N-Q 1 dnq.htm PRUDENTIAL INVESTMENT PORTFOLIOS 5 Prudential Investment Portfolios 5

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED

MANAGEMENT INVESTMENT COMPANIES

 

Investment Company Act file number:    811-09439
Exact name of registrant as specified in charter:    Prudential Investment Portfolios 5
Address of principal executive offices:    Gateway Center 3,
   100 Mulberry Street,
   Newark, New Jersey 07102
Name and address of agent for service:    Deborah A. Docs
   Gateway Center 3,
   100 Mulberry Street,
   Newark, New Jersey 07102

Registrant’s telephone number, including area code:

    800-225-1852

Date of fiscal year end:

    7/31/2011

Date of reporting period:

    4/30/2011

 

 

 

Item 1. Schedule of Investments

Prudential Investment Portfolios 5

Prudential Jennison Conservative Growth Fund

Schedule of Investments

as of April 30, 2011 (Unaudited)

 

Shares

   

Description

   

Value

LONG-TERM INVESTMENTS — 98.9%

   

COMMON STOCKS

   

Aerospace & Defense — 2.0%

   
7,878    Precision Castparts Corp.    $     1,217,309
38,432   

United Technologies Corp.

    3,442,738
       
      4,660,047
       

Automobiles — 2.2%

   
57,307   

Bayerische Motoren Werke AG (Germany), ADR

    1,796,575
204,226   

Ford Motor Co.(a)(b)

    3,159,376
       
      4,955,951
       

Beverages — 1.3%

   
45,540   

Coca-Cola Co. (The)

    3,072,128
       

Biotechnology — 0.3%

   
9,612   

Celgene Corp.(b)

    565,955
       

Capital Markets — 5.9%

   
48,540   

Ameriprise Financial, Inc.

    3,012,392
25,975   

Franklin Resources, Inc.

    3,353,892
26,340   

Goldman Sachs Group, Inc. (The)

    3,977,604
121,205   

Morgan Stanley

    3,169,511
       
      13,513,399
       

Chemicals — 1.8%

   
47,715   

E.I. du Pont de Nemours & Co.

    2,709,735
21,332   

Monsanto Co.

    1,451,429
       
      4,161,164
       

Communications Equipment — 2.5%

   
66,106   

Juniper Networks, Inc.(b)

    2,533,843
56,298   

QUALCOMM, Inc.

    3,199,978
       
      5,733,821
       

Computers & Peripherals — 4.4%

   
20,980   

Apple, Inc.(b)

    7,305,865
100,646   

Dell, Inc.(b)

    1,561,020
21,295   

NetApp, Inc.(b)

    1,106,914
       
      9,973,799
       

Consumer Finance — 3.0%

   
138,951   

American Express Co.

    6,819,715
       

Diversified Telecommunication Services — 0.5%

   
130,502   

Frontier Communications Corp.

    1,079,252
       

Electric Utilities — 1.3%

   
42,609   

ITC Holdings Corp.

    3,022,256
       

Electronic Equipment & Instruments — 1.5%

   
160,313   

Corning, Inc.

    3,356,954
       

Energy Equipment & Services — 3.5%

   
88,743   

Schlumberger Ltd.

    7,964,684
       

Food & Staples Retailing — 4.7%

   
77,852   

CVS Caremark Corp.

    2,821,357
135,285   

Kroger Co. (The)

    3,288,778
63,381   

Wal-Mart Stores, Inc.

    3,484,687
18,562   

Whole Foods Market, Inc.

    1,164,951
       
      10,759,773
       

Food Products — 1.5%

   
89,677   

General Mills, Inc.

    3,459,739
       

Healthcare Providers & Services — 1.8%

   
70,398   

Cardinal Health, Inc.

    3,075,689
18,815   

Express Scripts, Inc.(b)

    1,067,563
       
      4,143,252
       

Hotels, Restaurants & Leisure — 1.9%

   
68,081   

Carnival Corp.

    2,591,844
25,165   

Las Vegas Sands Corp.(b)

    1,183,007
14,786   

Starbucks Corp.

    535,105
       
      4,309,956
       

Household Products — 0.7%

   
26,170   

Procter & Gamble Co. (The)

    1,698,433
       

Independent Power Producers & Energy Traders — 1.7%

   
198,078   

Calpine Corp.(b)

    3,317,807
26,017   

Ormat Technologies, Inc.(a)

    647,823
       
      3,965,630
       

Industrial Conglomerates — 1.4%

   
155,712   

General Electric Co.

    3,184,310
       

Insurance — 5.8%

   
44,388   

ACE Ltd.

    2,985,093
23,984   

Aflac, Inc.

    1,347,661
51,617   

AON Corp.

    2,692,859
108,862   

Hartford Financial Services Group, Inc.

    3,153,732
50,927   

Travelers Cos., Inc. (The)

    3,222,661
       
      13,402,006
       

Internet & Catalog Retail — 3.0%

   
31,183   

Amazon.com, Inc.(b)

    6,127,460
1,442   

priceline.com, Inc.(b)

    788,788
       
      6,916,248
       

Internet Software & Services — 3.1%

   
21,636   

Baidu, Inc. (China), ADR(b)

    3,213,379
5,064   

Google, Inc. (Class A Stock)(b)

    2,755,322
41,468   

Tencent Holdings Ltd. (China), ADR

    1,181,838
       
      7,150,539
       

IT Services — 2.6%

   
23,920   

International Business Machines Corp.

    4,080,273
6,883   

Mastercard, Inc. (Class A Stock)

    1,898,951
       
      5,979,224
       

Life Sciences Tools & Services — 0.6%

   
20,738   

Illumina, Inc.(a)(b)

    1,471,983
       

Machinery 3.2%

   
6,970   

Deere & Co.

    679,575
48,021   

Eaton Corp.

    2,570,564
56,646   

Ingersoll-Rand PLC(a)

    2,860,623
13,048   

Parker Hannifin Corp.

    1,230,687
       
      7,341,449
       

Media — 3.5%

   
77,714   

CBS Corp. (Class B Stock)

    1,959,947
63,455   

Time Warner, Inc.

    2,402,406
87,185   

Walt Disney Co. (The)

    3,757,674
       
      8,120,027
       

Metals & Mining — 1.8%

   
27,242   

Freeport-McMoRan Copper & Gold, Inc.

    1,499,127
44,609   

Newmont Mining Corp.

    2,614,534
       
      4,113,661
       

Multiline Retail — 0.5%

   
24,516   

Target Corp.

    1,203,736
       

Oil, Gas & Consumable Fuels — 5.3%

28,031   

Chevron Corp.

    3,067,713
38,924   

ConocoPhillips

    3,072,271
39,018   

Exxon Mobil Corp.

    3,433,584
22,780   

Occidental Petroleum Corp.

    2,603,526
       
      12,177,094
       

Pharmaceuticals — 8.1%

93,502   

Eli Lilly & Co.

    3,460,509
55,539   

Johnson & Johnson

    3,650,023
12,106   

Novo Nordisk A/S (Denmark), ADR

    1,542,183
286,157   

Pfizer, Inc.

    5,997,851
26,276   

Shire PLC (Ireland), ADR

    2,449,186
34,260   

Teva Pharmaceutical Industries Ltd. (Israel), ADR

    1,566,710
       
      18,666,462
       

Real Estate Investment Trusts — 0.3%

9,719   

Equity Residential

    580,419
       

Road & Rail — 2.1%

   
45,453   

Union Pacific Corp.

    4,703,022
       

Semiconductors & Semiconductor Equipment — 3.5%

21,954   

Broadcom Corp. (Class A Stock)

    772,342
167,548   

Intel Corp.

    3,885,438
96,525   

Texas Instruments, Inc.

    3,429,533
       
      8,087,313
       

Software — 4.5%

129,672   

Microsoft Corp.

    3,374,066
141,845   

Oracle Corp.

    5,113,512
7,635   

Salesforce.com, Inc.(b)

    1,058,211
8,340   

VMware, Inc. (Class A Stock)(b)

    795,886
       
      10,341,675
       

Specialty Retail — 0.9%

62,574   

Best Buy Co., Inc.

    1,953,560
       

Textiles, Apparel & Luxury Goods — 3.7%

26,118   

Burberry Group PLC (United Kingdom), ADR

    1,155,722
30,972   

Coach, Inc.

    1,852,435
29,632   

LVMH Moet Hennessy Louis Vuitton SA (France), ADR

    1,066,456
41,993   

NIKE, Inc. (Class B Stock)

    3,456,864
7,399   

Polo Ralph Lauren Corp.

    967,567
       
      8,499,044
       

Wireless Telecommunication Services — 2.5%

107,252   

American Tower Corp. (Class A Stock)(b)

    5,610,352
       

  

TOTAL LONG-TERM INVESTMENTS
(cost $183,505,695)

    226,718,032
       

SHORT-TERM INVESTMENT — 4.1%

   

Affiliated Money Market Mutual Fund

   
9,503,221   

Prudential Investment Portfolios 2 — Prudential Core Taxable Money Market Fund
(cost $9,503,221; includes $6,366,786 of cash collateral received for securities on
loan)(c)(d)

    9,503,221
       
  

TOTAL INVESTMENTS — 103.0%
(cost $193,008,916)(e)

    236,221,253
  

LIABILITIES IN EXCESS OF OTHER ASSETS — (3.0%)

    (6,899,219)
       
  

NET ASSETS — 100.0%

    $229,322,034
       

 

The following abbreviation is used in the portfolio descriptions:

ADR—American Depositary Receipt

(a) All or a portion of security is on loan. The aggregate market value of such securities, including those sold and pending settlement, is $6,190,698; cash collateral of $6,366,786 (included in liabilities) was received with which the Fund purchased highly liquid short-term investments.
(b) Non-income producing security.
(c) Prudential Investments LLC, the manager of the Fund, also serves as manager of the Prudential Investment Portfolios 2 — Prudential Core Taxable Money Market Fund.
(d) Represents security, or a portion thereof, purchased with cash collateral received for securities on loan.
(e) The United States federal income tax basis of the Fund’s investments and the net unrealized appreciation as of April 30, 2011 were as follows:

 

Tax Basis of
Investments		     Appreciation     Depreciation     Net Unrealized
Appreciation		  
$ 195,013,155      $ 42,033,584      $ (825,486 )    $ 41,208,098   

The difference between the book basis and the tax basis was primarily attributable to deferred losses on wash sales as of the most recent fiscal year end.

Various inputs are used in determining the value of the Fund's investments. These inputs are summarized in the three broad levels listed below.

Level 1 - quoted prices generally for stocks, exchange traded funds, options and futures traded in active markets for identical securities, and mutual funds which trade at daily net asset value.

Level 2 - other significant observable inputs (including, but not limited to, quoted prices for similar securities, interest rates, prepayment speeds, foreign currency exchange rates and amortized cost) generally for debt securities, swaps, forward foreign currency contracts and for foreign stocks priced using vendor modeling tools.

Level 3 - significant unobservable inputs for securities valued in accordance with Board approved fair valuation procedures.

The following is a summary of the inputs used as of April 30, 2011 in valuing such portfolio securities:

 

     Level 1      Level 2      Level 3  

Investments in Securities

         

Common Stocks

    $  226,718,032       $ —         $ —     

Affiliated Money Market Mutual Fund

      9,503,221         —           —     
                          

Total

    $ 236,221,253       $ —         $ —     
                          

Prudential Investment Portfolios 5

Prudential Small Cap Value Fund

Schedule of Investments

as of April 30, 2011 (Unaudited)

 

Shares

   

Description

   

Value

LONG-TERM INVESTMENTS— 99.5%

COMMON STOCKS — 99.2%

Aerospace & Defense — 2.2%

13,400   

AAR Corp.

    $       348,936
14,700   

Aerovironment, Inc.*

    421,155
2,700   

American Science & Engineering, Inc.

    237,870
700   

Astronics Corp.*

    18,200
10,500   

Ceradyne, Inc.*

    492,030
8,400   

Cubic Corp.

    454,272
29,200   

Curtiss-Wright Corp.

    970,900
12,300   

Ducommun, Inc.

    279,825
15,400   

Esterline Technologies Corp.*

    1,105,720
52,400   

GenCorp, Inc.*

    342,172
5,200   

LMI Aerospace, Inc.*

    104,260
700   

Moog, Inc. (Class A Stock)*

    30,884
2,400   

Teledyne Technologies, Inc.*

    121,176
       
   4,927,400
       

Air Freight & Logistics — 0.5%

   
31,100   

Air Transport Services Group, Inc.*

    254,398
11,200   

Atlas Air Worldwide Holdings, Inc.*

    771,792
1,100   

Park Ohio Holdings Corp.*

    23,452
       
   1,049,642
       

Airlines — 1.2%

   
14,000   

Alaska Air Group, Inc.*

    922,180
64,100   

Hawaiian Holdings, Inc.*(a)

    374,985
5,800   

Pinnacle Airlines Corp.*

    31,610
54,000   

Republic Airways Holdings, Inc.*

    291,330
38,800   

SkyWest, Inc.

    641,364
46,800   

US Airways Group, Inc.*(a)

    425,412
       
   2,686,881
       

Auto Components — 0.8%

   
16,800   

American Axle & Manufacturing Holdings, Inc.*

    215,040
5,200   

Drew Industries, Inc.

    125,164
14,100   

Exide Technologies*

    141,564
43,000   

Spartan Motors, Inc.

    290,680
23,600   

Standard Motor Products, Inc.

    336,300
26,300   

Superior Industries International, Inc.

    664,601
       
   1,773,349
       

Beverages — 0.2%

   
2,200   

Boston Beer Co., Inc. (Class A Stock)*

    207,372
3,200   

Coca-Cola Bottling Co. Consolidated

    225,440
       
   432,812
       

Biotechnology — 0.4%

   
28,500   

Emergent Biosolutions, Inc.*

    661,485
24,800   

PDL BioPharma, Inc.

    159,216

2,800   

Regeneron Pharmaceuticals, Inc.*

    143,108
       
   963,809
       

Building Products — 0.4%

   
4,000   

Ameron International Corp.

    281,360
24,400   

Gibraltar Industries, Inc.*

    284,992
11,800   

Quanex Building Products Corp.

    247,328
       
   813,680
       

Capital Markets — 1.4%

   
24,300   

BGC Partners, Inc. (Class A Stock)

    234,495
20,900   

Calamos Asset Management, Inc. (Class A Stock)

    340,043
32,400   

GFI Group, Inc.

    165,564
41,000   

Investment Technology Group, Inc.*

    701,510
1,900   

JMP Group, Inc.

    16,340
20,100   

Knight Capital Group, Inc. (Class A Stock)*

    275,772
3,300   

Oppenheimer Holdings, Inc. (Class A Stock)

    101,343
14,200   

optionsXpress Holdings, Inc.

    261,848
19,000   

Piper Jaffray Cos.*

    681,150
10,100   

Raymond James Financial, Inc.

    378,750
10,400   

SWS Group, Inc.

    63,440
       
   3,220,255
       

Chemicals — 2.6%

   
10,600   

Arch Chemicals, Inc.

    409,902
7,000   

Cytec Industries, Inc.

    410,760
31,200   

Fuller (H.B.) Co.

    681,720
15,700   

Grace, (W.R.) & Co.*

    712,152
7,700   

Innophos Holdings, Inc.

    356,818
600   

Koppers Holdings, Inc.

    27,438
18,100   

LSB Industries, Inc.*

    730,335
21,500   

Olin Corp.

    553,410
17,200   

OM Group, Inc.*

    623,328
40,600   

PolyOne Corp.

    587,888
14,800   

RPM International, Inc.

    347,800
14,300   

Schulman, (A.), Inc.

    362,076
3,600   

TPC Group, Inc.*

    141,984
       
   5,945,611
       

Commercial Banks — 8.0%

   
3,700   

BancFirst Corp.

    148,999
22,400   

Banco Latinoamericano de Comercio Exterior SA (Panama)

    388,864
6,900   

BancorpSouth, Inc.(a)

    93,495
9,700   

Bank of the Ozarks, Inc.(a)

    431,941
19,000   

Cathay General Bancorp

    323,950
300   

Century Bancorp, Inc. (Class A Stock)

    8,274
9,100   

Chemical Financial Corp.

    183,183
15,500   

City Holding Co.

    528,550
27,800   

Community Bank System, Inc.

    695,556
9,900   

Community Trust Bancorp, Inc.

    280,170
21,100   

CVB Financial Corp.(a)

    205,514
4,700   

East West Bancorp, Inc.

    99,311
4,700   

First BanCorp

    65,612

72,600   

First Commonwealth Financial Corp.

    450,120
10,600   

First Community Bancshares, Inc.

    157,516
30,700   

First Financial Bancorp

    505,936
600   

First Financial Corp.

    19,296
15,100   

First Merchants Corp.

    139,977
18,200   

First Midwest Bancorp, Inc.

    238,420
34,295   

FirstMerit Corp.

    599,134
15,900   

FNB Corp.

    174,105
700   

Great Southern Bancorp, Inc.

    14,490
14,170   

Home BancShares, Inc.(a)

    339,655
5,700   

IBERIABANK Corp.

    342,057
27,000   

Independent Bank Corp.(a)

    791,370
38,040   

International Bancshares Corp.

    670,265
2,400   

Nara Bancorp, Inc.*

    23,592
129,074   

National Penn Bancshares, Inc.

    1,059,697
50,400   

NBT Bancorp, Inc.

    1,139,040
36,700   

Old National Bancorp

    379,845
10,100   

PacWest Bancorp

    232,199
5,500   

Park National Corp.(a)

    379,940
43,800   

Pinnacle Financial Partners, Inc.*

    703,866
53,900   

PrivateBancorp, Inc.

    848,386
6,000   

Renasant Corp.(a)

    100,680
13,100   

Republic Bancorp, Inc. (Class A Stock)

    285,318
9,700   

S&T Bancorp, Inc.

    197,977
4,200   

Sandy Spring Bancorp, Inc.

    75,054
2,000   

SCBT Financial Corp.

    64,480
6,400   

Signature Bank*

    372,544
16,400   

Simmons First National Corp. (Class A Stock)

    432,796
5,995   

Southside Bancshares, Inc.

    130,391
4,900   

Southwest Bancorp, Inc.*

    69,482
3,700   

Suffolk Bancorp

    60,717
25,850   

Susquehanna Bancshares, Inc.

    238,337
9,500   

SVB Financial Group*(a)

    574,180
8,500   

Tompkins Financial Corp.

    346,290
2,700   

Trico Bancshares

    44,037
22,600   

Trustmark Corp.

    525,224
5,400   

UMB Financial Corp.

    227,394
51,600   

Umpqua Holdings Corp.

    599,076
17,700   

United Bankshares, Inc.(a)

    463,032
2,700   

Washington Trust Bancorp, Inc.

    63,261
14,100   

WesBanco, Inc.

    286,230
11,500   

Wintrust Financial Corp.(a)

    387,435
       
   18,206,260
       

Commercial Services & Supplies — 3.2%

   
31,800   

ACCO Brands Corp.*

    308,778
15,500   

American Reprographics Co.*

    138,725
8,900   

Brink’s Co. (The)

    293,789
13,300   

Cenveo, Inc.*

    86,184
12,200   

Consolidated Graphics, Inc.*

    685,030
20,500   

Deluxe Corp.

    555,140
15,600   

Ennis, Inc.

    291,408
28,400   

G & K Services, Inc. (Class A Stock)

    940,040
8,900   

Knoll, Inc.(a)

    174,707
14,100   

M&F Worldwide Corp.*

    353,769

17,400   

McGrath RentCorp

    493,986
5,000   

Mobile Mini, Inc.*

    124,550
12,100   

Schawk, Inc.

    228,206
37,400   

Sykes Enterprises, Inc.*

    749,122
7,500   

Tetra Tech, Inc.*

    177,150
16,200   

UniFirst Corp.

    838,512
8,800   

United Stationers, Inc.

    634,128
6,500   

Viad Corp.

    161,265
       
   7,234,489
       

Communications Equipment — 1.6%

   
45,300   

Arris Group, Inc.*

    543,600
3,400   

Bel Fuse, Inc. (Class B Stock)

    68,442
29,100   

Black Box Corp.

    1,016,754
36,900   

Comtech Telecommunications Corp.

    1,044,270
25,600   

Digi International, Inc.*

    302,336
3,400   

EchoStar Corp. (Class A Stock)*

    126,072
2,200   

InterDigital, Inc.

    101,838
1,200   

Loral Space & Communications, Inc.*

    83,880
7,700   

Plantronics, Inc.

    285,439
       
   3,572,631
       

Computers & Peripherals — 0.3%

   
41,800   

Intermec, Inc.*

    479,864
18,800   

Xyratex Ltd. (Bermuda)*

    191,948
       
   671,812
       

Construction & Engineering — 0.5%

   
2,800   

Chicago Bridge & Iron Co. NV (Netherlands)

    113,512
36,100   

Great Lakes Dredge & Dock Corp.

    268,945
8,400   

Layne Christensen Co.*

    249,984
8,300   

Sterling Construction Co, Inc.*

    124,417
15,000   

Tutor Perini Corp.

    399,900
       
   1,156,758
       

Construction Materials — 0.1%

   
51,100   

Headwaters, Inc.*

    279,006
       

Consumer Finance — 2.1%

   
51,200   

Advance America Cash Advance Centers, Inc.

    301,056
18,000   

Cash America International, Inc.

    854,100
6,089   

Credit Acceptance Corp.*

    492,600
5,550   

Dollar Financial Corp.*

    127,595
13,000   

EZCORP, Inc. (Class A Stock)*

    409,370
23,000   

First Cash Financial Services, Inc.*

    902,520
22,200   

Nelnet, Inc. (Class A Stock)

    511,266
17,100   

World Acceptance Corp.*(a)

    1,161,945
       
   4,760,452
       

Containers & Packaging — 0.4%

   
500   

AEP Industries, Inc.*

    15,165
40,300   

Boise, Inc.

    395,746

7,900    Rock-Tenn Co. (Class A Stock)(a)    545,653
       
      956,564
       

Distributors — 0.1%

3,100    Audiovox Corp. (Class A Stock)*    22,878
9,300    Core-Mark Holding Co., Inc.*    311,643
       
      334,521
       

Diversified Consumer Services — 0.9%

17,400    American Public Education, Inc.*(a)    735,150
10,600    CPI Corp.(a)    190,482
600    DeVry, Inc.    31,740
14,600    Lincoln Educational Services Corp.    243,820
2,100    Matthews International Corp. (Class A Stock)    84,294
31,400    Regis Corp.    533,800
6,900    Steiner Leisure Ltd. (Bahamas)*    334,926
       
      2,154,212
       

Diversified Telecommunication Services — 0.5%

6,400    Atlantic Tele-Network, Inc.    235,072
15,200    Cbeyond, Inc.*    193,952
9,700    General Communication, Inc. (Class A Stock)*    111,550
9,100    Neutral Tandem, Inc.*    139,139
47,300    Premiere Global Services, Inc.*    374,143
       
      1,053,856
       

Electric Utilities — 2.9%

9,800    Allete, Inc.    396,802
16,500    Central Vermont Public Service Corp.    386,265
43,200    El Paso Electric Co.*    1,338,336
13,500    Empire District Electric Co. (The)    302,940
17,400    IDACORP, Inc.    682,254
3,800    MGE Energy, Inc.    159,638
22,300    PNM Resources, Inc.    341,859
50,400    Portland General Electric Co.    1,257,984
13,200    UIL Holdings Corp.    420,024
22,200    UniSource Energy Corp.    824,286
3,800    Unitil Corp.    95,988
17,600    Westar Energy, Inc.(a)    478,896
       
      6,685,272
       

Electrical Equipment — 1.6%

26,300    Belden, Inc.    1,000,189
42,100    Brady Corp. (Class A Stock)    1,587,591
2,700    II-VI, Inc.*    156,195
1,300    Powell Industries, Inc.*    51,376
8,200    Thomas & Betts Corp.*    475,354
18,500    Vicor Corp.    309,135
       
      3,579,840
       

Electronic Equipment, Instruments & Components — 2.5%

9,100    Anixter International, Inc.(a)    683,774
8,100    Benchmark Electronics, Inc.*    136,890

78,500   

Brightpoint, Inc.*

    794,420
12,300   

Electro Rent Corp.

    193,725
16,500   

FARO Technologies, Inc.*

    712,305
54,400   

Insight Enterprises, Inc.*

    933,504
7,100   

Littelfuse, Inc.

    441,691
10,800   

Multi-Fineline Electronix, Inc.*

    287,604
18,700   

Newport Corp.*

    350,251
6,800   

Park Electrochemical Corp.

    217,396
4,700   

Rofin-Sinar Technologies, Inc.*

    203,557
22,400   

SYNNEX Corp.*(a)

    751,072
       
      5,706,189
       

Energy Equipment & Services — 3.0%

12,700   

Basic Energy Services, Inc.*

    390,398
31,400   

Bristow Group, Inc.*

    1,456,960
22,200   

Cal Dive International, Inc.*

    174,492
2,700   

Complete Production Services, Inc.*

    91,638
4,700   

Gulf Island Fabrication, Inc.

    166,098
11,400   

Gulfmark Offshore, Inc. (Class A Stock)*

    485,298
13,300   

Hornbeck Offshore Services, Inc.*

    388,759
16,700   

Matrix Service Co.*

    241,482
9,100   

Natural Gas Services Group, Inc.*

    164,073
18,900   

Oil States International, Inc.*

    1,568,889
2,900   

PHI, Inc.*

    64,902
14,000   

Pioneer Drilling Co.*

    217,000
5,100   

SEACOR Holdings, Inc.

    504,033
27,200   

TETRA Technologies, Inc.*

    401,744
7,400   

Tidewater, Inc.(a)

    440,374
       
      6,756,140
       

Food & Staples Retailing — 1.3%

11,800   

Casey’s General Stores, Inc.

    460,554
20,200   

Ingles Markets, Inc. (Class A Stock)

    384,002
13,500   

Nash-Finch Co.

    502,470
16,000   

Pantry, Inc. (The)*

    247,680
14,900   

Ruddick Corp.

    618,648
30,300   

Spartan Stores, Inc.

    472,983
9,100   

Susser Holdings Corp.*

    125,489
7,900   

Winn-Dixie Stores, Inc.*

    56,011
       
      2,867,837
       

Food Products — 1.4%

8,500   

Cal-Maine Foods, Inc.(a)

    245,565
23,100   

Chiquita Brands International, Inc.*

    367,752
3,500   

Corn Products International, Inc.

    192,850
63,900   

Darling International, Inc.*

    1,033,263
31,000   

Fresh Del Monte Produce, Inc. (Cayman Islands)

    840,410
2,200   

Hain Celestial Group, Inc. (The)*

    74,822
2,400   

Seneca Foods Corp. (Class A Stock)*

    67,104
20,400   

Smart Balance, Inc.*

    97,512
12,900   

Smithfield Foods, Inc.*

    303,924
       
      3,223,202
       

Gas Utilities — 2.0%

4,600   

AGL Resources, Inc.

    190,946
14,700   

Atmos Energy Corp.

    512,883
1,500   

Chesapeake Utilities Corp.

    64,185
12,500   

Energen Corp.

    812,625
21,800   

Laclede Group, Inc. (The)

    836,466
7,100   

ONEOK, Inc.

    496,574
900   

Piedmont Natural Gas Co., Inc.

    28,575
39,000   

Southwest Gas Corp.

    1,551,030
       
      4,493,284
       

Healthcare Equipment & Supplies — 1.9%

3,900   

Cantel Medical Corp.

    101,127
8,100   

Cooper Cos., Inc. (The)

    606,690
27,700   

CryoLife, Inc.*

    161,768
19,100   

Cyberonics, Inc.*

    679,387
9,300   

Greatbatch, Inc.*

    251,751
600   

Haemonetics Corp.*

    42,120
16,900   

Integra LifeSciences Holdings Corp.*

    884,039
30,400   

Invacare Corp.

    1,000,160
3,000   

Kensey Nash Corp.*

    74,190
13,100   

Merit Medical Systems, Inc.*

    305,492
2,400   

Neogen Corp.*

    100,560
4,200   

West Pharmaceutical Services, Inc.

    198,408
600   

Young Innovations, Inc.

    18,612
       
      4,424,304
       

Healthcare Providers & Services — 5.6%

10,800   

Air Methods Corp.*

    730,296
30,800   

Alliance HealthCare Services, Inc.*

    136,136
25,200   

Amedisys, Inc.*(a)

    839,664
1,100   

American Dental Partners, Inc.*

    14,509
22,500   

AMERIGROUP Corp.*(a)

    1,536,750
21,100   

AmSurg Corp.*

    566,746
9,200   

Centene Corp.*

    333,316
13,400   

Chemed Corp.

    933,042
9,400   

Continucare Corp.*

    50,384
2,700   

Corvel Corp.*

    139,860
4,600   

Coventry Health Care, Inc.*

    148,442
19,600   

Cross Country Healthcare, Inc.*

    145,432
40,000   

Five Star Quality Care, Inc.*

    335,200
2,500   

Hanger Orthopedic Group, Inc.*

    67,925
21,200   

HealthSouth Corp.*

    543,356
26,200   

HealthSpring, Inc.*

    1,087,038
24,700   

Healthways, Inc.*

    417,924
2,400   

IPC The Hospitalist Co., Inc.*

    124,464
27,100   

Kindred Healthcare, Inc.*

    683,462
4,400   

LHC Group, Inc.*(a)

    130,328
30,200   

Magellan Health Services, Inc.*

    1,571,004
26,200   

MedCath Corp.*

    353,962
3,600   

Molina Healthcare, Inc.*

    154,800
1,700   

National Healthcare Corp.

    78,982
22,700   

PharMerica Corp.*

    298,732
11,900   

Providence Service Corp. (The)*

    175,406

35,900   

Skilled Healthcare Group, Inc. (Class A Stock)*

    435,108
1,300   

Team Health Holdings, Inc.*

    25,844
5,100   

Triple-S Management Corp. (Class B Stock) (Puerto Rico)*

    106,794
19,600   

Universal American Corp.

    452,760
2,600   

US Physical Therapy, Inc.

    63,310
       
      12,680,976
       

Healthcare Technology — 0.2%

4,000   

Computer Programs & Systems, Inc.

    235,160
6,200   

Omnicell, Inc.*

    95,356
2,500   

Quality Systems, Inc.

    224,300
       
      554,816
       

Hotels, Restaurants & Leisure — 3.3%

13,400   

Ameristar Casinos, Inc.

    267,330
930   

Biglari Holdings, Inc.*

    406,633
19,200   

Bob Evans Farms, Inc.

    602,112
6,600   

California Pizza Kitchen, Inc.*

    105,600
28,600   

CEC Entertainment, Inc.

    1,081,938
23,600   

Cracker Barrel Old Country Store, Inc.

    1,209,028
18,400   

Domino’s Pizza, Inc.*

    341,688
8,400   

Interval Leisure Group, Inc.*

    134,988
20,700   

Jack in the Box, Inc.*

    427,455
9,800   

Life Time Fitness, Inc.*(a)

    383,376
8,500   

Marcus Corp.

    94,265
11,800   

Monarch Casino & Resort, Inc.*

    135,228
15,100   

Papa John’s International, Inc.*

    453,906
64,500   

Ruby Tuesday, Inc.*

    677,895
18,100   

Scientific Games Corp. (Class A Stock)*(a)

    190,412
13,800   

Sonic Corp.*

    154,836
19,700   

Speedway Motorsports, Inc.

    306,926
29,500   

Texas Roadhouse, Inc.

    479,965
       
      7,453,581
       

Household Durables — 1.3%

14,000   

American Greetings Corp. (Class A Stock)

    344,400
11,550   

Blyth, Inc.

    544,467
15,600   

CSS Industries, Inc.

    300,768
6,000   

Harman International Industries, Inc.

    291,180
30,500   

Helen of Troy Ltd. (Bermuda)*

    949,160
7,200   

iRobot Corp.*

    255,024
30,600   

Kid Brands, Inc.*

    223,686
       
      2,908,685
       

Household Products

10,000   

Central Garden & Pet Co. (Class A Stock)*(a)

    100,200
       

Industrial Conglomerates — 0.6%

300   

Seaboard Corp.

    716,100
8,600   

Standex International Corp.

    314,416
12,800   

Tredegar Corp.

    280,064
       
      1,310,580
       

Insurance — 4.9%

11,500   

American Equity Investment Life Holding Co.

    147,890
4,000   

American Safety Insurance Holdings Ltd. (Bermuda)*

    81,440
9,800   

AMERISAFE, Inc.*

    218,834
7,900   

AmTrust Financial Services, Inc.

    152,470
14,394   

Argo Group International Holdings Ltd. (Bermuda)

    452,116
28,300   

Delphi Financial Group, Inc. (Class A Stock)

    904,185
200   

EMC Insurance Group, Inc.

    4,362
17,000   

Employers Holdings, Inc.

    342,720
1,600   

Enstar Group Ltd. (Bermuda)*

    179,440
12,100   

FBL Financial Group, Inc. (Class A Stock)

    369,050
15,600   

Flagstone Reinsurance Holdings SA (Luxembourg)

    131,196
8,700   

FPIC Insurance Group, Inc.*

    321,204
5,300   

Global Indemnity PLC (Ireland)*

    135,362
15,100   

HCC Insurance Holdings, Inc.

    491,354
7,200   

Horace Mann Educators Corp.

    128,736
13,700   

Infinity Property & Casualty Corp.

    809,670
10,700   

Maiden Holdings Ltd. (Bermuda)

    79,715
37,300   

Meadowbrook Insurance Group, Inc.

    381,952
12,600   

Montpelier Re Holdings Ltd. (Bermuda)

    227,934
31,000   

National Financial Partners Corp.*(a)

    498,790
18,400   

Platinum Underwriters Holdings Ltd. (Bermuda)

    695,704
15,500   

Presidential Life Corp.

    172,670
30,000   

ProAssurance Corp.*

    1,992,000
10,700   

Safety Insurance Group, Inc.

    500,974
52,200   

Selective Insurance Group, Inc.

    920,808
6,800   

Symetra Financial Corp.

    94,384
9,100   

Tower Group, Inc.

    208,117
15,000   

United Fire & Casualty Co.

    297,000
27,600   

Universal Insurance Holdings, Inc.

    149,316
       
      11,089,393
       

Internet & Catalog Retail — 0.1%

13,600   

Nutrisystem, Inc.

    204,544
       

Internet Software & Services — 1.3%

4,900   

DealerTrack Holdings, Inc.*

    110,054
45,900   

EarthLink, Inc.

    377,298
13,800   

Infospace, Inc.*

    124,200
32,900   

j2 Global Communications, Inc.*(a)

    969,234
17,500   

Liquidity Services, Inc.*

    340,375
25,800   

Perficient, Inc.*

    322,242
114,749   

United Online, Inc.

    757,343
1,000   

ValueClick, Inc.*

    16,750
       
      3,017,496
       

IT Services — 1.7%

16,400   

Acxiom Corp.*

    238,784
9,900   

CACI International, Inc. (Class A Stock)*(a)

    604,989
8,700   

Cardtronics, Inc.*

    184,875
19,500   

CSG Systems International, Inc.*

    414,180
15,200   

Euronet Worldwide, Inc.*

    285,000
20,600   

Global Cash Access Holdings, Inc.*

    67,980
18,200   

iGate Corp.

    308,672
7,000   

MAXIMUS, Inc.

    559,930

7,600   

NCI, Inc. (Class A Stock)*

    187,036
22,600   

TeleTech Holdings, Inc.*

    449,062
17,700   

TNS, Inc.*

    290,811
9,000   

Unisys Corp.*(a)

    267,120
       
      3,858,439
       

Leisure Equipment & Products — 1.0%

19,800   

Arctic Cat, Inc.*

    332,442
31,400   

JAKKS Pacific, Inc.*(a)

    660,656
10,500   

Polaris Industries, Inc.

    1,107,015
9,800   

Sturm Ruger & Co., Inc.

    233,044
       
      2,333,157
       

Life Sciences Tools & Services — 0.1%

26,400   

Cambrex Corp.*

    138,864
11,800   

Kendle International, Inc.*

    118,590
       
      257,454
       

Machinery — 3.1%

11,200   

Actuant Corp. (Class A Stock)(a)

    310,912
1,900   

Alamo Group, Inc.

    54,359
2,800   

Albany International Corp. (Class A Stock)

    70,868
6,600   

Cascade Corp.

    302,280
24,500   

CLARCOR, Inc.

    1,107,155
10,000   

EnPro Industries, Inc.*(a)

    400,800
7,700   

Gardner Denver, Inc.

    665,357
2,800   

Harsco Corp.

    99,680
9,900   

John Bean Technologies Corp.

    200,079
1,400   

Kennametal, Inc.

    59,108
1,100   

LB Foster Co.

    46,816
500   

Lincoln Electric Holdings, Inc.

    39,290
24,900   

Mueller Industries, Inc.

    974,088
1,500   

NACCO Industries, Inc. (Class A Stock)

    157,845
20,700   

Robbins & Myers, Inc.

    899,829
15,800   

Toro Co. (The)

    1,072,978
13,500   

Watts Water Technologies, Inc. (Class A Stock)(a)

    522,450
       
      6,983,894
       

Marine — 0.3%

55,700   

Eagle Bulk Shipping, Inc. (Marshall Island)*(a)

    191,051
42,000   

Excel Maritime Carriers Ltd. (Liberia)*(a)

    168,420
17,400   

Genco Shipping & Trading Ltd. (Marshall Island)*(a)

    145,986
4,900   

International Shipholding Corp.

    117,551
       
      623,008
       

Media — 0.8%

37,500   

Belo Corp. (Class A Stock)*

    316,875
20,800   

Entercom Communications Corp. (Class A Stock)*

    219,856
31,900   

Harte-Hanks, Inc.

    296,351
23,300   

Journal Communications, Inc. (Class A Stock)*

    126,985
5,500   

LIN TV Corp. (Class A Stock)*

    29,425
6,000   

PRIMEDIA, Inc.

    29,400

13,100   

Scholastic Corp.

    344,268
30,800   

Sinclair Broadcast Group, Inc. (Class A Stock)

    353,892
       
   1,717,052
       

Metals & Mining — 0.9%

44,800   

Century Aluminum Co.*

    895,104
8,900   

Kaiser Aluminum Corp.

    445,979
15,200   

Materion Corp.*

    634,752
       
   1,975,835
       

Multi-Line Retail — 0.1%

5,500   

Dillard’s, Inc. (Class A Stock)(a)

    264,110
       

Multi-Utilities — 1.5%

44,400   

Avista Corp.

    1,081,140
17,500   

Black Hills Corp.

    608,125
41,900   

NorthWestern Corp.

    1,363,845
14,500   

Vectren Corp.

    414,410
       
   3,467,520
       

Oil, Gas & Consumable Fuels — 3.7%

15,400   

Berry Petroleum Co. (Class A Stock)(a)

    818,202
11,300   

Bill Barrett Corp.*

    471,549
56,500   

Callon Petroleum Co.*

    387,025
1,600   

Contango Oil & Gas Co.*

    99,072
22,000   

CVR Energy, Inc.*

    489,060
13,800   

DHT Holdings, Inc. (Marshall Island)

    59,754
7,600   

Frontline Ltd. (Bermuda)(a)

    168,036
7,800   

Green Plains Renewable Energy, Inc.*(a)

    97,656
19,200   

Holly Corp.

    1,111,680
15,200   

Knightsbridge Tankers Ltd. (Bermuda)(a)

    340,328
8,300   

Petroleum Development Corp.*

    330,506
1,100   

REX American Resources Corp.*

    19,008
33,400   

Ship Finance International Ltd. (Bermuda)(a)

    667,666
11,801   

Southern Union Co.

    352,836
31,900   

Stone Energy Corp.*

    1,127,984
14,200   

Swift Energy Co.*

    556,498
17,600   

W&T Offshore, Inc.

    471,856
33,700   

Western Refining, Inc.*

    571,552
6,000   

World Fuel Services Corp.

    237,480
       
   8,377,748
       

Paper & Forest Products — 1.6%

43,500   

Buckeye Technologies, Inc.

    1,224,960
3,800   

Clearwater Paper Corp.*

    298,224
32,100   

KapStone Paper and Packaging Corp.*

    557,898
23,800   

Neenah Paper, Inc.

    555,254
28,600   

P.H. Glatfelter Co.

    388,960
10,100   

Schweitzer-Mauduit International, Inc.

    523,584
15,200   

Wausau Paper Corp.

    102,600
       
   3,651,480
       

Personal Products — 0.3%

3,300   

Elizabeth Arden, Inc.*

    99,198

1,400   

Medifast, Inc.*(a)

    27,650
25,000   

Prestige Brands Holdings, Inc.*

    288,750
10,800   

Revlon, Inc. (Class A Stock)*

    185,976
1,100   

USANA Health Sciences, Inc.*

    41,030
       
   642,604
       

Pharmaceuticals — 0.9%

4,800   

Medicines Co. (The)*

    75,360
39,600   

Par Pharmaceutical Cos., Inc.*

    1,363,824
8,400   

Questcor Pharmaceuticals, Inc.*(a)

    172,200
24,400   

Viropharma, Inc.*

    470,676
       
   2,082,060
       

Professional Services — 1.2%

13,300   

CBIZ, Inc.*

    97,489
43,800   

Dolan Co. (The)*

    515,526
5,600   

Exponent, Inc.*

    240,296
1,800   

GP Strategies Corp.*

    23,562
7,500   

Huron Consulting Group, Inc.*

    216,000
4,000   

ICF International, Inc.*

    97,440
18,700   

Kelly Services, Inc. (Class A Stock)*

    357,357
21,800   

Navigant Consulting, Inc.*

    253,970
17,000   

On Assignment, Inc.*

    186,490
21,700   

School Specialty, Inc.*(a)

    321,377
32,700   

TrueBlue, Inc.*

    460,416
1,200   

VSE Corp.

    33,828
       
   2,803,751
       

Real Estate Investment Trusts — 8.4%

14,200   

Agree Realty Corp.(a)

    332,138
33,500   

BioMed Realty Trust, Inc.

    664,640
61,100   

Capstead Mortgage Corp.

    808,964
39,100   

CBL & Associates Properties, Inc.(a)

    726,087
57,100   

Cedar Shopping Centers, Inc.

    336,890
43,100   

Cogdell Spencer, Inc.

    260,755
39,900   

Colonial Properties Trust

    844,284
29,388   

Cousins Properties, Inc.

    264,492
53,568   

DiamondRock Hospitality Co.

    644,959
5,900   

Duke Realty Corp.

    89,975
29,300   

Dynex Capital, Inc.

    289,484
7,400   

EastGroup Properties, Inc.

    340,844
10,800   

Entertainment Properties Trust

    514,188
23,000   

Extra Space Storage, Inc.

    497,950
25,000   

Franklin Street Properties Corp.

    353,500
21,400   

Getty Realty Corp.(a)

    543,774
18,900   

Glimcher Realty Trust

    180,495
31,500   

Hatteras Financial Corp.(a)

    894,915
800   

Home Properties, Inc.

    50,720
45,800   

Inland Real Estate Corp.

    447,466
13,100   

Kilroy Realty Corp.(a)

    549,414
49,300   

Kite Realty Group Trust

    256,360
27,000   

LaSalle Hotel Properties(a)

    759,780
61,060   

Lexington Realty Trust

    609,379

17,400   

LTC Properties, Inc.

    511,908
65,800   

Medical Properties Trust, Inc.(a)

    811,972
165,100   

MFA Financial, Inc.

    1,317,498
8,000   

Mid-America Apartment Communities, Inc.

    534,800
4,400   

National Health Investors, Inc.

    213,972
900   

National Retail Properties, Inc.(a)

    23,706
3,400   

One Liberty Properties, Inc.

    52,734
16,300   

Parkway Properties, Inc.

    292,259
18,200   

PS Business Parks, Inc.

    1,096,732
19,500   

Ramco-Gershenson Properties Trust(a)

    251,355
30,100   

Resource Capital Corp.

    195,048
400   

Saul Centers, Inc.

    17,516
2,300   

Senior Housing Properties Trust

    54,556
21,300   

Sovran Self Storage, Inc.

    911,214
3,800   

Sun Communities, Inc.(a)

    146,224
45,900   

Sunstone Hotel Investors, Inc.*

    480,114
3,900   

Universal Health Realty Income Trust

    168,129
22,000   

Urstadt Biddle Properties (Class A Stock)

    432,960
20,000   

Winthrop Realty Trust

    242,600
       
      19,016,750
       

Road & Rail — 0.5%

5,000   

AMERCO*

    508,600
14,600   

Marten Transport Ltd.

    326,456
10,000   

Old Dominion Freight Line, Inc.*

    374,200
       
      1,209,256
       

Semiconductors & Semiconductor Equipment — 2.4%

20,700   

Amkor Technology, Inc.*(a)

    138,690
63,000   

Brooks Automation, Inc.*

    770,490
700   

Cirrus Logic, Inc.*

    11,592
4,300   

Cohu, Inc.

    61,963
3,200   

FEI Co.*

    103,872
6,400   

Hittite Microwave Corp.*

    412,096
44,900   

Kulicke & Soffa Industries, Inc.*

    406,794
8,800   

LTX-Credence Corp.*

    76,296
36,300   

Microsemi Corp.*

    856,680
31,000   

MKS Instruments, Inc.

    879,780
20,400   

Photronics, Inc.*

    178,092
27,800   

Rudolph Technologies, Inc.*

    314,418
16,800   

Sigma Designs, Inc.*(a)

    214,368
46,200   

Tessera Technologies, Inc.*

    912,912
       
      5,338,043
       

Software — 2.2%

25,000   

Blackbaud, Inc.

    691,500
24,100   

Fair Isaac Corp.

    720,108
3,200   

Interactive Intelligence, Inc.*

    119,744
9,800   

Manhattan Associates, Inc.*

    354,270
22,000   

NetScout Systems, Inc.*

    562,980
34,200   

Progress Software Corp.*

    1,014,030
44,000   

Take-Two Interactive Software, Inc.*(a)

    711,920

33,800   

Websense, Inc.*

    871,702
       
   5,046,254
       

Specialty Retail — 3.5%

17,600   

Big 5 Sporting Goods Corp.

    210,320
4,900   

Brown Shoe Co., Inc.

    61,985
9,600   

Buckle, Inc. (The)(a)

    436,704
22,400   

Cabela’s, Inc.*(a)

    572,096
34,900   

Cato Corp. (The) (Class A Stock)

    890,299
8,300   

Children’s Place Retail Stores, Inc. (The)*(a)

    441,311
23,600   

Collective Brands, Inc.*(a)

    495,600
1,300   

Express, Inc.

    28,067
17,600   

Finish Line, Inc. (The) (Class A Stock)

    378,224
8,400   

Genesco, Inc.*

    339,192
18,300   

Men’s Wearhouse, Inc. (The)

    510,387
17,900   

OfficeMax, Inc.*

    178,284
13,100   

Penske Auto Group, Inc.*

    294,488
56,000   

Pep Boys - Manny, Moe & Jack

    767,200
26,000   

Rent-A-Center, Inc.

    791,700
33,400   

Stage Stores, Inc.

    643,284
45,500   

Stein Mart, Inc.

    495,040
2,500   

Systemax, Inc.*

    32,375
14,100   

Zumiez, Inc.*

    396,351
       
   7,962,907
       

Textiles, Apparel & Luxury Goods — 1.2%

25,800   

Maidenform Brands, Inc.*

    816,828
12,200   

Movado Group, Inc.

    203,618
6,600   

Oxford Industries, Inc.

    226,710
4,700   

Steven Madden Ltd.*

    249,805
5,200   

True Religion Apparel, Inc.*

    157,144
26,200   

Wolverine World Wide, Inc.

    1,039,616
       
  

2,693,721

Thrifts & Mortgage Finance — 0.8%

4,400   

Berkshire Hills Bancorp, Inc.

    98,120
5,000   

Brookline Bancorp, Inc.

    46,100
39,600   

Dime Community Bancshares, Inc.

    612,216
7,400   

First Financial Holdings, Inc.

    81,252
20,400   

Flushing Financial Corp.

    300,288

600

   

OceanFirst Financial Corp.

    8,700
17,100   

Trustco Bank Corp.

    102,600
20,300   

Washington Federal, Inc.

    326,627
3,100   

WSFS Financial Corp.

    139,407
       
   1,715,310
       

Tobacco — 0.1%

43,200   

Alliance One International, Inc.*

    172,368
       

Trading Companies & Distributors — 0.9%

28,100   

Aircastle Ltd. (Bermuda)

    350,126
28,600   

Applied Industrial Technologies, Inc.

    1,008,436
1,400   

DXP Enterprises, Inc.*

    36,750

12,200   

Interline Brands, Inc.*

    257,664
6,900   

Lawson Products, Inc.

    152,007
7,700   

TAL International Group, Inc.

    277,585
       
   2,082,568
       

Water Utilities — 0.2%

   
12,700   

American States Water Co.

    443,357
       

Wireless Telecommunication Services — 0.5%

   
15,800   

NTELOS Holdings Corp.

    311,734
48,400   

USA Mobility, Inc.

    747,780
       
   1,059,514
       
  

TOTAL COMMON STOCKS
(cost $177,128,091)

    225,028,499
       

EXCHANGE TRADED FUND — 0.3%

   
9,100   

iShares Russell 2000 Value Index Fund(a)
(cost $427,894)

    696,605
       
  

TOTAL LONG-TERM INVESTMENTS
(cost $177,555,985)

    225,725,104
       

SHORT-TERM INVESTMENT— 10.8%

   

Affiliated Money Market Mutual Fund

   
24,438,503   

Prudential Investment Portfolios 2 — Prudential Core Taxable Money Market Fund
(cost $24,438,503; includes $22,973,979 of cash collateral for securities on
loan)(b)(c)

    24,438,503
       
  

TOTAL INVESTMENTS — 110.3%
(cost $201,994,488)(d)

    250,163,607
  

LIABILITIES IN EXCESS OF OTHER ASSETS — (10.3)%

    (23,326,295)
       
  

NET ASSETS — 100%

    $226,837,312
       

 

 

* Non-income producing security.
(a) All or a portion of security is on loan. The aggregate market value of such securities, including those sold and pending settlement, is $22,378,216; cash collateral of $22,973,979 (included with liabilities) was received with which the Portfolio purchased highly liquid short-term investments.
(b) Represents security, or a portion thereof, purchased with cash collateral received for securities on loan.
(c) Prudential Investments LLC, the manager of the Portfolio, also serves as manager of the Prudential Investment Portfolios 2 — Prudential Core Taxable Money Market Fund.
(d) The United States federal income tax basis of the Portfolio’s investments was $201,674,417; accordingly, net unrealized appreciation on investments for federal income tax purposes was $48,489,190 (gross unrealized appreciation $57,110,487; gross unrealized depreciation $8,621,297). The difference between book and tax basis is primarily attributable to deferred losses on wash sales and other differences between financial reporting and tax accounting as of the most recent fiscal year end.

Various inputs are used in determining the value of the Portfolio’s investments. These inputs are summarized in the three broad levels listed below.

Level 1 - quoted prices generally for stocks, exchange traded funds, options and futures traded in active markets for identical securities, and mutual funds which trade at daily net asset value.

Level 2 - other significant observable inputs (including, but not limited to, quoted prices for similar securities, interest rates, prepayment speeds, foreign currency exchange rates, and amortized cost) generally for debt securities, swaps, forward foreign currency contracts and for foreign stocks priced using vendor modeling tools.

Level 3 - significant unobservable inputs for securities valued in accordance with Board approved fair valuation procedures.

The following is a summary of the inputs used as of April 30, 2011 in valuing such portfolio securities:

 

     Level 1      Level 2      Level 3  

Investments in Securities

         

Common Stocks

    $ 225,028,499       $ —         $ —     

Exchange Traded Fund

      696,605         —           —     

Affiliated Money Market Mutual Fund

      24,438,503         —           —     
                          

Total

    $ 250,163,607       $ —         $ —     
                          

Notes to Schedules of Investments (Unaudited)

Securities Valuation: Securities listed on a securities exchange (other than options on securities and indices) are valued at the last sale price on such exchange on the day of valuation or, if there was no sale on such day, at the mean between the last reported bid and asked prices, or at the last bid price on such day in the absence of an asked price. Securities traded via Nasdaq are valued at the Nasdaq official closing price (“NOCP”) on the day of valuation, or if there was no NOCP, at the last sale price. Securities that are actively traded in the over-the-counter market, including listed securities for which the primary market is believed by Prudential Investments LLC (“PI” or “Manager”), in consultation with the subadvisers; to be over-the-counter, are valued at market value using prices provided by an independent pricing agent or principal market maker.

Securities for which market quotations are not readily available, or whose values have been affected by events occurring after the close of the security’s foreign market and before the fund’s normal pricing time, are valued at fair value in accordance with the Board of Trustees’ approved fair valuation procedures. When determining the fair value of securities, some of the factors influencing the valuation include, the nature of any restrictions on disposition of the securities; assessment of the general liquidity of the securities; the issuer’s financial condition and the markets in which it does business; the cost of the investment; the size of the holding and the capitalization of issuer; the prices of any recent transactions of bids/offers for such securities or any comparable securities; any available analyst media or other reports or information deemed reliable by the investment adviser regarding the issuer or the markets or industry in which it operates. Using fair value to price securities may result in a value that is different from a security’s most recent closing price and from the price used by other mutual funds to calculate their net asset values.

Market values of investments traded in a foreign currency are translated into U.S. dollars at the current rates of exchange.

Investments in open end, non exchange-traded, mutual funds are valued at the net asset value as of the close of the New York Stock Exchange on the date of valuation.

The Funds invest in the Prudential Core Taxable Money Market Fund, a portfolio of the Prudential Investment Portfolios 2 registered under the Investment Company Act of 1940, as amended, and managed by PI.

Other information regarding the Funds is available in the Funds’ most recent Report to Shareholders. This information is available on the Securities and Exchange Commission’s website (www.sec.gov).

Item 2. Controls and Procedures

 

  (a) It is the conclusion of the registrant’s principal executive officer and principal financial officer that the effectiveness of the registrant’s current disclosure controls and procedures (such disclosure controls and procedures having been evaluated within 90 days of the date of this filing) provide reasonable assurance that the information required to be disclosed by the registrant has been recorded, processed, summarized and reported within the time period specified in the Commission’s rules and forms and that the information required to be disclosed by the registrant has been accumulated and communicated to the registrant’s principal executive officer and principal financial officer in order to allow timely decisions regarding required disclosure.

 

  (b) There have been no significant changes in the registrant’s internal controls or in other factors that could significantly affect these controls subsequent to the date of their evaluation, including any corrective actions with regard to significant deficiencies and material weaknesses.

Item 3. Exhibits

Certifications pursuant to Rule 30a-2(a) under the Investment Company Act of 1940 – Attached hereto.

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) Prudential Investment Portfolios 5

 

By (Signature and Title)*

   

/s/ Deborah A. Docs

      
   Deborah A. Docs      
   Secretary of the Fund      

Date June 20, 2011

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/ Judy A. Rice

      
     Judy A. Rice      
     President and Principal Executive Officer      

Date June 20, 2011

           

 

By (Signature and Title)*

     

/s/ Grace C. Torres

      
     Grace C. Torres      
     Treasurer and Principal Financial Officer      

Date June 20, 2011

 

* Print the name and title of each signing officer under his or her signature.