Ŀ
Date:          31-Mar-94    TOP FIVE (*)          TOP TEN                  
  DOW HI YIELD PORTFOLIONAV/Shr:     14.0370 NAV/Shr:      12.5837         
                        Yr-to-date:    -3.12%Yr-to-date:     -5.87%        
Start:  Nov 1/92        From start:    40.37%From start:     25.84%        
                        Month:         -9.08%Month:          -5.72%        
                        Vs DJ30:        3.52 Vs DJ30:         2.26         
Ĵ
 Shares         Security        Cost    Price        Mkt Val  Asset%  Yield  
Ĵ
   1275 Woolworth *        28,975.13   15.125      19,284.38   13.74%  7.67% 
    535 Philip Morris *    28,897.05   50.625      27,084.38   19.29%  5.45% 
   1460 Union Carbide *    28,862.55   22.500      32,850.00   23.40%  3.33% 
    600 Dupont *           28,662.00   53.000      31,800.00   22.65%  3.32% 
    895 Merck *            28,862.48   29.750      26,626.25   18.96%  3.76% 
        Cash                                           92.23    0.07%        
        Dividends                       -           2,664.81    1.90%        
                          ----------              ----------                 
                          144,259.20              140,402.04           4.42% 
                                                                             
   1175 Woolworth          26,705.63   15.125      17,771.88    7.06%  7.67% 
    495 Philip Morris      26,684.85   50.625      25,059.38    9.96%  5.45% 
   1345 Union Carbide      26,683.45   22.500      30,262.50   12.02%  3.33% 
    560 Dupont             26,753.80   53.000      29,680.00   11.79%  3.32% 
    825 Merck              26,608.13   29.750      24,543.75    9.75%  3.76% 
    390 Texaco             26,638.95   63.000      24,570.00    9.76%  5.08% 
    405 Exxon              26,548.28   62.875      25,464.38   10.12%  4.58% 
    370 JP Morgan          26,477.35   62.750      23,217.50    9.23%  4.33% 
    420 Eastman Kodak      26,480.10   44.375      18,637.50    7.41%  3.61% 
    105 Eastman Chemicals              41.750       4,383.75    1.74%  3.83% 
    275 Chevron            26,736.00   84.000      23,100.00    9.18%  4.40% 
        Cash                                          144.48    0.06%        
        Dividends                                   4,838.37    1.92%        
                          ----------              ----------                 
                          266,316.53              251,673.48           4.39% 

