UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC  20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED

MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number	811-21906
Claymore Exchange-Traded Fund Trust
(Exact name of registrant as specified in charter)

2455 Corporate West Drive, Lisle, IL 60532

(Address of principal executive offices) (Zip code)

Kevin M. Robinson

2455 Corporate West Drive, Lisle, IL 60532

(Name and address of agent for service)

Registrant’s telephone number, including area code:  (630) 505-3700

Date of fiscal year end: August 31                                                       

Date of reporting period: September 1, 2012 to November 30, 2012                                                                                                           

Item 1.    Schedule of Investments.

Attached hereto.

EEB Guggenheim BRIC ETF
Portfolio of Investments
November 30, 2012 (unaudited)
	Number
	of Shares	Description	Value
		Long-Term Investments - 99.8%
		Common Stocks - 66.3%
		Basic Materials - 7.0%
	87,400	Aluminum Corp. of China Ltd., ADR (China)(a) (b)	$925,566
	403,219	Cia Siderurgica Nacional SA, ADR (Brazil)	1,947,548
	120,913	Fibria Celulose SA, ADR (Brazil)(a) (b)	1,222,430
	78,516	Mechel, ADR (Russia)	478,948
	14,150	Sinopec Shanghai Petrochemical Co. Ltd., ADR (China)(a)	414,595
	112,730	Sterlite Industries India Ltd., ADR (India)	889,440
	216,864	Ultrapar Participacoes SA, ADR (Brazil)	4,458,724
	697,829	Vale SA, ADR (Brazil)	12,163,159
			22,500,410
		Communications - 20.1%
	20,654	21Vianet Group, Inc., ADR (China)(a) (b)	201,789
	123,118	Baidu, Inc., ADR (China)(b)	11,857,495
	543,755	China Mobile Ltd., ADR (China)	30,950,535
	73,086	China Telecom Corp. Ltd., ADR (China)(a)	3,970,762
	225,198	China Unicom Hong Kong Ltd., ADR (China)	3,497,325
	77,904	Ctrip.com International Ltd., ADR (China)(a) (b)	1,487,966
	37,592	E-Commerce China Dangdang, Inc., ADR (China)(a) (b)	168,036
	49,530	Focus Media Holding Ltd., ADR (China)(a)	1,203,084
	61,903	Giant Interactive Group, Inc., ADR (China)(a)	328,086
	266,218	Mobile Telesystems OJSC, ADR (Russia)	4,640,180
	39,043	NetEase.com, Inc., ADR (China)(b)	1,712,426
	133,007	Oi SA, ADR (Brazil)	591,881
	25,133	Perfect World Co. Ltd., ADR (China)	279,479
	8,610	Qihoo 360 Technology Co. Ltd., ADR (China)(b)	215,164
	84,713	Renren, Inc., ADR (China)(a) (b)	290,566
	85,380	Tim Participacoes SA, ADR (Brazil)	1,513,787
	125,027	VimpelCom Ltd., ADR (Russia)	1,322,786
	43,451	Youku Tudou, Inc., ADR (China)(b)	741,274
			64,972,621
		Consumer, Cyclical - 1.1%
	19,817	China Eastern Airlines Corp. Ltd., ADR (China)(b)	341,843
	13,008	China Lodging Group Ltd., ADR (China)(b)	220,486
	20,506	China Southern Airlines Co. Ltd., ADR (China)	454,413
	100,132	Tata Motors Ltd., ADR (India)(a)	2,510,309
			3,527,051
		Consumer, Non-cyclical - 3.7%
	5,875	51job, Inc., ADR (China)(a) (b)	310,611
	350,225	BRF - Brasil Foods SA, ADR (Brazil)	6,426,629
	44,512	Dr Reddy's Laboratories Ltd., ADR (India)	1,492,932
	46,066	Mindray Medical International Ltd., ADR (China)(a)	1,558,413
	70,936	New Oriental Education & Technology Group, ADR (China)	1,430,070
	41,372	WuXi PharmaTech Cayman, Inc., ADR (China)(b)	678,087
			11,896,742
		Energy - 18.2%
	87,895	China Petroleum & Chemical Corp., ADR (China)	9,308,080
	83,660	CNOOC Ltd., ADR (China)	17,832,966
	107,168	PetroChina Co. Ltd., ADR (China)	14,269,419
	857,923	Petroleo Brasileiro SA, ADR (Brazil)	15,416,876
	51,954	Trina Solar Ltd., ADR (China)(a) (b)	149,108
	105,570	Yanzhou Coal Mining Co. Ltd., ADR (China)	1,622,611
			58,599,060
		Financial - 8.9%
	298,784	Banco Santander Brasil SA, ADR (Brazil)	1,998,865
	259,361	China Life Insurance Co. Ltd., ADR (China)(a)	11,448,195
	48,051	E-House China Holdings Ltd., ADR (China)	164,815
	123,780	Gafisa SA, ADR (Brazil)(a) (b)	487,693
	201,874	HDFC Bank Ltd., ADR (India)	8,502,933
	147,769	ICICI Bank Ltd., ADR (India)	6,057,051
			28,659,552
		Industrial - 0.7%
	82,887	Embraer SA, ADR (Brazil)	2,066,373
	18,505	Guangshen Railway Co. Ltd., ADR (China)(a)	306,443
			2,372,816
		Technology - 4.8%
	19,295	AutoNavi Holdings Ltd., ADR (China)(b)	235,399
	250,801	Infosys Technologies Ltd., ADR (India)(a)	11,148,104
	52,307	Pactera Technology International Ltd., ADR (China)(b)	391,256
	272,189	Semiconductor Manufacturing International Corp., ADR (China)(b)	650,532
	55,714	Shanda Games Ltd., ADR (China)	172,713
	22,212	Spreadtrum Communications, Inc., ADR (China)(a)	412,699
	287,058	Wipro Ltd., ADR (India)(a)	2,511,758
			15,522,461
		Utilities - 1.8%
	150,622	Centrais Eletricas Brasileiras SA, ADR (Brazil)	551,277
	30,329	Cia de Saneamento Basico do Estado de Sao Paulo, ADR (Brazil)	2,467,871
	60,012	CPFL Energia SA, ADR (Brazil)	1,310,662
	43,037	Huaneng Power International, Inc., ADR (China)	1,467,131
			5,796,941
		Total Common Stocks - 66.3%
		(Cost $309,340,499)	213,847,654
		Preferred Stocks - 33.3%
		Basic Materials - 7.2%
	42,169	Braskem SA, ADR (Brazil)(a)	549,041
	470,623	Gerdau SA, ADR (Brazil)	3,995,589
	1,097,358	Vale SA, ADR (Brazil)	18,753,848
			23,298,478
		Communications - 1.6%
	449,920	Oi SA, ADR (Brazil)(a)	1,705,197
	153,443	Telefonica Brasil SA, ADR (Brazil)	3,366,539
			5,071,736
		Consumer, Cyclical - 0.1%
	63,726	Gol Linhas Aereas Inteligentes SA, ADR (Brazil)(a) (b)	306,522
		Consumer, Non-cyclical - 6.4%
	74,456	Cia Brasileira de Distribuicao Grupo PAO de Acucar, ADR (Brazil)	3,222,456
	421,885	Cia de Bebidas das Americas, ADR (Brazil)	17,554,635
			20,777,091
		Energy - 6.0%
	1,107,867	Petroleo Brasileiro SA, ADR (Brazil)	19,443,066
		Financial - 10.6%
	959,492	Banco Bradesco SA, ADR (Brazil)	16,157,845
	1,187,428	Itau Unibanco Holding SA, ADR (Brazil)	17,989,534
			34,147,379
		Utilities - 1.4%
	124,917	Centrais Eletricas Brasileiras SA, ADR (Brazil)(a)	594,605
	254,186	Cia Energetica de Minas Gerais, ADR (Brazil)	3,111,236
	55,544	Cia Paranaense de Energia, ADR (Brazil)	747,067
			4,452,908
		Total Preferred Stocks - 33.3%
		(Cost $156,492,043)	107,497,180
		Exchange Traded Fund - 0.2%
	19,000	Vanguard MSCI Emerging Markets ETF	798,760
		(Cost $798,855)
		Total Long-Term Investments - 99.8%
		(Cost $466,631,397)	322,143,594
		Investments of Collateral for Securities Loaned - 8.3%
	26,635,046	BNY Mellon Securities Lending Overnight Fund, 0.2159%(c) (d)	26,635,046
		(Cost $26,635,046)
		Total Investments - 108.1%
		(Cost $493,266,443)	348,778,640
		Liabilities in excess of Other Assets - (8.1%)	(26,040,575)
		Net Assets  - 100.0%	$         322,738,065

ADR - American Depositary Receipt
OJSC - Open Joint Stock Company
SA - Corporation
(a)	Security, or portion thereof, was on loan at November 30, 2012.
(b)	Non-income producing security.
(c)	At November 30, 2012, the total market value of the Fund's securities on loan was $27,558,743 and the total market value of the collateral held by the Fund was $28,337,292, consisting of cash collateral of $26,635,046 and U.S. Government and Agency securities valued at $1,702,246.
(d)	Interest rate shown reflects yield as of November 30, 2012.
Securities are classified by sectors that represent broad groupings of related securities.
See previously submitted notes to financial statements for the year ended August 31, 2012.

Country Allocation*
Brazil	49.7%
China	37.8%
India	10.3%
Russia	2.0%
United States	0.2%
* Subject to change daily. Based on long-term investments.

At November 30, 2012, the cost and related gross unrealized appreciation and depreciation on investments for tax purposes are as follows:

Cost of Investments for Tax Purposes		Gross Tax Unrealized Appreciation		Gross Tax Unrealized Depreciation		Net Tax Unrealized Depreciation on Investments
$	498,696,682	$	21,164,655	$	(171,082,697)	$	(149,918,042)

Securities listed on an exchange are valued at the last reported sale price on the principal exchange or on the principal over-the-counter market on which such securities are traded, as of the close of regular trading on the New York Stock Exchange ("NYSE") on the day the securities are being valued or, if there are no sales, at the mean of the most recent bid and asked prices. Equity securities that are traded primarily on the NASDAQ Stock Market are valued at the NASDAQ Official Closing Price. Debt securities are valued at the mean of the last available bid and ask prices for such securities or, if such prices are not available, at prices for securities of comparable maturity, quality and type. If sufficient market activity is limited or does not exist, the pricing providers or broker-dealers may utilize proprietary valuation models which consider market characteristics such as benchmark yield curves, option-adjusted spreads, credit spreads, estimated default rates, coupon rates, anticipated timing of principal repayments, underlying collateral, or other unique security features in order to estimate relevant cash flows, which are then discounted to calculate a security's fair value. Short-term securities with maturities of 60 days or less at time of purchase are valued at amortized cost, which approximates market value. Money market funds are valued at net asset value.

For those securities where quotations or prices are not available, the valuations are determined in accordance with procedures established in good faith by management and approved by the Board of Trustees of the Trust (“Board of Trustees”). Valuations in accordance with these procedures are intended to reflect each security’s (or asset’s) “fair value.” Fair value is defined as the price that the Fund would receive to sell an investment or pay to transfer a liability in an orderly transaction with an independent buyer in the principal market, or in the absence of a principal market, the most advantageous market for the investment or liability. Each such determination is based on a consideration of all relevant factors, which are likely to vary from one pricing context to another. Examples of such factors may include, but are not limited to: (i) the type of security, (ii) the initial cost of the security, (iii) the existence of any contractual restrictions on the security’s disposition, (iv) the price and extent of public trading in similar securities of the issuer or of comparable companies, (v) quotations or evaluated prices from broker-dealers and/or pricing services, (vi) information obtained from the issuer, analysts, and/or the appropriate stock exchange (for exchange-traded securities), (vii) an analysis of the company’s financial statements, and (viii) an evaluation of the forces that influence the issuer and the market(s) in which the security is purchased and sold (e.g. the existence of pending merger activity, public offerings or tender offers that might affect the value of the security).

There are three different categories for valuations.  Level 1 valuations are those based upon quoted prices in active markets. Level 2 valuations are those based upon quoted prices in inactive markets or based upon significant observable inputs (e.g. yield curves; benchmark interest rates; indices).  Level 3 valuations are those based upon unobservable inputs (e.g. discounted cash flow analysis; non-market based methods used to determine fair valuation).

The Fund values Level 1 securities using readily available market quotations in active markets.  The Fund values Level 2 fixed income securities using independent pricing providers who employ matrix pricing models utilizing market prices, broker quotes and prices of securities with comparable maturities and qualities.  The Fund values Level 2 equity securities using various observable market inputs.

The following table represents the Fund's investments carried by caption and by level within the fair value hierarchy as of November 30, 2012.

Description	Level 1		Level 2		Level 3		Total
(value in $000s)
Assets:
Common Stocks	$	213,847	$	-	$	-	$	213,847
Preferred Stocks		107,497		-		-		107,497
Exchange Traded Fund		799		-		-		799
Investments of Collateral for Securities Loaned		27,973		-		-		27,973
Total	$	350,116	$	-	$	-	$	350,116

During the three months ended November 30, 2012, there were no transfers between levels.

DEF Guggenheim Defensive Equity ETF
Portfolio of Investments
November 30, 2012 (unaudited)
	Number
	of Shares	Description	Value
		Long-Term Investments - 99.8%
		Common Stocks - 84.8%
		Basic Materials - 1.1%
	4,830	Sherwin-Williams Co.	$736,672
		Communications - 9.0%
	19,888	AT&T, Inc.	678,777
	17,984	CenturyLink, Inc.	698,499
	21,833	Chunghwa Telecom Co. Ltd., ADR (Taiwan)(a)	701,931
	152,111	Frontier Communications Corp.(a)	731,654
	11,812	Liberty Global, Inc., Class A(b)	661,944
	30,858	Nippon Telegraph & Telephone Corp., ADR (Japan)	692,145
	47,897	NTT DoCoMo, Inc., ADR (Japan)	692,591
	11,038	Philippine Long Distance Telephone Co., ADR (Philippines)	686,784
	17,767	Telekomunikasi Indonesia Persero TBK PT, ADR (Indonesia)	675,857
			6,220,182
		Consumer, Cyclical - 8.1%
	8,605	Advance Auto Parts, Inc.	629,456
	7,008	Costco Wholesale Corp.	728,762
	12,800	Darden Restaurants, Inc.	676,864
	17,725	Dollar Tree, Inc.(b)	739,841
	20,791	Lowe's Cos., Inc.	750,347
	7,868	McDonald's Corp.	684,831
	10,288	PetSmart, Inc.	726,950
	12,067	Ross Stores, Inc.	686,854
			5,623,905
		Consumer, Non-cyclical - 20.5%
	10,678	Abbott Laboratories	694,070
	20,321	Avery Dennison Corp.	679,737
	20,803	Bristol-Myers Squibb Co.	678,802
	13,360	Church & Dwight Co., Inc.	723,444
	9,418	Clorox Co.	719,064
	5,409	Coca-Cola Femsa SAB de CV, ADR (Mexico)	763,102
	24,398	ConAgra Foods, Inc.	728,524
	14,191	Eli Lilly & Co.	695,927
	15,477	GlaxoSmithKline PLC, ADR (United Kingdom)	665,666
	11,914	HJ Heinz Co.	696,492
	8,072	JM Smucker Co.	714,049
	12,641	Kellogg Co.	701,070
	27,562	Kroger Co.	723,227
	15,079	Merck & Co., Inc.	668,000
	16,021	Molson Coors Brewing Co., Class B	664,231
	9,980	PepsiCo, Inc.	700,696
	10,040	Procter & Gamble Co.	701,093
	9,573	Ralcorp Holdings, Inc.(b)	853,337
	16,568	Reynolds American, Inc.	724,353
	40,712	Safeway, Inc.(a)	696,582
			14,191,466
		Energy - 1.9%
	15,113	ONEOK, Inc.	678,120
	5,024	PetroChina Co. Ltd., ADR (China)	668,946
			1,347,066
		Financial - 11.8%
	45,176	Annaly Capital Management, Inc., REIT	664,991
	26,336	Apartment Investment & Management Co., Class A, REIT	660,244
	19,136	Arthur J Gallagher & Co.	698,847
	11,836	BOK Financial Corp.	651,453
	19,365	Commerce Bancshares, Inc.	692,880
	15,739	HCP, Inc., REIT	709,042
	80,105	Hudson City Bancorp, Inc.	645,646
	19,820	Marsh & McLennan Cos., Inc.	698,060
	21,978	National Retail Properties, Inc., REIT	675,164
	32,266	Progressive Corp.	685,652
	17,609	Realty Income Corp., REIT(a)	716,334
	9,862	Travelers Cos., Inc.	698,427
			8,196,740
		Industrial - 2.0%
	7,296	Lockheed Martin Corp.	680,717
	25,596	Republic Services, Inc.	728,718
			1,409,435
		Technology - 2.0%
	61,033	Activision Blizzard, Inc.	698,217
	23,574	Maxim Integrated Products, Inc.	688,125
			1,386,342
		Utilities - 28.4%
	17,625	AGL Resources, Inc.	687,023
	15,790	Alliant Energy Corp.	707,708
	21,559	Ameren Corp.	646,123
	15,978	American Electric Power Co., Inc.	681,462
	26,752	Aqua America, Inc.	683,246
	32,221	CenterPoint Energy, Inc.	635,720
	8,189	Cia de Saneamento Basico do Estado de Sao Paulo, ADR (Brazil)(b)	666,339
	29,265	CMS Energy Corp.	714,944
	11,982	Consolidated Edison, Inc.	668,476
	13,577	Dominion Resources, Inc.	693,920
	11,390	DTE Energy Co.	690,006
	10,801	Duke Energy Corp.	689,320
	15,150	Edison International	689,022
	10,344	Entergy Corp.	657,258
	21,662	Exelon Corp.	654,626
	16,021	FirstEnergy Corp.	680,252
	31,474	Great Plains Energy, Inc.	637,348
	32,508	MDU Resources Group, Inc.	673,566
	10,009	NextEra Energy, Inc.	687,718
	17,665	Northeast Utilities	684,342
	12,039	OGE Energy Corp.	687,788
	35,222	Pepco Holdings, Inc.	695,282
	16,514	PG&E Corp.	676,248
	13,415	Pinnacle West Capital Corp.	690,336
	24,033	PPL Corp.	705,369
	22,668	Public Service Enterprise Group, Inc.	682,080
	34,482	Questar Corp.	676,537
	14,493	SCANA Corp.	671,606
	15,679	Southern Co.	682,820
			19,696,485
		Total Common Stocks - 84.8%
		(Cost $57,436,844)	58,808,293
		Preferred Stocks - 2.0%
		Consumer, Non-cyclical - 2.0%
	15,194	Cia Brasileira de Distribuicao Grupo Pao de Acucar, ADR (Brazil)	657,596
	16,919	Cia de Bebidas das Americas, ADR (Brazil)	704,000
		(Cost $1,373,685)	1,361,596
		Exchange Traded Fund - 0.2%
	2,600	iShares S&P 500 Value Index Fund	170,066
		(Cost $167,675)
		Master Limited Partnerships - 12.8%
		Consumer, Cyclical - 0.9%
	15,687	AmeriGas Partners, LP(a)	638,304
		Energy - 11.9%
	27,259	Boardwalk Pipeline Partners, LP	703,010
	14,144	Buckeye Partners, LP(a)	710,877
	23,406	Enbridge Energy Partners, LP	679,242
	15,367	Energy Transfer Equity, LP	698,737
	12,932	Enterprise Products Partners, LP	670,266
	8,285	Kinder Morgan Energy Partners, LP	675,310
	15,864	Magellan Midstream Partners, LP	705,631
	12,989	MarkWest Energy Partners, LP	671,272
	11,503	ONEOK Partners, LP(a)	670,050
	14,802	Plains All American Pipeline, LP	689,477
	30,692	Regency Energy Partners, LP	686,580
	13,339	Sunoco Logistics Partners, LP	677,888
			8,238,340
		Total Master Limited Partnerships - 12.8%
		(Cost $8,126,983)	8,876,644
		Total Long-Term Investments - 99.8%
		(Cost $67,105,187)	69,216,599
		Investments of Collateral for Securities Loaned - 4.9%
	3,423,280	BNY Mellon Securities Lending Overnight Fund, 0.2159%(c) (d)	3,423,280
		(Cost $3,423,280)
		Total Investments - 104.7%
		(Cost $70,528,467)	72,639,879
		Liabilities in excess of Other Assets - (4.7%)	(3,300,464)
		Net Assets  - 100.0%	$                69,339,415

ADR - American Depositary Receipt
LP - Limited Partnership
PLC - Public Limited Company
PT - Limited Liability Company
REIT - Real Estate Investment Trust
S&P - Standard & Poor's
SAB de CV - Publicly Traded Company
(a)	Security, or portion thereof, was on loan at November 30, 2012.
(b)	Non-income producing security.
(c)	At November 30, 2012, the total market value of the Fund's securities on loan was $3,370,332 and the total market value of the collateral held by the Fund was $3,465,804, consisting of cash collateral of $3,423,280 and U.S. Government and Agency securities valued at $42,524.
(d)	Interest rate shown reflects yield as of November 30, 2012.

Securities are classified by sectors that represent broad groupings of related industries.

Country Allocation*
United States	89.1%
Brazil	2.9%
Japan	2.0%
Mexico	1.1%
Taiwan	1.0%
Philippines	1.0%
Indonesia	1.0%
China	1.0%
United Kingdom	0.9%
* Subject to change daily.  Based on long-term investments.
See previously submitted notes to financial statements for the period ended August 31, 2012.

At November 30, 2012, the cost and related gross unrealized appreciation and depreciation on investments for tax purposes are as follows:

Cost of Investments for Tax Purposes		Gross Tax Unrealized Appreciation		Gross Tax Unrealized Depreciation		Net Tax Unrealized Appreciation on Investments
$	70,510,271	$	3,642,496	$	(1,512,888)	$	2,129,608

Securities listed on an exchange are valued at the last reported sale price on the principal exchange or on the principal over-the-counter market on which such securities are traded, as of the close of regular trading on the New York Stock Exchange (“NYSE”) on the day the securities are being valued or, if there are no sales, at the mean of the most recent bid and asked prices. Equity securities that are traded primarily on the NASDAQ Stock Market are valued at the NASDAQ Official Closing Price. Debt securities are valued at the mean of the last available bid and ask prices for such securities or, if such prices are not available, at prices for securities of comparable maturity, quality and type. If sufficient market activity is limited or does not exist, the pricing providers or broker-dealers may utilize proprietary valuation models which consider market characteristics such as benchmark yield curves, option-adjusted spreads, credit spreads, estimated default rates, coupon rates, anticipated timing of principal repayments, underlying collateral, or other unique security features in order to estimate relevant cash flows, which are then discounted to calculate a security’s fair value. Short-term securities with maturities of 60 days or less at time of purchase are valued at amortized cost, which approximates market value. Money market funds are valued at net asset value.

For those securities where quotations or prices are not available, the valuations are determined in accordance with procedures established in good faith by management and approved by the Board of Trustees of the Trust (“Board of Trustees”). Valuations in accordance with these procedures are intended to reflect each security’s (or asset’s) “fair value.” Fair value is defined as the price that the Fund would receive to sell an investment or pay to transfer a liability in an orderly transaction with an independent buyer in the principal market, or in the absence of a principal market, the most advantageous market for the investment or liability. Each such determination is based on a consideration of all relevant factors, which are likely to vary from one pricing context to another. Examples of such factors may include, but are not limited to: (i) the type of security, (ii) the initial cost of the security, (iii) the existence of any contractual restrictions on the security’s disposition, (iv) the price and extent of public trading in similar securities of the issuer or of comparable companies, (v) quotations or evaluated prices from broker-dealers and/or pricing services, (vi) information obtained from the issuer, analysts, and/or the appropriate stock exchange (for exchange-traded securities), (vii) an analysis of the company’s financial statements, and (viii) an evaluation of the forces that influence the issuer and the market(s) in which the security is purchased and sold (e.g. the existence of pending merger activity, public offerings or tender offers that might affect the value of the security).

There are three different categories for valuations. Level 1 valuations are those based upon quoted prices in active markets. Level 2 valuations are those based upon quoted prices in inactive markets or based upon significant observable inputs (e.g. yield curves; benchmark interest rates; indices). Level 3 valuations are those based upon unobservable inputs (e.g. discounted cash flow analysis; non-market based methods used to determine fair valuation).

The Fund values Level 1 securities using readily available market quotations in active markets. The Fund values Level 2 fixed income securities using independent pricing providers who employ matrix pricing models utilizing market prices, broker quotes and prices of securities with comparable maturities and qualities. The Fund values Level 2 equity securities using various observable market inputs. The Fund did not have any Level 3 securities at November 30, 2012.

The following table represents the Fund's investments carried by caption and by level within the fair value hierarchy as of November 30, 2012:

Description	Level 1		Level 2		Level 3		Total
(value in $000s)
Assets:
Common Stocks	$	58,808	$	-	$	-	$	58,808
Preferred Stocks		1,362		-		-		1,362
Exchange Traded Funds		170		-		-		170
Master Limited Partnerships		8,877		-		-		8,877
Investments of Collateral for Securities Loaned		3,423		-		-		3,423
Total	$	72,640	$	-	$	-	$	72,640

During the three months ended November 30, 2012, there were no transfers between levels.

NFO Guggenheim Insider Sentiment ETF
Portfolio of Investments
November 30, 2012 (unaudited)
	Number
	of Shares	Description	Value
		Long-Term Investments - 100.0%
		Common Stocks - 94.5%
		Basic Materials - 6.4%
	3,985	CF Industries Holdings, Inc.	$852,910
	33,949	Coeur d'Alene Mines Corp.(a)	789,654
	59,248	Commercial Metals Co.	802,810
	13,955	Mosaic Co.	754,407
	62,878	Resolute Forest Products(a)	736,301
	8,486	Stepan Co.	848,176
	33,291	Tronox Ltd., Class A (Australia)	515,345
			5,299,603
		Communications - 7.3%
	22,853	CBS Corp., Class B	822,251
	176,876	Frontier Communications Corp.(b)	850,774
	110,057	Iridium Communications, Inc.(a)	679,052
	15,903	McGraw-Hill Cos., Inc.	844,608
	17,115	Motorola Solutions, Inc.	931,912
	19,561	Time Warner, Inc.	925,235
	55,535	Yahoo!, Inc.(a)	1,042,392
			6,096,224
		Consumer, Cyclical - 20.3%
	20,307	AutoNation, Inc.(a)	790,755
	29,042	Beacon Roofing Supply, Inc.(a)	895,655
	16,067	Cabela's, Inc.(a)	767,521
	68,284	Carmike Cinemas, Inc.(a)	1,032,454
	14,730	Children's Place Retail Stores, Inc.(a)	716,025
	26,131	Choice Hotels International, Inc.	849,257
	18,284	CVS Caremark Corp.	850,389
	90,724	Delta Air Lines, Inc.(a)	907,240
	10,869	Dillard's, Inc., Class A	966,363
	18,138	Dollar Tree, Inc.(a)	757,080
	19,795	Fastenal Co.	827,629
	23,068	Foot Locker, Inc.	826,757
	11,922	Genesco, Inc.(a)	659,644
	27,167	Lithia Motors, Inc., Class A	972,035
	43,874	Pier 1 Imports, Inc.	841,942
	72,331	Pinnacle Entertainment, Inc.(a)	934,517
	27,011	Rue21, Inc.(a)	775,486
	83,773	Sonic Corp.(a)	848,620
	47,485	Texas Roadhouse, Inc.	788,726
	19,350	Williams-Sonoma, Inc.	875,781
			16,883,876
		Consumer, Non-cyclical - 12.9%
	120,794	ACCO Brands Corp.(a)	814,152
	22,625	American Public Education, Inc.(a) (b)	777,847
	73,984	Bridgepoint Education, Inc.(a)	720,604
	14,773	Covidien PLC (Ireland)	858,459
	18,525	Elizabeth Arden, Inc.(a)	859,745
	15,267	Ingredion, Inc.	991,592
	17,691	Life Technologies Corp.(a)	873,051
	6,958	Lorillard, Inc.	843,031
	45,905	PHH Corp.(a)	1,005,779
	16,362	Questcor Pharmaceuticals, Inc.(b)	424,594
	52,470	Tyson Foods, Inc., Class A	1,005,850
	22,848	VistaPrint NV (Netherlands)(a) (b)	709,316
	8,778	Whole Foods Market, Inc.	819,514
			10,703,534
		Energy - 9.6%
	62,550	Alon USA Energy, Inc.	889,461
	11,755	Anadarko Petroleum Corp.	860,349
	69,871	Basic Energy Services, Inc.(a)	769,978
	41,888	Chesapeake Energy Corp.	713,353
	24,022	Energy XXI Bermuda Ltd. (Bermuda)(b)	761,017
	15,422	Hess Corp.	765,085
	62,043	Rex Energy Corp.(a)	815,866
	20,886	Tesoro Corp.	883,060
	43,154	W&T Offshore, Inc.	715,062
	24,954	Williams Cos., Inc.	819,489
			7,992,720
		Financial - 18.8%
	34,633	AG Mortgage Investment Trust, Inc., REIT	853,011
	25,168	American International Group, Inc.(a)	833,816
	4,763	BlackRock, Inc.	938,501
	83,942	Boston Private Financial Holdings, Inc.	774,785
	85,824	CNO Financial Group, Inc.	780,998
	55,464	Fifth Third Bancorp	811,993
	87,977	First Horizon National Corp.	832,262
	83,359	Fulton Financial Corp.	811,083
	39,979	Invesco Mortgage Capital, Inc., REIT	846,355
	34,464	Lincoln National Corp.	851,261
	28,243	MarketAxess Holdings, Inc.	871,579
	90,046	National Penn Bancshares, Inc.	852,736
	9,445	ProAssurance Corp.	856,473
	29,520	Protective Life Corp.	801,468
	52,101	SLM Corp.	862,271
	17,144	UMB Financial Corp.	726,563
	81,425	Valley National Bancorp	776,794
	10,220	Vornado Realty Trust, REIT	781,115
	29,677	Weingarten Realty Investors, REIT	806,621
			15,669,685
		Industrial - 9.8%
	28,492	Actuant Corp., Class A	819,715
	18,988	AGCO Corp.(a)	876,296
	9,502	Caterpillar, Inc.	809,950
	21,947	EnerSys, Inc.(a)	764,633
	38,996	General Electric Co.	823,985
	23,199	HEICO Corp.	955,335
	18,311	Ingersoll-Rand PLC (Ireland)	893,211
	36,197	RTI International Metals, Inc.(a)	897,686
	153,919	Taser International, Inc.(a)	1,271,371
			8,112,182
		Technology - 5.5%
	23,657	Broadcom Corp., Class A(a)	766,014
	15,428	CACI International, Inc., Class A(a)	789,142
	62,411	Cadence Design Systems, Inc.(a)	794,492
	52,149	iGATE Corp.(a)	781,713
	79,278	Micrel, Inc.	761,862
	58,387	Pitney Bowes, Inc.(b)	653,351
			4,546,574
		Utilities - 3.9%
	25,252	El Paso Electric Co.	804,276
	38,692	Great Plains Energy, Inc.	783,513
	23,148	NorthWestern Corp.	803,004
	15,501	OGE Energy Corp.	885,572
			3,276,365
		Total Common Stocks - 94.5%
		(Cost $76,955,023)	78,580,763
		Exchange Traded Fund - 0.2%
	2,600	iShares Core S&P Small-Capital ETF	198,380
		(Cost $197,105)
		Master Limited Partnerships - 5.3%
		Basic Materials - 1.1%
	24,125	Rentech Nitrogen Partners, LP(b)	962,829
		Diversified - 1.0%
	56,619	Compass Diversified Holdings	799,460
		Energy - 2.1%
	15,937	Enterprise Products Partners, LP	826,014
	29,283	EQT Midstream Partners, LP	899,574
			1,725,588
		Financial - 1.1%
	84,361	KKR Financial Holdings, LLC(b)	886,634
		Total Master Limited Partnerships - 5.3%
		(Cost $3,895,007)	4,374,511
		Total Long-Term Investments - 100.0%
		(Cost $81,047,135)	83,153,654
		Investments of Collateral for Securities Loaned - 5.2%
	4,322,667	BNY Mellon Securities Lending Overnight Fund, 0.2159%(c) (d)	4,322,667
		(Cost $4,322,667)
		Total Investments - 105.2%
		(Cost $85,369,802)	87,476,321
		Liabilities in excess of Other Assets - (5.2%)	(4,273,622)
		Net Assets  - 100.0%	$                83,202,699

AG - Stock Corporation
LLC - Limited Liability Company
LP - Limited Partnership
NV - Publicly Traded Company
PLC - Public Limited Company
REIT - Real Estate Investment Trust
S&P - Standard & Poor's
(a)	Non-income producing security.
(b)	Security, or portion thereof, was on loan at November 30, 2012.
(c)	At November 30, 2012, the total market value of the Fund's securities on loan was $4,192,153 and the total market value of the collateral held by the Fund was $4,322,667.
(d)	Interest rate shown reflects yield as of November 30, 2012.

Country Allocation*
United States	95.5%
Ireland	2.1%
Bermuda	0.9%
Netherlands	0.9%
Australia	0.6%

* Subject ot change daily.  Based on long-term investments.

See previously submitted notes to financial statements for the period ended August 31, 2012.

At November 30, 2012, the cost and related gross unrealized appreciation and depreciation on investments for tax purposes are as follows:

Cost of Investments for Tax Purposes		Gross Tax Unrealized Appreciation		Gross Tax Unrealized Depreciation		Net Tax Unrealized Appreciation on Investments
$	85,446,908	$	7,644,605	$	(5,615,192)	$	2,029,413

Securities listed on an exchange are valued at the last reported sale price on the principal exchange or on the principal over-the-counter market on which such securities are traded, as of the close of regular trading on the New York Stock Exchange (“NYSE”) on the day the securities are being valued or, if there are no sales, at the mean of the most recent bid and asked prices. Equity securities that are traded primarily on the NASDAQ Stock Market are valued at the NASDAQ Official Closing Price. Debt securities are valued at the mean of the last available bid and ask prices for such securities or, if such prices are not available, at prices for securities of comparable maturity, quality and type. If sufficient market activity is limited or does not exist, the pricing providers or broker-dealers may utilize proprietary valuation models which consider market characteristics such as benchmark yield curves, option-adjusted spreads, credit spreads, estimated default rates, coupon rates, anticipated timing of principal repayments, underlying collateral, or other unique security features in order to estimate relevant cash flows, which are then discounted to calculate a security’s fair value. Short-term securities with maturities of 60 days or less at time of purchase are valued at amortized cost, which approximates market value. Money market funds are valued at net asset value.

For those securities where quotations or prices are not available, the valuations are determined in accordance with procedures established in good faith by management and approved by the Board of Trustees of the Trust (“Board of Trustees”). Valuations in accordance with these procedures are intended to reflect each security’s (or asset’s) “fair value.” Fair value is defined as the price that the Fund would receive to sell an investment or pay to transfer a liability in an orderly transaction with an independent buyer in the principal market, or in the absence of a principal market, the most advantageous market for the investment or liability. Each such determination is based on a consideration of all relevant factors, which are likely to vary from one pricing context to another. Examples of such factors may include, but are not limited to: (i) the type of security, (ii) the initial cost of the security, (iii) the existence of any contractual restrictions on the security’s disposition, (iv) the price and extent of public trading in similar securities of the issuer or of comparable companies, (v) quotations or evaluated prices from broker-dealers and/or pricing services, (vi) information obtained from the issuer, analysts, and/or the appropriate stock exchange (for exchange-traded securities), (vii) an analysis of the company’s financial statements, and (viii) an evaluation of the forces that influence the issuer and the market(s) in which the security is purchased and sold (e.g. the existence of pending merger activity, public offerings or tender offers that might affect the value of the security).

There are three different categories for valuations. Level 1 valuations are those based upon quoted prices in active markets. Level 2 valuations are those based upon quoted prices in inactive markets or based upon significant observable inputs (e.g. yield curves; benchmark interest rates; indices). Level 3 valuations are those based upon unobservable inputs (e.g. discounted cash flow analysis; non-market based methods used to determine fair valuation).

The Fund values Level 1 securities using readily available market quotations in active markets. The Fund values Level 2 fixed income securities using independent pricing providers who employ matrix pricing models utilizing market prices, broker quotes and prices of securities with comparable maturities and qualities. The Fund values Level 2 equity securities using various observable market inputs. The Fund did not have any Level 3 securities at November 30, 2012.

The following table represents the Funds’ investments carried by caption and by level within the fair value hierarchy as of November 30, 2012:

Description	Level 1		Level 2		Level 3		Total
(value in $000s)
Assets:
Common Stocks	$	78,581	$	-	$	-	$	78,581
Exchange Traded Funds		198		-		-		198
Master Limited Partnerships		4,374		-		-		4,374
Investments of Collateral for Securities on Loaned		4,323		-		-		4,323
Total	$	87,476	$	-	$	-	$	87,476

During the three months ended November 30, 2012, there were no transfers between levels.

CZA Guggenheim Mid-Cap Core ETF
Portfolio of Investments
November 30, 2012 (unaudited)
	Number
	of Shares	Description	Value
		Long-Term Investments - 100.0%
		Common Stocks - 90.7%
		Basic Materials - 2.6%
	6,286	Airgas, Inc.	$556,751
	6,512	Reliance Steel & Aluminum Co.	367,277
	10,657	RPM International, Inc.	309,160
			1,233,188
		Communications - 4.8%
	13,429	Amdocs Ltd. (Channel Islands)	449,334
	42,060	Liberty Interactive Corp., Class A(a)	811,758
	28,864	Nielsen Holdings NV (Netherlands)(a)	817,429
	8,727	Telephone & Data Systems, Inc.	200,808
			2,279,329
		Consumer, Cyclical - 3.2%
	9,619	Arrow Electronics, Inc.(a)	358,404
	12,922	Ingram Micro, Inc., Class A(a)	209,337
	8,500	Lear Corp.	371,195
	12,432	Tim Hortons, Inc. (Canada)	575,850
			1,514,786
		Consumer, Non-cyclical - 23.6%
	25,523	Aetna, Inc.	1,102,338
	2,303	Bio-Rad Laboratories, Inc., Class A(a)	240,640
	112,855	Boston Scientific Corp.(a)	625,217
	13,211	Bruker Corp.(a)	192,881
	26,743	Cardinal Health, Inc.	1,081,754
	17,494	CareFusion Corp.(a)	488,432
	3,814	Charles River Laboratories International, Inc.(a)	146,343
	23,409	Coca-Cola Enterprises, Inc.	729,893
	30,453	ConAgra Foods, Inc.	909,327
	9,611	Equifax, Inc.	492,468
	18,362	Genpact Ltd. (Bermuda)	294,710
	6,505	Global Payments, Inc.	285,635
	33,968	HCA Holdings, Inc.(a)	1,078,484
	12,841	Humana, Inc.	839,930
	6,189	Ingredion, Inc.	401,975
	7,128	Lender Processing Services, Inc.	177,131
	3,847	Macquarie Infrastructure Co.	165,960
	2,966	Techne Corp.	210,289
	5,918	Towers Watson & Co., Class A	312,944
	4,719	Tupperware Brands Corp.	306,027
	18,173	Vantiv, Inc.(a)	393,809
	49,482	Western Union Co.	623,968
			11,100,155
		Financial - 24.1%
	12,562	AerCap Holdings NV (Netherlands)(a)	157,151
	2,937	Allied World Assurance Co. Holdings AG (Switzerland)	238,396
	7,731	American Campus Communities, Inc., REIT	338,618
	28,731	American Capital Agency Corp., REIT	906,463
	17,047	Ameriprise Financial, Inc.	1,034,241
	10,032	Arthur J Gallagher & Co.	366,369
	10,541	Axis Capital Holdings Ltd. (Bermuda)	379,160
	5,526	BOK Financial Corp.	304,151
	11,775	Brown & Brown, Inc.	316,041
	22,253	CNA Financial Corp.	628,202
	7,885	Commerce Bancshares, Inc.	282,125
	6,445	Credicorp Ltd. (Bermuda)	901,655
	36,020	Invesco Ltd. (Bermuda)	900,140
	750	Markel Corp.(a)	359,250
	2,456	ProAssurance Corp.	222,710
	11,400	Raymond James Financial, Inc.	430,350
	115,668	Regions Financial Corp.	771,506
	6,137	Reinsurance Group of America, Inc.	314,214
	14,434	SEI Investments Co.	317,692
	39,348	SLM Corp.	651,209
	7,848	Torchmark Corp.	408,018
	14,040	Willis Group Holdings PLC (Ireland)	492,523
	24,532	XL Group PLC (Ireland)	596,864
			11,317,048
		Industrial - 11.4%
	9,045	AECOM Technology Corp.(a)	204,327
	19,632	AMETEK, Inc.	732,863
	12,868	Avnet, Inc.(a)	376,904
	9,684	Babcock & Wilcox Co.	243,940
	4,646	Crane Co.	197,176
	57,907	Flextronics International Ltd. (Singapore)(a)	335,281
	8,272	Foster Wheeler AG (Switzerland)(a)	185,789
	12,009	KBR, Inc.	333,850
	7,071	Packaging Corp. of America	257,667
	9,451	Progressive Waste Solutions Ltd. (Canada)	196,581
	30,351	Republic Services, Inc.	864,093
	5,458	Silgan Holdings, Inc.	242,772
	7,947	Sonoco Products Co.	238,966
	8,558	Timken Co.	385,538
	6,541	URS Corp.	246,465
	4,002	Wabtec Corp.	338,649
			5,380,861
		Technology - 6.6%
	10,344	Broadridge Financial Solutions, Inc.	244,222
	17,698	Compuware Corp.(a)	165,476
	24,068	Fidelity National Information Services, Inc.	868,855
	10,671	Fiserv, Inc.(a)	821,560
	24,092	Maxim Integrated Products, Inc.	703,246
	13,095	NCR Corp.(a)	313,363
			3,116,722
		Utilities - 14.4%
	62,145	AES Corp.	663,087
	9,494	AGL Resources, Inc.	370,076
	9,163	Alliant Energy Corp.	410,686
	14,366	American Water Works Co., Inc.	548,350
	7,191	Atmos Energy Corp.	251,757
	33,620	CenterPoint Energy, Inc.	663,323
	13,740	DTE Energy Co.	832,369
	15,563	MDU Resources Group, Inc.	322,465
	22,943	NiSource, Inc.	554,532
	24,974	Northeast Utilities	967,493
	7,778	OGE Energy Corp.	444,357
	8,777	Pinnacle West Capital Corp.	451,665
	13,934	Questar Corp.	273,385
			6,753,545
		Total Common Stocks - 90.7%
		(Cost $41,999,054)	42,695,634
		Exchange Traded Fund - 0.2%
	650	iShares Russell Midcap Index Fund	72,442
		(Cost $68,805)
		Master Limited Partnerships - 9.1%
		Basic Materials - 0.3%
	5,622	CVR Partners, LP(b)	147,577
		Energy - 8.4%
	16,318	Boardwalk Pipeline Partners, LP	420,841
	15,867	El Paso Pipeline Partners, LP	592,315
	17,836	Magellan Midstream Partners, LP	793,345
	9,287	MarkWest Energy Partners, LP	479,952
	17,253	ONEOK Partners, LP	1,004,987
	7,807	Spectra Energy Partners, LP	232,571
	8,470	Sunoco Logistics Partners, LP	430,446
			3,954,457
		Financial - 0.4%
	39,548	Fortress Investment Group, LLC	167,288
		Total Master Limited Partnerships - 9.1%
		(Cost $3,862,416)	4,269,322
		Total Long-Term Investments - 100.0%
		(Cost $45,930,275)	47,037,398
		Investments of Collateral for Securities Loaned - 0.0%*
	10,680	BNY Mellon Securities Lending Overnight Fund, 0.2159%(c) (d)	10,680
		(Cost $10,680)
		Total Investments - 100.0%
		(Cost $45,940,955)	47,048,078
		Other Assets in excess of Liabilities - 0.0%*	19,907
		Net Assets  - 100.0%	$                47,067,985

*Less than 0.1%
AG - Stock Corporation
LLC - Limited Liability Company
LP - Limited Partnership
NV - Publicly Traded Company
PLC - Public Limited Company
REIT - Real Estate Investment Trust
(a)	Non-income producing security.
(b)	Security, or portion thereof, was on loan at November 30, 2012.
(c)	At November 30, 2012, the total market value of the Fund's securities on loan was $10,464 and the total market value of the collateral held by the Fund was $10,680.
(d)	Interest rate shown reflects yield as of November 30, 2012.
Securities are classified by sectors that represent broad groupings of related industries.
See previously submitted notes to financial statements for the period ended August 31, 2012.

Country Allocation**
United States	86.1%
Bermuda	5.3%
Ireland	2.3%
Netherlands	2.1%
Canada	1.6%
Channel Islands	1.0%
Switzerland	0.9%
Singapore	0.7%
** Subject to change daily.  Based on long-term investments.

At November 30, 2012, the cost and related gross unrealized appreciation and depreciation on investments for tax purposes are as follows:

Cost of Investments for Tax Purposes		Gross Tax Unrealized Appreciation		Gross Tax Unrealized Depreciation		Net Tax Unrealized Appreciation on Investments
$	45,957,194	$	2,369,848	$	(1,278,964)	$	1,090,884

Securities listed on an exchange are valued at the last reported sale price on the principal exchange or on the principal over-the-counter market on which such securities are traded, as of the close of regular trading on the New York Stock Exchange (“NYSE”) on the day the securities are being valued or, if there are no sales, at the mean of the most recent bid and asked prices. Equity securities that are traded primarily on the NASDAQ Stock Market are valued at the NASDAQ Official Closing Price. Debt securities are valued at the mean of the last available bid and ask prices for such securities or, if such prices are not available, at prices for securities of comparable maturity, quality and type. If sufficient market activity is limited or does not exist, the pricing providers or broker-dealers may utilize proprietary valuation models which consider market characteristics such as benchmark yield curves, option-adjusted spreads, credit spreads, estimated default rates, coupon rates, anticipated timing of principal repayments, underlying collateral, or other unique security features in order to estimate relevant cash flows, which are then discounted to calculate a security’s fair value. Short-term securities with maturities of 60 days or less at time of purchase are valued at amortized cost, which approximates market value. Money market funds are valued at net asset value.

For those securities where quotations or prices are not available, the valuations are determined in accordance with procedures established in good faith by management and approved by the Board of Trustees of the Trust (“Board of Trustees”). Valuations in accordance with these procedures are intended to reflect each security’s (or asset’s) “fair value.” Fair value is defined as the price that the Fund would receive to sell an investment or pay to transfer a liability in an orderly transaction with an independent buyer in the principal market, or in the absence of a principal market, the most advantageous market for the investment or liability. Each such determination is based on a consideration of all relevant factors, which are likely to vary from one pricing context to another. Examples of such factors may include, but are not limited to: (i) the type of security, (ii) the initial cost of the security, (iii) the existence of any contractual restrictions on the security’s disposition, (iv) the price and extent of public trading in similar securities of the issuer or of comparable companies, (v) quotations or evaluated prices from broker-dealers and/or pricing services, (vi) information obtained from the issuer, analysts, and/or the appropriate stock exchange (for exchange-traded securities), (vii) an analysis of the

company’s financial statements, and (viii) an evaluation of the forces that influence the issuer and the market(s) in which the security is purchased and sold (e.g. the existence of pending merger activity, public offerings or tender offers that might affect the value of the security).

There are three different categories for valuations. Level 1 valuations are those based upon quoted prices in active markets. Level 2 valuations are those based upon quoted prices in inactive markets or based upon significant observable inputs (e.g. yield curves; benchmark interest rates; indices). Level 3 valuations are those based upon unobservable inputs (e.g. discounted cash flow analysis; non-market based methods used to determine fair valuation).

The Fund values Level 1 securities using readily available market quotations in active markets. The Fund values Level 2 fixed income securities using independent pricing providers who employ matrix pricing models utilizing market prices, broker quotes and prices of securities with comparable maturities and qualities. The Fund values Level 2 equity securities using various observable market inputs. The Fund did not hold any Level 3 securities during the three months ended November 30, 2012.

The following table represents the Fund’s investments carried by caption and by level within the fair value hierarchy as of November 30, 2012:

Description	Level 1		Level 2		Level 3		Total
(value in $000s)
Assets:
Common Stocks	$	42,696	$	-	$	-	$	42,696
Master Limited Partnership		4,269		-		-		4,269
Exchange Traded Fund		72		-		-		72
Investments of Collateral for Securities Loaned		11		-		-		11
Total	$	47,048	$	-	$	-	$	47,048

During the three months ended November 30, 2012, there were no transfers between levels.

CVY Guggenheim Multi-Asset Income ETF
Portfolio of Investments
November 30, 2012 (unaudited)
	Number
	of Shares	Description	Value
		Long-Term Investments - 99.5%
		Convertible Preferred Stocks - 2.4%
		Consumer, Cyclical - 1.2%
	242,733	General Motors Co., Series B, 4.75%, 12/01/2013(a)	$9,823,405
		Financial - 1.2%
	8,197	Bank of America Corp., Series L, 7.25%(b)	9,123,261
		Total Convertible Preferred Stocks - 2.4%
		(Cost $16,816,545)	18,946,666
		Common Stocks - 74.6%
		Basic Materials - 6.0%
	107,025	A. Schulman, Inc.	2,801,914
	1,176,766	Cia Siderurgica Nacional SA, ADR (Brazil)	5,683,780
	268,775	Dow Chemical Co.	8,114,317
	158,347	EI du Pont de Nemours & Co.	6,831,090
	218,161	Freeport-McMoRan Copper & Gold, Inc.	8,510,461
	311,031	Kronos Worldwide, Inc.(a)	5,010,709
	170,224	LyondellBasell Industries NV, Class A (Netherlands)	8,465,239
	121,308	Olin Corp.	2,514,715
			47,932,225
		Communications - 6.2%
	368,694	Belo Corp., Class A	2,654,597
	39,335	Chunghwa Telecom Co. Ltd., ADR (Taiwan)(a)	1,264,620
	289,041	France Telecom SA, ADR (France)	3,095,629
	345,885	Gannett Co., Inc.	6,191,341
	151,194	KT Corp., ADR (South Korea)	2,602,049
	79,843	Meredith Corp.(a)	2,489,505
	2,793,541	Nokia OYJ, ADR (Finland)(a)	9,106,944
	127,060	Shaw Communications, Inc., Class B (Canada)(a)	2,792,779
	244,272	Sinclair Broadcast Group, Inc., Class A	2,694,320
	340,599	SK Telecom Co. Ltd., ADR (South Korea)	5,200,947
	627,217	Telefonica SA, ADR (Spain)	8,172,637
	42,019	TELUS Corp. (Canada)	2,724,092
			48,989,460
		Consumer, Cyclical - 4.7%
	88,513	Cato Corp., Class A	2,572,188
	101,599	Darden Restaurants, Inc.	5,372,555
	276,631	GameStop Corp., Class A(a)	7,261,564
	140,715	Hasbro, Inc.	5,411,899
	150,201	Mattel, Inc.	5,634,039
	88,029	McDonald's Corp.	7,662,044
	268,003	Steelcase, Inc., Class A	3,119,555
			37,033,844
		Consumer, Non-cyclical - 13.4%
	180,661	American Greetings Corp., Class A(a)	3,114,596
	168,364	AstraZeneca PLC, ADR (United Kingdom)	8,004,024
	180,326	B&G Foods, Inc.	5,261,913
	64,703	Cal-Maine Foods, Inc.	2,974,397
	91,633	Deluxe Corp.	2,639,030
	200,300	General Mills, Inc.	8,210,297
	141,379	HJ Heinz Co.	8,265,016
	116,831	Johnson & Johnson	8,146,626
	62,766	Lorillard, Inc.	7,604,729
	182,989	Merck & Co., Inc.	8,106,413
	353,216	PDL BioPharma, Inc.(a)	2,790,406
	330,173	Pfizer, Inc.	8,260,928
	88,220	Philip Morris International, Inc.	7,929,214
	117,246	Procter & Gamble Co.	8,187,288
	114,492	Reynolds American, Inc.	5,005,590
	503,375	Safeway, Inc.(a)	8,612,746
	54,812	Universal Corp.	2,735,119
			105,848,332
		Energy - 8.2%
	190,327	Baytex Energy Corp. (Canada)(a)	8,406,744
	70,236	Chevron Corp.	7,423,243
	138,716	ConocoPhillips	7,898,489
	121,197	Ecopetrol SA, ADR (Colombia)(a)	7,046,393
	549,495	Enerplus Corp. (Canada)(a)	7,297,294
	116,088	Eni SpA, ADR (Italy)	5,506,054
	1,279,993	Pengrowth Energy Corp. (Canada)(a)	6,591,964
	610,253	Penn West Petroleum Ltd. (Canada)(a)	6,737,193
	157,996	Total SA, ADR (France)	7,925,079
			64,832,453
		Financial - 17.8%
	227,646	Aircastle Ltd. (Bermuda)	2,588,335
	226,112	American Capital Agency Corp., REIT	7,133,834
	455,101	Annaly Capital Management, Inc., REIT	6,699,087
	1,056,002	ARMOUR Residential REIT, Inc., REIT	7,392,014
	376,631	Banco Bilbao Vizcaya Argentaria SA, ADR (Spain)(a)	3,182,532
	1,119,005	Banco Santander SA, ADR (Spain)(a)	8,571,578
	315,304	Brookfield Office Properties, Inc. (Canada)(a)	5,120,537
	143,491	CME Group, Inc.	7,930,747
	94,929	Cullen/Frost Bankers, Inc.	5,184,073
	547,830	CYS Investments, Inc., REIT	7,006,746
	57,023	EPR Properties, REIT	2,585,993
	159,685	First Financial Bancorp	2,320,223
	668,959	First Niagara Financial Group, Inc.	5,043,951
	90,668	Government Properties Income Trust, REIT(a)	2,089,897
	129,725	Homeowners Choice, Inc.	2,699,577
	163,642	Hospitality Properties Trust, REIT	3,714,673
	212,110	JPMorgan Chase & Co.	8,713,479
	60,736	M&T Bank Corp.(a)	5,935,729
	168,178	Mack-Cali Realty Corp., REIT	4,251,540
	191,024	Medical Properties Trust, Inc., REIT	2,229,250
	292,096	National Penn Bancshares, Inc.	2,766,149
	642,657	Newcastle Investment Corp., REIT	5,391,892
	203,338	Omega Healthcare Investors, Inc., REIT	4,660,507
	71,910	PartnerRe Ltd. (Bermuda)	5,959,901
	356,138	Senior Housing Properties Trust, REIT	7,959,684
	150,530	Starwood Property Trust, Inc., REIT	3,441,116
	679,702	Two Harbors Investment Corp., REIT	7,694,227
	117,315	Washington Real Estate Investment Trust, REIT	3,040,805
			141,308,076
		Industrial - 10.0%
	176,157	Eaton Corp. PLC (Ireland)(a)	9,188,349
	130,808	Garmin Ltd. (Switzerland)(a)	5,087,123
	380,385	General Electric Co.	8,037,535
	143,468	Hillenbrand, Inc.	3,035,783
	116,892	Kaydon Corp.	2,692,023
	86,435	Lockheed Martin Corp.	8,064,386
	198,801	Molex, Inc.	5,244,370
	78,910	Northrop Grumman Corp.	5,263,297
	139,380	Raytheon Co.	7,962,779
	68,182	Sauer-Danfoss, Inc.	3,581,600
	369,873	Sealed Air Corp.	6,221,264
	161,071	Ship Finance International Ltd. (Bermuda)(a)	2,607,740
	121,896	Sturm Ruger & Co., Inc.(a)	7,141,887
	76,437	TAL International Group, Inc.	2,602,680
	73,602	Textainer Group Holdings Ltd. (Bermuda)	2,221,308
			78,952,124
		Technology - 3.3%
	302,642	CA, Inc.	6,706,547
	162,003	Diebold, Inc.	4,845,510
	317,270	Intel Corp.	6,208,974
	246,103	Seagate Technology PLC (Ireland)	6,177,185
	305,029	STMicroelectronics NV (Netherlands)	1,939,984
			25,878,200
		Utilities - 5.0%
	59,656	American States Water Co.	2,714,348
	128,956	Cleco Corp.	5,195,637
	77,530	Entergy Corp.	4,926,256
	85,332	National Grid PLC, ADR (United Kingdom)	4,833,205
	140,114	Northeast Utilities	5,428,017
	79,731	Sempra Energy	5,455,195
	173,168	UGI Corp.	5,752,641
	189,247	Xcel Energy, Inc.	5,119,131
			39,424,430
		Total Common Stocks - 74.6%
		(Cost $571,686,000)	590,199,144
		Preferred Stocks - 1.2%
		Financial - 1.2%
	165,009	PNC Financial Services Group, Inc., Series P, 6.13%(b)	4,498,145
	197,035	Royal Bank of Scotland Group PLC, Series T, 7.25% (United Kingdom)(b)	4,746,573
		(Cost $9,121,518)	9,244,718
		Master Limited Partnerships - 10.7%
		Energy - 10.3%
	197,282	Atlas Pipeline Partners, LP(a)	6,508,333
	173,749	Buckeye Partners, LP, Class B(a)	8,732,625
	264,736	Enbridge Energy Partners, LP	7,682,639
	141,601	Energy Transfer Equity, LP	6,438,597
	204,689	Energy Transfer Partners, LP	8,983,800
	94,418	Enterprise Products Partners, LP	4,893,685
	94,127	EV Energy Partners, LP(a)	5,713,509
	77,092	Kinder Morgan Energy Partners, LP	6,283,769
	117,733	Magellan Midstream Partners, LP	5,236,764
	123,139	MarkWest Energy Partners, LP	6,363,824
	120,173	Plains All American Pipeline, LP	5,597,658
	169,819	SandRidge Mississippian Trust I(a)	2,727,293
	128,293	Williams Partners, LP(a)	6,531,397
			81,693,893
		Financial - 0.4%
	179,214	Chesapeake Granite Wash Trust(a)	3,344,133
		Total Master Limited Partnerships - 10.7%
		(Cost $82,329,308)	85,038,026
		Royalty Trusts - 1.0%
		Energy - 1.0%
	66,891	BP Prudhoe Bay Royalty Trust(a)	4,933,211
	196,943	Whiting USA Trust II	3,206,232
		(Cost $9,789,256)	8,139,443
		Closed End Funds - 9.6%
	1,660,814	Alpine Total Dynamic Dividend Fund	6,859,162
	348,654	BlackRock Build America Bond Trust(a)	8,113,179
	680,185	BlackRock International Growth and Income Trust	5,006,162
	255,687	Clough Global Opportunities Fund	2,820,228
	281,545	Eaton Vance Tax-Advantaged Dividend Income Fund	4,758,110
	300,938	Eaton Vance Tax-Advantaged Global Dividend Income Fund	4,158,963
	59,691	First Trust Aberdeen Global Opportunity Income Fund	1,073,244
	183,509	First Trust High Income Long/Short Fund	3,286,646
	353,128	Invesco Dynamic Credit Opportunities Fund(a)	4,431,756
	207,368	MFS Charter Income Trust	2,113,080
	283,597	MFS Multimarket Income Trust	2,064,586
	356,788	Morgan Stanley Emerging Markets Domestic Debt Fund, Inc.	5,929,817
	343,371	NexPoint Credit Strategies Fund	2,194,141
	561,258	Nuveen Credit Strategies Income Fund	5,438,590
	114,364	Nuveen Municipal Advantage Fund	1,843,548
	538,456	Nuveen Preferred Income Opportunities Fund	5,271,484
	576,641	Putnam Premier Income Trust	3,125,394
	368,053	Wells Fargo Advantage Global Dividend Opportunity Fund(a)	2,826,647
	174,994	Wells Fargo Advantage Multi-Sector Income Fund(a)	2,826,153
	84,697	Western Asset Global Corporate Defined Opportunity Fund, Inc.	1,725,278
		(Cost $75,699,393)	75,866,168
		Total Long-Term Investments - 99.5%
		(Cost $765,442,020)	787,434,165
		Investments of Collateral for Securities Loaned - 14.7%
	115,977,111	BNY Mellon Securities Lending Overnight Fund, 0.2159%(c) (d)	115,977,111
		(Cost $115,977,111)
		Total Investments - 114.2%
		(Cost $881,419,131)	903,411,276
		Liabilities in excess of Other Assets - (14.2%)	(112,190,833)
		Net Assets  - 100.0%	$              791,220,443

ADR - American Depositary Receipt
LP - Limited Partnership
NV - Publicly Traded Company
OYJ - Public Traded Company
PLC - Public Limited Company
REIT - Real Estate Investment Trust
SA - Corporation
SpA - Limited Share Company
(a)	Security, or portion thereof, was on loan at November 30, 2012.
(b)	Perpetual maturity.
(c)	At November 30, 2012, the total market value of the Fund's securities on loan was $114,848,628 and the total market value of the collateral held by the Fund was $117,845,139, consisting of cash collateral of $115,977,111 and U.S. Government and Agency securities valued at $1,868,028.
(d)	Interest rate shown reflects yield as of November 30, 2012.
Securities are classified by sectors that represent broad groupings of related industries.
See previously submitted notes to financial statements for the period ended August 31, 2012.

Country Allocation*
United States	78.6%
Canada	5.0%
Spain	2.5%
United Kingdom	2.2%
Ireland	2.0%
Bermuda	1.7%
France	1.4%
Netherlands	1.3%
Finland	1.2%
South Korea	1.0%
Colombia	0.9%
Brazil	0.7%
Italy	0.7%
Switzerland	0.6%
Taiwan	0.2%
* Subject to change daily. Based on long-term investments.

At November 30, 2012, the cost and related gross unrealized appreciation and depreciation on investments for

tax purposes are as follows:

Cost of Investments for Tax Purposes		Gross Tax Unrealized Appreciation		Gross Tax Unrealized Depreciation		Net Tax Unrealized Appreciation on Investments
$	883,079,709	$	49,800,499	$	(29,468,932)	$	20,331,567

Securities listed on an exchange are valued at the last reported sale price on the principal exchange or on the principal over-the-counter market on which such securities are traded, as of the close of regular trading on the New York Stock Exchange ("NYSE") on the day the securities are being valued or, if there are no sales, at the mean of the most recent bid and asked prices. Equity securities that are traded primarily on the NASDAQ Stock Market are valued at the NASDAQ Official Closing Price. Debt securities are valued at the mean of the last available bid and ask prices for such securities or, if such prices are not available, at prices for securities of comparable maturity, quality and type. If sufficient market activity is limited or does not exist, the pricing providers or broker-dealers may utilize proprietary valuation models which consider market characteristics such as benchmark yield curves, option-adjusted spreads, credit spreads, estimated default rates, coupon rates, anticipated timing of principal repayments, underlying collateral, or other unique security features in order to estimate relevant cash flows, which are then discounted to calculate a security's fair value. Short-term securities with maturities of 60 days or less at time of purchase are valued at amortized cost, which approximates market value. Money market funds are valued at net asset value.

For those securities where quotations or prices are not available, the valuations are determined in accordance with procedures established in good faith by management and approved by the Board of Trustees of the Trust (“Board of Trustees”). Valuations in accordance with these procedures are intended to reflect each security’s (or asset’s) “fair value.” Fair value is defined as the price that the Fund would receive to sell an investment or pay to transfer a liability in an orderly transaction with an independent buyer in the principal market, or in the absence of a principal market, the most advantageous market for the investment or liability. Each such determination is based on a consideration of all relevant factors, which are likely to vary from one pricing context to another. Examples of such factors may include, but are not limited to: (i) the type of security, (ii) the initial cost of the security, (iii) the existence of any contractual restrictions on the security’s disposition, (iv) the price and extent of public trading in similar securities of the issuer or of comparable companies, (v) quotations or evaluated prices from broker-dealers and/or pricing services, (vi) information obtained from the issuer, analysts, and/or the appropriate stock exchange (for exchange-traded securities), (vii) an analysis of the company’s financial statements, and (viii) an evaluation of the forces that influence the issuer and the market(s) in which the security is purchased and sold (e.g. the existence of pending merger activity, public offerings or tender offers that might affect the value of the security).

There are three different categories for valuations.  Level 1 valuations are those based upon quoted prices in active markets. Level 2 valuations are those based upon quoted prices in inactive markets or based upon significant observable inputs (e.g. yield curves; benchmark interest rates; indices).  Level 3 valuations are those based upon unobservable inputs (e.g. discounted cash flow analysis; non-market based methods used to determine fair valuation).

The Fund values Level 1 securities using readily available market quotations in active markets.  The Fund values Level 2 fixed income securities using independent pricing providers who employ matrix pricing models utilizing market prices, broker quotes and prices of securities with comparable maturities and qualities.  The Fund values Level 2 equity securities using various observable market inputs. The Fund did not have any Level 3 securities at November 30, 2012.

The following table represents the Fund's investments carried by caption and by level within the fair value hierarchy as of November 30, 2012.

Description	Level 1		Level 2		Level 3		Total
(value in $000s)
Assets:
Common Stocks	$	590,199	$	-	$	-		590,199
Master Limited Partnerships		85,038		-		-		85,038
Closed End Funds		75,866		-		-		75,866
Preferred Stocks		9,245		-		-		9,245
Convertible Preferred Stocks		18,947		-		-		18,947
Royalty Trusts		8,139		-		-		8,139
Investments of Collateral for Securities Loaned		115,977		-		-		115,977
Total	$	903,411	$	-	$	-	$	903,411

During the three months ended November 30, 2012, there were no transfers between levels.

RYJ Guggenheim Raymond James SB-1 Equity ETF
Portfolio of Investments
November 30, 2012 (unaudited)
	Number
	of Shares	Description	Value
		Long-Term Investments - 99.9%
		Common Stocks - 95.0%
		Communications - 9.2%
	59,444	Brightcove, Inc.(a)	$577,796
	15,448	CenturyLink, Inc.	600,000
	114,431	Cincinnati Bell, Inc.(a)	609,917
	8,970	Crown Castle International Corp.(a)	605,654
	30,562	Ctrip.com International Ltd., ADR (Cayman Islands)(a) (b)	583,734
	24,189	DigitalGlobe, Inc.(a)	603,274
	3,257	Equinix, Inc.(a)	605,020
	98,354	Iridium Communications, Inc.(a)	606,844
	19,972	KVH Industries, Inc.(a)	252,846
	39,096	NIC, Inc.	586,831
	10,618	Palo Alto Networks, Inc.(a) (b)	577,832
	8,823	SBA Communications Corp., Class A(a)	607,199
	32,217	ValueClick, Inc.(a)	607,935
	34,880	Vocus, Inc.(a)	595,053
			8,019,935
		Consumer, Cyclical - 23.3%
	7,767	Advance Auto Parts, Inc.	568,156
	8,296	Allegiant Travel Co.	614,070
	31,769	Ameristar Casinos, Inc.	632,203
	16,307	Arctic Cat, Inc.(a)	613,632
	1,557	AutoZone, Inc.(a)	597,530
	10,077	Bed Bath & Beyond, Inc.(a)	591,721
	23,578	Brunswick Corp.	607,605
	92,830	Callaway Golf Co.	625,674
	40,206	Carmike Cinemas, Inc.(a)	607,915
	22,430	Cinemark Holdings, Inc.	610,096
	12,994	Culp, Inc.	185,035
	9,595	DineEquity, Inc.(a)	604,965
	4,764	Dixie Group, Inc.(a)	15,150
	12,019	Dollar General Corp.(a)	600,950
	14,471	Dollar Tree, Inc.(a)	604,020
	20,337	Ethan Allen Interiors, Inc.	589,976
	12,663	Harley-Davidson, Inc.	594,654
	29,312	Herman Miller, Inc.	619,069
	47,910	Ignite Restaurant Group, Inc.(a)	608,457
	42,201	Knoll, Inc.	606,006
	36,306	La-Z-Boy, Inc.	541,686
	27,857	Newell Rubbermaid, Inc.	607,561
	6,469	O'Reilly Automotive, Inc.(a)	608,604
	30,360	Pier 1 Imports, Inc.	582,608
	48,259	Pinnacle Entertainment, Inc.(a)	623,506
	7,001	Polaris Industries, Inc.	593,755
	18,531	Red Robin Gourmet Burgers, Inc.(a)	606,890
	38,415	Regal Entertainment Group, Class A	598,506
	22,295	Select Comfort Corp.(a)	597,060
	52,705	SkyWest, Inc.	610,851
	12,258	Stanley Furniture Co., Inc.(a)	55,161
	52,105	Steelcase, Inc., Class A	606,502
	22,651	Tempur-Pedic International, Inc.(a)	603,649
	6,653	Tractor Supply Co.	596,242
	5,939	Whirlpool Corp.	604,828
	13,399	Williams-Sonoma, Inc.	606,439
			20,140,732
		Consumer, Non-cyclical - 8.0%
	33,392	Alere, Inc.(a)	617,752
	14,436	AmerisourceBergen Corp.	609,488
	34,617	Capital Senior Living Corp.(a)	616,529
	21,428	CareFusion Corp.(a)	598,270
	26,448	Carriage Services, Inc.	293,837
	6,259	Cooper Cos., Inc.	594,229
	10,369	Covidien PLC (Ireland)	602,543
	27,612	HealthSouth Corp.(a)	607,188
	31,602	Hologic, Inc.(a)	602,966
	43,150	Merit Medical Systems, Inc.(a)	598,922
	42,871	Service Corp. International	597,193
	50,961	TMS International Corp., Class A(a)	560,571
			6,899,488
		Energy - 2.1%
	18,926	CONSOL Energy, Inc.	593,330
	15,508	Linn Co. LLC	599,074
	19,102	Valero Energy Corp.	616,230
			1,808,634
		Financial - 26.4%
	14,722	Allstate Corp.	595,947
	52,289	American Equity Investment Life Holding Co.	602,892
	61,600	Bank of America Corp.	607,376
	21,145	BB&T Corp.	595,655
	171,482	BGC Partners, Inc.	617,335
	39,485	Cardinal Financial Corp.	592,275
	16,982	Citigroup, Inc.	587,068
	22,261	Community Bank System, Inc.	598,376
	9,260	Digital Realty Trust, Inc., REIT	597,640
	4,249	Essex Property Trust, Inc., REIT	596,942
	35,998	Fidus Investment Corp.	611,966
	55,664	Fifth Street Finance Corp.	600,058
	40,868	Fifth Third Bancorp	598,307
	96,129	Huntington Bancshares, Inc.	591,193
	28,699	Lakeland Bancorp, Inc.	274,075
	21,137	Lakeland Financial Corp.	522,929
	24,467	Lincoln National Corp.	604,335
	16,880	Marsh & McLennan Cos., Inc.	594,514
	9,471	Mid-America Apartment Communities, Inc., REIT	590,233
	62,703	National Penn Bancshares, Inc.	593,797
	46,891	New York Community Bancorp, Inc.	610,052
	51,654	Old National Bancorp	606,418
	12,489	Pacific Premier Bancorp, Inc.(a)	130,385
	80,821	Park Sterling Corp.(a)	424,310
	12,402	Post Properties, Inc., REIT	609,310
	21,781	Principal Financial Group, Inc.	591,354
	27,819	Progressive Corp.	591,154
	22,600	Protective Life Corp.	613,590
	11,706	Prudential Financial, Inc.	610,117
	12,307	Rayonier, Inc., REIT	613,381
	90,295	Regions Financial Corp.	602,268
	23,182	StellarOne Corp.	299,048
	13,447	Texas Capital Bancshares, Inc.(a)	605,653
	24,298	Triangle Capital Corp.	620,085
	18,537	US Bancorp	598,004
	23,304	Virginia Commerce Bancorp, Inc.(a)	202,046
	4,054	Visa, Inc., Class A	606,924
	28,447	Webster Financial Corp.	592,266
	18,236	Wells Fargo & Co.	601,970
	16,329	Wintrust Financial Corp.	600,744
	29,796	Zions Bancorporation	598,006
			22,899,998
		Industrial - 13.3%
	20,492	American Railcar Industries, Inc.	629,719
	128,519	Casella Waste Systems, Inc., Class A(a)	568,054
	34,838	Celadon Group	602,001
	9,782	CH Robinson Worldwide, Inc.	603,941
	32,323	Covanta Holding Corp.	610,258
	33,713	Dycom Industries, Inc.(a)	605,485
	6,708	FedEx Corp.	600,567
	105,317	Flextronics International Ltd. (Singapore)(a)	609,785
	14,422	GATX Corp.	607,599
	33,810	Greenbrier Cos., Inc.(a)	646,109
	29,962	Harsco Corp.	603,734
	31,769	Jabil Circuit, Inc.	603,611
	7,504	Kansas City Southern	586,438
	10,096	Norfolk Southern Corp.	609,596
	33,058	Roadrunner Transportation Systems, Inc.(a)	595,375
	28,444	Saia, Inc.(a)	616,097
	19,035	Trinity Industries, Inc.	604,742
	8,250	United Parcel Service, Inc., Class B	603,158
	18,416	Waste Connections, Inc.	606,255
			11,512,524
		Technology - 12.7%
	18,866	Altera Corp.	611,070
	14,820	Analog Devices, Inc.	601,692
	9,296	athenahealth, Inc.(a)	592,062
	60,905	Dell, Inc.	587,124
	41,582	Diodes, Inc.(a)	629,551
	24,218	EMC Corp.(a)	601,091
	41,486	Epocrates, Inc.(a)	418,594
	46,056	Fairchild Semiconductor International, Inc.(a)	614,387
	88,679	LSI Corp.(a)	597,696
	36,019	MedAssets, Inc.(a)	579,906
	104,761	Micron Technology, Inc.(a)	626,471
	32,498	Microsemi Corp.(a)	622,012
	27,346	Nuance Communications, Inc.(a)	608,175
	48,974	NVIDIA Corp.	586,709
	34,682	Pericom Semiconductor Corp.(a)	260,809
	23,868	Semtech Corp.(a)	652,790
	27,485	Skyworks Solutions, Inc.(a)	622,535
	47,188	Tangoe, Inc.(a)	615,331
	19,213	VeriFone Systems, Inc.(a)	583,883
			11,011,888
		Total Common Stocks - 95.0%
		(Cost $77,024,006)	82,293,199
		Master Limited Partnerships - 4.9%
		Energy - 3.5%
	13,310	Alliance Holdings GP, LP	610,796
	10,795	Alliance Resource Partners, LP	613,912
	11,551	Enterprise Products Partners, LP	598,688
	15,160	Linn Energy, LLC	600,791
	13,119	Tesoro Logistics, LP	604,786
			3,028,973
		Industrial - 1.4%
	16,087	Teekay LNG Partners, LP (Marshall Islands)	608,732
	22,764	Teekay Offshore Partners, LP (Marshall Islands)(b)	606,206
			1,214,938
		Total Master Limited Partnerships - 4.9%
		(Cost $3,805,922)	4,243,911
		Total Long-Term Investments - 99.9%
		(Cost $80,829,928)	86,537,110
		Investments of Collateral for Securities Loaned - 1.6%
	1,350,731	BNY Mellon Securities Lending Overnight Fund, 0.2159%(c) (d)	1,350,731
		(Cost $1,350,731)
		Total Investments - 101.5%
		(Cost $82,180,659)	87,887,841
		Liabilities in excess of Other Assets - (1.5%)	(1,314,376)
		Net Assets  - 100.0%	$                86,573,465

ADR - American Depositary Receipt
LLC - Limited Liability Company
LP - Limited Partnership
PLC - Public Limited Company
REIT - Real Estate Investment Trust
(a)	Non-income producing security.
(b)	Security, or portion thereof, was on loan at November 30, 2012.
(c)	At November 30, 2012, the total market value of the Fund's securities on loan was $1,319,933 and the total market value of the collateral held by the Fund was $1,350,731.
(d)	Interest rate shown reflects yield as of November 30, 2012.
Securities are classified by sectors that represent broad groupings of related industries.
See previously submitted notes to financial statements for the period ended August 31, 2012.

Country Allocation*
United States	96.5%
Marshall Islands	1.4%
Singapore	0.7%
Ireland	0.7%
Cayman Islands	0.7%
* Subject to change daily.  Based on long-term investments.

At November 30, 2012, the cost and related gross unrealized appreciation and depreciation on investments for tax purposes are as follows:

Cost of Investments for Tax Purposes		Gross Tax Unrealized Appreciation		Gross Tax Unrealized Depreciation			Net Tax Unrealized Appreciation on Investments
$	84,311,270	$	7,719,853	$	(4,143,282	)	$	3,576,571

Securities listed on an exchange are valued at the last reported sale price on the principal exchange or on the principal over-the-counter market on which such securities are traded, as of the close of regular trading on the New York Stock Exchange (“NYSE”) on the day the securities are being valued or, if there are no sales, at the mean of the most recent bid and asked prices. Equity securities that are traded primarily on the NASDAQ Stock Market are valued at the NASDAQ Official Closing Price. Debt securities are valued at the mean of the last available bid and ask prices for such securities or, if such prices are not available, at prices for securities of comparable maturity, quality and type. If sufficient market activity is limited or does not exist, the pricing providers or broker-dealers may utilize proprietary valuation models which consider market characteristics such as benchmark yield curves, option-adjusted spreads, credit spreads, estimated default rates, coupon rates, anticipated timing of principal repayments, underlying collateral, or other unique security features in order to estimate relevant cash flows, which are then discounted to calculate a security’s fair value. Short-term securities with maturities of 60 days or less at time of purchase are valued at amortized cost, which approximates market value. Money market funds are valued at net asset value.

For those securities where quotations or prices are not available, the valuations are determined in accordance with procedures established in good faith by management and approved by the Board of Trustees of the Trust (“Board of Trustees”). Valuations in accordance with these procedures are intended to reflect each security’s (or asset’s) “fair value.” Fair value is defined as the price that the Fund would receive to sell an investment or pay to transfer a liability in an orderly transaction with an independent buyer in the principal market, or in the absence of a principal market, the most advantageous market for the investment or liability. Each such determination is based on a consideration of all relevant factors, which are likely to vary from one pricing context to another. Examples of such factors may include, but are not limited to: (i) the type of security, (ii) the initial cost of the security, (iii) the existence of any contractual restrictions on the security’s disposition, (iv) the price and extent of public trading in similar securities of the issuer or of comparable companies, (v) quotations or evaluated prices from broker-dealers and/or pricing services, (vi) information obtained from the issuer, analysts, and/or the appropriate stock exchange (for exchange-traded securities), (vii) an analysis of the

company’s financial statements, and (viii) an evaluation of the forces that influence the issuer and the market(s) in which the security is purchased and sold (e.g. the existence of pending merger activity, public offerings or tender offers that might affect the value of the security).

There are three different categories for valuations. Level 1 valuations are those based upon quoted prices in active markets. Level 2 valuations are those based upon quoted prices in inactive markets or based upon significant observable inputs (e.g. yield curves; benchmark interest rates; indices). Level 3 valuations are those based upon unobservable inputs (e.g. discounted cash flow analysis; non-market based methods used to determine fair valuation).

The Fund values Level 1 securities using readily available market quotations in active markets. The Fund values Level 2 fixed income securities using independent pricing providers who employ matrix pricing models utilizing market prices, broker quotes and prices of securities with comparable maturities and qualities. The Fund values Level 2 equity securities using various observable market inputs. The Fund did not hold any Level 3 securities during the three months ended November 30, 2012.

The following table represents the Fund’s investments carried by caption and by level within the fair value hierarchy as of November 30, 2012:

Description	Level 1		Level 2		Level 3		Total
(value in $000s)
Assets:
Common Stocks	$	82,293	$	-	$	-	$	82,293
Master Limited Partnership		4,244		-		-		4,244
Investments of Collateral for Securities Loaned		1,351		-		-		1,351
Total	$	87,888	$	-	$	-	$	87,888

During the three months ended November 30, 2012, there were no transfers between levels.

CSD Guggenheim Spin-Off ETF
Portfolio of Investments
November 30, 2012 (unaudited)
	Number
	of Shares	Description	Value
		Long-Term Investments - 100.0%
		Common Stocks - 99.8%
		Basic Materials - 4.4%
	37,498	Mosaic Co.	$2,027,142
		Communications - 28.5%
	48,098	AMC Networks, Inc., Class A(a)	2,537,650
	21,711	Liberty Media Corp. - Liberty Capital, Class A(a)	2,387,993
	532,814	LIN TV Corp., Class A(a)	3,452,635
	191,629	Lumos Networks Corp.	1,876,048
	411,370	Phoenix New Media Ltd., ADR (Cayman Islands)(a)	1,341,066
	40,479	TripAdvisor, Inc.(a)	1,545,893
			13,141,285
		Consumer, Cyclical - 11.6%
	49,996	Madison Square Garden Co., Class A(a)	2,189,825
	68,077	Marriott Vacations Worldwide Corp.(a)	2,710,145
	56,452	Orchard Supply Hardware Stores Corp., Class A(a) (b)	437,503
			5,337,473
		Consumer, Non-cyclical - 4.2%
	99,868	Furiex Pharmaceuticals, Inc.(a)	1,943,431
		Energy - 11.6%
	601,451	Lone Pine Resources, Inc.(a)	637,538
	46,643	Marathon Petroleum Corp.	2,777,124
	69,373	QEP Resources, Inc.	1,950,769
			5,365,431
		Financial - 10.6%
	110,515	First American Financial Corp.	2,630,257
	30,879	Howard Hughes Corp.(a)	2,275,165
			4,905,422
		Industrial - 26.1%
	74,872	Babcock & Wilcox Co.	1,886,026
	182,239	Exelis, Inc.	2,059,301
	82,761	Fortune Brands Home & Security, Inc.(a)	2,482,002
	49,643	Huntington Ingalls Industries, Inc.	2,027,916
	45,772	Parametric Sound Corp.(a) (b)	216,501
	124,098	Vishay Precision Group, Inc.(a)	1,513,996
	71,244	Xylem, Inc.	1,858,756
			12,044,498
		Utilities - 2.8%
	189,602	Genie Energy Ltd., Class B	1,294,982
		Total Common Stocks - 99.8%
		(Cost $42,072,974)	46,059,664
		Exchange Traded Fund - 0.2%
	1,010	Vanguard Mid-Cap ETF(b)	82,335
		(Cost $81,588)
		Total Long-Term Investments - 100.0%
		(Cost $42,154,562)	46,141,999
		Investments of Collateral for Securities Loaned - 0.5%
	246,186	BNY Mellon Securities Lending Overnight Fund, 0.2159%(c) (d)	246,186
		(Cost $246,186)
		Total Investments - 100.5%
		(Cost $42,400,748)	46,388,185
		Liabilities in excess of Other Assets - (0.5%)	(215,678)
		Net Assets  - 100.0%	$                              46,172,507

ADR - American Depositary Receipt
(a)	Non-income producing security.
(b)	Security, or portion thereof, was on loan at November 30, 2012.
(c)	At November 30, 2012, the total market value of the Fund's securities on loan was $239,958 and the total market value of the collateral held by the Fund was $246,186.
(d)	Interest rate shown reflects yield as of November 30, 2012.
Securities are classified by sectors that represent broad groupings of related industries.
See previously submitted notes to financial statements for the period ended August 31, 2012.

Country Allocation*
United States	97.1%
Cayman Islands	2.9%
* Subject to change daily.  Based on long-term investments.

At November 30, 2012, the cost and related gross unrealized appreciation and depreciation on investments for tax purposes are as follows:

Cost of Investments for Tax Purposes		Gross Tax Unrealized Appreciation		Gross Tax Unrealized Depreciation		Net Tax Unrealized Appreciation on Investments
$	42,408,521	$	7,029,859	$	(3,050,195)	$	3,979,664

Securities listed on an exchange are valued at the last reported sale price on the principal exchange or on the principal over-the-counter market on which such securities are traded, as of the close of regular trading on the New York Stock Exchange (“NYSE”) on the day the securities are being valued or, if there are no sales, at the mean of the most recent bid and asked prices. Equity securities that are traded primarily on the NASDAQ Stock Market are valued at the NASDAQ Official Closing Price. Debt securities are valued at the mean of the last available bid and ask prices for such securities or, if such prices are not available, at prices for securities of comparable maturity, quality and type. If sufficient market activity is limited or does not exist, the pricing providers or broker-dealers may utilize proprietary valuation models which consider market characteristics such as benchmark yield curves, option-adjusted spreads, credit spreads, estimated default rates, coupon rates, anticipated timing of principal repayments, underlying collateral, or other unique security features in order to estimate relevant cash flows, which are then discounted to calculate a security’s fair value. Short-term securities with maturities of 60 days or less at time of purchase are valued at amortized cost, which approximates market value. Money market funds are valued at net asset value.

For those securities where quotations or prices are not available, the valuations are determined in accordance with procedures established in good faith by management and approved by the Board of Trustees of the Trust (“Board of Trustees”). Valuations in accordance with these procedures are intended to reflect each security’s (or asset’s) “fair value.” Fair value is defined as the price that the Fund would receive to sell an investment or pay to transfer a liability in an orderly transaction with an independent buyer in the principal market, or in the absence of a principal market, the most advantageous market for the investment or liability. Each such determination is based on a consideration of all relevant factors, which are likely to vary from one pricing context to another. Examples of such factors may include, but are not limited to: (i) the type of security, (ii) the initial cost of the security, (iii) the existence of any contractual restrictions on the security’s disposition, (iv) the price and extent of public trading in similar securities of the issuer or of comparable companies, (v) quotations or evaluated prices from broker-dealers and/or pricing services, (vi) information obtained from the issuer, analysts, and/or the appropriate stock exchange (for exchange-traded securities), (vii) an analysis of the

company’s financial statements, and (viii) an evaluation of the forces that influence the issuer and the market(s) in which the security is purchased and sold (e.g. the existence of pending merger activity, public offerings or tender offers that might affect the value of the security).

There are three different categories for valuations. Level 1 valuations are those based upon quoted prices in active markets. Level 2 valuations are those based upon quoted prices in inactive markets or based upon significant observable inputs (e.g. yield curves; benchmark interest rates; indices). Level 3 valuations are those based upon unobservable inputs (e.g. discounted cash flow analysis; non-market based methods used to determine fair valuation).

The Fund values Level 1 securities using readily available market quotations in active markets. The Fund values Level 2 fixed income securities using independent pricing providers who employ matrix pricing models utilizing market prices, broker quotes and prices of securities with comparable maturities and qualities. The Fund values Level 2 equity securities using various observable market inputs. The Fund did not hold any Level 3 securities during the three months ended November 30, 2012.

The following table represents the Fund’s investments carried by caption and by level within the fair value hierarchy as of November 30, 2012:

Description	Level 1		Level 2		Level 3		Total
(value in $000s)
Assets:
Common Stocks	$	46,060	$	–	$	–	$	46,060
Exchange Traded Fund		82		-		-		82
Investments of Collateral for Securities Loaned		246		-		-		246
Total	$	46,388	$	–	$	–	$	46,388

During the three months ended November 30, 2012, there were no transfers between levels.

WXSP Wilshire 4500 Completion ETF
Portfolio of Investments
November 30, 2012 (unaudited)
	Number
	of Shares	Description	Value
		Long-Term Investments - 99.7%
		Common Stocks - 99.5%
		Basic Materials - 4.4%
	78	A. Schulman, Inc.	$2,042
	447	AK Steel Holding Corp.(a)	1,793
	222	Albemarle Corp.	13,273
	228	Allied Nevada Gold Corp.(b)	7,421
	62	AMCOL International Corp.	1,872
	83	American Vanguard Corp.	2,761
	145	Ashland, Inc.	10,283
	84	Balchem Corp.	3,003
	251	Boise, Inc.	2,058
	106	Buckeye Technologies, Inc.	2,938
	141	Cabot Corp.	5,320
	102	Carpenter Technology Corp.	4,943
	331	Celanese Corp., Series A	13,584
	211	Chemtura Corp.(b)	4,288
	66	Clearwater Paper Corp.(b)	2,624
	216	Coeur d'Alene Mines Corp.(b)	5,024
	274	Commercial Metals Co.	3,713
	95	Compass Minerals International, Inc.	7,258
	113	Cytec Industries, Inc.	7,756
	35	Deltic Timber Corp.	2,417
	83	Domtar Corp.	6,649
	33	Eastman Chemical Co.	2,008
	80	Georgia Gulf Corp.	3,669
	227	Globe Specialty Metals, Inc.	3,146
	261	Golden Minerals Co.(a) (b)	1,041
	61	Hawkins, Inc.	2,440
	107	HB Fuller Co.	3,515
	882	Hecla Mining Co.	5,116
	149	Horsehead Holding Corp.(b)	1,386
	433	Huntsman Corp.	7,119
	71	Innophos Holdings, Inc.	3,402
	176	Intrepid Potash, Inc.(b)	3,745
	43	Kaiser Aluminum Corp.	2,617
	151	KapStone Paper and Packaging Corp.	3,310
	56	Kraton Performance Polymers, Inc.(b)	1,315
	84	Kronos Worldwide, Inc.(a)	1,353
	51	Materion Corp.	1,046
	272	McEwen Mining, Inc.(b)	1,006
	35	Minerals Technologies, Inc.	2,590
	176	Molycorp, Inc.(a) (b)	1,579
	24	NewMarket Corp.	6,368
	224	Noranda Aluminum Holding Corp.	1,328
	177	Olin Corp.	3,669
	65	OM Group, Inc.(b)	1,298
	561	Paramount Gold and Silver Corp.(a) (b)	1,302
	130	PH Glatfelter Co.	2,209
	230	PolyOne Corp.	4,632
	49	Quaker Chemical Corp.	2,385
	161	Reliance Steel & Aluminum Co.	9,080
	926	Rentech, Inc.(b)	2,611
	169	Rockwood Holdings, Inc.	7,752
	148	Royal Gold, Inc.	11,953
	261	RPM International, Inc.	7,572
	98	Schnitzer Steel Industries, Inc., Class A	2,763
	86	Schweitzer-Mauduit International, Inc.	3,222
	107	Sensient Technologies Corp.	3,873
	360	Southern Copper Corp.	13,068
	467	Steel Dynamics, Inc.	6,034
	31	Stepan Co.	3,099
	108	Valhi, Inc.	1,300
	199	Valspar Corp.	12,493
	165	Wausau Paper Corp.	1,384
	46	Westlake Chemical Corp.	3,331
	129	WR Grace & Co.(b)	8,446
	62	Zep, Inc.	769
			284,364
		Communications - 7.8%
	414	8x8, Inc.(b)	2,732
	121	Acme Packet, Inc.(b)	2,414
	121	ADTRAN, Inc.(a)	2,376
	198	AMC Networks, Inc., Class A(b)	10,446
	80	Ancestry.com, Inc.(b)	2,528
	52	Anixter International, Inc.	3,176
	262	AOL, Inc.	9,830
	280	Arris Group, Inc.(b)	3,912
	257	Aruba Networks, Inc.(b)	5,006
	267	Belo Corp., Class A	1,922
	84	Black Box Corp.	2,071
	142	Blucora, Inc.(b)	2,095
	30	Blue Nile, Inc.(b)	1,180
	67	Broadsoft, Inc.(b)	2,119
	258	Calix, Inc.(b)	1,904
	175	Charter Communications, Inc., Class A(b)	12,399
	263	Ciena Corp.(b)	3,913
	543	Cincinnati Bell, Inc.(b)	2,894
	105	Clear Channel Outdoor Holdings, Inc., Class A	683
	835	Clearwire Corp., Class A(b)	1,937
	146	Cogent Communications Group, Inc.	3,086
	116	comScore, Inc.(b)	1,544
	74	Comtech Telecommunications Corp.	1,891
	87	Consolidated Communications Holdings, Inc.	1,309
	90	Constant Contact, Inc.(b)	1,199
	489	Cumulus Media, Inc., Class A(b)	1,120
	112	DealerTrack Holdings, Inc.(b)	3,012
	152	Dice Holdings, Inc.(b)	1,307
	117	DigitalGlobe, Inc.(b)	2,918
	425	DISH Network Corp., Class A	15,742
	374	Dolan Media Co.(b)	1,283
	285	EarthLink, Inc.	1,881
	207	EchoStar Corp., Class A(b)	6,492
	75	Equinix, Inc.(b)	13,932
	271	EW Scripps Co., Class A(b)	2,759
	1,039	Facebook, Inc., Class A(b)	29,092
	96	FactSet Research Systems, Inc.	8,869
	249	Finisar Corp.(a) (b)	3,379
	65	GeoEye, Inc.(b)	1,986
	307	Harmonic, Inc.(b)	1,406
	383	Harte-Hanks, Inc.	2,026
	78	HealthStream, Inc.(b)	1,850
	58	HomeAway, Inc.(a) (b)	1,188
	181	IAC/InterActiveCorp	8,534
	253	Infinera Corp.(a) (b)	1,412
	111	InterDigital, Inc.	4,738
	234	IntraLinks Holdings, Inc.(b)	1,542
	67	IPG Photonics Corp.(b)	3,960
	164	Ixia(b)	2,463
	119	John Wiley & Sons, Inc., Class A	5,081
	107	Keynote Systems, Inc.	1,456
	202	Lamar Advertising Co., Class A(b)	7,933
	413	Level 3 Communications, Inc.(b)	7,789
	302	Liberty Global, Inc., Class A(b)	16,924
	981	Liberty Interactive Corp., Class A(b)	18,933
	259	Liberty Media Corp. - Liberty Capital, Class A(b)	28,487
	49	Liberty Ventures(b)	2,869
	20	Linkedin Corp., Class A(b)	2,163
	41	Liquidity Services, Inc.(b)	1,683
	73	LogMeIn, Inc.(b)	1,562
	57	Loral Space & Communications, Inc.	4,849
	59	Lumos Networks Corp.	578
	438	Marchex, Inc., Class B	1,822
	73	Meredith Corp.	2,276
	260	Move, Inc.(b)	1,958
	83	NETGEAR, Inc.(b)	2,893
	148	NeuStar, Inc., Class A(b)	5,950
	115	Neutral Tandem, Inc.	309
	476	New York Times Co., Class A(b)	3,860
	255	NIC, Inc.	3,828
	59	NTELOS Holdings Corp.	761
	96	NutriSystem, Inc.	767
	70	OpenTable, Inc.(a) (b)	3,142
	90	Oplink Communications, Inc.(b)	1,395
	382	Orbitz Worldwide, Inc.(b)	882
	94	Plantronics, Inc.	3,161
	590	Polycom, Inc.(b)	6,171
	162	Quinstreet, Inc.(b)	1,013
	176	Rackspace Hosting, Inc.(b)	12,165
	134	Responsys, Inc.(b)	874
	631	RF Micro Devices, Inc.(b)	2,726
	250	Sapient Corp.(b)	2,648
	262	SBA Communications Corp., Class A(b)	18,031
	84	Scholastic Corp.	2,357
	81	Shutterfly, Inc.(b)	2,183
	86	Sinclair Broadcast Group, Inc., Class A	949
	10,193	Sirius XM Radio, Inc.(b)	28,337
	765	Sonus Networks, Inc.(b)	1,278
	75	Sourcefire, Inc.(b)	3,692
	114	Sycamore Networks, Inc.	307
	872	TeleCommunication Systems, Inc., Class A(b)	1,962
	173	Telephone & Data Systems, Inc.	3,981
	1,218	Tellabs, Inc.	4,336
	463	Thomson Reuters Corp. (Canada)	12,751
	342	TIBCO Software, Inc.(b)	8,567
	217	tw telecom, Inc.(b)	5,575
	290	United Online, Inc.	1,659
	34	United States Cellular Corp.(b)	1,185
	258	ValueClick, Inc.(b)	4,868
	83	ViaSat, Inc.(b)	3,173
	545	Virgin Media, Inc.	19,168
	111	VirnetX Holding Corp.(a) (b)	3,826
	110	Vocus, Inc.(b)	1,877
	458	Vonage Holdings Corp.(b)	1,113
	163	Web.com Group, Inc.(b)	2,463
	137	WebMD Health Corp.(b)	1,925
	114	Websense, Inc.(b)	1,591
	178	Windstream Corp.(a)	1,492
			505,011
		Consumer, Cyclical - 15.3%
	249	Accuride Corp.(b)	764
	124	Advance Auto Parts, Inc.	9,071
	119	Aeropostale, Inc.(b)	1,643
	150	Alaska Air Group, Inc.(b)	6,412
	40	Allegiant Travel Co.	2,961
	166	American Axle & Manufacturing Holdings, Inc.(b)	1,736
	512	American Eagle Outfitters, Inc.	10,854
	89	Ameristar Casinos, Inc.	1,771
	153	ANN, Inc.(b)	5,133
	201	Arrow Electronics, Inc.(b)	7,489
	92	Asbury Automotive Group, Inc.(b)	2,777
	244	Ascena Retail Group, Inc.(b)	4,904
	213	Autoliv, Inc.	12,857
	90	Bally Technologies, Inc.(b)	4,063
	97	Barnes & Noble, Inc.(a) (b)	1,392
	123	Beacon Roofing Supply, Inc.(b)	3,793
	115	Beazer Homes USA, Inc.(a) (b)	1,717
	156	bebe Stores, Inc.	587
	5	Biglari Holdings, Inc.(b)	1,817
	65	BJ's Restaurants, Inc.(b)	2,229
	69	Bob Evans Farms, Inc.	2,601
	40	BorgWarner, Inc.(b)	2,652
	192	Boyd Gaming Corp.(a) (b)	1,056
	209	Brinker International, Inc.	6,260
	218	Brown Shoe Co., Inc.	4,153
	191	Brunswick Corp.	4,922
	79	Buckle, Inc.	4,041
	42	Buffalo Wild Wings, Inc.(b)	3,042
	117	Cabela's, Inc.(b)	5,589
	589	Callaway Golf Co.	3,970
	128	Carter's, Inc.(b)	6,789
	104	Casey's General Stores, Inc.	5,138
	114	Cash America International, Inc.	4,245
	84	Cato Corp., Class A	2,441
	53	CEC Entertainment, Inc.	1,659
	134	Cheesecake Factory, Inc.	4,581
	389	Chico's FAS, Inc.	7,255
	57	Children's Place Retail Stores, Inc.(b)	2,771
	56	Choice Hotels International, Inc.	1,820
	38	Churchill Downs, Inc.	2,402
	188	Cinemark Holdings, Inc.	5,114
	64	Coinstar, Inc.(a) (b)	3,011
	35	Columbia Sportswear Co.(a)	2,026
	240	Commercial Vehicle Group, Inc.(b)	1,922
	224	Cooper Tire & Rubber Co.	5,596
	266	Copart, Inc.(b)	8,036
	48	Cracker Barrel Old Country Store, Inc.	2,950
	259	Crocs, Inc.(b)	3,458
	335	Dana Holding Corp.	4,750
	96	Deckers Outdoor Corp.(a) (b)	3,676
	1,982	Delta Air Lines, Inc.(b)	19,820
	167	Dick's Sporting Goods, Inc.	8,769
	100	Dillard's, Inc., Class A	8,891
	43	DineEquity, Inc.(b)	2,711
	134	Dolby Laboratories, Inc., Class A(b)	4,472
	125	Dollar General Corp.(b)	6,250
	136	Domino's Pizza, Inc.	5,658
	140	Dorman Products, Inc.(b)	4,788
	96	DreamWorks Animation SKG, Inc., Class A(a) (b)	1,644
	35	DSW, Inc., Class A	2,381
	40	DTS, Inc.(b)	611
	344	Exide Technologies(b)	994
	85	Express, Inc.(b)	1,269
	136	Ezcorp, Inc., Class A(b)	2,614
	244	Fifth & Pacific Cos., Inc.(b)	2,940
	146	Finish Line, Inc. (The), Class A	3,012
	89	First Cash Financial Services, Inc.(b)	4,300
	345	Foot Locker, Inc.	12,365
	105	Fossil, Inc.(b)	9,076
	140	Fred's, Inc., Class A	1,862
	128	Fuel Systems Solutions, Inc.(b)	1,934
	64	G&K Services, Inc., Class A	2,170
	1,879	General Motors Co.(b)	48,629
	76	Genesco, Inc.(b)	4,205
	74	G-III Apparel Group Ltd.(b)	2,816
	85	GNC Holdings, Inc., Class A	2,986
	53	Group 1 Automotive, Inc.	3,220
	138	Guess?, Inc.	3,570
	173	Hanesbrands, Inc.(b)	6,245
	117	Herman Miller, Inc.	2,471
	85	Hibbett Sports, Inc.(b)	4,568
	91	HNI Corp.	2,710
	91	HSN, Inc.	4,813
	103	Hyatt Hotels Corp., Class A(b)	3,759
	187	Iconix Brand Group, Inc.(b)	3,770
	413	Ingram Micro, Inc., Class A(b)	6,691
	166	Interface, Inc.	2,439
	60	International Speedway Corp., Class A	1,610
	114	Interval Leisure Group, Inc.	2,147
	113	Jack in the Box, Inc.(b)	3,113
	598	JetBlue Airways Corp.(b)	3,074
	172	Jones Group, Inc.	2,023
	67	JOS A Bank Clothiers, Inc.(b)	2,888
	163	KB Home	2,341
	123	Knoll, Inc.	1,766
	182	Krispy Kreme Doughnuts, Inc.(b)	1,656
	1,307	Las Vegas Sands Corp.	60,972
	133	La-Z-Boy, Inc.	1,984
	266	Lear Corp.	11,616
	82	Life Time Fitness, Inc.(b)	3,859
	133	Lions Gate Entertainment Corp. (Canada)(b)	2,179
	68	Lithia Motors, Inc., Class A	2,433
	702	LKQ Corp.(b)	15,388
	80	Lumber Liquidators Holdings, Inc.(b)	4,294
	157	Madison Square Garden Co., Class A(b)	6,877
	94	Maidenform Brands, Inc.(b)	1,727
	71	Marriott Vacations Worldwide Corp.(b)	2,826
	92	MDC Holdings, Inc.	3,242
	99	Men's Wearhouse, Inc.	3,212
	77	Meritage Homes Corp.(b)	2,697
	849	MGM Resorts International(b)	8,617
	103	Mobile Mini, Inc.(b)	2,056
	121	Modine Manufacturing Co.(b)	895
	126	Mohawk Industries, Inc.(b)	10,835
	110	MSC Industrial Direct Co., Inc., Class A	7,993
	39	MWI Veterinary Supply, Inc.(b)	4,354
	110	National CineMedia, Inc.	1,573
	1,184	Navarre Corp.(b)	2,072
	95	Navistar International Corp.(a) (b)	1,939
	123	Nu Skin Enterprises, Inc., Class A	5,584
	14	NVR, Inc.(b)	12,598
	682	Office Depot, Inc.(b)	2,291
	254	OfficeMax, Inc.	2,540
	218	Orient-Express Hotels Ltd., Class A (Bermuda)(b)	2,688
	270	Oshkosh Corp.(b)	7,924
	127	Owens & Minor, Inc.	3,477
	65	Panera Bread Co., Class A(b)	10,432
	67	Pantry, Inc.(b)	860
	68	Papa John's International, Inc.(b)	3,599
	169	Penn National Gaming, Inc.(b)	8,589
	83	Penske Automotive Group, Inc.	2,418
	165	PEP Boys-Manny Moe & Jack	1,744
	99	Perry Ellis International, Inc.(b)	2,146
	247	PetSmart, Inc.	17,453
	334	Pier 1 Imports, Inc.	6,409
	186	Pinnacle Entertainment, Inc.(b)	2,403
	282	Pizza Inn Holdings, Inc.(b)	922
	132	Polaris Industries, Inc.	11,195
	101	Pool Corp.	4,231
	61	Pricesmart, Inc.	4,729
	128	PVH Corp.	14,668
	388	Quiksilver, Inc.(b)	1,552
	198	Regal Entertainment Group, Class A(a)	3,085
	148	Regis Corp.	2,438
	382	Republic Airways Holdings, Inc.(b)	2,219
	1,505	Rite Aid Corp.(b)	1,520
	327	Royal Caribbean Cruises Ltd. (Liberia)	11,527
	179	Ruby Tuesday, Inc.(b)	1,398
	101	Ryman Hospitality Properties, REIT	3,355
	310	Saks, Inc.(a) (b)	3,255
	208	Sally Beauty Holdings, Inc.(b)	5,273
	55	ScanSource, Inc.(b)	1,625
	90	Sears Canada, Inc. (Canada)(a) (b)	1,036
	212	Sears Holdings Corp.(a) (b)	8,906
	190	Select Comfort Corp.(b)	5,088
	177	SHFL entertainment, Inc.(b)	2,436
	154	Signet Jewelers Ltd. (Bermuda)	8,277
	90	SIX Flags Entertainment Corp.	5,533
	139	Skechers U.S.A., Inc., Class A(b)	2,705
	141	SkyWest, Inc.	1,634
	154	Sonic Corp.(b)	1,560
	101	Stage Stores, Inc.	2,613
	429	Standard Pacific Corp.(b)	2,874
	198	Steelcase, Inc., Class A	2,305
	114	Steven Madden Ltd.(b)	5,074
	81	Superior Industries International, Inc.	1,534
	143	Tempur-Pedic International, Inc.(b)	3,811
	122	Tenneco, Inc.(b)	3,913
	89	Tesla Motors, Inc.(a) (b)	3,010
	168	Texas Roadhouse, Inc.	2,790
	159	Thor Industries, Inc.	6,001
	81	Titan International, Inc.(a)	1,647
	77	Titan Machinery, Inc.(b)	1,705
	320	TiVo, Inc.(b)	3,744
	253	Toll Brothers, Inc.(b)	8,056
	106	Toro Co.	4,755
	165	Tractor Supply Co.	14,787
	80	True Religion Apparel, Inc.	2,087
	283	TRW Automotive Holdings Corp.(b)	14,331
	110	Ulta Salon Cosmetics & Fragrance, Inc.	11,031
	158	Under Armour, Inc., Class A(b)	8,189
	32	Unifirst Corp.	2,258
	771	United Continental Holdings, Inc.(b)	15,590
	84	United Stationers, Inc.	2,578
	363	US Airways Group, Inc.(b)	4,679
	30	Vail Resorts, Inc.	1,690
	114	Visteon Corp.(b)	5,711
	44	Vitamin Shoppe(b)	2,607
	228	Wabash National Corp.(b)	1,844
	135	WABCO Holdings, Inc.(b)	8,377
	106	Warnaco Group, Inc.(b)	7,620
	55	Watsco, Inc.	3,943
	1,114	Wendy's Co.	5,191
	107	WESCO International, Inc.(b)	6,918
	398	Wet Seal, Inc., Class A(b)	1,170
	177	Williams-Sonoma, Inc.	8,011
	111	Wolverine World Wide, Inc.	4,804
	127	World Fuel Services Corp.	4,947
	74	Zumiez, Inc.(b)	1,530
			994,624
		Consumer, Non-cyclical - 17.6%
	168	Aaron's, Inc.	4,822
	68	Abaxis, Inc.(b)	2,566
	75	ABIOMED, Inc.(a) (b)	1,001
	95	ABM Industries, Inc.	1,813
	121	Acacia Research Corp.(b)	2,690
	154	ACCO Brands Corp.(b)	1,038
	405	Accuray, Inc.(b)	2,543
	207	Achillion Pharmaceuticals, Inc.(b)	1,613
	96	Acorda Therapeutics, Inc.(b)	2,417
	98	Advisory Board Co.(b)	4,434
	205	Affymax, Inc.(b)	5,010
	25	Air Methods Corp.(b)	2,729
	191	Akorn, Inc.(b)	2,577
	109	Alere, Inc.(b)	2,016
	152	Align Technology, Inc.(b)	4,163
	298	Alkermes PLC (Ireland)(b)	5,754
	117	Alliance Data Systems Corp.(b)	16,671
	176	Alnylam Pharmaceuticals, Inc.(b)	2,987
	97	Amedisys, Inc.(b)	1,016
	86	American Greetings Corp., Class A(a)	1,483
	49	American Public Education, Inc.(a) (b)	1,685
	106	AMERIGROUP Corp.(b)	9,733
	82	Amsurg Corp.(b)	2,298
	55	Andersons, Inc.	2,320
	125	Angiodynamics, Inc.(b)	1,317
	83	Arbitron, Inc.	3,019
	747	Arena Pharmaceuticals, Inc.(a) (b)	6,618
	425	Ariad Pharmaceuticals, Inc.(b)	9,503
	73	ArthroCare Corp.(b)	2,445
	57	Ascent Capital Group, Inc., Class A(b)	3,489
	95	Auxilium Pharmaceuticals, Inc.(b)	1,818
	676	AVANIR Pharmaceuticals, Inc., Class A(a) (b)	1,785
	95	AVEO Pharmaceuticals, Inc.(b)	618
	225	Avis Budget Group, Inc.(b)	4,262
	169	B&G Foods, Inc.	4,931
	236	BioMarin Pharmaceutical, Inc.(b)	11,470
	45	Bio-Rad Laboratories, Inc., Class A(b)	4,702
	98	Bio-Reference Labs, Inc.(a) (b)	2,580
	16	Boston Beer Co., Inc., Class A(a) (b)	1,808
	104	Brink's Co.	2,856
	266	Brookdale Senior Living, Inc.(b)	6,799
	193	Bruker Corp.(b)	2,818
	348	Bunge Ltd. (Bermuda)	25,460
	74	Calavo Growers, Inc.	1,780
	62	Cal-Maine Foods, Inc.	2,850
	44	Capella Education Co.(b)	1,217
	72	Cardtronics, Inc.(b)	1,652
	368	Catamaran Corp. (Canada)(b)	17,918
	247	CBIZ, Inc.(b)	1,435
	122	Centene Corp.(b)	5,357
	144	Cepheid, Inc.(b)	4,668
	162	Charles River Laboratories International, Inc.(b)	6,216
	49	Chemed Corp.	3,336
	347	Church & Dwight Co., Inc.	18,790
	37	Coca-Cola Bottling Co. Consolidated	2,540
	186	Community Health Systems, Inc.(b)	5,480
	186	Conceptus, Inc.(b)	3,871
	80	CONMED Corp.	2,210
	29	Consolidated Graphics, Inc.(b)	987
	291	Convergys Corp.	4,543
	86	Cooper Cos., Inc.	8,165
	183	CoreLogic, Inc.(b)	4,729
	82	Corporate Executive Board Co.	3,510
	245	Corrections Corp. of America	8,306
	51	CoStar Group, Inc.(b)	4,430
	142	Covance, Inc.(b)	8,095
	88	CRA Internationa(b)	1,556
	120	Cubist Pharmaceuticals, Inc.(b)	4,873
	375	Curis, Inc.(a) (b)	1,256
	91	Cyberonics, Inc.(b)	4,705
	124	Deluxe Corp.	3,571
	472	Dendreon Corp.(b)	2,100
	233	Depomed, Inc.(b)	1,403
	91	DeVry, Inc.	2,372
	148	DexCom, Inc.(b)	1,936
	119	Dole Food Co., Inc.(b)	1,366
	481	Dynavax Technologies Corp.(b)	1,366
	440	Education Management Corp.(a) (b)	1,703
	84	Elizabeth Arden, Inc.(b)	3,898
	92	Emergent Biosolutions, Inc.(b)	1,382
	85	Emeritus Corp.(b)	1,923
	255	Endo Health Solutions, Inc.(b)	7,308
	129	Endologix, Inc.(b)	1,891
	96	Ennis, Inc.	1,461
	182	Enzon Pharmaceuticals, Inc.	1,270
	135	Euronet Worldwide, Inc.(b)	3,005
	187	Exact Sciences Corp.(b)	1,834
	312	Exelixis, Inc.(a) (b)	1,526
	98	ExlService Holdings, Inc.(b)	2,631
	67	Fleetcor Technologies, Inc.(b)	3,497
	297	Flowers Foods, Inc.	6,991
	55	Forrester Research, Inc.	1,541
	93	Fresh Del Monte Produce, Inc. (Cayman Islands)	2,413
	120	FTI Consulting, Inc.(b)	3,709
	340	G Willi-Food International Ltd. (Israel)(a) (b)	1,724
	191	Gartner, Inc.(b)	9,145
	111	Genomic Health, Inc.(b)	3,070
	238	Genpact Ltd. (Bermuda)	3,820
	119	Geo Group, Inc.	3,356
	606	Geron Corp.(b)	867
	243	Global Cash Access Holdings, Inc.(b)	1,912
	184	Global Payments, Inc.	8,079
	61	Grand Canyon Education, Inc.(b)	1,444
	84	Greatbatch, Inc.(b)	1,897
	234	Green Mountain Coffee Roasters, Inc.(a) (b)	8,581
	135	H&E Equipment Services, Inc.	2,099
	60	Haemonetics Corp.(b)	4,862
	116	Hain Celestial Group, Inc.(b)	6,991
	326	Halozyme Therapeutics, Inc.(b)	2,031
	98	Hanger, Inc.(b)	2,559
	1,022	Hansen Medical, Inc.(a) (b)	2,228
	89	Harris Teeter Supermarkets, Inc.	3,381
	139	HCA Holdings, Inc.(b)	4,413
	747	Health Management Associates, Inc., Class A(b)	5,939
	211	Health Net, Inc.(b)	4,969
	158	Healthcare Services Group, Inc.	3,716
	221	HealthSouth Corp.(b)	4,860
	111	Heartland Payment Systems, Inc.	3,289
	17	HeartWare International, Inc.(a) (b)	1,399
	67	Helen of Troy Ltd. (Bermuda)(b)	2,068
	194	Henry Schein, Inc.(b)	15,669
	254	Herbalife Ltd. (Cayman Islands)	11,676
	327	Hertz Global Holdings, Inc.(b)	5,114
	146	Hill-Rom Holdings, Inc.	4,082
	985	Hillshire Brands Co.	27,432
	40	Hi-Tech Pharmacal Co., Inc.	1,208
	195	HMS Holdings Corp.(b)	4,518
	492	Hologic, Inc.(b)	9,387
	73	Huron Consulting Group, Inc.(b)	2,405
	73	ICF International, Inc.(b)	1,578
	45	ICU Medical, Inc.(b)	2,650
	89	Idenix Pharmaceuticals, Inc.(a) (b)	456
	77	IDEXX Laboratories, Inc.(b)	7,197
	257	Illumina, Inc.(a) (b)	13,803
	55	Immunogen, Inc.(b)	698
	153	Impax Laboratories, Inc.(b)	3,112
	317	Incyte Corp. Ltd.(a) (b)	5,579
	119	Infinity Pharmaceuticals, Inc.(b)	3,017
	171	Ingredion, Inc.	11,106
	69	Insperity, Inc.	2,084
	95	Insulet Corp.(b)	2,085
	46	Integra LifeSciences Holdings Corp.(b)	1,783
	48	IPC The Hospitalist Co., Inc.(b)	1,812
	239	Isis Pharmaceuticals, Inc.(b)	2,199
	52	J&J Snack Foods Corp.	3,271
	176	Jarden Corp.(b)	9,312
	82	Jazz Pharmaceuticals PLC (Ireland)(b)	4,418
	66	K12, Inc.(a) (b)	1,144
	72	KAR Auction Services, Inc.	1,279
	88	Kelly Services, Inc., Class A	1,202
	78	Kenexa Corp.(b)	3,582
	504	Keryx Biopharmaceuticals, Inc.(a) (b)	1,583
	121	Kforce, Inc.(b)	1,556
	113	Kindred Healthcare, Inc.(b)	1,226
	108	Korn/Ferry International(b)	1,557
	44	Lancaster Colony Corp.	3,333
	32	Landauer, Inc.	1,907
	205	Lender Processing Services, Inc.	5,094
	56	LHC Group, Inc.(b)	1,085
	104	LifePoint Hospitals, Inc.(b)	3,742
	348	Live Nation Entertainment, Inc.(b)	3,055
	135	Luminex Corp.(b)	2,325
	80	Magellan Health Services, Inc.(b)	4,150
	100	MAKO Surgical Corp.(a) (b)	1,380
	192	Manpower, Inc.	7,380
	81	MAP Pharmaceuticals, Inc.(b)	1,291
	128	Masimo Corp.	2,652
	73	Matthews International Corp., Class A	2,208
	80	MAXIMUS, Inc.	5,039
	66	McGrath RentCorp	1,849
	193	Medicines Co.(b)	4,144
	153	Medicis Pharmaceutical Corp., Class A	6,617
	180	Medivation, Inc.(b)	9,387
	103	MEDNAX, Inc.(b)	8,137
	513	Merge Healthcare, Inc.(b)	1,678
	111	Meridian Bioscience, Inc.	2,223
	135	Merit Medical Systems, Inc.(b)	1,874
	105	Molina Healthcare, Inc.(b)	2,923
	145	Momenta Pharmaceuticals, Inc.(b)	1,551
	117	MoneyGram International, Inc.(b)	1,405
	93	Monro Muffler Brake, Inc.	2,983
	195	Monster Worldwide, Inc.(b)	1,061
	58	Morningstar, Inc.	3,702
	68	Multi-Color Corp.	1,529
	216	Myriad Genetics, Inc.(b)	6,204
	39	Nash Finch Co.	823
	73	National Healthcare Corp.	3,265
	121	Natus Medical, Inc.(b)	1,370
	134	Navigant Consulting, Inc.(b)	1,395
	293	Nektar Therapeutics(b)	1,913
	72	Neogen Corp.(b)	3,280
	241	NPS Pharmaceuticals, Inc.(b)	2,465
	155	Nutraceutical International Corp.(b)	2,568
	98	NuVasive, Inc.(b)	1,423
	130	NxStage Medical, Inc.(b)	1,563
	282	Omnicare, Inc.	10,220
	130	On Assignment, Inc.(b)	2,591
	151	Onyx Pharmaceuticals, Inc.(b)	11,396
	445	Opko Health, Inc.(a) (b)	1,949
	102	Optimer Pharmaceuticals, Inc.(b)	1,039
	170	OraSure Technologies, Inc.(b)	1,309
	46	Orthofix International NV (Curacao)(b)	1,714
	133	PAREXEL International Corp.(b)	4,295
	345	PDL BioPharma, Inc.	2,726
	157	Pharmacyclics, Inc.(b)	8,329
	104	PharMerica Corp.(b)	1,502
	127	PHH Corp.(b)	2,783
	261	Pilgrim's Pride Corp.(b)	1,864
	52	Post Holdings, Inc.(b)	1,791
	189	Prestige Brands Holdings, Inc.(b)	4,082
	186	Protalix BioTherapeutics, Inc.(a) (b)	1,032
	128	PSS World Medical, Inc.(b)	3,640
	164	Quad Graphics, Inc.(a)	2,657
	134	Questcor Pharmaceuticals, Inc.(a)	3,477
	123	Quidel Corp.(a) (b)	2,156
	125	Ralcorp Holdings, Inc.(b)	11,143
	242	Raptor Pharmaceutical Corp.(a) (b)	1,280
	136	Regeneron Pharmaceuticals, Inc.(b)	24,011
	146	Rent-A-Center, Inc.	5,075
	361	ResMed, Inc.	14,833
	102	Resources Connection, Inc.	1,184
	168	Rigel Pharmaceuticals, Inc.(b)	1,394
	88	Rollins, Inc.	2,004
	125	Salix Pharmaceuticals Ltd.(b)	5,356
	47	Sanderson Farms, Inc.	2,255
	80	Sarepta Therapeutics, Inc.(a) (b)	2,346
	104	Scotts Miracle-Gro Co., Class A	4,312
	1	Seaboard Corp.(b)	2,360
	264	Seattle Genetics, Inc.(a) (b)	6,682
	290	Select Medical Holdings Corp.	3,202
	421	Service Corp. International	5,865
	116	Sirona Dental Systems, Inc.(b)	7,263
	349	Smithfield Foods, Inc.(b)	7,807
	186	Snyders-Lance, Inc.	4,479
	151	Sotheby's	4,358
	92	Spartan Stores, Inc.	1,384
	111	Spectrum Pharmaceuticals, Inc.(a) (b)	1,314
	65	Staar Surgical Co.(b)	376
	618	Star Scientific, Inc.(a) (b)	1,755
	31	Steiner Leisure Ltd. (Bahamas)(b)	1,426
	119	STERIS Corp.	4,066
	263	Stewart Enterprises, Inc., Class A	2,009
	17	Strayer Education, Inc.	890
	88	Team Health Holdings, Inc.(b)	2,463
	82	Team, Inc.(b)	2,945
	80	Techne Corp.	5,672
	120	Tejon Ranch Co.(b)	3,348
	87	Teleflex, Inc.	6,020
	101	TeleTech Holdings, Inc.(b)	1,719
	152	Theravance, Inc.(b)	3,417
	126	Thoratec Corp.(b)	4,687
	77	TNS, Inc.(b)	1,124
	50	Tootsie Roll Industries, Inc.(a)	1,359
	152	Towers Watson & Co., Class A	8,038
	52	TreeHouse Foods, Inc.(b)	2,727
	82	Triple-S Management Corp., Class B (Puerto Rico)(b)	1,431
	121	TrueBlue, Inc.(b)	1,724
	119	Tupperware Brands Corp.	7,717
	74	United Natural Foods, Inc.(b)	3,831
	276	United Rentals, Inc.(b)	11,462
	103	United Therapeutics Corp.(b)	5,413
	181	Universal American Corp.	1,500
	45	Universal Corp.	2,246
	193	Universal Health Services, Inc., Class B	8,699
	90	Valassis Communications, Inc.(a) (b)	2,338
	142	Vanguard Health Systems, Inc.(b)	1,501
	251	VCA Antech, Inc.(b)	5,216
	119	Vector Group Ltd.	1,921
	304	Verisk Analytics, Inc., Class A(b)	15,151
	400	Vertex Pharmaceuticals, Inc.(b)	15,916
	74	Viad Corp.	1,664
	356	Vical, Inc.(b)	1,118
	207	ViroPharma, Inc.(b)	5,132
	265	Vivus, Inc.(a) (b)	2,994
	99	Volcano Corp.(b)	2,699
	53	WD-40 Co.	2,504
	85	Weight Watchers International, Inc.(a)	4,417
	31	Weis Markets, Inc.	1,212
	84	WellCare Health Plans, Inc.(b)	4,055
	69	West Pharmaceutical Services, Inc.	3,728
	80	WEX, Inc.(b)	5,757
	122	Wright Medical Group, Inc.(a) (b)	2,577
	227	XenoPort, Inc.(b)	1,782
	179	Zipcar, Inc.(a) (b)	1,455
			1,143,361
		Diversified - 0.0%*
	402	Harbinger Group, Inc.(b)	3,437
		Energy - 5.0%
	575	Abraxas Petroleum Corp.(a) (b)	1,276
	294	Alpha Natural Resources, Inc.(b)	2,199
	420	Amyris, Inc.(b)	1,189
	109	Apco Oil and Gas International, Inc. (Cayman Islands)	1,161
	43	Approach Resources, Inc.(b)	1,010
	304	Arch Coal, Inc.(a)	2,043
	128	Atwood Oceanics, Inc.(b)	5,888
	99	Berry Petroleum Co., Class A	3,080
	159	Bill Barrett Corp.(b)	2,763
	558	BPZ Resources, Inc.(b)	1,412
	42	CARBO Ceramics, Inc.(a)	3,216
	88	Carrizo Oil & Gas, Inc.(b)	1,826
	464	Cheniere Energy, Inc.(b)	7,795
	183	Cimarex Energy Co.	11,002
	20	Clayton Williams Energy, Inc.(b)	814
	129	Clean Energy Fuels Corp.(a) (b)	1,711
	123	Cloud Peak Energy, Inc.(b)	2,333
	184	Concho Resources, Inc.(b)	14,768
	51	Contango Oil & Gas Co.	2,090
	133	Continental Resources, Inc.(b)	9,137
	160	Crosstex Energy, Inc.	2,056
	90	CVR Energy, Inc.(b)	4,117
	150	Dresser-Rand Group, Inc.(b)	7,921
	90	Dril-Quip, Inc.(b)	6,333
	227	Endeavour International Corp.(a) (b)	1,530
	142	Energen Corp.	6,323
	223	Energy XXI Bermuda Ltd. (Bermuda)(a)	7,065
	150	EPL Oil & Gas, Inc.(b)	3,148
	302	EXCO Resources, Inc.	2,344
	172	Exterran Holdings, Inc.(b)	3,590
	254	Flotek Industries, Inc.(a) (b)	2,934
	230	Forest Oil Corp.(b)	1,465
	252	FX Energy, Inc.(b)	1,011
	3,227	Geokinetics, Inc.(b)	951
	44	Geospace Technologies Corp.(b)	3,351
	78	Goodrich Petroleum Corp.(b)	703
	296	Green Plains Renewable Energy, Inc.(b)	2,288
	132	Gulfport Energy Corp.(b)	5,021
	154	Harvest Natural Resources, Inc.(b)	1,355
	273	Helix Energy Solutions Group, Inc.(b)	4,780
	590	Hercules Offshore, Inc.(b)	3,044
	361	HollyFrontier Corp.	16,364
	83	Hornbeck Offshore Services, Inc.(b)	2,986
	1,756	Houston American Energy Corp.(b)	983
	387	ION Geophysical Corp.(b)	2,307
	324	Key Energy Services, Inc.(b)	2,168
	234	KiOR, Inc. - CL A(a) (b)	1,509
	575	Kodiak Oil & Gas Corp. (Canada)(b)	4,933
	78	Lufkin Industries, Inc.	4,271
	226	Magnum Hunter Resources Corp.(a) (b)	911
	353	McMoRan Exploration Co.(a) (b)	3,011
	285	Newpark Resources, Inc.(b)	2,223
	127	Northern Oil and Gas, Inc.(b)	1,994
	110	Oasis Petroleum, Inc.(b)	3,324
	197	Oceaneering International, Inc.	10,378
	96	Oil States International, Inc.(b)	6,789
	340	Parker Drilling Co.(b)	1,425
	446	Patterson-UTI Energy, Inc.	7,921
	60	PDC Energy, Inc.(b)	2,153
	269	Petroquest Energy, Inc.(b)	1,434
	187	Pioneer Energy Services Corp.(b)	1,352
	334	Plains Exploration & Production Co.(b)	11,924
	426	Quicksilver Resources, Inc.(a) (b)	1,350
	175	Resolute Energy Corp.(a) (b)	1,494
	124	Rex Energy Corp.(b)	1,631
	132	Rosetta Resources, Inc.(b)	5,932
	262	RPC, Inc.(a)	3,029
	972	SandRidge Energy, Inc.(a) (b)	5,686
	49	SEACOR Holdings, Inc.(b)	4,439
	89	SemGroup Corp., Class A(b)	3,354
	148	SM Energy Co.	7,354
	127	Stone Energy Corp.(b)	2,633
	137	SunCoke Energy, Inc.(b)	2,226
	332	Superior Energy Services, Inc.(b)	6,743
	83	Swift Energy Co.(b)	1,285
	47	Targa Resources Corp.	2,354
	117	Tesco Corp. (Canada)(b)	1,264
	174	TETRA Technologies, Inc.(b)	1,218
	277	Ultra Petroleum Corp. (Canada)(a) (b)	5,554
	89	Unit Corp.(b)	3,998
	256	Vaalco Energy, Inc.(b)	2,168
	1,352	Vantage Drilling Co. (Cayman Islands)(b)	2,434
	75	W&T Offshore, Inc.	1,243
	120	Walter Energy, Inc.	3,624
	177	Western Refining, Inc.	5,142
	270	Whiting Petroleum Corp.(b)	11,324
	587	ZaZa Energy Corp.(a) (b)	1,121
			327,003
		Financial - 23.6%
	141	Acadia Realty Trust, REIT	3,500
	131	Affiliated Managers Group, Inc.(b)	16,882
	89	Air Lease Corp.(b)	1,980
	230	Aircastle Ltd. (Bermuda)	2,615
	94	Alexander & Baldwin, Inc.(b)	2,807
	7	Alexander's, Inc., REIT	3,101
	129	Alexandria Real Estate Equities, Inc., REIT	8,762
	14	Alleghany Corp.(b)	4,914
	81	Allied World Assurance Co. Holdings AG (Switzerland)	6,575
	200	Alterra Capital Holdings Ltd. (Bermuda)	4,680
	108	Altisource Portfolio Solutions SA (Luxembourg)(b)	11,484
	89	American Assets Trust, Inc., REIT	2,423
	127	American Campus Communities, Inc., REIT	5,563
	347	American Capital Agency Corp., REIT	10,948
	969	American Capital Ltd.(b)	11,609
	201	American Equity Investment Life Holding Co.	2,318
	158	American Financial Group, Inc.	6,265
	63	American National Insurance Co.	4,346
	147	American Realty Capital Properties, Inc., REIT(a)	1,911
	467	American Spectrum Realty, Inc.(b)	1,868
	113	Amtrust Financial Services, Inc.	3,257
	2,098	Annaly Capital Management, Inc., REIT	30,883
	487	Anworth Mortgage Asset Corp., REIT	2,873
	388	Apollo Investment Corp.	3,151
	375	Arbor Realty Trust, Inc., REIT	1,991
	228	Arch Capital Group Ltd. (Bermuda)(b)	10,283
	87	Argo Group International Holdings Ltd. (Bermuda)	2,888
	301	ARMOUR Residential REIT, Inc., REIT	2,107
	177	Arthur J Gallagher & Co.	6,464
	300	Ashford Hospitality Trust, Inc., REIT	2,715
	187	Aspen Insurance Holdings Ltd. (Bermuda)	5,853
	386	Associated Banc-Corp.	4,960
	146	Associated Estates Realty Corp., REIT	2,209
	303	Assured Guaranty Ltd. (Bermuda)	4,227
	171	Astoria Financial Corp.	1,595
	187	AV Homes, Inc.(b)	2,474
	225	Axis Capital Holdings Ltd. (Bermuda)	8,093
	186	BancorpSouth, Inc.	2,461
	95	Bank of Hawaii Corp.	4,130
	169	Bank of South Carolina Corp.	1,864
	114	Bank of the Ozarks, Inc.	3,623
	91	Banner Corp.	2,735
	192	BBCN Bancorp, Inc.	2,185
	151	Beneficial Mutual Bancorp, Inc.(b)	1,415
	232	BGC Partners, Inc., Class A	835
	264	BioMed Realty Trust, Inc., REIT	5,087
	41	BOK Financial Corp.	2,257
	203	Boston Private Financial Holdings, Inc.	1,874
	346	Brandywine Realty Trust, REIT	4,128
	167	BRE Properties, Inc., REIT	8,125
	102	Bridge Bancorp, Inc.	2,045
	446	Brookfield Office Properties, Inc. (Canada)(a)	7,243
	195	Brookline Bancorp, Inc.	1,650
	270	Brown & Brown, Inc.	7,247
	172	Camden Property Trust, REIT	11,300
	184	Campus Crest Communities, Inc., REIT	2,105
	172	Capital City Bank Group, Inc.(b)	1,864
	664	Capital Trust, Inc., Class A, REIT(b)	2,377
	720	CapitalSource, Inc.	5,796
	270	Capitol Federal Financial, Inc.	3,210
	277	Capstead Mortgage Corp., REIT	3,363
	235	Cathay General Bancorp	4,206
	362	CBL & Associates Properties, Inc., REIT	8,149
	406	Cedar Realty Trust, Inc., REIT	2,200
	174	Central Pacific Financial Corp.(b)	2,570
	89	Chemical Financial Corp.	1,938
	248	Chesapeake Lodging Trust, REIT	4,680
	2,453	Chimera Investment Corp., REIT	6,721
	449	CIT Group, Inc.(b)	16,635
	304	Citizens Republic Bancorp, Inc.(b)	5,706
	62	City Holding Co.	2,083
	84	City National Corp.	4,090
	48	CNA Financial Corp.	1,355
	616	CNO Financial Group, Inc.	5,606
	59	Cohen & Steers, Inc.	1,686
	205	Colonial Properties Trust, REIT	4,182
	152	Colony Financial, Inc., REIT	3,043
	89	Columbia Banking System, Inc.	1,536
	176	Commerce Bancshares, Inc.	6,297
	221	Commonwealth REIT, REIT	3,344
	99	Community Bank System, Inc.	2,661
	73	Community Trust Bancorp, Inc.	2,390
	84	Coresite Realty Corp., REIT	2,150
	253	Corporate Office Properties Trust, REIT	6,244
	345	Cousins Properties, Inc., REIT	2,832
	34	Credit Acceptance Corp.(b)	3,137
	238	CreXus Investment Corp., REIT	2,973
	309	CubeSmart, REIT	4,264
	113	Cullen/Frost Bankers, Inc.	6,171
	288	CVB Financial Corp.	2,926
	270	CYS Investments, Inc., REIT	3,453
	609	DCT Industrial Trust, Inc., REIT	3,806
	493	DDR Corp., REIT	7,548
	104	DFC Global Corp.(b)	1,815
	388	DiamondRock Hospitality Co., REIT	3,391
	212	Digital Realty Trust, Inc., REIT	13,682
	144	Dime Community Bancshares, Inc.	2,009
	294	Douglas Emmett, Inc., REIT	6,677
	146	Duff & Phelps Corp., Class A	1,772
	608	Duke Realty Corp., REIT	8,208
	168	DuPont Fabros Technology, Inc., REIT	3,879
	230	Dynex Capital, Inc., REIT	2,254
	397	East West Bancorp, Inc.	8,397
	77	EastGroup Properties, Inc., REIT	4,026
	219	Eaton Vance Corp.	6,982
	293	Education Realty Trust, Inc., REIT	3,021
	145	Employers Holdings, Inc.	2,768
	94	Encore Capital Group, Inc.(b)	2,498
	119	Endurance Specialty Holdings Ltd. (Bermuda)	4,784
	26	Enstar Group Ltd. (Bermuda)(b)	2,663
	115	Enterprise Financial Services Corp.	1,520
	81	Epoch Holding Corp.	1,775
	88	EPR Properties, REIT	3,991
	105	Equity Lifestyle Properties, Inc., REIT	6,892
	80	Equity One, Inc., REIT	1,654
	64	Erie Indemnity Co., Class A	4,562
	81	Essex Property Trust, Inc., REIT	11,380
	57	Evercore Partners, Inc., Class A	1,566
	117	Everest Re Group Ltd. (Bermuda)	12,691
	249	Extra Space Storage, Inc., REIT	8,752
	5,261	Fannie Mae(b)	1,436
	50	FBL Financial Group, Inc., Class A	1,662
	111	Federal Realty Investment Trust, REIT	11,548
	439	FelCor Lodging Trust, Inc., REIT(b)	1,844
	566	Fidelity National Financial, Inc., Class A	13,703
	193	Fifth Street Finance Corp.	2,081
	88	Financial Engines, Inc.(b)	2,307
	247	First American Financial Corp.	5,879
	18	First Citizens BancShares, Inc., Class A	2,970
	801	First Commonwealth Financial Corp.	5,134
	147	First Financial Bancorp	2,136
	82	First Financial Bankshares, Inc.(a)	3,191
	279	First Industrial Realty Trust, Inc., REIT(b)	3,683
	446	First Midwest Bancorp, Inc.	5,575
	983	First Niagara Financial Group, Inc.	7,412
	140	First Potomac Realty Trust, REIT	1,642
	192	FirstMerit Corp.	2,703
	334	FNB Corp.	3,607
	131	FNB United Corp.(a) (b)	1,484
	366	Forest City Enterprises, Inc., Class A(b)	5,508
	297	Forestar Group, Inc.(b)	4,390
	187	Franklin Street Properties Corp., REIT	2,160
	452	Fulton Financial Corp.	4,398
	205	FXCM, Inc.	2,052
	2,056	General Growth Properties, Inc., REIT	39,825
	72	Getty Realty Corp., REIT(a)	1,212
	183	Glacier Bancorp, Inc.	2,659
	306	Glimcher Realty Trust, REIT	3,280
	99	Government Properties Income Trust, REIT(a)	2,282
	575	Gramercy Capital Corp., REIT(b)	1,679
	54	Greenhill & Co., Inc.	2,566
	96	Greenlight Capital RE Ltd., Class A (Cayman Islands)(b)	2,220
	162	GSV Capital Corp.(a) (b)	1,296
	687	Hampton Roads Bankshares, Inc.(b)	811
	180	Hancock Holding Co.	5,656
	119	Hanover Insurance Group, Inc.	4,349
	122	Harleysville Savings Financial Corp.	2,309
	135	Hatteras Financial Corp., REIT	3,599
	252	HCC Insurance Holdings, Inc.	9,294
	272	Healthcare Realty Trust, Inc., REIT	6,487
	996	Hersha Hospitality Trust, REIT	4,671
	127	HFF, Inc., Class A	1,883
	101	Higher One Holdings, Inc.(a) (b)	893
	156	Highwoods Properties, Inc., REIT	5,029
	164	Hilltop Holdings, Inc.(b)	2,344
	104	Home Bancshares, Inc.	3,449
	79	Home Properties, Inc., REIT	4,652
	135	Horace Mann Educators Corp.	2,581
	171	Horizon Bancorp/IN	3,258
	290	Hospitality Properties Trust, REIT	6,583
	57	Howard Hughes Corp.(b)	4,200
	211	Hudson Pacific Properties, Inc., REIT	4,087
	68	Iberiabank Corp.	3,315
	1,137	Independent Bank Corp.(b)	4,377
	79	Independent Bank Corp.	2,267
	48	Infinity Property & Casualty Corp.	2,627
	290	Inland Real Estate Corp., REIT	2,311
	179	Interactive Brokers Group, Inc., Class A	2,737
	150	International Bancshares Corp.	2,715
	77	International FCStone, Inc.(b)	1,334
	164	Invesco Mortgage Capital, Inc., REIT	3,472
	329	Investors Bancorp, Inc.	5,632
	357	Investors Real Estate Trust, REIT	3,031
	386	iStar Financial, Inc., REIT(b)	2,953
	254	Janus Capital Group, Inc.	2,083
	383	Jefferies Group, Inc.	6,496
	88	Jones Lang LaSalle, Inc.	7,217
	118	KBW, Inc.	2,035
	128	Kemper Corp.	3,790
	117	Kilroy Realty Corp., REIT	5,277
	598	Ladenburg Thalmann Financial Services, Inc.(b)	730
	195	LaSalle Hotel Properties, REIT	4,701
	309	Lexington Realty Trust, REIT	2,963
	238	Liberty Property Trust, REIT	8,290
	78	LTC Properties, Inc., REIT	2,552
	311	Macerich Co., REIT	17,571
	181	Mack-Cali Realty Corp., REIT	4,576
	224	Maiden Holdings Ltd. (Bermuda)	2,012
	113	Main Street Capital Corp.(a)	3,463
	20	Markel Corp.(b)	9,580
	103	MarketAxess Holdings, Inc.	3,179
	122	MB Financial, Inc.	2,372
	260	MBIA, Inc.(a) (b)	2,324
	691	MCG Capital Corp.	3,082
	232	Meadowbrook Insurance Group, Inc.	1,290
	241	Medical Properties Trust, Inc., REIT	2,812
	74	Merchants Bancshares, Inc.	2,055
	54	Mercury General Corp.	2,247
	496	MFA Financial, Inc., REIT	4,171
	101	MID-America Apartment Communities, Inc., REIT	6,294
	192	Monmouth Real Estate Investment Corp., Class A, REIT	2,016
	123	Montpelier RE Holdings Ltd. (Bermuda)	2,692
	732	MPG Office Trust, Inc., REIT(b)	2,079
	142	National Financial Partners Corp.(b)	2,359
	63	National Health Investors, Inc., REIT	3,496
	355	National Penn Bancshares, Inc.	3,362
	162	National Retail Properties, Inc., REIT	4,977
	46	Navigators Group, Inc.(b)	2,411
	105	NBT Bancorp, Inc.	2,076
	122	Nelnet, Inc., Class A	3,488
	840	New York Community Bancorp, Inc.	10,928
	216	New York Mortgage Trust, Inc., REIT(a)	1,449
	516	Newcastle Investment Corp., REIT	4,329
	157	NewStar Financial, Inc.(b)	1,980
	571	NorthStar Realty Finance Corp., REIT	3,843
	220	Northwest Bancshares, Inc.	2,625
	193	Ocean Shore Holding Co.(a)	2,582
	196	Ocwen Financial Corp.(b)	7,029
	249	Old National Bancorp	2,923
	479	Old Republic International Corp.	5,025
	151	Omega Healthcare Investors, Inc., REIT	3,461
	89	One Liberty Properties, Inc., REIT	1,736
	93	Oppenheimer Holdings, Inc.	1,498
	349	Oriental Financial Group, Inc. (Puerto Rico)	4,202
	66	Pacific Capital Bancorp(b)	3,035
	103	PacWest Bancorp	2,566
	46	Park National Corp.(a)	2,902
	316	Parkway Properties, Inc., REIT	4,247
	144	PartnerRe Ltd. (Bermuda)	11,935
	137	Pebblebrook Hotel Trust, REIT	2,856
	207	Pennsylvania Real Estate Investment Trust, REIT	3,449
	106	PennyMac Mortgage Investment Trust, REIT	2,613
	343	Piedmont Office Realty Trust, Inc., Class A, REIT	6,054
	122	Pinnacle Financial Partners, Inc.(b)	2,322
	58	Piper Jaffray Cos.(b)	1,645
	112	Platinum Underwriters Holdings Ltd. (Bermuda)	4,986
	208	PMC Commercial Trust, REIT	1,462
	352	Popular, Inc. (Puerto Rico)(b)	6,959
	36	Portfolio Recovery Associates, Inc.(b)	3,557
	149	Post Properties, Inc., REIT	7,320
	146	Potlatch Corp., REIT	5,687
	174	Power REIT, REIT(a)	1,383
	317	Preferred Apartment Communities, Inc., Class A, REIT	2,476
	84	Primerica, Inc.	2,405
	283	PrivateBancorp, Inc.	4,638
	73	ProAssurance Corp.	6,620
	384	ProLogis, Inc., REIT	13,033
	97	Prosperity Bancshares, Inc.	3,990
	201	Protective Life Corp.	5,457
	177	Provident Financial Services, Inc.	2,565
	47	PS Business Parks, Inc., REIT	3,031
	605	Radian Group, Inc.	2,650
	338	Rait Financial Trust, REIT	1,876
	141	Ramco-Gershenson Properties Trust, REIT	1,887
	226	Raymond James Financial, Inc.	8,531
	190	Rayonier, Inc., REIT	9,470
	194	Realty Income Corp., REIT(a)	7,892
	186	Redwood Trust, Inc., REIT	3,110
	204	Regency Centers Corp., REIT	9,557
	152	Reinsurance Group of America, Inc.	7,782
	106	RenaissanceRe Holdings Ltd. (Bermuda)	8,773
	280	Resource Capital Corp., REIT	1,658
	48	RLI Corp.	3,093
	135	RLJ Lodging Trust, REIT	2,510
	41	Rouse Properties, Inc., REIT(a)	615
	108	S&T Bancorp, Inc.	1,833
	445	Sabra Health Care REIT, Inc., REIT	9,656
	49	Safety Insurance Group, Inc.	2,200
	130	Sandy Spring Bancorp, Inc.	2,449
	67	Saul Centers, Inc., REIT	2,854
	56	SCBT Financial Corp.	2,170
	365	SEI Investments Co.	8,034
	147	Selective Insurance Group, Inc.	2,746
	279	Senior Housing Properties Trust, REIT	6,236
	377	Shore Bancshares, Inc.	2,028
	81	Signature Bank(b)	5,683
	71	Simmons First National Corp., Class A	1,690
	187	SL Green Realty Corp., REIT	14,096
	83	Sovran Self Storage, Inc., REIT	5,129
	239	St Joe Co.(a) (b)	5,110
	123	StanCorp Financial Group, Inc.	4,183
	238	Starwood Property Trust, Inc., REIT	5,441
	120	State Bank Financial Corp.	1,889
	79	Steel Excel, Inc.(b)	1,959
	188	Sterling Financial Corp.	3,867
	108	Stifel Financial Corp.(b)	3,285
	496	Strategic Hotels & Resorts, Inc., REIT(b)	3,090
	246	Suffolk Bancorp(b)	3,068
	164	Summit Hotel Properties, Inc., REIT	1,440
	95	Sun Communities, Inc., REIT	3,667
	293	Sunstone Hotel Investors, Inc., REIT(b)	3,024
	688	Susquehanna Bancshares, Inc.	7,073
	90	SVB Financial Group(b)	4,970
	89	SY Bancorp, Inc.	1,970
	105	Symetra Financial Corp.	1,284
	1,317	Synovus Financial Corp.	3,121
	242	Tanger Factory Outlet Centers, REIT	7,957
	120	Taubman Centers, Inc., REIT	9,296
	356	TCF Financial Corp.	4,229
	581	TD Ameritrade Holding Corp.	9,412
	160	Terreno Realty Corp., REIT	2,392
	122	Texas Capital Bancshares, Inc.(b)	5,495
	98	TFS Financial Corp.(b)	806
	426	Thomas Properties Group, Inc.	2,322
	49	Tompkins Financial Corp.	1,910
	123	Tower Group, Inc.	2,079
	131	TowneBank(a)	1,979
	300	TrustCo Bank Corp. NY	1,581
	129	Trustmark Corp.	2,866
	523	UDR, Inc., REIT	12,034
	78	UMB Financial Corp.	3,306
	204	Umpqua Holdings Corp.	2,379
	102	Union Bankshares, Inc.	2,019
	196	Union First Market Bankshares Corp.	2,997
	232	United Bancorp, Inc.	1,503
	108	United Bankshares, Inc.	2,668
	111	United Community Banks, Inc.(b)	963
	86	United Fire Group, Inc.	1,783
	60	Universal Health Realty Income Trust, REIT	2,924
	106	Urstadt Biddle Properties, Inc., Class A, REIT	1,992
	269	US Global Investors, Inc.	1,490
	229	Validus Holdings Ltd. (Bermuda)	8,131
	386	Valley National Bancorp	3,682
	169	Ventas, Inc., REIT	10,757
	21	Virtus Investment Partners, Inc.(b)	2,412
	196	Waddell & Reed Financial, Inc., Class A	6,368
	94	Walter Investment Management Corp., REIT(b)	3,974
	283	Washington Federal, Inc.	4,548
	133	Washington Real Estate Investment Trust, REIT	3,447
	220	Webster Financial Corp.	4,580
	300	Weingarten Realty Investors, REIT	8,154
	105	WesBanco, Inc.	2,217
	67	Westamerica Bancorporation	2,852
	266	Western Alliance Bancorp(b)	2,703
	17	White Mountains Insurance Group Ltd. (Bermuda)	8,759
	179	Whitestone REIT, Class B, REIT	2,515
	435	Winthrop Realty Trust, REIT	4,876
	64	Wintrust Financial Corp.	2,355
	42	World Acceptance Corp.(a) (b)	3,066
	252	WR Berkley Corp.	10,017
	605	ZipRealty, Inc.(b)	1,863
			1,533,342
		Industrial - 14.3%
	96	AAR Corp.	1,475
	171	Actuant Corp., Class A	4,920
	64	Acuity Brands, Inc.	4,234
	168	Advanced Energy Industries, Inc.(b)	2,149
	322	AECOM Technology Corp.(b)	7,274
	102	Aegion Corp.(b)	2,103
	64	Aerovironment, Inc.(b)	1,306
	250	AGCO Corp.(b)	11,538
	242	Air T, Inc.	2,026
	358	Air Transport Services Group, Inc.(b)	1,357
	91	Albany International Corp., Class A	1,957
	88	Alliant Techsystems, Inc.	5,280
	20	Amerco, Inc.	2,400
	69	American Railcar Industries, Inc.(b)	2,120
	27	American Science & Engineering, Inc.	1,725
	529	AMETEK, Inc.	19,748
	42	Analogic Corp.	3,094
	85	AO Smith Corp.	5,351
	84	Applied Industrial Technologies, Inc.	3,363
	138	Aptargroup, Inc.	6,578
	57	Armstrong World Industries, Inc.	2,879
	71	Astec Industries, Inc.	2,055
	64	Atlas Air Worldwide Holdings, Inc.(b)	2,770
	307	Avnet, Inc.(b)	8,992
	97	AVX Corp.	989
	94	AZZ, Inc.	3,583
	207	B/E Aerospace, Inc.(b)	9,804
	249	Babcock & Wilcox Co.	6,272
	49	Badger Meter, Inc.	2,208
	125	Barnes Group, Inc.	2,636
	105	Belden, Inc.	3,956
	118	Benchmark Electronics, Inc.(b)	1,834
	159	Blount International, Inc.(b)	2,269
	90	Brady Corp., Class A	2,875
	101	Briggs & Stratton Corp.	2,049
	57	Bristow Group, Inc.	2,970
	150	Calgon Carbon Corp.(b)	2,031
	1,157	Capstone Turbine Corp.(b)	1,117
	105	Carlisle Cos., Inc.	5,950
	138	Celadon Group	2,385
	87	Chart Industries, Inc.(b)	5,262
	57	CIRCOR International, Inc.	2,060
	103	CLARCOR, Inc.	4,777
	80	Clean Harbors, Inc.(b)	4,582
	103	Cognex Corp.	3,689
	68	Coherent, Inc.(b)	3,145
	135	Colfax Corp.(b)	5,264
	104	Con-way, Inc.	2,921
	285	Covanta Holding Corp.	5,381
	113	Crane Co.	4,796
	348	Crown Holdings, Inc.(b)	12,998
	217	CTS Corp.	1,923
	48	Cubic Corp.	2,350
	84	Curtiss-Wright Corp.	2,665
	71	Cymer, Inc.(b)	6,227
	209	Daktronics, Inc.	2,186
	200	Darling International, Inc.(b)	3,374
	254	Donaldson Co., Inc.	8,529
	79	Drew Industries, Inc.	2,564
	95	Ducommun, Inc.(b)	1,489
	148	Dycom Industries, Inc.(b)	2,658
	384	Eagle Bulk Shipping, Inc. (Marshall Islands)(b)	856
	103	Eagle Materials, Inc.	5,482
	150	EMCOR Group, Inc.	4,927
	82	Encore Wire Corp.	2,570
	165	Energizer Holdings, Inc.	13,160
	113	EnerSys, Inc.(b)	3,937
	57	EnPro Industries, Inc.(b)	2,239
	57	ESCO Technologies, Inc.	2,092
	70	Esterline Technologies Corp.(b)	4,280
	689	Exelis, Inc.	7,786
	58	Exponent, Inc.(b)	3,100
	66	FARO Technologies, Inc.(b)	2,328
	104	FEI Co.	5,723
	414	Fortune Brands Home & Security, Inc.(b)	12,416
	72	Forward Air Corp.	2,394
	60	Franklin Electric Co., Inc.	3,574
	118	Gardner Denver, Inc.	8,242
	82	GATX Corp.	3,455
	142	General Cable Corp.(b)	4,077
	120	Genesee & Wyoming, Inc., Class A(b)	8,754
	371	Gentex Corp.	6,585
	82	Gorman-Rupp Co.	2,282
	124	Graco, Inc.	6,127
	317	GrafTech International Ltd.(b)	3,075
	81	Granite Construction, Inc.	2,479
	197	Graphic Packaging Holding Co.(b)	1,279
	58	Greenbrier Cos., Inc.(b)	1,108
	72	Greif, Inc., Class A	2,954
	379	Griffon Corp.	3,934
	79	Gulfmark Offshore, Inc., Class A(b)	2,476
	170	Harsco Corp.	3,426
	34	Haynes International, Inc.	1,582
	107	Heartland Express, Inc.	1,469
	102	HEICO Corp., Class A	3,427
	219	Hexcel Corp.(b)	5,661
	144	Hillenbrand, Inc.	3,047
	84	Hub Group, Inc., Class A(b)	2,719
	75	Hubbell, Inc., Class B	6,319
	117	Huntington Ingalls Industries	4,779
	18	Hyster-Yale Materials	747
	171	IDEX Corp.	7,686
	146	II-VI, Inc.(b)	2,498
	103	iRobot Corp.(b)	1,941
	108	Itron, Inc.(b)	4,730
	174	ITT Corp.	3,892
	216	JB Hunt Transport Services, Inc.	12,841
	87	John Bean Technologies Corp.	1,417
	80	Kaman Corp.	2,899
	275	Kansas City Southern	21,491
	80	Kaydon Corp.	1,842
	311	KBR, Inc.	8,646
	173	Kennametal, Inc.	6,595
	106	Kirby Corp.(b)	6,135
	119	Knight Transportation, Inc.	1,789
	58	Koppers Holdings, Inc.	2,053
	238	Kratos Defense & Security Solutions, Inc.(b)	1,059
	104	Landstar System, Inc.	5,259
	64	Layne Christensen Co.(b)	1,471
	86	Lennox International, Inc.	4,523
	1,718	Lime Energy Co.(b)	893
	194	Lincoln Electric Holdings, Inc.	9,217
	43	Lindsay Corp.	3,401
	55	Littelfuse, Inc.	3,174
	314	Louisiana-Pacific Corp.(b)	5,470
	58	LSB Industries, Inc.(b)	1,939
	346	Manitowoc Co., Inc.	5,190
	91	Marten Transport	1,722
	97	Martin Marietta Materials, Inc.	8,730
	150	MasTec, Inc.(b)	3,426
	94	Matson, Inc.	2,162
	499	McDermott International, Inc. (Panama)(b)	5,254
	61	Mettler-Toledo International, Inc.(b)	11,412
	98	Michael Baker Corp.	1,906
	52	Middleby Corp.(b)	6,624
	79	Mine Safety Appliances Co.	3,056
	69	Moog, Inc., Class A(b)	2,536
	92	Mueller Industries, Inc.	4,394
	545	Mueller Water Products, Inc., Class A	3,041
	94	MYR Group, Inc.(b)	2,015
	18	NACCO Industries, Inc., Class A	960
	190	National Instruments Corp.	4,621
	14	National Presto Industries, Inc.	1,075
	122	Newport Corp.(b)	1,554
	114	Nordson Corp.	6,976
	168	Old Dominion Freight Line, Inc.(b)	5,618
	136	Orbital Sciences Corp.(b)	1,780
	54	OSI Systems, Inc.(b)	3,309
	239	Owens Corning(b)	8,265
	303	Packaging Corp. of America	11,041
	64	Park Electrochemical Corp.	1,560
	210	Pentair Ltd. (Switzerland)	10,183
	78	Plexus Corp.(b)	1,806
	128	Polypore International, Inc.(a) (b)	5,254
	450	Power-One, Inc.(b)	1,867
	202	Quality Distribution, Inc.(b)	1,351
	106	Quanex Building Products Corp.	2,218
	136	Raven Industries, Inc.	3,535
	80	RBC Bearings, Inc.(b)	3,727
	66	Regal-Beloit Corp.	4,604
	129	Robbins & Myers, Inc.	7,663
	119	Rock-Tenn Co., Class A	7,740
	98	Rofin-Sinar Technologies, Inc.(b)	2,073
	52	Rogers Corp.(b)	2,310
	80	RTI International Metals, Inc.(b)	1,984
	176	Sanmina Corp.(b)	1,658
	55	Sauer-Danfoss, Inc.	2,889
	202	Shaw Group, Inc.(b)	9,076
	139	Ship Finance International Ltd. (Bermuda)	2,250
	118	Silgan Holdings, Inc.	5,249
	92	Simpson Manufacturing Co., Inc.	3,009
	208	Smith & Wesson Holding Corp.(b)	2,205
	196	Sonoco Products Co.	5,894
	188	Spirit Aerosystems Holdings, Inc., Class A(b)	2,961
	118	SPX Corp.	8,038
	302	Stoneridge, Inc.(b)	1,489
	47	Sturm Ruger & Co., Inc.(a)	2,754
	84	Sun Hydraulics Corp.	2,196
	283	Swift Transportation Co.(b)	2,394
	67	TAL International Group, Inc.	2,281
	248	TASER International, Inc.(b)	2,048
	83	Tech Data Corp.(b)	3,666
	87	Teekay Corp. (Marshall Islands)	2,803
	69	Teledyne Technologies, Inc.(b)	4,347
	70	Tennant Co.	2,670
	259	Terex Corp.(b)	6,265
	127	Tetra Tech, Inc.(b)	3,272
	52	Texas Industries, Inc.(a) (b)	2,414
	61	Textainer Group Holdings Ltd. (Bermuda)	1,841
	117	Tidewater, Inc.	5,249
	218	Timken Co.	9,821
	106	TransDigm Group, Inc.	14,418
	100	Tredegar Corp.	1,885
	112	Trex Co., Inc.(b)	4,548
	89	Trimas Corp.(b)	2,305
	243	Trimble Navigation Ltd.(b)	13,521
	191	Trinity Industries, Inc.	6,068
	78	Triumph Group, Inc.	5,118
	252	TTM Technologies, Inc.(b)	2,273
	233	Tutor Perini Corp.(b)	2,996
	72	Twin Disc, Inc.	1,228
	132	Universal Display Corp.(a) (b)	3,152
	48	Universal Forest Products, Inc.	1,808
	190	URS Corp.	7,159
	244	USG Corp.(a) (b)	6,547
	232	UTi Worldwide, Inc. (British Virgin Islands)	3,276
	51	Valmont Industries, Inc.	7,123
	377	Vishay Intertechnology, Inc.(b)	3,657
	107	Wabtec Corp.	9,054
	220	Waste Connections, Inc.	7,242
	62	Watts Water Technologies, Inc., Class A	2,535
	100	Werner Enterprises, Inc.	2,169
	149	Woodward, Inc.	5,449
	150	Worthington Industries, Inc.	3,534
	121	XPO Logistics, Inc.(a) (b)	1,920
	258	YRC Worldwide, Inc.(b)	1,811
	127	Zebra Technologies Corp., Class A(b)	4,947
			927,214
		Technology - 7.6%
	94	3D Systems Corp.(a) (b)	4,203
	102	ACI Worldwide, Inc.(b)	4,397
	1,040	Activision Blizzard, Inc.	11,898
	181	Acxiom Corp.(b)	3,202
	120	Advent Software, Inc.(b)	2,671
	407	Allscripts Healthcare Solutions, Inc.(b)	4,526
	288	Amkor Technology, Inc.(a) (b)	1,224
	207	ANSYS, Inc.(b)	13,730
	295	Applied Micro Circuits Corp.(b)	2,015
	219	Aspen Technology, Inc.(b)	5,692
	70	athenahealth, Inc.(b)	4,458
	632	Atmel Corp.(b)	3,533
	106	ATMI, Inc.(b)	2,112
	117	Avid Technology, Inc.(b)	764
	438	AXT, Inc.(b)	1,235
	76	Blackbaud, Inc.	1,698
	107	Bottomline Technologies, Inc.(b)	2,623
	314	Broadridge Financial Solutions, Inc.	7,414
	1,198	Brocade Communications Systems, Inc.(b)	6,805
	172	Brooks Automation, Inc.	1,324
	54	Cabot Microelectronics Corp.	1,761
	65	CACI International, Inc., Class A(b)	3,325
	587	Cadence Design Systems, Inc.(b)	7,473
	138	Cavium, Inc.(b)	4,862
	57	Ceva, Inc.(b)	861
	114	Cirrus Logic, Inc.(b)	3,570
	97	CommVault Systems, Inc.(b)	6,437
	45	Computer Programs & Systems, Inc.	2,253
	655	Compuware Corp.(b)	6,124
	85	Concur Technologies, Inc.(b)	5,585
	233	Cree, Inc.(a) (b)	7,528
	104	CSG Systems International, Inc.(b)	1,932
	320	Cypress Semiconductor Corp.	3,248
	163	Diebold, Inc.	4,875
	89	Digital River, Inc.(b)	1,300
	90	Diodes, Inc.(b)	1,363
	92	DST Systems, Inc.	5,303
	242	Dynamics Research Corp.(b)	1,278
	114	Ebix, Inc.(a)	1,916
	233	Electronics for Imaging, Inc.(b)	4,278
	236	Emulex Corp.(b)	1,735
	428	Entegris, Inc.(b)	3,835
	315	Entropic Communications, Inc.(b)	1,635
	85	Fair Isaac Corp.	3,640
	297	Fairchild Semiconductor International, Inc.(b)	3,962
	264	FormFactor, Inc.(b)	1,170
	248	Fortinet, Inc.(b)	4,955
	48	Fusion-IO, Inc.(a) (b)	1,120
	436	GT Advanced Technologies, Inc.(a) (b)	1,469
	77	Hittite Microwave Corp.(b)	4,672
	54	iGATE Corp.(b)	809
	94	IHS, Inc., Class A(b)	8,661
	210	Informatica Corp.(b)	5,643
	118	Insight Enterprises, Inc.(b)	1,999
	449	Integrated Device Technology, Inc.(b)	2,815
	72	Interactive Intelligence Group, Inc.(b)	2,313
	148	International Rectifier Corp.(b)	2,528
	268	Intersil Corp., Class A	1,911
	110	j2 Global, Inc.	3,326
	181	Jack Henry & Associates, Inc.	7,035
	100	JDA Software Group, Inc.(b)	4,466
	225	Kulicke & Soffa Industries, Inc.(b)	2,572
	251	Lam Research Corp.(b)	8,815
	588	Lattice Semiconductor Corp.(b)	2,328
	234	LivePerson, Inc.(b)	3,086
	66	Manhattan Associates, Inc.(b)	3,778
	250	Marvell Technology Group Ltd. (Bermuda)	2,120
	388	Maxim Integrated Products, Inc.	11,326
	93	Maxwell Technologies, Inc.(b)	674
	154	MedAssets, Inc.(b)	2,479
	123	Medidata Solutions, Inc.(b)	4,920
	270	Mentor Graphics Corp.(b)	4,031
	180	Micrel, Inc.	1,730
	173	MICROS Systems, Inc.(b)	7,519
	197	Microsemi Corp.(b)	3,771
	21	MicroStrategy, Inc., Class A(b)	1,858
	467	Mitek Systems, Inc.(a) (b)	1,111
	125	MKS Instruments, Inc.	3,031
	103	Monolithic Power Systems, Inc.(b)	2,180
	274	MSCI, Inc., Class A(b)	7,946
	59	MTS Systems Corp.	2,853
	342	NCR Corp.(b)	8,184
	112	Netscout Systems, Inc.(b)	2,813
	114	NetSuite, Inc.(b)	6,797
	500	Nuance Communications, Inc.(b)	11,120
	106	Omnicell, Inc.(b)	1,619
	136	OmniVision Technologies, Inc.(b)	2,054
	827	ON Semiconductor Corp.(b)	5,483
	41	OPNET Technologies, Inc.	1,703
	244	Parametric Technology Corp.(b)	4,939
	46	Pegasystems, Inc.	936
	459	PMC - Sierra, Inc.(b)	2,364
	57	Power Integrations, Inc.	1,773
	130	Progress Software Corp.(b)	2,614
	185	QLIK Technologies, Inc.(b)	3,585
	175	QLogic Corp.(b)	1,659
	82	Quality Systems, Inc.	1,493
	639	Quantum Corp.(b)	767
	153	RealD, Inc.(a) (b)	1,616
	80	Realpage, Inc.(b)	1,583
	204	Rimage Corp.	1,401
	300	Riverbed Technology, Inc.(b)	5,370
	246	Rovi Corp.(b)	3,774
	149	Semtech Corp.(b)	4,075
	213	Sigma Designs, Inc.(b)	1,225
	128	Silicon Graphics International(a) (b)	1,074
	372	Silicon Image, Inc.(b)	1,734
	88	Silicon Laboratories, Inc.(b)	3,680
	413	Skyworks Solutions, Inc.(b)	9,354
	173	SolarWinds, Inc.(b)	9,693
	178	Solera Holdings, Inc.	9,213
	168	Spansion, Inc.-Class A, Class A(b)	1,969
	181	STEC, Inc.(b)	889
	56	Stratasys, Inc.(b)	4,197
	179	Super Micro Computer, Inc.(b)	1,670
	91	Sykes Enterprises, Inc.(b)	1,334
	80	Synaptics, Inc.(b)	2,138
	84	Synchronoss Technologies, Inc.(b)	1,534
	46	SYNNEX Corp.(b)	1,519
	311	Synopsys, Inc.(b)	10,201
	65	Syntel, Inc.	3,910
	244	Take-Two Interactive Software, Inc.(b)	3,018
	142	Tessera Technologies, Inc.	2,308
	339	TriQuint Semiconductor, Inc.(b)	1,715
	92	Tyler Technologies, Inc.(b)	4,317
	57	Ultimate Software Group, Inc.(b)	5,387
	68	Ultratech, Inc.(b)	2,232
	71	Unisys Corp.(b)	1,227
	90	Veeco Instruments, Inc.(a) (b)	2,561
	195	VeriFone Systems, Inc.(b)	5,926
	65	Verint Systems, Inc.(b)	1,805
	114	VMware, Inc., Class A(b)	10,368
	84	Volterra Semiconductor Corp.(b)	1,475
	2,086	Wave Systems Corp., Class A(b)	1,314
			495,332
		Utilities - 3.9%
	106	ALLETE, Inc.	4,156
	200	Alliant Energy Corp.	8,964
	84	American States Water Co.	3,822
	370	American Water Works Co., Inc.	14,123
	320	Aqua America, Inc.	8,173
	173	Atmos Energy Corp.	6,057
	156	Avista Corp.	3,699
	107	Black Hills Corp.	3,819
	162	California Water Service Group	2,916
	1,058	Calpine Corp.(b)	18,261
	62	CH Energy Group, Inc.	4,043
	80	Chesapeake Utilities Corp.	3,600
	149	Cleco Corp.	6,003
	147	El Paso Electric Co.	4,682
	151	Empire District Electric Co.	3,020
	119	EnerNOC, Inc.(b)	1,344
	2,019	GenOn Energy, Inc.(b)	5,148
	307	Great Plains Energy, Inc.	6,217
	235	Hawaiian Electric Industries, Inc.	5,854
	120	IDACORP, Inc.	5,125
	90	ITC Holdings Corp.	7,070
	81	Laclede Group, Inc.	3,298
	373	MDU Resources Group, Inc.	7,729
	88	MGE Energy, Inc.	4,448
	172	National Fuel Gas Co.	8,958
	102	New Jersey Resources Corp.	4,139
	257	Northeast Utilities	9,956
	78	Northwest Natural Gas Co.	3,421
	127	NorthWestern Corp.	4,406
	462	NV Energy, Inc.	8,468
	153	OGE Energy Corp.	8,741
	101	Otter Tail Corp.	2,447
	62	PICO Holdings, Inc.(b)	1,122
	168	Piedmont Natural Gas Co., Inc.	5,184
	245	PNM Resources, Inc.	5,177
	215	Portland General Electric Co.	5,811
	301	Questar Corp.	5,906
	86	South Jersey Industries, Inc.	4,297
	126	Southwest Gas Corp.	5,284
	181	UGI Corp.	6,013
	107	UIL Holdings Corp.	3,838
	97	UNS Energy Corp.	4,130
	202	Vectren Corp.	5,909
	250	Westar Energy, Inc.	7,175
	107	WGL Holdings, Inc.	4,179
			256,132
		Total Common Stocks - 99.5%
		(Cost $5,086,819)	6,469,820
		Master Limited Partnership - 0.2%
		Energy - 0.2%
	261	Energy Transfer Equity, LP	11,868
		(Cost $5,896)
		Warrants - 0.0%*
	22	Magnum Hunter Resources Corp., 10/14/2013(b)(e)(f)	-
		(Cost $0)
		Total Long-Term Investments - 99.7%
		(Cost $5,092,715)	6,481,688
		Investments of Collateral for Securities Loaned - 4.3%
	279,935	BNY Mellon Securities Lending Overnight Fund, 0.2159%(c) (d)	279,935
		(Cost $279,935)
		Total Investments - 104.0%
		(Cost $5,372,650)	6,761,623
		Liabilities in excess of Other Assets - (4.0%)	(261,961)
		Net Assets  - 100.0%	$                 6,499,662

*Amount is less than 0.1%
AG - Stock Corporation
LP - Limited Partnership
NV - Publicly Traded Company
PLC - Public Limited Company
REIT - Real Estate Investment Trust
SA - Corporation
(a)	Security, or portion thereof, was on loan at November 30, 2012.
(b)	Non-income producing security.
(c)	At November 30, 2012, the total market value of the Fund's securities on loan was $271,558 and the total market value of the collateral held by the Fund was $279,935 .
(d)	Interest rate shown reflects yield as of November 30, 2012.
(e)	Security is valued based on observable and/or unobservable inputs in accordance with Fair
	Valuation procedures established in good faith by management and approved by the Board
	of Trustees. The total market value of such securities is $0 which represents less than
	0.1% of net assets.
(f)	Illiquid security.
Securities are classified by sectors that represent broad groupings of related industries.
See previously submitted notes to financial statements for the period ended August 31, 2012.

Country Allocation**
United States	95.1%
Bermuda	2.5%
Canada	0.8%
Cayman Islands	0.3%
Switzerland	0.3%
Puerto Rico	0.2%
Liberia	0.2%
Luxembourg	0.2%
Ireland	0.2%
Panama	0.1%
Marshall Islands	0.1%
British Virgin Islands	0.0%	***
Israel	0.0%	***
Curacao	0.0%	***
Bahamas	0.0%	***
** Subject to change daily. Based on long-term investments.
***Less than 0.1%.

At November 30, 2012, the cost and related gross unrealized appreciation and depreciation on investments for tax purposes are as follows:

Cost of Investments for Tax Purposes		Gross Tax Unrealized Appreciation		Gross Tax Unrealized Depreciation		Net Tax Unrealized Appreciation on Investments
$	5,356,944	$	1,670,925	$	(266,246)	$	1,404,679

Securities listed on an exchange are valued at the last reported sale price on the principal exchange or on the principal over-the-counter market on which such securities are traded, as of the close of regular trading on the New York Stock Exchange (“NYSE”) on the day the securities are being valued or, if there are no sales, at the mean of the most recent bid and asked prices. Equity securities that are traded primarily on the NASDAQ Stock Market are valued at the NASDAQ Official Closing Price. Debt securities are valued at the mean of the last available bid and ask prices for such securities or, if such prices are not available, at prices for securities of comparable maturity, quality and type. If sufficient market activity is limited or does not exist, the pricing providers or broker-dealers may utilize proprietary valuation models which consider market characteristics such as benchmark yield curves, option-adjusted spreads, credit spreads, estimated default rates, coupon rates, anticipated timing of principal repayments, underlying collateral, or other unique security features in order to estimate relevant cash flows, which are then discounted to calculate a security’s fair value. Short-term securities with maturities of 60 days or less at time of purchase are valued at amortized cost, which approximates market value. Money market funds are valued at net asset value.

For those securities where quotations or prices are not available, the valuations are determined in accordance with procedures established in good faith by management and approved by the Board of Trustees of the Trust (“Board of Trustees”). Valuations in accordance with these procedures are intended to reflect each security’s (or asset’s) “fair value.” Fair value is defined as the price that the Fund would receive to sell an investment or pay to transfer a liability in an orderly transaction with an independent buyer in the principal market, or in the absence of a principal market, the most advantageous market for the investment or liability. Each such determination is based on a consideration of all relevant factors, which are likely to vary from one pricing context to another. Examples of such factors may include, but are not limited to: (i) the type of security, (ii) the initial cost of the security, (iii) the existence of any contractual restrictions on the security’s disposition, (iv) the price and extent of public trading in similar securities of the issuer or of comparable companies, (v) quotations or evaluated prices from broker-dealers and/or pricing services, (vi) information obtained from the issuer, analysts, and/or the appropriate stock exchange (for exchange-traded securities), (vii) an analysis of the

company’s financial statements, and (viii) an evaluation of the forces that influence the issuer and the market(s) in which the security is purchased and sold (e.g. the existence of pending merger activity, public offerings or tender offers that might affect the value of the security).

There are three different categories for valuations. Level 1 valuations are those based upon quoted prices in active markets. Level 2 valuations are those based upon quoted prices in inactive markets or based upon significant observable inputs (e.g. yield curves; benchmark interest rates; indices). Level 3 valuations are those based upon unobservable inputs (e.g. discounted cash flow analysis; non-market based methods used to determine fair valuation).

The Fund values Level 1 securities using readily available market quotations in active markets. The Fund values Level 2 fixed income securities using independent pricing providers who employ matrix pricing models utilizing market prices, broker quotes and prices of securities with comparable maturities and qualities. The Fund values Level 2 equity securities using various observable market inputs. The fair value estimates for the Level 3 securities are determined in accordance with the Trust's Valuation procedures.

The valuation process involved for Level 3 measurements for the Fund is completed on daily basis and is designed to subject the Level 3 valuations to an appropriate level of oversight and review. For Level 3 securities, the Fund utilizes a Pricing Committee which is comprised of employees responsible for implementing the valuation procedures established by the Fund. Investment professionals prepare preliminary valuations based on their evaluation of financial data, company specific developments, market valuations of comparable companies and other factors. These preliminary valuations are reviewed by the Pricing Committee with subsequent deliberations until an appropriate price is determined for the Level 3 security.

The following table represents the Fund’s investments carried by caption and by level within the fair value hierarchy as of November 30, 2012:

Description	Level 1		Level 2			Level 3		Total
(value in $000s)
Assets:
Common Stocks	$	6,470	$	-		$	-	$	6,470
Master Limited Partnership		12		-			-		12
Warrants		-		-	†		-		-	†
Investments of Collateral for Securities Loaned		280		-			-		280
Total	$	6,762	$	-	†	$	-	$	6,762

† Market value is less than minimum figure disclosed.

During the three months ended November 30, 2012, there were no transfers between levels.

The following table presents the activity of the Fund’s investments measured at fair value using significant unobservable inputs (Level 3 valuations) for the period ended November 30, 2012.

Level 3 Holdings	Securities
Beginning Balance at 8/31/12	$	1
Net Realized Gain/Loss		(2	)
Change in Unrealized Gain/Loss		1
Sales		-	†
Ending Balance at 11/30/12	$	-

† Market value is less than minimum figure disclosed.

WFVK Wilshire 5000 Total Market ETF
Portfolio of Investments
November 30, 2012 (unaudited)
	Number
	of Shares	Description	Value
		Long-Term Investments - 99.7%
		Common Stocks - 99.6%
		Basic Materials - 3.3%
	74	Air Products & Chemicals, Inc.	$                       6,138
	32	Airgas, Inc.	2,834
	34	Albemarle Corp.	2,033
	403	Alcoa, Inc.	3,389
	46	Allegheny Technologies, Inc.	1,204
	66	Allied Nevada Gold Corp.(a)	2,148
	30	Ashland, Inc.	2,128
	32	Cabot Corp.	1,207
	28	Carpenter Technology Corp.	1,357
	56	Celanese Corp., Series A	2,298
	28	CF Industries Holdings, Inc.	5,993
	144	Chemtura Corp.(a)	2,926
	54	Cliffs Natural Resources, Inc.(b)	1,553
	54	Coeur d'Alene Mines Corp.(a)	1,256
	68	Commercial Metals Co.	921
	16	Compass Minerals International, Inc.	1,222
	22	Cytec Industries, Inc.	1,510
	18	Domtar Corp.	1,442
	501	Dow Chemical Co.	15,125
	63	Eastman Chemical Co.	3,834
	104	Ecolab, Inc.	7,496
	399	EI du Pont de Nemours & Co.	17,213
	60	FMC Corp.	3,328
	389	Freeport-McMoRan Copper & Gold, Inc.	15,175
	150	Hecla Mining Co.	870
	92	Huntsman Corp.	1,513
	34	International Flavors & Fragrances, Inc.	2,211
	170	International Paper Co.	6,314
	30	Intrepid Potash, Inc.	638
	54	MeadWestvaco Corp.	1,669
	42	Molycorp, Inc.(a) (b)	377
	237	Monsanto Co.	21,707
	72	Mosaic Co.	3,892
	8	NewMarket Corp.	2,123
	187	Newmont Mining Corp.	8,806
	124	Nucor Corp.	5,106
	48	Olin Corp.	995
	62	PPG Industries, Inc.	7,705
	120	Praxair, Inc.	12,865
	34	Reliance Steel & Aluminum Co.	1,918
	28	Rockwood Holdings, Inc.	1,284
	26	Royal Gold, Inc.	2,100
	60	RPM International, Inc.	1,741
	30	Sensient Technologies Corp.	1,086
	44	Sherwin-Williams Co.	6,711
	42	Sigma-Aldrich Corp.	3,046
	56	Southern Copper Corp.	2,033
	112	Steel Dynamics, Inc.	1,447
	105	Stillwater Mining Co.(a)	1,205
	62	Titanium Metals Corp.	1,030
	66	U.S. Steel Corp.(b)	1,423
	44	Valspar Corp.	2,762
	50	Vulcan Materials Co.	2,642
	30	WR Grace & Co.(a)	1,964
			212,913
		Communications - 10.6%
	28	Acme Packet, Inc.(a)	559
	46	ADTRAN, Inc.(b)	903
	138	Amazon.com, Inc.(a)	34,783
	26	AMC Networks, Inc., Class A(a)	1,372
	60	AOL, Inc.(a)	2,251
	94	Arris Group, Inc.(a)	1,313
	85	Aruba Networks, Inc.(a)	1,656
	2,568	AT&T, Inc.	87,646
	104	Cablevision Systems Corp., Class A	1,439
	287	CBS Corp., Class B	10,326
	220	CenturyLink, Inc.	8,545
	64	Ciena Corp.(a)	952
	2,360	Cisco Systems, Inc.	44,628
	781	Comcast Corp., Class A	29,038
	571	Corning, Inc.	6,983
	124	Crown Castle International Corp.(a)	8,373
	40	DigitalGlobe, Inc.(a)	998
	262	Directtv(a)	13,021
	50	Discovery Communications, Inc., Class A(a)	3,021
	90	DISH Network Corp., Class A	3,334
	481	eBay, Inc.(a)	25,406
	72	EchoStar Corp., Class A(a)	2,258
	14	Equinix, Inc.(a)	2,601
	50	Expedia, Inc.	3,093
	38	F5 Networks, Inc.(a)	3,560
	162	Facebook, Inc., Class A(a)	4,536
	26	FactSet Research Systems, Inc.	2,402
	70	Finisar Corp.(a) (b)	950
	485	Frontier Communications Corp.(b)	2,333
	102	Gannett Co., Inc.	1,826
	108	Google, Inc., Class A(a)	75,424
	58	Harris Corp.	2,734
	56	IAC/InterActiveCorp	2,640
	40	InterDigital, Inc.	1,707
	176	Interpublic Group of Cos., Inc.	1,904
	32	IPG Photonics Corp.(a)	1,891
	134	JDS Uniphase Corp.(a)	1,625
	28	John Wiley & Sons, Inc., Class A	1,196
	205	Juniper Networks, Inc.(a)	3,686
	32	Lamar Advertising Co., Class A(a)	1,257
	62	Leap Wireless International, Inc.(a)	403
	60	Level 3 Communications, Inc.(a)	1,132
	60	Liberty Global, Inc., Class A(a)	3,362
	241	Liberty Interactive Corp., Class A(a)	4,651
	62	Liberty Media Corp. - Liberty Capital, Class A(a)	6,819
	12	Liberty Ventures(a)	703
	138	McGraw-Hill Cos., Inc.	7,329
	24	Meredith Corp.	748
	195	MetroPCS Communications, Inc.(a)	2,077
	132	Motorola Solutions, Inc.	7,187
	22	NetFlix, Inc.(a) (b)	1,798
	46	NeuStar, Inc., Class A(a)	1,849
	80	New York Times Co., Class A(a)	649
	647	News Corp., Class A	15,942
	144	Omnicom Group, Inc.	7,163
	16	OpenTable, Inc.(a) (b)	718
	30	Plantronics, Inc.	1,009
	104	Polycom, Inc.(a)	1,088
	18	priceline.com, Inc.(a)	11,937
	42	Rackspace Hosting, Inc.(a)	2,903
	172	RF Micro Devices, Inc.(a)	743
	56	SBA Communications Corp., Class A(a)	3,854
	52	Scripps Networks Interactive, Inc., Class A	3,070
	1,839	Sirius XM Radio, Inc.(a)	5,112
	1,545	Sprint Nextel Corp.(a)	8,853
	341	Symantec Corp.(a)	6,397
	47	Telephone & Data Systems, Inc.	1,082
	229	Tellabs, Inc.	815
	68	Thomson Reuters Corp. (Canada)	1,873
	108	TIBCO Software, Inc.(a)	2,705
	128	Time Warner Cable, Inc.	12,146
	427	Time Warner, Inc.	20,197
	68	tw telecom, Inc.(a)	1,747
	80	VeriSign, Inc.(a)	2,730
	1,236	Verizon Communications, Inc.	54,532
	225	Viacom, Inc., Class B	11,612
	32	ViaSat, Inc.(a)	1,223
	92	Virgin Media, Inc.	3,236
	77	VirnetX Holding Corp.(a) (b)	2,654
	647	Walt Disney Co.	32,130
	2	Washington Post Co., Class B(b)	734
	28	WebMD Health Corp.(a)	393
	223	Windstream Corp.(b)	1,869
	465	Yahoo!, Inc.(a)	8,728
			672,072
		Consumer, Cyclical - 10.3%
	40	Abercrombie & Fitch Co., Class A	1,836
	12	Advance Auto Parts, Inc.	878
	54	Aeropostale, Inc.(a)	746
	48	Alaska Air Group, Inc.(a)	2,052
	112	American Eagle Outfitters, Inc.	2,374
	50	ANN, Inc.(a)	1,678
	56	Arrow Electronics, Inc.(a)	2,087
	72	Ascena Retail Group, Inc.(a)	1,447
	40	Autoliv, Inc.	2,414
	92	AutoNation, Inc.(a)	3,583
	16	AutoZone, Inc.(a)	6,140
	30	Bally Technologies, Inc.(a)	1,354
	88	Bed Bath & Beyond, Inc.(a)	5,167
	154	Best Buy Co., Inc.	2,019
	38	Big Lots, Inc.(a)	1,070
	44	BorgWarner, Inc.(a)	2,917
	56	Brinker International, Inc.	1,677
	62	Brunswick Corp.	1,598
	30	Buckle, Inc.	1,535
	70	CarMax, Inc.(a)	2,538
	128	Carnival Corp. (Panama)	4,948
	34	Carter's, Inc.(a)	1,803
	38	Casey's General Stores, Inc.	1,877
	22	Cash America International, Inc.	819
	36	Cheesecake Factory, Inc.	1,231
	92	Chico's FAS, Inc.	1,716
	16	Chipotle Mexican Grill, Inc.(a)	4,221
	22	Choice Hotels International, Inc.	715
	74	Cintas Corp.	3,067
	134	Coach, Inc.	7,751
	52	Cooper Tire & Rubber Co.	1,299
	80	Copart, Inc.(a)	2,417
	150	Costco Wholesale Corp.	15,599
	577	CVS Caremark Corp.	26,836
	76	Dana Holding Corp.	1,078
	64	Darden Restaurants, Inc.	3,384
	30	Deckers Outdoor Corp.(a) (b)	1,149
	491	Delta Air Lines, Inc.(a)	4,910
	48	Dick's Sporting Goods, Inc.	2,520
	44	Dillard's, Inc., Class A	3,912
	30	Dolby Laboratories, Inc., Class A(a)	1,001
	112	Dollar Tree, Inc.(a)	4,675
	62	Domino's Pizza, Inc.	2,579
	134	DR Horton, Inc.	2,608
	26	DreamWorks Animation SKG, Inc., Class A(a) (b)	445
	42	Ezcorp, Inc., Class A(a)	807
	68	Family Dollar Stores, Inc.	4,842
	120	Fastenal Co.	5,017
	58	Federal-Mogul Corp.(a)	456
	92	Foot Locker, Inc.	3,297
	1,676	Ford Motor Co.	19,190
	28	Fossil, Inc.(a)	2,420
	98	GameStop Corp., Class A(b)	2,573
	205	Gap, Inc.	7,064
	302	General Motors Co.(a)	7,816
	72	Genuine Parts Co.	4,686
	110	Goodyear Tire & Rubber Co.(a)	1,386
	34	Guess?, Inc.	880
	40	Hanesbrands, Inc.(a)	1,444
	84	Harley-Davidson, Inc.	3,945
	26	Harman International Industries, Inc.	1,029
	60	Hasbro, Inc.	2,308
	509	Home Depot, Inc.	33,121
	28	Hyatt Hotels Corp., Class A(a)	1,022
	66	Iconix Brand Group, Inc.(a)	1,331
	90	Ingram Micro, Inc., Class A(a)	1,458
	140	International Game Technology	1,942
	40	Jack in the Box, Inc.(a)	1,102
	102	JC Penney Co., Inc.(a) (b)	1,830
	187	JetBlue Airways Corp.(a)	961
	274	Johnson Controls, Inc.	7,546
	48	Jones Group, Inc.	564
	88	Kohl's Corp.	3,929
	201	Las Vegas Sands Corp.	9,377
	48	Lear Corp.	2,096
	74	Lennar Corp., Class A	2,815
	114	Limited Brands, Inc.	5,945
	156	LKQ Corp.(a)	3,420
	467	Lowe's Cos., Inc.	16,854
	179	Macy's, Inc.	6,927
	38	Madison Square Garden Co., Class A(a)	1,664
	142	Marriott International, Inc., Class A	5,153
	14	Marriott Vacations Worldwide Corp.(a)	557
	140	Mattel, Inc.	5,251
	431	McDonald's Corp.	37,514
	30	MDC Holdings, Inc.	1,057
	82	Meritor, Inc.(a)	351
	136	MGM Resorts International(a)	1,380
	28	Mohawk Industries, Inc.(a)	2,408
	28	MSC Industrial Direct Co., Inc., Class A	2,034
	36	Navistar International Corp.(a) (b)	735
	114	Newell Rubbermaid, Inc.	2,486
	156	NIKE, Inc., Class B	15,207
	92	Nordstrom, Inc.	4,976
	36	Nu Skin Enterprises, Inc., Class A	1,634
	2	NVR, Inc.(a)	1,800
	64	O'Reilly Automotive, Inc.(a)	6,021
	62	Orient-Express Hotels Ltd., Class A (Bermuda)(a)	764
	42	Oshkosh Corp.(a)	1,233
	38	Owens & Minor, Inc.	1,040
	152	PACCAR, Inc.	6,679
	14	Panera Bread Co., Class A(a)	2,247
	44	Penn National Gaming, Inc.(a)	2,236
	64	PetSmart, Inc.	4,522
	40	Polaris Industries, Inc.	3,392
	81	Pulte Group, Inc.(a)	1,362
	28	PVH Corp.	3,209
	20	Ralph Lauren Corp.	3,142
	52	Regal Entertainment Group, Class A(b)	810
	986	Rite Aid Corp.(a)	996
	96	Ross Stores, Inc.	5,464
	60	Royal Caribbean Cruises Ltd. (Liberia)	2,115
	118	Saks, Inc.(a) (b)	1,239
	54	Scientific Games Corp., Class A(a)	450
	17	Sears Canada, Inc. (Canada)(a)	196
	40	Sears Holdings Corp.(a) (b)	1,680
	36	Signet Jewelers Ltd. (Bermuda)	1,935
	237	Southwest Airlines Co.	2,259
	213	Staples, Inc.	2,492
	280	Starbucks Corp.	14,524
	62	Starwood Hotels & Resorts Worldwide, Inc.	3,346
	251	Target Corp.	15,846
	34	Tempur-Pedic International, Inc.(a)	906
	34	Tenneco, Inc.(a)	1,090
	70	Tesla Motors, Inc.(a)	2,367
	24	Thor Industries, Inc.	906
	60	Tiffany & Co.	3,539
	66	TiVo, Inc.(a)	772
	328	TJX Cos., Inc.	14,544
	80	Toll Brothers, Inc.(a)	2,547
	44	Toro Co.	1,974
	44	Tractor Supply Co.	3,943
	48	TRW Automotive Holdings Corp.(a)	2,431
	44	Ulta Salon Cosmetics & Fragrance, Inc.	4,412
	44	Under Armour, Inc., Class A(a)	2,281
	154	United Continental Holdings, Inc.(a)	3,114
	28	United Stationers, Inc.	859
	60	Urban Outfitters, Inc.(a)	2,262
	104	US Airways Group, Inc.(a)	1,341
	36	VF Corp.	5,778
	44	Visteon Corp.(a)	2,204
	32	WABCO Holdings, Inc.(a)	1,986
	403	Walgreen Co.	13,666
	685	Wal-Mart Stores, Inc.	49,334
	28	Warnaco Group, Inc.(a)	2,013
	18	Watsco, Inc.	1,290
	281	Wendy's Co.	1,309
	34	WESCO International, Inc.(a)	2,198
	22	Whirlpool Corp.	2,241
	48	Williams-Sonoma, Inc.	2,172
	32	Wolverine World Wide, Inc.	1,385
	38	World Fuel Services Corp.	1,480
	28	WW Grainger, Inc.	5,433
	60	Wyndham Worldwide Corp.	2,945
	30	Wynn Resorts Ltd.	3,372
	181	Yum! Brands, Inc.	12,141
			652,711
		Consumer, Non-cyclical - 21.5%
	56	Aaron's, Inc.	1,607
	675	Abbott Laboratories	43,875
	62	Acacia Research Corp.(a)	1,378
	17	ACCO Brands Corp.(a)	115
	30	Acorda Therapeutics, Inc.(a)	755
	160	Aetna, Inc.	6,910
	38	Alere, Inc.(a)	703
	76	Alexion Pharmaceuticals, Inc.(a)	7,298
	46	Align Technology, Inc.(a)	1,260
	122	Allergan, Inc.	11,315
	30	Alliance Data Systems Corp.(a)	4,275
	759	Altria Group, Inc.	25,662
	34	AMERIGROUP Corp.(a)	3,122
	110	AmerisourceBergen Corp.	4,644
	363	Amgen, Inc.	32,234
	68	Apollo Group, Inc., Class A(a)	1,305
	259	Archer-Daniels-Midland Co.	6,915
	130	Ariad Pharmaceuticals, Inc.(a)	2,907
	191	Automatic Data Processing, Inc.	10,841
	30	Auxilium Pharmaceuticals, Inc.(a)	574
	46	Avery Dennison Corp.	1,539
	125	Avis Budget Group, Inc.(a)	2,367
	234	Avon Products, Inc.	3,264
	210	Baxter International, Inc.	13,917
	68	Beam, Inc.	3,815
	92	Becton Dickinson and Co.	7,054
	82	Biogen IDEC, Inc.(a)	12,225
	60	BioMarin Pharmaceutical, Inc.(a)	2,916
	14	Bio-Rad Laboratories, Inc., Class A(a)	1,463
	613	Boston Scientific Corp.(a)	3,396
	40	Brink's Co.	1,098
	661	Bristol-Myers Squibb Co.	21,568
	60	Brookdale Senior Living, Inc.(a)	1,534
	63	Brown-Forman Corp., Class B	4,421
	72	Bruker Corp.(a)	1,051
	80	Bunge Ltd. (Bermuda)	5,853
	70	Cadiz, Inc.(a)	599
	92	Campbell Soup Co.	3,381
	130	Cardinal Health, Inc.	5,259
	24	Cardtronics, Inc.(a)	551
	92	CareFusion Corp.(a)	2,569
	76	Catamaran Corp. (Canada)(a)	3,700
	199	Celgene Corp.(a)	15,639
	38	Charles River Laboratories International, Inc.(a)	1,458
	16	Chemed Corp.	1,089
	72	Church & Dwight Co., Inc.	3,899
	108	Cigna Corp.	5,645
	62	Clorox Co.	4,734
	1,740	Coca-Cola Co.	65,981
	154	Coca-Cola Enterprises, Inc.	4,802
	194	Colgate-Palmolive Co.	21,049
	44	Community Health Systems, Inc.(a)	1,296
	185	ConAgra Foods, Inc.	5,524
	102	Constellation Brands, Inc., Class A(a)	3,660
	84	Convergys Corp.	1,311
	24	Cooper Cos., Inc.	2,279
	36	CoreLogic, Inc.(a)	930
	64	Corrections Corp. of America	2,170
	30	Covance, Inc.(a)	1,710
	66	Coventry Health Care, Inc.	2,883
	38	CR Bard, Inc.	3,762
	48	Cubist Pharmaceuticals, Inc.(a)	1,949
	42	DaVita HealthCare Partners, Inc.(a)	4,536
	112	Dean Foods Co.(a)	1,920
	68	DENTSPLY International, Inc.	2,700
	30	DeVry, Inc.	782
	106	Dr Pepper Snapple Group, Inc.	4,754
	40	Edwards Lifesciences Corp.(a)	3,471
	399	Eli Lilly & Co.	19,567
	64	ENDO Health Solutions, Inc.(a)	1,834
	52	Equifax, Inc.	2,664
	88	Estee Lauder Cos., Inc., Class A	5,126
	320	Express Scripts Holding Co.(a)	17,232
	90	Flowers Foods, Inc.	2,119
	106	Forest Laboratories, Inc.(a)	3,759
	34	FTI Consulting, Inc.(a)	1,051
	50	Gartner, Inc.(a)	2,394
	237	General Mills, Inc.	9,715
	74	Genpact Ltd. (Bermuda)	1,188
	329	Gilead Sciences, Inc.(a)	24,675
	36	Global Payments, Inc.	1,581
	60	Green Mountain Coffee Roasters, Inc.(a) (b)	2,200
	134	H&R Block, Inc.	2,416
	20	Haemonetics Corp.(a)	1,621
	36	Harris Teeter Supermarkets, Inc.	1,368
	62	HCA Holdings, Inc.	1,969
	130	Health Management Associates, Inc., Class A(a)	1,033
	52	Health Net, Inc.(a)	1,225
	60	HealthSouth Corp.(a)	1,319
	36	Henry Schein, Inc.(a)	2,908
	64	Herbalife Ltd. (Cayman Islands)	2,942
	98	Hershey Co.	7,180
	88	Hertz Global Holdings, Inc.(a)	1,376
	36	Hill-Rom Holdings, Inc.	1,007
	59	Hillshire Brands Co.	1,643
	116	HJ Heinz Co.	6,781
	60	HMS Holdings Corp.(a)	1,390
	116	Hologic, Inc.(a)	2,213
	80	Hormel Foods Corp.	2,481
	54	Hospira, Inc.(a)	1,609
	62	Humana, Inc.	4,055
	22	IDEXX Laboratories, Inc.(a)	2,056
	58	Illumina, Inc.(a) (b)	3,115
	78	Incyte Corp. Ltd.(a) (b)	1,373
	42	Ingredion, Inc.	2,728
	12	Intuitive Surgical, Inc.(a)	6,348
	82	Iron Mountain, Inc.	2,591
	20	ITT Educational Services, Inc.(a) (b)	363
	38	Jarden Corp.(a)	2,011
	54	JM Smucker Co.	4,777
	1,167	Johnson & Johnson	81,375
	96	Kellogg Co.	5,324
	168	Kimberly-Clark Corp.	14,401
	202	Kraft Foods Group, Inc.(a)	9,134
	271	Kroger Co.	7,111
	42	Laboratory Corp. of America Holdings(a)	3,553
	18	Lancaster Colony Corp.	1,363
	22	Lender Processing Services, Inc.	547
	76	Life Technologies Corp.(a)	3,751
	30	LifePoint Hospitals, Inc.(a)	1,079
	66	Live Nation Entertainment, Inc.(a)	579
	50	Lorillard, Inc.	6,058
	24	Magellan Health Services, Inc.(a)	1,245
	34	Manpower, Inc.	1,307
	38	Masimo Corp.	787
	40	MasterCard, Inc., Class A	19,547
	26	Matthews International Corp., Class A	786
	62	McCormick & Co., Inc.	4,003
	102	McKesson Corp.	9,636
	88	Mead Johnson Nutrition Co.	6,001
	40	Medicis Pharmaceutical Corp., Class A	1,730
	92	Medivation, Inc.(a)	4,798
	26	MEDNAX, Inc.(a)	2,054
	409	Medtronic, Inc.	17,223
	1,216	Merck & Co., Inc.	53,869
	58	Molson Coors Brewing Co., Class B	2,405
	607	Mondelez International, Inc.	15,715
	77	MoneyGram International, Inc.(a)	925
	88	Monster Beverage Corp.(a)	4,580
	70	Monster Worldwide, Inc.(a)	381
	76	Moody's Corp.	3,692
	28	Morningstar, Inc.	1,787
	140	Mylan, Inc.(a)	3,805
	56	Myriad Genetics, Inc.(a)	1,608
	24	NuVasive, Inc.(a)	348
	68	Omnicare, Inc.	2,464
	40	Onyx Pharmaceuticals, Inc.(a)	3,019
	38	PAREXEL International Corp.(a)	1,227
	48	Patterson Cos., Inc.	1,637
	148	Paychex, Inc.	4,816
	665	PepsiCo, Inc.	46,690
	36	Perrigo Co.	3,726
	3,296	Pfizer, Inc.	82,466
	40	Pharmacyclics, Inc.(a)	2,122
	44	PHH Corp.(a)	964
	693	Philip Morris International, Inc.	62,287
	15	Post Holdings, Inc.(a)	517
	1,205	Procter & Gamble Co.	84,145
	40	PSS World Medical, Inc.(a)	1,138
	114	Quanta Services, Inc.(a)	2,948
	58	Quest Diagnostics, Inc.	3,351
	38	Questcor Pharmaceuticals, Inc.(b)	986
	30	Ralcorp Holdings, Inc.(a)	2,674
	38	Regeneron Pharmaceuticals, Inc.(a)	6,709
	46	Rent-A-Center, Inc.	1,599
	68	ResMed, Inc.	2,794
	212	Reynolds American, Inc.	9,269
	60	Robert Half International, Inc.	1,696
	92	Rollins, Inc.	2,095
	98	RR Donnelley & Sons Co.(b)	921
	174	Safeway, Inc.(b)	2,977
	185	SAIC, Inc.	2,133
	30	Salix Pharmaceuticals Ltd.(a)	1,285
	32	Scotts Miracle-Gro Co., Class A	1,327
	105	Seattle Genetics, Inc.(a) (b)	2,658
	112	Service Corp. International	1,560
	20	Sirona Dental Systems, Inc.(a)	1,252
	70	Smithfield Foods, Inc.(a)	1,566
	46	Snyders-Lance, Inc.	1,108
	34	Sotheby's	981
	134	St Jude Medical, Inc.	4,594
	473	Star Scientific, Inc.(a) (b)	1,343
	34	STERIS Corp.	1,162
	3	Strayer Education, Inc.	157
	144	Stryker Corp.	7,799
	247	Sysco Corp.	7,818
	24	Techne Corp.	1,702
	24	Teleflex, Inc.	1,661
	56	Tenet Healthcare Corp.(a)	1,622
	68	Theravance, Inc.(a)	1,529
	36	Thoratec Corp.(a)	1,339
	100	Total System Services, Inc.	2,195
	50	Towers Watson & Co., Class A	2,644
	22	TreeHouse Foods, Inc.(a)	1,154
	28	Tupperware Brands Corp.	1,816
	130	Tyson Foods, Inc., Class A	2,492
	44	United Rentals, Inc.(a)	1,827
	26	United Therapeutics Corp.(a)	1,366
	459	UnitedHealth Group, Inc.	24,965
	54	Universal American Corp.	448
	18	Universal Corp.	898
	40	Universal Health Services, Inc., Class B	1,803
	28	Valassis Communications, Inc.(a) (b)	727
	50	Varian Medical Systems, Inc.(a)	3,458
	44	VCA Antech, Inc.(a)	914
	38	Verisk Analytics, Inc., Class A(a)	1,894
	78	Vertex Pharmaceuticals, Inc.(a)	3,104
	62	ViroPharma, Inc.(a)	1,537
	92	Vivus, Inc.(a) (b)	1,040
	48	Watson Pharmaceuticals, Inc.(a)	4,224
	44	Weight Watchers International, Inc.(b)	2,286
	34	WellCare Health Plans, Inc.(a)	1,641
	140	WellPoint, Inc.	7,826
	24	West Pharmaceutical Services, Inc.	1,297
	285	Western Union Co.	3,594
	76	Whole Foods Market, Inc.	7,095
	90	Zimmer Holdings, Inc.	5,937
			1,368,693
		Diversified - 0.0%*
	100	Leucadia National Corp.	2,215
		Energy - 10.3%
	203	Anadarko Petroleum Corp.	14,858
	152	Apache Corp.	11,718
	30	Atwood Oceanics, Inc.(a)	1,380
	174	Baker Hughes, Inc.	7,508
	28	Berry Petroleum Co., Class A	871
	30	Bill Barrett Corp.(a)	521
	92	Cabot Oil & Gas Corp., Class A	4,333
	104	Cameron International Corp.(a)	5,611
	14	CARBO Ceramics, Inc.	1,072
	40	Carrizo Oil & Gas, Inc.(a)	830
	112	Cheniere Energy, Inc.(a)	1,882
	253	Chesapeake Energy Corp.	4,309
	829	Chevron Corp.	87,617
	38	Cimarex Energy Co.	2,285
	32	Comstock Resources, Inc.(a)	525
	30	Concho Resources, Inc.(a)	2,408
	549	ConocoPhillips	31,260
	90	Consol Energy, Inc.	2,822
	26	Continental Resources, Inc.(a)	1,786
	197	Denbury Resources, Inc.(a)	3,040
	158	Devon Energy Corp.	8,164
	24	Diamond Offshore Drilling, Inc.(b)	1,656
	42	Dresser-Rand Group, Inc.(a)	2,218
	16	Dril-Quip, Inc.(a)	1,126
	34	Energen Corp.	1,514
	52	Energy XXI Bermuda Ltd. (Bermuda)(b)	1,647
	90	EOG Resources, Inc.	10,586
	74	EQT Corp.	4,444
	94	EXCO Resources, Inc.(b)	729
	50	Exterran Holdings, Inc.(a)	1,043
	2,057	Exxon Mobil Corp.	181,304
	84	FMC Technologies, Inc.(a)	3,432
	52	Forest Oil Corp.(a)	331
	68	Gulfport Energy Corp.(a)	2,587
	385	Halliburton Co.	12,840
	70	Helix Energy Solutions Group, Inc.(a)	1,226
	42	Helmerich & Payne, Inc.	2,192
	116	Hess Corp.	5,755
	150	HollyFrontier Corp.	6,800
	80	Key Energy Services, Inc.(a)	535
	416	Kinder Morgan, Inc.	14,065
	204	Kodiak Oil & Gas Corp. (Canada)(a)	1,750
	24	Lufkin Industries, Inc.	1,314
	285	Marathon Oil Corp.	8,792
	142	Marathon Petroleum Corp.	8,455
	52	McMoRan Exploration Co.(a) (b)	444
	80	Murphy Oil Corp.	4,539
	108	Nabors Industries Ltd. (Bermuda)(a)	1,588
	183	National Oilwell Varco, Inc.	12,499
	46	Newfield Exploration Co.(a)	1,120
	54	Noble Energy, Inc.	5,278
	345	Occidental Petroleum Corp.	25,947
	56	Oceaneering International, Inc.	2,950
	26	Oil States International, Inc.(a)	1,839
	60	Oneok, Inc.	2,692
	90	Patterson-UTI Energy, Inc.	1,598
	118	Peabody Energy Corp.	2,963
	274	Phillips 66	14,349
	52	Pioneer Natural Resources Co.	5,564
	64	Plains Exploration & Production Co.(a)	2,285
	72	QEP Resources, Inc.	2,025
	84	Quicksilver Resources, Inc.(a) (b)	266
	90	Range Resources Corp.	5,762
	42	Rosetta Resources, Inc.(a)	1,887
	56	Rowan Companies PLC (United Kingdom)(a)	1,777
	265	SandRidge Energy, Inc.(a) (b)	1,550
	567	Schlumberger Ltd. (Curacao)	40,609
	16	SEACOR Holdings, Inc.(a)	1,450
	36	SM Energy Co.	1,789
	144	Southwestern Energy Co.(a)	4,998
	219	Spectra Energy Corp.	6,121
	35	SunCoke Energy, Inc.(a)	569
	102	Superior Energy Services, Inc.(a)	2,072
	32	Swift Energy Co.(a)	495
	80	Tesoro Corp.	3,382
	84	Ultra Petroleum Corp. (Canada)(a) (b)	1,684
	24	Unit Corp.(a)	1,078
	265	Valero Energy Corp.	8,549
	24	Walter Energy, Inc.	725
	44	Whiting Petroleum Corp.(a)	1,845
	247	Williams Cos., Inc.	8,111
	82	WPX Energy, Inc.(a)	1,295
			654,835
		Financial - 16.8%
	22	Affiliated Managers Group, Inc.(a)	2,835
	190	Aflac, Inc.	10,068
	28	Alexander & Baldwin, Inc.(a)	836
	26	Alexandria Real Estate Equities, Inc., REIT	1,766
	4	Alleghany Corp.(a)	1,404
	24	Allied World Assurance Co. Holdings AG (Switzerland)	1,948
	227	Allstate Corp.	9,189
	42	Alterra Capital Holdings Ltd. (Bermuda)	983
	68	American Campus Communities, Inc., REIT	2,978
	66	American Capital Agency Corp., REIT	2,082
	211	American Capital Ltd.(a)	2,528
	415	American Express Co.	23,198
	48	American Financial Group, Inc.	1,903
	192	American International Group, Inc.(a)	6,361
	14	American National Insurance Co.	966
	164	American Tower Corp., REIT	12,289
	92	Ameriprise Financial, Inc.	5,582
	303	Annaly Capital Management, Inc., REIT	4,460
	110	AON PLC (United Kingdom)	6,248
	68	Apartment Investment & Management Co., Class A, REIT	1,705
	84	Apollo Investment Corp.	682
	66	Arch Capital Group Ltd. (Bermuda)(a)	2,977
	44	Arthur J Gallagher & Co.	1,607
	60	Artio Global Investors, Inc.	136
	46	Aspen Insurance Holdings Ltd. (Bermuda)	1,440
	96	Associated Banc-Corp.	1,234
	56	Assurant, Inc.	1,916
	54	Assured Guaranty Ltd. (Bermuda)	753
	70	Astoria Financial Corp.	653
	42	AvalonBay Communities, Inc., REIT	5,535
	58	Axis Capital Holdings Ltd. (Bermuda)	2,086
	122	BancorpSouth, Inc.	1,614
	4,802	Bank of America Corp.	47,348
	26	Bank of Hawaii Corp.	1,130
	35	Bank of Montreal (Canada)	2,101
	463	Bank of New York Mellon Corp.	11,084
	299	BB&T Corp.	8,423
	717	Berkshire Hathaway, Inc., Class B(a)	63,153
	68	BioMed Realty Trust, Inc., REIT	1,310
	46	BlackRock, Inc.	9,064
	16	BOK Financial Corp.	881
	52	Boston Properties, Inc., REIT	5,337
	88	Brandywine Realty Trust, REIT	1,050
	30	BRE Properties, Inc., REIT	1,460
	94	Brookfield Office Properties, Inc. (Canada)(b)	1,527
	72	Brown & Brown, Inc.	1,932
	32	Camden Property Trust, REIT	2,102
	224	Capital One Financial Corp.	12,902
	179	CapitalSource, Inc.	1,441
	86	CBL & Associates Properties, Inc., REIT	1,936
	164	CBRE Group, Inc., Class A(a)	3,105
	189	Cedar Realty Trust, Inc., REIT	1,024
	483	Charles Schwab Corp.	6,327
	331	Chimera Investment Corp., REIT	907
	124	Chubb Corp.	9,547
	78	Cincinnati Financial Corp.	3,161
	80	CIT Group, Inc.(a)	2,964
	1,264	Citigroup, Inc.	43,696
	146	Citizens Republic Bancorp, Inc.(a)	2,740
	26	City National Corp.	1,266
	140	CME Group, Inc.	7,738
	152	CNO Financial Group, Inc.	1,383
	64	Colonial Properties Trust, REIT	1,306
	64	Comerica, Inc.	1,894
	40	Commerce Bancshares, Inc.	1,431
	36	CommonWealth REIT, REIT	545
	106	Corporate Office Properties Trust, REIT	2,616
	142	Cousins Properties, Inc., REIT	1,166
	245	CubeSmart, REIT	3,381
	30	Cullen/Frost Bankers, Inc.	1,638
	181	DCT Industrial Trust, Inc., REIT	1,131
	120	DDR Corp., REIT	1,837
	88	DiamondRock Hospitality Co., REIT	769
	48	Digital Realty Trust, Inc., REIT	3,098
	227	Discover Financial Services	9,445
	76	Douglas Emmett, Inc., REIT	1,726
	132	Duke Realty Corp., REIT	1,782
	32	DuPont Fabros Technology, Inc., REIT	739
	102	E*Trade Financial Corp.(a)	859
	58	East West Bancorp, Inc.	1,227
	24	EastGroup Properties, Inc., REIT	1,255
	52	Eaton Vance Corp.	1,658
	28	Endurance Specialty Holdings Ltd. (Bermuda)	1,126
	24	EPR Properties, REIT	1,088
	16	Equity Lifestyle Properties, Inc., REIT	1,050
	124	Equity Residential, REIT	6,883
	20	Erie Indemnity Co., Class A	1,426
	12	Essex Property Trust, Inc., REIT	1,686
	24	Everest Re Group Ltd. (Bermuda)	2,603
	70	Extra Space Storage, Inc., REIT	2,461
	3,447	Federal National Mortgage Association(a)	941
	20	Federal Realty Investment Trust, REIT	2,081
	60	Federated Investors, Inc., Class B(b)	1,191
	385	FelCor Lodging Trust, Inc., REIT(a)	1,617
	130	Fidelity National Financial, Inc., Class A	3,147
	355	Fifth Third Bancorp	5,197
	72	First American Financial Corp.	1,714
	505	First California Financial Group, Inc.(a)	4,010
	6	First Citizens BancShares, Inc., Class A	990
	44	First Financial Bancorp	639
	27	First Financial Bankshares, Inc.(b)	1,051
	126	First Horizon National Corp.	1,192
	130	First Industrial Realty Trust, Inc., REIT(a)	1,716
	107	First Niagara Financial Group, Inc.	807
	52	FirstMerit Corp.	732
	67	Flagstar Bancorp, Inc.(a)	1,223
	92	Forest City Enterprises, Inc., Class A(a)	1,385
	54	Franklin Resources, Inc.	7,129
	116	Fulton Financial Corp.	1,129
	390	General Growth Properties, Inc., REIT	7,554
	185	Genworth Financial, Inc., Class A(a)	1,101
	132	Getty Realty Corp., REIT(b)	2,223
	220	Glimcher Realty Trust, REIT	2,358
	215	Goldman Sachs Group, Inc.	25,325
	16	Greenhill & Co., Inc.	760
	325	Hampton Roads Bankshares, Inc.(a)	384
	56	Hancock Holding Co.	1,760
	30	Hanover Insurance Group, Inc.	1,096
	191	Hartford Financial Services Group, Inc.	4,045
	30	Hatteras Financial Corp., REIT	800
	58	HCC Insurance Holdings, Inc.	2,139
	126	HCP, Inc., REIT	5,676
	82	Health Care REIT, Inc., REIT	4,829
	44	Healthcare Realty Trust, Inc., REIT	1,049
	204	Healthcare Trust of America, Inc., REIT	2,197
	38	Highwoods Properties, Inc., REIT	1,225
	22	Home Properties, Inc., REIT	1,296
	68	Hospitality Properties Trust, REIT	1,544
	454	Host Hotels & Resorts, Inc., REIT	6,669
	12	Howard Hughes Corp.(a)	884
	221	Hudson City Bancorp, Inc.	1,781
	293	Huntington Bancshares, Inc.	1,802
	20	Iberiabank Corp.	975
	30	IntercontinentalExchange, Inc.(a)	3,965
	40	International Bancshares Corp.	724
	195	Invesco Ltd. (Bermuda)	4,873
	140	Invesco Mortgage Capital, Inc., REIT	2,964
	140	iStar Financial, Inc., REIT(a)	1,071
	90	Janus Capital Group, Inc.	738
	58	Jefferies Group, Inc.	984
	46	Jones Lang LaSalle, Inc.	3,772
	1,643	JPMorgan Chase & Co.	67,494
	34	Kemper Corp.	1,007
	397	KeyCorp	3,208
	32	Kilroy Realty Corp., REIT	1,443
	181	Kimco Realty Corp., REIT	3,486
	40	LaSalle Hotel Properties, REIT	964
	78	Legg Mason, Inc.	1,991
	52	Liberty Property Trust, REIT	1,811
	130	Lincoln National Corp.	3,211
	110	Loews Corp.	4,497
	30	M&T Bank Corp.	2,932
	72	Macerich Co., REIT	4,068
	42	Mack-Cali Realty Corp., REIT	1,062
	4	Markel Corp.(a)	1,916
	160	Marsh & McLennan Cos., Inc.	5,635
	108	MBIA, Inc.(a) (b)	966
	341	MetLife, Inc.	11,318
	132	MFA Financial, Inc., REIT	1,110
	228	MGIC Investment Corp.(a)	399
	16	Mid-America Apartment Communities, Inc., REIT	997
	649	Morgan Stanley	10,949
	54	NASDAQ OMX Group, Inc.	1,308
	44	National Retail Properties, Inc., REIT	1,352
	177	New York Community Bancorp, Inc.	2,303
	100	Northern Trust Corp.	4,802
	66	Northwest Bancshares, Inc.	787
	124	NYSE Euronext	2,895
	78	Old National Bancorp	916
	102	Old Republic International Corp.	1,070
	42	Omega Healthcare Investors, Inc., REIT	963
	34	Pacific Capital Bancorp(a)	1,563
	30	PartnerRe Ltd. (Bermuda)	2,486
	160	People's United Financial, Inc.	1,950
	30	Platinum Underwriters Holdings Ltd. (Bermuda)	1,336
	56	Plum Creek Timber Co., Inc., REIT	2,400
	205	PNC Financial Services Group, Inc.	11,509
	43	Popular, Inc. (Puerto Rico)(a)	850
	42	Post Properties, Inc., REIT	2,063
	28	Potlatch Corp., REIT	1,091
	276	Power REIT, REIT(b)	2,194
	325	Preferred Apartment Communities, Inc., Class A, REIT	2,538
	144	Principal Financial Group, Inc.	3,910
	88	PrivateBancorp, Inc.	1,442
	20	ProAssurance Corp.	1,814
	219	Progressive Corp.	4,654
	248	ProLogis, Inc., REIT	8,417
	26	Prosperity Bancshares, Inc.	1,069
	48	Protective Life Corp.	1,303
	201	Prudential Financial, Inc.	10,476
	16	PS Business Parks, Inc., REIT	1,032
	56	Public Storage, REIT	7,876
	457	Radian Group, Inc.	2,002
	82	Rait Financial Trust, REIT	455
	62	Raymond James Financial, Inc.	2,340
	45	Rayonier, Inc., REIT	2,243
	32	Realty Income Corp., REIT(b)	1,302
	60	Redwood Trust, Inc., REIT	1,003
	50	Regency Centers Corp., REIT	2,342
	551	Regions Financial Corp.	3,675
	34	Reinsurance Group of America, Inc.	1,741
	26	RenaissanceRe Holdings Ltd. (Bermuda)	2,152
	147	Resource Capital Corp., REIT	870
	96	SEI Investments Co.	2,113
	68	Senior Housing Properties Trust, REIT	1,520
	26	Signature Bank(a)	1,824
	112	Simon Property Group, Inc., REIT	17,039
	36	SL Green Realty Corp., REIT	2,714
	199	SLM Corp.	3,293
	26	Sovran Self Storage, Inc., REIT	1,607
	80	St Joe Co.(a) (b)	1,710
	30	StanCorp Financial Group, Inc.	1,020
	64	Starwood Property Trust, Inc., REIT	1,463
	213	State Street Corp.	9,466
	60	Sterling Financial Corp.	1,234
	30	Stifel Financial Corp.(a)	913
	322	Strategic Hotels & Resorts, Inc., REIT(a)	2,006
	76	Sunstone Hotel Investors, Inc., REIT(a)	784
	219	SunTrust Banks, Inc.	5,946
	114	Susquehanna Bancshares, Inc.	1,172
	22	SVB Financial Group(a)	1,215
	695	Synovus Financial Corp.	1,647
	106	T Rowe Price Group, Inc.	6,855
	40	Tanger Factory Outlet Centers, REIT	1,315
	28	Taubman Centers, Inc., REIT	2,169
	82	TCF Financial Corp.	974
	114	TD Ameritrade Holding Corp.	1,847
	54	TFS Financial Corp.(a)	444
	54	Torchmark Corp.	2,807
	172	Travelers Cos., Inc.	12,181
	38	Trustmark Corp.	844
	78	UDR, Inc., REIT	1,795
	26	UMB Financial Corp.	1,102
	76	Umpqua Holdings Corp.	886
	32	United Bankshares, Inc.	790
	128	Unum Group	2,610
	769	US Bancorp	24,808
	48	Validus Holdings Ltd. (Bermuda)	1,702
	100	Valley National Bancorp	954
	105	Ventas, Inc., REIT	6,683
	212	Visa, Inc., Class A	31,739
	72	Vornado Realty Trust, REIT	5,503
	44	Waddell & Reed Financial, Inc., Class A	1,430
	58	Washington Federal, Inc.	932
	32	Washington Real Estate Investment Trust, REIT	829
	40	Webster Financial Corp.	833
	72	Weingarten Realty Investors, REIT	1,957
	2,214	Wells Fargo & Co.	73,084
	20	Westamerica Bancorporation	851
	138	Weyerhaeuser Co., REIT	3,803
	4	White Mountains Insurance Group Ltd. (Bermuda)	2,061
	28	Wintrust Financial Corp.	1,030
	72	WR Berkley Corp.	2,862
	70	Zions Bancorporation	1,405
			1,069,010
		Industrial - 10.6%
	259	3M Co.	23,556
	58	Actuant Corp., Class A	1,669
	26	Acuity Brands, Inc.	1,720
	58	AECOM Technology Corp.(a)	1,310
	38	Aegion Corp.(a)	784
	42	AGCO Corp.(a)	1,938
	132	Agilent Technologies, Inc.	5,054
	20	Alliant Techsystems, Inc.	1,200
	108	AMETEK, Inc.	4,032
	76	Amphenol Corp., Class A	4,706
	30	AO Smith Corp.	1,889
	32	Aptargroup, Inc.	1,525
	18	Atlas Air Worldwide Holdings, Inc.(a)	779
	78	Avnet, Inc.(a)	2,285
	52	B/E Aerospace, Inc.(a)	2,463
	56	Babcock & Wilcox Co.	1,411
	80	Ball Corp.	3,575
	52	Bemis Co., Inc.	1,747
	44	Benchmark Electronics, Inc.(a)	684
	223	Boeing Co.	16,564
	32	Brady Corp., Class A	1,022
	32	Carlisle Cos., Inc.	1,813
	260	Caterpillar, Inc.	22,162
	62	CH Robinson Worldwide, Inc.	3,828
	28	Chart Industries, Inc.(a)	1,693
	36	CLARCOR, Inc.	1,670
	36	Clean Harbors, Inc.(a)	2,062
	30	Con-way, Inc.	843
	90	Covanta Holding Corp.	1,699
	34	Crane Co.	1,443
	72	Crown Holdings, Inc.(a)	2,689
	348	CSX Corp.	6,876
	72	Cummins, Inc.	7,068
	32	Curtiss-Wright Corp.	1,015
	208	Danaher Corp.	11,226
	172	Deere & Co.	14,457
	76	Donaldson Co., Inc.	2,552
	80	Dover Corp.	5,087
	124	Eaton Corp. PLC (Ireland)(a)	6,468
	48	EMCOR Group, Inc.	1,577
	317	Emerson Electric Co.	15,923
	34	Energizer Holdings, Inc.	2,712
	36	EnerSys, Inc.(a)	1,254
	8	Engility Holdings, Inc.(a)	147
	24	Esterline Technologies Corp.(a)	1,467
	74	Exelis, Inc.	836
	94	Expeditors International of Washington, Inc.	3,517
	104	FedEx Corp.	9,311
	80	FLIR Systems, Inc.	1,632
	24	Flowserve Corp.	3,325
	86	Fluor Corp.	4,565
	68	Fortune Brands Home & Security, Inc.(a)	2,039
	30	Gardner Denver, Inc.	2,096
	44	General Cable Corp.(a)	1,263
	118	General Dynamics Corp.	7,847
	4,560	General Electric Co.	96,353
	28	Genesee & Wyoming, Inc., Class A(a)	2,043
	64	Gentex Corp.	1,136
	42	Graco, Inc.	2,075
	92	GrafTech International Ltd.(a)	892
	32	Granite Construction, Inc.	979
	18	Greif, Inc., Class A	739
	48	Harsco Corp.	967
	433	Heckmann Corp.(a) (b)	1,693
	76	Hexcel Corp.(a)	1,965
	44	Hillenbrand, Inc.	931
	290	Honeywell International, Inc.	17,786
	26	Hubbell, Inc., Class B	2,191
	15	Huntington Ingalls Industries	613
	50	IDEX Corp.	2,248
	177	Illinois Tool Works, Inc.	10,898
	26	Itron, Inc.(a)	1,139
	37	ITT Corp.	828
	96	Jabil Circuit, Inc.	1,824
	68	Jacobs Engineering Group, Inc.(a)	2,784
	42	JB Hunt Transport Services, Inc.	2,497
	42	Joy Global, Inc.	2,394
	48	Kansas City Southern	3,751
	30	Kaydon Corp.	691
	84	KBR, Inc.	2,335
	52	Kennametal, Inc.	1,982
	30	Kirby Corp.(a)	1,736
	42	Knight Transportation, Inc.	631
	48	L-3 Communications Holdings, Inc.	3,689
	30	Landstar System, Inc.	1,517
	74	Leggett & Platt, Inc.	2,061
	30	Lennox International, Inc.	1,578
	60	Lincoln Electric Holdings, Inc.	2,851
	106	Lockheed Martin Corp.	9,890
	90	Manitowoc Co., Inc.	1,350
	18	Martin Marietta Materials, Inc.	1,620
	148	Masco Corp.	2,510
	28	Matson, Inc.	644
	112	McDermott International, Inc. (Panama)(a)	1,179
	16	Mettler-Toledo International, Inc.(a)	2,993
	20	Middleby Corp.(a)	2,548
	72	Molex, Inc.	1,899
	30	Moog, Inc., Class A(a)	1,103
	66	National Instruments Corp.	1,605
	32	Nordson Corp.	1,958
	152	Norfolk Southern Corp.	9,178
	94	Northrop Grumman Corp.	6,270
	66	Old Dominion Freight Line, Inc.(a)	2,207
	50	Owens Corning(a)	1,729
	72	Owens-Illinois, Inc.(a)	1,442
	50	Packaging Corp. of America	1,822
	56	Pall Corp.	3,331
	68	Parker Hannifin Corp.	5,586
	94	Pentair Ltd. (Switzerland)	4,558
	62	PerkinElmer, Inc.	1,962
	26	Plexus Corp.(a)	602
	58	Polypore International, Inc.(a) (b)	2,381
	50	Precision Castparts Corp.	9,169
	148	Raytheon Co.	8,455
	22	Regal-Beloit Corp.	1,535
	179	Republic Services, Inc.	5,096
	22	Rock-Tenn Co., Class A	1,431
	62	Rockwell Automation, Inc.	4,913
	68	Rockwell Collins, Inc.	3,888
	40	Roper Industries, Inc.	4,461
	30	Ryder System, Inc.	1,412
	50	Sanmina Corp.(a)	471
	54	Sealed Air Corp.	908
	50	Shaw Group, Inc.(a)	2,247
	32	Silgan Holdings, Inc.	1,423
	42	Simpson Manufacturing Co., Inc.	1,374
	30	Snap-On, Inc.	2,383
	42	Sonoco Products Co.	1,263
	58	Spirit Aerosystems Holdings, Inc., Class A(a)	914
	28	SPX Corp.	1,907
	58	Stanley Black & Decker, Inc.	4,171
	38	Stericycle, Inc.(a)	3,552
	64	SunPower Corp.(a) (b)	294
	26	Tech Data Corp.(a)	1,148
	26	Teledyne Technologies, Inc.(a)	1,638
	32	Terex Corp.(a)	774
	46	Tetra Tech, Inc.(a)	1,185
	116	Textron, Inc.	2,725
	179	Thermo Fisher Scientific, Inc.	11,375
	30	Tidewater, Inc.	1,346
	50	Timken Co.	2,252
	28	TransDigm Group, Inc.	3,809
	66	Trimble Navigation Ltd.(a)	3,672
	54	Trinity Industries, Inc.	1,716
	193	Union Pacific Corp.	23,697
	283	United Parcel Service, Inc., Class B	20,690
	333	United Technologies Corp.	26,677
	50	Universal Display Corp.(a) (b)	1,194
	40	URS Corp.	1,507
	56	USG Corp.(a) (b)	1,502
	72	UTi Worldwide, Inc. (British Virgin Islands)	1,017
	18	Valmont Industries, Inc.	2,514
	100	Vishay Intertechnology, Inc.(a)	970
	34	Wabtec Corp.	2,877
	62	Waste Connections, Inc.	2,041
	152	Waste Management, Inc.	4,951
	40	Waters Corp.(a)	3,382
	34	Werner Enterprises, Inc.	737
	40	Woodward, Inc.	1,463
	58	Worthington Industries, Inc.	1,366
	74	Xylem, Inc.	1,931
	42	Zebra Technologies Corp., Class A(a)	1,636
			675,298
		Technology - 12.8%
	265	Activision Blizzard, Inc.	3,032
	56	Acxiom Corp.(a)	991
	207	Adobe Systems, Inc.(a)	7,164
	275	Advanced Micro Devices, Inc.(a) (b)	605
	92	Akamai Technologies, Inc.(a)	3,369
	94	Allscripts Healthcare Solutions, Inc.(a)	1,045
	124	Altera Corp.	4,016
	122	Analog Devices, Inc.	4,953
	42	ANSYS, Inc.(a)	2,786
	379	Apple, Inc.	221,821
	529	Applied Materials, Inc.	5,676
	24	athenahealth, Inc.(a)	1,529
	267	Atmel Corp.(a)	1,493
	112	Autodesk, Inc.(a)	3,711
	64	BMC Software, Inc.(a)	2,621
	183	Broadcom Corp., Class A(a)	5,926
	80	Broadridge Financial Solutions, Inc.	1,889
	255	Brocade Communications Systems, Inc.(a)	1,448
	170	CA, Inc.	3,767
	22	CACI International, Inc., Class A(a)	1,125
	189	Cadence Design Systems, Inc.(a)	2,406
	42	Cavium, Inc.(a)	1,480
	52	Cerner Corp.(a)	4,015
	82	Citrix Systems, Inc.(a)	5,015
	136	Cognizant Technology Solutions Corp., Class A(a)	9,143
	58	Computer Sciences Corp.	2,208
	144	Compuware Corp.(a)	1,346
	26	Concur Technologies, Inc.(a)	1,709
	20	Cree, Inc.(a) (b)	646
	90	Cypress Semiconductor Corp.(a)	914
	567	Dell, Inc.	5,466
	48	Diebold, Inc.	1,436
	34	Digital River, Inc.(a)	497
	34	DST Systems, Inc.	1,960
	24	Dun & Bradstreet Corp.	1,900
	170	Electronic Arts, Inc.(a)	2,518
	930	EMC Corp.(a)	23,083
	38	Fair Isaac Corp.	1,627
	84	Fairchild Semiconductor International, Inc.(a)	1,121
	134	Fidelity National Information Services, Inc.	4,837
	72	Fiserv, Inc.(a)	5,543
	74	Fortinet, Inc.(a)	1,479
	895	Hewlett-Packard Co.	11,626
	24	Hittite Microwave Corp.(a)	1,456
	24	IHS, Inc., Class A(a)	2,211
	46	Informatica Corp.(a)	1,236
	2,155	Intel Corp.	42,173
	473	International Business Machines Corp.	89,903
	48	International Rectifier Corp.(a)	820
	82	Intersil Corp., Class A	585
	108	Intuit, Inc.	6,470
	54	Jack Henry & Associates, Inc.	2,099
	66	KLA-Tencor Corp.	3,001
	119	Lam Research Corp.(a)	4,179
	42	Lexmark International, Inc., Class A(b)	1,022
	80	Linear Technology Corp.	2,655
	301	LSI Corp.(a)	2,029
	203	Marvell Technology Group Ltd. (Bermuda)	1,721
	102	Maxim Integrated Products, Inc.	2,977
	42	MedAssets, Inc.(a)	676
	70	Microchip Technology, Inc.	2,129
	341	Micron Technology, Inc.(a)	2,039
	44	MICROS Systems, Inc.(a)	1,912
	62	Microsemi Corp.(a)	1,187
	3,368	Microsoft Corp.	89,656
	48	MSCI, Inc., Class A(a)	1,392
	110	NCR Corp.(a)	2,632
	140	NetApp, Inc.(a)	4,439
	122	Nuance Communications, Inc.(a)	2,713
	217	NVIDIA Corp.	2,600
	205	ON Semiconductor Corp.(a)	1,359
	1,709	Oracle Corp.	54,859
	70	Parametric Technology Corp.(a)	1,417
	86	Pitney Bowes, Inc.(b)	962
	140	PMC - Sierra, Inc.(a)	721
	44	Progress Software Corp.(a)	885
	70	QLogic Corp.(a)	664
	754	Qualcomm, Inc.	47,970
	52	Rambus, Inc.(a)	254
	76	Red Hat, Inc.(a)	3,754
	88	Riverbed Technology, Inc.(a)	1,575
	52	Rovi Corp.(a)	798
	36	Salesforce.com, Inc.(a)	5,676
	92	SanDisk Corp.(a)	3,597
	56	Semtech Corp.(a)	1,532
	26	Silicon Laboratories, Inc.(a)	1,087
	84	Skyworks Solutions, Inc.(a)	1,903
	48	SolarWinds, Inc.(a)	2,690
	40	Solera Holdings, Inc.	2,070
	72	Synopsys, Inc.(a)	2,362
	176	Take-Two Interactive Software, Inc.(a)	2,177
	82	Teradata Corp.(a)	4,877
	106	Teradyne, Inc.(a)	1,658
	365	Texas Instruments, Inc.	10,757
	14	Unisys Corp.(a)	242
	24	Veeco Instruments, Inc.(a) (b)	683
	40	VeriFone Systems, Inc.(a)	1,216
	32	VMware, Inc., Class A(a)	2,910
	92	Western Digital Corp.	3,077
	609	Xerox Corp.	4,147
	94	Xilinx, Inc.	3,257
			817,990
		Utilities - 3.4%
	245	AES Corp.	2,614
	61	AGL Resources, Inc.	2,378
	34	ALLETE, Inc.	1,333
	48	Alliant Energy Corp.	2,151
	114	Ameren Corp.	3,417
	158	American Electric Power Co., Inc.	6,739
	96	American Water Works Co., Inc.	3,664
	94	Aqua America, Inc.	2,401
	48	Atmos Energy Corp.	1,680
	48	Avista Corp.	1,138
	225	Calpine Corp.(a)	3,884
	152	CenterPoint Energy, Inc.	2,999
	44	Cleco Corp.	1,773
	90	CMS Energy Corp.	2,199
	96	Consolidated Edison, Inc.	5,356
	201	Dominion Resources, Inc.	10,273
	62	DTE Energy Co.	3,756
	255	Duke Energy Corp.	16,274
	136	Edison International	6,185
	92	Entergy Corp.	5,846
	341	Exelon Corp.	10,305
	184	FirstEnergy Corp.	7,813
	751	GenOn Energy, Inc.(a)	1,915
	82	Great Plains Energy, Inc.	1,660
	64	Hawaiian Electric Industries, Inc.	1,594
	34	IDACORP, Inc.	1,452
	44	Integrys Energy Group, Inc.	2,339
	26	ITC Holdings Corp.	2,042
	100	MDU Resources Group, Inc.	2,072
	30	National Fuel Gas Co.	1,562
	32	New Jersey Resources Corp.	1,299
	136	NextEra Energy, Inc.	9,345
	122	NiSource, Inc.	2,949
	142	Northeast Utilities	5,501
	26	Northwest Natural Gas Co.	1,140
	40	NorthWestern Corp.	1,388
	116	NRG Energy, Inc.	2,448
	132	NV Energy, Inc.	2,420
	32	OGE Energy Corp.	1,828
	34	Ormat Technologies, Inc.	626
	120	Pepco Holdings, Inc.	2,369
	168	PG&E Corp.	6,880
	52	Piedmont Natural Gas Co., Inc.	1,605
	46	Pinnacle West Capital Corp.	2,367
	72	PNM Resources, Inc.	1,521
	62	Portland General Electric Co.	1,676
	187	PPL Corp.	5,488
	162	Public Service Enterprise Group, Inc.	4,875
	72	Questar Corp.	1,413
	52	SCANA Corp.	2,410
	86	Sempra Energy	5,884
	28	South Jersey Industries, Inc.	1,399
	337	Southern Co.	14,676
	38	Southwest Gas Corp.	1,594
	110	TECO Energy, Inc.	1,849
	56	UGI Corp.	1,860
	58	Vectren Corp.	1,696
	66	Westar Energy, Inc.	1,894
	34	WGL Holdings, Inc.	1,328
	92	Wisconsin Energy Corp.	3,453
	162	Xcel Energy, Inc.	4,382
			218,377
		Total Common Stocks - 99.6%
		(Cost $5,593,377)	6,344,114
		Preferred Stock - 0.0%*
		Consumer, Cyclical - 0.0%*
	1	Orchard Supply Hardware Stores Corp., Series A, 0.00%(a)	2
		(Cost $1)
		Master Limited Partnerships - 0.1%
		Energy - 0.1%
	20	Atlas Energy, LP	676
	62	Energy Transfer Equity, LP	2,819
	34	Energy Transfer Partners, LP	1,492
		(Cost $3,170)	4,987
		Total Long-Term Investments - 99.7%
		(Cost $5,596,548)	6,349,103
		Investments of Collateral for Securities Loaned - 1.1%
	71,112	BNY Mellon Securities Lending Overnight Fund, 0.2159%(c) (d)	71,112
		(Cost $71,112)
		Total Investments - 100.8%
		(Cost $5,667,660)	6,420,215
		Liabilities in excess of Other Assets - (0.8%)	(54,017)
		Net Assets  - 100.0%	$                 6,366,198

AG - Stock Corporation
LP - Limited Partnership
PLC - Public Limited Company
REIT - Real Estate Investment Trust
*	Less than 0.1%
(a)	Non-income producing security.
(b)	Security, or portion thereof, was on loan at November 30, 2012.
(c)	At November 30, 2012, the total market value of the Fund's securities on loan was $71,090 and the total market value of the collateral held by the Fund was $73,650, consisting of cash collateral of $71,112 and U.S. Government and Agency securities valued at $2,538.
(d)	Interest rate shown reflects yield as of November 30, 2012.
	Securities are classified by sectors that represent broad groupings of related industries.

Country Allocation**
United States	98.0%
Bermuda	0.7%
Curacao	0.7%
Canada	0.2%
United Kingdom	0.1%
Switzerland	0.1%
Ireland	0.1%
Panama	0.1%
Cayman Islands	0.0%*
Liberia	0.0%*
British Virgin Islands	0.0%*
Puerto Rico	0.0%*

	** Subject to change daily.  Based on long-term investments.
See previously submitted notes to financial statements for the year ended August 31, 2012.

At November 30, 2012, the cost and related gross unrealized appreciation and depreciation on

investments for tax purposes are as follows:

Cost of Investments	Gross Tax Unrealized	Gross Tax Unrealized	Net Tax Unrealized
for Tax Purposes	Appreciation	Depreciation	Appreciation on Investments
$ 5,665,582	$ 1,138,595	$(383,962)	$ 754,633

Securities listed on an exchange are valued at the last reported sale price on the principal exchange or on the principal over-the-counter market on which such securities are traded, as of the close of regular trading on the New York Stock Exchange (“NYSE”) on the day the securities are being valued or, if there are no sales, at the mean of the most recent bid and asked prices. Equity securities that are traded primarily on the NASDAQ Stock Market are valued at the NASDAQ Official Closing Price. Debt securities are valued at the mean of the last available bid and ask prices for such securities or, if such prices are not available, at prices for securities of comparable maturity, quality and type. If sufficient market activity is limited or does not exist, the pricing providers or broker-dealers may utilize proprietary valuation models which consider market characteristics such as benchmark yield curves, option-adjusted spreads, credit spreads, estimated default rates, coupon rates, anticipated timing of principal repayments, underlying collateral, or other unique security features in order to estimate relevant cash flows, which are then discounted to calculate a security’s fair value. Short-term securities with maturities of 60 days or less at time of purchase are valued at amortized cost, which approximates market value. Money market funds are valued at net asset value.

For those securities where quotations or prices are not available, the valuations are determined in accordance with procedures established in good faith by management and approved by the Board of Trustees of the Trust (“Board of Trustees”). Valuations in accordance with these procedures are intended to reflect each security’s (or asset’s) “fair value.” Fair value is defined as the price that the Fund would receive to sell an investment or pay to transfer a liability in an orderly transaction with an independent buyer in the principal market, or in the absence of a principal market, the most advantageous market for the investment or liability. Each such determination is based on a consideration of all relevant factors, which are likely to vary from one pricing context to another. Examples of such factors may include, but are not limited to: (i) the type of security, (ii) the initial cost of the security, (iii) the existence of any contractual restrictions on the security’s disposition, (iv) the price and extent of public trading in similar securities of the issuer or of comparable companies, (v) quotations or evaluated prices from broker-dealers and/or pricing services, (vi) information obtained from the issuer, analysts, and/or the appropriate stock exchange (for exchange-traded securities), (vii) an analysis of the company’s financial statements, and (viii) an evaluation of the forces that influence the issuer and the market(s) in which the security is purchased and sold (e.g. the existence of pending merger activity, public offerings or tender offers that might affect the value of the security).

There are three different categories for valuations. Level 1 valuations are those based upon quoted prices in active markets. Level 2 valuations are those based upon quoted prices in inactive markets or based upon significant observable inputs (e.g. yield curves; benchmark interest rates; indices). Level 3 valuations are those based upon unobservable inputs (e.g. discounted cash flow analysis; non-market based methods used to determine fair valuation).

The Fund values Level 1 securities using readily available market quotations in active markets. The Fund values Level 2 fixed income securities using independent pricing providers who employ matrix pricing models utilizing market prices, broker quotes and prices of securities with comparable maturities and qualities. The Fund values Level 2 equity securities using various observable market inputs. The Fund did not have any Level 3 securities at November 30, 2012.

The following table represents the Fund's investments carried by caption and by level within the fair value hierarchy as of November 30, 2012:

Description	Level 1			Level 2		Level 3		Total
(value in $000s)
Assets:
Common Stocks	$	6,344		$	-	$	-	$	6,344
Preferred Stocks			–†		-		-			–†
Master Limited Partnerships		5			-		-		5
Investments of Collateral for Securities Loaned		71			-		-		71
Total	$	6,420		$	-	$	-	$	6,420

† Market value is less than the minimum amount disclosed.

During the three months ended November 30, 2012, there were no transfers between levels.

WMCR Wilshire Micro-Cap ETF
Portfolio of Investments
November 30, 2012 (unaudited)
	Number
	of Shares	Description	Value
		Long-Term Investments - 99.6%
		Common Stocks - 98.6%
		Basic Materials - 3.0%
	1,983	American Pacific Corp.(a)	22,983
	2,657	Charles & Colvard Ltd.(a)	9,751
	1,120	Friedman Industries, Inc.	11,200
	7,758	General Steel Holdings, Inc.(a)	8,844
	5,724	Golden Minerals Co.(a) (b)	22,839
	1,376	KMG Chemicals, Inc.	25,071
	3,223	Landec Corp.(a)	32,423
	38,903	Liquidmetal Technologies, Inc.(a)	4,863
	972	Material Sciences Corp.(a)	8,738
	14,415	Midway Gold Corp. (Canada)(a)	21,623
	6,286	Mines Management, Inc.(a) (b)	7,166
	327	Northern Technologies International Corp.(a)	3,401
	912	Oil-Dri Corp. of America	21,450
	987	Orchids Paper Products Co.	20,954
	1,300	Penford Corp.(a)	9,555
	2,384	Solitario Exploration & Royalty Corp.(a)	3,743
	2,852	Timberline Resources Corp.(a)	884
	6,222	U.S. Antimony Corp.(a) (b)	12,257
	927	Universal Stainless & Alloy(a)	31,991
	11,747	Uranerz Energy Corp.(a) (b)	15,624
	11,777	Uranium Energy Corp.(a)	26,616
	34,357	Uranium Resources, Inc.(a)	12,025
	16,807	USEC, Inc.(a)	8,235
	5,829	Verso Paper Corp.(a)	6,645
	11,017	Vista Gold Corp. (Canada)(a)	32,610
	1,667	Xerium Technologies, Inc.(a)	5,001
			386,492
		Communications - 7.5%
	2,210	AH Belo Corp., Class A	10,254
	1,000	Alliance Fiber Optic Products, Inc.	11,540
	1,582	Autobytel, Inc.(a)	6,043
	1,751	Aware, Inc.	11,732
	407	BroadVision, Inc.(a)	3,700
	3,992	CalAmp Corp.(a)	34,611
	2,103	Chyron International Corp.(a)	1,472
	1,068	Cinedigm Digital Cinema Corp., Class A(a)	1,538
	1,440	Clearfield, Inc.(a)	6,782
	1,439	ClearOne Communications, Inc.(a)	5,655
	808	Communications Systems, Inc.	8,468
	1,937	Crexendo, Inc.	5,114
	2,985	Ditech Networks, Inc.(a)	4,328
	5,000	Emmis Communications Corp., Class A(a)	9,500
	7,625	Entravision Communications Corp., Class A	11,437
	764	ePlus, Inc.	30,896
	3,693	FAB Universal Corp.(a) (b)	12,150
	3,872	Fairpoint Communications, Inc.(a)	29,001
	4,539	FiberTower Corp.(a) (b)	190
	5,886	Gray Television, Inc.(a)	12,361
	9,158	Harris Interactive, Inc.(a)	12,455
	1,580	Hawaiian Telcom Holdco, Inc.(a)	28,361
	2,372	HickoryTech Corp.	23,056
	3,247	Hollywood Media Corp.(a)	4,026
	2,035	ID Systems, Inc.(a)	12,312
	1,071	Internet Patents Corp.	4,295
	2,555	Inuvo, Inc.(a)	3,347
	10,533	Ipass, Inc.(a)	19,275
	1,717	KVH Industries, Inc.(a)	21,737
	951	Lantronix, Inc.(a)	1,579
	9,924	Lee Enterprises, Inc.(a)	12,306
	1,462	Lightpath Technologies, Inc., Class A(a)	1,477
	3,816	LIN TV Corp., Class A(a)	24,728
	4,423	Local Corp.(a) (b)	11,367
	4,979	LodgeNet Interactive Corp.(a)	747
	2,643	Media General, Inc., Class A(a) (b)	11,814
	5,656	MeetMe, Inc.(a) (b)	19,853
	1,728	Meru Networks, Inc.(a)	4,026
	7,374	Motricity, Inc.(a)	6,286
	2,256	Multiband Corp.(a)	3,339
	1,570	NeoPhotonics Corp.(a)	8,431
	1,921	Nexstar Broadcasting Group, Inc., Class A(a)	17,289
	5,078	Novatel Wireless, Inc.(a)	6,906
	1,570	Numerex Corp., Class A(a)	17,710
	6,061	Online Resources Corp.(a)	14,001
	3,033	Onstream Media Corp.(a)	1,153
	1,842	Onvia, Inc.(a)	6,732
	1,842	Optical Cable Corp.	7,663
	5,578	ORBCOMM, Inc.(a)	18,854
	2,650	Outdoor Channel Holdings, Inc.	19,689
	12,907	Parkervision, Inc.(a)	29,428
	2,038	PC-Tel, Inc.	13,165
	1,563	Performance Technologies, Inc.(a)	1,329
	1,272	Phazar Corp.(a)	2,569
	29,563	Powerwave Technologies, Inc.(a)	10,152
	3,060	Radio One, Inc., Class D(a)	2,264
	497	Reis, Inc.(a)	6,377
	2,151	Relm Wireless Corp.(a)	3,657
	2,384	RF Industries Ltd.	10,418
	1,341	RigNet, Inc.(a)	25,774
	512	Saga Communications, Inc., Class A	23,219
	1,949	Salem Communications Corp., Class A	10,096
	1,225	Selectica, Inc.(a) (b)	6,370
	1,883	Spanish Broadcasting System, Inc., Class A(a)	4,538
	1,809	Spark Networks, Inc.(a)	10,872
	7,653	support.com, Inc.(a)	33,673
	2,620	Telular Corp.	26,252
	885	Tessco Technologies, Inc.	19,266
	5,957	TheStreet, Inc.	10,008
	921	TigerLogic Corp.(a)	1,731
	9,526	Towerstream Corp.(a) (b)	32,198
	3,315	UniTek Global Services, Inc.(a)	13,194
	3,287	US Auto Parts Network, Inc.(a)	6,377
	8,982	Valuevision Media, Inc., Class A(a)	16,437
	2,908	Vitacost.com, Inc.(a)	21,083
	1,467	Warwick Valley Telephone Co.	16,782
	7,585	Westell Technologies, Inc., Class A(a)	14,791
	2,052	WPCS International, Inc.(a)	1,047
	2,985	Zhone Technologies, Inc.(a)	1,313
	11,615	Zix Corp.(a)	31,825
			967,791
		Consumer, Cyclical - 10.4%
	8,460	American Apparel, Inc.(a)	8,291
	362	Ark Restaurants Corp.	5,792
	1,199	Bassett Furniture Industries, Inc.	13,321
	3,207	Beazer Homes USA, Inc.(a) (b)	47,881
	4,003	Black Diamond, Inc.(a)	32,985
	7,838	BlueLinx Holdings, Inc.(a)	17,949
	2,913	Bon-Ton Stores, Inc.	34,519
	1,300	Books-A-Million, Inc.(a)	3,341
	2,563	Build-A-Bear Workshop, Inc.(a)	9,329
	1,210	Cache, Inc.(a)	2,977
	3,051	Carmike Cinemas, Inc.(a)	46,131
	2,026	Carrols Restaurant Group, Inc.(a)	13,149
	6,827	Casual Male Retail Group, Inc.(a)	26,147
	2,818	Century Casinos, Inc.(a)	7,468
	1,280	Cherokee, Inc.	18,342
	4,676	Christopher & Banks Corp.(a)	21,369
	730	Chuy's Holdings, Inc.(a)	17,191
	1,847	Cobra Electronics Corp.(a)	6,575
	3,575	Coldwater Creek, Inc.(a)	20,449
	7,681	Cosi, Inc.(a)	4,532
	1,578	Crown Crafts, Inc.	9,184
	1,348	Culp, Inc.	19,196
	3,547	Cybex International, Inc.(a)	8,619
	744	Del Frisco's Restaurant Group, Inc.(a)	11,019
	4,665	dELiA*s, Inc.(a)	4,898
	913	Delta Apparel, Inc.(a)	13,248
	987	Dixie Group, Inc.(a)	3,139
	2,718	Douglas Dynamics, Inc.	39,085
	2,306	Dover Downs Gaming & Entertainment, Inc.	4,820
	1,951	Dover Motorsports, Inc.	3,219
	1,398	Educational Development Corp.(b)	5,522
	1,084	Empire Resorts, Inc.(a) (b)	2,005
	1,450	Famous Dave's of America, Inc.(a)	12,615
	771	Flexsteel Industries, Inc.	15,335
	2,769	Forward Industries, Inc.(a)	3,350
	525	Frisch's Restaurants, Inc.	10,006
	3,638	Full House Resorts, Inc.(a)	11,387
	6,180	Furniture Brands International, Inc.(a)	5,501
	560	Gaming Partners International Corp.	3,914
	162	Gentherm, Inc.(a)	1,959
	1,235	Gordmans Stores, Inc.(a)	17,858
	1,990	Granite City Food & Brewery Ltd.(a)	4,259
	1,467	Hooker Furniture Corp.	20,377
	687	Ignite Restaurant Group, Inc.(a)	8,725
	12,500	Jamba, Inc.(a)	26,250
	12,221	Joe's Jeans, Inc.(a)	10,877
	1,108	Johnson Outdoors, Inc., Class A(a)	23,135
	610	Kona Grill, Inc.(a)	5,130
	651	Lakeland Industries, Inc.(a)	3,580
	2,844	Lakes Entertainment, Inc.(a)	7,480
	3,322	Libbey, Inc.(a)	64,845
	1,499	Lifetime Brands, Inc.	14,990
	3,153	Luby's, Inc.(a)	20,053
	2,906	MarineMax, Inc.(a)	24,004
	953	Miller Industries, Inc.	13,628
	1,198	Monarch Casino & Resort, Inc.(a)	11,345
	4,260	Motorcar Parts of America, Inc.(a) (b)	27,605
	3,069	MTR Gaming Group, Inc.(a)	8,839
	444	Nathan's Famous, Inc.(a)	14,057
	4,758	Nautilus, Inc.(a)	16,177
	4,082	Navarre Corp.(a)	7,143
	857	Orchard Supply Hardware Stores Corp., Class A(a) (b)	6,642
	3,248	PC Connection, Inc.	34,429
	1,883	PC Mall, Inc.(a)	11,166
	2,204	Pizza Inn Holdings, Inc.(a) (b)	7,207
	2,202	Reading International, Inc., Class A(a)	12,529
	2,048	Red Lion Hotels Corp.(a)	14,848
	1,714	Rentrak Corp.(a)	32,943
	1,450	RG Barry Corp.	22,228
	987	Rick's Cabaret International, Inc.(a)	8,014
	1,102	Rocky Brands, Inc.(a)	14,668
	4,521	Ruth's Hospitality Group, Inc.(a)	33,907
	2,002	School Specialty, Inc.(a)	2,623
	976	Skyline Corp.(a)	4,002
	2,719	SMF Energy Corp.	396
	4,630	Spartan Motors, Inc.	22,826
	2,398	Stanley Furniture Co., Inc.(a)	10,791
	1,101	Steinway Musical Instruments, Inc.(a)	25,103
	1,293	Supreme Industries, Inc., Class A(a)	4,525
	845	Tandy Leather Factory, Inc.	4,546
	3,463	Town Sports International Holdings, Inc.	35,046
	5,154	Tuesday Morning Corp.(a)	32,522
	2,640	Unifi, Inc.(a)	36,538
	2,153	Virco Manufacturing Corp.(a)	5,339
	1,457	West Marine, Inc.(a)	15,065
	316	Winmark Corp.	17,851
	5,540	Zale Corp.(a)	27,035
			1,338,905
		Consumer, Non-cyclical - 24.5%
	7,683	Aastrom Biosciences, Inc.(a) (b)	9,911
	7,373	ACADIA Pharmaceuticals, Inc.(a)	38,340
	567	Acme United Corp.	6,248
	1,831	Adcare Health Systems, Inc.(a)	8,331
	3,519	Addus HomeCare Corp.(a)	23,859
	15,579	ADVENTRX Pharmaceuticals, Inc.(a)	9,659
	651	Advocat, Inc.	3,450
	4,010	Agenus, Inc.(a)	17,363
	2,524	Alexza Pharmaceuticals, Inc.(a) (b)	13,882
	5,751	Alliance HealthCare Services, Inc.(a)	7,131
	1,581	Altair Nanotechnologies, Inc.(a)	783
	121	Amcon Distributing Co.(b)	7,429
	1,049	American Caresource Holdings, Inc.(a)	1,626
	1,191	American Shared Hospital Services(a)	3,335
	4,149	Amicus Therapeutics, Inc.(a)	23,732
	5,885	Ampio Pharmaceuticals, Inc.(a) (b)	21,892
	2,643	Anacor Pharmaceuticals, Inc.(a)	14,008
	1,549	Anika Therapeutics, Inc.(a)	18,325
	12,956	Anthera Pharmaceuticals, Inc.(a) (b)	8,292
	5,435	Apricus Biosciences, Inc.(a) (b)	11,957
	1,676	Arrowhead Research Corp.(a) (b)	3,704
	4,040	AspenBio Pharma, Inc.(a) (b)	8,322
	16,686	Astex Pharmaceuticals(a)	46,387
	1,362	AT Cross Co., Class A(a)	13,348
	2,057	AtriCure, Inc.(a)	13,885
	1,722	Avalon Holdings Corp., Class A(a)	6,664
	852	Barrett Business Services, Inc.	28,329
	1,225	BioClinica, Inc.(a)	7,264
	523	Biodel, Inc.(a)	1,297
	3,420	BioDelivery Sciences International, Inc.(a) (b)	14,535
	5,499	Biolase, Inc.(a) (b)	9,623
	3,596	BioMimetic Therapeutics, Inc.(a)	27,366
	9,913	Biosante Pharmaceuticals, Inc.(a) (b)	13,383
	580	Biospecifics Technologies Corp.(a)	7,731
	757	Biota Pharmaceuticals, Inc.	3,331
	6,489	Biotime, Inc.(a) (b)	23,296
	16,414	Bovie Medical Corp.(a)	45,959
	328	Bridgford Foods Corp.	2,280
	2,510	BSD Medical Corp.(a) (b)	4,167
	2,535	Cadiz, Inc.(a) (b)	21,674
	3,631	Capital Senior Living Corp.(a)	64,668
	5,902	Cardica, Inc.(a)	6,197
	3,323	CardioNet, Inc.(a)	7,211
	3,434	Cardiovascular Systems, Inc.(a)	40,040
	25,866	Cardium Therapeutics, Inc.(a)	5,613
	2,432	Carriage Services, Inc.	27,020
	5,380	Catalyst Pharmaceutical Partners, Inc.(a)	2,691
	906	CCA Industries, Inc.	3,986
	16,301	Cell Therapeutics, Inc.(a)	22,495
	9,729	Celldex Therapeutics, Inc.(a)	57,790
	40,524	Cel-Sci Corp.(a)	13,782
	5,718	Celsion Corp.(a) (b)	42,885
	99	Ceres, Inc.(a)	411
	7,764	Cerus Corp.(a)	25,078
	5,808	Chelsea Therapeutics International Ltd.(a)	10,861
	2,345	Chindex International, Inc.(a)	24,036
	5,237	Cleveland Biolabs, Inc.(a) (b)	7,227
	651	Coffee Holding Co., Inc.(b)	4,518
	1,167	Collectors Universe	11,938
	10,243	Columbia Laboratories, Inc.(a)	6,146
	10,381	CombiMatrix Corp.(a)	2,884
	1,751	Command Security Corp.(a)	2,784
	928	Cornerstone Therapeutics, Inc.(a)	4,816
	3,732	Coronado Biosciences, Inc.(a)	17,652
	1,288	Craft Brew Alliance, Inc.(a)	8,217
	3,420	Cryo-Cell International, Inc.(a)	8,687
	1,977	Cutera, Inc.(a)	18,683
	616	Cyanotech Corp.(a)	3,216
	2,147	Cyclacel Pharmaceuticals, Inc.(a) (b)	11,121
	1,995	Cynosure, Inc., Class A(a)	44,927
	21,721	Cytokinetics, Inc.(a)	13,947
	6,976	Cytomedix, Inc.(a)	6,139
	9,327	Cytori Therapeutics, Inc.(a) (b)	39,080
	5,130	CytRx Corp.(a) (b)	10,414
	1,786	DARA Biosciences, Inc.(a)	1,506
	438	Daxor Corp.	3,445
	8,918	Delcath Systems, Inc.(a) (b)	14,358
	1,521	Derma Sciences, Inc.(a)	17,324
	5,561	Digirad Corp.(a)	11,289
	5,378	Discovery Laboratories, Inc.(a)	11,563
	2,563	Document Security Systems, Inc.(a) (b)	6,920
	1,115	Durata Therapeutics, Inc.(a) (b)	10,135
	10,000	Durect Corp.(a)	10,000
	4,226	Dusa Pharmaceuticals, Inc.(a)	33,681
	1,923	Edgewater Technology, Inc.(a)	7,288
	5,696	EnteroMedics, Inc.(a)	17,658
	2,132	Entremed, Inc.(a)	3,219
	5,324	Enzo Biochem, Inc.(a)	14,694
	1,545	Exactech, Inc.(a)	26,250
	2,366	Feihe International, Inc.(a) (b)	15,829
	4,200	Female Health Co.	30,240
	7,683	Five Star Quality Care, Inc.(a)	37,800
	2,179	Franklin Covey Co.(a)	26,867
	1,270	Furiex Pharmaceuticals, Inc.(a)	24,714
	1,711	G Willi-Food International Ltd. (Israel)(a) (b)	8,675
	3,355	Galectin Therapeutics, Inc.(a)	6,676
	10,245	Galena Biopharma, Inc.(a)	21,310
	3,475	GenMark Diagnostics, Inc.(a)	34,402
	1,230	GenVec, Inc.(a)	1,525
	779	Golden Enterprises, Inc.	2,532
	759	Graymark Healthcare, Inc.(a)	247
	573	Griffin Land & Nurseries, Inc.	14,537
	3,801	Hackett Group, Inc.(a)	13,532
	8,906	Hansen Medical, Inc.(a) (b)	19,415
	4,355	Harvard Bioscience, Inc.(a)	17,159
	19,409	Hemispherx Biopharma, Inc.(a)	14,945
	644	Heska Corp.	5,764
	4,467	Hudson Global, Inc.(a)	19,610
	912	Hyperion Therapeutics, Inc.(a)	9,667
	3,685	Idera Pharmaceuticals, Inc.(a)	2,653
	2,719	IGI Laboratories, Inc.(a)	2,855
	6,215	ImmunoCellular Therapeutics Ltd.(a)	13,797
	3,076	Information Services Group, Inc.(a)	3,076
	4,193	Innovaro, Inc.(a)	1,803
	18,217	Inovio Pharmaceuticals, Inc.(a)	9,564
	3,756	Insmed, Inc.(a) (b)	26,893
	460	Intercept Pharmaceuticals, Inc.(a) (b)	10,750
	2,878	Intersections, Inc.	26,564
	1,729	Inventure Foods, Inc.(a)	11,221
	11,749	IsoRay, Inc.(a)	7,284
	713	John B Sanfilippo & Son, Inc.(a)	12,634
	2,673	Jones Soda Co.(a)	855
	11,608	Keryx Biopharmaceuticals, Inc.(a) (b)	36,449
	3,352	Kid Brands, Inc.(a)	5,564
	403	KYTHERA Biopharmaceuticals, Inc.(a)	9,861
	2,273	LCA-Vision, Inc.(a)	7,296
	307	Learning Tree International, Inc.(a)	1,698
	828	Limoneira Co.	16,080
	751	Mac-Gray Corp.	8,952
	1,591	Management Network Group, Inc.(a)	3,707
	815	MediciNova, Inc.(a) (b)	1,451
	5,014	MELA Sciences, Inc.(a) (b)	11,332
	1,156	MGC Diagnostics Corp.(a) (b)	7,485
	1,535	MGP Ingredients, Inc.	5,066
	1,800	Misonix, Inc.(a) (b)	10,890
	3,239	Myrexis, Inc.(a)	9,004
	6,105	Nanosphere, Inc.(a)	17,704
	449	National Research Corp.	24,147
	1,488	Natural Alternatives International, Inc.(a)	8,407
	1,974	Nature's Sunshine Products, Inc.	30,261
	15,150	Neostem, Inc.(a)	9,544
	9,861	Neuralstem, Inc.(a)	12,326
	1,786	NeurogesX, Inc.(a)	393
	1,226	NewLink Genetics Corp.(a) (b)	14,749
	1,620	Northwest Biotherapeutics, Inc.(a)	9,931
	2,429	Novabay Pharmaceuticals, Inc.(a)	3,643
	340	NuPathe, Inc.(a) (b)	1,095
	1,113	Nutraceutical International Corp.(a)	18,442
	2,349	Oculus Innovative Sciences, Inc.(a)	1,555
	12,205	Odyssey Marine Exploration, Inc.(a) (b)	34,296
	2,544	Omega Protein Corp.(a)	15,824
	1,208	Omeros Corp.(a) (b)	9,036
	2,139	OncoGenex Pharmaceutical, Inc.(a) (b)	26,973
	9,115	Orexigen Therapeutics, Inc.(a) (b)	43,023
	1,264	Overhill Farms, Inc.(a)	5,587
	2,156	Palatin Technologies, Inc.(a)	1,358
	1,719	PDI, Inc.(a)	11,225
	386	Perceptron, Inc.	2,243
	15,081	Peregrine Pharmaceuticals, Inc.(a)	22,622
	810	Pernix Therapeutics Holdings(a)	6,310
	2,706	Pfsweb, Inc.(a)	6,576
	9,620	PharmAthene, Inc.(a)	11,640
	3,054	PhotoMedex, Inc.(a) (b)	42,359
	1,008	Physicians Formula Holdings, Inc.	4,818
	8,364	Premier Exhibitions, Inc.(a)	22,834
	4,655	PRGX Global, Inc.(a)	29,745
	3,784	Primo Water Corp.(a)	3,898
	2,444	ProPhase Labs, Inc.(a)	3,837
	1,671	Providence Service Corp.(a)	23,260
	1,152	Psychemedics Corp.	13,144
	8,095	PURE Bioscience, Inc.(a)	7,609
	822	QC Holdings, Inc.	2,639
	4,920	RadNet, Inc.(a)	11,956
	1,499	RCM Technologies, Inc.	8,469
	1,772	Reed's, Inc.(a) (b)	12,475
	2,797	Reliv International, Inc.	3,636
	4,906	Repligen Corp.(a)	31,644
	2,992	Repros Therapeutics, Inc.(a) (b)	44,910
	1,426	Response Genetics, Inc.(a)	2,011
	2,844	Rexahn Pharmaceuticals, Inc.(a)	933
	1,493	Rochester Medical Corp.(a)	16,513
	3,385	Rockwell Medical Technologies, Inc.(a)	24,643
	1,080	Rocky Mountain Chocolate Factory, Inc.	11,189
	3,865	Sarepta Therapeutics, Inc.(a) (b)	113,360
	5,674	Senomyx, Inc.(a)	9,816
	7,429	Solta Medical, Inc.(a)	18,573
	294	Somaxon Pharmaceuticals, Inc.(a)	459
	928	Standard Register Co.(a)	464
	1,348	StarTek, Inc.(a)	5,635
	7,275	StemCells, Inc.(a) (b)	13,095
	1,060	Stereotaxis, Inc.(a)	1,484
	2,398	Strategic Diagnostics, Inc.(a)	2,590
	5,187	Sunesis Pharmaceuticals, Inc.(a) (b)	25,779
	1,814	SunLink Health Systems, Inc.(a)	1,905
	1,053	Supernus Pharmaceuticals, Inc.(a) (b)	8,413
	4,128	Synergetics USA, Inc.(a)	17,627
	3,865	Synergy Pharmaceuticals, Inc.(a) (b)	21,489
	2,783	Synthetic Biologics, Inc.(a)	5,566
	8,040	Talon Therapeutics, Inc.(a)	4,221
	1,305	TESARO, Inc.(a) (b)	24,156
	981	Theragenics Corp.(a)	1,422
	3,322	TranS1, Inc.(a)	9,567
	1,517	Transcept Pharmaceuticals, Inc.(a)	8,177
	831	Tree.com, Inc.(a)	14,094
	4,251	Trius Therapeutics, Inc.(a)	20,362
	362	United-Guardian, Inc.	6,512
	644	Universal Security Instruments, Inc.(a)	2,640
	4,397	Uroplasty, Inc.(a)	15,873
	1,854	US Physical Therapy, Inc.	49,539
	209	Utah Medical Products, Inc.	7,386
	2,453	Vascular Solutions, Inc.(a)	36,672
	1,657	Ventrus Biosciences, Inc.(a) (b)	4,109
	764	Verastem, Inc.(a) (b)	5,203
	3,510	Vermillion, Inc.(a)	5,090
	2,146	Versar, Inc.(a)	7,983
	2,764	Vision-Sciences, Inc.(a)	3,013
	2,110	Willamette Valley Vineyards, Inc.(a)	7,702
	10,653	XOMA Corp.(a)	32,492
	639	Young Innovations, Inc.	23,113
	18,670	Zalicus, Inc.(a)	12,229
	12,598	Zogenix, Inc.(a) (b)	33,259
			3,161,319
		Diversified - 0.3%
	5,172	Horizon Pharma, Inc.(a) (b)	13,396
	314	OBA Financial Services, Inc.(a) (b)	5,630
	2,806	Resource America, Inc., Class A	19,277
			38,303
		Energy - 3.8%
	289	Adams Resources & Energy, Inc.	10,083
	2,782	Arabian American Development Co.(a)	22,618
	2,677	Ascent Solar Technologies, Inc.(a)	2,088
	1,500	Barnwell Industries, Inc.(a)	4,995
	709	BioFuel Energy Corp.(a) (b)	3,197
	1,528	Bolt Technology Corp.	22,080
	6,397	Callon Petroleum Co.(a)	30,002
	5,674	Crimson Exploration, Inc.(a)	15,547
	2,338	Double Eagle Petroleum Co.(a)	10,007
	2,196	Edgen Group, Inc.(a)	15,262
	3,084	Emerald Oil, Inc.(a)	15,759
	3,272	Evolution Petroleum Corp.(a)	25,849
	1,436	FieldPoint Petroleum Corp.(a)	5,715
	35,964	Gasco Energy, Inc.(a)	4,233
	1,231	Geokinetics, Inc.(a)	363
	13,173	GMX Resources, Inc.(a)	8,385
	2,818	GreenHunter Energy, Inc.(a)	5,270
	31	HKN, Inc.(a)	1,922
	8,782	Houston American Energy Corp.(a)	4,918
	128	Isramco, Inc.(a) (b)	13,696
	4,540	Lucas Energy, Inc.(a)	6,855
	8,563	Magellan Petroleum Corp.(a)	6,679
	4,889	Miller Energy Resources, Inc.(a) (b)	22,196
	1,717	Mitcham Industries, Inc.(a)	24,879
	1,450	Natural Gas Services Group, Inc.(a)	23,867
	3,230	Ocean Power Technologies, Inc.(a)	7,720
	16,126	Pacific Ethanol, Inc.(a)	5,060
	1,334	Panhandle Oil and Gas, Inc., Class A	37,779
	4,078	Plug Power, Inc.(a)	2,508
	1,014	PostRock Energy Corp.(a)	1,389
	192	PrimeEnergy Corp.(a)	5,284
	1,253	Pyramid Oil Co.(a)	4,686
	11,214	Quantum Fuel Systems Technologies Worldwide, Inc.(a)	9,195
	1,136	Renewable Energy Group, Inc.(a)	6,725
	786	REX American Resources Corp.(a)	14,808
	1,643	Royale Energy, Inc.(a) (b)	5,373
	16,735	Syntroleum Corp.(a)	7,698
	8,752	Tengasco, Inc.(a)	5,759
	2,971	TGC Industries, Inc.(a)	23,887
	4,175	US Energy Corp.(a)	6,513
	1,928	Verenium Corp.(a)	4,242
	2,048	Westmoreland Coal Co.(a)	20,111
	1,089	ZaZa Energy Corp.(a) (b)	2,080
	5,375	Zion Oil & Gas, Inc.(a) (b)	10,105
			487,387
		Financial - 30.4%
	836	Access National Corp.	11,370
	1,693	Agree Realty Corp., REIT	44,390
	864	Alliance Financial Corp.	36,711
	1,474	American National Bankshares, Inc.	29,672
	1,457	American Realty Capital Properties, Inc., REIT(b)	18,941
	1,426	American River Bankshares(a)	9,754
	1,521	American Safety Insurance Holdings Ltd. (Bermuda)(a)	25,644
	3,672	Ameris Bancorp(a)	41,824
	2,670	AmeriServ Financial, Inc.(a)	7,369
	2,613	Apollo Residential Mortgage, Inc., REIT	56,676
	3,315	Arbor Realty Trust, Inc., REIT	17,603
	1,010	Ares Commercial Real Estate Corp., REIT	16,615
	1,676	Arlington Asset Investment Corp., Class A	36,269
	1,485	Asta Funding, Inc.	13,721
	1,942	Atlanticus Holdings Corp.(a) (b)	7,108
	5,561	Bancorp, Inc.(a)	64,841
	1,737	BancTrust Financial Group, Inc.(a)	4,794
	1,138	Bank of Kentucky Financial Corp.	27,972
	892	Bank of Marin Bancorp	31,951
	444	Bar Harbor Bankshares	15,176
	2,676	BBX Capital Corp., Class A(a)	19,347
	1,591	Bofi Holding, Inc.(a)	42,416
	1,366	Bridge Bancorp, Inc.	27,388
	1,876	Bridge Capital Holdings(a)	28,797
	1,847	Bryn Mawr Bank Corp.	39,766
	1,847	BSB Bancorp, Inc.(a)	22,127
	192	C&F Financial Corp.	6,536
	1,643	Camco Financial Corp.(a)	3,565
	1,150	Cape Bancorp, Inc.	9,890
	1,604	Capital Bank Financial Corp., Class A(a)	27,685
	2,343	Capital Trust, Inc., Class A, REIT(a)	8,388
	2,725	Center Bancorp, Inc.	30,847
	5,078	Centerstate Banks, Inc.	39,913
	899	Central Valley Community Bancorp	7,848
	518	Century Bancorp, Inc., Class A	15,726
	928	CFS Bancorp, Inc.	5,624
	2,045	Chatham Lodging Trust, REIT	28,875
	880	Chicopee Bancorp, Inc.(a)	12,364
	852	CIFC Corp.(a)	5,828
	1,988	Citizens & Northern Corp.	35,784
	665	Citizens Holding Co.	12,569
	2,247	CNB Financial Corp.	35,615
	730	Codorus Valley Bancorp, Inc.(b)	10,808
	987	Colony Bankcorp, Inc.(a) (b)	3,760
	1,033	Consolidated-Tomoka Land Co.	32,663
	3,692	Crescent Financial Bancshares, Inc.(a) (b)	18,571
	449	Diamond Hill Investment Group, Inc.	35,933
	2,970	Eagle Bancorp, Inc.(a)	57,856
	1,206	Eastern Insurance Holdings, Inc.	20,309
	7,606	Eastern Virginia Bankshares, Inc.(a)	39,703
	996	Enterprise Bancorp, Inc.(b)	16,643
	2,425	Enterprise Financial Services Corp.	32,059
	2,183	ESB Financial Corp.	27,571
	672	Evans Bancorp, Inc.	10,759
	2,216	Farmers Capital Bank Corp.(a)	25,484
	1,245	Federal Agricultural Mortgage Corp., Class C	41,932
	2,167	Federated National Holding Co.	12,114
	1,174	Fidus Investment Corp.	19,958
	2,137	Financial Institutions, Inc.	39,770
	2,849	First Acceptance Corp.(a)	3,476
	1,700	First Bancorp, Inc.	25,415
	3,931	First California Financial Group, Inc.(a)	31,212
	1,001	First Citizens Banc Corp.	5,195
	2,936	First Connecticut Bancorp, Inc.	40,018
	1,316	First Defiance Financial Corp.	22,385
	2,814	First Federal Bancshares of Arkansas, Inc.(a) (b)	24,763
	5,691	First Financial Northwest, Inc.(a)	42,967
	1,628	First M&F Corp.	11,705
	668	First Pactrust Bancorp, Inc.(b)	7,882
	357	First Security Group, Inc.(a) (b)	966
	1,681	First South Bancorp, Inc.(a)	8,741
	1,465	First United Corp.(a)	11,530
	2,125	Firstbank Corp.	23,290
	497	Firstcity Financial Corp.(a)	4,056
	687	FNB Corp.	7,420
	3,451	FNB United Corp.(a) (b)	39,100
	1,220	Fortegra Financial Corp.(a)	10,687
	845	Fox Chase Bancorp, Inc.	13,216
	2,775	Franklin Financial Corp.	46,370
	2,148	German American Bancorp, Inc.(b)	46,397
	1,883	Gladstone Commercial Corp., REIT(b)	33,009
	5,592	Gramercy Capital Corp., REIT(a)	16,329
	2,937	GSV Capital Corp.(a) (b)	23,496
	12,486	Guaranty Bancorp(a)	23,099
	133	Gyrodyne Co. of America, Inc., REIT	15,095
	2,627	Hallmark Financial Services(a)	21,436
	951	Hampden Bancorp, Inc.	12,791
	335	Harleysville Savings Financial Corp.(b)	6,342
	4,408	Harris & Harris Group, Inc.(a)	14,238
	373	Hawthorn Bancshares, Inc.	2,891
	4,527	Heritage Commerce Corp.(a)	30,829
	2,732	Heritage Financial Corp.	38,057
	480	Heritage Financial Group, Inc.	6,307
	4,512	Heritage Oaks Bancorp(a)	24,320
	3,510	HF Financial Corp.	46,472
	866	HMN Financial, Inc.(a)	2,555
	398	Home Bancorp, Inc.(a)	7,271
	2,002	Home Federal Bancorp, Inc.	23,323
	1,256	Homeowners Choice, Inc.	26,137
	1,262	HomeStreet, Inc.(a)	31,058
	3,936	HopFed Bancorp, Inc.	33,692
	547	Horizon Bancorp	10,420
	1,298	IMPAC Mortgage Holdings, Inc., REIT(a) (b)	19,145
	2,892	Imperial Holdings, Inc.(a)	11,713
	17,699	Independent Bank Corp.(a)	68,141
	2,481	Intervest Bancshares Corp., Class A(a)	9,651
	197	Investors Title Co.	11,832
	509	JAVELIN Mortgage Investment Corp., REIT	9,406
	1,854	Life Partners Holdings, Inc.	4,394
	1,864	LNB Bancorp, Inc.	12,079
	2,091	Macatawa Bank Corp.(a)	6,231
	3,188	MainSource Financial Group, Inc.	38,447
	1,326	Manning & Napier, Inc.	16,588
	923	Marlin Business Services Corp.	15,968
	2,094	MBT Financial Corp.(a)	5,696
	1,788	Medallion Financial Corp.	21,134
	1,607	Mercantile Bancorp, Inc.(a)	402
	1,305	Mercantile Bank Corp.	18,896
	852	Merchants Bancshares, Inc.	23,660
	2,303	Metro Bancorp, Inc.(a)	29,524
	1,676	MetroCorp Bancshares, Inc.(a)	16,291
	1,522	MicroFinancial, Inc.	11,065
	831	Middleburg Financial Corp.	13,994
	1,429	MidSouth Bancorp, Inc.	20,578
	463	MidWestOne Financial Group, Inc.	9,519
	3,125	Mission West Properties, Inc., REIT	28,562
	918	Monarch Financial Holdings, Inc.	7,858
	456	Monmouth Real Estate Investment Corp., Class A, REIT	4,788
	10,043	MPG Office Trust, Inc., REIT(a)	28,522
	799	MutualFirst Financial, Inc.	9,284
	1,249	National Bankshares, Inc.(b)	38,994
	616	New Hampshire Thrift Bancshares, Inc.	7,718
	1,801	New Mountain Finance Corp.	27,339
	3,648	New York Mortgage Trust, Inc., REIT(b)	24,478
	935	NewBridge Bancorp(a)	4,292
	1,389	Nicholas Financial, Inc. (Canada)	17,710
	379	North Valley Bancorp(a)	5,420
	327	Northrim BanCorp, Inc.	7,263
	383	Norwood Financial Corp.	11,569
	2,402	OceanFirst Financial Corp.	32,931
	1,036	Old Point Financial Corp.	11,386
	3,441	Old Second Bancorp, Inc.(a) (b)	4,060
	1,358	OmniAmerican Bancorp, Inc.(a)	30,881
	2,275	One Liberty Properties, Inc., REIT	44,385
	1,191	Oneida Financial Corp.(b)	13,101
	1,872	Oppenheimer Holdings, Inc., Class A	30,158
	2,422	Pacific Continental Corp.	21,968
	1,163	Pacific Mercantile Bancorp(a) (b)	7,164
	1,605	Pacific Premier Bancorp, Inc.(a)	16,756
	94	Park Sterling Corp.(a)	494
	2,451	Patriot National Bancorp, Inc.(a)	2,819
	1,043	Peapack Gladstone Financial Corp.	14,435
	808	Penns Woods Bancorp, Inc.	31,148
	1,212	Peoples Bancorp, Inc.	24,482
	831	Peoples Financial Corp.	7,620
	1,052	PMC Commercial Trust, REIT	7,396
	791	Porter Bancorp, Inc.(a)	751
	968	Preferred Apartment Communities, Inc., Class A, REIT(b)	7,560
	2,183	Preferred Bank(a)	29,580
	3,435	Princeton National Bancorp, Inc.(a)	137
	1,184	Provident Financial Holdings, Inc.	18,885
	1,405	Pulaski Financial Corp.(b)	12,420
	2,804	PVF Capital Corp.(a)	6,393
	764	QCR Holdings, Inc.	10,673
	12,467	Republic First Bancorp, Inc.(a)	26,056
	2,503	Riverview Bancorp, Inc.(a)	4,781
	1,328	Rurban Financial Corp.(a)	9,070
	14,395	Seacoast Banking Corp. of Florida(a)	22,456
	1,184	Shore Bancshares, Inc.	6,370
	2,366	Sierra Bancorp	24,867
	647	Simplicity Bancorp, Inc.	9,142
	489	Southern National Bancorp of Virginia, Inc.	3,971
	1,963	Southwest Bancorp, Inc.(a)	21,397
	1,302	Suffolk Bancorp(a)	16,236
	1,990	Summit Financial Group, Inc.(a)	9,811
	6,269	Summit Hotel Properties, Inc., REIT	55,042
	9,308	Sun Bancorp, Inc.(a)	30,437
	332	Teche Holding Co.	12,948
	1,812	Territorial Bancorp, Inc.	41,223
	4,186	Thomas Properties Group, Inc.	22,814
	1,119	Timberland Bancorp, Inc.(a)	6,971
	2,768	UMH Properties, Inc., REIT	28,040
	623	United Financial Bancorp, Inc.	9,688
	1,325	United Security Bancshares(a)	3,577
	1,225	United Security Bancshares, Inc.(a)	6,088
	665	Unity Bancorp, Inc.(a)	4,050
	4,437	Universal Insurance Holdings, Inc.	20,366
	4,205	US Global Investors, Inc., Class A	23,296
	4,193	Virginia Commerce Bancorp, Inc.(a)	36,353
	2,148	Walker & Dunlop, Inc.(a)	35,335
	2,446	Washington Banking Co.	32,776
	928	Waterstone Financial, Inc.(a)	5,150
	2,718	West Bancorporation, Inc.	27,452
	253	West Coast Bancorp	5,518
	402	White River Capital, Inc.(a)	8,482
	2,254	Whitestone REIT, Class B, REIT	31,669
	2,818	Yadkin Valley Financial Corp.(a)	8,482
	3,809	ZipRealty, Inc.(a)	11,732
			3,934,530
		Industrial - 10.1%
	31,298	A123 Systems, Inc.(a)	2,535
	19,452	Active Power, Inc.(a)	14,589
	1,492	ADA-ES, Inc.(a) (b)	24,394
	504	Air T, Inc.	4,219
	4,735	API Technologies Corp.(a)	12,453
	390	Argan, Inc.	7,258
	2,228	Arotech Corp.(a)	2,451
	681	Art's-Way Manufacturing Co., Inc.	3,718
	2,797	Ballantyne Strong, Inc.(a)	8,895
	545	Breeze-Eastern Corp.(a) (b)	4,496
	2,653	Broadwind Energy, Inc.(a)	6,102
	4,620	Casella Waste Systems, Inc., Class A(a)	20,420
	1,309	Ceco Environmental Corp.	12,200
	1,078	Chase Corp.	18,596
	394	Chicago Rivet & Machine Co.(b)	7,959
	2,204	Clean Diesel Technologies, Inc.(a) (b)	5,113
	2,514	Coleman Cable, Inc.	23,204
	958	Core Molding Technologies, Inc.(a)	6,562
	2,083	Covenant Transportation Group, Inc., Class A(a)	10,686
	1,103	CPI Aerostructures, Inc.(a)	10,490
	1,748	CUI Global, Inc.(a)	9,929
	570	CVD Equipment Corp.(a) (b)	5,039
	817	DHT Holdings, Inc. (Marshall Islands)(b)	3,031
	397	Digital Ally, Inc.(a) (b)	1,767
	3,275	DRI Corp.(a)	5
	2,546	Eagle Bulk Shipping, Inc. (Marshall Islands)(a)	5,678
	744	Eastern Co.	10,989
	225	Ecology and Environment, Inc., Class A	2,495
	866	EDAC Technologies Corp.(a) (b)	11,596
	2,413	Engility Holdings, Inc.(a)	44,303
	2,003	ENGlobal Corp.(a)	941
	407	Espey Manufacturing & Electronics Corp.	10,932
	8,406	Flow International Corp.(a)	26,479
	681	Frequency Electronics, Inc.(a)	5,795
	1,363	Frozen Food Express Industries(a)	1,336
	1,059	Gencor Industries, Inc.(a)	8,207
	1,579	Giga-tronics, Inc.(a)	2,211
	4,658	Goldfield Corp.(a)	8,524
	1,024	GSE Holding, Inc.(a)	7,178
	1,731	Hardinge, Inc.	16,600
	944	Heritage-Crystal Clean, Inc.(a)	14,141
	2,725	Hudson Technologies, Inc.(a)	8,829
	806	Hurco Cos., Inc.(a)	19,352
	15,786	Identive Group, Inc.(a)	21,785
	1,828	IEC Electronics Corp.(a)	12,412
	681	Image Sensing Systems, Inc.(a)	3,507
	644	Innovative Solutions & Support, Inc.(a)	2,756
	1,884	Insignia Systems, Inc.(a)	3,203
	2,390	Insteel Industries, Inc.	28,584
	2,451	Integrated Electrical Services, Inc.(a) (b)	11,152
	2,785	Intellicheck Mobilisa, Inc.(a)	1,977
	838	IntriCon Corp.(a)	3,897
	2,482	Iteris, Inc.(a)	4,145
	1,643	Kadant, Inc.(a)	39,843
	7,078	Kratos Defense & Security Solutions, Inc.(a)	31,497
	1,669	Lawson Products, Inc.	13,819
	2,167	Lime Energy Co.(a)	1,127
	1,735	LMI Aerospace, Inc.(a)	34,422
	3,112	LoJack Corp.(a)	7,687
	3,420	LRAD Corp.(a)	3,591
	417	LS Starrett Co., Class A	4,258
	3,721	LSI Industries, Inc.	25,377
	2,514	Lydall, Inc.(a)	32,908
	765	Magnetek, Inc.(a)	7,948
	2,317	Manitex International, Inc.(a)	17,656
	1,690	Meade Instruments Corp.(a)	2,873
	2,060	MEMSIC, Inc.(a)	6,633
	441	Mesa Laboratories, Inc.	20,890
	2,648	Met-Pro Corp.	23,594
	914	Mfri, Inc.(a)	4,661
	4,993	Microvision, Inc.(a) (b)	12,782
	674	MOCON, Inc.	9,888
	2,629	Nanophase Technologies Corp.(a)	762
	1,963	NAPCO Security Technologies, Inc.(a)	6,615
	3,075	NCI Building Systems, Inc.(a)	40,252
	2,431	NN, Inc.(a)	19,740
	237	Omega Flex, Inc.	3,069
	1,105	Orbit International Corp.(a)	3,624
	4,674	Orion Energy Systems, Inc.(a)	6,871
	1,408	Park-Ohio Holdings Corp.(a)	29,470
	1,643	Patrick Industries, Inc.(a)	28,555
	5,341	Perma-Fix Environmental Services(a)	4,167
	3,128	PGT, Inc.(a)	13,732
	1,939	PMFG, Inc.(a)	13,437
	2,242	PowerSecure International, Inc.(a)	14,461
	2,019	Pro-Dex, Inc.(a)	4,018
	279	Providence and Worcester Railroad Co.	3,834
	14,302	Pulse Electronics Corp.(a)	4,577
	2,496	Pure Cycle Corp.(a)	6,315
	2,148	Rand Logistics, Inc.(a)	13,790
	4,181	Research Frontiers, Inc.(a) (b)	15,135
	16,027	Revolution Lighting Technologies, Inc.(a)	7,372
	3,770	Satcon Technology Corp.(a)	305
	327	SIFCO Industries, Inc.	5,006
	450	SL Industries, Inc.	8,820
	937	Sparton Corp.(a)	13,474
	4,228	Stoneridge, Inc.(a)	20,844
	2,026	Superconductor Technologies, Inc.(a)	546
	438	Sutron Corp.(a)	2,273
	899	Synalloy Corp.	11,930
	1,417	Sypris Solutions, Inc.	5,781
	3,742	TRC Cos., Inc.(a)	19,982
	939	UFP Technologies, Inc.(a)	15,616
	3,540	Ultralife Corp.(a)	9,735
	1,057	Universal Power Group, Inc.(a)	1,712
	9,399	UQM Technologies, Inc.(a)	8,647
	623	USA Truck, Inc.(a)	2,031
	845	Video Display Corp.(a)	3,067
	609	VSE Corp.	14,019
	1,470	Wells-Gardner Electronics Corp.(a)	2,646
	713	Williams Controls, Inc.	10,995
	1,312	Willis Lease Finance Corp.(a)	18,801
	942	WSI Industries, Inc.	6,632
	3,171	XPO Logistics, Inc.(a) (b)	50,324
	1,657	YRC Worldwide, Inc.(a) (b)	11,632
			1,311,183
		Technology - 7.7%
	2,761	Acorn Energy, Inc.(b)	22,475
	3,477	American Software, Inc., Class A	28,059
	1,563	Amtech Systems, Inc.(a)	5,064
	344	Analysts International Corp.(a)	1,111
	458	Astro-Med, Inc.	4,122
	1,417	Asure Software, Inc.(a)	7,949
	408	Audience, Inc.(a) (b)	3,529
	15,695	Axcelis Technologies, Inc.(a)	15,538
	4,895	AXT, Inc.(a)	13,804
	1,850	Bsquare Corp.(a)	5,421
	5,232	Callidus Software, Inc.(a)	22,027
	1,824	Cascade Microtech, Inc.(a)	10,251
	2,172	Computer Task Group, Inc.(a)	39,617
	1,500	Concurrent Computer Corp.	7,920
	1,272	CSP, Inc.	6,869
	1,257	Daegis, Inc.(a)	1,508
	942	Data I/O Corp.(a)	1,554
	2,235	Datalink Corp.(a)	19,310
	2,139	Dataram Corp.(a)	943
	623	Datawatch Corp.(a)	9,395
	1,124	Digimarc Corp.	20,873
	8,737	Dot Hill Systems Corp.(a)	7,776
	1,071	Dynamics Research Corp.(a)	5,655
	687	E2open, Inc.(a)	9,694
	2,055	eMagin Corp.(a)	6,884
	2,706	Emcore Corp.(a) (b)	12,637
	2,059	Eon Communications Corp.(a)	1,627
	1,050	Evolving Systems, Inc.	6,972
	926	Exa Corp.(a)	11,510
	704	Geeknet, Inc.(a)	12,060
	1,934	GigOptix, Inc.(a)	3,926
	9,291	Glu Mobile, Inc.(a) (b)	26,572
	2,444	GSE Systems, Inc.(a)	4,717
	3,752	GSI Technology, Inc.(a)	21,161
	1,981	Guidance Software, Inc.(a)	22,088
	2,383	Hutchinson Technology, Inc.(a)	3,813
	381	Icad, Inc.(a)	1,372
	3,083	Immersion Corp.(a)	20,255
	6,923	inContact, Inc.(a)	36,000
	4,453	Innodata, Inc.(a)	16,476
	3,749	Integrated Silicon Solution, Inc.(a)	32,841
	2,326	Intermolecular, Inc.(a)	16,282
	2,272	Interphase Corp.(a)	4,817
	2,263	inTEST Corp.	5,454
	84	j2 Global, Inc.	2,540
	1,587	Key Tronic Corp.(a)	16,092
	7,106	Majesco Entertainment Co.(a)	6,538
	3,381	Market Leader, Inc.(a)	22,484
	1,184	Mattersight Corp.(a)	6,050
	10,590	Mattson Technology, Inc.(a)	9,002
	6,122	Mindspeed Technologies, Inc.(a)	22,223
	3,420	Mitek Systems, Inc.(a) (b)	8,140
	6,482	MoSys, Inc.(a)	20,742
	139,210	NeoMedia Technologies, Inc.(a)	626
	3,378	Netlist, Inc.(a)	2,642
	1,971	NetSol Technologies, Inc.(a)	12,890
	8,352	OCZ Technology Group, Inc.(a) (b)	13,948
	1,535	Official Payments Holdings, Inc.(a)	7,813
	2,444	Overland Storage, Inc.(a)	2,688
	1,377	PAR Technology Corp.(a)	6,913
	3,217	PDF Solutions, Inc.(a)	44,652
	2,683	Pervasive Software, Inc.(a)	23,610
	3,339	Pixelworks, Inc.(a)	7,680
	2,849	Planar Systems, Inc.(a)	3,732
	6,848	PLX Technology, Inc.(a)	31,432
	1,447	Qualstar Corp.(a)	2,076
	6,512	QuickLogic Corp.(a) (b)	13,415
	3,918	RadiSys Corp.(a)	8,816
	2,011	Rainmaker Systems, Inc.(a)	1,548
	2,817	Richardson Electronics Ltd.	30,846
	1,528	Rimage Corp.(a)	10,497
	1,080	Scientific Learning Corp.(a)	616
	1,963	Simulations Plus, Inc.(b)	8,932
	1,607	SmartPros Ltd.	2,346
	4,044	Smith Micro Software, Inc.(a)	5,015
	3,218	Streamline Health Solutions, Inc.(a)	16,991
	1,344	THQ, Inc.(a) (b)	1,949
	489	Transact Technologies, Inc.	3,760
	5,463	Transwitch Corp.(a)	3,966
	4,066	Ultra Clean Holdings(a)	19,598
	7,371	USA Technologies, Inc.(a)	12,899
	845	Versant Corp.(a)	10,833
	3,794	Vitesse Semiconductor Corp.(a)	8,271
	16,740	Wave Systems Corp., Class A(a)	10,546
	574	Wayside Technology Group, Inc.	6,400
	3,146	Wireless Ronin Technologies, Inc.(a)	1,941
	1,300	XRS Corp.(a)	878
			992,504
		Utilities - 0.9%
	1,177	Artesian Resources Corp., Class A	24,446
	1,066	Delta Natural Gas Co., Inc.	21,725
	993	Gas Natural, Inc.	9,454
	696	RGC Resources, Inc.	12,479
	17,802	US Geothermal, Inc.(a)	6,231
	2,275	York Water Co.	39,653
			113,988
		Total Common Stocks - 98.6%
		(Cost $14,416,024)	12,732,402
		Exchange Traded Fund - 0.7%
	1,630	iShares Russell Microcap Index Fund	83,309
		(Cost $82,201)
		Master Limited Partnership - 0.3%
		Energy - 0.3%
	1,847	Northern Tier Energy, LP	43,035
		(Cost $38,538)
		Warrant - 0.0%*
		Consumer, Non-cyclical - 0.0%*
	314	Photomedex, Inc.,12/13/2014(a) (c)	756
		(Cost $0)
		Total Long-Term Investments - 99.6%
		(Cost $14,536,763)	12,859,502
		Investments of Collateral for Securities Loaned - 12.5%
	1,622,796	BNY Mellon Securities Lending Overnight Fund, 0.2159%(d) (e)	1,622,796
		(Cost $1,622,796)
		Total Investments - 112.1%
		(Cost $16,159,559)	14,482,298
		Liabilities in excess of Other Assets - (12.1%)	(1,567,841)
		Net Assets  - 100.0%	$                12,914,457

AG - Stock Corporation
LP - Limited Partnership
PLC - Public Limited Company
REIT - Real Estate Investment Trust
*	Less than 0.1%
(a)	Non-income producing security.
(b)	Security, or portion thereof, was on loan at November 30, 2012.
(c)	Security is valued based on observable and/or unobservable inputs in accordance with Fair Valuation procedures established in good faith by management and approved by the Board of Trustees. The total market value of such securities is $756 which represents less than 0.1% of net assets.
(d)	At November 30, 2012, the total market value of the Fund's securities on loan was $1,552,298 and the total market value of the collateral held by the Fund was $1,622,796.
(e)	Interest rate shown reflects yield as of November 30, 2012.
	Securities are classified by sectors that represent broad groupings of related industries.

Country Allocation**
United States	99.1%
Canada	0.5%
Bermuda	0.2%
Israel	0.1%
Marshall Islands	0.1%
** Subject to change daily. Based on long-term investments.

See previously submitted notes to financial statements for the period ended August 31, 2012.

 

At November 30, 2012, the cost and related gross unrealized appreciation and depreciation on investments for tax purposes are as follows:

Cost of Investments	Gross Tax Unrealized	Gross Tax Unrealized	Net Tax Unrealized
for Tax Purposes	Appreciation	Depreciation	Depreciation on Investments
$ 16,196,029	$ 1,528,569	$(3,242,300)	$ (1,713,731)

Securities listed on an exchange are valued at the last reported sale price on the principal exchange or on the principal over-the-counter market on which such securities are traded, as of the close of regular trading on the New York Stock Exchange (“NYSE”) on the day the securities are being valued or, if there are no sales, at the mean of the most recent bid and asked prices. Equity securities that are traded primarily on the NASDAQ Stock Market are valued at the NASDAQ Official Closing Price. Debt securities are valued at the mean of the last available bid and ask prices for such securities or, if such prices are not available, at prices for securities of comparable maturity, quality and type. If sufficient market activity is limited or does not exist, the pricing providers or broker-dealers may utilize proprietary valuation models which consider market characteristics such as benchmark yield curves, option-adjusted spreads, credit spreads, estimated default rates, coupon rates, anticipated timing of principal repayments, underlying collateral, or other unique security features in order to estimate relevant cash flows, which are then discounted to calculate a security’s fair value. Short-term securities with maturities of 60 days or less at time of purchase are valued at amortized cost, which approximates market value. Money market funds are valued at net asset value.

For those securities where quotations or prices are not available, the valuations are determined in accordance with procedures established in good faith by management and approved by the Board of Trustees of the Trust (“Board of Trustees”). Valuations in accordance with these procedures are intended to reflect each security’s (or asset’s) “fair value.” Fair value is defined as the price that the Fund would receive to sell an investment or pay to transfer a liability in an orderly transaction with an independent buyer in the principal market, or in the absence of a principal market, the most advantageous market for the investment or liability. Each such determination is based on a consideration of all relevant factors, which are likely to vary from one pricing context to another. Examples of such factors may include, but are not limited to: (i) the type of security, (ii) the initial cost of the security, (iii) the existence of any contractual restrictions on the security’s disposition, (iv) the price and extent of public trading in similar securities of the issuer or of comparable companies, (v) quotations or evaluated prices from broker-dealers and/or pricing services, (vi) information obtained from the issuer, analysts, and/or the appropriate stock exchange (for exchange-traded securities), (vii) an analysis of the company’s financial statements, and (viii) an evaluation of the forces that influence the issuer and the market(s) in which the security is purchased and sold (e.g. the existence of pending merger activity, public offerings or tender offers that might affect the value of the security).

There are three different categories for valuations. Level 1 valuations are those based upon quoted prices in active markets. Level 2 valuations are those based upon quoted prices in inactive markets or based upon significant observable inputs (e.g. yield curves; benchmark interest rates; indices). Level 3 valuations are those based upon unobservable inputs (e.g. discounted cash flow analysis; non-market based methods used to determine fair valuation).

The Fund values Level 1 securities using readily available market quotations in active markets. The Fund values Level 2 fixed income securities using independent pricing providers who employ matrix pricing models utilizing market prices, broker quotes and prices of securities with comparable maturities and qualities. The Fund values Level 2 equity securities using various observable market inputs. The Fund did not have any Level 3 securities at November 30, 2012.

The following table represents the Funds’ investments carried by caption and by level within the fair value hierarchy as of November 30, 2012:

Description	Level 1		Level 2		Level 3		Total
(value in $000s)
Assets:
Common Stocks	$	12,732	$	-	$	-	$	12,732
Exchange Traded Funds		83		-	-			83
Master Limited Partnership		43		-	-			43
Warrant		-		1	-			1
Investments of Collateral for Securities Loaned		1,623		-	-			1,623
Total	$	14,481	$	1	$	-	$	14,482

During the three months ended November 30, 2012, there were no transfers between levels.

The following table presents the activity of the Fund’s investments measured at fair value using significant unobservable inputs (Level 3 valuations) for the year ended November 30, 2012.

Level 3 Holdings
Beginning Balance at 8/31/12	$	-	†
Net Realized Gain/Loss		1
Change in Unrealized Gain/Loss		-
Purchases		-
Sales		(1	)
Transfers In		-
Transfers Out		-
Ending Balance at 11/30/12	$	-

† Market value is less than minimum amount disclosed.

WREI Wilshire US REIT ETF
Portfolio of Investments
November 30, 2012 (unaudited)
	Number
	of Shares	Description	Value
		Long-Term Investments - 100.0%
		Common Stocks - 100.0%
		Financial - 100.0%
	1,948	Acadia Realty Trust, REIT	$48,349
	116	Alexander's, Inc., REIT	51,388
	2,560	Alexandria Real Estate Equities, Inc., REIT	173,875
	1,453	American Assets Trust, Inc., REIT	39,565
	4,419	American Campus Communities, Inc., REIT	193,552
	6,216	Apartment Investment & Management Co., Class A, REIT	155,835
	2,931	Ashford Hospitality Trust, Inc., REIT	26,526
	2,114	Associated Estates Realty Corp., REIT	31,985
	4,810	AvalonBay Communities, Inc., REIT	633,910
	6,591	BioMed Realty Trust, Inc., REIT	127,009
	6,462	Boston Properties, Inc., REIT	663,195
	6,063	Brandywine Realty Trust, REIT	72,332
	3,297	BRE Properties, Inc., REIT	160,399
	3,588	Camden Property Trust, REIT	235,732
	1,662	Campus Crest Communities, Inc., REIT	19,013
	6,433	CBL & Associates Properties, Inc., REIT	144,807
	2,422	Cedar Realty Trust, Inc., REIT	13,127
	1,296	Chesapeake Lodging Trust, REIT	24,455
	3,760	Colonial Properties Trust, REIT	76,704
	3,601	CommonWealth REIT, REIT	54,483
	902	Coresite Realty Corp., REIT	23,091
	3,349	Corporate Office Properties Trust, REIT	82,653
	4,122	Cousins Properties, Inc., REIT	33,842
	5,299	CubeSmart, REIT	73,126
	11,387	DCT Industrial Trust, Inc., REIT	71,169
	10,444	DDR Corp., REIT	159,898
	8,308	DiamondRock Hospitality Co., REIT	72,612
	5,236	Digital Realty Trust, Inc., REIT	337,931
	5,490	Douglas Emmett, Inc., REIT	124,678
	11,576	Duke Realty Corp., REIT	156,276
	2,722	DuPont Fabros Technology, Inc., REIT	62,851
	1,246	EastGroup Properties, Inc., REIT	65,141
	4,868	Education Realty Trust, Inc., REIT	50,189
	1,767	Equity Lifestyle Properties, Inc., REIT	115,986
	2,740	Equity One, Inc., REIT	56,636
	12,902	Equity Residential, REIT	716,190
	1,563	Essex Property Trust, Inc., REIT	219,586
	1,862	Excel Trust, Inc., REIT	22,158
	4,448	Extra Space Storage, Inc., REIT	156,347
	2,752	Federal Realty Investment Trust, REIT	286,318
	4,915	FelCor Lodging Trust, Inc., REIT(a)	20,643
	3,974	First Industrial Realty Trust, Inc., REIT(a)	52,457
	2,196	First Potomac Realty Trust, REIT	25,759
	3,317	Franklin Street Properties Corp., REIT	38,311
	17,721	General Growth Properties, Inc., REIT	343,256
	6,026	Glimcher Realty Trust, REIT	64,599
	1,925	Government Properties Income Trust, REIT(b)	44,371
	18,411	HCP, Inc., REIT	829,416
	10,935	Health Care REIT, Inc., REIT	643,962
	3,692	Healthcare Realty Trust, Inc., REIT	88,054
	1,840	Healthcare Trust of America, Inc., REIT	19,817
	7,769	Hersha Hospitality Trust, REIT	36,437
	3,151	Highwoods Properties, Inc., REIT	101,588
	2,131	Home Properties, Inc., REIT	125,495
	5,277	Hospitality Properties Trust, REIT	119,788
	31,016	Host Hotels & Resorts, Inc., REIT	455,625
	1,697	Hudson Pacific Properties, Inc., REIT	32,871
	3,837	Inland Real Estate Corp., REIT	30,581
	3,944	Investors Real Estate Trust, REIT	33,485
	3,126	Kilroy Realty Corp., REIT	140,983
	16,420	Kimco Realty Corp., REIT	316,249
	3,271	Kite Realty Group Trust, REIT	17,467
	3,684	LaSalle Hotel Properties, REIT	88,821
	5,046	Liberty Property Trust, REIT	175,752
	5,714	Macerich Co., REIT	322,841
	3,751	Mack-Cali Realty Corp., REIT	94,825
	1,755	MID-America Apartment Communities, Inc., REIT	109,372
	1,624	Monmouth Real Estate Investment Corp., Class A, REIT	17,052
	981	National Health Investors, Inc., REIT	54,445
	1,760	Parkway Properties, Inc., REIT	23,654
	2,535	Pebblebrook Hotel Trust, REIT	52,855
	2,408	Pennsylvania Real Estate Investment Trust, REIT	40,117
	7,213	Piedmont Office Realty Trust, Inc., Class A, REIT	127,309
	2,315	Post Properties, Inc., REIT	113,736
	19,746	ProLogis, Inc., REIT	670,179
	792	PS Business Parks, Inc., REIT	51,076
	6,913	Public Storage, REIT	972,244
	1,997	Ramco-Gershenson Properties Trust, REIT	26,720
	3,861	Regency Centers Corp., REIT	180,888
	1,414	Retail Properties of America, Inc., Class A, REIT	17,364
	3,598	RLJ Lodging Trust, REIT	66,887
	1,295	Rouse Properties, Inc., REIT(b)	19,425
	1,593	Sabra Health Care REIT, Inc., REIT	34,568
	530	Saul Centers, Inc., REIT	22,578
	7,575	Senior Housing Properties Trust, REIT	169,301
	13,002	Simon Property Group, Inc., REIT	1,977,994
	3,870	SL Green Realty Corp., REIT	291,721
	1,266	Sovran Self Storage, Inc., REIT	78,226
	7,380	Strategic Hotels & Resorts, Inc., REIT(a)	45,977
	1,844	Summit Hotel Properties, Inc., REIT	16,190
	1,227	Sun Communities, Inc., REIT	47,362
	5,882	Sunstone Hotel Investors, Inc., REIT(a)	60,702
	3,729	Tanger Factory Outlet Centers, REIT	122,610
	2,474	Taubman Centers, Inc., REIT	191,661
	428	Terreno Realty Corp., REIT	6,399
	10,740	UDR, Inc., REIT	247,127
	513	Universal Health Realty Income Trust, REIT	25,004
	1,282	Urstadt Biddle Properties, Inc., Class A, REIT	24,089
	12,661	Ventas, Inc., REIT	805,873
	7,965	Vornado Realty Trust, REIT	608,765
	2,832	Washington Real Estate Investment Trust, REIT	73,405
	5,179	Weingarten Realty Investors, REIT	140,765
		(Cost $17,231,754)	17,630,012
		Investments of Collateral for Securities Loaned - 0.3%
	62,535	BNY Mellon Securities Lending Overnight Fund, 0.2159%(c) (d)	62,535
		(Cost $62,535)
		Total Investments - 100.3%
		(Cost $17,294,289)	17,692,547
		Liabilities in excess of Other Assets - (0.3%)	(60,915)
		Net Assets  - 100.0%	$       17,631,632

	REIT - Real Estate Investment Trust
(a)	Non-income producing security.
(b)	Security, or portion thereof, was on loan at November 30, 2012.
(c)	At November 30, 2012, the total market value of the Fund's securities on loan was $60,893 and the total market value of the collateral held by the Fund was $62,535.
(d)	Interest rate shown reflects yield as of November 30, 2012.
	Securities are classified by sectors that represent broad groupings of related industries.
	See previously submitted notes to financial statements for the period ended August 31, 2012.

Country Allocation*
United States	100.0%
* Subject to change daily. Based on long-term investments.

At November 30, 2012, the cost and related gross unrealized appreciation and depreciation on investments for tax purposes are as follows:

Cost of Investments for Tax Purposes		Gross Tax Unrealized Appreciation		Gross Tax Unrealized Depreciation		Net Tax Unrealized Appreciation on Investments
$	17,219,601	$	938,070	$	(465,124)	$	472,946

Securities listed on an exchange are valued at the last reported sale price on the principal exchange or on the principal over-the-counter market on which such securities are traded, as of the close of regular trading on the New York Stock Exchange ("NYSE") on the day the securities are being valued or, if there are no sales, at the mean of the most recent bid and asked prices. Equity securities that are traded primarily on the NASDAQ Stock Market are valued at the NASDAQ Official Closing Price. Debt securities are valued at the mean of the last available bid and ask prices for such securities or, if such prices are not available, at prices for securities of comparable maturity, quality and type. If sufficient market activity is limited or does not exist, the pricing providers or broker-dealers may utilize proprietary valuation models which consider market characteristics such as benchmark yield curves, option-adjusted spreads, credit spreads, estimated default rates, coupon rates, anticipated timing of principal repayments, underlying collateral, or other unique security features in order to estimate relevant cash flows, which are then discounted to calculate a security's fair value. Short-term securities with maturities of 60 days or less at time of purchase are valued at amortized cost, which approximates market value. Money market funds are valued at net asset value.

For those securities where quotations or prices are not available, the valuations are determined in accordance with procedures established in good faith by management and approved by the Board of Trustees of the Trust (“Board of Trustees”). Valuations in accordance with these procedures are intended to reflect each security’s (or asset’s) “fair value.” Fair value is defined as the price that the Fund would receive to sell an investment or pay to transfer a liability in an orderly transaction with an independent buyer in the principal market, or in the absence of a principal market, the most advantageous market for the investment or liability. Each such determination is based on a consideration of all relevant factors, which are likely to vary from one pricing context to another. Examples of such factors may include, but are not limited to: (i) the type of security, (ii) the initial cost of the security, (iii) the existence of any contractual restrictions on the security’s disposition, (iv) the price and extent of public trading in similar securities of the issuer or of comparable companies, (v) quotations or evaluated prices from broker-dealers and/or pricing services, (vi) information obtained from the issuer, analysts, and/or the appropriate stock exchange (for exchange-traded securities), (vii) an analysis of the company’s financial statements, and (viii) an evaluation of the forces that influence the issuer and the market(s) in which the security is purchased and sold (e.g. the existence of pending merger activity, public offerings or tender offers that might affect the value of the security).

There are three different categories for valuations.  Level 1 valuations are those based upon quoted prices in active markets. Level 2 valuations are those based upon quoted prices in inactive markets or based upon significant observable inputs (e.g. yield curves; benchmark interest rates; indices).  Level 3 valuations are those based upon unobservable inputs (e.g. discounted cash flow analysis; non-market based methods used to determine fair valuation).

The Fund values Level 1 securities using readily available market quotations in active markets.  The Fund values Level 2 fixed income securities using independent pricing providers who employ matrix pricing models utilizing market prices, broker quotes and prices of securities with comparable maturities and qualities.  The Fund values Level 2 equity securities using various observable market inputs. The Fund did not have any Level 3 securities at November 30, 2012.

The following table represents the Fund's investments carried by caption and by level within the fair value hierarchy as of November 30, 2012.

Description	Level 1		Level 2		Level 3		Total
(value in $000s)
Assets:
Common Stocks	$	17,630	$	-	$	-	$	17,630
Investments of Collateral for Securities Loaned		63		-		-		63
Total	$	17,693	$	-	$	-	$	17,693

During the three months ended November 30, 2012, there were no transfers between levels.

Item 2.     Controls and Procedures.

(a) The registrant’s principal executive officer and principal financial officer have evaluated the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the “Investment Company Act”)) as of a date within 90 days of the filing date of this report and have concluded, based on such evaluation, that the registrant’s disclosure controls and procedures were effective, as of that date, in ensuring that information required to be disclosed by the registrant in this Form N-Q was recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission’s rules and forms.

(b) There was no change in the registrant’s internal controls over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act) that occurred during the registrant’s last fiscal quarter that has materially affected or is reasonably likely to materially affect the registrant’s internal control over financial reporting.

Item 3.     Exhibits.

 A separate certification for each principal executive officer and principal financial officer of the registrant as required by Rule 30a-2(a) under the Investment Company Act of 1940 (17 CFR 270.30a-2(a)), is 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.

Claymore Exchange-Traded Fund Trust

By: /s/Donald C. Cacciapaglia

Donald C. Cacciapaglia

Chief Executive Officer

Date: January 29, 2013

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:  /s/Donald C. Cacciapaglia

Donald C. Cacciapaglia

Chief Executive Officer

Date: January 29, 2013

By: /s/John Sullivan

John Sullivan

Chief Financial Officer, Chief Accounting Officer and Treasurer

Date: January 29, 2013