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Life Series Funds - First Investors

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Portfolio of Investments (continued)<br />

FUND FOR INCOME<br />

June 30, 2013<br />

Principal<br />

Amount Security Value<br />

Food/Drug—1.2%<br />

$ 499 M Albertson’s, LLC, 4.75%, 2/20/2016 (e) $ 496,568<br />

180 M Rite Aid Corp., 4.875%, 6/7/2021 (d)(e) 180,113<br />

340 M Supervalu, Inc., 5% 3/31/2019 (e) 338,787<br />

1,015,468<br />

Forest Products/Containers—.3%<br />

221 M Sealed Air Corp., 4%, 10/31/2019 (e) 222,720<br />

Gaming/Leisure—.3%<br />

225 M Seminole Hard Rock Entertainment, Inc., 3.5%, 4/28/2020 (e) 223,875<br />

Health Care—.4%<br />

400 M Valeant Pharmaceuticals International, Inc., 4.5%, 6/26/2020 (d)(e) 399,150<br />

Information Technology—.4%<br />

354 M ARRIS Group, Inc., 3.5%, 2/7/2020 (e) 350,571<br />

Manufacturing—.4%<br />

384 M Apex Tool Group, LLC, 4.5%, 10/18/2019 (e) 386,301<br />

Media-Diversified—.6%<br />

398 M Getty Images, Inc., 4.75% 10/18/2019 (e) 396,046<br />

150 M Kasima, LLC, 3.25%, 5/14/2021 (e) 149,531<br />

545,577<br />

Metals/Mining—.4%<br />

371 M Arch Coal, Inc., 5.75%, 5/16/2018 (e) 371,914<br />

Retail-General Merchandise—.9%<br />

149 M Burger King Corp., 3.75% 9/27/2019 (e) 149,712<br />

299 M General Nutrition Centers, Inc., 3.75%, 3/2/2018 (e) 299,704<br />

320 M J.C. Penney Corp., Inc., 6%, 5/28/2018 (e) 320,933<br />

770,349<br />

Total Value of Loan Participations (cost $6,036,338) 6,055,923<br />

28

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