Ticker: UTG

1.800.644.5571

Quarterly Holdings as of 12/31/2011*

Description% of Total PortfolioDescription% of Total Portfolio
Common Stock
Altria Group, Inc. 2.02% Ameren Corp. 2.11%
American Tower Corp. 0.86% American Water Works Co., Inc. 3.37%
Annaly Capital Management, Inc. 1.87% AT&T Corp. 3.72%
BCE, Inc. 5.08% Cellcom Israel, Ltd. 0.11%
Cenovus Energy, Inc. 0.58% CenturyLink, Inc. 3.76%
CEZ AS 0.08% Cia de Saneamento Basico do Estado de Sao Paulo - ADR 0.82%
Comcast Corp. 0.32% Consolidated Edison, Inc. 1.25%
CPFL Energia S.A. - ADR 0.38% DTE Energy Co. 4.74%
Edison International 0.28% Exelis, Inc. 0.03%
FirstEnergy Corp. 0.27% Frontier Communications Corp. 3.40%
Integrys Energy Group, Inc. 2.85% ITC Holdings Corp. 0.91%
Just Energy Group, Inc. 0.27% National Fuel Gas Co. 0.36%
National Grid PLC - ADR 1.16% NiSource, Inc. 3.19%
Northeast Utilities 0.19% NSTAR 1.75%
Occidental Petroleum Corp. 0.13% OGE Energy Corp. 0.46%
ONEOK, Inc. 1.80% Penn West Petroleum, Ltd. 1.05%
PG&E Corp. 1.06% Pinnacle West Capital Corp. 3.58%
PPL Corp. 4.84% Progress Energy, Inc. 5.10%
Red Electrica Corp. S.A. 0.09% RWE AG 0.50%
SCANA Corp. 2.59% South Jersey Industries, Inc. 0.15%
Spectra Energy Corp. 0.59% SSE PLC 0.42%
Suncor Energy, Inc. 0.08% TECO Energy, Inc. 0.78%
Telecom Corp. of New Zealand - ADR ^0.00%** The Southern Co. 3.56%
The Williams Cos., Inc. 3.41% TransCanada Corp. 0.47%
Transocean, Inc. 0.26% UIL Holdings, Corp. 0.31%
Union Pacific Corp. 2.33% Verizon Communications, Inc. 5.29%
Vivo Participacoes S.A. - ADR 1.42% Vodafone Group PLC - ADR 1.91%
Windstream Corp. 3.61% Xylem, Inc./NY 0.24%
Total Common Stock91.76%
Description% of Total PortfolioDescription% of Total Portfolio
Limited Partnership
Copano Energy LLC 0.58% El Paso Pipeline Partners LP 0.19%
Enbridge Energy Partners LP 1.20% Enterprise Products Partners LP 2.95%
MarkWest Energy Partners LP 0.15% Regency Energy Partners LP 0.31%
Total Limited Partnership5.38%
Description% of Total PortfolioDescription% of Total Portfolio
Mutual Funds
Loomis Sayles Institutional High Income Fund 0.50%
Total Mutual Funds0.50%
Description% of Total PortfolioDescription% of Total Portfolio
Preferred Stock
Ameren Illinois Co. 4.2500% 0.11% Constellation Energy Group, Inc. 8.62500% 0.02%
Entergy Louisiana Holdings 6.9500% 0.11% Entergy Mississippi, Inc. 4.5600% 0.04%
Entergy Mississippi, Inc. 6.2500% 0.04% Entergy New Orleans, Inc. 4.3600% 0.05%
Public Service Co. of New Mexico 4.5800% 0.14% Southern Cal Edison 4.3200% 0.07%
Total Preferred Stock0.58%
Description% of Total PortfolioDescription% of Total Portfolio
Corporate Bonds
Qwest Corp. 7.5000%, 6/15/230.94%
Total Corporate Bonds0.94%
Description% of Total PortfolioDescription% of Total Portfolio
Short Term
Goldman Sachs Financial Square Treasury Instruments Fund 0.50%
Total Short Term0.50%
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* Holdings are subject to change.

** Less than 0.005% of Total Portfolio as of 12/31/2011

According to the Fund's holding disclosure policy, as approved by the Board of Trustees, the release of the quarter-end holdings information will be delayed at least 30 days.