N-Q 1 w79731nvq.htm FORM N-Q nvq
 
 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-Q
QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY
Investment Company Act file number: 811-08495
Nationwide Mutual Funds
(Exact name of registrant as specified in charter)
1000 Continental Drive, Suite 400, King of Prussia, Pennsylvania 19406
(Address of principal executive offices) (Zip code)
Eric E. Miller, Esq.
1000 Continental Drive, Suite 400
King of Prussia, Pennsylvania 19406
(Name and Address of Agent for Service)
Registrant’s telephone number, including area code: (610) 230-2800
Date of fiscal year end: October 31, 2010
Date of reporting period: July 31, 2010
Form N-Q is to be used by management investment companies, other than small business investment companies registered on Form N-5 (§§ 239.24 and 274.5 of this chapter), to file reports with the Commission, not later than 60 days after the close of the first and third fiscal quarters, pursuant to Rule 30b1-5 under the Investment Company Act of 1940 (17 CFR § 270.30b1-5). The Commission may use the information provided on Form N-Q in its regulatory, disclosure review, inspection, and policymaking roles.
A registrant is required to disclose the information specified by Form N-Q, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-Q unless the Form displays a currently valid Office of Management and Budget (“OMB”) control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to the Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.
 
 

 

 

TABLE OF CONTENTS

Item 1. Schedule of Investments
Item 2. Controls and Procedures
Item 3. Exhibits
SIGNATURES
Item 1. Schedule of Investments.
File the schedules as of the close of the reporting period as set forth in §§ 210.12-12 — 12-14 of Regulation S-X [17 CFR §§ 210.12-12 — 12-14]. The schedules need not be audited.
Statement of Investments
July 31, 2010 (Unaudited)
Nationwide International Value Fund
Common Stocks 98.9%
                 
            Market  
    Shares     Value  
 
AUSTRALIA 5.3%
                
Airlines 0.5%
                
Qantas Airways Ltd.*
     252,736     $ 566,429  
 
              
Capital Markets 0.4%
                
Macquarie Group Ltd.
     13,400       452,385  
 
              
Chemicals 0.7%
                
Incitec Pivot Ltd.
     288,000       849,353  
 
              
Commercial Banks 2.7%
                
Australia & New Zealand Banking Group Ltd.(a)
     55,300       1,157,086  
National Australia Bank Ltd.
     92,400       2,107,702  
 
              
 
             3,264,788  
 
              
Metals & Mining 0.7%
                
BHP Billiton Ltd.
     23,000       834,907  
 
              
Real Estate Management & Development 0.3%
Lend Lease Group(a)
     49,400       325,963  
 
              
 
             6,293,825  
 
              
AUSTRIA 0.6%
                
Oil, Gas & Consumable Fuels 0.6%
                
OMV AG
     21,700       725,562  
 
              
BELGIUM 0.5%
                
Commercial Banks 0.5%
                
KBC Groep NV*
     14,100       620,606  
 
              
BRAZIL 0.3%
                
Metals & Mining 0.3%
                
Vale SA ADR(a)
     15,000       363,450  
 
              
CANADA 4.6%
                
Aerospace & Defense 0.4%
                
Bombardier, Inc., Class B
     111,200       504,053  
 
              
Commercial Banks 0.6%
                
National Bank of Canada
     13,300       763,160  
 
              
Insurance 0.6%
                
Industrial Alliance Insurance & Financial Services, Inc.
     22,000       698,274  
 
              
Oil, Gas & Consumable Fuels 3.0%
                
Encana Corp.
     13,900       424,957  
Nexen, Inc.
     58,460       1,214,066  
Penn West Energy Trust
     22,600       438,348  
Suncor Energy, Inc.
     43,008       1,417,773  
 
              
 
             3,495,144  
 
              
 
             5,460,631  
 
              
CHINA 0.5%
                
Oil, Gas & Consumable Fuels 0.5%
                
China Petroleum & Chemical Corp., H Shares(a)
     480,000       387,357  
Yanzhou Coal Mining Co. Ltd., H Shares
     108,000       232,972  
 
              
 
             620,329  
 
              
DENMARK 1.6%
                
Beverages 0.8%
                
Carlsberg AS, Class B
     11,550       1,022,453  
 
              
Commercial Banks 0.8%
                
Danske Bank AS*
     39,100       918,242  
 
              
 
             1,940,695  
 
              
FINLAND 0.3%
                
Machinery 0.3%
                
Cargotec Oyj, Class B
     10,900       391,241  
 
              
FRANCE 12.7%
                
Building Products 0.0%†
                
Cie de Saint-Gobain
     101       4,299  
 
              
Chemicals 0.5%
                
Arkema SA
     12,300       536,627  
 
              
Commercial Banks 3.1%
                
BNP Paribas
     32,423       2,216,358  
Societe Generale
     24,397       1,401,151  
 
              
 
             3,617,509  
 
              
Construction & Engineering 1.2%
                
Bouygues SA(a)
     33,300       1,405,411  
 
              
Diversified Telecommunication Services 1.1%
France Telecom SA
     63,600       1,330,233  
 
              
Electric Utilities 0.8%
                
Electricite de France (EDF)
     22,900       973,033  
 
              
Energy Equipment & Services 0.4%
                
Cie Generale de Geophysique-Veritas*(a)
     22,100       426,596  
 
              
Food & Staples Retailing 0.7%
                
Casino Guichard Perrachon SA(a)
     9,900       862,612  
 
              
Information Technology Services 0.5%
                
Cap Gemini SA
     12,000       570,449  
 
              
Machinery 0.2%
                
Vallourec SA
     3,068       298,381  
 
              
Media 2.3%
                
Lagardere SCA
     32,700       1,203,943  
 
              
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

1

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide International Value Fund
Common Stocks (continued)
                 
            Market  
    Shares     Value  
 
FRANCE (continued)
                
Media (continued)
                
Vivendi SA
     62,990     $ 1,510,825  
 
              
 
             2,714,768  
 
              
Multiline Retail 0.4%
                
PPR
     3,500       468,546  
 
              
Pharmaceuticals 1.5%
                
Sanofi-Aventis SA
     29,950       1,741,067  
 
              
 
             14,949,531  
 
              
GERMANY 10.1%
                
Automobiles 1.3%
                
Bayerische Motoren Werke AG
     29,100       1,566,330  
 
              
Capital Markets 1.2%
                
Deutsche Bank AG REG(a)
     19,405       1,354,977  
 
              
Electric Utilities 1.5%
                
E.ON AG
     57,960       1,733,591  
 
              
Health Care Providers & Services 0.2%
Celesio AG
     11,900       278,129  
 
              
Insurance 3.3%
                
Allianz SE REG
     23,170       2,690,726  
Muenchener Rueckversicherungs AG REG
     8,760       1,215,570  
 
              
 
             3,906,296  
 
              
Metals & Mining 1.0%
                
ThyssenKrupp AG
     40,800       1,215,318  
 
              
Multi-Utilities 0.2%
                
RWE AG
     4,030       284,633  
 
              
Pharmaceuticals 1.4%
                
Bayer AG
     27,700       1,594,494  
 
              
 
             11,933,768  
 
              
HONG KONG 2.7%
                
Diversified Financial Services 0.0%†
                
Guoco Group, Ltd.
     2,000       19,713  
 
              
Real Estate Management & Development 0.9%
Great Eagle Holdings Ltd.
     57,000       148,497  
New World Development Ltd.
     460,223       824,108  
 
              
 
             972,605  
 
              
Specialty Retail 0.9%
                
Esprit Holdings Ltd.
     172,000       1,080,931  
 
              
Textiles, Apparel & Luxury Goods 0.9%
Yue Yuen Industrial Holdings Ltd.(a)
     322,000       1,047,562  
 
              
 
             3,120,811  
 
              
ITALY 4.8%
                
Commercial Banks 1.8%
                
UniCredit SpA
     769,795       2,152,919  
 
              
Diversified Telecommunication Services 1.5%
Telecom Italia SpA
     817,800       1,040,849  
Telecom Italia SpA — RSP
     640,300       665,486  
 
              
 
             1,706,335  
 
              
Oil, Gas & Consumable Fuels 1.5%
                
ENI SpA
     85,700       1,751,261  
 
              
 
             5,610,515  
 
              
JAPAN 22.7%
                
Automobiles 1.2%
                
Nissan Motor Co., Ltd.*
     187,700       1,437,092  
 
              
Beverages 0.7%
                
Asahi Breweries Ltd.
     47,600       842,561  
 
              
Chemicals 0.2%
                
DIC Corp.
     174,000       286,074  
 
              
Commercial Banks 1.2%
                
Sumitomo Mitsui Financial Group, Inc.
     45,100       1,389,947  
 
              
Computers & Peripherals 1.2%
                
Toshiba Corp.*
     269,000       1,407,229  
 
              
Consumer Finance 1.1%
                
ORIX Corp.
     16,720       1,312,784  
 
              
Diversified Telecommunication Services 1.4%
Nippon Telegraph & Telephone Corp.
     38,800       1,613,764  
 
              
Electric Utilities 1.3%
                
Tokyo Electric Power Co., Inc. (The)
     54,600       1,497,514  
 
              
Food & Staples Retailing 0.9%
                
AEON Co., Ltd.
     95,000       1,016,830  
 
              
Gas Utilities 0.5%
                
Tokyo Gas Co., Ltd.
     122,000       553,227  
 
              
Household Durables 2.1%
                
Sharp Corp.
     102,000       1,116,668  
Sony Corp.
     43,000       1,345,275  
 
              
 
             2,461,943  
 
              
Leisure Equipment & Products 0.2%
                
Namco Bandai Holdings, Inc.
     20,100       179,735  
 
              
Metals & Mining 1.5%
                
Dowa Holdings Co. Ltd.
     55,000       288,882  
JFE Holdings, Inc.
     31,100       961,833  
Mitsubishi Materials Corp.*
     200,000       531,987  
 
              
 
             1,782,702  
 
              
Office Electronics 0.6%
                
Konica Minolta Holdings, Inc.
     73,000       764,676  
 
              
Pharmaceuticals 0.5%
                
Mitsubishi Tanabe Pharma Corp.
     42,000       614,271  
 
              
Real Estate Management & Development 1.8%
Mitsui Fudosan Co., Ltd.
     88,000       1,302,223  
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

2

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide International Value Fund
Common Stocks (continued)
                 
            Market  
    Shares     Value  
 
JAPAN (continued)
                
Real Estate Management & Development (continued)
Sumitomo Realty & Development Co., Ltd.
     44,000     $ 791,064  
 
              
 
             2,093,287  
 
              
Road & Rail 1.0%
                
East Japan Railway Co.
     8,500       546,284  
Nippon Express Co. Ltd.
     151,000       612,266  
 
              
 
             1,158,550  
 
              
Software 0.2%
                
Konami Corp.
     18,100       278,806  
 
              
Tobacco 1.2%
                
Japan Tobacco, Inc.
     442       1,422,517  
 
              
Trading Companies & Distributors 3.1%
ITOCHU Corp.
     146,000       1,136,308  
Mitsubishi Corp.
     67,400       1,454,644  
Mitsui & Co., Ltd.
     85,700       1,099,510  
 
              
 
             3,690,462  
 
              
Wireless Telecommunication Services 0.8%
KDDI Corp.
     192       936,026  
 
              
 
             26,739,997  
 
              
NETHERLANDS 4.0%
                
Food & Staples Retailing 0.3%
                
Koninklijke Ahold NV
     30,800       395,504  
 
              
Oil, Gas & Consumable Fuels 2.9%
                
Royal Dutch Shell PLC, Class A
     124,300       3,427,271  
 
              
Professional Services 0.8%
                
Randstad Holding NV*
     20,700       929,553  
 
              
 
             4,752,328  
 
              
NORWAY 0.3%
                
Energy Equipment & Services 0.3%
                
Petroleum Geo-Services ASA*
     44,900       401,836  
 
              
RUSSIA 0.9%
                
Oil, Gas & Consumable Fuels 0.9%
                
Gazprom OAO ADR(a)
     16,300       352,080  
LUKOIL Holdings ADR(a)
     12,010       685,771  
 
              
 
             1,037,851  
 
              
SOUTH AFRICA 0.4%
                
Industrial Conglomerates 0.4%
                
Bidvest Group Ltd.
     26,556       481,965  
 
              
SOUTH KOREA 2.0%
                
Commercial Banks 1.1%
                
Hana Financial Group, Inc.
     9,800       291,450  
KB Financial Group, Inc. ADR
     22,523       963,534  
 
              
 
             1,254,984  
 
              
Semiconductors & Semiconductor Equipment 0.9%
Samsung Electronics Co. Ltd. GDR(b)
     3,050       1,044,101  
 
              
 
             2,299,085  
 
              
SPAIN 1.4%
                
Diversified Telecommunication Services 1.4%
Telefonica SA
     71,600       1,621,407  
 
              
SWITZERLAND 3.3%
                
Metals & Mining 1.6%
                
Xstrata PLC
     116,810       1,858,123  
 
              
Pharmaceuticals 1.7%
                
Novartis AG REG
     40,600       1,973,695  
 
              
 
             3,831,818  
 
              
TAIWAN 0.6%
                
Electronic Equipment, Instruments & Components 0.6%
AU Optronics Corp. ADR(a)
     74,572       708,434  
 
              
TURKEY 0.2%
                
Commercial Banks 0.2%
                
Turkiye Garanti Bankasi AS
     53,700       277,830  
 
              
UNITED KINGDOM 19.1%
                
Aerospace & Defense 2.4%
                
BAE Systems PLC
     235,500       1,154,609  
Rolls-Royce Group PLC*
     182,224       1,658,393  
 
              
 
             2,813,002  
 
              
Commercial Banks 1.5%
                
Barclays PLC
     342,800       1,775,463  
 
              
Hotels, Restaurants & Leisure 0.9%
                
Thomas Cook Group PLC
     127,800       364,718  
Tui Travel PLC
     203,700       672,198  
 
              
 
             1,036,916  
 
              
Insurance 1.0%
                
Aviva PLC
     112,900       632,221  
Old Mutual PLC
     309,400       586,543  
 
              
 
             1,218,764  
 
              
Metals & Mining 2.7%
                
Eurasian Natural Resources Corp PLC
     27,200       386,474  
Kazakhmys PLC
     33,400       636,424  
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

3

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide International Value Fund
Common Stocks (continued)
                 
            Market  
    Shares     Value  
 
UNITED KINGDOM (continued)
                
Metals & Mining (continued)
                
Rio Tinto PLC
     40,300     $ 2,085,756  
 
              
 
             3,108,654  
 
              
Multiline Retail 0.9%
                
Marks & Spencer Group PLC
     198,300       1,071,842  
 
              
Oil, Gas & Consumable Fuels 2.1%
                
BP PLC
     387,400       2,477,458  
 
              
Pharmaceuticals 1.9%
                
AstraZeneca PLC
     45,200       2,266,325  
 
              
Tobacco 2.2%
                
British American Tobacco PLC
     36,900       1,269,540  
Imperial Tobacco Group PLC
     47,200       1,335,602  
 
              
 
             2,605,142  
 
              
Trading Companies & Distributors 0.5%
Travis Perkins PLC*
     43,400       573,948  
 
              
Wireless Telecommunication Services 3.0%
Vodafone Group PLC
     1,519,300       3,542,543  
 
              
 
             22,490,057  
 
              
 
                
Total Common Stocks
(cost $129,652,289)
             116,673,572  
 
              
Mutual Fund 0.5%
                 
            Market  
    Shares     Value  
 
Money Market Fund 0.5%
                
Invesco Liquid Assets Portfolio — Institutional Class, 0.26% (c)
     586,303               586,303  
 
              
Total Mutual Fund
(cost $586,303)
             586,303  
 
              
Repurchase Agreement 5.2%
                 
    Principal     Market  
    Amount     Value  
 
Morgan Stanley, 0.21%, dated 07/30/2010, due 08/02/2010, repurchase price $6,176,958, collateralized by U.S. Government Agency Mortgages ranging from 3.50% - 6.00%, maturing 05/01/22 - 06/01/40; total market value $6,300,387(d)
   $ 6,176,850     $ 6,176,850  
 
              
 
                
Total Repurchase Agreement
(cost $6,176,850)
             6,176,850  
 
              
 
                
Total Investments
(cost $136,415,442) (e) — 104.6%
     123,436,725  
 
                
Liabilities in excess of other assets — (4.6)%     (5,456,758 )
 
              
 
                
NET ASSETS — 100.0%
           $ 117,979,967  
 
              
 
*   Denotes a non-income producing security.
 
(a)   The security or a portion of this security is on loan at July 31, 2010. The total value of securities on loan at July 31, 2010 was $5,844,425.
 
(b)   Rule 144A, Section 4(2), or other security which is restricted as to sale to institutional investors. These securities were deemed liquid pursuant to procedures approved by the Board of Trustees. The aggregate value of these securities at July 31, 2010 was $1,044,101 which represents 0.89% of net assets.
 
(c)   Represents 7-day effective yield as of July 31, 2010.
 
(d)   The security was purchased with cash collateral held from securities on loan. The total value of this security as of July 31, 2010 was $6,176,850.
 
(e)   At July 31, 2010, the tax basis cost of the Fund’s investments was $150,761,729, tax unrealized appreciation and depreciation were $12,567,692 and $(39,892,696), respectively.
 
†   Amount rounds to less than 0.1%.
     
ADR
  American Depositary Receipt
 
AG
  Stock Corporation
 
AS
  Stock Corporation
 
ASA
  Stock Corporation
 
BR
  Brazil
 
GDR
  Global Depositary Receipt
 
KR
  South Korea
 
Ltd.
  Limited
 
NV
  Public Traded Company
 
PLC
  Public Limited Company
 
REG
  Registered Shares
 
RU
  Russia
 
RSP
  Savings Shares
 
SA
  Stock Company
 
SCA
  Limited partnership with share capital
 
SE
  European Public Limited Liability Company
 
SpA
  Limited Share Company
 
TW
  Taiwan
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

4

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide International Value Fund
At July 31, 2010, the Fund’s open forward foreign currency contracts against the United States Dollar were as follows:
                                         
            Currency                     Unrealized  
        Delivery   Received/     Contract     Market     Appreciation/  
Currency   Counterparty   Date   (Delivered)     Value     Value     (Depreciation)  
 
Short Contracts:
                                        
Australian Dollar
   JPMorgan Chase Bank   10/15/10     (439,000 )   $ (377,544 )   $ (393,701 )   $ (16,157 )
Australian Dollar
   JPMorgan Chase Bank   10/15/10     (3,101,000 )     (2,666,891 )     (2,781,018 )     (114,127 )
British Pound
   JPMorgan Chase Bank   10/15/10     (181,000 )     (274,101 )     (283,928 )     (9,827 )
British Pound
   JPMorgan Chase Bank   10/15/10     (2,230,000 )     (3,395,465 )     (3,498,119 )     (102,654 )
Canadian Dollar
   JPMorgan Chase Bank   10/15/10     (294,000 )     (286,254 )     (285,672 )     582  
Canadian Dollar
   JPMorgan Chase Bank   10/15/10     (352,000 )     (334,235 )     (342,028 )     (7,793 )
Canadian Dollar
   JPMorgan Chase Bank   10/15/10     (4,898,000 )     (4,744,377 )     (4,759,252 )     (14,875 )
Euro
   JPMorgan Chase Bank   10/15/10     (7,864,000 )     (9,933,608 )     (10,246,844 )     (313,236 )
Euro
   JPMorgan Chase Bank   10/15/10     (1,817,000 )     (2,238,181 )     (2,367,564 )     (129,383 )
Euro
   JPMorgan Chase Bank   10/15/10     (1,429,000 )     (1,769,088 )     (1,861,997 )     (92,909 )
Japanese Yen
   JPMorgan Chase Bank   10/15/10     (195,252,000 )     (2,187,551 )     (2,261,518 )     (73,967 )
Japanese Yen
   JPMorgan Chase Bank   10/15/10     (22,961,000 )     (253,483 )     (265,947 )     (12,464 )
 
                                  
Total Short Contracts
                   $ (28,460,778 )   $ (29,347,588 )   $ (886,810 )
 
                                  
                                         
            Currency                     Unrealized  
        Delivery   Received/     Contract     Market     Appreciation/  
Currency   Counterparty   Date   (Delivered)     Value     Value     (Depreciation)  
 
Long Contracts:
                                        
Australian Dollar
   JPMorgan Chase Bank   10/15/10     439,000     $ 380,284     $ 393,701     $ 13,417  
British Pound
   JPMorgan Chase Bank   10/15/10     2,519,000       3,730,463       3,951,463       221,000  
British Pound
   JPMorgan Chase Bank   10/15/10     850,000       1,272,680       1,333,364       60,684  
Euro
   JPMorgan Chase Bank   10/15/10     373,000       483,504       486,021       2,517  
Japanese Yen
   JPMorgan Chase Bank   10/15/10     218,213,000       2,516,730       2,527,465       10,735  
New Zealand Dollar
   JPMorgan Chase Bank   10/15/10     1,244,000       872,541       897,384       24,843  
New Zealand Dollar
   JPMorgan Chase Bank   10/15/10     683,000       477,588       492,696       15,108  
New Zealand Dollar
   JPMorgan Chase Bank   10/15/10     3,994,000       2,798,676       2,881,152       82,476  
Norwegian Krone
   JPMorgan Chase Bank   10/15/10     13,957,000       2,182,725       2,288,180       105,455  
Norwegian Krone
   JPMorgan Chase Bank   10/15/10     21,374,000       3,274,730       3,504,161       229,431  
Swedish Krona
   JPMorgan Chase Bank   10/15/10     6,494,000       883,585       898,878       15,293  
Swedish Krona
   JPMorgan Chase Bank   10/15/10     21,091,000       2,814,873       2,919,346       104,473  
Swedish Krona
   JPMorgan Chase Bank   10/15/10     14,578,000       1,873,307       2,017,838       144,531  
Swiss Franc
   JPMorgan Chase Bank   10/15/10     2,330,000       2,216,915       2,238,390       21,475  
Swiss Franc
   JPMorgan Chase Bank   10/15/10     2,548,000       2,413,290       2,447,819       34,529  
 
                                  
Total Long Contracts
                   $ 28,191,891     $ 29,277,858     $ 1,085,967  
 
                                  
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

5

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide International Value Fund
In accordance with the authorative guidance on fair value measurements and disclosures under GAAP, the Fund discloses the fair value of its investments in a hierarchy that prioritizes the inputs to valuation techniques used to measure the fair value. This standard defines fair value, sets out a framework for measuring fair value and expands disclosures about fair value measurements. The hierarchy gives the highest priority to readily available unadjusted quoted prices in active markets for identical assets (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements) when market prices are not readily available or reliable. The three levels of the hierarchy established are summarized below:
Level 1:   Quoted prices in active markets for identical assets.
Level 2:   Other significant observable inputs (including quoted prices of similar securities, interest rates, prepayment speeds, credit risk, etc).
Level 3:   Significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments).
Changes in valuation techniques may result in transfers in or out of an investment’s assigned level within the hierarchy.
The inputs or methodology used to value securities and other investments are not intended to indicate the risk associated with investing in those securities and investments.
The following is a summary of the inputs used to value the Fund’s net assets as of July 31, 2010:
                                 
Asset Type   Level 1     Level 2     Level 3     Total  
 
Assets:
                                
Common Stocks
                                
Aerospace & Defense
   $ 504,053     $ 2,813,002     $ —     $ 3,317,055  
Airlines
     —       566,429       —       566,429  
Automobiles
     —       3,003,422       —       3,003,422  
Beverages
     —       1,865,014       —       1,865,014  
Building Products
     —       4,299       —       4,299  
Capital Markets
     —       1,807,362       —       1,807,362  
Chemicals
     —       1,672,054       —       1,672,054  
Commercial Banks
     1,726,694       14,308,754       —       16,035,448  
Computers & Peripherals
     —       1,407,229       —       1,407,229  
Construction & Engineering
     —       1,405,411       —       1,405,411  
Consumer Finance
     —       1,312,784       —       1,312,784  
Diversified Financial Services
     —       19,713       —       19,713  
Diversified Telecommunication Services
     —       6,271,739       —       6,271,739  
Electric Utilities
     —       4,204,138       —       4,204,138  
Electronic Equipment, Instruments & Components
     708,434       —       —       708,434  
Energy Equipment & Services
     —       828,432       —       828,432  
Food & Staples Retailing
     —       2,274,946       —       2,274,946  
Gas Utilities
     —       553,227       —       553,227  
Health Care Providers & Services
     —       278,129       —       278,129  
Hotels, Restaurants & Leisure
     —       1,036,916       —       1,036,916  
Household Durables
     —       2,461,943       —       2,461,943  
Industrial Conglomerates
     —       481,965       —       481,965  
Information Technology Services
     —       570,449       —       570,449  
Insurance
     698,274       5,125,060       —       5,823,334  
Leisure Equipment & Products
     —       179,735       —       179,735  
Machinery
     —       689,622       —       689,622  
Media
     —       2,714,768       —       2,714,768  
Metals & Mining
     363,450       8,799,704       —       9,163,154  
Multiline Retail
     —       1,540,388       —       1,540,388  
Multi-Utilities
     —       284,633       —       284,633  
Office Electronics
     —       764,676       —       764,676  
Oil, Gas & Consumable Fuels
     4,532,995       9,001,881       —       13,534,876  
Pharmaceuticals
     —       8,189,852       —       8,189,852  
Professional Services
     —       929,553       —       929,553  
Real Estate Management & Development
     —       3,391,855       —       3,391,855  
Road & Rail
     —       1,158,550       —       1,158,550  
Semiconductors & Semiconductor Equipment
     —       1,044,101       —       1,044,101  
Software
     —       278,806       —       278,806  
Specialty Retail
     —       1,080,931       —       1,080,931  
Textiles, Apparel & Luxury Goods
     —       1,047,562       —       1,047,562  
Tobacco
     —       4,027,659       —       4,027,659  
                                 
Asset Type   Level 1     Level 2     Level 3     Total  
 
Assets:
                                
Common Stocks (continued)
                                
Trading Companies & Distributors
   $ —     $ 4,264,410     $ —     $ 4,264,410  
Wireless Telecommunication Services
     —       4,478,569       —       4,478,569  
 
                        
Total Common Stocks
     8,533,900       108,139,672       —       116,673,572  
 
                        
Forward Currency Contracts
     —       1,086,549       —       1,086,549  
Mutual Fund
     586,303       —       —       586,303  
Repurchase Agreement
     —       6,176,850       —       6,176,850  
 
                        
Total Assets
     9,120,203       115,403,071       —       124,523,274  
 
                        
 
                                
Liabilities:
                                
Forward Currency Contracts
     —       (887,392 )     —       (887,392 )
 
                        
Total Liabilities
     —       (887,392 )     —       (887,392 )
 
                        
Total
   $ 9,120,203     $ 114,515,679     $ —     $ 123,635,882  
 
                        
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

6

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide International Value Fund
         
    Rights
 
Balance as of 10/31/09
   $ —  
 
Accrued Accretion/(Amortization)
     —  
 
Change in Unrealized Appreciation/(Depreciation)
     —  
 
Net Purchases/(Sales)
     —  
 
Transfers Into Level 3
     —  
 
Transfers Out of Level 3
     —  
 
Balance as of 7/31/10
   $ —  
 
Amounts designated as “—”, which may include fair valued securities, are zero or have been rounded to zero.
For the period ended July 31, 2010 there were no significant transfers between Levels 1 and 2.
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

7

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide International Value Fund
The Fund is subject to the guidance on disclosures about derivative instruments and hedging activities. The guidance requires enhanced disclosure about an entity’s derivative and hedging activities.
The following is a summary of the Fund’s derivative instruments categorized by risk exposure as of July 31, 2010. Please see below for information on the Fund’s policy regarding the objectives and strategies for using forward foreign currency contracts.
Forward Foreign Currency Contracts
The Fund is subject to foreign currency exchange risk in the normal course of pursuing its objective. The Fund may enter into forward foreign currency contracts in connection with planned purchases or sales of securities denominated in a foreign currency or to hedge the U.S. dollar value of portfolio securities denominated in a foreign currency. Forward foreign currency contracts are valued at the current cost of covering these contracts, as provided by an independent pricing service approved by the Board of Trustees. A forward foreign currency contract is adjusted daily by the exchange rate of the underlying currency, and any gains or losses are recorded for financial statement purposes as unrealized gains or losses until the contract settlement rate. When the Fund enters into a forward foreign currency contract, it is exposed to risks from unanticipated movements in the value of the foreign currency relative to the U.S. dollar, and the risk that the counterparties to the contract may be unable to meet their obligations under the contracts.
Fair Values of Derivative Instruments as of July 31, 2010
Derivatives not accounted for as hedging instruments
             
        Fair Value  
 
Assets:
            
Forward foreign currency contracts
   Receivables - Unrealized appreciation from forward foreign currency contracts   $ 1,086,549  
 
          
Total
       $ 1,086,549  
 
          
 
            
Liabilities:
            
Forward foreign currency contracts
   Payables - Unrealized depreciation from forward foreign currency contracts     (887,392 )
 
          
Total
       $ (887,392 )
 
          
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

8

 

Statement of Investments
July 31, 2010 (Unaudited)
Nationwide Large Cap Value Fund
Common Stocks 99.0%
                 
            Market  
    Shares     Value  
 
Aerospace & Defense 2.1%
                
General Dynamics Corp.
     2,800     $ 171,500  
L-3 Communications Holdings, Inc.
     1,800       131,472  
 
              
 
             302,972  
 
              
Air Freight & Logistics 0.9%
                
FedEx Corp.
     1,500       123,825  
 
              
Auto Components 0.5%
                
Lear Corp.*
     900       70,353  
 
              
Beverages 1.9%
                
Central European Distribution Corp.*
     6,000       156,420  
PepsiCo, Inc.
     1,700       110,347  
 
              
 
             266,767  
 
              
Biotechnology 0.7%
                
Cephalon, Inc.*
     1,800       102,150  
 
              
Building Products 0.7%
                
Armstrong World Industries, Inc.*
     2,800       102,368  
 
              
Capital Markets 3.2%
                
Ameriprise Financial, Inc.
     3,100       131,409  
Goldman Sachs Group, Inc. (The)
     2,100       316,722  
 
              
 
             448,131  
 
              
Chemicals 2.7%
                
Ashland, Inc.
     2,600       132,210  
Cabot Corp.
     4,000       118,000  
Cytec Industries, Inc.
     2,600       129,792  
 
              
 
             380,002  
 
              
Commercial Banks 6.9%
                
CIT Group, Inc.*
     4,900       178,164  
Comerica, Inc.
     3,700       141,932  
East West Bancorp, Inc.
     10,500       163,695  
Fifth Third Bancorp
     14,500       184,295  
U.S. Bancorp
     6,500       155,350  
Wells Fargo & Co.
     5,800       160,834  
 
              
 
             984,270  
 
              
Commercial Services & Supplies 0.6%
                
Brink’s Co. (The)
     4,200       91,980  
 
              
Computers & Peripherals 0.8%
                
Western Digital Corp.*
     4,100       108,199  
 
              
Diversified Consumer Services 0.6%
                
ITT Educational Services, Inc.*
     1,000       80,740  
 
              
Diversified Financial Services 6.0%
                
Bank of America Corp.
     27,218       382,140  
Citigroup, Inc.*
     48,900       200,490  
JPMorgan Chase & Co.
     6,728       271,004  
 
              
 
             853,634  
 
              
Diversified Telecommunication Services 5.4%
                
AT&T, Inc.
     23,452       608,345  
Qwest Communications International, Inc.
     28,800       163,008  
 
              
 
             771,353  
 
              
Electric Utilities 3.3%
                
American Electric Power Co., Inc.
     5,200       187,096  
Entergy Corp.
     2,300       178,273  
PPL Corp.
     3,900       106,431  
 
              
 
             471,800  
 
              
Electronic Equipment, Instruments & Components 0.9%
                
Jabil Circuit, Inc.
     9,300       134,943  
 
              
Energy Equipment & Services 1.8%
                
National Oilwell Varco, Inc.
     2,600       101,816  
Rowan Cos., Inc.*
     5,800       146,508  
 
              
 
             248,324  
 
              
Food & Staples Retailing 1.9%
                
CVS Caremark Corp.
     4,100       125,829  
Wal-Mart Stores, Inc.
     2,800       143,332  
 
              
 
             269,161  
 
              
Food Products 2.2%
                
Archer-Daniels-Midland Co.
     6,200       169,632  
Del Monte Foods Co.
     10,300       142,964  
 
              
 
             312,596  
 
              
Gas Utilities 0.8%
                
Oneok, Inc.
     2,500       116,325  
 
              
Health Care Equipment & Supplies 0.8%
                
Kinetic Concepts, Inc.*
     3,200       113,632  
 
              
Health Care Providers & Services 4.5%
                
CIGNA Corp.
     5,100       156,876  
Humana, Inc.*
     4,000       188,080  
UnitedHealth Group, Inc.
     5,300       161,385  
WellPoint, Inc.*
     2,600       131,872  
 
              
 
             638,213  
 
              
Hotels, Restaurants & Leisure 0.8%
                
Wyndham Worldwide Corp.
     4,400       112,332  
 
              
Household Durables 0.6%
                
Whirlpool Corp.
     1,000       83,300  
 
              
Household Products 2.7%
                
Kimberly-Clark Corp.
     2,100       134,652  
Procter & Gamble Co. (The)
     4,000       244,640  
 
              
 
             379,292  
 
              
Independent Power Producers & Energy Traders 1.0%
                
Mirant Corp.*
     12,600       138,222  
 
              
Industrial Conglomerates 2.7%
                
General Electric Co.
     23,500       378,820  
 
              
Insurance 7.2%
                
Allstate Corp. (The)
     4,700       132,728  
Genworth Financial, Inc., Class A*
     10,000       135,800  
Hartford Financial Services Group, Inc.
     6,600       154,506  
Lincoln National Corp.
     6,500       169,260  
Prudential Financial, Inc.
     2,400       137,496  
Reinsurance Group of America, Inc.
     3,000       143,940  
Unum Group
     6,300       143,766  
 
              
 
             1,017,496  
 
              
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

1

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide Large Cap Value Fund
Common Stocks (Continued)
                 
            Market  
    Shares     Value  
 
Internet & Catalog Retail 0.7%
                
Liberty Media Corp. — Interactive, Class A*
     8,800     $ 99,616  
 
              
Leisure Equipment & Products 0.8%
                
Mattel, Inc.
     5,700       120,612  
 
              
Machinery 1.7%
                
AGCO Corp.*
     3,000       104,280  
Trinity Industries, Inc.
     6,400       130,368  
 
              
 
             234,648  
 
              
Media 3.0%
                
Gannett Co., Inc.
     9,800       129,164  
New York Times Co. (The), Class A*
     11,300       98,762  
Walt Disney Co. (The)
     5,700       192,033  
 
              
 
             419,959  
 
              
Metals & Mining 0.7%
                
Alcoa, Inc.
     9,300       103,881  
 
              
Multi-Utilities 2.0%
                
CMS Energy Corp.
     7,200       114,624  
NiSource, Inc.
     10,000       165,000  
 
              
 
             279,624  
 
              
Oil, Gas & Consumable Fuels 9.3%
                
Chevron Corp.
     6,700       510,607  
ConocoPhillips
     4,000       220,880  
Marathon Oil Corp.
     7,500       250,875  
Murphy Oil Corp.
     3,000       164,250  
Valero Energy Corp.
     10,000       169,900  
 
              
 
             1,316,512  
 
              
Personal Products 0.8%
                
NBTY, Inc.*
     2,000       107,780  
 
              
Pharmaceuticals 6.2%
                
Endo Pharmaceuticals Holdings, Inc.*
     4,700       112,847  
Johnson & Johnson
     2,900       168,461  
Merck & Co., Inc.
     6,100       210,206  
Pfizer, Inc.
     25,852       387,780  
 
              
 
             879,294  
 
              
Real Estate Investment Trusts (REITs) 3.4%
                
Duke Realty Corp.
     8,500       101,660  
Hospitality Properties Trust
     7,300       149,285  
SL Green Realty Corp.
     3,900       234,936  
 
              
 
             485,881  
 
              
Road & Rail 1.0%
                
Kansas City Southern*
     3,700       135,790  
 
              
Semiconductors & Semiconductor Equipment 1.6%
                
Micron Technology, Inc.*
     15,100       109,928  
Texas Instruments, Inc.
     5,000       123,450  
 
              
 
             233,378  
 
              
Software 1.3%
                
FactSet Research Systems, Inc.
     2,400       180,000  
 
              
Specialty Retail 1.0%
                
AutoZone, Inc.*
     700       148,099  
 
              
Tobacco 1.3%
                
Altria Group, Inc.
     8,500       188,360  
 
              
Total Common Stocks
(cost $13,288,337)
             14,034,634  
 
              
Mutual Fund 0.9%
                 
            Market  
    Shares     Value  
 
Money Market Fund 0.9%
                
Invesco Liquid Assets Portfolio - Institutional Class, 0.26% (a)
     121,844       121,844  
 
              
Total Mutual Fund
(cost $121,844)
             121,844  
 
              
 
                
Total Investments
(cost $13,410,181) (b) — 99.9%
             14,156,478  
 
                
Other assets in excess of liabilities — 0.1%
             11,838  
 
              
 
                
NET ASSETS — 100.0%
           $ 14,168,316  
 
              
 
*   Denotes a non-income producing security.
 
(a)   Represents 7-day effective yield as of July 31, 2010.
 
(b)   At July 31, 2010, the tax basis cost of the Fund’s investments was $14,052,101, tax unrealized appreciation and depreciation were $1,022,097 and $(917,720), respectively.
REIT   Real Estate Investment Trust
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

2

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide Large Cap Value Fund
In accordance with the authorative guidance on fair value measurements and disclosures under GAAP, the Fund discloses the fair value of its investments in a hierarchy that prioritizes the inputs to valuation techniques used to measure the fair value. This standard defines fair value, sets out a framework for measuring fair value and expands disclosures about fair value measurements. The hierarchy gives the highest priority to readily available unadjusted quoted prices in active markets for identical assets (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements) when market prices are not readily available or reliable. The three levels of the hierarchy established are summarized below:
Level 1:   Quoted prices in active markets for identical assets.
Level 2:   Other significant observable inputs (including quoted prices of similar securities, interest rates, prepayment speeds, credit risk, etc).
Level 3:   Significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments).
Changes in valuation techniques may result in transfers in or out of an investment’s assigned level within the hierarchy.
The inputs or methodology used to value securities and other investments are not intended to indicate the risk associated with investing in those securities and investments.
The following is a summary of the inputs used to value the Fund’s net assets as of July 31, 2010:
                                 
Asset Type*   Level 1   Level 2   Level 3   Total
 
Assets:
                                
Common Stocks
   $ 14,034,634     $ —     $ —     $ 14,034,634  
Mutual Fund
     121,844       —       —       121,844  
 
Total
   $ 14,156,478     $ —     $ —     $ 14,156,478  
 
Amounts designated as “—” are zero or have been rounded to zero.
 
*   See Statement of Investments for identification of securities by type and industry classification.
For the period ended July 31, 2010 there were no significant transfers between Levels 1 and 2.
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

3

 

Statement of Investments
July 31, 2010 (Unaudited)
Nationwide U.S. Small Cap Value Fund
Common Stocks 99.0%
                 
            Market  
    Shares     Value  
 
Aerospace & Defense 1.4%
                
AAR Corp.*
     2,384     $ 40,051  
Allied Defense Group, Inc. (The)*
     400       1,340  
Argon ST, Inc.*
     1,200       41,364  
Ascent Solar Technologies, Inc.*
     2,800       7,616  
Ceradyne, Inc.*
     2,800       65,100  
Ducommun, Inc.
     1,200       25,068  
Esterline Technologies Corp.*
     2,300       118,059  
Innovative Solutions & Support, Inc.*
     1,400       8,442  
Kratos Defense & Security Solutions, Inc.*
     700       7,742  
Ladish Co., Inc.*
     600       17,646  
LMI Aerospace, Inc.*
     347       5,976  
Moog, Inc., Class A*
     1,300       46,553  
SIFCO Industries, Inc.
     200       2,050  
Sparton Corp.*
     800       4,560  
Triumph Group, Inc.
     1,400       106,260  
 
              
 
             497,827  
 
              
Air Freight & Logistics 0.2%
                
Air Transport Services Group, Inc.*
     2,971       15,776  
Atlas Air Worldwide Holdings, Inc.*
     900       52,632  
 
              
 
             68,408  
 
              
Airlines 0.8%
                
AirTran Holdings, Inc.*
     780       3,760  
Alaska Air Group, Inc.*
     2,300       118,657  
ExpressJet Holdings, Inc.*
     1,500       4,500  
Hawaiian Holdings, Inc.*
     800       4,800  
JetBlue Airways Corp.*
     14,459       92,971  
Pinnacle Airlines Corp.*
     2,253       12,504  
SkyWest, Inc.
     3,945       49,115  
 
              
 
             286,307  
 
              
Auto Components 1.3%
                
Dana Holding Corp.*
     400       4,752  
Drew Industries, Inc.*
     500       10,565  
Federal-Mogul Corp.*
     4,800       86,112  
Modine Manufacturing Co.*
     3,700       37,555  
Motorcar Parts of America, Inc.*
     1,500       10,020  
Shiloh Industries, Inc.*
     1,577       15,265  
Spartan Motors, Inc.
     3,700       15,873  
Standard Motor Products, Inc.
     2,000       19,600  
Stoneridge, Inc.*
     1,317       14,105  
Superior Industries International, Inc.
     3,319       47,761  
TRW Automotive Holdings Corp.*
     5,700       200,013  
 
              
 
             461,621  
 
              
Beverages 0.6%
                
Central European Distribution Corp.*
     2,900       75,603  
Constellation Brands, Inc., Class A*
     8,400       143,304  
Craft Brewers Alliance, Inc.*
     800       3,832  
MGP Ingredients, Inc.*
     1,600       12,128  
 
              
 
             234,867  
 
              
Biotechnology 0.5%
                
Celera Corp.*
     8,700       58,203  
Lexicon Pharmaceuticals, Inc.*
     7,400       11,174  
Martek Biosciences Corp.*
     3,500       72,415  
Maxygen, Inc.*
     3,700       22,977  
MediciNova, Inc.*
     570       2,759  
 
              
 
             167,528  
 
              
Building Products 1.2%
                
American Woodmark Corp.
     1,300       21,489  
Ameron International Corp.
     700       43,008  
Apogee Enterprises, Inc.
     2,900       32,654  
Armstrong World Industries, Inc.*
     2,800       102,368  
Gibraltar Industries, Inc.*
     2,900       31,291  
Griffon Corp.*
     2,689       36,463  
Insteel Industries, Inc.
     700       6,503  
Owens Corning, Inc.*
     1,700       53,516  
Simpson Manufacturing Co., Inc.
     1,500       38,685  
Universal Forest Products, Inc.
     1,500       46,455  
US Home Systems, Inc.*
     700       1,876  
USG Corp.*
     500       6,010  
 
              
 
             420,318  
 
              
Capital Markets 1.3%
                
American Capital Ltd.*
     15,200       78,888  
Capital Southwest Corp.
     350       31,087  
Cowen Group, Inc., Class A*
     700       2,912  
E*Trade Financial Corp.*
     3,580       52,376  
FirstCity Financial Corp.*
     1,000       7,250  
Harris & Harris Group, Inc.*
     2,174       8,848  
International Assets Holding Corp.*
     800       13,552  
JMP Group, Inc.
     900       6,345  
Knight Capital Group, Inc., Class A*
     4,800       69,024  
MCG Capital Corp.
     8,170       47,304  
MF Global Holdings Ltd.*
     6,947       44,669  
Penson Worldwide, Inc.*
     2,500       13,450  
Piper Jaffray Cos.*
     700       21,833  
Safeguard Scientifics, Inc.*
     2,300       29,141  
Sanders Morris Harris Group, Inc.
     3,450       18,975  
Stifel Financial Corp.*
     234       10,844  
SWS Group, Inc.
     3,400       29,648  
 
              
 
             486,146  
 
              
Chemicals 3.5%
                
A. Schulman, Inc.
     181       3,546  
American Pacific Corp.*
     600       2,850  
American Vanguard Corp.
     900       7,695  
Ashland, Inc.
     4,400       223,740  
Cabot Corp.
     5,300       156,350  
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

1

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide U.S. Small Cap Value Fund
Common Stocks (continued)
                 
            Market  
    Shares     Value  
 
Chemicals (continued)
                
Chase Corp.
     500     $ 7,030  
Core Molding Technologies, Inc.*
     350       1,963  
Cytec Industries, Inc.
     2,900       144,768  
Ferro Corp.*
     2,700       28,809  
Huntsman Corp.
     5,200       54,444  
Innospec, Inc.*
     2,300       25,300  
Kronos Worldwide, Inc.*
     900       20,979  
Landec Corp.*
     2,400       15,480  
Minerals Technologies, Inc.
     1,000       52,170  
NL Industries, Inc.
     900       7,614  
OM Group, Inc.*
     3,000       81,000  
Penford Corp.*
     1,400       7,756  
Quaker Chemical Corp.
     1,000       35,260  
Sensient Technologies Corp.
     1,800       53,028  
Spartech Corp.*
     3,200       33,472  
Valspar Corp.
     5,900       185,319  
Westlake Chemical Corp.
     5,000       123,700  
Zoltek Cos., Inc.*
     1,091       11,401  
 
              
 
             1,283,674  
 
              
Commercial Banks 10.1%
                
1st Source Corp.
     2,686       49,396  
Ameris Bancorp*
     1,760       17,318  
AmeriServ Financial, Inc.*
     1,800       3,402  
Associated Banc-Corp.
     4,200       57,078  
Bancorp, Inc. (The)*
     2,600       19,630  
BancTrust Financial Group, Inc.*
     1,100       3,388  
Banner Corp.
     2,700       6,345  
Boston Private Financial Holdings, Inc.
     8,101       53,548  
Cadence Financial Corp.*
     1,000       1,580  
Cape Bancorp, Inc.*
     600       4,536  
Capital City Bank Group, Inc.
     2,100       29,043  
CapitalSource, Inc.
     18,097       97,362  
Capitol Bancorp Ltd.*
     2,400       3,288  
Cardinal Financial Corp.
     1,900       19,418  
Cascade Financial Corp.*
     747       276  
Cathay General Bancorp
     8,300       97,608  
Center Bancorp, Inc.
     950       6,973  
Center Financial Corp.*
     2,102       10,867  
Centerstate Banks, Inc.
     500       4,410  
Central Jersey Bancorp*
     700       5,124  
Central Pacific Financial Corp.*
     3,200       5,312  
Chemical Financial Corp.
     1,300       29,185  
City National Corp.
     900       51,003  
CoBiz Financial, Inc.
     3,406       21,492  
Columbia Banking System, Inc.
     2,700       49,356  
Comerica, Inc.
     214       8,209  
Community Bank System, Inc.
     1,200       29,700  
Community Trust Bancorp, Inc.
     800       21,984  
Crescent Financial Corp.*
     300       825  
Danvers Bancorp, Inc.
     1,600       26,240  
East West Bancorp, Inc.
     5,000       77,950  
Encore Bancshares, Inc.*
     900       8,424  
Enterprise Financial Services Corp.
     1,463       14,981  
Fidelity Southern Corp.*
     1,212       7,902  
Financial Institutions, Inc.
     1,089       20,658  
First Bancorp, North Carolina
     1,500       25,035  
First Bancorp, Puerto Rico*
     12,800       7,232  
First Busey Corp.
     3,200       14,688  
First Commonwealth Financial Corp.
     9,097       48,214  
First Community Bancshares, Inc.
     1,884       27,714  
First Financial Bancorp
     3,200       50,880  
First Financial Corp.
     200       5,674  
First Horizon National Corp.*
     13,319       152,769  
First Merchants Corp.
     2,000       17,360  
First Midwest Bancorp, Inc.
     3,500       44,030  
First Security Group, Inc.
     900       1,755  
First South Bancorp, Inc.
     850       10,064  
FNB Corp.
     12,066       103,406  
FNB United Corp.*
     1,000       500  
Fulton Financial Corp.
     9,400       85,634  
German American Bancorp, Inc.
     1,000       16,750  
Great Southern Bancorp, Inc.
     1,000       21,930  
Green Bankshares, Inc.*
     1,261       12,648  
Guaranty Bancorp*
     5,200       5,772  
Hampton Roads Bankshares, Inc.*
     1,442       1,586  
Hanmi Financial Corp.*
     5,800       8,178  
Heartland Financial USA, Inc.
     1,847       32,618  
Heritage Commerce Corp.*
     800       2,832  
Home Bancorp, Inc.*
     850       11,186  
Huntington Bancshares, Inc.
     14,800       89,688  
IBERIABANK Corp.
     1,000       51,960  
Independent Bank Corp.
     1,825       43,453  
Independent Bank Corp., Michigan
     163       57  
Lakeland Bancorp, Inc.
     2,532       22,712  
Macatawa Bank Corp.*
     1,045       1,912  
MainSource Financial Group, Inc.
     2,623       19,777  
MB Financial, Inc.
     3,779       65,528  
MBT Financial Corp.*
     2,200       3,916  
Mercantile Bank Corp.
     600       3,234  
Metro Bancorp, Inc.*
     1,000       12,710  
Nara Bancorp, Inc.*
     4,100       29,397  
National Penn Bancshares, Inc.
     13,300       88,578  
NewBridge Bancorp*
     1,950       7,352  
North Valley Bancorp*
     390       725  
Old National Bancorp
     3,900       41,028  
Old Second Bancorp, Inc.
     1,500       2,085  
Oriental Financial Group, Inc.
     1,200       16,992  
Pacific Capital Bancorp NA*
     5,700       5,757  
Pacific Continental Corp.
     1,640       14,990  
Pacific Mercantile Bancorp*
     1,000       3,850  
PacWest Bancorp
     2,700       56,511  
Peoples Bancorp, Inc.
     1,300       22,425  
Pinnacle Financial Partners, Inc.*
     3,500       35,315  
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

2

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide U.S. Small Cap Value Fund
Common Stocks (continued)
                 
            Market  
    Shares     Value  
 
Commercial Banks (continued)
                
Popular, Inc.*
     30,600     $ 87,822  
Preferred Bank, Los Angeles*
     720       1,368  
PrivateBancorp, Inc.
     5,537       68,493  
Prosperity Bancshares, Inc.
     257       8,707  
Renasant Corp.
     2,398       36,570  
Republic Bancorp, Inc., Class A
     889       22,029  
Republic First Bancorp, Inc.*
     800       1,616  
S&T Bancorp, Inc.
     1,300       26,390  
Sandy Spring Bancorp, Inc.
     600       10,164  
SCBT Financial Corp.
     600       19,338  
Seacoast Banking Corp of Florida*
     8,200       11,152  
Sierra Bancorp
     1,250       14,813  
Simmons First National Corp., Class A
     1,600       42,160  
Smithtown Bancorp, Inc.
     700       2,800  
Somerset Hills Bancorp
     420       3,402  
Southern Community Financial Corp.*
     1,400       2,786  
Southside Bancshares, Inc.
     100       1,896  
Southwest Bancorp, Inc.
     600       8,730  
State Bancorp, Inc.
     1,778       17,033  
StellarOne Corp.
     2,576       34,956  
Sterling Bancshares, Inc.
     8,500       44,115  
Sun Bancorp, Inc.*
     364       1,944  
Superior Bancorp*
     1,400       2,492  
Susquehanna Bancshares, Inc.
     13,200       114,180  
Synovus Financial Corp.
     16,200       42,444  
Taylor Capital Group, Inc.*
     1,000       9,940  
Texas Capital Bancshares, Inc.*
     900       15,021  
Tower Bancorp, Inc.
     843       17,973  
TowneBank
     923       14,214  
Trustmark Corp.
     300       6,600  
Umpqua Holdings Corp.
     10,100       126,553  
Union First Market Bankshares Corp.
     2,600       36,920  
United Bankshares, Inc.
     200       5,106  
United Community Banks, Inc.*
     2,294       7,111  
United Security Bancshares*
     248       1,042  
Univest Corp of Pennsylvania
     1,400       24,262  
Virginia Commerce Bancorp, Inc.*
     3,085       19,775  
Washington Banking Co.
     443       6,384  
Washington Trust Bancorp, Inc.
     1,400       27,104  
Webster Financial Corp.
     4,600       85,744  
WesBanco, Inc.
     3,200       55,520  
West Bancorp, Inc.*
     1,362       9,112  
West Coast Bancorp*
     1,800       4,590  
Western Alliance Bancorp*
     7,100       51,617  
Whitney Holding Corp.
     10,269       83,384  
Wilmington Trust Corp.
     1,000       10,140  
Wilshire Bancorp, Inc.
     2,100       15,813  
Wintrust Financial Corp.
     1,100       34,232  
Yadkin Valley Financial Corp.*
     2,000       5,880  
Zions Bancorporation
     7,800       173,082  
 
              
 
             3,686,737  
 
              
Commercial Services & Supplies 1.6%
                
ABM Industries, Inc.
     2,700       58,590  
American Reprographics Co.*
     415       3,693  
Amrep Corp.*
     180       2,155  
ATC Technology Corp.*
     600       14,388  
Bowne & Co., Inc.
     1,555       17,587  
Casella Waste Systems, Inc., Class A*
     900       3,591  
Cornell Cos., Inc.*
     1,100       30,723  
Courier Corp.
     1,200       19,116  
EnergySolutions, Inc.
     1,900       9,557  
Ennis, Inc.
     1,200       20,304  
G&K Services, Inc., Class A
     1,400       32,578  
Geo Group, Inc. (The)*
     1,000       21,580  
IESI-BFC Ltd.
     1,000       22,510  
Intersections, Inc.*
     1,600       7,904  
Kimball International, Inc., Class B
     2,530       15,787  
M&F Worldwide Corp.*
     900       25,362  
McGrath Rentcorp
     1,400       32,648  
Metalico, Inc.*
     900       3,771  
Mobile Mini, Inc.*
     3,800       65,132  
Multi-Color Corp.
     100       1,306  
RR Donnelley & Sons Co.
     1,300       21,931  
Schawk, Inc.
     2,400       35,592  
Steelcase, Inc., Class A
     6,000       41,460  
Superior Uniform Group, Inc.
     300       3,060  
UniFirst Corp.
     500       21,980  
United Stationers, Inc.*
     200       10,830  
Viad Corp.
     2,000       39,800  
Virco Manufacturing
     1,500       4,410  
WCA Waste Corp.*
     218       929  
 
              
 
             588,274  
 
              
Communications Equipment 1.9%
                
Anaren, Inc.*
     800       12,656  
Arris Group, Inc.*
     9,200       85,744  
Aviat Networks, Inc.*
     6,514       26,317  
Aware, Inc.*
     1,300       3,250  
Bel Fuse, Inc., Class B
     1,019       24,028  
Black Box Corp.
     1,700       51,748  
CommScope, Inc.*
     800       16,272  
Communications Systems, Inc.
     845       8,670  
Digi International, Inc.*
     2,600       21,606  
EchoStar Corp., Class A*
     1,070       20,437  
EMS Technologies, Inc.*
     1,400       23,296  
Emulex Corp.*
     2,100       18,270  
EndWave Corp.*
     800       2,296  
Extreme Networks*
     2,700       7,722  
Globecomm Systems, Inc.*
     2,224       18,303  
Network Equipment Technologies, Inc.*
     650       2,028  
Occam Networks, Inc.*
     2,100       13,356  
Oplink Communications, Inc.*
     1,810       29,159  
Opnext, Inc.*
     7,430       13,374  
Optical Cable Corp.*
     300       897  
ORBCOMM, Inc.*
     3,400       6,358  
PC-Tel, Inc.*
     1,200       7,596  
Performance Technologies, Inc.*
     1,121       2,522  
Seachange International, Inc.*
     3,000       26,880  
Sycamore Networks, Inc.
     2,420       56,338  
Symmetricom, Inc.*
     2,000       10,660  
Tellabs, Inc.
     22,200       154,956  
Telular Corp.*
     700       2,205  
Tollgrade Communications, Inc.*
     1,200       7,980  
UTStarcom, Inc.*
     12,400       26,412  
 
              
 
             701,336  
 
              
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

3

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide U.S. Small Cap Value Fund
Common Stocks (continued)
                 
            Market  
    Shares     Value  
 
Computers & Peripherals 0.6%
                
ActivIdentity Corp.*
     3,130     $ 6,135  
ADPT Corp.*
     10,700       32,635  
Avid Technology, Inc.*
     1,800       23,274  
Concurrent Computer Corp.*
     500       2,455  
Datalink Corp.*
     1,100       3,740  
Dataram Corp.*
     600       1,098  
Electronics for Imaging, Inc.*
     4,000       42,600  
Hutchinson Technology, Inc.*
     800       3,040  
Imation Corp.*
     3,200       29,824  
Intevac, Inc.*
     1,900       20,900  
Key Tronic Corp.*
     1,000       5,250  
Novatel Wireless, Inc.*
     2,600       17,420  
Presstek, Inc.*
     2,000       5,280  
Rimage Corp.*
     120       2,025  
Silicon Graphics International Corp.*
     2,900       22,620  
 
              
 
             218,296  
 
              
Construction & Engineering 1.0%
                
Comfort Systems USA, Inc.
     2,200       25,102  
Dycom Industries, Inc.*
     4,000       36,200  
EMCOR Group, Inc.*
     3,000       78,030  
Furmanite Corp.*
     656       2,834  
Great Lakes Dredge & Dock Corp.
     4,900       27,440  
Insituform Technologies, Inc., Class A*
     2,400       54,960  
Integrated Electrical Services, Inc.*
     1,200       4,380  
Layne Christensen Co.*
     1,300       32,773  
MYR Group, Inc.*
     700       11,767  
Northwest Pipe Co.*
     305       5,542  
Pike Electric Corp.*
     2,700       25,353  
Sterling Construction Co., Inc.*
     500       6,195  
Tutor Perini Corp.*
     1,900       36,632  
URS Corp.*
     756       30,535  
 
              
 
             377,743  
 
              
Construction Materials 0.2%
                
Headwaters, Inc.*
     6,300       21,798  
Texas Industries, Inc.
     1,100       36,520  
 
              
 
             58,318  
 
              
Consumer Finance 0.9%
                
AmeriCredit Corp.*
     6,580       158,644  
Cash America International, Inc.
     700       23,450  
CompuCredit Holdings Corp.
     4,133       20,954  
First Marblehead Corp. (The)*
     12,145       32,670  
Nelnet, Inc., Class A
     3,500       70,560  
Rewards Network, Inc.
     466       6,473  
Student Loan Corp. (The)
     800       20,080  
United PanAm Financial Corp.*
     1,200       5,220  
 
              
 
             338,051  
 
              
Containers & Packaging 0.8%
                
Bemis Co., Inc.
     3,600       107,856  
Boise, Inc.*
     6,800       40,732  
Graphic Packaging Holding Co.*
     16,566       57,981  
Myers Industries, Inc.
     2,928       23,160  
Temple-Inland, Inc.
     2,300       46,138  
 
              
 
             275,867  
 
              
Distributors 0.1%
                
Audiovox Corp., Class A*
     2,000       14,900  
Core-Mark Holding Co., Inc.*
     1,200       36,624  
 
              
 
             51,524  
 
              
Diversified Consumer Services 0.7%
                
Carriage Services, Inc.*
     1,570       7,348  
Collectors Universe
     627       8,170  
Jackson Hewitt Tax Service, Inc.*
     2,700       2,997  
Mac-Gray Corp.
     1,050       11,371  
Regis Corp.
     6,100       92,903  
Service Corp. International
     14,100       120,132  
Stewart Enterprises, Inc., Class A
     3,400       18,258  
 
              
 
             261,179  
 
              
Diversified Financial Services 0.8%
                
Asset Acceptance Capital Corp.*
     2,200       9,878  
Asta Funding, Inc.
     1,750       15,837  
Encore Capital Group, Inc.*
     900       19,800  
Interactive Brokers Group, Inc., Class A*
     1,473       24,378  
Marlin Business Services Corp.*
     1,506       16,837  
Medallion Financial Corp.
     1,852       12,983  
NewStar Financial, Inc.*
     5,286       38,376  
PHH Corp.*
     5,400       107,514  
Pico Holdings, Inc.*
     500       15,670  
Portfolio Recovery Associates, Inc.*
     500       34,840  
Resource America, Inc., Class A
     1,256       5,464  
 
              
 
             301,577  
 
              
Diversified Telecommunication Services 0.2%
                
Arbinet Corp.*
     350       2,782  
General Communication, Inc., Class A*
     4,400       37,312  
IDT Corp., Class B*
     2,200       40,744  
SureWest Communications*
     1,400       9,534  
 
              
 
             90,372  
 
              
Electric Utilities 0.1%
                
Unitil Corp.
     1,361       29,738  
 
              
Electrical Equipment 1.1%
                
Baldor Electric Co.
     2,000       76,440  
Encore Wire Corp.
     2,750       58,520  
EnerSys*
     2,400       58,128  
Franklin Electric Co., Inc.
     200       6,150  
General Cable Corp.*
     600       15,924  
Hoku Corp.*
     3,234       10,251  
LaBarge, Inc.*
     300       3,759  
LSI Industries, Inc.
     1,750       9,205  
Ocean Power Technologies, Inc.*
     900       4,968  
Orion Energy Systems, Inc.*
     2,691       8,719  
PowerSecure International, Inc.*
     474       4,963  
Regal-Beloit Corp.
     800       48,664  
Technology Research Corp.
     600       3,102  
Thomas & Betts Corp.*
     2,200       87,208  
Ultralife Corp.*
     1,750       8,050  
 
              
 
             404,051  
 
              
Electronic Equipment, Instruments & Components 4.2%
                
Arrow Electronics, Inc.*
     5,100       126,429  
AVX Corp.
     9,300       130,944  
Benchmark Electronics, Inc.*
     5,200       86,840  
Checkpoint Systems, Inc.*
     3,400       67,898  
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

4

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide U.S. Small Cap Value Fund
Common Stocks (continued)
                 
            Market  
    Shares     Value  
 
Electronic Equipment, Instruments & Components (continued)
                
Cognex Corp.
     2,300     $ 42,895  
CPI International, Inc.*
     2,101       29,561  
DDi Corp.
     1,100       9,966  
Electro Rent Corp.
     2,300       31,740  
FARO Technologies, Inc.*
     900       18,513  
Frequency Electronics, Inc.*
     900       4,590  
Gerber Scientific, Inc.*
     3,100       17,794  
GTSI Corp.*
     1,000       5,380  
ID Systems, Inc.*
     729       2,012  
Identive Group, Inc.*
     700       1,120  
Ingram Micro, Inc., Class A*
     9,300       153,729  
Insight Enterprises, Inc.*
     1,200       17,484  
Iteris, Inc.*
     1,700       2,550  
Keithley Instruments, Inc.
     700       7,553  
L-1 Identity Solutions, Inc.*
     8,200       66,912  
Littelfuse, Inc.*
     1,200       42,732  
LoJack Corp.*
     1,300       4,589  
Measurement Specialties, Inc.*
     800       13,360  
Mercury Computer Systems, Inc.*
     1,200       15,840  
Methode Electronics, Inc.
     1,400       14,952  
Multi-Fineline Electronix, Inc.*
     1,300       32,942  
NAPCO Security Technologies, Inc.*
     1,700       2,941  
NU Horizons Electronics Corp.*
     1,508       5,187  
OSI Systems, Inc.*
     1,500       41,685  
PAR Technology Corp.*
     1,300       7,774  
Park Electrochemical Corp.
     500       13,720  
PC Connection, Inc.*
     1,900       13,129  
PC Mall, Inc.*
     1,300       5,499  
Perceptron, Inc.*
     700       3,297  
Planar Systems, Inc.*
     1,900       4,465  
RadiSys Corp.*
     900       8,883  
Richardson Electronics, Ltd.
     1,400       13,370  
Rogers Corp.*
     500       15,475  
Sanmina-SCI Corp.*
     700       8,799  
ScanSource, Inc.*
     600       16,548  
Smart Modular Technologies (WWH), Inc.*
     2,600       14,066  
Spectrum Control, Inc.*
     900       13,581  
SYNNEX Corp.*
     3,700       97,643  
Tech Data Corp.*
     3,600       142,416  
Tessco Technologies, Inc.
     600       8,472  
TTM Technologies, Inc.*
     1,958       20,069  
Viasystems Group, Inc.*
     118       1,820  
Vicon Industries, Inc.*
     371       1,610  
Vishay Intertechnology, Inc.*
     10,100       85,749  
Vishay Precision Group, Inc.*
     721       9,121  
X-Rite, Inc.*
     1,848       6,838  
Zygo Corp.*
     1,600       13,248  
 
              
 
             1,523,730  
 
              
Energy Equipment & Services 3.6%
                
Allis-Chalmers Energy, Inc.*
     6,100       15,921  
Basic Energy Services, Inc.*
     4,600       43,102  
Bristow Group, Inc.*
     3,800       127,034  
Bronco Drilling Co., Inc.*
     2,600       9,880  
Cal Dive International, Inc.*
     2,200       13,024  
Complete Production Services, Inc.*
     6,600       127,050  
Dawson Geophysical Co.*
     1,050       24,476  
ENGlobal Corp.*
     1,500       3,345  
Exterran Holdings, Inc.*
     1,886       50,300  
Geokinetics, Inc.*
     1,107       4,882  
Global Industries Ltd.*
     8,800       41,712  
Gulf Island Fabrication, Inc.
     1,700       30,532  
Gulfmark Offshore, Inc., Class A*
     1,500       44,160  
Helix Energy Solutions Group, Inc.*
     1,500       14,085  
Hercules Offshore, Inc.*
     9,000       22,860  
Hornbeck Offshore Services, Inc.*
     2,000       33,660  
Key Energy Services, Inc.*
     4,200       40,572  
Matrix Service Co.*
     763       7,393  
Mitcham Industries, Inc.*
     1,000       7,350  
Natural Gas Services Group, Inc.*
     1,000       16,550  
Newpark Resources, Inc.*
     5,500       43,945  
OMNI Energy Services Corp.*
     1,400       3,766  
Parker Drilling Co.*
     2,900       12,122  
Patterson-UTI Energy, Inc.
     1,979       32,515  
PHI, Inc., Non-Voting Shares*
     1,450       23,040  
Pioneer Drilling Co.*
     4,800       31,776  
Rowan Cos., Inc.*
     3,000       75,780  
SEACOR Holdings, Inc.*
     1,300       107,666  
Seahawk Drilling, Inc.*
     600       5,958  
Superior Well Services, Inc.*
     2,900       53,853  
TETRA Technologies, Inc.*
     181       1,886  
TGC Industries, Inc.*
     1,890       6,426  
Tidewater, Inc.
     2,180       89,336  
Trico Marine Services, Inc.*
     1,800       1,404  
Union Drilling, Inc.*
     2,400       14,232  
Unit Corp.*
     2,900       118,610  
Willbros Group, Inc.*
     800       7,320  
 
              
 
             1,307,523  
 
              
Food & Staples Retailing 1.2%
                
Andersons, Inc. (The)
     1,600       54,992  
Great Atlantic & Pacific Tea Co.*
     1,000       3,460  
Ingles Markets, Inc., Class A
     1,627       26,455  
Nash Finch Co.
     1,600       62,912  
Pantry, Inc. (The)*
     2,000       36,000  
Ruddick Corp.
     1,800       63,810  
Spartan Stores, Inc.
     2,700       38,772  
Susser Holdings Corp.*
     1,600       19,216  
Weis Markets, Inc.
     2,100       75,285  
Winn-Dixie Stores, Inc.*
     4,100       40,221  
 
              
 
             421,123  
 
              
Food Products 2.2%
                
B&G Foods, Inc., Class A
     4,700       53,909  
Chiquita Brands International, Inc.*
     4,600       67,528  
Corn Products International, Inc.
     1,370       45,676  
Del Monte Foods Co.
     12,200       169,336  
Farmer Bros Co.
     1,300       21,944  
Fresh Del Monte Produce, Inc.*
     1,100       22,924  
Hain Celestial Group, Inc. (The)*
     3,000       63,180  
HQ Sustainable Maritime Industries, Inc.*
     1,300       5,525  
Imperial Sugar Co.
     1,450       17,400  
John B. Sanfilippo & Son, Inc.*
     300       4,212  
Omega Protein Corp.*
     2,600       13,520  
Ralcorp Holdings, Inc.*
     200       11,680  
Seneca Foods Corp., Class A*
     800       24,464  
Smart Balance, Inc.*
     6,600       25,212  
Smithfield Foods, Inc.*
     8,200       116,850  
Tasty Baking Co.
     700       4,641  
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

5

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide U.S. Small Cap Value Fund
Common Stocks (continued)
                 
            Market  
    Shares     Value  
 
Food Products (continued)
                
TreeHouse Foods, Inc.*
     2,400     $ 114,456  
 
              
 
             782,457  
 
              
Health Care Equipment & Supplies 1.6%
                
Alere, Inc.*
     1,600       45,008  
Alphatec Holdings, Inc.*
     745       3,151  
Analogic Corp.
     500       22,735  
AngioDynamics, Inc.*
     2,400       36,984  
Anika Therapeutics, Inc.*
     1,100       6,446  
Cantel Medical Corp.
     1,000       15,880  
Cardiac Science Corp.*
     1,200       2,136  
CONMED Corp.*
     2,200       42,306  
Cooper Cos., Inc. (The)
     3,500       136,010  
Cutera, Inc.*
     731       5,717  
Cynosure, Inc., Class A*
     1,200       12,336  
Digirad Corp.*
     600       1,098  
Greatbatch, Inc.*
     2,250       50,805  
Invacare Corp.
     2,700       64,341  
Medical Action Industries, Inc.*
     600       8,220  
Misonix, Inc.*
     600       1,224  
Osteotech, Inc.*
     1,900       7,201  
Palomar Medical Technologies, Inc.*
     400       4,464  
PhotoMedex, Inc.*
     200       1,144  
Rochester Medical Corp.*
     800       7,744  
RTI Biologics, Inc.*
     6,700       19,363  
Symmetry Medical, Inc.*
     3,400       33,082  
Teleflex, Inc.
     400       22,668  
Theragenics Corp.*
     3,000       3,630  
TomoTherapy, Inc.*
     5,200       17,316  
Young Innovations, Inc.
     700       18,690  
 
              
 
             589,699  
 
              
Health Care Providers & Services 3.4%
                
Allied Healthcare International, Inc.*
     6,300       15,624  
American Dental Partners, Inc.*
     1,100       12,606  
AMN Healthcare Services, Inc.*
     2,800       16,856  
Amsurg Corp.*
     1,300       23,816  
Assisted Living Concepts, Inc., Class A*
     460       14,472  
Brookdale Senior Living, Inc.*
     3,000       42,540  
Capital Senior Living Corp.*
     2,400       12,960  
Community Health Systems, Inc.*
     2,200       71,346  
Continucare Corp.*
     6,000       22,860  
Coventry Health Care, Inc.*
     1,100       21,813  
Dynacq Healthcare, Inc.*
     256       586  
Ensign Group, Inc. (The)
     800       14,400  
Five Star Quality Care, Inc.*
     3,800       13,870  
Gentiva Health Services, Inc.*
     2,200       45,386  
Hanger Orthopedic Group, Inc.*
     1,300       22,295  
Health Net, Inc.*
     1,300       30,615  
Healthspring, Inc.*
     4,900       92,120  
Healthways, Inc.*
     1,100       15,664  
Integramed America, Inc.*
     1,000       8,190  
inVentiv Health, Inc.*
     2,800       72,632  
Kindred Healthcare, Inc.*
     200       2,660  
LCA-Vision, Inc.*
     200       1,038  
LifePoint Hospitals, Inc.*
     3,400       105,094  
Medcath Corp.*
     2,398       21,246  
Molina Healthcare, Inc.*
     2,200       65,582  
Nighthawk Radiology Holdings, Inc.*
     2,500       7,400  
NovaMed, Inc.*
     733       6,047  
Odyssey HealthCare, Inc.*
     1,800       48,168  
Omnicare, Inc.
     5,300       130,539  
PDI, Inc.*
     1,400       11,242  
PharMerica Corp.*
     3,000       39,180  
Prospect Medical Holdings, Inc.*
     769       5,606  
Psychiatric Solutions, Inc.*
     400       13,256  
Res-Care, Inc.*
     3,000       29,460  
Skilled Healthcare Group, Inc., Class A*
     1,800       4,788  
Sun Healthcare Group, Inc.*
     5,329       44,124  
SunLink Health Systems, Inc.*
     700       1,596  
Triple-S Management Corp., Class B*
     1,700       33,796  
Universal American Corp.*
     6,743       112,878  
 
              
 
             1,254,351  
 
              
Health Care Technology 0.1%
                
ADAM, Inc.*
     300       966  
Arrhythmia Research Technology, Inc.
     200       1,000  
Omnicell, Inc.*
     1,300       16,016  
Vital Images, Inc.*
     1,300       19,097  
 
              
 
             37,079  
 
              
Hotels, Restaurants & Leisure 2.9%
                
Benihana, Inc., Class A*
     700       4,382  
Biglari Holdings, Inc.*
     130       37,765  
Bluegreen Corp.*
     4,500       13,275  
Bob Evans Farms, Inc.
     2,100       55,062  
Boyd Gaming Corp.*
     5,100       43,146  
Churchill Downs, Inc.
     1,250       45,463  
DineEquity, Inc.*
     1,400       51,044  
Dover Motorsports, Inc.*
     1,000       1,610  
Gaylord Entertainment Co.*
     2,100       60,879  
Great Wolf Resorts, Inc.*
     1,700       3,774  
International Speedway Corp., Class A
     500       12,950  
Isle of Capri Casinos, Inc.*
     2,000       16,800  
J Alexander’s Corp.*
     500       2,320  
Lakes Entertainment, Inc.*
     1,900       4,788  
Luby’s, Inc.*
     2,896       15,059  
Marcus Corp.
     2,900       35,380  
McCormick & Schmick’s Seafood Restaurants, Inc.*
     1,300       10,283  
Monarch Casino & Resort, Inc.*
     1,200       12,780  
Morton’s Restaurant Group, Inc.*
     600       2,934  
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

6

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide U.S. Small Cap Value Fund
Common Stocks (continued)
                 
            Market  
    Shares     Value  
 
Hotels, Restaurants & Leisure (continued)
                
MTR Gaming Group, Inc.*
     2,160     $ 4,666  
Multimedia Games, Inc.*
     2,201       9,244  
Nathan’s Famous, Inc.*
     250       3,942  
O’Charleys, Inc.*
     2,600       18,122  
Orient-Express Hotels Ltd., Class A*
     2,700       24,597  
Penn National Gaming, Inc.*
     1,700       46,563  
Red Lion Hotels Corp.*
     1,000       7,450  
Red Robin Gourmet Burgers, Inc.*
     200       4,268  
Rick’s Cabaret International, Inc.*
     1,000       7,690  
Rubio’s Restaurants, Inc.*
     1,000       8,660  
Ruby Tuesday, Inc.*
     5,200       53,144  
Speedway Motorsports, Inc.
     4,200       57,624  
Vail Resorts, Inc.*
     1,000       37,880  
VCG Holding Corp.*
     1,100       2,200  
Wendy’s/Arby’s Group, Inc., Class A
     13,100       57,116  
Wyndham Worldwide Corp.
     10,500       268,065  
 
              
 
             1,040,925  
 
              
Household Durables 2.9%
                
Acme United Corp.
     200       2,014  
Bassett Furniture Industries, Inc.*
     1,400       6,734  
Beazer Homes USA, Inc.*
     4,800       20,304  
Blyth, Inc.
     851       33,657  
Brookfield Homes Corp.*
     3,300       24,585  
Cavco Industries, Inc.*
     500       17,530  
Cobra Electronics Corp.*
     800       2,144  
Craftmade International, Inc.*
     300       1,725  
CSS Industries, Inc.
     1,000       18,020  
Dixie Group, Inc.*
     700       2,303  
Emerson Radio Corp.
     2,700       6,075  
Ethan Allen Interiors, Inc.
     800       12,272  
Furniture Brands International, Inc.*
     5,000       27,600  
Helen of Troy Ltd.*
     2,700       64,692  
Hooker Furniture Corp.
     500       5,910  
Jarden Corp.
     7,700       222,915  
Kid Brands, Inc.*
     1,300       10,816  
La-Z-Boy, Inc.*
     1,900       16,264  
Leggett & Platt, Inc.
     5,700       118,788  
Lennar Corp., Class A
     3,400       50,218  
Lennar Corp., Class B
     600       7,590  
Lifetime Brands, Inc.*
     808       11,870  
M.D.C. Holdings, Inc.
     400       11,648  
M/I Homes, Inc.*
     1,800       18,990  
Meritage Homes Corp.*
     2,700       47,466  
Mohawk Industries, Inc.*
     3,900       190,827  
Orleans Homebuilders, Inc.*
     1,500       165  
Palm Harbor Homes, Inc.*
     1,200       2,700  
Pulte Group, Inc.*
     687       6,032  
Ryland Group, Inc.
     1,200       19,584  
Skyline Corp.
     800       16,064  
Stanley Furniture Co., Inc.*
     1,150       4,404  
Toll Brothers, Inc.*
     2,400       41,664  
 
              
 
             1,043,570  
 
              
Household Products 0.2%
                
Central Garden and Pet Co., Class A*
     4,200       42,462  
Central Garden and Pet Co.*
     2,100       21,861  
 
              
 
             64,323  
 
              
Independent Power Producers & Energy Traders 0.2%
                
Mirant Corp.*
     2,100       23,037  
RRI Energy, Inc.*
     9,100       35,945  
 
              
 
             58,982  
 
              
Industrial Conglomerates 0.1%
                
Standex International Corp.
     1,100       33,022  
 
              
Information Technology Services 1.1%
                
Acorn Energy, Inc.*
     400       2,044  
Acxiom Corp.*
     1,500       23,010  
CACI International, Inc., Class A*
     1,600       75,232  
CIBER, Inc.*
     300       999  
Convergys Corp.*
     7,300       81,541  
CoreLogic, Inc.
     5,800       116,174  
Dynamics Research Corp.*
     1,100       10,692  
Edgewater Technology, Inc.*
     400       980  
Euronet Worldwide, Inc.*
     1,700       26,690  
Hackett Group, Inc. (The)*
     4,000       12,560  
Integral Systems, Inc.*
     700       5,292  
Online Resources Corp.*
     586       2,403  
SRA International, Inc., Class A*
     900       19,998  
StarTek, Inc.*
     1,500       6,930  
TechTeam Global, Inc.*
     1,000       6,160  
Virtusa Corp.*
     1,300       13,858  
 
              
 
             404,563  
 
              
Insurance 10.6%
                
21st Century Holding Co.
     900       3,438  
Affirmative Insurance Holdings, Inc.*
     1,900       7,315  
Alleghany Corp.*
     302       90,666  
Allied World Assurance Co. Holdings Ltd.
     500       24,910  
Alterra Capital Holdings Ltd.
     1,584       30,650  
American Equity Investment Life Holding Co.
     5,500       59,400  
American Financial Group, Inc.
     7,200       212,184  
American National Insurance Co.
     500       39,140  
American Physicians Capital, Inc.
     200       8,190  
American Safety Insurance Holdings Ltd.*
     1,250       20,625  
AMERISAFE, Inc.*
     1,700       30,532  
Arch Capital Group Ltd.*
     800       62,608  
Argo Group International Holdings Ltd.
     2,400       74,736  
Aspen Insurance Holdings Ltd.
     1,400       38,290  
Assurant, Inc.
     500       18,645  
Assured Guaranty Ltd.
     3,408       53,506  
Axis Capital Holdings Ltd.
     857       26,713  
Citizens, Inc.*
     284       1,897  
CNA Surety Corp.*
     4,200       72,450  
CNO Financial Group, Inc.*
     15,600       83,772  
Delphi Financial Group, Inc., Class A
     3,246       84,234  
Donegal Group, Inc., Class A
     2,400       28,224  
Eastern Insurance Holdings, Inc.
     1,180       13,546  
EMC Insurance Group, Inc.
     300       6,708  
Endurance Specialty Holdings Ltd.
     1,300       50,167  
Enstar Group Ltd.*
     644       46,838  
FBL Financial Group, Inc., Class A
     2,300       52,187  
Fidelity National Financial, Inc., Class A
     2,150       31,756  
First Acceptance Corp.*
     3,404       5,855  
First American Financial Corp.
     5,800       85,550  
First Mercury Financial Corp.
     2,100       24,066  
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

7

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide U.S. Small Cap Value Fund
Common Stocks (continued)
                 
            Market  
    Shares     Value  
 
Insurance (continued)
                
Flagstone Reinsurance Holdings SA
     1,600     $ 17,664  
FPIC Insurance Group, Inc.*
     450       13,298  
Global Indemnity PLC*
     1,586       24,139  
Hallmark Financial Services*
     1,874       19,002  
Hanover Insurance Group, Inc. (The)
     3,000       131,490  
Harleysville Group, Inc.
     934       29,402  
HCC Insurance Holdings, Inc.
     6,900       180,228  
Hilltop Holdings, Inc.*
     4,800       49,872  
Horace Mann Educators Corp.
     2,200       37,004  
Independence Holding Co.
     1,900       12,179  
MBIA, Inc.*
     15,000       130,200  
Meadowbrook Insurance Group, Inc.
     3,845       35,220  
Mercer Insurance Group, Inc.
     500       8,340  
Mercury General Corp.
     2,400       103,512  
Montpelier Re Holdings Ltd.
     2,900       47,154  
National Financial Partners Corp.*
     4,100       43,993  
Navigators Group, Inc. (The)*
     1,000       42,630  
NYMAGIC, Inc.
     492       12,546  
Old Republic International Corp.
     13,000       162,630  
OneBeacon Insurance Group Ltd., Class A
     1,800       28,602  
Phoenix Cos., Inc. (The)*
     12,000       28,800  
Platinum Underwriters Holdings Ltd.
     600       23,448  
PMA Capital Corp., Class A*
     2,500       16,775  
Presidential Life Corp.
     2,000       19,620  
ProAssurance Corp.*
     2,500       148,775  
Protective Life Corp.
     5,000       112,450  
Reinsurance Group of America, Inc.
     4,500       215,910  
RenaissanceRe Holdings Ltd.
     1,200       68,664  
Safety Insurance Group, Inc.
     1,100       43,120  
SeaBright Holdings, Inc.
     2,300       18,837  
Selective Insurance Group, Inc.
     2,200       34,232  
StanCorp Financial Group, Inc.
     450       16,960  
State Auto Financial Corp.
     2,952       46,435  
Stewart Information Services Corp.
     1,700       16,983  
Tower Group, Inc.
     1,596       34,394  
Transatlantic Holdings, Inc.
     4,064       194,300  
United Fire & Casualty Co.
     2,100       45,024  
Unitrin, Inc.
     2,300       63,917  
Validus Holdings Ltd.
     2,232       55,443  
W.R. Berkley Corp.
     1,500       40,515  
White Mountains Insurance Group Ltd.
     300       94,215  
 
              
 
             3,856,720  
 
              
Internet & Catalog Retail 0.1%
                
1-800-FLOWERS.COM, Inc., Class A*
     3,300       7,359  
dELiA*s, Inc.*
     1,700       2,465  
Hollywood Media Corp.*
     2,600       2,912  
Valuevision Media, Inc., Class A*
     3,500       6,405  
 
              
 
             19,141  
 
              
Internet Software & Services 1.4%
                
AOL, Inc.*
     200       4,184  
DivX, Inc.*
     473       3,599  
EarthLink, Inc.
     6,130       54,128  
IAC/InterActiveCorp*
     7,100       177,500  
InfoSpace, Inc.*
     3,400       26,622  
Internap Network Services Corp.*
     1,900       8,892  
Internet Brands, Inc., Class A*
     4,349       47,752  
Internet Capital Group, Inc.*
     3,800       31,996  
iPass, Inc.*
     3,400       4,352  
Keynote Systems, Inc.
     800       8,008  
Knot, Inc. (The)*
     1,800       14,814  
Looksmart Ltd.*
     1,300       1,950  
Marchex, Inc., Class B
     2,000       9,320  
ModusLink Global Solutions, Inc.*
     4,400       28,864  
Perficient, Inc.*
     600       5,190  
RealNetworks, Inc.*
     10,800       35,856  
Soundbite Communications, Inc.*
     1,400       3,990  
Stamps.com, Inc.*
     274       2,998  
support.com, Inc.*
     3,300       13,629  
TechTarget, Inc.*
     1,984       11,487  
TheStreet.com, Inc.
     3,900       11,934  
United Online, Inc.
     1,800       11,376  
Web.com Group, Inc.*
     2,400       7,944  
 
              
 
             526,385  
 
              
Leisure Equipment & Products 0.4%
                
Aldila, Inc.*
     200       790  
Arctic Cat, Inc.*
     1,200       11,940  
Callaway Golf Co.
     6,800       45,900  
Cybex International, Inc.*
     1,400       2,422  
JAKKS Pacific, Inc.*
     900       14,202  
Nautilus, Inc.*
     2,800       5,544  
RC2 Corp.*
     1,971       32,620  
Sport Supply Group, Inc.
     1,000       13,540  
Steinway Musical Instruments, Inc.*
     1,200       23,376  
 
              
 
             150,334  
 
              
Life Sciences Tools & Services 0.2%
                
Affymetrix, Inc.*
     303       1,482  
Albany Molecular Research, Inc.*
     1,100       7,150  
Cambrex Corp.*
     3,100       11,005  
Enzo Biochem, Inc.*
     400       1,840  
Harvard Bioscience, Inc.*
     2,000       7,220  
Kendle International, Inc.*
     1,700       20,927  
Medtox Scientific, Inc.*
     600       6,882  
 
              
 
             56,506  
 
              
Machinery 2.8%
                
Alamo Group, Inc.
     1,289       30,201  
Albany International Corp., Class A
     2,000       36,700  
American Railcar Industries, Inc.*
     2,600       35,490  
Astec Industries, Inc.*
     500       15,675  
Barnes Group, Inc.
     1,500       27,570  
Briggs & Stratton Corp.
     2,300       43,631  
Chart Industries, Inc.*
     476       8,478  
CIRCOR International, Inc.
     1,400       43,792  
Columbus Mckinnon Corp.*
     700       11,011  
EnPro Industries, Inc.*
     500       14,975  
Federal Signal Corp.
     4,200       25,032  
Flanders Corp.*
     1,800       5,400  
Flow International Corp.*
     835       2,271  
FreightCar America, Inc.
     700       17,381  
Gencor Industries, Inc.*
     499       3,817  
Greenbrier Cos., Inc.*
     2,100       27,426  
Hardinge, Inc.
     900       7,614  
Hurco Cos., Inc.*
     800       13,488  
Kadant, Inc.*
     600       11,694  
Kaydon Corp.
     300       11,397  
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

8

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide U.S. Small Cap Value Fund
Common Stocks (continued)
                 
            Market  
    Shares     Value  
 
Machinery (continued)
Key Technology, Inc.*
     300     $ 3,603  
Lydall, Inc.*
     1,200       8,580  
Met-Pro Corp.
     1,200       12,372  
Mfri, Inc.*
     700       4,375  
Miller Industries, Inc.
     1,253       16,753  
Mueller Industries, Inc.
     2,300       56,856  
Mueller Water Products, Inc., Class A
     8,800       33,440  
NACCO Industries, Inc., Class A
     600       53,424  
NN, Inc.*
     1,100       6,479  
Portec Rail Products, Inc.
     1,000       11,610  
Robbins & Myers, Inc.
     200       4,744  
Tecumseh Products Co., Class A*
     1,100       14,234  
Timken Co.
     5,500       184,910  
Titan International, Inc.
     4,000       43,920  
Trinity Industries, Inc.
     2,800       57,036  
Twin Disc, Inc.
     1,102       14,238  
Wabash National Corp.*
     3,000       25,110  
Watts Water Technologies, Inc., Class A
     2,300       74,060  
 
              
 
             1,018,787  
 
              
Marine 0.5%
                
Alexander & Baldwin, Inc.
     3,400       114,070  
American Commercial Lines, Inc.*
     100       2,415  
Eagle Bulk Shipping, Inc.*
     5,800       28,072  
Genco Shipping & Trading Ltd.*
     2,700       45,090  
Horizon Lines, Inc., Class A
     400       1,856  
International Shipholding Corp.
     300       7,482  
 
              
 
             198,985  
 
              
Media 2.3%
                
AH Belo Corp., Class A*
     2,080       16,099  
Alloy, Inc.*
     1,382       13,115  
Ascent Media Corp., Class A*
     1,200       33,360  
Ballantyne Strong, Inc.*
     825       6,369  
Cinemark Holdings, Inc.
     8,200       119,638  
Clear Channel Outdoor Holdings, Inc., Class A*
     1,185       13,047  
E.W. Scripps Co. (The), Class A*
     4,100       32,226  
Fisher Communications, Inc.*
     400       7,080  
Gray Television, Inc.*
     5,900       15,340  
Harte-Hanks, Inc.
     162       1,827  
Journal Communications, Inc., Class A*
     800       3,808  
Lee Enterprises, Inc.*
     3,800       11,172  
Liberty Media Corp. — Capital, Series A*
     7,000       326,480  
Liberty Media Corp. — Starz, Series A*
     1,395       76,572  
Live Nation Entertainment, Inc.*
     6,700       61,841  
McClatchy Co. (The), Class A*
     5,700       19,950  
Media General, Inc., Class A*
     2,200       22,726  
Mediacom Communications Corp., Class A*
     345       2,532  
New Frontier Media, Inc.*
     1,900       3,097  
Outdoor Channel Holdings, Inc.*
     2,200       12,496  
Radio One, Inc., Class D*
     900       990  
Saga Communications, Inc., Class A*
     400       8,960  
Salem Communications Corp., Class A*
     2,100       7,161  
Scholastic Corp.
     200       5,066  
 
              
 
             820,952  
 
              
Metals & Mining 1.4%
                
AM Castle & Co.*
     3,200       47,264  
Brush Engineered Materials, Inc.*
     500       11,925  
Coeur d’Alene Mines Corp.*
     4,400       67,012  
Commercial Metals Co.
     1,300       18,707  
Friedman Industries
     600       3,360  
Haynes International, Inc.
     400       13,464  
Horsehead Holding Corp.*
     3,600       27,576  
Kaiser Aluminum Corp.
     800       32,800  
Olympic Steel, Inc.
     1,000       25,430  
Reliance Steel & Aluminum Co.
     200       7,856  
RTI International Metals, Inc.*
     2,700       76,626  
Schnitzer Steel Industries, Inc., Class A
     500       22,910  
Stillwater Mining Co.*
     3,835       52,808  
Synalloy Corp.
     400       3,700  
Universal Stainless & Alloy*
     900       20,538  
US Gold Corp.*
     4,781       23,666  
Worthington Industries, Inc.
     2,851       40,855  
 
              
 
             496,497  
 
              
Multiline Retail 0.4%
                
Dillard’s, Inc., Class A
     3,000       69,420  
Fred’s, Inc., Class A
     3,500       37,940  
Saks, Inc.*
     6,327       51,945  
 
              
 
             159,305  
 
              
Oil, Gas & Consumable Fuels 3.7%
                
Alon USA Energy, Inc.
     4,100       28,249  
Approach Resources, Inc.*
     2,521       16,992  
ATP Oil & Gas Corp.*
     3,100       32,736  
Berry Petroleum Co., Class A
     1,600       47,712  
Bill Barrett Corp.*
     1,500       53,070  
BioFuel Energy Corp.*
     2,400       3,672  
Comstock Resources, Inc.*
     1,800       45,558  
Crimson Exploration, Inc.*
     2,000       6,200  
Crosstex Energy, Inc.*
     4,500       34,830  
CVR Energy, Inc.*
     2,900       23,490  
Delek US Holdings, Inc.
     4,397       32,978  
DHT Holdings, Inc.
     5,002       21,008  
Double Eagle Petroleum Co.*
     800       3,400  
Energy Partners Ltd.*
     1,141       14,593  
Frontier Oil Corp.
     2,500       30,725  
General Maritime Corp.
     4,400       24,596  
GeoMet, Inc.*
     3,500       3,535  
GeoResources, Inc.*
     333       4,938  
Green Plains Renewable Energy, Inc.*
     1,200       11,112  
Harvest Natural Resources, Inc.*
     4,100       34,030  
HKN, Inc.*
     1,000       3,070  
International Coal Group, Inc.*
     6,229       28,031  
Mariner Energy, Inc.*
     1,700       40,613  
Overseas Shipholding Group, Inc.
     2,600       101,998  
Pacific Ethanol, Inc.*
     5,600       3,247  
Patriot Coal Corp.*
     1,100       13,266  
Penn Virginia Corp.
     4,800       91,200  
Petroleum Development Corp.*
     2,300       67,022  
Rex Energy Corp.*
     2,200       23,320  
Rosetta Resources, Inc.*
     2,000       44,140  
Stone Energy Corp.*
     2,094       24,625  
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

9

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide U.S. Small Cap Value Fund
Common Stocks (continued)
                 
            Market  
    Shares     Value  
 
Oil, Gas & Consumable Fuels (continued)
                
Sunoco, Inc.
     1,500     $ 53,505  
Swift Energy Co.*
     1,900       49,267  
Tesoro Corp.
     4,100       52,931  
USEC, Inc.*
     11,600       64,148  
VAALCO Energy, Inc.*
     388       2,316  
Warren Resources, Inc.*
     700       2,198  
Western Refining, Inc.*
     6,700       35,510  
Whiting Petroleum Corp.*
     2,000       176,020  
 
              
 
             1,349,851  
 
              
Paper & Forest Products 1.4%
                
Buckeye Technologies, Inc.*
     3,900       44,265  
Domtar Corp.
     2,100       122,850  
KapStone Paper and Packaging Corp.*
     700       8,008  
Louisiana-Pacific Corp.*
     9,700       70,616  
MeadWestvaco Corp.
     7,900       189,284  
Mercer International, Inc.*
     4,500       24,165  
Neenah Paper, Inc.
     500       8,970  
P.H. Glatfelter Co.
     3,500       40,005  
Wausau Paper Corp.*
     700       4,781  
 
              
 
             512,944  
 
              
Personal Products 0.3%
                
CCA Industries, Inc.
     400       2,100  
Elizabeth Arden, Inc.*
     1,600       24,848  
Inter Parfums, Inc.
     1,700       29,665  
Mannatech, Inc.*
     1,800       4,896  
Nutraceutical International Corp.*
     400       6,300  
Parlux Fragrances, Inc.*
     1,100       2,497  
Physicians Formula Holdings, Inc.*
     1,300       4,381  
Prestige Brands Holdings, Inc.*
     4,800       39,456  
Schiff Nutrition International, Inc.
     700       5,635  
 
              
 
             119,778  
 
              
Pharmaceuticals 0.8%
                
Hi-Tech Pharmacal Co., Inc.*
     600       10,548  
King Pharmaceuticals, Inc.*
     9,906       86,777  
K-V Pharmaceutical Co., Class A*
     3,700       3,959  
Lannett Co., Inc.*
     1,100       5,060  
Matrixx Initiatives, Inc.*
     1,000       4,720  
Medicis Pharmaceutical Corp., Class A
     989       25,071  
Par Pharmaceutical Cos., Inc.*
     2,200       58,080  
ViroPharma, Inc.*
     8,200       107,994  
 
              
 
             302,209  
 
              
Professional Services 0.7%
                
Barrett Business Services, Inc.
     600       8,976  
CDI Corp.
     2,100       35,280  
CRA International, Inc.*
     1,300       24,986  
Franklin Covey Co.*
     700       4,361  
GP Strategies Corp.*
     2,177       16,436  
Heidrick & Struggles International, Inc.
     1,000       20,100  
Hudson Highland Group, Inc.*
     2,200       9,790  
Kelly Services, Inc., Class A*
     3,406       50,409  
Kforce, Inc.*
     85       1,148  
Korn/Ferry International*
     352       4,946  
LECG Corp.*
     1,010       2,161  
National Technical Systems, Inc.
     400       3,400  
On Assignment, Inc.*
     4,532       21,890  
RCM Technologies, Inc.*
     400       2,052  
School Specialty, Inc.*
     1,200       23,004  
Volt Information Sciences, Inc.*
     1,900       16,967  
 
              
 
             245,906  
 
              
Real Estate Management & Development 0.3%
                
Avatar Holdings, Inc.*
     1,100       22,011  
Forest City Enterprises, Inc., Class A*
     5,200       66,040  
Thomas Properties Group, Inc.
     2,539       9,267  
ZipRealty, Inc.*
     1,900       5,130  
 
              
 
             102,448  
 
              
Road & Rail 1.7%
                
Amerco, Inc.*
     800       54,536  
Arkansas Best Corp.
     2,000       45,140  
Avis Budget Group, Inc.*
     5,800       71,572  
Celadon Group, Inc.*
     1,900       29,716  
Covenant Transport Group, Inc., Class A*
     200       1,878  
Frozen Food Express Industries*
     800       2,848  
Kansas City Southern*
     1,000       36,700  
Marten Transport Ltd.*
     2,300       52,256  
PAM Transportation Services, Inc.*
     1,072       15,673  
Ryder System, Inc.
     3,300       144,111  
Saia, Inc.*
     2,200       33,220  
USA Truck, Inc.*
     1,250       20,487  
Werner Enterprises, Inc.
     5,400       124,362  
 
              
 
             632,499  
 
              
Semiconductors & Semiconductor Equipment 3.3%
                
Actel Corp.*
     2,500       36,650  
Advanced Analogic Technologies, Inc.*
     4,600       14,674  
Amtech Systems, Inc.*
     915       9,205  
Anadigics, Inc.*
     2,700       11,853  
ATMI, Inc.*
     200       2,968  
AuthenTec, Inc.*
     1,500       3,060  
Axcelis Technologies, Inc.*
     12,700       21,209  
AXT, Inc.*
     3,000       17,670  
BTU International, Inc.*
     700       3,920  
Cabot Microelectronics Corp.*
     900       29,421  
Cascade Microtech, Inc.*
     1,000       4,570  
Ceva, Inc.*
     500       6,385  
Cohu, Inc.
     2,144       33,618  
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

10

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide U.S. Small Cap Value Fund
Common Stocks (continued)
                 
            Market  
    Shares     Value  
 
Semiconductors & Semiconductor Equipment (continued)
                
CyberOptics Corp.*
     400     $ 3,892  
DSP Group, Inc.*
     2,788       19,460  
Energy Conversion Devices, Inc.*
     3,700       17,908  
Exar Corp.*
     4,111       28,736  
Fairchild Semiconductor International, Inc.*
     9,500       86,260  
FEI Co.*
     700       13,692  
FormFactor, Inc.*
     500       4,840  
GSI Technology, Inc.*
     2,200       14,960  
Ikanos Communications, Inc.*
     4,200       7,350  
Integrated Device Technology, Inc.*
     16,600       96,446  
Integrated Silicon Solution, Inc.*
     2,500       21,500  
International Rectifier Corp.*
     4,200       82,026  
Intersil Corp., Class A
     6,683       75,919  
IXYS Corp.*
     1,400       12,362  
Kopin Corp.*
     3,700       13,949  
Lattice Semiconductor Corp.*
     6,200       34,472  
Mattson Technology, Inc.*
     2,800       8,204  
Microtune, Inc.*
     4,501       10,758  
MKS Instruments, Inc.*
     1,805       38,735  
MoSys, Inc.*
     876       3,977  
Nanometrics, Inc.*
     1,380       12,600  
OmniVision Technologies, Inc.*
     3,800       84,778  
PDF Solutions, Inc.*
     1,600       6,560  
Pericom Semiconductor Corp.*
     1,645       15,035  
Photronics, Inc.*
     7,400       33,448  
PLX Technology, Inc.*
     1,010       3,858  
Rudolph Technologies, Inc.*
     3,000       25,920  
Sigma Designs, Inc.*
     2,280       23,347  
Silicon Image, Inc.*
     4,000       17,040  
Standard Microsystems Corp.*
     853       18,783  
SunPower Corp., Class A*
     1,300       16,159  
TriQuint Semiconductor, Inc.*
     9,900       68,607  
Ultratech, Inc.*
     1,300       23,491  
Virage Logic Corp.*
     1,800       21,510  
Zoran Corp.*
     5,400       46,440  
 
              
 
             1,208,225  
 
              
Software 0.5%
                
Bsquare Corp.*
     720       2,239  
EPIQ Systems, Inc.
     3,100       40,362  
ePlus, Inc.*
     460       8,239  
JDA Software Group, Inc.*
     1,200       28,200  
Kenexa Corp.*
     1,300       15,639  
Lawson Software, Inc.*
     2,100       16,737  
Mentor Graphics Corp.*
     1,531       14,728  
Opnet Technologies, Inc.
     500       7,620  
Pervasive Software, Inc.*
     500       2,400  
S1 Corp.*
     1,100       6,457  
Smith Micro Software, Inc.*
     2,700       26,541  
THQ, Inc.*
     2,400       10,944  
Wayside Technology Group, Inc.
     200       2,002  
 
              
 
             182,108  
 
              
Specialty Retail 4.7%
                
Aaron’s, Inc.
     1,500       27,240  
AC Moore Arts & Crafts, Inc.*
     2,110       5,191  
America’s Car-Mart, Inc.*
     900       20,952  
AutoNation, Inc.*
     10,100       246,743  
Barnes & Noble, Inc.
     6,100       79,117  
Bebe Stores, Inc.
     2,300       13,685  
Books-A-Million, Inc.
     1,500       9,720  
Borders Group, Inc.*
     816       1,085  
Brown Shoe Co., Inc.
     3,200       46,784  
Build-A-Bear Workshop, Inc.*
     2,800       16,940  
Cabela’s, Inc.*
     6,600       102,894  
Cache, Inc.*
     1,100       5,676  
Casual Male Retail Group, Inc.*
     2,600       8,996  
Charming Shoppes, Inc.*
     8,160       36,557  
Christopher & Banks Corp.
     2,310       17,071  
Coldwater Creek, Inc.*
     3,400       13,328  
Collective Brands, Inc.*
     2,700       43,254  
Conn’s, Inc.*
     1,900       9,994  
Cost Plus, Inc.*
     900       3,087  
Destination Maternity Corp.*
     100       3,095  
Dress Barn, Inc.*
     1,300       32,110  
DSW, Inc., Class A*
     1,300       34,593  
Finish Line, Inc. (The), Class A
     5,600       80,136  
Foot Locker, Inc.
     8,700       118,233  
Genesco, Inc.*
     1,600       43,664  
Golfsmith International Holdings, Inc.*
     700       2,478  
Group 1 Automotive, Inc.*
     2,600       72,072  
Haverty Furniture Cos., Inc.
     1,700       20,604  
HOT Topic, Inc.
     4,300       22,747  
Jo-Ann Stores, Inc.*
     2,000       83,780  
Lithia Motors, Inc., Class A
     1,100       9,680  
MarineMax, Inc.*
     2,300       17,480  
Men’s Wearhouse, Inc. (The)
     1,600       31,136  
New York & Co., Inc.*
     3,200       7,136  
Office Depot, Inc.*
     15,400       66,528  
Pacific Sunwear Of California*
     4,300       17,372  
Penske Automotive Group, Inc.*
     7,300       102,200  
PEP Boys-Manny Moe & Jack
     1,900       18,240  
Rent-A-Center, Inc.*
     4,000       87,960  
Shoe Carnival, Inc.*
     823       17,324  
Sonic Automotive, Inc., Class A*
     500       4,945  
Stage Stores, Inc.
     2,400       26,400  
Stein Mart, Inc.*
     3,227       24,912  
Systemax, Inc.
     1,000       16,360  
Tandy Leather Factory, Inc.
     200       860  
Trans World Entertainment Corp.*
     2,150       3,956  
West Marine, Inc.*
     2,342       24,310  
Zale Corp.*
     3,300       5,808  
 
              
 
             1,704,433  
 
              
Textiles, Apparel & Luxury Goods 1.6%
                
Columbia Sportswear Co.
     2,700       132,327  
Culp, Inc.*
     200       2,084  
Delta Apparel, Inc.*
     158       2,334  
G-III Apparel Group Ltd.*
     600       15,480  
Heelys, Inc.*
     2,200       5,962  
Iconix Brand Group, Inc.*
     5,700       93,822  
Jones Apparel Group, Inc.
     3,200       55,808  
Kenneth Cole Productions, Inc., Class A*
     1,000       13,430  
K-Swiss, Inc., Class A*
     2,300       27,485  
Lacrosse Footwear, Inc.
     132       1,938  
Lakeland Industries, Inc.*
     200       1,802  
Lazare Kaplan International, Inc.*
     300       258  
Movado Group, Inc.*
     1,600       18,176  
Oxford Industries, Inc.
     903       20,227  
Perry Ellis International, Inc.*
     1,600       35,824  
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

11

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide U.S. Small Cap Value Fund
Common Stocks (continued)
                 
            Market  
    Shares     Value  
 
Textiles, Apparel & Luxury Goods (continued)
Quiksilver, Inc.*
     3,200     $ 14,304  
RG Barry Corp.
     400       4,740  
Rocky Brands, Inc.*
     700       5,579  
Skechers U.S.A., Inc., Class A*
     2,600       96,434  
Tandy Brands Accessories, Inc.*
     500       1,850  
Timberland Co. (The), Class A*
     1,200       21,144  
Unifi, Inc.*
     5,800       22,736  
 
              
 
             593,744  
 
              
Thrifts & Mortgage Finance 3.0%
                
Abington Bancorp, Inc.
     2,499       23,840  
Astoria Financial Corp.
     4,800       63,552  
Atlantic Coast Federal Corp.*
     1,200       2,532  
Bank Mutual Corp.
     1,300       7,644  
BankAtlantic Bancorp, Inc., Class A*
     8,887       14,308  
BankFinancial Corp.
     2,114       18,772  
Beneficial Mutual Bancorp, Inc.*
     6,413       64,707  
Berkshire Hills Bancorp, Inc.
     1,300       26,247  
BofI Holding, Inc.*
     900       14,058  
Dime Community Bancshares
     1,800       23,580  
Doral Financial Corp.*
     7,600       18,696  
ESSA Bancorp, Inc.
     1,500       19,080  
Federal Agricultural Mortgage Corp., Class C
     1,000       14,940  
First Defiance Financial Corp.
     300       2,994  
First Financial Holdings, Inc.
     798       10,039  
First Financial Northwest, Inc.
     2,600       11,856  
First Niagara Financial Group, Inc.
     3,992       53,533  
First Place Financial Corp.*
     367       1,332  
Flushing Financial Corp.
     3,247       40,490  
Home Federal Bancorp, Inc.
     2,000       26,100  
HopFed Bancorp, Inc.
     300       2,853  
Legacy Bancorp, Inc.
     700       5,737  
Louisiana Bancorp, Inc.*
     600       8,100  
Meridian Interstate Bancorp, Inc.*
     203       2,196  
MGIC Investment Corp.*
     13,300       114,247  
NewAlliance Bancshares, Inc.
     6,959       84,691  
Northeast Community Bancorp, Inc.
     300       1,710  
Northwest Bancshares, Inc.
     4,895       59,376  
OceanFirst Financial Corp.
     1,710       21,649  
PMI Group, Inc. (The)*
     8,800       27,544  
Provident Financial Holdings, Inc.
     1,200       7,380  
Provident Financial Services, Inc.
     2,000       25,620  
Provident New York Bancorp
     1,147       10,644  
Radian Group, Inc.
     9,800       84,280  
Riverview Bancorp, Inc.*
     589       1,178  
Rome Bancorp, Inc.
     700       6,405  
SI Financial Group, Inc.
     1,100       7,425  
Tree.com, Inc.*
     1,200       8,640  
United Community Financial Corp.*
     763       1,221  
United Financial Bancorp, Inc.
     1,800       26,802  
United Western Bancorp, Inc.
     472       397  
Washington Federal, Inc.
     5,000       87,000  
Waterstone Financial, Inc.*
     1,700       6,783  
Westfield Financial, Inc.
     3,700       30,377  
 
              
 
             1,090,555  
 
              
Tobacco 0.4%
                
Alliance One International, Inc.*
     10,088       38,032  
Universal Corp.
     2,100       93,135  
 
              
 
             131,167  
 
              
Trading Companies & Distributors 1.1%
                
Aceto Corp.
     1,834       12,508  
Aircastle Ltd.
     3,600       32,904  
Applied Industrial Technologies, Inc.
     1,400       39,200  
CAI International, Inc.*
     141       1,843  
Empire Resources, Inc.
     300       1,110  
GATX Corp.
     2,600       73,476  
H&E Equipment Services, Inc.*
     3,366       29,284  
Interline Brands, Inc.*
     1,200       21,708  
TAL International Group, Inc.
     1,300       35,022  
Titan Machinery, Inc.*
     1,544       22,033  
United Rentals, Inc.*
     4,900       64,582  
WESCO International, Inc.*
     2,100       75,453  
 
              
 
             409,123  
 
              
Water Utilities 0.1%
                
Middlesex Water Co.
     800       13,240  
Pennichuck Corp.
     200       4,500  
SJW Corp.
     600       14,934  
 
              
 
             32,674  
 
              
Wireless Telecommunication Services 0.7%
                
FiberTower Corp.*
     1,000       4,770  
Leap Wireless International, Inc.*
     5,300       63,017  
MetroPCS Communications, Inc.*
     1,200       10,740  
Telephone & Data Systems, Inc.
     1,700       58,021  
Telephone & Data Systems, Inc. — Special Shares
     1,800       54,018  
United States Cellular Corp.*
     1,200       56,436  
 
              
 
             247,002  
 
              
Total Common Stocks
(cost $38,694,189)
             36,019,384  
 
              
Right 0.0%
                 
    Number of     Market  
    Rights     Value  
 
Oil, Gas & Consumable Fuels 0.0%†
                
GeoMet, Inc. 8/18/2010*
     354       3  
 
              
Total Right
(cost $—)
             3  
 
              
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

12

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide U.S. Small Cap Value Fund
Mutual Fund 0.9%
                 
            Market  
    Shares     Value  
 
Money Market Fund 0.9%
                
Invesco Liquid Assets Portfolio - Institutional Class, 0.26% (a)
     314,878       314,878  
 
              
Total Mutual Fund
(cost $314,878)
             314,878  
 
              
Total Investments
(cost $39,009,067) (b) — 99.9%
             36,334,265  
 
                
Other assets in excess of liabilities — 0.1%
             25,408  
 
              
 
                
NET ASSETS — 100.0%
           $ 36,359,673  
 
              
 
*   Denotes a non-income producing security.
 
(a)   Represents 7-day effective yield as of July 31, 2010.
 
(b)   At July 31, 2010, the tax basis cost of the Fund’s investments was $39,009,077, tax unrealized appreciation and depreciation were $4,049,737 and $(6,724,549), respectively.
     
Ltd.
  Limited
 
NA
  National Association
 
PLC
  Public Limited Company
 
SA
  Stock Company
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

13

 

In accordance with the authorative guidance on fair value measurements and disclosures under GAAP, the Fund discloses the fair value of its investments in a hierarchy that prioritizes the inputs to valuation techniques used to measure the fair value. This standard defines fair value, sets out a framework for measuring fair value and expands disclosures about fair value measurements. The hierarchy gives the highest priority to readily available unadjusted quoted prices in active markets for identical assets (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements) when market prices are not readily available or reliable. The three levels of the hierarchy established are summarized below:
Level 1:   Quoted prices in active markets for identical assets.
Level 2:   Other significant observable inputs (including quoted prices of similar securities, interest rates, prepayment speeds, credit risk, etc).
Level 3:   Significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments).
Changes in valuation techniques may result in transfers in or out of an investment’s assigned level within the hierarchy.

The inputs or methodology used to value securities and other investments are not intended to indicate the risk associated with investing in those securities and investments.
The following is a summary of the inputs used to value the Fund’s net assets as of July 31, 2010:
                                 
Asset Type*   Level 1   Level 2   Level 3   Total
 
Assets:
                                
Common Stocks
   $ 36,019,384     $ —     $ —     $ 36,019,384  
Mutual Fund
     314,878       —       —       314,878  
Right
     3       —       —       3  
 
Total
   $ 36,334,265     $ —     $ —     $ 36,334,265  
 
 
*   See Statement of Investments for identification of securities by type and industry classification.
                                 
    Common Stocks   Corporate Bonds   Warrants   Total
 
Balance as of 10/31/09
   $ —     $ —     $ —     $ —  
 
Accrued Accretion/(Amortization)
     —       —       —       —  
 
Change in Unrealized Appreciation/(Depreciation)
     —       —       —       —  
 
Net Purchases/(Sales)
     —       —       —       —  
 
Transfers Into Level 3
     —       —       —       —  
 
Transfers Out of Level 3
     —       —       —       —  
 
Balance as of 7/31/10
   $ —     $ —     $ —     $ —  
 
Amounts designated as “—” are zero or have been rounded to zero.
For the period ended July 31, 2010 there were no significant transfers between Levels 1 and 2.
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

14

 

Statement of Investments
July 31, 2010 (Unaudited)
Nationwide Value Fund
Common Stocks 95.5%
                 
            Market  
    Shares     Value  
 
Aerospace & Defense 4.8%
                
Raytheon Co.
     555     $ 25,680  
United Technologies Corp.
     1,030       73,233  
 
              
 
             98,913  
 
              
Beverages 3.1%
                
PepsiCo, Inc.
     980       63,612  
 
              
Capital Markets 1.2%
                
Bank of New York Mellon Corp. (The)
     995       24,945  
 
              
Chemicals 2.1%
                
Air Products & Chemicals, Inc.
     590       42,822  
 
              
Commercial Banks 4.5%
                
SunTrust Banks, Inc.
     410       10,640  
U.S. Bancorp
     1,285       30,711  
Wells Fargo & Co.
     1,880       52,132  
 
              
 
             93,483  
 
              
Communications Equipment 0.8%
                
Cisco Systems, Inc.*
     760       17,533  
 
              
Computers & Peripherals 1.4%
                
Dell, Inc.*
     2,235       29,591  
 
              
Construction & Engineering 1.1%
                
Fluor Corp.
     470       22,696  
 
              
Diversified Financial Services 2.7%
                
JPMorgan Chase & Co.
     1,370       55,184  
 
              
Food & Staples Retailing 4.1%
                
Sysco Corp.
     1,410       43,668  
Wal-Mart Stores, Inc.
     780       39,928  
 
              
 
             83,596  
 
              
Food Products 3.9%
                
ConAgra Foods, Inc.
     1,670       39,212  
General Mills, Inc.
     1,170       40,014  
 
              
 
             79,226  
 
              
Health Care Equipment & Supplies 4.6%
                
Baxter International, Inc.
     715       31,296  
Medtronic, Inc.
     1,720       63,588  
 
              
 
             94,884  
 
              
Health Care Providers & Services 3.3%
                
Quest Diagnostics, Inc.
     595       27,959  
UnitedHealth Group, Inc.
     1,280       38,976  
 
              
 
             66,935  
 
              
Hotels, Restaurants & Leisure 2.1%
                
McDonald’s Corp.
     630       43,930  
 
              
Household Products 5.2%
                
Kimberly-Clark Corp.
     705       45,205  
Procter & Gamble Co. (The)
     1,000       61,160  
 
              
 
             106,365  
 
              
Industrial Conglomerates 2.1%
                
3M Co.
     500       42,770  
 
              
Information Technology Services 0.8%
                
Alliance Data Systems Corp.*
     280       16,094  
 
              
Insurance 7.2%
                
Allstate Corp. (The)
     615       17,368  
Marsh & McLennan Cos., Inc.
     1,320       31,046  
Prudential Financial, Inc.
     805       46,118  
Travelers Cos., Inc. (The)
     1,040       52,468  
 
              
 
             147,000  
 
              
Machinery 5.9%
                
Dover Corp.
     870       41,734  
Illinois Tool Works, Inc.
     850       36,975  
Parker Hannifin Corp.
     690       42,863  
 
              
 
             121,572  
 
              
Multi-Utilities 2.6%
                
Dominion Resources, Inc.
     1,285       53,957  
 
              
Oil, Gas & Consumable Fuels 16.8%
                
Anadarko Petroleum Corp.
     1,295       63,662  
Apache Corp.
     895       85,544  
Devon Energy Corp.
     1,195       74,676  
Exxon Mobil Corp.
     665       39,687  
Occidental Petroleum Corp.
     1,037       80,813  
 
              
 
             344,382  
 
              
Pharmaceuticals 10.5%
                
Abbott Laboratories
     1,140       55,951  
Johnson & Johnson
     820       47,634  
Merck & Co., Inc.
     1,630       56,170  
Pfizer, Inc.
     3,680       55,200  
 
              
 
             214,955  
 
              
Semiconductors & Semiconductor Equipment 2.5%
                
KLA-Tencor Corp.
     1,640       51,939  
 
              
Software 2.2%
                
Microsoft Corp.
     1,760       45,426  
 
              
Total Common Stocks
(cost $1,892,782)
             1,961,810  
 
              
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

1

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide Value Fund
Mutual Fund 3.0%
                 
            Market  
    Shares     Value  
 
Money Market Fund 3.0%
                
Invesco Liquid Assets Portfolio - Institutional Class, 0.26% (a)
     61,148     $ 61,148  
 
              
 
                
Total Mutual Fund
(cost $61,148)
             61,148  
 
              
Total Investments
                
(cost $1,953,930) (b) — 98.5%
             2,022,958  
 
                
Other assets in excess of liabilities — 1.5%
             31,053  
 
              
 
                
NET ASSETS — 100.0%
           $ 2,054,011  
 
              
 
*   Denotes a non-income producing security.
 
(a)   Represents 7-day effective yield as of July 31, 2010.
 
(b)   At July 31, 2010, the tax basis cost of the Fund’s investments was $1,973,192, tax unrealized appreciation and depreciation were $135,182 and $(85,416), respectively.
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

2

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide Value Fund
In accordance with the authorative guidance on fair value measurements and disclosures under GAAP, the Fund discloses the fair value of its investments in a hierarchy that prioritizes the inputs to valuation techniques used to measure the fair value. This standard defines fair value, sets out a framework for measuring fair value and expands disclosures about fair value measurements. The hierarchy gives the highest priority to readily available unadjusted quoted prices in active markets for identical assets (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements) when market prices are not readily available or reliable. The three levels of the hierarchy established are summarized below:
Level 1:   Quoted prices in active markets for identical assets.
Level 2:   Other significant observable inputs (including quoted prices of similar securities, interest rates, prepayment speeds, credit risk, etc).
Level 3:   Significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments).
Changes in valuation techniques may result in transfers in or out of an investment’s assigned level within the hierarchy.
The inputs or methodology used to value securities and other investments are not intended to indicate the risk associated with investing in those securities and investments.
The following is a summary of the inputs used to value the Fund’s net assets as of July 31, 2010:
                                 
Asset Type*   Level 1   Level 2   Level 3   Total
 
Assets:
                                
Common Stocks
   $ 1,961,810     $ —     $ —     $ 1,961,810  
Mutual Fund
     61,148       —       —       61,148  
 
Total
   $ 2,022,958     $ —     $ —     $ 2,022,958  
 
Amounts designated as “—” are zero or have been rounded to zero.
 
*   See Statement of Investments for identification of securities by type and industry classification.
For the period ended July 31, 2010 there were no significant transfers between Levels 1 and 2.
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

3

 

Statement of Investments
July 31, 2010 (Unaudited)
Nationwide Bond Fund

Asset-Backed Securities 1.9%
                 
    Principal     Market  
    Amount     Value  
 
Other 1.9%
                
Chase Funding Mortgage Loan Asset-Backed Certificates, Series 2001-4, Class 1A6, 6.24%, 01/25/13(a)
   $ 481,233     $ 466,152  
Residential Asset Mortgage Products, Inc., Series 2002-RS1, Class AI5, 5.91%, 01/25/32(a)
     565,613       472,044  
Structured Asset Securities Corp., Series 2004-6XS, Class A6, 4.63%, 03/25/34(b)
     761,856       738,152  
 
              
Total Asset-Backed Securities
(cost $1,808,678)
             1,676,348  
 
              
Collateralized Mortgage Obligations 20.4%
                 
    Principal     Market  
    Amount     Value  
 
ABN Amro Mortgage Corp., Series 2003-8, Class A23, 5.50%, 06/25/33
     801,669       781,486  
American Home Mortgage Investment Trust, Series 2004-3, Class 6A1, 4.82%, 10/25/34(b)
     819,128       786,381  
Countrywide Alternative Loan Trust, Series 2007-2CB, Class 2A14, 5.75%, 03/25/37
     998,695       743,108  
Countrywide Home Loan Mortgage Pass Through Trust, Series 2005-15, Class A7, 5.50%, 08/25/35
     980,377       830,289  
Fannie Mae REMICS
                
Series 2003-33, Class LB, 5.50%, 05/25/23
     2,000,000       2,273,570  
Series 2009-42, Class AP, 4.50%, 03/25/39
     4,733,971       4,989,874  
Government National Mortgage Association, Series 2010-61, Class PC, 4.50%, 02/20/37
     6,000,000       6,531,171  
MASTR Alternative Loans Trust, Series 2005-6, Class 1A5, 5.50%, 12/25/35
     1,000,000       756,967  
Residential Funding Securities LLC, Series 2003-RM2, Class AI3, 4.50%, 05/25/33
     742,284       736,171  
 
              
Total Collateralized Mortgage Obligations
(cost $18,480,785)
             18,429,017  
 
              
Commercial Mortgage Backed Securities 5.6%
                 
    Principal     Market  
    Amount     Value  
 
Credit Suisse Mortgage Capital Certificates, Series 2007-C5, Class A3 5.69%, 09/15/40(a)
   $ 1,000,000     $ 1,033,184  
CS First Boston Mortgage Securities Corp., Series 2002-CP5, Class A2 4.94%, 12/15/35
     955,000       1,011,040  
Greenwich Capital Commercial Funding Corp., Series 2007-GG11, Class A3 5.72%, 12/10/49
     1,000,000       1,058,768  
LB-UBS Commercial Mortgage Trust, Series 2005-C7, Class A3 5.47%, 11/15/30(a)
     1,000,000       1,054,668  
Merrill Lynch Mortgage Trust, Series 2005-CIP1, Class AM 5.11%, 07/12/38(a)
     1,000,000       944,706  
 
              
Total Commercial Mortgage Backed Securities
(cost $4,855,853)
             5,102,366  
 
              
Corporate Bonds 34.8%
                 
    Principal     Market  
    Amount     Value  
 
Air Freight & Logistics 1.1%
                
Federal Express Corp. 1993 Pass Through Trust, Series B2, 7.63%, 01/01/15
     898,072       963,416  
 
              
Airlines 0.9%
                
Continental Airlines Pass Through Trust, Series 1997-4, Class B, 6.90%, 01/02/17
     855,501       812,726  
 
              
Beverages 1.4%
                
Anheuser-Busch InBev Worldwide, Inc., 7.75%, 01/15/19(c)
     1,000,000       1,245,391  
 
              
Capital Markets 1.2%
                
Xstrata Finance Canada Ltd., 6.90%, 11/15/37(c)
     1,000,000       1,060,358  
 
              
Chemicals 0.9%
                
Mosaic Global Holdings, Inc., 7.30%, 01/15/28
     750,000       856,472  
 
              
Commercial Banks 0.9%
                
HSBC Holdings PLC, 6.80%, 06/01/38
     750,000       838,304  
 
              
Communications Equipment 0.9%
                
Motorola, Inc., 6.50%, 09/01/25
     750,000       792,402  
 
              
Computers & Peripherals 1.0%
                
Digital Equipment Corp., 7.75%, 04/01/23
     825,000       950,874  
 
              
Diversified Financial Services 5.3%
                
Bank of America NA, 6.10%, 06/15/17
     1,000,000       1,064,773  
Citigroup, Inc., 8.13%, 07/15/39
     750,000       912,572  
JPMorgan Chase & Co., 5.25%, 05/01/15
     1,000,000       1,082,722  
JPMorgan Chase & Co., Series 1, 7.90%, 04/30/18(d)
     1,000,000       1,044,620  
National Rural Utilities Cooperative Finance Corp., 10.38%, 11/01/18
     500,000       704,288  
 
              
 
             4,808,975  
 
              
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

1

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide Bond Fund
Corporate Bonds (continued)
                 
    Principal     Market  
    Amount     Value  
 
Diversified Telecommunication Services 1.1%
                
Qwest Corp., 6.88%, 09/15/33
   $ 1,000,000     $ 962,500  
 
              
Electric Utilities 0.9%
                
Nisource Finance Corp., 6.13%, 03/01/22
     750,000       825,518  
 
              
Energy Equipment & Services 2.1%
                
Diamond Offshore Drilling, Inc., 5.88%, 05/01/19
     700,000       773,668  
Weatherford International, Inc., 6.35%, 06/15/17
     1,000,000       1,091,979  
 
              
 
             1,865,647  
 
              
Food & Staples Retailing 1.1%
                
CVS Pass-Through Trust, 6.94%, 01/10/30
     947,642       1,040,672  
 
              
Health Care Equipment & Supplies 1.3%
                
Covidien International Finance SA, 6.00%, 10/15/17
     1,000,000       1,169,079  
 
              
Health Care Providers & Services 1.1%
                
Quest Diagnostics, Inc., 5.13%, 11/01/10
     1,000,000       1,008,469  
 
              
Industrial Conglomerates 1.2%
                
General Electric Co., 5.25%, 12/06/17
     1,000,000       1,102,314  
 
              
Insurance 3.4%
                
Liberty Mutual Group, Inc., 7.30%, 06/15/14(c)
     1,000,000       1,093,318  
Oil Insurance Ltd., 7.56%, 06/30/11(c)(d)
     1,000,000       863,310  
Principal Life Income Funding Trusts, 5.30%, 12/14/12
     1,000,000       1,077,450  
 
              
 
             3,034,078  
 
              
Machinery 1.5%
                
Eaton Corp., 8.88%, 06/15/19
     1,000,000       1,328,919  
 
              
Media 2.5%
                
Comcast Cable Holdings LLC, 9.80%, 02/01/12
     1,000,000       1,120,166  
Time Warner Cable, Inc., 6.75%, 07/01/18
     1,000,000       1,168,059  
 
              
 
             2,288,225  
 
              
Metals & Mining 2.1%
                
Rio Tinto Finance USA Ltd., 5.88%, 07/15/13
     1,000,000       1,111,419  
Teck Resources Ltd., 9.75%, 05/15/14
     650,000       790,129  
 
              
 
             1,901,548  
 
              
Oil, Gas & Consumable Fuels 0.9%
                
Energy Transfer Partners LP, 6.70%, 07/01/18
     750,000       827,480  
 
              
Paper & Forest Products 0.9%
                
Stora Enso Oyj, 7.25%, 04/15/36(c)
     1,000,000       800,000  
 
              
Real Estate Investment Trusts (REITs) 1.1%
                
Highwoods Realty LP, 5.85%, 03/15/17
     1,000,000       1,005,967  
 
              
Total Corporate Bonds
(cost $29,106,958)
             31,489,334  
 
              
Municipal Bond 0.7%
                 
    Principal     Market  
    Amount     Value  
 
Iowa 0.7%
                
Tobacco Settlement Authority, Series A, 6.50%, 06/01/23
     735,000       632,703  
 
              
Total Municipal Bond
(cost $735,000)
             632,703  
 
              
U.S. Government Mortgage Backed Agencies 8.5%
                 
    Principal     Market  
    Amount     Value  
 
Fannie Mae Pool Pool# 383661 6.62%, 06/01/16
     1,750,883       2,009,475  
Pool# 386905 5.00%, 04/01/19
     903,286       994,440  
Pool# AA6943 4.50%, 05/01/39
     2,755,697       2,885,449  
Freddie Mac Gold Pool Pool# E01443,3.50%, 07/01/18
   $ 1,802,096     $ 1,831,110  
 
              
Total U.S. Government Mortgage Backed Agencies
(cost $7,173,697)
             7,720,474  
 
              
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

2

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide Bond Fund
Sovereign Bond 0.6%
                 
    Principal     Market  
    Amount     Value  
 
ISRAEL 0.6%
                
Israel Government AID Bond, 0.00%, 05/15/24
     1,000,000       553,639  
 
              
Total Sovereign Bond
(cost $467,611)
             553,639  
 
              
 
              
U.S. Government Sponsored & Agency Obligation 4.5%
                 
    Principal     Market  
    Amount     Value  
 
Federal Home Loan Mortgage Corp. 1.00%, 08/28/12
     4,000,000       4,023,340  
 
              
Total U.S. Government Sponsored & Agency Obligation
(cost $4,014,691)
             4,023,340  
 
              
U.S. Treasury Bonds 6.6%
                 
    Principal     Market  
    Amount     Value  
 
U.S. Treasury Inflation Indexed Bond
                
2.00%, 01/15/14
     3,000,000       3,779,510  
2.13%, 01/15/19
     2,000,000       2,222,621  
 
              
Total U.S. Treasury Bonds
(cost $5,871,866)
             6,002,131  
 
              
U.S. Treasury Notes 10.5%
                 
    Principal     Market  
    Amount     Value  
 
U.S. Treasury Note
                
3.25%, 05/31/16
     4,000,000       4,285,936  
4.88%, 08/15/16
     4,500,000       5,244,961  
 
              
Total U.S. Treasury Notes
(cost $8,874,171)
             9,530,897  
 
              
Yankee Dollar 0.8%
                 
    Principal     Market  
    Amount     Value  
 
Energy Equipment & Services 0.8%
                
Noble Holding International Ltd., 4.90%, 08/01/20
   $ 700,000     $ 731,678  
 
              
Total Yankee Dollar
(cost $698,077)
             731,678  
 
              
Mutual Fund 4.1%
                 
            Market  
    Shares     Value  
 
Money Market Fund 4.1%
                
Invesco Liquid Assets Portfolio - Institutional Class, 0.26% (e)
     3,724,507       3,724,507  
 
              
Total Mutual Fund
(cost $3,724,507)
             3,724,507  
 
              
 
                
Total Investments
(cost $85,811,894) (f) — 99.0%
             89,616,434  
 
              
 
                
Other assets in excess of liabilities — 1.0%
             911,994  
 
              
 
                
NET ASSETS — 100.0%
           $ 90,528,428  
 
              
 
(a)   Variable Rate Security. The rate reflected in the Statement of Investments is the rate in effect on July 31, 2010. The maturity date represents the actual maturity date.
 
(b)   Step Bond. Coupon rate is set for an initial period and then increases to a higher coupon rate at a specific date. The rate shown is the rate at July 31, 2010.
 
(c)   Rule 144A, Section 4(2), or other security which is restricted as to sale to institutional investors. These securities were deemed liquid pursuant to procedures approved by the Board of Trustees. The aggregate value of these securities at July 31, 2010 was $5,062,377 which represents 5.59% of net assets.
 
(d)   Variable Rate and Perpetual Bond Security. The rate reflected in the Statement of Investments is the rate in effect on July 31, 2010. The maturity date reflects the next call date.
 
(e)   Represents 7-day effective yield as of July 31, 2010.
 
(f)   At July 31, 2010, the tax basis cost of the Fund’s investments was $85,811,894, tax unrealized appreciation and depreciation were $4,951,747 and $(1,147,207), respectively.
     
LLC
  Limited Liability Company
 
LP
  Limited Partnership
 
Ltd.
  Limited
 
NA
  National Association
 
PLC
  Public Limited Company
 
REMICS
  Real Estate Mortgage Investment Conduits
 
SA
  Stock Company
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

3

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide Bond Fund
In accordance with the authorative guidance on fair value measurements and disclosures under GAAP, the Fund discloses the fair value of its investments in a hierarchy that prioritizes the inputs to valuation techniques used to measure the fair value. This standard defines fair value, sets out a framework for measuring fair value and expands disclosures about fair value measurements. The hierarchy gives the highest priority to readily available unadjusted quoted prices in active markets for identical assets (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements) when market prices are not readily available or reliable. The three levels of the hierarchy established are summarized below:
Level 1:   Quoted prices in active markets for identical assets.
Level 2:   Other significant observable inputs (including quoted prices of similar securities, interest rates, prepayment speeds, credit risk, etc).
Level 3:   Significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments).
Changes in valuation techniques may result in transfers in or out of an investment’s assigned level within the hierarchy.
The inputs or methodology used to value securities and other investments are not intended to indicate the risk associated with investing in those securities and investments.
The following is a summary of the inputs used to value the Fund’s net assets as of July 31, 2010:
                                 
Asset Type*   Level 1   Level 2   Level 3   Total
 
Assets:
                                
Asset-Backed Securities
   $ —     $ 1,676,348     $ —     $ 1,676,348  
Collateralized Mortgage Obligations
     —       18,429,017       —       18,429,017  
Commercial Mortgage Backed Securities
     —       5,102,366       —       5,102,366  
Corporate Bonds
     —       31,489,334       —       31,489,334  
Municipal Bond
     —       632,703       —       632,703  
Mutual Fund
     3,724,507       —       —       3,724,507  
Sovereign Bond
     —       553,639       —       553,639  
U.S. Government Mortgage Backed Agencies
     —       7,720,474       —       7,720,474  
U.S. Government Sponsored & Agency Obligation
     —       4,023,340       —       4,023,340  
U.S. Treasury Bonds
     —       6,002,131       —       6,002,131  
U.S. Treasury Notes
     —       9,530,897       —       9,530,897  
Yankee Dollar
     —       731,678       —       731,678  
 
Total
   $ 3,724,507     $ 85,891,927     $ —     $ 89,616,434  
 
Amounts designated as “—” are zero or have been rounded to zero.
 
*   See Statement of Investments for identification of securities by type and industry classification.
For the period ended July 31, 2010 there were no significant transfers between Levels 1 and 2.
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

4

 

Statement of Investments
July 31, 2010 (Unaudited)
Nationwide Enhanced Income Fund
Asset-Backed Securities 29.7%
                 
    Principal     Market  
    Amount     Value  
 
Automobile 13.2%
                
Ally Auto Receivables Trust
                
Series 2010-1, Class A2, 0.75%, 04/15/12
   $ 1,600,000     $ 1,600,859  
Series 2010-2, Class A2, 0.89%, 09/17/12
     2,000,000       2,004,584  
Bank of America Auto Trust
                
Series 2009-3A, Class A2, 0.89%, 04/15/12(a)
     1,790,126       1,791,985  
Series 2010-1A, Class A2, 0.75%, 06/15/12(a)
     2,000,000       2,001,820  
BMW Vehicle Owner Trust, Series 2010-A, Class A2, 0.68%, 09/25/12
     2,000,000       2,001,793  
Capital Auto Receivables Asset Trust, Series 2007-1, Class A4A, 5.01%, 04/16/12
     2,028,522       2,071,374  
Ford Credit Auto Owner Trust, Series 2010-B, Class A2, 0.65%, 12/15/12
     1,200,000       1,199,987  
Honda Auto Receivables Owner Trust
                
Series 2009-2, Class A2, 2.22%, 08/15/11
     716,003       717,514  
Series 2010-1, Class A2, 0.62%, 02/21/12
     2,500,000       2,501,365  
Hyundai Auto Receivables Trust, Series 2010-A, Class A2, 0.86%, 11/15/12
     2,500,000       2,504,919  
Nissan Auto Receivables Owner Trust, Series 2008-A, Class A3, 3.89%, 08/15/11
     213,553       214,113  
Toyota Auto Receivables Owner Trust
                
Series 2010-A, Class A2, 0.75%, 05/15/12
     2,500,000       2,502,615  
Series 2010-A, Class A3, 1.27%, 12/16/13
     750,000       755,180  
Series 2010-B, Class A2, 0.74%, 07/16/12
     1,250,000       1,251,806  
USAA Auto Owner Trust, Series 2009-2, Class A3, 1.54%, 02/18/14
     2,000,000       2,018,265  
Volkswagen Auto Loan Enhanced Trust
                
Series 2008-1, Class A3, 4.50%, 07/20/12
     1,158,579       1,174,574  
Series 2010-1, Class A2, 0.66%, 05/21/12
     2,000,000       2,000,998  
World Omni Auto Receivables Trust
                
Series 2009-A, Class A3, 3.33%, 05/15/13
     2,000,000       2,040,696  
Series 2010-A, Class A2, 0.70%, 06/15/12
     2,000,000       2,000,782  
 
              
 
             32,355,229  
 
              
Credit Card 8.9%
                
American Express Credit Account Master Trust
                
Series 2006-2, Class A, 5.35%, 01/15/14
     2,000,000       2,082,559  
Series 2007-5, Class A, 0.37%, 12/15/14(b)
     2,000,000       1,993,053  
BA Credit Card Trust, Series 2006-A16, Class A16, 4.72%, 05/15/13
     1,410,000       1,432,351  
Capital One Multi-Asset Execution Trust
                
Series 2006-A2, Class A, 4.85%, 11/15/13
     2,000,000       2,038,925  
Series 2008-A5, Class A5, 4.85%, 02/18/14
     2,910,000       2,996,032  
Chase Issuance Trust
                
Series 2005-A10, Class A10, 4.65%, 12/17/12
     1,230,000       1,240,772  
Series 2006-A1, Class A, 0.38%, 04/15/13(b)
     1,997,000       1,996,342  
Series 2007-A15, Class A, 4.96%, 09/17/12
     2,500,000       2,514,022  
Citibank Credit Card Issuance Trust
                
Series 2005-A7, Class A7, 4.75%, 10/22/12
     2,000,000       2,018,783  
Series 2009-A3, Class A3, 2.70%, 06/24/13
     1,830,000       1,863,239  
MBNA Credit Card Master Note Trust, Series 2004-A2, Class A2, 0.49%, 07/15/13(b)
     1,696,000       1,695,950  
 
              
 
             21,872,028  
 
              
Other 7.6%
                
CenterPoint Energy Transition Bond Co. LLC, Series 2005-A, Class A2, 4.97%, 08/01/14
     2,898,165       3,014,643  
FPL Recovery Funding LLC, Series 2007-A, Class A1, 5.05%, 02/01/13
     455,868       457,299  
John Deere Owner Trust
                
Series 2008-A, Class A4, 4.89%, 03/16/15
     2,500,000       2,607,043  
Series 2009-B, Class A3, 1.57%, 10/15/13
     800,000       807,238  
Series 2010-A, Class A2, 0.72%, 07/16/12
     2,500,000       2,502,591  
Massachusetts RRB Special Purpose Trust, Series 2005-1, Class A3, 4.13%, 09/15/13
     1,420,696       1,448,950  
Massachusetts RRB Special Purpose Trust WMECO-1, Series 2001-1, Class A, 6.53%, 06/01/15
     1,150,940       1,250,049  
Peco Energy Transition Trust, Series 2001-A, Class A1, 6.52%, 12/31/10
     1,153,008       1,159,031  
PG&E Energy Recovery Funding LLC, Series 2005-2, Class A2, 5.03%, 03/25/14
     2,440,461       2,534,201  
PSE&G Transition Funding LLC, Series 2001-1, Class A5, 6.45%, 03/15/13*
     891,674       911,458  
Volvo Financial Equipment LLC, Series 2010-1A, Class A2, 1.06%, 06/15/12(a)
     1,800,000       1,803,877  
 
              
 
             18,496,380  
 
              
Total Asset-Backed Securities
(cost $72,685,831)
             72,723,637  
 
              
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

1

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide Enhanced Income Fund
Collateralized Mortgage Obligations 23.8%
                 
    Principal     Market  
    Amount     Value  
 
Fannie Mae REMICS
                
Series 2002-82, Class XD, 5.00%, 07/25/16
   $ 604,636     $ 613,524  
Series 2003-122, Class OK, 4.00%, 06/25/17
     1,000,000       1,041,054  
Series 2003-14, Class AN, 3.50%, 03/25/33
     181,500       190,041  
Series 2003-15, Class WC, 4.00%, 12/25/16
     681,493       690,342  
Series 2003-49, Class TK, 3.50%, 03/25/18
     1,525,682       1,586,659  
Series 2003-57, Class NB, 3.00%, 06/25/18
     180,056       185,340  
Series 2003-67, Class TA, 3.00%, 08/25/17
     1,266,434       1,296,470  
Series 2003-75, Class NB, 3.25%, 08/25/18
     99,505       100,593  
Series 2004-29, Class L, 4.00%, 09/25/17
     852,810       880,498  
Series 2004-32, Class AB, 4.00%, 10/25/17
     786,408       814,147  
Series 2004-6, Class CA, 4.00%, 06/25/17
     1,241,002       1,282,860  
Series 2004-61, Class AB, 5.00%, 03/25/17
     229,009       229,762  
Series 2004-96, Class EW, 4.50%, 06/25/24
     374,203       374,917  
Series 2005-91, Class PB, 4.50%, 06/25/16
     140,894       141,114  
Series 2008-15, Class JM, 4.00%, 02/25/19
     767,674       803,192  
Series 2008-18, Class MD, 4.00%, 03/25/19
     1,622,976       1,714,586  
Series 2009-44, Class A, 4.50%, 12/25/23
     1,292,924       1,372,698  
Series 2009-76, Class MA, 4.00%, 09/25/24
     5,266,474       5,565,499  
Series 2009-88, Class EA, 4.50%, 05/25/23
     1,952,405       2,044,655  
Freddie Mac REMICS
                
Series 2517, Class OD, 5.00%, 05/15/16
     149,259       149,496  
Series 2555, Class B, 4.25%, 01/15/18
     1,189,395       1,264,371  
Series 2611, Class KC, 3.50%, 01/15/17
     125,983       127,620  
Series 2613, Class PA, 3.25%, 05/15/18
     1,053,364       1,082,009  
Series 2614, Class TD, 3.50%, 05/15/16
     1,087,566       1,107,467  
Series 2625, Class JD, 3.25%, 07/15/17
     612,597       628,281  
Series 2628, Class DQ, 3.00%, 11/15/17
     1,873,544       1,926,784  
Series 2628, Class GQ, 3.14%, 11/15/17
     2,341,930       2,413,283  
Series 2628, Class PV, 3.75%, 10/15/16
     132,609       133,050  
Series 2628, Class PX, 4.00%, 10/15/16
     198,913       199,609  
Series 2629, Class AM, 4.00%, 01/15/18
     1,019,091       1,067,565  
Series 2629, Class AN, 3.50%, 01/15/18
     1,981,566       2,058,557  
Series 2630, Class JA, 3.00%, 06/15/18
     80,663       81,136  
Series 2630, Class KS, 4.00%, 01/15/17
     2,557,023       2,640,379  
Series 2633, Class PD, 4.50%, 08/15/16
     1,405,000       1,453,937  
Series 2640, Class GD, 4.50%, 08/15/17
     2,000,000       2,083,414  
Series 2643, Class NT, 4.50%, 03/15/18
     2,042,456       2,162,748  
Series 2664, Class GA, 4.50%, 01/15/18
     166,606       170,362  
Series 2668, Class AD, 4.00%, 01/15/15
     141,874       142,122  
Series 2672, Class NF, 4.00%, 12/15/16
     1,440,841       1,485,203  
Series 2689, Class PC, 4.00%, 09/15/15
     529,201       532,860  
Series 2783, Class AB, 4.00%, 10/15/17
     848,836       879,828  
Series 2877, Class GP, 4.00%, 11/15/18
     1,087,485       1,127,859  
Series 3110, Class AG, 5.00%, 03/15/19
     973,463       1,004,901  
Series 3483, Class FB, 0.48%, 08/15/11(b)
     268,274       268,222  
Series 3555, Class JA, 4.00%, 12/15/14
     1,410,418       1,465,391  
Series 3573, Class LC, 1.85%, 08/15/14
     1,415,452       1,432,840  
Series 3574, Class AC, 1.85%, 08/15/14
     1,796,180       1,818,330  
Series 3584, Class BL, 1.25%, 10/15/12
     1,287,660       1,298,973  
Series 3591, Class NA, 1.25%, 10/15/12
     1,346,946       1,340,629  
Series 3610, Class AB, 1.40%, 12/15/14
     799,188       805,931  
Series 3612, Class AE, 1.40%, 12/15/14
     1,317,115       1,328,957  
Ginnie Mae
                
Series 2003-49, Class A, 2.21%, 10/16/17
     1,343,751       1,347,741  
Series 2004-103, Class A, 3.88%, 12/16/19
     127,070       127,043  
 
              
Total Collateralized Mortgage Obligations
(cost $57,610,890)
             58,084,849  
 
              
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

2

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide Enhanced Income Fund
Commercial Mortgage Backed Securities 2.8%
                 
    Principal     Market  
    Amount     Value  
 
Banc of America Commercial Mortgage, Inc., Series 2005-1, Class A3 4.88%, 11/10/42
   $ 960,380     $ 968,335  
Commercial Mortgage Asset Trust, Series 1999-C1, Class A3 6.64%, 01/17/32
     266,795       267,001  
GE Capital Commercial Mortgage Corp., Series 2004-C1, Class A2 3.92%, 11/10/38
     1,074,751       1,079,857  
GMAC Commercial Mortgage Securities, Inc., Series 2004-C3, Class A3 4.21%, 12/10/41
     403,020       404,386  
Greenwich Capital Commercial Funding Corp., Series 2004-GG1, Class A4 4.76%, 06/10/36
     532,683       536,891  
JP Morgan Chase Commercial Mortgage Securities Corp., Series 2006-CB16, Class A1 5.34%, 05/12/45
     335,440       337,805  
LB-UBS Commercial Mortgage Trust, Series 2002-C7, Class A3 4.66%, 12/15/26
     966,928       1,001,570  
Morgan Stanley Capital I, Series 2004-IQ8, Class A3 4.50%, 06/15/40
     525,059       529,797  
Wachovia Bank Commercial Mortgage Trust
                
Series 2005-C16, Class A2, 4.38%, 10/15/41
     677,477       693,431  
Series 2005-C17, Class A2, 4.78%, 03/15/42
     975,980       977,681  
 
              
Total Commercial Mortgage Backed Securities
(cost $6,704,276)
             6,796,754  
 
              
Corporate Bonds 29.4%
                 
    Principal     Market  
    Amount     Value  
 
Aerospace & Defense 2.1%
                
General Dynamics Corp., 1.80%, 07/15/11
   $ 2,500,000     $ 2,526,865  
Honeywell International, Inc., 6.13%, 11/01/11
     2,500,000       2,659,532  
 
              
 
                
 
             5,186,397  
 
              
 
                
Capital Markets 3.3%
                
Bank of New York Mellon Corp. (The), 4.95%, 01/14/11
     2,000,000       2,039,622  
Goldman Sachs Group, Inc. (The), 1.63%, 07/15/11
     2,000,000       2,023,712  
Morgan Stanley, 2.90%, 12/01/10
     2,000,000       2,017,432  
State Street Bank and Trust Co., 1.85%, 03/15/11
     2,000,000       2,019,622  
 
              
 
                
 
             8,100,388  
 
              
 
                
Commercial Banks 3.9%
                
BNP Paribas, 0.93%, 04/08/13(b)
     2,500,000       2,467,713  
Rabobank Nederland NV, 0.55%, 08/05/11(a)(b)
     2,500,000       2,498,213  
Wells Fargo & Co., 3.00%, 12/09/11
     2,000,000       2,068,770  
Westpac Banking Corp., 1.08%, 04/08/13(a)(b)
     2,500,000       2,479,537  
 
              
 
                
 
             9,514,233  
 
              
 
                
Communications Equipment 0.8%
                
Cisco Systems, Inc., 5.25%, 02/22/11
     2,000,000       2,049,992  
 
              
 
                
Computers & Peripherals 0.8%
                
Hewlett-Packard Co.
                
1.59%, 05/27/11(b)
     300,000       302,735  
2.25%, 05/27/11
     1,500,000       1,521,249  
 
              
 
                
 
             1,823,984  
 
              
 
                
Consumer Finance 1.0%
                
American Express Credit Corp., 0.53%, 12/02/10(b)
     1,426,000       1,426,280  
John Deere Capital Corp., 7.00%, 03/15/12
     900,000       986,405  
 
              
 
                
 
             2,412,685  
 
              
 
                
Diversified Financial Services 10.0%
                
AEP Texas Central Transition Funding LLC, Series A-2, 4.98%, 07/01/13
     2,244,914       2,387,625  
Bank of America Corp., 5.38%, 08/15/11
     2,000,000       2,084,758  
Bank of America NA, 1.70%, 12/23/10
     2,000,000       2,011,604  
Citigroup, Inc., 2.13%, 04/30/12
     2,500,000       2,562,967  
General Electric Capital Corp.
                
1.80%, 03/11/11
     2,000,000       2,019,126  
5.00%, 11/15/11
     2,500,000       2,621,128  
HSBC Finance Corp., 6.38%, 10/15/11
     1,875,000       1,974,328  
JPMorgan Chase & Co.
                
2.63%, 12/01/10
     2,000,000       2,015,844  
5.60%, 06/01/11
     2,020,000       2,103,943  
National Rural Utilities Cooperative Finance Corp., 4.38%, 10/01/10
     2,000,000       2,011,252  
Western Union Co. (The), 5.40%, 11/17/11
     2,500,000       2,626,323  
 
              
 
                
 
             24,418,898  
 
              
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

3

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide Enhanced Income Fund
Corporate Bonds (continued)
                 
    Principal     Market  
    Amount     Value  
 
Diversified Telecommunication Services 0.8%
                
AT&T Corp., 7.30%, 11/15/11
   $ 1,793,000     $ 1,935,033  
 
              
 
                
Food & Staples Retailing 0.7%
                
Costco Wholesale Corp., 5.30%, 03/15/12
     1,600,000       1,711,517  
 
              
 
                
Food Products 0.8%
                
Unilever Capital Corp., 7.13%, 11/01/10
     2,000,000       2,033,312  
 
              
 
                
Industrial Conglomerates 1.1%
                
3M Co., 4.50%, 11/01/11
     2,600,000       2,717,400  
 
              
 
                
Insurance 1.5%
                
Berkshire Hathaway, Inc., 1.40%, 02/10/12
     2,500,000       2,518,635  
New York Life Global Funding, 4.63%, 08/16/10(a)
     1,000,000       1,000,935  
 
              
 
             3,519,570  
 
              
 
                
Personal Products 1.0%
                
Procter & Gamble International Funding SCA, 1.35%, 08/26/11
     2,500,000       2,517,225  
 
              
 
                
Pharmaceuticals 1.6%
                
Abbott Laboratories, 5.60%, 05/15/11
     1,735,000       1,803,557  
Pfizer, Inc., 2.49%, 03/15/11(b)
     2,000,000       2,026,598  
 
              
 
             3,830,155  
 
              
 
                
Total Corporate Bonds
(cost $71,525,768)
             71,770,789  
 
              
U.S. Government Mortgage Backed Agencies 0.9%
                 
    Principal     Market  
    Amount     Value  
 
Fannie Mae Pool
                
Pool# 253845
                
6.00%, 06/01/16
     46,009       50,047  
Pool# 254089
                
6.00%, 12/01/16
     72,524       78,891  
Pool# 545415
                
6.00%, 01/01/17
     66,369       72,195  
Pool# 254195
                
5.50%, 02/01/17
     153,255       166,014  
Pool# 625178
                
5.50%, 02/01/17
     127,654       138,282  
Freddie Mac Gold Pool
                
Pool# E00678
                
6.50%, 06/01/14
     25,081       26,606  
Pool# B17493
                
4.00%, 12/01/14
     1,569,165       1,623,286  
Pool# E00991
                
6.00%, 07/01/16
     36,966       39,937  
 
              
 
                
Total U.S. Government Mortgage Backed Agencies
(cost $2,146,820)
             2,195,258  
 
              
Sovereign Bonds 4.0%
                 
    Principal     Market  
    Amount     Value  
 
CANADA 1.1%
                
Province of Ontario Canada, 2.75%, 02/22/11
   $ 2,500,000     $ 2,532,060  
 
              
 
                
GERMANY 1.0%
                
Kreditanstalt fuer Wiederaufbau, 1.88%, 03/15/11
     2,500,000       2,523,000  
 
              
 
                
SUPRANATIONAL 1.9%
                
African Development Bank, 0.79%, 03/23/11(b)
     1,700,000       1,697,969  
Asian Development Bank, 4.13%, 09/15/10
     1,000,000       1,004,290  
International Bank for Reconstruction & Development, 0.71%, 03/04/11(b)
     2,000,000       2,002,964  
 
              
 
             4,705,223  
 
              
 
                
Total Sovereign Bonds
(cost $9,753,716)
             9,760,283  
 
              
U.S. Government Sponsored & Agency Obligations 1.8%
                 
    Principal     Market  
    Amount     Value  
 
Federal National Mortgage Association
                
1.75%, 03/23/11
     2,000,000       2,018,316  
1.38%, 04/28/11
     2,500,000       2,519,818  
 
              
 
                
Total U.S. Government Sponsored & Agency Obligations
(cost $4,524,780)
             4,538,134  
 
              
U.S. Treasury Notes 3.7%
                 
    Principal     Market  
    Amount     Value  
 
U.S. Treasury Note
                
1.00%, 09/30/11
     4,000,000       4,029,376  
1.13%, 01/15/12
     5,000,000       5,051,365  
 
              
 
                
Total U.S. Treasury Notes
(cost $9,040,485)
             9,080,741  
 
              
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

4

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide Enhanced Income Fund
Yankee Dollar 0.3%
                 
    Principal     Market  
    Amount     Value  
 
Health Care Equipment & Supplies 0.3%
                
Baxter FinCo BV, 4.75%, 10/15/10
     675,000       680,867  
 
              
 
                
Total Yankee Dollar
(cost $679,861)
             680,867  
 
              
Mutual Fund 4.2%
                 
            Market  
    Shares     Value  
 
Money Market Fund 4.2%
                
Invesco Liquid Assets Portfolio — Institutional Class, 0.26% (c)
     10,167,894     $ 10,167,894  
 
              
 
                
Total Mutual Fund
(cost $10,167,894)
             10,167,894  
 
              
 
                
Total Investments
(cost $244,840,321) (d) — 100.6%
             245,799,206  
 
                
Liabilities in excess of other assets — (0.6)%
             (1,378,978 )
 
              
 
                
NET ASSETS — 100.0%
           $ 244,420,228  
 
              
 
*   Denotes a non-income producing security.
 
(a)   Rule 144A, Section 4(2), or other security which is restricted as to sale to institutional investors. These securities were deemed liquid pursuant to procedures approved by the Board of Trustees. The aggregate value of these securities at July 31, 2010 was $11,576,367 which represents 4.74% of net assets.
 
(b)   Variable Rate Security. The rate reflected in the Statement of Investments is the rate in effect on July 31, 2010. The maturity date represents the actual maturity date.
 
(c)   Represents 7-day effective yield as of July 31, 2010.
 
(d)   At July 31, 2010, the tax basis cost of the Fund’s investments was $244,840,321, tax unrealized appreciation and depreciation were $1,209,899 and $(251,014), respectively.
     
BV
  Private Limited Liability Company
 
LLC
  Limited Liability Company
 
NA
  National Association
 
NV
  Public Traded Company
 
REMICS
  Real Estate Mortgage Investment Conduits
 
SCA
  Limited partnership with share capital
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

5

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide Enhanced Income Fund
In accordance with the authorative guidance on fair value measurements and disclosures under GAAP, the Fund discloses the fair value of its investments in a hierarchy that prioritizes the inputs to valuation techniques used to measure the fair value. This standard defines fair value, sets out a framework for measuring fair value and expands disclosures about fair value measurements. The hierarchy gives the highest priority to readily available unadjusted quoted prices in active markets for identical assets (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements) when market prices are not readily available or reliable. The three levels of the hierarchy established are summarized below:
     
Level 1:
  Quoted prices in active markets for identical assets.
 
Level 2:
  Other significant observable inputs (including quoted prices of similar securities, interest rates, prepayment speeds, credit risk, etc).
 
Level 3:
  Significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments).
Changes in valuation techniques may result in transfers in or out of an investment’s assigned level within the hierarchy.
The inputs or methodology used to value securities and other investments are not intended to indicate the risk associated with investing in those securities and investments.
The following is a summary of the inputs used to value the Fund’s net assets as of July 31, 2010:
                                 
Asset Type*   Level 1   Level 2   Level 3   Total
 
Assets:
                                
Asset-Backed Securities
   $ —     $ 72,723,637     $ —     $ 72,723,637  
Collateralized Mortgage Obligations
     —       58,084,849       —       58,084,849  
Commercial Mortgage Backed Securities
     —       6,796,754       —       6,796,754  
Corporate Bonds
     —       71,770,789       —       71,770,789  
Mutual Fund
     10,167,894       —       —       10,167,894  
Sovereign Bonds
     —       9,760,283       —       9,760,283  
U.S. Government Mortgage Backed Agencies
     —       2,195,258       —       2,195,258  
U.S. Government Sponsored & Agency Obligations
     —       4,538,134       —       4,538,134  
U.S. Treasury Notes
     —       9,080,741       —       9,080,741  
Yankee Dollar
     —       680,867       —       680,867  
 
Total
   $ 10,167,894     $ 235,631,312     $ —     $ 245,799,206  
 
Amounts designated as “—” are zero or have been rounded to zero.
 
*   See Statement of Investments for identification of securities by type and industry classification.
For the period ended July 31, 2010 there were no significant transfers between Levels 1 and 2.
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

6

 

Statement of Investments
July 31, 2010 (Unaudited)
Nationwide Government Bond Fund
Collateralized Mortgage Obligations 12.7%
                 
    Principal     Market  
    Amount     Value  
 
Fannie Mae Grantor Trust, Series 2001-T2, Class B, 6.02%, 11/25/10
   $ 3,127,000     $ 3,167,545  
Fannie Mae REMICS
                
Series 1988-25, Class B, 9.25%, 10/25/18
     7,384       8,264  
Series 1990-7, Class B, 8.50%, 01/25/20
     21,622       24,115  
Series 1993-16, Class Z, 7.50%, 02/25/23
     91,472       105,301  
Series 1993-226, Class PK, 6.00%, 12/25/23
     839,044       918,992  
Series 1998-73, Class MZ, 6.30%, 10/17/38
     4,005,532       4,573,859  
Series 2003-66, Class AP, 3.50%, 11/25/32
     1,540,215       1,593,971  
Fannie Mae-Aces
                
Series 1998-M4, Class D, 6.27%, 02/25/35
     413,110       421,021  
Series 2006-M2, Class A1F, 4.85%, 07/25/12(a)
     2,858,223       3,005,800  
Freddie Mac REMICS
                
Series 1684, Class I, 6.50%, 03/15/24
     1,457,386       1,580,350  
Series 2296, Class H, 6.50%, 03/15/31
     91,974       97,202  
Series 2960, Class BL, 5.00%, 02/15/23
     3,916,728       4,117,659  
 
              
 
                
Total Collateralized Mortgage Obligations
(cost $18,451,060)
             19,614,079  
 
              
U.S. Government Mortgage Backed Agencies 29.7%
                 
    Principal     Market  
    Amount     Value  
 
Fannie Mae Pool
                
Pool# 460669
                
5.63%, 06/01/12
   10,697,685     11,478,733  
Pool# 463344
                
4.04%, 02/01/15
     6,487,733       6,944,956  
Pool# 381190
                
7.90%, 08/01/15
     1,432,699       1,653,071  
Pool# 383142
                
7.11%, 10/01/15
     1,640,583       1,687,522  
Pool# 380082
                
6.35%, 03/01/16
     3,623,029       3,926,150  
Pool# 381995
                
7.40%, 10/01/17
     977,879       1,124,241  
Pool# 385012
                
6.84%, 04/01/20
     4,160,944       4,813,438  
Pool# 874740
                
6.32%, 07/01/22
     1,731,626       1,972,936  
Pool# 874982
                
6.81%, 11/01/25
     1,705,921       2,013,985  
Pool# 385258
                
6.65%, 07/01/27
     1,268,932       1,429,593  
Pool# 387114
                
5.62%, 09/01/34
     1,157,041       1,262,002  
Pool# 773298
                
4.84%, 04/01/35(a)
     3,101,177       3,263,940  
Pool# 745769
                
2.76%, 07/01/36(a)
     2,848,741       2,984,147  
Pool# 813605
                
2.95%, 07/01/36(a)
     1,293,163       1,348,154  
 
              
 
                
Total U.S. Government Mortgage Backed Agencies
(cost $43,429,146)
             45,902,868  
 
              
U.S. Government Sponsored & Agency Obligations 5.2%
                 
    Principal     Market  
    Amount     Value  
 
Federal Home Loan Banks
                
5.99%, 04/15/13
     1,500,000       1,702,305  
8.02%, 02/13/15
     5,000,000       6,396,640  
 
              
 
                
Total U.S. Government Sponsored & Agency Obligations
(cost $7,197,375)
             8,098,945  
 
              
U.S. Treasury Bond 12.3%
                 
    Principal     Market  
    Amount     Value  
 
U.S. Treasury Bond, 8.13%, 08/15/21
     13,000,000       19,110,000  
 
              
Total U.S. Treasury Bond
(cost $18,149,167)
             19,110,000  
 
              
U.S. Treasury Notes 35.8%
                 
    Principal     Market  
    Amount     Value  
 
U.S. Treasury Note
                
2.25%, 01/31/15
     17,000,000       17,614,924  
3.00%, 09/30/16
     20,000,000       21,068,760  
4.00%, 08/15/18
     15,000,000       16,660,545  
 
              
 
                
Total U.S. Treasury Notes
(cost $53,551,636)
             55,344,229  
 
              
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

1

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide Government Bond Fund
Mutual Fund 3.7%
                 
            Market  
    Shares     Value  
 
Money Market Fund 3.7%
                
Invesco Liquid Assets Portfolio — Institutional Class, 0.26% (b)
     5,697,152     $ 5,697,152  
 
              
 
                
Total Mutual Fund
(cost $5,697,152)
             5,697,152  
 
              
 
                
Total Investments
(cost $146,475,536) (c) — 99.4%
             153,767,273  
 
                
Other assets in excess of liabilities — 0.6%
             873,871  
 
              
 
                
NET ASSETS — 100.0%
           $ 154,641,144  
 
              
 
(a)   Variable Rate Security. The rate reflected in the Statement of Investments is the rate in effect on July 31, 2010. The maturity date represents the actual maturity date.
 
(b)   Represents 7-day effective yield as of July 31, 2010.
 
(c)   At July 31, 2010, the tax basis cost of the Fund’s investments was $146,475,536, tax unrealized appreciation and depreciation were $7,291,737 and $0, respectively.
     
REMICS
  Real Estate Mortgage Investment Conduits
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

2

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide Government Bond Fund
In accordance with the authorative guidance on fair value measurements and disclosures under GAAP, the Fund discloses the fair value of its investments in a hierarchy that prioritizes the inputs to valuation techniques used to measure the fair value. This standard defines fair value, sets out a framework for measuring fair value and expands disclosures about fair value measurements. The hierarchy gives the highest priority to readily available unadjusted quoted prices in active markets for identical assets (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements) when market prices are not readily available or reliable. The three levels of the hierarchy established are summarized below:
     
Level 1:
  Quoted prices in active markets for identical assets.
 
Level 2:
  Other significant observable inputs (including quoted prices of similar securities, interest rates, prepayment speeds, credit risk, etc).
 
Level 3:
  Significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments).
Changes in valuation techniques may result in transfers in or out of an investment’s assigned level within the hierarchy.
The inputs or methodology used to value securities and other investments are not intended to indicate the risk associated with investing in those securities and investments.
The following is a summary of the inputs used to value the Fund’s net assets as of July 31, 2010:
                                 
Asset Type*   Level 1   Level 2   Level 3   Total
 
Assets:
                                
Collateralized Mortgage Obligations
   $ —     $ 19,614,079     $ —     $ 19,614,079  
Mutual Fund
     5,697,152       —       —       5,697,152  
U.S. Government Mortgage Backed Agencies
     —       45,902,868       —       45,902,868  
U.S. Government Sponsored & Agency Obligations
     —       8,098,945       —       8,098,945  
U.S. Treasury Bond
     —       19,110,000       —       19,110,000  
U.S. Treasury Notes
     —       55,344,229       —       55,344,229  
 
Total
   $ 5,697,152     $ 148,070,121     $ —     $ 153,767,273  
 
Amounts designated as “—” are zero or have been rounded to zero.
 
*   See Statement of Investments for identification of securities by type and industry classification.
For the period ended July 31, 2010 there were no significant transfers between Levels 1 and 2.
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

3

 

Statement of Investments
July 31, 2010 (Unaudited)
Nationwide Short Duration Bond Fund
Asset-Backed Securities 22.3%
                 
    Principal     Market  
    Amount     Value  
 
Automobile 13.5%
                
Ally Auto Receivables Trust, Series 2010-1, Class A3, 1.45%, 05/15/14
   $ 450,000     $ 453,996  
AmeriCredit Automobile Receivables Trust, Series 2005-CF, Class A4, 4.63%, 06/06/12
     330,553       330,747  
Bank of America Auto Trust
                
Series 2010-1A, Class A4, 2.18%, 02/15/17(a)
     300,000       306,851  
Series 2010-2, Class A4, 1.94%, 06/15/17
     465,000       472,523  
BMW Vehicle Owner Trust, Series 2010-A, Class A4, 2.10%, 10/25/16
     550,000       563,560  
Capital Auto Receivables Asset Trust, Series 2008-1, Class A4A, 4.46%, 07/15/14
     1,000,000       1,049,016  
Daimler Chrysler Auto Trust, Series 2007-A, Class A4, 5.28%, 03/08/13
     1,000,000       1,040,076  
Ford Credit Auto Owner Trust, Series 2010-B, Class A3, 0.98%, 10/15/14
     215,000       214,967  
Honda Auto Receivables Owner Trust
                
Series 2010-1, Class A4, 1.98%, 05/23/16
     415,000       424,241  
Series 2010-2, Class A4, 1.93%, 08/18/16
     500,000       508,991  
Hyundai Auto Receivables Trust, Series 2010-A, Class A4, 2.45%, 12/15/16
     425,000       436,489  
Nissan Auto Receivables Owner Trust, Series 2008-A, Class A4, 4.28%, 06/16/14
     700,000       724,520  
Toyota Auto Receivables Owner Trust
                
Series 2010-A, Class A3, 1.27%, 12/16/13
     125,000       125,863  
Series 2010-A, Class A4, 1.86%, 05/16/16
     275,000       277,984  
USAA Auto Owner Trust
                
Series 2008-1, Class A4, 4.50%, 10/15/13
     1,000,000       1,035,733  
Series 2010-1, Class A4, 2.14%, 09/15/15
     350,000       357,982  
World Omni Auto Receivables Trust
                
Series 2008-A, Class A4, 4.74%, 10/15/13
     1,000,000       1,054,404  
Series 2008-B, Class A3A, 5.13%, 04/15/13
     651,035       667,454  
 
              
 
             10,045,397  
 
              
Credit Card 2.7%
                
Chase Issuance Trust
                
Series 2005-A7, Class A7, 4.55%, 03/15/13
     1,000,000       1,018,551  
Series 2007-A15, Class A, 4.96%, 09/17/12
     500,000       502,805  
Citibank Credit Card Issuance Trust, Series 2009-A5, Class A5, 2.25%, 12/23/14
     500,000       512,828  
 
              
 
             2,034,184  
 
              
Home Equity 1.5%
                
CitiFinancial Mortgage Securities, Inc., Series 2003-4, Class AF4, 4.43%, 10/25/33(b)
     434,904       419,620  
Residential Asset Securities Corp., Series 2003-KS10, Class AI4, 4.47%, 03/25/32(c)
     726,066       704,292  
 
              
 
             1,123,912  
 
              
Other 4.6%
                
CenterPoint Energy Transition Bond Co. LLC, Series 2005-A, Class A2, 4.97%, 08/01/14
     500,279       520,385  
FPL Recovery Funding LLC, Series 2007-A, Class A2, 5.04%, 08/01/15
     600,000       645,128  
John Deere Owner Trust, Series 2010-A, Class A4, 2.13%, 10/17/16
     550,000       563,191  
MBNA Practice Solutions Owner Trust, Series 2005-2, Class A4, 4.47%, 06/15/13(a)
     29,454       29,499  
Peco Energy Transition Trust, Series 2001-A, Class A1, 6.52%, 12/31/10
     501,308       503,926  
PG&E Energy Recovery Funding LLC, Series 2005-2, Class A2, 5.03%, 03/25/14
     595,234       618,098  
Volvo Financial Equipment LLC, Series 2010-1A, Class A3, 1.56%, 06/17/13(a)
     500,000       502,542  
 
              
 
             3,382,769  
 
              
 
                
Total Asset-Backed Securities
(cost $16,266,737)
             16,586,262  
 
              
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

1

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide Short Duration Bond Fund
Collateralized Mortgage Obligations 5.7%
                 
    Principal     Market  
    Amount     Value  
 
Fannie Mae REMICS
                
Series 2002-82, Class XD, 5.00%, 07/25/16
   $ 262,885     $ 266,750  
Series 2004-80, Class LG, 4.00%, 10/25/16
     580,728       588,238  
Freddie Mac REMICS
                
Series 2625, Class JD, 3.25%, 07/15/17
     322,420       330,674  
Series 2676, Class CV, 4.00%, 05/15/16
     400,879       408,330  
Series 2692, Class AB, 4.00%, 05/15/16
     624,973       637,690  
Series 3627, Class QG, 4.00%, 07/15/23
     474,274       499,115  
Series 3645, Class EH, 3.00%, 12/15/20
     455,057       470,350  
Government National Mortgage Association
                
Series 2004-22, Class BK, 3.47%, 04/20/34
     254,060       256,358  
Series 2004-76, Class QA, 4.00%, 01/20/34
     718,437       745,160  
 
              
 
                
Total Collateralized Mortgage Obligations
(cost $4,142,853)
             4,202,665  
 
              
Commercial Mortgage Backed Securities 8.9%
                 
    Principal     Market  
    Amount     Value  
 
Bear Stearns Commercial Mortgage Securities
                
Series 2001-TOP4, Class A1, 5.06%, 11/15/16
   $ 103,097     $ 103,641  
Series 2004-T14, Class A3, 4.80%, 01/12/41
     539,817       551,269  
Citigroup/Deutsche Bank Commercial Mortgage Trust, Series 2007-CD4, Class A1 4.98%, 12/11/49
     457,565       462,541  
GS Mortgage Securities Corp. II, Series 2006-GG6, Class A2 5.51%, 04/10/38(c)
     898,962       912,118  
LB-UBS Commercial Mortgage Trust
                
Series 2005-C5, Class A2, 4.89%, 09/15/30
     1,909,865       1,967,971  
Series 2007-C1, Class A1, 5.39%, 02/15/40
     459,153       468,207  
Merrill Lynch/Countrywide Commercial Mortgage Trust, Series 2006-3, Class A1 4.71%, 07/12/46(c)
     142,071       142,442  
Wachovia Bank Commercial Mortgage Trust
                
Series 2005-C17, Class A2, 4.78%, 03/15/42
     673,426       674,600  
Series 2006-C27, Class A2, 5.62%, 07/15/45
     1,300,000       1,331,065  
 
              
 
                
Total Commercial Mortgage Backed Securities
(cost $6,493,671)
             6,613,854  
 
              
Corporate Bonds 19.6%
                 
    Principal     Market  
    Amount     Value  
 
Aerospace & Defense 0.3%
                
Boeing Co. (The), 1.88%, 11/20/12
   $ 250,000     $ 254,656  
 
              
Air Freight & Logistics 0.9%
                
United Parcel Service, Inc., 3.88%, 04/01/14
     600,000       649,290  
 
              
Capital Markets 0.7%
                
State Street Corp., 2.15%, 04/30/12
     500,000       512,809  
 
              
Commercial Banks 3.1%
                
BNP Paribas, 0.93%, 04/08/13(c)
     500,000       493,543  
US Bancorp
                
2.25%, 03/13/12
     500,000       512,968  
2.00%, 06/14/13
     300,000       307,028  
Wells Fargo & Co., 3.98%, 10/29/10
     1,000,000       1,006,661  
 
              
 
             2,320,200  
 
              
Communications Equipment 1.4%
                
Cisco Systems, Inc., 5.25%, 02/22/11
     1,000,000       1,024,996  
 
              
Consumer Finance 0.8%
                
John Deere Capital Corp., 1.88%, 06/17/13
     600,000       608,966  
 
              
Diversified Financial Services 4.9%
                
Caterpillar Financial Services Corp., 2.00%, 04/05/13
     150,000       152,464  
General Electric Capital Corp., 2.20%, 06/08/12
     1,000,000       1,028,015  
JPMorgan Chase & Co.
                
2.63%, 12/01/10
     750,000       755,942  
5.38%, 10/01/12
     650,000       702,509  
TIAA Global Markets, Inc., 4.88%, 01/12/11(a)
     1,000,000       1,014,269  
 
              
 
             3,653,199  
 
              
Food & Staples Retailing 1.4%
                
Wal-Mart Stores, Inc., 4.13%, 02/15/11
     1,000,000       1,018,297  
 
              
Insurance 3.1%
                
Berkshire Hathaway, Inc., Series 0001, 2.13%, 02/11/13
     600,000       615,884  
Metropolitan Life Global Funding I, 4.63%, 08/19/10(a)
     1,000,000       1,001,705  
New York Life Global Funding, 1.85%, 12/13/13(a)
     700,000       704,477  
 
              
 
             2,322,066  
 
              
Personal Products 1.0%
                
Procter & Gamble Co. (The), 1.38%, 08/01/12
     700,000       707,926  
 
              
Pharmaceuticals 2.0%
                
Eli Lilly & Co., 3.55%, 03/06/12
     200,000       208,392  
GlaxoSmithKline Capital, Inc., 4.38%, 04/15/14
     700,000       769,406  
Pfizer, Inc., 2.49%, 03/15/11(c)
     500,000       506,649  
 
              
 
             1,484,447  
 
              
 
                
Total Corporate Bonds
(cost $14,374,702)
             14,556,852  
 
              
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

2

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide Short Duration Bond Fund
Sovereign Bond 0.8%
                 
    Principal   Market
    Amount   Value
 
CANADA 0.8%
                
Province of Ontario Canada, 1.88%, 11/19/12
     575,000       585,001  
 
                
Total Sovereign Bond
(cost $574,188)
             585,001  
 
                
U.S. Government Sponsored & Agency Obligations 14.5%
                 
    Principal     Market  
    Amount     Value  
 
Federal Farm Credit Bank 3.88%, 08/25/11
   $ 750,000     $ 777,746  
Federal Home Loan Banks 1.88%, 06/21/13
     1,000,000       1,026,138  
Federal Home Loan Mortgage Corp.
                
2.88%, 11/23/10
     1,500,000       1,512,969  
1.75%, 06/15/12
     750,000       765,426  
Federal National Mortgage Association
                
3.63%, 08/15/11
     1,000,000       1,033,915  
1.50%, 06/26/13
     2,500,000       2,538,935  
2.75%, 03/13/14
     3,000,000       3,159,312  
 
              
Total U.S. Government Sponsored & Agency Obligations
(cost $10,690,669)
             10,814,441  
 
              
U.S. Treasury Notes 24.2%
                 
    Principal   Market
    Amount   Value
 
U.S. Treasury Note
                
1.00%, 04/30/12
     4,000,000       4,035,000  
1.13%, 12/15/12
     4,250,000       4,296,151  
1.13%, 06/15/13
     1,500,000       1,514,070  
1.38%, 05/15/12
     2,000,000       2,031,016  
1.38%, 02/15/13
     4,500,000       4,575,235  
1.75%, 04/15/13
     1,500,000       1,540,320  
 
                
Total U.S. Treasury Notes
(cost $17,732,197)
             17,991,792  
 
                
Mutual Fund 3.6%
                 
            Market  
    Shares     Value  
 
Money Market Fund 3.6%
                
Invesco Liquid Assets Portfolio — Institutional Class, 0.26% (d)
     2,685,032       2,685,032  
 
              
 
                
Total Mutual Fund
(cost $2,685,032)
             2,685,032  
 
              
 
                
Total Investments
(cost $72,960,049) (e) — 99.6%
             74,035,899  
 
                
Other assets in excess of liabilities — 0.4%
             298,618  
 
              
 
                
NET ASSETS — 100.0%
           $ 74,334,517  
 
              
 
(a)   Rule 144A, Section 4(2), or other security which is restricted as to sale to institutional investors. These securities were deemed liquid pursuant to procedures approved by the Board of Trustees. The aggregate value of these securities at July 31, 2010 was $3,559,343 which represents 4.79% of net assets.
 
(b)   Step Bond. Coupon rate is set for an initial period and then increases to a higher coupon rate at a specific date. The rate shown is the rate at July 31, 2010.
 
(c)   Variable Rate Security. The rate reflected in the Statement of Investments is the rate in effect on July 31, 2010. The maturity date represents the actual maturity date.
 
(d)   Represents 7-day effective yield as of July 31, 2010.
 
(e)   At July 31, 2010, the tax basis cost of the Fund’s investments was $72,960,049, tax unrealized appreciation and depreciation were $1,122,702 and $(46,852), respectively.
     
LLC
  Limited Liability Company
 
REMICS
  Real Estate Mortgage Investment Conduits
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

3

 

In accordance with the authorative guidance on fair value measurements and disclosures under GAAP, the Fund discloses the fair value of its investments in a hierarchy that prioritizes the inputs to valuation techniques used to measure the fair value. This standard defines fair value, sets out a framework for measuring fair value and expands disclosures about fair value measurements. The hierarchy gives the highest priority to readily available unadjusted quoted prices in active markets for identical assets (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements) when market prices are not readily available or reliable. The three levels of the hierarchy established are summarized below:
Level 1:   Quoted prices in active markets for identical assets.
Level 2:   Other significant observable inputs (including quoted prices of similar securities, interest rates, prepayment speeds, credit risk, etc).
Level 3:   Significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments).
Changes in valuation techniques may result in transfers in or out of an investment’s assigned level within the hierarchy.
The inputs or methodology used to value securities and other investments are not intended to indicate the risk associated with investing in those securities and investments.
The following is a summary of the inputs used to value the Fund’s net assets as of July 31, 2010:
                                 
Asset Type*   Level 1   Level 2   Level 3   Total
 
Assets:
                                
Asset-Backed Securities
   $ —     $ 16,586,262     $ —     $ 16,586,262  
Collateralized Mortgage Obligations
     —       4,202,665       —       4,202,665  
Commercial Mortgage Backed Securities
     —       6,613,854       —       6,613,854  
Corporate Bonds
     —       14,556,852       —       14,556,852  
Mutual Fund
     2,685,032       —       —       2,685,032  
Sovereign Bond
     —       585,001       —       585,001  
U.S. Government Sponsored & Agency Obligations
     —       10,814,441       —       10,814,441  
U.S. Treasury Notes
     —       17,991,792       —       17,991,792  
 
Total
   $ 2,685,032     $ 71,350,867     $ —     $ 74,035,899  
 
 
*   See Statement of Investments for identification of securities by type and industry classification.
Amounts designated as “-” are zero or have been rounded to zero.
For the period ended July 31, 2010 there were no significant transfers between Levels 1 and 2.
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

4

 

Statement of Investments
July 31, 2010 (Unaudited)
Nationwide Bond Index Fund
Asset-Backed Securities 0.5%
                 
    Principal     Market  
    Amount     Value  
 
Automobile 0.3%
                
Ford Credit Auto Owner Trust, Series 2009-E, Class A3, 1.51%, 01/15/14
   $ 570,000     $ 575,180  
USAA Auto Owner Trust, Series 2008-3, Class A3, 4.28%, 10/15/12
     2,607,088       2,644,664  
 
              
 
             3,219,844  
 
              
Credit Card 0.2%
                
Citibank Credit Card Issuance Trust, Series 2006-A4, Class A4, 5.45%, 05/10/13
     2,330,000       2,416,752  
 
              
Home Equity 0.0%†
                
Aegis Asset Backed Securities Trust, Series 2006-1, Class A1, 0.41%, 01/25/37(a)
     178,871       178,322  
 
              
Total Asset-Backed Securities
(cost $5,731,483)
             5,814,918  
 
              
Commercial Mortgage Backed Securities 3.1%
                 
    Principal     Market  
    Amount     Value  
 
Banc of America Commercial Mortgage, Inc.
                
Series 2005-3, Class AM, 4.73%, 07/10/43
   $ 1,000,000     $ 867,821  
Series 2006-6, Class A4, 5.36%, 10/10/45
     2,830,000       2,887,475  
Series 2007-1, Class A4, 5.45%, 01/15/49
     1,630,000       1,677,594  
Series 2007-4, Class A4, 5.74%, 02/10/51(a)
     1,300,000       1,355,652  
Bear Stearns Commercial Mortgage Securities, Inc., Series 2005-PWR8, Class AJ 4.75%, 06/11/41
     1,384,000       1,183,271  
Citigroup Commercial Mortgage Trust, Series 2008-C7, Class A4 6.09%, 12/10/49(a)
     2,320,000       2,426,714  
Commercial Mortgage Pass Through Certificates, Series 2005-LP5, Class A4 4.98%, 05/10/43(a)
     4,180,000       4,500,831  
CW Capital Cobalt Ltd., Series 2007-C3, Class A4 5.82%, 05/15/46(a)
     1,490,000       1,483,425  
First Union National Bank Commercial Mortgage, Series 2000-C2, Class A2 7.20%, 10/15/32
     112,408       112,343  
GS Mortgage Securities Corp. II, Series 2004-GG2, Class A5 5.28%, 08/10/38(a)
     2,133,000       2,276,149  
JPMorgan Chase Commercial Mortgage Securities Corp.
                
Series 2005-LDP4, Class AM, 5.00%, 10/15/42(a)
     1,546,000       1,497,465  
Series 2006-LDP7, Class A4, 5.87%, 04/15/45(a)
     2,321,000       2,525,937  
Series 2007-CB18, Class AM, 5.47%, 06/12/47(a)
     300,000       256,156  
Series 2007-LD12, Class A2, 5.83%, 02/15/51
     1,525,000       1,587,819  
LB-UBS Commercial Mortgage Trust
                
Series 2003-C8, Class A4, 5.12%, 11/15/32(a)
     2,161,000       2,330,789  
Series 2007-C1, Class A2, 5.32%, 02/15/40
     1,535,000       1,583,481  
Morgan Stanley Capital I
                
Series 2005-T19, Class A2, 4.73%, 06/12/47
     366,532       366,334  
Series 2007-IQ14, Class A4, 5.69%, 04/15/49(a)
     1,490,000       1,488,714  
Wachovia Bank Commercial Mortgage Trust
                
Series 2002-C1, Class C, 6.55%, 04/15/34
     1,189,000       1,258,056  
Series 2005-C20, Class APB, 5.09%, 07/15/42(a)
     2,000,000       2,131,839  
Series 2006-C25, Class A5, 5.74%, 05/15/43(a)
     1,900,000       2,040,848  
Series 2007-C33, Class A4, 5.90%, 02/15/51(a)(b)
     1,395,000       1,403,614  
 
              
Total Commercial Mortgage Backed Securities
(cost $32,818,774)
             37,242,327  
 
              
Corporate Bonds 19.0%
                 
    Principal     Market  
    Amount     Value  
 
Aerospace & Defense 0.4%
                
Boeing Co. (The), 4.88%, 02/15/20(b)
   $ 600,000     $ 665,849  
General Dynamics Corp., 4.25%, 05/15/13
     175,000       190,306  
Goodrich Corp.
                
6.29%, 07/01/16
     171,000       200,848  
6.80%, 07/01/36
     129,000       152,809  
Honeywell International, Inc.
                
6.13%, 11/01/11
     103,000       109,573  
5.40%, 03/15/16
     440,000       509,074  
5.30%, 03/01/18
     605,000       695,179  
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

1

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide Bond Index Fund
Corporate Bonds (continued)
                 
    Principal     Market  
    Amount     Value  
 
Aerospace & Defense (continued)
                
Lockheed Martin Corp., Series B, 6.15%, 09/01/36
   $ 196,000     $ 226,426  
Lockheed Martin Corp., 5.72%, 06/01/40(c)
     150,000       164,650  
McDonnell Douglas Corp., 9.75%, 04/01/12
     325,000       370,783  
Northrop Grumman Systems Corp., 7.75%, 02/15/31
     82,000       110,242  
Raytheon Co.
                
6.40%, 12/15/18
     144,000       172,979  
7.00%, 11/01/28
     92,000       114,631  
Rockwell Collins, Inc.
                
4.75%, 12/01/13
     205,000       223,205  
5.25%, 07/15/19
     70,000       77,301  
United Technologies Corp.
                
4.88%, 05/01/15
     460,000       519,529  
6.13%, 07/15/38
     400,000       468,048  
 
              
 
             4,971,432  
 
              
Air Freight & Logistics 0.0%†
                
United Parcel Service of America, Inc.
                
8.38%, 04/01/20
     82,000       112,429  
8.38%, 04/01/30(d)
     123,000       165,611  
United Parcel Service, Inc., 6.20%, 01/15/38
     205,000       246,386  
 
              
 
             524,426  
 
              
Airlines 0.0%†
                
Southwest Airlines Co., 5.13%, 03/01/17
     103,000       106,551  
 
              
Auto Components 0.0%†
                
Johnson Controls, Inc., 4.88%, 09/15/13
     123,000       132,926  
 
              
Automobiles 0.2%
                
Daimler Finance North America LLC
                
5.88%, 03/15/11
     1,213,000       1,248,785  
7.30%, 01/15/12
     271,000       292,944  
6.50%, 11/15/13
     338,000       382,179  
 
              
 
             1,923,908  
 
              
Beverages 0.3%
                
Anheuser-Busch Cos., Inc.
                
4.38%, 01/15/13
     21,000       22,254  
5.00%, 03/01/19
     164,000       173,239  
5.75%, 04/01/36
     151,000       155,934  
6.00%, 11/01/41
     103,000       107,474  
Anheuser-Busch InBev Worldwide, Inc., 5.38%, 01/15/20(b)
     600,000       662,871  
Bottling Group LLC, 4.63%, 11/15/12
     287,000       310,194  
Coca-Cola Enterprises, Inc.
                
8.50%, 02/01/12
     146,000       161,775  
7.38%, 03/03/14
     328,000       394,030  
6.95%, 11/15/26
     103,000       126,751  
Diageo Capital PLC, 5.50%, 09/30/16
     300,000       342,039  
Diageo Finance BV, 5.30%, 10/28/15
     451,000       507,188  
Pepsi Bottling Group, Inc., Series B, 7.00%, 03/01/29
     144,000       182,646  
PepsiAmericas, Inc., 4.88%, 01/15/15
     208,000       232,816  
PepsiCo, Inc., 7.90%, 11/01/18
     500,000       653,824  
 
              
 
             4,033,035  
 
              
Biotechnology 0.0%†
                
Amgen, Inc., 6.40%, 02/01/39(b)
     300,000       359,283  
Genentech, Inc., 5.25%, 07/15/35
     62,000       63,924  
 
              
 
             423,207  
 
              
Capital Markets 1.0%
                
Bank of New York Mellon Corp. (The), 5.13%, 08/27/13
     300,000       333,051  
Bear Stearns Cos. LLC (The)
                
5.70%, 11/15/14
     256,000       287,908  
5.30%, 10/30/15
     123,000       134,304  
4.65%, 07/02/18
     246,000       254,393  
Credit Suisse Guernsey, 5.86%, 05/15/17(e)
     300,000       273,000  
Credit Suisse USA, Inc.
                
6.13%, 11/15/11
     185,000       196,232  
6.50%, 01/15/12
     246,000       263,619  
5.13%, 01/15/14
     119,000       129,318  
5.85%, 08/16/16
     300,000       342,551  
7.13%, 07/15/32
     395,000       491,439  
Goldman Sachs Group, Inc. (The)
                
6.60%, 01/15/12
     72,000       76,856  
5.25%, 10/15/13
     605,000       655,691  
5.13%, 01/15/15
     461,000       494,494  
5.35%, 01/15/16
     453,000       483,266  
5.63%, 01/15/17
     850,000       876,688  
6.13%, 02/15/33
     450,000       455,219  
6.75%, 10/01/37
     700,000       713,098  
Jefferies Group, Inc.
                
6.88%, 04/15/21
     250,000       252,689  
6.25%, 01/15/36
     123,000       108,928  
Mellon Funding Corp., 5.00%, 12/01/14
     185,000       203,547  
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

2

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide Bond Index Fund
Corporate Bonds (continued)
                 
    Principal     Market  
    Amount     Value  
 
Capital Markets (continued)
                
Morgan Stanley
                
6.60%, 04/01/12
   $ 349,000     $ 372,706  
5.30%, 03/01/13
     461,000       491,942  
4.75%, 04/01/14(b)
     410,000       422,791  
5.45%, 01/09/17
     1,345,000       1,392,780  
7.30%, 05/13/19
     400,000       451,535  
5.63%, 09/23/19
     800,000       813,163  
7.25%, 04/01/32
     226,000       259,971  
State Street Bank & Trust Co., 5.30%, 01/15/16
     200,000       218,018  
UBS Preferred Funding Trust V, Series 1, 6.24%, 05/15/16(e)
     225,000       212,062  
 
              
 
             11,661,259  
 
              
Chemicals 0.2%
                
Albemarle Corp., 5.10%, 02/01/15
     82,000       89,366  
Cytec Industries, Inc., 6.00%, 10/01/15
     113,000       125,450  
Dow Chemical Co. (The)
                
6.00%, 10/01/12
     310,000       336,281  
8.55%, 05/15/19
     415,000       518,282  
9.40%, 05/15/39
     200,000       280,825  
E.I. du Pont de Nemours & Co., 5.25%, 12/15/16
     515,000       594,634  
Lubrizol Corp.
                
5.50%, 10/01/14
     196,000       212,222  
6.50%, 10/01/34
     103,000       103,238  
Praxair, Inc., 3.95%, 06/01/13
     123,000       131,885  
 
              
 
             2,392,183  
 
              
Commercial Banks 1.3%
                
Bank of America NA
                
6.00%, 06/15/16
     205,000       218,409  
5.30%, 03/15/17(b)
     500,000       510,654  
Bank One Corp.
                
5.25%, 01/30/13
     103,000       110,302  
8.00%, 04/29/27
     202,000       251,661  
BB&T Corp., 4.75%, 10/01/12
     164,000       173,543  
Charter One Bank NA, Series AI, 6.38%, 05/15/12
     500,000       523,269  
Comerica, Inc., 4.80%, 05/01/15
     123,000       129,059  
Eksportfinans ASA, 5.50%, 05/25/16
     267,000       306,048  
HSBC Bank USA NA
                
4.63%, 04/01/14
     410,000       437,519  
5.88%, 11/01/34
     498,000       507,347  
5.63%, 08/15/35
     250,000       243,918  
HSBC Holdings PLC
                
6.50%, 05/02/36
     500,000       543,077  
6.50%, 09/15/37
     300,000       325,035  
JPMorgan Chase Bank NA
                
5.88%, 06/13/16
     308,000       342,563  
6.00%, 07/05/17
     1,030,000       1,144,060  
6.00%, 10/01/17
     750,000       842,933  
KeyBank NA
                
5.70%, 08/15/12
     185,000       196,476  
5.80%, 07/01/14
     103,000       112,018  
Korea Development Bank, 5.75%, 09/10/13
     82,000       89,326  
Marshall & Ilsley Bank, 5.25%, 09/04/12
     113,000       114,470  
National City Corp., 4.90%, 01/15/15
     246,000       267,266  
PNC Funding Corp., 5.25%, 11/15/15
     246,000       266,031  
Regions Bank, 3.25%, 12/09/11
     2,440,000       2,529,733  
Sovereign Bank, 5.13%, 03/15/13
     200,000       206,804  
St. George Bank Ltd., 5.30%, 10/15/15(c)
     164,000       173,409  
SunTrust Bank
                
5.20%, 01/17/17
     123,000       122,617  
5.45%, 12/01/17
     127,000       127,698  
UBS AG/Stamford Branch
                
5.88%, 07/15/16
     679,000       734,689  
5.88%, 12/20/17
     250,000       274,024  
UnionBanCal Corp., 5.25%, 12/16/13
     144,000       156,930  
US Bank NA
                
6.38%, 08/01/11
     249,000       262,571  
4.95%, 10/30/14
     185,000       202,803  
4.80%, 04/15/15
     92,000       100,424  
Wachovia Bank NA
                
5.60%, 03/15/16
     492,000       530,963  
6.60%, 01/15/38
     675,000       737,915  
Wachovia Corp., 4.88%, 02/15/14
     127,000       136,095  
Wells Fargo & Co.
                
5.13%, 09/15/16
     144,000       152,767  
5.38%, 02/07/35
     318,000       324,537  
Wells Fargo Capital X, 5.95%, 12/15/36
     650,000       589,455  
Wells Fargo Capital XIII, 7.70%, 03/26/13(e)
     775,000       794,375  
 
              
 
             15,812,793  
 
              
Commercial Services & Supplies 0.2%
                
Pitney Bowes, Inc.
                
4.75%, 01/15/16
     205,000       222,685  
4.75%, 05/15/18
     62,000       65,574  
RR Donnelley & Sons Co.
                
4.95%, 04/01/14
     82,000       84,045  
6.13%, 01/15/17
     400,000       410,048  
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

3

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide Bond Index Fund
Corporate Bonds (continued)
                 
    Principal     Market  
    Amount     Value  
 
Commercial Services & Supplies (continued)
                
Science Applications International Corp., 5.50%, 07/01/33
   $ 123,000     $ 114,544  
Waste Management, Inc.
                
6.38%, 11/15/12
     144,000       158,584  
6.38%, 03/11/15
     800,000       928,302  
7.00%, 07/15/28
     113,000       131,042  
 
              
 
             2,114,824  
 
              
Communications Equipment 0.2%
                
Cisco Systems, Inc.
                
5.50%, 02/22/16
     750,000       875,614  
4.95%, 02/15/19
     835,000       928,172  
Motorola, Inc., 7.50%, 05/15/25
     144,000       160,782  
 
              
 
             1,964,568  
 
              
Computers & Peripherals 0.1%
                
Dell, Inc., 7.10%, 04/15/28
     144,000       172,398  
Hewlett-Packard Co.
                
6.50%, 07/01/12
     208,000       229,431  
5.50%, 03/01/18
     835,000       971,895  
 
              
 
             1,373,724  
 
              
Construction Materials 0.1%
                
CRH America, Inc., 6.00%, 09/30/16
     465,000       516,529  
Lafarge SA, 6.50%, 07/15/16
     185,000       196,027  
 
              
 
             712,556  
 
              
Consumer Finance 0.4%
                
American Express Co.
                
4.88%, 07/15/13
     837,000       901,401  
8.13%, 05/20/19
     600,000       762,472  
6.80%, 09/01/66(a)
     210,000       204,750  
Capital One Bank USA NA, 5.13%, 02/15/14
     410,000       443,730  
Capital One Capital III, 7.69%, 08/15/36
     175,000       174,125  
Capital One Financial Corp., 5.25%, 02/21/17
     211,000       224,978  
Caterpillar Financial Services Corp.
                
6.13%, 02/17/14
     700,000       799,906  
5.50%, 03/15/16
     205,000       234,743  
FIA Card Services NA, 7.13%, 11/15/12
     140,000       152,884  
HSBC Finance Corp.
                
7.00%, 05/15/12
     264,000       285,268  
5.25%, 04/15/15
     185,000       198,389  
SLM Corp., Series A, 5.38%, 05/15/14
     759,000       696,448  
SLM Corp., 8.45%, 06/15/18
     150,000       139,764  
 
              
 
             5,218,858  
 
              
Diversified Financial Services 3.4%
                
Associates Corp of North America, 6.95%, 11/01/18
     236,000       257,282  
AXA Financial, Inc., 7.00%, 04/01/28
     92,000       95,465  
Bank of America Corp.
                
5.38%, 08/15/11
     267,000       278,315  
2.10%, 04/30/12(b)
     1,675,000       1,716,759  
4.88%, 09/15/12
     201,000       210,560  
4.88%, 01/15/13
     451,000       474,675  
4.75%, 08/01/15
     431,000       444,857  
5.25%, 12/01/15
     513,000       540,950  
5.63%, 10/14/16
     440,000       465,913  
5.63%, 07/01/20
     250,000       257,956  
Bank of America Corp., Series L, 5.65%, 05/01/18
     3,635,000       3,805,205  
Block Financial LLC, 7.88%, 01/15/13
     100,000       111,053  
BP Capital Markets America, Inc., 4.20%, 06/15/18
     103,000       94,300  
BSKYB Finance UK PLC, 5.63%, 10/15/15(c)
     103,000       116,728  
Capital One Capital IV, 6.75%, 02/17/37(a)(b)
     135,000       123,862  
Citigroup Funding, Inc., 2.25%, 12/10/12
     4,550,000       4,699,326  
Citigroup, Inc.
                
6.00%, 02/21/12
     103,000       108,908  
5.25%, 02/27/12
     850,000       886,616  
5.63%, 08/27/12
     205,000       214,899  
5.50%, 10/15/14(b)
     1,100,000       1,165,165  
5.30%, 01/07/16(b)
     1,321,000       1,378,682  
5.85%, 08/02/16
     287,000       302,328  
6.63%, 06/15/32
     232,000       228,291  
5.88%, 02/22/33
     82,000       75,899  
5.85%, 12/11/34
     375,000       362,233  
5.88%, 05/29/37
     200,000       194,847  
Deutsche Bank AG, 4.88%, 05/20/13
     1,000,000       1,076,481  
Deutsche Bank Financial LLC, 5.38%, 03/02/15
     123,000       134,030  
EnCana Holdings Finance Corp., 5.80%, 05/01/14
     791,000       894,630  
General Electric Capital Corp.
                
Series A, 5.88%, 02/15/12(b)
     41,000       43,635  
Series A, 6.00%, 06/15/12
     182,000       196,622  
Series A, 6.75%, 03/15/32
     867,000       954,034  
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

4

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide Bond Index Fund
Corporate Bonds (continued)
                 
    Principal     Market  
    Amount     Value  
 
Diversified Financial Services (continued)
                
General Electric Capital Corp.
                
4.88%, 03/04/15
   $ 431,000     $ 467,420  
5.00%, 01/08/16
     205,000       220,608  
5.40%, 02/15/17
     415,000       447,438  
5.63%, 09/15/17(b)
     1,150,000       1,246,248  
6.15%, 08/07/37
     750,000       772,079  
6.38%, 11/15/67(a)
     700,000       668,500  
Goldman Sachs Capital I, 6.35%, 02/15/34(b)
     900,000       839,290  
Goldman Sachs Capital II, 5.79%, 06/01/12(e)
     400,000       320,800  
JPMorgan Chase & Co.
                
6.63%, 03/15/12
     447,000       483,493  
3.70%, 01/20/15
     605,000       630,398  
4.75%, 03/01/15
     176,000       190,199  
5.15%, 10/01/15
     349,000       376,427  
JPMorgan Chase Capital XXV, Series Y, 6.80%, 10/01/37
     3,060,000       3,114,260  
Kreditanstalt fuer Wiederaufbau
                
1.38%, 07/15/13
     900,000       907,549  
3.50%, 03/10/14
     2,085,000       2,227,180  
4.13%, 10/15/14
     492,000       535,077  
4.38%, 07/21/15
     1,405,000       1,548,156  
4.38%, 03/15/18
     800,000       877,383  
Landwirtschaftliche Rentenbank, 5.13%, 02/01/17
     600,000       683,922  
National Rural Utilities Cooperative Finance Corp.
                
4.75%, 03/01/14
     226,000       249,833  
5.45%, 04/10/17
     400,000       452,283  
National Rural Utilities Cooperative Finance Corp., Series C, 8.00%, 03/01/32
     111,000       144,499  
Oesterreichische Kontrollbank AG
                
4.50%, 03/09/15
     414,000       457,376  
4.88%, 02/16/16
     250,000       279,721  
Principal Life Global Funding I, 6.25%, 02/15/12(c)
     150,000       159,586  
Toyota Motor Credit Corp., 4.50%, 06/17/20
     250,000       259,600  
UFJ Finance Aruba AEC, 6.75%, 07/15/13
     246,000       276,313  
 
              
 
             40,746,144  
 
              
Diversified Telecommunication Services 1.2%
                
Ameritech Capital Funding Corp., 6.45%, 01/15/18
     62,000       70,434  
AT&T, Inc.
                
5.88%, 08/15/12
     295,000       322,870  
5.10%, 09/15/14
     597,000       668,798  
5.63%, 06/15/16
     205,000       236,146  
5.50%, 02/01/18
     505,000       569,740  
6.15%, 09/15/34
     814,000       886,784  
6.55%, 02/15/39
     310,000       356,242  
BellSouth Corp.
                
6.00%, 10/15/11
     583,000       618,289  
5.20%, 09/15/14
     349,000       391,902  
6.55%, 06/15/34
     123,000       137,798  
British Telecommunications PLC, 9.88%, 12/15/30
     391,000       508,015  
Deutsche Telekom International Finance BV
                
5.25%, 07/22/13(b)
     513,000       559,315  
5.75%, 03/23/16
     273,000       306,728  
8.75%, 06/15/30
     256,000       345,208  
Embarq Corp., 7.08%, 06/01/16
     92,000       99,651  
France Telecom SA, 8.50%, 03/01/31
     283,000       393,953  
GTE Corp.
                
6.84%, 04/15/18
     144,000       167,669  
6.94%, 04/15/28
     103,000       116,155  
Qwest Corp., 8.38%, 05/01/16
     925,000       1,052,187  
Telecom Italia Capital SA
                
6.20%, 07/18/11
     144,000       149,759  
4.95%, 09/30/14
     205,000       214,399  
5.25%, 10/01/15
     730,000       768,738  
6.00%, 09/30/34(b)
     160,000       149,069  
Telefonica Emisiones SAU, 6.42%, 06/20/16
     1,080,000       1,227,983  
Telefonos de Mexico SAB de CV, 5.50%, 01/27/15
     164,000       181,671  
Verizon Communications, Inc.
                
4.90%, 09/15/15
     410,000       457,014  
8.75%, 11/01/18
     600,000       792,060  
6.35%, 04/01/19
     650,000       768,805  
5.85%, 09/15/35
     82,000       86,488  
Verizon Global Funding Corp.
                
6.88%, 06/15/12
     205,000       226,762  
7.38%, 09/01/12
     363,000       409,566  
4.38%, 06/01/13
     256,000       278,320  
7.75%, 12/01/30
     810,000       1,033,965  
 
              
 
             14,552,483  
 
              
Electric Utilities 1.5%
                
Alabama Power Co., 5.70%, 02/15/33
     276,000       300,872  
American Electric Power Co., Inc., 5.25%, 06/01/15
     133,000       146,992  
Appalachian Power Co., Series L, 5.80%, 10/01/35
     144,000       148,303  
Arizona Public Service Co., 5.50%, 09/01/35
     150,000       143,569  
Baltimore Gas & Electric Co., 5.90%, 10/01/16
     615,000       716,570  
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

5

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide Bond Index Fund
Corporate Bonds (continued)
                 
    Principal     Market  
    Amount     Value  
 
Electric Utilities (continued)
                
Cleveland Electric Illuminating Co. (The), 5.50%, 08/15/24
   $ 200,000     $ 218,303  
Commonwealth Edison Co., Series 98, 6.15%, 03/15/12
     82,000       88,393  
Commonwealth Edison Co., 6.15%, 09/15/17
     750,000       873,812  
Consolidated Edison Co. of New York, Inc., Series 02-B, 4.88%, 02/01/13
     86,000       93,569  
Consolidated Edison Co. of New York, Inc., Series 05-C, 5.38%, 12/15/15
     123,000       140,333  
Consolidated Edison Co. of New York, Inc., Series 08-A, 5.85%, 04/01/18
     2,200,000       2,527,521  
Consolidated Edison Co. of New York, Inc., Series 03-A, 5.88%, 04/01/33
     82,000       90,158  
Duke Energy Carolinas LLC
                
6.25%, 01/15/12
     970,000       1,043,653  
4.30%, 06/15/20
     500,000       534,958  
Duke Energy Corp., 5.05%, 09/15/19
     600,000       654,541  
Duke Energy Indiana, Inc., 3.75%, 07/15/20
     100,000       101,688  
Duke Energy Ohio, Inc., 5.70%, 09/15/12
     29,000       31,364  
Duke Energy Ohio, Inc., Series A, 5.40%, 06/15/33
     51,000       51,824  
Entergy Gulf States, Inc., 5.25%, 08/01/15
     56,000       56,082  
Entergy Mississippi, Inc., 5.15%, 02/01/13
     201,000       215,290  
Exelon Corp.
                
4.90%, 06/15/15
     287,000       311,538  
5.63%, 06/15/35
     414,000       411,119  
FirstEnergy Corp., Series C, 7.38%, 11/15/31
     287,000       314,740  
Florida Power & Light Co.
                
4.85%, 02/01/13
     103,000       112,002  
5.85%, 02/01/33
     70,000       77,708  
5.95%, 10/01/33
     53,000       59,645  
5.40%, 09/01/35
     90,000       96,765  
5.65%, 02/01/37
     200,000       221,264  
Florida Power Corp., 5.90%, 03/01/33
     247,000       268,869  
Georgia Power Co., Series K, 5.13%, 11/15/12
     74,000       80,419  
Metropolitan Edison Co., 4.88%, 04/01/14
     164,000       174,298  
MidAmerican Energy Co., 5.80%, 10/15/36
     200,000       217,742  
MidAmerican Energy Holdings Co.
                
5.88%, 10/01/12
     841,000       915,941  
5.75%, 04/01/18
     750,000       853,986  
New York State Electric & Gas Corp., 5.75%, 05/01/23
     41,000       38,844  
Ohio Power Co., Series K, 6.00%, 06/01/16
     349,000       400,598  
Ohio Power Co., Series G, 6.60%, 02/15/33
     164,000       186,975  
Oncor Electric Delivery Co. LLC
                
6.38%, 05/01/12
     383,000       413,904  
6.38%, 01/15/15
     308,000       353,084  
Pacific Gas & Electric Co.
                
4.80%, 03/01/14(b)
     328,000       360,757  
5.80%, 03/01/37
     150,000       165,718  
6.25%, 03/01/39
     300,000       350,732  
PacifiCorp, 5.25%, 06/15/35
     123,000       125,105  
Pepco Holdings, Inc., 7.45%, 08/15/32
     82,000       96,684  
Progress Energy, Inc., 7.75%, 03/01/31
     164,000       214,033  
PSEG Power LLC
                
6.95%, 06/01/12
     51,000       55,689  
5.50%, 12/01/15
     287,000       320,603  
Public Service Co. of Colorado, Series 15, 5.50%, 04/01/14
     174,000       196,051  
Public Service Electric & Gas Co., Series B, 5.13%, 09/01/12
     135,000       145,380  
Puget Sound Energy, Inc., 5.48%, 06/01/35
     103,000       103,773  
Scottish Power Ltd., 5.81%, 03/15/25
     82,000       80,437  
Southern California Edison Co., 6.00%, 01/15/34
     123,000       141,226  
Southern California Edison Co., Series 05-B, 5.55%, 01/15/36
     164,000       178,722  
Southern Power Co., Series B, 6.25%, 07/15/12
     174,000       190,139  
Virginia Electric and Power Co., Series A, 5.40%, 01/15/16
     103,000       115,903  
Virginia Electric and Power Co., 5.95%, 09/15/17
     750,000       869,558  
Westar Energy, Inc., 6.00%, 07/01/14
     185,000       209,722  
Wisconsin Electric Power Co., 5.63%, 05/15/33
     41,000       44,888  
 
              
 
             17,652,356  
 
              
Electrical Equipment 0.0%†
                
Emerson Electric Co., 6.00%, 08/15/32
     57,000       65,727  
 
              
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

6

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide Bond Index Fund
Corporate Bonds (continued)
                 
    Principal     Market  
    Amount     Value  
 
Electronic Equipment, Instruments & Components 0.1%
                
Agilent Technologies, Inc., 6.50%, 11/01/17
   $ 575,000     $ 653,932  
Avnet Inc, 5.88%, 06/15/20
     250,000       255,903  
 
              
 
             909,835  
 
              
Energy Equipment & Services 0.1%
                
Anadarko Finance Co., Series B, 7.50%, 05/01/31
     207,000       201,873  
EOG Resources, Inc., 5.63%, 06/01/19
     130,000       149,141  
Halliburton Co., 6.70%, 09/15/38
     325,000       380,458  
Nabors Industries, Inc., 5.38%, 08/15/12
     29,000       30,804  
Transocean, Inc., 7.50%, 04/15/31
     123,000       115,781  
 
              
 
             878,057  
 
              
Food & Staples Retailing 0.4%
                
Costco Wholesale Corp., 5.50%, 03/15/17
     475,000       550,872  
CVS Caremark Corp., 6.25%, 06/01/27
     460,000       504,969  
Kroger Co. (The)
                
6.20%, 06/15/12
     164,000       178,324  
7.50%, 04/01/31
     178,000       224,698  
5.40%, 07/15/40
     400,000       402,356  
Safeway, Inc.
                
5.80%, 08/15/12
     144,000       156,318  
5.63%, 08/15/14
     123,000       136,645  
5.00%, 08/15/19
     155,000       168,610  
3.95%, 08/15/20
     100,000       100,722  
Sysco Corp., 5.38%, 09/21/35
     74,000       79,044  
Wal-Mart Stores, Inc.
                
5.00%, 04/05/12
     1,300,000       1,388,969  
3.20%, 05/15/14
     500,000       530,103  
3.63%, 07/08/20
     400,000       401,955  
7.55%, 02/15/30
     82,000       108,123  
5.25%, 09/01/35
     492,000       512,326  
 
              
 
             5,444,034  
 
              
Food Products 0.3%
                
Archer-Daniels-Midland Co.
                
5.94%, 10/01/32
     140,000       158,829  
5.38%, 09/15/35
     103,000       108,941  
Bunge Ltd. Finance Corp., 5.10%, 07/15/15
     62,000       65,593  
Cadbury Schweppes US Finance LLC, 5.13%, 10/01/13(c)
     123,000       134,508  
Campbell Soup Co., 4.88%, 10/01/13
     164,000       182,948  
ConAgra Foods, Inc.
                
6.75%, 09/15/11
     7,000       7,409  
7.00%, 10/01/28
     154,000       180,695  
General Mills, Inc., 6.00%, 02/15/12
     185,000       198,837  
H.J. Heinz Finance Co.
                
6.00%, 03/15/12
     150,000       160,926  
6.75%, 03/15/32
     62,000       70,868  
Kellogg Co., Series B, 7.45%, 04/01/31
     103,000       135,265  
Kraft Foods, Inc.
                
5.63%, 11/01/11
     326,000       341,927  
6.00%, 02/11/13
     200,000       221,158  
6.13%, 02/01/18
     375,000       433,083  
6.50%, 11/01/31
     131,000       147,281  
7.00%, 08/11/37
     310,000       374,024  
6.88%, 02/01/38
     300,000       356,197  
Sara Lee Corp., 6.25%, 09/15/11
     174,000       183,718  
Unilever Capital Corp., 5.90%, 11/15/32
     144,000       166,232  
 
              
 
             3,628,439  
 
              
Gas Utilities 0.2%
                
AGL Capital Corp., 4.45%, 04/15/13
     123,000       129,836  
Atmos Energy Corp.
                
5.13%, 01/15/13
     92,000       99,463  
4.95%, 10/15/14
     185,000       202,198  
CenterPoint Energy Resources Corp., Series B, 7.88%, 04/01/13
     246,000       283,744  
Consolidated Natural Gas Co., Series A, 5.00%, 12/01/14
     396,000       437,239  
Enbridge Energy Partners LP, 5.20%, 03/15/20
     250,000       262,587  
Enterprise Products Operating LLC, Series G, 5.60%, 10/15/14
     656,000       727,133  
Enterprise Products Operating LLC, 6.13%, 10/15/39
     215,000       226,006  
Southern California Gas Co., 4.80%, 10/01/12
     267,000       285,026  
Williams Partners LP, 5.25%, 03/15/20
     250,000       266,966  
 
              
 
             2,920,198  
 
              
Health Care Equipment & Supplies 0.2%
                
Baxter International, Inc.
                
4.63%, 03/15/15
     53,000       58,855  
5.38%, 06/01/18
     835,000       960,331  
Covidien International Finance SA, 6.00%, 10/15/17
     940,000       1,098,934  
 
              
 
             2,118,120  
 
              
Health Care Providers & Services 0.2%
                
Aetna, Inc., 6.00%, 06/15/16
     650,000       749,715  
Quest Diagnostics, Inc., 5.45%, 11/01/15
     376,000       416,889  
UnitedHealth Group, Inc.
                
5.38%, 03/15/16
     205,000       229,816  
5.80%, 03/15/36
     417,000       424,815  
WellPoint, Inc.
                
5.00%, 12/15/14
     598,000       653,727  
5.25%, 01/15/16
     226,000       249,460  
5.95%, 12/15/34
     82,000       83,158  
 
              
 
             2,807,580  
 
              
Hotels, Restaurants & Leisure 0.1%
                
McDonald’s Corp.
                
5.35%, 03/01/18
     240,000       276,579  
4.88%, 07/15/40
     400,000       402,843  
Yum! Brands, Inc., 6.88%, 11/15/37
     400,000       467,088  
 
              
 
             1,146,510  
 
              
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

7

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide Bond Index Fund
Corporate Bonds (continued)
                 
    Principal     Market  
    Amount     Value  
 
Household Durables 0.1%
                
Black & Decker Corp., 4.75%, 11/01/14
   $ 160,000     $ 174,061  
Fortune Brands, Inc., 5.38%, 01/15/16
     585,000       633,523  
MDC Holdings, Inc., 5.50%, 05/15/13
     103,000       106,228  
Toll Brothers Finance Corp., 6.88%, 11/15/12
     5,000       5,323  
 
              
 
             919,135  
 
              
Household Products 0.1%
                
Kimberly-Clark Corp.
                
5.63%, 02/15/12
     205,000       219,624  
4.88%, 08/15/15
     710,000       805,519  
Procter & Gamble Co. (The)
                
4.85%, 12/15/15
     123,000       140,333  
5.80%, 08/15/34
     405,000       464,908  
 
              
 
             1,630,384  
 
              
Industrial Conglomerates 0.1%
                
3M Co., 5.70%, 03/15/37
     235,000       269,437  
General Electric Co., 5.00%, 02/01/13
     946,000       1,024,814  
 
              
 
             1,294,251  
 
              
Information Technology Services 0.1%
                
International Business Machines Corp.
                
4.75%, 11/29/12
     359,000       391,750  
5.88%, 11/29/32
     732,000       828,153  
 
              
 
             1,219,903  
 
              
Insurance 0.9%
                
ACE INA Holdings, Inc., 5.88%, 06/15/14
     390,000       437,454  
AIG Life Holdings US, Inc., 7.50%, 07/15/25
     103,000       106,090  
Allstate Corp. (The)
                
6.13%, 02/15/12
     176,000       188,300  
7.50%, 06/15/13
     425,000       486,494  
6.13%, 12/15/32(b)
     82,000       87,038  
5.55%, 05/09/35
     62,000       62,532  
5.95%, 04/01/36
     82,000       87,502  
6.13%, 05/15/37(a)
     145,000       132,494  
6.50%, 05/15/57(a)
     145,000       132,675  
American International Group, Inc.
                
5.05%, 10/01/15
     103,000       98,623  
5.60%, 10/18/16
     290,000       277,675  
5.85%, 01/16/18
     500,000       475,000  
Berkshire Hathaway Finance Corp., 4.85%, 01/15/15
     1,326,000       1,476,815  
Chubb Corp.
                
6.00%, 05/11/37
     225,000       249,093  
6.38%, 03/29/67(a)
     300,000       292,500  
Genworth Financial, Inc.
                
5.75%, 06/15/14
     62,000       63,421  
6.50%, 06/15/34
     144,000       130,174  
Hartford Financial Services Group, Inc.
                
4.75%, 03/01/14
     82,000       84,662  
6.10%, 10/01/41
     41,000       35,694  
Infinity Property & Casualty Corp., Series B, 5.50%, 02/18/14
     82,000       84,233  
Lincoln National Corp., 6.15%, 04/07/36
     410,000       398,121  
Marsh & McLennan Cos., Inc.
                
6.25%, 03/15/12
     72,000       75,998  
5.75%, 09/15/15
     327,000       352,744  
MetLife, Inc.
                
6.13%, 12/01/11
     445,000       470,241  
5.50%, 06/15/14
     185,000       202,493  
5.70%, 06/15/35
     336,000       341,985  
6.40%, 12/15/36
     350,000       324,625  
Nationwide Financial Services, Inc., 6.75%, 05/15/37(f)
     75,000       60,143  
Nationwide Mutual Insurance Co., 5.81%, 12/15/24(a)(c)(f)
     205,000       179,402  
NLV Financial Corp., 7.50%, 08/15/33(c)
     51,000       44,379  
Progressive Corp. (The), 6.25%, 12/01/32
     113,000       118,290  
Prudential Financial, Inc.
                
5.10%, 12/14/11
     515,000       540,656  
5.38%, 06/21/20
     250,000       259,721  
Prudential Financial, Inc.
                
Series B, 5.10%, 09/20/14
     205,000       219,708  
Series B, 5.75%, 07/15/33(b)
     103,000       99,189  
RLI Corp., 5.95%, 01/15/14
     82,000       86,119  
Travelers Cos., Inc. (The)
                
5.75%, 12/15/17
     340,000       379,482  
6.25%, 03/15/37(a)
     300,000       284,322  
Travelers Property Casualty Corp., 6.38%, 03/15/33
     133,000       147,394  
Willis North America, Inc., 5.63%, 07/15/15
     123,000       130,417  
XL Group PLC, 5.25%, 09/15/14
     541,000       571,410  
 
              
 
             10,275,308  
 
              
Machinery 0.1%
                
Caterpillar, Inc.
                
7.30%, 05/01/31
     70,000       90,846  
6.05%, 08/15/36
     123,000       144,081  
Deere & Co.
                
6.95%, 04/25/14
     400,000       475,083  
8.10%, 05/15/30
     400,000       542,827  
Dover Corp., 4.88%, 10/15/15
     156,000       176,531  
Stanley Black & Decker, Inc., 4.90%, 11/01/12
     92,000       98,371  
 
              
 
             1,527,739  
 
              
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

8

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide Bond Index Fund
Corporate Bonds (continued)
                 
    Principal     Market  
    Amount     Value  
 
Media 1.0%
                
CBS Corp.
                
5.63%, 08/15/12
   $ 310,000     $ 331,959  
7.88%, 07/30/30
     55,000       65,474  
5.50%, 05/15/33
     82,000       78,405  
Comcast Cable Communications Holdings, Inc.
                
8.38%, 03/15/13
     164,000       191,063  
9.46%, 11/15/22
     82,000       113,301  
Comcast Cable Holdings LLC, 9.80%, 02/01/12
     213,000       238,595  
Comcast Corp.
                
5.90%, 03/15/16
     287,000       329,266  
6.50%, 01/15/17
     507,000       590,692  
5.70%, 07/01/19
     300,000       335,341  
7.05%, 03/15/33
     205,000       239,710  
6.50%, 11/15/35
     70,000       77,877  
6.95%, 08/15/37
     205,000       241,159  
COX Communications, Inc.
                
5.45%, 12/15/14
     246,000       276,035  
5.50%, 10/01/15
     667,000       746,214  
Discovery Communications LLC, 5.05%, 06/01/20(b)
     250,000       266,120  
Historic TW, Inc., 6.88%, 06/15/18
     122,000       144,942  
NBC Universal, Inc., 5.15%, 04/30/20(c)
     250,000       265,723  
News America Holdings, Inc.
                
9.25%, 02/01/13
     82,000       96,335  
8.00%, 10/17/16
     82,000       101,762  
News America, Inc.
                
5.30%, 12/15/14
     433,000       485,592  
7.28%, 06/30/28
     53,000       58,440  
6.55%, 03/15/33
     450,000       492,412  
6.20%, 12/15/34
     170,000       179,256  
Omnicom Group, Inc., 5.90%, 04/15/16
     123,000       140,527  
Time Warner Cable, Inc.
                
6.20%, 07/01/13
     500,000       563,954  
6.75%, 07/01/18
     415,000       484,744  
8.25%, 04/01/19
     900,000       1,130,371  
6.75%, 06/15/39(b)
     500,000       569,437  
Time Warner, Inc.
                
7.63%, 04/15/31
     773,000       933,483  
7.70%, 05/01/32
     648,000       791,861  
Viacom, Inc.
                
6.25%, 04/30/16
     351,000       404,771  
6.88%, 04/30/36
     226,000       259,678  
Walt Disney Co. (The)
                
Series B, 6.38%, 03/01/12
     97,000       105,404  
Series B, 6.20%, 06/20/14
     687,000       805,512  
 
              
 
             12,135,415  
 
              
Metals & Mining 0.5%
                
Alcoa, Inc, 5.38%, 01/15/13
     250,000       265,752  
Alcoa, Inc., 5.87%, 02/23/22
     335,000       328,392  
ArcelorMittal, 6.13%, 06/01/18
     1,940,000       2,104,966  
Barrick Gold Finance Co., 4.88%, 11/15/14
     1,060,000       1,157,921  
BHP Billiton Finance USA Ltd., 5.25%, 12/15/15
     225,000       257,794  
Newmont Mining Corp., 5.88%, 04/01/35
     164,000       174,608  
Placer Dome, Inc., 6.38%, 03/01/33
     96,000       107,758  
Rio Tinto Alcan, Inc.
                
5.00%, 06/01/15
     205,000       220,797  
5.75%, 06/01/35
     144,000       150,633  
Rio Tinto Finance USA Ltd., 5.88%, 07/15/13
     500,000       555,710  
Vale Overseas Ltd., 6.88%, 11/21/36
     556,000       614,600  
 
              
 
             5,938,931  
 
              
Multiline Retail 0.1%
                
Target Corp.
                
6.00%, 01/15/18
     300,000       354,924  
7.00%, 07/15/31
     121,000       143,081  
6.35%, 11/01/32
     217,000       251,693  
 
              
 
             749,698  
 
              
Multi-Utilities 0.2%
                
Dominion Resources, Inc.
                
5.70%, 09/17/12
     113,000       122,481  
5.20%, 08/15/19
     100,000       111,775  
Dominion Resources, Inc., Series E, 6.30%, 03/15/33
     308,000       351,519  
Dominion Resources, Inc., Series B, 5.95%, 06/15/35
     174,000       192,938  
DTE Energy Co., 6.35%, 06/01/16
     287,000       329,797  
SCANA Corp., 6.25%, 02/01/12
     103,000       109,788  
Sempra Energy, 6.00%, 10/15/39
     540,000       589,225  
Xcel Energy, Inc.
                
5.61%, 04/01/17
     173,000       191,214  
6.50%, 07/01/36
     123,000       143,140  
 
              
 
             2,141,877  
 
              
Office Electronics 0.0%†
                
Xerox Corp., 5.50%, 05/15/12
     250,000       266,112  
 
              
Oil, Gas & Consumable Fuels 1.2%
                
Anadarko Petroleum Corp., 6.45%, 09/15/36
     269,000       241,892  
Apache Corp.
                
6.25%, 04/15/12
     160,000       171,994  
7.63%, 07/01/19
     41,000       51,240  
Apache Finance Canada Corp., 4.38%, 05/15/15
     238,000       259,328  
Boardwalk Pipelines LP, 5.20%, 06/01/18
     62,000       64,049  
BP Capital Markets PLC, 3.88%, 03/10/15(b)
     700,000       669,171  
Canadian Natural Resources Ltd., 6.25%, 03/15/38
     660,000       737,225  
Cenovus Energy, Inc., 5.70%, 10/15/19
     770,000       869,411  
Chevron Corp., 3.95%, 03/03/14
     415,000       448,644  
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

9

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide Bond Index Fund
Corporate Bonds (continued)
                 
    Principal     Market  
    Amount     Value  
 
Oil, Gas & Consumable Fuels (continued)
                
Conoco Funding Co., 6.35%, 10/15/11
   $ 408,000     $ 434,646  
ConocoPhillips
                
4.75%, 10/15/12
     270,000       290,406  
4.60%, 01/15/15
     450,000       498,532  
5.90%, 10/15/32
     123,000       137,025  
6.50%, 02/01/39
     300,000       372,219  
ConocoPhillips Australia Funding Co., 5.50%, 04/15/13
     226,000       250,047  
Devon Energy Corp., 7.95%, 04/15/32
     250,000       334,790  
Devon Financing Corp. ULC, 6.88%, 09/30/11
     297,000       315,081  
Hess Corp., 7.30%, 08/15/31
     196,000       233,869  
Kinder Morgan Energy Partners LP
                
6.75%, 03/15/11
     64,000       66,121  
5.00%, 12/15/13
     1,000,000       1,079,003  
6.85%, 02/15/20
     675,000       799,707  
5.80%, 03/15/35
     144,000       143,056  
Marathon Oil Corp., 6.80%, 03/15/32
     82,000       91,156  
Murphy Oil Corp., 6.38%, 05/01/12
     41,000       43,504  
Occidental Petroleum Corp.
                
6.75%, 01/15/12
     185,000       200,126  
7.00%, 11/01/13
     250,000       293,217  
Pemex Project Funding Master Trust, 6.63%, 06/15/35
     701,000       737,811  
Petrobras International Finance Co., 5.75%, 01/20/20
     1,080,000       1,148,227  
Plains All American Pipeline LP/PAA Finance Corp.
                
5.63%, 12/15/13
     230,000       249,601  
3.95%, 09/15/15
     200,000       204,751  
PTT PCL, 5.88%, 08/03/35(c)
     123,000       124,584  
Shell International Finance BV, 6.38%, 12/15/38
     600,000       733,008  
Spectra Energy Capital LLC, 6.75%, 02/15/32
     123,000       139,971  
Texas Gas Transmission LLC, 4.60%, 06/01/15
     123,000       130,355  
Total Capital SA, 4.45%, 06/24/20(b)
     250,000       264,828  
Valero Energy Corp.
                
6.88%, 04/15/12
     260,000       279,295  
7.50%, 04/15/32
     82,000       89,336  
6.63%, 06/15/37(b)
     320,000       336,353  
XTO Energy, Inc.
                
5.30%, 06/30/15
     195,000       224,430  
5.65%, 04/01/16
     82,000       95,818  
6.50%, 12/15/18
     140,000       172,389  
 
              
 
             14,026,216  
 
              
Paper & Forest Products 0.2%
                
Celulosa Arauco y Constitucion SA, 5.13%, 07/09/13(b)
     123,000       130,406  
International Paper Co.
                
5.85%, 10/30/12
     30,000       32,464  
5.30%, 04/01/15
     144,000       156,659  
9.38%, 05/15/19
     1,515,000       1,969,874  
Inversiones CMPC SA, 4.88%, 06/18/13(c)
     123,000       129,100  
 
              
 
             2,418,503  
 
              
Pharmaceuticals 1.0%
                
Abbott Laboratories
                
2.70%, 05/27/15
     250,000       260,210  
5.88%, 05/15/16
     334,000       395,702  
6.00%, 04/01/39
     300,000       348,451  
AstraZeneca PLC
                
5.40%, 06/01/14
     155,000       174,937  
5.90%, 09/15/17
     300,000       353,100  
6.45%, 09/15/37
     140,000       173,163  
Bristol-Myers Squibb Co., 5.25%, 08/15/13
     825,000       918,126  
Eli Lilly & Co.
                
6.00%, 03/15/12
     205,000       222,681  
5.20%, 03/15/17
     800,000       909,849  
7.13%, 06/01/25
     82,000       106,508  
GlaxoSmithKline Capital, Inc.
                
4.85%, 05/15/13
     1,500,000       1,644,087  
5.65%, 05/15/18
     940,000       1,087,405  
5.38%, 04/15/34
     139,000       146,777  
Johnson & Johnson, 4.95%, 05/15/33
     537,000       557,911  
Merck & Co., Inc.
                
4.75%, 03/01/15
     396,000       443,410  
6.40%, 03/01/28
     51,000       61,513  
5.95%, 12/01/28
     113,000       131,178  
Novartis Capital Corp., 4.13%, 02/10/14
     275,000       299,667  
Novartis Securities Investment Ltd., 5.13%, 02/10/19
     330,000       372,905  
Pfizer, Inc.
                
5.35%, 03/15/15
     550,000       628,720  
4.65%, 03/01/18
     185,000       202,543  
7.20%, 03/15/39
     375,000       503,356  
Pharmacia Corp., 6.60%, 12/01/28
     123,000       146,756  
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

10

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide Bond Index Fund
Corporate Bonds (continued)
                 
    Principal     Market  
    Amount     Value  
 
Pharmaceuticals (continued)
                
Schering-Plough Corp., 5.30%, 12/01/13
   $ 800,000     $ 899,749  
Teva Pharmaceutical Finance Co. LLC, 6.15%, 02/01/36
     98,000       115,610  
Wyeth
                
5.50%, 02/01/14
     472,000       534,065  
5.50%, 02/15/16
     241,000       279,026  
6.50%, 02/01/34
     144,000       175,022  
 
              
 
             12,092,427  
 
              
Real Estate Investment Trusts (REITs) 0.3%
                
AvalonBay Communities, Inc., 6.63%, 09/15/11
     28,000       29,350  
Boston Properties LP
                
5.00%, 06/01/15
     360,000       379,908  
5.63%, 11/15/20
     350,000       375,496  
Camden Property Trust, 5.00%, 06/15/15
     103,000       108,688  
CommonWealth REIT, 5.75%, 02/15/14
     123,000       128,268  
ERP Operating LP
                
5.25%, 09/15/14
     278,000       303,671  
5.38%, 08/01/16
     205,000       222,575  
HCP, Inc.
                
6.45%, 06/25/12
     39,000       41,529  
6.00%, 01/30/17
     328,000       340,343  
Health Care REIT, Inc., 6.00%, 11/15/13
     123,000       134,534  
Hospitality Properties Trust, 6.75%, 02/15/13
     525,000       558,391  
Liberty Property LP, 7.25%, 03/15/11
     27,000       27,791  
Simon Property Group LP
                
5.10%, 06/15/15
     294,000       320,903  
6.10%, 05/01/16
     287,000       325,740  
 
              
 
             3,297,187  
 
              
Road & Rail 0.2%
                
Burlington Northern Santa Fe LLC, 7.95%, 08/15/30
     144,000       187,343  
CSX Corp.
                
5.50%, 08/01/13
     308,000       337,996  
7.38%, 02/01/19
     305,000       377,504  
Norfolk Southern Corp.
                
5.59%, 05/17/25
     59,000       63,786  
7.25%, 02/15/31
     87,000       107,625  
Union Pacific Corp.
                
5.13%, 02/15/14
     1,000,000       1,101,838  
5.38%, 06/01/33
     43,000       42,395  
6.25%, 05/01/34
     164,000       183,519  
 
              
 
             2,402,006  
 
              
Software 0.2%
                
Microsoft Corp., 2.95%, 06/01/14
     300,000       316,611  
Oracle Corp.
                
3.75%, 07/08/14
     905,000       975,633  
5.25%, 01/15/16
     548,000       627,591  
5.00%, 07/08/19
     100,000       111,739  
5.38%, 07/15/40(c)
     200,000       203,445  
 
              
 
             2,235,019  
 
              
Specialty Retail 0.1%
                
Home Depot, Inc.
                
5.25%, 12/16/13
     200,000       221,226  
5.40%, 03/01/16
     410,000       459,952  
5.88%, 12/16/36
     230,000       236,393  
Lowe’s Cos., Inc.
                
6.50%, 03/15/29
     164,000       190,888  
5.80%, 10/15/36
     230,000       250,997  
 
              
 
             1,359,456  
 
              
Thrifts & Mortgage Finance 0.0%†
                
Golden West Financial Corp., 4.75%, 10/01/12
     109,000       113,981  
 
              
Tobacco 0.2%
                
Altria Group, Inc.
                
9.70%, 11/10/18
     600,000       786,095  
9.25%, 08/06/19
     400,000       514,651  
10.20%, 02/06/39
     420,000       593,200  
Philip Morris International, Inc.
                
5.65%, 05/16/18
     300,000       338,258  
6.38%, 05/16/38
     150,000       178,735  
 
              
 
             2,410,939  
 
              
Wireless Telecommunication Services 0.3%
                
America Movil SAB de CV
                
5.75%, 01/15/15(b)
     155,000       175,399  
6.38%, 03/01/35(b)
     123,000       136,568  
AT&T Mobility LLC, 7.13%, 12/15/31
     287,000       344,062  
Cellco Partnership/Verizon Wireless Capital LLC, 7.38%, 11/15/13
     800,000       950,587  
New Cingular Wireless Services, Inc.
                
8.13%, 05/01/12
     31,000       34,743  
8.75%, 03/01/31
     224,000       312,757  
Rogers Communications, Inc., 7.25%, 12/15/12
     540,000       611,105  
Vodafone Group PLC
                
5.00%, 12/16/13
     461,000       503,360  
4.15%, 06/10/14
     530,000       562,957  
7.88%, 02/15/30
     144,000       179,096  
6.15%, 02/27/37
     75,000       80,371  
 
              
 
             3,891,005  
 
              
Total Corporate Bonds
(cost $211,061,521)
             228,581,225  
 
              
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

11

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide Bond Index Fund
Municipal Bonds 0.6%
                 
    Principal     Market  
    Amount     Value  
 
California 0.2%
                
Los Angeles Community College District, 6.75%, 08/01/49
     200,000       208,318  
State of California, 7.55%, 04/01/39
     2,025,000       2,280,251  
 
              
 
             2,488,569  
 
              
Illinois 0.2%
                
State of Illinois, 5.10%, 06/01/33
     2,835,000       2,302,133  
New Jersey 0.1%
                
New Jersey State Turnpike Authority, Series F, 7.41%, 01/01/40
     715,000       874,252  
New York 0.1%
                
Metropolitan Transportation Authority, 7.34%, 11/15/39
     105,000       126,164  
Port Authority of New York & New Jersey, 6.04%, 12/01/29
     460,000       495,701  
 
              
 
             621,865  
 
              
Texas 0.0%†
                
City of Dallas, Series C, 5.50%, 02/15/24(a)
     492,000       492,079  
 
              
Total Municipal Bonds
(cost $6,653,333)
             6,778,898  
 
              
U.S. Government Mortgage Backed Agencies 32.7%
                 
    Principal     Market  
    Amount     Value  
 
Fannie Mae Pool
                
Pool# 961563
                
5.00%, 02/01/23
   $ 978,831     $ 1,046,695  
Pool# 969977
                
5.00%, 05/01/23
     5,578,471       5,965,237  
Pool# 990972
                
6.00%, 09/01/23
     525,578       571,059  
Pool# AA2549
                
4.00%, 04/01/24
     6,292,393       6,597,214  
Pool# 935348
                
5.50%, 06/01/24
     303,880       329,020  
Pool# AC1374
                
4.00%, 08/01/24
     760,267       797,683  
Pool# AC1529
                
4.50%, 09/01/24
     507,648       538,894  
Pool# AC5377
                
4.50%, 10/01/24
     1,241,837       1,318,274  
Pool# AD4089
                
4.50%, 05/01/25
     2,968,410       3,149,729  
Pool# 560868
                
7.50%, 02/01/31
     1,851       2,118  
Pool# 607212
                
7.50%, 10/01/31
     35,575       40,702  
Pool# 607559
                
6.50%, 11/01/31
     1,377       1,539  
Pool# 607632
                
6.50%, 11/01/31
     300       335  
Pool# 661664
                
7.50%, 09/01/32
     19,118       21,883  
Pool# 656559
                
6.50%, 02/01/33
     133,366       149,017  
Pool# 694846
                
6.50%, 04/01/33
     23,087       25,738  
Pool# 555421
                
5.00%, 05/01/33
     21,040,759       22,525,403  
Pool# 254767
                
5.50%, 06/01/33
     6,463,309       6,997,367  
Pool# 750229
                
6.50%, 10/01/33
     120,984       134,879  
Pool# 725424
                
5.50%, 04/01/34
     7,849,796       8,498,419  
Pool# 788027
                
6.50%, 09/01/34
     107,671       119,499  
Pool# 735141
                
5.50%, 01/01/35
     4,064,174       4,394,914  
Pool# 735227
                
5.50%, 02/01/35
     4,300,009       4,649,940  
Pool# 256023
                
6.00%, 12/01/35
     3,117,215       3,402,668  
Pool# 888596
                
6.50%, 07/01/37
     6,478,816       7,111,583  
Pool# 995050
                
6.00%, 09/01/37
     19,059,277       20,756,949  
Pool# 955194
                
7.00%, 11/01/37
     2,011,089       2,244,189  
Pool# 889072
                
6.50%, 12/01/37
     1,000,685       1,098,419  
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

12

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide Bond Index Fund
U.S. Government Mortgage Backed Agencies (continued)
                 
    Principal     Market  
    Amount     Value  
 
Fannie Mae Pool (continued)
                
Pool# 970320
                
5.50%, 02/01/38
   $ 4,841,501     $ 5,222,367  
Pool# AA6013
                
4.50%, 05/01/39
     8,105,726       8,487,386  
Pool# 190396
                
4.50%, 06/01/39
     8,532,247       8,933,989  
Pool# AA9611
                
4.00%, 07/01/39
     4,340,933       4,454,439  
Pool# AA9393
                
4.50%, 07/01/39
     14,447,095       15,127,338  
Pool# AA9809
                
4.50%, 07/01/39
     10,561,713       11,059,013  
Pool# 994002
                
4.00%, 08/01/39
     3,527,087       3,619,312  
Pool# AC1454
                
4.00%, 08/01/39
     4,845,766       4,972,472  
Pool# AC3486
                
4.50%, 08/01/39
     5,712,321       5,983,964  
Pool# AC1921
                
4.00%, 09/01/39
     2,928,421       3,004,993  
Pool# AC2651
                
4.00%, 10/01/39
     1,082,313       1,110,613  
Pool# 932274
                
4.50%, 12/01/39
     2,576,024       2,697,317  
Pool# AC8512
                
4.50%, 12/01/39
     7,705,469       8,068,282  
Pool# AC9895
                
3.29%, 04/01/40(a)
     5,796,093       5,996,314  
Pool# AC9890
                
3.30%, 04/01/40(a)
     8,337,122       8,627,264  
Pool# AD2888
                
4.50%, 04/01/40
     3,161,333       3,309,691  
Pool# AD7992
                
4.50%, 07/01/40
     3,400,000       3,559,558  
Fannie Mae Pool TBA 5.00%, 08/25/25
     4,000,000       4,272,500  
Freddie Mac Gold Pool
                
Pool# E00394
                
7.50%, 09/01/10
     251       253  
Pool# M80898
                
4.50%, 02/01/11
     117,771       120,182  
Pool# M80904
                
4.50%, 03/01/11
     79,165       80,785  
Pool# M80917
                
4.50%, 05/01/11
     19,057       19,060  
Pool# M80926
                
4.50%, 07/01/11
     74,222       75,619  
Pool# M80934
                
4.50%, 08/01/11
     105,057       107,208  
Pool# G10940
                
6.50%, 11/01/11
     842       850  
Pool# G11130
                
6.00%, 12/01/11
     6,944       7,096  
Pool# M80981
                
4.50%, 07/01/12
     45,823       47,013  
Pool# E00507
                
7.50%, 09/01/12
     563       596  
Pool# G10749
                
6.00%, 10/01/12
     13,350       14,426  
Pool# M81009
                
4.50%, 02/01/13
     27,817       28,551  
Pool# E69050
                
6.00%, 02/01/13
     13,267       14,419  
Pool# E72896
                
7.00%, 10/01/13
     4,615       4,910  
Pool# G11612
                
6.00%, 04/01/14
     3,495       3,565  
Pool# E00677
                
6.00%, 06/01/14
     29,963       32,076  
Pool# E00802
                
7.50%, 02/01/15
     18,066       19,475  
Pool# G11001
                
6.50%, 03/01/15
     10,657       11,589  
Pool# G11003
                
7.50%, 04/01/15
     862       927  
Pool# G11164
                
7.00%, 05/01/15
     2,682       2,891  
Pool# E81396
                
7.00%, 10/01/15
     402       435  
Pool# E81394
                
7.50%, 10/01/15
     5,401       5,856  
Pool# E84097
                
6.50%, 12/01/15
     2,251       2,448  
Pool# E00938
                
7.00%, 01/01/16
     6,827       7,386  
Pool# E82132
                
7.00%, 01/01/16
     1,478       1,600  
Pool# E82815
                
6.00%, 03/01/16
     5,604       6,091  
Pool# E83231
                
6.00%, 04/01/16
     1,569       1,709  
Pool# E83233
                
6.00%, 04/01/16
     3,935       4,287  
Pool# G11972
                
6.00%, 04/01/16
     88,155       95,811  
Pool# E83046
                
7.00%, 04/01/16
     1,002       1,085  
Pool# E00975
                
6.00%, 05/01/16
     23,259       25,111  
Pool# E83355
                
6.00%, 05/01/16
     5,548       6,044  
Pool# E83636
                
6.00%, 05/01/16
     10,412       11,342  
Pool# E83933
                
6.50%, 05/01/16
     439       477  
Pool# E00985
                
6.00%, 06/01/16
     12,472       13,469  
Pool# E00987
                
6.50%, 06/01/16
     10,943       11,796  
Pool# E84236
                
6.50%, 06/01/16
     3,115       3,388  
Pool# E00996
                
6.50%, 07/01/16
     1,387       1,496  
Pool# E84912
                
6.50%, 08/01/16
     6,842       7,440  
Pool# E85117
                
6.50%, 08/01/16
     3,960       4,306  
Pool# E85387
                
6.00%, 09/01/16
     12,497       13,613  
Pool# E85800
                
6.50%, 10/01/16
     3,176       3,454  
Pool# E86183
                
6.00%, 11/01/16
     2,053       2,236  
Pool# E01083
                
7.00%, 11/01/16
     3,234       3,508  
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

13

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide Bond Index Fund
U.S. Government Mortgage Backed Agencies (continued)
                 
    Principal     Market  
    Amount     Value  
 
Freddie Mac Gold Pool (continued)
                
Pool# G11207
                
7.00%, 11/01/16
   $ 7,287     $ 7,887  
Pool# E86746
                
5.50%, 12/01/16
     26,549       28,692  
Pool# E86533
                
6.00%, 12/01/16
     4,979       5,424  
Pool# E01095
                
6.00%, 01/01/17
     5,417       5,862  
Pool# E87584
                
6.00%, 01/01/17
     4,268       4,649  
Pool# E86995
                
6.50%, 01/01/17
     11,473       12,476  
Pool# E87291
                
6.50%, 01/01/17
     18,067       19,647  
Pool# E87446
                
6.50%, 01/01/17
     3,246       3,543  
Pool# E88076
                
6.00%, 02/01/17
     5,463       5,959  
Pool# E01127
                
6.50%, 02/01/17
     8,736       9,460  
Pool# E88055
                
6.50%, 02/01/17
     31,138       33,987  
Pool# E88106
                
6.50%, 02/01/17
     18,996       20,734  
Pool# E01137
                
6.00%, 03/01/17
     8,243       8,928  
Pool# E88134
                
6.00%, 03/01/17
     1,906       2,079  
Pool# E88474
                
6.00%, 03/01/17
     7,595       8,284  
Pool# E88768
                
6.00%, 03/01/17
     19,072       20,776  
Pool# E01138
                
6.50%, 03/01/17
     5,068       5,488  
Pool# E01139
                
6.00%, 04/01/17
     38,366       41,574  
Pool# E88729
                
6.00%, 04/01/17
     7,335       8,001  
Pool# E89149
                
6.00%, 04/01/17
     9,691       10,571  
Pool# E89151
                
6.00%, 04/01/17
     6,421       7,004  
Pool# E89217
                
6.00%, 04/01/17
     7,061       7,702  
Pool# E89222
                
6.00%, 04/01/17
     39,947       43,572  
Pool# E89347
                
6.00%, 04/01/17
     2,203       2,403  
Pool# E89496
                
6.00%, 04/01/17
     5,711       6,229  
Pool# E89203
                
6.50%, 04/01/17
     3,743       4,085  
Pool# E01140
                
6.00%, 05/01/17
     32,944       35,717  
Pool# E89530
                
6.00%, 05/01/17
     24,385       26,598  
Pool# E89746
                
6.00%, 05/01/17
     55,863       60,933  
Pool# E89788
                
6.00%, 05/01/17
     5,332       5,816  
Pool# E89909
                
6.00%, 05/01/17
     7,856       8,569  
Pool# G11409
                
6.00%, 05/01/17
     50,585       55,105  
Pool# E01156
                
6.50%, 05/01/17
     13,267       14,366  
Pool# E89924
                
6.50%, 05/01/17
     22,652       24,725  
Pool# B15071
                
6.00%, 06/01/17
     108,628       118,333  
Pool# E01157
                
6.00%, 06/01/17
     23,674       25,678  
Pool# E90194
                
6.00%, 06/01/17
     6,149       6,707  
Pool# E90227
                
6.00%, 06/01/17
     5,604       6,113  
Pool# E90313
                
6.00%, 06/01/17
     2,845       3,103  
Pool# E90591
                
5.50%, 07/01/17
     31,510       34,133  
Pool# E90594
                
6.00%, 07/01/17
     21,404       23,347  
Pool# E90645
                
6.00%, 07/01/17
     36,986       40,343  
Pool# E90667
                
6.00%, 07/01/17
     6,397       6,978  
Pool# E01186
                
5.50%, 08/01/17
     73,951       79,930  
Pool# E01205
                
6.50%, 08/01/17
     10,645       11,526  
Pool# G11295
                
5.50%, 09/01/17
     47,712       51,684  
Pool# G11458
                
6.00%, 09/01/17
     13,461       14,630  
Pool# G11434
                
6.50%, 01/01/18
     13,703       14,901  
Pool# E01311
                
5.50%, 02/01/18
     825,142       893,917  
Pool# G11399
                
5.50%, 04/01/18
     68,501       74,032  
Pool# B10210
                
5.50%, 10/01/18
     144,753       156,985  
Pool# B10653
                
5.50%, 11/01/18
     107,445       116,525  
Pool# B11548
                
5.50%, 12/01/18
     65,100       70,601  
Pool# G11531
                
5.50%, 02/01/19
     34,079       36,958  
Pool# B12908
                
5.50%, 03/01/19
     38,414       41,684  
Pool# E01604
                
5.50%, 03/01/19
     65,727       71,227  
Pool# B13430
                
5.50%, 04/01/19
     59,405       64,462  
Pool# B13600
                
5.50%, 04/01/19
     49,545       53,763  
Pool# B15396
                
5.50%, 06/01/19
     74,687       81,045  
Pool# G18007
                
6.00%, 07/01/19
     32,502       35,457  
Pool# G18006
                
5.50%, 08/01/19
     56,465       61,272  
Pool# B16087
                
6.00%, 08/01/19
     58,835       64,184  
Pool# G18022
                
5.50%, 11/01/19
     128,522       139,463  
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

14

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide Bond Index Fund
U.S. Government Mortgage Backed Agencies (continued)
                 
    Principal     Market  
    Amount     Value  
 
Freddie Mac Gold Pool (continued)
                
Pool# B14288
                
5.50%, 12/01/19
   $ 65,068     $ 70,607  
Pool# B18437
                
5.50%, 05/01/20
     63,436       68,797  
Pool# G18062
                
6.00%, 06/01/20
     53,368       58,220  
Pool# J02325
                
5.50%, 07/01/20
     108,319       117,472  
Pool# J00718
                
5.00%, 12/01/20
     469,973       505,127  
Pool# J00935
                
5.00%, 12/01/20
     73,321       78,805  
Pool# J00854
                
5.00%, 01/01/21
     269,951       290,144  
Pool# J00871
                
5.00%, 01/01/21
     113,826       122,340  
Pool# J01049
                
5.00%, 01/01/21
     955,615       1,027,095  
Pool# G18096
                
5.50%, 01/01/21
     42,861       46,483  
Pool# J00855
                
5.50%, 01/01/21
     134,559       145,930  
Pool# J01189
                
5.00%, 02/01/21
     89,874       96,288  
Pool# J01279
                
5.50%, 02/01/21
     83,954       90,773  
Pool# J01256
                
5.00%, 03/01/21
     65,056       69,698  
Pool# J01414
                
5.00%, 03/01/21
     59,206       63,431  
Pool# J01576
                
5.00%, 04/01/21
     280,107       300,096  
Pool# J01570
                
5.50%, 04/01/21
     61,879       66,905  
Pool# J01633
                
5.50%, 04/01/21
     255,249       275,981  
Pool# J01757
                
5.00%, 05/01/21
     117,055       125,409  
Pool# J01771
                
5.00%, 05/01/21
     42,664       45,709  
Pool# J01833
                
5.00%, 05/01/21
     51,288       54,948  
Pool# J01879
                
5.00%, 05/01/21
     100,387       107,550  
Pool# J06015
                
5.00%, 05/01/21
     116,560       124,878  
Pool# J05950
                
5.50%, 05/01/21
     339,062       366,601  
Pool# G18122
                
5.00%, 06/01/21
     94,472       101,214  
Pool# G18123
                
5.50%, 06/01/21
     145,253       157,050  
Pool# J01980
                
6.00%, 06/01/21
     83,125       90,708  
Pool# J03074
                
5.00%, 07/01/21
     86,874       93,073  
Pool# J03028
                
5.50%, 07/01/21
     67,636       73,130  
Pool# G12245
                
6.00%, 07/01/21
     55,365       60,415  
Pool# G12310
                
5.50%, 08/01/21
     40,220       43,487  
Pool# G12348
                
6.00%, 08/01/21
     96,302       105,087  
Pool# G12412
                
5.50%, 11/01/21
     53,335       57,667  
Pool# C00351
                
8.00%, 07/01/24
     1,203       1,388  
Pool# D60780
                
8.00%, 06/01/25
     2,901       3,348  
Pool# D64617
                
8.00%, 10/01/25
     589       594  
Pool# D82854
                
7.00%, 10/01/27
     3,254       3,694  
Pool# C00566
                
7.50%, 12/01/27
     4,694       5,358  
Pool# C00678
                
7.00%, 11/01/28
     7,008       7,963  
Pool# C18271
                
7.00%, 11/01/28
     3,951       4,489  
Pool# C00836
                
7.00%, 07/01/29
     2,781       3,162  
Pool# A16201
                
7.00%, 08/01/29
     14,314       16,276  
Pool# C31282
                
7.00%, 09/01/29
     501       570  
Pool# C31285
                
7.00%, 09/01/29
     6,334       7,202  
Pool# A18212
                
7.00%, 11/01/29
     90,000       102,339  
Pool# C32914
                
8.00%, 11/01/29
     4,007       4,630  
Pool# C37436
                
8.00%, 01/01/30
     4,275       4,941  
Pool# C36306
                
7.00%, 02/01/30
     2,059       2,343  
Pool# C36429
                
7.00%, 02/01/30
     3,755       4,272  
Pool# C00921
                
7.50%, 02/01/30
     4,119       4,712  
Pool# G01108
                
7.00%, 04/01/30
     2,164       2,460  
Pool# C37703
                
7.50%, 04/01/30
     3,005       3,438  
Pool# C41561
                
8.00%, 08/01/30
     1,858       2,148  
Pool# C01051
                
8.00%, 09/01/30
     7,517       8,433  
Pool# C43550
                
7.00%, 10/01/30
     7,507       8,542  
Pool# C44017
                
7.50%, 10/01/30
     690       790  
Pool# C43967
                
8.00%, 10/01/30
     34,100       39,414  
Pool# C44978
                
7.00%, 11/01/30
     1,498       1,704  
Pool# C44957
                
8.00%, 11/01/30
     3,980       4,600  
Pool# C01106
                
7.00%, 12/01/30
     35,411       40,293  
Pool# C01103
                
7.50%, 12/01/30
     3,377       3,863  
Pool# C01116
                
7.50%, 01/01/31
     3,119       3,568  
Pool# C46932
                
7.50%, 01/01/31
     4,238       4,849  
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

15

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide Bond Index Fund
U.S. Government Mortgage Backed Agencies (continued)
                 
    Principal     Market  
    Amount     Value  
 
Freddie Mac Gold Pool (continued)
                
Pool# C47287
                
7.50%, 02/01/31
   $ 4,488     $ 5,134  
Pool# C48851
                
7.00%, 03/01/31
     6,596       7,510  
Pool# G01217
                
7.00%, 03/01/31
     31,589       35,945  
Pool# C48206
                
7.50%, 03/01/31
     3,902       4,458  
Pool# C53324
                
7.00%, 06/01/31
     5,419       6,170  
Pool# C01209
                
8.00%, 06/01/31
     1,979       2,288  
Pool# C54792
                
7.00%, 07/01/31
     34,796       39,614  
Pool# C55071
                
7.50%, 07/01/31
     593       678  
Pool# G01309
                
7.00%, 08/01/31
     8,033       9,146  
Pool# C01222
                
7.00%, 09/01/31
     5,752       6,549  
Pool# G01311
                
7.00%, 09/01/31
     46,124       52,483  
Pool# G01315
                
7.00%, 09/01/31
     1,809       2,058  
Pool# C58647
                
7.00%, 10/01/31
     2,288       2,605  
Pool# C58694
                
7.00%, 10/01/31
     11,037       12,566  
Pool# C60012
                
7.00%, 11/01/31
     1,701       1,937  
Pool# C61298
                
8.00%, 11/01/31
     5,037       5,823  
Pool# C61105
                
7.00%, 12/01/31
     5,452       6,207  
Pool# C01305
                
7.50%, 12/01/31
     3,695       4,230  
Pool# C62218
                
7.00%, 01/01/32
     5,352       6,093  
Pool# C63171
                
7.00%, 01/01/32
     18,236       20,762  
Pool# C64121
                
7.50%, 02/01/32
     5,487       6,281  
Pool# C01345
                
7.00%, 04/01/32
     25,311       28,680  
Pool# C66744
                
7.00%, 04/01/32
     944       1,069  
Pool# G01391
                
7.00%, 04/01/32
     76,593       87,152  
Pool# C65717
                
7.50%, 04/01/32
     7,584       8,686  
Pool# C01370
                
8.00%, 04/01/32
     4,531       5,223  
Pool# C66916
                
7.00%, 05/01/32
     21,959       24,882  
Pool# C67235
                
7.00%, 05/01/32
     47,020       53,279  
Pool# C01381
                
8.00%, 05/01/32
     33,133       38,312  
Pool# C68290
                
7.00%, 06/01/32
     8,755       9,921  
Pool# C68300
                
7.00%, 06/01/32
     38,433       43,548  
Pool# C68307
                
8.00%, 06/01/32
     1,191       1,245  
Pool# G01449
                
7.00%, 07/01/32
     54,262       61,742  
Pool# C68988
                
7.50%, 07/01/32
     3,070       3,506  
Pool# C69908
                
7.00%, 08/01/32
     34,697       39,315  
Pool# C70211
                
7.00%, 08/01/32
     11,560       13,098  
Pool# C71089
                
7.50%, 09/01/32
     10,987       12,584  
Pool# G01536
                
7.00%, 03/01/33
     41,189       46,671  
Pool# A16419
                
6.50%, 11/01/33
     26,785       29,715  
Pool# A16522
                
6.50%, 12/01/33
     163,270       181,129  
Pool# A17177
                
6.50%, 12/01/33
     11,054       12,264  
Pool# A17262
                
6.50%, 12/01/33
     34,138       37,872  
Pool# C01806
                
7.00%, 01/01/34
     26,619       30,162  
Pool# A21356
                
6.50%, 04/01/34
     112,518       124,544  
Pool# C01851
                
6.50%, 04/01/34
     96,817       107,165  
Pool# A22067
                
6.50%, 05/01/34
     174,005       192,604  
Pool# A24301
                
6.50%, 05/01/34
     88,837       98,332  
Pool# A24988
                
6.50%, 07/01/34
     76,056       84,186  
Pool# G01741
                
6.50%, 10/01/34
     73,719       81,967  
Pool# G08023
                
6.50%, 11/01/34
     121,873       134,899  
Pool# A33137
                
6.50%, 01/01/35
     25,075       27,756  
Pool# A31989
                
6.50%, 04/01/35
     43,489       47,893  
Pool# G08064
                
6.50%, 04/01/35
     70,616       77,767  
Pool# G01947
                
7.00%, 05/01/35
     60,914       69,023  
Pool# G01837
                
5.00%, 07/01/35
     8,605,462       9,193,842  
Pool# A37135
                
5.50%, 09/01/35
     2,038,571       2,199,691  
Pool# A46935
                
6.50%, 09/01/35
     34,482       37,973  
Pool# A38255
                
5.50%, 10/01/35
     1,608,739       1,735,887  
Pool# A38531
                
5.50%, 10/01/35
     2,042,810       2,204,265  
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

16

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide Bond Index Fund
U.S. Government Mortgage Backed Agencies (continued)
                 
    Principal     Market  
    Amount     Value  
 
Freddie Mac Gold Pool (continued)
                
Pool# G08088
                
6.50%, 10/01/35
   $ 426,470     $ 469,655  
Pool# A39759
                
5.50%, 11/01/35
     120,153       129,649  
Pool# A47682
                
6.50%, 11/01/35
     247,084       272,104  
Pool# A40376
                
5.50%, 12/01/35
     98,031       105,779  
Pool# A42305
                
5.50%, 01/01/36
     586,617       632,339  
Pool# A41548
                
7.00%, 01/01/36
     82,534       92,495  
Pool# G08111
                
5.50%, 02/01/36
     2,497,821       2,692,506  
Pool# A43672
                
6.50%, 02/01/36
     27,261       29,953  
Pool# A48303
                
7.00%, 02/01/36
     29,422       32,882  
Pool# A43452
                
5.50%, 03/01/36
     37,084       39,974  
Pool# A43861
                
5.50%, 03/01/36
     1,846,346       1,990,254  
Pool# A43884
                
5.50%, 03/01/36
     1,524,992       1,645,521  
Pool# A43885
                
5.50%, 03/01/36
     1,200,703       1,294,288  
Pool# A43886
                
5.50%, 03/01/36
     2,036,980       2,195,746  
Pool# A48378
                
5.50%, 03/01/36
     978,814       1,055,104  
Pool# G08116
                
5.50%, 03/01/36
     476,828       513,993  
Pool# A43534
                
6.50%, 03/01/36
     134,137       147,384  
Pool# A48735
                
5.50%, 05/01/36
     186,765       201,322  
Pool# G08136
                
6.50%, 06/01/36
     99,081       108,866  
Pool# A49960
                
7.00%, 06/01/36
     12,768       14,269  
Pool# A53039
                
6.50%, 10/01/36
     216,750       238,156  
Pool# A53219
                
6.50%, 10/01/36
     144,982       159,300  
Pool# A57803
                
6.50%, 02/01/37
     445,072       489,027  
Pool# A64982
                
6.50%, 08/01/37
     389,110       427,052  
Pool# A66192
                
6.50%, 09/01/37
     472,161       518,202  
Pool# A72132
                
6.50%, 01/01/38
     261,280       286,757  
Pool# A74187
                
6.50%, 02/01/38
     143,281       157,177  
Pool# G04251
                
6.50%, 04/01/38
     82,752       90,778  
Pool# G04473
                
5.50%, 06/01/38
     10,884,136       11,731,854  
Pool# A79540
                
6.50%, 07/01/38
     86,489       94,877  
Pool# G04569
                
6.50%, 08/01/38
     82,135       90,144  
Pool# A81341
                
6.00%, 09/01/38
     9,905,150       10,768,305  
Pool# A81998
                
6.50%, 09/01/38
     114,081       125,145  
Pool# A82297
                
6.50%, 10/01/38
     240,616       263,952  
Pool# A83464
                
6.50%, 11/01/38
     136,148       149,353  
Pool# G05232
                
6.50%, 12/01/38
     468,937       514,417  
Pool# A84168
                
6.50%, 01/01/39
     102,053       111,951  
Pool# A84252
                
6.50%, 01/01/39
     144,736       158,759  
Pool# A84287
                
6.50%, 01/01/39
     131,687       144,528  
Pool# A84584
                
6.50%, 02/01/39
     142,780       156,628  
Pool# A85442
                
5.00%, 03/01/39
     7,756,103       8,271,867  
Pool# G05459
                
5.50%, 05/01/39
     8,308,089       8,954,338  
Pool# A88133
                
4.50%, 08/01/39
     5,210,780       5,451,245  
Pool# A87958
                
6.00%, 08/01/39
     4,003,620       4,352,104  
Pool# A91165
                
5.00%, 02/01/40
     22,448,065       23,940,813  
Pool# A91538
                
4.50%, 03/01/40
     3,449,015       3,608,179  
Freddie Mac Gold Pool TBA
                
4.50%, 04/01/21
     15,900,000       16,836,605  
4.00%, 08/15/25
     8,000,000       8,360,000  
Ginnie Mae
                
Pool# 655457
                
6.00%, 05/15/36
     72,498       79,617  
Pool# 656666
                
6.00%, 06/15/36
     405,646       445,476  
Ginnie Mae I Pool
                
Pool# 279461
                
9.00%, 11/15/19
     1,591       1,833  
Pool# 376510
                
7.00%, 05/15/24
     3,913       4,472  
Pool# 457801
                
7.00%, 08/15/28
     4,787       5,496  
Pool# 486936
                
6.50%, 02/15/29
     4,553       5,127  
Pool# 502969
                
6.00%, 03/15/29
     16,496       18,327  
Pool# 487053
                
7.00%, 03/15/29
     6,819       7,835  
Pool# 781014
                
6.00%, 04/15/29
     12,946       14,383  
Pool# 509099
                
7.00%, 06/15/29
     3,254       3,739  
Pool# 470643
                
7.00%, 07/15/29
     12,884       14,803  
Pool# 434505
                
7.50%, 08/15/29
     708       816  
Pool# 416538
                
7.00%, 10/15/29
     1,193       1,371  
Pool# 524269
                
8.00%, 11/15/29
     7,158       7,536  
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

17

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide Bond Index Fund
U.S. Government Mortgage Backed Agencies (continued)
                 
    Principal     Market  
    Amount     Value  
 
Ginnie Mae I Pool (continued)
                
Pool# 781124
                
7.00%, 12/15/29
   $ 25,511     $ 29,299  
Pool# 525561
                
8.00%, 01/15/30
     2,610       3,050  
Pool# 507396
                
7.50%, 09/15/30
     69,924       80,682  
Pool# 531352
                
7.50%, 09/15/30
     6,765       7,805  
Pool# 536334
                
7.50%, 10/15/30
     822       948  
Pool# 540659
                
7.00%, 01/15/31
     795       914  
Pool# 486019
                
7.50%, 01/15/31
     2,159       2,496  
Pool# 535388
                
7.50%, 01/15/31
     2,835       3,278  
Pool# 537406
                
7.50%, 02/15/31
     1,308       1,512  
Pool# 528589
                
6.50%, 03/15/31
     61,953       69,677  
Pool# 508473
                
7.50%, 04/15/31
     10,426       12,057  
Pool# 544470
                
8.00%, 04/15/31
     2,988       3,154  
Pool# 781287
                
7.00%, 05/15/31
     13,897       15,976  
Pool# 549742
                
7.00%, 07/15/31
     4,801       5,522  
Pool# 781319
                
7.00%, 07/15/31
     4,325       4,974  
Pool# 485879
                
7.00%, 08/15/31
     15,292       17,588  
Pool# 572554
                
6.50%, 09/15/31
     123,502       138,900  
Pool# 555125
                
7.00%, 09/15/31
     2,481       2,854  
Pool# 781328
                
7.00%, 09/15/31
     13,125       15,088  
Pool# 550991
                
6.50%, 10/15/31
     3,887       4,372  
Pool# 571267
                
7.00%, 10/15/31
     1,341       1,542  
Pool# 574837
                
7.50%, 11/15/31
     2,258       2,610  
Pool# 555171
                
6.50%, 12/15/31
     1,660       1,867  
Pool# 781380
                
7.50%, 12/15/31
     3,942       4,550  
Pool# 781481
                
7.50%, 01/15/32
     20,776       23,969  
Pool# 580972
                
6.50%, 02/15/32
     3,176       3,554  
Pool# 781401
                
7.50%, 02/15/32
     11,094       13,146  
Pool# 781916
                
6.50%, 03/15/32
     256,995       293,165  
Pool# 552474
                
7.00%, 03/15/32
     9,106       10,459  
Pool# 781478
                
7.50%, 03/15/32
     7,054       8,407  
Pool# 781429
                
8.00%, 03/15/32
     11,083       13,030  
Pool# 781431
                
7.00%, 04/15/32
     47,448       54,568  
Pool# 568715
                
7.00%, 05/15/32
     38,079       43,738  
Pool# 552616
                
7.00%, 06/15/32
     55,173       63,374  
Pool# 570022
                
7.00%, 07/15/32
     70,184       80,615  
Pool# 583645
                
8.00%, 07/15/32
     5,236       6,133  
Pool# 595077
                
6.00%, 10/15/32
     34,088       37,871  
Pool# 596657
                
7.00%, 10/15/32
     4,772       5,481  
Pool# 552903
                
6.50%, 11/15/32
     241,482       270,231  
Pool# 552952
                
6.00%, 12/15/32
     34,251       38,053  
Pool# 588192
                
6.00%, 02/15/33
     17,248       19,119  
Pool# 602102
                
6.00%, 02/15/33
     22,169       24,575  
Pool# 553144
                
5.50%, 04/15/33
     143,675       157,311  
Pool# 604243
                
6.00%, 04/15/33
     68,889       76,363  
Pool# 611526
                
6.00%, 05/15/33
     22,412       24,844  
Pool# 631924
                
6.00%, 05/15/33
     65,093       72,156  
Pool# 553320
                
6.00%, 06/15/33
     78,427       86,937  
Pool# 572733
                
6.00%, 07/15/33
     8,106       8,985  
Pool# 573916
                
6.00%, 11/15/33
     59,207       65,631  
Pool# 604788
                
6.50%, 11/15/33
     164,201       183,339  
Pool# 604875
                
6.00%, 12/15/33
     143,270       158,815  
Pool# 781688
                
6.00%, 12/15/33
     148,624       164,936  
Pool# 781690
                
6.00%, 12/15/33
     63,120       70,087  
Pool# 781699
                
7.00%, 12/15/33
     24,340       27,994  
Pool# 621856
                
6.00%, 01/15/34
     40,816       45,092  
Pool# 564799
                
6.00%, 03/15/34
     341,652       377,441  
Pool# 630038
                
6.50%, 08/15/34
     120,737       134,582  
Pool# 781804
                
6.00%, 09/15/34
     205,959       227,727  
Pool# 781847
                
6.00%, 12/15/34
     188,013       207,865  
Pool# 486921
                
5.50%, 02/15/35
     76,081       83,112  
Pool# 781902
                
6.00%, 02/15/35
     162,347       179,000  
Pool# 649454
                
5.50%, 09/15/35
     797,324       871,004  
Pool# 649510
                
5.50%, 10/15/35
     1,164,542       1,272,156  
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

18

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide Bond Index Fund
U.S. Government Mortgage Backed Agencies (continued)
                 
    Principal     Market  
    Amount     Value  
 
Ginnie Mae I Pool (continued)
                
Pool# 649513
                
5.50%, 10/15/35
   $ 1,742,453     $ 1,903,471  
Pool# 652207
                
5.50%, 03/15/36
     1,299,660       1,417,729  
Pool# 652539
                
5.00%, 05/15/36
     117,409       126,727  
Pool# 655519
                
5.00%, 05/15/36
     124,805       134,710  
Pool# 606308
                
5.50%, 05/15/36
     226,572       247,155  
Pool# 606314
                
5.50%, 05/15/36
     103,824       113,256  
Pool# 657912
                
6.50%, 08/15/36
     58,415       64,566  
Pool# 704630
                
5.50%, 07/15/39
     328,614       357,748  
Pool# 722292
                
5.00%, 09/15/39
     5,066,982       5,462,757  
Ginnie Mae I pool TBA 6.00%, 08/15/40
     7,400,000       8,096,059  
Ginnie Mae I Pool TBA 4.50%, 08/15/40
     3,000,000       3,163,125  
Ginnie Mae II pool
                
Pool# G23851
                
5.50%, 05/20/36
     4,618,592       5,034,217  
Pool# G24747
                
5.00%, 07/20/40
     3,400,000       3,659,280  
 
              
Total U.S. Government Mortgage Backed Agencies
(cost $379,164,588)
             394,059,577  
 
              
Sovereign Bonds 2.9%
                 
    Principal     Market  
    Amount     Value  
 
BRAZIL 0.4%
                
Brazilian Government International Bond
                
10.50%, 07/14/14
     2,250,000       2,908,125  
7.13%, 01/20/37
     1,345,000       1,667,800  
 
              
 
             4,575,925  
 
              
CANADA 0.6%
                
Canada Government International Bond, 2.38%, 09/10/14
     2,145,000       2,236,326  
Province of British Columbia Canada, 4.30%, 05/30/13
     111,000       120,891  
Province of Manitoba Canada, 5.00%, 02/15/12
     275,000       292,299  
Province of Nova Scotia Canada, 5.13%, 01/26/17
     615,000       703,202  
Province of Ontario Canada
                
4.38%, 02/15/13
     297,000       321,480  
4.10%, 06/16/14
     1,845,000       2,013,258  
4.50%, 02/03/15
     463,000       511,559  
4.75%, 01/19/16
     205,000       230,769  
Province of Quebec Canada
                
4.60%, 05/26/15
     246,000       273,793  
7.50%, 09/15/29(b)
     402,000       555,044  
 
              
 
             7,258,621  
 
              
CHILE 0.0%†
                
Chile Government International Bond, 5.50%, 01/15/13
     123,000       133,394  
 
              
CHINA 0.0%†
                
China Government International Bond, 4.75%, 10/29/13
     205,000       224,438  
 
              
ITALY 0.2%
                
Italian Republic
                
4.38%, 06/15/13(b)
     390,000       407,821  
4.50%, 01/21/15(b)
     652,000       680,174  
4.75%, 01/25/16
     287,000       303,310  
6.88%, 09/27/23
     174,000       205,017  
5.38%, 06/15/33
     584,000       576,244  
 
              
 
             2,172,566  
 
              
MEXICO 0.2%
                
Mexico Government International Bond
                
6.38%, 01/16/13
     1,120,000       1,234,800  
6.75%, 09/27/34
     1,223,000       1,455,370  
 
              
 
             2,690,170  
 
              
PERU 0.1%
                
Peru Government International Bond, 7.13%, 03/30/19
     1,370,000       1,675,510  
 
              
POLAND 0.0%†
                
Poland Government International Bond, 5.00%, 10/19/15
     156,000       165,750  
 
              
SOUTH AFRICA 0.0%†
                
South Africa Government International Bond, 6.50%, 06/02/14
     144,000       162,360  
 
              
SOUTH KOREA 0.1%
                
Republic of Korea, 4.25%, 06/01/13
     942,000       991,041  
 
              
SUPRANATIONAL 0.9%
                
Asian Development Bank, 2.63%, 02/09/15(b)
     2,765,000       2,877,264  
Corp. Andina de Fomento, 6.88%, 03/15/12
     164,000       176,456  
European Investment Bank
                
4.25%, 07/15/13
     2,500,000       2,729,647  
3.00%, 04/08/14
     905,000       949,569  
4.63%, 05/15/14
     630,000       698,038  
4.63%, 10/20/15
     1,675,000       1,865,431  
5.13%, 09/13/16
     250,000       285,783  
Inter-American Development Bank
                
5.13%, 09/13/16
     65,000       75,512  
6.80%, 10/15/25
     287,000       360,946  
International Bank for Reconstruction & Development, 7.63%, 01/19/23
     677,000       947,657  
 
              
 
             10,966,303  
 
              
SWEDEN 0.4%
                
Svensk Exportkredit AB, 4.88%, 09/29/11
     4,101,000       4,306,755  
 
              
Total Sovereign Bonds
(cost $33,282,233)
             35,322,833  
 
              
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

19

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide Bond Index Fund
U.S. Government Sponsored & Agency Obligations 6.6%
                 
    Principal     Market  
    Amount     Value  
 
Federal Farm Credit Bank 4.88%, 01/17/17
   $ 375,000     $ 427,249  
Federal Home Loan Banks
                
0.88%, 08/22/12
     6,000,000       6,019,782  
4.00%, 09/06/13(b)
     3,055,000       3,325,963  
3.63%, 10/18/13
     3,500,000       3,787,375  
4.88%, 05/17/17(b)
     605,000       699,319  
5.25%, 06/05/17
     4,900,000       5,710,710  
Federal Home Loan Mortgage Corp.
                
5.13%, 07/15/12
     4,234,000       4,608,489  
4.13%, 12/21/12(b)
     2,740,000       2,951,725  
4.88%, 11/15/13
     5,292,000       5,945,477  
3.75%, 03/27/19(b)
     1,475,000       1,560,959  
6.75%, 09/15/29(b)
     388,000       512,384  
6.25%, 07/15/32
     865,000       1,108,880  
Federal National Mortgage Association
                
5.38%, 11/15/11
     2,434,000       2,588,564  
1.75%, 08/10/12(b)
     4,490,000       4,586,144  
1.50%, 06/26/13(b)
     5,840,000       5,930,952  
1.25%, 08/20/13(b)
     6,500,000       6,543,693  
2.50%, 05/15/14(b)
     2,280,000       2,374,853  
3.00%, 09/16/14(b)
     3,775,000       4,002,670  
4.63%, 10/15/14
     1,236,000       1,391,986  
5.00%, 04/15/15(b)
     1,132,000       1,302,436  
4.38%, 10/15/15
     82,000       92,137  
5.38%, 06/12/17
     7,505,000       8,875,984  
6.25%, 05/15/29
     750,000       940,548  
Financing Corp. (FICO) 9.80%, 11/30/17
     12,000       17,638  
Tennessee Valley Authority
                
6.25%, 12/15/17
     35,000       42,991  
4.50%, 04/01/18
     3,365,000       3,757,480  
 
              
Total U.S. Government Sponsored & Agency Obligations
(cost $74,556,314)
             79,106,388  
 
              
U.S. Treasury Bonds 4.4%
                 
    Principal     Market  
    Amount     Value  
 
U.S. Treasury Bond
                
3.50%, 02/15/39(b)
   $ 515,000     $ 472,915  
4.25%, 05/15/39
     3,095,000       3,238,144  
4.38%, 11/15/39
     8,080,000       8,627,921  
4.38%, 05/15/40
     1,300,000       1,389,583  
4.50%, 02/15/36(b)
     2,610,000       2,861,620  
4.50%, 05/15/38(b)
     2,370,000       2,587,744  
4.50%, 08/15/39
     1,285,000       1,399,847  
4.63%, 02/15/40(b)
     5,340,000       5,938,245  
5.00%, 05/15/37
     215,000       254,271  
6.25%, 08/15/23
     5,869,000       7,649,877  
6.38%, 08/15/27
     6,870,000       9,298,119  
6.88%, 08/15/25
     633,000       883,035  
8.00%, 11/15/21
     2,655,000       3,880,864  
8.13%, 08/15/19
     1,500,000       2,149,101  
8.50%, 02/15/20
     1,700,000       2,506,835  
 
              
Total U.S. Treasury Bonds
(cost $49,427,042)
             53,138,121  
 
              
U.S. Treasury Notes 27.4%
                 
    Principal     Market  
    Amount     Value  
 
U.S. Treasury Note
                
0.63%, 06/30/12
   $ 3,000,000     $ 3,005,160  
0.88%, 02/29/12(b)
     7,685,000       7,736,028  
1.00%, 09/30/11
     5,010,000       5,046,793  
1.00%, 04/30/12
     12,280,000       12,387,450  
1.13%, 12/15/12(b)
     18,000,000       18,195,462  
1.38%, 05/15/12
     5,500,000       5,585,294  
1.38%, 09/15/12(b)
     19,585,000       19,909,367  
1.38%, 02/15/13(b)
     21,420,000       21,778,121  
1.50%, 12/31/13
     7,000,000       7,123,046  
1.75%, 08/15/12(b)
     9,756,000       9,993,042  
1.75%, 03/31/14(b)
     3,345,000       3,426,274  
1.75%, 07/31/15
     4,800,000       4,835,232  
1.88%, 06/15/12(b)
     6,005,000       6,157,473  
1.88%, 02/28/14
     4,000,000       4,117,500  
1.88%, 04/30/14(b)
     7,475,000       7,685,234  
1.88%, 06/30/15(b)
     5,900,000       5,987,119  
2.13%, 11/30/14(b)
     3,520,000       3,634,400  
2.25%, 05/31/14(b)
     8,490,000       8,846,843  
2.38%, 08/31/14(b)
     5,570,000       5,818,472  
2.38%, 09/30/14(b)
     9,535,000       9,958,859  
2.38%, 02/28/15
     1,990,000       2,073,182  
2.50%, 03/31/15(b)
     18,000,000       18,842,400  
2.50%, 06/30/17(b)
     7,450,000       7,552,438  
2.63%, 04/30/16(b)
     3,055,000       3,171,949  
2.75%, 05/31/17
     4,335,000       4,465,050  
2.75%, 02/15/19
     5,305,000       5,341,472  
3.00%, 09/30/16(b)
     1,325,000       1,395,805  
3.00%, 02/28/17
     1,845,000       1,932,638  
3.25%, 12/31/16(b)
     9,325,000       9,922,378  
3.38%, 11/15/19(b)
     9,370,000       9,768,225  
3.50%, 05/15/20(b)
     2,000,000       2,100,320  
3.63%, 12/31/12
     2,960,000       3,176,681  
3.63%, 08/15/19(b)
     17,995,000       19,181,554  
3.63%, 02/15/20
     7,620,000       8,088,508  
3.88%, 10/31/12
     3,365,000       3,616,059  
4.00%, 02/15/15
     1,400,000       1,557,500  
4.13%, 05/15/15(b)
     1,533,000       1,717,438  
4.25%, 09/30/12
     2,585,000       2,790,994  
4.25%, 11/15/17(b)
     12,415,000       14,064,842  
4.50%, 09/30/11(b)
     16,030,000       16,798,318  
4.50%, 05/15/17
     3,595,000       4,119,363  
4.63%, 02/29/12
     7,134,000       7,603,003  
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

20

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide Bond Index Fund
U.S. Treasury Notes (continued)
                 
    Principal     Market  
    Amount     Value  
 
U.S. Treasury Note (continued)
                
4.63%, 02/15/17
   $ 3,060,000     $ 3,521,629  
4.75%, 05/31/12
     3,535,000       3,808,411  
4.88%, 08/15/16
     1,833,000       2,136,448  
 
              
Total U.S. Treasury Notes
(cost $318,151,253)
             329,973,774  
 
              
Yankee Dollars 0.7%
                 
    Principal     Market  
    Amount     Value  
 
Chemicals 0.0%†
                
Potash Corp of Saskatchewan, Inc.
                
7.75%, 05/31/11
   $ 29,000     $ 30,693  
4.88%, 03/01/13
     115,000       124,539  
5.88%, 12/01/36
     375,000       401,106  
 
              
 
             556,338  
 
              
Commercial Banks 0.0%†
                
Westpac Banking Corp.
                
2.10%, 08/02/13
     250,000       251,776  
4.63%, 06/01/18
     103,000       103,115  
 
              
 
             354,891  
 
              
Diversified Financial Services 0.1%
                
ConocoPhillips Canada Funding Co. I, 5.63%, 10/15/16
     760,000       886,713  
 
              
Electric Utilities 0.0%†
                
Hydro Quebec
                
8.40%, 01/15/22
     153,000       213,704  
8.88%, 03/01/26
     109,000       154,663  
 
              
 
             368,367  
 
              
Energy Equipment & Services 0.1%
                
EnCana Corp.
                
4.75%, 10/15/13
     236,000       255,501  
6.50%, 08/15/34
     250,000       283,943  
Weatherford International Ltd., 5.50%, 02/15/16
     51,000       54,544  
 
              
 
             593,988  
 
              
Gas Utilities 0.1%
                
Enbridge, Inc., 5.60%, 04/01/17
     750,000       857,767  
 
              
Metals & Mining 0.0%†
                
BHP Billiton Finance USA Ltd., 6.42%, 03/01/26
     55,000       63,652  
Rio Tinto Alcan, Inc.
                
6.45%, 03/15/11
     31,000       32,004  
4.50%, 05/15/13
     158,000       168,408  
Vale Inco Ltd., 7.75%, 05/15/12
     123,000       134,658  
Xstrata Canada Corp., 6.20%, 06/15/35
     123,000       122,110  
 
              
 
             520,832  
 
              
Oil, Gas & Consumable Fuels 0.3%
                
Burlington Resources Finance Co.
                
6.40%, 08/15/11
     86,000       90,929  
6.50%, 12/01/11
     144,000       154,330  
Canadian Natural Resources Ltd., 4.90%, 12/01/14
     195,000       213,253  
Nexen, Inc.
                
5.05%, 11/20/13
     105,000       113,500  
5.20%, 03/10/15
     250,000       274,057  
5.88%, 03/10/35
     92,000       92,808  
6.40%, 05/15/37
     250,000       273,238  
Petro-Canada, 5.95%, 05/15/35
     189,000       199,700  
Statoil ASA, 6.80%, 01/15/28
     425,000       515,190  
Suncor Energy, Inc., 6.10%, 06/01/18
     605,000       700,740  
Talisman Energy, Inc.
                
7.25%, 10/15/27
     92,000       107,746  
5.75%, 05/15/35
     250,000       253,388  
TransCanada Pipelines Ltd., 5.85%, 03/15/36
     500,000       518,458  
 
              
 
             3,507,337  
 
              
Road & Rail 0.1%
                
Canadian National Railway Co.
                
4.40%, 03/15/13
     515,000       553,479  
6.90%, 07/15/28
     168,000       204,910  
6.20%, 06/01/36
     164,000       193,498  
 
              
 
             951,887  
 
              
Total Yankee Dollars
(cost $7,788,753)
             8,598,120  
 
              
Mutual Fund 6.8%
                 
            Market  
    Shares     Value  
 
Money Market Fund 6.8%
                
Invesco Liquid Assets Portfolio — Institutional Class, 0.26% (g)
     81,830,860       81,830,860  
 
              
Total Mutual Fund
(cost $81,830,860)
             81,830,860  
 
              
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

21

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide Bond Index Fund
Repurchase Agreements 1.4%
                 
    Principal     Market  
    Amount     Value  
Goldman Sachs & Co., 0.21%, dated 07/30/2010, due 08/02/2010, repurchase price $5,718,045, collateralized by U.S. Government Agency Mortgage Securities ranging from 0.00% - 14.00%, maturing 09/15/2010 - 07/20/2060; total market value $5,832,304. (h)
   $ 5,717,945     $ 5,717,945  
Morgan Stanley, 0.21%, dated 07/30/2010, due 08/02/2010, repurchase price $11,415,631, collateralized by U.S. Government Agency Mortgage Securities ranging from 3.50% - 6.00%, maturing 05/01/22 - 06/01/40; total market value $11,643,739. (h)
     11,415,431       11,415,431  
 
              
Total Repurchase Agreements
(cost $17,133,376)
             17,133,376  
 
              
 
                
Total Investments
(cost $1,217,599,530) (i) — 106.1%
             1,277,580,417  
 
                
Liabilities in excess of other assets — (6.1)%
             (73,203,927 )
 
              
NET ASSETS — 100.0%
           $ 1,204,376,490  
 
              
 
(a)   Variable Rate Security. The rate reflected in the Statement of Investments is the rate in effect on July 31, 2010. The maturity date represents the actual maturity date.
 
(b)   The security or a portion of this security is on loan at July 31, 2010. The total value of securities on loan at July 31, 2010 was $265,564,644, which was collateralized by repurchase agreements with a value of $17,133,376 and $251,670,810, of collateral in the form of U.S. government agency securities, interest rates ranging from 0.00% to 7.50% and maturity dates ranging from 08/01/14 to 01/16/42, a total value of $268,804,186.
 
(c)   Rule 144A, Section 4(2), or other security which is restricted as to sale to institutional investors. These securities were deemed liquid pursuant to procedures approved by the Board of Trustees. The aggregate value of these securities at July 31, 2010 was $1,695,514 which represents 0.14% of net assets.
 
(d)   Step Bond. Coupon rate is set for an initial period and then increases to a higher coupon rate at a specific date. The rate shown is the rate at July 31, 2010.
 
(e)   Variable Rate and Perpetual Bond Security. The rate reflected in the Statement of Investments is the rate in effect on July 31, 2010. The maturity date reflects the next call date.
 
(f)   Investment in affiliate.
 
(g)   Represents 7-day effective yield as of July 31, 2010.
 
(h)   The security was purchased with cash collateral held from securities on loan. The total value of this security as of July 31, 2010 was $17,133,376.
 
(i)   At July 31, 2010, the tax basis cost of the Fund’s investments was $1,218,370,838, tax unrealized appreciation and depreciation were $60,253,619 and $(1,044,040), respectively.
 
†   Amount rounds to less than 0.1%.
     
AB
   Stock Company
 
AG
   Stock Corporation
 
ASA
   Stock Corporation
 
BV
   Private Limited Liability Company
 
FICO
   Fair Isaac Corporation
 
LLC
   Limited Liability Company
 
LP
   Limited Partnership
 
Ltd.
   Limited
 
NA
   National Association
 
PCL
   Public Company Limited
 
PLC
   Public Limited Company
 
REIT
   Real Estate Investment Trust
 
SA
   Stock Company
 
SAB de CV
   Public Traded Company
 
SAU
   Single Shareholder Corporation
 
TBA
   To Be Announced
 
UK
   United Kingdom
 
ULC
   Unlimited Liability Company
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

22

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide Bond Index Fund
In accordance with the authorative guidance on fair value measurements and disclosures under GAAP, the Fund discloses the fair value of its investments in a hierarchy that prioritizes the inputs to valuation techniques used to measure the fair value. This standard defines fair value, sets out a framework for measuring fair value and expands disclosures about fair value measurements. The hierarchy gives the highest priority to readily available unadjusted quoted prices in active markets for identical assets (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements) when market prices are not readily available or reliable. The three levels of the hierarchy established are summarized below:
     
Level 1:
  Quoted prices in active markets for identical assets.
 
    
Level 2:
  Other significant observable inputs (including quoted prices of similar securities, interest rates, prepayment speeds, credit risk, etc).
 
    
Level 3:
  Significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments).
Changes in valuation techniques may result in transfers in or out of an investment’s assigned level within the hierarchy.
The inputs or methodology used to value securities and other investments are not intended to indicate the risk associated with investing in those securities and investments.
The following is a summary of the inputs used to value the Fund’s net assets as of July 31, 2010:
                                 
Asset Type*   Level 1   Level 2   Level 3   Total
 
Assets:
                                
Asset-Backed Securities
   $ —     $ 5,814,918     $ —     $ 5,814,918  
Commercial Mortgage Backed Securities
     —       37,242,327       —       37,242,327  
Corporate Bonds
     —       228,581,225       —       228,581,225  
Municipal Bonds
     —       6,778,898       —       6,778,898  
Mutual Fund
     81,830,860       —       —       81,830,860  
Repurchase Agreements
     —       17,133,376       —       17,133,376  
Sovereign Bonds
     —       35,322,833       —       35,322,833  
U.S. Government Mortgage Backed Agencies
     —       394,059,577       —       394,059,577  
U.S. Government Sponsored & Agency Obligations
     —       79,106,388       —       79,106,388  
U.S. Treasury Bonds
     —       53,138,121       —       53,138,121  
U.S. Treasury Notes
     —       329,973,774       —       329,973,774  
Yankee Dollars
     —       8,598,120       —       8,598,120  
 
Total
   $ 81,830,860     $ 1,195,749,557     $ —     $ 1,277,580,417  
 
Amounts designated as “—” are zero or have been rounded to zero.
 
*   See Statement of Investments for identification of securities by type and industry classification.
For the period ended July 31, 2010 there were no significant transfers between Levels 1 and 2.
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

23

 

Statement of Investments
July 31, 2010 (Unaudited)
Nationwide International Index Fund
Common Stocks 98.9%
                 
            Market  
    Shares     Value  
 
AUSTRALIA 8.2%
                
Air Freight & Logistics 0.0%†
                
Toll Holdings Ltd.
     103,460     $ 557,193  
 
              
Airlines 0.0%†
                
Qantas Airways Ltd.*
     165,561       371,053  
 
              
Beverages 0.2%
                
Coca-Cola Amatil Ltd.(a)
     81,838       849,475  
Foster’s Group Ltd.(a)
     288,394       1,505,822  
 
              
 
             2,355,297  
 
              
Biotechnology 0.2%
                
CSL Ltd.
     84,939       2,546,555  
 
              
Capital Markets 0.1%
                
Macquarie Group Ltd.(a)
     50,164       1,693,540  
 
              
Chemicals 0.1%
                
Incitec Pivot Ltd.
     242,346       714,713  
Orica Ltd.
     55,120       1,256,545  
 
              
 
             1,971,258  
 
              
Commercial Banks 2.5%
                
Australia & New Zealand Banking Group Ltd.(a)
     381,107       7,974,210  
Bendigo and Adelaide Bank Ltd.(a)
     53,424       396,559  
Commonwealth Bank of Australia(a)
     230,904       11,015,960  
National Australia Bank Ltd.
     319,117       7,279,258  
Westpac Banking Corp.(a)
     447,430       9,729,757  
 
              
 
             36,395,744  
 
              
Commercial Services & Supplies 0.1%
                
Brambles Ltd.
     214,762       1,050,729  
 
              
Construction & Engineering 0.0%†
                
Leighton Holdings Ltd.(a)
     20,114       537,554  
 
              
Construction Materials 0.0%†
                
Boral Ltd.
     104,384       400,958  
 
              
Containers & Packaging 0.1%
                
Amcor Ltd.(a)
     182,872       1,087,482  
 
              
Diversified Financial Services 0.1%
                
ASX Ltd.(a)
     27,067       708,839  
 
              
Diversified Telecommunication Services 0.1%
                
Telstra Corp. Ltd.
     652,341       1,901,229  
 
              
Electric Utilities 0.0%†
                
SP AusNet
     238,078       171,939  
 
              
Energy Equipment & Services 0.1%
                
WorleyParsons Ltd.(a)
     28,781       603,061  
 
              
Food & Staples Retailing 0.7%
                
Metcash Ltd.(a)
     112,250       451,948  
Wesfarmers Ltd.
     22,780       643,226  
Wesfarmers Ltd.(a)
     150,771       4,247,429  
Woolworths Ltd.(a)
     185,219       4,322,679  
 
              
 
             9,665,282  
 
              
Food Products 0.0%†
                
Goodman Fielder Ltd.(a)
     208,825       252,122  
 
              
Health Care Equipment & Supplies 0.0%†
                
Cochlear Ltd.(a)
     8,229       526,114  
 
              
Health Care Providers & Services 0.0%†
                
Sonic Healthcare Ltd.
     53,463       499,085  
 
              
Hotels, Restaurants & Leisure 0.1%
                
Aristocrat Leisure Ltd.(a)
     58,082       178,448  
Crown Ltd.
     71,892       518,884  
TABCORP Holdings Ltd.
     92,714       574,920  
Tatts Group Ltd.
     192,310       426,351  
 
              
 
             1,698,603  
 
              
Industrial Conglomerates 0.0%†
                
CSR Ltd.(a)
     222,653       347,245  
 
              
Information Technology Services 0.1%
                
Computershare Ltd.(a)
     64,797       593,801  
 
              
Insurance 0.5%
                
AMP Ltd.
     306,804       1,474,080  
AXA Asia Pacific Holdings Ltd.
     160,338       788,024  
Insurance Australia Group Ltd.(a)
     317,245       981,899  
QBE Insurance Group Ltd.
     155,549       2,351,000  
Suncorp-Metway Ltd.(a)
     188,376       1,428,583  
 
              
 
             7,023,586  
 
              
Media 0.0%†
                
Fairfax Media Ltd.(a)
     310,922       415,077  
 
              
Metals & Mining 1.9%
                
Alumina Ltd.(a)
     360,290       507,526  
BHP Billiton Ltd.
     505,825       18,361,597  
BlueScope Steel Ltd.*
     273,044       587,542  
Fortescue Metals Group Ltd.*(a)
     193,349       753,113  
MacArthur Coal Ltd.
     19,313       219,467  
Newcrest Mining Ltd.(a)
     72,299       2,148,804  
OneSteel Ltd.(a)
     194,481       527,360  
OZ Minerals Ltd.*
     458,145       512,268  
Rio Tinto Ltd.(a)
     65,241       4,187,432  
Sims Metal Management Ltd.
     24,535       395,067  
 
              
 
             28,200,176  
 
              
Multiline Retail 0.0%†
                
Harvey Norman Holdings Ltd.
     66,780       211,438  
 
              
Multi-Utilities 0.1%
                
AGL Energy Ltd.(a)
     65,699       879,239  
 
              
Oil, Gas & Consumable Fuels 0.5%
                
Caltex Australia Ltd.(a)
     20,486       190,335  
Dart Energy Ltd.*(a)
     42,569       29,077  
Energy Resources of Australia Ltd.
     8,260       103,211  
Origin Energy Ltd.(a)
     131,004       1,831,495  
Paladin Energy Ltd.*(a)
     96,339       336,514  
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

1

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide International Index Fund
Common Stocks (continued)
                 
            Market  
    Shares     Value  
 
AUSTRALIA (continued)
                
Oil, Gas & Consumable Fuels (continued)
                
Santos Ltd.
     124,498     $ 1,501,366  
Woodside Petroleum Ltd.(a)
     82,859       3,128,126  
 
              
 
             7,120,124  
 
              
Real Estate Investment Trusts (REITs) 0.5%
                
CFS Retail Property Trust
     251,960       428,809  
Dexus Property Group
     689,982       509,667  
Goodman Group
     981,833       546,870  
GPT Group(a)
     270,425       700,964  
Mirvac Group(a)
     458,791       551,489  
Stockland
     356,424       1,224,474  
Westfield Group
     333,395       3,687,861  
 
              
 
             7,650,134  
 
              
Real Estate Management & Development 0.0%†
                
Lend Lease Group
     83,585       551,530  
 
              
Road & Rail 0.1%
                
Asciano Group*
     440,219       675,514  
 
              
Textiles, Apparel & Luxury Goods 0.0%†
                
Billabong International Ltd.
     29,397       242,505  
 
              
Transportation Infrastructure 0.1%
                
Intoll Group
     365,815       485,831  
MAp Group
     120,308       322,825  
Transurban Group
     191,481       774,769  
 
              
 
             1,583,425  
 
              
 
             120,487,431  
 
              
AUSTRIA 0.3%
                
Commercial Banks 0.1%
                
Erste Group Bank AG(a)
     27,891       1,116,255  
Raiffeisen International Bank Holding AG(a)
     8,121       368,382  
 
              
 
             1,484,637  
 
              
Diversified Telecommunication Services 0.1%
                
Telekom Austria AG
     48,553       624,544  
 
              
Electric Utilities 0.0%†
                
Verbund AG, Class A(a)
     11,315       401,434  
 
              
Insurance 0.0%†
                
Vienna Insurance Group
     5,811       275,569  
 
              
Metals & Mining 0.0%†
                
Voestalpine AG(a)
     16,507       527,725  
 
              
Oil, Gas & Consumable Fuels 0.1%
                
OMV AG
     22,618       756,256  
 
              
Real Estate Investment Trusts (REITs) 0.0%
                
Immoeast AG*(a)(b)
     52,445       0  
 
              
Real Estate Management & Development 0.0%†
                
Immofinanz AG*
     155,746       512,016  
 
              
 
             4,582,181  
 
              
BELGIUM 0.9%
                
Beverages 0.4%
                
Anheuser-Busch InBev NV
     108,520       5,748,669  
Anheuser-Busch InBev NV VVPR*
     47,992       187  
 
              
 
             5,748,856  
 
              
Chemicals 0.1%
                
Solvay SA
     8,926       873,409  
Umicore
     17,893       603,431  
 
              
 
             1,476,840  
 
              
Commercial Banks 0.1%
                
Dexia SA*(a)
     81,859       400,350  
KBC Groep NV*
     24,251       1,067,399  
 
              
 
             1,467,749  
 
              
Diversified Financial Services 0.1%
                
Cie Nationale a Portefeuille
     4,323       206,967  
Groupe Bruxelles Lambert SA
     12,148       943,072  
 
              
 
             1,150,039  
 
              
Diversified Telecommunication Services 0.0%†
                
Belgacom SA
     22,892       821,459  
 
              
Food & Staples Retailing 0.1%
                
Colruyt SA
     2,262       557,222  
Delhaize Group SA
     15,103       1,115,065  
 
              
 
             1,672,287  
 
              
Insurance 0.1%
                
Ageas
     339,126       929,145  
 
              
Pharmaceuticals 0.0%†
                
UCB SA
     15,174       489,338  
 
              
Wireless Telecommunication Services 0.0%†
                
Mobistar SA
     3,895       224,579  
 
              
 
             13,980,292  
 
              
BERMUDA 0.1%
                
Energy Equipment & Services 0.1%
                
Seadrill Ltd.(a)
     41,893       968,506  
 
              
CHINA 0.0%†
                
Electronic Equipment, Instruments & Components 0.0%†
                
Foxconn International Holdings Ltd.*(a)
     246,604       173,640  
 
              
Machinery 0.0%†
                
Yangzijiang Shipbuilding Holdings Ltd.
     221,166       236,234  
 
              
 
             409,874  
 
              
CYPRUS 0.0%†
                
Commercial Banks 0.0%†
                
Bank of Cyprus Public Co. Ltd.
     90,958       488,729  
 
              
DENMARK 1.0%
                
Beverages 0.1%
                
Carlsberg AS, Class B
     16,182       1,432,496  
 
              
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

2

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide International Index Fund
Common Stocks (continued)
                 
            Market  
    Shares     Value  
 
DENMARK (continued)
                
Chemicals 0.1%
                
Novozymes AS, Class B
     7,280     $ 929,205  
 
              
Commercial Banks 0.1%
                
Danske Bank AS*
     68,488       1,608,403  
 
              
Electrical Equipment 0.1%
                
Vestas Wind Systems AS*
     30,551       1,482,631  
 
              
Health Care Equipment & Supplies 0.0%†
                
Coloplast AS, Class B
     3,350       347,733  
William Demant Holding*
     3,635       266,183  
 
              
 
             613,916  
 
              
Insurance 0.0%†
                
TrygVesta AS
     3,580       217,378  
 
              
Marine 0.2%
                
A.P. Moller — Maersk A/S, Class A
     85       698,384  
A.P. Moller — Maersk A/S, Class B
     198       1,668,373  
 
              
 
             2,366,757  
 
              
Pharmaceuticals 0.4%
                
Novo Nordisk AS, Class B
     65,227       5,580,998  
 
              
Road & Rail 0.0%†
                
DSV AS
     32,630       581,795  
 
              
 
             14,813,579  
 
              
FINLAND 1.1%
                
Auto Components 0.1%
                
Nokian Renkaat OYJ(a)
     17,130       480,503  
 
              
Communications Equipment 0.4%
                
Nokia OYJ
     562,282       5,294,888  
 
              
Diversified Financial Services 0.0%†
                
Pohjola Bank PLC
     20,712       256,993  
 
              
Diversified Telecommunication Services 0.0%†
                
Elisa OYJ*
     19,993       396,451  
 
              
Electric Utilities 0.1%
                
Fortum OYJ
     66,831       1,552,789  
 
              
Food & Staples Retailing 0.0%†
                
Kesko OYJ, Class B
     9,936       385,296  
 
              
Insurance 0.1%
                
Sampo OYJ, Class A
     63,306       1,546,401  
 
              
Machinery 0.2%
                
Kone OYJ, Class B
     23,148       1,056,427  
Metso OYJ
     19,223       757,861  
Wartsila OYJ
     11,833       623,141  
 
              
 
             2,437,429  
 
              
Media 0.0%†
                
Sanoma OYJ(a)
     12,186       242,298  
 
              
Metals & Mining 0.1%
                
Outokumpu OYJ(a)
     18,277       303,140  
Rautaruukki OYJ
     12,646       243,995  
 
              
 
             547,135  
 
              
Oil, Gas & Consumable Fuels 0.0%†
                
Neste Oil OYJ(a)
     19,274       284,297  
 
              
Paper & Forest Products 0.1%
                
Stora Enso OYJ, Class R
     87,648       709,365  
Upm-Kymmene OYJ
     77,999       1,131,908  
 
              
 
             1,841,273  
 
              
Pharmaceuticals 0.0%†
                
Orion OYJ, Class B
     13,807       266,562  
 
              
 
             15,532,315  
 
              
FRANCE 9.4%
                
Aerospace & Defense 0.1%
                
Safran SA(a)
     25,010       674,828  
Thales SA
     13,484       455,346  
 
              
 
             1,130,174  
 
              
Airlines 0.0%†
                
Air France-KLM*
     20,443       304,945  
 
              
Auto Components 0.1%
                
Compagnie Generale des Etablissements Michelin, Class B
     22,546       1,715,803  
 
              
Automobiles 0.1%
                
PSA Peugeot Citroen*
     23,339       692,054  
Renault SA*
     28,838       1,289,464  
 
              
 
             1,981,518  
 
              
Beverages 0.2%
                
Pernod-Ricard SA
     29,826       2,331,607  
 
              
Building Products 0.2%
                
Cie de Saint-Gobain
     58,330       2,482,572  
 
              
Chemicals 0.3%
                
Air Liquide SA
     42,643       4,790,743  
 
              
Commercial Banks 1.2%
                
BNP Paribas
     142,468       9,738,766  
Credit Agricole SA
     139,532       1,904,429  
Natixis*
     129,364       689,131  
Societe Generale
     94,258       5,413,359  
 
              
 
             17,745,685  
 
              
Commercial Services & Supplies 0.1%
                
Edenred*(a)
     22,382       393,756  
Societe BIC SA
     4,262       317,149  
 
              
 
             710,905  
 
              
Communications Equipment 0.1%
                
Alcatel-Lucent*
     346,963       1,036,306  
 
              
Construction & Engineering 0.3%
                
Bouygues SA(a)
     34,860       1,471,251  
Eiffage SA(a)
     6,456       325,489  
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

3

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide International Index Fund
Common Stocks (continued)
                 
            Market  
    Shares     Value  
 
FRANCE (continued)
                
Construction & Engineering (continued)
                
Vinci SA
     65,304     $ 3,161,186  
 
              
 
             4,957,926  
 
              
Construction Materials 0.1%
                
Imerys SA
     5,692       330,454  
Lafarge SA
     30,042       1,635,775  
 
              
 
             1,966,229  
 
              
Diversified Financial Services 0.0%†
                
Eurazeo
     4,174       265,653  
 
              
Diversified Telecommunication Services 0.4%
                
France Telecom SA
     279,880       5,853,860  
Iliad SA
     2,469       217,430  
 
              
 
             6,071,290  
 
              
Electric Utilities 0.1%
                
Electricite de France (EDF)
     38,838       1,650,247  
 
              
Electrical Equipment 0.4%
                
Alstom SA
     30,818       1,612,113  
Legrand SA
     19,790       644,187  
Schneider Electric SA
     35,642       4,102,356  
 
              
 
             6,358,656  
 
              
Energy Equipment & Services 0.1%
                
Cie Generale de Geophysique-Veritas*
     21,625       417,428  
Technip SA
     14,735       980,886  
 
              
 
             1,398,314  
 
              
Food & Staples Retailing 0.3%
                
Carrefour SA
     90,737       4,171,621  
Casino Guichard Perrachon SA
     8,314       724,420  
 
              
 
             4,896,041  
 
              
Food Products 0.3%
                
Dannone SA
     87,322       4,894,833  
 
              
Health Care Equipment & Supplies 0.2%
                
BioMerieux
     1,772       179,969  
Cie Generale d’Optique Essilor International SA
     31,098       1,945,089  
 
              
 
             2,125,058  
 
              
Hotels, Restaurants & Leisure 0.1%
                
Accor SA
     22,382       724,161  
Sodexo
     14,216       895,060  
 
              
 
             1,619,221  
 
              
Information Technology Services 0.1%
                
Atos Origin SA*
     6,809       292,263  
Cap Gemini SA
     22,785       1,083,140  
 
              
 
             1,375,403  
 
              
Insurance 0.4%
                
AXA SA
     258,921       4,753,777  
CNP Assurances
     22,396       462,449  
SCOR SE
     24,990       548,071  
 
              
 
             5,764,297  
 
              
Machinery 0.1%
                
Vallourec SA
     16,742       1,628,258  
 
              
Media 0.5%
                
Eutelsat Communications
     14,841       548,512  
JC Decaux SA*
     10,648       273,116  
Lagardere SCA
     17,796       655,210  
M6-Metropole Television
     9,773       216,578  
PagesJaunes Groupe
     18,970       210,112  
Publicis Groupe SA
     19,300       870,309  
Societe Television Francaise 1
     17,699       281,448  
Vivendi SA
     186,013       4,461,551  
 
              
 
             7,516,836  
 
              
Metals & Mining 0.0%†
                
Eramet(a)
     892       246,581  
 
              
Multiline Retail 0.1%
                
PPR
     11,450       1,532,813  
 
              
Multi-Utilities 0.6%
                
GDF Suez
     186,993       6,198,502  
Suez Environnement Co.
     40,612       755,596  
Veolia Environnement
     53,334       1,415,799  
 
              
 
             8,369,897  
 
              
Office Electronics 0.0%†
                
Neopost SA(a)
     4,701       363,492  
 
              
Oil, Gas & Consumable Fuels 1.1%
                
Total SA
     318,352       16,070,891  
 
              
Personal Products 0.3%
                
L’Oreal SA
     35,788       3,751,020  
 
              
Pharmaceuticals 0.6%
                
Ipsen SA
     4,045       134,331  
Sanofi-Aventis SA
     158,690       9,225,041  
 
              
 
             9,359,372  
 
              
Professional Services 0.0%†
                
Bureau Veritas SA
     7,445       449,688  
 
              
Real Estate Investment Trusts (REITs) 0.3%
                
Fonciere Des Regions REG
     3,512       320,563  
Gecina SA
     2,687       274,868  
ICADE
     3,600       342,209  
Klepierre
     13,281       423,829  
Unibail-Rodamco SE
     13,850       2,730,544  
 
              
 
             4,092,013  
 
              
Software 0.0%†
                
Dassault Systemes SA(a)
     8,925       579,981  
 
              
Textiles, Apparel & Luxury Goods 0.5%
                
Christian Dior SA
     9,525       1,031,045  
Hermes International
     7,905       1,354,918  
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

4

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide International Index Fund
Common Stocks (continued)
                 
            Market  
    Shares     Value  
 
FRANCE (continued)
                
Textiles, Apparel & Luxury Goods (continued)
                
LVMH Moet Hennessy Louis Vuitton SA
     36,829     $ 4,487,946  
 
              
 
             6,873,909  
 
              
Transportation Infrastructure 0.1%
                
Aeroports de Paris
     4,301       316,720  
Groupe Eurotunnel SA REG(a)
     69,623       511,747  
 
              
 
             828,467  
 
              
 
             139,236,644  
 
              
GERMANY 7.3%
                
Air Freight & Logistics 0.2%
                
Deutsche Post AG REG
     127,577       2,222,916  
 
              
Airlines 0.0%†
                
Deutsche Lufthansa AG REG*
     34,355       560,284  
 
              
Auto Components 0.0%†
                
Continental AG*
     7,540       481,215  
 
              
Automobiles 0.7%
                
Bayerische Motoren Werke AG
     49,924       2,687,197  
Daimler AG REG*
     135,367       7,312,792  
Volkswagen AG
     4,731       448,687  
 
              
 
             10,448,676  
 
              
Capital Markets 0.4%
                
Deutsche Bank AG REG(a)
     92,997       6,493,624  
 
              
Chemicals 0.9%
                
BASF SE
     138,112       8,076,068  
K+S AG
     21,425       1,140,692  
Linde AG
     25,299       2,974,456  
Wacker Chemie AG
     2,359       379,266  
 
              
 
             12,570,482  
 
              
Commercial Banks 0.1%
                
Commerzbank AG*(a)
     108,757       984,525  
Deutsche Postbank AG*
     13,196       421,618  
 
              
 
             1,406,143  
 
              
Construction & Engineering 0.0%†
                
Hochtief AG
     7,078       459,228  
 
              
Construction Materials 0.1%
                
HeidelbergCement AG
     21,300       1,074,804  
 
              
Diversified Financial Services 0.1%
                
Deutsche Boerse AG
     29,225       2,047,777  
 
              
Diversified Telecommunication Services 0.4%
                
Deutsche Telekom AG REG
     425,114       5,714,883  
 
              
Electric Utilities 0.6%
                
E.ON AG
     270,654       8,095,297  
 
              
Food & Staples Retailing 0.1%
                
Metro AG
     19,470       1,081,536  
 
              
Food Products 0.0%†
                
Suedzucker AG
     10,710       206,618  
 
              
Health Care Equipment & Supplies 0.0%†
                
Fresenius SE
     4,202       293,885  
 
              
Health Care Providers & Services 0.1%
                
Celesio AG
     11,507       268,944  
Fresenius Medical Care AG & Co. KGaA
     29,620       1,624,657  
 
              
 
             1,893,601  
 
              
Hotels, Restaurants & Leisure 0.0%†
                
TUI AG*
     20,871       220,430  
 
              
Household Products 0.1%
                
Henkel AG & Co. KGaA
     19,465       807,376  
 
              
Industrial Conglomerates 0.8%
                
Siemens AG REG
     124,144       12,143,811  
 
              
Insurance 0.9%
                
Allianz SE REG
    68,224       7,922,835  
Hannover Rueckversicherung AG REG
     9,091       435,056  
Muenchener Rueckversicherungs AG REG
     29,533       4,098,110  
 
              
 
             12,456,001  
 
              
Internet Software & Services 0.0%†
                
United Internet AG REG
     19,578       242,778  
 
              
Machinery 0.1%
                
GEA Group AG
     26,119       592,822  
MAN SE
     15,808       1,472,012  
 
              
 
             2,064,834  
 
              
Metals & Mining 0.1%
                
Salzgitter AG
     6,475       433,725  
ThyssenKrupp AG
     50,108       1,492,577  
 
              
 
             1,926,302  
 
              
Multi-Utilities 0.3%
                
RWE AG
     63,294       4,470,356  
 
              
Personal Products 0.1%
                
Beiersdorf AG
     15,148       897,188  
 
              
Pharmaceuticals 0.6%
                
Bayer AG
     124,237       7,151,451  
Merck KGaA
     9,439       841,193  
 
              
 
             7,992,644  
 
              
Semiconductors & Semiconductor Equipment 0.1%
                
Infineon Technologies AG*
     169,604       1,147,772  
 
              
Software 0.4%
                
SAP AG(a)
     128,640       5,876,884  
 
              
Textiles, Apparel & Luxury Goods 0.1%
                
Adidas AG
     31,767       1,723,133  
Puma AG Rudolf Dassler Sport
     796       233,146  
 
              
 
             1,956,279  
 
              
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

5

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide International Index Fund
Common Stocks (continued)
                 
            Market  
    Shares     Value  
 
GERMANY (continued)
                
Transportation Infrastructure 0.0%†
                
Fraport AG Frankfurt Airport Services Worldwide
     5,672     $ 294,861  
 
              
 
             107,548,485  
 
              
GREECE 0.3%
                
Beverages 0.1%
                
Coca Cola Hellenic Bottling Co. SA
     26,925       634,964  
 
              
Commercial Banks 0.2%
                
Alpha Bank A.E.*
     78,653       597,677  
EFG Eurobank Ergasias SA*
     48,706       374,967  
National Bank of Greece SA*
     91,530       1,336,547  
Piraeus Bank SA*
     54,473       360,398  
 
              
 
             2,669,589  
 
              
Diversified Telecommunication Services 0.0%†
                
Hellenic Telecommunications Organization SA
     36,954       301,347  
 
              
Electric Utilities 0.0%†
                
Public Power Corp. SA
     17,491       278,269  
 
              
Hotels, Restaurants & Leisure 0.0%†
                
OPAP SA
     33,670       498,334  
 
              
 
             4,382,503  
 
              
GUERNSEY, CHANNEL ISLANDS 0.0%†
                
Insurance 0.0%†
                
Resolution Ltd.
     1       3  
 
              
HONG KONG 2.4%
                
Airlines 0.0%†
                
Cathay Pacific Airways Ltd.
     176,000       392,436  
 
              
Commercial Banks 0.3%
                
Bank of East Asia Ltd.
     227,350       894,397  
BOC Hong Kong Holdings Ltd.
     559,100       1,437,582  
Hang Seng Bank Ltd.
     114,500       1,587,155  
Wing Hang Bank Ltd.
     29,000       313,526  
 
              
 
             4,232,660  
 
              
Distributors 0.1%
                
Li & Fung Ltd.
     347,600       1,599,500  
 
              
Diversified Financial Services 0.2%
                
Hong Kong Exchanges and Clearing Ltd.
     156,000       2,569,117  
 
              
Diversified Telecommunication Services 0.0%†
                
PCCW Ltd.
     558,000       171,663  
 
              
Electric Utilities 0.3%
                
Cheung Kong Infrastructure Holdings Ltd.
     77,500       290,453  
CLP Holdings Ltd.
     294,000       2,172,516  
Hongkong Electric Holdings Ltd.
     210,300       1,273,885  
 
              
 
             3,736,854  
 
              
Gas Utilities 0.1%
                
Hong Kong & China Gas Co. Ltd.
     652,669       1,632,178  
 
              
Hotels, Restaurants & Leisure 0.0%†
                
Shangri-La Asia Ltd.
     184,000       373,086  
 
              
Industrial Conglomerates 0.2%
                
Hutchison Whampoa Ltd.(a)
     319,500       2,114,032  
NWS Holdings Ltd.
     125,000       233,967  
 
              
 
             2,347,999  
 
              
Marine 0.0%†
                
Orient Overseas International Ltd.*
     33,938       265,392  
 
              
Media 0.0%†
                
Television Broadcasts Ltd.
     43,000       199,536  
 
              
Multiline Retail 0.0%†
                
Lifestyle International Holdings Ltd.
     97,693       203,576  
 
              
Oil, Gas & Consumable Fuels 0.0%†
                
Mongolia Energy Co. Ltd.*
     495,175       187,204  
 
              
Real Estate Investment Trusts (REITs) 0.1%
                
Link REIT (The)
     339,051       881,284  
 
              
Real Estate Management & Development 0.9%
                
Cheung Kong Holdings Ltd.
     211,000       2,550,678  
Hang Lung Group Ltd.
     120,000       704,802  
Hang Lung Properties Ltd.
     310,000       1,295,553  
Henderson Land Development Co. Ltd.
     160,800       1,001,289  
Hopewell Holdings Ltd.
     90,569       286,308  
Hysan Development Co. Ltd.
     95,673       297,846  
Kerry Properties Ltd.
     107,000       540,222  
New World Development Ltd.
     393,679       704,949  
Sino Land Co. Ltd.
     264,000       500,078  
Sun Hung Kai Properties Ltd.
     211,700       3,114,792  
Swire Pacific Ltd., Class A
     115,000       1,399,801  
Wharf Holdings Ltd.
     206,337       1,130,435  
Wheelock & Co. Ltd.
     142,000       442,912  
 
              
 
             13,969,665  
 
              
Road & Rail 0.1%
                
MTR Corp.
     212,214       746,293  
 
              
Semiconductors & Semiconductor Equipment 0.0%†
                
ASM Pacific Technology Ltd.
     27,300       249,626  
 
              
Specialty Retail 0.1%
                
Esprit Holdings Ltd.
     172,555       1,084,419  
 
              
Textiles, Apparel & Luxury Goods 0.0%†
                
Yue Yuen Industrial Holdings Ltd.(a)
     114,500       372,503  
 
              
Trading Companies & Distributors 0.0%†
                
Noble Group Ltd.
     449,014       546,609  
 
              
 
             35,761,600  
 
              
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

6

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide International Index Fund
Common Stocks (continued)
                 
            Market  
    Shares     Value  
 
IRELAND 0.7%
                
Airlines 0.0%†
                
Ryanair Holdings PLC*
     42,663     $ 213,672  
 
              
Commercial Banks 0.0%†
                
Anglo Irish Bank Corp. Ltd.*(b)
     122,522       0  
Governor & Co. of the Bank of Ireland (The)*
     511,899       557,216  
 
              
 
             557,216  
 
              
Construction Materials 0.2%
                
CRH PLC
     106,899       2,228,636  
James Hardie Industries SE*
     63,452       374,930  
 
              
 
             2,603,566  
 
              
Food Products 0.1%
                
Kerry Group PLC, Class A
     20,987       667,321  
 
              
Media 0.1%
                
WPP PLC
     187,746       1,996,465  
 
              
Pharmaceuticals 0.2%
                
Elan Corp. PLC*
     76,306       360,763  
Shire PLC
     84,323       1,928,731  
 
              
 
             2,289,494  
 
              
Professional Services 0.1%
                
Experian PLC
     156,083       1,537,509  
 
              
 
             9,865,243  
 
              
ISRAEL 0.8%
                
Aerospace & Defense 0.0%†
                
Elbit Systems Ltd.
     3,515       193,770  
 
              
Chemicals 0.1%
                
Israel Chemicals Ltd.
     66,605       820,373  
Israel Corp. Ltd. (The)*
     350       262,050  
Makhteshim-Agan Industries Ltd.
     36,412       127,663  
 
              
 
             1,210,086  
 
              
Commercial Banks 0.1%
                
Bank Hapoalim BM*
     149,081       601,682  
Bank Leumi Le-Israel BM*
     177,176       752,020  
Israel Discount Bank Ltd., Class A*
     81,980       149,487  
Mizrahi Tefahot Bank Ltd.*
     18,610       153,184  
 
              
 
             1,656,373  
 
              
Diversified Telecommunication Services 0.1%
                
Bezeq Israeli Telecommunication Corp. Ltd.
     260,128       574,594  
 
              
Electrical Equipment 0.0%†
                
Ormat Industries
     9,209       69,910  
 
              
Industrial Conglomerates 0.0%†
                
Delek Group Ltd.
     608       141,263  
Discount Investment Corp. REG
     3,951       74,825  
 
              
 
             216,088  
 
              
Pharmaceuticals 0.5%
                
Teva Pharmaceutical Industries Ltd.
     139,357       6,895,799  
 
              
Software 0.0%†
                
NICE Systems Ltd.*
     9,335       267,953  
 
              
Wireless Telecommunication Services 0.0%†
                
Cellcom Israel Ltd.
     7,491       205,954  
Partner Communications Co. Ltd.
     12,864       213,649  
 
              
 
             419,603  
 
              
 
             11,504,176  
 
              
ITALY 2.9%
                
Aerospace & Defense 0.0%†
                
Finmeccanica SpA
     61,020       669,859  
 
              
Auto Components 0.0%†
                
Pirelli & C SpA
     35,847       250,501  
 
              
Automobiles 0.1%
                
Fiat SpA
     115,825       1,483,397  
 
              
Capital Markets 0.1%
                
Mediobanca SpA*
     75,144       674,234  
 
              
Commercial Banks 0.9%
                
Banca Carige SpA
     89,227       200,580  
Banca Monte dei Paschi di Siena SpA*
     331,229       434,667  
Banca Popolare di Milano Scarl
     59,436       314,406  
Banco Popolare Societa Cooperativa
     95,965       610,546  
Intesa Sanpaolo SpA
     1,160,905       3,831,615  
Intesa Sanpaolo SpA
     152,066       394,388  
UniCredit SpA
     2,310,647       6,462,287  
Unione di Banche Italiane ScpA
     93,594       1,003,861  
 
              
 
             13,252,350  
 
              
Diversified Financial Services 0.0%†
                
Exor SpA
     9,529       190,096  
Diversified Telecommunication Services 0.2%
                
Telecom Italia SpA
     1,402,318       1,784,790  
Telecom Italia SpA — RSP
     908,511       944,247  
 
              
 
             2,729,037  
 
              
Electric Utilities 0.4%
                
Enel SpA
     990,867       4,857,744  
Terna Rete Elettrica Nazionale SpA
     205,513       854,199  
 
              
 
             5,711,943  
 
              
Electrical Equipment 0.0%†
                
Prysmian SpA
     27,310       461,567  
 
              
Energy Equipment & Services 0.1%
                
Saipem SpA
     40,898       1,469,237  
 
              
Food Products 0.0%†
                
Parmalat SpA
     266,330       644,535  
 
              
Gas Utilities 0.1%
                
Snam Rete Gas SpA
     214,710       1,007,284  
 
              
Hotels, Restaurants & Leisure 0.0%†
                
Autogrill SpA*
     15,333       189,681  
 
              
Insurance 0.3%
                
Assicurazioni Generali SpA
     175,252       3,522,871  
Mediolanum SpA(a)
     35,536       156,644  
 
              
 
             3,679,515  
 
              
Media 0.1%
                
Mediaset SpA
     106,512       684,524  
 
              
Multi-Utilities 0.0%†
                
A2A SpA(a)
     167,378       251,036  
 
              
Oil, Gas & Consumable Fuels 0.5%
                
ENI SpA
     390,896       7,987,877  
 
              
Textiles, Apparel & Luxury Goods 0.0%†
                
Luxottica Group SpA
     17,465       454,095  
 
              
Transportation Infrastructure 0.1%
                
Atlantia SpA
     36,030       705,416  
 
              
 
             42,496,184  
 
              
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

7

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide International Index Fund
Common Stocks (continued)
                 
            Market  
    Shares     Value  
 
JAPAN 22.0%
                
Air Freight & Logistics 0.1%
                
Yamato Holdings Co. Ltd.
     58,600     $ 726,390  
 
              
Airlines 0.0%†
                
All Nippon Airways Co. Ltd.*
     124,000       419,198  
 
              
Auto Components 0.5%
                
Aisin Seiki Co., Ltd.
     28,300       787,503  
Bridgestone Corp.
     98,300       1,756,349  
Denso Corp.
     73,600       2,107,343  
Koito Manufacturing Co. Ltd.
     16,000       232,829  
NGK Spark Plug Co., Ltd.
     24,000       309,144  
NHK Spring Co. Ltd.
     22,000       201,954  
NOK Corp.
     14,600       238,590  
Stanley Electric Co. Ltd.
     20,800       359,438  
Sumitomo Rubber Industries, Ltd.
     25,900       255,990  
Toyoda Gosei Co. Ltd.
     10,100       252,022  
Toyota Boshoku Corp.(a)
     11,400       180,029  
Toyota Industries Corp.
     26,500       712,612  
 
              
 
             7,393,803  
 
              
Automobiles 2.0%
                
Daihatsu Motor Co. Ltd.
     29,000       341,158  
Fuji Heavy Industries Ltd.*
     92,000       505,490  
Honda Motor Co. Ltd.
     248,000       7,846,338  
Isuzu Motors Ltd.
     176,000       516,871  
Mazda Motor Corp.
     227,300       548,930  
Mitsubishi Motors Corp.*(a)
     583,000       758,775  
Nissan Motor Co., Ltd.*
     372,700       2,853,513  
Suzuki Motor Corp.
     48,800       1,021,440  
Toyota Motor Corp.
     415,500       14,585,679  
Yamaha Motor Co. Ltd.*
     39,300       507,852  
 
              
 
             29,486,046  
 
              
Beverages 0.2%
                
Asahi Breweries Ltd.
     58,100       1,028,420  
Coca-Cola West Co. Ltd.
     8,900       161,172  
Ito En Ltd.
     9,700       152,296  
Kirin Holdings Co. Ltd.
     127,000       1,692,417  
Sapporo Holdings Ltd.
     41,000       196,974  
 
              
 
             3,231,279  
 
              
Building Products 0.3%
                
Asahi Glass Co. Ltd.
     153,600       1,564,276  
Daikin Industries Ltd.
     34,600       1,284,353  
JS Group Corp.
     36,900       743,601  
Nippon Sheet Glass Co. Ltd.
     101,000       248,263  
TOTO Ltd.
     42,200       287,771  
 
              
 
             4,128,264  
 
              
Capital Markets 0.3%
                
Daiwa Securities Group, Inc.
     250,200       1,081,777  
JAFCO Co. Ltd.
     5,600       132,140  
Matsui Securities Co. Ltd.(a)
     20,300       119,734  
Mizuho Securities Co. Ltd.
     85,700       194,424  
Nomura Holdings, Inc.
     535,800       3,012,966  
SBI Holdings, Inc.
     2,872       381,033  
 
              
 
             4,922,074  
 
              
Chemicals 0.9%
                
Air Water, Inc.
     23,000       249,949  
Asahi Kasei Corp.
     195,200       1,019,612  
Daicel Chemical Industries Ltd.
     38,000       268,579  
Denki Kagaku Kogyo KK
     73,000       367,625  
Hitachi Chemical Co. Ltd.
     15,700       311,752  
JSR Corp.
     26,400       460,414  
Kaneka Corp.
     43,500       268,640  
Kansai Paint Co. Ltd.
     30,000       254,763  
Kuraray Co. Ltd.
     52,000       650,570  
Mitsubishi Chemical Holdings Corp.
     181,000       931,601  
Mitsubishi Gas Chemical Co., Inc.
     60,000       336,120  
Mitsui Chemicals, Inc.
     130,100       384,679  
Nissan Chemical Industries Ltd.
     20,000       237,232  
Nitto Denko Corp.
     24,710       854,879  
Shin-Etsu Chemical Co. Ltd.
     62,300       3,095,448  
Showa Denko KK
     214,000       422,854  
Sumitomo Chemical Co. Ltd.
     232,200       1,005,530  
Taiyo Nippon Sanso Corp.
     37,000       322,935  
Teijin Ltd.
     141,800       450,498  
Tokuyama Corp.
     48,000       240,324  
Toray Industries, Inc.
     213,300       1,142,018  
Tosoh Corp.(a)
     78,000       208,326  
Ube Industries Ltd.
     154,000       384,733  
 
              
 
             13,869,081  
 
              
Commercial Banks 2.1%
                
77 Bank Ltd. (The)
     54,300       287,792  
Aozora Bank Ltd.
     97,000       128,575  
Bank of Kyoto Ltd. (The)
     49,000       408,186  
Bank of Yokohama Ltd. (The)
     180,000       828,381  
Chiba Bank Ltd. (The)
     112,300       685,299  
Chugoku Bank Ltd. (The)
     25,000       290,993  
Chuo Mitsui Trust Holdings, Inc.
     145,400       514,769  
Fukuoka Financial Group, Inc.
     113,600       472,306  
Gunma Bank Ltd. (The)
     60,000       321,558  
Hachijuni Bank Ltd. (The)
     69,000       394,028  
Hiroshima Bank Ltd. (The)
     77,000       302,491  
Hokuhoku Financial Group, Inc.
     195,900       346,046  
Iyo Bank Ltd. (The)
     40,000       354,080  
Joyo Bank Ltd. (The)
     103,000       416,076  
Mitsubishi UFJ Financial Group, Inc.
     1,914,484       9,484,324  
Mizuho Financial Group, Inc.
     3,032,783       4,916,286  
Mizuho Trust & Banking Co. Ltd.*
     230,000       193,701  
Nishi-Nippon City Bank Ltd. (The)
     102,000       296,275  
Resona Holdings, Inc.
     91,201       998,130  
Sapporo Hokuyo Holdings, Inc.
     48,500       229,743  
Senshu Ikeda Holdings, Inc.(a)
     83,390       122,090  
Seven Bank Ltd.
     93       170,981  
Shinsei Bank Ltd.*(a)
     158,000       145,340  
Shizuoka Bank Ltd. (The)
     89,000       739,516  
Sumitomo Mitsui Financial Group, Inc.
     202,705       6,247,212  
Sumitomo Trust & Banking Co. Ltd. (The)
     213,000       1,178,764  
Suruga Bank Ltd.
     31,000       278,841  
Yamaguchi Financial Group, Inc.
     32,000       298,938  
 
              
 
             31,050,721  
 
              
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

8

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide International Index Fund
Common Stocks (continued)
                 
            Market  
    Shares     Value  
 
Commercial Services & Supplies 0.2%
                
Dai Nippon Printing Co. Ltd.
     82,700     $ 998,217  
Nissha Printing Co. Ltd.(a)
     5,400       146,265  
Secom Co. Ltd.
     31,900       1,465,453  
Toppan Printing Co. Ltd.
     82,000       674,805  
 
              
 
             3,284,740  
 
              
Computers & Peripherals 0.4%
                
Fujitsu Ltd.
     282,100       1,999,160  
NEC Corp.
     390,000       1,050,932  
Seiko Epson Corp.
     20,200       264,737  
Toshiba Corp.*
     600,700       3,142,462  
 
              
 
             6,457,291  
 
              
Construction & Engineering 0.2%
                
Chiyoda Corp.
     26,000       186,877  
JGC Corp.
     32,000       527,487  
Kajima Corp.
     124,800       296,324  
Kinden Corp.
     20,000       180,275  
Obayashi Corp.
     101,500       432,311  
Shimizu Corp.
     87,000       327,988  
Taisei Corp.
     144,000       287,513  
 
              
 
             2,238,775  
 
              
Construction Materials 0.0%†
                
Taiheiyo Cement Corp.*
     140,000       189,645  
 
              
Consumer Finance 0.1%
                
Acom Co. Ltd.
     7,940       137,645  
Aeon Credit Service Co. Ltd.
     13,400       133,944  
Credit Saison Co. Ltd.
     23,100       292,791  
ORIX Corp.
     15,690       1,231,913  
 
              
 
             1,796,293  
 
              
Containers & Packaging 0.0%†
                
Toyo Seikan Kaisha Ltd.
     22,300       358,109  
 
              
Distributors 0.0%†
                
Canon Marketing Japan, Inc.
     10,300       139,868  
 
              
Diversified Consumer Services 0.0%†
                
Benesse Holdings, Inc.
     10,900       481,635  
 
              
Diversified Financial Services 0.0%†
                
Mitsubishi UFJ Lease & Finance Co. Ltd.
     9,230       323,886  
 
              
Diversified Telecommunication Services 0.2%
                
Nippon Telegraph & Telephone Corp.
     77,854       3,238,092  
 
              
Electric Utilities 1.1%
                
Chubu Electric Power Co., Inc.
     99,700       2,468,400  
Chugoku Electric Power Co., Inc. (The)
     45,100       933,939  
Hokkaido Electric Power Co., Inc.
     26,900       576,082  
Hokuriku Electric Power Co.
     28,300       626,289  
Kansai Electric Power Co., Inc. (The)
     114,700       2,777,740  
Kyushu Electric Power Co., Inc.
     56,300       1,272,554  
Shikoku Electric Power Co., Inc.
     26,200       771,936  
Tohoku Electric Power Co., Inc.
     65,300       1,407,759  
Tokyo Electric Power Co., Inc. (The)
     184,000       5,046,567  
 
              
 
             15,881,266  
 
              
Electrical Equipment 0.5%
                
Fuji Electric Holdings Co. Ltd.
     77,200       214,490  
Furukawa Electric Co. Ltd.
     95,300       423,766  
GS Yuasa Corp.
     56,000       361,528  
Mabuchi Motor Co. Ltd.
     4,100       205,872  
Mitsubishi Electric Corp.
     291,600       2,536,755  
Nidec Corp.
     16,700       1,569,996  
Panasonic Electric Works Co. Ltd.
     55,284       700,843  
Sumitomo Electric Industries Ltd.
     115,500       1,347,168  
Ushio, Inc.
     14,700       249,279  
 
              
 
             7,609,697  
 
              
Electronic Equipment, Instruments & Components 1.1%
                
Citizen Holdings Co. Ltd.
     36,700       220,059  
FUJIFILM Holdings Corp.
     70,700       2,201,651  
Hirose Electric Co. Ltd.
     4,900       495,161  
Hitachi High-Technologies Corp.
     10,400       198,770  
Hitachi Ltd.*
     687,300       2,852,375  
HOYA Corp.
     65,300       1,549,946  
Ibiden Co. Ltd.
     19,000       565,890  
Keyence Corp.
     6,308       1,450,314  
Kyocera Corp.
     24,400       2,173,864  
Mitsumi Electric Co. Ltd.
     12,300       205,351  
Murata Manufacturing Co. Ltd.
     31,200       1,541,808  
Nippon Electric Glass Co. Ltd.
     52,000       660,816  
Omron Corp.
     29,800       716,719  
Shimadzu Corp.
     38,000       290,560  
TDK Corp.
     19,000       1,144,861  
Yaskawa Electric Corp.
     37,000       278,157  
Yokogawa Electric Corp.
     33,800       199,448  
 
              
 
             16,745,750  
 
              
Food & Staples Retailing 0.3%
                
AEON Co., Ltd.
     90,100       964,383  
FamilyMart Co. Ltd.
     9,700       346,557  
Lawson, Inc.
     9,600       440,679  
Seven & I Holdings Co. Ltd.
     117,100       2,795,070  
UNY Co. Ltd.
     28,500       219,992  
 
              
 
             4,766,681  
 
              
Food Products 0.3%
                
Ajinomoto Co., Inc.
     98,000       926,548  
Kikkoman Corp.
     24,000       253,700  
MEIJI Holdings Co. Ltd.
     10,699       459,103  
Nippon Meat Packers, Inc.
     27,000       354,233  
Nisshin Seifun Group, Inc.
     27,900       340,781  
Nissin Foods Holdings Co. Ltd.
     10,300       359,880  
Toyo Suisan Kaisha Ltd.
     14,400       310,715  
Yakult Honsha Co. Ltd.
     14,900       430,785  
Yamazaki Baking Co. Ltd.
     19,100       242,132  
 
              
 
             3,677,877  
 
              
Gas Utilities 0.2%
                
Osaka Gas Co. Ltd.
     299,900       1,106,893  
Toho Gas Co. Ltd.
     63,000       317,844  
Tokyo Gas Co. Ltd.
     385,400       1,747,654  
 
              
 
             3,172,391  
 
              
Health Care Equipment & Supplies 0.2%
                
Olympus Corp.
     32,600       874,237  
Sysmex Corp.
     5,200       298,477  
Terumo Corp.
     26,100       1,370,885  
 
              
 
             2,543,599  
 
              
Health Care Providers & Services 0.1%
                
Alfresa Holdings Corp.
     6,000       276,656  
Mediceo Paltac Holdings Co. Ltd.
     22,300       258,410  
Suzuken Co. Ltd.
     9,800       342,624  
 
              
 
             877,690  
 
              
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

9

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide International Index Fund
Common Stocks (continued)
                 
            Market  
    Shares     Value  
 
JAPAN (continued)
                
Hotels, Restaurants & Leisure 0.1%
                
McDonald’s Holdings Co., (Japan) Ltd.
     10,024     $ 223,990  
Oriental Land Co. Ltd.
     6,900       576,360  
 
              
 
             800,350  
 
              
Household Durables 0.9%
                
Casio Computer Co. Ltd.(a)
     35,000       251,222  
Panasonic Corp.
     295,502       3,904,680  
Rinnai Corp.
     5,300       283,894  
Sanyo Electric Co. Ltd.*(a)
     277,200       436,305  
Sekisui Chemical Co. Ltd.
     65,000       438,548  
Sekisui House Ltd.
     86,300       764,418  
Sharp Corp.
     152,900       1,673,907  
Sony Corp.
     151,800       4,749,133  
 
              
 
             12,502,107  
 
              
Household Products 0.1%
                
Unicharm Corp.
     6,200       736,130  
 
              
Independent Power Producers & Energy Traders 0.0%†
                
Electric Power Development Co. Ltd.
     17,600       544,518  
 
              
Industrial Conglomerates 0.1%
                
Hankyu Hanshin Holdings, Inc.
     168,000       759,191  
 
              
Information Technology Services 0.1%
                
Itochu Techno-Solutions Corp.
     4,400       160,646  
Nomura Research Institute Ltd.
     15,300       303,683  
NTT Data Corp.
     186       676,694  
Obic Co. Ltd.
     940       177,468  
Otsuka Corp.
     2,400       156,265  
 
              
 
             1,474,756  
 
              
Insurance 0.6%
                
Dai-ichi Life Insurance Co. Ltd. (The)
     1,209       1,715,648  
MS&AD Insurance Group Holdings
     82,655       1,829,066  
NKSJ Holdings, Inc.*
     211,900       1,238,608  
Sony Financial Holdings, Inc.
     135       489,087  
T&D Holdings, Inc.
     42,600       929,529  
Tokio Marine Holdings, Inc.
     110,300       3,015,587  
 
              
 
             9,217,525  
 
              
Internet & Catalog Retail 0.1%
                
Dena Co., Ltd.
     12,500       348,233  
Rakuten, Inc.
     1,066       816,150  
 
              
 
             1,164,383  
 
              
Internet Software & Services 0.1%
                
Yahoo! Japan Corp.
     2,170       832,200  
 
              
Leisure Equipment & Products 0.2%
                
Namco Bandai Holdings, Inc.
     29,349       262,439  
Nikon Corp.
     48,000       836,047  
Sankyo Co. Ltd.
     7,900       386,282  
Sega Sammy Holdings, Inc.
     31,200       458,846  
Shimano, Inc.
     10,300       522,091  
Yamaha Corp.
     23,700       262,639  
 
              
 
             2,728,344  
 
              
Machinery 1.1%
                
Amada Co. Ltd.
     55,000       358,465  
Fanuc Ltd.
     29,100       3,435,210  
Hino Motors Ltd.
     47,000       206,336  
Hitachi Construction Machinery Co. Ltd.
     15,100       306,843  
IHI Corp.
     187,000       328,736  
Japan Steel Works Ltd. (The)
     47,000       454,079  
JTEKT Corp.
     29,900       289,374  
Kawasaki Heavy Industries Ltd.
     227,200       567,117  
Komatsu Ltd.
     142,500       2,985,652  
Kubota Corp.
     174,100       1,375,395  
Kurita Water Industries Ltd.
     16,600       459,223  
Makita Corp.
     16,500       474,572  
Minebea Co. Ltd.
     58,000       320,441  
Mitsubishi Heavy Industries Ltd.
     460,200       1,722,133  
Mitsui Engineering & Shipbuilding Co. Ltd.
     110,000       228,684  
NGK Insulators Ltd.
     37,000       624,217  
NSK Ltd.
     66,400       471,257  
NTN Corp.
     72,600       314,329  
SMC Corp.
     8,300       1,097,105  
Sumitomo Heavy Industries Ltd.
     88,000       514,862  
THK Co. Ltd.
     18,400       361,742  
 
              
 
             16,895,772  
 
              
Marine 0.2%
                
Kawasaki Kisen Kaisha Ltd.*
     109,000       464,547  
Mitsui OSK Lines Ltd.
     178,000       1,203,025  
Nippon Yusen KK
     229,400       968,969  
 
              
 
             2,636,541  
 
              
Media 0.1%
                
Dentsu, Inc.
     24,461       609,854  
Fuji Media Holdings, Inc.
     74       107,257  
Hakuhodo DY Holdings, Inc.
     3,540       179,603  
Jupiter Telecommunications Co. Ltd.
     369       378,190  
Toho Co. Ltd.
     14,900       246,276  
 
              
 
             1,521,180  
 
              
Metals & Mining 0.7%
                
Daido Steel Co. Ltd.
     44,000       210,112  
Dowa Holdings Co. Ltd.
     39,940       209,781  
Hitachi Metals Ltd.
     25,000       283,746  
JFE Holdings, Inc.
     70,300       2,174,177  
Kobe Steel Ltd.
     366,000       766,102  
Maruichi Steel Tube Ltd.
     8,200       163,356  
Mitsubishi Materials Corp.*
     168,000       446,869  
Mitsui Mining & Smelting Co. Ltd.
     94,100       257,251  
Nippon Steel Corp.
     765,000       2,609,318  
Nisshin Steel Co. Ltd.
     107,900       180,892  
Sumitomo Metal Industries Ltd.
     520,000       1,255,754  
Sumitomo Metal Mining Co. Ltd.
     81,000       1,077,285  
Tokyo Steel Manufacturing Co. Ltd.
     15,700       187,546  
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

10

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide International Index Fund
Common Stocks (continued)
                 
            Market  
    Shares     Value  
 
JAPAN (continued)
                
Metals & Mining (continued)
                
Yamato Kogyo Co. Ltd.
     6,600     $ 160,508  
 
              
 
             9,982,697  
 
              
Multiline Retail 0.1%
                
Isetan Mitsukoshi Holdings Ltd.
     56,378       532,524  
J. Front Retailing Co. Ltd.
     69,200       312,347  
Marui Group Co. Ltd.
     30,800       216,044  
Takashimaya Co. Ltd.
     44,000       340,930  
 
              
 
             1,401,845  
 
              
Office Electronics 0.7%
                
Brother Industries Ltd.
     37,300       399,727  
Canon, Inc.
     170,400       7,381,002  
Konica Minolta Holdings, Inc.
     70,400       737,441  
Ricoh Co. Ltd.
     101,200       1,397,659  
 
              
 
             9,915,829  
 
              
Oil, Gas & Consumable Fuels 0.2%
                
Cosmo Oil Co. Ltd.
     81,000       192,858  
Idemitsu Kosan Co. Ltd.
     3,400       253,216  
INPEX Corp.(a)
     121       591,914  
Japan Petroleum Exploration Co.
     5,100       200,555  
JX Holdings, Inc.*
     336,517       1,822,906  
Showa Shell Sekiyu KK
     29,600       217,837  
TonenGeneral Sekiyu KK
     41,000       369,806  
 
              
 
             3,649,092  
 
              
Paper & Forest Products 0.1%
                
Nippon Paper Group, Inc.
     15,037       400,070  
OJI Paper Co. Ltd.
     127,000       612,920  
 
              
 
             1,012,990  
 
              
Personal Products 0.2%
                
Kao Corp.
     82,300       1,946,116  
Shiseido Co. Ltd.
     52,300       1,166,883  
 
              
 
             3,112,999  
 
              
Pharmaceuticals 1.0%
                
Astellas Pharma, Inc.
     68,400       2,313,375  
Chugai Pharmaceutical Co. Ltd.
     33,000       577,506  
Daiichi Sankyo Co. Ltd.
     102,300       1,901,498  
Dainippon Sumitomo Pharma Co. Ltd.
     23,000       172,237  
Eisai Co. Ltd.
     38,700       1,319,313  
Hisamitsu Pharmaceutical Co., Inc.
     10,100       392,612  
Kyowa Hakko Kirin Co. Ltd.
     41,000       420,366  
Mitsubishi Tanabe Pharma Corp.
     34,000       497,267  
Ono Pharmaceutical Co. Ltd.
     12,700       524,723  
Santen Pharmaceutical Co. Ltd.
     10,900       364,859  
Shionogi & Co. Ltd.
     44,800       915,929  
Taisho Pharmaceutical Co. Ltd.
     21,900       426,200  
Takeda Pharmaceutical Co. Ltd.
     113,400       5,203,750  
Tsumura & Co.
     8,900       267,361  
 
              
 
             15,296,996  
 
              
Real Estate Investment Trusts (REITs) 0.1%
                
Japan Prime Realty Investment Corp.
     114       257,036  
Japan Real Estate Investment Corp.
     74       653,862  
Japan Retail Fund Investment Corp.
     250       321,044  
Nippon Building Fund, Inc.
     78       663,787  
Nomura Real Estate Office Fund, Inc.
     45       237,408  
 
              
 
             2,133,137  
 
              
Real Estate Management & Development 0.5%
                
Aeon Mall Co. Ltd.
     12,300       269,470  
Daito Trust Construction Co. Ltd.
     11,500       626,894  
Daiwa House Industry Co. Ltd.
     75,000       736,568  
Mitsubishi Estate Co. Ltd.
     176,600       2,486,929  
Mitsui Fudosan Co. Ltd.
     125,700       1,860,107  
Nomura Real Estate Holdings, Inc.
     15,000       184,443  
NTT Urban Development Corp.
     188       152,379  
Sumitomo Realty & Development Co. Ltd.
     56,000       1,006,809  
Tokyo Tatemono Co. Ltd.
     63,000       204,976  
Tokyu Land Corp.
     72,000       261,409  
 
              
 
             7,789,984  
 
              
Road & Rail 0.8%
                
Central Japan Railway Co.
     229       1,862,615  
East Japan Railway Co.
     51,690       3,322,046  
Keihin Electric Express Railway Co. Ltd.
     71,000       661,012  
Keio Corp.
     86,400       580,811  
Keisei Electric Railway Co. Ltd.
     41,000       247,131  
Kintetsu Corp.(a)
     239,500       771,217  
Nippon Express Co. Ltd.
     125,500       508,870  
Odakyu Electric Railway Co. Ltd.(a)
     94,100       858,565  
Tobu Railway Co. Ltd.(a)
     120,000       687,534  
Tokyu Corp.
     167,900       722,148  
West Japan Railway Co.
     260       961,338  
 
              
 
             11,183,287  
 
              
Semiconductors & Semiconductor Equipment 0.3%
                
Advantest Corp.
     24,000       517,386  
Elpida Memory, Inc.*(a)
     26,600       399,522  
Rohm Co. Ltd.
     14,500       913,782  
Shinko Electric Industries Co. Ltd.
     10,000       132,053  
Sumco Corp.*
     17,100       323,618  
Tokyo Electron Ltd.
     25,700       1,378,387  
 
              
 
             3,664,748  
 
              
Software 0.4%
                
Konami Corp.
     13,700       211,030  
Nintendo Co. Ltd.
     15,000       4,187,505  
Oracle Corp.
    5,800       307,074  
Square Enix Holdings Co. Ltd.
     10,000       192,371  
Trend Micro, Inc.
     15,500       457,055  
 
              
 
             5,355,035  
 
              
Specialty Retail 0.2%
                
ABC-Mart, Inc.
     4,300       139,567  
Fast Retailing Co. Ltd.
     8,000       1,202,709  
Nitori Co. Ltd.
     5,450       469,502  
Shimamura Co. Ltd.
     3,500       316,717  
USS Co. Ltd.
     3,250       243,525  
Yamada Denki Co. Ltd.
     12,680       855,822  
 
              
 
             3,227,842  
 
              
Textiles, Apparel & Luxury Goods 0.0%†
                
Asics Corp.
     25,000       246,149  
Nisshinbo Holdings, Inc.
     19,100       197,448  
 
              
 
             443,597  
 
              
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

11

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide International Index Fund
Common Stocks (continued)
                 
            Market  
    Shares     Value  
 
JAPAN (continued)
                
Tobacco 0.2%
                
Japan Tobacco, Inc.
     678     $ 2,182,051  
 
              
Trading Companies & Distributors 0.9%
                
ITOCHU Corp.
     230,500       1,793,966  
Marubeni Corp.
     254,000       1,362,809  
Mitsubishi Corp.
     205,800       4,441,629  
Mitsui & Co. Ltd.
     261,000       3,348,565  
Sojitz Corp.
     201,867       320,151  
Sumitomo Corp.
     170,300       1,807,480  
Toyota Tsusho Corp.
     31,500       478,404  
 
              
 
             13,553,004  
 
              
Transportation Infrastructure 0.0%†
                
Kamigumi Co. Ltd.
     39,000       305,701  
Mitsubishi Logistics Corp.
     16,400       188,218  
 
              
 
             493,919  
 
              
Wireless Telecommunication Services 0.6%
                
KDDI Corp.
     441       2,149,935  
NTT DoCoMo, Inc.
     2,331       3,703,322  
Softbank Corp.
     121,800       3,633,448  
 
              
 
             9,486,705  
 
              
 
             324,708,895  
 
              
JERSEY, CHANNEL ISLANDS 0.1%
                
Metals & Mining 0.1%
                
Randgold Resources Ltd.
     13,465       1,209,063  
 
              
LUXEMBOURG 0.5%
                
Energy Equipment & Services 0.1%
                
Tenaris SA
     72,573       1,449,566  
 
              
Media 0.1%
                
SES SA
     45,036       1,112,087  
 
              
Metals & Mining 0.2%
                
ArcelorMittal
     128,731       3,941,067  
 
              
Wireless Telecommunication Services 0.1%
                
Millicom International Cellular SA
     11,405       1,056,185  
 
              
 
             7,558,905  
 
              
MACAU 0.1%
                
Hotels, Restaurants & Leisure 0.1%
                
Sands China Ltd.*
     303,900       471,093  
Wynn Macau Ltd.*
     234,800       401,246  
 
              
 
             872,339  
 
              
 
             872,339  
 
              
MEXICO 0.0%†
                
Metals & Mining 0.0%†
                
Fresnillo PLC
     26,109       421,934  
 
              
NETHERLANDS 4.5%
                
Aerospace & Defense 0.1%
                
European Aeronautic Defence and Space Co. NV*
     61,428       1,455,556  
 
              
Air Freight & Logistics 0.1%
                
TNT NV
     54,821       1,634,073  
 
              
Beverages 0.2%
                
Heineken Holding NV
     16,522       647,790  
Heineken NV
     36,940       1,671,929  
 
              
 
             2,319,719  
 
              
Chemicals 0.2%
                
Akzo Nobel NV
     34,932       2,055,758  
Koninklijke DSM NV
     23,077       1,094,226  
 
              
 
             3,149,984  
 
              
Construction & Engineering 0.0%†
                
Koninklijke Boskalis Westminster NV
     10,411       430,009  
 
              
Diversified Financial Services 0.4%
                
ING Groep NV CVA*
     574,192       5,506,437  
 
              
Diversified Telecommunication Services 0.2%
                
Koninklijke (Royal) KPN NV(a)
     247,132       3,434,114  
 
              
Energy Equipment & Services 0.1%
                
Fugro NV CVA
     10,005       528,391  
SBM Offshore NV(a)
     25,682       405,479  
 
              
 
             933,870  
 
              
Food & Staples Retailing 0.2%
                
Koninklijke Ahold NV
     177,862       2,283,934  
 
              
Food Products 0.5%
                
Unilever NV CVA(a)
     244,894       7,202,941  
 
              
Industrial Conglomerates 0.3%
                
Koninklijke Philips Electronics NV
     147,050       4,571,337  
 
              
Insurance 0.1%
                
Aegon NV*
     236,632       1,421,342  
Delta Lloyd NV
     11,287       217,300  
 
              
 
             1,638,642  
 
              
Life Sciences Tools & Services 0.0%†
                
QIAGEN NV*
     33,712       626,917  
 
              
Media 0.2%
                
Reed Elsevier NV
     103,021       1,333,861  
Wolters Kluwer NV
     43,997       887,997  
 
              
 
             2,221,858  
 
              
Oil, Gas & Consumable Fuels 1.7%
                
Royal Dutch Shell PLC, Class B
     406,779       10,746,816  
Royal Dutch Shell PLC, Class A
     533,689       14,697,969  
 
              
 
             25,444,785  
 
              
Professional Services 0.1%
                
Randstad Holding NV*
     16,670       748,582  
 
              
Real Estate Investment Trusts (REITs) 0.0%†
                
Corio NV
     8,353       490,334  
 
              
Semiconductors & Semiconductor Equipment 0.1%
                
ASML Holding NV
     66,029       2,119,237  
 
              
Transportation Infrastructure 0.0%†
                
Koninklijke Vopak NV
     10,596       430,562  
 
              
 
             66,642,891  
 
              
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

12

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide International Index Fund
Common Stocks (continued)
                 
            Market  
    Shares     Value  
 
NEW ZEALAND 0.1%
                
Construction Materials 0.1%
                
Fletcher Building Ltd.
     90,609     $ 500,480  
 
              
Diversified Telecommunication Services 0.0%†
                
Telecom Corp of New Zealand Ltd.
     278,776       402,143  
 
              
Electric Utilities 0.0%†
                
Contact Energy Ltd.*(a)
     46,088       190,876  
 
              
Hotels, Restaurants & Leisure 0.0%†
                
Sky City Entertainment Group Ltd.
     86,105       189,550  
 
              
Transportation Infrastructure 0.0%†
                
Auckland International Airport Ltd.
     125,454       180,463  
 
              
 
             1,463,512  
 
              
NORWAY 0.7%
                
Chemicals 0.1%
                
Yara International ASA
     28,359       1,064,763  
 
              
Commercial Banks 0.1%
                
DnB NOR ASA
     146,672       1,814,949  
 
              
Diversified Telecommunication Services 0.1%
                
Telenor ASA
     126,654       1,949,197  
 
              
Energy Equipment & Services 0.0%†
                
Aker Solutions ASA
     24,801       320,977  
 
              
Industrial Conglomerates 0.1%
                
Orkla ASA(a)
     116,362       963,102  
 
              
Metals & Mining 0.1%
                
Norsk Hydro ASA(a)
     135,740       727,958  
 
              
Oil, Gas & Consumable Fuels 0.2%
                
StatoilHydro ASA
     167,270       3,383,080  
 
              
Semiconductors & Semiconductor Equipment 0.0%†
                
Renewable Energy Corp. ASA*(a)
     75,411       206,930  
 
              
 
             10,430,956  
 
              
PORTUGAL 0.3%
                
Commercial Banks 0.1%
                
Banco Comercial Portugues SA, Class R
     424,878       366,796  
Banco Espirito Santo SA REG
     85,089       406,849  
 
              
 
             773,645  
 
              
Construction Materials 0.0%†
                
Cimpor Cimentos de Portugal SGPS SA
     30,660       186,320  
 
              
Diversified Telecommunication Services 0.1%
                
Portugal Telecom SGPS SA REG
     85,775       943,747  
 
              
Electric Utilities 0.1%
                
EDP — Energias de Portugal SA
     261,849       860,977  
 
              
Food & Staples Retailing 0.0%†
                
Jeronimo Martins SGPS SA
     33,211       362,791  
 
              
Oil, Gas & Consumable Fuels 0.0%†
                
Galp Energia SGPS SA, Class B
     34,826       569,462  
 
              
Transportation Infrastructure 0.0%†
                
Brisa Auto-Estradas de Portugal SA
     27,147       177,093  
 
              
 
             3,874,035  
 
              
SINGAPORE 1.6%
                
Aerospace & Defense 0.0%†
                
Singapore Technologies Engineering Ltd.(a)
     255,000       608,778  
 
              
Airlines 0.1%
                
Singapore Airlines Ltd.
     80,613       927,471  
 
              
Commercial Banks 0.5%
                
DBS Group Holdings Ltd.
     258,050       2,738,804  
Oversea-Chinese Banking Corp. Ltd.
     371,600       2,472,911  
United Overseas Bank Ltd.
     183,500       2,684,455  
 
              
 
             7,896,170  
 
              
Distributors 0.0%†
                
Jardine Cycle & Carriage Ltd.
     15,604       411,454  
 
              
Diversified Financial Services 0.0%†
                
Singapore Exchange Ltd.(a)
     124,900       705,058  
 
              
Diversified Telecommunication Services 0.2%
                
Singapore Telecommunications Ltd.(a)
     1,201,003       2,760,462  
 
              
Food & Staples Retailing 0.0%†
                
Olam International Ltd.(a)
     180,500       374,051  
 
              
Food Products 0.1%
                
Golden Agri-Resources Ltd.
     1,044,771       442,790  
Wilmar International Ltd.
     192,158       887,657  
 
              
 
             1,330,447  
 
              
Hotels, Restaurants & Leisure 0.1%
                
Genting Singapore PLC*
     910,217       852,577  
 
              
Industrial Conglomerates 0.2%
                
Fraser and Neave Ltd.
     147,369       596,130  
Keppel Corp. Ltd.
     192,000       1,321,057  
SembCorp Industries Ltd.(a)
     156,243       485,853  
 
              
 
             2,403,040  
 
              
Machinery 0.0%†
                
Cosco Corp. Singapore Ltd.(a)
     169,066       204,531  
SembCorp Marine Ltd.
     126,200       372,203  
 
              
 
             576,734  
 
              
Marine 0.0%†
                
Neptune Orient Lines Ltd.*(a)
     121,649       183,988  
 
              
Media 0.1%
                
Singapore Press Holdings Ltd.(a)
     239,500       728,395  
 
              
Real Estate Investment Trusts (REITs) 0.1%
                
Ascendas Real Estate Investment Trust
     211,306       329,967  
CapitaMall Trust
     335,800       472,518  
 
              
 
             802,485  
 
              
Real Estate Management & Development 0.2%
                
CapitaLand Ltd.
     387,345       1,130,601  
CapitaMalls Asia Ltd.
     203,800       319,957  
City Developments Ltd.
     82,099       732,218  
Keppel Land Ltd.
     108,000       321,852  
UOL Group Ltd.
     86,120       250,743  
 
              
 
             2,755,371  
 
              
Road & Rail 0.0%†
                
ComfortDelgro Corp. Ltd.
     280,620       331,050  
 
              
Wireless Telecommunication Services 0.0%†
                
StarHub Ltd.
     93,181       161,831  
 
              
 
             23,809,362  
 
              
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

13

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide International Index Fund
Common Stocks (continued)
                 
            Market  
    Shares     Value  
 
SPAIN 3.8%
                
Airlines 0.0%†
                
Iberia Lineas Aereas de Espana SA*
     71,773     $ 243,633  
 
              
Biotechnology 0.0%†
                
Grifols SA
     21,642       241,079  
 
              
Commercial Banks 1.7%
                
Banco Bilbao Vizcaya Argentaria SA
     533,524       7,154,503  
Banco de Sabadell SA(a)
     149,331       847,952  
Banco de Valencia SA(a)
     29,025       174,162  
Banco Popular Espanol SA
     132,430       874,996  
Banco Santander SA(a)
     1,241,324       16,126,167  
Bankinter SA(a)
     41,211       308,130  
 
              
 
             25,485,910  
 
              
Construction & Engineering 0.1%
                
ACS Actividades de Construccion y Servicios SA
     21,239       920,261  
Ferrovial SA
     63,758       558,082  
Fomento de Construcciones y Contratas SA
     5,751       149,269  
 
              
 
             1,627,612  
 
              
Diversified Financial Services 0.0%†
                
Criteria Caixacorp SA
     125,966       614,529  
 
              
Diversified Telecommunication Services 1.0%
                
Telefonica SA
     619,174       14,021,413  
 
              
Electric Utilities 0.4%
                
Acciona SA(a)
     3,829       337,069  
Iberdrola SA
     589,446       4,147,595  
Red Electrica Corp. SA
     16,306       712,755  
 
              
 
             5,197,419  
 
              
Electrical Equipment 0.0%†
                
Gamesa Corp. Tecnologica SA*
     31,279       272,607  
 
              
Gas Utilities 0.1%
                
Enagas
     27,931       514,707  
Gas Natural SDG SA
     33,732       563,202  
 
              
 
             1,077,909  
 
              
Independent Power Producers & Energy Traders 0.0%†
                
EDP Renovaveis SA*(a)
     37,892       226,380  
Iberdrola Renovables SA
     127,285       444,930  
 
              
 
             671,310  
 
              
Information Technology Services 0.0%†
                
Indra Sistemas SA(a)
     14,845       242,142  
 
              
Insurance 0.0%†
                
Mapfre SA
     113,834       374,425  
 
              
Machinery 0.0%†
                
Zardoya Otis SA*(b)
     980       15,287  
Zardoya Otis SA
     19,618       305,918  
 
              
 
             321,205  
 
              
Media 0.0%†
                
Gestevision Telecinco SA
     14,857       170,227  
 
              
Metals & Mining 0.0%†
                
Acerinox SA
     14,504       248,624  
 
              
Oil, Gas & Consumable Fuels 0.2%
                
Repsol YPF SA
     109,578       2,583,723  
 
              
Specialty Retail 0.2%
                
Industria de Diseno Textil SA
     33,164       2,193,861  
 
              
Transportation Infrastructure 0.1%
                
Abertis Infraestructuras SA
     44,541       751,737  
 
              
 
             56,339,365  
 
              
SWEDEN 2.9%
                
Building Products 0.1%
                
Assa Abloy AB, Class B
     47,966       1,060,361  
 
              
Capital Markets 0.0%†
                
Ratos AB, Class B
     16,611       474,229  
 
              
Commercial Banks 0.7%
                
Nordea Bank AB
     484,593       4,836,333  
Skandinaviska Enskilda Banken AB, Class A(a)
     211,589       1,452,237  
Svenska Handelsbanken AB, Class A
     74,725       2,141,259  
Swedbank AB*
     105,884       1,208,549  
 
              
 
             9,638,378  
 
              
Commercial Services & Supplies 0.0%†
                
Securitas AB, Class B
     45,885       465,803  
 
              
Communications Equipment 0.3%
                
Telefonaktiebolaget LM Ericsson, Class B
     452,002       4,987,465  
 
              
Construction & Engineering 0.1%
                
Skanska AB, Class B
     61,543       1,040,846  
 
              
Diversified Financial Services 0.1%
                
Investor AB, Class B
     69,759       1,314,158  
Kinnevik Investment AB, Class B
     31,603       593,279  
 
              
 
             1,907,437  
 
              
Diversified Telecommunication Services 0.2%
                
Tele2 AB, Class B
     48,467       859,746  
TeliaSonera AB
     342,401       2,475,871  
 
              
 
             3,335,617  
 
              
Health Care Equipment & Supplies 0.1%
                
Getinge AB, Class B
     29,071       643,729  
 
              
Household Durables 0.1%
                
Electrolux AB
     35,961       802,449  
Husqvarna AB, Class B
     61,391       433,477  
 
              
 
             1,235,926  
 
              
Machinery 0.6%
                
Alfa Laval AB
     50,768       786,401  
Atlas Copco AB, Class A
     100,458       1,643,011  
Atlas Copco AB, Class B
     58,378       870,847  
Sandvik AB
     154,051       1,990,888  
Scania AB, Class B
     46,407       855,357  
SKF AB, Class B(a)
     58,407       1,114,429  
Volvo AB, Class B*
     165,818       2,066,527  
 
              
 
             9,327,460  
 
              
Media 0.0%†
                
Modern Times Group AB, Class B
     7,593       476,127  
 
              
Metals & Mining 0.1%
                
Boliden AB
     41,187       489,686  
SSAB AB, Class A(a)
     26,970       390,477  
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

14

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide International Index Fund
Common Stocks (continued)
                 
            Market  
    Shares     Value  
 
SWEDEN (continued)
                
Metals & Mining (continued)
                
SSAB AB, Series B(a)
     12,849     $ 165,285  
 
              
 
             1,045,448  
 
              
Paper & Forest Products 0.1%
                
Holmen AB, Class B(a)
     7,619       200,012  
Svenska Cellulosa AB, Class B
     86,469       1,247,304  
 
              
 
             1,447,316  
 
              
Specialty Retail 0.3%
                
Hennes & Mauritz AB, Class B
     153,888       4,850,878  
 
              
Tobacco 0.1%
                
Swedish Match AB
     35,274       832,655  
 
              
 
             42,769,675  
 
              
SWITZERLAND 8.0%
                
Biotechnology 0.0%†
                
Actelion Ltd. REG*
     15,078       609,971  
 
              
Building Products 0.1%
                
Geberit AG REG
    5,822       952,081  
 
              
Capital Markets 1.3%
                
Credit Suisse Group AG REG
     169,299       7,673,890  
GAM Holding Ltd.*
     31,816       368,034  
Julius Baer Group Ltd.
     31,816       1,112,521  
UBS AG REG*
     548,189       9,305,609  
 
              
 
             18,460,054  
 
              
Chemicals 0.3%
                
Givaudan SA REG REG
     1,168       1,077,298  
Sika AG
     308       580,101  
Syngenta AG REG
     14,122       3,118,996  
 
              
 
             4,776,395  
 
              
Computers & Peripherals 0.0%†
                
Logitech International SA REG*(a)
     27,443       431,729  
 
              
Construction Materials 0.2%
                
Holcim Ltd. REG
     37,291       2,490,346  
 
              
Diversified Financial Services 0.0%†
                
Pargesa Holding SA
     3,897       267,765  
 
              
Diversified Telecommunication Services 0.1%
                
Swisscom AG REG
     3,495       1,308,931  
 
              
Electrical Equipment 0.5%
                
ABB Ltd. REG REG*
     331,511       6,691,813  
 
              
Food Products 1.8%
                
Aryzta AG
     12,175       497,397  
Lindt & Spruengli AG REG
     16       391,702  
Lindt & Spruengli AG — Participation Certificate
     123       277,120  
Nestle SA REG
     522,763       25,838,593  
 
              
 
             27,004,812  
 
              
Health Care Equipment & Supplies 0.1%
                
Nobel Biocare Holding AG REG
     18,741       315,749  
Sonova Holding AG REG
    6,990       848,224  
Straumann Holding AG REG
     1,239       271,638  
 
              
 
             1,435,611  
 
              
Insurance 0.6%
                
Baloise Holding AG REG
    7,537       603,902  
Swiss Life Holding AG REG*
     4,495       472,332  
Swiss Reinsurance Co. Ltd. REG
     52,747       2,428,994  
Zurich Financial Services AG
     22,077       5,152,268  
 
              
 
             8,657,496  
 
              
Life Sciences Tools & Services 0.0%†
                
Lonza Group AG REG
     6,934       539,206  
 
              
Machinery 0.1%
                
Schindler Holding AG REG
     3,215       282,372  
Schindler Holding AG
     7,328       657,219  
 
              
 
             939,591  
 
              
Marine 0.1%
                
Kuehne + Nagel International AG REG
     8,140       873,284  
 
              
Metals & Mining 0.3%
                
Xstrata PLC
     308,739       4,911,181  
 
              
Pharmaceuticals 2.0%
                
Novartis AG REG
     318,114       15,464,530  
Roche Holding AG
     105,888       13,768,198  
 
              
 
             29,232,728  
 
              
Professional Services 0.1%
                
Adecco SA REG
     17,993       917,385  
SGS SA REG
     840       1,180,166  
 
              
 
             2,097,551  
 
              
Semiconductors & Semiconductor Equipment 0.1%
                
STMicroelectronics NV
     95,508       784,275  
 
              
Textiles, Apparel & Luxury Goods 0.3%
                
Compagnie Financiere Richemont SA, Class A
     78,169       3,051,851  
Swatch Group AG (The)
     4,650       1,440,981  
Swatch Group AG (The) REG
     6,449       362,661  
 
              
 
             4,855,493  
 
              
 
             117,320,313  
 
              
UNITED KINGDOM 18.8%
                
Aerospace & Defense 0.4%
                
BAE Systems PLC
     537,248       2,634,019  
Cobham PLC
     167,466       624,055  
Rolls-Royce Group PLC*
     280,417       2,552,032  
 
              
 
             5,810,106  
 
              
Airlines 0.0%†
                
British Airways PLC*(a)
     82,024       282,237  
 
              
Beverages 0.7%
                
Diageo PLC
     376,737       6,538,052  
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

15

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide International Index Fund
Common Stocks (continued)
                 
            Market  
    Shares     Value  
 
UNITED KINGDOM (continued)
                
Beverages (continued)
                
SABMiller PLC
     143,520     $ 4,357,506  
 
              
 
             10,895,558  
 
              
Capital Markets 0.2%
                
3I Group PLC
     145,196       646,993  
ICAP PLC
     85,403       536,695  
Investec PLC
     68,040       528,039  
Man Group PLC
     255,154       869,259  
Schroders PLC
     16,849       340,151  
 
              
 
             2,921,137  
 
              
Chemicals 0.1%
                
Johnson Matthey PLC
     32,510       862,236  
 
              
Commercial Banks 3.6%
                
Barclays PLC
     1,713,659       8,875,548  
HSBC Holdings PLC
     2,626,040       26,704,824  
Lloyds Banking Group PLC*
     6,022,600       6,500,300  
Royal Bank of Scotland Group PLC*
     2,536,331       1,985,660  
Standard Chartered PLC
     304,669       8,802,436  
 
              
 
             52,868,768  
 
              
Commercial Services & Supplies 0.2%
                
Aggreko PLC
     39,118       940,468  
Babcock International Group PLC
     54,466       473,350  
G4S PLC
     211,955       860,517  
Serco Group PLC
     75,967       659,642  
 
              
 
             2,933,977  
 
              
Construction & Engineering 0.0%†
                
Balfour Beatty PLC
     102,981       402,202  
 
              
Containers & Packaging 0.0%†
                
Rexam PLC
     129,591       628,488  
 
              
Diversified Financial Services 0.0%†
                
London Stock Exchange Group PLC
     21,555       218,779  
 
              
Diversified Telecommunication Services 0.3%
                
BT Group PLC
     1,161,623       2,595,194  
Cable & Wireless Worldwide PLC
     408,341       427,699  
Inmarsat PLC
     67,131       776,638  
 
              
 
             3,799,531  
 
              
Electric Utilities 0.2%
                
Scottish & Southern Energy PLC(a)
     137,990       2,401,072  
 
              
Energy Equipment & Services 0.1%
                
Amec PLC
     49,752       681,257  
Petrofac Ltd.
     38,993       764,330  
 
              
 
             1,445,587  
 
              
Food & Staples Retailing 0.7%
                
J Sainsbury PLC
     181,164       977,177  
Tesco PLC
     1,198,861       7,351,852  
WM Morrison Supermarkets PLC
     317,765       1,321,394  
 
              
 
             9,650,423  
 
              
Food Products 0.4%
                
Associated British Foods PLC
     53,951       868,918  
Unilever PLC
     192,858       5,479,357  
 
              
 
             6,348,275  
 
              
Health Care Equipment & Supplies 0.1%
                
Smith & Nephew PLC
     133,622       1,162,697  
 
              
Hotels, Restaurants & Leisure 0.3%
                
Carnival PLC
     25,079       905,784  
Compass Group PLC
     280,321       2,330,680  
Intercontinental Hotels Group PLC
     40,394       700,134  
Thomas Cook Group PLC
     135,352       386,270  
Tui Travel PLC
     81,883       270,209  
Whitbread PLC
     27,755       613,131  
 
              
 
             5,206,208  
 
              
Household Products 0.3%
                
Reckitt Benckiser Group PLC
     91,804       4,501,257  
 
              
Independent Power Producers & Energy Traders 0.1%
                
International Power PLC
     228,359       1,280,369  
 
              
Industrial Conglomerates 0.1%
                
Smiths Group PLC
     59,968       1,049,758  
Tomkins PLC
     132,879       674,753  
 
              
 
             1,724,511  
 
              
Insurance 0.8%
                
Admiral Group PLC
     30,072       682,868  
Aviva PLC
     418,915       2,345,854  
Legal & General Group PLC
     899,437       1,262,639  
Old Mutual PLC
     814,563       1,544,202  
Prudential PLC
     378,581       3,294,551  
RSA Insurance Group PLC
     517,408       1,034,585  
Standard Life PLC
     343,225       1,088,700  
 
              
 
             11,253,399  
 
              
Internet & Catalog Retail 0.0%†
                
Home Retail Group PLC
     131,397       492,363  
 
              
Machinery 0.0%†
                
Invensys PLC
     117,422       492,185  
 
              
Media 0.4%
                
British Sky Broadcasting Group PLC
     172,341       1,922,594  
ITV PLC*
     556,506       451,363  
Pearson PLC
     121,522       1,889,342  
Reed Elsevier PLC
     181,759       1,574,873  
 
              
 
             5,838,172  
 
              
Metals & Mining 2.2%
                
Anglo American PLC*
     197,527       7,810,460  
Antofagasta PLC
     58,951       913,250  
BHP Billiton PLC
     332,435       10,183,990  
Eurasian Natural Resources Corp PLC
     37,171       528,147  
Kazakhmys PLC
     31,349       597,343  
Lonmin PLC*
     24,047       591,716  
Rio Tinto PLC
     217,603       11,262,204  
Vedanta Resources PLC
     18,467       706,982  
 
              
 
             32,594,092  
 
              
Multiline Retail 0.1%
                
Marks & Spencer Group PLC
     236,593       1,278,822  
Next PLC
     28,137       948,428  
 
              
 
             2,227,250  
 
              
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

16

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide International Index Fund
Common Stocks (continued)
                 
            Market  
    Shares     Value  
 
UNITED KINGDOM (continued)
                
Metals & Mining (continued)
                
Multi-Utilities 0.6%
                
Centrica PLC
     769,505     $ 3,667,741  
National Grid PLC
     521,985       4,181,284  
United Utilities Group PLC
     103,211       947,336  
 
              
 
             8,796,361  
 
              
Oil, Gas & Consumable Fuels 2.1%
                
BG Group PLC
     507,362       8,136,634  
BP PLC
     2,821,347       18,042,771  
Cairn Energy PLC*
     209,198       1,532,364  
Tullow Oil PLC
     132,511       2,559,542  
 
              
 
             30,271,311  
 
              
Pharmaceuticals 1.7%
                
AstraZeneca PLC
     219,311       10,996,240  
GlaxoSmithKline PLC
     781,916       13,651,976  
 
              
 
             24,648,216  
 
              
Professional Services 0.1%
                
Capita Group PLC (The)
     95,449       1,076,796  
 
              
Real Estate Investment Trusts (REITs) 0.2%
                
British Land Co. PLC
     129,874       940,872  
Capital Shopping Centres Group PLC
     72,352       388,905  
Hammerson PLC
     101,892       620,989  
Land Securities Group PLC
     113,692       1,091,817  
Segro PLC
     106,329       466,736  
 
              
 
             3,509,319  
 
              
Road & Rail 0.0%†
                
Firstgroup PLC
     72,664       419,421  
 
              
Semiconductors & Semiconductor Equipment 0.1%
                
ARM Holdings PLC
     197,209       1,014,283  
 
              
Software 0.1%
                
Autonomy Corp. PLC*
     33,417       862,251  
Sage Group PLC (The)
     205,843       771,520  
 
              
 
             1,633,771  
 
              
Specialty Retail 0.1%
                
Kingfisher PLC
     353,386       1,193,618  
 
              
Textiles, Apparel & Luxury Goods 0.1%
                
Burberry Group PLC
     67,599       892,813  
 
              
Tobacco 1.0%
                
British American Tobacco PLC
     299,663       10,309,867  
Imperial Tobacco Group PLC
     152,374       4,311,674  
 
              
 
             14,621,541  
 
              
Trading Companies & Distributors 0.1%
                
Bunzl PLC
     47,925       518,866  
Wolseley PLC*
     42,430       957,022  
 
              
 
             1,475,888  
 
              
Water Utilities 0.0%†
                
Severn Trent PLC
     33,286       683,719  
 
              
Wireless Telecommunication Services 1.3%
                
Vodafone Group PLC
     7,939,010       18,511,343  
 
              
 
             276,989,279  
 
              
UNITED STATES 0.1%
                
Health Care Equipment & Supplies 0.1%
                
Synthes, Inc.
     8,950       1,030,068  
 
              
Total Common Stocks
(cost $1,570,128,489)
             1,457,498,337  
 
              
Preferred Stocks 0.4%
                 
            Market  
    Shares     Value  
 
GERMANY 0.4%(a)
                
Automobiles 0.2%
                
Bayerische Motoren Werke AG
     8,063     $ 295,882  
Porsche Automobil Holding SE
     13,193       671,060  
Volkswagen AG
     25,486       2,700,221  
 
              
 
             3,667,163  
 
              
Health Care Equipment & Supplies 0.1%
                
Fresenius SE
     12,148       863,617  
 
              
Household Products 0.1%
                
Henkel AG & Co. KGaA
     26,862       1,334,104  
 
              
Multi-Utilities 0.0%†
                
RWE AG(a)
     5,847       380,116  
 
              
Total Preferred Stocks
(cost $6,246,730)
             6,245,000  
 
              
Right 0.0%
 
    Number of     Market  
    Rights     Value  
 
GUERNSEY, CHANNEL ISLANDS 0.0%†
                
Insurance 0.0%†
                
Resolution Ltd. 8/5/2010*
     216,813       295,984  
 
              
Total Right
(cost $950,250)
             295,984  
 
              
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

17

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide International Index Fund
Mutual Fund 0.0%
                 
            Market  
    Shares     Value  
 
Money Market Fund 0.0%†
                
Invesco Liquid Assets Portfolio — Institutional Class, 0.26% (c)
     191,816       191,816  
 
              
Total Mutual Fund (cost $191,816)
             191,816  
 
              
Repurchase Agreements 6.1%
                 
    Principal     Market  
    Amount     Value  
 
Barclays Capital, 0.21%, dated 07/30/2010, due 08/02/2010, repurchase price $25,000,438, collateralized by U.S. Treasury Securities ranging from 1.00% - 3.25%, maturing 07/31/2011 - 03/31/2017; total market value $25,500,001. (d)
   $ 25,000,000     $ 25,000,000  
Goldman Sachs & Co., 0.21%, dated 07/30/2010, due 08/02/2010, repurchase price $25,231,212, collateralized by U.S. Government Agency Mortgages ranging from 0.00% - 14.00%, maturing 09/15/2010 - 07/20/2060; total market value $25,735,386. (d)
     25,230,770       25,230,770  
Morgan Stanley, 0.21%, dated 07/30/2010, due 08/02/2010, repurchase price $39,502,405, collateralized by U.S. Government Agency Mortgages ranging from 3.50% - 6.00%, maturing 05/01/2022 - 06/01/2040; total market value $40,291,748. (d)
     39,501,714       39,501,714  
 
              
 
                
Total Repurchase Agreements
(cost $89,732,484)
             89,732,484  
 
              
 
                
Total Investments
(cost $1,667,249,769) (e) — 105.4%
             1,553,963,621  
 
              
 
                
Liabilities in excess of other assets — (5.4)%
             (80,276,540 )
 
              
 
                
NET ASSETS — 100.0%
           $ 1,473,687,081  
 
              
 
*   Denotes a non-income producing security.
 
(a)   The security or a portion of this security is on loan at July 31, 2010. The total value of securities on loan at July 31, 2010 was $84,835,288.
 
(b)   Fair Valued Security.
 
(c)   Represents 7-day effective yield as of July 31, 2010.
 
(d)   The security was purchased with cash collateral held from securities on loan. The total value of this security as of July 31, 2010 was $89,732,484.
 
(e)   At July 31, 2010, the tax basis cost of the Fund’s investments was $1,683,823,260, tax unrealized appreciation and depreciation were $168,764,821 and $(298,624,460), respectively.
 
†   Amount rounds to less than 0.1%.
     
AB
   Stock Company
 
AG
   Stock Corporation
 
AS
   Stock Corporation
 
ASA
   Stock Corporation
 
CVA
   Dutch Certificate
 
KGaA
   Limited Partnership with shares
 
KK
   Joint Stock Company
 
Ltd.
   Limited
 
NV
   Public Traded Company
 
OYJ
   Public Traded Company
 
PLC
   Public Limited Company
 
REG
   Registered Shares
 
REIT
   Real Estate Investment Trust
 
RSP
   Savings Shares
 
SA
   Stock Company
 
SCA
   Limited partnership with share capital
 
SCPA
   Italian consortium joint-stock company
 
SE
   European Public Limited Liability Company
 
SGPS
   Holding Enterprise
 
SpA
   Limited Share Company
 
VVPR
   Belgian Dividend Coupon
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

18

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide International Index Fund
At July 31, 2010, the Fund’s open futures contracts were as follows:
                             
                Notional Value        
Number of               Covered by     Unrealized  
Contracts   Long Contracts   Expiration     Contracts     Depreciation  
 
11  
E-mini MSCI EAFE Index
     09/17/10     $ 809,325     $ (6,480 )
72  
Euro STOXX 50 Index
     09/17/10       2,575,546       (7,545 )
22  
FTSE 100 Index
     09/17/10       1,810,642       (9,064 )
7  
SPI 200 Index
     09/16/10       706,593       (3,945 )
18  
Topix Index
     09/09/10       1,764,686       (26,600 )
   
 
                    
   
 
           $ 7,666,792     $ (53,634 )
   
 
                    
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

19

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide International Index Fund
In accordance with the authorative guidance on fair value measurements and disclosures under GAAP, the Fund discloses the fair value of its investments in a hierarchy that prioritizes the inputs to valuation techniques used to measure the fair value. This standard defines fair value, sets out a framework for measuring fair value and expands disclosures about fair value measurements. The hierarchy gives the highest priority to readily available unadjusted quoted prices in active markets for identical assets (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements) when market prices are not readily available or reliable. The three levels of the hierarchy established are summarized below:
     
Level 1:
  Quoted prices in active markets for identical assets.
 
    
Level 2:
  Other significant observable inputs (including quoted prices of similar securities, interest rates, prepayment speeds, credit risk, etc).
 
    
Level 3:
  Significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments).
Changes in valuation techniques may result in transfers in or out of an investment’s assigned level within the hierarchy.
The inputs or methodology used to value securities and other investments are not intended to indicate the risk associated with investing in those securities and investments.
The following is a summary of the inputs used to value the Fund’s net assets as of July 31, 2010:
                                 
Asset Type*   Level 1   Level 2   Level 3   Total
 
Assets:
                                
Common Stocks
   $ —     $ 1,457,498,337     $ —     $ 1,457,498,337  
Mutual Fund
     191,816       —       —       191,816  
Preferred Stocks
     —       6,245,000       —       6,245,000  
Repurchase Agreements
     —       89,732,484       —       89,732,484  
Right
     —       295,984       —       295,984  
 
Total Assets
     191,816       1,553,771,805       —       1,553,963,621  
 
 
                                
Liabilities:
                                
Futures Contracts
     (53,634 )     —       —       (53,634 )
 
Total Liabilities
     (53,634 )     —       —       (53,634 )
 
 
                                
 
Total
   $ 138,182     $ 1,553,771,805     $ —     $ 1,553,909,987  
 
 
*   See Statement of Investments for identification of securities by type and industry classification.
                                 
    Common Stocks   Rights   Warrants   Total
 
Balance as of 10/31/09
   $ —     $ —     $ —     $ —  
 
Accrued Accretion/(Amortization)
     —       —       —       —  
 
Change in Unrealized Appreciation/(Depreciation)
     —       —       —       —  
 
Net Purchases/(Sales)
     —       —       —       —  
 
Transfers Into Level 3
     —       —       —       —  
 
Transfers Out of Level 3
     —       —       —       —  
 
Balance as of 7/31/10
   $ —     $ —     $ —     $ —  
 
Amounts designated as “—”, which may include fair valued securities, are zero or have been rounded to zero.
For the period ended July 31, 2010 there were no significant transfers between Levels 1 and 2.
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

20

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide International Index Fund
The Fund is subject to the guidance on disclosures about derivative instruments and hedging activities. The guidance requires enhanced disclosure about an entity’s derivative and hedging activities.
The following is a summary of the Fund’s derivative instruments categorized by risk exposure as of July 31, 2010. Please see below for information on the Fund’s policy regarding the objectives and strategies for using futures contracts.
Futures Contracts
The Fund is subject to equity price risk in the normal course of pursuing its investment objective. The Fund may enter into financial futures contracts (“futures contracts”) to gain exposure to, or hedge against changes in, the value of equities. The Fund may also enter into futures contracts for non-hedging purposes; however, in those instances, the aggregate initial margin and premiums required to enter into and maintain futures contracts may not exceed 5% of the Fund’s NAV after taking into account unrealized gains and unrealized losses on such futures contracts.
Should market conditions change unexpectedly, the Fund may not achieve the anticipated benefits of futures contracts and may realize a loss. The use of futures contracts for hedging purposes involves the risk of imperfect correlation in the movements in the price of the futures contracts and the underlying assets. Futures contracts involve minimal counterparty credit risk to the Fund because futures contracts are exchange-traded, and the exchange’s clearinghouse, as counterparty to all exchange-traded futures contracts, guarantees futures contracts against default.
Fair Values of Derivative Instruments as of July 31, 2010
Derivatives not accounted for as hedging instruments
             
        Fair Value  
 
Liabilities:            
Futures — Equity contracts  
Net Assets — Unrealized depreciation from futures contracts
     (53,634 )
   
 
      
Total  
 
   $ (53,634 )
   
 
      
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

21

 

Statement of Investments
July 31, 2010 (Unaudited)
Nationwide Mid Cap Market Index Fund
Common Stocks 97.7%
                 
            Market  
    Shares     Value  
 
Aerospace & Defense 0.6%
                
Alliant Techsystems, Inc.*(a)
     29,172     $ 1,959,191  
BE Aerospace, Inc.*
     90,219       2,652,439  
 
              
 
             4,611,630  
 
              
Airlines 0.4%
                
AirTran Holdings, Inc.*(a)
     120,914       582,805  
Alaska Air Group, Inc.*(a)
     31,572       1,628,800  
JetBlue Airways Corp.*(a)
     183,725       1,181,352  
 
              
 
             3,392,957  
 
              
Auto Components 0.8%
                
BorgWarner, Inc.*
     103,907       4,557,361  
Gentex Corp.
     123,108       2,372,291  
 
              
 
             6,929,652  
 
              
Automobiles 0.1%
                
Thor Industries, Inc.(a)
     34,526       961,204  
 
              
Beverages 0.3%
                
Hansen Natural Corp.*(a)
     62,683       2,625,791  
 
              
Biotechnology 1.0%
                
United Therapeutics Corp.*
     43,385       2,121,093  
Vertex Pharmaceuticals, Inc.*
     178,472       6,007,367  
 
              
 
             8,128,460  
 
              
Building Products 0.2%
                
Lennox International, Inc.(a)
     42,844       1,870,997  
 
              
Capital Markets 2.1%
                
Affiliated Managers Group, Inc.*(a)
     39,322       2,785,177  
Apollo Investment Corp.(a)
     171,106       1,728,170  
Eaton Vance Corp.(a)
     104,649       3,135,284  
Greenhill & Co., Inc.
     18,884       1,285,056  
Jefferies Group, Inc.(a)
     107,598       2,656,595  
Raymond James Financial, Inc.(a)
     87,772       2,341,757  
SEI Investments Co.(a)
     113,961       2,185,772  
Waddell & Reed Financial, Inc., Class A
     76,278       1,817,705  
 
              
 
             17,935,516  
 
              
Chemicals 3.4%
                
Albemarle Corp.
     80,671       3,518,869  
Ashland, Inc.(a)
     69,291       3,523,447  
Cabot Corp.
     57,700       1,702,150  
Cytec Industries, Inc.
     43,219       2,157,493  
Intrepid Potash, Inc.*(a)
     36,460       882,332  
Lubrizol Corp.
     60,205       5,628,566  
Minerals Technologies, Inc.
     16,640       868,109  
NewMarket Corp.(a)
     10,238       1,097,411  
Olin Corp.(a)
     69,617       1,413,225  
RPM International, Inc.
     114,429       2,147,832  
Scotts Miracle-Gro Co.(The), Class A
     40,139       1,936,707  
Sensient Technologies Corp.
     43,707       1,287,608  
Valspar Corp.(a)
     87,620       2,752,144  
 
              
 
             28,915,893  
 
              
Commercial Banks 3.7%
                
Associated Banc-Corp.(a)
     152,632       2,074,269  
BancorpSouth, Inc.(a)
     64,845       950,628  
Bank of Hawaii Corp.(a)
     42,406       2,112,243  
Cathay General Bancorp
     69,311       815,097  
City National Corp.(a)
     38,493       2,181,398  
Commerce Bancshares, Inc.(a)
     64,832       2,538,173  
Cullen/Frost Bankers, Inc.(a)
     53,440       2,950,422  
FirstMerit Corp.(a)
     95,123       1,874,874  
Fulton Financial Corp.(a)
     175,122       1,595,361  
International Bancshares Corp.(a)
     45,692       792,299  
PacWest Bancorp(a)
     27,431       574,131  
Prosperity Bancshares, Inc.(a)
     41,151       1,394,196  
SVB Financial Group *(a)
     36,799       1,589,349  
Synovus Financial Corp.(a)
     691,225       1,811,010  
TCF Financial Corp.(a)
     109,611       1,736,238  
Trustmark Corp.(a)
     50,179       1,103,938  
Valley National Bancorp(a)
     142,079       2,061,566  
Webster Financial Corp.(a)
     58,873       1,097,393  
Westamerica Bancorp(a)
     25,885       1,391,578  
Wilmington Trust Corp.(a)
     80,505       816,321  
 
              
 
             31,460,484  
 
              
Commercial Services & Supplies 1.6%
                
Brink’s Co. (The)(a)
     42,284       926,020  
Clean Harbors, Inc.*(a)
     20,183       1,274,758  
Copart, Inc.*
     59,520       2,168,909  
Corrections Corp of America *(a)
     100,161       1,960,151  
Deluxe Corp.
     44,912       924,289  
Herman Miller, Inc.(a)
     50,281       864,833  
HNI Corp.
     39,915       1,031,403  
Mine Safety Appliances Co.(a)
     26,775       670,714  
Rollins, Inc.(a)
     38,585       842,696  
Waste Connections, Inc.*(a)
     68,287       2,606,515  
 
              
 
             13,270,288  
 
              
Communications Equipment 1.8%
                
ADC Telecommunications, Inc.*
     85,624       1,089,994  
ADTRAN, Inc.(a)
     48,823       1,541,830  
Ciena Corp.*(a)
     81,131       1,062,005  
CommScope, Inc.*
     83,372       1,695,786  
F5 Networks, Inc.*(a)
     70,741       6,213,182  
Plantronics, Inc.(a)
     43,400       1,300,698  
Polycom, Inc.*(a)
     75,210       2,232,233  
 
              
 
             15,135,728  
 
              
Computers & Peripherals 0.4%
                
Diebold, Inc.
     58,211       1,665,999  
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

1

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide Mid Cap Market Index Fund
Common Stocks (continued)
                 
            Market  
    Shares     Value  
 
Computers & Peripherals (continued)
                
NCR Corp.*
     141,560     $ 1,939,372  
 
              
 
             3,605,371  
 
              
Construction & Engineering 1.4%
                
Aecom Technology Corp.*(a)
     101,236       2,443,837  
Granite Construction, Inc.(a)
     29,802       692,897  
KBR, Inc.
     141,748       3,172,320  
Shaw Group, Inc. (The)*
     74,431       2,384,769  
URS Corp.*
     73,093       2,952,226  
 
              
 
             11,646,049  
 
              
Construction Materials 0.4%
                
Martin Marietta Materials, Inc.(a)
     40,103       3,424,796  
 
              
Consumer Finance 0.2%
                
AmeriCredit Corp.*
     85,519       2,061,863  
 
              
Containers & Packaging 1.7%
                
AptarGroup, Inc.(a)
     59,947       2,581,917  
Greif, Inc., Class A(a)
     30,344       1,809,413  
Packaging Corp. of America
     91,060       2,185,440  
Rock-Tenn Co., Class A
     34,376       1,829,491  
Silgan Holdings, Inc.(a)
     47,371       1,346,284  
Sonoco Products Co.(a)
     88,612       2,897,612  
Temple-Inland, Inc.
     94,580       1,897,275  
 
              
 
             14,547,432  
 
              
Distributors 0.3%
                
LKQ Corp.*(a)
     126,079       2,493,843  
 
              
Diversified Consumer Services 1.5%
                
Career Education Corp.*(a)
     58,494       1,429,008  
Corinthian Colleges, Inc.*(a)
     77,795       707,935  
ITT Educational Services, Inc.*(a)
     25,606       2,067,428  
Matthews International Corp., Class A(a)
     26,396       953,160  
Regis Corp.(a)
     50,702       772,192  
Service Corp. International(a)
     224,933       1,916,429  
Sotheby’s
     59,168       1,605,228  
Strayer Education, Inc.(a)
     12,281       2,940,071  
 
              
 
             12,391,451  
 
              
Diversified Financial Services 0.4%
                
MSCI, Inc., Class A*
     102,669       3,313,129  
 
              
Diversified Telecommunication Services 0.4%
                
Cincinnati Bell, Inc.*
     179,700       531,912  
tw telecom, Inc.*
     133,906       2,533,501  
 
              
 
             3,065,413  
 
              
Electric Utilities 1.8%
                
Cleco Corp.(a)
     53,245       1,520,145  
DPL, Inc.
     104,986       2,657,196  
Great Plains Energy, Inc.
     119,640       2,146,341  
Hawaiian Electric Industries, Inc.(a)
     82,245       1,936,870  
IDACORP, Inc.(a)
     42,457       1,495,335  
NV Energy, Inc.(a)
     207,360       2,633,472  
PNM Resources, Inc.(a)
     76,513       905,149  
Westar Energy, Inc.(a)
     97,644       2,331,739  
 
              
 
             15,626,247  
 
              
Electrical Equipment 1.6%
                
Acuity Brands, Inc.(a)
     38,446       1,619,730  
Ametek, Inc.
     93,868       4,155,536  
Hubbell, Inc., Class B(a)
     52,970       2,499,654  
Regal-Beloit Corp.
     33,984       2,067,247  
Thomas & Betts Corp.*
     46,602       1,847,303  
Woodward Governor Co.(a)
     50,169       1,517,111  
 
              
 
             13,706,581  
 
              
Electronic Equipment, Instruments & Components 2.2%
                
Arrow Electronics, Inc.*(a)
     106,302       2,635,226  
Avnet, Inc.*
     134,009       3,370,326  
Ingram Micro, Inc., Class A*
     145,988       2,413,182  
Itron, Inc.*
     35,574       2,314,800  
National Instruments Corp.
     49,953       1,593,501  
Tech Data Corp.*(a)
     44,768       1,771,022  
Trimble Navigation Ltd.*(a)
     107,067       3,037,491  
Vishay Intertechnology, Inc.*(a)
     165,030       1,401,105  
 
              
 
             18,536,653  
 
              
Energy Equipment & Services 2.0%
                
Atwood Oceanics, Inc.*(a)
     49,730       1,352,656  
Exterran Holdings, Inc.*(a)
     55,730       1,486,319  
Helix Energy Solutions Group, Inc.*
     81,227       762,721  
Oceaneering International, Inc.*
     48,673       2,408,340  
Patterson-UTI Energy, Inc.
     135,226       2,221,763  
Pride International, Inc.*
     155,008       3,687,640  
Superior Energy Services, Inc.*
     69,361       1,580,737  
Tidewater, Inc.
     45,771       1,875,696  
Unit Corp.*
     35,894       1,468,065  
 
              
 
             16,843,937  
 
              
Food & Staples Retailing 0.4%
                
BJ’s Wholesale Club, Inc.*
     47,513       2,164,217  
Ruddick Corp.(a)
     36,173       1,282,333  
 
              
 
             3,446,550  
 
              
Food Products 1.5%
                
Corn Products International, Inc.
     66,416       2,214,309  
Flowers Foods, Inc.(a)
     68,025       1,648,246  
Green Mountain Coffee Roasters, Inc.*(a)
     93,075       2,865,779  
Lancaster Colony Corp.(a)
     17,207       893,387  
Ralcorp Holdings, Inc.*
     48,450       2,829,480  
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

2

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide Mid Cap Market Index Fund
Common Stocks (continued)
                 
            Market  
    Shares     Value  
 
Food Products (continued)
                
Smithfield Foods, Inc.*(a)
     130,278     $ 1,856,462  
Tootsie Roll Industries, Inc.(a)
     23,802       600,525  
 
              
 
             12,908,188  
 
              
Gas Utilities 2.1%
                
AGL Resources, Inc.
     68,715       2,611,170  
Atmos Energy Corp.
     82,219       2,384,351  
Energen Corp.
     63,448       2,819,629  
National Fuel Gas Co.(a)
     72,308       3,474,399  
Questar Corp.
     154,167       2,536,047  
UGI Corp.
     96,362       2,597,920  
WGL Holdings, Inc.(a)
     44,706       1,612,993  
 
              
 
             18,036,509  
 
              
Health Care Equipment & Supplies 3.9%
                
Beckman Coulter, Inc.
     61,877       2,835,823  
Edwards Lifesciences Corp.*
     100,015       5,780,867  
Gen-Probe, Inc.*(a)
     43,790       1,969,236  
Hill-Rom Holdings, Inc.
     55,665       1,839,172  
Hologic, Inc.*(a)
     228,685       3,233,606  
IDEXX Laboratories, Inc.*(a)
     50,887       2,989,102  
Immucor, Inc.*
     61,500       1,182,030  
Kinetic Concepts, Inc.*(a)
     55,055       1,955,003  
Masimo Corp.(a)
     46,699       1,077,813  
ResMed, Inc.*(a)
     66,926       4,396,369  
STERIS Corp.
     52,310       1,662,935  
Teleflex, Inc.
     35,231       1,996,541  
Thoratec Corp.*
     50,598       1,860,994  
 
              
 
             32,779,491  
 
              
Health Care Providers & Services 3.3%
                
Community Health Systems, Inc.*(a)
     83,747       2,715,915  
Health Management Associates, Inc., Class A*(a)
     220,967       1,582,124  
Health Net, Inc.*
     87,721       2,065,830  
Henry Schein, Inc.*
     80,653       4,233,476  
Kindred Healthcare, Inc.*
     34,858       463,611  
LifePoint Hospitals, Inc.*
     48,797       1,508,315  
Lincare Holdings, Inc.
     87,694       2,083,609  
Mednax, Inc.*(a)
     41,577       1,960,356  
Omnicare, Inc.(a)
     106,096       2,613,144  
Owens & Minor, Inc.(a)
     55,696       1,514,374  
Psychiatric Solutions, Inc.*
     50,464       1,672,377  
Universal Health Services, Inc., Class B
     85,716       3,083,204  
VCA Antech, Inc.*(a)
     75,877       1,581,277  
WellCare Health Plans, Inc.*(a)
     37,421       965,088  
 
              
 
             28,042,700  
 
              
Hotels, Restaurants & Leisure 2.2%
                
Bally Technologies, Inc.*(a)
     48,746       1,574,496  
Bob Evans Farms, Inc.
     26,600       697,452  
Boyd Gaming Corp.*(a)
     48,679       411,824  
Brinker International, Inc.(a)
     91,059       1,431,448  
Burger King Holdings, Inc.
     81,447       1,407,404  
Cheesecake Factory, Inc. (The)*(a)
     53,315       1,249,704  
Chipotle Mexican Grill, Inc.*(a)
     27,770       4,107,183  
International Speedway Corp., Class A
     26,897       696,632  
Life Time Fitness, Inc.*(a)
     36,857       1,340,121  
Panera Bread Co., Class A*(a)
     28,257       2,209,980  
Scientific Games Corp., Class A*(a)
     58,159       615,904  
Wendy’s/Arby’s Group, Inc., Class A(a)
     296,118       1,291,074  
WMS Industries, Inc.*
     46,038       1,772,923  
 
              
 
             18,806,145  
 
              
Household Durables 1.6%
                
American Greetings Corp., Class A(a)
     34,977       716,679  
KB Home(a)
     65,917       750,135  
M.D.C. Holdings, Inc.(a)
     33,291       969,434  
Mohawk Industries, Inc.*(a)
     49,633       2,428,543  
NVR, Inc.*(a)
     5,444       3,410,666  
Ryland Group, Inc.(a)
     38,383       626,411  
Toll Brothers, Inc.*(a)
     124,128       2,154,862  
Tupperware Brands Corp.
     55,765       2,196,583  
 
              
 
             13,253,313  
 
              
Household Products 0.9%
                
Church & Dwight Co., Inc.(a)
     62,564       4,146,116  
Energizer Holdings, Inc.*(a)
     61,857       3,805,443  
 
              
 
             7,951,559  
 
              
Independent Power Producers & Energy Traders 0.0%†
                
Dynegy, Inc.*
     89,253       316,848  
 
              
Industrial Conglomerates 0.2%
                
Carlisle Cos., Inc.
     53,720       1,809,290  
 
              
Information Technology Services 2.8%
                
Acxiom Corp.*(a)
     70,342       1,079,046  
Alliance Data Systems Corp.*(a)
     47,091       2,706,791  
Broadridge Financial Solutions, Inc.
     120,223       2,440,527  
Convergys Corp.*(a)
     109,167       1,219,395  
CoreLogic, Inc.
     91,868       1,840,116  
DST Systems, Inc.(a)
     32,573       1,338,099  
Gartner, Inc.*
     53,491       1,346,368  
Global Payments, Inc.
     71,970       2,715,428  
Hewitt Associates, Inc., Class A*
     73,109       3,589,652  
Lender Processing Services, Inc.
     83,600       2,670,184  
Mantech International Corp., Class A*
     19,804       785,229  
NeuStar, Inc., Class A*
     64,335       1,494,502  
SRA International, Inc., Class A*
     38,141       847,493  
 
              
 
             24,072,830  
 
              
Insurance 4.3%
                
American Financial Group, Inc.(a)
     66,850       1,970,069  
Arthur J Gallagher & Co.(a)
     91,445       2,324,532  
Brown & Brown, Inc.
     104,143       2,084,943  
Everest Re Group Ltd.
     52,005       4,036,628  
Fidelity National Financial, Inc., Class A(a)
     202,717       2,994,130  
First American Financial Corp.
     91,358       1,347,530  
Hanover Insurance Group, Inc. (The)
     39,585       1,735,011  
HCC Insurance Holdings, Inc.
     101,507       2,651,363  
Mercury General Corp.
     31,400       1,354,282  
Old Republic International Corp.
     212,748       2,661,477  
Protective Life Corp.(a)
     75,561       1,699,367  
Reinsurance Group of America, Inc.
     64,562       3,097,685  
StanCorp Financial Group, Inc.(a)
     41,798       1,575,367  
Transatlantic Holdings, Inc.
     56,765       2,713,935  
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

3

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide Mid Cap Market Index Fund
Common Stocks (continued)
                 
            Market  
    Shares     Value  
 
Insurance (continued)
                
Unitrin, Inc.
     44,112     $ 1,225,872  
W.R. Berkley Corp.(a)
     113,387       3,062,583  
 
              
 
             36,534,774  
 
              
Internet & Catalog Retail 0.4%
                
Netflix, Inc.*(a)
     36,440       3,736,922  
 
              
Internet Software & Services 0.9%
                
AOL, Inc.*
     94,201       1,970,685  
Digital River, Inc.*(a)
     34,970       919,361  
Equinix, Inc.*(a)
     40,048       3,744,889  
ValueClick, Inc.*(a)
     71,778       785,969  
 
              
 
             7,420,904  
 
              
Life Sciences Tools & Services 1.6%
                
Affymetrix, Inc.*(a)
     62,510       305,674  
Bio-Rad Laboratories, Inc., Class A*
     17,000       1,509,600  
Charles River Laboratories International, Inc.*(a)
     58,426       1,815,880  
Covance, Inc.*
     57,084       2,212,576  
Mettler-Toledo International, Inc.*
     29,697       3,468,610  
Pharmaceutical Product Development, Inc.(a)
     104,609       2,537,814  
Techne Corp.
     32,835       1,917,564  
 
              
 
             13,767,718  
 
              
Machinery 5.7%
                
AGCO Corp.*(a)
     82,242       2,858,732  
Bucyrus International, Inc.(a)
     71,497       4,448,543  
Crane Co.
     41,463       1,473,595  
Donaldson Co., Inc.(a)
     68,090       3,232,232  
Gardner Denver, Inc.(a)
     46,326       2,351,971  
Graco, Inc.(a)
     53,495       1,688,837  
Harsco Corp.(a)
     71,068       1,645,935  
IDEX Corp.(a)
     71,694       2,306,396  
Joy Global, Inc.
     91,068       5,406,707  
Kennametal, Inc.
     72,145       1,976,052  
Lincoln Electric Holdings, Inc.
     37,680       2,080,690  
Nordson Corp.(a)
     30,120       1,899,066  
Oshkosh Corp.*(a)
     79,235       2,724,099  
Pentair, Inc.(a)
     87,076       2,977,999  
SPX Corp.(a)
     44,093       2,626,179  
Terex Corp.*(a)
     96,000       1,895,040  
Timken Co.
     70,081       2,356,123  
Trinity Industries, Inc.(a)
     69,972       1,425,330  
Valmont Industries, Inc.
     17,660       1,254,743  
Wabtec Corp.(a)
     42,350       1,889,234  
 
              
 
             48,517,503  
 
              
Marine 0.4%
                
Alexander & Baldwin, Inc.(a)
     36,027       1,208,706  
Kirby Corp.*(a)
     47,696       1,833,434  
 
              
 
             3,042,140  
 
              
Media 0.7%
                
DreamWorks Animation SKG, Inc., Class A*(a)
     67,060       2,089,590  
Harte-Hanks, Inc.(a)
     33,840       381,715  
John Wiley & Sons, Inc., Class A
     38,200       1,504,316  
Lamar Advertising Co., Class A*(a)
     47,244       1,292,123  
Scholastic Corp.(a)
     22,920       580,564  
 
              
 
             5,848,308  
 
              
Metals & Mining 1.0%
                
Carpenter Technology Corp.(a)
     38,860       1,358,157  
Commercial Metals Co.
     100,700       1,449,073  
Reliance Steel & Aluminum Co.
     57,020       2,239,746  
Steel Dynamics, Inc.(a)
     191,128       2,736,953  
Worthington Industries, Inc.
     54,467       780,512  
 
              
 
             8,564,441  
 
              
Multiline Retail 0.8%
                
99 Cents Only Stores*(a)
     40,933       680,306  
Dollar Tree, Inc.*(a)
     112,299       4,977,092  
Saks, Inc.*(a)
     142,051       1,166,239  
 
              
 
             6,823,637  
 
              
Multi-Utilities 1.9%
                
Alliant Energy Corp.(a)
     97,768       3,378,862  
Black Hills Corp.(a)
     34,582       1,103,858  
MDU Resources Group, Inc.
     166,055       3,279,586  
NSTAR
     94,275       3,503,259  
OGE Energy Corp.(a)
     85,799       3,401,072  
Vectren Corp.
     71,778       1,777,941  
 
              
 
             16,444,578  
 
              
Office Electronics 0.2%
                
Zebra Technologies Corp., Class A*
     50,953       1,398,150  
 
              
Oil, Gas & Consumable Fuels 3.7%
                
Arch Coal, Inc.
     143,194       3,392,266  
Bill Barrett Corp.*(a)
     34,463       1,219,301  
Cimarex Energy Co.
     74,039       5,099,066  
Comstock Resources, Inc.*(a)
     41,702       1,055,478  
Forest Oil Corp.*(a)
     99,248       2,837,500  
Frontier Oil Corp.
     93,429       1,148,242  
Mariner Energy, Inc.*
     91,104       2,176,475  
Newfield Exploration Co.*
     117,743       6,294,541  
Overseas Shipholding Group, Inc.
     23,552       923,945  
Patriot Coal Corp.*(a)
     66,047       796,527  
Plains Exploration & Production Co.*
     123,661       2,788,555  
Quicksilver Resources, Inc.*(a)
     105,216       1,324,669  
Southern Union Co.
     109,870       2,479,766  
 
              
 
             31,536,331  
 
              
Paper & Forest Products 0.1%
                
Louisiana-Pacific Corp.*(a)
     111,943       814,945  
 
              
Personal Products 0.6%
                
Alberto-Culver Co.(a)
     75,644       2,214,100  
NBTY, Inc.*
     55,970       3,016,223  
 
              
 
             5,230,323  
 
              
Pharmaceuticals 1.3%
                
Endo Pharmaceuticals Holdings, Inc.*(a)
     102,626       2,464,050  
Medicis Pharmaceutical Corp., Class A(a)
     51,418       1,303,446  
Perrigo Co.(a)
     71,010       3,977,270  
Valeant Pharmaceuticals International*(a)
     55,452     $ 3,123,057  
 
              
 
             10,867,823  
 
              
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

4

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide Mid Cap Market Index Fund
Common Stocks (continued)
                 
            Market  
    Shares     Value  
 
Professional Services 1.0%
                
Corporate Executive Board Co. (The)
     30,300       853,551  
FTI Consulting, Inc.*(a)
     41,461       1,465,646  
Korn/Ferry International*
     40,615       570,641  
Manpower, Inc.(a)
     72,268       3,467,419  
Navigant Consulting, Inc.*
     44,675       439,602  
Towers Watson & Co., Class A(a)
     37,112       1,651,855  
 
              
 
             8,448,714  
 
              
Real Estate Investment Trusts (REITs) 7.8%
                
Alexandria Real Estate Equities, Inc.(a)
     39,098       2,758,364  
AMB Property Corp.(a)
     148,435       3,704,938  
BRE Properties, Inc.(a)
     54,890       2,277,935  
Camden Property Trust(a)
     58,123       2,645,759  
Corporate Office Properties Trust(a)
     52,016       1,950,600  
Cousins Properties, Inc.(a)
     90,440       619,514  
Duke Realty Corp.(a)
     218,222       2,609,935  
Equity One, Inc.
     30,529       520,214  
Essex Property Trust, Inc.(a)
     26,571       2,792,878  
Federal Realty Investment Trust(a)
     54,151       4,234,067  
Highwoods Properties, Inc.
     63,456       1,986,807  
Hospitality Properties Trust(a)
     108,820       2,225,369  
Liberty Property Trust(a)
     99,960       3,168,732  
Macerich Co. (The)(a)
     114,512       4,746,522  
Mack-Cali Realty Corp.
     69,989       2,255,046  
Nationwide Health Properties, Inc.(a)
     105,739       3,956,753  
Omega Healthcare Investors, Inc.(a)
     82,077       1,804,052  
Potlatch Corp.(a)
     35,268       1,307,032  
Rayonier, Inc.
     70,774       3,455,894  
Realty Income Corp.(a)
     92,218       2,959,276  
Regency Centers Corp.(a)
     72,198       2,724,753  
Senior Housing Properties Trust(a)
     112,447       2,535,680  
SL Green Realty Corp.(a)
     68,814       4,145,355  
UDR, Inc.(a)
     143,142       3,021,728  
Weingarten Realty Investors(a)
     92,308       1,954,160  
 
              
 
             66,361,363  
 
              
Real Estate Management & Development 0.3%
                
Jones Lang LaSalle, Inc.(a)
     37,103       2,873,998  
 
              
Road & Rail 1.2%
                
Con-way, Inc.(a)
     47,506       1,600,477  
J.B. Hunt Transport Services, Inc.
     77,549       2,752,214  
Kansas City Southern*
     89,777       3,294,816  
Landstar System, Inc.
     44,269       1,794,665  
Werner Enterprises, Inc.(a)
     38,947       896,950  
 
              
 
             10,339,122  
 
              
Semiconductors & Semiconductor Equipment 2.9%
                
Atmel Corp.*
     406,300       2,124,949  
Cree, Inc.*(a)
     94,871       6,720,663  
Fairchild Semiconductor International, Inc.*
     110,879       1,006,781  
Integrated Device Technology, Inc.*
     144,187       837,726  
International Rectifier Corp.*(a)
     62,383       1,218,340  
Intersil Corp., Class A
     109,174       1,240,217  
Lam Research Corp.*(a)
     111,685       4,711,990  
RF Micro Devices, Inc.*
     237,368       989,825  
Semtech Corp.*(a)
     54,532       947,766  
Silicon Laboratories, Inc.*(a)
     40,610       1,626,431  
Skyworks Solutions, Inc.*
     156,423       2,742,095  
 
              
 
             24,166,783  
 
              
Software 3.8%
                
ACI Worldwide, Inc.*(a)
     30,451       590,749  
Advent Software, Inc.*(a)
     13,869       710,925  
ANSYS, Inc.*(a)
     79,888       3,590,966  
Cadence Design Systems, Inc.*
     238,584       1,660,545  
FactSet Research Systems, Inc.(a)
     36,644       2,748,300  
Fair Isaac Corp.(a)
     40,300       961,155  
Informatica Corp.*(a)
     81,060       2,442,338  
Jack Henry & Associates, Inc.
     75,319       1,913,102  
Mentor Graphics Corp.*(a)
     94,306       907,224  
MICROS Systems, Inc.*(a)
     70,882       2,536,158  
Parametric Technology Corp.*(a)
     102,467       1,838,258  
Quest Software, Inc.*
     54,493       1,098,579  
Rovi Corp.*(a)
     90,076       4,008,382  
Solera Holdings, Inc.(a)
     61,800       2,347,164  
Synopsys, Inc.*(a)
     130,607       2,852,457  
TIBCO Software, Inc.*
     146,651       1,988,587  
 
              
 
             32,194,889  
 
              
Specialty Retail 3.8%
                
Aaron’s, Inc.(a)
     71,928       1,306,212  
Advance Auto Parts, Inc.
     77,156       4,130,161  
Aeropostale, Inc.*(a)
     82,545       2,346,754  
American Eagle Outfitters, Inc.(a)
     184,517       2,271,404  
AnnTaylor Stores Corp.*(a)
     51,492       903,170  
Barnes & Noble, Inc.(a)
     35,531       460,837  
Chico’s FAS, Inc.
     157,748       1,478,099  
Coldwater Creek, Inc.*(a)
     51,320       201,174  
Collective Brands, Inc.*(a)
     57,276       917,562  
Dick’s Sporting Goods, Inc.*(a)
     79,702       2,096,960  
Dress Barn, Inc.*
     52,974       1,308,458  
Foot Locker, Inc.(a)
     138,217       1,878,369  
Guess?, Inc.
     51,660       1,844,262  
J Crew Group, Inc.*(a)
     49,600       1,767,248  
PetSmart, Inc.(a)
     104,440       3,242,862  
Rent-A-Center, Inc.*
     58,080       1,277,179  
Tractor Supply Co.(a)
     32,079       2,229,811  
Williams-Sonoma, Inc.
     94,845       2,533,310  
 
              
 
             32,193,832  
 
              
Textiles, Apparel & Luxury Goods 1.2%
                
Fossil, Inc.*(a)
     42,822       1,695,751  
Hanesbrands, Inc.*
     84,377       2,113,644  
Phillips-Van Heusen Corp.(a)
     50,032       2,596,161  
Timberland Co. (The), Class A*(a)
     37,844       666,811  
Under Armour, Inc., Class A*(a)
     33,562       1,260,589  
Warnaco Group, Inc. (The)*(a)
     39,195       1,637,175  
 
              
 
             9,970,131  
 
              
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

5

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide Mid Cap Market Index Fund
Common Stocks (continued)
                 
            Market  
    Shares     Value  
 
Thrifts & Mortgage Finance 1.5%
                
Astoria Financial Corp. (a)
     72,591     $ 961,105  
First Niagara Financial Group, Inc. (a)
     184,500       2,474,145  
New York Community Bancorp, Inc. (a)
     384,346       6,633,812  
NewAlliance Bancshares, Inc.
    93,540       1,138,381  
Washington Federal, Inc.
    99,272       1,727,333  
 
              
 
             12,934,776  
 
              
Tobacco 0.1%
                
Universal Corp.
    21,328       945,897  
 
              
Trading Companies & Distributors 0.5%
                
GATX Corp. (a)
     40,856       1,154,591  
MSC Industrial Direct Co., Class A (a)
     39,088       1,969,644  
United Rentals, Inc. *
     53,407       703,904  
 
              
 
             3,828,139  
 
              
Water Utilities 0.3%
                
Aqua America, Inc. (a)
     120,888       2,356,107  
 
              
Wireless Telecommunication Services 0.5%
                
Syniverse Holdings, Inc. *(a)
     61,544       1,374,278  
Telephone & Data Systems, Inc. (a)
     76,271       2,603,129  
Telephone & Data Systems, Inc. — Special Shares
    4,800       144,048  
 
              
 
             4,121,455  
 
              
Total Common Stocks
(cost $865,342,266)
             829,208,491  
 
              
Mutual Fund 1.5%
                
Money Market Fund 1.5%
                
Invesco Liquid Assets Portfolio — Institutional Class, 0.26%(b)
     12,761,493       12,761,493  
 
              
Total Mutual Fund
(cost $12,761,493)
             12,761,493  
 
              
Repurchase Agreements 28.5%
                 
    Principal     Market  
    Amount     Value  
 
Barclays Capital, 0.21%, dated 07/30/2010, due 08/02/2010, repurchase price $50,000,875, collateralized by U.S. Treasury Securities ranging from 1.00% - 3.25%, maturing 07/31/2011 - 03/31/2017; total market value $51,000,002.(c)
   $ 50,000,000     $ 50,000,000  
Goldman Sachs & Co., 0.21%, dated 07/30/2010, due 08/02/2010, repurchase price $93,608,662, collateralized by U.S. Government Agency Mortgages ranging from 0.0% - 14.00%, maturing 09/15/2010 - 07/20/2060; total market value $95,479,165.(c)
     93,607,024       93,607,024  
Morgan Stanley, 0.21%, dated 07/30/2010, due 08/02/2010, repurchase price $98,178,774, collateralized by U.S. Government Agency Mortgages ranging from 3.50% - 6.00%, maturing 05/01/2022 - 06/01/2040; total market value $100,140,596.(c)
     98,177,056       98,177,056  
 
              
Total Repurchase Agreements
(cost $241,784,080)
             241,784,080  
 
              
 
                
Total Investments
(cost $1,119,887,839)(d) — 127.7%
             1,083,754,064  
Liabilities in excess of other assets — (27.7%)
             (234,843,186 )
 
              
NET ASSETS — 100.0%
           $ 848,910,878  
 
              
 
*   Denotes a non-income producing security.
 
(a)   The security or a portion of this security is on loan at July 31, 2010. The total value of securities on loan at July 31, 2010 was $236,788,449.
 
(b)   Represents 7-day effective yield as of July 31, 2010.
 
(c)   The security was purchased with cash collateral held from securities on loan. The total value of this security as of July 31, 2010 was $241,784,080.
 
(d)   At July 31, 2010, the tax basis cost of the Fund’s investments was $1,123,949,869, tax unrealized appreciation and depreciation were $95,747,859 and $(135,943,664), respectively.
 
†   Amount rounds to less than 0.1%.
 
Ltd.   Limited
 
REIT   Real Estate Investment Trust
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

6

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide Mid Cap Market Index Fund
At July 31, 2010, the Fund’s open futures contracts were as follows:
                                 
Number               Notional Value    
of               Covered by   Unrealized
Contracts   Long Contracts   Expiration   Contracts   Appreciation
 
  261    
E-mini S&P MidCap 400 Index
     09/17/10     $ 19,804,680     $ 218,779  
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

7

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide Mid Cap Market Index Fund
In accordance with the authorative guidance on fair value measurements and disclosures under GAAP, the Fund discloses the fair value of its investments in a hierarchy that prioritizes the inputs to valuation techniques used to measure the fair value. This standard defines fair value, sets out a framework for measuring fair value and expands disclosures about fair value measurements. The hierarchy gives the highest priority to readily available unadjusted quoted prices in active markets for identical assets (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements) when market prices are not readily available or reliable. The three levels of the hierarchy established are summarized below:
Level 1: Quoted prices in active markets for identical assets.
Level 2: Other significant observable inputs (including quoted prices of similar securities, interest rates, prepayment speeds, credit risk, etc).
Level 3: Significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments).
Changes in valuation techniques may result in transfers in or out of an investment’s assigned level within the hierarchy.
The inputs or methodology used to value securities and other investments are not intended to indicate the risk associated with investing in those securities and investments.
The following is a summary of the inputs used to value the Fund’s net assets as of July 31, 2010:
                                 
Asset Type*   Level 1   Level 2   Level 3   Total
 
Assets:
                                
Common Stocks
   $ 829,208,491     $ —     $ —     $ 829,208,491  
Futures Contracts
     218,779       —       —       218,779  
Mutual Fund
     12,761,493       —       —       12,761,493  
Repurchase Agreements
     —       241,784,080       —       241,784,080  
 
Total
   $ 842,188,763     $ 241,784,080     $ —     $ 1,083,972,843  
 
Amounts designated as “—” are zero or have been rounded to zero.
 
*   See Statement of Investments for identification of securities by type and industry classification.
For the period ended July 31, 2010 there were no significant transfers between Levels 1 and 2.
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

8

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide Mid Cap Market Index Fund
The Fund is subject to the guidance on disclosures about derivative instruments and hedging activities. The guidance requires enhanced disclosure about an entity’s derivative and hedging activities.
The following is a summary of the Fund’s derivative instruments categorized by risk exposure as of July 31, 2010. Please see below for information on the Fund’s policy regarding the objectives and strategies for using futures contracts.
Futures Contracts
The Fund is subject to equity price risk in the normal course of pursuing its investment objective. The Fund may enter into financial futures contracts (“futures contracts”) to gain exposure to, or hedge against changes in, the value of equities. The Fund may also enter into futures contracts for non-hedging purposes; however, in those instances, the aggregate initial margin and premiums required to enter into and maintain futures contracts may not exceed 5% of the Fund’s NAV after taking into account unrealized gains and unrealized losses on such futures contracts.
Should market conditions change unexpectedly, the Fund may not achieve the anticipated benefits of futures contracts and may realize a loss. The use of futures contracts for hedging purposes involves the risk of imperfect correlation in the movements in the price of the futures contracts and the underlying assets. Futures contracts involve minimal counterparty credit risk to the Fund because futures contracts are exchange-traded, and the exchange’s clearinghouse, as counterparty to all exchange-traded futures contracts, guarantees futures contracts against default.
Fair Values of Derivative Instruments as of July 31, 2010
     Derivatives not accounted for as hedging instruments
             
        Fair Value  
 
Assets:  
 
        
Futures — Equity contracts  
Net Assets — Unrealized appreciation from futures contracts
     218,779  
   
 
      
Total  
 
   $ 218,779  
   
 
      
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

9

 

Statement of Investments
July 31, 2010 (Unaudited)
Nationwide S&P 500 Index Fund
Common Stocks 98.6%
                 
            Market  
    Shares     Value  
 
Aerospace & Defense 2.8%
                
Boeing Co. (The)
    162,431     $ 11,068,048  
General Dynamics Corp.
    82,662       5,063,048  
Goodrich Corp. (a)
     26,651       1,942,058  
Honeywell International, Inc. (a)
     163,749       7,018,282  
ITT Corp.
    39,860       1,878,203  
L-3 Communications Holdings, Inc.
    24,826       1,813,291  
Lockheed Martin Corp.
    67,522       5,074,278  
Northrop Grumman Corp.
    64,605       3,788,437  
Precision Castparts Corp.
    30,277       3,699,547  
Raytheon Co.
    81,257       3,759,761  
Rockwell Collins, Inc. (a)
     34,441       1,968,648  
United Technologies Corp.
    200,556       14,259,532  
 
              
 
             61,333,133  
 
              
Air Freight & Logistics 1.1%
                
CH Robinson Worldwide, Inc. (a)
     35,582       2,319,947  
Expeditors International of Washington, Inc. (a)
     46,400       1,978,496  
FedEx Corp.
    66,853       5,518,715  
United Parcel Service, Inc., Class B
    212,616       13,820,040  
 
              
 
             23,637,198  
 
              
Airlines 0.1%
                
Southwest Airlines Co. (a)
     158,876       1,914,456  
 
              
Auto Components 0.2%
                
Goodyear Tire & Rubber Co. (The) *
     52,621       561,466  
Johnson Controls, Inc.
    143,758       4,141,668  
 
              
 
             4,703,134  
 
              
Automobiles 0.5%
                
Ford Motor Co. *(a)
     728,511       9,303,086  
Harley-Davidson, Inc.
    51,227       1,394,911  
 
              
 
             10,697,997  
 
              
Beverages 2.6%
                
Brown-Forman Corp., Class B (a)
     22,893       1,447,067  
Coca-Cola Co. (The)
    494,366       27,244,510  
Coca-Cola Enterprises, Inc.
    68,857       1,976,196  
Constellation Brands, Inc., Class A *
     42,300       721,638  
Dr. Pepper Snapple Group, Inc.
    52,699       1,978,847  
Molson Coors Brewing Co., Class B
    33,271       1,497,528  
PepsiCo, Inc.
    345,919       22,453,602  
 
              
 
             57,319,388  
 
              
Biotechnology 1.4%
                
Amgen, Inc. *
     205,472       11,204,388  
Biogen Idec, Inc. *(a)
     51,893       2,899,781  
Celgene Corp. *
     98,400       5,426,760  
Cephalon, Inc. *
     15,701       891,032  
Genzyme Corp. *(a)
     56,750       3,947,530  
Gilead Sciences, Inc. *(a)
     190,882       6,360,188  
 
              
 
             30,729,679  
 
              
Building Products 0.0%†
                
Masco Corp. (a)
     79,627       818,566  
 
              
Capital Markets 2.5%
                
Ameriprise Financial, Inc.
    56,551       2,397,197  
Bank of New York Mellon Corp. (The) (a)
     259,207       6,498,319  
Charles Schwab Corp. (The)
    208,313       3,080,949  
E*Trade Financial Corp. *
     40,685       595,221  
Federated Investors, Inc., Class B (a)
     19,511       414,023  
Franklin Resources, Inc.
    31,871       3,205,585  
Goldman Sachs Group, Inc. (The)
    110,419       16,653,394  
Invesco Ltd. (a)
     98,905       1,932,604  
Janus Capital Group, Inc. (a)
     36,531       382,845  
Legg Mason, Inc. (a)
     35,800       1,034,262  
Morgan Stanley
    298,840       8,065,692  
Northern Trust Corp. (a)
     52,536       2,468,667  
State Street Corp.
    106,950       4,162,494  
T. Rowe Price Group, Inc.
    55,982       2,700,012  
 
              
 
             53,591,264  
 
              
Chemicals 2.0%
                
Air Products & Chemicals, Inc.
    45,366       3,292,664  
Airgas, Inc.
    18,500       1,207,865  
CF Industries Holdings, Inc.
    14,840       1,204,860  
Dow Chemical Co. (The) (a)
     246,770       6,744,224  
E.I. du Pont de Nemours & Co.
    193,550       7,871,679  
Eastman Chemical Co. (a)
     15,760       987,206  
Ecolab, Inc.
    49,518       2,421,925  
FMC Corp. (a)
     16,900       1,056,081  
International Flavors & Fragrances, Inc.
    16,513       749,360  
Monsanto Co. (a)
     116,680       6,748,771  
PPG Industries, Inc. (a)
     35,806       2,487,443  
Praxair, Inc. (a)
     65,632       5,698,170  
Sherwin-Williams Co. (The)
    20,386       1,409,692  
Sigma-Aldrich Corp. (a)
     27,250       1,528,725  
 
              
 
             43,408,665  
 
              
Commercial Banks 3.0%
                
BB&T Corp. (a)
     147,615       3,665,281  
Comerica, Inc.
    37,326       1,431,825  
Fifth Third Bancorp (a)
     168,678       2,143,897  
First Horizon National Corp. *(a)
     49,749       570,621  
Huntington Bancshares, Inc.
    159,720       967,903  
KeyCorp (a)
     192,372       1,627,467  
M&T Bank Corp. (a)
     17,538       1,531,769  
Marshall & Ilsley Corp. (a)
     109,888       772,513  
PNC Financial Services Group, Inc.
    112,428       6,677,099  
Regions Financial Corp. (a)
     254,285       1,863,909  
SunTrust Banks, Inc. (a)
     106,926       2,774,730  
U.S. Bancorp
    410,136       9,802,250  
Wells Fargo & Co.
    1,116,647       30,964,621  
Zions Bancorporation (a)
     33,326       739,504  
 
              
 
             65,533,389  
 
              
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

1

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide S&P 500 Index Fund
Common Stocks (continued)
                 
            Market  
    Shares     Value  
 
Commercial Services & Supplies 0.5%
                
Avery Dennison Corp.
    22,979     $ 823,797  
Cintas Corp. (a)
     28,501       754,137  
Iron Mountain, Inc.
    39,000       923,130  
Pitney Bowes, Inc. (a)
     44,796       1,093,471  
Republic Services, Inc.
    69,699       2,220,610  
RR Donnelley & Sons Co.
    44,606       752,503  
Stericycle, Inc. *(a)
     18,600       1,171,800  
Waste Management, Inc. (a)
     106,113       3,602,536  
 
              
 
             11,341,984  
 
              
Communications Equipment 2.3%
                
Cisco Systems, Inc. *
     1,226,009       28,284,027  
Harris Corp. (a)
     29,200       1,300,276  
JDS Uniphase Corp. *
     45,694       495,780  
Juniper Networks, Inc. *(a)
     112,500       3,125,250  
Motorola, Inc. *
     494,428       3,703,266  
QUALCOMM, Inc.
    351,851       13,398,486  
Tellabs, Inc.
    84,452       589,475  
 
              
 
             50,896,560  
 
              
Computers & Peripherals 4.4%
                
Apple, Inc. *
     195,082       50,184,845  
Dell, Inc. *(a)
     368,358       4,877,060  
EMC Corp. *(a)
     439,596       8,699,605  
Hewlett-Packard Co.
    500,736       23,053,885  
Lexmark International, Inc., Class A *
     17,801       654,187  
NetApp, Inc. *(a)
     73,305       3,100,801  
QLogic Corp. *
     28,190       448,785  
SanDisk Corp. *
     48,900       2,136,930  
Western Digital Corp. *
     48,300       1,274,637  
 
              
 
             94,430,735  
 
              
Construction & Engineering 0.2%
                
Fluor Corp. (a)
     37,799       1,825,314  
Jacobs Engineering Group, Inc. *(a)
     26,900       983,733  
Quanta Services, Inc. *(a)
     45,200       970,896  
 
              
 
             3,779,943  
 
              
Construction Materials 0.1%
                
Vulcan Materials Co.
    26,886       1,216,323  
 
              
Consumer Finance 0.9%
                
American Express Co. (a)
     257,065       11,475,382  
Capital One Financial Corp.
    97,328       4,119,894  
Discover Financial Services (a)
     116,621       1,780,803  
SLM Corp. *
     102,265       1,227,180  
 
              
 
             18,603,259  
 
              
Containers & Packaging 0.2%
                
Ball Corp.
    20,630       1,201,491  
Bemis Co., Inc. (a)
     22,529       674,969  
Owens-Illinois, Inc. *(a)
     36,400       1,006,460  
Pactiv Corp. *
     28,836       877,191  
Sealed Air Corp. (a)
     33,008       713,963  
 
              
 
             4,474,074  
 
              
Distributors 0.1%
                
Genuine Parts Co. (a)
     34,816       1,491,169  
 
              
Diversified Consumer Services 0.1%
                
Apollo Group, Inc., Class A *(a)
     27,526       1,269,774  
DeVry, Inc.
    14,200       763,960  
H&R Block, Inc. (a)
     73,472       1,152,041  
 
              
 
             3,185,775  
 
              
Diversified Financial Services 4.3%
                
Bank of America Corp.
    2,150,413       30,191,798  
Citigroup, Inc. *
     4,842,139       19,852,770  
CME Group, Inc.
    14,226       3,966,209  
IntercontinentalExchange, Inc. *
     15,661       1,654,115  
JPMorgan Chase & Co.
    852,749       34,348,730  
Leucadia National Corp. *(a)
     39,531       873,240  
Moody’s Corp. (a)
     42,202       993,857  
NASDAQ OMX Group, Inc. (The) *
     30,100       586,047  
NYSE Euronext
    57,400       1,662,878  
 
              
 
             94,129,644  
 
              
Diversified Telecommunication Services 2.6%
                
AT&T, Inc.
    1,266,454       32,851,817  
CenturyLink, Inc.
    63,707       2,269,243  
Frontier Communications Corp. (a)
     214,807       1,641,125  
Qwest Communications International, Inc.
    317,930       1,799,484  
Verizon Communications, Inc.
    607,280       17,647,557  
Windstream Corp. (a)
     101,402       1,155,983  
 
              
 
             57,365,209  
 
              
Electric Utilities 1.9%
                
Allegheny Energy, Inc.
    36,796       838,949  
American Electric Power Co., Inc. (a)
     101,963       3,668,629  
Duke Energy Corp. (a)
     280,125       4,790,138  
Edison International
    71,332       2,364,656  
Entergy Corp. (a)
     40,476       3,137,295  
Exelon Corp. (a)
     141,198       5,906,312  
FirstEnergy Corp. (a)
     66,100       2,491,970  
NextEra Energy, Inc. (a)
     88,532       4,630,224  
Northeast Utilities
    36,798       1,024,456  
Pepco Holdings, Inc. (a)
     47,877       809,600  
Pinnacle West Capital Corp.
    22,625       861,786  
PPL Corp.
    100,481       2,742,126  
Progress Energy, Inc. (a)
     60,958       2,566,941  
Southern Co. (a)
     176,109       6,221,931  
 
              
 
             42,055,013  
 
              
Electrical Equipment 0.5%
                
Emerson Electric Co. (a)
     161,064       7,979,111  
Rockwell Automation, Inc. (a)
     30,476       1,650,275  
Roper Industries, Inc. (a)
     19,717       1,232,312  
 
              
 
             10,861,698  
 
              
Electronic Equipment, Instruments & Components 0.6%
                
Agilent Technologies, Inc. *
     73,876       2,063,357  
Amphenol Corp., Class A (a)
     38,200       1,711,360  
Corning, Inc.
    333,222       6,037,982  
FLIR Systems, Inc. *(a)
     32,400       964,224  
Jabil Circuit, Inc. (a)
     39,719       576,323  
Molex, Inc. (a)
     28,921       570,033  
 
              
 
             11,923,279  
 
              
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

2

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide S&P 500 Index Fund
Common Stocks (continued)
                 
            Market  
    Shares     Value  
 
Energy Equipment & Services 1.8%
                
Baker Hughes, Inc. (a)
     93,266     $ 4,501,950  
Cameron International Corp. *(a)
     52,300       2,070,557  
Diamond Offshore Drilling, Inc. (a)
     14,900       886,401  
FMC Technologies, Inc. *
     27,600       1,746,528  
Halliburton Co. (a)
     193,124       5,770,545  
Helmerich & Payne, Inc. (a)
     22,800       924,084  
Nabors Industries Ltd. *(a)
     60,654       1,116,640  
National Oilwell Varco, Inc.
    89,588       3,508,266  
Rowan Cos., Inc. *
     25,386       641,250  
Schlumberger Ltd. (a)
     257,136       15,340,734  
Smith International, Inc.
    53,000       2,198,440  
 
              
 
             38,705,395  
 
              
Food & Staples Retailing 2.5%
                
Costco Wholesale Corp. (a)
     94,152       5,339,360  
CVS Caremark Corp.
    291,902       8,958,472  
Kroger Co. (The)
    137,348       2,909,031  
Safeway, Inc.
    86,982       1,786,610  
SUPERVALU, Inc. (a)
     45,979       518,643  
Sysco Corp.
    126,733       3,924,921  
Walgreen Co. (a)
     211,725       6,044,749  
Wal-Mart Stores, Inc. (a)
     445,591       22,809,803  
Whole Foods Market, Inc. *(a)
     37,500       1,423,875  
 
              
 
             53,715,464  
 
              
Food Products 1.8%
                
Archer-Daniels-Midland Co.
    137,543       3,763,177  
Campbell Soup Co. (a)
     40,142       1,441,098  
ConAgra Foods, Inc. (a)
     94,828       2,226,561  
Dean Foods Co. *
     39,100       448,086  
General Mills, Inc.
    141,667       4,845,011  
H.J. Heinz Co. (a)
     67,557       3,004,935  
Hershey Co. (The)
    35,622       1,674,234  
Hormel Foods Corp.
    15,700       673,844  
JM Smucker Co. (The) (a)
     25,700       1,578,751  
Kellogg Co.
    54,442       2,724,822  
Kraft Foods, Inc., Class A
    373,115       10,898,689  
McCormick & Co., Inc., Non-Voting Shares (a)
     27,787       1,092,863  
Mead Johnson Nutrition Co.
    43,398       2,306,170  
Sara Lee Corp. (a)
     141,839       2,097,799  
Tyson Foods, Inc., Class A
    65,700       1,150,407  
 
              
 
             39,926,447  
 
              
Gas Utilities 0.1%
                
EQT Corp. (a)
     30,789       1,129,340  
Nicor, Inc. (a)
     9,805       429,361  
Oneok, Inc. (a)
     22,800       1,060,884  
 
              
 
             2,619,585  
 
              
Health Care Equipment & Supplies 1.7%
                
Baxter International, Inc.
    128,773       5,636,394  
Becton, Dickinson and Co.
    50,486       3,473,437  
Boston Scientific Corp. *(a)
     328,618       1,840,261  
C.R. Bard, Inc. (a)
     20,486       1,608,765  
CareFusion Corp. *
     38,598       813,260  
DENTSPLY International, Inc. (a)
     32,400       972,648  
Hospira, Inc. *
     35,127       1,830,117  
Intuitive Surgical, Inc. *(a)
     8,326       2,734,008  
Medtronic, Inc.
    237,006       8,762,112  
St. Jude Medical, Inc. *
     71,622       2,633,541  
Stryker Corp. (a)
     59,928       2,790,847  
Varian Medical Systems, Inc. *(a)
     27,000       1,490,400  
Zimmer Holdings, Inc. *
     43,501       2,305,118  
 
              
 
             36,890,908  
 
              
Health Care Providers & Services 2.0%
                
Aetna, Inc.
    91,284       2,542,259  
AmerisourceBergen Corp.
    61,704       1,849,269  
Cardinal Health, Inc.
    77,697       2,507,282  
CIGNA Corp.
    58,583       1,802,013  
Coventry Health Care, Inc. *
     31,200       618,696  
DaVita, Inc. *
     22,500       1,289,700  
Express Scripts, Inc. *
     117,680       5,316,783  
Humana, Inc. *
     36,361       1,709,694  
Laboratory Corp of America Holdings *(a)
     22,700       1,656,646  
McKesson Corp.
    57,853       3,634,326  
Medco Health Solutions, Inc. *
     97,992       4,703,616  
Patterson Cos., Inc. (a)
     21,200       565,616  
Quest Diagnostics, Inc.
    32,419       1,523,369  
Tenet Healthcare Corp. *(a)
     101,387       466,380  
UnitedHealth Group, Inc.
    243,812       7,424,075  
WellPoint, Inc. *
     91,629       4,647,423  
 
              
 
             42,257,147  
 
              
Health Care Technology 0.1%
                
Cerner Corp. *(a)
     14,549       1,126,820  
 
              
Hotels, Restaurants & Leisure 1.7%
                
Carnival Corp. (a)
     93,563       3,244,765  
Darden Restaurants, Inc. (a)
     29,876       1,251,506  
International Game Technology
    64,032       975,848  
Marriott International, Inc., Class A (a)
     54,326       1,842,195  
McDonald’s Corp.
    230,441       16,068,651  
Starbucks Corp. (a)
     159,124       3,954,231  
Starwood Hotels & Resorts Worldwide, Inc. (a)
     40,226       1,948,950  
Wyndham Worldwide Corp. (a)
     41,029       1,047,470  
Wynn Resorts Ltd. (a)
     14,515       1,272,675  
Yum! Brands, Inc. (a)
     100,162       4,136,690  
 
              
 
             35,742,981  
 
              
Household Durables 0.4%
                
D.R. Horton, Inc. (a)
     60,400       665,608  
Fortune Brands, Inc. (a)
     32,886       1,443,038  
Harman International Industries, Inc. *
     14,157       430,514  
Leggett & Platt, Inc. (a)
     34,701       723,169  
Lennar Corp., Class A
    33,274       491,457  
Newell Rubbermaid, Inc. (a)
     60,242       933,751  
Pulte Group, Inc. *(a)
     67,570       593,264  
Stanley Black & Decker, Inc.
    34,041       1,975,059  
Whirlpool Corp. (a)
     16,417       1,367,536  
 
              
 
             8,623,396  
 
              
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

3

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide S&P 500 Index Fund
Common Stocks (continued)
                 
            Market  
    Shares     Value  
 
Household Products 2.5%
                
Clorox Co. (a)
     30,286     $ 1,964,956  
Colgate-Palmolive Co.
    105,708       8,348,818  
Kimberly-Clark Corp. (a)
     88,391       5,667,631  
Procter & Gamble Co. (The)
    617,723       37,779,938  
 
              
 
             53,761,343  
 
              
Independent Power Producers & Energy Traders 0.2%
                
AES Corp. (The) *
     143,307       1,477,495  
Constellation Energy Group, Inc.
    44,986       1,421,557  
NRG Energy, Inc. *(a)
     56,073       1,271,736  
 
              
 
             4,170,788  
 
              
Industrial Conglomerates 2.4%
                
3M Co. (a)
     152,636       13,056,484  
General Electric Co.
    2,288,453       36,889,862  
Textron, Inc. (a)
     57,358       1,190,752  
 
              
 
             51,137,098  
 
              
Information Technology Services 3.1%
                
Automatic Data Processing, Inc.
    108,078       4,460,379  
Cognizant Technology Solutions Corp., Class A *(a)
     63,754       3,478,418  
Computer Sciences Corp.
    32,881       1,490,496  
Fidelity National Information Services, Inc. (a)
     70,165       2,011,631  
Fiserv, Inc. *
     32,734       1,639,973  
International Business Machines Corp. (b)
     275,057       35,317,319  
MasterCard, Inc., Class A
    20,643       4,335,856  
Paychex, Inc. (a)
     68,852       1,789,463  
SAIC, Inc. *
     61,558       1,023,710  
Teradata Corp. *
     37,600       1,195,680  
Total System Services, Inc. (a)
     40,678       606,509  
Visa, Inc., Class A
    96,749       7,096,539  
Western Union Co. (The)
    144,171       2,339,895  
 
              
 
             66,785,868  
 
              
Insurance 4.0%
                
ACE Ltd.
    72,095       3,826,803  
Aflac, Inc. (a)
     100,213       4,929,478  
Allstate Corp. (The)
    114,914       3,245,171  
American International Group, Inc. *(a)
     30,931       1,189,916  
Aon Corp. (a)
     58,627       2,208,479  
Assurant, Inc.
    25,600       954,624  
Berkshire Hathaway, Inc., Class B *(a)
     356,067       27,815,954  
Chubb Corp.
    70,362       3,703,152  
Cincinnati Financial Corp. (a)
     35,389       974,967  
Genworth Financial, Inc., Class A *(a)
     104,400       1,417,752  
Hartford Financial Services Group, Inc.
    94,981       2,223,505  
Lincoln National Corp.
    63,967       1,665,701  
Loews Corp. (a)
     75,403       2,801,221  
Marsh & McLennan Cos., Inc. (a)
     114,997       2,704,729  
MetLife, Inc.
    175,379       7,376,441  
Principal Financial Group, Inc. (a)
     68,907       1,764,708  
Progressive Corp. (The)
    148,100       2,908,684  
Prudential Financial, Inc.
    99,521       5,701,558  
Torchmark Corp. (a)
     18,531       983,440  
Travelers Cos., Inc. (The) (a)
     106,247       5,360,161  
Unum Group (a)
     72,449       1,653,286  
XL Group PLC
    72,146       1,279,149  
 
              
 
             86,688,879  
 
              
Internet & Catalog Retail 0.6%
                
Amazon.com, Inc. *(a)
     73,408       8,654,069  
Expedia, Inc.
    45,500       1,031,940  
priceline.com, Inc. *(a)
     10,048       2,254,771  
 
              
 
             11,940,780  
 
              
Internet Software & Services 1.7%
                
Akamai Technologies, Inc. *(a)
     37,400       1,434,664  
eBay, Inc. *
     242,748       5,075,861  
Google, Inc., Class A *
     51,868       25,148,200  
Monster Worldwide, Inc. *(a)
     24,931       342,053  
VeriSign, Inc. *(a)
     39,145       1,101,932  
Yahoo!, Inc. *
     253,848       3,523,410  
 
              
 
             36,626,120  
 
              
Leisure Equipment & Products 0.1%
                
Eastman Kodak Co. *(a)
     59,546       236,397  
Hasbro, Inc.
    27,485       1,158,493  
Mattel, Inc. (a)
     77,423       1,638,271  
 
              
 
             3,033,161  
 
              
Life Sciences Tools & Services 0.3%
                
Life Technologies Corp. *
     38,675       1,662,638  
PerkinElmer, Inc.
    25,696       500,044  
Thermo Fisher Scientific, Inc. *
     87,476       3,924,174  
Waters Corp. *
     19,936       1,279,094  
 
              
 
             7,365,950  
 
              
Machinery 1.8%
                
Caterpillar, Inc.
    134,254       9,364,216  
Cummins, Inc.
    43,200       3,439,152  
Danaher Corp.
    112,186       4,309,064  
Deere & Co.
    90,698       6,047,743  
Dover Corp.
    40,356       1,935,877  
Eaton Corp. (a)
     35,536       2,788,155  
Flowserve Corp.
    12,300       1,219,668  
Illinois Tool Works, Inc.
    82,594       3,592,839  
PACCAR, Inc.
    77,891       3,568,966  
Pall Corp. (a)
     25,691       982,424  
Parker Hannifin Corp.
    34,434       2,139,040  
Snap-on, Inc. (a)
     11,822       528,089  
 
              
 
             39,915,233  
 
              
Media 3.2%
                
CBS Corp. Non-Voting, Class B (a)
     145,037       2,143,647  
Comcast Corp., Class A
    605,221       11,783,653  
DIRECTV, Class A *
     194,933       7,243,710  
Discovery Communications, Inc., Class A *(a)
     61,300       2,366,793  
Gannett Co., Inc. (a)
     50,776       669,228  
Interpublic Group of Cos., Inc. (The) *(a)
     103,778       948,531  
McGraw-Hill Cos., Inc. (The)
    68,802       2,111,533  
Meredith Corp.
    8,235       261,461  
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

4

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide S&P 500 Index Fund
Common Stocks (continued)
                 
            Market  
    Shares     Value  
 
Media (continued)
                
New York Times Co. (The), Class A *(a)
     28,106     $ 245,646  
News Corp., Class A
    482,500       6,296,625  
Omnicom Group, Inc.
    66,682       2,484,571  
Scripps Networks Interactive, Inc., Class A
    18,722       798,119  
Time Warner Cable, Inc.
    75,491       4,315,820  
Time Warner, Inc.
    244,463       7,690,806  
Viacom, Inc., Class B
    130,037       4,296,423  
Walt Disney Co. (The)
    419,371       14,128,609  
Washington Post Co. (The), Class B
    1,285       540,330  
 
              
 
             68,325,505  
 
              
Metals & Mining 1.1%
                
AK Steel Holding Corp. (a)
     25,500       356,745  
Alcoa, Inc. (a)
     216,780       2,421,433  
Allegheny Technologies, Inc. (a)
     20,975       998,620  
Cliffs Natural Resources, Inc. (a)
     28,609       1,618,411  
Freeport-McMoRan Copper & Gold, Inc.
    100,805       7,211,590  
Newmont Mining Corp.
    104,932       5,865,699  
Nucor Corp. (a)
     67,460       2,640,384  
Titanium Metals Corp. *(a)
     18,500       409,590  
United States Steel Corp. (a)
     30,731       1,362,305  
 
              
 
             22,884,777  
 
              
Multiline Retail 0.8%
                
Big Lots, Inc. *(a)
     18,351       629,623  
Family Dollar Stores, Inc. (a)
     29,706       1,228,343  
J.C. Penney Co., Inc. (a)
     50,481       1,243,347  
Kohl’s Corp. *
     65,571       3,127,081  
Macy’s, Inc. (a)
     90,152       1,681,335  
Nordstrom, Inc. (a)
     35,092       1,193,128  
Sears Holdings Corp. *(a)
     10,361       735,631  
Target Corp.
    157,969       8,106,969  
 
              
 
             17,945,457  
 
              
Multi-Utilities 1.4%
                
Ameren Corp. (a)
     50,456       1,280,069  
CenterPoint Energy, Inc.
    87,477       1,244,798  
CMS Energy Corp. (a)
     50,856       809,627  
Consolidated Edison, Inc.
    59,910       2,763,049  
Dominion Resources, Inc. (a)
     127,242       5,342,892  
DTE Energy Co. (a)
     35,699       1,647,866  
Integrys Energy Group, Inc. (a)
     17,109       810,111  
NiSource, Inc. (a)
     61,658       1,017,357  
PG&E Corp. (a)
     79,472       3,528,557  
Public Service Enterprise Group, Inc. (a)
     110,922       3,649,334  
SCANA Corp. (a)
     25,500       976,905  
Sempra Energy (a)
     52,881       2,630,830  
TECO Energy, Inc.
    47,681       779,107  
Wisconsin Energy Corp. (a)
     25,500       1,384,140  
Xcel Energy, Inc. (a)
     97,487       2,143,739  
 
              
 
             30,008,381  
 
              
Office Electronics 0.1%
                
Xerox Corp.
    295,354       2,876,748  
 
              
Oil, Gas & Consumable Fuels 8.9%
                
Anadarko Petroleum Corp. (a)
     105,531       5,187,904  
Apache Corp.
    77,256       7,384,129  
Cabot Oil & Gas Corp. (a)
     22,600       688,622  
Chesapeake Energy Corp. (a)
     138,700       2,916,861  
Chevron Corp.
    430,504       32,808,710  
ConocoPhillips (a)
     318,771       17,602,535  
CONSOL Energy, Inc.
    47,773       1,790,532  
Denbury Resources, Inc. *(a)
     88,300       1,398,672  
Devon Energy Corp.
    95,492       5,967,295  
El Paso Corp. (a)
     150,113       1,849,392  
EOG Resources, Inc. (a)
     54,071       5,271,923  
Exxon Mobil Corp.
    1,097,299       65,486,804  
Hess Corp.
    62,219       3,334,316  
Marathon Oil Corp.
    151,624       5,071,823  
Massey Energy Co.
    21,298       651,293  
Murphy Oil Corp.
    41,800       2,288,550  
Noble Energy, Inc. (a)
     37,100       2,487,926  
Occidental Petroleum Corp.
    173,969       13,557,404  
Peabody Energy Corp. (a)
     57,040       2,575,356  
Pioneer Natural Resources Co.
    25,600       1,482,752  
QEP Resources, Inc. *
     37,700       1,297,634  
Range Resources Corp.
    33,695       1,250,758  
Southwestern Energy Co. *
     73,689       2,685,964  
Spectra Energy Corp. (a)
     137,800       2,864,862  
Sunoco, Inc. (a)
     25,620       913,865  
Tesoro Corp.
    30,300       391,173  
Valero Energy Corp.
    120,884       2,053,819  
Williams Cos., Inc. (The)
    124,838       2,423,106  
 
              
 
             193,683,980  
 
              
Paper & Forest Products 0.2%
                
International Paper Co. (a)
     92,758       2,244,744  
MeadWestvaco Corp.
    35,547       851,706  
Weyerhaeuser Co. (a)
     46,201       749,380  
 
              
 
             3,845,830  
 
              
Personal Products 0.2%
                
Avon Products, Inc. (a)
     91,417       2,845,811  
Estee Lauder Cos., Inc. (The), Class A (a)
     25,269       1,572,995  
 
              
 
             4,418,806  
 
              
Pharmaceuticals 5.8%
                
Abbott Laboratories
    332,463       16,317,284  
Allergan, Inc.
    67,332       4,111,292  
Bristol-Myers Squibb Co.
    367,880       9,167,570  
Eli Lilly & Co. (a)
     216,918       7,722,281  
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

5

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide S&P 500 Index Fund
Common Stocks (continued)
                 
            Market  
    Shares     Value  
 
Pharmaceuticals (continued)
                
Forest Laboratories, Inc. *(a)
     64,632     $ 1,793,538  
Johnson & Johnson
    591,163       34,340,659  
King Pharmaceuticals, Inc. *(a)
     53,623       469,737  
Merck & Co., Inc.
    668,144       23,024,242  
Mylan, Inc. *(a)
     66,751       1,161,467  
Pfizer, Inc.
    1,728,254       25,923,810  
Watson Pharmaceuticals, Inc. *(a)
     22,706       919,593  
 
              
 
             124,951,473  
 
              
Professional Services 0.1%
                
Dun & Bradstreet Corp.
    11,700       799,812  
Equifax, Inc. (a)
     27,451       860,314  
Robert Half International, Inc. (a)
     33,806       851,235  
 
              
 
             2,511,361  
 
              
Real Estate Investment Trusts (REITs) 1.4%
                
Apartment Investment & Management Co., Class A (a)
     27,716       595,062  
AvalonBay Communities, Inc. (a)
     17,555       1,844,855  
Boston Properties, Inc. (a)
     29,700       2,432,430  
Equity Residential (a)
     60,137       2,757,281  
HCP, Inc. (a)
     62,800       2,227,516  
Health Care REIT, Inc. (a)
     26,047       1,180,189  
Host Hotels & Resorts, Inc.
    139,529       2,000,846  
Kimco Realty Corp. (a)
     85,312       1,285,652  
Plum Creek Timber Co., Inc. (a)
     36,261       1,301,045  
ProLogis (a)
     104,851       1,138,682  
Public Storage (a)
     28,872       2,832,921  
Simon Property Group, Inc.
    62,495       5,575,804  
Ventas, Inc. (a)
     33,137       1,680,709  
Vornado Realty Trust (a)
     33,615       2,782,650  
 
              
 
             29,635,642  
 
              
Real Estate Management & Development 0.0%†
                
CB Richard Ellis Group, Inc., Class A *(a)
     56,383       958,511  
 
              
Road & Rail 0.8%
                
CSX Corp. (a)
     84,112       4,434,385  
Norfolk Southern Corp.
    78,940       4,441,954  
Ryder System, Inc.
    12,505       546,093  
Union Pacific Corp.
    108,223       8,081,011  
 
              
 
             17,503,443  
 
              
Semiconductors & Semiconductor Equipment 2.5%
                
Advanced Micro Devices, Inc. *(a)
     128,242       960,532  
Altera Corp.
    63,730       1,766,596  
Analog Devices, Inc.
    63,086       1,874,285  
Applied Materials, Inc.
    286,366       3,379,119  
Broadcom Corp., Class A (a)
     92,196       3,321,822  
First Solar, Inc. *(a)
     10,400       1,304,680  
Intel Corp.
    1,192,267       24,560,700  
KLA-Tencor Corp.
    36,621       1,159,787  
Linear Technology Corp. (a)
     47,767       1,522,812  
LSI Corp. *(a)
     135,391       545,626  
MEMC Electronic Materials, Inc. *(a)
     49,100       469,396  
Microchip Technology, Inc. (a)
     39,300       1,196,685  
Micron Technology, Inc. *(a)
     181,868       1,323,999  
National Semiconductor Corp. (a)
     49,338       680,864  
Novellus Systems, Inc. *
     20,821       556,129  
NVIDIA Corp. *(a)
     120,578       1,108,112  
Teradyne, Inc. *(a)
     37,101       399,207  
Texas Instruments, Inc.
    262,161       6,472,755  
Xilinx, Inc. (a)
     59,322       1,656,270  
 
              
 
             54,259,376  
 
              
Software 3.9%
                
Adobe Systems, Inc. *(a)
     112,142       3,220,718  
Autodesk, Inc. *(a)
     49,662       1,467,015  
BMC Software, Inc. *
     40,656       1,446,541  
CA, Inc.
    84,938       1,661,387  
Citrix Systems, Inc. *
     39,171       2,155,188  
Compuware Corp. *(a)
     54,907       449,139  
Electronic Arts, Inc. *
     69,707       1,110,433  
Intuit, Inc. *(a)
     67,376       2,678,196  
McAfee, Inc. *
     33,800       1,118,780  
Microsoft Corp.
    1,634,458       42,185,361  
Novell, Inc. *
     71,496       431,836  
Oracle Corp.
    838,628       19,825,166  
Red Hat, Inc. *(a)
     42,800       1,376,020  
Salesforce.com, Inc. *(a)
     24,002       2,374,998  
Symantec Corp. *
     173,574       2,251,255  
 
              
 
             83,752,033  
 
              
Specialty Retail 1.9%
                
Abercrombie & Fitch Co., Class A (a)
     18,211       672,714  
AutoNation, Inc. *(a)
     23,080       563,844  
AutoZone, Inc. *
     6,410       1,356,164  
Bed Bath & Beyond, Inc. *
     56,302       2,132,720  
Best Buy Co., Inc. (a)
     73,542       2,548,966  
CarMax, Inc. *(a)
     47,835       1,009,319  
GameStop Corp., Class A *(a)
     32,400       649,620  
Gap, Inc. (The)
    99,040       1,793,614  
Home Depot, Inc.
    360,427       10,275,774  
Limited Brands, Inc. (a)
     57,328       1,469,890  
Lowe’s Cos., Inc.
    306,555       6,357,951  
Office Depot, Inc. *
     55,662       240,460  
O’Reilly Automotive, Inc. *(a)
     30,500       1,503,040  
RadioShack Corp.
    29,871       643,421  
Ross Stores, Inc. (a)
     25,841       1,360,787  
Staples, Inc.
    155,436       3,160,014  
Tiffany & Co. (a)
     26,686       1,122,680  
TJX Cos., Inc.
    88,568       3,677,343  
Urban Outfitters, Inc. *
     27,800       894,048  
 
              
 
             41,432,369  
 
              
Textiles, Apparel & Luxury Goods 0.5%
                
Coach, Inc.
    65,443       2,419,428  
NIKE, Inc., Class B
    83,472       6,146,878  
Polo Ralph Lauren Corp. (a)
     14,107       1,114,594  
VF Corp. (a)
     19,106       1,515,679  
 
              
 
             11,196,579  
 
              
Thrifts & Mortgage Finance 0.1%
                
Hudson City Bancorp, Inc. (a)
     101,656       1,262,568  
People’s United Financial, Inc.
    78,642       1,088,405  
 
              
 
             2,350,973  
 
              
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

6

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide S&P 500 Index Fund
Common Stocks (continued)
                 
            Market  
    Shares     Value  
 
Tobacco 1.6%
                
Altria Group, Inc.
    445,420     $ 9,870,507  
Lorillard, Inc.
    33,200       2,531,168  
Philip Morris International, Inc. (a)
     397,217       20,273,956  
Reynolds American, Inc.
    36,790       2,127,198  
 
              
 
             34,802,829  
 
              
Trading Companies & Distributors 0.1%
                
Fastenal Co. (a)
     28,300       1,388,964  
W.W. Grainger, Inc. (a)
     13,525       1,514,935  
 
              
 
             2,903,899  
 
              
Wireless Telecommunication Services 0.3%
                
American Tower Corp., Class A *
     86,000       3,976,640  
MetroPCS Communications, Inc. *(a)
     58,700       525,365  
Sprint Nextel Corp. *
     643,314       2,939,945  
 
              
 
             7,441,950  
 
              
 
                
Total Common Stocks
(cost $2,294,846,771)
             2,138,164,819  
 
              
Mutual Fund 1.3%
                 
            Market  
    Shares     Value  
 
Money Market Fund 1.3%
                
Invesco Liquid Assets Portfolio — Institutional Class, 0.26% (c)
     27,445,245       27,445,245  
 
              
Total Mutual Fund
(cost $27,445,245)
             27,445,245  
 
              
Repurchase Agreements 17.0%
                 
    Principal     Market  
    Amount     Value  
 
Barclays Capital, 0.21%, dated 07/30/2010, due 08/02/2010, repurchase price $25,000,438, collateralized by U.S. Treasury Securities ranging from 1.00% to 3.25%, maturing 07/31/11-03/31/17; total market value $25,500,001. (d)
   $ 25,000,000     $ 25,000,000  
Goldman Sachs & Co., 0.21%, dated 07/30/2010, due 08/02/2010, repurchase price $135,073,875, collateralized by U.S. Government Agency Mortgages from 0.00% to 14.00%, maturing 09/15/10-07/20/60; total market value $137,772,941. (d)
     135,071,511       135,071,511  
Morgan Stanley, 0.21%, dated 07/30/2010, due 08/02/2010, repurchase price $209,361,911, collateralized by U.S. Government Agency Mortgages ranging from 3.50% to 6.00%, maturing 05/01/22-06/01/40; total market value $213,545,411. (d)
     209,358,247       209,358,247  
 
              
 
                
Total Repurchase Agreements
(cost $369,429,758)
             369,429,758  
 
              
 
                
Total Investments
(cost $2,691,721,774) (e) — 116.9%
             2,535,039,822  
 
                
Liabilities in excess of other assets — (16.9%)
             (365,733,290 )
 
              
 
                
NET ASSETS — 100.0%
           $ 2,169,306,532  
 
              
 
*   Denotes a non-income producing security.
 
(a)   The security or a portion of this security is on loan at July 31, 2010. The total value of securities on loan at July 31, 2010 was $360,529,714.
 
(b)   A security or a portion of a security was used to cover the margin requirement for futures contracts.
 
(c)   Represents 7-day effective yield as of July 31, 2010.
 
(d)   The security was purchased with cash collateral held from securities on loan. The total value of this security as of July 31, 2010 was $369,429,758.
 
(e)   At July 31, 2010, the tax basis cost of the Fund’s investments was $2,732,573,253, tax unrealized appreciation and depreciation were $233,947,315 and $(431,480,746), respectively.
 
†   Amount rounds to less than 0.1%.
 
Ltd.   Limited
 
PLC   Public Limited Company
 
REIT   Real Estate Investment Trust
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

7

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide S&P 500 Index Fund
At July 31, 2010, the Fund’s open futures contracts were as follows:
                                 
Number of
Contracts		   Long Contracts   Expiration   Notional Value
Covered by
Contracts		   Unrealized
Appreciation
 
  572    
E-mini S&P 500 Index
     09/17/10     $ 31,411,380     $ 719,521  
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

8

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide S&P 500 Index Fund
In accordance with the authorative guidance on fair value measurements and disclosures under GAAP, the Fund discloses the fair value of its investments in a hierarchy that prioritizes the inputs to valuation techniques used to measure the fair value. This standard defines fair value, sets out a framework for measuring fair value and expands disclosures about fair value measurements. The hierarchy gives the highest priority to readily available unadjusted quoted prices in active markets for identical assets (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements) when market prices are not readily available or reliable. The three levels of the hierarchy established are summarized below:
Level 1:   Quoted prices in active markets for identical assets.
Level 2:   Other significant observable inputs (including quoted prices of similar securities, interest rates, prepayment speeds, credit risk, etc).
Level 3:   Significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments).
Changes in valuation techniques may result in transfers in or out of an investment’s assigned level within the hierarchy.
The inputs or methodology used to value securities and other investments are not intended to indicate the risk associated with investing in those securities and investments.
The following is a summary of the inputs used to value the Fund’s net assets as of July 31, 2010:
                                 
Asset Type*   Level 1   Level 2   Level 3   Total
 
Assets:
                                
Common Stocks
   $ 2,138,164,819     $ —     $ —     $ 2,138,164,819  
Futures Contracts
     719,521       —       —       719,521  
Mutual Fund
     27,445,245       —       —       27,445,245  
Repurchase Agreements
     —       369,429,758       —       369,429,758  
 
Total
   $ 2,166,329,585     $ 369,429,758     $ —     $ 2,535,759,343  
 
 
Amounts designated as “—” are zero or have been rounded to zero.
 
*   See Statement of Investments for identification of securities by type and industry classification.
 
For the period ended July 31, 2010 there were no significant transfers between Levels 1 and 2.
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

9

 

The Fund is subject to the guidance on disclosures about derivative instruments and hedging activities. The guidance requires enhanced disclosure about an entity’s derivative and hedging activities.
The following is a summary of the Fund’s derivative instruments categorized by risk exposure as of July 31, 2010. Please see below for information on the Fund’s policy regarding the objectives and strategies for using futures contracts.
Futures Contracts
The Fund is subject to equity price risk in the normal course of pursuing its investment objective. The Fund may enter into financial futures contracts (“futures contracts”) to gain exposure to, or hedge against changes in, the value of equities. The Fund may also enter into futures contracts for non-hedging purposes; however, in those instances, the aggregate initial margin and premiums required to enter into and maintain futures contracts may not exceed 5% of the Fund’s NAV after taking into account unrealized gains and unrealized losses on such futures contracts.
Should market conditions change unexpectedly, the Fund may not achieve the anticipated benefits of futures contracts and may realize a loss. The use of futures contracts for hedging purposes involves the risk of imperfect correlation in the movements in the price of the futures contracts and the underlying assets. Futures contracts involve minimal counterparty credit risk to the Fund because futures contracts are exchange-traded, and the exchange’s clearinghouse, as counterparty to all exchange-traded futures contracts, guarantees futures contracts against default.
Fair Values of Derivative Instruments as of July 31, 2010
     Derivatives not accounted for as hedging instruments
                 
            Fair Value  
 
Assets:
                
Futures — Equity contracts
   Net Assets — Unrealized appreciation from futures contracts   $ 719,521  
 
              
Total
           $ 719,521  
 
              
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

10

 

Statement of Investments
July 31, 2010 (Unaudited)
Nationwide Small Cap Index Fund
Common Stocks 97.0%
                 
            Market  
    Shares     Value  
 
Aerospace & Defense 1.9%
                
AAR Corp.*
     17,167     $ 288,406  
Aerovironment, Inc.*
     7,318       174,973  
American Science & Engineering, Inc.
    3,963       313,790  
Applied Energetics, Inc.*(a)
     34,846       44,603  
Applied Signal Technology, Inc.
     6,044       125,474  
Argon ST, Inc.*
     5,994       206,613  
Astronics Corp.*(a)
     4,227       67,632  
Ceradyne, Inc.*
     11,198       260,354  
Cubic Corp.
     6,864       278,129  
Curtiss-Wright Corp.
     20,016       606,285  
DigitalGlobe, Inc.*
     12,057       328,674  
Ducommun, Inc.(a)
     4,695       98,079  
Esterline Technologies Corp.*(a)
     13,058       670,267  
GenCorp, Inc.*(a)
     26,142       137,507  
GeoEye, Inc.*
     9,748       336,501  
HEICO Corp.(a)
     12,914       510,490  
Herley Industries, Inc.*
     6,145       95,125  
Hexcel Corp.*
     42,583       795,876  
Kratos Defense & Security Solutions, Inc.*(a)
     7,493       82,873  
Ladish Co., Inc.*
     7,015       206,311  
LMI Aerospace, Inc.*
     3,914       67,399  
Moog, Inc., Class A*
     19,914       713,120  
Orbital Sciences Corp.*
     25,225       369,294  
Stanley, Inc.*
     6,039       225,557  
Taser International, Inc.*(a)
     28,473       116,739  
Teledyne Technologies, Inc.*(a)
     15,812       648,766  
Triumph Group, Inc.
     7,289       553,235  
 
              
 
             8,322,072  
 
              
Air Freight & Logistics 0.4%
                
Air Transport Services Group, Inc.*
     23,970       127,281  
Atlas Air Worldwide Holdings, Inc. *
     11,406       667,023  
Dynamex, Inc.*
     4,799       64,594  
Forward Air Corp.
     12,829       372,554  
HUB Group, Inc., Class A*(a)
     16,475       529,671  
Pacer International, Inc.*
     15,743       129,722  
Park-Ohio Holdings Corp.*(a)
     3,612       48,943  
 
              
 
             1,939,788  
 
              
Airlines 0.8%
                
AirTran Holdings, Inc.*(a)
     59,396       286,289  
Alaska Air Group, Inc.*
     15,528       801,089  
Allegiant Travel Co.(a)
     6,659       295,593  
Hawaiian Holdings, Inc.*(a)
     23,198       139,188  
JetBlue Airways Corp.*(a)
     106,181       682,744  
Pinnacle Airlines Corp.*(a)
     8,696       48,263  
Republic Airways Holdings, Inc.*
     15,300       95,625  
SkyWest, Inc.
     24,849       309,370  
US Airways Group, Inc.*
     70,532       765,272  
 
              
 
             3,423,433  
 
              
Auto Components 0.8%
                
American Axle & Manufacturing Holdings, Inc. *(a)
     25,727       239,518  
Amerigon, Inc.*(a)
     9,811       97,129  
Cooper Tire & Rubber Co.
     26,884       580,963  
Dana Holding Corp.*
     61,097       725,832  
Dorman Products, Inc.*(a)
     5,096       118,941  
Drew Industries, Inc.*
     8,428       178,084  
Exide Technologies*
     33,932       204,271  
Fuel Systems Solutions, Inc.*(a)
     6,268       190,610  
Hawk Corp., Class A*
     2,402       70,210  
Modine Manufacturing Co.*
     20,671       209,811  
Spartan Motors, Inc.
     15,247       65,410  
Standard Motor Products, Inc.
     9,090       89,082  
Stoneridge, Inc.*
     7,184       76,941  
Superior Industries International, Inc.
    10,329       148,634  
Tenneco, Inc.*(a)
     26,296       725,769  
 
              
 
             3,721,205  
 
              
Automobiles 0.0%†
                
Winnebago Industries, Inc.*(a)
     12,942       135,244  
 
              
Beverages 0.1%
                
Boston Beer Co., Inc., Class A*
     3,659       253,788  
Coca-Cola Bottling Co. Consolidated
    2,000       103,200  
Heckmann Corp.*
     39,823       180,398  
MGP Ingredients, Inc.*
     5,770       43,737  
National Beverage Corp.
     4,985       70,887  
 
              
 
             652,010  
 
              
Biotechnology 3.2%
                
Acorda Therapeutics, Inc.*(a)
     17,050       551,397  
Affymax, Inc.*
     9,806       63,053  
Alkermes, Inc.*
     41,653       537,324  
Allos Therapeutics, Inc.*
     34,949       168,454  
Alnylam Pharmaceuticals, Inc.*
     16,119       247,427  
AMAG Pharmaceuticals, Inc.*
     9,245       291,033  
Arena Pharmaceuticals, Inc.*(a)
     48,493       385,519  
ARIAD Pharmaceuticals, Inc.*
     48,770       156,064  
Arqule, Inc.*(a)
     19,411       82,885  
Array BioPharma, Inc.*
     23,544       74,634  
AVI BioPharma, Inc.*(a)
     51,449       100,326  
BioCryst Pharmaceuticals, Inc.*(a)
     12,800       76,416  
Biosante Pharmaceuticals, Inc.*(a)
     32,032       51,572  
Biotime, Inc.*(a)
     9,550       53,958  
Celera Corp.*
     36,346       243,155  
Celldex Therapeutics, Inc.*(a)
     14,740       75,616  
Cepheid, Inc.*(a)
     26,239       434,255  
Chelsea Therapeutics International Ltd. *
     14,210       40,499  
Clinical Data, Inc.*(a)
     4,834       67,386  
Combinatorx, Inc.*
     30,512       47,294  
Cubist Pharmaceuticals, Inc.*
     25,479       549,837  
Curis, Inc.*(a)
     36,365       62,548  
Cytokinetics, Inc.*(a)
     23,081       63,473  
Cytori Therapeutics, Inc.*(a)
     18,238       87,178  
CytRx Corp.*(a)
     53,589       49,302  
Dyax Corp.*
     44,982       107,957  
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

1

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide Small Cap Index Fund
Common Stocks (continued)
                 
            Market  
    Shares     Value  
 
Biotechnology (continued)
                
Dynavax Technologies Corp.*(a)
     32,021     $ 70,766  
Emergent Biosolutions, Inc.*
     8,369       155,412  
Enzon Pharmaceuticals, Inc.*
     21,977       240,428  
Exact Sciences Corp.*(a)
     15,908       66,336  
Exelixis, Inc.*(a)
     48,434       151,114  
Genomic Health, Inc.*(a)
     6,503       83,824  
Geron Corp.*(a)
     43,481       244,798  
Halozyme Therapeutics, Inc.*
     31,928       228,924  
Idenix Pharmaceuticals, Inc.*
     16,653       85,097  
ImmunoGen, Inc.*(a)
     30,000       282,900  
Immunomedics, Inc.*(a)
     29,337       94,759  
Incyte Corp Ltd.*(a)
     38,841       505,710  
Infinity Pharmaceuticals, Inc.*(a)
     7,200       42,192  
Inhibitex, Inc.*(a)
     22,309       42,164  
Inovio Pharmaceuticals, Inc.*
     37,628       38,004  
InterMune, Inc.*(a)
     20,167       196,830  
Ironwood Pharmaceuticals, Inc.*
     8,803       103,875  
Isis Pharmaceuticals, Inc.*(a)
     41,493       410,366  
Keryx Biopharmaceuticals, Inc.*(a)
     23,311       87,649  
Lexicon Pharmaceuticals, Inc.*(a)
     89,118       134,568  
Ligand Pharmaceuticals, Inc., Class B *
     52,566       86,734  
MannKind Corp.*(a)
     27,676       191,241  
Martek Biosciences Corp.*(a)
     14,570       301,453  
Maxygen, Inc.*(a)
     14,209       88,238  
Medivation, Inc.*(a)
     15,173       144,295  
Metabolix, Inc.*(a)
     12,027       169,821  
Micromet, Inc.*(a)
     35,921       246,059  
Momenta Pharmaceuticals, Inc.*(a)
     17,857       381,068  
Nabi Biopharmaceuticals*
     20,251       115,836  
Neuralstem, Inc.*(a)
     19,251       47,165  
Neurocrine Biosciences, Inc.*(a)
     22,249       126,374  
NeurogesX, Inc.*(a)
     5,400       38,340  
Novavax, Inc.*(a)
     39,015       87,003  
NPS Pharmaceuticals, Inc.*
     26,486       183,283  
Omeros Corp.*(a)
     8,555       62,024  
Onyx Pharmaceuticals, Inc.*
     27,490       714,740  
Opko Health, Inc.*(a)
     41,039       102,187  
Orexigen Therapeutics, Inc.*(a)
     14,138       73,518  
Osiris Therapeutics, Inc.*(a)
     7,875       62,606  
PDL BioPharma, Inc.(a)
     52,482       326,438  
Peregrine Pharmaceuticals, Inc.*(a)
     25,663       41,574  
Pharmacyclics, Inc.*(a)
     17,388       121,194  
Pharmasset, Inc.*
     13,110       354,101  
Progenics Pharmaceuticals, Inc.*(a)
     12,670       58,282  
Rigel Pharmaceuticals, Inc.*
     23,523       190,536  
Sangamo BioSciences, Inc.*(a)
     21,343       80,463  
Savient Pharmaceuticals, Inc.*
     29,784       408,041  
SciClone Pharmaceuticals, Inc.*(a)
     17,163       59,212  
Seattle Genetics, Inc.*
     36,826       448,541  
SIGA Technologies, Inc.*(a)
     14,443       121,032  
Spectrum Pharmaceuticals, Inc.*(a)
     21,900       91,323  
StemCells, Inc.*(a)
     58,341       53,090  
Targacept, Inc.*(a)
     10,601       229,300  
Theravance, Inc.*(a)
     27,667       409,748  
Vanda Pharmaceuticals, Inc.*
     12,862       93,378  
Vical, Inc.*
     26,509       87,745  
ZIOPHARM Oncology, Inc.*(a)
     21,706       81,180  
Zymogenetics, Inc.*(a)
     24,291       99,350  
 
              
 
             14,510,791  
 
              
Building Products 0.7%
                
A.O. Smith Corp.
     10,568       577,858  
AAON, Inc.(a)
     5,435       135,114  
American Woodmark Corp.(a)
     4,197       69,376  
Ameron International Corp.
     4,053       249,016  
Apogee Enterprises, Inc.(a)
     12,460       140,300  
Builders FirstSource, Inc.*(a)
     22,795       48,781  
Gibraltar Industries, Inc.*
     13,832       149,247  
Griffon Corp.*
     19,893       269,749  
Insteel Industries, Inc.(a)
     7,909       73,475  
NCI Building Systems, Inc.*(a)
     8,548       80,950  
Quanex Building Products Corp.
     16,759       294,791  
Simpson Manufacturing Co., Inc.(a)
     17,260       445,135  
Trex Co., Inc.*(a)
     7,031       152,573  
Universal Forest Products, Inc.
     8,584       265,847  
 
              
 
             2,952,212  
 
              
Capital Markets 2.1%
                
American Capital Ltd.*
     149,565       776,242  
Apollo Investment Corp.
     85,699       865,560  
Artio Global Investors, Inc.
     12,388       199,075  
BGC Partners, Inc., Class A
     25,803       139,852  
BlackRock Kelso Capital Corp.(a)
     27,760       296,199  
Calamos Asset Management, Inc., Class A (a)
     8,932       92,893  
Capital Southwest Corp.(a)
     1,313       116,621  
Cohen & Steers, Inc.(a)
     7,610       169,703  
Cowen Group, Inc., Class A*(a)
     17,047       70,916  
Diamond Hill Investment Group, Inc. (a)
     1,083       62,933  
Duff & Phelps Corp., Class A(a)
     12,353       133,907  
Epoch Holding Corp.(a)
     5,919       73,692  
Evercore Partners, Inc., Class A(a)
     6,909       162,223  
FBR Capital Markets Corp.*(a)
     24,119       79,593  
Fifth Street Finance Corp.(a)
     22,189       240,973  
Financial Engines, Inc.*(a)
     5,709       83,637  
GAMCO Investors, Inc., Class A(a)
     3,114       125,307  
GFI Group, Inc.
     29,416       173,260  
Gladstone Capital Corp.(a)
     9,466       114,823  
Gladstone Investment Corp.(a)
     10,383       68,528  
Gleacher & Co., Inc.*(a)
     35,145       70,290  
Golub Capital BDC, Inc.*
     3,509       49,231  
Harris & Harris Group, Inc.*(a)
     14,931       60,769  
Hercules Technology Growth Capital, Inc.
    16,177       169,211  
HFF, Inc., Class A*
     8,634       75,634  
International Assets Holding Corp.*
     5,711       96,744  
Investment Technology Group, Inc.*
     18,941       297,563  
JMP Group, Inc.(a)
     6,960       49,068  
Kayne Anderson Energy Development Co. (a)
     4,747       71,632  
KBW, Inc.*(a)
     15,606       356,597  
Knight Capital Group, Inc., Class A *
     41,090       590,874  
LaBranche & Co., Inc.*(a)
     16,507       62,562  
Ladenburg Thalmann Financial Services, Inc.*(a)
     44,420       56,413  
Main Street Capital Corp.(a)
     5,515       90,611  
MCG Capital Corp.(a)
     34,465       199,552  
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

2

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide Small Cap Index Fund
Common Stocks (continued)
                 
            Market  
    Shares     Value  
 
Capital Markets (continued)
                
MF Global Holdings Ltd.*(a)
     44,586     $ 286,688  
MVC Capital, Inc.
     10,911       139,879  
NGP Capital Resources Co.
     9,787       74,381  
Oppenheimer Holdings, Inc., Class A (a)
     4,538       129,923  
optionsXpress Holdings, Inc.*(a)
     18,270       285,012  
PennantPark Investment Corp.(a)
     14,347       150,787  
Penson Worldwide, Inc.*(a)
     9,967       53,622  
Piper Jaffray Cos.*(a)
     7,555       235,640  
Prospect Capital Corp.(a)
     30,058       291,863  
Safeguard Scientifics, Inc.*
     9,413       119,263  
Sanders Morris Harris Group, Inc. (a)
     10,145       55,797  
Solar Capital Ltd.
     2,593       53,468  
Stifel Financial Corp.*
     14,852       688,242  
SWS Group, Inc.
     12,641       110,230  
THL Credit, Inc.*(a)
     4,266       52,472  
TICC Capital Corp.(a)
     12,232       107,275  
TradeStation Group, Inc.*
     18,225       116,458  
Triangle Capital Corp.(a)
     5,547       84,148  
Virtus Investment Partners, Inc.*
     2,413       62,255  
Westwood Holdings Group, Inc.(a)
     2,511       90,974  
 
              
 
             9,531,065  
 
              
Chemicals 2.3%
                
A. Schulman, Inc.
     13,922       272,732  
American Vanguard Corp.
     9,640       82,422  
Arch Chemicals, Inc.
     9,943       340,747  
Balchem Corp.(a)
     12,469       329,805  
Calgon Carbon Corp.*(a)
     24,637       326,194  
Ferro Corp.*(a)
     37,421       399,282  
Georgia Gulf Corp.*
     15,030       230,710  
H.B. Fuller Co.
     21,438       438,193  
Hawkins, Inc.(a)
     3,900       126,594  
Innophos Holdings, Inc.
     9,543       279,705  
KMG Chemicals, Inc.(a)
     3,091       46,890  
Koppers Holdings, Inc.
     9,178       227,982  
Kraton Performance Polymers, Inc. *
     5,156       120,960  
Landec Corp.*
     12,446       80,277  
LSB Industries, Inc.*(a)
     7,876       114,123  
Minerals Technologies, Inc.
     8,203       427,950  
NewMarket Corp.
     4,519       484,392  
Olin Corp.
     33,657       683,237  
OM Group, Inc.*
     13,580       366,660  
Omnova Solutions, Inc.*(a)
     20,167       157,303  
PolyOne Corp.*
     40,197       414,431  
Quaker Chemical Corp.
     4,757       167,732  
Rockwood Holdings, Inc.*(a)
     22,584       659,679  
Senomyx, Inc.*(a)
     17,138       76,435  
Sensient Technologies Corp.
     21,629       637,190  
Solutia, Inc.*(a)
     52,805       745,079  
Spartech Corp.*
     13,928       145,687  
Stepan Co.(a)
     3,448       227,602  
STR Holdings, Inc.*
     12,532       280,717  
TPC Group, Inc.*(a)
     3,589       58,680  
W.R. Grace & Co.*
     31,605       811,300  
Westlake Chemical Corp.
     8,663       214,323  
Zep, Inc.
     9,773       186,078  
Zoltek Cos., Inc.*(a)
     12,684       132,548  
 
              
 
             10,293,639  
 
              
Commercial Banks 6.0%
                
1st Source Corp.
     6,978       128,325  
1st United Bancorp, Inc.*(a)
     10,492       78,060  
Alliance Financial Corp.(a)
     2,330       69,527  
American National Bankshares, Inc. (a)
     3,027       66,897  
Ameris Bancorp*
     10,533       103,645  
Ames National Corp.(a)
     3,929       76,026  
Arrow Financial Corp.(a)
     4,263       107,513  
Bancfirst Corp.(a)
     2,995       123,334  
Banco Latinoamericano de Comercio Exterior SA, Class E
     12,312       152,299  
Bancorp Rhode Island, Inc.
     1,906       55,636  
Bancorp, Inc. (The)*(a)
     10,781       81,397  
Bank of Marin Bancorp
     2,500       88,125  
Bank of the Ozarks, Inc.(a)
     5,779       216,424  
Boston Private Financial Holdings, Inc.(a)
     31,149       205,895  
Bridge Bancorp, Inc.(a)
     3,000       78,360  
Bryn Mawr Bank Corp.(a)
     4,584       85,262  
Camden National Corp.(a)
     3,446       107,687  
Capital City Bank Group, Inc.(a)
     5,423       75,000  
Cardinal Financial Corp.
     13,318       136,110  
Cathay General Bancorp
     34,730       408,425  
Center Financial Corp.*(a)
     16,595       85,796  
Centerstate Banks, Inc.
     10,312       90,952  
Chemical Financial Corp.(a)
     10,742       241,158  
Citizens & Northern Corp.(a)
     5,972       69,036  
Citizens Republic Bancorp, Inc.*
     178,047       160,990  
City Holding Co.(a)
     6,790       199,965  
CNB Financial Corp.
     4,447       53,675  
CoBiz Financial, Inc.
     15,401       97,180  
Columbia Banking System, Inc.
     17,349       317,140  
Community Bank System, Inc.(a)
     14,521       359,395  
Community Trust Bancorp, Inc.
     6,063       166,611  
CVB Financial Corp.(a)
     39,429       401,387  
Danvers Bancorp, Inc.(a)
     8,348       136,907  
Eagle Bancorp, Inc.*(a)
     7,309       84,492  
Enterprise Financial Services Corp. (a)
     6,918       70,840  
Financial Institutions, Inc.(a)
     4,992       94,698  
First Bancorp, Inc.(a)
     4,239       59,346  
First Bancorp, North Carolina(a)
     6,945       115,912  
First Busey Corp.(a)
     24,425       112,111  
First Commonwealth Financial Corp. (a)
     38,289       202,932  
First Community Bancshares, Inc.
     7,321       107,692  
First Financial Bancorp
     25,558       406,372  
First Financial Bankshares, Inc.
     8,934       437,945  
First Financial Corp.(a)
     4,971       141,027  
First Interstate BancSystem, Inc.(a)
     5,836       77,619  
First Merchants Corp.(a)
     11,523       100,020  
First Midwest Bancorp, Inc.
     32,651       410,750  
First of Long Island Corp. (The)(a)
     2,765       71,282  
First South Bancorp, Inc.(a)
     4,088       48,402  
FirstMerit Corp.
     46,937       925,128  
FNB Corp.(a)
     50,073       429,126  
German American Bancorp, Inc.(a)
     5,346       89,545  
Glacier Bancorp, Inc.(a)
     31,557       504,281  
Great Southern Bancorp, Inc.(a)
     4,543       99,628  
Green Bankshares, Inc.*(a)
     5,355       53,711  
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

3

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide Small Cap Index Fund
Common Stocks (continued)
                 
            Market  
    Shares     Value  
 
Commercial Banks (continued)
                
Hancock Holding Co.(a)
     12,664     $ 386,379  
Hanmi Financial Corp.*
     43,914       61,919  
Heartland Financial USA, Inc.(a)
     5,874       103,735  
Heritage Financial Corp.*(a)
     4,419       65,622  
Home Bancorp, Inc.*
     4,073       53,601  
Home Bancshares, Inc.(a)
     9,767       234,701  
Hudson Valley Holding Corp.(a)
     5,330       103,189  
IBERIABANK Corp.(a)
     11,635       604,555  
Independent Bank Corp.(a)
     9,411       224,076  
International Bancshares Corp.
     22,690       393,445  
Investors Bancorp, Inc.*
     21,075       276,715  
Lakeland Bancorp, Inc.(a)
     9,822       88,103  
Lakeland Financial Corp.
     7,100       145,763  
MainSource Financial Group, Inc. (a)
     9,409       70,944  
MB Financial, Inc.
     23,411       405,947  
Merchants Bancshares, Inc.(a)
     2,422       57,765  
Metro Bancorp, Inc.*
     6,443       81,891  
MidSouth Bancorp, Inc.(a)
     3,666       47,805  
MidWestOne Financial Group, Inc. (a)
     3,354       50,276  
Nara Bancorp, Inc.*
     17,310       124,113  
National Bankshares, Inc.(a)
     3,218       83,282  
National Penn Bancshares, Inc.
     55,898       372,281  
NBT Bancorp, Inc.(a)
     15,134       334,159  
Northfield Bancorp, Inc.(a)
     8,017       103,339  
Old National Bancorp
     38,147       401,306  
OmniAmerican Bancorp, Inc.*(a)
     5,734       65,712  
Oriental Financial Group, Inc.
     14,635       207,232  
Orrstown Financial Services, Inc.
     3,053       69,914  
Pacific Continental Corp.(a)
     8,931       81,629  
PacWest Bancorp(a)
     13,714       287,034  
Park National Corp.(a)
     5,396       361,964  
Peapack Gladstone Financial Corp. (a)
     3,880       49,082  
Penns Woods Bancorp, Inc.(a)
     2,041       63,781  
Peoples Bancorp, Inc.(a)
     4,873       84,059  
Pinnacle Financial Partners, Inc. *(a)
     15,002       151,370  
PrivateBancorp, Inc.
     23,049       285,116  
Prosperity Bancshares, Inc.
     20,236       685,596  
Renasant Corp.(a)
     9,462       144,295  
Republic Bancorp, Inc., Class A(a)
     4,481       111,039  
S&T Bancorp, Inc.(a)
     10,976       222,813  
Sandy Spring Bancorp, Inc.(a)
     10,900       184,646  
SCBT Financial Corp.(a)
     5,705       183,872  
Sierra Bancorp(a)
     4,375       51,844  
Signature Bank*
     17,836       685,616  
Simmons First National Corp., Class A (a)
     7,591       200,023  
Southside Bancshares, Inc.(a)
     7,438       141,024  
Southwest Bancorp, Inc.(a)
     8,837       128,578  
State Bancorp, Inc.(a)
     7,733       74,082  
StellarOne Corp.
     10,541       143,041  
Sterling Bancorp
     12,196       119,033  
Sterling Bancshares, Inc.
     40,841       211,965  
Suffolk Bancorp(a)
     4,283       116,112  
Susquehanna Bancshares, Inc.(a)
     57,269       495,377  
SVB Financial Group*(a)
     18,224       787,095  
SY Bancorp, Inc.(a)
     5,227       130,309  
Taylor Capital Group, Inc.*(a)
     4,372       43,458  
Texas Capital Bancshares, Inc.*(a)
     16,116       268,976  
Tompkins Financial Corp.
     3,497       146,000  
Tower Bancorp, Inc.(a)
     2,681       57,159  
TowneBank(a)
     10,582       162,963  
Trico Bancshares(a)
     6,221       117,390  
Trustmark Corp.
     27,658       608,476  
UMB Financial Corp.(a)
     13,695       515,206  
Umpqua Holdings Corp.
     50,398       631,487  
Union First Market Bankshares Corp.
    8,090       114,878  
United Bankshares, Inc.(a)
     17,031       434,801  
United Community Banks, Inc.*
     42,420       131,502  
Univest Corp of Pennsylvania(a)
     7,616       131,985  
Virginia Commerce Bancorp, Inc. *(a)
     9,162       58,728  
Washington Banking Co.
     7,000       100,870  
Washington Trust Bancorp, Inc.(a)
     6,387       123,652  
Webster Financial Corp.
     28,160       524,902  
WesBanco, Inc.(a)
     10,378       180,058  
West Bancorp, Inc.*(a)
     8,032       53,734  
West Coast Bancorp*(a)
     41,258       105,208  
Westamerica Bancorp(a)
     12,573       675,924  
Western Alliance Bancorp*(a)
     26,135       190,001  
Whitney Holding Corp.(a)
     42,531       345,352  
Wilshire Bancorp, Inc.(a)
     8,796       66,234  
Wintrust Financial Corp.(a)
     13,676       425,597  
 
              
 
             27,079,703  
 
              
Commercial Services & Supplies 2.5%
                
ABM Industries, Inc.(a)
     22,817       495,129  
ACCO Brands Corp.*(a)
     24,665       146,017  
American Reprographics Co.*
     16,658       148,256  
APAC Customer Services, Inc.*
     14,306       77,538  
ATC Technology Corp.*
     8,946       214,525  
Bowne & Co., Inc.
     17,908       202,539  
Brink’s Co. (The)
     20,972       459,287  
Casella Waste Systems, Inc., Class A *(a)
     12,826       51,176  
Cenveo, Inc.*
     25,012       154,074  
Clean Harbors, Inc.*
     10,007       632,042  
Consolidated Graphics, Inc.*
     4,214       181,076  
Cornell Cos., Inc.*
     5,137       143,476  
Courier Corp.
     5,070       80,765  
Deluxe Corp.
     22,709       467,351  
EnergySolutions, Inc.
     39,160       196,975  
EnerNOC, Inc.*(a)
     8,731       291,091  
Ennis, Inc.(a)
     11,820       199,994  
Fuel Tech, Inc.*(a)
     8,287       53,948  
G&K Services, Inc., Class A
     8,458       196,818  
Geo Group, Inc. (The)*
     21,584       465,783  
Healthcare Services Group, Inc.(a)
     19,301       431,184  
Herman Miller, Inc.(a)
     25,165       432,838  
HNI Corp.
     19,873       513,518  
Innerworkings, Inc.*
     10,833       74,964  
Interface, Inc., Class A(a)
     22,500       279,675  
Kimball International, Inc., Class B (a)
     14,696       91,703  
Knoll, Inc.
     20,935       293,718  
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

4

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide Small Cap Index Fund
Common Stocks (continued)
                 
            Market  
    Shares     Value  
 
Commercial Services & Supplies (continued)
                
M&F Worldwide Corp.*
     4,860     $ 136,955  
McGrath Rentcorp(a)
     10,627       247,822  
Metalico, Inc.*(a)
     17,000       71,230  
Mine Safety Appliances Co.
     11,470       287,323  
Mobile Mini, Inc.*(a)
     16,140       276,640  
Multi-Color Corp.(a)
     5,177       67,612  
Rollins, Inc.
     18,611       406,464  
Schawk, Inc.
     5,096       75,574  
Standard Parking Corp.*
     7,004       119,488  
Steelcase, Inc., Class A(a)
     34,070       235,424  
SYKES Enterprises, Inc.*
     18,287       289,849  
Team, Inc.*
     8,774       124,591  
Tetra Tech, Inc.*
     27,014       566,484  
UniFirst Corp.
     6,184       271,849  
United Stationers, Inc.*
     10,638       576,048  
US Ecology, Inc.
     8,180       120,982  
Viad Corp.
     9,294       184,951  
 
              
 
             11,034,746  
 
              
Communications Equipment 2.8%
                
Acme Packet, Inc.*
     19,326       546,153  
ADC Telecommunications, Inc.*(a)
     42,865       545,671  
ADTRAN, Inc.
     27,242       860,302  
Anaren, Inc.*
     6,554       103,684  
Arris Group, Inc.*(a)
     55,805       520,103  
Aruba Networks, Inc.*(a)
     32,296       548,386  
Aviat Networks, Inc.*
     26,962       108,926  
Bel Fuse, Inc., Class B(a)
     4,696       110,732  
BigBand Networks, Inc.*
     23,706       73,963  
Black Box Corp.
     7,842       238,710  
Blue Coat Systems, Inc.*(a)
     18,298       400,726  
Comtech Telecommunications Corp. *
     12,550       270,703  
DG FastChannel, Inc.*(a)
     11,076       422,328  
Digi International, Inc.*
     11,676       97,028  
EMS Technologies, Inc.*
     6,878       114,450  
Emulex Corp.*
     35,424       308,189  
Extreme Networks*(a)
     38,962       111,431  
Finisar Corp.*(a)
     33,287       533,591  
Globecomm Systems, Inc.*
     9,872       81,247  
Harmonic, Inc.*
     43,081       300,275  
Hughes Communications, Inc.*
     4,361       109,374  
Infinera Corp.*(a)
     38,944       352,443  
InterDigital, Inc.*(a)
     19,300       526,697  
Ixia*(a)
     14,896       163,558  
KVH Industries, Inc.*
     6,645       92,897  
Loral Space & Communications, Inc. *(a)
     4,911       234,942  
Netgear, Inc.*(a)
     15,535       372,840  
Network Engines, Inc.*(a)
     16,563       32,298  
Network Equipment Technologies, Inc. *(a)
     14,049       43,833  
Oclaro, Inc.*(a)
     21,979       271,001  
Oplink Communications, Inc.*
     9,640       155,300  
PC-Tel, Inc.*(a)
     9,300       58,869  
Plantronics, Inc.
     21,180       634,765  
Powerwave Technologies, Inc.*
     61,021       111,058  
Riverbed Technology, Inc.*(a)
     27,750       1,029,248  
Seachange International, Inc.*
     12,508       112,072  
ShoreTel, Inc.*(a)
     20,928       104,640  
Sonus Networks, Inc.*
     90,650       261,072  
Sycamore Networks, Inc.(a)
     8,691       202,326  
Symmetricom, Inc.*
     20,357       108,503  
Tekelec*
     30,079       425,317  
UTStarcom, Inc.*
     53,715       114,413  
ViaSat, Inc.*(a)
     14,608       527,933  
 
              
 
             12,341,997  
 
              
Computers & Peripherals 0.9%
                
3PAR, Inc.*(a)
     17,328       175,013  
ADPT Corp.*
     35,190       107,330  
Avid Technology, Inc.*(a)
     13,197       170,637  
Compellent Technologies, Inc.*(a)
     10,446       140,081  
Cray, Inc.*(a)
     15,779       105,088  
Electronics for Imaging, Inc.*(a)
     20,328       216,493  
Hutchinson Technology, Inc.*(a)
     10,863       41,279  
Hypercom Corp.*(a)
     20,354       88,133  
Imation Corp.*
     13,640       127,125  
Immersion Corp.*(a)
     13,145       72,692  
Intermec, Inc.*(a)
     21,599       226,789  
Intevac, Inc.*(a)
     9,852       108,372  
Isilon Systems, Inc.*(a)
     12,001       210,498  
Netezza Corp.*(a)
     22,501       348,765  
Novatel Wireless, Inc.*(a)
     13,943       93,418  
Presstek, Inc.*
     12,518       33,048  
Quantum Corp.*
     96,246       153,994  
Rimage Corp.*
     4,307       72,702  
Silicon Graphics International Corp. *(a)
     13,659       106,540  
STEC, Inc.*(a)
     17,897       279,193  
Stratasys, Inc.*(a)
     9,148       207,751  
Super Micro Computer, Inc.*(a)
     11,031       159,288  
Synaptics, Inc.*(a)
     14,836       464,367  
Xyratex Ltd.*(a)
     13,467       174,936  
 
              
 
             3,883,532  
 
              
Construction & Engineering 0.8%
                
Comfort Systems USA, Inc.
     17,068       194,746  
Dycom Industries, Inc.*
     17,524       158,592  
EMCOR Group, Inc.*
     29,084       756,475  
Furmanite Corp.*(a)
     17,129       73,997  
Granite Construction, Inc.(a)
     15,260       354,795  
Great Lakes Dredge & Dock Corp.
     26,670       149,352  
Insituform Technologies, Inc., Class A *
     17,329       396,834  
Layne Christensen Co.*
     8,770       221,092  
MasTec, Inc.*
     23,475       249,304  
Michael Baker Corp.*
     3,474       134,791  
MYR Group, Inc.*(a)
     9,102       153,005  
Northwest Pipe Co.*
     4,369       79,385  
Orion Marine Group, Inc.*
     12,078       150,009  
Pike Electric Corp.*(a)
     7,832       73,542  
Primoris Services Corp.(a)
     9,413       67,962  
Sterling Construction Co., Inc.*
     7,552       93,569  
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

5

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide Small Cap Index Fund
Common Stocks (continued)
                 
            Market  
    Shares     Value  
 
Construction & Engineering (continued)
                
Tutor Perini Corp.*(a)
     11,892     $ 229,278  
 
              
 
             3,536,728  
 
              
Construction Materials 0.1%
                
Headwaters, Inc.*(a)
     28,042       97,025  
Texas Industries, Inc.(a)
     9,161       304,145  
United States Lime & Minerals, Inc. *(a)
     1,237       52,845  
 
              
 
             454,015  
 
              
Consumer Finance 0.5%
                
Advance America Cash Advance Centers, Inc.
    25,458       100,305  
Cardtronics, Inc.*
     12,320       159,544  
Cash America International, Inc.(a)
     12,901       432,183  
Credit Acceptance Corp.*
     2,487       139,222  
Dollar Financial Corp.*
     11,011       215,926  
EZCORP, Inc., Class A*(a)
     20,290       403,771  
First Cash Financial Services, Inc.*
     13,306       319,078  
First Marblehead Corp. (The)*(a)
     26,437       71,116  
Nelnet, Inc., Class A
     11,760       237,082  
Student Loan Corp. (The)
     2,023       50,777  
World Acceptance Corp.*(a)
     7,247       300,243  
 
              
 
             2,429,247  
 
              
Containers & Packaging 0.5%
                
AEP Industries, Inc.*(a)
     2,170       62,713  
Boise, Inc.*
     31,339       187,721  
Graham Packaging Co., Inc.*(a)
     7,782       91,361  
Graphic Packaging Holding Co.*(a)
     50,758       177,653  
Myers Industries, Inc.
     16,053       126,979  
Rock-Tenn Co., Class A
     17,060       907,933  
Silgan Holdings, Inc.
     23,507       668,069  
 
              
 
             2,222,429  
 
              
Distributors 0.0%†
                
Audiovox Corp., Class A*
     8,522       63,489  
Core-Mark Holding Co., Inc.*
     4,973       151,776  
 
              
 
             215,265  
 
              
Diversified Consumer Services 1.2%
                
American Public Education, Inc.*
     8,110       362,193  
Bridgepoint Education, Inc.*(a)
     8,755       162,405  
Capella Education Co.*(a)
     7,356       683,520  
Coinstar, Inc.*(a)
     13,933       633,952  
Corinthian Colleges, Inc.*(a)
     38,734       352,479  
CPI Corp.
     2,385       59,243  
Grand Canyon Education, Inc.*(a)
     13,689       332,232  
K12, Inc.*(a)
     11,114       289,520  
Lincoln Educational Services Corp.*
     7,346       154,927  
Mac-Gray Corp.
     5,509       59,662  
Matthews International Corp., Class A (a)
     13,227       477,627  
Pre-Paid Legal Services, Inc.*(a)
     3,347       164,204  
Regis Corp.(a)
     25,262       384,740  
Sotheby’s
     29,175       791,518  
Steiner Leisure Ltd.*
     6,646       282,521  
Stewart Enterprises, Inc., Class A (a)
     36,152       194,136  
Universal Technical Institute, Inc.
     9,288       189,197  
 
              
 
             5,574,076  
 
              
Diversified Financial Services 0.5%
                
Asta Funding, Inc.(a)
     5,392       48,798  
Compass Diversified Holdings(a)
     14,655       220,851  
Encore Capital Group, Inc.*
     6,161       135,542  
Life Partners Holdings, Inc.(a)
     3,466       60,135  
MarketAxess Holdings, Inc.
     12,310       175,048  
Marlin Business Services Corp.*
     3,975       44,440  
Medallion Financial Corp.(a)
     8,271       57,980  
NewStar Financial, Inc.*
     12,759       92,630  
PHH Corp.*(a)
     24,499       487,775  
Pico Holdings, Inc.*
     9,969       312,428  
Portfolio Recovery Associates, Inc. *
     7,442       518,559  
 
              
 
             2,154,186  
 
              
Diversified Telecommunication Services 0.7%
                
AboveNet, Inc.*(a)
     9,819       522,371  
Alaska Communications Systems Group, Inc. (a)
     20,002       185,218  
Atlantic Tele-Network, Inc.
     4,054       181,254  
Cbeyond, Inc.*(a)
     11,965       182,227  
Cincinnati Bell, Inc.*
     88,769       262,756  
Cogent Communications Group, Inc.*
     20,374       175,624  
Consolidated Communications Holdings, Inc.
     11,264       196,669  
General Communication, Inc., Class A *
     21,579       182,990  
Global Crossing Ltd.*
     13,388       154,899  
Globalstar, Inc.*(a)
     33,301       58,610  
IDT Corp., Class B*(a)
     6,534       121,010  
Iridium Communications, Inc.*(a)
     15,174       156,444  
Neutral Tandem, Inc.*(a)
     14,560       155,792  
PAETEC Holding Corp.*(a)
     56,391       221,617  
Premiere Global Services, Inc.*
     26,947       168,688  
Vonage Holdings Corp.*
     45,597       111,713  
 
              
 
             3,037,882  
 
              
Electric Utilities 1.2%
                
Allete, Inc.(a)
     13,516       487,387  
Central Vermont Public Service Corp. (a)
     5,900       125,316  
Cleco Corp.
     26,352       752,350  
El Paso Electric Co.*
     19,398       417,057  
Empire District Electric Co. (The) (a)
     17,476       343,403  
IDACORP, Inc.
     20,969       738,528  
MGE Energy, Inc.
     10,171       381,107  
PNM Resources, Inc.(a)
     38,682       457,608  
Portland General Electric Co.
     32,946       629,269  
UIL Holdings Corp.
     13,095       356,839  
Unisource Energy Corp.(a)
     15,829       510,960  
Unitil Corp.(a)
     5,605       122,469  
 
              
 
             5,322,293  
 
              
Electrical Equipment 1.9%
                
A123 Systems, Inc.*(a)
     32,117       346,221  
Acuity Brands, Inc.(a)
     19,051       802,619  
Advanced Battery Technologies, Inc. *(a)
     26,645       94,323  
American Superconductor Corp. *(a)
     19,784       596,488  
AZZ, Inc.(a)
     5,537       241,026  
Baldor Electric Co.
     20,596       787,179  
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

6

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide Small Cap Index Fund
Common Stocks (continued)
                 
            Market  
    Shares     Value  
 
Electrical Equipment (continued)
                
Belden, Inc.
     20,707     $ 494,690  
Brady Corp., Class A
     21,407       595,329  
Broadwind Energy, Inc.*(a)
     42,154       125,619  
Capstone Turbine Corp.*(a)
     111,040       109,930  
Encore Wire Corp.(a)
     8,216       174,836  
Ener1, Inc.*(a)
     28,553       93,368  
EnerSys*(a)
     21,193       513,294  
Franklin Electric Co., Inc.
     10,322       317,402  
FuelCell Energy, Inc.*(a)
     40,650       53,251  
Generac Holdings, Inc.*
     8,663       127,953  
GrafTech International Ltd.*
     52,297       820,017  
II-VI, Inc.*
     11,048       378,725  
LaBarge, Inc.*
     5,757       72,135  
LSI Industries, Inc.(a)
     9,161       48,187  
Polypore International, Inc.*
     9,699       238,207  
Powell Industries, Inc.*
     3,957       130,027  
PowerSecure International, Inc.*
     8,247       86,346  
Satcon Technology Corp.*(a)
     32,230       119,896  
UQM Technologies, Inc.*(a)
     16,188       58,601  
Vicor Corp.(a)
     8,709       137,080  
Woodward Governor Co.
     26,881       812,881  
 
              
 
             8,375,630  
 
              
Electronic Equipment, Instruments & Components 2.3%
                
Agilysys, Inc.*
     8,306       65,867  
Anixter International, Inc.*(a)
     12,328       595,689  
Benchmark Electronics, Inc.*
     27,770       463,759  
Brightpoint, Inc.*
     31,193       247,049  
Checkpoint Systems, Inc.*
     17,423       347,937  
Cogent, Inc.*(a)
     23,107       207,732  
Cognex Corp.
     17,564       327,569  
Coherent, Inc.*
     11,148       412,699  
Comverge, Inc.*(a)
     11,761       104,202  
CPI International, Inc.*
     3,457       48,640  
CTS Corp.
     15,376       143,766  
Daktronics, Inc.(a)
     15,380       131,038  
DDi Corp.
     6,226       56,408  
DTS, Inc.*(a)
     7,698       274,973  
Echelon Corp.*(a)
     15,299       116,119  
Electro Rent Corp.
     7,633       105,335  
Electro Scientific Industries, Inc.*
     12,489       143,374  
FARO Technologies, Inc.*
     7,123       146,520  
Gerber Scientific, Inc.*
     11,320       64,977  
ICx Technologies, Inc.*
     5,960       45,832  
Insight Enterprises, Inc.*
     20,777       302,721  
IPG Photonics Corp.*
     11,650       187,681  
Keithley Instruments, Inc.
     5,114       55,180  
L-1 Identity Solutions, Inc.*(a)
     34,123       278,444  
Littelfuse, Inc.*
     9,699       345,381  
Maxwell Technologies, Inc.*(a)
     12,068       152,539  
Measurement Specialties, Inc.*
     6,675       111,472  
Mercury Computer Systems, Inc.*
     10,882       143,642  
Methode Electronics, Inc.
     16,572       176,989  
Microvision, Inc.*(a)
     40,556       114,773  
MTS Systems Corp.(a)
     7,332       212,115  
Multi-Fineline Electronix, Inc.*(a)
     4,571       115,829  
Newport Corp.*
     16,571       210,949  
OSI Systems, Inc.*
     7,218       200,588  
Park Electrochemical Corp.
     9,156       251,241  
Plexus Corp.*(a)
     17,805       519,906  
Power-One, Inc.*(a)
     25,985       322,994  
RadiSys Corp.*
     10,845       107,040  
Richardson Electronics, Ltd.
     6,672       63,718  
Rofin-Sinar Technologies, Inc.*
     14,120       297,367  
Rogers Corp.*
     7,009       216,929  
Sanmina-SCI Corp.*(a)
     35,239       442,954  
ScanSource, Inc.*(a)
     11,850       326,823  
Smart Modular Technologies (WWH), Inc. *(a)
     23,856       129,061  
Spectrum Control, Inc.*
     5,809       87,658  
SYNNEX Corp.*(a)
     9,915       261,657  
Technitrol, Inc.
     19,313       77,059  
TTM Technologies, Inc.*
     35,390       362,747  
Universal Display Corp.*(a)
     13,415       276,483  
X-Rite, Inc.*(a)
     15,446       57,150  
Zygo Corp.*
     8,060       66,737  
 
              
 
             10,525,312  
 
              
Energy Equipment & Services 1.9%
                
Allis-Chalmers Energy, Inc.*
     18,424       48,087  
Basic Energy Services, Inc.*
     10,663       99,912  
Boots & Coots, Inc.*
     37,173       110,775  
Bristow Group, Inc.*(a)
     15,797       528,094  
Cal Dive International, Inc.*
     41,705       246,894  
CARBO Ceramics, Inc.(a)
     8,285       664,457  
Complete Production Services, Inc.*
     34,240       659,120  
Dawson Geophysical Co.*(a)
     3,573       83,287  
Dril-Quip, Inc.*(a)
     14,842       775,940  
Global Industries Ltd.*
     45,289       214,670  
Gulf Island Fabrication, Inc.(a)
     6,628       119,039  
Gulfmark Offshore, Inc., Class A *(a)
     10,214       300,700  
Helix Energy Solutions Group, Inc.*
     45,899       430,992  
Hercules Offshore, Inc.*(a)
     50,899       129,283  
Hornbeck Offshore Services, Inc. *(a)
     10,241       172,356  
ION Geophysical Corp.*(a)
     56,421       247,688  
Key Energy Services, Inc.*(a)
     55,088       532,150  
Lufkin Industries, Inc.
     13,136       540,021  
Matrix Service Co.*
     12,165       117,879  
Natural Gas Services Group, Inc.*
     5,402       89,403  
Newpark Resources, Inc.*
     39,411       314,894  
OYO Geospace Corp.*
     1,849       98,958  
Parker Drilling Co.*(a)
     51,848       216,725  
PHI, Inc., Non-Voting Shares*
     6,355       100,981  
Pioneer Drilling Co.*
     24,241       160,475  
RPC, Inc.(a)
     12,776       213,104  
Seahawk Drilling, Inc.*(a)
     5,008       49,729  
Superior Well Services, Inc.*(a)
     9,934       184,474  
T-3 Energy Services, Inc.*
     5,748       145,769  
Tesco Corp.*
     13,474       184,594  
TETRA Technologies, Inc.*
     33,332       347,319  
Vantage Drilling Co.*
     58,215       77,426  
Willbros Group, Inc.*
     17,837       163,209  
 
              
 
             8,368,404  
 
              
Food & Staples Retailing 0.9%
                
Andersons, Inc. (The)
     8,202       281,903  
Arden Group, Inc., Class A
     599       55,372  
Casey’s General Stores, Inc.
     21,931       838,861  
Great Atlantic & Pacific Tea Co. *(a)
     14,356       49,672  
Ingles Markets, Inc., Class A
     6,423       104,438  
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

7

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide Small Cap Index Fund
Common Stocks (continued)
                 
            Market  
    Shares     Value  
 
Food & Staples Retailing (continued)
                
Nash Finch Co.(a)
     5,591     $ 219,838  
Pantry, Inc. (The)*
     10,229       184,122  
PriceSmart, Inc.
     7,085       198,380  
Rite Aid Corp.*
     248,334       245,602  
Ruddick Corp.(a)
     19,246       682,271  
Spartan Stores, Inc.
     10,308       148,023  
United Natural Foods, Inc.*
     19,000       640,870  
Village Super Market, Inc., Class A
     3,101       84,781  
Weis Markets, Inc.(a)
     4,883       175,055  
Winn-Dixie Stores, Inc.*
     24,808       243,366  
 
              
 
             4,152,554  
 
              
Food Products 1.3%
                
B&G Foods, Inc., Class A
     21,349       244,873  
Calavo Growers, Inc.(a)
     5,018       105,980  
Cal-Maine Foods, Inc.
     6,251       197,469  
Chiquita Brands International, Inc. *(a)
     19,927       292,528  
Darling International, Inc.*
     36,441       297,359  
Diamond Foods, Inc.(a)
     9,585       426,916  
Dole Food Co., Inc.*(a)
     16,157       176,758  
Farmer Bros Co.(a)
     3,386       57,156  
Fresh Del Monte Produce, Inc.*
     17,401       362,637  
Hain Celestial Group, Inc. (The) *(a)
     18,065       380,449  
Imperial Sugar Co.
     5,974       71,688  
J&J Snack Foods Corp.
     6,262       261,188  
John B. Sanfilippo & Son, Inc.*
     3,936       55,261  
Lancaster Colony Corp.
     8,387       435,453  
Lance, Inc.
     11,596       245,023  
Limoneira Co.(a)
     3,843       70,096  
Pilgrim’s Pride Corp.*(a)
     21,921       150,159  
Sanderson Farms, Inc.(a)
     9,960       465,630  
Seneca Foods Corp., Class A*
     3,528       107,886  
Smart Balance, Inc.*
     28,848       110,199  
Synutra International, Inc.*(a)
     8,246       139,028  
Tootsie Roll Industries, Inc.
     10,408       262,594  
TreeHouse Foods, Inc.*(a)
     15,219       725,794  
 
              
 
             5,642,124  
 
              
Gas Utilities 1.2%
                
Chesapeake Utilities Corp.
     4,393       146,023  
Laclede Group, Inc. (The)
     9,700       338,918  
New Jersey Resources Corp.
     17,683       660,107  
Nicor, Inc.(a)
     19,336       846,724  
Northwest Natural Gas Co.(a)
     11,381       539,573  
Piedmont Natural Gas Co., Inc.(a)
     30,839       820,934  
South Jersey Industries, Inc.(a)
     12,833       599,558  
Southwest Gas Corp.
     19,731       634,746  
WGL Holdings, Inc.
     21,727       783,910  
 
              
 
             5,370,493  
 
              
Health Care Equipment & Supplies 3.4%
                
Abaxis, Inc.*
     9,741       195,307  
ABIOMED, Inc.*(a)
     14,147       156,890  
Accuray, Inc.*(a)
     22,924       150,840  
AGA Medical Holdings, Inc.*(a)
     6,360       92,156  
Align Technology, Inc.*(a)
     26,073       452,367  
Alphatec Holdings, Inc.*
     23,277       98,462  
American Medical Systems Holdings, Inc. *(a)
     33,079       739,646  
Analogic Corp.(a)
     5,677       258,133  
AngioDynamics, Inc.*(a)
     10,993       169,402  
Antares Pharma, Inc.*(a)
     32,096       48,786  
Arthrocare Corp.*
     11,923       319,298  
Atrion Corp.(a)
     696       100,509  
ATS Medical, Inc.*
     24,003       96,012  
Cantel Medical Corp.
     5,590       88,769  
Cerus Corp.*(a)
     18,054       55,967  
Conceptus, Inc.*(a)
     13,806       186,519  
CONMED Corp.*
     12,866       247,413  
CryoLife, Inc.*(a)
     13,461       72,151  
Cutera, Inc.*
     6,113       47,804  
Cyberonics, Inc.*(a)
     12,300       292,986  
Cynosure, Inc., Class A*
     4,540       46,671  
Delcath Systems, Inc.*(a)
     16,594       129,433  
DexCom, Inc.*
     25,666       286,433  
DynaVox, Inc., Class A*
     4,460       69,130  
Endologix, Inc.*(a)
     22,671       103,606  
Exactech, Inc.*
     3,690       58,228  
Greatbatch, Inc.*(a)
     10,169       229,616  
Haemonetics Corp.*
     10,835       598,634  
Hansen Medical, Inc.*(a)
     21,624       39,139  
HeartWare International, Inc.*
     4,148       267,256  
ICU Medical, Inc.*
     5,129       190,850  
Immucor, Inc.*
     30,546       587,094  
Insulet Corp.*
     16,921       250,262  
Integra LifeSciences Holdings Corp. *
     9,189       331,999  
Invacare Corp.(a)
     12,808       305,215  
IRIS International, Inc.*
     7,278       67,831  
Kensey Nash Corp.*(a)
     3,485       81,897  
MAKO Surgical Corp.*(a)
     11,226       123,149  
Masimo Corp.
     22,746       524,978  
Medical Action Industries, Inc.*
     6,400       87,680  
MELA Sciences, Inc.*(a)
     10,322       69,467  
Meridian Bioscience, Inc.(a)
     17,803       341,996  
Merit Medical Systems, Inc.*
     12,442       210,519  
Micrus Endovascular Corp.*
     7,095       165,030  
Natus Medical, Inc.*
     12,635       185,482  
Neogen Corp.*
     10,139       302,750  
NuVasive, Inc.*
     17,208       563,906  
NxStage Medical, Inc.*(a)
     10,915       172,348  
OraSure Technologies, Inc.*(a)
     21,164       100,317  
Orthofix International NV*
     7,828       237,032  
Orthovita, Inc.*(a)
     31,051       57,444  
Palomar Medical Technologies, Inc. *
     8,606       96,043  
Quidel Corp.*(a)
     9,420       116,808  
Rochester Medical Corp.*
     4,948       47,897  
RTI Biologics, Inc.*
     25,404       73,418  
Sirona Dental Systems, Inc.*
     14,658       451,173  
Solta Medical, Inc.*(a)
     29,652       51,594  
SonoSite, Inc.*
     6,491       189,862  
Spectranetics Corp.*
     14,819       76,466  
Staar Surgical Co.*(a)
     15,511       93,686  
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

8

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide Small Cap Index Fund
Common Stocks (continued)
                 
            Market  
    Shares     Value  
 
Health Care Equipment & Supplies (continued)
                
Stereotaxis, Inc.*(a)
     13,088     $ 54,708  
STERIS Corp.
     25,630       814,778  
SurModics, Inc.*(a)
     7,781       102,087  
Symmetry Medical, Inc.*
     15,993       155,612  
Syneron Medical Ltd.*(a)
     15,864       146,425  
Synovis Life Technologies, Inc.*
     5,114       83,256  
TomoTherapy, Inc.*
     21,952       73,100  
Unilife Corp.*(a)
     21,816       130,241  
Vascular Solutions, Inc.*
     7,582       91,287  
Volcano Corp.*
     22,141       488,652  
West Pharmaceutical Services, Inc. (a)
     14,440       524,750  
Wright Medical Group, Inc.*
     17,037       265,948  
Young Innovations, Inc.(a)
     2,564       68,459  
Zoll Medical Corp.*
     9,450       250,047  
 
              
 
             15,101,106  
 
              
Health Care Providers & Services 3.3%
                
Accretive Health, Inc.*
     5,382       63,992  
Air Methods Corp.*(a)
     4,962       157,543  
Alliance HealthCare Services, Inc. *(a)
     12,958       54,424  
Allied Healthcare International, Inc. *
     22,400       55,552  
Almost Family, Inc.*
     3,551       93,320  
Amedisys, Inc.*(a)
     12,431       326,562  
America Service Group, Inc.
     4,143       73,083  
American Dental Partners, Inc.*
     7,297       83,624  
AMERIGROUP Corp.*(a)
     22,593       807,926  
AMN Healthcare Services, Inc.*
     15,162       91,275  
Amsurg Corp.*
     13,551       248,254  
Assisted Living Concepts, Inc., Class A *
     4,459       140,280  
Bio-Reference Labs, Inc.*(a)
     10,560       221,443  
BioScrip, Inc.*
     17,871       75,952  
Capital Senior Living Corp.*(a)
     13,191       71,231  
CardioNet, Inc.*
     11,236       53,596  
Catalyst Health Solutions, Inc.*
     16,633       575,169  
Centene Corp.*(a)
     21,485       457,845  
Chemed Corp.(a)
     9,934       525,707  
Chindex International, Inc.*(a)
     6,150       86,161  
Clarient, Inc.*
     25,930       83,495  
Continucare Corp.*
     13,768       52,456  
CorVel Corp.*(a)
     3,189       126,890  
Cross Country Healthcare, Inc.*(a)
     14,231       126,371  
Emeritus Corp.*(a)
     9,016       155,165  
Ensign Group, Inc. (The)(a)
     6,516       117,288  
Five Star Quality Care, Inc.*
     14,426       52,655  
Genoptix, Inc.*(a)
     7,798       134,749  
Gentiva Health Services, Inc.*
     12,403       255,874  
Hanger Orthopedic Group, Inc.*
     11,494       197,122  
Health Grades, Inc.*
     12,106       98,664  
HealthSouth Corp.*(a)
     41,472       767,647  
Healthspring, Inc.*
     25,495       479,306  
Healthways, Inc.*
     15,121       215,323  
HMS Holdings Corp.*
     11,921       671,391  
inVentiv Health, Inc.*
     15,013       389,437  
IPC The Hospitalist Co., Inc.*
     7,186       185,039  
Kindred Healthcare, Inc.*
     17,472       232,378  
Landauer, Inc.
     4,095       257,043  
LCA-Vision, Inc.*
     8,482       44,022  
LHC Group, Inc.*(a)
     6,922       159,137  
Magellan Health Services, Inc.*
     14,515       610,936  
Medcath Corp.*
     9,845       87,227  
Metropolitan Health Networks, Inc. *(a)
     18,814       71,305  
Molina Healthcare, Inc.*(a)
     5,815       173,345  
MWI Veterinary Supply, Inc.*
     5,495       289,367  
National HealthCare Corp.(a)
     3,756       131,160  
Odyssey HealthCare, Inc.*
     14,769       395,218  
Owens & Minor, Inc.(a)
     27,481       747,208  
PharMerica Corp.*(a)
     13,581       177,368  
Providence Service Corp. (The)*
     5,785       83,304  
PSS World Medical, Inc.*
     24,968       469,898  
Psychiatric Solutions, Inc.*
     24,984       827,970  
RehabCare Group, Inc.*(a)
     10,930       231,607  
Res-Care, Inc.*
     11,685       114,747  
Rural/Metro Corp.*(a)
     8,957       81,061  
Select Medical Holdings Corp.*
     22,232       145,620  
Sun Healthcare Group, Inc.*
     19,674       162,901  
Sunrise Senior Living, Inc.*
     24,318       72,711  
Team Health Holdings, Inc.*(a)
     7,121       93,356  
Triple-S Management Corp., Class B *
     9,101       180,928  
U.S. Physical Therapy, Inc.*(a)
     4,574       83,201  
Universal American Corp.*
     14,170       237,206  
WellCare Health Plans, Inc.*(a)
     18,614       480,055  
 
              
 
             15,012,090  
 
              
Health Care Technology 0.6%
                
athenahealth, Inc.*(a)
     14,625       406,136  
Computer Programs & Systems, Inc.
    4,294       193,101  
Eclipsys Corp.*
     25,235       497,382  
MedAssets, Inc.*
     18,979       444,298  
Medidata Solutions, Inc.*
     8,571       129,251  
MedQuist, Inc.(a)
     5,498       47,503  
Merge Healthcare, Inc.*(a)
     24,448       79,212  
Omnicell, Inc.*
     14,556       179,330  
Phase Forward, Inc.*
     17,839       299,695  
Quality Systems, Inc.
     8,258       453,529  
Transcend Services, Inc.*(a)
     4,145       57,657  
Vital Images, Inc.*
     6,565       96,440  
 
              
 
             2,883,534  
 
              
Hotels, Restaurants & Leisure 2.4%
                
AFC Enterprises, Inc.*(a)
     11,615       109,994  
Ambassadors Group, Inc.(a)
     9,009       102,162  
Ameristar Casinos, Inc.(a)
     12,459       196,603  
Biglari Holdings, Inc.*
     650       188,825  
BJ’s Restaurants, Inc.*(a)
     10,086       257,193  
Bob Evans Farms, Inc.
     13,541       355,045  
Boyd Gaming Corp.*(a)
     24,271       205,333  
Buffalo Wild Wings, Inc.*(a)
     7,998       341,035  
California Pizza Kitchen, Inc.*
     8,627       154,768  
CEC Entertainment, Inc.*(a)
     9,690       336,534  
Cheesecake Factory, Inc. (The)*(a)
     26,536       622,004  
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

9

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide Small Cap Index Fund
Common Stocks (continued)
                 
            Market  
    Shares     Value  
 
Hotels, Restaurants & Leisure (continued)
                
Churchill Downs, Inc.
     5,189     $ 188,724  
Cracker Barrel Old Country Store, Inc. (a)
     10,543       516,396  
Denny’s Corp.*(a)
     45,598       122,203  
DineEquity, Inc.*(a)
     7,983       291,060  
Domino’s Pizza, Inc.*
     16,436       210,216  
Gaylord Entertainment Co.*(a)
     15,481       448,794  
Interval Leisure Group, Inc.*
     17,916       249,212  
Isle of Capri Casinos, Inc.*(a)
     7,714       64,798  
Jack in the Box, Inc.*
     24,228       499,824  
Jamba, Inc.*
     27,589       55,454  
Krispy Kreme Doughnuts, Inc.*
     27,043       106,549  
Landry’s Restaurants, Inc.*
     3,356       82,188  
Life Time Fitness, Inc.*(a)
     18,399       668,988  
Marcus Corp.
     9,990       121,878  
McCormick & Schmick’s Seafood Restaurants, Inc.*
     7,124       56,351  
Monarch Casino & Resort, Inc.*
     4,451       47,403  
Morgans Hotel Group Co.*(a)
     10,873       80,569  
Multimedia Games, Inc.*
     12,900       54,180  
O’Charleys, Inc.*(a)
     8,667       60,409  
Orient-Express Hotels Ltd., Class A *(a)
     40,515       369,092  
P.F. Chang’s China Bistro, Inc.(a)
     10,166       420,872  
Papa John’s International, Inc.*
     9,390       237,849  
Peet’s Coffee & Tea, Inc.*(a)
     5,177       210,341  
Pinnacle Entertainment, Inc.*(a)
     26,396       286,397  
Red Robin Gourmet Burgers, Inc. *(a)
     7,048       150,404  
Ruby Tuesday, Inc.*
     28,664       292,946  
Ruth’s Hospitality Group, Inc.*
     14,286       57,715  
Scientific Games Corp., Class A*
     28,895       305,998  
Shuffle Master, Inc.*
     24,038       211,294  
Sonic Corp.*
     27,276       240,029  
Speedway Motorsports, Inc.(a)
     5,745       78,821  
Texas Roadhouse, Inc.*
     25,416       342,608  
Vail Resorts, Inc.*(a)
     16,004       606,231  
 
              
 
             10,605,289  
 
              
Household Durables 0.8%
                
American Greetings Corp., Class A
     17,512       358,821  
Beazer Homes USA, Inc.*(a)
     33,605       142,149  
Blyth, Inc.
     2,437       96,383  
Cavco Industries, Inc.*
     2,974       104,268  
CSS Industries, Inc.(a)
     3,610       65,052  
Ethan Allen Interiors, Inc.
     11,112       170,458  
Furniture Brands International, Inc. *
     19,191       105,934  
Helen of Troy Ltd.*
     13,480       322,981  
Hooker Furniture Corp.
     5,300       62,646  
Hovnanian Enterprises, Inc., Class A *(a)
     22,388       97,836  
iRobot Corp.*(a)
     9,450       192,402  
Kid Brands, Inc.*
     5,885       48,963  
La-Z-Boy, Inc.*
     22,262       190,563  
Libbey, Inc.*(a)
     7,321       91,586  
Lifetime Brands, Inc.*(a)
     4,405       64,710  
M/I Homes, Inc.*
     8,681       91,585  
Meritage Homes Corp.*
     14,202       249,671  
National Presto Industries, Inc.(a)
     2,081       212,241  
Ryland Group, Inc.(a)
     19,344       315,694  
Sealy Corp.*(a)
     22,536       61,749  
Skyline Corp.(a)
     3,275       65,762  
Standard Pacific Corp.*(a)
     47,844       191,376  
Universal Electronics, Inc.*
     6,177       108,468  
 
              
 
             3,411,298  
 
              
Household Products 0.2%
                
Central Garden and Pet Co., Class A*
     25,147       254,236  
Oil-Dri Corp of America
     2,993       65,487  
Spectrum Brands Holdings, Inc.*(a)
     8,135       235,915  
WD-40 Co.
     7,540       274,154  
 
              
 
             829,792  
 
              
Independent Power Producers & Energy Traders 0.0%†
                
Dynegy, Inc.*
     45,380       161,099  
 
              
Industrial Conglomerates 0.3%
                
Otter Tail Corp.
     15,897       326,683  
Raven Industries, Inc.(a)
     7,229       253,232  
Seaboard Corp.(a)
     143       217,074  
Standex International Corp.
     5,633       169,103  
Tredegar Corp.
     11,008       189,998  
 
              
 
             1,156,090  
 
              
Information Technology Services 1.8%
                
Acxiom Corp.*
     30,165       462,731  
CACI International, Inc., Class A*
     13,238       622,451  
Cass Information Systems, Inc.(a)
     3,805       132,186  
CIBER, Inc.*
     28,772       95,811  
Computer Task Group, Inc.*
     6,938       55,504  
CSG Systems International, Inc.*
     15,092       284,635  
Diamond Management & Technology Consultants, Inc.
     10,706       116,160  
Echo Global Logistics, Inc.*(a)
     4,963       59,357  
Euronet Worldwide, Inc.*(a)
     21,787       342,056  
ExlService Holdings, Inc.*(a)
     6,791       126,516  
Forrester Research, Inc.*
     6,397       206,495  
Global Cash Access Holdings, Inc.*
     22,609       92,923  
Heartland Payment Systems, Inc.
     16,829       265,562  
iGate Corp.
     10,756       190,919  
Integral Systems, Inc.*(a)
     8,002       60,495  
Lionbridge Technologies, Inc.*
     26,768       131,699  
Mantech International Corp., Class A *
     9,725       385,596  
MAXIMUS, Inc.
     7,671       461,717  
MoneyGram International, Inc.*(a)
     36,881       96,259  
NCI, Inc., Class A*
     3,060       72,094  
Online Resources Corp.*
     12,190       49,979  
RightNow Technologies, Inc.*(a)
     9,575       151,477  
Sapient Corp.
     45,380       499,180  
SRA International, Inc., Class A*
     18,843       418,691  
Syntel, Inc.
     5,815       239,927  
TeleTech Holdings, Inc.*
     13,493       187,553  
Tier Technologies, Inc.*
     7,200       47,304  
TNS, Inc.*
     11,665       229,217  
Unisys Corp.*
     18,787       507,437  
VeriFone Holdings, Inc.*
     37,645       823,673  
Virtusa Corp.*(a)
     6,500       69,290  
Wright Express Corp.*(a)
     17,006       595,040  
 
              
 
             8,079,934  
 
              
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

10

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide Small Cap Index Fund
Common Stocks (continued)
                 
            Market  
    Shares     Value  
 
Insurance 2.8%
                
Alterra Capital Holdings Ltd.(a)
     42,012     $ 812,932  
Ambac Financial Group, Inc.*(a)
     114,700       95,786  
American Equity Investment Life Holding Co.(a)
     25,829       278,953  
American Physicians Capital, Inc.
     3,569       146,151  
American Physicians Service Group, Inc.
    3,152       83,244  
American Safety Insurance Holdings Ltd. *
     4,965       81,923  
AMERISAFE, Inc.*
     8,394       150,756  
Amtrust Financial Services, Inc.
     9,999       128,287  
Argo Group International Holdings Ltd. (a)
     13,640       424,750  
Baldwin & Lyons, Inc., Class B(a)
     3,969       88,667  
Citizens, Inc.*
     16,443       109,839  
CNA Surety Corp.*
     7,689       132,635  
CNO Financial Group, Inc.*
     97,878       525,605  
Delphi Financial Group, Inc., Class A
    20,800       539,760  
Donegal Group, Inc., Class A
     5,517       64,880  
eHealth, Inc.*
     10,500       116,550  
EMC Insurance Group, Inc.
     2,397       53,597  
Employers Holdings, Inc.
     18,460       286,868  
Enstar Group Ltd.*
     3,070       223,281  
FBL Financial Group, Inc., Class A (a)
     6,033       136,889  
First American Financial Corp.
     45,584       672,364  
First Mercury Financial Corp.
     6,650       76,209  
Flagstone Reinsurance Holdings SA
     23,025       254,196  
FPIC Insurance Group, Inc.*(a)
     4,549       134,423  
Global Indemnity PLC*
     6,322       96,221  
Greenlight Capital Re Ltd., Class A *
     12,538       323,355  
Hallmark Financial Services*
     5,444       55,202  
Harleysville Group, Inc.
     5,127       161,398  
Hilltop Holdings, Inc.*
     17,429       181,087  
Horace Mann Educators Corp.
     17,194       289,203  
Infinity Property & Casualty Corp.
     5,823       279,737  
Kansas City Life Insurance Co.(a)
     1,985       64,671  
Maiden Holdings Ltd.(a)
     22,312       153,060  
Meadowbrook Insurance Group, Inc.
     23,916       219,071  
Montpelier Re Holdings Ltd.
     30,967       503,523  
National Financial Partners Corp.*
     18,922       203,033  
National Interstate Corp.(a)
     3,023       67,443  
National Western Life Insurance Co., Class A(a)
     982       151,385  
Navigators Group, Inc. (The)*
     5,257       224,106  
NYMAGIC, Inc.
     2,359       60,155  
Phoenix Cos., Inc. (The)*(a)
     53,365       128,076  
Platinum Underwriters Holdings Ltd.
    17,469       682,689  
PMA Capital Corp., Class A*
     14,660       98,369  
Presidential Life Corp.
     9,641       94,578  
Primerica, Inc.*
     10,623       248,260  
ProAssurance Corp.*
     14,047       835,937  
RLI Corp.(a)
     7,795       432,545  
Safety Insurance Group, Inc.
     5,605       219,716  
SeaBright Holdings, Inc.
     9,800       80,262  
Selective Insurance Group, Inc.
     23,500       365,660  
State Auto Financial Corp.
     6,422       101,018  
Stewart Information Services Corp. (a)
     8,269       82,607  
Tower Group, Inc.
     17,387       374,690  
United Fire & Casualty Co.
     10,220       219,117  
 
              
 
             12,614,719  
 
              
Internet & Catalog Retail 0.4%
                
Blue Nile, Inc.*(a)
     5,586       284,327  
Drugstore.Com, Inc.*
     42,718       117,902  
Gaiam, Inc., Class A
     7,800       46,800  
HSN, Inc.*
     16,960       498,624  
NutriSystem, Inc.(a)
     13,856       271,023  
Orbitz Worldwide, Inc.*
     9,458       42,655  
Overstock.com, Inc.*(a)
     6,754       133,527  
PetMed Express, Inc.(a)
     10,287       164,078  
Shutterfly, Inc.*
     11,897       298,377  
US Auto Parts Network, Inc.*
     6,579       44,079  
Vitacost.com, Inc.*(a)
     6,420       55,148  
 
              
 
             1,956,540  
 
              
Internet Software & Services 1.8%
                
Ancestry.com, Inc.*(a)
     8,448       166,764  
Archipelago Learning, Inc.*(a)
     5,226       57,172  
Art Technology Group, Inc.*
     69,597       250,549  
comScore, Inc.*
     10,154       201,151  
Constant Contact, Inc.*(a)
     12,620       245,964  
DealerTrack Holdings, Inc.*
     17,784       277,608  
Dice Holdings, Inc.*
     7,182       58,892  
Digital River, Inc.*
     17,417       457,893  
DivX, Inc.*
     15,199       115,664  
EarthLink, Inc.
     47,163       416,449  
GSI Commerce, Inc.*(a)
     27,331       615,494  
InfoSpace, Inc.*
     16,487       129,093  
Internap Network Services Corp.*
     24,220       113,350  
Internet Brands, Inc., Class A*(a)
     13,092       143,750  
Internet Capital Group, Inc.*(a)
     16,721       140,791  
j2 Global Communications, Inc.*(a)
     19,776       465,329  
Keynote Systems, Inc.
     6,126       61,321  
KIT Digital, Inc.*(a)
     8,750       85,663  
Knot, Inc. (The)*
     13,662       112,438  
Limelight Networks, Inc.*
     19,156       81,413  
Liquidity Services, Inc.*
     6,435       87,387  
LivePerson, Inc.*(a)
     20,302       142,926  
Local.com Corp.*(a)
     7,190       45,009  
LogMeIn, Inc.*
     6,718       191,463  
LoopNet, Inc.*(a)
     8,712       99,665  
ModusLink Global Solutions, Inc.*
     20,194       132,473  
Move, Inc.*
     70,304       158,887  
NIC, Inc.(a)
     25,107       186,294  
OpenTable, Inc.*(a)
     7,012       313,436  
Openwave Systems, Inc.*(a)
     38,221       77,589  
Perficient, Inc.*
     10,306       89,147  
QuinStreet, Inc.*(a)
     4,805       57,900  
Rackspace Hosting, Inc.*(a)
     42,619       796,975  
RealNetworks, Inc.*(a)
     38,388       127,448  
Saba Software, Inc.*(a)
     12,833       63,010  
SAVVIS, Inc.*(a)
     16,714       294,668  
Stamps.com, Inc.*
     4,892       53,519  
support.com, Inc.*
     21,150       87,350  
Terremark Worldwide, Inc.*(a)
     26,151       234,836  
United Online, Inc.
     38,707       244,628  
ValueClick, Inc.*
     35,886       392,952  
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

11

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide Small Cap Index Fund
Common Stocks (continued)
                 
            Market  
    Shares     Value  
 
Internet Software & Services (continued)
                
Vocus, Inc.*
     7,740     $ 126,085  
Zix Corp.*(a)
     27,191       61,996  
 
              
 
             8,262,391  
 
              
Leisure Equipment & Products 0.8%
                
Arctic Cat, Inc.*(a)
     5,534       55,063  
Brunswick Corp.(a)
     39,116       661,843  
Callaway Golf Co.(a)
     28,930       195,278  
Eastman Kodak Co.*(a)
     118,492       470,413  
JAKKS Pacific, Inc.*(a)
     12,494       197,155  
Leapfrog Enterprises, Inc.*
     15,246       77,450  
Polaris Industries, Inc.(a)
     13,672       816,218  
Pool Corp.(a)
     21,926       485,222  
RC2 Corp.*
     9,827       162,637  
Smith & Wesson Holding Corp.*(a)
     26,967       103,823  
Sport Supply Group, Inc.
     3,600       48,744  
Steinway Musical Instruments, Inc. *
     2,826       55,051  
Sturm Ruger & Co., Inc.
     8,396       117,544  
 
              
 
             3,446,441  
 
              
Life Sciences Tools & Services 0.6%
                
Accelrys, Inc.*
     24,907       175,594  
Affymetrix, Inc.*
     31,775       155,380  
Albany Molecular Research, Inc.*
     11,102       72,163  
Bruker Corp.*(a)
     31,842       419,359  
Caliper Life Sciences, Inc.*(a)
     21,050       82,516  
Cambrex Corp.*(a)
     15,719       55,802  
Dionex Corp.*(a)
     7,729       583,540  
Enzo Biochem, Inc.*(a)
     15,962       73,425  
eResearchTechnology, Inc.*(a)
     21,876       177,196  
Furiex Pharmaceuticals, Inc.*
     3,707       43,409  
Kendle International, Inc.*
     6,758       83,191  
Luminex Corp.*(a)
     16,438       267,611  
Parexel International Corp.*
     25,744       528,524  
Pure Bioscience*(a)
     16,698       44,918  
Sequenom, Inc.*(a)
     26,987       155,175  
 
              
 
             2,917,803  
 
              
Machinery 2.9%
                
3D Systems Corp.*
     8,157       120,724  
Actuant Corp., Class A(a)
     29,766       613,775  
Alamo Group, Inc.
     2,951       69,142  
Albany International Corp., Class A (a)
     12,361       226,824  
Altra Holdings, Inc.*(a)
     12,213       177,088  
American Railcar Industries, Inc.*
     4,422       60,360  
Ampco-Pittsburgh Corp.(a)
     3,840       92,198  
ArvinMeritor, Inc.*(a)
     41,382       679,079  
Astec Industries, Inc.*(a)
     8,730       273,685  
Badger Meter, Inc.(a)
     6,591       258,104  
Barnes Group, Inc.
     21,535       395,813  
Blount International, Inc.*
     21,284       226,675  
Briggs & Stratton Corp.(a)
     22,013       417,587  
Cascade Corp.
     3,862       147,413  
Chart Industries, Inc.*
     12,810       228,146  
CIRCOR International, Inc.(a)
     7,621       238,385  
Clarcor, Inc.
     22,020       826,190  
Colfax Corp.*
     10,867       140,728  
Columbus Mckinnon Corp.*
     8,468       133,202  
Commercial Vehicle Group, Inc.*(a)
     11,161       125,561  
Douglas Dynamics, Inc.*
     5,100       60,435  
Dynamic Materials Corp.(a)
     5,730       84,116  
Energy Recovery, Inc.*(a)
     19,393       79,511  
EnPro Industries, Inc.*(a)
     9,094       272,365  
ESCO Technologies, Inc.(a)
     11,647       347,197  
Federal Signal Corp.
     27,587       164,419  
Flow International Corp.*(a)
     23,152       62,973  
Force Protection, Inc.*(a)
     31,584       141,180  
FreightCar America, Inc.
     5,330       132,344  
Gorman-Rupp Co. (The)
     5,402       161,736  
Graham Corp.(a)
     4,500       72,585  
Greenbrier Cos., Inc.*
     8,388       109,547  
John Bean Technologies Corp.
     12,581       197,648  
Kadant, Inc.*(a)
     5,525       107,682  
Kaydon Corp.
     14,604       554,806  
LB Foster Co., Class A*(a)
     4,534       138,650  
Lindsay Corp.(a)
     5,498       191,220  
Lydall, Inc.*
     7,606       54,383  
Met-Pro Corp.(a)
     6,881       70,943  
Middleby Corp.*(a)
     7,312       420,513  
Miller Industries, Inc.
     4,693       62,745  
Mueller Industries, Inc.
     16,575       409,734  
Mueller Water Products, Inc., Class A
    68,726       261,159  
NACCO Industries, Inc., Class A
     2,589       230,525  
Nordson Corp.
     14,757       930,429  
PMFG, Inc.*(a)
     6,642       122,943  
RBC Bearings, Inc.*
     9,604       294,555  
Robbins & Myers, Inc.
     11,822       280,418  
Sauer-Danfoss, Inc.*
     5,302       79,000  
Sun Hydraulics Corp.(a)
     5,698       146,951  
Tecumseh Products Co., Class A*
     8,454       109,395  
Tennant Co.
     8,325       312,354  
Thermadyne Holdings Corp.*(a)
     4,027       54,969  
Titan International, Inc.
     15,819       173,693  
Trimas Corp.*(a)
     6,836       81,622  
Twin Disc, Inc.
     4,091       52,856  
Wabash National Corp.*(a)
     26,130       218,708  
Watts Water Technologies, Inc., Class A (a)
     12,841       413,480  
Xerium Technologies, Inc.*(a)
     3,654       48,050  
 
              
 
             13,158,518  
 
              
Marine 0.2%
                
American Commercial Lines, Inc.*(a)
     4,101       99,039  
Baltic Trading Ltd.*
     7,732       88,377  
Eagle Bulk Shipping, Inc.*(a)
     28,524       138,056  
Excel Maritime Carriers Ltd.*(a)
     18,280       112,605  
Genco Shipping & Trading Ltd.*(a)
     12,019       200,717  
Horizon Lines, Inc., Class A
     14,216       65,962  
International Shipholding Corp.(a)
     2,773       69,159  
Ultrapetrol Bahamas Ltd.*(a)
     10,972       52,446  
 
              
 
             826,361  
 
              
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

12

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide Small Cap Index Fund
Common Stocks (continued)
                 
            Market  
    Shares     Value  
 
Media 1.4%
                
AH Belo Corp., Class A*(a)
     8,498     $ 65,775  
Arbitron, Inc.(a)
     11,774       340,269  
Ascent Media Corp., Class A*(a)
     6,850       190,430  
Ballantyne Strong, Inc.*(a)
     6,574       50,751  
Belo Corp., Class A*
     41,006       248,086  
Carmike Cinemas, Inc.*
     4,434       32,413  
Cinemark Holdings, Inc.(a)
     25,412       370,761  
CKX, Inc.*
     24,605       128,930  
Cumulus Media, Inc., Class A*
     9,591       29,061  
Dex One Corp.*
     22,108       400,597  
E.W. Scripps Co. (The), Class A*(a)
     14,474       113,766  
Entercom Communications Corp., Class A *(a)
     10,743       90,026  
Entravision Communications Corp., Class A *
     23,388       50,518  
Fisher Communications, Inc.*(a)
     3,330       58,941  
Global Sources Ltd.*
     10,771       93,277  
Gray Television, Inc.*
     22,155       57,603  
Harte-Hanks, Inc.
     17,269       194,794  
Journal Communications, Inc., Class A *(a)
     19,300       91,868  
Knology, Inc.*
     13,541       153,013  
Lee Enterprises, Inc.*(a)
     20,596       60,552  
LIN TV Corp., Class A*
     13,437       78,606  
Lions Gate Entertainment Corp.*
     30,838       203,531  
Live Nation Entertainment, Inc.*(a)
     61,272       565,541  
LodgeNet Interactive Corp.*(a)
     11,838       42,617  
Martha Stewart Living Omnimedia, Class A *(a)
     12,275       61,989  
McClatchy Co. (The), Class A*(a)
     27,450       96,075  
Media General, Inc., Class A*(a)
     9,954       102,825  
Mediacom Communications Corp., Class A *
     18,378       134,894  
National CineMedia, Inc.
     19,244       345,237  
Playboy Enterprises, Inc., Class B *(a)
     10,627       57,492  
RCN Corp.*
     15,724       234,917  
Rentrak Corp.*
     4,363       112,958  
Scholastic Corp.
     13,604       344,589  
Sinclair Broadcast Group, Inc., Class A *
     20,621       124,551  
SuperMedia, Inc.*(a)
     5,899       124,410  
Valassis Communications, Inc.*
     21,769       752,554  
Warner Music Group Corp.*(a)
     20,951       98,260  
World Wrestling Entertainment, Inc., Class A(a)
     10,839       173,858  
 
              
 
             6,476,335  
 
              
Metals & Mining 1.5%
                
Allied Nevada Gold Corp.*(a)
     32,774       565,352  
AM Castle & Co.*
     7,527       111,174  
AMCOL International Corp.(a)
     10,522       315,239  
Brush Engineered Materials, Inc.*
     9,053       215,914  
Capital Gold Corp.*(a)
     21,970       81,948  
Century Aluminum Co.*
     28,146       293,563  
Coeur d’Alene Mines Corp.*(a)
     38,549       587,101  
General Moly, Inc.*(a)
     29,119       96,675  
Globe Specialty Metals, Inc.*
     27,230       313,962  
Golden Star Resources Ltd.*(a)
     113,695       465,013  
Haynes International, Inc.(a)
     5,472       184,188  
Hecla Mining Co.*(a)
     105,925       523,270  
Horsehead Holding Corp.*
     19,620       150,289  
Jaguar Mining, Inc.*(a)
     37,230       301,935  
Kaiser Aluminum Corp.
     6,766       277,406  
Metals USA Holdings Corp.*
     5,350       66,286  
Olympic Steel, Inc.(a)
     4,213       107,137  
RTI International Metals, Inc.*(a)
     13,193       374,417  
Stillwater Mining Co.*(a)
     19,574       269,534  
Thompson Creek Metals Co., Inc. *(a)
     61,504       571,987  
Universal Stainless & Alloy*
     3,221       73,503  
US Energy Corp. Wyoming*(a)
     12,304       59,059  
US Gold Corp.*
     39,601       196,025  
Worthington Industries, Inc.
     26,516       379,974  
 
              
 
             6,580,951  
 
              
Multiline Retail 0.4%
                
99 Cents Only Stores*(a)
     20,255       336,638  
Bon-Ton Stores, Inc. (The)*
     5,355       51,194  
Dillard’s, Inc., Class A(a)
     20,276       469,187  
Fred’s, Inc., Class A
     17,779       192,724  
Retail Ventures, Inc.*
     10,558       102,307  
Saks, Inc.*(a)
     59,542       488,840  
Tuesday Morning Corp.*
     13,242       57,735  
 
              
 
             1,698,625  
 
              
Multi-Utilities 0.4%
                
Avista Corp.
     24,231       506,913  
Black Hills Corp.
     17,227       549,886  
CH Energy Group, Inc.(a)
     6,983       291,889  
NorthWestern Corp.
     15,799       445,532  
 
              
 
             1,794,220  
 
              
Oil, Gas & Consumable Fuels 3.4%
                
American Oil & Gas, Inc.*
     22,889       167,547  
Apco Oil and Gas International, Inc. (a)
     4,241       114,719  
Approach Resources, Inc.*
     6,846       46,142  
ATP Oil & Gas Corp.*(a)
     19,726       208,307  
Berry Petroleum Co., Class A(a)
     22,524       671,666  
Bill Barrett Corp.*
     20,125       712,022  
BPZ Resources, Inc.*(a)
     42,335       191,778  
Brigham Exploration Co.*
     51,348       886,266  
Callon Petroleum Co.*(a)
     13,422       77,445  
CAMAC Energy, Inc.*(a)
     22,595       81,342  
Carrizo Oil & Gas, Inc.*(a)
     13,867       271,932  
Cheniere Energy, Inc.*(a)
     26,132       74,738  
Clayton Williams Energy, Inc.*
     2,645       117,729  
Clean Energy Fuels Corp.*(a)
     17,815       336,347  
Cloud Peak Energy, Inc.*
     14,071       215,990  
Contango Oil & Gas Co.*
     5,216       228,669  
Crosstex Energy, Inc.*
     18,517       143,322  
CVR Energy, Inc.*
     13,713       111,075  
Delek US Holdings, Inc.(a)
     7,261       54,457  
Delta Petroleum Corp.*(a)
     87,897       71,636  
DHT Holdings, Inc.(a)
     22,600       94,920  
Endeavour International Corp.*(a)
     67,233       82,697  
Energy Partners Ltd.*
     13,105       167,613  
Energy XXI Bermuda Ltd.*(a)
     22,505       381,910  
FX Energy, Inc.*
     21,483       75,620  
Gastar Exploration Ltd.*(a)
     20,948       85,677  
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

13

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide Small Cap Index Fund
Common Stocks (continued)
                 
            Market  
    Shares     Value  
 
Oil, Gas & Consumable Fuels (continued)
                
General Maritime Corp.
     32,747     $ 183,056  
GeoResources, Inc.*
     5,929       87,927  
GMX Resources, Inc.*(a)
     13,700       84,803  
Golar LNG Ltd.
     16,595       178,894  
Goodrich Petroleum Corp.*(a)
     11,037       137,300  
Green Plains Renewable Energy, Inc. *
     7,655       70,885  
Gulfport Energy Corp.*
     12,365       161,487  
Harvest Natural Resources, Inc.*(a)
     15,403       127,845  
Houston American Energy Corp.(a)
     8,050       86,376  
International Coal Group, Inc.*
     58,049       261,220  
James River Coal Co.*(a)
     12,274       214,918  
Knightsbridge Tankers Ltd.
     7,666       143,048  
Kodiak Oil & Gas Corp.*(a)
     53,482       179,165  
L&L Energy, Inc.*
     7,781       88,314  
Magnum Hunter Resources Corp.*(a)
     21,607       98,528  
McMoRan Exploration Co.*
     36,666       381,693  
Miller Petroleum, Inc.*(a)
     8,003       39,935  
Nordic American Tanker Shipping(a)
     20,294       582,032  
Northern Oil and Gas, Inc.*
     19,641       288,330  
Overseas Shipholding Group, Inc.
     11,201       439,415  
Panhandle Oil and Gas, Inc., Class A (a)
     3,344       99,952  
Patriot Coal Corp.*(a)
     34,414       415,033  
Penn Virginia Corp.(a)
     20,086       381,634  
Petrocorp, Inc.*(b)
     1,500       0  
Petroleum Development Corp.*(a)
     8,634       251,595  
PetroQuest Energy, Inc.*(a)
     24,693       163,962  
RAM Energy Resources, Inc.*(a)
     26,253       49,881  
Rentech, Inc.*(a)
     96,545       93,938  
Resolute Energy Corp.*
     17,039       202,764  
REX American Resources Corp.*
     3,391       54,426  
Rex Energy Corp.*(a)
     14,685       155,661  
Rosetta Resources, Inc.*
     23,389       516,195  
Scorpio Tankers, Inc.*
     5,952       65,174  
Ship Finance International Ltd.(a)
     19,701       375,501  
Stone Energy Corp.*
     19,086       224,451  
Swift Energy Co.*
     16,661       432,020  
Syntroleum Corp.*(a)
     33,111       63,904  
Teekay Tankers Ltd., Class A(a)
     11,810       157,545  
TransAtlantic Petroleum Ltd.*(a)
     66,310       209,540  
Uranium Energy Corp.*(a)
     27,000       74,790  
USEC, Inc.*(a)
     50,490       279,210  
VAALCO Energy, Inc.*
     22,747       135,800  
Venoco, Inc.*(a)
     8,791       165,447  
W&T Offshore, Inc.(a)
     15,929       146,706  
Warren Resources, Inc.*(a)
     33,481       105,130  
Western Refining, Inc.*(a)
     22,895       121,343  
World Fuel Services Corp.
     26,132       680,739  
 
              
 
             15,129,078  
 
              
Paper & Forest Products 0.5%
                
Buckeye Technologies, Inc.*
     17,559       199,295  
Clearwater Paper Corp.*
     5,079       313,019  
Deltic Timber Corp.(a)
     4,778       218,737  
KapStone Paper and Packaging Corp. *
     17,109       195,727  
Louisiana-Pacific Corp.*
     55,896       406,923  
Neenah Paper, Inc.
     6,700       120,198  
P.H. Glatfelter Co.(a)
     20,309       232,132  
Schweitzer-Mauduit International, Inc.
    8,034       425,239  
Wausau Paper Corp.*
     21,962       150,000  
 
              
 
             2,261,270  
 
              
Personal Products 0.4%
                
Elizabeth Arden, Inc.*
     10,921       169,603  
Female Health Co. (The)(a)
     8,284       42,083  
Inter Parfums, Inc.
     6,662       116,252  
Medifast, Inc.*(a)
     5,987       181,047  
Nu Skin Enterprises, Inc., Class A (a)
     21,566       614,200  
Nutraceutical International Corp.*
     4,500       70,875  
Prestige Brands Holdings, Inc.*
     19,330       158,892  
Revlon, Inc., Class A*
     4,985       62,512  
Schiff Nutrition International, Inc. (a)
     6,016       48,429  
USANA Health Sciences, Inc.*(a)
     2,740       114,806  
 
              
 
             1,578,699  
 
              
Pharmaceuticals 1.5%
                
Akorn, Inc.*
     25,142       91,517  
Alexza Pharmaceuticals, Inc.*(a)
     18,716       51,843  
Ardea Biosciences, Inc.*
     6,022       120,139  
Auxilium Pharmaceuticals, Inc.*(a)
     18,465       416,570  
AVANIR Pharmaceuticals, Inc., Class A *
     33,126       106,003  
BioMimetic Therapeutics, Inc.*(a)
     7,577       69,936  
BMP Sunstone Corp.*(a)
     13,562       89,509  
Cadence Pharmaceuticals, Inc.*(a)
     11,364       87,048  
Corcept Therapeutics, Inc.*(a)
     11,865       38,561  
Cypress Bioscience, Inc.*
     16,517       60,287  
Depomed, Inc.*
     24,074       68,852  
Durect Corp.*(a)
     41,197       100,521  
Eurand NV*(a)
     8,616       68,497  
Hi-Tech Pharmacal Co., Inc.*(a)
     4,638       81,536  
Impax Laboratories, Inc.*(a)
     27,699       453,987  
Inspire Pharmaceuticals, Inc.*
     26,883       135,759  
Jazz Pharmaceuticals, Inc.*
     6,806       59,212  
MAP Pharmaceuticals, Inc.*(a)
     6,234       83,536  
Medicines Co. (The)*
     24,005       221,086  
Medicis Pharmaceutical Corp., Class A
    26,484       671,369  
Nektar Therapeutics*(a)
     41,708       544,706  
Obagi Medical Products, Inc.*(a)
     7,882       91,589  
Optimer Pharmaceuticals, Inc.*(a)
     15,159       137,644  
Pain Therapeutics, Inc.*
     16,513       96,601  
Par Pharmaceutical Cos., Inc.*
     15,449       407,854  
Pozen, Inc.*(a)
     12,115       96,678  
Questcor Pharmaceuticals, Inc.*
     24,699       277,864  
Salix Pharmaceuticals Ltd.*(a)
     24,910       1,056,433  
Santarus, Inc.*(a)
     25,009       62,272  
Somaxon Pharmaceuticals, Inc.*(a)
     12,612       46,538  
SuperGen, Inc.*
     26,927       54,393  
ViroPharma, Inc.*
     34,200       450,414  
Vivus, Inc.*(a)
     35,714       202,141  
XenoPort, Inc.*
     13,041       80,072  
 
              
 
             6,680,967  
 
              
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

14

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide Small Cap Index Fund
Common Stocks (continued)
                 
            Market  
    Shares     Value  
 
Professional Services 1.1%
                
Acacia Research — Acacia Technologies *
     15,113     $ 202,363  
Administaff, Inc.
     9,591       249,942  
Advisory Board Co. (The)*
     6,855       300,660  
Barrett Business Services, Inc.
     3,778       56,519  
CBIZ, Inc.*(a)
     20,131       132,663  
CDI Corp.(a)
     5,737       96,382  
Corporate Executive Board Co. (The)
    15,111       425,677  
CoStar Group, Inc.*(a)
     9,116       399,554  
CRA International, Inc.*(a)
     5,184       99,637  
Dolan Co. (The)*
     13,774       161,018  
Exponent, Inc.*
     6,113       201,790  
GP Strategies Corp.*(a)
     6,945       52,435  
Heidrick & Struggles International, Inc.
     7,843       157,644  
Hill International, Inc.*(a)
     12,840       59,064  
Hudson Highland Group, Inc.*(a)
     14,631       65,108  
Huron Consulting Group, Inc.*
     9,806       201,317  
ICF International, Inc.*
     7,779       178,917  
Kelly Services, Inc., Class A*(a)
     12,148       179,790  
Kforce, Inc.*(a)
     13,547       183,020  
Korn/Ferry International*
     20,238       284,344  
Mistras Group, Inc.*
     6,506       64,995  
Navigant Consulting, Inc.*
     22,423       220,642  
On Assignment, Inc.*
     16,527       79,825  
Resources Connection, Inc.*
     20,521       266,568  
School Specialty, Inc.*
     8,609       165,035  
SFN Group, Inc.*
     23,531       176,247  
TrueBlue, Inc.*
     19,555       251,673  
Volt Information Sciences, Inc.*
     6,923       61,822  
VSE Corp.
     1,978       70,239  
 
              
 
             5,044,890  
 
              
Real Estate Investment Trusts (REITs) 7.2%
                
Acadia Realty Trust
     17,904       331,940  
Agree Realty Corp.
     4,046       93,463  
Alexander’s, Inc.(a)
     914       305,431  
American Campus Communities, Inc.(a)
     22,960       664,692  
American Capital Agency Corp.(a)
     14,074       387,316  
Anworth Mortgage Asset Corp.(a)
     49,881       347,671  
Apollo Commercial Real Estate Finance, Inc.
     5,239       88,539  
Ashford Hospitality Trust, Inc.*
     18,824       165,463  
Associated Estates Realty Corp.
     14,095       195,075  
BioMed Realty Trust, Inc.
     49,795       898,302  
CapLease, Inc.
     27,398       134,250  
Capstead Mortgage Corp.(a)
     30,137       352,603  
CBL & Associates Properties, Inc.(a)
     60,171       846,606  
Cedar Shopping Centers, Inc.
     25,281       156,742  
Chatham Lodging Trust*
     4,545       68,948  
Chesapeake Lodging Trust*
     3,981       69,628  
Cogdell Spencer, Inc.
     20,329       151,044  
Colonial Properties Trust
     31,055       500,607  
Colony Financial, Inc.
     6,987       124,788  
Cousins Properties, Inc.(a)
     39,688       271,863  
CreXus Investment Corp.
     6,829       82,358  
Cypress Sharpridge Investments, Inc.
     8,606       113,599  
DCT Industrial Trust, Inc.(a)
     93,359       437,854  
DiamondRock Hospitality Co.*(a)
     68,026       631,281  
DuPont Fabros Technology, Inc.
     18,079       456,314  
Dynex Capital, Inc.(a)
     7,946       77,076  
EastGroup Properties, Inc.(a)
     11,723       425,193  
Education Realty Trust, Inc.
     26,575       184,696  
Entertainment Properties Trust(a)
     20,242       844,901  
Equity Lifestyle Properties, Inc.
     11,484       607,848  
Equity One, Inc.
     16,034       273,219  
Excel Trust, Inc.*
     7,422       84,908  
Extra Space Storage, Inc.
     38,673       599,818  
FelCor Lodging Trust, Inc.*
     41,985       248,971  
First Industrial Realty Trust, Inc.*
     29,048       122,583  
First Potomac Realty Trust
     16,764       259,842  
Franklin Street Properties Corp.(a)
     30,507       372,490  
Getty Realty Corp.
     9,078       217,509  
Gladstone Commercial Corp.(a)
     4,918       83,803  
Glimcher Realty Trust
     30,967       205,931  
Government Properties Income Trust (a)
     9,368       260,337  
Hatteras Financial Corp.(a)
     15,421       457,078  
Healthcare Realty Trust, Inc.
     27,067       635,262  
Hersha Hospitality Trust
     49,564       251,785  
Highwoods Properties, Inc.
     30,331       949,664  
Home Properties, Inc.(a)
     17,201       854,374  
Inland Real Estate Corp.
     33,161       275,236  
Invesco Mortgage Capital, Inc.
     11,442       232,845  
Investors Real Estate Trust(a)
     34,016       288,116  
iStar Financial, Inc.*(a)
     42,200       214,376  
Kilroy Realty Corp.(a)
     23,644       793,966  
Kite Realty Group Trust
     25,984       120,566  
LaSalle Hotel Properties
     30,702       728,251  
Lexington Realty Trust
     43,530       279,898  
LTC Properties, Inc.
     10,425       256,976  
Medical Properties Trust, Inc.(a)
     48,756       484,635  
MFA Financial, Inc.
     119,975       880,617  
Mid-America Apartment Communities, Inc. (a)
     12,737       719,386  
Mission West Properties, Inc.(a)
     10,804       76,276  
Monmouth Real Estate Investment Corp., Class A
     13,356       105,112  
MPG Office Trust, Inc.*(a)
     21,584       67,774  
National Health Investors, Inc.
     10,674       401,876  
National Retail Properties, Inc.(a)
     35,957       831,326  
Newcastle Investment Corp.*(a)
     29,167       77,584  
NorthStar Realty Finance Corp.(a)
     35,461       121,631  
Omega Healthcare Investors, Inc.(a)
     40,341       886,695  
One Liberty Properties, Inc.(a)
     4,293       66,799  
Parkway Properties, Inc.(a)
     10,085       168,520  
Pebblebrook Hotel Trust*
     14,432       263,961  
Pennsylvania Real Estate Investment Trust
    24,867       305,615  
Pennymac Mortgage Investment Trust *(a)
     6,850       113,368  
Post Properties, Inc.(a)
     21,410       545,527  
Potlatch Corp.
     17,305       641,323  
PS Business Parks, Inc.
     8,023       465,896  
RAIT Financial Trust*(a)
     37,475       74,950  
Ramco-Gershenson Properties Trust
     17,266       198,559  
Redwood Trust, Inc.(a)
     34,662       542,460  
Resource Capital Corp.
     20,106       122,647  
Retail Opportunity Investments Corp.
    18,769       184,312  
Saul Centers, Inc.(a)
     2,964       125,377  
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

15

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide Small Cap Index Fund
Common Stocks (continued)
                 
            Market  
    Shares     Value  
 
Real Estate Investment Trusts (REITs) (continued)
                
Sovran Self Storage, Inc.(a)
     12,138     $ 446,678  
Starwood Property Trust, Inc.
     21,366       379,460  
Strategic Hotels & Resorts, Inc.*
     62,466       287,968  
Sun Communities, Inc.(a)
     8,451       245,924  
Sunstone Hotel Investors, Inc.*
     43,795       451,964  
Tanger Factory Outlet Centers(a)
     17,546       784,306  
Terreno Realty Corp.*
     4,363       78,534  
Two Harbors Investment Corp.(a)
     12,444       104,903  
UMH Properties, Inc.
     5,855       67,215  
Universal Health Realty Income Trust
    5,173       172,157  
Urstadt Biddle Properties, Inc., Class A
     8,980       160,113  
U-Store-It Trust
     34,605       279,262  
Walter Investment Management Corp. (a)
     11,832       204,339  
Washington Real Estate Investment Trust
    26,420       801,847  
Winthrop Realty Trust(a)
     8,452       104,129  
 
              
 
             32,124,920  
 
              
Real Estate Management & Development 0.2%
                
Avatar Holdings, Inc.*(a)
     4,123       82,501  
Consolidated-Tomoka Land Co.(a)
     2,543       73,264  
Forestar Group, Inc.*
     16,175       260,579  
Kennedy-Wilson Holdings, Inc.*(a)
     9,807       97,384  
Tejon Ranch Co.*(a)
     5,979       137,756  
Thomas Properties Group, Inc.(a)
     16,429       59,966  
 
              
 
             711,450  
 
              
Road & Rail 1.1%
                
Amerco, Inc.*(a)
     3,792       258,501  
Arkansas Best Corp.
     11,266       254,274  
Avis Budget Group, Inc.*
     45,280       558,755  
Celadon Group, Inc.*
     8,972       140,322  
Dollar Thrifty Automotive Group, Inc. *
     12,612       628,960  
Genesee & Wyoming, Inc., Class A*
     17,025       695,982  
Heartland Express, Inc.
     21,984       352,184  
Knight Transportation, Inc.(a)
     25,896       541,744  
Marten Transport Ltd.*
     6,797       154,428  
Old Dominion Freight Line, Inc.*
     12,247       482,899  
Patriot Transportation Holding, Inc. *(a)
     702       53,317  
RailAmerica, Inc.*(a)
     10,438       115,966  
Roadrunner Transportation Systems, Inc. *
     5,043       74,485  
Saia, Inc.*(a)
     7,178       108,388  
USA Truck, Inc.*
     3,769       61,774  
Werner Enterprises, Inc.(a)
     18,795       432,849  
 
              
 
             4,914,828  
 
              
Semiconductors & Semiconductor Equipment 3.7%
                
Actel Corp.*
     9,719       142,481  
Advanced Analogic Technologies, Inc. *
     19,700       62,843  
Advanced Energy Industries, Inc.*
     16,266       286,444  
Amkor Technology, Inc.*(a)
     46,546       268,570  
Anadigics, Inc.*
     29,320       128,715  
Applied Micro Circuits Corp.*(a)
     28,875       345,345  
ATMI, Inc.*
     13,943       206,914  
Axcelis Technologies, Inc.*(a)
     47,062       78,594  
AXT, Inc.*(a)
     14,133       83,243  
Brooks Automation, Inc.*
     28,933       220,759  
Cabot Microelectronics Corp.*(a)
     10,321       337,393  
Cavium Networks, Inc.*(a)
     19,498       523,131  
Ceva, Inc.*
     9,429       120,408  
Cirrus Logic, Inc.*(a)
     28,233       550,543  
Cohu, Inc.
     10,651       167,008  
Conexant Systems, Inc.*(a)
     35,549       73,231  
Cymer, Inc.*(a)
     13,163       438,065  
Diodes, Inc.*(a)
     14,964       264,564  
DSP Group, Inc.*
     10,565       73,744  
Energy Conversion Devices, Inc. *(a)
     21,158       102,405  
Entegris, Inc.*
     58,285       268,694  
Entropic Communications, Inc.*
     24,755       193,832  
Evergreen Solar, Inc.*(a)
     89,934       59,356  
Exar Corp.*
     16,164       112,986  
FEI Co.*
     16,803       328,667  
FormFactor, Inc.*(a)
     22,275       215,622  
FSI International, Inc.*(a)
     15,840       56,074  
GSI Technology, Inc.*(a)
     8,900       60,520  
GT Solar International, Inc.*(a)
     27,686       179,405  
Hittite Microwave Corp.*
     11,951       549,268  
Integrated Device Technology, Inc. *
     71,447       415,107  
Integrated Silicon Solution, Inc.*
     11,348       97,593  
IXYS Corp.*(a)
     10,713       94,596  
Kopin Corp.*
     30,168       113,733  
Kulicke & Soffa Industries, Inc.*
     31,132       209,207  
Lattice Semiconductor Corp.*
     51,608       286,940  
LTX-Credence Corp.*(a)
     65,850       184,380  
Mattson Technology, Inc.*(a)
     22,362       65,521  
MaxLinear, Inc., Class A*
     3,300       41,283  
Micrel, Inc.
     22,402       217,747  
Microsemi Corp.*
     36,390       580,784  
Microtune, Inc.*(a)
     25,019       59,795  
Mindspeed Technologies, Inc.*(a)
     14,476       102,345  
MIPS Technologies, Inc.*
     20,539       111,938  
MKS Instruments, Inc.*
     22,180       475,983  
Monolithic Power Systems, Inc.*
     14,282       251,649  
MoSys, Inc.*(a)
     12,740       57,840  
Nanometrics, Inc.*(a)
     7,948       72,565  
Netlogic Microsystems, Inc.*(a)
     27,529       813,757  
NVE Corp.*
     2,125       91,311  
OmniVision Technologies, Inc.*
     22,838       509,516  
PDF Solutions, Inc.*(a)
     10,579       43,374  
Pericom Semiconductor Corp.*
     11,422       104,397  
Photronics, Inc.*(a)
     23,681       107,038  
PLX Technology, Inc.*
     16,856       64,390  
Power Integrations, Inc.(a)
     10,792       381,497  
RF Micro Devices, Inc.*
     118,151       492,690  
Rubicon Technology, Inc.*(a)
     6,715       203,129  
Rudolph Technologies, Inc.*
     14,266       123,258  
Semtech Corp.*
     27,107       471,120  
Sigma Designs, Inc.*(a)
     13,666       139,940  
Silicon Image, Inc.*
     33,806       144,014  
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

16

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide Small Cap Index Fund
Common Stocks (continued)
                 
            Market  
    Shares     Value  
 
Semiconductors & Semiconductor Equipment (continued)
                
Spansion, Inc., Class A*
     5,545     $ 93,267  
Standard Microsystems Corp.*
     9,971       219,561  
Supertex, Inc.*(a)
     4,367       113,280  
Tessera Technologies, Inc.*
     22,041       374,256  
Trident Microsystems, Inc.*
     33,816       60,531  
TriQuint Semiconductor, Inc.*
     68,158       472,335  
Ultra Clean Holdings, Inc.*(a)
     9,716       105,224  
Ultratech, Inc.*
     10,815       195,427  
Veeco Instruments, Inc.*(a)
     17,827       771,909  
Virage Logic Corp.*
     10,249       122,476  
Volterra Semiconductor Corp.*
     10,918       245,873  
Zoran Corp.*
     22,382       192,485  
 
              
 
             16,593,885  
 
              
Software 4.0%
                
ACI Worldwide, Inc.*
     15,020       291,388  
Actuate Corp.*
     20,658       98,332  
Advent Software, Inc.*(a)
     6,934       355,437  
American Software, Inc., Class A (a)
     10,564       53,031  
ArcSight, Inc.*(a)
     10,883       272,184  
Ariba, Inc.*
     39,620       632,731  
Aspen Technology, Inc.*
     27,590       301,559  
Blackbaud, Inc.(a)
     19,752       467,925  
Blackboard, Inc.*(a)
     14,987       569,056  
Bottomline Technologies, Inc.*
     13,325       188,815  
CDC Corp., Class A*
     38,366       76,732  
CommVault Systems, Inc.*(a)
     19,048       352,769  
Concur Technologies, Inc.*
     17,664       817,490  
Deltek, Inc.*
     9,431       70,732  
DemandTec, Inc.*(a)
     8,800       59,224  
Digimarc Corp.*(a)
     3,169       65,472  
Ebix, Inc.*(a)
     12,001       199,337  
Epicor Software Corp.*
     21,904       169,537  
EPIQ Systems, Inc.
     14,578       189,806  
Fair Isaac Corp.
     20,096       479,290  
Fortinet, Inc.*(a)
     17,501       315,193  
Interactive Intelligence, Inc.*(a)
     5,798       93,812  
Jack Henry & Associates, Inc.
     37,383       949,528  
JDA Software Group, Inc.*(a)
     18,375       431,813  
Kenexa Corp.*
     10,141       121,996  
Lawson Software, Inc.*
     61,124       487,158  
Magma Design Automation, Inc.*(a)
     23,156       75,025  
Manhattan Associates, Inc.*
     10,023       269,218  
Mentor Graphics Corp.*
     47,171       453,785  
MicroStrategy, Inc., Class A*
     3,952       327,976  
Monotype Imaging Holdings, Inc.*
     10,142       84,381  
Netscout Systems, Inc.*
     13,629       216,020  
NetSuite, Inc.*(a)
     8,303       123,217  
Opnet Technologies, Inc.
     5,962       90,861  
Parametric Technology Corp.*
     50,969       914,384  
Pegasystems, Inc.(a)
     7,135       219,473  
Progress Software Corp.*
     18,504       553,270  
PROS Holdings, Inc.*(a)
     8,747       61,841  
Quest Software, Inc.*
     26,241       529,019  
Radiant Systems, Inc.*(a)
     12,965       184,233  
Renaissance Learning, Inc.
     6,143       85,388  
Rosetta Stone, Inc.*
     4,737       101,514  
S1 Corp.*
     22,952       134,728  
Smith Micro Software, Inc.*
     13,787       135,526  
SolarWinds, Inc.*(a)
     15,384       212,607  
Sonic Solutions, Inc.*(a)
     11,212       88,238  
Sourcefire, Inc.*(a)
     12,206       260,476  
SRS Labs, Inc.*
     5,678       52,805  
SS&C Technologies Holdings, Inc.*
     5,559       95,059  
SuccessFactors, Inc.*(a)
     27,772       564,049  
Synchronoss Technologies, Inc.*(a)
     9,161       178,548  
Take-Two Interactive Software, Inc. *(a)
     31,066       318,426  
Taleo Corp., Class A*(a)
     17,577       432,394  
TeleCommunication Systems, Inc., Class A *
     20,914       75,081  
THQ, Inc.*(a)
     29,665       135,272  
TIBCO Software, Inc.*
     71,992       976,212  
TiVo, Inc.*
     51,154       438,901  
Tyler Technologies, Inc.*(a)
     13,659       224,417  
Ultimate Software Group, Inc.*(a)
     11,006       355,054  
Unica Corp.*
     7,653       68,265  
VASCO Data Security International, Inc. *(a)
     12,603       80,281  
VirnetX Holding Corp.(a)
     14,465       88,960  
Wave Systems Corp., Class A*(a)
     36,906       119,575  
Websense, Inc.*(a)
     19,027       353,141  
 
              
 
             17,787,967  
 
              
Specialty Retail 3.2%
                
America’s Car-Mart, Inc.*
     4,685       109,067  
AnnTaylor Stores Corp.*
     25,863       453,637  
Asbury Automotive Group, Inc.*
     13,131       176,743  
Barnes & Noble, Inc.(a)
     17,028       220,853  
Bebe Stores, Inc.(a)
     15,079       89,720  
Big 5 Sporting Goods Corp.
     9,986       137,208  
Borders Group, Inc.*
     19,948       26,531  
Brown Shoe Co., Inc.
     19,335       282,678  
Buckle, Inc. (The)(a)
     11,419       314,593  
Build-A-Bear Workshop, Inc.*(a)
     7,809       47,244  
Cabela’s, Inc.*(a)
     17,789       277,331  
Casual Male Retail Group, Inc.*(a)
     19,051       65,916  
Cato Corp. (The), Class A(a)
     12,328       286,996  
Charming Shoppes, Inc.*(a)
     51,982       232,879  
Childrens Place Retail Stores, Inc. (The)*(a)
     12,182       509,817  
Christopher & Banks Corp.
     16,475       121,750  
Citi Trends, Inc.*
     6,649       208,712  
Coldwater Creek, Inc.*(a)
     26,023       102,010  
Collective Brands, Inc.*(a)
     28,498       456,538  
Destination Maternity Corp.*
     2,400       74,280  
Dress Barn, Inc.*
     26,112       644,966  
DSW, Inc., Class A*(a)
     6,354       169,080  
Express, Inc.*
     7,150       125,483  
Finish Line, Inc. (The), Class A
     22,518       322,233  
Genesco, Inc.*
     10,626       289,984  
Group 1 Automotive, Inc.*(a)
     10,853       300,845  
Gymboree Corp.*(a)
     12,991       562,510  
Haverty Furniture Cos., Inc.
     8,498       102,996  
hhgregg, Inc.*(a)
     5,952       120,766  
Hibbett Sports, Inc.*(a)
     12,774       338,128  
HOT Topic, Inc.(a)
     20,458       108,223  
Jo-Ann Stores, Inc.*
     12,071       505,654  
Jos. A. Bank Clothiers, Inc.*(a)
     8,073       473,724  
Kirkland’s, Inc.*
     7,662       129,181  
Lithia Motors, Inc., Class A(a)
     9,317       81,990  
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

17

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide Small Cap Index Fund
Common Stocks (continued)
                 
            Market  
    Shares     Value  
 
Specialty Retail (continued)
                
Lumber Liquidators Holdings, Inc. *(a)
     9,871     $ 244,998  
MarineMax, Inc.*(a)
     9,938       75,529  
Men’s Wearhouse, Inc. (The)(a)
     23,118       449,876  
Midas, Inc.*(a)
     6,955       61,204  
Monro Muffler Brake, Inc.(a)
     8,743       358,813  
OfficeMax, Inc.*
     36,883       527,058  
Pacific Sunwear Of California*(a)
     30,229       122,125  
Penske Automotive Group, Inc.*(a)
     19,723       276,122  
PEP Boys-Manny Moe & Jack(a)
     23,524       225,830  
Pier 1 Imports, Inc.*(a)
     46,211       323,015  
Rent-A-Center, Inc.*
     29,031       638,392  
Rue21, Inc.*(a)
     6,576       199,450  
Sally Beauty Holdings, Inc.*(a)
     41,888       396,261  
Select Comfort Corp.*(a)
     24,343       189,875  
Shoe Carnival, Inc.*
     4,180       87,989  
Sonic Automotive, Inc., Class A*
     17,920       177,229  
Stage Stores, Inc.
     17,360       190,960  
Stein Mart, Inc.*
     11,699       90,316  
Systemax, Inc.(a)
     4,805       78,610  
Talbots, Inc.*(a)
     30,920       355,271  
Ulta Salon Cosmetics & Fragrance, Inc. *
     13,905       351,240  
Vitamin Shoppe, Inc.*(a)
     7,132       194,846  
West Marine, Inc.*
     6,900       71,622  
Wet Seal, Inc. (The), Class A*
     45,448       153,614  
Zumiez, Inc.*
     9,275       169,733  
 
              
 
             14,480,244  
 
              
Textiles, Apparel & Luxury Goods 2.0%
                
Carter’s, Inc.*
     26,154       633,973  
Cherokee, Inc.(a)
     3,948       77,499  
Columbia Sportswear Co.
     5,112       250,539  
CROCS, Inc.*
     38,025       487,861  
Culp, Inc.*(a)
     4,134       43,076  
Deckers Outdoor Corp.*(a)
     17,011       865,690  
G-III Apparel Group Ltd.*(a)
     7,032       181,426  
Iconix Brand Group, Inc.*(a)
     32,090       528,201  
Joe’s Jeans, Inc.*(a)
     19,835       38,083  
Jones Apparel Group, Inc.
     37,990       662,546  
K-Swiss, Inc., Class A*
     12,085       144,416  
Liz Claiborne, Inc.*(a)
     42,253       200,279  
Maidenform Brands, Inc.*
     10,273       255,079  
Movado Group, Inc.*(a)
     6,937       78,804  
Oxford Industries, Inc.
     6,229       139,530  
Perry Ellis International, Inc.*
     4,420       98,964  
Quiksilver, Inc.*(a)
     57,989       259,211  
RG Barry Corp.(a)
     4,300       50,955  
Skechers U.S.A., Inc., Class A*
     14,947       554,384  
Steven Madden Ltd.*
     10,896       420,912  
Timberland Co. (The), Class A*
     18,420       324,560  
True Religion Apparel, Inc.*
     11,306       277,901  
Under Armour, Inc., Class A*(a)
     15,492       581,880  
Unifi, Inc.*
     19,300       75,656  
Volcom, Inc.*(a)
     8,756       142,460  
Warnaco Group, Inc. (The)*
     19,545       816,395  
Weyco Group, Inc.(a)
     3,447       87,209  
Wolverine World Wide, Inc.(a)
     21,909       626,378  
 
              
 
             8,903,867  
 
              
Thrifts & Mortgage Finance 1.5%
                
Abington Bancorp, Inc.
     9,919       94,627  
Astoria Financial Corp.(a)
     37,664       498,671  
Bank Mutual Corp.(a)
     20,760       122,069  
BankFinancial Corp.(a)
     9,437       83,801  
Beneficial Mutual Bancorp, Inc. *(a)
     15,297       154,347  
Berkshire Hills Bancorp, Inc.
     6,303       127,258  
BofI Holding, Inc.*(a)
     3,491       54,529  
Brookline Bancorp, Inc.
     26,082       252,474  
Dime Community Bancshares
     12,105       158,575  
ESB Financial Corp.(a)
     4,271       60,349  
ESSA Bancorp, Inc.(a)
     7,062       89,829  
Federal Agricultural Mortgage Corp., Class C
     4,272       63,824  
First Financial Holdings, Inc.(a)
     7,840       98,627  
Flagstar Bancorp, Inc.*(a)
     21,812       70,016  
Flushing Financial Corp.
     14,016       174,779  
Home Federal Bancorp, Inc.
     7,828       102,155  
Kearny Financial Corp.
     6,788       63,739  
Meridian Interstate Bancorp, Inc.*(a)
     4,300       46,526  
MGIC Investment Corp.*(a)
     88,218       757,793  
NewAlliance Bancshares, Inc.
     45,863       558,153  
Northwest Bancshares, Inc.
     48,181       584,435  
OceanFirst Financial Corp.(a)
     6,558       83,024  
Ocwen Financial Corp.*
     32,529       343,506  
Oritani Financial Corp.(a)
     24,687       246,870  
PMI Group, Inc. (The)*
     63,227       197,900  
Provident Financial Services, Inc.
     26,310       337,031  
Provident New York Bancorp(a)
     17,675       164,024  
Radian Group, Inc.
     58,676       504,614  
Rockville Financial, Inc.(a)
     3,600       45,612  
Roma Financial Corp.(a)
     4,060       46,325  
Territorial Bancorp, Inc.
     5,693       103,670  
Trustco Bank Corp.
     34,180       198,928  
United Financial Bancorp, Inc.
     7,948       118,346  
ViewPoint Financial Group
     6,850       66,445  
Westfield Financial, Inc.
     13,728       112,707  
WSFS Financial Corp.(a)
     2,246       85,348  
 
              
 
             6,870,926  
 
              
Tobacco 0.2%
                
Alliance One International, Inc.*(a)
     40,343       152,093  
Star Scientific, Inc.*(a)
     44,515       95,262  
Universal Corp.
     10,527       466,873  
Vector Group Ltd.(a)
     18,719       354,725  
 
              
 
             1,068,953  
 
              
Trading Companies & Distributors 0.9%
                
Aceto Corp.
     12,129       82,720  
Aircastle Ltd.
     22,773       208,145  
Applied Industrial Technologies, Inc.
    18,582       520,296  
Beacon Roofing Supply, Inc.*
     20,129       343,401  
CAI International, Inc.*(a)
     4,640       60,645  
DXP Enterprises, Inc.*
     3,813       78,281  
H&E Equipment Services, Inc.*
     12,919       112,395  
Houston Wire & Cable Co.(a)
     8,327       100,507  
Interline Brands, Inc.*
     14,769       267,171  
Kaman Corp.
     11,508       262,843  
RSC Holdings, Inc.*
     22,165       173,330  
Rush Enterprises, Inc., Class A*
     14,501       216,645  
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

18

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide Small Cap Index Fund
Common Stocks (continued)
                 
            Market  
    Shares     Value  
 
Trading Companies & Distributors (continued)
                
TAL International Group, Inc.(a)
     7,476     $ 201,404  
Textainer Group Holdings Ltd.(a)
     4,291       117,144  
Titan Machinery, Inc.*
     5,900       84,193  
United Rentals, Inc.*(a)
     26,735       352,367  
Watsco, Inc.(a)
     12,133       675,929  
 
              
 
             3,857,416  
 
              
Water Utilities 0.3%
                
American States Water Co.(a)
     7,986       281,746  
Artesian Resources Corp., Class A (a)
     3,624       66,319  
Cadiz, Inc.*(a)
     6,034       79,589  
California Water Service Group
     8,437       299,935  
Connecticut Water Service, Inc.
     4,236       98,275  
Consolidated Water Co. Ltd.(a)
     7,038       84,738  
Middlesex Water Co.
     6,635       109,809  
SJW Corp.
     5,745       142,993  
Southwest Water Co.
     12,808       138,967  
York Water Co. (The)(a)
     6,345       93,969  
 
              
 
             1,396,340  
 
              
Wireless Telecommunication Services 0.3%
                
FiberTower Corp.*(a)
     20,575       98,143  
ICO Global Communications Holdings Ltd.*
     39,533       75,113  
NTELOS Holdings Corp.
     12,860       240,610  
Shenandoah Telecommunications Co.
    10,471       203,975  
Syniverse Holdings, Inc.*
     30,311       676,845  
USA Mobility, Inc.
     9,867       146,327  
 
              
 
             1,441,013  
 
              
 
                
Total Common Stocks
(cost $452,365,905)
             435,021,924  
 
              
Warrant 0.0%
                 
    Number of     Market  
    Warrants     Value  
 
Oil, Gas & Consumable Fuels 0.0%
                
Greenhunter Energy, Inc., expiring 9/16/2011*(b)
     120       0  
 
              
Total Warrant
(cost $—)
             0  
 
              
Mutual Fund 2.7%
                 
            Market  
    Shares     Value  
Money Market Fund 2.7%
                
Invesco Liquid Assets Portfolio — Institutional Class, 0.26% (c)
     12,226,624       12,226,624  
 
              
Total Mutual Fund
(cost $12,226,624)
             12,226,624  
 
              
Repurchase Agreements 29.3%
                 
    Principal     Market  
    Amount     Value  
 
Barclays Capital, 0.21%, dated 07/30/2010, due 08/02/2010, repurchase price $50,000,875, collateralized by U.S. Treasury Securities from 1.00% — 3.25%, maturing 07/31/11— 03/31/17; total market value $51,000,002. (d)
   $ 50,000,000     $ 50,000,000  
Goldman Sachs & Co., 0.21%, dated 07/30/2010, due 08/02/2010, repurchase price $37,850,524, collateralized by U.S. Government Agency Mortgages from 0.00% — 14.00%, maturing 09/15/10—07/20/60; total market value $38,606,859. (d)
     37,849,862       37,849,862  
Morgan Stanley, 0.21%, dated 07/30/2010, due 08/02/2010, repurchase price $43,772,598, collateralized by U.S. Government Agency Mortgages ranging from 3.50% — 6.00%, maturing 05/01/22 — 06/01/40; total market value $44,647,269. (d)
     43,771,832       43,771,832  
 
              
 
                
Total Repurchase Agreements
(cost $131,621,694)
             131,621,694  
 
              
 
                
Total Investments
(cost $596,214,223) (e) — 129.0%
             578,870,242  
 
                
Liabilities in excess of other assets — (29.0%)
             (130,110,027 )
 
              
 
                
NET ASSETS — 100.0%
           $ 448,760,215  
 
              
 
*   Denotes a non-income producing security.
 
(a)   The security or a portion of this security is on loan at July 31, 2010. The total value of securities on loan at July 31, 2010 was $127,764,703.
 
(b)   Fair Valued Security.
 
(c)   Represents 7-day effective yield as of July 31, 2010.
 
(d)   The security was purchased with cash collateral held from securities on loan. The total value of this security as of July 31, 2010 was $131,621,694.
 
(e)   At July 31, 2010, the tax basis cost of the Fund’s investments was $602,220,608, tax unrealized appreciation and depreciation were $48,615,194 and $(71,965,560), respectively.
 
†   Amount rounds to less than 0.1%.
 
Ltd.   Limited
 
NV   Public Traded Company
 
PLC   Public Limited Company
 
REIT   Real Estate Investment Trust
 
SA   Stock Company
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

19

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide Small Cap Index Fund
At July 31, 2010, the Fund’s open futures contracts were as follows:
                                 
Number               Notional Value    
of               Covered by   Unrealized
Contracts   Long Contracts   Expiration   Contracts   Appreciation
 
  212    
E-mini Russell 2000 Index
     09/17/10     $ 13,771,520     $ 345,034  
In accordance with the authorative guidance on fair value measurements and disclosures under GAAP, the Fund discloses the fair value of its investments in a hierarchy that prioritizes the inputs to valuation techniques used to measure the fair value. This standard defines fair value, sets out a framework for measuring fair value and expands disclosures about fair value measurements. The hierarchy gives the highest priority to readily available unadjusted quoted prices in active markets for identical assets (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements) when market prices are not readily available or reliable. The three levels of the hierarchy established are summarized below:
     
Level 1:
  Quoted prices in active markets for identical assets.
 
Level 2:
  Other significant observable inputs (including quoted prices of similar securities, interest rates, prepayment speeds, credit risk, etc).
 
Level 3:
  Significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments).
Changes in valuation techniques may result in transfers in or out of an investment’s assigned level within the hierarchy.
The inputs or methodology used to value securities and other investments are not intended to indicate the risk associated with investing in those securities and investments.
The following is a summary of the inputs used to value the Fund’s net assets as of July 31, 2010:
                                 
Asset Type*   Level 1   Level 2   Level 3   Total
 
Assets:
                                
Common Stocks
   $ 435,021,924     $ —     $ —     $ 435,021,924  
Futures Contracts
     345,034       —       —       345,034  
Mutual Fund
     12,226,624       —       —       12,226,624  
Repurchase Agreements
     —       131,621,694       —       131,621,694  
Warrant
     —       —       —       —  
 
Total
   $ 447,593,582     $ 131,621,694     $ —     $ 579,215,276  
 
*   See Statement of Investments for identification of securities by type and industry classification.
The following is a reconciliation of Level 3 assets for which significant unobservable inputs were used to determine fair value:
                         
    Common Stocks   Warrants   Total
 
Balance as of 10/31/09
   $ —     $ —     $ —  
 
Accrued Accretion/(Amortization)
     —       —       —  
 
Change in Unrealized Appreciation/(Depreciation)
     —       —       —  
 
Net Purchases/(Sales)
     —       —       —  
 
Transfers Into Level 3
     —       —       —  
 
Transfers Out of Level 3
     —       —       —  
 
Balance as of 07/31/2010
   $ —     $ —     $ —  
 
Amounts designated as “—” , which may include fair valued securities, are zero or have been rounded to zero.
For the period ended July 31, 2010 there were no significant transfers between Levels 1 and 2.
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

20

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide Small Cap Index Fund
The Fund is subject to the guidance on disclosures about derivative instruments and hedging activities. The guidance requires enhanced disclosure about an entity’s derivative and hedging activities.
The following is a summary of the Fund’s derivative instruments categorized by risk exposure as of July 31, 2010. Please see below for information on the Fund’s policy regarding the objectives and strategies for using futures contracts.
Futures Contracts
The Fund is subject to equity price risk in the normal course of pursuing its investment objective. The Fund may enter into financial futures contracts (“futures contracts”) to gain exposure to, or hedge against changes in, the value of equities. The Fund may also enter into futures contracts for non-hedging purposes; however, in those instances, the aggregate initial margin and premiums required to enter into and maintain futures contracts may not exceed 5% of the Fund’s NAV after taking into account unrealized gains and unrealized losses on such futures contracts.
Should market conditions change unexpectedly, the Fund may not achieve the anticipated benefits of futures contracts and may realize a loss. The use of futures contracts for hedging purposes involves the risk of imperfect correlation in the movements in the price of the futures contracts and the underlying assets. Futures contracts involve minimal counterparty credit risk to the Fund because futures contracts are exchange-traded, and the exchange’s clearinghouse, as counterparty to all exchange-traded futures contracts, guarantees futures contracts against default.
Fair Values of Derivative Instruments as of July 31, 2010
     Derivatives not accounted for as hedging instruments
             
        Fair Value  
 
Assets:  
 
        
Futures — Equity contracts  
Net Assets — Unrealized appreciation from futures contracts
     345,034  
   
 
      
Total  
 
   $ 345,034  
   
 
      
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

21

 

Statement of Investments
July 31, 2010 (Unaudited)
Nationwide Investor Destinations Aggressive Fund
Mutual Funds 100.1%
                 
            Market  
    Shares     Value  
 
Equity Funds 94.8%
                
Nationwide International Index Fund, Institutional Class (a)
     40,258,387     $ 268,120,856  
Nationwide Mid Cap Market Index Fund, Institutional Class (a)
     11,553,229       145,686,220  
Nationwide S&P 500 Index Fund, Institutional Class (a)
     39,790,575       368,858,625  
Nationwide Small Cap Index Fund, Institutional Class (a)
     9,767,426       97,478,916  
 
              
Total Equity Funds (cost $1,022,985,469)
             880,144,617  
 
              
 
Fixed Income Fund 5.3%
                
Nationwide Bond Index Fund, Institutional Class (a)
     4,270,423       49,067,160  
 
              
Total Fixed Income Fund (cost $46,416,749)
             49,067,160  
 
              
 
                
Total Mutual Funds (cost $1,069,402,218)
             929,211,777  
 
              
 
                
Total Investments
(cost $1,069,402,218) (b) — 100.1%
             929,211,777  
 
                
Liabilities in excess of other assets — (0.1)%
             (691,430 )
 
              
NET ASSETS — 100.0%
           $ 928,520,347  
 
              
 
(a)   Investment in affiliate.
 
(b)   At July 31, 2010, the tax basis cost of the Fund’s investments was $1,096,520,463, tax unrealized appreciation and depreciation were $2,156,399 and $(169,465,085), respectively.
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

1

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide Investor Destinations Aggressive Fund
In accordance with the authorative guidance on fair value measurements and disclosures under GAAP, the Fund discloses the fair value of its investments in a hierarchy that prioritizes the inputs to valuation techniques used to measure the fair value. This standard defines fair value, sets out a framework for measuring fair value and expands disclosures about fair value measurements. The hierarchy gives the highest priority to readily available unadjusted quoted prices in active markets for identical assets (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements) when market prices are not readily available or reliable. The three levels of the hierarchy established are summarized below:
Level 1:   Quoted prices in active markets for identical assets.
 
Level 2:   Other significant observable inputs (including quoted prices of similar securities, interest rates, prepayment speeds, credit risk, etc).
 
Level 3:   Significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments).
Changes in valuation techniques may result in transfers in or out of an investment’s assigned level within the hierarchy.
The inputs or methodology used to value securities and other investments are not intended to indicate the risk associated with investing in those securities and investments.
The following is a summary of the inputs used to value the Fund’s net assets as of July 31, 2010:
                                 
Asset Type*   Level 1   Level 2   Level 3   Total
 
Assets:
                                
Mutual Funds
   $ 929,211,777     $ —     $ —     $ 929,211,777  
 
Total
   $ 929,211,777     $ —     $ —     $ 929,211,777  
 
Amounts designated as “—” are zero or have been rounded to zero.
 
*   See Statement of Investments for identification of fund investments by type and classification.
For the period ended July 31, 2010 there were no significant transfers between Levels 1 and 2.
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

2

 

Statement of Investments
July 31, 2010 (Unaudited)
Nationwide Investor Destinations Moderately Aggressive Fund
Mutual Funds 97.6%
                 
            Market  
    Shares     Value  
 
Equity Funds 79.3%
                
Nationwide International Index Fund, Institutional Class (a)
     56,181,920     $ 374,171,585  
Nationwide Mid Cap Market Index Fund, Institutional Class (a)
     19,346,283       243,956,631  
Nationwide S&P 500 Index Fund, Institutional Class (a)
     58,289,784       540,346,294  
Nationwide Small Cap Index Fund, Institutional Class (a)
     8,152,247       81,359,429  
 
              
Total Equity Funds (cost $1,411,534,028)
             1,239,833,939  
 
              
 
Fixed Income Funds 18.3%
                
Nationwide Bond Index Fund, Institutional Class (a)
     21,464,624       246,628,534  
Nationwide Enhanced Income Fund, Institutional Class (a)
     4,426,014       40,232,464  
 
              
Total Fixed Income Funds (cost $273,448,664)
             286,860,998  
 
              
 
                
Total Mutual Funds (cost $1,684,982,692)
             1,526,694,937  
 
              
Fixed Contract 2.5%
                 
    Principal     Market  
    Amount     Value  
 
Nationwide Fixed Contract, 3.60%(a)(b)
   $ 38,588,353       38,588,353  
 
              
Total Fixed Contract (cost $38,588,353)
             38,588,353  
 
              
 
                
Total Investments
(cost $1,723,571,045) (c) — 100.1%
             1,565,283,290  
 
                
Liabilities in excess of other assets — (0.1)%
             (822,343 )
 
              
 
                
NET ASSETS — 100.0%
           $ 1,564,460,947  
 
              
 
(a)   Investment in affiliate.
 
(b)   The Nationwide Fixed Contract rate changes quarterly. The security is restricted and as the affiliated counterparty is required by contract to redeem within five days upon request, it has been deemed liquid pursuant to procedures approved by the Board of Trustees.
 
(c)   At July 31, 2010, the tax basis cost of the Fund’s investments was $1,759,498,820, tax unrealized appreciation and depreciation were $11,015,749 and $(205,231,279), respectively.
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

1

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide Investor Destinations Moderately Aggressive Fund
In accordance with the authorative guidance on fair value measurements and disclosures under GAAP, the Fund discloses the fair value of its investments in a hierarchy that prioritizes the inputs to valuation techniques used to measure the fair value. This standard defines fair value, sets out a framework for measuring fair value and expands disclosures about fair value measurements. The hierarchy gives the highest priority to readily available unadjusted quoted prices in active markets for identical assets (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements) when market prices are not readily available or reliable. The three levels of the hierarchy established are summarized below:
Level 1:   Quoted prices in active markets for identical assets.
 
Level 2:   Other significant observable inputs (including quoted prices of similar securities, interest rates, prepayment speeds, credit risk, etc).
 
Level 3:   Significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments).
Changes in valuation techniques may result in transfers in or out of an investment’s assigned level within the hierarchy.
The inputs or methodology used to value securities and other investments are not intended to indicate the risk associated with investing in those securities and investments.
The following is a summary of the inputs used to value the Fund’s net assets as of July 31, 2010:
                                 
Asset Type*   Level 1   Level 2   Level 3   Total
 
Assets:
                                
Fixed Contract
   $ —     $ 38,588,353     $ —     $ 38,588,353  
Mutual Funds
   1,526,694,937     —     —     1,526,694,937  
 
Total
   $ 1,526,694,937     $ 38,588,353     $ —     $ 1,565,283,290  
 
Amounts designated as “—” are zero or have been rounded to zero.
 
*   See Statement of Investments for identification of fund investments by type and classification.
For the period ended July 31, 2010 there were no significant transfers between Levels 1 and 2.
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

2

 

Statement of Investments
July 31, 2010 (Unaudited)
Nationwide Investor Destinations Moderate Fund
Mutual Funds 94.1%
                 
            Market  
    Shares     Value  
 
Equity Funds 59.0%
                
Nationwide International Index Fund, Institutional Class (a)
     29,303,521     $ 195,161,453  
Nationwide Mid Cap Market Index Fund, Institutional Class (a)
     11,198,511       141,213,228  
Nationwide S&P 500 Index Fund, Institutional Class (a)
     43,412,386       402,432,823  
Nationwide Small Cap Index Fund, Institutional Class (a)
     7,089,582       70,754,024  
 
              
Total Equity Funds (cost $888,541,924)
             809,561,528  
 
              
 
Fixed Income Funds 33.1%
                
Nationwide Bond Index Fund, Institutional Class (a)
     31,065,425       356,941,728  
Nationwide Enhanced Income Fund, Institutional Class (a)
     10,678,455       97,067,155  
 
              
Total Fixed Income Funds (cost $434,405,192)
             454,008,883  
 
              
 
Money Market Fund 2.0%
                
Nationwide Money Market Fund, Institutional Class, 0.00% (a)(b)
     27,054,377       27,054,377  
 
              
Total Money Market Fund (cost $27,054,377)
             27,054,377  
 
              
 
                
Total Mutual Funds (cost $1,350,001,493)
             1,290,624,788  
 
              
Fixed Contract 5.9%
                 
    Principal     Market  
    Amount     Value  
 
Nationwide Fixed Contract, 3.60%(a)(c)
  $ 80,525,772       80,525,772  
 
              
Total Fixed Contract (cost $80,525,772)
             80,525,772  
 
              
 
                
Total Investments
(cost $1,430,527,265) (d) — 100.0%
             1,371,150,560  
 
                
Other assets in excess of liabilities — 0.0%
             126,264  
 
              
 
                
NET ASSETS — 100.0%
           $ 1,371,276,824  
 
              
 
(a)   Investment in affiliate.
 
(b)   Represents 7-day effective yield as of July 31, 2010.
 
(c)   The Nationwide Fixed Contract rate changes quarterly. The security is restricted and as the affiliated counterparty is required by contract to redeem within five days upon request, it has been deemed liquid pursuant to procedures approved by the Board of Trustees.
 
(d)   At July 31, 2010, the tax basis cost of the Fund’s investments was $1,462,145,075, tax unrealized appreciation and depreciation were $13,587,170 and $(104,581,685), respectively.
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

1

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide Investor Destinations Moderate Fund
In accordance with the authorative guidance on fair value measurements and disclosures under GAAP, the Fund discloses the fair value of its investments in a hierarchy that prioritizes the inputs to valuation techniques used to measure the fair value. This standard defines fair value, sets out a framework for measuring fair value and expands disclosures about fair value measurements. The hierarchy gives the highest priority to readily available unadjusted quoted prices in active markets for identical assets (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements) when market prices are not readily available or reliable. The three levels of the hierarchy established are summarized below:
Level 1:   Quoted prices in active markets for identical assets.
 
Level 2:   Other significant observable inputs (including quoted prices of similar securities, interest rates, prepayment speeds, credit risk, etc).
 
Level 3:   Significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments).
Changes in valuation techniques may result in transfers in or out of an investment’s assigned level within the hierarchy.
The inputs or methodology used to value securities and other investments are not intended to indicate the risk associated with investing in those securities and investments.
The following is a summary of the inputs used to value the Fund’s net assets as of July 31, 2010:
                                 
Asset Type*   Level 1   Level 2   Level 3   Total
 
Assets:
                                
Fixed Contract
   $ —     $ 80,525,772     $ —     $ 80,525,772  
Mutual Funds
   1,290,624,788     —     —     1,290,624,788  
 
Total
   $ 1,290,624,788     $ 80,525,772     $ —     $ 1,371,150,560  
 
Amounts designated as “—” are zero or have been rounded to zero.
 
*   See Statement of Investments for identification of fund investments by type and classification.
For the period ended July 31, 2010 there were no significant transfers between Levels 1 and 2.
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

2

 

Statement of Investments
July 31, 2010 (Unaudited)
Nationwide Investor Destinations Moderately Conservative Fund
Mutual Funds 89.7%
                 
            Market  
    Shares     Value  
 
Equity Funds 39.1%
                
Nationwide International Index Fund, Institutional Class (a)
     6,523,613     $ 43,447,263  
Nationwide Mid Cap Market Index Fund, Institutional Class (a)
     3,725,854       46,983,018  
Nationwide S&P 500 Index Fund, Institutional Class (a)
     9,649,681       89,452,543  
 
              
Total Equity Funds (cost $185,534,569)
             179,882,824  
 
              
 
Fixed Income Funds 46.5%
                
Nationwide Bond Index Fund, Institutional Class (a)
     14,488,424       166,471,987  
Nationwide Enhanced Income Fund, Institutional Class (a)
     5,263,115       47,841,717  
 
              
Total Fixed Income Funds (cost $205,687,156)
             214,313,704  
 
              
 
Money Market Fund 4.1%
                
Nationwide Money Market Fund, Institutional Class, 0.00% (a)(b)
     18,819,782       18,819,782  
 
              
Total Money Market Fund (cost $18,819,783)
             18,819,782  
 
              
 
                
Total Mutual Funds (cost $410,041,508)
             413,016,310  
 
              
Fixed Contract 10.2%
                 
    Principal     Market  
    Amount     Value  
 
Nationwide Fixed Contract, 3.60%(a)(c)
   $ 47,090,785       47,090,785  
 
              
Total Fixed Contract (cost $47,090,785)
             47,090,785  
 
              
 
                
Total Investments
(cost $457,132,293) (d) — 99.9%
             460,107,095  
 
                
Other assets in excess of liabilities — 0.1%
             233,155  
 
              
 
                
NET ASSETS — 100.0%
           $ 460,340,250  
 
              
 
(a)   Investment in affiliate.
 
(b)   Represents 7-day effective yield as of July 31, 2010.
 
(c)   The Nationwide Fixed Contract rate changes quarterly. The security is restricted and as the affiliated counterparty is required by contract to redeem within five days upon request, it has been deemed liquid pursuant to procedures approved by the Board of Trustees.
 
(d)   At July 31, 2010, the tax basis cost of the Fund’s investments was $470,036,640, tax unrealized appreciation and depreciation were $4,090,568 and $(14,020,113), respectively.
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

1

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide Investor Destinations Moderately Conservative Fund
In accordance with the authorative guidance on fair value measurements and disclosures under GAAP, the Fund discloses the fair value of its investments in a hierarchy that prioritizes the inputs to valuation techniques used to measure the fair value. This standard defines fair value, sets out a framework for measuring fair value and expands disclosures about fair value measurements. The hierarchy gives the highest priority to readily available unadjusted quoted prices in active markets for identical assets (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements) when market prices are not readily available or reliable. The three levels of the hierarchy established are summarized below:
Level 1:   Quoted prices in active markets for identical assets.
 
Level 2:   Other significant observable inputs (including quoted prices of similar securities, interest rates, prepayment speeds, credit risk, etc).
 
Level 3:   Significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments).
Changes in valuation techniques may result in transfers in or out of an investment’s assigned level within the hierarchy.
The inputs or methodology used to value securities and other investments are not intended to indicate the risk associated with investing in those securities and investments.
The following is a summary of the inputs used to value the Fund’s net assets as of July 31, 2010:
                                 
Asset Type*   Level 1   Level 2   Level 3   Total
 
Assets:
                                
Fixed Contract
   $ —     $ 47,090,785     $ —     $ 47,090,785  
Mutual Funds
   413,016,310     —     —     413,016,310  
 
Total
   $ 413,016,310     $ 47,090,785     $ —     $ 460,107,095  
 
Amounts designated as “—” are zero or have been rounded to zero.
 
*   See Statement of Investments for identification of fund investments by type and classification.
For the period ended July 31, 2010 there were no significant transfers between Levels 1 and 2.
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

2

 

Statement of Investments
July 31, 2010 (Unaudited)
Nationwide Investor Destinations Conservative Fund
Mutual Funds 83.1%
                 
            Market  
    Shares     Value  
 
Equity Funds 19.4%
                
Nationwide International Index Fund, Institutional Class (a)
     2,305,439     $ 15,354,224  
Nationwide Mid Cap Market Index Fund, Institutional Class (a)
     1,318,649       16,628,163  
Nationwide S&P 500 Index Fund, Institutional Class (a)
     3,414,831       31,655,484  
 
              
Total Equity Funds (cost $59,226,161)
             63,637,871  
 
              
 
Fixed Income Funds 57.7%
                
Nationwide Bond Index Fund, Institutional Class (a)
     11,717,510       134,634,184  
Nationwide Enhanced Income Fund, Institutional Class (a)
     5,959,171       54,168,867  
 
              
Total Fixed Income Funds (cost $181,947,152)
             188,803,051  
 
              
 
Money Market Fund 6.0%
                
Nationwide Money Market Fund, Institutional Class, 0.00% (a)(b)
     19,759,130       19,759,130  
 
              
Total Money Market Fund (cost $19,759,130)
             19,759,130  
 
              
 
                
Total Mutual Funds (cost $260,932,443)
             272,200,052  
 
              
Fixed Contract 16.8%
                 
    Principal     Market  
    Amount     Value  
 
Nationwide Fixed Contract, 3.60%(a)(c)
   $ 54,907,555       54,907,555  
 
              
Total Fixed Contract (cost $54,907,555)
             54,907,555  
 
              
 
                
Total Investments
(cost $315,839,998) (d) — 99.9%
             327,107,607  
 
                
Other assets in excess of liabilities — 0.1%
             237,074  
 
              
 
                
NET ASSETS — 100.0%
           $ 327,344,681  
 
              
 
(a)   Investment in affiliate.
 
(b)   Represents 7-day effective yield as of July 31, 2010.
 
(c)   The Nationwide Fixed Contract rate changes quarterly. The security is restricted and as the affiliated counterparty is required by contract to redeem within five days upon request, it has been deemed liquid pursuant to procedures approved by the Board of Trustees.
 
(d)   At July 31, 2010, the tax basis cost of the Fund’s investments was $322,649,204, tax unrealized appreciation and depreciation were $4,955,009 and $(496,606), respectively.
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

1

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide Investor Destinations Conservative Fund
In accordance with the authorative guidance on fair value measurements and disclosures under GAAP, the Fund discloses the fair value of its investments in a hierarchy that prioritizes the inputs to valuation techniques used to measure the fair value. This standard defines fair value, sets out a framework for measuring fair value and expands disclosures about fair value measurements. The hierarchy gives the highest priority to readily available unadjusted quoted prices in active markets for identical assets (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements) when market prices are not readily available or reliable. The three levels of the hierarchy established are summarized below:
Level 1:   Quoted prices in active markets for identical assets.
 
Level 2:   Other significant observable inputs (including quoted prices of similar securities, interest rates, prepayment speeds, credit risk, etc).
 
Level 3:   Significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments).
Changes in valuation techniques may result in transfers in or out of an investment’s assigned level within the hierarchy.
The inputs or methodology used to value securities and other investments are not intended to indicate the risk associated with investing in those securities and investments.
The following is a summary of the inputs used to value the Fund’s net assets as of July 31, 2010:
                                 
Asset Type*   Level 1   Level 2   Level 3   Total
 
Assets:
                                
Fixed Contract
   $ —     $ 54,907,555     $ —     $ 54,907,555  
Mutual Funds
   272,200,052     —     —       272,200,052  
 
Total
   $ 272,200,052     $ 54,907,555     $ —     $ 327,107,607  
 
Amounts designated as “—” are zero or have been rounded to zero.
 
*   See Statement of Investments for identification of fund investments by type and classification.
For the period ended July 31, 2010 there were no significant transfers between Levels 1 and 2.
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

2

 

Statement of Investments
July 31, 2010 (Unaudited)
Nationwide Growth Fund
Common Stocks 97.7%
                 
            Market  
    Shares     Value  
 
Aerospace & Defense 2.1%
                
Boeing Co. (The)
     6,700     $ 456,538  
Precision Castparts Corp.
     13,100       1,600,689  
United Technologies Corp.
     9,360       665,496  
 
              
 
             2,722,723  
 
              
Airlines 0.1%
                
UAL Corp.*
     3,200       75,968  
 
              
Auto Components 1.6%
                
Autoliv, Inc.*
     7,000       402,080  
BorgWarner, Inc.*
     27,300       1,197,378  
Johnson Controls, Inc.
     16,100       463,841  
 
              
 
             2,063,299  
 
              
Beverages 2.0%
                
Coca-Cola Enterprises, Inc.
     9,100       261,170  
PepsiCo, Inc.
     35,840       2,326,374  
 
              
 
             2,587,544  
 
              
Biotechnology 1.4%
                
Amgen, Inc.*
     3,550       193,582  
Biogen Idec, Inc.*
     4,700       262,636  
Gilead Sciences, Inc.*
     42,760       1,424,763  
 
              
 
             1,880,981  
 
              
Capital Markets 0.3%
                
Northern Trust Corp.
     7,800       366,522  
 
              
Chemicals 3.4%
                
Eastman Chemical Co.
     3,600       225,504  
Monsanto Co.
     5,700       329,688  
Potash Corp. of Saskatchewan, Inc.
     10,200       1,069,674  
Praxair, Inc.
     20,900       1,814,538  
Valspar Corp.
     33,300       1,045,953  
 
              
 
             4,485,357  
 
              
Communications Equipment 5.4%
                
Cisco Systems, Inc.*
     204,040       4,707,203  
F5 Networks, Inc.*
     6,000       526,980  
QUALCOMM, Inc.
     48,920       1,862,873  
 
              
 
             7,097,056  
 
              
Computers & Peripherals 9.0%
                
Apple, Inc.*
     26,460       6,806,835  
EMC Corp.*
     50,450       998,405  
Hewlett-Packard Co.
     59,640       2,745,826  
NetApp, Inc.*
     28,025       1,185,458  
Western Digital Corp.*
     6,300       166,257  
 
              
 
             11,902,781  
 
              
Consumer Finance 1.0%
                
Capital One Financial Corp.
     31,200       1,320,696  
 
              
Containers & Packaging 0.1%
                
Owens-Illinois, Inc.*
     5,850       161,752  
 
              
Diversified Financial Services 1.8%
                
IntercontinentalExchange, Inc.*
     9,800       1,035,076  
JPMorgan Chase & Co.
     26,100       1,051,308  
NYSE Euronext
     9,100       263,627  
 
              
 
             2,350,011  
 
              
Diversified Telecommunication Services 0.2%
                
Windstream Corp.
     20,800       237,120  
 
              
Electrical Equipment 0.8%
                
Emerson Electric Co.
     22,400       1,109,696  
 
              
Energy Equipment & Services 4.2%
                
Baker Hughes, Inc.
     7,600       366,852  
Cameron International Corp.*
     43,602       1,726,203  
Halliburton Co.
     86,630       2,588,505  
Helmerich & Payne, Inc.
     4,300       174,279  
Schlumberger Ltd.
     11,370       678,334  
 
              
 
             5,534,173  
 
              
Food & Staples Retailing 1.9%
                
Costco Wholesale Corp.
     5,800       328,918  
CVS Caremark Corp.
     45,049       1,382,554  
Kroger Co. (The)
     16,400       347,352  
Wal-Mart Stores, Inc.
     8,400       429,996  
 
              
 
             2,488,820  
 
              
Food Products 1.1%
                
Kellogg Co.
     19,850       993,492  
Mead Johnson Nutrition Co.
     8,400       446,376  
 
              
 
             1,439,868  
 
              
Health Care Equipment & Supplies 4.7%
                
Baxter International, Inc.
     30,290       1,325,793  
Hill-Rom Holdings, Inc.
     41,000       1,354,640  
Intuitive Surgical, Inc.*
     2,900       952,273  
Medtronic, Inc.
     12,100       447,337  
St. Jude Medical, Inc.*
     58,150       2,138,176  
 
              
 
             6,218,219  
 
              
Health Care Providers & Services 0.9%
                
Express Scripts, Inc.*
     26,668       1,204,860  
 
              
Hotels, Restaurants & Leisure 4.7%
                
International Game Technology
     16,600       252,984  
McDonald’s Corp.
     8,000       557,840  
P.F. Chang’s China Bistro, Inc.
     22,600       935,640  
Starbucks Corp.
     60,265       1,497,585  
Starwood Hotels & Resorts Worldwide, Inc.
     31,800       1,540,710  
WMS Industries, Inc.*
     19,250       741,318  
Wynn Resorts Ltd.
     3,700       324,416  
Yum! Brands, Inc.
     8,600       355,180  
 
              
 
             6,205,673  
 
              
Household Durables 0.1%
                
Garmin Ltd.
     5,250       149,678  
 
              
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

1

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide Growth Fund
Common Stocks (continued)
                 
            Market  
    Shares     Value  
 
Household Products 2.3%
                
Church & Dwight Co., Inc.
     6,500     $ 430,755  
Clorox Co.
     11,100       720,168  
Colgate-Palmolive Co.
     23,100       1,824,438  
 
              
 
             2,975,361  
 
              
Industrial Conglomerates 2.0%
                
3M Co.
     30,150       2,579,031  
 
              
Information Technology Services 3.9%
                
Cognizant Technology Solutions Corp., Class A*
     26,820       1,463,299  
International Business Machines Corp.
     11,070       1,421,388  
Visa, Inc., Class A
     31,020       2,275,317  
 
              
 
             5,160,004  
 
              
Internet & Catalog Retail 1.1%
                
Amazon.com, Inc.*
     3,900       459,771  
priceline.com, Inc.*
     4,591       1,030,220  
 
              
 
             1,489,991  
 
              
Internet Software & Services 3.7%
                
Google, Inc., Class A*
     7,210       3,495,769  
Yahoo!, Inc.*
     96,600       1,340,808  
 
              
 
             4,836,577  
 
              
Leisure Equipment & Products 0.3%
                
Hasbro, Inc.
     10,000       421,500  
 
              
Life Sciences Tools & Services 0.8%
                
Furiex Pharmaceuticals, Inc.*
     841       9,848  
Waters Corp.*
     15,700       1,007,312  
 
              
 
             1,017,160  
 
              
Machinery 6.6%
                
Caterpillar, Inc.
     6,400       446,400  
Cummins, Inc.
     25,200       2,006,172  
Danaher Corp.
     54,040       2,075,676  
Deere & Co.
     32,050       2,137,094  
Harsco Corp.
     14,800       342,768  
PACCAR, Inc.
     9,000       412,380  
Parker Hannifin Corp.
     21,400       1,329,368  
 
              
 
             8,749,858  
 
              
Metals & Mining 0.7%
                
Freeport-McMoRan Copper & Gold, Inc.
     12,000       858,480  
 
              
Multiline Retail 2.2%
                
Target Corp.
     56,550       2,902,146  
 
              
Multi-Utilities 0.0%†
                
CenterPoint Energy, Inc.
     3,500       49,805  
 
              
Oil, Gas & Consumable Fuels 3.4%
                
EOG Resources, Inc.
     16,600       1,618,500  
Exxon Mobil Corp.
     19,900       1,187,632  
Southwestern Energy Co.*
     41,100       1,498,095  
Williams Cos., Inc. (The)
     11,500       223,215  
 
              
 
             4,527,442  
 
              
Personal Products 0.7%
                
Alberto-Culver Co.
     33,700       986,399  
 
              
Pharmaceuticals 4.8%
                
Abbott Laboratories
     56,350       2,765,658  
Allergan, Inc.
     24,750       1,511,235  
Bristol-Myers Squibb Co.
     32,200       802,424  
Johnson & Johnson
     21,020       1,221,052  
 
              
 
             6,300,369  
 
              
Real Estate Investment Trusts (REITs) 0.3%
                
Rayonier, Inc.
     7,400       361,342  
 
              
Real Estate Management & Development 0.5%
                
Jones Lang LaSalle, Inc.
     7,700       596,442  
 
              
Road & Rail 1.7%
                
Canadian National Railway Co.
     18,400       1,158,648  
Kansas City Southern*
     28,116       1,031,857  
 
              
 
             2,190,505  
 
              
Semiconductors & Semiconductor Equipment 6.5%
                
Analog Devices, Inc.
     33,600       998,256  
Broadcom Corp., Class A
     38,300       1,379,949  
Intel Corp.
     165,730       3,414,038  
Marvell Technology Group Ltd.*
     110,350       1,646,422  
Teradyne, Inc.*
     71,100       765,036  
Texas Instruments, Inc.
     16,700       412,323  
 
              
 
             8,616,024  
 
              
Software 5.4%
                
Activision Blizzard, Inc.
     26,200       311,256  
McAfee, Inc.*
     40,200       1,330,620  
Microsoft Corp.
     56,600       1,460,846  
Oracle Corp.
     126,490       2,990,224  
Solera Holdings, Inc.
     21,500       816,570  
Symantec Corp.*
     18,100       234,757  
 
              
 
             7,144,273  
 
              
Specialty Retail 1.5%
                
Aeropostale, Inc.*
     6,400       181,952  
Lowe’s Cos., Inc.
     32,000       663,680  
Urban Outfitters, Inc.*
     35,900       1,154,544  
 
              
 
             2,000,176  
 
              
Textiles, Apparel & Luxury Goods 0.7%
                
Coach, Inc.
     26,300       972,311  
 
              
Tobacco 0.9%
                
Philip Morris International, Inc.
     22,190       1,132,578  
 
              
Trading Companies & Distributors 0.9%
                
W.W. Grainger, Inc.
     10,020       1,122,340  
 
              
 
                
Total Common Stocks
(cost $117,520,493)
             128,592,911  
 
              
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

2

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide Growth Fund
Mutual Fund 2.0%
                 
            Market  
    Shares     Value  
 
Money Market Fund 2.0%
                
Invesco Liquid Assets Portfolio — Institutional Class, 0.26% (a)
     2,628,214     $ 2,628,214  
 
              
Total Mutual Fund
(cost $2,628,214)
             2,628,214  
 
              
 
                
Total Investments
(cost $120,148,707) (b) — 99.7%
             131,221,125  
 
                
Other assets in excess of liabilities — 0.3%
             409,460  
 
              
 
                
NET ASSETS — 100.0%
           $ 131,630,585  
 
              
 
*   Denotes a non-income producing security.
 
(a)   Represents 7-day effective yield as of July 31, 2010.
 
(b)   At July 31, 2010, the tax basis cost of the Fund’s investments was $123,732,981, tax unrealized appreciation and depreciation were $11,603,020 and $(4,114,876), respectively.
 
†   Amount rounds to less than 0.1%.
Ltd.   Limited
REIT Real Estate Investment Trust
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

3

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide Growth Fund
In accordance with the authorative guidance on fair value measurements and disclosures under GAAP, the Fund discloses the fair value of its investments in a hierarchy that prioritizes the inputs to valuation techniques used to measure the fair value. This standard defines fair value, sets out a framework for measuring fair value and expands disclosures about fair value measurements. The hierarchy gives the highest priority to readily available unadjusted quoted prices in active markets for identical assets (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements) when market prices are not readily available or reliable. The three levels of the hierarchy established are summarized below:
Level 1:   Quoted prices in active markets for identical assets.
 
Level 2:   Other significant observable inputs (including quoted prices of similar securities, interest rates, prepayment speeds, credit risk, etc).
 
Level 3:   Significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments).
Changes in valuation techniques may result in transfers in or out of an investment’s assigned level within the hierarchy.
The inputs or methodology used to value securities and other investments are not intended to indicate the risk associated with investing in those securities and investments.
The following is a summary of the inputs used to value the Fund’s net assets as of July 31, 2010:
                                 
Asset Type*   Level 1   Level 2   Level 3   Total
 
Assets:
                                
Common Stocks
   $ 128,592,911     $ —     $ —     $ 128,592,911  
Mutual Fund
     2,628,214       —       —       2,628,214  
 
Total
   $ 131,221,125     $ —     $ —     $ 131,221,125  
 
Amounts designated as “—” are zero or have been rounded to zero.
 
*   See Statement of Investments for identification of securities by type and industry classification.
For the period ended July 31, 2010 there were no significant transfers between Levels 1 and 2.
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

4

 

Statement of Investments
July 31, 2010 (Unaudited)
Nationwide Fund
Common Stocks 98.0%
                 
            Market  
    Shares     Value  
 
Aerospace & Defense 4.0%
                
Boeing Co. (The)
     60,800     $ 4,142,912  
Bombardier, Inc., Class B
     1,200,100       5,439,878  
ITT Corp.(a)
     124,970       5,888,586  
United Technologies Corp.
     206,439       14,677,813  
 
              
 
             30,149,189  
 
              
Air Freight & Logistics 0.5%
                
FedEx Corp.
     44,000       3,632,200  
 
              
Auto Components 0.9%
                
BorgWarner, Inc.*(a)
     126,900       5,565,834  
Johnson Controls, Inc.
     40,909       1,178,588  
 
              
 
             6,744,422  
 
              
Automobiles 0.3%
                
Ford Motor Co.*(a)
     168,119       2,146,880  
 
              
Beverages 2.0%
                
PepsiCo, Inc.
     231,619       15,034,389  
 
              
Biotechnology 1.4%
                
Gilead Sciences, Inc.*
     309,500       10,312,540  
 
              
Capital Markets 2.5%
                
Charles Schwab Corp. (The)
     365,800       5,410,182  
Goldman Sachs Group, Inc. (The)
     19,865       2,996,039  
Raymond James Financial, Inc. (a)
     78,200       2,086,376  
State Street Corp.
     206,000       8,017,520  
 
              
 
             18,510,117  
 
              
Chemicals 3.5%
                
Cytec Industries, Inc.
     52,400       2,615,808  
E.I. du Pont de Nemours & Co. (a)
     48,800       1,984,696  
International Flavors & Fragrances, Inc.
     57,829       2,624,280  
Monsanto Co. (a)
     125,700       7,270,488  
Praxair, Inc.
     107,900       9,367,878  
Sherwin-Williams Co. (The)
     28,500       1,970,775  
 
              
 
             25,833,925  
 
              
Commercial Banks 3.0%
                
PNC Financial Services Group, Inc.
     50,400       2,993,256  
Royal Bank of Canada
     120,400       6,291,414  
Wells Fargo & Co.
     485,600       13,465,688  
 
              
 
             22,750,358  
 
              
Commercial Services & Supplies 0.3%
                
Pitney Bowes, Inc. (a)
     83,000       2,026,030  
 
              
Communications Equipment 4.4%
                
Cisco Systems, Inc.*
     699,736       16,142,909  
Motorola, Inc.*
     599,546       4,490,600  
QUALCOMM, Inc.
     319,800       12,177,984  
 
              
 
             32,811,493  
 
              
Computers & Peripherals 3.0%
                
Apple, Inc.*
     22,963       5,907,232  
EMC Corp.*(a)
     427,600       8,462,204  
Hewlett-Packard Co.
     137,515       6,331,190  
NCR Corp.*(a)
     120,411       1,649,631  
 
              
 
             22,350,257  
 
              
Construction & Engineering 0.2%
                
Fluor Corp. (a)
     33,600       1,622,544  
 
              
Consumer Finance 1.4%
                
American Express Co. (a)
     64,800       2,892,672  
Capital One Financial Corp.
     186,492       7,894,206  
 
              
 
             10,786,878  
 
              
Diversified Financial Services 3.2%
                
Bank of America Corp.
     401,199       5,632,834  
Citigroup, Inc.*(a)
     401,600       1,646,560  
JPMorgan Chase & Co.
     406,030       16,354,888  
 
              
 
             23,634,282  
 
              
Diversified Telecommunication Services 1.9%
                
AT&T, Inc.
     138,879       3,602,521  
Frontier Communications Corp.
     28,276       216,029  
Qwest Communications International, Inc.
     298,400       1,688,944  
TELUS Corp.
     109,649       4,338,817  
Verizon Communications, Inc.
     141,100       4,100,366  
 
              
 
             13,946,677  
 
              
Electric Utilities 0.4%
                
Northeast Utilities
     103,060       2,869,190  
 
              
Electrical Equipment 1.2%
                
Emerson Electric Co. (a)
     185,500       9,189,670  
 
              
Energy Equipment & Services 2.8%
                
Exterran Holdings, Inc.*(a)
     74,400       1,984,248  
FMC Technologies, Inc.*(a)
     46,900       2,967,832  
Schlumberger Ltd.
     152,900       9,122,014  
Tidewater, Inc.
     162,500       6,659,250  
 
              
 
             20,733,344  
 
              
Food & Staples Retailing 4.0%
                
Costco Wholesale Corp. (a)
     55,000       3,119,050  
CVS Caremark Corp.
     493,560       15,147,356  
Kroger Co. (The)
     109,800       2,325,564  
Sysco Corp.
     128,600       3,982,742  
Wal-Mart Stores, Inc. (a)
     95,566       4,892,024  
 
              
 
             29,466,736  
 
              
Food Products 4.0%
                
Archer-Daniels-Midland Co.
     87,700       2,399,472  
Campbell Soup Co. (a)
     85,400       3,065,860  
Hormel Foods Corp. (a)
     127,500       5,472,300  
Kellogg Co.
     144,800       7,247,240  
Kraft Foods, Inc., Class A
     402,200       11,748,262  
 
              
 
             29,933,134  
 
              
Gas Utilities 0.9%
                
Atmos Energy Corp.
     116,891       3,389,839  
UGI Corp.
     111,000       2,992,560  
 
              
 
             6,382,399  
 
              
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

1

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide Fund
Common Stocks (continued)
                 
            Market  
    Shares     Value  
 
Health Care Equipment & Supplies 2.8%
                
Baxter International, Inc.
     239,000     $ 10,461,030  
Beckman Coulter, Inc.
     29,800       1,365,734  
St. Jude Medical, Inc.*
     238,216       8,759,202  
 
              
 
             20,585,966  
 
              
Health Care Providers & Services 3.4%
                
Aetna, Inc.
     237,157       6,604,823  
Cardinal Health, Inc.
     97,500       3,146,325  
McKesson Corp.
     57,605       3,618,746  
Medco Health Solutions, Inc.*
     44,100       2,116,800  
Quest Diagnostics, Inc.
     147,500       6,931,025  
UnitedHealth Group, Inc.
     101,800       3,099,810  
 
              
 
             25,517,529  
 
              
Hotels, Restaurants & Leisure 0.6%
                
Starwood Hotels & Resorts Worldwide, Inc. (a)
     92,200       4,467,090  
 
              
Household Durables 0.3%
                
Stanley Black & Decker, Inc.
     36,557       2,121,037  
 
              
Household Products 1.0%
                
Procter & Gamble Co. (The)
     121,710       7,443,784  
 
              
Industrial Conglomerates 1.7%
                
3M Co.
     93,800       8,023,652  
General Electric Co.
     293,553       4,732,074  
 
              
 
             12,755,726  
 
              
Information Technology Services 3.1%
                
Alliance Data Systems Corp.*(a)
     115,300       6,627,444  
Cognizant Technology Solutions Corp., Class A*
     128,000       6,983,680  
International Business Machines Corp.
    71,211       9,143,492  
 
              
 
             22,754,616  
 
              
Insurance 3.3%
                
Aflac, Inc.
     87,600       4,309,044  
MetLife, Inc.
     221,501       9,316,332  
Old Republic International Corp. (a)
     233,461       2,920,597  
PartnerRe Ltd.
     21,294       1,541,047  
Progressive Corp. (The) (a)
     227,200       4,462,208  
Transatlantic Holdings, Inc.
     48,137       2,301,430  
 
              
 
             24,850,658  
 
              
Internet & Catalog Retail 0.3%
                
Amazon.com, Inc.*(a)
     21,600       2,546,424  
 
              
Internet Software & Services 1.4%
                
Google, Inc., Class A*
     5,593       2,711,766  
Yahoo!, Inc.*
     581,300       8,068,444  
 
              
 
             10,780,210  
 
              
Leisure Equipment & Products 0.3%
                
Hasbro, Inc.
     61,400       2,588,010  
 
              
Life Sciences Tools & Services 0.4%
                
Mettler-Toledo International, Inc.*
     25,400       2,966,720  
 
              
Machinery 3.6%
                
AGCO Corp.*(a)
     73,500       2,554,860  
Caterpillar, Inc. (a)
     37,300       2,601,675  
Cummins, Inc.
     31,800       2,531,598  
Deere & Co.
     178,167       11,880,176  
Eaton Corp. (a)
     17,718       1,390,154  
PACCAR, Inc.
     127,400       5,837,468  
 
              
 
             26,795,931  
 
              
Media 1.6%
                
Cablevision Systems Corp., Class A
     91,012       2,494,639  
Comcast Corp., Class A
     230,700       4,491,729  
Walt Disney Co. (The)
     154,730       5,212,854  
 
              
 
             12,199,222  
 
              
Multi-Utilities 0.3%
                
Integrys Energy Group, Inc. (a)
     47,200       2,234,920  
 
              
Oil, Gas & Consumable Fuels 9.2%
                
Apache Corp.
     136,800       13,075,344  
Chevron Corp.
     97,988       7,467,665  
EOG Resources, Inc.
     92,100       8,979,750  
Exxon Mobil Corp.
     285,233       17,022,705  
Hess Corp.
     295,540       15,837,989  
Murphy Oil Corp.
     68,702       3,761,435  
Valero Energy Corp.
     136,200       2,314,038  
 
              
 
             68,458,926  
 
              
Paper & Forest Products 0.3%
                
MeadWestvaco Corp.
     80,976       1,940,185  
 
              
Pharmaceuticals 3.3%
                
Bristol-Myers Squibb Co.
     104,786       2,611,267  
Eli Lilly & Co. (a)
     209,643       7,463,291  
Johnson & Johnson
     199,211       11,572,167  
Pfizer, Inc.
     202,903       3,043,545  
 
              
 
             24,690,270  
 
              
Real Estate Investment Trusts (REITs) 0.2%
                
Plum Creek Timber Co., Inc. (a)
     49,100       1,761,708  
 
              
Road & Rail 1.5%
                
Canadian National Railway Co.
     178,400       11,233,848  
 
              
Semiconductors & Semiconductor Equipment 3.3%
                
Advanced Micro Devices, Inc.*(a)
     337,700       2,529,373  
Intel Corp.
     615,525       12,679,815  
Marvell Technology Group Ltd.*
     496,200       7,403,304  
Texas Instruments, Inc.
     96,000       2,370,240  
 
              
 
             24,982,732  
 
              
Software 5.1%
                
Cadence Design Systems, Inc.*
     222,696       1,549,964  
Citrix Systems, Inc.*(a)
     37,400       2,057,748  
McAfee, Inc.*
     277,600       9,188,560  
Microsoft Corp.
     234,546       6,053,633  
Oracle Corp.
     475,300       11,236,092  
Solera Holdings, Inc. (a)
     201,300       7,645,374  
 
              
 
             37,731,371  
 
              
Specialty Retail 3.7%
                
Best Buy Co., Inc. (a)
     49,300       1,708,738  
Home Depot, Inc.
     137,022       3,906,497  
Lowe’s Cos., Inc.
     104,900       2,175,626  
Staples, Inc.
     447,725       9,102,250  
TJX Cos., Inc.
     193,400       8,029,968  
Urban Outfitters, Inc.*
     89,400       2,875,104  
 
              
 
             27,798,183  
 
              
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

2

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide Fund
Common Stocks (continued)
                 
            Market  
    Shares     Value  
 
Tobacco 1.5%
                
Philip Morris International, Inc.
     218,100     $ 11,131,824  
 
              
 
                
Total Common Stocks
(cost $662,126,793)
             731,203,544  
 
              
Mutual Fund 2.1%
                 
            Market  
    Shares     Value  
 
Money Market Fund 2.1%
                
Invesco Liquid Assets Portfolio - Institutional Class, 0.26% (b)
     15,638,871       15,638,871  
 
              
Total Mutual Fund
(cost $15,638,871)
             15,638,871  
 
              
Repurchase Agreements 11.3%
                 
    Principal     Market  
    Amount     Value  
 
Barclays Capital, 0.21%, dated 07/30/2010, due 08/02/2010, repurchase price $6,000,105, collateralized by U.S. Treasury Securities 1.00% - 3.25%, maturing 07/31/11 - 03/31/17; total market value of $6,120,000. (c)
   $ 6,000,000     $ 6,000,000  
Goldman Sachs & Co., 0.21%, dated 07/30/2010, due 08/02/2010, repurchase price $23,401,494 collateralized by U.S. Government Agency Mortgages 4.00% - 14.00%, maturing 10/15/10 - 07/20/60; total market value of $23,869,106. (c)
     23,401,084       23,401,084  
Morgan Stanley, 0.21%, dated 07/30/2010, due 08/02/2010, repurchase price $55,000,963, collateralized by U.S. Government Agency Securities 3.50% - 6.00%, maturing 05/01/22 - 06/01/40; total market value of $56,100,000. (c)
     55,000,000       55,000,000  
 
              
Total Repurchase Agreements
(cost $84,401,084)
             84,401,084  
 
              
 
                
Total Investments
(cost $762,166,748) (d) — 111.4%
             831,243,499  
 
                
Liabilities in excess of other assets — (11.4%)
             (85,297,013 )
 
              
 
                
NET ASSETS — 100.0%
           $ 745,946,486  
 
              
 
*   Denotes a non-income producing security.
 
(a)   The security or a portion of this security is on loan at July 31, 2010. The total value of securities on loan at July 31, 2010 was $82,395,371.
 
(b)   Represents 7-day effective yield as of July 31, 2010.
 
(c)   The security was purchased with cash collateral held from securities on loan. The total value of this security as of July 31, 2010 was $84,401,084.
 
(d)   At July 31, 2010, the tax basis cost of the Fund’s investments was $790,697,385, tax unrealized appreciation and depreciation were $76,811,425 and $(36,265,311), respectively.
Ltd.   Limited
REIT Real Estate Investment Trust
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

3

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide Fund
In accordance with the authorative guidance on fair value measurements and disclosures under GAAP, the Fund discloses the fair value of its investments in a hierarchy that prioritizes the inputs to valuation techniques used to measure the fair value. This standard defines fair value, sets out a framework for measuring fair value and expands disclosures about fair value measurements. The hierarchy gives the highest priority to readily available unadjusted quoted prices in active markets for identical assets (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements) when market prices are not readily available or reliable. The three levels of the hierarchy established are summarized below:
Level 1:   Quoted prices in active markets for identical assets.
 
Level 2:   Other significant observable inputs (including quoted prices of similar securities, interest rates, prepayment speeds, credit risk, etc).
 
Level 3:   Significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments).
Changes in valuation techniques may result in transfers in or out of an investment’s assigned level within the hierarchy.
The inputs or methodology used to value securities and other investments are not intended to indicate the risk associated with investing in those securities and investments.
The following is a summary of the inputs used to value the Fund’s net assets as of July 31, 2010:
                                 
Asset Type*   Level 1   Level 2   Level 3   Total
 
Assets:
                                
Common Stocks
   $ 731,203,544     $ —     $ —     $ 731,203,544  
Mutual Fund
     15,638,871       —       —       15,638,871  
Repurchase Agreements
     —       84,401,084       —       84,401,084  
 
Total
   $ 746,842,415     $ 84,401,084     $ —     $ 831,243,499  
 
Amounts designated as “—” are zero or have been rounded to zero.
 
*   See Statement of Investments for identification of securities by type and industry classification.
For the period ended July 31, 2010 there were no significant transfers between Levels 1 and 2.
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

4

 

Statement of Investments
July 31, 2010 (Unaudited)
Nationwide Money Market Fund
Certificates of Deposit 13.7%
                 
    Principal     Market  
    Amount     Value  
 
Banking 13.7%
                
Banco Bilbao Vizcaya Argentaria SA,
                
0.47%, 08/06/10
   $ 18,000,000     $ 18,000,012  
Bank of America NA,
                
0.51%, 10/18/10
     17,519,000       17,499,642  
Bank of Tokyo-Mitsubishi UFJ Ltd. — New York
                
0.55%, 09/20/10
     25,000,000       24,999,996  
0.47%, 10/12/10
     20,000,000       20,000,000  
Barclays Bank PLC,
                
0.59%, 01/21/11
     65,000,000       65,000,000  
Canadian Imperial Bank of Commerce — New York,
                
0.41%, 11/17/10
     5,000,000       5,000,000  
Credit Agricole Corporate and Investment Bank — New York
                
0.45%, 08/12/10
     80,000,000       80,000,000  
0.34%, 08/20/10
     12,000,000       12,000,000  
Deutsche Bank AG,
                
0.45%, 10/06/10
     9,000,000       9,000,000  
State Street Bank and Trust Co.,
                
0.35%, 09/21/10
     25,000,000       25,000,000  
Toronto Dominion Bank — New York,
                
0.35%, 12/09/10
     8,000,000       8,000,000  
 
              
 
Total Certificates of Deposit
(cost $284,499,650)
             284,499,650  
 
              
Commercial Paper 57.4%
                 
    Principal     Market  
    Amount     Value  
 
Banking 7.9%
                
Australia & New Zealand Banking Group Ltd.,
                
0.35%, 01/28/11(a)
     14,800,000       14,800,000  
BNP Paribas Finance, Inc.,
                
0.61%, 09/16/10
     25,000,000       24,980,514  
Clipper Receivables Co. LLC,
                
0.37%, 09/21/10(a)
     15,000,000       14,992,244  
Societe Generale North America, Inc.
                
0.26%, 08/03/10
     35,000,000       34,999,494  
0.65%, 10/12/10
     10,000,000       9,987,000  
0.65%, 01/19/11
     35,000,000       34,891,938  
Surrey Funding Corp.,
                
0.33%, 08/02/10(a)
     6,100,000       6,099,944  
Ticonderoga Funding LLC,
                
0.41%, 10/12/10(a)
     24,028,000       24,008,297  
 
              
 
             164,759,431  
 
              
Diversified 4.8%
                
General Electric Co.,
                
0.20%, 08/02/10
     100,000,000       99,999,444  
 
              
Finance-Automotive 7.6%
                
FCAR Owner Trust
                
0.43%, 08/02/10
     15,850,000       15,849,811  
0.60%, 10/05/10
     12,000,000       11,987,000  
0.80%, 01/05/11
     25,000,000       24,912,778  
Toyota Motor Credit Corp.
                
0.75%, 12/01/10
     25,000,000       24,936,458  
0.54%, 12/06/10
     50,000,000       49,904,750  
0.52%, 12/21/10
     30,000,000       29,938,861  
 
              
 
             157,529,658  
 
              
Finance-Commercial 13.0%
                
Atlantic Asset Securitization LLC
                
0.33%, 08/02/10(a)
     4,000,000       3,999,963  
0.34%, 08/03/10(a)
     25,000,000       24,999,528  
0.30%, 08/10/10(a)
     25,000,000       24,998,125  
0.55%, 08/23/10(a)
     1,800,000       1,799,395  
0.49%, 10/12/10(a)
     49,000,000       48,951,980  
Edison Asset Securitization LLC
                
0.38%, 08/09/10(a)
     14,000,000       13,998,818  
0.46%, 09/07/10(a)
     15,000,000       14,992,908  
0.35%, 10/15/10(a)
     22,500,000       22,482,813  
Fairway Finance LLC,
                
0.45%, 12/09/10(a)
     10,000,000       9,999,645  
Market Street Funding LLC
                
0.32%, 09/21/10(a)
     30,020,000       30,006,391  
0.39%, 10/08/10(a)
     22,022,000       22,005,777  
0.40%, 10/12/10(a)
     26,649,000       26,627,681  
Starbird Funding Corp.,
                
0.58%, 09/13/10(a)
     25,000,000       24,982,680  
 
              
 
             269,845,704  
 
              
Finance-Retail 17.0%
                
Barton Capital Corp.
                
0.20%, 08/02/10(a)
     41,446,000       41,445,770  
0.32%, 10/22/10(a)
     10,049,000       10,041,675  
Chariot Funding LLC
                
0.20%, 08/02/10(a)
     30,000,000       29,999,833  
0.38%, 08/19/10(a)
     55,000,000       54,989,550  
0.43%, 09/22/10(a)
     10,000,000       9,993,789  
Falcon Asset Securitization Co. LLC
                
0.23%, 08/03/10(a)
     27,000,000       26,999,655  
0.32%, 09/17/10(a)
     30,000,000       29,987,467  
Jupiter Securitization Co. LLC,
                
0.45%, 09/15/10(a)
     35,000,000       34,980,312  
Salisbury Receivables Co. LLC
                
0.43%, 08/04/10(a)
     25,000,000       24,999,104  
0.30%, 08/13/10(a)
     24,869,000       24,866,513  
0.26%, 08/23/10(a)
     12,000,000       11,998,094  
0.50%, 09/02/10(a)
     2,000,000       1,999,111  
Sheffield Receivables Corp.,
                
0.42%, 08/11/10(a)
     50,000,000       49,994,167  
 
              
 
             352,295,040  
 
              
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are
included in the Fund’s audited annual report and unaudited semi-annual report.

1

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide Money Market Fund
Commercial Paper (continued)
                 
    Principal     Market  
    Amount     Value  
 
Government Agency 4.2%
                
Straight-A Funding LLC
                
0.43%, 08/27/10
   $ 31,000,000     $ 30,990,373  
0.40%, 09/17/10
     12,000,000       11,993,733  
0.29%, 10/01/10
     45,000,000       44,977,888  
 
              
 
             87,961,994  
 
              
Pharmaceuticals and Health Care 0.1%
                
Johnson & Johnson,
                
0.23%, 08/03/10(a)
     2,100,000       2,099,973  
 
              
Retail 2.8%
                
Wal-Mart Stores, Inc.,
                
0.17%, 08/02/10(a)
     58,500,000       58,499,724  
 
              
Total Commercial Paper
(cost $1,192,990,968)
             1,192,990,968  
 
              
Corporate Bonds 3.0%
                 
    Principal     Market  
    Amount     Value  
 
Finance-Commercial 0.8%
                
General Electric Capital Corp.
                
6.13%, 02/22/11
     11,325,000       11,662,973  
5.50%, 04/28/11
     5,000,000       5,164,503  
 
              
 
             16,827,476  
 
              
Retail 2.2%
                
Wal-Mart Stores, Inc.,
                
4.13%, 02/15/11
     45,000,000       45,895,687  
 
              
Total Corporate Bonds
(cost $62,723,163)
             62,723,163  
 
              
Medium Term Notes 1.6%
                 
    Principal     Market  
    Amount     Value  
 
Finance-Commercial 0.9%
                
General Electric Capital Corp.,
               
0.62%, 10/21/10(b)
     18,085,000       18,080,354  
 
              
Pharmaceuticals and Health Care 0.7%
                
Roche Holdings, Inc.,
                
2.50%, 02/25/11(a)(b)
     14,400,000       14,565,178  
 
              
Total Medium Term Notes
(cost $32,645,532)
             32,645,532  
 
              
U.S. Government Mortgage Backed Agencies 13.8%
                 
    Principal     Market  
    Amount     Value  
 
Federal Home Loan Banks
                
0.55%, 08/04/10
  $ 25,000,000     $ 24,999,862  
0.13%, 08/25/10
    25,000,000       24,997,917  
0.40%, 12/27/10
    50,000,000       50,000,000  
0.50%, 03/14/11, Series 1
     10,000,000       10,000,000  
0.65%, 05/25/11
    25,000,000       25,000,000  
0.24%, 07/20/11 (b)
     50,000,000       49,985,266  
Federal Home Loan Mortgage Corp.
                
0.35%, 01/09/12 (b)
     75,000,000       74,956,289  
Federal National Mortgage Association
                
0.25%, 08/11/11 (b)
     27,200,000       27,183,136  
 
              
 
                
Total U.S. Government Mortgage Backed Agencies
(cost $287,122,470)
             287,122,470  
 
              
U.S. Government Sponsored & Agency Obligation 1.3%
                 
    Principal     Market  
    Amount     Value  
 
U.S. Treasury Notes 1.3%
                
U.S. Treasury Note,
                
5.13%, 06/30/11
     25,000,000       26,080,224  
 
              
Total U.S. Government Sponsored & Agency Obligation
(cost $26,080,224)
             26,080,224  
 
              
Mutual Funds 9.5%
                 
            Market  
    Shares     Value  
 
Asset Management 9.5%
                
Federated Prime Cash Obligations Fund, Institutional Shares, 0.26% (c)
     110,096,804       110,096,804  
Federated Prime Obligations Fund, Institutional Shares, 0.24% (c)
     88,324,915       88,324,915  
 
              
Total Mutual Funds
(cost $198,421,719)
             198,421,719  
 
              
 
                
Total Investments
(cost $2,084,483,726) (d) — 100.3%
             2,084,483,726  
 
                
Liabilities in excess of other assets — (0.3)%
             (5,787,308 )
 
              
 
                
NET ASSETS — 100.0%
           $ 2,078,696,418  
 
              
 
(a)   Rule 144A, Section 4(2), or other security which is restricted as to sale to institutional investors. These securities were deemed liquid pursuant to procedures approved by the Board of Trustees. The aggregate value of these securities at July 31, 2010 was $757,206,104 which represents 36.43% of net assets.
 
(b)   Variable Rate Security. The rate reflected in the Statement of Investments is the rate in effect on July 31, 2010. The maturity date represents the actual maturity date.
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are
included in the Fund’s audited annual report and unaudited semi-annual report.

2

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide Money Market Fund
 
(c)   Represents 7-day effective yield as of July 31, 2010.
 
(d)   At July 31, 2010, the tax basis cost of the Fund’s investments was $2,084,483,726, tax unrealized appreciation and depreciation were $0 and $0, respectively.
 
AG
  Stock Corporation
 
LLC
  Limited Liability Company
 
Ltd.
  Limited
 
NA
  National Association
 
PLC
  Public Limited Company
 
SA
  Stock Company
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are
included in the Fund’s audited annual report and unaudited semi-annual report.

3

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide Money Market Fund
In accordance with the authorative guidance on fair value measurements and disclosures under GAAP, the Fund discloses the fair value of its investments in a hierarchy that prioritizes the inputs to valuation techniques used to measure the fair value. This standard defines fair value, sets out a framework for measuring fair value and expands disclosures about fair value measurements. The hierarchy gives the highest priority to readily available unadjusted quoted prices in active markets for identical assets (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements) when market prices are not readily available or reliable. The three levels of the hierarchy established are summarized below:
Level 1:   Quoted prices in active markets for identical assets.
Level 2:   Other significant observable inputs (including quoted prices of similar securities, interest rates, prepayment speeds, credit risk, etc).
Level 3:   Significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments).
Changes in valuation techniques may result in transfers in or out of an investment’s assigned level within the hierarchy.
The inputs or methodology used to value securities and other investments are not intended to indicate the risk associated with investing in those securities and investments.
The following is a summary of the inputs used to value the Fund’s net assets as of July 31, 2010:
                                 
Asset Type*   Level 1   Level 2   Level 3   Total
 
Assets:
                                
Certificates of Deposit
   $ —     $ 284,499,650     $ —     $ 284,499,650  
Commercial Paper
     —       1,192,990,968       —       1,192,990,968  
Corporate Bonds
     —       62,723,163       —       62,723,163  
Medium Term Notes
     —       32,645,532       —       32,645,532  
Mutual Funds
     198,421,719       —       —       198,421,719  
U.S. Government Mortgage Backed Agencies
     —       287,122,470       —       287,122,470  
U.S. Government Sponsored & Agency Obligation
     —       26,080,224       —       26,080,224  
 
Total
   $ 198,421,719     $ 1,886,062,007     $ —     $ 2,084,483,726  
 
Amounts designated as “—” are zero or have been rounded to zero.
 
 
*   See Statement of Investments for identification of securities by type and industry classification.
For the period ended July 31, 2010 there were no significant transfers between Levels 1 and 2.
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are
included in the Fund’s audited annual report and unaudited semi-annual report.

4

 

Statement of Investments
July 31, 2010 (Unaudited)
Nationwide Destination 2010 Fund
Mutual Funds 72.9%
                 
            Market  
    Shares     Value  
 
Equity Funds 43.6%
                
Credit Suisse Commodity Return Strategy Fund, Common Class
     104,555       863,622  
Nationwide International Index Fund, Institutional Class (a)
     405,244       2,698,923  
Nationwide Mid Cap Market Index Fund, Institutional Class (a)
     151,592       1,911,577  
Nationwide S&P 500 Index Fund, Institutional Class (a)
     671,801       6,227,595  
Nationwide Small Cap Index Fund, Institutional Class (a)
     81,529       813,656  
 
              
Total Equity Funds (cost $11,064,256)
             12,515,373  
 
              
Fixed Income Funds 24.2%
                
Nationwide Bond Index Fund, Institutional Class (a)
     397,670       4,569,235  
Oppenheimer International Bond Fund, Class Y
     273,822       1,777,103  
T. Rowe Price Institutional High Yield Fund
     61,552       593,365  
 
              
Total Fixed Income Funds (cost $6,570,334)
             6,939,703  
 
              
Money Market Fund 5.1%
                
Nationwide Money Market Fund, Institutional Class, 0.00% (a)(b)
     1,462,725       1,462,725  
 
              
Total Money Market Fund (cost $1,462,725)
             1,462,725  
 
              
 
                
Total Mutual Funds (cost $19,097,315)
             20,917,801  
 
              
Exchange Traded Funds 27.0%
                 
            Market  
    Shares     Value  
 
Equity Funds 3.0%
                
SPDR Dow Jones International Real Estate ETF
     8,173       287,281  
Vanguard Emerging Markets Index Fund, ETF Shares
     6,733       281,910  
Vanguard REIT Index Fund, ETF Shares
     5,685       289,651  
 
              
 
                
Total Equity Funds (cost $669,494)
             858,842  
 
              
 
                
Fixed Income Funds 24.0%
                
iShares Barclays Treasury Inflation Protected Securities Bond Fund
     39,546       4,206,508  
Vanguard Short-Term Bond Index Fund, ETF Shares
     33,057       2,691,832  
 
              
 
                
Total Fixed Income Funds (cost $6,677,005)
             6,898,340  
 
              
 
Total Exchange Traded Funds (cost $7,346,499)
             7,757,182  
 
              
 
                
Total Investments
(cost $26,443,814) (c) — 99.9%
             28,674,983  
 
                
Other assets in excess of liabilities — 0.1%
             22,494  
 
              
 
                
NET ASSETS — 100.0%
           $ 28,697,477  
 
              
 
(a)   Investment in affiliate.
 
(b)   Represents 7-day effective yield as of July 31, 2010.
 
(c)   At July 31, 2010, the tax basis cost of the Fund’s investments was $28,187,736, tax unrealized appreciation and depreciation were $487,247 and $0, respectively.
 
ETF
  Exchange Traded Fund
 
REIT
  Real Estate Investment Trust
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are
included in the Fund’s audited annual report and unaudited semi-annual report.

1

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide Destination 2010 Fund
In accordance with the authorative guidance on fair value measurements and disclosures under GAAP, the Fund discloses the fair value of its investments in a hierarchy that prioritizes the inputs to valuation techniques used to measure the fair value. This standard defines fair value, sets out a framework for measuring fair value and expands disclosures about fair value measurements. The hierarchy gives the highest priority to readily available unadjusted quoted prices in active markets for identical assets (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements) when market prices are not readily available or reliable. The three levels of the hierarchy established are summarized below:
Level 1:   Quoted prices in active markets for identical assets.
Level 2:   Other significant observable inputs (including quoted prices of similar securities, interest rates, prepayment speeds, credit risk, etc).
Level 3:   Significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments).
Changes in valuation techniques may result in transfers in or out of an investment’s assigned level within the hierarchy.
The inputs or methodology used to value securities and other investments are not intended to indicate the risk associated with investing in those securities and investments.
The following is a summary of the inputs used to value the Fund’s net assets as of July 31, 2010:
                                 
Asset Type*   Level 1   Level 2   Level 3   Total
 
Assets:
                                
Exchange Traded Funds
   $ 7,757,182     $ —     $ —     $ 7,757,182  
Mutual Funds
     20,917,801       —       —       20,917,801  
 
Total
   $ 28,674,983     $ —     $ —     $ 28,674,983  
 
Amounts designated as “—” are zero or have been rounded to zero.
 
     
*   See Statement of Investments for identification of fund investments by type and classification.
For the period ended July 31, 2010 there were no significant transfers between Levels 1 and 2.
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are
included in the Fund’s audited annual report and unaudited semi-annual report.

2

 

Statement of Investments
July 31, 2010 (Unaudited)
Nationwide Destination 2015 Fund
Mutual Funds 73.9%
                 
            Market  
    Shares     Value  
 
Equity Funds 50.7%
                
Credit Suisse Commodity Return Strategy Fund, Common Class
     469,937       3,881,679  
Nationwide International Index Fund, Institutional Class (a)
     1,784,612       11,885,512  
Nationwide Mid Cap Market Index Fund, Institutional Class (a)
     583,836       7,362,176  
Nationwide S&P 500 Index Fund, Institutional Class (a)
     2,363,764       21,912,090  
Nationwide Small Cap Index Fund, Institutional Class (a)
     366,276       3,655,434  
 
              
Total Equity Funds (cost $41,750,042)
             48,696,891  
 
              
Fixed Income Funds 22.2%
                
Nationwide Bond Index Fund, Institutional Class (a)
     1,422,962       16,349,829  
Oppenheimer International Bond Fund, Class Y
     614,457       3,987,827  
T. Rowe Price Institutional High Yield Fund
     103,382       996,606  
 
              
Total Fixed Income Funds (cost $20,238,398)
             21,334,262  
 
              
Money Market Fund 1.0%
                
Nationwide Money Market Fund, Institutional Class, 0.00% (a)(b)
     982,639       982,639  
 
              
Total Money Market Fund (cost $982,639)
             982,639  
 
              
 
                
Total Mutual Funds (cost $62,971,079)
             71,013,792  
 
              
Exchange Traded Funds 26.1%
                 
            Market  
    Shares     Value  
 
Equity Funds 4.0%
                
SPDR Dow Jones International Real Estate ETF
     27,670       972,600  
Vanguard Emerging Markets Index Fund, ETF Shares
     45,623       1,910,235  
Vanguard REIT Index Fund, ETF Shares
     19,169       976,661  
 
              
Total Equity Funds (cost $2,848,367)
             3,859,496  
 
              
Fixed Income Funds 22.1%
                
iShares Barclays Treasury Inflation Protected Securities Bond Fund
     123,458       13,132,228  
Vanguard Short-Term Bond Index Fund, ETF Shares
     98,852       8,049,518  
 
              
Total Fixed Income Funds (cost $20,460,206)
             21,181,746  
 
              
Total Exchange Traded Funds (cost $23,308,573)
             25,041,242  
 
              
 
                
Total Investments
(cost $86,279,652) (c) — 100.0%
             96,055,034  
 
                
Other assets in excess of liabilities — 0.0%
             10,379  
 
              
 
                
NET ASSETS — 100.0%
           $ 96,065,413  
 
              
 
(a)   Investment in affiliate.
 
(b)   Represents 7-day effective yield as of July 31, 2010.
 
(c)   At July 31, 2010, the tax basis cost of the Fund’s investments was $91,071,749, tax unrealized appreciation and depreciation were $4,983,285 and $0, respectively.
 
ETF
  Exchange Traded Fund
 
REIT
  Real Estate Investment Trust
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are
included in the Fund’s audited annual report and unaudited semi-annual report.

1

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide Destination 2015 Fund
In accordance with the authorative guidance on fair value measurements and disclosures under GAAP, the Fund discloses the fair value of its investments in a hierarchy that prioritizes the inputs to valuation techniques used to measure the fair value. This standard defines fair value, sets out a framework for measuring fair value and expands disclosures about fair value measurements. The hierarchy gives the highest priority to readily available unadjusted quoted prices in active markets for identical assets (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements) when market prices are not readily available or reliable. The three levels of the hierarchy established are summarized below:
Level 1:   Quoted prices in active markets for identical assets.
Level 2:   Other significant observable inputs (including quoted prices of similar securities, interest rates, prepayment speeds, credit risk, etc).
Level 3:   Significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments).
Changes in valuation techniques may result in transfers in or out of an investment’s assigned level within the hierarchy.
The inputs or methodology used to value securities and other investments are not intended to indicate the risk associated with investing in those securities and investments.
The following is a summary of the inputs used to value the Fund’s net assets as of July 31, 2010:
                                 
Asset Type*   Level 1   Level 2   Level 3   Total
 
Assets:
                                
Exchange Traded Funds
   $ 25,041,242     $ —     $ —     $ 25,041,242  
Mutual Funds
     71,013,792       —       —       71,013,792  
 
Total
   $ 96,055,034     $ —     $ —     $ 96,055,034  
 
Amounts designated as “—” are zero or have been rounded to zero.
 
     
*   See Statement of Investments for identification of fund investments by type and classification.
For the period ended July 31, 2010 there were no significant transfers between Levels 1 and 2.
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are
included in the Fund’s audited annual report and unaudited semi-annual report.

2

 

Statement of Investments
July 31, 2010 (Unaudited)
Nationwide Destination 2020 Fund
Mutual Funds 78.0%
                 
            Market  
    Shares     Value  
 
Equity Funds 58.8%
                
Credit Suisse Commodity Return Strategy Fund, Common Class
     505,928       4,178,965  
Nationwide International Index Fund, Institutional Class (a)
     2,365,346       15,753,206  
Nationwide Mid Cap Market Index Fund, Institutional Class (a)
     706,795       8,912,687  
Nationwide S&P 500 Index Fund, Institutional Class (a)
     2,756,140       25,549,413  
Nationwide Small Cap Index Fund, Institutional Class (a)
     591,143       5,899,610  
 
              
Total Equity Funds (cost $54,484,756)
             60,293,881  
 
              
Fixed Income Fund 18.2%
                
Nationwide Bond Index Fund, Institutional Class (a)
     1,626,674       18,690,484  
 
              
Total Fixed Income Fund (cost $17,874,951)
             18,690,484  
 
              
Money Market Fund 1.0%
                
Nationwide Money Market Fund, Institutional Class, 0.00% (a)(b)
     1,057,444       1,057,444  
 
              
Total Money Market Fund (cost $1,057,444)
             1,057,444  
 
              
 
                
Total Mutual Funds (cost $73,417,151)
             80,041,809  
 
              
Exchange Traded Funds 22.0%
                 
            Market  
    Shares     Value  
 
Equity Funds 6.1%
                
SPDR Dow Jones International Real Estate ETF
     29,825       1,048,349  
Vanguard Emerging Markets Index Fund, ETF Shares
     73,784       3,089,336  
Vanguard REIT Index Fund, ETF Shares
     41,318       2,105,152  
 
              
Total Equity Funds (cost $4,730,978)
             6,242,837  
 
              
 
                
Fixed Income Funds 15.9%
                
iShares Barclays Treasury Inflation Protected Securities Bond Fund
     102,321       10,883,885  
Vanguard Short-Term Bond Index Fund, ETF Shares
     66,577       5,421,365  
 
              
Total Fixed Income Funds (cost $15,786,418)
             16,305,250  
 
              
Total Exchange Traded Funds (cost $20,517,396)
             22,548,087  
 
              
 
                
Total Investments
(cost $93,934,547) (c) — 100.0%
             102,589,896  
 
                
Liabilities in excess of other assets — 0.0%
             (34,990 )
 
              
 
                
NET ASSETS — 100.0%
           $ 102,554,906  
 
              
 
(a)   Investment in affiliate.
 
(b)   Represents 7-day effective yield as of July 31, 2010.
 
(c)   At July 31, 2010, the tax basis cost of the Fund’s investments was $98,118,056, tax unrealized appreciation and depreciation were $4,486,467 and $(14,627), respectively.
 
ETF
  Exchange Traded Fund
 
REIT
  Real Estate Investment Trust
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are
included in the Fund’s audited annual report and unaudited semi-annual report.

1

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide Destination 2020 Fund
In accordance with the authorative guidance on fair value measurements and disclosures under GAAP, the Fund discloses the fair value of its investments in a hierarchy that prioritizes the inputs to valuation techniques used to measure the fair value. This standard defines fair value, sets out a framework for measuring fair value and expands disclosures about fair value measurements. The hierarchy gives the highest priority to readily available unadjusted quoted prices in active markets for identical assets (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements) when market prices are not readily available or reliable. The three levels of the hierarchy established are summarized below:
Level 1:   Quoted prices in active markets for identical assets.
Level 2:   Other significant observable inputs (including quoted prices of similar securities, interest rates, prepayment speeds, credit risk, etc).
Level 3:   Significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments).
Changes in valuation techniques may result in transfers in or out of an investment’s assigned level within the hierarchy.
The inputs or methodology used to value securities and other investments are not intended to indicate the risk associated with investing in those securities and investments.
The following is a summary of the inputs used to value the Fund’s net assets as of July 31, 2010:
                                 
Asset Type*   Level 1   Level 2   Level 3   Total
 
Assets:
                                
Exchange Traded Funds
   $ 22,548,087     $ —     $ —     $ 22,548,087  
Mutual Funds
     80,041,809       —       —       80,041,809  
 
Total
   $ 102,589,896     $ —     $ —     $ 102,589,896  
 
Amounts designated as “—” are zero or have been rounded to zero.
 
     
*   See Statement of Investments for identification of fund investments by type and classification.
For the period ended July 31, 2010 there were no significant transfers between Levels 1 and 2.
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are
included in the Fund’s audited annual report and unaudited semi-annual report.

2

 

Statement of Investments
July 31, 2010 (Unaudited)
Nationwide Destination 2025 Fund
Mutual Funds 82.2%
                 
            Market  
    Shares     Value  
 
Equity Funds 67.1%
                
Credit Suisse Commodity Return Strategy Fund, Common Class
     465,872     $ 3,848,102  
Nationwide International Index Fund, Institutional Class (a)
     2,315,833       15,423,450  
Nationwide Mid Cap Market Index Fund, Institutional Class (a)
     795,507       10,031,344  
Nationwide S&P 500 Index Fund, Institutional Class (a)
     2,830,631       26,239,950  
Nationwide Small Cap Index Fund, Institutional Class (a)
     725,841       7,243,897  
 
              
Total Equity Funds (cost $56,043,284)
             62,786,743  
 
              
Fixed Income Fund 14.1%
                
Nationwide Bond Index Fund, Institutional Class (a)
     1,145,477       13,161,527  
 
              
Total Fixed Income Fund (cost $12,585,826)
             13,161,527  
 
              
Money Market Fund 1.0%
                
Nationwide Money Market Fund, Institutional Class, 0.00% (a)(b)
     973,671       973,671  
 
              
Total Money Market Fund (cost $973,671)
             973,671  
 
              
 
                
Total Mutual Funds (cost $69,602,781)
             76,921,941  
 
              
Exchange Traded Funds 17.8%
                 
            Market  
    Shares     Value  
 
Equity Funds 7.1%
                
SPDR Dow Jones International Real Estate ETF
     27,469     $ 965,535  
Vanguard Emerging Markets Index Fund, ETF Shares
     90,390       3,784,629  
Vanguard REIT Index Fund, ETF Shares
     38,042       1,938,240  
 
              
Total Equity Funds (cost $5,274,242)
             6,688,404  
 
              
 
                
Fixed Income Funds 10.7%
                
iShares Barclays Treasury Inflation Protected Securities Bond Fund
     65,939       7,013,932  
Vanguard Short-Term Bond Index Fund, ETF Shares
     36,775       2,994,588  
 
              
Total Fixed Income Funds (cost $9,673,576)
             10,008,520  
 
              
Total Exchange Traded Funds (cost $14,947,818)
             16,696,924  
 
              
 
                
Total Investments
(cost $84,550,599) (c) — 100.0%
             93,618,865  
 
                
Liabilities in excess of other assets — 0.0%
             (38,170 )
 
              
 
                
NET ASSETS — 100.0%
           $ 93,580,695  
 
              
 
(a)   Investment in affiliate.
 
(b)   Represents 7-day effective yield as of July 31, 2010.
 
(c)   At July 31, 2010, the tax basis cost of the Fund’s investments was $88,182,456, tax unrealized appreciation and depreciation were $5,436,409 and $0, respectively.
 
ETF
  Exchange Traded Fund
 
REIT
  Real Estate Investment Trust
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are
included in the Fund’s audited annual report and unaudited semi-annual report.

1

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide Destination 2025 Fund
In accordance with the authorative guidance on fair value measurements and disclosures under GAAP, the Fund discloses the fair value of its investments in a hierarchy that prioritizes the inputs to valuation techniques used to measure the fair value. This standard defines fair value, sets out a framework for measuring fair value and expands disclosures about fair value measurements. The hierarchy gives the highest priority to readily available unadjusted quoted prices in active markets for identical assets (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements) when market prices are not readily available or reliable. The three levels of the hierarchy established are summarized below:
Level 1:   Quoted prices in active markets for identical assets.
Level 2:   Other significant observable inputs (including quoted prices of similar securities, interest rates, prepayment speeds, credit risk, etc).
Level 3:   Significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments).
Changes in valuation techniques may result in transfers in or out of an investment’s assigned level within the hierarchy.
The inputs or methodology used to value securities and other investments are not intended to indicate the risk associated with investing in those securities and investments.
The following is a summary of the inputs used to value the Fund’s net assets as of July 31, 2010:
                                 
Asset Type*   Level 1   Level 2   Level 3   Total
 
Assets:
                                
Exchange Traded Funds
   $ 16,696,924     $ —     $ —     $ 16,696,924  
Mutual Funds
     76,921,941       —       —       76,921,941  
 
Total
   $ 93,618,865     $ —     $ —     $ 93,618,865  
 
Amounts designated as “—” are zero or have been rounded to zero.
 
     
*   See Statement of Investments for identification of fund investments by type and classification.
For the period ended July 31, 2010 there were no significant transfers between Levels 1 and 2.
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

2

 

Statement of Investments
July 31, 2010 (Unaudited)
Nationwide Destination 2030 Fund
Mutual Funds 88.5%
                 
            Market  
    Shares     Value  
 
Equity Funds 75.5%
                
Credit Suisse Commodity Return Strategy Fund, Common Class
     644,735       5,325,515  
Nationwide International Index Fund, Institutional Class (a)
     3,011,963       20,059,673  
Nationwide Mid Cap Market Index Fund, Institutional Class (a)
     961,024       12,118,513  
Nationwide S&P 500 Index Fund, Institutional Class (a)
     3,350,767       31,061,606  
Nationwide Small Cap Index Fund, Institutional Class (a)
     904,343       9,025,339  
 
              
Total Equity Funds (cost $66,865,317)
             77,590,646  
 
              
Fixed Income Fund 12.0%
                
Nationwide Bond Index Fund, Institutional Class (a)
     1,074,120       12,341,644  
 
              
Total Fixed Income Fund (cost $11,786,112)
             12,341,644  
 
              
Money Market Fund 1.0%
                
Nationwide Money Market Fund, Institutional Class, 0.00% (a)(b)
     1,078,834       1,078,834  
 
              
Total Money Market Fund (cost $1,078,834)
             1,078,834  
 
              
 
Total Mutual Funds (cost $79,730,263)
             91,011,124  
 
              
Exchange Traded Funds 11.5%
                 
            Market  
    Shares     Value  
 
Equity Funds 7.2%
                
SPDR Dow Jones International Real Estate ETF
     30,360       1,067,154  
Vanguard Emerging Markets Index Fund, ETF Shares
     100,120       4,192,025  
Vanguard REIT Index Fund, ETF Shares
     42,093       2,144,638  
 
              
Total Equity Funds (cost $5,179,613)
             7,403,817  
 
              
Fixed Income Fund 4.3%
                
iShares Barclays Treasury Inflation Protected Securities Bond Fund
     41,704       4,436,054  
 
              
 
Total Fixed Income Fund (cost $4,257,443)
             4,436,054  
 
              
Total Exchange Traded Funds (cost $9,437,056)
             11,839,871  
 
              
 
Total Investments
(cost $89,167,319) (c) — 100.0%
             102,850,995  
 
Liabilities in excess of other assets — 0.0%
             (28,156 )
 
              
 
NET ASSETS — 100.0%
           $ 102,822,839  
 
              
 
(a)   Investment in affiliate.
 
(b)   Represents 7-day effective yield as of July 31, 2010.
 
(c)   At July 31, 2010, the tax basis cost of the Fund’s investments was $93,382,433, tax unrealized appreciation and depreciation were $9,468,562 and $0, respectively.
 
ETF   Exchange Traded Fund
 
REIT   Real Estate Investment Trust
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

1

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide Destination 2030 Fund
In accordance with the authorative guidance on fair value measurements and disclosures under GAAP, the Fund discloses the fair value of its investments in a hierarchy that prioritizes the inputs to valuation techniques used to measure the fair value. This standard defines fair value, sets out a framework for measuring fair value and expands disclosures about fair value measurements. The hierarchy gives the highest priority to readily available unadjusted quoted prices in active markets for identical assets (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements) when market prices are not readily available or reliable. The three levels of the hierarchy established are summarized below:
Level 1:    Quoted prices in active markets for identical assets.
Level 2:    Other significant observable inputs (including quoted prices of similar securities, interest rates, prepayment speeds, credit risk, etc).
Level 3:    Significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments).
Changes in valuation techniques may result in transfers in or out of an investment’s assigned level within the hierarchy.
The inputs or methodology used to value securities and other investments are not intended to indicate the risk associated with investing in those securities and investments.
The following is a summary of the inputs used to value the Fund’s net assets as of July 31, 2010:
                                 
Asset Type*   Level 1   Level 2   Level 3   Total
 
Assets:
                                
Exchange Traded Funds
   $ 11,839,871     $ —     $ —     $ 11,839,871  
Mutual Funds
     91,011,124       —       —       91,011,124  
 
Total
   $ 102,850,995     $ —     $ —     $ 102,850,995  
 
     
Amounts designated as “—” are zero or have been rounded to zero.
 
 
*   See Statement of Investments for identification of fund investments by type and classification.
 
For the period ended July 31, 2010 there were no significant transfers between Levels 1 and 2.
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

2

 

Statement of Investments
July 31, 2010 (Unaudited)
Nationwide Destination 2035 Fund
Mutual Funds 90.7%
                 
            Market
    Shares     Value
 
Equity Funds 78.7%
                
Credit Suisse Commodity Return Strategy Fund, Common Class
     296,513       2,449,193  
Nationwide International Index Fund, Institutional Class (a)
     1,527,846       10,175,455  
Nationwide Mid Cap Market Index Fund, Institutional Class (a)
     478,696       6,036,355  
Nationwide S&P 500 Index Fund, Institutional Class (a)
     1,492,261       13,833,260  
Nationwide Small Cap Index Fund, Institutional Class (a)
     461,937       4,610,131  
 
                
Total Equity Funds (cost $33,813,862)
             37,104,394  
 
                
Fixed Income Fund 10.9%
                
Nationwide Bond Index Fund, Institutional Class (a)
     447,930       5,146,713  
 
                
Total Fixed Income Fund (cost $4,928,424)
             5,146,713  
 
                
Money Market Fund 1.1%
                
Nationwide Money Market Fund, Institutional Class, 0.00% (a)(b)
     495,218       495,218  
 
                
Total Money Market Fund (cost $495,218)
             495,218  
 
                
 
Total Mutual Funds (cost $39,237,504)
             42,746,325  
 
                
Exchange Traded Funds 9.3%
                 
            Market  
    Shares     Value  
 
Equity Funds 9.3%
                
SPDR Dow Jones International Real Estate ETF
     27,846       978,787  
Vanguard Emerging Markets Index Fund, ETF Shares
     57,308       2,399,486  
Vanguard REIT Index Fund, ETF Shares
     19,263       981,450  
 
              
Total Equity Funds (cost $3,516,756)
             4,359,723  
 
              
Total Exchange Traded Funds (cost $3,516,756)
             4,359,723  
 
              
 
Total Investments
(cost $42,754,260) (c) — 100.0%
             47,106,048  
 
                
Other assets in excess of liabilities — 0.0%
             2,031  
 
              
 
NET ASSETS — 100.0%
           $ 47,108,079  
 
              
 
(a)   Investment in affiliate.
 
(b)   Represents 7-day effective yield as of July 31, 2010.
 
(c)   At July 31, 2010, the tax basis cost of the Fund’s investments was $44,746,205, tax unrealized appreciation and depreciation were $2,359,843 and $0, respectively.
 
    
ETF
  Exchange Traded Fund
 
    
REIT
  Real Estate Investment Trust
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

1

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide Destination 2035 Fund
In accordance with the authorative guidance on fair value measurements and disclosures under GAAP, the Fund discloses the fair value of its investments in a hierarchy that prioritizes the inputs to valuation techniques used to measure the fair value. This standard defines fair value, sets out a framework for measuring fair value and expands disclosures about fair value measurements. The hierarchy gives the highest priority to readily available unadjusted quoted prices in active markets for identical assets (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements) when market prices are not readily available or reliable. The three levels of the hierarchy established are summarized below:
Level 1:   Quoted prices in active markets for identical assets.
Level 2:   Other significant observable inputs (including quoted prices of similar securities, interest rates, prepayment speeds, credit risk, etc).
Level 3:   Significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments).
Changes in valuation techniques may result in transfers in or out of an investment’s assigned level within the hierarchy.
The inputs or methodology used to value securities and other investments are not intended to indicate the risk associated with investing in those securities and investments.
The following is a summary of the inputs used to value the Fund’s net assets as of July 31, 2010:
                                 
Asset Type*   Level 1   Level 2   Level 3   Total
 
Assets:
                                
Exchange Traded Funds
   $ 4,359,723     $ —     $ —     $ 4,359,723  
Mutual Funds
     42,746,325       —       —       42,746,325  
 
Total
   $ 47,106,048     $ —     $ —     $ 47,106,048  
 
Amounts designated as “—” are zero or have been rounded to zero.
 
*       See Statement of Investments for identification of fund investments by type and classification.
For the period ended July 31, 2010 there were no significant transfers between Levels 1 and 2.
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

2

 

Statement of Investments
July 31, 2010 (Unaudited)
Nationwide Destination 2040 Fund
Mutual Funds 89.7%
                 
            Market
    Shares     Value
 
Equity Funds 82.0%
                
Credit Suisse Commodity Return Strategy Fund, Common Class
     252,443       2,085,177  
Nationwide International Index Fund, Institutional Class (a)
     1,358,057       9,044,661  
Nationwide Mid Cap Market Index Fund, Institutional Class (a)
     407,659       5,140,579  
Nationwide S&P 500 Index Fund, Institutional Class (a)
     1,270,790       11,780,224  
Nationwide Small Cap Index Fund, Institutional Class (a)
     472,124       4,711,802  
 
                
Total Equity Funds (cost $29,416,875)
             32,762,443  
 
                
Fixed Income Fund 6.6%
                
Nationwide Bond Index Fund, Institutional Class (a)
     228,911       2,630,190  
 
                
Total Fixed Income Fund (cost $2,524,083)
             2,630,190  
 
                
Money Market Fund 1.1%
                
Nationwide Money Market Fund, Institutional Class, 0.00% (a)(b)
     421,717       421,717  
 
                
Total Money Market Fund (cost $421,717)
             421,717  
 
                
 
Total Mutual Funds (cost $32,362,675)
             35,814,350  
 
                
Exchange Traded Funds 10.3%
                 
            Market  
    Shares     Value  
 
Equity Funds 10.3%
                
SPDR Dow Jones International Real Estate ETF
     23,765       835,340  
Vanguard Emerging Markets Index Fund, ETF Shares
     58,684       2,457,099  
Vanguard REIT Index Fund, ETF Shares
     16,456       838,433  
 
              
Total Equity Funds (cost $3,279,492)
             4,130,872  
 
              
Total Exchange Traded Funds (cost $3,279,492)
             4,130,872  
 
              
 
                
Total Investments
(cost $35,642,167) (c) — 100.0%
             39,945,222  
 
                
Liabilities in excess of other assets — 0.0%
             (15,593 )
 
              
 
NET ASSETS — 100.0%
           $ 39,929,629  
 
              
 
(a)   Investment in affiliate.
 
(b)   Represents 7-day effective yield as of July 31, 2010.
 
(c)   At July 31, 2010, the tax basis cost of the Fund’s investments was $37,382,419, tax unrealized appreciation and depreciation were $2,562,803 and $0, respectively.
 
ETF
  Exchange Traded Fund
 
REIT
  Real Estate Investment Trust
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

1

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide Destination 2040 Fund
In accordance with the authorative guidance on fair value measurements and disclosures under GAAP, the Fund discloses the fair value of its investments in a hierarchy that prioritizes the inputs to valuation techniques used to measure the fair value. This standard defines fair value, sets out a framework for measuring fair value and expands disclosures about fair value measurements. The hierarchy gives the highest priority to readily available unadjusted quoted prices in active markets for identical assets (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements) when market prices are not readily available or reliable. The three levels of the hierarchy established are summarized below:
Level 1:   Quoted prices in active markets for identical assets.
Level 2:   Other significant observable inputs (including quoted prices of similar securities, interest rates, prepayment speeds, credit risk, etc).
Level 3:   Significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments).
Changes in valuation techniques may result in transfers in or out of an investment’s assigned level within the hierarchy.
The inputs or methodology used to value securities and other investments are not intended to indicate the risk associated with investing in those securities and investments.
The following is a summary of the inputs used to value the Fund’s net assets as of July 31, 2010:
                                 
Asset Type*   Level 1   Level 2   Level 3   Total
 
Assets:
                                
Exchange Traded Funds
   $ 4,130,872     $ —     $ —     $ 4,130,872  
Mutual Funds
     35,814,350       —       —       35,814,350  
 
Total
   $ 39,945,222     $ —     $ —     $ 39,945,222  
 
Amounts designated as “—” are zero or have been rounded to zero.
 
* See Statement of Investments for identification of fund investments by type and classification.
For the period ended July 31, 2010 there were no significant transfers between Levels 1 and 2.
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

2

 

Statement of Investments
July 31, 2010 (Unaudited)
Nationwide Destination 2045 Fund
Mutual Funds 88.6%
                 
            Market
    Shares     Value
 
Equity Funds 82.1%
                
Credit Suisse Commodity Return Strategy Fund, Common Class
     119,002       982,952  
Nationwide International Index Fund, Institutional Class (a)
     641,613       4,273,142  
Nationwide Mid Cap Market Index Fund, Institutional Class (a)
     192,264       2,424,450  
Nationwide S&P 500 Index Fund, Institutional Class (a)
     599,225       5,554,815  
Nationwide Small Cap Index Fund, Institutional Class (a)
     222,682       2,222,367  
 
                
Total Equity Funds (cost $13,802,304)
             15,457,726  
 
                
Fixed Income Fund 5.4%
                
Nationwide Bond Index Fund, Institutional Class (a)
     89,769       1,031,450  
 
                
Total Fixed Income Fund (cost $991,986)
             1,031,450  
 
                
Money Market Fund 1.1%
                
Nationwide Money Market Fund, Institutional Class, 0.00% (a)(b)
     198,529       198,529  
 
                
Total Money Market Fund (cost $198,529)
             198,529  
 
                
 
Total Mutual Funds (cost $14,992,819)
             16,687,705  
 
                
Exchange Traded Funds 11.4%
                 
            Market  
    Shares     Value  
 
Equity Funds 11.4%
                
SPDR Dow Jones International Real Estate ETF
     11,217       394,278  
Vanguard Emerging Markets Index Fund, ETF Shares
     27,743       1,161,599  
Vanguard REIT Index Fund, ETF Shares
     11,640       593,058  
 
              
Total Equity Funds (cost $1,700,087)
             2,148,935  
 
              
Total Exchange Traded Funds (cost $1,700,087)
             2,148,935  
 
              
 
Total Investments
(cost $16,692,906) (c) — 100.0%
             18,836,640  
 
                
Liabilities in excess of other assets — 0.0%
             (8,453 )
 
              
 
NET ASSETS — 100.0%
           $ 18,828,187  
 
              
 
(a)   Investment in affiliate.
 
(b)   Represents 7-day effective yield as of July 31, 2010.
 
(c)   At July 31, 2010, the tax basis cost of the Fund’s investments was $18,002,023, tax unrealized appreciation and depreciation were $834,617 and $0, respectively.
 
ETF
  Exchange Traded Fund
 
REIT
  Real Estate Investment Trust
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

1

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide Destination 2045 Fund
In accordance with the authorative guidance on fair value measurements and disclosures under GAAP, the Fund discloses the fair value of its investments in a hierarchy that prioritizes the inputs to valuation techniques used to measure the fair value. This standard defines fair value, sets out a framework for measuring fair value and expands disclosures about fair value measurements. The hierarchy gives the highest priority to readily available unadjusted quoted prices in active markets for identical assets (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements) when market prices are not readily available or reliable. The three levels of the hierarchy established are summarized below:
Level 1:   Quoted prices in active markets for identical assets.
Level 2:   Other significant observable inputs (including quoted prices of similar securities, interest rates, prepayment speeds, credit risk, etc).
Level 3:   Significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments).
Changes in valuation techniques may result in transfers in or out of an investment’s assigned level within the hierarchy.
The inputs or methodology used to value securities and other investments are not intended to indicate the risk associated with investing in those securities and investments.
The following is a summary of the inputs used to value the Fund’s net assets as of July 31, 2010:
                                 
Asset Type*   Level 1   Level 2   Level 3   Total
 
Assets:
                                
Exchange Traded Funds
   $ 2,148,935     $ —     $ —     $ 2,148,935  
Mutual Funds
     16,687,705       —       —       16,687,705  
 
Total
   $ 18,836,640     $ —     $ —     $ 18,836,640  
 
Amounts designated as “—” are zero or have been rounded to zero.
 
* See Statement of Investments for identification of fund investments by type and classification.
For the period ended July 31, 2010 there were no significant transfers between Levels 1 and 2.
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

2

 

Statement of Investments
July 31, 2010 (Unaudited)
Nationwide Destination 2050 Fund
Mutual Funds 87.6%
                 
            Market
    Shares     Value
 
Equity Funds 82.1%
                
Credit Suisse Commodity Return Strategy Fund, Common Class
     168,899       1,395,108  
Nationwide International Index Fund, Institutional Class (a)
     948,559       6,317,404  
Nationwide Mid Cap Market Index Fund, Institutional Class (a)
     272,859       3,440,758  
Nationwide S&P 500 Index Fund, Institutional Class (a)
     821,621       7,616,423  
Nationwide Small Cap Index Fund, Institutional Class (a)
     315,976       3,153,439  
 
                
Total Equity Funds (cost $18,269,667)
             21,923,132  
 
                
Fixed Income Fund 4.4%
                
Nationwide Bond Index Fund, Institutional Class (a)
     102,343       1,175,916  
 
                
Total Fixed Income Fund (cost $1,126,756)
             1,175,916  
 
                
Money Market Fund 1.1%
                
Nationwide Money Market Fund, Institutional Class, 0.00% (a)(b)
     282,645       282,645  
 
                
Total Money Market Fund (cost $282,645)
             282,645  
 
                
 
Total Mutual Funds (cost $19,679,068)
             23,381,693  
 
                
Exchange Traded Funds 12.4%
                 
            Market  
    Shares     Value  
 
Equity Funds 12.4%
                
SPDR Dow Jones International Real Estate ETF
     15,880       558,182  
Vanguard Emerging Markets Index Fund, ETF Shares
     45,751       1,915,594  
Vanguard REIT Index Fund, ETF Shares
     16,505       840,930  
 
              
Total Equity Funds (cost $2,435,733)
             3,314,706  
 
              
Total Exchange Traded Funds (cost $2,435,733)
             3,314,706  
 
              
 
                
Total Investments
(cost $22,114,801) (c) — 100.0%
             26,696,399  
 
                
Liabilities in excess of other assets — 0.0%
             (5,418 )
 
              
 
                
NET ASSETS — 100.0%
           $ 26,690,981  
 
              
 
(a)   Investment in affiliate.
 
(b)   Represents 7-day effective yield as of July 31, 2010.
 
(c)   At July 31, 2010, the tax basis cost of the Fund’s investments was $23,376,145, tax unrealized appreciation and depreciation were $3,320,254 and $0, respectively.
 
ETF   Exchange Traded Fund
 
REIT   Real Estate Investment Trust
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

1

 

Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide Destination 2050 Fund
In accordance with the authorative guidance on fair value measurements and disclosures under GAAP, the Fund discloses the fair value of its investments in a hierarchy that prioritizes the inputs to valuation techniques used to measure the fair value. This standard defines fair value, sets out a framework for measuring fair value and expands disclosures about fair value measurements. The hierarchy gives the highest priority to readily available unadjusted quoted prices in active markets for identical assets (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements) when market prices are not readily available or reliable. The three levels of the hierarchy established are summarized below:
Level 1: Quoted prices in active markets for identical assets.
Level 2: Other significant observable inputs (including quoted prices of similar securities, interest rates, prepayment speeds, credit risk, etc).
Level 3: Significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments).
Changes in valuation techniques may result in transfers in or out of an investment’s assigned level within the hierarchy.
The inputs or methodology used to value securities and other investments are not intended to indicate the risk associated with investing in those securities and investments.
The following is a summary of the inputs used to value the Fund’s net assets as of July 31, 2010:
                                 
Asset Type*   Level 1   Level 2   Level 3   Total
 
Assets:
                                
Exchange Traded Funds
   $ 3,314,706     $ —     $ —     $ 3,314,706  
Mutual Funds
     23,381,693       —       —       23,381,693  
 
Total
   $ 26,696,399     $ —     $ —     $ 26,696,399  
 
Amounts designated as “—” are zero or have been rounded to zero.
 
*   See Statement of Investments for identification of fund investments by type and classification.
For the period ended July 31, 2010 there were no significant transfers between Levels 1 and 2.
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

2

 

Statement of Investments
July 31, 2010 (Unaudited)
Nationwide Retirement Income Fund
Mutual Funds 54.8%
                 
            Market
    Shares     Value
 
Equity Funds 26.3%
                
Credit Suisse Commodity Return Strategy Fund, Common Class
     78,527       648,636  
Nationwide International Index Fund, Institutional Class (a)
     153,054       1,019,342  
Nationwide Mid Cap Market Index Fund, Institutional Class (a)
     32,451       409,209  
Nationwide S&P 500 Index Fund, Institutional Class (a)
     394,501       3,657,024  
 
                
Total Equity Funds (cost $5,234,021)
             5,734,211  
 
                
Fixed Income Funds 17.5%
                
Nationwide Bond Index Fund, Institutional Class (a)
     138,824       1,595,081  
Oppenheimer International Bond Fund, Class Y
     274,049       1,778,578  
T. Rowe Price Institutional High Yield Fund
     46,055       443,971  
 
                
Total Fixed Income Funds (cost $3,618,799)
             3,817,630  
 
                
Money Market Fund 11.0%
                
Nationwide Money Market Fund, Institutional Class, 0.00% (a)(b)
     2,410,128       2,410,128  
 
                
Total Money Market Fund (cost $2,410,128)
             2,410,128  
 
                
 
Total Mutual Funds (cost $11,262,948)
             11,961,969  
 
                
Exchange Traded Funds 44.9%
                 
            Market  
    Shares     Value  
 
Equity Funds 2.0%
                
SPDR Dow Jones International Real Estate ETF
     6,128       215,399  
Vanguard REIT Index Fund, ETF Shares
     4,232       215,621  
 
              
 
Total Equity Funds (cost $355,946)
             431,020  
 
              
 
Fixed Income Funds 42.9%
                
iShares Barclays Treasury Inflation Protected Securities Bond Fund
     50,483       5,369,876  
Vanguard Short-Term Bond Index Fund, ETF Shares
     49,288       4,013,522  
 
              
 
Total Fixed Income Funds (cost $9,106,820)
             9,383,398  
 
              
Total Exchange Traded Funds (cost $9,462,766)
             9,814,418  
 
              
 
                
Total Investments
(cost $20,725,714) (c) — 99.7%
             21,776,387  
 
                
Other assets in excess of liabilities — 0.3%
             65,017  
 
              
 
                
NET ASSETS — 100.0%
           $ 21,841,404  
 
              
 
(a)   Investment in affiliate.
 
(b)   Represents 7-day effective yield as of July 31, 2010.
 
(c)   At July 31, 2010, the tax basis cost of the Fund’s investments was $21,322,620, tax unrealized appreciation and depreciation were $453,767 and $0, respectively.
 
ETF   Exchange Traded Fund
 
REIT   Real Estate Investment Trust
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

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Statement of Investments (Continued)
July 31, 2010 (Unaudited)
Nationwide Retirement Income Fund
In accordance with the authorative guidance on fair value measurements and disclosures under GAAP, the Fund discloses the fair value of its investments in a hierarchy that prioritizes the inputs to valuation techniques used to measure the fair value. This standard defines fair value, sets out a framework for measuring fair value and expands disclosures about fair value measurements. The hierarchy gives the highest priority to readily available unadjusted quoted prices in active markets for identical assets (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements) when market prices are not readily available or reliable. The three levels of the hierarchy established are summarized below:
Level 1:   Quoted prices in active markets for identical assets.
Level 2:   Other significant observable inputs (including quoted prices of similar securities, interest rates, prepayment speeds, credit risk, etc).
Level 3:   Significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments).
Changes in valuation techniques may result in transfers in or out of an investment’s assigned level within the hierarchy.
The inputs or methodology used to value securities and other investments are not intended to indicate the risk associated with investing in those securities and investments.
The following is a summary of the inputs used to value the Fund’s net assets as of July 31, 2010:
                                 
Asset Type*   Level 1   Level 2   Level 3   Total
 
Assets:
                                
Exchange Traded Funds
   $ 9,814,418     $ —     $ —     $ 9,814,418  
Mutual Funds
     11,961,969       —       —       11,961,969  
 
Total
   $ 21,776,387     $ —     $ —     $ 21,776,387  
 
Amounts designated as “—” are zero or have been rounded to zero.
 
*   See Statement of Investments for identification of fund investments by type and classification.
For the period ended July 31, 2010 there were no significant transfers between Levels 1 and 2.
The Statement of Investments should be read in conjunction with the financial statements and notes to financial statements which are included in the Fund’s audited annual report and unaudited semi-annual report.

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Item 2. Controls and Procedures.
(a)   Disclose the conclusions of the registrant’s principal executive and principal financial officers, or persons performing similar functions, regarding the effectiveness of the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Act (17 CFR § 270.30a-3(c))) as of a date within 90 days of the filing date of the report that includes the disclosure required by this paragraph, based on the evaluation of these controls and procedures required by Rule 30a-3(b) under the Act (17 CFR § 270.30a-3(b)) and Rule 13a-15(b) or Rule 15d-15(b) under the Exchange Act (17 CFR § 240.13a-15(b) or § 240.15d-15(b)).
 
    The registrant’s principal executive officer and principal financial officer have concluded, based on their evaluation of the registrant’s disclosure controls and procedures, as conducted within 90 days of the filing date of this report, that these disclosure controls and procedures are adequately designed and are operating effectively to ensure that information required to be disclosed by the registrant on Form N-Q is recorded, processed, summarized, and reported within the time periods specified in the Securities and Exchange Commission’s rules and forms.
 
(b)   Disclose any 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)) that occurred during the registrant’s last fiscal quarter that has materially affected, or is reasonably likely materially to affect, the registrant’s internal control over financial reporting.
 
    There were no changes in the registrant’s internal control over financial reporting that occurred during the registrant’s most-recent fiscal quarter that have materially affected, or are reasonably likely materially to affect, the registrant’s internal control over financial reporting.
Item 3. Exhibits.
File as exhibits as part of this Form 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)). Certifications pursuant to Rule 30a-2(a) are attached hereto.

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SIGNATURES
     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.
         
(Registrant)
  NATIONWIDE MUTUAL FUNDS    
 
        
By (Signature and Title)
  /s/ Joseph A. Finelli
 
Name: Joseph A. Finelli 		   
 
  Title: Principal Financial Officer    
 
  Date: September 24, 2010    
     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.
         
By (Signature and Title)
  /s/ Michael S. Spangler
 
Name: Michael S. Spangler 		   
 
  Title: Principal Executive Officer    
 
  Date: September 24, 2010    
 
        
By (Signature and Title)
  /s/ Joseph A. Finelli    
 
       
 
  Name: Joseph A. Finelli    
 
  Title: Principal Financial Officer    
 
  Date: September 24, 2010    

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