UNITED STATES SECURITIES AND EXCHANGE COMMISSION
 WASHINGTON, DC 20549
 FORM 11-K
 FOR ANNUAL REPORTS OF EMPLOYEE STOCK PURCHASE, SAVINGS
AND SIMILAR PLANS PURSUANT TO SECTION 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
  þ
    
    ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
 For the fiscal year ended December 31, 2010
 OR
 o
    
    TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
 For the transition period from  to
 Commission File No.: 333-74483
  Willis 401(k) Retirement Savings Plan
  Willis North America Inc.




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WILLIS 401(k) RETIREMENT SAVINGS PLAN
 TABLE OF CONTENTS
 PageREPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
    
    
    1FINANCIAL STATEMENTS:Statements of Net Assets Available for Benefits as of December 31, 2010 and 2009
    
    
    2Statement of Changes in Net Assets Available for Benefits for the
Year Ended December 31, 2010
    
    
    3Notes to Financial Statements as of December 31, 2010 and 2009, and for the
Year Ended December 31, 2010
    
    
    411SUPPLEMENTAL SCHEDULE AS OF DECEMBER 31, 2010:
    
    
    12Form 5500, Schedule H, Part IV, Line 4i  Schedule of Assets (Held at End of Year)
    
    
    1331
 NOTE:
    
    All other schedules required by Section 2520.103-10 of the
Department of Labors Rules and Regulations for Reporting and Disclosure
under the Employee Retirement Income Security Act of 1974have been
omitted because they are not applicable.




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Deloitte & Touche LIPSuite 2400424 Church StreetNashville, TN 37219USATel: +1 615 259 1800www.deloitte.com
 REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
 
     
  Member ofDeloitte Touche Tohmatsu Limited




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WILLIS 401(k) RETIREMENT SAVINGS PLAN
 STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS
AS OF DECEMBER 31, 2010 AND 2009
 2010
    
    
    2009ASSETS:Participant-directed investments  at fair value
    
    $
    587,249,765
    
    
    $
    521,231,595Total investments
    
    
    587,249,765
    
    
    
    521,231,595Receivables:Notes receivable from participants
    
    
    8,685,427
    
    
    
    8,999,947Contributions receivable from participants
    
    
    977,960
    
    
    
    5,359,981Total receivables
    
    
    9,663,387
    
    
    
    14,359,928NET ASSETS AVAILABLE FOR BENEFITS AT FAIR VALUE
    
    
    596,913,152
    
    
    
    535,591,523ADJUSTMENT FROM FAIR VALUE TO CONTRACT
VALUE FOR FULLY BENEFIT-RESPONSIVE
STABLE VALUE FUNDS
    
    
    (11,250,894
    )
    
    
    (7,263,004
    )NET ASSETS AVAILABLE FOR BENEFITS
    
    $
    585,662,258
    
    
    $
    528,328,519
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WILLIS 401(k) RETIREMENT SAVINGS PLAN
 STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS
FOR THE YEAR ENDED DECEMBER 31, 2010
 ADDITIONS:Contributions:Participant contributions  pre-tax
    
    $
    41,251,286Participant contributions  post-tax
    
    
    1,407,135Total contributions
    
    
    42,658,421Investment income:Net appreciation in fair value of investments
    
    
    45,979,933Dividends
    
    
    10,027,446Interest
    
    
    5,125,270Net investment income
    
    
    61,132,649Interest income on notes receivable from participants
    
    
    478,090DEDUCTIONS:Benefits paid to participants
    
    
    (46,733,505
    )Administrative expenses
    
    
    (201,916
    )Total deductions
    
    
    (46,935,421
    )INCREASE IN NET ASSETS
    
    
    57,333,739NET ASSETS AVAILABLE FOR BENEFITS:Beginning of year
    
    
    528,328,519End of year
    
    $
    585,662,258
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WILLIS 401(k) RETIREMENT SAVINGS PLAN
 NOTES TO FINANCIAL STATEMENTS
AS OF DECEMBER 31, 2010 AND 2009, AND FOR THE YEAR ENDED DECEMBER 31, 2010
 1.
    
    DESCRIPTION OF THE PLANThe following description of the Willis 401(k) Retirement Savings Plan (the Plan) provides
only general information. Participants should refer to the Plan agreement for a complete
description of the Plans provisions.General The Plan is a defined contribution plan sponsored by Willis North America Inc. (the
Company or Employer), a subsidiary of Willis Group Holdings PLC, and covers all eligible
employees of the Company and its subsidiaries. The Benefits Committee of the Board of Directors
of the Company controls and manages the operation and administration of the Plan. State Street
Bank and Trust serves as the trustee of the Plan and Diversified Investment Advisors serves as
the record keeper. The Plan is subject to the provisions of the Employee Retirement Income
Security Act of 1974 (ERISA).Contributions Full-time and part-time employees of the Company are eligible to participate
in the Plan. Newly hired employees are automatically enrolled in the Plan after 60 days of
service with a 3% pre-tax contribution rate of eligible compensation. Participants may elect to
contribute between 1% and 99% of their eligible compensation as pretax and/or Roth 401(k)
contributions, subject to Internal Revenue Service (IRS) limits. Eligible compensation consists
of the participants base pay plus commissions and production incentives received during the
calendar year.The company match was suspended in October 2009 for all Participants, and the suspension remained in effect throughout 2010.Participant Accounts Individual accounts are maintained for each Plan participant. Each
participants account is credited with the participants contribution, the Companys matching
contribution, and Plan earnings, and charged with withdrawals and an allocation of Plan losses,
and administrative expenses. Allocations are based on participant earnings or account balances,
as defined. The benefit to which a participant is entitled is the benefit that can be provided
from the participants vested account.
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Investments Participants direct the investment of their contributions and Employer matching
contributions into various investment options offered by the Plan. The Plan currently offers a
variety of mutual funds, Willis Group Holdings PLC common stock, and stable value funds as
investment options for participants.The Willis Stable Value Fund and Transamerica Financial Life Insurance Company (TFLIC) Stable 5
Fund are fully benefit-responsive and are invested in separate group annuity insurance
contracts with TFLIC. In addition, participants have the option of transferring amounts from
the above Plan offered funds into a self-directed brokerage account.Vesting A participants contributions and earnings thereon are immediately vested. Employer
contributions and earnings thereon are 25% vested after two years of service, 50% after three
years, 75% after four years, and fully vested after five years of service with the Company, or
a predecessor company, or as soon as the employee reaches the age of 65, dies, or becomes
disabled, whichever occurs first.Participant Loans Participants may borrow from their fund accounts up to a maximum of
$50,000 or 50% of their account balance, whichever is less. The loans are secured by the
balance in the participants account and bear interest at rates commensurate with local
prevailing rates at the time funds are borrowed, as determined quarterly by the Plan
administrator. Principal and interest is paid ratably through payroll deductions. Participant
loans are classified as notes receivable and measured at the unpaid principal balance plus
accrued but unpaid interest.Payment of Benefits Participants are eligible for distributions upon retirement, disability,
termination of service, or death. Special provisions allow for earlier distributions of
participants contributions and earnings thereon, and vested Employer contributions and
earnings thereon, as hardship withdrawals, subject to certain IRS regulations. Upon receiving a
hardship withdrawal, a participants contributions to the Plan will automatically be suspended
for a period of six months. Distributions of accounts can be in lump-sum amounts or
installments.Forfeited Accounts At December 31, 2010 and 2009, forfeited nonvested accounts totaled
$198,439 and $573,808, respectively. During the year ended December 31, 2009, forfeiture
amounts were used to offset employer contributions. During the year ended December 31, 2010,
forfeiture amounts were used to reduce participant expenditures.Plan Termination Although the Company has not expressed any intent to terminate the Plan, it
may cease making contributions or terminate the Plan, at any time, subject to the provisions of
ERISA. Upon full or partial termination of the Plan, the balance in each participants or
retired participants accounts becomes nonforfeitable and each participant, retired
participant, or beneficiary is entitled to receive any amounts then credited to his/her
accounts in the trust, provided that the Company may elect to continue the trust and make
payments therefrom, pursuant to the terms of the Plan.
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2.
    
    SUMMARY OF SIGNIFICANT ACCOUNTING POLICIESBasis of Accounting The accompanying financial statements have been prepared in
accordance with accounting principles generally accepted in the United States of America
(GAAP).Investment Valuation and Income Recognition The Plans investments are stated at fair value.
Fair value of a financial instrument is the price that would be received to sell an asset or
paid to transfer a liability in an orderly transaction between market participants at the
measurement date. Common Stock is valued at the closing price reported on the exchange on
which traded on the last business day of the Plan year. Money market funds are stated at
amortized cost, which approximates fair value. Shares of mutual funds are valued at the net
asset value of shares held by the Plan at year-end. The stable value fund is stated at fair
value and then adjusted to contract value as described below. Fair value of the stable fund is
the net asset value of its underlying investments, and contract value is principal plus accrued
interest.In accordance with GAAP, the stable value fund is included at fair value in
participant-directed investments in the statements of net assets available for benefits, and an
additional line item is presented representing the adjustment from fair value to contract
value. The statement of changes in net assets available for benefits is presented on a contract
value basis.Purchases and sales of securities are recorded on a trade-date basis. Interest income is
recorded on the accrual basis. Dividends are recorded on the ex-dividend date.Management fees and operating expenses charged to the Plan for investments in the mutual funds
and guaranteed investment contracts are deducted from income earned on a daily basis and are
not separately reflected. Consequently, management fees and operating expenses are reflected as
a reduction of investment return for such investments.Use of Estimates The preparation of financial statements in conformity with GAAP requires
management to make estimates and assumptions that affect the reported amounts of assets and
changes therein and disclosure of contingent assets and liabilities. Actual results could
differ from those estimates.Risks and Uncertainties The Plan utilizes various investment instruments, including common
stock, mutual funds, and a stable value fund. Investment securities, in general, are exposed to
various risks, such as interest rate risk, credit risk, and overall market volatility. Due to
the level of risk associated with certain investment securities, it is reasonably possible that
changes in the values of investment securities will occur in the near term and that such change
could materially affect the amounts reported in the financial statements.Notes Receivable from Participants Notes receivable from participants are measured at their
unpaid principal balance plus any accrued but unpaid interest. Delinquent participant loans are
recorded as distributions based on the terms of the Plan document.
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Administrative Expenses Administrative expenses of the Plan are paid by the Plan as provided
in the Plan document.Payment of Benefits Benefit payments to participants are recorded upon distribution. All
distribution payments are processed the same day, therefore, at December 31, 2010 and 2009
there were no amounts allocated to accounts of persons who have elected to withdraw from the
Plan, but have not yet been paid.Excess Contributions Payable The Plan is required to return contributions received during
the Plan year in excess of the IRC limits.New Accounting Standards ASU No. 2010-06, Fair Value Measurements and Disclosures In
January 2010, the Financial Accounting Standards Board (FASB) issued Accounting Standards
Update (ASU) No. 2010-06, Fair Value Measurements and Disclosures, which amends ASC 820, Fair
Value Measurements and Disclosures, adding new disclosure requirements for Levels 1 and 2,
separate disclosures of purchases, sales, issuances, and settlements relating to Level 3
measurements and clarification of existing fair value disclosures. ASU No. 2010-06 is effective
for periods beginning after December 15, 2009, except for the requirement to provide Level 3
activity of purchases, sales, issuances, and settlements on a gross basis, which will be
effective for fiscal years beginning after December 15, 2010. The Plan prospectively adopted
the new guidance in 2010, except for the Level 3 reconciliation disclosures, which are required
in 2011. The adoption in 2010 did not materially affect, and the future adoption is not
expected to materially affect, the Plans financial statements.ASU No. 2010-25, Reporting Loans to Participants by Defined Contribution Pension Plans In
September 2010, the FASB issued ASU No. 2010-25, Reporting Loans to Participants by Defined
Contribution Pension Plans. The ASU requires that participant loans be classified as notes
receivable rather than a plan investment and measured at unpaid principal balance plus accrued
but unpaid interest rather than fair value. The Plan retrospectively adopted the new accounting
in 2010. The adoption did not have a material effect on the Plans financial statements.3.
    
    INVESTMENTSIndividual investments that represent greater than 5% of the Plans net assets available for
benefits are as follows:
 As of December 31, 2010:Willis Stable Value Fund (at contract value)
    
    $
    89,115,130Pimco Total Return Fund
    
    
    60,962,053Transamerica Partners Institutional Stock Index Fund
    
    
    47,115,826American Funds Income Fund
    
    
    43,283,926American Funds Growth Fund
    
    
    42,965,605TFLIC Stable 5 Fund (at contract value)
    
    
    41,638,565American Funds Europac
    
    
    40,405,659American Funds Fundamental Investment Fund
    
    
    39,119,088
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As of December 31, 2009:Willis Stable Value Fund (at contract value)
    
    $
    79,904,612Pimco Total Return Fund
    
    
    52,885,502Transamerica Partners Institutional Stock Index Fund
    
    
    44,261,905TFLIC Stable 5 Fund (at contract value)
    
    
    47,790,737American Funds Income Fund
    
    
    39,074,112American Funds Growth Fund
    
    
    38,523,240American Funds Europac
    
    
    36,604,390American Funds Fundamental Investment Fund
    
    
    34,461,627
 During the year ended December 31, 2010, the Plans investments (including gains and
losses on investments bought and sold, as well as held during the year) appreciated in value by
$45,979,933 as follows:
 Mutual funds
    
    $
    39,265,292Common stock
    
    
    6,711,805Corporate bonds
    
    
    (5,332
    )U.S. government securities
    
    
    8,168Net appreciation in fair value of investments
    
    $
    45,979,933
 4.
    
    INVESTMENT CONTRACTS WITH INSURANCE COMPANYThe Plan has two fully benefit-responsive investment contracts with TFLIC. TFLIC maintains the
contributions in a non-pooled separate account (Willis Stable Value Fund) and a pooled separate
account (TFLIC Stable 5 Fund), which are credited with earnings on the underlying investments
and charged for participant withdrawals and administrative expenses. The contracts are included
in the financial statements at fair value and then adjusted to contract value. Contract value
represents contributions made under the contract, plus earnings, less participant withdrawals
and administrative expenses. Participants may ordinarily direct the withdrawal or transfer of
all or a portion of their investment at contract value.The contracts have certain restrictions that impact the ability to collect the full contract
value, for example, the Plan may not withdraw more than 20% of the beginning of the year
balance of the contract without incurring a penalty. Plan management believes that the
occurrence of events that would cause the Plan to transact at less than contract value is not
probable. TFLIC may not terminate the contracts at any amount less than contract value.
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TFLIC is contractually obligated to pay the principal and specified interest rate that is
guaranteed to the Plan. The crediting interest rate is based on a formula agreed upon with
TFLIC, but may not be less than 0%. Such interest rates are reviewed for resetting on a
quarterly basis for the Willis Stable Value Fund and on an annual basis for the TFLIC Stable 5
Fund. The crediting rate of the contract will track current market yields on a trailing basis.
 2010
    
    
    2009Wills Stable Value Fund average yields:Based on annualized earnings (1)
    
    
    7.62
    %
    
    
    5.95
    %Based on interest rate credited to participants (2)
    
    
    3.21
    
    
    
    3.51TFLIC Stable 5 Fund average yields:Based on annualized earnings (1)
    
    
    8.14
    %
    
    
    9.24
    %Based on interest rate credited to participants (2)
    
    
    4.23
    
    
    
    3.62
 
 (1)
    
    Computed by dividing the annualized actual earnings of the contract on the last day of the
Plan year by the fair value of the investments on the same date.(2)
    
    Computed by dividing the annualized earnings credited to participants on the last day of the
Plan year by the fair value of the investments on the same date. 5.
    
    FEDERAL INCOME TAX STATUSThe Plan has received a determination letter from the IRS dated May 14, 2008, stating that the
Plan is qualified under Section 401(a) of the Internal Revenue Code (the Code) and therefore,
the related trust is exempt from taxation. The Plan is required to operate in conformity with
the Code to maintain its qualification. The Plan Administrator believes the Plan is currently
designed and operated in compliance with the applicable requirements of the Code and,
therefore, believes that the Plan is qualified and the related trust is tax exempt.GAAP requires Plan management to evaluate tax positions taken by the Plan and recognize a tax
liability (or asset) if the Plan has taken an uncertain position that more likely than not
would not be sustained upon examination by the IRS. The Plan administrator has analyzed the tax
positions taken by the Plan, and has concluded that as of December 31, 2010, there are no
uncertain positions taken or expected to be taken that would require recognition of a liability
(or asset) or disclosure in the financial statements. The Plan is subject to routine audits by
taxing jurisdictions; and is currently under audit by the IRS for the 2009 tax year. The Plan
administrator believes it is no longer subject to income tax examinations for years prior to
December 31, 2007.6.
    
    TRANSACTIONS WITH PARTIES-IN-INTERESTTransactions with parties-in-interest include contributions from the Company, investments in
certain funds managed by the recordkeeper of the Plan, and the investment contracts managed by
TFLIC; therefore, these transactions qualify as exempt party-in-interest transactions.
Administrative expenses of the Plan not borne by participants are paid by the Company. Such
amounts paid by the Company in 2010 were not significant.
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7. FAIR VALUE MEASUREMENTS
 Fair Value Measurements and Disclosures
  Assets at Fair Value as of December 31, 2010Active Markets
    
    
    Other
    
    
    Significantfor Identical
    
    
    Observable
    
    
    UnobservableAssets (Level 1)
    
    
    Inputs (Level 2)
    
    
    Inputs (Level 3)
    
    
    TotalMutual fundsLarge Cap StocksDomestic
    
    $
    217,125,007
    
    
    $
    
    
    
    $
    
    
    
    $
    217,125,007International
    
    
    40,405,659
    
    
    
    
    
    
    
    
    
    
    
    40,405,659Mid/Small Cap Stocks
    
    
    74,786,279
    
    
    
    
    
    
    
    
    
    
    
    74,786,279BondsInvestment Grade
    
    
    60,962,053
    
    
    
    
    
    
    
    
    
    
    
    60,962,053High Yield
    
    
    11,455,377
    
    
    
    
    
    
    
    
    
    
    
    11,455,377Various Diversified Funds
    
    
    6,192,188
    
    
    
    
    
    
    
    
    
    
    
    6,192,188Common StocksWillis Group Holdings plc
    
    
    20,205,503
    
    
    
    
    
    
    
    
    
    
    
    20,205,503Other Common Stock
    
    
    9,266,882
    
    
    
    
    
    
    
    
    
    
    
    9,266,882Guaranteed investment
contracts
    
    
    
    
    
    
    142,004,589
    
    
    
    
    
    
    
    142,004,589Money market funds
    
    
    
    
    
    
    3,609,727
    
    
    
    
    
    
    
    3,609,727Other Financial Assets
    
    
    1,236,501
    
    
    
    
    
    
    
    
    
    
    
    1,236,501Total assets at fair value
    
    $
    441,635,449
    
    
    $
    145,614,316
    
    
    $
    
    
    
    $
    587,249,765
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Assets at Fair Value as of December 31, 2009Level 1
    
    
    Level 2
    
    
    Level 3
    
    
    TotalMutual funds
    
    $
    358,324,586
    
    
    $
    
    
    
    $
    
    
    
    $
    358,324,586Common stocks
    
    
    22,403,953
    
    
    
    
    
    
    
    
    
    
    
    22,403,953Corporate bonds
    
    
    1,035,890
    
    
    
    
    
    
    
    
    
    
    
    1,035,890U.S. government
securities
    
    
    316,545
    
    
    
    
    
    
    
    
    
    
    
    316,545Guaranteed investment
contracts
    
    
    
    
    
    
    135,532,162
    
    
    
    
    
    
    
    135,532,162Money market funds
    
    
    
    
    
    
    3,618,459
    
    
    
    
    
    
    
    3,618,459Total assets at fair value
    
    $
    382,080,974
    
    
    $
    139,150,621
    
    
    $
    
    
    
    $
    521,231,595
  8. SUBSEQUENT EVENTS
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SUPPLEMENTAL SCHEDULE
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WILLIS NORTH AMERICA, INC.  401(K) RETIREMENT SAVINGS PLAN
Employer Identification Number  13-5654526
 FORM 5500, SCHEDULE H, PART 1V, LINE 4i  SCHEDULE OF ASSETS (HELD AT END OF YEAR)  DECEMBER 31, 2010
 Description ofinvestment includingmaturity date, rateof interest,collateral, par, orIdentity of issue, borrower, lessor, or similar party
    
    
    
    
    
    maturity value
    
    Current ValueMutual FundsLarge Cap StocksDomesticAmerican Funds Growth Fund
    
    
    
    
    
    Mutual Fund
    
    $
    42,965,605American Funds Income Fund
    
    
    
    
    
    Mutual Fund
    
    
    43,283,926American Funds Fundamental Investment Funds
    
    
    
    
    
    Mutual Fund
    
    
    39,119,088Davis NY Venture Fund
    
    
    
    
    
    Mutual Fund
    
    
    26,246,665MFS Value Fund
    
    
    
    
    
    Mutual Fund
    
    
    18,393,897Transamerica Partners Stock Index Fund
    
    
    
    
    
    Mutual Fund
    
    
    47,115,826Total
    
    
    
    
    
    
    
    
    217,125,007InternationalAmerican Funds Europacific
    
    
    
    
    
    Mutual Fund
    
    
    40,405,659Total
    
    
    
    
    
    
    
    
    40,405,659Mid/Small Cap StocksBaron Asset Fund
    
    
    
    
    
    Mutual Fund
    
    
    18,930,996Wells Fargo Advantage Mid Cap Fund
    
    
    
    
    
    Mutual Fund
    
    
    9,180,538Royce Value Plus
    
    
    
    
    
    Mutual Fund
    
    
    24,256,746Columbia Small Cap Value Fund
    
    
    
    
    
    Mutual Fund
    
    
    22,417,999Total
    
    
    
    
    
    
    
    
    74,786,279BondsInvestment GradePIMCO Total Return Fund
    
    
    
    
    
    Mutual Fund
    
    
    60,962,053Total
    
    
    
    
    
    
    
    
    60,962,053High YieldTransamerica Partners High Yield Fund
    
    
    
    
    
    Mutual Fund
    
    
    11,455,377Total
    
    
    
    
    
    
    
    
    11,455,377Various Diversified Mutual FundsABERDEEN GLOBAL SMALL CAP A
    
    
    395
    
    
    Mutual Fund
    
    
    9,077AL FRANK FUND
    
    
    371
    
    
    Mutual Fund
    
    
    10,194ALPINE DYNAMIC DIVIDEND FUND
    
    
    2,227
    
    
    Mutual Fund
    
    
    10,713AMANA INCOME FUND
    
    
    221
    
    
    Mutual Fund
    
    
    7,033AMERICAN BEACON INTL EQTY I
    
    
    444
    
    
    Mutual Fund
    
    
    7,258AMERICAN CENTURY GOVT BOND F
    
    
    4,560
    
    
    Mutual Fund
    
    
    50,844AMERICAN CENTURY GOVT BOND F
    
    
    1,477
    
    
    Mutual Fund
    
    
    16,471AMERICAN CENTURY GROWTH INV CL
    
    
    305
    
    
    Mutual Fund
    
    
    7,870AMERICAN CENTURY INTL BOND F
    
    
    2,075
    
    
    Mutual Fund
    
    
    28,631AMERICAN FD FUNDAMENTAL INVEST
    
    
    81
    
    
    Mutual Fund
    
    
    2,960AMERICAN FD GROWTH FUND OF AME
    
    
    4,547
    
    
    Mutual Fund
    
    
    137,515AMERICAN FD INV CO OF AMERIC
    
    
    50
    
    
    Mutual Fund
    
    
    1,415AMERICAN FD NEW PERSPE
    
    
    69
    
    
    Mutual Fund
    
    
    1,980ARTIO GLOBAL EQTY FD INC CL
    
    
    300
    
    
    Mutual Fund
    
    
    11,748ARTIO GLOBAL HIGH INCOME FUND
    
    
    293
    
    
    Mutual Fund
    
    
    3,113ARTIO INTL EQUITY FUND II CL
    
    
    4,228
    
    
    Mutual Fund
    
    
    52,379ARTISAN INTL FUND
    
    
    1,019
    
    
    Mutual Fund
    
    
    22,118ARTISAN INTL VALUE FUND
    
    
    995
    
    
    Mutual Fund
    
    
    26,977AUXIER FOCUS FUND INV
    
    
    173
    
    
    Mutual Fund
    
    
    2,628BARON ASSET FUND
    
    
    134
    
    
    Mutual Fund
    
    
    7,427BARON PARTNERS FUND
    
    
    1,805
    
    
    Mutual Fund
    
    
    37,134BERWYN INCOME FUND
    
    
    2,375
    
    
    Mutual Fund
    
    
    31,494BLACK OAK EMERGING TECHNO
    
    
    3,300
    
    
    Mutual Fund
    
    
    10,099BLACKROCK GLOBAL ALLOCA
    
    
    442
    
    
    Mutual Fund
    
    
    8,591BLACKROCK INTL OPPTY A
    
    
    734
    
    
    Mutual Fund
    
    
    24,578BUFFALO SCIENCE AND TECH FUND
    
    
    129
    
    
    Mutual Fund
    
    
    1,968BUFFALO SCIENCE AND TECH FUND
    
    
    794
    
    
    Mutual Fund
    
    
    12,106BURNHAM FINANCIAL INDUST
    
    
    437
    
    
    Mutual Fund
    
    
    5,209BURNHAM FINANCIAL SERVIC
    
    
    729
    
    
    Mutual Fund
    
    
    12,552CALAMOS GROWTH FUND CL I
    
    
    1,029
    
    
    Mutual Fund
    
    
    59,804CGM FOCUS FUND
    
    
    222
    
    
    Mutual Fund
    
    
    7,741CGM FOCUS FUND
    
    
    179
    
    
    Mutual Fund
    
    
    6,229CGM REALTY FUND
    
    
    392
    
    
    Mutual Fund
    
    
    10,514COHEN & STEERS REALTY SHARES
    
    
    85
    
    
    Mutual Fund
    
    
    4,956COHEN & STEERS REALTY SHARES
    
    
    304
    
    
    Mutual Fund
    
    
    17,798COLUMBIA ENERGY & NAT RESOUR
    
    
    445
    
    
    Mutual Fund
    
    
    10,325COLUMBIA VALUE & RESTRUCTURING
    
    
    633
    
    
    Mutual Fund
    
    
    31,996CREDIT SUISSE COMMODITY RETURN
    
    
    460
    
    
    Mutual Fund
    
    
    4,298CROFT LEOMINSTER VALUE
    
    
    1,034
    
    
    Mutual Fund
    
    
    24,141
 13




---



##### 



WILLIS NORTH AMERICA, INC.  401(K) RETIREMENT SAVINGS PLAN
Employer Identification Number  13-5654526
 FORM 5500, SCHEDULE H, PART 1V, LINE 4i  SCHEDULE OF ASSETS (HELD AT END OF YEAR)  DECEMBER 31, 2010
 Description ofinvestment includingmaturity date, rateof interest,collateral, par, orIdentity of issue, borrower, lessor, or similar party
    
    
    
    
    
    maturity value
    
    Current ValueDFA FIVE YEAR GLOBAL FIXED
    
    
    3,175
    
    
    Mutual Fund
    
    
    34,543DFA GLOBAL REAL ESTATE SECURI
    
    
    3,275
    
    
    Mutual Fund
    
    
    25,939DFA INTL SMALL COMPANY PORTFO
    
    
    1,643
    
    
    Mutual Fund
    
    
    28,233DFA REAL ESTATE SECURI
    
    
    1,555
    
    
    Mutual Fund
    
    
    33,531DFA SLCTIVELY HEDGED GLOBAL
    
    
    1,917
    
    
    Mutual Fund
    
    
    19,825DFA U.S. CORE EQUITY 2 PORTFO
    
    
    967
    
    
    Mutual Fund
    
    
    10,607DFA U.S. LARGE CAP VALUE PORTF
    
    
    6,723
    
    
    Mutual Fund
    
    
    135,265DFA U.S. LARGE CAP VALUE PORTF
    
    
    3,490
    
    
    Mutual Fund
    
    
    70,221DFA U.S. LARGE CAP VALUE PORTF
    
    
    2,347
    
    
    Mutual Fund
    
    
    47,220DFA U.S. LARGE CO PORTFO
    
    
    2,165
    
    
    Mutual Fund
    
    
    21,432DFA U.S. SMALL CAP VALUE PORTF
    
    
    1,493
    
    
    Mutual Fund
    
    
    38,185DFA U.S. SMALL CAP VALUE PORTF
    
    
    1,371
    
    
    Mutual Fund
    
    
    35,050DFA US MICRO CAP PORT
    
    
    1,679
    
    
    Mutual Fund
    
    
    23,127DIREXION MONTHLY 10 YR NOTE B
    
    
    131
    
    
    Mutual Fund
    
    
    1,200DIREXION MONTHLY SMALL CAP BE
    
    
    84
    
    
    Mutual Fund
    
    
    937DODGE & COX BALANCED FD
    
    
    40
    
    
    Mutual Fund
    
    
    2,827DODGE & COX INTL STOCK FUND
    
    
    684
    
    
    Mutual Fund
    
    
    24,421DODGE & COX INTL STOCK FUND
    
    
    169
    
    
    Mutual Fund
    
    
    6,034DODGE & COX INTL STOCK FUND
    
    
    441
    
    
    Mutual Fund
    
    
    15,740DODGE & COX INTL STOCK FUND
    
    
    662
    
    
    Mutual Fund
    
    
    23,637DODGE & COX INTL STOCK FUND
    
    
    280
    
    
    Mutual Fund
    
    
    10,011DODGE & COX INTL STOCK FUND
    
    
    49
    
    
    Mutual Fund
    
    
    1,741DODGE & COX INTL STOCK FUND
    
    
    172
    
    
    Mutual Fund
    
    
    6,144DODGE & COX STOCK FUND
    
    
    210
    
    
    Mutual Fund
    
    
    22,601DODGE & COX STOCK FUND
    
    
    222
    
    
    Mutual Fund
    
    
    23,936DODGE & COX STOCK FUND
    
    
    154
    
    
    Mutual Fund
    
    
    16,568DODGE & COX STOCK FUND
    
    
    60
    
    
    Mutual Fund
    
    
    6,426FAIRHOLME FUND
    
    
    947
    
    
    Mutual Fund
    
    
    33,687FAIRHOLME FUND
    
    
    236
    
    
    Mutual Fund
    
    
    8,392FAIRHOLME FUND
    
    
    676
    
    
    Mutual Fund
    
    
    24,069FAIRHOLME FUND
    
    
    119
    
    
    Mutual Fund
    
    
    4,230FAIRHOLME FUND
    
    
    2,434
    
    
    Mutual Fund
    
    
    86,612FBR SMALL CAP FINANCIAL FUND I
    
    
    157
    
    
    Mutual Fund
    
    
    3,119FEDERATED PRUDENT BEAR A
    
    
    304
    
    
    Mutual Fund
    
    
    1,440FEDERATED PRUDENT BEAR A
    
    
    1,077
    
    
    Mutual Fund
    
    
    5,096FEDERATED TOTAL RETURN BOND C
    
    
    667
    
    
    Mutual Fund
    
    
    7,436FEDERATED TOTAL RETURN BOND C
    
    
    1,164
    
    
    Mutual Fund
    
    
    12,975FEDERATED U.S. GOVT SEC FD 2-5
    
    
    1,187
    
    
    Mutual Fund
    
    
    13,934FELLOWS ENERGY LTD
    
    
    3,500
    
    
    Mutual Fund
    
    
    4FIDELITY CANADA FUND
    
    
    880
    
    
    Mutual Fund
    
    
    51,198FIDELITY CAPITAL APPREC
    
    
    509
    
    
    Mutual Fund
    
    
    12,890FIDELITY CONTRA FUND
    
    
    165
    
    
    Mutual Fund
    
    
    11,179FIDELITY INTL DISCOVERY FUND
    
    
    416
    
    
    Mutual Fund
    
    
    13,746FIDELITY LATIN AMER FUND
    
    
    412
    
    
    Mutual Fund
    
    
    24,306FIDELITY LATIN AMER FUND
    
    
    600
    
    
    Mutual Fund
    
    
    35,447FIDELITY MAGELLAN FUND
    
    
    209
    
    
    Mutual Fund
    
    
    14,982FIDELITY SLCT BROKERAGE & INVE
    
    
    70
    
    
    Mutual Fund
    
    
    3,684FIDELITY SLCT CHEMICALS
    
    
    103
    
    
    Mutual Fund
    
    
    9,864FIDELITY SLCT COMM EQUIPM
    
    
    56
    
    
    Mutual Fund
    
    
    1,476FIDELITY SLCT HEALTH CARE F
    
    
    67
    
    
    Mutual Fund
    
    
    8,404FIDELITY SLCT MATERIALS
    
    
    107
    
    
    Mutual Fund
    
    
    7,268FIDELITY SLCT NAT RES
    
    
    960
    
    
    Mutual Fund
    
    
    33,423FIDELITY SLCT NATURL GAS
    
    
    709
    
    
    Mutual Fund
    
    
    23,569FIDELITY SLCT SOFTWARE & COMP
    
    
    40
    
    
    Mutual Fund
    
    
    3,523FIDELITY SLCT TELECOM FUND
    
    
    32
    
    
    Mutual Fund
    
    
    1,471FIDELITY SPARTAN 500 INDEX
    
    
    228
    
    
    Mutual Fund
    
    
    10,146FIFTH STREET FINANCE CP ** PEN
    
    
    9,083
    
    
    Mutual Fund
    
    
    110,271FIRST AMERICAN MID CAP SELECT
    
    
    24
    
    
    Mutual Fund
    
    
    247FIRST AMERICAN REAL ESTATE
    
    
    638
    
    
    Mutual Fund
    
    
    11,479FIRST AMERICAN SMALL CAP GROWT
    
    
    268
    
    
    Mutual Fund
    
    
    5,799FIRST AMERICAN SMALL CAP SELEC
    
    
    226
    
    
    Mutual Fund
    
    
    2,989FIRST EAGLE GLOBAL FUND CL A
    
    
    3,206
    
    
    Mutual Fund
    
    
    148,648FIRSTHAND TECHNOLOGY VALUE
    
    
    9
    
    
    Mutual Fund
    
    
    267FIRSTHAND TECHNOLOGY VALUE
    
    
    56
    
    
    Mutual Fund
    
    
    1,609FPA NEW INCOME CL A
    
    
    4,631
    
    
    Mutual Fund
    
    
    50,248GABELLI ASSET FUND AAA
    
    
    34
    
    
    Mutual Fund
    
    
    1,680GABELLI EQUITY INCOME FUND C
    
    
    782
    
    
    Mutual Fund
    
    
    16,002
 14




---



##### 



WILLIS NORTH AMERICA, INC.  401(K) RETIREMENT SAVINGS PLAN
Employer Identification Number  13-5654526
 FORM 5500, SCHEDULE H, PART 1V, LINE 4i  SCHEDULE OF ASSETS (HELD AT END OF YEAR)  DECEMBER 31, 2010
 Description ofinvestment includingmaturity date, rateof interest,collateral, par, orIdentity of issue, borrower, lessor, or similar party
    
    
    
    
    
    maturity value
    
    Current ValueGAMCO GOLD FUND CL AAA
    
    
    290
    
    
    Mutual Fund
    
    
    10,379GAMCO WESTWOOD BALANCED FUND C
    
    
    1,373
    
    
    Mutual Fund
    
    
    14,654HARBOR BOND FUND INST CL
    
    
    1,051
    
    
    Mutual Fund
    
    
    12,711HARBOR CAP APPRECIATION FUND I
    
    
    1,415
    
    
    Mutual Fund
    
    
    51,974HARBOR INTERNATIONAL FUND I
    
    
    91
    
    
    Mutual Fund
    
    
    5,450HARBOR INTERNATIONAL FUND I
    
    
    554
    
    
    Mutual Fund
    
    
    33,258HARDING LOEVNER EMERGING MARKE
    
    
    291
    
    
    Mutual Fund
    
    
    15,096HARTFORD CAPITAL APPR FUND C
    
    
    654
    
    
    Mutual Fund
    
    
    22,641HEARTLAND SELECT VALUE FUND I
    
    
    200
    
    
    Mutual Fund
    
    
    5,850HEARTLAND VALUE PLUS FD INV CL
    
    
    273
    
    
    Mutual Fund
    
    
    8,148HEARTLAND VALUE PLUS FD INV CL
    
    
    58
    
    
    Mutual Fund
    
    
    1,742HUSSMAN STRATEGIC TOTAL RETURN
    
    
    1,234
    
    
    Mutual Fund
    
    
    14,964ICON ENERGY FUND CL S
    
    
    514
    
    
    Mutual Fund
    
    
    10,293INTREPID ALL CAP FD
    
    
    293
    
    
    Mutual Fund
    
    
    2,988INTREPID SMALL CAP
    
    
    774
    
    
    Mutual Fund
    
    
    12,635INVESCO TECHNOLOGY FD INV
    
    
    12
    
    
    Mutual Fund
    
    
    376INVESCO TECHNOLOGY FD INV
    
    
    199
    
    
    Mutual Fund
    
    
    6,448IQ ALPHA HEDGE STRATEGY INST C
    
    
    2,103
    
    
    Mutual Fund
    
    
    21,960IVY ASSET STRATEGY FUND CL A
    
    
    450
    
    
    Mutual Fund
    
    
    10,982IVY ASSET STRATEGY FUND CL I
    
    
    1,006
    
    
    Mutual Fund
    
    
    24,749IVY GLOBAL NATURAL RESOUR
    
    
    939
    
    
    Mutual Fund
    
    
    20,296JANUS BALANCED FD CL T
    
    
    376
    
    
    Mutual Fund
    
    
    9,428JANUS CONTRARIAN FD CL T
    
    
    381
    
    
    Mutual Fund
    
    
    5,574JANUS GROWTH & INCM CL T
    
    
    30
    
    
    Mutual Fund
    
    
    916JANUS OVERSEAS FD CL T
    
    
    100
    
    
    Mutual Fund
    
    
    5,073JANUS OVERSEAS FD CL T
    
    
    263
    
    
    Mutual Fund
    
    
    13,310JANUS OVERSEAS FD CL T
    
    
    670
    
    
    Mutual Fund
    
    
    33,949JANUS RESEARCH FD CL T
    
    
    125
    
    
    Mutual Fund
    
    
    3,670JENSEN PORTFOLIO CLASS J
    
    
    268
    
    
    Mutual Fund
    
    
    7,263JHANCOCK3 DISCIPLINED VALUE
    
    
    597
    
    
    Mutual Fund
    
    
    7,728KINETICS PARADIGM FUND
    
    
    460
    
    
    Mutual Fund
    
    
    10,724LAZARD EMERGING MARKETS PORTFO
    
    
    865
    
    
    Mutual Fund
    
    
    19,191LAZARD EMERGING MARKETS PORTFO
    
    
    378
    
    
    Mutual Fund
    
    
    8,385LEUTHOLD CORE INVESTMENT FUND
    
    
    451
    
    
    Mutual Fund
    
    
    7,610LOOMIS SAYLES BOND CL I
    
    
    4,838
    
    
    Mutual Fund
    
    
    69,032LOOMIS SAYLES BOND FUND CL R
    
    
    1,122
    
    
    Mutual Fund
    
    
    15,951LOOMIS SAYLES GLOBAL BD FUND C
    
    
    465
    
    
    Mutual Fund
    
    
    7,662LOOMIS SAYLES GLOBAL BD FUND C
    
    
    1,591
    
    
    Mutual Fund
    
    
    26,180MANNING & NAPIER EQUITY SERIES
    
    
    579
    
    
    Mutual Fund
    
    
    11,167MANNING & NAPIER WORLD OPPTY
    
    
    311
    
    
    Mutual Fund
    
    
    2,678MARKETFIELD FD
    
    
    1,547
    
    
    Mutual Fund
    
    
    20,918MARSICO GLOBAL FD
    
    
    607
    
    
    Mutual Fund
    
    
    6,729MATTHEWS ASIAN GROWTH & INCOME
    
    
    1,410
    
    
    Mutual Fund
    
    
    25,430MATTHEWS CHINA FUND
    
    
    119
    
    
    Mutual Fund
    
    
    3,495MATTHEWS CHINA FUND
    
    
    251
    
    
    Mutual Fund
    
    
    7,367MATTHEWS INDIA FUND
    
    
    1,215
    
    
    Mutual Fund
    
    
    26,100MERGER FUND
    
    
    3,040
    
    
    Mutual Fund
    
    
    47,967MERIDIAN GROWTH FUND
    
    
    41
    
    
    Mutual Fund
    
    
    1,831MERIDIAN GROWTH FUND
    
    
    359
    
    
    Mutual Fund
    
    
    16,019METROPOLITAN WEST TOTAL RETURN
    
    
    482
    
    
    Mutual Fund
    
    
    4,999METROPOLITAN WEST TOTAL RETURN
    
    
    514
    
    
    Mutual Fund
    
    
    5,340METROPOLITAN WEST TOTAL RETURN
    
    
    2,920
    
    
    Mutual Fund
    
    
    30,311NEUBERGER BERMAN FOCUS FD INV
    
    
    113
    
    
    Mutual Fund
    
    
    2,216NORTHERN SMALL CAP VALUE FUND
    
    
    192
    
    
    Mutual Fund
    
    
    2,916OAKMARK EQUITY INCOME FD
    
    
    2,823
    
    
    Mutual Fund
    
    
    78,307PARNASSUS EQUITY INCOME FUND I
    
    
    145
    
    
    Mutual Fund
    
    
    3,809PARNASSUS EQUITY INCOME FUND I
    
    
    253
    
    
    Mutual Fund
    
    
    6,665PAYDEN VALUE LEADERS FUND
    
    
    332
    
    
    Mutual Fund
    
    
    3,168PERKINS MID CAP VALUE FD CL T
    
    
    190
    
    
    Mutual Fund
    
    
    4,282PERKINS SMALL CAP VALUE FD CL
    
    
    65
    
    
    Mutual Fund
    
    
    1,546PERMANENT PORTFOLIO
    
    
    230
    
    
    Mutual Fund
    
    
    10,524PERRITT MICRO CAP OPPORT
    
    
    373
    
    
    Mutual Fund
    
    
    10,224PERRITT MICRO CAP OPPORT
    
    
    1,312
    
    
    Mutual Fund
    
    
    35,995PIMCO ALL ASSET CL D
    
    
    2,428
    
    
    Mutual Fund
    
    
    29,106PIMCO COMMODITY REAL RETURN
    
    
    3,337
    
    
    Mutual Fund
    
    
    30,997PIMCO DEVELOPING LOCAL MKTS F
    
    
    5,793
    
    
    Mutual Fund
    
    
    61,407PIMCO DIVERSIFIED INCOME CL D
    
    
    448
    
    
    Mutual Fund
    
    
    5,124
 15




---



##### 



WILLIS NORTH AMERICA, INC.  401(K) RETIREMENT SAVINGS PLAN
Employer Identification Number  13-5654526
 FORM 5500, SCHEDULE H, PART 1V, LINE 4i  SCHEDULE OF ASSETS (HELD AT END OF YEAR)  DECEMBER 31, 2010
 Description ofinvestment includingmaturity date, rateof interest,collateral, par, orIdentity of issue, borrower, lessor, or similar party
    
    
    
    
    
    maturity value
    
    Current ValuePIMCO TOTAL RETURN FUND CL D
    
    
    457
    
    
    Mutual Fund
    
    
    4,960PIMCO TOTAL RETURN FUND CL D
    
    
    5,441
    
    
    Mutual Fund
    
    
    59,032PIMCO TOTAL RETURN FUND CL D
    
    
    1,724
    
    
    Mutual Fund
    
    
    18,707PIMCO TOTAL RETURN FUND CL D
    
    
    4,863
    
    
    Mutual Fund
    
    
    52,766PIMCO TOTAL RETURN FUND INSTL
    
    
    6,011
    
    
    Mutual Fund
    
    
    65,215RAINIER MID CAP EQUITY PORT O
    
    
    489
    
    
    Mutual Fund
    
    
    19,556ROYCE LOW PRICED STOCK FUND S
    
    
    804
    
    
    Mutual Fund
    
    
    14,671ROYCE PENNSYLVANIA MUTUA
    
    
    898
    
    
    Mutual Fund
    
    
    10,456ROYCE PREMIER FUND INVEST
    
    
    3,902
    
    
    Mutual Fund
    
    
    79,408ROYCE VALUE PLUS FUND SVC CL
    
    
    3,128
    
    
    Mutual Fund
    
    
    41,978RS TECHNOLOGY FUND
    
    
    759
    
    
    Mutual Fund
    
    
    14,880RYDEX NASDAQ-100 FUND INV CL
    
    
    122
    
    
    Mutual Fund
    
    
    1,767SCHW US LCAP ETF
    
    
    352
    
    
    Mutual Fund
    
    
    10,532SCHWAB DIVIDEND EQUITY FUND
    
    
    2,217
    
    
    Mutual Fund
    
    
    28,486SCHWAB FINANCIAL SERVICES FUND
    
    
    698
    
    
    Mutual Fund
    
    
    7,311SCHWAB GNMA FUND
    
    
    3,003
    
    
    Mutual Fund
    
    
    30,631SCHWAB HEALTH CARE FUND
    
    
    250
    
    
    Mutual Fund
    
    
    3,961SCHWAB INFLATION PROTEC
    
    
    6,909
    
    
    Mutual Fund
    
    
    74,131SCHWAB INTL INDEX FUND
    
    
    646
    
    
    Mutual Fund
    
    
    11,129SCHWAB MARKETTRACK CONSER
    
    
    467
    
    
    Mutual Fund
    
    
    6,201SCHWAB S&P 500 INDEX FD
    
    
    1,155
    
    
    Mutual Fund
    
    
    22,602SCHWAB S&P 500 INDEX FD
    
    
    466
    
    
    Mutual Fund
    
    
    9,123SCHWAB SMALL CAP INDEX FUND
    
    
    646
    
    
    Mutual Fund
    
    
    13,634SCHWAB SMALL CAP INDEX FUND
    
    
    239
    
    
    Mutual Fund
    
    
    5,048SCHWAB US TREAS MONEY FD
    
    
    255,787
    
    
    Mutual Fund
    
    
    255,787SCHWAB US TREAS MONEY FD
    
    
    55,032
    
    
    Mutual Fund
    
    
    55,032SCHWAB US TREAS MONEY FD
    
    
    2,089
    
    
    Mutual Fund
    
    
    2,089SCHWAB VALUE ADVANTAGE MONEY
    
    
    37,139
    
    
    Mutual Fund
    
    
    37,139SCHWAB VALUE ADVANTAGE MONEY
    
    
    252,078
    
    
    Mutual Fund
    
    
    252,078SELECTED AMERICAN SHARESCLASS
    
    
    1,886
    
    
    Mutual Fund
    
    
    78,150SENOMYX INC ** PEN
    
    
    500
    
    
    Mutual Fund
    
    
    3,565SEQUOIA FUND
    
    
    42
    
    
    Mutual Fund
    
    
    5,371SOUND SHORE FUND INC
    
    
    1,789
    
    
    Mutual Fund
    
    
    56,924STRATTON SMALL CAP VALUE FUND
    
    
    206
    
    
    Mutual Fund
    
    
    10,199T ROWE PRICE EMERGING MARKET
    
    
    768
    
    
    Mutual Fund
    
    
    27,105T ROWE PRICE EUROPEAN STOCK
    
    
    198
    
    
    Mutual Fund
    
    
    2,966T ROWE PRICE HIGH YIELD FUND
    
    
    7,267
    
    
    Mutual Fund
    
    
    49,273T ROWE PRICE INTL BOND FUND
    
    
    3,093
    
    
    Mutual Fund
    
    
    30,780T ROWE PRICE LATIN AMERIC
    
    
    660
    
    
    Mutual Fund
    
    
    37,454T ROWE PRICE LATIN AMERIC
    
    
    71
    
    
    Mutual Fund
    
    
    4,033T ROWE PRICE MEDIA AND TELECO
    
    
    245
    
    
    Mutual Fund
    
    
    12,674TEMPLETON FOREIGN FUND CL A
    
    
    974
    
    
    Mutual Fund
    
    
    6,797TEMPLETON GLOBAL BOND FUND A
    
    
    3,359
    
    
    Mutual Fund
    
    
    45,543TEMPLETON WORLD FUND CL A
    
    
    2,770
    
    
    Mutual Fund
    
    
    41,109THE DELAFIELD FUND
    
    
    364
    
    
    Mutual Fund
    
    
    10,687THE DELAFIELD FUND
    
    
    1,227
    
    
    Mutual Fund
    
    
    36,057THIRD AVENUE REAL ESTATE VALUE
    
    
    401
    
    
    Mutual Fund
    
    
    9,283THIRD AVENUE VALUE FD INSTL
    
    
    466
    
    
    Mutual Fund
    
    
    24,107THORNBURG LTD TERM INCM FD CL
    
    
    902
    
    
    Mutual Fund
    
    
    11,821TOCQUEVILLE FUND
    
    
    443
    
    
    Mutual Fund
    
    
    9,984TOCQUEVILLE GOLD FUND
    
    
    46
    
    
    Mutual Fund
    
    
    3,953TOCQUEVILLE GOLD FUND
    
    
    224
    
    
    Mutual Fund
    
    
    19,339TWEEDY BROWNE GLOBAL VALUE
    
    
    37
    
    
    Mutual Fund
    
    
    884VALUE LINE EMERGING OPPORT
    
    
    76
    
    
    Mutual Fund
    
    
    2,386VANGUARD 500 INDEX FUND INVEST
    
    
    79
    
    
    Mutual Fund
    
    
    9,097VANGUARD 500 INDEX FUND INVEST
    
    
    108
    
    
    Mutual Fund
    
    
    12,554VANGUARD 500 INDEX FUND INVEST
    
    
    662
    
    
    Mutual Fund
    
    
    76,650VANGUARD DEVELOPED MKTS INDEX
    
    
    8,069
    
    
    Mutual Fund
    
    
    81,170VANGUARD DIVIDEND GROWTH FUND
    
    
    1,251
    
    
    Mutual Fund
    
    
    17,985VANGUARD DIVIDEND GROWTH FUND
    
    
    3,268
    
    
    Mutual Fund
    
    
    47,001VANGUARD EMERGING MKTS STOCK
    
    
    712
    
    
    Mutual Fund
    
    
    21,603VANGUARD EMERGING MKTS STOCK
    
    
    529
    
    
    Mutual Fund
    
    
    16,035VANGUARD HIGH YIELD CORP FUND
    
    
    1,214
    
    
    Mutual Fund
    
    
    6,918VANGUARD HIGH YIELD CORP FUND
    
    
    5,126
    
    
    Mutual Fund
    
    
    29,216VANGUARD INFLATION PROTEC
    
    
    1,399
    
    
    Mutual Fund
    
    
    18,188VANGUARD INFLATION PROTEC
    
    
    4,067
    
    
    Mutual Fund
    
    
    52,868VANGUARD INTL EXPLORER INVES
    
    
    1,638
    
    
    Mutual Fund
    
    
    27,310
 16




---



##### 



WILLIS NORTH AMERICA, INC.  401(K) RETIREMENT SAVINGS PLAN
Employer Identification Number  13-5654526
 FORM 5500, SCHEDULE H, PART 1V, LINE 4i  SCHEDULE OF ASSETS (HELD AT END OF YEAR)  DECEMBER 31, 2010
 Description ofinvestment includingmaturity date, rateof interest,collateral, par, orIdentity of issue, borrower, lessor, or similar party
    
    
    
    
    
    maturity value
    
    Current ValueVANGUARD INTL GROWTH FD INVEST
    
    
    843
    
    
    Mutual Fund
    
    
    16,307VANGUARD INTL GROWTH FD INVEST
    
    
    186
    
    
    Mutual Fund
    
    
    3,593VANGUARD INTL VALUE FUND
    
    
    482
    
    
    Mutual Fund
    
    
    15,517VANGUARD MID CAP GROWTH INDEX
    
    
    805
    
    
    Mutual Fund
    
    
    19,682VANGUARD S/T INVESTMENT GRADE
    
    
    5,234
    
    
    Mutual Fund
    
    
    56,366VANGUARD SHORT TERM BOND INDEX
    
    
    4,789
    
    
    Mutual Fund
    
    
    50,523VANGUARD SMALL CAP GROWTH
    
    
    751
    
    
    Mutual Fund
    
    
    16,468VANGUARD SMALL CAP INDEX FUND
    
    
    640
    
    
    Mutual Fund
    
    
    22,237VANGUARD SMALL CAP VALUE INDEX
    
    
    314
    
    
    Mutual Fund
    
    
    5,031VANGUARD TOTAL BD MARKET INDEX
    
    
    4,277
    
    
    Mutual Fund
    
    
    45,338VANGUARD TOTAL BD MARKET INDEX
    
    
    3,015
    
    
    Mutual Fund
    
    
    31,957VANGUARD TOTAL INTL STOCK
    
    
    973
    
    
    Mutual Fund
    
    
    15,330VANGUARD TOTAL INTL STOCK
    
    
    839
    
    
    Mutual Fund
    
    
    13,220VANGUARD TOTAL STOCK MKT INDEX
    
    
    827
    
    
    Mutual Fund
    
    
    26,095VANGUARD TOTAL STOCK MKT INDEX
    
    
    242
    
    
    Mutual Fund
    
    
    7,625VANGUARD TOTAL STOCK MKT INDEX
    
    
    357
    
    
    Mutual Fund
    
    
    11,254VANGUARD VALUE INDEX FUND I
    
    
    593
    
    
    Mutual Fund
    
    
    12,320VANGUARD WELLESLEY INCOME
    
    
    1,541
    
    
    Mutual Fund
    
    
    33,430VANGUARD WELLINGTON FD INVEST
    
    
    513
    
    
    Mutual Fund
    
    
    15,958VANGUARD WELLINGTON FD INVEST
    
    
    1,347
    
    
    Mutual Fund
    
    
    41,879VANGUARD WINDSOR FUND INVEST
    
    
    1,011
    
    
    Mutual Fund
    
    
    13,662VANGUARD WINDSOR II FD INVEST
    
    
    881
    
    
    Mutual Fund
    
    
    22,612WASATCH EMRG MKT SMALL CAP FD
    
    
    820
    
    
    Mutual Fund
    
    
    2,107WEITZ VALUE FUND
    
    
    858
    
    
    Mutual Fund
    
    
    24,398WELLS FARGO ADVANTAGE DIVERS
    
    
    83
    
    
    Mutual Fund
    
    
    873WELLS FARGO ADVANTAGE GROWTH
    
    
    247
    
    
    Mutual Fund
    
    
    7,903WELLS FARGO ADVANTAGE PREMIE
    
    
    386
    
    
    Mutual Fund
    
    
    3,569WESTCORE SELECT FUND RETAIL
    
    
    2,132
    
    
    Mutual Fund
    
    
    44,916WHITE OAK SELECT GROWTH FUND
    
    
    247
    
    
    Mutual Fund
    
    
    9,791WHITE OAK SELECT GROWTH FUND
    
    
    457
    
    
    Mutual Fund
    
    
    18,132YACKTMAN FOCUSED FUND
    
    
    484
    
    
    Mutual Fund
    
    
    8,550YACKTMAN FUND
    
    
    1,210
    
    
    Mutual Fund
    
    
    20,012YACKTMAN FUND
    
    
    685
    
    
    Mutual Fund
    
    
    11,333YACKTMAN FUND
    
    
    4,890
    
    
    Mutual Fund
    
    
    80,881Total
    
    
    
    
    
    
    
    
    6,192,188Common StocksWillisWILLIS STOCK FUND
    
    
    557,969
    
    
    Shares of Common Stock
    
    
    20,193,382WILLIS GRP HLDGS PUBLICF
    
    
    350
    
    
    Shares of Common Stock
    
    
    12,121Total
    
    
    
    
    
    
    
    
    20,205,503Other Common Stock1/100 BERKSHIRE HTWY CLA100 SH
    
    
    100
    
    
    Shares of Common Stock
    
    
    120,4503M COMPANY
    
    
    50
    
    
    Shares of Common Stock
    
    
    4,3153M COMPANY
    
    
    52
    
    
    Shares of Common Stock
    
    
    4,4843M COMPANY
    
    
    631
    
    
    Shares of Common Stock
    
    
    54,441A E S CORP
    
    
    100
    
    
    Shares of Common Stock
    
    
    1,218A M R CORPORATION
    
    
    75
    
    
    Shares of Common Stock
    
    
    584A T & T INC NEW
    
    
    426
    
    
    Shares of Common Stock
    
    
    12,507A T & T INC NEW
    
    
    1,000
    
    
    Shares of Common Stock
    
    
    29,380A T & T INC NEW
    
    
    200
    
    
    Shares of Common Stock
    
    
    5,876A T & T INC NEW
    
    
    132
    
    
    Shares of Common Stock
    
    
    3,878A T & T INC NEW
    
    
    46
    
    
    Shares of Common Stock
    
    
    1,364A T & T INC NEW
    
    
    5
    
    
    Shares of Common Stock
    
    
    147ABBOTT LABORATORIES
    
    
    100
    
    
    Shares of Common Stock
    
    
    4,791ACTIONS SEMICNDCTOR ADRF** PEN
    
    
    3,000
    
    
    Shares of Common Stock
    
    
    6,450AETNA INC NEW
    
    
    50
    
    
    Shares of Common Stock
    
    
    1,526AGNICO-EAGLE MINES LTD F
    
    
    45
    
    
    Shares of Common Stock
    
    
    3,452AIRGAS INC TENDER
    
    
    50
    
    
    Shares of Common Stock
    
    
    3,123AKAMAI TECHNOLOGIES
    
    
    65
    
    
    Shares of Common Stock
    
    
    3,058ALAMOS GOLD INC F
    
    
    400
    
    
    Shares of Common Stock
    
    
    7,616ALBERTA STAR DEV CP NEWF
    
    
    200
    
    
    Shares of Common Stock
    
    
    113ALCATEL LUCENT ADR FSPONSO
    
    
    585
    
    
    Shares of Common Stock
    
    
    1,732ALCATEL LUCENT ADR FSPONSO
    
    
    10
    
    
    Shares of Common Stock
    
    
    30ALCATEL LUCENT ADR FSPONSO
    
    
    136
    
    
    Shares of Common Stock
    
    
    403ALLIED WORLD ASSURANCE F
    
    
    200
    
    
    Shares of Common Stock
    
    
    11,888ALNYLAM PHARMACEUTICALS ** PEN
    
    
    500
    
    
    Shares of Common Stock
    
    
    4,930ALPHA NATURAL RESOURCES ** PEN
    
    
    77
    
    
    Shares of Common Stock
    
    
    4,622
 17




---



##### 



WILLIS NORTH AMERICA, INC.  401(K) RETIREMENT SAVINGS PLAN
Employer Identification Number  13-5654526
 FORM 5500, SCHEDULE H, PART 1V, LINE 4i  SCHEDULE OF ASSETS (HELD AT END OF YEAR)  DECEMBER 31, 2010
 Description ofinvestment includingmaturity date, rateof interest,collateral, par, orIdentity of issue, borrower, lessor, or similar party
    
    
    
    
    
    maturity value
    
    Current ValueALPHA PRO TECH LTD F
    
    
    2,000
    
    
    Shares of Common Stock
    
    
    3,560ALTRIA GROUP INC
    
    
    533
    
    
    Shares of Common Stock
    
    
    13,132ALTRIA GROUP INC
    
    
    300
    
    
    Shares of Common Stock
    
    
    7,386ALTRIA GROUP INC
    
    
    500
    
    
    Shares of Common Stock
    
    
    12,310ALTRIA GROUP INC
    
    
    93
    
    
    Shares of Common Stock
    
    
    2,283AMAZON COM INC
    
    
    25
    
    
    Shares of Common Stock
    
    
    4,500AMAZON COM INC
    
    
    50
    
    
    Shares of Common Stock
    
    
    9,000AMER SAFTY INS HLDG LTDF
    
    
    3,000
    
    
    Shares of Common Stock
    
    
    64,140AMEREN CORPORATION
    
    
    800
    
    
    Shares of Common Stock
    
    
    22,552AMERICAN INTL GROUP NEW
    
    
    50
    
    
    Shares of Common Stock
    
    
    2,881AMERICAN INTL GROUP NEW
    
    
    50
    
    
    Shares of Common Stock
    
    
    2,881AMERICAN INTL GROUP NEW
    
    
    25
    
    
    Shares of Common Stock
    
    
    1,441AMERICAN INTL GROUP NEW
    
    
    105
    
    
    Shares of Common Stock
    
    
    6,050AMERICAN INTL GROUP NEW
    
    
    327
    
    
    Shares of Common Stock
    
    
    18,842AMERICAN INTL GROUP NEW
    
    
    18
    
    
    Shares of Common Stock
    
    
    1,037AMERICAN INTL GROUP NEW
    
    
    100
    
    
    Shares of Common Stock
    
    
    5,762AMERICAN INTL GROUP NEW
    
    
    25
    
    
    Shares of Common Stock
    
    
    1,441AMERICAN INTL GROUP NEW
    
    
    4
    
    
    Shares of Common Stock
    
    
    230AMERICAN INTL GROUP NEW
    
    
    63
    
    
    Shares of Common Stock
    
    
    3,630AMERICAN SKIING CORP XXXPLAN O
    
    
    200
    
    
    Shares of Common Stock
    
    
    0AMERICAN SKIING CORP XXXPLAN O
    
    
    690
    
    
    Shares of Common Stock
    
    
    0AMERICAN SKIING CORP XXXPLAN O
    
    
    940
    
    
    Shares of Common Stock
    
    
    0AMERICAN STATES WATER COHOLDIN
    
    
    165
    
    
    Shares of Common Stock
    
    
    5,685AMPHENOL CORP CL A
    
    
    40
    
    
    Shares of Common Stock
    
    
    2,111ANADARKO PETROLEUM CORP
    
    
    200
    
    
    Shares of Common Stock
    
    
    15,232ANADYS PHARMACEUTICALS ** PEN
    
    
    1,000
    
    
    Shares of Common Stock
    
    
    1,420ANNALY CAPITAL MGMT REIT
    
    
    3,000
    
    
    Shares of Common Stock
    
    
    53,760ANTARES PHARMA INC
    
    
    1,000
    
    
    Shares of Common Stock
    
    
    1,700AOL INC
    
    
    3
    
    
    Shares of Common Stock
    
    
    71AOL INC
    
    
    9
    
    
    Shares of Common Stock
    
    
    213AOL INC
    
    
    3
    
    
    Shares of Common Stock
    
    
    71APOLLO GROUP INC CL A
    
    
    180
    
    
    Shares of Common Stock
    
    
    7,108APPLE INC
    
    
    282
    
    
    Shares of Common Stock
    
    
    90,962APPLE INC
    
    
    140
    
    
    Shares of Common Stock
    
    
    45,158APPLE INC
    
    
    85
    
    
    Shares of Common Stock
    
    
    27,418APPLE INC
    
    
    50
    
    
    Shares of Common Stock
    
    
    16,128APPLE INC
    
    
    32
    
    
    Shares of Common Stock
    
    
    10,322APPLE INC
    
    
    40
    
    
    Shares of Common Stock
    
    
    12,902APPLE INC
    
    
    100
    
    
    Shares of Common Stock
    
    
    32,256APPLIED MATERIALS INC
    
    
    1
    
    
    Shares of Common Stock
    
    
    20APPLIED MATERIALS INC
    
    
    218
    
    
    Shares of Common Stock
    
    
    3,063APPLIED MATERIALS INC
    
    
    300
    
    
    Shares of Common Stock
    
    
    4,215APPLIED VISUAL SCIENCES
    
    
    6,000
    
    
    Shares of Common Stock
    
    
    1,980ARADIGM CORP NEW
    
    
    180
    
    
    Shares of Common Stock
    
    
    30ARCA BIOPHARMA INC
    
    
    250
    
    
    Shares of Common Stock
    
    
    793ARCELOR MITTAL NY NEW FNEW YO
    
    
    125
    
    
    Shares of Common Stock
    
    
    4,766ARCELOR MITTAL NY NEW FNEW YO
    
    
    35
    
    
    Shares of Common Stock
    
    
    1,335ARCHER-DANIELS-MIDLND CO
    
    
    50
    
    
    Shares of Common Stock
    
    
    1,504ASPEN INSURANCE HOLDINGS** PEN
    
    
    500
    
    
    Shares of Common Stock
    
    
    14,310ATLAS CORPORATION
    
    
    103,000
    
    
    Shares of Common Stock
    
    
    1,545ATLAS ENERGY INC
    
    
    290
    
    
    Shares of Common Stock
    
    
    12,751ATMEL CORP
    
    
    3,046
    
    
    Shares of Common Stock
    
    
    37,527ATMEL CORP
    
    
    2,000
    
    
    Shares of Common Stock
    
    
    24,640ATP OIL & GAS CORP
    
    
    550
    
    
    Shares of Common Stock
    
    
    9,207AUCTION MILLS INC NEW
    
    
    4
    
    
    Shares of Common Stock
    
    
    0AUDIOVOX CP CL A
    
    
    100
    
    
    Shares of Common Stock
    
    
    863AUTO DATA PROCESSING
    
    
    40
    
    
    Shares of Common Stock
    
    
    1,851B M C SOFTWARE INC
    
    
    400
    
    
    Shares of Common Stock
    
    
    18,856B2GOLD CORP F
    
    
    392
    
    
    Shares of Common Stock
    
    
    1,061BAIDU COM INC ADR F** PEN
    
    
    75
    
    
    Shares of Common Stock
    
    
    7,240BAIDU COM INC ADR F** PEN
    
    
    50
    
    
    Shares of Common Stock
    
    
    4,827BANCO SANTANDR CENT ADRFSPONSO
    
    
    100
    
    
    Shares of Common Stock
    
    
    1,065BANCO SANTANDR CENT ADRFSPONSO
    
    
    370
    
    
    Shares of Common Stock
    
    
    3,941BANDERA GOLD LTD F
    
    
    500
    
    
    Shares of Common Stock
    
    
    123BANK OF AMERICA CORP
    
    
    104
    
    
    Shares of Common Stock
    
    
    1,387BANK OF AMERICA CORP
    
    
    1,001
    
    
    Shares of Common Stock
    
    
    13,350BANK OF AMERICA CORP
    
    
    50
    
    
    Shares of Common Stock
    
    
    667
 18




---



##### 



WILLIS NORTH AMERICA, INC.  401(K) RETIREMENT SAVINGS PLAN
Employer Identification Number  13-5654526
 FORM 5500, SCHEDULE H, PART 1V, LINE 4i  SCHEDULE OF ASSETS (HELD AT END OF YEAR)  DECEMBER 31, 2010
 Description ofinvestment includingmaturity date, rateof interest,collateral, par, orIdentity of issue, borrower, lessor, or similar party
    
    
    
    
    
    maturity value
    
    Current ValueBANK OF AMERICA CORP
    
    
    428
    
    
    Shares of Common Stock
    
    
    5,713BANK OF AMERICA CORP
    
    
    343
    
    
    Shares of Common Stock
    
    
    4,576BANK OF AMERICA CORP
    
    
    50
    
    
    Shares of Common Stock
    
    
    667BANK OF AMERICA CORP
    
    
    300
    
    
    Shares of Common Stock
    
    
    4,002BANK OF AMERICA CORP
    
    
    752
    
    
    Shares of Common Stock
    
    
    10,026BANK OF AMERICA CORP
    
    
    135
    
    
    Shares of Common Stock
    
    
    1,806BANNEKER INC NEW
    
    
    50
    
    
    Shares of Common Stock
    
    
    0BARRETT BUSINESS SVCS
    
    
    758
    
    
    Shares of Common Stock
    
    
    11,789BAYER A G SPONSORED ADRFSPONSO
    
    
    350
    
    
    Shares of Common Stock
    
    
    25,848BAYSWATER URANIUM NEW F
    
    
    100
    
    
    Shares of Common Stock
    
    
    80BB&T CORPORATION
    
    
    5
    
    
    Shares of Common Stock
    
    
    141BEMIS CO INC
    
    
    330
    
    
    Shares of Common Stock
    
    
    10,778BERKLEY W R CORPORATION
    
    
    104
    
    
    Shares of Common Stock
    
    
    2,836BERKSHIRE HATHAWAY B NEWCLASS
    
    
    150
    
    
    Shares of Common Stock
    
    
    12,017BERKSHIRE HATHAWAY B NEWCLASS
    
    
    40
    
    
    Shares of Common Stock
    
    
    3,204BERKSHIRE HATHAWAY B NEWCLASS
    
    
    150
    
    
    Shares of Common Stock
    
    
    12,017BERKSHIRE HATHAWAY B NEWCLASS
    
    
    50
    
    
    Shares of Common Stock
    
    
    4,006BERKSHIRE HATHAWAY B NEWCLASS
    
    
    100
    
    
    Shares of Common Stock
    
    
    8,011BERKSHIRE HATHAWAY B NEWCLASS
    
    
    20
    
    
    Shares of Common Stock
    
    
    1,602BIOELECTRONICS CORP
    
    
    12,000
    
    
    Shares of Common Stock
    
    
    112BIOPURE CORP CL A NEW
    
    
    16
    
    
    Shares of Common Stock
    
    
    0BIOSANTE PHARMA INC NEW
    
    
    5,000
    
    
    Shares of Common Stock
    
    
    8,200BIOSTAR PHARMACEUTICALS
    
    
    9,000
    
    
    Shares of Common Stock
    
    
    25,380BIOSTAR PHARMACEUTICALS
    
    
    1,000
    
    
    Shares of Common Stock
    
    
    2,820BLACK HILLS CORP
    
    
    800
    
    
    Shares of Common Stock
    
    
    24,000BLACKSTONE GROUP LP ** PEN
    
    
    331
    
    
    Shares of Common Stock
    
    
    4,687BONANZA OIL & GAS INC
    
    
    2,400
    
    
    Shares of Common Stock
    
    
    1BOSTON SCIENTIFIC CORP
    
    
    1,000
    
    
    Shares of Common Stock
    
    
    7,570BP PLC ADR FSPONSO
    
    
    40
    
    
    Shares of Common Stock
    
    
    1,767BRINKS CO DUTCH
    
    
    303
    
    
    Shares of Common Stock
    
    
    8,147BRINKS CO DUTCH
    
    
    39
    
    
    Shares of Common Stock
    
    
    1,040BROOKFIELD INFRA PTNRS F
    
    
    483
    
    
    Shares of Common Stock
    
    
    10,170BROOKS AUTOMATION NEW DUTCH
    
    
    31
    
    
    Shares of Common Stock
    
    
    281BRUKER CORPORATION
    
    
    600
    
    
    Shares of Common Stock
    
    
    9,960BUNGE LIMITED F
    
    
    1,475
    
    
    Shares of Common Stock
    
    
    96,658C H ROBINSON WORLDWD NEW
    
    
    75
    
    
    Shares of Common Stock
    
    
    6,014C S X CORP
    
    
    60
    
    
    Shares of Common Stock
    
    
    3,877CADAN RESOURCES NEW F
    
    
    100
    
    
    Shares of Common Stock
    
    
    75CALLON PETROLEUM CO
    
    
    500
    
    
    Shares of Common Stock
    
    
    2,960CALPINE CORP NEW
    
    
    1,000
    
    
    Shares of Common Stock
    
    
    13,340CALUMET SPECIALTY PROD ** PRI
    
    
    15
    
    
    Shares of Common Stock
    
    
    320CANADIAN ZINC CORP F
    
    
    400
    
    
    Shares of Common Stock
    
    
    268CAPITAL BANK CORP NEW
    
    
    203
    
    
    Shares of Common Stock
    
    
    506CAPITALSOURCE INC ** PRI
    
    
    8,000
    
    
    Shares of Common Stock
    
    
    56,800CAPSTONE MINING CORP F
    
    
    200
    
    
    Shares of Common Stock
    
    
    904CATERPILLAR INC
    
    
    100
    
    
    Shares of Common Stock
    
    
    9,366CATERPILLAR INC
    
    
    35
    
    
    Shares of Common Stock
    
    
    3,278CATERPILLAR INC
    
    
    15
    
    
    Shares of Common Stock
    
    
    1,405CELGENE CORP
    
    
    55
    
    
    Shares of Common Stock
    
    
    3,253CENTRAL FD CDA LTD CLA FCLASS
    
    
    170
    
    
    Shares of Common Stock
    
    
    3,524CENTRAL FD CDA LTD CLA FCLASS
    
    
    2,000
    
    
    Shares of Common Stock
    
    
    41,460CENTURYLINK INC
    
    
    300
    
    
    Shares of Common Stock
    
    
    13,851CENTURYLINK INC
    
    
    1,000
    
    
    Shares of Common Stock
    
    
    46,170CENVEO INC
    
    
    5,500
    
    
    Shares of Common Stock
    
    
    29,370CERNER CORP
    
    
    100
    
    
    Shares of Common Stock
    
    
    9,474CERRO RESOURCES NL ORD F
    
    
    2,500
    
    
    Shares of Common Stock
    
    
    436CERRO RESOURCES NL ORD F
    
    
    37,500
    
    
    Shares of Common Stock
    
    
    6,536CHECK PT SOFTWARE TECH F
    
    
    200
    
    
    Shares of Common Stock
    
    
    9,252CHESAPEAKE ENERGY CORP
    
    
    103
    
    
    Shares of Common Stock
    
    
    2,675CHESAPEAKE ENERGY CORP
    
    
    10
    
    
    Shares of Common Stock
    
    
    259CHESAPEAKE UTIL CORP
    
    
    100
    
    
    Shares of Common Stock
    
    
    4,152CHEVRON CORPORATION
    
    
    100
    
    
    Shares of Common Stock
    
    
    9,125CHEVRON CORPORATION
    
    
    70
    
    
    Shares of Common Stock
    
    
    6,388CHINA ENERGY SVGS TECH TRADIN
    
    
    1,000
    
    
    Shares of Common Stock
    
    
    0CHINA GERUI ADV MAT GP F
    
    
    1,000
    
    
    Shares of Common Stock
    
    
    5,880CHINA JO-JO DRGSTORE NEW
    
    
    1,500
    
    
    Shares of Common Stock
    
    
    6,300CHINA KANGTAI CACTUS BIO
    
    
    1,000
    
    
    Shares of Common Stock
    
    
    1,030
 19




---



##### 



WILLIS NORTH AMERICA, INC.  401(K) RETIREMENT SAVINGS PLAN
Employer Identification Number  13-5654526
 FORM 5500, SCHEDULE H, PART 1V, LINE 4i  SCHEDULE OF ASSETS (HELD AT END OF YEAR)  DECEMBER 31, 2010
 Description ofinvestment includingmaturity date, rateof interest,collateral, par, orIdentity of issue, borrower, lessor, or similar party
    
    
    
    
    
    maturity value
    
    Current ValueCHINA SEC & SRVLLNCE NEWDELAWA
    
    
    4,000
    
    
    Shares of Common Stock
    
    
    21,320CHINA TEL GROUP INC
    
    
    20,000
    
    
    Shares of Common Stock
    
    
    3,350CHIPOTLE MEXICAN GRILL ** PEN
    
    
    25
    
    
    Shares of Common Stock
    
    
    5,317CHIPOTLE MEXICAN GRILL ** PEN
    
    
    10
    
    
    Shares of Common Stock
    
    
    2,127CHUBB CORPORATION
    
    
    200
    
    
    Shares of Common Stock
    
    
    11,928CISCO SYSTEMS INC
    
    
    1,620
    
    
    Shares of Common Stock
    
    
    32,773CISCO SYSTEMS INC
    
    
    400
    
    
    Shares of Common Stock
    
    
    8,092CISCO SYSTEMS INC
    
    
    70
    
    
    Shares of Common Stock
    
    
    1,416CISCO SYSTEMS INC
    
    
    400
    
    
    Shares of Common Stock
    
    
    8,092CISCO SYSTEMS INC
    
    
    200
    
    
    Shares of Common Stock
    
    
    4,046CISCO SYSTEMS INC
    
    
    196
    
    
    Shares of Common Stock
    
    
    3,965CISCO SYSTEMS INC
    
    
    200
    
    
    Shares of Common Stock
    
    
    4,046CISCO SYSTEMS INC
    
    
    300
    
    
    Shares of Common Stock
    
    
    6,069CISCO SYSTEMS INC
    
    
    22
    
    
    Shares of Common Stock
    
    
    445CISCO SYSTEMS INC
    
    
    125
    
    
    Shares of Common Stock
    
    
    2,529CITADEL BROADCASTING CP
    
    
    15
    
    
    Shares of Common Stock
    
    
    0CITADEL BROADCASTING CP
    
    
    4
    
    
    Shares of Common Stock
    
    
    0CITADEL BROADCASTING CP
    
    
    8
    
    
    Shares of Common Stock
    
    
    0CITIGROUP INC
    
    
    2,300
    
    
    Shares of Common Stock
    
    
    10,879CITIGROUP INC
    
    
    2,300
    
    
    Shares of Common Stock
    
    
    10,879CITIGROUP INC
    
    
    2,000
    
    
    Shares of Common Stock
    
    
    9,460CITIGROUP INC
    
    
    250
    
    
    Shares of Common Stock
    
    
    1,183CITIGROUP INC
    
    
    57,440
    
    
    Shares of Common Stock
    
    
    271,691CITIGROUP INC
    
    
    1,690
    
    
    Shares of Common Stock
    
    
    7,994CITIGROUP INC
    
    
    405
    
    
    Shares of Common Stock
    
    
    1,916CITIGROUP INC
    
    
    400
    
    
    Shares of Common Stock
    
    
    1,892CITIGROUP INC
    
    
    6,000
    
    
    Shares of Common Stock
    
    
    28,380CITIGROUP INC
    
    
    200
    
    
    Shares of Common Stock
    
    
    946CITIGROUP INC
    
    
    179
    
    
    Shares of Common Stock
    
    
    845CITIGROUP INC
    
    
    850
    
    
    Shares of Common Stock
    
    
    4,021CITIGROUP INC
    
    
    1,485
    
    
    Shares of Common Stock
    
    
    7,024CITIGROUP INC
    
    
    3,700
    
    
    Shares of Common Stock
    
    
    17,501CITRIX SYSTEMS INC
    
    
    200
    
    
    Shares of Common Stock
    
    
    13,682CITRIX SYSTEMS INC
    
    
    15
    
    
    Shares of Common Stock
    
    
    1,026COACH INC
    
    
    55
    
    
    Shares of Common Stock
    
    
    3,042COCA COLA COMPANY
    
    
    100
    
    
    Shares of Common Stock
    
    
    6,577COCA COLA COMPANY
    
    
    11
    
    
    Shares of Common Stock
    
    
    749COCA COLA COMPANY
    
    
    58
    
    
    Shares of Common Stock
    
    
    3,797COEUR D ALENE MINES NEW
    
    
    85
    
    
    Shares of Common Stock
    
    
    2,322COGNIZANT TECH SOL CL A
    
    
    150
    
    
    Shares of Common Stock
    
    
    10,994COLGATE-PALMOLIVE CO
    
    
    70
    
    
    Shares of Common Stock
    
    
    5,626COLONIAL BANCGROUP INC REGIST
    
    
    725
    
    
    Shares of Common Stock
    
    
    5COMCAST CORP NEW CL A
    
    
    102
    
    
    Shares of Common Stock
    
    
    2,234COMCAST CORP NEW CL A
    
    
    16
    
    
    Shares of Common Stock
    
    
    352COMDISCO HOLDING CO RTSRIGHTS
    
    
    150
    
    
    Shares of Common Stock
    
    
    19COMPUTRZD THERML IMAGING
    
    
    1,000
    
    
    Shares of Common Stock
    
    
    2COMPUTRZD THERML IMAGING
    
    
    100
    
    
    Shares of Common Stock
    
    
    0CONAGRA FOODS INC
    
    
    10
    
    
    Shares of Common Stock
    
    
    226CONOCOPHILLIPS
    
    
    800
    
    
    Shares of Common Stock
    
    
    54,480CONOCOPHILLIPS
    
    
    50
    
    
    Shares of Common Stock
    
    
    3,405CONOCOPHILLIPS
    
    
    430
    
    
    Shares of Common Stock
    
    
    29,283CONOCOPHILLIPS
    
    
    6
    
    
    Shares of Common Stock
    
    
    383CONS WATER CO INC ORD F
    
    
    529
    
    
    Shares of Common Stock
    
    
    4,851CONSOL ENERGY INC
    
    
    104
    
    
    Shares of Common Stock
    
    
    5,078CONTL PRECIOUS MINERALSF
    
    
    1,000
    
    
    Shares of Common Stock
    
    
    866COPANO ENERGY LLC ** PEN
    
    
    17
    
    
    Shares of Common Stock
    
    
    570CORN PRODUCTS INTL INC
    
    
    100
    
    
    Shares of Common Stock
    
    
    4,601CORNING INC
    
    
    200
    
    
    Shares of Common Stock
    
    
    3,864COSTCO WHSL CORP NEW
    
    
    90
    
    
    Shares of Common Stock
    
    
    6,499COVIDIEN PLC F
    
    
    9
    
    
    Shares of Common Stock
    
    
    418CPEX PHARMACEUTICALS INCTENDER
    
    
    10
    
    
    Shares of Common Stock
    
    
    243CREE INC
    
    
    25
    
    
    Shares of Common Stock
    
    
    1,647CROSSHAIR EXPL NEW F
    
    
    362
    
    
    Shares of Common Stock
    
    
    912CYNOSURE INC ** PEN
    
    
    600
    
    
    Shares of Common Stock
    
    
    6,138DECKERS OUTDOOR CORP
    
    
    105
    
    
    Shares of Common Stock
    
    
    8,373DECODE GENETICS INC XXXPLAN O
    
    
    5,900
    
    
    Shares of Common Stock
    
    
    0DEERE & CO
    
    
    75
    
    
    Shares of Common Stock
    
    
    6,229
 20




---



##### 



WILLIS NORTH AMERICA, INC.
401(K) RETIREMENT SAVINGS PLAN
Employer Identification Number  13-5654526
 FORM 5500, SCHEDULE H, PART 1V, LINE 4i  SCHEDULE OF ASSETS (HELD AT END OF YEAR)
DECEMBER 31, 2010
 Description of investmentincluding maturity date, rate ofinterest, collateral, par, orIdentity of issue, borrower, lessor, or similar party
    
    
    
    
    
    maturity value
    
    Current ValueDELL INC
    
    
    50
    
    
    Shares of Common Stock
    
    
    678DELL INC
    
    
    200
    
    
    Shares of Common Stock
    
    
    2,710DELL INC
    
    
    140
    
    
    Shares of Common Stock
    
    
    1,897DELL INC
    
    
    100
    
    
    Shares of Common Stock
    
    
    1,355DELL INC
    
    
    500
    
    
    Shares of Common Stock
    
    
    6,775DELL INC
    
    
    100
    
    
    Shares of Common Stock
    
    
    1,355DELL INC
    
    
    15
    
    
    Shares of Common Stock
    
    
    203DEVL DIVERSIFIED RLTY REIT
    
    
    205
    
    
    Shares of Common Stock
    
    
    2,895DEVON ENERGY CP NEW
    
    
    1,008
    
    
    Shares of Common Stock
    
    
    79,103DHT HOLDINGS INC XXXCASH M
    
    
    200
    
    
    Shares of Common Stock
    
    
    930DIREXION SHARES ETF NEW WITH S
    
    
    200
    
    
    Shares of Common Stock
    
    
    5,569DIREXION SHS EXCH TRD FDDAILY
    
    
    200
    
    
    Shares of Common Stock
    
    
    3,122DIREXION SHS EXCH TRD FDDAILY
    
    
    100
    
    
    Shares of Common Stock
    
    
    1,801DISNEY WALT CO
    
    
    200
    
    
    Shares of Common Stock
    
    
    7,502DISNEY WALT CO
    
    
    65
    
    
    Shares of Common Stock
    
    
    2,438DISNEY WALT CO
    
    
    109
    
    
    Shares of Common Stock
    
    
    4,094DITEM EXPLORATION INC F
    
    
    1,000
    
    
    Shares of Common Stock
    
    
    121DOLLAR GENERAL CORP NEW ** PEN
    
    
    250
    
    
    Shares of Common Stock
    
    
    7,668DORCHESTER MINERALS LP
    
    
    400
    
    
    Shares of Common Stock
    
    
    10,988DOT HILL SYSTEMS CORP
    
    
    5,000
    
    
    Shares of Common Stock
    
    
    8,750DOW CHEMICAL COMPANY
    
    
    210
    
    
    Shares of Common Stock
    
    
    7,169DRYSHIPS INC F** PEN
    
    
    100
    
    
    Shares of Common Stock
    
    
    549DU PONT E I DE NEMOUR&CO
    
    
    101
    
    
    Shares of Common Stock
    
    
    5,029DU PONT E I DE NEMOUR&CO
    
    
    50
    
    
    Shares of Common Stock
    
    
    2,494DUKE ENERGY CORP NEW
    
    
    300
    
    
    Shares of Common Stock
    
    
    5,343DUKE ENERGY CORP NEW
    
    
    100
    
    
    Shares of Common Stock
    
    
    1,781DUKE ENERGY CORP NEW
    
    
    2,560
    
    
    Shares of Common Stock
    
    
    45,594E C U SILVER MINING INCF
    
    
    5,000
    
    
    Shares of Common Stock
    
    
    6,743E M C CORP MASS
    
    
    420
    
    
    Shares of Common Stock
    
    
    9,618E M C CORP MASS
    
    
    14
    
    
    Shares of Common Stock
    
    
    321E M C CORP MASS
    
    
    175
    
    
    Shares of Common Stock
    
    
    4,008EARTHLINK INC
    
    
    100
    
    
    Shares of Common Stock
    
    
    860EASTMAN KODAK COMPANY
    
    
    111
    
    
    Shares of Common Stock
    
    
    596EBAY INC
    
    
    100
    
    
    Shares of Common Stock
    
    
    2,783ECHELON CORPORATION
    
    
    180
    
    
    Shares of Common Stock
    
    
    1,834EDDIE BAUER HOLDINGS XXXBANKRU
    
    
    5,000
    
    
    Shares of Common Stock
    
    
    0EDWARDS LIFESCIENCES CP
    
    
    80
    
    
    Shares of Common Stock
    
    
    6,467EGA EMERGING GLOBAL ETF CONSUM
    
    
    1,500
    
    
    Shares of Common Stock
    
    
    34,965EGA EMERGING GLOBAL ETF INDXX
    
    
    100
    
    
    Shares of Common Stock
    
    
    2,093ELAN CORP PLC SPON ADR FSPONSO
    
    
    3,300
    
    
    Shares of Common Stock
    
    
    18,909ELECTROGLAS CORP
    
    
    400
    
    
    Shares of Common Stock
    
    
    2EMDEON INC ** PEN
    
    
    800
    
    
    Shares of Common Stock
    
    
    10,832EMERSON ELECTRIC CO
    
    
    308
    
    
    Shares of Common Stock
    
    
    17,618ENDEAVOUR INTL CORP NEW
    
    
    2,858
    
    
    Shares of Common Stock
    
    
    39,440ENDURANCE SPECALTY HLDGF
    
    
    100
    
    
    Shares of Common Stock
    
    
    4,607ENRON CORP XXXBANKRU
    
    
    1,400
    
    
    Shares of Common Stock
    
    
    0ENTEGRIS INC DUTCH
    
    
    1,000
    
    
    Shares of Common Stock
    
    
    7,470ENTERPRISE PRD PRTNRS LP
    
    
    270
    
    
    Shares of Common Stock
    
    
    11,235ENTERPRISE PRD PRTNRS LP
    
    
    275
    
    
    Shares of Common Stock
    
    
    11,443ENTMNT GAMING ASIA INC
    
    
    1,000
    
    
    Shares of Common Stock
    
    
    360ERICSSON TEL ADR B NEW FCL B S
    
    
    120
    
    
    Shares of Common Stock
    
    
    1,384E-TRADE FINANCIAL CP NEW
    
    
    2,000
    
    
    Shares of Common Stock
    
    
    32,000EUROMAX RESOURCES LTD F
    
    
    55,000
    
    
    Shares of Common Stock
    
    
    15,774EVOLVING SYSTEMS INC NEW
    
    
    1,000
    
    
    Shares of Common Stock
    
    
    8,320EWORLD COMPANIES INC NEW
    
    
    625,000
    
    
    Shares of Common Stock
    
    
    63EXACT SCIENCES CORP
    
    
    10,000
    
    
    Shares of Common Stock
    
    
    59,800EXELIXIS INC
    
    
    2,500
    
    
    Shares of Common Stock
    
    
    20,525EXELON CORPORATION
    
    
    208
    
    
    Shares of Common Stock
    
    
    8,644EXELON CORPORATION
    
    
    300
    
    
    Shares of Common Stock
    
    
    12,492EXPO HOLDING INC
    
    
    33,500
    
    
    Shares of Common Stock
    
    
    7EXXON MOBIL CORPORATION
    
    
    300
    
    
    Shares of Common Stock
    
    
    21,936EXXON MOBIL CORPORATION
    
    
    1
    
    
    Shares of Common Stock
    
    
    67EXXON MOBIL CORPORATION
    
    
    139
    
    
    Shares of Common Stock
    
    
    10,134EXXON MOBIL CORPORATION
    
    
    195
    
    
    Shares of Common Stock
    
    
    14,289EXXON MOBIL CORPORATION
    
    
    10
    
    
    Shares of Common Stock
    
    
    731EXXON MOBIL CORPORATION
    
    
    3
    
    
    Shares of Common Stock
    
    
    186F5 NETWORKS INC
    
    
    30
    
    
    Shares of Common Stock
    
    
    3,905
 21




---



##### 



WILLIS NORTH AMERICA, INC.
401(K) RETIREMENT SAVINGS PLAN
Employer Identification Number  13-5654526
 FORM 5500, SCHEDULE H, PART 1V, LINE 4i  SCHEDULE OF ASSETS (HELD AT END OF YEAR)
DECEMBER 31, 2010
 Description of investmentincluding maturity date, rate ofinterest, collateral, par, orIdentity of issue, borrower, lessor, or similar party
    
    
    
    
    
    maturity value
    
    Current ValueFAIRPOINT COMMUN INC ** PEN
    
    
    1
    
    
    Shares of Common Stock
    
    
    0FALCON OIL & GAS LTD F
    
    
    80,000
    
    
    Shares of Common Stock
    
    
    12,480FASTENAL CO
    
    
    25
    
    
    Shares of Common Stock
    
    
    1,498FASTENAL CO
    
    
    60
    
    
    Shares of Common Stock
    
    
    3,595FIDELITY NATL FINL INC CLASS
    
    
    420
    
    
    Shares of Common Stock
    
    
    5,746FIFTH THIRD BANCORP
    
    
    100
    
    
    Shares of Common Stock
    
    
    1,468FIFTH THIRD BANCORP
    
    
    500
    
    
    Shares of Common Stock
    
    
    7,340FINISH LINE INC CL A
    
    
    1,531
    
    
    Shares of Common Stock
    
    
    26,318FIRST STATE BANCORP NM
    
    
    10,000
    
    
    Shares of Common Stock
    
    
    500FIRST TR BICK INDEX ETF EMERGI
    
    
    517
    
    
    Shares of Common Stock
    
    
    16,989FLAMEL TECH SA ADR FSPONSO
    
    
    1,000
    
    
    Shares of Common Stock
    
    
    6,840FORD MOTOR COMPANY NEW TENDER
    
    
    180
    
    
    Shares of Common Stock
    
    
    3,022FORD MOTOR COMPANY NEW TENDER
    
    
    200
    
    
    Shares of Common Stock
    
    
    3,358FORD MOTOR COMPANY NEW TENDER
    
    
    225
    
    
    Shares of Common Stock
    
    
    3,780FORD MOTOR COMPANY NEW TENDER
    
    
    1,000
    
    
    Shares of Common Stock
    
    
    16,790FORD MOTOR COMPANY NEW TENDER
    
    
    13
    
    
    Shares of Common Stock
    
    
    218FORTRESS INVESTMENT GP ** PEN
    
    
    300
    
    
    Shares of Common Stock
    
    
    1,710FOUNTAIN HEALTHY AGING
    
    
    7,500
    
    
    Shares of Common Stock
    
    
    8FREEPORT MCMORAN COPPER
    
    
    152
    
    
    Shares of Common Stock
    
    
    18,194FREEPORT MCMORAN COPPER
    
    
    50
    
    
    Shares of Common Stock
    
    
    6,005FREIGHTCAR AMERICA INC ** PEN
    
    
    403
    
    
    Shares of Common Stock
    
    
    11,669FRONTIER COMMUNICATIONS
    
    
    500
    
    
    Shares of Common Stock
    
    
    4,865FRONTIER COMMUNICATIONS
    
    
    15
    
    
    Shares of Common Stock
    
    
    146FRONTIER COMMUNICATIONS
    
    
    24
    
    
    Shares of Common Stock
    
    
    234FRONTIER OIL CORP
    
    
    50
    
    
    Shares of Common Stock
    
    
    901FUTURELINK CORP NEW TRADIN
    
    
    18
    
    
    Shares of Common Stock
    
    
    0GASCO ENERGY INC
    
    
    1,500
    
    
    Shares of Common Stock
    
    
    525GENERAL ELECTRIC COMPANY
    
    
    280
    
    
    Shares of Common Stock
    
    
    5,121GENERAL ELECTRIC COMPANY
    
    
    1,000
    
    
    Shares of Common Stock
    
    
    18,290GENERAL ELECTRIC COMPANY
    
    
    500
    
    
    Shares of Common Stock
    
    
    9,145GENERAL ELECTRIC COMPANY
    
    
    300
    
    
    Shares of Common Stock
    
    
    5,487GENERAL ELECTRIC COMPANY
    
    
    500
    
    
    Shares of Common Stock
    
    
    9,145GENERAL ELECTRIC COMPANY
    
    
    536
    
    
    Shares of Common Stock
    
    
    9,805GENERAL ELECTRIC COMPANY
    
    
    208
    
    
    Shares of Common Stock
    
    
    3,804GENERAL ELECTRIC COMPANY
    
    
    1,487
    
    
    Shares of Common Stock
    
    
    27,194GENERAL ELECTRIC COMPANY
    
    
    576
    
    
    Shares of Common Stock
    
    
    10,544GENERAL ELECTRIC COMPANY
    
    
    400
    
    
    Shares of Common Stock
    
    
    7,316GENERAL ELECTRIC COMPANY
    
    
    67
    
    
    Shares of Common Stock
    
    
    1,231GENERAL ELECTRIC COMPANY
    
    
    1,019
    
    
    Shares of Common Stock
    
    
    18,633GENERAL ELECTRIC COMPANY
    
    
    400
    
    
    Shares of Common Stock
    
    
    7,316GENERAL ELECTRIC COMPANY
    
    
    45
    
    
    Shares of Common Stock
    
    
    823GENERAL ELECTRIC COMPANY
    
    
    103
    
    
    Shares of Common Stock
    
    
    1,876GENERAL ELECTRIC COMPANY
    
    
    57
    
    
    Shares of Common Stock
    
    
    1,038GENERAL GROWTH PPTYS NEW
    
    
    10,099
    
    
    Shares of Common Stock
    
    
    156,333GENERAL MILLS INC
    
    
    80
    
    
    Shares of Common Stock
    
    
    2,847GENERAL MILLS INC
    
    
    55
    
    
    Shares of Common Stock
    
    
    1,966GENERAL MOTORS CO ** PEN
    
    
    100
    
    
    Shares of Common Stock
    
    
    3,686GENERAL MOTORS CO ** PEN
    
    
    1,000
    
    
    Shares of Common Stock
    
    
    36,860GENERAL MOTORS CO ** PEN
    
    
    250
    
    
    Shares of Common Stock
    
    
    9,215GENSPERA INC
    
    
    75
    
    
    Shares of Common Stock
    
    
    154GETTY REALTY CORP NEW REIT
    
    
    265
    
    
    Shares of Common Stock
    
    
    8,285GLAXOSMITHKLINE PLC ADRFSPONSO
    
    
    300
    
    
    Shares of Common Stock
    
    
    11,766GLOBAL ALUMINA CORP FDUTCH
    
    
    11,000
    
    
    Shares of Common Stock
    
    
    16,280GLOBAL PEOPLELINE TELECO
    
    
    3
    
    
    Shares of Common Stock
    
    
    0GOLD CANYON RES INC F
    
    
    5,250
    
    
    Shares of Common Stock
    
    
    12,047GOLD CANYON RES INC F
    
    
    10,000
    
    
    Shares of Common Stock
    
    
    22,946GOLD CANYON RES INC F
    
    
    15,000
    
    
    Shares of Common Stock
    
    
    34,419GOLD FIELDS LTD NEW ADRFSPONSO
    
    
    477
    
    
    Shares of Common Stock
    
    
    8,648GOLDCORP INC NEW FEXCHAN
    
    
    32
    
    
    Shares of Common Stock
    
    
    1,471GOLDEN STAR RES LTD CDAF
    
    
    2,000
    
    
    Shares of Common Stock
    
    
    9,180GOLDMAN SACHS GROUP INC
    
    
    35
    
    
    Shares of Common Stock
    
    
    5,927GOOGLE INC ** PEN
    
    
    11
    
    
    Shares of Common Stock
    
    
    6,534GOOGLE INC ** PEN
    
    
    10
    
    
    Shares of Common Stock
    
    
    5,940GOOGLE INC ** PEN
    
    
    10
    
    
    Shares of Common Stock
    
    
    5,940GOOGLE INC ** PEN
    
    
    10
    
    
    Shares of Common Stock
    
    
    5,940GOOGLE INC ** PEN
    
    
    5
    
    
    Shares of Common Stock
    
    
    2,970GRANDE PORTAGE RES LTD F
    
    
    75,000
    
    
    Shares of Common Stock
    
    
    10,193
 22




---



##### 



WILLIS NORTH AMERICA, INC.
401(K) RETIREMENT SAVINGS PLAN
Employer Identification Number  13-5654526
 FORM 5500, SCHEDULE H, PART 1V, LINE 4i  SCHEDULE OF ASSETS (HELD AT END OF YEAR)
DECEMBER 31, 2010
 Description of investmentincluding maturity date, rate ofinterest, collateral, par, orIdentity of issue, borrower, lessor, or similar party
    
    
    
    
    
    maturity value
    
    Current ValueGREEN EARTH TECHS INC
    
    
    5,000
    
    
    Shares of Common Stock
    
    
    1,750GREENLAND MIN & EGY ORDF
    
    
    10,000
    
    
    Shares of Common Stock
    
    
    12,249GUGGENHEIM EXCH TRD FD BRIC E
    
    
    159
    
    
    Shares of Common Stock
    
    
    7,343GULF RESOURCES INC NEW
    
    
    1,713
    
    
    Shares of Common Stock
    
    
    18,312GULF RESOURCES INC NEW
    
    
    225
    
    
    Shares of Common Stock
    
    
    2,405HAIN CELESTIAL GROUP INC
    
    
    100
    
    
    Shares of Common Stock
    
    
    2,706HALLIBURTON CO HLDG CO EXCHAN
    
    
    760
    
    
    Shares of Common Stock
    
    
    31,031HARD TO TREAT DISEASES
    
    
    42,000
    
    
    Shares of Common Stock
    
    
    8HATTERAS FINANCIAL CORP ** PEN
    
    
    634
    
    
    Shares of Common Stock
    
    
    19,183HDFC BANK LIMITED ADR FSPONSO
    
    
    50
    
    
    Shares of Common Stock
    
    
    8,356HEALTH CARE REIT INC REIT
    
    
    130
    
    
    Shares of Common Stock
    
    
    6,193HEALTHSOUTH CORP NEW
    
    
    680
    
    
    Shares of Common Stock
    
    
    14,083HECLA MINING COMPANY
    
    
    450
    
    
    Shares of Common Stock
    
    
    5,067HELICOS BIOSCIENCES CORP** PEN
    
    
    520
    
    
    Shares of Common Stock
    
    
    61HERBALIFE LTD F** PEN
    
    
    65
    
    
    Shares of Common Stock
    
    
    4,444HERCULES OFFSHORE INC ** PEN
    
    
    2,000
    
    
    Shares of Common Stock
    
    
    6,960HERSHEY COMPANY
    
    
    24
    
    
    Shares of Common Stock
    
    
    1,154HESS CORPORATION
    
    
    45
    
    
    Shares of Common Stock
    
    
    3,444HEWLETT-PACKARD COMPANY
    
    
    500
    
    
    Shares of Common Stock
    
    
    21,050HEWLETT-PACKARD COMPANY
    
    
    100
    
    
    Shares of Common Stock
    
    
    4,210HEWLETT-PACKARD COMPANY
    
    
    140
    
    
    Shares of Common Stock
    
    
    5,900HOME DEPOT INC TENDER
    
    
    200
    
    
    Shares of Common Stock
    
    
    7,012HOME DEPOT INC TENDER
    
    
    150
    
    
    Shares of Common Stock
    
    
    5,259HOMEOWNERS CHOICE INC
    
    
    1,000
    
    
    Shares of Common Stock
    
    
    8,080HUDSON CITY BANCORP INC
    
    
    500
    
    
    Shares of Common Stock
    
    
    6,370HUDSON CITY BANCORP INC
    
    
    100
    
    
    Shares of Common Stock
    
    
    1,274IAMGOLD CORPORATION FEXCHAN
    
    
    500
    
    
    Shares of Common Stock
    
    
    8,900ICON PLC SPON ADR FSPONSO
    
    
    200
    
    
    Shares of Common Stock
    
    
    4,380IMAGING DIAGNOSTIC SYS
    
    
    21,000
    
    
    Shares of Common Stock
    
    
    840IMAX CORP F
    
    
    800
    
    
    Shares of Common Stock
    
    
    22,456IMPACT SILVER CORP F
    
    
    1,000
    
    
    Shares of Common Stock
    
    
    1,751INGERSOLL RAND CL A NEWFIRELAN
    
    
    28
    
    
    Shares of Common Stock
    
    
    1,312INOVIO PHARMACEUTICALS
    
    
    1,000
    
    
    Shares of Common Stock
    
    
    1,150INTEL CORP
    
    
    100
    
    
    Shares of Common Stock
    
    
    2,103INTEL CORP
    
    
    100
    
    
    Shares of Common Stock
    
    
    2,103INTEL CORP
    
    
    1,000
    
    
    Shares of Common Stock
    
    
    21,030INTEL CORP
    
    
    500
    
    
    Shares of Common Stock
    
    
    10,515INTEL CORP
    
    
    118
    
    
    Shares of Common Stock
    
    
    2,474INTEL CORP
    
    
    117
    
    
    Shares of Common Stock
    
    
    2,462INTEL CORP
    
    
    300
    
    
    Shares of Common Stock
    
    
    6,309INTEL CORP
    
    
    188
    
    
    Shares of Common Stock
    
    
    3,955INTELLIGENT COMM ENT NEW
    
    
    2,618
    
    
    Shares of Common Stock
    
    
    131INTERCONTINENTALEXCHANGE** PEN
    
    
    15
    
    
    Shares of Common Stock
    
    
    1,787INTERDIGITAL INC
    
    
    165
    
    
    Shares of Common Stock
    
    
    6,871INTERIORS INC CL A
    
    
    25,709
    
    
    Shares of Common Stock
    
    
    26INTERPHARM HOLDINGS INC
    
    
    1,000
    
    
    Shares of Common Stock
    
    
    13INTL BUSINESS MACHINES
    
    
    46
    
    
    Shares of Common Stock
    
    
    6,751INTL BUSINESS MACHINES
    
    
    25
    
    
    Shares of Common Stock
    
    
    3,669INTL BUSINESS MACHINES
    
    
    250
    
    
    Shares of Common Stock
    
    
    36,690INTL BUSINESS MACHINES
    
    
    164
    
    
    Shares of Common Stock
    
    
    24,098INTL BUSINESS MACHINES
    
    
    27
    
    
    Shares of Common Stock
    
    
    3,994INTL BUSINESS MACHINES
    
    
    20
    
    
    Shares of Common Stock
    
    
    2,935INTUITIVE SURGICAL NEW
    
    
    8
    
    
    Shares of Common Stock
    
    
    2,062INTUITIVE SURGICAL NEW
    
    
    10
    
    
    Shares of Common Stock
    
    
    2,578INVESCO CONSTELLATION FD CL A
    
    
    998
    
    
    Shares of Common Stock
    
    
    23,247INVESCO CONSTELLATION FD CL A
    
    
    1,245
    
    
    Shares of Common Stock
    
    
    29,005IQ HEDGE MAC TRACKER ETFMACRO
    
    
    385
    
    
    Shares of Common Stock
    
    
    10,603IRELAND BANK ADR FSPONSO
    
    
    4,000
    
    
    Shares of Common Stock
    
    
    10,600ISCO INTERNATIONAL INXXXBANKRU
    
    
    53,770
    
    
    Shares of Common Stock
    
    
    0ISHARES MSCI BRAZIL INDXBRAZIL
    
    
    80
    
    
    Shares of Common Stock
    
    
    6,192ISHARES MSCI BRAZIL INDXBRAZIL
    
    
    114
    
    
    Shares of Common Stock
    
    
    8,824ISHARES MSCI BRAZIL INDXBRAZIL
    
    
    400
    
    
    Shares of Common Stock
    
    
    30,960ISHARES MSCI EMRG MKT FDWITH S
    
    
    177
    
    
    Shares of Common Stock
    
    
    8,440ISHARES MSCI EMRG MKT FDWITH S
    
    
    40
    
    
    Shares of Common Stock
    
    
    1,906ISHARES MSCI EMRG MKT FDWITH S
    
    
    550
    
    
    Shares of Common Stock
    
    
    26,214ISHARES MSCI ETF ALL PE
    
    
    100
    
    
    Shares of Common Stock
    
    
    5,036ISHARES MSCI GRMNY IDX GERMAN
    
    
    702
    
    
    Shares of Common Stock
    
    
    16,806
 23




---



##### 



WILLIS NORTH AMERICA, INC.
401(K) RETIREMENT SAVINGS PLAN
Employer Identification Number  13-5654526
 FORM 5500, SCHEDULE H, PART 1V, LINE 4i  SCHEDULE OF ASSETS (HELD AT END OF YEAR)
DECEMBER 31, 2010
 Description of investmentincluding maturity date, rate ofinterest, collateral, par, orIdentity of issue, borrower, lessor, or similar party
    
    
    
    
    
    maturity value
    
    Current ValueISHARES MSCI MALAYSIA MALAYS
    
    
    637
    
    
    Shares of Common Stock
    
    
    9,165ISHARES MSCI SWEDEN IDX SWEDEN
    
    
    280
    
    
    Shares of Common Stock
    
    
    8,744ISHARES MSCI VAL IDX FD
    
    
    135
    
    
    Shares of Common Stock
    
    
    6,866ISHARES RUSSELL MIDCAP WITH S
    
    
    175
    
    
    Shares of Common Stock
    
    
    9,907ISHARES S&P GLOBAL S&P GL
    
    
    709
    
    
    Shares of Common Stock
    
    
    11,229ISHARES
S&P MIDCAP 400 S&P MI
    
    
    123
    
    
    Shares of Common Stock
    
    
    9,743ISHARES
S&P SMALLCAP 600S&P SM
    
    
    136
    
    
    Shares of Common Stock
    
    
    9,798ISHARES
S&P SMALLCAP 600S&P SM
    
    
    67
    
    
    Shares of Common Stock
    
    
    4,864ISHARES S&P U S PFD FUNDS&P U
    
    
    256
    
    
    Shares of Common Stock
    
    
    9,933ISHARES SILVER TRUST INDEX
    
    
    150
    
    
    Shares of Common Stock
    
    
    4,527ISHARES SILVER TRUST INDEX
    
    
    350
    
    
    Shares of Common Stock
    
    
    10,563ISHARES TR BARCLAYS TIPSBOND F
    
    
    45
    
    
    Shares of Common Stock
    
    
    4,838ISHARES TR BARCLAYS TIPSBOND F
    
    
    45
    
    
    Shares of Common Stock
    
    
    4,838ISHARES TR BARCLAYS TIPSBOND F
    
    
    342
    
    
    Shares of Common Stock
    
    
    36,772ISHARES TR DJ US INDL US IND
    
    
    1,030
    
    
    Shares of Common Stock
    
    
    67,362ISHARES TR LEHMAN BD FD LEHMAN
    
    
    42
    
    
    Shares of Common Stock
    
    
    3,549ISHARES TR MSCI EAFE FD WITH S
    
    
    120
    
    
    Shares of Common Stock
    
    
    6,989ISHARES TR MSCI EAFE FD WITH S
    
    
    313
    
    
    Shares of Common Stock
    
    
    18,198ISHARES TR RUSSELL 1000 RUSSEL
    
    
    1,966
    
    
    Shares of Common Stock
    
    
    112,573ISHARES TR RUSSELL 2000 RUSSEL
    
    
    150
    
    
    Shares of Common Stock
    
    
    13,147ISHARES TR S&P SMALLCAP WITH S
    
    
    150
    
    
    Shares of Common Stock
    
    
    10,277ISHARES TRUST IBOXX
    
    
    66
    
    
    Shares of Common Stock
    
    
    5,959ISHARES TRUST INDEX FUNDWITH S
    
    
    225
    
    
    Shares of Common Stock
    
    
    9,695ISHARES TRUST INDEX FUNDWITH S
    
    
    514
    
    
    Shares of Common Stock
    
    
    22,148ISHARES TRUST MSCI E
    
    
    192
    
    
    Shares of Common Stock
    
    
    8,093ISHARES
TRUST S&P 500 S&P 50
    
    
    69
    
    
    Shares of Common Stock
    
    
    8,711ISHARES
TRUST S&P 500 S&P 50
    
    
    50
    
    
    Shares of Common Stock
    
    
    6,313ISHARES TRUST S&P GL
    
    
    302
    
    
    Shares of Common Stock
    
    
    10,576ISIS PHARMACEUTICALS INC
    
    
    600
    
    
    Shares of Common Stock
    
    
    6,072ITC HOLDINGS CORP ** PEN
    
    
    140
    
    
    Shares of Common Stock
    
    
    8,677JABIL CIRCUIT INC
    
    
    250
    
    
    Shares of Common Stock
    
    
    5,023JABIL CIRCUIT INC
    
    
    0
    
    
    Shares of Common Stock
    
    
    0JADE ART GROUP INC NEW
    
    
    45,000
    
    
    Shares of Common Stock
    
    
    7,875JDS UNIPHASE CORP NEW
    
    
    2
    
    
    Shares of Common Stock
    
    
    29JDS UNIPHASE CORP NEW
    
    
    176
    
    
    Shares of Common Stock
    
    
    2,548JEDI MIND INC
    
    
    10,000
    
    
    Shares of Common Stock
    
    
    96JOHNSON & JOHNSON
    
    
    200
    
    
    Shares of Common Stock
    
    
    12,370JOHNSON & JOHNSON
    
    
    1
    
    
    Shares of Common Stock
    
    
    74JPMORGAN CHASE & CO
    
    
    175
    
    
    Shares of Common Stock
    
    
    7,424JPMORGAN CHASE & CO
    
    
    65
    
    
    Shares of Common Stock
    
    
    2,756K V PHARMACEUTICAL CL A
    
    
    4,200
    
    
    Shares of Common Stock
    
    
    10,710KANSAS CITY SOUTHERN
    
    
    300
    
    
    Shares of Common Stock
    
    
    14,358KBR INC ** PEN
    
    
    55
    
    
    Shares of Common Stock
    
    
    1,676KINDER MORGAN ENERGY LP UNIT L
    
    
    60
    
    
    Shares of Common Stock
    
    
    4,216KINDER MORGAN ENERGY LP UNIT L
    
    
    128
    
    
    Shares of Common Stock
    
    
    8,970KINDER MORGAN MGMT LLC
    
    
    245
    
    
    Shares of Common Stock
    
    
    16,393KINDER MORGAN MGMT LLC
    
    
    1,150
    
    
    Shares of Common Stock
    
    
    76,917KRAFT FOODS INC EXCHAN
    
    
    207
    
    
    Shares of Common Stock
    
    
    6,523KRAFT FOODS INC EXCHAN
    
    
    274
    
    
    Shares of Common Stock
    
    
    8,640KRAFT FOODS INC EXCHAN
    
    
    35
    
    
    Shares of Common Stock
    
    
    1,110KRISPY KREME DOUGHNUT CP
    
    
    500
    
    
    Shares of Common Stock
    
    
    3,490L INTERNATIONAL COMPUTERTRADIN
    
    
    200
    
    
    Shares of Common Stock
    
    
    0L-1 IDENTITY SOLUTIONS
    
    
    200
    
    
    Shares of Common Stock
    
    
    2,382LAB CP OF AMER HLDG NEW
    
    
    400
    
    
    Shares of Common Stock
    
    
    35,168LADISH CO NEW
    
    
    100
    
    
    Shares of Common Stock
    
    
    4,862LAS VEGAS SANDS CORP ** PEN
    
    
    145
    
    
    Shares of Common Stock
    
    
    6,663LEVEL 3 COMMUNICATIONS
    
    
    1,500
    
    
    Shares of Common Stock
    
    
    1,470LIGHTBRIDGE CORP
    
    
    517
    
    
    Shares of Common Stock
    
    
    2,771LILLY ELI & COMPANY ODDLOT
    
    
    300
    
    
    Shares of Common Stock
    
    
    10,512LIMITED BRANDS INC TENDER
    
    
    141
    
    
    Shares of Common Stock
    
    
    4,344LONGTOP FINL TECH ADS F** PEN
    
    
    250
    
    
    Shares of Common Stock
    
    
    9,045LOWES COMPANIES INC
    
    
    205
    
    
    Shares of Common Stock
    
    
    5,129LOWES COMPANIES INC
    
    
    209
    
    
    Shares of Common Stock
    
    
    5,253LSI CORPORATION
    
    
    4
    
    
    Shares of Common Stock
    
    
    24LSI CORPORATION
    
    
    10
    
    
    Shares of Common Stock
    
    
    60LSI CORPORATION
    
    
    2
    
    
    Shares of Common Stock
    
    
    12M D U RESOURCES GROUP
    
    
    529
    
    
    Shares of Common Stock
    
    
    10,723
 24




---



##### 



WILLIS NORTH AMERICA, INC.
401(K) RETIREMENT SAVINGS PLAN
Employer Identification Number  13-5654526
 FORM 5500, SCHEDULE H, PART 1V, LINE 4i  SCHEDULE OF ASSETS (HELD AT END OF YEAR)
DECEMBER 31, 2010
 Description of investmentincluding maturity date, rate ofinterest, collateral, par, orIdentity of issue, borrower, lessor, or similar party
    
    
    
    
    
    maturity value
    
    Current ValueMAGELLAN MIDSTREAM PTNRS
    
    
    150
    
    
    Shares of Common Stock
    
    
    8,475MARKEL CORP HOLDIN
    
    
    40
    
    
    Shares of Common Stock
    
    
    15,125MARKET VECTORS ETF ** PEN
    
    
    30
    
    
    Shares of Common Stock
    
    
    1,730MARKET VECTORS ETF TRUSTGOLD M
    
    
    1,043
    
    
    Shares of Common Stock
    
    
    64,103MARSH & MC LENNAN CO INC
    
    
    46
    
    
    Shares of Common Stock
    
    
    1,258MASTERCARD INC ** PEN
    
    
    10
    
    
    Shares of Common Stock
    
    
    2,241MATTEL INCORPORATED
    
    
    259
    
    
    Shares of Common Stock
    
    
    6,589MC DONALDS CORP EXCHAN
    
    
    2
    
    
    Shares of Common Stock
    
    
    161MCG CAPITAL CORP
    
    
    7,450
    
    
    Shares of Common Stock
    
    
    51,927MEADOWBROOK INSURANCE GP
    
    
    107
    
    
    Shares of Common Stock
    
    
    1,101MEDCOHEALTH SOLUTIONS ODDLOT
    
    
    150
    
    
    Shares of Common Stock
    
    
    9,191MEDCOHEALTH SOLUTIONS ODDLOT
    
    
    62
    
    
    Shares of Common Stock
    
    
    3,799MEDTRONIC INC
    
    
    200
    
    
    Shares of Common Stock
    
    
    7,418MEGA URANIUM LTD 12 WTSFWARRAN
    
    
    1,500
    
    
    Shares of Common Stock
    
    
    272MEGA URANIUM LTD F
    
    
    14,000
    
    
    Shares of Common Stock
    
    
    15,358MELA SCIENCES INC
    
    
    1,094
    
    
    Shares of Common Stock
    
    
    3,665MELCO PBL ENTMT LTD ADRF**PEND
    
    
    650
    
    
    Shares of Common Stock
    
    
    4,134MELCO PBL ENTMT LTD ADRF**PEND
    
    
    10,000
    
    
    Shares of Common Stock
    
    
    63,600MERCK & CO INC NEW
    
    
    1,000
    
    
    Shares of Common Stock
    
    
    36,040MERCK & CO INC NEW
    
    
    351
    
    
    Shares of Common Stock
    
    
    12,668MERCK & CO INC NEW
    
    
    27
    
    
    Shares of Common Stock
    
    
    973MERCK & CO INC NEW
    
    
    31
    
    
    Shares of Common Stock
    
    
    1,134METANOR RESOURCES F
    
    
    1,000
    
    
    Shares of Common Stock
    
    
    448METANOR RESOURCES F
    
    
    2,500
    
    
    Shares of Common Stock
    
    
    1,120METANOR RESOURCES F
    
    
    5,000
    
    
    Shares of Common Stock
    
    
    2,239METLIFE INC
    
    
    345
    
    
    Shares of Common Stock
    
    
    15,332METRICOM INC NEW ^XXBANKRU
    
    
    100
    
    
    Shares of Common Stock
    
    
    0MGM MIRAGE TENDER
    
    
    200
    
    
    Shares of Common Stock
    
    
    2,970MGM MIRAGE TENDER
    
    
    42
    
    
    Shares of Common Stock
    
    
    624MICROSOFT CORP DUTCH
    
    
    100
    
    
    Shares of Common Stock
    
    
    2,791MICROSOFT CORP DUTCH
    
    
    1
    
    
    Shares of Common Stock
    
    
    15MICROSOFT CORP DUTCH
    
    
    400
    
    
    Shares of Common Stock
    
    
    11,164MICROSOFT CORP DUTCH
    
    
    55
    
    
    Shares of Common Stock
    
    
    1,540MICROSOFT CORP DUTCH
    
    
    3,700
    
    
    Shares of Common Stock
    
    
    103,267MICROSOFT CORP DUTCH
    
    
    1,000
    
    
    Shares of Common Stock
    
    
    27,910MICROSOFT CORP DUTCH
    
    
    100
    
    
    Shares of Common Stock
    
    
    2,791MICROSOFT CORP DUTCH
    
    
    1,200
    
    
    Shares of Common Stock
    
    
    33,492MICROSOFT CORP DUTCH
    
    
    1
    
    
    Shares of Common Stock
    
    
    24MICROSOFT CORP DUTCH
    
    
    600
    
    
    Shares of Common Stock
    
    
    16,746MICROSOFT CORP DUTCH
    
    
    225
    
    
    Shares of Common Stock
    
    
    6,275MICROSOFT CORP DUTCH
    
    
    300
    
    
    Shares of Common Stock
    
    
    8,373MICROSOFT CORP DUTCH
    
    
    0
    
    
    Shares of Common Stock
    
    
    2MICROSOFT CORP DUTCH
    
    
    60
    
    
    Shares of Common Stock
    
    
    1,675MICROSOFT CORP DUTCH
    
    
    160
    
    
    Shares of Common Stock
    
    
    4,466MICROSOFT CORP DUTCH
    
    
    112
    
    
    Shares of Common Stock
    
    
    3,137MICROSOFT CORP DUTCH
    
    
    225
    
    
    Shares of Common Stock
    
    
    6,275MIDDLEBY CORP THE
    
    
    100
    
    
    Shares of Common Stock
    
    
    8,442MILLENNIUM CELL INC
    
    
    5,000
    
    
    Shares of Common Stock
    
    
    1MIPS TECHNOLOGIES
    
    
    500
    
    
    Shares of Common Stock
    
    
    7,585MOLSON COORS BREWING CLB
    
    
    14
    
    
    Shares of Common Stock
    
    
    703MONSANTO CO NEW DEL
    
    
    1,000
    
    
    Shares of Common Stock
    
    
    69,640MONTPELIER RE HLDGS LTD
    
    
    25,000
    
    
    Shares of Common Stock
    
    
    26,010MONTPELIER RE HLDGS LTDF
    
    
    109
    
    
    Shares of Common Stock
    
    
    2,164MORGAN STANLEY
    
    
    3,822
    
    
    Shares of Common Stock
    
    
    103,992MOSAIC COMPANY
    
    
    150
    
    
    Shares of Common Stock
    
    
    11,454MOSAIC COMPANY
    
    
    85
    
    
    Shares of Common Stock
    
    
    6,491MOTOROLA INCORPORATED ODDLOT
    
    
    211
    
    
    Shares of Common Stock
    
    
    1,910MOTORS LIQUIDATION CO
    
    
    118
    
    
    Shares of Common Stock
    
    
    11MULTIMEDIA GAMES INC DUTCH
    
    
    1,000
    
    
    Shares of Common Stock
    
    
    5,580MYLAN LABORATORIES INC DUTCH
    
    
    500
    
    
    Shares of Common Stock
    
    
    10,565NAM TAI ELECTRONICS NEWF
    
    
    2,000
    
    
    Shares of Common Stock
    
    
    12,800NATL SCIENTIFIC CORP
    
    
    250
    
    
    Shares of Common Stock
    
    
    3NESTLE S A REG B ADR F1 ADR
    
    
    25
    
    
    Shares of Common Stock
    
    
    1,468NETAPP INC
    
    
    95
    
    
    Shares of Common Stock
    
    
    5,221NETFLIX INC
    
    
    15
    
    
    Shares of Common Stock
    
    
    2,636NETSOL TECHNOLOGIES NEW
    
    
    750
    
    
    Shares of Common Stock
    
    
    1,403NEW GOLD INC CDA 12 WTSFWARRAN
    
    
    7,000
    
    
    Shares of Common Stock
    
    
    634
 25




---



##### 



WILLIS NORTH AMERICA, INC.
401(K) RETIREMENT SAVINGS PLAN
Employer Identification Number  13-5654526
 FORM 5500, SCHEDULE H, PART 1V, LINE 4i  SCHEDULE OF ASSETS (HELD AT END OF YEAR)
DECEMBER 31, 2010
 Description of investmentincluding maturity date, rate ofinterest, collateral, par, orIdentity of issue, borrower, lessor, or similar party
    
    
    
    
    
    maturity value
    
    Current ValueNIKE INC CLASS B
    
    
    50
    
    
    Shares of Common Stock
    
    
    4,271NN INC
    
    
    3,019
    
    
    Shares of Common Stock
    
    
    37,315NORDIC AMERN TANKR SHPGF
    
    
    217
    
    
    Shares of Common Stock
    
    
    5,638NORTEL NETWORKS CP NEW F
    
    
    100
    
    
    Shares of Common Stock
    
    
    1NORTH AMERN DATACOM INC
    
    
    1,000
    
    
    Shares of Common Stock
    
    
    0NOVAMED INC NEW
    
    
    133
    
    
    Shares of Common Stock
    
    
    1,533NOVARTIS A G SPON ADR FSPONSO
    
    
    175
    
    
    Shares of Common Stock
    
    
    10,316NUCOR CORP
    
    
    311
    
    
    Shares of Common Stock
    
    
    13,611NUTRACEUTICAL INTL CORP
    
    
    100
    
    
    Shares of Common Stock
    
    
    1,419NUVEEN FLTG RATE INCM FD
    
    
    120
    
    
    Shares of Common Stock
    
    
    1,417NVIDIA CORP
    
    
    100
    
    
    Shares of Common Stock
    
    
    1,540NYSE EURONEXT N V
    
    
    200
    
    
    Shares of Common Stock
    
    
    5,996OAKWOOD HOMES CORP NEW TRADIN
    
    
    200
    
    
    Shares of Common Stock
    
    
    0OBN HOLDINGS INC NEW
    
    
    200
    
    
    Shares of Common Stock
    
    
    11OCCIDENTAL PETE CORP
    
    
    29
    
    
    Shares of Common Stock
    
    
    2,845OMEGA NAV ENTERPRISES AF** PEN
    
    
    9,500
    
    
    Shares of Common Stock
    
    
    12,160OMNICARE INC
    
    
    69
    
    
    Shares of Common Stock
    
    
    1,750OMNICOM GROUP INC
    
    
    25
    
    
    Shares of Common Stock
    
    
    1,145ORACLE CORPORATION
    
    
    200
    
    
    Shares of Common Stock
    
    
    6,260ORACLE CORPORATION
    
    
    102
    
    
    Shares of Common Stock
    
    
    3,178ORACLE CORPORATION
    
    
    102
    
    
    Shares of Common Stock
    
    
    3,178ORACLE CORPORATION
    
    
    81
    
    
    Shares of Common Stock
    
    
    2,542OSHKOSH CORP
    
    
    175
    
    
    Shares of Common Stock
    
    
    6,167OXUS GOLD PLC WEF ORD F
    
    
    202,700
    
    
    Shares of Common Stock
    
    
    17,128P I C O HOLDINGS INC NEW
    
    
    30
    
    
    Shares of Common Stock
    
    
    954PALADIN ENERGY LTD ORD FCANADI
    
    
    1,000
    
    
    Shares of Common Stock
    
    
    5,053PAN AMERICAN SILVER CP F
    
    
    200
    
    
    Shares of Common Stock
    
    
    8,242PANERA BREAD CO CL A
    
    
    35
    
    
    Shares of Common Stock
    
    
    3,542PARAMOUNT GOLD AND SILVRTRADIN
    
    
    10,000
    
    
    Shares of Common Stock
    
    
    39,900PATRIOT COAL CORP
    
    
    1,500
    
    
    Shares of Common Stock
    
    
    29,055PATRIOT NATL BANCORP INC
    
    
    3,300
    
    
    Shares of Common Stock
    
    
    6,930PAYCHEX INC
    
    
    212
    
    
    Shares of Common Stock
    
    
    6,560PCCW LIMITED NEW ORD F
    
    
    180
    
    
    Shares of Common Stock
    
    
    80PEPSICO INCORPORATED
    
    
    200
    
    
    Shares of Common Stock
    
    
    13,066PEPSICO INCORPORATED
    
    
    22
    
    
    Shares of Common Stock
    
    
    1,413PETROLEO BRASILEIRO ADRFSA PET
    
    
    35
    
    
    Shares of Common Stock
    
    
    1,324PFIZER INCORPORATED ODDLOT
    
    
    150
    
    
    Shares of Common Stock
    
    
    2,627PFIZER INCORPORATED ODDLOT
    
    
    600
    
    
    Shares of Common Stock
    
    
    10,506PFIZER INCORPORATED ODDLOT
    
    
    300
    
    
    Shares of Common Stock
    
    
    5,253PFIZER INCORPORATED ODDLOT
    
    
    66
    
    
    Shares of Common Stock
    
    
    1,156PFIZER INCORPORATED ODDLOT
    
    
    110
    
    
    Shares of Common Stock
    
    
    1,933PFIZER INCORPORATED ODDLOT
    
    
    25
    
    
    Shares of Common Stock
    
    
    438PFIZER INCORPORATED ODDLOT
    
    
    450
    
    
    Shares of Common Stock
    
    
    7,880PFIZER INCORPORATED ODDLOT
    
    
    136
    
    
    Shares of Common Stock
    
    
    2,384PHILIP MORRIS INTL INC
    
    
    300
    
    
    Shares of Common Stock
    
    
    17,559PHILIP MORRIS INTL INC
    
    
    23
    
    
    Shares of Common Stock
    
    
    1,317PHILLIPS-VAN HEUSEN CORP
    
    
    35
    
    
    Shares of Common Stock
    
    
    2,205PHOTRONICS INC
    
    
    500
    
    
    Shares of Common Stock
    
    
    2,955PIMCO CORPORATE OPPTY FD
    
    
    265
    
    
    Shares of Common Stock
    
    
    4,504PIMCO EXCH TRADED FUND 15+ YR
    
    
    492
    
    
    Shares of Common Stock
    
    
    26,740PIMCO EXCH TRADED FUND ENHANC
    
    
    167
    
    
    Shares of Common Stock
    
    
    16,819PINETREE CAPITAL NEW F
    
    
    1,500
    
    
    Shares of Common Stock
    
    
    6,250PINNACLE AIRLINES CORP  PEN
    
    
    150
    
    
    Shares of Common Stock
    
    
    1,185PIPER JAFFRAY COS NEW ODDLOT
    
    
    1
    
    
    Shares of Common Stock
    
    
    35PLAINS ALL AMERN PPLN LPUNIT L
    
    
    140
    
    
    Shares of Common Stock
    
    
    8,791PLAINS ALL AMERN PPLN LPUNIT L
    
    
    200
    
    
    Shares of Common Stock
    
    
    12,558PLUG POWER INC
    
    
    125
    
    
    Shares of Common Stock
    
    
    46PLUM CREEK TIMBER CO REIT
    
    
    200
    
    
    Shares of Common Stock
    
    
    7,490POWERSHARES GLOBAL WATER** PEN
    
    
    400
    
    
    Shares of Common Stock
    
    
    7,596POWERSHRS DB AGRICULTRE DOUBLE
    
    
    400
    
    
    Shares of Common Stock
    
    
    5,628POWERSHS DB COMMDTY INDX
    
    
    711
    
    
    Shares of Common Stock
    
    
    19,588POWERSHS DB MULTI SECTORPOWERS
    
    
    220
    
    
    Shares of Common Stock
    
    
    11,992POWERSHS DB US DOLLAR TRINDEX
    
    
    175
    
    
    Shares of Common Stock
    
    
    4,743POWERSHS EXCH TRAD FD TRDYNAMI
    
    
    114
    
    
    Shares of Common Stock
    
    
    2,471POWERSHS EXCH TRAD FD TRDYNAMI
    
    
    308
    
    
    Shares of Common Stock
    
    
    4,973POWERSHS EXCH TRAD FD TRDYNAMI
    
    
    1,600
    
    
    Shares of Common Stock
    
    
    29,648POWERSHS EXCH TRAD FD TRPOWERS
    
    
    443
    
    
    Shares of Common Stock
    
    
    5,956
 26




---



##### 



WILLIS NORTH AMERICA, INC.
401(K) RETIREMENT SAVINGS PLAN
Employer Identification Number  13-5654526
 FORM 5500, SCHEDULE H, PART 1V, LINE 4i  SCHEDULE OF ASSETS (HELD AT END OF YEAR)
DECEMBER 31, 2010
 Description of investmentincluding maturity date, rate ofinterest, collateral, par, orIdentity of issue, borrower, lessor, or similar party
    
    
    
    
    
    maturity value
    
    Current ValuePOWERSHS EXCH TRAD FD TRPREFER
    
    
    4,000
    
    
    Shares of Common Stock
    
    
    56,480POWERSHS EXCH TRAD FD TRPREFER
    
    
    6,000
    
    
    Shares of Common Stock
    
    
    84,720POWERSHS QQQ TRUST SER 1
    
    
    130
    
    
    Shares of Common Stock
    
    
    7,080POWERSHS QQQ TRUST SER 1
    
    
    320
    
    
    Shares of Common Stock
    
    
    17,452PRECISION CASTPARTS CORP
    
    
    30
    
    
    Shares of Common Stock
    
    
    4,176PRECISION DRILLING CORPF
    
    
    965
    
    
    Shares of Common Stock
    
    
    9,351PRICELINE.COM INC NEW
    
    
    
    
    
    Shares of Common Stock
    
    
    0PRICELINE.COM INC NEW
    
    
    15
    
    
    Shares of Common Stock
    
    
    5,993PROCTER & GAMBLE EXCHAN
    
    
    40
    
    
    Shares of Common Stock
    
    
    2,573PROCTER & GAMBLE EXCHAN
    
    
    105
    
    
    Shares of Common Stock
    
    
    6,780PROCTER & GAMBLE EXCHAN
    
    
    24
    
    
    Shares of Common Stock
    
    
    1,561PROSHARES TRUST ETF ULTRAS
    
    
    4,800
    
    
    Shares of Common Stock
    
    
    177,792PROSHARES TRUST ETF ULTRAS
    
    
    5,000
    
    
    Shares of Common Stock
    
    
    185,200PROSHS ULTRASHORT DJ AIG** PEN
    
    
    200
    
    
    Shares of Common Stock
    
    
    2,034PROSHS
ULTRASHRT S&P 500 PROSHA
    
    
    350
    
    
    Shares of Common Stock
    
    
    8,316PROXIM CORP CL A NEW CLASS
    
    
    15
    
    
    Shares of Common Stock
    
    
    0PUMA EXPLORATION INC F
    
    
    2,750
    
    
    Shares of Common Stock
    
    
    830PUMA EXPLORATION INC F
    
    
    3,900
    
    
    Shares of Common Stock
    
    
    1,177QUALCOMM INC
    
    
    200
    
    
    Shares of Common Stock
    
    
    9,898QUALCOMM INC
    
    
    340
    
    
    Shares of Common Stock
    
    
    16,827QUALCOMM INC
    
    
    90
    
    
    Shares of Common Stock
    
    
    4,454QUALMARK CORP
    
    
    400
    
    
    Shares of Common Stock
    
    
    80R F MICRO DEVICES INC
    
    
    1,000
    
    
    Shares of Common Stock
    
    
    7,350RAMBUS INC DEL
    
    
    484
    
    
    Shares of Common Stock
    
    
    9,912RANGE RESOURCES CORP
    
    
    100
    
    
    Shares of Common Stock
    
    
    4,498RARE ELEMENT RESOURCES F
    
    
    500
    
    
    Shares of Common Stock
    
    
    8,030RAYTHEON COMPANY NEW ODD LO
    
    
    369
    
    
    Shares of Common Stock
    
    
    17,105REALNETWORKS INC
    
    
    2,000
    
    
    Shares of Common Stock
    
    
    8,400REALTY INCOME CORP REIT
    
    
    200
    
    
    Shares of Common Stock
    
    
    6,840REDHAWK RESOURCES INC F
    
    
    2,000
    
    
    Shares of Common Stock
    
    
    1,671RELIANCE STL & ALUMINUM
    
    
    1,415
    
    
    Shares of Common Stock
    
    
    72,286RESEARCH IN MOTION LTD F
    
    
    100
    
    
    Shares of Common Stock
    
    
    5,813RITE AID CORPORATION
    
    
    4,000
    
    
    Shares of Common Stock
    
    
    3,533RITE AID CORPORATION
    
    
    100
    
    
    Shares of Common Stock
    
    
    88ROCKWELL AUTOMATION INC
    
    
    9
    
    
    Shares of Common Stock
    
    
    645ROCKWELL COLLINS INC
    
    
    9
    
    
    Shares of Common Stock
    
    
    524ROVI CORPORATION
    
    
    76
    
    
    Shares of Common Stock
    
    
    4,713ROVI CORPORATION
    
    
    85
    
    
    Shares of Common Stock
    
    
    5,271ROWE T PRICE GROUP INC
    
    
    120
    
    
    Shares of Common Stock
    
    
    7,745RYDEX ETF TRUST AUSTRA
    
    
    15
    
    
    Shares of Common Stock
    
    
    1,540S P D R
S&P 500 ETF TR EXPIRI
    
    
    345
    
    
    Shares of Common Stock
    
    
    43,384SALESFORCE COM ** PEN
    
    
    65
    
    
    Shares of Common Stock
    
    
    8,580SALESFORCE COM ** PEN
    
    
    45
    
    
    Shares of Common Stock
    
    
    5,940SANDSTORM RES 14 WTSFWARRAN
    
    
    4,000
    
    
    Shares of Common Stock
    
    
    1,610SANGUINE CORP NEW
    
    
    200
    
    
    Shares of Common Stock
    
    
    54SAUER DANFOSS INC
    
    
    1,304
    
    
    Shares of Common Stock
    
    
    36,838SCHEIN HENRY INC
    
    
    120
    
    
    Shares of Common Stock
    
    
    7,367SCHW INTL EQ ETF
    
    
    356
    
    
    Shares of Common Stock
    
    
    9,858SCHW US BRD MKT ETF
    
    
    351
    
    
    Shares of Common Stock
    
    
    10,676SCHW US LCAP GRO ETF
    
    
    351
    
    
    Shares of Common Stock
    
    
    10,576SCHW US LCAP VAL ETF
    
    
    352
    
    
    Shares of Common Stock
    
    
    9,951SCHW US SCAP ETF
    
    
    351
    
    
    Shares of Common Stock
    
    
    12,049SCOR ADR FSPONSO
    
    
    1,000
    
    
    Shares of Common Stock
    
    
    2,549SEABRIDGE GOLD INC F
    
    
    350
    
    
    Shares of Common Stock
    
    
    10,738SEACOAST BK CORP FLA COMMON
    
    
    100
    
    
    Shares of Common Stock
    
    
    146SEALED AIR CORP NEW
    
    
    108
    
    
    Shares of Common Stock
    
    
    2,760SECTOR SPDR ENGY SELECT SHARES
    
    
    1
    
    
    Shares of Common Stock
    
    
    68SECTOR SPDR FINCL SELECTSHARES
    
    
    511
    
    
    Shares of Common Stock
    
    
    8,154SECTOR SPDR FINCL SELECTSHARES
    
    
    351
    
    
    Shares of Common Stock
    
    
    5,602SEVEN SEAS PETE NEW ORDFTRADIN
    
    
    2,000
    
    
    Shares of Common Stock
    
    
    0SHOREHAM RESOURCES LTD F
    
    
    9,000
    
    
    Shares of Common Stock
    
    
    3,442SIEMENS A G ADR F1 ADR
    
    
    25
    
    
    Shares of Common Stock
    
    
    3,106SIEMENS A G ADR F1 ADR
    
    
    200
    
    
    Shares of Common Stock
    
    
    24,850SILGAN HOLDINGS INC TENDER
    
    
    100
    
    
    Shares of Common Stock
    
    
    3,575SILICON GRAPHICS INC XXXBANKRU
    
    
    1,000
    
    
    Shares of Common Stock
    
    
    0SILVER WHEATON CORP F
    
    
    111
    
    
    Shares of Common Stock
    
    
    4,333SILVER WHEATON CORP F
    
    
    277
    
    
    Shares of Common Stock
    
    
    10,814
 27




---



##### 



WILLIS NORTH AMERICA, INC.
401(K) RETIREMENT SAVINGS PLAN
Employer Identification Number  13-5654526
 FORM 5500, SCHEDULE H, PART 1V, LINE 4i  SCHEDULE OF ASSETS (HELD AT END OF YEAR)
DECEMBER 31, 2010
 Description of investmentincluding maturity date, rate ofinterest, collateral, par, orIdentity of issue, borrower, lessor, or similar party
    
    
    
    
    
    maturity value
    
    Current ValueSILVER WHEATON CORP F
    
    
    500
    
    
    Shares of Common Stock
    
    
    19,520SILVERCORP METALS INC F
    
    
    250
    
    
    Shares of Common Stock
    
    
    3,208SINO GAS INTL HLDGS
    
    
    450
    
    
    Shares of Common Stock
    
    
    176SIRIUS XM RADIO INC
    
    
    10,000
    
    
    Shares of Common Stock
    
    
    16,301SIRIUS XM RADIO INC
    
    
    100
    
    
    Shares of Common Stock
    
    
    163SIRIUS XM RADIO INC
    
    
    100
    
    
    Shares of Common Stock
    
    
    163SIRIUS XM RADIO INC
    
    
    5,000
    
    
    Shares of Common Stock
    
    
    8,151SIRIUS XM RADIO INC
    
    
    169
    
    
    Shares of Common Stock
    
    
    275SIRIUS XM RADIO INC
    
    
    2,000
    
    
    Shares of Common Stock
    
    
    3,260SMAVE SOLUTIONS INC
    
    
    12
    
    
    Shares of Common Stock
    
    
    0SMAVE SOLUTIONS INC
    
    
    3
    
    
    Shares of Common Stock
    
    
    0SMITH & WESSON HLDG CORP
    
    
    628
    
    
    Shares of Common Stock
    
    
    2,349SODASTREAM INTL ORD F** PEN
    
    
    50
    
    
    Shares of Common Stock
    
    
    1,579SOLAR CAPITAL LTD ** PEN
    
    
    4,000
    
    
    Shares of Common Stock
    
    
    99,120SONICBLUE INC
    
    
    700
    
    
    Shares of Common Stock
    
    
    1SONY CORP ADR NEW F1 ADR
    
    
    100
    
    
    Shares of Common Stock
    
    
    3,571SOUTHERN COPPER CORP
    
    
    99
    
    
    Shares of Common Stock
    
    
    4,812SOUTHWEST AIRLINES CO
    
    
    100
    
    
    Shares of Common Stock
    
    
    1,298SOUTHWEST AIRLINES CO
    
    
    50
    
    
    Shares of Common Stock
    
    
    649SOUTHWEST AIRLINES CO
    
    
    500
    
    
    Shares of Common Stock
    
    
    6,490SOUTHWEST AIRLINES CO
    
    
    967
    
    
    Shares of Common Stock
    
    
    12,553SPDR GOLD TRUST SPDR G
    
    
    110
    
    
    Shares of Common Stock
    
    
    15,259SPDR GOLD TRUST SPDR G
    
    
    65
    
    
    Shares of Common Stock
    
    
    9,017SPDR GOLD TRUST SPDR G
    
    
    350
    
    
    Shares of Common Stock
    
    
    48,552SPDR GOLD TRUST SPDR G
    
    
    30
    
    
    Shares of Common Stock
    
    
    4,162SPDR GOLD TRUST SPDR G
    
    
    100
    
    
    Shares of Common Stock
    
    
    13,872SPDR GOLD TRUST SPDR G
    
    
    1
    
    
    Shares of Common Stock
    
    
    139SPDR INDEX SHARES FUND S&P EM
    
    
    995
    
    
    Shares of Common Stock
    
    
    56,725SPDR KBW BANK ETF
    
    
    1,118
    
    
    Shares of Common Stock
    
    
    28,967SPDR S&P CHINA ETF
    
    
    254
    
    
    Shares of Common Stock
    
    
    19,367SPDR S&P DIVIDEND ETF
    
    
    770
    
    
    Shares of Common Stock
    
    
    40,025SPDR S&P DIVIDEND ETF
    
    
    906
    
    
    Shares of Common Stock
    
    
    47,094SPECTRA ENERGY CORP
    
    
    150
    
    
    Shares of Common Stock
    
    
    3,749SPECTRA ENERGY CORP
    
    
    50
    
    
    Shares of Common Stock
    
    
    1,250SPECTRA ENERGY CORP
    
    
    1,280
    
    
    Shares of Common Stock
    
    
    31,987SPECTRASCIENCE INC NEW
    
    
    4,576
    
    
    Shares of Common Stock
    
    
    549SPONGETECH DELIVERY SYS TRADIN
    
    
    1,000
    
    
    Shares of Common Stock
    
    
    0SPONGETECH DELIVERY SYS TRADIN
    
    
    35,525
    
    
    Shares of Common Stock
    
    
    4SPONGETECH DELIVERY SYS TRADIN
    
    
    700,000
    
    
    Shares of Common Stock
    
    
    70SPROTT PHYS GLD TR ETN F
    
    
    1,000
    
    
    Shares of Common Stock
    
    
    12,345STAR SCIENTIFIC INC
    
    
    550
    
    
    Shares of Common Stock
    
    
    1,073STARBUCKS CORP
    
    
    164
    
    
    Shares of Common Stock
    
    
    5,273STARBUCKS CORP
    
    
    105
    
    
    Shares of Common Stock
    
    
    3,374STERICYCLE INC
    
    
    60
    
    
    Shares of Common Stock
    
    
    4,855STERIS CORP
    
    
    250
    
    
    Shares of Common Stock
    
    
    9,115STEWART ENTERPRISES CL A
    
    
    223
    
    
    Shares of Common Stock
    
    
    1,491STRATEGIC MINING CORP
    
    
    83
    
    
    Shares of Common Stock
    
    
    12STRATEGIC RESOURCES LTD
    
    
    2,500
    
    
    Shares of Common Stock
    
    
    18SUNCOR ENERGY INC NEW F
    
    
    580
    
    
    Shares of Common Stock
    
    
    22,208SUNESIS PHARMACEUTICALS ** PEN
    
    
    200
    
    
    Shares of Common Stock
    
    
    104SUNTECH POWER HLDGS CO ** PEN
    
    
    47
    
    
    Shares of Common Stock
    
    
    376SUNTRUST BANKS INC
    
    
    200
    
    
    Shares of Common Stock
    
    
    5,902SUPERVALU INC
    
    
    75
    
    
    Shares of Common Stock
    
    
    722SUREBEAM CORP TRADIN
    
    
    600
    
    
    Shares of Common Stock
    
    
    0SYMMETRY MEDICAL INC ** PEN
    
    
    195
    
    
    Shares of Common Stock
    
    
    1,804SYNOVUS FINANCIAL CORP
    
    
    2,400
    
    
    Shares of Common Stock
    
    
    6,336SYNTEL INC
    
    
    2,000
    
    
    Shares of Common Stock
    
    
    95,600SYSCO CORPORATION
    
    
    104
    
    
    Shares of Common Stock
    
    
    3,066SYSCO CORPORATION
    
    
    100
    
    
    Shares of Common Stock
    
    
    2,940T J X COS INC
    
    
    110
    
    
    Shares of Common Stock
    
    
    4,898T R C COMPANIES INC
    
    
    105
    
    
    Shares of Common Stock
    
    
    368TANZANIAN ROYALTY EXPL F
    
    
    3,000
    
    
    Shares of Common Stock
    
    
    21,900TARGET CORPORATION
    
    
    680
    
    
    Shares of Common Stock
    
    
    40,912TELE NORTE LESTE ADR FSPONSO
    
    
    1,400
    
    
    Shares of Common Stock
    
    
    20,580TELLABS INC
    
    
    3,982
    
    
    Shares of Common Stock
    
    
    26,999TEMPLETON GLOBAL INCM FD
    
    
    1,000
    
    
    Shares of Common Stock
    
    
    10,700THE SOUTHERN COMPANY
    
    
    240
    
    
    Shares of Common Stock
    
    
    9,175
 28




---



##### 



WILLIS NORTH AMERICA, INC.
401(K) RETIREMENT SAVINGS PLAN
Employer Identification Number  13-5654526
 FORM 5500, SCHEDULE H, PART 1V, LINE 4i  SCHEDULE OF ASSETS (HELD AT END OF YEAR)
DECEMBER 31, 2010
 Description of investmentincluding maturity date, rate ofinterest, collateral, par, orIdentity of issue, borrower, lessor, or similar party
    
    
    
    
    
    maturity value
    
    Current ValueTHE SOUTHERN COMPANY
    
    
    76
    
    
    Shares of Common Stock
    
    
    2,894THOMPSON CREEK METALS F
    
    
    750
    
    
    Shares of Common Stock
    
    
    11,040TIANRONG BLDG MAT HLDGS
    
    
    1,000
    
    
    Shares of Common Stock
    
    
    0TIM HORTONS INC ** PEN
    
    
    352
    
    
    Shares of Common Stock
    
    
    14,527TIME WARNER CABLE INC.
    
    
    8
    
    
    Shares of Common Stock
    
    
    528TIME WARNER CABLE INC.
    
    
    25
    
    
    Shares of Common Stock
    
    
    1,651TIME WARNER CABLE INC.
    
    
    8
    
    
    Shares of Common Stock
    
    
    528TIME WARNER INC.
    
    
    33
    
    
    Shares of Common Stock
    
    
    1,062TIME WARNER INC.
    
    
    100
    
    
    Shares of Common Stock
    
    
    3,217TIME WARNER INC.
    
    
    37
    
    
    Shares of Common Stock
    
    
    1,180TOTAL S A ADR F1 ADR
    
    
    170
    
    
    Shares of Common Stock
    
    
    9,092TRANSCANADA CORP F
    
    
    250
    
    
    Shares of Common Stock
    
    
    9,510TRANSOCEAN INC NEW F
    
    
    200
    
    
    Shares of Common Stock
    
    
    13,902TRANSOCEAN INC NEW F
    
    
    175
    
    
    Shares of Common Stock
    
    
    12,164TRANSOCEAN INC NEW F
    
    
    4
    
    
    Shares of Common Stock
    
    
    278TRANSWITCH CORP NEW
    
    
    125
    
    
    Shares of Common Stock
    
    
    273TRAVELCENTERS OF AMERICA LLC CO
    
    
    1,500
    
    
    Shares of Common Stock
    
    
    5,655TRENWICK GROUP LTD ORD F
    
    
    700
    
    
    Shares of Common Stock
    
    
    0TRINITY INDUSTRIES INC
    
    
    200
    
    
    Shares of Common Stock
    
    
    5,322TRUEBLUE INC
    
    
    150
    
    
    Shares of Common Stock
    
    
    2,699TRUSTCO BANK CORP N Y
    
    
    100
    
    
    Shares of Common Stock
    
    
    634TYCO ELECTRONICS LTD F
    
    
    9
    
    
    Shares of Common Stock
    
    
    333TYCO INTL LTD NEW F
    
    
    500
    
    
    Shares of Common Stock
    
    
    20,720TYCO INTL LTD NEW F
    
    
    28
    
    
    Shares of Common Stock
    
    
    1,160TYCO INTL LTD NEW F
    
    
    9
    
    
    Shares of Common Stock
    
    
    387U S BANCORP DEL NEW
    
    
    100
    
    
    Shares of Common Stock
    
    
    2,697U S G CORPORATION NEW
    
    
    330
    
    
    Shares of Common Stock
    
    
    5,554U308 CORP F
    
    
    1,738
    
    
    Shares of Common Stock
    
    
    1,802UNILEVER PLC ADR NEW FWITH S
    
    
    225
    
    
    Shares of Common Stock
    
    
    6,948UNITED CONTL HLDGS INC
    
    
    105
    
    
    Shares of Common Stock
    
    
    2,501UNITED CONTL HLDGS INC
    
    
    84
    
    
    Shares of Common Stock
    
    
    2,001UNITED PARCEL SERVICE B CLASS
    
    
    180
    
    
    Shares of Common Stock
    
    
    13,069UNITED RENTALS INC DUTCH
    
    
    1,647
    
    
    Shares of Common Stock
    
    
    37,469UNITED TECHNOLOGIES CORP
    
    
    239
    
    
    Shares of Common Stock
    
    
    18,826URANERZ ENERGY CORP
    
    
    600
    
    
    Shares of Common Stock
    
    
    2,394US BIOTEC INC NEW
    
    
    196
    
    
    Shares of Common Stock
    
    
    0USA FLORAL PRODS INC ^XXBANKRU
    
    
    400
    
    
    Shares of Common Stock
    
    
    0V C A ANTECH INC
    
    
    250
    
    
    Shares of Common Stock
    
    
    5,823VALE SA ADR FSPONSO
    
    
    250
    
    
    Shares of Common Stock
    
    
    8,643VALERO ENERGY CORP NEW
    
    
    400
    
    
    Shares of Common Stock
    
    
    9,248VANGUARD BOND INDEX FUNDTOTAL
    
    
    763
    
    
    Shares of Common Stock
    
    
    61,246VANGUARD DIV APPRCIATION
    
    
    679
    
    
    Shares of Common Stock
    
    
    35,736VANGUARD DIV APPRCIATION
    
    
    570
    
    
    Shares of Common Stock
    
    
    29,999VANGUARD EMERGING MARKET
    
    
    200
    
    
    Shares of Common Stock
    
    
    9,629VANGUARD EMERGING MARKET
    
    
    44
    
    
    Shares of Common Stock
    
    
    2,106VANGUARD EMERGING MARKET
    
    
    656
    
    
    Shares of Common Stock
    
    
    31,595VANGUARD GROWTH
    
    
    1,156
    
    
    Shares of Common Stock
    
    
    71,026VANGUARD INTL EQTY INDEXFTSE A
    
    
    380
    
    
    Shares of Common Stock
    
    
    18,137VANGUARD REIT
    
    
    1,095
    
    
    Shares of Common Stock
    
    
    60,630VANGUARD REIT
    
    
    740
    
    
    Shares of Common Stock
    
    
    40,974VANGUARD SMALL CAP GRWTH
    
    
    327
    
    
    Shares of Common Stock
    
    
    25,542VANGUARD TOTAL STOCK MKTSTK MK
    
    
    850
    
    
    Shares of Common Stock
    
    
    55,191VANGUARD TOTAL STOCK MKTSTK MK
    
    
    118
    
    
    Shares of Common Stock
    
    
    7,645VERIZON COMMUNICATIONS
    
    
    125
    
    
    Shares of Common Stock
    
    
    4,473VERIZON COMMUNICATIONS
    
    
    300
    
    
    Shares of Common Stock
    
    
    10,734VERIZON COMMUNICATIONS
    
    
    200
    
    
    Shares of Common Stock
    
    
    7,156VERIZON COMMUNICATIONS
    
    
    67
    
    
    Shares of Common Stock
    
    
    2,404VERIZON COMMUNICATIONS
    
    
    1,000
    
    
    Shares of Common Stock
    
    
    35,780VERIZON COMMUNICATIONS
    
    
    100
    
    
    Shares of Common Stock
    
    
    3,578VESTA INSURANCE GROUP
    
    
    216
    
    
    Shares of Common Stock
    
    
    0VESTAS WIND SYS A/S ADRF1 ADR
    
    
    2,000
    
    
    Shares of Common Stock
    
    
    21,114VIE FINANCIAL GROUP NEW
    
    
    15
    
    
    Shares of Common Stock
    
    
    0VIROPHARMA INC
    
    
    350
    
    
    Shares of Common Stock
    
    
    6,062VISA INC ** PEN
    
    
    200
    
    
    Shares of Common Stock
    
    
    14,076VISA INC ** PEN
    
    
    200
    
    
    Shares of Common Stock
    
    
    14,076VISHAY INTERTECHNOLOGY
    
    
    2,510
    
    
    Shares of Common Stock
    
    
    36,847VISHAY INTERTECHNOLOGY
    
    
    400
    
    
    Shares of Common Stock
    
    
    5,872
 29




---



##### 



WILLIS NORTH AMERICA, INC.
401(K) RETIREMENT SAVINGS PLAN
Employer Identification Number  13-5654526
 FORM 5500, SCHEDULE H, PART 1V, LINE 4i  SCHEDULE OF ASSETS (HELD AT END OF YEAR)
DECEMBER 31, 2010
 Description of investmentincluding maturity date, rate ofinterest, collateral, par, orIdentity of issue, borrower, lessor, or similar party
    
    
    
    
    
    maturity value
    
    Current ValueVISHAY PRECISION GROUP
    
    
    28
    
    
    Shares of Common Stock
    
    
    528VIVUS INC
    
    
    250
    
    
    Shares of Common Stock
    
    
    2,343VMWARE INC ** PEN
    
    
    40
    
    
    Shares of Common Stock
    
    
    3,556VODAFONE GROUP NEW ADR FSPONSO
    
    
    300
    
    
    Shares of Common Stock
    
    
    7,932WABCO HOLDINGS INC.
    
    
    39
    
    
    Shares of Common Stock
    
    
    2,376WAL-MART STORES INC
    
    
    274
    
    
    Shares of Common Stock
    
    
    14,765WAL-MART STORES INC
    
    
    250
    
    
    Shares of Common Stock
    
    
    13,483WAL-MART STORES INC
    
    
    11
    
    
    Shares of Common Stock
    
    
    614WAL-MART STORES INC
    
    
    14
    
    
    Shares of Common Stock
    
    
    733WALTER INVESTMENT MANAGEMENT CORP.
    
    
    2,185
    
    
    Shares of Common Stock
    
    
    39,203WASTE MANAGEMENT INC DEL
    
    
    105
    
    
    Shares of Common Stock
    
    
    3,855WASTE MANAGEMENT INC DEL
    
    
    500
    
    
    Shares of Common Stock
    
    
    18,435WATSCO INC
    
    
    100
    
    
    Shares of Common Stock
    
    
    6,308WEATHERFORD INTL LTD F
    
    
    150
    
    
    Shares of Common Stock
    
    
    3,420WELLS FARGO & CO NEW
    
    
    13
    
    
    Shares of Common Stock
    
    
    403WESTERN COPPER CORP F
    
    
    80
    
    
    Shares of Common Stock
    
    
    214WESTERN REFINING INC ** PEN
    
    
    59
    
    
    Shares of Common Stock
    
    
    621WESTERN UNION COMPANY
    
    
    302
    
    
    Shares of Common Stock
    
    
    5,612WESTERN WATER CO ^XXBANKRU
    
    
    1,000
    
    
    Shares of Common Stock
    
    
    0WEYERHAEUSER CO TENDER
    
    
    150
    
    
    Shares of Common Stock
    
    
    2,840WILLIAMS COMPANIES
    
    
    2,046
    
    
    Shares of Common Stock
    
    
    50,583WISDOMTREE DEFA EQUITY INCOME
    
    
    99
    
    
    Shares of Common Stock
    
    
    4,057WISDOMTREE EMERGING ETF MKTS L
    
    
    312
    
    
    Shares of Common Stock
    
    
    16,228WISDOMTREE EQUITY INC FDHI YIE
    
    
    147
    
    
    Shares of Common Stock
    
    
    5,721WISDOMTREE INDIA EARNING
    
    
    663
    
    
    Shares of Common Stock
    
    
    17,497WISDOMTREE MIDCAP DIVDNDMIDCAP
    
    
    46
    
    
    Shares of Common Stock
    
    
    2,331WISDOMTREE SMALLCAP DIV SMALLC
    
    
    104
    
    
    Shares of Common Stock
    
    
    4,932WISDOMTREE TRUST ** PEN
    
    
    40
    
    
    Shares of Common Stock
    
    
    2,417WYNN RESORTS
    
    
    40
    
    
    Shares of Common Stock
    
    
    4,154WYNN RESORTS
    
    
    100
    
    
    Shares of Common Stock
    
    
    10,384XEROX CORP
    
    
    250
    
    
    Shares of Common Stock
    
    
    2,880XEROX CORP
    
    
    211
    
    
    Shares of Common Stock
    
    
    2,433XEROX CORP
    
    
    100
    
    
    Shares of Common Stock
    
    
    1,152XL GROUP PLC F
    
    
    700
    
    
    Shares of Common Stock
    
    
    15,274XL GROUP PLC F
    
    
    3,050
    
    
    Shares of Common Stock
    
    
    66,551YAMANA GOLD INC F
    
    
    550
    
    
    Shares of Common Stock
    
    
    7,040YAMANA GOLD INC F
    
    
    2,000
    
    
    Shares of Common Stock
    
    
    25,600YORA INTL INC NEW
    
    
    275
    
    
    Shares of Common Stock
    
    
    0ZION OIL & GAS INC ** PEN
    
    
    1,100
    
    
    Shares of Common Stock
    
    
    5,258ZIONS BANCORP
    
    
    501
    
    
    Shares of Common Stock
    
    
    12,128ZIX CORPORATION
    
    
    20
    
    
    Shares of Common Stock
    
    
    85ZORAN CORP NEW
    
    
    1,000
    
    
    Shares of Common Stock
    
    
    8,800Total
    
    
    
    
    
    
    
    
    9,266,882Guaranteed investment contractsWILLIS STABLE VALUE FUND
    
    
    
    
    
    Group Annuity Insurance Contracts
    
    
    92,453,451TFLIC STABLE 5 FUND
    
    
    
    
    
    Group Annuity Insurance Contracts
    
    
    49,551,138Total
    
    
    
    
    
    
    
    
    142,004,589Money Market FundsSCHWAB MONEY MARKET FUND
    
    
    
    
    
    Money Market
    
    
    3,609,727Total
    
    
    
    
    
    
    
    
    3,609,727Other Financial AssetsALLY BANK 1.45%11CD FDI
    
    
    23,000
    
    
    Corporate Bonds
    
    
    23,064AMER INTL GROUP5.375%11NOTES
    
    
    20,000
    
    
    Corporate Bonds
    
    
    20,550AMERICAN EX CEN 1.7%11CD FDI
    
    
    30,000
    
    
    Corporate Bonds
    
    
    30,286BARCLAYS BANK N 3.2%14CD FDI
    
    
    50,000
    
    
    Corporate Bonds
    
    
    51,956BLOCK FINANCIAL 7.875%13NOTES
    
    
    23,000
    
    
    Corporate Bonds
    
    
    24,158BMW NORTH AMER B 1.7%11CD FDI
    
    
    40,000
    
    
    Corporate Bonds
    
    
    40,382BMW NORTH AMER B 2.4%12CD FDI
    
    
    25,000
    
    
    Corporate Bonds
    
    
    25,558BP CAPITAL MKT 3.125%12FNOTES
    
    
    10,000
    
    
    Corporate Bonds
    
    
    10,220CITIGROUP INC 5.10%11SR NOT
    
    
    10,000
    
    
    Corporate Bonds
    
    
    10,321FCX 8.250 04/ 8.25%15
    
    
    15,000
    
    
    Corporate Bonds
    
    
    15,825FIRST UNITED BK 0.85%11CD FDI
    
    
    10,000
    
    
    Corporate Bonds
    
    
    10,008GE CAPITAL FINL 2.5%11CD FDI
    
    
    50,000
    
    
    Corporate Bonds
    
    
    50,401GE MONEY BANK N A 1.3%13CD FDI
    
    
    24,000
    
    
    Corporate Bonds
    
    
    24,006GE MONEY BANK N A 2.3%14CD FDI
    
    
    10,000
    
    
    Corporate Bonds
    
    
    10,155GENWORTH GL FD 5.125%11NOTES
    
    
    10,000
    
    
    Corporate Bonds
    
    
    10,084GOLDMAN SACHS 5.70%12NOTES
    
    
    10,000
    
    
    Corporate Bonds
    
    
    10,694
 30




---



##### 



WILLIS NORTH AMERICA, INC.

401(K) RETIREMENT SAVINGS PLAN

Employer Identification Number  13-5654526
 FORM 5500, SCHEDULE H, PART 1V, LINE 4i  SCHEDULE OF ASSETS (HELD AT END OF YEAR)

DECEMBER 31, 2010
 Identity of issue, borrower, lessor, or similar party
    
    
    
    
    
    Description of investment including maturity date, rate of interest,  collateral, par, or maturity value
    
    Current ValueGOLDMAN SACHS G 5.25%13NOTES
    
    
    25,000
    
    
    Corporate Bonds
    
    
    26,855HARTFORD LF TRST 5.2%11NOTES
    
    
    10,000
    
    
    Corporate Bonds
    
    
    10,049J P MORGAN CHASE 6.75%11GLBL N
    
    
    10,000
    
    
    Corporate Bonds
    
    
    10,033MERRILL LYNCH 6.05%12SR UNS
    
    
    25,000
    
    
    Corporate Bonds
    
    
    26,523PRUDENTIAL FINL 5.8%12NOTES
    
    
    25,000
    
    
    Corporate Bonds
    
    
    26,534ROYAL CARIBBEA 6.875%13FSR NT
    
    
    5,000
    
    
    Corporate Bonds
    
    
    5,325SOUTHWEST AIR 5.75%16BONDS
    
    
    10,000
    
    
    Corporate Bonds
    
    
    10,544WASH MUTUAL FIN 6.875%11SR NOT
    
    
    10,000
    
    
    Corporate Bonds
    
    
    10,216U S TREAS STRIP 0% 11/11INT PM
    
    
    12,000
    
    
    Principal amount due 11/15/2011
    
    
    11,975U S TREAS STRIP 0% 11/12INT PM
    
    
    12,000
    
    
    Principal amount due 11/15/2012
    
    
    11,865U S TREAS STRIP 0% 11/13INT PM
    
    
    12,000
    
    
    Principal amount due 11/15/2013
    
    
    11,658U S TREAS STRIP 0% 02/11INT PM
    
    
    53,000
    
    
    Principal amount due 2/15/2011
    
    
    52,992U S TREAS STRIP 0% 02/12INT PM
    
    
    53,000
    
    
    Principal amount due 2/15/2012
    
    
    52,781U S TREAS STRIP 0% 02/13INT PM
    
    
    53,000
    
    
    Principal amount due 2/15/2013
    
    
    52,168U S TREAS STRIP 0% 02/14INT PM
    
    
    12,000
    
    
    Principal amount due 2/15/2014
    
    
    11,574U S TREAS STRIP 0% 05/11INT PM
    
    
    12,000
    
    
    Principal amount due 5/15/2011
    
    
    11,993U S TREAS STRIP 0% 05/12INT PM
    
    
    12,000
    
    
    Principal amount due 5/15/2012
    
    
    11,938U S TREAS STRIP 0% 05/13INT PM
    
    
    12,000
    
    
    Principal amount due 5/15/2013
    
    
    11,767U S TREAS STRIP 0% 08/11INT PM
    
    
    12,000
    
    
    Principal amount due 8/15/2011
    
    
    11,982U S TREAS STRIP 0% 08/12INT PM
    
    
    12,000
    
    
    Principal amount due 8/15/2012
    
    
    11,894U S TREAS STRIP 0% 08/13INT PM
    
    
    12,000
    
    
    Principal amount due 8/15/2013
    
    
    11,713TFLIC General Account
    
    
    
    
    
    General Insurance Assets
    
    
    263,328State Street Bank & Trust Co. Cash Reserve Account
    
    
    
    
    
    Cash Reserve Account
    
    
    203,131Total
    
    
    
    
    
    
    
    
    1,236,501PARTICIPANT NOTES RECEIVABLE
    
    
    
    
    
    Participant notes receivable bearing interest ranging from 4.25% to 11.03% and maturity dates from January 1, 2011 to September 1, 2025
    
    
    8,685,427Total Investments at Fair Value
    
    
    595,935,192Adjustment from Fair Value to Contract Value for Stable Value Funds
    
    
    (11,250,894
    )Total Investments at Contract Value
    
    $
    584,684,298
 31




---



##### 



SIGNATURE
  WILLIS 401(K) RETIREMENT SAVINGS PLANBy:
    /s/ Derrick CogginDerrick CogginVice President and Treasurer

Willis North America Inc.




---



##### 



CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM