Fully invested stock portfolio Small, mid, and large cap stocks Benchmark: Russell 3000

The All-Cap Equity Account has a target range of 90%-98% in equities, with a mix of small, mid, and large capitilization stocks.  We weight the stock exposure toward the most advantageous market capitilizations based on our research.

Sector analysis in an important part of our portfolio management process.  Changes in sector weightings are made based on our analysis.

We believe that having the maximum flexibility to follow our research is the key to adding value to our clients' accounts.

As of June 30, 2010

	Small Cap 31% Mid Cap 32% Large Cap 37%	Common Stocks 87% Short Term Liquidity 13%