WALKING the Dogs of the Dow 05/29/07

ON 5/29/07 GE was liquidated and replaced with JPM

FUND holdings:

C 389 sh @ 51.29 = $ 19,951.81
JNJ 331 sh @ 61.62 = $ 20,396.22
JPM 455 sh @ 48.45 = $ 22,044.75
MO 313 sh @ 70.14 = $ 21,953.82
PG 338 sh @ 61.19 = $ 20,682.22
cash $ 0.37



TOTAL $ 105,029.19

WALKING the Dogs of the Dow 05/31/07

On 5/31/07 HD was liquidated and replaced with PG

FUND holdings:

C 389sh @ 54.49 = $ 21,196.61
GE 565sh @ 37.58 = $ 21,232.70
JNJ 331sh @ 63.27 = $ 20,942.37
MO 313sh @ 71.1 = $ 22,254.30
PG 338sh @ 63.55 = $ 21,479.90
cash $ 42.75



TOTAL $ 107,148.63

WALKING the Dogs of the Dow 4/30/07

On 4/30/07 MSFT was replaced with MO

FUND holdings:

C 389 sh @ 53.62 = $ 20,858.18
GE 565 sh @ 36.86 = $ 20,825.90
HD 544 sh @ 37.87 = $ 20,601.28
JNJ 331 sh @ 64.22 = $ 21,256.82
MO 313 sh @ 68.92 = $ 21,571.96
cash $29.95

TOTAL $ 105,144.09

Walking the Dogs of the Dow

This is a virtual fund that starts with the top 5 Dow stocks based on the total return for the next year. (See showdogsofthedow.blogspot.com) Each month the stocks are reevaluated and the lowest rated stock is repalced by the highest valued stock not in the fund.

STARTED 3/30/07 with $ 100,000.00

C 389 sh @ 51.34 = $ 19,971.26
GE 565 sh @ 35.36 = $ 19,978.40
HD 544 sh @ 36.74 = $ 19,986.56
JNJ 331 sh @ 60.26 = $ 19,946.06
MSFT 717 sh @ 27.87 = $ 19,982.79
cash $134.93