Portfolio Holdings as of 2/29/2008
| Ticker | Cusip | Description | Shares | Market Value |
| AA | 013817101 | Alcoa Inc. | 3,000.000 | $111,420.00 |
| AA-DU | 0WS99K784 | ALOCA CALL @ 37.50 4/19/08 | -30.000 | ($6,750.00) |
| BAC | 060505104 | Bank of America Corporation | 1,700.000 | $67,558.00 |
| BRKL | 11373M107 | Brookline Bancorp, Inc. | 4,000.000 | $38,440.00 |
| CVX | 166764100 | Chevron Corportation | 1,200.000 | $103,992.00 |
| EM050112 | EM050112 | Empire Corporation 05/01/12 | 275,000.000 | $275,000.00 |
| EMIXX | 300250602 | Evergreen Select Mon ey Market Fund | 91,021.710 | $91,021.71 |
| GE | 369604103 | General Electric Company | 2,000.000 | $66,280.00 |
| GE-FG | 41U99C106 | GE CALL @ 35 EXP 6/21/08 | -20.000 | ($2,260.00) |
| HON | 438516106 | Honeywell Internatio nal Inc. | 1,900.000 | $109,326.00 |
| HON-CL | 4FK99N581 | HONEYWELL CALL @ 60 3/22/08 | -19.000 | ($1,140.00) |
| JNJ | 478160104 | Johnson & Johnson | 1,300.000 | $80,548.00 |
| JNJ-DN | 83D99D071 | JNJ CALL @ 70.00 04/19/08 | -13.000 | ($97.50) |
| LBQXX | 52521A876 | Lehman Brothers Prime Portfolio | 11,771.660 | $11,771.66 |
| LLY | 532457108 | Eli Lilly & Company | 2,000.000 | $100,040.00 |
| LLY-DK | 9PW99D187 | ELI LILLY CALL @ 55 4/19/08 | -20.000 | ($700.00) |
| MRK | 589331107 | Merck & Co., Inc. | 2,000.000 | $88,600.00 |
| MRK-DJ | 5S799S925 | MERCK CALL @ 50 4/19/08 | -20.000 | ($860.00) |
| PAYX | 704326107 | Paychex, Inc. | 2,500.000 | $78,650.00 |
| PQX-FU | 7KK99M753 | PAYCHEX CALL @ 37.50 6/21/08 | -25.000 | ($750.00) |
| RRD | 257867101 | R.R. Donnelley & Son s Company | 2,500.000 | $79,575.00 |
| RTN | 755111507 | Raytheon Company | 2,000.000 | $129,680.00 |
| RTN-CM | 7TP993611 | RAYTHEON CALL @ 65 3/22/08 | -20.000 | ($2,900.00) |
| SON | 835495102 | Sonoco Products Company | 2,500.000 | $70,425.00 |
| T | 00206R102 | A T & T Inc | 3,000.000 | $104,490.00 |
| TKR | 887389104 | The Timken Company | 2,600.000 | $78,338.00 |
| TKR-FG | 8BZ99E564 | TIMKEN CALL @ 35 6/21/08 | -26.000 | ($2,015.00) |
| TRV | 89417E109 | Travelers Group, Inc. | 2,000.000 | $92,820.00 |
| WFC | 949746101 | Wells Fargo & Company | 3,100.000 | $90,613.00 |
| WMI | 94106L109 | Waste Management, INC. | 1,800.000 | $59,094.00 |
| WMI-DG | 93G99A099 | WASTE MANAGEMENT CALL @ 35 4/19/08 | -18.000 | ($810.00) |
| Totals | 418,682.370 | $1,909,399.87 | ||