January

SECURITY   Units Held Cost Basis Value as of January 31, 2006 Gain - (Loss) % of Equity % of Bonds  
Money Market Account 1-Gold 12,059.49 12,059.49 12,059.49 0.00   6.11%  
Household Fin CORP 07/15/10-Black 9 9,694.26 9,704.61 10.35   4.91%  
US Treasury Strip CI 11/15/08-Black 5 2,984.10 4,576.75 1,592.65   2.32%  
Ishares 20+ Treasury Index Fund(TLT)-Black 45 4,048.70 3,910.95 (137.75)   1.98%  
Ishares 7-10 Yr Treasury Index Fund(IEF)-Black 46 3,983.35 3,762.34 (221.01)   1.90%  
Ishares 1-3 Yr. Treasury Index Fund(SHY)-Black 48 3,970.79 3,838.56 (132.23)   1.94%  
Ishares Us Aggregate Bond (AGG)-Gold 100 10,095.94 9,953.00 (142.94)   7.56%  
Federal Home Loan MTG 07/15/2035-Black 15 14,764.95 14,268.00 (496.95)   7.22%  
Us Treasury Note 5/15/2009-Black 10 10,214.49 10,122.30 (92.19)   5.13%  
Money Market Account 2-Black 65,332.96 65,332.96 65,332.96 0.00   33.08%  
Ishares Us Aggregate Bond (AGG)-Black 150 15,114.95 14,929.50 (185.45)   5.04%  
1-3 Yr. Treasury Index Fund (SHY)-Gold 121 9,966.15 9,676.37 (289.78)   4.90%  
Goldman Sachs Corp Bd Fd (LQD)-Gold 154 17,164.13 16,365.58 (798.55)   8.29%  
Bell South Corp Note 2034 -Black 10 9,983.95 9,557.20 (426.75)   4.84%  
Federal National MTG ASSN-Gold 2023FannieMae 5 4,604.95 4,751.55 146.60   2.41%  
Federal Home Loan MTG-Gold 2018 5 4,554.95 4,696.30 141.35   2.38%  
              Returns
S&P 500 Depository Receipts (SPY) -Black 450 54,523.52 63,972.00 9,448.48 15.19%   17.33%
S&P 500 Depository Receipts (SPY)-Gold 173 20,195.04 24,592.99 4,397.95 5.84%   21.78%
Russell 1000 Value Index Fund (IWD)-Gold 875 55,977.27 72,327.95 16,350.68 17.17%   29.21%
Vanguard Emerging Markets (VWO)-Gold 213 15,142.31 16,330.71 1,188.40 3.88%   7.85%
Allied Cap Corp New (ALD)-Gold 200 4,370.00 5,642.00 1,272.00 1.34%   29.11%
American Software Inc (AMSWA)-Gold 1,475 11,917.61 10,428.25 (1,489.36) 2.48%   -12.50%
Amerisourcebergen Corp (ABC)-Gold 150 5,994.00 7,924.50 1,930.50 1.88%   32.21%
Bio-Reference Laboratories (BRLI)-Black 450 6,152.76 10,183.50 4,030.74 2.42%   65.51%
Blue Earth Refineries-Gold 200 479.46 348.00 (131.46) 0.08%   -27.42%
Brinker Intl Inc (EAT)-Gold 225 5,634.95 7,017.75 1,382.80 1.67%   24.54%
Callaway Golf (ELY)-Black 400 5,130.00 6,528.00 1,398.00 1.55%   27.25%
Cognos Inc (COGN)-Black 200 6,476.75 8,834.00 2,357.25 2.10%   36.40%
Columbia Sportswear (COLM)-Black 200 10,770.35 12,566.00 1,795.65 2.98%   16.67%
First American Corp (FAF)-Gold 200 7,937.21 8,454.00 516.79 2.01%   6.51%
Furniture Brands Intl Inc (FBN)-Gold 300 6,740.00 4,962.00 (1,778.00) 1.18%   -26.38%
Gerdau (GGB)-Black 647 4,454.95 10,675.50 6,220.55 2.53%   139.63%
Hickory Tech Corp (HTCO)-Gold 900 6,421.95 6,408.00 (13.95) 1.52%   -0.22%
Hormel Foods Corp (HRL)-Black 282 10,790.31 10,538.34 (251.97) 2.50%   -2.34%
KHD Humboldt Wedag Intl Ltd (KHDH)-Gold 200 3,970.71 7,798.00 3,827.29 1.85%   96.39%
Mantech Intl Corp (MANT)-Black 200 2,596.75 6,758.00 4,161.25 1.60%   160.25%
Nomura Holdings Inc (NMR)-Gold 835 14,992.39 16,299.20 1,306.81 3.87%   8.72%
Omnicare Inc (OCR)-Gold 100 3,149.95 4,010.00 860.05 0.95%   27.30%
Orbital Sciences Corp (ORB)-Black 400 5,406.95 6,852.00 1,445.05 1.63%   26.73%
Otter Tail Corp (OTTR)-Gold 480 14,059.81 15,470.40 1,410.59 3.67%   10.03%
Overseas Shipholding Group Inc (OSG)-Gold 97 4,960.24 5,779.26 819.02 1.37%   16.51%
Owens Corning (OWENQ)-Black 19 2,540.50 97.00 (2,443.50) 0.02%   -96.18%
Pharmaceutical Prod Dev Inc (PPDI)-Gold 170 2,525.90 6,029.90 3,504.00 1.43%   138.72%
Rofin Sinar Tech Inc (RSTI)-Black 100 3,824.85 6,262.00 2,437.15 1.49%   63.72%
Sadia S A (SDA)-Black 250 7,055.95 7,867.50 811.55 1.87%   11.50%
Sciele Pharma Inc (SCRX)-Gold 380 2,033.00 8,797.00 6,764.00 2.09%   332.71%
Streettracks DJ Wilshire Reit (RWR)-Black 150 8,896.95 14,109.00 5,212.05 3.35%   58.58%
Sunoco, Inc. (SUN)-Black 178 3,282.63 10,847.32 7,564.69 2.58%   230.45%
Tidewater Inc (TDW)-Gold 250 12,771.03 12,012.50 (758.53) 2.85%   -5.94%
Vulcan Materials Co (VMC)-Gold 45 1,971.75 4,529.25 2,557.50 1.08%   129.71%
    $ 531,685.91 $ 591,368.21 $ 77,707.71 100%