Bristlecone Fund - Top Ten Positions
As of 8/31/08

Company Name Weight
  Cintas Corp. 6.04%
  Dell Inc. 5.95%
  Bank of America Corp. 5.92%
  Home Depot Inc. 5.89%
  Wells Fargo & Company 5.27%
  American Express Company 5.23%
  Harley Davidson Inc. 4.94%
  Health Management Associates                    4.31%
  Wachovia Corporation 3.71%
  Liberty Media Interactive 3.62%
Total Invested in Top Ten Positions 50.88%
  Smallest Position 1.03%
  Average Position 3.62%
  Total Positions 25

 

Fund holdings and sector allocations are subject to change at any time and should not be considered a recommendation to buy or sell any security.