Toews Hedged Large-Cap Fund

Class Other (THLGX)

Fund Holdings

Asset Allocation

% Long % Net
Cash 66.99 66.99
Stocks 0.0 0.0
Bonds 29.05 29.05
Other 0.0 0.0
Foreign Bonds 0.0 0.0
Foreign Stocks 3.97 3.97
Convertible 0.0 0.0
Preferred 0.0 0.0

Updated 01.31.2013

Top 10 Holdings

Performance as of 04.30.2013

Portfolio as of 01.31.2013

% Net Assets
Oak Forest Ill Rev Rev Bds 12.92
S&P 500 Future 3.29
Jackson Cnty Mich Econ Dev Rev Bds 2.47
Envelope Printery 1.65
Will Cnty Ill Rev Rev Bds 1.62
Sharonville Ohio Indl Dev Rev Adj 3.15% 1.46
Highland Cnty Ohio Jt Twp Hosp Adj Hosp 1.18
Fremont Mich Hosp Fin Auth 1.1
Greenup Cnty Ky Indl Bldg Rev Rev Bds 1.1
Light Of World Christian FRN 1.02
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