State Farm Variable Product Trust

Table of Contents


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		10

Small/Mid Cap Equity Fund		12

International Equity Fund		15

Large Cap Equity Index Fund		18

Small Cap Equity Index Fund		24

International Equity Index Fund		45

Stock and Bond Balanced Fund		57

Bond Fund		58

Money Market Fund		63

Financial Statements

Statements of Assets and Liabilities		64

Statements of Operations		66

Statements of Changes in Net Assets		68

Notes to Financial Statements		72

Financial Highlights		84

1-888-702-2307

State Farm VP Management Corp.

Securities Products Representatives are available

8:00 a.m. until 6:00 p.m. (Central Time)

Monday through Friday (except holidays)

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.

Not
FDIC
Insured

• May lose value

• No bank guarantee

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

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

This material must be accompanied or preceded by a prospectus.

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. Any website referenced in this report is an inactive textual reference only, and information contained in or otherwise accessible through that website does not form a part of, and is not incorporated by reference into, this report.

Thank you for purchasing a State Farm^® Variable Product. Enclosed is the Semi-Annual Report for the 6-month period ended June 30, 2009 for the State Farm Variable Product Trust. Included are financial statements and a complete list of the 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.

The market environment of the 6-month period of January 1, 2009 through June 30, 2009 was quite volatile.

With indicators pointing to a deepening economic recession, U.S. equity markets declined, with large cap stocks (as measured by the S&P 500^® Index¹) and small cap stocks (as measured by the Russell 2000^® Index²) falling -18.18% and -21.92%, respectively, during the 2-month period ended February 28, 2009. During this time period, stresses in the financial sector prompted regulators in the U.S. to take actions intended to boost capital levels and increase liquidity in an effort to stabilize the credit markets. The Federal Reserve responded to the financial crisis by maintaining an easing of monetary policy with the Fed Funds Rate remaining at a target range of 0% to 0.25% as of the end of June 2009.

U.S. equity markets staged a broad rebound over the 4-month period of March 1, 2009 through June 30, 2009, as investors reacted positively to actual earnings results that exceeded analyst expectations and to increasing optimism that government intervention would help stabilize the U.S. financial system. The S&P 500 Index produced a positive total return of 26.08% for the final four months of the reporting period, which led to a positive total return of 3.16% for the S&P 500 Index over the entire 6-month period ended June 30, 2009.

International equity markets, as represented by the MSCI All Country World Index (ACWI) ex-U.S. Index³, also struggled during the first two months of the reporting period ended February 28, 2009 declining -17.35%. International equity markets also rebounded, with the MSCI ACWI ex-U.S. Index posting a positive total return of 37.84% for the final four months of the reporting period, which led to a positive total return of 13.92% for the MSCI ACWI ex-U.S. Index over the entire 6-month period ended June 30, 2009.

Within the bond markets, U.S. Treasuries prices declined as yields increased across all maturities during the 6-month period ended June 30, 2009. The yield on 10-year U.S. Treasuries rose 107 basis points from 2.46% on January 2, 2009 to 3.53% on June 30, 2009. Short-term yields rose less dramatically with 3-month U.S. Treasury yields rising 11 basis points from 0.08% on January 2, 2009, to 0.19% on June 30, 2009⁴. Among major fixed-income indices, the Barclays Capital U.S. Government/Credit Intermediate Index⁵ posted a total return of 1.62% over the 6-month period ended June 30, 2009.

Look for detailed discussion of factors that impacted the performance of the underlying Funds during 2009 in the 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 as stated in the table for each fund.

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.

At a meeting of the Board of Trustees (the “Board”) of State Farm Variable Product Trust (“Variable Product Trust”) held on June 12, 2009, all of the Trustees present, including those Trustees present who were not interested persons of Variable Product 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 Variable Product Trust (the “Advisory Agreement”), (ii) to approve continuation of the Investment Sub-Advisory Agreement between SFIMC, Variable Product Trust, and Barclays Global Fund Advisors (“Barclays”) with respect to the Large Cap Equity Index Fund, the Small Cap Equity Index Fund and the International Equity Index Fund, which agreement will be referred to as the “Barclays Sub-Advisory Agreement,” (iii) to approve continuation of the Investment Sub-Advisory Agreement between SFIMC, Variable Product Trust and Westwood Management Corp. (“Westwood”) with respect to the Large Cap Equity Fund, which agreement will be referred to as the “Westwood Sub-Advisory Agreement,” (iv) to approve continuation of the Investment Sub-Advisory Agreement between SFIMC, Variable Product Trust and Marsico Capital Management, LLC (“Marsico”) with respect to the International Equity Fund, which agreement will be referred to as the “Marsico Sub-Advisory Agreement,” (v) to approve continuation of the Investment Sub-Advisory Agreement between SFIMC, Variable Product Trust and Northern Cross, LLC (“Northern Cross”) with respect to the International Equity Fund, which agreement will be referred to as the “Northern Cross Sub-Advisory Agreement,” (vi) to approve continuation of the Investment Sub-Advisory Agreement between SFIMC, Variable Product Trust and Bridgeway Capital Management, Inc. (“Bridgeway”) with respect to the Small/Mid Cap Equity Fund and the Large Cap Equity Fund, which agreement will be referred to as the “Bridgeway Sub-Advisory Agreement,” and (vii) to approve continuation of the Investment Sub-Advisory Agreement between SFIMC, Variable Product Trust and Rainier Investment Management, Inc. (“Rainier”) with respect to the Small/Mid Cap Equity Fund, which agreement will be referred to as the “Rainier Sub-Advisory Agreement.” Together the Barclays, Westwood, Marsico, Northern Cross, Bridgeway and Rainier Sub-Advisory Agreements will be referred to as the “Sub-Advisory Agreements.”

SFIMC and the Board have hired sub-advisers for six of Variable Product Trust’s nine separate series (each a “Fund” and together the “Funds”). Each sub-adviser is responsible for the day-to-day management of the investments or a portion of the investments of the applicable Fund. The six sub-advised Funds and their sub-advisers are listed below:

Prior to the June 12, 2009 meeting, independent legal counsel to the Independent Trustees had sent to Barclays, Westwood, Marsico, Northern Cross, Bridgeway and Rainier (collectively the “Sub-Advisers”) and to SFIMC a request for information to be provided to the Board in connection with the Board’s consideration of continuing the Sub-Advisory Agreements and the Advisory Agreement. The Sub-Advisers and SFIMC provided materials to the Board responding to those requests during the first quarter of the year. SFIMC subsequently 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. Prior to the June 12^th meeting, the Board also received a report prepared by Morningstar, Inc., an independent fund tracking organization (the “Morningstar Report”), relating to the performance and expenses of the Funds. In addition, the Board received and reviewed a memorandum from legal counsel to Variable Product Trust and its Independent Trustees regarding their responsibilities (particularly the Independent Trustees’ responsibilities) in considering the Advisory and Sub-Advisory Agreements.

The Independent Trustees of Variable Product Trust reviewed these materials at meetings held on March 13, 2009, and May 29, 2009, during which SFIMC management responded to specific questions from the Independent Trustees and provided follow-up information (as noted above). The Independent Trustees discussed all of this material extensively among themselves and with their independent legal counsel, and with the other Board members, after which the Board considered various factors described below, no one of which alone was considered dispositive. However, the material factors and conclusions that formed the basis for the Board’s determination to approve the agreements are discussed separately below.

The Board considered each Fund’s investment performance. Among other things, the Board examined the performance of each Fund over various time periods 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”) over the same time periods.

The Board considered that the performance of the Large Cap Equity Index Fund, the Small Cap Equity Index Fund and the International Equity Index Fund closely tracked the performance of these Funds’ benchmark indexes, excluding Fund expenses. The Board concluded that the performance of these three Funds over the periods reviewed was acceptable and closely tracked their respective benchmarks.

The Board considered the performance of the Large Cap Equity Fund, Small/Mid Cap Equity Fund and the International Equity Fund, including as compared to applicable benchmarks and to the performance of Peer Funds. The Board concluded that the performance of these three Funds over the periods reviewed was acceptable, especially with regard to the recent performance of the Large Cap Equity Fund and the International Equity Fund, which as of September 2, 2008, began receiving sub-advisory services from Westwood/Bridgeway and Marsico/Northern Cross, respectively.

The Board reviewed the performance of the Bond Fund, the Money Market Fund and the Stock and Bond Balanced Fund. The Board noted the favorable relative performance of the Bond Fund and the bond portion of the Stock and Bond Balanced Fund. The Morningstar Report indicated that the overall recent performance of those Funds was competitive with each Fund’s benchmark and/or index and with the performance of each Fund’s Peer Funds. After extensive discussion of this and other performance information, the Board concluded that the investment performance of these Funds over the periods reviewed was acceptable.

The Board examined the fee structure and expense ratio of each Fund, including in comparison to Peer Funds. SFIMC management explained that to maintain a stable $1.00/share net asset value for the Money Market Fund, SFIMC continued to waive fees it is entitled to receive from that Fund. SFIMC management also explained the extent of the services provided by the State Farm Life Insurance Companies to the Funds. The State Farm Life Insurance Companies sponsor the separate accounts into which the Funds are sold. The Board concluded that each Fund’s expense structure and overall fees were acceptable. 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 in providing advisory services to each Fund, as well as the methodology by which that profit was calculated. 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.

The Board examined the fee structure of the Sub-Advisory Agreements, including the breakpoints in fees that result when a Fund’s assets increase. SFIMC management indicated to the Board its belief that the sub-advisory fees were competitive in the marketplace. After considering this information, the Board concluded that the sub-advisory fees are reasonable and are in the best interests of the affected Funds’ shareholders.

The Board considered the nature, extent and quality of the advisory and sub-advisory services provided by SFIMC and the Sub-Advisers to the Funds. The Board considered the make-up, education and experience of the teams responsible for managing the Funds at each organization, and concluded that each organization’s investment management team has a satisfactory, long-term track record. After considering all of this information, the Board concluded that SFIMC and the Sub-Advisers 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, these organizations would be able to continue to provide satisfactory services to Variable Product Trust. The Board also considered the pending purchase of Barclays by Blackrock, Inc. and the possible consequences of that merger on the services that Barclays provides to the affected Funds. Finally, the Board considered the view of Variable Product Trust’s Chief Compliance Officer that the compliance policies and procedures of SFIMC and the Sub-Advisers were reasonably designed to prevent and detect violations of the federal securities laws.

Economies of scale for the benefit of Fund shareholders can occur when there are reductions in the levels of the investment advisory fee payable by the Fund as a Fund increases in size (an arrangement commonly known as “breakpoints”) or when a Fund’s fixed costs are spread over a larger asset base. Economies of scale for the benefit of Fund shareholders result in a decrease in a Fund’s expenses per unit, such as per dollar invested. Because SFIMC’s investment advisory fees charged to the Funds within Variable Product Trust currently do not include breakpoints and because SFIMC management currently does not anticipate a significant increase in the amount of assets of any Fund, economies of scale for the benefit of Fund shareholders was not a significant factor in the Board’s decision to approve continuation of the Advisory Contract or the Sub-Advisory Contracts. SFIMC management does not anticipate significant increases in the Funds’ assets because State Farm no longer is selling new variable insurance policies, the separate accounts of which invest in the Funds. Any potential future growth of Fund assets could result from market appreciation of existing Funds’ assets and/or existing State Farm variable insurance policyholders’ making additional or new contributions into those policies.

The Board next discussed whether SFIMC or a Sub-Adviser derives 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 these organizations (and each organization’s respective affiliates, if any) receive for providing various services to Variable Product Trust, particularly because these organizations 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 and the Sub-Advisers 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 and the Sub-Advisers, the Board, including all of the Independent Trustees present at the Board meeting, unanimously approved the:


	Shares	Value
Common Stocks (98.45%)
Consumer Discretionary (13.39%)
Advance Auto Parts Inc.	3,100	$	128,619
Amazon.com Inc. (a)	3,200		267,712
Apollo Group Inc. Class A (a)	1,400		99,568
AutoZone Inc. (a)	800		120,888
Comcast Corp. Class A	8,900		128,961
Discovery Communications Inc. Class A (a)	7,100		160,105
Dollar Tree Inc. (a)	3,100		130,510
Family Dollar Stores Inc.	4,500		127,350
GAP Inc.	10,300		168,920
ITT Educational Services Inc. (a)	1,400		140,924
McDonald’s Corp.	9,700		557,653
NIKE Inc. Class B	9,600		497,088
O’Reilly Automotive Inc. (a)	3,400		129,472
Priceline.com Inc. (a)	1,400		156,170
Ross Stores Inc.	3,400		131,240
The DIRECTV Group Inc. (a)	13,500		333,585
Thomson Reuters Corp.	3,900		114,309
TJX Companies Inc.	4,100		128,986

			3,522,060

Consumer Staples (6.84%)
Colgate-Palmolive Co.	4,800		339,552
CVS Caremark Corp.	14,600		465,302
Kraft Foods Inc. Class A	5,000		126,700
PepsiCo Inc.	2,200		120,912
Philip Morris International Inc.	7,600		331,512
The Coca-Cola Co.	2,600		124,774
Wal-Mart Stores Inc.	6,000		290,640

			1,799,392

Energy (13.20%)
Anadarko Petroleum Corp.	7,200		326,808
Apache Corp.	2,300		165,945
Cameron International Corp. (a)	4,300		121,690
Chevron Corp.	5,500		364,375
ConocoPhillips	7,200		302,832
CONSOL Energy Inc.	3,800		129,048
Devon Energy Corp.	2,700		147,150
Diamond Offshore Drilling Inc.	2,600		215,930
Exxon Mobil Corp.	7,400		517,334
Murphy Oil Corp.	3,600		195,552
National-Oilwell Varco Inc. (a)	3,300		107,778
Occidental Petroleum Corp.	4,900		322,469
Southwestern Energy Co. (a)	5,700		221,445
Transocean Ltd. (a)	2,600		193,154
XTO Energy Inc.	3,700		141,118

			3,472,628

Financials (10.31%)
ACE Ltd.	7,700		340,571
Aon Corp.	3,500		132,545


	Shares	Value
Common Stocks (Cont.)
Financials (Cont.)
BB&T Corp.	7,200	$	158,256
BlackRock Inc.	1,000		175,420
Charles Schwab Corp.	7,200		126,288
Hudson City Bancorp Inc.	18,300		243,207
JPMorgan Chase & Co.	11,600		395,676
New York Community Bancorp Inc.	10,400		111,176
PNC Financial Services Group Inc.	4,200		163,002
State Street Corp.	2,300		108,560
Travelers Companies Inc.	8,000		328,320
Wells Fargo & Co.	17,700		429,402

			2,712,423

Health Care (16.37%)
Allergan Inc.	2,800		133,224
Amgen Inc. (a)	3,800		201,172
Baxter International Inc.	2,200		116,512
Becton Dickinson & Co.	5,100		363,681
Biogen Idec Inc. (a)	3,700		167,055
Bristol-Myers Squibb Co.	12,300		249,813
Cerner Corp. (a)	2,900		180,641
Covidien Plc	9,000		336,960
CR Bard Inc.	1,600		119,120
Express Scripts Inc. (a)	3,800		261,250
Genzyme Corp. (a)	2,200		122,474
Gilead Sciences Inc. (a)	4,700		220,148
Johnson & Johnson	9,900		562,320
Life Technologies Corp. (a)	3,100		129,332
Medtronic Inc.	2,900		101,181
Mylan Inc. (a)	8,800		114,840
Myriad Genetics Inc. (a)	3,800		135,470
Myriad Pharmaceuticals Inc. (a)	950		4,418
St. Jude Medical Inc. (a)	8,000		328,800
Stryker Corp.	3,200		127,168
Wyeth	7,300		331,347

			4,306,926

Industrials (11.01%)
3M Co.	1,700		102,170
Burlington Northern Santa Fe Corp.	1,400		102,956
CH Robinson Worldwide Inc.	2,300		119,945
CSX Corp.	2,500		86,575
Deere & Co.	4,200		167,790
Dun & Bradstreet Corp.	1,500		121,815
Emerson Electric Co.	2,600		84,240
Fastenal Co.	3,300		109,461
First Solar Inc. (a)	1,600		259,392
ITT Corp.	7,700		342,650
Raytheon Co.	6,800		302,124
Union Pacific Corp.	11,400		593,484
United Technologies Corp.	7,200		374,112


	Shares	Value
Common Stocks (Cont.)
Industrials (Cont.)
WW Grainger Inc.	1,600	$	131,008

			2,897,722

Information Technology (19.11%)
Amphenol Corp. Class A	3,900		123,396
Apple Inc. (a)	2,200		313,346
CA Inc.	7,200		125,496
Cisco Systems Inc. (a)	25,300		471,592
eBay Inc. (a)	7,200		123,336
EMC Corp. (a)	25,100		328,810
FLIR Systems Inc. (a)	6,700		151,152
Google Inc. Class A (a)	650		274,033
Hewlett-Packard Co.	3,800		146,870
Intel Corp.	7,900		130,745
International Business Machines Corp.	6,500		678,730
Intuit Inc. (a)	4,900		137,984
Juniper Networks Inc. (a)	6,900		162,840
MasterCard Inc. Class A	2,700		451,737
Microsoft Corp.	20,000		475,400
Oracle Corp.	18,700		400,554
Research In Motion Ltd. (a)	2,000		142,100
Symantec Corp. (a)	16,600		258,296
Visa Inc. Class A Shares	2,100		130,746

			5,027,163

Materials (1.64%)
Ecolab Inc.	1,600		62,384
Potash Corporation of Saskatchewan Inc.	2,200		204,710
Praxair Inc.	2,300		163,461

			430,555

Telecommunication Services (2.21%)
AT&T Inc.	16,400		407,376
Verizon Communications Inc.	5,700		175,161

			582,537

Utilities (4.37%)
Dominion Resources Inc.	10,100		337,542
Exelon Corp.	6,500		332,865
FPL Group Inc.	3,000		170,580
PG&E Corp.	8,000		307,520

			1,148,507

Total Common Stocks
(cost $29,040,947)			25,899,913


	Shares	Value
Common Stocks (98.89%)
Consumer Discretionary (15.63%)
Advance Auto Parts Inc.	1,765	$	73,230
American Eagle Outfitters Inc.	10,720		151,902
Bally Technologies Inc. (a)	1,015		30,369
Belo Corp. Class A	46,600		83,414
Best Buy Company Inc.	3,290		110,182
Big Lots Inc. (a)	3,020		63,511
BorgWarner Inc.	2,940		100,342
Carrols Restaurant Group Inc. (a)	18,500		123,210
CEC Entertainment Inc. (a)	5,800		170,984
Coach Inc.	3,120		83,866
Copart Inc. (a)	2,465		85,462
Darden Restaurants Inc.	4,675		154,181
Fred’s Inc. Class A	9,100		114,660
FTI Consulting Inc. (a)	3,830		194,258
GameStop Corp. Class A (a)	4,035		88,810
Guess? Inc.	3,100		79,918
Hawk Corp. Class A (a)	8,900		123,265
Jarden Corp. (a)	6,010		112,687
Kirkland’s Inc. (a)	23,700		284,637
Kohl’s Corp. (a)	1,860		79,515
LKQ Corp. (a)	3,675		60,454
LodgeNet Interactive Corp. (a)	23,200		78,880
Macy’s Inc.	11,900		139,944
Mediacom Communications Corp. Class A (a)	22,000		112,420
NIKE Inc. Class B	2,925		151,456
O’Reilly Automotive Inc. (a)	1,950		74,256
Polaris Industries Inc.	4,800		154,176
Sinclair Broadcast Group Inc. Class A	5,000		9,700
Spartan Motors Inc.	26,100		295,713
Starbucks Corp. (a)	3,055		42,434
The Finish Line Inc. Class A	18,600		138,012
Urban Outfitters Inc. (a)	4,810		100,385
Warnaco Group Inc. (a)	11,400		369,360

			4,035,593

Consumer Staples (4.68%)
Avon Products Inc.	5,035		129,802
Casey’s General Stores Inc.	3,300		84,777
Central Garden & Pet Co. (a)	18,000		197,820
Church & Dwight Co. Inc.	2,670		145,008
Energizer Holdings Inc. (a)	2,040		106,570
Flowers Foods Inc.	6,380		139,339
J.M. Smucker Co.	3,015		146,710
Pantry Inc. (a)	7,600		126,160
Ralcorp Holdings Inc. (a)	2,170		132,196

			1,208,382

Energy (13.08%)
Atwood Oceanics Inc. (a)	6,200		154,442
Boots & Coots Inc. (a)	139,181		193,462
Concho Resources Inc. (a)	6,565		188,350


	Shares	Value
Common Stocks (Cont.)
Energy (Cont.)
Dawson Geophysical Co. (a)	7,300	$	217,905
Devon Energy Corp.	4,000		218,000
Dresser-Rand Group Inc. (a)	9,460		246,906
General Maritime Corp.	6,500		64,285
GulfMark Offshore Inc. (a)	4,600		126,960
Hornbeck Offshore Services Inc. (a)	13,700		293,043
Mariner Energy Inc. (a)	3,420		40,185
Mitcham Industries Inc. (a)	31,400		162,966
Natural Gas Services Group (a)	11,600		154,280
Quicksilver Resources Inc. (a)	7,180		66,702
Rosetta Resources Inc. (a)	27,600		241,500
Southwestern Energy Co. (a)	2,010		78,088
Tidewater Inc.	3,000		128,610
Transocean Ltd. (a)	4,440		329,848
Vanguard Natural Resources LLC	12,200		166,774
Weatherford International Ltd. (a)	5,030		98,387
Western Refining Inc. (a)	10,500		74,130
World Fuel Services Corp.	3,200		131,936

			3,376,759

Financials (17.55%)
ACE Ltd.	4,740		209,650
Affiliated Managers Group Inc. (a)	3,680		214,139
Alliance Data Systems Corp. (a)	2,880		118,627
American Financial Group Inc.	4,200		90,636
American Physicians Capital Inc.	5,100		199,716
Amerisafe Inc. (a)	18,500		287,860
Annaly Capital Management Inc.	14,025		212,339
Arch Capital Group Ltd. (a)	1,395		81,719
BioMed Realty Trust Inc.	10,930		111,814
CB Richard Ellis Group Inc. Class A (a)	23,400		219,024
Charles Schwab Corp.	3,980		69,809
Digital Realty Trust Inc.	10,475		375,529
First Potomac Realty Trust	6,600		64,350
Fortress Investment Group LLC Class A (a)	32,800		112,176
Great Southern Bancorp Inc.	1,415		29,078
Guaranty Bancorp (a)	40,300		76,973
Horace Mann Educators Corp.	13,000		129,610
Invesco Ltd.	6,590		117,434
Kilroy Realty Corp.	3,200		65,728
Knight Capital Group Inc. Class A (a)	11,300		192,665
Mack-Cali Realty Corp.	3,830		87,324
MasterCard Inc. Class A	270		45,174
Meadowbrook Insurance Group Inc.	15,900		103,827
MSCI Inc. Class A (a)	3,820		93,361
National Interstate Corp.	3,400		51,612
Nelnet Inc. Class A (a)	11,300		153,567
Northern Trust Corp.	3,230		173,386
Peoples Bancorp Inc.	6,400		109,120
Prospect Capital Corp.	10,600		97,520
SEI Investments Co.	3,960		71,438


	Shares	Value
Common Stocks (Cont.)
Financials (Cont.)
State Street Corp.	2,170	$	102,424
Tower Group Inc.	5,300		131,334
Unitrin Inc.	7,300		87,746
Weingarten Realty Investors	9,021		130,895
World Acceptance Corp. (a)	5,800		115,478

			4,533,082

Health Care (10.95%)
Aetna Inc.	1,750		43,838
Alexion Pharmaceuticals Inc. (a)	1,410		57,979
Allergan Inc.	2,075		98,728
Allion Healthcare Inc. (a)	7,500		44,625
AMERIGROUP Corp. (a)	6,400		171,840
Celgene Corp. (a)	1,800		86,112
Cephalon Inc. (a)	2,700		152,955
Covance Inc. (a)	1,590		78,228
Cyberonics Inc. (a)	10,000		166,300
Emergency Medical Services Corp. Class A (a)	3,800		139,916
Endo Pharmaceuticals Holdings Inc. (a)	5,175		92,736
Express Scripts Inc. (a)	1,700		116,875
Gentiva Health Services Inc. (a)	4,200		69,132
Healthspring Inc. (a)	12,700		137,922
Hologic Inc. (a)	5,269		74,978
Immucor Inc. (a)	5,905		81,253
Inverness Medical Innovations Inc. (a)	3,040		108,163
Life Technologies Corp. (a)	10,150		423,458
Mettler-Toledo International Inc. (a)	1,510		116,496
Mylan Inc. (a)	4,790		62,510
Psychiatric Solutions Inc. (a)	2,405		54,690
QIAGEN NV (a)	6,850		127,341
RehabCare Group Inc. (a)	5,700		136,401
ResMed Inc. (a)	1,180		48,061
St. Jude Medical Inc. (a)	1,350		55,485
United Therapeutics Corp. (a)	990		82,497

			2,828,519

Industrials (10.80%)
AMETEK Inc.	5,575		192,784
Apogee Enterprises Inc.	9,300		114,390
Bucyrus International Inc.	1,565		44,696
Chart Industries Inc. (a)	17,100		310,878
Delta Air Lines Inc. (a)	9,920		57,437
EMCOR Group Inc. (a)	6,100		122,732
Expeditors International of Washington Inc.	2,330		77,682
Flowserve Corp.	1,980		138,224
Foster Wheeler AG (a)	3,005		71,369
General Cable Corp. (a)	1,870		70,275
Hawaiian Holdings Inc. (a)	4,000		24,080
Iron Mountain Inc. (a)	3,070		88,263
Knoll Inc.	9,200		69,736


	Shares	Value
Common Stocks (Cont.)
Industrials (Cont.)
Masco Corp.	6,040	$	57,863
MasTec Inc. (a)	11,800		138,296
Pike Electric Corp. (a)	4,600		55,430
Polypore International Inc. (a)	16,600		184,592
Precision Castparts Corp.	2,775		202,658
Republic Airways Holdings Inc. (a)	13,600		88,808
Republic Services Inc.	2,940		71,765
RR Donnelley & Sons Co.	9,700		112,714
TAL International Group Inc.	9,600		104,640
Triumph Group Inc.	2,800		112,000
Tutor Perini Corp. (a)	5,400		93,744
Valmont Industries Inc.	540		38,923
VSE Corp.	3,700		96,792
Wabtec Corp.	1,465		47,129

			2,787,900

Information Technology (13.17%)
3Com Corp. (a)	26,800		126,228
Activision Blizzard Inc. (a)	8,535		107,797
Acxiom Corp.	12,900		113,907
Amphenol Corp. Class A	3,175		100,457
ANSYS Inc. (a)	1,525		47,519
Broadcom Corp. Class A (a)	7,385		183,074
Brocade Communications Systems Inc. (a)	8,670		67,799
Check Point Software Technologies Ltd. (a)	4,785		112,304
Citrix Systems Inc. (a)	3,240		103,324
Cognizant Technology Solutions Corp. (a)	5,600		149,520
CSG Systems International Inc. (a)	7,600		100,624
EarthLink Inc. (a)	21,800		161,538
F5 Networks Inc. (a)	2,170		75,060
Fiserv Inc. (a)	990		45,243
FLIR Systems Inc. (a)	4,100		92,496
GSI Technology Inc. (a)	29,400		113,484
Hewitt Associates Inc. Class A (a)	6,225		185,380
Intersil Corp.	7,775		97,732
Juniper Networks Inc. (a)	2,700		63,720
Marvell Technology Group Ltd. (a)	8,295		96,554
McAfee Inc. (a)	2,535		106,952
MICROS Systems Inc. (a)	3,520		89,126
Multi-Fineline Electronix Inc. (a)	8,200		175,480
NetApp Inc. (a)	2,880		56,794
Nuance Communications Inc. (a)	13,520		163,457
Silicon Laboratories Inc. (a)	3,975		150,811
SYNNEX Corp. (a)	9,500		237,405
Trimble Navigation Ltd. (a)	2,900		56,927
United Online Inc.	19,001		123,697
UTStarcom Inc. (a)	58,800		95,844

			3,400,253


	Shares	Value
Common Stocks (Cont.)
Materials (8.68%)
Airgas Inc.	4,450	$	180,358
Bway Holding Co. (a)	13,400		234,902
Cliffs Natural Resources Inc.	4,010		98,125
Crown Holdings Inc. (a)	9,250		223,295
Glatfelter	16,500		146,850
Greif Inc.	5,280		233,482
Innophos Holdings Inc.	7,900		133,431
LSB Industries Inc. (a)	10,300		166,551
Rock-Tenn Co. Class A	7,000		267,120
Silver Wheaton Corp. (a)	8,150		67,156
SPX Corp.	3,650		178,740
Temple-Inland Inc.	10,300		135,136
US Gold Corp. (a)	27,200		71,808
Valspar Corp.	4,620		104,089

			2,241,043

Telecommunications (0.85%)
American Tower Corp. Class A (a)	3,820		120,445
Telephone and Data Systems Inc.	3,500		99,050

			219,495

Utilities (3.50%)
AES Corp. (a)	21,530		249,963
Allegheny Energy Inc.	2,445		62,714
Aqua America Inc.	7,720		138,188
ITC Holdings Corp.	5,305		240,635
Nicor Inc.	2,000		69,240
NorthWestern Corp.	6,300		143,388

			904,128

Total Common Stocks
(cost $26,592,457)			25,535,154

Short-term Investments (2.99%)
JPMorgan U.S. Government Money Market Fund	772,017		772,017

Total Short-term Investments
(cost $772,017)			772,017

TOTAL INVESTMENTS (101.88%)
(cost $27,364,474)			26,307,171
LIABILITIES, NET OF OTHER ASSETS (-1.88%)			(485,950	)

NET ASSETS (100.00%)		$	25,821,221

(a)	Non-income producing security.


	Shares	Value
Common Stocks (90.23%) (a)
Australia (2.32%)
BHP Billiton PLC	12,700	$	286,241
CSL Ltd.	14,116		364,985

			651,226

Austria (0.27%)
Erste Group Bank AG	2,742		74,440

Belgium (2.46%)
Anheuser-Busch InBev NV	19,043		690,487

Brazil (4.91%)
Gafisa SA	15,500		127,749
Itau Unibanco Banco Multiplo SA ADR	36,791		582,402
Petroleo Brasileiro SA	9,799		401,563
Redecard SA	3,389		51,886
Vale SA Sponsored ADR	12,100		213,323

			1,376,923

Canada (2.49%)
Cameco Corp.	8,051		206,106
Petro-Canada	1,743		67,313
Potash Corp of Saskatchewan Inc.	3,445		320,557
Suncor Energy Inc.	3,378		102,721

			696,697

China (0.56%)
Industrial and Commercial Bank of China Ltd. Class H	227,000		157,240

Denmark (4.18%)
A P Moller-Maersk A/S Class B	25		149,789
Novo Nordisk A/S Class B	7,000		381,257
Vestas Wind Systems A/S (b)	8,917		639,925

			1,170,971

France (10.89%)
Accor SA	7,311		291,286
Alstom SA	3,037		180,326
AXA	11,753		222,447
BNP Paribas	9,669		630,537
Compagnie de Saint-Gobain	6,557		220,627
Compagnie Generale des Etablissements Michelin Class B	3,266		187,049
Groupe DANONE	2,802		138,936
JC Decaux SA (b)	6,500		103,297
L’Oreal SA	2,200		165,139
Pernod Ricard SA	3,823		241,702
Schneider Electric SA	2,562		196,090
Total SA	4,200		227,642
Veolia Environnement	8,299		245,373

			3,050,451


	Shares	Value
Common Stocks (Cont.)
Germany (2.36%)
Bayerische Motoren Werke (BMW) AG	3,551	$	134,139
Daimler AG Registered Shares	4,714		171,191
Hochtief AG	1,502		75,848
Linde AG	3,400		279,319

			660,497

Hong Kong (5.36%)
Cathay Pacific Airways Ltd.	82,000		112,493
Cheung Kong Holdings Ltd.	43,000		491,667
China Life Insurance Co. Ltd. H	51,000		187,435
China Mobile Ltd.	18,000		180,223
China Petroleum and Chemical Corp. (Sinopec) H	218,000		165,052
CNOOC Ltd.	116,000		142,895
Esprit Holdings Ltd.	28,800		160,008
Hang Lung Properties Ltd.	19,000		62,568

			1,502,341

India (0.81%)
ICICI Bank Ltd. Sponsored ADR	7,004		206,618
Reliance Industries Ltd. Sponsored GDR (b) (c)	250		20,750

			227,368

Ireland (0.29%)
CRH PLC	3,535		81,249

Israel (1.28%)
Teva Pharmaceutical Industries Ltd. Sponsored ADR	7,283		359,343

Italy (0.59%)
Eni SpA	7,000		166,019

Japan (7.60%)
Daikin Industries Ltd.	4,600		148,044
Daiwa Securities Group Inc.	44,000		261,457
Fanuc Ltd.	3,800		304,518
Honda Motor Co. Ltd.	9,000		247,598
Japan Tobacco Inc.	80		250,067
Marubeni Corp.	64,000		283,058
Mizuho Financial Group Inc.	140,400		326,196
Shiseido Co. Ltd.	10,000		163,596
Sumitomo Realty & Development Co. Ltd.	8,000		146,070

			2,130,604

Malaysia (1.25%)
Genting Berhad	98,400		157,669
Sime Darby Berhad	98,000		193,327

			350,996


	Shares	Value
Common Stocks (Cont.)
Mexico (1.53%)
Cemex SAB de C.V. Participant Certificate Sponsored ADR (b)	45,785	$	427,632

Netherlands (1.40%)
ASML Holding NV- NY Reg.	9,601		208,101
Royal Dutch Shell PLC Class A	7,312		183,217

			391,318

Norway (0.67%)
Norsk Hydro ASA (b)	16,200		83,472
StatoilHydro ASA	5,300		104,692

			188,164

Singapore (3.84%)
Capital and Ltd.	110,500		280,951
DBS Group Holdings Ltd.	48,176		390,570
Keppel Corp. Ltd.	38,000		180,125
Singapore Airlines Ltd.	9,000		82,397
United Overseas Bank Ltd.	14,000		141,271

			1,075,314

South Africa (0.58%)
AngloGold Ashanti Ltd. Sponsored ADR	4,400		161,172

South Korea (0.25%)
Hyundai Motor Co.	1,214		70,216

Spain (4.14%)
Banco Bilbao Vizcaya Argentaria SA	12,449		156,751
Gamesa Corp Tecnologica SA	16,290		310,570
Telefonica SA	30,472		692,005

			1,159,326

Sweden (1.78%)
Atlas Copco AB Class A	24,900		250,723
Hennes & Mauritz AB (H&M) B Shares	1,412		70,507
Investor AB B Shares	9,000		139,163
Sandvik AB	5,000		37,267

			497,660

Switzerland (13.79%)
ABB Ltd. Reg. (b)	29,201		461,104
Actelion Ltd. Reg. (b)	2,391		125,322
Compagnie Financiere Richemont SA Class A	3,718		77,514
Credit Suisse Group AG Reg.	12,958		593,684
Holcim Ltd. (b)	3,675		209,233
Julius Baer Holding AG Reg.	4,961		192,944
Lonza Group AG Reg.	3,612		359,313
Nestle SA	16,621		627,583
Novartis AG	2,400		97,697
Roche Holding AG	1,700		231,629


	Shares	Value
Common Stocks (Cont.)
Switzerland (Cont.)
Syngenta AG Reg.	1,016	$	236,389
Transocean Ltd. (b)	6,556		487,045
UBS AG Reg. (Virt-x) (b)	13,300		163,303

			3,862,760

Taiwan (2.21%)
Taiwan Semiconductor Manufacturing Co. Ltd. Sponsored ADR	65,810		619,272

United Kingdom (12.17%)
Anglo American PLC	9,400		274,848
BG Group PLC	21,242		357,709
BP PLC	84,733		669,545
British American Tobacco PLC	5,968		164,742
Cadbury PLC	22,365		191,169
Diageo PLC	17,499		251,341
Imperial Tobacco Group PLC	5,313		138,284
Lloyds TSB Group PLC	67,138		77,396
Reckitt Benckiser Group PLC	3,315		151,389
Standard Chartered PLC	14,467		272,024
Tesco PLC	25,863		151,036
Vodafone Group PLC	244,512		475,562
Xstrata PLC	21,666		235,472

			3,410,517

United States (0.25%)
NII Holdings Inc. (b)	3,662		69,834

Total Common Stocks
(cost $29,896,100)			25,280,037

Preferred Stocks (4.36%) (a)
Brazil (4.36%)
Banco Bradesco SA Pfd.	21,600		317,469
Companhia Vale do Rio Doce Pfd. A	12,000		184,333
Petroleo Brasileiro SA Pfd.	33,400		554,990
Suzano Papel e Celulose SA (b)	21,800		166,768

			1,223,560

Total Preferred Stocks
(cost $1,706,571)			1,223,560


	Prinicpal amount		Value
Repurchase Agreement (5.72%)
State Street Bank & Trust Repurchase Agreement, (d) 0.010%, agreement date 6/30/2009. to be repurchased at $1,601,992 on 07/01/2009	$	1,601,991	$	1,601,991

Total Repurchase Agreement
(cost $1,601,991)				1,601,991

TOTAL INVESTMENTS (100.31%)
(cost $33,204,662)				28,105,588
LIABILITIES, NET OF CASH AND OTHER ASSETS (-0.31%)				(87,591	)

NET ASSETS (100.0%)			$	28,017,997

(a)

The Fund used values provided by an independent statistical fair value service to fair value the securities primarily traded on exchanges that closed before the regular close of trading of the New York Stock Exchange. This method of fair valuing foreign securities was established in the Valuation Procedures adopted by the Board of Trustees.

(b)	Non-income producing security.

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

(d)	Repurchase agreement is fully collateralized by a U.S. Government Agency security with a coupon rate of 5.00%, a maturity date of September 15, 2024 and a market value of $1,635,172 as of June 30, 2009.

ADR - American Depository Receipt

GDR - Global Depository Receipt

INTERNATIONAL EQUITY FUND FOREIGN

CURRENCY DENOMINATIONS


Currency	Value		%
Euro	$	6,273,787	22.33
United States Dollar		5,677,607	20.20
British Pound		3,696,758	13.15
Swiss Franc		3,375,715	12.01
Japanese Yen		2,130,604	7.58
Hong Kong Dollar		1,659,581	5.90
Brazilian Real		1,403,195	4.99
Danish Krone		1,170,971	4.17
Singapore Dollar		1,075,314	3.83
Swedish Krona		497,660	1.77
Australian Dollar		364,986	1.30
Malaysian Ringgit		350,996	1.25
Norwegian Krone		188,164	0.67
Canadian Dollar		170,034	0.60
South Korean Won		70,216	0.25

Total Investments	$	28,105,588	100.00	%

INTERNATIONAL EQUITY FUND SECTOR CLASSIFICATIONS


Sector	Value			%
Financials	$	6,074,603		21.68
Energy		3,857,260		13.77
Industrials		3,826,230		13.66
Consumer Staples		3,325,472		11.86
Materials		3,160,007		11.28
Health Care		1,919,547		6.85
Consumer Discretionary		1,798,222		6.41
Telecommunication Services		1,417,624		5.06
Information Technology		879,259		3.14
Utilities		245,373		0.88

Total Stocks		26,503,597		94.59
Repurchase Agreement		1,601,991		5.72
Liabilities, Net of Cash and Other Assets		(87,591	)	(0.31	)

Net Assets	$	28,017,997		100.00	%


	Shares	Value
Common Stocks (98.81%)
Aerospace/Defense (1.45%)
Boeing Co.	33,382	$	1,418,735
General Dynamics Corp.	17,734		982,286
Lockheed Martin Corp.	15,033		1,212,412
Northrop Grumman Corp.	14,936		682,277
Raytheon Co.	18,175		807,515
Rockwell Collins Inc.	7,206		300,706

			5,403,931

Agriculture, Foods, & Beverage (4.79%)
Archer-Daniels-Midland Co.	29,363		786,048
Campbell Soup Co.	9,299		273,577
CF Industries Holdings Inc.	2,450		181,643
Coca-Cola Enterprises Inc.	14,364		239,161
ConAgra Foods Inc.	20,635		393,303
Constellation Brands Inc. (a)	8,802		111,609
Dean Foods Co. (a)	8,109		155,612
Dr. Pepper Snapple Group Inc. (a)	11,560		244,956
General Mills Inc.	15,172		849,936
H.J. Heinz Co.	14,399		514,044
Hormel Foods Corp.	3,208		110,804
J.M. Smucker Co.	5,380		261,791
Kellogg Co.	11,536		537,232
Kraft Foods Inc. Class A	67,418		1,708,372
McCormick & Co. Inc.	6,017		195,733
Molson Coors Brewing Co. Class B	6,857		290,257
Pepsi Bottling Group Inc.	6,191		209,503
PepsiCo Inc.	71,422		3,925,353
Reynolds American Inc.	7,742		298,996
Sara Lee Corp.	32,179		314,067
Sysco Corp.	27,238		612,310
The Coca-Cola Co.	91,357		4,384,222
The Hershey Co.	7,597		273,492
Tyson Foods Inc.	14,075		177,486
Whole Foods Market Inc.	6,485		123,085
Yum! Brands Inc.	21,068		702,407

			17,874,999

Airlines (0.06%)
Southwest Airlines Co.	34,042		229,103

Automotive (0.69%)
Ford Motor Co. (a)	145,137		880,982
Genuine Parts Co.	7,208		241,900
Goodyear Tire & Rubber Co. (a)	10,751		121,056
Harley-Davidson Inc.	10,686		173,220
ITT Corp.	8,280		368,460
O’Reilly Automotive Inc. (a)	6,198		236,020
Paccar Inc.	16,560		538,366

			2,560,004


	Shares	Value
Common Stocks (Cont.)
Banks (6.37%)
Bank of America Corp.	370,498	$	4,890,574
Bank of New York Mellon Corp.	54,766		1,605,191
BB&T Corp.	29,098		639,574
Comerica Inc.	6,815		144,137
Fifth Third Bancorp	33,667		239,036
Hudson City Bancorp Inc.	23,987		318,787
Huntington Bancshares Inc.	24,903		104,094
JPMorgan Chase & Co.	178,719		6,096,105
M&T Bank Corp.	3,511		178,815
Northern Trust Corp.	10,943		587,420
PNC Financial Services Group Inc.	21,086		818,348
State Street Corp.	22,619		1,067,617
Suntrust Banks Inc.	21,288		350,188
US Bancorp	86,867		1,556,657
Wells Fargo & Co.	213,300		5,174,658

			23,771,201

Building Materials & Construction (0.38%)
Centex Corp.	5,650		47,799
DR Horton Inc.	12,481		116,822
Fluor Corp.	8,312		426,322
KB Home	3,601		49,262
Leggett & Platt Inc.	7,272		110,753
Lennar Corp.	6,433		62,336
Masco Corp.	16,380		156,920
Pulte Homes Inc.	9,834		86,834
Stanley Works	3,565		120,640
Vulcan Materials Co.	5,583		240,627

			1,418,315

Chemicals (1.73%)
Air Products & Chemicals Inc.	9,657		623,746
E.I. du Pont de Nemours & Co.	41,347		1,059,310
Eastman Chemical Co.	3,208		121,583
International Flavors & Fragrances Inc.	3,518		115,109
Monsanto Co.	25,070		1,863,704
Pall Corp.	5,435		144,354
PPG Industries Inc.	7,476		328,196
Praxair Inc.	14,185		1,008,128
Sealed Air Corp.	7,175		132,379
Sigma-Aldrich Corp.	5,665		280,757
The Dow Chemical Co.	49,290		795,540

			6,472,806

Commercial Service/Supply (1.58%)
Apollo Group Inc. Class A (a)	4,900		348,488
Ball Corp.	4,389		198,207
Cintas Corp.	6,074		138,730
Convergys Corp. (a)	5,349		49,639
Dun & Bradstreet Corp.	2,457		199,533


	Shares	Value
Common Stocks (Cont.)
Commercial Service/Supply (Cont.)
Eastman Kodak Co.	11,724	$	34,703
Ecolab Inc.	7,779		303,303
Equifax Inc.	5,826		152,059
Fastenal Co.	5,858		194,310
Interpublic Group of Companies Inc. (a)	21,302		107,575
Iron Mountain Inc. (a)	8,215		236,181
Jacobs Engineering Group Inc. (a)	5,668		238,566
Monster Worldwide Inc. (a)	5,557		65,628
Moody’s Corp.	8,981		236,649
Omnicom Group Inc.	14,105		445,436
Owens-Illinois Inc. (a)	7,636		213,884
Pactiv Corp. (a)	5,936		128,989
Paychex Inc.	14,618		368,374
Pitney Bowes Inc.	9,458		207,414
Republic Services Inc.	14,623		356,947
Robert Half International Inc.	7,064		166,852
RR Donnelley & Sons Co.	9,573		111,238
Ryder System Inc.	2,542		70,973
Snap-On Inc.	2,599		74,695
Waste Management Inc.	22,522		634,220
WW Grainger Inc.	2,946		241,219
Wyndham Worldwide Corp.	7,949		96,342
Xerox Corp.	39,735		257,483

			5,877,637

Computer Software & Services (5.44%)
Adobe Systems Inc. (a)	24,185		684,435
Affiliated Computer Services Inc. Class A (a)	4,501		199,934
Autodesk Inc. (a)	10,321		195,893
Automatic Data Processing Inc.	23,070		817,601
BMC Software Inc. (a)	8,642		292,013
CA Inc.	17,934		312,590
Computer Sciences Corp. (a)	6,885		305,006
Compuware Corp. (a)	11,536		79,137
DeVry Inc.	2,824		141,313
eBay Inc. (a)	49,365		845,622
Electronic Arts Inc. (a)	14,819		321,869
EMC Corp. (a)	92,219		1,208,069
Intuit Inc. (a)	14,608		411,361
Juniper Networks Inc. (a)	24,168		570,365
McAfee Inc. (a)	6,993		295,035
Microsoft Corp.	350,960		8,342,319
NetApp Inc. (a)	15,250		300,730
Oracle Corp.	173,784		3,722,453
Western Digital Corp. (a)	10,193		270,115
Yahoo! Inc. (a)	63,961		1,001,629

			20,317,489


	Shares	Value
Common Stocks (Cont.)
Computers (4.77%)
Apple Inc. (a)	40,873	$	5,821,541
Dell Inc. (a)	79,511		1,091,686
Hewlett-Packard Co.	109,466		4,230,861
International Business Machines Corp.	60,587		6,326,495
Sun Microsystems Inc. (a)	34,241		315,702

			17,786,285

Consumer & Marketing (5.16%)
Altria Group Inc.	94,764		1,553,182
Avery Dennison Corp.	5,093		130,788
Avon Products Inc.	19,631		506,087
Black & Decker Corp.	2,722		78,013
Brown-Forman Corp. Class B (a)	4,461		191,734
Clorox Co.	6,385		356,475
Colgate-Palmolive Co.	22,965		1,624,544
Danaher Corp.	11,727		724,025
Darden Restaurants Inc.	6,380		210,412
Fortune Brands Inc.	6,827		237,170
Harman International Industries Inc.	2,641		49,651
Hasbro Inc.	5,704		138,265
Kimberly-Clark Corp.	18,942		993,129
Lorillard Inc.	7,762		526,031
Mattel Inc.	16,407		263,332
Newell Rubbermaid Inc.	12,557		130,718
Philip Morris International Inc.	89,995		3,925,582
Starbucks Corp. (a)	33,798		469,454
The Estee Lauder Companies	5,223		170,636
The Procter & Gamble Co.	133,638		6,828,902
Whirlpool Corp.	3,386		144,108

			19,252,238

Electronic/Electrical Manufacturing (3.99%)
Advanced Micro Devices Inc. (a)	26,755		103,542
Agilent Technologies Inc. (a)	16,155		328,108
Applied Materials Inc.	61,655		676,355
Emerson Electric Co.	34,591		1,120,748
General Electric Co.	484,714		5,680,848
Intel Corp.	255,301		4,225,232
KLA-Tencor Corp.	7,877		198,894
Linear Technology Corp.	10,081		235,391
LSI Corp. (a)	29,117		132,774
Micron Technology Inc. (a)	38,790		196,277
Molex Inc.	6,542		101,728
National Semiconductor Corp.	8,841		110,955
PerkinElmer Inc.	5,315		92,481
Rockwell Automation Inc.	6,366		204,476
Texas Instruments Inc.	58,596		1,248,095
Waters Corp. (a)	4,502		231,718

			14,887,622


	Shares	Value
Common Stocks (Cont.)
Financial Services (5.08%)
American Express Co.	54,398	$	1,264,209
Ameriprise Financial Inc.	11,686		283,619
Apartment Investment and Management Co.	5,463		48,348
AvalonBay Communities Inc.	3,617		202,335
Boston Properties Inc.	5,541		264,306
Capital One Financial Corp.	20,545		449,525
CB Richard Ellis Group Inc. Class A (a)	10,194		95,416
Charles Schwab Corp.	42,851		751,606
CIT Group Inc.	17,144		36,860
Citigroup Inc.	251,200		746,064
CME Group Inc.	3,061		952,308
Discover Financial Services	21,812		224,009
E*TRADE Financial Corp. (a)	46,136		59,054
Equity Residential	12,497		277,808
Federated Investors Inc. Class B	4,162		100,263
Fidelity National Information Services	8,770		175,049
First Horizon National Corp. (a)	9,853		118,236
Franklin Resources Inc.	6,941		499,821
Goldman Sachs Group Inc.	23,045		3,397,755
H&R Block Inc.	15,520		267,410
HCP Inc.	12,482		264,494
Healthcare Realty Trust Inc.	5,031		171,557
Host Hotels & Resorts Inc.	27,542		231,077
IntercontinentalExchange Inc. (a)	3,352		382,932
Invesco Ltd.	18,843		335,782
Janus Capital Group Inc.	7,136		81,350
KeyCorp	32,431		169,938
Kimco Realty Corp.	14,828		149,021
Legg Mason Inc.	6,410		156,276
Leucadia National Corp. (a)	8,055		169,880
Marshall & Ilsley Corp.	16,141		77,477
MasterCard Inc. Class A	3,331		557,310
MBIA Inc. (a)	8,949		38,749
Morgan Stanley	61,923		1,765,425
NASDAQ OMX Group Inc. (a)	6,196		132,037
NYSE Euronext	12,119		330,243
People’s United Financial Inc.	15,808		237,752
Principal Financial Group Inc.	14,227		268,037
ProLogis	19,255		155,195
Public Storage	5,773		378,016
Regions Financial Corp.	50,217		202,877
Simon Property Group Inc.	12,577		646,835
SLM Corp. (a)	21,132		217,026
T Rowe Price Group Inc.	11,794		491,456
Ventas Inc.	7,170		214,096
Vornado Realty Trust	7,272		327,458
Western Union Co.	32,517		533,279
Zions Bancorporation	5,189		59,985

			18,959,561


	Shares	Value
Common Stocks (Cont.)
Forest Products & Paper (0.25%)
International Paper Co.	19,483	$	294,778
MeadWestvaco Corp.	7,757		127,292
Plum Creek Timber Co. Inc.	7,540		224,541
Weyerhaeuser Co.	9,630		293,041

			939,652

Health Care (13.46%)
Abbott Laboratories	70,920		3,336,077
Aetna Inc.	20,705		518,660
Allergan Inc.	14,020		667,072
AmerisourceBergen Corp.	14,137		250,790
Amgen Inc. (a)	46,483		2,460,810
Baxter International Inc.	27,830		1,473,877
Becton Dickinson & Co.	11,034		786,834
Biogen Idec Inc. (a)	13,326		601,669
Boston Scientific Corp. (a)	69,072		700,390
Bristol-Myers Squibb Co.	90,899		1,846,159
Cardinal Health Inc.	16,530		504,992
Celgene Corp. (a)	21,090		1,008,946
Cephalon Inc. (a)	3,164		179,241
Coventry Health Care Inc. (a)	6,733		125,974
CR Bard Inc.	4,526		336,961
DaVita Inc. (a)	4,749		234,886
DENTSPLY International Inc.	6,775		206,773
Eli Lilly & Co.	46,372		1,606,326
Express Scripts Inc. (a)	12,413		853,394
Forest Laboratories Inc. (a)	13,822		347,070
Genzyme Corp. (a)	12,389		689,696
Gilead Sciences Inc. (a)	41,645		1,950,652
Hospira Inc. (a)	7,249		279,231
Humana Inc. (a)	7,673		247,531
IMS Health Inc.	8,252		104,800
Intuitive Surgical Inc. (a)	1,769		289,514
Johnson & Johnson	126,337		7,175,942
King Pharmaceuticals Inc. (a)	11,171		107,577
Laboratory Corp. of America Holdings (a)	4,977		337,391
Life Technologies Corp. (a)	7,867		328,211
McKesson Corp.	12,578		553,432
Medco Health Solutions Inc. (a)	22,220		1,013,454
Medtronic Inc.	51,328		1,790,834
Merck & Co. Inc.	96,759		2,705,382
Mylan Inc. (a)	14,045		183,287
Patterson Companies Inc. (a)	4,127		89,556
Pfizer Inc.	309,587		4,643,805
Quest Diagnostics Inc.	6,984		394,107
Schering-Plough Corp.	74,663		1,875,535
St. Jude Medical Inc. (a)	15,895		653,284
Stericycle Inc. (a)	3,892		200,555
Stryker Corp.	11,004		437,299
Tenet Healthcare Corp. (a)	18,754		52,886
UnitedHealth Group Inc.	54,723		1,366,980


	Shares	Value
Common Stocks (Cont.)
Health Care (Cont.)
Varian Medical Systems Inc. (a)	5,683	$	199,701
Watson Pharmaceuticals Inc. (a)	4,867		163,823
WellPoint Inc. (a)	22,317		1,135,712
Wyeth	61,103		2,773,465
Zimmer Holdings Inc. (a)	9,989		425,531

			50,216,074

Insurance (2.31%)
Aflac Inc.	21,425		666,103
American International Group Inc.	122,523		142,127
Aon Corp.	12,566		475,875
Assurant Inc.	5,388		129,797
Chubb Corp.	16,218		646,774
Cigna Corp.	12,501		301,149
Cincinnati Financial Corp.	7,499		167,603
Genworth Financial Inc.	19,419		135,739
Hartford Financial Services Group Inc.	14,730		174,845
Lincoln National Corp.	13,564		233,436
Loews Corp.	16,505		452,237
Marsh & McLennan Companies Inc.	23,603		475,128
MetLife Inc.	37,493		1,125,165
Progressive Corp. (a)	30,785		465,161
Prudential Financial Inc.	20,920		778,642
The Allstate Corp.	24,427		596,019
Torchmark Corp.	3,977		147,308
Travelers Companies Inc.	26,812		1,100,365
Unum Group	15,370		243,768
XL Capital Ltd. Class A	15,527		177,939

			8,635,180

Leisure, Lodging & Gaming (0.30%)
Carnival Corp.	19,922		513,390
Marriott International Inc. Class A	13,409		295,937
Starwood Hotels & Resorts Worldwide Inc.	8,488		188,433
Wynn Resorts, Ltd. (a)	3,057		107,912

			1,105,672

Machinery & Manufacturing (3.25%)
3M Co.	31,798		1,911,060
Bemis Co. Inc.	4,644		117,029
Cameron International Corp. (a)	10,140		286,962
Caterpillar Inc.	27,548		910,186
Cooper Industries Ltd. Class A	7,802		242,252
Cummins Inc.	9,230		324,988
Deere & Co.	19,472		777,906
Dover Corp.	8,491		280,967
Eaton Corp.	7,570		337,698
Flowserve Corp.	2,597		181,297
Goodrich Corp.	5,655		282,580


	Shares	Value
Common Stocks (Cont.)
Machinery & Manufacturing (Cont.)
Honeywell International Inc.	33,693	$	1,057,960
Illinois Tool Works Inc.	17,763		663,270
Johnson Controls Inc.	27,073		588,026
Manitowoc Co. Inc.	5,883		30,945
Millipore Corp. (a)	2,506		175,946
Parker Hannifin Corp.	7,474		321,083
Precision Castparts Corp.	6,433		469,802
Textron Inc.	12,314		118,953
Thermo Fisher Scientific Inc. (a)	19,262		785,312
United Technologies Corp.	43,257		2,247,634

			12,111,856

Media & Broadcasting (2.39%)
CBS Corp. Class B	30,973		214,333
Comcast Corp. Class A	132,112		1,914,303
Gannett Co. Inc.	10,358		36,978
Meredith Corp.	1,577		40,292
New York Times Co.	5,251		28,933
News Corp. Class A	105,326		959,520
Scripps Networks Interactive Class A	4,009		111,571
The DIRECTV Group Inc. (a)	23,575		582,538
The McGraw-Hill Companies Inc.	14,469		435,662
The Walt Disney Co.	85,205		1,987,833
The Washington Post Co.	280		98,610
Time Warner Cable Inc.	16,172		512,167
Time Warner Inc.	54,765		1,379,531
Viacom Inc. Class B (a)	27,893		633,171

			8,935,442

Mining & Metals (0.93%)
AK Steel Holding Corp.	5,183		99,462
Alcoa Inc.	43,306		447,351
Allegheny Technologies Inc.	4,503		157,290
Freeport-McMoRan Copper & Gold Inc.	18,827		943,421
Newmont Mining Corp.	22,417		916,183
Nucor Corp.	14,426		640,947
Titanium Metals Corp.	4,133		37,982
United States Steel Corp.	6,415		229,272

			3,471,908

Oil & Gas (11.79%)
Anadarko Petroleum Corp.	22,869		1,038,024
Apache Corp.	15,327		1,105,843
Baker Hughes Inc.	14,054		512,128
BJ Services Co.	13,315		181,483
Cabot Oil & Gas Corp.	4,789		146,735
Chesapeake Energy Corp.	25,703		509,690
Chevron Corp.	91,918		6,089,568
ConocoPhillips	68,002		2,860,164
Denbury Resources Inc. (a)	11,399		167,907


	Shares	Value
Common Stocks (Cont.)
Oil & Gas (Cont.)
Devon Energy Corp.	20,340	$	1,108,530
Diamond Offshore Drilling Inc.	3,183		264,348
El Paso Corp.	31,927		294,686
ENSCO International Inc.	6,524		227,492
EOG Resources Inc.	11,430		776,326
Exxon Mobil Corp.	223,625		15,633,624
Halliburton Co.	41,217		853,192
Hess Corp.	13,004		698,965
Marathon Oil Corp.	32,371		975,338
Murphy Oil Corp.	8,677		471,335
Nabors Industries Ltd. (a)	13,133		204,612
National-Oilwell Varco Inc. (a)	19,032		621,585
Noble Energy Inc.	7,865		463,799
Occidental Petroleum Corp.	37,154		2,445,105
Pioneer Natural Resources Co.	5,443		138,797
Questar Corp.	7,889		245,427
Range Resources Corp.	7,167		296,785
Rowan Companies Inc.	5,214		100,734
SCANA Corp.	5,542		179,949
Schlumberger Ltd.	54,873		2,969,178
Smith International Inc.	10,039		258,504
Southwestern Energy Co. (a)	15,796		613,675
Spectra Energy Corp.	29,408		497,583
Sunoco Inc.	5,293		122,798
Tesoro Corp.	6,130		78,035
Valero Energy Corp.	25,485		430,442
Williams Companies Inc.	26,612		415,413

			43,997,799

Retailers (6.70%)
Abercrombie & Fitch Co. Class A	3,883		98,589
Amazon.com Inc. (a)	14,729		1,232,228
AutoNation Inc. (a)	4,834		83,870
AutoZone Inc. (a)	1,689		255,225
Bed Bath & Beyond Inc. (a)	11,858		364,634
Best Buy Co. Inc.	15,547		520,669
Big Lots Inc. (a)	3,662		77,012
Coach Inc.	14,810		398,093
Costco Wholesale Corp.	19,834		906,414
CVS Caremark Corp.	66,766		2,127,832
Family Dollar Stores Inc.	6,340		179,422
GameStop Corp. Class A (a)	7,432		163,578
GAP Inc.	21,382		350,665
Home Depot Inc.	77,705		1,836,169
J.C. Penney Co Inc.	10,111		290,287
Kohl’s Corp. (a)	14,016		599,184
Kroger Co.	29,865		658,523
Limited Brands Inc.	12,008		143,736
Lowe’s Companies Inc.	67,124		1,302,877
Macy’s Inc.	19,142		225,110
McDonald’s Corp.	50,638		2,911,179
Nordstrom Inc.	7,244		144,083


	Shares	Value
Common Stocks (Cont.)
Retailers (Cont.)
Office Depot Inc. (a)	12,754	$	58,158
RadioShack Corp.	5,919		82,629
Safeway Inc.	19,482		396,848
Sears Holdings Corp. (a)	2,587		172,087
Staples Inc.	32,686		659,277
Supervalu Inc.	9,710		125,745
Target Corp.	34,432		1,359,031
The Sherwin-Williams Co.	4,512		242,520
Tiffany & Co.	5,642		143,081
TJX Companies Inc.	19,116		601,389
Wal-Mart Stores Inc.	102,348		4,957,737
Walgreen Co.	45,354		1,333,408

			25,001,289

Technology (3.88%)
Akamai Technologies Inc. (a)	7,789		149,393
Altera Corp.	13,769		224,159
Amphenol Corp. Class A	8,045		254,544
Analog Devices Inc.	13,223		327,666
Broadcom Corp. Class A (a)	19,581		485,413
Citrix Systems Inc. (a)	8,285		264,209
Cognizant Technology Solutions Corp. (a)	13,265		354,175
Expedia Inc. (a)	9,313		140,719
Fiserv Inc. (a)	7,235		330,639
FLIR Systems Inc. (a)	6,841		154,333
FMC Technologies Inc. (a)	5,777		217,100
Google Inc. Class A (a)	10,998		4,636,647
International Game Technology	13,198		209,848
Jabil Circuit Inc.	9,645		71,566
L-3 Communications Holdings Inc.	5,418		375,901
Lexmark International Inc. (a)	3,720		58,962
MEMC Electronic Materials Inc. (a)	10,276		183,016
Microchip Technology Inc.	8,407		189,578
Novell Inc. (a)	15,330		69,445
Novellus Systems Inc. (a)	4,476		74,749
NVIDIA Corp. (a)	24,702		278,886
QLogic Corp. (a)	5,925		75,129
QUALCOMM Inc.	75,818		3,426,974
Quanta Services Inc. (a)	8,928		206,505
Salesforce.com Inc. (a)	4,849		185,086
SanDisk Corp. (a)	10,228		150,249
Symantec Corp. (a)	37,812		588,355
Teradata Corp. (a)	8,083		189,385
Teradyne Inc. (a)	7,565		51,896
Total System Services Inc.	8,965		120,041
VeriSign Inc. (a)	8,782		162,291
Xilinx Inc.	12,579		257,366

			14,464,225


	Shares	Value
Common Stocks (Cont.)
Telecom & Telecom Equipment (5.37%)
American Tower Corp. Class A (a)	18,166	$	572,774
AT&T Inc.	270,525		6,719,841
CenturyTel Inc.	4,634		142,264
Ciena Corp. (a)	3,843		39,775
Cisco Systems Inc. (a)	264,524		4,930,727
Corning Inc.	71,256		1,144,371
Embarq Corp.	6,483		272,675
Frontier Communications Corp.	14,285		101,995
Harris Corp.	6,098		172,939
JDS Uniphase Corp. (a)	9,653		55,215
MetroPCS Communications Inc. (a)	11,598		154,370
Motorola Inc.	104,490		692,769
Qwest Communications International Inc.	67,718		281,030
Sprint Nextel Corp. (a)	131,483		632,433
Tellabs Inc. (a)	17,918		102,670
Verizon Communications Inc.	130,368		4,006,209

			20,022,057

Textiles & Clothing (0.34%)
NIKE Inc. Class B	17,852		924,376
Polo Ralph Lauren Corp.	2,576		137,919
VF Corp.	4,054		224,389

			1,286,684

Transportation (1.93%)
Burlington Northern Santa Fe Corp.	12,813		942,268
CH Robinson Worldwide Inc.	7,742		403,745
CSX Corp.	18,020		624,033
Expeditors International of Washington Inc.	9,699		323,365
FedEx Corp.	14,274		793,920
Norfolk Southern Corp.	16,884		636,020
Union Pacific Corp.	23,230		1,209,354
United Parcel Service Inc. Class B	45,647		2,281,893

			7,214,598

Utilities & Energy (4.42%)
Allegheny Energy Inc.	7,754		198,890
Ameren Corp.	9,722		241,981
American Electric Power Co. Inc.	21,394		618,073
CenterPoint Energy Inc.	15,843		175,540
CMS Energy Corp.	10,200		123,216
CONSOL Energy Inc.	8,319		282,513
Consolidated Edison Inc.	12,581		470,781
Constellation Energy Group Inc.	9,048		240,496
Dominion Resources Inc.	26,784		895,121
DTE Energy Co.	7,423		237,536
Duke Energy Corp.	58,697		856,389
Dynegy Inc. (a)	23,131		52,507


	Shares or principal amount		Value
Common Stocks (Cont.)
Utilities & Energy (Cont.)
Edison International		14,851	$	467,212
Entergy Corp.		8,984		696,440
EQT Corp.		5,881		205,306
Exelon Corp.		30,131		1,543,008
FirstEnergy Corp.		13,998		542,423
FPL Group Inc.		18,736		1,065,329
Integrys Energy Group Inc.		3,498		104,905
Massey Energy Co.		3,896		76,128
Nicor Inc.		2,047		70,867
NiSource Inc.		12,575		146,624
Northeast Utilities		7,823		174,531
Peabody Energy Corp.		12,256		369,641
Pepco Holdings Inc.		9,898		133,029
PG&E Corp.		16,748		643,793
Pinnacle West Capital Corp.		4,549		137,152
PPL Corp.		17,242		568,296
Progress Energy Inc.		12,602		476,734
Public Service Enterprise Group Inc.		23,185		756,527
Sempra Energy		11,229		557,295
TECO Energy Inc.		9,592		114,433
The AES Corp. (a)		30,625		355,556
The Southern Co.		35,645		1,110,698
Windstream Corp.		20,030		167,451
Wisconsin Energy Corp.		5,329		216,944
Xcel Energy Inc.		20,875		384,309
XTO Energy Inc.		26,569		1,013,342

				16,491,016

Total Common Stocks
(cost $498,352,123)				368,704,643

Short-term Investments (1.16%)
U.S. Treasury Bill, 0.040%, 07/23/2009 (b)	$	4,327,000		4,326,684

Total Short-term Investments
(cost $4,326,877)				4,326,684

TOTAL INVESTMENTS (99.97%)
(cost $502,679,000)				373,031,327
CASH AND OTHER ASSETS, NET OF LIABILITIES (0.03%)				111,591

NET ASSETS (100.00%)			$	373,142,918

(a)	Non-income producing security.

(b)	At June 30, 2009, this security has been pledged to cover, in whole or in part, initial margin requirements for open future contracts.


	Shares	Value
Common Stocks (98.91%)
Automotive & Transportation (3.59%)
AAR Corp. (a)	8,769	$	140,742
Air Transport Services Group Inc. (a)	13,027		30,223
Airtran Holdings Inc. (a)	27,811		172,150
Alaska Air Group Inc. (a)	8,271		151,028
Allegiant Travel Co. (a)	3,413		135,291
Amerco Inc. (a)	1,975		73,371
American Axle & Manufacturing Holdings Inc.	10,110		34,778
American Commercial Lines Inc. (a)	1,962		30,372
American Railcar Industries Inc.	2,027		16,743
Amerigon Inc. (a)	4,985		30,409
Arkansas Best Corp.	5,686		149,826
ArvinMeritor Inc.	16,187		71,061
ATC Technology Corp. (a)	4,557		66,077
Atlas Air Worldwide Holdings Inc. (a)	3,976		92,203
Avis Budget Group Inc. (a)	23,628		133,498
Bristow Group Inc. (a)	6,590		195,262
CAI International Inc. (a)	1,609		8,206
Celadon Group Inc. (a)	4,880		40,943
China Automotive Systems Inc. (a)	1,887		10,379
Cooper Tire & Rubber Co.	13,532		134,237
Dana Holding Corp. (a)	21,736		27,822
DHT Maritime Inc.	10,655		55,513
Dorman Products Inc. (a)	2,397		33,151
Dynamex Inc. (a)	2,021		31,103
Eagle Bulk Shipping Inc.	10,273		48,180
Force Protection Inc. (a)	16,097		142,297
Forward Air Corp.	6,566		139,987
Freightcar America Inc.	2,628		44,177
Fuel Systems Solutions Inc. (a)	2,841		57,360
Genco Shipping & Trading Ltd.	5,974		129,755
General Maritime Corp.	11,234		111,104
Genesee & Wyoming Inc. (a)	7,596		201,370
Golar LNG Ltd.	7,756		66,314
Greenbrier Companies Inc.	3,591		25,819
GulfMark Offshore Inc. (a)	5,102		140,815
Hawaiian Holdings Inc. (a)	12,449		74,943
Heartland Express Inc.	11,509		169,413
Horizon Lines Inc.	6,887		26,584
Hub Group Inc. (a)	8,552		176,513
International Shipholding Corp.	1,325		35,722
Jetblue Airways Corp. (a)	53,367		227,877
Knight Transportation Inc.	13,038		215,779
Knightsbridge Tankers Ltd.	3,754		51,205
Lear Corp. (a)	14,087		7,044
Marine Products Corp.	2,326		8,723
Marten Transport Ltd. (a)	3,359		69,733
Miller Industries Inc. (a)	2,369		20,847
Modine Manufacturing Co.	7,083		33,998
Nordic American Tanker Shipping Ltd.	9,596		305,345
Odyssey Marine Exploration Inc. (a)	13,380		21,408
Old Dominion Freight Line Inc. (a)	6,295		211,323
Pacer International Inc.	7,619		16,990


	Shares	Value
Common Stocks (Cont.)
Automotive & Transportation (Cont.)
Patriot Transportation Holding Inc. (a)	296	$	21,587
PHI Inc. (a)	2,963		50,786
Polaris Industries Inc.	7,085		227,570
Portec Rail Products Inc.	1,572		15,484
Republic Airways Holdings Inc. (a)	7,666		50,059
Saia Inc. (a)	3,073		55,345
Ship Finance International Ltd.	10,175		112,230
SkyWest Inc.	12,875		131,325
Spartan Motors Inc.	7,181		81,361
Standard Motor Products Inc.	3,672		30,367
Stoneridge Inc. (a)	3,207		15,426
Superior Industries International Inc.	5,059		71,332
TBS International Ltd. Class A (a)	2,998		23,414
Tenneco Inc. (a)	10,771		114,173
Todd Shipyards Corp.	1,354		22,544
UAL Corp. (a)	32,349		103,193
Ultrapetrol Bahamas Ltd. (a)	5,484		24,294
Universal Truckload Services Inc.	1,364		21,347
US Airways Group Inc. (a)	30,651		74,482
US Auto Parts Network Inc. (a)	2,942		11,091
USA Truck Inc. (a)	1,825		24,692
Werner Enterprises Inc.	9,721		176,145
Winnebago Industries Inc.	6,470		48,072
Wonder Auto Technology Inc. (a)	3,213		32,548
YRC Worldwide Inc. (a)	12,541		21,696

			6,205,576

Consumer Discretionary (17.34%)
1-800-FLOWERS.COM Inc. (a)	5,927		11,380
99 Cents Only Stores (a)	10,724		145,632
ABM Industries Inc.	10,452		188,868
Administaff Inc.	4,737		110,230
Advisory Board Co. (a)	3,585		92,134
AFC Enterprises (a)	5,950		40,163
Ambassadors Group Inc.	4,188		57,669
America’s Car-Mart Inc. (a)	2,197		45,039
American Apparel Inc. (a)	7,425		27,027
American Greetings Corp.	9,368		109,418
American Public Education Inc. (a)	4,209		166,718
American Woodmark Corp.	2,358		56,474
Ameristar Casinos Inc.	5,851		111,345
AMN Healthcare Services Inc. (a)	7,429		47,397
AnnTaylor Stores Corp. (a)	13,596		108,496
APAC Customer Services Inc. (a)	5,956		30,554
Arbitron Inc.	6,105		97,008
Asbury Automotive Group Inc.	7,435		76,134
Ascent Media Corp. Class A (a)	3,271		86,943
Bally Technologies Inc. (a)	12,462		372,863
Bare Escentuals Inc. (a)	15,364		136,279
Barrett Business Services Inc.	1,808		18,984
bebe stores inc.	5,533		38,067
Belo Corp. Class A	19,572		35,034


	Shares	Value
Common Stocks (Cont.)
Consumer Discretionary (Cont.)
Benihana Inc. Class A (a)	3,103	$	19,611
Big 5 Sporting Goods Corp.	5,067		56,041
BJ’s Restaurants Inc. (a)	4,595		77,518
Blue Nile Inc. (a)	2,835		121,877
Blyth Inc.	1,375		45,086
Bob Evans Farms Inc.	6,957		199,944
Books-A-Million Inc.	1,675		11,909
Borders Group Inc. (a)	11,312		41,628
Bowne & Co. Inc.	6,022		39,203
Bridgepoint Education Inc. (a)	3,231		54,927
Brightpoint Inc. (a)	11,001		68,976
Brown Shoe Co. Inc.	9,296		67,303
Brunswick Corp.	20,406		88,154
Buckle Inc.	5,752		182,741
Buffalo Wild Wings Inc. (a)	4,053		131,804
Build-A-Bear Workshop Inc. (a)	3,308		14,787
Cabela’s Inc. (a)	9,300		114,390
California Pizza Kitchen Inc. (a)	4,628		61,506
Callaway Golf Co.	14,557		73,804
Capella Education Co. (a)	3,300		197,835
Carmike Cinemas Inc.	2,584		21,654
Carrols Restaurant Group Inc. (a)	2,666		17,756
Carter’s Inc. (a)	12,917		317,887
Cato Corp. Class A	6,403		111,668
CBIZ Inc. (a)	10,141		72,204
CDI Corp.	2,940		32,781
CEC Entertainment Inc. (a)	5,340		157,423
Central Garden & Pet Co. (a)	14,270		140,559
Cenveo Inc. (a)	10,556		44,652
Charlotte Russe Holding Inc. (a)	4,583		59,029
Charming Shoppes Inc. (a)	26,290		97,799
Chattem Inc. (a)	4,409		300,253
Cheesecake Factory Inc. (a)	13,617		235,574
Chemed Corp.	5,166		203,954
Cherokee Inc.	1,879		37,242
Children’s Place Retail Stores Inc. (a)	5,339		141,110
China Green Agriculture Inc. (a)	1,940		15,695
ChinaCast Education Corp. (a)	6,846		48,744
Chindex International Inc. (a)	3,254		40,252
Christopher & Banks Corp.	7,821		52,479
Churchill Downs Inc.	2,112		71,090
Cinemark Holdings Inc.	7,491		84,798
Citi Trends Inc. (a)	3,332		86,232
CKE Restaurants Inc.	11,292		95,756
CKX Inc. (a)	13,494		95,672
Coinstar Inc. (a)	6,855		183,028
Coldwater Creek Inc. (a)	12,485		75,659
Collective Brands Inc. (a)	14,869		216,641
Columbia Sportswear Co.	2,720		84,102
Compass Diversified Holdings	5,227		42,286
Conn’s Inc. (a)	2,383		29,788
Consolidated Graphics Inc. (a)	2,187		38,098
Core-Mark Holding Co. Inc. (a)	2,250		58,635


	Shares	Value
Common Stocks (Cont.)
Consumer Discretionary (Cont.)
Corinthian Colleges Inc. (a)	18,216	$	308,397
Cornell Companies Inc. (a)	2,436		39,488
Corporate Executive Board Co.	7,661		159,042
CoStar Group Inc. (a)	4,478		178,538
Courier Corp.	2,394		36,532
CPI Corp.	1,179		20,031
CRA International Inc. (a)	2,428		67,401
Cracker Barrel Old Country Store Inc.	5,161		143,992
Crocs Inc. (a)	18,277		62,142
Cross Country Healthcare Inc. (a)	6,774		46,537
Crown Media Holdings Inc. (a)	3,483		5,817
CSS Industries Inc.	1,725		35,156
Deckers Outdoor Corp. (a)	3,019		212,145
Denny’s Corp. (a)	20,836		44,797
Destination Maternity Corp. (a)	1,114		18,582
DG FastChannel Inc. (a)	4,147		75,890
Diamond Management & Technology Consultants Inc.	5,601		23,524
Dice Holdings Inc. (a)	3,184		14,806
Dillard’s Inc. Class A	11,850		109,020
DineEquity Inc.	4,000		124,760
Dolan Media Co. (a)	6,958		88,993
Dollar Thrifty Automotive Group Inc. (a)	4,874		67,992
Domino’s Pizza Inc. (a)	8,522		63,830
Dover Downs Gaming & Entertainment Inc.	3,524		16,387
Dress Barn Inc. (a)	10,270		146,861
drugstore.com Inc. (a)	18,300		33,306
DSW Inc. (a)	2,806		27,639
DTS Inc. (a)	3,911		105,871
DynCorp International Inc. Class A (a)	5,693		95,585
E.W. Scripps Co. Class A	6,813		14,239
EarthLink Inc. (a)	24,459		181,241
Eastman Kodak Co.	62,191		184,085
Einstein Noah Restaurant Group Inc. (a)	955		8,261
Elizabeth Arden Inc. (a)	5,393		47,081
Ennis Inc.	5,646		70,349
Ethan Allen Interiors Inc.	5,426		56,213
Exponent Inc. (a)	3,170		77,697
EZCORP Inc. (a)	10,111		108,997
Female Health Co. (a)	3,747		17,986
FGX International Holdings Ltd. (a)	3,090		35,164
First Advantage Corp. Class A (a)	2,252		34,253
Fisher Communications Inc.	1,344		17,190
Forrester Research Inc. (a)	3,556		87,300
Fossil Inc. (a)	10,657		256,621
Franklin Covey Co. (a)	3,003		18,709
Fred’s Inc.	9,157		115,378
Frisch’s Restaurants Inc.	527		15,568
Fuqi International Inc. (a)	2,130		44,112
Furniture Brands International Inc.	9,133		27,673
G&K Services Inc. Class A	4,147		87,709
G-III Apparel Group Ltd. (a)	2,905		33,378


	Shares	Value
Common Stocks (Cont.)
Consumer Discretionary (Cont.)
Gaiam Inc. (a)	3,939	$	21,546
Gander Mountain Co. (a)	1,667		10,002
Gaylord Entertainment Co. (a)	7,999		101,667
Genesco Inc. (a)	4,217		79,322
Geo Group Inc. (a)	11,766		218,612
Global Sources Ltd. (a)	4,005		28,876
Grand Canyon Education Inc. (a)	3,674		61,650
Great Wolf Resorts Inc. (a)	6,249		12,748
Group 1 Automotive Inc.	5,584		145,296
GSI Commerce Inc. (a)	5,854		83,420
Gymboree Corp. (a)	6,617		234,771
Harte-Hanks Inc.	8,667		80,170
Haverty Furniture Companies Inc.	4,011		36,701
Hawkins Inc.	2,033		45,905
Heidrick & Struggles International Inc.	3,844		70,153
Helen of Troy Ltd. (a)	6,630		111,318
Hibbett Sports Inc. (a)	6,347		114,246
Hooker Furniture Corp.	2,155		24,739
Hot Topic Inc. (a)	9,743		71,221
Houston Wire & Cable Co.	3,904		46,497
HSN Inc. (a)	9,227		97,529
ICF International Inc. (a)	2,051		56,587
Iconix Brand Group Inc. (a)	13,878		213,444
ICT Group Inc. (a)	2,157		18,831
inContact Inc. (a)	6,389		17,506
infoGROUP Inc. (a)	7,228		41,272
Information Services Group Inc. (a)	5,591		16,829
InfoSpace Inc. (a)	7,544		50,017
Innodata Isogen Inc. (a)	5,040		22,075
Insight Enterprises Inc. (a)	10,209		98,619
Inter Parfums Inc.	3,080		22,607
Internap Network Services Corp. (a)	11,056		38,585
Interval Leisure Group Inc. (a)	9,193		85,679
inVentiv Health Inc. (a)	7,642		103,396
iPass Inc. (a)	11,854		18,966
Isle of Capri Casinos Inc. (a)	3,230		43,024
J. Crew Group Inc. (a)	11,455		309,514
Jack in the Box Inc. (a)	12,966		291,087
Jackson Hewitt Tax Service Inc.	6,606		41,354
JAKKS Pacific Inc. (a)	6,465		82,946
Jo-Ann Stores Inc. (a)	6,138		126,872
Jones Apparel Group Inc.	19,795		212,400
Jos. A. Bank Clothiers Inc. (a)	4,154		143,147
Journal Communications Inc. Class A	9,883		10,377
K-Swiss Inc. Class A	5,676		48,246
K12 Inc. (a)	5,479		118,072
Kelly Services Inc. Class A	5,761		63,083
Kenexa Corp. (a)	5,103		59,042
Kenneth Cole Productions Inc.	1,851		13,013
Kforce Inc. (a)	6,625		54,789
Kimball International Inc. Class B	7,002		43,692
Kirkland’s Inc. (a)	2,905		34,889
Knology Inc. (a)	6,778		58,494


	Shares	Value
Common Stocks (Cont.)
Consumer Discretionary (Cont.)
Korn/Ferry International (a)	10,254	$	109,103
Krispy Kreme Doughnuts Inc. (a)	13,280		39,840
La-Z-Boy Inc.	11,284		53,260
Lakes Entertainment Inc. (a)	4,434		12,903
Lancaster Colony Corp.	4,341		191,308
Landry’s Restaurants Inc. (a)	1,692		14,551
Lawson Products Inc.	834		11,851
Leapfrog Enterprises Inc. (a)	7,131		16,330
Learning Tree International Inc. (a)	1,957		20,157
Life Time Fitness Inc. (a)	9,083		181,751
Lin TV Corp. (a)	5,603		9,413
Lincoln Educational Services (a)	2,259		47,281
Liquidity Services Inc. (a)	3,203		31,582
Lithia Motors Inc. Class A	3,921		36,230
Live Nation Inc. (a)	19,420		94,381
Liz Claiborne Inc.	22,121		63,708
LodgeNet Interactive Corp. (a)	4,779		16,249
LoopNet Inc. (a)	4,659		36,107
Luby’s Inc. (a)	4,719		19,159
Mac-Gray Corp. (a)	2,678		35,457
Maidenform Brands Inc. (a)	4,365		50,067
Mannatech Inc.	3,189		10,524
Marchex Inc. Class B	4,558		15,360
Marcus Corp.	4,404		46,330
Martha Stewart Living Omnimedia Inc. (a)	5,601		17,139
Matthews International Corp.	6,947		216,191
MAXIMUS Inc.	4,066		167,722
McCormick & Schmick’s Seafood Restaurants Inc. (a)	3,484		26,513
Mediacom Communications Corp. Class A (a)	8,650		44,202
Midas Inc. (a)	3,045		31,912
Monarch Casino & Resort Inc. (a)	2,067		15,089
Monro Muffler Brake Inc.	3,835		98,598
Morgans Hotel Group Co. (a)	5,025		19,246
Movado Group Inc.	3,484		36,721
MPS Group Inc. (a)	21,403		163,519
Multimedia Games Inc. (a)	6,238		30,940
MWI Veterinary Supply Inc. (a)	2,541		88,579
National CineMedia Inc.	9,602		132,124
National Presto Industries Inc.	1,048		79,753
Navigant Consulting Inc. (a)	11,279		145,725
Net 1 UEPS Technologies Inc. (a)	8,838		120,108
New York & Co. Inc. (a)	5,088		15,722
NIC Inc.	11,712		79,290
NIVS IntelliMedia Technology Group Inc. (a)	3,572		10,573
Nobel Learning Communities Inc. (a)	974		11,172
Nu Skin Enterprises Inc.	11,532		176,440
NutriSystem Inc.	7,041		102,094
O’Charley’s Inc.	3,981		36,824


	Shares	Value
Common Stocks (Cont.)
Consumer Discretionary (Cont.)
OfficeMax Inc.	17,713	$	111,238
On Assignment Inc. (a)	7,768		30,373
Orbitz Worldwide Inc. (a)	8,023		15,244
Orchids Paper Products Co. (a)	1,141		23,448
Orient-Express Hotels Ltd. Class A	17,824		151,326
Outdoor Channel Holdings Inc. (a)	3,518		20,756
Overstock.com Inc. (a)	3,311		39,600
Oxford Industries Inc.	3,029		35,288
Pacific Sunwear of California Inc. (a)	15,583		52,515
Pantry Inc. (a)	5,107		84,776
Papa John’s International Inc. (a)	4,936		122,363
ParkerVision Inc. (a)	8,155		24,954
PC Connection Inc. (a)	2,174		11,414
PC Mall Inc. (a)	2,421		16,366
PEP Boys-Manny Moe & Jack	11,301		114,592
Perficient Inc. (a)	6,283		43,918
Perry Ellis International Inc. (a)	2,507		18,251
PetMed Express Inc. (a)	5,206		78,246
PF Chang’s China Bistro Inc. (a)	5,357		171,745
PHH Corp. (a)	12,331		224,178
Pier 1 Imports Inc. (a)	19,613		39,226
Pinnacle Entertainment Inc. (a)	13,700		127,273
Playboy Enterprises Inc. (a)	4,731		11,875
Pool Corp.	10,899		180,487
Pre-Paid Legal Services Inc. (a)	1,597		69,613
Prestige Brands Holdings Inc. (a)	7,407		45,553
PriceSmart Inc.	3,781		63,332
Primedia Inc.	3,863		7,765
Primoris Services Corp.	1,934		14,350
Princeton Review Inc. (a)	2,918		15,786
Quiksilver Inc. (a)	27,686		51,219
RC2 Corp. (a)	3,911		51,743
Reading International Inc. Class A (a)	4,075		18,541
Red Lion Hotels Corp. (a)	3,157		15,154
Red Robin Gourmet Burgers Inc. (a)	3,697		69,319
Regis Corp.	9,944		173,125
Renaissance Learning Inc.	1,502		13,833
Rent-A-Center Inc. (a)	14,961		266,755
Rentrak Corp. (a)	2,206		36,245
Resources Connection Inc. (a)	10,299		176,834
Retail Ventures Inc. (a)	6,777		14,774
Revlon Inc. Class A (a)	4,576		24,893
REX Stores Corp. (a)	1,944		19,557
Rollins Inc.	10,166		175,974
Rosetta Stone Inc. (a)	1,461		40,090
RSC Holdings Inc. (a)	11,874		79,793
Ruby Tuesday Inc. (a)	12,642		84,196
Rush Enterprises Inc. Class A (a)	7,374		85,907
Ruth’s Hospitality Group Inc. (a)	4,036		14,812
Saks Inc. (a)	27,588		122,215
Sally Beauty Holdings Inc. (a)	22,378		142,324
Schawk Inc.	3,174		23,837
Scholastic Corp.	5,044		99,821


	Shares	Value
Common Stocks (Cont.)
Consumer Discretionary (Cont.)
School Specialty Inc. (a)	4,122	$	83,306
Sealy Corp. (a)	10,019		19,637
Shoe Carnival Inc. (a)	1,823		21,748
Shuffle Master Inc. (a)	12,413		82,050
Shutterfly Inc. (a)	4,676		65,230
Sinclair Broadcast Group Inc.	11,499		22,308
Skechers U.S.A. Inc. (a)	7,209		70,432
Sonic Automotive Inc.	5,219		53,025
Sonic Corp. (a)	14,187		142,296
Sotheby’s	15,524		219,044
Speedway Motorsports Inc.	2,987		41,101
Spherion Corp. (a)	12,355		50,903
Sport Supply Group Inc.	2,172		18,657
Stage Stores Inc.	8,860		98,346
Stamps.com Inc. (a)	2,528		21,437
Standard Parking Corp. (a)	1,731		28,198
Standard Register Co.	3,255		10,611
Stanley Furniture Company Inc.	2,423		26,144
StarTek Inc. (a)	2,801		22,464
Stein Mart Inc. (a)	5,902		52,292
Steiner Leisure Ltd. (a)	3,255		99,375
Steinway Musical Instruments Inc. (a)	1,507		16,140
Steven Madden Ltd. (a)	3,619		92,104
Stewart Enterprises Inc.	18,382		88,601
Sturm Ruger & Company Inc.	4,436		55,184
Syms Corp. (a)	1,450		10,890
Systemax Inc. (a)	2,362		28,131
Take-Two Interactive Software Inc. (a)	18,623		176,360
Talbots Inc.	5,360		28,944
TeleTech Holdings Inc. (a)	7,510		113,776
Tempur-Pedic International Inc.	17,357		226,856
Texas Roadhouse Inc. Class A (a)	11,495		125,410
The Finish Line Inc. Class A	9,369		69,518
The Knot Inc. (a)	6,846		53,946
The Men’s Wearhouse Inc.	12,074		231,579
The Providence Service Corp. (a)	2,574		28,185
The Steak n Shake Co. (a)	5,633		49,232
THQ Inc. (a)	15,313		109,641
Ticketmaster Entertainment Inc. (a)	8,772		56,316
Timberland Co. (a)	10,075		133,695
TiVo Inc. (a)	23,802		249,445
Town Sports International Holdings Inc. (a)	3,831		14,366
Tractor Supply Co. (a)	8,177		337,874
Travelzoo Inc. (a)	1,316		14,410
True Religion Apparel Inc. (a)	5,645		125,883
TrueBlue Inc. (a)	9,755		81,942
Tuesday Morning Corp. (a)	7,227		24,355
Tupperware Brands Corp.	14,279		371,540
Tween Brands Inc. (a)	5,444		36,366
Ulta Salon Cosmetics & Fragrance Inc. (a)	6,435		71,557
Under Armour Inc. Class A (a)	7,490		167,626


	Shares	Value
Common Stocks (Cont.)
Consumer Discretionary (Cont.)
UniFirst Corp.	3,154	$	117,234
United Online Inc.	19,396		126,268
United Rentals Inc. (a)	13,969		90,659
United Stationers Inc. (a)	5,390		188,003
Universal Electronics Inc. (a)	3,113		62,789
Universal Technical Institute Inc. (a)	4,457		66,543
Universal Travel Group (a)	2,351		26,308
USANA Health Sciences Inc. (a)	1,449		43,079
Vail Resorts Inc. (a)	6,687		179,345
Valassis Communications Inc. (a)	10,551		64,467
Value Line Inc.	312		10,255
ValueClick Inc. (a)	19,714		207,391
Viad Corp.	4,547		78,299
VistaPrint Ltd. (a)	9,617		410,165
Volcom Inc. (a)	4,388		54,850
Volt Information Sciences Inc. (a)	2,876		18,033
Warnaco Group Inc. (a)	10,453		338,677
Waste Services Inc. (a)	4,117		21,326
Watson Wyatt Worldwide Inc.	9,731		365,204
WD-40 Co.	3,790		109,910
West Marine Inc. (a)	3,363		18,530
Wet Seal Inc. Class A (a)	23,352		71,691
Weyco Group Inc.	1,588		36,667
Wolverine World Wide Inc.	11,210		247,293
World Fuel Services Corp.	6,644		273,932
World Wrestling Entertainment Inc.	5,070		63,679
Youbet.com Inc. (a)	7,043		23,242
Zale Corp. (a)	5,507		18,944
Zumiez Inc. (a)	4,309		34,515

			29,958,192

Consumer Staples (2.71%)
Alliance One International Inc. (a)	21,262		80,796
American Dairy Inc. (a)	1,856		73,609
American Italian Pasta Co. Class A (a)	4,861		141,649
Arden Group Inc. Class A	240		30,024
B&G Foods Inc. Class A	4,404		37,038
Boston Beer Co. Inc. (a)	2,024		59,890
Cal-Maine Foods Inc.	3,107		77,551
Caribou Coffee Company Inc. (a)	1,812		11,633
Casey’s General Stores Inc.	11,592		297,798
China-Biotics Inc. (a)	1,720		18,542
Chiquita Brands International Inc. (a)	10,572		108,469
Coca-Cola Bottling Co. Consolidated	896		49,396
Diamond Foods Inc.	3,890		108,531
Diedrich Coffee Inc. (a)	715		17,003
Farmer Brothers Co.	1,392		31,849
Fresh Del Monte Produce Inc. (a)	9,327		151,657
Hain Celestial Group Inc. (a)	9,231		144,096
Heckmann Corp. (a)	18,599		69,746
Imperial Sugar Co.	2,561		31,014
Ingles Markets Inc.	2,759		42,047


	Shares	Value
Common Stocks (Cont.)
Consumer Staples (Cont.)
J&J Snack Foods Corp.	3,233	$	116,065
Lance Inc.	6,397		147,963
Lifeway Foods Inc. (a)	1,050		13,545
Lululemon Athletica Inc. (a)	9,433		122,912
M & F Worldwide Corp. (a)	2,483		49,660
Medifast Inc. (a)	3,036		34,793
Nash Finch Co.	2,841		76,877
National Beverage Corp. (a)	2,198		23,409
Nutraceutical International Corp. (a)	2,555		26,546
Omega Protein Corp. (a)	4,026		16,346
Overhill Farms Inc. (a)	3,723		19,620
Peet’s Coffee & Tea Inc. (a)	2,636		66,427
Ruddick Corp.	9,824		230,176
Sanderson Farms Inc.	4,624		208,080
Schiff Nutrition International Inc. (a)	2,028		10,322
Seaboard Corp.	73		81,906
Seneca Foods Corp. Class A (a)	1,507		50,364
Sensient Technologies Corp.	11,183		252,400
Smart Balance Inc. (a)	14,460		98,473
Spartan Stores Inc.	4,803		59,605
Star Scientific Inc. (a)	14,390		12,807
Susser Holdings Corp. (a)	1,698		19,001
Synutra International Inc. (a)	4,200		46,200
The Great Atlantic & Pacific Tea Company Inc. (a)	7,747		32,925
Tootsie Roll Industries Inc.	5,385		122,186
TreeHouse Foods Inc. (a)	7,227		207,921
United Natural Foods Inc. (a)	9,769		256,436
Universal Corp.	5,724		189,522
Vector Group Ltd.	8,582		122,637
Village Super Market Inc. Class A	1,434		42,661
Weis Markets Inc.	2,424		81,252
Winn-Dixie Stores Inc. (a)	12,556		157,452
Zep Inc.	4,690		56,514
Zhongpin Inc. (a)	4,525		46,879

			4,682,220

Durable Products (7.50%)
ACCO Brands Corp. (a)	11,895		33,544
Actuant Corp. Class A	12,827		156,489
Advanced Energy Industries Inc. (a)	7,170		64,458
Aerovironment Inc. (a)	3,087		95,265
Alamo Group Inc.	1,355		13,686
Albany International Corp. Class A	6,520		74,198
Altra Holdings Inc. (a)	5,797		43,420
American Ecology Corp.	4,219		75,604
American Superconductor Corp. (a)	9,864		258,930
AO Smith Corp.	5,090		165,781
Applied Industrial Technologies Inc.	9,606		189,238
ARGON ST Inc. (a)	3,117		64,117
Arris Group Inc. (a)	28,259		343,629
Ascent Solar Technologies Inc. (a)	3,647		28,520


	Shares	Value
Common Stocks (Cont.)
Durable Products (Cont.)
Astec Industries Inc. (a)	4,045	$	120,096
Astronics Corp. (a)	2,173		22,577
ATMI Inc. (a)	7,055		109,564
Audiovox Corp. (a)	3,821		22,391
Axsys Technologies Inc. (a)	2,133		114,414
AZZ Inc. (a)	2,760		94,972
Badger Meter Inc.	3,321		136,161
Baldor Electric Co.	10,572		251,508
Beazer Homes USA Inc. (a)	8,686		15,895
Belden Inc.	10,550		176,185
Blount International Inc. (a)	8,487		73,073
Brady Corp.	10,881		273,331
Briggs & Stratton Corp.	11,474		153,063
Brooks Automation Inc. (a)	14,541		65,144
Cascade Corp.	1,993		31,350
Cavco Industries Inc. (a)	1,418		35,918
Chart Industries Inc. (a)	6,460		117,443
Cognex Corp.	9,029		127,580
Cohu Inc.	5,061		45,448
Colfax Corp. (a)	6,035		46,590
Columbus McKinnon Corp. (a)	4,169		52,738
CTS Corp.	7,224		47,317
Curtiss-Wright Corp.	10,309		306,487
Cymer Inc. (a)	6,765		201,123
Darling International Inc. (a)	19,376		127,882
DDi Corp. (a)	3,392		15,366
Dionex Corp. (a)	3,978		242,777
Ducommun Inc.	2,316		43,518
DXP Enterprises Inc. (a)	1,570		18,008
Eastern Co.	1,401		23,117
Electro Scientific Industries Inc. (a)	6,284		70,255
EMCORE Corp. (a)	16,110		20,299
Energy Recovery Inc. (a)	7,814		55,323
EnPro Industries Inc. (a)	4,385		78,974
Entegris Inc. (a)	25,086		68,234
ESCO Technologies Inc. (a)	5,963		267,142
Esterline Technologies Corp. (a)	6,730		182,181
FARO Technologies Inc. (a)	3,661		56,855
Federal Signal Corp.	11,887		90,936
FEI Co. (a)	8,520		195,108
Flanders Corp. (a)	3,514		21,471
Flow International Corp. (a)	8,247		19,380
Franklin Electric Co. Inc.	5,372		139,242
Fuel Tech Inc. (a)	4,092		39,692
Fushi Copperweld Inc. (a)	3,163		26,158
GenCorp Inc. (a)	12,693		24,244
GenTek Inc. (a)	1,972		44,035
Graham Corp.	2,178		28,967
Harbin Electric Inc. (a)	2,643		41,337
Heico Corp.	5,271		191,126
Heritage-Crystal Clean Inc. (a)	977		11,871
Herman Miller Inc.	12,389		190,047
hhgregg Inc. (a)	2,421		36,702


	Shares	Value
Common Stocks (Cont.)
Durable Products (Cont.)
HNI Corp.	10,129	$	182,930
Hovnanian Enterprises Inc. (a)	10,174		24,011
Hurco Companies Inc. (a)	1,407		21,991
InterDigital Inc. (a)	9,903		242,029
Interface Inc.	11,625		72,075
Intevac Inc. (a)	4,909		42,757
John Bean Technologies Corp.	6,404		80,178
K-Tron International Inc. (a)	532		42,390
Kadant Inc. (a)	3,056		34,502
Kaman Corp.	6,135		102,455
Knoll Inc.	10,631		80,583
Kulicke & Soffa Industries Inc. (a)	14,500		49,735
Lindsay Corp.	2,777		91,919
Littelfuse Inc. (a)	4,959		98,982
LMI Aerospace Inc. (a)	1,901		19,238
M/I Homes Inc. (a)	4,289		41,989
MasTec Inc. (a)	12,081		141,589
Measurement Specialties Inc. (a)	3,091		21,792
Meritage Homes Corp. (a)	7,004		132,095
Met-Pro Corp.	3,296		35,663
Metalico Inc. (a)	5,308		24,735
Middleby Corp. (a)	3,664		160,923
Mine Safety Appliances Co.	6,171		148,721
MKS Instruments Inc. (a)	11,275		148,717
Mobile Mini Inc. (a)	7,961		116,788
Moog Inc. Class A	9,678		249,789
NACCO Industries Inc. Class A	1,318		37,853
Nordson Corp.	7,578		292,966
Oil-Dri Corporation of America	1,213		18,013
OpNext Inc. (a)	4,528		9,690
Orbital Sciences Corp. (a)	13,055		198,044
Orion Energy Systems Inc. (a)	4,775		17,906
OYO Geospace Corp. (a)	826		21,195
Perma-Fix Environmental Services (a)	12,646		30,603
Photronics Inc. (a)	9,189		37,215
Plantronics Inc.	11,333		214,307
PMFG Inc. (a)	2,844		25,056
Powell Industries Inc. (a)	1,722		63,835
Power-One Inc. (a)	17,668		26,325
Powerwave Technologies Inc. (a)	28,851		46,450
Preformed Line Products Co.	517		22,779
RAE Systems Inc. (a)	9,670		13,345
Raser Technologies Inc. (a)	12,620		35,336
Regal-Beloit Corp.	8,171		324,552
Robbins & Myers Inc.	6,161		118,599
Rofin-Sinar Technologies Inc. (a)	6,548		131,026
Rudolph Technologies Inc. (a)	6,771		37,376
Ryland Group Inc.	9,683		162,674
SatCon Technology Corp. (a)	12,108		21,794
Sauer-Danfoss Inc.	2,436		14,933
Semitool Inc. (a)	5,123		23,668
Skyline Corp.	1,501		32,647
SmartHeat Inc. (a)	1,593		10,912


	Shares	Value
Common Stocks (Cont.)
Durable Products (Cont.)
Smith & Wesson Holding Corp. (a)	12,378	$	70,307
Standard Pacific Corp. (a)	23,220		47,137
Standex International Corp.	2,808		32,573
Steelcase Inc.	16,589		96,548
Sun Hydraulics Corp.	2,853		46,133
Symmetricom Inc. (a)	9,478		54,688
TAL International Group Inc.	3,230		35,207
Taser International Inc. (a)	14,850		67,716
Team Inc. (a)	4,330		67,851
Technitrol Inc.	8,988		58,152
Tecumseh Products Co. Class A (a)	4,638		45,035
Teledyne Technologies Inc. (a)	8,197		268,452
Tennant Co.	4,332		79,666
Textainer Group Holdings Ltd.	2,096		24,251
The Gormann-Rupp Co.	3,206		64,665
Titan International Inc.	8,188		61,164
Titan Machinery Inc. (a)	3,025		38,387
Triumph Group Inc.	3,762		150,480
Twin Disc Inc.	1,842		12,544
Ultratech Inc. (a)	5,186		63,840
Veeco Instruments Inc. (a)	7,033		81,512
Vicor Corp.	4,252		30,699
Watts Water Technologies Inc.	6,779		146,020
Woodward Governor Co.	13,714		271,537
X-Rite Inc. (a)	6,250		9,375
Zygo Corp. (a)	3,302		15,387

			12,954,495

Financial Services (20.18%)
1st Source Corp.	3,385		58,459
Abington Bancorp Inc.	5,360		42,666
Acadia Realty Trust	8,897		116,106
Advance America Cash Advance Centers Inc.	9,722		43,068
Advent Software Inc. (a)	3,537		115,978
Agree Realty Corp.	1,730		31,711
Aircastle Ltd.	10,241		75,271
Alexander’s Inc.	468		126,173
Alliance Financial Corp.	962		27,282
Allied Capital Corp.	41,483		144,361
Ambac Financial Group Inc.	62,982		57,943
American Campus Communities Inc.	11,829		262,367
American Capital Agency Corp.	2,189		50,281
American Capital Ltd.	49,980		160,436
American Equity Investment Life Holding Co.	11,990		66,904
American National Bankshares Inc.	1,429		27,551
American Physicians Capital Inc.	1,672		65,476
American Physicians Service Group Inc.	1,491		33,831
American Realty Investors Inc. (a)	982		10,016


	Shares	Value
Common Stocks (Cont.)
Financial Services (Cont.)
American Safety Insurance Holdings Ltd. (a)	1,989	$	27,070
Ameris Bancorp	2,760		17,443
Amerisafe Inc. (a)	4,129		64,247
Ames National Corp.	1,410		34,418
Ampal-American Israel Corp. Class A (a)	4,533		11,061
AmTrust Financial Services Inc.	5,288		60,283
Anthracite Capital Inc.	12,047		7,469
Anworth Mortgage Asset Corp.	23,721		171,028
Apollo Investment Corp.	32,371		194,226
Ares Capital Corp.	22,616		182,285
Argo Group International Holdings Ltd. (a)	7,033		198,471
Arrow Financial Corp.	2,001		54,027
Ashford Hospitality Trust Inc.	14,326		40,256
Asset Acceptance Capital Corp. (a)	3,279		25,216
Associated Estates Realty Corp.	3,257		19,412
Assured Guaranty Ltd.	14,093		174,471
Astoria Financial Corp.	19,830		170,141
Auburn National Bancorporation Inc.	555		15,818
Avatar Holdings Inc. (a)	1,336		24,275
Baldwin & Lyons Inc.	1,878		36,997
BancFirst Corp.	1,511		52,250
Banco Latinoamericano de Exportaciones SA	5,988		74,431
Bancorp Inc. (a)	2,633		15,798
Bancorp Rhode Island Inc.	860		16,951
Bank Mutual Corp.	11,083		96,644
Bank of Kentucky Financial Corp.	727		20,356
Bank of Marin Bancorp	1,209		32,583
Bank of the Ozarks Inc.	2,951		63,830
BankFinancial Corp.	4,925		43,636
Bankrate Inc. (a)	2,795		70,546
Banner Corp.	3,073		11,739
Bar Harbor Bankshares	676		20,855
Beneficial Mutual Bancorp Inc. (a)	7,546		72,442
Berkshire Hills Bancorp Inc.	3,188		66,247
BGC Partners Inc. Class A	10,804		40,947
BioMed Realty Trust Inc.	22,685		232,068
BlackRock Kelso Capital Corp.	2,843		17,712
Boston Private Financial Holdings Inc.	15,761		70,609
Bridge Bancorp Inc.	1,451		39,496
Broadpoint Gleacher Securities Inc. (a)	8,358		46,638
Brookline Bancorp Inc.	13,624		126,976
Brooklyn Federal Bancorp Inc.	733		8,246
Bryn Mawr Bank Corp.	1,505		28,399
Calamos Asset Management Inc. Class A	4,572		64,511
California First National Bancorp	849		9,679
Camden National Corp.	1,686		57,375
Cape Bancorp Inc. (a)	2,761		23,827
Capital City Bank Group Inc.	2,640		44,484


	Shares	Value
Common Stocks (Cont.)
Financial Services (Cont.)
Capital Southwest Corp.	669	$	48,402
CapLease Inc.	10,014		27,639
Capstead Mortgage Corp.	14,570		185,185
Cardinal Financial Corp.	6,635		51,952
Cardtronics Inc. (a)	2,497		9,514
Care Investment Trust Inc.	2,905		15,106
Cash America International Inc.	6,782		158,631
Cass Information Systems Inc.	1,917		62,763
Cathay General Bancorp	11,207		106,579
CBL & Associates Properties Inc.	16,542		89,161
Cedar Shopping Centers Inc.	8,414		38,031
Center Bancorp Inc.	2,585		21,068
Centerstate Banks of Florida Inc.	2,020		14,988
Central Pacific Financial Corp.	6,221		23,329
Century Bancorp Inc. Class A	832		15,342
Chemical Financial Corp.	4,920		97,957
Cheviot Financial Corp.	1,064		8,512
Chicopee Bancorp Inc. (a)	1,520		19,714
Citizens & Northern Corp.	1,964		40,399
Citizens Holding Co.	931		29,047
Citizens Inc. (a)	8,189		49,789
Citizens Republic Bancorp Inc. (a)	27,649		19,631
City Holding Co.	3,631		110,237
Clifton Savings Bancorp Inc.	2,287		24,608
CNA Surety Corp. (a)	3,748		50,561
CNB Financial Corp.	2,024		28,680
CoBiz Financial Inc.	4,130		26,473
Cohen & Steers Inc.	3,684		55,076
Colonial BancGroup Inc.	44,337		27,489
Colonial Properties Trust	11,868		87,823
Columbia Banking Systems Inc.	3,985		40,767
Community Bank System Inc.	7,608		110,772
Community Trust Bancorp Inc.	3,525		94,294
CompuCredit Corp. (a)	4,225		9,718
Conseco Inc. (a)	42,931		101,746
Consolidated-Tomoka Land Co.	1,176		41,254
Cousins Properties Inc.	8,455		71,867
Crawford & Co. Class B (a)	4,811		23,093
Credit Acceptance Corp. (a)	1,302		28,449
CVB Financial Corp.	15,533		92,732
CyberSource Corp. (a)	15,702		240,241
Danvers Bancorp Inc.	3,911		52,603
DCT Industrial Trust Inc.	40,830		166,586
Delphi Financial Group Inc.	9,820		190,803
Deluxe Corp.	11,706		149,954
Developers Diversified Realty Corp.	31,900		155,672
Diamond Hill Investment Group (a)	451		18,121
DiamondRock Hospitality Co.	24,222		151,630
Dime Community Bancshares	6,297		57,366
Dollar Financial Corp. (a)	5,319		73,349
Donegal Group Inc.	2,812		42,771
Doral Financial Corp. (a)	1,174		2,935
Duff & Phelps Corp. Class A	3,770		67,031


	Shares	Value
Common Stocks (Cont.)
Financial Services (Cont.)
DuPont Fabros Technology Inc.	6,159	$	58,018
Dynex Capital Inc.	2,642		21,664
E*TRADE Financial Corp. (a)	112,024		143,391
Eagle Bancorp Inc. (a)	2,329		20,425
East West Bancorp Inc.	14,776		95,896
Eastern Insurance Holdings Inc.	1,846		17,371
EastGroup Properties Inc.	5,675		187,388
Education Realty Trust Inc.	6,267		26,885
eHealth Inc. (a)	5,471		96,618
Electro Rent Corp.	4,145		39,336
EMC Insurance Group Inc.	1,133		23,578
Employers Holdings Inc.	10,676		144,660
Encore Capital Group Inc. (a)	3,198		42,374
Enstar Group Ltd. (a)	1,550		91,217
Enterprise Bancorp Inc.	1,193		14,077
Enterprise Financial Services Corp.	2,423		22,025
Entertainment Properties Trust	7,842		161,545
Epoch Holding Corp.	2,964		25,609
Equity Lifestyle Properties Inc.	4,742		176,308
Equity One Inc.	7,569		100,365
ESB Financial Corp.	2,149		28,195
ESSA Bancorp Inc.	3,722		50,880
Euronet Worldwide Inc. (a)	11,012		213,523
Evercore Partners Inc.	2,367		46,488
Exlservice Holdings Inc. (a)	3,119		34,964
Extra Space Storage Inc.	20,653		172,453
Fair Isaac Corp.	11,064		171,049
Farmers Capital Bank Corp.	1,358		34,181
FBL Financial Group Inc.	2,889		23,863
FBR Capital Markets Corp. (a)	3,960		18,612
FCStone Group Inc. (a)	7,279		28,752
FelCor Lodging Trust Inc.	13,814		33,982
Fifth Street Finance Corp.	4,600		46,184
Financial Federal Corp.	5,829		119,786
Financial Institutions Inc.	2,403		32,825
First Acceptance Corp. (a)	3,296		7,020
First Bancorp (North Carolina)	3,147		49,345
First BanCorp (Puerto Rico)	19,017		75,117
First Bancorp Inc.	1,896		36,915
First Busey Corp.	6,141		45,136
First California Financial Group Inc. (a)	1,589		9,804
First Cash Financial Services Inc. (a)	5,335		93,469
First Commonwealth Financial Corp.	19,279		122,229
First Community Bancshares Inc.	2,044		26,245
First Defiance Financial Corp.	1,905		24,765
First Financial Bancorp	8,226		61,860
First Financial Bankshares Inc.	4,667		235,030
First Financial Corp. Indiana	2,591		81,824
First Financial Holdings Inc.	2,655		24,957
First Financial Northwest Inc.	4,227		33,055
First Financial Service Corp.	953		16,592
First Industrial Realty Trust Inc.	9,734		42,343
First Marblehead Corp. (a)	15,151		30,605


	Shares	Value
Common Stocks (Cont.)
Financial Services (Cont.)
First Merchants Corp.	4,813	$	38,648
First Mercury Financial Corp.	3,186		43,871
First Midwest Bancorp Inc.	10,668		77,983
First of Long Island Corp.	1,264		29,249
First Potomac Realty Trust	6,563		63,989
First South Bancorp Inc.	1,918		22,249
FirstMerit Corp.	18,734		318,103
Flagstar Bancorp Inc. (a)	18,788		12,776
Flagstone Reinsurance Holdings Ltd.	9,086		93,586
Flushing Financial Corp.	4,784		44,730
FNB Corp. (PA)	21,372		132,293
Fox Chase Bancorp Inc. (a)	1,345		12,899
FPIC Insurance Group Inc. (a)	1,729		52,942
Franklin Street Properties Corp.	13,748		182,161
GAMCO Investors Inc.	1,663		80,655
German American Bancorp Inc.	2,586		37,264
Getty Realty Corp.	3,991		75,310
GFI Group Inc.	14,513		97,818
Glacier Bancorp Inc.	14,418		212,954
Gladstone Capital Corp.	4,627		34,841
Gladstone Commercial Corp.	2,004		25,972
Gladstone Investment Corp.	4,835		23,353
Glimcher Realty Trust	8,307		24,090
Global Cash Access Holdings Inc. (a)	9,023		71,823
Gramercy Capital Corp. (a)	9,141		14,717
Great Southern Bancorp Inc.	2,100		43,155
Greenlight Capital Re Ltd. Class A (a)	6,326		109,503
Guaranty Bancorp (a)	12,018		22,954
H&E Equipment Services Inc. (a)	6,357		59,438
Hallmark Financial Services Inc. (a)	2,862		20,463
Hampton Roads Bankshares Inc.	4,313		35,582
Hancock Holding Co.	5,364		174,276
Harleysville Group Inc.	2,994		84,491
Harleysville National Corp.	9,408		44,218
Harris & Harris Group Inc. (a)	5,103		29,750
Hatteras Financial Corp.	8,388		239,813
Healthcare Realty Trust Inc.	13,449		226,347
Heartland Financial USA Inc.	2,871		40,998
Heartland Payment Systems Inc.	8,707		83,326
Hercules Technology Growth Capital Inc.	7,707		64,431
Heritage Financial Corp.	1,318		15,236
Heritage Financial Group	462		3,959
Hersha Hospitality Trust	9,181		22,769
Highwoods Properties Inc.	16,117		360,537
Home Bancorp Inc. (a)	2,094		25,002
Home Bancshares Inc.	3,120		59,405
Home Federal Bancorp Inc.	3,895		39,690
Home Properties Inc.	7,419		252,988
Horace Mann Educators Corp.	8,790		87,636
Huron Consulting Group Inc. (a)	4,873		225,279
IBERIABANK Corp.	3,614		142,428
Independence Holding Co.	1,268		8,064


	Shares	Value
Common Stocks (Cont.)
Financial Services (Cont.)
Independent Bank Corp. (MA)	4,664	$	91,881
Infinity Property & Casualty Corp.	3,034		110,620
Inland Real Estate Corp.	16,352		114,464
International Assets Holding Corp. (a)	923		13,725
International Bancshares Corp.	11,714		120,771
Investors Bancorp Inc. (a)	10,784		98,781
Investors Real Estate Trust	13,866		123,269
IPC Holdings Ltd.	12,774		349,241
iStar Financial Inc.	23,178		65,826
JMP Group Inc.	3,431		26,384
K-Fed Bancorp	1,049		9,630
Kansas City Life Insurance Co.	1,005		27,045
Kayne Anderson Energy Development Co.	2,444		32,407
KBW Inc. (a)	7,894		227,031
Kearny Financial Corp.	4,186		47,888
Kentucky First Federal Bancorp	838		10,182
Kilroy Realty Corp.	8,118		166,744
Kite Realty Group Trust	9,198		26,858
Knight Capital Group Inc. Class A (a)	21,277		362,773
Kohlberg Capital Corp.	3,792		23,965
LaBranche & Co. Inc. (a)	13,612		58,532
Lakeland Bancorp Inc.	4,500		40,455
Lakeland Financial Corp.	2,682		50,958
LaSalle Hotel Properties	12,355		152,461
Legacy Bancorp Inc.	1,734		19,247
Lexington Realty Trust	19,528		66,395
Life Partners Holdings Inc.	1,621		22,986
LTC Properties Inc.	5,542		113,334
Maiden Holdings Ltd.	10,780		70,717
Main Street Capital Corp.	1,663		22,766
MainSource Financial Group Inc.	4,982		36,966
MarketAxess Holdings Inc. (a)	7,803		74,363
Max Capital Group Ltd.	10,398		191,947
MB Financial Inc.	8,053		82,060
MCG Capital Corp. (a)	15,129		36,763
McGrath Rentcorp	5,561		105,993
Meadowbrook Insurance Group Inc.	14,047		91,727
Medallion Financial Corp.	3,251		24,870
Medical Properties Trust Inc.	17,941		108,902
Mercer Insurance Group Inc.	1,313		20,877
Merchants Bancshares Inc.	1,122		24,897
Meridian Interstate Bancorp Inc. (a)	2,297		17,113
Metro Bancorp Inc. (a)	1,134		21,841
MF Global Ltd. (a)	22,456		133,164
MFA Financial Inc.	51,634		357,307
MGIC Investment Corp.	29,038		127,767
Mid-America Apartment Communities Inc.	6,351		233,145
MidSouth Bancorp Inc.	1,080		18,144
Mission West Properties Inc.	4,317		29,485
MoneyGram International Inc. (a)	19,324		34,397


	Shares	Value
Common Stocks (Cont.)
Financial Services (Cont.)
Monmouth Real Estate Investment Corp. Class A	4,326	$	25,350
Montpelier Re Holdings Ltd.	19,721		262,092
Move Inc. (a)	35,845		77,425
MVC Capital Inc.	5,331		45,100
Nara Bancorp Inc.	4,776		24,740
NASB Financial Inc.	797		22,794
National Bankshares Inc.	1,617		38,808
National Financial Partners Corp.	9,338		68,354
National Health Investors Inc.	5,832		155,773
National Interstate Corp.	1,344		20,402
National Penn Bancshares Inc.	20,448		94,265
National Retail Properties Inc.	18,220		316,117
National Western Life Insurance Co.	508		59,309
Navigators Group Inc. (a)	2,888		128,314
NBT Bancorp Inc.	7,713		167,449
Nelnet Inc. Class A (a)	4,374		59,443
NewAlliance Bancshares Inc.	24,424		280,876
NewStar Financial Inc. (a)	5,235		9,999
NGP Capital Resources Co.	4,746		27,859
Northeast Community Bancorp Inc.	1,399		11,346
Northfield Bancorp Inc.	4,198		48,781
Northrim BanCorp Inc.	1,489		20,727
NorthStar Realty Finance Corp.	13,140		37,186
Northwest Bancorp Inc.	3,850		72,611
Norwood Financial Corp.	445		13,955
NYMAGIC Inc.	1,234		17,128
OceanFirst Financial Corp.	1,936		23,174
Ocwen Financial Corp. (a)	8,952		116,107
Ohio Valley Banc Corp.	933		27,374
Old National Bancorp	15,193		149,195
Old Point Financial Corp.	524		9,694
Old Second Bancorp Inc.	2,479		14,626
Omega Healthcare Investors Inc.	19,092		296,308
Online Resources Corp. (a)	6,193		38,644
Oppenheimer Holdings Inc. Class A	2,102		44,499
optionsXpress Holdings Inc.	9,623		149,445
Oriental Financial Group Inc.	5,331		51,711
Oritani Financial Corp. (a)	2,339		32,068
Orrstown Financial Services Inc.	1,194		44,465
Pacific Capital Bancorp	10,180		21,785
Pacific Continental Corp.	3,171		38,464
PacWest Bancorp	5,738		75,512
Park National Corp.	2,426		137,020
Parkway Properties Inc.	4,850		63,050
Peapack-Gladstone Financial Corp.	1,819		35,089
PennantPark Investment Corp.	4,727		33,562
Penns Woods Bancorp Inc.	898		26,168
Pennsylvania Real Estate Investment Trust	7,732		38,660
Penson Worldwide Inc. (a)	4,668		41,779
Peoples Bancorp Inc.	2,164		36,896
Peoples Financial Corp.	893		16,967


	Shares	Value
Common Stocks (Cont.)
Financial Services (Cont.)
Phoenix Companies Inc. (a)	25,131	$	41,969
PICO Holdings Inc. (a)	4,197		120,454
Pinnacle Financial Partners Inc. (a)	5,679		75,644
Piper Jaffray Co. (a)	4,451		194,375
Platinum Underwriters Holdings Ltd.	11,771		336,533
PMA Capital Corp. (a)	7,092		32,269
PMI Group Inc.	17,810		35,264
Porter Bancorp Inc.	696		10,544
Portfolio Recovery Associates Inc. (a)	3,459		133,967
Post Properties Inc.	10,263		137,935
Potlatch Corp.	9,068		220,262
PremierWest Bancorp	4,446		15,072
Presidential Life Corp.	4,808		36,397
Primus Guaranty Ltd. (a)	5,119		12,081
PrivateBancorp Inc.	7,865		174,918
ProAssurance Corp. (a)	7,523		347,638
Prospect Capital Corp.	9,599		88,311
Prosperity Bancshares Inc.	10,512		313,573
Provident Financial Services Inc.	13,773		125,334
Provident New York Bancorp	8,010		65,041
Prudential Bancorp Inc. of Pennsylvania	956		11,290
PS Business Parks Inc.	3,396		164,502
Pzena Investment Management Inc. Class A	1,311		9,937
QC Holdings Inc.	1,687		8,671
Radian Group Inc.	17,615		47,913
RAIT Financial Trust	13,604		18,637
Ramco-Gershenson Properties Trust	3,737		37,407
Redwood Trust Inc.	17,616		260,012
Renasant Corp.	4,597		69,047
Republic Bancorp Inc. (Kentucky)	2,036		45,993
Republic First Bancorp Inc. (a)	1,704		13,291
Resource America Inc.	2,649		14,252
Rewards Network Inc. (a)	4,522		17,093
Riskmetrics Group Inc. (a)	4,998		88,265
RLI Corp.	4,173		186,950
Rockville Financial Inc.	1,779		19,480
Roma Financial Corp.	2,179		27,760
S&T Bancorp Inc.	5,473		66,552
Safety Insurance Group Inc.	3,067		93,728
Sanders Morris Harris Group Inc.	4,259		23,425
Sandy Spring Bancorp Inc.	3,602		52,949
Santander BanCorp (a)	864		6,013
Saul Centers Inc.	1,486		43,941
SCBT Financial Corp.	2,804		66,427
Seabright Insurance Holdings (a)	4,651		47,115
Selective Insurance Group Inc.	12,242		156,330
Shore Bancshares Inc.	1,840		33,010
Sierra Bancorp	1,626		20,536
Signature Bank (a)	7,954		215,712
Simmons First National Corp.	3,107		83,019
Smithtown Bancorp Inc.	3,420		43,742


	Shares	Value
Common Stocks (Cont.)
Financial Services (Cont.)
South Financial Group Inc.	23,498	$	27,963
Southside Bancshares Inc.	3,019		69,045
Southwest Bancorp Inc.	3,244		31,661
Sovran Self Storage Inc.	5,262		129,445
State Auto Financial Corp.	3,126		54,705
State Bancorp Inc.	3,136		23,708
StellarOne Corp.	4,955		64,167
Sterling Bancorp NY	3,935		32,857
Sterling Bancshares Inc. TX	18,413		116,554
Sterling Financial Corp. WA	11,875		34,556
Stewart Information Services Corp.	3,746		53,380
Stifel Financial Corp. (a)	6,213		298,783
Strategic Hotels & Resorts Inc.	16,341		18,139
Suffolk Bancorp	2,063		52,895
Sun Bancorp Inc. (New Jersey) (a)	3,251		16,840
Sun Communities Inc.	3,611		49,760
Sunstone Hotel Investors Inc.	16,804		89,901
Susquehanna Bancshares Inc.	19,654		96,108
SVB Financial Group (a)	7,467		203,252
SWS Group Inc.	5,343		74,642
SY Bancorp Inc.	2,648		64,002
Tanger Factory Outlet Centers Inc.	8,354		270,920
Teton Advisors Inc. (a) (b)	25		57
Texas Capital Bancshares Inc. (a)	8,264		127,844
Thomas Weisel Partners Group Inc. (a)	4,908		29,546
TICC Capital Corp.	6,228		27,465
TNS Inc. (a)	5,631		105,581
Tompkins Financial Corp.	1,813		86,933
Tower Bancorp Inc.	816		28,682
Tower Group Inc.	9,167		227,158
TowneBank	4,554		63,756
TradeStation Group Inc. (a)	7,702		65,159
Transcontinental Realty Investors Inc. (a)	317		3,826
Tree.com Inc. (a)	1,518		14,573
Triangle Capital Corp.	1,749		19,099
Trico Bancshares	3,216		49,848
Trustco Bank Corp. NY	17,749		104,897
Trustmark Corp.	13,038		251,894
U-Store-It Trust	10,873		53,278
U.S. Global Investors Inc. Class A	2,775		25,697
UCBH Holdings Inc.	31,575		39,785
UMB Financial Corp.	7,329		278,575
UMH Properties Inc.	2,068		16,482
Umpqua Holdings Corp.	14,133		109,672
Union Bankshares Corp.	2,955		44,236
United America Indemnity Ltd. Class A (a)	7,881		37,750
United Bankshares Inc.	8,694		169,881
United Capital Corp. (a)	386		7,072
United Community Banks Inc. (a)	9,910		59,361
United Financial Bancorp Inc.	3,893		53,801
United Fire & Casualty Co.	4,998		85,716


	Shares	Value
Common Stocks (Cont.)
Financial Services (Cont.)
United Security Bancshares Inc.	1,409	$	30,857
Universal American Corp. (a)	6,257		54,561
Universal Health Realty Income Trust	2,565		80,849
Universal Insurance Holdings Inc.	3,123		15,677
Univest Corp. of Pennsylvania	2,807		56,870
Urstadt Biddle Properties Inc.	4,525		63,712
ViewPoint Financial Group	2,260		34,420
Virtus Investment Partners Inc. (a)	1,256		18,451
Walter Investment Management Corp. (a)	4,155		55,178
Washington Banking Co.	2,242		21,120
Washington Real Estate Investment Trust	13,265		296,738
Washington Trust Bancorp Inc.	3,132		55,844
Waterstone Financial Inc. (a)	1,525		4,529
Webster Financial Corp.	12,272		98,790
WesBanco Inc.	5,324		77,411
West Bancorporation	3,812		19,060
Westamerica Bancorporation	6,653		330,055
Western Alliance Bancorp (a)	10,660		72,914
Westfield Financial Inc.	6,950		62,967
Westwood Holdings Group Inc.	1,296		54,186
Wilber Corp.	1,377		15,285
Willis Lease Finance Corp. (a)	1,121		14,708
Wilshire Bancorp Inc.	4,217		24,248
Winthrop Realty Trust	2,300		20,539
Wintrust Financial Corp.	5,484		88,183
World Acceptance Corp. (a)	3,638		72,433
Wright Express Corp. (a)	8,739		222,582
WSFS Financial Corp.	1,364		37,251
Yadkin Valley Financial Corp.	4,347		30,038
Zenith National Insurance Corp.	8,173		177,681

			34,854,174

Health Care (14.45%)
Abaxis Inc. (a)	5,004		102,782
Abiomed Inc. (a)	6,876		60,646
Accelrys Inc. (a)	5,864		34,656
Accuray Inc. (a)	9,344		62,324
Acorda Therapeutics Inc. (a)	8,579		241,842
Acura Pharmaceuticals Inc. (a)	1,778		10,632
Adolor Corp. (a)	10,092		17,762
Affymax Inc. (a)	3,209		59,142
Affymetrix Inc. (a)	16,097		95,455
Air Methods Corp. (a)	2,354		64,405
Akorn Inc. (a)	12,611		15,133
Albany Molecular Research Inc. (a)	5,087		42,680
Align Technology Inc. (a)	13,147		139,358
Alkermes Inc. (a)	21,782		235,681
Alliance HealthCare Services Inc. (a)	5,809		42,580
Allied Healthcare International Inc. (a)	10,573		22,943
Allion Healthcare Inc. (a)	4,657		27,709


	Shares	Value
Common Stocks (Cont.)
Health Care (Cont.)
Allos Therapeutics Inc. (a)	14,476	$	120,006
Almost Family Inc. (a)	1,584		41,358
Alnylam Pharmaceuticals Inc. (a)	8,241		183,527
Alphatec Holdings Inc. (a)	5,450		18,094
AMAG Pharmaceuticals Inc. (a)	3,841		209,987
Amedisys Inc. (a)	6,340		209,347
America Service Group Inc. (a)	1,934		31,079
American Caresource Holdings Inc. (a)	2,674		10,001
American Dental Partners Inc. (a)	3,034		27,518
American Medical Systems Holdings Inc. (a)	16,785		265,203
American Oriental Bioengineering Inc. (a)	13,552		71,690
AMERIGROUP Corp. (a)	12,028		322,952
Amicus Therapeutics Inc. (a)	3,542		40,556
Amsurg Corp. (a)	7,094		152,095
Analogic Corp.	2,943		108,744
Angiodynamics Inc. (a)	5,306		70,411
Ardea Biosciences Inc. (a)	3,117		49,062
Arena Pharmaceuticals Inc. (a)	18,593		92,779
Ariad Pharmaceuticals Inc. (a)	21,727		34,546
ArQule Inc. (a)	9,294		57,065
Array Biopharma Inc. (a)	10,688		33,560
ARYx Therapeutics Inc. (a)	4,890		20,196
Aspect Medical Systems Inc. (a)	4,091		24,178
Assisted Living Concepts Inc. Class A (a)	2,407		35,022
athenahealth Inc. (a)	7,620		282,016
Atrion Corp.	329		44,116
ATS Medical Inc. (a)	11,075		36,437
Auxilium Pharmaceuticals Inc. (a)	9,683		303,853
AVANIR Pharmaceuticals Inc. Class A (a)	14,204		31,533
AVI BioPharma Inc. (a)	18,000		28,440
Bio-Reference Labs Inc. (a)	2,601		82,218
BioCryst Pharmaceuticals Inc. (a)	5,043		20,323
Biodel Inc. (a)	3,332		17,193
BioDelivery Sciences International Inc. (a)	2,232		14,887
BioMimetic Therapeutics Inc. (a)	2,903		26,824
BioScrip Inc. (a)	9,746		57,696
BioSpecifics Technologies Corp. (a)	851		20,279
BMP Sunstone Corp. (a)	7,568		35,872
Bovie Medical Corp. (a)	3,977		34,640
Bruker Corp. (a)	11,096		102,749
Cadence Pharmaceuticals Inc. (a)	5,857		58,511
Cambrex Corp. (a)	6,570		27,068
Cantel Medical Corp. (a)	2,732		44,340
Capital Senior Living Corp. (a)	4,614		20,994
Caraco Pharmaceutical Laboratories Ltd. (a)	2,208		6,779
Cardiac Science Corp. (a)	4,258		17,117
CardioNet Inc. (a)	5,518		90,054


	Shares	Value
Common Stocks (Cont.)
Health Care (Cont.)
Cardiovascular Systems Inc. (a)	2,136	$	16,469
Cardium Therapeutics Inc. (a)	9,182		16,987
Catalyst Health Solutions Inc. (a)	8,499		211,965
Celera Corp. (a)	18,545		141,498
Cell Therapeutics Inc. (a)	107,107		184,224
Celldex Therapeutics Inc. (a)	2,365		18,494
Centene Corp. (a)	9,793		195,664
Cepheid Inc. (a)	13,584		127,961
Chelsea Therapeutics International Ltd. (a)	5,548		23,357
China Sky One Medical Inc. (a)	2,437		32,851
Clarient Inc. (a)	7,019		26,111
Clinical Data Inc. (a)	2,270		25,015
Computer Programs & Systems Inc.	2,152		82,443
Conceptus Inc. (a)	6,925		117,033
Conmed Corp. (a)	6,615		102,665
Continucare Corp. (a)	6,910		16,100
Cornerstone Therapeutics Inc. (a)	1,538		16,887
Corvel Corp. (a)	1,758		40,030
Cougar Biotechnology Inc. (a)	3,506		150,618
CryoLife Inc. (a)	6,105		33,822
Cubist Pharmaceuticals Inc. (a)	13,024		238,730
Curis Inc. (a)	14,968		23,799
Cutera Inc. (a)	3,115		26,851
Cyberonics Inc. (a)	6,347		105,551
Cynosure Inc. Class A (a)	2,094		16,019
Cypress Bioscience Inc. (a)	8,706		82,011
Cytokinetics Inc. (a)	11,688		33,077
Cytori Therapeutics Inc. (a)	7,083		25,570
Delcath Systems Inc. (a)	5,339		19,114
DepoMed Inc. (a)	10,518		34,184
Dexcom Inc. (a)	10,757		66,586
Discovery Laboratories Inc. (a)	30,534		31,450
Durect Corp. (a)	18,266		43,473
Dyax Corp. (a)	12,182		26,069
Eclipsys Corp. (a)	12,737		226,464
Electro-Optical Sciences Inc. (a)	4,125		32,134
Emergency Medical Services Corp. Class A (a)	2,201		81,041
Emergent Biosolutions Inc. (a)	3,798		54,425
Emeritus Corp. (a)	4,320		57,067
Endologix Inc. (a)	10,260		34,268
Ensign Group Inc.	2,567		36,528
EnteroMedics Inc. (a)	3,609		12,018
Enzo Biochem Inc. (a)	7,253		32,131
Enzon Pharmaceuticals Inc. (a)	10,395		81,809
eResearch Technology Inc. (a)	9,493		58,952
ev3 Inc. (a)	16,432		176,151
Exactech Inc. (a)	1,888		27,376
Exelixis Inc. (a)	25,085		122,164
Facet Biotech Corp. (a)	5,242		48,698
Genomic Health Inc. (a)	2,995		51,903
Genoptix Inc. (a)	3,908		125,017


	Shares	Value
Common Stocks (Cont.)
Health Care (Cont.)
Gentiva Health Services Inc. (a)	6,718	$	110,578
Geron Corp. (a)	20,126		154,366
Greatbatch Inc. (a)	5,238		118,431
GTx Inc. (a)	4,085		37,705
Haemonetics Corp. (a)	5,811		331,227
Halozyme Therapeutics Inc. (a)	14,655		102,145
Hanger Orthopedic Group Inc. (a)	5,841		79,379
Hansen Medical Inc. (a)	5,606		27,694
Harvard Bioscience Inc. (a)	5,775		22,811
Health Grades Inc. (a)	5,587		21,845
Healthcare Services Group Inc.	9,887		176,780
Healthsouth Corp. (a)	20,119		290,518
Healthspring Inc. (a)	11,407		123,880
Healthways Inc. (a)	7,720		103,834
HeartWare International Inc. (a)	1,091		30,450
Hemispherx Biopharma Inc. (a)	25,749		65,402
Hi-Tech Pharmacal Co. Inc. (a)	1,915		17,044
HMS Holdings Corp. (a)	5,833		237,520
Home Diagnostics Inc. (a)	2,732		16,774
Human Genome Sciences Inc. (a)	29,747		85,076
I-Flow Corp. (a)	4,736		32,868
ICU Medical Inc. (a)	2,827		116,331
Idenix Pharmaceuticals Inc. (a)	5,477		20,155
Idera Pharmaceuticals Inc. (a)	4,508		26,417
Immucor Inc. (a)	16,082		221,288
ImmunoGen Inc. (a)	11,414		98,275
Immunomedics Inc. (a)	14,307		36,340
Impax Laboratories Inc. (a)	14,081		103,636
Incyte Corp. (a)	16,717		54,999
Infinity Pharmaceuticals Inc. (a)	4,208		24,575
Insmed Inc. (a)	29,222		29,222
Inspire Pharmaceuticals Inc. (a)	9,249		51,424
Insulet Corp. (a)	6,070		46,739
Integra LifeSciences Holdings Corp. (a)	4,371		115,875
InterMune Inc. (a)	8,862		134,702
Invacare Corp.	6,685		117,990
IPC The Hospitalist Co. (a)	3,737		99,741
IRIS International Inc. (a)	4,038		47,648
Isis Pharmaceuticals Inc. (a)	21,182		349,503
ISTA Pharmaceuticals Inc. (a)	7,764		32,609
Javelin Pharmaceuticals Inc. (a)	10,759		13,234
Kendle International Inc. (a)	3,270		40,025
Kensey Nash Corp. (a)	1,784		46,759
Kindred Healthcare Inc. (a)	9,054		111,998
KV Pharmaceutical Co. Class A (a)	7,460		23,947
Landauer Inc.	2,107		129,243
Lannett Company Inc. (a)	2,393		16,392
LCA-Vision Inc. (a)	3,890		16,416
Lexicon Pharmaceuticals Inc. (a)	17,580		21,799
LHC Group Inc. (a)	3,437		76,336
Life Sciences Research Inc. (a)	1,915		13,731
Ligand Pharmaceuticals Inc. Class B (a)	27,137		77,612
Luminex Corp. (a)	9,480		175,759


	Shares	Value
Common Stocks (Cont.)
Health Care (Cont.)
Magellan Health Services Inc. (a)	8,043	$	263,971
MAKO Surgical Corp. (a)	3,061		27,610
MannKind Corp. (a)	11,864		98,590
MAP Pharmaceuticals Inc. (a)	1,706		20,847
Martek Biosciences Corp. (a)	7,597		160,677
Masimo Corp. (a)	11,530		277,988
Matrixx Initiatives Inc. (a)	2,257		12,617
Maxygen Inc. (a)	6,036		40,562
Medarex Inc. (a)	29,177		243,628
MedAssets Inc. (a)	8,869		172,502
Medcath Corp. (a)	3,490		41,042
Medical Action Industries Inc. (a)	3,253		37,247
Medicines Co. (a)	12,146		101,905
Medicis Pharmaceutical Corp.	13,323		217,431
Medivation Inc. (a)	6,426		144,007
MedQuist Inc.	2,185		13,285
Merge Healthcare Inc. (a)	6,087		26,174
Meridian Bioscience Inc.	9,256		209,000
Merit Medical Systems Inc. (a)	6,391		104,173
Metabolix Inc. (a)	4,159		34,187
Metropolitan Health Networks Inc. (a)	9,512		19,119
Micromet Inc. (a)	9,916		49,382
Micrus Endovascular Corp. (a)	3,408		30,808
MiddleBrook Pharmaceuticals Inc. (a)	7,842		10,587
Molecular Insight Pharmaceuticals Inc. (a)	3,868		19,998
Molina Healthcare Inc. (a)	2,978		71,234
Momenta Pharmaceuticals Inc. (a)	8,171		98,297
Myriad Pharmaceuticals Inc. (a)	5,336		24,812
Nabi Biopharmaceuticals (a)	11,390		27,564
Nanosphere Inc. (a)	2,818		13,836
National Healthcare Corp.	1,863		70,682
National Research Corp.	371		9,052
Natus Medical Inc. (a)	6,482		74,802
Nektar Therapeutics (a)	21,037		136,320
Neogen Corp. (a)	2,987		86,563
Neurocrine Biosciences Inc. (a)	8,635		27,891
NeurogesX Inc. (a)	2,452		13,829
Nighthawk Radiology Holdings Inc. (a)	5,496		20,335
NovaMed Inc. (a)	4,708		18,597
Novavax Inc. (a)	15,395		50,496
Noven Pharmaceuticals Inc. (a)	5,444		77,849
NPS Pharmaceuticals Inc. (a)	10,344		48,203
NuVasive Inc. (a)	8,273		368,976
NxStage Medical Inc. (a)	6,147		36,267
Obagi Medical Products Inc. (a)	3,884		28,314
Odyssey HealthCare Inc. (a)	7,191		73,923
Omnicell Inc. (a)	7,276		78,217
OncoGenex Pharmaceutical Inc. (a)	943		20,633
Onyx Pharmaceuticals Inc. (a)	12,934		365,515
Opko Health Inc. (a)	10,460		18,514
Optimer Pharmaceuticals Inc. (a)	6,293		94,206
OraSure Technologies Inc. (a)	10,350		25,565


	Shares	Value
Common Stocks (Cont.)
Health Care (Cont.)
Orexigen Therapeutics Inc. (a)	4,388	$	22,510
Orthofix International NV (a)	3,870		96,789
Orthovita Inc. (a)	14,487		74,608
Osiris Therapeutics Inc. (a)	3,677		49,382
Owens & Minor Inc.	9,503		416,421
OXiGENE Inc. (a)	6,468		14,100
Pain Therapeutics Inc. (a)	7,727		41,494
Palomar Medical Technologies Inc. (a)	4,226		61,953
Par Pharmaceutical Companies Inc. (a)	7,924		120,049
Parexel International Corp. (a)	13,337		191,786
PDL BioPharma Inc.	27,705		218,869
Pharmasset Inc. (a)	4,630		52,088
PharMerica Corp. (a)	6,936		136,154
Phase Forward Inc. (a)	9,709		146,703
Poniard Pharmaceuticals Inc. (a)	5,399		32,232
Pozen Inc. (a)	5,665		43,507
Progenics Pharmaceuticals Inc. (a)	5,845		30,102
Protalix BioTherapeutics Inc. (a)	8,085		36,544
PSS World Medical Inc. (a)	13,464		249,219
Psychiatric Solutions Inc. (a)	13,028		296,257
Quality Systems Inc.	5,372		305,989
Questcor Pharmaceuticals Inc. (a)	13,888		69,440
Quidel Corp. (a)	5,961		86,792
Radnet Inc. (a)	9,075		20,419
Regeneron Pharmaceuticals Inc. (a)	14,243		255,235
RehabCare Group Inc. (a)	4,189		100,243
Repligen Corp. (a)	6,799		37,395
Repros Therapeutics Inc. (a)	2,239		16,098
Res-Care Inc. (a)	5,790		82,797
Rigel Pharmaceuticals Inc. (a)	8,314		100,766
Rochester Medical Corp. (a)	2,342		31,383
Rockwell Medical Technologies Inc. (a)	3,320		25,066
RTI Biologics Inc. (a)	11,797		50,609
Salix Pharmaceuticals Ltd. (a)	10,956		108,136
Sangamo BioSciences Inc. (a)	10,261		50,689
Santarus Inc. (a)	12,113		34,159
Savient Pharmaceuticals Inc. (a)	13,825		191,614
SciClone Pharmaceuticals Inc. (a)	8,411		21,532
Seattle Genetics Inc. (a)	16,604		161,391
Sequenom Inc. (a)	13,726		53,669
SIGA Technologies Inc. (a)	6,042		50,994
Sirona Dental Systems Inc. (a)	3,705		74,063
Skilled Healthcare Group Inc. Class A (a)	3,845		28,838
Somanetics Corp. (a)	2,819		46,542
SonoSite Inc. (a)	3,934		78,916
Spectranetics Corp. (a)	7,119		35,097
Spectrum Pharmaceuticals Inc. (a)	7,631		58,377
StemCells Inc. (a)	24,083		40,941
Stereotaxis Inc. (a)	6,177		23,967
STERIS Corp.	13,350		348,168
Sucampo Pharmaceuticals Inc. Class A (a)	1,995		12,309
Sun Healthcare Group Inc. (a)	10,111		85,337


	Shares	Value
Common Stocks (Cont.)
Health Care (Cont.)
Sunrise Senior Living Inc. (a)	9,860	$	16,269
SuperGen Inc. (a)	13,841		27,820
SurModics Inc. (a)	3,384		76,580
Symmetry Medical Inc. (a)	7,788		72,584
Synovis Life Technologies Inc. (a)	2,731		56,723
Synta Pharmaceuticals Corp. (a)	3,657		8,448
Theravance Inc. (a)	11,993		175,578
Thoratec Corp. (a)	12,829		343,561
TomoTherapy Inc. (a)	8,980		24,695
TranS1 Inc. (a)	2,672		16,647
Transcend Services Inc. (a)	1,473		23,347
Triple-S Management Corp. Class B (a)	4,774		74,427
U.S. Physical Therapy Inc. (a)	2,600		38,350
Utah Medical Products Inc.	758		20,246
Vanda Pharmaceuticals Inc. (a)	6,196		72,927
Vascular Solutions Inc. (a)	3,785		29,599
Vical Inc. (a)	7,834		21,230
ViroPharma Inc. (a)	17,833		105,750
Virtual Radiologic Corp. (a)	1,526		13,780
Vital Images Inc. (a)	3,328		37,773
VIVUS Inc. (a)	16,875		102,600
Volcano Corp. (a)	11,054		154,535
WellCare Health Plans Inc. (a)	9,527		176,154
West Pharmaceutical Services Inc.	7,476		260,539
Wright Medical Group Inc. (a)	8,631		140,340
Xenoport Inc. (a)	6,135		142,148
Young Innovations Inc.	1,277		27,826
Zoll Medical Corp. (a)	4,808		92,987
ZymoGenetics Inc. (a)	8,495		39,077

			24,964,623

Materials & Processes (8.07%)
A. Schulman Inc.	5,405		81,670
Aaon Inc.	2,941		58,585
Aceto Corp.	5,355		35,718
Acuity Brands Inc.	9,325		261,566
AEP Industries Inc. (a)	1,269		33,489
AgFeed Industries Inc. (a)	6,441		38,195
Alico Inc.	831		24,947
Allied Nevada Gold Corp. (a)	9,874		79,584
AM Castle & Co.	3,623		43,766
AMCOL International Corp.	5,451		117,633
American Vanguard Corp.	4,784		54,059
Ameron International Corp.	2,110		141,454
Ampco-Pittsburgh Corp.	1,816		42,585
AMREP Corp. (a)	461		5,085
Apogee Enterprises Inc.	6,351		78,117
Arch Chemicals Inc.	5,651		138,958
Balchem Corp.	4,184		102,592
Barnes Group Inc.	10,585		125,856
Beacon Roofing Supply Inc. (a)	10,455		151,179
Bluegreen Corp. (a)	2,821		7,109


	Shares	Value
Common Stocks (Cont.)
Materials & Processes (Cont.)
BlueLinx Holdings Inc. (a)	3,572	$	10,716
Boise Inc. (a)	8,573		14,746
Brookfield Homes Corp. (a)	2,200		8,800
Brush Engineered Materials Inc. (a)	4,477		74,990
Buckeye Technologies Inc. (a)	8,600		38,614
Builders Firstsource Inc. (a)	3,994		16,615
Bway Holding Co. (a)	1,629		28,556
Cabot Microelectronics Corp. (a)	5,310		150,220
Cadiz Inc. (a)	2,725		26,242
Cal Dive International Inc. (a)	10,340		89,234
Calavo Growers Inc.	2,269		44,994
Calgon Carbon Corp. (a)	12,579		174,722
Century Aluminum Co. (a)	10,573		65,870
Ceradyne Inc. (a)	5,840		103,134
Chase Corp.	1,437		17,100
China BAK Battery Inc. (a)	9,972		29,417
China Housing & Land Development Inc. (a)	6,015		34,646
China Precision Steel Inc. (a)	8,003		19,847
CIRCOR International Inc.	3,878		91,560
Clarcor Inc.	11,622		339,246
Clean Harbors Inc. (a)	4,596		248,138
Clearwater Paper Corp. (a)	2,473		62,542
Coeur d’Alena Mines Corp. (a)	15,510		190,773
Cogdell Spencer Inc.	6,518		27,962
Comfort Systems USA Inc.	8,807		90,272
Deltic Timber Corp.	2,444		86,689
Domtar Corp. (a)	9,344		154,924
Drew Industries Inc. (a)	4,323		52,611
Dycom Industries Inc. (a)	8,883		98,335
Dynamic Materials Corp.	2,766		53,328
EMCOR Group Inc. (a)	14,976		301,317
Encore Wire Corp.	4,008		85,571
Energy Conversion Devices Inc. (a)	10,433		147,627
EnerSys (a)	9,355		170,167
ENGlobal Corp. (a)	4,301		21,161
Exide Technologies (a)	11,615		43,324
Ferro Corp.	9,601		26,403
Forestar Group Inc. (a)	8,176		97,131
Furmanite Corp. (a)	7,989		35,631
General Moly Inc. (a)	13,772		30,574
General Steel Holdings Inc. (a)	3,689		14,645
Gibraltar Industries Inc.	5,901		40,540
Glatfelter	10,546		93,859
GP Strategies Corp. (a)	3,701		21,799
GrafTech International Ltd. (a)	27,416		310,075
Granite Construction Inc.	7,778		258,852
Graphic Packaging Holding Co. (a)	25,845		47,296
Great Lakes Dredge & Dock Co.	8,729		41,725
Griffin Land & Nurseries Inc.	730		22,834
Griffon Corp. (a)	10,054		83,649
Hawk Corp. Class A (a)	1,295		17,936
Haynes International Inc. (a)	2,616		61,999


	Shares	Value
Common Stocks (Cont.)
Materials & Processes (Cont.)
HB Fuller Co.	11,016	$	206,880
Hecla Mining Co. (a)	52,207		139,915
Hexcel Corp. (a)	22,035		209,994
Hill International Inc. (a)	5,140		22,102
Hilltop Holdings Inc. (a)	9,172		108,872
Horsehead Holding Corp. (a)	7,664		57,097
HQ Sustainable Maritime Industries Inc. (a)	2,605		23,836
ICO Inc. (a)	6,068		16,505
Innerworkings Inc. (a)	5,691		27,032
Innophos Holdings Inc.	4,009		67,712
Innospec Inc.	5,134		55,191
Insituform Technologies Inc. (a)	9,007		152,849
Insteel Industries Inc.	3,948		32,532
Integrated Electrical Services Inc. (a)	1,701		13,285
Interline Brands Inc. (a)	7,503		102,641
Kaiser Aluminum Corp.	3,463		124,356
Kapstone Paper and Packaging Corp. (a)	3,921		18,389
Kaydon Corp.	7,584		246,935
Koppers Holdings Inc.	4,576		120,669
L.B. Foster Co. (a)	2,346		70,544
Ladish Co. Inc. (a)	3,686		47,807
Landec Corp. (a)	6,611		44,889
Layne Christensen Co. (a)	4,431		90,614
Louisiana-Pacific Corp. (a)	25,436		86,991
LSB Industries Inc. (a)	3,811		61,624
LSI Industries Inc.	4,226		23,032
Lumber Liquidators Inc. (a)	3,363		53,001
Michael Baker Corp. (a)	1,756		74,384
Minerals Technologies Inc.	4,266		153,661
Mueller Industries Inc.	8,587		178,610
Mueller Water Products Inc.	26,663		99,720
Multi-Color Corp.	2,151		26,371
Myers Industries Inc.	7,555		62,858
NCI Building Systems Inc. (a)	4,334		11,442
Neenah Paper Inc.	3,284		28,932
NewMarket Corp.	2,253		151,695
NL Industries Inc.	1,462		10,790
North American Galvanizing & Coating Inc. (a)	2,997		18,162
Northwest Pipe Co. (a)	2,008		69,798
Olin Corp.	18,061		214,745
Olympic Steel Inc.	1,978		48,402
OM Group Inc. (a)	6,906		200,412
Omega Flex Inc.	677		10,263
Omnova Solutions Inc. (a)	10,258		33,441
Orion Marine Group Inc. (a)	4,880		92,720
Paramount Gold and Silver Corp. (a)	14,914		22,669
Patriot Coal Corp. (a)	14,836		94,654
PolyOne Corp. (a)	20,715		56,138
Polypore International Inc. (a)	5,271		58,614
Quaker Chemical Corp.	2,253		29,942
Quanex Building Products Corp.	8,586		96,335


	Shares	Value
Common Stocks (Cont.)
Materials & Processes (Cont.)
Raven Industries Inc.	3,637	$	93,107
RBC Bearings Inc. (a)	4,967		101,575
Resource Capital Corp.	4,351		13,923
Rock-Tenn Co. Class A	8,732		333,213
Rockwood Holdings Inc. (a)	11,423		167,233
RTI International Metals Inc. (a)	5,311		93,845
Schweitzer-Mauduit International Inc.	3,506		95,398
ShengdaTech Inc. (a)	6,863		25,874
Silgan Holdings Inc.	6,193		303,643
Simpson Manufacturing Co. Inc.	8,750		189,175
Solutia Inc. (a)	21,632		124,600
Spartech Corp.	7,079		65,056
Stepan Co.	1,707		75,381
Sterling Construction Company Inc. (a)	3,056		46,635
Stillwater Mining Co. (a)	8,958		51,150
Sutor Technology Group Ltd. (a)	1,659		5,425
Symyx Technologies Inc. (a)	7,428		43,454
Tejon Ranch Co. (a)	2,443		64,715
Texas Industries Inc.	5,318		166,772
The Andersons Inc.	4,143		124,041
Tredegar Corp.	6,865		91,442
Trex Co. Inc. (a)	3,325		44,455
TriMas Corp. (a)	2,706		9,119
Tutor Perini Corp. (a)	5,962		103,500
U.S. Concrete Inc. (a)	8,711		17,248
Ultralife Corp. (a)	2,749		19,710
Unifi Inc. (a)	9,869		14,014
United States Lime & Minerals Inc. (a)	389		16,501
Universal Forest Products Inc.	4,300		142,287
Universal Stainless & Alloy Products Inc. (a)	1,469		23,901
Uranerz Energy Corp. (a)	10,637		19,998
Uranium Energy Corp. (a)	10,856		31,482
US Gold Corp. (a)	18,600		49,104
USEC Inc. (a)	26,259		139,698
Valence Technology Inc. (a)	11,109		19,885
VSE Corp.	876		22,916
Watsco Inc.	5,429		265,641
Wausau Paper Corp.	9,677		65,029
Westlake Chemical Corp.	4,456		90,858
Worthington Industries Inc.	13,939		178,280
WR Grace & Co. (a)	16,346		202,200
Zapata Corp. (a)	2,137		14,553
Zoltek Companies Inc. (a)	6,044		58,748

			13,935,941

Oil & Gas (3.60%)
Allis-Chalmers Energy Inc. (a)	13,806		31,892
Alon USA Energy Inc.	1,885		19,510
APCO Argentina Inc.	2,131		40,979
Approach Resources Inc. (a)	3,491		24,088
Arena Resources Inc. (a)	8,634		274,993


	Shares	Value
Common Stocks (Cont.)
Oil & Gas (Cont.)
ATP Oil & Gas Corp. (a)	6,104	$	42,484
Basic Energy Services Inc. (a)	5,235		35,755
Berry Petroleum Co.	9,950		184,970
Bill Barrett Corp. (a)	8,670		238,078
Bolt Technology Corp. (a)	1,889		21,232
Boots & Coots Inc. (a)	18,333		25,483
BPZ Resources Inc. (a)	17,930		87,678
Brigham Exploration Co. (a)	20,393		71,172
Bronco Drilling Co. Inc. (a)	5,767		24,683
CARBO Ceramics Inc.	4,272		146,102
Carrizo Oil & Gas Inc. (a)	6,281		107,719
Cheniere Energy Inc. (a)	14,034		41,260
Clayton Williams Energy Inc. (a)	1,187		22,399
Clean Energy Fuels Corp. (a)	6,978		60,081
Complete Production Services Inc. (a)	13,557		86,223
Contango Oil & Gas Co. (a)	2,685		114,086
CREDO Petroleum Corp. (a)	1,659		17,718
Cubic Energy Inc. (a)	6,994		7,554
CVR Energy Inc. (a)	5,049		37,009
Dawson Geophysical Co. (a)	1,697		50,655
Delek US Holdings Inc.	2,909		24,668
Delta Petroleum Corp. (a)	42,423		81,876
Dril-Quip Inc. (a)	6,590		251,079
Endeavour International Corp. (a)	24,933		33,909
Evergreen Solar Inc. (a)	43,992		95,463
FuelCell Energy Inc. (a)	15,057		62,938
FX Energy Inc. (a)	9,399		35,622
Geokinetics Inc. (a)	1,051		14,346
GeoResources Inc. (a)	1,706		17,401
Global Industries Ltd. (a)	23,148		131,018
GMX Resources Inc. (a)	5,754		61,223
Goodrich Petroleum Corp. (a)	5,472		134,556
Gran Tierra Energy Inc. (a)	47,142		162,640
Green Plains Renewable Energy Inc. (a)	2,217		14,521
Gulf Island Fabrication Inc.	2,673		42,314
Gulfport Energy Corp. (a)	5,755		39,422
Harvest Natural Resources Inc. (a)	7,698		33,948
Hercules Offshore Inc. (a)	20,468		81,258
Hornbeck Offshore Services Inc. (a)	5,093		108,939
ION Geophysical Corp. (a)	19,072		49,015
Isramco Inc. (a)	253		26,952
James River Coal Co. (a)	6,268		94,835
Key Energy Services Inc. (a)	28,665		165,110
Lufkin Industries Inc.	3,337		140,321
Matrix Service Co. (a)	5,709		65,539
McMoRan Exploration Co. (a)	14,898		88,792
NATCO Group Inc. (a)	4,540		149,457
Natural Gas Services Group (a)	2,653		35,285
Newpark Resources Inc. (a)	19,731		56,233
Northern Oil and Gas Inc. (a)	6,575		41,883
Oilsands Quest Inc. (a)	47,489		45,589
Panhandle Oil & Gas Inc.	1,605		31,506
Parallel Petroleum Corp. (a)	9,089		17,633


	Shares	Value
Common Stocks (Cont.)
Oil & Gas (Cont.)
Parker Drilling Co. (a)	27,108	$	117,649
Penn Virginia Corp.	10,337		169,217
PetroCorp Inc. (a) (b)	745		0
Petroleum Development Corp. (a)	3,263		51,196
Petroquest Energy Inc. (a)	9,529		35,162
Pioneer Drilling Co. (a)	9,918		47,507
PowerSecure International Inc. (a)	3,699		15,758
PrimeEnergy Corp. (a)	201		7,198
Rex Energy Corp. (a)	5,930		33,801
Rosetta Resources Inc. (a)	11,887		104,011
RPC Inc.	6,496		54,242
Stone Energy Corp. (a)	7,691		57,067
SulphCo Inc. (a)	11,658		10,725
Superior Well Services Inc. (a)	3,625		21,569
Swift Energy Co. (a)	7,029		117,033
Syntroleum Corp. (a)	14,757		32,613
T-3 Energy Services Inc. (a)	2,741		32,645
Teekay Tankers Ltd. Class A	2,430		22,575
Tetra Tech Inc. (a)	13,680		391,932
TETRA Technologies Inc. (a)	17,461		138,990
TGC Industries Inc. (a)	3,132		15,253
Toreador Resources Corp. (a)	4,411		29,554
U.S. Geothermal Inc. (a)	13,576		19,278
Union Drilling Inc. (a)	2,310		15,292
VAALCO Energy Inc. (a)	13,284		56,191
Vantage Drilling Co. (a)	7,118		12,457
Venoco Inc. (a)	4,444		34,085
W&T Offshore Inc.	7,897		76,917
Warren Resources Inc. (a)	12,801		31,362
Western Refining Inc. (a)	7,942		56,071
Westmoreland Coal Co. (a)	2,081		16,856
Willbros Group Inc. (a)	8,934		111,764
Zion Oil & Gas Inc. (a)	2,794		29,672

			6,214,736

Technology (16.25%)
3Com Corp (a)	89,208		420,170
3D Systems Corp. (a)	3,684		26,562
3PAR Inc. (a)	5,969		74,016
AboveNet Inc. (a)	1,433		116,044
Acacia Research - Acacia Technologies (a)	7,442		58,569
ACI Worldwide Inc. (a)	8,086		112,881
Acme Packet Inc. (a)	9,028		91,363
Actel Corp. (a)	6,025		64,648
ActivIdentity Corp. (a)	10,738		27,167
Actuate Corp. (a)	10,049		48,034
Acxiom Corp.	15,745		139,028
Adaptec Inc. (a)	26,539		70,328
Adtran Inc.	12,639		271,359
Advanced Analogic Technologies Inc. (a)	10,005		45,923
Advanced Battery Technologies Inc. (a)	11,610		46,672


	Shares	Value
Common Stocks (Cont.)
Technology (Cont.)
Agilysys Inc.	3,531	$	16,525
American Reprographics Co. (a)	7,995		66,518
American Science & Engineering Inc.	2,051		141,765
American Software Inc. Class A	4,929		28,391
AMICAS Inc. (a)	8,269		22,988
Amkor Technology Inc. (a)	25,039		118,434
ANADIGICS Inc. (a)	13,989		58,614
Anaren Inc. (a)	3,472		61,385
Anixter International Inc. (a)	6,765		254,296
Applied Micro Circuits Corp. (a)	14,723		119,698
Applied Signal Technology Inc.	2,966		75,663
ArcSight Inc. (a)	4,278		76,020
Ariba Inc. (a)	19,742		194,261
Art Technology Group Inc. (a)	28,418		107,988
Aruba Networks Inc. (a)	13,665		119,432
AsiaInfo Holdings Inc. (a)	6,753		116,219
Atheros Communications (a)	13,887		267,186
Avid Technology Inc. (a)	6,630		88,908
Avocent Corp. (a)	9,956		138,986
Bel Fuse Inc.	2,380		38,175
Benchmark Electronics Inc. (a)	15,105		217,512
BigBand Networks Inc. (a)	9,087		46,980
Black Box Corp.	3,970		132,876
Blackbaud Inc.	9,991		155,360
Blackboard Inc. (a)	7,146		206,234
Blue Coat Systems Inc. (a)	8,871		146,726
Bottomline Technologies Inc. (a)	6,021		54,249
CACI International Inc. (a)	6,831		291,752
Callidus Software Inc. (a)	6,597		18,801
Cavium Networks Inc. (a)	8,408		141,338
Cbeyond Inc. (a)	5,256		75,424
CEVA Inc. (a)	4,410		38,279
Checkpoint Systems Inc. (a)	8,712		136,691
China Fire & Security Group Inc. (a)	3,062		37,265
China Information Security Technology Inc. (a)	5,014		14,340
China Security & Surveillance Technology Inc. (a)	7,602		57,319
China TransInfo Technology Corp. (a)	2,184		10,221
Chordiant Software Inc. (a)	6,542		23,747
Ciber Inc. (a)	16,009		49,628
Cirrus Logic Inc. (a)	14,264		64,188
Cogent Communications Group Inc. (a)	9,933		80,954
Cogent Inc. (a)	9,703		104,113
Cogo Group Inc. (a)	5,648		33,719
Coherent Inc. (a)	5,017		103,752
Commvault Systems Inc. (a)	9,390		155,686
Compellent Technologies Inc. (a)	3,915		59,704
Computer Task Group Inc. (a)	3,518		21,460
comScore Inc. (a)	5,012		66,760
COMSYS IT Partners Inc. (a)	3,725		21,791


	Shares	Value
Common Stocks (Cont.)
Technology (Cont.)
Comtech Telecommunications Corp. (a)	6,384	$	203,522
Comverge Inc. (a)	4,409		53,349
Concur Technologies Inc. (a)	9,030		280,652
Constant Contact Inc. (a)	5,562		110,350
CPI International Inc. (a)	1,697		14,747
Cray Inc. (a)	7,541		59,423
CSG Systems International Inc. (a)	7,866		104,146
CSR Plc (a)	9,964		57,334
Cubic Corp.	3,558		127,341
D&E Communications Inc.	3,369		34,465
Daktronics Inc.	7,201		55,448
Data Domain Inc. (a)	10,965		365,683
DealerTrack Holdings Inc. (a)	8,690		147,730
Deltek Inc. (a)	2,751		11,939
DemandTec Inc. (a)	4,299		37,831
Digi International Inc. (a)	5,725		55,819
Digital River Inc. (a)	8,636		313,660
DigitalGlobe Inc. (a)	3,424		65,741
Diodes Inc. (a)	7,399		115,720
DivX Inc. (a)	7,814		42,899
Double-Take Software Inc. (a)	3,787		32,758
DSP Group Inc. (a)	5,341		36,105
Dynamics Research Corp. (a)	2,032		20,340
Ebix Inc. (a)	1,647		51,584
Echelon Corp. (a)	7,790		66,059
Electronics for Imaging Inc. (a)	11,010		117,367
eLoyalty Corp. (a)	1,550		12,214
EMS Technologies Inc. (a)	3,468		72,481
Emulex Corp. (a)	19,193		187,708
Ener1 Inc. (a)	11,678		63,762
EnergySolutions Inc.	17,510		161,092
Entropic Communications Inc. (a)	12,358		27,806
Entrust Inc. (a)	11,486		20,790
Epicor Software Corp. (a)	10,929		57,924
EPIQ Systems Inc. (a)	7,491		114,987
ePlus Inc. (a)	878		12,792
Exar Corp. (a)	8,208		59,016
Extreme Networks Inc. (a)	19,384		38,768
FalconStor Software Inc. (a)	8,374		39,777
Formfactor Inc. (a)	11,157		192,347
Gartner Inc. (a)	13,618		207,811
GeoEye Inc. (a)	4,165		98,127
Globecomm Systems Inc. (a)	4,418		31,765
GSE Systems Inc. (a)	3,753		25,333
GSI Technology Inc. (a)	4,362		16,837
Hackett Group Inc. (a)	9,027		21,033
Harmonic Inc. (a)	22,382		131,830
Harris Stratex Networks Inc. Class A (a)	13,138		85,134
Herley Industries Inc. (a)	2,959		32,460
Hittite Microwave Corp. (a)	4,820		167,495
Hughes Communications Inc. (a)	2,074		47,349
i2 Technologies Inc. (a)	3,492		43,825
ICx Technologies Inc. (a)	2,993		17,958


	Shares	Value
Common Stocks (Cont.)
Technology (Cont.)
iGate Corp.	5,272	$	34,901
II-VI Inc. (a)	5,585		123,819
Imation Corp.	6,564		49,952
Imergent Inc.	1,861		13,027
Immersion Corp. (a)	6,848		33,829
Informatica Corp. (a)	19,865		341,479
Integral Systems Inc. (a)	3,724		30,984
Intellon Corp. (a)	4,996		21,233
Interactive Intelligence Inc. (a)	3,042		37,295
Intermec Inc. (a)	14,318		184,702
Internet Brands Inc. (a)	6,390		44,730
Internet Capital Group Inc. (a)	8,492		57,151
IPG Photonics Corp. (a)	5,375		58,964
iRobot Corp. (a)	4,303		55,853
Isilon Systems Inc. (a)	5,384		22,828
Ixia (a)	7,264		48,959
IXYS Corp.	5,453		55,184
j2 Global Communications Inc. (a)	10,118		228,262
Jack Henry & Associates Inc.	19,161		397,591
JDA Software Group Inc. (a)	5,997		89,715
Keynote Systems Inc. (a)	3,178		24,280
Kopin Corp. (a)	15,119		55,487
KVH Industries Inc. (a)	3,283		22,423
L-1 Identity Solutions Inc. (a)	17,146		132,710
LaBarge Inc. (a)	2,670		24,751
Lantronix Inc. Warrants (a) (b)	73		0
Lattice Semiconductor Corp. (a)	25,275		47,517
Lawson Software Inc. (a)	31,883		177,907
Limelight Networks Inc. (a)	7,415		32,626
Lionbridge Technologies Inc. (a)	13,485		24,812
LivePerson Inc. (a)	9,639		38,556
Loral Space & Communications Inc. (a)	2,477		63,783
Manhattan Associates Inc. (a)	5,204		94,817
ManTech International Corp. (a)	4,956		213,306
Maxwell Technologies Inc. (a)	5,219		72,179
MEMSIC Inc. (a)	3,679		15,599
Mentor Graphics Corp. (a)	21,888		119,727
Mercadolibre Inc. (a)	5,799		155,877
Mercury Computer Systems Inc. (a)	4,775		44,169
Methode Electronics Inc.	8,339		58,540
Micrel Inc.	10,485		76,750
Microsemi Corp. (a)	18,436		254,417
MicroStrategy Inc. (a)	2,013		101,093
Microtune Inc. (a)	12,142		28,412
Microvision Inc. (a)	15,754		48,365
MIPS Technologies Inc. (a)	9,823		29,469
ModusLink Global Solutions Inc. (a)	10,924		74,939
Monolithic Power Systems Inc. (a)	7,632		171,033
Monotype Imaging Holdings Inc. (a)	5,069		34,520
MSC.Software Corp. (a)	9,866		65,708
MTS Systems Corp.	3,851		79,523


	Shares	Value
Common Stocks (Cont.)
Technology (Cont.)
Multi-Fineline Electronix Inc. (a)	2,048	$	43,827
NCI Inc. (a)	1,424		43,318
Ness Technologies Inc. (a)	8,607		33,653
Netezza Corp. (a)	10,954		91,137
Netgear Inc. (a)	7,760		111,822
Netlogic Microsystems Inc. (a)	4,055		147,845
NetScout Systems Inc. (a)	5,697		53,438
NetSuite Inc. (a)	3,890		45,941
Network Equipment Technologies Inc. (a)	6,832		29,104
Newport Corp. (a)	7,901		45,747
Novatel Wireless Inc. (a)	7,111		64,141
NVE Corp. (a)	1,016		49,378
Omniture Inc. (a)	15,266		191,741
Omnivision Technologies Inc. (a)	11,645		120,992
OpenTable Inc. (a)	707		21,330
OpenTV Corp. Class A (a)	18,441		24,342
Openwave Systems Inc. (a)	19,437		43,539
Oplink Communications Inc. (a)	4,561		51,995
OPNET Technologies Inc.	2,883		26,408
OSI Systems Inc. (a)	3,479		72,537
PAETEC Holding Corp. (a)	27,142		73,283
Palm Inc. (a)	31,372		519,834
PAR Technology Corp. (a)	1,933		12,352
Parametric Technology Corp. (a)	26,456		309,271
Park Electrochemical Corp.	4,710		101,406
PC-Tel Inc. (a)	4,573		24,466
Pegasystems Inc.	3,346		88,267
Pericom Semiconductor Corp. (a)	5,987		50,411
Perot Systems Corp. (a)	20,040		287,173
Pervasive Software Inc. (a)	3,612		21,997
Phoenix Technologies Ltd. (a)	6,035		16,355
Plexus Corp. (a)	8,980		183,731
PLX Technology Inc. (a)	8,879		33,474
Polycom Inc. (a)	19,109		387,339
Power Integrations Inc.	5,511		131,107
Progress Software Corp. (a)	8,982		190,149
PROS Holdings Inc. (a)	4,453		36,158
QAD Inc.	2,688		8,736
Quantum Corp. (a)	45,082		37,418
Quest Software Inc. (a)	14,980		208,821
Rackspace Hosting Inc. (a)	15,041		208,468
Radiant Systems Inc. (a)	6,065		50,340
Radisys Corp. (a)	5,036		45,374
RealNetworks Inc. (a)	19,192		57,384
RF Micro Devices Inc. (a)	61,601		231,620
RightNow Technologies Inc. (a)	5,043		59,507
Rimage Corp. (a)	2,095		34,798
Riverbed Technology Inc. (a)	12,427		288,182
Rogers Corp. (a)	3,609		73,010
Rubicon Technology Inc. (a)	2,906		41,498
S1 Corp. (a)	12,505		86,285
Saba Software Inc. (a)	5,776		22,238


	Shares	Value
Common Stocks (Cont.)
Technology (Cont.)
Safeguard Scientifics Inc. (a)	27,888	$	36,812
Sapient Corp. (a)	19,278		121,259
SAVVIS Inc. (a)	8,250		94,545
ScanSource Inc. (a)	5,980		146,630
SeaChange International Inc. (a)	7,413		59,526
Semtech Corp. (a)	13,937		221,738
Sigma Designs Inc. (a)	6,077		97,475
Silicon Graphics International Corp. (a)	6,504		29,528
Silicon Image Inc. (a)	16,114		37,062
Silicon Storage Technology Inc. (a)	19,095		35,708
Skyworks Solutions Inc. (a)	38,269		374,271
Smart Modular Technologies (WWH) Inc. (a)	8,487		19,266
Smith Micro Software Inc. (a)	6,799		66,766
Solarwinds Inc. (a)	2,831		46,683
Solera Holdings Inc. (a)	15,815		401,701
SonicWALL Inc. (a)	12,511		68,560
Sonus Networks Inc. (a)	50,667		81,574
Sourcefire Inc. (a)	5,167		64,019
Spectrum Control Inc. (a)	2,946		25,925
SPSS Inc. (a)	4,100		136,817
SRA International Inc. (a)	9,524		167,241
SRS Labs Inc. (a)	2,736		18,194
Standard Microsystems Corp. (a)	4,997		102,189
Stanley Inc. (a)	2,667		87,691
Starent Networks Corp. (a)	8,872		216,566
STEC Inc. (a)	5,507		127,707
Stratasys Inc. (a)	4,529		49,774
SuccessFactors Inc. (a)	8,608		79,021
SumTotal Systems Inc. (a)	7,298		35,103
Super Micro Computer Inc. (a)	4,843		37,097
Supertex Inc. (a)	2,456		61,670
Support.com Inc. (a)	10,133		22,090
Switch & Data Facilities Co. (a)	4,503		52,820
Sycamore Networks Inc. (a)	45,195		141,460
Sykes Enterprises Inc. (a)	8,036		145,371
Synaptics Inc. (a)	7,789		301,045
Synchronoss Technologies Inc. (a)	4,388		53,841
Syniverse Holdings Inc. (a)	15,861		254,252
SYNNEX Corp. (a)	4,469		111,680
Syntel Inc.	2,831		89,007
Taleo Corp. (a)	6,960		127,159
TechTarget (a)	3,046		12,184
Techwell Inc. (a)	3,392		28,832
Tekelec (a)	15,122		254,503
TeleCommunication Systems Inc. Class A (a)	8,899		63,272
Terremark Worldwide Inc. (a)	11,595		67,019
Tessera Technologies Inc. (a)	11,058		279,657
TIBCO Software Inc. (a)	40,846		292,866
Tier Technologies Inc. Class B (a)	4,102		31,503


	Shares	Value
Common Stocks (Cont.)
Technology (Cont.)
Trident Microsystems Inc. (a)	13,375	$	23,273
TriQuint Semiconductor Inc. (a)	34,161		181,395
TTM Technologies Inc. (a)	10,005		79,640
Tyler Technologies Inc. (a)	7,227		112,886
Ultimate Software Group Inc. (a)	5,545		134,411
Unica Corp. (a)	3,054		16,736
Unisys Corp. (a)	85,914		129,730
Universal Display Corp. (a)	6,346		62,064
UTStarcom Inc. (a)	24,256		39,537
Varian Inc. (a)	6,544		258,030
VASCO Data Security International Inc. (a)	5,668		41,433
VeriFone Holdings Inc. (a)	16,739		125,710
ViaSat Inc. (a)	6,022		154,404
Vignette Corp. (a)	5,514		72,509
Virage Logic Corp. (a)	3,826		17,217
Virtusa Corp. (a)	3,230		25,937
Vocus Inc. (a)	3,784		74,772
Volterra Semiconductor Corp. (a)	5,239		68,840
Web.com Group Inc. (a)	6,057		34,101
Websense Inc. (a)	10,066		179,577
White Electronic Designs Corp. (a)	5,379		24,905
Wind River Systems Inc. (a)	15,815		181,240
Zix Corp. (a)	14,873		22,310
Zoran Corp. (a)	11,821		128,849

			28,074,143

Telecommunications (1.24%)
ADC Telecommunications Inc. (a)	22,402		178,320
Airvana Inc. (a)	5,273		33,589
Alaska Communications Systems Group Inc.	10,149		74,291
Atlantic Tele-Network Inc.	1,948		76,537
Centennial Communications Corp. (a)	19,704		164,726
Cincinnati Bell Inc. (a)	49,101		139,447
Communications Systems Inc.	1,448		14,190
Consolidated Communications Holdings Inc.	5,131		60,084
FairPoint Communications Inc.	19,550		11,730
FiberNet Telecom Group Inc. (a)	1,386		17,214
General Communication Inc. Class A (a)	9,939		68,877
Global Crossing Ltd. (a)	6,857		62,947
HickoryTech Corp.	3,061		23,509
iBasis Inc. (a)	6,638		8,696
Infinera Corp. (a)	19,427		177,369
Iowa Telecommunications Services Inc.	7,767		97,165
iPCS Inc. (a)	3,864		57,805
Neutral Tandem Inc. (a)	7,426		219,216
NTELOS Holdings Corp.	6,726		123,893
Premiere Global Services Inc. (a)	13,954		151,261
RCN Corp. (a)	8,263		49,330
Shenandoah Telecommunications Co.	5,284		107,212


	Shares	Value
Common Stocks (Cont.)
Telecommunications (Cont.)
ShoreTel Inc. (a)	10,159	$	81,272
SureWest Communications (a)	3,337		34,938
USA Mobility Inc.	5,257		67,079
Virgin Mobile USA Inc. (a)	8,940		35,939

			2,136,636

Utilities & Energy (3.98%)
Allete Inc.	5,902		169,682
American States Water Co.	4,194		145,280
Argan Inc. (a)	1,741		24,600
Artesian Resources Corp. Class A	1,457		23,210
Atlas America Inc.	7,764		138,743
Avista Corp.	12,451		221,752
Black Hills Corp.	8,819		202,749
Broadwind Energy Inc. (a)	7,302		82,659
California Water Service Group	4,407		162,354
Central Vermont Public Service Corp.	2,828		51,187
CH Energy Group Inc.	3,516		164,197
Chesapeake Utilities Corp.	1,492		48,535
Cleco Corp.	13,797		309,329
Connecticut Water Service Inc.	1,843		39,975
Consolidated Water Co. Ltd.	3,263		51,718
Crosstex Energy Inc.	8,836		36,758
El Paso Electric Co. (a)	10,380		144,905
Empire District Electric Co.	8,027		132,606
EnerNOC Inc. (a)	2,763		59,874
Evergreen Energy Inc. (a)	30,506		29,896
Florida Public Utilities Co.	1,441		20,217
GreenHunter Energy Inc. Warrants (a) (b)	94		0
GT Solar International Inc. (a)	6,652		35,389
Headwaters Inc. (a)	9,220		30,979
Idacorp Inc.	10,728		280,430
International Coal Group Inc. (a)	21,010		60,089
Laclede Group Inc.	5,018		166,246
MGE Energy Inc.	5,212		174,863
Middlesex Water Co.	2,909		42,035
MYR Group Inc. (a)	4,004		80,961
New Jersey Resources Corp.	9,599		355,547
Nicor Inc.	10,302		356,655
Northwest Natural Gas Co.	6,042		267,781
NorthWestern Corp.	8,109		184,561
Otter Tail Corp.	8,000		174,720
Pennichuck Corp.	1,001		22,823
Piedmont Natural Gas Company Inc.	16,777		404,493
Pike Electric Corp. (a)	3,597		43,344
PNM Resources Inc.	19,909		213,225
Portland General Electric Co.	17,145		333,985
SJW Corp.	2,885		65,489
South Jersey Industries Inc.	6,759		235,821
Southwest Gas Corp.	10,375		230,429
Southwest Water Co.	5,522		30,481


	Shares or
	principal
	amount		Value
Common Stocks (Cont.)
Utilities & Energy (Cont.)
UIL Holdings Corp.		6,697	$	150,348
Unisource Energy Corp.		8,105		215,107
Unitil Corp.		2,450		50,519
WGL Holdings Inc.		11,431		366,021
York Water Co.		2,664		40,839

				6,873,406

Total Common Stocks
(cost $229,944,562)				170,854,142

Short-term Investments (1.08%)
U.S. Treasury Bill, 0.040%, 07/23/2009 (c)	$	1,873,000		1,872,863

Total Short-term Investments
(cost $1,872,954)				1,872,863

TOTAL INVESTMENTS (99.99%)
(cost $231,817,516)				172,727,005
CASH AND OTHER ASSETS, NET OF LIABILITIES (0.01%)				16,597

NET ASSETS (100.00%)			$	172,743,602

(a)	Non-income producing security.

(b)	In accordance with the Trust’s Valuation Procedures, SFIMC determined the fair value for the security considering the facts and circumstances related to the particular security.

(c)	At June 30, 2009, this security has been pledged to cover, in whole or in part, initial margin requirements for open futures contracts.


	Shares	Value
Common Stocks (98.33%) (a)
Australia (7.21%)
AGL Energy Ltd.	12,033	$	130,215
Alumina Ltd.	60,921		70,024
Amcor Ltd.	22,102		88,873
AMP Ltd.	55,486		217,392
Aristocrat Leisure Ltd.	9,841		29,985
Arrow Energy Ltd. (b)	15,032		42,694
Australia & New Zealand Banking Group Ltd.	63,952		847,521
Australian Stock Exchange	4,863		144,487
AXA Asia Pacific Holdings Ltd.	27,826		86,918
Bendigo and Adelaide Bank Ltd.	7,285		40,705
BHP Billiton Ltd.	91,205		2,498,637
Billabong International Ltd.	5,798		40,750
BlueScope Steel Ltd.	48,312		97,962
Boral Ltd.	17,910		58,432
Brambles Ltd.	36,766		176,023
Caltex Australia Ltd.	3,766		41,823
CFS Retail Property Trust	42,893		56,824
Coca-Cola Amatil Ltd.	16,779		116,285
Cochlear Ltd.	1,570		72,876
Commonwealth Bank of Australia	40,364		1,265,243
Computershare Ltd.	11,101		80,460
Crown Ltd.	12,695		73,986
CSL Ltd.	16,678		431,229
CSR Ltd.	34,978		47,586
Dexus Property Group	130,136		78,297
Energy Resources of Australia Ltd.	1,751		32,856
Fairfax Media Ltd.	67,467		66,113
Fortescue Metals Group Ltd. (b)	36,110		109,446
Foster’s Group Ltd.	51,750		214,421
Goodman Fielder Ltd.	35,178		36,903
GPT Group	253,848		99,336
Harvey Norman Holdings Ltd.	13,901		36,850
Incitec Pivot Ltd.	41,898		79,736
Insurance Australia Group Ltd.	55,012		155,331
James Hardie Industries NV CDI (b)	9,715		32,781
Leighton Holdings Ltd.	3,950		74,503
Lend Lease Corp. Ltd.	13,365		75,212
Lion Nathan Ltd.	7,514		69,987
Macquarie Airports	20,130		37,423
Macquarie Group Ltd.	8,248		258,216
Macquarie Infrastructure Group	63,594		73,106
Metcash Ltd.	19,717		68,438
Mirvac Group	63,835		55,315
National Australia Bank Ltd.	52,377		943,633
Newcrest Mining Ltd.	13,311		325,337
Nufarm Ltd.	4,441		32,759
Onesteel Ltd.	35,378		73,125
Orica Ltd.	9,687		168,597
Origin Energy Ltd.	24,277		285,847
OZ Minerals Ltd.	81,467		59,724
Paladin Energy Ltd. (b)	15,175		59,662
Perpetual Ltd.	1,149		26,348


	Shares	Value
Common Stocks (Cont.)
Australia (Cont.)
Qantas Airways Ltd.	27,618	$	44,722
QBE Insurance Group Ltd.	27,436		439,032
Rio Tinto Ltd.	7,787		325,273
Rio Tinto Ltd. - New (b)	4,088		171,953
Santos Ltd.	22,938		268,755
Sims Group Ltd.	3,988		83,041
Sonic Healthcare Ltd.	9,500		94,232
SP AusNet	38,979		24,169
Stockland	61,219		157,916
Suncorp-Metway Ltd.	35,290		189,737
Tabcorp Holding Ltd.	15,578		89,653
Tatts Group Ltd.	30,108		61,687
Telstra Corp. Ltd.	123,558		337,167
Toll Holdings Ltd.	17,765		89,151
Transurban Group	32,275		108,443
Wesfarmers Ltd.	27,773		505,678
Wesfarmers Ltd. PPS	4,287		81,020
Westfield Group	54,969		503,092
Westpac Banking Corp.	79,549		1,294,235
Woodside Petroleum Ltd.	13,476		465,542
Woolworths Ltd.	33,511		710,967
WorleyParsons Ltd.	4,699		89,555

			16,521,252

Austria (0.31%)
Erste Group Bank AG	4,812		130,637
Oesterreichische Elektrizitaetswirtschafts AG (Verbund) Class A	2,180		111,212
OMV AG	4,032		151,581
Raiffeisen International Bank Holding AG	1,512		52,782
Telekom Austria AG	8,659		135,561
Vienna Insurance Group	960		41,849
VoestAlpine AG	2,958		81,475

			705,097

Belgium (0.92%)
Anheuser-Busch InBev NV	19,726		715,252
Belgacom SA	4,478		143,200
Colruyt SA	450		102,803
Compagnie Nationale a Portefeuille	934		45,204
Delhaize Group	2,798		196,990
Dexia SA (b)	14,903		113,768
Fortis (b)	62,198		212,968
Fortis Rights (b) (c)	62,198		0
Groupe Bruxelles Lambert SA	2,303		168,822
KBC GROEP NV (b)	4,322		79,478
Mobistar SA	634		39,146
Solvay SA	1,512		127,909
UCB SA	2,743		88,087


	Shares	Value
Common Stocks (Cont.)
Belgium (Cont.)
Umicore	3,495	$	79,669

			2,113,296

Denmark (0.91%)
A P Moller-Maersk A/S Class A	15		87,910
A P Moller-Maersk A/S Class B	31		185,738
Carlsberg A/S Class B	2,852		182,957
Coloplast A/S Class B	708		48,678
Danske Bank A/S (b)	12,714		219,337
DSV A/S (b)	4,999		62,005
H. Lundbeck A/S	1,310		24,924
Novo Nordisk A/S Class B	12,183		663,550
Novozymes A/S Class B	1,332		108,363
Topdanmark A/S (b)	431		50,341
Trygvesta A/S	461		27,193
Vestas Wind Systems A/S (b)	5,552		398,437
William DeMant Holding (b)	658		34,075

			2,093,508

Finland (1.26%)
Elisa OYJ	3,848		63,413
Fortum OYJ	11,877		270,714
Kesko OYJ	1,815		48,072
Kone Corp. OYJ Class B	4,112		126,269
Metso OYJ	3,640		68,140
Neste Oil OYJ	3,730		51,906
Nokia OYJ	102,657		1,503,625
Nokian Renkaat OYJ	3,017		56,773
Orion OYJ Class B	2,451		38,441
Outokumpu OYJ	3,375		58,322
Pohjola Bank PLC	4,236		33,939
Rautaruukki OYJ	2,314		46,412
Sampo OYJ A Shares	11,516		217,743
Sanoma OYJ	2,121		32,890
Stora Enso OYJ R Shares (b)	16,305		86,246
UPM-Kymmene OYJ	13,515		117,943
Wartsila OYJ Class B	2,362		76,266

			2,897,114

France (10.26%)
Accor SA	4,178		166,460
Aeroports de Paris (ADP)	816		59,992
Air France-KLM	3,523		45,184
Air Liquide SA	6,717		616,322
Alcatel-Lucent (b)	60,369		151,389


	Shares	Value
Common Stocks (Cont.)
France (Cont.)
Alstom SA	5,564	$	330,370
ArcelorMittal	23,337		772,291
Atos Origin SA (b)	1,347		45,867
AXA	43,168		817,035
bioMerieux	279		24,537
BNP Paribas	22,915		1,494,338
Bouygues	6,241		236,021
Bureau Veritas SA	1,330		65,509
Cap Gemini SA	3,892		144,040
Carrefour SA	17,411		746,665
Casino Guichard Perrachon SA	1,331		90,142
Casino Guichard Perrachon SA
Rights (b) (c)	1,199		4,626
Christian Dior SA	1,673		125,322
CNP Assurances	992		94,914
Compagnie de Saint-Gobain	10,144		341,321
Compagnie Generale de Geophysique-Veritas (b)	3,660		66,256
Compagnie Generale des Etablissements Michelin Class B	3,987		228,341
Credit Agricole SA	24,058		301,644
Dassault Systemes SA	1,552		68,731
Eiffage SA	1,005		58,732
Electricite de France	6,473		316,063
Eramet (b)	143		37,562
Essilor International SA	5,449		260,575
Eurazeo	712		29,652
European Aeronautic Defence and Space Co.	10,984		178,385
Eutelsat Communications	2,783		72,033
Fonciere des Regions	587		44,258
France Telecom SA	50,254		1,143,456
GDF Suez	33,047		1,237,019
Gecina SA	482		29,904
Groupe DANONE	15,065		746,992
Hermes International SCA	1,454		202,438
ICADE	551		45,337
Iliad SA	446		43,373
Imerys SA	657		27,612
Imerys SA New (b) (c)	131		4,989
Ipsen SA	550		24,097
JC Decaux SA (b)	1,816		28,860
Klepierre	2,296		59,500
L'Oreal SA	6,645		498,796
Lafarge SA	3,828		260,447
Lafarge SA - New (b)	1,596		104,492
Lagardere SCA	3,553		118,454
Legrand SA	2,615		57,223
LVMH Moet Hennessy Louis Vuitton SA	6,704		514,152
M6 Metropole Television	1,858		35,238
Natixis (b)	19,984		38,895
Neopost SA	924		83,203


	Shares	Value
Common Stocks (Cont.)
France (Cont.)
PagesJaunes Groupe	3,355	$	32,708
Pernod Ricard SA	5,354		338,497
Peugeot SA (b)	4,351		114,863
PPR SA	2,032		166,577
Publicis Groupe SA	3,275		100,263
Renault SA (b)	4,918		181,702
Safran SA	4,878		64,608
Sanofi-Aventis	28,883		1,706,682
Schneider Electric SA	6,386		488,770
SCOR SE	5,075		104,273
SES FDR	7,856		150,222
Societe BIC SA	720		41,457
Societe des Autoroutes Paris-Rhin- Rhone	483		32,969
Societe Generale	12,789		701,994
Societe Television Francaise 1	3,413		38,470
Sodexo	2,693		138,656
STMicroelectronics NV	18,899		142,469
Suez Environnement SA	7,304		127,997
Technip SA	2,907		143,344
Thales SA	2,430		109,092
Total SA	58,241		3,156,685
Unibail-Rodamco	2,272		339,694
Vallourec SA	1,473		180,041
Veolia Environnement	10,479		309,828
Vinci SA	11,357		512,473
Vivendi	32,088		770,234

			23,533,622

Germany (7.36%)
Adidas AG	5,248		199,987
Allianz SE Reg.	12,414		1,145,093
BASF SE	25,108		1,000,341
Bayer AG	20,791		1,117,306
Bayerische Motoren Werke (BMW) AG	8,782		331,739
Beiersdorf AG	2,512		118,331
Celesio AG	2,376		54,580
Commerzbank AG (b)	19,718		122,916
Daimler AG Registered Shares	24,680		896,268
Deutsche Bank AG Reg.	15,287		929,305
Deutsche Boerse AG	5,264		409,668
Deutsche Lufthansa AG Reg.	6,177		77,575
Deutsche Post AG	23,606		308,222
Deutsche Postbank AG (b)	2,343		59,715
Deutsche Telekom AG	77,756		919,270
E.On AG	51,829		1,839,813
Fraport AG	1,039		44,550
Fresenius Medical Care AG & Co. KGaA	5,352		240,498
Fresenius SE	745		34,861
GEA Group AG	4,266		64,780
Hamburger Hafen und Logistik AG	703		27,161


	Shares	Value
Common Stocks (Cont.)
Germany (Cont.)
Hannover Rueckversicherung AG Reg. (b)	1,534	$	56,708
Henkel AG & Co. KGaA	3,668		98,948
Hochtief AG	1,190		60,092
K+S Group AG	4,140		233,521
Linde AG	4,054		333,047
MAN AG	2,909		178,988
Merck KGaA	1,830		186,212
Metro AG	3,177		151,790
Muenchener Rueckversicherungs Gesellschaft AG Reg.	5,616		758,749
Puma AG	117		25,624
QIAGEN NV (b)	5,004		92,928
RWE AG	11,417		900,335
Salzgitter AG	1,012		89,198
SAP AG	23,597		951,388
Siemens AG	22,507		1,556,408
Solarworld AG	2,412		57,083
Suedzucker AG	1,409		28,557
ThyssenKrupp AG	9,076		226,105
TUI AG (b)	4,092		30,212
United Internet AG Reg. (b)	3,537		41,551
Volkswagen AG	2,430		823,242
Wacker Chemie AG	429		49,541

			16,872,206

Greece (0.57%)
Alpha Bank AE (b)	10,159		111,221
Bank of Cyprus Public Company Ltd.	14,036		79,295
Coca-Cola Hellenic Bottling Co. SA	4,956		102,147
EFG Eurobank Ergasias (b)	8,697		91,479
Hellenic Petroleum SA	3,019		29,190
Hellenic Telecommunications Organization SA	7,019		107,336
Marfin Investment Group SA (b)	16,955		72,760
National Bank of Greece SA (b)	13,460		373,396
OPAP SA	6,370		169,856
Piraeus Bank SA (b)	7,659		76,253
Public Power Corp. SA (b)	2,789		57,548
Titan Cement Co. SA	1,660		43,806

			1,314,287

Hong Kong (2.39%)
ASM Pacific Technology	4,500		23,012
Bank of East Asia Ltd.	41,025		124,330
BOC Hong Kong Holdings Ltd.	105,000		182,690
Cathay Pacific Airways Ltd.	29,000		39,784
Cheung Kong Holdings Ltd.	37,000		423,062
Cheung Kong Infrastructure Holdings Ltd.	12,000		42,038
Chinese Estates Holdings Ltd.	16,000		29,230
CLP Holdings Ltd.	54,783		363,002


	Shares	Value
Common Stocks (Cont.)
Hong Kong (Cont.)
Esprit Holdings Ltd.	29,500	$	163,897
Foxconn International Holdings Ltd. (b)	61,000		39,660
Hang Lung Group Ltd.	24,000		112,305
Hang Lung Properties Ltd.	58,000		190,996
Hang Seng Bank Ltd.	20,674		289,357
Henderson Land Development Co. Ltd.	29,926		170,764
Hong Kong & China Gas Co. Ltd.	108,605		227,982
Hong Kong Aircraft Engineering Co. Ltd.	2,000		23,239
Hong Kong Exchanges & Clearing Ltd.	27,500		425,054
Hongkong Electric Holdings Ltd.	38,500		213,872
Hopewell Holdings	16,000		49,960
Hutchison Whampoa Ltd.	57,210		372,159
Hysan Development Co. Ltd.	17,000		43,531
Kerry Properties Ltd.	18,000		78,408
Li & Fung Ltd.	57,000		152,192
Lifestyle International Holdings Ltd.	19,000		26,267
Link REIT	60,000		127,519
Mongolia Energy Corporation Ltd. (b)	50,000		18,297
MTR Corp.	40,000		119,495
New World Development Co. Ltd.	67,800		122,042
NWS Holdings Ltd.	23,000		41,414
Orient Overseas International Ltd.	6,600		28,006
PCCW Ltd.	81,000		21,092
Shangri-La Asia Ltd.	38,271		56,525
Sino Land Co. Ltd.	42,000		69,143
Sun Hung Kai Properties Ltd.	39,000		484,294
Swire Pacific Ltd. Class A	23,000		230,872
Television Broadcasts Ltd.	8,000		32,040
Wharf Holdings Ltd.	39,503		166,555
Wheelock and Co. Ltd.	26,000		66,820
Wing Hang Bank Ltd.	5,500		48,010
Yue Yuen Industrial Holdings Ltd.	15,500		36,462

			5,475,377

Ireland (0.30%)
Anglo Irish Bank Corp. PLC (b) (c)	20,760		6,320
CRH PLC	18,198		418,265
Elan Corp. PLC (b)	13,286		87,238
Kerry Group PLC Class A	3,471		79,114
Ryanair Holdings PLC (b)	18,704		86,452

			677,389

Italy (3.49%)
A2A SpA	31,700		57,933
ACEA SpA	1,868		22,810
Alleanza Assicurazioni SpA	12,056		82,854
Assicurazioni Generali SpA	28,855		600,962
Atlantia SpA	7,280		147,453
Autogrill SpA	3,167		26,761
Banca Carige SpA	15,801		43,408


	Shares	Value
Common Stocks (Cont.)
Italy (Cont.)
Banca Monte Dei Paschi di Siena SpA	64,209	$	103,782
Banca Popolare di Milano Scarl	11,828		70,578
Banca Popolare di Milano Scarl Rights (b) (c)	11,828		2
Banco Popolare Societa Cooperativa (b)	17,249		128,989
Enel SpA	180,939		883,327
Eni SpA	71,325		1,691,615
EXOR SpA	1,697		24,425
Fiat SpA (b)	20,177		203,453
Finmeccanica SpA	11,527		162,553
Fondiaria Sai SpA	2,180		35,189
Intesa Sanpaolo (b)	207,831		671,607
Intesa Sanpaolo RNC (b)	26,794		66,243
Italcementi SpA	2,020		23,129
Lottomatica SpA	1,331		25,700
Luxottica Group SpA (b)	3,314		68,942
Mediaset SpA	19,593		110,000
Mediobanca SpA	12,782		152,315
Mediolanum SpA	5,139		27,454
Parmalat SpA	44,332		107,075
Pirelli & Co. SpA (b)	48,856		17,130
Prysmian SpA	2,396		36,114
Saipem SpA	7,262		177,422
Saras SPA (b)	7,133		20,365
Snam Rete Gas SpA	40,883		179,589
Telecom Italia RNC SpA	157,866		155,515
Telecom Italia SpA	277,256		384,409
Tenaris SA	12,328		168,178
Terna - Rete Elettrica Nationale SpA	34,180		113,994
UBI Banca - Unione di Banche Italiane ScpA	17,199		1,327
UBI Banca - Unione di Banche Italiane ScpA Rights (b) (c)	16,126		1,102
UniCredit SpA (b)	391,632		990,549
Unione di Banche Italiane Scpa	16,126		210,141
Unipol Gruppo Finanziario SpA (b)	14,383		16,874

			8,011,268

Japan (23.70%)
77 Bank Ltd.	10,000		58,223
ABC-Mart Inc.	600		15,403
Acom Co. Ltd.	1,310		32,648
Advantest Corp.	3,980		72,477
Aeon Co. Ltd.	18,200		179,579
Aeon Credit Service Co. Ltd.	2,100		27,475
Aeon Mall Co. Ltd.	1,900		36,057
Aioi Insurance Co. Ltd.	13,000		59,252
Aisin Seiki Co. Ltd.	5,500		118,819
Ajinomoto Co. Inc.	18,000		142,391
Alfresa Holdings Corp.	800		36,959
All Nippon Airways Co. Ltd.	16,000		55,906
Amada Co. Ltd.	10,000		61,972


	Shares	Value
Common Stocks (Cont.)
Japan (Cont.)
Aozora Bank Ltd. (b)	21,000	$	32,420
Asahi Breweries Ltd.	10,500		150,462
Asahi Glass Co. Ltd.	27,000		216,270
Asahi Kasei Corp.	33,000		167,434
ASICS Corp.	5,000		45,606
Astellas Pharma Inc.	12,351		436,140
Bank of Kyoto Ltd.	8,000		74,150
Bank of Yokohama Ltd.	34,000		181,988
Benesse Corp.	1,900		76,187
Bridgestone Corp.	16,400		256,897
Brother Industries Ltd.	6,200		54,838
Canon Inc.	29,300		957,055
Canon Marketing Japan Inc.	2,000		27,960
Casio Computer Co. Ltd.	7,000		62,698
Central Japan Railway Co.	42		258,194
Chiba Bank Ltd.	21,000		137,053
Chubu Electric Power Co. Inc.	18,100		417,997
Chugai Pharmaceutical Co. Ltd.	6,400		121,785
Chugoku Bank Ltd.	4,000		55,458
Chugoku Electric Power Co. Inc.	7,300		152,417
Chuo Mitsui Trust Holdings Inc.	25,000		95,257
Citizen Holdings Co. Ltd.	9,300		47,624
Coca-Cola West Co. Ltd.	1,700		32,514
Cosmo Oil Co. Ltd.	15,000		50,784
Credit Saison Co. Ltd.	4,600		58,350
Dai Nippon Printing Co. Ltd.	15,000		205,378
Daicel Chemical Industries Ltd.	8,000		48,482
Daido Steel Co. Ltd.	7,000		28,619
Daihatsu Motor Co. Ltd.	5,000		46,476
Daiichi Sanyko Co. Ltd.	18,713		334,017
Daikin Industries Ltd.	6,600		212,411
Dainippon Sumitomo Pharma Co. Ltd.	5,000		43,626
Daito Trust Construction Co. Ltd.	2,300		108,451
Daiwa House Industry Co. Ltd.	14,000		150,542
Daiwa Securities Group Inc.	35,000		207,977
DeNa Co. Ltd.	8		26,711
Denki Kagaku Kogyo KK	14,000		38,883
Denso Corp.	13,000		333,225
Dentsu Inc.	5,000		104,923
DIC Corp.	18,000		28,119
Dowa Holdings Co. Ltd.	7,000		29,055
East Japan Railway Co.	9,200		553,894
Eisai Co. Ltd.	6,700		237,885
Electric Power Development Co. Ltd.	3,380		95,904
Elpida Memory Inc. (b)	2,700		29,078
Familymart Co. Ltd.	1,500		47,133
Fanuc Ltd.	5,200		416,709
Fast Retailing Co. Ltd.	1,300		169,422
Fuji Electric Holdings Co. Ltd.	15,000		24,768
Fuji Heavy Industries Ltd.	16,000		64,642
Fuji Media Holdings Inc.	9		13,544
FUJIFILM Holdings Corp.	13,600		432,817
Fujitsu Ltd.	52,000		282,476


	Shares	Value
Common Stocks (Cont.)
Japan (Cont.)
Fukuoka Financial Group Inc.	21,000	$	93,917
Furukawa Electric Co. Ltd.	18,000		80,976
GS Yuasa Corp.	8,000		70,200
Gunma Bank Ltd.	11,000		61,153
Hakuhodo DY Holdings Inc.	590		31,805
Hankyu Hanshin Holdings Inc.	31,000		145,128
Hikari Tsushin Inc.	700		15,781
Hino Motors Ltd.	8,000		24,907
Hirose Electric Co. Ltd.	900		96,019
Hisamitsu Pharmaceutical Co. Inc.	1,700		52,816
Hitachi Chemical Co. Ltd.	3,100		49,912
Hitachi Construction Machinery Co. Ltd.	3,000		48,754
Hitachi High-Technologies Corp.	2,000		33,981
Hitachi Ltd.	92,000		286,306
Hitachi Metals Ltd.	5,000		42,559
Hokkaido Electric Power Co. Inc.	4,800		89,874
Hokuhoku Financial Group Inc.	32,000		80,211
Hokuriku Electric Power Co.	5,000		114,355
Honda Motor Co. Ltd.	45,200		1,243,490
Hoya Corp.	11,200		224,357
Ibiden Co. Ltd.	3,600		100,943
Idemitsu Kosan Co. Ltd.	600		51,404
IHI Corp. (b)	39,000		67,369
INPEX Corp.	23		183,383
Isetan Mitsukoshi Holdings Ltd.	9,080		92,384
Isuzu Motors Ltd.	35,000		56,151
Ito En Ltd.	1,600		22,754
Itochu Corp.	40,000		277,569
Itochu Techno-Solutions Corp.	800		23,775
Iyo Bank Ltd.	7,000		71,351
J. Front Retailing Co. Ltd.	11,400		54,396
JAFCO Co. Ltd.	1,000		33,579
Japan Airlines Corp. (b)	23,000		44,381
Japan Petroleum Exploration Co.	900		49,815
Japan Prime Realty Investment Corp.	16		34,516
Japan Real Estate Investment Corp.	11		91,244
Japan Retail Fund Investment Corp.	10		46,133
Japan Steel Works Ltd.	9,000		110,916
Japan Tobacco Inc.	122		381,352
JFE Holdings Inc.	13,600		456,924
JGC Corp.	6,000		96,575
Joyo Bank Ltd.	19,000		96,943
JS Group Corp.	7,500		115,749
JSR Corp.	5,000		85,643
JTEKT Corp.	5,100		51,542
Jupiter Telecommunications Co. Ltd.	64		48,546
Kajima Corp.	25,000		77,825
Kamigumi Co. Ltd.	7,000		59,161
Kaneka Corp.	8,000		56,845
Kansai Electric Power Co. Inc.	21,200		467,639
Kansai Paint Co. Ltd.	7,000		50,155
Kao Corp.	14,000		304,645


	Shares	Value
Common Stocks (Cont.)
Japan (Cont.)
Kawasaki Heavy Industries Ltd.	40,000	$	110,184
Kawasaki Kisen Kaisha Ltd.	16,000		65,633
KDDI Corp.	80		424,484
Keihin Electric Express Railway Co. Ltd.	12,000		93,051
Keio Corp.	15,000		87,129
Keisei Electric Railway Co. Ltd.	8,000		47,696
Keyence Corp.	1,164		237,140
Kikkoman Corp.	4,000		40,057
Kinden Corp.	4,000		35,149
Kintetsu Corp.	45,000		198,357
Kirin Holdings Co. Ltd.	23,000		320,886
Kobe Steel Ltd.	66,000		122,919
Komatsu Ltd.	25,700		396,796
Konami Corp.	2,600		49,787
Konica Minolta Holdings Inc.	12,500		130,606
Kubota Corp.	28,000		230,579
Kuraray Co. Ltd.	10,000		110,858
Kurita Water Industries Ltd.	3,000		96,887
Kyocera Corp.	4,400		330,326
Kyowa Hakko Kirin Co. Ltd.	6,000		67,692
Kyushu Electric Power Co. Ltd.	10,600		228,129
Lawson Inc.	1,600		70,426
Leopalace21 Corp.	3,600		32,169
Mabuchi Motor Co. Ltd.	800		38,595
Makita Corp.	3,300		79,855
Marubeni Corp.	46,000		203,448
Marui Group Co. Ltd.	6,400		44,800
Maruichi Steel Tube Ltd.	1,100		20,745
Matsui Securities Co. Ltd.	2,700		24,484
Mazda Motor Corp.	24,000		61,380
McDonald’s Holdings Company Ltd. (Japan)	1,000		18,569
Mediceo Paltac Holdings Co. Ltd.	4,200		47,953
MEIJI Holdings Company Ltd. (b)	2,019		81,317
Minebea Co. Ltd.	10,000		42,558
Mitsubishi Chemical Holdings Corp.	33,500		141,697
Mitsubishi Corp.	37,000		682,769
Mitsubishi Electric Corp.	54,000		341,287
Mitsubishi Estate Co. Ltd.	32,000		531,253
Mitsubishi Gas Chemical Co. Inc.	11,000		59,976
Mitsubishi Heavy Industries Ltd.	82,000		339,342
Mitsubishi Logistics Corp.	3,000		33,143
Mitsubishi Materials Corp.	32,000		99,628
Mitsubishi Motors Corp. (b)	99,000		185,541
Mitsubishi Rayon Co. Ltd.	15,000		43,588
Mitsubishi Tanabe Pharma Corp.	6,000		68,932
Mitsubishi UFJ Financial Group Inc.	254,160		1,569,386
Mitsubishi UFJ Lease & Finance Co. Ltd.	1,420		46,291
Mitsui & Co. Ltd.	47,000		556,935
Mitsui Chemicals Inc.	15,000		47,816
Mitsui Engineering & Shipbuilding Co. Ltd.	21,000		49,328
Mitsui Fudosan Co. Ltd.	23,000		398,916


	Shares	Value
Common Stocks (Cont.)
Japan (Cont.)
Mitsui Mining & Smelting Co. Ltd. (b)	17,000	$	43,891
Mitsui OSK Lines Ltd.	32,000		206,795
Mitsui Sumitomo Insurance Group Holdings Inc.	11,400		298,233
Mitsumi Electric Co. Ltd.	2,300		49,132
Mizuho Financial Group Inc.	255,600		593,845
Mizuho Trust & Banking Co. Ltd. (b)	40,000		51,713
Murata Manufacturing Co. Ltd.	5,800		247,541
Namco Bandai Holdings Inc.	4,900		53,742
NEC Corp. (b)	51,000		199,491
NGK Insulators Ltd.	7,000		142,672
NGK Spark Plug Co. Ltd.	5,000		47,732
NHK Spring Co. Ltd.	4,000		26,808
Nidec Corp.	3,000		182,608
Nikon Corp.	9,000		155,705
Nintendo Co. Ltd.	2,700		747,238
Nippon Building Fund Inc.	14		119,672
Nippon Electric Glass Co. Ltd.	10,000		111,795
Nippon Express Co. Ltd.	22,000		99,874
Nippon Meat Packers Inc.	5,000		62,952
Nippon Mining Holdings Inc.	25,000		129,187
Nippon Oil Corp.	35,000		206,098
Nippon Paper Group Inc.	2,500		64,673
Nippon Sheet Glass Co. Ltd.	17,000		49,536
Nippon Steel Corp.	141,000		539,806
Nippon Telegraph & Telephone Corp.	14,300		582,373
Nippon Yusen Kabushiki Kaish	29,000		124,879
NIPPONKOA Insurance Co. Ltd.	18,000		104,721
Nishi-Nippon City Bank Ltd.	19,000		48,000
Nissan Chemical Industries Ltd.	4,000		44,965
Nissan Motor Co. Ltd.	67,800		411,471
Nissay Dowa General Insurance Company Ltd.	3,000		14,492
Nisshin Seifun Group Inc.	4,500		53,465
Nisshin Steel Co. Ltd.	18,000		40,180
Nisshinbo Industries Inc.	4,000		45,124
Nissin Foods Holdings Co. Ltd.	2,200		66,524
Nitori Co. Ltd.	1,150		81,438
Nitto Denko Corp.	4,700		143,296
NOK Corp.	3,100		36,019
Nomura Holdings Inc.	67,500		569,757
Nomura Real Estate Holdings Inc.	1,500		25,818
Nomura Real Estate Office Fund Inc.	7		44,502
Nomura Research Institute Ltd.	3,000		66,502
NSK Ltd.	13,000		65,808
NTN Corp.	12,000		48,064
NTT Data Corp.	35		112,977
NTT DoCoMo Inc.	428		626,009
NTT Urban Development Corp.	35		33,739
Obayashi Corp.	18,000		88,112
OBIC Co. Ltd.	170		27,548
Odakyu Electric Railway Co. Ltd.	18,000		153,884
Oji Paper Co. Ltd.	24,000		103,115


	Shares	Value
Common Stocks (Cont.)
Japan (Cont.)
Olympus Corp.	6,000	$	141,296
Omron Corp.	6,000		86,929
Ono Pharmaceutical Co. Ltd.	2,500		110,898
Onward Holdings Co. Ltd.	4,000		25,704
Oracle Corp. Japan	1,200		44,007
Oriental Land Co. Ltd.	1,400		93,868
Orix Corp.	2,420		144,039
Osaka Gas Co. Ltd.	54,000		172,125
OSAKA Titanium technologies Co.	600		21,984
OTSUKA Corp.	400		21,362
Panasonic Corp.	53,500		720,783
Panasonic Electric Works Co. Ltd.	11,114		105,045
Promise Co. Ltd.	1,600		20,415
Rakuten Inc.	203		122,324
Resona Holdings Inc.	14,000		196,243
Ricoh Co. Ltd.	19,000		244,762
RINNAI Corp.	800		35,358
Rohm Co. Ltd.	2,600		189,639
Sankyo Co. Ltd.	1,600		85,349
Santen Pharmaceutical Co. Ltd.	2,100		63,975
Sanyo Electric Co. Ltd. (b)	44,000		113,957
Sapporo Hokuyo Holdings Inc. (b)	8,000		22,946
Sapporo Holdings Ltd.	7,000		40,038
SBI Holdings Inc.	467		94,840
Secom Co. Ltd.	5,800		235,397
Sega Sammy Holdings Inc.	4,568		57,897
Seiko Epson Corp.	3,700		60,383
Sekisui Chemical Co. Ltd.	12,000		75,220
Sekisui House Ltd.	13,000		131,663
Seven & I Holdings Co. Ltd.	20,840		488,752
Seven Bank Ltd.	10		26,224
Sharp Corp.	27,000		280,104
Shikoku Electric Power Co. Inc.	4,500		134,211
Shimadzu Corp.	6,000		47,942
Shimamura Co. Ltd.	600		47,774
Shimano Inc.	1,900		72,999
Shimizu Corp.	17,000		73,787
Shin-Etsu Chemical Co. Ltd.	11,300		524,082
Shinko Electric Industries Co. Ltd.	1,900		23,477
Shinko Securities Co. Ltd.	16,000		50,072
Shinsei Bank Ltd. (b)	27,000		43,107
Shionogi & Co. Ltd.	8,000		154,568
Shiseido Co. Ltd.	9,000		147,237
Shizuoka Bank Ltd.	16,000		158,348
Showa Denko K.K.	31,000		55,290
Showa Shell Sekiyu K.K.	5,200		55,022
SMC Corp.	1,400		150,324
Softbank Corp.	20,800		405,203
Sojitz Corp.	33,000		72,369
Sompo Japan Insurance Inc.	24,000		159,927
Sony Corp.	27,600		720,057
Sony Financial Holdings Inc.	25		68,929
Square Enix Holdings Co. Ltd.	1,400		32,880


	Shares	Value
Common Stocks (Cont.)
Japan (Cont.)
Stanley Electric Co. Ltd.	3,500	$	70,972
SUMCO Corp.	3,300		46,883
Sumitomo Chemical Co. Ltd.	44,000		197,875
Sumitomo Corp.	30,000		304,941
Sumitomo Electric Industries Ltd.	20,200		226,479
Sumitomo Heavy Industries Ltd.	16,000		71,177
Sumitomo Metal Industries Ltd.	93,000		247,220
Sumitomo Metal Mining Co. Ltd.	14,000		196,670
Sumitomo Mitsui Financial Group Inc.	24,800		1,003,540
Sumitomo Realty & Development Co. Ltd.	10,000		182,587
Sumitomo Rubber Industries Ltd.	4,900		39,393
Sumitomo Trust & Banking Co. Ltd.	38,000		203,904
Suruga Bank Ltd.	6,000		57,405
Suzuken Co. Ltd.	1,940		56,202
Suzuki Motor Corp.	9,500		213,017
T&D Holdings Inc.	6,450		184,282
Taiheiyo Cement Corp.	26,000		44,555
Taisei Corp.	28,000		67,495
Taisho Pharmaceutical Co. Ltd.	4,000		75,706
Taiyo Nippon Sanso Corp.	8,000		76,470
Takashimaya Co. Ltd.	8,000		62,970
Takeda Pharmaceutical Co. Ltd.	20,400		793,151
TDK Corp.	3,200		150,222
Teijin Ltd.	26,000		83,571
Terumo Corp.	4,700		207,209
The Hachijuni Bank Ltd.	11,000		62,152
The Hiroshima Bank Ltd.	14,000		58,354
THK Co. Ltd.	3,500		52,176
Tobu Railway Co. Ltd.	24,000		140,875
Toho Co. Ltd.	3,300		53,679
Toho Gas Co. Ltd.	11,000		44,673
Tohoku Electric Power Co. Inc.	11,700		244,404
Tokio Marine Holdings Inc.	19,700		540,895
Tokuyama Corp.	6,000		44,042
Tokyo Broadcasting System Inc.	1,000		15,714
Tokyo Electric Power Co. Inc.	33,000		848,473
Tokyo Electron Ltd.	4,600		221,995
Tokyo Gas Co. Ltd.	64,000		228,636
Tokyo Steel Manufacturing Co. Ltd.	3,000		36,517
Tokyo Tatemono Co. Ltd.	8,000		44,551
Tokyu Corp.	31,000		156,383
Tokyu Land Corp.	12,000		54,518
TonenGeneral Sekiyu KK	7,000		71,246
Toppan Printing Co. Ltd.	16,000		161,201
Toray Industries Inc.	35,000		178,155
Toshiba Corp.	107,000		387,655
Tosoh Corp.	14,000		39,601
Toto Ltd.	7,000		48,851
Toyo Seikan Kaisha Ltd.	3,800		80,398
Toyo Suisan Kaisha Ltd.	2,000		41,207
Toyoda Gosei Co. Ltd.	2,000		54,002
Toyota Boshoku Corp.	1,900		28,323


	Shares	Value
Common Stocks (Cont.)
Japan (Cont.)
Toyota Industries Corp.	5,000	$	124,277
Toyota Motor Corp.	75,200		2,843,866
Toyota Tsusho Corp.	6,000		88,864
Trend Micro Inc.	3,000		95,795
Tsumura & Co.	1,500		46,808
UBE Industries Ltd.	28,000		78,138
Unicharm Corp.	1,200		91,674
UNY Co. Ltd.	5,000		42,721
Ushio Inc.	3,000		47,857
USS Co. Ltd.	710		36,571
West Japan Railway Co.	48		158,737
Yahoo! Japan Corp.	400		127,218
Yakult Honsha Co. Ltd.	2,700		51,578
Yamada Denki Co. Ltd.	2,390		139,046
Yamaguchi Financial Group Inc.	6,000		79,132
Yamaha Corp.	4,200		52,348
Yamaha Motor Co. Ltd.	5,100		56,654
Yamato Holdings Co. Ltd.	11,000		146,255
Yamato Kogyo Co. Ltd.	1,200		35,328
Yamazaki Baking Co. Ltd.	3,000		33,889
Yaskawa Electric Corp.	6,000		39,844
Yokogawa Electric Corp.	6,000		40,434

			54,338,704

Netherlands (2.27%)
Aegon NV	39,176		242,539
Akzo Nobel NV	6,295		278,257
ASML Holding NV - NY Reg.	11,531		249,933
Corio NV	1,172		57,158
Fugro NV	1,585		66,007
Heineken Holding NV	3,048		97,386
Heineken NV	6,563		244,592
ING Groep NV	53,591		542,931
Koninklijke Ahold NV	32,367		373,141
Koninklijke Boskalis Westminster NV CVA	1,547		35,215
Koninklijke DSM NV	4,144		130,314
Koninklijke KPN NV	46,941		647,677
Koninklijke Philips Electronics NV	26,733		493,571
Randstad Holding NV (b)	2,743		76,229
Reed Elsevier NV	17,640		195,050
SBM Offshore NV	4,013		68,910
TNT NV	9,708		189,751
Unilever NV CVA	44,336		1,072,311
Wolters Kluwer - CVA	8,109		142,256

			5,203,228

New Zealand (0.10%)
Auckland International Airport Ltd.	27,245		28,278
Contact Energy Ltd.	8,708		32,817
Fletcher Building Ltd.	13,804		58,559


	Shares	Value
Common Stocks (Cont.)
New Zealand (Cont.)
Sky City Entertainment Group Ltd.	12,916	$	22,311
Telecom Corp. of New Zealand Ltd.	49,904		87,599

			229,564

Norway (0.66%)
DnB NOR ASA (b)	20,896		159,666
Norsk Hydro ASA (b)	19,238		99,126
Orkla ASA	20,885		151,866
Renewable Energy Corp. AS (b)	6,597		51,511
Renewable Energy Corp. AS Rights (b) (c)	2,275		8,137
SeaDrill Ltd.	7,117		102,496
StatoilHydro ASA	31,130		614,916
Telenor ASA (b)	23,876		184,248
Yara International ASA	5,244		147,635

			1,519,601

Portugal (0.32%)
Banco Comercial Portugues SA - R	63,318		64,469
Banco Espirito Santo SA Reg.	14,273		76,968
Brisa	5,744		41,290
CIMPOR-Cimentos de Portugal SGPS SA	5,105		37,293
EDP Renovaveis SA (b)	5,727		58,752
Energias de Portugal SA	50,625		198,868
Galp Energia SGPS SA B Shares	4,273		60,232
Jeronimo Martins SGPS SA	6,111		41,683
Portugal Telecom SGPS SA	15,556		152,590

			732,145

Singapore (1.32%)
Ascendas Real Estate Investment Trust	30,000		32,707
Capitaland Ltd.	69,692		177,195
Capitamall Trust	57,000		54,821
City Developments Ltd.	15,031		88,578
Comfortdelgro Corp. Ltd.	54,000		47,571
Cosco Corp. Singapore Ltd.	22,000		18,842
DBS Group Holdings Ltd.	46,667		378,336
Fraser and Neave Ltd.	23,500		62,966
Genting International PLC (b)	102,000		47,749
Golden Agri-Resources Ltd.	142,480		37,136
Golden Agri-Resources Ltd. Rights (b) (c)	24,222		3,345
Jardine Cycle & Carriage Ltd.	4,015		52,995
Keppel Corp. Ltd.	37,002		175,394
Neptune Orient Lines Ltd.	13,000		13,197
Neptune Orient Lines Ltd. Rights (b) (c)	9,750		1,178
Noble Group Ltd.	33,600		41,878
Olam International Ltd.	30,900		51,528
Oversea-Chinese Banking Corp.	70,000		321,384


	Shares	Value
Common Stocks (Cont.)
Singapore (Cont.)
Sembcorp Industries Ltd.	25,200	$	52,257
Sembcorp Marine Ltd.	21,200		39,076
Singapore Airlines Ltd.	15,000		137,328
Singapore Exchange Ltd.	23,000		112,002
Singapore Press Holdings Ltd.	40,200		87,479
Singapore Technologies Engineering Ltd.	34,381		57,932
Singapore Telecommunications Ltd.	214,150		441,822
StarHub Ltd.	12,000		17,692
United Overseas Bank Ltd.	34,616		349,303
UOL Group Ltd.	16,461		37,351
Wilmar International Ltd.	23,000		79,330

			3,018,372

Spain (4.45%)
Abertis Infraestructuras SA	7,770		146,733
Acciona SA	728		89,896
Acerinox SA	3,066		56,959
ACS Actividades de Construccion y Servicios SA	4,049		205,537
Banco Bilbao Vizcaya Argentaria SA	96,342		1,213,087
Banco de Sabadell SA	25,514		159,577
Banco de Valencia SA	5,633		54,769
Banco Popular Espanol SA	20,658		180,754
Banco Santander SA (London)	4,542		54,624
Banco Santander SA (Madrid)	217,991		2,635,102
Bankinter SA	7,641		90,649
Cintra Concesiones de Infraestructuras de Transporte SA	6,357		39,604
Criteria Caixacorp SA	23,532		109,065
Enagas	5,274		104,080
Fomento de Construcciones y Contratas SA	878		36,126
Gamesa Corp Tecnologica SA	4,872		92,885
Gas Natural SDG SA	5,580		101,901
Gestevision Telecinco SA	2,804		26,260
Grifols SA	3,546		62,902
Grupo Ferrovial SA	1,726		55,633
Iberdrola Renovables (b)	23,780		109,020
Iberdrola SA	100,473		819,313
Iberia Lineas Aereas de Espana SA (b)	12,205		25,962
Inditex SA	6,134		295,210
Indra Sistemas SA	2,184		47,401
Mapfre SA	18,112		59,174
Red Electrica Corporacion SA	3,016		136,714
Repsol YPF SA	20,259		453,494
Sacyr Vallehermoso SA	2,515		34,984
Telefonica SA	115,314		2,618,727
Zardoya Otis SA	3,602		75,411


	Shares	Value
Common Stocks (Cont.)
Spain (Cont.)
Zardoya Otis SA-Temp Line (b) (c)	180	$	3,759

			10,195,312

Sweden (2.37%)
Alfa Laval AB	9,949		95,347
ASSA ABLOY AB Class B	8,948		125,118
Atlas Copco AB Class A	18,918		190,489
Atlas Copco AB Class B	10,840		98,479
Electrolux AB Series B (b)	6,176		86,400
Ericsson LM Class B	81,400		801,907
Getinge AB Class B	5,431		71,299
Hennes & Mauritz AB (H&M) B Shares	14,032		700,678
Holmen AB Class B	1,472		32,232
Husqvarna AB Class B (b)	11,629		63,480
Investor AB B Shares	12,258		189,540
Lundin Petroleum AB (b)	6,800		52,871
Millicom International Cellular SA (b)	1,961		110,620
Nordea Bank AB	88,242		701,292
Sandvik AB	26,616		198,376
Scania AB Class B	8,452		84,095
Securitas AB Class B	8,524		72,590
Skandinaviska Enskilda Banken AB Class A (b)	41,490		183,504
Skanska AB Class B	10,525		118,087
SKF AB B Shares	10,422		128,814
SSAB Svenskt Stal AB Series A	5,196		60,687
SSAB Svenskt Stal AB Series B	2,163		23,354
Svenska Cellulosa AB B Shares	15,114		159,126
Svenska Handelsbanken AB A Shares	13,186		250,049
Swedbank AB - A Shares (b)	9,866		57,677
Swedish Match AB	7,726		125,863
Tele2 AB Class B	8,629		87,391
TeliaSonera AB	60,735		319,661
Volvo AB A Shares	10,873		67,192
Volvo AB B Shares	29,422		182,227

			5,438,445

Switzerland (7.39%)
ABB Ltd. Reg. (b)	59,644		941,819
Actelion Ltd. Reg. (b)	2,690		140,994
Adecco SA Reg.	3,203		133,876
Aryzta AG (b)	2,151		69,378
Baloise Holding AG Reg.	1,448		107,678
BKW FMB Energie AG	296		21,795
Compagnie Financiere Richemont SA Class A	14,316		298,464
Credit Suisse Group AG Reg.	30,740		1,408,384
Geberit AG Reg. (b)	1,120		137,995
Givaudan SA Reg.	200		122,770
Holcim Ltd. (b)	5,654		321,906
Julius Baer Holding AG Reg.	5,884		228,842


	Shares	Value
Common Stocks (Cont.)
Switzerland (Cont.)
Kuehne & Nagel International AG Reg.	1,535	$	120,575
Lindt & Spruengli AG	22		41,122
Lindt & Spruengli AG Reg.	3		66,402
Logitech International SA (b)	4,888		67,944
Lonza Group AG Reg.	1,290		128,326
Nestle SA	99,413		3,753,681
Nobel Biocare Holding AG Reg.	3,330		72,873
Novartis AG	57,557		2,342,987
Pargesa Holding SA	741		46,277
Roche Holding AG	19,227		2,619,721
Schindler Holding AG	1,400		87,092
Schindler Holding AG Reg.	459		28,420
SGS SA	133		165,197
Sonova Holding AG Reg.	1,309		106,588
Straumann Holding AG	224		40,875
Swiss Life Holding AG Reg. (b)	855		74,000
Swiss Reinsurance	9,471		314,698
Swisscom AG	645		198,480
Syngenta AG Reg.	2,646		615,634
Synthes Inc.	1,592		153,938
The Swatch Group AG Class B	800		128,754
The Swatch Group AG Reg. (b)	1,199		39,378
UBS AG Reg. (b)	88,055		1,081,176
Zurich Financial Services AG Reg.	3,978		703,125

			16,931,164

United Kingdom (20.77%)
3i Group PLC	25,611		102,460
Admiral Group PLC	4,779		68,531
AMEC PLC	9,166		98,770
Anglo American PLC	36,006		1,052,784
Antofagasta PLC	11,041		107,196
Associated British Foods PLC	9,194		115,829
AstraZeneca PLC	39,419		1,738,083
Autonomy Corp. PLC (b)	5,885		139,443
Aviva PLC	71,860		404,599
BAE Systems PLC	97,010		542,095
Balfour Beatty PLC	11,946		60,874
Barclays PLC	265,435		1,233,491
BG Group PLC	91,951		1,548,427
BHP Billiton PLC	60,482		1,363,183
BP PLC	511,046		4,038,194
British Airways PLC (b)	16,505		34,008
British American Tobacco PLC	54,553		1,505,892
British Land Co. PLC	22,868		143,997
British Sky Broadcasting Group PLC	30,333		227,702
BT Group PLC	214,905		360,073
Bunzl PLC	9,724		80,638
Burberry Group PLC	11,442		79,742
Cable & Wireless PLC	69,125		151,724
Cadbury PLC	37,990		324,727
Cairn Energy PLC (b)	3,643		140,859


	Shares	Value
Common Stocks (Cont.)
United Kingdom (Cont.)
Capita Group PLC	17,359	$	204,676
Carnival PLC	4,284		114,099
Carphone Warehouse Group PLC	12,090		31,500
Centrica PLC	139,328		512,314
Cobham PLC	31,040		88,408
Compass Group PLC	49,520		279,526
Diageo PLC	68,433		982,912
Drax Group PLC	9,417		68,166
Eurasian Natural Resources Corp.	7,288		78,866
Experian PLC	27,345		205,069
FirstGroup PLC	12,742		75,242
Fresnillo PLC	4,799		41,207
Friends Provident Group PLC	69,012		74,629
G4S PLC	32,318		111,312
GlaxoSmithKline PLC	141,428		2,498,090
Hammerson PLC	19,934		101,081
Home Retail Group PLC	24,878		106,792
HSBC Holdings PLC	470,122		3,916,672
ICAP PLC	14,880		110,826
Imperial Tobacco Group PLC	27,865		725,258
InterContinental Hotels Group PLC	6,335		65,213
International Power PLC	42,445		166,716
Invensys PLC	22,863		84,419
Investec PLC	11,241		60,557
J Sainsbury PLC	29,498		152,335
Johnson Matthey PLC	5,688		108,012
Kazakhmys PLC	5,697		59,412
Kingfisher PLC	66,462		194,990
Ladbrokes PLC	18,919		57,333
Land Securities Group PLC	19,765		153,704
Legal & General Group PLC	155,708		145,642
Liberty International PLC	11,856		77,723
Lloyds TSB Group PLC	446,961		515,253
London Stock Exchange Group PLC	4,510		52,228
Lonmin PLC	3,966		76,872
Man Group PLC	44,885		205,748
Marks & Spencer Group PLC	43,231		217,998
National Grid PLC	66,826		603,019
Next PLC	5,130		124,292
Old Mutual PLC	145,472		194,274
Pearson PLC	21,528		216,793
Prudential PLC	67,934		464,361
Randgold Resources Ltd.	2,092		134,819
Reckitt Benckiser Group PLC	16,490		753,065
Reed Elsevier PLC	28,768		214,916
Rexam PLC	18,909		88,876
Rio Tinto PLC	24,347		843,172
Rio Tinto PLC FPR (b) (c)	12,979		437,738
Rolls-Royce Group PLC (b)	51,188		306,052
Royal Bank of Scotland Group PLC (b)	463,608		294,667
Royal Dutch Shell PLC Class A	96,562		2,422,193
Royal Dutch Shell PLC Class B	73,320		1,845,863
RSA Insurance Group PLC	89,228		177,176


	Shares	Value
Common Stocks (Cont.)
United Kingdom (Cont.)
SABMiller PLC	24,829	$	506,957
Sage Group PLC	37,679		110,707
Schroders PLC	3,398		45,978
Scottish & Southern Energy PLC	25,184		473,818
Segro PLC	159,848		63,922
Serco Group PLC	14,001		97,432
Severn Trent PLC	6,455		116,404
Shire Ltd.	15,627		215,681
Smith & Nephew PLC	24,406		181,194
Smiths Group PLC	11,182		129,385
Standard Chartered PLC	52,078		979,225
Standard Life PLC	62,004		190,444
Tesco PLC	214,684		1,253,724
The Berkeley Group Holdings PLC (b)	2,624		34,785
Thomas Cook Group PLC	10,586		35,870
Thomson Reuters PLC	4,840		138,431
Tomkins PLC	24,516		59,802
Tui Travel PLC	16,950		64,794
Tullow Oil PLC	21,845		338,335
Unilever PLC	35,341		830,588
United Utilities Group PLC	18,193		149,184
Vedanta Resources PLC	4,008		85,328
Vodafone Group PLC	1,432,813		2,786,739
Whitbread PLC	4,390		59,214
William Morrison Supermarkets PLC	55,871		218,221
Wolseley PLC (b)	7,863		150,528
WPP PLC	33,889		225,362
Xstrata PLC	52,074		565,954

			47,613,403

Total Common Stocks
(cost $260,722,199)			225,434,354

Preferred Stocks (0.32%) (a)
Germany (0.32%)
Bayerische Moteren Werke (BMW) AG PFD	1,396		33,712
Fresenius SE PFD	2,150		116,321
Henkel AG & Co. KGaA PFD	5,109		159,549
Porsche Automobil Holding SE PFD	2,245		151,112
RWE AG-Non Voting PFD	1,105		73,791
Volkswagen AG PFD	2,910		203,634

			738,119

Total Preferred Stocks
(cost $655,109)			738,119


	Principal amount		Value
Repurchase Agreement (0.04%)
State Street Bank & Trust Co. Repurchase Agreement, (d) 0.010%, agreement date 06/30/2009, to be repurchased at $89,108 on 07/01/2009	$	89,108	$	89,108

Total Repurchase Agreement
(cost $89,108)				89,108

TOTAL INVESTMENTS (98.69%)
(cost $261,466,416)				226,261,581
CASH (e) AND OTHER ASSETS, NET OF LIABILITIES (1.31%)				2,995,539

NET ASSETS (100.0%)			$	229,257,120

(a)

(b)	Non-income producing security.

(c)	In accordance with the Trust’s Valuation Procedures, SFIMC determined the fair value for the security considering the facts and circumstances related to the particular security. The fair value for this security was not determined using the Trust’s independent statistical fair value service.

(d)	Repurchase agreement is fully collateralized by a U.S. Government Agency security with a coupon rate of 5.00%, a maturity date of September 15, 2024, and a market value of $92,156 as of June 30, 2009.

(e)	At June 30, 2009, cash has been pledged to cover, in whole or in part, initial margin requirements for open futures contracts.

FDR - Fiduciary Depository Receipt


INTERNATIONAL EQUITY INDEX FUND FOREIGN CURRENCY DENOMINATIONS

Currency	Value		%
Euro	$	72,938,460	32.24	%
Japanese Yen		54,338,704	24.01
British Pound		47,668,026	21.07
Swiss Franc		16,931,164	7.48
Australian Dollar		16,521,252	7.30
Hong Kong Dollar		5,475,377	2.42
Swedish Krona		5,438,445	2.40
Singapore Dollar		3,018,372	1.34
Danish Krone		2,093,508	0.93
Norwegian Krone		1,519,601	0.67
New Zealand Dollar		229,564	0.10
United States Dollar		89,108	0.04

Total Investments	$	226,261,581	100.00	%


INTERNATIONAL EQUITY INDEX FUND SECTOR CLASSIFICATIONS

Sector	Value		%
Financials	$	55,649,297	24.27	%
Industrials		25,709,890	11.21
Consumer Discretionary		22,661,386	9.88
Consumer Staples		22,640,965	9.88
Materials		21,059,656	9.19
Energy		19,610,080	8.55
Health Care		18,913,098	8.25
Utilities		14,504,865	6.33
Telecommunication Services		13,696,049	5.97
Information Technology		11,727,187	5.12

Total Stocks		226,172,473	98.65
Repurchase Agreement		89,108	0.04
Cash and Other Assets, Net of Liabilities		2,995,539	1.31

Net Assets	$	229,257,120	100.00	%


	Shares	Value
Registered Investment Companies (99.73%)
State Farm Variable Product Trust Bond Fund (39.92%) (a)	2,688,128	$	27,365,146
State Farm Variable Product Trust Large Cap Equity Index Fund (59.81%) (a)	4,403,701		40,998,454

Total Registered Investment Companies
(cost $81,568,405)			68,363,600

TOTAL INVESTMENTS (99.73%)
(cost $81,568,405)			68,363,600
CASH AND OTHER ASSETS, NET OF LIABILITIES (0.27%)			186,301

NET ASSETS (100.00%)		$	68,549,901

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


	Principal amount		Value
Corporate Bonds (87.47%)
Agriculture, Foods, & Beverage (8.31%)
Kraft Foods Inc.
4.125%, 11/12/2009	$	1,000,000	$	1,010,494
Campbell Soup Co.
6.750%, 02/15/2011		1,000,000		1,081,875
PepsiAmericas Inc.
5.625%, 05/31/2011		1,000,000		1,057,738
HJ Heinz Co.
6.625%, 07/15/2011		1,000,000		1,059,321
Hershey Co.
5.300%, 09/01/2011		500,000		531,625
ConAgra Foods Inc.
6.750%, 09/15/2011		106,000		113,356
Kraft Foods Inc.
5.625%, 11/01/2011		1,000,000		1,062,474
Pepsico Inc.
5.150%, 05/15/2012		1,000,000		1,083,001
PepsiAmericas Inc.
5.750%, 07/31/2012		500,000		535,854
General Mills Inc.
5.650%, 09/10/2012		500,000		533,603
HJ Heinz Co.
5.350%, 07/15/2013		500,000		522,779
Coca-Cola Enterprises Inc.
5.000%, 08/15/2013		500,000		524,350
Hershey Co.
5.450%, 09/01/2016		500,000		490,397
General Mills Inc.
5.700%, 02/15/2017		1,000,000		1,052,655
Coca-Cola Co.
5.350%, 11/15/2017		2,000,000		2,135,894
Pepsico Inc.
5.000%, 06/01/2018		1,000,000		1,027,820

				13,823,236

Automotive (0.31%)
Toyota Motor Credit Corp.
5.450%, 05/18/2011		500,000		523,408

Banks (8.11%)
Wells Fargo & Co.
4.200%, 01/15/2010		1,000,000		1,011,517
Bank of America Corp.
4.250%, 10/01/2010		1,500,000		1,504,770
Wells Fargo & Co.
4.875%, 01/12/2011		500,000		514,787
Bank of New York Mellon Corp.
4.950%, 01/14/2011		1,000,000		1,037,231
Wachovia Corp.
5.350%, 03/15/2011		500,000		519,466
Charter One Bank FSB
5.500%, 04/26/2011		1,000,000		1,015,086
Royal Bank of Canada
5.650%, 07/20/2011		500,000		533,057


	Principal amount		Value
Corporate Bonds (Cont.)
Banks (Cont.)
Bank of America Corp.
5.375%, 08/15/2011	$	500,000	$	511,182
Barclays Bank PLC
5.450%, 09/12/2012		1,000,000		1,042,609
Wachovia Corp.
5.700%, 08/01/2013		500,000		521,021
Mellon Funding Corp.
5.200%, 05/15/2014		500,000		514,792
US Bank NA
4.950%, 10/30/2014		500,000		515,989
Fifth Third Bank
4.750%, 02/01/2015		500,000		422,286
SunTrust Banks Inc.
5.000%, 09/01/2015		500,000		452,485
Wachovia Bank NA
5.600%, 03/15/2016		500,000		469,493
Wells Fargo Bank NA
5.750%, 05/16/2016		500,000		490,204
Bank of America NA
6.000%, 06/15/2016		500,000		452,218
Wachovia Corp.
5.750%, 06/15/2017		500,000		493,279
Deutsche Bank AG London
6.000%, 09/01/2017		1,000,000		1,020,112
Suntrust Banks Inc.
6.000%, 09/11/2017		500,000		452,675

				13,494,259

Building Materials & Construction (2.89%)
Lafarge SA
6.150%, 07/15/2011		500,000		505,367
CRH America Inc.
5.625%, 09/30/2011		500,000		490,729
Hanson Australia Funding
5.250%, 03/15/2013		1,000,000		786,300
Leggett & Platt Inc.
4.700%, 04/01/2013		1,000,000		978,610
Masco Corp.
4.800%, 06/15/2015		500,000		392,990
Hanson PLC
6.125%, 08/15/2016		500,000		373,750
CRH America Inc.
6.000%, 09/30/2016		1,000,000		889,928
Masco Corp.
5.850%, 03/15/2017		500,000		399,401

				4,817,075

Chemicals (2.73%)
Air Products & Chemicals Inc.
4.125%, 12/01/2010		1,000,000		1,020,704
E.I. du Pont de Nemours and Co.
4.125%, 03/06/2013		1,000,000		1,026,209


	Principal amount		Value
Corporate Bonds (Cont.)
Chemicals (Cont.)
Rohm & Haas Co.
5.600%, 03/15/2013	$	500,000	$	494,274
Praxair Inc.
5.375%, 11/01/2016		1,000,000		1,016,616
Rohm & Haas Co.
6.000%, 09/15/2017		500,000		447,033
E.I. du Pont de Nemours and Co.
6.000%, 07/15/2018		500,000		538,965

				4,543,801

Commercial Service/Supply (1.53%)
RR Donnelley & Sons Co.
4.950%, 05/15/2010		500,000		500,684
Dun & Bradstreet Corp.
5.500%, 03/15/2011		500,000		509,372
RR Donnelley & Sons Co.
5.625%, 01/15/2012		500,000		483,032
Pitney Bowes Inc.
5.750%, 09/15/2017		1,000,000		1,048,454

				2,541,542

Computers (0.64%)
International Business Machines Corp.
5.700%, 09/14/2017		1,000,000		1,061,663

Consumer & Marketing (4.95%)
Unilever Capital Corp.
7.125%, 11/01/2010		1,000,000		1,067,714
Avon Products Inc.
5.125%, 01/15/2011		500,000		521,848
Clorox Co.
6.125%, 02/01/2011		1,000,000		1,042,795
Whirlpool Corp.
6.125%, 06/15/2011		1,000,000		979,095
Reed Elsevier Capital
4.625%, 06/15/2012		500,000		483,311
Kimberly-Clark Corp.
5.000%, 08/15/2013		1,000,000		1,046,759
The Procter & Gamble Co.
4.950%, 08/15/2014		1,000,000		1,070,570
Black & Decker Corp.
5.750%, 11/15/2016		500,000		470,505
Estee Lauder Co. Inc.
5.550%, 05/15/2017		1,000,000		1,007,297
Kimberly-Clark Corp.
6.125%, 08/01/2017		500,000		548,426

				8,238,320

Electronic/Electrical Manufacturing (1.58%)
Emerson Electric Co.
5.750%, 11/01/2011		1,000,000		1,076,948


	Principal amount		Value
Corporate Bonds (Cont.)
Electronic/Electrical Manufacturing (Cont.)
General Electric Co.
5.000%, 02/01/2013	$	1,000,000	$	1,040,516
Emerson Electric Co.
5.125%, 12/01/2016		500,000		511,487

				2,628,951

Financial Services (6.41%)
Household Finance Corp.
4.125%, 11/16/2009		1,000,000		1,005,519
Citigroup Inc.
4.125%, 02/22/2010		500,000		500,122
John Deere Capital Corp.
4.875%, 10/15/2010		1,000,000		1,026,721
American Express Credit
5.000%, 12/02/2010		1,000,000		1,004,740
John Deere Capital Corp.
5.650%, 07/25/2011		500,000		522,767
American Express Co.
5.250%, 09/12/2011		500,000		504,469
AMB Property L.P.
6.300%, 06/01/2013		1,000,000		927,353
JPMorgan Chase & Co.
5.375%, 01/15/2014		500,000		503,370
General Electric Capital Corp.
4.875%, 03/04/2015		500,000		486,435
Citigroup Inc.
5.300%, 01/07/2016		500,000		430,680
General Electric Capital Corp.
5.375%, 10/20/2016		500,000		489,501
5.400%, 02/15/2017		500,000		484,108
John Deere Capital Corp.
5.500%, 04/13/2017		500,000		504,622
Citigroup Inc.
6.000%, 08/15/2017		500,000		435,883
Caterpillar Financial Services Corp.
5.850%, 09/01/2017		500,000		509,099
ProLogis
6.625%, 05/15/2018		500,000		393,702
Simon Property Group Inc.
6.125%, 05/30/2018		1,000,000		930,164

				10,659,255

Health Care (9.13%)
Amgen Inc.
4.000%, 11/18/2009		1,000,000		1,013,569
Baxter FinCo BV
4.750%, 10/15/2010		1,000,000		1,035,950
Abbott Laboratories
5.600%, 05/15/2011		500,000		534,197
Johnson & Johnson
5.150%, 08/15/2012		500,000		550,075


	Principal amount		Value
Corporate Bonds (Cont.)
Health Care (Cont.)
AstraZeneca PLC
5.400%, 09/15/2012	$	500,000	$	542,402
Merck & Co. Inc.
4.375%, 02/15/2013		1,000,000		1,036,395
Becton Dickinson & Co.
4.550%, 04/15/2013		1,000,000		1,039,249
Schering-Plough Corp.
5.550%, 12/01/2013		500,000		537,077
AstraZeneca PLC
5.400%, 06/01/2014		1,000,000		1,082,167
Boston Scientific Corp.
5.450%, 06/15/2014		1,000,000		920,000
Merck & Co. Inc.
4.750%, 03/01/2015		500,000		522,377
Abbott Laboratories
5.875%, 05/15/2016		500,000		545,310
Baxter International Inc.
5.900%, 09/01/2016		500,000		538,923
Eli Lilly & Co.
5.200%, 03/15/2017		1,000,000		1,047,724
Wyeth
5.450%, 04/01/2017		500,000		522,118
Amgen Inc.
5.850%, 06/01/2017		500,000		530,554
Johnson & Johnson
5.550%, 08/15/2017		500,000		543,451
AstraZeneca PLC
5.900%, 09/15/2017		500,000		535,415
Schering-Plough Corp.
6.000%, 09/15/2017		500,000		532,502
Bristol-Myers Squibb Co.
5.450%, 05/01/2018		500,000		529,748
GlaxoSmithKline Capital Inc.
5.650%, 05/15/2018		1,000,000		1,059,204

				15,198,407

Machinery & Manufacturing (6.56%)
3M Co.
5.125%, 11/06/2009		2,000,000		2,034,488
Honeywell International Inc.
7.500%, 03/01/2010		1,000,000		1,044,662
United Technologies Corp.
4.375%, 05/01/2010		1,500,000		1,543,297
Johnson Controls Inc.
5.250%, 01/15/2011		1,000,000		1,010,843
Caterpillar Inc.
6.550%, 05/01/2011		1,000,000		1,058,377
Bemis Co. Inc.
4.875%, 04/01/2012		500,000		457,496
Johnson Controls Inc.
4.875%, 09/15/2013		750,000		721,485
Caterpillar Inc.
5.700%, 08/15/2016		500,000		508,528


	Principal amount		Value
Corporate Bonds (Cont.)
Machinery & Manufacturing (Cont.)
Eaton Corp.
5.300%, 03/15/2017	$	1,000,000	$	961,144
Honeywell International Inc.
5.300%, 03/15/2017		500,000		524,899
Cooper U.S. Inc.
6.100%, 07/01/2017		1,000,000		1,056,863

				10,922,082

Media & Broadcasting (2.37%)
Gannett Co.
5.750%, 06/01/2011		1,000,000		771,037
The Walt Disney Co.
5.700%, 07/15/2011		1,000,000		1,069,898
Thomson Reuters Corp.
5.950%, 07/15/2013		1,000,000		1,022,976
The Walt Disney Co.
5.625%, 09/15/2016		1,000,000		1,074,359

				3,938,270

Mining & Metals (3.26%)
Alcan Inc.
6.450%, 03/15/2011		500,000		516,621
BHP Billiton Finance USA Ltd.
5.125%, 03/29/2012		500,000		525,196
BHP Finance USA
4.800%, 04/15/2013		1,000,000		1,039,817
Barrick Gold Finance Inc.
4.875%, 11/15/2014		1,000,000		1,025,856
Alcan Inc.
5.000%, 06/01/2015		500,000		448,393
Alcoa Inc.
5.550%, 02/01/2017		1,000,000		844,550
BHP Billiton Finance USA Ltd.
5.400%, 03/29/2017		500,000		522,257
Rio Tinto Finance USA Ltd.
6.500%, 07/15/2018		500,000		500,292

				5,422,982

Oil & Gas (5.91%)
BP Capital Markets PLC
4.875%, 03/15/2010		1,000,000		1,027,526
Shell International Finance
5.625%, 06/27/2011		1,500,000		1,613,226
Conoco Funding Co.
6.350%, 10/15/2011		1,000,000		1,091,381
National Fuel Gas Co.
5.250%, 03/01/2013		1,000,000		982,479
Anadarko Petroleum Corp.
5.950%, 09/15/2016		1,000,000		986,624
ConocoPhillips Canada
5.625%, 10/15/2016		500,000		532,453


	Principal amount		Value
Corporate Bonds (Cont.)
Oil & Gas (Cont.)
Apache Corp.
5.625%, 01/15/2017	$	500,000	$	524,559
Shell International Finance
5.200%, 03/22/2017		500,000		528,193
Canadian National Resources
5.700%, 05/15/2017		500,000		505,605
Weatherford International Inc.
6.350%, 06/15/2017		500,000		495,132
EOG Resources Inc.
5.875%, 09/15/2017		500,000		531,799
Husky Energy Inc.
6.200%, 09/15/2017		500,000		507,280
ConocoPhillips
5.200%, 05/15/2018		500,000		504,915

				9,831,172

Retailers (7.54%)
CVS Corp.
4.000%, 09/15/2009		1,000,000		1,005,822
Home Depot Inc.
3.750%, 09/15/2009		1,000,000		1,002,512
Wal-Mart Stores Inc.
4.000%, 01/15/2010		500,000		508,676
Home Depot Inc.
4.625%, 08/15/2010		500,000		509,398
5.200%, 03/01/2011		500,000		517,557
CVS Corp.
5.750%, 08/15/2011		500,000		528,741
Costco Wholesale Corp.
5.300%, 03/15/2012		1,000,000		1,074,721
Lowe’s Companies Inc.
5.600%, 09/15/2012		500,000		534,703
Walgreen Co.
4.875%, 08/01/2013		500,000		530,530
Lowe’s Companies Inc.
5.000%, 10/15/2015		1,000,000		1,058,010
Target Corp.
5.875%, 07/15/2016		1,000,000		1,082,590
Lowe’s Companies Inc.
5.400%, 10/15/2016		500,000		525,464
McDonald’s Corp.
5.300%, 03/15/2017		1,000,000		1,049,137
Wal-Mart Stores Inc.
5.375%, 04/05/2017		1,000,000		1,063,673
Target Corp.
5.375%, 05/01/2017		500,000		514,344
CVS Caremark Corp.
5.750%, 06/01/2017		500,000		502,584
Wal-Mart Stores Inc.
5.800%, 02/15/2018		500,000		544,672

				12,553,134


	Principal amount		Value
Corporate Bonds (Cont.)
Telecom & Telecom Equipment (4.69%)
SBC Communications Inc.
5.300%, 11/15/2010	$	1,000,000	$	1,038,211
Verizon Communications
5.350%, 02/15/2011		1,000,000		1,042,676
Cisco Systems Inc.
5.250%, 02/22/2011		1,000,000		1,054,439
Deutsche Telekom International Finance
5.375%, 03/23/2011		500,000		520,343
Vodafone Group PLC
5.500%, 06/15/2011		1,000,000		1,052,194
Telefonica Emisiones SAU
5.855%, 02/04/2013		1,000,000		1,054,138
BellSouth Corp.
5.200%, 09/15/2014		1,000,000		1,041,037
Verizon Communications
5.500%, 04/01/2017		1,000,000		1,001,717

				7,804,755

Utilities & Energy (10.55%)
Commonwealth Edison Co.
4.740%, 08/15/2010		1,000,000		1,012,014
Southern California Gas
4.375%, 01/15/2011		1,000,000		1,029,836
Appalachian Power Co.
5.550%, 04/01/2011		500,000		518,194
Duke Energy Corp.
6.250%, 01/15/2012		500,000		537,687
MidAmerican Energy Co.
5.650%, 07/15/2012		500,000		530,273
Appalachian Power Co.
5.650%, 08/15/2012		500,000		527,277
Vectren Utility Holdings
5.250%, 08/01/2013		500,000		506,220
Union Electric Co.
5.500%, 05/15/2014		1,000,000		1,010,185
Carolina Power & Light
5.250%, 12/15/2015		1,000,000		1,048,859
Ohio Power Co.
6.000%, 06/01/2016		1,000,000		1,018,513
Commonwealth Edison Co.
5.950%, 08/15/2016		500,000		519,879
Baltimore Gas & Electric Co.
5.900%, 10/01/2016		500,000		500,792
Consolidated Edison Co. NY
5.300%, 12/01/2016		1,000,000		1,038,939
Georgia Power Co.
5.700%, 06/01/2017		1,000,000		1,070,710
Jersey Central Power & Light
5.650%, 06/01/2017		1,000,000		979,945
Atmos Energy Corp.
6.350%, 06/15/2017		500,000		508,664


	Principal amount		Value
Corporate Bonds (Cont.)
Utilities & Energy (Cont.)
Kansas City Power & Light Co.
5.850%, 06/15/2017	$	1,000,000	$	967,872
Union Electric Co.
6.400%, 06/15/2017		500,000		513,385
MidAmerican Energy Co.
5.950%, 07/15/2017		500,000		538,916
Commonwealth Edison Co.
6.150%, 09/15/2017		500,000		519,451
Florida Power Corp.
5.800%, 09/15/2017		500,000		539,785
Virginia Electric & Power
5.950%, 09/15/2017		500,000		536,741
Public Service Electric and Gas Co.
5.300%, 05/01/2018		500,000		522,487
Florida Power Corp.
5.650%, 06/15/2018		500,000		533,547
Pacificorp
5.650%, 07/15/2018		500,000		531,918

				17,562,089

Total Corporate Bonds
(cost $142,634,972)				145,564,401

Government Agency Securities (4.04%) (a)
Federal Home Loan Mortgage Corp.
4.500%, 07/15/2013		1,500,000		1,614,623
5.300%, 05/12/2020		2,000,000		2,034,716
Federal National Mortgage Association
5.550%, 02/16/2017		3,000,000		3,063,297

Total Government Agency Securities
(cost $6,454,987)				6,712,636

U.S. Treasury Obligations (0.96%)
U.S. Treasury Notes
3.875%, 02/15/2013		1,500,000		1,599,024

Total U.S. Treasury Obligations
(cost $1,487,236)				1,599,024


	Shares or principal amount		Value
Short-term Investments (6.33%)
JPMorgan U.S. Government Money Market Fund		7,538,826	$	7,538,826
Chevron Corp.
0.240%, 07/16/2009	$	3,000,000		2,999,700

Total Short-term Investments
(cost $10,538,526)				10,538,526

TOTAL INVESTMENTS (98.80%)
(cost $161,115,721)				164,414,587
OTHER ASSETS, NET OF LIABILITIES (1.20%)				1,997,385

NET ASSETS (100.00%)			$	166,411,972

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


	Principal amount		Value
Short-term Investments (100.18%)
Agriculture, Foods, & Beverage (6.82%)
Coca-Cola Co. (a)
0.350%, 08/03/2009	$	2,300,000	$	2,299,262
Nestle Financial International
0.170%, 08/24/2009		1,000,000		999,745

				3,299,007

Automotive (9.91%)
Toyota Motor Credit Corp.
0.350%, 07/22/2009		1,000,000		999,796
American Honda Finance Corp.
0.800%, 07/08/2009		2,400,000		2,399,626
Toyota Motor Credit Corp.
0.270%, 08/13/2009		1,400,000		1,399,549

				4,798,971

Chemicals (4.96%)
Praxair Inc.
0.220%, 07/24/2009		2,400,000		2,399,663

Consumer & Marketing (4.96%)
Kimberly-Clark Worldwide (a)
0.210%, 07/24/2009		2,400,000		2,399,678

Financial Services (16.11%)
General Electric Capital Corp.
0.190%, 07/17/2009		2,400,000		2,399,797
Citigroup Funding (b)
0.230%, 07/28/2009		1,000,000		999,827
Caterpillar Financial Services Corp.
0.280%, 08/12/2009		2,400,000		2,399,216
GE Capital (b)
0.240%, 10/30/2009		2,000,000		1,998,387

				7,797,227

Government Agency Securities (47.62%) (c)
Federal National Mortgage Association
0.250%, 07/01/2009		1,000,000		1,000,000
0.270%, 07/31/2009		2,000,000		1,999,550
Federal Home Loan Mortgage Corp.
0.270%, 07/30/2009		2,000,000		1,999,565
0.300%, 08/03/2009		2,000,000		1,999,450
0.210%, 09/21/2009		2,500,000		2,498,804
Federal Home Loan Bank
0.220%, 07/06/2009		1,552,000		1,551,953
0.220%, 07/10/2009		1,000,000		999,945
0.270%, 07/14/2009		3,000,000		2,999,707
0.210%, 08/04/2009		3,000,000		2,999,405
0.140%, 08/12/2009		3,000,000		2,999,510
0.190%, 08/14/2009		2,000,000		1,999,536

				23,047,425


	Shares or principal amount		Value
Short-term Investments (Cont.)
Health Care (8.26%)
Merck & Co. Inc.
0.180%, 07/21/2009	$	1,600,000	$	1,599,840
Pfizer Inc.
0.350%, 12/01/2009		2,400,000		2,396,430

				3,996,270

Registered Investment Companies (1.54%)
JPMorgan U.S. Government Money
Market Fund		746,433		746,433

Total Short-term Investments
(cost $48,484,674)				48,484,674

TOTAL INVESTMENTS (100.18%)
(cost $48,484,674)				48,484,674
LIABILITIES, NET OF OTHER ASSETS (-0.18%)				(84,711	)

NET ASSETS (100.00%)			$	48,399,963

(a)

Securities exempt from registration under Section 4(2) of the Securities Act of 1933. These securities are purchased as part of the normal course of business, valued at amortized cost and may be resold in transactions exempt from registration, normally to qualified institutional buyers. At June 30, 2009, the value of these securities amounted to $4,698,940 or 9.71% of net assets.

(b)	Security is guaranteed under the FDIC Temporary Liquidity Guarantee Program.

(c)	The obligations of these 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, 2009. 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. large capitalization companies.

The Small/Mid Cap Equity Fund seeks long-term growth of capital. The Fund primarily invests in a diversified portfolio of small and mid-capitalization stocks issued by U.S. companies.

The International Equity Fund seeks long-term growth of capital. The International Equity Fund invests its assets primarily in securities issued by foreign companies. There is no restriction on the size of the companies in which the Fund invests.

The Large Cap Equity Index Fund (the “Large Cap Index Fund”) seeks to match the performance of the Standard and Poor’s Composite Index of 500 Stocks^® (the “S&P 500”)¹ 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 (the “Small Cap Index Fund”) seeks to match the performance of the Russell 2000^® Index (the “Russell 2000”)². 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 (the “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 (the “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”).

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 price 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 NASDAQ are valued at the NASDAQ Official Closing Price. 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.

Portfolio securities that are primarily traded on foreign securities exchanges (“foreign securities”) are valued at the closing values of such securities on the respective exchange where each security is primarily traded. In the event that State Farm Investment Management Corp. (“SFIMC”), the Trust’s investment adviser, determines that a market quotation for a foreign security held by a Fund is not reliable because of events or circumstances that have occurred between the time of the market quotation and the time the net asset value of the Fund is calculated (“subsequent event”), the security is valued at fair value in accordance with procedures established by the Trust’s Board of Trustees. A subsequent event might include company-specific developments, a development that might affect an entire market or region, a potentially global development or a significant change in one or more U.S. securities indexes. The Trust has retained an independent statistical fair value service to assist in the fair valuation process for foreign securities in order to adjust for possible changes in value resulting from subsequent events. If a security is valued at “fair value,” that value may be different from the last quoted market price.

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 SFIMC to obtain bid price quotations from brokers or dealers in the securities. 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, the last traded price 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.

In accordance with Financial Accounting Standards Board Statement of Financial Accounting Standards No. 157, “Fair Value Measurements” (“FAS 157”), fair value is defined as the price that the Funds would receive upon selling an investment in a timely transaction to an independent buyer in the principal or most advantageous market of the investment. FAS 157 establishes a three-tier hierarchy to classify fair value measurements for disclosure purposes. The three-tier hierarchy of inputs is summarized in the three broad levels listed below.

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. The following is a summary of the inputs used to value the Funds’ assets as of June 30, 2009:

Other financial instruments are derivative instruments not reflected in the Schedules of Investments, such as futures and foreign currency contracts, which are valued at the unrealized appreciation (depreciation) on the instrument.

The Small Cap Index Fund and International Index Fund did not hold any Level 3 securities valued at other than zero as of December 31, 2008 and June 30, 2009. The remaining Funds did not hold any Level 3 securities as of December 31, 2008, or June 30, 2009.

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, 2009.

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 regulated 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 December 31, 2008, the Trust’s management completed a review of tax positions taken by the Funds and determined that no tax liability was required for unrecognized tax benefits, and no additional disclosures were needed. Generally, the tax authorities can initiate examinations of tax returns within the three year period beginning on the date such returns are filed. As a result, some tax returns are still open and subject to examination.

As of June 30, 2009, the Funds’ aggregate unrealized gains and losses on securities based on cost for federal income tax purposes were as follows:

The differences between the cost of investments for Federal tax purposes and the cost of investments reflected on the Statements of Assets and Liabilities and Schedules of Investments are primarily related to the timing of recognition of gains and losses and investment income.

At December 31, 2008, the Funds’ most recent fiscal year end, 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:

The Bond Fund utilized $88,987 of capital loss carryforwards to offset realized capital gains in 2008.

As of December 31, 2008, 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, 2008 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 Passive Foreign Investment Companies (“PFICs”), and/or forward foreign currency and futures contract adjustments.

The timing and characterization of certain income and capital gain distributions are determined annually in accordance with federal income tax regulations which may differ from GAAP. These differences are primarily due to differing treatment for futures contracts, the recognition of net realized losses, the timing of fund distributions, and foreign currency transactions. As a result, net investment income and net realized gain or loss on investment transactions for a reporting period may differ from distributions during such period. Accordingly, each Fund may periodically make reclassifications among certain of its capital accounts without impacting its net asset value.

The Large Cap Equity, Small/Mid Cap Equity, International Equity, Large Cap Index, Small Cap Index, International Index, and Balanced Funds declare and pay dividend and capital gain distributions, if any, at least annually.

The Bond and Money Market Funds declare dividends daily and distribute dividends monthly on the last business day of the month. Capital gain distributions on these Funds, if any, are paid at least annually.

The tax character of distributions for certain Funds was as follows for the year ended December 31, 2008:

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, 2008.

The International Equity Fund and International Index Fund have elected to mark-to-market their investments in PFICs for federal income tax purposes. In accordance with this election, the International Equity Fund recognized unrealized appreciation (depreciation) of $(200,514) during 2008 and realized gains of $128,154 during 2008 as ordinary income for federal income tax purposes. The International Index Fund recognized unrealized appreciation (depreciation) of ($3,114,830) during 2008 and realized gains of $232,836 during 2008 as ordinary income for federal income tax purposes. The cumulative amount of mark-to-market adjustments recognized on PFICs at December 31, 2008, was $2,765 for the International Equity Fund and $1,038,280 for the International Index Fund.

From November 1, 2008 through December 31, 2008, the Large Cap Equity Fund incurred $1,901,194 in net realized losses, the Small/Mid Cap Equity Fund incurred $2,206,447 in net realized losses, the International Equity Fund incurred $952,664 in net realized losses, the Large Cap Index Fund incurred $1,354,748 in net realized losses, the Small Cap Index Fund incurred $1,377,389 in net realized losses, and the International Index Fund incurred $105,539 in PFIC losses and $2,790,118 in net realized losses. As permitted by tax regulation, those Funds intend to elect to defer these losses and treat them as arising on January 1, 2009.

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, 2009. 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.

On October 3, 2008, the Board of Trustees of the Trust approved the participation by the Trust’s Money Market Fund (the “Fund”) in the U.S. Department of Treasury’s Temporary Money Market Fund Guarantee Program (“the Program”) for the initial coverage period of September 19, 2008, through December 18, 2008. The Treasury extended the Program from December 18, 2008, through April 30, 2009, and from April 30, 2009, through September 18, 2009. The Board of Trustees of the Trust elected to participate in these Program extensions. If the U.S. Treasury decides to extend the Program beyond September 18, 2009, the Board of Trustees of the Trust will again need to consider whether the Fund should continue to participate in the Program’s extension.

Under the Program, if the Fund’s net asset value per share drops below $0.995 on any day while the Program is in effect, shareholders of record on that date who also held Fund shares on September 19, 2008, may be eligible to receive a payment from the Treasury upon liquidation of the Fund. The Program covers the lesser of the number of shares owned by the shareholder as of September 19, 2008, or the number of shares owned by the shareholder as of the date of liquidation. The Fund pays fees to participate in the Program and any Program extension; however, SFIMC’s voluntary agreement to reimburse excess expenses incurred by the Fund remains in effect.

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.

As a result of Financial Accounting Standards Board’s adoption of Statement of Financial Accounting Standards No. 165, “Subsequent Events” (SFAS 165) in May 2009, the Trust’s management has evaluated all subsequent events through August 28, 2009, which is the date that the financial statements were issued. The adoption of SFAS 165 did not impact the financial statements of the Trust.

The Funds implemented Financial Accounting Standards Board (“FASB”) Statement of Financial Accounting Standards No. 161, “Disclosures about Derivative Instruments and Hedging Activities” - an amendment of FASB Statement No. 133 (“SFAS 161”), effective January 1, 2009. SFAS 161 requires qualitative disclosures about objectives and strategies for using derivatives, quantitative disclosures about fair value amounts of and gains and losses on derivative instruments, and disclosures about credit-risk-related contingent features in derivative agreements.

The Large Cap Index, Small Cap Index, and International Index Funds, and indirectly, the Balanced Fund, are subject to equity price risk in the normal course of pursuing their investment objectives. These Funds enter into stock index futures contracts to gain exposure to market fluctuations as this may be more efficient or cost effective than actually buying the securities. These contracts obligate such Funds 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. Realized and unrealized gains and losses are reflected in the Statement of Operations. Unrealized gains and losses on open futures contracts are reflected as a component of net unrealized appreciation (depreciation) in the Statements of Assets and Liabilities, and in other assets in the Schedules of Investments. Daily fluctuation in the margin requirements for futures contracts are recorded as variation margin receivable or payable on the Statements of Assets and Liabilities. Upon entering into a futures contract, these Funds bear the risk of futures contracts’ prices moving unexpectedly, in which case, the Funds may not achieve the anticipated benefits of the futures contract and may realize a loss. With futures, there is minimal counterparty credit risk to the Fund since futures are exchange traded and the exchange’s clearinghouse, as the ultimate counterparty to all exchange traded futures, guarantees the futures against default.

The International Equity and International Index Funds are subject to foreign currency exchange risk in the normal course of pursuing their investment objectives. These Funds enter into forward foreign currency contracts to hedge against changes in foreign currencies between trade date and settlement date on security transactions. Realized and unrealized gains and losses on forward foreign currency contracts are reflected in the Statement of Operations. Unrealized gains and losses on forward foreign currency contracts are reflected as a component of net unrealized appreciation (depreciation) in the Statements of Assets and Liabilities, and in other assets in the Schedules of Investments. These Funds bear the market risk that arises from changes in foreign currency rates and the credit risk should a counterparty fail to perform under such contracts, and as a result, may realize a loss.

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.

As of June 30, 2009, the fair value of derivative instruments, which are also disclosed in Note 5 under Futures and foreign currency contracts, were as follows:

As of June 30, 2009, the effect of derivative instruments on the Statements of Operations were as follows:

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 monthly) 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. 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, acquired fund fees and expenses and custody fees in the case of the Large Cap Index Fund and the Small Cap Index Fund) 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 and acquired fund fees and expenses, that exceed 0.20% of the Fund’s average daily net assets. With respect to the Large Cap Index Fund and the Small Cap Index Fund, SFIMC has agreed to reimburse all custody fees.

Beginning in early February 2009, the daily net investment income on securities held by the Money Market Fund fell to a level below the amount of operating expenses incurred by the Money Market Fund. Since that time, SFIMC has been voluntarily waiving portions of its fees in amounts necessary to keep the daily net investment income of the Money Market Fund from falling below zero.

These expense reductions 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 Bridgeway Capital Management, Inc. (“Bridgeway”) and Westwood Management Corp. (“Westwood”) as the investment sub-advisers to provide day-to-day portfolio management for the Large Cap Equity Fund; Bridgeway and Rainier Investment Management, Inc. (“Rainier”) as the investment sub-advisers to provide day-to-day portfolio management for the Small/Mid Cap Equity Fund; Marsico Capital Management, LLC (“Marsico”) and Northern Cross, LLC (“Northern Cross”) as the investment sub-advisers to provide day-to-day portfolio management for the International Equity Fund; 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, Bridgeway, Westwood, Marsico, Northern Cross, Barclays, and Rainier determine which securities to buy and sell for each of these Funds, select the brokers and dealers to effect the transactions, and negotiate commissions. Bridgeway’s, Westwood’s, Rainier’s, Marsico’s, Northern Cross’s, and Barclays’s sub-advisory fees for managing the respective portfolios are paid by SFIMC. No additional advisory fees are charged to the Funds for the services of the sub-advisers.

For the six months ended June 30, 2009 the following fees were earned by Barclays, Bridgeway, Rainier, Westwood, Marisco, and Northern Cross 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.

As of June 30, 2009, the International Equity Fund had the following open forward foreign currency contracts. See Note 2 under Financial instruments.

The International Index Fund had the following open forward foreign currency contracts at June 30, 2009:

The Large Cap Index, Small Cap Index and International Index Funds had the following open futures contracts at June 30, 2009:

The financial highlights table is intended to help you understand the financial performance of each Fund for the past five years, or if performance information is not available for these periods, since the Fund’s inception. 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).

(a) The information 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.

(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.

(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.

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.


Three State Farm Plaza Bloomington, IL		61791-0001
(Address of principal executive offices)		(Zip code)


Michael L. Tipsord		Alan Goldberg
One State Farm Plaza		K&L Gates LLP
Bloomington, Illinois 61710-0001		Three First National Plaza
		70 West Madison St., Suite 3100
		Chicago, Illinois 60602


	Beginning Account Value January 1, 2009	Ending Account Value June 30, 2009	Annualized Expense Ratio Based on the Period January 1, 2009 to June 30, 2009	Expenses Paid During Period January 1, 2009 to June 30, 2009²
Large Cap Equity Fund
Actual	1,000.00	1,023.26	0.70%	3.51
Hypothetical (5% return before expenses)	1,000.00	1,021.32	0.70%	3.51
Small/Mid Cap Equity Fund
Actual	1,000.00	1,051.67	0.90%	4.58
Hypothetical (5% return before expenses)	1,000.00	1,020.33	0.90%	4.51
International Equity Fund
Actual	1,000.00	1,108.40	1.00%	5.23
Hypothetical (5% return before expenses)	1,000.00	1,019.84	1.00%	5.01
Large Cap Equity Index Fund
Actual	1,000.00	1,029.87	0.34%	1.71
Hypothetical (5% return before expenses)	1,000.00	1,023.11	0.34%	1.71
Small Cap Equity Index Fund
Actual	1,000.00	1,023.22	0.50%	2.51
Hypothetical (5% return before expenses)	1,000.00	1,022.32	0.50%	2.51
International Equity Index Fund
Actual	1,000.00	1,055.62	0.75%	3.82
Hypothetical (5% return before expenses)	1,000.00	1,021.08	0.75%	3.76


	Beginning Account Value January 1, 2009	Ending Account Value June 30, 2009	Annualized Expense Ratio Based on the Period January 1, 2009 to June 30, 2009	Expenses Paid During Period January 1, 2009 to June 30, 2009²
Stock and Bond Balanced Fund³
Actual	1,000.00	1,050.21	0.44%	2.24
Hypothetical (5% return before expenses)	1,000.00	1,022.61	0.44%	2.21
Bond Fund
Actual	1,000.00	1,073.19	0.58%	2.98
Hypothetical (5% return before expenses)	1,000.00	1,021.92	0.58%	2.91
Money Market Fund
Actual	1,000.00	1,000.31	0.37%	1.84
Hypothetical (5% return before expenses)	1,000.00	1,022.96	0.37%	1.86


	Shares	Value
Short-term Investments (5.34%)
JPMorgan U.S. Government Money Market Fund	1,405,653	$	1,405,653

Total Short-term Investments
(cost $1,405,653)			1,405,653

TOTAL INVESTMENTS (103.79%)
(cost $30,446,600)			27,305,566
LIABILITIES, NET OF OTHER ASSETS (-3.79%)			(998,164	)

NET ASSETS (100.00%)		$	26,307,402


Fund		Sub-Adviser(s)
Large Cap Equity Fund		Westwood and Bridgeway
Small/Mid Cap Equity Fund		Bridgeway and Rainier
International Equity Fund		Marsico and Northern Cross
Large Cap Equity Index Fund		Barclays
Small Cap Equity Index Fund		Barclays
International Equity Index Fund		Barclays


	Large Cap			Small/Mid Cap		International
	Equity			Equity		Equity
	Fund			Fund		Fund
Assets
Investments in securities at identified cost	$	30,446,600		27,364,474		33,204,662

Investments in securities at market value	$	27,305,566		26,307,171		28,105,588
Cash		—		—		—
Foreign currencies at value (cost $30,007 and $2,551,454, respectively)		—		—		29,955
Receivable for:
Dividends and interest		25,186		21,044		130,279
Shares of the Fund sold		13,420		10,902		7,119
Securities sold		29,211		323,758		27,418
SFIMC		1,820		2,589		16,883
Unrealized gain on forward foreign currency contracts		—		—		65
Prepaid expenses		3,995		2,631		3,359

Total assets		27,379,198		26,668,095		28,320,666

Liabilities and Net Assets
Payable for:
Shares of the Fund redeemed		312		5		394
Securities purchased		1,038,428		802,622		163,287
Variation margin		—		—		—
Unrealized loss on forward foreign currency contracts		—		—		233
Due to affiliates		15,229		19,648		70,909
Accrued liabilities		17,827		24,599		67,846

Total liabilities		1,071,796		846,874		302,669

Net assets applicable to shares outstanding of common stock	$	26,307,402		25,821,221		28,017,997

Fund shares outstanding (no par value, unlimited number of shares authorized)		4,596,809		4,090,658		3,857,835
Net asset value, offering price and redemption price per share	$	5.72		6.31		7.26

Analysis of Net Assets
Paid-in-capital	$	46,146,075		41,399,304		41,660,906
Accumulated net realized gain (loss)		(17,109,952	)	(14,602,018	)	(9,512,941	)
Net unrealized appreciation (depreciation)		(3,141,034	)	(1,057,303	)	(5,097,151	)
Undistributed (distributions in excess of) net investment income		412,313		81,238		967,183

Net assets applicable to shares outstanding	$	26,307,402		25,821,221		28,017,997


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

502,679,000	231,817,516		261,466,416		81,568,405		161,115,721		48,484,674

373,031,327	172,727,005		226,261,581		68,363,600		164,414,587		48,484,674
969	32		—		170,368		—		—
—	—		2,597,511		—		—		—

508,061	180,486		1,303,221		—		2,103,846		190
203,875	108,949		93,155		15,934		29,240		7,173
303,431	22,580,868		125,757		—		—		—
4,295	7,094		—		26,491		—		11,553
—	—		93		—		—		—
28,854	30,758		21,776		6,010		15,975		10,188

374,080,812	195,635,192		230,403,094		68,582,403		166,563,648		48,513,778


21,894	13,819		10,959		—		5,321		59,732
641,794	22,668,314		609,470		—		—		—
27,043	3,329		44,114		—		—		—
—	—		313		—		—		—
116,160	78,026		203,377		5,636		85,500		21,990
131,003	128,102		277,741		26,866		60,855		32,093

937,894	22,891,590		1,145,974		32,502		151,676		113,815

373,142,918	172,743,602		229,257,120		68,549,901		166,411,972		48,399,963

40,065,301	24,514,053		23,228,307		6,686,547		16,353,165		48,401,065
9.31	7.05		9.87		10.25		10.18		1.00


504,218,258	243,222,408		267,030,405		78,440,949		164,437,214		48,401,065
(5,381,488)	(12,271,797	)	(5,792,950	)	(7,155	)	(1,324,108	)	(1,102	)
(129,786,729)	(59,143,457	)	(35,158,251	)	(13,204,805	)	3,298,866		—
4,092,877	936,448		3,177,916		3,320,912		—		—

373,142,918	172,743,602		229,257,120		68,549,901		166,411,972		48,399,963


	Large Cap Equity Fund			Small/Mid Cap Equity Fund		International Equity Fund
Investment Income:
Dividends	$	251,180		156,017		440,848
Interest		874		1,214		335

		252,054		157,231		441,183
Less: foreign withholding taxes		(230	)	(26	)	(42,535	)

Total investment income		251,824		157,205		398,648
Expenses:
Investment advisory and management fees		72,388		92,945		97,267
Professional fees		13,390		16,513		16,640
Reports to shareholders		5,257		2,932		4,405
Custodian fees		1,743		6,410		88,920
Errors and omissions insurance		1,155		1,126		1,262
Securities valuation fees		1,019		1,420		10,342
Trustees’ fees and expenses		702		663		713
Regulatory fees		380		380		380
ICI dues		226		210		159
Fidelity bond expense		95		94		106
Money Market Guarantee Program Fee		—		—		—
License index fees		—		—		—

Total expenses		96,355		122,693		220,194
Less: expense reimbursement from SFIMC (a)		(11,902	)	(18,130	)	(98,610	)

Net expenses		84,453		104,563		121,584

Net investment income		167,371		52,642		277,064
Realized and unrealized gain (loss):
Net realized gain (loss) on sales of investments		(4,320,849	)	(7,296,007	)	(3,446,767	)
Net realized gain (loss) on forward foreign currency contracts		—		—		(3,948	)
Net realized gain (loss) on foreign currency transactions		—		—		889
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		4,782,207		8,550,115		5,930,709

Net realized and unrealized gain (loss) on investments		461,358		1,254,108		2,480,883

Net change in net assets resulting from operations	$	628,729		1,306,750		2,757,947


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

4,548,648		1,085,965		5,230,915		632,346		—		—
1,247		561		1,946		—		4,315,624		106,533

4,549,895		1,086,526		5,232,861		632,346		4,315,624		106,533
—		(507	)	(509,787	)	—		—		—

4,549,895		1,086,019		4,723,074		632,346		4,315,624		106,533

445,597		312,327		554,373		—		405,810		98,284
30,637		26,923		37,571		9,481		18,453		11,776
46,178		52,516		33,582		12,557		20,645		10,619
8,330		5,623		123,750		6		1,612		926
16,714		7,431		10,215		2,911		7,030		2,016
3,201		11,340		47,894		—		11,017		—
9,518		4,352		5,819		1,796		4,525		2,642
880		380		780		380		380		178
3,283		1,515		1,434		—		952		282
1,115		619		858		246		574		167
—		—		—		—		—		10,256
21,660		4,960		5,020		—		—		—

587,113		427,986		821,296		27,377		470,998		137,146
(8,330	)	(37,575	)	(65,328	)	(27,377	)	—		(46,128	)

578,783		390,411		755,968		—		470,998		91,018


3,971,112		695,608		3,967,106		632,346		3,844,626		15,515

(3,425,219	)	(10,514,342	)	(3,258,829	)	3,107		(790,825	)	—
—		—		67,608		—		—		—
—		—		30,913		—		—		—
(49,626	)	6,635		285,087		—		—		—
(129,928	)	(447,062	)	(71,456	)	—		—		—

10,266,564		13,830,658		10,886,164		2,463,553		8,548,817		—

6,661,791		2,875,889		7,939,487		2,466,660		7,757,992		—

10,632,903		3,571,497		11,906,593		3,099,006		11,602,618		15,515


	Large Cap Equity Fund
Six months ended June 30, 2009 (unaudited) and the year ended December 31, 2008	2009			2008
From operations:
Net investment income	$	167,371		780,479
Net realized gain (loss)		(4,320,849	)	(12,742,004	)
Change in net unrealized appreciation or depreciation		4,782,207		(5,305,625	)

Net change in net assets resulting from operations		628,729		(17,267,150	)
Distributions to shareholders from:
Net investment income		—		(553,071	)
Net realized gain		—		(263,669	)

Total distributions to shareholders		—		(816,740	)
From Fund share transactions:
Proceeds from shares sold		994,480		3,632,136
Reinvestment of distributions		—		816,740

		994,480		4,448,876
Less payments for shares redeemed		(418,015	)	(1,422,233	)

Net increase (decrease) in net assets from Fund share transactions		576,465		3,026,643

Total increase (decrease) in net assets		1,205,194		(15,057,247	)

Net assets:
Beginning of year		25,102,208		40,159,455

End of year*	$	26,307,402		25,102,208

* Including undistributed (distribution in excess of) net investment income	$	412,313		244,507

Share Information
Sold		188,074		443,914
Issued in reinvestment of distributions		—		148,769
Redeemed		(80,547	)	(194,305	)

Net increase (decrease)		107,527		398,378


	International Equity Index Fund
Six months ended June 30, 2009 (unaudited) and the year ended December 31, 2008	2009			2008
From operations:
Net investment income	$	3,967,106		9,283,739
Net realized gain (loss)		(2,875,221	)	489,295
Change in net unrealized appreciation or depreciation		10,814,708		(172,810,079	)

Net change in net assets resulting from operations		11,906,593		(163,037,045	)
Distributions to shareholders from:
Net investment income		—		(5,460,363	)
Net realized gain		—		(6,446,962	)

Total distributions to shareholders		—		(11,907,325	)
From Fund share transactions:
Proceeds from shares sold		2,612,997		5,991,300
Reinvestment of distributions		—		11,907,325

		2,612,997		17,898,625
Less payments for shares redeemed		(5,407,076	)	(17,286,516	)

Net increase (decrease) in net assets from Fund share transactions		(2,794,079	)	612,109

Total increase (decrease) in net assets		9,112,514		(174,332,261	)

Net assets:
Beginning of year		220,144,606		394,476,867

End of year*	$	229,257,120		220,144,606

* Including undistributed (distribution in excess of) net investment income	$	3,177,916		(789,190	)

Share Information
Sold		312,362		470,632
Issued in reinvestment of distributions		—		1,309,937
Redeemed		(635,291	)	(1,289,479	)

Net increase (decrease)		(322,929	)	491,090


	Investments in Securities								Other Financial Instruments
Fund	Level 1		Level 2		Level 3		Total		Level 1			Level 2			Level 3		Total
Large Cap Equity Fund									$	—		$	—		$	—	$	—
Common Stocks	$	25,899,913	$	—	$	—	$	25,899,913
Short-term Investments		1,405,653		—		—		1,405,653
Small/Mid Cap Equity Fund										—			—			—		—
Common Stocks		25,535,154		—		—		25,535,154
Short-term Investments		772,017		—		—		772,017
International Equity Fund										—			(168	)		—		(168	)
Common Stocks		—		25,280,037		—		25,280,037
Preferred Stocks		—		1,223,560		—		1,223,560
Repurchase Agreement		—		1,601,991		—		1,601,991
Large Cap Index Fund										(139,055	)		—			—		(139,055	)
Common Stocks		368,704,643		—		—		368,704,643
Short-term Investments		—		4,326,684		—		4,326,684
Small Cap Index Fund										(52,947	)		—			—		(52,947	)
Common Stocks		170,854,085		57		0		170,854,142
Short-term Investments		—		1,872,863		—		1,872,863
International Index Fund										(44,114	)		(220	)		—		(44,334	)
Common Stocks		—		225,434,354		0		225,434,354
Preferred Stocks		—		738,119		—		738,119
Repurchase Agreement		—		89,108		—		89,108
Balanced Fund										—			—			—		—
Registered Investment Companies		68,363,600		—		—		68,363,600
Bond Fund										—			—			—		—
Corporate Bonds		—		145,564,401		—		145,564,401
Government Agency Securities		—		6,712,636		—		6,712,636
U.S. Treasury Obligations		—		1,599,024		—		1,599,024
Short-term Investments		7,538,826		2,999,700		—		10,538,526
Money Market Fund										—			—			—		—
Short-term Investments		746,433		47,738,241		—		48,484,674


Fund	Cost of Investments for Federal Tax Purposes		Gross Unrealized Appreciation		Gross Unrealized (Depreciation)			Net Unrealized Appreciation (Depreciation)
Large Cap Equity Fund	$	30,555,905	$	656,969	$	(3,907,308	)	$	(3,250,339	)
Small/Mid Cap Equity Fund		27,500,059		2,258,897		(3,451,785	)		(1,192,888	)
International Equity Fund		33,370,452		953,644		(6,218,508	)		(5,264,864	)
Large Cap Index Fund		503,135,988		50,757,154		(180,861,815	)		(130,104,661	)
Small Cap Index Fund		231,912,736		17,541,415		(76,727,146	)		(59,185,731	)
International Index Fund		262,637,413		38,661,454		(75,037,286	)		(36,375,832	)
Balanced Fund		81,598,051		—		(13,234,451	)		(13,234,451	)
Bond Fund		161,115,721		5,483,204		(2,184,338	)		3,298,866
Money Market Fund		48,484,674		—		—			—


Expiration year	Large Cap Equity Fund		Small/Mid Cap Equity Fund		International Equity Fund		Large Cap Index Fund		Bond Fund		Money Market Fund
2011	$	—	$	—	$	—	$	—	$	205,753	$	—
2013		—		—		—		—		166,544		1,102
2015		—		—		—		—		160,986		—
2016		10,732,785		4,949,683		4,914,418		61,975		—		—

Total:	$	10,732,785	$	4,949,683	$	4,914,418	$	61,975	$	533,283	$	1,102


Fund	Undistributed Ordinary Income		Undistributed Long-term Gain		Unrealized Appreciation (Depreciation)			Accumulated Capital and Other Losses			Total
Large Cap Equity Fund	$	244,507	$	—	$	(8,077,930	)	$	(12,633,979	)	$	(20,467,402	)
Small/Mid Cap Equity Fund		26,185		—		(9,754,888	)		(7,156,130	)		(16,884,833	)
International Equity Fund		692,564		—		(11,226,338	)		(5,867,082	)		(16,400,856	)
Large Cap Index Fund		86,674		—		(140,378,194	)		(1,416,723	)		(141,708,243	)
Small Cap Index Fund		29,198		134,357		(72,836,469	)		(1,377,389	)		(74,050,303	)
International Index Fund		352,512		—		(47,136,733	)		(2,895,657	)		(49,679,878	)
Balanced Fund		2,688,566		21,504		(15,700,124	)		—			(12,990,054	)
Bond Fund		—		—		(5,249,951	)		(533,283	)		(5,783,234	)
Money Market Fund		—		—		—			(1,102	)		(1,102	)


Fund	Paid in Capital		Accumulated Net Realized Gain (Loss)			Net Unrealized Gain (Loss)	Undistributed (Accumulated) Net Investment Income (Loss)
Large Cap Equity Fund	$	—	$	2,304		—	$	(2,304	)
Small/Mid Cap Equity Fund		—		6,589		—		(6,589	)
International Equity Fund		—		(258,649	)	—		258,649
Large Cap Index Fund		—		202,440		—		(202,440	)
Small Cap Index Fund		—		257,785		—		(257,785	)
International Index Fund		—		(254,184	)	—		254,184


2008	Ordinary Income		Long-term Capital Gain		Total
Large Cap Equity Fund	$	561,345	$	255,395	$	816,740
Small/Mid Cap Equity Fund		596,259		225		596,484
International Equity Fund		116,319		788,447		904,766
Small Cap Index Fund		2,148,675		13,577,320		15,725,995
International Index Fund		5,541,887		6,365,438		11,907,325


		Asset Derivatives			Liability Derivatives
Fund	Derivatives not accounted for as hedging instruments under SFAS 133	Statements of Assets and Liabilities Location	Fair Value		Statements of Assets and Liabilities Location	Fair Value
International Equity Fund	Forward Foreign Currency Contracts	Unrealized gain on forward foreign currency contracts	$	65	Unrealized loss on forward foreign currency contracts	$	233

Total			$	65		$	233

Large Cap Index Fund	Stock Index Futures Contracts	Variation Margin; Analysis of Net Assets - Net Unrealized Appreciation	$	—	Variation Margin; Analysis of Net Assets - Net Unrealized Depreciation	$	139,055	(a)

Total			$	—		$	139,055

Small Cap Index Fund	Stock Index Futures Contracts	Variation Margin; Analysis of Net Assets - Net Unrealized Appreciation	$	—	Variation Margin; Analysis of Net Assets - Net Unrealized Depreciation	$	52,947	(a)

Total			$	—		$	52,947

International Index Fund	Forward Foreign Currency Contracts	Unrealized gain on forward foreign currency contracts	$	93	Unrealized loss on forward foreign currency contracts	$	313

International Index Fund	Stock Index Futures Contracts	Variation Margin; Analysis of Net Assets - Net Unrealized Appreciation		—	Variation Margin; Analysis of Net Assets - Net Unrealized Depreciation		44,114

Total			$	93		$	44,427


		Amount of Realized Gain (Loss) on Derivatives Recognized in Income						Change in Unrealized Appreciation (Depreciation) on Derivatives Recognized in Income
Fund	Derivatives not accounted for as hedging instruments under SFAS 133	Futures			Forward Currency Contracts			Futures			Forward Currency Contracts
International Equity Fund	Forward Foreign Currency Contracts	$	—		$	(3,948	)	$	—		$	363
Large Cap Index Fund	Stock Index Futures Contracts		(49,626	)		—			(129,928	)		—
Small Cap Index Fund	Stock Index Futures Contracts		6,635			—			(447,062	)		—
International Index Fund	Forward Foreign Currency Contracts		—			67,608			—			1,897
International Index Fund	Stock Index Futures Contracts		285,087			—			(71,456	)		—


Large Cap Equity Fund		0.60% of average daily net assets
Small/Mid 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


	Barclays		Bridgeway		Rainier		Westwood		Marsico		Northern Cross
Large Cap Equity Fund	$	—	$	28,464	$	—	$	24,328	$	—	$	—
Small/Mid Cap Equity Fund		—		35,310		34,638		—		—		—
International Equity Fund		—		—		—		—		30,732		36,108
Large Cap Index Fund		85,893		—		—		—		—		—
Small Cap Index Fund		78,306		—		—		—		—		—
International Index Fund		100,822		—		—		—		—		—

Total Sub-Advisory Fees	$	265,021	$	63,774	$	34,638	$	24,328	$	30,732	$	36,108


	Six months ended June 30, 2009 (Unaudited)
	Purchases		Sales
Large Cap Equity Fund	$	9,588,525	$	8,986,625
Small/Mid Cap Equity Fund		17,518,999		16,980,726
International Equity Fund		7,556,837		6,837,987
Large Cap Index Fund		7,705,311		5,794,943
Small Cap Index Fund		28,849,382		25,067,453
International Index Fund		6,988,387		6,448,377
Balanced Fund		632,346		2,850,000
Bond Fund		—		17,569,909


Foreign amount Purchase (Sold)		Currency	Contracts	Settlement Date	U.S. Dollar Purchase (Sold)		Unrealized Gain		Unrealized (Loss)
23,955		Euro	1	07/01/2009	33,605		$	—	$	(158	)
185,297		Hong Kong	1	07/02/2009	23,909			—		—
(88,227	)	Hong Kong	2	07/02/2009	(11,384	)		—		—
(1,111,292	)	Japanese Yen	2	07/01/2009	(11,536	)		—		(20	)
(5,618	)	Norwegian Krone	2	07/02/2009-07/06/2009	(874	)		1		—
41,767		Singapore Dollar	2	07/02/2009	28,836			63		(12	)
16,540		Swiss Franc	2	07/01/2009-07/02/2009	15,223			—		(43	)
(9,025	)	Swiss Franc	1	07/01/2009	(8,307	)		1		—

					Total		$	65	$	(233	)


Fund	Type	Number of contracts	Notional Value		Market Value		Position	Expiration Month	Unrealized Gain (Loss)
Large Cap Index Fund	S&P 500 Index Mini	91	$	4,304,580	$	4,165,525	Long	September ‘09	$	(139,055	)


Small Cap Index Fund	Russell 2000 Index Mini	34		1,777,427		1,724,480	Long	September ‘09	$	(52,947	)


International Index Fund	TOPIX Index	10		950,728		958,180	Long	September ‘09		7,452
International Index Fund	DJ Euro Stoxx 50	39		1,346,011		1,311,786	Long	September ‘09		(34,225	)
International Index Fund	FTSE 100 Index	10		711,982		694,641	Long	September ‘09		(17,341	)

Total									$	(44,114	)


	Six months ended June 30, 2009 (Unaudited)									From commencement of investment operations July 26, 2005 to December 31, 2005
				Year ended December 31,
				2008		2007		2006
Net asset value, beginning of period	$	5.59		9.82		11.43		10.33		10.00
Income from Investment Operations
Net investment income (a)		0.04		0.18		0.26		0.20		0.07
Net gain (loss) on investments (both realized and unrealized)		0.09		(4.22	)	(1.00	)	1.45		0.34

Total from investment operations		0.13		(4.04	)	(0.74	)	1.65		0.41

Less Distributions
Net investment income		—		(0.13	)	(0.24	)	(0.18	)	(0.07	)
Net realized gain		—		(0.06	)	(0.63	)	(0.37	)	(0.01	)

Total distributions		—		(0.19	)	(0.87	)	(0.55	)	(0.08	)

Net asset value, end of period	$	5.72		5.59		9.82		11.43		10.33

Total Return (b)		2.33	%	(41.12	)%	(6.55	)%	15.91	%	4.14	%
Net assets, end of period (millions)	$	26.3		25.1		40.2		36.6		26.9
Ratios to average net assets assuming expense reductions
Expenses		0.70	%(c)	0.70	%	0.70	%	0.70	%	0.70	%(c)
Net investment income		1.39	%(c)	2.30	%	2.24	%	1.83	%	1.71	%(c)
Ratios to average net assets absent expense reductions
Expenses		0.80	%(c)	0.74	%	0.70	%	0.71	%	0.85	%(c)
Net investment income		1.29	%(c)	2.26	%	2.24	%	1.82	%	1.56	%(c)
Portfolio turnover rate		75	%(c)	144	%	40	%	34	%	15	%


State Farm Variable Product Trust

By		/s/ EDWARD B. RUST, JR.
		Edward B. Rust, Jr.
		President

Date 8/28/2009