C Fund Activity through 07/25/08

7/21/08 sell 5000 SWIM @ 7.07
7/21/08 sell 1600 RYAAY @ 32.26
7/21/08 buy 3500 SIMO @ 13.57
7/21/08 buy 2500 PLLL @ 17.15
7/22/08 buy 700 PXP @ 62.47


STOCKS $ 899,843.55
CASH $ 57,914.21
TOTAL $ 957,757.76

NAV $ 9.58


alpha 1.93
beta 1.09
R-sq 0.68