Update: UC Retirment Plan - Private Equity - 2009 included!

8/14/2019 Update: UC Retirment Plan - Private Equity - 2009 included!

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UNIVERSITY OF CALIFORNIA RETIREMENT PLANPRIVATE EQUITY

December 31, 2004

ISSUER SHARES MARKET VALUE

ACCEL VIII 99,541 5,341,280

AIG ASIAN INFRASTRUCTURE 501,235 2,400,414AIG ASIAN INFRASTRUCTURE II 547,528 24,428,500AIG GE CAP LATIN AMER 728,078 41,732,728AIG INDIAN SEC. EQUITY 89,698 4,722,241ALTA S D III 74,000 1,798,792ARCH VENTURE FUND VI 13,688 1,041,578ARSENAL CAPITAL PARTNERS QPF 100,722 6,693,464BAIN CAPITAL FUND VIII 153,300 3,503,978BAIN CAPITAL FUND VIII COINVESTM 13,505 1,350,500

BLACKSTONE CAPITAL PARTNERS IV 177,795 19,038,000CHINA VEST IV 146,000 1,374,882CLEARSTONE VENTURE PARTNERS IIIA 14,000 1,400,000DARWIN VENTURE CAPITAL FUND 2,359 235,864DE NOVO VENTURES II LP 34,509 2,846,054DOLL CAPITAL MANAGEMENT 7,300 730,000DOMAIN PARTNERS VI, LP 10,353 912,111FORTRESS INVESTMENT FUND III LP 7,826 782,614FREMONT PARTNERS III LP 60,555 3,317,788GENSTAR CAPITAL PARTNERS IV, L.P 5,125 512,548GLENCOE CAPITAL INSTITUTIONAL PA 7,097 701,505GLENCOE CAPITAL PARTNERS III LP 30,003 3,016,676GLOBESPAN CAPITAL PARTNERS IV 31,224 2,516,460GOLDER THOMA CRESSEY III 127,275 153,366GOLDER THOMA CRESSEY IV 179,848 189,200GOLDER THOMA CRESSEY V 280,218 19,309,847GRANITE GLOBAL VENTURES II, L.P. 17,500 1,750,000HUMMER WINBLAD III 70,155 1,148,016INSTITUTIONAL VENTURE IV 106,440 1,880,050

INSTITUTIONAL VENTURE V 97,137 55,368INSTITUTIONAL VENTURE VI 82,900 1,002,676INSTITUTIONAL VENTURE VII 125,790 6,314,155INSTITUTIONAL VENTURE VIII 211,058 4,146,858INTERSOUTH PARTNERS V 131 400 8 444 158


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INTERSOUTH PARTNERS V 131 400 8 444 158


December 31, 2004


OXFORD BIOSCIENCE PARTNERS IV 143,438 10,726,256

PALOMAR VENTURES III, L.P. 7,350 735,000PERSEUS 2000 EXPANSION 20,963 2,273,890PERSEUS-SOROS BIOPHARMACEUTICAL 44,177 3,949,966POLARIS VENTURE PARTNERS III 149,696 9,053,315POLARIS VENTURE PARTNERS IV 46,250 3,921,584REDPOINT VENTURES I 183,750 4,945,999REDPOINT VENTURES II 144,451 9,742,897RIPPLEWOOD PARTNERS II, L.P. 37,694 3,039,284SEQUOIA UCRP 850,623 94,773,864

SKM EQUITY FUND II 373,218 15,522,875SPC PARTNERS III, L.P. 36,366 3,637,552TECHNOLOGY VENTURE IV 100,080 848,578VENTURE STRATEGY PARTNERS II 110,700 5,061,425VENTURE STRATEGY PARTNERS III 105,000 1,050,000VERSANT VENTURES I 133,000 13,936,804VERSANT VENTURES II 114,750 10,135,523WARBURG PINCUS PRIVATE EQTY VIII 357,351 30,178,544WCAS CAPITAL PARTNERS II 155,400 4,004,869WCAS VI 364,600 7,302,209WCAS VII 698,947 15,929,701WELSH CARSON CP III 1,260,000 66,510,688

TOTAL PRIVATE EQUITY 647,465,950


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University of California Retirement PlanFixed Income Portfolio

December 31, 2002

DESCRIPTION PAR VALUE RATE MATURITY MARKET VALUEABBOTT LABORATORIES NC 10,000,000 5.625 7/1/06 10,885,300ALCOA INC NC 14,000,000 5.375 1/15/13 14,835,520ALLSTATE CORP NC 24,000,000 7.200 12/1/09 27,831,600ALLSTATE CORP. NC 13,000,000 6.900 5/15/2038 14,314,430AMERICAN GENERAL CAP II NC 29,000,000 8.500 7/1/2030 37,789,900AMERICAN GENERAL INST CAP A NC 37,500,000 7.570 12/1/2045 44,584,125ANADARKO FINANCE NC 27,500,000 7.500 5/1/2031 32,693,650AOL TIME WARNER INC NC 26,000,000 6.875 5/1/12 27,462,240

AOL TIME WARNER INC NC 45,000,000 7.625 4/15/2031 46,070,100AOL TIME WARNER INC NC 20,000,000 7.700 5/1/2032 20,881,000ATHABASCA OIL SANDS NC 20,000,000 8.200 4/1/27 23,514,878AXA NC 31,000,000 8.600 12/15/2030 35,400,140BECTON DICKINSON NC 37,000,000 7.000 8/1/27 41,766,710BELLSOUTH CORP NC 5,000,000 5.000 10/15/06 5,347,800BELLSOUTH CORP NC 29,000,000 6.875 10/15/2031 32,491,600BOMBARDIER NC 18,200,000 7.350 12/22/26 8,651,920BRITISH TEL PLC NC 12,000,000 8.375 12/15/10 14,414,280BRITISH TEL PLC NC 38,000,000 8.875 12/15/2030 48,427,200BURLINGTON RESOURCES NC 24,300,000 9.875 6/15/10 31,376,552CANADIAN NATL RAILROAD NC 22,000,000 6.800 7/15/18 24,252,140CANADIAN NATL RAILROAD NC 38,525,000 6.900 7/15/28 43,621,858CARNIVAL CORP NC 23,500,000 7.200 10/1/23 23,552,736CCCIT 2001-A6 A6 6,000,000 5.650 6/15/06 6,552,840CELULOSA ARAUCO NC 41,632,000 7.750 9/13/11 45,986,291CEMEX S A PT09 50,000,000 9.625 10/1/09 55,125,000CHAMT 2001-4 A 6,000,000 5.500 11/15/08 6,530,760

CHILE REP NC 11,000,000 7.125 1/11/12 12,403,490CITIGROUP INC NC 16,500,000 5.500 8/9/06 17,815,545CITIGROUP INC NC 35,000,000 6.000 2/21/12 38,467,450CLEAR CHANNEL COMMUNICATIONS NC 34 750 000 7 650 9/15/10 39 324 490


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December 31, 2002

DESCRIPTION PAR VALUE RATE MATURITY MARKET VALUEFHR 2422 DM 45,000,000 6.500 4/15/28 47,165,184FHR 2484 PA 51,227,643 6.000 4/15/22 53,647,698FHR 2484 VA 9,696,984 6.000 9/15/12 10,293,352FHR 2494 CD 13,750,000 5.500 8/15/14 14,624,999FHR 2501 MA 17,000,000 5.500 3/15/12 17,767,288FHR 2509 TA 11,000,000 5.500 10/15/09 11,421,500FIRSTENERGY CORP NC 24,000,000 5.500 11/15/06 24,135,120FIRSTENERGY CORP NC 30,000,000 6.450 11/15/11 29,848,800

FIRSTENERGY CORP NC 26,500,000 7.375 11/15/2031 25,679,030FNCI 5 1/2 TBA 60,000,000 5.500 1/5/18 61,396,872FNCI POOL #254308 5,097,908 6.500 5/1/17 5,376,453FNCI POOL #254373 13,928,734 6.500 7/1/17 14,689,790FNCI POOL #545125 29,673,250 6.000 8/1/16 31,001,067FNCI POOL #545296 32,533,757 6.000 11/1/16 33,989,576FNCI POOL #581853 62,829,957 6.000 7/1/16 65,641,468FNCI POOL #598444 5,473,933 6.500 6/1/17 5,773,024FNCI POOL #609541 11,152,776 6.500 10/1/16 11,748,262FNCI POOL #612304 59,916,559 6.000 10/1/16 62,597,702FNCI POOL #639018 5,529,155 6.500 4/1/17 5,831,264FNCI POOL #650503 16,026,900 6.500 6/1/17 16,902,597FNCI POOL #651388 5,499,887 6.500 8/1/17 5,800,397FNCI POOL #673022 61,839,544 5.500 12/1/17 64,129,222FNMA POOL #555139 78,685,000 6.500 10/1/2032 81,979,934FNMA POOL #254146 40,396,775 6.000 1/1/2032 41,770,303FNMA POOL #254548 42,928,457 5.500 12/1/2032 43,818,912FNMA POOL #516493 2,438,765 6.000 6/1/29 2,520,983FNMA POOL #535811 7,503,625 6.500 4/1/2031 7,804,488FNMA POOL #535911 22,444,849 6.500 5/1/2031 23,328,538FNMA POOL #545506 31,024,702 7.000 2/1/2032 32,610,111FNMA POOL #581706 21 143 778 6 500 7/1/2031 21 991 552


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December 31, 2002

DESCRIPTION PAR VALUE RATE MATURITY MARKET VALUEFNMA POOL #635030 43,838,332 6.500 5/1/2032 45,658,658FNMA POOL #640008 24,708,008 7.000 4/1/2032 25,970,625FNMA POOL #672415 11,672,306 6.500 9/1/2032 12,156,982FNMA POOL #673572 29,000,000 6.000 11/1/2032 30,012,753FNMA POOL #676633 94,999,548 6.000 12/1/2032 98,339,371FNMA POOL #676739 15,089,273 6.000 1/1/2033 15,619,755FNMA POOL #676740 19,114,643 6.000 1/1/2033 19,786,641FNMA POOL #676868 10,329,704 6.000 1/1/2033 10,690,443

FNMA-BENCHMARK 65,000,000 4.000 11/17/06 66,101,750FNMA-BENCHMARK 68,000,000 5.000 1/15/07 73,712,680FNMA-BENCHMARK 83,000,000 5.250 1/15/09 90,724,810FNMA-BENCHMARK 85,000,000 5.500 3/15/11 93,249,250FNMA-DUS POOL #382064 7,645,739 7.030 11/1/09 8,854,225FNMA-DUS POOL #383233 7,967,764 6.275 3/1/2031 8,953,536FNMA-DUS POOL #383428 6,868,763 6.080 5/1/11 7,607,155FNMA-POOL #627118 74,278,170 7.000 3/1/2032 78,073,897FNMA-POOL #627131 75,749,864 7.000 3/1/2032 79,620,796FNR 02-09 PB 36,000,000 6.000 11/25/14 37,879,812FNR 02-18 VA 14,258,642 6.500 2/25/13 15,095,739FNR 02-29 VA 14,347,542 6.500 2/15/13 15,178,058FNR 02-33 VA 9,558,614 6.500 6/25/13 10,045,646G2SF POOL#TBA 39,000,000 6.000 1/3/28 40,566,092GENERAL ELECTRIC NC 20,000,000 4.625 9/15/09 20,550,200GENERAL ELECTRIC NC 40,000,000 6.000 6/15/12 43,122,800GENERAL ELECTRIC CAPITAL NC 52,000,000 6.125 2/22/11 56,209,920GENERAL ELECTRIC CAPITAL NC 57,000,000 6.750 3/15/2032 63,177,660GEORGIA POWER NC 15,000,000 5.125 11/15/12 15,468,900GNMA-I POOL #523006 10,283,047 6.500 2/15/2032 10,802,248GNMA-I POOL #546959 3,089,014 7.000 9/15/2031 3,267,912GNMA I POOL #550274 9 003 998 7 000 8/15/2031 9 525 458


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December 31, 2002

DESCRIPTION PAR VALUE RATE MATURITY MARKET VALUEGNMA-II POOL #2973 10,577,442 8.000 9/20/2030 11,297,774GNMA-II POOL #2999 21,624,163 7.500 11/20/2030 22,907,230GNMA-II POOL #3011 11,262,282 7.500 12/20/2030 11,930,528GNR 02-29 VC 29,027,848 6.500 2/16/13 30,679,576GNR 02-32 QC 23,327,000 6.000 11/20/27 24,238,386GNR 02-40 VC 47,126,688 6.500 10/20/14 49,361,497GNR 02-45 QB 32,299,000 6.500 4/20/28 33,937,305GNR 02-45 VA 17,976,261 6.000 4/20/13 19,091,866

GNR 02-46 PD 27,040,000 6.000 7/20/07 28,663,392GRAND MET INVT CORP NC 7,750,000 8.000 9/15/22 9,691,375GRAND MET INVT CORP NC 36,600,000 9.000 8/15/11 47,712,492GRUPO TELEVISA SA NC 40,000,000 8.000 9/13/11 41,600,000GRUPO TELEVISA SA NC 16,000,000 8.500 3/11/2032 15,200,000HALLMARK INC. NC 17,000,000 8.920 7/23/12 21,080,000HAROT 2002-1 A4 18,600,000 4.220 4/16/07 19,429,746HAROT 2002-3 A3 2,000,000 3.000 5/18/06 2,036,620HYDRO QUEBEC NC 29,440,000 8.250 4/15/26 39,226,739HYDRO QUEBEC NC 29,200,000 8.250 1/15/27 39,012,368IBM CORP NC 20,000,000 4.750 11/29/12 20,070,800IBM CORP NC 43,000,000 6.500 1/15/28 46,108,470INTL BK R&D(INTPT)STRIPS 60,000,000 0.000 2/15/16 30,225,600INTL BK R&D(PRNPT)STRIPS 32,000,000 0.000 2/15/15 17,140,160KFW INTL FINANCE NC 17,000,000 5.250 6/28/06 18,493,280KIMBERLY CLARK DE MEX NC 30,000,000 8.875 8/1/09 34,935,000LOBLAW NC 22,000,000 6.450 2/9/28 14,034,263LOBLAW NC 25,000,000 6.650 11/8/27 16,339,059LOBLAW CO. LTD NC 28,000,000 6.500 1/22/29 17,965,474LOBLAW CO. LTD RESIDS NC 80,000,000 0.000 5/23/2031 8,519,624LOCKHEED MARTIN CORP NC 31,000,000 8.500 12/1/29 41,428,710LORAL NC 35 875 000 7 000 9/15/23 39 906 030


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December 31, 2002

DESCRIPTION PAR VALUE RATE MATURITY MARKET VALUEPEMEX PROJECT NC 6,000,000 8.000 11/15/11 6,450,000RESOLUTION TRUST FUNDING NC 38,700,000 8.625 1/15/21 54,777,141SBC COMMUNICATIONS NC 35,000,000 5.875 8/15/12 37,939,650SEARIVER MARITIME INC. 198,815,000 0.000 9/1/12 130,225,447SPIEKER PROP. REIT NC 30,250,000 7.250 5/1/09 33,168,520STARWOOD HOTELS NC 17,000,000 7.875 5/1/12 16,787,500STATE STREET INSTL CAP A NC06 25,500,000 7.940 12/30/26 29,438,985STATE STREET INSTL CAP B NC07 39,000,000 8.035 3/15/27 44,461,950

TELEFONOS MEXICO NC 55,000,000 8.250 1/26/06 60,225,000TIME WARNER ENTERTAINMENT NC 14,500,000 8.875 10/1/12 17,272,835TIME WARNER INC. NC 20,500,000 9.150 2/1/23 23,188,575TOYOTA MTR CRED NC 4,000,000 5.650 1/15/07 4,330,440TRANSCANADA PIPELINE NC 41,320,000 8.290 2/5/26 29,220,299TRANSCANADA PIPELINE NC 13,396,000 8.625 5/15/12 16,903,609TRANSCANADA PIPELINE NC 21,500,000 9.450 3/20/18 17,011,504TRANSCANADA PIPELINE NC 17,500,000 9.875 1/1/21 24,078,775TREASURY INFLATION INDEX NC 157,188,000 3.000 7/15/12 168,446,308

TREASURY INFLATION INDEX NC 111,000,000 3.375 1/15/07 137,569,604TREASURY INFLATION INDEX NC 154,672,000 3.375 1/15/07 191,695,187TREASURY INFLATION INDEX NC 58,202,000 3.375 1/15/12 64,956,854TREASURY INFLATION INDEX NC 47,086,000 3.375 4/15/2032 55,485,323TREASURY INFLATION INDEX NC 7,950,000 3.500 1/15/11 9,090,939TREASURY INFLATION INDEX NC 107,145,000 3.500 1/15/11 122,521,850TREASURY INFLATION INDEX NC 159,555,000 3.625 1/15/08 196,447,291TREASURY INFLATION INDEX NC 56,750,000 3.625 1/15/08 69,871,729TREASURY INFLATION INDEX NC 8,600,000 3.625 4/15/28 11,281,207TREASURY INFLATION INDEX NC 152,652,000 3.625 4/15/28 200,244,039TREASURY INFLATION INDEX NC 152,479,000 3.875 1/15/09 187,885,996TREASURY INFLATION INDEX NC 45,000,000 3.875 1/15/09 55,449,405TREASURY INFLATION INDEX NC 178 818 000 3 875 4/15/29 241 134 857


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December 31, 2002

DESCRIPTION PAR VALUE RATE MATURITY MARKET VALUEUS TREASURY BOND NC 102,000,000 8.125 8/15/21 143,582,340US TREASURY BOND NC 44,462,000 8.750 5/15/17 64,298,721US TREASURY NOTE NC 16,600,000 4.000 11/15/12 16,836,052US TREASURY NOTE NC 178,000,000 4.875 2/15/12 193,308,000US TREASURY NOTE NC 175,000,000 5.750 8/15/10 201,264,000US TREASURY NOTE NC 31,800,000 6.000 8/15/09 36,971,316US TREASURY NOTE NC 258,250,000 6.500 2/15/10 308,768,865US TREASURY(INTPT)STRIPS 184,000,000 0.000 2/15/11 133,808,480

US TREASURY(INTPT)STRIPS 55,500,000 0.000 8/15/11 39,386,685US TREASURY(INTPT)STRIPS 46,000,000 0.000 11/15/12 30,331,480US TREASURY(INTPT)STRIPS 197,000,000 0.000 2/15/13 127,393,990US TREASURY(INTPT)STRIPS 185,000,000 0.000 5/15/13 117,920,850US TREASURY(INTPT)STRIPS 175,000,000 0.000 2/15/14 106,214,500US TREASURY(INTPT)STRIPS 50,000,000 0.000 5/15/14 29,871,500US TREASURY(INTPT)STRIPS 200,000,000 0.000 11/15/14 115,838,000VERIZON MARYLAND INC NC 25,000,000 6.125 3/1/12 27,035,500VERIZON NY INC. NC 50,370,000 7.375 4/1/2032 57,845,412

VESSEL MGMT SVC TITLE XI 14,937,500 6.080 5/20/24 16,290,240VODAFONE GROUP NC 49,000,000 7.750 2/15/10 57,731,310WACHOVIA CAPITAL SEC. NC07 39,000,000 7.965 6/1/27 40,660,803WAL-MART STORES NC 41,000,000 6.875 8/10/09 48,162,700WELLS FARGO & CO NC 10,000,000 6.450 2/1/11 11,203,400WESTERN ATLAS NC 16,000,000 8.550 6/15/24 20,224,040WISCONSIN ENERGY CORP NC 29,000,000 5.500 12/1/08 31,125,410WYETH NC 17,000,000 6.250 3/15/06 18,407,430WYETH NC 49,327,000 6.700 3/15/11 54,642,971ZENECA NC 6,000,000 7.000 11/15/23 7,032,600

Total Fixed Income Portfolio 11,667,781,747

Cash and equivalents 207,378,000


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University of California Retirement PlanU.S. Equity

December 31, 2002


ISHARES RUSS3000 1,627,000 79,657,920RUSSELL 3000 INDEX FUND 87,162,923 5,597,428,580RUSSELL 3000 INDEX TRANS FUNDS 191,550,262 12,300,974,701PRIVATE EQUITY DISTRIBUTIONS 78,532 556,227

Total U.S. Equity 17,978,617,428

% of Portfolio 86.75%


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University of California Retirement PlanPrivate Equity

December 31, 2002


ACCEL VIII 72,630 4,313,496AIG ASIAN INFRASTRUCTURE 495,656 14,122,229AIG ASIAN INFRASTRUCTURE II 484,202 28,595,017AIG GE CAP LATIN AMER 673,124 43,014,617AIG INDIAN SEC. EQUITY 86,155 7,132,030ALTA S D II 62,090 3,545ALTA S D III 74,000 2,394,270CHINA VEST IV 146,000 7,167,724GOLDER THOMA CRESSEY III 127,275 3,960,925GOLDER THOMA CRESSEY IV 179,848 1,266,310GOLDER THOMA CRESSEY V 280,218 20,534,962HUMMER WINBLAD III 70,155 1,337,014INSTITUTIONAL VENTURE IV 106,440 1,961,476INSTITUTIONAL VENTURE V 97,137 196,217INSTITUTIONAL VENTURE VI 82,900 1,498,749INSTITUTIONAL VENTURE VII 125,790 9,263,176INSTITUTIONAL VENTURE VIII 211,058 12,308,451INTERSOUTH PARTNERS V 90,900 6,969,030

INTERWEST PARTNERS IV 85,600 648,848INTERWEST PARTNERS V 124,680 2,467,791INTERWEST PARTNERS VI 106,004 8,876,669INTERWEST PARTNERS VII 94,833 4,695,259INTERWEST PARTNERS VIII 157,500 10,672,200INVERNESS PARTNERS II L.P. 8,683 868,300INVESTMENT CO OF CHINA 940,000 2,190,200KPCB II 65,150 720,689KPCB II ANNEX FUND 13,275 36,214

KPCB IV 87,800 455,682KPCB IX-A 119,000 5,346,075KPCB VI 117,350 676,053KPCB VII 105,000 2,285,745KPCB VIII 140 000 6 167 140


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University of California Retirement PlanPrivate Equity

December 31, 2002


SEQUOIA CAPITAL VIII 115,372 5,273,769SEQUOIA CAPITAL X 151,200 9,550,699SKM EQUITY FUND II 373,218 30,819,207TECHNOLOGY VENTURE III 71,920 89,828TECHNOLOGY VENTURE IV 100,080 1,357,185VENTURE STRATEGY PARTNERS II 70,875 5,514,217VERSANT VENTURES I 112,000 10,811,920VERSANT VENTURES II 27,000 2,304,720WARBURG PINCUS PRIVATE EQTY VIII 141,751 11,444,414WCAS CAPITAL PARTNERS II 155,400 5,321,984WCAS CAPITAL PARTNERS III 1,120,000 121,792,160WCAS VI 364,600 13,768,390WCAS VII 698,947 41,058,244

Total Private Equity 563,905,709



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University of California Retirement PlanTotal Equity

December 31, 2002


Total Equities 20,630,224,074

Cash and equivalents 94,446,000% of Portfolio 0.46%

Total University of California Retirement Plan Equity Portfolio 20,724,670,074


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UNIVERSITY OF CALIFORNIA RETIREMENT PLANFixed Income Portfolio

December 31, 2003

DESCRIPTION PAR VALUE RATE MATURITY MARKET VALUE

ALCAN INC NC 6,000,000 5.200 1/15/2014 6,064,860ALCAN INC NC 11,500,000 6.125 12/15/2033 11,563,940ALCOA INC NC 5,000,000 5.375 1/15/2013 5,186,400ALLSTATE CORP NC 24,000,000 7.200 12/1/2009 27,669,840AMERICAN ELECTRIC POWER NC 7,000,000 5.250 6/1/2015 6,789,650AMERICAN GENERAL CAP II NC 15,000,000 8.500 7/1/2030 19,522,200AMERICAN INTERNATIONAL GROUP NC 42,000,000 4.250 5/15/2013 39,727,379ANADARKO FINANCE NC 23,500,000 7.500 5/1/2031 27,481,605AOL TIME WARNER INC NC 15,000,000 6.875 5/1/2012 16,861,501AOL TIME WARNER INC NC 26,000,000 7.625 4/15/2031 29,842,800AOL TIME WARNER INC NC 10,000,000 7.700 5/1/2032 11,639,100ARCEL FINANCE LIMITED NC 7,000,000 7.048 9/1/2011 7,210,000AT&T WIRELESS NC 11,500,000 8.125 5/1/2012 13,417,395ATHABASCA OIL SANDS NC 20,000,000 8.200 4/1/2027 23,490,340BECTON DICKINSON NC 7,000,000 4.900 4/15/2018 6,748,910BECTON DICKINSON NC 34,000,000 7.000 8/1/2027 38,614,140BELLSOUTH CORP NC 21,000,000 6.875 10/15/2031 23,151,029

BP CAP MKTS AMER NC 15,000,000 4.200 6/15/2018 13,599,578BRITISH SKY BROADCASTING NC 2,000,000 8.200 7/15/2009 2,381,280BRITISH SKY BROADCASTING GRO NC 5,000,000 6.875 2/23/2009 5,628,550BRITISH TEL PLC NC 24,500,000 8.875 12/15/2030 31,837,749BURLINGTON RESOURCES NC 24,300,000 9.875 6/15/2010 31,496,647CANADIAN NATL RAILROAD NC 22,000,000 6.800 7/15/2018 24,694,780CANADIAN NATL RAILROAD NC 21,025,000 6.900 7/15/2028 23,369,078CELULOSA ARAUCO NC 40,632,000 7.750 9/13/2011 46,957,590CEMEX S A PT09 50,000,000 9.625 10/1/2009 60,500,000

CENTEX NC 14,000,000 5.125 10/1/2013 13,783,560CENTEX NC 3,500,000 5.800 9/15/2009 3,754,415CIA BRASIL DE BEBIDAS NC 24,200,000 8.750 9/15/2013 25,652,000CINCINNATI GAS & ELEC NC 14,000,000 5.375 6/15/2033 12,473,020


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December 31, 2003

DESCRIPTION PAR VALUE RATE MATURITY MARKET VALUECRH AMERICA NC 10,000,000 5.300 10/15/2013 10,090,300CRH AMERICA NC 18,000,000 6.400 10/15/2033 18,498,599DOMINION RESOURCES NC 15,500,000 5.000 3/15/2013 15,465,435DOMINION RESOURCES NC 6,500,000 6.300 3/15/2033 6,591,910EATON CORP NC 8,750,000 8.100 8/15/2022 10,507,955ENBRIDGE ENERGY PARTNERS L P NC 8,500,000 4.750 6/1/2013 8,181,505ENCANA CORP NC 10,000,000 4.750 10/15/2013 9,838,200

ENERSIS NC 23,500,000 7.375 1/15/2014 24,274,539ENTERPRISE PRODUCTS NC 8,300,000 6.875 3/1/2033 8,248,457FEDERAL HOME LOAN BANK 186,000,000 5.375 2/15/2007 200,351,760FGCI POOL #B10827 49,812,907 4.500 11/1/2018 49,922,939FGCI POOL #E01084 10,523,740 5.500 1/1/2017 10,918,670FGCI POOL #E01098 20,915,531 6.000 2/1/2017 21,934,579FGCI POOL #E01251 16,123,682 5.500 11/1/2017 16,731,662FGCI POOL #E01311 13,643,712 5.500 2/1/2018 14,164,476FGCI POOL #E01388 11,471,887 4.000 5/1/2018 11,223,523

FGCI POOL #E01537 25,000,000 4.500 12/1/2018 25,055,223FGCI POOL #E96582 10,526,765 4.500 6/1/2018 10,550,018FGLMC POOL # C79601 9,662,092 5.000 5/1/2033 9,561,018FGLMC POOL #A12330 24,831,074 5.000 8/1/2033 24,555,946FGLMC POOL #A12886 43,537,439 5.000 8/1/2033 43,082,001FGLMC POOL #A13124 19,911,876 5.000 8/1/2033 19,703,581FGLMC POOL #A14235 35,626,380 5.000 10/1/2033 35,231,639FGLMC POOL #A14282 12,354,400 5.000 10/1/2033 12,225,162FGLMC POOL #A15676 33,615,021 6.500 11/1/2033 35,225,784FGLMC POOL #A15677 59,951,532 6.500 11/1/2033 62,824,287FGLMC POOL #A17021 39,000,000 5.500 1/1/2034 39,533,204FGLMC POOL #C01404 32,621,342 6.500 10/1/2032 34,150,698FGLMC POOL #C01673 49 853 317 5 000 11/1/2033 49 300 942


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December 31, 2003

DESCRIPTION PAR VALUE RATE MATURITY MARKET VALUEFIRSTENERGY CORP NC 9,500,000 7.375 11/15/2031 9,681,545FLORIDA POWER NC 10,000,000 5.100 12/1/2015 9,937,900FNARM POOL #758810 8,000,000 4.929 11/1/2033 8,123,672FNCI POOL #254308 2,575,074 6.500 5/1/2017 2,728,258FNCI POOL #254373 7,636,948 6.500 7/1/2017 8,091,248FNCI POOL #254719 35,349,204 4.500 4/1/2018 35,460,120FNCI POOL #254804 13,991,936 5.500 7/1/2018 14,524,827

FNCI POOL #545125 12,133,029 6.000 8/1/2016 12,729,835FNCI POOL #545296 13,177,789 6.000 11/1/2016 13,825,984FNCI POOL #555813 24,600,169 4.000 10/1/2018 24,013,696FNCI POOL #581853 25,500,029 6.000 7/1/2016 26,754,336FNCI POOL #598444 2,341,502 6.500 6/1/2017 2,480,792FNCI POOL #639018 3,108,267 6.500 4/1/2017 3,293,169FNCI POOL #645562 5,481,601 6.500 6/1/2032 5,733,232FNCI POOL #650503 8,809,986 6.500 6/1/2017 9,334,067FNCI POOL #651388 3,731,973 6.500 8/1/2017 3,953,977

FNCI POOL #652610 21,811,973 5.000 4/1/2018 22,296,197FNCI POOL #681357 21,919,427 5.000 3/1/2018 22,406,036FNCI POOL #681405 20,070,794 5.000 3/1/2018 20,516,364FNCI POOL #687579 1,876,790 6.500 4/1/2033 1,964,714FNCI POOL #689076 3,829,777 5.000 6/1/2018 3,914,798FNCI POOL #689080 21,865,374 5.000 6/1/2018 22,350,784FNCI POOL #689584 7,732,074 5.500 2/1/2018 8,026,555FNCI POOL #689613 5,689,268 4.500 5/1/2018 5,707,120FNCI POOL #689619 2,766,355 4.500 6/1/2018 2,775,035FNCI POOL #689620 7,498,436 5.000 6/1/2018 7,664,901FNCI POOL #689621 9,653,019 4.500 6/1/2018 9,683,307FNCI POOL #694431 33,199,690 5.000 3/1/2018 33,936,720FNCI POOL #695916 32 400 552 5 000 5/1/2018 33 119 842


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December 31, 2003

DESCRIPTION PAR VALUE RATE MATURITY MARKET VALUEFNCL POOL #662707 4,975,636 6.500 10/1/2032 5,204,041FNCL POOL #662950 10,489,726 6.500 2/1/2033 10,971,253FNCL POOL #669991 1,702,701 5.500 2/1/2033 1,728,497FNCL POOL #676904 3,293,861 6.000 1/1/2033 3,407,886FNCL POOL #676919 3,022,465 6.000 1/1/2033 3,127,095FNCL POOL #676956 18,335,930 5.000 1/1/2033 18,179,060FNCL POOL #677508 4,865,663 6.000 1/1/2033 5,036,423

FNCL POOL #677685 13,157,040 5.000 2/1/2033 13,043,930FNCL POOL #682059 8,967,510 5.500 4/1/2033 9,103,365FNCL POOL #683160 4,567,160 6.000 2/1/2033 4,727,444FNCL POOL #684687 41,501,931 6.000 2/1/2033 42,958,438FNCL POOL #684745 32,567,367 6.500 4/1/2033 34,093,086FNCL POOL #688178 15,162,196 5.500 3/1/2033 15,391,900FNCL POOL #689062 10,376,642 5.500 6/1/2033 10,533,846FNCL POOL #689100 52,089,390 5.500 2/1/2033 52,878,531FNCL POOL #689103 30,099,321 5.500 2/1/2033 30,555,318

FNCL POOL #689108 35,806,848 5.500 2/1/2033 36,349,313FNCL POOL #694517 37,791,051 5.500 4/1/2033 38,363,576FNCL POOL #694517 3,197,670 5.500 10/1/2033 3,246,114FNCL POOL #694758 14,348,277 5.500 4/1/2033 14,565,650FNCL POOL #695526 49,076,784 6.000 4/1/2033 50,799,130FNCL POOL #695539 15,050,454 5.500 4/1/2033 15,278,465FNCL POOL #702449 18,487,911 6.000 6/1/2033 19,136,743FNCL POOL #703337 11,716,419 5.500 4/1/2033 11,893,920FNCL POOL #704520 22,213,246 5.500 6/1/2033 22,549,771FNCL POOL #705209 18,769,467 5.500 5/1/2033 19,053,820FNCL POOL #707281 26,415,183 6.000 5/1/2033 27,342,222FNCL POOL #709519 31,159,931 5.500 6/1/2033 31,631,996FNCL POOL #710141 10 422 079 5 500 5/1/2033 10 579 971


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19/149


December 31, 2003

DESCRIPTION PAR VALUE RATE MATURITY MARKET VALUEFORD MOTOR CREDIT NC 25,300,000 7.450 7/16/2031 25,524,917FREDDIE MAC NC 41,000,000 4.000 6/12/2013 38,290,719FREDDIE MAC NC 88,750,000 4.875 11/15/2013 89,642,822FREDDIE MAC NC 85,550,000 5.875 3/21/2011 92,618,997GENERAL ELECTRIC CAPITAL NC 57,000,000 6.750 3/15/2032 63,325,290GENERAL ELECTRIC COMPANY NC 106,000,000 5.000 2/1/2013 107,076,959GEORGIA POWER NC 15,000,000 5.125 11/15/2012 15,228,900

GEORGIA POWER NC 5,000,000 5.750 4/15/2023 4,956,802GMAC NC 23,500,000 8.000 11/1/2031 26,283,575GMC NC 8,000,000 8.250 7/15/2023 9,033,440GMC NC 23,000,000 8.375 7/15/2033 26,686,440GNMA-I POOL #603419 15,334,879 5.500 2/15/2033 15,638,304GNMA-I POOL #781130 14,072,819 7.000 1/15/2030 14,995,433GNMA-II POOL #2824 3,009,272 7.000 10/20/2029 3,200,193GNMA-II POOL #2999 7,428,188 7.500 11/20/2030 7,931,359GNMA-II POOL #3011 4,007,723 7.500 12/20/2030 4,279,198

GNMA-II POOL #3334 28,797,222 6.000 1/20/2033 29,960,286GNR 02-45 VA 16,673,457 6.000 4/20/2013 17,506,421GNR 02-46 PD 27,040,000 6.000 7/20/2007 27,810,251GNSF POOL #598267 3,813,286 6.000 6/15/2033 3,972,581GNSF POOL #612376 39,954,640 5.500 11/15/2033 40,745,207GNSF POOL #781324 12,065,211 7.000 7/15/2031 12,838,066GOLDMAN SACHS NC 30,500,000 4.750 7/15/2013 29,658,199GOLDMAN SACHS NC 25,000,000 6.125 2/15/2033 25,205,999GRAND MET INVT CORP NC 27,000,000 9.000 8/15/2011 34,432,830GRUMA SA DE CV NC 13,055,000 7.625 10/15/2007 14,034,125GRUPO TELEVISA SA NC 29,000,000 8.000 9/13/2011 32,335,000GRUPO TELEVISA SA NC 26,800,000 8.500 3/11/2032 28,140,000HAROT 2002 3 A3 2 000 000 3 000 5/18/2006 2 020 312


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December 31, 2003

DESCRIPTION PAR VALUE RATE MATURITY MARKET VALUELOBLAW CO. LTD RESIDS NC 40,000,000 0.000 5/23/2031 5,421,854LOCKHEED MARTIN CORP NC 9,500,000 8.500 12/1/2029 12,412,510LORAL NC 26,300,000 7.000 9/15/2023 28,912,379M & I CAPITAL SEC. NC06 12,200,000 7.650 12/1/2026 13,433,664MASCO NC 13,000,000 7.125 8/15/2013 14,968,850MELLON A CAPITAL SEC. C 16,500,000 7.720 12/1/2026 18,301,800MERCK NC 5,000,000 5.950 12/1/2028 5,196,250

MERCK NC 11,000,000 6.400 3/1/2028 12,073,050MORGAN STANLEY NC 38,000,000 5.300 3/1/2013 38,799,518NAROT 2002-C A4 12,000,000 3.330 1/15/2008 12,260,400NISOURCE FINANCE NC 16,500,000 5.400 7/15/2014 16,711,695NORFOLK SOUTHERN NC 13,161,000 9.000 3/1/2021 17,060,605NORWEST NC 30,000,000 6.750 12/15/2027 32,741,400OHIO POWER COMPANY NC 4,445,000 6.600 2/15/2033 4,781,353PCCW-HKTC CAP NC 19,000,000 6.000 7/15/2013 19,495,581PEMEX PRJT FDG MASTER TR 144A NC 13,000,000 8.625 2/1/2022 14,332,500

PEMEX PROJECT NC 4,000,000 6.125 8/15/2008 4,200,000PEMEX PROJECT NC 13,000,000 7.375 12/15/2014 13,812,500PEMEX PROJECT NC 17,000,000 8.000 11/15/2011 18,997,500PFIZER INC NC 5,000,000 4.650 3/1/2018 4,770,150PROGRESS ENERGY NC 9,000,000 7.000 10/30/2031 9,605,970PSI ENERGY INC NC 13,000,000 5.000 9/15/2013 12,842,440REPUBLIC OF BRAZIL NC 19,000,000 9.250 10/22/2010 20,425,000REPUBLIC OF BRAZIL NC 26,400,000 10.000 8/7/2011 29,436,000RFCO STRIPS NC 100,000,000 0.000 1/15/2013 65,878,700ROYAL BK SCOTLAND NC 24,500,000 4.700 7/3/2018 22,652,700ROYAL BK SCOTLAND NC 8,000,000 6.400 4/1/2009 8,811,200RYLAND GROUP NC 8,000,000 5.375 6/1/2008 8,120,000SBC COMMUNICATIONS NC 18 500 000 5 875 8/15/2012 19 567 449


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December 31, 2003

DESCRIPTION PAR VALUE RATE MATURITY MARKET VALUETELEFONOS MEXICO NC 32,720,000 8.250 1/26/2006 36,025,701TIME WARNER ENTERTAINMENT NC 25,000,000 8.375 7/15/2033 31,577,250TIME WARNER ENTERTAINMENT NC 10,500,000 8.875 10/1/2012 13,307,700TIME WARNER INC. NC 4,800,000 6.875 6/15/2018 5,285,136TOYOTA MTR CRED NC 4,000,000 5.650 1/15/2007 4,340,760TRANSCANADA PIPELINE NC 21,320,000 8.290 2/5/2026 20,455,718U.S.BANCORP CAP A SEC. NC06 19,000,000 8.270 12/15/2026 22,235,510UNITED MEXICAN STATES

NC

12,000,000

6.375

1/16/2013

12,510,000

UNITED MEXICAN STATES NC 24,500,000 7.500 4/8/2033 25,357,500UNITED MEXICAN STATES NC 23,300,000 8.125 12/30/2019 25,921,250UNIVISION COMM INC NC 7,500,000 3.875 10/15/2008 7,452,975UNIVISION COMM INC NC 12,000,000 7.850 7/15/2011 14,073,840US BANK NA NC 19,000,000 4.800 4/15/2015 18,499,160US BANK NA NC 8,000,000 6.375 8/1/2011 8,904,320US TREASURY BOND NC 521,442,000 5.250 11/15/2028 525,905,559US TREASURY BOND NC 429,000,000 6.000 2/15/2026 475,512,193

US TREASURY BOND NC 409,900,000 6.250 8/15/2023 467,335,192US TREASURY BOND NC 233,750,000 7.875 2/15/2021 311,333,948US TREASURY BOND NC 102,000,000 8.125 8/15/2021 139,226,940US TREASURY BOND NC 44,462,000 8.750 5/15/2017 62,342,392US TREASURY NOTE NC 16,600,000 4.000 11/15/2012 16,438,482US TREASURY NOTE NC 58,025,000 4.875 2/15/2012 61,456,599US TREASURY NOTE NC 103,900,000 5.750 8/15/2010 116,567,489US TREASURY NOTE NC 31,800,000 6.000 8/15/2009 36,007,459US TREASURY NOTE NC 311,250,000 6.500 2/15/2010 361,467,084US TREASURY NOTES NC 206,000,000 1.625 9/30/2005 205,948,496US TREASURY STRIPS NC 50,000,000 0.000 2/15/2013 33,425,499US TREASURY(INTPT)STRIPS NC 75,000,000 0.000 5/15/2013 49,358,248US TREASURY(INTPT)STRIPS NC 100 000 000 0 000 5/15/2014 61 855 000


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UNIVERSITY OF CALIFORNIA RETIREMENT PLANTIPS Portfolio

December 31, 2003

DESCRIPTION PAR VALUE RATE MATURITY MARKET VALUETREASURY INFLATION INDEX NC 188,845,000 1.875 7/15/2013 188,888,172TREASURY INFLATION INDEX NC 207,205,000 3.000 7/15/2012 232,460,260TREASURY INFLATION INDEX NC 155,880,000 3.375 1/15/2007 197,152,356TREASURY INFLATION INDEX NC 58,401,000 3.375 1/15/2012 68,093,219TREASURY INFLATION INDEX NC 46,757,000 3.375 4/15/2032 60,262,952TREASURY INFLATION INDEX NC 107,265,000 3.500 1/15/2011 128,112,349TREASURY INFLATION INDEX NC 160,797,000 3.625 1/15/2008 203,616,441TREASURY INFLATION INDEX NC 153,387,000 3.625 4/15/2028 217,642,595TREASURY INFLATION INDEX NC 147,772,000 3.875 1/15/2009 188,214,432TREASURY INFLATION INDEX NC 179,612,000 3.875 4/15/2029 262,013,591TREASURY INFLATION INDEX NC 104,829,000 4.250 1/15/2010 133,985,332

Total TIPS Portfolio 1,880,441,699


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December 31, 2003

Total Fixed Income Portfolio 11,708,772,453Cash and Equivalents 230,452,000

TOTAL UCRP FIXED INCOME PORTFOLIO 11,939,224,453


24/149

UNIVERSITY OF CALIFORNIA RETIREMENT PLANPublic Equities

December 31, 2003


PRIVATE EQUITY DISTRIBUTIONS 1,075,970 8,982,741CGI EMERGING MARKETS GF 4,543,262 277,547,895EAFE INDEX FUND 32,182,106 2,834,350,824TEMPLETON EMERGING MKTS 4,511,938 54,910,287GENESIS EMERGING MARKETS 543,487 114,522,611GMO EMERGING MARKETS FUND 652,378 9,629,093RUSSELL 3000 INDEX FUND 131,477,096 17,209,680,654RUSSELL 3000 INDEX TRANS FUNDS 43,825,699 5,736,560,246

Total Public Equities 26,246,184,351% of Portfolio 97.9%


25/149

UNIVERSITY OF CALIFORNIA RETIREMENT PLANPrivate Equity

December 31, 2003


ACCEL VIII 81,819 4,251,161AIG ASIAN INFRASTRUCTURE 499,854 3,458,493AIG ASIAN INFRASTRUCTURE II 547,528 23,062,965AIG GE CAP LATIN AMER 708,951 42,701,537AIG INDIAN SEC. EQUITY 89,698 6,282,179ALTA S D III 74,000 2,235,540ARSENAL CAPITAL PARTNERS QPF 63,233 4,227,963BLACKSTONE CAPITAL PARTNERS IV 76,928 7,683,174CHINA VEST IV 146,000 2,523,902

DE NOVO VENTURES II LP 17,254 1,725,425DELPHI MANAGEMENT PARTNERS, L.P. 6 6DOMAIN PARTNERS VI, L.P. 5,176 517,628FREMONT PARTNERS III LP 60,555 6,055,463GLOBESTPAN CAPITAL PARTNERS IV 10,228 1,022,832GOLDER THOMA CRESSEY III 127,275 3,967,798GOLDER THOMA CRESSEY IV 179,848 213,300GOLDER THOMA CRESSEY V 280,218 16,025,128HUMMER WINBLAD III 70,155 1,373,004INSTITUTIONAL VENTURE IV 106,440 1,889,097INSTITUTIONAL VENTURE V 97,137 49,151INSTITUTIONAL VENTURE VI 82,900 1,911,757INSTITUTIONAL VENTURE VII 125,790 8,861,025INSTITUTIONAL VENTURE VIII 211,058 11,170,007INTERSOUTH PARTNERS V 112,050 7,397,877INTERSOUTH PARTNERS VI, L.P. 13,043 929,943INTERWEST PARTNERS IV 85,600 136,789INTERWEST PARTNERS V 124,680 2,248,230INTERWEST PARTNERS VI 106,004 7,253,960

INTERWEST PARTNERS VII 100,161 3,886,333INTERWEST PARTNERS VIII 225,000 13,905,450INVERNESS PARTNERS II L.P. 8,683 805,913INVESTMENT CO OF CHINA 940,000 1,671,320


26/149

UNIVERSITY OF CALIFORNIA RETIREMENT PLANPrivate Equity

December 31, 2003

ISSUER SHARES MARKET VALUERIPPLEWOOD PARTNERS II, L.P. 21,120 1,291,112SEQUOIA CAPITAL FRANCHISE 122,354 5,082,356SEQUOIA CAPITAL GROWTH 79,876 272,297SEQUOIA CAPITAL III 35,920 30,532SEQUOIA CAPITAL IX 116,550 3,639,157SEQUOIA CAPITAL VI 61,680 922,171SEQUOIA CAPITAL VII 90,815 4,127,814SEQUOIA CAPITAL VIII 115,372 4,992,493SEQUOIA CAPITAL X 178,920 9,229,946SKM EQUITY FUND II 373,218 18,079,044TECHNOLOGY VENTURE IV 100,080 880,304VENTURE STRATEGY PARTNERS II 91,125 3,583,582VERSANT VENTURES I 126,000 11,397,582VERSANT VENTURES II 67,500 5,617,418WARBURG PINCUS PRIVATE EQTY VIII 200,551 15,998,561WCAS CAPITAL PARTNERS II 155,400 4,210,874WCAS VI 364,600 11,589,905

WCAS VII 698,947 29,628,363WELSH CARSON CP III 1,260,000 113,150,520

Total Private Equity 526,826,614% of Portfolio 2.0%


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UNIVERSITY OF CALIFORNIA RETIREMENT PLANTotal Equity

December 31, 2003

Total Equities 26,773,010,965

Cash and Equivalents 27,628,000% of Portfolio 0.1%

TOTAL UCRP EQUITY PORTFOLIO 26,800,638,965


28/149

UNIVERSITY OF CALIFORNIA RETIREMENT PLANBOND PORTFOLIODecember 31, 2004

DESCRIPTION PAR VALUE RATE MATURITY MARKET VALUEALCAN INC NC 6,000,000 5.200 1/15/2014 6,157,274ALCAN INC NC 8,000,000 6.125 12/15/2033 8,508,343ALLSTATE CORP NC 10,800,000 5.000 8/15/2014 10,850,001ALLSTATE CORP NC 10,500,000 7.200 12/1/2009 11,897,015AMERICA MOVIL NC 23,900,000 5.500 3/1/2014 23,765,442AMERICA MOVIL SA NC 18,700,000 5.750 1/15/2015 18,739,083AMERICAN ELEC PWR INC NC 4,500,000 5.375 3/15/2010 4,692,085AMERICAN ELECTRIC POWER NC 9,000,000 5.250 6/1/2015 9,022,327AMERICAN GENERAL CAP II NC 13,000,000 8.500 7/1/2030 17,374,674AMERICAN GENERAL FINANCE NC 13,500,000 4.000 3/15/2011 13,066,729

AMERICAN INTERNATIONAL GROUP NC 26,000,000 4.250 5/15/2013 25,112,385ANADARKO FINANCE NC 23,500,000 7.500 5/1/2031 28,948,431AOL TIME WARNER INC NC 16,500,000 7.625 4/15/2031 19,958,662ARCEL FINANCE LIMITED NC 11,000,000 7.048 9/1/2011 11,241,560AT&T WIRELESS NC 14,000,000 8.125 5/1/2012 16,916,739ATHABASCA OIL SANDS NC 20,000,000 8.200 4/1/2027 24,281,576BAFC 2004-1 40,623,738 6.000 2/25/2034 41,623,537BECTON DICKINSON NC 21,500,000 7.000 8/1/2027 25,134,986BECTON DICKINSON & CO NC 3,500,000 4.550 4/15/2013 3,464,397

BELLSOUTH CORP NC 13,000,000 4.750 11/15/2012 13,096,879BELLSOUTH CORP NC 11,250,000 5.200 9/15/2014 11,474,014BELLSOUTH CORP NC 10,000,000 5.200 12/15/2016 10,054,628BELLSOUTH CORP NC 14,790,000 6.550 6/15/2034 16,113,507BOAA 2004 14,127,080 6.000 2/25/2034 14,487,167BOAA 2004-2 3A1 18,191,872 6.000 3/25/2034 18,656,367BOAMS 2004-1 2A1 19,564,761 5.500 2/25/2034 19,659,073BOAMS 2004-7 4A1 12,706,060 5.000 8/25/2019 12,807,769BP CAP MKTS AMER NC 15,000,000 4.200 6/15/2018 13,782,671

BRITISH SKY BROADCASTING NC 9,545,000 8.200 7/15/2009 11,032,030BRITISH SKY BROADCASTING GRP NC 5,000,000 6.875 2/23/2009 5,484,181BRITISH TEL PLC NC 24,500,000 8.875 12/15/2030 32,724,480BURLINGTON RESOURCES NC 11,000,000 7.200 8/15/2031 13,150,703


29/149


DESCRIPTION PAR VALUE RATE MATURITY MARKET VALUECITIGROUP INC NC 15,000,000 6.000 2/21/2012 16,419,008CLEAR CHANNEL COMMUNICATION NC 7,000,000 5.500 9/15/2014 7,016,004CLEAR CHANNEL COMMUNICATIONS NC 4,000,000 4.250 5/15/2009 3,954,707CLEAR CHANNEL COMMUNICATIONS NC 9,500,000 4.400 5/15/2011 9,207,725CMSI 2004-5 23A5 19,434,195 4.500 8/25/2034 19,197,341CODELCO INC NC 13,500,000 4.750 10/15/2014 13,243,420CODELCO INC NC 15,000,000 6.375 11/30/2012 16,540,523COMCAST CABLE COMMUNICATIONS NC 18,200,000 8.875 5/1/2017 23,802,203COMCAST CORP NC 6,750,000 5.500 3/15/2011 7,123,329COMCAST CORP NC 6,800,000 5.850 1/15/2010 7,251,932

COMCAST CORP NC 29,200,000 6.500 1/15/2015 32,408,554COMCAST CORP NC 19,500,000 7.050 3/15/2033 22,280,010COSOLIDATED NATURAL GAS NC 12,000,000 5.000 3/1/2014 12,088,505COUNTRYWIDE FINANCIAL NC 7,800,000 4.000 3/22/2011 7,561,300COX COMMUNICATIONS INC NEW NC 14,400,000 5.500 10/1/2015 14,319,953COX COMMUNICATIONS INC. NC 9,800,000 4.625 1/15/2010 9,798,300CRH AMERICA NC 10,700,000 5.300 10/15/2013 10,949,479CRH AMERICA NC 25,000,000 6.400 10/15/2033 27,065,491CWHL 2003-50 A1 16,128,941 5.000 11/25/2018 16,274,714

D.R. HORTON INC. NC 17,500,000 5.625 1/15/2016 17,215,625DAIMLERCHRYS NA NC 8,650,000 8.500 1/18/2031 10,737,508DANA CORPORATION NC 7,400,000 5.850 1/15/2015 7,326,000DELHAIZE AMER INC NC 12,850,000 9.000 4/15/2031 16,625,330DEV BANK SINGAPORE NC 22,500,000 5.000 11/15/2019 22,331,025DEVELOPERS DIVERS REALTY NC 12,550,000 5.250 4/15/2011 12,771,916DIAGEO FINANCE NC 32,000,000 3.875 4/1/2011 31,226,731DIAMLERCHRYSLER NA HLDG NC 4,500,000 6.500 11/15/2013 4,865,296DR HORTON INC NC 2,900,000 5.000 1/15/2009 2,921,750

DR HORTON INC. NC 8,600,000 5.625 9/15/2014 8,578,500EATON CORP NC 8,750,000 8.100 8/15/2022 11,301,246EMPRESA NACIONAL DE ELCTRCID NC 4,500,000 8.500 4/1/2009 5,118,721ENBRIDGE ENERGY PARTNERS L P NC 19,100,000 4.750 6/1/2013 18,646,589


30/149


DESCRIPTION PAR VALUE RATE MATURITY MARKET VALUEFEDERAL NATL MTG ASSN NC 200,000,000 3.750 9/15/2008 198,908,400FEDERAL NATL MTG ASSN NC 90,600,000 4.625 5/1/2013 89,787,898FGCI PL B14157 11,945,977 4.000 5/1/2019 11,686,690FGCI POOL #B10827 43,210,195 4.500 11/1/2018 43,208,069FGCI POOL #B11815 22,514,111 4.500 1/1/2019 22,513,003FGCI POOL #B13457 20,201,050 4.500 1/1/2019 20,156,416FGCI POOL #E01084 8,284,300 5.500 1/1/2017 8,561,789FGCI POOL #E01098 13,818,746 6.000 2/1/2017 14,488,061FGCI POOL #E01251 12,581,047 5.500 11/1/2017 12,999,949FGCI POOL #E01311 10,601,546 5.500 2/1/2018 10,955,716

FGCI POOL #E01537 2,421,776 4.500 12/1/2018 2,421,657FGLMC POOL # C79601 8,481,200 5.000 5/1/2033 8,453,738FGLMC POOL #A12330 21,669,641 5.000 8/1/2033 21,599,474FGLMC POOL #A12886 39,863,669 5.000 8/1/2033 39,734,590FGLMC POOL #A14235 32,249,782 5.000 10/1/2033 32,145,356FGLMC POOL #A14282 11,363,855 5.000 10/1/2033 11,327,058FGLMC POOL #C01404 20,427,173 6.500 10/1/2032 21,411,579FGLMC POOL #C76289 9,777,951 6.000 1/1/2033 10,099,828FGLMC POOL #C77031 24,243,882 6.000 3/1/2033 25,041,957

FGLMC POOL #G01674 17,851,934 5.500 4/1/2034 18,157,727FGLMC POOL 78907 7,097,867 5.000 5/1/2033 7,074,884FGLMC POOL C01676 56,552,719 6.000 11/1/2033 58,414,356FGTW POOL C90847 19,071,705 6.000 8/1/2024 19,806,680FGTW POOL C90865 16,285,370 6.000 11/1/2024 16,912,967FHARM POOL #781285 17,842,082 4.780 2/1/2034 18,012,438FHLG POOL #C62885 7,752,066 6.500 1/1/2032 8,125,646FHR 2567 MC 6,148,550 4.000 12/15/2032 6,152,627FHR 2601 TA 12,238,336 4.000 10/15/2022 12,099,134

FIFTH THIRD BANK NC 25,000,000 3.375 8/15/2008 24,636,807FIRSTENERGY CORP NC 4,200,000 5.500 11/15/2006 4,325,442FIRSTENERGY CORP NC 2,360,000 6.450 11/15/2011 2,558,711FIRSTENERGY CORP NC 26,500,000 7.375 11/15/2031 30,153,224


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DESCRIPTION PAR VALUE RATE MATURITY MARKET VALUEFNCI POOL #545125 4,015,121 6.000 8/1/2016 4,207,201FNCI POOL #545296 8,149,202 6.000 11/1/2016 8,539,051FNCI POOL #555813 22,303,514 4.000 10/1/2018 21,795,688FNCI POOL #639018 3,195,188 6.500 4/1/2017 3,384,609FNCI POOL #645562 3,621,542 6.500 6/1/2032 3,793,725FNCI POOL #651388 2,228,505 6.500 8/1/2017 2,360,619FNCI POOL #652610 18,380,368 5.000 4/1/2018 18,698,037FNCI POOL #681357 18,561,118 5.000 3/1/2018 18,881,911FNCI POOL #681405 16,922,773 5.000 3/1/2018 17,215,250FNCI POOL #687579 1,215,804 6.500 4/1/2033 1,272,945



FNCI POOL #755497 8,516,814 5.500 11/1/2018 8,807,344FNCL PL 255458 29,591,192 5.500 11/1/2034 30,060,823FNCL PL 763681 8,615,014 5.500 1/1/2034 8,755,920FNCL POO1 #748794 8,640,474 6.500 11/1/2033 9,046,561


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DESCRIPTION PAR VALUE RATE MATURITY MARKET VALUEFNCL POOL #689108 30,170,864 5.500 2/1/2033 30,664,334FNCL POOL #694517 31,846,785 5.500 4/1/2033 32,367,665FNCL POOL #702449 14,693,015 6.000 6/1/2033 15,184,587FNCL POOL #705209 16,491,979 5.500 5/1/2033 16,761,719FNCL POOL #709519 27,452,431 5.500 6/1/2033 27,901,438FNCL POOL #710141 9,311,959 5.500 5/1/2033 9,464,263FNCL POOL #721211 16,218,578 5.000 6/1/2033 16,145,924FNCL POOL #726054 16,971,349 5.500 6/1/2033 17,248,929FNCL POOL #747817 35,665,538 4.500 11/1/2018 35,666,139FNCL POOL #748767 14,220,536 6.500 11/1/2033 14,888,876

FNCL POOL #748768 4,875,148 7.000 11/1/2033 5,151,498FNCL POOL #748795 3,798,494 7.000 11/1/2033 4,013,813FNCL POOL #749770 12,316,665 6.000 11/1/2033 12,728,734FNCL POOL #753035 175,258 6.500 12/1/2033 183,494FNCL POOL #753093 12,745,049 6.500 12/1/2033 13,344,044FNCL POOL #753412 13,820,706 5.500 11/1/2033 14,046,755FNCL POOL #753466 8,403,233 5.500 11/1/2033 8,540,674FNCL POOL #753595 16,037,991 6.000 11/1/2033 16,574,561FNCL POOL #757113 3,432,867 6.000 12/1/2033 3,547,718

FNCL POOL #766748 23,863,184 5.500 3/1/2034 24,241,908FNCL POOL #790927 12,910,111 6.000 9/1/2034 13,346,936FNCL POOL #793349 55,947,382 6.000 8/1/2034 57,840,410FNCL POOL #794921 132,193,329 5.500 10/1/2034 134,291,321FNCL POOL #794967 11,640,876 5.500 10/1/2034 11,825,624FNCL POOL #794978 23,839,468 5.500 10/1/2034 24,217,816FNCL POOL 793999 26,591,953 5.500 9/1/2034 27,013,985FNCL POOL 794256 46,587,919 5.500 9/1/2034 47,327,299FNCLTBA 578,803 6.500 5/1/2034 606,321

FNCT POOL #255417 23,045,868 6.000 9/1/2024 23,932,986FNCT POOL #255511 10,558,730 6.000 11/1/2024 10,965,174FNCT POOL #747580 6,828,327 6.000 11/1/2023 7,088,677FNGT 2004-T1 18,573,474 6.500 1/25/2044 19,552,209


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DESCRIPTION PAR VALUE RATE MATURITY MARKET VALUEFNMA POOL #640008 4,808,742 7.000 4/1/2032 5,087,224FNMA POOL #672415 6,400,339 6.500 9/1/2032 6,704,637FNMA POOL #676868 7,227,402 6.000 1/1/2033 7,469,690FNMA POOL #753077 4,243,354 6.500 12/1/2033 4,442,784FNMA-POOL #627118 14,296,910 7.000 3/1/2032 15,124,868FNR 03-18 PA 6,952,238 4.000 7/25/2032 6,796,111FNR 03-19 ME 5,023,331 4.000 3/25/2031 5,020,164FNR 03-42 CA 2,993,068 4.000 5/25/2033 2,926,870FNR 03-58 MC 7,757,610 3.750 7/25/2033 7,481,038FNR 03-63 GU 13,976,508 4.000 7/25/2033 14,014,576

FNR 03-63 TJ 48,494,584 3.000 8/25/2032 45,770,599FNR 2003-20 2,218,908 4.500 3/25/2031 2,230,033FORD MOTOR CREDIT NC 15,000,000 6.625 10/1/2028 13,855,202FORD MOTOR CREDIT NC 3,000,000 7.375 2/1/2011 3,231,430FORD MOTOR CREDIT NC 11,500,000 7.450 7/16/2031 11,452,996FORD MOTOR CREDIT CO NC 11,000,000 5.700 1/15/2010 11,090,726FREDDIE MAC NC 450,000,000 4.250 5/4/2009 450,961,110FREDDIE MAC NC 303,000,000 5.000 1/30/2014 303,779,195FREDDIE MAC NC 50,000,000 6.250 3/5/2012 52,235,015

GENERAL ELECTRIC CAPITAL NC 92,000,000 6.750 3/15/2032 107,464,721GENERAL ELECTRIC COMPANY NC 79,750,000 5.000 2/1/2013 81,835,498GENERAL MOTORS NC 30,700,000 8.250 7/15/2023 31,943,555GENERAL MOTORS NC 4,500,000 8.375 7/15/2033 4,628,908GEORGIA POWER NC 15,000,000 5.125 11/15/2012 15,345,737GEORGIA POWER NC 5,000,000 5.750 4/15/2023 5,061,566GMAC NC 6,800,000 6.750 12/1/2014 6,771,002GMAC NC 30,410,000 6.875 8/28/2012 30,742,361GMAC NC 5,500,000 8.000 11/1/2031 5,606,255

GNMA-I POOL #603419 12,684,033 5.500 2/15/2033 12,966,665GNMA-I POOL #781130 7,535,151 7.000 1/15/2030 7,998,728GNMA-II POOL #2824 1,594,969 7.000 10/20/2029 1,690,521GNMA-II POOL #2999 3,638,392 7.500 11/20/2030 3,891,662


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DESCRIPTION PAR VALUE RATE MATURITY MARKET VALUEGSR 2004-2F 14A1 11,491,231 5.500 9/25/2019 11,778,062HARRAHS OPERATING CO NC 15,750,000 5.500 7/1/2010 16,348,845HERTZ CORP NC 16,500,000 4.700 10/2/2006 16,667,730HILTON HOTELS NC 3,000,000 7.625 12/1/2012 3,505,573HUTCH WHAM INTL LTD NC 9,450,000 6.250 1/24/2014 9,929,111HUTCHISON WHAMP INTL LTD. NC 8,300,000 7.450 11/24/2033 9,157,031IBM CORP NC 20,000,000 4.750 11/29/2012 20,398,039IBM CORP NC 21,200,000 6.220 8/1/2027 23,201,979ILLINOIS STATE TAXABLE PENSION SNK 24 16,635,000 5.100 6/1/2033 15,979,082INTL BK R&D(INTPT)STRIPS NC 60,000,000 0.000 2/15/2016 33,564,708INTL BK R&D(PRNPT)STRIPS

NC

32,000,000

0.000

2/15/2015

19,297,885

JERSEY CENT PWR & LT CO NC 5,000,000 5.625 5/1/2016 5,215,469KFW INTL FINANCE NC 17,000,000 5.250 6/28/2006 17,500,310KIMBERLY CLARK DE MEX NC 30,000,000 8.875 8/1/2009 35,362,998L 3 COMMUNICATIONS CORP NC 8,700,000 6.125 1/15/2014 8,961,000L-3 COMMS CORP NC 13,300,000 5.875 1/15/2015 13,266,750LOBLAW NC 25,000,000 6.650 11/8/2027 22,692,420LOBLAW CO. LTD NC 28,000,000 6.500 1/22/2029 24,960,984LOBLAW CO. LTD RESIDS NC 40,000,000 0.000 5/23/2031 6,533,788

LOCKHEED MARTIN CORP NC 9,500,000 8.500 12/1/2029 12,975,448LORAL NC 26,300,000 7.000 9/15/2023 30,030,718LUBRIZOL CORP NC 14,250,000 4.625 10/1/2009 14,228,645LUBRIZOL CORP NC 2,500,000 6.500 10/1/2034 2,522,663M & I CAPITAL SEC. NC06 12,200,000 7.650 12/1/2026 13,122,710MASCO NC 6,000,000 7.125 8/15/2013 6,935,107MASTR 2003-10 1A1 56,979,893 5.500 11/25/2033 57,336,274MASTR 2003-7 1A2 12,731,636 5.500 9/25/2033 12,810,339MELLON A CAPITAL SEC. NC06 16,500,000 7.720 12/1/2026 17,907,366

MGM GRAND NC 11,000,000 6.000 10/1/2009 11,275,000MGM MIRAGE NC 14,175,000 6.750 9/1/2012 14,919,188MORGAN STANLEY NC 50,750,000 4.750 4/1/2014 49,455,660MSM 2004-3 23,384,454 6.000 4/25/2034 23,985,542


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DESCRIPTION PAR VALUE RATE MATURITY MARKET VALUEPEMEX PRJ FDG MASTER TR 144A NC 29,700,000 8.625 2/1/2022 34,526,250PEMEX PROJECT NC 8,250,000 6.125 8/15/2008 8,745,000PEMEX PROJECT NC 4,000,000 7.375 12/15/2014 4,440,000PEMEX PROJECT NC 14,500,000 8.000 11/15/2011 16,675,000PETROBRAS INTL FINANCE NC 5,500,000 7.750 9/15/2014 5,788,750PETRO-CANADA NC 11,500,000 5.000 11/15/2014 11,474,295PFIZER INC NC 5,000,000 4.650 3/1/2018 4,805,185PROGRESS ENERGY NC 16,000,000 7.000 10/30/2031 17,605,008PSI ENERGY INC NC 13,000,000 5.000 9/15/2013 12,982,467RALI 2004-QS6 A 37,067,438 5.000 5/25/2019 37,409,248RBS CAPITAL TRUST III

9/14@

28,900,000

5.512

9/29/2049

29,561,837

REPUBLIC OF BRAZIL NC 4,500,000 8.875 10/14/2019 4,740,750REPUBLIC OF BRAZIL NC 3,000,000 9.250 10/22/2010 3,352,500REPUBLIC OF BRAZIL NC 7,050,000 10.000 8/7/2011 8,170,950RFCO STRIPS NC 111,500,000 0.000 4/15/2016 64,923,651RFCO STRIPS NC 105,000,000 0.000 10/15/2017 55,711,194RFMSI 2003-28 A1 9,910,615 5.000 5/25/2018 9,998,933RFMSI 2004-S9 16,000,000 5.500 12/1/2034 16,102,500ROYAL BK SCOTLAND NC 8,000,000 6.400 4/1/2009 8,727,535

ROYAL CARIBBEAN CRUISES NC 7,250,000 6.875 12/1/2013 7,830,000ROYAL CARIBBEAN CRUISES NC 3,525,000 7.500 10/15/2027 3,846,656RYLAND GROUP NC 12,750,000 5.375 6/1/2008 13,260,000S A S C 2003-20 1A1 33,235,278 5.500 7/25/2033 33,440,865SASC 2003-30 1A1 39,606,844 5.500 10/25/2033 39,856,794SEARIVER MARITIME INC. NC 43,815,000 0.000 9/1/2012 31,290,803SHAW NC 18,000,000 7.500 11/20/2013 16,140,304SHAW COMMUNICATIONS INC NC 8,555,000 7.200 12/15/2011 9,442,581SIMON PROPERTY GROUP NC 8,390,000 4.875 8/15/2010 8,551,759

SOUTHERN POWER NC 20,000,000 4.875 7/15/2015 19,686,986SPRINT NC 43,000,000 6.875 11/15/2028 47,069,978SPRINT CAP CORP NC 19,650,000 6.900 5/1/2019 21,939,871STATE STREET BANK NC 3,500,000 5.250 10/15/2018 3,510,544


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DESCRIPTION PAR VALUE RATE MATURITY MARKET VALUETOYOTA MTR CRED NC 4,000,000 5.650 1/15/2007 4,202,436TRANS - CANADA PL NC 7,000,000 4.875 1/15/2015 6,976,243TRANSCANADA PIPELINE NC 21,320,000 8.290 2/5/2026 22,665,901U S TREAS BD STRIPPED PRIN NC 350,000,000 0.000 11/15/2016 202,779,514U S TREAS BD STRIPPED PRIN NC 700,000,000 0.000 11/15/2024 256,235,000U S TREAS BD STRIPPED PRIN NC 300,000,000 0.000 2/15/2025 108,231,000U S TREAS SEC STRIPPED INT PRIN NC 300,000,000 0.000 11/15/2024 109,161,003U S TREASURY BILL 7,617,000 0.000 2/24/2005 7,594,149U.S.BANCORP CAP A SEC. NC06 19,000,000 8.270 12/15/2026 21,033,465UNION ELECTRIC NC 12,000,000 5.100 10/1/2019 11,915,056UNITED MEXICAN STATES

NC

7,200,000

8.125

12/30/2019

8,478,000

UNITED MEXICAN STS MTN BE NC 22,810,000 4.625 10/8/2008 23,117,935UNITED STATES MEXICAN NC 14,200,000 6.750 9/27/2034 14,022,500UNIVISION COMM INC NC 7,500,000 3.875 10/15/2008 7,457,279US BANK NA NC 12,500,000 4.800 4/15/2015 12,400,793US TREASURY BONDS NC 7,750,000 7.875 2/15/2021 10,473,583US TREASURY BONDS NC 26,900,000 8.875 2/15/2019 38,724,971US TREASURY NOTES NC 63,700,000 5.750 8/15/2010 70,136,251US TREASURY NOTES NC 258,650,000 6.500 2/15/2010 292,846,119

US TREASURY STRIP NC 150,000,000 0.000 2/15/2013 106,663,502US TREASURY STRIPS NC 112,000,000 0.000 2/15/2018 59,969,279US TREASURY(INPUT)STRIPS NC 160,000,000 0.000 5/15/2017 89,849,597US TREASURY(INTPT)STRIPS NC 200,000,000 0.000 2/15/2017 113,520,004VALE OVERSEAS LIMITED NC 23,300,000 8.250 1/17/2034 24,523,250VERIZON GLOBAL NC 27,100,000 7.750 12/1/2030 33,648,333VERIZON NEW ENGLAND INC. NC 16,400,000 4.750 10/1/2013 15,977,082VERIZON NY INC. NC 12,930,000 7.375 4/1/2032 14,885,808VESSEL MGMT SVC TITLE XI NC 13,548,500 6.080 5/20/2024 14,765,291

VIRGINIA EL&PWR NC 26,500,000 4.750 3/1/2013 26,289,239VODAFONE GROUP NC 12,500,000 5.375 1/30/2015 12,948,995VODAFONE GROUP NC 5,000,000 7.750 2/15/2010 5,810,753WACHOVIA CAPITAL SEC. NC07 21,000,000 7.965 6/1/2027 24,216,788


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UNIVERSITY OF CALIFORNIA RETIREMENT PLANTIPS PORTFOLIO

December 31, 2004

DESCRIPTION PAR VALUE RATE MATURITY MARKET VALUE

TREASURY INFLATION INDEX NC 114,200,000 0.875 4/15/2010 113,925,475TREASURY INFLATION INDEX NC 192,017,000 1.875 7/15/2013 205,221,054TREASURY INFLATION INDEX NC 200,865,000 2.000 1/15/2014 214,807,683TREASURY INFLATION INDEX NC 180,845,000 2.000 7/15/2014 188,957,897TREASURY INFLATION INDEX NC 104,660,000 2.375 1/15/2025 113,212,707TREASURY INFLATION INDEX NC 212,075,000 3.000 7/15/2012 251,231,948TREASURY INFLATION INDEX NC 158,524,000 3.375 1/15/2007 202,311,981TREASURY INFLATION INDEX NC 60,184,000 3.375 1/15/2012 73,669,137TREASURY INFLATION INDEX NC 48,200,000 3.375 4/15/2032 68,540,952

TREASURY INFLATION INDEX NC 110,629,000 3.500 1/15/2011 137,795,555TREASURY INFLATION INDEX NC 165,870,000 3.625 1/15/2008 213,541,594TREASURY INFLATION INDEX NC 158,033,000 3.625 4/15/2028 244,606,297TREASURY INFLATION INDEX NC 151,682,000 3.875 1/15/2009 197,975,412TREASURY INFLATION INDEX NC 184,758,000 3.875 4/15/2029 294,062,992TREASURY INFLATION INDEX NC 108,144,000 4.250 1/15/2010 142,314,649

TOTAL TIPS PORTFOLIO 2,662,175,333Cash and Equivalents 272,000

TOTAL UCRP TIPS PORTFOLIO 2,662,447,333


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DESCRIPTION MARKET VALUE

TOTAL UCRP BOND PORTFOLIO 10,731,157,265TOTAL UCRP TIPS PORTFOLIO 2,662,447,333GRAND TOTAL UCRP BOND PORTFOLIO 13,393,604,598

UNIVERSITY OF CALIFORNIA RETIREMENT PLAN


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UNIVERSITY OF CALIFORNIA RETIREMENT PLANPUBLIC EQUITY

December 31, 2004


AMERICAN CENTURY SC CORE R2000 90,611,833 107,529,878

AMEX/KENWOOD SC VALUE R2000V 114,652,462 132,134,669ARK LC GROWTH 3,383,266 375,589,388AXA ROSENBERG SMC CORE R2500 94,891,713 107,157,037BURGUNDY SMC VALUE R2500V 88,764,529 102,107,436CGI EMERGING MARKETS GF 2,596,301 188,543,402CGT LC CORE 3,389,953 372,248,110CORTINA SC GROWTH R2000G 45,506,705 49,001,529DELAWARE SC GROWTH II R2000G 72,415,918 77,898,889EAFE INDEX FUND 31,176,202 3,311,421,597FRANKLIN PORTFOLIO LC CORE 4,367,408 478,266,933FREEMAN LC CORE 2,415,826 265,720,488GENESIS EMERGING MARKETS 543,487 162,308,837GMO EMERGING MARKETS FUND 3,597,504 61,733,172GSAM CONCENTRATED LC GROWTH 3,863,850 427,300,258HARRIS LC VALUE 3,390,407 370,724,356HOTCHKIS&WILEY LC DIVS. VALUE 3,888,139 435,460,299INTECH LC BROAD GROWTH 3,911,310 430,022,336IRONBRIDGE SC CORE R2000 113,855,061 129,709,948LSV LC VALUE 2,428,160 266,250,644

MAZAMA SMC GROWTH R2500G 99,740,883 102,645,537NWQ LC VALUE 2,425,196 263,208,191PZENA LC VALUE 3,368,609 371,572,174RUSSELL 1000 INDEX FUND 33,426,424 5,542,268RUSSELL 3000 INDEX FUND 119,941,211 17,567,940,702S & P 500 FUTURES 3/05 336 100,099,490STATE STREET RM SC GROWTH R2000G 175,117 1,641TEMPLETON EMERGING MKTS 4,511,938 68,085,147THORNBURG LC VALUE 3,384,753 372,699,330

TRANSAMERICA LC GROWTH 2,922,445 325,944,682UBS SC CORE R2000 103,632,382 116,651,615VICTORY LC DIVERSIFIED 2,429,751 262,006,342WELLINGTON LC GROWTH 2,898,856 319,278,717WELLINGTON SC VALUE R2000V 103 607 306 120 257 726



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December 31, 2004

ISSUER MARKET VALUE

PRIVATE EQUITY DISTRIBUTIONS 6,059,939BUYOUT FUNDS 198,399,329INTERNATIONAL PRIVATE EQUITY 92,587,649VENTURE CAPITAL PARTNERSHIPS 356,478,972REAL ESTATE 36,000,000

TOTAL PRIVATE EQUITY 689,525,889




41/149

UNIVERSITY OF CALIFORNIA RETIREMENT PLANTOTAL EQUITY

December 31, 2004


TOTAL EQUITIES 28,536,588,657

Cash and Equivalents 25,521,250


TOTAL UCRP EQUITY PORTFOLIO 28,562,109,907


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UCRP

Holdings as of December 31, 2005

EQUITY INVESTMENTS

EXTERNALLY MANAGED FUNDS

(SC = Small Cap LC + Large Cap)

Security Name Security Description Shares/Par Value Market Value

AMERICAN CENTURY SC 115,958,862.36

AMEX/KENWOOD SC 138,887,010.93

AQR NON-US 134,939,328.26

ARK ASSET MANAGEMENT CO INC LC 637,834,104.29

AXA ROSENBERG SC 119,731,612.22BRANDYWINE NON- US 133,599,430.37

BURGUNDY SC 99,925,337.51

CAPITAL GUARDIAN TRUST COMPANY LC 489,306,570.70

CAUSEWAY NON-US 264,541,934.46

CGI EMERGING MARKETS GF 130,959,204.58

CORTINA ASSET MGT SC 51,265,350.75

DELAWARE GROWTH LC 601,600,830.36

DELAWARE INV ADV SC 80,164,493.79

EAFE + CANADA TF INTL INDEX FD 1,013,267,642.97

FRANKLIN PORTFOLIO ASSOCIATES LC 508,352,776.03

FREEMAN ASSOCIATES INVESTMENT LC 297,403,730.93

GENESIS EMERGING MKT FD 223,289,652.69GMO NON US 187,638,618.62

GMO TR EMERGING MARKETS 90,293,299.98

GOLDMAN SACHS ASSET MGMT L P LC 444,933,502.46

HANSBERGER NON-US 144,992,109.61

HARRIS ASSOCIATES LP LC 494,764,243.53

HOTCHKIS + WILEY CAP MGMT LC 533,957,412.26

INTECH LC 465,367,504.37

IRONBRIDGE SC 134,412,958.93

JP MORGAN FLEMING NON-US 187,598,956.88

LSV ASSET MANAGEMENT LC 294,191,903.70

MAZAMA SC 113,047,413.95

MFS NON-US 260,585,091.34

MONDRIAN NON US 128,660,229.54

NEW STAR NON US 151,838,632.99

NWQ INVESTMENT MGT CP LLC LC 290,505,952.69

PANAGORA NON US


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AMERICA MOVIL S A DE C V 5.75% 15 Jan 2015 11,053,000 11,061,069.35

AMERICAN ELEC PWR INC 5.375% 15 Mar 2010 4,500,000 4,537,235.43

AMERICAN ELEC PWR INC 5.25% 01 Jun 2015 10,000,000 9,970,729.80

AMERICAN GEN CORP 8.5% 01 Jul 2030 5,700,000 7,614,302.76AMERICAN GEN FIN CORP MTN 4% 15 Mar 2011 13,500,000 12,779,289.00

AMERICAN GEN FIN CORP MTN 4.875% 15 Jul 2012 13,000,000 12,720,213.22

AMERICAN INTL GROUP INC 4.25% 15 May 2013 9,600,000 9,081,121.54

AMERICAN INTL GROUP INC 5.05% 01 Oct 2015 12,000,000 11,782,492.68

ANADARKO FIN CO 7.5% 01 May 2031 23,500,000 28,830,016.91

ARCEL FINANCE 7.048% 01 Sep 2011 8,507,700 8,540,029.26

AT+T WIRELESS 8.125% 01 May 2012 15,000,000 17,332,136.55

AT+T WIRELESS SVCS INC 8.75% 01 Mar 2031 24,150,000 32,008,846.87

ATHABASCA OIL SANDS INVTS INC 8.2% 01 Apr 2027 27,000,000 34,228,059.30

BAE SYS HLDGS INC 4.75% 15 Aug 2010 19,500,000 19,150,813.50

BANC AMER ALT LN TR 6% 25 Mar 2034 13,081,177 13,169,517.25

BANC AMER ALTERNATIVE LN TR 6% 25 Feb 2034 9,627,578 9,675,861.62

BANC AMER ALTERNATIVE LN TR 5.5% 25 Dec 2019 6,441,897 6,453,188.21

BANC AMER ALTERNATIVE LN TR 6% 25 Aug 2035 23,846,033 23,994,109.49

BANC AMER ALTERNATIVE LN TR 5.5% 25 Sep 2033 15,736,689 15,476,057.83

BANC AMER FDG CORP 6% 25 Feb 2034 29,734,380 29,948,143.14

BANC AMER FDG CORP 6% 25 Feb 2034 4,664,342 4,657,691.62

BANC AMER MTG SECS INC 5% 25 Aug 2019 10,769,510 10,570,490.52

BANC AMER MTG SECS INC 5.75% 25 Jan 2035 26,948,748 26,674,911.30

BANC AMER MTG SECS INC 5.18587% 25 Sep 2035 19,582,422 19,342,996.04

BANK AMER CORP 4.75% 01 Aug 2015 23,500,000 22,796,274.64

BECTON DICKINSON + CO 7% 01 Aug 2027 21,500,000 25,522,529.60

BECTON DICKINSON + CO 4.55% 15 Apr 2013 4,000,000 3,908,016.00BELLSOUTH CORP 6% 15 Nov 2034 19,400,000 19,338,831.80

BELLSOUTH CORP 4.75% 15 Nov 2012 13,000,000 12,657,452.73

BELLSOUTH CORP 5.2% 15 Dec 2016 10,000,000 9,796,143.30

BELLSOUTH TELECOMM INC 6.375% 01 Jun 2028 19,350,000 20,012,156.42

BHP BILLITON FIN USA LTD 5.25% 15 Dec 2015 9,500,000 9,566,140.90

BHP FINANCE USA 6.42% 01 Mar 2026 11,500,000 12,789,636.80

BP CAP MKTS AMER INC 4.2% 15 Jun 2018 20,000,000 18,195,588.00

BRAZIL FEDERATIVE REP 10% 07 Aug 2011 5,300,000 6,174,500.00

BRAZIL FEDERATIVE REP 8.25% 20 Jan 2034 12,500,000 13,250,000.00

BRAZIL FEDERATIVE REP 8.75% 04 Feb 2025 1,500,000 1,657,500.00

BRAZIL FEDERATIVE REP 7.875% 07 Mar 2015 4,500,000 4,781,250.00

BRITISH SKY BROADCASTING GROUP 8.2% 15 Jul 2009 9,845,000 10,754,498.23BRITISH SKY BROADCASTING GROUP 6.875% 23 Feb 2009 2,475,000 2,593,511.74

BURLINGTON RES FIN CO 7.2% 15 Aug 2031 11,000,000 13,583,000.09

BURLINGTON RES INC 9.875% 15 Jun 2010 20,500,000 24,473,781.50

CANADIAN NATL RY CO 6 9% 15 Jul 2028 17 775 000 20 883 666 73


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CRH AMER INC 5.3% 15 Oct 2013 9,005,000 9,038,886.27

CRH AMER INC 6.4% 15 Oct 2033 27,000,000 29,447,223.03

CWMBS INC 5% 25 Nov 2018 21,300,026 20,954,177.78

D R HORTON INC 6.875% 01 May 2013 4,000,000 4,174,188.00D R HORTON INC 5.625% 15 Sep 2014 26,100,000 25,140,981.60

DAIMLER CHRYSLER HLDGS 8.5% 18 Jan 2031 16,850,000 20,406,686.71

DAIMLERCHRYSLER NORTH AMER 4.875% 15 Jun 2010 13,000,000 12,681,697.73

DAIMLERCHRYSLER NORTH AMER HLD 6.5% 15 Nov 2013 5,480,000 5,730,056.35

DBS BK LTD SINGAPORE 1% 15 Nov 2019 22,500,000 21,892,860.00

DELHAIZE AMER INC 9% 15 Apr 2031 8,000,000 9,404,960.00

DELHAIZE AMER INC 8.125% 15 Apr 2011 3,000,000 3,270,201.00

DEVELOPERS DIVERSIFIED RLTY 5.25% 15 Apr 2011 12,550,000 12,445,212.39

DEVELOPERS DIVERSIFIED RLTY CO 5.5% 01 May 2015 8,000,000 7,962,648.80

DIAGEO CAP PLC 4.375% 03 May 2010 5,400,000 5,279,476.81

DIAGEO FIN BV 3.875% 01 Apr 2011 32,000,000 30,379,421.44

DIAGEO FIN BV 5.3% 28 Oct 2015 5,400,000 5,436,909.11

DIAMOND OFFSHORE DRILLING INC 4.875% 01 Jul 2015 16,750,000 16,285,791.67

EATON CORP 8.1% 15 Aug 2022 8,750,000 11,294,031.00

EMPRESA NACIONAL DE 8.5% 01 Apr 2009 11,330,000 12,356,928.54

EMPRESA NACIONAL DE ELECTRIC 8.35% 01 Aug 2013 6,492,000 7,393,849.16

ENBRIDGE ENERGY PARTNERS L P 4.75% 01 Jun 2013 4,700,000 4,475,062.70

ENCANA CORP 4.75% 15 Oct 2013 10,500,000 10,298,972.15

ENCANA CORP 6.5% 15 Aug 2034 21,750,000 24,414,680.37

ENERSIS S A 7.4% 01 Dec 2016 9,000,000 9,782,073.00

ENERSIS SA 7.375% 15 Jan 2014 20,500,000 22,050,333.00

ENTERPRISE PRODS OPER L P 6.875% 01 Mar 2033 21,000,000 22,482,356.40

ENTERPRISE PRODS OPER L P 5% 01 Mar 2015 19,350,000 18,445,908.02ENTERPRISE PRODUCTS OPER 4.95% 01 Jun 2010 7,431,000 7,286,132.58

EQUITY RESIDENTIAL 5.125% 15 Mar 2016 19,900,000 19,337,649.48

ERAC USA FIN CO 6.7% 01 Jun 2034 30,000,000 32,170,431.00

FED HM LN PC POOL 1B3816 4.918% 01 May 2035 3,787,097 3,730,046.51

FED HM LN PC POOL A14282 5% 01 Oct 2033 9,865,103 9,587,785.99

FED HM LN PC POOL A33799 6.5% 01 Mar 2035 2,128,100 2,179,032.25

FED HM LN PC POOL B10827 4.5% 01 Nov 2018 36,232,427 35,348,463.03

FED HM LN PC POOL B11064 5.5% 01 Nov 2018 2,466,922 2,481,366.99

FED HM LN PC POOL B11815 4.5% 01 Jan 2019 19,376,084 18,903,364.42

FED HM LN PC POOL B13457 4.5% 01 Apr 2019 18,024,723 17,567,864.58

FED HM LN PC POOL B14157 4% 01 May 2019 10,392,740 9,896,855.58

FED HM LN PC POOL C01676 6% 01 Nov 2033 40,925,628 41,319,279.16FED HM LN PC POOL C76289 6% 01 Jan 2033 6,581,897 6,645,206.09

FED HM LN PC POOL C78907 5% 01 May 2033 6,101,066 5,929,559.43

FED HM LN PC POOL C90847 6% 01 Aug 2024 15,948,310 16,179,676.44

FED HM LN PC POOL C90852 6% 01 Jul 2024 3 630 323 3 682 989 18


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FEDERAL NATL MTG ASSN 4% 25 Mar 2031 3,192,442 2,959,239.80

FEDERAL NATL MTG ASSN 5.125% 02 Jan 2014 185,300,000 186,094,066.09

FEDERAL NATL MTG ASSN 3.125% 15 Jul 2006 190,000,000 188,470,291.00

FEDERAL NATL MTG ASSN 6.5% 25 Jul 2044 31,452,758 31,925,200.80FEDERAL NATL MTG ASSN 3.875% 15 May 2007 65,000,000 64,316,148.00

FEDERAL NATL MTG ASSN GTD 3% 25 Aug 2032 34,676,506 31,668,274.15

FEDERAL NATL MTG ASSN GTD REMI 3.75% 25 Jul 2033 5,336,238 4,955,838.43

FHLMC TBA JAN 30 GOLD SINGLE 5.5% 01 Dec 2099 70,000,000 69,343,750.00

FHLMC TBA JAN 30 GOLD SINGLE 6% 01 Dec 2099 20,000,000 20,192,188.00

FIRST ENERGY CORP 7.375% 15 Nov 2031 41,500,000 48,685,444.05

FIRSTENERGY CORP 6.45% 15 Nov 2011 15,690,000 16,583,512.55

FLORIDA PWR CORP 5.1% 01 Dec 2015 10,000,000 9,870,132.40

FNMA TBA JAN 30 SINGLE FAM 5.5% 01 Dec 2099 463,000,000 458,442,320.60

FNMA GRANTOR TRUST 6.5% 25 Jan 2044 12,875,909 13,208,369.04

FNMA POOL 254147 6.5% 01 Jan 2032 909,645 935,134.63

FNMA POOL 254308 6.5% 01 May 2017 1,162,928 1,194,718.01

FNMA POOL 254342 6% 01 Jun 2017 221,103 225,798.26

FNMA POOL 254373 6.5% 01 Jul 2017 843,260 866,311.66

FNMA POOL 254443 6% 01 Sep 2017 1,496,594 1,528,372.35

FNMA POOL 254719 4.5% 01 Apr 2018 24,474,406 23,871,083.50

FNMA POOL 254804 5.5% 01 Jul 2018 7,483,135 7,528,397.33

FNMA POOL 255282 6% 01 Jun 2024 6,226,775 6,316,587.36

FNMA POOL 255342 6% 01 Jul 2024 12,447,915 12,627,458.54

FNMA POOL 255362 6% 01 Aug 2024 30,781,320 31,225,296.06

FNMA POOL 255417 6% 01 Sep 2024 18,371,207 18,636,184.82

FNMA POOL 255466 6% 01 Oct 2024 14,876,046 15,090,611.48

FNMA POOL 255511 6% 01 Nov 2024 10,906,029 11,063,332.48FNMA POOL 255561 6% 01 Dec 2024 2,337,602 2,371,318.19

FNMA POOL 357970 5% 01 Aug 2035 49,684,263 48,128,419.69

FNMA POOL 412286 6% 01 Jan 2013 318,097 325,216.93

FNMA POOL 545125 6% 01 Aug 2016 2,891,666 2,953,000.17

FNMA POOL 545296 6% 01 Nov 2016 5,916,091 6,041,575.13

FNMA POOL 545506 7% 01 Feb 2032 2,903,495 3,024,665.49

FNMA POOL 555273 6.5% 01 Dec 2032 820,552 843,544.46

FNMA POOL 555329 5% 01 Mar 2033 26,850,944 26,114,697.29

FNMA POOL 555813 4% 01 Oct 2018 19,371,173 18,494,351.63

FNMA POOL 555967 5.5% 01 Nov 2033 222,173,366 220,433,650.44

FNMA POOL 555969 4% 01 Dec 2018 19,813,372 18,916,534.60

FNMA POOL 572805 6% 01 Mar 2016 181,404 185,251.28FNMA POOL 580052 6% 01 Jul 2016 204,564 208,902.90

FNMA POOL 580848 6% 01 May 2016 29,122 29,739.52

FNMA POOL 581706 6.5% 01 Jul 2031 2,680,733 2,755,850.56

FNMA POOL 597545 6 5% 01 Sep 2031 1 874 163 1 926 678 93


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GNMA II POOL 002999 7.5% 20 Nov 2030 2,124,960 2,227,808.67

GNMA II POOL 003011 7.5% 20 Dec 2030 1,226,658 1,286,028.38

GNMA POOL 598267 6% 15 Jun 2033 2,173,991 2,224,459.01

GNMA POOL 603419 5.5% 15 Feb 2033 10,431,629 10,501,979.07GNMA POOL 612376 5.5% 15 Nov 2033 28,112,296 28,301,884.32

GNMA POOL 781130 7% 15 Jan 2030 4,667,508 4,903,954.03

GNMA POOL 781324 7% 15 Jul 2031 3,593,567 3,775,049.70

GOLDMAN SACHS CAP I 6.345% 15 Feb 2034 24,750,000 26,066,127.78

GOLDMAN SACHS GROUP INC 6.125% 15 Feb 2033 7,000,000 7,325,658.20

GOLDMAN SACHS GROUP INC 4.75% 15 Jul 2013 30,500,000 29,579,794.57

GOLDMAN SACHS GROUP INC 5.15% 15 Jan 2014 25,000,000 24,806,116.00

GRUPO TELEVISA SA 6.625% 18 Mar 2025 30,250,000 30,782,705.22

GRUPO TELEVISA SA DE CV 8.5% 11 Mar 2032 14,858,000 17,898,988.35

GS MTG SECS CORP 6.5% 25 Feb 2035 14,528,055 14,661,890.57

GSR MTG LN TR 5.5% 25 Sep 2019 8,627,014 8,595,336.77

HARRAHS OPER INC 5.5% 01 Jul 2010 19,750,000 19,733,331.79

HARRAHS OPER INC 5.625% 01 Jun 2015 8,900,000 8,731,368.41

HSBC BK USA 5.875% 01 Nov 2034 24,885,000 25,168,641.47

HSBC FIN CAP TR IX 5.911% 30 Nov 2035 9,000,000 9,101,526.03

HSBC FIN CORP 5% 30 Jun 2015 21,500,000 20,899,798.69

HUTCHISON WHAMPOA INTL 6.25% 24 Jan 2014 10,420,000 10,904,623.78

HUTCHISON WHAMPOA INTL LTD 7.45% 24 Nov 2033 29,300,000 33,842,613.40

ILLINOIS ST 5.1% 01 Jun 2033 6,635,000 6,553,522.20

INGERSOLL RAND CO 4.75% 15 May 2015 9,000,000 8,735,001.57

INTERNATIONAL BUSINESS MACHS 6.22% 01 Aug 2027 31,700,000 34,635,241.85

JPMORGAN CHASE + CO 5.15% 01 Oct 2015 42,550,000 41,940,814.20

JPMORGAN CHASE CAP XV 5.875% 15 Mar 2035 20,000,000 19,894,084.20KIMBERLY CLARK DE MEXICO SA 8.875% 01 Aug 2009 3,000,000 3,356,250.00

L 3 COMMUNICATIONS CORP 6.125% 15 Jan 2014 3,940,000 3,900,600.00

L 3 COMMUNICATIONS CORP 5.875% 15 Jan 2015 18,450,000 17,896,500.00

LEHMAN BROTHERS HLDGS INC 4.25% 27 Jan 2010 5,465,000 5,315,202.44

LEHMAN BROTHERS HLDGS INC 5% 14 Jan 2011 9,000,000 8,983,052.91

LOBLAW COMPANIES LTD 6.5% 22 Jan 2029 14,000,000 13,635,696.21

LOBLAW COS LIMITED 6.65% 08 Nov 2027 25,000,000 24,676,872.94

LOBLAWS COS LTD CPN RCPTS CDS 0% 23 May 2031 40,000,000 8,292,293.84

LORAL CORP 7% 15 Sep 2023 26,300,000 30,122,491.97

LOWES COMPANIES INC 5.5% 15 Oct 2035 18,000,000 18,149,636.52

LUBRIZOL CORP 4.625% 01 Oct 2009 13,250,000 12,999,715.45

LUBRIZOL CORP 5.5% 01 Oct 2014 10,500,000 10,542,999.92M + I CAPITAL TR A 7.65% 01 Dec 2026 12,200,000 12,837,837.96

M + I MARSHALL + ILSLEY BK 4.4% 15 Mar 2010 10,300,000 10,086,056.85

MARRIOTT INTL INC NEW 4.625% 15 Jun 2012 14,000,000 13,508,813.36

MARSH + MCLENNAN COS INC 5 75% 15 Sep 2015 34 000 000 34 224 847 44


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PACIFIC GAS + ELEC CO 6.05% 01 Mar 2034 38,950,000 40,165,654.04

PANAMERICAN BEVERAGES INC 7.25% 01 Jul 2009 3,000,000 3,208,200.30

PC FINL PARTNERSHIP 5% 15 Nov 2014 11,500,000 11,274,136.90

PEMEX PROJ FDG MASTER TR 8.625% 01 Feb 2022 16,100,000 19,899,598.55PEMEX PROJ FDG MASTER TR 5.75% 15 Dec 2015 29,550,000 29,308,280.70

PEMEX PROJ FDG MASTER TR 6.625% 15 Jun 2035 25,975,000 26,015,520.48

PEMEX PROJECT FUNDING MASTER T 9.375% 02 Dec 2008 5,495,000 6,085,712.50

PENNEY J C INC 7.125% 15 Nov 2023 12,350,000 13,748,835.10

PENNEY J C INC 7.4% 01 Apr 2037 2,750,000 3,072,338.50

PETRO CDA 5.95% 15 May 2035 25,300,000 25,570,663.70

PETROBRAS INTL FIN CO 7.75% 15 Sep 2014 19,050,000 20,574,000.00

PFIZER INC 4.65% 01 Mar 2018 6,250,000 6,002,855.75

PRINCIPAL LIFE INCOME FUNDINGS 5.1% 15 Apr 2014 9,400,000 9,387,182.16

PROLOGIS 5.25% 15 Nov 2010 14,850,000 14,816,066.56

PSI ENERGY INC 5% 15 Sep 2013 14,000,000 13,832,412.72

PSI ENERGY INC 6.12% 15 Oct 2035 5,000,000 5,108,634.95

QUEST DIAGNOSTICS INC 5.45% 01 Nov 2015 7,000,000 7,031,567.62

QUEST DIAGNOSTICS INC 5.125% 01 Nov 2010 9,500,000 9,512,809.23

RBS CAP TR III 5.512% 29 Sep 2049 31,900,000 31,771,941.92

RESIDENTIAL ACCREDIT LNS INC 5% 25 May 2019 30,954,684 30,375,453.95

RESIDENTIAL ACCREDIT LNS INC 6% 25 Aug 2035 23,379,365 23,520,403.65

RESIDENTIAL ASSET MTG PRODS 6% 25 Jul 2032 5,029,368 5,043,515.26

RESIDENTIAL CAP CORP 1200.375% 30 Jun 2010 14,900,000 15,145,802.47

RESIDENTIAL FDG MTG SECS I INC 5% 25 May 2018 8,038,201 7,888,185.76

RESIDENTIAL FDG MTG SECS I INC 5.5% 25 Dec 2034 13,721,768 13,562,363.53

ROYAL BK SCOTLAND GROUP PLC 6.4% 01 Apr 2009 6,250,000 6,512,409.19

ROYAL CARIBBEAN CRUISES LTD 7.5% 15 Oct 2027 15,881,000 17,012,521.25ROYAL CARIBBEAN CRUISES LTD 6.875% 01 Dec 2013 11,025,000 11,677,018.50

SEARIVER MARITIME FINL HLDGS 0.01% 01 Sep 2012 43,815,000 31,751,774.89

SIMON PPTY GROUP L P 4.875% 15 Aug 2010 21,240,000 20,931,459.90

SIMON PPTY GROUP L P 5.625% 15 Aug 2014 16,500,000 16,696,292.42

SOUTHERN PWR CO 4.875% 15 Jul 2015 26,260,000 25,357,406.77

SPRINT CAP CORP 6.875% 15 Nov 2028 41,000,000 44,873,441.38

SPRINT CAP CORP 6.9% 01 May 2019 21,650,000 23,818,343.19

STATE STR INSTL CAP B 8.035% 15 Mar 2027 9,000,000 9,605,673.90

STRUCTURED ASSET SECS CORP 5.5% 25 Jul 2033 29,062,794 28,502,125.96

STRUCTURED ASSET SECS CORP 5.5% 25 Oct 2033 31,526,509 30,842,793.95

STRUCTURED ASSET SECS CORP 6% 25 Aug 2035 37,679,093 37,761,535.06

SUNCOR ENERGY INC 5.95% 01 Dec 2034 20,000,000 21,468,963.60SYSCO CORP 4 2 5.375% 21 Sep 2035 14,000,000 13,819,619.94

TELECOM ITALIA CAP 4.95% 30 Sep 2014 20,000,000 19,123,223.80

TELEFONOS DE MEXICO S A 4.5% 19 Nov 2008 12,173,000 11,940,373.60

TELOFONOS DE MEXICO SA 5 5% 27 Jan 2015 36 000 000 35 514 000 00


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UNITED STATES TREAS NTS 2% 15 Jan 2014 169,668,576 168,833,806.62

UNITED STATES TREAS NTS 0% 15 Jul 2014 154,451,904 153,727,524.30

UNITED STATES TREAS NTS 0.875% 15 Apr 2010 223,141,815 212,192,246.31

UNITED STATES TREAS NTS 1.625% 15 Jan 2015 152,468,266 147,000,753.59UNITED STATES TREAS NTS 1.875% 15 Jul 2015 133,909,898 131,775,374.47

UNITED STATES TRES BD STRP PRN 0% 15 Nov 2018 1,000,000,000 556,996,570.00

UNITED STATES TRES BD STRP PRN 0% 15 May 2018 270,000,000 154,033,423.20

UNITED STATES TRES BD STRP PRN 0% 15 Feb 2019 630,000,000 346,463,472.60

UNITED STATES TRES BD STRP PRN 0% 15 Nov 2016 350,000,000 215,560,313.50

UNITED STATES TRES SC STRP INT 0% 15 Feb 2018 112,000,000 64,465,060.80



UNITED STATES TRES SC STRP INT 0% 15 May 2017 160,000,000 95,515,929.60

UNITED STATES TRES SC STRP INT 0% 15 May 2018 450,000,000 256,102,258.50

UNITED STATES TRES SC STRP INT 0% 15 Aug 2017 198,500,000 117,151,664.94

UNITED STATES TRES SC STRP INT 0% 15 Nov 2024 300,000,000 125,107,497.00

UNITED TECHNOLOGIES CORP 4.875% 01 May 2015 7,000,000 6,914,771.85

UNITED TECHNOLOGIES CORP 5.4% 01 May 2035 5,000,000 4,983,138.30

US BK NATL ASSN MINNEAPOLIS MN 4.8% 15 Apr 2015 7,500,000 7,307,985.30

VALE OVERSEAS LTD 8.25% 17 Jan 2034 22,450,000 25,845,562.50

VALERO ENERGY CORP NEW 7.5% 15 Apr 2032 14,000,000 16,966,024.60

VESSEL MGMT SVCS INC 6.08% 20 May 2024 12,854,500 13,882,602.91

VIRGINIA ELEC + PWR CO 4.75% 01 Mar 2013 12,700,000 12,368,817.66

WACHOVIA CAP TR V 7.965% 01 Jun 2027 21,000,000 22,487,721.90

WACHOVIA CORP 4.375% 01 Jun 2010 4,775,000 4,668,669.97

WACHOVIA CORP NEW 5.5% 01 Aug 2035 9,000,000 8,752,950.45

WAL MART STORES INC 5.25% 01 Sep 2035 25,500,000 24,706,323.47WAMU MTG PASS THROUGH CTFS 5% 25 Nov 2018 12,830,329 12,590,607.39

WAMU MTG PASS THROUGH CTFS 5.5% 25 Aug 2035 29,773,361 29,502,426.78

WELLS FARGO + CO NEW 4.95% 16 Oct 2013 12,500,000 12,412,043.63

WELLS FARGO + CO NEW 5.125% 15 Sep 2016 17,500,000 17,350,519.90

WELLS FARGO MTG BACKED SECS 5% 25 Jun 2018 7,243,090 7,114,075.98

WELLS FARGO MTG BACKED SECS 4.5% 25 Jul 2019 8,297,671 8,005,391.02

WELLS FARGO MTG BACKED SECS 5% 25 Jan 2020 23,943,031 23,492,190.46

WELLS FARGO MTG BACKED SECS 5.143476% 25 May 2035 42,346,496 41,647,613.30

WELLS FARGO MTG BACKED SECS TR 5.395% 25 Aug 2035 75,890,543 75,192,410.49

WESTAR ENERGY INC 5.15% 01 Jan 2017 14,850,000 14,442,159.60

WESTAR ENERGY INC 5.95% 01 Jan 2035 5,000,000 4,968,928.50

WESTAR ENERGY INC 5.1% 15 Jul 2020 3,000,000 2,855,138.85WORLD SVGS BK FSB OAKLAND CALI 4.125% 15 Dec 2009 8,615,000 8,361,885.10

WRIGLEY WM JR CO 4.65% 15 Jul 2015 19,150,000 18,746,565.99

WYETH 5.5% 01 Feb 2014 24,750,000 25,072,075.46

WYETH 6 45% 01 Feb 2024 5 000 000 5 394 385 90


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CLAREMONT CREEK VENTURES LP 136,000.00

CLEARSTONE VENTURE PARTNERS 2,488,298.40

DARWIN VENTURE CAPITAL FUNDS 355,169.18

DCM IV 1,799,262.03DE NOVO VENTURES II LP 5,544,243.49

DOMAIN PARTNERS VI LP 4,246,467.12

EOS CAPITAL PARTNERS III 4,795,422.30

EQUITY DISTRIBUTION SECURITIES 3,203,203.78

FORTRESS INVESTMENT FUND III 2,534,413.94

FREMONT PARTNERS III 4,307,394.47

GENSTAR CAPITAL PARTNERS IV 4,000,752.70

GLENCOE CAP INSTL PARTNERS III 1,329,112.03

GLENCOE CAPITAL PARTNERS III 5,094,207.16

GLOBESPAN CAPITAL PARTNERS IV 5,221,018.31

GOLDER THOMA CRESSEY RAUNER 131,289.04

GOLDER THOMA CRESSEY RAUNER V 9,054,135.43

GRAHAM PARTNERS II 3,450,113.97

GRANITE GLOBAL VENTURES II LP 8,225,102.40

HUMMER WINVLAD VENTURE PTR III 708,846.12

INSIGHT VENTURE PARTNERS V 2,471,017.27

INSIGHT VENURE PARTNERS V 378,344.90

INSTITUTE VENTURES PTNS VI 811,259.40

INSTITUTIONAL VENTURE PARTNS 1,880,156.16

INSTITUTIONAL VENTURE PTR VIII 4,679,144.78

INTERSOUTH PARTNERS V LP 9,938,291.40

INTERSOUTH PARTNERS VI 3,174,967.69

INTERWEST PARTNERS IV 4,964.80INTERWEST PARTNERS IX 2,800,000.00

INTERWEST PARTNERS V LP 926,372.40

INTERWEST PARTNERS VI LP 1,117,282.16

INTERWEST PARTNERS VII LP 5,463,782.28

INTERWEST PARTNERS VIII 23,646,600.00

INVERNESS PARTNERS II LP 4,591,062.25

IVP VII 5,267,204.67

JLL PARTNERS FUND V, LP 2,169,447.97

KELSO INVESTMENT ASSOC VII 10,166,570.95

KODIAK VENTURES III 2,609,088.21

KPCB AGG INVESTMENT UCRP 25,294,740.90

KRG CAPITAL III LP 1,629,960.58LAKE CAPITAL PARTNERS LP 7,533,971.24

LATIN AMERICAN CAPITAL II LP 16,378,119.69

LIGHTHOUSE CAPITAL PARTNERS V 9,908,070.16

LINDSAY GOLDBERG + BESSEMER LP 10 080 874 09


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WARBURG PINCUS PRT EQT VIII 3,920,000.00

WCAS CAPITAL PARTNERS II 3,141,411.00

WCAS III 69,433,560.00

WCAS VI 3,836,685.80WELSH CARSON ANDERSON + STOWE 18,121,598.87

WICKS COMM + MEDIA PRTNS III 1,338,764.37

REAL ESTATE

AMB INSTITUTIONAL ALLIANCE 29,998,868.55

PRISA II PRUDENTIAL REAL EST. 76,882,910.22

REALTY ASSOCIATES FUND VII 10,000,000.00

TOTAL ALTERNATIVE ASSETS 839,042,738.83

TOTAL SECURITIES 42,885,804,819.73

CASH & CASH EQUIVALENTS 235,574,070.05

ACCOUNTS RECEIVABLE & ACCRUED INCOME 138,275,324.98

ACCOUNTS PAYABLE (792,431.10)

TOTAL NET ASSETS 43,258,861,783.66


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UCRP

Holdings as of December 31, 2006

EQUITY INVESTMENTS

EXTERNALLY MANAGED FUNDS

(SC = Small Cap LC = Large Cap)

Security Name Interest Rat Maturity Date Shares/Par Value Base Market Value

ADAGE CAPITAL LC 291,423,317.24

ALLIANCE CAPITAL EMERGING MARKETS 175,994,281.05

AMERICAN CENTURY SC 123,289,540.88

AMEX/KENWOOD SC 166,637,951.33

AQR NON-US 404,865,254.42

ARK ASSET MANAGEMENT CO INC LC 645,402,583.03

AXA ROSENBERG SC 136,153,002.81

BRANDYWINE NON- US 405,436,376.59

BURGUNDY SC 123,328,016.92

CAPITAL GUARDIAN TRUST COMPANY LC 540,727,529.20CAUSEWAY NON-US 335,001,320.23

CGI EMERGING MARKETS GF 207,471,354.40

CORTINA ASSET MGT SC 106,653,528.25

DELAWARE GROWTH LC 619,182,910.11

DELAWARE INV ADV SC 88,252,772.51

DFA INVT DIMENSIONS GRP EMERGING MRKT 226,014,914.58

EAFE + CANADA TF INTL INDEX FD 5,746,415,322.04

FRANKLIN PORTFOLIO ASSOCIATES LC 841,018,277.71

FREEMAN ASSOCIATES INVESTMENT LC 587,302,760.52

GENESIS EMERGING MKT FD 346,311,510.20GMO NON US 589,844,266.81

GMO TR EMERGING MARKETS 114,332,712.56

GOLDMAN SACHS ASSET MGMT L P LC 489,997,668.96


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VICTORY CAPITAL MGT INC LC 698,647,394.38

WELLINGTON MANAGEMENT CO LLP LC 504,381,455.13

WELLINGTON SC 127,944,993.68

TOTAL EQUITY 33,161,337,848.45

FIXED INCOME

FIXED INCOME - SECURITIES

ALBERTSONS INC 7.25 5/1/2013 4,700,000 4,780,558.00ALLSTATE CORP 5.55 5/9/2035 9,000,000 8,676,484.20

AMEREN UN ELEC 5.1 10/1/2019 8,931,000 8,255,274.91

AMEREN UN ELEC 5.3 8/1/2037 9,000,000 8,018,958.69

AMEREN UN ELEC 5.3 8/1/2037 10,000,000 8,909,954.10

AMERENENERGY GENERATING CO 7.95 6/1/2032 7,000,000 8,293,604.48

AMERICA MOVIL S A DE C V 5.5 3/1/2014 10,000,000 9,775,220.00




AMERICA MOVIL S A DE C V 6.375 3/1/2035 19,500,000 19,025,038.50AMERICAN ELEC PWR INC 5.25 6/1/2015 14,000,000 13,578,875.24

AMERICAN GEN CORP 8.5 7/1/2030 5,700,000 7,431,182.80

AMERICAN GEN FIN CORP MTN 4 3/15/2011 13,500,000 12,829,688.42

AMERICAN INTL GROUP INC 5.05 10/1/2015 17,500,000 17,070,831.23

AMERICAN INTL GROUP INC 5.05 10/1/2015 5,500,000 5,365,118.39

ANADARKO PETE CORP 5.95 9/15/2016 9,000,000 9,016,061.31

ANADARKO PETE CORP 6.45 9/15/2036 11,000,000 11,130,888.56

AT+T WIRELESS 8.125 5/1/2012 10,000,000 11,245,018.00

AT+T WIRELESS SVCS INC 8.75 3/1/2031 8,000,000 10,367,495.12

BAC CAP TR VI 5.625 3/8/2035 1,600,000 1,516,761.60

BAC CAP TR XI 6.625 5/23/2036 14,500,000 15,659,961.29

BAE SYS HLDGS INC 4.75 8/15/2010 10,000,000 9,731,140.00

BAE SYS HLDGS INC 5 2 8/15/2015 12 000 000 11 430 480 00


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BRAZIL FEDERATIVE REP 8.25 1/20/2034 12,500,000 15,156,250.00

BRAZIL FEDERATIVE REP 7.125 1/20/2037 15,000,000 16,117,500.00

BRAZIL FERERATIVE REP 11 8/17/2040 5,000,000 6,625,000.00BURLINGTON RES INC 9.875 6/15/2010 15,500,000 17,714,419.90

C10 CAP SPV LTD 6.722 12/1/2049 8,450,000 8,487,180.00

CANADIAN NATL RY CO 6.8 7/15/2018 9,210,000 10,256,577.43

CANADIAN NATL RY CO 6.9 7/15/2028 19,275,000 21,915,859.65

CASE NEW HOLLAND INC 7.125 3/1/2014 15,000,000 15,225,000.00

CCSA FIN LTD 7.875 5/17/2016 6,250,000 6,703,125.00

CCSA FIN LTD 7.875 5/17/2016 13,350,000 14,317,875.00

CELULOSA ARAUCO Y CONSTITUCION 7.75 9/13/2011 2,932,000 3,163,305.48

CELULOSA ARAUCO Y CONSTITUCION 5.625 4/20/2015 4,000,000 3,929,760.12

CENTEX CORP 5.25 6/15/2015 12,550,000 11,889,287.55CHESAPEAKE ENERGY CORP 6.375 6/15/2015 19,000,000 18,810,000.00

CHESAPEAKE ENERGY CORP 6.375 6/15/2015 4,750,000 4,702,500.00

CHRYSLER CORP 7.45 3/1/2027 29,215,000 31,246,736.72

CISCO SYS INC 5.5 2/22/2016 17,000,000 17,054,156.05

CITIGROUP INC 5.85 8/2/2016 10,000,000 10,329,562.40

CITIGROUP INC 6 10/31/2033 25,200,000 25,846,082.64

CITIGROUP INC 6 10/31/2033 5,000,000 5,128,191.00

COLOMBIA REP 8.25 12/22/2014 12,000,000 13,620,000.00

COLOMBIA REP 8.125 5/21/2024 12,000,000 13,860,000.00

COLUMBIA REP 9.75 4/23/2009 12,500,000 13,625,000.00

COLUMBIA REP 7.375 9/18/2037 4,500,000 4,830,750.00

COMCAST CABLE COMMUNICATIONS 8.875 5/1/2017 10,000,000 12,099,099.00

COMCAST CORP NEW 5.45 11/15/2010 3,000,000 3,011,010.36

COMCAST CORP NEW 5.9 3/15/2016 5,000,000 5,012,069.30

COMCAST CORP NEW 5.875 2/15/2018 10,300,000 10,168,802.93

COMCAST CORP NEW 6.5 11/15/2035 14,000,000 14,072,370.20

COMPANHIA BRASILEIRA BEBIDAS 8.75 9/15/2013 2,000,000 2,330,000.00

COMPANHIA BRASILEIRA BEBIDAS 8.75 9/15/2013 15,500,000 18,057,500.00

COMPANHIA BRASILEIRA DE BEBIDA 10.5 12/15/2011 14,974,000 18,118,540.00CONSOLIDATED NAT GAS CO 5 3/1/2014 4,300,000 4,138,081.78

CONSTELLATION BRANDS INC 7.25 9/1/2016 7,500,000 7,706,250.00

CORPORACION NACIONAL DEL COBRE 6.375 11/30/2012 10,800,000 11,273,450.40


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DIAMOND OFFSHORE DRILLING INC 4.875 7/1/2015 6,750,000 6,355,416.06

DIRECTV HLDGS LLC 6.375 6/15/2015 2,700,000 2,588,625.00

DOMINION RES INC VA NEW 6.3 9/30/2066 5,000,000 5,023,373.80DPL INC 6.875 9/1/2011 16,800,000 17,630,882.98

EMBARQ CORP 7.082 6/1/2016 11,000,000 11,201,364.79

EMPRESA NACIONAL DE 8.5 4/1/2009 13,330,000 14,193,784.40

EMPRESA NACIONAL DE ELECTRIC 8.35 8/1/2013 6,492,000 7,308,823.50

ENCANA CORP 4.75 10/15

Documents

Update: UC Retirment Plan - Private Equity - 2009 included!