Guardian Life Insurance Co Of America 13F-HR Quarterly holdings report by institutional manager

The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE

OMB APPROVAL

OMB Number:		3235-0006
Expires:	Oct 31, 2018
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COLUMN 1	COLUMN 2	COLUMN 3	COLUMN 4	COLUMN 5			COLUMN 6	COLUMN 7	COLUMN 8
			VALUE	SHRS OR	SH/	PUT/	INVESTMENT	OTHER	VOTING AUTHORITY
NAME OF ISSUER	TITLE OF CLASS	CUSIP	(x$1000)	PRN AMT	PRN	CALL	DISCRETION	MANAGER	SOLE	SHARED	NONE
ADT CORP	COM	00101J106	106	2,654	SH		SOLE		2,654	0	0
AFLAC INC	COM	001055102	327	5,622	SH		SOLE		5,622	0	0
AGL RESOURCES INC	COM	001204106	61	1,418	SH		SOLE		1,418	0	0
AES CORP	COM	00130H105	89	7,450	SH		SOLE		7,450	0	0
AT&T INC	COM	00206R102	2,340	66,089	SH		SOLE		66,089	0	0
ABBOTT LABORATORIES	COM	002824100	659	18,902	SH		SOLE		18,902	0	0
ABBVIE INC	COM	00287Y109	786	19,022	SH		SOLE		19,022	0	0
ABERCROMBIE & FITCH CO	CL A	002896207	43	961	SH		SOLE		961	0	0
ACTAVIS INC	COM	00507K103	193	1,531	SH		SOLE		1,531	0	0
ADOBE SYSTEMS INC	COM	00724F101	273	6,002	SH		SOLE		6,002	0	0
ADVANCED MICRO DEVICES	COM	007903107	30	7,304	SH		SOLE		7,304	0	0
AETNA INC NEW	COM	00817Y108	291	4,577	SH		SOLE		4,577	0	0
AFFILIATED MANAGERS GROUP	NOTE	008252AL2	15,752	12,050,000	PRN		SOLE		12,050,000	0	0
AGILENT TECHNOLOGIES INC	COM	00846U101	179	4,177	SH		SOLE		4,177	0	0
AIR PRODUCTS AND CHEMICALS	COM	009158106	229	2,500	SH		SOLE		2,500	0	0
AIRGAS INC	COM	009363102	78	819	SH		SOLE		819	0	0
AIRTRAN CORP	NOTE	00949PAD0	5,126	3,600,000	PRN		SOLE		3,600,000	0	0
AKAMAI TECHNOLOGIES	COM	00971T101	91	2,137	SH		SOLE		2,137	0	0
ALCOA INC	COM	013817101	101	12,869	SH		SOLE		12,869	0	0
ALEXION PHARMACEUTICALS INC	COM	015351109	217	2,349	SH		SOLE		2,349	0	0
ALLEGHENY TECHNOLOGIES INC	COM	01741R102	34	1,287	SH		SOLE		1,287	0	0
ALLEGHENY TECHNOLOGIES INC	NOTE	01741RAD4	11,433	11,100,000	PRN		SOLE		11,100,000	0	0
ALLERGAN INC	COM	018490102	311	3,695	SH		SOLE		3,695	0	0
ALLIANCE DATA SYSTEMS CORP	NOTE	018581AD0	1,590	700,000	PRN		SOLE		700,000	0	0
ALLIANT TECHSYSTEMS INC	NOTE	018804AK0	8,258	7,200,000	PRN		SOLE		7,200,000	0	0
ALLSTATE CORP	COM	020002101	276	5,746	SH		SOLE		5,746	0	0
ALTERA CORP	COM	021441100	127	3,838	SH		SOLE		3,838	0	0
ALTRIA GROUP INC	COM	02209S103	846	24,188	SH		SOLE		24,188	0	0
AMAZON COM INC	COM	023135106	1,215	4,376	SH		SOLE		4,376	0	0
AMEREN CORP	COM	023608102	101	2,923	SH		SOLE		2,923	0	0
AMERICAN ELECTRIC POWER	COM	025537101	262	5,844	SH		SOLE		5,844	0	0
AMERICAN EXPRESS	COM	025816109	865	11,566	SH		SOLE		11,566	0	0
AMERICAN INTERNATIONAL GROUP	COM	026874784	794	17,766	SH		SOLE		17,766	0	0
AMERICAN TOWER CORP NEW	COM	03027X100	348	4,750	SH		SOLE		4,750	0	0
AMERISOURCEBERGEN CORP.	COM	03073E105	155	2,770	SH		SOLE		2,770	0	0
AMERIPRISE FINANCIAL INC	COM	03076C106	198	2,449	SH		SOLE		2,449	0	0
AMGEN INC	COM	031162100	889	9,008	SH		SOLE		9,008	0	0
AMPHENOL CORP	CL A	032095101	150	1,926	SH		SOLE		1,926	0	0
ANADARKO PETROLEUM CORP	COM	032511107	518	6,024	SH		SOLE		6,024	0	0
ANALOG DEVICES INC	COM	032654105	166	3,682	SH		SOLE		3,682	0	0
APACHE CORP	COM	037411105	395	4,708	SH		SOLE		4,708	0	0
APACHE CORP	PFD CONV SER D	037411808	13,444	281,000	PRN		SOLE		281,000	0	0
APARTMENT INVT & MGMT CO	CL A	03748R101	53	1,754	SH		SOLE		1,754	0	0
APOLLO GROUP INC.	COM	037604105	21	1,203	SH		SOLE		1,203	0	0
APPLE INC.	COM	037833100	4,476	11,300	SH		SOLE		11,300	0	0
APPLIED MATERIALS INC	COM	038222105	215	14,442	SH		SOLE		14,442	0	0
ARCHER DANIELS MIDLAND CO	COM	039483102	269	7,922	SH		SOLE		7,922	0	0
ARCHER DANIELS MIDLAND CO	NOTE 0.875% 2/1	039483AW2	5,041	5,000,000	PRN		SOLE		5,000,000	0	0
ARES CAPITAL CORP. C.S.B.	COM	04010LAB9	1,693	1,550,000	PRN		SOLE		1,550,000	0	0
ASSURANT INC	COM	04621X108	49	954	SH		SOLE		954	0	0
AUTODESK INC	COM	052769106	92	2,709	SH		SOLE		2,709	0	0
AUTOMATIC DATA PROCESSING	COM	053015103	402	5,836	SH		SOLE		5,836	0	0
AUTONATION, INC.	COM	05329W102	20	467	SH		SOLE		467	0	0
AUTOZONE INC	COM	053332102	186	440	SH		SOLE		440	0	0
AVALON BAY COMMUNITIES INC	COM	053484101	197	1,461	SH		SOLE		1,461	0	0
AVERY-DENNISON CORP	COM	053611109	52	1,213	SH		SOLE		1,213	0	0
AVON PRODUCTS INC	COM	054303102	109	5,193	SH		SOLE		5,193	0	0
BB&T CORPORATION	COM	054937107	285	8,413	SH		SOLE		8,413	0	0
BMC SOFTWARE INC	COM	055921100	71	1,583	SH		SOLE		1,583	0	0
BAKER HUGHES INC.	COM	057224107	245	5,317	SH		SOLE		5,317	0	0
BALL CORP	COM	058498106	75	1,799	SH		SOLE		1,799	0	0
BANK OF AMERICA CORP	COM	060505104	1,675	130,215	SH		SOLE		130,215	0	0
BANK OF NEW YORK MELLON CORP	COM	064058100	393	14,003	SH		SOLE		14,003	0	0
BARD C R INC	COM	067383109	100	920	SH		SOLE		920	0	0
BAXTER INTERNATIONAL INC	COM	071813109	455	6,565	SH		SOLE		6,565	0	0
BEAM INC	COM	073730103	122	1,929	SH		SOLE		1,929	0	0
BECTON DICKINSON & CO	COM	075887109	231	2,335	SH		SOLE		2,335	0	0
BED BATH & BEYOND INC.	COM	075896100	194	2,731	SH		SOLE		2,731	0	0
BEMIS CO.	COM	081437105	49	1,240	SH		SOLE		1,240	0	0
BERKSHIRE HATHAWAY INC DEL	CL B NEW	084670702	2,457	21,953	SH		SOLE		21,953	0	0
BEST BUY COMPANY INC	COM	086516101	87	3,194	SH		SOLE		3,194	0	0
BIOGEN IDEC INC	COM	09062X103	611	2,841	SH		SOLE		2,841	0	0
BLACKROCK INC	COM	09247X101	389	1,515	SH		SOLE		1,515	0	0
BLOCK H & R INC	COM	093671105	91	3,272	SH		SOLE		3,272	0	0
BOEING CO.	COM	097023105	839	8,189	SH		SOLE		8,189	0	0
BORG-WARNER AUTOMOTIVE INC	COM	099724106	119	1,384	SH		SOLE		1,384	0	0
BOSTON PROPERTIES INC	COM	101121101	948	8,993	SH		SOLE		8,993	0	0
BOSTON SCIENTIFIC CORP	COM	101137107	151	16,336	SH		SOLE		16,336	0	0
BOTTOMLINE TECH DEL INC	NOTE	101388AA4	10,367	9,500,000	PRN		SOLE		9,500,000	0	0
BRISTOL-MYERS SQUIBB CO	COM	110122108	881	19,705	SH		SOLE		19,705	0	0
BRISTOW GROUP, INC	NOTE 3.000% 6/1	110394AC7	11,905	10,100,000	PRN		SOLE		10,100,000	0	0
BROADCOM CORP	CL A	111320107	213	6,299	SH		SOLE		6,299	0	0
BROOKDALE SENIOR LIVING INC	NOTE 2.750% 6/1	112463AA2	6,535	5,550,000	PRN		SOLE		5,550,000	0	0
BROWN FORMAN CORP	CL B	115637209	123	1,823	SH		SOLE		1,823	0	0
CBS CORP NEW	CL B	124857202	344	7,042	SH		SOLE		7,042	0	0
CBRE GROUP INC	COM	12504L109	85	3,652	SH		SOLE		3,652	0	0
CF INDUSTRIES HOLDINGS INC	COM	125269100	122	714	SH		SOLE		714	0	0
C H ROBINSON WORLDWIDE INC	COM	12541W209	109	1,933	SH		SOLE		1,933	0	0
CIGNA CORP	COM	125509109	249	3,434	SH		SOLE		3,434	0	0
CME GROUP INC	COM	12572Q105	280	3,690	SH		SOLE		3,690	0	0
CMS ENERGY CORP.	COM	125896100	87	3,187	SH		SOLE		3,187	0	0
CSX CORP.	COM	126408103	285	12,285	SH		SOLE		12,285	0	0
CVS/ CAREMARK CORP	COM	126650100	847	14,818	SH		SOLE		14,818	0	0
CA INC	COM	12673P105	115	4,006	SH		SOLE		4,006	0	0
CABLEVISION SYS CORP	CL A NY CABLVS	12686C109	43	2,584	SH		SOLE		2,584	0	0
CABOT OIL & GAS CORP	COM	127097103	180	2,531	SH		SOLE		2,531	0	0
CACI INTL INC	NOTE 2.125% 5/0	127190AD8	9,820	8,200,000	PRN		SOLE		8,200,000	0	0
CAMERON INTERNATIONAL CORP.	COM	13342B105	182	2,982	SH		SOLE		2,982	0	0
CAMPBELL SOUP CO	COM	134429109	96	2,151	SH		SOLE		2,151	0	0
CAPITAL ONE FINANCIAL CORP	COM	14040H105	440	7,007	SH		SOLE		7,007	0	0
CARDINAL HEALTH INC	COM	14149Y108	194	4,102	SH		SOLE		4,102	0	0
CAREFUSION CORP	COM	14170T101	99	2,678	SH		SOLE		2,678	0	0
CARMAX INC	COM	143130102	127	2,745	SH		SOLE		2,745	0	0
CARNIVAL CORP	PAIRED CTF	143658300	183	5,348	SH		SOLE		5,348	0	0
CATERPILLAR INC	COM	149123101	650	7,883	SH		SOLE		7,883	0	0
CELGENE CORP	COM	151020104	589	5,040	SH		SOLE		5,040	0	0
CENTERPOINT ENERGY	COM	15189T107	121	5,146	SH		SOLE		5,146	0	0
CENTURYLINK INC	COM	156700106	266	7,530	SH		SOLE		7,530	0	0
CERNER CORP.	COM	156782104	169	1,755	SH		SOLE		1,755	0	0
CHART INDS INC	NOTE 2.000% 8/0	16115QAC4	13,794	9,200,000	PRN		SOLE		9,200,000	0	0
CHESAPEAKE ENERGY	COM	165167107	128	6,266	SH		SOLE		6,266	0	0
CHEVRONTEXACO CORP	COM	166764100	2,767	23,379	SH		SOLE		23,379	0	0
CHIPOTLE MEXICAN GRILL	COM	169656105	134	369	SH		SOLE		369	0	0
CHUBB CORP	COM	171232101	266	3,141	SH		SOLE		3,141	0	0
CINCINNATI FINANCIAL CORP	COM	172062101	81	1,765	SH		SOLE		1,765	0	0
CISCO SYSTEMS INC	COM	17275R102	1,560	64,166	SH		SOLE		64,166	0	0
CINTAS CORPORATION	COM	172908105	57	1,261	SH		SOLE		1,261	0	0
CITIGROUP INC	COM	172967424	1,754	36,569	SH		SOLE		36,569	0	0
CITRIX SYSTEMS INC.	COM	177376100	135	2,235	SH		SOLE		2,235	0	0
CLIFFS NATURAL RESOURCES INC	COM	18683K101	30	1,823	SH		SOLE		1,823	0	0
CLOROX COMPANY	COM	189054109	131	1,576	SH		SOLE		1,576	0	0
COACH INC.	COM	189754104	193	3,387	SH		SOLE		3,387	0	0
COCA-COLA CO.	COM	191216100	1,850	46,126	SH		SOLE		46,126	0	0
COCA COLA ENTERPRISES	COM	19122T109	111	3,158	SH		SOLE		3,158	0	0
COGNIZANT TECH SOLUTIONS	COM	192446102	227	3,623	SH		SOLE		3,623	0	0
COLGATE PALMOLIVE CO.	COM	194162103	606	10,582	SH		SOLE		10,582	0	0
COMCAST CORP NEW	CL A	20030N101	1,330	31,766	SH		SOLE		31,766	0	0
COMERICA INC	COM	200340107	90	2,259	SH		SOLE		2,259	0	0
COMPUTER SCIENCES CORP	COM	205363104	81	1,844	SH		SOLE		1,844	0	0
CONAGRA FOODS INC.	COM	205887102	174	4,980	SH		SOLE		4,980	0	0
CONOCOPHILLIPS	COM	20825C104	889	14,693	SH		SOLE		14,693	0	0
CONSOL ENERGY INC.	COM	20854P109	74	2,745	SH		SOLE		2,745	0	0
CONSOLIDATED EDISON INC	COM	209115104	205	3,524	SH		SOLE		3,524	0	0
CONSTELLATION BRANDS INC	COM	21036P108	95	1,825	SH		SOLE		1,825	0	0
CORNING, INC.	COM	219350105	252	17,720	SH		SOLE		17,720	0	0
COSTCO WHOLESALE CORP	COM	22160K105	580	5,242	SH		SOLE		5,242	0	0
COVANTA HLDG CORP	NOTE 3.250% 6/0	22282EAC6	11,159	8,650,000	PRN		SOLE		8,650,000	0	0
CROWN CASTLE INTL CORP.	COM	228227104	255	3,524	SH		SOLE		3,524	0	0
CUBIST PHARMACEUTICALS INC	NOTE 2.500% 11/0	229678AD9	12,263	7,000,000	PRN		SOLE		7,000,000	0	0
CUMMINS INC.	COM	231021106	230	2,124	SH		SOLE		2,124	0	0
D.R. HORTON INC	COM	23331A109	71	3,354	SH		SOLE		3,354	0	0
DR HORTON	NOTE 2.000% 5/1	23331ABB4	7,633	4,600,000	PRN		SOLE		4,600,000	0	0
DTE ENERGY COMPANY	COM	233331107	139	2,067	SH		SOLE		2,067	0	0
DANAHER CORP	COM	235851102	442	6,982	SH		SOLE		6,982	0	0
DARDEN RESTAURANTS INC	COM	237194105	78	1,551	SH		SOLE		1,551	0	0
DAVITA HEALTHCARE PARTNER,INC	COM	23918K108	123	1,017	SH		SOLE		1,017	0	0
DEALERTRACK TECHNOLOGIES	NOTE 1.500% 3/1	242309AB8	8,432	7,300,000	PRN		SOLE		7,300,000	0	0
DEERE & CO	COM	244199105	381	4,693	SH		SOLE		4,693	0	0
DELL INC	COM	24702R101	235	17,575	SH		SOLE		17,575	0	0
DENBURY RESOURCES INC	COM	247916208	78	4,495	SH		SOLE		4,495	0	0
DENTSPLY INTERNATIONAL INC.	COM	249030107	70	1,719	SH		SOLE		1,719	0	0
DEVON ENERGY CORP NEW	COM	25179M103	235	4,536	SH		SOLE		4,536	0	0
DIAMOND OFFSHORE DRILLING	COM	25271C102	57	827	SH		SOLE		827	0	0
DISNEY WALT CO	COM	254687106	1,372	21,727	SH		SOLE		21,727	0	0
DISCOVER FINANCIAL SERVICES	COM	254709108	284	5,962	SH		SOLE		5,962	0	0
DISCOVERY COMMUNICATIONS	COM SER A	25470F104	228	2,952	SH		SOLE		2,952	0	0
DIRECTV	COM	25490A309	425	6,898	SH		SOLE		6,898	0	0
DOLLAR GENERAL CORP	COM	256677105	184	3,639	SH		SOLE		3,639	0	0
DOLLAR TREE INC	COM	256746108	139	2,737	SH		SOLE		2,737	0	0
DOMINION RESOURCES INC.	COM	25746U109	394	6,935	SH		SOLE		6,935	0	0
DOMINION RES INC VA NEW	NOTE 2.125% 12/1	25746UAT6	11,857	7,100,000	PRN		SOLE		7,100,000	0	0
DOVER CORP	COM	260003108	163	2,102	SH		SOLE		2,102	0	0
DOW CHEMICAL	COM	260543103	466	14,493	SH		SOLE		14,493	0	0
DR. PEPPER SNAPPLE GROUP INC	COM	26138E109	113	2,451	SH		SOLE		2,451	0	0
DU PONT E I DE NEMOURS	COM	263534109	590	11,243	SH		SOLE		11,243	0	0
DUKE ENERGY CORP	COM	26441C204	572	8,470	SH		SOLE		8,470	0	0
DUN & BRADSTREET CORP	COM	26483E100	48	492	SH		SOLE		492	0	0
EMC CORP MASS	COM	268648102	598	25,325	SH		SOLE		25,325	0	0
EOG RESOURCES INC	COM	26875P101	430	3,262	SH		SOLE		3,262	0	0
EQT CORPORATION	COM	26884L109	143	1,803	SH		SOLE		1,803	0	0
ETFS PLATINUM TR	SH BEN INT	26922V101	5,688	43,359	SH		SOLE		43,359	0	0
ETFS PHYSICAL PALLADIUM SHARES	SH BEN INT	26923A106	3,633	56,220	SH		SOLE		56,220	0	0
E TRADE FINANCIAL CORP	COM	269246401	43	3,434	SH		SOLE		3,434	0	0
EASTMAN CHEMICAL	COM	277432100	130	1,852	SH		SOLE		1,852	0	0
EBAY INC	COM	278642103	726	14,042	SH		SOLE		14,042	0	0
ECOLAB INC	COM	278865100	271	3,185	SH		SOLE		3,185	0	0
EDISON INTERNATIONAL, INC.	COM	281020107	189	3,921	SH		SOLE		3,921	0	0
EDWARDS LIFESCIENCES SP	COM	28176E108	92	1,370	SH		SOLE		1,370	0	0
ELECTRONIC ARTS INC.	COM	285512109	83	3,612	SH		SOLE		3,612	0	0
EMERSON ELECTRIC CO	COM	291011104	474	8,689	SH		SOLE		8,689	0	0
ENCORE CAPITAL GROUP INC	NOTE 3.000% 11/2	292554AC6	9,845	8,000,000	PRN		SOLE		8,000,000	0	0
ENERSYS	NOTE 3.375% 6/0	29275YAA0	12,106	9,250,000	PRN		SOLE		9,250,000	0	0
ENTERGY CORP	COM	29364G103	149	2,142	SH		SOLE		2,142	0	0
EQUIFAX INC	COM	294429105	85	1,447	SH		SOLE		1,447	0	0
EQUINIX	NOTE 3.000% 10/1	29444UAG1	10,432	6,200,000	PRN		SOLE		6,200,000	0	0
EQUITY RESIDENTIAL	COM	29476L107	224	3,855	SH		SOLE		3,855	0	0
EXELON CORP	COM	30161N101	318	10,285	SH		SOLE		10,285	0	0
EXPEDIA INC	CL A	30212P303	68	1,128	SH		SOLE		1,128	0	0
EXPEDITORS INTL WASH INC	COM	302130109	95	2,489	SH		SOLE		2,489	0	0
EXPRESS SCRIPTS HOLDING CO.	COM	30219G108	608	9,849	SH		SOLE		9,849	0	0
EXXON MOBIL CORP	COM	30231G102	4,872	53,920	SH		SOLE		53,920	0	0
FLIR SYSTEMS INC.	COM	302445101	47	1,745	SH		SOLE		1,745	0	0
FMC CORP	COM	302491303	101	1,648	SH		SOLE		1,648	0	0
FMC TECHNOLOGIES INC	COM	30249U101	159	2,854	SH		SOLE		2,854	0	0
FAMILY DOLLAR STORES INC.	COM	307000109	72	1,159	SH		SOLE		1,159	0	0
FASTENAL COMPANY	COM	311900104	149	3,244	SH		SOLE		3,244	0	0
FEDEX CORP	COM	31428X106	346	3,513	SH		SOLE		3,513	0	0
F5 NETWORKS INC.	COM	315616102	65	945	SH		SOLE		945	0	0
FIDELITY NATIONAL INFORMATION SERVICES	COM	31620M106	151	3,528	SH		SOLE		3,528	0	0
FIDELITY NATIONAL FINANCIAL	NOTE 4.250% 8/1	31620RAE5	4,198	3,200,000	PRN		SOLE		3,200,000	0	0
FIFTH THIRD BANCORP	COM	316773100	190	10,534	SH		SOLE		10,534	0	0
FIRST HORIZON NATIONAL CORP	COM	320517105	33	2,936	SH		SOLE		2,936	0	0
FIRST SOLAR INC	COM	336433107	32	724	SH		SOLE		724	0	0
FISERV, INC.	COM	337738108	141	1,608	SH		SOLE		1,608	0	0
FIRSTENERGY CORP	COM	337932107	188	5,025	SH		SOLE		5,025	0	0
FLUOR CORP - NEW	COM	343412102	116	1,962	SH		SOLE		1,962	0	0
FLOWSERVE CORPORATION	COM	34354P105	95	1,755	SH		SOLE		1,755	0	0
FORD MOTOR CO.	COM	345370860	730	47,201	SH		SOLE		47,201	0	0
FOREST LABORATORIES, INC.	COM	345838106	116	2,819	SH		SOLE		2,819	0	0
FORTUNE BRANDS HOME & SECURITY INC	COM	34964C106	0	1	SH		SOLE		1	0	0
FOSSIL GROUP INC	COM	34988V106	66	641	SH		SOLE		641	0	0
FRANKLIN RESOURCES INC	COM	354613101	227	1,666	SH		SOLE		1,666	0	0
FREEPORT MCMORAN COPPER GOLD	COM	35671D857	338	12,237	SH		SOLE		12,237	0	0
FRONTIER COMMUNICATIONS CO.	COM	35906A108	49	12,013	SH		SOLE		12,013	0	0
GAMESTOP CORP	COM	36467W109	61	1,461	SH		SOLE		1,461	0	0
GANNETT CO	COM	364730101	68	2,766	SH		SOLE		2,766	0	0
GAP INC	COM	364760108	149	3,576	SH		SOLE		3,576	0	0
GENERAL DYNAMICS CORP	COM	369550108	313	3,995	SH		SOLE		3,995	0	0
GENERAL ELECTRIC	COM	369604103	2,902	125,137	SH		SOLE		125,137	0	0
GENERAL MILLS INC	COM	370334104	378	7,781	SH		SOLE		7,781	0	0
GENERAL MOTORS CORP	COM	37045V100	306	9,200	SH		SOLE		9,200	0	0
GENERAL MTRS CO	JR PFD CNV SRB	37045V209	13,672	283,000	PRN		SOLE		283,000	0	0
GENESEE & WYOMING INC	UNIT 10/01/2015	371559204	8,752	73,000	SH		SOLE		73,000	0	0
GENUINE PARTS CO	COM	372460105	145	1,862	SH		SOLE		1,862	0	0
GENWORTH FINANCIAL INC.	COM	37247D106	68	5,929	SH		SOLE		5,929	0	0
GILEAD SCIENCES INC	COM	375558103	938	18,321	SH		SOLE		18,321	0	0
GILEAD SCIENCES INC	NOTE 1.625% 5/0	375558AP8	27,158	12,000,000	PRN		SOLE		12,000,000	0	0
GOLDMAN SACHS	COM	38141G104	796	5,266	SH		SOLE		5,266	0	0
GOODYEAR TIRE & RUBBER CO	COM	382550101	45	2,949	SH		SOLE		2,949	0	0
GOODYEAR TIRE& RUBBER	PFD CONV 5.875%	382550309	11,066	224,130	PRN		SOLE		224,130	0	0
GOOGLE INC	CL A	38259P508	2,829	3,213	SH		SOLE		3,213	0	0
GRAINGER WW INC	COM	384802104	181	716	SH		SOLE		716	0	0
GREEN PLAINS RENEWABLE ENERGY	NOTE 5.750% 11/0	393222AB0	8,597	7,500,000	PRN		SOLE		7,500,000	0	0
HCP INC	COM	40414L109	248	5,456	SH		SOLE		5,456	0	0
HALLIBURTON CO	COM	406216101	468	11,214	SH		SOLE		11,214	0	0
HARLEY DAVIDSON	COM	412822108	149	2,726	SH		SOLE		2,726	0	0
HARMAN INTERNATIONAL INDUSTRIES, INC.	COM	413086109	45	822	SH		SOLE		822	0	0
HARRIS CORP	COM	413875105	67	1,356	SH		SOLE		1,356	0	0
HARTFORD FINANCIAL SERVICES GROUP	COM	416515104	162	5,254	SH		SOLE		5,254	0	0
HASBRO INC	COM	418056107	61	1,370	SH		SOLE		1,370	0	0
HEALTH CARE REIT INC	COM	42217K106	226	3,379	SH		SOLE		3,379	0	0
HEALTH CARE REIT INC	NOTE 3.000% 12/0	42217KAR7	4,234	3,200,000	PRN		SOLE		3,200,000	0	0
HELMERICH AND PAYNE	COM	423452101	80	1,278	SH		SOLE		1,278	0	0
HERSHEY FOODS CORP	COM	427866108	162	1,811	SH		SOLE		1,811	0	0
HESS CORP	COM	42809H107	238	3,582	SH		SOLE		3,582	0	0
HEWLETT PACKARD CO.	COM	428236103	583	23,500	SH		SOLE		23,500	0	0
HOME DEPOT INC	COM	437076102	1,394	17,994	SH		SOLE		17,994	0	0
HONEYWELL INTERNATIONAL INC.	COM	438516106	748	9,432	SH		SOLE		9,432	0	0
HORMEL FOODS CORP	COM	440452100	62	1,617	SH		SOLE		1,617	0	0
HOSPIRA INC	COM	441060100	76	1,981	SH		SOLE		1,981	0	0
HOST HOTELS & RESORTS INC	COM	44107P104	148	8,745	SH		SOLE		8,745	0	0
HUDSON CITY BANCORP INC.	COM	443683107	52	5,713	SH		SOLE		5,713	0	0
HUMANA INC	COM	444859102	161	1,907	SH		SOLE		1,907	0	0
HUNTINGTON BANCSHARES INC	COM	446150104	80	10,134	SH		SOLE		10,134	0	0
IXIA	NOTE 3.000% 12/1	45071RAB5	9,455	7,900,000	PRN		SOLE		7,900,000	0	0
ICONIX BRAND GROUP	NOTE 2.500% 6/0	451055AE7	8,635	7,650,000	PRN		SOLE		7,650,000	0	0
IDERA PHARMACEUTICALS INC.	COM	45168K306	244	371,759	SH		SOLE		371,759	0	0
ILLINOIS TOOL WORKS	COM	452308109	346	4,998	SH		SOLE		4,998	0	0
INTEL CORP	COM	458140100	1,442	59,523	SH		SOLE		59,523	0	0
INTEL CORP	SDCV 3.250% 8/0	458140AF7	15,293	12,000,000	PRN		SOLE		12,000,000	0	0
INTEGRYS ENERGY GROUP INC	COM	45822P105	55	936	SH		SOLE		936	0	0
INTERCONTINENTALEXCHANGE INC	COM	45865V100	154	867	SH		SOLE		867	0	0
INTL BUSINESS MACHINES CORP I.B.M.	COM	459200101	2,410	12,608	SH		SOLE		12,608	0	0
INTL FLAVORS & FRAGRANCES	COM	459506101	74	980	SH		SOLE		980	0	0
INTERNATIONAL GAME TECHNOLOGY	COM	459902102	53	3,179	SH		SOLE		3,179	0	0
INTL GAME TECH	NOTE 3.250% 5/0	459902AQ5	15,354	14,400,000	PRN		SOLE		14,400,000	0	0
INTERNATIONAL PAPER	COM	460146103	235	5,309	SH		SOLE		5,309	0	0
INTERPUBLIC GROUP COS INC	COM	460690100	72	4,981	SH		SOLE		4,981	0	0
INTUIT INC	COM	461202103	205	3,353	SH		SOLE		3,353	0	0
INTUITIVE SURGICAL INC	COM	46120E602	244	482	SH		SOLE		482	0	0
IRON MOUNTAIN INC	COM	462846106	53	2,008	SH		SOLE		2,008	0	0
ISHARES SILVER TRUST	COM	46428Q109	8,288	436,892	SH		SOLE		436,892	0	0
JDS UNIPHASE CORP	COM	46612J507	41	2,830	SH		SOLE		2,830	0	0
JP MORGAN CHASE & CO.	COM	46625H100	2,432	46,061	SH		SOLE		46,061	0	0
JABIL CIRCUIT INC	COM	466313103	45	2,217	SH		SOLE		2,217	0	0
JACOBS ENGINEERING GROUP INC.	COM	469814107	86	1,568	SH		SOLE		1,568	0	0
JOHNSON & JOHNSON	COM	478160104	2,888	33,639	SH		SOLE		33,639	0	0
JOHNSON CONTROLS	COM	478366107	294	8,226	SH		SOLE		8,226	0	0
JOY GLOBAL	COM	481165108	62	1,272	SH		SOLE		1,272	0	0
JUNIPER NETWORKS INC	COM	48203R104	120	6,205	SH		SOLE		6,205	0	0
KLA-TENCOR CORPORATION	COM	482480100	111	1,993	SH		SOLE		1,993	0	0
KANSAS CITY SOUTHERN INDS	COM	485170302	140	1,325	SH		SOLE		1,325	0	0
KELLOGG CO	COM	487836108	193	3,005	SH		SOLE		3,005	0	0
KEYCORP	COM	493267108	123	11,119	SH		SOLE		11,119	0	0
KIMBERLY-CLARK CORP	COM	494368103	453	4,666	SH		SOLE		4,666	0	0
KIMCO REALTY CORP	COM	49446R109	105	4,902	SH		SOLE		4,902	0	0
KINDER MORGAN INC.	COM	49456B101	290	7,603	SH		SOLE		7,603	0	0
KOHLS CORP	COM	500255104	129	2,547	SH		SOLE		2,547	0	0
KRAFT FOODS INC	COM	50076Q106	398	7,131	SH		SOLE		7,131	0	0
KROGER CO	COM	501044101	215	6,239	SH		SOLE		6,239	0	0
L BRANDS INC	COM	501797104	142	2,877	SH		SOLE		2,877	0	0
LSI LOGIC CORP	COM	502161102	47	6,616	SH		SOLE		6,616	0	0
L-3 COMMUNICATIONS HLDGS INC.	COM	502424104	93	1,082	SH		SOLE		1,082	0	0
LABORATORY CORP. OF AMERICA HOLDINGS	COM	50540R409	113	1,130	SH		SOLE		1,130	0	0
LABORATORY CORP. C.S.N. LYON	COM	50540RAG7	12,523	9,350,000	SH		SOLE		9,350,000	0	0
LAM RESEARCH CORP	COM	512807108	87	1,954	SH		SOLE		1,954	0	0
LAM RESEARCH CORP	NOTE 0.500% 5/1	512807AJ7	4,205	4,000,000	PRN		SOLE		4,000,000	0	0
LAUDER ESTEE	COM	518439104	190	2,884	SH		SOLE		2,884	0	0
LEGGETT & PLATT INC	COM	524660107	53	1,718	SH		SOLE		1,718	0	0
LEGG MASON INC	COM	524901105	43	1,382	SH		SOLE		1,382	0	0
LENNAR CORP	COM	526057104	72	1,987	SH		SOLE		1,987	0	0
LEUCADIA NATIONAL CORP	COM	527288104	93	3,529	SH		SOLE		3,529	0	0
LIFE TECHNOLOGIES CORP	COM	53217V109	154	2,079	SH		SOLE		2,079	0	0
LIFEPOINT HOSPITALS INC	NOTE 3.500% 5/1	53219LAH2	9,948	9,200,000	PRN		SOLE		9,200,000	0	0
LILLY ELI & CO	COM	532457108	590	12,014	SH		SOLE		12,014	0	0
LINCOLN NATIONAL CORP	COM	534187109	119	3,267	SH		SOLE		3,267	0	0
LINEAR TECHNOLOGY CORP	COM	535678106	103	2,798	SH		SOLE		2,798	0	0
LINEAR TECHNOLOGY CORP	NOTE 3.000% 5/0	535678AC0	9,498	9,100,000	PRN		SOLE		9,100,000	0	0
LOCKHEED MARTIN CORP	COM	539830109	349	3,220	SH		SOLE		3,220	0	0
LOEWS CORP	COM	540424108	165	3,721	SH		SOLE		3,721	0	0
LORILLARD INC	COM	544147101	199	4,566	SH		SOLE		4,566	0	0
LOWE'S COMPANIES	COM	548661107	546	13,359	SH		SOLE		13,359	0	0
M & T BANK CORPORATION	COM	55261F104	164	1,465	SH		SOLE		1,465	0	0
MGIC INVESTMENT CORP	NOTE 2.000% 4/0	552848AE3	5,663	5,000,000	PRN		SOLE		5,000,000	0	0
MGM MIRAGE MGM INC	NOTE 4.250% 4/1	55303QAE0	8,955	8,000,000	PRN		SOLE		8,000,000	0	0
MACERICH CO	COM	554382101	101	1,652	SH		SOLE		1,652	0	0
MACYS INC	COM	55616P104	228	4,758	SH		SOLE		4,758	0	0
MARATHON OIL CORP	COM	565849106	294	8,516	SH		SOLE		8,516	0	0
MARATHON PETROLEM CORP	COM	56585A102	283	3,989	SH		SOLE		3,989	0	0
MARSH & MCLENNAN COS	COM	571748102	263	6,598	SH		SOLE		6,598	0	0
MARRIOTT INTERNATIONAL INC	COM	571903202	118	2,932	SH		SOLE		2,932	0	0
MASCO CORP	COM	574599106	84	4,288	SH		SOLE		4,288	0	0
MASTERCARD INC	CL A	57636Q104	731	1,272	SH		SOLE		1,272	0	0
MATTEL INC	COM	577081102	188	4,145	SH		SOLE		4,145	0	0
MCCORMICK & CO	COM	579780206	112	1,589	SH		SOLE		1,589	0	0
MCDONALD'S CORP	COM	580135101	1,194	12,060	SH		SOLE		12,060	0	0
MCGRAW HILL FINANCIAL INC	COM	580645109	180	3,379	SH		SOLE		3,379	0	0
MCKESSON CORP	COM	58155Q103	321	2,801	SH		SOLE		2,801	0	0
MEAD JOHNSON NUTRITION CO	COM	582839106	193	2,433	SH		SOLE		2,433	0	0
MEADWESTVACO CORP	COM	583334107	72	2,110	SH		SOLE		2,110	0	0
MEDTRONIC INC	COM	585055106	626	12,172	SH		SOLE		12,172	0	0
MENTOR GRAPHICS CORP	SDCV 4.000% 4/0	587200AK2	13,804	11,350,000	PRN		SOLE		11,350,000	0	0
MERCK & COMPANY, INC.	COM	58933Y105	1,690	36,373	SH		SOLE		36,373	0	0
MERITAGE CORP	NOTE 1.875% 9/1	59001AAR3	988	900,000	PRN		SOLE		900,000	0	0
METLIFE INC	COM	59156R108	602	13,160	SH		SOLE		13,160	0	0
METLIFE INC	UNIT 99/99/9999	59156R116	15,012	274,000	PRN		SOLE		274,000	0	0
MICROSOFT CORP	COM	594918104	3,133	90,722	SH		SOLE		90,722	0	0
MICROCHIP TECHNOLOGY INC	COM	595017104	88	2,351	SH		SOLE		2,351	0	0
MICRON TECHNOLOGY	COM	595112103	176	12,296	SH		SOLE		12,296	0	0
MOLEX INC.	COM	608554101	49	1,665	SH		SOLE		1,665	0	0
MOLSON COORS BREWING CO	COM	60871R209	90	1,871	SH		SOLE		1,871	0	0
MONDELEZ INTERNATIONAL INC	COM	609207105	611	21,400	SH		SOLE		21,400	0	0
MONSANTO CO	COM	61166W101	637	6,447	SH		SOLE		6,447	0	0
MONSTER BEVERAGE CORPORATION	COM	611740101	105	1,734	SH		SOLE		1,734	0	0
MOODY'S CORP	COM	615369105	142	2,336	SH		SOLE		2,336	0	0
MORGAN STANLEY	COM	617446448	404	16,532	SH		SOLE		16,532	0	0
MOSAIC CO	COM	61945C103	179	3,329	SH		SOLE		3,329	0	0
MOTOROLA SOLUTIONS INC.	COM	620076307	192	3,322	SH		SOLE		3,322	0	0
MURPHY OIL CORP	COM	626717102	133	2,186	SH		SOLE		2,186	0	0
MYLAN INC	COM	628530107	148	4,760	SH		SOLE		4,760	0	0
MYLAN INC	NOTE 3.750% 9/1	628530AJ6	13,035	5,500,000	PRN		SOLE		5,500,000	0	0
NRG ENERGY, INC.	COM	629377508	104	3,889	SH		SOLE		3,889	0	0
NYSE EURONEXT	COM	629491101	121	2,925	SH		SOLE		2,925	0	0
NASDAQ STOCK MARKET INC	COM	631103108	46	1,416	SH		SOLE		1,416	0	0
NATIONAL-OILWELL INC	COM	637071101	353	5,129	SH		SOLE		5,129	0	0
NETAPP INC	COM	64110D104	164	4,342	SH		SOLE		4,342	0	0
NETFLIX INC.	COM	64110L106	141	668	SH		SOLE		668	0	0
NEWELL RUBBERMAID INC.	COM	651229106	90	3,441	SH		SOLE		3,441	0	0
NEWFIELD EXPLORATION COMPANY	COM	651290108	39	1,620	SH		SOLE		1,620	0	0
NEWMONT MINING CORP NEW	COM	651639106	179	5,970	SH		SOLE		5,970	0	0
NEWPARK RES	NOTE 4.000% 10/0	651718AC2	10,170	8,000,000	PRN		SOLE		8,000,000	0	0
TWENTY FIRST CENTURY FOX INC	COM	65248E104	785	24,065	SH		SOLE		24,065	0	0
NEXTERA ENERGY INC.	COM	65339F101	415	5,096	SH		SOLE		5,096	0	0
NIKE, INC	CL B	654106103	556	8,732	SH		SOLE		8,732	0	0
NISOURCE INC.	COM	65473P105	107	3,745	SH		SOLE		3,745	0	0
NOBLE ENERGY INC	COM	655044105	259	4,322	SH		SOLE		4,322	0	0
NORDSTROM INC	COM	655664100	108	1,803	SH		SOLE		1,803	0	0
NORFOLK SOUTHERN CORP	COM	655844108	275	3,785	SH		SOLE		3,785	0	0
NORTHEAST UTILITIES	COM	664397106	159	3,774	SH		SOLE		3,774	0	0
NORTHERN TRUST CORP	COM	665859104	152	2,619	SH		SOLE		2,619	0	0
NORTHROP GRUMMAN CORP	COM	666807102	236	2,854	SH		SOLE		2,854	0	0
NUANCE COMMUNICATIONS INC	NOTE 2.750% 11/0	67020YAF7	9,270	9,000,000	PRN		SOLE		9,000,000	0	0
NUCOR CORP.	COM	670346105	165	3,818	SH		SOLE		3,818	0	0
NVDIA CORP	COM	67066G104	99	7,091	SH		SOLE		7,091	0	0
O'REILLY AUTOMOTIVE INC	COM	67103H107	151	1,340	SH		SOLE		1,340	0	0
OCCIDENTAL PETROLEUM	COM	674599105	865	9,696	SH		SOLE		9,696	0	0
OMNICOM GROUP INC	COM	681919106	198	3,146	SH		SOLE		3,146	0	0
OMNICOM GROUP INC	NOTE 7/3	681919AV8	4,124	3,600,000	PRN		SOLE		3,600,000	0	0
ON SEMICONDUCTOR CORP	NOTE 2.625% 12/1	682189AH8	7,931	6,900,000	PRN		SOLE		6,900,000	0	0
ONEOK INC	COM	682680103	102	2,463	SH		SOLE		2,463	0	0
ORACLE SYSTEMS	COM	68389X105	1,365	44,440	SH		SOLE		44,440	0	0
OWENS-ILLINOIS INC	COM	690768403	55	1,969	SH		SOLE		1,969	0	0
PDL BIOPHARMA INC	NOTE 3.750% 5/0	69329YAC8	5,673	4,598,000	PRN		SOLE		4,598,000	0	0
PG&E CORPORATION	COM	69331C108	241	5,279	SH		SOLE		5,279	0	0
PNC FINANCIAL SERVICES GROUP	COM	693475105	463	6,354	SH		SOLE		6,354	0	0
PPG INDUSTRIES INC	COM	693506107	252	1,720	SH		SOLE		1,720	0	0
PPL CORPORATION	COM	69351T106	212	7,014	SH		SOLE		7,014	0	0
PPL CORPORATION	UNIT 99/99/9999S	69351T114	9,491	175,400	PRN		SOLE		175,400	0	0
PVH CORP	COM	693656100	117	939	SH		SOLE		939	0	0
PACCAR INC	COM	693718108	228	4,247	SH		SOLE		4,247	0	0
PALL CORP	COM	696429307	89	1,345	SH		SOLE		1,345	0	0
PARKER-HANNIFIN CORP	COM	701094104	171	1,794	SH		SOLE		1,794	0	0
PATTERSON COS INC	COM	703395103	38	1,007	SH		SOLE		1,007	0	0
PAYCHEX INC	COM	704326107	142	3,889	SH		SOLE		3,889	0	0
PEABODY ENERGY CORP.	COM	704549104	47	3,240	SH		SOLE		3,240	0	0
PENNEY JC COMPANY INC.	COM	708160106	29	1,720	SH		SOLE		1,720	0	0
PEOPLE'S UNITED FINANCIAL INC	COM	712704105	61	4,077	SH		SOLE		4,077	0	0
PEPCO HOLDINGS INC	COM	713291102	60	2,986	SH		SOLE		2,986	0	0
PEPSICO INC	COM	713448108	1,519	18,567	SH		SOLE		18,567	0	0
PERKIN ELMER INC	COM	714046109	44	1,361	SH		SOLE		1,361	0	0
PERRIGO CO	COM	714290103	129	1,070	SH		SOLE		1,070	0	0
PETSMART INC.	COM	716768106	87	1,295	SH		SOLE		1,295	0	0
PFIZER, INC.	COM	717081103	2,423	86,517	SH		SOLE		86,517	0	0
PHILIP MORRIS INTERNATIONAL	COM	718172109	1,718	19,831	SH		SOLE		19,831	0	0
PHILLIPS 66	COM	718546104	441	7,487	SH		SOLE		7,487	0	0
PINNACLE WEST CAPITAL CORP.	COM	723484101	73	1,317	SH		SOLE		1,317	0	0
PIONEER NATURAL RESOURCE CO	COM	723787107	231	1,593	SH		SOLE		1,593	0	0
PITNEY BOWES INC	COM	724479100	36	2,422	SH		SOLE		2,422	0	0
PLUM CREEK TIMBER CO INC	COM	729251108	91	1,953	SH		SOLE		1,953	0	0
POWERSHARES DB MULTI SECT COMM	DB ENERGY FUND	73936B101	13,057	480,040	SH		SOLE		480,040	0	0
POWERSHARES DB AGRICULTURE F	PS DB AGRICUL FD	73936B408	66,622	2,674,513	SH		SOLE		2,674,513	0	0
POWERSHARES DB OIL FUND	DB OIL FUND	73936B507	31,828	1,227,930	SH		SOLE		1,227,930	0	0
POWERSHARES DB BASE METALS F	DB BASE METALS	73936B705	14,888	921,313	SH		SOLE		921,313	0	0
PRAXAIR INC	COM	74005P104	411	3,568	SH		SOLE		3,568	0	0
PRECISION CASTPARTS CORP	COM	740189105	398	1,762	SH		SOLE		1,762	0	0
T ROWE PRICE GROUP INC.	COM	74144T108	228	3,116	SH		SOLE		3,116	0	0
PRICELINE.COM INC	COM	741503403	515	623	SH		SOLE		623	0	0
PRICELINE.COM INC	DEBT 1.000% 3/1	741503AQ9	21,158	18,200,000	PRN		SOLE		18,200,000	0	0
PRINCIPAL FINANCIAL GROUP INC.	COM	74251V102	124	3,320	SH		SOLE		3,320	0	0
PROCTER & GAMBLE CO.	COM	742718109	2,531	32,874	SH		SOLE		32,874	0	0
PROGRESSIVE CORP OH	COM	743315103	170	6,695	SH		SOLE		6,695	0	0
PROLOGIS INC	COM	74340W103	224	5,942	SH		SOLE		5,942	0	0
PRUDENTIAL FINANCIAL INC.	COM	744320102	409	5,595	SH		SOLE		5,595	0	0
PUBLIC SVC ENTERPRISES	COM	744573106	199	6,088	SH		SOLE		6,088	0	0
PUBLIC STORAGE INC	COM	74460D109	266	1,736	SH		SOLE		1,736	0	0
PULTE HOMES INC.	COM	745867101	78	4,094	SH		SOLE		4,094	0	0
QEP RESOURCES INC	COM	74733V100	60	2,149	SH		SOLE		2,149	0	0
QUALCOMM INC	COM	747525103	1,263	20,677	SH		SOLE		20,677	0	0
QUANTA SERVICES INC	COM	74762E102	68	2,558	SH		SOLE		2,558	0	0
QUEST DIAGNOSTICS	COM	74834L100	115	1,896	SH		SOLE		1,896	0	0
RALPH LAUREN CORP.	COM	751212101	128	735	SH		SOLE		735	0	0
RANGE RESOURCES CORP.	COM	75281A109	151	1,953	SH		SOLE		1,953	0	0
RAYONIER INC	NOTE 4.500% 8/1	75508AAC0	2,854	1,700,000	PRN		SOLE		1,700,000	0	0
RAYTHEON COMPANY	COM	755111507	259	3,924	SH		SOLE		3,924	0	0
RED HAT INC.	COM	756577102	111	2,325	SH		SOLE		2,325	0	0
REGENERON PHARMACEUTICALS INC	COM	75886F107	206	918	SH		SOLE		918	0	0
REGIONS FINANCIAL CORP	COM	7591EP100	162	17,009	SH		SOLE		17,009	0	0
REPUBLIC SERVICES INC	COM	760759100	121	3,579	SH		SOLE		3,579	0	0
REYNOLDS AMERICAN INC	COM	761713106	188	3,882	SH		SOLE		3,882	0	0
ROBERT HALF INTERNATIONAL INC.	COM	770323103	56	1,684	SH		SOLE		1,684	0	0
ROCKWELL AUTOMATION INC	COM	773903109	140	1,685	SH		SOLE		1,685	0	0
ROCKWELL INTL CORP	COM	774341101	104	1,644	SH		SOLE		1,644	0	0
ROPER INDUSTRIES INC	COM	776696106	147	1,182	SH		SOLE		1,182	0	0
ROPER INDS INC NEW	FRNT 1/1	776696AA4	15,899	10,200,000	PRN		SOLE		10,200,000	0	0
ROSS STORES INC	COM	778296103	173	2,676	SH		SOLE		2,676	0	0
RYDER SYS INC	COM	783549108	37	613	SH		SOLE		613	0	0
SAIC INC	COM	78390X101	48	3,415	SH		SOLE		3,415	0	0
SLM CORPORATION	COM	78442P106	125	5,456	SH		SOLE		5,456	0	0
SPDR TRUST SERIES 1	TR UNIT	78462F103	44,827	280,150	SH		SOLE		280,150	0	0
SPDR GOLD TRUST	GOLD SHS	78463V107	29,308	246,075	SH		SOLE		246,075	0	0
SAFEWAY INC	COM	786514208	68	2,883	SH		SOLE		2,883	0	0
ST. JUDE MEDICAL INC.	COM	790849103	155	3,405	SH		SOLE		3,405	0	0
SALESFORCE.COM INC	COM	79466L302	248	6,485	SH		SOLE		6,485	0	0
SALIX PHARMACEUTICALS, LTD	NOTE 1.500% 3/1	795435AE6	10,261	8,600,000	PRN		SOLE		8,600,000	0	0
SANDISK CORP	COM	80004C101	177	2,905	SH		SOLE		2,905	0	0
SANDISK CORP	NOTE 1.500% 8/1	80004CAD3	12,398	9,300,000	PRN		SOLE		9,300,000	0	0
SCANA CORP.	COM	80589M102	82	1,673	SH		SOLE		1,673	0	0
SCHLUMBERGER LTD	COM	806857108	1,145	15,984	SH		SOLE		15,984	0	0
SCHWAB CHARLES CORP	COM	808513105	281	13,226	SH		SOLE		13,226	0	0
SCRIPP NETWORK	COM	811065101	69	1,034	SH		SOLE		1,034	0	0
SEALED AIR CORP	COM	81211K100	56	2,342	SH		SOLE		2,342	0	0
SEMPRA ENERGY	COM	816851109	222	2,717	SH		SOLE		2,717	0	0
SHERWIN-WILLIAMS CO	COM	824348106	182	1,032	SH		SOLE		1,032	0	0
SIGMA-ALDRICH	COM	826552101	116	1,445	SH		SOLE		1,445	0	0
SIMON PROPERTY GROUP INC.	COM	828806109	596	3,775	SH		SOLE		3,775	0	0
JM SMUCKER CO/THE-NEWW COM WI	COM	832696405	133	1,291	SH		SOLE		1,291	0	0
SNAP-ON INC.	COM	833034101	62	693	SH		SOLE		693	0	0
SOUTHERN CO	COM	842587107	461	10,455	SH		SOLE		10,455	0	0
SOUTHWEST AIRLINES	COM	844741108	113	8,763	SH		SOLE		8,763	0	0
SOUTHWESTERN ENERGY CO	COM	845467109	154	4,224	SH		SOLE		4,224	0	0
SPECTRA ENERGY CORP	COM	847560109	277	8,040	SH		SOLE		8,040	0	0
SPRINT NEXTEL CORP	COM	852061100	254	36,233	SH		SOLE		36,233	0	0
STANLEY BLACK + DECKER INC	COM	854502101	149	1,929	SH		SOLE		1,929	0	0
STANLEY BLACK + DECKER INC	UNIT 99/99/9999	854502309	16,941	131,000	PRN		SOLE		131,000	0	0
STAPLES INC	COM	855030102	129	8,110	SH		SOLE		8,110	0	0
STARBUCKS CORP.	COM	855244109	591	9,018	SH		SOLE		9,018	0	0
STARWOOD HOTELS & RESORTS WORLDWIDE	COM	85590A401	147	2,334	SH		SOLE		2,334	0	0
STATE STREET CORP	COM	857477103	359	5,499	SH		SOLE		5,499	0	0
STEEL DYNAMICS INC	NOTE 5.125% 6/1	858119AP5	9,815	9,200,000	PRN		SOLE		9,200,000	0	0
STERICYCLE INC.	COM	858912108	113	1,026	SH		SOLE		1,026	0	0
STILLWATER MINING COMPANY	NOTE 1.750% 10/1	86074QAL6	7,475	7,200,000	PRN		SOLE		7,200,000	0	0
STRYKER CORP.	COM	863667101	225	3,485	SH		SOLE		3,485	0	0
SUNTRUST BANK	COM	867914103	204	6,476	SH		SOLE		6,476	0	0
SYMANTEC CORP	COM	871503108	186	8,295	SH		SOLE		8,295	0	0
SYSCO CORP	COM	871829107	241	7,052	SH		SOLE		7,052	0	0
TECO ENERGY INC	COM	872375100	42	2,459	SH		SOLE		2,459	0	0
TJX COMPANIES, INC.	COM	872540109	439	8,777	SH		SOLE		8,777	0	0
TAKE-TWO INTERACTIVE SOFTWAR	NOTE 1.000% 7/0 ADDED	874054AD1	7,780	8,000,000	PRN		SOLE		8,000,000	0	0
TARGET CORP.	COM	87612E106	540	7,836	SH		SOLE		7,836	0	0
TENET HEALTHCARE CORP.	COM	88033G407	57	1,246	SH		SOLE		1,246	0	0
TERADATA CORP	COM	88076W103	100	1,997	SH		SOLE		1,997	0	0
TERADYNE INC	COM	880770102	40	2,289	SH		SOLE		2,289	0	0
TESORO PETROLEUM CORP	COM	881609101	87	1,655	SH		SOLE		1,655	0	0
TESLA MOTORS INC	NOTE 1.500% 6/0 ADDED	88160RAA9	6,754	6,000,000	PRN		SOLE		6,000,000	0	0
TEXAS INSTRUMENTS INC	COM	882508104	464	13,296	SH		SOLE		13,296	0	0
TEXTRON	COM	883203101	85	3,268	SH		SOLE		3,268	0	0
THERMO FISHER SCIENTIFIC INC	COM	883556102	364	4,304	SH		SOLE		4,304	0	0
3M CO	COM	88579Y101	835	7,637	SH		SOLE		7,637	0	0
TIBCO SOFTWARE INC	NOTE 2.250% 5/0 ADDED	88632QAB9	7,969	8,200,000	PRN		SOLE		8,200,000	0	0
TIFFANY & CO.	COM	886547108	104	1,431	SH		SOLE		1,431	0	0
TIME WARNER INC.	COM	887317303	650	11,250	SH	��	SOLE		11,250	0	0
TIME WARNER INC.	COM	88732J207	400	3,556	SH		SOLE		3,556	0	0
TORCHMARK CORP	COM	891027104	73	1,127	SH		SOLE		1,127	0	0
TOTAL SYSTEM SERVICES	COM	891906109	47	1,928	SH		SOLE		1,928	0	0
THE TRAVELERS COMPANIES INC	COM	89417E109	364	4,549	SH		SOLE		4,549	0	0
TRINITY INDUSTRIES	NOTE 3.875% 6/0	896522AF6	14,422	12,300,000	PRN		SOLE		12,300,000	0	0
TRIUMPH GROUP	NOTE 2.625% 10/0	896818AB7	14,718	5,060,000	PRN		SOLE		5,060,000	0	0
TRIPADVISOR INC	COM	896945201	80	1,321	SH		SOLE		1,321	0	0
TYSON FOODS, INC.	COM	902494103	88	3,417	SH		SOLE		3,417	0	0
U.S. BANCORP	COM	902973304	811	22,425	SH		SOLE		22,425	0	0
UNION PACIFIC CORP	COM	907818108	871	5,647	SH		SOLE		5,647	0	0
UNITED PARCEL SERVICE	CL B	911312106	744	8,607	SH		SOLE		8,607	0	0
UNITED STATES BRENT OIL FUND	UNIT	91167Q100	1,657	21,335	SH		SOLE		21,335	0	0
UNITED STATES GAS FUND LP	UNITS	91201T102	1,800	33,167	SH		SOLE		33,167	0	0
US NATURAL GAS FUND LP	UNIT PAR $0.001	912318201	13,580	716,259	SH		SOLE		716,259	0	0
UNITED STATES 12 MONTH OIL	COM	91288V103	5,900	147,528	SH		SOLE		147,528	0	0
UNITED STATES STEEL CORP	COM	912909108	30	1,728	SH		SOLE		1,728	0	0
US STEEL CORP	NOTE 4.000% 5/1	912909AE8	7,720	7,550,000	PRN		SOLE		7,550,000	0	0
UNITED TECHNOLOGIES CORP	COM	913017109	943	10,149	SH		SOLE		10,149	0	0
UNITED TECH CORP	UNIT 99/99/9999	913017117	16,621	280,000	PRN		SOLE		280,000	0	0
UNITEDHEALTH GROUP INC.	COM	91324P102	808	12,344	SH		SOLE		12,344	0	0
UNUMPROVIDENT CORP	COM	91529Y106	95	3,247	SH		SOLE		3,247	0	0
URBAN OUTFITTERS INC	COM	917047102	53	1,318	SH		SOLE		1,318	0	0
VF CORP	COM	918204108	205	1,060	SH		SOLE		1,060	0	0
VALERO ENERGY CORP	COM	91913Y100	231	6,654	SH		SOLE		6,654	0	0
VARIAN MEDICAL SYSTEMS INC.	COM	92220P105	89	1,314	SH		SOLE		1,314	0	0
VECTOR GROUP LTD	DBCV 6/1	92240MAL2	6,656	6,120,000	PRN		SOLE		6,120,000	0	0
VENTAS INC	COM	92276F100	245	3,522	SH		SOLE		3,522	0	0
VERISIGN INC.	COM	92343E102	82	1,840	SH		SOLE		1,840	0	0
VERIZON COMMUNICATIONS INC	COM	92343V104	1,732	34,398	SH		SOLE		34,398	0	0
VIACOM INC	CL B	92553P201	373	5,481	SH		SOLE		5,481	0	0
VISA INC	COM CL A	92826C839	1,134	6,206	SH		SOLE		6,206	0	0
VORNADO REALTY TRUST	COM	929042109	169	2,042	SH		SOLE		2,042	0	0
VULCAN MATERIALS CO	COM	929160109	75	1,556	SH		SOLE		1,556	0	0
WABASH NATIONAL CORP	NOTE 3.375% 5/0	929566AH0	9,384	7,700,000	PRN		SOLE		7,700,000	0	0
WAL-MART STORES INC	COM	931142103	1,499	20,130	SH		SOLE		20,130	0	0
WALGREEN CO	COM	931422109	457	10,350	SH		SOLE		10,350	0	0
WASHINGTON POST CO	COM	939640108	27	56	SH		SOLE		56	0	0
WASTE MANAGEMENT INC	COM	94106L109	213	5,271	SH		SOLE		5,271	0	0
WATERS CORPORATION	COM	941848103	104	1,040	SH		SOLE		1,040	0	0
WELLPOINT INC	COM	94973V107	299	3,659	SH		SOLE		3,659	0	0
WELLS FARGO COMPANY	COM	949746101	2,435	58,991	SH		SOLE		58,991	0	0
WESCO DISTRIBUTION	DBCV 6.000% 9/1	95082PAH8	13,513	5,496,000	PRN		SOLE		5,496,000	0	0
WESTERN DIGITAL CORPORATION	COM	958102105	162	2,607	SH		SOLE		2,607	0	0
WESTERN UNION	COM	959802109	117	6,845	SH		SOLE		6,845	0	0
WEYERHAEUSER	COM	962166104	187	6,563	SH		SOLE		6,563	0	0
WHIRLPOOL CORP.	COM	963320106	107	938	SH		SOLE		938	0	0
WHOLE FOODS MARKET, INC.	COM	966837106	213	4,142	SH		SOLE		4,142	0	0
WILLIAMS COMPANIES INC.	COM	969457100	266	8,201	SH		SOLE		8,201	0	0
WINDSTREAM CORP	COM	97381W104	55	7,106	SH		SOLE		7,106	0	0
WISCONSIN ENERGY CORP	COM	976657106	113	2,755	SH		SOLE		2,755	0	0
WPX ENERGY INC	COM	98212B103	46	2,408	SH		SOLE		2,408	0	0
WYNDHAM WORLDWIDE CORP	COM	98310W108	94	1,645	SH		SOLE		1,645	0	0
WYNN RESORTS LTD	COM	983134107	122	952	SH		SOLE		952	0	0
XCEL ENERGY INC	COM	98389B100	166	5,866	SH		SOLE		5,866	0	0
XILINX INC	COM	983919101	124	3,142	SH		SOLE		3,142	0	0
XILINX INC	SDCV 3.125% 3/1	983919AD3	17,388	12,600,000	PRN		SOLE		12,600,000	0	0
XEROX CORP.	COM	984121103	134	14,728	SH		SOLE		14,728	0	0
XYLEM INC	COM	98419M100	60	2,240	SH		SOLE		2,240	0	0
YAHOO INC	COM	984332106	293	11,663	SH		SOLE		11,663	0	0
YUM BRANDS INC	COM	988498101	377	5,430	SH		SOLE		5,430	0	0
ZIMMER HOLDINGS INC	COM	98956P102	153	2,038	SH		SOLE		2,038	0	0
ZIONS BANCORPORATION	COM	989701107	64	2,209	SH		SOLE		2,209	0	0
AON PLC	COM	G0408V102	241	3,750	SH		SOLE		3,750	0	0
ACCENTURE PLC	COM	G1151C101	558	7,754	SH		SOLE		7,754	0	0
COVIDIEN PLC	COM	G2554F113	357	5,682	SH		SOLE		5,682	0	0
DELPHI AUTOMOTIVE PLC	COM	G27823106	179	3,529	SH		SOLE		3,529	0	0
EATON CORP PLC NPV	COM	G29183103	373	5,669	SH		SOLE		5,669	0	0
ENSCO PLC	SHS CLASS A	G3157S106	163	2,797	SH		SOLE		2,797	0	0
INGERSOLL-RAND PLC	COM	G47791101	184	3,317	SH		SOLE		3,317	0	0
INVESCO LTD	COM	G491BT108	169	5,305	SH		SOLE		5,305	0	0
NABORS INDUSTRIES LTD	COM	G6359F103	54	3,502	SH		SOLE		3,502	0	0
ROWAN COMPANIES PLC	COM	G7665A101	51	1,492	SH		SOLE		1,492	0	0
SEAGATE TECHNOLOGY	COM	G7945M107	172	3,844	SH		SOLE		3,844	0	0
XL GROUP PLC	COM	G98290102	108	3,550	SH		SOLE		3,550	0	0
ACE LTD	COM	H0023R105	365	4,077	SH		SOLE		4,077	0	0
GARMIN LTD	COM	H2906T109	48	1,318	SH		SOLE		1,318	0	0
NOBLE CORPORATION	COM	H5833N103	114	3,043	SH		SOLE		3,043	0	0
PENTAIR LTD	COM	H6169Q108	144	2,490	SH		SOLE		2,490	0	0
TE CONNECTIVITY LTD	COM	H84989104	231	5,068	SH		SOLE		5,068	0	0
TYCO INTERNATIONAL LTD	COM	H89128104	185	5,607	SH		SOLE		5,607	0	0
LYONDELLBASELL IND	SHS - A -	N53745100	303	4,569	SH		SOLE		4,569	0	0