc. (c)	4	22
	Maxygen Inc. (c) (e)	11	74
	MedAssets Inc. (c)	21	437
	MedCath Corp. (c) (e)	11	112
	Medical Action Industries Inc. (c)	7	89
	Medicines Co. (c)	30	238
	Medicis Pharmaceutical Corp.	32	798
	Medidata Solutions Inc. (c)	5	80
	Medivation Inc. (c)	15	158
	MedQuist Inc. (e)	4	31
	Merge Healthcare Inc. (c)	32	65
	Meridian Bioscience Inc.	22	448
	Merit Medical Systems Inc. (c)	14	220
	Metabolix Inc. (c) (e)	14	169
	Metropolitan Health Networks Inc. (c) (e)	30	95
	Micromet Inc. (c)	30	246
	Micrus Endovascular Corp. (c)	8	163
	MiddleBrook Pharmaceuticals Inc. (c) (e)	17	5
	Molecular Insight Pharmaceuticals Inc. (c) (e)	7	10
	Molina Healthcare Inc. (c) (e)	8	199
	Momenta Pharmaceuticals Inc. (c)	22	322
	MWI Veterinary Supply Inc. (c)	6	234
	Myriad Pharmaceuticals Inc. (c)	15	69
	Nabi Biopharmaceuticals (c)	28	153
	Nanosphere Inc. (c)	7	31
	National Healthcare Corp.	4	153
	National Research Corp.	1	19
	Natus Medical Inc. (c)	16	259
	Nektar Therapeutics (c)	50	759
	Neogen Corp. (c) (e)	11	278
	Neurocrine Biosciences Inc. (c)	19	47
	NeurogesX Inc. (c) (e)	5	44
	Nighthawk Radiology Holdings Inc. (c)	10	31
	NovaMed Inc. (c) (e)	9	30
	Novavax Inc. (c) (e)	51	117
	NPS Pharmaceuticals Inc. (c)	22	113
	NuVasive Inc. (c) (e)	20	912
	NxStage Medical Inc. (c) (e)	12	141
	Obagi Medical Products Inc. (c)	9	116
	Odyssey HealthCare Inc. (c)	18	324
	Omeros Corp. (c) (e)	3	23
	Omnicell Inc. (c)	18	255
	OncoGenex Pharmaceutical Inc. (c) (e)	3	51
	Onyx Pharmaceuticals Inc. (c)	33	1,004
	Opko Health Inc. (c) (e)	18	35
	Optimer Pharmaceuticals Inc. (c) (e)	14	175
	OraSure Technologies Inc. (c)	28	168
	Orexigen Therapeutics Inc. (c)	15	87
	Orthofix International NV (c) (e)	9	332
	Orthovita Inc. (c)	41	174
	Osiris Therapeutics Inc. (c) (e)	8	58
	Owens & Minor Inc. (e)	22	1,038
	OXiGENE Inc. (c) (e)	12	15
	Pain Therapeutics Inc. (c)	21	129
	Palomar Medical Technologies Inc. (c)	13	138
	Par Pharmaceutical Cos. Inc. (c)	19	469
	Parexel International Corp. (c)	31	724
	PDL BioPharma Inc.	63	392
	Pharmasset Inc. (c) (e)	12	313
	PharMerica Corp. (c)	16	286
	Phase Forward Inc. (c) (e)	22	289
	Poniard Pharmaceuticals Inc. (c) (e)	35	40
	Pozen Inc. (c)	13	129
	Progenics Pharmaceuticals Inc. (c)	12	63
	Protalix BioTherapeutics Inc. (c) (e)	18	116
	Providence Services Corp. (c)	6	88
	PSS World Medical Inc. (c) (e)	32	753
	Psychiatric Solutions Inc. (c)	30	904
	Quality Systems Inc. (e)	13	781
	Questcor Pharmaceuticals Inc. (c)	32	264
	Quidel Corp. (c) (e)	14	210
	RadNet Inc. (c)	14	43
	Regeneron Pharmaceuticals Inc. (c)	35	925
	RehabCare Group Inc. (c)	13	363
	Repligen Corp. (c)	14	56
	Repros Therapeutics Inc. (c)	4	3
	Res-Care Inc. (c)	15	177
	Rigel Pharmaceuticals Inc. (c)	26	210
	Rochester Medical Corp. (c)	4	55
	Rockwell Medical Technologies Inc. (c) (e)	9	53
	RTI Biologics Inc. (c)	33	143
	Salix Pharmaceuticals Ltd. (c)	31	1,143
	Sangamo Biosciences Inc. (c) (e)	25	136
	Santarus Inc. (c)	27	145
	Savient Pharmaceuticals Inc. (c)	36	515
	Sciclone Pharmaceuticals Inc. (c) (e)	27	94
	Seattle Genetics Inc. (c)	45	533
	Select Medical Holdings Corp. (c)	20	170
	Sequenom Inc. (c) (e)	33	209
	SIGA Technologies Inc. (c) (e)	20	131
	Sirona Dental Systems Inc. (c)	9	354
	Skilled Healthcare Group Inc. (c)	15	94
	Somanetics Corp. (c)	6	106
	SonoSite Inc. (c)	7	228
	Spectranetics Corp. (c)	15	104
	Spectrum Pharmaceuticals Inc. (c) (e)	24	110
	StemCells Inc. (c) (e)	72	84
	Stereotaxis Inc. (c) (e)	15	73
	STERIS Corp. (e)	31	1,057
	Sucampo Pharmaceuticals Inc. (c)	4	16
	Sun Healthcare Group Inc. (c)	25	243
	Sunrise Senior Living Inc. (c) (e)	25	128
	SuperGen Inc. (c)	31	100
	SurModics Inc. (c) (e)	9	191
	Symmetry Medical Inc. (c)	20	202
	Synovis Life Technologies Inc. (c)	7	110
	Synta Pharmaceuticals Corp. (c)	8	34
	Theravance Inc. (c)	30	403
	Thoratec Corp. (c) (e)	31	1,043
	TomoTherapy Inc. (c)	31	105
	TranS1 Inc. (c) (e)	6	19
	Transcend Services Inc. (c)	4	63
	Triple-S Management Corp. (c) (e)	10	183
	Universal American Corp. (c)	14	214
	US Physical Therapy Inc. (c)	6	107
	Utah Medical Products Inc.	1	40
	Vanda Pharmaceuticals Inc. (c)	13	154
	Varian Inc. (c)	16	804
	Vascular Solutions Inc. (c)	7	64
	Vical Inc. (c) (e)	24	82
	ViroPharma Inc. (c)	41	565
	Virtual Radiologic Corp. (c) (e)	3	32
	Vital Images Inc. (c)	7	110
	Vivus Inc. (c) (e)	45	396
	Volcano Corp. (c)	26	631
	WellCare Health Plans Inc. (c)	22	666
	West Pharmaceutical Services Inc. (e)	18	741
	Wright Medical Group Inc. (c)	22	385
	XenoPort Inc. (c)	15	142
	Young Innovations Inc.	3	82
	Zoll Medical Corp. (c)	12	307
	ZymoGenetics Inc. (c)	26	151
			78,820
INDUSTRIALS - 14.8%
	3D Systems Corp. (c)	8	115
	AAON Inc.	7	161
	AAR Corp. (c)	21	521
	ABM Industries Inc. (e)	25	520
	Acacia Research Corp. (c)	16	176
	ACCO Brands Corp. (c)	28	211
	Aceto Corp.	16	99
	Actuant Corp. - Class A (e)	38	736
	Acuity Brands Inc.	24	1,005
	Administaff Inc.	12	262
	Advanced Battery Technologies Inc. (c) (e)	29	111
	Advisory Board Co. (c)	9	281
	AeroVironment Inc. (c) (e)	7	193
	Air Transport Services Group Inc (c)	29	97
	Aircastle Ltd.	25	239
	AirTran Holdings Inc. (c)	74	374
	Alamo Group Inc.	3	68
	Alaska Air Group Inc. (c)	20	809
	Albany International Corp.	14	311
	Allegiant Travel Co. (c) (e)	8	478
	Altra Holdings Inc. (c)	14	186
	AMERCO (c)	5	280
	American Commercial Lines Inc. (c) (e)	4	107
	American Railcar Industries Inc.	4	52
	American Reprographics Co. (c)	22	197
	American Science & Engineering Inc.	5	387
	American Superconductor Corp. (c) (e)	23	677
	American Woodmark Corp.	5	92
	Ameron International Corp.	5	317
	Ampco-Pittsburgh Corp.	5	124
	Amrep Corp. (c)	1	8
	AO Smith Corp.	12	615
	APAC Customer Services Inc. (c)	14	81
	Apogee Enterprises Inc. (e)	16	257
	Applied Industrial Technologies Inc.	23	561
	Applied Signal Technology Inc.	8	149
	Argan Inc. (c)	3	41
	Argon ST Inc. (c)	7	196
	Arkansas Best Corp.	13	401
	Ascent Solar Technologies Inc. (c) (e)	11	41
	Astec Industries Inc. (c)	10	282
	Astronics Corp. (c) (e)	4	40
	ATC Technology Corp. (c)	11	182
	Atlas Air Worldwide Holdings Inc. (c)	11	593
	Avis Budget Group Inc. (c)	57	653
	AZZ Inc. (c)	7	229
	Badger Meter Inc.	8	293
	Baldor Electric Co.	25	937
	Barnes Group Inc. (e)	25	491
	Barrett Business Services Inc.	3	46
	Beacon Roofing Supply Inc. (c)	24	464
	Belden Inc.	25	692
	Blount International Inc. (c)	21	214
	BlueLinx Holdings Inc. (c) (e)	5	21
	Bowne & Co. Inc.	20	229
	Brady Corp. - Class A	26	803
	Briggs & Stratton Corp.	27	528
	Broadwind Energy Inc. (c) (e)	16	70
	Builders FirstSource Inc. (c)	25	79
	CAI International Inc. (c)	5	58
	Cascade Corp.	5	151
	CBIZ Inc. (c)	21	140
	CDI Corp.	8	120
	Celadon Group Inc. (c)	14	193
	Cenveo Inc. (c)	28	242
	Ceradyne Inc. (c)	14	322
	Chart Industries Inc. (c)	15	291
	Chase Corp. (e)	3	34
	China BAK Battery Inc. (c) (e)	28	67
	China Fire & Security Group Inc. (c) (e)	7	93
	CIRCOR International Inc.	9	312
	CLARCOR Inc.	28	971
	Clean Harbors Inc. (c)	12	664
	Colfax Corp. (c)	14	168
	Columbus Mckinnon Corp. (c)	10	159
	Comfort Systems USA Inc. (e)	21	260
	COMSYS IT Partners Inc. (c)	7	126
	Consolidated Graphics Inc. (c)	5	218
	Cornell Cos. Inc. (c)	5	95
	Corporate Executive Board Co.	18	479
	CoStar Group Inc. (c) (e)	11	449
	Courier Corp.	5	80
	CRA International Inc. (c) (e)	5	118
	Cubic Corp.	8	289
	Curtiss-Wright Corp. (e)	25	872
	Deluxe Corp.	28	538
	Diamond Management & Technology Consultants Inc. (e)	14	111
	DigitalGlobe Inc. (c)	7	209
	Dollar Thrifty Automotive Group Inc. (c)	15	492
	Ducommun Inc.	7	157
	Duoyuan Printing Inc. (c)	4	45
	DXP Enterprises Inc. (c)	4	46
	Dycom Industries Inc. (c)	21	186
	Dynamex Inc. (c)	5	78
	Dynamic Materials Corp.	6	97
	DynCorp International Inc. (c)	12	136
	Eagle Bulk Shipping Inc. (c) (e)	33	174
	Eastern Co.	3	36
	EMCOR Group Inc. (c) (e)	36	897
	Encore Wire Corp.	10	209
	Ener1 Inc. (c) (e)	29	135
	Energy Conversion Devices Inc. (c) (e)	26	201
	Energy Recovery Inc. (c) (e)	17	108
	EnergySolutions Inc.	44	281
	EnerNOC Inc. (c) (e)	7	216
	EnerSys (c)	22	532
	Ennis Inc.	15	243
	EnPro Industries Inc. (c) (e)	11	321
	ESCO Technologies Inc.	14	448
	Esterline Technologies Corp. (c)	16	814
	Evergreen Solar Inc. (c) (e)	94	106
	Exponent Inc. (c)	8	223
	Federal Signal Corp.	26	238
	Flow International Corp. (c)	24	74
	Force Protection Inc. (c)	38	228
	Forward Air Corp.	16	430
	Franklin Covey Co. (c)	6	45
	Franklin Electric Co. Inc.	12	367
	FreightCar America Inc.	7	173
	Fuel Tech Inc. (c)	12	96
	FuelCell Energy Inc. (c) (e)	39	110
	Furmanite Corp. (c)	19	98
	Fushi Copperweld Inc. (c)	11	127
	G&K Services Inc. - Class A	10	257
	Genco Shipping & Trading Ltd. (c) (e)	13	280
	GenCorp Inc. (c)	27	154
	Genesee & Wyoming Inc. - Class A (c)	20	684
	Geo Group Inc. (c)	28	549
	GeoEye Inc. (c)	10	295
	Gibraltar Industries Inc. (c)	16	199
	Global Defense Technology & Systems Inc. (c)	2	30
	Gorman-Rupp Co. (e)	8	215
	GP Strategies Corp. (c)	11	93
	GrafTech International Ltd. (c)	67	910
	Graham Corp.	7	121
	Granite Construction Inc.	19	562
	Great Lakes Dredge & Dock Corp.	26	135
	Greenbrier Cos. Inc. (c)	11	122
	Griffon Corp. (c)	24	298
	GT Solar International Inc. (c) (e)	15	77
	H&E Equipment Services Inc. (c)	14	149
	Harbin Electric Inc. (c) (e)	8	175
	Hawaiian Holdings Inc. (c)	27	199
	Healthcare Services Group Inc. (e)	23	518
	Heartland Express Inc. (e)	27	449
	HEICO Corp. (e)	12	633
	Heidrick & Struggles International Inc. (e)	9	255
	Heritage-Crystal Clean Inc. (c) (e)	1	14
	Herley Industries Inc. (c)	6	91
	Herman Miller Inc. (e)	29	518
	Hexcel Corp. (c)	52	753
	Hill International Inc. (c) (e)	12	72
	HNI Corp. (e)	24	647
	Horizon Lines Inc. - Class A	21	113
	Houston Wire & Cable Co. (e)	8	96
	HUB Group Inc. - Class A (c)	20	563
	Hurco Cos. Inc. (c)	4	64
	Huron Consulting Group Inc. (c)	12	241
	ICF International Inc. (c)	6	156
	II-VI Inc. (c)	14	474
	InnerWorkings Inc. (c)	14	71
	Insituform Technologies Inc. - Class A (c)	21	560
	Insteel Industries Inc. (e)	9	97
	Integrated Electrical Services Inc. (c)	4	22
	Interface Inc.	28	322
	Interline Brands Inc. (c)	17	320
	International Shipholding Corp.	3	81
	JetBlue Airways Corp. (c)	141	785
	John Bean Technologies Corp.	16	278
	Kadant Inc. (c)	9	126
	Kaman Corp. - Class A	15	364
	Kaydon Corp.	18	675
	Kelly Services Inc. - Class A (c)	14	235
	Kforce Inc. (c)	15	226
	Kimball International Inc. - Class B	17	119
	Knight Transportation Inc.	31	652
	Knoll Inc.	25	282
	Korn/Ferry International (c)	24	430
	K-Tron International Inc. (c)	1	217
	LaBarge Inc. (c)	6	64
	Ladish Co. Inc. (c)	8	165
	Lawson Products Inc.	2	33
	Layne Christensen Co. (c)	10	268
	LB Foster Co. (c)	5	143
	Lihua International Inc. (c)	2	14
	Lindsay Corp. (e)	7	274
	LMI Aerospace Inc. (c)	4	72
	LSI Industries Inc.	9	65
	M&F Worldwide Corp. (c)	6	184
	Marten Transport Ltd. (c)	9	180
	MasTec Inc. (c)	30	373
	McGrath RentCorp	13	317
	Metalico Inc. (c) (e)	23	135
	Met-Pro Corp.	8	76
	Michael Baker Corp. (c)	5	164
	Microvision Inc. (c) (e)	52	147
	Middleby Corp. (c)	9	497
	Miller Industries Inc. (c)	6	77
	Mine Safety Appliances Co.	14	396
	Mistras Group Inc. (c)	6	57
	Mobile Mini Inc. (c) (e)	18	282
	Moog Inc. - Class A (c)	25	888
	Mueller Industries Inc.	20	540
	Mueller Water Products Inc.	87	416
	Multi-Color Corp.	5	56
	MYR Group Inc. (c)	9	141
	NACCO Industries Inc. - Class A	3	232
	Navigant Consulting Inc. (c)	28	345
	NCI Building Systems Inc. (c)	13	142
	Nordson Corp.	18	1,223
	North American Galvanizing & Coating Inc. (c)	6	31
	Northwest Pipe Co. (c)	4	96
	Odyssey Marine Exploration Inc. (c)	26	34
	Old Dominion Freight Line Inc. (c)	15	490
	Omega Flex Inc. (e)	1	10
	On Assignment Inc. (c)	19	135
	Orbital Sciences Corp. (c)	30	570
	Orion Energy Systems Inc. (c) (e)	8	40
	Orion Marine Group Inc. (c)	15	264
	Otter Tail Corp.	19	425
	Pacer International Inc. (c)	18	108
	Patriot Transportation Holding Inc. (c)	1	56
	Perma-Fix Environmental Services Inc. (c)	24	53
	Pike Electric Corp. (c)	8	71
	PMFG Inc. (c) (e)	7	95
	Polypore International Inc. (c)	12	215
	Portec Rail Products Inc.	5	63
	Powell Industries Inc. (c)	5	154
	PowerSecure International Inc. (c)	8	65
	Preformed Line Products Co.	1	38
	Primoris Services Corp. (e)	3	27
	Quanex Building Products Corp.	21	355
	RailAmerica Inc. (c)	13	156
	Raven Industries Inc.	8	246
	RBC Bearings Inc. (c)	12	380
	Regal-Beloit Corp.	19	1,142
	Republic Airways Holdings Inc. (c)	25	147
	Resources Connection Inc. (c)	25	470
	Robbins & Myers Inc.	14	336
	Rollins Inc.	23	508
	RSC Holdings Inc. (c)	27	213
	Rush Enterprises Inc. - Class A (c)	19	248
	Saia Inc. (c)	8	116
	SatCon Technology Corp. (c) (e)	43	106
	Sauer-Danfoss Inc. (c)	7	92
	Schawk Inc. (e)	7	134
	School Specialty Inc. (c)	10	238
	Seaboard Corp.	-	239
	SFN Group Inc. (c)	30	239
	Simpson Manufacturing Co. Inc.	20	566
	SkyWest Inc.	29	420
	SmartHeat Inc. (c) (e)	6	60
	Standard Parking Corp. (c)	4	59
	Standard Register Co.	14	73
	Standex International Corp.	7	170
	Stanley Inc. (c)	6	179
	Steelcase Inc.	39	255
	Sterling Construction Co. Inc. (c)	10	151
	Sun Hydraulics Corp. (e)	7	182
	Sykes Enterprises Inc. (c)	20	463
	TAL International Group Inc. (e)	9	182
	Taser International Inc. (c)	33	195
	Team Inc. (c)	10	170
	Tecumseh Products Co. (c)	10	124
	Teledyne Technologies Inc. (c)	19	801
	Tennant Co.	10	262
	Tetra Tech Inc. (c)	34	772
	Textainer Group Holdings Ltd.	5	98
	Titan International Inc. (e)	20	174
	Titan Machinery Inc. (c) (e)	6	81
	Todd Shipyards Corp.	3	42
	Towers Watson & Co.	23	1,087
	Tredegar Corp.	17	291
	Trex Co. Inc. (c)	10	203
	TriMas Corp. (c)	7	48
	Triumph Group Inc.	9	635
	TrueBlue Inc. (c)	24	373
	Tutor Perini Corp. (c) (e)	14	309
	Twin Disc Inc.	4	53
	UAL Corp. (c) (e)	92	1,791
	Ultralife Corp. (c) (e)	6	24
	Ultrapetrol Ltd. (c)	13	73
	United Capital Corp. (c)	1	21
	United Rentals Inc. (c)	35	325
	United Stationers Inc. (c)	13	775
	Universal Forest Products Inc.	10	392
	Universal Truckload Services Inc. (c)	3	48
	US Airways Group Inc. (c) (e)	87	640
	US Ecology Inc.	11	170
	USA Truck Inc. (c)	3	55
	Valence Technology Inc. (c) (e)	25	21
	Viad Corp.	11	236
	Vicor Corp. (c)	9	127
	Volt Information Sciences Inc. (c)	6	60
	VSE Corp.	2	87
	Waste Services Inc. (c)	11	104
	Watsco Inc.	15	838
	Watts Water Technologies Inc.	15	479
	Werner Enterprises Inc.	23	535
	Willis Lease Finance Corp. (c)	2	34
	Woodward Governor Co.	33	1,065
	YRC Worldwide Inc. (c)	29	15
			84,165
INFORMATION TECHNOLOGY - 17.4%
	3Com Corp. (c)	213	1,635
	3PAR Inc. (c) (e)	16	156
	ACI Worldwide Inc. (c)	20	408
	Acme Packet Inc. (c)	21	410
	Actel Corp. (c)	14	191
	ActivIdentity Corp. (c)	20	57
	Actuate Corp. (c)	22	123
	Acxiom Corp. (c)	38	678
	Adaptec Inc. (c)	68	222
	ADC Telecommunications Inc. (c)	51	376
	ADTRAN Inc.	30	785
	Advanced Analogic Technologies Inc. (c)	21	74
	Advanced Energy Industries Inc. (c)	18	304
	Advent Software Inc. (c) (e)	9	388
	Agilysys Inc.	11	121
	Airvana Inc. (c)	12	90
	American Software Inc.	11	62
	Amkor Technology Inc. (c) (e)	62	437
	Anadigics Inc. (c)	37	177
	Anaren Inc. (c)	9	122
	Ancestry.com Inc. (c)	4	63
	Anixter International Inc. (c)	16	753
	Applied Micro Circuits Corp. (c)	36	312
	Archipelago Learning Inc. (c)	3	49
	ArcSight Inc. (c) (e)	11	299
	Ariba Inc. (c)	47	607
	Arris Group Inc. (c)	69	825
	Art Technology Group Inc. (c)	86	378
	Aruba Networks Inc. (c) (e)	33	454
	AsiaInfo Holdings Inc. (c)	17	446
	Atheros Communications Inc. (c)	37	1,433
	ATMI Inc. (c)	17	333
	Aviat Networks Inc. (c)	29	195
	Avid Technology Inc. (c)	14	195
	Bel Fuse Inc. - Class B	5	110
	Benchmark Electronics Inc. (c)	36	752
	BigBand Networks Inc. (c)	17	59
	Black Box Corp.	9	289
	Blackbaud Inc.	24	597
	Blackboard Inc. (c)	18	748
	Blue Coat Systems Inc. (c)	21	662
	Bottomline Technologies Inc. (c)	14	244
	Brightpoint Inc. (c)	27	205
	Brooks Automation Inc. (c)	35	312
	Cabot Microelectronics Corp. (c)	12	467
	CACI International Inc. - Class A (c) (e)	17	811
	Callidus Software Inc. (c)	12	44
	Cass Information Systems Inc. (e)	4	119
	Cavium Networks Inc. (c)	19	475
	Ceva Inc. (c)	11	125
	Checkpoint Systems Inc. (c)	21	454
	China Information Security Technology Inc. (c) (e)	13	64
	China Security & Surveillance Technology Inc. (c) (e)	26	198
	China TransInfo Technology Corp. (c) (e)	8	57
	Chordiant Software Inc. (c)	14	69
	Ciber Inc. (c)	40	149
	Cirrus Logic Inc. (c)	36	303
	Cogent Inc. (c)	23	234
	Cognex Corp.	22	414
	Cogo Group Inc. (c)	12	83
	Coherent Inc. (c)	12	379
	Cohu Inc.	13	181
	Communications Systems Inc.	3	35
	CommVault Systems Inc. (c)	23	483
	Compellent Technologies Inc. (c)	10	168
	Computer Task Group Inc. (c)	7	48
	comScore Inc. (c)	11	188
	Comtech Telecommunications Corp. (c) (e)	15	475
	Comverge Inc. (c) (e)	13	143
	Concur Technologies Inc. (c) (e)	22	902
	Constant Contact Inc. (c) (e)	14	320
	CPI International Inc. (c)	4	55
	Cray Inc. (c)	24	142
	CSG Systems International Inc. (c)	20	416
	CTS Corp.	20	185
	CyberSource Corp. (c)	37	651
	Cymer Inc. (c)	16	600
	Daktronics Inc.	20	155
	DDi Corp. (c)	6	36
	DealerTrack Holdings Inc. (c)	21	352
	Deltek Inc. (c)	8	64
	DemandTec Inc. (c)	16	114
	DG FastChannel Inc. (c) (e)	11	343
	Dice Holdings Inc. (c)	7	55
	Digi International Inc. (c)	14	145
	Digital River Inc. (c) (e)	21	626
	Diodes Inc. (c)	18	400
	DivX Inc. (c)	20	145
	Double-Take Software Inc. (c)	13	113
	DSP Group Inc. (c)	12	99
	DTS Inc. (c)	9	305
	Dynamics Research Corp. (c)	4	43
	Earthlink Inc. (e)	56	476
	Ebix Inc. (c) (e)	12	199
	Echelon Corp. (c) (e)	17	151
	Echo Global Logistics Inc. (c) (e)	3	36
	Electro Rent Corp.	9	119
	Electro Scientific Industries Inc. (c)	15	196
	Electronics for Imaging Inc. (c)	25	294
	eLoyalty Corp. (c) (e)	3	17
	Emcore Corp. (c) (e)	36	43
	EMS Technologies Inc. (c)	8	128
	Emulex Corp. (c)	45	596
	Entegris Inc. (c)	74	372
	Entropic Communications Inc. (c)	28	140
	Epicor Software Corp. (c)	24	228
	EPIQ Systems Inc. (c)	19	236
	ePlus Inc. (c)	2	29
	Euronet Worldwide Inc. (c)	26	480
	Exar Corp. (c) (e)	18	130
	ExlService Holdings Inc. (c)	9	151
	Extreme Networks (c)	47	145
	Fair Isaac Corp. (e)	26	669
	FalconStor Software Inc. (c) (e)	18	64
	FARO Technologies Inc. (c)	9	240
	FEI Co. (c)	20	466
	FormFactor Inc. (c)	26	463
	Forrester Research Inc. (c)	8	252
	Fortinet Inc. (c)	8	137
	Gartner Inc. - Class A (c)	37	827
	Global Cash Access Holdings Inc. (c)	19	155
	Globecomm Systems Inc. (c)	10	73
	GSE Systems Inc. (c)	10	53
	GSI Commerce Inc. (c)	17	457
	GSI Technology Inc. (c)	8	38
	Hackett Group Inc. (c) (e)	19	52
	Harmonic Inc. (c)	54	343
	Heartland Payment Systems Inc.	21	382
	Hittite Microwave Corp. (c) (e)	11	496
	Hughes Communications Inc. (c)	4	115
	ICx Technologies Inc. (c) (e)	5	37
	iGate Corp.	11	109
	Imation Corp. (c)	17	185
	Imergent Inc.	4	24
	Immersion Corp. (c)	14	72
	Infinera Corp. (c)	46	391
	infoGROUP Inc. (c)	19	151
	Informatica Corp. (c)	47	1,255
	Information Services Group Inc. (c) (e)	11	36
	Infospace Inc. (c)	19	210
	Innodata Isogen Inc. (c)	9	38
	Insight Enterprises Inc. (c)	25	362
	Integral Systems Inc. (c)	10	97
	Interactive Intelligence Inc. (c)	6	121
	InterDigital Inc. (c)	23	651
	Intermec Inc. (c)	33	464
	Internap Network Services Corp. (c)	26	145
	Internet Brands Inc. (c)	17	156
	Internet Capital Group Inc. (c)	18	152
	Intevac Inc. (c)	11	156
	Ipass Inc. (c)	22	26
	IPG Photonics Corp. (c) (e)	13	186
	Isilon Systems Inc. (c)	16	138
	Ixia (c) (e)	16	149
	IXYS Corp. (c)	11	95
	j2 Global Communications Inc. (c) (e)	24	557
	Jack Henry & Associates Inc.	45	1,082
	JDA Software Group Inc. (c)	18	495
	Kenexa Corp. (c)	11	157
	Keynote Systems Inc.	7	82
	Knot Inc. (c)	14	112
	Kopin Corp. (c)	41	154
	Kulicke & Soffa Industries Inc. (c)	36	261
	KVH Industries Inc. (c)	9	113
	L-1 Identity Solutions Inc. (c) (e)	41	365
	Lattice Semiconductor Corp. (c) (e)	69	254
	Lawson Software Inc. (c)	73	480
	Limelight Networks Inc. (c)	15	56
	Lionbridge Technologies Inc. (c)	36	131
	Liquidity Services Inc. (c)	8	90
	Littelfuse Inc. (c)	12	465
	LivePerson Inc. (c)	21	165
	LogMeIn Inc. (c)	4	87
	LoopNet Inc. (c)	10	108
	Loral Space & Communications Inc. (c)	6	205
	Manhattan Associates Inc. (c)	13	323
	Mantech International Corp. - Class A (c)	12	578
	Marchex Inc. - Class B	13	68
	MAXIMUS Inc.	9	571
	Maxwell Technologies Inc. (c)	12	145
	Measurement Specialties Inc. (c)	8	124
	MEMSIC Inc. (c) (e)	7	22
	Mentor Graphics Corp. (c)	51	411
	MercadoLibre Inc. (c)	14	673
	Mercury Computer Systems Inc. (c)	12	161
	Methode Electronics Inc.	21	209
	Micrel Inc.	25	268
	Microsemi Corp. (c)	45	782
	MicroStrategy Inc. - Class A (c)	5	415
	Microtune Inc. (c)	29	80
	MIPS Technologies Inc. - Class A (c)	23	101
	MKS Instruments Inc. (c)	27	524
	ModusLink Global Solutions Inc. (c)	25	207
	MoneyGram International Inc. (c)	43	163
	Monolithic Power Systems Inc. (c)	18	400
	Monotype Imaging Holdings Inc. (c)	10	98
	Move Inc. (c)	77	161
	MTS Systems Corp. (e)	9	269
	Multi-Fineline Electronix Inc. (c)	6	155
	NCI Inc. (c)	3	93
	Ness Technologies Inc. (c)	21	130
	Net 1 UEPS Technologies Inc. (c)	17	316
	Netezza Corp. (c) (e)	24	313
	NetGear Inc. (c)	19	487
	NetLogic Microsystems Inc. (c) (e)	25	739
	NetScout Systems Inc. (c)	13	186
	NetSuite Inc. (c) (e)	9	131
	Network Equipment Technologies Inc. (c)	13	71
	Newport Corp. (c)	21	263
	NIC Inc.	25	198
	Novatel Wireless Inc. (c)	15	100
	NVE Corp. (c)	2	106
	Omnivision Technologies Inc. (c)	27	456
	Online Resources Corp. (c)	12	50
	OpenTable Inc. (c) (e)	1	49
	Openwave Systems Inc. (c)	42	98
	Oplink Communications Inc. (c)	12	229
	OPNET Technologies Inc.	8	134
	Opnext Inc. (c)	13	30
	OSI Systems Inc. (c)	8	235
	Palm Inc. (c) (e)	87	327
	PAR Technology Corp. (c)	4	22
	Parametric Technology Corp. (c) (e)	62	1,122
	Park Electrochemical Corp.	11	324
	ParkerVision Inc. (c) (e)	14	24
	PC Connection Inc. (c)	5	29
	PC Mall Inc. (c)	6	29
	PC-Tel Inc. (c)	10	65
	Pegasystems Inc.	8	307
	Perficient Inc. (c)	15	167
	Pericom Semiconductor Corp. (c)	12	128
	Pervasive Software Inc. (c)	7	34
	Phoenix Technologies Ltd. (c)	19	61
	Photronics Inc. (c)	29	146
	Plantronics Inc.	26	823
	Plexus Corp. (c)	21	766
	PLX Technology Inc. (c)	24	124
	Polycom Inc. (c)	45	1,374
	Power Integrations Inc.	13	518
	Power-One Inc. (c) (e)	44	184
	Powerwave Technologies Inc. (c) (e)	80	100
	Progress Software Corp. (c)	22	678
	PROS Holdings Inc. (c)	9	87
	QAD Inc. (c)	6	32
	Quantum Corp. (c)	109	287
	Quest Software Inc. (c)	33	589
	Rackspace Hosting Inc. (c) (e)	36	671
	Radiant Systems Inc. (c)	15	221
	Radisys Corp. (c)	13	120
	RAE Systems Inc. (c)	18	15
	RealNetworks Inc. (c)	47	228
	Renaissance Learning Inc.	4	64
	RF Micro Devices Inc. (c)	144	715
	RightNow Technologies Inc. (c) (e)	11	197
	Rimage Corp. (c)	4	65
	Riverbed Technology Inc. (c) (e)	29	837
	Rofin-Sinar Technologies Inc. (c)	15	348
	Rogers Corp. (c) (e)	9	252
	Rosetta Stone Inc. (c) (e)	3	78
	Rubicon Technology Inc. (c) (e)	7	135
	Rudolph Technologies Inc. (c)	15	128
	S1 Corp. (c)	32	186
	Saba Software Inc. (c) (e)	11	54
	Sapient Corp. (c)	46	420
	SAVVIS Inc. (c)	20	328
	ScanSource Inc. (c)	14	405
	SeaChange International Inc. (c)	19	138
	Semtech Corp. (c)	33	570
	ShoreTel Inc. (c)	22	143
	Sigma Designs Inc. (c) (e)	17	202
	Silicon Graphics International Corp. (c)	18	191
	Silicon Image Inc. (c)	44	133
	Silicon Storage Technology Inc. (c)	47	142
	Skyworks Solutions Inc. (c)	92	1,436
	Smart Modular Technologies WWH Inc. (c)	17	135
	Smith Micro Software Inc. (c)	14	124
	SolarWinds Inc. (c)	6	133
	Solera Holdings Inc. (e)	38	1,477
	SonicWALL Inc. (c)	31	268
	Sonus Networks Inc. (c)	108	281
	Sourcefire Inc. (c)	11	263
	Spectrum Control Inc. (c)	6	65
	SRA International Inc. - Class A (c)	23	472
	SRS Labs Inc. (c)	5	51
	Stamps.com Inc. (c)	6	65
	Standard Microsystems Corp. (c)	12	275
	StarTek Inc. (c)	8	54
	STEC Inc. (c) (e)	12	145
	Stratasys Inc. (c)	11	272
	SuccessFactors Inc. (c)	25	472
	Super Micro Computer Inc. (c)	12	216
	Supertex Inc. (c)	7	169
	support.com Inc. (c)	26	84
	Switch & Data Facilities Co. Inc. (c)	10	183
	Sycamore Networks Inc.	10	199
	Symmetricom Inc. (c)	21	124
	Symyx Technologies Inc. (c)	20	88
	Synaptics Inc. (c) (e)	18	508
	Synchronoss Technologies Inc. (c)	10	187
	SYNNEX Corp. (c)	10	293
	Syntel Inc.	7	267
	Take-Two Interactive Software Inc. (c)	43	419
	Taleo Corp. (c)	21	545
	Technitrol Inc.	29	152
	TechTarget Inc. (c) (e)	4	22
	Techwell Inc. (c)	8	148
	Tekelec (c)	36	653
	TeleCommunication Systems Inc. (c)	24	179
	TeleTech Holdings Inc. (c)	18	304
	Terremark Worldwide Inc. (c)	30	212
	Tessera Technologies Inc. (c)	26	529
	THQ Inc. (c)	39	272
	TIBCO Software Inc. (c)	92	993
	Tier Technologies Inc. - Class B (c)	8	60
	TiVo Inc. (c)	61	1,039
	TNS Inc. (c)	14	321
	Travelzoo Inc. (c)	2	36
	Trident Microsystems Inc. (c)	29	51
	TriQuint Semiconductor Inc. (c)	79	550
	TTM Technologies Inc. (c) (e)	24	214
	Tyler Technologies Inc. (c)	17	318
	Ultimate Software Group Inc. (c)	14	452
	Ultratech Inc. (c)	13	181
	Unica Corp. (c)	7	61
	Unisys Corp. (c) (e)	23	816
	United Online Inc.	46	344
	Universal Display Corp. (c) (e)	16	193
	UTStarcom Inc. (c) (e)	63	176
	ValueClick Inc. (c)	47	479
	VASCO Data Security International Inc. (c)	16	136
	Veeco Instruments Inc. (c)	21	929
	VeriFone Holdings Inc. (c) (e)	39	785
	ViaSat Inc. (c)	16	564
	Virage Logic Corp. (c)	10	75
	Virtusa Corp. (c)	6	63
	Vocus Inc. (c) (e)	10	171
	Volterra Semiconductor Corp. (c)	12	313
	Web.com Group Inc. (c)	13	69
	Websense Inc. (c)	24	546
	White Electronic Designs Corp. (c)	10	71
	Wright Express Corp. (c)	21	624
	X-Rite Inc. (c) (e)	12	35
	Zixit Corp. (c) (e)	39	90
	Zoran Corp. (c)	28	305
	Zygo Corp. (c)	9	84
			99,381
MATERIALS - 4.5%
	A. Schulman Inc. (e)	13	314
	AEP Industries Inc. (c)	3	71
	Allied Nevada Gold Corp. (c)	31	514
	AM Castle & Co. (c)	8	103
	AMCOL International Corp.	13	351
	American Vanguard Corp.	13	106
	Ampal American Israel (c) (e)	10	27
	Arch Chemicals Inc.	14	469
	Balchem Corp.	16	385
	Boise Inc. (c)	16	101
	Brush Engineered Materials Inc. (c)	11	246
	Buckeye Technologies Inc. (c)	22	291
	BWAY Holdings Co. (c)	4	78
	Calgon Carbon Corp. (c)	30	509
	Century Aluminum Co. (c)	31	425
	China Green Agriculture Inc. (c) (e)	6	83
	China Precision Steel Inc. (c) (e)	15	32
	Clearwater Paper Corp. (c)	6	287
	Coeur d'Alene Mines Corp. (c) (e)	45	678
	Deltic Timber Corp.	6	251
	Domtar Corp. (c)	23	1,470
	Ferro Corp. (c)	46	401
	General Moly Inc. (c) (e)	42	141
	General Steel Holdings Inc. (c) (e)	18	74
	Glatfelter	25	360
	Graphic Packaging Holding Co. (c)	60	218
	Hawkins Inc. (e)	5	110
	Haynes International Inc.	7	233
	HB Fuller Co.	26	610
	Headwaters Inc. (c)	37	168
	Hecla Mining Co. (c) (e)	132	720
	Horsehead Holding Corp. (c)	22	266
	ICO Inc.	17	141
	Innophos Holdings Inc.	9	242
	Innospec Inc. (c)	11	129
	Kaiser Aluminum Corp.	8	327
	KapStone Paper and Packaging Corp. (c)	19	229
	Koppers Holdings Inc.	11	309
	Landec Corp. (c)	16	105
	Louisiana-Pacific Corp. (c)	67	606
	LSB Industries Inc. (c)	11	161
	Minerals Technologies Inc.	10	526
	Myers Industries Inc.	19	201
	Neenah Paper Inc.	8	119
	NewMarket Corp.	5	546
	NL Industries Inc.	4	31
	Olin Corp.	42	824
	Olympic Steel Inc.	5	179
	OM Group Inc. (c)	17	561
	Omnova Solutions Inc. (c)	22	176
	Paramount Gold and Silver Corp. (c) (e)	42	59
	PolyOne Corp. (c)	52	533
	Quaker Chemical Corp.	6	153
	Rock-Tenn Co. - Class A (e)	21	967
	Rockwood Holdings Inc. (c)	27	707
	RTI International Metals Inc. (c) (e)	17	513
	Schweitzer-Mauduit International Inc.	10	458
	Sensient Technologies Corp.	26	763
	ShengdaTech Inc. (c) (e)	15	112
	Silgan Holdings Inc.	15	892
	Solutia Inc. (c)	66	1,059
	Spartech Corp. (c)	15	179
	Stepan Co.	4	213
	Stillwater Mining Co. (c) (e)	23	303
	STR Holdings Inc. (c)	6	132
	Sutor Technology Group Ltd. (c)	7	19
	Texas Industries Inc. (e)	12	426
	United States Lime & Minerals Inc. (c)	1	32
	Universal Stainless & Alloy Products Inc. (c)	4	86
	US Concrete Inc. (c) (e)	18	6
	US Gold Corp. (c)	41	110
	Wausau Paper Corp. (c)	24	207
	Westlake Chemical Corp.	10	260
	Worthington Industries Inc.	32	556
	WR Grace & Co. (c)	39	1,074
	Zep Inc.	12	263
	Zoltek Cos. Inc. (c) (e)	17	162
			25,748
TELECOMMUNICATION SERVICES - 0.9%
	AboveNet Inc. (c)	7	352
	Alaska Communications Systems Group Inc. (e)	25	202
	Atlantic Tele-Network Inc.	4	201
	Cbeyond Inc. (c) (e)	13	179
	Cincinnati Bell Inc. (c)	106	361
	Cogent Communications Group Inc. (c)	23	238
	Consolidated Communications Holdings Inc.	13	239
	General Communication Inc. - Class A (c)	21	120
	Global Crossing Ltd. (c)	16	237
	HickoryTech Corp.	6	51
	inContact Inc. (c)	12	33
	Iowa Telecommunications Services Inc.	18	303
	Neutral Tandem Inc. (c)	18	288
	NTELOS Holdings Corp.	17	298
	PAETEC Holding Corp. (c)	66	309
	Premiere Global Services Inc. (c)	33	269
	Shenandoah Telecommunications Co.	12	234
	SureWest Communications (c) (e)	7	64
	Syniverse Holdings Inc. (c)	37	720
	USA Mobility Inc. (c)	13	166
			4,864
UTILITIES - 3.0%
	Allete Inc. (e)	16	532
	American States Water Co. (e)	10	348
	Artesian Resources Corp. (e)	3	48
	Avista Corp.	30	612
	Black Hills Corp. (e)	21	637
	Cadiz Inc. (c) (e)	6	77
	California Water Service Group	11	399
	Central Vermont Public Service Corp.	7	146
	CH Energy Group Inc.	9	349
	Chesapeake Utilities Corp. (e)	6	171
	Cleco Corp.	33	888
	Connecticut Water Services Inc.	4	89
	Consolidated Water Co. Ltd. (e)	7	97
	El Paso Electric Co. (c)	24	488
	Empire District Electric Co.	20	366
	IDACORP Inc. (e)	26	903
	Laclede Group Inc.	13	422
	MGE Energy Inc.	13	445
	Middlesex Water Co.	6	108
	New Jersey Resources Corp. (e)	23	877
	Nicor Inc.	24	1,018
	Northwest Natural Gas Co.	14	667
	NorthWestern Corp.	19	516
	Pennichuck Corp.	2	44
	Piedmont Natural Gas Co. Inc. (e)	39	1,088
	PNM Resources Inc.	47	587
	Portland General Electric Co. (e)	42	805
	SJW Corp.	6	160
	South Jersey Industries Inc.	16	676
	Southwest Gas Corp.	24	721
	Southwest Water Co.	15	152
	UIL Holdings Corp.	15	426
	UniSource Energy Corp.	19	606
	Unitil Corp. (e)	5	125
	US Geothermal Inc. (c) (e)	43	39
	WGL Holdings Inc. (e)	28	961
	York Water Co. (e)	6	81
			16,674
	Total Common Stocks (cost $516,709)		552,309
WARRANTS - 0.0%
	Lantronix Inc., 02/09/11 (c) (f)	-	-
	Total Warrants (cost $0)		-
NON-U.S. GOVERNMENT AGENCY ASSET-BACKED SECURITIES - 0.0%
	Sigma Finance, Inc. (d) (f) (u)	$             2,630	112
	Total Non-U.S. Government Agency Asset-Backed Securities (cost $2,630)		112
SHORT TERM INVESTMENTS - 18.7%
Mutual Funds - 2.9%
	JNL Money Market Fund, 0.03% (a) (h)	16,479	16,479
Securities Lending Collateral - 15.6%
	Securities Lending Cash Collateral Fund LLC, 0.24% (a) (h)	65,113	65,113
	Securities Lending Liquidating Fund LLC, 0.38% (a) (h)	23,828	23,828
			88,941
U.S. Treasury Securities - 0.2%
	U.S. Treasury Bill, 0.13%, 06/10/10 (o)	1,150	1,150
	Total Short Term Investments (cost $106,570)		106,570
Total Investments - 115.6% (cost $625,909)			658,991
Other Assets and Liabilities, Net -  (15.6%)			(88,863)
Total Net Assets - 100%			$      570,128

JNL/Mellon Capital Management International Index Fund
COMMON STOCKS - 98.0%
CONSUMER DISCRETIONARY - 9.5%
	ABC-Mart Inc.	2	$               64
	Accor SA	12	649
	Adidas AG	17	892
	Aisin Seiki Co. Ltd.	15	452
	Aristocrat Leisure Ltd. (e)	33	137
	Asics Corp.	14	137
	Autogrill SpA (c)	7	89
	Bayerische Motoren Werke AG	27	1,250
	Benesse Corp.	6	243
	Billabong International Ltd. (e)	16	170
	Bridgestone Corp. (e)	50	854
	British Sky Broadcasting Group Plc	91	831
	Burberry Group Plc	35	381
	Canon Marketing Japan Inc.	5	69
	Carnival Plc (c)	14	566
	Casio Computer Co. Ltd. (e)	20	155
	Christian Dior SA	5	534
	Compagnie Financiere Richemont SA	43	1,648
	Compagnie Generale des Etablissements Michelin	12	865
	Compass Group Plc	152	1,210
	Crown Ltd.	41	309
	Daihatsu Motor Co. Ltd.	15	143
	Daimler AG (c)	73	3,456
	Dena Co. Ltd.	-	148
	Denso Corp.	40	1,183
	Dentsu Inc. (e)	14	355
	Electrolux AB - Class B (c) (e)	19	441
	Esprit Holdings Ltd.	94	745
	Eutelsat Communications Group SA	8	282
	Fairfax Media Ltd. (e)	178	294
	Fast Retailing Co. Ltd. (e)	4	678
	Fiat SpA (c) (e)	63	817
	Fuji Heavy Industries Ltd. (c)	47	243
	Fuji Media Holdings Inc.	-	24
	Genting International Plc (c) (e)	395	250
	Gestevision Telecinco SA	9	136
	Hakuhodo DY Holdings Inc. (e)	2	110
	Harvey Norman Holdings Ltd. (e)	42	140
	Hennes & Mauritz AB - Class B	42	2,700
	Hermes International SCA	4	605
	Home Retail Group Plc	67	275
	Honda Motor Co. Ltd. (e)	134	4,730
	Husqvarna AB - Class B (c)	31	228
	Inditex SA	18	1,175
	InterContinental Hotels Group Plc	20	320
	Isetan Mitsukoshi Holdings Ltd. (e)	28	296
	Isuzu Motors Ltd. (c)	92	249
	J. Front Retailing Co. Ltd. (e)	37	219
	Jardine Cycle & Carriage Ltd.	10	207
	JC Decaux SA (c)	6	161
	Jupiter Telecommunications Co. Ltd. (e)	-	238
	Kingfisher Plc	194	633
	Koito Manufacturing Co. Ltd.	8	119
	Lagardere SCA	9	379
	Li & Fung Ltd. (e)	180	885
	Lifestyle International Holdings Ltd.	48	86
	Luxottica Group SpA (e)	9	249
	LVMH Moet Hennessy Louis Vuitton SA	20	2,331
	M6-Metropole Television SA	5	137
	Makita Corp.	9	293
	Marks & Spencer Group Plc	130	729
	Marui Group Co. Ltd. (e)	18	132
	Mazda Motor Corp.	127	357
	McDonald's Holdings Co. Japan Ltd.	5	91
	Mediaset SpA (e)	56	480
	Mitsubishi Motors Corp. (c) (e)	285	387
	Namco Bandai Holdings Inc. (e)	14	139
	Next Plc	16	535
	NGK Spark Plug Co. Ltd.	12	163
	NHK Spring Co. Ltd.	11	101
	Nikon Corp.	27	579
	Nissan Motor Co. Ltd. (c)	203	1,736
	Nisshinbo Holdings Inc. (e)	10	104
	Nitori Co. Ltd.	3	239
	NOK Corp.	9	141
	Nokian Renkaat Oyj (e)	9	221
	OPAP SA	19	421
	Oriental Land Co. Ltd.	4	272
	PagesJaunes Groupe SA	10	119
	Panasonic Corp.	160	2,442
	Pearson Plc	65	1,015
	Peugeot SA (c)	12	345
	Pirelli & C. SpA (c)	205	126
	PPR SA	6	808
	Publicis Groupe	10	421
	Puma AG Rudolf Dassler Sport	-	123
	Rakuten Inc. (e)	1	411
	Reed Elsevier NV	58	703
	Reed Elsevier Plc	97	773
	Renault SA (c)	15	694
	Rinnai Corp. (e)	3	168
	Sands China Ltd. (c)	163	258
	Sankyo Co. Ltd. (e)	4	203
	Sanoma Oyj (e)	7	152
	Sanyo Electric Co. Ltd. (c)	144	231
	Sega Sammy Holdings Inc.	15	182
	Sekisui Chemical Co. Ltd.	33	224
	Sekisui House Ltd.	43	430
	SES SA	22	561
	Shangri-La Asia Ltd.	108	212
	Sharp Corp. (e)	80	1,000
	Shimamura Co. Ltd.	2	142
	Shimano Inc.	5	239
	Singapore Press Holdings Ltd. (e)	133	364
	SKYCITY Entertainment Group Ltd.	50	115
	Societe Television Francaise 1	9	165
	Sodexo SA	8	467
	Sony Corp. (e)	82	3,125
	Stanley Electric Co. Ltd.	11	221
	Sumitomo Rubber Industries Inc.	12	103
	Suzuki Motor Corp. (e)	28	624
	Swatch Group AG - Class B	2	785
	Swatch Group AG (e)	4	210
	Tabcorp Holdings Ltd.	48	305
	Takashimaya Co. Ltd. (e)	25	205
	Tatts Group Ltd.	94	211
	Television Broadcasts Ltd.	23	111
	Thomas Cook Group Plc	72	295
	Toho Co. Ltd.	9	145
	Toyoda Gosei Co. Ltd.	5	132
	Toyota Boshoku Corp.	5	90
	Toyota Industries Corp.	14	406
	Toyota Motor Corp.	238	9,518
	TUI AG (c)	11	128
	TUI Travel Plc	46	212
	USS Co. Ltd.	2	137
	Vivendi SA	100	2,674
	Volkswagen AG (e)	4	341
	Whitbread Plc	15	328
	Wolters Kluwer NV	22	485
	WPP Plc	100	1,035
	Yamada Denki Co. Ltd. (e)	7	505
	Yamaha Corp. (e)	13	172
	Yamaha Motor Co. Ltd. (c) (e)	17	252
	Yue Yuen Industrial Holdings Ltd. (e) (f)	54	191
			80,331
CONSUMER STAPLES - 9.7%
	AEON Co. Ltd. (e)	50	572
	Ajinomoto Co. Inc.	55	545
	Anheuser-Busch InBev NV	59	2,954
	Anheuser-Busch InBev NV- Strip VVPR (c)	13	-
	Aryzta AG	7	293
	Asahi Breweries Ltd. (e)	32	598
	Associated British Foods Plc	29	427
	Beiersdorf AG	7	416
	British American Tobacco Plc	162	5,584
	Carlsberg A/S (e)	9	738
	Carrefour SA	52	2,487
	Casino Guichard Perrachon SA (e)	4	378
	Coca-Cola Amatil Ltd.	45	466
	Coca-Cola Hellenic Bottling Co. SA	15	398
	Coca-Cola West Co. Ltd.	4	72
	Colruyt SA	1	287
	Danone SA	45	2,694
	Delhaize Group	8	649
	Diageo Plc	203	3,412
	FamilyMart Co. Ltd. (e)	5	143
	Foster's Group Ltd. (e)	158	769
	Golden Agri-Resources Ltd. (c)	508	211
	Goodman Fielder Ltd.	106	139
	Heineken Holding NV	9	408
	Heineken NV	20	1,002
	Henkel AG & Co. KGaA	10	483
	Imperial Tobacco Group Plc	83	2,521
	Ito En Ltd. (e)	4	68
	J Sainsbury Plc	94	468
	Japan Tobacco Inc.	-	1,366
	Jeronimo Martins SGPS SA (e)	17	177
	Kao Corp. (e)	44	1,120
	Kerry Group Plc	11	336
	Kesko Oyj (e)	6	222
	Kikkoman Corp. (e)	13	152
	Kirin Holdings Co. Ltd.	67	988
	Koninklijke Ahold NV	97	1,298
	Lawson Inc.	6	235
	Lindt & Spruengli AG (e)	-	244
	L'Oreal SA	19	2,049
	MEIJI Holdings Co. Ltd.	6	214
	Metcash Ltd.	61	231
	Metro AG	9	530
	Nestle SA	281	14,392
	Nippon Meat Packers Inc. (e)	15	190
	Nisshin Seifun Group Inc. (e)	15	192
	Nissin Foods Holdings Co. Ltd. (e)	6	192
	Olam International Ltd. (e)	88	162
	Parmalat SpA	138	378
	Pernod-Ricard SA	16	1,371
	Reckitt Benckiser Group Plc	50	2,718
	SABMiller Plc	77	2,253
	Sapporo Holdings Ltd.	18	94
	Seven & I Holdings Co. Ltd.	63	1,519
	Shiseido Co. Ltd.	29	623
	Suedzucker AG	5	105
	Swedish Match AB	20	483
	Tesco Plc	645	4,260
	Toyo Suisan Kaisha Ltd.	7	181
	Unicharm Corp.	3	319
	Unilever NV	132	4,001
	Unilever Plc	104	3,063
	UNY Co. Ltd.	13	107
	Wesfarmers Ltd.	94	2,730
	Wilmar International Ltd. (e)	106	508
	WM Morrison Supermarkets Plc	169	754
	Woolworths Ltd.	101	2,590
	Yakult Honsha Co. Ltd.	7	194
	Yamazaki Baking Co. Ltd. (e)	10	124
			81,847
ENERGY - 7.9%
	AMEC Plc	26	312
	Arrow Energy Ltd. (c) (e)	46	210
	BG Group Plc	274	4,735
	BP Plc	1,521	14,385
	Cairn Energy Plc (c)	110	698
	Caltex Australia Ltd. (c)	12	122
	Cie Generale de Geophysique-Veritas (c)	11	315
	Cosmo Oil Co. Ltd. (e)	52	126
	Energy Resources of Australia Ltd.	4	77
	ENI SpA	211	4,957
	Fugro NV	6	365
	Galp Energia SGPS SA	13	228
	Hellenic Petroleum SA	7	81
	Idemitsu Kosan Co. Ltd.	2	145
	INPEX Corp.	-	499
	Japan Petroleum Exploration Co.	3	127
	Lundin Petroleum AB (c)	19	160
	Mongolia Energy Co. Ltd. (c)	231	107
	Neste Oil Oyj (c) (e)	11	192
	Nippon Mining Holdings Inc. (e) (f)	70	322
	Nippon Oil Corp. (e) (f)	98	485
	OMV AG	12	467
	Origin Energy Ltd.	72	1,091
	Paladin Energy Ltd. (c) (e)	52	190
	Petrofac Ltd.	17	317
	Repsol YPF SA	60	1,415
	Royal Dutch Shell Plc - Class A	288	8,333
	Royal Dutch Shell Plc - Class B	219	6,025
	Saipem SpA	21	818
	Santos Ltd. (e)	66	892
	SBM Offshore NV	14	277
	SeaDrill Ltd. (e)	23	538
	Showa Shell Sekiyu KK (e)	16	105
	StatoilHydro ASA	91	2,117
	Technip SA	9	694
	Tenaris SA	38	813
	TonenGeneral Sekiyu KK	22	186
	Total SA	171	9,941
	Tullow Oil Plc	72	1,370
	Woodside Petroleum Ltd. (e)	44	1,907
	WorleyParsons Ltd. (e)	14	324
			66,468
FINANCIALS - 25.0%
	3i Group Plc	77	339
	77 Bank Ltd.	25	143
	Acom Co. Ltd. (e)	2	40
	Admiral Group Plc	16	314
	Aegon NV (c)	128	877
	AEON Credit Service Co. Ltd. (e)	7	81
	AEON Mall Co. Ltd.	7	148
	Aioi Insurance Co. Ltd. (f)	38	200
	Allianz SE	37	4,626
	Alpha Bank AE (c)	38	357
	AMP Ltd.	163	938
	Anglo Irish Bank Corp. Plc (c) (f)	34	6
	Aozora Bank Ltd.	67	94
	Ascendas Real Estate Investment Trust (e)	126	173
	Assicurazioni Generali SpA (e)	95	2,280
	ASX Ltd.	14	432
	Australia & New Zealand Banking Group Ltd. (e)	203	4,732
	Aviva Plc	226	1,321
	AXA Asia Pacific Holdings Ltd.	83	482
	AXA SA	138	3,069
	Baloise Holding AG	4	370
	Banca Carige SpA	46	126
	Banca Monte dei Paschi di Siena SpA (e)	176	260
	Banca Popolare di Milano Scarl	32	199
	Banco Bilbao Vizcaya Argentaria SA	289	3,956
	Banco Comercial Portugues SA (c) (e)	191	212
	Banco de Sabadell SA (e)	71	394
	Banco de Valencia SA (e)	18	118
	Banco Espirito Santo SA	41	221
	Banco Popolare SC (c) (e)	52	361
	Banco Popular Espanol SA (e)	68	502
	Banco Santander SA	667	8,867
	Bank of Cyprus Public Co. Ltd.	43	272
	Bank of East Asia Ltd. (e)	123	452
	Bank of Kyoto Ltd. (e)	27	249
	Bank of Yokohama Ltd.	96	470
	Bankinter SA (e)	24	202
	Barclays Plc	926	5,063
	Bendigo and Adelaide Bank Ltd. (e)	28	253
	BGP Holdings Plc (f) (u)	479	-
	BNP Paribas	77	5,902
	BOC Hong Kong Holdings Ltd.	296	706
	British Land Co. Plc	69	507
	CapitaLand Ltd.	210	596
	CapitaMall Trust	188	238
	CapitaMalls Asia Ltd. (c)	111	179
	CFS Retail Property Trust	140	241
	Cheung Kong Holdings Ltd.	113	1,455
	China Bank Ltd.	63	377
	Chinese Estates Holdings Ltd.	49	82
	Chugoku Bank Ltd.	14	189
	Chuo Mitsui Trust Holdings Inc.	77	289
	City Developments Ltd.	42	318
	CNP Assurances SA	3	281
	Commerzbank AG (c) (e)	57	489
	Commonwealth Bank of Australia (e)	124	6,429
	Corio NV	4	286
	Credit Agricole SA (e)	76	1,326
	Credit Saison Co. Ltd. (e)	14	209
	Credit Suisse Group AG	91	4,709
	Criteria CaixaCorp SA	70	348
	Daito Trust Construction Co. Ltd. (e)	6	299
	Daiwa House Industry Co. Ltd.	40	451
	Daiwa Securities Group Inc.	133	700
	Danske Bank A/S (c)	37	916
	DBS Group Holdings Ltd.	140	1,426
	Deutsche Bank AG	48	3,694
	Deutsche Boerse AG	16	1,180
	Deutsche Postbank AG (c)	7	237
	Dexia SA (c)	41	245
	Dexus Property Group	391	290
	DnB NOR ASA (c)	71	816
	EFG Eurobank Ergasias SA (c)	26	240
	Erste Group Bank AG	16	654
	Eurazeo	2	166
	Exor SpA (e)	5	84
	Fonciere Des Regions	2	196
	Fondiaria-Sai SpA (e)	4	66
	Fortis (c)	184	655
	Fukuoka Financial Group Inc.	60	255
	GAM Holding Ltd. (c)	16	201
	Gecina SA	2	174
	Goodman Group	499	300
	GPT Group	750	396
	Groupe Bruxelles Lambert SA	7	588
	Groupe Bruxelles Lambert SA - Strip VVPR (c)	-	-
	Gunma Bank Ltd.	32	177
	Hachijuni Bank Ltd.	32	184
	Hammerson Plc	54	321
	Hang Lung Group Ltd. (e)	67	356
	Hang Lung Properties Ltd. (e)	166	669
	Hang Seng Bank Ltd. (e)	61	850
	Hannover Rueckversicherung AG (c)	5	240
	Henderson Land Development Co. Ltd.	88	620
	Hiroshima Bank Ltd.	36	154
	Hokuhoku Financial Group Inc.	107	235
	Hong Kong Exchanges & Clearing Ltd.	83	1,392
	Hopewell Holdings Ltd.	47	139
	HSBC Holdings Plc	1,411	14,301
	Hysan Development Co. Ltd.	54	156
	Icade SA	2	210
	ICAP Plc	42	238
	IMMOEAST AG (c) (e)	31	171
	ING Groep NV (c)	296	2,954
	Insurance Australia Group Ltd.	171	610
	Intesa Sanpaolo SpA	72	214
	Intesa Sanpaolo SpA (c)	627	2,334
	Investec Plc	34	282
	Investor AB - Class B	37	718
	Iyo Bank Ltd.	20	190
	Jafco Co. Ltd. (c) (e)	2	60
	Japan Prime Realty Investment Corp.	-	118
	Japan Real Estate Investment Corp.	-	332
	Japan Retail Fund Investment Corp.	-	159
	Joyo Bank Ltd.	53	236
	Julius Baer Group Ltd.	16	589
	KBC Groep NV (c)	13	642
	Kerry Properties Ltd.	56	298
	Kinnevik Investment AB	17	308
	Klepierre (e)	7	286
	Land Securities Group Plc	61	623
	Legal & General Group Plc	483	646
	Lend Lease Corp. Ltd.	44	347
	Liberty International Plc	42	319
	Link Real Estate Investment Trust	181	446
	Lloyds Banking Group Plc (c)	3,099	2,952
	London Stock Exchange Group Plc	11	117
	Macquarie Group Ltd. (e)	27	1,179
	Man Group Plc	134	492
	Mapfre SA (e)	60	221
	Marfin Investment Group SA (c)	53	122
	Matsui Securities Co. Ltd. (e)	8	59
	Mediobanca SpA (c)	38	411
	Mediolanum SpA (e)	16	91
	Mirvac Group (e)	219	296
	Mitsubishi Estate Co. Ltd.	96	1,571
	Mitsubishi UFJ Financial Group Inc.	1,021	5,354
	Mitsubishi UFJ Lease & Finance Co. Ltd. (e)	5	168
	Mitsui Fudosan Co. Ltd.	67	1,137
	Mitsui Sumitomo Insurance Group Holdings Inc.	34	933
	Mizuho Financial Group Inc. (e)	1,114	2,205
	Mizuho Securities Co. Ltd. (c)	48	152
	Mizuho Trust & Banking Co. Ltd. (c)	121	122
	Muenchener Rueckversicherungs AG	16	2,608
	National Australia Bank Ltd. (e)	166	4,183
	National Bank of Greece SA (c)	48	972
	Nationale A Portefeuille	2	128
	Natixis (c)	73	392
	New World Development Ltd.	200	391
	Nippon Building Fund Inc.	-	344
	Nipponkoa Insurance Co. Ltd. (f)	51	316
	Nishi-Nippon City Bank Ltd.	55	162
	Nissay Dowa General Insurance Co. Ltd. (f)	12	64
	Nomura Holdings Inc.	301	2,215
	Nomura Real Estate Holdings Inc. (e)	8	128
	Nomura Real Estate Office Fund Inc.	-	129
	Nordea Bank AB (e)	263	2,592
	NTT Urban Development Corp. (e)	-	63
	Old Mutual Plc (c)	433	805
	ORIX Corp. (c) (e)	9	763
	Oversea-Chinese Banking Corp. Ltd.	212	1,317
	Pargesa Holding SA	2	172
	Piraeus Bank SA (c)	25	219
	Pohjola Bank Plc (e)	10	114
	Prudential plc (a)	206	1,715
	QBE Insurance Group Ltd.	84	1,596
	Raiffeisen International Bank Holding AG (e)	4	194
	Ratos AB - Class B (c) (e)	8	259
	Resolution Ltd. (c)	197	245
	Resona Holdings Inc.	38	484
	Royal Bank of Scotland Group Plc (c)	1,349	901
	RSA Insurance Group Plc	274	531
	Sampo Oyj	34	913
	Sapporo Hokuyo Holdings Inc.	20	92
	SBI Holdings Inc. (c)	1	279
	Schroders Plc	10	212
	SCOR SE	13	333
	Segro Plc	58	282
	Senshu Ikeda Holdings Inc. (e)	56	102
	Seven Bank Ltd.	-	74
	Shinsei Bank Ltd. (e)	79	95
	Shizuoka Bank Ltd.	49	427
	Singapore Exchange Ltd. (e)	68	372
	Sino Land Co.	143	280
	Skandinaviska Enskilda Banken AB (c)	125	797
	Societe Generale - Class A	51	3,213
	Sompo Japan Insurance Inc. (e) (f)	71	483
	Sony Financial Holdings Inc.	-	230
	Standard Chartered Plc	164	4,479
	Standard Life Plc	179	545
	Stockland	190	697
	Sumitomo Mitsui Financial Group Inc.	105	3,464
	Sumitomo Realty & Development Co. Ltd. (e)	32	599
	Sumitomo Trust & Banking Co. Ltd. (e)	117	686
	Sun Hung Kai Properties Ltd. (e)	115	1,730
	Suncorp-Metway Ltd.	104	817
	Suruga Bank Ltd. (e)	18	161
	Svenska Handelsbanken - Class A	40	1,172
	Swedbank AB (c)	48	494
	Swire Pacific Ltd.	63	758
	Swiss Life Holding AG (c)	2	294
	Swiss Reinsurance	28	1,388
	T&D Holdings Inc.	23	537
	Tokio Marine Holdings Inc.	59	1,662
	Tokyo Tatemono Co. Ltd.	31	111
	Tokyu Land Corp.	38	145
	Topdanmark A/S (c)	1	159
	TrygVesta AS	2	141
	UBS AG (c)	289	4,695
	Unibail-Rodamco SE	7	1,508
	UniCredit SpA (c)	1,330	3,929
	Unione di Banche Italiane SCPA (e)	46	622
	Unipol Gruppo Finanziario SpA (c) (e)	54	60
	United Overseas Bank Ltd.	100	1,374
	UOL Group Ltd.	45	124
	Vienna Insurance Group	3	156
	Westfield Group	169	1,872
	Westpac Banking Corp. (e)	239	6,098
	Wharf Holdings Ltd.	110	619
	Wheelock & Co. Ltd.	74	218
	Wing Hang Bank Ltd.	9	83
	Yamaguchi Financial Group Inc.	16	175
	Zurich Financial Services AG	12	3,069
			210,117
HEALTH CARE - 7.9%
	Actelion Ltd. (c)	9	387
	Alfresa Holdings Corp.	3	142
	Astellas Pharma Inc.	37	1,335
	AstraZeneca Plc	118	5,247
	Bayer AG	67	4,534
	BioMerieux SA (e)	1	135
	Celesio AG	6	207
	Chugai Pharmaceutical Co. Ltd.	19	351
	Cie Generale d'Optique Essilor International SA	16	1,022
	Cochlear Ltd.	5	301
	Coloplast A/S	2	197
	CSL Ltd.	46	1,547
	Daiichi Sankyo Co. Ltd. (e)	54	1,005
	Dainippon Sumitomo Pharma Co. Ltd. (e)	11	101
	Eisai Co. Ltd. (e)	21	738
	Elan Corp. Plc (c)	40	298
	Fresenius Medical Care AG & Co. KGaA	15	864
	Fresenius SE	2	171
	Getinge AB - Class B	16	388
	GlaxoSmithKline Plc	421	8,081
	Grifols SA (e)	11	165
	H Lundbeck A/S	4	76
	Hisamitsu Pharmaceutical Co. Inc. (e)	6	208
	Ipsen SA	2	93
	kyowa Hakko Kirin Co. Ltd.	21	214
	Lonza Group AG (e)	4	296
	Medipal Holdings Corp.	12	142
	Merck KGaA	5	435
	Mitsubishi Tanabe Pharma Corp.	17	240
	Nobel Biocare Holding AG	10	272
	Novartis AG	171	9,240
	Novo-Nordisk A/S - Class B	35	2,748
	Olympus Corp. (e)	17	546
	Ono Pharmaceutical Co. Ltd. (e)	7	316
	Orion Oyj (e)	7	156
	Qiagen NV (c)	18	411
	Roche Holding AG	57	9,238
	Sanofi-Aventis SA	85	6,367
	Santen Pharmaceutical Co. Ltd.	6	177
	Shionogi & Co. Ltd. (e)	24	456
	Shire Plc	45	986
	Smith & Nephew Plc	71	705
	Sonic Healthcare Ltd. (e)	30	394
	Sonova Holding AG	4	454
	Straumann Holding AG	1	160
	Suzuken Co. Ltd.	5	189
	Synthes Inc.	5	611
	Sysmex Corp.	3	152
	Taisho Pharmaceutical Co. Ltd.	9	164
	Takeda Pharmaceutical Co. Ltd. (e)	61	2,685
	Terumo Corp.	14	740
	Tsumura & Co.	5	134
	UCB SA (e)	8	341
	William Demant Holding AS (c)	2	133
			66,695
INDUSTRIALS - 11.5%
	A P Moller - Maersk A/S Class A	-	313
	A P Moller - Maersk A/S Class B	-	800
	ABB Ltd. (c)	179	3,914
	Abertis Infraestructuras SA	23	449
	ACS Actividades de Construccion y Servicios SA (e)	11	513
	Adecco SA (e)	10	576
	Aeroports de Paris (e)	3	209
	Air France-KLM (c)	11	179
	Alfa Laval AB (e)	27	393
	All Nippon Airways Co. Ltd. (c)	63	180
	Alstom SA	17	1,032
	Amada Co. Ltd. (e)	28	235
	Asahi Glass Co. Ltd.	80	901
	Asciano Group (c)	225	391
	Assa Abloy AB	25	491
	Atlantia SpA	21	498
	Atlas Copco AB - Class A (e)	55	854
	Atlas Copco AB - Class B	32	453
	Auckland International Airport Ltd.	62	85
	BAE Systems Plc	289	1,626
	Balfour Beatty Plc	54	241
	Bouygues SA	18	897
	Brambles Ltd. (e)	116	783
	Brisa-Auto Estradas de Portugal SA	13	113
	British Airways Plc (c) (e)	42	156
	Bunzl Plc	28	301
	Bureau Veritas SA	4	204
	Capita Group Plc	51	590
	Cathay Pacific Airways Ltd. (c)	96	202
	Central Japan Railway Co.	-	914
	Chiyoda Corp. (e)	13	129
	Cie de Saint-Gobain	31	1,509
	Cintra Concesiones de Infraestructuras de Transporte SA	36	347
	Cobham Plc	90	352
	ComfortDelgro Corp. Ltd.	147	164
	Cosco Corp. Singapore Ltd. (e)	76	67
	CSR Ltd.	116	176
	Dai Nippon Printing Co. Ltd.	46	621
	Daikin Industries Ltd.	19	765
	Deutsche Lufthansa AG	18	303
	Deutsche Post AG	69	1,196
	DSV A/S (c) (e)	18	313
	East Japan Railway Co.	28	1,925
	Eiffage SA	3	171
	European Aeronautic Defence & Space Co. NV	34	674
	Experian Plc	84	828
	Fanuc Ltd.	16	1,655
	Finmeccanica SpA	33	435
	Firstgroup Plc	37	202
	Fomento de Construcciones y Contratas SA (e)	3	99
	Fraport AG Frankfurt Airport Services Worldwide (e)	3	159
	Fraser and Neave Ltd.	79	270
	Fuji Electric Holdings Co. Ltd. (c) (e)	40	109
	Furukawa Electric Co. Ltd.	49	255
	G4S Plc	102	406
	Gamesa Corp. Tecnologica SA	15	202
	GEA Group AG	13	304
	Geberit AG (e)	3	574
	Groupe Eurotunnel SA	40	404
	GS Yuasa Corp. (e)	30	202
	Hankyu Hanshin Holdings Inc.	95	441
	Hino Motors Ltd. (c)	19	80
	Hitachi Construction Machinery Co. Ltd. (e)	9	210
	Hochtief AG	4	298
	Hong Kong Aircraft Engineering Co. Ltd.	5	66
	Hutchison Whampoa Ltd.	174	1,273
	Iberia Lineas Aereas de Espana (c)	35	122
	IHI Corp. (c)	106	194
	Invensys Plc	62	322
	ITOCHU Corp.	123	1,078
	Japan Steel Works Ltd.	27	309
	JGC Corp.	16	285
	JS Group Corp.	20	411
	JTEKT Corp.	14	170
	Kajima Corp.	72	176
	Kamigumi Co. Ltd.	19	153
	Kawasaki Heavy Industries Ltd.	119	328
	Kawasaki Kisen Kaisha Ltd. (c)	56	223
	Keihin Electric Express Railway Co. Ltd. (e)	37	304
	Keio Corp. (e)	45	304
	Keisei Electric Railway Co. Ltd.	24	146
	Keppel Corp. Ltd.	102	665
	Kinden Corp.	10	88
	Kintetsu Corp. (e)	135	420
	Komatsu Ltd.	77	1,621
	Kone Oyj (e)	13	525
	Koninklijke Boskalis Westminster NV	5	186
	Koninklijke Philips Electronics NV (e)	79	2,535
	Koninklijke Vopak NV (c)	3	214
	Kubota Corp.	87	793
	Kuehne & Nagel International AG	4	441
	Kurita Water Industries Ltd.	9	257
	Legrand SA	8	251
	Leighton Holdings Ltd.	12	430
	Macquarie Airports	55	157
	Macquarie Infrastructure Group	181	186
	Man AG (e)	8	708
	Marubeni Corp.	132	820
	Metso Oyj (e)	10	334
	Minebea Co. Ltd.	29	177
	Mitsubishi Corp.	103	2,711
	Mitsubishi Electric Corp. (c)	158	1,452
	Mitsubishi Heavy Industries Ltd. (e)	242	1,002
	Mitsubishi Logistics Corp. (e)	9	112
	Mitsui & Co. Ltd.	141	2,376
	Mitsui Engineering & Shipbuilding Co. Ltd. (e)	65	162
	Mitsui OSK Lines Ltd.	94	675
	MTR Corp. (e)	116	438
	Neptune Orient Lines Ltd.	66	95
	NGK Insulators Ltd.	21	428
	Nippon Express Co. Ltd.	66	284
	Nippon Sheet Glass Co. Ltd.	53	156
	Nippon Yusen KK	121	478
	Nissha Printing Co. Ltd. (e)	2	82
	Noble Group Ltd. (e)	148	324
	NSK Ltd. (e)	38	300
	NTN Corp.	39	176
	NWS Holdings Ltd. (e)	58	116
	Obayashi Corp.	54	240
	Odakyu Electric Railway Co. Ltd.	51	424
	Orient Overseas International Ltd.	18	136
	Orkla ASA	61	537
	Panasonic Electric Works Co. Ltd.	30	379
	Prysmian SPA	8	166
	Qantas Airways Ltd. (c)	87	226
	Randstad Holding NV (c)	8	402
	Renewable Energy Corp. AS (c) (e)	26	123
	Rolls-Royce Group Plc (c)	151	1,368
	Ryanair Holdings Plc (c)	2	9
	Sacyr Vallehermoso SA (c) (e)	6	56
	Safran SA	16	407
	Sandvik AB	80	1,004
	Scania AB	27	420
	Schindler Holding AG	2	158
	Schneider Electric SA (virt-x)	19	2,250
	Secom Co. Ltd.	17	752
	Securitas AB - Class B	24	256
	SembCorp Industries Ltd.	75	221
	SembCorp Marine Ltd.	65	196
	Serco Group Plc	38	345
	SGS SA	-	605
	Shimizu Corp. (e)	49	204
	Siemens AG	67	6,693
	Singapore Airlines Ltd.	44	482
	Singapore Technologies Engineering Ltd.	109	249
	Skanska AB	33	598
	SKF AB - Class B	31	544
	SMC Corp.	4	597
	Smiths Group Plc	30	526
	Societe BIC SA	2	146
	Societe Des Autoroutes Paris-Rhin-Rhone (c)	2	138
	Sojitz Corp.	100	193
	Solarworld AG (e)	6	87
	Sumitomo Corp.	90	1,030
	Sumitomo Electric Industries Ltd.	62	759
	Sumitomo Heavy Industries Ltd.	44	265
	Taisei Corp.	80	176
	Thales SA	7	286
	THK Co. Ltd.	10	223
	TNT NV	30	872
	Tobu Railway Co. Ltd. (e)	63	350
	Tokyu Corp.	88	368
	Toll Holdings Ltd.	54	367
	Tomkins Plc	68	244
	Toppan Printing Co. Ltd. (e)	47	424
	TOTO Ltd. (e)	21	143
	Toyota Tsusho Corp.	17	268
	Transurban Group (e)	92	424
	Ushio Inc.	8	141
	Vallourec SA (e)	5	921
	Vestas Wind Systems A/S (c)	16	883
	Vinci SA	36	2,120
	Volvo AB - Class A (c)	35	347
	Volvo AB - Class B (c)	89	897
	Wartsila Oyj (e)	7	338
	West Japan Railway Co.	-	486
	Wolseley Plc (c)	23	566
	Yamato Holdings Co. Ltd.	32	450
	Yangzijiang Shipbuilding Holdings Ltd.	139	115
	Zardoya Otis SA	11	197
			97,174
INFORMATION TECHNOLOGY - 5.2%
	Advantest Corp. (e)	13	335
	Alcatel-Lucent (c)	186	587
	ASM Pacific Technology Ltd.	15	137
	ASML Holding NV (e)	35	1,259
	Atos Origin SA (c)	4	191
	Autonomy Corp. Plc (c)	18	494
	Brother Industries Ltd.	17	209
	Canon Inc.	87	4,011
	Cap Gemini SA	12	594
	Citizen Holdings Co. Ltd.	21	146
	Computershare Ltd.	36	412
	Dassault Systemes SA	5	306
	Elpida Memory Inc. (c)	14	276
	Foxconn International Holdings Ltd. (c)	161	170
	FUJIFILM Holdings Corp.	38	1,302
	Fujitsu Ltd.	148	969
	Hirose Electric Co. Ltd. (e)	3	288
	Hitachi High-Technologies Corp.	5	122
	Hitachi Ltd. (c)	364	1,359
	Hoya Corp.	33	907
	Ibiden Co. Ltd.	10	351
	Indra Sistemas SA	8	170
	Infineon Technologies AG (c) (e)	85	592
	Itochu Techno-Solutions Corp.	2	69
	Keyence Corp.	3	790
	Konami Corp. (e)	7	129
	Konica Minolta Holdings Inc. (e)	39	461
	Kyocera Corp.	13	1,296
	Logitech International SA (c)	15	247
	Mabuchi Motor Co. Ltd.	2	132
	Mitsumi Electric Co. Ltd. (e)	7	147
	Murata Manufacturing Co. Ltd.	17	971
	NEC Corp.	211	634
	Neopost SA	3	210
	Nidec Corp.	9	932
	Nintendo Co. Ltd. (e)	8	2,712
	Nippon Electric Glass Co. Ltd.	28	394
	Nokia Oyj	304	4,734
	Nomura Research Institute Ltd. (e)	8	191
	NTT Data Corp.	-	327
	Obic Co. Ltd.	1	107
	Omron Corp.	16	374
	Oracle Corp. Japan	3	153
	Otsuka Corp. (e)	1	90
	Ricoh Co. Ltd.	54	843
	Rohm Co. Ltd.	8	605
	Sage Group Plc	103	375
	SAP AG	70	3,374
	Seiko Epson Corp. (e)	11	174
	Shimadzu Corp.	20	160
	Shinko Electric Industries Co. Ltd.	6	94
	Square Enix Holdings Co. Ltd. (e)	4	96
	STMicroelectronics NV (e)	54	535
	Sumco Corp. (c) (e)	10	202
	TDK Corp.	9	625
	Telefonaktiebolaget LM Ericsson - Class B	245	2,582
	Tokyo Electron Ltd.	14	909
	Toshiba Corp. (c)	328	1,695
	Trend Micro Inc.	8	279
	United Internet AG (c)	11	165
	Yahoo! Japan Corp.	1	439
	Yaskawa Electric Corp. (e)	19	174
	Yokogawa Electric Corp. (c)	18	153
			43,766
MATERIALS - 10.4%
	Acerinox SA	11	223
	Air Liquide	20	2,450
	Air Water Inc.	11	126
	Akzo Nobel NV	18	1,051
	Alumina Ltd. (c)	195	308
	Amcor Ltd.	101	591
	Anglo American Plc (c)	107	4,661
	Antofagasta Plc	31	489
	ArcelorMittal (e)	70	3,062
	Asahi Kasei Corp.	101	543
	BASF SE	75	4,631
	BHP Billiton Ltd.	272	10,882
	BHP Billiton Plc	179	6,141
	BlueScope Steel Ltd. (c)	148	394
	Boral Ltd.	47	242
	Cimpor Cimentos de Portugal SGPS SA	17	131
	CRH Plc	57	1,421
	Daicel Chemical Industries Ltd.	22	151
	Daido Steel Co. Ltd. (c)	22	92
	Denki Kagaku Kogyo K K	39	168
	Dowa Holdings Co. Ltd.	18	108
	Eramet	-	136
	Eurasian Natural Resources Corp.	21	388
	Fletcher Building Ltd.	51	302
	Fortescue Metals Group Ltd. (c) (e)	98	439
	Fresnillo Plc	15	198
	Givaudan SA	1	527
	HeidelbergCement AG	11	630
	Hitachi Chemical Co. Ltd.	8	166
	Hitachi Metals Ltd.	13	137
	Holcim Ltd. (c)	20	1,492
	Holmen AB (e)	4	98
	Imerys SA	2	154
	Incitec Pivot Ltd.	134	427
	Italcementi SpA (e)	5	57
	James Hardie Industries NV (c)	33	221
	JFE Holdings Inc.	40	1,614
	Johnson Matthey Plc	17	447
	JSR Corp.	14	290
	K+S AG	14	833
	Kaneka Corp.	25	162
	Kansai Paint Co. Ltd.	17	139
	Kazakhmys Plc (c)	17	391
	Kobe Steel Ltd. (c) (e)	207	445
	Koninklijke DSM NV (e)	12	540
	Kuraray Co. Ltd.	29	383
	Lafarge SA	16	1,149
	Linde AG	12	1,470
	Lonmin Plc (c)	12	368
	Maruichi Steel Tube Ltd.	3	69
	Mitsubishi Chemical Holdings Corp.	100	510
	Mitsubishi Gas Chemical Co. Inc.	29	175
	Mitsubishi Materials Corp. (c)	84	242
	Mitsubishi Rayon Co. Ltd. (c)	41	173
	Mitsui Chemicals Inc.	61	185
	Mitsui Mining & Smelting Co. Ltd. (c)	46	138
	Newcrest Mining Ltd.	40	1,191
	Nippon Paper Group Inc. (e)	7	183
	Nippon Steel Corp. (e)	416	1,633
	Nissan Chemical Industries Ltd. (e)	11	154
	Nisshin Steel Co. Ltd.	62	129
	Nitto Denko Corp.	13	505
	Norsk Hydro ASA (c) (e)	57	432
	Novozymes A/S (e)	4	412
	Nufarm Ltd. (e)	12	90
	OJI Paper Co. Ltd. (e)	68	298
	OneSteel Ltd.	111	396
	Orica Ltd.	29	708
	Outokumpu Oyj (e)	10	217
	OZ Minerals Ltd. (c) (e)	263	276
	Randgold Resources Ltd.	7	566
	Rautaruukki Oyj (e)	6	135
	Rexam Plc	71	317
	Rio Tinto Ltd. (e)	35	2,550
	Rio Tinto Plc	111	6,593
	Salzgitter AG	3	295
	Shin-Etsu Chemical Co. Ltd.	33	1,940
	Showa Denko KK	113	255
	Sims Metal Management Ltd.	14	271
	Solvay SA	5	504
	SSAB Svenskt Stal AB - Class A (e)	14	245
	SSAB Svenskt Stal AB - Class B (e)	6	94
	Stora Enso Oyj - Class R (c) (e)	49	370
	Sumitomo Chemical Co. Ltd.	130	635
	Sumitomo Metal Industries Ltd.	268	811
	Sumitomo Metal Mining Co. Ltd.	42	625
	Svenska Cellulosa AB (c)	46	643
	Syngenta AG	8	2,138
	Taiheiyo Cement Corp. (c)	73	105
	Taiyo Nippon Sanso Corp.	22	215
	Teijin Ltd.	77	259
	ThyssenKrupp AG	27	916
	Titan Cement Co. SA	4	106
	Tokuyama Corp.	26	144
	Tokyo Steel Manufacturing Co. Ltd. (e)	7	90
	Toray Industries Inc. (e)	110	642
	Tosoh Corp. (e)	37	94
	Toyo Seikan Kaisha Ltd.	13	228
	Ube Industries Ltd.	84	216
	Umicore	9	318
	UPM-Kymmene Oyj (e)	43	570
	Vedanta Resources Plc	11	452
	Voestalpine AG (e)	10	396
	Wacker Chemie AG	1	191
	Xstrata Plc (c)	155	2,936
	Yamato Kogyo Co. Ltd.	3	100
	Yara International ASA	15	659
			87,208
TELECOMMUNICATION SERVICES - 5.4%
	Belgacom SA (e)	12	469
	BT Group Plc	634	1,191
	Cable & Wireless Worldwide Plc (c)	202	282
	Deutsche Telekom AG	230	3,133
	Elisa Oyj (c)	11	221
	France Telecom SA	151	3,603
	Hellenic Telecommunications Organization SA	19	237
	Iliad SA (e)	1	147
	Inmarsat Plc	34	394
	KDDI Corp.	-	1,232
	Koninklijke KPN NV	136	2,155
	Millicom International Cellular SA	6	561
	Mobistar SA	2	136
	Nippon Telegraph & Telephone Corp.	42	1,782
	NTT DoCoMo Inc. (e)	1	1,909
	PCCW Ltd.	321	96
	Portugal Telecom SGPS SA	46	513
	Singapore Telecommunications Ltd.	650	1,472
	SoftBank Corp.	62	1,522
	StarHub Ltd.	45	74
	Swisscom AG	2	700
	Tele2 AB	26	431
	Telecom Corp. of New Zealand Ltd.	147	227
	Telecom Italia SpA	820	1,181
	Telefonica SA	343	8,135
	Telekom Austria AG	25	352
	Telenor ASA (c)	66	896
	TeliaSonera AB (e)	183	1,301
	Telstra Corp. Ltd.	347	952
	Vodafone Group Plc	4,265	9,837
			45,141
UTILITIES - 5.5%
	A2A SpA (e)	92	172
	Acciona SA	2	231
	AGL Energy Ltd.	36	498
	BKW FMB Energie AG	1	60
	Centrica Plc	418	1,864
	Cheung Kong Infrastructure Holdings Ltd.	36	139
	Chubu Electric Power Co. Inc.	54	1,350
	Chugoku Electric Power Co. Inc. (e)	22	437
	CLP Holdings Ltd. (e)	167	1,193
	Contact Energy Ltd. (c)	25	113
	Drax Group Plc	26	150
	E.ON AG	154	5,696
	EDP Renovaveis SA (c)	17	131
	Electric Power Development Co. Ltd.	10	340
	Electricite de France SA	19	1,029
	Enagas SA	14	304
	ENEL SpA	535	2,992
	Energias de Portugal SA	144	574
	Fortum Oyj (e)	35	865
	Gas Natural SDG SA	19	345
	GDF Suez	101	3,900
	Hokkaido Electric Power Co. Inc. (e)	15	280
	Hokuriku Electric Power Co.	16	345
	Hong Kong & China Gas Co. Ltd.	322	803
	Hongkong Electric Holdings Ltd.	111	658
	Iberdrola Renovables SA	71	295
	Iberdrola SA	299	2,534
	International Power Plc	126	608
	Kansai Electric Power Co. Inc.	62	1,427
	Kyushu Electric Power Co. Inc.	31	679
	National Grid Plc	200	1,951
	Osaka Gas Co. Ltd.	153	548
	Public Power Corp. SA (c)	8	148
	Red Electrica Corp. SA	9	481
	RWE AG	34	3,023
	Scottish & Southern Energy Plc	75	1,260
	Severn Trent Plc	18	331
	Shikoku Electric Power Co. Inc. (e)	14	408
	Snam Rete Gas SpA	118	597
	SP AusNet	110	93
	Suez Environnement SA	22	513
	Terna Rete Elettrica Nazionale SpA (e)	103	444
	Toho Gas Co. Ltd.	34	185
	Tohoku Electric Power Co. Inc.	35	742
	Tokyo Electric Power Co. Inc. (e)	99	2,639
	Tokyo Gas Co. Ltd. (e)	189	833
	United Utilities Group Plc	54	454
	Veolia Environnement	32	1,120
	Verbund - Oesterreichische Elektrizitaetswirtschafts AG (e)	6	245
			46,027
	Total Common Stocks (cost $830,710)		824,774
PREFERRED STOCKS - 0.5%
CONSUMER DISCRETIONARY - 0.2%
	Bayerische Motoren Werke AG	5	159
	Porsche Automobil Holding SE	7	430
	Volkswagen AG	9	792
			1,381
CONSUMER STAPLES - 0.1%
	Henkel AG & Co. KGaA	14	765
	Lindt & Spruengli AG	-	177
			942
HEALTH CARE - 0.1%
	Fresenius SE	6	487
INDUSTRIALS - 0.0%
	Schindler Holding AG (e)	4	332
TELECOMMUNICATION SERVICES - 0.1%
	Telecom Italia SpA - RNC	473	533
UTILITIES - 0.0%
	RWE AG	3	264
	Total Preferred Stocks (cost $4,000)		3,939
RIGHTS - 0.0%
	Lend Lease Corp. Ltd., 04/13/10 (c) (f)	2	1
	Volkswagen AG Rights (c)	12	8
	Total Rights (cost $0)		9
NON-U.S. GOVERNMENT AGENCY ASSET-BACKED SECURITIES - 0.0%
	Sigma Finance, Inc. (d) (f) (u)	$             1,711	73
	Total Non-U.S. Government Agency Asset-Backed Securities (cost $1,711)		73
SHORT TERM INVESTMENTS - 14.0%
Mutual Funds - 3.5%
	JNL Money Market Fund, 0.03% (a) (h)	29,697	29,697
Securities Lending Collateral - 10.4%
	Securities Lending Cash Collateral Fund LLC, 0.24% (a) (h)	75,041	75,041
	Securities Lending Liquidating Fund LLC, 0.38% (a) (h)	12,574	12,574
			87,615
U.S. Treasury Securities - 0.1%
	U.S. Treasury Bill, 0.13%, 06/10/10 (o)	645	645
	Total Short Term Investments (cost $117,957)		117,957
Total Investments - 112.5% (cost $954,378)			946,752
Other Assets and Liabilities, Net -  (12.5%)			(104,930)
Total Net Assets - 100%			$      841,822

JNL/Mellon Capital Management Bond Index Fund
NON-U.S. GOVERNMENT AGENCY ASSET-BACKED SECURITIES - 3.5%
	Banc of America Commercial Mortgage Inc. REMIC, 5.12%, 07/11/43	$                150	$             157
	Banc of America Commercial Mortgage Inc. REMIC, 5.93%, 05/10/45 (i)	1,500	1,554
	Banc of America Commercial Mortgage Inc. REMIC, 5.96%, 05/10/45 (i)	550	481
	Banc of America Commercial Mortgage Inc. REMIC, 4.89%, 07/10/45	370	384
	Banc of America Commercial Mortgage Inc. REMIC, 5.45%, 01/15/49	200	205
	Banc of America Commercial Mortgage Inc. REMIC, 5.45%, 01/15/49	1,500	1,471
	Banc of America Commercial Mortgage Inc. REMIC, 5.48%, 01/15/49 (i)	350	278
	Bear Stearns Commercial Mortgage Securities Inc. REMIC, 5.91%, 06/11/40 (i)	300	296
	Bear Stearns Commercial Mortgage Securities Inc. REMIC, 5.12%, 02/11/41 (i)	1,750	1,803
	Bear Stearns Commercial Mortgage Securities Inc. REMIC, 5.21%, 02/11/44	260	269
	Capital Auto Receivables Asset Trust, 5.21%, 03/17/14	500	523
	Capital One Multi-Asset Execution Trust, 4.70%, 06/15/15	1,000	1,065
	Centerpoint Energy Transition Co. LLC Secured Transition Bond, Series A, 5.17%, 08/01/19	741	823
	Chase Issuance Trust, 4.65%, 12/17/12	95	97
	Citibank Credit Card Issuance Trust, 5.30%, 03/15/18	900	989
	Citigroup Commercial Mortgage Trust REMIC, 5.25%, 04/15/40 (i)	250	260
	Citigroup/Deutsche Bank Commercial Mortgage Trust REMIC, 5.62%, 10/15/48	250	256
	Citigroup/Deutsche Bank Commercial Mortgage Trust REMIC, 5.65%, 10/15/48	500	426
	Credit Suisse First Boston Mortgage Securities Corp. REMIC, 4.94%, 12/15/35	700	734
	Credit Suisse Mortgage Capital Certificates REMIC, 5.66%, 03/15/39 (i)	1,500	1,472
	Credit Suisse Mortgage Capital Certificates REMIC, 5.38%, 02/15/40	250	224
	Credit Suisse Mortgage Capital Certificates REMIC, 5.45%, 01/15/49 (i)	500	512
	CS First Boston Mortgage Securities Corp. REMIC, 5.42%, 05/15/36 (i)	350	367
	CS First Boston Mortgage Securities Corp. REMIC, 4.83%, 04/15/37	680	676
	CS First Boston Mortgage Securities Corp. REMIC, 5.01%, 02/15/38 (i)	800	817
	CS First Boston Mortgage Securities Corp. REMIC, 5.10%, 08/15/38 (i)	350	365
	GE Capital Commercial Mortgage Corp. REMIC, 6.07%, 06/10/38	750	789
	GE Capital Commercial Mortgage Corp. REMIC, 5.51%, 11/10/45 (i)	200	182
	Greenwich Capital Commercial Funding Corp. REMIC, 4.57%, 08/10/42	500	508
	GS Mortgage Securities Corp. II REMIC, 5.56%, 11/10/39	400	396
	GS Mortgage Securities Corp. II REMIC, 6.00%, 08/10/45 (e) (i)	850	788
	JPMorgan Chase Commercial Mortgage Securities Corp. REMIC, 5.82%, 05/12/34	78	81
	JPMorgan Chase Commercial Mortgage Securities Corp. REMIC, 4.88%, 01/12/38 (i)	500	520
	JPMorgan Chase Commercial Mortgage Securities Corp. REMIC, 4.77%, 03/12/39	500	523
	JPMorgan Chase Commercial Mortgage Securities Corp. REMIC, 5.38%, 06/12/41 (i)	850	875
	JPMorgan Chase Commercial Mortgage Securities Corp. REMIC, 4.74%, 07/15/42	500	505
	JPMorgan Chase Commercial Mortgage Securities Corp. REMIC, 4.98%, 07/15/42 (i)	125	53
	JPMorgan Chase Commercial Mortgage Securities Corp. REMIC, 4.94%, 08/15/42 (i)	278	282
	JPMorgan Chase Commercial Mortgage Securities Corp. REMIC, 5.42%, 01/15/49	250	241
	JPMorgan Chase Commercial Mortgage Securities Corp. REMIC, 5.94%, 02/12/49 (i)	200	199
	JPMorgan Chase Commercial Mortgage Securities Corp. REMIC, 5.79%, 02/12/51 (i)	521	520
	LB-UBS Commercial Mortgage Trust REMIC, 3.85%, 05/15/27	189	193
	LB-UBS Commercial Mortgage Trust REMIC, 3.97%, 03/15/29	250	254
	LB-UBS Commercial Mortgage Trust REMIC, 5.59%, 06/15/31	75	80
	LB-UBS Commercial Mortgage Trust REMIC, 4.17%, 05/15/32 (e)	165	169
	LB-UBS Commercial Mortgage Trust REMIC, 5.66%, 03/15/39 (i)	750	768
	LB-UBS Commercial Mortgage Trust REMIC, 5.42%, 02/15/40	330	320
	Merrill Lynch Mortgage Trust REMIC, 5.74%, 08/12/43 (i)	250	257
	Merrill Lynch/Countrywide Commercial Mortgage Trust, 5.74%, 06/12/50 (i)	1,782	1,807
	Merrill Lynch/Countrywide Commercial Mortgage Trust REMIC, 5.64%, 02/12/39 (i)	250	259
	Merrill Lynch/Countrywide Commercial Mortgage Trust REMIC, 5.41%, 07/12/46 (i)	200	201
	Merrill Lynch/Countrywide Commercial Mortgage Trust REMIC, 5.17%, 12/12/49	200	194
	Morgan Stanley Capital I REMIC, 5.81%, 06/12/12 (i)	400	403
	Morgan Stanley Capital I REMIC, 5.81%, 03/12/17 (i)	400	355
	Morgan Stanley Capital I REMIC, 4.80%, 01/13/41	250	257
	Morgan Stanley Capital I REMIC, 5.33%, 11/12/41	250	252
	Morgan Stanley Capital I REMIC, 5.94%, 10/15/42 (i)	270	280
	Sigma Finance, Inc. (d) (f) (u)	2,182	93
	Wachovia Bank Commercial Mortgage Trust REMIC, 4.44%, 11/15/34	56	58
	Wachovia Bank Commercial Mortgage Trust REMIC, 5.22%, 01/15/41	100	103
	Wachovia Bank Commercial Mortgage Trust REMIC, 5.24%, 07/15/41 (i)	250	257
	Wachovia Bank Commercial Mortgage Trust REMIC, 4.89%, 10/15/41	200	165
	Wachovia Bank Commercial Mortgage Trust REMIC, 4.90%, 10/15/41 (i)	500	417
	Wachovia Bank Commercial Mortgage Trust REMIC, 5.12%, 07/15/42 (i)	410	424
	Wachovia Bank Commercial Mortgage Trust REMIC, 5.25%, 12/15/43	500	499
	Wachovia Bank Commercial Mortgage Trust REMIC, 5.34%, 12/15/43	200	174
	Wachovia Bank Commercial Mortgage Trust REMIC, 5.36%, 12/15/44 (i)	200	157
	Wachovia Bank Commercial Mortgage Trust REMIC, 5.42%, 01/15/45 (i)	350	355
	Wachovia Bank Commercial Mortgage Trust REMIC, 6.00%, 06/15/45 (i)	500	329
	Wachovia Bank Commercial Mortgage Trust REMIC, 5.57%, 10/15/48	250	246
	Wachovia Bank Commercial Mortgage Trust REMIC, 5.31%, 11/15/48	1,082	1,117
	Total Non-U.S. Government Agency Asset-Backed Securities (cost $34,670)		33,409
CORPORATE BONDS AND NOTES - 20.6%
CONSUMER DISCRETIONARY - 1.3%
	CBS Corp., 7.88%, 07/30/30 (e)	125	138
	Comcast Cable Communications Holdings Inc., 8.38%, 03/15/13	357	414
	Comcast Cable Communications Holdings Inc., 9.46%, 11/15/22	500	668
	Comcast Corp., 5.30%, 01/15/14	500	538
	Comcast Corp., 6.50%, 01/15/15	50	56
	Comcast Corp., 5.15%, 03/01/20 (e)	1,000	1,009
	Comcast Corp., 5.65%, 06/15/35	100	93
	Comcast Corp., 6.50%, 11/15/35	100	102
	Comcast Corp., 6.95%, 08/15/37 (e)	100	108
	COX Communications Inc., 5.45%, 12/15/14	150	162
	Daimler Finance North America LLC, 6.50%, 11/15/13	100	111
	Daimler Finance North America LLC, 8.50%, 01/18/31 (e)	50	61
	DirecTV Holdings LLC, 3.55%, 03/15/15 (t)	200	197
	Fortune Brands Inc., 5.38%, 01/15/16	250	260
	Grupo Televisa SA, 6.63%, 03/18/25	100	101
	Historic TW Inc., 6.63%, 05/15/29	100	105
	Home Depot Inc., 5.25%, 12/16/13	250	271
	Home Depot Inc., 5.88%, 12/16/36	250	243
	Johnson Controls Inc., 5.50%, 01/15/16	250	268
	Lowe's Cos. Inc., 5.50%, 10/15/35	150	145
	McDonald's Corp., 5.35%, 03/01/18	300	325
	News America Inc., 5.30%, 12/15/14	175	192
	News America Inc., 6.20%, 12/15/34	50	50
	News America Inc., 6.40%, 12/15/35	100	102
	News America Inc., 6.65%, 11/15/37	500	526
	Omnicom Group Inc., 5.90%, 04/15/16	250	271
	Target Corp., 5.88%, 07/15/16	250	283
	Target Corp., 7.00%, 07/15/31	100	113
	Target Corp., 6.50%, 10/15/37	300	326
	Thomson Reuters Corp., 6.50%, 07/15/18	500	564
	Time Warner Cable Inc., 6.20%, 07/01/13	700	772
	Time Warner Cable Inc., 5.85%, 05/01/17	150	161
	Time Warner Cable Inc., 8.75%, 02/14/19 (e)	169	210
	Time Warner Cable Inc., 6.55%, 05/01/37	250	256
	Time Warner Cable Inc., 6.75%, 06/15/39	300	315
	Time Warner Inc., 5.88%, 11/15/16	350	382
	Time Warner Inc., 7.63%, 04/15/31	250	286
	Viacom Inc., 6.25%, 04/30/16	250	276
	Viacom Inc., 5.63%, 09/15/19 (e)	500	519
	Walt Disney Co., 6.38%, 03/01/12	500	548
	Walt Disney Co., 7.00%, 03/01/32	50	59
	Yum! Brands Inc., 8.88%, 04/15/11	50	54
	Yum! Brands Inc., 6.88%, 11/15/37	200	217
			11,857
CONSUMER STAPLES - 1.4%
	Altria Group Inc., 8.50%, 11/10/13 (l)	500	584
	Altria Group Inc., 9.70%, 11/10/18 (l)	500	615
	Anheuser-Busch Cos. Inc., 5.05%, 10/15/16	100	105
	Anheuser-Busch InBev Worldwide Inc., 3.00%, 10/15/12	100	103
	Anheuser-Busch InBev Worldwide Inc., 5.38%, 01/15/20	400	413
	Archer-Daniels-Midland Co., 5.45%, 03/15/18	350	377
	Bottling Group LLC, 6.95%, 03/15/14	200	232
	Bunge Ltd. Finance Corp., 5.35%, 04/15/14	75	78
	Coca-Cola Enterprises Inc., 7.13%, 08/01/17	100	117
	Coca-Cola Enterprises Inc., 8.50%, 02/01/22	250	323
	ConAgra Foods Inc., 7.00%, 04/15/19	300	346
	CVS Caremark Corp., 5.75%, 08/15/11	350	370
	CVS Caremark Corp., 6.13%, 08/15/16	250	276
	CVS Caremark Corp., 5.75%, 06/01/17	500	539
	Diageo Capital Plc, 7.38%, 01/15/14	395	459
	General Mills Inc., 6.00%, 02/15/12	100	109
	General Mills Inc., 5.65%, 09/10/12	500	545
	Kellogg Co., 5.13%, 12/03/12	200	217
	Kimberly-Clark Corp., 5.63%, 02/15/12 (e)	250	270
	Kraft Foods Inc., 5.25%, 10/01/13	400	433
	Kraft Foods Inc., 4.13%, 02/09/16	100	101
	Kraft Foods Inc., 5.38%, 02/10/20	100	102
	Kraft Foods Inc., 6.50%, 11/01/31	100	103
	Kraft Foods Inc., 7.00%, 08/11/37	100	110
	Kraft Foods Inc., 6.88%, 02/01/38	150	162
	Kraft Foods Inc., 6.50%, 02/09/40	100	104
	Kroger Co., 5.50%, 02/01/13	100	108
	Kroger Co., 7.50%, 04/01/31	150	175
	Lorillard Tobacco Co., 8.13%, 06/23/19 (e) (l)	500	551
	Pepsi Bottling Group Inc., 7.00%, 03/01/29	75	88
	PepsiCo Inc., 5.15%, 05/15/12	300	323
	PepsiCo Inc., 7.90%, 11/01/18 (e)	250	310
	Philip Morris International Inc., 6.88%, 03/17/14	500	573
	Philip Morris International Inc., 5.65%, 05/16/18	250	269
	Procter & Gamble Co., 1.35%, 08/26/11	500	504
	Procter & Gamble Co., 4.60%, 01/15/14	500	537
	Procter & Gamble Co., 4.95%, 08/15/14	150	164
	Procter & Gamble Co., 5.55%, 03/05/37	100	101
	Reynolds American Inc., 7.63%, 06/01/16 (e)	250	281
	Safeway Inc., 5.80%, 08/15/12	100	109
	Sara Lee Corp., 6.25%, 09/15/11	75	80
	Walgreen Co., 4.88%, 08/01/13	700	762
	Wal-Mart Stores Inc., 4.55%, 05/01/13	100	108
	Wal-Mart Stores Inc., 5.80%, 02/15/18	350	391
	Wal-Mart Stores Inc., 7.55%, 02/15/30	300	371
	Wal-Mart Stores Inc., 6.20%, 04/15/38	300	323
			13,321
ENERGY - 1.8%
	Alberta Energy Co. Ltd., 7.38%, 11/01/31	100	113
	Anadarko Petroleum Corp., 5.95%, 09/15/16 (e)	100	109
	Anadarko Petroleum Corp., 8.70%, 03/15/19	500	619
	Anadarko Petroleum Corp., 6.45%, 09/15/36	150	153
	Apache Corp., 5.25%, 04/15/13 (e)	250	272
	Canadian Natural Resources Ltd., 5.85%, 02/01/35	150	146
	Canadian Natural Resources Ltd., 6.25%, 03/15/38	300	310
	Cenovus Energy Inc., 4.50%, 09/15/14 (t)	800	835
	CenterPoint Energy Resources Corp., 7.88%, 04/01/13	50	57
	Chevron Corp., 3.45%, 03/03/12	800	833
	Conoco Funding Co., 7.25%, 10/15/31	75	88
	ConocoPhillips, 6.65%, 07/15/18	75	86
	ConocoPhillips, 5.75%, 02/01/19	300	327
	ConocoPhillips, 6.50%, 02/01/39	300	335
	ConocoPhillips Holding Co., 6.95%, 04/15/29	200	230
	Devon Energy Corp., 7.95%, 04/15/32	100	126
	Devon Financing Corp. ULC, 7.88%, 09/30/31	100	124
	Enbridge Energy Partners LP, 7.50%, 04/15/38	200	234
	EnCana Corp., 6.50%, 08/15/34	100	106
	Energy Transfer Partners LP, 5.95%, 02/01/15	250	272
	Energy Transfer Partners LP, 7.50%, 07/01/38	200	224
	Enterprise Products Operating LLC, 4.60%, 08/01/12	425	448
	Enterprise Products Operating LLC, 5.60%, 10/15/14 (e)	25	27
	Enterprise Products Operating LLC, 6.88%, 03/01/33	25	27
	Halliburton Co., 7.45%, 09/15/39	250	305
	Hess Corp., 7.30%, 08/15/31	35	40
	Husky Energy Inc., 7.25%, 12/15/19	500	579
	Kinder Morgan Energy Partners LP, 5.85%, 09/15/12	225	244
	Kinder Morgan Energy Partners LP, 5.00%, 12/15/13	75	80
	Kinder Morgan Energy Partners LP, 6.00%, 02/01/17	150	161
	Kinder Morgan Energy Partners LP, 6.85%, 02/15/20	500	561
	Marathon Oil Corp., 6.13%, 03/15/12	200	218
	Marathon Oil Corp., 5.90%, 03/15/18 (e)	250	267
	Nexen Inc., 5.88%, 03/10/35	50	48
	Nexen Inc., 6.40%, 05/15/37	100	101
	Noble Energy Inc., 8.25%, 03/01/19	300	363
	Occidental Petroleum Corp., 6.75%, 01/15/12	50	55
	ONEOK Partners LP, 6.65%, 10/01/36	150	156
	Pemex Project Funding Master Trust, 5.75%, 03/01/18	500	515
	Pemex Project Funding Master Trust, 6.63%, 06/15/35 (e)	150	148
	Petrobras International Finance Co., 6.13%, 10/06/16	100	108
	Petrobras International Finance Co., 5.88%, 03/01/18 (e)	150	157
	Petrobras International Finance Co., 7.88%, 03/15/19	500	585
	Petro-Canada, 7.00%, 11/15/28	75	82
	Rowan Cos. Inc., 7.88%, 08/01/19	300	344
	Shell International Finance BV, 5.63%, 06/27/11	250	265
	Shell International Finance BV, 5.20%, 03/22/17	250	268
	Shell International Finance BV, 6.38%, 12/18/38	200	220
	Southern Natural Gas Co., 5.90%, 04/01/17 (k) (t)	250	260
	Spectra Energy Capital LLC, 8.00%, 10/01/19	250	295
	StatoilHydro ASA, 5.25%, 04/15/19	500	522
	Suncor Energy Inc., 5.95%, 12/01/34	100	98
	Suncor Energy Inc., 6.50%, 06/15/38	300	313
	TransCanada Pipelines Ltd., 6.50%, 08/15/18 (e)	700	793
	TransCanada Pipelines Ltd., 6.20%, 10/15/37	100	104
	Transocean Inc., 6.80%, 03/15/38	150	168
	Valero Energy Corp., 6.88%, 04/15/12	500	542
	Valero Energy Corp., 7.50%, 04/15/32	100	103
	Weatherford International Inc., 6.35%, 06/15/17	250	268
	Williams Cos. Inc., 8.75%, 03/15/32 (k)	186	227
	Williams Partners LP, 3.80%, 02/15/15 (e) (t)	100	100
	Williams Partners LP, 5.25%, 03/15/20 (t)	100	100
	Williams Partners LP, 6.30%, 04/15/40 (t)	100	99
	XTO Energy Inc., 4.90%, 02/01/14	475	516
	XTO Energy Inc., 6.75%, 08/01/37	350	410
			16,889
FINANCIALS - 9.3%
	Aegon NV, 4.75%, 06/01/13	150	158
	AFLAC Inc., 8.50%, 05/15/19	500	602
	African Development Bank, 1.00%, 11/23/11	1,000	998
	Allstate Corp., 6.13%, 02/15/12	75	81
	Allstate Corp., 5.35%, 06/01/33	75	70
	Allstate Corp., 5.55%, 05/09/35	100	96
	American Express Bank FSB, 5.55%, 10/17/12	1,000	1,078
	American Express Co., 4.88%, 07/15/13	250	264
	American Express Co., 6.15%, 08/28/17 (e)	250	270
	American Express Co., 8.15%, 03/19/38	100	129
	American International Group Inc., 4.25%, 05/15/13 (e) (k)	500	491
	American International Group Inc., 5.85%, 01/16/18	200	186
	Ameriprise Financial Inc., 7.52%, 06/01/66 (i)	250	248
	Asian Development Bank, 3.63%, 09/05/13	500	526
	Asian Development Bank, 4.25%, 10/20/14	250	268
	Asian Development Bank, 5.60%, 07/16/18	400	439
	Assurant Inc., 6.75%, 02/15/34 (e)	100	95
	AXA SA, 8.60%, 12/15/30 (e)	100	121
	Bank of America Corp., 3.13%, 06/15/12	400	416
	Bank of America Corp., 4.88%, 09/15/12	150	157
	Bank of America Corp., 4.88%, 01/15/13	200	209
	Bank of America Corp., 4.90%, 05/01/13	200	209
	Bank of America Corp., 4.50%, 04/01/15	500	504
	Bank of America Corp., 6.50%, 08/01/16	300	324
	Bank of America Corp., 5.75%, 12/01/17	175	179
	Bank of America Corp., 5.65%, 05/01/18	1,000	1,012
	Bank of America Corp., 5.49%, 03/15/19	200	195
	Bank of America NA, 6.00%, 10/15/36	250	231
	Barclays Bank Plc, 5.45%, 09/12/12	500	539
	Barclays Bank Plc, 5.20%, 07/10/14 (e)	1,000	1,068
	Barclays Bank Plc, 6.86% (callable at 100 on 06/15/32) (p) (t)	50	44
	BB&T Capital Trust I, 5.85%, 08/18/35	100	87
	BB&T Capital Trust II, 6.75%, 06/07/36	150	149
	BB&T Corp., 6.50%, 08/01/11	75	79
	Bear Stearns Cos. Inc., 5.70%, 11/15/14	200	218
	Berkshire Hathaway Finance Corp., 4.60%, 05/15/13	100	107
	Berkshire Hathaway Finance Corp., 4.63%, 10/15/13	250	270
	Berkshire Hathaway Finance Corp., 4.85%, 01/15/15	100	107
	Berkshire Hathway Inc., 5.13%, 09/15/12	500	540
	Boeing Capital Corp., 5.80%, 01/15/13	125	138
	Boston Properties LP, 6.25%, 01/15/13	150	163
	BP Capital Markets Plc, 5.25%, 11/07/13	400	440
	Burlington Resources Finance Co., 7.20%, 08/15/31	100	115
	Camden Property Trust, 5.00%, 06/15/15	100	100
	Capital One Bank USA NA, 6.50%, 06/13/13	250	273
	Capital One Capital III, 7.69%, 08/15/36 (i)	100	96
	Capital One Capital V, 10.25%, 08/15/39	400	474
	Capital One Financial Corp., 5.70%, 09/15/11	250	261
	Capital One Financial Corp., 6.15%, 09/01/16	250	259
	Caterpillar Financial Services Corp., 4.75%, 02/17/15	100	107
	Chubb Corp., 5.20%, 04/01/13	100	107
	Cincinnati Financial Corp., 6.13%, 11/01/34	100	89
	Citigroup Funding Inc., 1.38%, 05/05/11	1,000	1,008
	Citigroup Funding Inc., 1.88%, 10/22/12	1,000	1,008
	Citigroup Inc., 6.00%, 02/21/12 (e)	350	371
	Citigroup Inc., 2.13%, 04/30/12	1,000	1,018
	Citigroup Inc., 6.50%, 08/19/13	500	539
	Citigroup Inc., 5.00%, 09/15/14	400	399
	Citigroup Inc., 6.01%, 01/15/15 (e)	500	525
	Citigroup Inc., 5.85%, 08/02/16	250	256
	Citigroup Inc., 5.50%, 02/15/17	350	346
	Citigroup Inc., 6.00%, 08/15/17	250	256
	Citigroup Inc., 6.13%, 11/21/17	700	720
	Citigroup Inc., 6.13%, 05/15/18	400	409
	Citigroup Inc., 8.50%, 05/22/19 (e)	350	409
	Citigroup Inc., 6.00%, 10/31/33 (e)	50	44
	Citigroup Inc., 8.13%, 07/15/39	600	693
	Corp. Andina de Fomento, 6.88%, 03/15/12	150	162
	Credit Suisse New York, 5.50%, 05/01/14	1,200	1,306
	Credit Suisse New York, 3.50%, 03/23/15	500	498
	Credit Suisse USA Inc., 6.13%, 11/15/11	100	107
	Credit Suisse USA Inc., 6.50%, 01/15/12	250	272
	Credit Suisse USA Inc., 5.13%, 08/15/15	200	214
	Credit Suisse USA Inc., 7.13%, 07/15/32 (e)	100	117
	Deutsche Bank Financial LLC, 5.38%, 03/02/15 (t)	250	265
	Diageo Investment Corp., 8.00%, 09/15/22	100	123
	ERP Operating LP, 5.25%, 09/15/14	250	262
	ERP Operating LP, 5.75%, 06/15/17	150	155
	European Investment Bank, 3.13%, 07/15/11	1,000	1,030
	European Investment Bank, 2.00%, 02/10/12 (e)	1,600	1,624
	European Investment Bank, 4.63%, 03/21/12	200	213
	European Investment Bank, 1.75%, 09/14/12 (e)	600	604
	European Investment Bank, 4.63%, 05/15/14	150	162
	European Investment Bank, 3.13%, 06/04/14	500	513
	European Investment Bank, 2.75%, 03/23/15	400	398
	European Investment Bank, 4.88%, 02/16/16	250	271
	European Investment Bank, 5.13%, 09/13/16	500	550
	Export-Import Bank of Korea, 8.13%, 01/21/14	500	580
	Export-Import Bank of Korea, 5.13%, 03/16/15	200	209
	Fifth Third Bancorp, 6.25%, 05/01/13 (e)	300	323
	Fifth Third Capital Trust IV, 6.50%, 04/15/37 (i)	200	168
	General Electric Capital Corp., 5.00%, 11/15/11 (e)	300	317
	General Electric Capital Corp., 3.00%, 12/09/11	500	517
	General Electric Capital Corp., 5.88%, 02/15/12	250	269
	General Electric Capital Corp., 6.00%, 06/15/12	200	217
	General Electric Capital Corp., 5.25%, 10/19/12	400	429
	General Electric Capital Corp., 2.63%, 12/28/12	1,000	1,027
	General Electric Capital Corp., 2.80%, 01/08/13 (e)	200	202
	General Electric Capital Corp., 5.45%, 01/15/13	1,000	1,082
	General Electric Capital Corp., 5.00%, 01/08/16	100	105
	General Electric Capital Corp., 5.63%, 09/15/17	200	211
	General Electric Capital Corp., 5.63%, 05/01/18	700	732
	General Electric Capital Corp., 5.50%, 01/13/20	200	204
	General Electric Capital Corp., 6.75%, 03/15/32	850	899
	General Electric Capital Corp., 5.88%, 01/14/38	400	380
	General Electric Capital Corp., 6.88%, 01/10/39	300	324
	Goldman Sachs Group Inc., 1.63%, 07/15/11	300	303
	Goldman Sachs Group Inc., 6.60%, 01/15/12	400	434
	Goldman Sachs Group Inc., 3.25%, 06/15/12 (e)	400	417
	Goldman Sachs Group Inc., 5.45%, 11/01/12	1,000	1,081
	Goldman Sachs Group Inc., 5.25%, 04/01/13	100	107
	Goldman Sachs Group Inc., 5.13%, 01/15/15	200	211
	Goldman Sachs Group Inc., 5.75%, 10/01/16	250	267
	Goldman Sachs Group Inc., 6.25%, 09/01/17	200	215
	Goldman Sachs Group Inc., 5.95%, 01/18/18	300	315
	Goldman Sachs Group Inc., 6.15%, 04/01/18	75	79
	Goldman Sachs Group Inc., 7.50%, 02/15/19	100	114
	Goldman Sachs Group Inc., 5.38%, 03/15/20	400	396
	Goldman Sachs Group Inc., 5.95%, 01/15/27	250	240
	Goldman Sachs Group Inc., 6.13%, 02/15/33 (e)	850	840
	Goldman Sachs Group Inc., 6.75%, 10/01/37	200	200
	Hartford Financial Services Group Inc., 5.38%, 03/15/17	500	500
	Hartford Financial Services Group Inc., 6.10%, 10/01/41	75	67
	HCP Inc., 6.00%, 01/30/17 (e)	150	149
	HSBC Bank USA, 7.00%, 01/15/39	340	373
	HSBC Finance Capital Trust IX, 5.91%, 11/30/35 (i)	250	221
	HSBC Finance Corp., 4.75%, 07/15/13 (e)	1,000	1,050
	HSBC Holdings Plc, 5.25%, 12/12/12	200	214
	HSBC Holdings Plc, 7.63%, 05/17/32	150	169
	HSBC Holdings Plc, 6.50%, 05/02/36	150	155
	Inter-American Development Bank, 4.38%, 09/20/12	500	535
	Inter-American Development Bank, 1.75%, 10/22/12	490	493
	Inter-American Development Bank, 5.13%, 09/13/16	250	276
	Inter-American Development Bank, 3.88%, 02/14/20	200	197
	International Bank for Reconstruction & Development, 2.00%, 04/02/12	1,000	1,017
	International Bank for Reconstruction & Development, 7.63%, 01/19/23	300	396
	International Lease Finance Corp., 3.00%, 04/22/14	500	507
	Jefferies Group Inc., 6.45%, 06/08/27	100	89
	Jefferies Group Inc., 6.25%, 01/15/36 (e)	500	426
	John Deere Capital Corp., 7.00%, 03/15/12	250	277
	John Deere Capital Corp., 5.75%, 09/10/18 (e)	500	546
	JPMorgan Chase & Co., 3.13%, 12/01/11 (e)	500	517
	JPMorgan Chase & Co., 6.63%, 03/15/12	100	109
	JPMorgan Chase & Co., 5.38%, 10/01/12	1,000	1,082
	JPMorgan Chase & Co., 5.75%, 01/02/13	100	109
	JPMorgan Chase & Co., 4.75%, 03/01/15 (e)	250	263
	JPMorgan Chase & Co., 5.15%, 10/01/15	250	264
	JPMorgan Chase & Co., 6.40%, 10/02/17	500	552
	JPMorgan Chase & Co., 6.00%, 01/15/18	700	760
	JPMorgan Chase Bank NA, 6.00%, 10/01/17	250	267
	JPMorgan Chase Capital XV, 5.88%, 03/15/35	75	68
	JPMorgan Chase Capital XX, 6.55%, 09/29/36 (i)	100	94
	JPMorgan Chase Capital XXV, 6.80%, 10/01/37	600	597
	KeyBank NA, 5.80%, 07/01/14	100	102
	Korea Development Bank, 5.30%, 01/17/13	800	849
	Kreditanstalt fuer Wiederaufbau, 3.75%, 06/27/11	200	207
	Kreditanstalt fuer Wiederaufbau, 2.25%, 04/16/12	1,100	1,123
	Kreditanstalt fuer Wiederaufbau, 1.88%, 01/14/13	200	201
	Kreditanstalt fuer Wiederaufbau, 3.25%, 03/15/13	250	260
	Kreditanstalt fuer Wiederaufbau, 3.50%, 05/16/13	400	419
	Kreditanstalt fuer Wiederaufbau, 4.13%, 10/15/14	650	682
	Kreditanstalt fuer Wiederaufbau, 2.75%, 10/21/14 (e)	500	501
	Kreditanstalt fuer Wiederaufbau, 4.88%, 01/17/17	500	543
	Kreditanstalt fuer Wiederaufbau, 4.88%, 06/17/19	500	536
	Kreditanstalt fuer Wiederaufbau, 0.00%, 06/29/37 (j)	500	123
	Landwirtschaftliche Rentenbank, 5.25%, 07/15/11	500	528
	Landwirtschaftliche Rentenbank, 1.88%, 09/24/12 (e)	500	501
	Landwirtschaftliche Rentenbank, 3.25%, 03/15/13	500	519
	Lehman Brothers Holdings Inc., 6.88%, 07/17/37 (d)	250	1
	Lincoln National Corp., 8.75%, 07/01/19 (e)	500	611
	Marsh & McLennan Cos. Inc., 5.75%, 09/15/15	100	106
	Marshall & Ilsley Bank, 6.38%, 09/01/11	100	102
	MBNA Corp., 7.50%, 03/15/12 (e)	100	109
	Merrill Lynch & Co. Inc., 6.05%, 08/15/12	500	534
	Merrill Lynch & Co. Inc., 5.00%, 01/15/15	550	563
	Merrill Lynch & Co. Inc., 6.05%, 05/16/16	250	255
	Merrill Lynch & Co. Inc., 6.88%, 04/25/18	650	700
	Merrill Lynch & Co. Inc., 7.75%, 05/14/38	400	443
	MetLife Inc., 6.13%, 12/01/11	500	535
	MetLife Inc., 5.00%, 11/24/13	100	106
	MetLife Inc., 7.72%, 02/15/19 (e)	500	584
	MetLife Inc., 5.70%, 06/15/35	100	96
	MetLife Inc., 6.40%, 12/15/36 (i)	100	90
	Morgan Stanley, 5.75%, 08/31/12	500	536
	Morgan Stanley, 5.25%, 11/02/12	500	533
	Morgan Stanley, 4.75%, 04/01/14	450	459
	Morgan Stanley, 5.75%, 10/18/16	250	260
	Morgan Stanley, 5.45%, 01/09/17	350	355
	Morgan Stanley, 6.63%, 04/01/18	500	533
	Morgan Stanley, 5.63%, 09/23/19	300	299
	Morgan Stanley, 5.50%, 01/26/20	500	489
	Morgan Stanley, 7.25%, 04/01/32	25	28
	National City Bank, 4.63%, 05/01/13	100	104
	National Rural Utilities Cooperative Finance Corp., 10.38%, 11/01/18	200	266
	National Rural Utilities Cooperative Finance Corp., 8.00%, 03/01/32	150	179
	Nordic Invest Bank, 3.63%, 06/17/13 (e)	600	631
	Oesterreichische Kontrollbank AG, 4.75%, 11/08/11	250	263
	Oesterreichische Kontrollbank AG, 4.75%, 10/16/12	650	699
	Oesterreichische Kontrollbank AG, 1.75%, 03/11/13	300	300
	ORIX Corp., 5.48%, 11/22/11	200	207
	PNC Funding Corp., 5.25%, 11/15/15	250	263
	PNC Funding Corp., 6.70%, 06/10/19 (e)	500	559
	Principal Life Income Funding Trusts, 5.10%, 04/15/14	150	157
	ProLogis, 5.63%, 11/15/16	250	242
	ProLogis, 7.38%, 10/30/19	200	205
	Prudential Financial Inc., 5.75%, 07/15/33 (e)	400	379
	Prudential Financial Inc., 5.70%, 12/14/36	250	237
	Realty Income Corp., 6.75%, 08/15/19	150	157
	Regions Financial Corp., 7.75%, 11/10/14 (e)	400	421
	Royal Bank of Scotland Group Plc, 5.00%, 10/01/14	100	96
	Royal Bank of Scotland Plc, 4.88%, 03/16/15	300	300
	Simon Property Group LP, 5.75%, 12/01/15	400	423
	Simon Property Group LP, 5.25%, 12/01/16	250	248
	Simon Property Group LP, 6.75%, 02/01/40	100	99
	SLM Corp., 5.00%, 10/01/13	520	497
	SLM Corp., 5.05%, 11/14/14	250	231
	SLM Corp., 8.00%, 03/25/20	100	97
	SunTrust Bank, 6.38%, 04/01/11	200	209
	SunTrust Capital VIII, 6.10%, 12/15/36 (i)	99	81
	Teco Finance Inc., 5.15%, 03/15/20	200	198
	Toll Brothers Finance Corp., 4.95%, 03/15/14	50	51
	Transatlantic Holdings Inc., 5.75%, 12/14/15	200	204
	Travelers Cos. Inc., 6.25%, 03/15/37 (i)	250	246
	Travelers Cos. Inc., 6.25%, 06/15/37	150	159
	U.S. Bank NA, 6.38%, 08/01/11	600	639
	UBS AG Stamford, 5.88%, 07/15/16	250	257
	UBS AG Stamford, 5.88%, 12/20/17	250	259
	Wachovia Bank NA, 4.88%, 02/01/15	200	207
	Wachovia Bank NA, 6.00%, 11/15/17	250	271
	Wachovia Bank NA, 5.85%, 02/01/37	250	233
	Wachovia Corp., 5.30%, 10/15/11	300	317
	Wachovia Corp., 5.50%, 05/01/13	500	540
	Wachovia Corp., 5.25%, 08/01/14 (e)	250	263
	Washington Mutual Bank, 5.13%, 01/15/15 (d)	200	1
	Wells Fargo & Co., 5.30%, 08/26/11	500	527
	Wells Fargo & Co., 2.13%, 06/15/12 (e)	300	305
	Wells Fargo & Co., 5.00%, 11/15/14	200	209
	Wells Fargo & Co., 3.63%, 04/15/15	900	893
	Wells Fargo & Co., 5.63%, 12/11/17	300	318
	Wells Fargo Bank NA, 4.75%, 02/09/15	250	260
	Wells Fargo Financial Inc., 5.50%, 08/01/12	250	268
	Westpac Banking Corp., 2.25%, 11/19/12 (e)	300	302
	Westpac Banking Corp., 4.20%, 02/27/15	500	515
			88,399
HEALTH CARE - 1.3%
	Abbott Laboratories, 5.88%, 05/15/16	250	283
	Abbott Laboratories, 6.00%, 04/01/39	250	265
	Aetna Inc., 6.63%, 06/15/36	150	158
	Amgen Inc., 5.85%, 06/01/17	200	222
	Amgen Inc., 6.38%, 06/01/37	400	430
	AstraZeneca Plc, 5.90%, 09/15/17	250	279
	AstraZeneca Plc, 6.45%, 09/15/37	250	278
	Baxter International Inc., 4.00%, 03/01/14	500	523
	Baxter International Inc., 4.63%, 03/15/15	75	80
	Baxter International Inc., 4.25%, 03/15/20	500	495
	Bristol-Myers Squibb Co., 5.45%, 05/01/18	150	161
	Bristol-Myers Squibb Co., 5.88%, 11/15/36	150	154
	CIGNA Corp., 8.50%, 05/01/19	400	485
	Covidien International Finance SA, 6.00%, 10/15/17	300	329
	Eli Lilly & Co., 5.55%, 03/15/37	100	100
	Express Scripts Inc., 5.25%, 06/15/12	200	213
	Genentech Inc., 4.75%, 07/15/15	50	53
	Genentech Inc., 5.25%, 07/15/35	250	234
	GlaxoSmithKline Capital Inc., 4.38%, 04/15/14	150	158
	GlaxoSmithKline Capital Inc., 5.65%, 05/15/18	250	271
	GlaxoSmithKline Capital Inc., 5.38%, 04/15/34	150	146
	Hospira Inc., 6.05%, 03/30/17	500	537
	Humana Inc., 7.20%, 06/15/18 (l)	500	541
	Johnson & Johnson, 5.95%, 08/15/37	250	271
	Medtronic Inc., 4.45%, 03/15/20	700	697
	Merck & Co. Inc., 4.75%, 03/01/15	250	270
	Merck & Co. Inc., 6.55%, 09/15/37	300	343
	Novartis Capital Corp., 4.13%, 02/10/14	800	847
	Pfizer Inc., 4.45%, 03/15/12	500	530
	Pfizer Inc., 6.20%, 03/15/19	500	565
	Pharmacia Corp., 6.60%, 12/01/28 (k)	50	56
	Schering-Plough Corp., 6.00%, 09/15/17	250	281
	Schering-Plough Corp., 6.50%, 12/01/33 (e) (l)	350	392
	Teva Pharmaceutical Finance LLC, 6.15%, 02/01/36 (e)	150	156
	Thermo Fisher Scientific Inc., 5.00%, 06/01/15	200	210
	UnitedHealth Group Inc., 5.38%, 03/15/16	250	263
	UnitedHealth Group Inc., 5.80%, 03/15/36 (e)	150	140
	WellPoint Inc., 5.85%, 01/15/36	100	97
	Wyeth, 5.50%, 03/15/13 (l)	100	109
	Wyeth, 6.45%, 02/01/24	100	114
	Wyeth, 5.95%, 04/01/37	250	262
			11,998
INDUSTRIALS - 1.2%
	3M Co., 5.70%, 03/15/37	150	155
	Boeing Co., 4.88%, 02/15/20	500	512
	Burlington Northern Santa Fe Corp., 5.90%, 07/01/12	150	163
	Burlington Northern Santa Fe Corp., 4.70%, 10/01/19	300	297
	Burlington Northern Santa Fe Corp., 6.15%, 05/01/37	100	103
	Canadian National Railway Co., 5.55%, 03/01/19	400	430
	Caterpillar Inc., 7.90%, 12/15/18 (e)	500	614
	Caterpillar Inc., 6.05%, 08/15/36	150	158
	CSX Corp., 6.30%, 03/15/12	250	270
	CSX Corp., 7.38%, 02/01/19	300	350
	Emerson Electric Co., 5.00%, 12/15/14	100	109
	GE Capital Trust I, 6.38%, 11/15/67 (i)	500	467
	General Dynamics Corp., 4.25%, 05/15/13	250	267
	General Electric Co., 5.00%, 02/01/13	800	862
	Honeywell International Inc., 6.13%, 11/01/11	100	108
	Honeywell International Inc., 5.00%, 02/15/19 (e)	500	521
	Koninklijke Philips Electronics NV, 5.75%, 03/11/18	350	373
	Lockheed Martin Corp., 6.15%, 09/01/36	175	185
	Norfolk Southern Corp., 5.90%, 06/15/19 (e)	300	324
	Norfolk Southern Corp., 7.25%, 02/15/31	75	87
	Norfolk Southern Corp., 7.05%, 05/01/37	100	116
	Northrop Grumman Systems Corp., 7.75%, 03/01/16	150	181
	Northrop Grumman Systems Corp., 5.05%, 08/01/19	210	216
	Northrop Grumman Systems Corp., 7.75%, 02/15/31	200	245
	PACCAR Inc., 6.89%, 02/15/14 (e)	700	799
	Raytheon Co., 5.38%, 04/01/13	100	109
	Republic Services Inc., 5.00%, 03/01/20 (t)	300	294
	RR Donnelley & Sons Co., 4.95%, 04/01/14	200	201
	RR Donnelley & Sons Co., 5.50%, 05/15/15	50	50
	Tyco International Group SA, 6.38%, 10/15/11	91	98
	Tyco International Group SA, 6.00%, 11/15/13	500	553
	Union Pacific Corp., 5.70%, 08/15/18	250	263
	Union Pacific Corp., 6.63%, 02/01/29	25	27
	United Parcel Service Inc., 6.20%, 01/15/38	350	381
	United Technologies Corp., 4.88%, 05/01/15	300	325
	United Technologies Corp., 6.13%, 02/01/19 (e)	250	281
	United Technologies Corp., 6.70%, 08/01/28	50	56
	United Technologies Corp., 5.70%, 04/15/40	500	506
	Waste Management Inc., 6.38%, 11/15/12	500	554
	Waste Management Inc., 6.10%, 03/15/18	200	215
			11,825
INFORMATION TECHNOLOGY - 0.6%
	Amphenol Corp., 4.75%, 11/15/14	600	617
	Cisco Systems Inc., 2.90%, 11/17/14	500	506
	Cisco Systems Inc., 5.50%, 02/22/16	250	279
	Cisco Systems Inc., 5.90%, 02/15/39	250	254
	Fiserv Inc., 6.13%, 11/20/12	500	544
	Hewlett-Packard Co., 6.50%, 07/01/12	250	277
	Hewlett-Packard Co., 4.50%, 03/01/13	800	857
	International Business Machines Corp., 5.70%, 09/14/17	300	332
	International Business Machines Corp., 6.50%, 01/15/28	200	223
	International Business Machines Corp., 5.60%, 11/30/39	330	333
	Oracle Corp., 5.75%, 04/15/18	350	384
	Oracle Corp., 6.13%, 07/08/39	300	319
	Xerox Corp., 6.88%, 08/15/11	150	159
	Xerox Corp., 6.35%, 05/15/18	500	542
			5,626
MATERIALS - 0.9%
	Agrium Inc., 7.13%, 05/23/36	300	323
	Air Products & Chemicals Inc., 4.38%, 08/21/19	400	389
	Alcoa Inc., 5.38%, 01/15/13	50	52
	Alcoa Inc., 5.55%, 02/01/17	200	201
	Alcoa Inc., 6.75%, 07/15/18 (e)	300	311
	ArcelorMittal, 9.85%, 06/01/19 (e)	500	635
	Barrick Gold Corp., 5.95%, 10/15/39 (e)	300	295
	BHP Billiton Finance USA Ltd., 4.80%, 04/15/13	100	107
	BHP Billiton Finance USA Ltd., 5.50%, 04/01/14	100	110
	CRH America Inc., 6.00%, 09/30/16 (e)	250	269
	Dow Chemical Co., 6.00%, 10/01/12	50	54
	Dow Chemical Co., 7.38%, 11/01/29	500	558
	EI Du Pont de Nemours & Co., 4.75%, 11/15/12	100	107
	EI Du Pont de Nemours & Co., 5.60%, 12/15/36	400	395
	Freeport-McMoRan Copper & Gold Inc., 8.38%, 04/01/17	700	779
	International Paper Co., 7.95%, 06/15/18	150	175
	International Paper Co., 8.70%, 06/15/38 (e)	300	371
	Lafarge SA, 6.50%, 07/15/16	250	265
	Newmont Mining Corp., 5.88%, 04/01/35	50	48
	Newmont Mining Corp., 6.25%, 10/01/39	400	400
	Potash Corp. of Saskatchewan Inc., 5.25%, 05/15/14	500	541
	Praxair Inc., 3.95%, 06/01/13	100	105
	Rio Tinto Alcan Inc., 4.88%, 09/15/12	50	53
	Rio Tinto Alcan Inc., 6.13%, 12/15/33	25	26
	Rio Tinto Finance USA Ltd., 5.88%, 07/15/13	800	879
	RPM International Inc., 6.13%, 10/15/19	200	208
	Southern Copper Corp., 7.50%, 07/27/35	150	156
	Vale Overseas Ltd., 6.25%, 01/11/16	100	108
	Vale Overseas Ltd., 6.25%, 01/23/17	150	163
	Vale Overseas Ltd., 8.25%, 01/17/34	500	586
	Vale Overseas Ltd., 6.88%, 11/21/36 (e)	100	103
			8,772
TELECOMMUNICATION SERVICES - 1.3%
	America Movil SAB de CV, 6.38%, 03/01/35	200	201
	AT&T Corp., 8.00%, 11/15/31 (l)	500	608
	AT&T Inc., 5.88%, 02/01/12	100	107
	AT&T Inc., 4.95%, 01/15/13	750	806
	AT&T Inc., 5.10%, 09/15/14	550	595
	AT&T Inc., 6.15%, 09/15/34	350	346
	AT&T Inc., 6.30%, 01/15/38 (e)	100	101
	AT&T Inc., 6.55%, 02/15/39	250	263
	AT&T Wireless Services Inc., 8.75%, 03/01/31	108	139
	BellSouth Capital Funding Corp., 7.88%, 02/15/30 (e)	100	116
	BellSouth Corp., 5.20%, 09/15/14	100	108
	British Telecommunications Plc, 9.63%, 12/15/30 (l)	150	189
	CenturyTel Inc., 6.00%, 04/01/17	250	255
	Deutsche Telekom International Finance BV, 5.25%, 07/22/13	200	214
	Deutsche Telekom International Finance BV, 5.75%, 03/23/16	250	269
	Deutsche Telekom International Finance BV, 8.75%, 06/15/30 (l)	100	128
	Embarq Corp., 8.00%, 06/01/36	100	101
	France Telecom SA, 8.50%, 03/01/31 (l)	250	332
	GTE Corp., 6.84%, 04/15/18	250	276
	GTE Corp., 6.94%, 04/15/28	50	52
	Motorola Inc., 6.63%, 11/15/37 (e)	200	188
	Qwest Corp., 8.38%, 05/01/16	500	562
	Qwest Corp., 6.50%, 06/01/17	250	260
	Qwest Corp., 7.25%, 09/15/25	110	111
	Rogers Communications Inc., 6.80%, 08/15/18	500	569
	Southwestern Bell Telephone LP, 7.00%, 07/01/15	100	115
	Telecom Italia Capital SA, 5.25%, 11/15/13	500	524
	Telecom Italia Capital SA, 4.95%, 09/30/14	100	103
	Telecom Italia Capital SA, 5.25%, 10/01/15	200	205
	Telecom Italia Capital SA, 6.38%, 11/15/33	50	46
	Telecom Italia Capital SA, 6.00%, 09/30/34	100	89
	Telefonica Emisiones SAU, 5.88%, 07/15/19 (e)	500	536
	Telefonica Europe BV, 8.25%, 09/15/30	200	245
	TELUS Corp., 8.00%, 06/01/11	140	151
	Verizon Communications Inc., 5.85%, 09/15/35	350	341
	Verizon Communications Inc., 6.90%, 04/15/38	300	331
	Verizon Global Funding Corp., 7.75%, 12/01/30	200	238
	Verizon New England Inc., 6.50%, 09/15/11	250	266
	Verizon Wireless Capital LLC, 7.38%, 11/15/13	750	868
	Vodafone Group Plc, 5.00%, 12/16/13	150	162
	Vodafone Group Plc, 5.38%, 01/30/15 (e)	100	107
	Vodafone Group Plc, 5.63%, 02/27/17	600	642
			11,865
UTILITIES - 1.5%
	Alabama Power Co., 6.00%, 03/01/39 (e)	250	260
	Browning-Ferris Industries Inc., 7.40%, 09/15/35	95	105
	Consolidated Edison Co. of New York Inc., 5.30%, 03/01/35	250	233
	Constellation Energy Group Inc., 7.60%, 04/01/32	150	172
	Consumers Energy Co., 5.50%, 08/15/16	25	27
	Consumers Energy Co., 6.70%, 09/15/19	400	452
	Detroit Edison Co., 5.60%, 06/15/18	250	265
	Dominion Resources Inc., 8.88%, 01/15/19 (e)	350	442
	Dominion Resources Inc., 7.00%, 06/15/38 (e)	200	228
	Duke Energy Carolinas LLC, 5.63%, 11/30/12	150	164
	Duke Energy Carolinas LLC, 5.30%, 10/01/15	200	219
	Duke Energy Carolinas LLC, 5.30%, 02/15/40	300	284
	Duke Energy Corp., 6.30%, 02/01/14	700	780
	Energy East Corp., 6.75%, 07/15/36	150	160
	Enersis SA, 7.40%, 12/01/16	150	164
	Exelon Generation Co. LLC, 5.35%, 01/15/14	150	160
	Exelon Generation Co. LLC, 6.20%, 10/01/17	200	218
	First Energy Solutions Corp., 6.80%, 08/15/39	200	196
	FirstEnergy Corp., 6.45%, 11/15/11	6	6
	FirstEnergy Corp., 7.38%, 11/15/31	425	440
	Florida Power & Light Co., 5.63%, 04/01/34	100	98
	Florida Power & Light Co., 5.95%, 02/01/38	250	256
	Florida Power Corp., 5.65%, 06/15/18	500	541
	Florida Power Corp., 4.55%, 04/01/20 (e)	300	298
	FPL Group Capital Inc., 6.00%, 03/01/19	100	107
	Indiana Michigan Power Co., 7.00%, 03/15/19	350	395
	MidAmerican Energy Co., 6.75%, 12/30/31	50	56
	MidAmerican Energy Holdings Co., 5.88%, 10/01/12	100	109
	MidAmerican Energy Holdings Co., 6.13%, 04/01/36	350	353
	National Grid Plc, 6.30%, 08/01/16 (e)	150	167
	Nevada Power Co., 7.13%, 03/15/19	250	282
	NiSource Finance Corp., 5.40%, 07/15/14	75	79
	NiSource Finance Corp., 6.80%, 01/15/19	300	326
	Northern States Power Co., 8.00%, 08/28/12	100	114
	Northern States Power Co., 5.25%, 03/01/18	500	524
	Ohio Power Co., 6.00%, 06/01/16	250	274
	Oncor Electric Delivery Co., 6.38%, 01/15/15	150	166
	Oncor Electric Delivery Co., 7.00%, 09/01/22 (e)	150	171
	Pacific Gas & Electric Co., 4.80%, 03/01/14	250	268
	Pacific Gas & Electric Co., 6.05%, 03/01/34	500	515
	PacifiCorp, 5.75%, 04/01/37	150	149
	Pepco Holdings Inc., 6.45%, 08/15/12	225	241
	Progress Energy Inc., 7.75%, 03/01/31	150	177
	PSEG Power LLC, 8.63%, 04/15/31	75	96
	Public Service Co. of Colorado, 7.88%, 10/01/12	500	573
	Public Service Electric & Gas Co., 5.50%, 03/01/40	200	197
	Puget Sound Energy Inc., 5.78%, 10/01/39	200	194
	SCANA Corp., 6.88%, 05/15/11	75	79
	Scottish Power Ltd., 5.38%, 03/15/15	50	53
	Sempra Energy, 6.00%, 02/01/13	250	270
	South Carolina Electric & Gas Co., 6.05%, 01/15/38 (e)	400	416
	Southern California Edison Co., 6.00%, 01/15/34	75	78
	Southern California Edison Co., 5.95%, 02/01/38	400	416
	Southwestern Electric Power Co., 6.20%, 03/15/40	200	200
	Union Electric Co., 6.40%, 06/15/17	100	110
	Veolia Environnement, 6.00%, 06/01/18 (e)	200	214
	Virginia Electric & Power Co., 5.95%, 09/15/17 (e)	250	273
	Virginia Electric & Power Co., 6.00%, 01/15/36	150	155
			13,965
	Total Corporate Bonds and Notes (cost $189,122)		194,517
GOVERNMENT AND AGENCY OBLIGATIONS - 73.7%
GOVERNMENT SECURITIES - 31.4%
Municipals - 0.3%
	Bay Area Toll Authority, 6.26%, 04/01/49	200	200
	City of New York, 5.97%, 03/01/36	200	196
	Dallas County Hospital District, Series C, 5.62%, 08/15/44	300	302
	Indianapolis Local Public Improvement Bond Bank, 6.12%, 01/15/40	200	202
	Municipal Electric Authority of Georgia, 7.06%, 04/01/57	400	388
	New Jersey Economic Development Authority (insured by MBIA Insurance Corp.), 7.43%, 02/15/29	200	219
	New Jersey State Turnpike Authority - Series B (insured by AMBAC Assurance Corp.) 4.25%, 01/01/16	95	96
	New Jersey State Turnpike Authority - Series B (Prerefunded at 01/01/15, insured by AMBAC Assurance Corp.) 4.25%, 01/01/16	5	5
	New York City Municipal Water Finance Authority, 6.01%, 06/15/42	200	202
	State of California Various Purpose Bond, 7.50%, 04/01/34	500	516
	State of Illinois, 5.10%, 06/01/33	700	574
	Tobacco Settlement Authority of West Virgina, 7.47%, 06/01/47	500	396
			3,296
Sovereign - 1.9%
	Brazilian Government International Bond, 11.00%, 01/11/12	315	367
	Brazilian Government International Bond, 7.88%, 03/07/15 (e)	565	668
	Brazilian Government International Bond, 8.88%, 04/15/24	135	178
	Brazilian Government International Bond, 10.13%, 05/15/27	235	345
	Brazilian Government International Bond, 7.13%, 01/20/37	455	518
	Brazilian Government International Bond, 11.00%, 08/17/40 (e)	300	402
	Chile Government International Bond, 5.50%, 01/15/13 (e)	100	109
	Eksportfinans ASA, 5.00%, 02/14/12	500	534
	Eksportfinans ASA, 3.00%, 11/17/14	500	502
	Export Development Canada, 2.38%, 03/19/12	500	512
	Federal Republic of Brazil, 12.25%, 03/06/30	220	382
	Financement-Quebec, 5.00%, 10/25/12	100	107
	Hungary Government International Bond, 4.75%, 02/03/15 (e)	250	257
	Hydro Quebec, 8.00%, 02/01/13	250	290
	Hydro Quebec, 7.50%, 04/01/16	100	121
	Hydro Quebec, 9.40%, 02/01/21	250	340
	Israel Government International Bond, 4.63%, 06/15/13	75	80
	Israel Government International Bond, 5.50%, 11/09/16	450	495
	Italy Government International Bond, 5.63%, 06/15/12 (e)	250	270
	Italy Government International Bond, 4.38%, 06/15/13	100	106
	Italy Government International Bond, 4.50%, 01/21/15	1,000	1,050
	Italy Government International Bond, 6.88%, 09/27/23	450	516
	Italy Government International Bond, 5.38%, 06/15/33	100	99
	Japan Bank of International Cooperation, 2.13%, 11/05/12	500	505
	Japan Finance Corp., 2.00%, 06/24/11	500	505
	Malaysia Government Bond, 7.50%, 07/15/11	300	323
	Mexico Government International Bond, 7.50%, 01/14/12 (e)	100	111
	Mexico Government International Bond, 6.38%, 01/16/13	339	376
	Mexico Government International Bond, 5.88%, 01/15/14 (e)	250	275
	Mexico Government International Bond, 6.63%, 03/03/15	93	105
	Mexico Government International Bond, 5.63%, 01/15/17	250	268
	Mexico Government International Bond, 7.50%, 04/08/33 (e)	250	298
	Mexico Government International Bond, 6.75%, 09/27/34	300	330
	Peru Government International Bond, 7.13%, 03/30/19	200	232
	Poland Government International Bond, 5.00%, 10/19/15	650	686
	Province of Manitoba, Canada, 5.00%, 02/15/12 (e)	250	268
	Province of New Brunswick, Canada, 5.20%, 02/21/17	250	273
	Province of Nova Scotia, Canada, 5.75%, 02/27/12	100	108
	Province of Nova Scotia, Canada, 8.75%, 04/01/22	250	332
	Province of Ontario, Canada, 1.88%, 11/19/12 (e)	700	704
	Province of Ontario, Canada, 4.50%, 02/03/15 (e)	100	107
	Province of Ontario, Canada, 5.45%, 04/27/16	250	276
	Province of Ontario, Canada, 4.00%, 10/07/19 (e)	500	491
	Province of Quebec, Canada, 4.60%, 05/26/15	250	268
	Province of Quebec, Canada, 7.50%, 07/15/23	100	124
	Province of Quebec, Canada, 7.13%, 02/09/24	250	300
	Republic of Korea, 5.13%, 12/07/16	150	158
	Republic of Korea, 5.63%, 11/03/25	250	255
	Republic of Peru, 6.55%, 03/14/37 (e)	250	268
	Republic of South Africa Government Bond, 5.50%, 03/09/20	200	202
	South Africa Government International Bond, 7.38%, 04/25/12	100	109
	South Africa Government International Bond, 6.50%, 06/02/14	200	220
	Svensk Exportkredit AB, 5.13%, 03/01/17	200	218
	Tennessee Valley Authority, 5.50%, 07/18/17	1,000	1,114
			18,057
U.S. Treasury Securities - 29.2%
	U.S. Treasury Bond, 10.63%, 08/15/15	450	630
	U.S. Treasury Bond, 7.50%, 11/15/16	840	1,061
	U.S. Treasury Bond, 8.75%, 05/15/17 (e)	645	872
	U.S. Treasury Bond, 8.88%, 08/15/17	780	1,065
	U.S. Treasury Bond, 9.13%, 05/15/18 (e)	315	441
	U.S. Treasury Bond, 8.88%, 02/15/19 (e)	590	824
	U.S. Treasury Bond, 8.13%, 08/15/19	1,900	2,555
	U.S. Treasury Bond, 8.50%, 02/15/20	1,340	1,853
	U.S. Treasury Bond, 8.75%, 08/15/20	910	1,286
	U.S. Treasury Bond, 7.88%, 02/15/21	1,520	2,044
	U.S. Treasury Bond, 8.13%, 05/15/21	1,200	1,643
	U.S. Treasury Bond, 8.00%, 11/15/21	1,050	1,431
	U.S. Treasury Bond, 7.25%, 08/15/22	800	1,040
	U.S. Treasury Bond, 7.13%, 02/15/23	855	1,102
	U.S. Treasury Bond, 6.25%, 08/15/23	595	715
	U.S. Treasury Bond, 7.50%, 11/15/24	1,700	2,283
	U.S. Treasury Bond, 7.63%, 02/15/25	539	732
	U.S. Treasury Bond, 6.88%, 08/15/25	410	524
	U.S. Treasury Bond, 6.00%, 02/15/26	730	861
	U.S. Treasury Bond, 6.75%, 08/15/26	2,000	2,540
	U.S. Treasury Bond, 6.50%, 11/15/26	260	323
	U.S. Treasury Bond, 6.63%, 02/15/27	545	685
	U.S. Treasury Bond, 6.38%, 08/15/27	380	467
	U.S. Treasury Bond, 6.13%, 11/15/27	1,905	2,282
	U.S. Treasury Bond, 5.50%, 08/15/28	850	952
	U.S. Treasury Bond, 5.25%, 11/15/28	570	621
	U.S. Treasury Bond, 5.25%, 02/15/29	545	593
	U.S. Treasury Bond, 6.13%, 08/15/29	405	488
	U.S. Treasury Bond, 6.25%, 05/15/30	385	471
	U.S. Treasury Bond, 5.38%, 02/15/31	250	276
	U.S. Treasury Bond, 4.50%, 02/15/36	2,350	2,295
	U.S. Treasury Bond, 4.75%, 02/15/37	2,440	2,474
	U.S. Treasury Bond, 5.00%, 05/15/37	250	263
	U.S. Treasury Bond, 4.38%, 02/15/38	800	761
	U.S. Treasury Bond, 4.50%, 05/15/38	740	718
	U.S. Treasury Bond, 3.50%, 02/15/39	1,500	1,214
	U.S. Treasury Bond, 4.25%, 05/15/39	2,580	2,391
	U.S. Treasury Bond, 4.50%, 08/15/39	2,500	2,414
	U.S. Treasury Bond, 4.38%, 11/15/39	2,500	2,364
	U.S. Treasury Bond, 4.63%, 02/15/40 (e)	1,200	1,183
	U.S. Treasury Note, 0.88%, 03/31/11	2,700	2,711
	U.S. Treasury Note, 4.75%, 03/31/11	2,000	2,085
	U.S. Treasury Note, 0.88%, 04/30/11	2,500	2,510
	U.S. Treasury Note, 4.88%, 04/30/11	1,540	1,613
	U.S. Treasury Note, 0.88%, 05/31/11	2,300	2,310
	U.S. Treasury Note, 4.88%, 05/31/11	1,830	1,923
	U.S. Treasury Note, 1.13%, 06/30/11	2,000	2,015
	U.S. Treasury Note, 1.00%, 07/31/11	2,500	2,513
	U.S. Treasury Note, 4.88%, 07/31/11	2,655	2,805
	U.S. Treasury Note, 5.00%, 08/15/11	1,975	2,094
	U.S. Treasury Note, 1.00%, 08/31/11	3,200	3,215
	U.S. Treasury Note, 4.63%, 08/31/11	1,900	2,006
	U.S. Treasury Note, 4.50%, 09/30/11 (e)	2,670	2,820
	U.S. Treasury Note, 1.00%, 10/31/11 (e)	1,650	1,656
	U.S. Treasury Note, 4.63%, 10/31/11 (e)	1,050	1,114
	U.S. Treasury Note, 1.75%, 11/15/11 (e)	1,000	1,015
	U.S. Treasury Note, 0.75%, 11/31/11	3,000	2,996
	U.S. Treasury Note, 4.50%, 11/30/11	2,200	2,334
	U.S. Treasury Note, 1.13%, 12/15/11	1,500	1,507
	U.S. Treasury Note, 1.00%, 12/31/11	2,500	2,505
	U.S. Treasury Note, 1.13%, 01/15/12	3,900	3,914
	U.S. Treasury Note, 0.88%, 01/31/12	2,600	2,597
	U.S. Treasury Note, 4.75%, 01/31/12 (e)	1,720	1,840
	U.S. Treasury Note, 1.38%, 02/15/12	4,200	4,233
	U.S. Treasury Note, 4.88%, 02/15/12	1,725	1,851
	U.S. Treasury Note, 0.88%, 02/29/12	2,500	2,495
	U.S. Treasury Note, 4.63%, 02/29/12	1,455	1,557
	U.S. Treasury Note, 4.50%, 03/31/12	1,600	1,711
	U.S. Treasury Note, 1.38%, 04/15/12	1,010	1,017
	U.S. Treasury Note, 4.50%, 04/30/12 (e)	355	380
	U.S. Treasury Note, 1.38%, 05/15/12	2,500	2,515
	U.S. Treasury Note, 4.75%, 05/31/12 (e)	2,275	2,452
	U.S. Treasury Note, 4.88%, 06/30/12	1,000	1,083
	U.S. Treasury Note, 1.50%, 07/15/12	2,500	2,520
	U.S. Treasury Note, 4.63%, 07/31/12	2,040	2,202
	U.S. Treasury Note, 4.38%, 08/15/12	1,900	2,042
	U.S. Treasury Note, 4.13%, 08/31/12	1,850	1,977
	U.S. Treasury Note, 4.25%, 09/30/12	780	837
	U.S. Treasury Note, 1.38%, 10/15/12	2,500	2,503
	U.S. Treasury Note, 3.88%, 10/31/12	1,230	1,309
	U.S. Treasury Note, 1.38%, 11/15/12	500	500
	U.S. Treasury Note, 3.38%, 11/30/12 (e)	1,870	1,968
	U.S. Treasury Note, 1.13%, 12/15/12 (e)	2,500	2,478
	U.S. Treasury Note, 3.63%, 12/31/12 (e)	1,050	1,112
	U.S. Treasury Note, 1.38%, 01/15/13	2,500	2,492
	U.S. Treasury Note, 1.38%, 02/15/13	3,000	2,986
	U.S. Treasury Note, 3.88%, 02/15/13	405	432
	U.S. Treasury Note, 2.75%, 02/28/13	1,640	1,697
	U.S. Treasury Note, 2.50%, 03/31/13	1,465	1,505
	U.S. Treasury Note, 3.13%, 04/30/13	995	1,040
	U.S. Treasury Note, 3.50%, 05/31/13	1,400	1,479
	U.S. Treasury Note, 3.38%, 06/30/13	2,000	2,105
	U.S. Treasury Note, 3.38%, 07/31/13	800	842
	U.S. Treasury Note, 4.25%, 08/15/13	2,300	2,489
	U.S. Treasury Note, 3.13%, 08/31/13	1,940	2,024
	U.S. Treasury Note, 3.13%, 09/30/13	2,750	2,868
	U.S. Treasury Note, 2.75%, 10/31/13	3,270	3,365
	U.S. Treasury Note, 4.25%, 11/15/13	1,800	1,950
	U.S. Treasury Note, 2.00%, 11/30/13	670	671
	U.S. Treasury Note, 1.50%, 12/31/13	1,200	1,178
	U.S. Treasury Note, 1.75%, 01/31/14	515	509
	U.S. Treasury Note, 4.00%, 02/15/14	2,480	2,665
	U.S. Treasury Note, 1.88%, 02/28/14	2,500	2,479
	U.S. Treasury Note, 1.75%, 03/31/14	2,050	2,019
	U.S. Treasury Note, 1.88%, 04/30/14	2,500	2,470
	U.S. Treasury Note, 4.75%, 05/15/14	1,500	1,656
	U.S. Treasury Note, 2.25%, 05/31/14	2,300	2,303
	U.S. Treasury Note, 2.63%, 06/30/14	2,500	2,537
	U.S. Treasury Note, 2.63%, 07/31/14	2,900	2,940
	U.S. Treasury Note, 4.25%, 08/15/14 (e)	2,000	2,169
	U.S. Treasury Note, 2.38%, 08/31/14	3,000	3,007
	U.S. Treasury Note, 2.38%, 09/30/14	3,000	3,001
	U.S. Treasury Note, 2.38%, 10/31/14	2,100	2,097
	U.S. Treasury Note, 4.25%, 11/15/14	1,090	1,181
	U.S. Treasury Note, 2.13%, 11/30/14 (e)	2,500	2,467
	U.S. Treasury Note, 2.63%, 12/31/14	2,600	2,619
	U.S. Treasury Note, 2.25%, 01/31/15 (e)	2,500	2,473
	U.S. Treasury Note, 4.00%, 02/15/15	1,750	1,874
	U.S. Treasury Note, 2.38%, 02/28/15	2,500	2,483
	U.S. Treasury Note, 4.13%, 05/15/15	1,140	1,226
	U.S. Treasury Note, 4.25%, 08/15/15	4,320	4,664
	U.S. Treasury Note, 4.50%, 11/15/15	12,665	13,838
	U.S. Treasury Note, 4.50%, 02/15/16	1,480	1,612
	U.S. Treasury Note, 5.13%, 05/15/16	860	965
	U.S. Treasury Note, 3.25%, 05/31/16	1,485	1,504
	U.S. Treasury Note, 3.25%, 07/31/16	1,000	1,010
	U.S. Treasury Note, 4.88%, 08/15/16	920	1,020
	U.S. Treasury Note, 3.00%, 08/31/16	1,000	993
	U.S. Treasury Note, 3.00%, 09/30/16	1,500	1,486
	U.S. Treasury Note, 3.13%, 10/31/16	1,500	1,495
	U.S. Treasury Note, 4.63%, 11/15/16	450	491
	U.S. Treasury Note, 2.75%, 11/30/16	1,000	972
	U.S. Treasury Note, 3.25%, 12/31/16	4,000	4,005
	U.S. Treasury Note, 3.13%, 01/31/17	2,000	1,986
	U.S. Treasury Note, 4.63%, 02/15/17	1,000	1,090
	U.S. Treasury Note, 3.00%, 02/28/17	2,000	1,969
	U.S. Treasury Note, 4.50%, 05/15/17	1,800	1,943
	U.S. Treasury Note, 4.75%, 08/15/17	290	316
	U.S. Treasury Note, 4.25%, 11/15/17 (e)	330	349
	U.S. Treasury Note, 3.50%, 02/15/18	1,340	1,344
	U.S. Treasury Note, 3.88%, 05/15/18	2,000	2,050
	U.S. Treasury Note, 4.00%, 08/15/18	2,200	2,266
	U.S. Treasury Note, 3.75%, 11/15/18	4,250	4,282
	U.S. Treasury Note, 2.75%, 02/15/19	2,730	2,534
	U.S. Treasury Note, 3.13%, 05/15/19	3,500	3,333
	U.S. Treasury Note, 3.63%, 08/15/19	1,950	1,926
	U.S. Treasury Note, 3.38%, 11/15/19	1,400	1,351
	U.S. Treasury Note, 3.63%, 02/15/20 (e)	2,500	2,457
			276,126
U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES - 42.3%
Federal Home Loan Bank - 1.9%
	Federal Home Loan Bank, 3.38%, 06/24/11	2,000	2,061
	Federal Home Loan Bank, 3.63%, 07/01/11 (e)	2,100	2,178
	Federal Home Loan Bank, 1.63%, 07/27/11	2,000	2,022
	Federal Home Loan Bank, 5.38%, 08/19/11	500	530
	Federal Home Loan Bank, 4.88%, 11/18/11	1,000	1,063
	Federal Home Loan Bank, 1.40%, 01/12/12	400	400
	Federal Home Loan Bank, 1.30%, 04/05/12	600	599
	Federal Home Loan Bank, 1.35%, 04/09/12, TBA (g)	600	599
	Federal Home Loan Bank, 5.75%, 05/15/12 (e)	1,125	1,231
	Federal Home Loan Bank, 4.50%, 11/15/12	400	430
	Federal Home Loan Bank, 1.50%, 01/16/13 (e)	1,000	998
	Federal Home Loan Bank, 3.88%, 06/14/13 (e)	1,600	1,697
	Federal Home Loan Bank, 4.50%, 09/16/13 (e)	1,000	1,081
	Federal Home Loan Bank, 3.63%, 10/18/13 (e)	1,000	1,056
	Federal Home Loan Bank, 5.25%, 06/18/14 (e)	1,090	1,212
	Federal Home Loan Bank, 4.75%, 12/16/16	300	321
	Federal Home Loan Bank, 5.50%, 07/15/36	100	102
			17,580
Federal Home Loan Mortgage Corp. - 13.4%
	Federal Home Loan Mortgage Corp., 5.63%, 03/15/11	1,000	1,048
	Federal Home Loan Mortgage Corp., 5.13%, 04/18/11	1,260	1,319
	Federal Home Loan Mortgage Corp., 1.75%, 04/20/11	250	250
	Federal Home Loan Mortgage Corp., 6.00%, 06/15/11 (e)	1,800	1,916
	Federal Home Loan Mortgage Corp., 1.63%, 08/11/11	200	200
	Federal Home Loan Mortgage Corp., 1.50%, 08/24/11	800	803
	Federal Home Loan Mortgage Corp., 5.50%, 09/15/11	500	534
	Federal Home Loan Mortgage Corp., 1.00%, 12/22/11	250	249
	Federal Home Loan Mortgage Corp., 5.75%, 01/15/12	1,150	1,244
	Federal Home Loan Mortgage Corp., 1.25%, 01/19/12	400	399
	Federal Home Loan Mortgage Corp., 1.30%, 03/30/12	150	149
	Federal Home Loan Mortgage Corp., 5.13%, 07/15/12	978	1,061
	Federal Home Loan Mortgage Corp., 4.63%, 10/25/12	300	323
	Federal Home Loan Mortgage Corp., 4.50%, 01/15/13	865	931
	Federal Home Loan Mortgage Corp., 1.80%, 02/25/13	600	598
	Federal Home Loan Mortgage Corp., 2.00%, 03/29/13	500	499
	Federal Home Loan Mortgage Corp., 3.50%, 05/29/13	2,400	2,520
	Federal Home Loan Mortgage Corp., 4.50%, 07/15/13 (e)	2,300	2,487
	Federal Home Loan Mortgage Corp., 2.13%, 08/26/13	300	300
	Federal Home Loan Mortgage Corp., 4.88%, 11/15/13 (e)	500	549
	Federal Home Loan Mortgage Corp., 2.20%, 12/17/13	150	149
	Federal Home Loan Mortgage Corp., 4.50%, 04/02/14	100	108
	Federal Home Loan Mortgage Corp., 6.50%, 06/01/14	44	47
	Federal Home Loan Mortgage Corp., 5.05%, 01/26/15	100	110
	Federal Home Loan Mortgage Corp., 3.13%, 03/16/15	50	50
	Federal Home Loan Mortgage Corp., 3.05%, 04/09/15, TBA (g)	250	249
	Federal Home Loan Mortgage Corp., 4.38%, 07/17/15	300	322
	Federal Home Loan Mortgage Corp., 7.00%, 08/01/15	17	18
	Federal Home Loan Mortgage Corp., 7.00%, 11/01/15	-	-
	Federal Home Loan Mortgage Corp., 4.75%, 01/19/16	3,100	3,361
	Federal Home Loan Mortgage Corp., 5.13%, 10/18/16 (e)	620	681
	Federal Home Loan Mortgage Corp., 7.00%, 11/02/16	39	42
	Federal Home Loan Mortgage Corp., 6.00%, 12/01/16	26	28
	Federal Home Loan Mortgage Corp., 4.50%, 01/01/18	27	29
	Federal Home Loan Mortgage Corp., 5.50%, 04/01/18	15	16
	Federal Home Loan Mortgage Corp., 4.50%, 11/01/18	330	345
	Federal Home Loan Mortgage Corp., 4.50%, 11/01/18	311	327
	Federal Home Loan Mortgage Corp., 4.50%, 12/01/18	554	581
	Federal Home Loan Mortgage Corp., 6.00%, 02/01/19	124	134
	Federal Home Loan Mortgage Corp., 3.75%, 03/27/19 (e)	2,000	1,951
	Federal Home Loan Mortgage Corp., 4.00%, 05/01/19	33	34
	Federal Home Loan Mortgage Corp., 5.00%, 07/01/19	72	76
	Federal Home Loan Mortgage Corp., 5.10%, 08/19/19	800	810
	Federal Home Loan Mortgage Corp., 5.00%, 05/01/20, TBA (g)	1,000	1,056
	Federal Home Loan Mortgage Corp., 4.00%, 09/01/20	179	183
	Federal Home Loan Mortgage Corp., 4.50%, 09/01/20	407	427
	Federal Home Loan Mortgage Corp., 5.00%, 10/01/20	432	460
	Federal Home Loan Mortgage Corp., 5.50%, 11/01/20	488	526
	Federal Home Loan Mortgage Corp., 4.00%, 12/01/20	471	480
	Federal Home Loan Mortgage Corp., 5.50%, 12/01/20	36	39
	Federal Home Loan Mortgage Corp., 5.00%, 02/01/21	48	51
	Federal Home Loan Mortgage Corp., 6.00%, 07/21/21	122	132
	Federal Home Loan Mortgage Corp., 5.00%, 07/01/22	401	424
	Federal Home Loan Mortgage Corp., 4.50%, 09/01/22	597	621
	Federal Home Loan Mortgage Corp., 5.00%, 09/01/22	384	406
	Federal Home Loan Mortgage Corp., 5.00%, 11/01/22	861	910
	Federal Home Loan Mortgage Corp., 5.00%, 03/01/23	561	593
	Federal Home Loan Mortgage Corp., 5.00%, 03/01/23	169	179
	Federal Home Loan Mortgage Corp., 4.50%, 05/01/23	5	6
	Federal Home Loan Mortgage Corp., 5.00%, 05/01/23	328	347
	Federal Home Loan Mortgage Corp., 4.50%, 07/01/23	459	477
	Federal Home Loan Mortgage Corp., 5.50%, 08/01/23	838	898
	Federal Home Loan Mortgage Corp., 5.50%, 10/01/23	126	135
	Federal Home Loan Mortgage Corp., 5.50%, 10/01/23	339	363
	Federal Home Loan Mortgage Corp., 6.00%, 01/01/24	723	782
	Federal Home Loan Mortgage Corp., 4.50%, 05/01/24	221	230
	Federal Home Loan Mortgage Corp., 4.00%, 07/01/24	477	485
	Federal Home Loan Mortgage Corp., 4.50%, 07/01/24	975	1,013
	Federal Home Loan Mortgage Corp., 4.50%, 07/01/24	431	448
	Federal Home Loan Mortgage Corp., 4.00%, 08/01/24	268	273
	Federal Home Loan Mortgage Corp., 4.00%, 09/01/24	567	576
	Federal Home Loan Mortgage Corp., 4.50%, 10/01/24	282	292
	Federal Home Loan Mortgage Corp., 4.50%, 10/01/24	195	202
	Federal Home Loan Mortgage Corp., 4.50%, 10/01/24	695	722
	Federal Home Loan Mortgage Corp., 4.00%, 11/01/24	575	584
	Federal Home Loan Mortgage Corp., 4.50%, 11/01/24	34	35
	Federal Home Loan Mortgage Corp., 4.50%, 11/01/24	100	104
	Federal Home Loan Mortgage Corp., 4.00%, 12/01/24	74	75
	Federal Home Loan Mortgage Corp., 4.00%, 01/01/25	641	651
	Federal Home Loan Mortgage Corp., 4.00%, 02/01/25	700	711
	Federal Home Loan Mortgage Corp., 4.50%, 07/01/25	171	178
	Federal Home Loan Mortgage Corp., 4.50%, 10/01/25	243	253
	Federal Home Loan Mortgage Corp., 5.00%, 03/01/26	113	118
	Federal Home Loan Mortgage Corp., 6.00%, 09/01/26	450	483
	Federal Home Loan Mortgage Corp., 6.50%, 07/01/28	144	158
	Federal Home Loan Mortgage Corp., 5.50%, 11/01/28	716	760
	Federal Home Loan Mortgage Corp., 6.50%, 12/01/28	46	51
	Federal Home Loan Mortgage Corp., 6.00%, 02/01/29	8	8
	Federal Home Loan Mortgage Corp., 6.00%, 04/01/29	13	14
	Federal Home Loan Mortgage Corp., 6.00%, 04/01/29	12	13
	Federal Home Loan Mortgage Corp., 6.50%, 05/01/29	16	18
	Federal Home Loan Mortgage Corp., 6.00%, 07/01/29	17	19
	Federal Home Loan Mortgage Corp., 6.75%, 09/15/29	60	72
	Federal Home Loan Mortgage Corp., 6.50%, 03/01/31	19	21
	Federal Home Loan Mortgage Corp., 6.75%, 03/15/31	120	146
	Federal Home Loan Mortgage Corp., 6.00%, 05/01/31	60	65
	Federal Home Loan Mortgage Corp., 7.00%, 06/01/31	9	10
	Federal Home Loan Mortgage Corp., 7.50%, 11/01/31	90	103
	Federal Home Loan Mortgage Corp., 6.00%, 01/01/32	6	6
	Federal Home Loan Mortgage Corp., 6.00%, 02/01/32	54	59
	Federal Home Loan Mortgage Corp., 7.50%, 04/01/32	142	162
	Federal Home Loan Mortgage Corp., 6.00%, 06/01/32	5	5
	Federal Home Loan Mortgage Corp., 6.25%, 07/15/32	300	347
	Federal Home Loan Mortgage Corp., 5.50%, 10/01/32	562	597
	Federal Home Loan Mortgage Corp., 6.00%, 11/01/32	43	47
	Federal Home Loan Mortgage Corp., 6.00%, 12/01/32	6	6
	Federal Home Loan Mortgage Corp., 6.00%, 03/01/33	4	4
	Federal Home Loan Mortgage Corp., 5.50%, 04/01/33	81	86
	Federal Home Loan Mortgage Corp., 5.50%, 04/01/33	140	148
	Federal Home Loan Mortgage Corp., 6.00%, 04/01/33	4	5
	Federal Home Loan Mortgage Corp., 6.00%, 05/01/33	30	32
	Federal Home Loan Mortgage Corp., 6.00%, 05/01/33	12	13
	Federal Home Loan Mortgage Corp., 5.50%, 08/01/33	173	183
	Federal Home Loan Mortgage Corp., 5.00%, 09/01/33	1,675	1,742
	Federal Home Loan Mortgage Corp., 4.50%, 10/01/33	6	6
	Federal Home Loan Mortgage Corp., 5.50%, 10/01/33	818	868
	Federal Home Loan Mortgage Corp., 6.00%, 10/01/33	32	35
	Federal Home Loan Mortgage Corp., 5.50%, 11/01/33	347	368
	Federal Home Loan Mortgage Corp., 5.50%, 12/01/33	234	248
	Federal Home Loan Mortgage Corp., 5.50%, 12/01/33	32	33
	Federal Home Loan Mortgage Corp., 5.50%, 03/01/34	101	107
	Federal Home Loan Mortgage Corp., 5.00%, 05/01/34	523	543
	Federal Home Loan Mortgage Corp., 5.00%, 05/01/34	87	90
	Federal Home Loan Mortgage Corp., 6.00%, 07/01/34	173	188
	Federal Home Loan Mortgage Corp., 6.50%, 12/01/34	370	407
	Federal Home Loan Mortgage Corp., 5.00%, 02/01/35	182	189
	Federal Home Loan Mortgage Corp., 5.50%, 04/01/35	328	348
	Federal Home Loan Mortgage Corp., 5.50%, 04/01/35, TBA (g)	1,000	1,056
	Federal Home Loan Mortgage Corp., 5.50%, 05/01/35	212	225
	Federal Home Loan Mortgage Corp., 6.00%, 05/01/35, TBA (g)	2,000	2,139
	Federal Home Loan Mortgage Corp., 5.00%, 06/01/35	283	293
	Federal Home Loan Mortgage Corp., 6.50%, 06/01/35	5	6
	Federal Home Loan Mortgage Corp., 5.00%, 07/01/35	742	768
	Federal Home Loan Mortgage Corp., 6.50%, 07/01/35	8	9
	Federal Home Loan Mortgage Corp., 5.00%, 11/01/35	1,662	1,721
	Federal Home Loan Mortgage Corp., 5.50%, 11/01/35	549	582
	Federal Home Loan Mortgage Corp., 4.37%, 12/01/35 (i)	816	858
	Federal Home Loan Mortgage Corp., 4.50%, 12/01/35	305	308
	Federal Home Loan Mortgage Corp., 5.50%, 12/01/35	1,421	1,504
	Federal Home Loan Mortgage Corp., 6.00%, 12/01/35	772	834
	Federal Home Loan Mortgage Corp., 6.00%, 12/01/35	470	507
	Federal Home Loan Mortgage Corp., 4.50%, 01/01/36	320	323
	Federal Home Loan Mortgage Corp., 5.50%, 02/01/36	189	200
	Federal Home Loan Mortgage Corp., 6.00%, 02/01/36	363	391
	Federal Home Loan Mortgage Corp., 5.00%, 03/01/36	45	47
	Federal Home Loan Mortgage Corp., 5.50%, 03/01/36	19	20
	Federal Home Loan Mortgage Corp., 5.00%, 04/01/36	189	195
	Federal Home Loan Mortgage Corp., 5.00%, 04/01/36	628	650
	Federal Home Loan Mortgage Corp., 4.50%, 08/01/36	410	412
	Federal Home Loan Mortgage Corp., 6.50%, 08/01/36	329	358
	Federal Home Loan Mortgage Corp., 6.00%, 09/01/36	70	75
	Federal Home Loan Mortgage Corp., 6.00%, 09/01/36	425	457
	Federal Home Loan Mortgage Corp., 6.50%, 09/01/36	254	277
	Federal Home Loan Mortgage Corp., 7.00%, 11/01/36	41	45
	Federal Home Loan Mortgage Corp., 5.50%, 12/01/36	818	865
	Federal Home Loan Mortgage Corp., 5.50%, 12/01/36	1,051	1,112
	Federal Home Loan Mortgage Corp., 5.85%, 01/01/37 (i)	90	95
	Federal Home Loan Mortgage Corp., 6.03%, 01/01/37 (i)	370	396
	Federal Home Loan Mortgage Corp., 5.50%, 02/01/37	278	294
	Federal Home Loan Mortgage Corp., 5.63%, 02/01/37 (i)	387	411
	Federal Home Loan Mortgage Corp., 6.00%, 02/01/37	490	527
	Federal Home Loan Mortgage Corp., 6.50%, 03/01/37	350	381
	Federal Home Loan Mortgage Corp., 6.00%, 04/16/37	100	102
	Federal Home Loan Mortgage Corp., 5.50%, 05/01/37	1,176	1,243
	Federal Home Loan Mortgage Corp., 6.00%, 05/01/37	1,553	1,670
	Federal Home Loan Mortgage Corp., 5.00%, 08/01/37	212	220
	Federal Home Loan Mortgage Corp., 6.00%, 08/01/37	753	809
	Federal Home Loan Mortgage Corp., 7.00%, 08/01/37	358	397
	Federal Home Loan Mortgage Corp., 6.50%, 09/01/37	203	221
	Federal Home Loan Mortgage Corp., 6.50%, 09/01/37	265	289
	Federal Home Loan Mortgage Corp., 6.50%, 09/01/37	340	370
	Federal Home Loan Mortgage Corp., 5.50%, 01/01/38	75	79
	Federal Home Loan Mortgage Corp., 6.00%, 03/01/38	43	46
	Federal Home Loan Mortgage Corp., 6.50%, 03/01/38	220	239
	Federal Home Loan Mortgage Corp., 5.00%, 04/01/38	469	485
	Federal Home Loan Mortgage Corp., 6.00%, 04/01/38, TBA (g)	900	967
	Federal Home Loan Mortgage Corp., 5.50%, 05/01/38	682	721
	Federal Home Loan Mortgage Corp., 6.00%, 05/01/38	500	537
	Federal Home Loan Mortgage Corp., 5.50%, 06/01/38	932	985
	Federal Home Loan Mortgage Corp., 5.50%, 06/01/38	302	319
	Federal Home Loan Mortgage Corp., 5.50%, 06/01/38	1,792	1,895
	Federal Home Loan Mortgage Corp., 6.00%, 06/01/38	866	944
	Federal Home Loan Mortgage Corp., 6.00%, 08/01/38	647	695
	Federal Home Loan Mortgage Corp., 5.50%, 09/01/38	746	789
	Federal Home Loan Mortgage Corp., 6.00%, 09/01/38	728	782
	Federal Home Loan Mortgage Corp., 6.00%, 09/01/38	643	691
	Federal Home Loan Mortgage Corp., 6.00%, 09/01/38	713	766
	Federal Home Loan Mortgage Corp., 6.00%, 10/01/38	25	26
	Federal Home Loan Mortgage Corp., 5.50%, 11/01/38	144	152
	Federal Home Loan Mortgage Corp., 6.00%, 11/01/38	743	798
	Federal Home Loan Mortgage Corp., 5.50%, 12/01/38	463	489
	Federal Home Loan Mortgage Corp., 5.50%, 12/01/38	806	852
	Federal Home Loan Mortgage Corp., 6.00%, 12/01/38	367	394
	Federal Home Loan Mortgage Corp., 6.50%, 12/01/38	900	979
	Federal Home Loan Mortgage Corp., 4.50%, 01/01/39	107	107
	Federal Home Loan Mortgage Corp., 4.50%, 01/01/39	429	430
	Federal Home Loan Mortgage Corp., 5.00%, 01/01/39	800	827
	Federal Home Loan Mortgage Corp., 5.00%, 01/01/39	2,682	2,773
	Federal Home Loan Mortgage Corp., 6.00%, 02/01/39	261	280
	Federal Home Loan Mortgage Corp., 6.00%, 02/01/39	461	495
	Federal Home Loan Mortgage Corp., 6.50%, 03/01/39	407	443
	Federal Home Loan Mortgage Corp., 4.50%, 04/01/39	1,809	1,815
	Federal Home Loan Mortgage Corp., 5.00%, 04/01/39	416	430
	Federal Home Loan Mortgage Corp., 5.00%, 05/01/39	306	316
	Federal Home Loan Mortgage Corp., 4.00%, 06/01/39	974	945
	Federal Home Loan Mortgage Corp., 4.50%, 06/01/39	388	390
	Federal Home Loan Mortgage Corp., 5.00%, 06/01/39	611	632
	Federal Home Loan Mortgage Corp., 4.00%, 07/01/39	682	662
	Federal Home Loan Mortgage Corp., 4.00%, 07/01/39	983	954
	Federal Home Loan Mortgage Corp., 4.50%, 07/01/39	1,559	1,564
	Federal Home Loan Mortgage Corp., 5.00%, 07/01/39	755	780
	Federal Home Loan Mortgage Corp., 5.00%, 08/01/39	398	411
	Federal Home Loan Mortgage Corp., 4.50%, 09/01/39	1,176	1,180
	Federal Home Loan Mortgage Corp., 4.50%, 09/01/39	1,954	1,960
	Federal Home Loan Mortgage Corp., 4.50%, 10/01/39	993	997
	Federal Home Loan Mortgage Corp., 5.00%, 10/01/39	959	992
	Federal Home Loan Mortgage Corp., 5.50%, 10/01/39	1,863	1,970
	Federal Home Loan Mortgage Corp., 4.50%, 11/01/39	494	496
	Federal Home Loan Mortgage Corp., 6.00%, 11/01/39	499	536
	Federal Home Loan Mortgage Corp., 4.00%, 12/01/39	995	966
	Federal Home Loan Mortgage Corp., 4.00%, 12/01/39	498	483
	Federal Home Loan Mortgage Corp., 4.00%, 12/01/39	795	772
	Federal Home Loan Mortgage Corp., 4.50%, 12/01/39	1,494	1,499
	Federal Home Loan Mortgage Corp., 5.00%, 12/01/39	1,992	2,059
	Federal Home Loan Mortgage Corp., 5.00%, 12/01/39	1,992	2,059
	Federal Home Loan Mortgage Corp., 4.50%, 01/01/40	1,994	2,001
	Federal Home Loan Mortgage Corp., 4.50%, 02/01/40	1,600	1,606
	Federal Home Loan Mortgage Corp., 4.50%, 02/01/40	998	1,002
	Federal Home Loan Mortgage Corp., 5.00%, 02/01/40	1,398	1,446
			126,675
Federal National Mortgage Association - 21.6%
	Federal National Mortgage Association, 5.50%, 03/15/11	1,300	1,361
	Federal National Mortgage Association, 2.75%, 04/11/11	2,000	2,044
	Federal National Mortgage Association, 5.13%, 04/15/11	500	524
	Federal National Mortgage Association, 6.00%, 05/15/11	1,000	1,060
	Federal National Mortgage Association, 3.38%, 05/19/11	2,000	2,063
	Federal National Mortgage Association, 1.00%, 11/23/11	1,000	1,001
	Federal National Mortgage Association, 1.25%, 12/30/11	600	599
	Federal National Mortgage Association, 2.00%, 01/09/12	800	814
	Federal National Mortgage Association, 5.00%, 02/16/12	750	803
	Federal National Mortgage Association, 6.13%, 03/15/12 (e)	1,000	1,095
	Federal National Mortgage Association, 1.13%, 03/22/12	150	149
	Federal National Mortgage Association, 1.25%, 04/05/12	250	249
	Federal National Mortgage Association, 1.75%, 08/10/12	2,500	2,517
	Federal National Mortgage Association, 2.00%, 01/15/13	400	401
	Federal National Mortgage Association, 2.00%, 02/19/13	200	200
	Federal National Mortgage Association, 1.80%, 03/25/13	250	250
	Federal National Mortgage Association, 5.50%, 01/01/14	20	22
	Federal National Mortgage Association, 2.50%, 05/15/14	675	679
	Federal National Mortgage Association, 3.30%, 07/30/14	1,000	1,007
	Federal National Mortgage Association, 4.63%, 10/15/14	550	597
	Federal National Mortgage Association, 5.00%, 04/15/15	500	551
	Federal National Mortgage Association, 4.38%, 10/15/15	390	416
	Federal National Mortgage Association, 6.50%, 02/01/16	6	7
	Federal National Mortgage Association, 5.00%, 03/15/16 (e)	400	438
	Federal National Mortgage Association, 5.50%, 04/01/16	6	7
	Federal National Mortgage Association, 6.00%, 06/01/16	44	47
	Federal National Mortgage Association, 6.50%, 09/01/16	8	9
	Federal National Mortgage Association, 6.00%, 10/01/16	92	99
	Federal National Mortgage Association, 6.50%, 10/01/16	15	16
	Federal National Mortgage Association, 6.50%, 12/01/16	1	1
	Federal National Mortgage Association, 4.88%, 12/15/16	500	539
	Federal National Mortgage Association, 5.50%, 01/01/17	152	163
	Federal National Mortgage Association, 5.50%, 01/01/17	80	86
	Federal National Mortgage Association, 5.00%, 02/13/17	1,500	1,634
	Federal National Mortgage Association, 5.50%, 03/01/17	17	19
	Federal National Mortgage Association, 0.00%, 06/01/17 (j)	1,250	929
	Federal National Mortgage Association, 5.50%, 09/01/17	284	306
	Federal National Mortgage Association, 5.00%, 10/01/17	26	28
	Federal National Mortgage Association, 5.50%, 11/01/17	33	35
	Federal National Mortgage Association, 5.00%, 01/01/18	120	128
	Federal National Mortgage Association, 5.50%, 01/01/18	55	59
	Federal National Mortgage Association, 5.00%, 02/01/18	1,002	1,070
	Federal National Mortgage Association, 5.50%, 02/01/18	104	112
	Federal National Mortgage Association, 4.50%, 03/01/18	406	428
	Federal National Mortgage Association, 5.00%, 03/01/18	53	56
	Federal National Mortgage Association, 5.00%, 05/01/18	17	18
	Federal National Mortgage Association, 5.00%, 06/01/18	36	39
	Federal National Mortgage Association, 4.00%, 07/01/18	233	242
	Federal National Mortgage Association, 5.00%, 07/01/18	49	52
	Federal National Mortgage Association, 5.00%, 07/01/18	76	80
	Federal National Mortgage Association, 4.00%, 08/01/18	171	178
	Federal National Mortgage Association, 5.00%, 08/01/18	31	33
	Federal National Mortgage Association, 4.00%, 10/01/18	73	76
	Federal National Mortgage Association, 4.50%, 11/01/18	514	541
	Federal National Mortgage Association, 4.50%, 11/01/18	217	228
	Federal National Mortgage Association, 5.00%, 11/01/18	693	740
	Federal National Mortgage Association, 5.50%, 12/01/18	87	94
	Federal National Mortgage Association, 5.50%, 03/01/19	20	22
	Federal National Mortgage Association, 5.50%, 10/01/19	62	67
	Federal National Mortgage Association, 4.50%, 07/01/20	455	479
	Federal National Mortgage Association, 5.50%, 07/01/20	296	319
	Federal National Mortgage Association, 5.00%, 11/01/20	208	222
	Federal National Mortgage Association, 5.50%, 01/01/21	481	518
	Federal National Mortgage Association, 4.50%, 03/01/21	95	99
	Federal National Mortgage Association, 5.00%, 11/01/21	481	513
	Federal National Mortgage Association, 5.50%, 01/01/22	84	90
	Federal National Mortgage Association, 4.50%, 02/01/22	299	311
	Federal National Mortgage Association, 5.00%, 03/01/22	315	333
	Federal National Mortgage Association, 5.00%, 03/01/22	185	195
	Federal National Mortgage Association, 5.38%, 04/11/22	50	53
	Federal National Mortgage Association, 6.00%, 06/01/22	471	508
	Federal National Mortgage Association, 5.00%, 10/01/22	326	344
	Federal National Mortgage Association, 4.50%, 02/01/23	245	254
	Federal National Mortgage Association, 4.50%, 04/01/23	594	617
	Federal National Mortgage Association, 5.00%, 06/01/23	443	467
	Federal National Mortgage Association, 5.50%, 07/01/23	26	28
	Federal National Mortgage Association, 5.00%, 09/01/23	24	25
	Federal National Mortgage Association, 5.00%, 11/01/23	439	463
	Federal National Mortgage Association, 5.50%, 12/01/23	204	217
	Federal National Mortgage Association, 4.50%, 01/01/24	328	341
	Federal National Mortgage Association, 5.00%, 03/01/24	541	571
	Federal National Mortgage Association, 4.00%, 04/01/24	279	283
	Federal National Mortgage Association, 4.50%, 04/01/24	350	364
	Federal National Mortgage Association, 4.00%, 05/01/24	662	673
	Federal National Mortgage Association, 4.50%, 05/01/24	483	502
	Federal National Mortgage Association, 4.00%, 06/01/24	488	496
	Federal National Mortgage Association, 4.00%, 06/01/24	467	474
	Federal National Mortgage Association, 4.00%, 06/01/24	374	380
	Federal National Mortgage Association, 4.50%, 06/01/24	583	605
	Federal National Mortgage Association, 4.50%, 06/01/24	51	53
	Federal National Mortgage Association, 4.00%, 07/01/24	375	382
	Federal National Mortgage Association, 4.50%, 07/01/24	971	1,009
	Federal National Mortgage Association, 4.00%, 09/01/24	989	1,005
	Federal National Mortgage Association, 4.50%, 12/01/24	493	512
	Federal National Mortgage Association, 4.00%, 01/01/25	498	506
	Federal National Mortgage Association, 4.50%, 02/01/25	500	519
	Federal National Mortgage Association, 4.50%, 04/01/25	500	519
	Federal National Mortgage Association, 5.00%, 05/01/26	586	609
	Federal National Mortgage Association, 5.50%, 05/01/26	612	648
	Federal National Mortgage Association, 6.00%, 09/01/26	127	136
	Federal National Mortgage Association, 5.00%, 12/01/26	291	303
	Federal National Mortgage Association, 5.95%, 06/07/27	100	106
	Federal National Mortgage Association, 6.25%, 05/15/29	225	254
	Federal National Mortgage Association, 4.50%, 06/01/29	189	193
	Federal National Mortgage Association, 5.00%, 06/01/29	1,221	1,270
	Federal National Mortgage Association, 4.50%, 07/01/29	96	97
	Federal National Mortgage Association, 5.00%, 09/01/29	954	992
	Federal National Mortgage Association, 7.13%, 01/15/30	570	716
	Federal National Mortgage Association, 4.50%, 02/01/30	1,491	1,524
	Federal National Mortgage Association, 7.25%, 05/15/30	540	686
	Federal National Mortgage Association, 6.63%, 11/15/30	290	347
	Federal National Mortgage Association, 7.00%, 02/01/31	61	68
	Federal National Mortgage Association, 6.00%, 04/01/31	37	41
	Federal National Mortgage Association, 6.00%, 11/01/31	2	2
	Federal National Mortgage Association, 5.50%, 01/01/32	143	152
	Federal National Mortgage Association, 6.00%, 06/01/32	28	31
	Federal National Mortgage Association, 6.50%, 07/01/32	49	54
	Federal National Mortgage Association, 7.00%, 07/01/32	21	24
	Federal National Mortgage Association, 6.00%, 02/01/33	144	157
	Federal National Mortgage Association, 5.50%, 05/01/33	1,332	1,414
	Federal National Mortgage Association, 5.50%, 06/01/33	1,253	1,330
	Federal National Mortgage Association, 5.00%, 09/01/33	1,479	1,534
	Federal National Mortgage Association, 5.50%, 10/01/33	1,242	1,318
	Federal National Mortgage Association, 4.50%, 11/01/33	421	427
	Federal National Mortgage Association, 4.50%, 11/01/33	287	291
	Federal National Mortgage Association, 5.00%, 11/01/33	1,214	1,260
	Federal National Mortgage Association, 5.50%, 11/01/33	261	277
	Federal National Mortgage Association, 6.00%, 11/01/33	24	26
	Federal National Mortgage Association, 6.00%, 12/01/33	754	819
	Federal National Mortgage Association, 6.00%, 12/01/33	41	44
	Federal National Mortgage Association, 6.00%, 12/01/33	298	323
	Federal National Mortgage Association, 5.50%, 01/01/34	114	121
	Federal National Mortgage Association, 5.00%, 03/01/34	1,866	1,937
	Federal National Mortgage Association, 5.00%, 04/01/34	124	128
	Federal National Mortgage Association, 5.00%, 04/01/34	229	237
	Federal National Mortgage Association, 5.00%, 05/01/34	662	686
	Federal National Mortgage Association, 5.00%, 06/01/34	157	163
	Federal National Mortgage Association, 5.50%, 07/01/34	697	739
	Federal National Mortgage Association, 6.50%, 07/01/34	375	412
	Federal National Mortgage Association, 6.00%, 08/01/34	305	329
	Federal National Mortgage Association, 5.50%, 09/01/34	174	184
	Federal National Mortgage Association, 5.50%, 12/01/34	771	817
	Federal National Mortgage Association, 5.50%, 01/01/35	1,828	1,936
	Federal National Mortgage Association, 5.50%, 02/01/35	2,124	2,250
	Federal National Mortgage Association, 4.50%, 04/01/35	161	162
	Federal National Mortgage Association, 5.00%, 04/01/35	213	221
	Federal National Mortgage Association, 6.50%, 04/01/35	209	228
	Federal National Mortgage Association, 2.89%, 05/01/35 (i)	77	79
	Federal National Mortgage Association, 4.50%, 05/01/35 (i)	302	312
	Federal National Mortgage Association, 5.00%, 07/01/35	2,933	3,034
	Federal National Mortgage Association, 5.50%, 08/01/35	90	95
	Federal National Mortgage Association, 5.50%, 08/01/35	514	545
	Federal National Mortgage Association, 4.50%, 10/01/35	263	265
	Federal National Mortgage Association, 4.50%, 10/01/35	65	65
	Federal National Mortgage Association, 4.86%, 10/01/35 (i)	463	483
	Federal National Mortgage Association, 6.00%, 10/01/35	1,450	1,552
	Federal National Mortgage Association, 5.00%, 11/01/35	1,326	1,371
	Federal National Mortgage Association, 5.00%, 11/01/35	141	145
	Federal National Mortgage Association, 5.00%, 11/01/35	709	733
	Federal National Mortgage Association, 5.50%, 12/01/35	280	296
	Federal National Mortgage Association, 5.50%, 12/01/35	321	340
	Federal National Mortgage Association, 7.00%, 12/01/35	6	6
	Federal National Mortgage Association, 7.00%, 02/01/36	166	184
	Federal National Mortgage Association, 5.50%, 03/01/36	569	600
	Federal National Mortgage Association, 5.50%, 03/01/36	14	15
	Federal National Mortgage Association, 5.00%, 04/12/36, TBA (g)	10,500	10,831
	Federal National Mortgage Association, 5.50%, 04/12/36, TBA (g)	5,200	5,480
	Federal National Mortgage Association, 5.50%, 05/01/36	13	14
	Federal National Mortgage Association, 5.50%, 06/01/36	384	405
	Federal National Mortgage Association, 6.00%, 06/01/36	510	544
	Federal National Mortgage Association, 6.50%, 08/01/36	440	478
	Federal National Mortgage Association, 7.00%, 09/01/36	176	195
	Federal National Mortgage Association, 6.00%, 10/01/36	561	599
	Federal National Mortgage Association, 6.50%, 10/01/36	1,229	1,336
	Federal National Mortgage Association, 5.00%, 11/01/36	318	328
	Federal National Mortgage Association, 5.50%, 11/01/36	238	252
	Federal National Mortgage Association, 5.50%, 11/01/36	681	719
	Federal National Mortgage Association, 6.00%, 11/01/36	786	839
	Federal National Mortgage Association, 3.44%, 12/01/36 (i)	415	432
	Federal National Mortgage Association, 6.00%, 12/01/36	754	805
	Federal National Mortgage Association, 6.50%, 12/01/36	245	266
	Federal National Mortgage Association, 5.50%, 01/01/37	98	103
	Federal National Mortgage Association, 6.50%, 01/01/37	496	539
	Federal National Mortgage Association, 6.50%, 01/01/37	462	502
	Federal National Mortgage Association, 5.44%, 02/01/37 (i)	60	63
	Federal National Mortgage Association, 5.50%, 02/01/37	586	619
	Federal National Mortgage Association, 5.50%, 02/01/37	167	177
	Federal National Mortgage Association, 5.55%, 02/01/37 (i)	732	765
	Federal National Mortgage Association, 5.64%, 02/01/37 (i)	466	488
	Federal National Mortgage Association, 6.00%, 02/01/37	547	581
	Federal National Mortgage Association, 6.50%, 02/01/37	156	170
	Federal National Mortgage Association, 5.50%, 03/01/37	195	206
	Federal National Mortgage Association, 7.00%, 03/01/37	237	263
	Federal National Mortgage Association, 5.00%, 04/01/37	473	489
	Federal National Mortgage Association, 5.65%, 04/01/37 (i)	161	169
	Federal National Mortgage Association, 5.83%, 04/01/37 (i)	1,447	1,512
	Federal National Mortgage Association, 6.00%, 04/01/37	1,083	1,152
	Federal National Mortgage Association, 7.00%, 04/01/37	192	213
	Federal National Mortgage Association, 7.00%, 04/01/37	284	315
	Federal National Mortgage Association, 5.50%, 05/01/37	326	344
	Federal National Mortgage Association, 5.50%, 05/01/37	23	24
	Federal National Mortgage Association, 5.50%, 05/01/37	1,021	1,077
	Federal National Mortgage Association, 5.50%, 06/01/37	557	588
	Federal National Mortgage Association, 6.00%, 06/01/37	805	856
	Federal National Mortgage Association, 5.50%, 08/01/37	109	115
	Federal National Mortgage Association, 6.00%, 08/01/37	323	344
	Federal National Mortgage Association, 6.00%, 09/01/37	87	93
	Federal National Mortgage Association, 5.50%, 10/01/37	263	277
	Federal National Mortgage Association, 6.00%, 10/01/37	1,574	1,675
	Federal National Mortgage Association, 6.50%, 10/01/37	907	984
	Federal National Mortgage Association, 6.50%, 10/01/37	457	496
	Federal National Mortgage Association, 5.50%, 11/01/37	482	509
	Federal National Mortgage Association, 5.50%, 11/01/37	287	303
	Federal National Mortgage Association, 6.00%, 11/01/37	921	980
	Federal National Mortgage Association, 6.00%, 11/01/37	420	447
	Federal National Mortgage Association, 7.50%, 11/01/37	91	102
	Federal National Mortgage Association, 5.50%, 12/01/37	277	292
	Federal National Mortgage Association, 5.50%, 12/01/37	110	116
	Federal National Mortgage Association, 5.50%, 12/01/37	463	488
	Federal National Mortgage Association, 5.50%, 12/01/37	267	282
	Federal National Mortgage Association, 6.00%, 12/01/37	917	976
	Federal National Mortgage Association, 6.00%, 12/01/37	865	920
	Federal National Mortgage Association, 5.00%, 01/01/38	191	197
	Federal National Mortgage Association, 5.24%, 01/01/38 (i)	1,559	1,640
	Federal National Mortgage Association, 5.50%, 01/01/38	308	325
	Federal National Mortgage Association, 5.50%, 01/01/38	2,049	2,162
	Federal National Mortgage Association, 6.00%, 12/01/37	624	664
	Federal National Mortgage Association, 5.50%, 02/01/38	353	372
	Federal National Mortgage Association, 5.50%, 02/01/38	261	275
	Federal National Mortgage Association, 6.00%, 02/01/38	347	369
	Federal National Mortgage Association, 6.00%, 02/01/38	901	958
	Federal National Mortgage Association, 6.00%, 02/01/38	499	531
	Federal National Mortgage Association, 7.00%, 02/01/38	332	368
	Federal National Mortgage Association, 4.50%, 03/01/38	2,376	2,385
	Federal National Mortgage Association, 5.50%, 03/01/38	396	418
	Federal National Mortgage Association, 5.50%, 03/01/38	603	636
	Federal National Mortgage Association, 5.50%, 03/01/38	585	617
	Federal National Mortgage Association, 5.99%, 03/01/38 (i)	1,000	1,051
	Federal National Mortgage Association, 7.00%, 03/01/38	458	508
	Federal National Mortgage Association, 5.50%, 05/01/38	453	478
	Federal National Mortgage Association, 6.00%, 05/01/38	667	709
	Federal National Mortgage Association, 4.50%, 06/01/38	475	477
	Federal National Mortgage Association, 4.50%, 06/01/38	466	468
	Federal National Mortgage Association, 5.50%, 10/14/38	46	48
	Federal National Mortgage Association, 5.50%, 07/01/38	272	287
	Federal National Mortgage Association, 5.50%, 07/01/38	507	534
	Federal National Mortgage Association, 6.00%, 07/01/38	1,023	1,088
	Federal National Mortgage Association, 5.50%, 08/01/38	380	401
	Federal National Mortgage Association, 5.50%, 08/01/38	792	836
	Federal National Mortgage Association, 5.50%, 08/01/38	18	19
	Federal National Mortgage Association, 5.50%, 08/01/38	2,096	2,211
	Federal National Mortgage Association, 6.00%, 08/01/38	703	747
	Federal National Mortgage Association, 5.50%, 09/01/38	95	100
	Federal National Mortgage Association, 6.00%, 09/01/38	871	927
	Federal National Mortgage Association, 6.00%, 09/01/38	225	240
	Federal National Mortgage Association, 6.50%, 09/01/38	226	245
	Federal National Mortgage Association, 6.50%, 09/01/38	605	656
	Federal National Mortgage Association, 5.50%, 10/01/38	434	458
	Federal National Mortgage Association, 5.50%, 10/01/38	21	22
	Federal National Mortgage Association, 5.50%, 10/01/38	282	297
	Federal National Mortgage Association, 6.00%, 10/01/38	929	987
	Federal National Mortgage Association, 5.50%, 11/01/38	397	419
	Federal National Mortgage Association, 5.50%, 11/01/38	21	22
	Federal National Mortgage Association, 5.50%, 11/01/38	756	797
	Federal National Mortgage Association, 5.50%, 11/01/38	195	206
	Federal National Mortgage Association, 5.50%, 11/01/38	167	177
	Federal National Mortgage Association, 5.50%, 11/01/38	425	449
	Federal National Mortgage Association, 5.50%, 12/01/38	172	181
	Federal National Mortgage Association, 5.50%, 12/01/38	19	20
	Federal National Mortgage Association, 5.50%, 12/01/38	242	255
	Federal National Mortgage Association, 6.50%, 10/01/38	720	781
	Federal National Mortgage Association, 4.50%, 01/01/39	855	858
	Federal National Mortgage Association, 5.50%, 01/01/39	1,761	1,858
	Federal National Mortgage Association, 5.50%, 01/01/39	344	363
	Federal National Mortgage Association, 5.50%, 01/01/39	270	284
	Federal National Mortgage Association, 6.00%, 01/01/39	723	769
	Federal National Mortgage Association, 4.00%, 02/01/39	39	38
	Federal National Mortgage Association, 4.50%, 02/01/39	959	962
	Federal National Mortgage Association, 5.00%, 02/01/39	738	762
	Federal National Mortgage Association, 5.50%, 02/01/39	814	859
	Federal National Mortgage Association, 4.00%, 03/01/39	648	629
	Federal National Mortgage Association, 4.50%, 03/01/39	1,412	1,417
	Federal National Mortgage Association, 5.00%, 03/01/39	2,688	2,776
	Federal National Mortgage Association, 4.50%, 04/01/39	954	957
	Federal National Mortgage Association, 5.00%, 04/01/39	188	194
	Federal National Mortgage Association, 7.00%, 04/01/39	138	153
	Federal National Mortgage Association, 4.00%, 05/01/39	968	940
	Federal National Mortgage Association, 4.00%, 05/01/39	30	29
	Federal National Mortgage Association, 4.00%, 06/01/39	599	582
	Federal National Mortgage Association, 4.50%, 06/01/39	1,380	1,385
	Federal National Mortgage Association, 5.00%, 06/01/39	1,827	1,887
	Federal National Mortgage Association, 4.00%, 07/01/39	688	667
	Federal National Mortgage Association, 4.46%, 07/01/39 (i)	2,725	2,834
	Federal National Mortgage Association, 4.50%, 07/01/39	1,991	1,998
	Federal National Mortgage Association, 4.00%, 08/01/39	1,498	1,453
	Federal National Mortgage Association, 4.00%, 08/01/39	1,470	1,427
	Federal National Mortgage Association, 4.50%, 08/01/39	2,447	2,455
	Federal National Mortgage Association, 4.00%, 09/01/39	988	958
	Federal National Mortgage Association, 5.00%, 09/01/39	2,811	2,903
	Federal National Mortgage Association, 6.00%, 09/01/39	221	235
	Federal National Mortgage Association, 4.50%, 11/01/39	2,587	2,596
	Federal National Mortgage Association, 5.00%, 11/01/39	985	1,017
	Federal National Mortgage Association, 3.81%, 12/01/39 (i)	985	1,015
	Federal National Mortgage Association, 4.50%, 12/01/39	500	502
	Federal National Mortgage Association, 4.50%, 12/01/39	989	992
	Federal National Mortgage Association, 4.50%, 01/01/40	1,495	1,500
	Federal National Mortgage Association, 5.00%, 01/01/40	1,976	2,041
	Federal National Mortgage Association, 5.00%, 01/01/40	3,135	3,238
	Federal National Mortgage Association, 5.50%, 01/01/40	399	420
	Federal National Mortgage Association, 5.50%, 01/01/40	330	348
	Federal National Mortgage Association, 3.72%, 02/01/40 (i)	1,994	2,054
	Federal National Mortgage Association, 4.50%, 02/01/40	1,099	1,102
	Federal National Mortgage Association, 5.50%, 01/01/49	1,978	2,095
			205,127
Government National Mortgage Association - 5.4%
	Government National Mortgage Association, 8.00%, 04/15/30	20	23
	Government National Mortgage Association, 8.50%, 06/15/30	6	7
	Government National Mortgage Association, 8.50%, 12/15/30	-	-
	Government National Mortgage Association, 6.50%, 01/15/32	79	87
	Government National Mortgage Association, 6.00%, 05/15/32	87	93
	Government National Mortgage Association, 6.00%, 10/15/32	53	58
	Government National Mortgage Association, 6.00%, 01/15/33	83	90
	Government National Mortgage Association, 5.00%, 03/15/33	9	10
	Government National Mortgage Association, 5.00%, 05/15/33	12	13
	Government National Mortgage Association, 5.00%, 05/15/33	9	9
	Government National Mortgage Association, 5.00%, 05/15/33	9	10
	Government National Mortgage Association, 5.00%, 06/15/33	10	10
	Government National Mortgage Association, 5.50%, 07/15/33	237	253
	Government National Mortgage Association, 5.50%, 07/15/33	245	263
	Government National Mortgage Association, 5.00%, 08/15/33	8	8
	Government National Mortgage Association, 5.00%, 08/15/33	13	14
	Government National Mortgage Association, 5.00%, 08/15/33	8	8
	Government National Mortgage Association, 5.00%, 08/15/33	92	96
	Government National Mortgage Association, 5.00%, 08/15/33	7	8
	Government National Mortgage Association, 5.50%, 08/15/33	176	188
	Government National Mortgage Association, 5.50%, 09/15/33	51	54
	Government National Mortgage Association, 5.00%, 11/15/33	10	11
	Government National Mortgage Association, 6.50%, 12/15/33	146	160
	Government National Mortgage Association, 6.00%, 07/15/34	21	23
	Government National Mortgage Association, 6.00%, 08/15/34	266	286
	Government National Mortgage Association, 5.00%, 01/15/35	531	554
	Government National Mortgage Association, 5.00%, 03/15/35	173	181
	Government National Mortgage Association, 5.50%, 04/15/35	208	221
	Government National Mortgage Association, 6.00%, 05/15/35	11	12
	Government National Mortgage Association, 5.00%, 11/15/35	119	124
	Government National Mortgage Association, 5.50%, 11/15/35	351	373
	Government National Mortgage Association, 5.50%, 12/15/35	223	237
	Government National Mortgage Association, 5.50%, 02/15/36	258	274
	Government National Mortgage Association, 6.00%, 02/15/36	49	52
	Government National Mortgage Association, 5.50%, 03/15/36	52	55
	Government National Mortgage Association, 5.50%, 03/15/36	106	112
	Government National Mortgage Association, 6.50%, 03/15/36	79	86
	Government National Mortgage Association, 6.00%, 05/15/36	220	236
	Government National Mortgage Association, 5.50%, 06/15/36	151	160
	Government National Mortgage Association, 6.50%, 06/15/36	202	218
	Government National Mortgage Association, 7.00%, 11/15/36	194	212
	Government National Mortgage Association, 6.00%, 01/15/37	188	201
	Government National Mortgage Association, 6.00%, 04/15/37	338	362
	Government National Mortgage Association, 5.50%, 05/15/37	525	557
	Government National Mortgage Association, 5.50%, 05/15/37	334	354
	Government National Mortgage Association, 6.50%, 09/15/37	215	232
	Government National Mortgage Association, 6.00%, 11/15/37	197	210
	Government National Mortgage Association, 5.00%, 12/15/37	418	436
	Government National Mortgage Association, 6.00%, 12/15/37	326	349
	Government National Mortgage Association, 6.00%, 12/15/37	123	132
	Government National Mortgage Association, 6.50%, 02/15/38	87	93
	Government National Mortgage Association, 4.50%, 03/15/38	74	75
	Government National Mortgage Association, 5.50%, 03/15/38	487	516
	Government National Mortgage Association, 5.50%, 05/15/38	347	368
	Government National Mortgage Association, 5.00%, 06/15/38	3,050	3,178
	Government National Mortgage Association, 5.50%, 06/15/38	500	530
	Government National Mortgage Association, 5.50%, 06/15/38	24	26
	Government National Mortgage Association, 5.50%, 06/15/38	881	933
	Government National Mortgage Association, 5.50%, 07/15/38	63	67
	Government National Mortgage Association, 5.50%, 07/15/38	81	86
	Government National Mortgage Association, 5.50%, 07/15/38	39	42
	Government National Mortgage Association, 6.50%, 07/15/38	355	383
	Government National Mortgage Association, 6.00%, 08/15/38	371	396
	Government National Mortgage Association, 6.00%, 08/15/38	646	691
	Government National Mortgage Association, 6.50%, 08/15/38	378	408
	Government National Mortgage Association, 5.50%, 09/15/38	1,303	1,381
	Government National Mortgage Association, 6.00%, 09/15/38	473	506
	Government National Mortgage Association, 6.00%, 09/15/38	913	976
	Government National Mortgage Association, 6.00%, 10/15/38	602	644
	Government National Mortgage Association, 6.50%, 10/15/38	1,000	1,079
	Government National Mortgage Association, 5.50%, 11/15/38	705	747
	Government National Mortgage Association, 6.00%, 12/15/38	26	28
	Government National Mortgage Association, 5.50%, 01/15/39	450	476
	Government National Mortgage Association, 6.00%, 01/15/39	436	467
	Government National Mortgage Association, 4.50%, 02/15/39	198	201
	Government National Mortgage Association, 4.50%, 03/15/39	52	53
	Government National Mortgage Association, 4.50%, 04/15/39	520	527
	Government National Mortgage Association, 4.50%, 04/15/39	1,041	1,056
	Government National Mortgage Association, 4.50%, 04/15/39	981	994
	Government National Mortgage Association, 4.50%, 05/15/39	513	520
	Government National Mortgage Association, 4.50%, 05/15/39	57	58
	Government National Mortgage Association, 4.50%, 05/15/39	993	1,007
	Government National Mortgage Association, 4.50%, 05/15/39	666	675
	Government National Mortgage Association, 5.00%, 05/15/39	966	1,006
	Government National Mortgage Association, 4.00%, 06/15/39	1,166	1,143
	Government National Mortgage Association, 4.50%, 06/15/39	712	722
	Government National Mortgage Association, 4.50%, 06/15/39	492	499
	Government National Mortgage Association, 5.00%, 06/15/39	1,416	1,475
	Government National Mortgage Association, 5.00%, 07/15/39	1,000	1,042
	Government National Mortgage Association, 4.50%, 08/15/39	1,978	2,005
	Government National Mortgage Association, 5.00%, 08/15/39	2,000	2,083
	Government National Mortgage Association, 5.00%, 09/15/39	1,479	1,541
	Government National Mortgage Association, 5.00%, 09/15/39	1,922	2,002
	Government National Mortgage Association, 5.00%, 09/15/39	999	1,040
	Government National Mortgage Association, 5.50%, 09/15/39	957	1,014
	Government National Mortgage Association, 5.50%, 09/15/39	446	473
	Government National Mortgage Association, 5.50%, 09/15/39	952	1,010
	Government National Mortgage Association, 6.00%, 09/15/39	410	437
	Government National Mortgage Association, 4.50%, 11/15/39	495	502
	Government National Mortgage Association, 4.50%, 12/15/39	996	1,010
	Government National Mortgage Association, 4.50%, 12/15/39	996	1,010
	Government National Mortgage Association, 5.00%, 12/15/39	991	1,033
	Government National Mortgage Association, 6.00%, 12/15/39	927	991
	Government National Mortgage Association, 4.50%, 01/15/40	299	303
	Government National Mortgage Association, 4.50%, 02/15/40	700	710
	Government National Mortgage Association, 4.50%, 03/15/40	1,000	1,014
			50,974
	Total Government and Agency Obligations (cost $688,673)		697,835
SHORT TERM INVESTMENTS - 11.1%
Mutual Funds - 3.8%
	JNL Money Market Fund, 0.03% (a) (h)	36,051	36,051
Securities Lending Collateral - 7.3%
	Securities Lending Cash Collateral Fund LLC, 0.24% (a) (h)	40,449	40,449
	Securities Lending Liquidating Fund LLC, 0.38% (a) (h)	28,995	28,995
			69,444
	Total Short Term Investments (cost $105,495)		105,495
Total Investments - 108.9% (cost $1,017,960)			1,031,256
Other Assets and Liabilities, Net -  (8.9%)			(84,041)
Total Net Assets - 100%			$      947,215
JNL/Mellon Capital Management Global Alpha Fund
SHORT TERM INVESTMENTS - 99.9%
Commercial Paper - 15.5%
	Bank of America Corp., 0.20%, 04/28/10	$             1,000	$          1,000
	BNP Paribas, 0.30%, 04/08/10	900	900
	Calyon NY, 0.21%, 04/13/10	1,500	1,500
	Commerzbank US Finance Inc., 0.23%, 05/03/10	1,500	1,500
	ING Funding LLC, 0.17%, 04/07/10	1,000	1,000
	Intesa Funding LLC, 0.25%, 07/06/10	1,000	998
	Nordea Bank NA, 0.19%, 04/29/10	1,000	1,000
	Royal Bank of Scotland, 0.17%, 04/13/10	1,000	1,000
	Santander Central Hispano Finance Inc., 0.22%, 06/03/10	1,600	1,599
	Societe Generale, 0.22%, 04/30/10	1,000	1,000
	Svenska Handelsbanken, 0.23%, 06/10/10	1,700	1,699
	Toyota Motor Corp., 0.27%, 04/06/10	1,600	1,600
			14,796
Federal Home Loan Bank - 16.8%
	Federal Home Loan Bank, 0.12%, 04/08/10	1,000	1,000
	Federal Home Loan Bank, 0.14%, 04/16/10	2,500	2,500
	Federal Home Loan Bank, 0.13%, 04/21/10	2,000	2,000
	Federal Home Loan Bank, 0.09%, 04/29/10	3,000	3,000
	Federal Home Loan Bank, 0.09%, 04/30/10	4,000	4,000
	Federal Home Loan Bank, 0.09%, 05/13/10	3,500	3,500
			16,000
Federal Home Loan Mortgage Corp. - 15.7%
	Federal Home Loan Mortgage Corp., 0.10%, 04/01/10	1,000	1,000
	Federal Home Loan Mortgage Corp., 0.12%, 04/01/10	1,000	1,000
	Federal Home Loan Mortgage Corp., 0.14%, 04/15/10	2,100	2,100
	Federal Home Loan Mortgage Corp., 0.15%, 04/19/10	1,930	1,930
	Federal Home Loan Mortgage Corp., 0.14%, 05/04/10	2,900	2,900
	Federal Home Loan Mortgage Corp., 0.13%, 05/12/10	2,500	2,500
	Federal Home Loan Mortgage Corp., 0.15%, 05/12/10	3,570	3,568
			14,998
Federal National Mortgage Association - 16.8%
	Federal National Mortgage Association, 0.11%, 04/07/10	5,105	5,105
	Federal National Mortgage Association, 0.13%, 04/12/10	400	400
	Federal National Mortgage Association, 0.07%, 04/14/10	1,000	1,000
	Federal National Mortgage Association, 0.14%, 04/19/10	2,000	2,000
	Federal National Mortgage Association, 0.14%, 04/28/10	2,500	2,500
	Federal National Mortgage Association, 0.12%, 05/10/10	1,260	1,260
	Federal National Mortgage Association, 0.13%, 05/17/10	3,735	3,733
			15,998
Mutual Funds - 4.7%
	JNL Money Market Fund, 0.03% (a) (h)	4,440	4,440
U.S. Treasury Securities - 30.4%
	U.S. Treasury Bill, 0.08%, 04/08/10	5,580	5,580
	U.S. Treasury Bill, 0.16%, 04/22/10	13,600	13,599
	U.S. Treasury Bill, 0.15%, 05/13/10	7,120	7,119
	U.S. Treasury Bill, 0.13%, 06/10/10 (o)	2,740	2,739
			29,037
	Total Short Term Investments (cost $95,269)		95,269
Total Investments - 99.9% (cost $95,269)			95,269
Other Assets and Liabilities, Net - 0.1%			78
Total Net Assets - 100%			$        95,347

JNL/Oppenheimer Global Growth Fund
COMMON STOCKS - 96.6%
CONSUMER DISCRETIONARY - 15.4%
	Bayerische Motoren Werke AG		26	$          1,191
	Bulgari SpA (e)		209	1,701
	Carnival Corp. (c)		149	5,789
	Grupo Televisa SA - ADR		190	4,004
	Inditex SA		64	4,245
	Lottomatica SpA		25	484
	LVMH Moet Hennessy Louis Vuitton SA		55	6,392
	McDonald's Corp.		78	5,171
	Shuffle Master Inc. (c)		73	595
	Sirius XM Radio Inc. (c) (e)		1,132	985
	Sony Corp.		164	6,292
	Tiffany & Co.		104	4,934
	Tod's SpA		34	2,479
	Walt Disney Co.		164	5,718
	Wire & Wireless India Ltd. - Partial Shares (c)		207	28
	Wire & Wireless India Ltd. (f)		207	39
	Zee Entertainment Enterprises Ltd.		250	1,496
				51,543
CONSUMER STAPLES - 9.7%
	Cia de Bebidas das Americas - ADR (e)		25	2,261
	Colgate-Palmolive Co.		53	4,553
	Diageo Plc		80	1,336
	Fomento Economico Mexicano SAB de CV (e)		961	4,570
	Grupo Modelo SAB de CV (c)		474	2,797
	Nestle SA		65	3,314
	Reckitt Benckiser Group Plc		32	1,737
	Shinsegae Co. Ltd.		1	316
	Tesco Plc		461	3,045
	Unilever Plc		133	3,896
	Wal-Mart Stores Inc.		85	4,726
				32,551
ENERGY - 4.4%
	Husky Energy Inc.		86	2,455
	Technip SA		51	4,131
	Total SA		75	4,360
	Transocean Ltd. (c)		43	3,721
				14,667
FINANCIALS - 14.0%
	3i Group Plc		303	1,339
	AFLAC Inc.		85	4,588
	Allianz SE		37	4,601
	Credit Suisse Group AG		155	7,970
	Dai-Ichi Life Insurance Co. Ltd. (f)		1	1,953
	Fidelity National Financial Inc. - Class A		114	1,685
	HSBC Holdings Plc (e)		458	4,667
	Investor AB - Class B		181	3,478
	SLM Corp. (c)		350	4,376
	Societe Generale - Class A		38	2,415
	Sumitomo Mitsui Financial Group Inc.		83	2,740
	UBS AG (c)		221	3,598
	XL Capital Ltd. - Class A		185	3,491
				46,901
HEALTH CARE - 7.6%
	Aetna Inc.		124	4,336
	Amylin Pharmaceuticals Inc. (c)		86	1,927
	Basilea Pharmaceutical AG (c) (e)		3	246
	Bayer AG		13	862
	Dendreon Corp. (c) (e)		22	802
	InterMune Inc. (c)		38	1,689
	Mitsubishi Tanabe Pharma Corp.		46	649
	Regeneron Pharmaceuticals Inc. (c)		24	638
	Roche Holding AG		26	4,294
	Sanofi-Aventis SA		27	2,022
	Santen Pharmaceutical Co. Ltd.		-	4
	Seattle Genetics Inc. (c)		89	1,064
	Theravance Inc. (c)		67	894
	WellPoint Inc. (c)		72	4,642
	Zimmer Holdings Inc. (c)		27	1,587
				25,656
INDUSTRIALS - 13.6%
	3M Co.		58	4,880
	Assa Abloy AB		252	4,924
	Boeing Co.		24	1,721
	Emerson Electric Co.		58	2,940
	Empresa Brasileira de Aeronautica SA - ADR (e)		110	2,638
	European Aeronautic Defence & Space Co. NV		160	3,223
	Fanuc Ltd.		16	1,655
	Koninklijke Philips Electronics NV (e)		139	4,451
	Lockheed Martin Corp.		22	1,847
	Prysmian SPA		57	1,120
	Raytheon Co.		54	3,062
	Secom Co. Ltd.		48	2,117
	Siemens AG		85	8,503
	TNT NV		86	2,462
				45,543
INFORMATION TECHNOLOGY - 29.0%
	Adobe Systems Inc. (c)		118	4,188
	Altera Corp.		194	4,714
	Automatic Data Processing Inc.		105	4,665
	Corning Inc.		206	4,161
	eBay Inc. (c)		283	7,632
	Hoya Corp.		124	3,407
	Infosys Technologies Ltd.		105	6,121
	Intuit Inc. (c)		172	5,889
	Juniper Networks Inc. (c) (e)		231	7,099
	Keyence Corp.		11	2,701
	Kyocera Corp.		19	1,842
	Maxim Integrated Products Inc.		163	3,164
	MediaTek Inc.		174	3,019
	Microsoft Corp.		216	6,319
	Murata Manufacturing Co. Ltd.		70	3,964
	Nidec Corp.		21	2,219
	Nintendo Co. Ltd. (e)		7	2,377
	Omron Corp.		1	14
	SAP AG		116	5,603
	Taiwan Semiconductor Manufacturing Co. Ltd.		1,458	2,823
	Tandberg ASA		66	1,888
	Telefonaktiebolaget LM Ericsson - Class B		1,261	13,293
				97,102
MATERIALS - 0.4%
	Linde AG		10	1,174
TELECOMMUNICATION SERVICES - 1.8%
	KDDI Corp.		1	3,132
	Vodafone Group Plc		1,306	3,013
				6,145
UTILITIES - 0.7%
	Fortum Oyj (e)		92	2,251
	Total Common Stocks (cost $306,214)			323,533
PREFERRED STOCKS - 0.6%
CONSUMER DISCRETIONARY - 0.6%
	Bayerische Motoren Werke AG		57	1,991
	Total Preferred Stocks (cost $1,748)			1,991
NON-U.S. GOVERNMENT AGENCY ASSET-BACKED SECURITIES - 0.0%
	Sigma Finance, Inc. (d) (f) (u)		$                753	33
	Total Non-U.S. Government Agency Asset-Backed Securities (cost $753)			33
CORPORATE BONDS AND NOTES - 0.1%
HEALTH CARE - 0.1%
	Theravance Inc., 3.00%, 01/15/15		270	233
	Total Corporate Bonds and Notes (cost $270)			233
SHORT TERM INVESTMENTS - 11.6%
Mutual Funds - 3.6%
	JNL Money Market Fund, 0.03% (a) (h)		12,264	12,264
Securities Lending Collateral - 8.0%
	Securities Lending Cash Collateral Fund LLC, 0.24% (a) (h)		20,649	20,649
	Securities Lending Liquidating Fund LLC, 0.38% (a) (h)		6,201	6,201
				26,850
	Total Short Term Investments (cost $39,114)			39,114
Total Investments - 108.9% (cost $348,099)				364,904
Other Assets and Liabilities, Net -  (8.9%)				(29,952)
Total Net Assets - 100%				$      334,952
JNL/PAM Asia ex-Japan Fund
COMMON STOCKS - 98.0%
CONSUMER DISCRETIONARY - 3.0%
	Hankook Tire Co. Ltd.		31	$             586
	Kangwon Land Inc.		79	1,184
	PT Astra International Tbk		323	1,487
				3,257
CONSUMER STAPLES - 4.3%
	Hengan International Group Co. Ltd.		234	1,745
	Shinsegae Co. Ltd.		6	2,895
				4,640
ENERGY - 4.5%
	China Petroleum & Chemical Corp. (e)		1,192	976
	CNOOC Ltd.		2,030	3,341
	GS Holdings Corp.		15	545
				4,862
FINANCIALS - 32.5%
	AMMB Holdings Bhd		825	1,264
	ARA Asset Management Ltd.		1,346	1,097
	Bangkok Bank Public Co. Ltd.		655	2,784
	Bank of China Ltd.		7,288	3,886
	China Construction Bank Corp.		1,217	997
	China Pacific Insurance Group Co. Ltd. (c)		557	2,466
	DBS Group Holdings Ltd.		146	1,487
	Hang Seng Bank Ltd. (e)		142	1,975
	Henderson Land Development Co. Ltd.		375	2,642
	ICICI Bank Ltd.		70	1,488
	Infrastructure Development Finance Co. Ltd.		255	914
	KB Financial Group Inc. (c)		52	2,488
	Metropolitan Bank & Trust Co.		1,328	1,469
	Ping an Insurance Group Co. of China Ltd. (e)		78	672
	PT Bank Rakyat Indonesia		1,421	1,288
	Rural Electrification Corp. Ltd.		218	1,219
	Samsung Fire & Marine Insurance Co. Ltd.		15	2,383
	Sino-Ocean Land Holdings Ltd. (e)		1,932	1,702
	Unitech Ltd.		376	616
	Wharf Holdings Ltd.		199	1,122
	Yuanta Financial Holding Co. Ltd.		2,133	1,279
				35,238
HEALTH CARE - 1.0%
	Ranbaxy Laboratories Ltd. (c)		104	1,103
INDUSTRIALS - 10.0%
	Aditya Birla Nuvo Ltd.		27	539
	Bakrie and Brothers Tbk PT (c)		38,224	307
	Far Eastern Textile Co. Ltd.		1,462	1,606
	Hutchison Whampoa Ltd.		431	3,153
	IVRCL Infrastructures & Projects Ltd.		314	1,162
	S1 Corp.		31	1,263
	SembCorp Industries Ltd.		673	1,987
	Suzlon Energy Ltd. (c)		555	888
				10,905
INFORMATION TECHNOLOGY - 20.0%
	AAC Acoustic Technologies Holdings Inc.		1,442	2,411
	HON HAI Precision Industry Co. Ltd.		736	3,189
	Largan Precision Co. Ltd.		75	1,128
	Lite-On Technology Corp.		350	465
	MediaTek Inc.		147	2,559
	Powertech Technology Inc.		178	637
	Samsung Electronics Co. Ltd.		6	4,482
	Shanda Games Ltd. - ADR (c)		263	1,893
	Sohu.com Inc. (c)		34	1,848
	Taiwan Semiconductor Manufacturing Co. Ltd.		1,124	2,176
	Wistron Corp.		498	905
				21,693
MATERIALS - 10.4%
	China Shanshui Cement Group Ltd.		2,886	1,613
	China Zhongwang Holdings Ltd. (c) (e)		2,047	1,798
	Hindalco Industries Ltd.		478	1,929
	Huabao International Holdings Ltd. (e)		760	913
	POSCO Inc.		3	1,178
	Sterlite Industries India Ltd.		122	2,302
	Taiwan Cement Corp.		1,634	1,541
				11,274
TELECOMMUNICATION SERVICES - 6.3%
	Axiata Group Bhd (c)		1,327	1,566
	China Mobile Ltd.		145	1,395
	China Unicom Hong Kong Ltd. (e)		2,302	2,591
	Telekomunikasi Indonesia Tbk PT		1,469	1,299
				6,851
UTILITIES - 6.0%
	China Resources Power Holdings Co. Ltd.		594	1,272
	GVK Power & Infrastructure Ltd. (c)		1,647	1,646
	Korea Electric Power Corp. (c)		77	2,502
	Tata Power Co. Ltd.		34	1,051
				6,471
	Total Common Stocks (cost $97,535)			106,294
NON-U.S. GOVERNMENT AGENCY ASSET-BACKED SECURITIES - 0.0%
	Sigma Finance, Inc. (d) (f) (u)		$                  22	1
	Total Non-U.S. Government Agency Asset-Backed Securities (cost $22)			1
SHORT TERM INVESTMENTS - 5.7%
Mutual Funds - 1.7%
	JNL Money Market Fund, 0.03% (a) (h)		1,839	1,839
Securities Lending Collateral - 4.0%
	Securities Lending Cash Collateral Fund LLC, 0.24% (a) (h)		4,107	4,107
	Securities Lending Liquidating Fund LLC, 0.38% (a) (h)		287	287
				4,394
	Total Short Term Investments (cost $6,233)			6,233
Total Investments - 103.7% (cost $103,790)				112,528
Other Assets and Liabilities, Net -  (3.7%)				(4,001)
Total Net Assets - 100%				$      108,527
JNL/PAM China-India Fund
COMMON STOCKS - 97.6%
CONSUMER DISCRETIONARY - 9.0%
	Focus Media Holding Ltd. - ADR (c) (e)		401	$          7,320
	GOME Electrical Appliances Holdings Ltd. (c) (e)		11,653	3,917
	Li Ning Co. Ltd.		866	3,138
	Mahindra & Mahindra Ltd.		415	5,005
	Sun TV Network Ltd.		378	3,601
				22,981
CONSUMER STAPLES - 3.1%
	Colgate-Palmolive India Ltd.		233	3,509
	ITC Ltd.		730	4,277
				7,786
ENERGY - 12.8%
	China Petroleum & Chemical Corp. (e)		6,674	5,467
	China Shenhua Energy Co. Ltd.		571	2,465
	CNOOC Ltd.		4,119	6,780
	Oil India Ltd. (c)		109	2,801
	Reliance Industries Ltd.		629	15,057
				32,570
FINANCIALS - 32.3%
	Axis Bank Ltd.		352	9,167
	Bank of China Ltd.		36,538	19,483
	China Pacific Insurance Group Co. Ltd. (c)		1,228	5,439
	Franshion Properties China Ltd. (e)		8,152	2,772
	ICICI Bank Ltd.		530	11,237
	Industrial & Commercial Bank of China (e)		17,599	13,419
	Infrastructure Development Finance Co. Ltd.		1,021	3,661
	LIC Housing Finances Ltd.		183	3,545
	Ping an Insurance Group Co. of China Ltd. (e)		660	5,687
	Rural Electrification Corp. Ltd.		894	4,991
	Sino-Ocean Land Holdings Ltd. (e)		3,284	2,893
				82,294
HEALTH CARE - 1.6%
	Dr. Reddy's Laboratories Ltd.		143	4,064
INDUSTRIALS - 5.7%
	Bharat Heavy Electricals Ltd.		70	3,718
	Larsen & Toubro Ltd.		6	204
	Mundra Port and Special Economic Zone Ltd.		201	3,541
	Sinotrans Shipping Ltd.		4,194	2,004
	Tata Motors Ltd.		147	2,474
	Tata Motors Ltd. - Class A		267	2,710
				14,651
INFORMATION TECHNOLOGY - 13.7%
	AAC Acoustic Technologies Holdings Inc.		1,710	2,859
	BYD Co. Ltd. (c) (e)		666	6,633
	Infosys Technologies Ltd.		205	11,918
	Mphasis Ltd.		340	4,695
	OnMobile Global Ltd. (c)		254	2,222
	Sohu.com Inc. (c)		70	3,833
	Travelsky Technology Ltd.		3,378	2,824
				34,984
MATERIALS - 11.7%
	China Resources Cement Holdings Ltd. (c) (e)		4,388	2,119
	China Zhongwang Holdings Ltd. (c) (e)		8,594	7,548
	Fosun International Ltd.		3,476	2,780
	Hindalco Industries Ltd.		927	3,743
	Huabao International Holdings Ltd.		2,490	2,992
	Sterlite Industries India Ltd.		183	3,460
	Tata Steel Ltd.		267	3,757
	Ultratech Cement Ltd.		134	3,451
				29,850
TELECOMMUNICATION SERVICES - 4.5%
	China Mobile Ltd.		886	8,519
	China Unicom Hong Kong Ltd. (e)		2,619	2,948
				11,467
UTILITIES - 3.2%
	GAIL India Ltd.		514	4,699
	GVK Power & Infrastructure Ltd. (c)		3,565	3,562
				8,261
	Total Common Stocks (cost $219,204)			248,908
NON-U.S. GOVERNMENT AGENCY ASSET-BACKED SECURITIES - 0.0%
	Sigma Finance, Inc. (d) (f) (u)		$                  40	2
	Total Non-U.S. Government Agency Asset-Backed Securities (cost $40)			2
SHORT TERM INVESTMENTS - 15.2%
Mutual Funds - 3.3%
	JNL Money Market Fund, 0.03% (a) (h)		8,473	8,473
Securities Lending Collateral - 11.9%
	Securities Lending Cash Collateral Fund LLC, 0.24% (a) (h)		29,879	29,879
	Securities Lending Liquidating Fund LLC, 0.38% (a) (h)		345	345
				30,224
	Total Short Term Investments (cost $38,697)			38,697
Total Investments - 112.8% (cost $257,941)				287,607
Other Assets and Liabilities, Net -  (12.8%)				(32,747)
Total Net Assets - 100%				$      254,860
JNL/PIMCO Real Return Fund
PREFERRED STOCKS - 0.0%
FINANCIALS - 0.0%
	Wells Fargo & Co., Convertible Preferred, 7.50%, Series L (p)		1	$             487
	Total Preferred Stocks (cost $500)			487
NON-U.S. GOVERNMENT AGENCY ASSET-BACKED SECURITIES - 10.5%
	ACE Securities Corp. REMIC, 0.34%, 06/25/37 (i)		$                398	329
	American Express Credit Account Master Trust, 0.25%, 01/15/13 (i)		1,300	1,300
	American General Mortgage Loan Trust, 5.15%, 03/25/40 (f) (s) (u)		5,000	4,999
	American Home Mortgage Assets REMIC, 0.44%, 09/25/46 (i)		5,318	2,803
	ARES CLO Funds, 0.48%, 03/12/18 (f) (i) (t)		1,484	1,409
	Banc of America Commercial Mortgage Inc. REMIC, 5.89%, 07/10/44 (i)		2,000	1,959
	Banc of America Large Loans Inc. REMIC, 0.76%, 08/15/29 (i) (t)		1,541	1,391
	BCAP LLC Trust REMIC, 0.42%, 01/25/37 (i)		560	287
	Bear Stearns Adjustable Rate Mortgage Trust REMIC, 3.70%, 05/25/33 (i)		108	105
	Bear Stearns Adjustable Rate Mortgage Trust REMIC, 3.53%, 02/25/34 (i)		743	632
	Bear Stearns Adjustable Rate Mortgage Trust REMIC, 4.14%, 11/25/34 (i)		771	689
	Bear Stearns Adjustable Rate Mortgage Trust REMIC, 3.56%, 01/25/35 (i)		1,420	1,284
	Bear Stearns Adjustable Rate Mortgage Trust REMIC, 4.97%, 01/25/35 (i)		665	632
	Bear Stearns Adjustable Rate Mortgage Trust REMIC, 2.93%, 03/25/35 (i)		126	120
	Bear Stearns Adjustable Rate Mortgage Trust REMIC, 2.05%, 08/25/35 (i)		126	118
	Bear Stearns Adjustable Rate Mortgage Trust REMIC, 2.15%, 08/25/35 (i)		220	205
	Bear Stearns Alt-A Trust REMIC, 5.65%, 01/25/36 (i)		1,013	570
	Bear Stearns Alt-A Trust REMIC, 3.85%, 08/25/36 (i)		399	209
	Bear Stearns Asset Backed Securities Trust REMIC, 1.25%, 10/25/37 (i)		1,155	760
	Bear Stearns Structured Products Inc. REMIC, 5.60%, 01/26/36 (i)		1,119	689
	Bear Stearns Structured Products Inc. REMIC, 5.62%, 12/26/46 (i)		1,158	711
	Capital Auto Receivables Asset Trust, 1.70%, 10/15/12 (i)		12,200	12,301
	Chase Issuance Trust, 0.65%, 09/17/12 (i)		7,000	7,009
	Chase Issuance Trust, 0.70%, 09/17/12 (i)		7,100	7,111
	Chevy Chase Mortgage Funding Corp. REMIC, 0.38%, 05/25/48 (i) (t)		1,160	519
	Citigroup Mortgage Loan Trust Inc. REMIC, 2.51%, 08/25/35 (i)		146	130
	Citigroup Mortgage Loan Trust Inc. REMIC, 4.25%, 08/25/35 (i)		203	180
	Citigroup Mortgage Loan Trust Inc. REMIC, 4.51%, 08/25/35 (i)		1,016	389
	Citigroup Mortgage Loan Trust Inc. REMIC, 0.33%, 01/25/37 (i)		323	221
	Citigroup Mortgage Loan Trust Inc. REMIC, 0.31%, 05/25/37 (i)		509	458
	Citigroup Mortgage Loan Trust Inc. REMIC, 5.94%, 09/25/37 (i)		5,459	3,718
	Citigroup Mortgage Loan Trust Inc. REMIC, 0.31%, 05/25/37 (i)		717	541
	Countrywide Asset-Backed Certificates REMIC, 0.43%, 09/25/36 (i)		746	588
	Countrywide Asset-Backed Certificates REMIC, 0.35%, 09/25/37 (i)		415	390
	Countrywide Home Loan Mortgage Pass-Through Trust REMIC, 3.97%, 08/25/34 (i)		615	427
	Countrywide Home Loan Mortgage Pass-Through Trust REMIC, 3.56%, 04/20/35 (i)		756	684
	Credit Suisse Mortgage Capital Certificates REMIC, 5.86%, 02/25/37 (i)		1,188	656
	Credit-Based Asset Servicing and Securitization LLC REMIC, 0.37%, 07/25/37 (i) (t)		536	412
	CS First Boston Mortgage Securities Corp. REMIC, 2.69%, 04/25/34 (i)		756	711
	Deutsche Bank Alternate Loan Trust REMIC, 0.34%, 08/25/37 (i)		303	292
	First Franklin Mortgage Loan Asset Backed Certificates REMIC, 0.30%, 11/25/36 (i)		237	232
	First Horizon Asset Securities Inc. Pass-Through Trust REMIC, 3.11%, 07/25/33 (i)		933	853
	First NLC Trust REMIC, 0.32%, 08/25/37 (i) (t)		673	464
	Ford Credit Auto Owner Trust, 2.00%, 12/15/11		937	940
	Ford Credit Auto Owner Trust, 2.75%, 01/15/12 (i)		10,100	10,353
	GE Capital Commercial Mortgage Corp. REMIC, 4.71%, 05/10/43		199	199
	GMAC Commercial Mortgage Securities Inc. REMIC, 5.24%, 11/10/45 (i)		2,000	2,041
	Greenwich Capital Commercial Funding Corp. REMIC, 5.44%, 03/10/39		4,000	3,890
	GS Mortgage Securities Corp. II, 0.34%, 03/06/20 (i) (t)		426	411
	GS Mortgage Securities Corp. II, 0.38%, 03/06/20 (i) (t)		2,000	1,864
	Harborview Mortgage Loan Trust REMIC, 2.99%, 04/19/34 (i)		806	691
	HFC Home Equity Loan Asset Backed Certificates REMIC, 5.91%, 03/20/36 (i)		2,094	2,109
	Honda Auto Receivables Owner Trust, 1.50%, 08/15/11		400	401
	HSI Asset Securitization Corp. Trust REMIC, 0.31%, 05/25/37 (i)		332	306
	Indymac Index Mortgage Loan Trust REMIC, 2.86%, 03/25/35 (i)		1,358	952
	IndyMac Residential Asset Backed Trust REMIC, 0.38%, 04/25/37 (i)		277	271
	IndyMac Residential Asset Backed Trust REMIC, 0.33%, 07/25/37 (i)		213	208
	LB-UBS Commercial Mortgage Trust REMIC, 5.42%, 02/15/40		6,200	6,006
	Lehman Brothers Mortgage Loan Trust REMIC, 0.34%, 06/25/37 (i) (t)		487	212
	Magnolia Funding Ltd., 3.00%, 04/20/17 (f) (s) (u)		1,000	1,359
	MASTR Adjustable Rate Mortgages Trust REMIC, 2.94%, 12/25/33 (i)		1,461	1,218
	MASTR Asset Backed Securities Trust REMIC, 0.33%, 05/25/37 (i)		336	320
	MBNA Credit Card Master Note Trust, 4.50%, 01/15/13		3,000	3,044
	Merrill Lynch First Franklin Mortgage Loan Trust REMIC, 0.31%, 06/25/37 (i)		316	309
	Merrill Lynch Mortgage Investors Inc. REMIC, 3.37%, 02/25/33 (i)		295	262
	Merrill Lynch Mortgage Investors Inc. REMIC, 3.01%, 02/25/34 (i)		683	643
	MLCC Mortgage Investors Inc. REMIC, 4.25%, 10/25/35 (i)		956	847
	Morgan Stanley Capital I REMIC, 0.31%, 05/25/37 (i)		456	381
	Morgan Stanley Dean Witter Capital I REMIC, 7.66%, 03/11/16 (i) (t)		1,000	1,059
	Nationstar Home Equity Loan Trust REMIC, 0.31%, 06/25/37 (i)		400	388
	Provident Funding Mortgage Loan Trust REMIC, 2.96%, 08/25/33 (i)		580	532
	Residential Asset Mortgage Products Inc. REMIC, 0.33%, 02/25/37 (i)		1,646	1,583
	Residential Asset Securities Corp. REMIC, 0.36%, 04/25/37 (i)		263	257
	Residential Asset Securitization Trust REMIC, 5.50%, 06/25/33		319	320
	Securitized Asset Backed Receivables LLC Trust REMIC, 0.38%, 05/25/37 (i)		536	372
	SLC Student Loan Trust REMIC, 0.66%, 09/15/14 (i)		62	62
	SLM Student Loan Trust, 0.23%, 04/25/14 (i)		540	540
	SLM Student Loan Trust, 0.70%, 01/25/17 (i)		3,100	3,102
	SLM Student Loan Trust, 0.25%, 04/25/17 (i)		439	439
	SLM Student Loan Trust, 0.36%, 04/25/17 (i)		385	384
	SLM Student Loan Trust, 1.75%, 04/25/23 (i)		10,336	10,688
	SLM Student Loan Trust REMIC, 0.29%, 04/25/19 (i)		6,300	6,050
	Soundview Home Equity Loan Trust REMIC, 0.33%, 06/25/37 (i)		4,343	3,661
	Structured Adjustable Rate Mortgage Loan Trust REMIC, 2.78%, 02/25/34 (i)		1,007	858
	Structured Asset Mortgage Investments Inc. REMIC, 0.57%, 10/19/34 (i)		47	41
	Structured Asset Mortgage Investments Inc. REMIC, 0.35%, 09/25/47 (i)		230	226
	Swan 2010-1, 4.29%, 04/25/41 (f)		1,000	919
	TBW Mortgage Backed Pass-Through Certificates REMIC, 5.97%, 09/25/36 (i)		491	260
	Thornburg Mortgage Securities Trust REMIC, 0.35%, 03/25/37 (i)		1,906	1,862
	Thornburg Mortgage Securities Trust REMIC, 0.35%, 03/25/37 (i)		1,008	965
	Wachovia Bank Commercial Mortgage Trust REMIC, 0.33%, 06/15/20 (i) (t)		1,049	926
	Wachovia Bank Commercial Mortgage Trust REMIC, 0.35%, 09/15/21 (i) (t)		1,512	1,348
	Washington Mutual Mortgage Pass-Through Certificates REMIC, 2.38%, 03/25/33 (i)		203	187
	Washington Mutual Mortgage Pass-Through Certificates REMIC, 2.87%, 06/25/33 (i)		667	634
	Washington Mutual Mortgage Pass-Through Certificates REMIC, 2.88%, 09/25/33 (i)		747	739
	Washington Mutual Mortgage Pass-Through Certificates REMIC, 1.46%, 08/25/46 (i)		1,789	1,057
	Wells Fargo Mortgage Backed Securities Trust REMIC, 4.98%, 12/25/34 (i)		857	843
	Wells Fargo Mortgage Backed Securities Trust REMIC, 5.21%, 04/25/36 (i)		3,162	2,679
	Total Non-U.S. Government Agency Asset-Backed Securities (cost $148,829)			141,705
CORPORATE BONDS AND NOTES - 28.5%
CONSUMER DISCRETIONARY - 0.2%
	JC Penney Corp. Inc., 7.95%, 04/01/17		1,300	1,456
	Macy's Retail Holdings Inc., 7.45%, 07/15/17 (e)		1,000	1,060
				2,516
CONSUMER STAPLES - 0.1%
	Reynolds American Inc., 0.96%, 06/15/11 (i)		700	697
ENERGY - 0.4%
	Gaz Capital SA, 7.34%, 04/11/13 (t)		300	325
	Kinder Morgan Energy Partners LP, 5.70%, 01/05/16		5,000	4,900
				5,225
FINANCIALS - 26.2%
	Allstate Life Global Funding Trust, 5.38%, 04/30/13		2,500	2,723
	American Express Bank FSB, 0.38%, 05/29/12 (i)		800	789
	American Express Centurion Bank, 0.33%, 07/13/10 (i)		1,700	1,700
	American Express Credit Co., 0.37%, 02/24/12 (i)		1,700	1,680
	American Express Credit Corp., 1.65%, 05/27/10 (i)		4,900	4,909
	American Express Credit Corp., 0.42%, 06/16/11 (i)		800	795
	American Honda Finance Corp., 1.02%, 06/20/11 (i) (t)		8,700	8,700
	American International Group Inc., 0.41%, 10/18/11 (i)		1,000	958
	American International Group Inc., 5.05%, 10/01/15		1,200	1,114
	American International Group Inc., 5.85%, 01/16/18		1,100	1,022
	American International Group Inc., 8.25%, 08/15/18 (e)		1,000	1,049
	American International Group Inc., 8.18%, 05/15/58 (i)		4,700	3,972
	ANZ National International Ltd., 6.20%, 07/19/13 (t)		2,000	2,204
	Australia & New Zealand Banking Group Ltd., 0.54%, 06/18/12 (i) (t)		5,000	4,987
	Bank of America Corp., 0.35%, 08/15/11 (i)		300	298
	Bank of America Corp., 5.38%, 06/15/14		600	630
	Bank of Scotland Plc, 4.88%, 04/15/11 (u)		1,400	1,460
	Barclays Bank Plc, 6.05%, 12/04/17 (t)		2,000	2,063
	Barclays Bank Plc, 7.43% (callable at 100 on 12/15/17) (p) (t)		200	197
	Citibank NA, 1.38%, 08/10/11 (e)		11,100	11,190
	Citigroup Inc., 6.50%, 01/18/11		9,800	10,188
	Citigroup Inc., 0.34%, 05/18/11 (i)		1,100	1,093
	Citigroup Inc., 5.25%, 02/27/12		1,300	1,361
	Citigroup Inc., 5.30%, 10/17/12		1,000	1,050
	Citigroup Inc., 5.50%, 04/11/13		1,200	1,261
	Commonwealth Bank of Australia, 0.71%, 07/12/13 (i) (t)		14,700	14,782
	Commonwealth Bank of Australia, 0.78%, 06/25/14 (i) (t)		3,800	3,848
	Commonwealth Bank of Australia, 0.54%, 09/17/14 (e) (i) (t)		3,800	3,813
	Countrywide Financial Corp., 5.80%, 06/07/12		6,000	6,378
	Countrywide Home Loans Inc., 4.00%, 03/22/11		700	720
	Dexia Credit Local, 0.93%, 09/23/11 (i) (t)		1,300	1,309
	Ford Motor Credit Co. LLC, 7.25%, 10/25/11		1,850	1,913
	Ford Motor Credit Co. LLC, 7.80%, 06/01/12		150	156
	GATX Financial Corp., 5.80%, 03/01/16		1,000	998
	General Electric Capital Corp., 0.27%, 09/21/12 (i)		15,200	15,211
	General Electric Capital Corp., 0.27%, 12/21/12 (i)		34,600	34,600
	Goldman Sachs Group Inc., 0.43%, 02/06/12 (i)		700	696
	HSBC Finance Corp., 0.50%, 05/10/10 (i)		2,500	2,501
	HSBC Finance Corp., 0.46%, 08/09/11 (i)		2,700	2,684
	HSBC Finance Corp., 0.52%, 04/24/12 (i)		3,602	3,571
	HSBC Finance Corp., 0.65%, 07/19/12 (i)		1,200	1,184
	ING Bank NV, 0.93%, 01/13/12 (i) (t)		7,700	7,684
	ING Bank NV, 1.09%, 03/30/12 (f) (i) (s) (u)		15,100	15,097
	International Lease Finance Corp., 0.62%, 07/01/11 (i)		2,000	1,878
	International Lease Finance Corp., 5.63%, 09/20/13		1,100	1,038
	International Lease Finance Corp., 6.63%, 11/15/13		500	487
	JPMorgan Chase & Co., 6.95%, 08/10/12		1,100	1,219
	LeasePlan Corp. NV, 3.00%, 05/07/12 (t)		1,800	1,860
	Lehman Brothers Holdings Inc., 6.20%, 09/26/14 (d)		200	46
	Lehman Brothers Holdings Inc., 6.88%, 05/02/18 (d)		1,200	284
	Lehman Brothers Holdings Inc., 7.00%, 09/27/27 (d)		100	23
	Macquarie Bank Ltd., 4.10%, 12/17/13 (e) (u)		27,200	28,926
	Marsh & McLennan Cos. Inc., 5.75%, 09/15/15		1,000	1,059
	Merrill Lynch & Co. Inc., 0.45%, 11/01/11 (e) (i)		3,800	3,755
	Merrill Lynch & Co. Inc., 0.48%, 06/05/12 (i)		1,000	981
	Merrill Lynch & Co. Inc., 6.05%, 08/15/12		12,300	13,136
	Merrill Lynch & Co. Inc., 1.39%, 09/27/12 (i)	EUR	600	789
	Merrill Lynch & Co. Inc., 5.45%, 07/15/14		200	209
	Metropolitan Life Global Funding I, 1.03%, 06/25/10 (i) (t)		500	501
	Metropolitan Life Global Funding I, 2.15%, 06/10/11 (i) (t)		7,400	7,522
	Metropolitan Life Global Funding I, 0.70%, 07/13/11 (i) (t)		400	399
	Metropolitan Life Global Funding I, 1.38%, 09/17/12 (i) (t)		1,100	1,105
	Morgan Stanley, 6.75%, 04/15/11		2,600	2,745
	Morgan Stanley, 0.55%, 01/09/12 (i)		9,700	9,590
	Morgan Stanley, 0.99%, 03/01/13 (i)	EUR	1,100	1,417
	Morgan Stanley, 0.60%, 01/09/14 (i)		5,300	5,067
	Morgan Stanley, 0.78%, 10/15/15 (i)		1,000	926
	Morgan Stanley, 0.75%, 10/18/16 (i)		1,000	914
	National Australia Bank Ltd., 5.35%, 06/12/13 (t)		1,700	1,832
	National Australia Bank Ltd., 0.79%, 07/08/14 (i) (t)		1,900	1,920
	New York Life Global Funding, 4.65%, 05/09/13 (t)		1,800	1,927
	Pacific Life Global Funding, 5.15%, 04/15/13 (t)		500	527
	Pearson Dollar Finance Plc, 5.70%, 06/01/14 (t)		1,000	1,081
	Royal Bank of Scotland Group Plc, 0.51%, 03/30/12 (i) (t)		18,800	18,813
	Royal Bank of Scotland Group Plc, 7.09% (callable at 100 on 09/29/17) (p)	EUR	100	83
	Royal Bank of Scotland Plc, 1.40%, 04/23/12		400	405
	Santander US Debt SA Unipersonal, 1.09%, 03/30/12 (i) (t)		12,700	12,692
	SLM Corp., 1.02%, 04/26/11 (i)	EUR	400	519
	SLM Corp., 0.48%, 10/25/11 (i)		1,400	1,331
	Sovereign Bancorp Inc., 4.90%, 09/23/10		4,100	4,164
	Svenska Handelsbanken AB, 1.26%, 09/14/12 (i) (t)		4,300	4,331
	TransCapitalInvest Ltd., 7.70%, 08/07/13 (t)		1,500	1,668
	UBS AG Stamford, 1.54%, 09/29/11 (i)		7,100	7,131
	UBS AG Stamford, 1.35%, 02/23/12 (i)		4,000	4,016
	Wachovia Corp., 0.43%, 10/15/11 (i)		4,200	4,181
	Wachovia Corp., 0.38%, 04/23/12 (i)		6,400	6,334
	Wells Fargo & Co., 0.45%, 10/28/15 (i)		500	473
	Wells Fargo & Co., 7.98% (callable at 100 on 03/15/18) (p)		1,300	1,358
	Wells Fargo Capital XIII, 7.70% (callable at 100 on 03/26/13) (p)		800	826
	Western Corporate Federal Credit Union, 1.75%, 11/02/12		6,100	6,118
	Westpac Banking Corp., 0.53%, 09/10/14 (i) (t)		700	701
				352,845
HEALTH CARE - 0.0%
	UnitedHealth Group Inc., 4.88%, 02/15/13		100	107
INDUSTRIALS - 0.4%
	PACCAR Inc., 1.43%, 09/14/12 (i)		3,700	3,769
	Waste Management Inc., 6.10%, 03/15/18		1,100	1,185
				4,954
INFORMATION TECHNOLOGY - 0.4%
	Seagate Technology Inc., 6.38%, 10/01/11		5,000	5,175
MATERIALS - 0.4%
	Dow Chemical Co., 2.50%, 08/08/11 (i)		4,000	4,070
	Dow Chemical Co., 4.85%, 08/15/12		1,000	1,058
	Rexam Plc, 6.75%, 06/01/13 (t)		700	768
				5,896
TELECOMMUNICATION SERVICES - 0.4%
	Telefonica Emisiones SAU, 0.58%, 02/04/13 (i)		4,641	4,540
	Verizon Wireless Capital LLC, 3.75%, 05/20/11		1,300	1,340
				5,880
	Total Corporate Bonds and Notes (cost $378,248)			383,295
GOVERNMENT AND AGENCY OBLIGATIONS - 86.0%
GOVERNMENT SECURITIES - 84.2%
Municipals - 0.1%
	Tobacco Settlement Authority of West Virgina, 7.47%, 06/01/47		480	380
	Tobacco Settlement Financing Corp. New Jersey, 4.75%, 06/01/34		1,000	687
	Tobacco Settlement Funding Corp., 5.00%, 06/01/41		200	129
				1,196
Sovereign - 4.4%
	ANZ National International Ltd., 0.69%, 08/19/14 (i) (t)		2,000	2,017
	Australian Government Bond, 3.00%, 09/20/25	AUD	7,000	6,633
	Bundesrepublic Deutschland, 3.75%, 01/04/15	EUR	8,700	12,619
	Canadian Government Bond, 2.00%, 12/01/14	CAD	3,100	2,945
	Canadian Government Bond, 2.50%, 06/01/15	CAD	14,600	14,093
	Republic of Deutschland, 4.25%, 07/04/18	EUR	2,100	3,111
	Societe Financement de l'Economie Francaise, 2.13%, 01/30/12 (e) (t)		400	406
	Societe Financement de l'Economie Francaise, 0.50%, 07/16/12 (i) (t)		10,600	10,636
	US Central Federal Credit Union, 1.90%, 10/19/12 (t)		6,600	6,661
				59,121
Treasury Inflation Index Securities - 79.5%
	Australian Government Inflation Indexed Bond, 6.16%, 08/20/15 (r) (x)	AUD	1,200	1,801
	Australian Government Inflation Indexed Bond, 5.71%, 08/20/20 (r) (x)	AUD	700	1,009
	U.S. Treasury Inflation Indexed Bond, 2.00%, 04/15/12 (r)		63,860	66,883
	U.S. Treasury Inflation Indexed Bond, 0.63%, 04/15/13, TBA (g) (r)		45,112	45,979
	U.S. Treasury Inflation Indexed Bond, 1.88%, 07/15/13 (r)		88,607	93,751
	U.S. Treasury Inflation Indexed Bond, 1.25%, 04/15/14, TBA (g) (r)		52,222	53,977
	U.S. Treasury Inflation Indexed Bond, 1.88%, 07/15/15 (r)		7,353	7,781
	U.S. Treasury Inflation Indexed Bond, 2.50%, 07/15/16, TBA (g) (r)		26,827	29,308
	U.S. Treasury Inflation Indexed Bond, 1.63%, 01/15/18 (r)		62,166	63,598
	U.S. Treasury Inflation Indexed Bond, 2.00%, 01/15/26, TBA (g) (r)		5,459	5,431
	U.S. Treasury Inflation Indexed Bond, 2.38%, 01/15/27 (r)		74,681	77,831
	U.S. Treasury Inflation Indexed Bond, 3.63%, 04/15/28, TBA (g) (r)		46,493	56,682
	U.S. Treasury Inflation Indexed Note, 0.88%, 04/15/10 (r)		1,487	1,488
	U.S. Treasury Inflation Indexed Note, 3.38%, 01/15/12 (r)		4,027	4,310
	U.S. Treasury Inflation Indexed Note, 3.00%, 07/15/12 (r)		19,765	21,290
	U.S. Treasury Inflation Indexed Note, 0.63%, 04/15/13 (o) (r)		718	731
	U.S. Treasury Inflation Indexed Note, 1.25%, 04/15/14 (r)		921	952
	U.S. Treasury Inflation Indexed Note, 2.00%, 07/15/14 (r)		21,037	22,379
	U.S. Treasury Inflation Indexed Note, 1.63%, 01/15/15 (o) (r)		59,124	61,766
	U.S. Treasury Inflation Indexed Note, 1.88%, 07/15/15 (o) (r)		58,709	62,130
	U.S. Treasury Inflation Indexed Note, 2.00%, 01/15/16 (r)		30,241	32,084
	U.S. Treasury Inflation Indexed Note, 2.50%, 07/15/16 (r)		9,657	10,550
	U.S. Treasury Inflation Indexed Note, 2.63%, 07/15/17 (r)		24,465	26,888
	U.S. Treasury Inflation Indexed Note, 1.63%, 01/15/18 (r)		1,241	1,270
	U.S. Treasury Inflation Indexed Note, 1.38%, 07/15/18 (e) (r)		10,752	10,760
	U.S. Treasury Inflation Indexed Note, 2.13%, 01/15/19 (e) (r)		14,937	15,734
	U.S. Treasury Inflation Indexed Note, 1.88%, 07/15/19 (r)		2,740	2,822
	U.S. Treasury Inflation Indexed Note, 1.38%, 01/15/20 (r)		40,082	39,286
	U.S. Treasury Inflation Indexed Note, 2.38%, 01/15/25 (r)		51,155	53,549
	U.S. Treasury Inflation Indexed Note, 2.00%, 01/15/26 (r)		36,683	36,491
	U.S. Treasury Inflation Indexed Note, 1.75%, 01/15/38 (o) (r)		51,840	49,074
	U.S. Treasury Inflation Indexed Note, 3.63%, 04/15/28 (r)		4,260	5,194
	U.S. Treasury Inflation Indexed Note, 2.50%, 01/15/29 (r)		43,600	46,087
	U.S. Treasury Inflation Indexed Note, 3.88%, 04/15/29 (r)		28,603	36,303
	U.S. Treasury Inflation Indexed Note, 2.13%, 02/15/40 (r)		26,968	26,734
				1,071,903
U.S. Treasury Securities - 0.2%
	U.S. Treasury Note, 2.38%, 02/28/15, TBA (g)		2,700	2,681
U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES - 1.8%
Federal Home Loan Mortgage Corp. - 0.4%
	Federal Home Loan Mortgage Corp., 6.59%, 07/01/36 (i)		963	1,018
	Federal Home Loan Mortgage Corp., 6.34%, 09/01/36 (i)		715	753
	Federal Home Loan Mortgage Corp., 6.51%, 10/01/36 (i)		1,114	1,173
	Federal Home Loan Mortgage Corp. REMIC, 5.50%, 05/15/16		183	184
	Federal Home Loan Mortgage Corp. REMIC, 5.00%, 05/15/27		459	466
	Federal Home Loan Mortgage Corp. REMIC, 1.67%, 10/25/44 (i)		837	801
	Federal Home Loan Mortgage Corp. REMIC, 1.67%, 02/25/45 (i)		621	592
				4,987
Federal National Mortgage Association - 0.5%
	Federal National Mortgage Association, 2.82%, 11/01/35 (i)		369	375
	Federal National Mortgage Association, 5.62%, 03/01/36 (i)		687	718
	Federal National Mortgage Association, 5.95%, 06/01/36 (i)		372	393
	Federal National Mortgage Association REMIC, 5.00%, 02/25/17		450	463
	Federal National Mortgage Association REMIC, 1.05%, 02/25/36 (i)		1,835	1,832
	Federal National Mortgage Association REMIC, 0.31%, 07/25/37 (i)		1,104	1,058
	Federal National Mortgage Association REMIC, 0.43%, 10/27/37		2,100	2,084
				6,923
Government National Mortgage Association - 0.8%
	Government National Mortgage Association REMIC, 0.54%, 03/20/37 (i)		11,116	10,950
Small Business Administration Participation Certificates - 0.1%
	Small Business Administration Participation Certificates, 5.29%, 12/01/27		1,660	1,782
	Total Government and Agency Obligations (cost $1,158,465)			1,159,543
SHORT TERM INVESTMENTS - 14.7%
Certificates of Deposit - 1.6%
	Barclays Bank Plc, 1.06%, 03/22/11 (i)		11,800	11,791
	Sanpaolo IMI SpA, 0.89%, 06/09/10 (i)		9,300	9,302
				21,093
Federal Home Loan Bank - 0.3%
	Federal Home Loan Bank, 0.00%, 04/01/10		4,000	4,000
Federal Home Loan Mortgage Corp. - 9.8%
	Federal Home Loan Mortgage Corp., 0.21%, 07/23/10		126,100	126,033
	Federal Home Loan Mortgage Corp., 0.23%, 08/03/10		6,900	6,895
				132,928
Mutual Funds - 0.2%
	JNL Money Market Fund, 0.03% (a) (h)		2,210	2,210
Securities Lending Collateral - 2.7%
	Securities Lending Cash Collateral Fund LLC, 0.24% (a) (h)		37,127	37,127
U.S. Treasury Securities - 0.1%
	U.S. Treasury Bill, 0.21%, 08/26/10 (e) (m)		710	709
	Total Short Term Investments (cost $198,059)			198,067
Total Investments - 139.7% (cost $1,884,101)				1,883,097
Other Assets and Liabilities, Net -  (39.7%) (o)				(534,905)
Total Net Assets - 100%				$   1,348,192
JNL/PIMCO Total Return Bond Fund
PREFERRED STOCKS - 0.2%
CONSUMER DISCRETIONARY - 0.0%
	General Motors Corp., 5.25%, Series B (callable at 25.55 on 06/04/10) (d)		128	$          1,092
FINANCIALS - 0.2%
	American International Group Inc., Convertible Preferred, 8.50%, 08/01/11		44	447
	Countrywide Financial Corp., 5.13%, 02/17/11	GBP	300	460
	DG Funding Trust, 2.54% (callable at 10,000 beginning 06/30/10) (f) (p) (s) (u)		-	3,407
				4,314
	Total Preferred Stocks (cost $5,705)			5,406
NON-U.S. GOVERNMENT AGENCY ASSET-BACKED SECURITIES - 6.3%
	Access Group Inc., 1.55%, 10/27/25 (i)		$             7,937	8,245
	Ally Auto Receivables Trust, 1.32%, 03/15/12 (t)		2,300	2,310
	American Home Mortgage Investment Trust REMIC, 2.39%, 02/25/45 (i)		397	311
	Amortizing Residential Collateral Trust REMIC, 0.83%, 07/25/32 (i)		15	14
	Asset Backed Securities Corp. Home Equity REMIC, 0.52%, 09/25/34 (i)		294	247
	Banc of America Commercial Mortgage Inc. REMIC, 5.93%, 05/10/45 (i)		2,000	2,072
	Banc of America Commercial Mortgage Inc. REMIC, 5.84%, 06/10/49 (i)		2,830	2,550
	Banc of America Funding Corp. REMIC, 3.01%, 05/25/35 (i)		572	526
	Banc of America Mortgage Securities Inc. REMIC, 6.50%, 10/25/31		78	77
	Banc of America Mortgage Securities Inc. REMIC, 6.50%, 09/25/33		37	38
	Bank of America Auto Trust, 1.70%, 12/15/11 (t)		1,582	1,587
	Bank of America Credit Card Trust, 0.83%, 04/15/13 (i)		1,800	1,803
	Bear Stearns Adjustable Rate Mortgage Trust REMIC, 3.52%, 11/25/34 (i)		1,649	1,393
	Bear Stearns Adjustable Rate Mortgage Trust REMIC, 4.14%, 11/25/34 (i)		496	443
	Bear Stearns Adjustable Rate Mortgage Trust REMIC, 2.93%, 03/25/35 (i)		4,380	4,146
	Bear Stearns Alt-A Trust REMIC, 5.16%, 09/25/35 (i)		477	353
	Bear Stearns Commercial Mortgage Securities Inc. REMIC, 5.33%, 02/11/44		300	289
	Bear Stearns Structured Products Inc. REMIC, 5.60%, 01/26/36 (i)		1,398	862
	Bear Stearns Structured Products Inc. REMIC, 5.62%, 12/26/46 (i)		796	489
	Chase Issuance Trust, 1.76%, 09/15/15 (i)		12,800	13,319
	Citigroup Mortgage Loan Trust Inc. REMIC, 4.70%, 12/25/35 (i)		222	203
	Citigroup Mortgage Loan Trust Inc. REMIC, 0.31%, 05/25/37 (i)		1,793	1,352
	Commercial Mortgage Pass-Through Certificates REMIC, 5.31%, 12/10/46		2,100	2,054
	Countrywide Alternative Loan Trust REMIC, 0.43%, 05/25/47 (i)		932	488
	Countrywide Asset-Backed Certificates REMIC, 0.36%, 10/25/46 (i)		136	133
	Countrywide Home Loan Mortgage Pass-Through Trust REMIC, 3.51%, 11/25/34 (i)		1,148	973
	Countrywide Home Loan Mortgage Pass-Through Trust REMIC, 3.39%, 02/20/35 (i)		1,937	1,645
	Countrywide Home Loan Mortgage Pass-Through Trust REMIC, 5.25%, 02/20/36 (i)		271	203
	Credit Suisse Mortgage Capital Certificates REMIC, 5.66%, 03/15/39 (i)		200	196
	Credit Suisse Mortgage Capital Certificates REMIC, 5.70%, 09/15/40 (i)		7,800	6,990
	CS First Boston Mortgage Securities Corp. REMIC, 0.84%, 03/25/32 (i) (t)		28	23
	Equity One ABS Inc., 0.81%, 11/25/32 (i)		193	156
	First Franklin Mortgage Loan Asset Backed Certificates REMIC, 0.29%, 01/25/38 (i)		147	145
	Ford Credit Auto Owner Trust, (2009-C-A2) 2.00%, 12/15/11		656	658
	GE Capital Commercial Mortgage Corp. REMIC, 4.23%, 12/10/37		1,167	1,182
	GreenPoint Mortgage Funding Trust REMIC, 0.33%, 01/25/47 (i)		571	524
	Greenwich Capital Commercial Funding Corp. REMIC, 5.44%, 03/10/39		1,000	972
	Greenwich Capital Commercial Funding Corp. REMIC, 4.80%, 08/10/42 (i)		100	99
	GS Mortgage Securities Corp. II, 0.34%, 03/06/20 (i) (t)		1,675	1,616
	GSR Mortgage Loan Trust REMIC, 2.95%, 09/25/35 (i)		2,587	2,387
	GSR Mortgage Loan Trust REMIC, 5.21%, 11/25/35 (i)		1,380	1,268
	Harborview Mortgage Loan Trust REMIC, 0.46%, 05/19/35 (i)		206	123
	Harborview Mortgage Loan Trust REMIC, 4.88%, 07/19/35 (i)		973	704
	HFC Home Equity Loan Asset Backed Certificates REMIC, 0.53%, 01/20/34 (i)		1,341	1,192
	HSI Asset Securitization Corp. Trust REMIC, 0.30%, 12/25/36 (i)		145	112
	IndyMac ARM Trust REMIC, 2.46%, 01/25/32 (i)		1	-
	IndyMac Index Mortgage Loan Trust REMIC, 2.98%, 01/25/36 (i)		1,033	643
	IndyMac Index Mortgage Loan Trust REMIC, 0.34%, 11/25/46 (i)		153	151
	JPMorgan Chase & Co. Adjustable Rate Mortgage Trust REMIC, 3.80%, 11/25/30 (i)		3	3
	JPMorgan Chase & Co. Adjustable Rate Mortgage Trust REMIC, 3.40%, 02/25/33 (i)		15	13
	JPMorgan Chase & Co. Adjustable Rate Mortgage Trust REMIC, 5.65%, 02/25/33 (i)		24	24
	JPMorgan Chase & Co. Adjustable Rate Mortgage Trust REMIC, 2.92%, 04/25/33 (i)		97	87
	JPMorgan Chase & Co. Adjustable Rate Mortgage Trust REMIC, 3.71%, 01/25/34 (i)		310	277
	JPMorgan Chase & Co. Alt-A Trust REMIC, 3.48%, 05/25/35 (i)		743	529
	JPMorgan Chase Commercial Mortgage Securities Corp. REMIC, 5.47%, 01/12/45 (i)		700	713
	JPMorgan Chase Commercial Mortgage Securities Corp. REMIC, 5.33%, 05/15/47		1,900	1,853
	JPMorgan Chase Commercial Mortgage Securities Corp. REMIC, 5.44%, 06/12/47 (e)		11,300	11,045
	JPMorgan Chase Commercial Mortgage Securities Corp. REMIC, 5.42%, 01/15/49		6,400	6,165
	JPMorgan Chase Commercial Mortgage Securities Corp. REMIC, 5.79%, 02/12/51 (i)		14,500	14,466
	JPMorgan Chase Commercial Mortgage Securities Corp. REMIC, 5.88%, 02/15/51 (i)		700	684
	JPMorgan Mortgage Acquisition Corp. REMIC, 0.30%, 06/25/37 (i)		7,130	6,399
	JPMorgan Mortgage Trust REMIC, 5.02%, 02/25/35 (i)		510	504
	JPMorgan Mortgage Trust REMIC, 5.75%, 01/25/36		564	485
	Long Beach Mortgage Loan Trust REMIC, 0.53%, 10/25/34 (i)		34	29
	MASTR Asset Backed Securities Trust REMIC, 0.30%, 01/25/37 (i)		570	187
	MASTR Asset Backed Securities Trust REMIC, 0.33%, 05/25/37 (i)		384	366
	Mellon Residential Funding Corp. REMIC, 2.61%, 10/20/29 (i)		218	206
	Mellon Residential Funding Corp. REMIC, 0.71%, 06/15/30 (i)		498	420
	Merrill Lynch Mortgage Investors Inc. REMIC, 2.84%, 05/25/33 (i)		764	718
	Merrill Lynch Mortgage Investors Inc. REMIC, 0.46%, 02/25/36 (i)		454	327
	Merrill Lynch/Countrywide Commercial Mortgage Trust REMIC, 6.15%, 07/12/17 (i)		10,700	10,594
	Merrill Lynch/Countrywide Commercial Mortgage Trust REMIC, 5.49%, 03/12/51 (i)		1,500	1,375
	Mid-State Trust REMIC, 8.33%, 04/01/30		10	11
	MLCC Mortgage Investors Inc. REMIC, 1.25%, 10/25/35 (i)		217	174
	MLCC Mortgage Investors Inc. REMIC, 0.50%, 11/25/35 (i)		364	304
	Morgan Stanley Asset-Backed Securities Capital I REMIC, 0.29%, 01/25/37 (i)		277	270
	Morgan Stanley Capital I REMIC, 0.32%, 10/15/20 (i) (t)		409	376
	Morgan Stanley Capital I REMIC, 5.81%, 12/12/49		100	98
	Morgan Stanley Re-REMIC Trust, 6.00%, 04/12/17 (i) (t)		800	807
	Park Place Securities Inc. REMIC, 0.56%, 10/25/34 (i)		743	718
	Prime Mortgage Trust REMIC, 0.65%, 02/25/19 (i)		14	13
	Prime Mortgage Trust REMIC, 0.65%, 02/25/34 (i)		90	82
	SBI Heloc Trust REMIC, 0.42%, 08/25/36 (i) (t)		106	102
	Securitized Asset Backed Receivables LLC Trust REMIC, 0.31%, 12/25/36 (i)		379	144
	Sequoia Mortgage Trust REMIC, 0.59%, 10/19/26 (i)		91	69
	SLM Student Loan Trust, 0.55%, 01/26/15 (i)		472	472
	SLM Student Loan Trust, 0.25%, 10/25/16 (i)		561	561
	SLM Student Loan Trust, 1.75%, 04/25/23 (i)		11,786	12,188
	SLM Student Loan Trust REMIC, 0.24%, 10/27/14 (i)		659	659
	Structured Asset Mortgage Investments Inc. REMIC, 0.90%, 09/19/32 (i)		77	65
	Structured Asset Mortgage Investments Inc. REMIC, 0.49%, 07/19/35 (i)		904	837
	Structured Asset Mortgage Investments Inc. REMIC, 0.38%, 03/25/37 (i)		1,796	953
	Structured Asset Securities Corp. REMIC, 2.92%, 02/25/32 (i)		3	2
	Structured Asset Securities Corp. REMIC, 0.54%, 01/25/33 (i)		10	9
	Structured Asset Securities Corp. REMIC, 0.30%, 10/25/36 (i)		230	228
	Thornburg Mortgage Securities Trust REMIC, 0.37%, 06/25/36 (i)		2,569	2,506
	Thornburg Mortgage Securities Trust REMIC, 0.36%, 12/25/36 (i)		724	706
	Vendee Mortgage Trust REMIC, 6.50%, 09/15/24		602	625
	Wachovia Bank Commercial Mortgage Trust REMIC, 0.33%, 06/15/20 (i) (t)		1,873	1,653
	Wachovia Bank Commercial Mortgage Trust REMIC, 0.35%, 09/15/21 (i) (t)		6,208	5,538
	Washington Mutual Mortgage Pass-Through Certificates REMIC, 2.86%, 02/25/31 (i)		14	12
	Washington Mutual Mortgage Pass-Through Certificates REMIC, 1.87%, 08/25/42 (i)		192	137
	Washington Mutual Mortgage Pass-Through Certificates REMIC, 1.66%, 11/25/42 (i)		111	82
	Washington Mutual Mortgage Pass-Through Certificates REMIC, 0.54%, 10/25/45 (i)		209	161
	Wells Fargo Mortgage Backed Securities Trust REMIC, 4.93%, 01/25/35 (i)		1,245	1,212
	Wells Fargo Mortgage Backed Securities Trust REMIC, 4.95%, 03/25/36 (i)		1,108	975
	Total Non-U.S. Government Agency Asset-Backed Securities (cost $161,389)			157,484
CORPORATE BONDS AND NOTES - 27.6%
CONSUMER DISCRETIONARY - 0.4%
	Comcast Corp., 5.88%, 02/15/18		400	427
	Comcast Corp., 6.45%, 03/15/37		400	407
	Princeton University, 5.70%, 03/01/39		4,500	4,676
	RH Donnelley Inc., 9.44%, 10/24/14 (i) (u)		260	255
	RH Donnelley Inc., 9.44%, 10/24/14 (i) (u)		54	53
	RH Donnelley Inc., 9.44%, 10/24/14 (i) (u)		260	255
	Target Corp., 5.13%, 01/15/13		3,000	3,257
				9,330
CONSUMER STAPLES - 0.4%
	Anheuser-Busch Cos. Inc., 5.50%, 01/15/18 (e)		100	105
	Campbell Soup Co., 4.50%, 02/15/19		6,800	6,919
	Kraft Foods Inc., 6.13%, 02/01/18		1,400	1,532
	Kraft Foods Inc., 6.88%, 02/01/38		600	649
	Philip Morris International Inc., 5.65%, 05/16/18 (e)		1,200	1,292
				10,497
ENERGY - 1.3%
	El Paso Corp., 8.05%, 10/15/30 (e)		600	599
	El Paso Corp., 7.80%, 08/01/31		800	786
	Gaz Capital SA, 6.21%, 11/22/16 (t)		300	309
	Kinder Morgan Energy Partners LP, 5.95%, 02/15/18 (e)		6,400	6,864
	Peabody Energy Corp., 7.88%, 11/01/26		500	514
	Petrobras International Finance Co., 7.88%, 03/15/19 (e)		11,700	13,684
	Petroleos Mexica, 8.00%, 05/03/19 (e)		6,500	7,621
	Ras Laffan Liquefied Natural Gas Co. Ltd. III, 5.84%, 09/30/27 (t)		500	485
	Shell International Finance BV, 5.50%, 03/25/40		1,300	1,274
				32,136
FINANCIALS - 22.0%
	Allstate Life Global Funding Trust, 5.38%, 04/30/13		1,900	2,070
	American Express Bank FSB, 5.50%, 04/16/13		2,700	2,892
	American Express Bank FSB, 6.00%, 09/13/17		300	322
	American Express Centurion Bank, 6.00%, 09/13/17 (e)		300	322
	American Express Co., 7.00%, 03/19/18		2,100	2,385
	American General Finance Corp., 4.88%, 05/15/10		10,800	10,798
	American General Finance Corp., 4.88%, 07/15/12		500	471
	American General Finance Corp., 6.90%, 12/15/17		1,900	1,664
	American International Group Inc., 4.00%, 09/20/11	EUR	2,500	3,355
	American International Group Inc., 5.05%, 10/01/15		200	186
	American International Group Inc., 5.85%, 01/16/18		18,100	16,818
	American International Group Inc., 8.25%, 08/15/18 (e)		10,100	10,598
	American International Group Inc., 6.25%, 05/01/36		6,800	5,930
	American International Group Inc., 6.25%, 03/15/37 (i)		800	592
	American International Group Inc., 8.18%, 05/15/58 (e) (i)		4,400	3,718
	ANZ National International Ltd., 6.20%, 07/19/13 (t)		2,200	2,424
	Bank of America Corp., 2.38%, 06/22/12 (e)		6,100	6,250
	Bank of America Corp., 4.50%, 04/01/15 (e)		3,400	3,428
	Bank of America Corp., 6.50%, 08/01/16 (e)		10,500	11,350
	Bank of America Corp., 6.00%, 09/01/17		1,700	1,768
	Bank of America NA, 0.54%, 06/15/16 (i)		700	626
	Bank of America NA, 6.00%, 10/15/36 (e)		600	555
	Bank of China Hong Kong Ltd., 5.55%, 02/11/20 (e) (t)		800	799
	Barclays Bank Plc, 5.45%, 09/12/12		10,700	11,534
	Barclays Bank Plc, 5.00%, 09/22/16		10,600	10,895
	Barclays Bank Plc, 6.05%, 12/04/17 (t)		1,600	1,650
	Barclays Bank Plc, 5.93% (callable at 100 on 12/15/16) (p) (t)		5,000	4,400
	Barclays Bank Plc, 7.43% (callable at 100 on 12/15/17) (p) (t)		15,000	14,775
	BNP Paribas, 5.19% (callable at 100 on 06/29/15) (p) (t)		4,100	3,608
	Cemex 10 Capital SPV Ltd., 6.72% (callable at 100 beginning 12/31/16) (p) (t)		1,000	710
	Chrysler Financial Co. LLC, Term Loan, 4.22%, 08/03/14 (i) (u)		1,450	1,454
	Citibank NA, 1.88%, 06/04/12 (e)		400	405
	Citigroup Capital XXI, 8.30%, 12/21/57 (e) (i)		9,800	9,922
	Citigroup Funding Inc., 1.88%, 10/22/12		3,000	3,024
	Citigroup Funding Inc., 2.25%, 12/10/12		1,800	1,829
	Citigroup Inc., 2.13%, 04/30/12		5,400	5,499
	Citigroup Inc., 1.88%, 05/07/12		2,600	2,634
	Citigroup Inc., 5.50%, 08/27/12		1,500	1,581
	Citigroup Inc., 5.63%, 08/27/12		1,000	1,048
	Citigroup Inc., 5.30%, 10/17/12		600	630
	Citigroup Inc., 5.50%, 04/11/13		13,900	14,606
	Citigroup Inc., 5.85%, 07/02/13		400	420
	Citigroup Inc., 5.50%, 10/15/14 (e)		10,900	11,280
	Citigroup Inc., 6.00%, 08/15/17 (e)		2,200	2,250
	Citigroup Inc., 8.50%, 05/22/19 (e)		1,000	1,167
	Citigroup Inc., 6.13%, 08/25/36		1,700	1,483
	Countrywide Financial Corp., 5.80%, 06/07/12		2,300	2,445
	Credit Agricole SA, 0.30%, 05/28/10 (i) (t)		1,600	1,600
	Credit Agricole SA, 8.38% (callable at 100 beginning 10/13/19) (p) (t)		15,500	16,779
	Deutsche Bank AG London, 6.00%, 09/01/17 (e)		3,000	3,289
	Dexia Credit Local, 0.93%, 09/23/11 (i) (t)		5,600	5,640
	ENEL Finance International SA, 6.25%, 09/15/17 (t)		4,700	5,106
	Export-Import Bank of China, 4.88%, 07/21/15 (t)		200	212
	Export-Import Bank of Korea, 5.88%, 01/14/15		9,700	10,456
	FCE Bank Plc, 7.13%, 01/16/12	EUR	4,000	5,524
	Fifth Third Bancorp, 8.25%, 03/01/38		10,200	10,718
	Ford Motor Credit Co. LLC, 7.88%, 06/15/10		1,000	1,009
	Ford Motor Credit Co. LLC, 7.38%, 02/01/11		2,400	2,460
	Ford Motor Credit Co. LLC, 7.00%, 10/01/13		500	517
	General Electric Capital Corp., 3.00%, 12/09/11		3,000	3,100
	General Electric Capital Corp., 2.20%, 06/08/12		6,700	6,824
	General Electric Capital Corp., 2.00%, 09/28/12		3,500	3,548
	General Electric Capital Corp., 2.13%, 12/21/12		1,500	1,520
	General Electric Capital Corp., 2.63%, 12/28/12		2,700	2,773
	General Electric Capital Corp., 0.49%, 01/08/16 (i)		200	183
	General Electric Capital Corp., 5.50%, 09/15/67	EUR	6,100	7,044
	General Electric Capital Corp., 6.38%, 11/15/67 (i)		3,200	3,004
	GMAC Inc., 6.00%, 12/15/11		200	200
	GMAC Inc., 8.30%, 02/12/15 (t)		1,400	1,470
	GMAC Inc., 8.00%, 11/01/31 (u)		10,000	9,550
	Goldman Sachs Group Inc., 6.88%, 01/15/11		6,500	6,805
	Goldman Sachs Group Inc., 5.63%, 01/15/17		2,200	2,254
	Goldman Sachs Group Inc., 6.25%, 09/01/17 (e)		4,400	4,732
	Goldman Sachs Group Inc., 5.95%, 01/18/18		1,200	1,259
	Goldman Sachs Group Inc., 6.15%, 04/01/18		600	635
	Goldman Sachs Group Inc., 6.75%, 10/01/37 (e)		6,300	6,292
	HSBC Holdings Plc, 6.50%, 05/02/36		500	515
	HSBC Holdings Plc, 6.50%, 09/15/37		700	726
	ING Bank NV, 1.09%, 03/30/12 (f) (i) (s) (u)		21,700	21,696
	International Lease Finance Corp., 4.95%, 02/01/11 (e)		725	726
	International Lease Finance Corp., 5.55%, 09/05/12		4,200	4,090
	JPMorgan Chase & Co., 0.37%, 05/18/10 (i)		5,600	5,600
	JPMorgan Chase & Co., 4.55%, 06/23/10		3,400	3,427
	JPMorgan Chase & Co., 0.46%, 08/15/11 (i)		100	100
	JPMorgan Chase & Co., 6.95%, 08/10/12		3,500	3,877
	JPMorgan Chase & Co., 6.00%, 01/15/18		1,200	1,303
	JPMorgan Chase & Co., 7.90% (callable at 100 beginning 04/30/18) (p)		4,200	4,478
	JPMorgan Chase Bank NA, 6.00%, 10/01/17		4,100	4,371
	JPMorgan Chase Capital XX, 6.55%, 09/29/36 (i)		300	282
	LBG Capital No.1 Plc, 8.50%, (callable at 100 on 12/17/21) (p)		200	173
	LeasePlan Corp. NV, 3.13%, 02/10/12	EUR	3,500	4,874
	Lehman Brothers Holdings Inc., 3.29%, 11/24/08 (d) (i)		4,800	1,104
	Lehman Brothers Holdings Inc., 3.26%, 12/23/08 (d) (i)		200	46
	Lehman Brothers Holdings Inc., 1.52%, 04/03/09 (d) (i)		600	138
	Lehman Brothers Holdings Inc., 0.71%, 11/10/09 (d) (i)		900	207
	Lehman Brothers Holdings Inc., 0.54%, 11/16/09 (d) (i)		400	92
	Lehman Brothers Holdings Inc., 0.39%, 05/25/10 (d) (i)		1,100	253
	Lehman Brothers Holdings Inc., 0.47%, 07/18/11 (d) (i)		1,100	253
	Lehman Brothers Holdings Inc., 5.63%, 01/24/13 (d)		1,600	376
	Lehman Brothers Holdings Inc., 6.20%, 09/26/14 (d)		1,700	395
	Lehman Brothers Holdings Inc., 6.88%, 05/02/18 (d)		1,000	236
	Merrill Lynch & Co. Inc., 0.45%, 07/25/11 (i)		1,900	1,889
	Merrill Lynch & Co. Inc., 6.05%, 08/15/12		600	641
	Merrill Lynch & Co. Inc., 6.40%, 08/28/17		1,900	2,002
	MetLife Global Funding Inc., 0.29%, 05/17/10 (i) (t)		3,000	3,001
	MetLife Inc., 6.40%, 12/15/36 (i)		500	448
	Metropolitan Life Global Funding I, 0.70%, 07/13/11 (i) (t)		14,500	14,482
	Morgan Stanley, 2.35%, 05/14/10 (i)		3,700	3,708
	Morgan Stanley, 6.60%, 04/01/12		2,500	2,712
	Morgan Stanley, 6.25%, 08/28/17		1,200	1,260
	Morgan Stanley, 5.95%, 12/28/17		1,800	1,849
	National Australia Bank Ltd., 5.35%, 06/12/13 (t)		1,900	2,048
	Nationwide Building Society, 4.65%, 02/25/15 (e) (t)		3,500	3,491
	Nationwide Life Global Funding I, 5.45%, 10/02/12 (t)		16,200	16,689
	Northern Rock Plc, 5.63%, 06/22/17 (s) (u)		16,000	15,648
	Pacific LifeCorp., 6.00%, 02/10/20 (t)		900	878
	Petroleum Export Ltd., 5.27%, 06/15/11 (t)		79	78
	Principal Life Income Funding Trusts, 5.30%, 04/24/13 (e)		1,700	1,825
	RBS Capital Trust I, 4.71% (callable at 100 beginning 07/01/13) (p)		800	476
	Resona Bank Ltd., 5.85% (callable at 100 on 04/15/16) (p) (t)		300	283
	Royal Bank of Scotland Group Plc, 6.99% (callable at 100 beginning 10/05/17) (e) (p) (t)		2,100	1,491
	Royal Bank of Scotland Plc, 0.65%, 04/08/11 (i) (t)		8,100	8,114
	Royal Bank of Scotland Plc, 3.00%, 12/09/11 (e) (t)		3,800	3,906
	Royal Bank of Scotland Plc, 2.63%, 05/11/12 (t)		1,200	1,225
	Royal Bank of Scotland Plc, 4.88%, 08/25/14 (t)		400	403
	Santander US Debt SA Unipersonal, 1.09%, 03/30/12 (i) (t)		13,100	13,092
	SLM Corp., 5.40%, 10/25/11		5,324	5,374
	SLM Corp., 5.13%, 08/27/12		500	497
	SLM Corp., 3.13%, 09/17/12	EUR	2,500	3,191
	SLM Corp., 8.45%, 06/15/18		3,400	3,439
	SLM Corp., 5.63%, 08/01/33		800	617
	Sovereign Bancorp Inc., 4.90%, 09/23/10		5,000	5,078
	State Street Capital Trust III, 8.25%, 03/15/42 (i)		1,700	1,760
	State Street Capital Trust IV, 1.26%, 06/15/37 (i)		200	150
	Svenska Handelsbanken AB, 1.26%, 09/14/12 (i) (t)		17,000	17,123
	Temasek Financial I Ltd., 4.30%, 10/25/19 (e) (t)		1,800	1,781
	TNK-BP Finance SA, 6.13%, 03/20/12 (t)		300	312
	TransCapitalInvest Ltd., 8.70%, 08/07/18 (e) (t)		800	960
	UBS AG Stamford, 1.35%, 02/23/12 (i)		2,600	2,611
	UBS AG Stamford, 5.88%, 12/20/17		1,200	1,243
	UBS Preferred Funding Trust V, 6.24% (callable at 100 on 05/15/16) (p)		10,000	9,000
	USB Capital IX, 6.19% (callable at 100 beginning 04/15/11) (p)		200	171
	Wachovia Corp., 0.43%, 10/15/11 (i)		3,200	3,186
	Wachovia Corp., 5.75%, 02/01/18		4,300	4,571
	Wells Fargo & Co., 7.98% (callable at 100 on 03/15/18) (p)		2,400	2,508
	Westpac Banking Corp., 0.78%, 07/16/14 (i) (t)		1,000	1,006
	ZFS Finance USA Trust I, 5.88%, 05/09/32 (i) (t)		175	164
				548,792
HEALTH CARE - 0.8%
	Amgen Inc., 6.15%, 06/01/18 (e)		7,300	8,215
	AstraZeneca Plc, 5.90%, 09/15/17		600	670
	AstraZeneca Plc, 6.45%, 09/15/37		600	668
	Novartis Capital Corp., 4.13%, 02/10/14		5,800	6,141
	Roche Holdings Inc., 7.00%, 03/01/39 (l) (t)		3,600	4,276
	UnitedHealth Group Inc., 4.88%, 02/15/13		1,600	1,711
				21,681
INDUSTRIALS - 0.1%
	Union Pacific Corp., 5.70%, 08/15/18		4,000	4,209
INFORMATION TECHNOLOGY - 1.1%
	Dell Inc., 4.70%, 04/15/13		3,600	3,867
	International Business Machines Corp., 5.70%, 09/14/17 (e)		13,200	14,628
	Oracle Corp., 4.95%, 04/15/13		4,200	4,563
	Oracle Corp., 5.75%, 04/15/18		4,100	4,497
				27,555
MATERIALS - 0.3%
	Corp. Nacional del Cobre de Chile, 7.50%, 01/15/19 (t)		1,900	2,238
	Corp. Nacional del Cobre de Chile, 6.15%, 10/24/36 (t)		200	206
	Nucor Corp., 5.75%, 12/01/17		2,400	2,593
	Rohm & Haas Co., 6.00%, 09/15/17 (e)		900	956
	Vale Overseas Ltd., 6.25%, 01/23/17		300	325
	Vale Overseas Ltd., 6.88%, 11/21/36 (e)		300	310
				6,628
TELECOMMUNICATION SERVICES - 1.0%
	AT&T Inc., 4.95%, 01/15/13		2,000	2,148
	AT&T Inc., 5.50%, 02/01/18 (e)		2,000	2,123
	AT&T Inc., 6.30%, 01/15/38 (e)		1,400	1,421
	Qwest Corp., 7.63%, 06/15/15		800	874
	Telecom Italia Capital SA, 0.91%, 07/18/11 (i)		1,900	1,892
	Verizon Wireless Capital LLC, 2.85%, 05/20/11 (e) (i)		4,900	5,043
	Verizon Wireless Capital LLC, 5.25%, 02/01/12		9,900	10,550
				24,051
UTILITIES - 0.2%
	Electricite de France SA, 5.50%, 01/26/14 (t)		1,600	1,757
	Electricite de France SA, 6.50%, 01/26/19 (t)		1,600	1,795
	Electricite de France SA, 6.95%, 01/26/39 (t)		1,600	1,837
	Virginia Electric & Power Co., 6.35%, 11/30/37		200	217
				5,606
	Total Corporate Bonds and Notes (cost $663,793)			690,485
GOVERNMENT AND AGENCY OBLIGATIONS - 33.5%
GOVERNMENT SECURITIES - 10.0%
Municipals - 2.2%
	Buckeye Tobacco Settlement Financing Authority (insured by AMBAC Assurance Corp.), 5.88%, 06/01/30		1,000	842
	California Infrastructure & Economic Development Bank, 6.49%, 05/15/49		1,000	989
	California State University, 6.43%, 11/01/30		1,400	1,396
	Chicago Transit Authority, 6.30%, 12/01/21		100	106
	Chicago Transit Authority, 6.30%, 12/01/21		200	211
	Chicago Transit Authority, 6.20%, 12/01/40		1,000	990
	Chicago Transit Authority, 6.90%, 12/01/40		2,100	2,240
	Chicago Transit Authority, 6.90%, 12/01/40		2,000	2,134
	County of Clark NV, 6.82%, 07/01/45		1,600	1,642
	Golden State Tobacco Securitization Corp., 5.75%, 06/01/47		6,900	4,859
	Illinois Municipal Electric Agency, 6.83%, 02/01/35		1,800	1,869
	Los Angeles Unified School District, 6.76%, 07/01/34		3,100	3,205
	Los Angeles Unified School District Municipal Bond - Series A-1 (insured by FSA), 4.50%, 07/01/22		3,600	3,694
	Los Angeles Unified School District Municipal Bond (insured by National Public Finance Guarantee Corp), 4.50%, 01/01/28		6,300	5,944
	New Jersey State Turnpike Authority, 7.41%, 01/01/40		7,800	9,083
	North Carolina Turnkpike Authority Series B, 6.70%, 01/01/39		2,000	2,084
	San Diego Tobacco Settlement Revenue Funding Corp., 7.13%, 06/01/32		840	676
	State of California, 7.95%, 03/01/36		600	615
	State of California Various Purpose Bond, 7.50%, 04/01/34		600	619
	State of California Various Purpose Bond, 5.65%, 04/01/39 (i)		600	624
	State of California Various Purpose Bond, 7.55%, 04/01/39		600	620
	State of Illinois, 4.07%, 01/01/14		2,400	2,419
	State of Iowa, 6.75%, 06/01/34		4,100	4,234
	State of Texas, 4.75%, 04/01/35		500	506
	Tobacco Settlement Authority of Iowa, 6.50%, 06/01/23		240	204
	Tobacco Settlement Authority of West Virgina, 7.47%, 06/01/47		1,725	1,367
	Washington State Municipal Bond (insured by National Public Finance Guarantee Corp), 0.00%, 12/01/20 (j)		1,400	901
				54,073
Sovereign - 2.5%
	Brazil Notas do Tesouro Nacional Series F, 10.00%, 01/01/17	BRL	2,600	1,350
	Bundesrepublik Deutschland, 3.25%, 01/04/20	EUR	25,900	35,427
	Canadian Government Bond, 2.00%, 12/01/14	CAD	5,500	5,225
	Canadian Government Bond, 4.50%, 06/01/15	CAD	700	742
	Fortis Bank Nederland Holding, 3.00%, 04/17/12	EUR	500	697
	France Government Bond, 3.50%, 04/25/20	EUR	3,400	4,617
	Republic of Korea, 7.73%, 08/10/15 (e)		7,200	7,308
	Societe Financement de l'Economie Francaise, 2.13%, 05/20/12	EUR	300	414
	Societe Financement de l'Economie Francaise, 0.50%, 07/16/12 (i) (t)		2,000	2,007
	Societe Financement de l'Economie Francaise, 3.38%, 05/05/14 (l) (t)		4,200	4,358
	South Africa Government International Bond, 5.88%, 05/30/22		100	102
	United Mexican States, 6.05%, 01/11/40		1,500	1,496
				63,743
Treasury Securities - 5.3%
	French Treasury Note, 2.50%, 01/15/15	EUR	3,900	5,321
	U.S. Treasury Bond, 5.38%, 02/15/31		2,400	2,655
	U.S. Treasury Bond, 4.38%, 02/15/38		2,400	2,282
	U.S. Treasury Bond, 3.50%, 02/15/39		5,300	4,289
	U.S. Treasury Bond, 4.25%, 05/15/39 (o)		11,400	10,563
	U.S. Treasury Bond, 4.50%, 08/15/39		1,400	1,352
	U.S. Treasury Bond, 4.38%, 11/15/39 (o)		14,300	13,522
	U.S. Treasury Note, 0.88%, 01/31/12		36,000	35,958
	U.S. Treasury Note, 0.88%, 02/29/12		8,500	8,482
	U.S. Treasury Note, 1.38%, 03/15/13 (e)		8,200	8,152
	U.S. Treasury Note, 3.25%, 03/31/17		12,500	12,484
	U.S. Treasury Note, 3.63%, 02/15/20 (e) (o)		28,300	27,818
				132,878
U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES - 23.5%
Federal Home Loan Bank - 0.0%
	Federal Home Loan Bank, 1.00%, 12/28/11		800	800
Federal Home Loan Mortgage Corp. - 4.5%
	Federal Home Loan Mortgage Corp., 1.13%, 06/01/11		7,100	7,137
	Federal Home Loan Mortgage Corp., 0.20%, 09/19/11 (i) (o)		18,500	18,490
	Federal Home Loan Mortgage Corp., 1.13%, 12/15/11		1,000	1,002
	Federal Home Loan Mortgage Corp., 6.00%, 03/01/16		15	16
	Federal Home Loan Mortgage Corp., 6.00%, 03/01/16		12	13
	Federal Home Loan Mortgage Corp., 6.00%, 03/01/16		5	5
	Federal Home Loan Mortgage Corp., 6.00%, 08/01/16		16	17
	Federal Home Loan Mortgage Corp., 6.00%, 08/01/26		2,147	2,313
	Federal Home Loan Mortgage Corp., 3.28%, 07/01/27 (i)		1	1
	Federal Home Loan Mortgage Corp., 6.00%, 09/01/27		5,135	5,514
	Federal Home Loan Mortgage Corp., 7.50%, 03/01/32 (f)		182	182
	Federal Home Loan Mortgage Corp., 5.50%, 04/01/35, TBA (g)		4,000	4,224
	Federal Home Loan Mortgage Corp., 6.00%, 05/01/35, TBA (g)		39,000	41,712
	Federal Home Loan Mortgage Corp., 5.50%, 05/01/35, TBA (g)		16,000	16,840
	Federal Home Loan Mortgage Corp., 5.50%, 12/01/36		521	551
	Federal Home Loan Mortgage Corp., 6.00%, 04/01/38		132	144
	Federal Home Loan Mortgage Corp., 6.00%, 04/01/38		261	284
	Federal Home Loan Mortgage Corp., 6.00%, 04/01/38		40	44
	Federal Home Loan Mortgage Corp., 6.00%, 04/01/38		45	49
	Federal Home Loan Mortgage Corp., 6.00%, 04/01/38		514	553
	Federal Home Loan Mortgage Corp. REMIC, 0.40%, 07/15/19 (i)		1,302	1,294
	Federal Home Loan Mortgage Corp. REMIC, 0.38%, 08/15/19		2,996	2,977
	Federal Home Loan Mortgage Corp. REMIC, 7.00%, 05/15/23		302	345
	Federal Home Loan Mortgage Corp. REMIC, 0.70%, 11/15/30 (i)		5	5
	Federal Home Loan Mortgage Corp. REMIC, 4.50%, 03/15/34		8,118	7,406
	Federal Home Loan Mortgage Corp. REMIC, 0.29%, 12/25/36 (i)		1,896	1,834
	Federal Home Loan Mortgage Corp. REMIC, 1.67%, 02/25/45 (i)		99	95
				113,047
Federal National Mortgage Association - 17.9%
	Federal National Mortgage Association, 1.75%, 05/07/13		14,500	14,463
	Federal National Mortgage Association, 6.00%, 04/01/16		46	49
	Federal National Mortgage Association, 6.00%, 04/01/16		34	37
	Federal National Mortgage Association, 6.00%, 04/01/16		18	20
	Federal National Mortgage Association, 6.00%, 05/01/16		43	46
	Federal National Mortgage Association, 6.00%, 08/01/16		26	29
	Federal National Mortgage Association, 6.00%, 09/01/16		10	11
	Federal National Mortgage Association, 6.00%, 11/01/16		35	38
	Federal National Mortgage Association, 6.00%, 11/01/16		16	17
	Federal National Mortgage Association, 5.50%, 12/01/16		65	70
	Federal National Mortgage Association, 5.50%, 12/01/16		10	10
	Federal National Mortgage Association, 5.50%, 12/01/16		37	39
	Federal National Mortgage Association, 5.50%, 01/01/17		6	7
	Federal National Mortgage Association, 5.50%, 01/01/17		14	15
	Federal National Mortgage Association, 5.50%, 01/01/17		27	29
	Federal National Mortgage Association, 6.00%, 02/01/17		11	12
	Federal National Mortgage Association, 6.00%, 02/01/17		2	2
	Federal National Mortgage Association, 5.50%, 03/01/17		43	46
	Federal National Mortgage Association, 6.00%, 03/01/17		15	16
	Federal National Mortgage Association, 6.00%, 03/01/17		28	30
	Federal National Mortgage Association, 6.00%, 03/01/17		8	9
	Federal National Mortgage Association, 6.00%, 04/01/17		9	10
	Federal National Mortgage Association, 6.00%, 04/01/17		36	39
	Federal National Mortgage Association, 6.00%, 04/01/17		3	3
	Federal National Mortgage Association, 6.00%, 05/01/17		5	6
	Federal National Mortgage Association, 6.00%, 05/01/17		9	9
	Federal National Mortgage Association, 5.50%, 10/01/17		41	45
	Federal National Mortgage Association, 6.00%, 10/01/17		42	45
	Federal National Mortgage Association, 5.50%, 11/01/17		2	2
	Federal National Mortgage Association, 5.50%, 11/01/17		25	27
	Federal National Mortgage Association, 5.50%, 05/01/21		76	81
	Federal National Mortgage Association, 5.50%, 06/01/21		20	22
	Federal National Mortgage Association, 5.50%, 10/01/21		1,006	1,080
	Federal National Mortgage Association, 5.50%, 03/01/22		132	142
	Federal National Mortgage Association, 5.50%, 04/01/22		550	589
	Federal National Mortgage Association, 5.50%, 04/01/22		103	110
	Federal National Mortgage Association, 5.50%, 05/01/22		124	133
	Federal National Mortgage Association, 5.50%, 05/01/22		26	28
	Federal National Mortgage Association, 5.50%, 05/01/22		91	98
	Federal National Mortgage Association, 5.50%, 06/01/22		184	197
	Federal National Mortgage Association, 5.50%, 06/01/22		38	40
	Federal National Mortgage Association, 5.50%, 09/01/22		141	151
	Federal National Mortgage Association, 5.50%, 10/01/22		21	22
	Federal National Mortgage Association, 5.50%, 12/01/22		109	116
	Federal National Mortgage Association, 5.50%, 12/01/22		128	137
	Federal National Mortgage Association, 5.50%, 01/01/23		365	391
	Federal National Mortgage Association, 5.50%, 01/01/23		179	192
	Federal National Mortgage Association, 5.50%, 02/01/23		220	236
	Federal National Mortgage Association, 5.50%, 03/01/23		98	105
	Federal National Mortgage Association, 5.50%, 04/01/23		232	248
	Federal National Mortgage Association, 5.50%, 05/01/23		375	402
	Federal National Mortgage Association, 5.50%, 06/01/23		142	152
	Federal National Mortgage Association, 5.50%, 06/01/23		61	66
	Federal National Mortgage Association, 5.50%, 07/01/23		367	394
	Federal National Mortgage Association, 5.50%, 07/01/23		246	263
	Federal National Mortgage Association, 5.50%, 07/01/23		136	146
	Federal National Mortgage Association, 5.50%, 07/01/23		382	409
	Federal National Mortgage Association, 5.50%, 08/01/23		130	139
	Federal National Mortgage Association, 5.50%, 09/01/23		391	419
	Federal National Mortgage Association, 5.50%, 09/01/23		192	206
	Federal National Mortgage Association, 5.50%, 09/01/23		70	75
	Federal National Mortgage Association, 5.50%, 12/01/23		1,197	1,281
	Federal National Mortgage Association, 6.00%, 12/01/26		4,809	5,140
	Federal National Mortgage Association, 6.00%, 02/01/27		2,667	2,851
	Federal National Mortgage Association, 6.00%, 06/01/27		3,464	3,697
	Federal National Mortgage Association, 6.00%, 08/01/27		4,779	5,100
	Federal National Mortgage Association, 6.00%, 09/01/27		5,266	5,620
	Federal National Mortgage Association, 6.00%, 10/01/27		5,006	5,342
	Federal National Mortgage Association, 6.00%, 11/01/27		10,359	11,056
	Federal National Mortgage Association, 6.50%, 07/01/29		1	1
	Federal National Mortgage Association, 6.50%, 12/01/29		1	1
	Federal National Mortgage Association, 5.50%, 11/01/32		49	52
	Federal National Mortgage Association, 5.50%, 11/01/32		373	396
	Federal National Mortgage Association, 5.50%, 11/01/32		419	445
	Federal National Mortgage Association, 5.50%, 11/01/32		340	361
	Federal National Mortgage Association, 6.00%, 01/01/33		1,261	1,351
	Federal National Mortgage Association, 6.00%, 03/01/33		30	33
	Federal National Mortgage Association, 5.50%, 05/01/33, TBA (g)		468	496
	Federal National Mortgage Association, 5.50%, 10/01/33		13	14
	Federal National Mortgage Association, 5.50%, 11/01/33		15	16
	Federal National Mortgage Association, 5.50%, 11/01/33		325	344
	Federal National Mortgage Association, 5.50%, 11/01/33		11	12
	Federal National Mortgage Association, 5.50%, 11/01/33		161	171
	Federal National Mortgage Association, 5.50%, 12/01/33		134	143
	Federal National Mortgage Association, 5.50%, 12/01/33		252	268
	Federal National Mortgage Association, 5.50%, 01/01/34		56	59
	Federal National Mortgage Association, 5.50%, 02/01/34		197	209
	Federal National Mortgage Association, 5.50%, 02/01/34		495	525
	Federal National Mortgage Association, 5.50%, 02/01/34		272	288
	Federal National Mortgage Association, 5.50%, 03/01/34		325	344
	Federal National Mortgage Association, 5.50%, 03/01/34		212	224
	Federal National Mortgage Association, 5.50%, 03/01/34		1,271	1,346
	Federal National Mortgage Association, 5.50%, 04/01/34		12	12
	Federal National Mortgage Association, 5.50%, 04/01/34		3,461	3,663
	Federal National Mortgage Association, 5.50%, 04/01/34		200	212
	Federal National Mortgage Association, 6.00%, 04/15/34, TBA (g)		1,000	1,062
	Federal National Mortgage Association, 5.50%, 05/01/34		794	843
	Federal National Mortgage Association, 5.50%, 06/01/34		1,349	1,429
	Federal National Mortgage Association, 5.50%, 11/01/34		778	824
	Federal National Mortgage Association, 6.00%, 12/01/34		7	7
	Federal National Mortgage Association, 2.69%, 01/01/35 (i)		2,064	2,084
	Federal National Mortgage Association, 6.00%, 07/01/35		247	265
	Federal National Mortgage Association, 6.00%, 09/01/35		45	48
	Federal National Mortgage Association, 6.00%, 03/01/36		1,377	1,469
	Federal National Mortgage Association, 5.50%, 05/01/36, TBA (g)		5,000	5,251
	Federal National Mortgage Association, 6.00%, 05/01/36		1,120	1,195
	Federal National Mortgage Association, 6.00%, 05/11/36, TBA (g)		150,000	160,031
	Federal National Mortgage Association, 6.50%, 05/11/36, TBA (g)		5,000	5,403
	Federal National Mortgage Association, 6.00%, 06/01/36		1,007	1,075
	Federal National Mortgage Association, 6.00%, 07/01/36		50	53
	Federal National Mortgage Association, 6.00%, 08/01/36		391	417
	Federal National Mortgage Association, 6.00%, 08/01/36		96	103
	Federal National Mortgage Association, 6.00%, 08/01/36		1,105	1,179
	Federal National Mortgage Association, 6.00%, 08/01/36		397	424
	Federal National Mortgage Association, 6.00%, 08/01/36		470	501
	Federal National Mortgage Association, 6.00%, 08/01/36		72	77
	Federal National Mortgage Association, 5.50%, 09/01/36		3,272	3,472
	Federal National Mortgage Association, 6.00%, 09/01/36		874	933
	Federal National Mortgage Association, 6.00%, 09/01/36		1,282	1,369
	Federal National Mortgage Association, 6.00%, 09/01/36		3,396	3,624
	Federal National Mortgage Association, 6.00%, 09/01/36		433	462
	Federal National Mortgage Association, 6.00%, 09/01/36		284	303
	Federal National Mortgage Association, 6.50%, 09/01/36		29	32
	Federal National Mortgage Association, 5.50%, 10/01/36		642	678
	Federal National Mortgage Association, 6.00%, 10/01/36		10,879	11,612
	Federal National Mortgage Association, 6.00%, 10/01/36		628	670
	Federal National Mortgage Association, 5.50%, 12/01/36		45	47
	Federal National Mortgage Association, 5.50%, 12/01/36		2,257	2,382
	Federal National Mortgage Association, 6.00%, 12/01/36		589	629
	Federal National Mortgage Association, 5.50%, 01/01/37		538	568
	Federal National Mortgage Association, 5.50%, 01/01/37		1,976	2,086
	Federal National Mortgage Association, 6.00%, 01/01/37		92	98
	Federal National Mortgage Association, 5.50%, 02/01/37		3,840	4,051
	Federal National Mortgage Association, 5.50%, 02/01/37		10,664	11,258
	Federal National Mortgage Association, 5.50%, 02/01/37		138	145
	Federal National Mortgage Association, 6.00%, 02/01/37		39	41
	Federal National Mortgage Association, 6.00%, 02/01/37		763	814
	Federal National Mortgage Association, 6.50%, 02/01/37		176	191
	Federal National Mortgage Association, 6.50%, 02/01/37		146	159
	Federal National Mortgage Association, 6.00%, 03/01/37		267	285
	Federal National Mortgage Association, 6.00%, 04/01/37		200	213
	Federal National Mortgage Association, 6.00%, 04/01/37		19	21
	Federal National Mortgage Association, 6.00%, 04/01/37		356	379
	Federal National Mortgage Association, 6.00%, 05/01/37		97	103
	Federal National Mortgage Association, 6.00%, 06/01/37		3,616	3,847
	Federal National Mortgage Association, 6.00%, 06/01/37		2,302	2,449
	Federal National Mortgage Association, 6.00%, 06/01/37		691	735
	Federal National Mortgage Association, 6.00%, 07/01/37		3,261	3,469
	Federal National Mortgage Association, 6.00%, 07/01/37		218	232
	Federal National Mortgage Association, 6.00%, 07/01/37		32	35
	Federal National Mortgage Association, 6.00%, 08/01/37		511	544
	Federal National Mortgage Association, 6.00%, 08/01/37		585	622
	Federal National Mortgage Association, 6.00%, 08/01/37		147	156
	Federal National Mortgage Association, 6.00%, 08/01/37		218	232
	Federal National Mortgage Association, 6.00%, 08/01/37		711	756
	Federal National Mortgage Association, 6.00%, 08/01/37		12,013	12,781
	Federal National Mortgage Association, 6.00%, 08/01/37		766	815
	Federal National Mortgage Association, 6.00%, 08/01/37		179	191
	Federal National Mortgage Association, 6.00%, 08/01/37		187	199
	Federal National Mortgage Association, 6.00%, 08/01/37		91	97
	Federal National Mortgage Association, 6.00%, 08/01/37		295	314
	Federal National Mortgage Association, 6.00%, 09/01/37		1,409	1,499
	Federal National Mortgage Association, 6.00%, 09/01/37		553	588
	Federal National Mortgage Association, 6.00%, 09/01/37		111	118
	Federal National Mortgage Association, 6.00%, 09/01/37		489	520
	Federal National Mortgage Association, 6.00%, 09/01/37		317	337
	Federal National Mortgage Association, 6.00%, 09/01/37		620	659
	Federal National Mortgage Association, 6.00%, 09/01/37		579	616
	Federal National Mortgage Association, 6.00%, 09/01/37		85	91
	Federal National Mortgage Association, 6.00%, 10/01/37		823	876
	Federal National Mortgage Association, 6.00%, 10/01/37		127	135
	Federal National Mortgage Association, 6.00%, 10/01/37		473	504
	Federal National Mortgage Association, 6.00%, 10/01/37		4,300	4,575
	Federal National Mortgage Association, 6.00%, 10/01/37		507	539
	Federal National Mortgage Association, 6.00%, 10/01/37		203	216
	Federal National Mortgage Association, 6.00%, 10/01/37		703	748
	Federal National Mortgage Association, 6.00%, 10/01/37		387	411
	Federal National Mortgage Association, 6.00%, 10/01/37		83	88
	Federal National Mortgage Association, 6.00%, 10/01/37		46	49
	Federal National Mortgage Association, 6.00%, 10/01/37		686	729
	Federal National Mortgage Association, 6.50%, 10/01/37		40	43
	Federal National Mortgage Association, 6.00%, 11/01/37		45	47
	Federal National Mortgage Association, 6.00%, 11/01/37		5,131	5,459
	Federal National Mortgage Association, 6.00%, 11/01/37		399	424
	Federal National Mortgage Association, 6.00%, 11/01/37		225	239
	Federal National Mortgage Association, 6.00%, 11/01/37		932	991
	Federal National Mortgage Association, 6.00%, 11/01/37		562	598
	Federal National Mortgage Association, 6.00%, 12/01/37		145	154
	Federal National Mortgage Association, 6.00%, 12/01/37		383	408
	Federal National Mortgage Association, 6.00%, 12/01/37		429	457
	Federal National Mortgage Association, 6.00%, 01/01/38		69	73
	Federal National Mortgage Association, 6.00%, 01/01/38		550	586
	Federal National Mortgage Association, 6.00%, 01/01/38		118	125
	Federal National Mortgage Association, 6.00%, 01/01/38		500	532
	Federal National Mortgage Association, 6.00%, 01/01/38		5,831	6,204
	Federal National Mortgage Association, 6.00%, 01/01/38		698	742
	Federal National Mortgage Association, 6.00%, 01/01/38		1,817	1,933
	Federal National Mortgage Association, 6.00%, 02/01/38		325	346
	Federal National Mortgage Association, 6.00%, 03/01/38		4,259	4,531
	Federal National Mortgage Association, 6.00%, 03/01/38		1,956	2,081
	Federal National Mortgage Association, 6.50%, 03/01/38		58	63
	Federal National Mortgage Association, 6.00%, 04/01/38		796	847
	Federal National Mortgage Association, 6.00%, 05/01/38		995	1,058
	Federal National Mortgage Association, 6.00%, 05/01/38		2,000	2,128
	Federal National Mortgage Association, 6.00%, 05/01/38		20,906	22,243
	Federal National Mortgage Association, 6.00%, 05/01/38		102	108
	Federal National Mortgage Association, 6.00%, 05/01/38		762	811
	Federal National Mortgage Association, 6.00%, 06/01/38		2,729	2,902
	Federal National Mortgage Association, 6.00%, 06/01/38		1,000	1,064
	Federal National Mortgage Association, 6.00%, 07/01/38		882	938
	Federal National Mortgage Association, 5.50%, 08/01/38, TBA (g)		1,094	1,156
	Federal National Mortgage Association, 6.00%, 08/01/38		858	912
	Federal National Mortgage Association, 6.00%, 08/01/38		29	31
	Federal National Mortgage Association, 6.00%, 08/01/38		1,168	1,243
	Federal National Mortgage Association, 6.00%, 09/01/38		2,246	2,388
	Federal National Mortgage Association, 6.00%, 09/01/38		325	345
	Federal National Mortgage Association, 6.00%, 09/01/38		821	873
	Federal National Mortgage Association, 6.00%, 09/01/38		25	26
	Federal National Mortgage Association, 6.00%, 09/01/38		92	97
	Federal National Mortgage Association, 6.00%, 10/01/38		426	453
	Federal National Mortgage Association, 6.00%, 10/01/38		439	467
	Federal National Mortgage Association, 6.00%, 10/01/38		466	496
	Federal National Mortgage Association, 6.00%, 10/01/38		2,316	2,465
	Federal National Mortgage Association, 5.50%, 10/14/38 (o)		25,717	27,188
	Federal National Mortgage Association, 6.00%, 11/01/38		613	652
	Federal National Mortgage Association, 6.00%, 11/01/38		408	434
	Federal National Mortgage Association, 6.00%, 11/01/38		623	663
	Federal National Mortgage Association, 6.00%, 12/01/38		687	731
	Federal National Mortgage Association, 6.00%, 01/01/39		426	455
	Federal National Mortgage Association, 6.00%, 03/01/39		78	83
	Federal National Mortgage Association, 6.00%, 06/01/39		45	48
	Federal National Mortgage Association, 6.00%, 08/01/39		94	100
	Federal National Mortgage Association, 1.86%, 09/01/40 (i)		10	10
	Federal National Mortgage Association, 1.66%, 06/01/43 (i)		620	622
	Federal National Mortgage Association REMIC, 5.00%, 02/25/17		143	147
	Federal National Mortgage Association REMIC, 5.00%, 04/25/33		545	582
	Federal National Mortgage Association REMIC, 2.98%, 05/25/35 (i)		170	169
	Federal National Mortgage Association REMIC, 0.31%, 07/25/37 (i)		2,001	1,917
	Federal National Mortgage Association REMIC, 6.50%, 12/25/42		77	85
	Federal National Mortgage Association REMIC, 0.60%, 03/25/44 (i)		601	568
				447,721
Government National Mortgage Association - 0.1%
	Government National Mortgage Association, 4.38%, 05/20/26 (i)		70	72
	Government National Mortgage Association, 4.38%, 02/20/27 (i)		6	6
	Government National Mortgage Association, 4.38%, 04/20/30 (i)		9	9
	Government National Mortgage Association, 4.38%, 05/20/30 (i)		7	7
	Government National Mortgage Association, 3.75%, 02/20/32 (i)		76	78
	Government National Mortgage Association, 4.00%, 02/20/32 (i)		48	50
	Government National Mortgage Association, 6.00%, 04/18/35, TBA (g)		1,000	1,068
				1,290
Small Business Administration Participation Certificates - 1.0%
	Small Business Administration Participation Certificates, 7.45%, 08/01/10		3	3
	Small Business Administration Participation Certificates, 6.29%, 01/01/21		28	30
	Small Business Administration Participation Certificates, 5.13%, 09/01/23		52	55
	Small Business Administration Participation Certificates, 5.52%, 06/01/24		1,158	1,231
	Small Business Administration Participation Certificates, 5.29%, 12/01/27		996	1,069
	Small Business Administration Participation Certificates, 5.16%, 02/01/28		10,414	10,991
	Small Business Administration Participation Certificates, 5.49%, 03/01/28		9,980	10,660
				24,039
	Total Government and Agency Obligations (cost $829,670)			837,591
SHORT TERM INVESTMENTS - 46.9%
Certificates of Deposit - 0.6%
	Intesa Sanpaolo SpA, 2.38%, 12/21/12		15,200	15,306
Federal Home Loan Bank - 11.1%
	Federal Home Loan Bank, 0.00%, 04/01/10		6,000	6,000
	Federal Home Loan Bank, 0.13%, 04/05/10		34,100	34,100
	Federal Home Loan Bank, 0.12%, 04/09/10		23,560	23,559
	Federal Home Loan Bank, 0.14%, 04/14/10		99,200	99,196
	Federal Home Loan Bank, 0.14%, 04/16/10		14,700	14,699
	Federal Home Loan Bank, 0.14%, 04/23/10		50,000	49,997
	Federal Home Loan Bank, 0.14%, 05/12/10		2,000	2,000
	Federal Home Loan Bank, 0.18%, 06/02/10		2,300	2,299
	Federal Home Loan Bank, 0.19%, 06/09/10		9,000	8,998
	Federal Home Loan Bank, 0.19%, 06/11/10		32,000	31,994
	Federal Home Loan Bank, 0.18%, 06/18/10		5,200	5,199
				278,041
Federal Home Loan Mortgage Corp. - 15.6%
	Federal Home Loan Mortgage Corp., 0.17%, 04/07/10		200	200
	Federal Home Loan Mortgage Corp., 0.18%, 04/12/10		24,000	23,999
	Federal Home Loan Mortgage Corp., 0.13%, 04/19/10 (e)		32,600	32,598
	Federal Home Loan Mortgage Corp., 0.15%, 06/01/10		13,000	12,998
	Federal Home Loan Mortgage Corp., 0.16%, 06/03/10		90,300	90,284
	Federal Home Loan Mortgage Corp., 0.18%, 06/07/10		25,700	25,695
	Federal Home Loan Mortgage Corp., 0.18%, 06/09/10		45,000	44,991
	Federal Home Loan Mortgage Corp., 0.22%, 06/14/10		1,772	1,772
	Federal Home Loan Mortgage Corp., 0.18%, 06/21/10		100,344	100,321
	Federal Home Loan Mortgage Corp., 0.18%, 07/02/10		9,000	8,996
	Federal Home Loan Mortgage Corp., 0.21%, 07/23/10		15,400	15,392
	Federal Home Loan Mortgage Corp., 0.23%, 08/03/10		33,000	32,976
				390,222
Federal National Mortgage Association - 11.2%
	Federal National Mortgage Association, 0.12%, 04/07/10		27,000	26,999
	Federal National Mortgage Association, 0.19%, 04/21/10		1,200	1,200
	Federal National Mortgage Association, 0.14%, 05/19/10		70,936	70,923
	Federal National Mortgage Association, 0.18%, 06/02/10		57,300	57,290
	Federal National Mortgage Association, 0.18%, 06/09/10		52,100	52,090
	Federal National Mortgage Association, 0.16%, 06/14/10		5,900	5,899
	Federal National Mortgage Association, 0.18%, 06/23/10		64,700	64,685
				279,086
Mutual Funds - 0.3%
	JNL Money Market Fund, 0.03% (a) (h)		7,451	7,451
Securities Lending Collateral - 5.6%
	Securities Lending Cash Collateral Fund LLC, 0.24% (a) (h)		140,374	140,374
U.S. Treasury Securities - 2.5%
	U.S. Treasury Bill, 0.14%, 06/03/10		45,344	45,332
	U.S. Treasury Bill, 0.13%, 06/10/10 (e)		13,800	13,796
	U.S. Treasury Bill, 0.21%, 08/26/10 (o)		1,713	1,712
	U.S. Treasury Bill, 0.19%, 09/02/10 (o)		380	380
				61,220
	Total Short Term Investments (cost $1,171,505)			1,171,700
Total Investments - 114.5% (cost $2,832,062)				2,862,666
Total Forward Sales Commitments - (0.2%) (proceeds $4,271)				(4,278)
Other Assets and Liabilities, Net -  (14.3%) (o)				(358,292)
Total Net Assets - 100%				$   2,500,096
Forward Sales Commitments - 0.2%
U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES - 0.2%
Federal National Mortgage Association - 0.2%
	Federal National Mortgage Association, 5.50%, 04/01/20, TBA (g)		$             4,000	$          4,278
Total Forward Sales Commitments - 0.2% (proceeds $4,271)				$          4,278

JNL/PPM America High Yield Bond Fund
COMMON STOCKS - 1.2%
CONSUMER DISCRETIONARY - 0.4%
	DISH Network Corp.	100	$          2,082
	Home Interior Gift Inc. (f) (s) (u)	429	160
			2,242
CONSUMER STAPLES - 0.3%
	B&G Foods Inc.	200	2,095
ENERGY - 0.2%
	Chesapeake Energy Corp.	14	338
	Inergy LP	30	1,134
			1,472
MATERIALS - 0.0%
	Applied Extrusion Technologies Inc. - Class B (c) (f) (s) (u)	3	5
TELECOMMUNICATION SERVICES - 0.3%
	Manitoba Telecom Services Inc. (s) (u)	1	16
	Windstream Corp.	150	1,634
			1,650
	Total Common Stocks (cost $6,678)		7,464
PREFERRED STOCKS - 0.2%
FINANCIALS - 0.2%
	Federal Home Loan Mortgage Corp., 8.38%, Series Z (callable at 25 on 12/31/12) (d) (p)	50	64
	Federal National Mortgage Association, 8.25%, Series S (callable at 25 on 12/31/10) (d) (p)	19	23
	Federal National Mortgage Association, 8.25%, Series T (callable at 25 on 05/20/13) (d) (p)	40	48
	GMAC Inc., 7.00% (callable at 1,000 beginning 12/31/11) (p) (t)	1	773
	Wells Fargo Capital XII, 7.88% (callable at 25 beginning 03/15/13)	18	470
	Total Preferred Stocks (cost $3,562)		1,378
INVESTMENT FUNDS - 0.6%
	Pimco Floating Rate Strategy Fund	200	1,926
	Van Kampen Senior Income Trust (e)	400	2,040
	Total Investment Funds (cost $2,511)		3,966
RIGHTS - 0.0%
	PIMCO Income Strategy (c)	200	62
	Total Rights (cost $0)		62
NON-U.S. GOVERNMENT AGENCY ASSET-BACKED SECURITIES - 4.6%
	Ahold Lease USA Inc., 7.82%, 01/02/20 (k)	$             1,602	1,779
	American Airlines Pass Through Trust (insured by Assured Guaranty Corp.), 10.38%, 07/02/19 (e)	1,380	1,598
	Banc of America Commercial Mortgage Inc. REMIC, 5.68%, 07/10/46	1,305	1,152
	Banc of America Commercial Mortgage Inc. REMIC, 5.48%, 01/15/49 (i)	3,000	2,383
	Bear Stearns Commercial Mortgage Securities REMIC, 5.94%, 09/11/38 (i)	1,000	699
	Bear Stearns Commercial Mortgage Securities REMIC, 5.58%, 09/11/41 (i)	2,855	2,596
	Citigroup Commercial Mortgage Trust REMIC, 5.89%, 06/10/17 (i)	1,905	1,611
	Citigroup Commercial Mortgage Trust REMIC, 5.73%, 03/15/49 (i)	2,000	1,748
	Citigroup/Deutsche Bank Commercial Mortgage Trust REMIC, 5.69%, 10/15/48	1,000	625
	Credit Suisse Mortgage Capital Certificates REMIC, 5.55%, 02/15/39 (i)	550	356
	Credit Suisse Mortgage Capital Certificates REMIC, 5.55%, 02/15/39 (i)	1,085	944
	Credit Suisse Mortgage Capital Certificates REMIC, 5.72%, 06/15/39 (i)	1,000	673
	Credit Suisse Mortgage Capital Certificates REMIC, 5.34%, 12/15/39	112	87
	Credit Suisse Mortgage Capital Certificates REMIC, 6.13%, 09/15/40 (i)	2,000	782
	CW Capital Cobalt Ltd. REMIC, 5.82%, 07/15/17 (i)	1,000	467
	Delta Air Lines Inc. Pass Through Trust, 7.75%, 12/17/19	1,655	1,738
	JPMorgan Chase Commercial Mortgage Securities Corp. REMIC, 6.26%, 08/15/17 (i)	3,684	3,005
	JPMorgan Chase & Co. Commercial Mortgage Securities Inc. REMIC, 5.94%, 02/12/49 (i)	1,387	1,034
	JPMorgan Chase Commercial Mortgage Securities Corp. REMIC, 5.94%, 09/11/38 (i)	700	621
	JPMorgan Chase Commercial Mortgage Securities Corp. REMIC, 5.92%, 06/11/50 (i)	359	304
	Merrill Lynch/Countrywide Commercial Mortgage Trust REMIC, 6.11%, 06/12/46 (i)	515	482
	Morgan Stanley Capital I REMIC, 5.94%, 10/15/42 (i)	150	135
	Morgan Stanley Capital I REMIC, 5.81%, 12/12/49	1,000	984
	Sigma Finance, Inc. (d) (f) (u)	746	32
	United Air Lines Inc., 10.40%, 11/01/16 (e)	3,873	4,163
	Total Non-U.S. Government Agency Asset-Backed Securities (cost $26,344)		29,998
CORPORATE BONDS AND NOTES - 88.5%
CONSUMER DISCRETIONARY - 21.1%
	American Axle & Manufacturing Holdings Inc., 9.25%, 01/15/17 (t)	2,400	2,562
	Ameristar Casinos Inc., 9.25%, 06/01/14 (e)	1,231	1,289
	ArvinMeritor Inc., 10.63%, 03/15/18	2,500	2,588
	Beazer Homes USA Inc., 6.50%, 11/15/13 (e)	538	513
	Beazer Homes USA Inc., 6.88%, 07/15/15	3,000	2,640
	Belo Corp., 8.00%, 11/15/16	393	410
	Belo Corp., 7.25%, 09/15/27 (e)	3,000	2,430
	Cablevision Systems Corp., 8.63%, 09/15/17 (t)	1,000	1,058
	CCH II LLC, 13.50%, 11/30/16 (e)	1,467	1,764
	Cequel Communications Holdings I LLC, 8.63%, 11/15/17 (e) (t)	3,414	3,508
	Clear Channel Communications Inc., 6.25%, 03/15/11	1,000	968
	DirecTV Holdings LLC, 6.38%, 06/15/15	2,140	2,223
	DISH DBS Corp., 7.88%, 09/01/19	1,538	1,600
	Dollar General Corp., 11.88%, 07/15/17	1,373	1,600
	Easton-Bell Sports Inc., 9.75%, 12/01/16 (t)	1,400	1,474
	Ford Motor Co., 7.45%, 07/16/31 (e)	2,000	1,890
	Goodyear Tire & Rubber Co., 10.50%, 05/15/16 (e)	2,000	2,160
	Hanesbrands Inc., 8.00%, 12/15/16	370	383
	Harrah's Operating Co. Inc., 5.38%, 12/15/13	4,500	3,735
	Harrah's Operating Co. Inc., 10.75%, 02/01/16 (e)	1,000	832
	Harrah's Operating Co. Inc., 11.25%, 06/01/17 (e)	1,291	1,391
	Harrah's Operating Co. Inc., 10.00%, 12/15/18 (e)	2,000	1,655
	Hertz Corp., 10.50%, 01/01/16 (e)	1,500	1,611
	Interpublic Group Cos. Inc., 10.00%, 07/15/17	3,793	4,291
	J.C. Penney Co. Inc., 6.88%, 10/15/15 (e)	1,000	1,060
	J.C. Penney Co. Inc., 6.38%, 10/15/36	1,000	931
	Jarden Corp., 7.50%, 05/01/17 (e)	1,000	1,014
	Jarden Corp., 7.50%, 01/15/20	511	516
	JohnsonDiversey Inc., 8.25%, 11/15/19 (t)	767	794
	Lamar Media Corp., 9.75%, 04/01/14	444	485
	Lear Corp., 7.88%, 03/15/18 (e)	1,591	1,609
	Lear Corp., 8.13%, 03/15/20 (e)	955	971
	Lennar Corp., 12.25%, 06/01/17	2,000	2,445
	Levi Strauss & Co., 8.88%, 04/01/16	2,000	2,090
	Libbey Glass Inc., 10.00%, 02/15/15 (t)	577	607
	Macy's Retail Holdings Inc., 6.63%, 04/01/11	500	521
	Macy's Retail Holdings Inc., 5.90%, 12/01/16	1,000	998
	Macy's Retail Holdings Inc., 6.65%, 07/15/24	500	472
	Macy's Retail Holdings Inc., 6.90%, 01/15/32	1,000	928
	Macy's Retail Holdings Inc., 6.70%, 07/15/34	1,000	935
	Macy's Retail Holdings Inc., 6.38%, 03/15/37	1,000	920
	McClatchy Co., 11.50%, 02/15/17 (e) (t)	3,000	3,064
	MDC Partners Inc., 11.00%, 11/01/16 (t)	4,279	4,627
	Meritage Homes Corp., 6.25%, 03/15/15	2,000	1,920
	MGM Mirage Inc., 6.75%, 04/01/13 (e)	2,600	2,353
	MGM Mirage Inc., 7.63%, 01/15/17 (e)	925	770
	MGM Mirage Inc., 11.13%, 11/15/17 (t)	810	911
	MGM Mirage Inc., 11.38%, 03/01/18 (e) (t)	2,000	1,930
	MGM Mirage Inc., 9.00%, 03/15/20 (e) (t)	329	339
	Mohawk Industries Inc., 6.88%, 01/15/16 (l)	2,000	2,065
	Neiman-Marcus Group Inc., 10.38%, 10/15/15 (e)	4,205	4,342
	Newsday Secured, Term Loan, 10.50%, 08/01/13 (s) (u)	2,000	2,182
	Newsday Secured, Term Loan, 9.75%, 12/31/49 (s) (u)	808	882
	Nielsen Finance LLC, 12.50%, 08/01/16 (k)	2,000	1,900
	QVC Inc., 7.50%, 10/01/19 (t)	2,649	2,702
	Royal Caribbean Cruises Ltd., 7.25%, 06/15/16	3,500	3,456
	Sally Holdings LLC, 10.50%, 11/15/16 (e)	1,500	1,635
	Scientific Games International Inc., 9.25%, 06/15/19	667	705
	Scientific Games International Inc., 9.25%, 06/15/19 (e) (t)	1,500	1,592
	ServiceMaster Co., 10.75%, 07/15/15 (e) (t)	3,000	3,150
	Sheraton Holding Corp., 7.38%, 11/15/15	1,000	1,042
	Shingle Springs Tribal Gaming Authority, 9.38%, 06/15/15 (e) (t)	4,000	3,320
	Sinclair Television Group Inc., 8.00%, 03/15/12 (e)	1,000	992
	Sirius XM Radio Inc., 8.75%, 04/01/15 (e) (t)	3,000	2,989
	Sirius XM Radio Inc., 9.75%, 09/01/15 (t)	1,000	1,080
	Standard Pacific Corp., 7.00%, 08/15/15	4,000	3,700
	Station Casinos Inc., 6.00%, 04/01/12 (d)	90	6
	Station Casinos Inc., 6.50%, 02/01/14 (d)	1,000	1
	Station Casinos Inc., 6.88%, 03/01/16 (d)	2,175	3
	Station Casinos Inc., 7.75%, 08/15/16 (d)	690	50
	Station Casinos Inc., 6.63%, 03/15/18 (d)	50	-
	Sun Media Corp., 7.63%, 02/15/13	967	949
	Ticketmaster Entertainment Inc., 10.75%, 08/01/16	1,125	1,254
	TL Acquisition Corp., 10.50%, 01/15/15 (k) (t)	3,000	2,880
	TRW Automotive Inc., 7.00%, 03/15/14 (e) (t)	1,500	1,478
	TRW Automotive Inc., 8.88%, 12/01/17 (t)	2,000	2,072
	Univision Communications Inc., 9.75%, 03/15/15 (t)	2,216	1,911
	UPC Holding BV, 9.88%, 04/15/18 (t)	1,573	1,652
	Valassis Communications Inc., 8.25%, 03/01/15	1,500	1,541
	Videotron Ltee, 6.38%, 12/15/15 (e)	1,000	1,008
	Videotron Ltee, 9.13%, 04/15/18	175	194
	Virgin Media Inc., 6.50%, 11/15/16 (e)	1,000	1,226
	WMG Acquisition Corp., 9.50%, 06/15/16 (t)	322	344
	WMG Holdings Corp., 9.50%, 12/15/14 (e) (k)	1,000	1,008
	Wynn Las Vegas LLC, 6.63%, 12/01/14 (e)	3,000	2,992
	XM Satellite Radio Holdings Inc., 13.00%, 08/01/13 (t)	1,000	1,126
	Yonkers Racing Corp, 11.38%, 07/15/16 (e) (t)	1,329	1,435
			136,467
CONSUMER STAPLES - 3.9%
	Altria Group Inc., 10.20%, 02/06/39 (e) (l)	1,000	1,341
	ARAMARK Corp., 3.75%, 02/01/15 (i)	220	205
	ARAMARK Corp., 8.50%, 02/01/15 (e)	1,900	1,943
	Constellation Brands Inc., 7.25%, 05/15/17	1,000	1,025
	Del Monte Food Corp., 7.50%, 10/15/19 (t)	833	874
	Dole Food Co. Inc., 8.88%, 03/15/11 (e)	1,480	1,495
	Dole Food Co. Inc., 8.00%, 10/01/16 (t)	345	354
	New Albertson's Inc., 7.75%, 06/15/26	1,000	850
	New Albertson's Inc., 7.45%, 08/01/29	1,000	845
	New Albertson's Inc., 8.00%, 05/01/31	1,000	860
	Rite Aid Corp., 9.50%, 06/15/17 (e)	2,000	1,680
	Rite Aid Corp., 10.25%, 10/15/19 (e)	3,000	3,202
	Smithfields Foods Inc., 10.00%, 07/15/14 (e) (t)	1,605	1,790
	SUPERVALU Inc., 8.00%, 05/01/16 (e)	510	516
	Tops Market LLC, 10.13%, 10/15/15 (t)	1,846	1,920
	Toys R Us Property Co. I LLC, 10.75%, 07/15/17 (t)	3,000	3,345
	Tyson Foods Inc., 10.50%, 03/01/14	929	1,103
	Yankee Acquisition Corp., 8.50%, 02/15/15 (e)	2,000	2,060
	Yankee Acquisition Corp., 9.75%, 02/15/17 (e)	250	258
			25,666
ENERGY - 10.9%
	Aquilex Holdings LLC, 11.13%, 12/15/16 (t)	3,225	3,467
	Chesapeake Energy Corp., 7.00%, 08/15/14	800	811
	Chesapeake Energy Corp., 9.50%, 02/15/15	469	510
	Chesapeake Energy Corp., 6.63%, 01/15/16	50	49
	Chesapeake Energy Corp., 6.88%, 01/15/16	169	167
	Chesapeake Energy Corp., 6.25%, 01/15/18 (e)	1,435	1,367
	Chesapeake Energy Corp., 7.25%, 12/15/18 (e)	1,500	1,500
	Cie Generale de Geophysique-Veritas, 9.50%, 05/15/16 (e)	1,500	1,605
	Cloud Peak Energy Resources LLC, 8.50%, 12/15/19 (t)	2,776	2,845
	Consol Energy Inc., 8.00%, 04/01/17 (t)	718	738
	Consol Energy Inc., 8.25%, 04/01/20 (t)	1,191	1,224
	Continental Resources Inc., 8.25%, 10/01/19	187	198
	Continental Resources Inc., 7.38%, 10/01/20 (t)	1,241	1,230
	Denbury Resources Inc., 9.75%, 03/01/16	1,251	1,376
	El Paso Corp., 8.25%, 02/15/16	320	342
	El Paso Corp., 7.80%, 08/01/31	2,460	2,418
	El Paso Corp., 7.75%, 01/15/32	1,430	1,405
	Enterprise Products Operating LLC, 8.38%, 08/01/16 (e) (i)	860	873
	Enterprise Products Operating LLC, 7.03%, 01/15/68 (i)	3,700	3,520
	Gibson Energy ULC, 10.00%, 01/15/18 (e) (t)	2,900	2,849
	Hilcorp Energy Co., 8.00%, 02/15/20 (e) (t)	2,000	1,940
	Holly Corp., 9.88%, 06/15/17 (t)	1,000	1,030
	Hornbeck Offshore Services Inc., 8.00%, 09/01/17	3,000	3,000
	Linn Energy LLC, 9.88%, 07/01/18	1,000	1,070
	Linn Energy LLC, 8.63%, 04/15/20 (t)	2,811	2,741
	MarkWest Energy Partners LP, 6.88%, 11/01/14	207	203
	MarkWest Energy Partners LP / MarkWest Energy Finance Corp., 8.75%, 04/15/18	1,517	1,557
	Newfield Exploration Co., 6.88%, 02/01/20 (e)	3,430	3,456
	Overseas Shipholding Group Inc., 7.50%, 02/15/24	3,000	2,610
	PetroHawk Energy Corp., 9.13%, 07/15/13	1,040	1,086
	Petrohawk Energy Corp., 10.50%, 08/01/14	198	219
	PetroHawk Energy Corp., 7.88%, 06/01/15	1,000	1,019
	Pride International Inc., 7.38%, 07/15/14	2,000	2,060
	Quicksilver Resources Inc., 11.75%, 01/01/16 (e)	1,944	2,226
	Quicksilver Resources Inc., 7.13%, 04/01/16	728	692
	Range Resources Corp., 7.50%, 05/15/16	2,000	2,060
	Range Resources Corp., 7.25%, 05/01/18	294	302
	SandRidge Energy Inc., 8.75%, 01/15/20 (e) (t)	1,275	1,243
	Stone Energy Corp., 8.63%, 02/01/17	2,658	2,618
	Targa Resources Partners LP, 8.25%, 07/01/16	1,000	1,022
	Teekay Corp., 8.50%, 01/15/20	459	480
	Tesoro Corp., 6.50%, 06/01/17	2,000	1,840
	Tesoro Corp., 9.75%, 06/01/19 (e)	378	395
	Texas Competitive Electric Holdings Co. LLC, Term Loan B, 4.57%, 06/30/11 (i) (s) (u)	3,949	3,221
	Texas Competitive Electric Holdings Co. LLC, 10.25%, 11/01/15 (k)	2,000	1,390
	Valero Energy Corp., 9.38%, 03/15/19 (e)	1,767	2,104
	Whiting Petroleum Corp., 7.00%, 02/01/14	625	640
			70,718
FINANCIALS - 17.1%
	American General Finance Corp., 6.50%, 09/15/17	1,000	852
	American General Finance Corp., 6.90%, 12/15/17	8,000	7,007
	BAC Capital Trust VI, 5.63%, 03/08/35	4,000	3,303
	Bank of America Corp., 8.00% (callable at 100 on 01/30/18) (p)	1,500	1,530
	Capital One Capital VI, 8.88%, 05/15/40	3,852	4,198
	Cemex Finance LLC, 9.50%, 12/14/16 (t)	4,519	4,677
	CEVA Group Plc, 11.63%, 10/01/16 (t)	1,500	1,601
	Citigroup Capital XXI, 8.30%, 12/21/57 (i)	4,050	4,101
	Citigroup Inc., 5.50%, 02/15/17	1,000	988
	Citigroup Inc., 8.50%, 05/22/19	802	936
	Ford Motor Credit Co. LLC, 5.51%, 06/15/11 (e) (i)	1,070	1,091
	Ford Motor Credit Co. LLC, 9.88%, 08/10/11	1,045	1,108
	Ford Motor Credit Co. LLC, 7.25%, 10/25/11	4,000	4,136
	Ford Motor Credit Co. LLC, 3.05%, 01/13/12 (i)	358	347
	Ford Motor Credit Co. LLC, 7.50%, 08/01/12 (e)	3,000	3,106
	Ford Motor Credit Co. LLC, 8.13%, 01/15/20	1,053	1,105
	Genworth Financial Inc., 8.63%, 12/15/16	2,416	2,636
	GMAC Inc., 6.88%, 08/28/12 (e)	4,061	4,117
	GMAC Inc., 8.30%, 02/12/15 (t)	4,688	4,922
	GMAC Inc., 8.00%, 11/01/31 (e)	3,000	2,865
	Hawker Beechcraft Acquisition Co. LLC, 8.50%, 04/01/15 (e)	1,000	772
	Hawker Beechcraft Acquisition Co. LLC, 9.75%, 04/01/17	2,000	1,435
	Host Hotels & Resorts LP, 7.13%, 11/01/13 (e)	2,075	2,111
	International Lease Finance Corp., 5.63%, 09/20/13	1,396	1,317
	International Lease Finance Corp., 5.65%, 06/01/14 (e)	4,604	4,267
	International Lease Finance Corp., 8.63%, 09/15/15 (e) (t)	2,988	3,055
	International Lease Finance Corp., 8.75%, 03/15/17 (t)	6,179	6,321
	JPMorgan Chase & Co., 7.90% (callable at 100 beginning 04/30/18) (p)	2,983	3,180
	LBI Escrow Corp., 8.00%, 11/01/17 (t)	1,204	1,249
	Liberty Mutual Group Inc., 7.80%, 03/15/37 (i) (t)	2,300	2,036
	New Communications Holdings Inc., 8.25%, 04/15/17 (t)	938	954
	New Communications Holdings Inc., 8.50%, 04/15/20 (t)	1,244	1,253
	Nielsen Finance LLC, 10.00%, 08/01/14	1,500	1,571
	Nielsen Finance LLC, 11.50%, 05/01/16	444	502
	Petroplus Finance Ltd., 9.38%, 09/15/19 (e) (t)	1,179	1,073
	Pinnacle Foods Finance LLC, 9.25%, 04/01/15 (e) (t)	4,000	4,100
	Pinnacle Foods Finance LLC, 10.63%, 04/01/17 (e)	1,000	1,058
	PNC Preferred Funding Trust III, 8.70% (callable at 100 on 03/15/13) (p) (t)	3,000	3,143
	Smurfit Kappa Funding Plc, 7.75%, 04/01/15	575	564
	Smurfit Kappa Group, Term Loan, 0.50%, 02/10/16 (s) (u)	2,800	2,793
	Universal City Development Partners Ltd., 8.88%, 11/15/15 (t)	842	848
	Universal City Development Partners Ltd., 10.88%, 11/15/16 (t)	418	437
	UnumProvident Finance Co. Plc, 6.85%, 11/15/15 (t)	1,000	1,062
	UPC Germany GmbH, 8.13%, 12/01/17 (e) (t)	2,000	2,062
	Washington Mutual Bank, 6.88%, 06/15/11 (d)	1,500	9
	WEA Finance LLC, 6.75%, 09/02/19 (t)	2,694	2,875
	Wells Fargo & Co., 7.98% (callable at 100 on 03/15/18) (p)	1,000	1,045
	Wells Fargo Capital XIII, 7.70% (callable at 100 on 03/26/13) (p)	2,000	2,065
			109,965
HEALTH CARE - 4.3%
	Biomet Inc., 10.38%, 10/15/17	2,000	2,200
	Community Health Systems Inc., 8.88%, 07/15/15	2,733	2,829
	HCA Inc., 6.25%, 02/15/13	3,700	3,672
	HCA Inc., 5.75%, 03/15/14	2,095	1,977
	HCA Inc., 6.50%, 02/15/16 (e)	2,000	1,898
	HealthSouth Corp., 10.75%, 06/15/16	2,000	2,162
	HealthSouth Corp., 8.13%, 02/15/20 (e)	3,000	2,985
	IASIS Healthcare LLC / IASIS Capital Corp., 8.75%, 06/15/14	2,300	2,343
	Talecris Biotherapeutics Holdings Corp., 7.75%, 11/15/16 (e) (t)	498	500
	Tenet Healthcare Corp., 7.38%, 02/01/13	1,500	1,515
	Tenet Healthcare Corp., 9.25%, 02/01/15 (e) (k)	1,000	1,049
	Tenet Healthcare Corp., 8.88%, 07/01/19 (t)	1,000	1,082
	US Oncology Inc., 9.13%, 08/15/17 (e)	828	865
	Vanguard Health Holding Co. II LLC, 8.00%, 02/01/18 (e) (t)	2,679	2,605
			27,682
INDUSTRIALS - 5.9%
	ACCO Brands Corp., 10.63%, 03/15/15 (t)	469	512
	BE Aerospace Inc., 8.50%, 07/01/18	1,500	1,601
	Bombardier Inc., 6.30%, 05/01/14 (t)	1,000	1,038
	Bombardier Inc., 7.50%, 03/15/18 (e) (t)	4,730	4,931
	Delta Air Lines Inc., 12.25%, 03/15/15 (e) (k) (t)	5,963	6,358
	Freedom Group Inc., 10.25%, 08/01/15 (t)	571	604
	L-3 Communications Corp., 6.38%, 10/15/15	1,000	1,026
	Manitowoc Co. Inc., 9.50%, 02/15/18 (e)	1,429	1,490
	Masco Corp., 6.13%, 10/03/16 (e)	3,000	2,992
	Masco Corp., 7.13%, 03/15/20	1,644	1,661
	Navistar International Corp., 8.25%, 11/01/21 (e)	1,053	1,074
	Oshkosh Corp., 8.50%, 03/01/20 (e) (t)	720	745
	Owens Corning, 9.00%, 06/15/19	1,383	1,630
	Spirit Aerosystems Inc., 7.50%, 10/01/17 (t)	485	497
	Terex Corp., 10.88%, 06/01/16	2,000	2,215
	TransDigm Inc., 7.75%, 07/15/14 (t)	1,500	1,538
	Trimas Corp., 9.75%, 12/15/17 (e) (t)	2,500	2,588
	United Air Lines Inc., 9.88%, 08/01/13 (e) (t)	412	433
	United Air Lines Inc., 12.00%, 11/01/13 (e) (t)	2,000	2,070
	USG Corp., 9.75%, 08/01/14 (t)	1,000	1,060
	Wolseley Plc - Private Placement, 5.32%, 11/17/20 (f) (s) (u)	2,136	1,853
			37,916
INFORMATION TECHNOLOGY - 2.7%
	First Data Corp., 9.88%, 09/24/15 (e)	1,700	1,466
	First Data Corp., 10.55%, 09/24/15	2,106	1,779
	Freescale Semiconductor Inc., 8.88%, 12/15/14 (e)	980	936
	Freescale Semiconductor Inc., 10.13%, 12/15/16 (e)	3,800	3,363
	Hanson Ltd., 6.13%, 08/15/16	1,231	1,218
	Sanmina-SCI Corp., 8.13%, 03/01/16 (e)	683	687
	Sungard Data Systems Inc., 9.13%, 08/15/13	400	410
	Sungard Data Systems Inc., 10.63%, 05/15/15	155	168
	Sungard Data Systems Inc., 10.25%, 08/15/15 (e)	2,515	2,644
	Unisys Corp., 12.75%, 10/15/14 (t)	499	582
	Unisys Corp., 14.25%, 09/15/15 (t)	401	478
	Viasat Inc., 8.88%, 09/15/16 (t)	628	642
	Viasystems Group Inc., 12.00%, 01/15/15 (e) (t)	3,000	3,248
			17,621
MATERIALS - 8.7%
	Allegheny Technologies Inc., 9.38%, 06/01/19	1,186	1,380
	Berry Plastics Corp., 8.88%, 09/15/14	3,000	2,929
	Boise Paper Holdings LLC, 9.00%, 11/01/17 (t)	500	525
	Boise Paper Holdings LLC, 8.00%, 04/01/20 (e) (t)	1,250	1,250
	Building Materials Corp. of America, 7.00%, 02/15/20 (t)	658	666
	Building Materials Corp. of America, 7.50%, 03/15/20 (e) (t)	1,172	1,169
	Cascades Inc., 7.88%, 01/15/20 (t)	2,077	2,087
	Domtar Corp., 7.13%, 08/15/15	1,000	1,040
	Domtar Corp., 10.75%, 06/01/17 (e)	1,105	1,343
	Freeport-McMoRan Copper & Gold Inc., 8.38%, 04/01/17	4,020	4,472
	Georgia-Pacific LLC, 8.25%, 05/01/16 (t)	294	320
	Gerdau Holdings Inc., 7.00%, 01/20/20 (t)	2,020	2,131
	Goodman Global Group Inc., 0.00%, 12/15/14 (j) (t)	780	455
	Graham Packaging Co. LP, 8.25%, 01/01/2017 (e) (t)	1,000	1,008
	Hexion Specialty Chemicals Inc., 9.20%, 03/15/21	2,165	1,743
	Hexion US Finance Corp., 8.88%, 02/01/18 (t)	3,641	3,586
	Huntsman International LLC, 7.88%, 11/15/14 (e)	500	505
	Huntsman International LLC, 7.38%, 01/01/15 (e) (k)	2,000	1,985
	Huntsman International LLC, 8.63%, 03/15/20 (e) (t)	769	773
	Momentive Performance Materials Inc., 9.75%, 12/01/14 (e) (k)	3,000	3,000
	Nalco Co., 8.88%, 11/15/13	1,732	1,784
	NewPage Corp., 11.38%, 12/31/14 (e)	2,851	2,837
	Owens-Brockway Glass Container Inc., 7.38%, 05/15/16	511	537
	PE Paper Escrow GmbH, 12.00%, 08/01/14 (t)	533	602
	Plastipak Holdings Inc., 10.63%, 08/15/19 (t)	2,400	2,670
	Radnor Holdings Corp., 11.00%, 07/15/10 (d) (s) (u)	100	-
	Sappi Papier Holding AG, 6.75%, 06/15/12 (t)	908	903
	Steel Dynamics Inc., 6.75%, 04/01/15	2,000	2,015
	Stone Container Finance Co., 7.38%, 07/15/14 (d)	1,375	1,272
	Teck Resources Ltd., 10.75%, 05/15/19	4,191	5,134
	Terra Capital Inc., 7.75%, 11/01/19	461	557
	Verso Paper Holdings LLC, 11.50%, 07/01/14 (e) (t)	2,000	2,160
	Verso Paper Holdings LLC, 11.38%, 08/01/16 (e)	1,000	872
	Weyerhaeuser Co., 7.38%, 10/01/19	2,253	2,379
			56,089
TELECOMMUNICATION SERVICES - 10.5%
	CC Holdings GS V LLC, 7.75%, 05/01/17 (t)	739	806
	Cincinnati Bell Inc., 8.38%, 01/15/14	3,385	3,482
	Cincinnati Bell Inc., 8.75%, 03/15/18 (e)	2,312	2,332
	Clearwire Communications LLC, 12.00%, 12/01/15 (e) (t)	2,488	2,538
	Cricket Communications Inc., 9.38%, 11/01/14 (e)	2,000	2,035
	Crown Castle International Corp., 9.00%, 01/15/15 (e)	633	685
	Crown Castle International Corp., 7.13%, 11/01/19	1,658	1,679
	Frontier Communications Corp., 6.25%, 01/15/13	601	607
	Frontier Communications Corp., 8.25%, 05/01/14	698	729
	Frontier Communications Corp., 8.13%, 10/01/18	882	882
	Frontier Communications Corp., 7.13%, 03/15/19	620	589
	Inmarsat Finance Plc, 7.38%, 12/01/17 (t)	781	812
	Intelsat Corp., 9.25%, 08/15/14	1,000	1,025
	Intelsat Ltd., 7.63%, 04/15/12 (e)	2,000	2,040
	Intelsat Luxembourg SA, 11.25%, 02/04/17 (k)	4,500	4,759
	Intelsat Subsidiary Holding Co. Ltd., 8.88%, 01/15/15	3,449	3,561
	ITC Deltacom Inc., 10.50%, 04/01/16 (t)	3,000	2,989
	Level 3 Financing Inc., 9.25%, 11/01/14 (e)	2,000	1,950
	Level 3 Financing Inc., 10.00%, 02/01/18 (t)	3,000	2,865
	Nextel Communications Inc., 6.88%, 10/31/13 (e)	371	362
	Nextel Communications Inc., 5.95%, 03/15/14	2,629	2,452
	Nordic Telephone Co. Holdings ApS, 8.88%, 05/01/16 (t)	945	1,014
	PAETEC Holding Corp., 9.50%, 07/15/15 (e)	3,000	3,038
	Qwest Communications International Inc., 7.50%, 02/15/14	2,325	2,366
	Qwest Communications International Inc., 8.00%, 10/01/15 (t)	1,188	1,265
	Qwest Communications International Inc., 7.13%, 04/01/18 (e) (t)	1,844	1,904
	Sprint Capital Corp., 6.88%, 11/15/28	4,665	3,755
	Sprint Nextel Corp., 6.00%, 12/01/16	1,654	1,493
	Telesat Canada, 11.00%, 11/01/15	2,000	2,225
	Telesat Canada, 12.50%, 11/01/17	500	575
	Virgin Media Finance Plc, 9.13%, 08/15/16	1,000	1,062
	Virgin Media Finance Plc, 9.50%, 08/15/16	2,000	2,185
	Virgin Media Finance Plc, 8.38%, 10/15/19 (e)	319	327
	West Corp., 9.50% 10/15/14 (e)	1,000	1,028
	Wind Acquisition Finance SA, 11.75%, 07/15/17 (t)	1,567	1,732
	Wind Acquisition Finance SA, 12.25%, 07/15/17 (e) (t)	1,000	990
	Windstream Corp., 8.63%, 08/01/16	1,925	1,968
	Windstream Corp., 7.88%, 11/01/17	2,000	1,970
			68,076
UTILITIES - 3.4%
	AES China Generating Co. Ltd., 8.25%, 06/26/10	155	147
	AES Corp., 9.75%, 04/15/16 (e) (t)	1,355	1,467
	AES Corp., 8.00%, 10/15/17 (e)	2,000	2,030
	CMS Energy Corp., 6.55%, 07/17/17	1,500	1,548
	Dynegy Holdings Inc., 7.75%, 06/01/19 (e)	3,500	2,642
	Dynegy Holdings Inc., 7.63%, 10/15/26	125	79
	Edison Mission Energy, 7.50%, 06/15/13 (e)	170	147
	Edison Mission Energy, 7.75%, 06/15/16 (e)	940	686
	Edison Mission Energy, 7.00%, 05/15/17 (e)	1,900	1,325
	Energy Future Holdings Corp., 10.88%, 11/01/17 (e) (k)	3,500	2,599
	Energy Future Holdings Corp., 11.25%, 11/01/17	3,180	2,162
	Ipalco Enterprises Inc., 7.25%, 04/01/16 (t)	800	830
	Mirant North America LLC, 7.38%, 12/31/13	1,780	1,776
	NiSource Finance Corp., 10.75%, 03/15/16 (l)	423	538
	NRG Energy Inc., 7.38%, 02/01/16	3,000	2,978
	RRI Energy Inc., 7.88%, 06/15/17 (e)	1,500	1,346
			22,300
	Total Corporate Bonds and Notes (cost $536,345)		572,500
SHORT TERM INVESTMENTS - 28.3%
Mutual Funds - 5.8%
	JNL Money Market Fund, 0.03% (a) (h)	37,143	37,143
Securities Lending Collateral - 22.5%
	Securities Lending Cash Collateral Fund LLC, 0.24% (a) (h)	137,002	137,002
	Securities Lending Liquidating Fund LLC, 0.38% (a) (h)	8,555	8,555
			145,557
	Total Short Term Investments (cost $182,700)		182,700
Total Investments - 123.4% (cost $758,140)			798,068
Other Assets and Liabilities, Net -  (23.4%)			(151,416)
Total Net Assets - 100%			$      646,652
JNL/PPM America Mid Cap Value Fund
COMMON STOCKS - 96.5%
CONSUMER DISCRETIONARY - 16.1%
	Abercrombie & Fitch Co. - Class A	15	$             689
	Bally Technologies Inc. (c)	15	612
	Fortune Brands Inc.	15	742
	Liz Claiborne Inc. (c) (e)	51	375
	Macy's Inc.	42	908
	Newell Rubbermaid Inc.	50	752
	Royal Caribbean Cruises Ltd. (c) (e)	26	848
	VF Corp.	12	922
	Viacom Inc. - Class B (c)	12	413
			6,261
CONSUMER STAPLES - 4.3%
	Corn Products International Inc.	27	929
	NBTY Inc. (c)	16	749
			1,678
ENERGY - 7.4%
	Comstock Resources Inc. (c)	25	782
	Hercules Offshore Inc. (c)	90	389
	Newfield Exploration Co. (c)	18	958
	Patterson-UTI Energy Inc.	55	763
			2,892
FINANCIALS - 12.0%
	American Financial Group Inc.	33	927
	Astoria Financial Corp. (e)	64	927
	Hartford Financial Services Group Inc.	32	895
	Lincoln National Corp.	31	955
	Reinsurance Group of America Inc.	18	961
			4,665
HEALTH CARE - 8.0%
	CIGNA Corp.	26	944
	LifePoint Hospitals Inc. (c)	18	666
	Owens & Minor Inc.	16	752
	Res-Care Inc. (c)	62	746
			3,108
INDUSTRIALS - 23.4%
	Belden Inc.	15	398
	Con-Way Inc.	21	730
	Esterline Technologies Corp. (c)	19	914
	GATX Corp.	26	745
	Goodrich Corp.	13	931
	Kennametal Inc.	33	928
	Lincoln Electric Holdings Inc.	17	940
	SkyWest Inc.	26	374
	Spirit Aerosystems Holdings Inc. (c)	40	933
	Steelcase Inc.	127	823
	Terex Corp. (c)	31	697
	Textron Inc.	34	724
			9,137
INFORMATION TECHNOLOGY - 10.6%
	Avnet Inc. (c)	32	972
	Computer Sciences Corp. (c)	16	866
	Ingram Micro Inc. - Class A (c)	52	907
	Novell Inc. (c)	163	978
	Omnivision Technologies Inc. (c)	23	395
			4,118
MATERIALS - 10.1%
	Allegheny Technologies Inc.	10	561
	Nucor Corp.	8	368
	Olin Corp.	29	565
	PPG Industries Inc.	12	772
	Reliance Steel & Aluminum Co.	19	935
	Steel Dynamics Inc.	42	737
			3,938
UTILITIES - 4.6%
	Edison International	27	933
	Westar Energy Inc.	39	861
			1,794
	Total Common Stocks (cost $32,975)		37,591
NON-U.S. GOVERNMENT AGENCY ASSET-BACKED SECURITIES - 0.0%
	Sigma Finance, Inc. (d) (f) (u)	$                  17	1
	Total Non-U.S. Government Agency Asset-Backed Securities (cost $17)		1
SHORT TERM INVESTMENTS - 3.3%
Mutual Funds - 2.0%
	JNL Money Market Fund, 0.03% (a) (h)	792	792
Securities Lending Collateral - 1.3%
	Securities Lending Cash Collateral Fund LLC, 0.24% (a) (h)	477	477
	Total Short Term Investments (cost $1,269)		1,269
Total Investments - 99.8% (cost $34,261)			38,861
Other Assets and Liabilities, Net - 0.2%			84
Total Net Assets - 100%			$        38,945
JNL/PPM America Small Cap Value Fund
COMMON STOCKS - 99.3%
CONSUMER DISCRETIONARY - 21.8%
	Abercrombie & Fitch Co. - Class A	7	$             301
	Bally Technologies Inc. (c)	20	815
	Bob Evans Farms Inc.	25	782
	Columbia Sportswear Co. (e)	15	762
	Jakks Pacific Inc. (c)	58	753
	K-Swiss Inc. - Class A (c)	51	533
	Liz Claiborne Inc. (c) (e)	73	545
	RC2 Corp. (c)	52	783
	Skechers U.S.A. Inc. - Class A (c)	22	814
	Superior Industries International Inc. (e)	48	777
			6,865
CONSUMER STAPLES - 7.2%
	Corn Products International Inc.	17	596
	Del Monte Foods Co.	31	456
	Hain Celestial Group Inc. (c)	44	763
	NBTY Inc. (c)	10	456
			2,271
ENERGY - 6.2%
	Comstock Resources Inc. (c)	26	820
	Hercules Offshore Inc. (c)	190	818
	Patterson-UTI Energy Inc.	23	316
			1,954
FINANCIALS - 13.3%
	American Financial Group Inc.	22	629
	Astoria Financial Corp. (e)	54	780
	Delphi Financial Group Inc.	31	782
	Independent Bank Corp.	31	769
	Reinsurance Group of America Inc.	9	467
	SeaBright Insurance Holdings Inc. (c) (e)	71	778
			4,205
HEALTH CARE - 6.6%
	LifePoint Hospitals Inc. (c)	13	493
	Owens & Minor Inc.	17	789
	Res-Care Inc. (c)	65	784
			2,066
INDUSTRIALS - 28.7%
	Apogee Enterprises Inc.	49	781
	Belden Inc.	31	840
	Con-Way Inc.	22	776
	Esterline Technologies Corp. (c)	16	771
	GATX Corp. (e)	27	765
	GenCorp Inc. (c)	164	945
	Kennametal Inc.	28	773
	Lincoln Electric Holdings Inc.	14	761
	SkyWest Inc.	53	758
	Spirit Aerosystems Holdings Inc. (c)	25	581
	Steelcase Inc.	107	692
	Terex Corp. (c)	27	602
			9,045
INFORMATION TECHNOLOGY - 8.9%
	Benchmark Electronics Inc. (c)	37	769
	Ingram Micro Inc. - Class A (c)	24	414
	Novell Inc. (c)	134	801
	Omnivision Technologies Inc. (c)	49	835
			2,819
MATERIALS - 4.6%
	Olin Corp.	41	795
	Reliance Steel & Aluminum Co.	8	389
	Steel Dynamics Inc.	16	276
			1,460
UTILITIES - 2.0%
	Westar Energy Inc.	28	618
	Total Common Stocks (cost $27,183)		31,303
NON-U.S. GOVERNMENT AGENCY ASSET-BACKED SECURITIES - 0.0%
	Sigma Finance, Inc. (d) (f) (u)	$                    3	-
	Total Non-U.S. Government Agency Asset-Backed Securities (cost $3)		-
SHORT TERM INVESTMENTS - 5.6%
Mutual Funds - 2.4%
	JNL Money Market Fund, 0.03% (a) (h)	765	765
Securities Lending Collateral - 3.2%
	Securities Lending Cash Collateral Fund LLC, 0.24% (a) (h)	1,019	1,019
	Total Short Term Investments (cost $1,784)		1,784
Total Investments - 104.9% (cost $28,970)			33,087
Other Assets and Liabilities, Net -  (4.9%)			(1,556)
Total Net Assets - 100%			$        31,531
JNL/PPM America Value Equity Fund
COMMON STOCKS - 99.5%
CONSUMER DISCRETIONARY - 14.7%
	Abercrombie & Fitch Co. - Class A	23	$          1,062
	Comcast Corp. - Class A	148	2,791
	Fortune Brands Inc.	22	1,082
	Home Depot Inc.	52	1,672
	Macy's Inc.	75	1,637
	Newell Rubbermaid Inc.	102	1,556
	Royal Caribbean Cruises Ltd. (c) (e)	33	1,079
	VF Corp.	23	1,876
	Viacom Inc. - Class B (c)	80	2,764
			15,519
CONSUMER STAPLES - 6.9%
	Altria Group Inc.	127	2,610
	Archer-Daniels-Midland Co.	93	2,676
	Procter & Gamble Co.	33	2,069
			7,355
ENERGY - 10.7%
	Apache Corp.	27	2,720
	Chevron Corp.	35	2,624
	ConocoPhillips	36	1,842
	Newfield Exploration Co. (c)	27	1,426
	Occidental Petroleum Corp.	20	1,674
	Patterson-UTI Energy Inc.	78	1,084
			11,370
FINANCIALS - 21.7%
	Allstate Corp.	61	1,958
	Bank of America Corp.	154	2,744
	Goldman Sachs Group Inc.	14	2,406
	Hartford Financial Services Group Inc.	94	2,680
	JPMorgan Chase & Co.	59	2,654
	Lincoln National Corp.	88	2,708
	Morgan Stanley	90	2,639
	Travelers Cos. Inc.	47	2,535
	Wells Fargo & Co.	86	2,664
			22,988
HEALTH CARE - 9.8%
	CIGNA Corp.	74	2,703
	Johnson & Johnson	40	2,588
	Merck & Co. Inc.	68	2,536
	Pfizer Inc.	150	2,578
			10,405
INDUSTRIALS - 11.4%
	Caterpillar Inc. (e)	44	2,734
	Goodrich Corp.	36	2,553
	Lockheed Martin Corp.	28	2,330
	Spirit Aerosystems Holdings Inc. (c)	63	1,471
	Terex Corp. (c)	46	1,033
	Textron Inc. (e)	93	1,968
			12,089
INFORMATION TECHNOLOGY - 12.7%
	Avnet Inc. (c)	36	1,068
	Computer Sciences Corp. (c)	38	2,071
	Hewlett-Packard Co.	49	2,615
	Intel Corp.	116	2,589
	International Business Machines Corp.	20	2,565
	Microsoft Corp.	86	2,511
			13,419
MATERIALS - 5.0%
	Allegheny Technologies Inc.	20	1,064
	Nucor Corp.	58	2,650
	PPG Industries Inc.	24	1,563
			5,277
TELECOMMUNICATION SERVICES - 4.5%
	AT&T Inc.	78	2,021
	Verizon Communications Inc.	87	2,683
			4,704
UTILITIES - 2.1%
	Edison International	66	2,255
	Total Common Stocks (cost $82,143)		105,381
NON-U.S. GOVERNMENT AGENCY ASSET-BACKED SECURITIES - 0.0%
	Sigma Finance, Inc. (d) (f) (u)	$                323	14
	Total Non-U.S. Government Agency Asset-Backed Securities (cost $323)		14
SHORT TERM INVESTMENTS - 2.4%
Mutual Funds - 0.4%
	JNL Money Market Fund, 0.03% (a) (h)	453	453
Securities Lending Collateral - 2.0%
	Securities Lending Cash Collateral Fund LLC, 0.24% (a) (h)	482	482
	Securities Lending Liquidating Fund LLC, 0.38% (a) (h)	1,608	1,608
			2,090
	Total Short Term Investments (cost $2,543)		2,543
Total Investments - 101.9% (cost $85,009)			107,938
Other Assets and Liabilities, Net -  (1.9%)			(1,971)
Total Net Assets - 100%			$      105,967
JNL/Red Rocks Listed Private Equity Fund
COMMON STOCKS - 97.7%
DIVERSIFIED - 11.7%
Diversified Operations - 2.2%
	Wendel Investissement (e)	127	$          7,564
Holding Companies - Diversified - 9.5%
	Ackermans & van Haaren NV	108	7,868
	HAL Trust NV (e)	94	10,121
	Leucadia National Corp. (c) (e)	563	13,962
			31,951
FINANCIALS - 84.2%
Closed- End Funds - 24.0%
	AP Alternative Assets LP (c) (e)	1,249	8,993
	ARC Capital Holdings Ltd. (c)	7,148	7,666
	Blackstone Group LP	351	4,908
	Candover Investments Plc (c)	652	6,509
	Electra Private Equity Plc (c)	486	9,940
	Graphite Enterprise Trust Plc	1,731	8,405
	HBM BioVentures AG (c)	173	8,129
	HgCapital Trust Plc	626	8,074
	Princess Private Equity Holding Ltd. (c)	1,169	6,725
	Private Equity Investor Plc (c)	1,024	1,779
	SVG Capital Plc (c)	4,281	10,120
			81,248
Diversified Financial Services - 25.4%
	Brait SA (e)	509	1,407
	Conversus Capital LP (c)	936	15,262
	GP Investments Ltd. (c)	2,216	10,903
	Intermediate Capital Group Plc	1,945	7,999
	KKR Private Equity Investors LLP	2,648	30,447
	Onex Corp.	698	19,854
			85,872
Investment Companies - 17.5%
	China Merchants China Direct Investments Ltd. (c)	3,967	9,269
	DeA Capital SpA (c) (e)	2,361	4,117
	Eurazeo (e)	89	6,182
	Investor AB - Class B	424	8,133
	Macquarie International Infrastructure Fund Ltd.	9,112	3,420
	MVC Capital Inc.	563	7,640
	Prospect Capital Corp. (e)	309	3,758
	Ratos AB - Class B (c)	365	12,107
	RHJ International (c)	526	4,559
			59,185
Venture Capital - 17.3%
	3i Group Plc	2,376	10,499
	3i Infrastructure PLC	4,593	7,680
	Altamir Amboise (c)	1,258	10,125
	Deutsche Beteiligungs AG	277	6,389
	Dinamia Capital Privado Scr SA	393	5,420
	Gimv NV	232	12,518
	IP Group Plc (c)	4,106	2,617
	Jafco Co. Ltd. (c) (e)	118	3,109
			58,357
INFORMATION TECHNOLOGY - 1.8%
	Internet Capital Group Inc. (c)	712	6,017
	Total Common Stocks (cost $282,783)		330,194
SHORT TERM INVESTMENTS - 5.5%
Mutual Funds - 2.9%
	JNL Money Market Fund, 0.03% (a) (h)	9,655	9,655
Securities Lending Collateral - 2.6%
	Securities Lending Cash Collateral Fund LLC, 0.24% (a) (h)	8,755	8,755
	Total Short Term Investments (cost $18,410)		18,410
Total Investments - 103.2% (cost $301,193)			348,604
Other Assets and Liabilities, Net -  (3.2%)			(10,735)
Total Net Assets - 100%			$      337,869
JNL/S&P Managed Conservative Fund (b)
INVESTMENT FUNDS - 100.3%
	JNL/AIM International Growth Fund (3.6%) (a)	1,676	$        15,725
	JNL/AIM Large Cap Growth Fund (3.2%) (a)	1,968	22,118
	JNL/Capital Guardian Global Diversified Research Fund (1.9%) (a)	328	7,003
	JNL/Capital Guardian U.S. Growth Equity Fund (3.5%) (a)	1,208	23,747
	JNL/Eagle Core Equity Fund (14.7%) (a)	3,335	23,246
	JNL/Goldman Sachs Core Plus Bond Fund (12.8%) (a)	9,209	110,414
	JNL/Goldman Sachs Emerging Markets Debt Fund (4.8%) (a)	1,657	20,890
	JNL/JPMorgan International Value Fund (2.9%) (a)	2,028	14,557
	JNL/JPMorgan U.S. Government & Quality Bond Fund (10.3%) (a)	5,913	74,803
	JNL/PIMCO Real Return Fund (6.5%) (a)	7,510	88,167
	JNL/PIMCO Total Return Bond Fund (4.2%) (a)	8,273	103,903
	JNL/Select Value Fund (2.9%) (a)	1,545	25,298
	JNL/T. Rowe Price Established Growth Fund (2.1%) (a)	1,238	23,466
	JNL/T. Rowe Price Value Fund (2.6%) (a)	2,270	22,741
	JNL/T.Rowe Price Short-Term Bond Fund (19.5%) (a)	12,369	121,463
	Total Investment Funds (cost $686,633)		697,541
Total Investments - 100.3% (cost $686,633)			697,541
Other Assets and Liabilities, Net -  (0.3%)			(2,411)
Total Net Assets - 100%			$      695,130
JNL/S&P Managed Moderate Fund (b)
INVESTMENT FUNDS - 100.0%
	JNL/AIM Global Real Estate Fund (1.4%) (a)	701	$          5,425
	JNL/AIM International Growth Fund (5.5%) (a)	2,574	24,147
	JNL/AIM Large Cap Growth Fund (9.1%) (a)	5,702	64,096
	JNL/Capital Guardian Global Diversified Research Fund (5.7%) (a)	976	20,824
	JNL/Capital Guardian International Small Cap Fund (0.4%) (a)	98	696
	JNL/Capital Guardian U.S. Growth Equity Fund (9.3%) (a)	3,221	63,288
	JNL/Credit Suisse Commodity Securities Fund (0.5%) (a)	359	3,340
	JNL/Goldman Sachs Core Plus Bond Fund (14.6%) (a)	10,459	125,402
	JNL/Goldman Sachs Emerging Markets Debt Fund (8.1%) (a)	2,798	35,285
	JNL/Goldman Sachs Mid Cap Value Fund (8.0%) (a)	2,867	26,633
	JNL/JPMorgan International Value Fund (4.7%) (a)	3,286	23,593
	JNL/JPMorgan U.S. Government & Quality Bond Fund (12.1%) (a)	6,935	87,733
	JNL/Lazard Emerging Markets Fund (2.7%) (a)	2,224	23,422
	JNL/M&G Global Basics Fund (18.1%) (a)	1,833	23,131
	JNL/Mellon Capital Management Oil & Gas Sector Fund (1.2%) (a)	263	5,976
	JNL/Oppenheimer Global Growth Fund (1.3%) (a)	456	4,414
	JNL/PIMCO Real Return Fund (9.6%) (a)	11,044	129,662
	JNL/PIMCO Total Return Bond Fund (5.7%) (a)	11,321	142,192
	JNL/Select Value Fund (8.8%) (a)	4,659	76,262
	JNL/T. Rowe Price Established Growth Fund (5.5%) (a)	3,246	61,546
	JNL/T. Rowe Price Mid-Cap Growth Fund (3.0%) (a)	1,085	27,967
	JNL/T. Rowe Price Value Fund (6.4%) (a)	5,582	55,929
	JNL/T.Rowe Price Short-Term Bond Fund (22.3%) (a)	14,115	138,606
	Total Investment Funds (cost $1,142,181)		1,169,569
Total Investments - 100.0% (cost $1,142,181)			1,169,569
Other Assets and Liabilities, Net - 0.0%			208
Total Net Assets - 100%			$   1,169,777
JNL/S&P Managed Moderate Growth Fund (b)
INVESTMENT FUNDS - 99.8%
	JNL/AIM Global Real Estate Fund (2.1%) (a)	1,071	$          8,287
	JNL/AIM International Growth Fund (17.4%) (a)	8,213	77,037
	JNL/AIM Large Cap Growth Fund (21.5%) (a)	13,404	150,665
	JNL/Capital Guardian Global Diversified Research Fund (6.9%) (a)	1,198	25,563
	JNL/Capital Guardian International Small Cap Fund (9.4%) (a)	2,271	16,147
	JNL/Capital Guardian U.S. Growth Equity Fund (16.7%) (a)	5,793	113,830
	JNL/Credit Suisse Commodity Securities Fund (1.6%) (a)	1,192	11,085
	JNL/Eagle SmallCap Equity Fund (5.6%) (a)	1,017	17,597
	JNL/Franklin Templeton Small Cap Value Fund (4.5%) (a)	996	9,459
	JNL/Goldman Sachs Core Plus Bond Fund (18.4%) (a)	13,207	158,353
	JNL/Goldman Sachs Emerging Markets Debt Fund (14.1%) (a)	4,863	61,329
	JNL/Goldman Sachs Mid Cap Value Fund (17.0%) (a)	6,113	56,789
	JNL/JPMorgan International Value Fund (16.1%) (a)	11,261	80,852
	JNL/JPMorgan MidCap Growth Fund (4.7%) (a)	498	8,449
	JNL/JPMorgan U.S. Government & Quality Bond Fund (15.4%) (a)	8,840	111,829
	JNL/Lazard Emerging Markets Fund (6.8%) (a)	5,495	57,867
	JNL/M&G Global Basics Fund (18.8%) (a)	1,904	24,032
	JNL/Mellon Capital Management Oil & Gas Sector Fund (1.9%) (a)	413	9,392
	JNL/Oppenheimer Global Growth Fund (5.4%) (a)	1,881	18,187
	JNL/PIMCO Real Return Fund (12.7%) (a)	14,568	171,032
	JNL/PIMCO Total Return Bond Fund (4.9%) (a)	9,716	122,030
	JNL/Select Value Fund (22.8%) (a)	12,012	196,634
	JNL/T. Rowe Price Established Growth Fund (11.4%) (a)	6,671	126,476
	JNL/T. Rowe Price Mid-Cap Growth Fund (6.8%) (a)	2,486	64,093
	JNL/T. Rowe Price Value Fund (23.0%) (a)	20,170	202,102
	JNL/T.Rowe Price Short-Term Bond Fund (20.5%) (a)	12,970	127,365
	Total Investment Funds (cost $2,032,345)		2,026,481
Total Investments - 99.8% (cost $2,032,345)			2,026,481
Other Assets and Liabilities, Net - 0.2%			3,629
Total Net Assets - 100%			$   2,030,110
JNL/S&P Managed Growth Fund (b)
INVESTMENT FUNDS - 100.0%
	JNL/AIM Global Real Estate Fund (4.4%) (a)	2,270	$        17,573
	JNL/AIM International Growth Fund (15.5%) (a)	7,300	68,476
	JNL/AIM Large Cap Growth Fund (22.7%) (a)	14,173	159,301
	JNL/Capital Guardian Global Diversified Research Fund (7.4%) (a)	1,271	27,101
	JNL/Capital Guardian International Small Cap Fund (12.0%) (a)	2,885	20,512
	JNL/Capital Guardian U.S. Growth Equity Fund (17.1%) (a)	5,912	116,163
	JNL/Credit Suisse Commodity Securities Fund (1.6%) (a)	1,194	11,107
	JNL/Eagle Core Equity Fund (21.9%) (a)	4,950	34,498
	JNL/Eagle SmallCap Equity Fund (17.0%) (a)	3,087	53,432
	JNL/Franklin Templeton Small Cap Value Fund (7.8%) (a)	1,733	16,468
	JNL/Goldman Sachs Core Plus Bond Fund (3.8%) (a)	2,695	32,316
	JNL/Goldman Sachs Emerging Markets Debt Fund (11.5%) (a)	3,941	49,694
	JNL/Goldman Sachs Mid Cap Value Fund (15.9%) (a)	5,710	53,046
	JNL/JPMorgan International Value Fund (12.7%) (a)	8,900	63,900
	JNL/JPMorgan MidCap Growth Fund (8.3%) (a)	878	14,881
	JNL/JPMorgan U.S. Government & Quality Bond Fund (3.7%) (a)	2,128	26,918
	JNL/Lazard Emerging Markets Fund (5.8%) (a)	4,741	49,923
	JNL/M&G Global Basics Fund (26.1%) (a)	2,637	33,278
	JNL/Mellon Capital Management Oil & Gas Sector Fund (1.2%) (a)	265	6,033
	JNL/Oppenheimer Global Growth Fund (15.2%) (a)	5,233	50,606
	JNL/PIMCO Real Return Fund (6.3%) (a)	7,209	84,630
	JNL/PIMCO Total Return Bond Fund (2.5%) (a)	5,012	62,948
	JNL/Select Value Fund (21.0%) (a)	11,095	181,617
	JNL/T. Rowe Price Established Growth Fund (14.7%) (a)	8,634	163,694
	JNL/T. Rowe Price Mid-Cap Growth Fund (8.0%) (a)	2,917	75,190
	JNL/T. Rowe Price Value Fund (17.7%) (a)	15,533	155,637
	Total Investment Funds (cost $1,647,412)		1,628,942
Total Investments - 100.0% (cost $1,647,412)			1,628,942
Other Assets and Liabilities, Net - 0.0%			25
Total Net Assets - 100%			$   1,628,967
JNL/S&P Managed Aggressive Growth Fund (b)
INVESTMENT FUNDS - 100.0%
	JNL/AIM Global Real Estate Fund (1.6%) (a)	802	$          6,206
	JNL/AIM International Growth Fund (6.4%) (a)	3,002	28,158
	JNL/AIM Large Cap Growth Fund (8.4%) (a)	5,214	58,605
	JNL/Capital Guardian Global Diversified Research Fund (3.0%) (a)	514	10,956
	JNL/Capital Guardian International Small Cap Fund (6.5%) (a)	1,564	11,119
	JNL/Capital Guardian U.S. Growth Equity Fund (2.9%) (a)	989	19,433
	JNL/Credit Suisse Commodity Securities Fund (1.0%) (a)	745	6,924
	JNL/Eagle SmallCap Equity Fund (7.6%) (a)	1,379	23,873
	JNL/Franklin Templeton Small Cap Value Fund (5.8%) (a)	1,288	12,233
	JNL/Goldman Sachs Emerging Markets Debt Fund (3.0%) (a)	1,023	12,901
	JNL/Goldman Sachs Mid Cap Value Fund (8.9%) (a)	3,192	29,650
	JNL/JPMorgan International Value Fund (5.7%) (a)	3,957	28,413
	JNL/JPMorgan MidCap Growth Fund (6.0%) (a)	629	10,668
	JNL/Lazard Emerging Markets Fund (3.0%) (a)	2,434	25,633
	JNL/M&G Global Basics Fund (14.8%) (a)	1,497	18,891
	JNL/Mellon Capital Management Oil & Gas Sector Fund (0.8%) (a)	181	4,117
	JNL/Oppenheimer Global Growth Fund (10.0%) (a)	3,467	33,524
	JNL/PIMCO Real Return Fund (2.2%) (a)	2,486	29,185
	JNL/PPM America High Yield Bond Fund (2.7%) (a)	2,698	17,318
	JNL/Select Value Fund (9.9%) (a)	5,195	85,043
	JNL/T. Rowe Price Established Growth Fund (6.6%) (a)	3,866	73,306
	JNL/T. Rowe Price Mid-Cap Growth Fund (3.3%) (a)	1,218	31,394
	JNL/T. Rowe Price Value Fund (6.9%) (a)	6,089	61,008
	Total Investment Funds (cost $663,562)		638,558
Total Investments - 100.0% (cost $663,562)			638,558
Other Assets and Liabilities, Net - 0.0%			(173)
Total Net Assets - 100%			$      638,385
JNL/S&P Disciplined Moderate Fund (b)
INVESTMENT FUNDS - 99.8%
	JNL/Goldman Sachs Emerging Markets Debt Fund (1.4%) (a)	470	$          5,932
	JNL/Mellon Capital Management Bond Index Fund (4.5%) (a)	3,694	42,744
	JNL/Mellon Capital Management International Index Fund (3.9%) (a)	2,696	32,241
	JNL/Mellon Capital Management JNL Optimized 5 Fund (2.7%) (a)	1,505	12,221
	JNL/Mellon Capital Management S&P 400 MidCap Index Fund (1.3%) (a)	579	7,042
	JNL/Mellon Capital Management S&P 500 Index Fund (7.4%) (a)	7,997	78,935
	JNL/Mellon Capital Management Small Cap Index Fund (0.9%) (a)	454	4,952
	JNL/PIMCO Real Return Fund (1.9%) (a)	2,175	25,530
	Total Investment Funds (cost $197,650)		209,597
NON-U.S. GOVERNMENT AGENCY ASSET-BACKED SECURITIES - 0.0%
	Sigma Finance, Inc. (d) (f) (u)	$                  14	1
	Total Non-U.S. Government Agency Asset-Backed Securities (cost $0)		1
Total Investments - 99.8% (cost $197,650)			209,598
Other Assets and Liabilities, Net - 0.2%			383
Total Net Assets - 100%			$      209,981
JNL/S&P Disciplined Moderate Growth Fund (b)
INVESTMENT FUNDS - 99.8%
	JNL/Goldman Sachs Emerging Markets Debt Fund (1.6%) (a)	538	$          6,779
	JNL/Mellon Capital Management 25 Fund (3.5%) (a)	1,360	15,974
	JNL/Mellon Capital Management Bond Index Fund (1.5%) (a)	1,182	13,675
	JNL/Mellon Capital Management International Index Fund (6.0%) (a)	4,116	49,222
	JNL/Mellon Capital Management JNL Optimized 5 Fund (3.5%) (a)	1,953	15,861
	JNL/Mellon Capital Management S&P 400 MidCap Index Fund (3.9%) (a)	1,720	20,914
	JNL/Mellon Capital Management S&P 500 Index Fund (10.2%) (a)	11,103	109,584
	JNL/Mellon Capital Management Small Cap Index Fund (1.9%) (a)	989	10,803
	JNL/PIMCO Real Return Fund (1.3%) (a)	1,489	17,475
	Total Investment Funds (cost $236,525)		260,287
NON-U.S. GOVERNMENT AGENCY ASSET-BACKED SECURITIES - 0.0%
	Sigma Finance, Inc. (d) (f) (u)	$                  11	-
	Total Non-U.S. Government Agency Asset-Backed Securities (cost $0)		-
Total Investments - 99.8% (cost $236,525)			260,287
Other Assets and Liabilities, Net - 0.2%			633
Total Net Assets - 100%			$      260,920
JNL/S&P Disciplined Growth Fund (b)
INVESTMENT FUNDS - 99.9%
	JNL/Goldman Sachs Emerging Markets Debt Fund (0.4%) (a)	145	$          1,830
	JNL/Mellon Capital Management 25 Fund (1.3%) (a)	495	5,821
	JNL/Mellon Capital Management Bond Index Fund (0.4%) (a)	312	3,615
	JNL/Mellon Capital Management International Index Fund (2.8%) (a)	1,913	22,877
	JNL/Mellon Capital Management JNL Optimized 5 Fund (1.7%) (a)	976	7,928
	JNL/Mellon Capital Management S&P 400 MidCap Index Fund (1.4%) (a)	609	7,405
	JNL/Mellon Capital Management S&P 500 Index Fund (3.5%) (a)	3,811	37,616
	JNL/Mellon Capital Management Small Cap Index Fund (0.5%) (a)	280	3,060
	JNL/PIMCO Real Return Fund (0.2%) (a)	243	2,849
	Total Investment Funds (cost $81,852)		93,001
NON-U.S. GOVERNMENT AGENCY ASSET-BACKED SECURITIES - 0.0%
	Sigma Finance, Inc. (d) (f) (u)	$                  13	1
	Total Non-U.S. Government Agency Asset-Backed Securities (cost $0)		1
Total Investments - 99.9% (cost $81,852)			93,002
Other Assets and Liabilities, Net - 0.1%			103
Total Net Assets - 100%			$        93,105
JNL/S&P Competitive Advantage Fund
COMMON STOCKS - 100.9%
CONSUMER DISCRETIONARY - 32.3%
	Apollo Group Inc. - Class A (c)	163	$          9,973
	Best Buy Co. Inc.	208	8,838
	Coach Inc.	256	10,135
	Family Dollar Stores Inc.	295	10,785
	Gap Inc.	413	9,555
	Scripps Networks Interactive Inc.	230	10,214
	Sherwin-Williams Co.	146	9,888
	Starbucks Corp. (c)	418	10,147
	TJX Cos. Inc.	236	10,024
			89,559
CONSUMER STAPLES - 9.9%
	Kimberly-Clark Corp.	135	8,510
	PepsiCo Inc.	142	9,413
	Sysco Corp.	329	9,713
			27,636
ENERGY - 9.6%
	Consol Energy Inc.	194	8,258
	Diamond Offshore Drilling Inc. (e)	89	7,943
	FMC Technologies Inc. (c)	161	10,410
			26,611
FINANCIALS - 3.3%
	Federated Investors Inc. - Class B (e)	348	9,172
HEALTH CARE - 10.2%
	Cardinal Health Inc.	280	10,085
	CR Bard Inc.	109	9,468
	Eli Lilly & Co.	245	8,877
			28,430
INDUSTRIALS - 10.4%
	CH Robinson Worldwide Inc.	160	8,921
	Fluor Corp.	212	9,850
	United Parcel Service Inc. - Class B	157	10,112
			28,883
INFORMATION TECHNOLOGY - 19.2%
	Automatic Data Processing Inc.	207	9,195
	Dell Inc. (c)	656	9,851
	Microsoft Corp.	301	8,819
	Paychex Inc.	285	8,750
	Teradata Corp. (c)	296	8,553
	Total System Services Inc. (e)	515	8,066
			53,234
MATERIALS - 6.0%
	Ecolab Inc.	199	8,737
	Monsanto Co.	110	7,826
			16,563
	Total Common Stocks (cost $251,532)		280,088
NON-U.S. GOVERNMENT AGENCY ASSET-BACKED SECURITIES - 0.0%
	Sigma Finance, Inc. (d) (f) (u)	$                307	13
	Total Non-U.S. Government Agency Asset-Backed Securities (cost $307)		13
SHORT TERM INVESTMENTS - 6.4%
Mutual Funds - 0.6%
	JNL Money Market Fund, 0.03% (a) (h)	1,703	1,703
Securities Lending Collateral - 5.8%
	Securities Lending Cash Collateral Fund LLC, 0.24% (a) (h)	13,408	13,408
	Securities Lending Liquidating Fund LLC, 0.38% (a) (h)	2,526	2,526
			15,934
	Total Short Term Investments (cost $17,637)		17,637
Total Investments - 107.3% (cost $269,476)			297,738
Other Assets and Liabilities, Net -  (7.3%)			(20,244)
Total Net Assets - 100%			$      277,494
JNL/S&P Dividend Income & Growth Fund
COMMON STOCKS - 99.0%
CONSUMER DISCRETIONARY - 10.4%
	Home Depot Inc.	314	$        10,158
	McDonald's Corp.	139	9,246
	VF Corp.	119	9,571
			28,975
CONSUMER STAPLES - 10.1%
	Hershey Co.	246	10,551
	Kimberly-Clark Corp.	132	8,329
	Sysco Corp.	321	9,457
			28,337
ENERGY - 8.8%
	Chevron Corp.	112	8,495
	Exxon Mobil Corp.	116	7,749
	Marathon Oil Corp.	268	8,471
			24,715
FINANCIALS - 11.1%
	AvalonBay Communities Inc.	120	10,320
	Cincinnati Financial Corp.	346	9,999
	M&T Bank Corp. (e)	134	10,638
			30,957
HEALTH CARE - 9.5%
	Bristol-Myers Squibb Co.	357	9,527
	Merck & Co. Inc.	239	8,913
	Pfizer Inc.	469	8,050
			26,490
INDUSTRIALS - 10.4%
	Lockheed Martin Corp.	112	9,319
	Pitney Bowes Inc.	380	9,299
	Snap-On Inc.	240	10,407
			29,025
INFORMATION TECHNOLOGY - 10.1%
	Automatic Data Processing Inc.	202	8,970
	Harris Corp.	196	9,289
	Intel Corp.	450	10,017
			28,276
MATERIALS - 9.3%
	Air Products & Chemicals Inc.	105	7,793
	Bemis Co. Inc.	299	8,584
	PPG Industries Inc.	148	9,649
			26,026
TELECOMMUNICATION SERVICES - 9.1%
	AT&T Inc.	325	8,409
	CenturyTel Inc.	246	8,725
	Verizon Communications Inc.	272	8,445
			25,579
UTILITIES - 10.2%
	Consolidated Edison Inc.	204	9,102
	Integrys Energy Group Inc. (e)	222	10,527
	Southern Co.	271	8,996
			28,625
	Total Common Stocks (cost $257,454)		277,005
NON-U.S. GOVERNMENT AGENCY ASSET-BACKED SECURITIES - 0.0%
	Sigma Finance, Inc. (d) (f) (u)	$                311	13
	Total Non-U.S. Government Agency Asset-Backed Securities (cost $311)		13
SHORT TERM INVESTMENTS - 5.8%
Mutual Funds - 1.1%
	JNL Money Market Fund, 0.03% (a) (h)	3,142	3,142
Securities Lending Collateral - 4.7%
	Securities Lending Cash Collateral Fund LLC, 0.24% (a) (h)	9,903	9,903
	Securities Lending Liquidating Fund LLC, 0.38% (a) (h)	3,043	3,043
			12,946
	Total Short Term Investments (cost $16,088)		16,088
Total Investments - 104.8% (cost $273,853)			293,106
Other Assets and Liabilities, Net -  (4.8%)			(13,437)
Total Net Assets - 100%			$      279,669

JNL/S&P Intrinsic Value Fund
COMMON STOCKS - 99.3%
CONSUMER DISCRETIONARY - 23.7%
	Comcast Corp. - Class A (e)		592	$        11,140
	Gap Inc.		400	9,240
	H&R Block Inc.		425	7,567
	Leggett & Platt Inc.		443	9,597
	Limited Brands Inc. (e)		505	12,422
	Sherwin-Williams Co.		143	9,645
	Target Corp.		190	9,970
				69,581
CONSUMER STAPLES - 13.3%
	Hormel Foods Corp.		232	9,728
	Reynolds American Inc.		174	9,415
	Safeway Inc.		389	9,683
	Sara Lee Corp.		723	10,076
				38,902
HEALTH CARE - 23.1%
	Aetna Inc.		297	10,434
	AmerisourceBergen Corp.		356	10,309
	Amgen Inc. (c)		154	9,198
	Coventry Health Care Inc. (c)		388	9,595
	Laboratory Corp. of America Holdings (c)		119	9,020
	McKesson Corp.		141	9,249
	UnitedHealth Group Inc.		309	10,083
				67,888
INDUSTRIALS - 23.6%
	Dun & Bradstreet Corp.		111	8,277
	Equifax Inc.		303	10,857
	Lockheed Martin Corp.		112	9,337
	Masco Corp. (e)		637	9,886
	Northrop Grumman Systems Corp.		160	10,510
	Parker Hannifin Corp.		162	10,480
	Raytheon Co.		171	9,780
				69,127
INFORMATION TECHNOLOGY - 12.0%
	Fiserv Inc. (c)		185	9,392
	Harris Corp.		194	9,225
	International Business Machines Corp.		69	8,822
	Total System Services Inc.		501	7,838
				35,277
UTILITIES - 3.6%
	Integrys Energy Group Inc.		224	10,604
	Total Common Stocks (cost $262,609)			291,379
NON-U.S. GOVERNMENT AGENCY ASSET-BACKED SECURITIES - 0.0%
	Sigma Finance, Inc. (d) (f) (u)		$                564	24
	Total Non-U.S. Government Agency Asset-Backed Securities (cost $564)			24
SHORT TERM INVESTMENTS - 8.6%
Mutual Funds - 1.1%
	JNL Money Market Fund, 0.03% (a) (h)		3,346	3,346
Securities Lending Collateral - 7.5%
	Securities Lending Cash Collateral Fund LLC, 0.24% (a) (h)		18,691	18,691
	Securities Lending Liquidating Fund LLC, 0.38% (a) (h)		3,273	3,273
				21,964
	Total Short Term Investments (cost $25,310)			25,310
Total Investments - 107.9% (cost $288,483)				316,713
Other Assets and Liabilities, Net -  (7.9%)				(23,272)
Total Net Assets - 100%				$      293,441
JNL/S&P Total Yield Fund
COMMON STOCKS - 99.0%
CONSUMER DISCRETIONARY - 29.7%
	Comcast Corp. - Class A		490	$          9,220
	DR Horton Inc. (e)		707	8,902
	Gannett Co. Inc.		732	12,095
	Leggett & Platt Inc.		369	7,976
	Mattel Inc.		368	8,375
	Meredith Corp. (e)		279	9,605
	Pulte Homes Inc. (c) (e)		791	8,896
	Washington Post Co.		18	7,917
				72,986
CONSUMER STAPLES - 15.9%
	Dean Foods Co. (c)		454	7,130
	HJ Heinz Co.		170	7,758
	JM Smucker Co.		123	7,385
	Safeway Inc.		322	8,014
	SUPERVALU Inc.		515	8,590
				38,877
FINANCIALS - 24.8%
	American Express Co.		177	7,313
	American International Group Inc. (c) (e)		238	8,121
	Bank of America Corp.		463	8,266
	Capital One Financial Corp.		192	7,957
	Goldman Sachs Group Inc.		44	7,504
	Morgan Stanley		233	6,822
	ProLogis		548	7,230
	State Street Corp.		172	7,780
				60,993
INDUSTRIALS - 15.9%
	Caterpillar Inc.		123	7,716
	General Electric Co.		455	8,287
	PACCAR Inc.		194	8,388
	Pitney Bowes Inc.		318	7,786
	Ryder System Inc.		178	6,898
				39,075
INFORMATION TECHNOLOGY - 9.9%
	Fiserv Inc. (c)		154	7,841
	International Business Machines Corp.		58	7,398
	Xerox Corp.		936	9,130
				24,369
MATERIALS - 2.8%
	International Paper Co.		282	6,929
	Total Common Stocks (cost $214,682)			243,229
NON-U.S. GOVERNMENT AGENCY ASSET-BACKED SECURITIES - 0.0%
	Sigma Finance, Inc. (d) (f) (u)		$                730	31
	Total Non-U.S. Government Agency Asset-Backed Securities (cost $730)			31
SHORT TERM INVESTMENTS - 8.9%
Mutual Funds - 1.2%
	JNL Money Market Fund, 0.03% (a) (h)		2,955	2,955
Securities Lending Collateral - 7.7%
	Securities Lending Cash Collateral Fund LLC, 0.24% (a) (h)		11,186	11,186
	Securities Lending Liquidating Fund LLC, 0.38% (a) (h)		7,636	7,636
				18,822
	Total Short Term Investments (cost $21,777)			21,777
Total Investments - 107.9% (cost $237,189)				265,037
Other Assets and Liabilities, Net -  (7.9%)				(19,399)
Total Net Assets - 100%				$      245,638
JNL/S&P 4 Fund (b)
INVESTMENT FUNDS - 100.0%
	JNL/S&P Competitive Advantage Fund (61.0%) (a)		16,589	$      171,200
	JNL/S&P Dividend Income & Growth Fund (62.8%) (a)		19,234	175,033
	JNL/S&P Intrinsic Value Fund (62.2%) (a)		17,393	182,453
	JNL/S&P Total Yield Fund (74.6%) (a)		18,668	182,950
	Total Investment Funds (cost $573,580)			711,636
Total Investments - 100.0% (cost $573,580)				711,636
Other Assets and Liabilities, Net - 0.0%				262
Total Net Assets - 100%				$      711,898
JNL/Select Balanced Fund
COMMON STOCKS - 63.9%
CONSUMER DISCRETIONARY - 4.4%
	Comcast Corp. - Class A		467	$          8,782
	Honda Motor Co. Ltd. - ADR		97	3,419
	Limited Brands Inc.		155	3,816
	Lowe's Cos. Inc.		251	6,079
	Staples Inc.		268	6,278
	Time Warner Inc.		114	3,579
	Walt Disney Co. (e)		157	5,484
				37,437
CONSUMER STAPLES - 6.5%
	CVS Caremark Corp.		145	5,301
	Kimberly-Clark Corp.		75	4,702
	PepsiCo Inc.		141	9,322
	Philip Morris International Inc.		173	8,998
	Procter & Gamble Co.		94	5,916
	Smithfield Foods Inc. (c)		328	6,799
	Unilever NV - NYS		177	5,350
	Wal-Mart Stores Inc.		163	9,063
				55,451
ENERGY - 8.9%
	Anadarko Petroleum Corp.		88	6,438
	Baker Hughes Inc. (e)		135	6,305
	Chevron Corp.		241	18,267
	EnCana Corp.		186	5,782
	Exxon Mobil Corp.		257	17,187
	Marathon Oil Corp.		284	8,995
	Occidental Petroleum Corp.		54	4,539
	Total SA - ADR		139	8,036
				75,549
FINANCIALS - 10.9%
	ACE Ltd.		155	8,127
	Bank of America Corp.		596	10,642
	Chubb Corp.		132	6,839
	Goldman Sachs Group Inc.		21	3,616
	Hartford Financial Services Group Inc.		121	3,447
	JPMorgan Chase & Co.		359	16,061
	Marsh & McLennan Cos. Inc.		154	3,770
	MetLife Inc.		251	10,891
	PNC Financial Services Group Inc. (e)		106	6,346
	UBS AG (c)		270	4,402
	Wells Fargo & Co.		600	18,675
				92,816
HEALTH CARE - 8.2%
	Bristol-Myers Squibb Co.		243	6,483
	Cardinal Health Inc.		169	6,082
	Eli Lilly & Co.		311	11,250
	Johnson & Johnson		157	10,210
	Medtronic Inc.		186	8,394
	Merck & Co. Inc.		345	12,874
	Pfizer Inc.		695	11,924
	UnitedHealth Group Inc.		91	2,962
				70,179
INDUSTRIALS - 9.4%
	Avery Dennison Corp. (e)		80	2,913
	Caterpillar Inc. (e)		60	3,740
	Continental Airlines Inc. - Class B (c)		200	4,383
	Cooper Industries Plc		128	6,132
	Deere & Co.		140	8,330
	FedEx Corp.		48	4,511
	General Dynamics Corp.		87	6,693
	General Electric Co.		341	6,203
	Honeywell International Inc.		118	5,337
	Lockheed Martin Corp.		81	6,749
	Pentair Inc.		190	6,761
	Siemens AG - ADR		56	5,598
	United Parcel Service Inc. - Class B		132	8,515
	Waste Management Inc.		133	4,565
				80,430
INFORMATION TECHNOLOGY - 7.5%
	Accenture Plc		154	6,452
	Analog Devices Inc.		147	4,245
	Automatic Data Processing Inc.		131	5,830
	Avnet Inc. (c)		122	3,666
	Cisco Systems Inc. (c)		207	5,375
	Corning Inc.		231	4,671
	Hewlett-Packard Co.		105	5,554
	International Business Machines Corp.		123	15,736
	Microsoft Corp.		229	6,706
	Texas Instruments Inc.		251	6,132
				64,367
MATERIALS - 2.8%
	Agrium Inc.		64	4,492
	Barrick Gold Corp.		127	4,885
	BHP Billiton Plc - ADR		58	3,948
	Owens-Illinois Inc. (c)		159	5,647
	Sonoco Products Co.		168	5,185
				24,157
TELECOMMUNICATION SERVICES - 2.3%
	AT&T Inc.		746	19,287
UTILITIES - 3.0%
	Dominion Resources Inc. (e)		251	10,298
	Exelon Corp.		127	5,546
	PG&E Corp.		154	6,511
	Xcel Energy Inc.		158	3,353
				25,708
	Total Common Stocks (cost $478,574)			545,381
NON-U.S. GOVERNMENT AGENCY ASSET-BACKED SECURITIES - 0.9%
	Banc of America Commercial Mortgage Inc. REMIC, 5.12%, 07/11/43		$                750	784
	Banc of America Commercial Mortgage Inc. REMIC, 5.93%, 05/10/45 (i)		350	363
	Banc of America Commercial Mortgage Inc. REMIC, 5.35%, 09/10/47 (i)		1,200	1,249
	Bank of America-First Union NB Commercial Mortgage REMIC, 5.46%, 04/11/37		495	514
	CarMax Auto Owner Trust, 4.79%, 02/15/13		500	525
	Citibank Credit Card Issuance Trust, 5.65%, 09/20/19		750	830
	Continental Airlines Inc. Pass Through Trust - Class A, 5.98%, 04/19/22		280	275
	GE Capital Commercial Mortgage Corp. REMIC, 6.03%, 08/11/33		36	36
	GS Mortgage Securities Corp. II REMIC, 4.75%, 07/10/39		900	909
	JPMorgan Chase Commercial Mortgage Securities Corp. REMIC, 5.62%, 03/11/39 (i)		415	430
	JPMorgan Chase Commercial Mortgage Securities Corp. REMIC, 5.54%, 09/11/41		600	618
	Marriott Vacation Club Trust, 5.36%, 10/20/28 (t)		42	43
	Merrill Lynch Mortgage Trust REMIC, 5.05%, 07/12/38 (i)		500	510
	Morgan Stanley Dean Witter Capital I REMIC, 5.98%, 01/15/39		560	595
	Sigma Finance, Inc. (d) (f) (u)		1,046	44
	Southwest Airlines Co., 6.15%, 08/01/22		231	235
	Total Non-U.S. Government Agency Asset-Backed Securities (cost $8,650)			7,960
CORPORATE BONDS AND NOTES - 8.2%
CONSUMER DISCRETIONARY - 0.5%
	CBS Corp., 5.75%, 04/15/20		105	105
	Comcast Corp., 6.55%, 07/01/39		375	388
	COX Communications Inc., 5.45%, 12/15/14		500	540
	Daimler Finance North America LLC, 8.50%, 01/18/31 (e)		300	366
	Group Televisa, 6.63%, 01/15/40		375	374
	Lowe's Cos. Inc., 6.65%, 09/15/37		420	471
	News America Inc., 5.65%, 08/15/20 (e)		195	205
	Staples Inc., 9.75%, 01/15/14 (l)		335	406
	Time Warner Cable Inc., 5.85%, 05/01/17		270	289
	Time Warner Cable Inc., 5.00%, 02/01/20		500	493
	Viacom Inc., 6.88%, 04/30/36		670	710
				4,347
CONSUMER STAPLES - 0.4%
	Anheuser-Busch InBev Worldwide Inc., 6.88%, 11/15/19 (t)		680	781
	Anheuser-Busch InBev Worldwide Inc., 5.38%, 01/15/20		170	175
	Cargill Inc., 5.60%, 09/15/12 (t)		485	525
	CVS Caremark Corp., 6.13%, 08/15/16		400	441
	CVS Caremark Corp., 5.75%, 06/01/17		245	264
	Kraft Foods Inc., 6.25%, 06/01/12		825	903
				3,089
ENERGY - 0.3%
	ConocoPhillips, 4.60%, 01/15/15		500	536
	EOG Resources Inc., 5.63%, 06/01/19		190	204
	Motiva Enterprises LLC, 5.75%, 01/15/20 (e) (t)		75	79
	San Diego Gas & Electric Co., 6.00%, 06/01/39		100	106
	Shell International Finance BV, 3.25%, 09/22/15 (e)		550	553
	Shell International Finance BV, 4.38%, 03/25/20		675	669
	StatoilHydro ASA, 5.25%, 04/15/19		215	225
				2,372
FINANCIALS - 5.1%
	Ace Capital Trust II, 9.70%, 04/01/30		525	612
	American Express Centurion Bank, 6.00%, 09/13/17		850	912
	Ameriprise Financial Inc., 5.30%, 03/15/20		170	172
	ANZ National International Ltd., 2.38%, 12/21/12 (t)		260	261
	ASIF Global Financing XIX, 4.90%, 01/17/13 (t)		500	506
	AXA SA, 8.60%, 12/15/30 (e)		425	515
	Bank of America Corp., 6.50%, 08/01/16		600	649
	Bank of America Corp., 5.42%, 03/15/17		700	692
	Bank of New York Mellon, 4.30%, 05/15/14		240	253
	Bank of New York Mellon, 5.45%, 05/15/19 (e)		500	530
	Barclays Bank Plc, 6.75%, 5/22/19		320	354
	Capital One Capital IV, 6.75%, 02/17/37 (i)		250	216
	CDP Financial, 4.40%, 11/25/19 (t)		600	588
	Charles Schwab Corp., 4.95%, 06/01/14		190	203
	Citigroup Inc., 5.50%, 10/15/14 (e)		515	533
	Citigroup Inc., 8.50%, 05/22/19 (e)		400	467
	Citigroup Inc., 8.13%, 07/15/39		115	133
	Credit Suisse USA Inc., 4.88%, 01/15/15 (e)		345	366
	Deutsche Bank AG, 3.45%, 03/30/15		500	497
	Discover Financial Services, 6.45%, 06/12/17		90	89
	Eaton Vance Corp., 6.50%, 10/02/17		160	172
	EDP Finance BV, 4.90%, 10/01/19 (t)		390	369
	ENEL Finance International SA, 5.13%, 10/07/19 (t)		350	346
	ENEL Finance International SA, 6.80%, 09/15/37 (t)		235	247
	Everest Reinsurance Holdings Inc., 5.40%, 10/15/14		215	221
	General Electric Capital Corp., 3.00%, 12/09/11		5,000	5,167
	General Electric Capital Corp., 5.88%, 02/15/12		1,000	1,075
	General Electric Capital Corp., 5.90%, 05/13/14 (e)		250	275
	Goldman Sachs Group Inc., 1.63%, 07/15/11		4,000	4,045
	Goldman Sachs Group Inc., 5.63%, 01/15/17		1,350	1,383
	Hartford Financial Services Group Inc., 6.10%, 10/01/41		700	625
	HCP Inc., 6.00%, 01/30/17 (e)		365	364
	HSBC Bank USA, 5.88%, 11/01/34		250	243
	HSBC Finance Corp., 6.38%, 11/27/12		500	548
	John Deere Capital Corp., 2.95%, 03/09/15 (e)		180	180
	JPMorgan Chase & Co., 3.70%, 01/20/15 (e)		600	604
	JPMorgan Chase & Co., 6.30%, 04/23/19		475	524
	JPMorgan Chase & Co., 6.40%, 05/15/38		425	459
	Kimco Realty Corp., 5.78%, 03/15/16		345	356
	Liberty Mutual Insurance Co., 7.88%, 10/15/26		475	495
	Liberty Property LP, 6.63%, 10/01/17		225	228
	Lloyds TSB Bank Plc., 4.38%, 01/12/15 (t)		625	616
	Metropolitan Life Global Funding I, 2.88%, 09/17/12 (t)		600	610
	Morgan Stanley, 2.00%, 09/22/11		5,000	5,084
	Morgan Stanley, 6.00%, 05/13/14		400	432
	Morgan Stanley, 5.38%, 10/15/15		170	177
	Morgan Stanley, 5.45%, 01/09/17		700	710
	National Rural Utilities Cooperative Finance Corp., 5.45%, 02/01/18 (e)		1,000	1,056
	Nomura Holdings Inc., 5.00%, 03/04/15		280	286
	Nordea Bank AB, 3.70%, 11/13/14 (t)		345	348
	PNC Funding Corp., 5.40%, 06/10/14		525	564
	ProLogis, 5.63%, 11/15/16		400	387
	Prudential Financial Inc., 5.50%, 03/15/16		425	440
	Rabobank Nederland NV, 3.20%, 03/11/15 (t)		750	744
	Realty Income Corp., 6.75%, 08/15/19		355	370
	Royal Bank of Scotland Plc, 4.88%, 03/16/15		500	500
	Simon Property Group LP, 4.20%, 02/01/15 (e)		600	602
	Simon Property Group LP, 6.10%, 05/01/16		325	342
	Sovereign Bank, 8.75%, 05/30/18		450	505
	Svenska Handelsbanken AB, 4.88%, 06/10/14 (t)		700	737
	U.S. Bank NA, 4.95%, 10/30/14 (e)		450	479
	US Bancorp, 2.88%, 11/20/14		500	494
	Wachovia Corp., 5.25%, 08/01/14 (e)		500	525
	WEA Finance LLC, 5.70%, 10/01/16 (t)		100	103
	WEA Finance LLC, 7.13%, 04/15/18 (t)		350	379
	Wells Fargo & Co., 3.75%, 10/01/14		575	582
				43,546
HEALTH CARE - 0.2%
	Amgen Inc., 6.15%, 06/01/18		425	478
	Express Scripts Inc., 6.25%, 06/15/14		160	177
	Merck & Co. Inc., 4.00%, 06/30/15		370	388
	Schering-Plough Corp., 5.30%, 12/01/13 (l)		450	500
	Thermo Fisher Scientific Inc., 3.25%, 11/18/14 (t)		140	138
	UnitedHealth Group Inc., 5.50%, 11/15/12		379	410
				2,091
INDUSTRIALS - 0.2%
	Deere & Co., 4.38%, 10/16/19		185	184
	Pitney Bowes Inc., 5.75%, 09/15/17 (e)		385	415
	Siemens Financieringsmaatschappij NV, 5.75%, 10/17/16 (t)		675	735
	Southwest Airlines Co., 5.75%, 12/15/16 (e)		500	511
				1,845
INFORMATION TECHNOLOGY - 0.4%
	Cisco Systems Inc., 4.45%, 01/15/20		500	497
	Dell Inc., 5.88%, 06/15/19 (e)		460	498
	Fiserv Inc., 6.13%, 11/20/12		450	490
	Hewlett-Packard Co., 5.25%, 03/01/12		350	376
	Intuit Inc., 5.40%, 03/15/12		550	583
	Oracle Corp., 6.13%, 07/08/39		500	532
	Xerox Corp., 8.25%, 05/15/14		125	145
				3,121
MATERIALS - 0.1%
	Potash Corp. of Saskatchewan Inc., 4.88%, 03/30/20 (e)		675	676
TELECOMMUNICATION SERVICES - 0.5%
	AT&T Inc., 6.45%, 06/15/34		480	490
	AT&T Inc., 6.80%, 05/15/36		150	159
	BellSouth Corp., 6.55%, 06/15/34		300	306
	BellSouth Telecommunications Inc., 7.00%, 12/01/95		70	70
	Deutsche Telekom International Finance BV, 8.75%, 06/15/30 (l)		275	352
	France Telecom SA, 4.38%, 07/08/14 (e)		230	242
	Telecom Italia Capital SA, 5.25%, 10/01/15		675	691
	Verizon Global Funding Corp., 7.75%, 12/01/30		500	595
	Verizon Wireless Capital LLC, 5.55%, 02/01/14 (e)		500	546
	Vodafone Group Plc, 5.45%, 06/10/19		600	623
				4,074
UTILITIES - 0.5%
	Abu Dhabi National Energy Co., 5.62%, 10/25/12 (t)		250	259
	Abu Dhabi National Energy Co., 5.88%, 10/27/16 (t)		195	198
	Atmos Energy Corp., 6.35%, 06/15/17		385	414
	Colorado Public Service Co., 5.13%, 06/01/19		500	520
	Consolidated Edison Co. of New York Inc., 5.30%, 12/01/16		250	272
	Indianapolis Power & Light Co. (insured by AMBAC Assurance Corp.), 6.60%, 06/01/37 (t)		500	525
	MidAmerican Energy Co., 5.65%, 07/15/12		500	540
	MidAmerican Energy Holdings Co., 6.13%, 04/01/36 (e)		350	353
	Niagara Mohawk Power Corp., 3.55%, 10/01/14 (t)		415	417
	Pennsylvania Electric Co., 5.20%, 04/01/20		600	601
	PPL Electric Utilities Corp., 6.25%, 05/15/39		60	64
	Southern California Edison Co., 5.55%, 01/15/37		500	492
				4,655
	Total Corporate Bonds and Notes (cost $67,612)			69,816
GOVERNMENT AND AGENCY OBLIGATIONS - 19.7%
GOVERNMENT SECURITIES - 10.7%
Municipals - 0.8%
	Bay Area Toll Authority, 6.26%, 04/01/49		600	600
	Dallas Area Rapid Transit (insured by AMBAC Assurance Corp.), 6.00%, 12/01/44		650	683
	Illinois State Toll Highway Municipal Bond, 6.18%, 01/01/34		565	577
	Los Angeles Unified School District, 5.75%, 07/01/34		800	732
	Maryland Transportation Authority, 5.89%, 07/01/43		265	272
	Massachusetts School Building Authority, 5.72%, 08/15/39		500	500
	New Jersey State Turnpike Authority, 7.41%, 01/01/40		205	239
	New York, NJ, Port Authority Revenue, 5.86%, 12/01/24		180	185
	New York, NJ, Port Authority Revenue, 6.04%, 12/01/29		105	107
	North Texas Tollway Authority, 6.72%, 01/01/49		600	629
	Oregon School Boards Association (insured by AMBAC Assurance Corp.), 4.76%, 06/30/28		420	362
	San Antonio Texas Electric & Gas, 5.99%, 02/01/20		135	142
	University of California, Series F, 6.58%, 05/15/49		370	376
	University of California Build America Bond, 5.77%, 05/15/43		615	594
	University of Missouri, 5.96%, 11/01/39		360	371
				6,369
Sovereign - 0.7%
	Financing Corp., 0.00%, 12/06/13 (j)		275	248
	Financing Corp., 0.00%, 12/27/13 (j)		220	197
	Province of Ontario, Canada, 4.00%, 10/07/19 (e)		550	540
	Qatar Government International Bond, 4.00%, 01/20/15 (t)		425	433
	Republic of Hungary, 6.25%, 01/29/20		320	340
	Resolution Funding Corp. - Interest Only Strip, 0.00%, 04/15/14		2,550	2,296
	Tennessee Valley Authority, 4.38%, 06/15/15 (e)		1,900	2,021
				6,075
U.S. Treasury Securities - 9.2%
	U.S. Treasury Bond, 4.25%, 05/15/39		1,000	927
	U.S. Treasury Bond, 4.38%, 11/15/39		6,710	6,345
	U.S. Treasury Note, 2.38%, 08/31/10		2,000	2,018
	U.S. Treasury Note, 1.00%, 07/31/11		9,300	9,348
	U.S. Treasury Note, 1.00%, 09/30/11		36,500	36,647
	U.S. Treasury Note, 4.50%, 03/31/12		2,225	2,379
	U.S. Treasury Note, 1.38%, 05/15/12 (e)		13,000	13,080
	U.S. Treasury Note, 4.75%, 05/31/12		2,000	2,156
	U.S. Treasury Note, 3.13%, 09/30/13		2,500	2,607
	U.S. Treasury Note, 1.88%, 02/28/14		2,000	1,983
	U.S. Treasury Note, 3.88%, 05/15/18		1,000	1,025
				78,515
U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES - 9.0%
Federal Home Loan Mortgage Corp. - 4.1%
	Federal Home Loan Mortgage Corp., 3.50%, 05/29/13		5,000	5,250
	Federal Home Loan Mortgage Corp., 5.50%, 10/01/16		138	147
	Federal Home Loan Mortgage Corp., 6.00%, 04/01/17		105	113
	Federal Home Loan Mortgage Corp., 5.00%, 10/01/17		127	136
	Federal Home Loan Mortgage Corp., 6.50%, 11/01/17		44	48
	Federal Home Loan Mortgage Corp., 5.00%, 01/01/18		55	59
	Federal Home Loan Mortgage Corp., 5.50%, 01/01/18		1	1
	Federal Home Loan Mortgage Corp., 5.00%, 04/01/18		71	76
	Federal Home Loan Mortgage Corp., 4.50%, 05/01/18		84	89
	Federal Home Loan Mortgage Corp., 5.00%, 05/01/18		142	151
	Federal Home Loan Mortgage Corp., 4.50%, 09/01/18		111	116
	Federal Home Loan Mortgage Corp., 4.50%, 11/01/18		148	155
	Federal Home Loan Mortgage Corp., 4.50%, 11/01/18		71	74
	Federal Home Loan Mortgage Corp., 5.50%, 11/01/18		65	71
	Federal Home Loan Mortgage Corp., 5.50%, 01/01/19		231	250
	Federal Home Loan Mortgage Corp., 4.50%, 03/01/19		645	678
	Federal Home Loan Mortgage Corp., 5.50%, 08/01/19		209	226
	Federal Home Loan Mortgage Corp., 5.00%, 05/01/21		1,005	1,070
	Federal Home Loan Mortgage Corp., 5.00%, 12/01/21		94	100
	Federal Home Loan Mortgage Corp., 5.00%, 02/01/23		58	62
	Federal Home Loan Mortgage Corp., 5.00%, 03/01/23		38	40
	Federal Home Loan Mortgage Corp., 5.00%, 05/01/23		148	156
	Federal Home Loan Mortgage Corp., 5.00%, 07/01/23		942	995
	Federal Home Loan Mortgage Corp., 5.00%, 07/01/23		1,596	1,687
	Federal Home Loan Mortgage Corp., 5.00%, 08/01/23		889	940
	Federal Home Loan Mortgage Corp., 7.00%, 11/01/30		106	119
	Federal Home Loan Mortgage Corp., 7.00%, 02/01/31		18	20
	Federal Home Loan Mortgage Corp., 7.00%, 06/01/31		30	34
	Federal Home Loan Mortgage Corp., 7.00%, 10/01/32		103	115
	Federal Home Loan Mortgage Corp., 6.00%, 04/01/35, TBA (g)		5,800	6,223
	Federal Home Loan Mortgage Corp., 6.00%, 07/01/35		273	294
	Federal Home Loan Mortgage Corp., 6.00%, 01/01/36		1,104	1,192
	Federal Home Loan Mortgage Corp., 6.00%, 03/01/37		116	124
	Federal Home Loan Mortgage Corp., 6.00%, 09/01/37		1,404	1,525
	Federal Home Loan Mortgage Corp., 4.50%, 04/01/38		75	75
	Federal Home Loan Mortgage Corp., 4.50%, 09/01/38		70	70
	Federal Home Loan Mortgage Corp., 4.50%, 02/01/39		5,218	5,236
	Federal Home Loan Mortgage Corp., 4.50%, 02/01/39		1,127	1,131
	Federal Home Loan Mortgage Corp., 4.50%, 03/01/39		3,473	3,485
	Federal Home Loan Mortgage Corp., 6.00%, 12/01/39		899	966
	Federal Home Loan Mortgage Corp., 6.00%, 12/01/39		1,169	1,256
	Federal Home Loan Mortgage Corp., 6.00%, 12/01/39		157	169
				34,724
Federal National Mortgage Association - 4.3%
	Federal National Mortgage Association, 5.00%, 11/01/17		55	59
	Federal National Mortgage Association, 6.00%, 01/01/18		33	35
	Federal National Mortgage Association, 5.00%, 02/01/18		259	276
	Federal National Mortgage Association, 5.00%, 12/01/18		395	421
	Federal National Mortgage Association, 5.00%, 03/01/21		387	410
	Federal National Mortgage Association, 5.50%, 11/01/21		300	322
	Federal National Mortgage Association, 5.50%, 08/01/23		2,000	2,142
	Federal National Mortgage Association, 7.50%, 09/01/29		37	42
	Federal National Mortgage Association, 7.00%, 10/01/33		272	304
	Federal National Mortgage Association, 4.50%, 11/01/33		160	162
	Federal National Mortgage Association, 4.50%, 12/01/33		314	318
	Federal National Mortgage Association, 6.00%, 04/15/34, TBA (g)		9,900	10,516
	Federal National Mortgage Association, 4.50%, 09/01/35		287	290
	Federal National Mortgage Association, 4.50%, 09/01/35		711	718
	Federal National Mortgage Association, 6.00%, 05/01/37		-	-
	Federal National Mortgage Association, 6.00%, 06/01/37		-	-
	Federal National Mortgage Association, 6.00%, 07/01/37		-	-
	Federal National Mortgage Association, 6.00%, 11/01/37		880	941
	Federal National Mortgage Association, 6.00%, 09/01/38		195	207
	Federal National Mortgage Association, 4.50%, 02/01/39		929	932
	Federal National Mortgage Association, 4.50%, 02/01/39		8,074	8,102
	Federal National Mortgage Association, 4.50%, 03/01/39		2,274	2,282
	Federal National Mortgage Association, 4.50%, 03/01/39		7,956	7,983
				36,462
Government National Mortgage Association - 0.6%
	Government National Mortgage Association, 6.50%, 04/15/26		39	43
	Government National Mortgage Association, 5.50%, 11/15/32		96	102
	Government National Mortgage Association, 7.00%, 01/15/33		38	43
	Government National Mortgage Association, 6.00%, 02/15/33		119	129
	Government National Mortgage Association, 6.00%, 03/15/33		39	42
	Government National Mortgage Association, 5.50%, 05/15/33		97	103
	Government National Mortgage Association, 7.00%, 05/15/33		19	21
	Government National Mortgage Association, 5.50%, 05/20/33		136	145
	Government National Mortgage Association, 5.00%, 06/20/33		76	80
	Government National Mortgage Association, 5.50%, 07/15/33		39	41
	Government National Mortgage Association, 5.00%, 10/15/33		221	231
	Government National Mortgage Association, 6.00%, 10/20/33		138	150
	Government National Mortgage Association, 6.00%, 04/15/34		13	14
	Government National Mortgage Association, 6.00%, 01/15/35		9	10
	Government National Mortgage Association, 5.50%, 02/15/36		19	21
	Government National Mortgage Association, 5.00%, 03/15/36		33	35
	Government National Mortgage Association, 5.00%, 06/15/37		69	72
	Government National Mortgage Association, 5.00%, 06/15/38		817	851
	Government National Mortgage Association, 5.00%, 06/15/38		804	838
	Government National Mortgage Association, 5.00%, 06/15/38		522	544
	Government National Mortgage Association, 5.00%, 07/15/38		43	45
	Government National Mortgage Association, 5.00%, 07/15/38		37	39
	Government National Mortgage Association, 5.00%, 09/15/38		1,707	1,778
	Government National Mortgage Association REMIC, 7.50%, 09/16/35		22	25
				5,402
	Total Government and Agency Obligations (cost $165,991)			167,547
SHORT TERM INVESTMENTS - 13.1%
Mutual Funds - 9.0%
	JNL Money Market Fund, 0.03% (a) (h)		76,524	76,524
Securities Lending Collateral - 4.1%
	Securities Lending Cash Collateral Fund LLC, 0.24% (a) (h)		21,900	21,900
	Securities Lending Liquidating Fund LLC, 0.38% (a) (h)		13,263	13,263
				35,163
	Total Short Term Investments (cost $111,687)			111,687
Total Investments - 105.8% (cost $832,514)				902,391
Other Assets and Liabilities, Net -  (5.8%)				(49,745)
Total Net Assets - 100%				$      852,646
JNL/Select Money Market Fund
SHORT TERM INVESTMENTS - 100.3%
Certificates of Deposit - 36.9%
	Bank Nova Scotia, 0.29%, 08/03/10		$           10,000	$        10,000
	Bank of Nova Scotia, 0.29%, 09/02/10		8,000	8,000
	Barclays Bank Plc, 0.43%, 05/05/10		11,900	11,900
	Barclays Bank Plc, 0.44%, 10/06/10		3,000	3,000
	BNP Paribas, 0.33%, 05/04/10		26,000	26,000
	Calyon NY, 0.31%, 05/11/10		10,500	10,500
	Canadian Imperial Bank of New York, 0.40%, 05/26/10 (i)		12,000	12,000
	Citibank, 0.20%, 05/03/10		16,000	16,000
	Commonwealth, 0.29%, 06/08/10		11,700	11,700
	Credit Agricole SA, 0.33%, 09/01/10		8,000	8,000
	DNB Nor Bank ASA, 0.27%, 06/09/10		14,000	14,000
	DNB Nor Bank ASA, 0.26%, 07/19/10		8,000	8,000
	Nordea Bank AB, 1.43%, 04/28/10		7,500	7,507
	Nordea Bank Finland Plc, 0.28%, 04/07/10		18,000	18,000
	Procter & Gamble Co., 0.26%, 05/07/10 (i)		5,240	5,239
	Rabobank Nederland, 0.27%, 07/20/10		16,500	16,500
	Royal Bank of Canada, 0.23%, 02/24/11		8,800	8,800
	Societe Generale, 0.30%, 05/17/10		11,000	11,000
	Societe Generale, 0.30%, 07/13/10		11,400	11,400
	Svenska Handelsbanken, 0.31%, 05/13/10		10,000	10,000
	Svenska Handelsbanken, 0.46%, 06/10/10 (i)		7,500	7,500
	Toronto-Dominion Bank NY, 0.34%, 04/12/10		12,000	12,000
	Toronto-Dominion Bank NY, 0.27%, 08/10/10		8,000	8,000
	UBS AG Stamford, 0.57%, 04/21/10		8,000	8,000
	UBS AG Stamford, 0.32%, 09/02/10		8,800	8,800
				271,846
Commercial Paper - 30.5%
	Australia & New Zealand Banking Group Ltd., 0.26%, 06/15/10		17,400	17,391
	Bank of America Corp., 0.03%, 06/08/10		16,000	15,991
	Bank of America Corp., 0.29%, 07/07/10		12,800	12,790
	Ciesco LLC, 0.18%, 04/27/10		16,300	16,298
	Clipper Receivables Co., 0.19%, 04/08/10		11,600	11,600
	Coca-Cola Co., 0.17%, 05/04/10		2,000	2,000
	Commonwealth Bank Group, 0.27%, 08/17/10		7,000	6,993
	CRC Funding LLC, 0.20%, 05/24/10		6,100	6,098
	Enterprise Funding, 0.23%, 05/06/10		6,100	6,099
	Falcon Asset Securitization Co., 0.20%, 04/20/10		5,200	5,199
	Falcon Asset Securitization Co., 0.21%, 04/21/10		4,600	4,599
	General Electric Capital Corp., 0.18%, 04/20/10		25,000	24,998
	HSBC Bank USA, 0.28%, 07/08/10		11,400	11,391
	National Australia Bank Ltd., 0.28%, 01/27/11 (i) (t)		7,800	7,800
	Park Avenue Receivables Company LLC, 0.20%, 04/19/10		2,900	2,900
	Park Avenue Receivables Corp., 0.16%, 04/07/10		3,000	3,000
	Park Avenue Receivables Corp., 0.17%, 04/07/10		5,600	5,600
	Ranger Funding Co. LLC, 0.18%, 04/20/10		9,600	9,599
	Ranger Funding Co. LLC, 0.18%, 04/22/10		8,300	8,299
	Westpac Banking Corp., 0.29%, 04/07/10		18,000	17,999
	Yankee Acquisition Corp., 0.19%, 06/04/10		12,000	11,996
	Yorktown Capital LLC, 0.17%, 04/14/10		5,500	5,500
	Yorktown Capital LLC, 0.18%, 04/21/10		10,700	10,699
				224,839
Federal Home Loan Bank - 2.7%
	Federal Farm Credit Bank, 2.38%, 04/07/10		20,000	20,007
Federal Home Loan Bank - 2.7%
	Federal Home Loan Bank, 0.20%, 04/07/10		20,000	19,999
Federal Home Loan Mortgage Corp. - 15.0%
	Federal Home Loan Mortgage Corp., 0.20%, 04/07/10		25,000	24,999
	Federal Home Loan Mortgage Corp., 0.20%, 04/19/10		10,000	9,999
	Federal Home Loan Mortgage Corp., 0.19%, 05/04/10		10,000	9,998
	Federal Home Loan Mortgage Corp., 0.24%, 08/16/10		10,000	9,991
	Federal Home Loan Mortgage Corp., 0.26%, 09/01/10		9,000	8,990
	Federal Home Loan Mortgage Corp., 0.24%, 09/14/10		22,000	21,976
	Federal Home Loan Mortgage Corp., 0.29%, 09/20/10		5,000	4,993
	Federal Home Loan Mortgage Corp., 0.28%, 09/27/10		20,000	19,972
				110,918
Federal National Mortgage Association - 8.9%
	Federal National Mortgage Association, 0.19%, 05/05/10		15,000	14,997
	Federal National Mortgage Association, 0.19%, 07/07/10		10,000	9,995
	Federal National Mortgage Association, 0.18%, 07/14/10		11,000	10,995
	Federal National Mortgage Association, 0.23%, 08/25/10		8,000	7,993
	Federal National Mortgage Association, 0.27%, 09/08/10		15,000	14,982
	Federal National Mortgage Association, 0.29%, 09/22/10		6,500	6,491
				65,453
Repurchase Agreement - 1.6%
	Repurchase Agreement with Banc of America Securities, 0.02% (Collateralized by $11,094 Government National Mortgage Association, 6.00%, due on 09/15/39, value $11,879) acquired on 03/31/10, due 04/01/10 at $11,701		11,700	11,700
Mutual Funds - 0.0%
	JPMorgan Prime Money Market Fund, 0.03%		74	74
Treasury Inflation Index Securities - 2.0%
	U.S. Treasury Inflation Indexed Note, 0.88%, 04/15/10 (r)		15,899	14,885
	Total Short Term Investments (cost $739,721)			739,721
Total Investments - 100.3% (cost $739,721)				739,721
Other Assets and Liabilities, Net -  (0.3%)				(2,064)
Total Net Assets - 100%				$      737,657
JNL/Select Value Fund
COMMON STOCKS - 96.8%
CONSUMER DISCRETIONARY - 9.4%
	Coach Inc.		110	$          4,354
	Comcast Corp. - Class A		688	12,951
	Ford Motor Co. (c)		426	5,357
	Home Depot Inc.		299	9,663
	Kohl's Corp. (c)		126	6,913
	Mattel Inc.		416	9,460
	Stanley Black & Decker Inc.		267	15,306
	Staples Inc.		360	8,425
	Target Corp.		198	10,420
				82,849
CONSUMER STAPLES - 7.0%
	CVS Caremark Corp.		207	7,575
	Dean Foods Co. (c)		445	6,980
	General Mills Inc.		59	4,190
	Kimberly-Clark Corp.		124	7,803
	Kraft Foods Inc. - Class A		263	7,944
	PepsiCo Inc.		152	10,063
	Philip Morris International Inc.		167	8,695
	Sysco Corp.		278	8,195
				61,445
ENERGY - 16.2%
	Apache Corp.		109	11,043
	Baker Hughes Inc. (e)		300	14,029
	BP Plc - ADR (e)		172	9,799
	Chevron Corp.		289	21,900
	ConocoPhillips		238	12,184
	EOG Resources Inc.		63	5,892
	Exxon Mobil Corp.		376	25,205
	Halliburton Co.		132	3,971
	Hess Corp.		138	8,619
	Marathon Oil Corp.		296	9,362
	Occidental Petroleum Corp.		247	20,856
				142,860
FINANCIALS - 21.7%
	ACE Ltd.		302	15,768
	Ameriprise Financial Inc.		133	6,037
	AON Corp.		177	7,547
	Bank of America Corp.		1,110	19,814
	Bank of New York Mellon Corp.		276	8,521
	Chubb Corp.		214	11,101
	Goldman Sachs Group Inc.		115	19,691
	JPMorgan Chase & Co.		684	30,627
	PNC Financial Services Group Inc.		298	17,809
	Principal Financial Group Inc.		281	8,205
	UBS AG (c)		236	3,837
	Unum Group		467	11,573
	Wells Fargo & Co.		1,003	31,207
				191,737
HEALTH CARE - 11.5%
	Abbott Laboratories		179	9,419
	Amgen Inc. (c)		152	9,084
	Baxter International Inc.		174	10,098
	Cardinal Health Inc.		207	7,469
	Covidien Plc		153	7,713
	Johnson & Johnson		111	7,263
	Merck & Co. Inc.		299	11,160
	Pfizer Inc.		969	16,618
	Teva Pharmaceutical Industries Ltd. - ADR		140	8,819
	UnitedHealth Group Inc.		234	7,628
	Zimmer Holdings Inc. (c)		100	5,938
				101,209
INDUSTRIALS - 11.5%
	Boeing Co.		128	9,309
	Cummins Inc.		180	11,176
	General Electric Co.		1,133	20,612
	Illinois Tool Works Inc.		158	7,459
	Ingersoll-Rand Plc		372	12,965
	PACCAR Inc. (e)		151	6,544
	Textron Inc. (e)		415	8,815
	Tyco International Ltd.		250	9,547
	United Parcel Service Inc. - Class B		100	6,415
	Waste Management Inc.		244	8,397
				101,239
INFORMATION TECHNOLOGY - 8.1%
	Cisco Systems Inc. (c)		546	14,210
	Hewlett-Packard Co.		247	13,144
	Intel Corp.		616	13,719
	Maxim Integrated Products Inc.		269	5,222
	Microsoft Corp.		450	13,172
	Taiwan Semiconductor Manufacturing Co. Ltd. - ADR		379	3,976
	Texas Instruments Inc.		343	8,393
				71,836
MATERIALS - 5.3%
	Agrium Inc.		131	9,245
	Cliffs Natural Resources Inc. (e)		129	9,117
	Dow Chemical Co.		107	3,155
	EI Du Pont de Nemours & Co.		244	9,101
	Mosaic Co.		136	8,277
	Rexam Plc - ADR (e)		166	3,724
	Steel Dynamics Inc.		219	3,828
				46,447
TELECOMMUNICATION SERVICES - 2.7%
	AT&T Inc.		663	17,133
	Verizon Communications Inc.		203	6,288
				23,421
UTILITIES - 3.4%
	Edison International		208	7,111
	Entergy Corp.		156	12,691
	FPL Group Inc.		65	3,156
	Northeast Utilities		252	6,968
				29,926
	Total Common Stocks (cost $749,556)			852,969
NON-U.S. GOVERNMENT AGENCY ASSET-BACKED SECURITIES - 0.0%
	Sigma Finance, Inc. (d) (f) (u)		$                631	27
	Total Non-U.S. Government Agency Asset-Backed Securities (cost $631)			27
SHORT TERM INVESTMENTS - 3.3%
Mutual Funds - 2.9%
	JNL Money Market Fund, 0.03% (a) (h)		25,385	25,385
Securities Lending Collateral - 0.4%
	Securities Lending Cash Collateral Fund LLC, 0.24% (a) (h)		1,146	1,146
	Securities Lending Liquidating Fund LLC, 0.38% (a) (h)		2,182	2,182
				3,328
	Total Short Term Investments (cost $28,713)			28,713
Total Investments - 100.1% (cost $778,900)				881,709
Other Assets and Liabilities, Net -  (0.1%)				(1,186)
Total Net Assets - 100%				$      880,523
JNL/T. Rowe Price Established Growth Fund
COMMON STOCKS - 99.4%
CONSUMER DISCRETIONARY - 14.7%
	Amazon.com Inc. (c) (e)		295	$        40,067
	AutoZone Inc. (c)		52	8,914
	Carmax Inc. (c) (e)		236	5,936
	Carnival Corp. (c)		64	2,500
	Coach Inc. (e)		248	9,789
	Kohl's Corp. (c)		119	6,524
	Liberty Media Corp. - Interactive (c)		592	9,064
	Lowe's Cos. Inc.		466	11,298
	Marriott International Inc. - Class A		357	11,262
	McGraw-Hill Cos. Inc.		210	7,497
	MGM Mirage (c) (e)		189	2,263
	Nike Inc. - Class B		128	9,386
	O'Reilly Automotive Inc. (c)		99	4,117
	Priceline.com Inc. (c)		23	5,788
	Starbucks Corp. (c)		604	14,664
	Starwood Hotels & Resorts Worldwide Inc.		150	6,982
	Walt Disney Co.		340	11,862
				167,913
CONSUMER STAPLES - 2.5%
	Costco Wholesale Corp.		144	8,586
	PepsiCo Inc.		165	10,883
	Procter & Gamble Co.		147	9,312
				28,781
ENERGY - 6.0%
	Cameron International Corp. (c)		189	8,109
	EOG Resources Inc. (e)		91	8,439
	FMC Technologies Inc. (c)		48	3,121
	Murphy Oil Corp.		96	5,405
	Petroleo Brasileiro SA - ADR		359	14,209
	Schlumberger Ltd.		274	17,356
	Suncor Energy Inc.		354	11,516
				68,155
FINANCIALS - 13.2%
	American Express Co.		265	10,942
	BlackRock Inc.		16	3,462
	Charles Schwab Corp. (e)		443	8,278
	CME Group Inc.		19	6,038
	Franklin Resources Inc. (e)		118	13,075
	Goldman Sachs Group Inc.		68	11,586
	IntercontinentalExchange Inc. (c)		89	9,930
	Invesco Ltd.		509	11,150
	JPMorgan Chase & Co.		553	24,756
	Morgan Stanley		320	9,370
	Northern Trust Corp.		168	9,278
	PNC Financial Services Group Inc.		114	6,800
	Sun Life Financial Services of Canada Inc.		167	5,375
	U.S. Bancorp		469	12,135
	Wells Fargo & Co.		304	9,473
				151,648
HEALTH CARE - 11.9%
	Allergan Inc.		215	14,018
	Celgene Corp. (c)		96	5,923
	Express Scripts Inc. (c)		265	26,936
	Gilead Sciences Inc. (c)		377	17,151
	Illumina Inc. (c) (e)		106	4,123
	Intuitive Surgical Inc. (c)		31	10,688
	McKesson Corp.		153	10,049
	Medco Health Solutions Inc. (c)		533	34,391
	Stryker Corp. (e)		159	9,098
	Vertex Pharmaceuticals Inc. (c)		99	4,038
				136,415
INDUSTRIALS - 10.2%
	3M Co.		95	7,973
	Bucyrus International Inc. - Class A		82	5,405
	Danaher Corp.		434	34,641
	Deere & Co.		77	4,567
	Expeditors International Washington Inc.		206	7,598
	Fastenal Co. (e)		167	8,000
	FedEx Corp.		94	8,789
	McDermott International Inc. (c)		212	5,718
	PACCAR Inc.		169	7,329
	Precision Castparts Corp.		108	13,735
	Republic Services Inc. - Class A		166	4,809
	Rockwell Automation Inc.		101	5,708
	Union Pacific Corp.		30	2,199
				116,471
INFORMATION TECHNOLOGY - 34.1%
	Accenture Plc		268	11,238
	Akamai Technologies Inc. (c) (e)		169	5,315
	Apple Inc. (c)		329	77,386
	ASML Holding NV - NYS (e)		147	5,218
	Autodesk Inc. (c)		172	5,074
	Automatic Data Processing Inc.		149	6,635
	Baidu.com - ADR (c)		28	16,477
	Broadcom Corp. - Class A (c)		177	5,856
	Cisco Systems Inc. (c)		581	15,113
	Dolby Laboratories Inc. - Class A (c) (e)		186	10,901
	eBay Inc. (c)		403	10,855
	Google Inc. - Class A (c)		106	60,273
	Hewlett-Packard Co.		139	7,388
	Intel Corp.		156	3,477
	International Business Machines Corp.		68	8,721
	Juniper Networks Inc. (c) (e)		395	12,131
	Marvell Technology Group Ltd. (c)		595	12,126
	MasterCard Inc.		56	14,300
	McAfee Inc. (c)		202	8,086
	Microsoft Corp.		321	9,407
	Nvidia Corp. (c)		328	5,708
	QUALCOMM Inc.		442	18,576
	Salesforce.com Inc. (c) (e)		54	4,020
	Samsung Electronics Co. Ltd.		4	2,539
	Tencent Holdings Ltd. (e)		633	12,696
	Visa Inc. - Class A		412	37,513
	Western Union Co.		221	3,752
				390,781
MATERIALS - 2.7%
	Agnico-Eagle Mines Ltd.		49	2,706
	BHP Billiton Ltd.		235	9,406
	Monsanto Co.		73	5,185
	Praxair Inc.		167	13,878
				31,175
TELECOMMUNICATION SERVICES - 4.1%
	American Tower Corp. (c)		417	17,756
	Crown Castle International Corp. (c)		655	25,029
	Leap Wireless International Inc. (c)		116	1,903
	MetroPCS Communications Inc. (c) (e)		223	1,582
				46,270
	Total Common Stocks (cost $950,484)			1,137,609
NON-U.S. GOVERNMENT AGENCY ASSET-BACKED SECURITIES - 0.0%
	Sigma Finance, Inc. (d) (f) (u)		$             1,745	74
	Total Non-U.S. Government Agency Asset-Backed Securities (cost $1,745)			74
SHORT TERM INVESTMENTS - 5.9%
Mutual Funds - 0.9%
	JNL Money Market Fund, 0.03% (a) (h)		3,065	3,065
	T. Rowe Price Reserves Investment Fund, 0.25% (a) (h)		7,184	7,184
				10,249
Securities Lending Collateral - 5.0%
	Securities Lending Cash Collateral Fund LLC, 0.24% (a) (h)		39,671	39,671
	Securities Lending Liquidating Fund LLC, 0.38% (a) (h)		17,570	17,570
				57,241
	Total Short Term Investments (cost $67,490)			67,490
Total Investments - 105.3% (cost $1,019,719)				1,205,173
Other Assets and Liabilities, Net -  (5.3%)				(60,326)
Total Net Assets - 100%				$   1,144,847
JNL/T. Rowe Price Mid-Cap Growth Fund
COMMON STOCKS - 94.7%
CONSUMER DISCRETIONARY - 14.6%
	Bed Bath & Beyond Inc. (c)		198	$          8,664
	Cablevision Systems Corp. - Class A		295	7,121
	Carmax Inc. (c) (e)		407	10,224
	Chipotle Mexican Grill Inc. - Class A (c)		107	12,056
	Choice Hotels International Inc.		123	4,282
	Coach Inc.		173	6,837
	Discovery Communications Inc. - Class A (c)		172	5,812
	Discovery Communications Inc. - Class C (c)		198	5,823
	Dollar General Corp. (c)		166	4,192
	Education Management Corp. (c)		87	1,905
	Expedia Inc. (c)		577	14,402
	Gaylord Entertainment Co. (c) (e)		154	4,512
	Lamar Advertising Co. (c)		325	11,164
	Liberty Media - Starz (c)		83	4,538
	Madison Square Garden Inc. - Class A (c)		74	1,608
	Marriott International Inc. - Class A (e)		464	14,625
	O'Reilly Automotive Inc. (c)		183	7,633
	Panera Bread Co. - Class A (c)		44	3,366
	Starbucks Corp. (c)		167	4,053
	Tim Hortons Inc.		131	4,269
	Wynn Resorts Ltd.		75	5,687
				142,773
CONSUMER STAPLES - 2.1%
	Shoppers Drug Mart Corp.		231	9,926
	Whole Foods Market Inc. (c)		312	11,279
				21,205
ENERGY - 7.5%
	Atlas Energy Inc. (c)		142	4,419
	Cameron International Corp. (c)		116	4,972
	CNX Gas Corp. (c)		223	8,485
	Consol Energy Inc.		269	11,476
	FMC Technologies Inc. (c) (e)		170	10,987
	Murphy Oil Corp.		82	4,608
	Peabody Energy Corp.		115	5,256
	Range Resources Corp.		164	7,687
	Smith International Inc.		118	5,053
	Trican Well Service Ltd.		166	2,149
	Ultra Petroleum Corp. (c)		172	8,020
				73,112
FINANCIALS - 10.3%
	AON Corp.		197	8,414
	E*Trade Financial Corp. (c)		844	1,393
	Eaton Vance Corp. (e)		226	7,580
	Fifth Third Bancorp		453	6,156
	Interactive Brokers Group Inc. (c)		202	3,262
	IntercontinentalExchange Inc. (c)		59	6,619
	Janus Capital Group Inc.		354	5,059
	KeyCorp		768	5,952
	M&T Bank Corp. (e)		61	4,842
	Marshall & Ilsley Corp.		758	6,102
	MSCI Inc. (c)		263	9,494
	Principal Financial Group Inc.		233	6,806
	Raymond James Financial Inc.		149	3,984
	St. Joe Co. (c) (e)		75	2,426
	SunTrust Banks Inc.		167	4,474
	TCF Financial Corp.		334	5,324
	TD Ameritrade Holding Corp. (c)		338	6,442
	WR Berkley Corp.		226	5,896
				100,225
HEALTH CARE - 16.3%
	Alexion Pharmaceuticals Inc. (c)		72	3,915
	BioMarin Pharmaceutical Inc. (c)		140	3,272
	CareFusion Corp. (c)		366	9,673
	Cephalon Inc. (c) (e)		171	11,590
	Cerner Corp. (c) (e)		33	2,807
	Covance Inc. (c)		135	8,288
	CR Bard Inc.		106	9,182
	Dentsply International Inc. (e)		179	6,238
	Edwards Lifesciences Corp. (c)		113	11,173
	Elan Corp. Plc - ADR (c)		390	2,956
	Henry Schein Inc. (c)		170	10,013
	Human Genome Sciences Inc. (c)		279	8,426
	Humana Inc. (c)		89	4,163
	Idexx Laboratories Inc. (c) (e)		50	2,878
	Illumina Inc. (c) (e)		182	7,080
	Intuitive Surgical Inc. (c)		11	3,829
	Millipore Corp. (c)		54	5,702
	OSI Pharmaceuticals Inc. (c)		57	3,394
	Perrigo Co.		155	9,102
	Qiagen NV (c) (e)		338	7,771
	Regeneron Pharmaceuticals Inc. (c)		112	2,967
	Theravance Inc. (c)		136	1,816
	Valeant Pharmaceutical International (c)		184	7,895
	Vertex Pharmaceuticals Inc. (c) (e)		169	6,907
	Waters Corp. (c)		125	8,442
				159,479
INDUSTRIALS - 17.6%
	A123 Systems Inc. (c) (e)		62	852
	Alliant Techsystems Inc. (c)		47	3,821
	AMETEK Inc.		331	13,723
	Danaher Corp.		56	4,475
	Fastenal Co. (e)		223	10,702
	First Solar Inc. (c) (e)		14	1,717
	Foster Wheeler AG (c)		137	3,718
	Gardner Denver Inc.		144	6,342
	Goodrich Corp.		85	5,994
	Harsco Corp.		145	4,631
	Hertz Global Holdings Inc. (c)		695	6,943
	IDEX Corp.		255	8,440
	IHS Inc. (c) (e)		162	8,667
	Manpower Inc.		120	6,854
	McDermott International Inc. (c)		563	15,156
	MSC Industrial Direct Co. - Class A		96	4,863
	Quanta Services Inc. (c)		392	7,511
	Robert Half International Inc.		326	9,920
	Rockwell Collins Inc.		175	10,953
	Roper Industries Inc.		202	11,684
	Southwest Airlines Co.		248	3,279
	Stericycle Inc. (c)		52	2,834
	SunPower Corp. - Class B (c)		135	2,260
	Textron Inc.		227	4,819
	UTi Worldwide Inc.		281	4,305
	Verisk Analytics Inc. (c)		81	2,284
	WABCO Holdings Inc. (c)		167	4,997
				171,744
INFORMATION TECHNOLOGY - 22.3%
	Akamai Technologies Inc. (c)		198	6,219
	Altera Corp.		404	9,821
	Autodesk Inc. (c)		115	3,383
	Cree Inc. (c)		99	6,952
	Dolby Laboratories Inc. - Class A (c) (e)		183	10,737
	Electronic Arts Inc. (c)		374	6,979
	Factset Research Systems Inc.		112	8,217
	Fiserv Inc. (c)		175	8,883
	FLIR Systems Inc. (c) (e)		225	6,345
	Global Payments Inc.		265	12,071
	Intersil Corp.		312	4,605
	JDS Uniphase Corp. (c)		953	11,941
	Juniper Networks Inc. (c)		451	13,837
	Marvell Technology Group Ltd. (c)		335	6,827
	McAfee Inc. (c)		217	8,708
	MEMC Electronic Materials Inc. (c)		392	6,009
	Microchip Technology Inc. (e)		268	7,547
	Micros Systems Inc. (c) (e)		192	6,313
	National Semiconductor Corp.		337	4,870
	Nuance Communications Inc. (c)		310	5,158
	PMC - Sierra Inc. (c)		371	3,309
	Red Hat Inc. (c)		312	9,132
	Rovi Corp. (c)		195	7,240
	Salesforce.com Inc. (c) (e)		36	2,673
	Silicon Laboratories Inc. (c)		69	3,289
	Trimble Navigation Ltd. (c)		243	6,979
	Varian Semiconductor Equipment Associates Inc. (c)		169	5,597
	VeriSign Inc. (c)		197	5,124
	Western Union Co.		636	10,787
	Xilinx Inc.		338	8,620
				218,172
MATERIALS - 1.6%
	Agnico-Eagle Mines Ltd.		198	11,023
	Franco-Nevada Corp.		184	4,945
				15,968
TELECOMMUNICATION SERVICES - 1.3%
	American Tower Corp. (c)		227	9,672
	Leap Wireless International Inc. (c)		168	2,748
				12,420
UTILITIES - 1.1%
	Calpine Corp. (c)		865	10,285
	Total Common Stocks (cost $758,022)			925,383
NON-U.S. GOVERNMENT AGENCY ASSET-BACKED SECURITIES - 0.0%
	Sigma Finance, Inc. (d) (f) (u)		$             2,339	99
	Total Non-U.S. Government Agency Asset-Backed Securities (cost $2,339)			99
SHORT TERM INVESTMENTS - 14.4%
Mutual Funds - 5.4%
	JNL Money Market Fund, 0.03% (a) (h)		4,056	4,056
	T. Rowe Price Reserves Investment Fund, 0.25% (a) (h)		49,036	49,036
				53,092
Securities Lending Collateral - 9.0%
	Securities Lending Cash Collateral Fund LLC, 0.24% (a) (h)		50,406	50,406
	Securities Lending Liquidating Fund LLC, 0.38% (a) (h)		37,378	37,378
				87,784
	Total Short Term Investments (cost $140,876)			140,876
Total Investments - 109.1% (cost $901,237)				1,066,358
Other Assets and Liabilities, Net -  (9.1%)				(89,073)
Total Net Assets - 100%				$      977,285
JNL/T. Rowe Price Short-Term Bond Fund
INVESTMENT FUNDS - 0.5%
	T. Rowe Price Term Asset-Backed Securities Loan Facility (a) (f) (s) (u)		258	$          2,845
	Total Investment Funds (cost $2,837)			2,845
NON-U.S. GOVERNMENT AGENCY ASSET-BACKED SECURITIES - 9.3%
	Ally Auto Receivables Trust, 1.45%, 05/15/14 (f)		$             1,815	1,815
	American Express Credit Account Master Trust, 5.55%, 01/15/14		875	913
	AmeriCredit Automobile Receivables Trust, 0.97%, 01/15/13		2,550	2,550
	AmeriCredit Automobile Receivables Trust, 3.72%, 11/17/14		355	357
	Bank of America Auto Trust, 0.75%, 06/15/12 (t)		2,070	2,071
	BCAP LLC Trust REMIC, 0.89%, 11/25/36 (i)		149	132
	Cabela's Master Credit Card Trust, 1.68%, 01/16/18 (i) (t)		1,700	1,700
	CarMax Auto Owner Trust, 1.56%, 07/15/14		1,325	1,325
	CarMax Auto Owner Trust, 3.75%, 12/15/15		660	660
	CarMax Auto Owner Trust, 4.88%, 08/15/16		420	420
	Chase Issuance Trust, 4.96%, 09/17/12		4,000	4,082
	Chrysler Financial Lease Trust REMIC, 1.78%, 06/15/11 (t)		3,035	3,034
	Citibank Credit Card Issuance Trust, 0.57%, 10/07/13 (i)		2,350	2,318
	CitiFinancial Auto Issuance Trust, 2.59%, 10/15/13 (t)		1,538	1,557
	CNH Equipment Trust, 1.85%, 12/16/13		584	588
	CNH Equipment Trust, 1.54%, 07/15/14		2,000	1,996
	CS First Boston Mortgage Securities Corp. REMIC, 6.53%, 06/15/34		3,392	3,512
	Delta Air Lines Inc. Pass Through Trust, 7.57%, 11/18/10		1,250	1,266
	Discover Card Master Trust, 0.88%, 09/15/15 (i)		3,090	3,096
	Downey Savings & Loan Association Mortgage Loan Trust REMIC, 0.44%, 11/19/37 (i)		1,297	769
	Ford Credit Auto Owner Trust, 1.51%, 01/15/14		1,990	1,999
	Ford Credit Auto Owner Trust, 2.42%, 11/15/14		1,823	1,842
	Ford Credit Auto Owner Trust, 8.14%, 02/15/16 (t)		415	462
	GreenPoint Mortgage Funding Trust REMIC, 0.43%, 09/25/46 (i)		2,203	1,084
	Harborview Mortgage Loan Trust REMIC, 5.81%, 08/19/36 (i)		1,449	930
	Harborview Mortgage Loan Trust REMIC, 0.43%, 08/21/36 (i)		2,085	1,133
	HFC Home Equity Loan Asset Backed Certificates REMIC, 0.39%, 03/20/36 (i)		1,938	1,797
	Honda Auto Receivables Owner Trust, 1.25%, 10/21/13		1,680	1,684
	Honda Auto Receivables Owner Trust, 1.98%, 05/23/16		545	546
	John Deere Owner Trust, 1.57%, 10/15/13		715	719
	JPMorgan Mortgage Trust REMIC, 5.01%, 07/25/35 (i)		462	396
	MMAF Equipment Finance LLC, 2.37%, 11/15/13 (t)		1,572	1,575
	Sigma Finance, Inc. (d) (f) (u)		698	30
	Structured Adjustable Rate Mortgage Loan Trust REMIC, 6.00%, 11/25/37 (i)		2,047	1,208
	Structured Asset Securities Corp. REMIC, 2.53%, 09/25/33 (i)		840	751
	Thornburg Mortgage Securities Trust REMIC, 0.37%, 07/25/36 (i)		1,769	1,725
	USAA Auto Owner Trust, 1.30%, 06/16/14		1,120	1,119
	USAA Auto Owner Trust, 2.14%, 09/15/15		895	895
	Volkswagen Auto Loan Enhanced Trust, 0.66%, 05/21/12		1,345	1,345
	Wells Fargo Mortgage Backed Securities Trust REMIC, 3.02%, 04/25/35 (i)		3,073	2,845
	Total Non-U.S. Government Agency Asset-Backed Securities (cost $63,091)			58,246
CORPORATE BONDS AND NOTES - 50.7%
CONSUMER DISCRETIONARY - 2.8%
	Comcast Cable Communications Holdings Inc., 6.75%, 01/30/11		2,470	2,582
	COX Communications Inc., 7.75%, 11/01/10		450	468
	Daimler Finance North America LLC, 7.75%, 01/18/11		1,720	1,809
	DirecTV Holdings LLC, 4.75%, 10/01/14 (t)		2,000	2,089
	ERAC USA Finance Co., 5.80%, 10/15/12 (t)		2,182	2,356
	Staples Inc., 7.75%, 04/01/11 (l)		950	1,008
	TCM Sub LLC, 3.55%, 01/15/15 (t)		1,870	1,855
	Thomson Reuters Corp., 5.95%, 07/15/13		1,000	1,105
	Time Warner Cable Inc., 5.40%, 07/02/12		2,200	2,362
	Time Warner Inc., 6.88%, 05/01/12		485	533
	Viacom Inc., 6.63, 05/15/11		1,095	1,150
				17,317
CONSUMER STAPLES - 4.9%
	Altria Group Inc., 8.50%, 11/10/13 (l)		1,750	2,046
	Anheuser-Busch InBev Worldwide Inc., 3.00%, 10/15/12		2,285	2,346
	Anheuser-Busch InBev Worldwide Inc., 7.20%, 01/15/14 (t)		1,100	1,260
	BAT International Finance Plc, 8.13%, 11/15/13 (t)		2,950	3,467
	Coca-Cola Amatil Ltd., 3.25%, 11/02/14 (t)		1,385	1,373
	Coca-Cola Bottling Co. Consolidated, 5.00%, 11/15/10		2,000	2,131
	CVS/Caremark Corp., 1.75%, 09/10/10 (i)		825	829
	Dr. Pepper Snapple Group Inc., 1.70%, 12/21/11		1,860	1,865
	Dr. Pepper Snapple Group Inc., 2.35%, 12/21/12		525	529
	General Mills Inc., 6.00%, 02/15/12		1,400	1,523
	Kraft Foods Inc., 6.25%, 06/01/12		1,185	1,297
	Kraft Foods Inc., 2.63%, 05/08/13 (e)		1,130	1,138
	Kroger Co., 6.75%, 04/15/12		625	684
	Kroger Co., 7.50%, 01/15/14		700	808
	Procter & Gamble Co., 1.38%, 08/01/12		2,520	2,520
	SABMiller Plc, 6.20%, 07/01/11 (t)		2,090	2,204
	Safeway Inc., 6.50%, 03/01/11		300	315
	Safeway Inc., 5.80%, 08/15/12		2,080	2,268
	Wal-Mart Stores Inc., 3.20%, 05/15/14		2,000	2,051
				30,654
ENERGY - 3.4%
	CenterPoint Energy Resources Corp., 7.88%, 04/01/13		575	658
	Conoco Funding Co., 6.35%, 10/15/11		2,175	2,346
	Devon Financing Corp. ULC, 6.88%, 09/30/11		1,800	1,942
	Enterprise Products Operating LLC, 4.60%, 08/01/12		1,785	1,883
	Enterprise Products Operating LLC, 6.38%, 02/01/13		675	737
	Marathon Oil Corp., 6.50%, 02/15/14		1,000	1,121
	Plains All American Pipeline LP, 4.25%, 09/01/12		1,450	1,506
	SeaRiver Maritime Inc., 2.53%, 09/01/12		1,800	1,693
	Shell International Finance BV, 1.88%, 03/25/13		2,615	2,612
	Texas Gas Transmission LLC, 5.50%, 04/01/13 (t)		2,355	2,504
	Transocean Inc., 5.25%, 03/15/13		825	891
	Weatherford International Inc., 5.95%, 06/15/12		565	611
	Williams Partners LP, 3.80%, 02/15/15 (t)		890	888
	XTO Energy Inc., 5.90%, 08/01/12		600	659
	XTO Energy Inc., 4.63%, 06/15/13		1,000	1,072
				21,123
FINANCIALS - 23.3%
	Abbey National Treasury Service Plc, 3.88%, 11/10/14 (t)		1,430	1,422
	Allstate Corp., 6.13%, 02/15/12		2,115	2,285
	American Express Centurion Bank, 5.55%, 10/17/12		1,500	1,617
	American Honda Finance Corp., 2.38%, 03/18/13 (t)		1,260	1,260
	ANZ National International Ltd., 2.38%, 12/21/12 (e) (t)		1,515	1,518
	Australia & New Zealand Banking Group Ltd., 2.40%, 01/11/13 (t)		730	729
	AXA Financial Inc., 7.75%, 08/01/10		2,115	2,162
	Banco Bradesco SA, 4.10%, 03/23/15 (s) (u)		1,115	1,106
	Bank of America Corp., 7.38%, 05/15/14		1,100	1,237
	Bank of Nova Scotia, 2.25%, 01/22/13		925	932
	Bank of the West, 2.15%, 03/27/12 (e)		3,100	3,159
	Bank of Tokyo-Mitsubishi UFJ Ltd., 2.60%, 01/22/13 (t)		2,195	2,211
	Barclays Bank Plc, 2.50%, 01/23/13		2,595	2,598
	BB&T Corp., 3.85%; 07/27/12		2,770	2,887
	Charles Schwab Corp., 4.95%, 06/01/14		850	906
	Citigroup Inc., 5.13%, 02/15/11 (e)		500	515
	Citigroup Inc., 2.13%, 04/30/12		4,800	4,888
	Citigroup Inc., 5.85%, 07/02/13		1,500	1,576
	Citigroup Inc., 6.38%, 08/12/14		1,000	1,068
	Commonwealth Bank of Australia, 2.75%, 10/15/12 (t)		1,170	1,187
	Countrywide Home Loans Inc., 4.00%, 03/22/11		1,150	1,182
	Credit Suisse New York, 3.45%, 07/02/12		1,275	1,320
	Crown Castle Towers LLC, 4.52%, 01/15/15 (t)		1,515	1,535
	Deutsche Bank AG, 5.38%, 10/12/12 (e)		2,055	2,236
	Dexia Credit Local, 2.38%, 09/23/11 (t)		3,900	3,983
	ENEL Finance International SA, 3.88%, 10/07/14 (t)		2,420	2,451
	General Electric Capital Corp., 3.50%, 08/13/12		1,920	1,984
	General Electric Capital Corp., 2.00%, 09/28/12		5,200	5,271
	General Electric Capital Corp., 5.25%, 10/19/12		1,500	1,610
	General Electric Capital Corp., 3.75%, 11/14/14 (e)		800	810
	Goldman Sachs Group Inc., 3.63%, 08/01/12		2,550	2,641
	Goldman Sachs Group Inc., 4.75%, 07/15/13		1,000	1,057
	Greater Bay Bancorp, 5.13%, 04/15/10		750	751
	GreenPoint Bank, 9.25%, 10/01/10		1,175	1,217
	John Deere Capital Corp., 1.00%, 06/10/11 (i)		1,800	1,814
	JPMorgan Chase & Co., 6.95%, 08/10/12		2,429	2,691
	JPMorgan Chase & Co., 0.90%, 02/26/13 (e) (i)		2,310	2,322
	JPMorgan Chase & Co., 4.65%, 06/01/14		885	935
	Kreditanstalt fuer Wiederaufbau, 3.75%, 06/27/11		2,800	2,902
	Kreditanstalt fuer Wiederaufbau, 4.75%, 05/15/12		4,500	4,820
	Landeskreditbank Baden-Wuerttemberg Foerderbank, 3.25%, 10/29/10		2,000	2,029
	LeasePlan Corp. NV, 3.00%, 05/07/12 (t)		1,900	1,963
	Lloyds TSB Bank Plc., 4.38%, 01/12/15 (t)		1,750	1,725
	Mack-Cali Realty LP, 7.75%, 02/15/11		1,395	1,459
	Merrill Lynch & Co. Inc., 0.45%, 07/25/11 (i)		1,250	1,243
	Metropolitan Life Global Funding I, 2.88%, 09/17/12 (t)		1,000	1,016
	Metropolitan Life Global Funding I, 2.50%, 01/11/13 (t)		730	731
	Metropolitan Life Global Funding I, 5.13%, 06/10/14 (t)		500	530
	Morgan Stanley, 5.05%, 01/21/11		1,925	1,987
	Morgan Stanley, 5.63%, 01/09/12		1,320	1,398
	Morgan Stanley, 4.20%, 11/20/14		265	267
	National Australia Bank Ltd., 8.60%, 05/19/10		1,500	1,515
	National Australia Bank Ltd., 2.35%, 11/16/12 (t)		1,475	1,483
	National Rural Utilities Cooperative Finance Corp., 2.63%, 09/16/12		1,070	1,092
	New York Life Global Funding, 2.25%, 12/14/12 (t)		2,415	2,428
	Nordea Bank AB, 2.50%, 11/13/12 (t)		765	772
	NRW Bank, 5.38%, 07/19/10		4,000	4,044
	PACCAR Financial Corp., 1.95%, 12/17/12		775	773
	PNC Funding Corp., 3.63%, 02/08/15 (e)		1,315	1,323
	Principal Financial Group Inc., 7.88%, 05/15/14		1,500	1,697
	Prudential Financial Inc., 3.63%, 09/17/12		2,400	2,468
	Prudential Financial Inc., 2.75%, 01/14/13		490	491
	Rabobank Nederland NV, 4.20%, 05/13/14 (t)		1,150	1,209
	Royal Bank of Scotland Plc, 2.63%, 05/11/12 (t)		5,200	5,309
	Santander US Debt SA, 0.65%, 10/21/11 (i) (t)		2,220	2,223
	Santander US Debt SA, 2.49%, 01/18/13 (t)		1,800	1,802
	Simon Property Group LP, 4.20%, 02/01/15		540	541
	SLM Corp., 5.13%, 08/27/12		1,540	1,530
	Suncorp-Metway Ltd., 1.55%, 04/15/11 (e) (i) (t)		6,400	6,476
	U.S. Bank NA, 6.38%, 08/01/11		2,700	2,875
	UBS AG Stamford, 1.35%, 02/23/12 (i)		1,475	1,481
	Wachovia Capital Trust III, 5.80% (callable at 100 beginning 03/15/11) (p)		425	360
	WEA Finance LLC, 5.40%, 10/01/12 (t)		550	583
	Wells Fargo & Co., 5.25%, 10/23/12		1,000	1,077
	Westpac Banking Corp., 0.55%, 10/21/11 (i) (t)		1,880	1,879
	Westpac Banking Corp., 3.25%, 12/16/11 (t)		4,200	4,343
	Williams Co. Inc., 6.38%, 10/01/10 (t)		725	738
	Woodside Finance Ltd., 6.70%, 08/01/11 (t)		300	316
	Woodside Finance Ltd., 4.50%, 11/10/14 (t)		1,020	1,045
				145,016
HEALTH CARE - 2.9%
	AmerisourceBergen Corp., 5.63%, 09/15/12		1,360	1,465
	Boston Scientific Corp., 4.25%, 01/12/11		1,445	1,464
	Boston Scientific Corp., 4.50%, 01/15/15		670	643
	Express Scripts Inc., 5.25%, 06/15/12		2,755	2,938
	Life Technologies Corp., 3.38%, 03/01/13		940	945
	Novartis Capital Corp., 1.90%, 04/24/13		3,000	2,998
	Roche Holdings Inc., 4.50%, 03/01/12 (l) (t)		1,700	1,797
	Watson Pharmaceuticals Inc., 5.00%, 08/15/14		1,500	1,562
	WellPoint Inc., 5.00%, 01/15/11 (e)		2,350	2,419
	WellPoint Inc., 6.80%, 08/01/12		1,500	1,658
				17,889
INDUSTRIALS - 1.9%
	Allied Waste Industries Inc., 5.75%, 02/15/11		2,475	2,568
	CSX Corp., 5.75%, 03/15/13		1,350	1,465
	Dun & Bradstreet Corp., 5.50%, 03/15/11		2,335	2,429
	GATX Corp., 4.75%, 10/01/12		1,970	2,056
	Northrop Grumman Systems Corp., 7.13%, 02/15/11		2,225	2,342
	Waste Management Inc., 6.38%, 11/15/12		1,083	1,201
				12,061
INFORMATION TECHNOLOGY - 1.2%
	Cisco Systems Inc., 2.90%, 11/17/14		730	740
	Hewlett Packard Co., 2.25%, 05/27/11		2,500	2,538
	Oracle Corp., 5.00%, 01/15/11		1,000	1,034
	Xerox Corp., 5.50%, 05/15/12		1,840	1,952
	Xerox Corp., 5.65%, 05/15/13		1,000	1,073
				7,337
MATERIALS - 2.5%
	Airgas Inc., 2.85%, 10/01/13		1,835	1,831
	ArcelorMittal, 5.38%, 06/01/13		880	937
	Barrick Gold Corp., 6.13%, 09/15/13		1,750	1,950
	BHP Billiton Finance USA Ltd., 4.80%, 04/15/13		375	403
	Dow Chemical Co., 4.85%, 08/15/12		700	740
	Dow Chemical Co., 6.00%, 10/01/12		1,451	1,580
	Lafarge SA, 6.15%, 07/15/11		2,875	3,003
	Praxair Inc., 2.13%, 06/14/13		2,425	2,431
	Rio Tinto Finance USA Ltd., 8.95%, 05/01/14 (e) (l)		2,500	3,013
				15,888
TELECOMMUNICATION SERVICES - 4.4%
	America Movil SAB de CV, 3.63%, 03/30/15 (t)		1,080	1,084
	AT&T Corp., 7.30%, 11/15/11 (l)		2,500	2,733
	British Telecommunications Plc, 9.13%, 12/15/10 (l)		3,135	3,311
	Deutsche Telekom International Finance BV, 8.50%, 06/15/10 (l)		1,500	1,522
	France Telecom SA, 7.75%, 03/01/11 (l)		1,200	1,274
	Koninklijke KPN NV, 8.00%, 10/01/10		2,350	2,432
	Rogers Cable Inc., 6.25%, 06/15/13		325	358
	Rogers Cable Inc., 5.50%, 03/15/14		275	296
	Rogers Wireless Communications Inc., 6.38%, 03/01/14		900	999
	Telecom Italia Capital SA, 6.20%, 07/18/11		1,375	1,444
	Telecom Italia Capital SA, 5.25%, 11/15/13		1,500	1,571
	Telefonica Emisiones SAU, 5.98%, 06/20/11		1,900	1,997
	Telefonica Emisiones SAU, 5.86%, 02/04/13		415	451
	Telefonica Europe BV, 7.75%, 09/15/10		700	721
	Verizon Virginia Inc., 4.63%, 03/15/13		2,780	2,916
	Verizon Wireless Capital LLC, 3.75%, 05/20/11		1,125	1,160
	Verizon Wireless Capital LLC, 5.55%, 02/01/14		1,475	1,612
	Vodafone Group Plc, 5.35%, 02/27/12 (e)		1,650	1,759
				27,640
UTILITIES - 3.4%
	Abu Dhabi National Energy Co., 5.62%, 10/25/12 (t)		1,625	1,681
	Appalachian Power Co., 5.65%, 08/15/12		1,750	1,881
	Commonwealth Edison Co., 4.74%, 08/15/10		1,150	1,167
	Dominion Resources Inc., 5.70%, 09/17/12		1,020	1,105
	Duke Energy Corp., 6.30%, 02/01/14 (e)		1,575	1,755
	Duke Energy Ohio Inc., 2.10%, 06/15/13		745	746
	FirstEnergy Corp., 6.45%, 11/15/11		32	35
	MidAmerican Energy Holdings Co., 5.00%, 02/15/14		1,825	1,936
	NiSource Finance Corp., 7.88%, 11/15/10		350	363
	Northeast Utilities, 5.65%, 06/01/13		2,775	2,958
	PPL Energy Supply LLC, 6.40%, 11/01/11		1,200	1,284
	Progress Energy Inc., 6.05%, 03/15/14		875	963
	PSEG Power LLC, 6.95%, 06/01/12		500	552
	PSEG Power LLC, 2.50%, 04/15/13 (t)		2,535	2,537
	Southern California Edison Co., 0.65%, 10/21/11 (i)		1,110	1,116
	Southern Co., 5.30%, 01/15/12		1,250	1,329
				21,408
	Total Corporate Bonds and Notes (cost $312,440)			316,333
GOVERNMENT AND AGENCY OBLIGATIONS - 34.8%
GOVERNMENT SECURITIES - 11.3%
Sovereign - 4.5%
	ANZ National International Ltd., 3.25%, 04/02/12 (e) (t)		3,700	3,831
	Japan Finance Corp., 2.00%, 06/24/11		1,600	1,616
	Kommunalbanken AS, 5.13%, 05/30/12		7,400	7,983
	Mexican Bonos, 9.00%, 12/22/11	MXN	28,850	2,485
	Societe Financement de l'Economie Francaise, 1.50%, 10/29/10 (t)		10,100	10,140
	Societe Financement de l'Economie Francaise, 2.00%, 02/25/11 (e) (t)		1,900	1,926
				27,981
Treasury Inflation Index Securities - 1.8%
	U.S. Treasury Inflation Indexed Note, 0.88%, 04/15/10 (r)		8,922	8,931
	U.S. Treasury Inflation Indexed Note, 1.88%, 07/05/13 (r)		2,006	2,122
				11,053
U.S. Treasury Securities - 5.0%
	U.S. Treasury Note, 1.00%, 07/31/11		31,000	31,160
U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES - 23.5%
Federal Home Loan Bank - 1.8%
	Federal Home Loan Bank, 3.25%, 03/11/11		11,200	11,481
Federal Home Loan Mortgage Corp. - 5.0%
	Federal Home Loan Mortgage Corp., 1.75%, 07/27/11		3,900	3,904
	Federal Home Loan Mortgage Corp., 2.13%, 03/23/12		3,400	3,461
	Federal Home Loan Mortgage Corp., 1.75%, 06/15/12		2,100	2,120
	Federal Home Loan Mortgage Corp., 4.00%, 02/01/14		16	16
	Federal Home Loan Mortgage Corp., 4.00%, 03/01/14		24	25
	Federal Home Loan Mortgage Corp., 4.00%, 03/01/14		30	31
	Federal Home Loan Mortgage Corp., 4.00%, 03/01/14		100	102
	Federal Home Loan Mortgage Corp., 4.00%, 03/01/14		26	26
	Federal Home Loan Mortgage Corp., 4.00%, 03/01/14		22	22
	Federal Home Loan Mortgage Corp., 4.00%, 03/01/14		33	33
	Federal Home Loan Mortgage Corp., 4.00%, 03/01/14		20	20
	Federal Home Loan Mortgage Corp., 4.00%, 03/01/14		29	29
	Federal Home Loan Mortgage Corp., 4.00%, 04/01/14		22	22
	Federal Home Loan Mortgage Corp., 4.00%, 04/01/14		13	14
	Federal Home Loan Mortgage Corp., 4.00%, 04/01/14		18	19
	Federal Home Loan Mortgage Corp., 5.00%, 10/01/17		476	508
	Federal Home Loan Mortgage Corp., 5.00%, 10/01/17		387	411
	Federal Home Loan Mortgage Corp., 5.00%, 11/01/17		970	1,031
	Federal Home Loan Mortgage Corp., 5.00%, 01/01/18		1,584	1,683
	Federal Home Loan Mortgage Corp., 5.00%, 03/01/18		457	488
	Federal Home Loan Mortgage Corp., 5.00%, 03/01/18		3,360	3,571
	Federal Home Loan Mortgage Corp., 4.50%, 04/01/18		41	44
	Federal Home Loan Mortgage Corp., 5.00%, 06/01/18		466	495
	Federal Home Loan Mortgage Corp., 4.50%, 11/01/18		72	76
	Federal Home Loan Mortgage Corp., 4.50%, 05/01/19		102	107
	Federal Home Loan Mortgage Corp., 5.50%, 10/01/19		560	605
	Federal Home Loan Mortgage Corp., 5.50%, 01/01/20		494	533
	Federal Home Loan Mortgage Corp., 5.50%, 01/01/20		356	384
	Federal Home Loan Mortgage Corp., 4.50%, 04/01/20		242	255
	Federal Home Loan Mortgage Corp., 5.50%, 05/01/20		369	398
	Federal Home Loan Mortgage Corp., 5.50%, 07/01/20		325	350
	Federal Home Loan Mortgage Corp., 4.50%, 08/01/20		160	168
	Federal Home Loan Mortgage Corp., 2.74%, 09/01/33 (i)		245	251
	Federal Home Loan Mortgage Corp., 3.35%, 09/01/33 (i)		43	44
	Federal Home Loan Mortgage Corp., 2.61%, 10/01/34 (i)		121	124
	Federal Home Loan Mortgage Corp., 2.66%, 11/01/34 (i)		212	218
	Federal Home Loan Mortgage Corp., 3.18%, 11/01/34 (i)		73	76
	Federal Home Loan Mortgage Corp., 3.31%, 11/01/34 (i)		97	101
	Federal Home Loan Mortgage Corp., 3.35%, 11/01/34 (i)		53	55
	Federal Home Loan Mortgage Corp., 2.92%, 01/01/35 (i)		114	117
	Federal Home Loan Mortgage Corp., 2.48%, 02/01/35 (i)		138	140
	Federal Home Loan Mortgage Corp., 2.62%, 02/01/35 (i)		217	223
	Federal Home Loan Mortgage Corp., 2.71%, 02/01/35 (i)		106	109
	Federal Home Loan Mortgage Corp., 2.74%, 02/01/35 (i)		136	138
	Federal Home Loan Mortgage Corp., 2.81%, 02/01/35 (i)		137	139
	Federal Home Loan Mortgage Corp., 2.85%, 02/01/35 (i)		65	67
	Federal Home Loan Mortgage Corp., 3.07%, 02/01/35 (i)		107	111
	Federal Home Loan Mortgage Corp., 3.82%, 06/01/35 (i)		1,225	1,261
	Federal Home Loan Mortgage Corp., 5.18%, 09/01/35 (i)		1,189	1,223
	Federal Home Loan Mortgage Corp., 3.42%, 10/01/35 (i)		917	952
	Federal Home Loan Mortgage Corp., 3.00%, 11/01/35 (i)		626	645
	Federal Home Loan Mortgage Corp., 2.66%, 03/01/36 (i)		1,030	1,078
	Federal Home Loan Mortgage Corp., 5.00%, 09/01/38		691	714
	Federal Home Loan Mortgage Corp. REMIC, 5.00%, 10/15/21		2,082	2,197
	Federal Home Loan Mortgage Corp. REMIC, 0.00%, 03/15/37 (0.00% until LIBOR reaches 7.25%) (s) (u)		95	91
				31,025
Federal National Mortgage Association - 16.4%
	Federal National Mortgage Association, 2.05%, 07/28/11		6,000	6,000
	Federal National Mortgage Association, 5.50%, 01/01/17		50	54
	Federal National Mortgage Association, 5.50%, 01/01/17		103	111
	Federal National Mortgage Association, 5.50%, 01/01/17		71	76
	Federal National Mortgage Association, 5.50%, 03/01/18		80	86
	Federal National Mortgage Association, 5.50%, 12/01/18		418	450
	Federal National Mortgage Association, 5.50%, 01/01/19		872	939
	Federal National Mortgage Association, 5.50%, 05/01/19		449	483
	Federal National Mortgage Association, 5.00%, 07/01/19		6,918	7,387
	Federal National Mortgage Association, 5.00%, 12/01/19		5,471	5,839
	Federal National Mortgage Association, 4.50%, 06/01/23		711	739
	Federal National Mortgage Association, 5.50%, 01/01/24		4,222	4,531
	Federal National Mortgage Association, 4.50%, 08/01/24		11,604	12,054
	Federal National Mortgage Association, 4.50%, 09/01/24		4,196	4,359
	Federal National Mortgage Association, 4.50%, 10/01/24		1,873	1,945
	Federal National Mortgage Association, 4.50%, 10/01/24		657	683
	Federal National Mortgage Association, 4.50%, 11/01/24		1,266	1,315
	Federal National Mortgage Association, 4.50%, 12/01/24		1,618	1,680
	Federal National Mortgage Association, 4.00%, 02/01/25		5,209	5,293
	Federal National Mortgage Association, 4.00%, 03/01/25		1,806	1,836
	Federal National Mortgage Association, 2.52%, 03/01/33 (i)		8	8
	Federal National Mortgage Association, 2.58%, 06/01/33 (i)		86	87
	Federal National Mortgage Association, 2.79%, 06/01/33 (i)		889	915
	Federal National Mortgage Association, 3.83%, 07/01/33 (i)		63	65
	Federal National Mortgage Association, 2.63%, 09/01/33 (i)		6	6
	Federal National Mortgage Association, 2.59%, 12/01/33 (i)		1,172	1,208
	Federal National Mortgage Association, 3.24%, 12/01/33 (i)		6	6
	Federal National Mortgage Association, 3.07%, 04/01/34 (i)		8,715	9,004
	Federal National Mortgage Association, 3.71%, 04/01/34 (i)		25	26
	Federal National Mortgage Association, 3.02%, 10/01/34 (i)		38	39
	Federal National Mortgage Association, 2.82%, 11/01/34 (i)		1,199	1,254
	Federal National Mortgage Association, 2.93%, 11/01/34 (i)		12	13
	Federal National Mortgage Association, 3.17%, 11/01/34 (i)		307	318
	Federal National Mortgage Association, 2.85%, 12/01/34 (i)		124	127
	Federal National Mortgage Association, 2.64%, 01/01/35 (i)		169	174
	Federal National Mortgage Association, 2.77%, 01/01/35 (i)		155	158
	Federal National Mortgage Association, 2.85%, 01/01/35 (i)		135	138
	Federal National Mortgage Association, 2.85%, 01/01/35 (i)		46	47
	Federal National Mortgage Association, 2.58%, 02/01/35 (i)		426	438
	Federal National Mortgage Association, 2.80%, 02/01/35 (i)		82	83
	Federal National Mortgage Association, 2.34%, 03/01/35 (i)		179	180
	Federal National Mortgage Association, 2.22%, 04/01/35 (i)		1,140	1,159
	Federal National Mortgage Association, 2.84%, 04/01/35 (i)		263	267
	Federal National Mortgage Association, 3.99%, 04/01/35 (i)		681	699
	Federal National Mortgage Association, 2.70%, 05/01/35 (i)		597	608
	Federal National Mortgage Association, 3.34%, 05/01/35 (i)		1,191	1,220
	Federal National Mortgage Association, 3.82%, 05/01/35 (i)		154	159
	Federal National Mortgage Association, 3.01%, 06/01/35 (i)		988	1,015
	Federal National Mortgage Association, 3.63%, 06/01/35 (i)		949	988
	Federal National Mortgage Association, 4.89%, 07/01/35 (i)		1,108	1,147
	Federal National Mortgage Association, 4.92%, 07/01/35 (i)		969	1,002
	Federal National Mortgage Association, 1.91%, 08/01/35 (i)		1,463	1,495
	Federal National Mortgage Association, 3.61%, 08/01/35 (i)		960	1,000
	Federal National Mortgage Association, 2.94%, 11/01/35 (i)		1,078	1,104
	Federal National Mortgage Association, 3.10%, 11/01/35 (i)		811	841
	Federal National Mortgage Association, 3.20%, 02/01/36 (i)		886	916
	Federal National Mortgage Association, 5.21%, 02/01/36 (i)		1,433	1,494
	Federal National Mortgage Association, 2.65%, 03/01/36 (i)		1,080	1,093
	Federal National Mortgage Association, 2.67%, 03/01/36 (i)		767	780
	Federal National Mortgage Association, 6.00%, 01/01/38		3,028	3,221
	Federal National Mortgage Association REMIC, 5.00%, 08/25/19		8,003	8,497
	Federal National Mortgage Association REMIC, 5.00%, 11/25/21		2,931	3,090
	Federal National Mortgage Association REMIC, Interest Only, 2.70%, 08/25/35 (i) (s) (u)		13	-
	Federal National Mortgage Association REMIC, 0.00%, 02/25/37 (0.00% until LIBOR reaches 7.25%) (i) (s) (u)		212	207
				102,156
Government National Mortgage Association - 0.3%
	Government National Mortgage Association, 7.00%, 12/15/17		1,580	1,711
	Government National Mortgage Association, 5.50%, 07/15/20		373	403
				2,114
	Total Government and Agency Obligations (cost $214,197)			216,970
SHORT TERM INVESTMENTS - 6.8%
Mutual Funds - 5.0%
	JNL Money Market Fund, 0.03% (a) (h)		3,000	3,000
	T. Rowe Price Reserves Investment Fund, 0.25% (a) (h)		28,083	28,083
				31,083
Securities Lending Collateral - 1.8%
	Securities Lending Cash Collateral Fund LLC, 0.24% (a) (h)		3,707	3,707
	Securities Lending Liquidating Fund LLC, 0.38% (a) (h)		7,522	7,522
				11,229
	Total Short Term Investments (cost $42,312)			42,312
Total Investments - 102.1% (cost $634,877)				636,706
Other Assets and Liabilities, Net -  (2.1%)				(13,181)
Total Net Assets - 100%				$      623,525
JNL/T. Rowe Price Value Fund
COMMON STOCKS - 95.4%
CONSUMER DISCRETIONARY - 14.0%
	Bed Bath & Beyond Inc. (c)		194	$          8,485
	Cablevision Systems Corp. - Class A		445	10,733
	Comcast Corp. - Special Class A		173	3,115
	Discovery Communications Inc. - Class C (c)		348	10,244
	Fortune Brands Inc.		180	8,742
	H&R Block Inc.		324	5,767
	Harley-Davidson Inc.		182	5,106
	Home Depot Inc.		385	12,455
	International Game Technology		275	5,065
	Kohl's Corp. (c) (e)		156	8,546
	Liberty Media - Starz (c)		27	1,488
	Liberty Media Corp. - Capital (c)		227	8,238
	Madison Square Garden Inc. - Class A (c)		98	2,133
	MGM Mirage (c) (e)		439	5,263
	Newell Rubbermaid Inc.		313	4,755
	Sherwin-Williams Co.		35	2,396
	Time Warner Cable Inc.		190	10,113
	Time Warner Inc.		328	10,263
				122,907
CONSUMER STAPLES - 4.9%
	Altria Group Inc.		226	4,627
	Avon Products Inc.		110	3,722
	Kimberly-Clark Corp.		121	7,627
	Kraft Foods Inc. - Class A		92	2,767
	Kroger Co.		101	2,188
	Philip Morris International Inc.		112	5,837
	Procter & Gamble Co.		78	4,903
	Sara Lee Corp.		211	2,944
	Wal-Mart Stores Inc.		149	8,290
				42,905
ENERGY - 13.6%
	Baker Hughes Inc. (e)		124	5,808
	BJ Services Co.		366	7,841
	Chevron Corp.		194	14,703
	ConocoPhillips		68	3,480
	Consol Energy Inc.		142	6,036
	Exxon Mobil Corp.		102	6,798
	Hess Corp.		68	4,264
	Murphy Oil Corp.		198	11,137
	Nexen Inc.		205	5,066
	Royal Dutch Shell Plc - ADR		205	11,873
	Schlumberger Ltd. (e)		170	10,776
	Spectra Energy Corp.		588	13,254
	StatoilHydro ASA		258	5,980
	StatoilHydro ASA - ADR		59	1,376
	Sunoco Inc.		215	6,373
	Total SA - ADR		92	5,315
				120,080
FINANCIALS - 22.8%
	AFLAC Inc.		119	6,433
	American Express Co.		275	11,326
	Ameriprise Financial Inc.		210	9,507
	AON Corp.		251	10,720
	Bank of America Corp.		1,367	24,399
	CIT Group Inc. (c)		128	4,987
	Citigroup Inc. (c)		1,536	6,222
	Fifth Third Bancorp		132	1,794
	First Horizon National Corp. (c)		583	8,186
	Goldman Sachs Group Inc.		32	5,392
	JPMorgan Chase & Co.		473	21,153
	KeyCorp		1,050	8,141
	Lazard Ltd. - Class A		235	8,375
	Marsh & McLennan Cos. Inc.		247	6,032
	Morgan Stanley		315	9,226
	NYSE Euronext		202	5,990
	PNC Financial Services Group Inc. (e)		86	5,116
	SLM Corp. (c)		699	8,748
	St. Joe Co. (c) (e)		328	10,624
	State Street Corp.		132	5,972
	SunTrust Banks Inc.		193	5,167
	U.S. Bancorp		250	6,465
	Wells Fargo & Co.		277	8,630
	Willis Group Holdings Plc		90	2,819
				201,424
HEALTH CARE - 9.6%
	Amgen Inc. (c)		150	8,958
	Cardinal Health Inc.		111	3,996
	CareFusion Corp. (c)		241	6,370
	CIGNA Corp.		173	6,328
	Covidien Plc		191	9,578
	Johnson & Johnson		162	10,536
	Medtronic Inc.		155	6,962
	Merck & Co. Inc.		239	8,927
	Pfizer Inc.		1,043	17,887
	WellPoint Inc. (c)		86	5,523
				85,065
INDUSTRIALS - 10.2%
	3M Co.		82	6,886
	Deere & Co.		73	4,341
	Fluor Corp.		94	4,367
	General Electric Co.		711	12,937
	Honeywell International Inc.		123	5,577
	Illinois Tool Works Inc.		168	7,938
	Lockheed Martin Corp.		32	2,638
	Raytheon Co.		119	6,769
	Republic Services Inc. - Class A		234	6,776
	Southwest Airlines Co.		1,152	15,228
	Tyco International Ltd.		172	6,583
	Union Pacific Corp.		95	6,927
	Waste Management Inc.		90	3,099
				90,066
INFORMATION TECHNOLOGY - 9.3%
	Alcatel-Lucent - ADR (c)		1,079	3,366
	Alcatel-Lucent (c) (e)		228	720
	Analog Devices Inc.		204	5,891
	Applied Materials Inc.		475	6,403
	Dell Inc. (c)		479	7,185
	Electronic Arts Inc. (c)		181	3,372
	International Business Machines Corp.		66	8,477
	Juniper Networks Inc. (c)		98	3,013
	Microsoft Corp.		545	15,955
	Texas Instruments Inc.		405	9,918
	Tyco Electronics Ltd.		315	8,645
	Western Union Co.		518	8,787
				81,732
MATERIALS - 4.3%
	EI Du Pont de Nemours & Co.		167	6,234
	International Paper Co.		317	7,794
	MeadWestvaco Corp.		182	4,650
	United States Steel Corp. (e)		92	5,818
	Weyerhaeuser Co.		290	13,128
				37,624
TELECOMMUNICATION SERVICES - 2.7%
	AT&T Inc.		480	12,414
	CenturyTel Inc.		74	2,635
	Qwest Communications International Inc.		242	1,260
	Sprint Nextel Corp. (c) (e)		1,295	4,919
	Vodafone Group Plc		1,217	2,807
				24,035
UTILITIES - 4.0%
	AES Corp. (c)		298	3,277
	CenterPoint Energy Inc.		397	5,704
	Entergy Corp.		118	9,599
	NiSource Inc. (e)		243	3,835
	NRG Energy Inc. (c)		364	7,616
	Pinnacle West Capital Corp.		69	2,596
	PPL Corp.		89	2,452
				35,079
	Total Common Stocks (cost $792,219)			840,917
PREFERRED STOCKS - 1.1%
FINANCIALS - 1.0%
	Citigroup Inc. 7.50%, 12/15/12		29	3,559
	Fifth Third Bancorp, Convertible Preferred, 8.50%, Series G (p)		40	5,379
				8,938
TELECOMMUNICATION SERVICES - 0.1%
	Lucent Technologies Capital Trust I, Convertible Preferred, 7.75% (callable at 1,016 on 06/03/10)		1	637
	Total Preferred Stocks (cost $6,466)			9,575
INVESTMENT FUNDS - 0.9%
	T. Rowe Price Institutional Floating Rate Fund (a)		734	7,502
	Total Investment Funds (cost $6,315)			7,502
NON-U.S. GOVERNMENT AGENCY ASSET-BACKED SECURITIES - 0.0%
	Sigma Finance, Inc. (d) (f) (u)		$             1,103	47
	Total Non-U.S. Government Agency Asset-Backed Securities (cost $1,103)			47
CORPORATE BONDS AND NOTES - 0.4%
CONSUMER DISCRETIONARY - 0.3%
	International Game Technology, 3.25%, 05/01/14 (e) (s) (u)		1,007	1,197
	Newell Rubbermaid Inc., 5.50%, 03/15/14		861	1,617
				2,814
MATERIALS - 0.1%
	United States Steel Corp. 4.00%, 05/15/14		327	687
	Total Corporate Bonds and Notes (cost $2,387)			3,501
SHORT TERM INVESTMENTS - 5.7%
Mutual Funds - 2.4%
	JNL Money Market Fund, 0.03% (a) (h)		6,380	6,380
	T. Rowe Price Reserves Investment Fund, 0.25% (a) (h)		14,576	14,576
				20,956
Securities Lending Collateral - 3.3%
	Securities Lending Cash Collateral Fund LLC, 0.24% (a) (h)		17,503	17,503
	Securities Lending Liquidating Fund LLC, 0.38% (a) (h)		11,656	11,656
				29,159
	Total Short Term Investments (cost $50,115)			50,115
Total Investments - 103.5% (cost $858,605)				911,657
Other Assets and Liabilities, Net -  (3.5%)				(30,763)
Total Net Assets - 100%				$      880,894

JNL Series Trust (Unaudited)

Notes to the Schedules of Investments (dollar amounts in thousands)

March 31, 2010

(a)	Investment in affiliate.
(b)	The Fund does not invest in the Underlying Affiliated Funds for the purpose of exercising management or control.  At March 31, 2010, the percentage of shares outstanding held
	by each Fund in the Underlying Affiliated Fund is presented parenthetically in the Schedules of Investments. Percentages reflecting 0.0% represent amounts less than 0.05%.
(c)	Non-income producing security.
(d)	Issuer was in bankruptcy and/or was in default relating to principal and/or interest.
(e)	All or portion of the security was on loan.
(f)	Security fair valued in good faith in accordance with the procedures established by the JNL Series Trust's ("Trust") Board of Trustees ("Board").  Good faith fair valued securities
	may be classified as Level 2 or Level 3 for Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") Topic 820 "Fair Value Measurements and
	Disclosures" based on the applicable valuation inputs. See FASB ASC Topic 820 "Fair Value Measurements and Disclosures" in these Notes to the Schedules of Investments.
(g)	Investment purchased on a delayed delivery basis. As of March 31, 2010, the total cost of investments purchased on a delayed delivery basis was as follows: JNL/Goldman
	Sachs Core Plus Bond Fund $42,744; JNL/Mellon Capital Management Bond Index Fund $22,416; JNL/PIMCO Real Return Fund $194,177; JNL/PIMCO Total Return Bond
	Fund $43,419; and JNL/Select Balanced Fund $16,724.
(h)	Yield changes daily to reflect current market conditions. Rate was the quoted yield as of March 31, 2010.
(i)	Variable rate security. Rate stated was in effect as of March 31, 2010.
(j)	Security issued with a zero coupon. Income is recognized through the accretion of discount.
(k)	Security is a "step-up" bond where the coupon may increase or step up at a future date.  Rate stated was the coupon as of March 31, 2010.
(l)	The interest rate for this security is inversely affected by upgrades or downgrades to the credit rating of the issuer.
(m)	All or a portion of the securities or cash is segregated as collateral for swap agreements.  As of March 31, 2010, total value of collateral in JNL/PIMCO Real Return Fund was
	$709.
(n)	All or a portion of the securities or cash is pledged as collateral for securities sold short.   As of March 31, 2010, total value of collateral in JNL/Credit Suisse Long/Short Fund
	was $49,576.
(o)	All or a portion of the securities or cash is pledged as collateral for open futures contracts.  As of March 31, 2010, total value of collateral was as follows: JNL/Goldman Sachs
	Core Plus Bond Fund $3,559;  JNL/Ivy Asset Strategy Fund, $8,731; JNL/Mellon Capital Management S&P 500 Index Fund $2,099; JNL/Mellon Capital Management S&P 400
	MidCap Index Fund $410; JNL/Mellon Capital Management Small Cap Index Fund, $1,150; JNL/Mellon Capital Management International Index Fund, $645; JNL/Mellon Capital
	Management Global Alpha Fund $2,739; JNL/PIMCO Real Return Fund $2,353; and JNL/PIMCO Total Return Bond Fund $11,959.
(p)	Perpetual maturity security. Interest rate is fixed until the first call date and variable thereafter.
(q)	Par amounts are listed in United States Dollars unless otherwise noted.
(r)	Foreign or U.S. Treasury inflation indexed note, par amount is adjusted for inflation.
(s)	Rule 144A or Section 4(2) of the Securities Act of 1933, as amended, which provides an exemption from the registration requirements for resale
	of this security to an institutional investor or restricted as to public resale.  See Restricted table in these Notes to the Schedules of Investments.
(t)	Rule 144A or Section 4(2) liquid security. Rule 144A or Section 4(2) of the Securities Act of 1933, as amended, which provides an exemption from the registration requirements
	for resale of this security to an institutional investor. The Fund deemed this security to be liquid based on procedures approved by the Trust's Board of Trustees.  As of March 31,
	2010, the value of Rule 144A and Section 4(2) liquid securities was as follows: JNL/Capital Guardian Global Balanced Fund, $289; JNL/Capital Guardian International Small Cap
	Fund, $976; JNL/Credit Suisse Commodity Securities Fund, $13,940; JNL/Franklin Templeton Income Fund $161,218; JNL/Goldman Sachs Core Plus Bond Fund $78,611;
	JNL/Ivy Asset Strategy Fund, $3,863; JNL/JPMorgan U.S. Government & Quality Bond Fund $4,793; JNL/Mellon Capital Management Bond Index Fund $2,194; JNL/PIMCO
	Real Return Fund, $137,294; JNL/PIMCO Total Return Fund, $182,980; JNL/PPM America High Yield Bond Fund, $189,664; JNL/Select Balanced Fund, $9,987; JNL/Select
	Money Market Fund, $7,800; and JNL/T. Rowe Price Short-Term Bond Fund, $104,258.
(u)	Illiquid security.  At March 31, 2010, the aggregate value of illiquid securities and percentage of net assets were as follows: JNL/AIM Global Real Estate Fund, $46 - 0.0%;
	JNL/Capital Guardian Global Balanced Fund $13,970 - 4.6%; JNL/Capital Guardian Global Diversified Research Fund, $13,690 - 3.7%; JNL/Capital Guardian International Small
	Cap Fund, $9,544 - 5.6%; JNL/Franklin Templeton Income Fund $26,188 - 3.3%; JNL/Franklin Templeton Mutual Shares Fund, $20,458- 4.3%; JNL/Goldman Sachs Core Plus
	Bond Fund $16,828 - 2.0%; JNL/JPMorgan MidCap Growth Fund, $606 - 0.3%; JNL/JPMorgan U.S. Government & Quality Bond Fund $6,354 - 0.9%; JNL/M&G Global Basics
	Fund, $3,104 - 2.4%; JNL/Mellon Capital Management International Index Fund, $73 - 0.0%; JNL/PIMCO Real Return Fund, $51,841 - 3.9%; JNL/PIMCO Total Return Bond
	Fund, $52,318 - 2.1% JNL/PPM America High Yield Bond Fund, $11,144 - 1.7%; JNL/T. Rowe Price Short-Term Bond Fund, $4,279 - 0.7%; and JNL/T. Rowe Price Value
	Fund, $1,244 - 0.1%. At March 31, 2010, the only illiquid security held by some Funds was Sigma Finance, Inc. For Funds not listed in detail, the value of Sigma Finance, Inc.
	as a percentage of net assets was less than 0.02%.
(v)	Contingent distributions represent the right to receive additional distributions, if any, during the reorganization of the underlying company.
(w)	The Fund had an unfunded loan commitment relating to this security at March 31, 2010.  See Unfunded Loan Commitments in these Notes to the Schedules of Investments.
(x)	Treasury inflation indexed note, par amount is not adjusted for inflation.

Currencies:	PEN - Peruvian Nuevo Sol	DAX - Deutscher Aktienindex
AUD - Australian Dollar	PHP - Philippine Peso	ETF - Exchange-Traded-Fund
ARS - Argentine Peso	PLN -  Polish Zloty	FSA - Financial Security Assurance Inc.
BRL - Brazilian Real	RUB - Russian Ruble	FTSE - Financial Times and the London Stock Exchange
CAD - Canadian Dollar	SEK - Swedish Krona	GDR - Global Depository Receipt
CHF - Swiss Franc	SGD - Singapore Dollar	IBEX - Iberia Index
CLP - Chilean Peso	THB - Thai Baht	LIBOR - London Interbank Offered Rate
CNY - Chinese Yuan	TRY - New Turkish Lira	MBIA - Municipal Bond Investors Assurance
COP - Colombian Peso	TWD - Taiwan Dollar	MBS - Mortgage Backed Security
DKK - Danish Krone	USD - United States Dollar	MIB - Milano Indice Borsa
EGP - Egyptian Pound	UYU - Uruguayan Peso	NYS - New York Registered Shares
EUR - European Currency Unit (Euro)	ZAR - South African Rand	REIT - Real Estate Investment Trust
GBP - British Pound	Abbreviations:	REMIC - Real Estate Mortgage Investment Conduit
HKD - Hong Kong Dollar	"-"  Amount rounds to less than one thousand	SPDR - Standard & Poor's Depository Receipt
HUF - Hungarian Forint	ABS - Asset Backed Security	SPI - Schedule Performance Index
IDR - Indonesian Rupiah	ADR - American Depositary Receipt	TBA - To Be Announced (Securities purchased on a delayed delivery basis)   .
ILS - Israeli New Shekels	AMBAC - AMBAC Indemnity Corp.	TSX - Toronto Stock Exchange
INR - Indian Rupee	ASX - Australian Stock Exchange	virt-x - a crossborder Recognized Investment Exchange
JPY - Japanese Yen	CAC - Cotation Assistee en Continu	Euro-Bobl - debt instrument issued by the Federal Republic of Germany with    .
KRW - Korean Won	CDX - Credit Default Swap Index	a term of 4.5 to 5.5 years
MXN - Mexican Peso	CPI - Consumer Price Index	Euro-Bund - debt instrument issued by the Federal Republic of Germany with    .
MYR - Malaysian Ringgit	CPURNSA - CPI Urban Consumers Index	a term of 8.5 to 10.5 years
NOK - Norwegian Krone	Non-Seasonably Adjusted
NZD - New Zealand Dollar

JNL Series Trust (Unaudited)

Notes to the Schedules of Investments (continued) (dollar amounts in thousands)

March 31, 2010

Security Valuation – The net asset value (“NAV”) of each Fund shall be determined as of the close of trading (generally, 4:00 PM Eastern Time) on each day the New York Stock Exchange (“NYSE”) is open for trading. Stocks traded on an exchange are generally valued at the official closing price of the exchange where the security is principally traded.  If there is no official closing price for the security, the security is priced based on prices furnished by independent pricing services approved by the Board and may be valued at the last quoted sale price on the exchange where the security is principally traded or final bid price in the absence of a sale.  Stocks not listed on a national or foreign stock exchange are ge nerally valued on the basis of prices furnished by approved pricing services and may be valued at the closing bid price on the over-the-counter market.  Investments in mutual funds are valued at the NAV per share determined as of the close of the NYSE on the valuation date.  The securities lending collateral funds, which provide daily liquidity, are valued as a practical expedient at the daily reported NAV of the funds as of the close of the NYSE on the valuation date.  All securities in the JNL/Select Money Market Fund, as permitted by compliance with applicable provisions under Rule 2(a)-7 under the 1940 Act, and other short-term securities maturing within sixty (60) days are valued at amortized cost unless it is determined that such practice does not approximate market value.  Debt securities are generally valued by approved pricing services.  If pricing services are unable to provide valuations, debt securities are valued at the most recent bid quotation or evaluated price, as applicable, obtained from a broker/dealer or widely used quotation system. Commodity-linked structured notes and credit-linked notes are valued by pricing models using observable inputs or at the most recent bid quotation obtained from a broker/dealer.  Options and futures contracts traded on a liquid exchange are valued at the last sales price as of the close of business on the local exchange.  Options traded on an illiquid exchange are valued at the most recent bid quotation obtained from a broker/dealer.  Forward foreign currency contracts are valued at the foreign currency exchange rate as of the close of the NYSE, unless Jackson National Asset Management, LLC (“JNAM”) or (“Adviser”) determines that such markets lack an appropriate level of liquidity at that time.  In such instances, the Funds will generally utilize foreign currency exchange rates as of the close of the London Stock Exchange.  Non-exchange tr aded derivatives such as options and swap agreements are generally valued by approved pricing services.  If the pricing services are unable to provide valuations, non-exchange traded derivatives are valued at the most recent bid quotation or evaluated price, as applicable, obtained from a broker/dealer or by pricing models using observable inputs. Pricing services utilized to value debt and derivatives securities may use various pricing techniques which take into account appropriate factors such as: yield; credit quality; coupon rate; maturity; type of issue; trading characteristics; call features; credit ratings; and other data, as well as broker quotes.

Market quotations may not be readily available for certain investments or it may be determined that a quotation for an investment does not represent market value.  In such instances, the investment is valued as determined in good faith using procedures adopted by the Board.  Situations that may require an investment to be fair valued include instances where a security is thinly traded, halted or restricted as to resale.  In addition, investments may be fair valued based on the occurrence of a significant event.  Significant events may be specific to a particular issuer, such as mergers, restructurings or defaults.  Alternatively, significant events may affect an entire market, such as natural disasters, government actions, and significant changes in value of U.S. securities markets. 
60;Under the procedures adopted by the Board, the Advise may rely on pricing services or other sources to assist in determining the fair value of an investment.  Factors considered to determine fair value may include the correlation with price movement of similar securities in the same or other markets; the type, cost and investment characteristics of the security; the business and financial condition of the issuer; and trading or other market data.  The Trust has retained an independent statistical fair value pricing service to assist in the fair valuation process for securities traded in foreign markets in order to adjust for possible changes in value that may occur between the close of the foreign exchange and the time at which the NAVs are determined.

If an investment is valued at a fair value for purposes of calculating a Fund’s NAV, the value may be different from the last quoted price for the investment depending on the source and method used to determine the value.  Although there can be no assurance, in general, the fair value of an investment is the amount the owner of such investment might reasonably expect to receive upon its current sale.

Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") Topic 820, “Fair Value Measurements and Disclosure” - This standard establishes a single authoritative definition of fair value, sets out a framework for measuring fair value and requires additional disclosures about fair value measurements.  Various inputs are used in determining the value of a Fund’s investments under FASB ASC Topic 820 guidance.  The inputs are summarized into three broad categories.  Level 1 includes valuations based on quoted prices of identical securities in active markets including valuations for securities listed on a national or foreign stock exchange or investments in mutual funds.  Level 2 inclu des valuations for which all significant inputs are observable, either directly or indirectly.  Direct observable inputs include broker quotes, closing prices of similar securities in active markets, closing prices for identical or similar securities in non-active markets or corporate action or reorganization entitlement values.  Indirect significant observable inputs include factors such as interest rates, yield curves, prepayment speeds or credit ratings.  Level 2 includes valuations for fixed income securities priced by pricing services, broker quotes in active markets, securities lending collateral, securities subject to corporate actions, international equity securities priced by an independent statistical fair value pricing service, swap agreements valued by pricing services, or ADRs and GDRs for which quoted prices in active markets are not available.  Level 3 includes valuations based on inputs that are unobservable and significant to the fair value measurement including the Adviser's own assumptions in determining the fair value of the investment.  Inputs used to determine the fair value of Level 3 securities include security specific inputs such as: credit quality, credit rating spreads, issuer news, trading characteristics, call features or maturity; or industry specific inputs such as: trading activity of similar markets or securities, changes in the security’s underlying index or comparable securities’ models.  Level 3 valuations include securities that are priced based on single source broker quotes, where prices may be unavailable due to halted trading, restricted to resale due to market events, newly issued or for which reliable quotes are not available.  The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

The following table summarizes each Fund's investments in securities and other financial instruments as of March 31, 2010 by valuation level.

		Assets - Securities				Liabilities - Securities
		Level 1	Level 2	Level 3	Total		Level 1	Level 2	Level 3	Total
JNL Institutional Alt 20 Fund
	Investment Funds	$    288,976	$                  -	$              -	$   288,976		$            -	$             -	$           -	$             -
JNL Institutional Alt 35 Fund
	Investment Funds	$    438,826	$                  -	$              -	$   438,826		$            -	$             -	$           -	$             -
JNL Institutional Alt 50 Fund
	Investment Funds	$    518,443	$                  -	$              -	$   518,443		$            -	$             -	$           -	$             -
JNL Institutional Alt 65 Fund
	Investment Funds	$    348,518	$                  -	$              -	$   348,518		$            -	$             -	$           -	$             -

JNL Series Trust (Unaudited)

Notes to the Schedules of Investments (continued) (dollar amounts in thousands)

March 31, 2010

FASB ASC Topic 820 "Fair Value Measurements and Disclosure" (continued)

		Assets - Securities				Liabilities - Securities
		Level 1	Level 2	Level 3	Total		Level 1	Level 2	Level 3	Total
JNL/AIM International Growth Fund
	Common Stocks	$    407,096	$                  -	$              -	$   407,096		$            -	$             -	$           -	$             -
	Non-U.S. Government Agency ABS	-	50	-	50		-	-	-	-
	Short-Term Securities	33,183	33,730	-	66,913		-	-	-	-
	Fund Total	$    440,279	$         33,780	$              -	$   474,059		$            -	$             -	$           -	$             -
JNL/AIM Large Cap Growth Fund
	Common Stocks	$    669,337	$                  -	$              -	$   669,337		$            -	$             -	$           -	$             -
	Non-U.S. Government Agency ABS	-	22	-	22		-	-	-	-
	Short-Term Securities	14,946	15,871	-	30,817		-	-	-	-
	Fund Total	$    684,283	$         15,893	$              -	$   700,176		$            -	$             -	$           -	$             -
JNL/AIM Global Real Estate Fund
	Common Stocks	$    387,738	$                  -	$              -	$   387,738		$            -	$             -	$           -	$             -
	Non-U.S. Government Agency ABS	-	169	-	169		-	-	-	-
	Short-Term Securities	15,910	35,922	-	51,832		-	-	-	-
	Fund Total	$    403,648	$         36,091	$              -	$   439,739		$            -	$             -	$           -	$             -
JNL/AIM Small Cap Growth Fund
	Common Stocks	$    102,719	$                  -	$              -	$   102,719		$            -	$             -	$           -	$             -
	Non-U.S. Government Agency ABS	-	12	-	12		-	-	-	-
	Short-Term Securities	5,382	12,935	-	18,317		-	-	-	-
	Fund Total	$    108,101	$         12,947	$              -	$   121,048		$            -	$             -	$           -	$             -
JNL/Capital Guardian Global Balanced Fund
	Common Stocks	$    195,838	$             289	$              -	$   196,127		$            -	$             -	$           -	$             -
	Preferred Stocks	1,926	-	-	1,926		-	-	-	-
	Non-U.S. Government Agency ABS	-	35	-	35		-	-	-	-
	Corporate Bond and Notes	-	19,749	-	19,749		-	-	-	-
	Government and Agency Obligations	-	77,586	458	78,044		-	-	-	-
	Short-Term Securities	8,887	21,330	-	30,217		-	-	-	-
	Fund Total	$    206,651	$       118,989	$         458	$   326,098		$            -	$             -	$           -	$             -
JNL/Capital Guardian Global Diversified Research Fund
	Common Stocks	$    354,307	$          2,221	$              -	$   356,528		$            -	$             -	$           -	$             -
	Non-U.S. Government Agency ABS	-	34	-	34		-	-	-	-
	Corporate Bond and Notes	-	301	-	301		-	-	-	-
	Short-Term Securities	13,277	22,810	-	36,087		-	-	-	-
	Fund Total	$    367,584	$        25,366	$              -	$   392,950		$            -	$             -	$           -	$             -
JNL/Capital Guardian International Small Cap Fund
	Common Stocks	$    145,094	$             928	$           11	$   146,033		$            -	$             -	$           -	$             -
	Preferred Stocks	182	-	-	182		-	-	-	-
	Investment Funds	6,685	-	-	6,685		-	-	-	-
	Rights	-	56	-	56		-	-	-	-
	Warrants	117	-	-	117		-	-	-	-
	Non-U.S. Government Agency ABS	-	9	-	9		-	-	-	-
	Corporate Bond and Notes	-	323	-	323		-	-	-	-
	Short-Term Securities	17,217	20,531	-	37,748		-	-	-	-
	Fund Total	$    169,295	$        21,847	$           11	$   191,153		$            -	$             -	$           -	$             -
JNL/Capital Guardian U.S. Growth Equity Fund
	Common Stocks	$    648,165	$                  -	$              -	$   648,165		$            -	$             -	$           -	$             -
	Investment Funds	15,149	-	-	15,149		-	-	-	-
	Non-U.S. Government Agency ABS	-	45	-	45		-	-	-	-
	Short-Term Securities	30,948	49,781	-	80,729		-	-	-	-
	Fund Total	$    694,262	$        49,826	$              -	$   744,088		$            -	$             -	$           -	$             -
JNL/Credit Suisse Commodity Securities Fund
	Common Stocks	$    337,632	$             162	$              -	$   337,794		$            -	$             -	$           -	$             -
	Investment Funds	14,517	-	-	14,517		-	-	-	-
	Non-U.S. Government Agency ABS	-	14	-	14		-	-	-	-
	Commodity Indexed Structured Notes	-	117,513	-	117,513		-	-	-	-
	Government and Agency Obligations	-	104,462	-	104,462		-	-	-	-
	Short-Term Securities	6,297	163,982	-	170,279		-	-	-	-
	Fund Total	$    358,446	$       386,133	$              -	$   744,579		$            -	$             -	$           -	$             -
JNL/Credit Suisse Long/Short Fund
	Common Stocks	$    127,713	$                  -	$              -	$   127,713		$ (29,212)	$             -	$           -	$  (29,212)
	Short-Term Securities	2,394	-	-	2,394		-	-	-	-
	Fund Total	$    130,107	$                  -	$              -	$   130,107		$ (29,212)	$             -	$           -	$  (29,212)
JNL/Eagle Core Equity Fund
	Common Stocks	$    139,882	$                  -	$              -	$   139,882		$            -	$             -	$           -	$             -
	Investment Funds	4,569	-	-	4,569		-	-	-	-
	Short-Term Securities	14,285	4,512	-	18,797		-	-	-	-
	Fund Total	$    158,736	$          4,512	$              -	$   163,248		$            -	$             -	$           -	$             -

JNL Series Trust (Unaudited)

Notes to the Schedules of Investments (continued) (dollar amounts in thousands)

March 31, 2010

FASB ASC Topic 820 "Fair Value Measurements and Disclosure" (continued)

		Assets - Securities				Liabilities - Securities
		Level 1	Level 2	Level 3	Total		Level 1	Level 2	Level 3	Total
JNL/Eagle SmallCap Equity Fund
	Common Stocks	$    309,018	$                  -	$              -	$    309,018		$            -	$             -	$           -	$             -
	Non-U.S. Government Agency ABS	-	54	-	54		-	-	-	-
	Short-Term Securities	5,571	35,004	-	40,575		-	-	-	-
	Fund Total	$    314,589	$         35,058	$              -	$    349,647		$            -	$             -	$           -	$             -
JNL/Franklin Templeton Founding Strategy Fund
	Investment Funds	$    906,124	$                  -	$              -	$    906,124		$            -	$             -	$           -	$             -
JNL/Franklin Templeton Global Growth Fund
	Common Stocks	$    379,986	$                  -	$              -	$    379,986		$            -	$             -	$           -	$             -
	Non-U.S. Government Agency ABS	-	22	-	22		-	-	-	-
	Short-Term Securities	27,378	18,479	-	45,857		-	-	-	-
	Fund Total	$    407,364	$         18,501	$              -	$    425,865		$            -	$             -	$           -	$             -
JNL/Franklin Templeton Income Fund
	Common Stocks	$    248,363	$                  -	$              -	$    248,363		$            -	$             -	$           -	$             -
	Preferred Stocks	8,936	37,599	-	46,535		-	-	-	-
	Warrants	159	-	-	159		-	-	-	-
	Non-U.S. Government Agency ABS	-	1,027	-	1,027		-	-	-	-
	Corporate Bond and Notes	-	462,090	15	462,105		-	-	-	-
	Government and Agency Obligations	-	2,561	-	2,561		-	-	-	-
	Short-Term Securities	36,878	113,247	-	150,125		-	-	-	-
	Fund Total	$    294,336	$       616,524	$           15	$    910,875		$            -	$             -	$           -	$             -
JNL/Franklin Templeton Mutual Shares Fund
	Common Stocks	$    386,533	$                  -	$       3,141	$    389,674		$            -	$             -	$           -	$             -
	Preferred Stocks	1,078	-	-	1,078		-	-	-	-
	Corporate Bond and Notes	-	20,868	604	21,472		-	-	-	-
	Short-Term Securities	68,467	14,167	-	82,634		-	-	-	-
	Fund Total	$    456,078	$         35,035	$       3,745	$    494,858		$            -	$             -	$           -	$             -
JNL/Franklin Templeton Small Cap Value Fund
	Common Stocks	$    187,592	$                  -	$              -	$    187,592		$            -	$             -	$           -	$             -
	Non-U.S. Government Agency ABS	-	27	-	27		-	-	-	-
	Short-Term Securities	26,693	17,286	-	43,979		-	-	-	-
	Fund Total	$    214,285	$         17,313	$              -	$    231,598		$            -	$             -	$           -	$             -
JNL/Goldman Sachs Core Plus Bond Fund
	Common Stocks	$               -	$                  -	$          189	$          189		$            -	$             -	$           -	$             -
	Non-U.S. Government Agency ABS	-	88,809	-	88,809		-	-	-	-
	Corporate Bond and Notes	-	280,851	449	281,300		-	-	-	-
	Government and Agency Obligations	-	416,799	-	416,799		-	-	-	-
	Short-Term Securities	109,910	44,904	-	154,814		-	-	-	-
	Fund Total	$    109,910	$      831,363	$          638	$   941,911		$            -	$             -	$           -	$             -
JNL/Goldman Sachs Emerging Markets Debt Fund
	Corporate Bond and Notes	$               -	$        19,594	$     21,138	$     40,732		$            -	$             -	$           -	$             -
	Government and Agency Obligations	-	299,494	4,022	303,516		-	-	-	-
	Short-Term Securities	66,806	-	-	66,806		-	-	-	-
	Fund Total	$      66,806	$       319,088	$     25,160	$   411,054		$            -	$             -	$           -	$             -
JNL/Goldman Sachs Mid Cap Value Fund
	Common Stocks	$    327,288	$                  -	$              -	$   327,288		$            -	$             -	$           -	$             -
	Non-U.S. Government Agency ABS	-	17	-	17		-	-	-	-
	Short-Term Securities	14,319	16,957	-	31,276		-	-	-	-
	Fund Total	$    341,607	$         16,974	$              -	$   358,581		$            -	$             -	$           -	$             -
JNL/Ivy Asset Strategy Fund
	Common Stocks	$    355,453	$                  -	$              -	$   355,453		$            -	$             -	$           -	$             -
	Preferred Stocks	2,880	3,863	-	6,743		-	-	-	-
	Purchased Options	260	-	-	260		-	-	-	-
	Precious Metals	42,391	-	-	42,391		-	-	-	-
	Rights	20	-	-	20		-	-	-	-
	Short-Term Securities	44,046	-	-	44,046		-	-	-	-
	Fund Total	$    445,050	$          3,863	$              -	$   448,913		$            -	$             -	$           -	$             -
JNL/JPMorgan International Value Fund
	Common Stocks	$    487,835	$                  -	$              -	$   487,835		$            -	$             -	$           -	$             -
	Preferred Stocks	3,633	-	-	3,633		-	-	-	-
	Rights	25	-	-	25		-	-	-	-
	Non-U.S. Government Agency ABS	-	73	-	73		-	-	-	-
	Short-Term Securities	10,681	37,719	-	48,400		-	-	-	-
	Fund Total	$    502,174	$        37,792	$              -	$   539,966		$            -	$             -	$           -	$             -

JNL Series Trust (Unaudited)

Notes to the Schedules of Investments (continued) (dollar amounts in thousands)

March 31, 2010

FASB ASC Topic 820 "Fair Value Measurements and Disclosure" (continued)

		Assets - Securities				Liabilities - Securities
		Level 1	Level 2	Level 3	Total	Level 1	Level 2	Level 3	Total
JNL/JPMorgan MidCap Growth Fund
	Common Stocks	$    176,271	$                  -	$         587	$   176,858	$            -	$             -	$           -	$             -
	Non-U.S. Government Agency ABS	-	19	-	19	-	-	-	-
	Short-Term Securities	2,281	10,843	-	13,124	-	-	-	-
	Fund Total	$    178,552	$         10,862	$         587	$   190,001	$            -	$             -	$           -	$             -
JNL/JPMorgan U.S. Government & Quality Bond Fund
	Non-U.S. Government Agency ABS	$               -	$         22,239	$         466	$     22,705	$            -	$             -	$           -	$             -
	Corporate Bond and Notes	-	6,751	-	6,751	-	-	-	-
	Government and Agency Obligations	-	671,523	-	671,523	-	-	-	-
	Short-Term Securities	21,644	51,338	-	72,982	-	-	-	-
	Fund Total	$      21,644	$       751,851	$         466	$   773,961	$            -	$             -	$           -	$             -
JNL/Lazard Emerging Markets Fund
	Common Stocks	$    778,526	$           7,223	$              -	$   785,749	$            -	$             -	$           -	$             -
	Preferred Stocks	32,229	-	-	32,229	-	-	-	-
	Non-U.S. Government Agency ABS	-	33	-	33	-	-	-	-
	Short-Term Securities	30,483	39,476	-	69,959	-	-	-	-
	Fund Total	$    841,238	$         46,732	$              -	$   887,970	$            -	$             -	$           -	$             -
JNL/Lazard Mid Cap Equity Fund
	Common Stocks	$    180,007	$                  -	$              -	$   180,007	$            -	$             -	$           -	$             -
	Non-U.S. Government Agency ABS	-	22	-	22	-	-	-	-
	Short-Term Securities	6,583	6,101	-	12,684	-	-	-	-
	Fund Total	$    186,590	$           6,123	$              -	$   192,713	$            -	$             -	$           -	$             -
JNL/M&G Global Basics Fund
	Common Stocks	$    121,375	$                  -	$              -	$   121,375	$            -	$             -	$           -	$             -
	Preferred Stocks	177	-	-	177	-	-	-	-
	Short-Term Securities	6,743	8,536	-	15,279	-	-	-	-
	Fund Total	$    128,295	$           8,536	$              -	$   136,831	$            -	$             -	$           -	$             -
JNL/M&G Global Leaders Fund
	Common Stocks	$      19,611	$                  -	$              -	$     19,611	$            -	$             -	$           -	$             -
	Preferred Stocks	496	-	-	496	-	-	-	-
	Short-Term Securities	523	1,554	-	2,077	-	-	-	-
	Fund Total	$      20,630	$           1,554	$              -	$     22,184	$            -	$             -	$           -	$             -
JNL/Mellon Capital Management 10 X 10 Fund
	Investment Funds	$    205,690	$                  -	$              -	$   205,690	$            -	$             -	$           -	$             -
JNL/Mellon Capital Management Index 5 Fund
	Investment Funds	$    236,962	$                  -	$              -	$   236,962	$            -	$             -	$           -	$             -
JNL/Mellon Capital Management European 30 Fund
	Common Stocks	$      15,325	$                  -	$              -	$     15,325	$            -	$             -	$           -	$             -
	Short-Term Securities	128	-	-	128	-	-	-	-
	Fund Total	$      15,453	$                  -	$              -	$     15,453	$            -	$             -	$           -	$             -
JNL/Mellon Capital Management Pacific Rim 30 Fund
	Common Stocks	$      25,846	$                  -	$              -	$     25,846	$            -	$             -	$           -	$             -
	Short-Term Securities	299	6,068	-	6,367	-	-	-	-
	Fund Total	$      26,145	$           6,068	$              -	$     32,213	$            -	$             -	$           -	$             -
JNL/Mellon Capital Management S&P 500 Index Fund
	Common Stocks	$ 1,058,659	$                  -	$              -	$1,058,659	$            -	$             -	$           -	$             -
	Non-U.S. Government Agency ABS	-	39	-	39	-	-	-	-
	Short-Term Securities	23,632	19,379	-	43,011	-	-	-	-
	Fund Total	$ 1,082,291	$         19,418	$              -	$1,101,709	$            -	$             -	$           -	$             -
JNL/Mellon Capital Management S&P 400 MidCap Index Fund
	Common Stocks	$    536,667	$                  -	$              -	$   536,667	$            -	$             -	$           -	$             -
	Non-U.S. Government Agency ABS	-	94	-	94	-	-	-	-
	Short-Term Securities	24,368	46,933	-	71,301	-	-	-	-
	Fund Total	$    561,035	$         47,027	$              -	$   608,062	$            -	$             -	$           -	$             -
JNL/Mellon Capital Management Small Cap Index Fund
	Common Stocks	$    552,309	$                  -	$              -	$   552,309	$            -	$             -	$           -	$             -
	Non-U.S. Government Agency ABS	-	112	-	112	-	-	-	-
	Short-Term Securities	16,479	90,091	-	106,570	-	-	-	-
	Fund Total	$    568,788	$         90,203	$              -	$   658,991	$            -	$             -	$           -	$             -

JNL Series Trust (Unaudited)

Notes to the Schedules of Investments (continued) (dollar amounts in thousands)

March 31, 2010

FASB ASC Topic 820 "Fair Value Measurements and Disclosure" (continued)

		Assets - Securities				Liabilities - Securities
		Level 1	Level 2	Level 3	Total	Level 1	Level 2	Level 3	Total
JNL/Mellon Capital Management International Index Fund
	Common Stocks	$    822,708	$           2,060	$             6	$   824,774	$            -	$             -	$           -	$             -
	Preferred Stocks	3,939	-	-	3,939	-	-	-	-
	Rights	8	1	-	9	-	-	-	-
	Non-U.S. Government Agency ABS	-	73	-	73	-	-	-	-
	Short-Term Securities	29,697	88,260	-	117,957	-	-	-	-
	Fund Total	$    856,352	$         90,394	$             6	$   946,752	$            -	$             -	$           -	$             -
JNL/Mellon Capital Management Bond Index Fund
	Non-U.S. Government Agency ABS	$               -	$         33,409	$              -	$     33,409	$            -	$             -	$           -	$             -
	Corporate Bond and Notes	-	194,517	-	194,517	-	-	-	-
	Government and Agency Obligations	-	697,835	-	697,835	-	-	-	-
	Short-Term Securities	36,051	69,444	-	105,495	-	-	-	-
	Fund Total	$      36,051	$       995,205	$              -	$1,031,256	$            -	$             -	$           -	$             -
JNL/Mellon Capital Management Global Alpha Fund
	Short-Term Securities	$        4,440	$         90,829	$              -	$     95,269	$            -	$             -	$           -	$             -
JNL/Oppenheimer Global Growth Fund
	Common Stocks	$     321,541	$               39	$       1,953	$   323,533	$            -	$             -	$           -	$             -
	Preferred Stocks	1,991	-	-	1,991	-	-	-	-
	Non-U.S. Government Agency ABS	-	33	-	33	-	-	-	-
	Corporate Bond and Notes	-	233	-	233	-	-	-	-
	Short-Term Securities	12,264	26,850	-	39,114	-	-	-	-
	Fund Total	$    335,796	$         27,155	$       1,953	$   364,904	$            -	$             -	$           -	$             -
JNL/PAM Asia ex-Japan Fund
	Common Stocks	$    106,294	$                  -	$              -	$   106,294	$            -	$             -	$           -	$             -
	Non-U.S. Government Agency ABS	-	1	-	1	-	-	-	-
	Short-Term Securities	1,839	4,394	-	6,233	-	-	-	-
	Fund Total	$    108,133	$            4,395	$              -	$   112,528	$            -	$             -	$           -	$             -
JNL/PAM China-India Fund
	Common Stocks	$    248,908	$                   -	$              -	$   248,908	$            -	$             -	$           -	$             -
	Non-U.S. Government Agency ABS	-	2	-	2	-	-	-	-
	Short-Term Securities	8,473	30,224	-	38,697	-	-	-	-
	Fund Total	$     257,381	$          30,226	$              -	$   287,607	$            -	$             -	$           -	$             -
JNL/PIMCO Real Return Fund
	Preferred Stocks	$           487	$                   -	$              -	$          487	$            -	$             -	$           -	$             -
	Non-U.S. Government Agency ABS	-	133,019	8,686	141,705	-	-	-	-
	Corporate Bond and Notes	-	383,295	-	383,295	-	-	-	-
	Government and Agency Obligations	-	1,159,543	-	1,159,543	-	-	-	-
	Short-Term Securities	2,210	195,857	-	198,067	-	-	-	-
	Fund Total	$        2,697	$     1,871,714	$      8,686	$1,883,097	$            -	$             -	$           -	$             -
JNL/PIMCO Total Return Bond Fund
	Preferred Stocks	$           447	$           1,092	$      3,407	$       4,946	$            -	$             -	$           -	$             -
	Non-U.S. Government Agency ABS	-	157,944	-	157,944	-	-	-	-
	Corporate Bond and Notes	-	690,485	-	690,485	-	-	-	-
	Government and Agency Obligations	4,617	832,792	182	837,591	-	(4,278)	-	(4,278)
	Short-Term Securities	7,451	1,164,249	-	1,171,700	-	-	-	-
	Fund Total	$      12,515	$     2,846,562	$      3,589	$2,862,666	$            -	$    (4,278)	$           -	$    (4,278)
JNL/PPM America High Yield Bond Fund
	Common Stocks	$        7,299	$                  -	$         165	$       7,464	$            -	$             -	$           -	$             -
	Preferred Stocks	64	1,314	-	1,378	-	-	-	-
	Investment Funds	3,966	-	-	3,966	-	-	-	-
	Rights	62	-	-	62	-	-	-	-
	Non-U.S. Government Agency ABS	-	29,998	-	29,998	-	-	-	-
	Corporate Bond and Notes	-	570,647	1,853	572,500	-	-	-	-
	Short-Term Securities	37,143	145,557	-	182,700	-	-	-	-
	Fund Total	$      48,534	$       747,516	$      2,018	$   798,068	$            -	$             -	$           -	$             -
JNL/PPM America Mid Cap Value Fund
	Common Stocks	$      37,591	$                  -	$              -	$     37,591	$            -	$             -	$           -	$             -
	Non-U.S. Government Agency ABS	-	1	-	1	-	-	-	-
	Short-Term Securities	792	477	-	1,269	-	-	-	-
	Fund Total	$      38,383	$              478	$              -	$     38,861	$            -	$             -	$           -	$             -
JNL/PPM America Small Cap Value Fund
	Common Stocks	$      31,303	$                  -	$              -	$     31,303	$            -	$             -	$           -	$             -
	Short-Term Securities	765	1,019	-	1,784	-	-	-	-
	Fund Total	$      32,068	$           1,019	$              -	$     33,087	$            -	$             -	$           -	$             -

JNL Series Trust (Unaudited)

Notes to the Schedules of Investments (continued) (dollar amounts in thousands)

March 31, 2010

FASB ASC Topic 820 "Fair Value Measurements and Disclosure" (continued)

		Assets - Securities				Liabilities - Securities
		Level 1	Level 2	Level 3	Total	Level 1	Level 2	Level 3	Total
JNL/PPM America Value Equity Fund
	Common Stocks	$    105,381	$                  -	$              -	$   105,381	$            -	$             -	$           -	$             -
	Non-U.S. Government Agency ABS	-	14	-	14	-	-	-	-
	Short-Term Securities	453	2,090	-	2,543	-	-	-	-
	Fund Total	$    105,834	$           2,104	$              -	$   107,938	$            -	$             -	$           -	$             -
JNL/Red Rocks Listed Private Equity Fund
	Common Stocks	$    330,194	$                  -	$              -	$   330,194	$            -	$             -	$           -	$             -
	Short-Term Securities	9,655	8,755	-	18,410	-	-	-	-
	Fund Total	$    339,849	$           8,755	$              -	$   348,604	$            -	$             -	$           -	$             -
JNL/S&P Managed Conservative Fund
	Investment Funds	$    697,541	$                  -	$              -	$   697,541	$            -	$             -	$           -	$             -
JNL/S&P Managed Moderate Fund
	Investment Funds	$ 1,169,569	$                  -	$              -	$1,169,569	$            -	$             -	$           -	$             -
JNL/S&P Managed Moderate Growth Fund
	Investment Funds	$ 2,026,481	$                  -	$              -	$2,026,481	$            -	$             -	$           -	$             -
JNL/S&P Managed Growth Fund
	Investment Funds	$ 1,628,942	$                  -	$              -	$1,628,942	$            -	$             -	$           -	$             -
JNL/S&P Managed Aggressive Growth Fund
	Investment Funds	$    638,558	$                  -	$              -	$   638,558	$            -	$             -	$           -	$             -
JNL/S&P Disciplined Moderate Fund
	Investment Funds	$    209,597	$                  -	$              -	$   209,597	$            -	$             -	$           -	$             -
	Non-U.S. Government Agency ABS	-	1	-	1	-	-	-	-
	Fund Total	$    209,597	$                 1	$              -	$   209,598	$            -	$             -	$           -	$             -
JNL/S&P Disciplined Moderate Growth Fund
	Investment Funds	$    260,287	$                  -	$              -	$   260,287	$            -	$             -	$           -	$             -
JNL/S&P Disciplined Growth Fund
	Investment Funds	$      93,001	$                  -	$              -	$     93,001	$            -	$             -	$           -	$             -
	Non-U.S. Government Agency ABS	-	1	-	1	-	-	-	-
	Fund Total	$      93,001	$                 1	$              -	$     93,002	$            -	$             -	$           -	$             -
JNL/S&P Competitive Advantage Fund
	Common Stocks	$    280,088	$                  -	$              -	$   280,088	$            -	$             -	$           -	$             -
	Non-U.S. Government Agency ABS	-	13	-	13	-	-	-	-
	Short-Term Securities	1,703	15,934	-	17,637	-	-	-	-
	Fund Total	$    281,791	$         15,947	$              -	$   297,738	$            -	$             -	$           -	$             -
JNL/S&P Dividend Income & Growth Fund
	Common Stocks	$    277,005	$                  -	$              -	$   277,005	$            -	$             -	$           -	$             -
	Non-U.S. Government Agency ABS	-	13	-	13	-	-	-	-
	Short-Term Securities	3,142	12,946	-	16,088	-	-	-	-
	Fund Total	$    280,147	$         12,959	$              -	$   293,106	$            -	$             -	$           -	$             -
JNL/S&P Intrinsic Value Fund
	Common Stocks	$    291,379	$                  -	$              -	$   291,379	$            -	$             -	$           -	$             -
	Non-U.S. Government Agency ABS	-	24	-	24	-	-	-	-
	Short-Term Securities	3,346	21,964	-	25,310	-	-	-	-
	Fund Total	$    294,725	$         21,988	$              -	$   316,713	$            -	$             -	$           -	$             -
JNL/S&P Total Yield Fund
	Common Stocks	$    243,229	$                  -	$              -	$   243,229	$            -	$             -	$           -	$             -
	Non-U.S. Government Agency ABS	-	31	-	31	-	-	-	-
	Short-Term Securities	2,955	18,822	-	21,777	-	-	-	-
	Fund Total	$    246,184	$         18,853	$              -	$   265,037	$            -	$             -	$           -	$             -
JNL/S&P 4 Fund
	Investment Funds	$    711,636	$                  -	$              -	$   711,636	$            -	$             -	$           -	$             -
JNL/Select Balanced Fund
	Common Stocks	$    545,381	$                  -	$              -	$   545,381	$            -	$             -	$           -	$             -
	Non-U.S. Government Agency ABS	-	7,960	-	7,960	-	-	-	-
	Corporate Bond and Notes	-	69,816	-	69,816	-	-	-	-
	Government and Agency Obligations	-	167,547	-	167,547	-	-	-	-
	Short-Term Securities	76,524	35,163	-	111,687	-	-	-	-
	Fund Total	$    621,905	$      280,486	$              -	$   902,391	$            -	$             -	$           -	$             -
JNL/Select Money Market Fund
	Short-Term Securities	$             74	$      739,647	$              -	$   739,721	$            -	$             -	$           -	$             -

JNL Series Trust (Unaudited)

Notes to the Schedules of Investments (continued) (dollar amounts in thousands)

March 31, 2010

FASB ASC Topic 820 "Fair Value Measurements and Disclosure" (continued)

		Assets - Securities				Liabilities - Securities
		Level 1	Level 2	Level 3	Total	Level 1	Level 2	Level 3	Total
JNL/Select Value Fund
	Common Stocks	$    852,969	$                  -	$              -	$   852,969	$            -	$             -	$           -	$             -
	Non-U.S. Government Agency ABS	-	27	-	27	-	-	-	-
	Short-Term Securities	25,385	3,328	-	28,713	-	-	-	-
	Fund Total	$    878,354	$           3,355	$              -	$   881,709	$            -	$             -	$           -	$             -
JNL/T. Rowe Price Established Growth Fund
	Common Stocks	$ 1,137,609	$                  -	$              -	$1,137,609	$            -	$             -	$           -	$             -
	Non-U.S. Government Agency ABS	-	74	-	74	-	-	-	-
	Short-Term Securities	10,249	57,241	-	67,490	-	-	-	-
	Fund Total	$ 1,147,858	$         57,315	$              -	$1,205,173	$            -	$             -	$           -	$             -
JNL/T. Rowe Price Mid-Cap Growth Fund
	Common Stocks	$    925,383	$                  -	$              -	$   925,383	$            -	$             -	$           -	$             -
	Non-U.S. Government Agency ABS	-	99	-	99	-	-	-	-
	Short-Term Securities	53,092	87,784	-	140,876	-	-	-	-
	Fund Total	$    978,475	$         87,883	$              -	$1,066,358	$            -	$             -	$           -	$             -
JNL/T. Rowe Price Short-Term Bond Fund
	Investment Funds	$               -	$                  -	$      2,845	$       2,845	$            -	$             -	$           -	$             -
	Non-U.S. Government Agency ABS	-	56,431	1,815	58,246	-	-	-	-
	Corporate Bond and Notes	-	316,333	-	316,333	-	-	-	-
	Government and Agency Obligations	-	216,970	-	216,970	-	-	-	-
	Short-Term Securities	31,083	11,229	-	42,312	-	-	-	-
	Fund Total	$      31,083	$       600,963	$      4,660	$   636,706	$            -	$             -	$           -	$             -
JNL/T. Rowe Price Value Fund
	Common Stocks	$    840,917	$                  -	$              -	$   840,917	$            -	$             -	$           -	$             -
	Preferred Stocks	5,379	4,196	-	9,575	-	-	-	-
	Investment Funds	7,502	-	-	7,502	-	-	-	-
	Non-U.S. Government Agency ABS	-	47	-	47	-	-	-	-
	Corporate Bond and Notes	-	3,501	-	3,501	-	-	-	-
	Short-Term Securities	20,956	29,159	-	50,115	-	-	-	-
	Fund Total	$    874,754	$         36,903	$              -	$   911,657	$            -	$             -	$           -	$             -
		Assets - Other Financial Instruments1				Liabilities - Other Financial Instruments1
		Level 1	Level 2	Level 3	Total	Level 1	Level 2	Level 3	Total
JNL/Capital Guardian Global Balanced Fund
	Open Forward Foreign Currency Contracts	$               -	$             529	$              -	$           529	$            -	$       (217)	$           -	$       (217)
JNL/Capital Guardian Global Diversified Research Fund
	Open Forward Foreign Currency Contracts	$               -	$               90	$              -	$             90	$            -	$           (6)	$           -	$           (6)
JNL/Franklin Templeton Mutual Shares Fund
	Open Forward Foreign Currency Contracts	$               -	$             612	$              -	$           612	$            -	$       (767)	$           -	$       (767)
JNL/Goldman Sachs Core Plus Bond Fund
	Open Future Contracts	$        4,281	$                 -	$              -	$        4,281	$      (911)	$             -	$           -	$       (911)
	Open Forward Foreign Currency Contracts	-	3,016	-	3,016	-	(351)	-	(351)
	Interest Rate Swap Agreements	-	3,354	-	3,354	-	(2,052)	-	(2,052)
	Credit Default Swap Agreements	-	-	-	-	-	(4)	-	(4)
Fund Total		$        4,281	$          6,370	$              -	$      10,651	$      (911)	$    (2,407)	$           -	$    (3,318)
JNL/Goldman Sachs Emerging Markets Debt Fund
	Open Forward Foreign Currency Contracts	$               -	$          1,734	$              -	$        1,734	$            -	$    (1,199)	$           -	$    (1,199)
	Interest Rate Swap Agreements	-	1,466	-	1,466	-	-	-	-
	Total Return Swap Agreements	-	-	160	160	-	-	-	-
Fund Total		$               -	$          3,200	$         160	$        3,360	$            -	$    (1,199)	$           -	$    (1,199)
JNL/Ivy Asset Strategy Fund
	Written Options	$               -	$                  -	$              -	$               -	$      (915)	$             -	$           -	$       (915)
	Open Future Contracts	-	-	-	-	(448)	-	-	(448)
	Open Forward Foreign Currency Contracts	-	163	-	163	-	(502)	-	(502)
Fund Total		$               -	$             163	$              -	$          163	$   (1,363)	$       (502)	$           -	$    (1,865)
JNL/JPMorgan International Value Fund
	Open Forward Foreign Currency Contracts	$               -	$             313	$              -	$          313	$            -	$       (151)	$           -	$       (151)
JNL/Mellon Capital Management S&P 500 Index Fund
	Open Future Contracts	$               -	$                  -	$              -	$               -	$      (151)	$             -	$           -	$       (151)
JNL/Mellon Capital Management S&P 400 MidCap Index Fund
	Open Future Contracts	$               -	$                  -	$              -	$               -	$        (28)	$             -	$           -	$         (28)
JNL/Mellon Capital Management Small Cap Index Fund
	Open Future Contracts	$               5	$                  -	$              -	$              5	$            -	$             -	$           -	$             -
JNL/Mellon Capital Management International Index Fund
	Open Future Contracts	$                -	$                  -	$              -	$               -	$      (623)	$             -	$           -	$       (623)
	Open Forward Foreign Currency Contracts	-	4,525	-	4,525	-	(500)	-	(500)
Fund Total		$                -	$          4,525	$              -	$       4,525	$      (623)	$       (500)	$           -	$    (1,123)

JNL Series Trust (Unaudited)

Notes to the Schedules of Investments (continued) (dollar amounts in thousands)

March 31, 2010

FASB ASC Topic 820 "Fair Value Measurements and Disclosure" (continued)

		Assets - Other Financial Instruments1				Liabilities - Other Financial Instruments1
		Level 1	Level 2	Level 3	Total	Level 1	Level 2	Level 3	Total
JNL/Mellon Capital Management Global Alpha Fund
	Open Future Contracts	$           511	$                  -	$              -	$          511	$      (459)	$             -	$           -	$       (459)
	Open Forward Foreign Currency Contracts	-	1,054	-	1,054	-	(2,987)	-	(2,987)
Fund Total		$           511	$          1,054	$              -	$       1,565	$      (459)	$    (2,987)	$           -	$    (3,446)
JNL/PIMCO Real Return Fund
	Written Options	$               -	$                  -	$              -	$               -	$      (174)	$       (714)	$           -	$       (888)
	Open Future Contracts	819	-	-	819	(284)	-	-	(284)
	Open Forward Foreign Currency Contracts	-	875	-	875	-	(235)	-	(235)
	Interest Rate Swap Agreements	-	766	-	766	-	(96)	-	(96)
	Credit Default Swap Agreements	-	1,580	-	1,580	-	(220)	-	(220)
Fund Total		$           819	$          3,221	$              -	$       4,040	$      (458)	$    (1,265)	$           -	$    (1,723)
JNL/PIMCO Total Return Bond Fund
	Written Options	$               -	$                  -	$              -	$               -	$      (818)	$    (1,114)	$           -	$    (1,932)
	Open Future Contracts	336	-	-	336	(809)	-	-	(809)
	Open Forward Foreign Currency Contracts	-	247	-	247	-	(513)	-	(513)
	Interest Rate Swap Agreements	-	5,963	-	5,963	-	(404)	-	(404)
	Credit Default Swap Agreements	-	1,192	-	1,192	-	(34)	-	(34)
Fund Total		$           336	$          7,402	$              -	$       7,738	$   (1,627)	$    (2,066)	$           -	$    (3,693)
JNL/T. Rowe Price Short-Term Bond Fund
	Open Forward Foreign Currency Contracts	$               -	$               38	$              -	$            38	$            -	$         (22)	$           -	$         (22)

1	Investments in other financial instruments are derivative instruments not reflected in the Schedules of  Investments and include, but are not limited to forward foreign currency
	contracts, futures contracts, options written, and swap agreements.  All derivatives, except for options written are reflected at the unrealized appreciation/(depreciation) on the
	instrument. Written options are reflected at value.

The only significant transfers in and out of Level 1 and Level 2 during the period ended March 31, 2010 were due to pricing using the International Fair Value Model.  Securities which are valued using the independent statistical fair value pricing service are classified as Level 2.  Therefore, a significant portion of the investments may be classified as Level 1 or Level 2 on any particular day depending on the existence of such pre-requisite conditions.  These securities were valued as Level 2 on December 31, 2009 and valued as Level 1 on March 31, 2010.

The following table is a rollforward of Level 3 investments by category for which significant unobservable inputs were used to determine fair value:           

									Change In
									Unrealized
									Appreciation/
					Total				(Depreciation)
			Transfers	Transfers	Realized and				During the Period
		Balance at	Into Level	Out of Level	Change in			Balance at	For Level 3
		Beginning	3 During	3 During the	Unrealized			End of	Investments held
		of Period	the Period	Period	Gain/(Loss)	Purchases	(Sales)	Period	at End of Period
JNL/Capital Guardian Global Balanced Fund
	Government and Agency Obligations	$         147	$               -	$                  -	$           14	$          297	$            -	$         458		$           14
	Fund Total Investments in Securities	$         147	$               -	$                  -	$           14	$          297	$            -	$         458		$           14
JNL/Capital Guardian International Small Cap Fund
	Common Stocks	$           12	$               -	$                  -	$            (1)	$               -	$            -	$           11		$           (1)
	Fund Total Investments in Securities	$           12	$               -	$                  -	$            (1)	$               -	$            -	$           11		$           (1)
JNL/Franklin Templeton Income Fund
	Corporate Bond and Notes	$              -	$             14	$                  -	$             1	$               -	$            -	$           15		$             1
	Fund Total Investments in Securities	$              -	$             14	$                  -	$             1	$               -	$            -	$           15		$             1
JNL/Franklin Templeton Mutual Shares Fund
	Common Stocks	$         965	$               -	$                  -	$         225	$       1,951	$            -	$      3,141		$         225
	Corporate Bond and Notes	391	-	-	213	-	-	604		213
	Fund Total Investments in Securities	$      1,356	$               -	$                  -	$         438	$       1,951	$            -	$      3,745		$         438
JNL/Goldman Sachs Core Plus Bond Fund
	Common Stocks	$             9	$               -	$                  -	$         180	$               -	$            -	$         189		$         180
	Corporate Bond and Notes	424	-	-	25	-	-	449		25
	Non-U.S. Government Agency ABS	1,762	-	(1,762)	-	-	-	-		-
	Government and Agency Obligations	1,216	-	-	(60)	-	(1,156)	-		-
	Fund Total Investments in Securities	$      3,411	$               -	$        (1,762)	$         145	$               -	$   (1,156)	$         638		$         205
JNL/Goldman Sachs Emerging Markets Debt Fund
	Corporate Bond and Notes	$    14,512	$               -	$        (4,092)	$         872	$     14,636	$   (4,790)	$    21,138		$         802
	Government and Agency Obligations	-	-	-	121	3,901	-	4,022		121
	Fund Total Investments in Securities	$    14,512	$               -	$        (4,092)	$         993	$     18,537	$   (4,790)	$    25,160		$         923
	Investments in Other Financial Instruments1
	Total Return Swap Agreements	$           42	$               -	$                  -	$         118	$               -	$            -	$         160		$         118
	Fund Total Investments in Other Financial Instruments	$           42	$               -	$                  -	$         118	$               -	$            -	$         160		$         118
JNL/JPMorgan MidCap Growth Fund
	Common Stocks	$         440	$               -	$                  -	$         147	$               -	$            -	$         587		$         147
	Fund Total Investments in Securities	$         440	$               -	$                  -	$         147	$               -	$            -	$         587		$        147

JNL Series Trust (Unaudited)

Notes to the Schedules of Investments (continued) (dollar amounts in thousands)

March 31, 2010

FASB ASC Topic 820 "Fair Value Measurements and Disclosure" (continued)

									Change In
									Unrealized
									Appreciation/
					Total				(Depreciation)
			Transfers	Transfers	Realized and				During the Period
		Balance at	Into Level	Out of Level	Change in			Balance at	For Level 3
		Beginning	3 During	3 During the	Unrealized			End of	Investments held
		of Period	the Period	Period	Gain/(Loss)	Purchases	(Sales)	Period	at End of Period
JNL/JPMorgan U.S. Government & Quality Bond Fund
	Non-U.S. Government Agency ABS	$         506	$               -	$                  -	$              -	$               -	$        (40)	$         466		$             -
	Fund Total Investments in Securities	$         506	$               -	$                  -	$              -	$               -	$        (40)	$         466		$             -
JNL/Lazard Emerging Markets Fund
	Common Stocks	$      5,840	$               -	$        (5,840)	$              -	$               -	$            -	$             -		$             -
	Fund Total Investments in Securities	$      5,840	$               -	$        (5,840)	$              -	$               -	$            -	$             -		$             -
JNL/Mellon Capital Management International Index Fund
	Common Stocks	$              -	$               7	$                  -	$            (1)	$               -	$            -	$             6		$           (1)
	Fund Total Investments in Securities	$              -	$               7	$                  -	$            (1)	$               -	$            -	$             6		$           (1)
JNL/Oppenheimer Global Growth Fund
	Common Stocks	$              -	$               -	$                  -	$          (67)	$       2,020	$            -	$      1,953		$           67
	Fund Total Investments in Securities	$              -	$               -	$                  -	$          (67)	$       2,020	$            -	$      1,953		$           67
JNL/PIMCO Real Return Fund
	Non-U.S. Government Agency ABS	$              -	$               -	$                  -	$           26	$       8,660	$            -	$      8,686		$           26
	Government and Agency Obligations	1,995	-	(1,995)	-	-	-	-		-
	Fund Total Investments in Securities	$      1,995	$               -	$        (1,995)	$           26	$       8,660	$            -	$      8,686		$           26
JNL/PIMCO Total Return Bond Fund
	Corporate Bond and Notes	$         149	$               -	$           (149)	$              -	$               -	$            -	$             -		$             -
	Preferred Stocks	3,709	-	-	(302)	-	-	3,407		(302)
	Government and Agency Obligations	183	-	-	-	-	(1)	182		-
	Fund Total Investments in Securities	$      4,041	$               -	$           (149)	$        (302)	$               -	$          (1)	$      3,589		$       (302)
JNL/PPM America High Yield Bond Fund
	Common Stocks	$           10	$               -	$                  -	$         155	$               -	$            -	$         165		$         155
	Corporate Bond and Notes	1,616	-	-	237	-	-	1,853		237
	Fund Total Investments in Securities	$      1,626	$               -	$                  -	$         392	$               -	$            -	$      2,018		$         392
JNL/T. Rowe Price Short-Term Bond Fund
	Investment Funds	$      1,702	$               -	$                  -	$         197	$       6,187	$   (5,241)	$      2,845		$           27
	Non-U.S. Government Agency ABS	1,572	-	(1,572)	-	1,815	-	1,815		-
	Fund Total Investments in Securities	$      3,274	$               -	$        (1,572)	$         197	$       8,002	$   (5,241)	$      4,660		$           27

1	Investments in other financial instruments are derivative instruments not reflected in the Schedules of Investments and include, but are not limited to forward foreign currency
	contracts, futures contracts, options written, and swap agreements.  All derivatives, except for options written are reflected at the unrealized appreciation/(depreciation) on the
	instrument. Written options are reflected at value.

Securities Lending and Securities Lending Collateral -A Fund may lend securities to certain brokers, dealers or other financial institutions in order to earn additional income.  The borrowers pay the Funds’ securities lending agent negotiated lender fees and the Funds receive a fee equal to a percentage of the negotiated lender fees and the net income generated by the securities lending collateral held during each lending transaction.  The securities lending agent is authorized to loan securities on behalf of the Funds to approved borrowers and is required to maintain collateral at least equal to the value of the securities loaned based on the previous day’s value of the securities loaned, marked to market daily.  Any shortf alls are adjusted the next business day.  In the event of bankruptcy or other default of the borrower, a Fund could experience delays in liquidating the loan collateral or recovering the loaned securities and incur expenses related to enforcing its rights.  In addition, there could be a decline in the value of the collateral or in the value of the securities loaned while a Fund seeks to enforce its rights thereto and the Fund could experience subnormal levels of income or lack of access to income during that period.  The Funds also bear the risk of any deficiency in the amount of collateral available for return to a borrower due to a loss in an approved investment.

JPMorgan Chase Bank, N.A. (“JPM Chase”) or (“Custodian”) serves as custodian and securities lending agent  to the Trust.  The Funds have cash collateral invested in the Securities Lending Cash Collateral Fund LLC and the Securities Lending Liquidating Fund LLC, both separate limited liability companies sponsored by the Adviser.  As the assets in the Securities Lending Liquidating Fund LLC mature or are liquidated, the proceeds are invested in the Securities Lending Cash Collateral Fund LLC.  Although the Securities Lending Cash Collateral Fund LLC is not a registered fund under the 1940 Act, it typically invests in high quality U.S. dollar-denominated instruments that qualify at time of purchase as “eligible securities” within the meaning of Rule 2(a)-7 under the 19 40 Act, which governs money market funds.

At March 31, 2010, the value of the Securities Lending Cash Collateral Fund LLC and the value of the Securities Lending Liquidating Fund LLC was $1.00 per unit.  Values were determined using methodologies consistent with those previously described in Security Valuation.  Each Fund is responsible for returning the full amount of collateral received for a particular loan when the borrower returns the applicable security.  The fair value and par value of the investment in the Securities Lending Cash Collateral Fund LLC and the Securities Lending Liquidating Fund LLC are reported under Securities Lending Collateral in the Schedules of Investments.

JNL Series Trust (Unaudited)

Notes to the Schedules of Investments (continued)(dollar amounts in thousands)

March 31, 2010

Restricted Securities - Restricted securities are often purchased in private placement transactions and cannot be sold without prior registration unless the sale is pursuant to an exemption under the Securities Exchange Act of 1933.  The following table details restricted securities as well as including Rule 144A securities that have not been deemed liquid, held by the Funds at March 31, 2010.

				Value
		Acquisition		End	Percent of
		Date	Cost	of Period	Net Assets
JNL/Capital Guardian Global Balanced Fund
	AES Panama SA, 6.35%, 12/12/16	01/04/2008	$                  297	$         306	0.1	%
	Altegrity Inc., 10.50%, 11/01/15	07/27/2009	153	188	0.1
	Anhanguera Educacional Participacoes SA	12/10/2009	512	563	0.2
	ASAT Holdings Ltd. 07/24/11	01/04/2008	-	-	-
	ASAT Holdings Ltd., 13.00%	07/28/2006	1	-	-
	AXA SA	11/28/2007	339	296	0.1
	Barclays Plc	12/21/2006	1,119	1,374	0.4
	BAT International Finance Plc, 8.13%, 11/15/13	03/03/2009	160	176	0.1
	BNP Paribas	11/28/2007	1,103	984	0.3
	CapitaMalls Asia Ltd.	11/18/2009	395	405	0.1
	Charter Communications Operating LLC, 8.38%, 04/30/14	12/13/2007	196	206	0.1
	China Longyuan Power Group Corp.	12/08/2009	251	280	0.1
	Croatia Government International Bond, 6.75%, 11/05/19	10/30/2009	630	688	0.2
	DBS Bank Ltd. Singapore, 7.88%, 04/15/10	06/05/2008	150	150	-
	DLF Ltd.	02/18/2008	1,931	1,658	0.6
	Dominican Republic International Bond, 8.63%, 04/20/27	12/17/2009	158	159	0.1
	E.ON International Finance BV, 5.80%, 04/30/18	01/13/2010	545	541	0.2
	Evergreen Energy Inc., 8.00%, 08/01/12	07/25/2007	60	25	-
	Hypermarcas SA	07/16/2009	515	636	0.2
	Lafarge SA	11/28/2007	637	656	0.2
	Liberty Mutual Group Inc., 7.50%, 08/15/36	08/06/2009	263	338	0.1
	Marfrig Frigorificos e Comercio de Alimentos SA	11/13/2009	1,128	1,189	0.4
	Roche Holdings Inc., 6.00%, 03/01/19	05/18/2009	419	442	0.1
	Societe Generale, 5.75%, 04/20/16	08/07/2008	143	159	0.1
	Standard Chartered Bank, 6.40%, 09/26/17	12/18/2007	299	317	0.1
	Sumitomo Mitsui Financial Group Inc.	01/20/2010	367	377	0.1
	Tenet Healthcare Corp., 8.88%, 07/01/19	06/01/2009	191	216	0.1
	UBS AG	07/19/2007	247	258	0.1
	UniCredit SpA	01/29/2010	1,341	1,196	0.4
	UniCredito Luxemburg Finance SA, 6.00%, 10/31/17	12/18/2007	148	152	-
			$             13,698	$    13,935	4.6	%
JNL/Capital Guardian Global Diversified Research Fund
	AXA SA	09/25/2009	1,908	1,687	0.5
	Barclays Plc	10/23/2009	1,472	1,350	0.4
	BNP Paribas	10/07/2008	3,719	4,593	1.2
	DLF Ltd.	11/25/2009	997	860	0.2
	Sumitomo Mitsui Financial Group Inc.	01/20/2010	1,473	1,520	0.4
	UBS AG	08/20/2009	2,727	2,639	0.7
	UniCredit SpA	01/29/2010	1,210	1,007	0.3
			$             13,506	$    13,656	3.7	%
JNL/Capital Guardian International Small Cap Fund
	361 Degrees International Ltd.	06/25/2009	$               1,221	$      1,508	0.8	%
	BaWang International Group Holding Ltd.	06/27/2009	1,079	1,474	0.8
	CapitaCommercial Trust	12/17/2008	804	976	0.6
	CapitaMall Trust	10/14/2008	214	303	0.2
	Centerra Gold Inc.	09/25/2009	673	928	0.5
	Gem Diamonds Ltd.	12/06/2007	903	837	0.5
	Liberty International Plc	05/23/2009	44	68	-
	Olam International Ltd.	04/03/2008	812	946	0.6
	Shaftesbury Plc	12/06/2007	810	831	0.5
	Yell Group Plc	07/18/2008	1,208	977	0.6
			$               7,768	$      8,848	5.1	%
JNL/Franklin Templeton Mutual Shares Fund
	Cerberus Capital Management LP	08/06/2007	$                  888	$         275	0.1	%
	Cerberus Capital Management LP	08/06/2007	888	138	-
	Cerberus Capital Management LP	08/06/2007	888	275	0.1
	Cerberus Capital Management LP, 12.00%, 07/31/14	08/07/2007	380	145	-
	Cerberus Capital Management LP, 12.00%, 07/31/14	08/07/2007	780	242	-
	Cerberus Capital Management LP, 12.00%, 07/31/14	08/07/2007	780	121	-
	Harrah's Investment LP	01/16/2008	39	-	-
			$               4,643	$      1,196	0.2	%

JNL Series Trust

Notes to the Schedules of Investments (continued) (dollar amounts in thousands)    

March 31, 2010

Restricted Securities (continued)

				Value
		Acquisition		End	Percent of
JNL/Goldman Sachs Core Plus Bond Fund		Date	Cost	of Period	Net Assets
	Applied Extrusion Technologies Inc. - Class B	05/05/2005	$                    42	$             5	-	%
	CIT Mortgage Loan Trust REMIC, 1.50%, 01/25/10	10/11/2007	700	302	-
	CIT Mortgage Loan Trust REMIC, 1.68%, 09/25/24	10/11/2007	1,280	506	0.1
	CIT Mortgage Loan Trust REMIC, 1.25%, 10/25/37	10/11/2007	923	847	0.1
	Countrywide Home Equity Loan Trust REMIC, 0.45%, 05/15/36	03/29/2006	1,225	287	-
	Credit Suisse Mortgage Capital Certificates REMIC, 6.50%, 10/25/21	09/04/2008	2,117	2,050	0.3
	El Paso Performance-Linked Trust, 7.75%, 07/15/11	07/13/2006	1,290	1,336	0.2
	FDIC Structured Sale Guaranteed Notes REMIC, 0.80%, 02/25/48	03/05/2010	1,000	1,003	0.1
	Federal Home Loan Mortgage Corp. REMIC, 1,156.50%, 06/15/21	02/29/2000	-	1	-
	Federal Home Loan Mortgage Corp. REMIC, 0.00%, 08/15/35 (0.00% until LIBOR reaches 6.50%)	08/18/2008	9	8	-
	Federal Home Loan Mortgage Corp. REMIC, 0.00%, 09/15/35 (0.00% until LIBOR reaches 7.00%)	05/30/2007	332	309	-
	Federal Home Loan Mortgage Corp. REMIC, 0.00%, 04/15/37 (0.00% until LIBOR reaches 6.75%)	05/16/2007	135	129	-
	Federal National Mortgage Association REMIC, 0.00%, 05/25/35 (0.00% until LIBOR reaches 7.00%)	05/30/2007	81	83	-
	Federal National Mortgage Association REMIC, 0.00%, 09/25/36 (0.00% until LIBOR reaches 7.00%)	05/30/2007	136	136	-
	First Union National Bank Commercial Mortgage Trust - Interest Only REMIC, 1.16%, 05/17/32	01/08/2003	94	82	-
	GSMPS Mortgage Loan Trust, 0.48%, 02/25/35	12/10/2002	135	110	-
	Home Interior Gift Inc.	02/13/2006	184	184	-
	Impac CMB Trust REMIC, 0.89%, 03/25/35	11/02/2006	173	79	-
	Merit Securities Corp. REMIC, 1.75%, 09/28/32	12/10/2002	276	251	-
	Northwestern Mutual Life Insurance Co., 6.06%, 03/30/40	03/23/2010	2,875	2,885	0.4
	Radnor Holdings Corp., 11.00%, 07/15/10	11/13/2003	126	-	-
	UBS AG New Jersey-Credit Linked Note (Federative Republic of Brazil, 6.00%, 01/17/17 Moody’s Rating Ba3)	11/05/2007	662	449	0.1
	WEA Finance LLC, 7.50%, 06/02/14	05/27/2009	471	532	0.1
	White Mountains Re Group Inc., 6.38%, 03/20/17	05/11/2007	1,271	1,243	0.1
	ZFS Finance USA Trust I, 5.88%, 05/09/32	05/04/2007	1,225	1,151	0.1
			$             16,762	$    13,968	1.6	%
JNL/JPMorgan MidCap Growth Fund
	Apollo Global Management LLC	11/02/2007	$               2,028	$         587	0.3	%
JNL/JPMorgan U.S. Government & Quality Bond Fund
	Banc of America Commercial Mortgage Inc. REMIC, 6.62%, 03/11/32	12/29/2006	$               2,193	$      2,291	0.3	%
	Commercial Mortgage Pass-Through Certificates REMIC, 5.45%, 07/16/34	10/09/2003	3,320	3,304	0.4
	CompuCredit Acquired Portfolio Voltage Master Trust, 0.42%, 09/15/18	09/15/2006	622	466	0.1
			$               6,135	$      6,061	0.8	%
JNL/PIMCO Real Return Fund
	American General Mortgage Loan Trust, 5.15%, 03/25/40	03/29/2010	$               4,999	$      4,999	0.4	%
	ING Bank NV, 1.09%, 03/30/12	03/25/2010	15,072	15,097	1.1
	Magnolia Funding Ltd., 2.99%, 04/20/17	03/24/2010	1,338	1,359	0.1
			$             21,409	$    21,455	1.6	%
JNL/PIMCO Total Return Bond Fund
	DG Funding Trust, 2.54% (callable at 10,000 beginning 06/30/10)	11/10/2003	$               4,427	$      3,407	0.1	%
	ING Bank NV, 1.09%, 03/30/12	03/25/2010	21,660	21,696	0.9
	Northern Rock Plc, 5.63%, 06/22/17	06/08/2009	13,890	15,648	0.6
			$             39,977	$    40,751	1.6	%
JNL/PPM America High Yield Bond Fund
	Applied Extrusion Technologies Inc. - Class B	05/05/2005	$                    63	$             5	-	%
	Home Interior Gift Inc.	02/22/2006	174	160	-
	Manitoba Telecom Services Inc.	06/10/2005	-	16	-
	Newsday Secured, Term Loan, 10.50%, 08/01/13	12/02/2009	2,182	2,182	0.3
	Newsday Secured, Term Loan, 9.75%, 12/31/49	07/10/2008	800	882	0.2
	Radnor Holdings Corp., 11.00%, 07/15/10	11/14/2003	100	-	-
	Smurfit Kappa Group, Term Loan, 0.50%, 02/10/16	02/10/2010	2,800	2,793	0.4
	Texas Competitive Electric Holdings Co. LLC, Term Loan B, 4.57%, 06/30/11	10/03/2008	3,546	3,221	0.5
	Wolseley Plc - Private Placement,  5.32%, 11/17/20	08/31/2009	1,409	1,853	0.3
			$             11,074	$    11,112	1.7	%

JNL Series Trust

Notes to the Schedules of Investments (continued) (dollar amounts in thousands)    

March 31, 2010

Restricted Securities (continued)

JNL/T. Rowe Price Short-Term Bond Fund
	Banco Bradesco SA, 4.10%, 03/23/15	03/16/2010	$               1,115	$      1,106	0.2	%
	Federal Home Loan Mortgage Corp. REMIC, 0.00%, 03/15/37 (0.00% until LIBOR reaches 7.25%)	09/05/2008	91	91	-
	Federal National Mortgage Association REMIC, 0.00%, 02/25/37 (0.00% until LIBOR reaches 7.25%)	04/10/2007	197	207	-
	Federal National Mortgage Association REMIC, Interest Only, 2.70%, 08/25/35	07/06/2006	27	-	-
	T. Rowe Price Term Asset-Backed Securities Loan Facility	10/16/2009	2,836	2,845	0.5
			$               4,266	$      4,249	0.7	%
JNL/T. Rowe Price Value Fund
	International Game Technology, 3.25%, 05/01/14	05/07/2009	$               1,049	$      1,197	0.1	%

Unfunded Loan Commitments - A Fund may enter into certain credit agreements, all or a portion of which may be unfunded.  The Fund is obligated to fund these loan commitments at the borrowers’ discretion.  Unfunded loan commitments and funded portions of credit agreements are marked to market daily.  Funded portions of credit agreements are presented in the Schedules of Investments.  The following table details unfunded loan commitments for the following Funds at March 31, 2010.

		Unfunded
JNL/Franklin Templeton Mutual Shares Fund		Commitment
	Cerberus Capital Management LP, 12.00%, 07/31/14	$           97
	Lyondell Chemical Co., Term Loan, 13.00%, 04/06/10	27
	Realogy Corp., Term Loan, 5.35%, 10/10/13	566
		$         690

JNL Series Trust (Unaudited)

Notes to the Schedules of Investments (continued)(dollar amounts in thousands)

March 31, 2010

Investments in Affiliates - At March 31, 2010, certain Funds invested in money market funds, which are managed by the Adviser or an affiliate of the Funds.  The JNL Money Market Fund is offered as a cash management tool to the Funds and their affiliates and is not available for direct purchase by members of the public.  In addition, the Custodian is an affiliate of the Funds for which J.P. Morgan Investment Management Inc. is the sub-adviser.  Certain Funds participating in securities lending receive cash collateral, which is invested by the Custodian in the Securities Lending Cash Collateral Fund LLC and the Securities Lending Liquidating Fund LLC, which are affiliates of the Funds’ Adviser.  JNAM serves as the Administ rator for the Securities Lending Cash Collateral Fund LLC and Securities Lending Liquidating Fund LLC.  The JNL Institutional Alt  20 Fund, JNL Institutional Alt  35 Fund, JNL Institutional Alt  50 Fund, JNL Institutional Alt  65 Fund, JNL/Franklin Templeton Founding Strategy Fund, JNL/Mellon Capital Management 10 x 10 Fund, JNL/Mellon Capital Management Index 5 Fund, JNL/S&P 4 Fund, JNL/S&P Managed Conservative Fund, JNL/S&P Managed Moderate Fund, JNL/S&P Managed Moderate Growth Fund, JNL/S&P Managed Growth Fund, JNL/S&P Managed Agressive Growth Fund, JNL/S&P Disciplined Moderate Fund, JNL/S&P Disciplined Moderate Growth Fund, and JNL/S&P Disciplined Growth Fund invested solely in the Class A shares of other affiliated Funds of the Trust and the JNL Variable Funds LLC.  The JNL/Mellon Capital Management International Index Fund invested in Prudential plc, the parent Company of Jackson.  Prudential plc i s not affiliated in any manner with Prudential Financial Inc., a company whose principal place of business is in the United States of America.  The JNL/Mellon Capital Management S&P 500 Index Fund invested in Bank of New York Mellon Corp., the parent company of the Fund’s sub-adviser.  The JNL/T. Rowe Price Established Growth Fund, JNL/T. Rowe Price Mid-Cap Growth Fund, JNL/T. Rowe Price Short-Term Bond Fund and JNL/T. Rowe Price Value Fund invested in T. Rowe Price Reserves Investment Fund; JNL/T. Rowe Price Value Fund invested in T. Rowe Price Institutional Floating Rate Fund; and JNL/T. Rowe Price Short-Term Bond Fund invested in T. Rowe Price Term Asset-Backed Securities Loan Facility, LLC which are affiliates of each Fund’s sub-adviser.

Sub-Adviser Affiliates - PPM America, Inc, an affiliate of JNAM, serves as a sub-adviser to JNL/PPM America High Yield Bond Fund, JNL/PPM America Mid Cap Value Fund, JNL/PPM America Small Cap Value Fund and JNL/PPM America Value Equity Fund.  Prudential Asset Management (Singapore) Limited, an affiliate of JNAM, serves as a sub-adviser to JNL/PAM Asia ex-Japan Fund and JNL/PAM China-India Fund.  M&G Investment Management Limited, an affiliate of JNAM, serves as a sub-adviser to JNL/M&G Global Basics Fund and JNL/M&G Global Leaders Fund.

The following table details each Fund's long-term investments in affiliates held at March 31, 2010.

	Value					Value
	Beginning		Sales	Dividend	Realized	End
Affiliate	of Period	Purchases	Proceeds	Income	Gain (Loss)	of Period
Bank of New York Mellon Corp.	$      3,008	$         435	$         35	$           10	$                (2)	$      3,749
Prudential plc	1,858	239	-	-	-	1,715
T. Rowe Price Institutional Floating Rate Fund	8,104	133	883	123	167	7,502
T. Rowe Price Term Asset-Backed Securities Loan Facility	1,702	6,187	5,241	26	188	2,845

The following table details cash management and securities lending collateral investments in affiliates held at March 31, 2010.  Dividend income received from the Securities Lending Cash Collateral Fund LLC and the Securities Lending Liquidating Fund LLC is aggregated with income from securities lending when received from the custodian and not reflected in this table.  Purchase and sales proceeds are not for shown for these investments.  There was no realized gain or loss relating to transactions for these investments during the period ended March 31, 2010.

				Securities Lending		Securities Lending Cash
	JNL Money Market Fund			Liquidating Fund, LLC		Collateral Fund, LLC
	Value	Amortized		Value	Amortized	Value	Amortized
	Beginning	Cost End	Dividend	Beginning	Cost/Value	Beginning	Cost/Value
Fund	of Period	of Period	Income	of Period	End of Period	of Period	End of Period
JNL/AIM International Growth Fund	$    36,147	$    33,183	$           3	$    12,741	$           9,359	$      4,668	$         24,371
JNL/AIM Large Cap Growth Fund	17,262	14,946	2	4,533	3,330	11,846	12,541
JNL/AIM Global Real Estate Fund	8,814	15,910	1	13,132	9,646	5,818	26,276
JNL/AIM Small Cap Growth Fund	4,526	5,382	-	3,987	2,928	12,335	10,007
JNL/Capital Guardian Global Balanced Fund	13,868	8,887	1	10,396	7,636	3,706	13,694
JNL/Capital Guardian Global Diversified Research Fund	18,355	13,277	1	7,661	5,627	8,015	17,183
JNL/Capital Guardian International Small Cap Fund	13,149	17,217	1	2,266	1,665	8,483	18,866
JNL/Capital Guardian U.S. Growth Equity Fund	14,662	30,948	1	14,539	10,680	42,739	39,101
JNL/Credit Suisse Commodity Securities Fund	9,840	6,297	1	6,019	4,421	43,895	64,380
JNL/Credit Suisse Long/Short Fund	4,692	2,394	-	-	-	-	-
JNL/Eagle Core Equity Fund	4,732	14,285	1	-	-	2,257	4,512
JNL/Eagle SmallCap Equity Fund	3,885	5,571	-	14,383	10,565	29,593	24,439
JNL/Franklin Templeton Global Growth Fund	25,086	27,378	2	3,283	2,412	2,574	16,067
JNL/Franklin Templeton Income Fund	90,379	36,878	3	21,105	15,503	64,754	97,744
JNL/Franklin Templeton Mutual Shares Fund	50,580	68,467	5	-	-	16,975	14,167
JNL/Franklin Templeton Small Cap Value Fund	17,414	26,693	2	8,364	6,144	12,512	11,142
JNL/Goldman Sachs Core Plus Bond Fund	79,220	109,910	10	5,237	3,847	28,509	41,057
JNL/Goldman Sachs Emerging Markets Debt Fund	44,096	66,806	4	-	-	-	-
JNL/Goldman Sachs Mid Cap Value Fund	12,147	14,319	1	5,784	4,249	21,876	12,708
JNL/Ivy Asset Strategy Fund	29,184	44,046	3	-	-	-	-
JNL/JPMorgan International Value Fund	14,166	10,681	1	11,490	8,440	15,172	29,279
JNL/JPMorgan MidCap Growth Fund	5,286	2,281	-	5,706	4,191	13,130	6,652
JNL/JPMorgan U.S. Government & Quality Bond Fund	19,879	21,644	3	43,226	31,751	28,994	19,587
JNL/Lazard Emerging Markets Fund	46,043	30,483	3	10,943	8,038	10,096	31,438
JNL/Lazard Mid Cap Equity Fund	4,587	6,583	-	5,862	4,306	6,110	1,795
JNL/M&G Global Basics Fund	1,114	6,743	-	-	-	1,607	8,536
JNL/M&G Global Leaders Fund	846	523	-	-	-	637	1,554
JNL/Mellon Capital Management European 30 Fund	268	128	-	-	-	-	-
JNL/Mellon Capital Management Pacific Rim 30 Fund	367	299	-	-	-	644	6,068
JNL/Mellon Capital Management S&P 500 Index Fund	29,658	23,632	2	15,555	11,426	17,730	5,854

JNL Series Trust (Unaudited)

Notes to the Schedules of Investments (continued)(dollar amounts in thousands)

March 31, 2010

Investments in Affiliates (continued)

				Securities Lending		Securities Lending Cash
	JNL Money Market Fund			Liquidating Fund, LLC		Collateral Fund, LLC
	Value	Amortized		Value	Amortized	Value	Amortized
	Beginning	Cost End	Dividend	Beginning	Cost/Value	Beginning	Cost/Value
Fund	of Period	of Period	Income	of Period	End of Period	of Period	End of Period
JNL/Mellon Capital Management S&P 400 MidCap Index Fund	$      7,170	$    24,368	$           1	$    23,450	$         17,225	$    45,205	$         29,298
JNL/Mellon Capital Management Small Cap Index Fund	14,720	16,479	1	32,439	23,828	62,694	65,113
JNL/Mellon Capital Management International Index Fund	15,534	29,697	1	17,119	12,574	11,595	75,041
JNL/Mellon Capital Management Bond Index Fund	26,989	36,051	2	39,475	28,995	10,827	40,449
JNL/Mellon Capital Management Global Alpha Fund	6,240	4,440	-	-	-	-	-
JNL/Oppenheimer Global Growth Fund	6,887	12,264	1	8,441	6,201	11,438	20,649
JNL/PAM Asia ex-Japan Fund	2,890	1,839	-	391	287	3,147	4,107
JNL/PAM China-India Fund	8,553	8,473	1	469	345	12,356	29,879
JNL/PIMCO Real Return Fund	963	2,210	-	-	-	45,135	37,127
JNL/PIMCO Total Return Bond Fund	4,480	7,451	1	-	-	73,001	140,374
JNL/PPM America High Yield Bond Fund	27,030	37,143	2	11,647	8,555	72,227	137,002
JNL/PPM America Mid Cap Value Fund	381	792	-	-	-	1,970	477
JNL/PPM America Small Cap Value Fund	126	765	-	-	-	2,128	1,019
JNL/PPM America Value Equity Fund	702	453	-	2,188	1,608	3,188	482
JNL/Red Rocks Listed Private Equity Fund	6,305	9,655	1	-	-	6,877	8,755
JNL/S&P Competitive Advantage Fund	648	1,703	-	3,439	2,526	4,198	13,408
JNL/S&P Dividend Income & Growth Fund	1,254	3,142	-	4,143	3,043	6,135	9,903
JNL/S&P Intrinsic Value Fund	2,119	3,346	-	4,455	3,273	4,630	18,691
JNL/S&P Total Yield Fund	616	2,955	-	10,396	7,636	16,656	11,186
JNL/Select Balanced Fund	39,129	76,524	4	18,056	13,263	21,585	21,900
JNL/Select Value Fund	22,516	25,385	2	2,970	2,182	29,610	1,146
JNL/T. Rowe Price Established Growth Fund	2,905	3,065	-	23,919	17,570	19,181	39,671
JNL/T. Rowe Price Mid-Cap Growth Fund	4,417	4,056	-	50,887	37,378	73,953	50,406
JNL/T. Rowe Price Short-Term Bond Fund	3,374	3,000	-	10,239	7,522	1,818	3,707
JNL/T. Rowe Price Value Fund	9,543	6,380	-	15,867	11,656	18,427	17,503

	T. Rowe Price Reserves
	Investment Fund
	Value	Amortized
	Beginning	Cost/Value	Dividend
Fund	of Period	End of Period	Income
JNL/T. Rowe Price Established Growth Fund	$      5,950	$      7,184	$           7
JNL/T. Rowe Price Mid-Cap Growth Fund	42,725	49,036	25
JNL/T. Rowe Price Short-Term Bond Fund	23,791	28,083	17
JNL/T. Rowe Price Value Fund	16,472	14,576	8

JNL Series Trust (Unaudited)

Notes to the Schedules of Investments (continued)

March 31, 2010

FASB ASC Topic 815,  “Derivatives and Hedging" – This standard includes the requirement for enhanced qualitative disclosures about objectives and strategies for using derivative instruments and disclosures regarding credit related contingent features in derivative instruments; as well as requiring quantitative disclosures in the semi-annual and annual financial statements about fair value, gains and losses and volume of activity for derivative instruments.  Information about these instruments is disclosed in the context of each instrument’s primary underlying risk exposure which is categorized as credit, equity price, interest rate, and foreign currency exchange rate risk.  The objectives, strategies and underlying ris ks for each instrument held by the Funds are discussed in the following paragraphs.

Credit Linked Notes - A Fund may invest in credit linked notes in the normal course of pursuing its investment objectives.  The Funds invest in credit linked notes to manage portfolio risk and to gain exposure to certain foreign markets.  The value of a credit linked note is based on the price movements of a particular credit, known as a reference credit.  Credit linked notes that the Funds invest in are listed instruments that provide the same return as the underlying reference credit.  Credit linked notes are intended to replicate the economic effects that would apply had a Fund directly purchased the underlying reference asset or basket of assets.  The Fund generally will receive a fixed or floating coupon and the note’s par value upon maturity.  If a specified credit event occurs, such as default or declaring bankruptcy, the Fund will experience a delay in repayment or forego interest.  The maximum potential risk of loss is limited to the par amount of the credit linked note plus any accrued interest.  In effect, the Fund will receive a higher yield in exchange for assuming the risk of a specified credit event.  The underlying entity and its credit rating, for each credit linked note, is presented parenthetically in the Schedules of Investments.

Forward Foreign Currency Contracts - A Fund may be subject to foreign currency exchange rate risk in the normal course of pursuing its investment objectives.  A Fund may enter into forward foreign currency contracts, generally to hedge foreign currency exposure between trade date and settlement date on security purchases and sales, to minimize foreign currency exposure on portfolio securities denominated in foreign currencies or as part of its investment strategy.  A forward foreign currency contract is an agreement between two parties to buy and sell a currency at a set price on a future date.  The use of forward foreign currency contracts does not eliminate fluctuations in the underlying prices of a Fund’s portfolio securities, but it does establish a rate of exchange that can be achieved in the future.  The value of a forward foreign currency contract fluctuates with changes in foreign currency exchange rates.  Forward foreign currency contracts are marked-to-market daily and change in value is recorded by a Fund as unrealized gain or loss and as a receivable or payable from forward foreign currency contracts.  Upon delivery or receipt of the currency, realized gain or loss is recorded which is equal to the difference between the value of the contract at the time it is opened and the value at the time it is closed.  Forward foreign currency contracts involve market risk in excess of the receivable or payable related to forward foreign currency contracts.  Although contracts limit the risk of loss due to a decline in the value of the hedged currency, they also limit any potential gain that might result should the value of the currency increase.  Additionally, a Fund could be exposed to the risk of a previously hedged position becoming unhedged if the counterparty to a contract is unable to meet the terms of the contract or if the value of the currency changes unfavorably to the U.S. dollar.

Futures Contracts - A Fund may be subject to equity price, interest rate and foreign currency exchange rate risk in the normal course of pursuing its investment objectives.  A Fund may use futures contracts to manage its exposure to or hedge against changes in securities prices, interest rates and foreign currency rates or as an efficient means of adjusting overall exposure to certain markets as part of its investment strategy.  Upon entering into a futures contract, the Fund is required to deposit with the broker or counterparty an amount of cash or cash equivalents equal to a certain percentage of the contract amount known as the "initial margin".  The Fund receives from or pays to the counterparty an amount of cash equal to the daily fluctuation in the value of the contracts.  Such receipts or payments, known as the "variation margin”, are recorded by the Fund until the contracts are terminated at which time realized gains and losses are recognized.  Futures contracts involve to varying degrees, risk of loss in excess of the variation margin.  The primary risks associated with the use of futures contracts are the imperfect correlation between the change in market value of the securities held by a Fund and the prices of the futures contracts and the possibility a Fund may not be able to enter into a closing transaction because of an illiquid market.  With futures, there is minimal counterparty risk to a Fund since future contracts are exchange traded and the exchange's clearing house, as counterparty to all exchange traded futures, guarantees the future contracts against default.

Options Transactions – A Fund may be subject to equity price, interest rate and foreign currency exchange rate risk in the normal course of pursuing its investment objectives.  A Fund may buy and sell (“write”) call and put options on securities, futures, currencies and swaps (“swaptions”) and inflation caps and floors to manage its exposure to or hedge against changes in securities prices, interest rates, foreign currencies, inflation and  interest and credit default swap valuations or as an efficient means of adjusting overall exposure to certain markets as part of its investment strategy.  Swaptions are illiquid investments.

When a Fund purchases an option, the premium paid by the Fund is recorded as an asset and is subsequently marked to market to reflect the current value of the option.  Premiums paid for purchasing options which expire are treated as realized losses.  Premiums paid for purchasing options which are exercised or closed are added to the cost basis of the underlying investment or offset against the proceeds of the underlying investment transaction to determine realized gain.  Purchasing call options tends to increase a Fund’s exposure to the underlying instrument.  Purchasing put options tends to decrease a Fund’s exposure to the underlying instrument.  The risks associated with purchasing options are limited to premiums paid and the failure of the counterparty to honor its obligation under the contract.

When a Fund writes a call or put option or inflation cap or floor, the premium received by the Fund is recorded as a liability and is subsequently marked to market to reflect the current market value of the option.  The purpose of an inflation cap is to protect the buyer from inflation erosion above a certain rate on a given notional exposure.  An inflation floor can be used to give downside protection to investments in inflation-linked products.  Premiums received from writing options which expire are treated as realized gains.  Premiums received from writing options which are exercised or closed are added to the proceeds of the underlying investment transaction or reduce the cost basis of the underlying investment to determine the realized gain or loss.  Writing call options tends to decre ase a Fund’s exposure to the underlying instrument.  Writing put options tends to increase a Fund’s exposure to the underlying instrument.  The risk associated with writing an option that is exercised is that an unfavorable change in the price of the security underlying the option could result in a Fund buying the underlying security at a price different from the current value.  There is also the risk a Fund may not be able to enter into a closing transaction because of an illiquid market.  Options written by a Fund do not give rise to counterparty credit risk, as they obligate the Fund, not the counterparty, to perform.  The maximum potential amount of future payments (undiscounted) that a Fund could be required to make under an inflation cap or floor would be the notional amount times the percentage increase (for an inflation cap) or decrease (for an inflation floor) in inflation determined by the difference between the index’s current val ue and the value at the time the inflation cap or floor was entered into.

Swap Agreements - Swap agreements are privately negotiated agreements between a Fund and a counterparty to exchange the return generated by one instrument for the return generated by another instrument.  Swap agreements are illiquid investments.  If a Fund transacts in swap agreements, they are party to International Swaps and Derivatives Association, Inc. Master Agreements (“ISDA Master Agreements”) with select counterparties that govern transactions, over-the-counter derivative and foreign exchange contracts, entered into by the Fund and those counterparties. The ISDA Master Agreements maintain provisions for general obligations, representations, agreements, collateral and events of default or termination. Events of termination incl ude conditions that may entitle counterparties to elect to terminate early and cause settlement of all outstanding transactions under the applicable ISDA Master Agreement.  Any election to early termination could be material to the financial statements. The amount of collateral exchanged is based on provisions within the ISDA Master Agreements and is determined by the net exposure with the counterparty and is not identified to a specific swap agreement.

JNL Series Trust (Unaudited)

Notes to the Schedules of Investments (continued)

March 31, 2010

Swap agreements are marked to market daily and change in value is recorded by a Fund as unrealized gain or loss.  Swap premiums paid or received at the beginning of the measurement period represent payments made or received upon entering into the swap agreement to compensate for differences between the stated terms of the swap agreement and prevailing market conditions relating to credit spreads, interest rates, currency exchange rates, and other relevant factors as appropriate.  These upfront payments are recorded as realized gain or loss upon termination or maturity of the swap.  A liquidation payment received or made at the termination of the swap is recorded as realized gain or loss.  Net periodic payments received or paid by a Fund are included as part of realized gain (loss).

Entering into swap agreements involves, to varying degrees, elements of credit, market and documentation risk in excess of the unrealized gain or loss associated with each contract.  Such risks involve the possibility that there will be no liquid market for these agreements, that there may be unfavorable changes in interest rates or value of underlying securities and that the counterparty to the agreements may default on its obligation to perform or disagree as to the meaning of contractual terms in the agreements.  The credit risk associated with favorable contracts is reduced by master netting arrangements to the extent that if an event of default occurs, all amounts with the counterparty are terminated and settled on a net basis.  A Fund’s overall exposure to credit risk subject to master netting arran gements can change substantially within a short period, as it is affected by each transaction subject to the arrangement.

Credit Default Swap Agreements –- A Fund may be subject to credit and foreign currency exchange rate risk in the normal course of pursuing its investment objectives.  Credit default swap agreements involve one party making a stream of payments (referred to as the buyer of protection) to another party (the seller of protection) in exchange for the right to receive a specified return if a credit event occurs for the referenced entity, obligation or index.  A credit event is defined under the terms of that particular swap agreement and may include, but is not limited to, underlying entity default, bankruptcy, write-down, principal shortfall, or interest shortfall.

A Fund may use credit default swap agreements on corporate issues or sovereign issues of an emerging country to provide a measure of protection against defaults of the issuers (i.e., to reduce risk where a Fund owns or has exposure to the referenced obligation) or to take an active long or short position with respect to the likelihood of a particular issuer’s default.  Credit default swap agreements on corporate issues or sovereign issues of an emerging country involve one party making a stream of payments to another party in exchange for the right to receive a specified return in the event of a default or other credit event.  If a credit event occurs and cash settlement is not elected, a variety of other deliverable obligations may be delivered in lieu of the specific referenced obligation.  The ability to deliver other obligations may result in a cheapest-to-deliver option (the buyer of protection’s right to choose the deliverable obligation with the lowest value following a credit event).

A Fund may use credit default swap agreements on asset-backed securities to provide a measure of protection against defaults of the referenced obligation or to take an active long or short position with respect to the likelihood of a particular referenced obligation’s default.  Credit default swap agreements on asset-backed securities involve one party making a stream of payments to another party in exchange for the right to receive a specified return in the event of a default or other credit event.  Unlike credit default swaps on corporate issues or sovereign issues of an emerging country, deliverable obligations in most instances would be limited to the specific referenced obligation because performance for asset-backed securities can vary across deals.  Prepayments, principal pay downs, and other write -down or loss events on the underlying mortgage loans will reduce the outstanding principal balance of the referenced obligation.  These reductions may be temporary or permanent as defined under the terms of the swap agreement and the notional amount for the swap agreement will be adjusted by corresponding amounts.

A Fund may use credit default swap agreements on credit indices to hedge a portfolio of credit default swap agreements or bonds, to protect investors owning bonds against default and to speculate on changes in credit quality.  Credit default swap agreements on credit indices involve one party making a stream of payments to another party in exchange for the right to receive a specified return in the event of a write-down, principal shortfall, interest shortfall or default of all or part of the referenced entities comprising the credit index.  A credit index is a basket of credit instruments or exposures designed to represent some part of the credit market as a whole.  These indices are made up of reference credits that are judged by a pool of dealers to be the liquid entities in the credit default swap market ba sed on the index sector.  Components of the indices may include, but are not limited to, investment grade securities, high yield securities, asset-backed securities and emerging market securities.  These components can be determined based upon various credit ratings within each sector.  Credit indices are traded using credit default swaps with standardized terms including a fixed spread and standard maturity dates.  An index credit default swap references all the names in the index, and if there is a credit event, the credit event is settled based on that name’s weight in the index.  The composition of the indices changes periodically, usually every six months, and for most indices, each name has an equal weight in the index.

A Fund can be either a seller or buyer of protection when entering into a credit default swap agreement.  As a seller of protection, the Fund will generally receive from the buyer of protection a fixed rate of income throughout the term of the swap if there is no credit event.  As a seller, the Fund adds leverage to its portfolio because, in addition to its total net assets, the Fund is subject to investment exposure on the notional amount of the swap.  If a Fund is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Fund will either pay to the buyer of protection an amount equal to the notional amount of the swap and take delivery of the referenced obligation, other deliverable obligations or underlying securities comprising the referenced index o r pay a net settlement amount in the form of cash or securities equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced index.  If a Fund is a buyer of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Fund will either receive from the seller of protection an amount equal to the notional amount of the swap and deliver the referenced obligation, other deliverable obligations or underlying securities comprising the referenced index or receive a net settlement amount in the form of cash or securities equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced index. Until a credit event occurs, recovery values are determined by market makers considering either industry standard recovery rates or entity specific factors and considerations.  When a credit event occurs, the recovery value is determined by a facilitated auction whereby a minimum number of allowable broker bids, together with a specified valuation method, are used to calculate the settlement value.

Either as a seller of protection or a buyer of protection of a credit default swap agreement, a Fund's maximum risk of loss from counterparty risk is the fair value of the agreement.  This risk is mitigated by having a master netting arrangement between the Fund and the counterparty and by posting collateral by the counterparty to the Fund to cover the Fund's exposure to the counterparty.  The maximum potential amount of future payments (undiscounted) that a Fund as a seller of protection could be required to make under a credit default swap agreement would be an amount equal to the notional amount of the agreement. Notional amounts of all credit default swap agreements outstanding as of March 31, 2010, for which the Fund is the seller of protection are disclosed in the Notes to the Schedules of Investments.  T hese potential amounts would be partially offset by any recovery values of the respective referenced obligations, upfront payments received upon entering into the agreement or net amounts received from the settlement of buy protection credit default swap agreements entered into by the Fund for the same referenced entity or entities.

JNL Series Trust (Unaudited)

Notes to the Schedules of Investments (continued)

March 31, 2010

Interest Rate Swap Agreements - A Fund may be subject to interest rate and foreign currency exchange rate risk in the normal course of pursuing its investment objectives.  A Fund may enter into interest rate swap agreements to hedge against the risk that the value of its fixed rate bond investments will decrease as interest rates rise and to maintain its ability to generate income at prevailing market rates.  Interest rate swap agreements involve the exchange by a Fund with another party of their respective commitments to pay or receive interest with respect to the notional amount of principal. Forms of interest rate swap agreements may include: interest rate caps, under which, in return for a premium, one party agrees to make payments to the oth er party to the extent that interest rates exceed a specified rate, or “cap”; interest rate floors, under which, in return for a premium, one party agrees to make payments to the other party to the extent that interest rates fall below a specified rate, or “floor”; interest rate collars, under which a party sells a cap and purchases a floor or vice versa in an attempt to protect itself against interest rate movements exceeding given minimum or maximum levels; callable interest rate swaps, under which the counterparty may terminate the swap transaction in whole at zero cost by a predetermined date and time prior to the maturity date; forward spread locks, which allow the interest rate swap users to lock in the forward differential (or spread) between the interest rate swap rate and a specified benchmark; or basis swap, under which two parties can exchange variable interest rates based on different money markets.

A Fund's maximum risk of loss from counterparty credit risk for an interest rate swap agreement is the discounted net value of the cash flows to be received from or paid to the counterparty over the contract's remaining life, to the extent this amount is positive.  This risk is mitigated by having a master netting arrangement between a Fund and the counterparty and by posting of collateral by the counterparty to the Fund to cover the Fund's exposure to the counterparty.

Total Return Swap Agreements - A Fund may be subject to equity price and interest rate risk in the normal course of pursuing its investment objectives.  A Fund may enter into a total return swap agreement to manage its exposure to or hedge against changes in securities prices and interest rates or as an efficient means of adjusting overall exposure to certain markets as part of its investment strategy.  Some total return swap agreements involve a commitment to pay periodic interest payments in exchange for a market-linked return based on a security or a basket of securities.  To the extent the total return of the security, index or other financial measure underlying the transaction exceeds or falls short of the offsetting interest rate obligation, a Fund will receive a pay ment from or make a payment to the counterparty.   A Fund's maximum risk of loss from counterparty credit risk for this type of total return swap agreement is the discounted net value of the cash flows to be received from or paid to the counterparty over the contract's remaining life, to the extent this amount is positive.  Other total return swap agreements involve a right to receive the appreciation in value of a specified security, index or other instrument in return for a fee paid to the counterparty, which will typically be an agreed upon interest rate.  To the extent the underlying asset declines in value over the term of the swap, a Fund may also be required to pay the value of that decline to the counterparty.  A Fund's maximum risk of loss from counterparty credit risk for this type of total return swap agreement is the value of the underlying security, index or other financial instrument.

The counterparty credit risk for the total return swap agreement is mitigated by having a master netting arrangement between a Fund and the counterparty and by posting of collateral by the counterparty to the Fund to cover the Fund's exposure to the counterparty.

Subsequent Event - At a meeting held December 17, 2009, the Board voted to approve replacing the sub-adviser for JNL/Capital Guardian International Small Cap Fund from Capital Guardian Trust Company to Franklin Advisory Services, LLC effective May 3, 2010.  At that time, the name of the Fund will be changed to JNL/Franklin Templeton International Small Cap Fund.

JNL Series Trust (Unaudited)

Notes to the Schedules of Investments (continued)

March 31, 2010

Schedule of Written Options (in thousands except contracts)
			Expiration	Exercise
			Date	Price	Contracts	Value
Index Swaptions
	JNL/PIMCO Total Return Bond Fund
		CDX.IG-13 5 Year Put Option	06/16/2010	1.30	39	$                  (2)
		CDX.IG-13 5 Year Call Option	06/16/2010	0.80	39	(7)
		iTraxx Europe Series 12 Version 1 Put Option	06/16/2010	1.40	24	(1)
		iTraxx Europe Series 12 Version 1 Call Option	06/16/2010	0.70	24	(7)
					126	$                (17)
Equity Options
	JNL/Ivy Asset Strategy Fund
		IShares MSCI Emerging Market Index Call Option	06/19/2010	38.00	523	$              (254)
		IShares MSCI Emerging Market Index Call Option	06/19/2010	39.00	180	(71)
		IShares MSCI Emerging Market Index Call Option	06/19/2010	41.00	1,078	(285)
		IShares MSCI Emerging Market Index Call Option	06/19/2010	38.00	628	(305)
					2,409	$              (915)
Exchange-Traded Futures Options
	JNL/PIMCO Real Return Fund
		U.S. 10-Year Treasury Note Future Call Option	04/23/2010	119.00	152	$                  (7)
		U.S. 10-Year Treasury Note Future Call Option	05/21/2010	119.00	232	(40)
		U.S. 10-Year Treasury Note Future Put Option	04/23/2010	114.00	152	(19)
		U.S. 10-Year Treasury Note Future Put Option	05/21/2010	114.00	232	(80)
		U.S. 30-Year Treasury Bond Future Call Option	05/21/2010	119.00	37	(19)
		U.S. 30-Year Treasury Bond Future Put Option	05/21/2010	111.00	37	(9)
					842	$              (174)
	JNL/PIMCO Total Return Bond Fund
		Euro-Bund Future Put Option	05/31/2010	120.00	41	$                  (6)
		Euro-Bund Future Call Option	05/31/2010	125.00	41	(14)
		U.S. 10-Year Treasury Note Future Call Option	04/23/2010	119.00	1,031	(48)
		U.S. 10-Year Treasury Note Future Call Option	05/21/2010	119.00	724	(124)
		U.S. 10-Year Treasury Note Future Call Option	05/21/2010	120.00	21	(2)
		U.S. 10-Year Treasury Note Future Put Option	04/23/2010	114.00	1,287	(161)
		U.S. 10-Year Treasury Note Future Put Option	04/23/2010	115.00	2	(1)
		U.S. 10-Year Treasury Note Future Put Option	05/21/2010	114.00	1,038	(357)
		U.S. 10-Year Treasury Note Future Put Option	05/21/2010	115.00	126	(73)
		U.S. 30-Year Treasury Bond Future Call Option	05/21/2010	119.00	42	(21)
		U.S. 30-Year Treasury Bond Future Put Option	05/21/2010	111.00	42	(11)
					4,395	$              (818)
Foreign Currency Options
	JNL/PIMCO Real Return Fund
		USD versus JPY Call Option	04/20/2010	94.00	1,320,000	$                (18)
		USD versus JPY Put Option	04/20/2010	88.00	1,320,000	(87)
					2,640,000	$              (105)
Interest Rate Swaptions
	JNL/PIMCO Real Return Fund
		Call Swaption, 3 month LIBOR versus 2.75% fixed	04/19/2010	N/A	130	$                    -
		Call Swaption, 3 month LIBOR versus 3.25% fixed	04/19/2010	N/A	262	-
		Call Swaption, 3 month LIBOR versus 3.25% fixed	08/31/2010	N/A	137	(29)
		Call Swaption, 3 month LIBOR versus 3.25% fixed	10/29/2010	N/A	368	(116)
		Call Swaption, 3 month LIBOR versus 3.25% fixed	08/31/2010	N/A	35	(7)
		Call Swaption, 3 month LIBOR versus 3.50% fixed	06/14/2010	N/A	215	(59)
		Put Swaption, 3 month LIBOR versus 4.00% fixed	04/19/2010	N/A	130	-
		Put Swaption, 3 month LIBOR versus 4.25% fixed	04/19/2010	N/A	262	(7)
		Put Swaption, 3 month LIBOR versus 4.50% fixed	06/14/2010	N/A	215	(45)
		Put Swaption, 3 month LIBOR versus 4.75% fixed	08/31/2010	N/A	137	(66)
		Put Swaption, 3 month LIBOR versus 4.75% fixed	08/31/2010	N/A	35	(17)
		Put Swaption, 3 month LIBOR versus 5.00% fixed	10/29/2010	N/A	368	(211)
		Put Swaption, 3 month LIBOR versus 5.37% fixed	09/22/2017	N/A	400	(2)
		Put Swaption, 3 month LIBOR versus 5.50% fixed	09/02/2015	N/A	240	(1)
		Put Swaption, 3 month LIBOR versus 6.00% fixed	08/31/2010	N/A	500	-
		Put Swaption, 3 month LIBOR versus 6.00% fixed	08/31/2010	N/A	1,000	-
					4,434	$              (560)
	JNL/PIMCO Total Return Bond Fund
		Call Swaption, 3 month LIBOR versus 2.75% fixed	04/21/2017	N/A	27	$                    -
		Call Swaption, 3 month LIBOR versus 3.25% fixed	04/21/2020	N/A	495	-
		Call Swaption, 3 month LIBOR versus 3.25% fixed	04/21/2020	N/A	99	-
		Call Swaption, 3 month LIBOR versus 3.25% fixed	09/02/2020	N/A	597	(126)
		Call Swaption, 3 month LIBOR versus 3.25% fixed	11/02/2020	N/A	227	(71)
		Call Swaption, 3 month LIBOR versus 3.25% fixed	09/02/2020	N/A	271	(57)
		Call Swaption, 3 month LIBOR versus 3.50% fixed	06/16/2020	N/A	59	(16)
		Call Swaption, 3 month LIBOR versus 3.50% fixed	06/16/2020	N/A	241	(67)

JNL Series Trust (Unaudited)

Notes to the Schedules of Investments (continued)

March 31, 2010

Schedule of Written Options (in thousands except contracts)
				Expiration	Exercise
				Date	Price	Contracts	Value
	JNL/PIMCO Total Return Bond Fund (continued)
		Call Swaption, 3 month LIBOR versus 3.60% fixed		05/25/2020	N/A	110	$                (35)
		Put Swaption, 3 month LIBOR versus 10.00% fixed		07/12/2022	N/A	133	(6)
		Put Swaption, 3 month LIBOR versus 4.00% fixed		04/21/2017	N/A	27	-
		Put Swaption, 3 month LIBOR versus 4.10% fixed		05/25/2020	N/A	110	(63)
		Put Swaption, 3 month LIBOR versus 4.25% fixed		04/21/2020	N/A	548	(16)
		Put Swaption, 3 month LIBOR versus 4.25% fixed		04/21/2020	N/A	25	(1)
		Put Swaption, 3 month LIBOR versus 5.00% fixed		04/21/2020	N/A	56	-
		Put Swaption, 3 month LIBOR versus 4.50% fixed		06/16/2020	N/A	59	(12)
		Put Swaption, 3 month LIBOR versus 4.50% fixed		06/16/2020	N/A	241	(51)
		Put Swaption, 3 month LIBOR versus 4.75% fixed		09/02/2020	N/A	597	(288)
		Put Swaption, 3 month LIBOR versus 4.75% fixed		09/02/2020	N/A	271	(131)
		Put Swaption, 3 month LIBOR versus 5.00% fixed		04/21/2020	N/A	67	-
		Put Swaption, 3 month LIBOR versus 5.00% fixed		11/02/2020	N/A	227	(130)
		Put Swaption, 3 month LIBOR versus 6.00% fixed		09/02/2017	N/A	1,790	-
		Put Swaption, 3 month LIBOR versus 6.00% fixed		09/02/2017	N/A	3,700	(1)
		Put Swaption, 3 month LIBOR versus 6.00% fixed		09/02/2017	N/A	400	-
		Put Swaption, 3 month LIBOR versus 6.00% fixed		09/02/2020	N/A	200	(2)
						10,577	$           (1,073)
			Expiration	Initial	Notional
			Date	Index	Amount	Contracts	Value
Inflation Floor
	JNL/PIMCO Real Return Fund
		Floor - CPURNSA Index Option	03/10/2020	215.95	$          2,900	29	$                (19)
		Floor - CPURNSA Index Option	03/12/2020	215.95	4,600	46	(30)
					$          7,500	75	$                (49)
	JNL/PIMCO Total Return Bond Fund
		Floor - CPURNSA Index Option	03/10/2020	215.95	$          1,900	19	$                (12)
		Floor - CPURNSA Index Option	03/12/2020	215.95	1,800	18	(12)
					$          3,700	37	$                (24)
Summary of Written Options (in thousands except contracts):
						Contracts	Premiums
JNL/Ivy Asset Strategy Fund
	Options outstanding at 12/31/2009					-	-
		Options written during the period				(3,293)	(786)
		Options closed during the period				884	135
	Options outstanding at 03/31/2010					(2,409)	$              (651)
JNL/PIMCO Real Return Fund
	Options outstanding at 12/31/2009					(4,321)	(1,908)
		Options written during the period				(2,642,939)	(1,635)
		Options closed during the period				1,909	881
	Options outstanding at 03/31/2010					(2,645,351)	$           (2,662)
JNL/PIMCO Total Return Bond Fund
	Options outstanding at 12/31/2009					(12,790)	(5,028)
		Options written during the period				(8,640)	(3,670)
		Options closed during the period				30	-
		Options expired during the period				6,265	2,854
	Options outstanding at 03/31/2010					(15,135)	$           (5,844)

JNL Series Trust (Unaudited)

Notes to the Schedules of Investments (continued)

March 31, 2010

Schedule of Open Futures Contracts (in thousands except contracts)

				Unrealized				Contracts	Unrealized
			Contracts	Appreciation/				Long/	Appreciation/
		Expiration	Long/(Short)	(Depreciation)			Expiration	(Short)	(Depreciation)
JNL/Goldman Sachs Core Plus Bond Fund					JNL/Mellon Capital Management Global Alpha Fund (continued)
	90-Day Eurodollar Future	April 2010	34	$                                 -		Euro-Bund Future	June 2010	149	40
	90-Day Eurodollar Future	June 2010	2,799	2,546		FTSE 100 Index Future	June 2010	38	29
	90-Day Eurodollar Future	May 2010	34	1		FTSE/MIB Index Future	June 2010	4	4
	Euro-Bobl Future	June 2010	567	262		Hang Seng Index Future	April 2010	(124)	(264)
	Euro-Bund Future	June 2010	242	214		IBEX 35 Index Future	April 2010	19	(75)
	90-Day Eurodollar Future	December 2010	1,105	698		Japanese Government Bond Future, 10-Year    .	June 2010	(129)	163
	90-Day Eurodollar Future	September 2010	1,380	468		U.K. Long Gilt Future	June 2010	(19)	5
	U.K. Long Gilt Future	June 2010	88	92		S&P /TSX 60 IX Future	June 2010	(11)	(4)
	U.S. Treasury Note Future, 10-Year	June 2010	1,081	(607)		S&P 500 E-Mini Index Future	June 2010	455	120
	U.S. Treasury Note Future, 5-Year	June 2010	97	(91)		ASX SPI 200 Index Future	June 2010	(28)	(32)
	U.S. Long Bond Future	June 2010	415	(213)		Topix Index Future	June 2010	28	50
				$                         3,370		U.S. Treasury Note Future, 10-Year	June 2010	25	(21)
JNL/Ivy Asset Strategy Fund									$                              52
	Dow Jones Euro Stoxx 50 Index Future	June 2010	133	$                            (24)	JNL/PIMCO Real Return Fund
	H-Shares Index Future	April 2010	(159)	(416)		3-Month Euro Euribor Future	December 2010	162	$                              74
	Hang Seng Index Future	April 2010	(1)	(3)		3-Month Euro Euribor Future	June 2010	58	130
	Nikkei 225 Index Future	June 2010	-	-		90-Day Eurodollar Future	June 2011	20	35
	ASX SPI 200 Index Future	June 2010	9	(5)		90-Day Eurodollar Future	June 2010	179	316
				$                          (448)		90-Day British Pound Sterling Future	December 2010	111	26
JNL/Mellon Capital Management S&P 500 Index Fund						Euro-Bobl Future	June 2010	216	92
	S&P 500 E-Mini Index Future	June 2010	(103)	$                          (151)		Euro-Bund Future	June 2010	121	114
				$                          (151)		90-Day Eurodollar Future	September 2010	690	32
JNL/Mellon Capital Management S&P 400 MidCap Index Fund						U.S. Treasury Note Future, 10-Year	June 2010	313	(284)
	S&P MidCap 400 E-Mini Index Future	June 2010	82	$                            (28)					$                            535
				$                            (28)	JNL/PIMCO Total Return Bond Fund
JNL/Mellon Capital Management Small Cap Index Fund						90-Day Eurodollar Future	June 2011	115	$                                7
	Russell 2000 Mini Index Future	June 2010	267	$                                5		90-Day Eurodollar Future	December 2011	20	32
				$                                5		90-Day Eurodollar Future	June 2010	34	1
JNL/Mellon Capital Management International Index Fund						90-Day Eurodollar Future	September 2011	20	34
	Dow Jones Euro Stoxx 50 Index Future	June 2010	(669)	$                          (202)		90-Day British Pound Sterling Future	June 2010	188	133
	FTSE 100 Index Future	June 2010	35	(21)		90-Day British Pound Sterling Future	September 2010	107	15
	ASX SPI 200 Index Future	June 2010	(112)	(103)		90-Day British Pound Sterling Future	December 2010	110	18
	Topix Index Future	June 2010	(42)	(297)		Euro-Bobl Future	June 2010	119	60
				$                          (623)		Euro-Bund Future	June 2010	(34)	(35)
JNL/Mellon Capital Management Global Alpha Fund						90-Day Eurodollar Future	December 2010	2	1
	Amsterdam Exchange Index Future	April 2010	1	$                                1		90-Day Eurodollar Future	March 2011	20	35
	Australia Bond Future, 10-year	June 2010	52	(49)		90-Day Eurodollar Future	September 2010	(9)	(20)
	CAC 40 10 Euro Index Future	April 2010	140	74		U.S. Treasury Note Future, 10-Year	June 2010	202	(123)
	Canadian Bond Future, 10-year	June 2010	20	(14)		U.S. Treasury Note Future, 2-Year	June 2010	2,193	(361)
	DAX Index Future	June 2010	4	25		U.S. Treasury Note Future, 5-Year	June 2010	823	(270)
									$                          (473)

JNL Series Trust (Unaudited)
Notes to the Schedules of Investments (continued)
March 31, 2010
Summary of Open Forward Foreign Currency Contracts (in thousands)
	Currency	Settlement	Notional		Currency	Unrealized		Currency	Settlement	Notional		Currency	Unrealized
	Purchased/Sold	Date	Amount		Value	Gain/(Loss)		Purchased/Sold	Date	Amount		Value	Gain/(Loss)
JNL/Capital Guardian Global Balanced Fund							JNL/Franklin Templeton Mutual Shares Fund (continued)
	JPY/USD	04/09/2010	JPY	187,251	$       2,003	$           (97)		USD/GBP	05/12/2010	GBP	(210)	(319)	23
	JPY/USD	04/14/2010	JPY	611,915	6,546	(204)		USD/GBP	05/12/2010	GBP	(159)	(242)	18
	USD/CAD	04/06/2010	CAD	(72)	(70)	(1)		USD/GBP	05/12/2010	GBP	(92)	(140)	11
	USD/EUR	04/08/2010	EUR	(2,394)	(3,233)	33		USD/GBP	05/12/2010	GBP	(385)	(584)	39
	USD/GBP	04/12/2010	GBP	(33)	(50)	-		USD/GBP	05/12/2010	GBP	(1,267)	(1,922)	38
	USD/JPY	04/30/2010	JPY	(326,950)	(3,498)	34		USD/GBP	05/12/2010	GBP	(900)	(1,365)	(6)
	USD/JPY	04/30/2010	JPY	(19,163)	(205)	2		USD/GBP	05/12/2010	GBP	(306)	(464)	4
	USD/ZAR	04/12/2010	ZAR	(5,808)	(796)	(23)		USD/JPY	04/20/2010	JPY	(148,783)	(1,592)	43
					$          697	$         (256)		USD/JPY	04/20/2010	JPY	(5,300)	(57)	2
JNL/Franklin Templeton Mutual Shares Fund								USD/JPY	04/20/2010	JPY	(18,261)	(195)	11
	CHF/USD	05/10/2010	CHF	137	$          130	$             (5)		USD/JPY	04/20/2010	JPY	(16,010)	(171)	3
	DKK/USD	04/23/2010	DKK	364	66	(1)		USD/JPY	04/20/2010	JPY	(12,000)	(128)	2
	GBP/USD	05/12/2010	GBP	722	1,096	(73)		USD/JPY	04/20/2010	JPY	(13,000)	(139)	4
	GBP/USD	05/12/2010	GBP	108	163	(10)		USD/JPY	04/20/2010	JPY	(19,268)	(206)	6
	GBP/USD	05/12/2010	GBP	140	212	(14)		USD/JPY	04/20/2010	JPY	(15,600)	(167)	2
	GBP/USD	05/12/2010	GBP	870	1,320	(82)		USD/KRW	04/19/2010	KRW	(140,719)	(124)	1
	GBP/USD	05/12/2010	GBP	81	123	(5)		USD/KRW	04/19/2010	KRW	(140,750)	(124)	1
	GBP/USD	05/12/2010	GBP	1,098	1,666	(66)		USD/KRW	04/19/2010	KRW	(29,393)	(26)	-
	GBP/USD	05/12/2010	GBP	577	875	6		USD/KRW	04/19/2010	KRW	(158,124)	(140)	-
	JPY/USD	04/20/2010	JPY	30,731	329	(8)		USD/KRW	04/19/2010	KRW	(63,406)	(56)	-
	JPY/USD	04/20/2010	JPY	6,500	70	(2)		USD/KRW	04/19/2010	KRW	(107,576)	(95)	-
	JPY/USD	04/20/2010	JPY	13,900	149	(6)		USD/KRW	04/19/2010	KRW	(220,555)	(195)	(6)
	KRW/USD	04/19/2010	KRW	216,000	191	-		USD/KRW	04/19/2010	KRW	(183,440)	(162)	(2)
	NOK/USD	08/16/2010	NOK	2,000	334	3		USD/NOK	08/16/2010	NOK	(34,906)	(5,834)	10
	USD/AUD	05/19/2010	AUD	(479)	(437)	2		USD/NOK	08/16/2010	NOK	(1,800)	(301)	-
	USD/CHF	05/10/2010	CHF	(3,100)	(2,941)	(22)		USD/NOK	08/16/2010	NOK	(665)	(111)	2
	USD/CHF	05/10/2010	CHF	(3,154)	(2,992)	(22)		USD/NOK	08/16/2010	NOK	(1,694)	(283)	(2)
	USD/CHF	05/10/2010	CHF	(105)	(100)	(2)						$(102,450)	$         2,664
	USD/CHF	05/10/2010	CHF	(989)	(939)	(5)	JNL/Goldman Sachs Core Plus Bond Fund
	USD/CHF	05/10/2010	CHF	(113)	(107)	(1)		AUD/EUR	06/16/2010	EUR	(1,063)	$    (1,436)	$              (1)
	USD/CHF	05/10/2010	CHF	(131)	(124)	-		AUD/USD	06/16/2010	AUD	1,546	1,407	9
	USD/CHF	05/10/2010	CHF	(226)	(214)	6		AUD/USD	06/16/2010	AUD	1,568	1,427	7
	USD/CHF	05/10/2010	CHF	(130)	(123)	4		CAD/EUR	06/16/2010	EUR	(1,042)	(1,407)	39
	USD/CHF	05/10/2010	CHF	(110)	(104)	3		CAD/EUR	06/16/2010	EUR	(1,066)	(1,440)	(5)
	USD/CHF	05/10/2010	CHF	(113)	(108)	3		CAD/JPY	06/16/2010	JPY	(127,850)	(1,368)	54
	USD/CHF	05/10/2010	CHF	(117)	(111)	5		CAD/USD	06/16/2010	CAD	1,473	1,450	45
	USD/CHF	05/10/2010	CHF	(433)	(411)	15		CAD/USD	06/16/2010	CAD	6,108	6,014	84
	USD/CHF	05/10/2010	CHF	(287)	(273)	10		CHF/EUR	06/16/2010	EUR	(1,604)	(2,167)	4
	USD/CHF	05/10/2010	CHF	(250)	(237)	14		CHF/JPY	06/16/2010	JPY	(129,428)	(1,385)	48
	USD/CHF	05/10/2010	CHF	(112)	(106)	3		EUR/AUD	06/16/2010	AUD	(2,381)	(2,167)	(4)
	USD/CHF	05/10/2010	CHF	(132)	(125)	2		EUR/CAD	06/16/2010	CAD	(1,454)	(1,431)	(33)
	USD/CHF	05/10/2010	CHF	(200)	(190)	3		EUR/CAD	06/16/2010	CAD	(2,929)	(2,884)	(4)
	USD/CHF	05/10/2010	CHF	(218)	(207)	4		EUR/CHF	06/16/2010	CHF	(2,265)	(2,149)	(57)
	USD/CHF	05/10/2010	CHF	(258)	(244)	3		EUR/CHF	06/16/2010	CHF	(2,280)	(2,163)	(33)
	USD/CHF	05/10/2010	CHF	(230)	(218)	1		EUR/GBP	06/16/2010	GBP	(1,922)	(2,915)	(22)
	USD/CHF	05/10/2010	CHF	(227)	(215)	(1)		EUR/NZD	06/16/2010	NZD	(4,028)	(2,847)	(12)
	USD/CHF	05/10/2010	CHF	(107)	(102)	(1)		EUR/SEK	06/16/2010	SEK	(20,688)	(2,866)	18
	USD/CHF	05/10/2010	CHF	(385)	(365)	(10)		EUR/USD	06/16/2010	EUR	2,119	2,862	(4)
	USD/CHF	05/10/2010	CHF	(480)	(455)	(9)		GBP/EUR	06/16/2010	EUR	(1,040)	(1,405)	15
	USD/CHF	05/10/2010	CHF	(245)	(233)	-		GBP/EUR	06/16/2010	EUR	(3,007)	(4,062)	75
	USD/CHF	05/10/2010	CHF	(251)	(238)	(2)		GBP/EUR	06/16/2010	EUR	(1,037)	(1,401)	14
	USD/DKK	04/23/2010	DKK	(7,589)	(1,377)	147		GBP/EUR	06/16/2010	EUR	(1,064)	(1,437)	7
	USD/DKK	04/23/2010	DKK	(536)	(97)	10		JPY/USD	06/16/2010	JPY	134,633	1,441	(48)
	USD/DKK	04/23/2010	DKK	(370)	(67)	7		JPY/USD	06/16/2010	JPY	266,030	2,847	(20)
	USD/DKK	04/23/2010	DKK	(593)	(108)	12		NOK/EUR	06/16/2010	EUR	(1,037)	(1,401)	6
	USD/DKK	04/23/2010	DKK	(525)	(95)	9		NOK/EUR	06/16/2010	EUR	(1,549)	(2,092)	3
	USD/DKK	04/23/2010	DKK	(428)	(78)	2		NOK/EUR	06/16/2010	EUR	(3,954)	(5,340)	23
	USD/DKK	04/23/2010	DKK	(1,200)	(218)	1		NOK/USD	06/16/2010	NOK	8,273	1,387	(31)
	USD/DKK	04/23/2010	DKK	(1,248)	(226)	4		NZD/EUR	06/16/2010	EUR	(1,045)	(1,411)	42
	USD/DKK	04/23/2010	DKK	(730)	(132)	-		NZD/EUR	06/16/2010	EUR	(1,064)	(1,437)	(8)
	USD/EUR	07/16/2010	EUR	(32,050)	(43,290)	523		NZD/USD	06/16/2010	NZD	14,331	10,129	98
	USD/EUR	07/16/2010	EUR	(194)	(262)	5		NZD/USD	06/16/2010	NZD	1,986	1,404	(8)
	USD/EUR	07/16/2010	EUR	(368)	(497)	9		NZD/USD	06/16/2010	NZD	2,027	1,433	8
	USD/EUR	07/16/2010	EUR	(711)	(961)	1		SEK/EUR	06/16/2010	EUR	(1,037)	(1,401)	(4)
	USD/EUR	07/16/2010	EUR	(208)	(280)	1		SEK/EUR	06/16/2010	EUR	(2,756)	(3,723)	(25)
	USD/EUR	07/16/2010	EUR	(729)	(984)	(10)		SEK/NOK	06/16/2010	NOK	(6,736)	(1,129)	(11)
	USD/EUR	07/16/2010	EUR	(764)	(1,032)	(3)		SEK/NOK	06/16/2010	NOK	(8,712)	(1,461)	(26)
	USD/EUR	07/16/2010	EUR	(523)	(706)	(3)		USD/AUD	06/16/2010	AUD	(8,146)	(7,414)	(68)
	USD/GBP	05/12/2010	GBP	(20,896)	(31,703)	2,005		USD/AUD	06/16/2010	AUD	(1,556)	(1,416)	(18)

JNL Series Trust (Unaudited)
Notes to the Schedules of Investments (continued)
March 31, 2010
Summary of Open Forward Foreign Currency Contracts (in thousands) (continued)
	Currency	Settlement	Notional	Currency	Unrealized	Currency	Settlement	Notional	Currency	Unrealized
	Purchased/Sold	Date	Amount	Value	Gain/(Loss)	Purchased/Sold	Date	Amount	Value	Gain/(Loss)

JNL/Goldman Sachs Core Plus Bond Fund (continued)								JNL/Goldman Sachs Emerging Markets Debt Fund (continued)
								RUB/USD	04/12/2010	RUB	129,054	4,380	132
	USD/BRL	04/12/2010	BRL	(529)	(297)	2		RUB/USD	04/12/2010	RUB	133,650	4,536	136
	USD/CHF	06/16/2010	CHF	(2,646)	(2,511)	(54)		RUB/USD	04/12/2010	RUB	113,457	3,851	96
	USD/CHF	06/16/2010	CHF	(1,538)	(1,460)	(22)		RUB/USD	04/12/2010	RUB	29,538	1,002	2
	USD/EUR	06/16/2010	EUR	(2,491)	(3,365)	16		TRY/USD	06/16/2010	TRY	12,678	8,251	73
	USD/EUR	06/16/2010	EUR	(2,068)	(2,793)	44		TRY/USD	06/16/2010	TRY	6,281	4,088	(1)
	USD/EUR	06/16/2010	EUR	(2,100)	(2,836)	22		ZAR/USD	06/17/2010	ZAR	30,778	4,170	81
	USD/EUR	06/16/2010	EUR	(1,078)	(1,456)	(18)		ZAR/USD	06/17/2010	ZAR	89,652	12,148	262
	USD/EUR	06/16/2010	EUR	(2,134)	(2,882)	(20)		USD/BRL	04/12/2010	BRL	(6,457)	(3,626)	25
	USD/GBP	06/16/2010	GBP	(929)	(1,409)	9		USD/BRL	04/12/2010	BRL	(8,284)	(4,652)	(322)
	USD/JPY	06/16/2010	JPY	(125,317)	(1,341)	64		USD/BRL	04/12/2010	BRL	(3,995)	(2,243)	(119)
	USD/JPY	06/16/2010	JPY	(7,334)	(78)	3		USD/BRL	04/12/2010	BRL	(4,832)	(2,713)	(84)
	USD/JPY	06/16/2010	JPY	(132,404)	(1,417)	14		USD/BRL	04/12/2010	BRL	(6,356)	(3,569)	(141)
	USD/NOK	06/16/2010	NOK	(8,690)	(1,457)	(26)		USD/CLP	04/12/2010	CLP	(739,357)	(1,409)	47
	USD/NZD	06/16/2010	NZD	(1,913)	(1,352)	(15)		USD/CLP	04/12/2010	CLP	(2,151,189)	(4,100)	(24)
					$   (58,008)	$           176		USD/CNY	06/14/2010	CNY	(21,655)	(3,173)	19
JNL/Goldman Sachs Emerging Markets Debt Fund								USD/EUR	06/16/2010	EUR	(8,900)	(12,021)	145
	BRL/USD	04/12/2010	BRL	7,957	$       4,468	$           (27)		USD/HUF	06/16/2010	HUF	(2,015,610)	(10,166)	23
	BRL/USD	04/12/2010	BRL	2,370	1,331	79		USD/IDR	04/12/2010	IDR	(19,698,000)	(2,162)	(62)
	BRL/USD	04/12/2010	BRL	3,944	2,214	129		USD/IDR	04/12/2010	IDR	(153,788,184)	(16,879)	(130)
	BRL/USD	04/12/2010	BRL	7,884	4,427	269		USD/INR	04/12/2010	INR	(198,411)	(4,417)	(172)
	BRL/USD	04/12/2010	BRL	11,676	6,556	255		USD/INR	04/12/2010	INR	(829,934)	(18,475)	(322)
	BRL/USD	04/12/2010	BRL	3,824	2,147	40		USD/JPY	06/16/2010	JPY	(551,274)	(5,899)	182
	CLP/USD	04/12/2010	CLP	1,927,051	3,673	(262)		USD/KRW	04/12/2010	KRW	(4,979,130)	(4,399)	(154)
	CLP/USD	04/12/2010	CLP	963,495	1,836	6		USD/KRW	04/12/2010	KRW	(20,799,946)	(18,378)	(65)
	CNY/USD	06/14/2010	CNY	21,655	3,173	(44)		USD/MXN	06/16/2010	MXN	(53,116)	(4,263)	(66)
	HUF/USD	06/16/2010	HUF	2,296,600	11,583	83		USD/MXN	06/16/2010	MXN	(48,720)	(3,910)	(59)
	IDR/USD	04/12/2010	IDR	27,378,000	3,005	80		USD/MYR	04/08/2010	MYR	(11,760)	(3,605)	(62)
	IDR/USD	04/12/2010	IDR	25,429,950	2,791	61		USD/MYR	04/12/2010	MYR	(4,014)	(1,230)	(13)
	IDR/USD	04/12/2010	IDR	13,829,600	1,518	53		USD/MYR	04/12/2010	MYR	(48,932)	(14,995)	(261)
	IDR/USD	04/12/2010	IDR	10,055,980	1,104	41		USD/PHP	04/12/2010	PHP	(474,942)	(10,502)	(141)
	IDR/USD	04/12/2010	IDR	48,030,950	5,272	135		USD/RUB	04/12/2010	RUB	(179,146)	(6,080)	(256)
	IDR/USD	04/12/2010	IDR	34,702,984	3,809	103		USD/RUB	04/12/2010	RUB	(124,798)	(4,236)	(22)
	IDR/USD	04/12/2010	IDR	14,058,720	1,543	41		USD/TRY	06/16/2010	TRY	(9,076)	(5,907)	(87)
	IDR/USD	07/12/2010	IDR	153,788,184	16,581	(27)		USD/TRY	06/16/2010	TRY	(3,177)	(2,067)	(22)
	IDR/USD	07/12/2010	IDR	19,129,170	2,062	(15)		USD/TRY	06/16/2010	TRY	(10,383)	(6,757)	(134)
	INR/USD	04/12/2010	INR	118,148	2,630	76		USD/TRY	06/16/2010	TRY	(9,844)	(6,407)	(92)
	INR/USD	04/12/2010	INR	338,423	7,534	196		USD/ZAR	06/17/2010	ZAR	(56,081)	(7,599)	(173)
	INR/USD	04/12/2010	INR	29,051	647	19						$  118,040	$         2,925
	INR/USD	04/12/2010	INR	148,882	3,314	128	JNL/Ivy Asset Strategy Fund
	INR/USD	04/12/2010	INR	338,477	7,535	215		CNY/USD	10/25/2010	CNY	12,600	$      1,849	$            (53)
	INR/USD	04/12/2010	INR	55,364	1,232	16		JPY/USD	12/20/2010	JPY	333,000	3,567	(105)
	INR/USD	07/12/2010	INR	829,934	18,322	253		JPY/USD	12/20/2010	JPY	174,400	1,868	(32)
	KRW/USD	04/12/2010	KRW	3,036,805	2,683	31		KRW/JPY	07/13/2010	JPY	(343,876)	(3,680)	18
	KRW/USD	04/12/2010	KRW	8,205,428	7,250	47		KRW/JPY	07/13/2010	JPY	(670,331)	(7,174)	45
	KRW/USD	04/12/2010	KRW	3,697,353	3,267	81		KRW/JPY	07/13/2010	JPY	(214,249)	(2,293)	51
	KRW/USD	04/12/2010	KRW	1,034,143	914	22		NOK/EUR	08/10/2010	EUR	(1,200)	(1,621)	27
	KRW/USD	04/12/2010	KRW	8,441,424	7,459	139		NOK/EUR	08/10/2010	EUR	(3,000)	(4,052)	69
	KRW/USD	04/12/2010	KRW	1,363,923	1,205	7		USD/EUR	06/18/2010	EUR	(4,300)	(5,808)	107
	KRW/USD	07/12/2010	KRW	20,799,946	18,315	50		USD/EUR	06/25/2010	EUR	(6,000)	(8,104)	14
	MXN/USD	06/16/2010	MXN	351,104	28,178	642		USD/GBP	06/18/2010	GBP	(8,800)	(13,348)	(6)
	MXN/USD	06/16/2010	MXN	31,765	2,549	56		USD/GBP	06/18/2010	GBP	(6,900)	(10,466)	(75)
	MXN/USD	06/16/2010	MXN	55,901	4,486	62		USD/JPY	12/20/2010	JPY	(161,400)	(1,729)	82
	MXN/USD	06/16/2010	MXN	53,074	4,260	63		USD/JPY	12/20/2010	JPY	(1,000,000)	(10,711)	55
	MYR/USD	04/08/2010	MYR	11,760	3,605	105		USD/JPY	12/20/2010	JPY	(187,400)	(2,007)	60
	MYR/USD	04/12/2010	MYR	11,468	3,514	123		USD/JPY	12/20/2010	JPY	(480,000)	(5,141)	205
	MYR/USD	04/12/2010	MYR	2,134	654	26		USD/JPY	12/20/2010	JPY	(10,800)	(116)	4
	MYR/USD	04/12/2010	MYR	2,927	897	47		USD/ZAR	06/18/2010	ZAR	(18,500)	(2,506)	(36)
	MYR/USD	04/12/2010	MYR	11,273	3,455	165						$  (71,472)	$            430
	MYR/USD	04/12/2010	MYR	3,915	1,200	45	JNL/JPMorgan International Value Fund
	MYR/USD	04/12/2010	MYR	4,007	1,228	30		AUD/USD	05/26/2010	AUD	46,757	$    42,658	$         1,375
	MYR/USD	04/12/2010	MYR	17,220	5,277	166		AUD/USD	05/26/2010	AUD	2,688	2,453	(12)
	MYR/USD	07/12/2010	MYR	11,760	3,585	53		CAD/USD	05/26/2010	CAD	765	753	2
	MYR/USD	07/12/2010	MYR	48,932	14,918	221		EUR/USD	05/26/2010	EUR	1,951	2,636	(30)
	PHP/USD	04/12/2010	PHP	120,940	2,674	55		EUR/USD	05/26/2010	EUR	2,340	3,161	(29)
	PHP/USD	04/12/2010	PHP	29,252	647	19		EUR/USD	05/26/2010	EUR	2,445	3,303	2
	PHP/USD	04/12/2010	PHP	170,153	3,762	102		EUR/USD	05/26/2010	EUR	20,203	27,288	18
	PHP/USD	04/12/2010	PHP	154,597	3,418	82		EUR/USD	05/26/2010	EUR	2,597	3,508	(2)
	PHP/USD	07/12/2010	PHP	474,942	10,397	119		EUR/USD	05/26/2010	EUR	2,804	3,788	36
	RUB/USD	04/12/2010	RUB	152,658	5,181	111		JPY/USD	05/26/2010	JPY	414,345	4,433	(84)
	RUB/USD	04/12/2010	RUB	106,975	3,631	65		JPY/USD	05/26/2010	JPY	591,012	6,323	(298)
	RUB/USD	04/12/2010	RUB	74,758	2,537	49

JNL Series Trust (Unaudited)
Notes to the Schedules of Investments (continued)
March 31, 2010
Summary of Open Forward Foreign Currency Contracts (in thousands) (continued)
	Currency	Settlement	Notional	Currency	Unrealized	Currency	Settlement	Notional	Currency	Unrealized
	Purchased/Sold	Date	Amount	Value	Gain/(Loss)	Purchased/Sold	Date	Amount	Value	Gain/(Loss)

JNL/JPMorgan International Value Fund (continued)							JNL/Mellon Capital Management Global Alpha Fund (continued)
								USD/CHF	06/16/2010	CHF	(322)	(305)	-
	JPY/USD	05/26/2010	JPY	354,531	3,793	(135)		USD/CHF	06/16/2010	CHF	(483)	(458)	-
	SEK/USD	05/26/2010	SEK	76,787	10,636	113		USD/EUR	06/16/2010	EUR	(3,707)	(5,007)	47
	SGD/USD	05/26/2010	SGD	11,539	8,246	94		USD/EUR	06/16/2010	EUR	(2,068)	(2,794)	15
	USD/AUD	05/26/2010	AUD	(6,277)	(5,726)	(206)		USD/EUR	06/16/2010	EUR	(2,068)	(2,794)	21
	USD/CAD	05/26/2010	CAD	(1,219)	(1,200)	(40)		USD/GBP	06/16/2010	GBP	(4,001)	(6,068)	59
	USD/CAD	05/26/2010	CAD	(1,148)	(1,131)	(41)		USD/GBP	06/16/2010	GBP	(923)	(1,400)	14
	USD/CAD	05/26/2010	CAD	(2,513)	(2,474)	(17)		USD/GBP	06/16/2010	GBP	(616)	(934)	10
	USD/CHF	05/26/2010	CHF	(2,998)	(2,845)	(81)		USD/GBP	06/16/2010	GBP	(616)	(934)	10
	USD/EUR	05/26/2010	EUR	(16,532)	(22,330)	162		USD/NOK	06/16/2010	NOK	(2,630)	(441)	9
	USD/EUR	05/26/2010	EUR	(2,205)	(2,979)	(2)		USD/NOK	06/16/2010	NOK	(405)	(68)	1
	USD/EUR	05/26/2010	EUR	(2,734)	(3,692)	41		USD/NOK	06/16/2010	NOK	(405)	(68)	1
	USD/EUR	05/26/2010	EUR	(2,003)	(2,705)	43		USD/NOK	06/16/2010	NOK	(607)	(102)	2
	USD/EUR	05/26/2010	EUR	(2,333)	(3,152)	(5)		USD/SEK	06/16/2010	SEK	(2,442)	(338)	5
	USD/GBP	05/26/2010	GBP	(8,775)	(13,311)	420		USD/SEK	06/16/2010	SEK	(5,738)	(795)	11
	USD/GBP	05/26/2010	GBP	(15,102)	(22,910)	287						$    14,237	$          (173)
	USD/GBP	05/26/2010	GBP	(1,746)	(2,648)	(31)	JNL/Mellon Capital Management International Index Fund
	USD/HKD	05/26/2010	HKD	(32,158)	(4,143)	(1)		AUD/USD	06/16/2010	AUD	477	$         434	$                1
	USD/JPY	05/26/2010	JPY	(1,052,489)	(11,261)	439		AUD/USD	06/16/2010	AUD	88	80	-
	USD/JPY	05/26/2010	JPY	(219,350)	(2,347)	20		AUD/USD	06/16/2010	AUD	1,026	934	1
	USD/SEK	05/26/2010	SEK	(12,086)	(1,674)	(9)		AUD/USD	06/16/2010	AUD	121	110	1
	USD/SGD	05/26/2010	SGD	(1,525)	(1,090)	(10)		AUD/USD	06/16/2010	AUD	121	110	-
	USD/SGD	05/26/2010	SGD	(3,262)	(2,331)	(23)		AUD/USD	06/16/2010	AUD	121	110	1
	USD/SGD	05/26/2010	SGD	(2,514)	(1,797)	-		AUD/USD	06/16/2010	AUD	120	110	1
	USD/TRY	05/26/2010	TRY	(4,785)	(3,126)	(38)		AUD/USD	06/16/2010	AUD	242	220	(1)
					$       8,107	$        1,958		AUD/USD	06/16/2010	AUD	366	333	(1)
JNL/Mellon Capital Management Global Alpha Fund								AUD/USD	06/16/2010	AUD	243	221	-
	AUD/USD	06/16/2010	AUD	13,624	$     12,399	$           285		AUD/USD	06/16/2010	AUD	122	111	1
	AUD/USD	06/16/2010	AUD	1,015	923	(4)		AUD/USD	06/16/2010	AUD	245	223	1
	AUD/USD	06/16/2010	AUD	234	213	(1)		AUD/USD	06/16/2010	AUD	123	112	2
	AUD/USD	06/16/2010	AUD	156	142	(1)		AUD/USD	06/16/2010	AUD	246	224	1
	AUD/USD	06/16/2010	AUD	156	142	(1)		EUR/USD	06/16/2010	EUR	346	467	(4)
	CAD/USD	06/16/2010	CAD	2,131	2,098	(11)		EUR/USD	06/16/2010	EUR	5,823	7,865	(60)
	CAD/USD	06/16/2010	CAD	328	323	(1)		EUR/USD	06/16/2010	EUR	523	707	(7)
	CAD/USD	06/16/2010	CAD	328	323	(1)		EUR/USD	06/16/2010	EUR	173	234	(2)
	CAD/USD	06/16/2010	CAD	492	484	(2)		EUR/USD	06/16/2010	EUR	290	391	(5)
	EUR/USD	06/16/2010	EUR	994	1,342	(25)		EUR/USD	06/16/2010	EUR	632	854	(14)
	EUR/USD	06/16/2010	EUR	153	207	(4)		EUR/USD	06/16/2010	EUR	369	498	(9)
	EUR/USD	06/16/2010	EUR	229	310	(6)		EUR/USD	06/16/2010	EUR	372	502	(6)
	EUR/USD	06/16/2010	EUR	153	207	(4)		EUR/USD	06/16/2010	EUR	654	883	(3)
	GBP/USD	06/16/2010	GBP	528	801	2		EUR/USD	06/16/2010	EUR	226	305	1
	GBP/USD	06/16/2010	GBP	1,717	2,605	6		EUR/USD	06/16/2010	EUR	760	1,027	-
	GBP/USD	06/16/2010	GBP	109	166	2		EUR/USD	06/16/2010	EUR	483	653	7
	GBP/USD	06/16/2010	GBP	287	435	6		EUR/USD	06/16/2010	EUR	822	1,110	12
	JPY/USD	06/16/2010	JPY	290,492	3,108	(110)		EUR/USD	06/16/2010	EUR	460	621	6
	JPY/USD	06/16/2010	JPY	308,490	3,301	(138)		EUR/USD	06/16/2010	EUR	831	1,122	5
	JPY/USD	06/16/2010	JPY	229,164	2,452	(100)		GBP/USD	06/16/2010	GBP	224	339	5
	JPY/USD	06/16/2010	JPY	98,311	1,052	(33)		GBP/USD	06/16/2010	GBP	764	1,158	16
	JPY/USD	06/16/2010	JPY	245,435	2,626	(83)		GBP/USD	06/16/2010	GBP	702	1,065	16
	JPY/USD	06/16/2010	JPY	53,130	569	(19)		GBP/USD	06/16/2010	GBP	1,080	1,638	22
	JPY/USD	06/16/2010	JPY	8,174	87	(3)		GBP/USD	06/16/2010	GBP	338	512	6
	JPY/USD	06/16/2010	JPY	12,261	131	(4)		GBP/USD	06/16/2010	GBP	56	85	1
	JPY/USD	06/16/2010	JPY	8,174	87	(3)		GBP/USD	06/16/2010	GBP	113	171	1
	NOK/USD	06/16/2010	NOK	11,120	1,864	(5)		GBP/USD	06/16/2010	GBP	332	504	1
	NOK/USD	06/16/2010	NOK	4,766	799	(2)		GBP/USD	06/16/2010	GBP	167	254	(3)
	NZD/USD	06/16/2010	NZD	5,547	3,921	50		GBP/USD	06/16/2010	GBP	168	255	(2)
	NZD/USD	06/16/2010	NZD	866	612	(5)		GBP/USD	06/16/2010	GBP	392	594	1
	NZD/USD	06/16/2010	NZD	133	94	(1)		GBP/USD	06/16/2010	GBP	112	170	2
	NZD/USD	06/16/2010	NZD	200	141	(1)		GBP/USD	06/16/2010	GBP	336	509	5
	NZD/USD	06/16/2010	NZD	133	94	(1)		GBP/USD	06/16/2010	GBP	226	342	6
	SEK/USD	06/16/2010	SEK	7,214	999	(20)		GBP/USD	06/16/2010	GBP	451	684	11
	SEK/USD	06/16/2010	SEK	1,110	154	(3)		GBP/USD	06/16/2010	GBP	284	431	9
	SEK/USD	06/16/2010	SEK	1,665	231	(5)		GBP/USD	06/16/2010	GBP	452	686	9
	SEK/USD	06/16/2010	SEK	1,110	154	(3)		JPY/USD	06/16/2010	JPY	27,450	294	(10)
	USD/CAD	06/16/2010	CAD	(178)	(175)	(1)		JPY/USD	06/16/2010	JPY	169,778	1,817	(57)
	USD/CAD	06/16/2010	CAD	(412)	(406)	(3)		JPY/USD	06/16/2010	JPY	161,855	1,732	(57)
	USD/CHF	06/16/2010	CHF	(2,094)	(1,987)	(37)		JPY/USD	06/16/2010	JPY	234,293	2,507	(79)
	USD/CHF	06/16/2010	CHF	(3,451)	(3,275)	(77)		JPY/USD	06/16/2010	JPY	64,015	685	(23)
	USD/CHF	06/16/2010	CHF	(194)	(184)	(3)		JPY/USD	06/16/2010	JPY	18,460	198	(7)
	USD/CHF	06/16/2010	CHF	(564)	(535)	(8)		JPY/USD	06/16/2010	JPY	27,825	298	(9)
	USD/CHF	06/16/2010	CHF	(2,092)	(1,986)	-		JPY/USD	06/16/2010	JPY	46,500	498	(17)
	USD/CHF	06/16/2010	CHF	(322)	(305)	-

JNL Series Trust (Unaudited)
Notes to the Schedules of Investments (continued)
March 31, 2010
Summary of Open Forward Foreign Currency Contracts (in thousands) (continued)
	Currency	Settlement	Notional	Currency	Unrealized	Currency	Settlement	Notional	Currency	Unrealized
	Purchased/Sold	Date	Amount	Value	Gain/(Loss)	Purchased/Sold	Date	Amount	Value	Gain/(Loss)

JNL/Mellon Capital Management International Index Fund (continued)							JNL/PIMCO Real Return Fund (continued)
								USD/PHP	04/16/2010	PHP	(1,134)	(25)	(1)
	JPY/USD	06/16/2010	JPY	27,960	299	(10)						$  (17,334)	$         2,616
	JPY/USD	06/16/2010	JPY	37,520	401	(15)	JNL/PIMCO Total Return Bond Fund
	JPY/USD	06/16/2010	JPY	47,000	503	(20)		AUD/USD	04/01/2010	AUD	2,725	$      2,501	$              75
	JPY/USD	06/16/2010	JPY	56,400	604	(21)		AUD/USD	04/30/2010	AUD	2,725	2,494	17
	JPY/USD	06/16/2010	JPY	46,975	503	(9)		BRL/USD	04/05/2010	BRL	17,221	9,684	(36)
	JPY/USD	06/16/2010	JPY	66,115	707	(10)		BRL/USD	06/02/2010	BRL	17,221	9,563	(37)
	JPY/USD	06/16/2010	JPY	47,225	505	(4)		CNY/USD	08/25/2010	CNY	19,617	2,878	(9)
	JPY/USD	06/16/2010	JPY	48,100	515	(5)		CNY/USD	08/25/2010	CNY	80,820	11,855	(145)
	USD/AUD	06/16/2010	AUD	(1,488)	(1,354)	(5)		CNY/USD	08/25/2010	CNY	33,343	4,891	(109)
	USD/AUD	06/16/2010	AUD	(1,738)	(1,582)	1		CNY/USD	08/25/2010	CNY	465	68	(2)
	USD/EUR	06/16/2010	EUR	(4,849)	(6,549)	123		CNY/USD	08/25/2010	CNY	1,850	271	(7)
	USD/EUR	06/16/2010	EUR	(5,626)	(7,599)	(52)		CNY/USD	08/25/2010	CNY	465	68	(2)
	USD/GBP	06/16/2010	GBP	(2,625)	(3,982)	2		CNY/USD	08/25/2010	CNY	1,171	172	(4)
	USD/GBP	06/16/2010	GBP	(2,893)	(4,389)	(32)		EUR/USD	04/26/2010	EUR	586	792	(15)
	USD/JPY	06/16/2010	JPY	(408,522)	(4,371)	144		EUR/USD	04/26/2010	EUR	551	744	(14)
	USD/JPY	06/16/2010	JPY	(442,072)	(4,730)	36		KRW/USD	07/28/2010	KRW	82,064	72	3
					$       7,478	$         (101)		KRW/USD	07/28/2010	KRW	88,288	78	3
JNL/PIMCO Real Return Fund								KRW/USD	07/28/2010	KRW	146,777	129	5
	CNY/USD	06/07/2010	CNY	9,366	1,372	(10)		KRW/USD	08/27/2010	KRW	535,468	471	16
	CNY/USD	06/07/2010	CNY	17,558	2,572	(28)		KRW/USD	08/27/2010	KRW	372,441	327	8
	CNY/USD	11/17/2010	CNY	1,427	209	(6)		KRW/USD	11/12/2010	KRW	453,400	398	(2)
	CNY/USD	11/17/2010	CNY	7,257	1,065	(29)		KRW/USD	11/12/2010	KRW	767,653	674	4
	CNY/USD	11/17/2010	CNY	3,751	551	(16)		KRW/USD	11/12/2010	KRW	782,748	687	7
	CNY/USD	11/17/2010	CNY	3,759	552	(16)		KRW/USD	11/12/2010	KRW	503,036	442	12
	CNY/USD	11/17/2010	CNY	6,022	882	(28)		KRW/USD	11/12/2010	KRW	1,046,340	918	18
	CNY/USD	11/17/2010	CNY	3,925	575	(18)		KRW/USD	11/12/2010	KRW	2,399,739	2,106	76
	CNY/USD	01/10/2011	CNY	2,722	399	(11)		MXN/USD	04/22/2010	MXN	3,215	260	10
	CNY/USD	01/10/2011	CNY	4,848	712	(18)		MXN/USD	09/24/2010	MXN	3,215	255	1
	EUR/USD	04/26/2010	EUR	1,780	2,404	(6)		MYR/USD	06/14/2010	MYR	10,082	3,079	179
	EUR/USD	04/26/2010	EUR	4,661	6,296	72		PHP/USD	04/16/2010	PHP	11,525	255	5
	EUR/USD	04/26/2010	EUR	11,818	15,962	254		PHP/USD	11/15/2010	PHP	11,525	250	3
	KRW/USD	07/28/2010	KRW	721,680	635	35		SGD/USD	06/16/2010	SGD	294	210	(1)
	KRW/USD	07/28/2010	KRW	2,492,700	2,194	94		SGD/USD	06/16/2010	SGD	141	101	1
	KRW/USD	11/12/2010	KRW	680,100	597	(3)		SGD/USD	06/16/2010	SGD	338	242	4
	KRW/USD	11/12/2010	KRW	1,134,293	996	6		SGD/USD	09/16/2010	SGD	95	68	-
	KRW/USD	11/12/2010	KRW	1,162,611	1,021	11		USD/BRL	04/05/2010	BRL	(17,221)	(9,684)	35
	KRW/USD	11/12/2010	KRW	748,704	657	17		USD/CAD	04/06/2010	CAD	(4,087)	(4,024)	(100)
	KRW/USD	11/12/2010	KRW	1,569,510	1,378	28		USD/EUR	04/26/2010	EUR	(15,878)	(21,446)	984
	KRW/USD	11/12/2010	KRW	3,586,789	3,148	113		USD/EUR	04/26/2010	EUR	(2,987)	(4,034)	75
	MXN/USD	04/22/2010	MXN	96,715	7,809	521		USD/EUR	04/26/2010	EUR	(3,509)	(4,740)	49
	MXN/USD	04/22/2010	MXN	23,938	1,933	180		USD/EUR	04/26/2010	EUR	(3,110)	(4,201)	84
	MXN/USD	04/22/2010	MXN	13,113	1,059	59		USD/EUR	04/26/2010	EUR	(26,425)	(35,692)	484
	MXN/USD	09/24/2010	MXN	133,766	10,607	245		USD/EUR	04/26/2010	EUR	(4,686)	(6,329)	22
	SGD/USD	06/16/2010	SGD	1,407	1,005	5		USD/EUR	04/26/2010	EUR	(620)	(837)	1
	SGD/USD	06/16/2010	SGD	3,133	2,238	18		USD/EUR	04/26/2010	EUR	(1,988)	(2,685)	41
	SGD/USD	06/16/2010	SGD	7,591	5,425	90		USD/EUR	04/26/2010	EUR	(819)	(1,106)	14
	USD/AUD	04/01/2010	AUD	(2,980)	(2,735)	(82)		USD/GBP	06/24/2010	GBP	(7,082)	(10,742)	(59)
	USD/AUD	04/30/2010	AUD	(2,980)	(2,727)	(18)		USD/JPY	04/19/2010	JPY	(185)	(2)	-
	USD/AUD	05/03/2010	AUD	(938)	(858)	(2)		USD/JPY	04/19/2010	JPY	(608,590)	(6,510)	220
	USD/CAD	04/06/2010	CAD	(4,975)	(4,898)	(122)		USD/MXN	04/22/2010	MXN	(3,215)	(260)	(1)
	USD/CAD	04/06/2010	CAD	(5,702)	(5,614)	(15)		USD/PHP	04/16/2010	PHP	(11,525)	(255)	(3)
	USD/CAD	04/06/2010	CAD	(310)	(305)	1						$  (55,544)	$         1,910
	USD/CAD	04/06/2010	CAD	(3,107)	(3,059)	(8)	JNL/T. Rowe Price Short-Term Bond Fund
	USD/CAD	04/06/2010	CAD	(2,131)	(2,098)	(6)		CNY/USD	12/22/2010	CNY	32,250	$      4,733	$            (82)
	USD/CNY	06/07/2010	CNY	(2,769)	(406)	4		INR/USD	04/12/2010	INR	111,620	2,485	25
	USD/CNY	06/07/2010	CNY	(4,933)	(723)	7		KRW/USD	04/12/2010	KRW	2,760,965	2,440	(21)
	USD/EUR	04/26/2010	EUR	(13,720)	(18,531)	850						$      9,658	$            (78)
	USD/EUR	04/26/2010	EUR	(6,727)	(9,086)	351
	USD/EUR	04/26/2010	EUR	(9,291)	(12,549)	157
	USD/EUR	04/26/2010	EUR	(580)	(783)	13
	USD/EUR	04/26/2010	EUR	(2,107)	(2,846)	53
	USD/EUR	04/26/2010	EUR	(1,057)	(1,428)	5
	USD/EUR	04/26/2010	EUR	(1,500)	(2,026)	38
	USD/EUR	04/26/2010	EUR	(867)	(1,171)	23
	USD/EUR	04/26/2010	EUR	(1,188)	(1,605)	(6)
	USD/GBP	04/23/2010	GBP	(760)	(1,154)	46
	USD/GBP	06/24/2010	GBP	(2,325)	(3,526)	(19)
	USD/JPY	04/19/2010	JPY	(63,060)	(675)	25
	USD/JPY	04/19/2010	JPY	(90,300)	(966)	8
	USD/JPY	04/19/2010	JPY	(92,778)	(992)	7
	USD/MXN	04/22/2010	MXN	(133,766)	(10,801)	(252)

 

JNL Series Trust (Unaudited)

Notes to the Schedules of Investments (continued)

March 31, 2010

Summary of Interest Rate Swap Agreements (in thousands)
			Paying/					Unrealized
			Receiving		Expiration		Notional	Appreciation/
	Counterparty	Floating Rate Index	Floating Rate	Fixed Rate	Date		Amount4	(Depreciation)
JNL/Goldman Sachs Core Plus Bond Fund
	Bank of America, N.A.	3-Month LIBOR	Receiving	3.25%	06/16/2017		$       5,200	$               (64)
		CAD 90-Day Bankers Acceptance	Receiving	1.96%	07/20/2012	CAD	7,480	45
		CAD 90-Day Bankers Acceptance	Paying	3.92%	07/20/2020	CAD	1,760	6
	Barclays Bank PLC	British Pound 6-Month LIBOR	Receiving	3.51%	08/04/2015	GBP	8,730	(246)
		British Pound 6-Month LIBOR	Receiving	3.51%	08/05/2015	GBP	10,370	(291)
		British Pound 6-Month LIBOR	Receiving	3.47%	08/11/2015	GBP	8,240	(200)
		British Pound 6-Month LIBOR	Receiving	3.48%	08/16/2015	GBP	6,570	(158)
		British Pound 6-Month LIBOR	Receiving	3.41%	08/16/2015	GBP	9,790	(187)
		British Pound 6-Month LIBOR	Paying	4.16%	08/04/2020	GBP	14,640	350
		British Pound 6-Month LIBOR	Paying	4.16%	08/05/2020	GBP	17,380	427
		British Pound 6-Month LIBOR	Paying	4.18%	08/11/2020	GBP	13,810	348
		British Pound 6-Month LIBOR	Paying	4.19%	08/16/2020	GBP	11,010	291
		British Pound 6-Month LIBOR	Paying	4.16%	08/16/2020	GBP	16,400	358
		British Pound 6-Month LIBOR	Receiving	4.37%	08/04/2025	GBP	7,320	(136)
		British Pound 6-Month LIBOR	Receiving	4.37%	08/05/2025	GBP	8,690	(156)
		British Pound 6-Month LIBOR	Receiving	4.42%	08/11/2025	GBP	6,900	(177)
		British Pound 6-Month LIBOR	Receiving	4.44%	08/16/2025	GBP	5,510	(155)
		British Pound 6-Month LIBOR	Receiving	4.42%	08/16/2025	GBP	8,200	(203)
	BNP Paribas	6-Month EURIBOR	Receiving	3.00%	06/16/2015	EUR	1,310	(42)
		6-Month EURIBOR	Receiving	3.00%	06/16/2015	EUR	160	(5)
	Credit Suisse International	3-Month LIBOR	Receiving	4.25%	12/17/2013		160	(6)
		3-Month LIBOR	Receiving	4.25%	06/16/2040		8,000	472
	Deutsche Bank AG	3-Month LIBOR	Receiving	3.25%	06/16/2017		7,300	13
		3-Month LIBOR	Receiving	3.25%	06/16/2017		6,500	8
		3-Month LIBOR	Receiving	3.75%	06/16/2020		8,900	220
		6-Month EURIBOR	Paying	3.75%	06/16/2020	EUR	4,830	111
		6-Month EURIBOR	Paying	4.00%	06/16/2040	EUR	6,790	219
		KRW 3-Month CD Rate	Paying	2.82%	01/28/2011	KRW	2,437,000	(4)
		KRW 3-Month CD Rate	Paying	3.87%	06/12/2011	KRW	1,400,000	9
		KRW 3-Month CD Rate	Paying	3.69%	06/26/2011	KRW	7,020,000	31
		KRW 3-Month CD Rate	Paying	3.62%	07/06/2011	KRW	2,923,122	16
		KRW 3-Month CD Rate	Paying	3.63%	07/07/2011	KRW	4,883,824	27
	JPMorgan Chase Bank N.A	CAD 90-Day Bankers Acceptance	Receiving	1.94%	08/03/2012	CAD	8,200	60
		CAD 90-Day Bankers Acceptance	Paying	3.93%	08/03/2020	CAD	1,930	4
		KRW 3-Month CD Rate	Paying	2.83%	01/28/2011	KRW	2,369,000	(4)
		KRW 3-Month CD Rate	Paying	3.90%	06/15/2011	KRW	2,300,000	16
		KRW 3-Month CD Rate	Paying	3.72%	06/22/2011	KRW	6,700,000	33
		KRW 3-Month CD Rate	Paying	3.66%	07/08/2011	KRW	2,322,820	14
	Royal Bank of Canada	CAD 90-Day Bankers Acceptance	Receiving	2.01%	07/15/2012	CAD	12,410	60
		CAD 90-Day Bankers Acceptance	Receiving	1.91%	07/26/2012	CAD	9,380	69
		CAD 90-Day Bankers Acceptance	Receiving	2.01%	07/29/2012	CAD	9,430	53
		CAD 90-Day Bankers Acceptance	Receiving	1.94%	08/03/2012	CAD	9,990	73
		CAD 90-Day Bankers Acceptance	Paying	3.96%	07/15/2020	CAD	2,900	21
		CAD 90-Day Bankers Acceptance	Paying	3.84%	07/26/2020	CAD	2,210	(9)
		CAD 90-Day Bankers Acceptance	Paying	3.88%	07/29/2020	CAD	2,210	(3)
		CAD 90-Day Bankers Acceptance	Paying	3.87%	08/03/2020	CAD	2,330	(6)
								$            1,302
JNL/Goldman Sachs Emerging Markets Debt Fund
	Bank of America, N.A.	3-Month South Africa Johannesburg Interbank Rate	Paying	7.42%	02/13/2012	ZAR	200,000	$               218
	Citibank N.A.	6-Month Poland Warsaw Interbank Rate	Paying	4.70%	03/29/2012	PLN	150,000	127
		6-Month Sinacofi Chile Interbank Rate	Paying	5.24%	12/15/2014	CLP	3,000,000	203
	Deutsche Bank AG	3-Month South Africa Johannesburg Interbank Rate	Paying	7.36%	02/01/2012	ZAR	195,300	195
		6-Month Budapest Interbank Rate	Paying	6.35%	02/06/2012	HUF	2,132,000	146
		6-Month Budapest Interbank Rate	Paying	6.39%	02/15/2012	HUF	3,100,000	220
		6-Month Poland Warsaw Interbank Rate	Paying	4.89%	03/12/2012	PLN	56,649	127
		6-Month Poland Warsaw Interbank Rate	Paying	4.75%	03/22/2012	PLN	85,000	104
		6-Month Sinacofi Chile Interbank Rate	Paying	2.65%	03/19/2012	CLP	6,000,000	21
		6-Month Sinacofi Chile Interbank Rate	Paying	5.04%	11/18/2014	CLP	1,780,000	105
								$            1,466
JNL/PIMCO Real Return Fund
	Barclays Bank PLC	6-Month EURIBOR	Paying	5.00%	09/17/2010	EUR	2,900	$               166
		Brazil Interbank Deposit Rate	Paying	10.68%	01/02/2012	BRL	5,700	(10)
	HSBC Bank USA, N.A.	Brazil Interbank Deposit Rate	Paying	14.77%	01/02/2012	BRL	300	14
	JPMorgan Chase Bank, N.A.	3-Month LIBOR	Paying	4.00%	06/16/2015		16,600	(82)
		Brazil Interbank Deposit Rate	Paying	12.17%	01/02/2013	BRL	28,900	(4)
	Merrill Lynch Capital Services Inc.	Brazil Interbank Deposit Rate	Paying	14.77%	01/02/2012	BRL	1,400	66

JNL Series Trust (Unaudited)

Notes to the Schedules of Investments (continued)

March 31, 2010

Summary of Interest Rate Swap Agreements (in thousands) (continued)
			Paying/					Unrealized
			Receiving		Expiration		Notional	Appreciation/
	Counterparty	Floating Rate Index	Floating Rate	Fixed Rate	Date		Amount4	(Depreciation)
JNL/PIMCO Real Return Fund (continued)
	Merrill Lynch Capital Services Inc.	Brazil Interbank Deposit Rate	Paying	12.54%	01/02/2012	BRL	5,000	$               135
		Brazil Interbank Deposit Rate	Paying	12.54%	01/02/2012	BRL	15,300	374
	Morgan Stanley Capital Services Inc.	Brazil Interbank Deposit Rate	Paying	11.98%	01/02/2013	BRL	7,000	11
								$               670
JNL/PIMCO Total Return Bond Fund
	Barclays Bank PLC	Brazil Interbank Deposit Rate	Paying	10.60%	01/02/2012	BRL	1,500	$                 (1)
		France CPI ex Tobacco	Paying	2.10%	10/15/2010	EUR	1,100	51
		France CPI ex Tobacco	Paying	2.10%	10/15/2010	EUR	1,600	77
	BNP Paribas SA	6-Month EURIBOR	Paying	4.50%	03/18/2014	EUR	2,700	361
	Deutsche Bank AG	3-Month Australian Bank Bill	Paying	4.50%	06/15/2011	AUD	20,700	(129)
		3-Month Australian Bank Bill	Paying	4.50%	06/15/2011	AUD	1,800	(14)
		6-Month EURIBOR	Paying	3.00%	06/16/2015	EUR	38,400	1,180
		6-Month EURIBOR	Paying	3.00%	06/16/2015	EUR	21,600	632
		6-Month EURIBOR	Paying	3.00%	06/16/2015	EUR	81,100	2,210
	Goldman Sachs Bank USA	Brazil Interbank Deposit Rate	Paying	10.84%	01/02/2012	BRL	12,900	17
	HSBC Bank USA, N.A.	Brazil Interbank Deposit Rate	Paying	14.77%	01/02/2012	BRL	300	13
		Brazil Interbank Deposit Rate	Paying	10.61%	01/02/2012	BRL	1,400	(1)
	JPMorgan Chase Bank, N.A.	Brazil Interbank Deposit Rate	Paying	12.17%	01/02/2013	BRL	30,000	(7)
		Brazil Interbank Deposit Rate	Paying	12.17%	01/02/2013	BRL	49,800	-
		Brazil Interbank Deposit Rate	Paying	12.20%	01/02/2014	BRL	9,900	31
		Brazil Interbank Deposit Rate	Paying	12.20%	01/02/2014	BRL	6,700	23
		Mexican Interbank Rate	Paying	7.33%	01/28/2015	MXN	177,000	98
	Merrill Lynch Capital Services Inc.	Brazil Interbank Deposit Rate	Paying	11.98%	01/02/2012	BRL	4,700	67
		Brazil Interbank Deposit Rate	Paying	14.77%	01/02/2012	BRL	300	13
		Brazil Interbank Deposit Rate	Paying	14.77%	01/02/2012	BRL	500	24
		Brazil Interbank Deposit Rate	Paying	14.77%	01/02/2012	BRL	200	9
		Brazil Interbank Deposit Rate	Paying	12.54%	01/02/2012	BRL	6,600	193
	Morgan Stanley Capital Services Inc.	3-Month LIBOR	Paying	3.00%	12/16/2010		41,400	408
		3-Month LIBOR	Paying	3.00%	12/16/2010		53,600	526
		6-Month EURIBOR	Paying	2.50%	06/16/2015	EUR	2,800	4
	UBS AG Stamford	6-Month Australian Bank Bill	Paying	4.25%	09/15/2011	AUD	15,500	(252)
		Brazil Interbank Deposit Rate	Paying	10.58%	01/02/2012	BRL	3,500	17
		Brazil Interbank Deposit Rate	Paying	10.58%	01/02/2012	BRL	1,900	9
								$            5,559
Summary of Credit Default Swap Agreements (in thousands)
			Reference	Fixed				Unrealized
			Obligation	Received/	Expiration	Notional		Appreciation/
	Counterparty	Reference Obligation	Credit Rating 3	Pay Rate 6	Date	Amount4, 5	Value	(Depreciation)
JNL/Goldman Sachs Core Plus Bond Fund
	Credit default swap agreements - sell protection 1
	Deutsche Bank AG	MetLife Inc., 5.00%, 06/15/15	A3	1.00%	03/20/2015	$  (2,000)	$          (81)	$                 (4)
JNL/PIMCO Real Return Fund
	Credit default swap agreements - sell protection 1
	Deutsche Bank AG	American International Group Inc., 6.25%, 05/01/36	A3	5.00%	12/20/2013	$  (8,300)	$          791	$            1,467
	Credit default swap agreements - purchase protection 2
	Citibank N.A.	GATX Corp., 5.80%, 03/01/16	n/a	1.07%	03/20/2016	$    1,000	$            38	$                 38
	Bank of America, N.A.	International Lease Finance Corporation, 5.55%, 09/05/2012	n/a	5.00%	09/20/2013	1,100	(52)	(17)
	BNP Paribas SA	International Lease Finance Corporation, 6.63%, 11/15/13	n/a	1.60%	12/20/2013	500	32	32
	Deutsche Bank AG	JC Penney Corp.,Inc., 6.38%, 10/15/36	n/a	1.00%	06/20/2017	1,400	56	(32)
	Deutsche Bank AG	Knight, Inc., 6.50%, 09/01/12	n/a	1.00%	03/20/2016	2,000	63	(27)
	Morgan Stanley Capital Services Inc.	Knight, Inc., 6.50%, 09/01/12	n/a	1.00%	03/20/2016	3,000	94	(43)
	Deutsche Bank AG	Macy's Corp., 7.45%, 07/15/17	n/a	2.10%	09/20/2017	1,000	(15)	(16)
	Deutsche Bank AG	Marsh & McLennan Companies, Inc., 5.75%, 09/15/15	n/a	0.60%	09/20/2015	1,000	23	23
	JPMorgan Chase Bank, N.A.	Pearson, 5.70%, 06/01/14	n/a	0.83%	06/20/2014	1,000	(13)	(13)
	Barclays Bank PLC	REXAM PLC, 6.75%, 06/01/13	n/a	1.45%	06/20/2013	700	(14)	(14)
	Deutsche Bank AG	Seagate Technology HDD Holdings, 6.80%, 10/01/16	n/a	1.00%	12/20/2011	5,000	2	(58)
	JPMorgan Chase Bank, N.A.	Waste Management Inc., 6.10%,  03/15/18	n/a	0.79%	03/20/2018	1,100	20	20
						$  18,800	$          234	$             (107)
JNL/PIMCO Total Return Bond Fund
	Credit default swap agreements - sell protection 1
	Deutsche Bank AG	CDX.EM-12	Ba1	5.00%	12/20/2014	$  (1,500)	$          175	$                 11
	Citibank N.A.	CDX.HY-8 35-100%	B3	0.36%	06/20/2012	(4,815)	(15)	(15)
	Citibank N.A.	CDX.HY-8 35-100%	B3	0.40%	06/20/2012	(963)	(2)	(2)

JNL Series Trust (Unaudited)

Notes to the Schedules of Investments (continued)

March 31, 2010

Summary of Credit Default Swap Agreements (in thousands) (continued)
			Reference	Fixed Rate				Unrealized
			Obligation	Received/	Expiration	Notional		Appreciation/
	Counterparty	Reference Obligation	Credit Rating 3	Paid 6	Date	Amount4, 5	Value	(Depreciation)
JNL/PIMCO Total Return Bond Fund (continued)
	Credit default swap agreements - sell protection (continued) 1
	Deutsche Bank AG	CDX.IG-10 30-100%	Baa2	0.53%	06/20/2013	$  (1,350)	$            18	$                 18
	Goldman Sachs International	CDX.IG-10 30-100%	Baa2	0.46%	06/20/2013	(1,736)	19	19
	Deutsche Bank AG	CDX.IG-9 30-100%	Baa2	0.71%	12/20/2012	(7,137)	112	113
	Goldman Sachs International	CDX.IG-9 30-100%	Baa2	0.55%	12/20/2017	(1,447)	21	21
	Merrill Lynch International	Federated Republic of Brazil, 12.25%, 03/06/30	Baa3	1.95%	04/20/2016	(100)	3	4
	Barclays Bank PLC	Ford Motor Credit Co. LLC, 7.00%, 10/01/13	B1	5.65%	09/20/2012	(500)	34	35
	Goldman Sachs International	Ford Motor Credit Co. LLC, 7.00%, 10/01/13	B1	3.85%	09/20/2012	(200)	5	6
	UBS AG Stamford	Ford Motor Credit Co. LLC, 7.00%, 10/01/13	B1	6.20%	09/20/2012	(2,600)	211	217
	Morgan Stanley Capital Services Inc.	Gazprom, 8.63%, 04/28/34	Baa1	2.18%	02/20/2013	(700)	8	10
	UBS AG Stamford	Gazprom, 8.63%, 04/28/34	Baa1	2.18%	02/20/2013	(1,000)	12	14
	Citibank N.A.	General Electric Capital Corp., 5.63%, 09/15/17	Aa2	5.00%	06/20/2011	(1,000)	50	82
	Citibank N.A.	General Electric Capital Corp., 5.63%, 09/15/17	Aa2	4.80%	12/20/2013	(600)	73	74
	Citibank N.A.	General Electric Capital Corp., 5.63%, 09/15/17	Aa2	4.33%	12/20/2013	(800)	84	85
	Deutsche Bank AG	General Electric Capital Corp., 5.63%, 09/15/17	Aa2	1.00%	03/20/2011	(2,000)	1	13
	Deutsche Bank AG	General Electric Capital Corp., 5.63%, 09/15/17	Aa2	4.90%	12/20/2013	(1,100)	138	140
	Goldman Sachs International	General Electric Capital Corp., 5.63%, 09/15/17	Aa2	8.00%	03/20/2011	(1,000)	69	71
	Morgan Stanley Capital Services Inc.	General Electric Capital Corp., 5.63%, 09/15/17	Aa2	1.00%	09/20/2011	(1,300)	(1)	16
	BNP Paribas SA	General Electric Capital Corp., 6.00%, 06/15/12	Aa2	0.78%	03/20/2011	(700)	(1)	(1)
	Deutsche Bank AG	General Electric Capital Corp., 6.00%, 06/15/12	Aa2	0.80%	06/20/2011	(3,700)	(6)	(5)
	Deutsche Bank AG	General Electric Capital Corp., 6.00%, 06/15/12	Aa2	1.50%	09/20/2011	(300)	2	2
	Goldman Sachs International	General Electric Capital Corp., 6.00%, 06/15/12	Aa2	0.90%	12/20/2010	(300)	-	-
	Deutsche Bank AG	GMAC LLC, 6.88%, 08/28/12	B3	4.00%	09/20/2012	(2,400)	62	66
	Goldman Sachs International	GMAC LLC, 6.88%, 08/28/12	B3	3.20%	09/20/2012	(100)	1	1
	Deutsche Bank AG	Japan 20 Year Government Bond, 2.00%, 03/21/22	Aa2	1.00%	03/20/2015	(500)	9	2
	JPMorgan Chase Bank, N.A.	Japan 20 Year Government Bond, 2.00%, 03/21/22	Aa2	1.00%	03/20/2015	(900)	15	3
	Credit Suisse International	Republic of Panama, 8.88%, 09/30/27	Ba1	1.20%	02/20/2017	(200)	(2)	(2)
	JPMorgan Chase Bank, N.A.	Republic of Panama, 8.88%, 09/30/27	Ba1	1.25%	01/20/2017	(200)	(2)	(1)
	Morgan Stanley Capital Services Inc.	Republic of Panama, 8.88%, 09/30/27	Ba1	0.75%	01/20/2012	(200)	-	-
	Citibank N.A.	SLM Corp., 5.13%, 08/27/12	Ba1	4.85%	03/20/2013	(1,700)	88	90
	Deutsche Bank AG	UK Gilt Treasury Bond, 4.25%, 06/07/32	Aaa	1.00%	12/20/2014	(700)	8	1
	JPMorgan Chase Bank, N.A.	UK Gilt Treasury Bond, 4.25%, 06/07/32	Aaa	1.00%	12/20/2014	(200)	2	1
	JPMorgan Chase Bank, N.A.	UK Gilt Treasury Bond, 4.25%, 06/07/32	Aaa	1.00%	03/20/2015	(1,300)	14	6
	JPMorgan Chase Bank, N.A.	UK Gilt Treasury Bond, 4.25%, 06/07/32	Baa1	1.00%	03/20/2015	(2,700)	29	14
	Morgan Stanley Capital Services Inc.	UK Gilt Treasury Bond, 4.25%, 06/07/32	Aaa	1.00%	12/20/2014	(300)	3	1
	Deutsche Bank AG	United Mexican States, 7.50%, 04/08/33	Baa1	1.00%	03/20/2015	(3,600)	(23)	56
	JPMorgan Chase Bank, N.A.	United Mexican States, 7.50%, 04/08/33	Baa1	0.92%	03/20/2016	(500)	(8)	(8)
						$(52,348)	$       1,206	$            1,158
Summary of Total Return Swap Agreements (in thousands)
			Paying/
			Receiving					Unrealized
			Reference Entity		Expiration		Notional	Appreciation/
	Counterparty	Reference Entity	Total Return		Date		Amount4	(Depreciation)
JNL/Goldman Sachs Emerging Markets Debt Fund
	Deutsche Bank AG	Egyptian T-Bill, 0.00%, 04/06/10*	Receiving		04/06/2010	EGP	26,250	$                 67
		Egyptian T-Bill, 0.00%, 05/18/10*	Receiving		05/18/2010	EGP	40,000	61
		Egyptian T-Bill, 0.00%, 08/03/10*	Receiving		08/03/2010	EGP	10,000	22
	HSBC Bannk USA, N.A.	Egyptian T-Bill, 0.00%, 05/25/10*	Receiving		05/27/2010	EGP	13,150	10
								$               160

1	If the Fund is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Fund will either pay the buyer of protection an amount
	equal to the notional amount of the swap and take delivery of the referenced obligation or underlying securities comprising the referenced index or pay a net settlement amount in the
	form of cash or securities equal to the notional amount of the swap agreement less the recovery value of the reference obligation or underlying securities comprising the referenced index.
2	If the Fund is a buyer of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Fund will either receive from the seller of protection an
	amount equal to the notional amount of the swap agreeement and deliver the referenced obligation or underlying securities comprising the referenced index or receive a net settlement
	amount in the form of cash or securities equal to the notional amount of the swap agreement less the recovery value of the referenced obligation or underlying securities comprising the
	referenced index.
3	Reference obligation credit ratings are provided for instances when a Fund has sold protection. Moody's Ratings are provided for instances when the underlying reference obligation consists
	of a single entity.  For instances when the underlying reference obligation consists of an index, the rating is calculated based on a weighted average of the index constituents' credit rating.
4	Notional amount is stated in USD unless otherwise noted.
5	The maximum potential amount the Fund could be required to pay as a seller of credit protection or receive as a buyer of credit protection if a credit event occurs is limited to the total
	notional amount which is defined under the terms of that particular swap agreement.
6	If the Fund is a buyer of protection, the Fund pays the fixed rate.  If the Fund is a seller of protection, the Fund receives the fixed rate.
*	Swap agreement fair valued in good faith in accordance with procedures established by the Trust's Board of Trustees.  Fair valued securities may be classified as Level 2 or
	Level 3 for FASB ASC Topic 820 disclosures based on the securities valuation inputs.  See FASB ASC Topic 820 note.

JNL Series Trust (Unaudited)

Notes to the Schedules of Investments (continued) (dollar amounts in thousands)

March 31, 2010

Tax Matters - As of March 31, 2010, the cost of investments and components of net unrealized appreciation/(depreciation) for U.S. federal income tax purposes were as follows:

	Tax	Gross	Gross	Net Unrealized
	Cost of	Unrealized	Unrealized	Appreciation/
	Investments	Appreciation	Depreciation	(Depreciation)
JNL Institutional Alt 20 Fund Index	$     273,029	$   16,750	$         (803)	$       15,947
JNL Institutional Alt 35 Fund	409,773	30,087	(1,034)	29,053
JNL Institutional Alt 50 Fund	485,184	34,449	(1,190)	33,259
JNL Institutional Alt 65 Fund	326,996	22,217	(695)	21,522
JNL/AIM International Growth Fund	461,024	43,730	(30,695)	13,035
JNL/AIM Large Cap Growth Fund	609,767	106,109	(15,700)	90,409
JNL/AIM Global Real Estate Fund	429,880	21,435	(11,576)	9,859
JNL/AIM Small Cap Growth Fund	108,399	18,361	(5,712)	12,649
JNL/Capital Guardian Global Balanced Fund	309,533	26,223	(9,658)	16,565
JNL/Capital Guardian Global Diversified Research Fund	355,401	48,920	(11,371)	37,549
JNL/Capital Guardian International Small Cap Fund	178,637	22,886	(10,370)	12,516
JNL/Capital Guardian U.S. Growth Equity Fund	658,868	101,730	(16,510)	85,220
JNL/Credit Suisse Commodity Securities Fund	699,236	64,335	(18,992)	45,343
JNL/Credit Suisse Long/Short Fund	125,742	7,005	(2,640)	4,365
JNL/Eagle Core Equity Fund	151,889	16,602	(5,243)	11,359
JNL/Eagle SmallCap Equity Fund	297,575	66,335	(14,263)	52,072
JNL/Franklin Templeton Founding Strategy Fund	1,070,796	(5,463)	(159,209)	(164,672)
JNL/Franklin Templeton Global Growth Fund	460,439	35,410	(69,984)	(34,574)
JNL/Franklin Templeton Income Fund	936,918	51,572	(77,615)	(26,043)
JNL/Franklin Templeton Mutual Shares Fund	502,047	39,357	(46,546)	(7,189)
JNL/Franklin Templeton Small Cap Value Fund	217,250	31,986	(17,638)	14,348
JNL/Goldman Sachs Core Plus Bond Fund	954,130	21,869	(34,088)	(12,219)
JNL/Goldman Sachs Emerging Markets Debt Fund	397,827	15,076	(1,849)	13,227
JNL/Goldman Sachs Mid Cap Value Fund	322,556	44,790	(8,765)	36,025
JNL/Ivy Asset Strategy Fund	432,512	21,465	(5,064)	16,401
JNL/JPMorgan International Value Fund	520,663	49,978	(30,675)	19,303
JNL/JPMorgan MidCap Growth Fund	165,701	31,274	(6,974)	24,300
JNL/JPMorgan U.S. Government & Quality Bond Fund	752,571	32,244	(10,854)	21,390
JNL/Lazard Emerging Markets Fund	753,246	153,647	(18,923)	134,724
JNL/Lazard Mid Cap Equity Fund	171,205	26,713	(5,205)	21,508
JNL/M&G Global Basics Fund	125,587	11,977	(733)	11,244
JNL/M&G Global Leaders Fund	19,450	3,082	(348)	2,734
JNL/Mellon Capital Management 10 x 10 Fund Index	219,834	10,874	(25,018)	(14,144)
JNL/Mellon Capital Management Index 5 Fund	215,997	26,558	(5,593)	20,965
JNL/Mellon Capital Management European 30 Fund	15,793	268	(608)	(340)
JNL/Mellon Capital Management Pacific Rim 30 Fund	32,093	727	(607)	120
JNL/Mellon Capital Management S&P 500 Index Fund	1,041,179	177,462	(116,932)	60,530
JNL/Mellon Capital Management S&P 400
MidCap Index Fund	597,270	83,742	(72,950)	10,792
JNL/Mellon Capital Management Small Cap Index Fund	628,725	118,455	(88,189)	30,266
JNL/Mellon Capital Management International Index Fund	960,253	107,420	(120,921)	(13,501)
JNL/Mellon Capital Management Bond Index Fund	1,018,672	20,212	(7,628)	12,584
JNL/Mellon Capital Management Global Alpha Fund	95,269	-	-	-
JNL/Oppenheimer Global Growth Fund	351,087	45,166	(31,349)	13,817
JNL/PAM Asia ex-Japan Fund	105,834	11,479	(4,785)	6,694
JNL/PAM China-India Fund	260,534	33,364	(6,291)	27,073
JNL/PIMCO Real Return Fund	1,895,670	14,363	(26,936)	(12,573)
JNL/PIMCO Total Return Bond Fund	2,832,611	66,963	(36,908)	30,055
JNL/PPM America High Yield Bond Fund	758,167	54,925	(15,024)	39,901
JNL/PPM America Mid Cap Value Fund	36,290	3,118	(547)	2,571
JNL/PPM America Small Cap Value Fund	31,209	2,806	(928)	1,878
JNL/PPM America Value Equity Fund	99,294	12,451	(3,807)	8,644
JNL/Red Rocks Listed Private Equity Fund	308,153	45,338	(4,887)	40,451
JNL/S&P Managed Conservative Fund	696,926	25,347	(24,732)	615
JNL/S&P Managed Moderate Fund	1,156,587	62,313	(49,331)	12,982
JNL/S&P Managed Moderate Growth Fund	2,043,208	141,103	(157,830)	(16,727)
JNL/S&P Managed Growth Fund	1,671,422	112,961	(155,441)	(42,480)
JNL/S&P Managed Aggressive Growth Fund	688,730	26,571	(76,743)	(50,172)
JNL/S&P Disciplined Moderate Fund	202,749	12,914	(6,065)	6,849
JNL/S&P Disciplined Moderate Growth Fund	251,802	13,839	(5,354)	8,485
JNL/S&P Disciplined Growth Fund	91,988	2,931	(1,917)	1,014
JNL/S&P Competitive Advantage Fund	271,843	31,831	(5,936)	25,895
JNL/S&P Dividend Income & Growth Fund	275,999	24,276	(7,169)	17,107
JNL/S&P Intrinsic Value Fund	289,195	31,136	(3,618)	27,518
JNL/S&P Total Yield Fund	241,396	27,104	(3,463)	23,641
JNL/S&P 4 Fund	592,930	121,448	(2,742)	118,706
JNL/Select Balanced Fund	835,183	85,866	(18,658)	67,208
JNL/Select Money Market Fund	739,721	-	-	-
JNL/Select Value Fund	782,441	131,394	(32,126)	99,268
JNL/T. Rowe Price Established Growth Fund	1,027,568	198,785	(21,180)	177,605
JNL/T. Rowe Price Mid-Cap Growth Fund	906,213	201,044	(40,899)	160,145
JNL/T. Rowe Price Short-Term Bond Fund	634,877	7,451	(5,622)	1,829
JNL/T. Rowe Price Value Fund	867,068	128,422	(83,833)	44,589

For additional information on the Funds' policies regarding valuation of investments and other significant accounting matters, please refer to the Funds' most recent annual or semi-annual     

report.

Item 2.  Controls and Procedures.

(a) The registrant maintains disclosure controls and procedures that are designed to ensure that information required to be disclosed in the registrant's filings under the Securities Exchange Act of 1934, as amended, and the Investment Company Act of 1940, as amended, is recorded, processed, summarized and reported within the periods specified in the rules and forms of the U.S. Securities and Exchange Commission.  Such information is accumulated and communicated to the registrant's management, including its principal executive officer and principal financial officer, as appropriate, to allow timely decisions regarding required disclosure.  The registrant's management, including the principal executive officer and the principal financial officer, recognizes that any set of controls and procedures, no matter how well designed and operated, can provide only reasonable assurance of achieving the desired control objectives.

Within ninety (90) days prior to the filing date of this Quarterly Schedule of Portfolio Holdings on Form N-Q, the registrant had carried out an evaluation, under the supervision and with the participation of the registrant's management, including the registrant's principal executive officer and the registrant's principal financial officer, of the effectiveness of the design and operation of the registrant's disclosure controls and procedures.  Based on such evaluation, the registrant's principal executive officer and principal financial officer concluded that the registrant's disclosure controls and procedures are effective.

(b) There have been no significant changes in the registrant’s internal controls over financial reporting during the registrant’s last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the registrant’s internal controls over financial reporting.  There have been no significant changes in the registrant's internal controls or in other factors that could significantly affect the internal controls subsequent to the date of their evaluation in connection with the preparation of this Quarterly Schedule of Portfolio Holdings on Form N-Q.

Item 3.  Exhibits.

Certifications pursuant to Rule 30a-2(a) under the Investment Company Act of 1940, as amended, are attached hereto.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, and the Investment Company Act of 1940, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

JNL Series Trust
By:	/s/  Mark D. Nerud
	Mark D. Nerud
	Principal Executive Officer
Date:	May 28, 2010

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, and the Investment Company Act of 1940, as amended, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

By:	/s/  Mark D. Nerud
	Mark D. Nerud
	Principal Executive Officer
Date:	May 28, 2010

By:	/s/  Daniel W. Koors
	Daniel W. Koors
	Principal Financial Officer
Date:	May 28, 2010

Exhibit List

Exhibit 3(a): Certification of the Principal Executive Officer required by Rule 30a-2(a) under the Investment Company Act of 1940, as amended.

Exhibit 3(b): Certification of the Principal Financial Officer required by Rule 30a-2(a) under the Investment Company Act of 1940, as amended.