APPENDIX A - Securities Listing By Fund as of 3/31/2010
Fund Cusip Security Name Coupon Maturity Shares Book Value Market Value Rpt Date  STIP   TFIP   RFBP   MDEP   MTIP   MPEP   MTRP   In-State   Mortgages   Property   AOF Fixed   AOF Index   AOF Book 
TREASURERS FUND 17314JAA1 CITBANK NA 1.625 03/30/11 10,000,000 10,056,266 10,108,618 03/31/10 ########
TREASURERS FUND 31331YGP9 FEDERAL FARM CREDIT BANK 3.750 12/06/10 10,000,000 10,208,632 10,213,591 03/31/10 ########
TREASURERS FUND 3137EABU2 FEDERAL HOME LN MTG CORP 3.125 10/25/10 10,000,000 10,145,297 10,145,321 03/31/10 ########
TREASURERS FUND 3137EABV0 FEDERAL HOME LN MTG CORP 2.875 11/23/10 10,000,000 10,149,873 10,146,751 03/31/10 ########
TREASURERS FUND 3133XUBV4 FEDERAL HOME LOAN BANK 0.880 01/20/11 10,000,000 10,008,820 10,032,674 03/31/10 ########
TREASURERS FUND 31359MGJ6 FEDERAL NATL MTG ASSN 6.625 11/15/10 10,000,000 10,377,217 10,374,523 03/31/10 ########
TREASURERS FUND 36967HAL1 GENERAL ELEC CAP CORP 1.800 03/11/11 5,000,000 5,033,646 5,060,939 03/31/10 ########
TREASURERS FUND 91399B004 US BANK SWEEP REPO 0.250 04/01/10 109,549,973 109,549,973 109,549,973 03/31/10 ########
TREASURERS FUND 912828LG3 US TREASURY N/B 1.000 07/31/11 5,000,000 4,990,985 5,025,650 03/31/10 ########
TREASURERS FUND 8259909A4 SHORT TERM INVESTMENT POOL NA NA 457,847,272 457,847,272 457,847,272 03/31/10 ########
TREASURERS FUND         637,397,245 638,367,981 638,505,312
ABANDONED MINE TRUST 02635PSV6 AMERICAN GEN FIN CORP MTN 4.875 05/15/10 200,000 199,999 200,000 03/31/10    199,999
ABANDONED MINE TRUST 06050BAG6 BANK AMER CORP MEDIUM TERM 2.100 04/30/12 300,000 299,942 305,388 03/31/10    299,942
ABANDONED MINE TRUST 17313YAL5 CITIGROUP FUNDING INC 1.875 10/22/12 250,000 249,257 251,823 03/31/10    249,257
ABANDONED MINE TRUST 31331YST8 FEDERAL FARM CREDIT BANK 3.400 02/07/13 500,000 500,000 521,040 03/31/10    500,000
ABANDONED MINE TRUST 3133XHPH9 FEDERAL HOME LOAN BANK 4.875 11/18/11 500,000 499,660 531,712 03/31/10    499,660
ABANDONED MINE TRUST 3133XKSK2 FEDERAL HOME LOAN BKS 4.875 06/08/12 500,000 497,978 537,917 03/31/10    497,978
ABANDONED MINE TRUST 31398ASD5 FEDERAL NATL MTG ASSN 3.875 07/12/13 500,000 494,890 531,355 03/31/10    494,890
ABANDONED MINE TRUST 36962G2L7 GENERAL ELEC CAP CORP 5.000 04/10/12 150,000 149,677 159,422 03/31/10    149,677
ABANDONED MINE TRUST 37247DAJ5 GENWORTH FINL INC 5.650 06/15/12 200,000 199,806 205,000 03/31/10    199,806
ABANDONED MINE TRUST 38141GEV2 GOLDMAN SACHS GROUP 5.300 02/14/12 250,000 249,922 265,410 03/31/10    249,922
ABANDONED MINE TRUST 427866AN8 HERSHEY FOODS CORP 5.300 09/01/11 300,000 299,834 316,239 03/31/10    299,834
ABANDONED MINE TRUST 52517PD57 LEHMAN BROTHERS HLDGS INC 5.000 01/14/11 200,000 39,108 45,500 03/31/10      39,108
ABANDONED MINE TRUST 61746SBS7 MORGAN STANLEY 5.050 01/21/11 250,000 249,897 258,451 03/31/10    249,897
ABANDONED MINE TRUST 74367FAN8 PROTECTIVE LIFE SECD TRS SECD 5.450 09/28/12 200,000 199,771 214,037 03/31/10    199,771
ABANDONED MINE TRUST 92344UAA3 VERIZON NEW JERSEY INC 5.875 01/17/12 250,000 252,413 265,723 03/31/10    252,413
ABANDONED MINE TRUST 949746NJ6 WELLS FARGO CO NEW 5.300 08/26/11 300,000 299,851 316,296 03/31/10    299,851
ABANDONED MINE TRUST 8259909A4 SHORT TERM INVESTMENT POOL NA NA 752,851 752,851 752,851 03/31/10    752,851
ABANDONED MINE TRUST         5,602,851 5,434,856 5,678,165
FWP MITIGATION 02635PSV6 AMERICAN GEN FIN CORP MTN 4.875 05/15/10 500,000 499,998 500,000 03/31/10    499,998
FWP MITIGATION 06050BAG6 BANK AMER CORP MEDIUM TERM 2.100 04/30/12 500,000 499,904 508,981 03/31/10    499,904
FWP MITIGATION 17313YAL5 CITIGROUP FUNDING INC 1.875 10/22/12 750,000 747,770 755,470 03/31/10    747,770
FWP MITIGATION 31331YST8 FEDERAL FARM CREDIT BANK 3.400 02/07/13 1,000,000 1,000,000 1,042,080 03/31/10 ########
FWP MITIGATION 3133XS4S4 FEDERAL HOME LN BKS 3.625 09/16/11 500,000 499,598 520,205 03/31/10    499,598
FWP MITIGATION 3133XHPH9 FEDERAL HOME LOAN BANK 4.875 11/18/11 1,000,000 999,320 1,063,424 03/31/10    999,320
FWP MITIGATION 3133XKSK2 FEDERAL HOME LOAN BKS 4.875 06/08/12 1,000,000 995,955 1,075,834 03/31/10    995,955
FWP MITIGATION 31398ASD5 FEDERAL NATL MTG ASSN 3.875 07/12/13 1,000,000 989,780 1,062,711 03/31/10    989,780
FWP MITIGATION 36962G2L7 GENERAL ELEC CAP CORP 5.000 04/10/12 400,000 399,138 425,126 03/31/10    399,138
FWP MITIGATION 37247DAJ5 GENWORTH FINL INC 5.650 06/15/12 400,000 399,612 410,000 03/31/10    399,612
FWP MITIGATION 38141GEV2 GOLDMAN SACHS GROUP 5.300 02/14/12 500,000 499,845 530,820 03/31/10    499,845
FWP MITIGATION 427866AN8 HERSHEY FOODS CORP 5.300 09/01/11 500,000 499,723 527,065 03/31/10    499,723
FWP MITIGATION 52517PD57 LEHMAN BROTHERS HLDGS INC 5.000 01/14/11 500,000 97,770 113,750 03/31/10      97,770
FWP MITIGATION 61746SBS7 MORGAN STANLEY 5.050 01/21/11 500,000 499,793 516,902 03/31/10    499,793
FWP MITIGATION 74367FAN8 PROTECTIVE LIFE SECD TRS SECD 5.450 09/28/12 400,000 399,543 428,073 03/31/10    399,543
FWP MITIGATION 92344UAA3 VERIZON NEW JERSEY INC 5.875 01/17/12 500,000 504,827 531,447 03/31/10    504,827
FWP MITIGATION 949746NJ6 WELLS FARGO CO NEW 5.300 08/26/11 500,000 499,751 527,160 03/31/10    499,751
FWP MITIGATION 8259909A4 SHORT TERM INVESTMENT POOL NA NA 1,838,019 1,838,019 1,838,019 03/31/10 ########
FWP MITIGATION         12,288,019 11,870,347 12,377,066
MONTANA POLE 31374GX44 FNMA POOL 313999 6.000 02/01/13 44,829 44,765 48,308 03/31/10      44,765
MONTANA POLE 36962G2L7 GENERAL ELEC CAP CORP 5.000 04/10/12 800,000 798,276 850,253 03/31/10    798,276
MONTANA POLE 8989909G3 TRUST FUNDS BOND POOL NA NA 25,457,530 24,948,399 25,608,023 03/31/10 ########
MONTANA POLE 8259909A4 SHORT TERM INVESTMENT POOL NA NA 5,000,000 5,000,000 5,000,000 03/31/10 ########
MONTANA POLE         31,302,359 30,791,440 31,506,584
FWP LICENSE 06050BAG6 BANK AMER CORP MEDIUM TERM 2.100 04/30/12 1,500,000 1,499,712 1,526,942 03/31/10 ########
FWP LICENSE 17313YAL5 CITIGROUP FUNDING INC 1.875 10/22/12 2,000,000 1,994,055 2,014,587 03/31/10 ########
FWP LICENSE 31331YST8 FEDERAL FARM CREDIT BANK 3.400 02/07/13 3,000,000 3,000,000 3,126,239 03/31/10 ########
FWP LICENSE 3133XR4U1 FEDERAL HOME LN BKS 3.125 06/10/11 2,000,000 1,978,855 2,059,846 03/31/10 ########
FWP LICENSE 3133XS4S4 FEDERAL HOME LN BKS 3.625 09/16/11 1,500,000 1,498,795 1,560,615 03/31/10 ########
FWP LICENSE 3133XKSK2 FEDERAL HOME LOAN BKS 4.875 06/08/12 500,000 497,978 537,917 03/31/10    497,978
FWP LICENSE 31398ASD5 FEDERAL NATL MTG ASSN 3.875 07/12/13 3,500,000 3,464,231 3,719,487 03/31/10 ########
FWP LICENSE 36962G2L7 GENERAL ELEC CAP CORP 5.000 04/10/12 600,000 598,707 637,690 03/31/10    598,707
FWP LICENSE 36967HAD9 GENERAL ELEC CAP CORP FDIC GTD 3.000 12/09/11 2,000,000 1,996,766 2,067,556 03/31/10 ########
FWP LICENSE 74367FAN8 PROTECTIVE LIFE SECD TRS SECD 5.450 09/28/12 400,000 399,543 428,073 03/31/10    399,543
FWP LICENSE 8259909A4 SHORT TERM INVESTMENT POOL NA NA 10,412,390 10,412,390 10,412,390 03/31/10 ########
FWP LICENSE         27,412,390 27,341,031 28,091,343
STREAMSIDE TAILINGS 000333AA2 AA / FT WORTH HQ FIN TR 5.500 10/05/10 274,210 274,210 273,591 03/31/10    274,210
STREAMSIDE TAILINGS 20047QAA3 COMM MTG TR 5.540 06/10/46 605,216 604,696 607,609 03/31/10    604,696
STREAMSIDE TAILINGS 29358BAA0 ENSCO OFFSHORE CO 6.360 12/01/15 2,000,158 2,000,158 2,211,935 03/31/10 ########
STREAMSIDE TAILINGS 31294JWU8 FED HM LN PC POOL E00659 6.000 04/01/14 144,495 144,454 156,144 03/31/10    144,454
STREAMSIDE TAILINGS 31371KLN9 FNMA POOL 254233 5.000 03/01/17 790,820 777,447 843,040 03/31/10    777,447
STREAMSIDE TAILINGS 46625MRA9 J P MORGAN CHASE COML MTG SECS 4.200 07/12/35 765,104 768,070 778,119 03/31/10    768,070
STREAMSIDE TAILINGS 8989909G3 TRUST FUNDS BOND POOL NA NA 62,348,968 60,997,992 62,717,546 03/31/10 ########
STREAMSIDE TAILINGS 8259909A4 SHORT TERM INVESTMENT POOL NA NA 7,350,000 7,350,000 7,350,000 03/31/10 ########
STREAMSIDE TAILINGS         74,278,972 72,917,028 74,937,982
OLDER MONTANANS TRUST FUND 8989909G3 TRUST FUNDS BOND POOL NA NA 9,013,469 8,814,874 9,066,752 03/31/10 ########
OLDER MONTANANS TRUST FUND 8259909A4 SHORT TERM INVESTMENT POOL NA NA 81,234 81,234 81,234 03/31/10      81,234
OLDER MONTANANS TRUST FUND     9,094,703 8,896,107 9,147,986
ENDOWMENT FOR CHILDREN 8989909G3 TRUST FUNDS BOND POOL NA NA 1,136,324 1,109,864 1,143,041 03/31/10 ########
ENDOWMENT FOR CHILDREN 8259909A4 SHORT TERM INVESTMENT POOL NA NA 39,900 39,900 39,900 03/31/10      39,900
ENDOWMENT FOR CHILDREN         1,176,224 1,149,764 1,182,941
UCFRB RESTORATION 29358BAA0 ENSCO OFFSHORE CO 6.360 12/01/15 2,000,158 2,000,158 2,211,935 03/31/10 ########
UCFRB RESTORATION 46625MRA9 J P MORGAN CHASE COML MTG SECS 4.200 07/12/35 765,104 768,070 778,119 03/31/10    768,070
UCFRB RESTORATION 8989909G3 TRUST FUNDS BOND POOL NA NA 161,087,006 156,357,045 162,039,275 03/31/10 ########
UCFRB RESTORATION 8259909A4 SHORT TERM INVESTMENT POOL NA NA 4,956,967 4,956,967 4,956,967 03/31/10 ########
UCFRB RESTORATION         168,809,234 164,082,240 169,986,295
UCFRB LITIGATION 8989909G3 TRUST FUNDS BOND POOL NA NA 12,000,367 11,715,507 12,071,307 03/31/10 ########
UCFRB LITIGATION 8259909A4 SHORT TERM INVESTMENT POOL NA NA 1,659,265 1,659,265 1,659,265 03/31/10 ########
UCFRB LITIGATION         13,659,632 13,374,773 13,730,572
STATE FUND INSURANCE 000333AA2 AA / FT WORTH HQ FIN TR 5.500 10/05/10 856,906 856,906 854,970 03/31/10    856,906
STATE FUND INSURANCE 002824AU4 ABBOTT LABS 5.125 04/01/19 5,000,000 4,976,296 5,268,777 03/31/10 ########
STATE FUND INSURANCE 013817AD3 ALCOA INC 6.500 06/01/11 3,000,000 2,962,262 3,127,500 03/31/10 ########
STATE FUND INSURANCE 02003MBQ6 ALLSTATE LIFE GBL FDG SECD 5.375 04/30/13 4,000,000 3,997,536 4,353,717 03/31/10 ########
STATE FUND INSURANCE 02209SAD5 ALTRIA GROUP INC 9.700 11/10/18 5,000,000 5,012,452 6,139,963 03/31/10 ########
STATE FUND INSURANCE 025816AW9 AMERICAN EXPRESS CO 5.500 09/12/16 5,000,000 4,983,586 5,210,147 03/31/10 ########
STATE FUND INSURANCE 025816AY5 AMERICAN EXPRESS CO 7.000 03/19/18 3,000,000 2,990,848 3,372,345 03/31/10 ########
STATE FUND INSURANCE 0258M0CY3 AMERICAN EXPRESS CR CORP 7.300 08/20/13 5,000,000 5,002,236 5,630,397 03/31/10 ########
STATE FUND INSURANCE 02635PSV6 AMERICAN GEN FIN CORP MTN 4.875 05/15/10 4,000,000 3,999,987 4,000,000 03/31/10 ########
STATE FUND INSURANCE 02635PTP8 AMERICAN GEN FIN CORP MTN 5.900 09/15/12 4,000,000 3,988,617 3,810,000 03/31/10 ########
STATE FUND INSURANCE 03523TAS7 ANHEUSER BUSCH INBEV WOR 3.625 04/15/15 3,000,000 2,993,920 3,015,788 03/31/10 ########
STATE FUND INSURANCE 04035TAA5 ARIA CDO II JERSEY NO 1 LTD 1.710 10/10/12 10,000,000 10,000,000 7,500,000 03/31/10 ########
STATE FUND INSURANCE 00206RAR3 AT+T INC 5.800 02/15/19 5,000,000 4,986,241 5,325,752 03/31/10 ########
STATE FUND INSURANCE 055482AH6 B J SERVICES 5.750 06/01/11 5,000,000 4,998,466 5,210,507 03/31/10 ########
STATE FUND INSURANCE 059497AU1 BANC AMER COML MTG INC COML 5.381 01/15/49 5,000,000 5,008,819 5,164,880 03/31/10 ########
STATE FUND INSURANCE 05952CAB6 BANC AMER COML MTG TR 5.434 02/10/51 10,000,000 10,029,725 10,348,416 03/31/10 ########
STATE FUND INSURANCE 059511AB1 BANC AMER COML MTG TR 2007 2 5.634 04/10/49 5,000,000 5,010,268 5,189,020 03/31/10 ########
STATE FUND INSURANCE 060505BM5 BANK AMER CORP 5.375 06/15/14 5,000,000 4,980,753 5,241,462 03/31/10 ########
STATE FUND INSURANCE 06050BAG6 BANK AMER CORP MEDIUM TERM 2.100 04/30/12 12,000,000 11,992,406 12,215,537 03/31/10 ########
STATE FUND INSURANCE 06051GEB1 BANK OF AMERICA CORP 4.500 04/01/15 5,000,000 5,009,745 5,037,334 03/31/10 ########
STATE FUND INSURANCE 064149A64 BANK OF NOVA SCOTIA 3.400 01/22/15 5,000,000 4,993,842 5,023,866 03/31/10 ########
STATE FUND INSURANCE 084664BM2 BERKSHIRE HATHAWAY FIN 0.376 01/13/12 11,000,000 10,995,246 11,004,927 03/31/10 ########
STATE FUND INSURANCE 084670AU2 BERKSHIRE HATHAWAY INC 2.125 02/11/13 9,000,000 8,996,991 9,048,494 03/31/10 ########
STATE FUND INSURANCE 09247XAF8 BLACKROCK INC 2.250 12/10/12 5,000,000 5,006,742 5,042,250 03/31/10 ########
STATE FUND INSURANCE 097023BB0 BOEING CO 1.875 11/20/12 1,000,000 994,731 999,969 03/31/10    994,731
STATE FUND INSURANCE 120569AA6 BUNGE NA FINANCE LP 5.900 04/01/17 5,000,000 4,996,021 5,119,178 03/31/10 ########
STATE FUND INSURANCE 12189TBB9 BURLINGTON NORTHN SANTA FE 7.000 02/01/14 3,000,000 2,999,621 3,412,530 03/31/10 ########
STATE FUND INSURANCE 12189PAE2 BURLINGTON NORTHN SANTA FE RY 7.160 01/02/20 3,253,705 3,253,705 3,574,384 03/31/10 ########
STATE FUND INSURANCE 14040HAR6 CAPITAL ONE FINL CORP 6.750 09/15/17 5,000,000 4,979,853 5,462,369 03/31/10 ########
STATE FUND INSURANCE 149123BP5 CATERPILLAR INC 7.000 12/15/13 2,000,000 1,999,646 2,318,056 03/31/10 ########
STATE FUND INSURANCE 17314JAS2 CITIBANK NA 1.250 11/15/11 5,000,000 4,992,145 5,025,455 03/31/10 ########
STATE FUND INSURANCE 17313YAL5 CITIGROUP FUNDING INC 1.875 10/22/12 5,000,000 4,985,136 5,036,469 03/31/10 ########
STATE FUND INSURANCE 172967BJ9 CITIGROUP INC 6.000 02/21/12 5,000,000 4,999,650 5,308,752 03/31/10 ########
STATE FUND INSURANCE 172967EJ6 CITIGROUP INC 5.500 08/27/12 5,000,000 5,005,196 5,284,781 03/31/10 ########
STATE FUND INSURANCE 172967EY3 CITIGROUP INC 6.375 08/12/14 5,000,000 4,970,451 5,334,512 03/31/10 ########
STATE FUND INSURANCE 20030NAH4 COMCAST CORP NEW 5.450 11/15/10 5,000,000 5,001,327 5,127,017 03/31/10 ########
STATE FUND INSURANCE 20047QAA3 COMM MTG TR 5.540 06/10/46 1,008,694 1,006,655 1,012,682 03/31/10 ########
STATE FUND INSURANCE 20825CAR5 CONOCOPHILLIPS 5.750 02/01/19 5,000,000 4,996,445 5,449,045 03/31/10 ########
STATE FUND INSURANCE 20825TAA5 CONOCOPHILLIPS CDA FDG CO I 5.625 10/15/16 6,000,000 5,999,686 6,615,720 03/31/10 ########
STATE FUND INSURANCE 210805DP9 CONTINENTAL AIRLS 6.563 08/15/13 5,000,000 5,005,298 4,962,500 03/31/10 ########
STATE FUND INSURANCE 22546QAB3 CREDIT SUISSE NEW YORK 3.450 07/02/12 5,000,000 4,995,124 5,138,758 03/31/10 ########
STATE FUND INSURANCE 126408GL1 CSX CORP 5.750 03/15/13 5,000,000 4,993,069 5,425,873 03/31/10 ########
STATE FUND INSURANCE 126650BH2 CVS CAREMARK CORP 5.750 06/01/17 5,000,000 4,858,884 5,367,715 03/31/10 ########
STATE FUND INSURANCE 23636AAA9 DANSKE BANK A/S 3.750 04/01/15 5,000,000 4,985,031 4,968,525 03/31/10 ########
STATE FUND INSURANCE 250847DT4 DETROIT EDISON CO 5.200 10/15/12 5,000,000 4,982,398 5,329,271 03/31/10 ########
STATE FUND INSURANCE 257867AM3 DONNELLEY R R + SONS 4.950 04/01/14 5,000,000 4,916,452 5,025,000 03/31/10 ########
STATE FUND INSURANCE 263534BV0 DU PONT E I DE NEMOURS + CO 5.875 01/15/14 7,000,000 6,975,554 7,738,848 03/31/10 ########
STATE FUND INSURANCE 31331XVJ8 EDERAL FARM CR BKS 5.100 04/12/17 20,000,000 19,801,878 21,808,022 03/31/10 ########
STATE FUND INSURANCE 29358BAA0 ENSCO OFFSHORE CO 6.360 12/01/15 2,000,158 2,000,158 2,211,935 03/31/10 ########
STATE FUND INSURANCE 29364DAM2 ENTERGY ARK INC 4.500 06/01/10 3,000,000 2,999,556 3,011,348 03/31/10 ########
STATE FUND INSURANCE 31294JS58 FED HM LN PC POOL E00540 6.000 03/01/13 207,518 207,322 224,194 03/31/10    207,322
STATE FUND INSURANCE 31294JWU8 FED HM LN PC POOL E00659 6.000 04/01/14 231,193 231,126 249,831 03/31/10    231,126
STATE FUND INSURANCE 31283J3X7 FED HM LN PC POOL G10814 5.500 05/01/13 290,863 290,796 311,440 03/31/10    290,796
STATE FUND INSURANCE 3128M1N39 FED HM LN PC POOL G12310 5.500 08/01/21 3,754,639 3,757,719 4,017,318 03/31/10 ########
STATE FUND INSURANCE 3128MBUE5 FED HM LN PC POOL G13081 5.000 04/01/23 6,017,406 6,017,406 6,358,793 03/31/10 ########
STATE FUND INSURANCE 3128MMHW6 FED HM LN PC POOL G18244 4.500 02/01/23 6,150,124 6,046,046 6,395,812 03/31/10 ########
STATE FUND INSURANCE 3128PLB50 FED HM LN PC POOL J08160 5.000 12/01/22 5,731,956 5,725,524 6,058,910 03/31/10 ########
STATE FUND INSURANCE 31331S7B3 FEDERAL FARM CR BKS 4.450 09/23/13 7,000,000 6,883,843 7,556,478 03/31/10 ########
STATE FUND INSURANCE 31331YST8 FEDERAL FARM CREDIT BANK 3.400 02/07/13 10,000,000 10,000,000 10,420,797 03/31/10 ########
STATE FUND INSURANCE 3133XHZK1 FEDERAL HOME LN BANKS 4.750 12/16/16 15,000,000 14,899,809 16,103,139 03/31/10 ########
STATE FUND INSURANCE 3133XCUS0 FEDERAL HOME LN BKS 4.750 09/11/15 10,000,000 9,831,954 10,761,045 03/31/10 ########
STATE FUND INSURANCE 3133XJW20 FEDERAL HOME LN BKS 5.125 03/10/17 10,000,000 10,066,805 10,813,618 03/31/10 ########
STATE FUND INSURANCE 3133XS4S4 FEDERAL HOME LN BKS 3.625 09/16/11 5,000,000 4,995,985 5,202,050 03/31/10 ########
STATE FUND INSURANCE 3133XT4P8 FEDERAL HOME LN BKS 2.500 02/19/13 5,000,000 5,000,000 5,119,179 03/31/10 ########
STATE FUND INSURANCE 3128X33E1 FEDERAL HOME LN MTG CORP 5.050 01/26/15 10,000,000 9,984,661 10,962,570 03/31/10 ########
STATE FUND INSURANCE 3134A4DY7 FEDERAL HOME LN MTG CORP 5.625 03/15/11 10,000,000 10,008,869 10,490,378 03/31/10 ########
STATE FUND INSURANCE 3134A4FM1 FEDERAL HOME LN MTG CORP 6.000 06/15/11 15,000,000 14,998,398 15,970,086 03/31/10 ########
STATE FUND INSURANCE 3137EAAM1 FEDERAL HOME LN MTG CORP 5.000 02/16/17 10,000,000 9,919,190 10,871,151 03/31/10 ########
STATE FUND INSURANCE 3137EABW8 FEDERAL HOME LN MTG CORP 1.500 01/07/11 10,000,000 10,000,000 10,065,675 03/31/10 ########
STATE FUND INSURANCE 3133XMTE1 FEDERAL HOME LOAN BANK 4.875 10/30/17 4,000,000 4,221,831 4,236,022 03/31/10 ########
STATE FUND INSURANCE 3133XTXH4 FEDERAL HOME LOAN BANK 1.625 07/27/11 10,000,000 10,077,085 10,123,357 03/31/10 ########
STATE FUND INSURANCE 3133XUMR1 FEDERAL HOME LOAN BANK 3.250 09/12/14 10,000,000 10,142,851 10,252,021 03/31/10 ########
STATE FUND INSURANCE 31359MB69 FEDERAL NATL MTG ASSN 5.000 04/26/17 5,000,000 4,893,962 5,016,311 03/31/10 ########
STATE FUND INSURANCE 31359MGJ6 FEDERAL NATL MTG ASSN 6.625 11/15/10 10,000,000 10,027,139 10,374,523 03/31/10 ########
STATE FUND INSURANCE 31359MSL8 FEDERAL NATL MTG ASSN 4.375 07/17/13 20,000,000 19,741,319 21,494,424 03/31/10 ########
STATE FUND INSURANCE 31359MUT8 FEDERAL NATL MTG ASSN 4.125 04/15/14 10,000,000 9,738,866 10,699,641 03/31/10 ########
STATE FUND INSURANCE 31359MWJ8 FEDERAL NATL MTG ASSN 4.625 10/15/14 10,000,000 10,068,512 10,866,714 03/31/10 ########
STATE FUND INSURANCE 316773CF5 FIFTH THIRD BANCORP 5.450 01/15/17 5,000,000 4,988,199 4,879,128 03/31/10 ########
STATE FUND INSURANCE 31371KHR5 FNMA POOL 254140 5.500 01/01/17 2,813,842 2,807,885 3,027,122 03/31/10 ########
STATE FUND INSURANCE 31371KLN9 FNMA POOL 254233 5.000 03/01/17 1,581,639 1,554,896 1,686,080 03/31/10 ########
STATE FUND INSURANCE 31371KY47 FNMA POOL 254631 5.000 02/01/18 2,028,803 2,009,212 2,166,832 03/31/10 ########
STATE FUND INSURANCE 31373UF77 FNMA POOL 303590 7.000 11/01/10 20,328 20,329 20,579 03/31/10      20,329
STATE FUND INSURANCE 31386SVM6 FNMA POOL 572220 6.000 03/01/16 127,372 127,206 137,953 03/31/10    127,206
STATE FUND INSURANCE 31387SA48 FNMA POOL 592327 5.500 06/01/16 224,212 221,782 241,207 03/31/10    221,782
STATE FUND INSURANCE 31407YVG1 FNMA POOL 844915 4.500 11/01/20 4,256,004 4,234,673 4,460,777 03/31/10 ########
STATE FUND INSURANCE 31410GSV6 FNMA POOL 888932 4.500 11/01/22 3,001,140 3,001,140 3,145,537 03/31/10 ########
STATE FUND INSURANCE 31414CJX7 FNMA POOL 962078 4.500 03/01/23 6,734,681 6,700,211 7,005,209 03/31/10 ########
STATE FUND INSURANCE 349631AL5 FORTUNE BRANDS INC 5.375 01/15/16 3,000,000 2,988,411 3,057,915 03/31/10 ########
STATE FUND INSURANCE 363258AE4 GALENA CDO I CAYMAN IS NO 1LTD 1.618 01/11/13 4,000,000 400,000 400,000 03/31/10    400,000
STATE FUND INSURANCE 361448AG8 GATX CORP 8.750 05/15/14 5,000,000 4,998,975 5,728,039 03/31/10 ########
STATE FUND INSURANCE 36962G2L7 GENERAL ELEC CAP CORP 5.000 04/10/12 3,000,000 2,993,536 3,188,448 03/31/10 ########
STATE FUND INSURANCE 36962GM68 GENERAL ELEC CAP CORP 4.375 11/21/11 10,000,000 9,916,992 10,467,572 03/31/10 ########
STATE FUND INSURANCE 369604BC6 GENERAL ELEC CO 5.250 12/06/17 5,000,000 5,009,309 5,245,766 03/31/10 ########
STATE FUND INSURANCE 37247DAJ5 GENWORTH FINL INC 5.650 06/15/12 3,500,000 3,496,609 3,587,500 03/31/10 ########
STATE FUND INSURANCE 379336AC4 GLOBAL INDS LTD 7.710 02/15/25 3,000,000 3,000,000 3,252,390 03/31/10 ########
STATE FUND INSURANCE 38141GEV2 GOLDMAN SACHS GROUP 5.300 02/14/12 4,000,000 3,998,756 4,246,561 03/31/10 ########
STATE FUND INSURANCE 38141GEE0 GOLDMAN SACHS GROUP INC 5.350 01/15/16 5,000,000 4,966,789 5,329,167 03/31/10 ########
STATE FUND INSURANCE 416515AT1 HARTFORD FINL SVCS GROUP INC 5.375 03/15/17 5,000,000 4,990,663 5,011,251 03/31/10 ########
STATE FUND INSURANCE 416515AU8 HARTFORD FINL SVCS GROUP INC 6.300 03/15/18 5,000,000 5,004,207 5,243,184 03/31/10 ########
STATE FUND INSURANCE 40429CFZ0 HSBC FIN CORP 5.900 06/19/12 4,000,000 3,995,602 4,306,971 03/31/10 ########
STATE FUND INSURANCE 459745FS9 INTERNATIONAL LEASE FIN CORP 5.125 11/01/10 5,000,000 4,997,686 5,000,000 03/31/10 ########
STATE FUND INSURANCE 46625MRA9 J P MORGAN CHASE COML MTG SECS 4.200 07/12/35 2,295,312 2,304,211 2,334,356 03/31/10 ########
STATE FUND INSURANCE 476556CW3 JERSEY CENT PWR + LT CO 5.650 06/01/17 3,000,000 2,992,498 3,164,899 03/31/10 ########
STATE FUND INSURANCE 46630EAA8 JP MORGAN CHASE 5.279 12/12/43 2,961,741 2,961,740 3,033,283 03/31/10 ########
STATE FUND INSURANCE 46625HHB9 JPMORGAN CHASE + CO 4.750 05/01/13 4,000,000 3,992,194 4,255,581 03/31/10 ########
STATE FUND INSURANCE 46625HHQ6 JPMORGAN CHASE + CO 4.950 03/25/20 5,000,000 5,016,618 4,951,332 03/31/10 ########
STATE FUND INSURANCE 481247AK0 JPMORGAN CHASE + CO FDIC 2.200 06/15/12 7,000,000 6,997,104 7,139,545 03/31/10 ########
STATE FUND INSURANCE 482439AA4 KCT INTERMODAL TRANSN CORP 6.884 08/01/18 2,581,867 2,581,867 2,748,146 03/31/10 ########
STATE FUND INSURANCE 49327WAC6 KEYBANK NATL ASSN CLEVELAND OH 5.500 09/17/12 5,000,000 4,999,656 5,260,824 03/31/10 ########
STATE FUND INSURANCE 49327XAB6 KEYBANK NATL ASSN MTN 5.450 03/03/16 5,000,000 4,999,289 4,858,150 03/31/10 ########
STATE FUND INSURANCE 50075NAB0 KRAFT FOODS INC 5.625 11/01/11 5,000,000 5,139,940 5,319,350 03/31/10 ########
STATE FUND INSURANCE 52517P2K6 LEHMAN BROTHERS HLDGS INC 5.500 05/25/10 5,000,000 1,000,000 1,150,000 03/31/10 ########
STATE FUND INSURANCE 52517PD57 LEHMAN BROTHERS HLDGS INC 5.000 01/14/11 4,000,000 782,160 910,000 03/31/10    782,160
STATE FUND INSURANCE 532457BE7 LILLY ELI + CO 4.200 03/06/14 2,000,000 1,999,293 2,114,110 03/31/10 ########
STATE FUND INSURANCE 539830AS8 LOCKHEED MARTIN CORP 4.121 03/14/13 2,000,000 1,980,037 2,095,774 03/31/10 ########
STATE FUND INSURANCE 565849AF3 MARATHON OIL CORP 5.900 03/15/18 5,000,000 4,986,944 5,314,050 03/31/10 ########
STATE FUND INSURANCE 57629WBH2 MASSMUTUAL GLOBAL FUNDING 3.625 07/16/12 2,000,000 1,998,824 2,061,514 03/31/10 ########
STATE FUND INSURANCE 581557AU9 MCKESSON CORP NEW 5.250 03/01/13 3,000,000 2,993,867 3,188,801 03/31/10 ########
STATE FUND INSURANCE 589331AN7 MERCK + CO INC 5.000 06/30/19 2,000,000 1,988,346 2,089,399 03/31/10 ########
STATE FUND INSURANCE 59018YJ69 MERRILL LYNCH + CO INC 6.400 08/28/17 5,000,000 4,994,592 5,259,688 03/31/10 ########
STATE FUND INSURANCE 59156RAG3 METLIFE INC 5.000 11/24/13 5,000,000 4,982,466 5,310,815 03/31/10 ########
STATE FUND INSURANCE 61746SBS7 MORGAN STANLEY 5.050 01/21/11 4,000,000 3,998,345 4,135,212 03/31/10 ########
STATE FUND INSURANCE 61747YCJ2 MORGAN STANLEY 5.625 09/23/19 5,000,000 4,980,330 4,960,003 03/31/10 ########
STATE FUND INSURANCE 638612AE1 NATIONWIDE FINANCIAL SER 6.250 11/15/11 5,000,000 5,066,694 5,253,117 03/31/10 ########
STATE FUND INSURANCE 63534PAE7 NATNL CITY BK CLEVELAND OH 5.250 12/15/16 5,000,000 4,996,884 5,117,157 03/31/10 ########
STATE FUND INSURANCE 655844BB3 NORFOLK SOUTHN CORP 5.750 01/15/16 2,000,000 1,992,669 2,139,001 03/31/10 ########
STATE FUND INSURANCE 668074AT4 NORTHWESTERN CORP 6.340 04/01/19 5,000,000 4,996,994 5,282,181 03/31/10 ########
STATE FUND INSURANCE 66989GAA8 NOVARTIS SECS INVT LTD 5.125 02/10/19 5,000,000 4,992,111 5,272,536 03/31/10 ########
STATE FUND INSURANCE 674599BW4 OCCIDENTAL PETE CORP 7.000 11/01/13 5,000,000 4,986,351 5,798,113 03/31/10 ########
STATE FUND INSURANCE 69371RJ64 PACCAR FINL CORP MTN BK ENT 3.751 01/12/11 5,000,000 5,000,000 5,081,222 03/31/10 ########
STATE FUND INSURANCE 69373UAB3 PACCAR INC 6.375 02/15/12 1,000,000 999,326 1,084,296 03/31/10    999,326
STATE FUND INSURANCE 73278MAA1 POOLED FDG TR I 2.740 02/15/12 5,000,000 5,104,257 5,114,827 03/31/10 ########
STATE FUND INSURANCE 69352JAL1 PPL ENERGY SUPPLY LLC 6.500 05/01/18 3,000,000 2,991,886 3,186,374 03/31/10 ########
STATE FUND INSURANCE 69352BAC8 PPL MONT LLC 8.903 07/02/20 2,954,408 2,954,408 3,309,458 03/31/10 ########
STATE FUND INSURANCE 7425A0BD1 PRINCIPAL LIFE GLOBAL FDG MTN 5.125 10/15/13 5,000,000 4,997,398 5,278,964 03/31/10 ########
STATE FUND INSURANCE 74367FAN8 PROTECTIVE LIFE SECD TRS SECD 5.450 09/28/12 5,000,000 4,994,281 5,350,916 03/31/10 ########
STATE FUND INSURANCE 74432QAJ4 PRUDENTIAL FINL INC 5.500 03/15/16 5,000,000 4,938,937 5,196,270 03/31/10 ########
STATE FUND INSURANCE 779382AG5 ROWAN COS INC 5.880 03/15/12 2,725,000 2,725,000 2,867,954 03/31/10 ########
STATE FUND INSURANCE 78387GAS2 SBC COMMUNICATIONS INC 5.300 11/15/10 5,000,000 4,998,645 5,133,365 03/31/10 ########
STATE FUND INSURANCE 806605AJ0 SCHERING PLOUGH CORP 6.000 09/15/17 5,000,000 4,981,758 5,623,161 03/31/10 ########
STATE FUND INSURANCE 78442FDP0 SLM CORP 4.500 07/26/10 5,000,000 4,999,111 5,025,000 03/31/10 ########
STATE FUND INSURANCE 844895AR3 SOUTHWEST GAS CORP 8.375 02/15/11 4,000,000 3,999,465 4,180,769 03/31/10 ########
STATE FUND INSURANCE 792860AJ7 ST PAUL TRAVELERS COS INC 6.250 06/20/16 5,000,000 4,989,054 5,502,308 03/31/10 ########
STATE FUND INSURANCE 85771SAC0 STATOILHYDRO ASA 2.900 10/15/14 2,000,000 1,997,240 1,994,829 03/31/10 ########
STATE FUND INSURANCE 8935268Y2 TRANSCANADA PIPELINES LTD 7.125 01/15/19 5,000,000 5,049,979 5,850,402 03/31/10 ########
STATE FUND INSURANCE 90520GAA4 UNION BK CALIF 5.950 05/11/16 5,000,000 5,002,611 5,197,739 03/31/10 ########
STATE FUND INSURANCE 907818CV8 UNION PAC CORP 4.875 01/15/15 7,000,000 6,821,903 7,401,297 03/31/10 ########
STATE FUND INSURANCE 911312AH9 UNITED PARCEL SVC INC 5.500 01/15/18 5,000,000 4,992,287 5,450,082 03/31/10 ########
STATE FUND INSURANCE 912828KS8 UNITED STATE TREAS NTS 2.625 02/29/16 5,000,000 5,008,308 4,915,250 03/31/10 ########
STATE FUND INSURANCE 912828DM9 UNITED STATES TREAS NTS 4.000 02/15/15 20,000,000 19,300,546 21,412,001 03/31/10 ########
STATE FUND INSURANCE 912828HH6 UNITED STATES TREAS NTS 4.250 11/15/17 15,000,000 15,139,233 15,868,200 03/31/10 ########
STATE FUND INSURANCE 912828HZ6 UNITED STATES TREAS NTS 3.875 05/15/18 15,000,000 15,037,300 15,376,800 03/31/10 ########
STATE FUND INSURANCE 912828JH4 UNITED STATES TREAS NTS 4.000 08/15/18 10,000,000 10,063,722 10,300,000 03/31/10 ########
STATE FUND INSURANCE 912828KD1 UNITED STATES TREAS NTS 2.750 02/15/19 10,000,000 9,904,762 9,281,200 03/31/10 ########
STATE FUND INSURANCE 91159HGU8 US BANCORP 3.150 03/04/15 2,000,000 1,996,573 1,994,441 03/31/10 ########
STATE FUND INSURANCE 912828KR0 US TREASURY N/B 2.625 04/30/16 10,000,000 9,843,736 9,789,900 03/31/10 ########
STATE FUND INSURANCE 912828KW9 US TREASURY N/B 3.250 05/31/16 5,000,000 4,899,800 5,063,750 03/31/10 ########
STATE FUND INSURANCE 912828LG3 US TREASURY N/B 1.000 07/31/11 5,000,000 4,990,985 5,025,650 03/31/10 ########
STATE FUND INSURANCE 912828LH1 US TREASURY N/B 1.750 08/15/12 10,000,000 10,060,771 10,122,700 03/31/10 ########
STATE FUND INSURANCE 912828LJ7 US TREASURY N/B 3.625 08/15/19 10,000,000 9,939,817 9,877,500 03/31/10 ########
STATE FUND INSURANCE 912828MP2 US TREASURY N/B 3.625 02/15/20 5,000,000 4,894,316 4,914,050 03/31/10 ########
STATE FUND INSURANCE 92343VAC8 VERIZON COMMUNICATIONS INC 5.550 02/15/16 5,000,000 4,976,466 5,419,372 03/31/10 ########
STATE FUND INSURANCE 92344UAA3 VERIZON NEW JERSEY INC 5.875 01/17/12 3,000,000 3,054,379 3,188,679 03/31/10 ########
STATE FUND INSURANCE 929903CH3 WACHOVIA CORP NEW 5.625 10/15/16 5,000,000 4,987,445 5,176,484 03/31/10 ########
STATE FUND INSURANCE 94973VAM9 WELLPOINT INC 5.875 06/15/17 5,000,000 4,943,847 5,375,621 03/31/10 ########
STATE FUND INSURANCE 949746FS5 WELLS FARGO + CO NEW 4.625 04/15/14 5,000,000 4,913,060 5,141,497 03/31/10 ########
STATE FUND INSURANCE 949746NJ6 WELLS FARGO CO NEW 5.300 08/26/11 9,000,000 8,996,801 9,488,881 03/31/10 ########
STATE FUND INSURANCE 912828LC2 WI TREASURY N/B 2.625 07/31/14 5,000,000 4,981,725 5,068,750 03/31/10 ########
STATE FUND INSURANCE 912828LX6 WI TREASURY SEC 1.375 11/15/12 10,000,000 10,057,328 9,997,500 03/31/10 ########
STATE FUND INSURANCE 971807AD4 WILMINGTON TR CORP 8.500 04/02/18 2,000,000 2,000,000 1,997,406 03/31/10 ########
STATE FUND INSURANCE 983024AE0 WYETH 5.500 02/01/14 5,000,000 4,996,287 5,513,844 03/31/10 ########
STATE FUND INSURANCE 989701AU1 ZIONS BANCORPORATION 5.650 05/15/14 3,000,000 2,998,395 2,745,000 03/31/10 ########
STATE FUND INSURANCE 85799E9A5 STATE FUND BUILDING NA NA 25,512,033 25,512,033 25,512,033 03/31/10 ########
STATE FUND INSURANCE 055997910 BLACKROCK EQUITY INDEX FD B NA NA 644,147 90,406,677 112,158,830 03/31/10 ########
STATE FUND INSURANCE 8259909A4 SHORT TERM INVESTMENT POOL NA NA 24,703,096 24,703,096 24,703,096 03/31/10 ########
STATE FUND INSURANCE         996,168,785 1,072,514,618 1,137,830,026
SUBSEQUENT INJURY FUND 02635PSV6 AMERICAN GEN FIN CORP MTN 4.875 05/15/10 100,000 100,000 100,000 03/31/10    100,000
SUBSEQUENT INJURY FUND 52517PD57 LEHMAN BROTHERS HLDGS INC 5.000 01/14/11 100,000 19,554 22,750 03/31/10      19,554
SUBSEQUENT INJURY FUND 8259909A4 SHORT TERM INVESTMENT POOL NA NA 307,033 307,033 307,033 03/31/10    307,033
SUBSEQUENT INJURY FUND         507,033 426,587 429,783
OLD FUND INSURANCE 20047QAA3 COMM MTG TR 5.540 06/10/46 806,955 805,323 810,145 03/31/10    805,323
OLD FUND INSURANCE 31294JS58 FED HM LN PC POOL E00540 6.000 03/01/13 69,173 69,107 74,731 03/31/10      69,107
OLD FUND INSURANCE 31283J3X7 FED HM LN PC POOL G10814 5.500 05/01/13 156,619 156,582 167,699 03/31/10    156,582
OLD FUND INSURANCE 31374GX44 FNMA POOL 313999 6.000 02/01/13 104,601 104,452 112,719 03/31/10    104,452
OLD FUND INSURANCE 779382AG5 ROWAN COS INC 5.880 03/15/12 1,817,000 1,817,000 1,912,320 03/31/10 ########
OLD FUND INSURANCE 92344UAA3 VERIZON NEW JERSEY INC 5.875 01/17/12 1,000,000 1,009,653 1,062,893 03/31/10 ########
OLD FUND INSURANCE 8259909A4 SHORT TERM INVESTMENT POOL NA NA 8,612,638 8,612,638 8,612,638 03/31/10 ########
OLD FUND INSURANCE         12,566,985 12,574,756 12,753,146
ZORTMAN WATER 31359MEL3 FEDERAL NATL MTG ASSN 0.000 06/01/17 14,600,000 9,342,618 10,938,901 03/31/10 ########
ZORTMAN WATER 8259909A4 SHORT TERM INVESTMENT POOL NA NA 137,461 137,461 137,461 03/31/10    137,461
ZORTMAN WATER         14,737,461 9,480,079 11,076,363
GROUP BENEFITS 02003MBQ6 ALLSTATE LIFE GBL FDG SECD 5.375 04/30/13 1,000,000 999,384 1,088,429 03/31/10    999,384
GROUP BENEFITS 02635PTP8 AMERICAN GEN FIN CORP MTN 5.900 09/15/12 1,000,000 997,154 952,500 03/31/10    997,154
GROUP BENEFITS 06050BAG6 BANK AMER CORP MEDIUM TERM 2.100 04/30/12 2,700,000 2,699,481 2,748,496 03/31/10 ########
GROUP BENEFITS 17313YAL5 CITIGROUP FUNDING INC 1.875 10/22/12 2,000,000 1,994,055 2,014,587 03/31/10 ########
GROUP BENEFITS 31331YST8 FEDERAL FARM CREDIT BANK 3.400 02/07/13 4,500,000 4,500,000 4,689,359 03/31/10 ########
GROUP BENEFITS 3133XR4U1 FEDERAL HOME LN BKS 3.125 06/10/11 3,000,000 2,968,283 3,089,769 03/31/10 ########
GROUP BENEFITS 3133XS4S4 FEDERAL HOME LN BKS 3.625 09/16/11 3,000,000 2,997,591 3,121,230 03/31/10 ########
GROUP BENEFITS 3133XKSK2 FEDERAL HOME LOAN BKS 4.875 06/08/12 2,900,000 2,888,270 3,119,919 03/31/10 ########
GROUP BENEFITS 31398ASD5 FEDERAL NATL MTG ASSN 3.875 07/12/13 5,000,000 4,948,901 5,313,553 03/31/10 ########
GROUP BENEFITS 36967HAD9 GENERAL ELEC CAP CORP FDIC GTD 3.000 12/09/11 3,000,000 2,995,149 3,101,334 03/31/10 ########
GROUP BENEFITS 37247DAJ5 GENWORTH FINL INC 5.650 06/15/12 900,000 899,128 922,500 03/31/10    899,128
GROUP BENEFITS 40429CFZ0 HSBC FIN CORP 5.900 06/19/12 1,000,000 998,900 1,076,743 03/31/10    998,900
GROUP BENEFITS 46625HHB9 JPMORGAN CHASE + CO 4.750 05/01/13 1,000,000 998,048 1,063,895 03/31/10    998,048
GROUP BENEFITS 74367FAN8 PROTECTIVE LIFE SECD TRS SECD 5.450 09/28/12 1,000,000 998,856 1,070,183 03/31/10    998,856
GROUP BENEFITS 8259909A4 SHORT TERM INVESTMENT POOL NA NA 12,069,315 12,069,315 12,069,315 03/31/10 ########
GROUP BENEFITS         44,069,315 43,952,515 45,441,812
CLARK FORK SITE RESP 06052AAA9 BANK OF AMERICA NA FDIC GTD 1.700 12/23/10 750,000 750,317 757,149 03/31/10    750,317
CLARK FORK SITE RESP 084670AU2 BERKSHIRE HATHAWAY INC 2.125 02/11/13 600,000 599,799 603,233 03/31/10    599,799
CLARK FORK SITE RESP 31359YBR7 FEDERAL HOME LN MTG CORP 0.000 01/15/13 1,000,000 942,815 943,013 03/31/10    942,815
CLARK FORK SITE RESP 3133XWKV0 FEDERAL HOME LOAN BANK 2.375 03/14/14 1,000,000 1,004,816 993,298 03/31/10 ########
CLARK FORK SITE RESP 31359YBU0 FEDERAL NATL MTG ASSN DEB 0.000 07/15/14 1,000,000 891,997 880,515 03/31/10    891,997
CLARK FORK SITE RESP 31358C7A8 FEDERAL NATL MTG ASSN DEB STRP 0.000 11/15/11 1,000,000 966,321 977,688 03/31/10    966,321
CLARK FORK SITE RESP 31358C7C4 FEDERAL NATL MTG ASSN DEB STRP 0.000 11/15/12 271,000 252,643 257,458 03/31/10    252,643
CLARK FORK SITE RESP 31358C7E0 FEDERAL NATL MTG ASSN DEB STRP 0.000 11/15/13 1,000,000 911,093 913,126 03/31/10    911,093
CLARK FORK SITE RESP 3128X8TZ5 FREDDIE MAC 2.500 04/08/13 1,750,000 1,750,000 1,764,314 03/31/10 ########
CLARK FORK SITE RESP 36962G2N3 GENERAL ELEC CAP CORP 0.320 08/15/11 900,000 840,845 898,380 03/31/10    840,845
CLARK FORK SITE RESP 481247AD6 JPMORGAN CHASE+CO FDIC GTD TLG 2.625 12/01/10 750,000 755,152 761,168 03/31/10    755,152
CLARK FORK SITE RESP 532457BD9 LILLY ELI + CO 3.550 03/06/12 500,000 499,672 520,150 03/31/10    499,672
CLARK FORK SITE RESP 61757UAA8 MORGAN STANLEY FDIC GTD TLGP 2.900 12/01/10 500,000 504,456 508,212 03/31/10    504,456
CLARK FORK SITE RESP 742732AE0 PROCTER + GAMBLE INTL FN 1.350 08/26/11 450,000 449,766 452,339 03/31/10    449,766
CLARK FORK SITE RESP 7591EAAA1 REGIONS BANK FDIC GTD TLGP 2.750 12/10/10 750,000 755,772 762,028 03/31/10    755,772
CLARK FORK SITE RESP 771196AN2 ROCHE HLDGS INC 4.500 03/01/12 500,000 498,314 526,999 03/31/10    498,314
CLARK FORK SITE RESP 812293AB4 SEARIVER MARITIME FINL HLDGS 0.000 09/01/12 950,000 888,978 893,000 03/31/10    888,978
CLARK FORK SITE RESP 912833JY7 UNITED STATES TRES SC STRP INT 0.000 05/15/12 1,500,000 1,452,946 1,470,045 03/31/10 ########
CLARK FORK SITE RESP 912828LW8 US TREASURY N/B 1.000 09/30/11 2,000,000 2,000,966 2,008,080 03/31/10 ########
CLARK FORK SITE RESP 912828KP4 US TREASURY T/B 1.375 05/15/12 1,800,000 1,786,580 1,811,142 03/31/10 ########
CLARK FORK SITE RESP 931142CL5 WAL MART STORES INC 4.250 04/15/13 600,000 623,645 640,886 03/31/10    623,645
CLARK FORK SITE RESP 8989909G3 TRUST FUNDS BOND POOL NA NA 73,969,561 70,000,000 74,406,834 03/31/10 ########
CLARK FORK SITE RESP 8259909A4 SHORT TERM INVESTMENT POOL NA NA 10,075,000 10,075,000 10,075,000 03/31/10 ########
CLARK FORK SITE RESP         103,615,561 99,201,894 103,824,056
BUTTE AREA ONE REST 084670AU2 BERKSHIRE HATHAWAY INC 2.125 02/11/13 200,000 199,933 201,078 03/31/10    199,933
BUTTE AREA ONE REST 31331GYP8 FEDERAL FARM CR BKS 2.125 06/18/12 800,000 800,053 814,706 03/31/10    800,053
BUTTE AREA ONE REST 3133XWKV0 FEDERAL HOME LOAN BANK 2.375 03/14/14 1,200,000 1,205,780 1,191,958 03/31/10 ########
BUTTE AREA ONE REST 3128X8TZ5 FREDDIE MAC 2.500 04/08/13 1,400,000 1,400,000 1,411,451 03/31/10 ########
BUTTE AREA ONE REST 36962G2N3 GENERAL ELEC CAP CORP 0.320 08/15/11 250,000 233,568 249,550 03/31/10    233,568
BUTTE AREA ONE REST 481247AG9 JPMORGAN CHASE + CO FDIC 1.650 02/23/11 800,000 799,860 808,892 03/31/10    799,860
BUTTE AREA ONE REST 481247AA2 JPMORGAN CHASE+CO FDIC GTD TLG 3.125 12/01/11 500,000 509,757 518,096 03/31/10    509,757
BUTTE AREA ONE REST 532457BD9 LILLY ELI + CO 3.550 03/06/12 200,000 199,869 208,060 03/31/10    199,869
BUTTE AREA ONE REST 742732AE0 PROCTER + GAMBLE INTL FN 1.350 08/26/11 200,000 199,896 201,039 03/31/10    199,896
BUTTE AREA ONE REST 771196AN2 ROCHE HLDGS INC 4.500 03/01/12 200,000 199,325 210,800 03/31/10    199,325
BUTTE AREA ONE REST 812293AB4 SEARIVER MARITIME FINL HLDGS 0.000 09/01/12 200,000 187,153 188,000 03/31/10    187,153
BUTTE AREA ONE REST 912833JY7 UNITED STATES TRES SC STRP INT 0.000 05/15/12 500,000 484,315 490,015 03/31/10    484,315
BUTTE AREA ONE REST 912828LW8 US TREASURY N/B 1.000 09/30/11 1,000,000 1,000,483 1,004,040 03/31/10 ########
BUTTE AREA ONE REST 912828KP4 US TREASURY T/B 1.375 05/15/12 500,000 496,272 503,095 03/31/10    496,272
BUTTE AREA ONE REST 931142CL5 WAL MART STORES INC 4.250 04/15/13 200,000 207,882 213,629 03/31/10    207,882
BUTTE AREA ONE REST 8989909G3 TRUST FUNDS BOND POOL NA NA 14,853,196 14,000,000 14,941,001 03/31/10 ########
BUTTE AREA ONE REST 8259909A4 SHORT TERM INVESTMENT POOL NA NA 6,874,868 6,874,868 6,874,868 03/31/10 ########
BUTTE AREA ONE REST         29,878,064 28,999,014 30,030,277
LITIGATION COST RECVR 8259909A4 SHORT TERM INVESTMENT POOL NA NA 1,754,550 1,754,550 1,754,550 03/31/10 ########
LITIGATION COST RECVR         1,754,550 1,754,550 1,754,550
CLARK FORK RIVER RS 084670AU2 BERKSHIRE HATHAWAY INC 2.125 02/11/13 100,000 99,967 100,539 03/31/10      99,967
CLARK FORK RIVER RS 31331GYP8 FEDERAL FARM CR BKS 2.125 06/18/12 600,000 600,040 611,030 03/31/10    600,040
CLARK FORK RIVER RS 3133XWKV0 FEDERAL HOME LOAN BANK 2.375 03/14/14 700,000 703,371 695,309 03/31/10    703,371
CLARK FORK RIVER RS 3128X8TZ5 FREDDIE MAC 2.500 04/08/13 1,250,000 1,250,000 1,260,224 03/31/10 ########
CLARK FORK RIVER RS 36962G2N3 GENERAL ELEC CAP CORP 0.320 08/15/11 250,000 233,568 249,550 03/31/10    233,568
CLARK FORK RIVER RS 481247AG9 JPMORGAN CHASE + CO FDIC 1.650 02/23/11 800,000 799,860 808,892 03/31/10    799,860
CLARK FORK RIVER RS 481247AA2 JPMORGAN CHASE+CO FDIC GTD TLG 3.125 12/01/11 505,000 514,854 523,277 03/31/10    514,854
CLARK FORK RIVER RS 532457BD9 LILLY ELI + CO 3.550 03/06/12 200,000 199,869 208,060 03/31/10    199,869
CLARK FORK RIVER RS 742732AE0 PROCTER + GAMBLE INTL FN 1.350 08/26/11 200,000 199,896 201,039 03/31/10    199,896
CLARK FORK RIVER RS 771196AN2 ROCHE HLDGS INC 4.500 03/01/12 200,000 199,325 210,800 03/31/10    199,325
CLARK FORK RIVER RS 812293AB4 SEARIVER MARITIME FINL HLDGS 0.000 09/01/12 200,000 187,153 188,000 03/31/10    187,153
CLARK FORK RIVER RS 912833JY7 UNITED STATES TRES SC STRP INT 0.000 05/15/12 500,000 484,315 490,015 03/31/10    484,315
CLARK FORK RIVER RS 912828LW8 US TREASURY N/B 1.000 09/30/11 1,000,000 1,000,483 1,004,040 03/31/10 ########
CLARK FORK RIVER RS 912828KP4 US TREASURY T/B 1.375 05/15/12 500,000 496,272 503,095 03/31/10    496,272
CLARK FORK RIVER RS 931142CL5 WAL MART STORES INC 4.250 04/15/13 200,000 207,882 213,629 03/31/10    207,882
CLARK FORK RIVER RS 8989909G3 TRUST FUNDS BOND POOL NA NA 16,974,118 16,000,000 17,074,460 03/31/10 ########
CLARK FORK RIVER RS 8259909A4 SHORT TERM INVESTMENT POOL NA NA 4,583,733 4,583,733 4,583,733 03/31/10 ########
CLARK FORK RIVER RS         28,762,851 27,760,589 28,925,692
SMELTER HILL UPLOAD 084670AU2 BERKSHIRE HATHAWAY INC 2.125 02/11/13 100,000 99,967 100,539 03/31/10      99,967
SMELTER HILL UPLOAD 31331GYP8 FEDERAL FARM CR BKS 2.125 06/18/12 600,000 600,040 611,030 03/31/10    600,040
SMELTER HILL UPLOAD 3133XWKV0 FEDERAL HOME LOAN BANK 2.375 03/14/14 600,000 602,890 595,979 03/31/10    602,890
SMELTER HILL UPLOAD 3128X8TZ5 FREDDIE MAC 2.500 04/08/13 600,000 600,000 604,908 03/31/10    600,000
SMELTER HILL UPLOAD 36962G2N3 GENERAL ELEC CAP CORP 0.320 08/15/11 100,000 93,427 99,820 03/31/10      93,427
SMELTER HILL UPLOAD 481247AG9 JPMORGAN CHASE + CO FDIC 1.650 02/23/11 400,000 399,930 404,446 03/31/10    399,930
SMELTER HILL UPLOAD 481247AA2 JPMORGAN CHASE+CO FDIC GTD TLG 3.125 12/01/11 250,000 254,878 259,048 03/31/10    254,878
SMELTER HILL UPLOAD 532457BD9 LILLY ELI + CO 3.550 03/06/12 100,000 99,934 104,030 03/31/10      99,934
SMELTER HILL UPLOAD 742732AE0 PROCTER + GAMBLE INTL FN 1.350 08/26/11 150,000 149,922 150,780 03/31/10    149,922
SMELTER HILL UPLOAD 771196AN2 ROCHE HLDGS INC 4.500 03/01/12 100,000 99,663 105,400 03/31/10      99,663
SMELTER HILL UPLOAD 812293AB4 SEARIVER MARITIME FINL HLDGS 0.000 09/01/12 100,000 93,577 94,000 03/31/10      93,577
SMELTER HILL UPLOAD 912833JY7 UNITED STATES TRES SC STRP INT 0.000 05/15/12 500,000 484,315 490,015 03/31/10    484,315
SMELTER HILL UPLOAD 912828LW8 US TREASURY N/B 1.000 09/30/11 1,000,000 1,000,483 1,004,040 03/31/10 ########
SMELTER HILL UPLOAD 912828KP4 US TREASURY T/B 1.375 05/15/12 200,000 198,509 201,238 03/31/10    198,509
SMELTER HILL UPLOAD 8989909G3 TRUST FUNDS BOND POOL NA NA 2,835,327 2,675,000 2,852,088 03/31/10 ########
SMELTER HILL UPLOAD 8259909A4 SHORT TERM INVESTMENT POOL NA NA 5,873,365 5,873,365 5,873,365 03/31/10 ########
SMELTER HILL UPLOAD         13,508,692 13,325,900 13,550,724
PERMANENT COAL TRUST 8989909G3 TRUST FUNDS BOND POOL NA NA 324,646,175 313,514,591 326,565,327 03/31/10 ########
PERMANENT COAL TRUST 7149909A8 IN-STATE LOANS NA NA 204,543,898 204,543,898 204,543,898 03/31/10 ########
PERMANENT COAL TRUST 8259909A4 SHORT TERM INVESTMENT POOL NA NA 13,264,966 13,264,966 13,264,966 03/31/10 ########
PERMANENT COAL TRUST         542,455,039 531,323,455 544,374,191
REAL PROPERTY TRUST 8989909G3 TRUST FUNDS BOND POOL NA NA 5,213,898 5,233,884 5,244,720 03/31/10 ########
REAL PROPERTY TRUST 8259909A4 SHORT TERM INVESTMENT POOL NA NA 296,141 296,141 296,141 03/31/10    296,141
REAL PROPERTY TRUST         5,510,039 5,530,026 5,540,861
RESOURCE INDEMNITY TRUST 8989909G3 TRUST FUNDS BOND POOL NA NA 104,735,000 99,999,976 105,354,143 03/31/10 ########
RESOURCE INDEMNITY TRUST 8259909A4 SHORT TERM INVESTMENT POOL NA NA 23,133 23,133 23,133 03/31/10      23,133
RESOURCE INDEMNITY TRUST     104,758,133 100,023,109 105,377,276
PARK ACQUISITION 8989909G3 TRUST FUNDS BOND POOL NA NA 20,001,164 19,570,586 20,119,402 03/31/10 ########
PARK ACQUISITION 8259909A4 SHORT TERM INVESTMENT POOL NA NA 244,071 244,071 244,071 03/31/10    244,071
PARK ACQUISITION         20,245,235 19,814,657 20,363,473
WILDLIFE HABITAT 8989909G3 TRUST FUNDS BOND POOL NA NA 8,327,008 8,329,265 8,376,234 03/31/10 ########
WILDLIFE HABITAT 8259909A4 SHORT TERM INVESTMENT POOL NA NA 468,570 468,570 468,570 03/31/10    468,570
WILDLIFE HABITAT         8,795,578 8,797,835 8,844,804
PARK ACQUISITION 8989909G3 TRUST FUNDS BOND POOL NA NA 461,430,030 444,153,456 464,157,783 03/31/10 ########
PARK ACQUISITION 8259909A4 SHORT TERM INVESTMENT POOL NA NA 8,448,526 8,448,526 8,448,526 03/31/10 ########
PARK ACQUISITION         469,878,555 452,601,982 472,606,308
NOXIOUS WEEDS 02635PSV6 AMERICAN GEN FIN CORP MTN 4.875 05/15/10 200,000 199,999 200,000 03/31/10    199,999
NOXIOUS WEEDS 3133XHPH9 FEDERAL HOME LOAN BANK 4.875 11/18/11 400,000 399,728 425,370 03/31/10    399,728
NOXIOUS WEEDS 427866AN8 HERSHEY FOODS CORP 5.300 09/01/11 200,000 199,889 210,826 03/31/10    199,889
NOXIOUS WEEDS 52517PD57 LEHMAN BROTHERS HLDGS INC 5.000 01/14/11 200,000 39,108 45,500 03/31/10      39,108
NOXIOUS WEEDS 92344UAA3 VERIZON NEW JERSEY INC 5.875 01/17/12 250,000 252,413 265,723 03/31/10    252,413
NOXIOUS WEEDS 949746NJ6 WELLS FARGO CO NEW 5.300 08/26/11 200,000 199,901 210,864 03/31/10    199,901
NOXIOUS WEEDS 8989909G3 TRUST FUNDS BOND POOL NA NA 8,903,668 8,629,783 8,956,303 03/31/10 ########
NOXIOUS WEEDS 8259909A4 SHORT TERM INVESTMENT POOL NA NA 212,576 212,576 212,576 03/31/10    212,576
NOXIOUS WEEDS         10,566,245 10,133,398 10,527,162
TOBACCO TRUST 8989909G3 TRUST FUNDS BOND POOL NA NA 110,646,569 109,077,772 111,300,659 03/31/10 ########
TOBACCO TRUST 8259909A4 SHORT TERM INVESTMENT POOL NA NA 127,796 127,796 127,796 03/31/10    127,796
TOBACCO TRUST         110,774,366 109,205,568 111,428,455
CULTURAL TRUST 8989909G3 TRUST FUNDS BOND POOL NA NA 11,202,164 11,024,349 11,268,386 03/31/10 ########
CULTURAL TRUST 8259909A4 SHORT TERM INVESTMENT POOL NA NA 146,665 146,665 146,665 03/31/10    146,665
CULTURAL TRUST         11,348,830 11,171,015 11,415,052
REGIONAL WATER FUND 8989909G3 TRUST FUNDS BOND POOL NA NA 49,816,212 49,081,879 50,110,702 03/31/10 ########
REGIONAL WATER FUND 8259909A4 SHORT TERM INVESTMENT POOL NA NA 93,167 93,167 93,167 03/31/10      93,167
REGIONAL WATER FUND         49,909,379 49,175,046 50,203,869
TREASURE STATE ENDOWMENT 8989909G3 TRUST FUNDS BOND POOL NA NA 180,326,091 178,232,300 181,392,093 03/31/10 ########
TREASURE STATE ENDOWMENT 7149909A8 IN-STATE LOANS NA NA 1,602,358 1,602,358 1,602,358 03/31/10 ########
TREASURE STATE ENDOWMENT 8259909A4 SHORT TERM INVESTMENT POOL NA NA 179,929 179,929 179,929 03/31/10    179,929
TREASURE STATE ENDOWMENT     182,108,379 180,014,587 183,174,380
ECONOMIC DEVELOPMENT TRUST 8989909G3 TRUST FUNDS BOND POOL NA NA 45,631,305 45,289,091 45,901,056 03/31/10 ########
ECONOMIC DEVELOPMENT TRUST 8259909A4 SHORT TERM INVESTMENT POOL NA NA 94,037 94,037 94,037 03/31/10      94,037
ECONOMIC DEVELOPMENT TRUST     45,725,342 45,383,128 45,995,093
ZORTMAN TRUST 31359MEL3 FEDERAL NATL MTG ASSN 0.000 06/01/17 1,600,000 1,205,189 1,198,784 03/31/10 ########
ZORTMAN TRUST 912833KN9 UNITED STATES TRES SC STRP INT 0.000 08/15/17 1,590,000 1,307,378 1,225,747 03/31/10 ########
ZORTMAN TRUST 912833KP4 UNITED STATES TRES SC STRP INT 0.000 11/15/17 6,300,000 4,449,126 4,790,772 03/31/10 ########
ZORTMAN TRUST 8259909A4 SHORT TERM INVESTMENT POOL NA NA 26,756 26,756 26,756 03/31/10      26,756
ZORTMAN TRUST         9,516,756 6,988,449 7,242,058
PUBLIC EMPLOYEES RETIREMENT 7619959J0 RETIREMENT FUNDS BOND POOL NA NA 878,206,300 893,496,301 919,257,588 03/31/10 ########
PUBLIC EMPLOYEES RETIREMENT 10399W9G4 BOZEMAN PROPERTY NA NA 1,036,944 1,036,944 1,061,827 03/31/10 ########
PUBLIC EMPLOYEES RETIREMENT 1309919A2 CALIFORNIA STREET PROP NA NA 102,796 102,796 110,695 03/31/10    102,796
PUBLIC EMPLOYEES RETIREMENT 6219919C4 MT COLONIAL DRIVE NA NA 3,630,496 3,630,496 3,897,895 03/31/10 ########
PUBLIC EMPLOYEES RETIREMENT 6549919B6 NINTH AVENUE NA NA 514,749 514,749 579,626 03/31/10    514,749
PUBLIC EMPLOYEES RETIREMENT 6629939B2 NORTH PARK AVENUE NA NA 3,470,419 3,470,419 3,294,657 03/31/10 ########
PUBLIC EMPLOYEES RETIREMENT 6129909D5 MONTANA MORTGAGES NA NA 20,274,707 20,274,707 19,935,126 03/31/10 ########
PUBLIC EMPLOYEES RETIREMENT 61299R995 MONTANA REAL ESTATE POOL NA NA 2,530,181 236,425,000 159,808,473 03/31/10 ########
PUBLIC EMPLOYEES RETIREMENT 61199A9S1 MONTANA PRIVATE EQUITY POOL NA NA 2,652,194 333,597,330 414,817,797 03/31/10 ########
PUBLIC EMPLOYEES RETIREMENT 612991950 MONTANA DOMESTIC EQUITY POOL NA NA 9,865,464 660,521,116 1,305,421,494 03/31/10 ########
PUBLIC EMPLOYEES RETIREMENT 612991919 MONTANA INTERNATIONAL POOL NA NA 4,431,451 433,953,000 619,364,902 03/31/10 ########
PUBLIC EMPLOYEES RETIREMENT 8259909A4 SHORT TERM INVESTMENT POOL NA NA 46,257,790 46,257,790 46,257,790 03/31/10 ########
PUBLIC EMPLOYEES RETIREMENT     972,973,491 2,633,280,647 3,493,807,871
POLICE RETIREMENT 7619959J0 RETIREMENT FUNDS BOND POOL NA NA 48,369,682 49,376,172 50,630,697 03/31/10 ########
POLICE RETIREMENT 61299R995 MONTANA REAL ESTATE POOL NA NA 135,690 12,551,000 8,570,318 03/31/10 ########
POLICE RETIREMENT 61199A9S1 MONTANA PRIVATE EQUITY POOL NA NA 142,802 18,326,901 22,334,988 03/31/10 ########
POLICE RETIREMENT 612991950 MONTANA DOMESTIC EQUITY POOL NA NA 530,529 45,284,664 70,200,888 03/31/10 ########
POLICE RETIREMENT 612991919 MONTANA INTERNATIONAL POOL NA NA 237,726 24,986,175 33,225,958 03/31/10 ########
POLICE RETIREMENT 8259909A4 SHORT TERM INVESTMENT POOL NA NA 1,825,013 1,825,013 1,825,013 03/31/10 ########
POLICE RETIREMENT         51,241,442 152,349,925 186,787,862
GAME WARDENS RETIREMENT 7619959J0 RETIREMENT FUNDS BOND POOL NA NA 19,342,218 19,917,321 20,246,359 03/31/10 ########
GAME WARDENS RETIREMENT 61299R995 MONTANA REAL ESTATE POOL NA NA 55,086 5,056,000 3,479,301 03/31/10 ########
GAME WARDENS RETIREMENT 61199A9S1 MONTANA PRIVATE EQUITY POOL NA NA 57,031 7,703,885 8,919,979 03/31/10 ########
GAME WARDENS RETIREMENT 612991950 MONTANA DOMESTIC EQUITY POOL NA NA 215,728 19,099,769 28,545,581 03/31/10 ########
GAME WARDENS RETIREMENT 612991919 MONTANA INTERNATIONAL POOL NA NA 95,042 10,546,561 13,283,603 03/31/10 ########
GAME WARDENS RETIREMENT 8259909A4 SHORT TERM INVESTMENT POOL NA NA 2,041,720 2,041,720 2,041,720 03/31/10 ########
GAME WARDENS RETIREMENT     21,806,824 64,365,257 76,516,543
SHERIFFS RETIREMENT 7619959J0 RETIREMENT FUNDS BOND POOL NA NA 45,967,413 46,775,417 48,116,135 03/31/10 ########
SHERIFFS RETIREMENT 61299R995 MONTANA REAL ESTATE POOL NA NA 130,603 12,099,000 8,249,028 03/31/10 ########
SHERIFFS RETIREMENT 61199A9S1 MONTANA PRIVATE EQUITY POOL NA NA 135,690 17,433,194 21,222,613 03/31/10 ########
SHERIFFS RETIREMENT 612991950 MONTANA DOMESTIC EQUITY POOL NA NA 509,489 39,414,908 67,416,747 03/31/10 ########
SHERIFFS RETIREMENT 612991919 MONTANA INTERNATIONAL POOL NA NA 226,278 23,272,000 31,625,967 03/31/10 ########
SHERIFFS RETIREMENT 8259909A4 SHORT TERM INVESTMENT POOL NA NA 4,225,105 4,225,105 4,225,105 03/31/10 ########
SHERIFFS RETIREMENT         51,194,577 143,219,625 180,855,594
JUDGES RETIREMENT 7619959J0 RETIREMENT FUNDS BOND POOL NA NA 14,054,597 14,528,523 14,711,572 03/31/10 ########
JUDGES RETIREMENT 61299R995 MONTANA REAL ESTATE POOL NA NA 39,878 3,703,000 2,518,741 03/31/10 ########
JUDGES RETIREMENT 61199A9S1 MONTANA PRIVATE EQUITY POOL NA NA 41,411 5,164,161 6,476,985 03/31/10 ########
JUDGES RETIREMENT 612991950 MONTANA DOMESTIC EQUITY POOL NA NA 156,218 10,959,565 20,671,103 03/31/10 ########
JUDGES RETIREMENT 612991919 MONTANA INTERNATIONAL POOL NA NA 68,435 6,745,000 9,564,818 03/31/10 ########
JUDGES RETIREMENT 8259909A4 SHORT TERM INVESTMENT POOL NA NA 1,119,069 1,119,069 1,119,069 03/31/10 ########
JUDGES RETIREMENT         15,479,609 42,219,318 55,062,288
HIGHWAY PATROL RETIREMENT 7619959J0 RETIREMENT FUNDS BOND POOL NA NA 22,521,063 23,083,161 23,573,798 03/31/10 ########
HIGHWAY PATROL RETIREMENT 61299R995 MONTANA REAL ESTATE POOL NA NA 63,249 5,893,000 3,994,894 03/31/10 ########
HIGHWAY PATROL RETIREMENT 61199A9S1 MONTANA PRIVATE EQUITY POOL NA NA 66,199 8,109,566 10,353,860 03/31/10 ########
HIGHWAY PATROL RETIREMENT 612991950 MONTANA DOMESTIC EQUITY POOL NA NA 247,103 17,322,641 32,697,226 03/31/10 ########
HIGHWAY PATROL RETIREMENT 612991919 MONTANA INTERNATIONAL POOL NA NA 110,082 10,756,629 15,385,703 03/31/10 ########
HIGHWAY PATROL RETIREMENT 8259909A4 SHORT TERM INVESTMENT POOL NA NA 1,152,946 1,152,946 1,152,946 03/31/10 ########
HIGHWAY PATROL RETIREMENT     24,160,642 66,317,943 87,158,427
TEACHERS RETIREMENT 7619959J0 RETIREMENT FUNDS BOND POOL NA NA 663,741,355 673,872,463 694,767,593 03/31/10 ########
TEACHERS RETIREMENT 10399W9G4 BOZEMAN PROPERTY NA NA 1,036,944 1,036,944 1,061,827 03/31/10 ########
TEACHERS RETIREMENT 1309919A2 CALIFORNIA STREET PROP NA NA 102,796 102,796 110,695 03/31/10    102,796
TEACHERS RETIREMENT 6219919C4 MT COLONIAL DRIVE NA NA 3,630,496 3,630,496 3,897,895 03/31/10 ########
TEACHERS RETIREMENT 6629939B2 NORTH PARK AVENUE NA NA 3,470,419 3,470,419 3,294,657 03/31/10 ########
TEACHERS RETIREMENT 6129909D5 MONTANA MORTGAGES NA NA 17,271,047 17,271,047 16,981,774 03/31/10 ########
TEACHERS RETIREMENT 61299R995 MONTANA REAL ESTATE POOL NA NA 1,907,017 178,584,000 120,448,912 03/31/10 ########
TEACHERS RETIREMENT 61199A9S1 MONTANA PRIVATE EQUITY POOL NA NA 2,010,982 251,910,970 314,528,709 03/31/10 ########
TEACHERS RETIREMENT 612991950 MONTANA DOMESTIC EQUITY POOL NA NA 7,409,589 490,937,385 980,454,317 03/31/10 ########
TEACHERS RETIREMENT 612991919 MONTANA INTERNATIONAL POOL NA NA 3,360,357 327,943,246 469,662,760 03/31/10 ########
TEACHERS RETIREMENT 8259909A4 SHORT TERM INVESTMENT POOL NA NA 28,477,292 28,477,292 28,477,292 03/31/10 ########
TEACHERS RETIREMENT         732,418,295 1,977,237,058 2,633,686,432
VOLUNTEER FIREFIGHTERS RETIREMENT 7619959J0 RETIREMENT FUNDS BOND POOL NA NA 5,963,551 6,171,766 6,242,314 03/31/10 ########
VOLUNTEER FIREFIGHTERS RETIREMENT 61299R995 MONTANA REAL ESTATE POOL NA NA 16,009 1,490,000 1,011,156 03/31/10 ########
VOLUNTEER FIREFIGHTERS RETIREMENT 61199A9S1 MONTANA PRIVATE EQUITY POOL NA NA 17,277 2,096,048 2,702,251 03/31/10 ########
VOLUNTEER FIREFIGHTERS RETIREMENT 612991950 MONTANA DOMESTIC EQUITY POOL NA NA 64,770 6,446,891 8,570,476 03/31/10 ########
VOLUNTEER FIREFIGHTERS RETIREMENT 612991919 MONTANA INTERNATIONAL POOL NA NA 28,663 3,009,408 4,006,161 03/31/10 ########
VOLUNTEER FIREFIGHTERS RETIREMENT 8259909A4 SHORT TERM INVESTMENT POOL NA NA 135,571 135,571 135,571 03/31/10    135,571
VOLUNTEER FIREFIGHTERS RETIREMENT     6,225,841 19,349,683 22,667,929
FIREFIGHTERS RETIREMENT 7619959J0 RETIREMENT FUNDS BOND POOL NA NA 47,355,746 48,265,618 49,569,365 03/31/10 ########
FIREFIGHTERS RETIREMENT 61299R995 MONTANA REAL ESTATE POOL NA NA 132,910 12,284,000 8,394,687 03/31/10 ########
FIREFIGHTERS RETIREMENT 61199A9S1 MONTANA PRIVATE EQUITY POOL NA NA 139,790 18,183,265 21,863,974 03/31/10 ########
FIREFIGHTERS RETIREMENT 612991950 MONTANA DOMESTIC EQUITY POOL NA NA 517,706 44,745,617 68,504,032 03/31/10 ########
FIREFIGHTERS RETIREMENT 612991919 MONTANA INTERNATIONAL POOL NA NA 234,500 24,830,900 32,775,008 03/31/10 ########
FIREFIGHTERS RETIREMENT 8259909A4 SHORT TERM INVESTMENT POOL NA NA 2,707,153 2,707,153 2,707,153 03/31/10 ########
FIREFIGHTERS RETIREMENT         51,087,804 151,016,552 183,814,219
UNIVERSITY OF MONTANA 31398AB43 FANNIE MAE 0.875 01/12/12 2,500,000 2,493,552 2,494,923 03/31/10 ########
UNIVERSITY OF MONTANA 31398AE24 FANNIE MAE 1.750 02/22/13 2,500,000 2,501,229 2,503,203 03/31/10 ########
UNIVERSITY OF MONTANA 31331TVB4 FEDERAL FARM CR BKS CONS SYSTE 4.000 09/24/10 2,000,000 2,001,849 2,035,182 03/31/10 ########
UNIVERSITY OF MONTANA 3133XRN22 FEDERAL HOME LN BKS 3.500 07/16/10 5,000,000 5,008,397 5,047,090 03/31/10 ########
UNIVERSITY OF MONTANA 3133XR4S6 FEDERAL HOME LOAN BANK 3.000 12/10/10 7,000,000 6,991,154 7,123,869 03/31/10 ########
UNIVERSITY OF MONTANA 3133XUUJ0 FEDERAL HOME LOAN BANK 1.625 09/26/12 1,500,000 1,499,544 1,506,814 03/31/10 ########
UNIVERSITY OF MONTANA 31359MYN7 FEDERAL NATL MTG ASSN 4.250 08/15/10 5,000,000 5,024,638 5,072,438 03/31/10 ########
UNIVERSITY OF MONTANA 8989909G3 TRUST FUNDS BOND POOL NA NA 14,646,381 14,552,921 14,732,964 03/31/10 ########
UNIVERSITY OF MONTANA 612991950 MONTANA DOMESTIC EQUITY POOL NA NA 7,063 531,639 934,547 03/31/10    934,547
UNIVERSITY OF MONTANA 8259909A4 SHORT TERM INVESTMENT POOL NA NA 37,796,199 37,796,199 37,796,199 03/31/10 ########
UNIVERSITY OF MONTANA         77,949,643 78,401,122 79,247,228
MONTANA TECH UOFMONTANA 8989909G3 TRUST FUNDS BOND POOL NA NA 445,100 458,450 447,731 03/31/10    447,731
MONTANA TECH UOFMONTANA 8259909A4 SHORT TERM INVESTMENT POOL NA NA 6,737,091 6,737,091 6,737,091 03/31/10 ########
MONTANA TECH UOFMONTANA     7,182,191 7,195,541 7,184,822
MONTANA STATE UNIVERSITY 8989909G3 TRUST FUNDS BOND POOL NA NA 14,938,500 14,999,130 15,026,809 03/31/10 ########
MONTANA STATE UNIVERSITY 8259909A4 SHORT TERM INVESTMENT POOL NA NA 103,488,322 103,488,322 103,488,322 03/31/10 ########
MONTANA STATE UNIVERSITY     118,426,822 118,487,452 118,515,131
STATE AGENCY OTHER 8989909G3 TRUST FUNDS BOND POOL NA NA 684,600 694,479 688,647 03/31/10    688,647
STATE AGENCY OTHER 612991950 MONTANA DOMESTIC EQUITY POOL NA NA 7,482 213,126 990,048 03/31/10    990,048
STATE AGENCY OTHER 8259909A4 SHORT TERM INVESTMENT POOL NA NA 794,743,567 794,743,567 794,743,567 03/31/10 ########
STATE AGENCY OTHER         795,435,650 795,651,173 796,422,262
LOCAL GOVERNMENTS 8259909A4 SHORT TERM INVESTMENT POOL NA NA 328,968,321 328,968,321 328,968,321 03/31/10 ########
LOCAL GOVERNMENTS         328,968,321 328,968,321 328,968,321
######### ######### ######### ######### ######### ######### ######### ######### ######### ######### ######### ######### #########
 STIP   TFIP   RFBP   MDEP   MTIP   MPEP   MTRP   In-State   Mortgages   Property   AOF Fixed   AOF Index   AOF Book 
TOTAL BY FUND         7,052,733,953 10,392,437,936 12,198,548,587