State Farm Variable Product Trust

June 30, 2006 STATE FARM INSURANCE ® State Farm Variable Product Trust SEMI-ANNUAL REPORT Large Cap Equity Fund Small Cap Equity Fund International Equity Fund Large Cap Equity Index Fund Small Cap Equity Index Fund International Equity Index Fund Stock and Bond Balanced Fund Bond Fund Money Market Fund

This report and any financial information contained herein are submitted for the general information of the owners of interests in State Farm Life Insurance Company and State Farm Life and Accident Assurance Company Variable Life Separate Accounts or Variable Annuity Separate Accounts (the “Accounts”). This report provides the results of operations for each of the Funds of the State Farm Variable Product Trust . It is possible to invest in these underlying Funds only through the purchase of a State Farm Variable Universal Life Insurance policy or State Farm Variable Deferred Annuity policy. Please read the prospectus and consider the investment objectives, charges and expenses and other information it contains about the Accounts carefully before investing.

Variable Deferred Annuity (VA) policy series 97040 & 97090 in all states except MA, MT, NY, WI; 97090 in MT; A97040 & A97090 in NY, WI.

Variable Universal Life (VUL) policy series 97035, and also 97036 in TX, except MA, MT, NY, WI; 97085 in MT; A97035 in NY & WI.

A description of the policies and procedures that the Funds use to determine how to vote proxies relating to portfolio securities, and information regarding how the Funds voted proxies relating to portfolio securities during the most recent 12 month period ended June 30, are available without charge upon request at 1-800-447-4930 and at http://www.sec.gov.

The Funds file complete schedules of portfolio holdings for each Fund with the Securities and Exchange Commission (the “Commission”) for the first and third quarters of each fiscal year on Form N-Q. The Funds’ Forms N-Q are available on the Commission’s website at http://www.sec.gov. The Funds’ Forms N-Q may be reviewed and copied at the Commission’s Public Reference Room in Washington, D.C., and information on the operation of the Public Reference Room may be obtained by calling 1-800-SEC-0330. The Funds make the information on Form N-Q available to shareholders upon request without charge at 1-800-447-4930.

Thank you for purchasing a State Farm^® Variable Product. Enclosed is the Semi-Annual Report for the 6-month period ended June 30, 2006 for the State Farm Variable Product Trust. Included are financial statements and a complete list of portfolio holdings to help you further understand the underlying Funds available through variable deferred annuity and variable universal life insurance policies issued by State Farm Life Insurance Company and State Farm Life and Accident Assurance Company. We encourage your review and consideration of this entire report.

After a relatively strong start in the 1^st quarter, equity and bond markets declined during the 2^nd quarter with concerns over rising interest rates, inflation, and prospects of an economic slowdown. In the domestic equity market, small cap stocks as measured by the Russell 2000^® Index outperformed large cap stocks as measured by the S&P 500^® Index with a gain of 8.21% versus 2.71% year-to-date through June 30, 2006. During the same timeframe, international equity markets overall gained ground in the 2^nd quarter and provided a return of 10.16% as measured by the MSCI EAFE^® Free Index. Among fixed income markets, the Lehman Brothers U.S. Government/Credit Intermediate Bond Index declined -0.17% year-to-date through June 30, 2006.¹

Look for a detailed discussion of factors that impacted the performance of the underlying Funds during 2006 in the next State Farm Variable Product Trust Annual Report.

As a shareholder of a Fund, you incur ongoing costs, including management fees and other Fund expenses. The Example in the following table is intended to help you understand your ongoing costs (in dollars) of investing in a Fund and to compare these costs with the ongoing costs of investing in other funds.

The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period January 1, 2006 through June 30, 2006.

The first line under each Fund name in the table below provides information about actual account values and actual expenses. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value for a Fund by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number in the first line under the heading entitled “Expenses Paid During Period” for the applicable Fund to estimate the expenses you paid on your account for that Fund during this period. If your account has multiple Fund positions, add up the results calculated for each Fund position within your account to estimate the expenses you paid on your total account value.

The second line under each Fund name in the table below provides information about hypothetical account values and hypothetical expenses based on the Fund’s actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the Fund’s actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the Fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds.

Please note that the expenses shown in the table are meant to highlight your ongoing costs only. Therefore, the second line under each Fund name in the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds, including those that have transactional costs, such as sales charges (loads), redemptions fees, or exchange fees.

Board Review of the Continuation of the Investment Advisory Agreement and Continuation of the Investment Sub-Advisory Agreements

At a meeting of the Board of Trustees (the “Board”) of State Farm Variable Product Trust (“VP Trust”) held on June 16, 2006, all of the Trustees present, including those Trustees present who were not interested persons of VP Trust as defined by Section 2(a)(19) of the Investment Company Act of 1940 (the “Independent Trustees”), considered whether (i) to approve continuation of the Investment Advisory and Management Services Agreement between State Farm Investment Management Corp. (“SFIMC”) and VP Trust (the “Advisory Agreement”), (ii) to approve continuation of the Investment Sub-Advisory Agreement between SFIMC, VP Trust and Barclays Global Fund Advisors (“Barclays”), which agreement will be referred to as the “Barclays Sub-Advisory Agreement,” and (iii) to approve continuation of the Investment Sub-Advisory Agreement between SFIMC, VP Trust and Capital Guardian Trust Company (“Capital Guardian”), which agreement will be referred to as the “Capital Guardian Sub-Advisory Agreement.” Together the Barclays Sub-Advisory Agreement and the Capital Guardian Sub-Advisory Agreement will be referred to as the “Sub-Advisory Agreements.”

Barclays serves as the investment sub-adviser to VP Trust’s Large Cap Equity Index Fund, Small Cap Equity Index Fund and International Equity Index Fund (collectively, the “Sub-Advised Equity Index Funds”). In this role, Barclays is primarily responsible for the day-to-day management of the investments of the Sub-Advised Equity Index Funds. Capital Guardian serves as investment sub-adviser to VP Trust’s Large Cap Equity Fund, Small Cap Equity Fund and its International Equity Fund (collectively the “Sub-Advised Equity Funds”). In this role, Capital Guardian is primarily responsible for the day-to-day management of the investments of the Sub-Advised Equity Funds.

Prior to the June 16, 2006 meeting, independent legal counsel to the Independent Trustees of the Board had sent to SFIMC, Barclays and Capital Guardian a request for information to be provided to the Board in connection with the Board’s consideration of continuing the Advisory Agreement and the Sub-Advisory Agreements. SFIMC, Barclays and Capital Guardian provided materials to the Board responding to those requests prior to the meeting. SFIMC also provided the Board with additional information that SFIMC believed would be useful to the Board in evaluating whether to approve continuation of the Advisory Agreement and the Sub-Advisory Agreements. The Board also received a report prepared by Lipper Inc., an independent fund tracking organization, (the “Lipper Report”) relating to the performance and expenses of the nine series of VP Trust (each a “Fund” and collectively the “Funds”) prior to the June 16^th meeting. In addition, the Board received and reviewed a memorandum from the legal counsel to VP Trust and its Independent Trustees regarding their responsibilities (particularly the Independent Trustees’ responsibilities) in considering whether to approve continuation of the agreements.

The Independent Trustees of VP Trust also had conducted a preliminary review of all this material on May 31, 2006 at a separate meeting, during which management of VP Trust expanded on those materials, responded to specific questions from the Independent Trustees and produced enhanced materials in response to specific requests at the June 16^th Board meeting.

As part of the Board’s consideration of whether to approve the continuation of the Advisory Agreement and the Sub-Advisory Agreements, the Independent Trustees met in executive session and were advised by independent legal counsel. The Board considered the investment performance of SFIMC in managing each Fund, the investment performance of Barclays in sub-advising the Sub-Advised Equity Index Funds and the investment performance of Capital Guardian in sub-advising the Sub-Advised Equity Funds, including, as applicable, the year-to-date, one, three, and five year performance of each Fund as compared to the performance of one or more benchmark indexes and a peer group of funds with comparable investment objectives, investment strategies, asset size and load structures (“Peer Funds”).

The Board further considered that the performance of each Sub-Advised Equity Index Fund closely matched the performance of each such Fund’s benchmark index, net of fees. The Board concluded that the net performance of those Funds over the periods reviewed was acceptable and closely tracked their benchmarks.

The Board next reviewed the performance of VP Trust’s Bond Fund, Money Market Fund and the Stock and Bond Balanced Fund. The Lipper Report indicated that the performance of those Funds was competitive with each Fund’s benchmarks and/or indexes and with the performance of each Fund’s Peer Funds. After extensive discussion of this and other information, the Board concluded that the investment performance of the Bond Fund, the Money Market Fund and the Stock and Bond Balanced Fund over the periods reviewed was acceptable.

The Board then considered the since inception performance of the Sub-Advised Equity Funds, each of which is sub-advised by Capital Guardian. The Board extensively reviewed each Fund’s performance compared to benchmarks, an index and to the performance of Peer Funds.

With respect to Capital Guardian’s services provided to the Small Cap Equity Fund, the Board determined that, despite Capital Guardian’s efforts to improve the Fund’s performance compared to its benchmarks, index and its Peer Funds, the Small Cap Equity Fund’s performance over the period examined was less robust than expected. In response to management’s statements that it currently was examining alternatives to Capital Guardian’s continuing as investment sub-adviser to the Small Cap Equity Fund, including possibly seeking a new investment sub-adviser(s), merging the Fund or changing its investment strategy, the Board unanimously agreed that Capital Guardian should be terminated as a sub-adviser to the Small Cap Equity Fund as soon as practicable.

With respect to Capital Guardian’s services provided to the Large Cap Equity Fund and the International Equity Fund, the Board concluded that the performance of those Funds was acceptable.

The Board next examined the fee structure and expense ratio of each Fund, including in comparison to Peer Funds. The Board noted that each Fund’s expense structure and overall fees were competitive as compared to the expense structure and overall fees of the Peer Funds. In connection with examining the fee structure and expense ratio of each Fund, the Board also considered the amount of profits earned (or losses incurred) by SFIMC, Barclays and Capital Guardian in providing advisory or sub-advisory services to each Fund. The Board concluded that the advisory and sub-advisory fees, which directly or indirectly are part of each Fund’s fee structure and expense ratio, were reasonable and appropriate for the shareholders and that the amount of net income earned by each entity (if any) with respect to each Fund was within industry standards.

The Board considered the nature, extent and quality of the advisory and sub-advisory services provided by SFIMC, Barclays and Capital Guardian to the Funds. The Board considered the make-up, education and experience of the teams responsible for managing the Funds at SFIMC, Barclays and Capital Guardian, and concluded that, except with respect to Capital Guardian’s sub-advisory services provided to the Small Cap Equity Fund, each organization’s investment management team has a satisfactory, long-term track record. The Board considered that SFIMC has been engaged in the business of managing mutual funds since 1968, and that as of December 31, 2005, SFIMC managed more than $9.6 billion in assets. The Board noted that Barclays is one of the largest investment managers in the world, with over $1.5 trillion in assets under management as of December 31, 2005, including 2,000 funds that track over 2,000 indexes. The Board noted that Capital Guardian had approximately $157 billion of assets under management as of December 31, 2005, and that it was part of one of the largest investment managers in the world. After considering all of this information, the Board concluded that SFIMC, Barclays and Capital Guardian each had more than sufficient resources and expertise to continue to manage or sub-advise the Funds, and that given the past experience of each, SFIMC, Barclays and Capital Guardian (except with respect to Capital Guardian’s sub-advisory services provided to the Small Cap Equity Fund) would be able to continue to provide satisfactory services to VP Trust.

The Board next discussed the extent to which economies of scale will be realized as each Fund grows and whether each Fund’s fee levels reflect economies of scale for the benefit of the Fund. SFIMC explained to the Board that economies of scale occur when a mutual fund’s expenses per unit, such as per dollar invested in the fund, decrease as the fund increases in size. One way a mutual fund company achieves economies of scale is to lower the average cost per unit by spreading fixed costs over a larger asset base. As the Funds within VP Trust grow, each Fund’s fixed costs will be spread over a larger asset base, so a Fund’s fee levels will reflect economies of scale for the benefit of the Fund as the Fund grows. The Board discussed the fact that the advisory fees payable by VP Trust to SFIMC are a flat percentage of each Fund’s average daily net assets, and that the percentage does not decrease as a Fund increases in size. In tandem with monitoring SFIMC’s profitability, the Board determined to continue to monitor whether it is appropriate for SFIMC to continue to charge a level percentage advisory fee to the Funds within VP Trust.

The Board next discussed whether SFIMC, Barclays or Capital Guardian derive any other direct or indirect benefits from serving as investment adviser or investment sub-adviser to the Funds. SFIMC indicated to the Board that it was not aware of any ancillary or other benefits (other than fees) that SFIMC, Barclays or Capital Guardian (and each company’s respective affiliates) receive for providing various services to VP Trust, particularly because SFIMC, Barclays or Capital Guardian do not execute securities trades on behalf of the Funds through an affiliated broker-dealer. The Board concluded that the lack of any ancillary, or so-called “fallout” benefits enables SFIMC, Barclays and Capital Guardian to manage assets of the Funds in a manner that appears to be free of conflicts of interest.

Based on the Board’s deliberations and their evaluation of the information provided by SFIMC, Barclays and Capital Guardian, the Board, including all of the Independent Trustees present at the Board meeting, unanimously approved the continuation of the Advisory Agreement and the Sub-Advisory Agreements for all Funds (other than with respect to Capital Guardian and the Small Cap Equity Fund) through June 30, 2007. With respect to the Small Cap Equity Fund, the Board, including all of the Independent Trustees present at the Board meeting, unanimously approved continuing the Capital Guardian Sub-Advisory Agreement through December 31, 2006, to provide time to SFIMC to finalize its recommendations to the Board. The Board anticipates taking preliminary action with respect to the Small Cap Equity Fund at its September meeting, although there is no guarantee that any action will be taken by that time.


	Shares	Value
Common Stocks (96.23%)

Consumer Discretionary (4.82%)
AutoNation Inc. (a)	4,751	$	101,861
Carnival Corp.	2,500		104,350
Clear Channel Communications Inc.	13,800		427,110
Dollar Tree Stores Inc. (a)	3,600		95,400
General Motors Corp.	6,900		205,551
Jarden Corp. (a)	5,200		158,340
Leggett & Platt Inc.	10,500		262,290
McDonald’s Corp.	2,900		97,440

			1,452,342

Consumer Staples (12.02%)
Altria Group Inc.	13,100		961,933
Anheuser-Busch Companies Inc.	3,200		145,888
Avon Products Inc.	8,900		275,900
Campbell Soup Co.	8,300		308,013
General Mills Inc.	4,000		206,640
Kraft Foods Inc. Class A	26,700		825,030
Sara Lee Corp.	31,700		507,834
Unilever NV New York Shares	17,400		392,370

			3,623,608

Energy (8.04%)
Anadarko Petroleum Corp.	5,700		271,833
Chevron Corp.	6,900		428,214
Exxon Mobil Corp.	4,700		288,345
Royal Dutch Shell PLC ADR Class A	1,700		113,866
Royal Dutch Shell PLC ADR Class B	11,900		831,453
Transocean Inc. (a)	6,100		489,952

			2,423,663

Financials (29.26%)
American International Group Inc.	6,500		383,825
AmeriCredit Corp. (a)	11,500		321,080
Berkshire Hathaway Inc. Class A (a)	2		183,318
Capital One Financial Corp.	4,700		401,615
Chubb Corp.	5,800		289,420
Everest Re Group Ltd.	900		77,913
Fifth Third Bancorp	9,600		354,720
General Growth Properties Inc.	12,900		581,274
Goldman Sachs Group Inc.	900		135,387
Hartford Financial Services Group Inc.	3,700		313,020
Host Hotels & Resorts Inc.	3,700		80,919
Hudson City Bancorp Inc.	50,100		667,833
IndyMac Bancorp Inc.	6,900		316,365
JPMorgan Chase & Co.	28,700		1,205,400
Marsh & McLennan Companies Inc.	25,200		677,628
RenaissanceRe Holdings Ltd.	3,800		184,148
St. Paul Travelers Co. Inc.	2,100		93,618
Wachovia Corp.	7,200		389,376
Washington Mutual Inc.	24,600		1,121,268
Wells Fargo & Co.	11,200		751,296


	Shares	Value
Common Stocks (Cont.)

Financials (Cont.)
XL Capital Ltd. Class A	4,700	$	288,110

			8,817,533

Health Care (11.03%)
AstraZeneca PLC ADR	8,000		478,560
Eli Lilly & Co.	1,900		105,013
Medco Health Solutions Inc. (a)	8,900		509,792
Merck & Co. Inc.	20,300		739,529
Pfizer Inc.	21,000		492,870
Triad Hospitals Inc. (a)	9,600		379,968
WellPoint Inc. (a)	8,500		618,545

			3,324,277

Industrials (6.66%)
American Standard Cos. Inc.	3,000		129,810
Emerson Electric Co.	2,600		217,906
General Electric Co.	27,500		906,400
Hubbell Inc. Class B	2,500		119,125
Raytheon Co.	3,900		173,823
Siemens AG ADR	2,100		182,322
Tyco International Ltd.	7,000		192,500
Union Pacific Corp.	900		83,664

			2,005,550

Materials (5.39%)
Air Products & Chemicals Inc.	3,100		198,152
Alcoa Inc.	10,900		352,724
E.I. du Pont de Nemours and Co.	2,800		116,480
International Paper Co.	11,600		374,680
Lyondell Chemical Co.	7,900		179,014
Methanex Corp.	5,200		110,136
The Dow Chemical Co.	7,500		292,725

			1,623,911

Technology (9.84%)
Affiliated Computer Services Inc. Class A (a)	4,200		216,762
Fairchild Semiconductor International Inc. (a)	22,800		414,276
Flextronics International Ltd. (a)	43,000		456,660
Hewlett-Packard Co.	10,800		342,144
Intel Corp.	48,400		917,180
International Rectifier Corp. (a)	2,100		82,068
Jabil Circuit Inc.	5,700		145,920
Sun Microsystems Inc. (a)	93,900		389,685

			2,964,695

Telecommunication Services (4.95%)
AT&T Inc.	19,800		552,222
Embarq Corp. (a)	235		9,633
Sprint Nextel Corp.	24,700		493,753


	Shares	Value
Common Stocks (Cont.)

Telecommunication Services (Cont.)
Verizon Communications Inc.	13,000	$	435,370

			1,490,978

Utilities (4.22%)
CMS Energy Corp. (a)	19,900		257,506
Duke Energy Corp.	6,100		179,157
Equitable Resources Inc.	3,900		130,650
Exelon Corp.	5,000		284,150
MDU Resources Group Inc.	2,600		95,186
NiSource Inc.	9,200		200,928
Pinnacle West Capital Corp.	3,100		123,721

			1,271,298

Total Common Stocks
(cost $28,047,318)			28,997,855

Short-term Investments (3.32%)
JPMorgan 100% US Treasury Securities Money Market Fund	512,172		512,172
JPMorgan Treasury Plus Money Market Fund	487,676		487,676

Total Short-term Investments
(cost $999,848)			999,848

TOTAL INVESTMENTS (99.55%)
(cost $29,047,166)			29,997,703
OTHER ASSETS, NET OF LIABILITIES (0.45%)			134,740

NET ASSETS (100.00%)		$	30,132,443

(a)	Non-income producing security.

ADR - American Depository Receipts


	Shares	Value
Common Stocks (95.95%)

Consumer Discretionary (19.19%)
Advo Inc.	8,500	$	209,185
American Axle & Manufacturing Holdings Inc.	16,800		287,448
Arbitron Inc.	8,400		321,972
Blue Nile Inc. (a)	1,300		41,808
California Pizza Kitchen Inc. (a)	4,000		109,920
Citadel Broadcasting Corp.	4,200		37,380
Citi Trends Inc. (a)	2,600		110,994
Fossil Inc. (a)	3,200		57,632
Four Seasons Hotels Inc.	6,300		387,072
Franklin Covey Co. (a)	9,700		71,780
Furniture Brands International Inc.	20,300		423,052
Harte-Hanks Inc.	3,100		79,484
J Crew Group Inc. (a)	5,200		142,740
Jarden Corp. (a)	11,100		337,995
Lithia Motors Inc. Class A	2,900		87,928
MDU Communications Inc. (a)	274,600		252,632
Morton’s Restaurant Group Inc. (a)	4,000		61,280
Nautilus Inc.	11,100		174,381
Orient Express Hotels Ltd. Class A	11,500		446,660
Princeton Review Inc. (a)	1,500		7,980
Progressive Gaming International Corp. (a)	10,900		85,020
Radio One Inc. Class D (a)	11,800		87,320
Restoration Hardware Inc. (a)	25,800		185,244
Ruth’s Chris Steak House (a)	4,900		100,058
Scientific Games Corp. Class A (a)	10,500		374,010
Six Flags Inc. (a)	6,200		34,844
Smith & Wesson Holding Corp. (a)	5,300		43,566
Stage Stores Inc.	6,900		227,700
Steiner Leisure Ltd. (a)	1,400		55,342
Tarragon Corp.	2,600		36,010
Texas Roadhouse Inc. Class A (a)	9,200		124,384

			5,002,821

Consumer Staples (1.70%)
Fresh Del Monte Produce Inc.	2,300		39,721
Interstate Bakeries Corp. (a)	11,400		79,800
Prestige Brands Holdings Inc. (a)	10,700		106,679
Tootsie Roll Industries Inc.	4,635		135,017
WD-40 Co.	2,400		80,568

			441,785

Energy (7.20%)
Alpha Natural Resources Inc. (a)	18,400		361,008
Core Laboratories NV (a)	2,000		122,080
Delta Petroleum Corp. (a)	51,300		878,769
Energy Partners Ltd. (a)	3,300		62,535
Helmerich & Payne Inc.	1,100		66,286
Hydril (a)	1,500		117,780
Newpark Resources Inc. (a)	27,800		170,970


	Shares	Value
Common Stocks (Cont.)

Energy (Cont.)
St. Mary Land & Exploration Co.	2,400	$	96,600

			1,876,028

Financials (16.58%)
American Financial Realty Trust	4,600		44,528
Annaly Mortgage Management Inc.	12,300		157,563
Anthracite Capital Inc.	15,000		182,400
Bancshares of Florida Inc. (a)	6,200		136,400
Banner Corp.	12,100		466,334
Cardinal Financial Corp.	12,100		140,602
Columbia Banking Systems Inc.	12,108		452,597
Equity Inns Inc.	4,700		77,832
Federal Agricultural Mortgage Corp. Class C	6,900		191,130
Franklin Bank Corp. (a)	6,100		123,159
Gramercy Capital Corp.	7,700		199,430
Harbor Florida Bancshares Inc.	3,700		137,418
Heritage Financial Corp.	4,500		118,530
International Securities Exchange Inc.	7,200		274,104
LaSalle Hotel Properties	1,400		64,820
Medallion Financial Corp.	5,600		72,576
MFA Mortgage Investments Inc.	7,100		48,848
Montpelier Re Holdings Ltd.	4,300		74,347
optionsXpress Holdings Inc.	1,500		34,965
Pan Pacific Retail Properties Inc.	1,200		83,244
ProAssurance Corp. (a)	1,800		86,724
Provident Bankshares Corp.	2,700		98,253
Seacoast Banking Corp. of Florida	12,900		343,527
Southcoast Financial Corp. (a)	6,380		136,213
Tanger Factory Outlet Centers Inc.	4,800		155,376
Trammell Crow Co. (a)	12,000		422,040

			4,322,960

Health Care (7.94%)
Atherogenics Inc. (a)	8,700		113,535
Dexcom Inc. (a)	2,500		33,950
Exelixis Inc. (a)	12,500		125,625
Human Genome Sciences Inc. (a)	34,500		369,150
Incyte Corp. (a)	35,400		162,840
Matria Healthcare Inc. (a)	3,300		70,686
National Medical Health Card Systems Inc. (a)	1,700		23,460
Option Care Inc.	28,900		346,222
Pharmacyclics Inc. (a)	17,800		68,708
Pharmion Corp. (a)	10,000		170,300
Renovis Inc. (a)	3,200		48,992
Rigel Pharmaceuticals Inc. (a)	7,400		72,002
VistaCare Inc. Class A (a)	11,200		135,520
Wright Medical Group Inc. (a)	11,000		230,230
ZymoGenetics Inc. (a)	5,200		98,644

			2,069,864


	Shares	Value
Common Stocks (Cont.)

Industrials (13.41%)
Actuant Corp. Class A	9,100	$	454,545
Albany International Corp. Class A	2,500		105,975
Ducommun Inc. (a)	7,700		142,604
ESCO Technologies Inc. (a)	4,100		219,145
Exponent Inc. (a)	11,400		192,660
G&K Services Inc. Class A	4,600		157,780
Griffon Corp. (a)	3,800		99,180
Jacuzzi Brands Inc. (a)	11,400		100,320
Jetblue Airways Corp. (a)	20,350		247,049
K&F Industries Holdings Inc. (a)	9,900		175,527
Ladish Co. Inc. (a)	10,000		374,700
Pinnacle Airlines Corp. (a)	15,900		111,936
RailAmerica Inc. (a)	43,900		459,194
Resources Connection Inc. (a)	11,700		292,734
Tennant Co.	4,800		241,344
Tetra Tech Inc. (a)	2,700		47,898
United Stationers Inc. (a)	1,500		73,980

			3,496,571

Materials (7.48%)
Apex Silver Mines Ltd. (a)	13,400		201,670
AptarGroup Inc.	4,800		238,128
Georgia Gulf Corp.	15,700		392,814
Methanex Corp.	23,000		487,140
Packaging Corp. of America	10,100		222,402
Texas Industries Inc.	7,700		408,870

			1,951,024

Technology (20.70%)
Advanced Energy Industries Inc. (a)	26,000		344,240
Atheros Communications (a)	6,700		127,032
Benchmark Electronics Inc. (a)	10,500		253,260
Credence Systems Corp. (a)	16,400		57,400
CyberSource Corp. (a)	8,800		102,960
Cymer Inc. (a)	4,900		227,654
Dot Hill Systems Corp. (a)	9,900		33,858
Electro Scientific Industries Inc. (a)	11,700		210,483
EMS Technologies Inc. (a)	19,400		348,618
Fairchild Semiconductor International Inc. (a)	11,700		212,589
FEI Co. (a)	2,200		49,896
Gateway Inc. (a)	104,000		197,600
Intergraph Corp. (a)	1,200		37,788
Kanbay International Inc. (a)	10,600		154,124
Kulicke & Soffa Industries Inc. (a)	28,200		208,962
LoJack Corp. (a)	2,000		37,720
LTX Corp. (a)	22,400		157,024
Measurement Specialties Inc. (a)	8,000		178,160
MIPS Technologies Inc. (a)	10,700		64,949
MKS Instruments Inc. (a)	12,600		253,512
Moldflow Corp. (a)	4,000		46,840
National Instruments Corp.	7,100		194,540


	Shares	Value
Common Stocks (Cont.)

Technology (Cont.)
Novatel Wireless Inc. (a)	12,200	$	126,636
ON Semiconductor Corp. (a)	16,600		97,608
Pixelworks Inc. (a)	6,000		16,380
Rudolph Technologies Inc. (a)	4,900		71,050
Sapient Corp. (a)	80,102		424,541
SCO Group Inc. (a)	10,300		42,230
Semtech Corp. (a)	7,000		101,150
Silicon Laboratories Inc. (a)	500		17,575
Spansion Inc. Class A (a)	3,900		62,166
SupportSoft Inc. (a)	10,100		39,794
SYNNEX Corp. (a)	5,000		94,800
Traffic.com Inc. (a)	15,800		88,322
Veeco Instruments Inc. (a)	16,500		393,360
WidePoint Corp. (a)	112,700		322,322

			5,397,143

Telecommunication Services (0.41%)
General Communication Inc. Class A (a)	8,700		107,184

Utilities (1.34%)
Duquesne Light Holdings Inc.	6,000		98,640
Pure Cycle Corp. (a)	5,400		57,834
SEMCO Energy Inc. (a)	34,500		191,820

			348,294

Total Common Stocks
(cost $26,124,042)			25,013,674

Short-term Investments (4.03%)
JPMorgan 100% US Treasury Securities Money Market Fund	543,575		543,575
JPMorgan Treasury Plus Money Market Fund	506,298		506,298

Total Short-term Investments
(cost $1,049,873)			1,049,873

TOTAL INVESTMENTS (99.98%)
(cost $27,173,915)			26,063,547
OTHER ASSETS, NET OF LIABILITIES (0.02%)			6,356

NET ASSETS (100.00%)		$	26,069,903

(a)	Non-income producing security.


	Shares	Value
Common Stocks (96.87%)

Australia (2.29%)
Amcor Ltd.	11,838	$	58,763
Foster’s Group Ltd.	14,400		58,532
Insurance Australia Group Ltd.	19,976		79,416
Macquarie Bank Ltd.	2,018		103,471
Promina Group Ltd.	13,286		55,485
Qantas Airways Ltd.	20,902		45,976
QBE Insurance Group Ltd.	3,974		60,538
Rinker Group Ltd.	15,113		184,067
Woolworths Ltd.	7,511		112,466

			758,714

Austria (0.40%)
Erste Bank Der Oester Spark	1,000		56,278
Telekom Austria AG	1,309		29,149
Wienerberger AG	1,000		47,517

			132,944

Belgium (0.59%)
Fortis	1,700		57,991
SES Global FDR Class A	4,000		56,790
UCB SA	1,500		81,155

			195,936

Canada (6.12%)
Abitibi Consolidated Inc.	10,000		26,964
Alcan Inc.	8,200		384,106
Barrick Gold Corp.	7,700		227,920
CAMECO Corp.	7,700		306,745
Canadian Natural Resources	5,200		287,507
Inco Ltd.	2,200		144,980
Magna International Inc. Class A	600		42,806
Manulife Financial Corp.	1,600		50,696
Methanex Corp.	3,000		63,236
Potash Corp. of Saskatchewan Inc.	2,400		205,536
Rogers Communications Inc. Class B	800		32,185
Suncor Energy Inc.	1,600		129,485
Telus Corp. Non Voting	1,700		68,606
The Toronto Dominion Bank	1,100		55,852

			2,026,624

Denmark (0.33%)
Novo Nordisk A/S	1,700		108,293

Finland (1.70%)
Neste Oil OYJ	2,600		91,585
Nokia Corp. ADR	4,100		83,066
Nokia OYJ	12,400		253,129
UPM-Kymmene OYJ	6,300		135,778

			563,558

France (11.50%)
Accor SA	2,000		121,740


	Shares	Value
Common Stocks (Cont.)

France (Cont.)
Air Liquide	550	$	107,140
AXA Co.	2,100		68,923
BNP Paribas	4,620		442,305
Bouygues	7,571		389,284
Carrefour SA	1,200		70,358
Dassault Systemes SA	1,000		53,592
Essilor International	900		90,595
Groupe Danone	1,200		152,488
L’Oreal	2,300		217,253
Lafarge SA	1,700		213,416
PagesJuanes SA	1,779		55,862
Renault SA	1,600		171,904
Safran SA	1,300		28,300
Sanofi-Aventis	7,500		731,937
Schneider Electric SA	3,100		323,152
Societe Generale Class A	900		132,382
Thales SA	1,400		54,687
Total SA	2,400		157,937
Veolia Environnement	2,200		113,710
Vivendi SA	3,200		112,147

			3,809,112

Germany (5.73%)
Allianz AG	1,200		189,586
Altana AG	1,200		66,858
Bayer AG	2,500		114,923
Bayerische Motoren Werke AG	1,100		54,956
Commerzbank AG	2,200		80,028
Continental AG	600		61,333
DaimlerChrysler AG	2,300		113,642
Depfa Bank PLC	4,500		74,594
Deutsche Bank AG	1,200		135,068
Deutsche Post AG	3,300		88,469
E.On AG	900		103,626
Infineon Technologies AG (a)	5,900		65,729
SAP AG	1,100		232,148
Siemens AG	3,200		278,444
Volkswagen AG	3,400		238,443

			1,897,847

Greece (0.13%)
Greek Org of Football Prognostics SA	1,200		43,437

Hong Kong (1.86%)
Bank of East Asia Ltd.	19,400		79,810
Hang Lung Group Ltd.	25,000		54,080
Hang Lung Properties Ltd.	31,000		55,483
Hong Kong & China Gas Co. Ltd.	24,000		52,689
Li & Fung Ltd.	48,800		98,652
PCCW Ltd.	61,000		43,592
Sun Hung Kai Properties Ltd.	6,000		61,187
Sun Hung Kai Properties Ltd. (b)	2,000		20,396


	Shares	Value
Common Stocks (Cont.)

Hong Kong (Cont.)
Swire Pacific Ltd. Class A	14,500	$	149,644

			615,533

Ireland (0.57%)
CRH PLC	5,800		188,578

Italy (0.35%)
Banca Intesa SpA	8,800		51,551
ENI SpA	2,200		64,804

			116,355

Japan (29.09%)
Advantest Corp.	1,400		142,642
Aeon Co. Ltd.	7,800		171,077
Astellas Pharma Inc.	1,300		47,711
Bridgestone Corp.	2,600		50,096
Canon Inc.	1,800		88,238
Daiichi Sanyko Co. Ltd.	3,000		82,576
Fanuc Ltd.	2,900		260,503
Hankyu Holdings Inc.	9,000		44,041
Hirose Electric Co. Ltd.	700		85,023
Hoya Corp.	2,400		85,355
Japan Tobacco Inc.	24		87,452
Kansai Electric Power	6,200		138,693
Kao Corp.	5,000		130,855
Keyence Corp.	220		56,173
Millea Holdings Inc.	11		204,736
Mitsubishi Corp.	9,900		197,671
Mitsubishi Estate Co. Ltd.	13,000		276,040
Mitsubishi Heavy Industries Ltd.	12,000		51,800
Mitsubishi UFJ Financial Group Inc.	18		251,660
Mitsui & Co. Ltd.	5,000		70,605
Mizuho Financial Group Inc.	58		491,105
Murata Manufacturing Co. Ltd.	1,000		64,925
NGK Spark Plug Co. Ltd.	4,000		80,391
Nidec Corp.	1,000		71,653
Nikon Corp.	5,000		87,295
Nintendo Co. Ltd.	1,800		301,992
Nippon Electric Glass Co. Ltd.	8,000		160,433
Nippon Telegraph & Telephone Corp.	15		73,532
Nissan Motor Co. Ltd.	24,000		262,146
Nitto Denko Corp.	4,600		327,595
Odakyu Electric Railway Co.	10,000		64,488
Orix Corp.	1,710		417,638
Ricoh Co. Ltd.	5,000		98,086
Rohm Co. Ltd.	1,200		107,270
Shimamura Co. Ltd.	900		98,619
Shin-Etsu Chemical Co. Ltd.	1,900		103,268
SMC Corp.	1,900		268,796
Softbank Corp.	22,700		508,786
Sompo Japan Insurance Inc.	9,000		125,830
Sony Corp.	1,700		75,018


	Shares	Value
Common Stocks (Cont.)

Japan (Cont.)
Sumitomo Corp.	18,000	$	237,347
Sumitomo Metal Industries Ltd.	24,000		98,986
Sumitomo Mitsui Financial Group Inc.	83		877,578
Sumitomo Realty & Development Co. Ltd.	3,000		73,925
Suzuki Motor Corp.	14,000		302,779
T&D Holdings Inc.	1,050		84,870
Takeda Pharmaceutical Co. Ltd.	2,500		155,540
TDK Corp.	700		53,216
Tokyo Electric Power Co.	2,400		66,271
Tokyo Electron Ltd.	4,900		342,538
Tokyo Gas Co. Ltd.	14,000		65,938
Tokyu Corp.	17,000		99,231
Toshiba Corp.	21,000		137,076
Trend Micro Inc.	4,000		134,918
Ushio Inc.	2,700		56,977
Yahoo! Japan Corp.	254		134,502
Yamada Denki Co. Ltd.	1,900		193,752
Yamato Holdings Co. Ltd.	12,000		212,863

			9,640,120

Netherlands (5.26%)
ABN AMRO Holdings NV	9,746		266,640
Aegon NV	14,019		239,738
ASML Holding NV (a)	2,800		56,728
Heineken NV	7,400		313,764
ING Groep NV	11,400		448,079
Koninklijke KPN NV	22,700		255,213
Koninklijke Numico NV (a)	1,506		67,592
TNT NV	2,700		96,627

			1,744,381

Norway (0.20%)
DNB NOR ASA	5,400		67,013

Singapore (0.79%)
DBS Group Holdings Ltd.	5,000		57,175
Singapore Telecommunications	128,000		205,402

			262,577

Spain (3.89%)
Altadis SA	2,100		99,275
Banco Bilbao Vizcaya Argentaria SA	17,900		368,152
Banco Santander Central Hispano SA	20,000		292,135
Iberdrola SA	3,000		103,334
Inditex	2,200		92,803
Repsol YPF SA	8,200		234,831
Telefonica SA	5,900		98,254

			1,288,784

Sweden (0.98%)
Atlas Copco AB Class A	5,200		144,510


	Shares	Value
Common Stocks (Cont.)

Sweden (Cont.)
Ericsson LM Class B	31,000	$	102,518
Scania AB Class B	1,700		77,243

			324,271

Switzerland (8.10%)
Adecco SA	1,001		59,198
Compagnie Financiere Richemont AG Class A	7,968		364,981
Credit Suisse Group	3,371		188,603
Givaudan	82		64,558
Holcim Ltd.	4,549		348,649
Nestle SA	1,031		323,835
Novartis AG	10,604		574,197
Roche Holding AG	1,307		216,060
Swiss Reinsurance	4,540		317,323
Swisscom AG	336		110,621
Synthes Inc. (a)	471		56,826
UBS AG	529		57,982

			2,682,833

United Kingdom (16.99%)
ARM Holdings PLC	23,900		50,052
AstraZeneca PLC	9,700		585,632
BAE Systems PLC	29,300		200,336
BHP Billiton PLC	3,600		69,833
Brambles Industries PLC	13,200		104,961
British Land Co. PLC	3,300		77,073
Cadbury Schweppes PLC	5,000		48,218
Carnival PLC	2,500		101,845
Diageo PLC	4,100		68,956
HBOS PLC	22,100		384,153
HSBC Holdings PLC	7,600		133,723
Kingfisher PLC	15,000		66,155
Lloyds TSB Group PLC	10,300		101,234
Pearson PLC	5,500		74,906
Reed Elsevier PLC	32,700		330,160
Rio Tinto PLC	2,200		116,311
Royal Bank of Scotland Group	21,200		697,030
Royal Dutch Shell PLC Class A	20,784		699,153
Scottish & Southern Energy PLC	5,300		112,807
Smith & Nephew PLC	8,000		61,615
Standard Chartered PLC	8,100		197,716
Tesco PLC	8,900		54,969
Unilever PLC	4,830		108,609
Vodafone Group PLC	396,300		844,596
Wolseley PLC	2,800		61,771
Xstrata PLC	4,800		181,961


	Principal amount		Value
Repurchase Agreement (3.16%)
Investors Bank & Trust Repurchase Agreement, (c) 3.750%, to be repurchased at $1,047,837 on 07/03/06	$	1,047,509	$	1,047,509

Total Repurchase Agreement
(cost $1,047,509)				1,047,509

TOTAL INVESTMENTS (100.03%)
(cost $28,478,800)				33,144,672
LIABILITIES, NET OF CASH AND OTHER ASSETS (-0.03%)				(8,647	)

NET ASSETS (100.0%)			$	33,136,025

(a)	Non-income producing security.

(b)	These shares may only be resold to qualified institutional buyers in transactions exempt from registration.

(c)	Repurchase agreement is fully collateralized by U.S. Government Agency securities with a coupon rate of 8.375%, a maturity date of July 25, 2014, and a market value of $1,099,885 as of June 30, 2006.

ADR - American Depository Receipt

FDR - Fiduciary Depository Receipt

Approximately 31.97% of the investment securities are denominated in the Euro, followed by 29.08% in the Japanese Yen, 13.11% in the British Pound, 8.09% in the Swiss Franc, 4.99% in the Canadian Dollar, 4.54% in the U.S. Dollar and 2.75% in the Swedish Krone. The remaining investment securities representing 5.47% of total investments, are denominated in five currencies, each of which represents less than 2.30% of total investments.

INTERNATIONAL EQUITY FUND SECTOR CLASSIFICATIONS


Sector	Value			%
Financials	$	8,811,913		26.59
Information Technology		3,469,790		10.47
Consumer Discretionary		3,449,136		10.41
Materials		3,366,568		10.16
Industrials		3,175,512		9.58
Health Care		2,858,997		8.63
Telecommunication Services		2,150,434		6.49
Consumer Staples		2,085,698		6.30
Energy		1,972,047		5.95
Utilities		757,068		2.29

Total Stocks		32,097,163		96.87
Repurchase Agreement		1,047,509		3.16
Cash and Other Assets, net of Liabilities		(8,647	)	(0.03	)

Net Assets	$	33,136,025		100.00	%


	Shares	Value
Common Stocks (99.00%)

Aerospace/Defense (1.45%)
Boeing Co.	36,933	$	3,025,182
General Dynamics Corp.	18,641		1,220,240
Lockheed Martin Corp.	16,288		1,168,501
Northrop Grumman Corp.	15,963		1,022,590
Raytheon Co.	20,639		919,880
Rockwell Collins Inc.	7,920		442,490

			7,798,883

Agriculture, Foods, & Beverage (3.68%)
Anheuser-Busch Companies Inc.	35,743		1,629,523
Archer-Daniels-Midland Co.	30,239		1,248,266
Campbell Soup Co.	8,609		319,480
Coca-Cola Enterprises Inc.	13,940		283,958
ConAgra Foods Inc.	23,927		529,026
Constellation Brands Inc. (a)	9,094		227,350
Dean Foods Co. (a)	6,210		230,950
General Mills Inc.	16,405		847,482
HJ Heinz Co.	15,406		635,035
Kellogg Co.	11,375		550,891
McCormick & Co. Inc.	6,119		205,293
Molson Coors Brewing Co. Class B	2,634		178,796
Pepsi Bottling Group Inc.	6,206		199,523
PepsiCo Inc.	76,353		4,584,234
Reynolds American Inc.	3,933		453,475
Sara Lee Corp.	34,959		560,043
Sysco Corp.	28,489		870,624
The Coca-Cola Co.	94,565		4,068,186
The Hershey Co.	8,239		453,722
Tyson Foods, Inc.	11,639		172,956
Whole Foods Market Inc.	6,485		419,190
WM Wrigley Jr. Co.	10,200		462,672
Yum! Brands Inc.	12,461		626,415

			19,757,090

Airlines (0.10%)
Southwest Airlines Co.	32,563		533,056

Automotive (0.68%)
Cooper Tire & Rubber Co.	2,786		31,036
Ford Motor Co.	86,630		600,346
General Motors Corp.	26,055		776,178
Genuine Parts Co.	7,971		332,072
Goodyear Tire & Rubber Co. (a)	8,187		90,876
Harley-Davidson Inc.	12,312		675,806
ITT Industries Inc.	8,511		421,294
Navistar International Corp. (a)	2,849		70,114
Paccar Inc.	7,634		628,889

			3,626,611

Banks (6.75%)
AmSouth Bancorporation	15,887		420,211
Bank of America Corp.	210,935		10,145,974


	Shares	Value
Common Stocks (Cont.)

Banks (Cont.)
Bank of New York Co. Inc.	35,679	$	1,148,864
BB&T Corp.	25,397		1,056,261
Comerica Inc.	7,483		389,041
Fifth Third Bancorp	25,724		950,502
Golden West Financial Corp.	11,793		875,041
Huntington Bancshares Inc.	11,426		269,425
JPMorgan Chase & Co.	160,450		6,738,900
M&T Bank Corp.	3,648		430,172
Northern Trust Corp.	8,517		470,990
PNC Financial Services Group Inc.	13,667		959,013
State Street Corp.	15,320		889,939
SunTrust Banks Inc.	16,866		1,286,201
Synovus Financial Corp.	14,890		398,754
US Bancorp	82,392		2,544,265
Washington Mutual Inc.	44,502		2,028,401
Wells Fargo & Co.	77,606		5,205,811

			36,207,765

Building Materials & Construction (0.64%)
American Standard Cos. Inc.	8,191		354,425
Centex Corp.	5,650		284,195
DR Horton Inc.	12,527		298,393
Fluor Corp.	4,062		377,482
KB Home	3,529		161,805
Leggett & Platt Inc.	8,373		209,157
Lennar Corp.	6,433		285,432
Louisiana-Pacific Corp.	4,880		106,872
Masco Corp.	18,534		549,348
Pulte Homes Inc.	9,834		283,121
Stanley Works	3,324		156,959
Vulcan Materials Co.	4,615		359,970

			3,427,159

Chemicals (1.55%)
Air Products & Chemicals Inc.	10,348		661,444
Ashland Inc.	3,272		218,243
E.I. du Pont de Nemours and Co.	42,548		1,769,997
Eastman Chemical Co.	3,768		203,472
Hercules Inc. (a)	5,239		79,947
International Flavors & Fragrances Inc.	3,618		127,498
Monsanto Co.	12,494		1,051,870
Pall Corp.	5,768		161,504
PPG Industries Inc.	7,681		506,946
Praxair Inc.	14,963		808,002
Rohm & Haas Co.	6,727		337,157
Sealed Air Corp.	3,737		194,623
Sigma-Aldrich Corp.	3,086		224,167
Temple-Inland Inc.	5,090		218,208
The Dow Chemical Co.	44,518		1,737,538

			8,300,616


	Shares	Value
Common Stocks (Cont.)

Commercial Service/Supply (1.83%)
Allied Waste Industries Inc. (a)	11,128	$	126,414
Apollo Group Inc. Class A (a)	6,470		334,305
Ball Corp.	4,788		177,347
Cendant Corp.	46,399		755,840
Cintas Corp.	6,329		251,641
Convergys Corp. (a)	6,466		126,087
Eastman Kodak Co.	13,238		314,800
Ecolab Inc.	8,378		339,979
Equifax Inc.	5,970		205,010
First Data Corp.	35,320		1,590,813
Interpublic Group of Companies Inc. (a)	20,096		167,801
Monster Worldwide Inc. (a)	5,939		253,358
Moody’s Corp.	11,295		615,126
Omnicom Group Inc.	7,938		707,196
Pactiv Corp. (a)	6,573		162,682
Paychex Inc.	15,389		599,863
Pitney Bowes Inc.	10,129		418,328
Robert Half International Inc.	7,907		332,094
RR Donnelley & Sons Co.	9,956		318,094
Ryder System Inc.	2,788		162,903
Snap-On Inc.	2,697		109,013
Waste Management Inc.	25,035		898,256
WW Grainger Inc.	3,512		264,208
Xerox Corp. (a)	42,039		584,762

			9,815,920

Computer Software & Services (4.29%)
Adobe Systems Inc. (a)	27,623		838,634
Affiliated Computer Services Inc. Class A (a)	5,513		284,526
Autodesk Inc. (a)	10,637		366,551
Automatic Data Processing Inc.	26,667		1,209,349
BMC Software Inc. (a)	9,820		234,698
CA Inc.	20,982		431,180
Computer Sciences Corp. (a)	8,679		420,411
Compuware Corp. (a)	17,623		118,074
Comverse Technology Inc. (a)	9,319		184,237
eBay Inc. (a)	53,401		1,564,115
Electronic Arts Inc. (a)	14,131		608,198
Electronic Data Systems Corp.	23,929		575,732
EMC Corp. (a)	109,362		1,199,701
Intuit Inc. (a)	7,990		482,516
Juniper Networks Inc. (a)	26,017		416,012
Microsoft Corp.	405,533		9,448,919
Oracle Corp. (a)	179,870		2,606,316
Unisys Corp. (a)	15,818		99,337
Yahoo! Inc. (a)	57,752		1,905,816
			22,994,322
Computers (2.81%)
Apple Computer Inc. (a)	39,283		2,243,845
Dell Inc. (a)	105,149		2,566,687


	Shares	Value
Common Stocks (Cont.)

Computers (Cont.)
Gateway Inc. (a)	11,936	$	22,678
Hewlett-Packard Co.	129,042		4,088,051
International Business Machines Corp.	71,691		5,507,303
Sun Microsystems Inc. (a)	161,460		670,059

			15,098,623

Consumer & Marketing (4.74%)
Alberto-Culver Co.	3,465		168,815
Altria Group Inc.	96,460		7,083,058
Avery Dennison Corp.	5,093		295,700
Avon Products Inc.	20,733		642,723
Black & Decker Corp.	3,556		300,340
Brown-Forman Corp. Class B	3,821		273,927
Brunswick Corp.	4,360		144,970
Clorox Co.	6,991		426,241
Colgate-Palmolive Co.	23,731		1,421,487
Danaher Corp.	10,911		701,796
Darden Restaurants Inc.	6,040		237,976
Fortune Brands Inc.	6,742		478,749
Harman International Industries Inc.	3,085		263,366
Hasbro Inc.	8,218		148,828
Kimberly-Clark Corp.	21,211		1,308,719
Mattel Inc.	17,862		294,902
Newell Rubbermaid Inc.	12,856		332,070
Starbucks Corp. (a)	35,442		1,338,290
The Estee Lauder Companies	5,471		211,564
The Procter & Gamble Co.	151,589		8,428,348
UST Inc.	7,542		340,823
Wendy’s International Inc.	5,379		313,542
Whirlpool Corp.	3,583		296,135
			25,452,369
Electronic/Electrical Mfg. (5.71%)
Advanced Micro Devices Inc. (a)	22,344		545,640
Agilent Technologies Inc. (a)	19,722		622,426
Applied Materials Inc.	72,556		1,181,212
Emerson Electric Co.	18,943		1,587,613
Freescale Semiconductor Inc. Class B (a)	18,909		555,925
General Electric Co.	480,372		15,833,061
Intel Corp.	269,024		5,098,005
KLA-Tencor Corp.	9,194		382,195
Linear Technology Corp.	14,086		471,740
LSI Logic Corp. (a)	18,079		161,807
Micron Technology Inc. (a)	31,282		471,107
Molex Inc.	6,542		219,615
National Semiconductor Corp.	15,515		370,033
PerkinElmer Inc.	6,043		126,299
Rockwell Automation Inc.	8,229		592,570
Texas Instruments Inc.	72,156		2,185,605


	Shares	Value
Common Stocks (Cont.)

Electronic/Electrical Mfg. (Cont.)
Waters Corp. (a)	4,808	$	213,475

			30,618,328

Financial Services (9.99%)
AMBAC Financial Group Inc.	4,851		393,416
American Express Co.	56,978		3,032,369
Ameriprise Financial Inc.	11,413		509,819
Apartment Investment and Management Co.	4,456		193,613
Archstone-Smith Trust	9,829		500,001
Bear Stearns Companies Inc.	5,568		779,965
Boston Properties Inc.	4,213		380,855
Capital One Financial Corp.	13,994		1,195,787
Charles Schwab Corp.	47,464		758,475
CIT Group Inc.	9,205		481,329
Citigroup Inc.	229,744		11,082,851
Commerce Bancorp Inc.	8,475		302,303
Compass Bancshares Inc.	5,956		331,154
Countrywide Financial Corp.	28,057		1,068,411
E*Trade Financial Corp. (a)	19,673		448,938
Equity Office Properties Trust	16,770		612,273
Equity Residential	13,471		602,558
Federal Home Loan Mortgage Corp.	31,914		1,819,417
Federal National Mortgage Association	44,705		2,150,311
Federated Investors Inc. Class B	3,863		121,685
First Horizon National Corp.	5,813		233,683
Franklin Resources Inc.	7,082		614,788
Goldman Sachs Group Inc.	19,996		3,007,998
H&R Block Inc.	15,107		360,453
Janus Capital Group Inc.	9,862		176,530
Keycorp	18,653		665,539
Kimco Realty Corp.	9,781		356,909
Legg Mason Inc.	6,096		606,674
Lehman Brothers Holdings Inc.	24,652		1,606,078
Marshall & Ilsley Corp.	10,397		475,559
MBIA Inc.	6,177		361,663
Mellon Financial Corp.	19,087		657,165
Merrill Lynch & Co. Inc.	42,680		2,968,821
MGIC Investment Corp.	4,025		261,625
Morgan Stanley	49,507		3,129,337
National City Corp.	25,181		911,300
North Fork Bancorporation Inc.	21,665		653,633
Principal Financial Group	12,869		716,160
ProLogis	11,307		589,321
Public Storage Inc.	3,799		288,344
Regions Financial Corp.	21,020		696,182
Simon Property Group Inc.	8,478		703,165
SLM Corp.	19,079		1,009,661
Sovereign Bancorp Inc.	17,477		354,958
T Rowe Price Group Inc.	12,308		465,365
Vornado Realty Trust	5,467		533,306
Wachovia Corp.	74,408		4,023,985


	Shares	Value
Common Stocks (Cont.)

Financial Services (Cont.)
Zions Bancorporation	4,896	$	381,594

			53,575,326

Forest Products & Paper (0.39%)
International Paper Co.	22,837		737,635
MeadWestvaco Corp.	8,350		233,215
OfficeMax Inc.	3,279		133,619
Plum Creek Timber Co. Inc.	8,498		301,679
Weyerhaeuser Co.	11,366		707,534

			2,113,682

Health Care (11.82%)
Abbott Laboratories	70,628		3,080,087
Aetna Inc.	26,229		1,047,324
Allergan Inc.	7,048		755,968
AmerisourceBergen Corp.	9,632		403,773
Amgen Inc. (a)	54,470		3,553,078
Applera Corp.- Applied Biosystems Group	8,585		277,725
Barr Pharmaceuticals Inc. (a)	4,859		231,726
Bausch & Lomb Inc.	2,483		121,766
Baxter International Inc.	30,237		1,111,512
Becton Dickinson & Co.	11,376		695,415
Biogen Idec Inc. (a)	15,828		733,311
Biomet Inc.	11,408		356,956
Boston Scientific Corp. (a)	56,179		946,054
Bristol-Myers Squibb Co.	90,819		2,348,579
Cardinal Health Inc.	19,220		1,236,423
Caremark Rx Inc.	20,548		1,024,729
Coventry Health Care Inc. (a)	7,370		404,908
CR Bard Inc.	4,793		351,135
Eli Lilly & Co.	52,200		2,885,094
Express Scripts Inc. (a)	6,810		488,549
Forest Laboratories Inc. (a)	14,998		580,273
Genzyme Corp. (a)	12,033		734,615
Gilead Sciences Inc. (a)	21,111		1,248,927
HCA Inc.	18,892		815,190
Health Management Associates Inc.	11,051		217,815
Hospira Inc. (a)	7,097		304,745
Humana Inc. (a)	7,638		410,161
IMS Health Inc.	9,150		245,677
Johnson & Johnson	136,877		8,201,670
King Pharmaceuticals Inc. (a)	11,171		189,907
Laboratory Corp. of America Holdings (a)	5,765		358,756
Manor Care Inc.	3,627		170,179
McKesson Corp.	14,100		666,648
Medco Health Solutions Inc. (a)	14,002		802,035
Medimmune Inc. (a)	11,316		306,664
Medtronic Inc.	55,752		2,615,884
Merck & Co. Inc.	100,812		3,672,581
Mylan Laboratories Inc.	9,461		189,220


	Shares	Value
Common Stocks (Cont.)

Health Care (Cont.)
Patterson Cos. Inc. (a)	6,396	$	223,412
Pfizer Inc.	338,661		7,948,374
Quest Diagnostics Inc.	7,486		448,561
Schering-Plough Corp.	68,394		1,301,538
St. Jude Medical Inc. (a)	16,519		535,546
Stryker Corp.	13,461		566,843
Tenet Healthcare Corp. (a)	21,722		151,619
UnitedHealth Group Inc.	62,115		2,781,510
Watson Pharmaceuticals Inc. (a)	4,660		108,485
WellPoint Inc. (a)	29,521		2,148,243
Wyeth	62,169		2,760,925
Zimmer Holdings Inc. (a)	11,489		651,656

			63,411,771

Insurance (4.49%)
ACE Ltd.	15,012		759,457
Aflac Inc.	23,051		1,068,414
American International Group Inc.	119,990		7,085,410
Aon Corp.	14,832		516,450
Chubb Corp.	19,158		955,984
Cigna Corp.	5,571		548,799
Cincinnati Financial Corp.	8,026		377,302
Genworth Financial Inc.	17,015		592,803
Hartford Financial Services Group Inc.	13,996		1,184,062
Lincoln National Corp.	13,256		748,169
Loews Corp.	18,753		664,794
Marsh & McLennan Companies Inc.	25,377		682,387
MetLife Inc.	35,037		1,794,245
Progressive Corp.	36,236		931,628
Prudential Financial Inc.	22,783		1,770,239
Safeco Corp.	5,413		305,022
St. Paul Travelers Co. Inc.	32,154		1,433,425
The Allstate Corp.	29,449		1,611,744
Torchmark Corp.	4,547		276,094
UnumProvident Corp.	13,771		249,668
XL Capital Ltd. Class A	8,321		510,077

			24,066,173

Leisure, Lodging & Gaming (0.57%)
Carnival Corp.	19,991		834,424
Harrah’s Entertainment Inc.	8,552		608,732
Hilton Hotels Corp.	15,171		429,036
Marriott International Inc. Class A	15,091		575,269
Starwood Hotels & Resorts Worldwide Inc.	10,027		605,029

			3,052,490

Machinery & Manufacturing (3.51%)
3M Co.	34,824		2,812,734
Bemis Co. Inc.	4,846		148,384
Caterpillar Inc.	30,953		2,305,379
Cooper Industries Ltd. Class A	4,292		398,813


	Shares	Value
Common Stocks (Cont.)

Machinery & Manufacturing (Cont.)
Cummins Inc.	2,143	$	261,982
Deere & Co.	10,897		909,791
Dover Corp.	9,369		463,110
Eaton Corp.	6,932		522,673
Goodrich Corp.	5,692		229,331
Honeywell International Inc.	38,230		1,540,669
Illinois Tool Works Inc.	19,122		908,295
Ingersoll-Rand Co. Ltd. Class A	15,187		649,700
Johnson Controls Inc.	9,005		740,391
Millipore Corp. (a)	2,484		156,467
Parker Hannifin Corp.	5,517		428,119
Textron Inc.	5,950		548,471
Thermo Electron Corp. (a)	7,479		271,039
Tyco International Ltd.	94,068		2,586,870
United Technologies Corp.	46,743		2,964,441

			18,846,659

Media & Broadcasting (3.22%)
CBS Corp. Class B	35,589		962,683
Clear Channel Communications Inc.	23,423		724,942
Comcast Corp. Class A (a)	97,769		3,200,957
Dow Jones & Co. Inc.	2,704		94,667
EW Scripps Co. Class A	3,926		169,368
Gannett Co. Inc.	10,950		612,433
Meredith Corp.	1,917		94,968
New York Times Co.	6,703		164,492
News Corp. Class A	109,561		2,101,380
The McGraw-Hill Companies Inc.	16,629		835,275
The Walt Disney Co.	101,331		3,039,930
Time Warner Inc.	198,128		3,427,614
Tribune Co.	10,117		328,094
Univision Communications Inc. (a)	10,276		344,246
Viacom Inc. Class B	33,328		1,194,475

			17,295,524

Mining & Metals (0.95%)
Alcoa Inc.	40,113		1,298,057
Allegheny Technologies Inc.	3,988		276,129
Freeport-McMoRan Copper & Gold Inc.	8,696		481,845
Newmont Mining Corp.	20,728		1,097,133
Nucor Corp.	14,423		782,448
Phelps Dodge Corp.	9,441		775,673
United States Steel Corp.	5,769		404,522

			5,115,807

Oil & Gas (9.88%)
Anadarko Petroleum Corp.	21,210		1,011,505
Apache Corp.	15,291		1,043,611
Baker Hughes Inc.	15,762		1,290,120
BJ Services Co.	14,937		556,553
Chesapeake Energy Corp.	17,869		540,537
Chevron Corp.	102,467		6,359,102


	Shares	Value
Common Stocks (Cont.)

Oil & Gas (Cont.)
ConocoPhillips Co.	76,248	$	4,996,531
Devon Energy Corp.	20,330		1,228,135
El Paso Corp.	31,988		479,820
EOG Resources Inc.	11,171		774,597
Exxon Mobil Corp.	279,602		17,153,583
Halliburton Co.	23,840		1,769,166
Hess Corp.	11,157		589,647
Kerr-McGee Corp.	10,385		720,200
Kinder Morgan Inc.	4,849		484,367
Marathon Oil Corp.	16,673		1,388,861
Murphy Oil Corp.	7,715		430,960
Nabors Industries Ltd. (a)	14,174		478,939
National Oilwell Varco Inc. (a)	8,051		509,789
Noble Corp.	6,319		470,260
Occidental Petroleum Corp.	19,823		2,032,849
Rowan Companies Inc.	5,044		179,516
Schlumberger Ltd.	54,499		3,548,430
Sunoco Inc.	6,123		424,263
Transocean Inc. (a)	14,997		1,204,559
Valero Energy Corp.	28,522		1,897,283
Weatherford International Ltd. (a)	16,067		797,245
Williams Companies Inc.	27,587		644,432

			53,004,860

Retailers (5.89%)
Amazon.com Inc. (a)	14,215		549,836
AutoNation Inc. (a)	6,750		144,720
Autozone Inc. (a)	2,416		213,091
Bed Bath & Beyond Inc. (a)	13,066		433,399
Best Buy Co. Inc.	18,499		1,014,485
Big Lots Inc. (a)	5,285		90,268
Circuit City Stores Inc.	6,987		190,186
Coach Inc. (a)	17,811		532,549
Costco Wholesale Corp.	21,788		1,244,748
CVS Corp.	37,791		1,160,184
Dillard’s Inc. Class A	2,815		89,658
Dollar General Corp.	14,604		204,164
Family Dollar Stores Inc.	7,126		174,088
Federated Department Stores Inc.	25,542		934,837
GAP Inc.	25,707		447,302
Home Depot Inc.	95,630		3,422,598
J.C. Penney Co. Inc.	10,841		731,876
Kohls Corp. (a)	15,636		924,400
Kroger Co.	33,419		730,539
Limited Brands	16,006		409,594
Lowe’s Companies Inc.	35,759		2,169,498
McDonald’s Corp.	57,410		1,928,976
Nordstrom Inc.	10,049		366,788
Office Depot Inc. (a)	13,423		510,074
RadioShack Corp.	6,225		87,150
Safeway Inc.	20,721		538,746
Sears Holdings Corp. (a)	4,513		698,793
Staples Inc.	33,562		816,228


	Shares	Value
Common Stocks (Cont.)

Retailers (Cont.)
Supervalu Inc.	9,378	$	287,905
Target Corp.	39,994		1,954,507
The Sherwin-Williams Co.	5,093		241,816
Tiffany & Co.	6,561		216,644
TJX Companies Inc.	21,223		485,158
Wal-Mart Stores Inc.	115,500		5,563,635
Walgreen Co.	46,714		2,094,656

			31,603,096

Technology (3.06%)
Altera Corp. (a)	16,512		289,786
American Power Conversion Corp.	7,885		153,679
Analog Devices Inc.	16,839		541,205
Avaya Inc. (a)	19,150		218,693
Broadcom Corp. (a)	21,144		635,377
Citrix Systems Inc. (a)	8,400		337,176
Fiserv Inc. (a)	8,236		373,585
Fisher Scientific International Inc. (a)	5,758		420,622
Google Inc. (a)	9,520		3,992,022
International Game Technology	15,673		594,634
Jabil Circuit Inc.	8,245		211,072
L-3 Communications Holdings Inc.	5,656		426,576
Lexmark International Group Inc. (a)	4,768		266,197
Maxim Integrated Products Inc.	14,743		473,398
NCR Corp. (a)	8,364		306,457
Network Appliance Inc. (a)	17,238		608,501
Novell Inc. (a)	16,540		109,660
Novellus Systems Inc. (a)	5,662		139,851
NVIDIA Corp. (a)	16,260		346,175
Parametric Technology Corp. (a)	5,146		65,406
PMC-Sierra Inc. (a)	9,703		91,208
QLogic Corp. (a)	7,453		128,490
QUALCOMM Inc.	77,424		3,102,380
Sabre Holdings Corp.	6,090		133,980
SanDisk Corp. (a)	8,989		458,259
Sanmina-SCI Corp. (a)	24,632		113,307
Solectron Corp. (a)	41,957		143,493
Symantec Corp. (a)	48,016		746,169
Symbol Technologies Inc.	11,692		126,157
Tektronix Inc.	3,910		115,032
Teradyne Inc. (a)	9,152		127,487
VeriSign Inc. (a)	11,253		260,732
Xilinx Inc.	15,848		358,957

			16,415,723

Telecom & Telecom Equipment (5.32%)
ADC Telecommunications Inc. (a)	5,411		91,230
Alltel Corp.	17,968		1,146,897
Andrew Corp. (a)	7,373		65,325
AT&T Inc.	179,597		5,008,960
BellSouth Corp.	83,549		3,024,474
CenturyTel Inc.	5,298		196,821


	Shares	Value
Common Stocks (Cont.)

Telecom & Telecom Equipment (Cont.)
Ciena Corp. (a)	26,906	$	129,418
Cisco Systems Inc. (a)	282,284		5,513,007
Citizens Communications Co.	15,079		196,781
Corning Inc. (a)	71,932		1,740,035
Embarq Corp. (a)	6,828		279,880
JDS Uniphase Corp. (a)	77,229		195,389
Lucent Technologies Inc. (a)	205,896		498,268
Motorola Inc.	114,362		2,304,394
Qwest Communications International Inc. (a)	72,246		584,470
Sprint Nextel Corp.	137,599		2,750,604
Tellabs Inc. (a)	20,769		276,435
Verizon Communications Inc.	134,704		4,511,237

			28,513,625

Textiles & Clothing (0.25%)
Jones Apparel Group Inc.	5,239		166,548
Liz Claiborne Inc.	4,825		178,815
Nike Inc.	8,705		705,105
VF Corp.	4,047		274,872

			1,325,340

Transportation (1.87%)
Burlington Northern Santa Fe Corp.	16,916		1,340,593
CSX Corp.	10,229		720,531
FedEx Corp.	14,091		1,646,674
Norfolk Southern Corp.	19,148		1,019,057
Union Pacific Corp.	12,420		1,154,563
United Parcel Service Inc. Class B	50,174		4,130,825

			10,012,243

Utilities & Energy (3.56%)
Allegheny Energy Inc. (a)	7,526		278,989
Ameren Corp.	9,435		476,467
American Electric Power Co. Inc.	18,137		621,192
CenterPoint Energy Inc.	14,316		178,950
CMS Energy Corp. (a)	10,200		131,988
CONSOL Energy Inc.	8,458		395,158
Consolidated Edison Inc.	11,309		502,572
Constellation Energy Group Inc.	8,223		448,318
Dominion Resources Inc.	16,071		1,201,950
DTE Energy Co.	8,197		333,946
Duke Energy Corp.	57,079		1,676,410
Dynegy Inc. (a)	16,961		92,777
Edison International	15,009		585,351
Entergy Corp.	9,574		677,360
Exelon Corp.	30,875		1,754,626
FirstEnergy Corp.	15,192		823,558
FPL Group Inc.	18,686		773,227
KeySpan Corp.	8,048		325,139
Nicor Inc.	2,047		84,950
NiSource Inc.	12,575		274,638


	Shares or principal amount		Value
Common Stocks (Cont.)

Utilities & Energy (Cont.)
Peoples Energy Corp.		1,779	$	63,884
PG&E Corp.		16,029		629,619
Pinnacle West Capital Corp.		4,578		182,708
PPL Corp.		17,519		565,864
Progress Energy Inc.		11,624		498,321
Public Service Enterprise Group Inc.		11,624		768,579
Sempra Energy		11,906		541,485
TECO Energy Inc.		9,621		143,738
The AES Corp. (a)		30,505		562,817
The Southern Co.		34,313		1,099,732
TXU Corp.		21,387		1,278,729
Xcel Energy Inc.		18,616		357,055
XTO Energy Corp.		16,860		746,392

				19,076,489

Total Common Stocks
(cost $514,936,349)				531,059,550

Short-term Investments (0.96%)
U.S. Treasury Bills, 4.658%, 09/21/2006 (b)	$	5,222,000		5,166,490

Total Short-term Investments
(cost $5,165,038)				5,166,490

TOTAL INVESTMENTS (99.96%)
(cost $520,101,387)				536,226,040
OTHER ASSETS, NET OF LIABILITIES (0.04%)				197,623

NET ASSETS (100.00%)			$	536,423,663

(a)	Non-income producing security.

(b)	At June 30, 2006, this security has been pledged to cover, in whole or in part, initial margin requirements for open futures contracts.


	Shares	Value
Common Stocks (91.92%)

Automotive & Transportation (3.61%)
AAR Corp. (a)	7,637	$	169,771
ABX Air Inc. (a)	9,431		56,963
Accuride Corp. (a)	2,741		34,180
Aftermarket Technology Corp. (a)	3,731		92,715
Airtran Holdings Inc. (a)	19,252		286,085
Alaska Air Group Inc. (a)	7,257		286,071
Amerco Inc. (a)	1,962		197,495
American Axle & Manufacturing Holdings Inc.	8,244		141,055
American Commercial Lines Inc. (a)	5,634		339,449
American Railcar Industries Inc.	1,422		47,082
Arkansas Best Corp.	5,074		254,766
ArvinMeritor Inc.	14,770		253,896
Aviall Inc. (a)	6,648		315,913
Bandag Inc.	2,333		85,364
Bristow Group Inc. (a)	4,691		168,876
Celadon Group Inc. (a)	3,977		87,653
Commercial Vehicle Group Inc. (a)	3,301		68,265
Cooper Tire & Rubber Co.	13,280		147,939
Dynamex Inc. (a)	1,325		28,898
EGL Inc. (a)	7,674		385,235
ExpressJet Holdings Inc. (a)	8,628		59,620
Fleetwood Enterprises Inc. (a)	12,543		94,574
Florida East Coast Industries Inc.	6,652		348,099
Forward Air Corp.	7,578		308,652
Freightcar America Inc.	2,385		132,391
Frontier Airlines Holdings Inc. (a)	7,888		56,873
Genesee & Wyoming Inc. (a)	6,967		247,120
Greenbrier Companies Inc.	2,081		68,132
GulfMark Offshore Inc. (a)	3,037		78,446
Heartland Express Inc.	13,417		240,030
Horizon Lines Inc.	1,298		20,794
Hub Group Inc. (a)	7,546		185,103
IMPCO Technologies Inc. (a)	3,706		39,543
Interpool Inc.	1,579		35,085
Jetblue Airways Corp. (a)	33,003		400,656
Keystone Automotive Industries Inc. (a)	3,388		143,041
Knight Transportation Inc.	12,657		255,671
Lear Corp.	12,160		270,074
Marine Products Corp.	3,600		35,028
Maritrans Inc.	1,482		36,902
Marten Transport Ltd. (a)	2,475		53,807
Mesa Air Group Inc. (a)	6,593		64,941
Miller Industries Inc. (a)	1,369		28,338
Modine Manufacturing Co.	6,653		155,414
Monaco Coach Corp.	6,305		80,074
Navistar International Corp. (a)	10,596		260,768
Noble International Ltd.	1,914		27,408
Old Dominion Freight Line Inc. (a)	5,608		210,805
P.A.M. Transportation Services Inc. (a)	745		21,523
Pacer International Inc.	7,330		238,811
Patriot Transportation Holding Inc. (a)	173		15,013
PHI Inc. (a)	2,624		87,117


	Shares	Value
Common Stocks (Cont.)

Automotive & Transportation (Cont.)
Polaris Industries Inc.	7,388	$	319,900
Quality Distribution Inc. (a)	1,071		14,223
Quantum Fuel Systems Technologies Worldwide Inc. (a)	7,025		23,885
RailAmerica Inc. (a)	7,981		83,481
Republic Airways Holdings Inc. (a)	5,936		101,031
SCS Transportation Inc. (a)	3,237		89,115
Skywest Inc.	12,096		299,981
Superior Industries International Inc.	4,674		85,487
Tenneco Inc. (a)	9,740		253,240
Universal Truckload Services Inc. (a)	808		27,577
US Xpress Enterprises Inc. Class A (a)	1,521		41,097
USA Truck Inc. (a)	1,014		18,069
Visteon Corp. (a)	28,727		207,122
Wabash National Corp.	6,741		103,542
Werner Enterprises Inc.	10,641		215,693
Winnebago Industries Inc.	6,462		200,581

			9,831,548

Consumer Discretionary (17.96%)
1-800-FLOWERS.COM Inc. (a)	4,082		23,553
24/7 Real Media Inc. (a)	8,844		77,650
99 Cents Only Stores (a)	9,649		100,929
Aaron Rents Inc.	8,478		227,889
ABM Industries Inc.	8,679		148,411
AC Moore Arts & Crafts Inc. (a)	3,021		49,273
Administaff Inc.	4,443		159,104
Advisory Board Co. (a)	4,262		204,960
Advo Inc.	6,670		164,149
Aeropostale Inc. (a)	11,333		327,410
AFC Enterprises (a)	5,387		68,684
Alderwoods Group Inc. (a)	8,600		167,356
Ambassadors Group Inc.	3,754		108,416
Ambassadors International Inc.	1,052		24,459
America’s Car-Mart Inc. (a)	1,696		34,446
American Greetings Corp.	9,470		198,965
American Retirement Corp. (a)	6,564		215,102
American Woodmark Corp.	2,358		82,624
Ameristar Casinos Inc.	4,974		96,744
AMN Healthcare Services Inc. (a)	5,565		112,970
Applebee’s International Inc.	13,205		253,800
aQuantive Inc. (a)	14,322		362,776
Arbitron Inc.	6,618		253,668
Arctic Cat Inc.	3,670		71,602
Asbury Automotive Group Inc. (a)	3,119		65,312
Aztar Corp. (a)	7,509		390,168
Bally Technologies Inc. (a)	11,268		185,584
Bally Total Fitness Holding Corp. (a)	5,895		39,968
Banta Corp.	4,628		214,415
Barrett Business Services Inc. (a)	1,117		20,497
bebe stores inc.	3,326		51,287
Belo Corp.	15,562		242,767


	Shares	Value
Common Stocks (Cont.)

Consumer Discretionary (Cont.)
Big 5 Sporting Goods Corp.	4,749	$	92,606
Big Lots Inc. (a)	21,203		362,147
BJ’s Restaurant Inc. (a)	2,861		63,915
Blockbuster Inc. (a)	35,707		177,821
Blue Nile Inc. (a)	2,926		94,100
Blyth Inc.	5,123		94,571
Bob Evans Farms Inc.	8,007		240,290
Bon-Ton Stores Inc.	921		20,151
Books-A-Million Inc.	2,240		37,363
Borders Group Inc.	11,035		203,706
Bowne & Co. Inc.	8,388		119,948
Bright Horizons Family Solutions Inc. (a)	5,986		225,612
Brightpoint Inc. (a)	11,682		158,057
Brown Shoe Co. Inc.	5,800		197,664
Buckle Inc.	1,875		78,506
Buffalo Wild Wings Inc. (a)	1,490		57,082
Build-A-Bear Workshop Inc. (a)	2,365		50,871
Cabela’s Inc. (a)	5,512		106,161
Cache Inc. (a)	1,987		34,455
California Pizza Kitchen Inc. (a)	4,158		114,262
Callaway Golf Co.	14,933		193,980
Carmike Cinemas Inc.	2,268		47,809
Carter’s Inc. (a)	8,560		226,241
Casella Waste Systems Inc. (a)	4,100		53,669
Casual Male Retail Group Inc. (a)	6,376		64,079
Catalina Marketing Corp.	10,842		308,563
Cato Corp. Class A	6,313		163,191
CBIZ Inc. (a)	10,497		77,783
CDI Corp.	2,940		85,260
CEC Entertainment Inc. (a)	7,241		232,581
Central European Distribution Corp. (a)	6,137		154,407
Central Garden & Pet Co. (a)	3,932		169,273
Central Parking Corp.	5,770		92,320
Century Casinos Inc. (a)	3,826		40,976
Cenveo Inc. (a)	9,746		174,941
Charlotte Russe Holding Inc. (a)	2,549		61,023
Charming Shoppes Inc. (a)	25,532		286,980
Charter Communications Inc. (a)	69,135		78,123
Chattem Inc. (a)	3,845		116,773
Chemed Corp.	5,367		292,663
Cherokee Inc.	1,566		64,770
Children’s Place Retail Stores Inc. (a)	4,103		246,385
Chipolte Mexican Grill Inc. (a)	1,414		86,183
Christopher & Banks Corp.	8,159		236,611
Churchill Downs Inc.	1,791		67,073
Citadel Broadcasting Corp.	6,903		61,437
Citi Trends Inc. (a)	1,054		44,995
CKE Restaurants Inc.	11,743		195,051
CKX Inc. (a)	9,772		132,606
Clark Inc.	4,368		57,658
CMGI Inc. (a)	87,372		105,720
CNET Networks Inc. (a)	27,636		220,535
CNS Inc.	2,284		55,958


	Shares	Value
Common Stocks (Cont.)

Consumer Discretionary (Cont.)
Cogent Inc. (a)	7,600	$	114,532
Coinmach Service Corp.	4,729		48,472
Coinstar Inc. (a)	5,579		133,561
Columbia Sportswear Co. (a)	1,830		82,826
Conn’s Inc. (a)	1,215		32,258
Consolidated Graphics Inc. (a)	2,663		138,636
Core-Mark Holding Co. Inc. (a)	1,596		57,137
Corinthian Colleges Inc. (a)	17,401		249,878
Cornell Co. Inc. (a)	1,380		21,197
Cosi Inc. (a)	6,970		43,423
Cost Plus Inc. (a)	4,871		71,409
CoStar Group Inc. (a)	3,782		226,277
Courier Corp.	1,897		75,918
Covad Communications Group Inc. (a)	54,586		109,718
Cox Radio Inc. (a)	7,191		103,694
CRA International Inc. (a)	2,301		103,867
Crocs Inc. (a)	1,663		41,824
Cross Country Healthcare Inc. (a)	5,825		105,957
Crown Media Holdings Inc. (a)	5,600		23,072
CSK Auto Corp. (a)	9,855		117,964
CSS Industries Inc.	768		22,080
Cumulus Media Inc. (a)	11,129		118,746
Deb Shops Inc.	1,160		27,968
Deckers Outdoor Corp. (a)	1,952		75,269
dELiA*s Inc. (a)	4,058		32,789
Denny’s Corp. (a)	25,949		95,752
DeVry Inc. (a)	11,143		244,812
DHB Industries Inc. (a) (b)	5,191		2,024
DiamondCluster International Inc. (a)	5,535		43,837
Directed Electronics Inc. (a)	909		11,926
Dollar Thrifty Automotive Group Inc. (a)	5,304		239,051
Domino’s Pizza Inc.	6,841		169,246
Dover Downs Gaming & Entertainment Inc.	2,506		49,218
Dover Motorsports Inc.	3,660		21,484
Dress Barn Inc. (a)	10,218		259,026
drugstore.com inc. (a)	14,097		40,881
DSW Inc. (a)	2,585		94,146
DTS Inc. (a)	4,082		79,517
DynCorp International Inc. (a)	3,780		39,236
Earthlink Inc. (a)	27,623		239,215
Educate Inc. (a)	2,378		18,215
Elizabeth Arden Inc. (a)	5,056		90,401
Emmis Communications Corp. (a)	8,342		130,469
Ennis Inc.	5,527		108,771
Entercom Communications Corp.	7,088		185,422
Entravision Communications Corp. (a)	12,260		105,068
Ethan Allen Interiors Inc.	6,829		249,600
Exponent Inc. (a)	2,718		45,934
EZCORP Inc. (a)	2,183		82,277
First Advantage Corp. Class A (a)	619		14,398
First Consulting Group Inc. (a)	3,183		28,138
Fisher Communications Inc. (a)	1,361		57,339


	Shares	Value
Common Stocks (Cont.)

Consumer Discretionary (Cont.)
Forrester Research Inc. (a)	3,838	$	107,387
Fossil Inc. (a)	8,929		160,811
Fred’s Inc.	8,903		118,855
FTD Group Inc. (a)	1,722		23,247
FTI Consulting Inc. (a)	9,153		245,026
Furniture Brands International Inc.	10,124		210,984
G&K Services Inc. Class A	4,109		140,939
Gaiam Inc. (a)	2,834		39,733
Gaylord Entertainment Co. (a)	8,197		357,717
Gemstar-TV Guide International Inc. (a)	43,917		154,588
Genesco Inc. (a)	4,771		161,594
Geo Group Inc. (a)	2,594		90,920
Gevity HR Inc.	5,450		144,698
Gray Television Inc.	9,926		57,472
Great Wolf Resorts Inc. (a)	4,571		54,898
Group 1 Automotive Inc.	4,668		262,995
GSI Commerce Inc. (a)	6,661		90,123
Guess ? Inc. (a)	3,726		155,561
Guitar Center Inc. (a)	5,310		236,136
Gymboree Corp. (a)	6,453		224,306
Harris Interactive Inc. (a)	9,415		53,666
Hartmarx Corp. (a)	3,850		23,100
Haverty Furniture Companies Inc.	4,011		62,933
Heidrick & Struggles International Inc. (a)	4,556		154,175
Hibbett Sporting Goods Inc. (a)	7,470		178,533
Hollinger International Inc.	15,457		124,120
Home Solutions of America Inc. (a)	6,661		41,098
Hooker Furniture Corp.	3,283		55,056
Hot Topic Inc. (a)	9,783		112,602
Hudson Highland Group Inc. (a)	4,990		53,842
Iconix Brand Group Inc. (a)	6,619		108,154
ICT Group Inc. (a)	1,112		27,277
IHOP Corp.	4,312		207,321
Ikanos Communications (a)	3,291		49,990
IKON Office Solutions Inc.	19,939		251,231
Infospace Inc. (a)	6,787		153,861
InfoUSA Inc.	6,127		63,169
Insight Enterprises Inc. (a)	10,607		202,063
Inter Parfums Inc.	958		16,497
Internap Network Services Corp. (a)	54,506		57,231
inVentiv Health Inc. (a)	5,283		152,045
iPass Inc. (a)	10,839		60,698
Isle of Capri Casinos Inc. (a)	3,984		102,190
Jack in the Box Inc. (a)	7,402		290,158
Jackson Hewitt Tax Service Inc.	8,248		258,575
Jakks Pacific Inc. (a)	5,548		111,459
Jo-Ann Stores Inc. (a)	4,446		65,134
John H Harland Co.	5,461		237,553
Jos. A. Bank Clothiers Inc. (a)	3,270		78,349
Journal Communications Inc. Class A	6,832		76,792
Journal Register Co.	9,571		85,756
K-Swiss Inc. Class A	5,677		151,576


	Shares	Value
Common Stocks (Cont.)

Consumer Discretionary (Cont.)
K2 Inc. (a)	9,036	$	98,854
Kellwood Co.	6,037		176,703
Kelly Services Inc. Class A	3,924		106,615
Kenexa Corp. (a)	2,978		94,849
Kenneth Cole Productions Inc.	2,255		50,354
Kforce Inc. (a)	4,942		76,552
Kimball International Inc. Class B	7,187		141,656
Korn/Ferry International (a)	7,897		154,702
Krispy Kreme Doughnuts Inc. (a)	12,179		99,137
La-Z-Boy Inc.	11,437		160,118
Labor Ready Inc. (a)	10,590		239,864
Lakes Entertainment Inc. (a)	3,985		48,179
Lancaster Colony Corp.	5,051		199,363
Landry’s Restaurants Inc.	3,494		113,380
Lawson Products Inc.	834		32,876
Leapfrog Enterprises Inc. (a)	7,131		72,023
LECG Corp. (a)	4,142		76,503
Lee Enterprises Inc. Class A	8,007		215,789
Life Time Fitness Inc. (a)	5,500		254,485
Lifetime Brands Inc.	2,013		43,622
Lin TV Corp. (a)	6,690		50,510
Lincoln Educational Services (a)	157		2,683
Liquidity Services Inc. (a)	1,286		20,023
Lithia Motors Inc. Class A	3,598		109,091
Live Nation Inc. (a)	11,859		241,449
LKQ Corp. (a)	7,878		149,682
LodgeNet Entertainment Corp. (a)	3,076		57,367
Lodgian Inc. (a)	5,278		75,212
LoJack Corp. (a)	3,250		61,295
Lone Star Steakhouse & Saloon Inc.	3,582		93,956
Luby’s Inc. (a)	3,857		40,229
Magna Entertainment Corp. (a)	9,510		50,023
Maidenform Brands Inc. (a)	2,066		25,474
Mannatech Inc.	3,189		40,213
Marchex Inc. Class B (a)	4,237		69,614
Marcus Corp.	4,820		100,642
MarineMax Inc. (a)	2,705		70,952
Martha Stewart Living Omnimedia Inc. (a)	4,437		74,142
Marvel Entertainment Inc. (a)	8,334		166,680
Matthews International Corp.	6,924		238,670
MAXIMUS Inc.	4,123		95,447
McCormick & Schmick’s Seafood Restaurants Inc. (a)	2,356		56,073
Media General Inc.	3,976		166,555
Mediacom Communications Corp. Class A (a)	13,610		84,790
Midas Inc. (a)	4,172		76,765
Midway Games Inc. (a)	5,983		48,402
Monarch Casino & Resort Inc. (a)	1,854		52,134
Monro Muffler Brake Inc.	1,918		62,450
Morgans Hotel Group (a)	3,681		57,276
Morton’s Restaurant Group Inc. (a)	1,476		22,612


	Shares	Value
Common Stocks (Cont.)

Consumer Discretionary (Cont.)
Movado Group Inc.	4,600	$	105,570
MPS Group Inc. (a)	23,326		351,290
MTR Gaming Group Inc. (a)	4,420		41,460
Multimedia Games Inc. (a)	4,908		49,718
MWI Veterinary Supply Inc. (a)	934		34,026
National Presto Industries Inc.	1,399		73,140
Nautilus Inc.	6,852		107,645
Navigant Consulting Inc. (a)	10,787		244,326
Navigant International Inc. (a)	2,144		34,368
Net 1 UEPS Technologies Inc. (a)	9,214		252,003
Netflix Inc. (a)	7,452		202,769
Netratings Inc. (a)	2,858		39,698
New York & Co. Inc. (a)	2,750		26,868
NIC Inc. (a)	6,215		44,934
Nu Skin Enterprises Inc.	11,710		173,893
O’Charley’s Inc. (a)	5,111		86,887
Oakley Inc.	6,009		101,252
On Assignment Inc. (a)	4,408		40,510
Outdoor Channel Holdings Inc. (a)	2,708		27,947
Overstock.com Inc. (a)	2,553		54,277
Oxford Industries Inc.	3,029		119,373
Pacific Sunwear of California Inc. (a)	15,091		270,582
Pantry Inc. (a)	4,201		241,726
Papa John’s International Inc. (a)	5,214		173,105
ParkerVision Inc. (a)	3,327		30,276
Parlux Fragrances Inc. (a)	2,418		23,430
Payless Shoesource Inc. (a)	13,985		379,972
PeopleSupport Inc. (a)	3,332		44,849
PEP Boys-Manny Moe & Jack	11,861		139,130
Perficient Inc. (a)	3,075		38,007
Perry Ellis International Inc. (a)	1,408		35,636
Petco Animal Supplies Inc. (a)	11,117		227,120
PetMed Express Inc. (a)	3,497		38,362
PF Chang’s China Bistro Inc. (a)	5,473		208,083
PHH Corp. (a)	10,510		289,445
Phillips-Van Heusen Corp.	10,009		381,943
Pier 1 Imports Inc.	15,426		107,673
Pinnacle Entertainment Inc. (a)	8,839		270,915
Playboy Enterprises Inc. (a)	4,731		47,215
Playtex Products Inc. (a)	9,512		99,210
Pre-Paid Legal Services Inc.	2,426		83,697
Prestige Brands Holdings Inc. (a)	5,275		52,592
Priceline.com Inc. (a)	5,410		161,543
PriceSmart Inc. (a)	863		8,647
Primedia Inc. (a)	36,110		66,081
Private Media Group Inc. (a)	5,369		25,234
Progressive Gaming International Corp. (a)	5,726		44,663
ProQuest Co. (a)	5,371		66,010
Quiksilver Inc. (a)	22,040		268,447
Radio One Inc. Class D (a)	15,513		114,796
Rare Hospitality International Inc. (a)	7,548		217,080
RC2 Corp. (a)	3,719		143,777


	Shares	Value
Common Stocks (Cont.)

Consumer Discretionary (Cont.)
Reader’s Digest Association Inc.	20,592	$	287,464
Red Robin Gourmet Burgers Inc. (a)	3,084		131,255
Regis Corp.	9,132		325,191
Renaissance Learning Inc.	2,288		31,002
Rent-A-Center Inc. (a)	12,592		313,037
Resources Connection Inc. (a)	10,294		257,556
Restoration Hardware Inc. (a)	5,593		40,158
Retail Ventures Inc. (a)	3,307		58,931
Revlon Inc. (a)	29,760		37,498
Riviera Holdings Corp. (a)	1,916		39,661
Rollins Inc.	6,979		137,068
Ruby Tuesday Inc.	12,694		309,861
Rush Enterprises Inc. Class A (a)	3,100		56,327
Russ Berrie & Co. Inc. (a)	2,502		30,675
Russell Corp.	6,605		119,947
Ruth’s Chris Steak House (a)	3,053		62,342
Ryan’s Restaurant Group Inc. (a)	9,287		110,608
Salem Communications Corp. (a)	2,749		35,764
Schawk Inc.	2,559		44,783
Scholastic Corp. (a)	6,919		179,686
School Specialty Inc. (a)	4,835		153,995
Sealy Corp. (a)	2,699		35,816
Select Comfort Corp. (a)	12,297		282,462
Shoe Carnival Inc. (a)	2,178		51,967
Shuffle Master Inc. (a)	7,748		253,979
Sinclair Broadcast Group Inc.	8,907		76,244
SIRVA Inc. (a)	7,560		48,913
Sitel Corp. (a)	9,533		37,369
Six Flags Inc. (a)	21,290		119,650
Skechers U.S.A. Inc. (a)	4,990		120,309
Sohu.com Inc. (a)	5,148		132,767
Sonic Automotive Inc.	6,306		139,867
Sonic Corp. (a)	16,163		336,029
Sotheby’s Holdings Inc. (a)	11,304		296,730
Source Interlink Co. Inc. (a)	5,887		70,055
Sourcecorp (a)	3,691		91,500
Spanish Broadcasting System Inc. (a)	7,500		38,325
Spectrum Brands Inc. (a)	5,716		73,851
Speedway Motorsports Inc.	2,732		103,106
Spherion Corp. (a)	13,991		127,598
Stage Stores Inc.	5,907		194,931
Stamps.com Inc. (a)	4,132		114,952
Standard Parking Corp. (a)	761		20,608
Standard Register Co.	4,163		49,332
Stanley Furniture Co. Inc.	2,360		56,569
Star Maritime Acquisition Corp. (a)	2,559		25,999
Startek Inc.	2,775		41,486
Stein Mart Inc.	5,275		78,070
Steinway Musical Instruments Inc. (a)	1,659		40,679
Steven Madden Ltd. (a)	3,967		117,503
Stewart Enterprises Inc.	23,831		137,028
Strayer Education Inc.	3,064		297,576
Stride Rite Corp.	8,174		107,815


	Shares	Value
Common Stocks (Cont.)

Consumer Discretionary (Cont.)
Syms Corp. (a)	462	$	8,501
Synagro Technologies Inc.	12,041		47,321
Systemax Inc. (a)	654		5,101
Take-Two Interactive Software Inc. (a)	12,216		132,177
Talbots Inc.	4,332		79,925
TeleTech Holdings Inc. (a)	8,630		109,256
Tempur-Pedic International Inc. (a)	8,245		111,390
Texas Roadhouse Inc. Class A (a)	9,738		131,658
The Finish Line Inc. Class A	8,734		103,323
The Knot Inc. (a)	3,126		65,427
The Men’s Wearhouse Inc.	8,378		253,853
The Providence Service Corp. (a)	2,249		61,240
The Sportsman’s Guide Inc. (a)	1,350		41,175
The Steak n Shake Co. (a)	5,678		85,965
The Yankee Candle Co. Inc.	9,391		234,869
THQ Inc. (a)	12,490		269,784
Timberland Co. (a)	8,823		230,280
TiVo Inc. (a)	14,477		103,511
Too Inc. (a)	7,200		276,408
Topps Co. Inc.	7,818		64,264
Travelzoo Inc. (a)	667		20,237
Triarc Companies Inc. Class B	11,133		174,009
True Religion Apparel Inc. (a)	2,337		41,365
Trump Entertainment Resorts Inc. (a)	4,895		98,634
Tuesday Morning Corp.	5,570		73,246
Tupperware Brands Corp.	10,922		215,054
Under Armour Inc. Class A (a)	3,768		160,592
Unifirst Corp.	2,415		83,318
United Online Inc.	13,650		163,800
United Stationers Inc. (a)	6,583		324,674
Universal Electronics Inc. (a)	2,900		51,359
Universal Technical Institute Inc. (a)	4,584		100,940
USANA Health Sciences Inc. (a)	2,409		91,301
Vail Resorts Inc. (a)	5,814		215,699
Valassis Communications Inc. (a)	9,964		235,051
Value Line Inc.	444		18,959
ValueClick Inc. (a)	18,772		288,150
ValueVision Media Inc. Class A (a)	5,214		57,510
Vertrue Inc. (a)	2,069		89,029
Viad Corp.	4,497		140,756
Volcom Inc. (a)	2,358		75,432
Volt Information Sciences Inc. (a)	2,248		104,757
Warnaco Group Inc. (a)	9,760		182,317
Waste Connections Inc. (a)	9,157		333,315
Waste Industries USA Inc.	927		21,024
Waste Services Inc. (a)	11,808		106,154
Watson Wyatt Worldwide Inc.	7,288		256,100
WD-40 Co.	3,862		129,647
WebSideStory Inc. (a)	3,007		36,685
West Marine Inc. (a)	3,131		42,206
Westwood One Inc.	12,099		90,743
Wet Seal Inc. (a)	11,191		54,612
Weyco Group Inc.	704		16,347


	Shares	Value
Common Stocks (Cont.)

Consumer Discretionary (Cont.)
Wireless Facilities Inc. (a)	11,848	$	32,582
WMS Industries Inc. (a)	4,599		125,967
Wolverine World Wide Inc.	12,115		282,643
World Fuel Services Corp.	5,557		253,899
World Wrestling Entertainment Inc.	3,627		61,260
Zale Corp. (a)	10,302		248,175
Zumiez Inc. (a)	2,538		95,353

			48,915,370

Consumer Staples (1.76%)
Alliance One International Inc.	18,054		80,160
Arden Group Inc. Class A	163		18,447
Boston Beer Co. Inc. (a)	2,003		58,668
Casey’s General Stores Inc.	11,095		277,486
Chiquita Brands International Inc.	8,830		121,677
Coca-Cola Bottling Co. Consolidated	461		23,405
Diamond Foods Inc.	2,523		40,545
Farmer Brothers Co.	2,000		43,360
Flowers Foods Inc.	10,473		299,947
Green Mountain Coffee Roasters Inc. (a)	840		33,743
Hain Celestial Group Inc. (a)	6,043		155,668
Imperial Sugar Co.	2,143		50,832
Ingles Markets Inc.	2,553		43,401
J&J Snack Foods Corp.	2,580		85,321
Jones Soda Co. (a)	4,600		41,400
Lance Inc.	5,292		121,822
Longs Drug Stores Corp.	5,832		266,056
M & F Worldwide Corp. (a)	2,173		34,985
Maui Land & Pineapple Co. Inc. (a)	639		24,154
Medifast Inc. (a)	2,221		39,689
Nash Finch Co.	2,910		61,954
National Beverage Corp.	1,832		26,289
Pathmark Stores Inc. (a)	8,960		84,314
Peet’s Coffee & Tea Inc. (a)	2,997		90,479
Performance Food Group Co. (a)	9,236		280,590
Pilgrim’s Pride Corp.	7,220		186,276
Premium Standard Farms Inc.	1,876		30,447
Ralcorp Holdings Inc. (a)	6,082		258,667
Reddy Ice Holdings Inc.	2,481		50,488
Ruddick Corp.	7,500		183,825
Sanderson Farms Inc.	2,778		77,756
Seaboard Corp.	58		74,240
Sensient Technology Corp.	10,133		211,881
Smart & Final Inc. (a)	3,327		56,027
Spartan Stores Inc.	3,740		54,716
The Great Atlantic & Pacific Tea Co. Inc.	4,050		92,016
Tiens Biotech Group USA Inc. (a)	361		1,545
Tootsie Roll Industries Inc.	5,353		155,933
TreeHouse Foods Inc. (a)	5,465		130,559
United Natural Foods Inc. (a)	8,850		292,227
Universal Corp.	4,605		171,398
Vector Group Ltd.	6,580		106,925
Village Super Market Inc.	182		11,897


	Shares	Value
Common Stocks (Cont.)

Consumer Staples (Cont.)
Weis Markets Inc.	2,964	$	122,117
Wild Oats Markets Inc. (a)	6,559		128,556

			4,801,888

Durable Products (6.98%)
ACCO Brands Corp. (a)	7,983		174,828
Actuant Corp. Class A	5,504		274,925
ADE Corp. (a)	2,194		71,283
Advanced Energy Industries Inc. (a)	5,639		74,660
Albany International Corp. Class A	5,940		251,797
American Ecology Corp.	2,924		77,486
American Superconductor Corp. (a)	5,481		48,397
Andrew Corp. (a)	28,585		253,263
AO Smith Corp.	3,478		161,240
Applied Films Corp. (a)	3,622		103,191
Applied Industrial Technologies Inc.	9,601		233,400
ARGON ST Inc. (a)	1,905		50,730
Arris Group Inc. (a)	19,716		258,674
Astec Industries Inc. (a)	3,167		108,058
ASV Inc. (a)	3,334		76,815
Asyst Technologies Inc. (a)	11,241		84,645
ATMI Inc. (a)	7,809		192,258
Audiovox Corp. (a)	4,114		56,197
Axcelis Technologies Inc. (a)	22,063		130,172
Badger Meter Inc.	2,065		55,755
Baldor Electric Co.	6,930		216,840
Basin Water Inc. (a)	574		5,751
BE Aerospace Inc. (a)	14,138		323,195
Belden CDT Inc.	9,814		324,353
Blount International Inc. (a)	5,595		67,252
Brady Corp.	8,290		305,404
Briggs & Stratton Corp.	9,780		304,256
Brooks Automation Inc. (a)	17,239		203,420
Bucyrus International Inc. Class A	6,177		311,938
C-COR Inc. (a)	10,381		80,141
CalAmp Corp. (a)	3,819		33,951
Capstone Turbine Corp. (a)	17,462		39,813
Cascade Corp.	2,454		97,056
Cavco Industries Inc. (a)	948		42,129
Champion Enterprises Inc. (a)	15,801		174,443
Cognex Corp.	8,455		220,084
Cohu Inc.	5,526		96,981
Color Kinetics Inc. (a)	2,499		47,256
Columbus McKinnon Corp. (a)	2,714		59,002
CompX International Inc.	800		14,320
Credence Systems Corp. (a)	18,526		64,841
CTS Corp.	8,673		129,141
Curtiss-Wright Corp.	8,850		273,288
Cymer Inc. (a)	7,554		350,959
Darling International Inc. (a)	13,321		60,344
Dionex Corp. (a)	4,189		228,971
DXP Enterprises Inc. (a)	175		5,437


	Shares	Value
Common Stocks (Cont.)

Durable Products (Cont.)
Electro Scientific Industries Inc. (a)	6,747	$	121,379
Emcore Corp. (a)	6,986		67,066
EnPro Industries Inc. (a)	4,856		163,162
Entegris Inc. (a)	26,119		248,914
ESCO Technologies Inc. (a)	5,246		280,399
Esterline Technologies Corp. (a)	4,738		197,053
Federal Signal Corp.	10,679		161,680
FEI Co. (a)	5,355		121,451
Flanders Corp. (a)	1,978		19,839
Flow International Corp. (a)	6,270		88,219
Franklin Electric Co. Inc.	3,847		198,659
Gehl Co. (a)	1,644		41,971
GenCorp Inc. (a)	10,386		166,488
General Cable Corp. (a)	9,147		320,145
GenTek Inc. (a)	1,184		31,790
Global Imaging Systems Inc. (a)	5,204		214,821
Heico Corp.	4,283		121,423
Herman Miller Inc.	11,037		284,423
Hovnanian Enterprises Inc. (a)	9,248		278,180
InterDigital Communications Corp. (a)	11,667		407,295
Interface Inc. (a)	9,451		108,214
Intevac Inc. (a)	3,972		86,113
Itron Inc. (a)	4,938		292,626
K&F Industries Holdings Inc. (a)	2,735		48,492
Kadant Inc. (a)	3,068		70,564
Kaman Corp.	4,732		86,122
Knoll Inc.	5,038		92,498
Kulicke & Soffa Industries Inc. (a)	11,745		87,030
Levitt Corp Class A	3,711		59,376
Lindsay Manufacturing Co.	3,428		92,967
Littelfuse Inc. (a)	4,897		168,359
LTX Corp. (a)	13,895		97,404
M/I Homes Inc.	2,631		92,295
MasTec Inc. (a)	6,569		86,776
Mattson Technology Inc. (a)	8,834		86,308
Measurement Specialties Inc. (a)	2,636		58,704
Meritage Homes Corp. (a)	3,801		179,597
Metrologic Instruments Inc. (a)	2,210		33,172
Middleby Corp. (a)	1,127		97,553
Mine Safety Appliances Co.	5,403		217,201
MKS Instruments Inc. (a)	7,339		147,661
Mobile Mini Inc. (a)	6,620		193,701
Moog Inc. (a)	7,096		242,825
MTC Technologies Inc. (a)	1,923		45,440
NACCO Industries Inc.	1,150		158,021
Nordson Corp.	5,596		275,211
Orbital Sciences Corp. (a)	11,345		183,108
Orleans Homebuilders Inc.	448		7,280
OYO Geospace Corp. (a)	696		39,749
Palm Harbor Homes Inc. (a)	3,557		62,568
Paxar Corp. (a)	7,590		156,126
Photon Dynamics Inc. (a)	4,018		50,305
Photronics Inc. (a)	7,762		114,878


	Shares	Value
Common Stocks (Cont.)

Durable Products (Cont.)
Plantronics Inc.	9,312	$	206,820
Powell Industries Inc. (a)	1,390		33,263
Power-One Inc. (a)	14,905		98,373
Powerwave Technologies Inc. (a)	21,852		199,290
Presstek Inc. (a)	6,899		64,230
Radyne Corp. (a)	2,903		33,036
RAE Systems Inc. (a)	6,795		27,180
Raser Technologies Inc. (a)	3,119		30,067
Regal-Beloit Corp.	5,647		249,315
Robbins & Myers Inc.	3,398		88,824
Rofin-Sinar Technologies Inc. (a)	3,409		195,915
Rudolph Technologies Inc. (a)	6,160		89,320
Sauer-Danfoss Inc.	2,992		76,057
Semitool Inc. (a)	3,500		31,570
Sequa Corp. (a)	1,427		116,301
Skyline Corp.	1,829		78,245
Smith & Wesson Holding Corp. (a)	4,949		40,681
Sonic Solutions (a)	4,946		81,609
Standex International Corp.	2,910		88,319
Symmetricom Inc. (a)	9,478		67,009
TAL International Group Inc. (a)	2,434		58,659
Taser International Inc. (a)	11,776		93,148
Team Inc. (a)	1,070		26,804
Technical Olympic USA Inc.	2,507		36,001
Technitrol Inc.	9,172		212,332
Tecumseh Products Co. (a)	3,622		69,542
Teledyne Technologies Inc. (a)	7,209		236,167
Tennant Co.	2,146		107,901
The Gormann-Rupp Co.	1,987		52,854
Titan International Inc.	2,510		46,962
TransDigm Group Inc. (a)	1,215		29,099
Triumph Group Inc. (a)	3,668		176,064
TurboChef Technologies Inc. (a)	2,646		29,424
Ultratech Inc. (a)	4,871		76,670
United Industrial Corp.	2,458		111,225
Varian Semiconductor Equipment Associates Inc. (a)	10,740		350,231
Veeco Instruments Inc. (a)	6,137		146,306
Vicor Corp.	4,537		75,178
Viisage Technology Inc. (a)	4,125		62,535
Wabtec Corp.	9,143		341,948
Watts Water Technologies Inc.	5,341		179,191
WCI Communities Inc. (a)	7,273		146,478
Woodward Governor Co.	6,285		191,755
X-Rite Inc.	4,133		45,422
Zygo Corp. (a)	2,944		48,252

			19,016,513

Financial Services (21.25%)
1st Source Corp.	3,794		128,351
21st Century Insurance Group	4,755		68,472
Aames Investment Corp.	8,448		42,156


	Shares	Value
Common Stocks (Cont.)

Financial Services (Cont.)
Acadia Realty Trust	5,076	$	120,047
Accredited Home Lenders Holding Co. (a)	3,761		179,813
ACE Cash Express Inc. (a)	2,011		58,862
Advance America Cash Advance Centers Inc.	12,136		212,865
Advanta Corp.	4,700		168,965
Advent Software Inc. (a)	5,332		192,325
Affirmative Insurance Holding Inc.	911		14,257
Agree Realty Corp.	1,738		59,040
Alabama National Bancorporation	2,877		196,068
Alexander’s Inc. (a)	600		163,056
Alexandria Real Estate Equities Inc.	4,473		396,666
Alfa Corp.	10,104		167,322
Amcore Financial Inc.	5,293		155,138
American Campus Communities Inc.	4,095		101,761
American Equity Investment Life Holdings Co.	9,315		99,298
American Financial Realty Trust	23,110		223,705
American Home Mortgage Investment Corp.	8,018		295,543
American Physicians Capital Inc. (a)	2,522		132,632
AmericanWest Bancorp	1,582		35,832
Ameris Bancorp	2,760		63,866
Anchor Bancorp Wisconsin Inc.	4,474		134,981
Anthracite Capital Inc.	10,555		128,349
Anworth Mortgage Asset Corp.	8,846		73,422
Apollo Investment Corp.	14,990		277,015
Arbor Realty Trust Inc.	2,445		61,247
Ares Capital Corp.	6,828		115,598
Argonaut Group Inc. (a)	5,466		164,199
Arrow Financial Corp.	2,458		67,423
Ashford Hospitality Trust Inc.	9,077		114,552
Asset Acceptance Capital Corp. (a)	2,736		54,173
Asta Funding Inc.	2,534		94,898
Avatar Holdings Inc. (a)	1,175		66,940
Baldwin & Lyons Inc.	2,266		57,783
BancFirst Corp.	1,654		74,016
BancTrust Financial Group Inc.	3,517		82,544
Bank Mutual Corp.	16,887		206,359
Bank of Granite Corp.	2,926		60,949
Bank of the Ozarks Inc.	2,305		76,756
BankAtlantic Bancorp Inc.	9,926		147,302
BankFinancial Corp.	2,904		50,239
Bankrate Inc. (a)	1,869		70,573
BankUnited Financial Corp.	6,189		188,888
Banner Corp.	2,260		87,100
Berkshire Hills Bancorp Inc.	2,118		75,147
BFC Financial Corp. (a)	360		2,491
BioMed Realty Trust Inc.	10,235		306,436
Boston Private Financial Holdings Inc.	6,124		170,860
Bristol West Holdings Inc.	3,812		60,992


	Shares	Value
Common Stocks (Cont.)

Financial Services (Cont.)
Brookline Bancorp Inc.	13,097	$	180,346
Cadence Financial Corp.	2,127		47,368
Calamos Asset Management Inc. Class A	5,009		145,211
Camden National Corp.	2,196		87,620
Capital City Bank Group Inc.	2,640		79,728
Capital Corp. of the West	1,411		45,152
Capital Lease Funding Inc.	6,611		75,431
Capital Southwest Corp.	307		32,066
Capital Title Group Inc.	3,756		27,682
Capital Trust Inc.	2,780		99,024
Capitol Bancorp Ltd.	2,504		97,531
Cardinal Financial Corp.	4,141		48,118
Cascade Bancorp	4,777		136,192
Cash America International Inc.	6,725		215,200
Cass Information Systems Inc.	555		27,023
Cathay General Bancorp	9,428		342,991
Cedar Shopping Centers Inc.	6,690		98,477
Centennial Bank Holdings Inc. (a)	9,384		97,031
Center Financial Corp.	1,599		37,800
Centerstate Banks of Florida Inc.	1,024		20,992
CentraCore Properties Trust	3,238		80,140
Central Pacific Financial Corp.	6,519		252,285
Charter Financial Corp.	800		31,568
CharterMac	9,440		176,622
Chemical Financial Corp.	5,577		170,656
Chittenden Corp.	9,004		232,753
Citizens Banking Corp.	8,906		217,395
Citizens First Bancorp Inc.	892		23,825
City Bank	2,597		121,176
City Holding Co.	3,800		137,332
Clayton Holdings Inc. (a)	1,203		15,699
Clifton Savings Bancorp Inc.	389		4,213
CNA Surety Corp. (a)	2,515		43,459
Coastal Financial Corp.	5,570		72,633
CoBiz Inc.	3,520		79,270
Cohen & Steers Inc.	2,000		47,200
Columbia Bancorp	1,522		38,157
Columbia Banking Systems Inc.	3,077		115,018
Commerce Group Inc.	8,645		255,373
Commercial Capital Bancorp Inc.	8,750		137,812
Community Bancorp Inc.	701		29,659
Community Bancorp NV (a)	914		28,407
Community Bank System Inc.	6,669		134,514
Community Banks Inc.	5,838		151,788
Community Trust Bancorp Inc.	3,207		112,021
CompuCredit Corp. (a)	4,225		162,409
Consolidated-Tomoka Land Co.	1,490		82,159
Corporate Office Properties Trust	7,224		303,986
Corus Bankshares Inc.	6,768		177,186
Cousins Properties Inc.	7,972		246,574
Crawford & Co.	6,408		46,009
Credit Acceptance Corp. (a)	1,539		41,768


	Shares	Value
Common Stocks (Cont.)

Financial Services (Cont.)
Crescent Real Estate Equities Co.	13,240	$	245,734
CVB Financial Corp.	12,296		192,555
CyberSource Corp. (a)	6,286		73,546
Darwin Professional Underwriters Inc. (a)	571		10,084
Deerfield Triarc Capital Corp.	6,908		89,666
Delphi Financial Group Inc.	8,020		291,607
DiamondRock Hospitality Co.	10,659		157,860
Digital Realty Trust Inc.	3,244		80,094
Dime Community Bancshares	7,452		101,124
Direct General Corp.	4,380		74,110
Dollar Financial Corp. (a)	2,145		38,610
Donegal Group Inc.	1,593		30,920
Doral Financial Corp.	15,534		99,573
Downey Financial Corp.	3,043		206,468
EastGroup Properties Inc.	5,207		243,063
Education Realty Trust Inc.	5,496		91,508
eFunds Corp. (a)	10,332		227,821
Electro Rent Corp. (a)	2,786		44,632
EMC Insurance Group Inc.	661		19,010
Enstar Group Inc. (a)	497		45,818
Enterprise Financial Services Corp.	887		22,574
Entertainment Properties Trust	5,697		245,256
Equity Inns Inc.	9,311		154,190
Equity Lifestyle Properties Inc.	4,674		204,861
Equity One Inc.	7,612		159,091
Euronet Worldwide Inc. (a)	6,561		251,746
Extra Space Storage Inc.	8,716		141,548
Farmers Capital Bank Corp.	2,132		69,823
FBL Financial Group Inc.	2,632		85,277
Federal Agricultural Mortgage Corp. Class C	2,848		78,890
FelCor Lodging Trust Inc.	12,771		277,642
Fidelity Bankshares Inc.	5,895		187,579
Fieldstone Investment Corp.	7,536		69,030
Financial Federal Corp.	6,120		170,197
First Acceptance Corp. (a)	3,296		38,827
First Bancorp (North Carolina)	2,385		50,085
First BanCorp (Puerto Rico)	13,830		128,619
First Busey Corp.	2,920		59,772
First Cash Financial Services Inc. (a)	5,156		101,831
First Charter Corp.	6,755		165,700
First Commonwealth Financial Corp.	15,434		196,012
First Community Bancorp (CA)	3,113		183,916
First Community Bancshares Inc.	2,481		81,848
First Financial Bancorp	8,035		119,802
First Financial Bankshares Inc.	4,383		160,155
First Financial Corp. Indiana	2,948		88,469
First Financial Holdings Inc.	3,007		96,224
First Indiana Corp.	3,395		88,372
First Industrial Realty Trust Inc.	8,142		308,907
First Merchants Corp.	3,557		86,471
First Midwest Bancorp Inc.	8,094		300,126


	Shares	Value
Common Stocks (Cont.)

Financial Services (Cont.)
First Niagara Financial Group Inc.	26,430	$	370,549
First Oak Brook Bancshares Inc.	1,500		55,500
First Place Financial Corp. Ohio	2,670		61,437
First Potomac Realty Trust	4,666		139,000
First Regional Bancorp (a)	447		39,336
First Republic Bank	4,812		220,390
First South Bancorp Inc.	1,226		41,966
First State Bancorporation	2,998		71,292
FirstFed Financial Corp. (a)	3,413		196,828
FirstMerit Corp.	12,843		268,932
FLAG Financial Corp.	1,913		37,208
Flagstar Bancorp Inc.	6,962		111,114
Flushing Financial Corp.	3,870		69,505
FNB Corp. (PA)	11,454		180,630
FNB Corp. (VA)	1,400		51,800
FPIC Insurance Group Inc. (a)	1,833		71,029
Franklin Bank Corp. (a)	3,065		61,882
Franklin Street Properties Corp.	8,611		169,464
Fremont General Corp.	11,744		217,969
Friedman Billings Ramsey Group Inc.	27,314		299,635
Frontier Financial Corp.	5,755		195,612
GAMCO Investors Inc.	1,858		68,300
GB&T Bancshares Inc.	1,552		33,772
Getty Realty Corp.	4,299		122,264
GFI Group Inc. (a)	2,088		112,648
Glacier Bancorp Inc.	7,162		209,632
Gladstone Capital Corp.	2,249		48,106
Gladstone Investment Corp.	2,002		30,030
Glenborough Realty Trust Inc.	6,915		148,949
Glimcher Realty Trust	8,490		210,637
Global Cash Access Inc. (a)	5,791		90,513
GMH Communities Trust	7,821		103,081
Gramercy Capital Corp.	3,080		79,772
Great American Financial Resources Inc.	3,261		68,253
Great Southern Bancorp Inc.	2,520		76,936
Greater Bay Bancorp	10,356		297,735
Greene County Bancshares Inc.	1,057		32,725
Greenhill & Co. Inc.	3,277		199,111
H&E Equipment Services Inc. (a)	1,831		53,923
Hancock Holding Co.	6,036		338,016
Hanmi Financial Corp.	7,950		154,548
Harbor Florida Bancshares Inc.	4,490		166,759
Harleysville Group Inc.	5,091		161,487
Harleysville National Corp.	6,176		130,993
Harris & Harris Group Inc. (a)	4,007		44,237
Healthcare Realty Trust Inc.	8,477		269,992
Heartland Financial USA Inc.	1,908		50,848
Heartland Payment Systems Inc. (a)	2,310		64,403
Heritage Commerce Corp.	1,702		42,193
Heritage Property Investment Trust	6,122		213,780
Hersha Hospitality Trust	6,983		64,872
Highland Hospitality Corp.	10,794		151,980


	Shares	Value
Common Stocks (Cont.)

Financial Services (Cont.)
Highwoods Properties Inc.	10,332	$	373,812
Hilb Rogal & Hobbs Co.	6,715		250,268
Home Federal Bancorp Inc.	299		4,084
Home Properties Inc.	5,826		323,401
HomeBanc Corp.	11,240		89,246
Horace Mann Educators Corp.	9,608		162,856
Horizon Financial Corp.	1,310		35,933
HouseValues Inc. (a)	2,018		13,985
Huron Consulting Group Inc. (a)	3,272		114,814
IBERIABANK Corp.	1,951		112,261
IMPAC Mortgage Holdings Inc.	16,054		179,484
Independence Holding Co.	641		14,365
Independent Bank Corp. (MA)	3,051		99,066
Independent Bank Corp. (MI)	5,100		134,130
Infinity Property & Casualty Corp.	4,650		190,650
Inland Real Estate Corp.	13,234		196,922
Innkeepers USA Trust	6,470		111,802
Integra Bank Corp.	3,758		81,736
Interactive Data Corp. (a)	5,719		114,895
Interchange Financial Services Corp.	3,772		84,870
International Bancshares Corp.	6,577		180,736
International Securities Exchange Inc.	6,991		266,147
Intervest Bancshares Corp. (a)	781		31,630
Investors Bancorp Inc. (a)	6,691		90,663
Investors Real Estate Trust	8,373		75,608
Irwin Financial Corp.	4,272		82,834
ITLA Capital Corp.	1,001		52,633
James River Group Inc. (a)	1,473		36,678
Jer Investors Trust Inc.	4,384		68,171
Kansas City Life Insurance Co.	1,029		43,393
Kearny Financial Corp.	1,424		21,075
Kite Realty Group Trust	5,816		90,671
KKR Financial Corp.	12,237		254,652
KNBT Bancorp Inc.	5,843		96,526
Knight Capital Group Inc. (a)	25,204		383,857
LaBranche & Co. Inc. (a)	11,613		140,633
Lakeland Bancorp Inc.	2,893		45,333
Lakeland Financial Corp.	2,400		58,296
LandAmerica Financial Group Inc.	3,533		228,232
LaSalle Hotel Properties	6,823		315,905
Lexington Corporate Properties Trust	10,684		230,774
Longview Fibre Co.	11,101		211,918
LTC Properties Inc.	4,218		94,272
Luminent Mortgage Capital Inc.	7,770		71,950
Macatawa Bank Corp.	3,048		71,293
MAF Bancorp Inc.	6,288		269,378
Maguire Properties Inc.	8,081		284,209
MainSource Financial Group Inc.	2,256		39,322
MarketAxess Holdings Inc. (a)	4,858		53,487
Marlin Business Services Inc. (a)	1,721		38,826
MB Financial Inc.	4,527		160,075
MBT Financial Corp.	1,670		26,720
MCG Capital Corp.	9,797		155,772


	Shares	Value
Common Stocks (Cont.)

Financial Services (Cont.)
McGrath Rentcorp	4,226	$	117,525
Meadowbrook Insurance Group Inc. (a)	3,931		32,706
Medallion Financial Corp.	2,260		29,290
Medical Properties Trust Inc.	6,197		68,415
Mercantile Bank Corp.	1,681		66,988
MetroCorp Bancshares Inc.	535		15,665
MFA Mortgage Investments Inc.	11,938		82,133
Mid-America Apartment Communities Inc.	4,803		267,767
Mid-State Bancshares	5,523		154,644
Midland Co.	1,858		70,567
Midwest Banc Holdings Inc.	2,559		56,938
Morningstar Inc. (a)	2,824		117,140
MortgageIT Holdings Inc.	5,094		61,434
Move Inc. (a)	27,287		149,533
MVC Capital Inc.	2,871		38,586
Nara Bancorp Inc.	4,152		77,850
NASB Financial Inc.	1,288		43,496
National Financial Partners Corp.	7,565		335,205
National Health Investors Inc.	6,437		173,091
National Interstate Corp.	2,905		78,784
National Penn Bancshares Inc.	8,592		170,637
National Retail Properties Inc.	11,463		228,687
National Western Life Insurance Co. (a)	400		95,860
Nationwide Health Properties Inc.	14,117		317,774
Navigators Group Inc. (a)	2,176		95,352
NBT Bancorp Inc.	7,609		176,757
NCO Group Inc. (a)	6,290		166,308
Netbank Inc.	11,231		74,462
NewAlliance Bancshares Inc.	19,861		284,211
Newcastle Investment Corp.	8,831		223,601
NGP Capital Resources Co.	3,754		54,921
Northern Empire Bancshares (a)	1,275		30,600
NorthStar Realty Finance Corp.	7,798		93,654
Northwest Bancorp Inc.	2,921		77,406
Novastar Financial Inc.	5,951		188,111
NYMAGIC Inc.	541		15,716
OceanFirst Financial Corp.	3,690		81,992
Ocwen Financial Corp. (a)	8,551		108,683
Odyssey Re Holdings Corp.	751		19,789
Ohio Casualty Corp.	13,129		390,325
Old National Bancorp	14,434		288,247
Old Second Bancorp Inc.	3,260		101,060
Omega Financial Corp.	1,800		56,358
Omega Healthcare Investors Inc.	10,993		145,327
Online Resources Corp. (a)	3,802		39,313
Open Solutions Inc. (a)	3,804		101,224
optionsXpress Holdings Inc.	3,564		83,077
Oriental Financial Group Inc.	4,655		59,398
Pacific Capital Bancorp	9,334		290,474
Park National Corp.	2,267		224,002
Parkway Properties Inc.	3,495		159,022
Partners Trust Financial Group Inc.	12,685		144,736


	Shares	Value
Common Stocks (Cont.)

Financial Services (Cont.)
Pennfed Financial Services Inc.	2,872	$	53,563
Pennsylvania Real Estate Investment Trust	7,421		299,586
Penson Worldwide Inc. (a)	872		15,007
Peoples Bancorp Inc.	2,565		76,540
PFF Bancorp Inc.	4,591		152,238
Phoenix Co. Inc.	20,996		295,624
PICO Holdings Inc. (a)	2,922		94,234
Pinnacle Financial Partners Inc. (a)	2,753		83,774
Piper Jaffray Co. (a)	4,530		277,281
Placer Sierra Bancshares	1,406		32,605
PMA Capital Corp. (a)	5,628		57,968
Portfolio Recovery Associates Inc. (a)	3,489		159,447
Post Properties Inc.	7,979		361,768
Potlatch Corp.	6,657		251,302
Preferred Bank	455		24,393
Premierwest Bancorp	4,121		59,466
Presidential Life Corp.	4,502		110,659
PrivateBancorp Inc.	3,769		156,074
ProAssurance Corp. (a)	5,717		275,445
Prosperity Bancshares Inc.	4,104		134,981
Provident Bankshares Corp.	6,897		250,982
Provident Financial Services Inc.	15,513		278,458
Provident New York Bancorp	7,980		105,496
PS Business Parks Inc.	3,930		231,870
QC Holdings, Inc. (a)	878		11,862
R&G Financial Corp. Class B	6,171		53,009
RAIT Investment Trust	5,992		174,966
Ramco-Gershenson Properties Trust	4,337		116,795
Realty Income Corp.	14,274		312,601
Redwood Trust Inc.	3,005		146,734
Renasant Corp.	2,492		100,552
Republic Bancorp Inc.	17,188		212,959
Republic Bancorp Inc. (Kentucky)	1,389		28,613
Republic Property Trust	3,936		38,888
Resource America Inc.	3,464		65,989
Rewards Network Inc. (a)	4,522		36,945
RLI Corp.	4,812		231,842
Rockville Financial Inc. (a)	1,779		26,187
Royal Bancshares of Pennsylvania Inc.	268		6,507
S&T Bancorp Inc.	5,946		197,586
Safety Insurance Group Inc.	2,248		106,892
Sanders Morris Harris Group Inc.	1,455		21,985
Sandy Spring Bancorp Inc.	2,977		107,351
Santander BanCorp	1,863		45,867
Saul Centers Inc.	3,342		136,287
Saxon Capital Inc.	11,301		129,283
SCBT Financial Corp.	1,848		65,881
SCPIE Holdings Inc. (a)	1,535		35,689
Seabright Insurance Holdings (a)	2,677		43,126
Seacoast Banking Corp. of Florida	2,970		79,091
Security Bank Corp. (Georgia)	1,906		42,447
Selective Insurance Group Inc.	5,615		313,710


	Shares	Value
Common Stocks (Cont.)

Financial Services (Cont.)
Senior Housing Properties Trust	11,903	$	213,183
Shore Bancshares Inc.	1,213		32,909
Sierra Bancorp	568		14,893
Signature Bank (a)	5,058		163,778
Simmons First National Corp.	2,940		85,289
Sizeler Property Investors Inc.	1,503		24,138
Smithtown Bancorp Inc.	1,129		27,277
Sound Federal Bancorp Inc.	481		10,000
Southside Bancshares Inc.	1,354		30,221
Southwest Bancorp Inc.	3,288		83,844
Sovran Self Storage Inc.	3,730		189,447
Spirit Finance Corp.	12,545		141,257
State Auto Financial Corp.	2,612		84,994
State National Bancshares Inc.	1,578		60,138
Sterling Bancorp NY	5,023		97,949
Sterling Bancshares Inc. TX	9,115		170,906
Sterling Financial Corp. PA	5,546		121,457
Sterling Financial Corp. WA	7,825		238,741
Stewart Information Services Corp.	3,762		136,598
Stifel Financial Corp. (a)	1,885		66,559
Strategic Hotels & Resorts Inc.	13,661		283,329
Suffolk Bancorp	2,500		81,875
Summit Bancshares Inc.	1,204		25,537
Sun Bancorp Inc. (New Jersey) (a)	1,590		25,822
Sun Communities Inc.	4,293		139,651
Sunstone Hotel Investors Inc.	10,063		292,431
Superior Bancorp (a)	2,313		25,443
Susquehanna Bancshares Inc.	10,021		239,502
SVB Financial Group (a)	6,908		314,038
SWS Group Inc.	4,306		103,861
SY Bancorp Inc.	3,299		90,657
Tanger Factory Outlet Centers Inc.	6,964		225,425
Tarragon Corp.	2,135		29,570
Taylor Capital Group Inc.	733		29,914
Technology Investment Capital Corp.	2,929		42,910
Texas Capital Bancshares Inc. (a)	4,531		105,572
Texas Regional Bancshares Inc.	9,497		360,126
Texas United Bancshares Inc.	1,297		36,511
The Bancorp Inc. (a)	1,793		44,843
The BISYS Group Inc. (a)	21,752		298,002
The Mills Corp.	10,346		276,755
TheStreet.com Inc.	3,182		40,793
Thomas Weisel Partners Group Inc. (a)	688		13,079
TierOne Corp.	5,285		178,474
TNS Inc. (a)	4,121		85,263
Tompkins Trustco Inc.	2,345		100,835
Tower Group Inc.	3,282		99,280
TradeStation Group Inc. (a)	4,498		56,990
Trammell Crow Co. (a)	7,623		268,101
Triad Guaranty Inc. (a)	2,232		109,100
Trico Bancshares	2,400		65,712
Trustco Bank Corp. NY	16,513		181,973
Trustmark Corp.	9,124		282,570


	Shares	Value
Common Stocks (Cont.)

Financial Services (Cont.)
Trustreet Properties Inc.	13,241	$	174,649
U-Store-It Trust	8,554		161,328
UCBH Holdings Inc.	16,801		277,889
UMB Financial Corp.	5,300		176,702
Umpqua Holdings Corp.	11,291		289,614
Union Bankshares Corp.	1,700		73,338
United Bankshares Inc.	7,156		262,124
United Community Banks Inc.	6,409		195,090
United Community Financial Corp.	6,815		81,780
United Fire & Casualty Co.	3,234		97,440
United PanAm Financial Corp. (a)	1,625		49,400
United Security Bancshares	1,100		23,529
Universal American Financial Corp. (a)	5,961		78,387
Universal Health Realty Income Trust	3,690		115,681
Univest Corp. of Pennsylvania	1,452		40,104
Urstadt Biddle Properties Inc.	4,525		73,712
USB Holding Co. Inc.	3,612		81,270
USI Holdings Corp. (a)	7,826		104,947
Vineyard National Bancorp	1,282		34,486
Virginia Commerce Bancorp (a)	2,724		65,104
Virginia Financial Group Inc.	1,600		67,552
W Holding Co. Inc.	17,853		118,722
Waddell & Reed Financial Inc.	14,619		300,567
Washington Real Estate Investment Trust	10,227		375,331
Washington Trust Bancorp Inc.	2,810		77,893
Wauwatosa Holdings Inc. (a)	406		6,926
WesBanco Inc.	4,478		138,773
West Bancorporation Inc.	2,809		52,444
West Coast Bancorp (Oregon)	3,410		100,493
Westamerica Bancorporation	5,719		280,059
Western Alliance Bancorp (a)	1,931		67,160
Westfield Financial Inc.	1,364		38,097
Williams Scotsman International Inc. (a)	5,096		111,297
Willow Grove Bancorp Inc.	1,354		21,542
Wilshire Bancorp Inc.	3,218		57,988
Windrose Medical Properties Trust	4,915		71,759
Winston Hotels Inc.	3,988		48,853
Winthrop Realty Trust	2,970		17,642
Wintrust Financial Corp.	4,953		251,860
World Acceptance Corp. (a)	3,745		133,022
Wright Express Corp. (a)	8,206		235,840
WSFS Financial Corp.	1,900		116,755
Yardville National Bancorp	2,149		76,784
Zenith National Insurance Corp.	6,380		253,095

			57,903,582

Health Care (10.70%)
Abaxis Inc. (a)	3,801		85,028
Abiomed Inc. (a)	4,027		52,230
Acadia Pharmaceuticals Inc. (a)	4,283		36,149
Adams Respiratory Therapeutics Inc. (a)	5,721		255,271


	Shares	Value
Common Stocks (Cont.)

Health Care (Cont.)
Adeza Biomedical Corp. (a)	2,622	$	36,760
Adolor Corp. (a)	9,490		237,345
Advanced Magnetics Inc.	1,484		44,846
ADVENTRX Pharmaceuticals Inc. (a)	11,663		36,972
Affymetrix Inc. (a)	12,357		316,339
Air Methods Corp. (a)	1,867		48,878
Akorn Inc. (a)	8,495		33,810
Albany Molecular Research Inc. (a)	6,083		64,966
Alexion Pharmaceuticals Inc. (a)	6,709		242,329
Align Technology Inc. (a)	11,801		87,209
Alkermes Inc. (a)	19,816		374,919
Alliance Imaging Inc. (a)	5,240		33,536
Allscripts Healthcare Solution Inc. (a)	8,548		150,017
Alnylam Pharmaceuticals Inc. (a)	6,061		91,400
Alpharma Inc.	8,830		212,273
Altus Pharmaceuticals Inc. (a)	1,103		20,350
Amedisys Inc. (a)	2,927		110,933
American Medical Systems Holdings Inc. (a)	13,177		219,397
American Oriental Bioengineering Inc. (a)	8,559		47,331
AMERIGROUP Corp. (a)	9,491		294,601
Amsurg Corp. (a)	6,561		149,263
Anadys Pharmaceuticals Inc. (a)	4,476		13,070
Analogic Corp.	2,699		125,800
Andrx Corp. (a)	13,933		323,106
AngioDynamics Inc. (a)	2,208		59,726
Applera Corp. - Celera Genomics Group (a)	16,826		217,897
Apria Healthcare Group Inc. (a)	9,623		181,875
Arena Pharmaceuticals Inc. (a)	8,416		97,457
Ariad Pharmaceuticals Inc. (a)	11,990		54,075
Array Biopharma Inc. (a)	6,767		58,196
Arrow International Inc.	4,653		152,944
Arthrocare Corp. (a)	5,070		212,991
Aspect Medical Systems Inc. (a)	3,206		55,913
Atherogenics Inc. (a)	9,636		125,750
Auxilium Pharmaceuticals Inc. (a)	4,561		35,485
AVANIR Pharmaceuticals (a)	5,331		36,464
AVI BioPharma Inc. (a)	8,473		31,774
Bentley Pharmaceuticals Inc. (a)	3,806		41,714
Bio-Rad Laboratories Inc. (a)	3,741		242,941
Bio-Reference Labs Inc. (a)	2,005		43,629
BioCryst Pharmaceuticals Inc. (a)	4,109		58,882
Bioenvision Inc. (a)	7,070		37,683
BioMarin Pharmaceutical Inc. (a)	16,794		241,330
Biosite Inc. (a)	3,188		145,564
Bradley Pharmaceuticals Inc. (a)	2,570		26,214
Bruker BioSciences Corp. (a)	7,785		41,728
Cambrex Corp.	6,070		126,438
Candela Corp. (a)	4,179		66,279
Capital Senior Living Corp. (a)	3,478		35,754


	Shares	Value
Common Stocks (Cont.)

Health Care (Cont.)
Caraco Pharmaceutical Laboratories Inc. (a)	2,208	$	20,203
Cell Genesys Inc. (a)	9,941		49,904
Centene Corp. (a)	8,926		210,029
Cepheid Inc. (a)	10,103		98,100
Cerus Corp. (a)	4,814		34,324
Coley Pharmaceutical Group Inc. (a)	2,955		34,130
Combinatorx Inc. (a)	4,917		43,220
Computer Programs & Systems Inc.	1,713		68,451
Conceptus Inc. (a)	4,203		57,329
Conmed Corp. (a)	6,417		132,832
Connetics Corp. (a)	7,481		87,977
Conor Medsystems Inc. (a)	5,196		143,358
Corvel Corp. (a)	1,400		35,000
Cotherix Inc. (a)	3,398		29,257
Cubist Pharmaceuticals Inc. (a)	11,282		284,081
CV Therapeutics Inc. (a)	8,925		124,682
Cyberonics Inc. (a)	4,573		97,496
Cypress Bioscience Inc. (a)	6,588		40,450
Cytokinetics Inc. (a)	4,038		25,399
Datascope Inc.	2,422		74,694
deCODE genetics Inc. (a)	11,966		74,070
Dendreon Corp. (a)	12,545		60,718
DepoMed Inc. (a)	7,614		44,694
Dexcom Inc. (a)	2,986		40,550
Diagnostic Products Corp.	4,563		265,430
Digene Corp. (a)	3,660		141,788
Diversa Corp. (a)	5,480		52,937
DJO Inc. (a)	4,628		170,449
Durect Corp. (a)	10,373		40,144
Eclipsys Corp. (a)	8,774		159,336
Emeritus Corp. (a)	938		17,588
Emisphere Technologies Inc. (a)	4,091		34,896
Encore Medical Corp. (a)	10,151		48,826
Encysive Pharmaceuticals Inc. (a)	12,926		89,577
Enzo Biochem Inc. (a)	6,053		91,279
Enzon Pharmaceuticals Inc. (a)	10,170		76,682
eResearch Technology Inc. (a)	10,352		94,203
ev3 Inc. (a)	2,596		38,447
Exelixis Inc. (a)	15,382		154,589
Five Star Quality Care Inc. (a)	5,825		64,483
Foxhollow Technologies Inc. (a)	3,400		92,888
Genesis HealthCare Corp. (a)	4,288		203,123
Genitope Corp. (a)	4,238		26,784
Genomic Health Inc. (a)	2,004		23,587
Genta Inc. (a)	22,610		37,080
Gentiva Health Services Inc. (a)	5,079		81,416
Geron Corp. (a)	11,664		80,482
Greatbatch Inc. (a)	4,859		114,672
GTx Inc. (a)	1,965		17,882
Haemonetics Corp. (a)	4,558		211,993
Hana Biosciences Inc. (a)	5,636		51,119
Healthcare Services Group Inc.	4,725		98,989


	Shares	Value
Common Stocks (Cont.)

Health Care (Cont.)
HealthExtras Inc. (a)	5,037	$	152,218
Healthspring Inc. (a)	3,005		56,344
HealthTronics Inc. (a)	5,303		40,568
Healthways Inc. (a)	6,873		361,795
Hi-Tech Pharmacal Co. Inc. (a)	1,865		30,903
Hologic Inc. (a)	9,654		476,521
Horizon Health Corp. (a)	2,485		51,887
Human Genome Sciences Inc. (a)	28,454		304,458
Hythiam Inc. (a)	5,362		37,373
I-Flow Corp. (a)	4,094		44,297
ICOS Corp. (a)	12,942		284,595
ICU Medical Inc. (a)	2,460		103,910
Idenix Pharmaceuticals Inc. (a)	3,931		36,951
Illumina Inc. (a)	7,874		233,543
Immucor Inc. (a)	14,787		284,354
Incyte Corp. (a)	17,709		81,461
Indevus Pharmaceuticals Inc. (a)	8,833		48,317
Integra LifeSciences Holdings Corp. (a)	4,654		180,622
InterMune Inc. (a)	7,007		115,265
IntraLase Corp. (a)	3,649		61,084
Invacare Corp.	6,206		154,405
Inverness Medical Innovations Inc. (a)	5,122		144,594
IRIS International Inc. (a)	2,906		38,243
Isis Pharmaceuticals Inc. (a)	18,910		114,405
Kendle International Inc. (a)	2,253		82,753
Kensey Nash Corp. (a)	2,164		63,838
Keryx Biopharmaceuticals Inc. (a)	7,862		111,640
Kindred Healthcare Inc. (a)	5,890		153,140
KV Pharmaceutical Co. (a)	8,226		153,497
Kyphon Inc. (a)	8,291		318,043
Landauer Inc.	2,101		100,638
Laserscope (a)	4,214		129,833
LCA-Vision Inc.	4,082		215,979
Lexicon Genetics Inc. (a)	13,789		60,534
LHC Group Inc. (a)	1,925		38,346
Lifecell Corp. (a)	6,262		193,621
Luminex Corp. (a)	5,719		99,453
Magellan Health Services Inc. (a)	6,453		292,385
MannKind Corp. (a)	4,071		86,753
Martek Biosciences Corp. (a)	6,568		190,144
Matria Healthcare Inc. (a)	4,046		86,665
Maxygen Inc. (a)	6,920		51,762
Medarex Inc. (a)	22,416		215,418
Medcath Corp. (a)	1,553		29,259
Medical Action Industries Inc. (a)	1,444		31,898
Medicines Co. (a)	10,633		207,875
Medicis Pharmaceutical Corp.	10,550		253,200
Mentor Corp.	6,381		277,573
Meridian Bioscience Inc.	3,633		90,643
Merit Medical Systems Inc. (a)	5,181		71,291
Metabasis Therapeutics Inc. (a)	3,883		29,627
MGI Pharma Inc. (a)	14,646		314,889
Molecular Devices Corp. (a)	3,456		105,615


	Shares	Value
Common Stocks (Cont.)

Health Care (Cont.)
Molina Healthcare Inc. (a)	2,139	$	81,389
Momenta Pharmaceuticals Inc. (a)	3,655		46,455
Monogram Biosciences Inc. (a)	22,344		44,241
Myogen Inc. (a)	8,122		235,538
Myriad Genetics Inc. (a)	7,169		181,017
Nabi Biopharmaceuticals (a)	13,137		75,406
Nastech Pharmaceutical Co. Inc. (a)	4,200		66,360
National Healthcare Corp.	1,800		80,190
Natus Medical Inc. (a)	3,016		29,828
NBTY Inc. (a)	10,503		251,127
Nektar Therapeutics (a)	17,066		312,990
Neurocrine Biosciences Inc. (a)	7,498		79,479
Neurometrix Inc. (a)	2,404		73,226
New River Pharmaceuticals Inc. (a)	2,990		85,215
Nighthawk Radiology Holdings Inc. (a)	907		16,272
Northfield Laboratories Inc. (a)	5,228		51,705
Northstar Neuroscience Inc. (a)	1,488		15,445
Novavax Inc. (a)	10,991		55,395
Noven Pharmaceuticals Inc. (a)	5,363		95,998
NPS Pharmaceuticals Inc. (a)	10,809		52,748
NuVasive Inc. (a)	6,185		112,753
Nuvelo Inc. (a)	9,751		162,354
NxStage Medical Inc. (a)	2,164		18,892
Odyssey HealthCare Inc. (a)	8,465		148,730
Omnicell Inc. (a)	4,996		69,045
Onyx Pharmaceuticals Inc. (a)	7,549		127,050
Option Care Inc.	4,105		49,178
OraSure Technologies Inc. (a)	8,248		78,521
OSI Pharmaceuticals Inc. (a)	10,619		350,002
Owens & Minor Inc.	8,074		230,916
Pain Therapeutics Inc. (a)	6,766		56,496
Palomar Medical Technologies Inc. (a)	3,310		151,035
Panacos Pharmaceuticals Inc. (a)	10,049		55,470
Par Pharmaceutical Cos Inc. (a)	6,934		128,002
Parexel International Corp. (a)	6,168		177,947
Penwest Pharmaceutical Co. (a)	4,460		97,362
Per-Se Technologies Inc. (a)	7,156		180,188
Peregrine Pharmaceuticals Inc. (a)	31,652		50,327
Perrigo Co.	14,733		237,201
Pharmion Corp. (a)	5,367		91,400
Phase Forward Inc. (a)	6,245		71,942
PolyMedica Corp.	5,608		201,664
Pozen Inc. (a)	5,400		38,016
PRA International (a)	2,558		56,967
Progenics Pharmaceuticals Inc. (a)	3,953		95,109
PSS World Medical Inc. (a)	15,040		265,456
Psychiatric Solutions Inc. (a)	9,933		284,680
Quality Systems Inc. (a)	3,348		123,273
Quidel Corp. (a)	5,258		49,951
Radiation Therapy Services Inc. (a)	2,067		55,623
Regeneron Pharmaceutical Inc. (a)	8,647		110,855
RehabCare Group Inc. (a)	3,964		68,894
Renovis Inc. (a)	4,512		69,079


	Shares	Value
Common Stocks (Cont.)

Health Care (Cont.)
Res-Care Inc. (a)	3,576	$	71,520
Rigel Pharmaceuticals Inc. (a)	5,136		49,973
Salix Pharmaceuticals Ltd. (a)	8,680		106,764
Sangamo BioSciences Inc. (a)	4,735		27,937
Santarus Inc. (a)	8,421		56,000
Savient Pharmaceuticals Inc. (a)	9,801		51,455
Sciele Pharma Inc. (a)	6,014		139,465
Serologicals Corp. (a)	7,542		237,120
SFBC International Inc. (a)	3,765		57,077
Sirna Therapeutics Inc. (a)	7,118		40,573
Sirona Dental Systems Inc.	3,384		134,074
Solexa Inc. (a)	4,002		34,017
Somaxon Pharmaceuticals Inc. (a)	991		15,470
SonoSite Inc. (a)	3,456		134,922
Spectranetics Corp. (a)	5,734		61,468
Stereotaxis Inc. (a)	4,198		45,296
STERIS Corp.	14,186		324,292
Sun Healthcare Group Inc. (a)	3,750		32,587
Sunrise Senior Living Inc. (a)	7,707		213,099
SuperGen Inc. (a)	12,498		45,368
SurModics Inc. (a)	3,380		122,052
Symbion Inc. (a)	2,855		59,270
Symmetry Medical Inc. (a)	5,614		86,456
Tanox Inc. (a)	5,970		82,565
Telik Inc. (a)	11,478		189,387
ThermoGenesis Corp. (a)	14,764		60,828
Thoratec Corp. (a)	11,086		153,763
Trimeris Inc. (a)	4,008		46,052
TriPath Imaging Inc. (a)	5,666		37,509
United Surgical Partners International Inc. (a)	9,121		274,268
United Therapeutics Corp. (a)	4,641		268,111
Valeant Pharmaceuticals International	17,032		288,181
Ventana Medical Systems Inc. (a)	6,650		313,747
Viasys Healthcare Inc. (a)	6,977		178,611
ViroPharma Inc. (a)	12,283		105,879
Visicu Inc. (a)	1,116		19,697
VistaCare Inc. Class A (a)	2,846		34,437
Vital Images Inc. (a)	2,350		58,045
Vital Signs Inc.	1,233		61,070
West Pharmaceutical Services Inc.	6,569		238,323
Wright Medical Group Inc. (a)	6,279		131,419
Xenoport Inc. (a)	3,699		66,989
Young Innovations Inc.	881		31,038
Zoll Medical Corp. (a)	2,443		80,033
ZymoGenetics Inc. (a)	6,570		124,633

			29,144,115

Materials & Processes (7.99%)
A. Schulman Inc.	7,612		174,239
Aaon Inc.	2,100		53,886
Acuity Brands Inc.	9,260		360,307


	Shares	Value
Common Stocks (Cont.)

Materials & Processes (Cont.)
AEP Industries Inc. (a)	1,038	$	34,690
Affordable Residential Communities (a)	5,591		60,103
AK Steel Holding Corp. (a)	24,860		343,814
Aleris International Inc. (a)	6,358		291,514
Alico Inc.	700		38,577
AM Castle & Co.	2,147		69,241
AMCOL International Corp.	4,867		128,245
American Vanguard Corp.	3,191		49,397
Ameron International Corp.	2,237		149,924
Ampco-Pittsburgh Corp.	718		20,571
AMREP Corp.	461		25,041
Apogee Enterprises Inc.	5,880		86,436
AptarGroup Inc.	5,655		280,544
Arch Chemicals Inc.	5,202		187,532
Balchem Corp.	1,903		42,817
Barnes Group Inc.	6,614		131,949
Beacon Roofing Supply Inc. (a)	7,693		169,323
Bluegreen Corp. (a)	3,876		44,419
BlueLinx Holdings Inc.	602		7,844
Bowater Inc.	11,270		256,392
Brookfield Homes Corp.	3,387		111,602
Brush Engineered Materials Inc. (a)	4,752		99,079
Buckeye Technologies Inc. (a)	6,119		46,749
Builders Firstsource Inc. (a)	1,243		25,307
Building Materials Holding Corp.	5,984		166,774
Cabot Microelectronics Corp. (a)	5,235		158,673
Calgon Carbon Corp.	6,895		41,991
California Coastal Communities Inc. (a)	1,285		41,120
Caraustar Industries Inc. (a)	6,462		58,158
Century Aluminum Co. (a)	4,516		161,176
Ceradyne Inc. (a)	5,257		260,169
CF Industries Holdings Inc.	9,024		128,682
Chaparral Steel Co. (a)	4,711		339,286
Chesapeake Corp.	4,435		72,778
China BAK Battery Inc. (a)	5,353		45,554
CIRCOR International Inc.	3,578		109,093
Clarcor Inc.	10,549		314,255
Clean Harbors Inc. (a)	3,002		121,011
Cleveland-Cliffs Inc.	4,440		352,048
Coeur d’Alene Mines Corp. (a)	52,371		251,904
Comfort Systems USA Inc.	6,792		97,058
Compass Minerals International Inc.	5,369		133,957
Delta & Pine Land Co.	8,182		240,551
Deltic Timber Corp.	2,486		140,136
Drew Industries Inc. (a)	3,792		122,861
Dycom Industries Inc. (a)	10,264		218,521
Dynamic Materials Corp.	1,993		67,224
ElkCorp	4,649		129,103
EMCOR Group Inc. (a)	6,624		322,390
Encore Wire Corp. (a)	4,350		156,339
Energy Conversion Devices Inc. (a)	7,276		265,065
EnerSys (a)	7,731		161,578
ENGlobal Corp. (a)	2,647		20,620


	Shares	Value
Common Stocks (Cont.)

Materials & Processes (Cont.)
Ferro Corp.	9,029	$	144,103
Genlyte Group Inc. (a)	5,224		378,374
Georgia Gulf Corp.	6,485		162,255
Gibraltar Industries Inc.	5,149		149,321
Glatfelter	6,608		104,869
Gold Kist Inc. (a)	9,698		129,662
Goodman Global Inc. (a)	3,372		51,187
GrafTech International Ltd. (a)	22,152		128,482
Granite Construction Inc.	7,157		323,997
Graphic Packaging Corp. (a)	13,034		49,399
Greif Inc.	3,281		245,944
Griffon Corp. (a)	6,174		161,141
HB Fuller Co.	6,246		272,138
Hecla Mining Co. (a)	26,746		140,416
Hercules Inc. (a)	24,049		366,988
Hexcel Corp. (a)	16,623		261,147
Infrasource Services Inc. (a)	4,244		77,283
Innospec Inc.	2,646		67,261
Insituform Technologies Inc. (a)	6,255		143,177
Insteel Industries Inc.	2,447		59,217
Interline Brands Inc. (a)	4,720		110,354
Jacuzzi Brands Inc. (a)	16,491		145,121
Kaydon Corp.	5,748		214,458
Koppers Holdings Inc.	1,691		33,803
Kronos Worldwide Inc.	1,333		38,990
L.B. Foster Co. (a)	1,318		31,988
Ladish Co. Inc. (a)	2,433		91,164
Lamson & Sessions Co. (a)	2,124		60,237
Layne Christensen Co. (a)	1,833		51,966
LSI Industries Inc.	3,668		62,319
MacDermid Inc.	6,355		183,024
Maverick Tube Corp. (a)	8,420		532,060
Medis Technologies Ltd. (a)	3,696		74,955
Mercer International Inc.-SBI (a)	3,492		30,311
Metal Management Inc.	4,724		144,649
MGP Ingredients Inc.	1,471		34,157
Minerals Technologies Inc.	3,980		206,960
Mueller Industries Inc.	8,098		267,477
Mueller Water Products Inc. (a)	5,026		87,503
Myers Industries Inc.	5,005		86,036
NCI Building Systems Inc. (a)	4,496		239,052
Neenah Paper Inc.	3,551		108,128
Newkirk Realty Trust Inc.	3,993		69,318
NewMarket Corp.	3,704		181,718
NL Industries Inc.	2,829		30,412
NN Inc.	2,400		29,640
NS Group Inc. (a)	4,648		256,012
Nuco2 Inc. (a)	2,514		60,437
Olin Corp.	14,669		263,015
Olympic Steel Inc.	1,095		38,752
OM Group Inc. (a)	6,046		186,519
Omnova Solutions Inc. (a)	6,033		34,267
Oregon Steel Mills Inc. (a)	7,746		392,412


	Shares	Value
Common Stocks (Cont.)

Materials & Processes (Cont.)
Perini Corp. (a)	3,682	$	82,845
Pioneer Companies Inc. (a)	2,214		60,398
PolyOne Corp. (a)	20,012		175,705
PW Eagle Inc.	1,776		53,706
Quanex Corp.	7,483		322,293
Raven Industries Inc.	2,710		85,365
RBC Bearings Inc. (a)	3,394		77,044
Resource Capital Corp.	1,063		13,681
Rock-Tenn Co.	6,469		103,181
Rockwood Holdings Inc. (a)	5,211		119,905
Royal Gold Inc.	3,579		99,568
RTI International Metals Inc. (a)	5,039		281,378
Ryerson Inc.	5,256		141,912
Schnitzer Steel Industries Inc.	4,389		155,722
Schweitzer-Mauduit International Inc.	3,607		78,092
Senomyx Inc. (a)	5,405		77,994
Shiloh Industries Inc. (a)	164		2,467
Silgan Holdings Inc.	4,992		184,754
Simpson Manufacturing Co. Inc.	7,527		271,348
Spartech Corp.	6,088		137,589
Steel Technologies Inc.	2,058		40,007
Stepan Co.	1,373		43,359
Sterling Construction Co. Inc. (a)	1,488		41,069
Stillwater Mining Co. (a)	10,526		133,470
Superior Essex Inc. (a)	2,805		83,954
Symyx Technologies Inc. (a)	6,713		162,119
Tejon Ranch Co. (a)	1,924		79,192
Terra Industries Inc. (a)	15,493		98,690
Texas Industries Inc.	4,711		250,154
The Andersons Inc.	2,194		91,292
Tredegar Corp.	7,219		114,205
Trex Co. Inc. (a)	2,368		61,307
Tronox Inc. Class B	8,545		112,538
UAP Holding Corp.	8,855		193,128
Universal Forest Products Inc.	3,617		226,894
US Concrete Inc. (a)	5,091		56,256
USEC Inc.	18,311		216,985
Valmont Industries Inc.	3,664		170,339
Washington Group International Inc. (a)	5,544		295,717
Watsco Inc.	4,839		289,469
Wausau Paper Corp.	9,963		124,039
Wheeling-Pittsburgh Corp. (a)	2,010		39,979
Worthington Industries Inc.	12,539		262,692
WR Grace & Co. (a)	14,063		164,537
Xerium Technologies Inc.	2,467		23,239
Zoltek Companies Inc. (a)	2,581		77,146

			21,757,915

Oil & Gas (4.52%)
Allis-Chalmers Energy Inc. (a)	2,537		34,478
Alon USA Energy Inc.	2,300		72,381
Alpha Natural Resources Inc. (a)	8,058		158,098
Arena Resources Inc. (a)	2,218		76,055


	Shares	Value
Common Stocks (Cont.)

Oil & Gas (Cont.)
ATP Oil & Gas Corp. (a)	3,871	$	162,311
Atwood Oceanics Inc. (a)	5,500		272,800
Aurora Oil & Gas Corp. (a)	14,193		56,772
Basic Energy Services Inc. (a)	2,008		61,385
Berry Petroleum Co.	7,678		254,526
Bill Barrett Corp. (a)	5,172		153,143
Bois d’Arc Energy Inc. (a)	2,678		44,107
Brigham Exploration Co. (a)	7,918		62,631
Bronco Drilling Co. Inc. (a)	2,280		47,629
Callon Petroleum Co. (a)	3,540		68,464
CARBO Ceramics Inc.	3,864		189,838
Carrizo Oil & Gas Inc. (a)	3,942		123,424
Clayton Williams Energy Inc. (a)	1,425		49,220
Complete Production Services Inc. (a)	4,603		108,815
Comstock Resources Inc. (a)	8,139		243,031
Dawson Geophysical Co. (a)	1,330		40,924
Delek US Holdings Inc. (a)	1,880		28,576
Delta Petroleum Corp. (a)	10,089		172,825
Dril-Quip Inc. (a)	2,188		180,379
Edge Petroleum Corp. (a)	3,371		67,353
Encore Acquisition Co. (a)	10,157		272,512
Energy Partners Ltd. (a)	6,810		129,049
Evergreen Solar Inc. (a)	12,418		161,186
EXCO Resources Inc. (a)	9,442		107,639
Exploration Co. of Delaware (a)	5,610		59,803
FuelCell Energy Inc. (a)	9,957		95,388
Gasco Energy Inc. (a)	14,482		64,445
GeoGlobal Resources Inc. (a)	6,013		29,404
Giant Industries Inc. (a)	2,789		185,608
GMX Resources Inc. (a)	1,560		48,235
Goodrich Petroleum Corp. (a)	2,280		64,729
Grey Wolf Inc. (a)	40,399		311,072
Gulf Island Fabrication Inc.	1,700		34,068
Hanover Compressor Co. (a)	18,808		353,214
Harvest Natural Resources Inc. (a)	8,515		115,293
Hercules Offshore Inc. (a)	3,616		126,560
Hornbeck Offshore Services Inc. (a)	4,339		154,121
Houston Exploration Co. (a)	5,514		337,402
Hydril (a)	3,939		309,290
Input/Output Inc. (a)	14,134		133,566
James River Coal Co. (a)	2,660		70,463
KCS Energy Inc. (a)	11,190		332,343
Lone Star Technologies Inc. (a)	6,202		335,032
Lufkin Industries Inc.	2,820		167,593
Mariner Energy Inc. (a)	13,685		251,393
Markwest Hydrocarbon Inc.	1,493		36,952
Matrix Service Co. (a)	3,248		37,157
McMoRan Exploration Co. (a)	4,522		79,587
Meridian Resource Corp. (a)	14,742		51,597
Metretek Technologies Inc. (a)	3,045		52,313
NATCO Group Inc. (a)	2,643		106,249
Newpark Resources Inc. (a)	17,316		106,493
Oil States International Inc. (a)	9,021		309,240


	Shares	Value
Common Stocks (Cont.)

Oil & Gas (Cont.)
Pacific Ethanol Inc. (a)	4,042	$	93,451
Parallel Petroleum Corp. (a)	6,790		167,781
Parker Drilling Co. (a)	19,301		138,581
Penn Virginia Corp.	4,279		299,017
PetroHawk Energy Corp. (a)	10,944		137,894
Petroleum Development Corp. (a)	3,588		135,268
Petroquest Energy Inc. (a)	7,631		93,709
Pioneer Drilling Co. (a)	7,314		112,928
Plug Power Inc. (a)	11,074		51,716
PrimeEnergy Corp. (a)	212		16,313
Quest Resource Corp. (a)	4,250		57,587
Rosetta Resources Inc. (a)	9,323		154,948
RPC Inc.	7,147		173,529
Stone Energy Corp. (a)	4,962		230,981
SulphCo Inc. (a)	6,761		48,409
Superior Well Services Inc. (a)	1,810		45,069
Swift Energy Co. (a)	6,110		262,302
Syntroleum Corp. (a)	7,549		45,822
Tetra Tech Inc. (a)	12,592		223,382
Toreador Resources Corp. (a)	2,859		80,424
Transmeridian Exploration Inc. (a)	13,603		77,537
TransMontaigne Inc. (a)	8,243		92,404
Trico Marine Services Inc. (a)	2,055		69,870
Union Drilling Inc. (a)	2,169		32,231
Universal Compression Holdings Inc. (a)	5,379		338,716
VAALCO Energy Inc. (a)	11,183		109,146
Veritas DGC Inc. (a)	7,216		372,201
W-H Energy Services Inc. (a)	5,801		294,865
Warren Resources Inc. (a)	10,268		147,448
Warrior Energy Service Corp. (a)	1,916		46,616
Western Refining Inc.	5,127		110,641
Westmoreland Coal Co. (a)	294		6,974
Whiting Petroleum Corp. (a)	6,797		284,590

			12,310,511

Technology (13.22%)
@Road Inc. (a)	10,738		59,274
3Com Corp. (a)	73,090		374,221
3D Systems Corp. (a)	2,089		41,968
Acacia Research - Acacia Technologies (a)	5,115		71,917
Access Integrated Technologies Inc. (a)	2,686		26,350
Actel Corp. (a)	6,191		88,841
Actuate Corp. (a)	9,210		37,208
Adaptec Inc. (a)	24,212		105,080
Adtran Inc.	12,338		276,741
Advanced Analogic Technologies Inc. (a)	5,911		61,947
Advanced Digital Information Corp. (a)	14,724		173,301
Aeroflex Inc. (a)	14,642		170,872
Agile Software Corp. (a)	11,074		70,209
Agilysys Inc.	6,388		114,984
Altiris Inc. (a)	4,945		89,208


	Shares	Value
Common Stocks (Cont.)

Technology (Cont.)
American Reprographics Co. (a)	4,965	$	179,981
American Science & Engineering Inc. (a)	1,669		96,668
AMIS Holdings Inc. (a)	7,485		74,850
Amkor Technology Inc. (a)	18,833		178,160
ANADIGICS Inc. (a)	8,060		54,163
Anaren Inc. (a)	5,020		102,860
Anixter International Inc. (a)	5,978		283,716
Ansoft Corp. (a)	2,694		55,173
Ansys Inc. (a)	6,835		326,850
Applied Micro Circuits Corp. (a)	50,172		136,970
Ariba Inc. (a)	14,630		120,405
Art Technology Group Inc. (a)	19,787		58,965
Aspen Technology Inc. (a)	9,344		122,593
Atheros Communications (a)	9,555		181,163
Audible Inc. (a)	4,806		43,687
Avanex Corp. (a)	29,405		51,753
Avid Technology Inc. (a)	7,685		256,141
Avocent Corp. (a)	10,215		268,144
BearingPoint Inc. (a)	34,809		291,351
Bel Fuse Inc.	2,350		77,103
Benchmark Electronics Inc. (a)	11,904		287,124
Black Box Corp.	3,630		139,138
Blackbaud Inc.	7,709		174,994
Blackboard Inc. (a)	5,058		146,480
Blue Coat Systems Inc. (a)	2,429		40,953
Bookham Inc. (a)	9,696		32,579
Borland Software Corp. (a)	17,494		92,368
Bottomline Technologies Inc. (a)	2,770		22,548
Broadwing Corp. (a)	14,027		145,179
Brocade Communications Systems Inc. (a)	58,390		358,515
CACI International Inc. (a)	5,531		322,623
Carrier Access Corp.	3,425		28,325
Cbeyond Communications Inc. (a)	2,891		63,053
Checkpoint Systems Inc. (a)	8,406		186,697
Chordiant Software Inc. (a)	13,591		41,181
Ciber Inc. (a)	11,916		78,526
Cirrus Logic Inc. (a)	18,121		147,505
Click Commerce Inc. (a)	1,605		31,667
Cogent Communications Group Inc. (a)	3,291		30,837
Coherent Inc. (a)	6,529		220,223
CommScope Inc. (a)	11,230		352,847
COMSYS IT Partners Inc. (a)	2,727		41,232
Comtech Group Inc. (a)	2,650		29,494
Comtech Telecommunications Corp. (a)	4,655		136,252
Concur Technologies Inc. (a)	5,835		90,267
Conexant Systems Inc. (a)	100,366		250,915
Convera Corp. (a)	4,557		30,623
Covansys Corp. (a)	5,602		70,417
CPI International Inc. (a)	747		10,831
CSG Systems International Inc. (a)	10,931		270,433
Cubic Corp.	3,573		70,067
Daktronics Inc.	7,319		211,299


	Shares	Value
Common Stocks (Cont.)

Technology (Cont.)
DealerTrack Holdings Inc. (a)	1,495	$	33,054
Dendrite International Inc. (a)	8,069		74,558
Digi International Inc. (a)	4,320		54,130
Digital Insight Corp. (a)	7,663		262,764
Digital River Inc. (a)	7,425		299,896
Digitas Inc. (a)	16,881		196,157
Diodes Inc. (a)	3,417		141,600
Ditech Networks Inc. (a)	6,645		57,944
DSP Group Inc. (a)	6,214		154,418
Eagle Test Systems Inc. (a)	579		8,118
Echelon Corp. (a)	6,800		50,932
eCollege.com Inc. (a)	3,810		80,543
EDO Corp.	3,549		86,383
Electronics for Imaging Inc. (a)	11,601		242,229
Emageon Inc. (a)	3,629		52,947
EMS Technologies Inc. (a)	2,328		41,834
Emulex Corp. (a)	17,312		281,666
Epicor Software Corp. (a)	10,426		109,786
EPIQ Systems Inc. (a)	2,947		49,038
Equinix Inc. (a)	5,408		296,683
eSpeed Inc. (a)	5,972		49,747
Essex Corp. (a)	3,550		65,391
Exar Corp. (a)	9,648		128,029
Excel Technology Inc. (a)	2,261		67,649
Extreme Networks Inc. (a)	23,871		99,303
FalconStor Software Inc. (a)	7,660		53,390
Fargo Electronics Inc. (a)	2,223		56,442
FileNet Corp. (a)	8,575		230,925
Finisar Corp. (a)	46,968		153,585
Flir Systems Inc. (a)	12,744		291,838
Formfactor Inc. (a)	8,507		379,667
Foundry Networks Inc. (a)	26,980		287,607
Gartner Inc. (a)	13,623		193,447
Gateway Inc. (a)	49,425		93,907
Genesis Microchip Inc. (a)	7,324		84,665
Gerber Scientific Inc. (a)	3,434		44,676
Harmonic Inc. (a)	16,117		72,204
Herley Industries Inc. (a)	2,500		28,025
Hittite Microwave Corp. (a)	1,946		70,367
Hutchinson Technology Inc. (a)	5,357		115,872
Hypercom Corp. (a)	10,454		97,745
Hyperion Solutions Corp. (a)	10,579		291,980
I.D. Systems Inc. (a)	2,116		37,517
i2 Technologies Inc. (a)	2,046		25,923
Identix Inc.	19,280		134,767
iGate Corp. (a)	4,500		28,755
IHS Inc. (a)	3,967		117,542
II-VI Inc. (a)	5,190		94,977
Imation Corp.	6,231		255,783
Infocrossing Inc. (a)	4,006		46,269
Informatica Corp. (a)	19,047		250,658
Innovative Solutions & Support Inc. (a)	2,682		37,709
InPhonic Inc. (a)	3,382		21,307


	Shares	Value
Common Stocks (Cont.)

Technology (Cont.)
Integral Systems Inc.	1,566	$	42,016
Inter-Tel Inc.	4,842		101,972
Intergraph Corp. (a)	5,508		173,447
Intermagnetics General Corp. (a)	9,559		257,902
Intermec Inc. (a)	10,346		237,337
International DisplayWorks Inc. (a)	7,375		38,350
Internet Capital Group Inc. (a)	10,730		96,570
Internet Security Systems Inc. (a)	8,352		157,435
InterVoice Inc. (a)	8,226		58,569
Interwoven Inc. (a)	9,466		81,218
Ionatron Inc. (a)	4,377		27,794
iRobot Corp. (a)	1,851		46,053
Ixia (a)	7,411		66,699
IXYS Corp. (a)	5,453		52,349
j2 Global Communications Inc. (a)	9,324		291,095
Jack Henry & Associates Inc.	14,067		276,557
JDA Software Group Inc. (a)	6,519		91,462
Jupitermedia Corp. (a)	3,630		47,190
Kanbay International Inc. (a)	5,659		82,282
Keane Inc. (a)	10,923		136,537
Kemet Corp. (a)	19,185		176,886
Komag Inc. (a)	6,237		288,025
Kopin Corp. (a)	14,780		53,356
Kronos Inc. (a)	6,774		245,287
Lattice Semiconductor Corp. (a)	26,509		163,826
Lawson Software Inc. (a)	21,273		142,529
Lightbridge Inc. (a)	4,743		61,422
Lionbridge Technologies Inc. (a)	10,410		57,567
Loral Space & Communications Inc. (a)	1,217		34,514
Macrovision Corp. (a)	10,561		227,273
Magma Design Automation Inc. (a)	6,186		45,467
Manhattan Associates Inc. (a)	6,403		129,917
ManTech International Corp. (a)	3,812		117,638
Mapinfo Corp. (a)	4,393		57,329
Maxwell Technologies Inc. (a)	2,431		47,721
McDATA Corp. (a)	26,983		110,091
Mentor Graphics Corp. (a)	17,540		227,669
Mercury Computer Systems Inc. (a)	4,775		73,487
Merge Technologies Inc. (a)	3,394		41,780
Methode Electronics Inc.	7,655		80,454
Micrel Inc. (a)	14,305		143,193
Micros Systems Inc. (a)	7,882		344,286
Microsemi Corp. (a)	12,873		313,844
MicroStrategy Inc. (a)	2,754		268,570
Microtune Inc. (a)	10,783		67,502
Mindspeed Technologies Inc. (a)	17,701		42,659
MIPS Technologies Inc. (a)	8,453		51,310
Mobility Electronics Inc. (a)	5,610		40,729
Monolithic Power Systems Inc. (a)	3,637		43,026
MoSys Inc. (a)	3,224		25,212
MRO Software Inc. (a)	4,523		90,777
MRV Communications Inc. (a)	25,245		78,512
MTS Systems Corp.	4,421		174,674


	Shares	Value
Common Stocks (Cont.)

Technology (Cont.)
Multi-Fineline Electronix Inc. (a)	1,433	$	47,561
Neoware Inc. (a)	3,398		41,761
Ness Technologies Inc. (a)	4,064		43,688
Netgear Inc. (a)	6,388		138,300
NetIQ Corp. (a)	12,539		152,850
Netlogic Microsystems Inc. (a)	2,815		90,784
NetScout Systems Inc. (a)	4,042		36,055
Newport Corp. (a)	9,538		153,753
Nextest Systems Corp. (a)	582		9,434
Novatel Wireless Inc. (a)	5,192		53,893
Nuance Communications Inc. (a)	23,701		238,432
Omnivision Technologies Inc. (a)	12,302		259,818
ON Semiconductor Corp. (a)	27,697		162,858
Openwave Systems Inc. (a)	17,285		199,469
Oplink Communications Inc. (a)	4,561		83,512
OPNET Technologies Inc. (a)	1,828		23,691
Opsware Inc. (a)	14,824		122,150
Optical Communication Products Inc. (a)	5,452		10,958
OSI Systems Inc. (a)	3,260		57,930
Packeteer Inc. (a)	7,597		86,150
Palm Inc. (a)	17,370		279,657
Parametric Technology Corp. (a)	23,798		302,473
Park Electrochemical Corp.	4,627		119,145
PDF Solutions Inc. (a)	3,353		41,611
Pegasus Wireless Corp. (a)	10,466		93,566
Pegasystems Inc.	1,660		10,657
Pericom Semiconductor Corp. (a)	4,853		40,280
Perot Systems Corp. (a)	16,874		244,335
Plexus Corp. (a)	9,724		332,658
PLX Technology Inc. (a)	4,846		59,218
Polycom Inc. (a)	18,526		406,090
PortalPlayer Inc. (a)	3,587		35,188
Power Integrations Inc. (a)	6,626		115,822
Progress Software Corp. (a)	7,348		172,017
QAD Inc.	2,688		20,832
Quantum Corp. (a)	35,709		93,558
Quest Software Inc. (a)	11,716		164,493
Rackable Systems Inc. (a)	5,237		206,809
Radiant Systems Inc. (a)	4,062		42,935
Radisys Corp. (a)	4,488		98,556
RealNetworks Inc. (a)	24,155		258,458
Redback Networks Inc. (a)	10,294		188,792
RF Micro Devices Inc. (a)	41,239		246,197
RightNow Technologies Inc. (a)	2,770		46,204
Rogers Corp. (a)	3,490		196,627
RSA Security Inc. (a)	15,250		414,647
S1 Corp. (a)	17,187		82,498
Safeguard Scientifics Inc. (a)	20,360		43,978
SafeNet Inc. (a)	5,455		96,663
Sapient Corp. (a)	18,229		96,614
SAVVIS Inc. (a)	1,549		45,866
Scansource Inc. (a)	5,632		165,130
Secure Computing Corp. (a)	9,933		85,424


	Shares	Value
Common Stocks (Cont.)

Technology (Cont.)
Semtech Corp. (a)	13,851	$	200,147
SI International Inc. (a)	2,208		67,697
Sigma Designs Inc. (a)	3,615		34,089
Silicon Image Inc. (a)	17,024		183,519
Silicon Storage Technology Inc. (a)	19,095		77,526
Sirenza Microdevices Inc. (a)	4,248		51,571
SiRF Technology Holdings Inc. (a)	9,599		309,280
Skyworks Solutions Inc. (a)	33,221		183,048
Smith Micro Software Inc. (a)	3,737		59,867
SonicWALL Inc. (a)	12,457		111,988
Sonus Networks Inc. (a)	48,119		238,189
SPSS Inc. (a)	3,328		106,962
SRA International Inc. (a)	6,631		176,583
SSA Global Technologies Inc. (a)	1,090		21,124
Staktek Holdings Inc. (a)	660		3,208
Standard Microsystems Corp. (a)	4,526		98,803
Stellent Inc.	4,586		43,796
Stratasys Inc. (a)	2,083		61,365
Stratex Networks Inc. (a)	17,302		58,654
SunPower Corp. Class A (a)	1,691		47,382
Supertex Inc. (a)	2,250		89,865
Sybase Inc. (a)	15,909		308,635
Sycamore Networks Inc. (a)	38,016		154,345
Sykes Enterprises Inc. (a)	5,288		85,454
Synaptics Inc. (a)	5,239		112,115
Syniverse Holdings Inc. (a)	3,775		55,492
SYNNEX Corp. (a)	1,565		29,672
Syntel Inc.	1,389		28,419
Taleo Corp. (a)	1,861		21,941
Talx Corp.	6,649		145,414
Tekelec (a)	12,096		149,386
Terremark Worldwide Inc. (a)	8,681		31,252
Tessera Technologies Inc. (a)	8,978		246,895
TIBCO Software Inc. (a)	40,757		287,337
Transaction Systems Architects Inc. (a)	8,146		339,607
Transmeta Corp. (a)	33,422		54,812
TranSwitch Corp. (a)	20,287		42,806
Trident Microsystems Inc. (a)	10,838		205,705
Triquint Semiconductor Inc. (a)	30,310		135,183
TriZetto Group Inc. (a)	7,942		117,462
TTM Technologies Inc. (a)	9,371		135,598
Tyler Technologies Inc. (a)	9,374		104,989
Ulticom Inc. (a)	2,460		25,756
Ultimate Software Group Inc. (a)	4,287		82,139
Universal Display Corp. (a)	4,950		65,884
UTStarcom Inc. (a)	21,578		168,093
VA Software Corp. (a)	10,858		42,129
Varian Inc. (a)	6,743		279,902
VASCO Data Security International Inc. (a)	5,715		47,720
Verint Systems Inc. (a)	2,781		81,177
ViaSat Inc. (a)	5,029		129,145
Vignette Corp. (a)	7,075		103,153


	Shares	Value
Common Stocks (Cont.)

Technology (Cont.)
Virage Logic Corp. (a)	1,803	$	16,930
Volterra Semiconductor Corp. (a)	3,764		57,439
Vonage Holdings Corp. (a)	4,808		41,301
WebEx Communications Inc. (a)	7,802		277,283
webMethods Inc. (a)	11,142		109,972
Websense Inc. (a)	9,956		204,496
Wind River Systems Inc. (a)	15,279		135,983
Witness Systems Inc. (a)	5,947		119,951
Zhone Technologies Inc. (a)	17,174		35,035
Zoran Corp. (a)	9,600		233,664

			36,024,102

Telecommunications (1.05%)
Alaska Communications Systems Group Inc.	8,151		103,110
Atlantic Tele-Network Inc.	750		15,623
Centennial Communications Corp. (a)	4,340		22,568
Cincinnati Bell Inc. (a)	54,384		222,974
Commonwealth Telephone Enterprises Inc.	4,733		156,946
Consolidated Communications Holdings Inc.	4,067		67,634
CT Communications Inc.	3,973		90,863
Dobson Communications Corp. (a)	28,008		216,502
Eschelon Telecom Inc. (a)	1,549		23,963
FairPoint Communications Inc.	6,126		88,214
First Avenue Networks Inc. (a)	10,353		112,641
General Communication Inc. Class A (a)	9,349		115,180
Golden Telecom Inc.	4,180		105,963
IDT Corp. Class B (a)	10,343		142,630
Iowa Telecommunications Service Inc.	5,810		109,925
iPCS Inc. (a)	3,076		148,571
North Pittsburgh Systems Inc.	3,186		87,806
NTELOS Holdings Corp. (a)	3,010		43,494
Premiere Global Services Inc. (a)	13,363		100,891
Price Communications Corp. (a)	10,310		174,755
RCN Corp. (a)	4,850		120,910
Shenandoah Telecommunications Co.	1,600		75,200
SureWest Communications	3,514		67,890
Talk America Holdings Inc. (a)	6,624		41,003
Time Warner Telecom Inc. (a)	14,267		211,865
USA Mobility Inc. (a)	5,606		93,060
Valor Communications Group Inc.	7,778		89,058

			2,849,239

Utilities & Energy (2.88%)
Allete Inc.	4,879		231,021
American States Water Co.	3,874		138,108
Aquila Inc. (a)	68,566		288,663
Atlas America Inc. (a)	3,726		166,962
Avista Corp.	11,156		254,691
Black Hills Corp.	6,753		231,830


	Shares	Value
Common Stocks (Cont.)

Utilities & Energy (Cont.)
California Water Service Group	4,151	$	148,357
Cascade Natural Gas Corp.	2,786		58,757
CH Energy Group Inc.	3,726		178,848
Cleco Corp.	11,167		259,633
Crosstex Energy Inc.	1,810		172,095
Duquesne Light Holdings Inc.	16,562		272,279
El Paso Electric Co. (a)	10,936		220,470
Empire District Electric Co.	6,968		143,192
EnergySouth Inc.	1,800		56,214
Headwaters Inc. (a)	8,604		219,918
Idacorp Inc.	8,550		293,179
International Coal Group Inc. (a)	18,537		133,281
ITC Holdings Corp.	2,462		65,440
KFX Inc. (a)	12,850		196,348
Laclede Group Inc.	4,929		169,360
MGE Energy Inc.	3,939		122,700
New Jersey Resources Corp.	4,914		229,877
Nicor Inc.	6,739		279,669
Northwest Natural Gas Co.	5,152		190,779
NorthWestern Corp.	6,253		214,791
Ormat Technologies Inc.	1,507		57,492
Otter Tail Corp.	6,139		167,779
Peoples Energy Corp.	6,294		226,018
Piedmont Natural Gas Co. Inc.	12,901		313,494
Pike Electric Corp. (a)	2,124		40,908
PNM Resources Inc.	11,662		291,084
Rentech Inc. (a)	26,541		123,416
SJW Corp.	3,882		98,797
South Jersey Industries Inc.	7,100		194,469
Southwest Gas Corp.	7,714		241,757
Southwest Water Co.	3,892		46,587
Ubiquitel Inc. (a)	14,748		152,494
UIL Holdings Corp.	3,270		184,068
Unisource Energy Corp.	7,134		222,224
Westar Energy Inc.	14,586		307,035
WGL Holdings Inc.	8,453		244,714

			7,848,798

Total Common Stocks
(cost $210,433,070)			250,403,581


	Principal amount		Value
Short-term Investments (6.82%)
U.S. Treasury Bills, 4.658%, 09/21/2006 (c)	$	18,787,000	$	18,587,294

Total Short-term Investments
(cost $18,581,984)				18,587,294

TOTAL INVESTMENTS (98.74%)
(cost $229,015,054)				268,990,875
OTHER ASSETS, NET OF LIABILITIES (1.26%)				3,440,142

NET ASSETS (100.00%)			$	272,431,017

(a)	Non-income producing security.

(b)	Security valued at fair value.

(c)	At June 30, 2006, this security has been pledged to cover, in whole or in part, initial margin requirements for open futures contracts.


	Shares	Value
Common Stocks (98.58%)

Australia (5.21%)
ABC Learning Centres Ltd.	8,043	$	38,251
Alinta Ltd.	6,531		50,619
Alumina Ltd.	33,907		170,075
Amcor Ltd.	25,724		127,692
AMP Ltd.	52,913		358,988
Ansell Ltd.	5,217		37,488
APN News & Media Ltd.	7,974		30,101
Aristocrat Leisure Ltd.	9,841		94,189
Australia & New Zealand Banking Group Ltd.	51,768		1,022,885
Australian Gas & Light Co.	12,931		168,254
Australian Stock Exchange	2,887		69,895
Axa Asia Pacific Holdings	24,556		114,412
Babcock & Brown Ltd.	4,546		73,272
BHP Billiton Ltd.	98,883		2,130,919
Billabong International Ltd.	4,111		46,892
Bluescope Steel	21,227		125,402
Boral Ltd.	17,910		108,335
Brambles Industries Ltd.	27,608		225,671
Caltex Australian Ltd.	4,281		75,077
Centro Properties Group	22,727		112,984
CFS Gandel Retail Trust	42,893		59,285
Challenger Financial Service	13,847		32,515
Coca-Cola Amatil Ltd.	14,114		74,361
Cochlear Ltd.	1,423		57,767
Coles Myer Ltd.	33,231		280,523
Commonwealth Bank of Australia	36,491		1,204,242
Commonwealth Property Office	35,774		36,951
Computershare Ltd.	12,356		72,077
CSL Ltd.	5,146		205,540
CSR Ltd.	27,982		69,658
DB Reef Trust	71,145		77,451
DCA Group Ltd.	9,310		19,302
Downer Edi Ltd.	7,006		38,734
Foster’s Group Ltd.	59,741		242,833
Futuris Corp. Ltd.	14,491		22,613
Goodman Fielder Ltd. (a)	23,309		37,067
GPT Group	51,684		166,684
Harvey Norman Holdings Ltd.	13,901		40,700
Iluka Resources Ltd.	6,645		32,343
ING Industrial Fund	20,392		33,792
Insurance Australia Group Ltd.	45,834		182,217
Investa Property Group	40,599		66,070
James Hardie Industries Ltd.	14,248		81,525
John Fairfax Holdings Ltd.	26,931		75,047
Leighton Holdings Ltd.	4,775		61,563
Lend Lease Corp. Ltd.	10,206		106,101
Lion Nathan Ltd.	7,514		43,552
Macquarie Airports	17,111		39,036
Macquarie Bank Ltd.	6,553		335,998
Macquarie Communications Infrastructure Group	7,433		32,644
Macquarie Goodman Group	34,564		154,107


	Shares	Value
Common Stocks (Cont.)

Australia (Cont.)
Macquarie Infrastructure Grp.	68,680	$	171,481
Macquarie Office Trust	54,067		55,445
Mayne Pharma Ltd. (a)	18,392		35,534
Mirvac Group	24,096		77,890
Multiplex Group	20,140		48,939
National Australia Bank Ltd.	45,306		1,183,728
Newcrest Mining Ltd.	9,618		150,662
Onesteel Ltd.	18,539		56,070
Orica Ltd.	9,036		160,413
Origin Energy Ltd.	21,858		119,546
Pacific Brands Ltd.	15,740		25,147
Paladin Resources Ltd. (a)	11,612		35,465
Paperlinx Ltd.	12,720		29,491
Perpetual Trustees Australia	1,149		62,457
Publishing & Broadcasting	3,610		48,850
Qantas Airways Ltd.	25,282		55,610
QBE Insurance Group Ltd.	22,151		337,438
Rinker Group Ltd.	26,312		320,465
Rio Tinto Ltd.	8,044		465,049
Santos Ltd.	17,611		158,349
SFE Corp. Ltd.	4,380		53,704
Sonic Healthcare Ltd.	6,818		71,944
Stockland	36,676		191,323
Suncorp-Metway Ltd.	15,327		220,387
Symbion Health Ltd.	18,392		41,821
Tabcorp Holding Ltd.	15,578		175,955
Telstra Corp. Ltd.	60,934		166,631
Toll Holdings Ltd.	14,560		152,014
Transurban Group	22,782		117,659
Unitab Ltd.	2,943		32,279
Wesfarmers Ltd.	10,678		280,337
Westfield Group	43,126		555,373
Westpac Banking Corp.	51,608		892,786
Woodside Petroleum Ltd.	13,254		433,358
Woolworths Ltd.	33,315		498,841
WorleyParsons Ltd.	4,972		74,263
Zinifex Ltd.	12,422		92,492

			16,812,895

Austria (0.54%)
Andritz AG	285		47,112
BETandWIN.com Interactive Entertainment AG (a)	614		48,691
Boehler-Uddeholm	996		54,461
Erste Bank Der Oester Spark	5,211		293,266
Flughafen Wien AG	288		21,999
IMMOEAST Immobilien Anlagen AG (a)	7,867		84,423
Immofinaz Immobilien Anlagen AG (a)	11,047		122,645
Mayr-Melnhof Karton AG	179		28,827
Meinl European Land Ltd. (a)	3,550		72,332
Oest Elektrizatswirts AG Class A	2,180		104,841
OMV AG	4,698		279,718


	Shares	Value
Common Stocks (Cont.)

Austria (Cont.)
Raiffeisen International Bank Holding	1,229	$	106,735
RHI AG (a)	901		29,156
Telekom Austria AG	10,038		223,529
VoestAlpine AG	564		85,700
Wiener Staedtische Allgemeine Versicherung AG	1,135		66,779
Wienerberger AG	1,780		84,580

			1,754,794

Belgium (1.14%)
Agfa Gevaert NV	2,844		68,897
Barco NV	307		28,370
Bekaert NV	405		38,903
Belgacom SA	5,019		166,459
Cofinimmo	134		23,172
Colruyt SA	497		77,617
Compagnie Maritime Belge SA	530		15,395
D’Ieteren NV	84		27,129
Delhaize Group	2,131		147,731
Dexia	15,871		381,636
Euronav SA	636		19,572
Fortis	33,200		1,130,404
Groupe Bruxelles Lambert SA	2,094		219,355
InBev NV	5,187		254,430
KBC Groupe	5,154		553,088
Mobistar SA	836		66,349
Omega Pharma SA	599		41,832
Solvay SA	1,760		202,489
UCB SA	2,453		132,717
Umicore	655		87,464

			3,683,009

Denmark (0.71%)
A P Moller-Maersk A/S	31		241,330
Bang & Olufsen Class B	395		43,687
Carlsberg A/S Class B	899		65,746
Codan A/S	145		10,480
Coloplast Class B	708		52,567
Dampskibsselskabet Torm A/S	450		21,451
Danisco A/S	1,515		110,407
Danske Bank	12,056		458,934
DSV De Sammenslut Vogn Class B	580		96,967
East Asiatic Company Ltd. A/S	700		26,437
FLSmidth & Co. A/S	1,061		40,025
GN Store Nord	6,110		70,196
H. Lundbeck A/S	1,542		35,167
Jyske Bank A/S (a)	1,193		69,143
NKT Holding A/S	538		33,626
Novo Nordisk A/S	6,860		436,995
Novozymes A/S Class B	1,549		104,650
Sydbank A/S	1,001		33,213
Topdanmark A/S (a)	648		90,336


	Shares	Value
Common Stocks (Cont.)

Denmark (Cont.)
Trygvesta A/S	700	$	43,691
Vestas Wind Systems A/S (a)	5,315		145,364
William DeMant Holding (a)	774		57,866

			2,288,278

Finland (1.47%)
Amer Group	2,082		43,486
Cargotec Corp.	1,028		45,034
Elisa Corp. Class A	4,593		87,474
Fortum OYJ	12,443		318,304
KCI Konecranes OYJ	1,388		24,997
Kesko OYJ	1,987		76,193
Kone Corp. OYJ Class B	2,056		85,466
Metso OYJ	3,363		122,032
Neste Oil OYJ	3,731		131,425
Nokia OYJ	120,342		2,456,618
Nokian Renkaat OYJ	2,750		36,159
OKO Bank	3,700		54,424
Orion-Yhtyma Class B	2,045		40,621
Outokumpo OYJ	2,996		70,126
Rautaruukki OYJ	2,314		69,909
Sampo Insurance Co.	11,201		213,753
SanomaWSOY OYJ	965		23,229
Stora Enso OYJ R Shares	17,225		240,585
Tietoenator Corp. OYJ	2,312		66,773
UPM-Kymmene OYJ	14,893		320,974
Uponor OYJ	1,644		44,473
Wartsila OYJ Class B	1,724		72,768
YIT OYJ	3,407		83,538

			4,728,361

France (9.71%)
Accor SA	5,735		349,089
Air France	3,523		82,822
Air Liquide	3,358		654,136
Alcatel SA (a)	38,209		484,803
Alstom (a)	3,161		288,878
Arcelor	14,861		717,360
Atos Origin (a)	1,969		128,819
AXA Co.	46,288		1,519,192
BIC SA	856		55,400
BNP Paribas	23,477		2,247,615
Bouygues	5,791		297,760
Business Objects SA (a)	2,599		70,906
Cap Gemini	3,630		207,215
Carrefour SA	16,957		994,217
Casino Guichard Perrachon	1,079		82,047
CNP Assurances	1,017		96,714
Compagnie De Saint-Gobain	8,863		633,695
Credit Agricole SA	17,019		647,602
Dassault Systemes SA	1,552		83,175
Essilor International	2,805		282,355


	Shares	Value
Common Stocks (Cont.)

France (Cont.)
Euronext	2,404	$	225,385
European Aeronautic Defense	8,943		256,910
France Telecom SA	47,923		1,030,384
Gaz de France	5,689		191,009
Gecina SA	265		34,708
Groupe Danone	6,731		855,333
Hermes International SCA	1,746		154,427
Imerys SA	948		75,784
Klepierre	660		76,440
L’Oreal	8,407		794,107
Lafarge SA	4,261		534,921
Lagardere SCA	3,419		252,326
LVMH Moet Hennessy Louis Vuitton SA	6,940		688,825
M6 Metropole Television	1,550		48,512
Michelin Class B	4,088		245,752
Neopost SA	924		105,302
PagesJuanes SA	3,355		105,349
Pernod-Ricard	2,145		425,252
Peugeot SA	4,351		270,744
PPR SA	1,952		248,922
Publicis Groupe SA	3,766		145,470
Renault SA	5,263		565,458
Safran SA	4,878		106,191
Sanofi-Aventis	28,749		2,805,658
Schneider Electric SA	6,491		676,639
SCOR SA	26,745		58,496
Societe des Autoroutes Paris	809		55,463
Societe Generale Class A	9,835		1,446,638
Societe Television Francaise 1	3,413		111,318
Sodexho Alliance	2,848		136,857
STMicroelectronics NV	18,699		301,114
Suez SA	28,594		1,188,628
Technip-Coflexip SA	2,518		139,454
Thales SA	2,198		85,859
Thomson SA	7,396		122,316
Total SA	62,435		4,108,668
Unibail	1,275		222,276
Valeo	2,176		77,485
Vallourec SA	197		236,854
Veolia Environnement	8,203		423,984
Vinci SA	5,708		588,081
Vivendi	32,676		1,145,162
Zodiac SA	1,102		61,976

			31,354,237

Germany (6.65%)
Adidas-Salomon AG	5,800		277,303
Allianz AG	11,370		1,796,326
Altana AG	1,971		109,815
BASF AG	14,628		1,174,610
Bayer AG	19,057		876,032
Beiersdorf AG	461		69,466


	Shares	Value
Common Stocks (Cont.)

Germany (Cont.)
Bilfinger Berger AG	896	$	48,718
Celesio AG	1,090		99,083
Commerzbank AG	17,381		632,254
Continental AG	3,712		379,447
DaimlerChrysler AG	25,914		1,280,403
Depfa Bank PLC	9,853		163,328
Deutsche Bank AG	14,563		1,639,159
Deutsche Boerse AG	3,016		410,836
Deutsche Lufthansa	6,549		120,622
Deutsche Post AG	20,201		541,566
Deutsche Postbank AG	1,610		115,855
Deutsche Telekom AG	77,768		1,251,322
Douglas Holding AG	1,264		58,396
E.On AG	17,737		2,042,240
Fresenius Medical Care	1,875		215,552
Heidelberger Druckmaschinen	1,592		72,389
Hochtief AG	1,361		75,707
Hypo Real Estate Holding	3,803		231,002
Infineon Technologies AG (a)	21,306		237,360
IVG Immobilien AG	2,488		75,165
Karstadtquelle AG (a)	1,592		42,252
Linde AG	3,077		237,100
MAN AG	3,787		274,254
Merck KGaA	1,394		126,771
Metro AG	4,208		238,541
MLP AG	1,705		35,132
Muenchener Rueckvers AG	5,560		759,581
Premiere AG (a)	1,686		16,346
Puma AG	334		129,840
Qiagen NV (a)	4,066		54,867
Rheinmetall AG	969		67,560
RWE AG	12,253		1,019,477
Salzgitter AG	1,108		94,059
SAP AG	6,309		1,331,472
Siemens AG	23,620		2,055,265
Solarworld AG	1,100		69,039
Suedzucker AG	1,682		37,305
ThyssenKrupp AG	10,318		353,290
TUI AG (a)	6,201		122,857
Volkswagen AG	4,867		341,324
Wincor Nixdorf AG	523		66,861

			21,467,149

Greece (0.64%)
Alpha Bank AE	11,289		281,275
Bank of Piraeus	6,097		145,050
Coca-Cola Hellenic Bottling	2,970		88,512
Cosmote Mobile Telecommunication	3,740		84,192
EFG Eurobank Ergasias	6,732		186,677
Emporiki Bank of Greece (a)	2,440		84,513
Folli-Follie SA	400		9,352
Germanos SA	1,340		32,050
Greek Org of Football Prognostics SA	6,370		230,576


	Shares	Value
Common Stocks (Cont.)

Greece (Cont.)
Hellenic Exchanges SA	1,570	$	25,262
Hellenic Petroleum SA	3,019		40,159
Hellenic Technodomiki Tev SA	3,096		29,779
Hellenic Telecommunications Org. (a)	7,839		172,656
Intracom SA	2,430		16,162
Motor Oil (Hellas) Corinth Refineries SA	644		17,166
National Bank of Greece	10,791		426,221
Public Power Corp.	3,059		72,462
Technical Olympic SA	2,490		11,211
Titan Cement Co. SA	1,870		87,732
Viohalco, Hellenic Copper and Aluminum Industry SA	2,850		26,100

			2,067,107

Hong Kong (1.63%)
ASM Pacific Technology	6,000		29,242
Bank of East Asia Ltd.	39,805		163,755
BOC Hong Kong Holdings Ltd.	105,000		205,503
Cathay Pacific Airways Ltd.	30,000		52,535
Cheung Kong Holdings Ltd.	44,000		476,752
Cheung Kong Infrastructure	12,000		34,688
CLP Holdings Ltd.	49,283		288,414
Espirit Holdings Ltd.	28,000		228,577
Foxconn International Holdings Ltd. (a)	53,000		113,284
Giordano International Ltd.	44,000		20,821
Hang Lung Properties Ltd.	52,000		93,069
Hang Seng Bank Ltd.	21,774		276,160
Henderson Land Development Co. Ltd.	21,000		109,106
Hong Kong & China Gas Co. Ltd.	106,534		233,883
Hong Kong Electric	40,000		181,039
Hong Kong Exchange & Clearing	30,000		192,949
Hopewell Holdings	16,000		45,118
Hutchison Telecommunications International Ltd. (a)	38,000		61,162
Hutchison Whampoa Ltd.	59,210		540,539
Hysan Development Co.	17,000		47,938
Johnson Electric Holdings	44,716		32,531
Kerry Properties Ltd.	16,000		54,492
Kingboard Chemicals Holdings Co. Ltd.	16,000		45,118
Li & Fung Ltd.	55,000		111,186
Link REIT (a)	60,000		120,134
Melco International Development Ltd.	16,000		40,174
MTR Corp.	36,000		86,914
New World Development	70,800		116,689
Orient Overseas International Ltd.	6,600		23,923
PCCW Ltd.	106,000		75,750
Shangri-La Asia Ltd.	32,271		62,121
Shun Tak Holdings Ltd.	26,000		33,980
Sino Land Co.	42,000		67,059
Solomon Systech International Ltd.	46,000		11,609
Sun Hung Kai Properties Ltd.	39,000		397,718
Swire Pacific Ltd. Class A	27,000		278,646


	Shares	Value
Common Stocks (Cont.)

Hong Kong (Cont.)
Techtronic Industries	33,500	$	45,292
Television Broadcasts Ltd.	8,000		49,444
Texwinca Holdings Ltd.	18,000		12,052
Wharf Holdings Ltd.	35,114		124,789
Wing Hang Bank Ltd.	4,000		35,023
Yue Yuen Industrial Holdings	13,500		37,112

			5,256,290

Ireland (0.80%)
Allied Irish Bank PLC	24,658		591,668
Bank of Ireland	27,794		495,921
C&C Group PLC	7,721		67,055
CRH PLC	15,048		489,262
DCC PLC	2,156		51,844
Eircom Group PLC	19,130		53,096
Elan Corp. PLC (a)	11,939		198,518
Fyffes PLC	8,271		14,599
Grafton Group PLC (a)	6,064		76,398
Greencore Group PLC	2,794		13,151
IAWS Group PLC	2,956		52,176
Independent News & Media PLC	16,318		47,796
Irish Life & Permanent PLC	7,589		180,545
Kerry Group PLC Class A	3,805		81,762
Kingspan Group PLC	3,636		63,481
Paddy Power PLC	863		14,957
Ryanair Holdings PLC (a)	9,352		84,928

			2,577,157

Italy (3.74%)
Alleanza Assicurazioni	12,056		136,623
Arnoldo Mondadori Editore	3,562		34,352
Assicurazione Generali Itl	27,150		989,002
Autogrill SpA	3,779		58,147
Autostrade SpA	8,046		226,099
Banca Fideuram SpA	9,185		53,454
Banca Intesa	26,794		145,480
Banca Intesa SpA	111,404		652,610
Banca Monte Dei Paschi Siena SpA	32,096		192,946
Banca Popolare Di Verona SpA	10,569		283,208
Banche Popolari Unite SCRL	9,845		254,741
Banco Popolare di Milano SCRL	11,081		141,236
Benetton Group	1,758		26,263
Bulgari SpA	4,232		48,013
Capitalia SpA	48,740		399,920
Enel SpA	121,323		1,045,901
ENI SpA	73,637		2,169,090
Fiat SpA (a)	15,050		200,389
Finmeccanica SpA	8,476		188,204
Fondiaria-Sai SpA	1,758		71,864
Gruppo Editoriale L’Espresso	5,499		29,365
Italcementi SpA	2,020		51,105
Lottomatica SpA	993		37,671


	Shares	Value
Common Stocks (Cont.)

Italy (Cont.)
Luxottica Group SpA	3,880	$	105,408
Mediaset SpA	22,348		263,546
Mediobanca SpA	13,878		271,763
Mediolanum SpA	7,055		49,540
Pirelli & Co. SpA	76,738		66,792
SanPaolo IMI SpA	31,865		563,668
Seat Pagine Gaille	118,660		55,245
Snam Rete Gas	26,949		118,488
Telecom Italia RNC SpA	174,119		449,868
Telecom Italia SpA	308,185		858,336
Terna SpA	34,180		91,152
Tiscali SpA (a)	7,820		23,230
UniCredito Italiano SpA	221,596		1,734,606

			12,087,325

Japan (24.21%)
77 Bank Ltd.	10,000		69,644
ACCESS Co. Ltd. (a)	6		42,992
Acom Co. Ltd.	2,080		112,870
Aderans Co. Ltd.	900		24,301
Advantest Corp.	2,190		223,134
Aeon Co. Ltd.	16,800		368,473
Aeon Credit Service Co. Ltd.	2,400		58,301
Aiful Corp.	2,000		106,781
Aisin Seiki Co. Ltd.	5,500		163,404
Ajinomoto Co. Inc.	17,000		188,212
Alfresa Holdings Corp.	600		37,277
All Nippon Airways Co. Ltd.	16,000		61,517
Alps Electric Co. Ltd.	5,000		62,478
Amada Co. Ltd.	10,000		104,858
Amano Corp.	2,000		29,710
Aoyama Trading Co. Ltd.	1,600		50,052
ARRK Corp.	1,500		35,455
Asahi Breweries Ltd.	11,100		155,869
Asahi Glass Co. Ltd.	27,000		342,337
Asahi Kasei Corp.	35,000		228,460
Asatsu DK Inc.	800		25,865
ASICS Corp.	4,000		40,755
Astellas Pharma Inc.	15,451		567,059
Autobacs Seven Co. Ltd.	600		26,110
Bank of Fukuoka Ltd.	15,000		114,034
Bank of Kyoto	7,000		75,542
Bank of Yokohama Ltd.	36,000		278,399
Benesse Corp.	1,900		65,580
Bridgestone Corp.	17,400		335,259
Canon Inc.	30,300		1,485,346
Canon Sales Co. Inc.	2,000		41,244
Casio Computer Co. Ltd.	6,200		118,376
Central Glass Co. Ltd.	6,000		35,704
Central Japan Railway Co.	44		438,308
Chiba Bank Ltd.	20,000		186,998
Chiyoda Corp.	4,000		81,790


	Shares	Value
Common Stocks (Cont.)

Japan (Cont.)
Chubu Electric Power Co. Inc.	17,100	$	461,718
Chugai Pharmaceutical Co. Ltd.	8,000		163,230
Circle K Sunkus Co. Ltd.	1,100		23,790
Citizen Watch Co. Ltd.	10,300		93,334
Coca-Cola West Japan Co. Ltd.	1,200		25,428
Comsys Holdings Corp.	3,000		37,015
Credit Saison Co. Ltd.	4,600		217,861
CSK Corp.	1,900		86,666
Dai Nippon Printing Co. Ltd.	18,000		278,399
Daicel Chemical Industries	8,000		65,362
Daido Steel Co. Ltd.	10,000		78,469
DAIFUKU Co. Ltd.	2,000		32,995
Daiichi Sanyko Co. Ltd.	19,913		548,112
Daikin Industries Ltd.	6,700		232,428
Dainippon Ink & Chemical Inc.	18,000		67,476
Dainippon Screen Manufacturing
Co. Ltd.	7,000		64,103
Daito Trust Construction Co. Ltd.	2,600		144,041
Daiwa House Industry Co. Ltd.	14,000		223,873
Daiwa Securities Group Inc.	36,000		429,081
Denki Kagaku Kogyo KK	14,000		58,231
Denso Corp.	15,200		496,749
Dentsu Inc.	52		143,586
Dowa Mining Co. Ltd.	8,000		70,745
E*Trade Securities Co. Ltd.	42		56,152
eAccess Ltd.	34		22,312
East Japan Railway Co.	97		720,465
Ebara Corp.	9,000		38,378
EDION Corp.	1,900		37,688
Eisai Co. Ltd.	7,200		324,013
Electric Power Development	4,680		178,301
Elpida Memory Inc. (a)	1,700		63,876
Familymart Co. Ltd.	1,900		54,789
Fanuc Ltd.	5,200		467,109
Fast Retailing	1,500		122,553
Fuji Electric Holdings Co. Ltd.	15,000		78,513
Fuji Photo Film Co. Ltd.	13,900		466,410
Fuji Soft ABC Inc.	800		26,354
Fuji Television Network Inc.	20		44,390
Fujikura Ltd.	11,000		121,400
Fujitsu Ltd.	52,000		403,041
Furukawa Electric Co. Ltd.	18,000		116,393
Glory Ltd.	1,600		30,759
Goodwill Group Inc.	36		26,582
Gunma Bank Ltd.	11,000		81,702
Gunze Ltd.	5,000		29,797
Hakuhodo DY Holdings Inc.	600		44,145
Hankyu Department Stores	3,000		23,279
Hanshin Electric Railway Co. Ltd.	5,000		35,608
HASEKO Corp. (a)	21,000		71,382
Hikari Tsushin Inc.	600		32,401
Hino Motors Ltd.	8,000		46,557


	Shares	Value
Common Stocks (Cont.)

Japan (Cont.)
Hirose Electric Co. Ltd.	900	$	109,315
Hitachi Cable Ltd.	4,000		18,525
Hitachi Capital Corp.	1,400		24,467
Hitachi Chemical Co. Ltd.	3,100		81,265
Hitachi Construction Machine	3,000		72,221
Hitachi High-Technologies Corp.	1,500		45,613
Hitachi Ltd.	92,000		607,759
Hokkaido Electric Power	5,300		125,738
Hokuhoku Financial Group Inc.	31,000		129,483
Honda Motor Co. Ltd.	44,200		1,402,010
House Foods Corp.	2,200		33,258
Hoya Corp.	12,400		441,000
Ibiden Co. Ltd.	3,800		182,628
Index Corp.	30		29,623
INPEX Holdings Inc. (a)	23		202,988
Isetan Co. Ltd.	5,000		85,198
Ishikawajima-Harima Heavy Industries Co. Ltd.	35,000		110,713
Ito En Ltd.	1,600		58,581
Itochu Corp.	43,000		377,621
Itochu Techno-Science Corp.	900		41,445
JAFCO Co. Ltd.	1,000		59,944
Japan Airlines Corp. (a)	18,000		45,142
Japan Prime Investment Corp.	11		33,065
Japan Real Estate Investment	8		71,304
Japan Retail Fund Investment	7		55,051
Japan Steel Works Ltd.	11,000		75,358
Japan Tobacco Inc.	130		473,698
JFE Holdings Inc.	15,800		669,609
JGC Corp.	6,000		103,233
Joyo Bank Ltd.	21,000		127,351
JS Group Corp.	7,500		157,615
JSR Corp.	5,000		126,267
JTEKT Corp.	5,100		98,488
Kajima Corp.	25,000		114,689
Kaken Pharmaceutical Co. Ltd.	2,000		15,012
Kamigumi Co. Ltd.	7,000		53,155
Kaneka Corp.	8,000		72,702
Kansai Electric Power	21,700		485,425
Kansai Paint Co. Ltd.	7,000		55,846
Kao Corp.	14,000		366,393
Katokichi Co. Ltd.	2,700		27,132
Kawasaki Heavy Industries Ltd.	37,000		124,476
Kawasaki Kisen Kaisha Ltd.	14,000		80,986
KDDI Corp.	69		423,864
Keihin Electric Express Railway	12,000		84,935
Keio Corp.	15,000		97,125
Keisei Electric Co.	6,000		33,869
Keyence Corp.	968		247,160
Kikkoman Corp.	4,000		49,843
Kinden Corp.	4,000		34,289
Kintetsu Corp.	45,000		150,210
Kirin Brewery Co. Ltd.	22,000		345,841


	Shares	Value
Common Stocks (Cont.)

Japan (Cont.)
KK DaVinci Advisors (a)	31	$	30,610
Kobe Steel Ltd.	75,000		234,621
Kokuyo Co. Ltd.	2,100		35,122
Komatsu Ltd.	26,000		516,865
Komori Corp.	2,000		42,555
Konami Corp.	2,600		57,366
Konica Minolta Holdings Inc. (a)	13,000		164,147
Kose Corp.	880		27,683
Kubota Corp.	30,000		284,429
Kuraray Co. Ltd.	11,000		123,034
Kurita Water Industries Ltd.	3,000		61,604
Kyocera Corp.	4,600		356,134
Kyowa Hakko Kogyo Co. Ltd.	10,000		67,372
Kyushu Electric Power	11,400		264,977
Lawson Inc.	1,600		58,301
Leopalace21 Corp.	3,600		124,257
Mabuchi Motor Co. Ltd.	800		47,815
Makita Corp.	3,000		94,897
Marubeni Corp.	39,000		207,882
Marui Co. Ltd.	9,000		140,143
Matsui Securities Co. Ltd.	3,000		28,390
Matsumotokiyoshi Co. Ltd.	1,000		25,428
Matsushita Electric Industries	56,000		1,181,755
Matsushita Electric Works	9,114		101,222
Mediceo Paltac Holdings Co. Ltd.	4,300		76,839
Meiji Dairies Corp.	7,000		48,873
Meiji Seika Kaisha Ltd.	9,000		45,849
Meitec Corp.	1,000		32,594
Millea Holdings Inc.	42		781,720
Minebea Co. Ltd.	10,000		54,439
Mitsubishi Chemical Holdings Corp.	33,500		209,302
Mitsubishi Corp.	38,500		768,722
Mitsubishi Electric Corp.	55,000		440,711
Mitsubishi Estate Co. Ltd.	32,000		679,483
Mitsubishi Gas Chem Co.	11,000		126,110
Mitsubishi Heavy Industries Ltd.	89,000		384,184
Mitsubishi Logistics Corp.	3,000		46,977
Mitsubishi Materials Corp.	27,000		115,135
Mitsubishi Rayon Co. Ltd.	15,000		122,160
Mitsubishi UFJ Financial Group Inc.	245		3,425,376
Mitsubishi UFJ Securities Co. Ltd.	8,000		103,181
Mitsui & Co. Ltd.	44,000		621,321
Mitsui Chemicals Inc.	19,000		124,021
Mitsui Engineering & Shipbuilding	19,000		58,109
Mitsui Fudosan Co. Ltd.	23,000		499,432
Mitsui Mining & Smelting Co.	17,000		100,271
Mitsui OSK Lines Ltd.	31,000		210,748
Mitsui Sumitomo Insurance Co.	35,000		439,488
Mitsui Trust Holding Inc.	15,000		180,225
Mitsukoshi Ltd.	12,000		54,841
Mitsumi Electric Co. Ltd.	1,600		18,930
Mizuho Financial Group Inc.	272		2,303,111
Murata Manufacturing Co. Ltd.	6,000		389,549


	Shares	Value
Common Stocks (Cont.)

Japan (Cont.)
Namco Bandai Holdings Inc.	6,000	$	91,174
NEC Corp.	58,000		309,158
NEC Electronics Corp. (a)	1,000		32,069
Net One Systems Co. Ltd.	13		24,196
NGK Insulators Ltd.	8,000		93,534
NGK Spark Plug Co. Ltd.	5,000		100,489
NHK Spring Co. Ltd.	4,000		46,033
Nichirei Corp.	8,000		42,782
Nidec Corp.	3,000		214,960
Nikko Cordial Corp.	23,500		300,629
Nikon Corp.	8,000		139,671
Nintendo Co. Ltd.	2,800		469,766
Nippon Building Fund Inc.	13		126,092
Nippon Electric Glass Co. Ltd.	6,000		120,325
Nippon Express Co. Ltd.	22,000		118,805
Nippon Kayaku Co. Ltd.	5,000		41,638
Nippon Light Metal Co. Ltd.	15,000		41,026
Nippon Meat Packers Inc.	5,000		57,934
Nippon Mining Holdings Inc.	22,500		189,335
Nippon Oil Corp.	37,000		270,290
Nippon Paper Group Inc.	25		102,237
Nippon Sheet Glass Co. Ltd.	10,000		55,575
Nippon Shokubai Co. Ltd.	3,000		36,674
Nippon Steel Corp.	174,000		658,354
Nippon Telegraph & Telephone Corp.	148		725,516
Nippon Yusen Kabushiki Kaish	30,000		195,037
Nishi-Nippon City Bank Ltd.	16,000		76,617
Nishimatsu Construction Co.	7,000		26,119
Nissan Chemical Industries	5,000		62,303
Nissan Motor Co. Ltd.	64,100		700,148
Nisshin Seifun Group Inc.	5,500		61,277
Nisshin Steel Co. Ltd.	26,000		83,607
Nisshinbo Industries Inc.	5,000		54,701
Nissin Food Products Co. Ltd.	2,600		91,786
Nitori Co. Ltd.	900		43,805
Nitto Denko Corp.	4,700		334,717
NOK Corp.	3,100		89,934
Nomura Holdings Inc.	50,300		942,795
Nomura Real Estate Office Fund Inc.	5		39,584
Nomura Research Institute	600		74,240
NSK Ltd.	13,000		107,803
NTN Corp.	12,000		94,897
NTT Data Corp.	35		151,389
NTT DoCoMo Inc.	516		757,497
NTT Urban Development Corp.	7		54,561
Obayashi Corp.	18,000		123,785
OBIC Co. Ltd.	200		40,440
Odakyu Electric Railway Co.	18,000		116,078
Oji Paper Co. Ltd.	21,000		119,460
Oki Electric Industries Co. Ltd.	16,000		37,749
OKUMA Corp.	4,000		45,159
Okumura Corp.	5,000		27,788
Olympus Corp.	7,000		187,172


	Shares	Value
Common Stocks (Cont.)

Japan (Cont.)
Omron Corp.	6,000	$	152,831
Onward Kashiyama Co. Ltd.	4,000		61,552
Oracle Corp.	900		42,074
Oriental Land Co. Ltd.	1,400		78,784
Orix Corp.	2,400		586,159
Osaka Gas Co. Ltd.	57,000		183,293
OSG Corp.	2,000		33,677
OTSUKA Corp.	400		45,089
Park24 Co. Ltd.	1,200		35,337
Pioneer Corp.	4,400		70,975
Promise Co. Ltd.	2,500		144,836
QP Corp.	4,300		40,843
Rakuten Inc.	185		109,927
Resona Holdings Inc.	131		413,238
Ricoh Co. Ltd.	19,000		372,728
Rinnai Corp.	900		23,829
Rohm Co. Ltd.	3,100		277,115
Round One Corp.	12		42,782
Ryohin Keikaku Co. Ltd.	700		57,375
Sanken Electric Co. Ltd.	3,000		38,168
Sankyo Co. Ltd.	1,400		88,937
Santen Pharmaceutical Co. Ltd.	2,100		49,913
Sanwa Shutter Corp.	4,000		23,558
Sanyo Electric Co. Ltd. (a)	44,000		94,967
Sapporo Breweries	7,000		35,416
Sapporo Hokuyo Holdings Inc.	8		83,887
SBI Holdings Inc.	217		95,758
Secom Co. Ltd.	6,000		283,642
Sega Sammy Holdings Inc.	5,068		187,769
Seiko Epson Corp.	3,700		100,874
Seino Holdings Co. Ltd.	4,000		42,223
Sekisui Chemical	14,000		120,867
Sekisui House Ltd.	15,000		205,916
Seven & I Holdings Co. Ltd.	22,940		755,713
SFCG Co. Ltd.	160		36,351
Sharp Corp.	28,000		442,363
Shimachu Co. Ltd.	1,500		39,191
Shimamura Co. Ltd.	600		65,746
Shimano Inc.	2,200		67,284
Shimizu Corp.	17,000		95,220
Shin-Etsu Chemical Co. Ltd.	11,100		603,303
Shinko Electric Industries Co. Ltd.	1,900		55,121
Shinko Securities Co. Ltd.	13,000		54,981
Shinsei Bank Ltd.	35,000		221,732
Shionogi & Co. Ltd.	9,000		160,433
Shiseido Co. Ltd.	10,000		196,173
Shizuoka Bank Ltd.	17,000		183,607
Showa Denko K.K.	28,000		124,537
Showa Shell Sekiyu K.K.	4,300		50,462
Skylark Co. Ltd.	2,100		45,784
SMC Corp.	1,600		226,354
Softbank Corp.	21,100		472,925
Sojitz Holdings Corp. (a)	10,000		39,497


	Shares	Value
Common Stocks (Cont.)

Japan (Cont.)
Sompo Japan Insurance Inc.	24,000	$	335,547
Sony Corp.	28,300		1,248,820
Stanley Electric Co. Ltd.	4,900		101,049
SUMCO Corp.	1,300		74,065
Sumitomo Bakelite Co. Ltd.	5,000		46,924
Sumitomo Chemical Co. Ltd.	42,000		350,122
Sumitomo Corp.	30,000		395,579
Sumitomo Electric Industries	20,000		292,905
Sumitomo Heavy Industries	17,000		157,165
Sumitomo Metal Industries Ltd.	116,000		478,434
Sumitomo Metal Mining Co. Ltd.	15,000		195,561
Sumitomo Mitsui Financial Group Inc.	169		1,786,875
Sumitomo Osaka Cement Co. Ltd.	11,000		33,834
Sumitomo Realty & Development Co. Ltd.	11,000		271,059
Sumitomo Rubber Industries	4,000		44,006
Sumitomo Titanium Corp.	300		47,501
Sumitomo Trust & Banking	36,000		393,219
Surgua Bank Ltd.	6,000		80,846
Suzuken Co. Ltd.	1,740		69,028
T&D Holdings Inc.	6,700		541,550
Taiheiyo Cement Corp.	23,000		84,813
Taisei Corp.	25,000		91,314
Taisho Pharmaceutical Co. Ltd.	5,000		98,086
Taiyo Nippon Sanso Corp.	8,000		63,474
Taiyo Yuden Co. Ltd.	3,000		38,090
Takara Holdings Inc.	5,000		29,229
Takashimaya Co. Ltd.	8,000		100,385
Takeda Pharmaceutical Co. Ltd.	25,100		1,561,622
Takefuji Corp.	3,100		184,743
Tanabe Seiyaku Co. Ltd.	6,000		73,820
TDK Corp.	3,400		258,476
Teijin Ltd.	23,000		145,911
Terumo Corp.	4,700		156,886
The Daimaru Inc.	6,000		79,483
THK Co. Ltd.	3,000		89,392
TIS Inc.	1,000		27,962
Tobu Railway Co. Ltd.	24,000		114,505
Toda Corp.	6,000		28,993
Toho Co. Ltd.	3,800		75,874
Toho Titanium Co. Ltd.	900		48,602
Tohoku Electric Power	12,700		278,548
Tokai Rika Co. Ltd.	1,100		24,222
Tokuyama Corp.	7,000		103,985
Tokyo Broadcasting System	1,000		24,074
Tokyo Electric Power Co.	32,500		897,413
Tokyo Electron Ltd.	4,700		328,556
Tokyo Gas Co. Ltd.	67,000		315,563
Tokyo Seimitsu Co. Ltd.	900		46,714
Tokyo Steel Mfg. Co. Ltd.	3,000		65,668
Tokyo Style Co. Ltd.	2,000		23,785
Tokyo Tatemono Co. Ltd.	8,000		85,704
Tokyu Corp.	29,000		169,277


	Shares	Value
Common Stocks (Cont.)

Japan (Cont.)
Tokyu Land Corp.	12,000	$	93,429
TonenGeneral Sekiyu KK	9,000		92,485
Toppan Printing Co. Ltd.	16,000		180,916
Toray Industries Inc.	38,000		329,727
Toshiba Corp.	83,000		541,777
Tosoh Corp.	14,000		55,785
Toto Ltd.	9,000		86,036
Toyo Seikan Kaisha Ltd.	4,600		83,406
Toyo Suisan Kaisha Ltd.	3,000		46,977
Toyobo Co. Ltd.	17,000		48,130
Toyoda Gosei Co. Ltd.	2,000		40,108
Toyota Industries Corp.	5,500		217,232
Toyota Motor Corp.	81,600		4,271,094
Toyota Tsusho Corp.	5,500		131,925
Trend Micro Inc.	3,000		101,188
UBE Industries Ltd.	25,000		72,309
Uni-Charm Corp.	1,200		66,271
Uniden Corp.	2,000		22,090
UNY Co. Ltd.	5,000		73,707
Ushio Inc.	3,000		63,308
USS Co. Ltd.	710		46,903
Wacoal Corp.	3,000		42,048
West Japan Railway Co.	48		199,231
Yahoo! Japan Corp.	432		228,759
Yakult Honsha Co. Ltd.	3,200		86,963
Yamada Denki Co. Ltd.	2,200		224,345
Yamaha Corp.	5,100		95,814
Yamaha Motor Co. Ltd.	5,500		143,700
Yamato Holdings Co. Ltd.	11,000		195,124
Yamazaki Baking Co. Ltd.	3,000		26,870
Yaskawa Electric Corp.	6,000		69,731
Yokogawa Electric Corp.	6,000		85,512
Zeon Corp.	5,000		59,507

			78,157,864

Netherlands (3.25%)
ABN AMRO Holdings NV	51,150		1,399,407
Aegon NV	41,054		702,060
Akzo Nobel NV	7,693		414,843
ASML Holding NV (a)	13,963		282,893
Buhrmann NV	3,065		44,456
Corio NV	1,172		72,899
DSM NV	4,280		178,244
Fugro NV	1,359		58,613
Getronics NV	3,414		36,724
Hagemeyer NV (a)	15,589		71,980
Heineken NV	6,931		293,878
ING Groep NV	52,988		2,082,704
Koninklijke Ahold NV (a)	44,041		382,485
Koninklijke KPN NV	54,804		616,153
Koninklijke Numico NV (a)	4,932		221,357
OCE NV	2,286		33,567


	Shares	Value
Common Stocks (Cont.)

Netherlands (Cont.)
Philips Electronics NV	35,455	$	1,107,869
Randstad Holding NV (a)	1,345		78,860
Reed Elsevier NV	20,378		306,518
Rodamco Europe NV	1,401		137,353
SBM Offshore NV	3,900		103,956
TNT NV	11,852		424,157
Unilever NV-CVA	48,181		1,092,627
Vedior NV-CVA	4,907		103,057
Wereldhave NV	663		64,491
Wolters Kluwer - CVA	8,109		191,568

			10,502,719

New Zealand (0.15%)
Auckland International Airport	37,656		49,788
Contact Energy Ltd.	8,708		37,777
Fisher & Paykel Appliances Class H	6,917		19,429
Fisher & Paykel Healthcare Class C	13,842		36,350
Fletcher Building Ltd.	12,305		68,602
Kiwi Income Property Trust	13,307		11,108
Sky City Entertainment Group	11,467		37,729
Sky Network Television Ltd.	3,770		13,208
Telecom Corp. of New Zealand	55,573		136,797
The Warehouse Group Ltd.	6,267		18,940
Tower Ltd. (a)	9,053		18,975
Vector Ltd.	3,324		4,942
Waste Management Ltd. (b)	3,571		18,755

			472,400

Norway (0.86%)
Acergy SA (a)	5,345		81,357
Aker ASA	600		56,290
Det Norske Oljeselskap (DNO) ASA (a)	24,000		48,193
DNB NOR ASA	19,036		236,234
Frontline Ltd.	1,500		56,025
Norsk Hydro ASA	20,508		543,594
Norske Skogindustrier ASA	4,521		66,273
Ocean Rig ASA (a)	5,300		37,207
Orkla AS Class A	5,298		245,542
Petrojarl ASA (a)	1,662		10,947
Petroleum Geo-Services (a)	1,662		93,714
Prosafe ASA	982		59,946
Schibsted ASA	1,284		34,241
SeaDrill Ltd. (a)	5,200		68,499
Statoil ASA	18,814		533,450
Stolt-Nielsen SA	1,018		23,876
Storebrand ASA	6,883		71,043
Tandberg ASA	3,586		29,668
Tandberg Television ASA (a)	2,212		36,690
Telenor ASA	22,252		268,994
TGS Nopec Geophysical Co. ASA (a)	2,600		45,944
Tomra Systems ASA	5,858		47,523


	Shares	Value
Common Stocks (Cont.)

Norway (Cont.)
Yara International ASA	6,266	$	83,548

			2,778,798

Portugal (0.32%)
Banco BPI SA	10,426		79,212
Banco Comercial Portugues-R	58,256		165,417
Banco Espirito Santo	5,016		67,622
Brisa-Auto Estradas de Portugal SA	10,061		105,007
Cimpor-Cimentos De Portugal	5,358		35,705
Energias De Portugal SA	50,383		197,838
Jeronimo Martins	1,113		19,005
Portugal Telecom SGPS SA	21,793		263,134
PT Multimedia Servicos	2,826		32,712
Sonae Industria SGPS SA (a)	1,818		15,649
Sonae SGPS SA	26,818		40,133

			1,021,434

Singapore (0.83%)
Allgreen Properties Ltd.	14,000		11,144
Ascendas Real Estate Investment Trust	20,000		24,260
Capitaland Ltd.	29,128		82,810
Capitamall Trust	19,000		25,448
Chartered Semiconductor Mfg. Ltd. (a)	30,600		26,099
City Developments Ltd.	13,031		76,975
Comfortdelgro Corp. Ltd.	46,000		44,464
Cosco Corp. Singapore Ltd.	26,000		20,697
Creative Technology Ltd.	1,500		8,339
DBS Group Holdings Ltd.	32,445		371,011
Fraser and Neave Ltd.	26,500		66,968
Haw Par Corp. Ltd.	3,374		12,150
Jardine Cycle & Carriage Ltd.	4,015		25,366
Keppel Corp. Ltd.	16,001		148,602
Keppel Land Ltd.	9,000		22,971
Neptune Orient Lines Ltd.	13,000		14,866
Noble Group Ltd.	25,000		17,216
Olam International Ltd.	19,000		17,285
Oversea-Chinese Banking Corp.	72,000		300,218
Parkway Holdings Ltd.	22,000		34,330
Sembcorp Industries Ltd.	28,200		57,724
Sembcorp Marine Ltd.	13,000		24,639
Singapore Airlines Ltd.	15,000		120,353
Singapore Exchange Ltd.	25,000		55,596
Singapore Land Ltd.	6,000		23,881
Singapore Post Ltd.	38,000		25,928
Singapore Press Holdings Ltd.	44,200		115,048
Singapore Technologies Engineering	39,381		71,903
Singapore Telecommunications	212,790		341,464
SMRT Corp. Ltd.	28,000		19,812
Stats Chippac Ltd. (a)	36,000		22,630
Suntec REIT	18,000		14,101
United Overseas Bank	34,616		341,163
United Overseas Land Ltd.	12,461		22,515


	Shares	Value
Common Stocks (Cont.)

Singapore (Cont.)
Venture Corp. Ltd.	6,397	$	42,839
Want Want Holdings Ltd.	8,000		10,800
Wing Tai Holdings Ltd.	14,000		12,560

			2,674,175

Spain (3.78%)
Abertis Infraestructuras SA	6,713		157,214
AC. Acerinox	5,152		89,356
Acciona SA	801		124,428
ACS Actividades de Cons Y Serv	7,179		299,435
Aguas De Barcelona	21		564
Aguas De Barcelona Class A	2,160		60,035
Altadis SA	7,639		361,124
Antena 3 de Television SA	2,324		53,089
Banco Bilbao Vizcaya Argentaria SA	95,478		1,963,708
Banco Popular Espanol	24,475		364,700
Banco Santander Central Hispano SA	167,055		2,440,131
Cintra Concesiones De Infrae	5,493		71,804
Corporacion Mapfre SA	2,925		53,986
Ebro Puleva SA	1,994		40,934
Endesa SA	26,818		932,660
Fadesa Inmobiliaria SA	1,090		37,391
Fomento De Construct Y Contra	1,379		104,859
Gamesa Corp Technologica	4,907		105,191
Gas Natural SDG SA	5,124		156,440
Grupo Ferrovial	1,726		131,796
Iberdrola SA	22,770		784,308
Iberia (Lineas Aer De Espana)	12,205		31,534
Inditex	6,268		264,403
Indra Sistemas SA	3,438		67,500
Inmobiliaria Colonial SA	793		62,987
Metrovacesa SA	1,416		127,866
NH Hoteles SA	2,552		45,763
Promotora De Infom SA	2,292		36,791
Repsol YPF SA	26,147		748,796
Sacyr Vallehermoso SA	3,136		104,810
Sacyr Vallehermoso SA Temp Shr (a) (b)	116		3,877
Sogecable (a)	1,287		37,022
Telefonica Publicidad e Information SA	4,845		52,489
Telefonica SA	126,335		2,103,886
Union Fenosa SA	3,885		150,365
Zeltia SA	4,769		35,070

			12,206,312

Sweden (2.33%)
Alfa Laval AB	2,441		73,094
ASSA Abloy AB Class B	8,400		141,230
Atlas Copco AB Class A	9,768		271,456
Atlas Copco AB Class B	5,646		146,705
Axfood AB	665		19,127
Billerud Aktiebolag	1,796		23,833
Boliden AB	8,439		155,371


	Shares	Value
Common Stocks (Cont.)

Sweden (Cont.)
Capio AB (a)	2,902	$	52,018
Castellum AB	3,916		40,130
D. Carnegie & Co. AB	1,400		25,678
Electrolux AB Class B	7,753		112,038
Elekta AB Class B	2,505		42,465
Eniro AB	4,693		49,397
Ericsson LM Class B	420,720		1,391,341
Fabege AB	2,719		50,626
Getinge AB Class B	4,985		84,853
Hennes & Mauritz AB Class B	13,329		516,732
Hoganas AB Class B	736		18,306
Holmen AB Class B	1,523		61,582
Husqvarna AB Class B (a)	7,753		93,455
Kungsleden AB	3,900		45,792
Lundin Petroleum AB (a)	4,860		58,920
Modern Times Group Red Shr (a) (b)	1,492		5,108
Modern Times Group MTG AB Class B (a)	1,492		78,469
Nobia AB	1,100		35,766
Nordea Bank AB	61,835		738,918
OMX AB (a)	2,116		37,929
Oriflame Cosmetics SA	1,050		34,943
Sandvik AB (a)	29,125		338,933
SAS AB (a)	2,285		24,051
Scania AB Class B	2,653		120,545
Securitas AB Class B	8,524		163,450
Skandinaviska Enskilda Bank Class A	13,526		322,327
Skanska AB Class B	10,525		162,334
SKF AB Class B	10,803		170,374
SSAB Svenskt Stal AB Series A	4,584		91,403
SSAB Svenskt Stal AB Series B	1,956		36,963
Svenska Cellulosa AB Class B	5,034		208,096
Svenska Handelsbanken	14,716		379,313
Swedish Match AB	9,931		160,072
Tele2 AB Class B	8,751		88,462
Telelogic AB (a)	6,418		14,269
TeliaSonera AB	53,640		304,843
Trelleborg AB Class B	2,394		40,916
Volvo AB Class A	2,774		133,752
Volvo AB Class B	6,232		306,545
Wihlborgs Fastigheter AB	1,330		22,916
WM Data AB	10,175		31,387

			7,526,233

Switzerland (6.75%)
ABB Ltd.	56,068		729,198
Adecco SA	3,841		227,152
Ciba Specialty Chemicals AG	1,902		106,025
Clariant AG (a)	6,575		93,310
Compagnie Financiere Richemont AG Class A	14,258		653,100
Credit Suisse Group	33,618		1,880,881


	Shares	Value
Common Stocks (Cont.)

Switzerland (Cont.)
Geberit AG Reg	112	$	129,539
Givaudan	190		149,585
Holcim Ltd.	5,680		435,333
Kudelski SA Bearer	1,008		24,364
Kuehne & Nagel International AG	1,535		111,746
Kuoni Reisen Holding (a)	78		43,767
Logitech International SA (a)	2,444		94,357
Lonza Group AG	1,044		71,604
Micronas Semiconductor (a)	1,010		27,263
Nestle SA	11,365		3,569,719
Nobel Biocare Holding AG (a)	645		153,132
Novartis AG	65,564		3,550,233
Phonak Holding AG	1,185		74,102
PSP Swiss Property AG (a)	866		44,768
Rieter Holding AG	136		52,284
Roche Holding AG	19,840		3,279,754
Schindler Holding AG	1,560		80,964
Serono SA Class B	153		105,688
SGS SA	120		113,860
SIG Holding AG (a)	155		34,105
Straumann Holding AG	224		57,120
Sulzer AG	107		80,170
Swiss Reinsurance	9,668		675,744
Swisscom AG	613		201,818
Syngenta AG (a)	3,038		403,808
Synthes Inc. (a)	1,342		161,912
The Swatch Group AG	1,683		58,782
The Swatch Group AG Class B	971		164,011
UBS AG	29,260		3,207,100
Unaxis Holding AG (a)	184		51,172
Zurich Financial Services	4,092		897,023

			21,794,493

United Kingdom (23.86%)
3I Group PLC	16,413		273,614
Aegis Group PLC	27,692		66,698
Aggreko PLC	6,054		32,158
Alliance Unichem PLC	7,225		136,544
AMEC PLC	9,756		57,415
Amvescap PLC	21,079		193,045
Anglo American PLC	40,155		1,646,968
ARM Holdings PLC	39,814		83,379
Arriva PLC	6,186		68,235
Associated British Ports Holdings PLC	9,292		155,160
AstraZeneca PLC	44,556		2,689,306
Aviva PLC	67,897		961,125
BAE Systems PLC	92,030		629,248
Balfour Beatty PLC	11,946		75,881
Barclays PLC	183,587		2,086,160
Barratt Developments PLC	6,776		118,786
BBA Group PLC	14,184		69,310
Bellway PLC	3,184		68,299
BG Group PLC	100,809		1,346,856


	Shares	Value
Common Stocks (Cont.)

United Kingdom (Cont.)
BHP Billiton PLC	69,817	$	1,354,318
BOC Group PLC	14,500		423,920
Boots Group PLC	14,427		205,290
Bovis Homes Group PLC	3,401		50,502
BP PLC	583,994		6,808,906
Brambles Industries PLC	21,292		169,305
British Airways PLC (a)	15,321		97,107
British American Tobacco PLC	44,432		1,119,069
British Land Co. PLC	15,405		359,790
British Sky Broadcasting PLC	33,808		358,539
Brixton PLC	6,836		60,583
BT Group PLC	238,500		1,055,174
Bunzl PLC	9,724		111,037
Burberry Group PLC	13,665		108,658
Cadbury Schweppes PLC	59,360		572,443
Capita Group PLC	18,672		159,348
Carnival PLC	4,845		197,375
Carphone Warehouse PLC	10,723		62,957
Cattles PLC	9,132		55,600
Centrica PLC	103,198		544,353
Charter PLC (a)	4,587		68,410
Close Brothers Group PLC	3,443		58,002
Cobham PLC	31,040		95,857
Collins Stewart Tullett	5,490		77,054
Compass Group PLC	60,741		294,565
Cookson Group PLC (a)	5,722		55,577
Corus Group PLC	25,082		211,732
CSR PLC (a)	3,553		82,785
Daily Mail & General NV	8,451		95,953
De La Rue PLC	4,638		46,868
Diageo PLC	80,485		1,353,635
DSG International PLC	55,280		195,247
Electrocomponents PLC	13,264		56,843
EMAP PLC	7,468		117,591
EMI Group PLC	22,028		123,730
Enterprise Inns	9,836		172,429
First Choice Holidays PLC	11,134		47,097
FirstGroup PLC	11,683		101,324
FKI PLC	14,846		29,375
Friends Provident PLC	49,951		165,110
Gallaher Group PLC	18,708		292,326
GKN PLC	20,220		102,077
GlaxoSmithKline PLC	164,233		4,588,902
Great Portland Estates	3,771		34,867
Group 4 Securicor PLC	32,208		99,910
GUS PLC	24,878		444,402
Hammerson PLC	8,306		181,856
Hanson PLC	21,009		255,049
Hays PLC	44,196		110,332
HBOS PLC	108,527		1,886,468
HMV Group PLC	10,940		34,796
HSBC Holdings PLC	319,364		5,619,254
ICAP PLC	13,866		127,692


	Shares	Value
Common Stocks (Cont.)

United Kingdom (Cont.)
IMI PLC	11,221	$	103,594
Imperial Chemical Industries PLC	34,241		229,846
Imperial Tobacco Group PLC	20,004		617,386
Inchcape PLC	13,002		113,605
InterContinental Hotels Group PLC	11,109		194,232
International Power PLC (a)	42,307		222,576
Intertek Group PLC	4,333		56,088
Invensys PLC (a)	152,577		54,313
Invensys PLC Temp Line (a) (b)	61,030		21,556
Investec PLC	1,691		80,677
ITV PLC	116,811		233,287
Johnson Matthey PLC	6,371		156,337
Kelda Group PLC	10,762		152,343
Kesa Electricals PLC	15,494		82,803
Kingfisher PLC	66,462		293,120
Ladbrokes PLC	15,934		120,071
Land Securities Group PLC	13,452		446,265
Legal and General Group PLC	186,027		441,181
Liberty International PLC	7,551		148,709
Lloyds TSB Group PLC	158,732		1,560,097
LogicaCMG PLC	32,926		106,247
London Stock Exchange Group	5,385		113,321
Man Group PLC	8,406		396,071
Marks & Spencer Group PLC	47,053		510,751
Meggitt PLC	12,910		76,215
MFI Furniture Group PLC	17,686		35,321
Michael Page International PLC	8,733		56,602
Misys PLC	15,108		60,066
Mitchells & Butler	15,555		148,280
National Express Group PLC	4,162		68,344
National Grid PLC	76,998		832,950
Next PLC	7,223		217,983
Old Mutual PLC	148,981		449,747
PartyGaming PLC	19,596		41,854
Pearson PLC	22,945		312,496
Persimmon PLC	7,881		179,838
Premier Farnell PLC	9,371		30,715
Provident Financial PLC	7,546		85,817
Prudential PLC	68,400		772,825
Punch Taverns PLC	7,142		115,561
Rank Group PLC	17,010		62,753
Reckitt Benckiser PLC	17,332		647,417
Reed Elsevier PLC	36,492		368,446
Rentokil Intial PLC	51,130		147,497
Resolution PLC	5,582		69,159
Reuters Group PLC	38,818		276,362
Rexam PLC	16,028		156,494
Rio Tinto PLC	30,061		1,589,284
Rolls Royce Group (a)	48,901		374,371
Royal & Sun Alliance Insurance Group PLC	83,840		208,525
Royal Bank of Scotland Group	89,939		2,957,084
Royal Dutch Shell PLC Class A	111,147		3,740,701


	Shares	Value
Common Stocks (Cont.)

United Kingdom (Cont.)
Royal Dutch Shell PLC Class B	77,883	$	2,723,442
Sabmiller PLC	25,720		463,486
Sage Group PLC	35,706		152,359
Sainsbury	38,797		239,982
Schroders PLC	3,763		70,281
Scottish & Newcastle PLC	22,809		215,004
Scottish & Southern Energy PLC	24,329		517,826
Scottish Power PLC	42,092		453,787
Serco Group PLC	12,989		76,862
Severn Trent PLC	9,855		213,219
Signet Group PLC	48,078		85,350
Slough Estates PLC	12,529		141,676
Smith & Nephew PLC	26,701		205,649
Smiths Group PLC	15,985		263,375
Sportingbet PLC	10,532		76,637
SSL International PLC	5,753		31,623
Stagecoach Group	23,953		51,049
Tate & Lyle PLC	13,646		152,793
Taylor Woodrow PLC	16,699		103,138
Tesco PLC	222,548		1,374,529
The Berkeley Group Holdings PLC (a)	2,941		65,969
The Davis Service Group PLC	4,720		41,175
TI Automotive Ltd. (a) (b)	12,271		—
Tomkins PLC	22,763		121,124
Travis Perkins PLC	3,101		86,761
Trinity Mirror PLC	8,304		74,936
Unilever PLC	34,805		782,635
United Business Media PLC	7,938		95,046
United Utilities PLC	24,914		295,545
Vodafone Group PLC	1,709,728		3,643,777
Whitbread PLC	6,157		132,764
William Hill PLC	11,422		132,327
Wimpey (George) PLC	10,939		91,989
Wolseley PLC	17,036		375,830
WPP Group PLC	34,077		412,434
Xstrata PLC	12,604		477,800
Yell Group PLC	21,540		203,739

			77,042,677

Total Common Stocks
(cost $248,863,550)			318,253,707

Preferred Stocks (0.24%)
Germany (0.22%)
Henkel KGaA	1,703		194,646
Porsche AG PFD	223		215,567
ProSiebenSat.1 Media AG	2,408		60,151
RWE AG-Non Voting PFD	1,153		86,848
Volkswagen AG PFD	3,066		154,902

			712,114


	Shares or principal amount		Value
Preferred Stocks (Cont.)

Italy (0.02%)
Compagnia Assicuratrice Unipol SpA		25,461	$	74,087

Total Preferred Stocks
(cost $498,692)				786,201

Repurchase Agreement (0.18%)
Investors Bank & Trust Repurchase Agreement, (c) 4.250%, to be repurchased at $594,846 on 07/03/2006	$	594,635		594,635

Total Repurchase Agreement
(cost $594,635)				594,635

TOTAL INVESTMENTS (99.00%)
(cost $249,956,877)				319,634,543
CASH AND OTHER ASSETS, NET OF LIABILITIES (1.00%) (d)				3,220,140

NET ASSETS (100.0%)			$	322,854,683

(a)	Non-income producing security.

(b)	Security valued at fair value.

(c)	Repurchase agreement is fully collateralized by U.S. Treasury securities with a coupon rate of 3.375%, a maturity date of January 15, 2007 and a market value of $606,528 as of June 30, 2006.

(d)	At June 30, 2006 cash has been pledged to cover, in whole or in part, initial margin requirements for open futures contracts.

Approximately 32.61% of the investment securities are denominated in the Euro, followed by 24.45% in the Japanese Yen, 24.10% in the British Pound, 6.82% in the Swiss Franc, 5.26% in the Australian Dollar, 2.36% in the Swedish Krone and 1.64% in the Hong Kong Dollar. The remaining investment securities representing 2.76% of total investments, are denominated in five currencies, each of which represents less than 0.88% of total investments.

INTERNATIONAL EQUITY INDEX FUND SECTOR CLASSIFICATIONS


Sector	Value		%
Financials	$	93,471,959	28.95
Consumer Discretionary		37,961,748	11.76
Industrials		34,414,006	10.66
Materials		27,228,456	8.43
Energy		25,853,680	8.01
Health Care		24,704,899	7.65
Consumer Staples		24,239,553	7.51
Information Technology		18,307,602	5.67
Utilities		16,449,272	5.10
Telecommunication Services		16,408,733	5.08

Total Stocks		319,039,908	98.82
Repurchase Agreement		594,635	0.18
Cash and Other Assets, net of Liabilities		3,220,140	1.00

Net Assets	$	322,854,683	100.00	%


	Shares	Value
Registered Investment Companies (99.81%)
State Farm Variable Product Trust Bond Fund (38.53%) (a)	3,536,631	$	34,411,422
State Farm Variable Product Trust Large Cap Equity Index Fund (61.28%) (a)	4,222,961		54,729,576

Total Registered Investment Companies
(cost $88,872,168)			89,140,998

TOTAL INVESTMENTS (99.81%)
(cost $88,872,168)			89,140,998
OTHER ASSETS, NET OF LIABILITIES (0.19%)			166,372

NET ASSETS (100.00%)		$	89,307,370

(a)	The Stock and Bond Balanced Fund’s investment adviser is an affiliate of the issuer.


	Principal amount		Value
Corporate Bonds (69.37%)

Aerospace/Defense (1.09%)
TRW Inc.
6.730%, 07/11/2007	$	900,000	$	903,363
General Dynamics Corp.
3.000%, 05/15/2008		1,000,000		953,952

				1,857,315

Agriculture, Foods, & Beverage (6.39%)
Coca-Cola Enterprises Inc.
2.500%, 09/15/2006		1,000,000		993,694
Bottling Group LLC
2.450%, 10/16/2006		1,000,000		991,568
General Mills Inc.
5.125%, 02/15/2007		1,000,000		996,692
Dean Foods Co.
8.150%, 08/01/2007		1,000,000		1,010,000
Sara Lee Corp.
2.750%, 06/15/2008		1,000,000		942,736
Kraft Foods Inc.
4.125%, 11/12/2009		1,000,000		950,485
Campbell Soup Co.
6.750%, 02/15/2011		1,000,000		1,037,448
PepsiAmericas Inc.
5.625%, 05/31/2011		1,000,000		986,800
HJ Heinz Co.
6.625%, 07/15/2011		1,000,000		1,022,857
ConAgra Foods Inc.
6.750%, 09/15/2011		1,000,000		1,030,768
Kraft Foods Inc.
5.625%, 11/01/2011		1,000,000		984,975

				10,948,023

Automotive (3.36%)
Toyota Motor Credit
5.650%, 01/15/2007		1,000,000		1,000,131
General Motors Acceptance Corp.
6.150%, 04/05/2007		1,500,000		1,491,228
Ford Motor Credit Co.
4.950%, 01/15/2008		1,000,000		941,359
7.375%, 02/01/2011		1,000,000		895,418
Toyota Motor Credit Corp.
5.450%, 05/18/2011		500,000		497,268
Goodyear Tire & Rubber Co.
7.857%, 08/15/2011		1,000,000		927,500

				5,752,904

Banks (6.20%)
JPMorgan Chase & Co.
5.350%, 03/01/2007		1,000,000		997,959
Bank One Corp.
2.625%, 06/30/2008		1,000,000		943,985
Bank of New York
5.050%, 03/03/2009		500,000		491,003


	Principal amount		Value
Corporate Bonds (Cont.)

Banks (Cont.)
Wells Fargo & Co.
4.200%, 01/15/2010	$	1,000,000	$	955,620
Bank of America Corp.
4.250%, 10/01/2010		1,500,000		1,422,495
Wells Fargo & Co.
4.875%, 01/12/2011		500,000		484,434
Bank of New York
4.950%, 01/14/2011		1,000,000		972,465
Wachovia Corp.
5.350%, 03/15/2011		500,000		492,894
Charter One Bank FSB
5.500%, 04/26/2011		1,000,000		990,203
US Bank NA
4.950%, 10/30/2014		500,000		468,361
Fifth Third Bank
4.750%, 02/01/2015		500,000		457,733
Suntrust Banks Inc.
5.000%, 09/01/2015		500,000		469,617
Wachovia Bank NA
5.600%, 03/15/2016		500,000		484,798
Wells Fargo Bank NA
5.750%, 05/16/2016		500,000		491,794
Bank of America NA
6.000%, 06/15/2016		500,000		500,118

				10,623,479

Building Materials & Construction (1.94%)
York International Corp.
6.625%, 08/15/2006		1,000,000		1,000,642
Hanson Australia Funding
5.250%, 03/15/2013		1,000,000		945,424
Leggett & Platt Inc.
4.700%, 04/01/2013		1,000,000		927,667
Masco Corp.
4.800%, 06/15/2015		500,000		445,780

				3,319,513

Chemicals (3.45%)
Praxair Inc.
6.900%, 11/01/2006		1,000,000		1,004,170
The Dow Chemical Co.
5.750%, 12/15/2008		1,000,000		1,002,383
Great Lakes Chemical Corp.
7.000%, 07/15/2009		2,000,000		2,067,500
Air Products & Chemicals Inc.
4.125%, 12/01/2010		1,000,000		939,013
E.I. du Pont de Nemours and Co.
4.125%, 03/06/2013		1,000,000		903,583

				5,916,649


	Principal amount		Value
Corporate Bonds (Cont.)

Commercial Service/Supply (1.40%)
RR Donnelley & Sons Co.
3.750%, 04/01/2009	$	1,000,000	$	941,899
4.950%, 05/15/2010		500,000		480,249
First Data Corp.
4.500%, 06/15/2010		500,000		477,696
Dun & Bradstreet Corp.
5.500%, 03/15/2011		500,000		491,658

				2,391,502

Consumer & Marketing (4.60%)
Steelcase Inc.
6.375%, 11/15/2006		1,000,000		997,414
Newell Rubbermaid Inc.
4.625%, 12/15/2009		1,000,000		961,379
Unilever Capital Corp.
7.125%, 11/01/2010		1,000,000		1,049,952
Avon Products Inc.
5.125%, 01/15/2011		500,000		485,760
Clorox Co.
6.125%, 02/01/2011		1,000,000		1,012,431
Whirlpool Corp.
6.125%, 06/15/2011		1,000,000		994,307
Reed Elsevier Capital
4.625%, 06/15/2012		500,000		463,191
Kimberly-Clark Corp.
5.000%, 08/15/2013		1,000,000		963,874
The Procter & Gamble Co.
4.950%, 08/15/2014		1,000,000		951,081

				7,879,389

Electronic/Electrical Mfg. (1.44%)
Emerson Electric Co.
5.500%, 09/15/2008		500,000		498,863
5.750%, 11/01/2011		1,000,000		1,006,426
General Electric Co.
5.000%, 02/01/2013		1,000,000		957,839

				2,463,128

Financial Services (4.23%)
Citigroup Inc.
5.000%, 03/06/2007		1,000,000		995,693
Household Finance Corp.
4.125%, 11/16/2009		1,000,000		951,766
Citigroup Inc.
4.125%, 02/22/2010		500,000		475,369
SLM Corp.
4.500%, 07/26/2010		1,000,000		953,384
John Deere Capital Corp.
4.875%, 10/15/2010		1,000,000		968,723
American Express Credit
5.000%, 12/02/2010		1,000,000		974,997


	Principal amount		Value
Corporate Bonds (Cont.)

Financial Services (Cont.)
SLM Corp.
5.450%, 04/25/2011	$	500,000	$	491,349
HSBC Finance Corp.
5.700%, 06/01/2011		500,000		496,742
General Electric Capital Corp.
4.875%, 03/04/2015		500,000		468,458
Citigroup Inc.
5.300%, 01/07/2016		500,000		476,240

				7,252,721

Forest Products & Paper (1.44%)
International Paper Co.
7.875%, 08/01/2006		1,000,000		1,001,217
Weyerhaeuser Co.
6.125%, 03/15/2007		1,000,000		1,000,527
International Paper Co.
4.000%, 04/01/2010		500,000		467,808

				2,469,552

Health Care (7.26%)
GlaxoSmithKline
2.375%, 04/16/2007		1,000,000		974,123
Eli Lilly & Co.
2.900%, 03/15/2008		1,000,000		957,049
Bristol-Myers Squibb Co.
4.000%, 08/15/2008		1,000,000		967,540
Abbott Laboratories
5.400%, 09/15/2008		500,000		498,151
3.500%, 02/17/2009		500,000		475,229
Hillenbrand Industries
4.500%, 06/15/2009		1,000,000		966,429
Amgen Inc.
4.000%, 11/18/2009		1,000,000		950,557
Baxter FinCo BV
4.750%, 10/15/2010		1,000,000		960,879
Abbott Laboratories
5.600%, 05/15/2011		500,000		497,232
Merck & Co. Inc.
4.375%, 02/15/2013		1,000,000		916,649
Becton Dickinson & Co.
4.550%, 04/15/2013		1,000,000		931,988
Schering-Plough Corp.
5.550%, 12/01/2013		500,000		484,676
AstraZeneca PLC SP
5.400%, 06/01/2014		1,000,000		978,642
Boston Scientific Corp.
5.450%, 06/15/2014		1,000,000		930,968
Merck & Co. Inc.
4.750%, 03/01/2015		500,000		457,828


	Principal amount		Value
Corporate Bonds (Cont.)

Health Care (Cont.)
Abbott Laboratories
5.875%, 05/15/2016	$	500,000	$	495,716

				12,443,656

Machinery & Manufacturing (5.33%)
Cooper Industries Inc.
5.250%, 07/01/2007		1,000,000		990,960
Dover Corp.
6.250%, 06/01/2008		1,425,000		1,441,204
BF Goodrich Co.
6.600%, 05/15/2009		1,000,000		1,021,028
Honeywell International Inc.
7.500%, 03/01/2010		1,000,000		1,059,623
United Technologies Corp.
4.375%, 05/01/2010		1,500,000		1,436,157
Johnson Controls Inc.
5.250%, 01/15/2011		1,000,000		974,495
Caterpillar Inc.
6.550%, 05/01/2011		1,000,000		1,039,113
Bemis Co. Inc.
4.875%, 04/01/2012		500,000		474,098
Johnson Controls Inc.
4.875%, 09/15/2013		750,000		701,057

				9,137,735

Media & Broadcasting (2.30%)
The Walt Disney Co.
5.500%, 12/29/2006		1,000,000		1,000,072
New York Times Co.
4.500%, 03/15/2010		500,000		477,146
Gannett Co.
5.750%, 06/01/2011		1,000,000		984,443
Knight-Ridder Inc.
7.125%, 06/01/2011		1,000,000		1,023,275
New York Times Co.
5.000%, 03/15/2015		500,000		455,706

				3,940,642

Mining & Metals (2.20%)
Rio Tinto Finance USA Ltd.
2.625%, 09/30/2008		1,000,000		936,873
Alcan Inc.
6.450%, 03/15/2011		500,000		512,512
BHP Billiton Finance
4.800%, 04/15/2013		1,000,000		939,376
Barrick Gold Finance Inc.
4.875%, 11/15/2014		1,000,000		923,558
Alcan Inc.
5.000%, 06/01/2015		500,000		461,968

				3,774,287


	Principal amount		Value
Corporate Bonds (Cont.)

Oil & Gas (2.61%)
ChevronTexaco Capital Co.
3.500%, 09/17/2007	$	1,000,000	$	975,571
Shell International Finance
5.625%, 06/27/2011		1,500,000		1,500,294
Conoco Funding Co.
6.350%, 10/15/2011		1,000,000		1,028,822
National Fuel Gas Co.
5.250%, 03/01/2013		1,000,000		957,691

				4,462,378

Retailers (3.92%)
Wal-Mart Stores Inc.
5.450%, 08/01/2006		500,000		499,936
Safeway Inc.
4.125%, 11/01/2008		1,000,000		960,343
May Department Stores Co.
4.800%, 07/15/2009		1,000,000		972,510
CVS Corp.
4.000%, 09/15/2009		1,000,000		946,304
Home Depot Inc.
3.750%, 09/15/2009		1,000,000		948,312
Wal-Mart Stores Inc.
4.000%, 01/15/2010		500,000		475,292
Home Depot Inc.
4.625%, 08/15/2010		500,000		481,592
5.200%, 03/01/2011		500,000		490,881
Lowe’s Companies Inc.
5.000%, 10/15/2015		1,000,000		940,209

				6,715,379

Telecom & Telecom Equipment (4.27%)
Cingular Wireless
5.625%, 12/15/2006		1,000,000		1,000,016
Verizon Wireless
5.375%, 12/15/2006		1,000,000		998,898
SBC Communications Inc.
5.300%, 11/15/2010		1,000,000		975,660
Verizon Communications
5.350%, 02/15/2011		1,000,000		974,098
Cisco Systems Inc.
5.250%, 02/22/2011		1,000,000		981,452
Deutsche Telekom International Finance
5.375%, 03/23/2011		500,000		485,888
Vodafone Group PLC
5.500%, 06/15/2011		1,000,000		976,765
BellSouth Corp.
5.200%, 09/15/2014		1,000,000		930,408

				7,323,185


	Principal amount		Value
Corporate Bonds (Cont.)

Utilities & Energy (5.94%)
Virginia Electric & Power
5.375%, 02/01/2007	$	1,000,000	$	997,314
Georgia Power
4.875%, 07/15/2007		1,000,000		991,852
Pacificorp
4.300%, 09/15/2008		1,000,000		972,843
Atmos Energy Corp.
4.000%, 10/15/2009		1,000,000		943,209
Commonwealth Edison
4.740%, 08/15/2010		1,000,000		960,625
Southern California Gas
4.375%, 01/15/2011		1,000,000		947,405
Appalachian Power Co.
5.550%, 04/01/2011		500,000		491,598
Duke Energy Corp.
6.250%, 01/15/2012		500,000		508,609
Vectren Utility Holdings
5.250%, 08/01/2013		500,000		472,053
Union Electric Co.
5.500%, 05/15/2014		1,000,000		969,621
Carolina Power & Light
5.250%, 12/15/2015		1,000,000		942,435
Ohio Power Co.
6.000%, 06/01/2016		1,000,000		986,090

				10,183,654

Total Corporate Bonds
(cost $121,866,860)				118,855,091

Taxable Municipal Bonds (0.56%)
New Jersey State Turnpike Authority Transportation
2.840%, 01/01/2008		1,000,000		961,980

Total Taxable Municipal Bonds
(cost $1,000,000)				961,980

Government Agency Securities (10.92%) (a)
Federal Home Loan Mortgage Corp.
5.125%, 10/15/2008		4,000,000		3,971,904
6.625%, 09/15/2009		2,000,000		2,068,380
4.500%, 07/15/2013		1,500,000		1,411,922
5.200%, 03/05/2019		2,000,000		1,876,190
5.300%, 05/12/2020		2,000,000		1,836,658
Federal National Mortgage Association
7.125%, 03/15/2007		2,000,000		2,021,032
6.625%, 10/15/2007		2,000,000		2,026,988
3.250%, 08/15/2008		1,500,000		1,434,373
6.625%, 09/15/2009		2,000,000		2,067,696

Total Government Agency Securities
(cost $18,948,804)				18,715,143


	Shares or principal amount		Value
U.S. Treasury Obligations (16.83%)

U.S. Treasury Notes
7.000%, 07/15/2006	$	2,000,000	$	2,000,782
3.500%, 11/15/2006		5,000,000		4,968,165
6.625%, 05/15/2007		3,000,000		3,032,460
5.500%, 02/15/2008		2,000,000		2,010,468
5.625%, 05/15/2008		2,000,000		2,015,782
6.000%, 08/15/2009		3,000,000		3,074,883
6.500%, 02/15/2010		3,000,000		3,134,415
5.000%, 08/15/2011		3,000,000		2,990,976
4.000%, 11/15/2012		3,000,000		2,819,766
3.875%, 02/15/2013		3,000,000		2,792,577

Total U.S. Treasury Obligations
(cost $29,839,421)				28,840,274

Short-term Investments (1.10%)
JPMorgan Treasury Plus Money Market Fund		1,888,597		1,888,597

Total Short-term Investments
(cost $1,888,597)				1,888,597

TOTAL INVESTMENTS (98.78%)
(cost $173,543,682)				169,261,085
OTHER ASSETS, NET OF LIABILITIES (1.22%)				2,092,787

NET ASSETS (100.00%)			$	171,353,872

(a)	The obligations of certain U.S. Government-sponsored entities are neither issued nor guaranteed by the United States Treasury.


	Shares or principal amount		Value
Short-term Investments (100.13%)

Agriculture, Foods, & Beverage (4.86%)
Coca-Cola Co.
5.270%, 09/22/2006	$	2,299,000	$	2,271,067

Automotive (19.23%)
American Honda Finance Corp.
4.980%, 07/13/2006		2,200,000		2,196,348
FCAR Owner Trust Series I
5.040%, 07/14/2006		2,243,000		2,238,918
New Center Asset Trust
5.070%, 07/24/2006		2,254,000		2,246,699
Toyota Motor Credit Corp.
5.290%, 09/01/2006		2,328,000		2,306,790

				8,988,755

Financial Services (23.83%)
Caterpillar Financial Services Corp.
4.850%, 07/03/2006		640,000		639,828
Citigroup Funding
4.950%, 07/07/2006		2,236,000		2,234,155
HSBC Finance Corp.
4.980%, 07/10/2006		2,247,000		2,244,203
Chevron Funding Corp.
4.950%, 07/18/2006		1,200,000		1,197,195
4.990%, 07/18/2006		1,000,000		997,644
General Electric Capital Corp.
5.030%, 07/18/2006		2,240,000		2,234,679
Caterpillar Financial Services Corp.
5.150%, 07/31/2006		1,600,000		1,593,133

				11,140,837

Government Agency Securities (45.19%) (a)
Federal Home Loan Mortgage Corp.
4.920%, 08/08/2006		1,550,000		1,541,950
5.030%, 08/15/2006		2,500,000		2,484,281
5.230%, 08/25/2006		2,000,000		1,984,019
5.230%, 09/12/2006		2,494,000		2,467,551
Federal National Mortgage Association
4.820%, 07/05/2006		1,000,000		999,464
4.940%, 07/20/2006		1,000,000		997,393
4.960%, 08/11/2006		2,000,000		1,988,474
5.010%, 08/21/2006		2,250,000		2,234,031
5.060%, 08/30/2006		2,500,000		2,478,917
5.290%, 09/20/2006		4,000,000		3,952,525

				21,128,605

Registered Investment Companies (2.35%)
JPMorgan Treasury Plus Money Market Fund		1,098,533		1,098,533


	Principal amount		Value
Short-term Investments (Cont.)

Telecom & Telecom Equipment (4.67%)
BellSouth Corp.
5.190%, 08/22/2006	$	2,200,000	$	2,183,507

Total Short-term Investments
(cost $46,811,304)				46,811,304

TOTAL INVESTMENTS (100.13%)
(cost $46,811,304)				46,811,304
LIABILITIES, NET OF OTHER ASSETS (-0.13%)				(62,460	)

NET ASSETS (100.00%)			$	46,748,844

(a)	The obligations of certain U.S. Government-sponsored entities are neither issued nor guaranteed by the United States Treasury.

State Farm Variable Product Trust (the “Trust”) has nine separate investment portfolios (each a “Fund” and together, the “Funds”) as of June 30, 2006. Shares of each Fund are offered exclusively in connection with variable deferred annuity and variable universal life insurance policies issued by State Farm Life Insurance Company and State Farm Life and Accident Assurance Company. Each Fund is a separate investment portfolio with its own investment objective, investment policies, restrictions and attendant risks.

The Large Cap Equity Fund seeks long-term growth of capital. The Fund invests under normal circumstances at least 80% of its net assets plus any borrowing in common stocks and other equity securities of U.S. companies with market capitalizations of at least $1.5 billion.

The Small Cap Equity Fund seeks long-term growth of capital. The Fund invests under normal circumstances at least 80% of the value of its net assets plus any borrowing in equity securities of companies with relatively small market capitalizations located in the U.S. The companies in which the Fund invests typically have market capitalizations in the same range as found in the Russell 2000 Index^® (the “Russell 2000”)¹.

The International Equity Fund seeks long-term growth of capital. The Fund invests primarily in common stocks of companies located in Europe, Canada, Australia and the Far East. The Fund may also invest in companies located in other countries. There is no restriction on the size of the companies in which the Fund invests.

The Large Cap Equity Index Fund (Large Cap Index Fund) seeks to match the performance of the Standard and Poor’s Composite Index of 500 Stocks^® (the “S&P 500”)² by investing in the securities that make up the S&P 500. The S&P 500 tracks the common stock performance of 500 large U.S. companies.

The Small Cap Equity Index Fund (Small Cap Index Fund) seeks to match the performance of the Russell 2000. The Small Cap Index Fund invests primarily in some of the stocks found in the Russell 2000. The Russell 2000 tracks the common stock performance of about 2,000 small U.S. companies.

The International Equity Index Fund (International Index Fund) seeks to match the performance of the Morgan Stanley Capital International Europe, Australasia and Far East Free Index^® (the “EAFE Free”)³. The International Index Fund invests primarily in some of the stocks found in the EAFE Free. The EAFE Free is a capitalization-weighted index that currently includes stocks of companies in 16 European countries, Australia, New Zealand, Hong Kong, Japan and Singapore.

The Stock and Bond Balanced Fund (Balanced Fund) seeks long-term growth of capital, balanced with current income. The Balanced Fund invests in the Large Cap Index and Bond Funds of the Trust.

The Bond Fund seeks to realize over a period of years the highest yield consistent with prudent investment management through current income and capital gains. The Fund invests primarily in bonds issued by U.S. companies.

The Money Market Fund seeks to maximize current income to the extent consistent with the preservation of capital and maintenance of liquidity.

The following is a summary of significant accounting policies followed by the Funds in the preparation of their financial statements in accordance with U.S. generally accepted accounting principles (“GAAP”) in the United States.

Investments are stated at market value. Stocks traded on securities exchanges, or in an over-the-counter market in which transaction prices are reported, are valued at the last sales prices on the day of valuation or, if there are no reported sales on that day, at the last reported bid price for the day. Stocks traded on the NASDAQ Stock Market are valued at the NASDAQ Official Closing Price. Portfolio securities that are primarily traded on foreign securities exchanges are generally valued at the closing values of such securities on the respective exchanges where the security is primarily traded. Long-term debt securities and U.S. Treasury bills are generally valued using quotations provided by an independent pricing service. All of the securities and assets of the Money Market Fund and short-term debt securities with remaining maturities of 60 days or less (other than U.S. Treasury bills) held by any of the other Funds are generally valued on an amortized cost basis, which approximates market value. Investments in open-end investment companies are valued each day based on the closing net asset value of the respective fund. Futures contracts are valued at the settlement price established each day on the exchange on which they are traded. Forward foreign currency contracts are valued daily using quoted forward exchange rates. Short sales are valued at market value.

Securities not valued as described above, and securities for which market prices are not readily available or are considered unreliable, are fair valued pursuant to procedures established by the Trust’s Board of Trustees. Fair value, as a general principle, means the value the Fund might reasonably expect to receive upon sale of that security. These fair value procedures require State Farm Investment Management Corp. (“SFIMC”), the Trust’s investment adviser, to obtain bid price quotations from brokers or dealers in the securities or quotations from an independent pricing service for non-U.S. equity securities in certain circumstances. If SFIMC cannot obtain a quotation for the security or if SFIMC believes the quotation does not represent the security’s fair value, then SFIMC will determine the security’s fair value in its reasonable judgment.

In making a fair value judgment, SFIMC may use different methodologies, including multiple of earnings, multiple of book value, discount from market of a similar freely traded security or, for debt securities, yield to maturity. Other factors SFIMC may consider in determining fair value for a security include, but are not limited to, fundamental analytical data relating to the security, the nature and duration of any restrictions on disposition of the security, significant global or regional events such as political unrest, natural disasters, and war, and significant movements in major market indices, exchange traded funds, index futures or other financial instruments in the U.S. or other markets.

The Funds may enter into repurchase agreements with banks, brokers, dealers, and other financial institutions in accordance with a Fund’s investment restrictions. Repurchase agreements involve the purchase of securities with a simultaneous commitment to resell the securities to the seller at an agreed-upon price and date. A Fund will invest only in repurchase agreements collateralized in an amount at least equal to the repurchase price plus accrued interest. To the extent that the proceeds from any sale of such collateral upon a default in the obligation to repurchase were less than the repurchase price, the Fund would suffer a loss. If the financial institution which is the party to the repurchase agreement petitions for bankruptcy or otherwise becomes subject to bankruptcy or other liquidation proceedings, there may be restrictions on the ability to sell the collateral and the Fund could suffer a loss. Each Fund’s Schedule of Investments reflects the repurchase agreements, if any, entered into as of June 30, 2006.

For financial reporting purposes, security transactions are accounted for on trade date (date the order to buy or sell is executed). Dividend income is recorded on the ex-dividend date, except that certain dividends from foreign securities are recorded as soon as the information is available to the Funds. Interest income is recorded on the accrual basis and includes amortization of discounts and premiums on money market instruments and long-term debt instruments. Realized gains and losses from security transactions are reported on an identified cost basis.

Fund shares are sold and redeemed on a continuous basis at net asset value. Net asset value per share is determined daily on each day the New York Stock Exchange is open, except that a Fund need not compute a net asset value on any day when no purchase or redemption order has been received by the Fund. The net asset values are determined as of the close of regular session trading on the New York Stock Exchange (usually 3:00 p.m., Central Standard time). The net asset value per share is computed by dividing the total value of the Fund’s investments and other assets, less liabilities, by the number of Fund shares outstanding.

It is the Funds’ policy to comply with the special provisions of Subchapter M of the Internal Revenue Code applicable to investment companies and, in the manner provided therein, to distribute substantially all of their taxable income, including any net realized gain on sales of investments reportable for federal income tax purposes. The Funds intend to comply with this policy and, accordingly, no provision for federal income taxes has been made.

As of June 30, 2006, the Funds’ aggregate unrealized gains and losses on securities based on cost for federal income tax purposes were as follows:

Dividends and distributions payable to shareholders are recorded by the Large Cap Equity, Small Cap Equity, International Equity, Large Cap Index, Small Cap Index, International Index, and Balanced Funds on the ex-dividend date. The Bond and Money Market Funds declare daily dividends equal to each Fund’s respective net investment income, and distribute such amounts at the end of each calendar month.

Income and capital gain distributions are determined in accordance with income tax regulations, which may differ from GAAP. The differences are primarily due to differing treatments for futures contracts, the recognition of net realized losses, foreign currency transactions, and short term capital gains. The tax character of distributions for certain funds was as follows for the year ended December 31, 2005:

For the remaining funds, the tax distributions of ordinary income were the same as the distributions from net investment income reflected in the Statements of Changes in Net Assets for the year ended December 31, 2005. The tax character of distributions made during the six months ended June 30, 2006 were the same as the composition of distributions reflected in the Statements of Changes in Net Assets as of June 30, 2006.

The International Index Fund has elected to mark-to-market its investments in Passive Foreign Investment Companies (“PFICs”) for federal income tax purposes. In accordance with this election, the International Index Fund recognized unrealized appreciation (depreciation) of $706,309 and capital gains of $7,012 during 2005 as ordinary income for federal income tax purposes. The cumulative amount of mark-to-market adjustments recognized on PFICs at December 31, 2005, was $2,863,568.

The International Equity Fund has elected to mark-to-market its investments in PFICs for federal income tax purposes. In accordance with this election, the International Equity Fund recognized unrealized appreciation (depreciation) of $184,827, and capital gains of $1,149 during 2005, as ordinary income for federal income tax purposes. The cumulative amount of mark-to-market adjustments recognized on PFICs at December 31, 2005, was $184,827.

From November 1, 2005 through December 31, 2005, the International Equity and International Index Funds incurred $10,235 and $45,414 in foreign exchange losses, respectively. As permitted by tax regulations, the Funds intend to elect to defer these losses and treat them as arising on January 1, 2006.

At December 31, 2005, the following Funds had unused capital loss carryforwards available for federal income tax purposes to be applied against future capital gains, if any. If not applied, the carryforwards will expire as follows:

As of December 31, 2005, in accordance with federal tax regulations the components of distributable earnings on a tax basis were as follows:

Differences between these amounts and the undistributed net investment income reported on the Statements of Assets and Liabilities as of December 31, 2005 relate to current year estimates for return of capital from Real Estate Investment Trusts (“REITs”), accumulated capital losses, post-October loss deferrals, short term capital gains and mark-to-market of PFICs, and/or forward foreign currency and futures contract adjustments. The tax character of undistributed net investment income for the remaining Funds was the same as reflected in the Analysis of Net Assets as of December 31, 2005.

Investment securities and other assets and liabilities denominated in a foreign currency are translated into U.S. dollars at the prevailing foreign exchange rates at June 30, 2006. Purchases and sales of investment securities and income and expense items denominated in foreign currencies are translated into U.S. dollars at the prevailing foreign exchange rates on the respective dates of transactions. That portion of realized and unrealized gains and losses on investments that results from fluctuations in foreign currency exchange rates is not separately disclosed, but is included with realized and unrealized gains and losses on investment securities.

Expenses arising in connection with a specific Fund are allocated to that Fund. Common Trust expenses are generally allocated between the Funds in proportion to each Fund’s relative net assets.

The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates.

In the normal course of business, the Trust enters into contracts on behalf of the Funds that may contain provisions for general indemnifications. Each Fund’s maximum exposure under these indemnification provisions is unknown, as this would involve future claims that may be made against each Fund that are not known at this time. However, based on past experience, the Funds believe the risk of loss from these indemnification provisions is improbable.

The Large Cap Index, Small Cap Index, and International Index Funds, and, indirectly, the Balanced Fund, may enter into stock index futures contracts to gain exposure to market changes as this may be more efficient or cost effective than actually buying the securities. These contracts obligate a Fund to make or take delivery of a financial instrument or the cash value of a securities index at a specified future date at a specified price. Additionally, the International Equity and International Index Funds may enter into forward foreign currency contracts to purchase or sell foreign currencies. The Funds bear the market risk that arises from changes in the value of financial instruments and securities indices (futures contracts) or from changes in foreign currency rates (forward foreign currency contracts) and the credit risk should a counterparty fail to perform under such contracts.

The Large Cap Index, Small Cap Index, and International Index Funds and, indirectly, the Balanced Fund, may enter into short sale transactions to dispose of non-index securities received as a result of corporate actions such as mergers or spinoffs.

The Trust has entered into an investment advisory and management services agreement with SFIMC pursuant to which each Fund pays SFIMC an annual fee (computed on a daily basis and paid quarterly) at the following annual rates:

SFIMC has agreed not to be paid an investment advisory and management services fee for performing its services for the Balanced Fund and has agreed to reimburse any other expenses incurred by that Fund. This expense limitation arrangement is voluntary and may be eliminated by SFIMC at any time. However, SFIMC receives investment advisory fees from managing the underlying Funds in which the Balanced Fund invests.

With respect to each Fund, other than the Balanced, International Equity and International Index Funds, SFIMC has agreed to reimburse the expenses incurred by each Fund, other than the investment advisory and management services fee, that exceed 0.10% of such Fund’s average daily net assets. With respect to the International Equity and International Index Funds, SFIMC has agreed to reimburse the expenses incurred by these Funds, other than the investment advisory and management services fee, that exceed 0.20% of the Fund’s average daily net assets. These expense limitation arrangements are voluntary and may be eliminated by SFIMC at any time.

The Funds do not pay any direct or indirect discount, commission or other compensation for transfer agent services provided by SFIMC or for distribution and underwriting services provided by State Farm VP Management Corp.

SFIMC has engaged Capital Guardian Trust Company (“Capital Guardian”) as the investment sub-adviser to provide day-to-day portfolio management for the Large Cap Equity, Small Cap Equity, and International Equity Funds, and Barclays Global Fund Advisors (“Barclays”) as the investment sub-adviser to provide day-to-day portfolio management for the Large Cap Index, Small Cap Index and International Index Funds. In accordance with the overall investment objectives of each respective Fund, Capital Guardian and Barclays determine which securities to buy and sell for each of these Funds, selects the brokers and dealers to effect the transactions, and negotiates commissions.

During the six months ended June 30, 2006, the following fees were earned by Capital Guardian and Barclays for sub-advisory services (not all amounts earned were paid during the period):

Certain officers and/or trustees of the Trust are also officers and/or directors of SFIMC. The Trust made no payments to its officers or trustees except for trustees’ fees paid to or accrued for the Trust’s independent trustees and the Trust’s portion of the compensation paid to or accrued for the Trust’s Chief Compliance Officer.

The International Index Fund had no open forward foreign currency contracts at June 30, 2006.

The International Equity Fund had the following open forward foreign currency contracts at June 30, 2006:

The Large Cap Index, Small Cap Index and International Index Funds had the following open futures contracts at June 30, 2006:

The financial highlights table is intended to help you understand the financial performance of each Fund. Certain information reflects financial results for a single Fund share. The total returns in the table represent the rate that an investor would have earned (or lost) on an investment in the Fund (assuming reinvestment of all dividends and distributions).

State Farm VP Management Corp. (Underwriter and Distributor of Securities Products) One State Farm Plaza

State Farm Life and Accident Assurance Company (Licensed in NY and WI) Home Office, Bloomington, Illinois

State Farm VP Management Corp. (Underwriter and Distributor of Securities Products) One State Farm Plaza

The information required by this Item 6 is included as part of the report to shareholders under Item 1 of this Form N-CSR.

There were no material changes to the procedures by which shareholders may recommend nominees to the State Farm Variable Product Trust Board of Trustees.

(a) The registrant’s principal executive officer and principal financial officer evaluated the effectiveness of the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940 (the “Act”) (17 CFR 270.30a-3(c))) as of a date within 90 days of the filing date of this report (the “Evaluation Date”), and based on their evaluation as of the Evaluation Date of these controls and procedures as required by Rule 30a-3(b) under the Act (17 CFR 270.30a-3(b)) and Rules 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934 (17 CFR 240.13a-15(b) or 240.15d-15(b)) (as applicable), concluded that the registrant’s disclosure controls and procedures are effective.

(b) No change in the registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the Act (17 CFR 270.30a-3(d))) occurred during the second fiscal quarter of the period covered by this report 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.


	Beginning Account Value January 1, 2006	Ending Account Value June 30, 2006	Annualized Expense Ratio Based on the Period January 1, 2006 to June 30, 2006	Expenses Paid During Period January 1, 2006 to June 30, 2006²
Large Cap Equity Fund
Actual	$1,000.00	$1,040.66	0.70%	$3.54
Hypothetical (5% return before expenses)	1,000.00	1,021.32	0.70%	3.51
Small Cap Equity Fund
Actual	1,000.00	1,022.82	0.90%	4.51
Hypothetical (5% return before expenses)	1,000.00	1,020.33	0.90%	4.51
International Equity Fund
Actual	1,000.00	1,062.77	1.00%	5.11
Hypothetical (5% return before expenses)	1,000.00	1,019.84	1.00%	5.01
Large Cap Equity Index Fund
Actual	1,000.00	1,026.13	0.31%	1.56
Hypothetical (5% return before expenses)	1,000.00	1,023.26	0.31%	1.56
Small Cap Equity Index Fund
Actual	1,000.00	1,080.33	0.48%	2.48
Hypothetical (5% return before expenses)	1,000.00	1,022.41	0.48%	2.41
International Equity Index Fund
Actual	1,000.00	1,096.54	0.70%	3.64
Hypothetical (5% return before expenses)	1,000.00	1,021.32	0.70%	3.51


	Beginning Account Value January 1, 2006	Ending Account Value June 30, 2006	Annualized Expense Ratio Based on the Period January 1, 2006 to June 30, 2006	Expenses Paid During Period January 1, 2006 to June 30, 2006²
Stock and Bond Balanced Fund³
Actual	$1,000.00	$1,015.89	0.41%	$2.05
Hypothetical (5% return before expenses)	1,000.00	1,022.76	0.41%	2.06
Bond Fund
Actual	1,000.00	1,000.87	0.56%	2.78
Hypothetical (5% return before expenses)	1,000.00	1,022.02	0.56%	2.81
Money Market Fund
Actual	1,000.00	1,020.94	0.50%	2.51
Hypothetical (5% return before expenses)	1,000.00	1,022.32	0.50%	2.51


Message to Variable Product Customers		1

Portfolio Summary		2

Expense Example		5

Board Approval of Investment Advisory Agreements		7

Schedule of Investments

Large Cap Equity Fund		9

Small Cap Equity Fund		11

International Equity Fund		13

Large Cap Equity Index Fund		17

Small Cap Equity Index Fund		23

International Equity Index Fund		43

Stock and Bond Balanced Fund		56

Bond Fund		57

Money Market Fund		61

Financial Statements

Statements of Assets and Liabilities		62

Statements of Operations		64

Statements of Changes in Net Assets		66

Notes to Financial Statements		70

Financial Highlights		78


	Large Cap Equity Fund		Small Cap Equity Fund		International Equity Fund
Assets
Investments in securities
At identified cost	$	29,047,166	27,173,915		28,478,800

At market value	$	29,997,703	26,063,547		33,144,672
Cash		—	—		—
Foreign currencies at value (cost $49,401 and $2,424,820, respectively)		—	—		50,008
Receivable for:
Dividends and interest		52,107	22,715		54,496
Shares of the Fund sold		21,015	12,538		4,421
Securities sold		125,324	152,861		136,476
SFIMC		199	2,934		22,552
Unrealized gain on forward foreign currency contracts		—	—		1,992
Variation margin		—	—		—
Prepaid expenses		1,584	1,505		1,869

Total assets		30,197,932	26,256,100		33,416,486

Liabilities and Net Assets
Dividends to shareholders		—	—		—
Payable for:
Shares of the Fund redeemed		4	2		3
Securities purchased		—	109,000		136,635
Variation margin		—	—		—
Unrealized loss on forward foreign currency contracts		—	—		6,548
SFIMC		47,711	56,934		96,012
Chief Compliance Officer expense		32	30		36
Accrued liabilities		17,742	20,231		41,227

Total Liabilities		65,489	186,197		280,461

Net assets applicable to shares outstanding of common stock	$	30,132,443	26,069,903		33,136,025

Fund shares outstanding		2,802,282	2,643,530		2,681,234
Net asset value, offering price and redemption price per share	$	10.75	9.86		12.36

Analysis of Net Assets
Paid-in-capital	$	28,177,053	26,442,902		27,169,441
Accumulated net realized gain (loss)		742,723	732,732		1,093,533
Net unrealized appreciation (depreciation)		950,538	(1,110,368	)	4,661,999
Undistributed net investment income		262,129	4,637		211,052

Net assets applicable to shares outstanding	$	30,132,443	26,069,903		33,136,025


Large Cap Equity Index Fund	Small Cap Equity Index Fund	International Equity Index Fund	Stock and Bond Balanced Fund		Bond Fund		Money Market Fund


520,101,387	229,015,054	249,956,877	88,872,168		173,543,682		46,811,304

536,226,040	268,990,875	319,634,543	89,140,998		169,261,085		46,811,304
356	4,363	—	132,744		—		—
—	—	2,446,847	—		—		—

604,069	362,929	1,015,113	—		2,350,015		4,569
233,735	185,152	90,235	33,628		24,241		9,152
26	41,141,021	831,365	—		—		—
—	—	—	20,348		—		4,682
—	—	—	—		—		—
—	262,667	123,114	—		—		—
30,031	15,804	23,973	4,695		17,277		4,674

537,094,257	310,962,811	324,165,190	89,332,413		171,652,618		46,834,381


—	—	—	—		—		—

152,666	916	34,284	—		21,845		8,888
—	38,122,927	578,935	—		—		—
12,646	—	—	—		—		—
—	—	—	—		—		—
433,521	343,411	591,845	8,564		245,893		58,935
599	317	353	100		188		49
71,162	64,223	105,090	16,379		30,820		17,665

670,594	38,531,794	1,310,507	25,043		298,746		85,537

536,423,663	272,431,017	322,854,683	89,307,370		171,353,872		46,748,844

41,393,904	21,103,560	21,692,372	7,349,475		17,611,594		46,749,946
12.96	12.91	14.88	12.15		9.73		1.00


523,427,912	210,796,184	246,428,010	86,064,844		176,315,838		46,749,946
(7,475,680)	20,183,218	3,844,299	(52,683	)	(679,369	)	(1,102	)
16,113,484	40,190,037	69,832,429	268,829		(4,282,597	)	—
4,357,947	1,261,578	2,749,945	3,026,380		—		—

536,423,663	272,431,017	322,854,683	89,307,370		171,353,872		46,748,844


	Large Cap Equity Fund			Small Cap Equity Fund		International Equity Fund
Investment Income:
Dividends	$	333,317		94,858		481,977
Interest		28,345		27,328		17,453

		361,662		122,186		499,430
Less: foreign withholding taxes		(2,361	)	(870	)	(47,444	)

Total investment income		359,301		121,316		451,986
Expenses:
Investment advisory and management fees		86,067		105,331		128,048
Professional fees		11,781		13,163		26,875
Reports to shareholders		2,224		2,405		1,234
Custodian fees		1,861		4,295		35,940
Securities valuation fees		818		1,063		12,127
Errors & omissions insurance		537		516		553
Trustees’ fees and expenses		465		434		540
Regulatory fees		380		380		380
ICI dues		212		198		214
Fidelity bond expense		152		143		58
Chief Compliance Officer expense		144		131		158
License index fees		—		—		—

Total expenses		104,641		128,059		206,127
Less: expense reimbursement from Manager		(4,235	)	(9,562	)	(46,067	)

Net expenses		100,406		118,497		160,060

Net investment income		258,895		2,819		291,926
Realized and unrealized gain (loss):
Net realized gain (loss) on sales of investments		698,608		512,295		999,391
Net realized gain (loss) on forward foreign currency contracts		—		—		(4,793	)
Net realized gain (loss) on foreign currency transactions		—		—		3,575
Net realized gain (loss) on futures contracts		—		—		—
Change in unrealized gain (loss) on open futures contracts		—		—		—
Change in net unrealized appreciation (depreciation) on investments and foreign currency transactions		168,002		2,111		568,283

Net realized and unrealized gain (loss) on investments		866,610		514,406		1,566,456

Net change in net assets resulting from operations	$	1,125,505		517,225		1,858,382


	Large Cap Equity Fund
Six months ended June 30, 2006 (Unaudited) and the Year ended December 31, 2005	2006			2005 (a)
From operations:
Net investment income	$	258,895		189,622
Net realized gain (loss)		698,608		75,038
Change in net unrealized appreciation or depreciation		168,002		782,536

Net change in net assets resulting from operations		1,125,505		1,047,196
Distributions to shareholders from:
Net investment income		—		(186,165	)
Net realized gain		—		(31,146	)

Total distributions to shareholders		—		(217,311	)
From Fund share transactions:
Proceeds from shares sold		2,178,496		25,880,871
Reinvestment of distributions		—		217,311

		2,178,496		26,098,182
Less payments for shares redeemed		(49,865	)	(49,760	)

Net increase (decrease) in net assets from Fund share transactions		2,128,631		26,048,422

Total increase (decrease) in net assets		3,254,136		26,878,307

Net assets:
Beginning of year		26,878,307		—

End of year*	$	30,132,443		26,878,307

*Including undistributed (distribution in excess of) net investment income	$	262,129		3,457

Share Information
Sold		204,272		2,586,804
Issued in reinvestment of distributions		—		20,915
Redeemed		(4,689	)	(5,020	)

Net increase (decrease)		199,583		2,602,699


Stock and Bond Balanced Fund		Bond Fund		Money Market Fund
2006	2005	2006	2005	2006	2005

760,138	2,266,262	3,794,343	7,420,975	923,032	1,331,874
(52,619)	(64)	—	(166,544)	—	(1,102)
767,710	485,566	(3,583,638)	(5,538,599)	—	—

1,475,229	2,751,764	210,705	1,715,832	923,032	1,330,772

—	(2,058,064)	(3,794,343)	(7,420,975)	(923,032)	(1,331,874)
—	—	—	—	—	—

—	(2,058,064)	(3,794,343)	(7,420,975)	(923,032)	(1,331,874)

2,231,820	6,333,570	4,651,405	11,815,152	4,938,021	5,300,814
—	2,058,064	3,794,343	7,039,984	923,032	1,312,025

2,231,820	8,391,634	8,445,748	18,855,136	5,861,053	6,612,839
(3,460,956)	(4,059,549)	(3,322,321)	(20,192,834)	(3,017,835)	(18,594,617)

(1,229,136)	4,332,085	5,123,427	(1,337,698)	2,843,218	(11,981,778)

246,093	5,025,785	1,539,789	(7,042,841)	2,843,218	(11,982,880)


89,061,277	84,035,492	169,814,083	176,856,924	43,905,626	55,888,506

89,307,370	89,061,277	171,353,872	169,814,083	46,748,844	43,905,626

3,026,380	2,266,242	—	—	—	—


183,200	533,835	472,750	1,169,663	4,938,021	5,300,814
—	178,962	368,854	700,522	923,032	1,312,025
(283,319)	(341,862)	(338,640)	(1,997,067)	(3,017,835)	(18,594,617)

(100,119)	370,935	502,964	(126,882)	2,843,218	(11,981,778)


Fund	Cost of Investments for Federal Tax Purposes		Gross Unrealized Appreciation		Gross Unrealized (Depreciation)			Net Unrealized Appreciation (Depreciation)
Large Cap Equity Fund	$	29,047,166	$	1,786,353	$	(835,816	)	$	950,537
Small Cap Equity Fund		27,173,915		1,779,520		(2,889,888	)		(1,110,368	)
International Equity Fund		28,663,647		4,900,710		(419,685	)		4,481,025
Large Cap Index Fund		520,599,417		105,134,127		(89,507,504	)		15,626,623
Small Cap Index Fund		229,180,713		62,233,144		(22,422,982	)		39,810,162
International Index Fund		252,933,931		93,035,175		(26,334,563	)		66,700,612
Balanced Fund		88,872,169		1,582,650		(1,313,821	)		268,829
Bond Fund		173,543,682		753,905		(5,036,502	)		(4,282,597	)
Money Market Fund		46,811,304		—		—			—


Fund	Ordinary Income		Long-term Capital Gain		Total
Large Cap Equity Fund	$	217,311	$	—	$	217,311
Small Cap Equity Fund		117,495		—		117,495
International Equity Fund		241,049		—		241,049
Small Cap Index Fund		2,364,835		15,177,884		17,542,719


Expiration year	Large Cap Index Fund		Balanced Fund	Bond Fund	Money Market Fund
2010	$	9,006,652	—	—	—
2011	$	—	—	512,825	—
2012	$	—	—	—	—
2013	$	—	64	166,544	1,102

Total:	$	9,006,652	64	679,369	1,102


Fund	Undistributed ordinary income		Undistributed long-term gain		Unrealized appreciation/(depreciation)			Accumulated capital and other losses			Total
Large Cap Equity Fund	$	45,487	$	—	$	784,398		$	—		$	829,885
Small Cap Equity Fund		219,065		—		(1,109,289	)		—			(890,224	)
International Equity Fund		203,551		—		3,914,887			(10,236	)		4,108,202
Large Cap Index Fund		105,626		—		8,533,370			(9,006,652	)		(367,656	)
Small Cap Index Fund		150,110		938,463		40,290,843			—			41,379,416
International Index Fund		1,035,763		689,343		46,403,155			(45,414	)		48,082,847


Large Cap Equity Fund		0.60% of average daily net assets
Small Cap Equity Fund		0.80% of average daily net assets
International Equity Fund		0.80% of average daily net assets
Large Cap Index Fund		0.26% of average daily net assets
Small Cap Index Fund		0.40% of average daily net assets
International Index Fund		0.55% of average daily net assets
Balanced Fund		None
Bond Fund		0.50% of average daily net assets
Money Market Fund		0.40% of average daily net assets


	Advisory Fees
Capital Guardian
Large Cap Equity Fund	$	36,824
Small Cap Equity Fund		46,134
International Equity Fund		55,996

Total	$	138,954

Barclays
Large Cap Index Fund	$	211,942
Small Cap Index Fund		175,383
International Index Fund		293,476

Total	$	680,801


	Six months ended June 30, 2006 (Unaudited)		Year ended December 31, 2005
Large Cap Equity Fund
Purchases	$	8,255,387	$	28,401,700
Proceeds from sales		5,703,783		3,682,673
Small Cap Equity Fund
Purchases		8,076,796		28,827,116
Proceeds from sales		6,443,291		5,169,419
International Equity Fund
Purchases		4,792,111		27,465,333
Proceeds from sales		3,241,506		2,766,643
Large Cap Index Fund
Purchases		14,726,754		39,465,734
Proceeds from sales		9,905,180		19,451,792
Small Cap Index Fund
Purchases		38,729,597		41,459,333
Proceeds from sales		51,214,819		66,721,068
International Index Fund
Purchases		11,807,273		16,583,459
Proceeds from sales		7,029,511		6,614,963
Balanced Fund
Purchases		1,176,138		5,291,044
Proceeds from sales		1,585,000		894,000
Bond Fund
Purchases		18,452,736		26,876,457
Proceeds from sales		9,491,556		26,534,795


Foreign amount	Currency	Contracts	Settlement date	U.S. Dollar	Unrealized gain (loss)
168,668	Australian Dollar	1	07/21/2006	125,299	$	(640	)
78,044	British Pound	1	09/26/2006	144,620		1,659
156,072	Euro	3	07/03/2006-07/21/2006	199,745		(3,956	)
4,163,525	Japanese Yen	2	07/03/2006-07/05/2006	36,382		329
175,911	Swiss Franc	1	09/26/2006	144,909		(1,948	)

				Total	$	(4,556	)


Fund	Type	Number of contracts	Notional Value		Market Value		Position	Expiration month	Unrealized gain (loss)
Large Cap Index Fund	S&P 500 Index Mini	80	$	5,128,768	$	5,117,600	Long	September ‘06	$	(11,168	)

Small Cap Index Fund	Russell 2000 Index Mini	264		19,097,385		19,311,600	Long	September ‘06	$	214,215

International Index Fund	TOPIX Index	5		694,660		695,228	Long	September ‘06		568
International Index Fund	DJ Euro Stoxx 50	18		813,157		842,835	Long	September ‘06		29,678
International Index Fund	EMINI MSCI EAFE Index	16		1,396,410		1,473,680	Long	September ‘06		77,270
International Index Fund	FTSE 100 Index	6		630,808		646,418	Long	September ‘06		15,610

Total									$	123,126


	Six months ended June 30, 2006 (Unaudited)			From commencement of investment operations July 26, 2005 to December 31, 2005
Net asset value, beginning of period	$	10.33		10.00

Income from Investment Operations
Net investment income (a)		0.10		0.07
Net gain (loss) on investments (both realized and unrealized)		0.32		0.34

Total from investment operations		0.42		0.41

Less Distributions
Net investment income		—		(0.07	)
Net realized gain		—		(0.01	)

Total distributions		—		(0.08	)

Net asset value, end of period	$	10.75		10.33

Total Return (b)		4.07	%	4.14	%
Net assets, end of period (millions)	$	30.1		26.9
Ratios to average net assets assuming expense limitations
Expenses		0.70	%(c)	0.70	%(c)
Net investment income		1.80	%(c)	1.71	%(c)
Ratios to average net assets absent expense limitations
Expenses		0.73	%(c)	0.85	%(c)
Net investment income		1.77	%(c)	1.56	%(c)
Portfolio turnover rate		42	%(c)	15	%


	Six months ended June 30, 2006 (Unaudited)			Year ended December 31,
	Six months ended June 30, 2006 (Unaudited)			2005		2004		2003		2002		2001
Net asset value, beginning of period	$	12.63		12.26		11.27		8.89		11.62		13.36
Income from Investment Operations
Net investment income (a)		0.10		0.19		0.20		0.14		0.13		0.13
Net gain (loss) on investments (both realized and unrealized)		0.23		0.37		0.98		2.38		(2.73	)	(1.75	)

Total from investment operations		0.33		0.56		1.18		2.52		(2.60	)	(1.62	)

Less Distributions
Net investment income		—		(0.19	)	(0.19	)	(0.14	)	(0.13	)	(0.12	)
Net realized gain (b)		—		—		—		—		—		—

Total distributions		—		(0.19	)	(0.19	)	(0.14	)	(0.13	)	(0.12	)

Net asset value, end of period	$	12.96		12.63		12.26		11.27		8.89		11.62

Total Return		2.61	%(c)	4.57	%	10.46	%	28.31	%	(22.41	)%	(12.11	)%
Net assets, end of period (millions)	$	536.4		522.0		497.4		395.8		284.1		331.3
Ratios to average net assets
Expenses		0.31	%(d)	0.32	%	0.30	%	0.31	%	0.31	%	0.34	%
Net investment income		1.61	%(d)	1.57	%	1.73	%	1.47	%	1.31	%	1.07	%
Portfolio turnover rate		4	%(d)	4	%	3	%	1	%	3	%	1	%


	Six months ended June 30, 2006 (Unaudited)			Year ended December 31,
	Six months ended June 30, 2006 (Unaudited)			2005		2004		2003		2002		2001
Net asset value, beginning of period	$	11.96		11.87		11.30		9.82		11.34		12.22
Income from Investment Operations
Net investment income (a)		0.10		0.31		0.31		0.27		0.30		0.34
Net gain (loss) on investments (both realized and unrealized)		0.09		0.06		0.50		1.51		(1.49	)	(0.79	)

Total from investment operations		0.19		0.37		0.81		1.78		(1.19	)	(0.45	)

Less Distributions
Net investment income		—		(0.28	)	(0.23	)	(0.27	)	(0.29	)	(0.31	)
Net realized gain		—		—		(0.01	)	(0.03	)	(0.04	)	(0.12	)

Total distributions		—		(0.28	)	(0.24	)	(0.30	)	(0.33	)	(0.43	)

Net asset value, end of period	$	12.15		11.96		11.87		11.30		9.82		11.34

Total Return		1.59	%(b)	3.22	%	7.26	%	18.30	%	(10.51	)%	(3.55	)%
Net assets, end of period (millions)	$	89.3		89.1		84.0		70.3		55.1		58.4
Ratios to average net assets assuming expense limitations
Expenses		0.00	%(c)	0.00	%	0.00	%	0.00	%	0.00	%	0.00	%
Net investment income		1.70	%(c)	2.63	%	2.69	%	2.55	%	2.84	%	2.86	%
Ratios to average net assets absent expense limitations
Expenses		0.06	%(c)	0.08	%	0.05	%	0.06	%	0.05	%	0.08	%
Net investment income		1.64	%(c)	2.55	%	2.64	%	2.49	%	2.78	%	2.78	%
Portfolio turnover rate		3	%(c)	1	%	0	%	1	%	9	%	6	%


(a	)(1)	Not applicable.

(a	)(2)	A separate certification for each principal executive officer and principal financial officer of the registrant as required by Rule 30a-2(a) under the Act (17 CFR 270.30a-2(a)): Attached hereto as EX-99.CERT.

(a	)(3)	Not applicable.

(b	)	Certification of principal executive officer and principal financial officer required by Rule 30a-2(b) under the Act (17 CFR 270.30a-2(b)), Rule 13a-14(b) or Rule 15d-14(b) under the Securities Exchange Act of 1934 (17 CFR 240.13a-14(b) or 240.15d-14(b))(as applicable), and Section 1350 of Chapter 63 of Title 18 of the United States Code (18 U.S.C. 1350): Attached hereto as EX-99.906CERT.


State Farm Variable Product Trust

By		/s/ Edward B. Rust, Jr.
		Edward B. Rust, Jr. President



By		/s/ Michael L. Tipsord
		Michael L. Tipsord Senior Vice President and Treasurer