Top 25 Fund Holdings as of January 31, 2010

Company Name Symbol Percentage of Holdings
Apple Computer AAPL 6.61
Google GOOG 6.08
Earthlink ELNK 5.70
Openwave Systems OPWV 4.48
E-House China Holdings EJ 4.42
Geeknet LNUX 4.33
Shutterfly SFLY 4.20
IAC Interactive IACI 4.15
Take-Two Interactive Software TTWO 3.78
Netflix NFLX 3.57
Digital River DRIV 3.33
Yahoo YHOO 3.27
E-Trade ETFC 3.22
Tencent 700 3.19
Cypress Semiconductor CY 3.17
Perfect World Co. PWRD 3.00
Red Hat RHT 2.97
Hollywood Media HOLL 2.83
Sandisk SNDK 2.81
The Street.com TSCM 2.74
Global Sources Ltd. GSOL 2.67
Salesforce.com CRM 2.19
CTRIP.com CTRP 2.15
Expedia EXPE 2.09
Baidu.com BIDU 1.89

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Fund Holdings are subject to change and are not a recommendation to buy or sell any security.