# EDGAR Filing Document

**Accession Number:** 0001633227
**File Stem:** 0001633227-25-000005
**Filing Date:** 2025-11
**Character Count:** 16746
**Document Hash:** c95068ea6f21aa773a678576dfb969d2
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001633227-25-000005.hdr.sgml**: 20251113

**ACCESSION NUMBER**: 0001633227-25-000005

**CONFORMED SUBMISSION TYPE**: 13F-HR

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251113

**DATE AS OF CHANGE**: 20251113

**EFFECTIVENESS DATE**: 20251113

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** McGowan Group Asset Management, Inc.
- **CENTRAL INDEX KEY:** 0001633227

**ORGANIZATION NAME:**
- **EIN:** 270603296
- **STATE OF INCORPORATION:** TX
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-16514
- **FILM NUMBER:** 251477112

**BUSINESS ADDRESS:**
- **STREET 1:** 300 CRESCENT COURT
- **STREET 2:** SUITE 1776
- **CITY:** DALLAS
- **STATE:** TX
- **ZIP:** 75201
- **BUSINESS PHONE:** 214.720.4400

**MAIL ADDRESS:**
- **STREET 1:** 300 CRESCENT COURT
- **STREET 2:** SUITE 1776
- **CITY:** DALLAS
- **STATE:** TX
- **ZIP:** 75201

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 09-30-2025

**Check here if Amendment** [ ] **Amendment Number:** 

**This Amendment (Check only one.):** [ ] is a restatement.

[ ] adds new holdings entries.

**Institutional Investment Manager Filing this Report:**

**Name:** McGowan Group Asset Management Inc.<br>**Address:** 300 CRESCENT COURT<br>SUITE 1776<br>DALLAS, TX 75201

**Form 13F File Number:** 028-16514

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.

**Person Signing this Report on Behalf of Reporting Manager:**

**Name:** Ismael Lee Sanchez<br>**Title:** Chief Compliance Officer<br>**Phone:** 214.720.4400

**Signature, Place, and Date of Signing:**

Ismael Lee Sanchez  Dallas, TX  11-13-2025<br>[Signature]  [City, State]  [Date]

**Report Type (Check only one.):**

[x] **13F HOLDINGS REPORT.** (Check here if all holdings of this reporting manager are reported in this report.)

[ ] **13F NOTICE.** (Check here if no holdings are reported in this report, and all holdings are reported by other reporting manager(s).)

[ ] **13F COMBINATION REPORT.** (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)

### Form 13F Summary Page

**Report Summary:**

**Number of Other Included Managers:** 0

**Form 13F Information Table Entry Total:** 121

**Form 13F Information Table Value Total:** $806504656

      (round to nearest dollar)

**List of Other Included Managers:**

Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.

[If there are no entries in this list, state “NONE” and omit the column headings and list entries.]

**NONE**

### FORM 13F INFORMATION TABLE

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | VOTING AUTHORITY | VOTING AUTHORITY | VOTING AUTHORITY |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | SOLE | SHARED | NONE |
| 3M CO COM | COM | 88579Y101 |  | 19945666 | 128532 | SH |  | SOLE |  | 128532 | 0 | 0 |
| ACCENTURE PLC IRELAND SHS CL A | SHS CLASS A | G1151C101 |  | 447621 | 1815 | SH |  | SOLE |  | 1815 | 0 | 0 |
| AEROVIRONMENT INC COM | COM | 008073108 |  | 234278 | 744 | SH |  | SOLE |  | 744 | 0 | 0 |
| ALLIANCEBERSTEIN GLOBAL HIGH INCOME FD INC | COM | 01879R106 |  | 41903352 | 3738033 | SH |  | SOLE |  | 3738033 | 0 | 0 |
| ALLSTATE CORP COM | COM | 020002101 |  | 7547129 | 35160 | SH |  | SOLE |  | 35160 | 0 | 0 |
| ALPHABET INC CAP STK CL A | CAP STK CL A | 02079K305 |  | 7599096 | 31259 | SH |  | SOLE |  | 31259 | 0 | 0 |
| ALPS ETF TR ALERIAN MLP ETF | ALERIAN MLP | 00162Q452 |  | 753452 | 16055 | SH |  | SOLE |  | 16055 | 0 | 0 |
| ALTRIA GROUP INC | COM | 02209S103 |  | 839105 | 12702 | SH |  | SOLE |  | 12702 | 0 | 0 |
| AMAZON COM INC | COM | 023135106 |  | 4561567 | 20775 | SH |  | SOLE |  | 20775 | 0 | 0 |
| AMPHENOL CORP NEW CL A | CL A | 032095101 |  | 1195809 | 9663 | SH |  | SOLE |  | 9663 | 0 | 0 |
| APPLE INC COM | COM | 037833100 |  | 4843356 | 19021 | SH |  | SOLE |  | 19021 | 0 | 0 |
| APPLIED MATERIALS INC | COM | 038222105 |  | 587745 | 2871 | SH |  | SOLE |  | 2871 | 0 | 0 |
| ARES CAP CORP COM | COM | 04010L103 |  | 23871779 | 1169612 | SH |  | SOLE |  | 1169612 | 0 | 0 |
| AUTOZONE INC | COM | 053332102 |  | 300317 | 70 | SH |  | SOLE |  | 70 | 0 | 0 |
| BERKSHIRE HATHAWAY INC DEL CL B NEW | CL B NEW | 084670702 |  | 1612287 | 3207 | SH |  | SOLE |  | 3207 | 0 | 0 |
| BLACKROCK CORPORATE HIGH YIELD FD VI INC C | COM | 09255P107 |  | 35911577 | 3780166 | SH |  | SOLE |  | 3780166 | 0 | 0 |
| BRITISH AMERN TOB PLC SPONSORED ADR | SPONSORED ADR | 110448107 |  | 29558499 | 556867 | SH |  | SOLE |  | 556867 | 0 | 0 |
| BROADCOM INC COM | COM | 11135F101 |  | 229866 | 697 | SH |  | SOLE |  | 697 | 0 | 0 |
| BWX TECHNOLOGIES INC COM | COM | 05605H100 |  | 23747450 | 128803 | SH |  | SOLE |  | 128803 | 0 | 0 |
| CALAMOS STRATEGIC TOTAL RETURN FD COM SH B | COM SH BEN INT | 128125101 |  | 15287028 | 792485 | SH |  | SOLE |  | 792485 | 0 | 0 |
| CARLYLE GROUP INC COM | COM | 14316J108 |  | 719094 | 11469 | SH |  | SOLE |  | 11469 | 0 | 0 |
| CATERPILLAR INC | COM | 149123101 |  | 759707 | 1592 | SH |  | SOLE |  | 1592 | 0 | 0 |
| CHENIERE ENERGY INC COM NEW | COM NEW | 16411R208 |  | 1509465 | 6424 | SH |  | SOLE |  | 6424 | 0 | 0 |
| CHENIERE ENERGY PARTNERS L P COM UNIT REPT | COM UNIT | 16411Q101 |  | 12897226 | 239636 | SH |  | SOLE |  | 239636 | 0 | 0 |
| CHEVRON CORP NEW COM | COM | 166764100 |  | 6503950 | 41883 | SH |  | SOLE |  | 41883 | 0 | 0 |
| CIGNA CORP | COM | 125523100 |  | 421372 | 1462 | SH |  | SOLE |  | 1462 | 0 | 0 |
| CISCO SYSTEMS INC | COM | 17275R102 |  | 270294 | 3951 | SH |  | SOLE |  | 3951 | 0 | 0 |
| COHEN  STEERS INFRASTRUCTURE FD INC COM | COM | 19248A109 |  | 34013254 | 1371502 | SH |  | SOLE |  | 1371502 | 0 | 0 |
| COMSTOCK RES INC COM | COM | 205768302 |  | 274546 | 13845 | SH |  | SOLE |  | 13845 | 0 | 0 |
| CONOCOPHILLIPS COM | COM | 20825C104 |  | 718448 | 7595 | SH |  | SOLE |  | 7595 | 0 | 0 |
| COPA HOLDING S A CL A COM | CL A | P31076105 |  | 2155348 | 18140 | SH |  | SOLE |  | 18140 | 0 | 0 |
| COSTCO WHOLESALE CORP NEW COM | COM | 22160K105 |  | 218833 | 236 | SH |  | SOLE |  | 236 | 0 | 0 |
| CURTISS WRIGHT CORP | COM | 231561101 |  | 692249 | 1275 | SH |  | SOLE |  | 1275 | 0 | 0 |
| DEERE  CO | COM | 244199105 |  | 919901 | 2012 | SH |  | SOLE |  | 2012 | 0 | 0 |
| DELL TECHNOLOGIES INC CL C | CL C | 24703L202 |  | 18803878 | 132637 | SH |  | SOLE |  | 132637 | 0 | 0 |
| DIAMONDBACK ENERGY INC | COM | 25278X109 |  | 4016836 | 28070 | SH |  | SOLE |  | 28070 | 0 | 0 |
| DIGITAL RLTY TR INC COM | COM | 253868103 |  | 385522 | 2230 | SH |  | SOLE |  | 2230 | 0 | 0 |
| DOUBLELINE INCOME SOLUTIONS FD | COM | 258622109 |  | 35686425 | 2906061 | SH |  | SOLE |  | 2906061 | 0 | 0 |
| DUKE ENERGY CORP NEW COM | COM NEW | 26441C204 |  | 391520 | 3164 | SH |  | SOLE |  | 3164 | 0 | 0 |
| EATON VANCE TAX ADVANTAGED DIVID INCOME FU | COM | 27828G107 |  | 19258198 | 787656 | SH |  | SOLE |  | 787656 | 0 | 0 |
| EATON VANCE TAX ADVANTAGED GLO GLOBAL DIVI | COM | 27828S101 |  | 13184829 | 623986 | SH |  | SOLE |  | 623986 | 0 | 0 |
| EBAY INC COM | COM | 278642103 |  | 13966849 | 153566 | SH |  | SOLE |  | 153566 | 0 | 0 |
| ELI LILLY  CO COM | COM | 532457108 |  | 16460679 | 21574 | SH |  | SOLE |  | 21574 | 0 | 0 |
| ENERGY TRANSFER LP COM UNITS | COM UT LTD PTN | 29273V100 |  | 15108274 | 880436 | SH |  | SOLE |  | 880436 | 0 | 0 |
| ENOVIX CORP | COM | 293594107 |  | 3612849 | 362372 | SH |  | SOLE |  | 362372 | 0 | 0 |
| ENTERPRISE PRODS PARTNERS L P COM UNIT | COM | 293792107 |  | 11546182 | 369242 | SH |  | SOLE |  | 369242 | 0 | 0 |
| EXPAND ENERGY CORPORATION | COM | 165167735 |  | 2546341 | 23968 | SH |  | SOLE |  | 23968 | 0 | 0 |
| EXXON MOBIL CORP COM | COM | 30231G102 |  | 28070914 | 248966 | SH |  | SOLE |  | 248966 | 0 | 0 |
| FORD MOTOR CO DEL COM PAR | COM | 345370860 |  | 777445 | 65004 | SH |  | SOLE |  | 65004 | 0 | 0 |
| FREEPORT-MCMORAN INC CL B | CL B | 35671D857 |  | 392262 | 10002 | SH |  | SOLE |  | 10002 | 0 | 0 |
| GENERAL DYNAMICS CORP COM | COM | 369550108 |  | 213640 | 627 | SH |  | SOLE |  | 627 | 0 | 0 |
| GENERAL ELECTRIC CO | COM NEW | 369604301 |  | 260797 | 867 | SH |  | SOLE |  | 867 | 0 | 0 |
| GENERAL MNY MKT FUND | MONEY MARKET | 370990228 |  | 103942708 | 103942708 | SH |  | SOLE |  | 103942708 | 0 | 0 |
| GLOBAL X FDS MLP ETF | GLBL X MLP ETF | 37954Y343 |  | 241906 | 4996 | SH |  | SOLE |  | 4996 | 0 | 0 |
| GOLDMAN SACHS ETF TR TR ACCESS ULTRA SHORT | ULTRA SHORT BOND | 381430230 |  | 17030922 | 335916 | SH |  | SOLE |  | 335916 | 0 | 0 |
| HONDA MTR LTD ADR | ADR ECH CNV IN 3 | 438128308 |  | 316898 | 10289 | SH |  | SOLE |  | 10289 | 0 | 0 |
| INTERNATIONAL BUSINESS MACHS CORP COM | COM | 459200101 |  | 750474 | 2660 | SH |  | SOLE |  | 2660 | 0 | 0 |
| ISHARES TR CORE S U S VALUE ETF | CORE S US VLU | 464287663 |  | 387046 | 3872 | SH |  | SOLE |  | 3872 | 0 | 0 |
| ISHARES TR S 500 INDEX | CORE S ETF | 464287200 |  | 220163 | 329 | SH |  | SOLE |  | 329 | 0 | 0 |
| JOHNSON  JOHNSON COM | COM | 478160104 |  | 866007 | 4671 | SH |  | SOLE |  | 4671 | 0 | 0 |
| JP MORGAN CHASE  CO COM | COM | 46625H100 |  | 332866 | 1055 | SH |  | SOLE |  | 1055 | 0 | 0 |
| KAYNE ANDERSON MLP INVESTMENT COMPANY | COM | 486606106 |  | 3797047 | 306956 | SH |  | SOLE |  | 306956 | 0 | 0 |
| KLA CORP | COM NEW | 482480100 |  | 1013884 | 940 | SH |  | SOLE |  | 940 | 0 | 0 |
| L3HARRIS TECHNOLOGIES INC COM | COM | 502431109 |  | 260884 | 854 | SH |  | SOLE |  | 854 | 0 | 0 |
| MASTERCARD INC CL A | CL A | 57636Q104 |  | 1443734 | 2538 | SH |  | SOLE |  | 2538 | 0 | 0 |
| MERCADOLIBRE INC | COM | 58733R102 |  | 350541 | 150 | SH |  | SOLE |  | 150 | 0 | 0 |
| META PLATFORMS INC | CL A | 30303M102 |  | 761882 | 1037 | SH |  | SOLE |  | 1037 | 0 | 0 |
| MICROSOFT CORP COM | COM | 594918104 |  | 8684078 | 16766 | SH |  | SOLE |  | 16766 | 0 | 0 |
| MONDELEZ INTL INC CL A | CL A | 609207105 |  | 201528 | 3226 | SH |  | SOLE |  | 3226 | 0 | 0 |
| NORTHROP GRUMMAN CORP NEW | COM | 666807102 |  | 441757 | 725 | SH |  | SOLE |  | 725 | 0 | 0 |
| NUVEEN DIVIDEND ADVANTAGE MUNICIPAL FUND | COM | 67066V101 |  | 15236041 | 1303340 | SH |  | SOLE |  | 1303340 | 0 | 0 |
| NUVEEN DIVIDEND MUNICIPAL FUND | COM SH BEN INT | 67070X101 |  | 5229749 | 416381 | SH |  | SOLE |  | 416381 | 0 | 0 |
| NUVEEN GLOBAL HIGH INCOME FD SHS | SHS | 67075G103 |  | 50686453 | 3748998 | SH |  | SOLE |  | 3748998 | 0 | 0 |
| NUVEEN INSURED TAX FREE ADVANTAGE | COM | 670657105 |  | 15368113 | 1349264 | SH |  | SOLE |  | 1349264 | 0 | 0 |
| NUVEEN MUNICIPAL CREDIT INCOME FUND | COM | 67071L106 |  | 5469040 | 444999 | SH |  | SOLE |  | 444999 | 0 | 0 |
| NVIDIA CORP COM | COM | 67066G104 |  | 1103479 | 5914 | SH |  | SOLE |  | 5914 | 0 | 0 |
| O REILLY AUTOMOTIVE INC NEW COM | COM | 67103H107 |  | 304024 | 2820 | SH |  | SOLE |  | 2820 | 0 | 0 |
| OGE ENERGY CORP | COM | 670837103 |  | 206837 | 4470 | SH |  | SOLE |  | 4470 | 0 | 0 |
| ORACLE CORP COM | COM | 68389X105 |  | 1105507 | 3931 | SH |  | SOLE |  | 3931 | 0 | 0 |
| PALANTIR TECHNOLOGIES INC CL A | CL A | 69608A108 |  | 884919 | 4851 | SH |  | SOLE |  | 4851 | 0 | 0 |
| PALO ALTO NETWORKS INC COM | COM | 697435105 |  | 2858621 | 14039 | SH |  | SOLE |  | 14039 | 0 | 0 |
| PEPSICO INC COM | COM | 713448108 |  | 279189 | 1988 | SH |  | SOLE |  | 1988 | 0 | 0 |
| PERMIAN RES CORP CL A | CLASS A COM | 71424F105 |  | 12030515 | 939884 | SH |  | SOLE |  | 939884 | 0 | 0 |
| PERMIANVILLE RTY TR TR UNIT | TR UNIT | 71425H100 |  | 234732 | 129686 | SH |  | SOLE |  | 129686 | 0 | 0 |
| PHILIP MORRIS INTL INC COM | COM | 718172109 |  | 948120 | 5845 | SH |  | SOLE |  | 5845 | 0 | 0 |
| PHILLIPS 66 | COM | 718546104 |  | 257512 | 1893 | SH |  | SOLE |  | 1893 | 0 | 0 |
| PLAINS GP HLDGS L P LTD PARTNER INT CL A N | LTD PARTNR INT A | 72651A207 |  | 24288993 | 1331633 | SH |  | SOLE |  | 1331633 | 0 | 0 |
| PROCTER  GAMBLE CO COM | COM | 742718109 |  | 1654404 | 10767 | SH |  | SOLE |  | 10767 | 0 | 0 |
| QUALCOMM INC | COM | 747525103 |  | 403023 | 2423 | SH |  | SOLE |  | 2423 | 0 | 0 |
| QUANTA SVCS INC COM | COM | 74762E102 |  | 290307 | 701 | SH |  | SOLE |  | 701 | 0 | 0 |
| RADIANT LOGISTICS INC | COM | 75025X100 |  | 701103 | 118831 | SH |  | SOLE |  | 118831 | 0 | 0 |
| RAYTHEON TECHNOLOGIES CORP | COM | 75513E101 |  | 497956 | 2976 | SH |  | SOLE |  | 2976 | 0 | 0 |
| SOUNDHOUND AI INC CL A | CLASS A COM | 836100107 |  | 604560 | 37597 | SH |  | SOLE |  | 37597 | 0 | 0 |
| SOUTHERN CO COM | COM | 842587107 |  | 458950 | 4843 | SH |  | SOLE |  | 4843 | 0 | 0 |
| SPDR SER TR SPDR BLOOMBERG 1-3 MNTH T BILL | BLOOMBERG 1-3 MO | 78468R663 |  | 1201466 | 13095 | SH |  | SOLE |  | 13095 | 0 | 0 |
| T MOBILE US | COM | 872590104 |  | 4673975 | 19525 | SH |  | SOLE |  | 19525 | 0 | 0 |
| TAIWAN SEMICONDUCTOR MFG CO LTD ADR | SPONSORED ADS | 874039100 |  | 277921 | 995 | SH |  | SOLE |  | 995 | 0 | 0 |
| TESLA MTRS INC COM | COM | 88160R101 |  | 1063326 | 2391 | SH |  | SOLE |  | 2391 | 0 | 0 |
| TEXAS INSTRUMENTS INC | COM | 882508104 |  | 6115056 | 33283 | SH |  | SOLE |  | 33283 | 0 | 0 |
| THE ONE GROUP HOSPITALITY INC COM | COM | 88338K103 |  | 2481472 | 838335 | SH |  | SOLE |  | 838335 | 0 | 0 |
| TJX COS INC NEW | COM | 872540109 |  | 230255 | 1593 | SH |  | SOLE |  | 1593 | 0 | 0 |
| TOAST INC CL A | CL A | 888787108 |  | 6435275 | 176261 | SH |  | SOLE |  | 176261 | 0 | 0 |
| TORTOISE CAP SER TR POWER  ENERGY INFRAST | ESSENTIAL ENERGY | 890930100 |  | 253503 | 12066 | SH |  | SOLE |  | 12066 | 0 | 0 |
| UNUM GROUP | COM | 91529Y106 |  | 14756822 | 189725 | SH |  | SOLE |  | 189725 | 0 | 0 |
| VANECK VECTORS ETF TR GOLD MINERS ETF | GOLD MINERS ETF | 92189F106 |  | 392185 | 5133 | SH |  | SOLE |  | 5133 | 0 | 0 |
| VANGUARD TOTAL STOCK MARKET ETF | TOTAL STK MKT | 922908769 |  | 283875 | 865 | SH |  | SOLE |  | 865 | 0 | 0 |
| VANGUARD WORLD FDS INFORMATION TECH ETF | INF TECH ETF | 92204A702 |  | 209260 | 280 | SH |  | SOLE |  | 280 | 0 | 0 |
| VERIZON COMMUNICATIONS COM | COM | 92343V104 |  | 569554 | 12959 | SH |  | SOLE |  | 12959 | 0 | 0 |
| VISA INC COM CL A | COM CL A | 92826C839 |  | 8570007 | 25104 | SH |  | SOLE |  | 25104 | 0 | 0 |
| VOC ENERGY TR TR UNIT | TR UNIT | 91829B103 |  | 316531 | 108031 | SH |  | SOLE |  | 108031 | 0 | 0 |
| WALMART INC | COM | 931142103 |  | 806479 | 7825 | SH |  | SOLE |  | 7825 | 0 | 0 |
| WILLIAMS COS INC COM | COM | 969457100 |  | 505527 | 7980 | SH |  | SOLE |  | 7980 | 0 | 0 |
| FANNIN CNTY TEX PUB FAC CORP REV REF BDS DETENTION FAC PROJ 2014 | MUNICIPAL BOND | 307149AN4 |  | 425331 | 540000 | PRN |  | SOLE |  | 540000 | 0 | 0 |
| FANNIN CNTY TEX PUB FAC CORP REV REF BDS DETENTION FAC PROJ 2014 | MUNICIPAL BOND | 307149AM6 |  | 1487192 | 1725000 | PRN |  | SOLE |  | 1725000 | 0 | 0 |
| NORTH TEX TWY AUTH REV SYS REF BDS B 5.000 01/01/43 B/E DTD 11/01/17 CL | MUNICIPAL BOND | 66285WXM3 |  | 554433 | 550000 | PRN |  | SOLE |  | 550000 | 0 | 0 |
| PORT SEATTLE WASH REV INTER LIEN BDS 2019 5.000 04/01/44 B/E DTD 08/07/ | MUNICIPAL BOND | 735389J33 |  | 202136 | 200000 | PRN |  | SOLE |  | 200000 | 0 | 0 |
| PRAIRIELANDS PUB FAC CORP TEX PROJ REV REV BDS PRAIRIELAND DETENTION CT | MUNICIPAL BOND | 73972CAN4 |  | 3352923 | 4900000 | PRN |  | SOLE |  | 4900000 | 0 | 0 |
| SILICON VY TOB SECURITIZATION AUTH CALIF TOB SETTLEMENT REV TOBACCO | MUNICIPAL BOND | 82706TAD3 |  | 308490 | 3500000 | PRN |  | SOLE |  | 3500000 | 0 | 0 |
| TOBACCO SETTLEMENT FING CORP VA ASSET BACKED BDS 2007C | MUNICIPAL BOND | 88880NAW9 |  | 206703 | 830000 | PRN |  | SOLE |  | 830000 | 0 | 0 |
| TULANE UNIV LA RFDG-TULANE UNIV-C 0.523 02/15/36 B/E DTD 05/31/07 CLB | MUNICIPAL BOND | 899062BQ5 |  | 614381 | 660000 | PRN |  | SOLE |  | 660000 | 0 | 0 |
| UNITED STS TREAS NTS 4.250 10/15/25 B/E DTD 10/15/22 | TREASURY NOTE | 91282CFP1 |  | 330000 | 330000 | PRN |  | SOLE |  | 330000 | 0 | 0 |

---