Allianz Funds

Form N-Q is to be used by management investment companies, other than small business investment companies registered on Form N-5 (§§ 239.24 and 274.5 of this chapter), to file reports with the Commission, not later than 60 days after the close of the first and third fiscal quarters, pursuant to rule 30b1-5 under the Investment Company Act of 1940 (17 CFR 270.30b1-5). The Commission may use the information provided on Form N-Q in its regulatory, disclosure review, inspection, and policymaking roles.

A registrant is required to disclose the information specified by Form N-Q, and the Commission will make this information public. A registrant is not required to the collection of information contained in Form N-Q unless the Form displays a currently valid Office of Management and Budget (“OMB”) control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to the Secretary, Securities and Exchange Commission, 100 F Street, NE, Washington, DC 20549-2001. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.


	Shares	Value* (000s)
COMMON STOCK—98.8%
Aerospace & Defense—2.3%
Goodrich Corp.	140,410	$	9,902
Northrop Grumman Corp.	176,080		11,545

			21,447

Air Freight & Logistics—1.2%
United Parcel Service, Inc., Class B	177,730		11,448

Airlines—1.3%
Southwest Airlines Co.	889,580		11,760

Auto Components—1.1%
Johnson Controls, Inc.	320,086		10,560

Biotechnology—3.2%
Amgen, Inc. (a)	181,890		10,870
Biogen Idec, Inc. (a)	164,730		9,449
Gilead Sciences, Inc. (a)	206,520		9,392

			29,711

Building Products—1.2%
Owens Corning (a)	419,570		10,674

Capital Markets—3.3%
BlackRock, Inc.	43,840		9,547
Goldman Sachs Group, Inc.	58,560		9,992
Lazard Ltd., Class A	303,950		10,851

			30,390

Chemicals—2.4%
CF Industries Holdings, Inc.	117,580		10,721
EI Du Pont de Nemours & Co.	311,740		11,609

			22,330

Commercial Banks—1.3%
Wells Fargo & Co.	372,700		11,598

Communications Equipment—2.4%
Cisco Systems, Inc. (a)	846,710		22,040

Computers & Peripherals—8.7%
Apple, Inc. (a)	117,290		27,555
EMC Corp. (a)	607,140		10,953
Hewlett-Packard Co.	285,350		15,166
International Business Machines Corp.	133,760		17,155
NetApp, Inc. (a)	281,640		9,170

			79,999

Consumer Finance—1.2%
American Express Co.	271,700		11,210

Containers & Packaging—1.1%
Crown Holdings, Inc. (a)	369,920		9,973


	Shares	Value* (000s)
Electrical Equipment—2.5%
Cooper Industries PLC	258,480	$	12,392
Emerson Electric Co.	218,680		11,008

			23,400

Electronic Equipment, Instruments & Components—1.3%
Agilent Technologies, Inc. (a)	342,810		11,789

Energy Equipment & Services—1.3%
Cameron International Corp. (a)	289,290		12,399

Food & Staples Retailing—4.5%
Costco Wholesale Corp.	180,170		10,758
Walgreen Co.	314,160		11,652
Wal-Mart Stores, Inc.	348,330		19,367

			41,777

Food Products—3.8%
Archer-Daniels-Midland Co.	414,760		11,987
General Mills, Inc.	162,190		11,481
HJ Heinz Co.	245,460		11,195

			34,663

Health Care Equipment & Supplies—2.2%
Hospira, Inc. (a)	168,620		9,552
Medtronic, Inc.	247,710		11,154

			20,706

Health Care Providers & Services—3.6%
AmerisourceBergen Corp.	410,200		11,863
McKesson Corp.	183,830		12,081
Medco Health Solutions, Inc. (a)	148,970		9,618

			33,562

Hotels, Restaurants & Leisure—2.6%
McDonald’s Corp.	183,550		12,246
Starbucks Corp. (a)	497,270		12,069

			24,315

Household Durables—2.3%
Leggett & Platt, Inc.	574,720		12,437
NVR, Inc. (a)	11,590		8,420

			20,857

Household Products—2.3%
Kimberly-Clark Corp.	158,540		9,969
Procter & Gamble Co.	174,320		11,029

			20,998

Industrial Conglomerates—1.2%
3M Co.	132,380		11,063

Insurance—2.7%
Lincoln National Corp.	394,010		12,096
Prudential Financial, Inc.	218,200		13,201

			25,297

Internet & Catalog Retail—1.3%
Amazon.com, Inc. (a)	88,460		12,007


	Shares	Value* (000s)
Internet Software & Services—3.2%
eBay, Inc. (a)	479,930	$	12,934
Google, Inc., Class A (a)	29,630		16,801

			29,735

Life Sciences Tools & Services—1.2%
Thermo Fisher Scientific, Inc. (a)	212,480		10,930

Machinery—1.8%
Dover Corp.	252,070		11,784
Joy Global, Inc.	89,612		5,072

			16,856

Media—3.7%
Comcast Corp., Class A	636,200		11,973
DIRECTV, Class A (a)	331,850		11,220
Omnicom Group, Inc.	274,130		10,639

			33,832

Metals & Mining—0.5%
Cliffs Natural Resources, Inc.	64,780		4,596

Multiline Retail—1.1%
Nordstrom, Inc.	254,530		10,398

Oil, Gas & Consumable Fuels—1.7%
Occidental Petroleum Corp.	126,300		10,678
Peabody Energy Corp.	118,760		5,427

			16,105

Pharmaceuticals—3.4%
Abbott Laboratories	192,050		10,117
Johnson & Johnson	162,480		10,594
Merck & Co., Inc.	281,095		10,499

			31,210

Road & Rail—1.3%
Norfolk Southern Corp.	214,150		11,969

Semiconductors & Semiconductor Equipment—2.4%
Broadcom Corp., Class A	351,880		11,675
Texas Instruments, Inc.	428,060		10,475

			22,150

Software—8.0%
BMC Software, Inc. (a)	242,150		9,202
CA, Inc.	377,860		8,868
McAfee, Inc. (a)	271,810		10,908
Microsoft Corp.	1,014,070		29,682
Oracle Corp.	606,810		15,589

			74,249

Specialty Retail—2.5%
Bed Bath & Beyond, Inc. (a)	266,610		11,667
Home Depot, Inc.	351,420		11,368

			23,035


	Shares	Value* (000s)
Textiles, Apparel & Luxury Goods—2.0%
Coach, Inc.	245,380	$	9,697
Polo Ralph Lauren Corp.	102,710		8,735

			18,432

Tobacco—1.3%
Philip Morris International, Inc.	237,210		12,373

Trading Companies & Distributors—1.3%
W.W. Grainger, Inc.	111,700		12,077

Wireless Telecommunication Services—1.1%
American Tower Corp., Class A (a)	239,560		10,208

Total Common Stock (cost—$753,425)			914,128


	Principal Amount (000s)
Repurchase Agreement—1.1%
State Street Bank & Trust Co., dated 3/31/10, 0.01%, due 4/1/10, proceeds $10,085; collateralized by Federal Home Loan Bank, 0.70%, due 4/18/11, valued at $4,256 including accrued interest and Federal Home Loan Bank Discount Notes, zero coupon, due 4/23/10, valued at $6,035 (cost—$10,085)	$	10,085		10,085

Total Investments (cost—$763,510) —99.9%				924,213

Other assets less liabilities—0.1%				747

Net Assets—100.0%			$	924,960

Notes to Schedule of Investments:

(a)	Non-income producing.


	Shares	Value* (000s)
COMMON STOCK—97.7%
Aerospace & Defense—0.3%
Astronics Corp. (a)	25,015	$	244

Airlines—0.7%
Hawaiian Holdings, Inc. (a)	69,700		514

Auto Components—2.3%
Dorman Products, Inc. (a)	55,630		1,056
Drew Industries, Inc. (a)	35,180		775

			1,831

Beverages—0.8%
National Beverage Corp.	59,850		665

Biotechnology—4.6%
Emergent Biosolutions, Inc. (a)	46,840		787
Immunomedics, Inc. (a)	176,350		586
Micromet, Inc. (a)	71,290		576
Momenta Pharmaceuticals, Inc. (a)	22,910		343
NeurogesX, Inc. (a)	47,590		447
Orexigen Therapeutics, Inc. (a)	82,240		484
Sangamo Biosciences, Inc. (a)	71,230		386

			3,609

Capital Markets—3.3%
Calamos Asset Management, Inc.	59,800		857
Evercore Partners, Inc., Class A	27,330		820
Pzena Investment Management, Inc., Class A (a)	115,720		883

			2,560

Commercial Banks—0.7%
Nara Bancorp, Inc. (a)	66,740		585

Commercial Services & Supplies—0.9%
North American Galvanizing & Coating, Inc. (a)	133,380		742

Communications Equipment—3.8%
Acme Packet, Inc. (a)	43,960		847
Cogo Group, Inc. (a)	123,290		862
Oplink Communications, Inc. (a)	68,450		1,269

			2,978

Computers & Peripherals—2.5%
Hypercom Corp. (a)	204,430		789
Super Micro Computer, Inc. (a)	66,110		1,142

			1,931

Construction & Engineering—1.1%
Orion Marine Group, Inc. (a)	47,120		851

Consumer Finance—1.1%
Cardtronics, Inc. (a)	71,150		894


	Shares	Value* (000s)
Containers & Packaging—2.2%
Boise, Inc. (a)	152,300	$	934
Bway Holding Co. (a)	37,420		752

			1,686

Distributors—1.1%
Core-Mark Holding Co., Inc. (a)	27,180		832

Diversified Financial Services—1.2%
Marlin Business Services Corp. (a)	89,510		909

Electronic Equipment, Instruments & Components—3.3%
CPI International, Inc. (a)	59,080		783
Park Electrochemical Corp.	26,870		772
Power-One, Inc. (a)	232,660		982

			2,537

Energy Equipment & Services—2.2%
Bolt Technology Corp. (a)	68,910		779
Geokinetics, Inc. (a)	74,680		539
Willbros Group, Inc. (a)	36,300		436

			1,754

Food & Staples Retailing—0.9%
Pricesmart, Inc.	28,930		673

Food Products—3.8%
B&G Foods, Inc., Class A	65,300		684
Calavo Growers, Inc.	30,010		548
Diamond Foods, Inc.	18,200		765
J&J Snack Foods Corp.	22,240		967

			2,964

Health Care Equipment & Supplies—6.5%
AngioDynamics, Inc. (a)	44,380		693
CryoLife, Inc. (a)	104,880		679
ICU Medical, Inc. (a)	19,660		677
Micrus Endovascular Corp. (a)	32,560		642
SenoRx, Inc. (a)	25,930		188
SonoSite, Inc. (a)	20,680		664
Vascular Solutions, Inc. (a)	79,050		711
Young Innovations, Inc.	28,180		794

			5,048

Health Care Providers & Services—5.3%
America Service Group, Inc.	54,730		881
American Dental Partners, Inc. (a)	66,770		871
BioScrip, Inc. (a)	91,420		730
Integramed America, Inc. (a)	94,120		829
U.S. Physical Therapy, Inc. (a)	45,720		795

			4,106

Health Care Technology—0.9%
HealthStream, Inc. (a)	168,220		688


	Shares	Value* (000s)
Hotels, Restaurants & Leisure—3.7%
AFC Enterprises, Inc. (a)	88,480	$	949
Interval Leisure Group, Inc. (a)	50,470		735
Shuffle Master, Inc. (a)	97,010		795
Youbet.com, Inc. (a)	127,950		376

			2,855

Insurance—2.4%
American Physicians Capital, Inc.	29,406		940
FBL Financial Group, Inc., Class A	39,070		956

			1,896

Internet & Catalog Retail—2.0%
PetMed Express, Inc.	29,510		654
U.S. Auto Parts Network, Inc. (a)	121,710		915

			1,569

Internet Software & Services—4.6%
Art Technology Group, Inc. (a)	184,530		814
Internet Brands, Inc., Class A (a)	83,540		770
LivePerson, Inc. (a)	135,870		1,042
Perficient, Inc. (a)	84,440		952

			3,578

IT Services—1.1%
Lionbridge Technologies, Inc. (a)	109,540		398
TNS, Inc. (a)	21,000		468

			866

Leisure Equipment & Products—1.2%
Leapfrog Enterprises, Inc. (a)	139,600		914

Life Sciences Tools & Services—0.9%
Accelrys, Inc. (a)	118,140		728

Machinery—4.8%
3D Systems Corp. (a)	54,530		744
Altra Holdings, Inc. (a)	60,330		828
Ampco-Pittsburgh Corp.	26,790		665
Graham Corp.	45,940		827
Tennant Co.	26,060		714

			3,778

Media—2.8%
CKX, Inc. (a)	91,150		559
Dolan Media Co. (a)	53,760		584
LodgeNet Interactive Corp. (a)	149,510		1,042

			2,185

Oil, Gas & Consumable Fuels—2.0%
Gulfport Energy Corp. (a)	86,980		978
Vaalco Energy, Inc. (a)	114,150		564

			1,542

Personal Products—1.2%
Schiff Nutrition International, Inc.	115,260		943


	Shares	Value* (000s)
Pharmaceuticals—1.2%
Cypress Bioscience, Inc. (a)	101,330	$	496
Vivus, Inc. (a)	50,790		443

			939

Professional Services—1.0%
On Assignment, Inc. (a)	105,660		753

Real Estate Investment Trust—1.3%
Associated Estates Realty Corp.	73,060		1,007

Road & Rail—1.4%
Quality Distribution, Inc. (a)	175,998		1,061

Semiconductors & Semiconductor Equipment—2.2%
Integrated Silicon Solution, Inc. (a)	101,180		1,068
Semtech Corp. (a)	36,560		637

			1,705

Software—9.3%
American Software, Inc., Class A	152,470		886
Bottomline Technologies, Inc. (a)	43,590		734
Deltek, Inc. (a)	106,820		816
Interactive Intelligence, Inc. (a)	30,320		567
Netscout Systems, Inc. (a)	62,490		924
OPNET Technologies, Inc.	49,140		792
Radiant Systems, Inc. (a)	59,810		853
Renaissance Learning, Inc.	57,170		928
SonicWALL, Inc. (a)	88,830		772

			7,272

Specialty Retail—2.4%
Select Comfort Corp. (a)	96,960		787
Zumiez, Inc. (a)	52,490		1,075

			1,862

Textiles, Apparel & Luxury Goods—1.0%
Maidenform Brands, Inc. (a)	35,680		780

Trading Companies & Distributors—0.9%
DXP Enterprises, Inc. (a)	55,090		703

Water Utilities—0.8%
Consolidated Water Co., Ltd.	45,270		615

Total Common Stock (cost—$65,517)			76,152


	Principal Amount (000s)		Value* (000s)
Repurchase Agreement—3.7%
State Street Bank & Trust Co., dated 3/31/10, 0.01%, due 4/1/10, proceeds $2,914; collateralized by Federal Home Loan Bank Discount Notes, zero coupon, due 4/9/10, valued at $2,975 (cost—$2,914)	$	2,914	$	2,914

Total Investments (cost—$68,431)—101.4%				79,066

Liabilities in excess of other assets—(1.4)%				(1,095	)

Net Assets—100.0%			$	77,971

Notes to Schedule of Investments:

(a)	Non-income producing.


	Shares	Value* (000s)
COMMON STOCK—97.7%
Aerospace & Defense—2.5%
Northrop Grumman Corp.	17,820	$	1,168

Air Freight & Logistics—2.5%
United Parcel Service, Inc., Class B	18,630		1,200

Biotechnology—4.7%
Amgen, Inc. (a)	19,310		1,154
Gilead Sciences, Inc. (a)	22,990		1,046

			2,200

Building Products—2.0%
Masco Corp.	61,490		954

Capital Markets—4.4%
BlackRock, Inc.	4,660		1,015
Goldman Sachs Group, Inc.	6,280		1,071

			2,086

Chemicals—2.6%
EI Du Pont de Nemours & Co.	32,810		1,222

Communications Equipment—2.6%
Cisco Systems, Inc. (a)	46,350		1,206

Computers & Peripherals—10.4%
Apple, Inc. (a)	5,980		1,405
EMC Corp. (a)	62,020		1,119
Hewlett-Packard Co.	21,530		1,144
International Business Machines Corp.	9,410		1,207

			4,875

Consumer Finance—2.5%
American Express Co.	28,680		1,183

Electrical Equipment—2.5%
Emerson Electric Co.	23,090		1,162

Energy Equipment & Services—2.2%
Cameron International Corp. (a)	23,650		1,014

Food & Staples Retailing—4.8%
Walgreen Co.	30,970		1,149
Wal-Mart Stores, Inc.	20,160		1,121

			2,270

Health Care Providers & Services—2.3%
McKesson Corp.	16,830		1,106

Hotels, Restaurants & Leisure—5.0%
McDonald’s Corp.	17,750		1,185
Starbucks Corp. (a)	47,230		1,146

			2,331


	Shares	Value* (000s)
Household Products—2.3%
Procter & Gamble Co.	17,320	$	1,096

Industrial Conglomerates—2.5%
3M Co.	14,060		1,175

Internet & Catalog Retail—2.7%
Amazon.com, Inc. (a)	9,310		1,264

Internet Software & Services—5.4%
eBay, Inc. (a)	44,330		1,195
Google, Inc., Class A (a)	2,400		1,361

			2,556

Machinery—1.1%
Joy Global, Inc.	9,170		519

Media—2.6%
Comcast Corp., Class A	66,340		1,249

Metals & Mining—1.1%
Walter Energy, Inc.	5,760		531

Multiline Retail—2.6%
Nordstrom, Inc.	29,780		1,216

Oil, Gas & Consumable Fuels—2.0%
Alpha Natural Resources, Inc. (a)	19,270		961

Pharmaceuticals—7.0%
Abbott Laboratories	19,940		1,051
Johnson & Johnson	17,120		1,116
Merck & Co., Inc.	29,618		1,106

			3,273

Semiconductors & Semiconductor Equipment—4.7%
Broadcom Corp., Class A	34,780		1,154
Texas Instruments, Inc.	42,920		1,050

			2,204

Software—8.3%
BMC Software, Inc. (a)	23,840		906
Microsoft Corp.	57,980		1,697
Oracle Corp.	49,860		1,281

			3,884

Textiles, Apparel & Luxury Goods—2.1%
Polo Ralph Lauren Corp.	11,490		977

Tobacco—2.3%
Philip Morris International, Inc.	20,410		1,065

Total Common Stock (cost—$39,580)			45,947


	Principal Amount (000s)		Value* (000s)
Repurchase Agreement—2.3%
State Street Bank & Trust Co., dated 3/31/10, 0.01%, due 4/1/10, proceeds $1,079; collateralized by Federal Home Loan Bank Discount Notes, zero coupon, due 4/23/10, valued at $1,105 (cost—$1,079)	$	1,079	$	1,079

Total Investments (cost—$40,659)—100.0%				47,026

Other assets less liabilities—0.0%				21

Net Assets—100.0%			$	47,047

Notes to Schedule of Investments:

(a)	Non-income producing.


	Shares	Value* (000s)
COMMON STOCK—97.8%
Air Freight & Logistics—1.2%
UTI Worldwide, Inc.	656,710	$	10,061

Auto Components—1.3%
Gentex Corp.	521,010		10,118

Automobiles—1.2%
Thor Industries, Inc.	309,260		9,343

Biotechnology—1.1%
Cephalon, Inc. (a)	133,780		9,068

Building Products—3.5%
Lennox International, Inc.	218,210		9,671
Masco Corp.	614,710		9,540
Owens Corning (a)	364,030		9,261

			28,472

Capital Markets—4.6%
Affiliated Managers Group, Inc. (a)	120,270		9,501
Ameriprise Financial, Inc.	190,550		8,643
Lazard Ltd., Class A	261,930		9,351
SEI Investments Co.	420,880		9,247

			36,742

Chemicals—3.8%
Ashland, Inc.	212,160		11,196
Scotts Miracle-Gro Co., Class A	197,320		9,146
Valspar Corp.	342,040		10,083

			30,425

Commercial Banks—1.1%
CapitalSource, Inc.	1,652,830		9,239

Computers & Peripherals—2.3%
NetApp, Inc. (a)	294,370		9,585
Teradata Corp. (a)	299,150		8,642

			18,227

Containers & Packaging—1.0%
Crown Holdings, Inc. (a)	298,870		8,058

Electrical Equipment—4.6%
Hubbell, Inc., Class B	189,050		9,534
Rockwell Automation, Inc.	172,600		9,728
Roper Industries, Inc.	156,770		9,067
Thomas & Betts Corp. (a)	226,790		8,899

			37,228

Electronic Equipment, Instruments & Components—3.9%
Amphenol Corp., Class A	167,847		7,082
Arrow Electronics, Inc. (a)	301,090		9,072
Dolby Laboratories, Inc., Class A (a)	112,650		6,609
Jabil Circuit, Inc.	522,000		8,451

			31,214


	Shares	Value* (000s)
Energy Equipment & Services—2.2%
Dresser-Rand Group, Inc. (a)	318,270	$	10,000
Patterson-UTI Energy, Inc.	567,640		7,930

			17,930

Food & Staples Retailing—1.1%
Whole Foods Market, Inc. (a)	236,190		8,538

Food Products—2.3%
HJ Heinz Co.	207,430		9,461
Sara Lee Corp.	651,418		9,074

			18,535

Health Care Equipment & Supplies—3.4%
Hill-Rom Holdings, Inc.	348,610		9,486
Hospira, Inc. (a)	143,290		8,117
Teleflex, Inc.	153,340		9,825

			27,428

Health Care Providers & Services—4.6%
AmerisourceBergen Corp.	357,300		10,333
Coventry Health Care, Inc. (a)	434,940		10,752
Laboratory Corp. of America Holdings (a)	108,960		8,249
Lincare Holdings, Inc. (a)	177,100		7,948

			37,282

Hotels, Restaurants & Leisure—3.7%
Panera Bread Co., Class A (a)	131,210		10,036
WMS Industries, Inc. (a)	208,740		8,754
Wyndham Worldwide Corp.	437,880		11,267

			30,057

Household Durables—1.1%
Newell Rubbermaid, Inc.	579,830		8,813

Household Products—1.1%
Church & Dwight Co., Inc.	135,010		9,039

Insurance—2.7%
Genworth Financial, Inc., Class A (a)	703,580		12,904
Transatlantic Holdings, Inc.	173,300		9,150

			22,054

Internet & Catalog Retail—0.7%
Priceline.com, Inc. (a)	21,620		5,513

Internet Software & Services—2.3%
IAC/InterActiveCorp. (a)	399,570		9,086
VeriSign, Inc. (a)	361,250		9,396

			18,482

IT Services—2.1%
Amdocs Ltd. (a)	326,800		9,840
Fidelity National Information Services, Inc.	303,915		7,124

			16,964


	Shares	Value* (000s)
Life Sciences Tools & Services—2.4%
Bio-Rad Laboratories, Inc., Class A (a)	93,750	$	9,705
Life Technologies Corp. (a)	184,500		9,644

			19,349

Machinery—3.6%
Crane Co.	285,810		10,146
Donaldson Co., Inc.	222,350		10,033
WABCO Holdings, Inc. (a)	300,770		8,999

			29,178

Media—1.1%
McGraw-Hill Cos., Inc.	257,370		9,175

Metals & Mining—0.6%
Walter Energy, Inc.	53,240		4,912

Multiline Retail—1.2%
Big Lots, Inc. (a)	275,910		10,049

Oil, Gas & Consumable Fuels—1.0%
Alpha Natural Resources, Inc. (a)	169,650		8,464

Personal Products—2.0%
Herbalife Ltd.	183,510		8,463
NBTY, Inc. (a)	160,290		7,691

			16,154

Pharmaceuticals—1.4%
Mylan, Inc. (a)	500,480		11,366

Professional Services—2.3%
IHS, Inc., Class A (a)	158,860		8,494
Robert Half International, Inc.	322,160		9,804

			18,298

Real Estate Investment Trust—2.5%
Digital Realty Trust, Inc.	196,010		10,624
Public Storage	108,220		9,955

			20,579

Semiconductors & Semiconductor Equipment—3.9%
Analog Devices, Inc.	294,650		8,492
Marvell Technology Group Ltd. (a)	329,810		6,721
ON Semiconductor Corp. (a)	879,530		7,036
Silicon Laboratories, Inc. (a)	191,710		9,139

			31,388

Software—6.8%
BMC Software, Inc. (a)	208,090		7,908
CA, Inc.	445,170		10,448


	Shares	Value* (000s)
Intuit, Inc. (a)	280,610	$	9,636
McAfee, Inc. (a)	204,380		8,202
Red Hat, Inc. (a)	289,590		8,476
Sybase, Inc. (a)	222,560		10,376

			55,046

Specialty Retail—8.1%
American Eagle Outfitters, Inc.	506,990		9,389
CarMax, Inc. (a)	370,130		9,298
Chico’s FAS, Inc.	536,570		7,737
Guess?, Inc.	229,450		10,780
Ltd. Brands, Inc.	383,830		9,450
Penske Auto Group, Inc. (a)	651,170		9,390
Williams-Sonoma, Inc.	347,330		9,131

			65,175

Textiles, Apparel & Luxury Goods—2.7%
Coach, Inc.	272,620		10,774
VF Corp.	135,800		10,884

			21,658

Trading Companies & Distributors—1.3%
MSC Industrial Direct Co., Class A	199,540		10,121

Total Investments (cost—$645,783)—97.8%			789,742

Other assets less liabilities—2.2%			17,563

Net Assets—100.0%		$	807,305

Notes to Schedule of Investments:

(a)	Non-income producing.


	Shares	Value* (000s)
COMMON STOCK—95.3%
Brazil—12.6%
Banco do Brasil S.A.	37,600	$	631
Centrais Eletricas Brasileiras S.A.	34,100		502
Cia Brasileira de Distribuicao Grupo Pao de Acucar ADR	18,500		1,244
Diagnosticos da America S.A.	127,300		1,117
EDP - Energias do Brasil S.A.	18,300		352
Marfrig Alimentos S.A.	68,300		781
OGX Petroleo e Gas Participacoes S.A.	126,100		1,181
Petroleo Brasileiro S.A. ADR	62,600		2,478
Petroleo Brasileiro S.A. ADR	40,100		1,784
Vale S.A. ADR	183,300		5,901

			15,971

Chile—0.2%
Enersis S.A. ADR	8,800		176

China—11.4%
Bank of China Ltd.	1,979,000		1,050
China Construction Bank Corp.	1,467,200		1,198
China Life Insurance Co., Ltd.	271,000		1,299
China Merchants Holdings International Co., Ltd.	104,000		379
China Mobile Ltd.	167,500		1,611
China Resources Land Ltd.	224,000		483
China Shenhua Energy Co., Ltd., Class H	196,500		844
Great Wall Motor Co., Ltd.	460,000		965
Industrial & Commercial Bank of China	1,626,300		1,239
Kingboard Chemical Holdings Ltd.	138,000		627
PetroChina Co., Ltd.	586,000		687
Sinotrans Ltd.	2,241,000		619
Skyworth Digital Holdings Ltd.	1,926,000		2,249
Tencent Holdings Ltd.	60,800		1,218

			14,468

Hong Kong—3.4%
Cathay Pacific Airways Ltd. (b)	342,000		718
Orient Overseas International Ltd.	90,000		666
Pacific Textile Holdings Ltd.	629,000		396
Sun Hung Kai Properties Ltd.	43,000		645
Xingda International Holdings Ltd.	2,535,000		1,402
XTEP International Holdings	632,500		508

			4,335

Hungary—0.3%
OTP Bank PLC (b)	10,777		377

India—6.4%
Apollo Tyres Ltd.	446,483		707
Aurobindo Pharma Ltd.	50,059		1,071
Axis Bank Ltd.	40,735		1,062
Infosys Technologies Ltd.	28,558		1,662


	Shares	Value* (000s)
Punjab National Bank Ltd.	76,393	$	1,715
Tata Motors Ltd.	38,752		653
Welspun-Gujarat Stahl Ltd.	64,891		395
Zee Entertainment Enterprises Ltd.	142,296		851

			8,116

Indonesia—2.9%
Adaro Energy PT	3,376,000		725
Astra International Tbk PT	117,000		537
Bank Mandiri Tbk PT	446,500		262
Indocement Tunggal Prakarsa Tbk PT	342,000		535
Indofood Sukses Makmur Tbk PT	1,064,500		441
United Tractors Tbk PT	568,500		1,144

			3,644

Israel—2.3%
Teva Pharmaceutical Industries Ltd. ADR	46,400		2,927

Korea (Republic of)—15.1%
CJ Corp.	8,604		512
Daewoo Shipbuilding & Marine Engineering Co., Ltd.	26,440		507
GS Holdings Corp.	28,290		1,002
Hanwha Chem Corp.	48,060		586
Hyundai Motor Co.	8,179		834
KB Financial Group, Inc.	12,160		586
Kia Motors Corp.	85,580		1,908
Korea Zinc Co., Ltd.	4,102		732
KT Corp.	37,710		1,561
LG Chemical Ltd.	4,563		970
LG Display Co., Ltd.	44,600		1,576
POSCO	3,556		1,662
Samsung Electronics Co., Ltd.	5,853		4,232
Shinhan Financial Group Co., Ltd.	49,543		1,953
Sungwoo Hitech Co., Ltd.	38,775		514

			19,135

Kuwait—0.1%
Global Investment House KSCC GDR (b)(c)	53,096		82

Malaysia—3.8%
AMMB Holdings Bhd.	282,300		432
CIMB Group Holdings Bhd.	611,500		2,635
SapuraCrest Petroleum Bhd.	947,500		696
Supermax Corp. Bhd.	504,900		1,048

			4,811

Mexico—2.2%
Alfa SAB de C.V.	63,800		502
America Movil SAB De C.V. ADR, Class L	21,400		1,077


	Shares	Value* (000s)
Genomma Lab Internacional S.A. De C.V. (b)	156,500	$	544
Grupo Financiero Banorte SAB De C.V.	142,899		634

			2,757

Panama—0.8%
Copa Holdings S.A., Class A	16,800		1,021

Philippines—1.8%
Robinsons Land Corp.	2,207,200		707
Universal Robina Corp.	2,799,400		1,546

			2,253

Poland—0.6%
KGHM Polska Miedz S.A.	21,503		808

Russia—8.1%
Gazprom OAO ADR	71,150		1,660
Lukoil OAO ADR	17,000		964
Magnitogorsk Iron & Steel Works GDR (b)	88,050		1,067
Mechel ADR	38,600		1,097
Mobile Telesystems OJSC ADR	23,100		1,282
Rosneft Oil Co. GDR	105,450		836
Sberbank of Russian Federation	499,673		1,464
Severstal OAO GDR (b)	28,000		407
Sistema JSFC GDR (b)	54,800		1,485

			10,262

Singapore—1.4%
Hong Leong Asia Ltd.	225,000		728
Tiger Airways Holdings Ltd. (b)	847,636		1,079

			1,807

South Africa—4.8%
Aveng Ltd.	234,106		1,207
DataTec Ltd.	119,780		532
Imperial Holdings Ltd.	80,464		1,105
Kumba Iron Ore Ltd.	16,782		810
Mondi Ltd.	65,375		482
MTN Group Ltd.	39,393		605
Standard Bank Group Ltd.	54,807		858
Tiger Brands Ltd.	15,643		393

			5,992

Sweden—0.5%
Alliance Oil Co., Ltd. (b)	39,724		630

Taiwan—8.8%
Advanced Semiconductor Engineering, Inc.	1,158,000		1,054
Compal Electronics, Inc.	1,395,335		1,826
Coretronic Corp.	312,000		443
Fubon Financial Holding Co., Ltd. (b)	640,000		778
HON HAI Precision Industry Co., Ltd.	680,000		2,944
Huaku Development Co., Ltd.	329,000		854
Lite-On Technology Corp.	525,640		697


	Shares	Value* (000s)
Tripod Technology Corp.	380,000	$	1,287
WPG Holdings Co., Ltd.	416,000		680
Yageo Corp.	1,434,000		560

			11,123

Thailand—4.1%
Bangkok Bank PLC	192,400		781
Banpu PCL	36,700		691
Charoen Pokphand Foods PCL	2,744,000		1,272
Kasikornbank PCL	181,900		542
Thai Airways International PCL	2,205,700		1,924

			5,210

Turkey—2.7%
Alarko Holding AS	59,252		150
Aselsan Elektronik Sanayi Ve Ticaret AS	41,852		358
Asya Katilim Bankasi AS (b)	188,423		505
Boyner Buyuk Magazacilik (b)	249,400		370
KOC Holding AS (b)	123,563		425
TAV Havalimanlari Holding AS (b)	94,477		380
Tekfen Holding AS (b)	114,429		430
Tofas Turk Otomobil Fabrikasi AS	109,590		414
Turkiye Garanti Bankasi AS	82,375		386

			3,418

United Kingdom—1.0%
African Barrick Gold Ltd. (b)	85,415		756
Eurasian Natural Resources Corp. PLC	25,667		464

			1,220

Total Common Stock (cost—$97,824)			120,543


PREFERRED STOCK—4.1%

Brazil—4.1%
Banco Bradesco S.A.	24,900		459
Investimentos Itau S.A.	373,390		2,558
Itau Unibanco Holding S.A.	24,600		540
Klabin S.A.	115,200		354
Metalurgica Gerdau S.A.	33,100		679
Ultrapar Participacoes S.A.	13,900		668

Total Preferred Stock (cost—$3,705)			5,258

Total Investments (cost—$101,529) (a)—99.4%			125,801

Other assets less liabilities—0.6%			725

Net Assets—100.0%		$	126,526


	Shares	Value* (000s)
COMMON STOCK—98.2%
Australia—2.1%
BHP Billiton Ltd.	23,759	$	953

Belgium—2.4%
Anheuser-Busch InBev NV	10,630		535
Umicore	17,334		604

			1,139

Brazil—3.8%
Cielo S.A.	83,600		787
Hypermarcas S.A. (b)	38,100		466
Tractebel Energia S.A.	44,800		504

			1,757

Canada—1.6%
Potash Corp. of Saskatchewan, Inc.	6,400		764

China—3.2%
Bank of China Ltd.	1,357,000		720
Huabao International Holdings Ltd.	656,000		783
Peace Mark Holdings Ltd. (b)(d)	696,000		—	(c)

			1,503

Denmark—1.2%
Vestas Wind Systems A/S (b)	10,500		571

France—5.5%
BNP Paribas	9,781		750
Danone	11,117		669
GDF Suez	14,973		579
Ingenico	22,737		568

			2,566

Germany—2.7%
Siemens AG	6,916		691
ThyssenKrupp AG	16,438		564

			1,255

Ireland—1.3%
C&C Group PLC	135,646		613

Israel—1.4%
Teva Pharmaceutical Industries Ltd. ADR	10,400		656

Italy—1.0%
Prysmian SpA	24,581		483

Japan—5.8%
Fanuc Ltd.	8,300		882
Honda Motor Co., Ltd.	23,500		828
Marubeni Corp.	106,000		660
Tsumura & Co.	12,000		349

			2,719


	Shares	Value* (000s)
Malaysia—1.7%
CIMB Group Holdings Bhd.	184,700	$	796

Netherlands—2.3%
ING Groep NV (b)	49,871		494
Koninklijke KPN NV	37,036		588

			1,082

Singapore—1.9%
United Overseas Bank Ltd.	64,000		877

Spain—2.9%
Tecnicas Reunidas S.A.	12,359		777
Telefonica S.A.	24,242		574

			1,351

Switzerland—3.7%
ABB Ltd. (b)	41,504		907
Credit Suisse Group AG	15,583		802

			1,709

Thailand—1.5%
Kasikornbank PCL	230,600		688

United Kingdom—10.4%
ARM Holdings PLC	216,244		775
BG Group PLC	34,170		592
Croda International PLC	43,525		619
HSBC Holdings PLC	74,577		756
IG Group Holdings PLC	152,548		931
Kingfisher PLC	154,289		502
Petrofac Ltd.	35,953		656

			4,831

United States—41.8%
Abbott Laboratories	13,400		706
Alcon, Inc.	3,700		598
Anadarko Petroleum Corp.	10,800		787
Apple, Inc. (b)	4,700		1,104
Baker Hughes, Inc.	14,700		688
Bank of America Corp.	56,200		1,003
Best Buy Co., Inc.	12,300		523
Caterpillar, Inc.	13,000		817
Cisco Systems, Inc. (b)	37,800		984
Ecolab, Inc.	19,700		866
FedEx Corp.	8,300		775
Fluor Corp.	9,300		432
Guess?, Inc.	16,000		752
Hewlett-Packard Co.	15,100		803
Interpublic Group of Cos., Inc. (b)	69,800		581
JPMorgan Chase & Co.	17,700		792
Kellogg Co.	15,200		812
Nike, Inc., Class B	12,600		926


	Shares		Value* (000s)
Occidental Petroleum Corp.		8,600	$	727
Oracle Corp.		37,100		953
Praxair, Inc.		9,300		772
Primerica, Inc. (b)		4,100		61
Target Corp.		13,400		705
Thermo Fisher Scientific, Inc. (b)		14,300		736
URS Corp. (b)		16,000		794
XTO Energy, Inc.		16,325		770

				19,467

Total Common Stock (cost—$39,114)				45,780


PREFERRED STOCK—1.4%

Germany—1.4%
Henkel AG & Co. KGaA (cost—$603)		12,645		681


	Principal Amount (000s)
Repurchase Agreement—2.4%
State Street Bank & Trust Co., dated 3/31/10, 0.01%, due 4/1/10, proceeds $1,123; collateralized by Federal Home Loan Bank Discount Notes, zero coupon, due 4/23/10, valued at $1,150 (cost—$1,123)	$	1,123		1,123

Total Investments (cost—$40,840) (a)—102.0%				47,584

Liabilities in excess of other assets—(2.0)%				(955	)

Net Assets—100.0%			$	46,629

Notes to Schedule of Investments

(amounts in thousands):

(a)	Securities with an aggregate value of $23,817, representing 51.1% of net assets, were valued utilizing modeling tools provided by a third-party vendor.

(b)	Non-income producing.

(c)	Amount less than $500.

(d)	Fair-Valued.

Glossary:

ADR—American Depositary Receipt


	Shares	Value* (000s)
COMMON STOCK—97.5%
Aerospace & Defense—2.1%
Raytheon Co.	9,100	$	520
United Technologies Corp.	6,000		441

			961

Automobiles—0.9%
Ford Motor Co. (a)	33,300		419

Beverages—1.1%
Coca-Cola Co.	8,600		473

Biotechnology—2.4%
Amgen, Inc. (a)	18,400		1,100

Chemicals—2.0%
CF Industries Holdings, Inc.	4,700		429
Nalco Holding Co.	19,000		462

			891

Communications Equipment—3.7%
Cisco Systems, Inc. (a)	42,900		1,117
QUALCOMM, Inc.	13,500		567

			1,684

Computers & Peripherals—14.2%
Apple, Inc. (a)	8,500		1,997
EMC Corp. (a)	23,800		429
Hewlett-Packard Co.	32,200		1,712
International Business Machines Corp.	10,700		1,372
NetApp, Inc. (a)	13,300		433
SanDisk Corp. (a)	8,200		284
Western Digital Corp. (a)	5,400		211

			6,438

Electrical Equipment—1.0%
Emerson Electric Co.	9,300		468

Electronic Equipment, Instruments & Components—1.1%
Jabil Circuit, Inc.	30,400		492

Energy Equipment & Services—2.0%
Ensco International PLC ADR	6,300		282
National-Oilwell Varco, Inc.	15,400		625

			907

Food & Staples Retailing—3.0%
Wal-Mart Stores, Inc.	24,600		1,368

Food Products—0.9%
Archer-Daniels-Midland Co.	13,300		384


	Shares	Value* (000s)
Health Care Equipment & Supplies—2.5%
Hospira, Inc. (a)	12,900	$	731
Medtronic, Inc.	9,100		410

			1,141

Health Care Providers & Services—7.8%
Aetna, Inc.	22,200		779
AmerisourceBergen Corp.	23,500		680
Cardinal Health, Inc.	20,300		731
Medco Health Solutions, Inc. (a)	7,600		491
UnitedHealth Group, Inc.	26,600		869

			3,550

Hotels, Restaurants & Leisure—1.0%
Starbucks Corp. (a)	19,000		461

Household Durables—2.7%
Jarden Corp.	15,200		506
Whirlpool Corp.	8,400		733

			1,239

Household Products—4.0%
Procter & Gamble Co.	28,900		1,828

Independent Power Producers & Energy Traders—1.0%
Constellation Energy Group, Inc.	12,900		453

Industrial Conglomerates—2.9%
3M Co.	11,400		952
General Electric Co.	19,000		346

			1,298

Insurance—1.6%
Aflac, Inc.	9,100		494
Prudential Financial, Inc.	4,100		248

			742

Internet Software & Services—2.8%
Google, Inc., Class A (a)	2,200		1,247

IT Services—2.5%
Amdocs Ltd. (a)	7,200		217
Cognizant Technology Solutions Corp., Class A (a)	10,600		541
Computer Sciences Corp. (a)	7,200		392

			1,150

Machinery—1.1%
Danaher Corp.	6,000		479

Media—4.6%
Comcast Corp., Class A	26,600		501
Gannett Co., Inc.	21,300		352


	Shares	Value* (000s)
Scripps Networks Interactive, Inc., Class A	11,400	$	505
Viacom, Inc., Class B (a)	21,300		732

			2,090

Metals & Mining—0.5%
Freeport-McMoRan Copper & Gold, Inc.	2,900		242

Multiline Retail—0.7%
Target Corp.	6,000		316

Oil, Gas & Consumable Fuels—3.9%
Exxon Mobil Corp.	6,000		402
Peabody Energy Corp.	9,800		448
Southwestern Energy Co. (a)	9,900		403
Williams Cos., Inc.	22,000		508

			1,761

Personal Products—0.7%
Estee Lauder Cos., Inc., Class A	4,900		318

Pharmaceuticals—7.0%
Abbott Laboratories	21,000		1,106
Johnson & Johnson	16,700		1,089
Merck & Co., Inc.	14,900		557
Warner Chilcott PLC, Class A (a)	17,235		440

			3,192

Semiconductors & Semiconductor Equipment—4.4%
Cree, Inc. (a)	6,800		477
Intel Corp.	48,300		1,075
Marvell Technology Group Ltd. (a)	10,100		206
Micron Technology, Inc. (a)	24,400		254

			2,012

Software—9.4%
CA, Inc.	20,000		470
Microsoft Corp.	71,200		2,084
Nuance Communications, Inc. (a)	29,200		486
Oracle Corp.	31,100		799
Symantec Corp. (a)	24,600		416

			4,255

Specialty Retail—2.0%
Bed Bath & Beyond, Inc. (a)	5,200		227
Staples, Inc.	30,000		702

			929

Total Common Stock (cost—$37,516)			44,288


	Principal Amount (000s)		Value* (000s)
Repurchase Agreement—2.5%
State Street Bank & Trust Co., dated 3/31/10, 0.01%, due 4/1/10, proceeds $1,124; collateralized by Fannie Mae, 1.722%, due 5/10/11, valued at $1,149 including accrued interest (cost—$1,124)	$	1,124	$	1,124

Total Investments (cost—$38,640)—100.0%				45,412

Liabilities in excess of other assets—(0.0)%				(3	)

Net Assets—100.0%			$	45,409

Notes to Schedule of Investments:

(a)	Non-income producing.

Glossary:

ADR—American Depositary Receipt


	Credit Rating (Moody’s/S&P)	Principal Amount (000s)		Value* (000s)
CORPORATE BONDS & NOTES—30.6%
Apparel & Textiles—1.0%
Levi Strauss & Co.,
9.75%, 1/15/15	B2/B+	$	600	$	631
Oxford Industries, Inc.,
11.375%, 7/15/15	B1/BB-		105		118
Quiksilver, Inc.,
6.875%, 4/15/15	Caa2/CCC		500		465

					1,214

Automotive—1.0%
American Axle & Manufacturing, Inc.,
7.875%, 3/1/17	Caa2/CCC		425		398
Exide Technologies,
10.50%, 3/15/13	B3/B-		230		235
Lear Corp.,
7.875%, 3/15/18	B1/BB-		115		117
Navistar International Corp.,
8.25%, 11/1/21	B1/BB-		425		436

					1,186

Building & Construction—0.3%
K Hovnanian Enterprises, Inc.,
10.625%, 10/15/16	B1/CCC+		400		428

Building Products—0.4%
Louisiana-Pacific Corp.,
13.00%, 3/15/17	Ba3/BBB-		228		249
Texas Industries, Inc.,
7.25%, 7/15/13	B3/B		250		247

					496

Chemicals—0.7%
Hexion Finance Escrow LLC (a),
8.875%, 2/1/18	B3/CCC+		300		297
Huntsman International LLC (a),
8.625%, 3/15/20	B3/CCC+		500		504

					801

Commercial Products—1.5%
Avis Budget Car Rental LLC,
7.75%, 5/15/16	B3/B		475		468
DI Finance,
9.50%, 2/15/13	B1/B+		375		382
Hertz Corp.,
10.50%, 1/1/16	B3/CCC+		500		539
RSC Equipment Rental, Inc.,
9.50%, 12/1/14	Caa2/B-		400		398

					1,787

Commercial Services—1.8%
ARAMARK Corp.,
8.50%, 2/1/15	B3/B		725		745
Cardtronics, Inc.,
9.25%, 8/15/13	B3/B+		710		737


	Credit Rating (Moody’s/S&P)	Principal Amount (000s)		Value* (000s)
KAR Auction Services, Inc.,
8.75%, 5/1/14	B3/CCC+	$	400	$	410
National Money Mart Co. (a),
10.375%, 12/15/16	B2/B+		250		266

					2,158

Communications—0.4%
Affinion Group, Inc.,
11.50%, 10/15/15	Caa1/B-		500		515

Computer Services—0.4%
Stream Global Services, Inc. (a),
11.25%, 10/1/14	B1/B+		370		387
Unisys Corp. (a),
12.75%, 10/15/14	Ba3/BB-		99		116

					503

Consumer Products—0.2%
Jarden Corp.,
7.50%, 5/1/17	B3/B		300		306

Containers & Packaging—0.3%
BWAY Corp. (a),
10.00%, 4/15/14	B3/B-		300		324

Cosmetics—0.3%
Revlon Consumer Products Corp. (a),
9.75%, 11/15/15	B3/B-		405		420

Diversified Manufacturing—0.3%
Harland Clarke Holdings Corp.,
9.50%, 5/15/15	Caa1/B-		400		377

Electronics—0.7%
General Cable Corp.,
7.125%, 4/1/17	Ba3/B+		400		399
Sanmina-SCI Corp.,
8.125%, 3/1/16	B2/CCC		440		445

					844

Energy—0.8%
Cloud Peak Energy Resources LLC (a),
8.25%, 12/15/17	B1/BB-		450		461
Consol Energy, Inc. (a)(b),
8.00%, 4/1/17	B1/BB		475		491

					952

Financial Services—2.3%
American General Finance Corp.,
6.90%, 12/15/17	B2/B		560		491
CB Richard Ellis Services, Inc.,
11.625%, 6/15/17	Ba3/B+		300		337
Ford Motor Credit Co. LLC,
7.00%, 10/1/13	B1/B-		250		259


	Credit Rating (Moody’s/S&P)	Principal Amount (000s)		Value* (000s)
8.125%, 1/15/20	B1/B-	$	525	$	552
GMAC, Inc.,
6.75%, 12/1/14	B3/B		300		301
International Lease Finance Corp.,
6.375%, 3/25/13	B1/BB+		235		230
8.625%, 9/15/15 (a)	B1/BB+		565		579
SLM Corp.,
8.45%, 6/15/18	Ba1/BBB-		70		71

					2,820

Healthcare & Hospitals—2.1%
AMR HoldCo., Inc.,
10.00%, 2/15/15	Ba2/B+		150		158
Apria Healthcare Group, Inc. (a),
11.25%, 11/1/14	Ba2/BB+		300		328
Community Health Systems, Inc.,
8.875%, 7/15/15	B3/B		450		467
HCA, Inc.,
7.25%, 9/15/20 (a)	Ba3/BB		300		305
9.25%, 11/15/16	B2/BB-		700		746
Sun Healthcare Group, Inc.,
9.125%, 4/15/15	B3/CCC+		525		542

					2,546

Hotels/Gaming—1.1%
Harrah’s Operating Co., Inc.,
10.00%, 12/15/18	NR/CCC-		600		500
11.25%, 6/1/17	Caa1/B-		380		411
MGM Mirage (a),
11.375%, 3/1/18	Caa1/CCC+		400		388

					1,299

Household Products—0.3%
Libbey Glass, Inc. (a),
10.00%, 2/15/15	B2/B		300		317

Internet Software & Services—0.6%
Equinix, Inc.,
8.125%, 3/1/18	Ba2/B+		345		359
Terremark Worldwide, Inc. (a),
12.25%, 6/15/17	B2/B-		300		346

					705

Leisure—0.3%
NCL Corp. Ltd. (a),
11.75%, 11/15/16	B3/B+		350		382

Machinery—0.6%
Baldor Electric Co.,
8.625%, 2/15/17	B3/B		450		478
Terex Corp.,
7.375%, 1/15/14	Ba3/BB-		200		204

					682


	Credit Rating (Moody’s/S&P)	Principal Amount (000s)		Value* (000s)
Multi-Media—2.4%
Cablevision Systems Corp. (a),
8.625%, 9/15/17	B1/B+	$	350	$	372
Clear Channel Worldwide Holdings, Inc. (a),
9.25%, 12/15/17	B2/B		525		548
DISH DBS Corp.,
7.125%, 2/1/16	Ba3/BB-		500		512
McClatchy Co. (a),
11.50%, 2/15/17	B1/B-		380		390
Media General, Inc. (a),
11.75%, 2/15/17	B2/B		495		492
Mediacom Broadband LLC,
8.50%, 10/15/15	B3/B-		300		308
Sirius XM Radio, Inc. (a),
8.75%, 4/1/15	Caa1/B		250		250

					2,872

Oil & Gas—1.8%
Allis-Chalmers Energy, Inc.,
9.00%, 1/15/14	Caa1/B-		350		338
Chesapeake Energy Corp.,
6.875%, 1/15/16	Ba3/BB		300		298
El Paso Corp.,
8.25%, 2/15/16	Ba3/BB-		300		322
OPTI Canada, Inc.,
8.25%, 12/15/14	Caa3/B		550		520
PetroHawk Energy Corp.,
7.875%, 6/1/15	B3/B		200		204
Pioneer Drilling Co. (a),
9.875%, 3/15/18	B3/B		500		497

					2,179

Paper/Paper Products—0.7%
Neenah Paper, Inc.,
7.375%, 11/15/14	B2/BB-		550		543
NewPage Corp.,
11.375%, 12/31/14	B2/CCC+		350		350

					893

Pharmaceuticals—0.4%
Valeant Pharmaceuticals International (a),
8.375%, 6/15/16	Ba3/B+		420		441

Printing/Publishing—0.4%
Cenveo Corp.,
7.875%, 12/1/13	Caa1/B-		550		529


	Credit Rating (Moody’s/S&P)	Principal Amount (000s)		Value* (000s)
Retail—1.1%
Inergy L.P.,
8.25%, 3/1/16	B1/B+	$	500	$	517
Neiman-Marcus Group, Inc.,
10.375%, 10/15/15	Caa3/CCC+		480		498
Rite Aid Corp.,
8.625%, 3/1/15	Caa3/CCC		410		353

					1,368

Technology—1.9%
Advanced Micro Devices, Inc. (a),
8.125%, 12/15/17	B2/B-		465		481
Amkor Technology, Inc.,
9.25%, 6/1/16	Ba3/B+		470		498
First Data Corp.,
9.875%, 9/24/15	Caa1/B-		450		390
Freescale Semiconductor, Inc. (a),
10.125%, 3/15/18	B2/B-		500		541
JDA Software Group, Inc. (a),
8.00%, 12/15/14	B1/BB-		345		361

					2,271

Telecommunications—3.5%
Cincinnati Bell, Inc.,
8.75%, 3/15/18	B2/B-		370		375
DigitalGlobe, Inc. (a),
10.50%, 5/1/14	Ba3/BB		200		216
Hughes Network Systems LLC,
9.50%, 4/15/14	B1/B		600		620
Intelsat Jackson Holdings S.A.,
9.50%, 6/15/16	B3/B+		300		321
ITC Deltacom, Inc. (a)(b),
10.50%, 4/1/16	B3/B-		470		471
MasTec, Inc.,
7.625%, 2/1/17	B1/B+		200		195
Millicom International Cellular S.A.,
10.00%, 12/1/13	B1/NR		200		208
Nextel Communications, Inc.,
7.375%, 8/1/15	Ba2/BB-		300		286
NII Capital Corp. (a),
8.875%, 12/15/19	B1/BB-		430		447
Sprint Capital Corp.,
8.375%, 3/15/12	Ba3/BB-		300		314
West Corp.,
11.00%, 10/15/16	Caa1/B-		550		586
Windstream Corp.,
8.625%, 8/1/16	Ba3/B+		250		257

					4,296

Utilities—0.6%
Edison Mission Energy,
7.00%, 5/15/17	B2/B		500		351


	Credit Rating (Moody’s/S&P)	Principal Amount (000s)		Value* (000s)
Energy Future Holdings Corp.,
10.875%, 11/1/17 (i)	Caa3/B-	$	535	$	400

					751

Wholesale—0.4%
Intcomex, Inc. (a),
13.25%, 12/15/14	B3/B-		500		508

Total Corporate Bonds & Notes (cost—$35,798)					37,170


COMMON STOCK—30.2%

		Shares
Aerospace & Defense—0.7%
L-3 Communications Holdings, Inc. (e)			9,200		843

Auto Components—0.8%
Johnson Controls, Inc.			28,200		930

Automobiles—0.7%
Ford Motor Co. (e)(f)			64,800		815

Beverages—1.8%
Coca-Cola Co.			16,507		908
Molson Coors Brewing Co., Class B			11,200		471
PepsiCo, Inc.			12,500		827

					2,206

Biotechnology—0.7%
Gilead Sciences, Inc. (f)			19,100		869

Communications Equipment—2.2%
Cisco Systems, Inc. (e)(f)			33,500		872
Harris Corp. (e)			19,600		931
QUALCOMM, Inc.			21,700		911

					2,714

Computers & Peripherals—2.3%
Apple, Inc. (e)(f)			4,000		940
EMC Corp. (e)(f)			48,500		875
International Business Machines Corp.			7,200		923

					2,738

Construction & Engineering—0.3%
Fluor Corp.			8,800		409

Diversified Telecommunication Services—0.8%
Verizon Communications, Inc.			29,500		915

Electronic Equipment, Instruments & Components—0.7%
Amphenol Corp., Class A			19,800		835


	Shares	Value* (000s)
Energy Equipment & Services—2.1%
Diamond Offshore Drilling, Inc.	11,200	$	995
National-Oilwell Varco, Inc.	18,700		759
Schlumberger Ltd.	13,300		844

			2,598

Health Care Equipment & Supplies—1.5%
Baxter International, Inc.	14,600		850
Intuitive Surgical, Inc. (e)(f)	2,640		919

			1,769

Health Care Providers & Services—1.5%
McKesson Corp. (e)	14,200		933
Medco Health Solutions, Inc. (f)	13,100		846

			1,779

Hotels, Restaurants & Leisure—0.8%
McDonald’s Corp.	13,800		921

Household Products—0.7%
Procter & Gamble Co.	13,500		854

Industrial Conglomerates—1.4%
General Electric Co. (e)	47,722		868
Textron, Inc. (e)	41,200		875

			1,743

Insurance—0.8%
Prudential Financial, Inc. (e)	15,800		956

Internet Software & Services—0.7%
Google, Inc., Class A (e)(f)	1,575		893

Machinery—2.2%
AGCO Corp. (f)	24,700		886
Deere & Co.	14,600		868
Joy Global, Inc. (e)	16,300		923

			2,677

Metals & Mining—0.8%
Freeport-McMoRan Copper & Gold, Inc. (e)	11,450		957

Multiline Retail—0.7%
Target Corp. (e)	17,100		899

Oil, Gas & Consumable Fuels—1.5%
Occidental Petroleum Corp. (e)	10,700		905
Peabody Energy Corp. (e)	20,900		955

			1,860

Pharmaceuticals—1.5%
Abbott Laboratories	17,800		937
Bristol-Myers Squibb Co.	33,100		884

			1,821


		Shares		Value* (000s)
Semiconductors & Semiconductor Equipment—1.5%
Intel Corp. (e)			41,500	$	924
Texas Instruments, Inc.			37,900		927

					1,851

Software—1.5%
Microsoft Corp. (e)			29,800		872
Oracle Corp. (e)			36,900		948

					1,820

Total Common Stock (cost—$38,484)					36,672


CONVERTIBLE BONDS—19.6%

	Credit Rating (Moody’s/S&P)	Principal Amount (000s)
Aerospace & Defense—1.2%
AAR Corp.,
1.75%, 2/1/26	NR/BB	$	400		416
Orbital Sciences Corp.,
2.438%, 1/15/27	NR/BB-		275		284
Triumph Group, Inc.,
2.625%, 10/1/26	NR/NR		550		740

					1,440

Airlines—0.6%
Continental Airlines, Inc.,
4.50%, 1/15/15	B3/CCC+		550		720

Auto Components—0.8%
BorgWarner, Inc.,
3.50%, 4/15/12	NR/BBB		350		459
TRW Automotive, Inc. (a),
3.50%, 12/1/15	B3/B-		400		479

					938

Biotechnology—0.4%
Life Technologies Corp.,
2.00%, 8/1/23	NR/BBB-		275		423

Building/Construction—0.5%
DR Horton, Inc.,
2.00%, 5/15/14	Ba3/BB-		525		621

Communications—1.8%
Priceline.com, Inc. (a),
1.25%, 3/15/15	NR/NR		600		631
Symantec Corp.,
1.00%, 6/15/13	NR/NR		600		640


	Credit Rating (Moody’s/S&P)	Principal Amount (000s)		Value* (000s)
TeleCommunication Systems, Inc. (a),
4.50%, 11/1/14	NR/NR	$	375	$	388
VeriSign, Inc.,
3.25%, 8/15/37	NR/NR		575		523

					2,182

Consumer Services—0.4%
Alliance Data Systems Corp.,
1.75%, 8/1/13	NR/NR		460		470

Diversified Manufacturing—0.6%
Actuant Corp.,
2.00%, 11/15/23	NR/B+		625		674

Electrical Equipment—0.8%
EnerSys (i),
3.375%, 6/1/38	B2/BB		575		540
General Cable Corp.,
0.875%, 11/15/13	Ba3/B+		515		447

					987

Energy—0.1%
Covanta Holding Corp.,
1.00%, 2/1/27	Ba3/B		175		165

Financial Services—0.5%
Janus Capital Group, Inc.,
3.25%, 7/15/14	Baa3/BB+		475		602

Food—0.4%
Tyson Foods, Inc.,
3.25%, 10/15/13	NR/BB		350		449

Healthcare—1.9%
American Medical Systems Holdings, Inc.,
4.00%, 9/15/41	NR/B+		455		536
AMERIGROUP Corp.,
2.00%, 5/15/12	NR/BB		725		739
Inverness Medical Innovations, Inc.,
3.00%, 5/15/16	NR/B-		412		459
Kinetic Concepts, Inc. (a),
3.25%, 4/15/15	NR/B+		550		621

					2,355

Hotels/Gaming—1.1%
Gaylord Entertainment Co. (a),
3.75%, 10/1/14	NR/NR		525		658
Wyndham Worldwide Corp.,
3.50%, 5/1/12	Ba1/BBB-		300		617

					1,275


	Credit Rating (Moody’s/S&P)	Principal Amount (000s)		Value* (000s)
Internet Software & Services—0.3%
Equinix, Inc.,
2.50%, 4/15/12	NR/B-	$	300	$	321

Materials & Processing—0.5%
Steel Dynamics, Inc.,
5.125%, 6/15/14	NR/BB+		500		618

Multi-Media—0.5%
International Game Technology (a),
3.25%, 5/1/14	Baa2/BBB		275		328
Liberty Media LLC,
3.125%, 3/30/23	B1/BB-		300		320

					648

Oil & Gas—0.3%
Hornbeck Offshore Services, Inc.,
1.625%, 11/15/26 (i)	NR/BB-		400		337

Pharmaceuticals—1.1%
BioMarin Pharmaceutical, Inc.,
1.875%, 4/23/17	NR/B-		600		768
Biovail Corp. (a),
5.375%, 8/1/14	NR/NR		475		615

					1,383

Real Estate Investment Trust—0.9%
Boston Properties L.P.,
3.75%, 5/15/36	NR/A-		500		532
Digital Realty Trust L.P. (a),
5.50%, 4/15/29	NR/NR		445		611

					1,143

Technology—3.6%
CSG Systems International, Inc. (a),
3.00%, 3/1/17	NR/NR		625		659
Maxtor Corp.,
2.375%, 8/15/12	NR/B		450		527
Micron Technology, Inc.,
1.875%, 6/1/14	NR/B-		700		673
NetApp, Inc.,
1.75%, 6/1/13	NR/NR		635		747
Nuance Communications, Inc.,
2.75%, 8/15/27	NR/B-		490		532
Rovi Corp. (a),
2.625%, 2/15/40	NR/NR		650		653
Teradyne, Inc.,
4.50%, 3/15/14	NR/NR		285		619

					4,410

Telecommunications—1.3%
Anixter International, Inc.,
1.00%, 2/15/13	NR/BB-		320		309


	Credit Rating (Moody’s/S&P)	Principal Amount (000s)		Value* (000s)
Qwest Communications International, Inc.,
3.50%, 11/15/25	B1/B+	$	610	$	689
Time Warner Telecom, Inc.,
2.375%, 4/1/26	B3/B-		525		601

					1,599

Total Convertible Bonds (cost—$22,793)					23,760


CONVERTIBLE PREFERRED STOCK—9.6%

	Shares
Advertising—0.6%
Interpublic Group of Cos., Inc., Ser. B,
5.25%, 12/29/49	800	712

Commercial Banks—0.8%
Fifth Third Bancorp, Ser. G,
8.50%, 12/29/49	3,300	449
Wells Fargo & Co., Ser. L,
7.50%, 12/29/49	565	552

		1,001

Commercial Services & Supplies—0.4%
Avery Dennison Corp.,
7.875%, 11/15/20	13,000	516

Consumer Discretionary—0.4%
Stanley Black & Decker, Inc., FRN,
5.125%, 5/17/12	460	452

Consumer Finance—0.5%
SLM Corp., Ser. C,
7.25%, 12/15/10	850	569

Diversified Financial Services—1.2%
Bank of America Corp., Ser. L,
7.25%, 12/29/49	700	682
Citigroup, Inc.,
7.50%, 12/15/12	6,700	817

		1,499

Financial Services—0.0%
Lehman Brothers Holdings, Inc.,
6.00%, 10/12/10 (General Mills, Inc.) (c)(h)(j)	7,700	25
28.00%, 3/6/09 (Transocean Ltd.) (c)(h)(j)	1,350	18

		43

Food Products—0.8%
Archer-Daniels-Midland Co.,
6.25%, 6/1/41	14,400	589


	Shares	Value* (000s)
Bunge Ltd.,
4.875%, 12/29/49	4,050	$	362

			951

Household Durables—0.4%
Newell Financial Trust I,
5.25%, 12/29/49 (Newell Rubbermaid, Inc.) (h)	14,200		552

Insurance—0.8%
Assured Guaranty Ltd.,
8.50%, 6/1/12	6,300		568
XL Capital Ltd.,
10.75%, 8/15/11	14,800		427

			995

Oil & Gas—0.8%
ATP Oil & Gas Corp. (a),
8.00%, 12/29/49	4,700		519
Chesapeake Energy Corp.,
5.00%, 12/29/49	5,100		432

			951

Oil, Gas & Consumable Fuels—0.5%
Whiting Petroleum Corp.,
6.25%, 12/31/49	2,800		554

Pharmaceuticals—1.0%
Merck & Co., Inc.,
6.00%, 8/13/10	2,020		508
Mylan, Inc.,
6.50%, 11/15/10	500		680

			1,188

Real Estate Investment Trust—1.0%
Alexandria Real Estate Equities, Inc., Ser. D,
7.00%, 12/29/49	29,200		665
Simon Property Group, Inc., Ser. I (d),
6.00%, 4/16/10	8,400		597

			1,262

Utilities—0.4%
FPL Group, Inc.,
8.375%, 6/1/12	8,800		444

Total Convertible Preferred Stock (cost—$11,888)			11,689


	Credit Rating (Moody’s/S&P)	Principal Amount (000s)		Value* (000s)
SHORT-TERM INVESTMENTS—9.8%
Convertible Bonds—1.2%
Banking—0.5%
Barclays Bank PLC,
10.00%, 3/15/11 (Teva Pharmaceutical Industries Ltd. ADR) (h)	A1/A+	$	10	$	631

Financial Services—0.7%
Bank of America Corp.,
10.00%, 2/24/11 (Schlumberger Ltd.) (h)	A2/A+		9		532
National City Corp.,
4.00%, 2/1/11	A3/A		290		297

					829

Total Convertible Bonds (cost—$1,456)					1,460

Repurchase Agreement—8.6%
State Street Bank & Trust Co., dated 3/31/10, 0.01%, due 4/1/10, proceeds $10,483; collateralized by U.S. Treasury Notes, 2.375%, due 8/31/14, valued at $10,697 including accrued interest (cost—$10,483)			10,483		10,483

Total Short-Term Investments (cost—$11,939)					11,943

Total Investments before call options written (cost—$120,902)—99.8%					121,234


CALL OPTIONS WRITTEN (f)—(0.1)%

		Contracts
Apple, Inc. (CBOE),
strike price $250, expires 4/17/10			25		(2	)
Cisco Systems, Inc. (CBOE),
strike price $27, expires 4/17/10			210		(2	)
EMC Corp. (CBOE),
strike price $19, expires 4/17/10			305		(2	)
Ford Motor Co. (CBOE),
strike price $14, expires 4/17/10			455		(4	)
Freeport-McMoRan Copper & Gold, Inc. (CBOE),
strike price $90, expires 4/17/10			60		(3	)
General Electric Co. (CBOE),
strike price $20, expires 4/17/10			300		(1	)
Google, Inc. (CBOE),
strike price $600, expires 4/17/10			9		(5	)


	Contracts	Value* (000s)
Intel Corp. (CBOE),
strike price $23, expires 4/17/10	290	$	(8	)
Intuitive Surgical, Inc. (CBOE),
strike price $370, expires 4/17/10	15		(9	)
Joy Global, Inc. (CBOE),
strike price $60, expires 4/17/10	85		(4	)
McKesson Corp. (CBOE),
strike price $70, expires 4/17/10	100		(1	)
Microsoft Corp. (CBOE),
strike price $31, expires 4/17/10	185		(1	)
Occidental Petroleum Corp. (CBOE),
strike price $85, expires 4/17/10	45		(6	)
Oracle Corp. (CBOE),
strike price $28, expires 4/17/10	230		—	(g)
Peabody Energy Corp. (CBOE),
strike price $55, expires 4/17/10	85		(1	)
Prudential PLC (CBOE),
strike price $60, expires 4/17/10	85		(14	)
Target Corp. (CBOE),
strike price $55, expires 4/17/10	65		(1	)
Textron, Inc. (CBOE),
strike price $24, expires 4/17/10	230		(1	)

Total Call Options Written (premiums received—$104)			(65	)

Total Investments net of call options written (cost—$120,798)—99.7%			121,169

Other assets less other liabilities—0.3%			361

Net Assets—100.0%		$	121,530

Notes to Schedule of Investments:

(a)	144A—Exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, typically only to qualified institutional buyers. Unless otherwise indicated, these securities are not considered to be illiquid.

(b)	When-issued or delayed-delivery. To be settled/delivered after March 31, 2010.

(c)	In default.

(d)	Perpetual maturity. Maturity date shown is the first call date.

(e)	All or partial amount segregated as collateral for call options written.

(f)	Non-income producing.

(g)	Amount less than $500.

(h)	Securities exchangeable or convertible into securities of an entity different than the issuer. Such entity is identified in the parenthetical.

(i)	Step Bond—Coupon is a fixed rate for an initial period then resets at a specific date and rate.

(j)	Fair-Valued.

Glossary:

CBOE—Chicago Board Options Exchange

FRN—Floating Rate Note. The interest rate disclosed reflects the rate in effect on March 31, 2010.

NR—Not Rated

VRN—Variable Rate Note. Instruments whose interest rates change on specified date (such as a coupon date or interest payment date) and/or whose interest rates vary with changes in a designated base rate (such as the prime interest rate). The interest rate disclosed reflects the rate in effect on March 31, 2010.


	Shares	Value* (000s)
COMMON STOCK—96.6%
Australia—6.8%
Bendigo and Adelaide Bank Ltd.	51,821	$	475
BHP Billiton Ltd.	55,593		2,230
Commonwealth Bank of Australia	52,060		2,685
CSL Ltd.	11,873		396
Leighton Holdings Ltd.	22,377		799
Rio Tinto Ltd.	19,875		1,428
Virgin Blue Holdings Ltd. (b)	1,284,260		830

			8,843

Austria—1.4%
Erste Group Bank AG	22,545		945
Voestalpine AG	22,751		917

			1,862

Belgium—0.9%
Anheuser-Busch InBev NV	22,589		1,136

China—1.1%
Minth Group Ltd.	244,000		409
Real Gold Mining Ltd. (b)	342,000		511
Skyworth Digital Holdings Ltd.	408,000		476

			1,396

Denmark—0.4%
Novo Nordisk A/S, Class B	6,325		488

Finland—1.3%
Fortum Oyj	26,400		646
Nokia Oyj	68,642		1,070

			1,716

France—9.2%
BNP Paribas	43,949		3,369
Carrefour S.A.	19,985		963
France Telecom S.A.	13,648		327
Natixis (b)	215,503		1,155
Renault S.A. (b)	24,880		1,162
Rhodia S.A. (b)	18,984		392
Sanofi-Aventis S.A.	12,084		902
SEB S.A.	12,710		841
Total S.A.	33,528		1,946
Vallourec S.A.	3,902		787

			11,844

Germany—4.0%
Bilfinger Berger AG	5,137		342
E.ON AG	43,244		1,599
Fresenius Medical Care AG & Co. KGaA	9,134		515
Siemens AG	26,791		2,677

			5,133

Hong Kong—5.1%
BOC Hong Kong Holdings Ltd.	631,000		1,501
Cathay Pacific Airways Ltd. (b)	385,000		809


	Shares	Value* (000s)
Fufeng Group Ltd.	736,000	$	488
Kingboard Laminates Holdings Ltd.	1,199,500		1,050
Lee & Man Paper Manufacturing Ltd.	616,000		481
Orient Overseas International Ltd.	102,000		755
Sun Hung Kai Properties Ltd.	102,000		1,529

			6,613

Israel—1.5%
Teva Pharmaceutical Industries Ltd. ADR	31,800		2,006

Italy—1.0%
Enel SpA	229,771		1,284

Japan—19.6%
Canon, Inc.	21,400		990
Fanuc Ltd.	4,200		446
Fuji Electric Holdings Co., Ltd. (b)	165,000		451
FUJIFILM Holdings Corp.	32,700		1,126
Hitachi Ltd. (b)	336,000		1,250
Honda Motor Co., Ltd.	66,000		2,326
Itochu Corp.	113,000		992
K’s Holdings Corp.	4,240		104
Mitsubishi Corp.	32,300		848
Mitsubishi UFJ Financial Group, Inc.	273,500		1,434
Mitsui & Co., Ltd.	33,000		556
Mitsui Chemicals, Inc.	245,000		743
Nidec Corp.	12,600		1,351
Nikon Corp.	24,000		525
Nintendo Co., Ltd.	1,500		503
Nippon Electric Glass Co., Ltd.	55,000		776
Nissan Motor Co., Ltd. (b)	206,100		1,770
Nisshin Oillio Group Ltd.	116,000		562
Nitto Denko Corp.	21,200		823
Nomura Holdings, Inc.	187,700		1,377
NSK Ltd.	73,000		577
Orix Corp.	5,150		457
Sony Corp.	38,700		1,483
Sumitomo Trust & Banking Co., Ltd.	103,000		605
Tokyo Electric Power Co., Inc.	37,100		990
Tokyo Electron Ltd.	11,700		778
Toyota Motor Corp.	9,300		374
Unicharm Corp.	11,700		1,130

			25,347

Netherlands—3.6%
Aalberts Industries NV	53,302		849
ING Groep NV (b)	140,582		1,393
Koninklijke KPN NV	62,859		997
Koninklijke Philips Electronics NV	29,380		943
QIAGEN NV (b)	19,800		456

			4,638


	Shares	Value* (000s)
Norway—2.3%
DnB NOR ASA (b)	103,700	$	1,186
TGS Nopec Geophysical Co. ASA (b)	54,250		1,154
Yara International ASA	16,000		696

			3,036

Singapore—2.8%
Ho Bee Investment Ltd.	892,000		1,145
Hong Leong Asia Ltd.	356,000		1,153
Jardine Cycle & Carriage Ltd.	23,000		482
United Overseas Bank Ltd.	63,000		863

			3,643

Spain—0.9%
Banco Santander S.A.	36,296		481
Telefonica S.A.	28,551		677

			1,158

Sweden—0.5%
Atlas Copco AB, Class A	41,000		635

Switzerland—10.2%
Credit Suisse Group AG	53,626		2,760
Nestle S.A.	71,665		3,672
Novartis AG	44,288		2,396
Roche Holdings AG	11,822		1,920
Zurich Financial Services AG	9,294		2,384

			13,132

United Kingdom—24.0%
Aggreko PLC	45,676		825
Anglo American PLC (b)	20,922		911
Barclays PLC	343,303		1,869
BG Group PLC	44,201		766
BHP Billiton PLC	13,355		456
BP PLC	326,748		3,093
British American Tobacco PLC	89,125		3,073
BT Group PLC	652,688		1,225
Burberry Group PLC	99,457		1,078
Cookson Group PLC (b)	92,667		768
Eurasian Natural Resources Corp. PLC	58,046		1,049
HSBC Holdings PLC	123,693		1,256
Mondi PLC	136,101		956
Pearson PLC	35,449		556
Petrofac Ltd.	86,710		1,581
Reckitt Benckiser Group PLC	32,749		1,799
Rio Tinto PLC	19,255		1,138
Rolls-Royce Group PLC (b)	120,850		1,094
Royal Dutch Shell PLC, Class B	41,045		1,132
Shire PLC	64,744		1,427
Smith & Nephew PLC	103,370		1,032


	Shares		Value* (000s)
Vodafone Group PLC		1,361,233	$	3,148
Xstrata PLC (b)		42,361		802

				31,034

Total Common Stock (cost—$111,918)				124,944


PREFERRED STOCK—1.7%

Germany—1.7%
Hugo Boss AG		15,300		582
ProSiebenSat.1 Media AG		97,169		1,639

Total Preferred Stock (cost—$1,611)				2,221


	Principal Amount (000s)
Repurchase Agreement—5.7%
State Street Bank & Trust Co., dated 3/31/10, 0.01%, due 4/1/10, proceeds $7,327; collateralized by Federal Home Loan Bank Discount Notes, zero coupon, due 4/9/10, valued at $7,475 (cost—$7,327)	$	7,327		7,327

Total Investments (cost—$120,856) (a)—104.0%				134,492

Liabilities in excess of other assets—(4.0)%				(5,180	)

Net Assets—100.0%			$	129,312

Notes to Schedule of Investments

(amounts in thousands):

(a)	Securities with an aggregate value of $125,159, representing 96.8% of net assets, were valued utilizing modeling tools provided by a third-party vendor.

(b)	Non-income producing.

Glossary:

ADR—American Depositary Receipt


	Shares	Value* (000s)
COMMON STOCK—95.9%
Aerospace & Defense—1.6%
L-3 Communications Holdings, Inc.	1,200	$	110

Airlines—1.6%
Southwest Airlines Co.	8,400		111

Biotechnology—1.9%
Dendreon Corp. (a)	2,100		77
Human Genome Sciences, Inc. (a)	1,700		51

			128

Chemicals—4.3%
Ashland, Inc.	1,800		95
International Flavors & Fragrances, Inc.	2,500		119
Valspar Corp.	1,100		33
WR Grace & Co. (a)	1,600		44

			291

Commercial Services & Supplies—3.9%
Avery Dennison Corp.	3,000		109
Cintas Corp.	1,800		50
RR Donnelley & Sons Co.	5,000		107

			266

Computers & Peripherals—2.0%
Western Digital Corp. (a)	3,600		140

Containers & Packaging—1.0%
Bemis Co., Inc.	2,500		72

Diversified Consumer Services—0.6%
Career Education Corp. (a)	1,300		41

Diversified Financial Services—1.7%
IntercontinentalExchange, Inc. (a)	400		45
MSCI, Inc. (a)	2,000		72

			117

Electrical Equipment—3.1%
Cooper Industries PLC	1,400		67
Hubbell, Inc., Class B	1,000		51
Thomas & Betts Corp. (a)	2,500		98

			216

Electronic Equipment, Instruments & Components—3.3%
Arrow Electronics, Inc. (a)	1,300		39
Itron, Inc. (a)	1,600		116
Tech Data Corp. (a)	1,700		71

			226

Energy Equipment & Services—3.9%
Atwood Oceanics, Inc. (a)	700		24
Ensco International PLC ADR	1,900		85


	Shares	Value* (000s)
Noble Corp. (a)	1,600	$	67
Oil States International, Inc. (a)	2,000		91

			267

Health Care Equipment & Supplies—2.4%
Hologic, Inc. (a)	1,800		34
Hospira, Inc. (a)	2,300		130

			164

Health Care Providers & Services—3.7%
Cardinal Health, Inc.	3,000		108
Coventry Health Care, Inc. (a)	1,300		32
Omnicare, Inc.	4,000		113

			253

Hotels, Restaurants & Leisure—1.5%
Starbucks Corp. (a)	4,100		99

Household Durables—1.4%
Whirlpool Corp.	1,100		96

Industrial Conglomerates—1.6%
Carlisle Cos., Inc.	2,800		107

Insurance—2.0%
Assurant, Inc.	1,800		62
Unum Group	1,600		40
Validus Holdings Ltd.	1,200		33

			135

Internet & Catalog Retail—1.5%
Priceline.com, Inc. (a)	400		102

Internet Software & Services—1.4%
VeriSign, Inc. (a)	3,600		94

IT Services—4.2%
Amdocs Ltd. (a)	3,500		105
Broadridge Financial Solutions, Inc.	3,700		79
Computer Sciences Corp. (a)	1,300		71
NeuStar, Inc., Class A (a)	1,300		33

			288

Leisure Equipment & Products—1.9%
Mattel, Inc.	5,600		127

Machinery—2.1%
Navistar International Corp. (a)	1,100		49
Oshkosh Corp. (a)	2,400		97

			146

Media—7.7%
Discovery Communications, Inc., Class A (a)	2,500		85
DISH Network Corp., Class A	3,800		79


	Shares	Value* (000s)
Gannett Co., Inc.	6,500	$	107
McGraw-Hill Cos., Inc.	3,300		118
Scripps Networks Interactive, Inc., Class A	2,100		93
Washington Post Co., Class B	100		44

			526

Metals & Mining—2.4%
Commercial Metals Co.	2,400		36
Reliance Steel & Aluminum Co.	2,000		99
Steel Dynamics, Inc.	1,600		28

			163

Multiline Retail—2.6%
Big Lots, Inc. (a)	1,300		48
Dollar Tree, Inc. (a)	2,200		130

			178

Oil, Gas & Consumable Fuels—2.7%
EXCO Resources, Inc.	2,100		39
Linn Energy LLC, UNIT	3,300		85
NuStar Energy L.P.	500		30
Peabody Energy Corp.	700		32

			186

Paper & Forest Products—1.2%
International Paper Co.	3,400		84

Pharmaceuticals—2.6%
Forest Laboratories, Inc. (a)	3,100		97
Mylan, Inc. (a)	3,500		80

			177

Real Estate Investment Trust—4.8%
Annaly Capital Management, Inc.	5,500		94
MFA Financial, Inc.	12,900		95
Realty Income Corp.	3,400		104
UDR, Inc.	1,900		34

			327

Semiconductors & Semiconductor Equipment—2.4%
Marvell Technology Group Ltd. (a)	1,900		39
Xilinx, Inc.	4,800		122

			161

Software—7.3%
BMC Software, Inc. (a)	2,800		107
CA, Inc.	5,500		129
Compuware Corp. (a)	9,800		82
Red Hat, Inc. (a)	3,300		97
Rovi Corp. (a)	2,300		85

			500

Specialty Retail—6.7%
Aeropostale, Inc. (a)	4,600		132
AutoNation, Inc. (a)	3,100		56
Bed Bath & Beyond, Inc. (a)	700		31


	Shares		Value* (000s)
Ltd. Brands, Inc.		5,600	$	138
TJX Cos., Inc.		2,400		102

				459

Textiles, Apparel & Luxury Goods—2.9%
Coach, Inc.		1,900		75
Fossil, Inc. (a)		800		30
Hanesbrands, Inc. (a)		3,300		92

				197

Total Common Stock (cost—$5,510)				6,554


	Principal Amount (000s)
Repurchase Agreement—2.9%
State Street Bank & Trust Co., dated 3/31/10, 0.01%, due 4/1/10, proceeds $198; collateralized by Federal Home Loan Bank Discount Notes, zero coupon, due 4/9/10, valued at $205 (cost—$198)	$	198		198

Total Investments (cost—$5,708)—98.8%				6,752

Other assets less liabilities—1.2%				80

Net Assets—100.0%			$	6,832

Notes to Schedule of Investments:

(a)	Non-income producing.

Glossary:

ADR—American Depositary Receipt

UNIT—More than one class of securities traded together.


	Shares	Value* (000s)
COMMON STOCK—97.5%
Australia—20.8%
AMP Ltd.	329,762	$	1,892
Australia & New Zealand Banking Group Ltd.	248,275		5,771
BHP Billiton Ltd.	179,254		7,190
BHP Billiton Ltd. ADR	11,600		932
Boart Longyear Group (b)	2,566,359		787
CSL Ltd.	50,752		1,695
Incitec Pivot Ltd.	1,147,378		3,645
JB Hi-Fi Ltd.	91,195		1,697
Leighton Holdings Ltd.	55,537		1,984
Rio Tinto Ltd.	86,603		6,221
Westpac Banking Corp.	155,708		3,973

			35,787

China—5.2%
Baidu, Inc. ADR (b)	2,300		1,373
China Everbright International Ltd.	3,139,000		1,593
Sinopharm Group Co. (b)	426,000		1,911
Skyworth Digital Holdings Ltd.	1,714,000		2,001
Tencent Holdings Ltd.	105,000		2,103

			8,981

Hong Kong—7.5%
BOC Hong Kong Holdings Ltd.	1,110,500		2,642
Cheung Kong Holdings Ltd.	205,000		2,636
Li & Fung Ltd.	312,000		1,533
MTR Corp.	296,000		1,118
Sun Hung Kai Properties Ltd.	142,000		2,129
Wharf Holdings Ltd.	512,000		2,897

			12,955

India—0.5%
Zee Entertainment Enterprises Ltd.	153,194		916

Japan—51.4%
Canon, Inc.	79,500		3,677
Denki Kagaku Kogyo KK	239,000		1,028
Disco Corp.	36,300		2,237
Fanuc Ltd.	35,400		3,763
Hitachi Construction Machinery Co., Ltd.	86,900		2,057
Honda Motor Co., Ltd.	164,300		5,791
Honda Motor Co., Ltd. ADR	31,000		1,094
JFE Holdings, Inc.	75,300		3,038
Keihin Corp.	95,500		1,846
Komatsu Ltd.	106,600		2,240
Marubeni Corp.	525,000		3,268
Mitsubishi Corp.	87,200		2,290
Mitsubishi UFJ Financial Group, Inc.	861,500		4,516
Mitsui & Co., Ltd.	149,000		2,509
Mitsui Fudosan Co., Ltd.	97,000		1,651


	Shares	Value* (000s)
Mitsui Sumitomo Insurance Group Holdings, Inc.	46,700	$	1,299
Nidec Corp.	42,200		4,525
Nikon Corp.	79,000		1,727
Nintendo Co., Ltd.	5,300		1,777
Nippon Building Fund, Inc., REIT	76		655
Nippon Telegraph & Telephone Corp.	50,200		2,112
Nissan Chemical Industries Ltd.	58,000		812
Nitori Co., Ltd.	25,750		1,955
Nitto Denko Corp.	41,500		1,612
Nomura Holdings, Inc.	571,400		4,193
NSK Ltd.	160,000		1,266
Olympus Corp.	53,000		1,704
Pigeon Corp.	32,000		1,192
Sony Corp.	88,000		3,372
Sony Corp. ADR	24,700		946
Sumco Corp.	42,000		895
Sumitomo Bakelite Co., Ltd.	150,000		861
Sumitomo Corp.	284,500		3,276
Sumitomo Mitsui Financial Group, Inc.	51,800		1,716
Suzuki Motor Corp.	56,800		1,254
Tokai Tokyo Financial Holdings	481,000		2,009
Tokio Marine Holdings, Inc.	27,300		770
Tokyo Electric Power Co., Inc.	65,700		1,752
Toshiba Corp. (b)	406,000		2,101
TS Tech Co., Ltd.	100,900		1,894
Tsuruha Holdings, Inc.	22,500		807
Unicharm Corp.	8,600		830

			88,317

Korea (Republic of)—3.5%
Hyundai Motor Co.	24,594		2,508
Samsung Electronics Co., Ltd.	4,834		3,495

			6,003

Malaysia—1.7%
CIMB Group Holdings Bhd.	683,900		2,946

Singapore—2.7%
DBS Group Holdings Ltd.	364,224		3,714
Singapore Airport Terminal Services Ltd.	454,000		859

			4,573

Taiwan—2.4%
HON HAI Precision Industry Co., Ltd.	452,000		1,957
Taiwan Semiconductor Manufacturing Co., Ltd. ADR	212,300		2,227

			4,184


	Shares		Value* (000s)
United Kingdom—1.8%
HSBC Holdings PLC		55,533	$	564
HSBC Holdings PLC ADR		31,000		1,572
Rio Tinto PLC ADR		4,200		994

				3,130

Total Common Stock (cost—$155,708)				167,792


	Principal Amount (000s)
Repurchase Agreement—3.5%
State Street Bank & Trust Co., dated 3/31/10, 0.01%, due 4/1/10, proceeds $5,986; collateralized by Federal Home Loan Bank Discount Notes, zero coupon, due 4/9/10, valued at $6,110 (cost—$5,986)	$	5,986		5,986

Total Investments (cost—$161,694) (a)—101.0%				173,778

Liabilities in excess of other assets—(1.0)%				(1,748	)

Net Assets—100.0%			$	172,030

Notes to Schedule of Investments

(amounts in thousands):

(a)	Securities with an aggregate value of $158,654, representing 92.2% of net assets, were valued utilizing modeling tools provided by a third-party vendor.

(b)	Non-income producing.

Glossary:

ADR—American Depositary Receipt

REIT—Real Estate Investment Trust


	Shares	Value* (000s)
COMMON STOCK—97.4%
Aerospace & Defense—2.5%
Northrop Grumman Corp.	8,300	$	544

Capital Markets—2.4%
Federated Investors, Inc., Class B	19,100		504

Commercial Services & Supplies—2.6%
RR Donnelley & Sons Co.	25,700		549

Consumer Finance—1.4%
Cash America International, Inc.	7,600		300

Diversified Financial Services—1.3%
Bank of America Corp.	15,200		271

Diversified Telecommunication Services—4.7%
CenturyTel, Inc.	14,000		497
Windstream Corp.	47,600		518

			1,015

Electric Utilities—1.2%
Edison International	7,600		260

Energy Equipment & Services—2.1%
Tidewater, Inc.	9,400		444

Food & Staples Retailing—2.5%
SUPERVALU, Inc.	32,200		537

Food Products—2.6%
Corn Products International, Inc.	15,900		551

Gas Utilities—4.6%
Atmos Energy Corp.	16,600		474
UGI Corp.	19,200		510

			984

Health Care Equipment & Supplies—1.3%
Medtronic, Inc.	6,300		284

Health Care Providers & Services—2.4%
Cardinal Health, Inc.	14,400		519

Household Products—2.4%
Kimberly-Clark Corp.	8,300		522

Industrial Conglomerates—2.6%
3M Co.	6,800		568


	Shares	Value* (000s)
Insurance—9.8%
Allstate Corp.	14,500	$	469
Reinsurance Group of America, Inc.	10,800		567
RenaissanceRe Holdings Ltd.	8,900		505
Unum Group	22,400		555

			2,096

Machinery—2.6%
Crane Co.	16,000		568

Media—2.4%
CBS Corp., Class B	36,300		506

Metals & Mining—4.8%
Reliance Steel & Aluminum Co.	11,400		561
Yamana Gold, Inc.	47,000		463

			1,024

Multi-Utilities—2.6%
Nisource, Inc.	35,800		566

Office Electronics—2.4%
Xerox Corp.	53,600		522

Oil, Gas & Consumable Fuels—17.1%
Apache Corp.	5,600		568
Chevron Corp.	5,800		440
Cimarex Energy Co.	9,800		582
ConocoPhillips	10,600		542
Energy Coal Resources, Inc. (a)(b)(c)	26,000		—
Nexen, Inc.	22,900		566
Royal Dutch Shell PLC ADR, Class A	8,100		469
Total S.A. ADR	8,600		499

			3,666

Pharmaceuticals—6.8%
Biovail Corp.	31,500		528
GlaxoSmithKline PLC ADR	12,200		470
Pfizer, Inc.	27,200		467

			1,465

Real Estate Investment Trust—4.7%
Annaly Capital Management, Inc.	24,600		423
Hospitality Properties Trust	24,900		596

			1,019

Software—2.5%
Microsoft Corp.	18,600		544

Specialty Retail—2.5%
Limited Brands, Inc.	22,000		542

Textiles, Apparel & Luxury Goods—2.6%
V.F. Corp.	7,000		561

Total Common Stock (cost—$20,341)			20,931


	Shares		Value* (000s)
PREFERRED STOCK—0.0%
Oil, Gas & Consumable Fuels—0.0%
Energy Coal Resources, Inc.,
Class A (a)(b)(c) (cost—$97)		4,213	$	—


	Principal Amount (000s)
Repurchase Agreement—1.6%
State Street Bank & Trust Co., dated 3/31/10, 0.01%, due 4/1/10, proceeds $332; collateralized by Federal Home Loan Bank, 4.375%, due 9/17/10, valued at $342 including accrued interest (cost—$332)	$	332		332

Total Investments (cost—$20,770)—99.0%				21,263

Other assets less liabilities—1.0%				223

Net Assets—100.0%			$	21,486

Notes to Schedule of Investments:

(a)	144A—Exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, typically only to qualified institutional buyers. Unless otherwise indicated, these securities are not considered to be illiquid.

(b)	Non-income producing.

(c)	Fair-valued.

Glossary:

ADR—American Depositary Receipt


	Shares	Value* (000s)
COMMON STOCK—98.3%
Aerospace & Defense—4.0%
Lockheed Martin Corp.	1,568,900	$	130,564
Northrop Grumman Corp.	2,056,600		134,851

			265,415

Capital Markets—2.0%
Goldman Sachs Group, Inc.	750,000		127,973

Chemicals—2.1%
Lubrizol Corp.	1,500,000		137,580

Commercial Services & Supplies—3.6%
RR Donnelley & Sons Co.	4,600,000		98,210
Waste Management, Inc.	4,000,000		137,720

			235,930

Communications Equipment—2.2%
Harris Corp.	3,000,000		142,470

Computers & Peripherals—1.9%
International Business Machines Corp.	975,000		125,044

Diversified Telecommunication Services—7.7%
AT&T, Inc.	4,776,100		123,414
CenturyTel, Inc.	3,425,000		121,451
Verizon Communications, Inc.	3,998,500		124,033
Windstream Corp.	12,500,000		136,125

			505,023

Electric Utilities—1.8%
Edison International	3,481,400		118,959

Energy Equipment & Services—4.0%
Diamond Offshore Drilling, Inc.	2,982,300		264,858

Food Products—1.8%
Kraft Foods, Inc., Class A	4,000,000		120,960

Health Care Equipment & Supplies—2.1%
Medtronic, Inc.	3,000,000		135,090

Household Products—1.9%
Kimberly-Clark Corp.	2,000,000		125,760

Industrial Conglomerates—2.0%
3M Co.	1,600,000		133,712

Insurance—6.3%
Allstate Corp.	4,300,000		138,933
MetLife, Inc.	3,139,000		136,044
Travelers Cos., Inc.	2,500,000		134,850

			409,827


	Shares	Value* (000s)
Leisure Equipment & Products—2.1%
Mattel, Inc.	6,000,000	$	136,440

Media—2.0%
McGraw-Hill Cos., Inc.	3,600,000		128,340

Metals & Mining—2.2%
Freeport-McMoRan Copper & Gold, Inc.	1,700,000		142,018

Multi-Utilities—1.7%
Ameren Corp.	4,300,000		112,144

Office Electronics—2.1%
Xerox Corp.	14,000,000		136,500

Oil, Gas & Consumable Fuels—15.4%
Chesapeake Energy Corp.	5,238,500		123,838
Chevron Corp.	1,771,500		134,333
ConocoPhillips	4,912,100		251,352
Marathon Oil Corp.	4,000,000		126,560
Royal Dutch Shell PLC ADR, Class A	2,000,000		115,720
Total S.A. ADR	4,427,500		256,884

			1,008,687

Pharmaceuticals—9.1%
GlaxoSmithKline PLC ADR	6,404,000		246,682
Johnson & Johnson	1,900,000		123,880
Pfizer, Inc.	13,200,000		226,380

			596,942

Real Estate Investment Trust—3.9%
Annaly Capital Management, Inc.	14,932,600		256,542

Semiconductors & Semiconductor Equipment—2.1%
Intel Corp.	6,300,000		140,238

Specialty Retail—2.0%
Home Depot, Inc.	3,968,000		128,365

Textiles, Apparel & Luxury Goods—2.0%
V.F. Corp.	1,664,700		133,426

Thrifts & Mortgage Finance—4.3%
Hudson City Bancorp, Inc.	10,000,000		141,600
New York Community Bancorp, Inc.	8,500,000		140,590

			282,190

Tobacco—6.0%
Altria Group, Inc.	13,000,000		266,760
Reynolds American, Inc.	2,400,000		129,552

			396,312

Total Common Stock (cost—$6,659,880)			6,446,745


	Principal Amount (000s)		Value* (000s)
Repurchase Agreement—1.4%
State Street Bank & Trust Co., dated 3/31/10, 0.01%, due 4/1/10, proceeds $90,545; collateralized by U.S. Treasury Notes, 2.375%, due 8/31/14, valued at $93,232 including accrued interest (cost—$90,545)	$	90,545	$	90,545

Total Investments (cost—$6,750,425)—99.7%				6,537,290

Other assets less liabilities—0.3%				18,158

Net Assets—100.0%			$	6,555,448

Glossary:

ADR—American Depositary Receipt


	Shares	Value* (000s)
COMMON STOCK—94.8%
Australia—5.7%
Amcor Ltd. ADR	1,335,600	$	31,253
Australia & New Zealand Banking Group Ltd. ADR	1,300,000		30,082
Telstra Corp. Ltd. ADR	2,000,000		27,500

			88,835

Belgium—2.6%
Delhaize Group S.A. ADR	500,000		40,245

Bermuda—5.3%
Accenture PLC, Class A	350,000		14,683
Axis Capital Holdings Ltd.	900,000		28,134
RenaissanceRe Holdings Ltd.	700,000		39,732

			82,549

Brazil—8.4%
Cia de Saneamento Basico do Estado de Sao Paulo ADR	1,436,700		52,871
Cia Paranaense de Energia ADR, Class P	2,125,000		43,520
Petroleo Brasileiro S.A. ADR	750,000		33,367

			129,758

Canada—10.1%
Agrium, Inc.	400,000		28,252
Nexen, Inc.	1,400,000		34,594
Toronto-Dominion Bank	400,000		29,832
TransCanada Corp.	800,000		29,408
Yamana Gold, Inc.	3,500,000		34,475

			156,561

Colombia—1.8%
BanColombia S.A. ADR	600,000		27,396

Finland—1.0%
Nokia Oyj ADR	1,000,000		15,540

France—7.7%
AXA S.A. ADR	2,025,000		44,631
France Telecom S.A. ADR	1,925,600		46,272
Technip S.A. ADR	350,000		28,490

			119,393

Germany—2.9%
SAP AG ADR	276,100		13,300
Siemens AG ADR	325,000		32,490

			45,790

Ireland—3.7%
Covidien PLC	600,000		30,168
CRH PLC ADR	1,121,000		27,902

			58,070

Israel—1.2%
Teva Pharmaceutical Industries Ltd. ADR	300,000		18,924


	Shares	Value* (000s)
Japan—2.9%
Fujitsu Ltd. ADR	430,400	$	14,044
Mitsui & Co., Ltd. ADR	92,000		30,885

			44,929

Korea (Republic of)—3.9%
POSCO ADR	250,000		29,252
SK Telecom Co., Ltd. ADR	1,800,000		31,068

			60,320

Mexico—3.0%
Coca-Cola Femsa SAB De C.V. ADR	700,000		46,515

Netherlands—3.0%
Royal Dutch Shell PLC ADR, Class A	800,000		46,288

Norway—2.9%
Statoil ASA ADR	1,900,000		44,327

Panama—1.0%
Copa Holdings S.A., Class A	262,600		15,966

South Africa—3.2%
Sasol Ltd. ADR	1,200,000		49,524

Spain—1.8%
Banco Bilbao Vizcaya Argentaria S.A. ADR	2,100,000		28,749

Taiwan—0.8%
Siliconware Precision Industries Co. ADR	2,100,000		12,621

Turkey—1.0%
Turkcell Iletisim Hizmet AS ADR	1,050,000		15,813

United Kingdom—20.9%
AstraZeneca PLC ADR	900,000		40,248
BAE Systems PLC ADR	1,305,100		29,286
British American Tobacco PLC ADR	450,000		31,005
Compass Group PLC ADR	3,814,400		30,325
Diageo PLC ADR	400,000		26,980
GlaxoSmithKline PLC ADR	1,200,000		46,224
International Power PLC ADR	287,700		13,991
Marks & Spencer Group PLC ADR	1,100,000		12,320
Pearson PLC ADR	2,900,000		45,501
Prudential PLC ADR	1,395,000		23,129
Unilever PLC ADR	900,000		26,352

			325,361

Total Common Stock (cost—$1,327,163)			1,473,474


	Principal Amount (000s)		Value* (000s)
Repurchase Agreement—4.5%
State Street Bank & Trust Co., dated 3/31/10, 0.01%, due 4/1/10, proceeds $69,411; collateralized by U.S. Treasury Bills, 0.172%, due 7/15/10, valued at $70,964 including accrued interest (cost—$69,411)	$	69,411	$	69,411

Total Investments (cost—$1,396,574)—99.3%				1,542,885

Other assets less liabilities—0.7%				10,761

Net Assets—100.0%			$	1,553,646

Glossary:

ADR—American Depositary Receipt


	Shares	Value* (000s)
COMMON STOCK—98.9%
Aerospace & Defense—3.1%
Northrop Grumman Corp.	599,600	$	39,316

Air Freight & Logistics—1.1%
FedEx Corp.	153,600		14,346

Auto Components—1.2%
Johnson Controls, Inc.	450,800		14,872

Beverages—0.9%
Molson Coors Brewing Co., Class B	256,200		10,776

Capital Markets—2.9%
Goldman Sachs Group, Inc.	72,000		12,285
Morgan Stanley	379,500		11,116
State Street Corp.	300,600		13,569

			36,970

Chemicals—1.0%
PPG Industries, Inc.	198,000		12,949

Computers & Peripherals—3.0%
Hewlett-Packard Co.	250,800		13,330
International Business Machines Corp.	194,000		24,880

			38,210

Diversified Financial Services—3.2%
Bank of America Corp.	726,700		12,971
JPMorgan Chase & Co.	612,600		27,414

			40,385

Diversified Telecommunication Services—6.5%
AT&T, Inc.	1,271,700		32,861
CenturyTel, Inc.	674,400		23,914
Verizon Communications, Inc.	825,700		25,613

			82,388

Electric Utilities—2.7%
Edison International	1,003,900		34,303

Electrical Equipment—1.0%
Emerson Electric Co.	255,400		12,857

Energy Equipment & Services—3.5%
Diamond Offshore Drilling, Inc.	366,200		32,522
Halliburton Co.	410,000		12,354

			44,876

Food & Staples Retailing—4.2%
CVS Caremark Corp.	736,800		26,938
Safeway, Inc.	1,053,100		26,180

			53,118

Food Products—2.0%
ConAgra Foods, Inc.	1,004,600		25,185


	Shares	Value* (000s)
Health Care Equipment & Supplies—1.0%
Medtronic, Inc.	283,100	$	12,748

Health Care Providers & Services—3.2%
Cardinal Health, Inc.	705,200		25,409
CIGNA Corp.	416,600		15,239

			40,648

Hotels, Restaurants & Leisure—1.1%
McDonald’s Corp.	207,000		13,811

Household Durables—1.1%
Fortune Brands, Inc.	275,200		13,350

Household Products—2.0%
Kimberly-Clark Corp.	400,400		25,177

Industrial Conglomerates—1.0%
3M Co.	148,200		12,385

Insurance—10.4%
Allstate Corp.	759,900		24,552
Loews Corp.	345,300		12,873
Marsh & McLennan Cos., Inc.	511,400		12,488
MetLife, Inc.	637,100		27,612
Prudential Financial, Inc.	474,300		28,695
Travelers Cos., Inc.	466,600		25,169

			131,389

Media—4.0%
CBS Corp., Class B	870,700		12,137
Time Warner, Inc.	1,242,233		38,845

			50,982

Metals & Mining—2.0%
Freeport-McMoRan Copper & Gold, Inc.	150,900		12,606
Nucor Corp.	271,500		12,321

			24,927

Multi-Utilities—1.2%
Dominion Resources, Inc.	365,000		15,005

Office Electronics—2.1%
Xerox Corp.	2,665,800		25,992

Oil, Gas & Consumable Fuels—14.7%
Apache Corp.	347,900		35,312
Chesapeake Energy Corp.	949,800		22,453
Chevron Corp.	605,600		45,923
ConocoPhillips	686,200		35,113
Marathon Oil Corp.	1,083,700		34,288
Valero Energy Corp.	673,200		13,262

			186,351


	Shares	Value* (000s)
Pharmaceuticals—8.8%
Eli Lilly & Co.	699,400	$	25,332
Johnson & Johnson	384,900		25,096
Merck & Co., Inc.	693,600		25,906
Pfizer, Inc.	2,027,400		34,770

			111,104

Real Estate Investment Trust—3.7%
Annaly Capital Management, Inc.	1,924,600		33,065
Simon Property Group, Inc.	168,988		14,178

			47,243

Software—2.0%
Microsoft Corp.	865,600		25,336

Specialty Retail—2.3%
Gap, Inc.	623,200		14,402
Home Depot, Inc.	456,300		14,761

			29,163

Tobacco—2.0%
Altria Group, Inc.	1,205,400		24,735

Total Common Stock (cost—$1,200,372)			1,250,897


	Principal Amount (000s)
Repurchase Agreement—0.9%
State Street Bank & Trust Co., dated 3/31/10, 0.01%, due 4/1/10, proceeds $11,868; collateralized by Fannie Mae, 1.722%, due 5/10/11, valued at $4,922 including accrued interest and Federal Home Loan Bank, 0.70%, due 4/18/11, valued at $7,185 including accrued interest (cost—$11,868)	$	11,868		11,868

Total Investments (cost—$1,212,240)—99.8%				1,262,765

Other assets less liabilities—0.2%				2,591

Net Assets—100.0%			$	1,265,356


	Shares	Value* (000s)
COMMON STOCK—95.5%
Aerospace & Defense—2.3%
L-3 Communications Holdings, Inc.	2,800	$	257

Automobiles—1.1%
Harley-Davidson, Inc.	4,400		123

Capital Markets—2.3%
Federated Investors, Inc., Class B	9,800		259

Commercial Services & Supplies—4.6%
Avery Dennison Corp.	7,100		259
RR Donnelley & Sons Co.	12,100		258

			517

Construction & Engineering—2.1%
Fluor Corp.	5,100		237

Containers & Packaging—2.4%
Sonoco Products Co.	8,800		271

Diversified Telecommunication Services—4.6%
CenturyTel, Inc.	7,300		259
Windstream Corp.	23,400		255

			514

Electric Utilities—2.2%
Edison International	7,300		249

Electronic Equipment, Instruments & Components—2.2%
Jabil Circuit, Inc.	15,200		246

Energy Equipment & Services—2.4%
Tidewater, Inc.	5,600		265

Food & Staples Retailing—2.3%
SUPERVALU, Inc.	15,200		254

Food Products—4.9%
ConAgra Foods, Inc.	10,100		253
Corn Products International, Inc.	8,400		291

			544

Gas Utilities—4.7%
AGL Resources, Inc.	7,200		278
Atmos Energy Corp.	8,800		252

			530

Health Care Providers & Services—2.4%
McKesson Corp.	4,100		269

Household Durables—2.6%
Garmin Ltd.	7,700		296


	Shares	Value* (000s)
Insurance—10.3%
Mercury General Corp.	6,700	$	293
Reinsurance Group of America, Inc.	5,500		289
RenaissanceRe Holdings Ltd.	4,700		267
Unum Group	12,200		302

			1,151

Leisure Equipment & Products—2.5%
Mattel, Inc.	12,100		275

Machinery—1.3%
Parker Hannifin Corp.	2,250		146

Metals & Mining—4.8%
Reliance Steel & Aluminum Co.	5,900		291
Yamana Gold, Inc.	24,600		242

			533

Multi-Utilities—4.7%
Nisource, Inc.	16,600		262
SCANA Corp.	7,000		263

			525

Office Electronics—2.5%
Xerox Corp.	28,200		275

Oil, Gas & Consumable Fuels—7.3%
Cimarex Energy Co.	4,700		279
Nexen, Inc.	10,400		257
Southern Union Co.	11,300		287

			823

Pharmaceuticals—2.3%
Biovail Corp.	15,600		262

Real Estate Investment Trust—6.9%
Annaly Capital Management, Inc.	14,600		251
Duke Realty Corp.	20,700		257
Hospitality Properties Trust	11,000		263

			771

Specialty Retail—4.9%
Limited Brands, Inc.	11,400		281
RadioShack Corp.	12,000		271

			552

Textiles, Apparel & Luxury Goods—2.4%
V.F. Corp.	3,300		264

Tobacco—2.5%
Reynolds American, Inc.	5,100		275

Total Common Stock (cost—$9,448)			10,683


	Shares	Value* (000s)
COMMON STOCK—98.6%
Aerospace & Defense—4.5%
Elbit Systems Ltd.	128,000	$	8,193
Goodrich Corp.	140,900		9,936
L-3 Communications Holdings, Inc.	102,200		9,365
Rockwell Collins, Inc.	159,700		9,996

			37,490

Airlines—1.2%
Copa Holdings S.A., Class A	158,100		9,612

Beverages—3.2%
Brown-Forman Corp., Class B	148,400		8,822
Coca-Cola Enterprises, Inc.	377,700		10,447
Molson Coors Brewing Co., Class B	167,300		7,037

			26,306

Capital Markets—1.0%
Federated Investors, Inc., Class B	299,600		7,903

Chemicals—5.3%
Agrium, Inc.	129,800		9,168
CF Industries Holdings, Inc.	87,900		8,015
FMC Corp.	145,900		8,833
Lubrizol Corp.	95,000		8,713
Terra Industries, Inc.	196,500		8,992

			43,721

Commercial Services & Supplies—3.0%
Cintas Corp.	264,700		7,436
Pitney Bowes, Inc.	323,200		7,902
Waste Management, Inc.	266,900		9,189

			24,527

Communications Equipment—1.1%
Harris Corp.	187,800		8,919

Construction & Engineering—1.7%
Fluor Corp.	137,000		6,372
KBR, Inc.	344,700		7,638

			14,010

Containers & Packaging—2.2%
Ball Corp.	166,700		8,899
Silgan Holdings, Inc.	154,000		9,275

			18,174

Distributors—1.0%
Genuine Parts, Co.	198,400		8,380

Diversified Consumer Services—1.7%
H&R Block, Inc.	365,100		6,499
Weight Watchers International, Inc.	288,700		7,370

			13,869


	Shares	Value* (000s)
Diversified Telecommunication Services—1.0%
CenturyTel, Inc.	240,667	$	8,534

Electric Utilities—3.0%
American Electric Power Co., Inc.	230,000		7,862
DPL, Inc.	301,000		8,184
Edison International	245,600		8,392

			24,438

Energy Equipment & Services—3.7%
Diamond Offshore Drilling, Inc.	81,900		7,273
Ensco International PLC ADR	173,000		7,747
Noble Corp. (a)	197,000		8,239
Tidewater, Inc.	149,500		7,067

			30,326

Food & Staples Retailing—1.1%
Safeway, Inc.	356,500		8,863

Food Products—6.4%
Campbell Soup Co.	259,700		9,180
ConAgra Foods, Inc.	348,600		8,739
Hershey Co.	206,800		8,853
JM Smucker Co.	141,500		8,527
McCormick & Co., Inc.	243,300		9,333
Sara Lee Corp.	582,900		8,120

			52,752

Gas Utilities—2.0%
Energen Corp.	181,400		8,441
Oneok, Inc.	186,200		8,500

			16,941

Health Care Equipment & Supplies—1.0%
Smith & Nephew PLC ADR	172,800		8,650

Health Care Providers & Services—4.3%
AmerisourceBergen Corp.	288,400		8,341
CIGNA Corp.	216,600		7,923
Fresenius Medical Care AG & Co. KGaA	174,900		9,822
McKesson Corp.	141,300		9,286

			35,372

Hotels, Restaurants & Leisure—1.1%
Darden Restaurants, Inc.	198,900		8,859

Household Products—1.1%
Clorox Co.	140,300		8,999

Independent Power Producers & Energy Traders—1.1%
Constellation Energy Group, Inc.	247,700		8,697

Industrial Conglomerates—1.0%
Tyco International Ltd.	218,800		8,369


	Shares	Value* (000s)
Insurance—7.4%
AON Corp.	197,100	$	8,418
Axis Capital Holdings Ltd.	273,400		8,546
HCC Insurance Holdings, Inc.	299,200		8,258
Loews Corp.	242,100		9,026
Reinsurance Group of America, Inc.	179,600		9,433
Unum Group	346,900		8,593
Willis Group Holdings PLC	269,300		8,426

			60,700

IT Services—1.9%
Broadridge Financial Solutions, Inc.	351,200		7,509
Total System Services, Inc.	522,500		8,182

			15,691

Leisure Equipment & Products—1.0%
Hasbro, Inc.	218,700		8,372

Machinery—1.0%
Flowserve Corp.	77,300		8,524

Media—3.1%
McGraw-Hill Cos., Inc.	224,600		8,007
Omnicom Group, Inc.	217,500		8,441
Pearson PLC ADR	569,500		8,936

			25,384

Metals & Mining—3.0%
Compass Minerals International, Inc.	118,700		9,523
Kinross Gold Corp.	408,500		6,981
Yamana Gold, Inc.	833,500		8,210

			24,714

Multiline Retail—1.0%
Family Dollar Stores, Inc.	231,600		8,479

Multi-Utilities—4.9%
Alliant Energy Corp.	253,100		8,418
Ameren Corp.	292,400		7,626
Centerpoint Energy, Inc.	592,100		8,503
CMS Energy Corp.	545,800		8,438
Sempra Energy	157,500		7,859

			40,844

Oil, Gas & Consumable Fuels—9.8%
El Paso Corp.	734,200		7,959
Enbridge Energy Partners L.P.	152,900		7,732
Energy Transfer Partners L.P.	174,500		8,177
Enterprise Products Partners L.P.	280,000		9,682
EXCO Resources, Inc.	402,600		7,400
Linn Energy LLC, UNIT	303,300		7,801
Murphy Oil Corp.	130,900		7,355
Nexen, Inc.	357,500		8,834
ONEOK Partners L.P.	126,300		7,738
Plains All American Pipeline L.P.	145,500		8,279

			80,957


	Shares		Value* (000s)
Real Estate Investment Trust—4.0%
Chimera Investment Corp.		1,943,900	$	7,562
HCP, Inc.		273,400		9,022
Liberty Property Trust		236,700		8,034
Plum Creek Timber Co., Inc.		212,700		8,276

				32,894

Road & Rail—2.4%
Canadian Pacific Railway Ltd.		177,500		9,983
CSX Corp.		196,900		10,022

				20,005

Software—1.0%
CA, Inc.		345,400		8,106

Specialty Retail—1.1%
TJX Cos., Inc.		205,000		8,717

Textiles, Apparel & Luxury Goods—1.1%
V.F. Corp.		112,100		8,985

Tobacco—2.1%
Lorillard, Inc.		113,900		8,570
Reynolds American, Inc.		161,200		8,701

				17,271

Water Utilities—1.1%
American Water Works Co., Inc.		416,900		9,072

Total Common Stock (cost—$661,872)				812,426


	Principal Amount (000s)
Repurchase Agreement—0.9%
State Street Bank & Trust Co., dated 3/31/10, 0.01%, due 4/1/10, proceeds $7,677; collateralized by U.S. Treasury Notes, 1.25%, due 11/30/10, valued at $8,080 including accrued interest (cost—$7,677)	$	7,677		7,677

Total Investments (cost—$669,549)—99.5%				820,103

Other assets less liabilities—0.5%				4,405

Net Assets—100.0%			$	824,508

Notes to Schedule of Investments:

(a)	Non-income producing.

Glossary:

ADR—American Depositary Receipt

UNIT—More than one class of securities traded together.


	Shares	Value* (000s)
COMMON STOCK—93.9%
Aerospace & Defense—2.1%
Cubic Corp.	405,901	$	14,612
Curtiss-Wright Corp.	1,730,300		60,215
Elbit Systems Ltd.	171,600		10,984
Triumph Group, Inc.	770,800		54,025

			139,836

Airlines—0.5%
Skywest, Inc.	2,089,800		29,842

Beverages—0.6%
Embotelladora Andina S.A. ADR, Class B	1,805,700		36,872

Capital Markets—1.7%
Federated Investors, Inc., Class B	2,507,000		66,134
Raymond James Financial, Inc.	1,729,500		46,247

			112,381

Chemicals—7.2%
Innophos Holdings, Inc.	907,800		25,328
International Flavors & Fragrances, Inc.	1,682,500		80,205
Lubrizol Corp.	1,023,200		93,848
Methanex Corp.	1,923,200		46,753
RPM International, Inc.	3,676,600		78,459
Sensient Technologies Corp.	2,154,700		62,615
Terra Industries, Inc.	1,903,400		87,099

			474,307

Commercial Banks—2.1%
Bank of Hawaii Corp.	1,498,900		67,376
Cullen/Frost Bankers, Inc.	1,263,100		70,481

			137,857

Commercial Services & Supplies—1.0%
Brink’s Co.	1,955,600		55,207
Ennis, Inc.	273,300		4,446
US Ecology, Inc.	537,400		8,652

			68,305

Computers & Peripherals—1.0%
Diebold, Inc.	2,042,800		64,879

Construction & Engineering—1.1%
KBR, Inc.	3,311,900		73,392

Consumer Finance—1.2%
Advance America Cash Advance Centers, Inc.	2,230,900		12,984
Cash America International, Inc. (a)	1,602,300		63,259

			76,243

Containers & Packaging—2.1%
Bemis Co., Inc.	2,368,600		68,026
Sonoco Products Co.	2,319,300		71,411

			139,437


	Shares	Value* (000s)
Diversified Consumer Services—0.4%
Hillenbrand, Inc.	1,226,600	$	26,973

Electric Utilities—2.0%
Cleco Corp.	2,373,500		63,017
Westar Energy, Inc.	3,174,000		70,780

			133,797

Electrical Equipment—1.9%
Acuity Brands, Inc.	1,734,000		73,192
Belden, Inc.	1,881,400		51,663

			124,855

Electronic Equipment, Instruments & Components—1.3%
Jabil Circuit, Inc.	4,733,700		76,639
MTS Systems Corp.	290,800		8,442

			85,081

Energy Equipment & Services—1.0%
Tidewater, Inc.	1,352,200		63,918

Food & Staples Retailing—2.2%
Casey’s General Stores, Inc.	2,148,800		67,472
Ruddick Corp.	2,103,900		66,568
Weis Markets, Inc.	249,200		9,061

			143,101

Food Products—4.0%
Cal-Maine Foods, Inc. (a)	1,123,200		38,065
Corn Products International, Inc.	2,231,300		77,337
Del Monte Foods Co.	6,324,600		92,339
JM Smucker Co.	898,700		54,156

			261,897

Gas Utilities—7.4%
AGL Resources, Inc.	1,768,400		68,349
Amerigas Partners L.P.	324,400		13,025
Atmos Energy Corp.	2,174,000		62,111
Energen Corp.	1,469,000		68,352
National Fuel Gas Co.	1,549,700		78,337
Southwest Gas Corp.	1,379,000		41,260
Suburban Propane Partners L.P.	683,600		32,464
UGI Corp.	2,400,200		63,701
WGL Holdings, Inc.	1,724,700		59,761

			487,360

Health Care Equipment & Supplies—5.5%
Cooper Cos., Inc.	2,097,800		81,562
Hill-Rom Holdings, Inc.	1,056,600		28,750
Invacare Corp.	1,383,000		36,705
STERIS Corp.	2,157,900		72,635
Teleflex, Inc.	1,251,500		80,184
West Pharmaceutical Services, Inc.	1,381,700		57,962

			357,798

Health Care Providers & Services—1.1%
Owens & Minor, Inc.	1,563,600		72,535


	Shares	Value* (000s)
Hotels, Restaurants & Leisure—0.7%
Dover Downs Gaming & Entertainment, Inc.	660,600	$	2,616
International Speedway Corp., Class A (a)	1,595,700		41,121

			43,737

Household Products—0.1%
WD-40 Co.	261,500		8,585

Industrial Conglomerates—0.1%
Tomkins PLC ADR	447,300		6,370

Insurance—3.5%
American Equity Investment Life Holding Co.	1,613,300		17,182
American Financial Group, Inc.	2,748,000		78,181
American Physicians Capital, Inc. (a)	496,933		15,877
Delphi Financial Group, Inc., Class A	2,266,000		57,012
Infinity Property & Casualty Corp.	370,500		16,835
RLI Corp.	722,200		41,180

			226,267

Internet & Catalog Retail—0.3%
PetMed Express, Inc.	1,009,600		22,383

Leisure Equipment & Products—0.2%
Sturm Ruger & Co., Inc. (a)	1,145,600		13,736

Life Sciences Tools & Services—1.2%
PerkinElmer, Inc.	3,288,772		78,602

Machinery—5.3%
Barnes Group, Inc.	2,231,500		43,403
Bucyrus International, Inc.	1,410,300		93,066
Crane Co.	2,091,600		74,252
Harsco Corp.	2,033,000		64,934
Valmont Industries, Inc.	863,600		71,532

			347,187

Metals & Mining—4.2%
AMCOL International Corp.	830,900		22,600
Commercial Metals Co.	916,071		13,796
Compass Minerals International, Inc.	1,190,200		95,490
Iamgold Corp.	4,600,300		60,816
Royal Gold, Inc.	1,710,055		79,022

			271,724

Multi-Utilities—2.6%
Avista Corp.	1,643,300		34,033
OGE Energy Corp.	2,039,500		79,418
Vectren Corp.	2,220,100		54,881

			168,332


	Shares	Value* (000s)
Oil, Gas & Consumable Fuels—13.0%
Alliance Resource Partners L.P.	279,200	$	11,701
Berry Petroleum Co., Class A	2,070,700		58,311
Buckeye Partners L.P.	975,700		58,610
Cimarex Energy Co.	1,536,900		91,261
El Paso Pipeline Partners L.P.	986,600		27,516
Frontier Oil Corp.	3,573,000		48,236
Frontline Ltd.	1,778,800		54,485
Holly Corp.	2,477,600		69,150
Linn Energy LLC, UNIT	3,057,600		78,642
Magellan Midstream Partners L.P.	1,450,900		68,961
NuStar Energy L.P.	955,600		57,766
Southern Union Co.	2,843,300		72,135
Sunoco Logistics Partners L.P.	325,600		22,304
TC Pipelines L.P.	356,400		13,550
Transmontaigne Partners L.P.	8,500		230
Tsakos Energy Navigation Ltd.	1,133,200		16,703
Williams Partners L.P.	741,100		29,814
World Fuel Services Corp.	2,581,000		68,758

			848,133

Real Estate Investment Trust—6.0%
Chimera Investment Corp.	16,403,500		63,810
CreXus Investment Corp.	837,800		11,202
Equity One, Inc.	2,010,800		37,984
Franklin Street Properties Corp.	3,083,100		44,489
Healthcare Realty Trust, Inc.	2,413,100		56,201
HRPT Properties Trust	4,717,000		36,698
Nationwide Health Properties, Inc.	1,935,000		68,015
PS Business Parks, Inc.	733,900		39,190
Sovran Self Storage, Inc.	971,000		33,849

			391,438

Semiconductors & Semiconductor Equipment—0.1%
Himax Technologies, Inc. ADR	2,103,100		6,583

Specialty Retail—3.3%
Aaron’s, Inc. (a)	2,374,600		79,169
Buckle, Inc.	2,235,800		82,188
RadioShack Corp.	2,298,800		52,022

			213,379

Textiles, Apparel & Luxury Goods—2.7%
Phillips-Van Heusen Corp.	1,639,500		94,042
Unifirst Corp.	296,800		15,285
Wolverine World Wide, Inc.	2,371,900		69,165

			178,492

Tobacco—1.4%
Universal Corp. (a)	1,294,500		68,207
Vector Group Ltd.	1,421,805		21,939

			90,146


	Shares		Value* (000s)
Trading Companies & Distributors—0.6%
Applied Industrial Tech, Inc.		1,692,100	$	42,049

Water Utilities—1.0%
American Water Works Co., Inc.		3,146,300		68,463

Wireless Telecommunication Services—0.2%
Partner Communications Co., Ltd. ADR		499,700		11,288

Total Common Stock (cost—$4,752,000)				6,147,560


MUTUAL FUND—1.0%

Central Fund of Canada Ltd., Class A (cost—$53,403)		4,451,300		62,318


	Principal Amount (000s)
Repurchase Agreement—4.7%
State Street Bank & Trust Co., dated 3/31/10, 0.01%, due 4/1/10, proceeds $310,321; collateralized by Freddie Mac, 2.25%—5.05%, due 8/24/12— 1/26/15, valued at $110,918 including accrued interest and U.S. Treasury Notes, 1.375%— 2.375%, due 2/15/13—8/31/14, valued at $205,612 including accrued interest (cost—$310,321)	$	310,321		310,321

Total Investments (cost—$5,115,724)—99.6%				6,520,199

Other assets less liabilities—0.4%				28,328

Net Assets—100.0%			$	6,548,527

Notes to Schedule of Investments:

(a)	Affiliated security.

Glossary:

ADR—American Depositary Receipt

UNIT—More than one class of securities traded together.


	Shares	Value* (000s)
COMMON STOCK—98.3%
Aerospace & Defense—4.4%
Precision Castparts Corp.	95,000	$	12,038
United Technologies Corp.	271,000		19,948

			31,986

Air Freight & Logistics—1.0%
FedEx Corp.	76,421		7,138

Auto Components—1.0%
Lear Corp. (a)	90,000		7,141

Beverages—2.0%
PepsiCo, Inc.	217,890		14,416

Biotechnology—5.2%
Celgene Corp. (a)	261,840		16,223
Gilead Sciences, Inc. (a)	470,200		21,385

			37,608

Capital Markets—1.7%
Ameriprise Financial, Inc.	277,860		12,604

Chemicals—1.0%
Monsanto Co.	103,380		7,383

Communications Equipment—3.8%
QUALCOMM, Inc.	463,720		19,472
Research In Motion Ltd. (a)	104,750		7,746

			27,218

Computers & Peripherals—9.1%
Apple, Inc. (a)	143,800		33,783
EMC Corp. (a)	968,200		17,466
Hewlett-Packard Co.	271,000		14,404

			65,653

Construction & Engineering—1.5%
Fluor Corp.	232,000		10,790

Containers & Packaging—1.7%
Owens-Illinois, Inc. (a)	350,000		12,439

Diversified Financial Services—2.7%
Bank of America Corp.	548,280		9,787
JPMorgan Chase & Co.	214,720		9,608

			19,395

Energy Equipment & Services—1.0%
Baker Hughes, Inc.	159,430		7,468

Food Products—4.4%
General Mills, Inc.	95,000		6,725
Kraft Foods, Inc., Class A	582,160		17,605
Mead Johnson Nutrition Co., Class A	150,000		7,804

			32,134


	Shares	Value* (000s)
Health Care Equipment & Supplies—1.8%
St. Jude Medical, Inc. (a)	325,720	$	13,371

Health Care Providers & Services—4.8%
CIGNA Corp.	453,550		16,591
Express Scripts, Inc. (a)	175,010		17,809

			34,400

Hotels, Restaurants & Leisure—1.7%
McDonald’s Corp.	185,250		12,360

Insurance—3.1%
Genworth Financial, Inc., Class A (a)	413,300		7,580
Prudential Financial, Inc.	251,000		15,185

			22,765

Internet & Catalog Retail—0.9%
Amazon.com, Inc. (a)	47,550		6,454

Internet Software & Services—3.6%
Google, Inc., Class A (a)	46,510		26,372

IT Services—3.3%
Visa, Inc., Class A	259,250		23,600

Machinery—1.0%
Joy Global, Inc.	123,690		7,001

Media—1.7%
Walt Disney Co.	350,000		12,218

Metals & Mining—2.1%
Cliffs Natural Resources, Inc.	208,940		14,824

Multiline Retail—0.9%
Kohl’s Corp. (a)	118,350		6,483

Oil, Gas & Consumable Fuels—3.2%
Exxon Mobil Corp.	114,800		7,689
PetroHawk Energy Corp. (a)	393,830		7,987
Ultra Petroleum Corp. (a)	165,000		7,694

			23,370

Personal Products—2.8%
Avon Products, Inc.	257,020		8,705
Estee Lauder Cos., Inc., Class A	172,400		11,184

			19,889

Pharmaceuticals—6.4%
Abbott Laboratories	314,050		16,544
Merck & Co., Inc.	433,155		16,178
Teva Pharmaceutical Industries Ltd. ADR	216,720		13,671

			46,393


	Shares		Value* (000s)
Road & Rail—2.0%
Union Pacific Corp.		195,143	$	14,304

Semiconductors & Semiconductor Equipment—8.6%
Broadcom Corp., Class A		295,000		9,788
Intel Corp.		1,268,270		28,232
Lam Research Corp. (a)		223,100		8,326
Texas Instruments, Inc.		645,000		15,783

				62,129

Software—4.3%
Microsoft Corp.		794,000		23,240
Oracle Corp.		298,310		7,664

				30,904

Specialty Retail—4.4%
Gap, Inc.		600,000		13,866
Home Depot, Inc.		295,000		9,543
TJX Cos., Inc.		201,410		8,564

				31,973

Wireless Telecommunication Services—1.2%
American Tower Corp., Class A (a)		208,300		8,876

Total Common Stock (cost—$604,505)				711,059


	Units
WARRANTS—1.3%

Diversified Financial Services—1.3%
Bank of America Corp., expires 1/16/19 (a) (cost—$8,350)		1,000,000		9,510


	Principal Amount (000s)
Repurchase Agreement—0.1%
State Street Bank & Trust Co., dated 3/31/10, 0.01%, due 4/1/10, proceeds $757; collateralized by Federal Home Loan Bank Discount Notes, zero coupon, due 4/23/10, valued at $775 (cost—$757)	$	757		757

Total Investments (cost—$613,612)—99.7%				721,326

Other assets less liabilities—0.3%				2,154

Net Assets—100.0%			$	723,480


	Shares	Value* (000s)
COMMON STOCK—98.5%
Aerospace & Defense—3.8%
AerCap Holdings NV (a)	625,086	$	7,201
Aerovironment, Inc. (a)	134,897		3,522

			10,723

Air Freight & Logistics—1.5%
Atlas Air Worldwide Holdings, Inc. (a)	77,873		4,131

Airlines—2.9%
AirTran Holdings, Inc. (a)	1,069,867		5,435
Copa Holdings S.A., Class A	44,525		2,707

			8,142

Auto Components—1.2%
Tenneco, Inc. (a)	142,900		3,380

Biotechnology—4.7%
AMAG Pharmaceuticals, Inc. (a)	197,687		6,901
BioMarin Pharmaceutical, Inc. (a)	180,035		4,208
Cubist Pharmaceuticals, Inc. (a)	98,196		2,213

			13,322

Capital Markets—2.2%
Greenhill & Co., Inc.	44,460		3,650
MF Global Holdings Ltd. (a)	323,600		2,611

			6,261

Chemicals—1.0%
Intrepid Potash, Inc. (a)	90,185		2,735

Commercial Banks—0.7%
CapitalSource, Inc.	382,811		2,140

Commercial Services & Supplies—2.1%
EnerNOC, Inc. (a)	96,259		2,857
Innerworkings, Inc. (a)	623,671		3,243

			6,100

Consumer Finance—0.9%
World Acceptance Corp. (a)	72,350		2,610

Diversified Consumer Services—2.6%
American Public Education, Inc. (a)	156,898		7,311

Food Products—1.7%
Smart Balance, Inc. (a)	746,666		4,838

Health Care Equipment & Supplies—4.8%
Abaxis, Inc. (a)	101,943		2,772
Masimo Corp.	135,050		3,586
NuVasive, Inc. (a)	99,174		4,483
Thoratec Corp. (a)	84,380		2,822

			13,663


	Shares	Value* (000s)
Health Care Providers & Services—4.0%
Amedisys, Inc. (a)	64,675	$	3,571
HMS Holdings Corp. (a)	48,850		2,491
IPC The Hospitalist Co., Inc. (a)	66,340		2,329
WellCare Health Plans, Inc. (a)	93,520		2,787

			11,178

Health Care Technology—0.9%
Quality Systems, Inc.	39,925		2,453

Hotels, Restaurants & Leisure—5.8%
Buffalo Wild Wings, Inc. (a)	52,377		2,520
Life Time Fitness, Inc. (a)	201,958		5,675
Orient-Express Hotels Ltd., Class A (a)	242,413		3,438
Pinnacle Entertainment, Inc. (a)	476,222		4,638

			16,271

Household Durables—0.9%
Tempur-Pedic International, Inc. (a)	88,550		2,671

Internet Software & Services—1.8%
Archipelago Learning, Inc. (a)	182,594		2,662
VistaPrint NV (a)	44,303		2,537

			5,199

IT Services—4.0%
Sapient Corp.	379,293		3,467
Syntel, Inc.	71,525		2,752
TeleTech Holdings, Inc. (a)	146,204		2,497
VeriFone Holdings, Inc. (a)	124,300		2,512

			11,228

Machinery—1.3%
Energy Recovery, Inc. (a)	112,225		707
Middleby Corp. (a)	50,103		2,885

			3,592

Oil, Gas & Consumable Fuels—10.9%
Comstock Resources, Inc. (a)	148,065		4,709
GMX Resources, Inc. (a)	233,628		1,920
Goodrich Petroleum Corp. (a)	114,630		1,793
PetroHawk Energy Corp. (a)	422,417		8,567
Petroquest Energy, Inc. (a)	488,783		2,459
Quicksilver Resources, Inc. (a)	237,186		3,337
SandRidge Energy, Inc. (a)	1,031,075		7,939

			30,724

Pharmaceuticals—5.2%
Cardiome Pharma Corp. (a)	688,110		4,548
Durect Corp. (a)	1,023,944		3,082
Par Pharmaceutical Cos., Inc. (a)	112,700		2,795
POZEN, Inc. (a)	437,730		4,194

			14,619


	Shares	Value* (000s)
Professional Services—2.4%
Corporate Executive Board Co.	166,150	$	4,418
Resources Connection, Inc. (a)	122,350		2,345

			6,763

Road & Rail—2.7%
Celadon Group, Inc. (a)	167,019		2,328
Old Dominion Freight Line, Inc. (a)	95,550		3,191
Vitran Corp., Inc. (a)	166,214		2,011

			7,530

Semiconductors & Semiconductor Equipment—10.2%
Advanced Energy Industries, Inc. (a)	424,325		7,027
Atheros Communications, Inc. (a)	124,869		4,834
Netlogic Microsystems, Inc. (a)	182,388		5,367
Teradyne, Inc. (a)	637,610		7,122
Verigy Ltd. (a)	406,413		4,544

			28,894

Software—7.1%
Commvault Systems, Inc. (a)	136,850		2,922
MicroStrategy, Inc., Class A (a)	23,095		1,965
NetSuite, Inc. (a)	268,286		3,901
Rosetta Stone, Inc. (a)	166,447		3,958
SuccessFactors, Inc. (a)	143,150		2,725
VanceInfo Technologies, Inc. ADR (a)	208,576		4,649

			20,120

Specialty Retail—1.0%
Ulta Salon Cosmetics & Fragrance, Inc. (a)	121,499		2,748

Textiles, Apparel & Luxury Goods—3.7%
Iconix Brand Group, Inc. (a)	298,550		4,586
Lululemon Athletica, Inc. (a)	78,184		3,245
Under Armour, Inc., Class A (a)	89,225		2,624

			10,455

Thrifts & Mortgage Finance—3.0%
MGIC Investment Corp. (a)	768,541		8,431

Trading Companies & Distributors—0.9%
Titan Machinery, Inc. (a)	176,926		2,422

Transportation Infrastructure—2.6%
Aegean Marine Petroleum Network, Inc.	183,089		5,196
Scorpio Tankers, Inc. (a)	173,350		2,177

			7,373

Total Common Stock (cost—$233,042)			278,027


	Principal Amount (000s)		Value* (000s)
Repurchase Agreement—0.8%
State Street Bank & Trust Co., dated 3/31/10, 0.01%, due 4/1/10, proceeds $2,156; collateralized by Federal Home Loan Bank Discount Notes, zero coupon, due 4/9/10, valued at $2,200 (cost—$2,156)	$	2,156	$	2,156

Total Investments (cost—$235,198)—99.3%				280,183

Other assets less liabilities—0.7%				2,055

Net Assets—100.0%			$	282,238

Notes to Schedule of Investments:

(a)	Non-income producing.

Glossary:

ADR—American Depositary Receipt


	Shares	Value* (000s)
COMMON STOCK—99.7%
Aerospace & Defense—6.4%
AerCap Holdings NV (a)	375,000	$	4,320
BE Aerospace, Inc. (a)	150,000		4,568
Precision Castparts Corp.	55,000		6,969
Rockwell Collins, Inc.	100,000		6,259

			22,116

Air Freight & Logistics—1.9%
Atlas Air Worldwide Holdings, Inc. (a)	120,000		6,366

Auto Components—2.1%
BorgWarner, Inc. (a)	80,000		3,054
Tenneco, Inc. (a)	170,000		4,021

			7,075

Biotechnology—4.4%
AMAG Pharmaceuticals, Inc. (a)	127,000		4,434
BioMarin Pharmaceutical, Inc. (a)	227,000		5,305
Celgene Corp. (a)	89,400		5,539

			15,278

Capital Markets—1.0%
Jefferies Group, Inc.	150,000		3,550

Chemicals—1.6%
Ashland, Inc.	107,000		5,646

Commercial Banks—1.5%
CapitalSource, Inc.	896,000		5,009

Communications Equipment—1.1%
Research In Motion Ltd. (a)	50,000		3,698

Computers & Peripherals—3.1%
NetApp, Inc. (a)	200,000		6,512
QLogic Corp. (a)	200,000		4,060

			10,572

Construction & Engineering—1.9%
KBR, Inc.	300,000		6,648

Containers & Packaging—2.4%
Owens-Illinois, Inc. (a)	228,500		8,121

Diversified Financial Services—1.7%
IntercontinentalExchange, Inc. (a)	51,400		5,766

Energy Equipment & Services—1.2%
Weatherford International Ltd. (a)	250,000		3,965

Food Products—3.1%
Del Monte Foods Co.	400,000		5,840
Mead Johnson Nutrition Co., Class A	90,000		4,683

			10,523


	Shares	Value* (000s)
Health Care Equipment & Supplies—1.6%
St. Jude Medical, Inc. (a)	135,800	$	5,575

Health Care Providers & Services—4.8%
CIGNA Corp.	152,200		5,567
Express Scripts, Inc. (a)	63,800		6,492
WellCare Health Plans, Inc. (a)	147,100		4,384

			16,443

Health Care Technology—1.1%
MedAssets, Inc. (a)	173,320		3,640

Hotels, Restaurants & Leisure—2.5%
Darden Restaurants, Inc.	95,000		4,231
Las Vegas Sands Corp. (a)	206,000		4,357

			8,588

Insurance—2.1%
Assured Guaranty Ltd.	200,000		4,394
Progressive Corp.	151,000		2,883

			7,277

Internet & Catalog Retail—1.3%
Priceline.com, Inc. (a)	18,000		4,590

Internet Software & Services—3.8%
Baidu, Inc. ADR (a)	4,500		2,686
Equinix, Inc. (a)	28,600		2,784
GSI Commerce, Inc. (a)	135,000		3,736
Monster Worldwide, Inc. (a)	235,000		3,903

			13,109

IT Services—2.7%
Cognizant Technology Solutions Corp., Class A (a)	114,000		5,812
Genpact Ltd. (a)	200,000		3,354

			9,166

Life Sciences Tools & Services—1.9%
Life Technologies Corp. (a)	123,981		6,480

Machinery—2.5%
Flowserve Corp.	41,000		4,521
Joy Global, Inc.	70,000		3,962

			8,483

Media—4.3%
Discovery Communications, Inc., Class A (a)	125,000		4,224
Scripps Networks Interactive, Inc., Class A	105,000		4,657
Viacom, Inc., Class B (a)	175,000		6,016

			14,897

Metals & Mining—1.5%
Cliffs Natural Resources, Inc.	74,740		5,303


	Shares	Value* (000s)
Multiline Retail—3.2%
Dollar Tree, Inc. (a)	100,000	$	5,922
Kohl’s Corp. (a)	93,200		5,105

			11,027

Oil, Gas & Consumable Fuels—5.3%
PetroHawk Energy Corp. (a)	415,000		8,416
Pioneer National Resources Co.	75,000		4,224
Quicksilver Resources, Inc. (a)	225,000		3,166
SandRidge Energy, Inc. (a)	325,000		2,502

			18,308

Personal Products—1.4%
Avon Products, Inc.	140,000		4,742

Pharmaceuticals—0.6%
Mylan, Inc. (a)	93,150		2,115

Professional Services—1.3%
Verisk Analytics, Inc., Class A (a)	160,000		4,512

Road & Rail—1.4%
Kansas City Southern (a)	137,000		4,955

Semiconductors & Semiconductor Equipment—8.8%
Broadcom Corp., Class A	150,000		4,977
Lam Research Corp. (a)	200,000		7,464
Marvell Technology Group Ltd. (a)	340,000		6,929
Micron Technology, Inc. (a)	150,000		1,558
ON Semiconductor Corp. (a)	550,000		4,400
Veeco Instruments, Inc. (a)	114,500		4,981

			30,309

Software—3.9%
Check Point Software Technologies (a)	50,000		1,750
McAfee, Inc. (a)	145,000		5,819
Sybase, Inc. (a)	125,000		5,827

			13,396

Specialty Retail—4.1%
American Eagle Outfitters, Inc.	300,000		5,556
Tiffany & Co.	90,000		4,274
Urban Outfitters, Inc. (a)	109,000		4,145

			13,975

Textiles, Apparel & Luxury Goods—1.2%
VF Corp.	50,000		4,008

Thrifts & Mortgage Finance—2.5%
MGIC Investment Corp. (a)	780,000		8,557

Wireless Telecommunication Services—2.5%
American Tower Corp., Class A (a)	200,000		8,522

Total Common Stock (cost—$265,689)			342,310


	Principal Amount (000s)		Value* (000s)
Repurchase Agreement—1.1%
State Street Bank & Trust Co., dated 3/31/10, 0.01%, due 4/1/10, proceeds $3,914; collateralized by Fannie Mae, 1.722%, due 5/10/11, valued at $3,995 including accrued interest (cost—$3,914)	$	3,914	$	3,914

Total Investments (cost—$269,603)—100.8%				346,224

Liabilities in excess of other assets—(0.8)%				(2,839	)

Net Assets—100.0%			$	343,385

Notes to Schedule of Investments:

(a)	Non-income producing.

Glossary:

ADR—American Depositary Receipt


	Shares	Value* (000s)
COMMON STOCK—98.6%
Brazil—1.0%
Petroleo Brasileiro S.A. ADR	10,100	$	450

China—1.9%
China Construction Bank Corp.	425,000		347
CNOOC Ltd.	306,000		504

			851

Czech Republic—0.8%
CEZ AS	7,900		374

France—13.7%
Air Liquide S.A.	5,200		625
Alstom S.A.	10,500		654
AXA S.A.	40,000		887
Danone	11,600		699
Ipsen S.A.	8,930		436
PPR S.A.	5,370		714
Sanofi-Aventis S.A.	10,900		813
Total S.A.	25,300		1,468

			6,296

Germany—5.2%
Bayer AG	8,694		587
SAP AG	13,804		668
Siemens AG	11,175		1,117

			2,372

Hong Kong—1.2%
Cheung Kong Holdings Ltd.	44,000		566

India—2.3%
Bharti Airtel Ltd.	73,790		516
ICICI Bank Ltd.	25,000		531

			1,047

Indonesia—1.0%
Perusahaan Gas Negara PT	1,000,000		466

Italy—2.1%
Intesa Sanpaola SpA (b)	175,000		652
Saipem SpA	8,600		332

			984

Japan—24.9%
Benesse Holdings, Inc.	11,500		499
East Japan Railway Co.	8,500		591
Fujitsu Ltd.	102,000		670
Ibiden Co., Ltd.	9,500		328
JGC Corp.	25,000		446
KDDI Corp.	91		471
Kuraray Co., Ltd.	56,000		755
Kurita Water Industries Ltd.	18,000		510


	Shares	Value* (000s)
Nidec Corp.	6,000	$	643
Nintendo Co., Ltd.	3,900		1,308
Nippon Electric Glass Co., Ltd.	32,000		452
Nitto Denko Corp.	17,800		691
Nomura Holdings, Inc.	70,000		514
Shionogi & Co., Ltd.	22,500		428
Softbank Corp.	21,800		538
Sumitomo Metal Mining Co., Ltd.	52,000		774
Sumitomo Mitsui Financial Group, Inc.	24,700		818
T&D Holdings, Inc.	12,500		297
Yahoo! Japan Corp.	1,870		682

			11,415

Netherlands—1.4%
Unilever NV	20,800		629

Singapore—1.6%
SembCorp Industries Ltd.	250,000		736

Spain—3.2%
Banco Bilbao Vizcaya Argentaria S.A.	41,200		563
Telefonica S.A.	39,000		924

			1,487

Sweden—2.5%
Elekta AB, Class B	8,500		238
Hennes & Mauritz AB, Class B	13,600		884

			1,122

Switzerland—5.9%
Actelion Ltd. (b)	7,800		355
Roche Holdings AG	5,930		963
UBS AG (b)	39,000		634
Zurich Financial Services AG	2,900		744

			2,696

United Kingdom—29.9%
Anglo American PLC (b)	16,000		696
BAE Systems PLC	138,000		778
BP PLC	100,000		946
Burberry Group PLC	50,000		542
Carnival PLC	10,500		431
Centrica PLC	137,000		612
Compass Group PLC	82,000		655
HSBC Holdings PLC	146,833		1,488
Marks & Spencer Group PLC	60,000		337
Meggitt PLC	121,000		562
Prudential PLC	94,000		778
Reckitt Benckiser Group PLC	17,125		941
Rio Tinto PLC	18,600		1,100
Serco Group PLC	62,600		571
Shire PLC	26,574		586
Smith & Nephew PLC	33,000		329


	Shares	Value* (000s)
Standard Chartered PLC	31,000	$	845
Vodafone Group PLC	308,097		713
Xstrata PLC (b)	42,400		802

			13,712

Total Investments (cost—$46,148) (a)—98.6%			45,203

Other assets less liabilities—1.4%			645

Net Assets—100.0%		$	45,848

Notes to Schedule of Investments

(amounts in thousands):

(a)	Securities with an aggregate value of $44,753, representing 97.6% of net assets, were valued utilizing modeling tools provided by a third-party vendor.

(b)	Non-income producing.

Glossary:

ADR—American Depositary Receipt


	Shares	Value* (000s)
COMMON STOCK—98.7%
Australia—1.6%
BHP Billiton Ltd.	17,204	$	690

Brazil—4.8%
Petroleo Brasileiro S.A. ADR	12,085		538
Vale S.A. ADR	45,927		1,478

			2,016

Canada—8.0%
Canadian Natural Resources Ltd.	10,435		772
Goldcorp, Inc.	12,435		463
Suncor Energy, Inc.	13,280		432
Teck Resources Ltd., Class B (b)	24,190		1,054
Thompson Creek Metals Co., Inc. (b)	48,200		652

			3,373

France—1.7%
Vallourec S.A.	3,550		716

Luxembourg—2.5%
ArcelorMittal	24,540		1,076

Netherlands—1.7%
Core Laboratories NV	5,640		738

Switzerland—2.3%
Noble Corp. (b)	23,450		981

United Kingdom—10.0%
Anglo American PLC (b)	13,630		593
BG Group PLC	34,245		593
Ensco International PLC ADR	20,125		901
Ferrexpo PLC	46,635		266
Rio Tinto PLC	15,460		914
Xstrata PLC (b)	51,465		974

			4,241

United States—66.1%
Air Products & Chemicals, Inc.	12,825		948
AK Steel Holding Corp.	18,300		418
Allegheny Technologies, Inc.	19,770		1,067
Alpha Natural Resources, Inc. (b)	22,330		1,114
Anadarko Petroleum Corp.	21,700		1,580
Cameron International Corp. (b)	25,030		1,073
Carrizo Oil & Gas, Inc. (b)	17,220		395
Cliffs Natural Resources, Inc.	18,950		1,345
Concho Resources, Inc. (b)	9,050		456
Devon Energy Corp.	6,630		427
EOG Resources, Inc.	6,765		629
Exxon Mobil Corp.	27,230		1,824
FMC Technologies, Inc. (b)	6,775		438


	Shares		Value* (000s)
Freeport-McMoRan Copper & Gold, Inc.		12,730	$	1,063
Halliburton Co.		38,650		1,165
National-Oilwell Varco, Inc.		13,800		560
Newfield Exploration Co. (b)		6,740		351
Newmont Mining Corp.		9,625		490
Noble Energy, Inc.		14,255		1,041
Occidental Petroleum Corp.		15,415		1,303
Oceaneering International, Inc. (b)		10,825		687
Peabody Energy Corp.		18,130		829
PetroHawk Energy Corp. (b)		21,200		430
Pride International, Inc. (b)		14,580		439
Schlumberger Ltd.		20,840		1,323
Schnitzer Steel Industries, Inc., Class A		12,280		645
Southern Copper Corp.		8,145		258
Southwestern Energy Co. (b)		37,070		1,509
Steel Dynamics, Inc.		72,250		1,262
Titanium Metals Corp. (b)		12,780		212
Transocean Ltd. (b)		10,350		894
U.S. Steel Corp.		20,020		1,272
Valero Energy Corp.		31,600		623

				28,070

Total Common Stock (cost—$34,132)				41,901

	Principal Amount (000s)
Repurchase Agreement—3.6%
State Street Bank & Trust Co., dated 3/31/10, 0.01%, due 4/1/10, proceeds $1,520; collateralized by Federal Home Loan Bank Discount Notes, zero coupon, due 4/9/10, valued at $1,555 (cost—$1,520)	$	1,520		1,520

Total Investments (cost—$35,652) (a)—102.3%				43,421

Liabilities in excess of other assets—(2.3)%				(956	)

Net Assets—100.0%			$	42,465


	Shares	Value* (000s)
COMMON STOCK—97.5%
Australia—0.7%
Ausenco Ltd.	150,696	$	608

Austria—1.9%
Andritz AG	13,910		821
Conwert Immobilien Invest SE (b)	56,128		697

			1,518

Brazil—1.6%
Anhanguera Educacional Participacoes S.A., UNIT (b)	45,200		656
Localiza Rent A Car S.A.	59,530		629

			1,285

British Virgin Islands—0.3%
UTI Worldwide, Inc.	17,095		262

Canada—0.7%
MDC Partners, Inc., Class A	51,777		536

China—0.6%
Beijing Jingkelong Co., Ltd.	514,000		522
Peace Mark Holdings Ltd. (b)(d)	932,000		—	(c)

			522

Denmark—0.7%
Sydbank A/S (b)	21,943		587

Finland—0.8%
Nokian Renkaat Oyj	24,825		645

France—0.7%
Saft Groupe S.A.	13,500		535

Germany—3.1%
Dialog Semiconductor PLC (b)	62,080		956
Kloeckner & Co. SE (b)	27,045		798
Rheinmetall AG	9,970		714

			2,468

Hong Kong—0.9%
China Dongxiang Group Co.	963,000		691

Ireland—1.0%
ICON PLC ADR (b)	12,005		317
Irish Life & Permanent Group Holdings PLC (b)	122,075		484

			801

Israel—1.5%
Ceragon Networks Ltd. (b)	26,525		289
Mellanox Technologies Ltd. (b)	19,290		455
Radware Ltd. (b)	21,235		469

			1,213


	Shares	Value* (000s)
Japan—8.1%
Accordia Golf Co., Ltd.	575	$	578
Digital Garage, Inc.	293		654
Kuraray Co., Ltd.	39,800		536
Maruwa Co. Ltd.	29,300		623
Message Co., Ltd.	314		674
Nitori Co., Ltd.	6,790		516
Osaki Electric Co., Ltd.	57,500		509
Pigeon Corp.	10,200		380
Takeuchi Manufacturing Co., Ltd. (b)	49,300		691
Unicharm Petcare Corp.	19,420		616
UNY Co., Ltd.	90,700		751

			6,528

Korea (Republic of)—2.1%
Hyundai Department Store Co., Ltd.	5,675		519
Taeyoung Engineering & Construction	119,800		522
Woongjin Thinkbig Co., Ltd.	28,870		642

			1,683

Netherlands—2.9%
Aalberts Industries NV	37,785		602
Core Laboratories NV	1,940		254
Eurand NV (b)	12,779		144
Fugro NV	10,895		711
SNS REAAL NV (b)	97,105		605

			2,316

Philippines—1.8%
Energy Development Corp.	7,680,000		848
Filinvest Land, Inc.	30,136,000		592

			1,440

Russia—1.9%
Sollers OJSC (b)	47,285		861
Veropharm (b)	18,545		686

			1,547

Singapore—1.2%
Indofood Agri Resources Ltd. (b)	623,000		995

Spain—2.1%
Tecnicas Reunidas S.A.	13,545		851
Viscofan S.A.	31,745		833

			1,684

Sweden—3.3%
Autoliv, Inc. (b)	8,480		437
Betsson AB (b)	41,499		712
Elekta AB, Class B	23,428		654
JM AB (b)	46,633		822

			2,625

Switzerland—3.1%
AFG Arbonia-Forster Holding (b)	26,310		629
Georg Fischer AG (b)	3,165		1,159
Winterthur Technologie AG	17,652		739

			2,527


	Shares	Value* (000s)
Thailand—0.6%
BEC World PCL	625,500	$	479

United Kingdom—9.8%
Aegis Group PLC	388,175		751
Britvic PLC	124,610		876
Croda International PLC	61,840		880
Dana Petroleum PLC (b)	38,595		704
Intermediate Capital Group PLC	177,450		732
Restaurant Group PLC	239,100		844
Salamander Energy PLC (b)	134,217		540
SIG PLC (b)	307,730		531
Spirent Communications PLC	356,620		670
Taylor Wimpey PLC (b)	1,062,440		607
Weir Group PLC	53,420		757

			7,892

United States—46.1%
3PAR, Inc. (b)	41,735		417
A. Schulman, Inc.	12,550		307
Actuant Corp., Class A	15,712		307
Alexion Pharmaceuticals, Inc. (b)	4,950		269
Amedisys, Inc. (b)	6,470		357
American Public Education, Inc. (b)	5,290		246
Amerigon, Inc. (b)	28,870		292
Art Technology Group, Inc. (b)	137,515		606
Artio Global Investors, Inc.	13,510		334
Athenahealth, Inc. (b)	8,785		321
Atlas Air Worldwide Holdings, Inc. (b)	7,660		406
Atmel Corp. (b)	79,425		400
Barnes Group, Inc.	18,875		367
BE Aerospace, Inc. (b)	20,435		622
Broadpoint Gleacher Securities, Inc. (b)	49,895		200
Carrizo Oil & Gas, Inc. (b)	14,925		343
Cheesecake Factory, Inc. (b)	18,360		497
Chico’s FAS, Inc.	25,630		370
Citi Trends, Inc. (b)	13,105		425
Clean Harbors, Inc. (b)	6,676		371
Commvault Systems, Inc. (b)	17,990		384
Corporate Office Properties Trust	7,125		286
Diamond Foods, Inc.	9,795		412
Electronics for Imaging, Inc. (b)	33,450		389
Emergency Medical Services Corp., Class A (b)	6,825		386
Emulex Corp. (b)	37,115		493
Factset Research Systems, Inc.	6,660		489
Fairchild Semiconductor International, Inc. (b)	37,130		395


	Shares	Value* (000s)
Finisar Corp. (b)	25,045	$	393
Genesee & Wyoming, Inc., Class A (b)	9,310		318
Genoptix, Inc. (b)	4,475		159
Goodrich Petroleum Corp. (b)	17,780		278
Greif, Inc., Class A	7,285		400
GSI Commerce, Inc. (b)	12,390		343
Gymboree Corp. (b)	9,630		497
Halozyme Therapeutics, Inc. (b)	34,315		274
Health Management Associates, Inc., Class A (b)	39,150		337
HeartWare International, Inc. (b)	5,200		231
HMS Holdings Corp. (b)	7,820		399
Human Genome Sciences, Inc. (b)	18,610		562
Iberiabank Corp.	6,492		390
ICF International, Inc. (b)	12,655		314
Infinera Corp. (b)	58,775		501
Internet Brands, Inc., Class A (b)	8,496		78
Intrepid Potash, Inc. (b)	12,415		377
IPC The Hospitalist Co., Inc. (b)	8,500		298
Janus Capital Group, Inc.	24,170		345
JDA Software Group, Inc. (b)	8,835		246
Knight Transportation, Inc.	13,225		279
Korn/Ferry International (b)	19,355		342
Liberty Media Corp. - Capital, Ser. A (b)	10,290		374
Life Time Fitness, Inc. (b)	11,250		316
Lumber Liquidators Holdings, Inc. (b)	14,935		398
Masimo Corp.	11,730		311
MedAssets, Inc. (b)	14,840		312
Meritage Homes Corp. (b)	12,550		264
Mettler Toledo International, Inc. (b)	3,100		339
Momenta Pharmaceuticals, Inc. (b)	13,460		201
Monolithic Power Systems, Inc. (b)	18,775		419
Natus Medical, Inc. (b)	26,785		426
Netezza Corp. (b)	35,385		453
Netlogic Microsystems, Inc. (b)	17,595		518
NewStar Financial, Inc. (b)	51,800		330
NuVasive, Inc. (b)	6,715		304
OfficeMax, Inc. (b)	29,740		488
Olin Corp.	19,650		386
Onyx Pharmaceuticals, Inc. (b)	6,300		191
Packaging Corp. of America	16,960		417
Pharmasset, Inc. (b)	9,790		262
Polaris Industries, Inc.	9,420		482
Polycom, Inc. (b)	19,110		584
Primerica, Inc. (b)	29,543		443
Psychiatric Solutions, Inc. (b)	14,155		422
Rackspace Hosting, Inc. (b)	24,345		456
RightNow Technologies, Inc. (b)	30,265		541


	Shares		Value* (000s)
RTI International Metals, Inc. (b)		10,835	$	329
Sharps Compliance Corp. (b)		52,963		346
Sirona Dental Systems, Inc. (b)		10,175		387
Snap-On, Inc.		7,980		346
Solera Holdings, Inc.		15,089		583
Stifel Financial Corp. (b)		7,635		410
Sun Healthcare Group, Inc. (b)		26,050		249
Sunstone Hotel Investors, Inc. (b)		31,275		349
Superior Energy Services, Inc. (b)		15,445		325
Tempur-Pedic International, Inc. (b)		20,190		609
Teradyne, Inc. (b)		37,310		417
Thoratec Corp. (b)		11,815		395
TiVo, Inc. (b)		24,475		419
Ultimate Software Group, Inc. (b)		12,425		409
Under Armour, Inc., Class A (b)		13,170		387
United Natural Foods, Inc. (b)		13,030		367
United Therapeutics Corp. (b)		4,100		227
Veeco Instruments, Inc. (b)		12,610		549
Vocus, Inc. (b)		27,375		467
Volcano Corp. (b)		18,850		455
Warnaco Group, Inc. (b)		12,200		582
Western Alliance Bancorp (b)		50,730		289
WMS Industries, Inc. (b)		11,361		476

				37,061

Total Common Stock (cost—$67,830)				78,448


	Principal Amount (000s)
Repurchase Agreement—1.4%
State Street Bank & Trust Co., dated 3/31/10, 0.01%, due 4/1/10, proceeds $1,106; collateralized by Federal Home Loan Bank Discount Notes, zero coupon, due 4/9/10, valued at $885 and U.S. Treasury Notes, 2.375%, due 8/31/14, valued at $246 including accrued interest (cost—$1,106)	$	1,106		1,106

Total Investments (cost—$68,936) (a)—98.9%				79,554

Other assets less liabilities—1.1%				914

Net Assets—100.0%			$	80,468


	Shares	Value* (000s)
COMMON STOCK—97.6%
Aerospace & Defense—3.1%
General Dynamics Corp.	76,605	$	5,914
United Technologies Corp.	104,875		7,720

			13,634

Air Freight & Logistics—2.1%
FedEx Corp.	100,780		9,413

Beverages—2.3%
Coca-Cola Co.	94,285		5,186
PepsiCo, Inc.	76,045		5,031

			10,217

Biotechnology—5.1%
Amgen, Inc. (b)	79,290		4,738
Celgene Corp. (b)	112,685		6,982
Gilead Sciences, Inc. (b)	138,095		6,281
Human Genome Sciences, Inc. (b)	150,895		4,557

			22,558

Capital Markets—3.6%
Charles Schwab Corp.	286,994		5,364
Goldman Sachs Group, Inc.	36,255		6,186
State Street Corp.	99,200		4,478

			16,028

Chemicals—1.4%
Air Products & Chemicals, Inc.	81,585		6,033

Commercial Banks—1.8%
Wells Fargo & Co.	247,845		7,713

Communications Equipment—4.4%
Cisco Systems, Inc. (b)	505,380		13,155
QUALCOMM, Inc.	142,716		5,993

			19,148

Computers & Peripherals—9.9%
Apple, Inc. (b)	101,340		23,808
EMC Corp. (b)	309,169		5,577
Hewlett-Packard Co.	192,771		10,246
NetApp, Inc. (b)	116,105		3,780

			43,411

Diversified Financial Services—1.0%
JPMorgan Chase & Co.	100,825		4,512

Electrical Equipment—1.1%
Cooper Industries PLC	100,910		4,838

Energy Equipment & Services—4.3%
Cameron International Corp. (b)	115,160		4,936
Halliburton Co.	143,095		4,312
Schlumberger Ltd.	149,487		9,486

			18,734


	Shares	Value* (000s)
Food & Staples Retailing—1.2%
Wal-Mart Stores, Inc.	94,530	$	5,256

Food Products—1.5%
Kellogg Co.	125,870		6,725

Health Care Equipment & Supplies—1.4%
Alcon, Inc. (a)	36,597		5,913

Health Care Providers & Services—4.6%
Cardinal Health, Inc.	196,455		7,078
Express Scripts, Inc. (b)	86,250		8,777
UnitedHealth Group, Inc.	135,950		4,442

			20,297

Hotels, Restaurants & Leisure—3.4%
McDonald’s Corp.	94,185		6,284
Starwood Hotels & Resorts Worldwide, Inc.	189,132		8,821

			15,105

Household Products—1.7%
Colgate-Palmolive Co.	87,035		7,420

Internet & Catalog Retail—2.7%
Amazon.com, Inc. (a)(b)	88,095		11,957

Internet Software & Services—4.2%
Google, Inc., Class A (b)	25,620		14,527
Yahoo!, Inc. (b)	228,600		3,779

			18,306

IT Services—1.7%
Visa, Inc., Class A	83,405		7,592

Life Sciences Tools & Services—2.2%
Thermo Fisher Scientific, Inc. (a)(b)	185,420		9,538

Machinery—3.2%
Eaton Corp.	92,505		7,009
Illinois Tool Works, Inc.	148,075		7,013

			14,022

Media—2.9%
DIRECTV, Class A (b)	121,360		4,103
Walt Disney Co.	241,865		8,444

			12,547

Multiline Retail—3.7%
Kohl’s Corp. (b)	144,750		7,929
Target Corp.	162,145		8,529

			16,458

Oil, Gas & Consumable Fuels—3.6%
Anadarko Petroleum Corp.	59,680		4,346


	Shares		Value* (000s)
Occidental Petroleum Corp.		64,675	$	5,468
Southwestern Energy Co. (b)		147,490		6,006

				15,820

Personal Products—1.2%
Avon Products, Inc.		160,567		5,438

Pharmaceuticals—4.2%
Abbott Laboratories		132,355		6,972
Allergan, Inc.		67,420		4,404
Teva Pharmaceutical Industries Ltd. ADR		113,885		7,184

				18,560

Semiconductors & Semiconductor Equipment—2.3%
Intel Corp.		49,410		1,100
Microchip Technology, Inc.		246,180		6,932
Texas Instruments, Inc.		85,925		2,103

				10,135

Software—8.4%
Activision Blizzard, Inc.		370,754		4,471
Adobe Systems, Inc. (b)		160,785		5,687
Microsoft Corp.		546,465		15,995
Oracle Corp.		411,520		10,572

				36,725

Specialty Retail—3.4%
Bed Bath & Beyond, Inc. (b)		182,075		7,967
Lowe’s Cos., Inc.		290,507		7,042

				15,009

Total Common Stock (cost—$359,034)				429,062


	Principal Amount (000s)
Repurchase Agreement—2.9%
State Street Bank & Trust Co., dated 3/31/10, 0.01%, due 4/1/10, proceeds $12,609; collateralized by Federal Home Loan Bank Discount Notes, zero coupon, due 4/23/10, valued at $12,865 (cost—$12,609)	$	12,609		12,609


	Contracts	Value* (000s)
OPTIONS PURCHASED (b)—0.4%

Call Options—0.4%
Intel Corp. (CBOE),
strike price $22.50, expires 1/22/11 (cost—$1,707)	8,939	$	1,654

Total Investments before options written (cost—$373,350)—100.9%			443,325


OPTIONS WRITTEN (b)—(0.8)%

Call Options—(0.6)%
Alcon, Inc. (CBOE),
strike price $165, expires 8/21/10	182		(56	)
Amazon.com, Inc. (CBOE),
strike price $100, expires 1/22/11	500		(2,077	)
Intel Corp. (CBOE),
strike price $30, expires 1/22/11	8,939		(188	)
Thermo Fisher Scientific, Inc. (CBOE),
strike price $55, expires 9/18/10	1,579		(292	)

			(2,613	)

Put Options—(0.2)%
Amazon.com, Inc. (CBOE),
strike price $105, expires 1/22/11	291		(191	)
Intel Corp. (CBOE),
strike price $17.50, expires 1/22/11	8,939		(608	)

			(799	)

Total Options Written (premiums received—$3,184)			(3,412	)

Total Investments net of options written (cost—$370,166)—100.1%			439,913

Other liabilities in excess of other assets—(0.1)%			(564	)

Net Assets—100.0%		$	439,349

Notes to Schedule of Investments:

(a)	All or partial amount segregated as collateral for options written.

(b)	Non-income producing.

Glossary:

ADR—American Depositary Receipt

CBOE—Chicago Board Options Exchange


	Shares	Value* (000s)
COMMON STOCK—98.4%
Aerospace & Defense—2.9%
Goodrich Corp.	9,780	$	689
Precision Castparts Corp.	7,377		935

			1,624

Air Freight & Logistics—1.3%
Expeditors International of Washington, Inc.	19,455		718

Beverages—2.2%
Coca-Cola Enterprises, Inc.	18,340		507
Hansen Natural Corp. (a)	16,383		711

			1,218

Biotechnology—3.4%
Amylin Pharmaceuticals, Inc. (a)	4,770		107
Human Genome Sciences, Inc. (a)	18,301		553
Onyx Pharmaceuticals, Inc. (a)	6,603		200
OSI Pharmaceuticals, Inc. (a)	1,605		96
United Therapeutics Corp. (a)	8,637		478
Vertex Pharmaceuticals, Inc. (a)	12,342		504

			1,938

Capital Markets—4.5%
Artio Global Investors, Inc.	9,290		230
Invesco Ltd.	7,975		175
Janus Capital Group, Inc.	53,113		759
Lazard Ltd., Class A	17,984		642
TD Ameritrade Holding Corp. (a)	37,250		710

			2,516

Chemicals—1.2%
Air Products & Chemicals, Inc.	1,445		107
Intrepid Potash, Inc. (a)	18,905		573

			680

Commercial Banks—2.0%
Comerica, Inc.	6,270		238
SunTrust Banks, Inc.	13,247		355
Zions Bancorporation	24,545		536

			1,129

Commercial Services & Supplies—0.6%
Republic Services, Inc.	11,286		328

Communications Equipment—3.1%
Brocade Communications Systems, Inc. (a)	89,199		509
Ciena Corp. (a)	11,335		173
Finisar Corp. (a)	32,080		504
Polycom, Inc. (a)	19,039		582

			1,768

Computers & Peripherals—1.8%
NetApp, Inc. (a)	21,989		716


	Shares	Value* (000s)
QLogic Corp. (a)	14,660	$	298

			1,014

Construction & Engineering—1.0%
Foster Wheeler AG (a)	19,969		542

Containers & Packaging—1.3%
Owens-Illinois, Inc. (a)	20,545		730

Diversified Consumer Services—0.9%
DeVry, Inc.	7,424		484

Electric Utilities—0.3%
PPL Corp.	5,256		146

Electrical Equipment—5.5%
Ametek, Inc.	23,887		990
Cooper Industries PLC	14,618		701
Rockwell Automation, Inc.	11,272		635
Roper Industries, Inc.	13,287		769

			3,095

Electronic Equipment, Instruments & Components—1.2%
Tyco Electronics Ltd.	24,355		669

Energy Equipment & Services—3.6%
Cameron International Corp. (a)	21,092		904
Noble Corp. (a)	11,365		475
Weatherford International Ltd. (a)	41,602		660

			2,039

Food Products—0.6%
Flowers Foods, Inc.	14,090		349

Health Care Equipment & Supplies—3.6%
Edwards Lifesciences Corp. (a)	7,450		736
NuVasive, Inc. (a)	16,790		759
St. Jude Medical, Inc. (a)	3,455		142
Thoratec Corp. (a)	11,692		391

			2,028

Health Care Providers & Services—4.2%
Aetna, Inc.	16,820		590
Cardinal Health, Inc.	10,436		376
Community Health Systems, Inc. (a)	12,690		469
DaVita, Inc. (a)	3,340		212
McKesson Corp.	7,347		483
Psychiatric Solutions, Inc. (a)	6,684		199

			2,329

Hotels, Restaurants & Leisure—3.5%
Darden Restaurants, Inc.	9,290		414
International Game Technology	40,324		744
Las Vegas Sands Corp. (a)	7,170		152


	Shares	Value* (000s)
Starwood Hotels & Resorts Worldwide, Inc.	14,441	$	673

			1,983

Household Durables—0.7%
KB Home	23,130		387

Household Products—0.4%
Clorox Co.	3,546		228

Insurance—0.5%
Arch Capital Group Ltd. (a)	3,924		299

Internet & Catalog Retail—1.1%
Expedia, Inc.	24,361		608

Internet Software & Services—1.9%
Akamai Technologies, Inc. (a)	21,832		686
Rackspace Hosting, Inc. (a)	8,995		169
Yahoo!, Inc. (a)	11,885		196

			1,051

IT Services—1.0%
Global Payments, Inc.	12,485		569

Leisure Equipment & Products—1.7%
Hasbro, Inc.	25,429		973

Life Sciences Tools & Services—3.3%
ICON PLC ADR (a)	16,209		428
Life Technologies Corp. (a)	4,755		248
Mettler Toledo International, Inc. (a)	6,512		711
Qiagen NV (a)	18,999		437

			1,824

Machinery—2.4%
Navistar International Corp. (a)	19,535		874
Terex Corp. (a)	21,989		499

			1,373

Media—2.0%
CBS Corp., Class B	41,441		577
Scripps Networks Interactive, Inc., Class A	12,148		539

			1,116

Metals & Mining—1.7%
Cliffs Natural Resources, Inc.	7,575		537
Steel Dynamics, Inc.	22,421		392

			929

Multiline Retail—1.2%
Dollar Tree, Inc. (a)	11,281		668

Oil, Gas & Consumable Fuels—2.2%
Alpha Natural Resources, Inc. (a)	10,993		548


	Shares	Value* (000s)
Noble Energy, Inc.	3,285	$	240
PetroHawk Energy Corp. (a)	23,300		473

			1,261

Paper & Forest Products—0.5%
International Paper Co.	12,538		309

Personal Products—1.5%
Avon Products, Inc.	24,121		817

Pharmaceuticals—1.7%
Allergan, Inc.	8,421		550
Shire PLC ADR	6,025		397

			947

Professional Services—0.5%
Manpower, Inc.	4,950		283

Real Estate Investment Trust—0.4%
Public Storage	2,250		207

Road & Rail—2.2%
J.B. Hunt Transport Services, Inc.	19,004		682
Knight Transportation, Inc.	26,431		557

			1,239

Semiconductors & Semiconductor Equipment—9.2%
Analog Devices, Inc.	25,368		731
Atmel Corp. (a)	28,020		141
Avago Technologies Ltd. (a)	30,855		634
Lam Research Corp. (a)	10,005		373
Linear Technology Corp.	7,335		208
Marvell Technology Group Ltd. (a)	44,382		905
Microchip Technology, Inc.	17,010		479
Netlogic Microsystems, Inc. (a)	15,692		462
ON Semiconductor Corp. (a)	55,216		442
Veeco Instruments, Inc. (a)	11,250		489
Xilinx, Inc.	11,740		299

			5,163

Software—5.5%
Activision Blizzard, Inc.	12,985		157
Autodesk, Inc. (a)	19,615		577
Check Point Software Technologies (a)	22,632		794
Citrix Systems, Inc. (a)	6,224		295
McAfee, Inc. (a)	5,428		218
Salesforce.com, Inc. (a)	10,483		780
TiVo, Inc. (a)	15,210		260

			3,081

Specialty Retail—5.9%
Bed Bath & Beyond, Inc. (a)	22,684		993
Dick’s Sporting Goods, Inc. (a)	19,372		506
Guess?, Inc.	19,114		898


	Shares		Value* (000s)
Urban Outfitters, Inc. (a)		10,600	$	403
Williams-Sonoma, Inc.		20,210		531

				3,331

Textiles, Apparel & Luxury Goods—0.8%
Polo Ralph Lauren Corp.		5,135		437

Wireless Telecommunication Services—1.4%
SBA Communications Corp., Class A (a)		21,178		764

Total Common Stock (cost—$43,692)				55,191


	Principal Amount (000s)
Repurchase Agreement—0.8%
State Street Bank & Trust Co., dated 3/31/10, 0.01%, due 4/1/10, proceeds $478; collateralized by Fannie Mae, 1.722%, due 5/10/11, valued at $489 including accrued interest (cost—$478)	$	478		478

Total Investments (cost—$44,170)—99.2%				55,669

Other assets less liabilities—0.8%				445

Net Assets—100.0%			$	56,114

Notes to Schedule of Investments:

(a)	Non-income producing.

Glossary:

ADR—American Depositary Receipt


	Shares	Value* (000s)
COMMON STOCK—91.2%
Air Freight & Logistics—1.7%
FedEx Corp. (a)	2,146	$	200

Biotechnology—3.7%
Amgen, Inc. (b)	1,346		81
Celgene Corp. (a)(b)	2,272		141
Gilead Sciences, Inc. (b)	535		24
Human Genome Sciences, Inc. (b)	1,635		49
Onyx Pharmaceuticals, Inc. (b)	2,720		82
Vertex Pharmaceuticals, Inc. (b)	1,395		57

			434

Capital Markets—3.4%
Artio Global Investors, Inc.	1,790		44
Charles Schwab Corp.	3,500		66
Goldman Sachs Group, Inc.	1,038		177
State Street Corp. (a)	2,456		111

			398

Chemicals—1.2%
Air Products & Chemicals, Inc.	954		70
Mosaic Co. (a)	1,162		71

			141

Commercial Banks—0.8%
Comerica, Inc.	2,340		89

Communications Equipment—7.3%
Cisco Systems, Inc. (a)(b)	10,970		286
Finisar Corp. (b)	1,469		23
Juniper Networks, Inc. (b)	4,547		139
Motorola, Inc. (b)	6,721		47
Polycom, Inc. (a)(b)	6,105		187
Radware Ltd. (b)	1,510		33
Research In Motion Ltd. (b)	1,875		139

			854

Computers & Peripherals—7.2%
Apple, Inc. (a)(b)	1,948		458
EMC Corp. (b)	6,311		114
Hewlett-Packard Co. (a)	3,315		176
NetApp, Inc. (b)	1,755		57
Seagate Technology (b)	2,582		47

			852

Construction & Engineering—1.2%
Fluor Corp.	940		44
Quanta Services, Inc. (b)	5,047		96

			140

Consumer Finance—2.2%
American Express Co.	715		30
Discover Financial Services (a)	15,300		228

			258


	Shares	Value* (000s)
Diversified Consumer Services—0.8%
Apollo Group, Inc., Class A (b)	665	$	41
DeVry, Inc.	895		58

			99

Electrical Equipment—3.4%
Ametek, Inc. (a)	3,581		148
Cooper Industries PLC (a)	3,660		175
First Solar, Inc. (b)	583		72

			395

Electronic Equipment, Instruments & Components—2.4%
Corning, Inc.	6,763		136
Itron, Inc. (a)(b)	1,953		142

			278

Energy Equipment & Services—2.5%
National-Oilwell Varco, Inc. (a)	1,231		50
Schlumberger Ltd. (a)	2,128		135
Transocean Ltd. (b)	506		44
Weatherford International Ltd. (b)	4,100		65

			294

Food & Staples Retailing—0.5%
Costco Wholesale Corp.	985		59

Health Care Equipment & Supplies—1.2%
Alcon, Inc. (a)	842		136

Health Care Providers & Services—3.0%
Cardinal Health, Inc.	1,935		70
Community Health Systems, Inc. (b)	985		37
Express Scripts, Inc. (a)(b)	1,693		172
McKesson Corp.	1,159		76

			355

Hotels, Restaurants & Leisure—4.0%
Las Vegas Sands Corp. (a)(b)	11,615		246
McDonald’s Corp. (a)	2,102		140
Starwood Hotels & Resorts Worldwide, Inc.	1,730		81

			467

Household Products—1.3%
Clorox Co.	943		60
Colgate-Palmolive Co.	1,088		93

			153

Internet & Catalog Retail—0.7%
Amazon.com, Inc. (a)(b)	610		83

Internet Software & Services—3.6%
Akamai Technologies, Inc. (b)	1,815		57
Google, Inc., Class A (a)(b)	563		319
Yahoo!, Inc. (b)	2,550		42

			418


	Shares	Value* (000s)
Leisure Equipment & Products—0.6%
Hasbro, Inc.	1,915	$	73

Life Sciences Tools & Services—2.2%
Thermo Fisher Scientific, Inc. (a)(b)	4,986		256

Media—1.9%
DIRECTV, Class A (b)	1,275		43
Walt Disney Co. (a)	5,190		181

			224

Metals & Mining—2.4%
Barrick Gold Corp.	706		27
Freeport-McMoRan Copper & Gold, Inc. (a)	2,190		183
U.S. Steel Corp.	1,122		71

			281

Multiline Retail—0.5%
Nordstrom, Inc.	1,592		65

Oil, Gas & Consumable Fuels—4.4%
Anadarko Petroleum Corp.	810		59
Concho Resources, Inc. (b)	1,610		81
Exxon Mobil Corp.	1,245		83
Occidental Petroleum Corp.	680		58
PetroHawk Energy Corp. (b)	2,675		54
SandRidge Energy, Inc. (b)	1,874		15
Southwestern Energy Co. (a)(b)	4,182		170

			520

Personal Products—1.6%
Avon Products, Inc. (a)	4,498		153
Estee Lauder Cos., Inc., Class A	605		39

			192

Pharmaceuticals—4.2%
Abbott Laboratories	754		40
Allergan, Inc.	2,093		137
Merck & Co., Inc.	1,625		61
Pfizer, Inc.	2,695		46
Teva Pharmaceutical Industries Ltd. ADR (a)	3,400		214

			498

Real Estate Investment Trust—0.2%
Starwood Property Trust, Inc.	1,527		29

Semiconductors & Semiconductor Equipment—7.2%
Analog Devices, Inc.	1,798		52
Broadcom Corp., Class A (a)	3,500		116
Intel Corp. (a)	7,820		174
Marvell Technology Group Ltd. (a)(b)	8,072		165
Microchip Technology, Inc. (a)	6,307		178
ON Semiconductor Corp. (b)	13,675		109
Texas Instruments, Inc.	1,963	$	48

			842


	Shares		Value* (000s)
Software—7.9%
Activision Blizzard, Inc. (a)		3,763	45
Adobe Systems, Inc. (a)(b)		4,652	165
Microsoft Corp. (a)		13,772	403
Oracle Corp. (a)		8,992	231
Rovi Corp. (b)		1,150	43
Salesforce.com, Inc. (a)(b)		560	42

			929

Specialty Retail—4.2%
Bed Bath & Beyond, Inc. (b)		1,103	48
Guess?, Inc.		1,110	52
Lowe’s Cos., Inc. (a)		5,973	145
O’Reilly Automotive, Inc. (b)		1,117	47
Ross Stores, Inc.		1,080	58
Urban Outfitters, Inc. (a)(b)		3,805	145

			495

Wireless Telecommunication Services—1.8%
American Tower Corp., Class A (a)(b)		2,605	111
Crown Castle International Corp. (b)		2,516	96

			207

Total Common Stock (cost—$9,107)			10,714


EXCHANGE-TRADED FUNDS—0.8%

Pharmaceutical HOLDRs Trust		835	56
SPDR Gold Trust		351	38

Total Exchange-Traded Funds (cost—$87)			94


SHORT TERM INVESTMENTS—13.4%

	Principal Amount (000s)
Repurchase Agreement—4.6%
State Street Bank & Trust Co., dated 3/31/10, 0.01%, due 4/1/10, proceeds $541; collateralized by Federal Home Loan Bank Discount Notes, zero coupon, due 4/9/10, valued at $555 (cost—$541)	$	541	541

U.S. Treasury Bills—8.8%
0.01%-1.01%, 4/22/10- 5/13/10 (cost—$1,030)		1,030	1,030

Total Short Term Investments (cost—$1,571)			1,571


	Contracts	Value* (000s)
OPTIONS PURCHASED (b)—2.6%
Call Options—2.5%
Aetna, Inc. (CBOE),
strike price $31, expires 7/17/10	18	$	9
Cameron International Corp. (CBOE),
strike price $45, expires 5/22/10	48		6
Cisco Systems, Inc. (CBOE),
strike price $24, expires 4/17/10	31		6
strike price $25, expires 1/22/11	107		32
Crown Castle International Corp. (CBOE),
strike price $40, expires 1/22/11	17		5
FMC Technologies, Inc. (CBOE),
strike price $70, expires 10/16/10	32		14
FTI Consulting, Inc. (CBOE),
strike price $50, expires 1/22/11	13		2
Hewlett-Packard Co. (CBOE),
strike price $50, expires 1/22/11	67		43
Human Genome Sciences, Inc. (CBOE),
strike price $30, expires 1/22/11	92		63
Intel Corp. (CBOE),
strike price $23, expires 4/17/10	144		4
Longtop Financial Technologies Ltd. (CBOE),
strike price $35, expires 9/18/10	35		11
Morgan Stanley (CBOE),
strike price $32.50, expires 1/22/11	38		9
Motorola, Inc. (CBOE),
strike price $9, expires 4/17/10	46		—	(c)
Navistar International Corp. (CBOE),
strike price $45, expires 1/22/11	68		44
Precision Castparts Corp. (CBOE),
strike price $125, expires 1/22/11	16		23
St. Jude Medical, Inc. (CBOE),
strike price $45, expires 5/22/10	50		2
Vertex Pharmaceuticals, Inc. (CBOE),
strike price $40, expires 1/22/11	24		18

			291

Put Options—0.1%
Powershares QQQ (CBOE),
strike price $46, expires 5/22/10	80		4
SPDR S&P 500 ETF Trust (CBOE),
strike price $115, expires 6/19/10	50		16

			20

Total Options Purchased (cost—$294)			311

Total Investments before options written and securities sold short (cost—$11,059)—108.0%		$	12,690


	Contracts	Value* (000s)
OPTIONS WRITTEN (b)—(5.8)%
Call Options—(3.5)%
Adobe Systems, Inc. (CBOE),
strike price $35, expires 4/17/10	19	$	(2	)
Aetna, Inc. (CBOE),
strike price $38, expires 7/17/10	18		(2	)
Alcon, Inc. (CBOE),
strike price $165, expires 8/21/10	7		(2	)
Amazon.com, Inc. (CBOE),
strike price $100, expires 1/22/11	3		(12	)
Apple, Inc. (CBOE),
strike price $270, expires 1/22/11	10		(14	)
Autodesk, Inc. (CBOE),
strike price $30, expires 1/22/11	28		(9	)
Brocade Communications Systems, Inc. (CBOE),
strike price $15, expires 1/22/11	90		—	(c)
Cisco Systems, Inc. (CBOE),
strike price $26, expires 4/17/10	31		(1	)
strike price $30, expires 1/22/11	107		(9	)
Cooper Industries PLC (CBOE),
strike price $40, expires 7/17/10	30		(24	)
Corning, Inc. (CBOE),
strike price $22, expires 8/21/10	18		(2	)
Crown Castle International Corp. (CBOE),
strike price $45, expires 1/22/11	17		(2	)
Discover Financial Services (CBOE),
strike price $15, expires 1/22/11	153		(30	)
Exxon Mobil Corp. (CBOE),
strike price $65, expires 1/22/11	6		(3	)
FMC Technologies, Inc. (CBOE),
strike price $80, expires 10/16/10	32		(5	)
Freeport-McMoRan Copper & Gold, Inc. (CBOE),
strike price $60, expires 1/22/11	3		(8	)
FTI Consulting, Inc. (CBOE),
strike price $60, expires 1/22/11	13		—	(c)
Hewlett-Packard Co. (CBOE),
strike price $60, expires 1/22/11	67		(13	)
Human Genome Sciences, Inc. (CBOE),
strike price $45, expires 1/22/11	92		(17	)
Juniper Networks, Inc. (CBOE),
strike price $30, expires 1/22/11	26		(10	)
Las Vegas Sands Corp. (CBOE),
strike price $20, expires 1/22/11	107		(56	)
Microsoft Corp. (CBOE),
strike price $34, expires 7/17/10	52		(1	)
Morgan Stanley (CBOE),
strike price $42.50, expires 1/22/11	38		(1	)


	Contracts	Value* (000s)
Navistar International Corp. (CBOE),
strike price $60, expires 1/22/11	68	$	(14	)
Polycom, Inc. (CBOE),
strike price $20, expires 1/22/11	60		(70	)
Precision Castparts Corp. (CBOE),
strike price $150, expires 1/22/11	16		(8	)
QUALCOMM, Inc. (CBOE),
strike price $50, expires 1/22/11	13		(2	)
Research In Motion Ltd. (CBOE),
strike price $70, expires 6/19/10	10		(8	)
strike price $80, expires 1/22/11	8		(7	)
SandRidge Energy, Inc. (CBOE),
strike price $10, expires 1/22/11	18		(2	)
Seagate Technology LLC (CBOE),
strike price $20, expires 6/19/10	34		(3	)
SPDR S&P 500 ETF Trust (CBOE),
strike price $124, expires 6/19/10	50		(4	)
Thermo Fisher Scientific, Inc. (CBOE),
strike price $55, expires 9/18/10	32		(6	)
Urban Outfitters, Inc. (CBOE),
strike price $17.50, expires 1/22/11	19		(39	)
Vertex Pharmaceuticals, Inc. (CBOE),
strike price $50, expires 1/22/11	24		(9	)
Weatherford International Ltd. (CBOE),
strike price $12.50, expires 1/22/11	29		(12	)

			(407	)

Put Options—(2.3)%
Abbott Laboratories (CBOE),
strike price $52.50, expires 4/17/10	26		(2	)
Aetna, Inc. (CBOE),
strike price $29, expires 7/17/10	18		(1	)
strike price $25, expires 1/22/11	20		(2	)
Alcon, Inc. (CBOE),
strike price $140, expires 8/21/10	7		(1	)
Amazon.com, Inc. (CBOE),
strike price $100, expires 1/22/11	10		(6	)
strike price $105, expires 1/22/11	12		(8	)
American Express Co. (CBOE),
strike price $40, expires 1/22/11	32		(13	)
Apple, Inc. (CBOE),
strike price $140, expires 4/17/10	3		—	(c)
strike price $160, expires 1/22/11	10		(4	)
strike price $185, expires 1/22/11	16		(14	)
Avon Products, Inc. (CBOE),
strike price $29, expires 10/16/10	70		(8	)
Baidu, Inc. (CBOE),
strike price $260, expires 6/19/10	3		—	(c)


	Contracts	Value* (000s)
Bank of America Corp. (CBOE),
strike price $12.50, expires 1/22/11	85	$	(5	)
strike price $15, expires 1/22/11	36		(4	)
Cameron International Corp. (CBOE),
strike price $35, expires 1/22/11	48		(11	)
Cardinal Health, Inc. (CBOE),
strike price $30, expires 1/22/11	18		(2	)
Cisco Systems, Inc. (CBOE),
strike price $20, expires 1/22/11	107		(6	)
strike price $21, expires 4/17/10	31		—	(c)
Crown Castle International Corp. (CBOE),
strike price $30, expires 1/22/11	17		(2	)
FedEx Corp. (CBOE),
strike price $75, expires 4/17/10	20		—	(c)
FMC Technologies, Inc. (CBOE),
strike price $55, expires 10/10/10	32		(9	)
Freeport-McMoRan Copper & Gold, Inc. (CBOE),
strike price $60, expires 1/22/11	7		(2	)
FTI Consulting, Inc. (CBOE),
strike price $40, expires 1/22/11	13		(6	)
Goldman Sachs Group, Inc. (CBOE),
strike price $165, expires 4/17/10	6		(1	)
Hewlett-Packard Co. (CBOE),
strike price $40, expires 1/22/11	67		(7	)
Human Genome Sciences, Inc. (CBOE),
strike price $15, expires 1/22/11	92		(9	)
strike price $20, expires 1/22/11	92		(20	)
Intel Corp. (CBOE),
strike price $18, expires 10/16/10	144		(7	)
IntercontinentalExchange, Inc. (CBOE),
strike price $95, expires 6/19/10	5		(1	)
InterOil Corp. (CBOE),
strike price $45, expires 1/22/11	10		(6	)
KB Home (CBOE),
strike price $12.50, expires 4/17/10	80		—	(c)
expires 1/22/11	73		(7	)
Longtop Financial Technologies Ltd. (CBOE),
strike price $25, expires 9/18/10	35		(5	)
Medco Health Solutions, Inc. (CBOE),
strike price $60, expires 1/22/11	4		(1	)
Microsoft Corp. (CBOE),
strike price $27, expires 7/17/10	19		(1	)
Morgan Stanley (CBOE),
strike price $27.50, expires 1/22/11	38		(11	)
Navistar International Corp. (CBOE),
strike price $30, expires 10/16/10	51		(4	)
strike price $30, expires 1/22/11	68		(9	)


	Contracts	Value* (000s)
Peabody Energy Corp. (CBOE),
strike price $40, expires 1/22/11	26	$	(10	)
Powershares QQQ (CBOE),
strike price $42, expires 5/22/10	80		(1	)
Precision Castparts Corp. (CBOE),
strike price $110, expires 1/22/11	16		(11	)
QUALCOMM, Inc. (CBOE),
strike price $35, expires 7/17/10	60		(3	)
Seagate Technology LLC (CBOE),
strike price $15, expires 6/19/10	34		(1	)
SPDR S&P 500 ETF Trust (CBOE),
strike price $100, expires 6/19/10	50		(3	)
strike price $110, expires 6/19/10	50		(8	)
St. Jude Medical, Inc. (CBOE),
strike price $30, expires 1/22/11	20		(2	)
strike price $35, expires 7/17/10	50		(3	)
strike price $40, expires 7/17/10	49		(9	)
Starwood Hotels & Resorts Worldwide, Inc. (CBOE),
strike price $25, expires 1/22/11	40		(2	)
SunPower Corp. (CBOE),
strike price $15, expires 1/22/11	29		(5	)
expires 1/21/12	29		(10	)
Texas Instruments, Inc. (CBOE),
strike price $20, expires 1/22/11	43		(4	)
Vertex Pharmaceuticals, Inc. (CBOE),
strike price $25, expires 1/22/11	24		(3	)
Visa, Inc. (CBOE),
strike price $70, expires 6/19/10	32		(1	)
Yahoo!, Inc. (CBOE),
strike price $15, expires 1/22/11	22		(2	)

			(273	)

Total Options Written (premiums received—$820)			(680	)


SECURITIES SOLD SHORT—(4.1)%

	Shares
Exchange-Traded Funds—(4.1)%
Powershares QQQ	4,035		(195	)
SPDR S&P 500 ETF Trust, Ser. 1	2,445		(286	)

Total Securities Sold Short (proceeds received—$443)			(481	)

Total Investments net of options written and securities sold short (cost—$9,796)—98.1%			11,529

Other assets less other liabilities—1.9%			223

Net Assets—100.0%		$	11,752


	Shares	Value* (000s)
COMMON STOCK—87.4%
Auto Components—1.0%
Johnson Controls, Inc.	323,640	$	10,677

Communications Equipment—14.7%
Adtran, Inc.	285,560		7,524
Blue Coat Systems, Inc. (c)	59,795		1,856
Ciena Corp. (c)	270,450		4,122
Cisco Systems, Inc. (c)	1,842,985		47,973
F5 Networks, Inc. (b)(c)	711,780		43,782
Finisar Corp. (c)	133,765		2,101
JDS Uniphase Corp. (c)	615,710		7,715
Juniper Networks, Inc. (b)(c)	610,975		18,745
Motorola, Inc. (c)	35,620		250
Polycom, Inc. (c)	214,925		6,572
Riverbed Technology, Inc. (c)	512,735		14,562
Tellabs, Inc.	804,800		6,092

			161,294

Computers & Peripherals—6.9%
Acer, Inc. GDR	6,210		91
Apple, Inc. (b)(c)	204,853		48,126
EMC Corp. (b)(c)	557,600		10,059
Hewlett-Packard Co.	173,975		9,247
HTC Corp.	18,150		212
NetApp, Inc. (c)	245,410		7,990

			75,725

Construction & Engineering—0.0%
Fluor Corp.	970		45

Diversified Telecommunication Services—0.2%
China Telecom Corp. Ltd. ADR	36,420		1,784

Electrical Equipment—2.7%
Canadian Solar, Inc. (c)	72,800		1,770
First Solar, Inc. (c)	14,490		1,777
SMA Solar Technology AG	13,550		1,662
Solarworld AG	2,050		31
SunPower Corp., Class B (c)	1,334,150		22,334
Suntech Power Holdings Co., Ltd. ADR (c)	89,555		1,255

			28,829

Electronic Equipment, Instruments & Components—4.1%
Amphenol Corp., Class A	245,010		10,337
Hitachi Ltd. (c)	4,499,000		16,739
Itron, Inc. (b)(c)	241,555		17,530

			44,606

Health Care Technology—1.6%
athenahealth, Inc. (c)	471,900		17,253


	Shares	Value* (000s)
Hotels, Restaurants & Leisure—0.8%
Ctrip.com International Ltd. ADR (c)	225,890	$	8,855

Internet & Catalog Retail—6.4%
Amazon.com, Inc. (b)(c)	284,530		38,619
Expedia, Inc.	64,975		1,622
NetFlix, Inc. (b)(c)	411,080		30,313

			70,554

Internet Software & Services—11.4%
Akamai Technologies, Inc. (c)	612,400		19,235
Alibaba.com Ltd.	136,000		272
Baidu, Inc. ADR (b)(c)	71,572		42,728
eBay, Inc. (c)	918,870		24,764
Equinix, Inc. (b)(c)	69,276		6,743
Google, Inc., Class A (b)(c)	29,920		16,965
SINA Corp. (c)	25,665		967
Tencent Holdings Ltd.	108,683		2,176
WebMD Health Corp. (c)	156,935		7,279
Yahoo! Japan Corp.	10,340		3,772

			124,901

IT Services—6.2%
Accenture PLC, Class A	34,870		1,463
Cognizant Technology Solutions Corp., Class A (c)	553,600		28,223
MasterCard, Inc., Class A	43,000		10,922
Visa, Inc., Class A	301,960		27,487

			68,095

Semiconductors & Semiconductor Equipment—8.5%
Aixtron AG	190,605		6,851
Analog Devices, Inc.	771,340		22,230
Cree, Inc. (c)	59,740		4,195
Cypress Semiconductor Corp. (c)	810,490		9,321
Epistar Corp.	920,000		3,056
Fairchild Semiconductor International, Inc. (c)	73,430		782
Infineon Technologies AG (c)	78,096		541
Intel Corp.	854,275		19,016
Lam Research Corp. (c)	83,000		3,098
ON Semiconductor Corp. (c)	2,032,030		16,256
Seoul Semiconductor Co., Ltd.	186,821		7,197
Taiwan Semiconductor Manufacturing Co., Ltd.	486,923		943

			93,486

Software—20.8%
Activision Blizzard, Inc.	168,970		2,038
Adobe Systems, Inc. (c)	166,870		5,902
AsiaInfo Holdings, Inc. (c)	155,390		4,115
Autodesk, Inc. (c)	58,740		1,728
Autonomy Corp. PLC (c)	117,340		3,243


	Shares		Value* (000s)
Concur Technologies, Inc. (c)		39,775	$	1,631
Informatica Corp. (c)		544,155		14,616
Intuit, Inc. (c)		446,040		15,317
Longtop Financial Technologies Ltd. ADR (c)		242,368		7,807
McAfee, Inc. (c)		196,035		7,867
Microsoft Corp. (b)		1,122,175		32,846
Misys PLC (c)		189,765		698
Nuance Communications, Inc. (c)		116,900		1,945
Oracle Corp. (b)		2,091,280		53,725
Red Hat, Inc. (c)		27,005		790
Salesforce.com, Inc. (b)(c)		522,618		38,909
SuccessFactors, Inc. (c)		949,100		18,071
Symantec Corp. (c)		100		2
TIBCO Software, Inc. (c)		997,460		10,763
Vmware, Inc., Class A (c)		118,000		6,289

				228,302

Wireless Telecommunication Services—2.1%
American Tower Corp., Class A (c)		36,325		1,548
Bharti Airtel Ltd.		138,625		968
Crown Castle International Corp. (c)		20,300		776
SBA Communications Corp., Class A (c)		532,195		19,196
Softbank Corp.		17,000		420

				22,908

Total Common Stock (cost—$743,055)				957,314


	Principal Amount (000s)

Repurchase Agreement—6.3%
State Street Bank & Trust Co., dated 3/31/10, 0.01%, due 4/1/10, proceeds $69,248; collateralized by Fannie Mae Discount Notes, zero coupon, due 4/21/10, valued at $35,000; Federal Home Loan Bank Discount Notes, zero coupon, due 4/9/10, valued at $11,105; and Federal Home Loan Bank Discount Notes, zero coupon, due 4/23/10, valued at $24,530 (cost—$69,248)	$	69,248		69,248


	Contracts	Value* (000s)

OPTIONS PURCHASED (c)—5.1%
Call Options—4.9%
Activision Blizzard, Inc. (CBOE),
strike price $15, expires 1/22/11	31,240	$	1,500
Adobe Systems, Inc. (CBOE),
strike price $35, expires 7/17/10	5,000		1,150
Amazon.com, Inc. (CBOE),
strike price $135, expires 1/22/11	1,028		1,927
American Tower Corp. (CBOE),
strike price $40, expires 1/22/11	6,000		3,540
Apple, Inc. (CBOE),
strike price $220, expires 1/22/11	800		2,886
expires 1/21/12	1,170		6,213
Cisco Systems, Inc. (CBOE),
strike price $26, expires 5/22/10	8,000		728
strike price $27.50, expires 1/22/11	8,000		1,368
strike price $30, expires 1/21/12	6,700		1,487
Equinix, Inc. (CBOE),
strike price $75, expires 1/22/11	660		1,713
Google, Inc. (CBOE),
strike price $570, expires 9/18/10	720		2,808
Hewlett-Packard Co. (CBOE),
strike price $50
expires 5/22/10	7,600		2,964
expires 1/22/11	12,300		7,933
Longtop Financial Technologies Ltd. (CBOE),
strike price $35, expires 9/18/10	4,470		1,386
Microsoft Corp. (CBOE),
strike price $27.50, expires 1/22/11	26,000		8,970
Monsanto Co. (CBOE),
strike price $90, expires 1/22/11	700		117
Riverbed Technology, Inc. (CBOE),
strike price $25, expires 1/22/11	6,400		4,096
SanDisk Corp. (CBOE),
strike price $34, expires 7/17/10	8,000		3,200

			53,986

Put Options—0.2%
Autodesk, Inc. (CBOE),
strike price $28, expires 7/17/10	4,800		600
Dolby Laboratories, Inc. (CBOE),
strike price $55, expires 6/19/10	4,000		630
Powershares QQQ (CBOE),
strike price $46, expires 5/22/10	19,832		1,091
QUALCOMM, Inc. (CBOE),
strike price $39, expires 4/17/10	5,200		62

			2,383

Total Options Purchased (cost—$46,791)			56,369


	Contracts	Value* (000s)
Total Investments before options written and securities sold short (cost—$859,094)—98.8%		$	1,082,931


OPTIONS WRITTEN (c)—(3.2)%

Call Options—(1.3)%
Akamai Technologies, Inc. (CBOE),
strike price $33, expires 8/21/10	2,500		(590	)
Baidu, Inc. (CBOE),
strike price $560, expires 6/19/10	100		(635	)
strike price $600, expires 6/19/10	350		(1,502	)
Cognizant Technology Solutions Corp. (CBOE),
strike price $55, expires 7/17/10	2,500		(412	)
Cypress Semiconductor Corp. (CBOE),
strike price $13, expires 6/19/10	7,313		(219	)
eBay, Inc. (CBOE),
strike price $28, expires 7/17/10	4,000		(560	)
Equinix, Inc. (CBOE),
strike price $100, expires 6/19/10	660		(290	)
strike price $105, expires 9/18/10	386		(176	)
F5 Networks, Inc. (CBOE),
strike price $70, expires 5/22/10	2,000		(180	)
Google, Inc. (CBOE),
strike price $630, expires 6/19/10	200		(140	)
Hewlett-Packard Co. (CBOE),
strike price $60, expires 1/22/11	12,300		(2,331	)
Johnson Controls, Inc. (CBOE),
strike price $33, expires 7/17/10	2,183		(404	)
Mastercard, Inc. (CBOE),
strike price $260, expires 4/17/10	623		(159	)
NetApp, Inc. (CBOE),
strike price $33, expires 6/19/10	1,975		(306	)
NetFlix, Inc. (CBOE),
strike price $70, expires 6/19/10	1,930		(1,583	)
Riverbed Technology, Inc. (CBOE),
strike price $30, expires 6/19/10	6,800		(1,020	)
Salesforce.com, Inc. (CBOE),
strike price $80, expires 5/22/10	2,300		(414	)
SanDisk Corp. (CBOE),
strike price $40, expires 7/17/10	8,000		(1,200	)
Visa, Inc. (CBOE),
strike price $85, expires 6/19/10	2,113		(1,627	)
Vmware, Inc. (CBOE),
strike price $55, expires 7/17/10	880		(264	)

			(14,012	)


	Contracts	Value* (000s)
Put Options—(1.9)%
Activision Blizzard, Inc. (CBOE),
strike price $10, expires 1/22/11	31,240	$	(1,812	)
Adobe Systems, Inc. (CBOE),
strike price $30, expires 7/17/10	5,000		(238	)
Amazon.com, Inc. (CBOE),
strike price $100, expires 1/22/11	1,028		(555	)
American Tower Corp. (CBOE),
strike price $35, expires 1/22/11	7,280		(1,001	)
Apple, Inc. (CBOE),
strike price $175, expires 1/22/11	800		(524	)
strike price $180, expires 1/21/12	770		(1,321	)
strike price $190, expires 1/21/12	400		(830	)
Autodesk, Inc. (CBOE),
strike price $24, expires 7/17/10	4,800		(156	)
Cisco Systems, Inc. (CBOE),
strike price $21, expires 4/17/10	10,000		(20	)
strike price $22.50, expires 1/22/11	8,000		(840	)
strike price $25, expires 1/21/12	6,700		(1,910	)
Ctrip.com International Ltd. (CBOE),
strike price $29, expires 6/19/10	3,040		(107	)
Dolby Laboratories, Inc. (CBOE),
strike price $50, expires 6/19/10	4,000		(200	)
eBay, Inc. (CBOE),
strike price $21, expires 4/17/10	18,000		(36	)
Electronic Arts, Inc. (CBOE),
strike price $15, expires 6/19/10	2,530		(37	)
Equinix, Inc. (CBOE),
strike price $55, expires 1/22/11	660		(56	)
Google, Inc. (CBOE),
strike price $510, expires 6/19/10	600		(444	)
strike price $520, expires 9/18/10	720		(1,390	)
Hewlett-Packard Co. (CBOE),
strike price $40, expires 1/22/11	12,300		(1,279	)
strike price $42, expires 5/22/10	13,600		(129	)
Itron, Inc. (CBOE),
strike price $55, expires 8/21/10	1,600		(148	)
Longtop Financial Technologies Ltd. (CBOE),
strike price $25, expires 9/18/10	4,470		(604	)
Mastercard, Inc. (CBOE),
strike price $210, expires 7/17/10	500		(132	)
Microsoft Corp. (CBOE),
strike price $22.50, expires 1/22/11	40,600		(2,801	)
Monsanto Co. (CBOE),
strike price $70, expires 1/22/11	700		(483	)
Motorola, Inc. (CBOE),
strike price $5, expires 1/22/11	42,600		(852	)
Polycom, Inc. (CBOE),
strike price $20, expires 7/17/10	2,014		(30	)


	Contracts	Value* (000s)
Powershares QQQ (CBOE),
strike price $42, expires 5/22/10	19,832	$	(297	)
QUALCOMM, Inc. (CBOE),
strike price $34, expires 4/17/10	5,200		(16	)
Riverbed Technology, Inc. (CBOE),
strike price $20, expires 1/22/11	6,400		(752	)
Sohu.com, Inc. (CBOE),
strike price $45, expires 6/19/10	663		(56	)
strike price $50, expires 6/19/10	1,500		(285	)
SunPower Corp. (CBOE),
strike price $20, expires 6/19/10	7,287		(1,712	)

			(21,053	)

Total Options Written (premiums received—$62,228)			(35,065	)


SECURITIES SOLD SHORT—(11.8)%

	Shares
Chemicals—(0.4)%
Monsanto Co.	58,200		(4,157	)
Mosaic Co.	100		(6	)

			(4,163	)

Computers & Peripherals—(1.3)%
Seagate Technology (c)	256,800		(4,735	)
Toshiba Corp. (c)	964,000		(4,989	)
Western Digital Corp. (c)	120,700		(4,706	)

			(14,430	)

Electrical Equipment—(1.9)%
Q-Cells SE (c)	37,395		(372	)
SunPower Corp., Class A (c)	1,062,200		(20,076	)

			(20,448	)

Exchange-Traded Funds—(5.1)%
iShares MSCI Emerging Markets Index Fund	848,200		(35,726	)
Powershares QQQ	130,080		(6,267	)
SPDR S&P 500 ETF Trust, Ser. 1	123,400		(14,437	)

			(56,430	)

Internet Software & Services—(1.0)%
Sohu.com, Inc. (c)	209,185		(11,421	)

Semiconductors & Semiconductor Equipment—(2.1)%
Applied Materials, Inc.	296,080		(3,991	)
ASML Holding NV	100		(4	)
RF Micro Devices, Inc. (c)	873,500		(4,350	)
Skyworks Solutions, Inc. (c)	412,600		(6,436	)
Taiwan Semiconductor Manufacturing Co., Ltd. ADR	734,200		(7,702	)

			(22,483	)

Total Securities Sold Short (proceeds received—$127,514)			(129,375	)


	Value* (000s)
Total Investments net of options written and securities sold short (cost—$669,352) (a)—83.8%	$	918,491

Other assets less other liabilities—16.2%		177,384

Net Assets—100.0%	$	1,095,875

Notes to Schedule of Investments

(amounts in thousands):

(a)	Securities with an aggregate value of $43,420, representing 4.0% of net assets, were valued utilizing modeling tools provided by a third- party vendor.

(b)	All or partial amount segregated as collateral for options written and securities sold short.

(c)	Non-income producing.

Glossary:

ADR—American Depositary Receipt

CBOE—Chicago Board Options Exchange

ETF—Exchange Traded Fund

GDR—Global Depositary Receipt


	Shares	Value* (000s)
COMMON STOCK—98.0%

Biotechnology—14.4%
Amylin Pharmaceuticals, Inc. (c)	33,750	$	759
Celgene Corp. (c)	43,390		2,688
Human Genome Sciences, Inc. (c)	214,100		6,466
Keryx Biopharmaceuticals, Inc. (c)	523,642		1,435
Momenta Pharmaceuticals, Inc. (c)	45,300		678
Onyx Pharmaceuticals, Inc. (c)	62,385		1,889
OSI Pharmaceuticals, Inc. (c)	28,390		1,691
Pharmasset, Inc. (c)	51,620		1,383
United Therapeutics Corp. (c)	24,375		1,349
Vertex Pharmaceuticals, Inc. (c)	33,300		1,361

			19,699

Food & Staples Retailing—2.1%
CVS Caremark Corp.	80,700		2,950

Food Products—4.9%
Astra Agro Lestari Tbk PT	550,000		1,484
Danone	34,375		2,070
General Mills, Inc.	20,600		1,458
Kuala Lumpur Kepong Bhd.	333,400		1,705

			6,717

Health Care Equipment & Supplies—14.3%
Alcon, Inc.	21,760		3,516
Cie Generale d’Optique Essilor International S.A.	26,440		1,688
Edwards Lifesciences Corp. (c)	39,200		3,876
Inverness Medical Innovations, Inc. (c)	33,100		1,289
MAKO Surgical Corp. (c)	49,000		661
NuVasive, Inc. (c)	45,570		2,060
St. Jude Medical, Inc. (c)	66,900		2,746
Volcano Corp. (c)	65,400		1,580
Zimmer Holdings, Inc. (c)	38,100		2,256

			19,672

Health Care Providers & Services—26.2%
Aetna, Inc.	134,040		4,706
Cardinal Health, Inc.	133,600		4,814
Community Health Systems, Inc. (c)	54,400		2,009
Express Scripts, Inc. (b)(c)	105,000		10,685
Fresenius Medical Care AG & Co. KGaA	28,230		1,590
McKesson Corp.	56,700		3,726
Medco Health Solutions, Inc. (c)	38,100		2,460
UnitedHealth Group, Inc.	183,200		5,985

			35,975

Health Care Technology—0.7%
athenahealth, Inc. (c)	24,680		902

Life Sciences Tools & Services—8.7%
Illumina, Inc. (c)	35,235		1,371


	Shares		Value* (000s)
Life Technologies Corp. (c)		46,000	$	2,404
Mettler Toledo International, Inc. (c)		19,700		2,151
Qiagen NV (c)		92,410		2,124
Thermo Fisher Scientific, Inc. (c)		76,100		3,915

				11,965

Personal Products—1.0%
Herbalife Ltd.		30,200		1,393

Pharmaceuticals—21.6%
Abbott Laboratories		103,200		5,437
Allergan, Inc.		70,700		4,618
Bayer AG		46,065		3,113
Mylan, Inc. (c)		74,600		1,694
Perrigo Co.		27,600		1,621
Pfizer, Inc.		184,400		3,162
Sanofi-Aventis S.A.		27,075		2,020
Shire PLC		199,450		4,396
Teva Pharmaceutical Industries Ltd. ADR		56,130		3,541

				29,602

Specialty Retail—0.8%
Vitamin Shoppe, Inc. (c)		49,220		1,105

Textiles, Apparel & Luxury Goods—3.3%
Adidas AG		24,730		1,322
Lululemon Athletica, Inc. (c)		40,900		1,697
Nike, Inc., Class B		20,200		1,485

				4,504

Total Common Stock (cost—$107,847)				134,484


	Principal Amount (000s)
Repurchase Agreement—2.0%
State Street Bank & Trust Co., dated 3/31/10, 0.01%, due 4/1/10, proceeds $2,698; collateralized by Fannie Mae, 1.722%, due 5/10/11, valued at $2,756 including accrued interest (cost—$2,698)	$	2,698		2,698


	Contracts	Value* (000s)
OPTIONS PURCHASED (c)—0.2%
Call Options—0.2%
Aetna, Inc. (CBOE),
strike price $31, expires 7/17/10	464	$	239
St. Jude Medical, Inc. (CBOE),
strike price $45, expires 5/22/10	1,181		47

Total Options Purchased (cost—$199)			286

Total Investments before options written (cost—$110,744)—100.2%			137,468


OPTIONS WRITTEN (c)—(0.2)%

Call Options—(0.1)%
Aetna, Inc. (CBOE),
strike price $38, expires 7/17/10	464		(64	)

Put Options—(0.1)%
Aetna, Inc. (CBOE),
strike price $25, expires 1/22/11	520		(46	)
strike price $29, expires 7/17/10	464		(29	)
Medco Health Solutions, Inc. (CBOE),
strike price $60, expires 1/22/11	112		(41	)
St. Jude Medical, Inc. (CBOE),
strike price $35, expires 7/17/10	1,181		(65	)

			(181	)

Total Options Written (premiums received—$399)			(245	)

Total Investments net of options written (cost—$110,345) (a)—100.0%			137,223

Other assets less other liabilities—0.0%			11

Net Assets—100.0%		$	137,234

Notes to Schedule of Investments

(amounts in thousands):

(a)	Securities with an aggregate value of $19,388, representing 14.1% of net assets, were valued utilizing modeling tools provided by a third-party vendor.

(b)	All or partial amount segregated as collateral for options written.

(c)	Non-income producing.

Glossary:

ADR—American Depositary Receipt

CBOE—Chicago Board Options Exchange

Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (i.e. the “exit price”) in an orderly transaction between market participants. The three levels of the fair value hierarchy are described below:

An investment asset’s or liability’s level within the fair value hierarchy is based on the lowest level input, individually or in the aggregate, that is significant to fair value measurement. The objective of fair value measurement remains the same even when there is a significant decrease in the volume and level of activity for an asset or liability and regardless of the valuation technique used.

The valuation techniques used by the Funds to measure fair value during the nine months ended March 31, 2010 maximized the use of observable inputs and minimized the use of unobservable inputs. When fair-valuing securities, the Funds utilized the estimation of the price that would have prevailed in a liquid market for an international equity given information available at the time of evaluation and multi- dimensional relational pricing models.

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

The Funds’ policy is to recognize transfers between levels at the end of the reporting period.

A summary of the inputs used at March 31, 2010 in valuing the Funds’ assets and liabilities is listed below (amounts in thousands):

There were no significant transfers into and out of Levels 1 and 2 during the nine months ended March 31, 2010.

A roll forward of fair value measurements using significant unobservable inputs (Level 3) for the nine months ended March 31, 2010, was as follows (amounts in thousands):

* Portfolio securities and other financial instruments for which market quotations are readily available are stated at market value. Market value is generally determined on the basis of last reported sales prices, or if no sales are reported, on the basis of quotes obtained from a quotation reporting system, established market makers, or independent pricing services.

Portfolio securities and other financial instruments for which market quotations are not readily available or if a development occurs that may significantly impact the value of a security are fair valued, in good faith, pursuant to procedures established by the Board of Trustees or persons acting at their direction pursuant to procedures approved by the Board of Trustees. The Funds’ investments are valued daily using prices supplied by an independent pricing service or dealer quotations or by using the last sale price on the exchange that is the primary market for such securities, or the mean between the last quoted bid and ask price for those securities for which the over-the-counter market is the primary market or for listed securities in which there were no sales. The market value for NASDAQ National Market and Small Cap Securities may also be calculated using the NASDAQ Official Closing Price instead of the last reported sales price. Independent pricing services use information provided by market makers or estimates of market values obtained from yield data relating to investments or securities with similar characteristics. Short-term investments maturing in 60 days or less are valued at amortized cost, if their original term to maturity was 60 days or less, or by amortizing their value on the 61st day prior to maturity, if the original term to maturity exceeded 60 days. Investments initially valued in currencies other than U.S. dollar are converted to the U.S. dollar using exchange rates obtained from pricing services. As a result, the net asset value (“NAV”) of each Fund’s shares may be affected by changes in the value of currencies in relation to the U.S. dollar. The value of securities traded in markets outside the United States or denominated in currencies other than the U.S. dollar may be affected significantly on a day that the New York Stock Exchange (“NYSE”) is closed.

The prices used by the Funds to value securities may differ from the value that would be realized if the securities were sold and these differences could be material. Each Fund’s NAV is determined as of the close of regular trading (normally 4:00 p.m., Eastern time) on each day the NYSE is open for business.

The prices of certain portfolio securities or financial instruments may be determined at a time prior to the close of regular trading on the NYSE. When fair valuing securities, the Funds may, among other things, consider significant events (which may be considered to include changes in the value of U.S. securities or securities indices) that occur after the close of the relevant market and before the time a Fund’s NAV is calculated. With respect to certain foreign securities, the Funds may fair value securities using modeling tools provided by third-party vendors. The Funds have retained a statistical research service to assist in determining the fair value of foreign securities. This service utilizes statistics and programs based on historical performance of markets and other economic data to assist in making fair value estimates. Fair value estimates used by the Funds for foreign securities may differ from the value realized from the sale of those securities and the difference could be material. Fair value pricing may require subjective determinations about the value of a security or other asset, and fair values used to determine a Fund’s NAV may differ from quoted or published prices, or from prices that are used by others, for the same investments. In addition, the use of fair value pricing may not always result in adjustments to the prices of securities or other assets held by a Fund.

(a) The registrant’s President & Chief Executive Officer and Treasurer, Principal Financial & Accounting Officer have concluded that the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Act (17 CFR 270.30a-3(c))), are effective based on their evaluation of these controls and procedures as of a date within 90 days of the filing date of this document.

(b) There were no significant changes in the registrant’s internal controls over financial reporting (as defined in Rule 30a-3(d) under the Act (17 CFR 270.30a-3(d))) that occurred during the registrant’s last fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting.

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.


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1345 Avenue of the Americas New York, New York		10105
(Address of principal executive offices)		(Zip code)


Allianz Funds:
CCM Capital Appreciation Fund
CCM Emerging Companies Fund
CCM Focused Growth Fund
CCM Mid-Cap Fund
NACM Emerging Markets Opportunities Fund
NACM Global Fund
NACM Growth Fund
NACM Income & Growth Fund
NACM International Fund
NACM Mid-Cap Growth Fund
NACM Pacific Rim Fund
NFJ All-Cap Value Fund
NFJ Dividend Value Fund
NFJ International Value Fund
NFJ Large-Cap Value Fund
NFJ Mid-Cap Value Fund
NFJ Renaissance Fund
NFJ Small-Cap Value Fund
OCC Growth Fund
OCC Opportunity Fund
OCC Target Fund
RCM Disciplined International Equity Fund
RCM Global Resources Fund
RCM Global Small-Cap Fund
RCM Large-Cap Growth Fund
RCM Mid-Cap Fund
RCM Strategic Growth Fund
RCM Technology Fund
RCM Wellness Fund


	Principal Amount (000s)		Value* (000s)
Repurchase Agreement—10.4%
State Street Bank & Trust Co., dated 3/31/10, 0.01%, due 4/1/10, proceeds $1,167; collateralized by Fannie Mae, 1.722%, due 5/10/11, valued at $1,194 including accrued interest (cost—$1,167)	$	1,167	$	1,167

Total Investments (cost—$10,615)—105.9%				11,850

Liabilities in excess of other assets—(5.9)%				(662	)

Net Assets—100.0%			$	11,188


	Level 1 - Quoted Prices		Level 2 - Other Significant Observable Inputs		Level 3 - Significant Unobservable Inputs			Value at 3/31/10
CCM Capital Appreciation:
Investments in Securities - Assets
Common Stock	$	914,128		—		—		$	914,128
Repurchase Agreement		—	$	10,085		—			10,085

Total Investments	$	914,128	$	10,085		—		$	924,213


CCM Emerging Companies:
Investments in Securities - Assets
Common Stock	$	76,152		—		—		$	76,152
Repurchase Agreement		—	$	2,914		—			2,914

Total Investments	$	76,152	$	2,914		—		$	79,066


CCM Focused Growth:
Investments in Securities - Assets
Common Stock	$	45,947		—		—		$	45,947
Repurchase Agreement		—	$	1,079		—			1,079

Total Investments	$	45,947	$	1,079		—		$	47,026


CCM Mid-Cap:
Investments in Securities - Assets
Common Stock	$	789,742		—		—		$	789,742

Total Investments	$	789,742		—		—		$	789,742


NACM Emerging Markets Opportunities:
Investments in Securities - Assets
Common Stock:
Brazil	$	15,971		—		—		$	15,971
Chile		176		—		—			176
Hong Kong		508	$	3,827		—			4,335
Israel		2,927		—		—			2,927
Kuwait		—		—	$	82			82
Mexico		2,757		—		—			2,757
Panama		1,021		—		—			1,021
Russia		7,117		3,145		—			10,262
Singapore		1,079		728		—			1,807
United Kingdom		756		464		—			1,220
All Other		—		79,985		—			79,985
Preferred Stock		5,258		—		—			5,258

Total Investments	$	37,570	$	88,149	$	82		$	125,801


NACM Global:
Investments in Securities - Assets
Common Stock:
Brazil	$	1,757		—		—		$	1,757
Canada		764		—		—			764
China		—	$	1,503		—	(a)		1,503
Israel		656		—		—			656
United States		19,467		—		—			19,467
All Other		—		21,633		—			21,633
Preferred Stock		—		681		—			681
Repurchase Agreement		—		1,123		—			1,123

Total Investments	$	22,644	$	24,940		—	(a)	$	47,584


	Beginning Balance 6/30/09			Net Purchases (Sales) and Settlements			Net Realized Gain (Loss)			Net Change in Unrealized Appreciation/ Depreciation			Transfers into Level 3	Transfers out of Level 3	Ending Balance 3/31/10
NACM Emerging Markets Opportunities:
Investments in Securities - Assets
Common Stock:
Korea (Republic of)	$	267		$	(235	)	$	12		$	(44	)	—	—		—
Kuwait		80			135			—			(133	)	—	—	$	82

Total Investments	$	347		$	(100	)	$	12		$	(177	)	—	—	$	82


The net change in unrealized appreciation/depreciation of investments which NACM Emerging Markets Opportunities held at March 31, 2010 was $(133).

NACM Global:
Investments in Securities - Assets
Common Stock:
China		—	(a)	$	299			—		$	(299	)	—	—		—	(a)
Kuwait	$	41			(31	)	$	(386	)		376		—	—		—

Total Investments	$	41		$	268		$	(386	)	$	77		—	—		—	(a)

(a) amount less than $500. The net change in unrealized appreciation/depreciation of investments which NACM Global held at March 31, 2010 was $(299).

NACM Income & Growth:
Investments in Securities - Assets
Convertible Preferred Stock:
Financial Services	$	43			—			—			—		—	—	$	43

Investments in Securities - Liabilities
Options Written, at value	$	(55	)		—		$	81		$	(26	)	—	—		—

Total Investments	$	(12	)		—		$	81		$	(26	)	—	—	$	43


There was no net change in unrealized appreciation/depreciation of investments which NACM Income & Growth held at March 31, 2010.
NACM International:
Investments in Securities - Assets
Rights:
Australia	$	7			—			—		$	(7	)	—	—		—

Total Investments	$	7			—			—		$	(7	)	—	—		—

NFJ All-Cap Value:
Investments in Securities - Assets
Common Stock:
Oil, Gas & Consumable Fuels	$	34			—			—		$	(34	)	—	—		—	(a)
Preferred Stock:
Oil, Gas & Consumable Fuels		101			—			—			(101	)	—	—		—	(a)

Total Investments	$	135			—			—		$	(135	)	—	—		—	(a)

(a) amount less than $500. The net change in unrealized appreciation/depreciation of investments which NFJ All-Cap Value held at March 31, 2010 was $(135).


RCM Global Small-Cap:
Investments in Securities - Assets
Common Stock:
China		—	(a)		—			—			—		—	—		—	(a)

Total Investments		—	(a)		—			—			—		—	—		—	(a)

(a) amount less than $500.

RCM Wellness:
Investments in Securities - Assets
Rights:
Food Products	$	81		$	(74	)	$	74		$	(81	)	—	—		—

Total Investments	$	81		$	(74	)	$	74		$	(81	)	—	—		—


(a)		Exhibit 99.302 Cert. – Certification pursuant to Section 302 of the Sarbanes-Oxley Act of 2002


Registrant: Allianz Funds

By:		/S/ E. BLAKE MOORE, JR.
		President & Chief Executive Officer



By:		/S/ BRIAN S. SHLISSEL
		Treasurer, Principal Financial & Accounting Officer