N-CSRS 1 gug56833-ncsr.htm ETF gug56833-ncsr.htm
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
FORM N-CSR
 
CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT
INVESTMENT COMPANIES
 
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)
 
Amy J. Lee
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 - February 28, 2013
 

 
 
 
 
 
Item 1.  Reports to Stockholders.
 
The registrant's annual report transmitted to shareholders pursuant to Rule 30e-1 under the Investment Company Act of 1940, as amended (the “Investment Company Act”), is as follows:
 
Fund Overview
 
The Wilshire 4500 Completion ETF, NYSE Arca ticker: WXSP (the “Fund”) seeks investment results that correspond generally to the performance, before the Fund’s fees and expenses, of an equity index called the Wilshire 4500 Completion Index SM (the “Wilshire 4500 SM” or the “Index”).
 
On February 15, 2013, the Board of Trustees of the Claymore Exchange-Traded Fund Trust approved the closing and subsequent liquidation of the Fund. The last day of trading of Fund Shares on the NYSE Arca, Inc. was March 15, 2013.
 
The Wilshire 4500 is a rules-based index comprised of, as of February 28, 2013, approximately 3,086 securities, including common stocks, real estate investment trusts (“REITs”) and business development companies (“BDCs”). The Index may include securities of companies of all categories of market capitalizations (subject to certain minimum requirements), as defined by Wilshire Associates Incorporated (the “Index Provider”). The Wilshire 4500 is a subset of the Wilshire 5000 Total Market IndexSM (the “Wilshire 5000 SM”). Designed to represent the extended market, the Wilshire 4500 is comprised of the Wilshire 5000 securities with the components of the S&P 500 Index® excluded.
 
The Fund invested at least 80% of its total assets in equity securities that comprise the Wilshire 4500.   The Fund used a sampling approach in seeking to achieve its investment objective. Sampling means that the Investment Adviser and Investment Sub-Adviser used quantitative analysis to select securities from the Index universe to obtain a representative sample of securities that resemble the Index in terms of key risk factors, performance attributes and other characteristics.
 
Fund Performance
 
All Fund returns cited—whether based on net asset value (“NAV”) or market price—assume the reinvestment of all distributions. This report discusses the semiannual fiscal period ended February 28, 2013.
 
On a market price basis, the Fund generated a total return of 15.19%, which included an increase in market price over the period to $35.58 on February 28, 2013, from $31.43 as of August 31, 2012. On an NAV basis, the Fund generated a total return of 14.40%, which included an increase in NAV over
 
 
 
 
 
the period to $35.42 on February 28, 2013, from $31.50 as of August 31, 2012. At the end of the period the Fund’s shares were trading at a market price premium to NAV, which is to be expected from time to time.
 
For underlying index and domestic market comparison purposes, the Wilshire 4500 returned 14.11% and the S&P 500 Index returned 8.95% for the same period.
 
The Fund made an annual income distribution of $0.5700 per share on December 31, 2012, to shareholders of record on December 27, 2012.
 
Performance Attribution
 
For the six-month period ended February 28, 2013, the financial sector contributed most significantly to the Fund’s return, followed by the industrial sector. No sector detracted from return, but the utilities sector contributed least to return.
 
Positions that contributed most significantly to the Fund’s return included Las Vegas Sands Corp., which owns and operates casino resorts and convention centers; General Motors Co., the manufacturer and marketer of new cars and trucks; and Facebook, Inc., operator of a social networking website (0.7%, 0.7% and 1.0%, respectively, of the Fund’s long-term investments at period end). Positions that detracted most significantly from the Fund’s return included Skyworks Solutions, Inc., a wireless semiconductor company that designs and manufactures radio frequency and complete semiconductor system solutions for mobile communications applications; Royal Gold, Inc., which acquires and manages precious metals royalties; and Allied Nevada Gold Corp., which acquires, explores, and advances gold exploration and potential development projects (0.1%, 0.1% and 0.1%, respectively, of the Fund’s long-term investments at period end).
 
 
 
 
 
Fund Overview
 
The Wilshire 5000 Total Market ETF, NYSE Arca ticker WFVK (the “Fund”) seeks investment results that correspond generally to the performance, before the Fund’s fees and expenses, of an equity index called Wilshire 5000 Total Market IndexSM (the “Index”).
 
On February 15, 2013, the Board of Trustees of the Claymore Exchange-Traded Fund Trust approved the closing and subsequent liquidation of the Fund. The last day of trading of Fund Shares on the NYSE Arca, Inc. was March 15, 2013.
 
The Index is a rules-based index comprised of, as of February 28, 2013, approximately 3,570 securities, including common stocks and real estate investment trusts (“REITs”). The Index is designed to represent the total U.S. equity market and includes all U.S. equity securities that have readily available prices. The Fund invested at least 80% of its total assets in equity securities that comprise the Index.  The Fund used a sampling approach in seeking to achieve its investment objective. Sampling means that the Investment Adviser and Investment Sub-Adviser used quantitative analysis to select securities from the Index universe to obtain a representative sample of securities that resemble the Index in terms of key risk factors, performance attributes and other characteristics.
 
Fund Performance
 
All Fund returns cited—whether based on net asset value (“NAV”) or market price—assume the reinvestment of all distributions. This report discusses the semiannual fiscal period ended February 28, 2013.
 
On a market price basis, the Fund generated a total return of 10.49%, which included an increase in market price over the period to $33.86 on February 28, 2013, from $31.28 as of August 31, 2012. On an NAV basis, the Fund generated a total return of 9.71%, which included an increase in NAV over the period to $33.71 on February 28, 2013, from $31.36 as of August 31, 2012. At the end of the period, the Fund’s shares were trading at a market price premium to NAV, which is to be expected from time to time.
 
For underlying index and domestic market comparison purposes, the Index returned 9.65% and the S&P 500 Index returned 8.95% for the same period.
 
 
 
 
 
The Fund made an annual distribution of $0.6510 per share on December 31, 2012, to shareholders of record on December 27, 2012.
 
Performance Attribution
 
For the six-month period ended February 28, 2013, the financial sector contributed most significantly to the Fund’s return, followed by the consumer, non-cyclical sector. The technology sector was the only sector to detract from the Fund’s return.
 
Positions that contributed most significantly to the Fund’s return included U.S.-based financial companies JPMorgan Chase & Co., Bank of America Corp. and Citigroup, Inc. (1.2%, 0.8% and 0.8%, respectively, of the Fund’s long-term investments at period end). Positions that detracted most significantly from the Fund’s return included Apple, Inc., which designs, manufactures and markets computers and other electronic devices; Microsoft Corp., which develops and licenses software products and services; and Intel Corp., which designs, manufactures, and sells integrated digital technology platforms worldwide (2.5%, 1.4% and 0.7%, respectively, of the Fund’s long-term investments at period end).
 
 
 
 
 
Risks and Other Considerations
The views expressed in this report reflect those of the portfolio managers and Guggenheim Funds Investment Advisors, LLC only through the report period as stated on the cover. These views are subject to change at any time, based on market and other conditions and should not be construed as a recommendation of any kind. The material may also contain forward looking statements that involve risk and uncertainty, and there is no guarantee they will come to pass.

This information does not represent an offer to sell securities of the Funds and it is not soliciting an offer to buy securities of the Funds. An investment in the various Guggenheim Funds ETFs is subject to certain risks and other considerations. Below are some general risks and considerations associated with investing in a Fund, which may cause you to lose money, including the entire principal that you invest. Please refer to the individual ETF prospectus for a more detailed discussion of Fund-specific risks and considerations.

Investment Risk: An investment in a Fund is subject to investment risk, including the possible loss of the entire principal amount that you invest.

Equity Risk: The value of the securities held by each Fund may fall due to general market and economic conditions, perceptions regarding the industries in which the issuers of securities held by each Fund participate, or factors relating to specific companies in which such Fund invests.

Foreign Investment Risk: A Fund’s investments in non-U.S. issuers, may involve unique risks compared to investing in securities of U.S. issuers, including, among others, greater market volatility than U.S. securities and less complete financial information than for U.S. issuers. In addition, adverse political, economic or social developments could undermine the value of such Fund’s investments or prevent such Fund from realizing the full value of its investments. Financial reporting standards for companies based in foreign markets differ from those in the U.S. Finally, the value of the currency of the country in which a Fund has invested could decline relative to the value of the U.S. dollar, which may affect the value of the investment to U.S. investors. In addition, the underlying issuers of certain depositary receipts, particularly unsponsored or unregistered depositary receipts, are under no obligation to distribute shareholder communications to the holders of such receipts, or to pass through to them any voting rights with respect to the deposited securities.

Emerging Markets Risk: Investment in securities of issuers based in developing or “emerging market” countries entails all of the risks of investing in securities of non-U.S. issuers, as previously described, but to a heightened degree.

Industry Risk: To the extent that Funds focus their investments in a particular industry of group of related industries, the NAV of the Funds will be more susceptible to factors affecting that industry or sector. Accordingly, the Fund may be subject to more risks than if it were broadly diversified over numerous industries and sectors of the economy.

Micro-, Small- and Medium-Sized Company Risk: Investing in securities of these companies involves greater risk as their stocks may be more volatile and less liquid than investing in more established companies. These stocks may have returns that vary, sometimes significantly, from the overall stock market. Micro-cap companies may be newly formed, less developed and there may be less available information about the company.

MLP Risk. Investments in securities of MLPs involve risks that differ from an investment in common stock. Holders of the units of MLPs have more limited control and limited rights to vote on matters affecting the partnership. There are also certain tax risks associated with an investment in units of MLPs. In addition, conflicts of interest may exist between common unit holders, subordinated unit holders and the general partner of a MLP, including a conflict arising as a result of incentive distribution payments.

Portfolio Turnover Risk. Certain Funds may engage in active and frequent trading of their portfolio securities in connection with the rebalancing of their respective index, and therefore such Fund’s
 
 
 
 
 
investments. A portfolio turnover rate of 200%, for example, is equivalent to a Fund buying and selling all of its securities two times during the course of the year. A high portfolio turnover rate (such as 100% or more) could result in high brokerage costs. While a high portfolio turnover rate can result in an increase in taxable capital gains distributions to a Fund’s shareholders, such Fund will seek to utilize the creation and redemption in kind mechanism to minimize capital gains to the extent possible.

Replication Management Risk. Unlike many investment companies, the Funds are not “actively” managed. Therefore, a Fund will not necessarily sell a security because the security’s issuer is in financial trouble unless that stock is removed from such Fund’s Index.

Non-Correlation Risk: A Fund’s return may not match the return of such Fund’s index for a number of reasons. For example, the Fund incurs a number of operating expenses not applicable to the Index, and incurs costs in buying and selling securities, especially when rebalancing the Fund’s securities holdings to reflect changes in the composition of the Index. A Fund may not be fully invested at times, either as a result of cash flows into such Fund or reserves of cash held by a Fund to meet redemptions and expenses. If a Fund utilizes a sampling approach or futures or other derivative positions, its return may not correlate as well with the return on the Index, as would be the case if it purchased all of the securities in the Index with the same weightings as the Index.

Issuer-Specific Changes: The value of an individual security or particular type of security can be more volatile than the market as a whole and can perform differently from the value of the market as a whole. The value of securities of smaller issuers can be more volatile than that of larger issuers.

Non-Diversified Fund Risk: Non-diversified Funds can invest a greater portion of assets in securities of individual issuers than a diversified fund. Changes in the market value of a single investment could cause greater fluctuations in share price than would occur in a diversified fund.

Recent Market Developments Risk. Global and domestic financial markets have experienced periods of unprecedented turmoil. Recently, markets have witnessed more stabilized economic activity as expectations for an economic recovery increased. However, risks to a robust resumption of growth persist. Continuing uncertainty as to the status of the euro and the European Monetary Union has created significant volatility in currency and financial markets generally. A return to unfavorable economic conditions or sustained economic slowdown could adversely impact the Funds portfolios. Financial market conditions, as well as various social and political tensions in the US and around the world, have contributed to increased market volatility and may have long-term effects on the US and worldwide financial markets and cause further economic uncertainties or deterioration in the US and worldwide. The Investment Adviser does not know how long the financial markets will continue to be affected by these events and cannot predict the effects of these or similar events in the future on the US and global economies and securities markets.

In addition to the risks described above, there are certain other risks related to investing in the Funds. These risks are described further in the Prospectus and Statement of Additional Information and at www.guggenheiminvestments.com/etf.
 
 
 
 
 
WXSP I Wilshire 4500 Completion ETF
Fund Summary
February 28, 2013 (unaudited)
 
Fund Statistics
    
Share Price
  
 $                35.58
Net Asset Value
  
 $                35.42
Premium/Discount to NAV
  
0.45%
Net Assets ($000)
  
 $                7,083
 
Total Returns
      
     
Since Inception
(Inception 3/9/10)
Six Month
One Year
 (Annualized)
Wilshire 4500 Completion ETF
      
   NAV
14.40%
14.33%
13.83%
   Market
15.19%
14.57%
14.01%
Wilshire 4500 Completion IndexSM
14.11%
14.11%
13.56%
S&P 500 Index
8.95%
13.46%
12.42%
 
Performance data quoted represents past performance, which is no guarantee of future results, and current performance may be lower or higher than the figures shown.  The deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares is not reflected in the total returns.  For the most recent month-end performance figures, please visit www.guggenheiminvestments.com. The investment return and principal value of an investment will fluctuate with changes in market conditions and other factors so that an investor's shares, when redeemed, may be worth more or less than their original cost.
 
Since inception returns assume a purchase of the Fund at the initial share price of $25.05 per share for share price returns or initial net asset value (NAV) of $25.05 per share for NAV returns. Returns for periods of less than one year are not annualized.
 
The Fund's annual operating expense ratio of 0.18% is expressed as a unitary fee and covers all expenses of the Fund, except for distribution fees, if any, brokerage expenses, taxes, interest, litigation expenses and other extraordinary expenses.
 
Portfolio Breakdown
  
% of Net Assets
    
Financial
     23.6 %  
Consumer, Non-cyclical
     17.4 %  
Consumer, Cyclical
     14.4 %  
Industrial
     14.2 %  
Communications
     9.1 %  
Technology
     7.6 %  
Energy
     5.2 %  
Basic Materials
     4.2 %  
Utilities
     3.8 %  
Diversified
     0.0 % *  
Total Common Stocks and Master Limited Partnerships
     99.5 %  
Warrants
     0.0 % *  
Total Long-Term Investments
     99.5 %  
Investments of Collateral for Securities Loaned
     1.3 %  
Total Investments
     100.8 %  
Liabilities in excess of Other Assets
     -0.8 %  
Net Assets
     100.0 %  
*Less than 0.1%
          
           
           
   
% of Long-Term
    
Top Ten Holdings
  
Investments
    
Facebook, Inc., Class A
     1.0 %  
Las Vegas Sands Corp.
     0.7 %  
General Motors Co.
     0.7 %  
Air Methods Corp.
     0.6 %  
General Growth Properties, Inc., REIT
     0.5 %  
Sirius XM Radio, Inc.
     0.5 %  
LinkedIn Corp., Class A
     0.5 %  
Annaly Capital Management, Inc., REIT
     0.5 %  
Delta Air Lines, Inc.
     0.4 %  
Liberty Media Corp.
     0.4 %  
 
Portfolio breakdown is shown as a percentage of net assets. Holdings are shown as a percentage of long-term investments.  Both are subject to change daily. For more current Fund information, please visit www.guggenheiminvestments.com.The above summaries are provided for informational purposes only, and should not be viewed as recommendations.
 
 
 
 
 
WFVK I Wilshire 5000 Total Market ETF
      
Fund Summary
      
February 28, 2013 (unaudited)
      
       
       
Fund Statistics
      
Share Price
    
 $               33.86
Net Asset Value
    
 $               33.71
Premium/Discount to NAV
    
0.44%
Net Assets ($000)
    
 $             10,114
       
Total Returns
      
 
Six
  
Since Inception
(Inception 3/9/10)
Months
One Year
 (Annualized)
Wilshire 5000 Total Market ETF
      
NAV
9.71%
13.29%
12.49%
Market
10.49%
13.13%
12.66%
Wilshire 5000 Total Market IndexSM
9.65%
13.31%
12.49%
S&P 500 Index
8.95%
13.46%
12.42%
 
Performance data quoted represents past performance, which is no guarantee of future results, and current performance may be lower or higher than the figures shown. The deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares is not reflected in the total returns. For the most recent month-end performance figures, please visit www.guggenheiminvestments.com. The investment return and principal value of an investment will fluctuate with changes in market conditions and other factors so that an investor’s shares, when redeemed, may be worth more or less than their original cost.
       
Since inception returns assume a purchase of the Fund at the initial share price of $25.01 per share for share price returns or initial net asset value (NAV) of $25.01 per share for NAV returns. Returns for periods of less than one year are not annualized.
       
The Fund’s annual operating expense ratio of 0.12% is expressed as a unitary fee and covers all expenses of the Fund, except for distribution fees, if any,  brokerage expenses, taxes, interest, litigation expenses and other extraordinary expenses.
 
Portfolio Breakdown
    
% of Net
Assets
Consumer, Non-cyclical
    
21.3%
Financial
    
17.4%
Technology
    
12.1%
Industrial
    
11.0%
Communications
    
10.8%
Energy
    
10.4%
Consumer, Cyclical
    
10.0%
Utilities
    
3.5%
Basic Materials
    
3.2%
Diversified
    
0.0%*
Total Common Stocks, Preferred Stock and Master Limited Partnership
99.7%
Investments of Collateral for Securities Loaned
    
0.4%
Total Investments
    
100.1%
Liabilities in excess of Other Assets
    
-0.1%
Net Assets
    
100.0%
*Less than 0.1%
      
 
       
     
% of Long-Term
Top Ten Holdings
    
Investments
Exxon Mobil Corp.
    
2.6%
Apple, Inc.
    
2.5%
General Electric Co.
    
1.6%
Chevron Corp.
    
1.4%
International Business Machines Corp.
    
1.4%
Microsoft Corp.
    
1.4%
Johnson & Johnson
    
1.3%
AT&T, Inc.
    
1.3%
Procter & Gamble Co.
    
1.3%
Pfizer, Inc.
    
1.3%
 
Portfolio breakdown is shown as a percentage of net assets. Holdings are shown as a percentage of long-term investments. Both are subject to change daily. For more current Fund information, please visit www.guggenheiminvestments.com.The above summaries are provided for informational purposes only, and should not be viewed as recommendations.
 
 
 
 
 
Overview of Fund Expenses
As of February 28, 2013 (unaudited)
 
As a shareholder of  Wilshire 4500 Completion ETF and Wilshire 5000 Total Market ETF, you incur advisory fees and other Fund expenses. The expense examples below are intended to help you understand your ongoing costs (in dollars) of investing in the Funds and to compare these costs with the ongoing costs of investing in other funds.
 
The example is based on an investment of $1,000 invested at the beginning of the period and held for the entire six month period ended February 28, 2013.
 
Actual Expense
 
The first line of the table below provides information about actual account values and actual expenses.  You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period.  Simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number in the first line under the heading entitled "Expenses Paid During Period" to estimate the expenses you paid on your account during this period.
 
Hypothetical Example for Comparison Purposes
 
The second line of the table below provides information about hypothetical account values and hypothetical expenses based on the Fund's actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the Fund's actual return.  The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period.  You may use this information to compare the ongoing cost of investing in the Fund and other funds.  To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds.
 
Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as sales charges (loads) or contingent deferred sales charges.  Therefore, the second line of the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds.  In addition, if these transactional costs were included, your costs would have been higher.
 
             
Annualized Expense
  
Expenses Paid
     
Beginning
  Ending  
Ratio for the
    During
        Account Value     Account Value  
Six Months Ended
   Period1
     
9/1/12
  
2/28/13
  
2/28/13
   9/1/12 - 2/28/13
                   
Wilshire 4500 Completion ETF
                  
  Actual
    
 $      1,000.00
  
 $           1,144.00
  
0.18%
  
 $                       0.96
  Hypothetical
    
1,000.00
  
              1,023.90
  
0.18%
  
                          0.90
  (5% annual return before expenses)
                  
                   
Wilshire 5000 Total Market ETF
                  
  Actual
    
1,000.00
  
              1,097.13
  
0.12%
  
                          0.62
  Hypothetical
    
1,000.00
  
              1,024.20
  
0.12%
  
                          0.60
  (5% annual return before expenses)
                  
 
1 Actual and hypothetical expenses are calculated using the annualized expense ratio.  This represents the ongoing expenses of the Fund as a percentage of average net assets for the six months ended February 28, 2013.  Expenses are calculated by multiplying the Fund's annualized expense ratio by the average account value over the period; then multiplying that result by 181/365.
 
Assumes all dividends and distributions were reinvested.
      
               
Premium/Discount Information
              
Information about the differences between the daily market price on secondary markets for Shares and the NAV of each Fund can be found at www.guggenheiminvestments.com.
 
 
 
 
 
WXSP Wilshire 4500 Completion ETF
    
Portfolio of Investments
    
February 28, 2013 (unaudited)
    
         
Number
        
of Shares
  
Description
  
Value
   
Long-Term Investments - 99.5%
    
   
Common Stocks - 99.5%
    
   
Basic Materials - 4.2%
    
78
  
A. Schulman, Inc.
  
$2,445
447
  
AK Steel Holding Corp.
  
1,676
189
  
Albemarle Corp.
  
12,300
228
  
Allied Nevada Gold Corp.(a)
  
4,172
62
  
AMCOL International Corp.
  
1,813
83
  
American Vanguard Corp.
  
2,576
145
  
Ashland, Inc.
  
11,306
115
  
Axiall Corp.
  
6,507
84
  
Balchem Corp.
  
3,388
251
  
Boise, Inc.
  
2,156
106
  
Buckeye Technologies, Inc.
  
2,939
141
  
Cabot Corp.
  
5,186
102
  
Carpenter Technology Corp.
  
4,817
331
  
Celanese Corp., Series A
  
15,507
211
  
Chemtura Corp.(a)
  
4,245
66
  
Clearwater Paper Corp.(a)
  
3,194
216
  
Coeur d'Alene Mines Corp.(a)
  
4,106
274
  
Commercial Metals Co.
  
4,469
95
  
Compass Minerals International, Inc.
  
7,003
113
  
Cytec Industries, Inc.
  
8,180
35
  
Deltic Timber Corp.
  
2,499
83
  
Domtar Corp.
  
6,188
357
  
Ferro Corp.(a)
  
1,831
227
  
Globe Specialty Metals, Inc.
  
3,244
261
  
Golden Minerals Co.(a)
  
757
61
  
Hawkins, Inc.
  
2,406
107
  
HB Fuller Co.
  
4,373
882
  
Hecla Mining Co.
  
4,093
149
  
Horsehead Holding Corp.(a)
  
1,575
433
  
Huntsman Corp.
  
7,461
71
  
Innophos Holdings, Inc.
  
3,467
176
  
Intrepid Potash, Inc.
  
3,469
43
  
Kaiser Aluminum Corp.
  
2,633
151
  
KapStone Paper and Packaging Corp.
  
4,023
56
  
Kraton Performance Polymers, Inc.(a)
  
1,346
84
  
Kronos Worldwide, Inc.(b)
  
1,437
51
  
Materion Corp.
  
1,411
272
  
McEwen Mining, Inc.(a)
  
661
70
  
Minerals Technologies, Inc.
  
2,817
447
  
Molycorp, Inc.(a)
  
2,745
24
  
NewMarket Corp.
  
6,040
224
  
Noranda Aluminum Holding Corp.
  
1,066
177
  
Olin Corp.
  
4,099
65
  
OM Group, Inc.(a)
  
1,595
561
  
Paramount Gold and Silver Corp.(a)
  
1,128
130
  
PH Glatfelter Co.
  
2,360
230
  
PolyOne Corp.
  
5,242
49
  
Quaker Chemical Corp.
  
2,813
161
  
Reliance Steel & Aluminum Co.
  
10,721
926
  
Rentech, Inc.
  
2,528
169
  
Rockwood Holdings, Inc.
  
10,579
148
  
Royal Gold, Inc.
  
9,700
261
  
RPM International, Inc.
  
7,937
98
  
Schnitzer Steel Industries, Inc., Class A
  
2,804
86
  
Schweitzer-Mauduit International, Inc.
  
3,169
107
  
Sensient Technologies Corp.
  
3,949
360
  
Southern Copper Corp.
  
13,604
467
  
Steel Dynamics, Inc.
  
7,131
62
  
Stepan Co.
  
3,797
138
  
Tahoe Resources, Inc. (Canada)(a)
  
2,084
108
  
Valhi, Inc.
  
1,758
199
  
Valspar Corp.
  
12,260
165
  
Wausau Paper Corp.
  
1,629
46
  
Westlake Chemical Corp.
  
3,966
129
  
WR Grace & Co.(a)
  
9,234
62
  
Zep, Inc.
  
928
       
298,542
         
   
Communications - 9.1%
    
414
  
8x8, Inc.(a)
  
2,505
121
  
Acme Packet, Inc.(a)
  
3,531
121
  
ADTRAN, Inc.
  
2,703
198
  
AMC Networks, Inc., Class A(a)
  
11,365
52
  
Anixter International, Inc.
  
3,584
262
  
AOL, Inc.
  
9,668
280
  
Arris Group, Inc.(a)
  
4,858
257
  
Aruba Networks, Inc.(a)
  
6,404
267
  
Belo Corp., Class A
  
2,307
84
  
Black Box Corp.
  
2,038
142
  
Blucora, Inc.(a)
  
2,201
30
  
Blue Nile, Inc.(a)
  
1,018
67
  
Broadsoft, Inc.(a)
  
1,407
258
  
Calix, Inc.(a)
  
2,211
175
  
Charter Communications, Inc., Class A(a)
  
15,118
263
  
Ciena Corp.(a)
  
4,008
543
  
Cincinnati Bell, Inc.(a)
  
1,765
105
  
Clear Channel Outdoor Holdings, Inc., Class A
  
798
146
  
Cogent Communications Group, Inc.
  
3,672
116
  
comScore, Inc.(a)
  
1,849
74
  
Comtech Telecommunications Corp.
  
1,982
87
  
Consolidated Communications Holdings, Inc.
  
1,462
90
  
Constant Contact, Inc.(a)
  
1,272
489
  
Cumulus Media, Inc., Class A(a)
  
1,599
112
  
DealerTrack Holdings, Inc.(a)
  
3,303
152
  
Dice Holdings, Inc.(a)
  
1,465
190
  
DigitalGlobe, Inc.(a)
  
4,955
425
  
DISH Network Corp., Class A
  
14,790
374
  
Dolan Media Co.(a)
  
1,088
285
  
EarthLink, Inc.
  
1,656
119
  
EchoStar Corp., Class A(a)
  
4,503
75
  
Equinix, Inc.(a)
  
15,866
271
  
EW Scripps Co., Class A(a)
  
2,930
105
  
ExactTarget, Inc.(a)
  
2,341
2,714
  
Facebook, Inc., Class A(a)
  
73,956
96
  
FactSet Research Systems, Inc.(b)
  
9,340
249
  
Finisar Corp.(a)
  
3,648
307
  
Harmonic, Inc.(a)
  
1,747
383
  
Harte-Hanks, Inc.
  
2,784
78
  
HealthStream, Inc.(a)
  
1,668
58
  
HomeAway, Inc.(a)
  
1,711
181
  
IAC/InterActiveCorp
  
7,376
253
  
Infinera Corp.(a)
  
1,642
111
  
InterDigital, Inc.
  
4,928
234
  
IntraLinks Holdings, Inc.(a)
  
1,376
67
  
IPG Photonics Corp.
  
3,972
164
  
Ixia(a)
  
3,326
119
  
John Wiley & Sons, Inc., Class A
  
4,353
107
  
Keynote Systems, Inc.
  
1,635
202
  
Lamar Advertising Co., Class A(a)
  
9,340
293
  
Leap Wireless International, Inc.(a)
  
1,568
413
  
Level 3 Communications, Inc.(a)
  
8,252
302
  
Liberty Global, Inc., Class A(a)
  
20,805
1,077
  
Liberty Interactive Corp., Class A(a)
  
22,488
259
  
Liberty Media Corp.(a)
  
27,972
49
  
Liberty Ventures, Series A(a)
  
3,538
201
  
Linkedin Corp., Class A(a)
  
33,804
41
  
Liquidity Services, Inc.(a)
  
1,396
73
  
LogMeIn, Inc.(a)
  
1,304
57
  
Loral Space & Communications, Inc.
  
3,320
438
  
Marchex, Inc., Class B
  
1,656
73
  
Meredith Corp.
  
3,067
260
  
Move, Inc.(a)
  
2,538
83
  
NETGEAR, Inc.(a)
  
2,826
148
  
NeuStar, Inc., Class A(a)
  
6,490
476
  
New York Times Co., Class A(a)
  
4,603
255
  
NIC, Inc.
  
4,519
59
  
NTELOS Holdings Corp.
  
736
96
  
NutriSystem, Inc.
  
790
70
  
OpenTable, Inc.(a)
  
3,892
90
  
Oplink Communications, Inc.(a)
  
1,382
382
  
Orbitz Worldwide, Inc.(a)
  
1,627
94
  
Plantronics, Inc.
  
3,794
590
  
Polycom, Inc.(a)
  
5,375
162
  
Quinstreet, Inc.(a)
  
928
226
  
Rackspace Hosting, Inc.(a)
  
12,624
134
  
Responsys, Inc.(a)
  
1,081
631
  
RF Micro Devices, Inc.(a)
  
2,909
250
  
Sapient Corp.(a)
  
2,805
290
  
SBA Communications Corp., Class A(a)
  
20,625
84
  
Scholastic Corp.
  
2,528
81
  
Shutterfly, Inc.(a)
  
3,506
86
  
Sinclair Broadcast Group, Inc., Class A
  
1,211
11,203
  
Sirius XM Radio, Inc.
  
34,729
765
  
Sonus Networks, Inc.(a)
  
1,874
75
  
Sourcefire, Inc.(a)
  
4,022
259
  
Starz - Liberty Capital(a)
  
4,807
872
  
TeleCommunication Systems, Inc., Class A(a)
  
2,014
173
  
Telephone & Data Systems, Inc.
  
3,960
1,218
  
Tellabs, Inc.
  
2,473
635
  
Thomson Reuters Corp. (Canada)
  
19,418
342
  
TIBCO Software, Inc.(a)
  
7,336
304
  
tw telecom, Inc.(a)
  
7,697
290
  
United Online, Inc.
  
1,711
34
  
United States Cellular Corp.(a)
  
1,251
258
  
ValueClick, Inc.(a)
  
6,881
83
  
ViaSat, Inc.(a)
  
3,898
545
  
Virgin Media, Inc.
  
25,288
111
  
VirnetX Holding Corp.(a) (b)
  
3,911
110
  
Vocus, Inc.(a)
  
1,544
458
  
Vonage Holdings Corp.(a)
  
1,209
163
  
Web.com Group, Inc.(a)
  
2,784
137
  
WebMD Health Corp.(a)
  
3,028
114
  
Websense, Inc.(a)
  
1,709
178
  
Windstream Corp.
  
1,529
78
  
Zillow, Inc., Class A(a) (b)
  
3,351
1,458
  
Zynga, Inc., Class A(a)
  
4,943
       
642,350
         
   
Consumer, Cyclical - 14.4%
    
249
  
Accuride Corp.(a)
  
1,008
152
  
Advance Auto Parts, Inc.
  
11,604
119
  
Aeropostale, Inc.(a)
  
1,549
150
  
Alaska Air Group, Inc.(a)
  
7,733
40
  
Allegiant Travel Co.
  
3,212
166
  
American Axle & Manufacturing Holdings, Inc.(a)
  
2,100
512
  
American Eagle Outfitters, Inc.
  
10,588
89
  
Ameristar Casinos, Inc.
  
2,332
153
  
ANN, Inc.(a)
  
4,328
201
  
Arrow Electronics, Inc.(a)
  
8,070
92
  
Asbury Automotive Group, Inc.(a)
  
3,106
244
  
Ascena Retail Group, Inc.(a)
  
4,097
213
  
Autoliv, Inc.
  
13,883
90
  
Bally Technologies, Inc.(a)
  
4,297
97
  
Barnes & Noble, Inc.(a) (b)
  
1,527
123
  
Beacon Roofing Supply, Inc.(a)
  
4,539
115
  
Beazer Homes USA, Inc.(a)
  
1,791
5
  
Biglari Holdings, Inc.(a)
  
1,872
65
  
BJ's Restaurants, Inc.(a)
  
2,001
69
  
Bob Evans Farms, Inc.
  
2,808
192
  
Boyd Gaming Corp.(a)
  
1,261
209
  
Brinker International, Inc.
  
6,976
112
  
Brown Shoe Co., Inc.
  
1,837
191
  
Brunswick Corp.
  
6,960
79
  
Buckle, Inc.
  
3,540
42
  
Buffalo Wild Wings, Inc.(a)
  
3,305
117
  
Cabela's, Inc.(a)
  
5,919
280
  
Callaway Golf Co.
  
1,882
128
  
Carter's, Inc.(a)
  
7,220
104
  
Casey's General Stores, Inc.
  
5,885
114
  
Cash America International, Inc.
  
5,773
84
  
Cato Corp., Class A
  
2,155
53
  
CEC Entertainment, Inc.
  
1,603
134
  
Cheesecake Factory, Inc.
  
4,642
389
  
Chico's FAS, Inc.
  
6,605
57
  
Children's Place Retail Stores, Inc.(a)
  
2,591
56
  
Choice Hotels International, Inc.
  
2,130
38
  
Churchill Downs, Inc.
  
2,507
188
  
Cinemark Holdings, Inc.
  
5,226
64
  
Coinstar, Inc.(a) (b)
  
3,276
35
  
Columbia Sportswear Co.
  
1,944
240
  
Commercial Vehicle Group, Inc.(a)
  
1,896
66
  
Conn's, Inc.(a)
  
2,115
144
  
Cooper Tire & Rubber Co.
  
3,640
266
  
Copart, Inc.(a)
  
9,081
48
  
Cracker Barrel Old Country Store, Inc.
  
3,613
259
  
Crocs, Inc.(a)
  
3,926
335
  
Dana Holding Corp.
  
5,605
96
  
Deckers Outdoor Corp.(a) (b)
  
3,873
1,982
  
Delta Air Lines, Inc.(a)
  
28,283
209
  
Dick's Sporting Goods, Inc.
  
10,450
100
  
Dillard's, Inc., Class A
  
7,968
43
  
DineEquity, Inc.
  
3,005
134
  
Dolby Laboratories, Inc., Class A
  
4,272
136
  
Domino's Pizza, Inc.
  
6,476
80
  
Dorman Products, Inc.
  
2,797
96
  
DreamWorks Animation SKG, Inc., Class A(a)
  
1,594
65
  
DSW, Inc., Class A
  
4,400
40
  
DTS, Inc.(a)
  
796
344
  
Exide Technologies(a)
  
922
85
  
Express, Inc.(a)
  
1,573
136
  
Ezcorp, Inc., Class A(a)
  
2,812
257
  
Federal-Mogul Corp.(a)
  
2,077
244
  
Fifth & Pacific Cos., Inc.(a)
  
4,414
146
  
Finish Line, Inc. (The), Class A
  
2,644
89
  
First Cash Financial Services, Inc.(a)
  
4,709
345
  
Foot Locker, Inc.
  
11,796
140
  
Fred's, Inc., Class A
  
1,900
128
  
Fuel Systems Solutions, Inc.(a)
  
1,778
64
  
G&K Services, Inc., Class A
  
2,667
1,716
  
General Motors Co.(a)
  
46,589
76
  
Genesco, Inc.(a)
  
4,460
74
  
G-III Apparel(a)
  
2,701
85
  
GNC Holdings, Inc., Class A
  
3,485
53
  
Group 1 Automotive, Inc.
  
3,060
138
  
Guess?, Inc.
  
3,821
173
  
Hanesbrands, Inc.(a)
  
6,858
117
  
Herman Miller, Inc.
  
2,808
85
  
Hibbett Sports, Inc.(a)
  
4,491
91
  
HNI Corp.
  
2,872
327
  
Hovnanian Enterprises, Inc., Class A(a)
  
1,913
91
  
HSN, Inc.
  
4,869
103
  
Hyatt Hotels Corp., Class A(a)
  
4,232
187
  
Iconix Brand Group, Inc.(a)
  
4,417
413
  
Ingram Micro, Inc., Class A(a)
  
7,789
166
  
Interface, Inc.
  
3,039
60
  
International Speedway Corp., Class A
  
1,808
114
  
Interval Leisure Group, Inc.
  
2,379
113
  
Jack in the Box, Inc.(a)
  
3,578
598
  
JetBlue Airways Corp.(a)
  
3,624
172
  
Jones Group, Inc.
  
1,985
67
  
Jos A Bank Clothiers, Inc.(a)
  
2,781
163
  
KB Home
  
3,046
123
  
Knoll, Inc.
  
2,093
182
  
Krispy Kreme Doughnuts, Inc.(a)
  
2,402
999
  
Las Vegas Sands Corp.
  
51,439
133
  
La-Z-Boy, Inc.
  
2,437
266
  
Lear Corp.
  
14,210
82
  
Life Time Fitness, Inc.(a)
  
3,455
133
  
Lions Gate Entertainment Corp. (Canada)(a)
  
2,789
68
  
Lithia Motors, Inc., Class A
  
2,795
702
  
LKQ Corp.(a)
  
14,875
80
  
Lumber Liquidators Holdings, Inc.(a)
  
4,735
157
  
Madison Square Garden Co., Class A(a)
  
8,779
94
  
Maidenform Brands, Inc.(a)
  
1,804
71
  
Marriott Vacations Worldwide Corp.(a)
  
2,929
92
  
MDC Holdings, Inc.
  
3,536
99
  
Men's Wearhouse, Inc.
  
2,784
77
  
Meritage Homes Corp.(a)
  
3,118
849
  
MGM Resorts International(a)
  
10,604
103
  
Mobile Mini, Inc.(a)
  
2,773
121
  
Modine Manufacturing Co.(a)
  
997
126
  
Mohawk Industries, Inc.(a)
  
13,359
110
  
MSC Industrial Direct Co., Inc., Class A
  
9,385
39
  
MWI Veterinary Supply, Inc.(a)
  
4,924
110
  
National CineMedia, Inc.
  
1,678
1,184
  
Navarre Corp.(a)
  
2,380
170
  
Navistar International Corp.(a)
  
4,221
123
  
Nu Skin Enterprises, Inc., Class A
  
5,068
11
  
NVR, Inc.(a)
  
11,101
682
  
Office Depot, Inc.(a)
  
2,748
254
  
OfficeMax, Inc.
  
3,040
270
  
Oshkosh Corp.(a)
  
10,411
127
  
Owens & Minor, Inc.
  
3,867
65
  
Panera Bread Co., Class A(a)
  
10,462
67
  
Pantry, Inc.(a)
  
833
68
  
Papa John's International, Inc.(a)
  
3,537
169
  
Penn National Gaming, Inc.(a)
  
8,425
83
  
Penske Automotive Group, Inc.
  
2,470
165
  
Pep Boys-Manny Moe & Jack
  
1,836
99
  
Perry Ellis International, Inc.
  
1,606
16
  
PetSmart, Inc.
  
1,042
334
  
Pier 1 Imports, Inc.
  
7,505
186
  
Pinnacle Entertainment, Inc.(a)
  
2,604
282
  
Pizza Inn Holdings, Inc.(a) (b)
  
888
132
  
Polaris Industries, Inc.
  
11,533
101
  
Pool Corp.
  
4,618
61
  
Pricesmart, Inc.
  
4,523
142
  
PVH Corp.
  
17,303
388
  
Quiksilver, Inc.(a)
  
2,425
198
  
Regal Entertainment Group, Class A
  
3,103
148
  
Regis Corp.
  
2,667
382
  
Republic Airways Holdings, Inc.(a)
  
3,595
1,505
  
Rite Aid Corp.(a)
  
2,468
327
  
Royal Caribbean Cruises Ltd. (Liberia)
  
11,402
179
  
Ruby Tuesday, Inc.(a)
  
1,314
54
  
Ryland Group, Inc.
  
1,929
114
  
Ryman Hospitality Properties, REIT
  
5,102
310
  
Saks, Inc.(a)
  
3,534
208
  
Sally Beauty Holdings, Inc.(a)
  
5,770
55
  
ScanSource, Inc.(a)
  
1,651
212
  
Sears Holdings Corp.(a) (b)
  
9,540
112
  
Select Comfort Corp.(a)
  
2,299
177
  
SHFL Entertainment, Inc.(a)
  
2,807
154
  
Signet Jewelers Ltd. (Bermuda)
  
9,428
90
  
Six Flags Entertainment Corp.
  
6,013
139
  
Skechers U.S.A., Inc., Class A(a)
  
2,905
141
  
SkyWest, Inc.
  
1,974
154
  
Sonic Corp.(a)
  
1,739
101
  
Stage Stores, Inc.
  
2,494
429
  
Standard Pacific Corp.(a)
  
3,492
198
  
Steelcase, Inc., Class A
  
2,802
114
  
Steven Madden Ltd.(a)
  
5,026
81
  
Superior Industries International, Inc.
  
1,762
49
  
Susser Holdings Corp.(a)
  
2,170
143
  
Tempur-Pedic International, Inc.(a)
  
5,873
122
  
Tenneco, Inc.(a)
  
4,322
89
  
Tesla Motors, Inc.(a) (b)
  
3,100
168
  
Texas Roadhouse, Inc.
  
3,249
105
  
Thor Industries, Inc.
  
3,947
81
  
Titan International, Inc.
  
1,710
77
  
Titan Machinery, Inc.(a)
  
2,175
320
  
TiVo, Inc.(a)
  
3,965
253
  
Toll Brothers, Inc.(a)
  
8,632
106
  
Toro Co.
  
4,781
165
  
Tractor Supply Co.
  
17,158
80
  
True Religion Apparel, Inc.
  
2,135
283
  
TRW Automotive Holdings Corp.(a)
  
16,609
110
  
Ulta Salon Cosmetics & Fragrance, Inc.
  
9,742
158
  
Under Armour, Inc., Class A(a)
  
7,786
32
  
Unifirst Corp.
  
2,673
687
  
United Continental Holdings, Inc.(a)
  
18,350
84
  
United Stationers, Inc.
  
3,041
363
  
US Airways Group, Inc.(a)
  
4,875
30
  
Vail Resorts, Inc.
  
1,657
150
  
Visteon Corp.(a)
  
8,742
44
  
Vitamin Shoppe(a)
  
2,312
228
  
Wabash National Corp.(a)
  
2,175
135
  
WABCO Holdings, Inc.(a)
  
9,277
55
  
Watsco, Inc.
  
4,283
1,114
  
Wendy's Co.
  
6,339
107
  
WESCO International, Inc.(a)
  
7,907
398
  
Wet Seal, Inc., Class A(a)
  
1,170
177
  
Williams-Sonoma, Inc.
  
8,036
111
  
Wolverine World Wide, Inc.
  
4,684
127
  
World Fuel Services Corp.
  
4,830
74
  
Zumiez, Inc.(a)
  
1,695
       
1,019,931
         
   
Consumer, Non-cyclical - 17.4%
    
168
  
Aaron's, Inc.
  
4,585
68
  
Abaxis, Inc.
  
2,885
75
  
ABIOMED, Inc.(a)
  
1,203
95
  
ABM Industries, Inc.
  
2,157
121
  
Acacia Research Corp.(a)
  
3,383
154
  
ACCO Brands Corp.(a)
  
1,155
405
  
Accuray, Inc.(a)
  
1,729
207
  
Achillion Pharmaceuticals, Inc.(a)
  
1,677
96
  
Acorda Therapeutics, Inc.(a)
  
2,856
98
  
Advisory Board Co.(a)
  
4,979
74
  
Aegerion Pharmaceuticals, Inc.(a)
  
2,229
102
  
Affymax, Inc.(a)
  
271
875
  
Air Methods Corp.
  
39,191
191
  
Akorn, Inc.(a)
  
2,636
109
  
Alere, Inc.(a)
  
2,481
152
  
Align Technology, Inc.(a)
  
4,779
298
  
Alkermes PLC (Ireland)(a)
  
6,470
117
  
Alliance Data Systems Corp.(a)
  
18,567
176
  
Alnylam Pharmaceuticals, Inc.(a)
  
4,169
97
  
Amedisys, Inc.(a)
  
1,096
86
  
American Greetings Corp., Class A(b)
  
1,393
49
  
American Public Education, Inc.(a)
  
1,910
82
  
Amsurg Corp.(a)
  
2,476
55
  
Andersons, Inc.
  
2,699
125
  
Angiodynamics, Inc.(a)
  
1,549
83
  
Arbitron, Inc.
  
3,888
534
  
Arena Pharmaceuticals, Inc.(a)
  
4,480
425
  
Ariad Pharmaceuticals, Inc.(a)
  
8,938
492
  
Array Biopharma, Inc.(a)
  
1,914
73
  
ArthroCare Corp.(a)
  
2,549
57
  
Ascent Capital Group, Inc., Class A(a)
  
3,910
95
  
Auxilium Pharmaceuticals, Inc.(a)
  
1,620
676
  
AVANIR Pharmaceuticals, Inc., Class A(a)
  
1,845
225
  
Avis Budget Group, Inc.(a)
  
5,258
169
  
B&G Foods, Inc.
  
4,969
275
  
BioMarin Pharmaceutical, Inc.(a)
  
15,942
45
  
Bio-Rad Laboratories, Inc., Class A(a)
  
5,544
98
  
Bio-Reference Labs, Inc.(a)
  
2,595
186
  
Bioscrip, Inc.(a)
  
2,037
16
  
Boston Beer Co., Inc., Class A(a)
  
2,487
147
  
Boulder Brands, Inc.(a)
  
1,252
104
  
Brink's Co.
  
2,751
266
  
Brookdale Senior Living, Inc.(a)
  
7,363
193
  
Bruker Corp.(a)
  
3,385
348
  
Bunge Ltd. (Bermuda)
  
25,790
74
  
Calavo Growers, Inc.
  
2,083
62
  
Cal-Maine Foods, Inc.
  
2,510
44
  
Capella Education Co.(a)
  
1,393
72
  
Cardtronics, Inc.(a)
  
1,898
424
  
Catamaran Corp. (Canada)(a)
  
22,773
247
  
CBIZ, Inc.(a)
  
1,571
122
  
Centene Corp.(a)
  
5,492
144
  
Cepheid, Inc.(a)
  
5,246
162
  
Charles River Laboratories International, Inc.(a)
  
6,600
49
  
Chemed Corp.
  
3,782
347
  
Church & Dwight Co., Inc.
  
21,500
37
  
Coca-Cola Bottling Co. Consolidated
  
2,421
186
  
Community Health Systems, Inc.
  
7,860
186
  
Conceptus, Inc.(a)
  
4,153
80
  
CONMED Corp.
  
2,489
29
  
Consolidated Graphics, Inc.(a)
  
1,119
291
  
Convergys Corp.
  
4,828
86
  
Cooper Cos., Inc.
  
9,121
183
  
CoreLogic, Inc.(a)
  
4,742
82
  
Corporate Executive Board Co.
  
4,439
51
  
CoStar Group, Inc.(a)
  
5,138
142
  
Covance, Inc.(a)
  
9,456
88
  
CRA Internationa(a)
  
1,946
120
  
Cubist Pharmaceuticals, Inc.(a)
  
5,092
375
  
Curis, Inc.(a)
  
1,009
91
  
Cyberonics, Inc.(a)
  
4,163
124
  
Deluxe Corp.
  
4,920
472
  
Dendreon Corp.(a) (b)
  
2,733
233
  
Depomed, Inc.(a)
  
1,508
91
  
DeVry, Inc.
  
2,728
148
  
DexCom, Inc.(a)
  
2,210
119
  
Dole Food Co., Inc.(a)
  
1,333
481
  
Dynavax Technologies Corp.(a)
  
981
84
  
Elizabeth Arden, Inc.(a)
  
3,268
92
  
Emergent Biosolutions, Inc.(a)
  
1,425
85
  
Emeritus Corp.(a)
  
2,422
255
  
Endo Health Solutions, Inc.(a)
  
7,905
129
  
Endologix, Inc.(a)
  
1,943
96
  
Ennis, Inc.
  
1,503
182
  
Enzon Pharmaceuticals, Inc.
  
770
135
  
Euronet Worldwide, Inc.(a)
  
3,259
187
  
Exact Sciences Corp.(a)
  
1,997
312
  
Exelixis, Inc.(a) (b)
  
1,423
98
  
ExlService Holdings, Inc.(a)
  
2,966
67
  
Fleetcor Technologies, Inc.(a)
  
4,677
297
  
Flowers Foods, Inc.
  
8,369
55
  
Forrester Research, Inc.
  
1,510
93
  
Fresh Del Monte Produce, Inc. (Cayman Islands)
  
2,426
42
  
Fresh Market, Inc.(a)
  
1,958
120
  
FTI Consulting, Inc.(a)
  
4,169
340
  
G Willi-Food International Ltd. (Israel)(a)
  
1,986
191
  
Gartner, Inc.(a)
  
9,504
111
  
Genomic Health, Inc.(a)
  
3,180
238
  
Genpact Ltd. (Bermuda)
  
4,191
606
  
Geron Corp.(a)
  
885
243
  
Global Cash Access Holdings, Inc.(a)
  
1,725
184
  
Global Payments, Inc.
  
8,871
61
  
Grand Canyon Education, Inc.(a)
  
1,461
84
  
Greatbatch, Inc.(a)
  
2,274
234
  
Green Mountain Coffee Roasters, Inc.(a)
  
11,176
135
  
H&E Equipment Services, Inc.
  
2,627
120
  
Haemonetics Corp.(a)
  
4,950
116
  
Hain Celestial Group, Inc.(a)
  
6,351
326
  
Halozyme Therapeutics, Inc.(a)
  
1,780
98
  
Hanger, Inc.(a)
  
2,907
89
  
Harris Teeter Supermarkets, Inc.
  
3,827
139
  
HCA Holdings, Inc.
  
5,156
747
  
Health Management Associates, Inc., Class A(a)
  
8,210
211
  
Health Net, Inc.(a)
  
5,431
158
  
Healthcare Services Group, Inc.
  
3,808
221
  
HealthSouth Corp.(a)
  
5,331
111
  
Heartland Payment Systems, Inc.
  
3,452
17
  
HeartWare International, Inc.(a)
  
1,452
67
  
Helen of Troy Ltd. (Bermuda)(a)
  
2,484
194
  
Henry Schein, Inc.(a)
  
17,309
200
  
Herbalife Ltd. (Cayman Islands)(b)
  
8,058
327
  
Hertz Global Holdings, Inc.(a)
  
6,524
146
  
Hill-Rom Holdings, Inc.
  
4,786
357
  
Hillshire Brands Co.
  
11,567
40
  
Hi-Tech Pharmacal Co., Inc.
  
1,480
195
  
HMS Holdings Corp.(a)
  
5,653
492
  
Hologic, Inc.(a)
  
10,740
73
  
Huron Consulting Group, Inc.(a)
  
2,861
73
  
ICF International, Inc.(a)
  
1,806
45
  
ICU Medical, Inc.(a)
  
2,554
89
  
Idenix Pharmaceuticals, Inc.(a)
  
375
77
  
IDEXX Laboratories, Inc.(a)
  
7,093
257
  
Illumina, Inc.(a)
  
12,883
55
  
ImmunoGen, Inc.(a)
  
834
153
  
Impax Laboratories, Inc.(a)
  
3,034
317
  
Incyte Corp. Ltd.(a)
  
7,037
119
  
Infinity Pharmaceuticals, Inc.(a)
  
4,914
171
  
Ingredion, Inc.
  
11,320
69
  
Insperity, Inc.
  
1,956
95
  
Insulet Corp.(a)
  
2,144
46
  
Integra LifeSciences Holdings Corp.(a)
  
1,874
48
  
IPC The Hospitalist Co., Inc.(a)
  
2,002
190
  
Ironwood Pharmaceuticals, Inc.(a)
  
2,837
239
  
Isis Pharmaceuticals, Inc.(a)
  
3,513
52
  
J&J Snack Foods Corp.
  
3,599
176
  
Jarden Corp.(a)
  
10,931
66
  
K12, Inc.(a)
  
1,376
72
  
KAR Auction Services, Inc.
  
1,528
88
  
Kelly Services, Inc., Class A
  
1,554
504
  
Keryx Biopharmaceuticals, Inc.(a)
  
3,241
121
  
Kforce, Inc.
  
1,759
113
  
Kindred Healthcare, Inc.(a)
  
1,274
108
  
Korn/Ferry International(a)
  
1,999
44
  
Lancaster Colony Corp.
  
3,219
32
  
Landauer, Inc.
  
1,879
205
  
Lender Processing Services, Inc.
  
5,035
56
  
LHC Group, Inc.(a)
  
1,138
104
  
LifePoint Hospitals, Inc.(a)
  
4,585
348
  
Live Nation Entertainment, Inc.(a)
  
3,685
135
  
Luminex Corp.(a)
  
2,279
80
  
Magellan Health Services, Inc.(a)
  
4,125
100
  
MAKO Surgical Corp.(a)
  
1,279
192
  
Manpower, Inc.
  
10,483
81
  
MAP Pharmaceuticals, Inc.(a)
  
2,025
128
  
Masimo Corp.
  
2,541
73
  
Matthews International Corp., Class A
  
2,409
80
  
MAXIMUS, Inc.
  
5,822
66
  
McGrath RentCorp
  
1,946
193
  
Medicines Co.(a)
  
6,139
180
  
Medivation, Inc.(a)
  
8,845
103
  
MEDNAX, Inc.(a)
  
8,819
513
  
Merge Healthcare, Inc.(a)
  
1,257
111
  
Meridian Bioscience, Inc.
  
2,353
135
  
Merit Medical Systems, Inc.(a)
  
1,609
105
  
Molina Healthcare, Inc.(a)
  
3,351
145
  
Momenta Pharmaceuticals, Inc.(a)
  
1,847
117
  
MoneyGram International, Inc.(a)
  
1,897
93
  
Monro Muffler Brake, Inc.
  
3,446
195
  
Monster Worldwide, Inc.(a)
  
998
58
  
Morningstar, Inc.
  
3,978
68
  
Multi-Color Corp.
  
1,641
216
  
Myriad Genetics, Inc.(a)
  
5,491
39
  
Nash Finch Co.
  
748
73
  
National Healthcare Corp.
  
3,385
121
  
Natus Medical, Inc.(a)
  
1,537
134
  
Navigant Consulting, Inc.(a)
  
1,706
293
  
Nektar Therapeutics(a)
  
2,716
72
  
Neogen Corp.(a)
  
3,371
227
  
Neurocrine Biosciences, Inc.(a)
  
2,402
241
  
NPS Pharmaceuticals, Inc.(a)
  
1,923
155
  
Nutraceutical International Corp.
  
2,540
98
  
NuVasive, Inc.(a)
  
1,820
130
  
NxStage Medical, Inc.(a)
  
1,459
282
  
Omnicare, Inc.
  
10,507
130
  
On Assignment, Inc.(a)
  
2,842
151
  
Onyx Pharmaceuticals, Inc.(a)
  
11,372
445
  
Opko Health, Inc.(a) (b)
  
3,088
102
  
Optimer Pharmaceuticals, Inc.(a)
  
1,236
170
  
OraSure Technologies, Inc.(a)
  
945
46
  
Orthofix International NV (Curacao)(a)
  
1,714
107
  
Pacira Pharmaceuticals, Inc.(a)
  
2,339
133
  
PAREXEL International Corp.(a)
  
4,614
345
  
PDL BioPharma, Inc.
  
2,463
124
  
Pharmacyclics, Inc.(a)
  
10,885
104
  
PharMerica Corp.(a)
  
1,490
127
  
PHH Corp.(a)
  
2,668
261
  
Pilgrim's Pride Corp.(a)
  
2,299
52
  
Post Holdings, Inc.(a)
  
2,010
90
  
Prestige Brands Holdings, Inc.(a)
  
2,141
186
  
Protalix BioTherapeutics, Inc.(a)
  
1,064
164
  
Quad/Graphics, Inc.
  
3,567
134
  
Questcor Pharmaceuticals, Inc.(b)
  
4,368
123
  
Quidel Corp.(a)
  
2,911
242
  
Raptor Pharmaceutical Corp.(a) (b)
  
1,203
136
  
Regeneron Pharmaceuticals, Inc.(a)
  
22,712
146
  
Rent-A-Center, Inc.
  
5,297
361
  
ResMed, Inc.
  
16,061
102
  
Resources Connection, Inc.
  
1,245
168
  
Rigel Pharmaceuticals, Inc.(a)
  
1,129
88
  
Rollins, Inc.
  
2,157
243
  
RR Donnelley & Sons Co.
  
2,537
125
  
Salix Pharmaceuticals Ltd.(a)
  
6,106
47
  
Sanderson Farms, Inc.
  
2,384
233
  
Sangamo Biosciences, Inc.(a)
  
2,374
188
  
Santarus, Inc.(a)
  
2,495
80
  
Sarepta Therapeutics, Inc.(a)
  
2,342
104
  
Scotts Miracle-Gro Co., Class A
  
4,608
1
  
Seaboard Corp.
  
2,853
264
  
Seattle Genetics, Inc.(a)
  
7,429
290
  
Select Medical Holdings Corp.
  
2,680
415
  
Sequenom, Inc.(a)
  
1,706
421
  
Service Corp. International
  
6,542
116
  
Sirona Dental Systems, Inc.(a)
  
8,238
349
  
Smithfield Foods, Inc.(a)
  
7,762
186
  
Snyders-Lance, Inc.
  
4,605
151
  
Sotheby's
  
5,773
92
  
Spartan Stores, Inc.
  
1,533
111
  
Spectrum Pharmaceuticals, Inc.(b)
  
1,265
618
  
Star Scientific, Inc.(a)
  
1,094
31
  
Steiner Leisure Ltd. (Bahamas)(a)
  
1,462
119
  
STERIS Corp.
  
4,641
263
  
Stewart Enterprises, Inc., Class A
  
2,228
17
  
Strayer Education, Inc.
  
835
188
  
Synta Pharmaceuticals Corp.(a)
  
1,615
88
  
Team Health Holdings, Inc.(a)
  
2,947
82
  
Team, Inc.(a)
  
3,597
80
  
Techne Corp.
  
5,439
120
  
Tejon Ranch Co.(a)
  
3,516
87
  
Teleflex, Inc.
  
6,957
101
  
TeleTech Holdings, Inc.(a)
  
1,890
152
  
Theravance, Inc.(a)
  
3,084
126
  
Thoratec Corp.(a)
  
4,436
50
  
Tootsie Roll Industries, Inc.(b)
  
1,404
152
  
Towers Watson & Co., Class A
  
10,119
52
  
TreeHouse Foods, Inc.(a)
  
3,036
82
  
Triple-S Management Corp., Class B (Puerto Rico)(a)
  
1,473
121
  
TrueBlue, Inc.(a)
  
2,346
119
  
Tupperware Brands Corp.
  
9,309
113
  
United Natural Foods, Inc.(a)
  
5,720
232
  
United Rentals, Inc.(a)
  
12,391
103
  
United Therapeutics Corp.(a)
  
6,160
181
  
Universal American Corp.
  
1,510
45
  
Universal Corp.
  
2,511
193
  
Universal Health Services, Inc., Class B
  
11,173
90
  
Valassis Communications, Inc.
  
2,474
142
  
Vanguard Health Systems, Inc.(a)
  
2,112
251
  
VCA Antech, Inc.(a)
  
5,512
119
  
Vector Group Ltd.
  
1,910
304
  
Verisk Analytics, Inc., Class A(a)
  
17,790
464
  
Vertex Pharmaceuticals, Inc.(a)
  
21,724
74
  
Viad Corp.
  
2,032
356
  
Vical, Inc.(a)
  
1,139
207
  
ViroPharma, Inc.(a)
  
5,163
265
  
Vivus, Inc.(a) (b)
  
2,841
99
  
Volcano Corp.(a)
  
2,142
53
  
WD-40 Co.
  
2,873
85
  
Weight Watchers International, Inc.
  
3,641
31
  
Weis Markets, Inc.
  
1,254
84
  
WellCare Health Plans, Inc.(a)
  
4,804
69
  
West Pharmaceutical Services, Inc.
  
4,169
80
  
WEX, Inc.(a)
  
6,001
122
  
Wright Medical Group, Inc.(a)
  
2,837
227
  
XenoPort, Inc.(a)
  
1,734
179
  
Zipcar, Inc.(a)
  
2,189
       
1,234,224
         
   
Diversified - 0.0%*
    
402
  
Harbinger Group, Inc.(a)
  
3,445
         
   
Energy - 5.2%
    
575
  
Abraxas Petroleum Corp.(a) (b)
  
1,179
420
  
Amyris, Inc.(a)
  
1,231
109
  
Apco Oil and Gas International, Inc. (Cayman Islands)(a)
  
1,450
43
  
Approach Resources, Inc.(a)
  
1,064
128
  
Atwood Oceanics, Inc.(a)
  
6,547
99
  
Berry Petroleum Co., Class A
  
4,531
159
  
Bill Barrett Corp.(a)
  
2,870
558
  
BPZ Resources, Inc.(a) (b)
  
1,373
42
  
CARBO Ceramics, Inc.
  
3,814
88
  
Carrizo Oil & Gas, Inc.(a)
  
2,067
464
  
Cheniere Energy, Inc.(a)
  
9,883
183
  
Cimarex Energy Co.
  
12,318
20
  
Clayton Williams Energy, Inc.(a)
  
794
129
  
Clean Energy Fuels Corp.(a) (b)
  
1,623
123
  
Cloud Peak Energy, Inc.(a)
  
2,108
127
  
Comstock Resources, Inc.(a)
  
1,793
184
  
Concho Resources, Inc.(a)
  
16,553
51
  
Contango Oil & Gas Co.
  
1,977
133
  
Continental Resources, Inc.(a)
  
11,704
160
  
Crosstex Energy, Inc.
  
2,667
22
  
CVR Energy, Inc.
  
1,236
150
  
Dresser-Rand Group, Inc.(a)
  
9,249
90
  
Dril-Quip, Inc.(a)
  
7,401
227
  
Endeavour International Corp.(a)
  
574
142
  
Energen Corp.
  
6,566
223
  
Energy XXI Bermuda Ltd. (Bermuda)
  
6,630
150
  
EPL Oil & Gas, Inc.(a)
  
3,860
302
  
EXCO Resources, Inc.
  
2,005
172
  
Exterran Holdings, Inc.(a)
  
4,340
85
  
Flotek Industries, Inc.(a)
  
1,193
523
  
Forest Oil Corp.(a)
  
3,033
252
  
FX Energy, Inc.(a)
  
890
44
  
Geospace Technologies Corp.(a)
  
4,282
78
  
Goodrich Petroleum Corp.(a)
  
1,005
296
  
Green Plains Renewable Energy, Inc.(a)
  
2,803
132
  
Gulfport Energy Corp.(a)
  
5,405
154
  
Harvest Natural Resources, Inc.(a)
  
833
273
  
Helix Energy Solutions Group, Inc.(a)
  
6,391
590
  
Hercules Offshore, Inc.(a)
  
4,000
361
  
HollyFrontier Corp.
  
20,288
83
  
Hornbeck Offshore Services, Inc.(a)
  
3,527
387
  
ION Geophysical Corp.(a)
  
2,570
324
  
Key Energy Services, Inc.(a)
  
2,780
234
  
KiOR, Inc., Class A(a) (b)
  
1,289
575
  
Kodiak Oil & Gas Corp. (Canada)(a)
  
5,118
78
  
Lufkin Industries, Inc.
  
5,053
226
  
Magnum Hunter Resources Corp.(a)
  
875
353
  
McMoRan Exploration Co.(a)
  
5,680
285
  
Newpark Resources, Inc.(a)
  
2,511
127
  
Northern Oil and Gas, Inc.(a)
  
1,741
110
  
Oasis Petroleum, Inc.(a)
  
4,037
231
  
Oceaneering International, Inc.
  
14,689
96
  
Oil States International, Inc.(a)
  
7,310
340
  
Parker Drilling Co.(a)
  
1,618
446
  
Patterson-UTI Energy, Inc.
  
10,410
60
  
PDC Energy, Inc.(a)
  
2,798
269
  
Petroquest Energy, Inc.(a)
  
1,033
187
  
Pioneer Energy Services Corp.(a)
  
1,633
334
  
Plains Exploration & Production Co.(a)
  
15,154
426
  
Quicksilver Resources, Inc.(a)
  
792
175
  
Resolute Energy Corp.(a)
  
1,781
124
  
Rex Energy Corp.(a)
  
1,672
132
  
Rosetta Resources, Inc.(a)
  
6,426
262
  
RPC, Inc.(b)
  
4,239
972
  
SandRidge Energy, Inc.(a) (b)
  
5,540
49
  
SEACOR Holdings, Inc.
  
3,405
89
  
SemGroup Corp., Class A(a)
  
4,102
148
  
SM Energy Co.
  
8,566
127
  
Stone Energy Corp.(a)
  
2,597
137
  
SunCoke Energy, Inc.(a)
  
2,259
332
  
Superior Energy Services, Inc.(a)
  
8,781
83
  
Swift Energy Co.(a)
  
1,122
47
  
Targa Resources Corp.
  
2,867
117
  
Tesco Corp. (Canada)(a)
  
1,487
174
  
TETRA Technologies, Inc.(a)
  
1,606
277
  
Ultra Petroleum Corp. (Canada)(a)
  
4,726
89
  
Unit Corp.(a)
  
4,048
256
  
Vaalco Energy, Inc.(a)
  
2,076
1,352
  
Vantage Drilling Co. (Cayman Islands)(a)
  
2,204
75
  
W&T Offshore, Inc.
  
1,114
120
  
Walter Energy, Inc.
  
3,815
177
  
Western Refining, Inc.
  
6,353
270
  
Whiting Petroleum Corp.(a)
  
13,149
587
  
ZaZa Energy Corp.(a)
  
933
       
365,016
         
   
Financial - 23.6%
    
141
  
Acadia Realty Trust, REIT
  
3,796
131
  
Affiliated Managers Group, Inc.(a)
  
19,156
89
  
Air Lease Corp.
  
2,418
230
  
Aircastle Ltd. (Bermuda)
  
3,098
94
  
Alexander & Baldwin, Inc.(a)
  
3,312
7
  
Alexander's, Inc., REIT
  
2,272
129
  
Alexandria Real Estate Equities, Inc., REIT
  
9,177
21
  
Alleghany Corp.(a)
  
7,935
18
  
Allied World Assurance Co. Holdings AG (Switzerland)
  
1,581
200
  
Alterra Capital Holdings Ltd. (Bermuda)
  
6,128
10
  
Altisource Asset Management Corp. (U.S. Virgin Islands)(a)
  
1,297
43
  
Altisource Portfolio Solutions SA (Luxembourg)(a)
  
3,506
89
  
American Assets Trust, Inc., REIT
  
2,690
127
  
American Campus Communities, Inc., REIT
  
5,740
347
  
American Capital Agency Corp., REIT
  
11,007
806
  
American Capital Ltd.(a)
  
11,268
201
  
American Equity Investment Life Holding Co.
  
2,790
158
  
American Financial Group, Inc.
  
6,946
63
  
American National Insurance Co.
  
5,063
147
  
American Realty Capital Properties, Inc., REIT
  
1,945
467
  
American Spectrum Realty, Inc.(a)
  
913
113
  
Amtrust Financial Services, Inc.
  
3,757
2,098
  
Annaly Capital Management, Inc., REIT
  
32,498
487
  
Anworth Mortgage Asset Corp., REIT
  
2,971
388
  
Apollo Investment Corp.
  
3,372
375
  
Arbor Realty Trust, Inc., REIT
  
2,970
228
  
Arch Capital Group Ltd. (Bermuda)(a)
  
11,199
87
  
Argo Group International Holdings Ltd. (Bermuda)
  
3,304
301
  
ARMOUR Residential REIT, Inc., REIT
  
2,014
177
  
Arthur J Gallagher & Co.
  
6,811
300
  
Ashford Hospitality Trust, Inc., REIT
  
3,531
187
  
Aspen Insurance Holdings Ltd. (Bermuda)
  
6,706
386
  
Associated Banc-Corp.
  
5,555
146
  
Associated Estates Realty Corp., REIT
  
2,552
303
  
Assured Guaranty Ltd. (Bermuda)
  
5,657
171
  
Astoria Financial Corp.
  
1,672
187
  
AV Homes, Inc.(a)
  
2,809
225
  
Axis Capital Holdings Ltd. (Bermuda)
  
9,164
186
  
BancorpSouth, Inc.
  
2,846
95
  
Bank of Hawaii Corp.
  
4,597
169
  
Bank of South Carolina Corp.
  
1,987
114
  
Bank of the Ozarks, Inc.
  
4,376
91
  
Banner Corp.
  
2,704
192
  
BBCN Bancorp, Inc.
  
2,377
151
  
Beneficial Mutual Bancorp, Inc.(a)
  
1,448
232
  
BGC Partners, Inc., Class A
  
991
264
  
BioMed Realty Trust, Inc., REIT
  
5,576
41
  
BOK Financial Corp.
  
2,437
203
  
Boston Private Financial Holdings, Inc.
  
1,853
346
  
Brandywine Realty Trust, REIT
  
4,758
167
  
BRE Properties, Inc., REIT
  
8,118
102
  
Bridge Bancorp, Inc.
  
2,148
446
  
Brookfield Office Properties, Inc. (Canada)
  
7,444
195
  
Brookline Bancorp, Inc.
  
1,774
270
  
Brown & Brown, Inc.
  
8,100
172
  
Camden Property Trust, REIT
  
11,892
184
  
Campus Crest Communities, Inc., REIT
  
2,307
172
  
Capital City Bank Group, Inc.(a)
  
1,969
664
  
Capital Trust, Inc., Class A, REIT
  
1,501
720
  
CapitalSource, Inc.
  
6,480
270
  
Capitol Federal Financial, Inc.
  
3,194
277
  
Capstead Mortgage Corp., REIT
  
3,474
235
  
Cathay General Bancorp
  
4,580
362
  
CBL & Associates Properties, Inc., REIT
  
8,232
406
  
Cedar Realty Trust, Inc., REIT
  
2,330
174
  
Central Pacific Financial Corp.(a)
  
2,695
89
  
Chemical Financial Corp.
  
2,180
248
  
Chesapeake Lodging Trust, REIT
  
5,339
2,453
  
Chimera Investment Corp., REIT
  
7,310
449
  
CIT Group, Inc.(a)
  
18,795
199
  
Citizens Republic Bancorp, Inc.(a)
  
4,099
62
  
City Holding Co.
  
2,351
84
  
City National Corp.
  
4,772
48
  
CNA Financial Corp.
  
1,514
616
  
CNO Financial Group, Inc.
  
6,739
59
  
Cohen & Steers, Inc.
  
1,945
205
  
Colonial Properties Trust, REIT
  
4,420
152
  
Colony Financial, Inc., REIT
  
3,367
89
  
Columbia Banking System, Inc.
  
1,780
176
  
Commerce Bancshares, Inc.
  
6,704
221
  
CommonWealth REIT, REIT
  
5,580
99
  
Community Bank System, Inc.
  
2,858
73
  
Community Trust Bancorp, Inc.
  
2,491
84
  
Coresite Realty Corp., REIT
  
2,722
253
  
Corporate Office Properties Trust, REIT
  
6,545
245
  
Corrections Corp. of America, REIT
  
9,396
345
  
Cousins Properties, Inc., REIT
  
3,353
34
  
Credit Acceptance Corp.(a)
  
3,758
238
  
CreXus Investment Corp., REIT
  
3,168
309
  
CubeSmart, REIT
  
4,555
113
  
Cullen/Frost Bankers, Inc.
  
6,843
288
  
CVB Financial Corp.
  
3,053
270
  
CYS Investments, Inc., REIT
  
3,202
609
  
DCT Industrial Trust, Inc., REIT
  
4,421
493
  
DDR Corp., REIT
  
8,514
104
  
DFC Global Corp.(a)
  
1,943
388
  
DiamondRock Hospitality Co., REIT
  
3,469
212
  
Digital Realty Trust, Inc., REIT
  
14,200
144
  
Dime Community Bancshares, Inc.
  
2,046
294
  
Douglas Emmett, Inc., REIT
  
7,206
146
  
Duff & Phelps Corp., Class A
  
2,269
608
  
Duke Realty Corp., REIT
  
9,825
168
  
DuPont Fabros Technology, Inc., REIT
  
3,891
230
  
Dynex Capital, Inc., REIT
  
2,491
397
  
East West Bancorp, Inc.
  
9,766
77
  
EastGroup Properties, Inc., REIT
  
4,374
219
  
Eaton Vance Corp.
  
8,364
293
  
Education Realty Trust, Inc., REIT
  
3,197
72
  
Ellie Mae, Inc.(a)
  
1,462
145
  
Employers Holdings, Inc.
  
3,046
94
  
Encore Capital Group, Inc.(a)
  
2,778
119
  
Endurance Specialty Holdings Ltd. (Bermuda)
  
5,241
26
  
Enstar Group Ltd. (Bermuda)(a)
  
3,259
115
  
Enterprise Financial Services Corp.
  
1,608
81
  
Epoch Holding Corp.
  
2,264
88
  
EPR Properties, REIT
  
4,294
105
  
Equity Lifestyle Properties, Inc., REIT
  
7,737
80
  
Equity One, Inc., REIT
  
1,881
64
  
Erie Indemnity Co., Class A
  
4,685
81
  
Essex Property Trust, Inc., REIT
  
12,068
57
  
Evercore Partners, Inc., Class A
  
2,320
117
  
Everest Re Group Ltd. (Bermuda)
  
14,579
249
  
Extra Space Storage, Inc., REIT
  
9,323
5,261
  
Fannie Mae(a)
  
1,478
50
  
FBL Financial Group, Inc., Class A
  
1,817
111
  
Federal Realty Investment Trust, REIT
  
11,789
439
  
FelCor Lodging Trust, Inc., REIT(a)
  
2,204
566
  
Fidelity National Financial, Inc., Class A
  
14,116
193
  
Fifth Street Finance Corp.
  
2,065
88
  
Financial Engines, Inc.
  
2,876
247
  
First American Financial Corp.
  
6,000
461
  
First BanCorp (Puerto Rico)(a)
  
2,522
18
  
First Citizens BancShares, Inc., Class A
  
3,232
506
  
First Commonwealth Financial Corp.
  
3,679
147
  
First Financial Bancorp
  
2,254
82
  
First Financial Bankshares, Inc.(b)
  
3,657
279
  
First Industrial Realty Trust, Inc., REIT
  
4,428
290
  
First Midwest Bancorp, Inc.
  
3,625
983
  
First Niagara Financial Group, Inc.
  
8,041
140
  
First Potomac Realty Trust, REIT
  
1,978
192
  
FirstMerit Corp.
  
2,903
334
  
FNB Corp.
  
3,794
131
  
FNB United Corp.(a)
  
1,331
366
  
Forest City Enterprises, Inc., Class A(a)
  
5,871
297
  
Forestar Group, Inc.(a)
  
5,174
187
  
Franklin Street Properties Corp., REIT
  
2,571
452
  
Fulton Financial Corp.
  
5,130
205
  
FXCM, Inc., Class A
  
2,696
1,954
  
General Growth Properties, Inc., REIT
  
37,400
137
  
Geo Group, Inc., REIT
  
4,732
72
  
Getty Realty Corp., REIT
  
1,431
183
  
Glacier Bancorp, Inc.
  
3,192
306
  
Glimcher Realty Trust, REIT
  
3,446
99
  
Government Properties Income Trust, REIT
  
2,620
575
  
Gramercy Capital Corp., REIT(a)
  
2,196
54
  
Greenhill & Co., Inc.
  
3,282
162
  
GSV Capital Corp.(a)
  
1,349
687
  
Hampton Roads Bankshares, Inc.(a)
  
907
180
  
Hancock Holding Co.
  
5,436
119
  
Hanover Insurance Group, Inc.
  
5,079
122
  
Harleysville Savings Financial Corp.
  
2,154
135
  
Hatteras Financial Corp., REIT
  
3,603
252
  
HCC Insurance Holdings, Inc.
  
10,080
272
  
Healthcare Realty Trust, Inc., REIT
  
7,235
202
  
Healthcare Trust of America, Inc., Class A, REIT
  
2,319
996
  
Hersha Hospitality Trust, REIT
  
5,588
127
  
HFF, Inc., Class A
  
2,332
101
  
Higher One Holdings, Inc.(a)
  
903
156
  
Highwoods Properties, Inc., REIT
  
5,694
164
  
Hilltop Holdings, Inc.(a)
  
2,106
104
  
Home BancShares, Inc.
  
3,520
79
  
Home Properties, Inc., REIT
  
4,931
135
  
Horace Mann Educators Corp.
  
2,762
171
  
Horizon Bancorp
  
3,468
290
  
Hospitality Properties Trust, REIT
  
7,743
57
  
Howard Hughes Corp.(a)
  
4,377
211
  
Hudson Pacific Properties, Inc., REIT
  
4,762
68
  
Iberiabank Corp.
  
3,414
345
  
Independent Bank Corp.(a)
  
2,039
79
  
Independent Bank Corp.
  
2,504
48
  
Infinity Property & Casualty Corp.
  
2,697
290
  
Inland Real Estate Corp., REIT
  
2,801
179
  
Interactive Brokers Group, Inc., Class A
  
2,633
150
  
International Bancshares Corp.
  
3,037
77
  
International FCStone, Inc.(a)
  
1,374
164
  
Invesco Mortgage Capital, Inc., REIT
  
3,447
329
  
Investors Bancorp, Inc.
  
5,813
357
  
Investors Real Estate Trust, REIT
  
3,395
386
  
iStar Financial, Inc., REIT(a)
  
3,856
254
  
Janus Capital Group, Inc.
  
2,352
383
  
Jefferies Group, LLC
  
8,319
88
  
Jones Lang LaSalle, Inc.
  
8,504
128
  
Kemper Corp.
  
4,050
117
  
Kilroy Realty Corp., REIT
  
6,173
598
  
Ladenburg Thalmann Financial Services, Inc.(a)
  
777
195
  
LaSalle Hotel Properties, REIT
  
4,951
309
  
Lexington Realty Trust, REIT
  
3,541
238
  
Liberty Property Trust, REIT
  
9,232
78
  
LTC Properties, Inc., REIT
  
3,008
311
  
Macerich Co., REIT
  
18,694
181
  
Mack-Cali Realty Corp., REIT
  
5,137
224
  
Maiden Holdings Ltd. (Bermuda)
  
2,258
113
  
Main Street Capital Corp.
  
3,608
20
  
Markel Corp.(a)
  
9,669
103
  
MarketAxess Holdings, Inc.
  
4,023
122
  
MB Financial, Inc.
  
2,893
260
  
MBIA, Inc.(a)
  
2,514
691
  
MCG Capital Corp.
  
3,109
232
  
Meadowbrook Insurance Group, Inc.
  
1,631
241
  
Medical Properties Trust, Inc., REIT
  
3,499
74
  
Merchants Bancshares, Inc.
  
2,134
54
  
Mercury General Corp.
  
2,099
496
  
MFA Financial, Inc., REIT
  
4,404
733
  
MGIC Investment Corp.(a)
  
2,184
101
  
Mid-America Apartment Communities, Inc., REIT
  
7,013
192
  
Monmouth Real Estate Investment Corp., Class A, REIT
  
2,143
123
  
Montpelier RE Holdings Ltd. (Bermuda)
  
3,041
732
  
MPG Office Trust, Inc., REIT(a)
  
1,896
142
  
National Financial Partners Corp.(a)
  
2,792
63
  
National Health Investors, Inc., REIT
  
4,082
355
  
National Penn Bancshares, Inc.
  
3,479
162
  
National Retail Properties, Inc., REIT
  
5,581
46
  
Navigators Group, Inc.(a)
  
2,583
105
  
NBT Bancorp, Inc.
  
2,148
122
  
Nelnet, Inc., Class A
  
4,048
840
  
New York Community Bancorp, Inc.
  
11,340
216
  
New York Mortgage Trust, Inc., REIT
  
1,521
516
  
Newcastle Investment Corp., REIT
  
5,759
157
  
NewStar Financial, Inc.(a)
  
2,124
571
  
NorthStar Realty Finance Corp., REIT
  
5,110
220
  
Northwest Bancshares, Inc.
  
2,748
193
  
Ocean Shore Holding Co.
  
2,934
196
  
Ocwen Financial Corp.(a)
  
7,726
249
  
Old National Bancorp
  
3,361
479
  
Old Republic International Corp.
  
5,753
151
  
Omega Healthcare Investors, Inc., REIT
  
4,226
89
  
One Liberty Properties, Inc., REIT
  
1,933
93
  
Oppenheimer Holdings, Inc., Class A
  
1,758
349
  
Oriental Financial Group, Inc. (Puerto Rico)
  
5,343
103
  
PacWest Bancorp
  
2,815
46
  
Park National Corp.
  
3,035
316
  
Parkway Properties, Inc., REIT
  
5,344
144
  
PartnerRe Ltd. (Bermuda)
  
12,851
137
  
Pebblebrook Hotel Trust, REIT
  
3,276
207
  
Pennsylvania Real Estate Investment Trust, REIT
  
3,736
106
  
PennyMac Mortgage Investment Trust, REIT
  
2,695
343
  
Piedmont Office Realty Trust, Inc., Class A, REIT
  
6,743
122
  
Pinnacle Financial Partners, Inc.(a)
  
2,649
58
  
Piper Jaffray Cos.(a)
  
2,237
112
  
Platinum Underwriters Holdings Ltd. (Bermuda)
  
5,923
208
  
PMC Commercial Trust, REIT
  
1,458
352
  
Popular, Inc. (Puerto Rico)(a)
  
9,828
36
  
Portfolio Recovery Associates, Inc.(a)
  
4,209
149
  
Post Properties, Inc., REIT
  
7,113
146
  
Potlatch Corp., REIT
  
6,425
174
  
Power REIT, REIT
  
1,844
317
  
Preferred Apartment Communities, Inc., Class A, REIT
  
2,771
84
  
Primerica, Inc.
  
2,643
283
  
PrivateBancorp, Inc.
  
5,069
146
  
ProAssurance Corp.
  
6,846
202
  
ProLogis, Inc., REIT
  
7,866
97
  
Prosperity Bancshares, Inc.
  
4,476
201
  
Protective Life Corp.
  
6,416
177
  
Provident Financial Services, Inc.
  
2,653
47
  
PS Business Parks, Inc., REIT
  
3,478
605
  
Radian Group, Inc.
  
5,330
338
  
Rait Financial Trust, REIT
  
2,447
141
  
Ramco-Gershenson Properties Trust, REIT
  
2,228
226
  
Raymond James Financial, Inc.
  
9,917
190
  
Rayonier, Inc., REIT
  
10,615
194
  
Realty Income Corp., REIT
  
8,856
186
  
Redwood Trust, Inc., REIT
  
3,768
204
  
Regency Centers Corp., REIT
  
10,584
152
  
Reinsurance Group of America, Inc.
  
8,740
106
  
RenaissanceRe Holdings Ltd. (Bermuda)
  
9,269
280
  
Resource Capital Corp., REIT
  
1,904
48
  
RLI Corp.
  
3,309
135
  
RLJ Lodging Trust, REIT
  
2,888
108
  
S&T Bancorp, Inc.
  
1,950
353
  
Sabra Health Care REIT, Inc., REIT
  
9,330
49
  
Safety Insurance Group, Inc.
  
2,303
130
  
Sandy Spring Bancorp, Inc.
  
2,517
67
  
Saul Centers, Inc., REIT
  
2,932
56
  
SCBT Financial Corp.
  
2,667
365
  
SEI Investments Co.
  
10,319
147
  
Selective Insurance Group, Inc.
  
3,269
279
  
Senior Housing Properties Trust, REIT
  
7,000
377
  
Shore Bancshares, Inc.(a)
  
2,518
81
  
Signature Bank(a)
  
6,016
71
  
Simmons First National Corp., Class A
  
1,785
187
  
SL Green Realty Corp., REIT
  
15,263
83
  
Sovran Self Storage, Inc., REIT
  
5,050
239
  
St Joe Co.(a)
  
5,330
123
  
StanCorp Financial Group, Inc.
  
4,897
238
  
Starwood Property Trust, Inc., REIT
  
6,652
120
  
State Bank Financial Corp.
  
1,908
79
  
Steel Excel, Inc.(a)
  
1,995
188
  
Sterling Financial Corp.
  
3,982
133
  
Stifel Financial Corp.(a)
  
4,594
496
  
Strategic Hotels & Resorts, Inc., REIT(a)
  
3,611
95
  
Suffolk Bancorp(a)
  
1,338
164
  
Summit Hotel Properties, Inc., REIT
  
1,574
95
  
Sun Communities, Inc., REIT
  
4,420
293
  
Sunstone Hotel Investors, Inc., REIT(a)
  
3,320
688
  
Susquehanna Bancshares, Inc.
  
8,001
90
  
SVB Financial Group(a)
  
6,035
89
  
SY Bancorp, Inc.
  
2,016
105
  
Symetra Financial Corp.
  
1,383
1,317
  
Synovus Financial Corp.
  
3,345
242
  
Tanger Factory Outlet Centers, REIT
  
8,540
120
  
Taubman Centers, Inc., REIT
  
9,206
356
  
TCF Financial Corp.
  
4,891
581
  
TD Ameritrade Holding Corp.
  
11,045
160
  
Terreno Realty Corp., REIT
  
2,864
122
  
Texas Capital Bancshares, Inc.(a)
  
5,156
98
  
TFS Financial Corp.(a)
  
1,030
426
  
Thomas Properties Group, Inc.
  
2,219
49
  
Tompkins Financial Corp.
  
2,030
123
  
Tower Group, Inc.
  
2,294
131
  
TowneBank
  
1,905
300
  
TrustCo Bank Corp. NY
  
1,563
129
  
Trustmark Corp.
  
2,954
269
  
U.S. Global Investors, Inc., Class A
  
1,022
523
  
UDR, Inc., REIT
  
12,479
78
  
UMB Financial Corp.
  
3,556
204
  
Umpqua Holdings Corp.
  
2,560
102
  
Union Bankshares, Inc.
  
2,093
196
  
Union First Market Bankshares Corp.
  
3,557
232
  
United Bancorp, Inc.
  
1,521
108
  
United Bankshares, Inc.
  
2,808
111
  
United Community Banks, Inc.(a)
  
1,195
86
  
United Fire Group, Inc.
  
2,114
60
  
Universal Health Realty Income Trust, REIT
  
3,427
106
  
Urstadt Biddle Properties, Inc., Class A, REIT
  
2,240
229
  
Validus Holdings Ltd. (Bermuda)
  
8,159
386
  
Valley National Bancorp(b)
  
3,872
169
  
Ventas, Inc., REIT
  
11,962
21
  
Virtus Investment Partners, Inc.(a)
  
3,528
196
  
Waddell & Reed Financial, Inc., Class A
  
8,040
94
  
Walter Investment Management Corp., REIT(a)
  
4,316
283
  
Washington Federal, Inc.
  
4,967
133
  
Washington Real Estate Investment Trust, REIT
  
3,683
220
  
Webster Financial Corp.
  
4,844
300
  
Weingarten Realty Investors, REIT
  
9,195
105
  
WesBanco, Inc.
  
2,456
67
  
Westamerica Bancorporation
  
2,965
266
  
Western Alliance Bancorp(a)
  
3,538
17
  
White Mountains Insurance Group Ltd. (Bermuda)
  
9,605
179
  
Whitestone REIT, Class B, REIT
  
2,640
435
  
Winthrop Realty Trust, REIT
  
5,459
64
  
Wintrust Financial Corp.
  
2,336
42
  
World Acceptance Corp.(a)
  
3,305
252
  
WR Berkley Corp.
  
10,458
605
  
ZipRealty, Inc.(a)
  
2,323
       
1,671,715
         
   
Industrial - 14.2%
    
96
  
AAR Corp.
  
1,687
171
  
Actuant Corp., Class A
  
5,200
64
  
Acuity Brands, Inc.
  
4,360
168
  
Advanced Energy Industries, Inc.(a)
  
3,031
240
  
AECOM Technology Corp.(a)
  
7,274
102
  
Aegion Corp.(a)
  
2,451
64
  
Aerovironment, Inc.(a)
  
1,416
250
  
AGCO Corp.
  
12,870
242
  
Air T, Inc.
  
2,323
358
  
Air Transport Services Group, Inc.(a)
  
1,976
91
  
Albany International Corp., Class A
  
2,599
88
  
Alliant Techsystems, Inc.
  
5,790
20
  
AMERCO, Inc.
  
3,014
69
  
American Railcar Industries, Inc.
  
3,011
27
  
American Science & Engineering, Inc.
  
1,689
529
  
AMETEK, Inc.
  
22,128
42
  
Analogic Corp.
  
3,116
85
  
AO Smith Corp.
  
6,080
84
  
Applied Industrial Technologies, Inc.
  
3,646
138
  
Aptargroup, Inc.
  
7,444
57
  
Armstrong World Industries, Inc.
  
2,914
71
  
Astec Industries, Inc.
  
2,528
64
  
Atlas Air Worldwide Holdings, Inc.(a)
  
3,020
307
  
Avnet, Inc.(a)
  
10,840
97
  
AVX Corp.
  
1,143
94
  
AZZ, Inc.
  
4,198
207
  
B/E Aerospace, Inc.(a)
  
10,890
249
  
Babcock & Wilcox Co.
  
6,728
49
  
Badger Meter, Inc.
  
2,487
125
  
Barnes Group, Inc.
  
3,326
105
  
Belden, Inc.
  
5,288
118
  
Benchmark Electronics, Inc.(a)
  
2,056
159
  
Blount International, Inc.(a)
  
2,396
90
  
Brady Corp., Class A
  
3,064
101
  
Briggs & Stratton Corp.
  
2,470
57
  
Bristow Group, Inc.
  
3,321
150
  
Calgon Carbon Corp.(a)
  
2,559
1,157
  
Capstone Turbine Corp.(a)
  
1,122
105
  
Carlisle Cos., Inc.
  
7,126
138
  
Celadon Group
  
2,750
87
  
Chart Industries, Inc.(a)
  
6,313
20
  
Chicago Bridge & Iron Co. NV (Netherlands)
  
1,072
57
  
CIRCOR International, Inc.
  
2,376
103
  
CLARCOR, Inc.
  
5,252
80
  
Clean Harbors, Inc.(a)
  
4,120
103
  
Cognex Corp.
  
4,243
68
  
Coherent, Inc.
  
3,928
135
  
Colfax Corp.(a)
  
5,859
104
  
Con-way, Inc.
  
3,656
285
  
Covanta Holding Corp.
  
5,575
113
  
Crane Co.
  
6,077
348
  
Crown Holdings, Inc.(a)
  
13,527
217
  
CTS Corp.
  
2,127
48
  
Cubic Corp.
  
2,004
84
  
Curtiss-Wright Corp.
  
2,916
71
  
Cymer, Inc.(a)
  
7,020
209
  
Daktronics, Inc.
  
2,134
200
  
Darling International, Inc.(a)
  
3,338
254
  
Donaldson Co., Inc.
  
9,152
79
  
Drew Industries, Inc.
  
2,874
95
  
Ducommun, Inc.(a)
  
1,472
148
  
Dycom Industries, Inc.(a)
  
3,101
103
  
Eagle Materials, Inc.
  
6,624
150
  
EMCOR Group, Inc.
  
5,785
82
  
Encore Wire Corp.
  
2,681
165
  
Energizer Holdings, Inc.
  
15,168
113
  
EnerSys, Inc.(a)
  
4,619
57
  
EnPro Industries, Inc.(a)
  
2,652
49
  
Era Group, Inc.(a)
  
989
57
  
ESCO Technologies, Inc.
  
2,312
70
  
Esterline Technologies Corp.(a)
  
4,825
479
  
Exelis, Inc.
  
4,943
58
  
Exponent, Inc.
  
2,916
66
  
FARO Technologies, Inc.(a)
  
2,795
104
  
FEI Co.
  
6,587
414
  
Fortune Brands Home & Security, Inc.(a)
  
14,304
72
  
Forward Air Corp.
  
2,716
60
  
Franklin Electric Co., Inc.
  
3,904
118
  
Gardner Denver, Inc.
  
8,377
82
  
GATX Corp.
  
4,088
142
  
General Cable Corp.(a)
  
4,677
120
  
Genesee & Wyoming, Inc., Class A(a)
  
10,742
371
  
Gentex Corp.
  
6,956
82
  
Gorman-Rupp Co.
  
2,365
124
  
Graco, Inc.
  
7,204
317
  
GrafTech International Ltd.(a)
  
2,343
81
  
Granite Construction, Inc.
  
2,518
197
  
Graphic Packaging Holding Co.(a)
  
1,462
58
  
Greenbrier Cos., Inc.(a)
  
1,175
72
  
Greif, Inc., Class A
  
3,663
194
  
Griffon Corp.
  
2,186
79
  
Gulfmark Offshore, Inc., Class A
  
2,822
170
  
Harsco Corp.
  
4,077
34
  
Haynes International, Inc.
  
1,751
107
  
Heartland Express, Inc.
  
1,452
542
  
Heckmann Corp.(a) (b)
  
1,930
102
  
HEICO Corp., Class A
  
3,397
219
  
Hexcel Corp.(a)
  
5,968
144
  
Hillenbrand, Inc.
  
3,555
84
  
Hub Group, Inc., Class A(a)
  
3,169
75
  
Hubbell, Inc., Class B
  
6,968
117
  
Huntington Ingalls Industries
  
5,621
18
  
Hyster-Yale Materials
  
922
171
  
IDEX Corp.
  
8,709
146
  
II-VI, Inc.(a)
  
2,530
103
  
iRobot Corp.(a)
  
2,208
108
  
Itron, Inc.(a)
  
4,544
174
  
ITT Corp.
  
4,581
216
  
JB Hunt Transport Services, Inc.
  
15,016
87
  
John Bean Technologies Corp.
  
1,603
80
  
Kaman Corp.
  
2,792
250
  
Kansas City Southern
  
25,742
80
  
Kaydon Corp.
  
2,001
311
  
KBR, Inc.
  
9,451
173
  
Kennametal, Inc.
  
7,003
106
  
Kirby Corp.(a)
  
8,054
119
  
Knight Transportation, Inc.
  
1,864
58
  
Koppers Holdings, Inc.
  
2,406
238
  
Kratos Defense & Security Solutions, Inc.(a)
  
1,007
104
  
Landstar System, Inc.
  
5,854
64
  
Layne Christensen Co.(a)
  
1,407
86
  
Lennox International, Inc.
  
5,080
1,718
  
Lime Energy Co.(a)
  
1,306
194
  
Lincoln Electric Holdings, Inc.
  
10,874
43
  
Lindsay Corp.
  
3,674
55
  
Littelfuse, Inc.
  
3,639
314
  
Louisiana-Pacific Corp.(a)
  
6,585
58
  
LSB Industries, Inc.(a)
  
2,247
346
  
Manitowoc Co., Inc.
  
6,408
91
  
Marten Transport
  
1,884
97
  
Martin Marietta Materials, Inc.
  
9,422
150
  
MasTec, Inc.(a)
  
4,513
94
  
Matson, Inc.
  
2,417
499
  
McDermott International, Inc. (Panama)(a)
  
6,347
61
  
Mettler-Toledo International, Inc.(a)
  
12,981
98
  
Michael Baker Corp.
  
2,376
52
  
Middleby Corp.(a)
  
7,764
79
  
Mine Safety Appliances Co.
  
3,701
69
  
Moog, Inc., Class A(a)
  
3,102
92
  
Mueller Industries, Inc.
  
4,893
545
  
Mueller Water Products, Inc., Class A
  
3,063
94
  
MYR Group, Inc.(a)
  
2,182
18
  
NACCO Industries, Inc., Class A
  
1,046
190
  
National Instruments Corp.
  
5,715
14
  
National Presto Industries, Inc.
  
1,064
122
  
Newport Corp.(a)
  
1,995
114
  
Nordson Corp.
  
7,228
168
  
Old Dominion Freight Line, Inc.(a)
  
6,040
136
  
Orbital Sciences Corp.(a)
  
2,010
54
  
OSI Systems, Inc.(a)
  
3,112
239
  
Owens Corning(a)
  
9,276
223
  
Packaging Corp. of America
  
9,317
64
  
Park Electrochemical Corp.
  
1,619
12
  
Pentair Ltd. (Switzerland)
  
639
78
  
Plexus Corp.(a)
  
1,900
128
  
Polypore International, Inc.(a) (b)
  
4,900
450
  
Power-One, Inc.(a)
  
1,917
202
  
Quality Distribution, Inc.(a)
  
1,594
106
  
Quanex Building Products Corp.
  
2,110
136
  
Raven Industries, Inc.
  
3,839
80
  
RBC Bearings, Inc.(a)
  
3,987
66
  
Regal-Beloit Corp.
  
5,100
119
  
Rock-Tenn Co., Class A
  
10,526
98
  
Rofin-Sinar Technologies, Inc.(a)
  
2,604
52
  
Rogers Corp.(a)
  
2,481
80
  
RTI International Metals, Inc.(a)
  
2,374
176
  
Sanmina Corp.(a)
  
1,802
55
  
Sauer-Danfoss, Inc.
  
2,977
139
  
Ship Finance International Ltd. (Bermuda)
  
2,350
118
  
Silgan Holdings, Inc.
  
5,066
92
  
Simpson Manufacturing Co., Inc.
  
2,677
208
  
Smith & Wesson Holding Corp.(a) (b)
  
1,986
196
  
Sonoco Products Co.
  
6,227
188
  
Spirit Aerosystems Holdings, Inc., Class A(a)
  
3,273
118
  
SPX Corp.
  
9,500
302
  
Stoneridge, Inc.(a)
  
1,948
47
  
Sturm Ruger & Co., Inc.
  
2,567
84
  
Sun Hydraulics Corp.
  
2,343
374
  
SunPower Corp.(a)
  
4,391
283
  
Swift Transportation Co.(a)
  
3,829
67
  
TAL International Group, Inc.
  
2,884
248
  
Taser International, Inc.(a)
  
1,848
83
  
Tech Data Corp.(a)
  
4,404
87
  
Teekay Corp. (Marshall Islands)
  
3,019
69
  
Teledyne Technologies, Inc.(a)
  
5,077
70
  
Tennant Co.
  
3,267
259
  
Terex Corp.(a)
  
8,498
127
  
Tetra Tech, Inc.(a)
  
3,665
52
  
Texas Industries, Inc.(a)
  
3,019
61
  
Textainer Group Holdings Ltd. (Bermuda)
  
2,467
117
  
Tidewater, Inc.
  
5,538
218
  
Timken Co.
  
11,842
106
  
TransDigm Group, Inc.
  
15,088
100
  
Tredegar Corp.
  
2,448
60
  
Trex Co., Inc.(a)
  
2,834
89
  
Trimas Corp.(a)
  
2,553
243
  
Trimble Navigation Ltd.(a)
  
14,441
191
  
Trinity Industries, Inc.
  
8,259
78
  
Triumph Group, Inc.
  
5,726
252
  
TTM Technologies, Inc.(a)
  
2,066
90
  
Tutor Perini Corp.(a)
  
1,531
72
  
Twin Disc, Inc.
  
1,721
132
  
Universal Display Corp.(a)
  
4,142
48
  
Universal Forest Products, Inc.
  
1,948
190
  
URS Corp.
  
8,029
172
  
USG Corp.(a)
  
4,854
232
  
UTi Worldwide, Inc. (British Virgin Islands)
  
3,533
51
  
Valmont Industries, Inc.
  
8,035
377
  
Vishay Intertechnology, Inc.(a)
  
4,973
107
  
Wabtec Corp.
  
10,464
220
  
Waste Connections, Inc.
  
7,526
62
  
Watts Water Technologies, Inc., Class A
  
2,910
100
  
Werner Enterprises, Inc.
  
2,302
149
  
Woodward, Inc.
  
5,577
150
  
Worthington Industries, Inc.
  
4,251
121
  
XPO Logistics, Inc.(a)
  
2,108
127
  
Zebra Technologies Corp., Class A(a)
  
5,679
       
1,005,760
         
   
Technology - 7.6%
    
141
  
3D Systems Corp.(a)
  
5,211
102
  
ACI Worldwide, Inc.(a)
  
4,673
1,040
  
Activision Blizzard, Inc.
  
14,872
181
  
Acxiom Corp.(a)
  
3,296
120
  
Advent Software, Inc.(a)
  
3,144
407
  
Allscripts Healthcare Solutions, Inc.(a)
  
5,177
288
  
Amkor Technology, Inc.(a)
  
1,166
207
  
ANSYS, Inc.(a)
  
15,691
295
  
Applied Micro Circuits Corp.(a)
  
2,345
219
  
Aspen Technology, Inc.(a)
  
6,736
70
  
athenahealth, Inc.(a)
  
6,565
923
  
Atmel Corp.(a)
  
6,276
106
  
ATMI, Inc.(a)
  
2,321
117
  
Avid Technology, Inc.(a)
  
811
438
  
AXT, Inc.(a)
  
1,248
76
  
Blackbaud, Inc.
  
2,113
107
  
Bottomline Technologies de, Inc.(a)
  
2,903
314
  
Broadridge Financial Solutions, Inc.
  
7,206
1,198
  
Brocade Communications Systems, Inc.(a)
  
6,721
172
  
Brooks Automation, Inc.
  
1,739
54
  
Cabot Microelectronics Corp.
  
1,845
65
  
CACI International, Inc., Class A(a)
  
3,299
587
  
Cadence Design Systems, Inc.(a)
  
8,312
138
  
Cavium, Inc.(a)
  
5,095
57
  
Ceva, Inc.(a)
  
862
114
  
Cirrus Logic, Inc.(a)
  
2,741
97
  
CommVault Systems, Inc.(a)
  
7,173
45
  
Computer Programs & Systems, Inc.
  
2,346
468
  
Compuware Corp.(a)
  
5,434
85
  
Concur Technologies, Inc.(a)
  
5,967
233
  
Cree, Inc.(a)
  
10,539
104
  
CSG Systems International, Inc.(a)
  
2,019
320
  
Cypress Semiconductor Corp.
  
3,370
163
  
Diebold, Inc.
  
4,603
89
  
Digital River, Inc.(a)
  
1,267
90
  
Diodes, Inc.(a)
  
1,794
92
  
DST Systems, Inc.
  
6,249
242
  
Dynamics Research Corp.(a)
  
1,430
114
  
Ebix, Inc.(b)
  
1,827
124
  
Electronics for Imaging, Inc.(a)
  
2,859
236
  
Emulex Corp.(a)
  
1,522
428
  
Entegris, Inc.(a)
  
4,070
315
  
Entropic Communications, Inc.(a)
  
1,389
85
  
Fair Isaac Corp.
  
3,769
297
  
Fairchild Semiconductor International, Inc.(a)
  
4,235
264
  
FormFactor, Inc.(a)
  
1,325
248
  
Fortinet, Inc.(a)
  
5,997
48
  
Fusion-io, Inc.(a)
  
810
436
  
GT Advanced Technologies, Inc.(a)
  
1,247
77
  
Hittite Microwave Corp.(a)
  
4,991
54
  
iGATE Corp.(a)
  
1,032
114
  
IHS, Inc., Class A(a)
  
12,113
210
  
Informatica Corp.(a)
  
7,352
118
  
Insight Enterprises, Inc.(a)
  
2,268
449
  
Integrated Device Technology, Inc.(a)
  
3,053
72
  
Interactive Intelligence Group, Inc.(a)
  
2,996
148
  
International Rectifier Corp.(a)
  
3,111
268
  
Intersil Corp., Class A
  
2,275
110
  
j2 Global, Inc.
  
3,925
181
  
Jack Henry & Associates, Inc.
  
7,913
225
  
Kulicke & Soffa Industries, Inc.(a)
  
2,435
25
  
Lam Research Corp.(a)
  
1,058
588
  
Lattice Semiconductor Corp.(a)
  
2,752
94
  
Lexmark International, Inc., Class A
  
2,070
234
  
LivePerson, Inc.(a)
  
3,386
66
  
Manhattan Associates, Inc.(a)
  
4,611
559
  
Marvell Technology Group Ltd. (Bermuda)
  
5,646
388
  
Maxim Integrated Products, Inc.
  
12,098
93
  
Maxwell Technologies, Inc.(a)
  
814
154
  
MedAssets, Inc.(a)
  
2,844
123
  
Medidata Solutions, Inc.(a)
  
6,411
270
  
Mentor Graphics Corp.(a)
  
4,782
180
  
Micrel, Inc.
  
1,894
173
  
MICROS Systems, Inc.(a)
  
7,404
197
  
Microsemi Corp.(a)
  
4,064
21
  
MicroStrategy, Inc., Class A(a)
  
2,140
467
  
Mitek Systems, Inc.(a)
  
2,008
125
  
MKS Instruments, Inc.
  
3,393
103
  
Monolithic Power Systems, Inc.
  
2,533
274
  
MSCI, Inc., Class A(a)
  
9,078
59
  
MTS Systems Corp.
  
3,186
342
  
NCR Corp.(a)
  
9,432
112
  
Netscout Systems, Inc.(a)
  
2,848
114
  
NetSuite, Inc.(a)
  
7,956
587
  
Nuance Communications, Inc.(a)
  
10,807
106
  
Omnicell, Inc.(a)
  
1,910
136
  
OmniVision Technologies, Inc.(a)
  
2,096
827
  
ON Semiconductor Corp.(a)
  
6,616
46
  
Pegasystems, Inc.
  
1,260
459
  
PMC - Sierra, Inc.(a)
  
2,979
57
  
Power Integrations, Inc.
  
2,383
130
  
Progress Software Corp.(a)
  
2,928
244
  
PTC, Inc.(a)
  
5,646
185
  
QLIK Technologies, Inc.(a)
  
4,810
175
  
QLogic Corp.(a)
  
1,992
82
  
Quality Systems, Inc.
  
1,519
639
  
Quantum Corp.(a)
  
805
153
  
RealD, Inc.(a) (b)
  
1,781
80
  
Realpage, Inc.(a)
  
1,733
204
  
Rimage Corp.
  
1,391
311
  
Riverbed Technology, Inc.(a)
  
4,752
246
  
Rovi Corp.(a)
  
4,376
149
  
Semtech Corp.(a)
  
4,555
213
  
Sigma Designs, Inc.(a)
  
990
128
  
Silicon Graphics International(a)
  
1,926
372
  
Silicon Image, Inc.(a)
  
1,715
88
  
Silicon Laboratories, Inc.(a)
  
3,654
413
  
Skyworks Solutions, Inc.(a)
  
8,797
173
  
SolarWinds, Inc.(a)
  
9,768
178
  
Solera Holdings, Inc.
  
10,021
168
  
Spansion, Inc., Class A(a)
  
1,976
181
  
STEC, Inc.(a)
  
872
179
  
Super Micro Computer, Inc.(a)
  
2,094
91
  
Sykes Enterprises, Inc.(a)
  
1,352
80
  
Synaptics, Inc.(a)
  
2,781
84
  
Synchronoss Technologies, Inc.(a)
  
2,534
46
  
SYNNEX Corp.(a)
  
1,754
311
  
Synopsys, Inc.(a)
  
10,894
65
  
Syntel, Inc.
  
3,910
244
  
Take-Two Interactive Software, Inc.(a)
  
3,572
142
  
Tessera Technologies, Inc.
  
2,533
339
  
TriQuint Semiconductor, Inc.(a)
  
1,593
92
  
Tyler Technologies, Inc.(a)
  
5,189
57
  
Ultimate Software Group, Inc.(a)
  
5,601
68
  
Ultratech, Inc.(a)
  
2,787
71
  
Unisys Corp.(a)
  
1,632
90
  
Veeco Instruments, Inc.(a)
  
2,872
195
  
VeriFone Systems, Inc.(a)
  
3,699
65
  
Verint Systems, Inc.(a)
  
2,221
152
  
VMware, Inc., Class A(a)
  
10,918
84
  
Volterra Semiconductor Corp.(a)
  
1,289
2,086
  
Wave Systems Corp., Class A(a)
  
1,836
44
  
Workday, Inc., Class A(a)
  
2,433
       
537,033
         
   
Utilities - 3.8%
    
106
  
ALLETE, Inc.
  
4,982
200
  
Alliant Energy Corp.
  
9,538
84
  
American States Water Co.
  
4,449
370
  
American Water Works Co., Inc.
  
14,596
320
  
Aqua America, Inc.
  
9,322
169
  
Atlantic Power Corp. (Canada)
  
1,685
173
  
Atmos Energy Corp.
  
6,603
156
  
Avista Corp.
  
4,086
107
  
Black Hills Corp.
  
4,450
162
  
California Water Service Group
  
3,250
1,058
  
Calpine Corp.(a)
  
19,467
62
  
CH Energy Group, Inc.
  
4,038
80
  
Chesapeake Utilities Corp.
  
3,842
149
  
Cleco Corp.
  
6,601
147
  
El Paso Electric Co.
  
4,902
151
  
Empire District Electric Co.
  
3,233
119
  
EnerNOC, Inc.(a)
  
1,962
307
  
Great Plains Energy, Inc.
  
6,702
235
  
Hawaiian Electric Industries, Inc.
  
6,343
120
  
IDACORP, Inc.
  
5,603
90
  
ITC Holdings Corp.
  
7,607
81
  
Laclede Group, Inc.
  
3,302
373
  
MDU Resources Group, Inc.
  
9,012
88
  
MGE Energy, Inc.
  
4,724
172
  
National Fuel Gas Co.
  
10,009
102
  
New Jersey Resources Corp.
  
4,545
101
  
Northeast Utilities
  
4,192
78
  
Northwest Natural Gas Co.
  
3,553
127
  
NorthWestern Corp.
  
4951
98
  
NRG Energy, Inc.
  
2,352
462
  
NV Energy, Inc.
  
9,129
153
  
OGE Energy Corp.
  
8,860
101
  
Otter Tail Corp.
  
2,918
62
  
PICO Holdings, Inc.(a)
  
1,334
168
  
Piedmont Natural Gas Co., Inc.
  
5,416
245
  
PNM Resources, Inc.
  
5,503
215
  
Portland General Electric Co.
  
6,383
301
  
Questar Corp.
  
7,077
86
  
South Jersey Industries, Inc.
  
4,742
126
  
Southwest Gas Corp.
  
5,708
181
  
UGI Corp.
  
6,483
107
  
UIL Holdings Corp.
  
4,190
97
  
UNS Energy Corp.
  
4,561
202
  
Vectren Corp.
  
6,666
250
  
Westar Energy, Inc.
  
7,755
107
  
WGL Holdings, Inc.
  
4,512
       
                      271,138
         
   
Total Common Stocks - 99.5%
    
   
(Cost $5,096,511)
  
                   7,049,154
         
   
Master Limited Partnership - 0.0%*
    
   
Energy - 0.0%*
    
37
  
Energy Transfer Equity, LP
  
                         1,968
   
(Cost $750)
    
         
   
Warrant - 0.0%*
    
22
  
Magnum Hunter Resources Corp., 10/14/2013(a)(e)(f)
  
3
   
(Cost $0)
    
         
   
Total Long-Term Investments - 99.5%
    
   
(Cost $5,097,261)
  
7,051,125
         
         
   
Investments of Collateral for Securities Loaned - 1.3%
    
90,241
  
BNY Mellon Securities Lending Overnight Fund, 0.1879%(c) (d)
  
90,241
   
(Cost $90,241)
    
         
   
Total Investments - 100.8%
    
   
(Cost $5,187,502)
  
                   7,141,366
   
Liabilities in excess of Other Assets - (0.8%)
  
                       (58,152)
   
Net Assets  - 100.0%
  
$                 7,083,214
 
* 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
SA - Corporation
  
 
(a)
Non-income producing security.
(b)
Security, or portion thereof, was on loan at February 28, 2013.
(c)
At February 28, 2013, the total market value of the Fund's securities on loan was $88,003 and the total market value of the collateral held by the Fund was $90,241.
(d)
Interest rate shown reflects yield as of February 28, 2013.
(e)
Security is valued based on observable  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 $3 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 notes to financial statements.
 
 
 
 
 
WFVK Wilshire 5000 Total Market ETF
  
Portfolio of Investments
  
February 28, 2013 (unaudited)
  
       
Number
      
of Shares
  
Description
Value
   
Long-Term Investments - 99.7%
  
   
Common Stocks - 99.6%
  
   
Basic Materials - 3.2%
  
111
  
Air Products & Chemicals, Inc.
$9,584
48
  
Airgas, Inc.
4,813
51
  
Albemarle Corp.
3,319
605
  
Alcoa, Inc.
5,155
69
  
Allegheny Technologies, Inc.
2,102
99
  
Allied Nevada Gold Corp.(a)
1,812
45
  
Ashland, Inc.
3,509
48
  
Cabot Corp.
1,765
42
  
Carpenter Technology Corp.
1,984
84
  
Celanese Corp., Series A
3,935
42
  
CF Industries Holdings, Inc.
8,435
217
  
Chemtura Corp.(a)
4,366
81
  
Cliffs Natural Resources, Inc.
2,062
81
  
Coeur d'Alene Mines Corp.(a)
1,540
102
  
Commercial Metals Co.
1,664
24
  
Compass Minerals International, Inc.
1,769
33
  
Cytec Industries, Inc.
2,389
27
  
Domtar Corp.
2,013
752
  
Dow Chemical Co.
23,853
95
  
Eastman Chemical Co.
6,624
156
  
Ecolab, Inc.
11,942
599
  
EI du Pont de Nemours & Co.
28,692
90
  
FMC Corp.
5,423
584
  
Freeport-McMoRan Copper & Gold, Inc.
18,641
226
  
Hecla Mining Co.
1,049
138
  
Huntsman Corp.
2,378
51
  
International Flavors & Fragrances, Inc.
3,722
256
  
International Paper Co.
11,267
45
  
Intrepid Potash, Inc.
887
81
  
MeadWestvaco Corp.
2,893
63
  
Molycorp, Inc.(a)
387
356
  
Monsanto Co.
35,967
108
  
Mosaic Co.
6,322
12
  
NewMarket Corp.
3,020
281
  
Newmont Mining Corp.
11,322
187
  
Nucor Corp.
8,424
72
  
Olin Corp.
1,668
93
  
PPG Industries, Inc.
12,523
180
  
Praxair, Inc.
20,349
51
  
Reliance Steel & Aluminum Co.
3,396
42
  
Rockwood Holdings, Inc.
2,629
39
  
Royal Gold, Inc.
2,556
90
  
RPM International, Inc.
2,737
45
  
Sensient Technologies Corp.
1,661
66
  
Sherwin-Williams Co.
10,665
63
  
Sigma-Aldrich Corp.
4,855
84
  
Southern Copper Corp.
3,174
168
  
Steel Dynamics, Inc.
2,565
99
  
U.S. Steel Corp.(b)
2,063
66
  
Valspar Corp.
4,066
75
  
Vulcan Materials Co.
3,820
45
  
WR Grace & Co.(a)
3,221
     
326,977
       
   
Communications - 10.8%
  
42
  
Acme Packet, Inc.(a)
1,226
69
  
ADTRAN, Inc.
1,541
208
  
Amazon.com, Inc.(a)
54,968
39
  
AMC Networks, Inc., Class A(a)
2,239
90
  
AOL, Inc.(a)
3,321
141
  
Arris Group, Inc.(a)
2,446
127
  
Aruba Networks, Inc.(a)
3,165
3,713
  
AT&T, Inc.
133,334
156
  
Cablevision Systems Corp., Class A
2,182
431
  
CBS Corp., Class B
18,701
331
  
CenturyLink, Inc.
11,476
96
  
Ciena Corp.(a)
1,463
3,544
  
Cisco Systems, Inc.
73,892
1,173
  
Comcast Corp., Class A
46,674
858
  
Corning, Inc.
10,819
187
  
Crown Castle International Corp.(a)
13,053
60
  
DigitalGlobe, Inc.(a)
1,565
394
  
DIRECTTV(a)
18,979
75
  
Discovery Communications, Inc., Class A(a)
5,500
135
  
DISH Network Corp., Class A
4,698
722
  
eBay, Inc.(a)
39,479
108
  
EchoStar Corp., Class A(a)
4,087
21
  
Equinix, Inc.(a)
4,443
75
  
Expedia, Inc.
4,788
57
  
F5 Networks, Inc.(a)
5,383
569
  
Facebook, Inc., Class A(a)
15,505
39
  
FactSet Research Systems, Inc.(b)
3,794
105
  
Finisar Corp.(a)
1,538
728
  
Frontier Communications Corp.(b)
3,014
153
  
Gannett Co., Inc.
3,071
162
  
Google, Inc., Class A(a)
129,794
87
  
Harris Corp.
4,182
84
  
IAC/InterActiveCorp
3,423
60
  
InterDigital, Inc.
2,664
265
  
Interpublic Group of Cos., Inc.
3,387
48
  
IPG Photonics Corp.
2,846
202
  
JDS Uniphase Corp.(a)
2,860
42
  
John Wiley & Sons, Inc., Class A
1,536
308
  
Juniper Networks, Inc.(a)
6,369
48
  
Lamar Advertising Co., Class A(a)
2,220
93
  
Leap Wireless International, Inc.(a)
498
90
  
Level 3 Communications, Inc.(a)
1,798
90
  
Liberty Global, Inc., Class A(a)
6,200
362
  
Liberty Interactive Corp., Class A(a)
7,559
93
  
Liberty Media Corp.(a)
10,044
18
  
Liberty Ventures, Series A(a)
1,300
18
  
LinkedIn Corp., Class A(a)
3,027
208
  
McGraw-Hill Cos., Inc.
9,682
36
  
Meredith Corp.
1,513
293
  
MetroPCS Communications, Inc.(a)
2,871
199
  
Motorola Solutions, Inc.
12,380
33
  
NetFlix, Inc.(a)
6,207
69
  
NeuStar, Inc., Class A(a)
3,026
120
  
New York Times Co., Class A(a)
1,160
854
  
News Corp., Class A
24,595
217
  
Omnicom Group, Inc.
12,484
24
  
OpenTable, Inc.(a)
1,334
45
  
Plantronics, Inc.
1,816
156
  
Polycom, Inc.(a)
1,421
27
  
priceline.com, Inc.(a)
18,565
63
  
Rackspace Hosting, Inc.(a)
3,519
259
  
RF Micro Devices, Inc.(a)
1,194
84
  
SBA Communications Corp., Class A(a)
5,974
78
  
Scripps Networks Interactive, Inc., Class A
4,918
2,762
  
Sirius XM Radio, Inc.
8,562
1,771
  
Sprint Nextel Corp.(a)
10,272
93
  
Starz - Liberty Capital(a)
1,726
512
  
Symantec Corp.(a)
12,001
71
  
Telephone & Data Systems, Inc.
1,625
344
  
Tellabs, Inc.
698
102
  
Thomson Reuters Corp. (Canada)
3,119
162
  
TIBCO Software, Inc.(a)
3,475
193
  
Time Warner Cable, Inc.
16,673
641
  
Time Warner, Inc.
34,082
102
  
tw telecom, Inc.(a)
2,583
120
  
VeriSign, Inc.(a)
5,496
1,856
  
Verizon Communications, Inc.
86,360
338
  
Viacom, Inc., Class B
19,760
48
  
ViaSat, Inc.(a)
2,254
138
  
Virgin Media, Inc.
6,403
115
  
VirnetX Holding Corp.(a) (b)
4,051
972
  
Walt Disney Co.
53,062
3
  
Washington Post Co., Class B
1,196
42
  
WebMD Health Corp.(a)
928
335
  
Windstream Corp.
2,878
698
  
Yahoo!, Inc.(a)
14,874
     
1,090,788
       
   
Consumer, Cyclical - 10.0%
  
60
  
Abercrombie & Fitch Co., Class A
2,798
18
  
Advance Auto Parts, Inc.
1,374
81
  
Aeropostale, Inc.(a)
1,055
72
  
Alaska Air Group, Inc.(a)
3,712
168
  
American Eagle Outfitters, Inc.
3,474
75
  
ANN, Inc.(a)
2,122
84
  
Arrow Electronics, Inc.(a)
3,373
108
  
Ascena Retail Group, Inc.(a)
1,813
60
  
Autoliv, Inc.
3,911
60
  
AutoNation, Inc.(a)
2,626
24
  
AutoZone, Inc.(a)
9,124
45
  
Bally Technologies, Inc.(a)
2,149
132
  
Bed Bath & Beyond, Inc.(a)
7,491
232
  
Best Buy Co., Inc.
3,807
57
  
Big Lots, Inc.(a)
1,898
66
  
BorgWarner, Inc.(a)
4,911
84
  
Brinker International, Inc.
2,804
93
  
Brunswick Corp.
3,389
45
  
Buckle, Inc.
2,016
105
  
CarMax, Inc.(a)
4,033
193
  
Carnival Corp. (Panama)
6,904
51
  
Carter's, Inc.(a)
2,877
57
  
Casey's General Stores, Inc.
3,226
33
  
Cash America International, Inc.
1,671
54
  
Cheesecake Factory, Inc.
1,871
138
  
Chico's FAS, Inc.
2,343
24
  
Chipotle Mexican Grill, Inc.(a)
7,603
33
  
Choice Hotels International, Inc.
1,255
111
  
Cintas Corp.
4,873
202
  
Coach, Inc.
9,763
78
  
Cooper Tire & Rubber Co.
1,972
120
  
Copart, Inc.(a)
4,097
226
  
Costco Wholesale Corp.
22,892
806
  
CVS Caremark Corp.
41,203
114
  
Dana Holding Corp.
1,907
96
  
Darden Restaurants, Inc.
4,442
45
  
Deckers Outdoor Corp.(a) (b)
1,815
480
  
Delta Air Lines, Inc.(a)
6,850
72
  
Dick's Sporting Goods, Inc.
3,600
30
  
Dillard's, Inc., Class A
2,390
45
  
Dolby Laboratories, Inc., Class A
1,435
168
  
Dollar Tree, Inc.(a)
7,591
93
  
Domino's Pizza, Inc.
4,429
202
  
DR Horton, Inc.
4,505
39
  
DreamWorks Animation SKG, Inc., Class A(a)
647
63
  
Ezcorp, Inc., Class A(a)
1,303
102
  
Family Dollar Stores, Inc.
5,870
180
  
Fastenal Co.
9,293
87
  
Federal-Mogul Corp.(a)
703
138
  
Foot Locker, Inc.
4,718
2,212
  
Ford Motor Co.
27,893
42
  
Fossil, Inc.(a)
4,316
147
  
GameStop Corp., Class A(b)
3,684
212
  
Gap, Inc.
6,979
453
  
General Motors Co.(a)
12,299
108
  
Genuine Parts Co.
7,671
165
  
Goodyear Tire & Rubber Co.(a)
2,142
51
  
Guess?, Inc.
1,412
60
  
Hanesbrands, Inc.(a)
2,378
126
  
Harley-Davidson, Inc.
6,631
39
  
Harman International Industries, Inc.
1,656
90
  
Hasbro, Inc.
3,602
764
  
Home Depot, Inc.
52,334
42
  
Hyatt Hotels Corp., Class A(a)
1,726
99
  
Iconix Brand Group, Inc.(a)
2,338
135
  
Ingram Micro, Inc., Class A(a)
2,546
211
  
International Game Technology
3,363
60
  
Jack in the Box, Inc.(a)
1,900
153
  
JC Penney Co., Inc.(b)
2,688
281
  
JetBlue Airways Corp.(a)
1,703
412
  
Johnson Controls, Inc.
12,966
72
  
Jones Group, Inc.
831
132
  
Kohl's Corp.
6,085
302
  
Las Vegas Sands Corp.
15,550
72
  
Lear Corp.
3,846
111
  
Lennar Corp., Class A
4,283
171
  
Limited Brands, Inc.
7,784
235
  
LKQ Corp.(a)
4,980
701
  
Lowe's Cos., Inc.
26,743
269
  
Macy's, Inc.
11,056
57
  
Madison Square Garden Co., Class A(a)
3,187
214
  
Marriott International, Inc., Class A
8,442
21
  
Marriott Vacations Worldwide Corp.(a)
866
211
  
Mattel, Inc.
8,598
647
  
McDonald's Corp.
62,047
45
  
MDC Holdings, Inc.
1,729
123
  
Meritor, Inc.(a)
541
205
  
MGM Resorts International(a)
2,560
42
  
Mohawk Industries, Inc.(a)
4,453
42
  
MSC Industrial Direct Co., Inc., Class A
3,583
54
  
Navistar International Corp.(a)
1,341
171
  
Newell Rubbermaid, Inc.
3,991
469
  
NIKE, Inc., Class B
25,542
138
  
Nordstrom, Inc.
7,482
54
  
Nu Skin Enterprises, Inc., Class A
2,225
3
  
NVR, Inc.(a)
3,028
96
  
O'Reilly Automotive, Inc.(a)
9,767
63
  
Oshkosh Corp.(a)
2,429
57
  
Owens & Minor, Inc.
1,736
229
  
PACCAR, Inc.
10,861
21
  
Panera Bread Co., Class A(a)
3,380
66
  
Penn National Gaming, Inc.(a)
3,290
51
  
PetSmart, Inc.
3,321
60
  
Polaris Industries, Inc.
5,242
122
  
Pulte Group, Inc.(a)
2,340
49
  
PVH Corp.
5,971
30
  
Ralph Lauren Corp.
5,204
78
  
Regal Entertainment Group, Class A(b)
1,222
1,480
  
Rite Aid Corp.(a)
2,427
144
  
Ross Stores, Inc.
8,346
90
  
Royal Caribbean Cruises Ltd. (Liberia)
3,138
178
  
Saks, Inc.(a)
2,029
81
  
Scientific Games Corp., Class A(a)
729
25
  
Sears Canada, Inc. (Canada)(b)
233
60
  
Sears Holdings Corp.(a) (b)
2,700
54
  
Signet Jewelers Ltd. (Bermuda)
3,306
356
  
Southwest Airlines Co.
4,165
320
  
Staples, Inc.
4,218
421
  
Starbucks Corp.
23,079
93
  
Starwood Hotels & Resorts Worldwide, Inc.
5,611
377
  
Target Corp.
23,736
51
  
Tempur-Pedic International, Inc.(a)
2,095
51
  
Tenneco, Inc.(a)
1,807
105
  
Tesla Motors, Inc.(a) (b)
3,657
36
  
Thor Industries, Inc.
1,353
90
  
Tiffany & Co.
6,044
99
  
TiVo, Inc.(a)
1,227
408
  
TJX Cos., Inc.
18,348
120
  
Toll Brothers, Inc.(a)
4,094
66
  
Toro Co.
2,977
66
  
Tractor Supply Co.
6,863
72
  
TRW Automotive Holdings Corp.(a)
4,226
33
  
Ulta Salon Cosmetics & Fragrance, Inc.
2,922
66
  
Under Armour, Inc., Class A(a)
3,252
232
  
United Continental Holdings, Inc.(a)
6,197
42
  
United Stationers, Inc.
1,520
90
  
Urban Outfitters, Inc.(a)
3,647
156
  
US Airways Group, Inc.(a)
2,095
54
  
VF Corp.
8,708
66
  
Visteon Corp.(a)
3,846
48
  
WABCO Holdings, Inc.(a)
3,299
605
  
Walgreen Co.
24,769
1,028
  
Wal-Mart Stores, Inc.
72,762
27
  
Watsco, Inc.
2,102
422
  
Wendy's Co.
2,401
51
  
WESCO International, Inc.(a)
3,769
33
  
Whirlpool Corp.
3,727
72
  
Williams-Sonoma, Inc.
3,269
48
  
Wolverine World Wide, Inc.
2,026
57
  
World Fuel Services Corp.
2,168
42
  
WW Grainger, Inc.
9,511
90
  
Wyndham Worldwide Corp.
5,422
45
  
Wynn Resorts Ltd.
5,261
272
  
Yum! Brands, Inc.
17,811
     
1,006,583
       
   
Consumer, Non-cyclical - 21.3%
  
84
  
Aaron's, Inc.
2,292
1,014
  
Abbott Laboratories
34,263
1,014
  
AbbVie, Inc.
37,437
93
  
Acacia Research Corp.(a)
2,600
26
  
ACCO Brands Corp.(a)
195
45
  
Acorda Therapeutics, Inc.(a)
1,339
72
  
Actavis, Inc.(a)
6,132
241
  
Aetna, Inc.
11,373
114
  
Air Methods Corp.
5,106
57
  
Alere, Inc.(a)
1,297
114
  
Alexion Pharmaceuticals, Inc.(a)
9,888
69
  
Align Technology, Inc.(a)
2,169
184
  
Allergan, Inc.
19,949
45
  
Alliance Data Systems Corp.(a)
7,141
1,140
  
Altria Group, Inc.
38,247
165
  
AmerisourceBergen Corp.
7,788
399
  
Amgen, Inc.
36,473
102
  
Apollo Group, Inc., Class A(a)
1,721
389
  
Archer-Daniels-Midland Co.
12,394
241
  
Arena Pharmaceuticals, Inc.(a)
2,022
196
  
Ariad Pharmaceuticals, Inc.(a)
4,122
287
  
Automatic Data Processing, Inc.
17,610
45
  
Auxilium Pharmaceuticals, Inc.(a)
767
69
  
Avery Dennison Corp.
2,819
188
  
Avis Budget Group, Inc.(a)
4,394
352
  
Avon Products, Inc.
6,882
316
  
Baxter International, Inc.
21,362
102
  
Beam, Inc.
6,225
138
  
Becton Dickinson and Co.
12,152
123
  
Biogen Idec, Inc.(a)
20,460
90
  
BioMarin Pharmaceutical, Inc.(a)
5,217
21
  
Bio-Rad Laboratories, Inc., Class A(a)
2,587
921
  
Boston Scientific Corp.(a)
6,806
60
  
Brink's Co.
1,587
993
  
Bristol-Myers Squibb Co.
36,711
90
  
Brookdale Senior Living, Inc.(a)
2,491
95
  
Brown-Forman Corp., Class B
6,234
108
  
Bruker Corp.(a)
1,894
120
  
Bunge Ltd. (Bermuda)
8,893
105
  
Cadiz, Inc.(a)
708
138
  
Campbell Soup Co.
5,680
196
  
Cardinal Health, Inc.
9,057
36
  
Cardtronics, Inc.(a)
949
138
  
CareFusion Corp.(a)
4,518
114
  
Catamaran Corp. (Canada)(a)
6,123
299
  
Celgene Corp.(a)
30,851
57
  
Charles River Laboratories International, Inc.(a)
2,322
24
  
Chemed Corp.
1,853
108
  
Church & Dwight Co., Inc.
6,692
162
  
Cigna Corp.
9,471
93
  
Clorox Co.
7,813
2,612
  
Coca-Cola Co.
101,137
232
  
Coca-Cola Enterprises, Inc.
8,301
263
  
Colgate-Palmolive Co.
30,095
66
  
Community Health Systems, Inc.
2,789
278
  
ConAgra Foods, Inc.
9,483
153
  
Constellation Brands, Inc., Class A(a)
6,769
126
  
Convergys Corp.
2,090
36
  
Cooper Cos., Inc.
3,818
54
  
CoreLogic, Inc.(a)
1,399
45
  
Covance, Inc.(a)
2,997
99
  
Coventry Health Care, Inc.
4,491
57
  
CR Bard, Inc.
5,634
15
  
Crimson Wine Group Ltd.(a)
121
72
  
Cubist Pharmaceuticals, Inc.(a)
3,055
63
  
DaVita HealthCare Partners, Inc.(a)
7,536
168
  
Dean Foods Co.(a)
2,789
102
  
DENTSPLY International, Inc.
4,225
45
  
DeVry, Inc.
1,349
159
  
Dr Pepper Snapple Group, Inc.
6,936
60
  
Edwards Lifesciences Corp.(a)
5,156
599
  
Eli Lilly & Co.
32,741
96
  
ENDO Health Solutions, Inc.(a)
2,976
78
  
Equifax, Inc.
4,299
132
  
Estee Lauder Cos., Inc., Class A
8,461
481
  
Express Scripts Holding Co.(a)
27,374
135
  
Flowers Foods, Inc.
3,804
159
  
Forest Laboratories, Inc.(a)
5,851
51
  
FTI Consulting, Inc.(a)
1,772
75
  
Gartner, Inc.(a)
3,732
356
  
General Mills, Inc.
16,465
111
  
Genpact Ltd. (Bermuda)
1,955
780
  
Gilead Sciences, Inc.(a)
33,314
54
  
Global Payments, Inc.
2,603
90
  
Green Mountain Coffee Roasters, Inc.(a)
4,298
202
  
H&R Block, Inc.
5,022
60
  
Haemonetics Corp.(a)
2,475
54
  
Harris Teeter Supermarkets, Inc.
2,322
93
  
HCA Holdings, Inc.
3,449
196
  
Health Management Associates, Inc., Class A(a)
2,154
78
  
Health Net, Inc.(a)
2,008
90
  
HealthSouth Corp.(a)
2,171
54
  
Henry Schein, Inc.(a)
4,818
96
  
Herbalife Ltd. (Cayman Islands)(b)
3,868
105
  
Hershey Co.
8,751
132
  
Hertz Global Holdings, Inc.(a)
2,633
54
  
Hill-Rom Holdings, Inc.
1,770
88
  
Hillshire Brands Co.
2,851
174
  
HJ Heinz Co.
12,603
90
  
HMS Holdings Corp.(a)
2,609
174
  
Hologic, Inc.(a)
3,798
120
  
Hormel Foods Corp.
4,489
81
  
Hospira, Inc.(a)
2,384
93
  
Humana, Inc.
6,348
33
  
IDEXX Laboratories, Inc.(a)
3,040
87
  
Illumina, Inc.(a)
4,361
117
  
Incyte Corp. Ltd.(a)
2,597
60
  
Infinity Pharmaceuticals, Inc.(a)
2,477
63
  
Ingredion, Inc.
4,171
18
  
Intuitive Surgical, Inc.(a)
9,178
120
  
Iron Mountain, Inc.
4,140
30
  
ITT Educational Services, Inc.(a)
413
57
  
Jarden Corp.(a)
3,540
81
  
JM Smucker Co.
7,719
1,753
  
Johnson & Johnson
133,421
144
  
Kellogg Co.
8,712
253
  
Kimberly-Clark Corp.
23,853
304
  
Kraft Foods Group, Inc.
14,735
407
  
Kroger Co.
11,888
63
  
Laboratory Corp. of America Holdings(a)
5,582
27
  
Lancaster Colony Corp.
1,976
33
  
Lender Processing Services, Inc.
810
114
  
Life Technologies Corp.(a)
6,627
45
  
LifePoint Hospitals, Inc.(a)
1,984
99
  
Live Nation Entertainment, Inc.(a)
1,048
225
  
Lorillard, Inc.
8,672
36
  
Magellan Health Services, Inc.(a)
1,856
51
  
Manpower, Inc.
2,785
57
  
Masimo Corp.
1,131
60
  
MasterCard, Inc., Class A
31,069
39
  
Matthews International Corp., Class A
1,287
93
  
McCormick & Co., Inc.
6,256
153
  
McKesson Corp.
16,238
132
  
Mead Johnson Nutrition Co.
9,888
69
  
Medivation, Inc.(a)
3,391
39
  
MEDNAX, Inc.(a)
3,339
614
  
Medtronic, Inc.
27,605
1,826
  
Merck & Co., Inc.
78,025
87
  
Molson Coors Brewing Co., Class B
3,846
912
  
Mondelez International, Inc., Class A
25,217
116
  
MoneyGram International, Inc.(a)
1,880
132
  
Monster Beverage Corp.(a)
6,657
105
  
Monster Worldwide, Inc.(a)
538
114
  
Moody's Corp.
5,479
42
  
Morningstar, Inc.
2,880
211
  
Mylan, Inc.(a)
6,248
84
  
Myriad Genetics, Inc.(a)
2,135
36
  
NuVasive, Inc.(a)
669
102
  
Omnicare, Inc.
3,801
60
  
Onyx Pharmaceuticals, Inc.(a)
4,519
57
  
PAREXEL International Corp.(a)
1,977
72
  
Patterson Cos., Inc.
2,616
223
  
Paychex, Inc.
7,381
999
  
PepsiCo, Inc.
75,694
54
  
Perrigo Co.
6,111
4,763
  
Pfizer, Inc.
130,363
60
  
Pharmacyclics, Inc.(a)
5,267
66
  
PHH Corp.(a)
1,387
1,008
  
Philip Morris International, Inc.
92,484
23
  
Post Holdings, Inc.(a)
889
1,738
  
Procter & Gamble Co.
132,401
171
  
Quanta Services, Inc.(a)
4,856
87
  
Quest Diagnostics, Inc.
4,887
57
  
Questcor Pharmaceuticals, Inc.(b)
1,858
39
  
Regeneron Pharmaceuticals, Inc.(a)
6,513
69
  
Rent-A-Center, Inc.
2,503
102
  
ResMed, Inc.
4,538
242
  
Reynolds American, Inc.
10,571
90
  
Robert Half International, Inc.
3,200
138
  
Rollins, Inc.
3,382
147
  
RR Donnelley & Sons Co.
1,535
262
  
Safeway, Inc.
6,251
278
  
SAIC, Inc.
3,286
45
  
Salix Pharmaceuticals Ltd.(a)
2,198
48
  
Scotts Miracle-Gro Co., Class A
2,127
157
  
Seattle Genetics, Inc.(a)
4,418
168
  
Service Corp. International
2,611
30
  
Sirona Dental Systems, Inc.(a)
2,131
105
  
Smithfield Foods, Inc.(a)
2,335
69
  
Snyders-Lance, Inc.
1,708
51
  
Sotheby's
1,950
202
  
St Jude Medical, Inc.
8,282
709
  
Star Scientific, Inc.(a)
1,255
51
  
STERIS Corp.
1,989
5
  
Strayer Education, Inc.
245
217
  
Stryker Corp.
13,862
371
  
Sysco Corp.
11,931
36
  
Techne Corp.
2,448
36
  
Teleflex, Inc.
2,879
84
  
Tenet Healthcare Corp.(a)
3,302
102
  
Theravance, Inc.(a)
2,070
54
  
Thoratec Corp.(a)
1,901
150
  
Total System Services, Inc.
3,564
75
  
Towers Watson & Co., Class A
4,993
33
  
TreeHouse Foods, Inc.(a)
1,927
42
  
Tupperware Brands Corp.
3,286
196
  
Tyson Foods, Inc., Class A
4,443
66
  
United Rentals, Inc.(a)
3,525
39
  
United Therapeutics Corp.(a)
2,333
689
  
UnitedHealth Group, Inc.
36,827
81
  
Universal American Corp.
676
27
  
Universal Corp.
1,506
60
  
Universal Health Services, Inc., Class B
3,473
42
  
Valassis Communications, Inc.
1,155
75
  
Varian Medical Systems, Inc.(a)
5,297
66
  
VCA Antech, Inc.(a)
1,449
57
  
Verisk Analytics, Inc., Class A(a)
3,336
117
  
Vertex Pharmaceuticals, Inc.(a)
5,478
93
  
ViroPharma, Inc.(a)
2,319
138
  
Vivus, Inc.(a)
1,479
66
  
Weight Watchers International, Inc.
2,827
51
  
WellCare Health Plans, Inc.(a)
2,917
211
  
WellPoint, Inc.
13,120
36
  
West Pharmaceutical Services, Inc.
2,175
428
  
Western Union Co.
6,005
114
  
Whole Foods Market, Inc.
9,761
135
  
Zimmer Holdings, Inc.
10,120
     
2,152,680
       
   
Diversified - 0.0%*
  
150
  
Leucadia National Corp.
4,035
       
   
Energy - 10.3%
  
305
  
Anadarko Petroleum Corp.
24,272
229
  
Apache Corp.
17,008
45
  
Atwood Oceanics, Inc.(a)
2,302
262
  
Baker Hughes, Inc.
11,743
42
  
Berry Petroleum Co., Class A
1,922
45
  
Bill Barrett Corp.(a)
812
138
  
Cabot Oil & Gas Corp., Class A
8,552
156
  
Cameron International Corp.(a)
9,940
21
  
CARBO Ceramics, Inc.
1,907
60
  
Carrizo Oil & Gas, Inc.(a)
1,409
168
  
Cheniere Energy, Inc.(a)
3,578
380
  
Chesapeake Energy Corp.
7,661
1,245
  
Chevron Corp.
145,852
57
  
Cimarex Energy Co.
3,837
48
  
Comstock Resources, Inc.(a)
678
45
  
Concho Resources, Inc.(a)
4,048
775
  
ConocoPhillips
44,911
135
  
CONSOL Energy, Inc.
4,340
39
  
Continental Resources, Inc.(a)
3,432
296
  
Denbury Resources, Inc.(a)
5,364
238
  
Devon Energy Corp.
12,914
36
  
Diamond Offshore Drilling, Inc.
2,508
63
  
Dresser-Rand Group, Inc.(a)
3,885
24
  
Dril-Quip, Inc.(a)
1,974
51
  
Energen Corp.
2,358
78
  
Energy XXI Bermuda Ltd. (Bermuda)
2,319
135
  
EOG Resources, Inc.
16,971
111
  
EQT Corp.
7,003
141
  
EXCO Resources, Inc.
936
75
  
Exterran Holdings, Inc.(a)
1,892
2,875
  
Exxon Mobil Corp.
257,456
126
  
FMC Technologies, Inc.(a)
6,541
78
  
Forest Oil Corp.(a)
452
102
  
Gulfport Energy Corp.(a)
4,177
578
  
Halliburton Co.
23,993
105
  
Helix Energy Solutions Group, Inc.(a)
2,458
63
  
Helmerich & Payne, Inc.
4,174
174
  
Hess Corp.
11,571
163
  
HollyFrontier Corp.
9,161
120
  
Key Energy Services, Inc.(a)
1,030
624
  
Kinder Morgan, Inc.
23,132
307
  
Kodiak Oil & Gas Corp. (Canada)(a)
2,732
36
  
Lufkin Industries, Inc.
2,332
428
  
Marathon Oil Corp.
14,338
214
  
Marathon Petroleum Corp.
17,736
78
  
McMoRan Exploration Co.(a)
1,255
120
  
Murphy Oil Corp.
7,306
162
  
Nabors Industries Ltd. (Bermuda)
2,715
275
  
National Oilwell Varco, Inc.
18,736
69
  
Newfield Exploration Co.(a)
1,595
81
  
Noble Energy, Inc.
8,977
518
  
Occidental Petroleum Corp.
42,647
84
  
Oceaneering International, Inc.
5,342
39
  
Oil States International, Inc.(a)
2,970
90
  
Oneok, Inc.
4,049
135
  
Patterson-UTI Energy, Inc.
3,151
177
  
Peabody Energy Corp.
3,816
412
  
Phillips 66
25,940
78
  
Pioneer Natural Resources Co.
9,813
96
  
Plains Exploration & Production Co.(a)
4,355
108
  
QEP Resources, Inc.
3,290
127
  
Quicksilver Resources, Inc.(a)
236
135
  
Range Resources Corp.
10,368
63
  
Rosetta Resources, Inc.(a)
3,067
84
  
Rowan Companies PLC (United Kingdom)(a)
2,906
398
  
SandRidge Energy, Inc.(a) (b)
2,269
852
  
Schlumberger Ltd. (Curacao)
66,328
24
  
SEACOR Holdings, Inc.
1,667
54
  
SM Energy Co.
3,125
217
  
Southwestern Energy Co.(a)
7,437
329
  
Spectra Energy Corp.
9,554
53
  
SunCoke Energy, Inc.(a)
874
153
  
Superior Energy Services, Inc.(a)
4,047
48
  
Swift Energy Co.(a)
649
120
  
Tesoro Corp.
6,749
126
  
Ultra Petroleum Corp. (Canada)(a)
2,150
36
  
Unit Corp.(a)
1,637
398
  
Valero Energy Corp.
18,145
36
  
Walter Energy, Inc.
1,144
66
  
Whiting Petroleum Corp.(a)
3,214
371
  
Williams Cos., Inc.
12,877
123
  
WPX Energy, Inc.(a)
1,745
     
1,043,756
       
   
Financial - 17.4%
  
33
  
Affiliated Managers Group, Inc.(a)
4,826
286
  
Aflac, Inc.
14,286
42
  
Alexander & Baldwin, Inc.(a)
1,480
39
  
Alexandria Real Estate Equities, Inc., REIT
2,774
6
  
Alleghany Corp.(a)
2,267
266
  
Allstate Corp.
12,241
63
  
Alterra Capital Holdings Ltd. (Bermuda)
1,930
102
  
American Campus Communities, Inc., REIT
4,610
99
  
American Capital Agency Corp., REIT
3,140
317
  
American Capital Ltd.(a)
4,432
623
  
American Express Co.
38,719
72
  
American Financial Group, Inc.
3,165
289
  
American International Group, Inc.(a)
10,985
21
  
American National Insurance Co.
1,688
247
  
American Tower Corp., REIT
19,167
138
  
Ameriprise Financial, Inc.
9,471
455
  
Annaly Capital Management, Inc., REIT
7,048
57
  
Aon PLC (United Kingdom)
3,482
102
  
Apartment Investment & Management Co., Class A, REIT
3,021
126
  
Apollo Investment Corp.
1,095
99
  
Arch Capital Group Ltd. (Bermuda)(a)
4,863
66
  
Arthur J Gallagher & Co.
2,540
91
  
Artio Global Investors, Inc.
248
69
  
Aspen Insurance Holdings Ltd. (Bermuda)
2,474
144
  
Associated Banc-Corp.
2,072
84
  
Assurant, Inc.
3,527
81
  
Assured Guaranty Ltd. (Bermuda)
1,512
105
  
Astoria Financial Corp.
1,027
63
  
AvalonBay Communities, Inc., REIT
7,864
87
  
Axis Capital Holdings Ltd. (Bermuda)
3,544
184
  
BancorpSouth, Inc.
2,815
7,212
  
Bank of America Corp.
80,991
39
  
Bank of Hawaii Corp.
1,887
52
  
Bank of Montreal (Canada)
3,236
695
  
Bank of New York Mellon Corp.
18,862
449
  
BB&T Corp.
13,632
1,077
  
Berkshire Hathaway, Inc., Class B(a)
110,026
102
  
BioMed Realty Trust, Inc., REIT
2,154
69
  
BlackRock, Inc.
16,543
24
  
BOK Financial Corp.
1,426
78
  
Boston Properties, Inc., REIT
8,103
132
  
Brandywine Realty Trust, REIT
1,815
45
  
BRE Properties, Inc., REIT
2,187
141
  
Brookfield Office Properties, Inc. (Canada)
2,353
108
  
Brown & Brown, Inc.
3,240
48
  
Camden Property Trust, REIT
3,319
337
  
Capital One Financial Corp.
17,197
269
  
CapitalSource, Inc.
2,421
129
  
CBL & Associates Properties, Inc., REIT
2,933
247
  
CBRE Group, Inc., Class A(a)
5,970
284
  
Cedar Realty Trust, Inc., REIT
1,630
725
  
Charles Schwab Corp.
11,774
497
  
Chimera Investment Corp., REIT
1,481
187
  
Chubb Corp.
15,714
117
  
Cincinnati Financial Corp.
5,266
120
  
CIT Group, Inc.(a)
5,023
1,898
  
Citigroup, Inc.
79,659
220
  
Citizens Republic Bancorp, Inc.(a)
4,532
39
  
City National Corp.
2,216
211
  
CME Group, Inc.
12,622
229
  
CNO Financial Group, Inc.
2,505
96
  
Colonial Properties Trust, REIT
2,070
96
  
Comerica, Inc.
3,301
60
  
Commerce Bancshares, Inc.
2,285
54
  
CommonWealth REIT, REIT
1,364
159
  
Corporate Office Properties Trust, REIT
4,113
96
  
Corrections Corp. of America, REIT
3,682
214
  
Cousins Properties, Inc., REIT
2,080
368
  
CubeSmart, REIT
5,424
45
  
Cullen/Frost Bankers, Inc.
2,725
272
  
DCT Industrial Trust, Inc., REIT
1,975
181
  
DDR Corp., REIT
3,126
132
  
DiamondRock Hospitality Co., REIT
1,180
72
  
Digital Realty Trust, Inc., REIT
4,823
263
  
Discover Financial Services
10,133
114
  
Douglas Emmett, Inc., REIT
2,794
199
  
Duke Realty Corp., REIT
3,216
48
  
DuPont Fabros Technology, Inc., REIT
1,112
153
  
E*Trade Financial Corp.(a)
1,639
87
  
East West Bancorp, Inc.
2,140
36
  
EastGroup Properties, Inc., REIT
2,045
78
  
Eaton Vance Corp.
2,979
42
  
Endurance Specialty Holdings Ltd. (Bermuda)
1,850
36
  
EPR Properties, REIT
1,756
24
  
Equity Lifestyle Properties, Inc., REIT
1,769
187
  
Equity Residential, REIT
10,292
30
  
Erie Indemnity Co., Class A
2,196
18
  
Essex Property Trust, Inc., REIT
2,682
36
  
Everest Re Group Ltd. (Bermuda)
4,486
105
  
Extra Space Storage, Inc., REIT
3,931
5,177
  
Federal National Mortgage Association(a)
1,455
30
  
Federal Realty Investment Trust, REIT
3,186
90
  
Federated Investors, Inc., Class B
2,090
577
  
FelCor Lodging Trust, Inc., REIT(a)
2,897
196
  
Fidelity National Financial, Inc., Class A
4,888
533
  
Fifth Third Bancorp
8,443
108
  
First American Financial Corp.
2,623
371
  
First California Financial Group, Inc.(a)
2,983
9
  
First Citizens BancShares, Inc., Class A
1,616
66
  
First Financial Bancorp
1,012
40
  
First Financial Bankshares, Inc.(b)
1,784
190
  
First Horizon National Corp.
2,020
196
  
First Industrial Realty Trust, Inc., REIT
3,111
160
  
First Niagara Financial Group, Inc.
1,309
78
  
FirstMerit Corp.
1,179
100
  
Flagstar Bancorp, Inc.(a)
1,359
138
  
Forest City Enterprises, Inc., Class A(a)
2,214
81
  
Franklin Resources, Inc.
11,441
174
  
Fulton Financial Corp.
1,975
586
  
General Growth Properties, Inc., REIT
11,216
278
  
Genworth Financial, Inc., Class A(a)
2,374
199
  
Getty Realty Corp., REIT
3,956
330
  
Glimcher Realty Trust, REIT
3,716
299
  
Goldman Sachs Group, Inc.
44,778
24
  
Greenhill & Co., Inc.
1,459
488
  
Hampton Roads Bankshares, Inc.(a)
644
84
  
Hancock Holding Co.
2,537
45
  
Hanover Insurance Group, Inc.
1,921
287
  
Hartford Financial Services Group, Inc.
6,776
45
  
Hatteras Financial Corp., REIT
1,201
87
  
HCC Insurance Holdings, Inc.
3,480
190
  
HCP, Inc., REIT
9,287
123
  
Health Care REIT, Inc., REIT
7,889
66
  
Healthcare Realty Trust, Inc., REIT
1,756
307
  
Healthcare Trust of America, Inc., Class A, REIT
3,524
57
  
Highwoods Properties, Inc., REIT
2,081
33
  
Home Properties, Inc., REIT
2,060
102
  
Hospitality Properties Trust, REIT
2,723
682
  
Host Hotels & Resorts, Inc., REIT
11,369
18
  
Howard Hughes Corp.(a)
1,382
332
  
Hudson City Bancorp, Inc.
2,829
440
  
Huntington Bancshares, Inc.
3,093
30
  
Iberiabank Corp.
1,506
45
  
IntercontinentalExchange, Inc.(a)
6,967
60
  
International Bancshares Corp.
1,215
293
  
Invesco Ltd. (Bermuda)
7,849
211
  
Invesco Mortgage Capital, Inc., REIT
4,435
211
  
iStar Financial, Inc., REIT(a)
2,108
135
  
Janus Capital Group, Inc.
1,250
87
  
Jefferies Group, LLC
1,890
69
  
Jones Lang LaSalle, Inc.
6,668
2,467
  
JPMorgan Chase & Co.
120,686
51
  
Kemper Corp.
1,614
596
  
KeyCorp
5,596
48
  
Kilroy Realty Corp., REIT
2,532
272
  
Kimco Realty Corp., REIT
5,921
60
  
LaSalle Hotel Properties, REIT
1,523
117
  
Legg Mason, Inc.
3,335
78
  
Liberty Property Trust, REIT
3,026
196
  
Lincoln National Corp.
5,790
165
  
Loews Corp.
7,113
45
  
M&T Bank Corp.
4,594
108
  
Macerich Co., REIT
6,492
63
  
Mack-Cali Realty Corp., REIT
1,788
6
  
Markel Corp.(a)
2,901
241
  
Marsh & McLennan Cos., Inc.
8,951
162
  
MBIA, Inc.(a)
1,567
512
  
MetLife, Inc.
18,145
199
  
MFA Financial, Inc., REIT
1,767
343
  
MGIC Investment Corp.(a)
1,022
24
  
Mid-America Apartment Communities, Inc., REIT
1,667
974
  
Morgan Stanley
21,964
81
  
NASDAQ OMX Group, Inc.
2,564
66
  
National Retail Properties, Inc., REIT
2,274
266
  
New York Community Bancorp, Inc.
3,591
150
  
Northern Trust Corp.
7,976
99
  
Northwest Bancshares, Inc.
1,237
187
  
NYSE Euronext
6,971
51
  
Ocwen Financial Corp.(a)
2,010
117
  
Old National Bancorp
1,580
153
  
Old Republic International Corp.
1,838
63
  
Omega Healthcare Investors, Inc., REIT
1,763
45
  
PartnerRe Ltd. (Bermuda)
4,016
241
  
People's United Financial, Inc.
3,157
45
  
Platinum Underwriters Holdings Ltd. (Bermuda)
2,380
84
  
Plum Creek Timber Co., Inc., REIT
4,074
308
  
PNC Financial Services Group, Inc.
19,216
64
  
Popular, Inc. (Puerto Rico)(a)
1,787
63
  
Post Properties, Inc., REIT
3,008
42
  
Potlatch Corp., REIT
1,848
415
  
Power REIT, REIT
4,399
488
  
Preferred Apartment Communities, Inc., Class A, REIT
4,265
217
  
Principal Financial Group, Inc.
6,859
132
  
PrivateBancorp, Inc.
2,364
60
  
ProAssurance Corp.
2,813
329
  
Progressive Corp.
8,014
372
  
Prologis, Inc., REIT
14,486
39
  
Prosperity Bancshares, Inc.
1,799
72
  
Protective Life Corp.
2,298
302
  
Prudential Financial, Inc.
16,782
24
  
PS Business Parks, Inc., REIT
1,776
84
  
Public Storage, REIT
12,702
686
  
Radian Group, Inc.
6,044
123
  
RAIT Financial Trust, REIT
891
93
  
Raymond James Financial, Inc.
4,081
68
  
Rayonier, Inc., REIT
3,799
48
  
Realty Income Corp., REIT
2,191
90
  
Redwood Trust, Inc., REIT
1,823
75
  
Regency Centers Corp., REIT
3,891
828
  
Regions Financial Corp.
6,334
51
  
Reinsurance Group of America, Inc.
2,933
39
  
RenaissanceRe Holdings Ltd. (Bermuda)
3,410
221
  
Resource Capital Corp., REIT
1,503
144
  
SEI Investments Co.
4,071
102
  
Senior Housing Properties Trust, REIT
2,559
39
  
Signature Bank(a)
2,897
168
  
Simon Property Group, Inc., REIT
26,688
54
  
SL Green Realty Corp., REIT
4,407
299
  
SLM Corp.
5,672
39
  
Sovran Self Storage, Inc., REIT
2,373
120
  
St Joe Co.(a)
2,676
45
  
StanCorp Financial Group, Inc.
1,791
96
  
Starwood Property Trust, Inc., REIT
2,683
320
  
State Street Corp.
18,109
90
  
Sterling Financial Corp.
1,906
45
  
Stifel Financial Corp.(a)
1,554
483
  
Strategic Hotels & Resorts, Inc., REIT(a)
3,516
114
  
Sunstone Hotel Investors, Inc., REIT(a)
1,292
329
  
SunTrust Banks, Inc.
9,077
171
  
Susquehanna Bancshares, Inc.
1,989
33
  
SVB Financial Group(a)
2,213
1,044
  
Synovus Financial Corp.
2,652
159
  
T Rowe Price Group, Inc.
11,319
60
  
Tanger Factory Outlet Centers, REIT
2,117
42
  
Taubman Centers, Inc., REIT
3,222
123
  
TCF Financial Corp.
1,690
171
  
TD Ameritrade Holding Corp.
3,251
81
  
TFS Financial Corp.(a)
851
81
  
Torchmark Corp.
4,551
259
  
Travelers Cos., Inc.
20,829
57
  
Trustmark Corp.
1,305
117
  
UDR, Inc., REIT
2,792
39
  
UMB Financial Corp.
1,778
114
  
Umpqua Holdings Corp.
1,431
48
  
United Bankshares, Inc.
1,248
193
  
Unum Group
4,723
1,155
  
US Bancorp
39,247
72
  
Validus Holdings Ltd. (Bermuda)
2,565
148
  
Valley National Bancorp(b)
1,484
157
  
Ventas, Inc., REIT
11,112
319
  
Visa, Inc., Class A
50,606
108
  
Vornado Realty Trust, REIT
8,663
66
  
Waddell & Reed Financial, Inc., Class A
2,707
87
  
Washington Federal, Inc.
1,527
48
  
Washington Real Estate Investment Trust, REIT
1,329
60
  
Webster Financial Corp.
1,321
108
  
Weingarten Realty Investors, REIT
3,310
2,969
  
Wells Fargo & Co.
104,153
30
  
Westamerica Bancorporation
1,328
208
  
Weyerhaeuser Co., REIT
6,117
6
  
White Mountains Insurance Group Ltd. (Bermuda)
3,390
42
  
Wintrust Financial Corp.
1,533
108
  
WR Berkley Corp.
4,482
105
  
Zions Bancorporation
2,535
     
1,761,104
       
   
Industrial - 11.0%
  
389
  
3M Co.
40,456
87
  
Actuant Corp., Class A
2,646
39
  
Acuity Brands, Inc.
2,657
87
  
AECOM Technology Corp.(a)
2,637
57
  
Aegion Corp.(a)
1,370
63
  
AGCO Corp.
3,243
199
  
Agilent Technologies, Inc.
8,255
30
  
Alliant Techsystems, Inc.
1,974
162
  
AMETEK, Inc.
6,776
114
  
Amphenol Corp., Class A
8,078
45
  
AO Smith Corp.
3,219
48
  
Aptargroup, Inc.
2,589
27
  
Atlas Air Worldwide Holdings, Inc.(a)
1,274
117
  
Avnet, Inc.(a)
4,131
78
  
B/E Aerospace, Inc.(a)
4,104
84
  
Babcock & Wilcox Co.
2,270
120
  
Ball Corp.
5,329
78
  
Bemis Co., Inc.
2,913
66
  
Benchmark Electronics, Inc.(a)
1,150
335
  
Boeing Co.
25,762
48
  
Brady Corp., Class A
1,634
48
  
Carlisle Cos., Inc.
3,258
391
  
Caterpillar, Inc.
36,117
93
  
CH Robinson Worldwide, Inc.
5,303
42
  
Chart Industries, Inc.(a)
3,048
9
  
Chicago Bridge & Iron Co. NV (Netherlands)
482
54
  
CLARCOR, Inc.
2,753
54
  
Clean Harbors, Inc.(a)
2,781
45
  
Con-way, Inc.
1,582
135
  
Covanta Holding Corp.
2,641
51
  
Crane Co.
2,743
108
  
Crown Holdings, Inc.(a)
4,198
523
  
CSX Corp.
11,998
108
  
Cummins, Inc.
12,514
48
  
Curtiss-Wright Corp.
1,666
313
  
Danaher Corp.
19,281
259
  
Deere & Co.
22,748
114
  
Donaldson Co., Inc.
4,107
120
  
Dover Corp.
8,802
30
  
Eagle Materials, Inc.
1,929
187
  
Eaton Corp. PLC (Ireland)
11,588
72
  
EMCOR Group, Inc.
2,777
476
  
Emerson Electric Co.
26,989
51
  
Energizer Holdings, Inc.
4,688
54
  
EnerSys, Inc.(a)
2,208
12
  
Engility Holdings, Inc.(a)
226
24
  
Era Group, Inc.(a)
485
36
  
Esterline Technologies Corp.(a)
2,481
112
  
Exelis, Inc.
1,156
141
  
Expeditors International of Washington, Inc.
5,478
156
  
FedEx Corp.
16,447
120
  
FLIR Systems, Inc.
3,161
36
  
Flowserve Corp.
5,778
129
  
Fluor Corp.
7,985
102
  
Fortune Brands Home & Security, Inc.(a)
3,524
45
  
Gardner Denver, Inc.
3,195
66
  
General Cable Corp.(a)
2,174
177
  
General Dynamics Corp.
12,031
6,847
  
General Electric Co.
158,987
42
  
Genesee & Wyoming, Inc., Class A(a)
3,760
96
  
Gentex Corp.
1,800
63
  
Graco, Inc.
3,660
138
  
GrafTech International Ltd.(a)
1,020
48
  
Granite Construction, Inc.
1,492
27
  
Greif, Inc., Class A
1,373
72
  
Harsco Corp.
1,727
650
  
Heckmann Corp.(a) (b)
2,314
114
  
Hexcel Corp.(a)
3,107
66
  
Hillenbrand, Inc.
1,630
436
  
Honeywell International, Inc.
30,564
39
  
Hubbell, Inc., Class B
3,623
22
  
Huntington Ingalls Industries
1,057
75
  
IDEX Corp.
3,820
266
  
Illinois Tool Works, Inc.
16,359
39
  
Itron, Inc.(a)
1,641
56
  
ITT Corp.
1,474
144
  
Jabil Circuit, Inc.
2,697
102
  
Jacobs Engineering Group, Inc.(a)
4,982
63
  
JB Hunt Transport Services, Inc.
4,380
63
  
Joy Global, Inc.
3,990
72
  
Kansas City Southern
7,414
45
  
Kaydon Corp.
1,125
126
  
KBR, Inc.
3,829
78
  
Kennametal, Inc.
3,157
45
  
Kirby Corp.(a)
3,419
63
  
Knight Transportation, Inc.
987
72
  
L-3 Communications Holdings, Inc.
5,491
45
  
Landstar System, Inc.
2,533
111
  
Leggett & Platt, Inc.
3,394
45
  
Lennox International, Inc.
2,658
90
  
Lincoln Electric Holdings, Inc.
5,045
159
  
Lockheed Martin Corp.
13,992
93
  
Louisiana-Pacific Corp.(a)
1,950
135
  
Manitowoc Co., Inc.
2,500
27
  
Martin Marietta Materials, Inc.
2,623
223
  
Masco Corp.
4,295
42
  
Matson, Inc.
1,080
168
  
McDermott International, Inc. (Panama)(a)
2,137
24
  
Mettler-Toledo International, Inc.(a)
5,107
30
  
Middleby Corp.(a)
4,479
108
  
Molex, Inc.
2,993
45
  
Moog, Inc., Class A(a)
2,023
99
  
National Instruments Corp.
2,978
48
  
Nordson Corp.
3,043
178
  
Norfolk Southern Corp.
13,003
141
  
Northrop Grumman Corp.
9,261
99
  
Old Dominion Freight Line, Inc.(a)
3,559
75
  
Owens Corning(a)
2,911
108
  
Owens-Illinois, Inc.(a)
2,754
75
  
Packaging Corp. of America
3,133
84
  
Pall Corp.
5,727
102
  
Parker Hannifin Corp.
9,637
141
  
Pentair Ltd. (Switzerland)
7,511
93
  
PerkinElmer, Inc.
3,178
39
  
Plexus Corp.(a)
950
87
  
Polypore International, Inc.(a) (b)
3,330
75
  
Precision Castparts Corp.
13,994
223
  
Raytheon Co.
12,169
33
  
Regal-Beloit Corp.
2,550
269
  
Republic Services, Inc.
8,457
33
  
Rock-Tenn Co., Class A
2,919
93
  
Rockwell Automation, Inc.
8,402
102
  
Rockwell Collins, Inc.
6,131
60
  
Roper Industries, Inc.
7,477
45
  
Ryder System, Inc.
2,529
75
  
Sanmina Corp.(a)
768
81
  
Sealed Air Corp.
1,799
48
  
Silgan Holdings, Inc.
2,061
63
  
Simpson Manufacturing Co., Inc.
1,833
45
  
Snap-On, Inc.
3,612
63
  
Sonoco Products Co.
2,002
87
  
Spirit Aerosystems Holdings, Inc., Class A(a)
1,515
42
  
SPX Corp.
3,381
87
  
Stanley Black & Decker, Inc.
6,847
57
  
Stericycle, Inc.(a)
5,467
96
  
SunPower Corp.(a)
1,127
39
  
Tech Data Corp.(a)
2,069
39
  
Teledyne Technologies, Inc.(a)
2,870
48
  
Terex Corp.(a)
1,575
69
  
Tetra Tech, Inc.(a)
1,991
174
  
Textron, Inc.
5,020
221
  
Thermo Fisher Scientific, Inc.
16,310
45
  
Tidewater, Inc.
2,130
75
  
Timken Co.
4,074
42
  
TransDigm Group, Inc.
5,978
99
  
Trimble Navigation Ltd.(a)
5,884
81
  
Trinity Industries, Inc.
3,502
266
  
Union Pacific Corp.
36,471
425
  
United Parcel Service, Inc., Class B
35,126
500
  
United Technologies Corp.
45,275
75
  
Universal Display Corp.(a)
2,354
60
  
URS Corp.
2,536
84
  
USG Corp.(a)
2,370
108
  
UTi Worldwide, Inc. (British Virgin Islands)
1,645
27
  
Valmont Industries, Inc.
4,254
150
  
Vishay Intertechnology, Inc.(a)
1,978
51
  
Wabtec Corp.
4,987
93
  
Waste Connections, Inc.
3,182
229
  
Waste Management, Inc.
8,546
60
  
Waters Corp.(a)
5,563
51
  
Werner Enterprises, Inc.
1,174
60
  
Woodward, Inc.
2,246
87
  
Worthington Industries, Inc.
2,466
112
  
Xylem, Inc.
3,080
63
  
Zebra Technologies Corp., Class A(a)
2,817
     
1,113,965
       
   
Technology - 12.1%
  
45
  
3D Systems Corp.(a)
1,663
398
  
Activision Blizzard, Inc.
5,691
84
  
Acxiom Corp.(a)
1,530
311
  
Adobe Systems, Inc.(a)
12,222
413
  
Advanced Micro Devices, Inc.(a)
1,028
138
  
Akamai Technologies, Inc.(a)
5,100
141
  
Allscripts Healthcare Solutions, Inc.(a)
1,794
187
  
Altera Corp.
6,624
184
  
Analog Devices, Inc.
8,320
63
  
ANSYS, Inc.(a)
4,775
569
  
Apple, Inc.
251,157
794
  
Applied Materials, Inc.
10,878
36
  
athenahealth, Inc.(a)
3,376
401
  
Atmel Corp.(a)
2,727
168
  
Autodesk, Inc.(a)
6,169
96
  
BMC Software, Inc.(a)
3,847
275
  
Broadcom Corp., Class A
9,380
120
  
Broadridge Financial Solutions, Inc.
2,754
383
  
Brocade Communications Systems, Inc.(a)
2,149
256
  
CA, Inc.
6,269
33
  
CACI International, Inc., Class A(a)
1,675
284
  
Cadence Design Systems, Inc.(a)
4,021
63
  
Cavium, Inc.(a)
2,326
78
  
Cerner Corp.(a)
6,822
123
  
Citrix Systems, Inc.(a)
8,721
205
  
Cognizant Technology Solutions Corp., Class A(a)
15,738
87
  
Computer Sciences Corp.
4,179
217
  
Compuware Corp.(a)
2,519
39
  
Concur Technologies, Inc.(a)
2,738
30
  
Cree, Inc.(a) (b)
1,357
135
  
Cypress Semiconductor Corp.(a)
1,422
852
  
Dell, Inc.
11,885
72
  
Diebold, Inc.
2,033
51
  
Digital River, Inc.(a)
726
51
  
DST Systems, Inc.
3,464
36
  
Dun & Bradstreet Corp.
2,902
256
  
Electronic Arts, Inc.(a)
4,488
1,396
  
EMC Corp.(a)
32,122
57
  
Fair Isaac Corp.
2,527
126
  
Fairchild Semiconductor International, Inc.(a)
1,797
202
  
Fidelity National Information Services, Inc.
7,605
108
  
Fiserv, Inc.(a)
8,868
111
  
Fortinet, Inc.(a)
2,684
1,344
  
Hewlett-Packard Co.
27,068
36
  
Hittite Microwave Corp.(a)
2,333
36
  
IHS, Inc., Class A(a)
3,825
69
  
Informatica Corp.(a)
2,416
3,236
  
Intel Corp.
67,471
710
  
International Business Machines Corp.
142,589
72
  
International Rectifier Corp.(a)
1,513
123
  
Intersil Corp., Class A
1,044
162
  
Intuit, Inc.
10,446
81
  
Jack Henry & Associates, Inc.
3,541
99
  
KLA-Tencor Corp.
5,421
180
  
Lam Research Corp.(a)
7,614
63
  
Lexmark International, Inc., Class A
1,387
120
  
Linear Technology Corp.
4,589
452
  
LSI Corp.(a)
3,146
305
  
Marvell Technology Group Ltd. (Bermuda)
3,080
153
  
Maxim Integrated Products, Inc.
4,771
63
  
MedAssets, Inc.(a)
1,164
105
  
Microchip Technology, Inc.
3,829
512
  
Micron Technology, Inc.(a)
4,296
66
  
MICROS Systems, Inc.(a)
2,825
93
  
Microsemi Corp.(a)
1,919
5,057
  
Microsoft Corp.
140,585
72
  
MSCI, Inc., Class A(a)
2,385
165
  
NCR Corp.(a)
4,551
211
  
NetApp, Inc.(a)
7,138
184
  
Nuance Communications, Inc.(a)
3,387
326
  
NVIDIA Corp.
4,127
308
  
ON Semiconductor Corp.(a)
2,464
2,566
  
Oracle Corp.
87,911
129
  
Pitney Bowes, Inc.
1,690
211
  
PMC - Sierra, Inc.(a)
1,369
66
  
Progress Software Corp.(a)
1,486
105
  
PTC, Inc.(a)
2,430
105
  
QLogic Corp.(a)
1,195
1,132
  
QUALCOMM, Inc.
74,293
78
  
Rambus, Inc.(a)
440
114
  
Red Hat, Inc.(a)
5,792
132
  
Riverbed Technology, Inc.(a)
2,017
78
  
Rovi Corp.(a)
1,388
54
  
Salesforce.com, Inc.(a)
9,138
138
  
SanDisk Corp.(a)
6,954
84
  
Semtech Corp.(a)
2,568
39
  
Silicon Laboratories, Inc.(a)
1,619
126
  
Skyworks Solutions, Inc.(a)
2,684
72
  
SolarWinds, Inc.(a)
4,065
60
  
Solera Holdings, Inc.
3,378
108
  
Synopsys, Inc.(a)
3,783
265
  
Take-Two Interactive Software, Inc.(a)
3,880
123
  
Teradata Corp.(a)
7,141
159
  
Teradyne, Inc.(a)
2,665
548
  
Texas Instruments, Inc.
18,835
21
  
Unisys Corp.(a)
483
36
  
Veeco Instruments, Inc.(a)
1,149
60
  
VeriFone Systems, Inc.(a)
1,138
48
  
VMware, Inc., Class A(a)
3,448
138
  
Western Digital Corp.
6,508
915
  
Xerox Corp.
7,421
141
  
Xilinx, Inc.
5,255
     
1,223,119
       
   
Utilities - 3.5%
  
368
  
AES Corp.
4,276
92
  
AGL Resources, Inc.
3,676
51
  
ALLETE, Inc.
2,397
72
  
Alliant Energy Corp.
3,434
171
  
Ameren Corp.
5,778
238
  
American Electric Power Co., Inc.
11,136
144
  
American Water Works Co., Inc.
5,681
141
  
Aqua America, Inc.
4,107
72
  
Atmos Energy Corp.
2,748
72
  
Avista Corp.
1,886
338
  
Calpine Corp.(a)
6,219
229
  
CenterPoint Energy, Inc.
4,908
66
  
Cleco Corp.
2,924
135
  
CMS Energy Corp.
3,592
144
  
Consolidated Edison, Inc.
8,496
302
  
Dominion Resources, Inc.
16,912
93
  
DTE Energy Co.
6,212
384
  
Duke Energy Corp.
26,592
205
  
Edison International
9,846
138
  
Entergy Corp.
8,592
512
  
Exelon Corp.
15,867
277
  
FirstEnergy Corp.
10,936
123
  
Great Plains Energy, Inc.
2,685
96
  
Hawaiian Electric Industries, Inc.
2,591
51
  
IDACORP, Inc.
2,381
66
  
Integrys Energy Group, Inc.
3,734
39
  
ITC Holdings Corp.
3,296
150
  
MDU Resources Group, Inc.
3,624
45
  
National Fuel Gas Co.
2,619
48
  
New Jersey Resources Corp.
2,139
205
  
NextEra Energy, Inc.
14,733
184
  
NiSource, Inc.
5,097
214
  
Northeast Utilities
8,883
39
  
Northwest Natural Gas Co.
1,776
60
  
NorthWestern Corp.
2,339
311
  
NRG Energy, Inc.
7,464
199
  
NV Energy, Inc.
3,932
48
  
OGE Energy Corp.
2,780
51
  
Ormat Technologies, Inc.
1,042
180
  
Pepco Holdings, Inc.
3,652
253
  
PG&E Corp.
10,788
78
  
Piedmont Natural Gas Co., Inc.
2,515
69
  
Pinnacle West Capital Corp.
3,860
108
  
PNM Resources, Inc.
2,426
93
  
Portland General Electric Co.
2,761
281
  
PPL Corp.
8,660
244
  
Public Service Enterprise Group, Inc.
7,952
108
  
Questar Corp.
2,539
78
  
SCANA Corp.
3,810
129
  
Sempra Energy
10,031
42
  
South Jersey Industries, Inc.
2,316
506
  
Southern Co.
22,775
57
  
Southwest Gas Corp.
2,582
165
  
TECO Energy, Inc.
2,846
84
  
UGI Corp.
3,009
87
  
Vectren Corp.
2,871
99
  
Westar Energy, Inc.
3,071
51
  
WGL Holdings, Inc.
2,151
138
  
Wisconsin Energy Corp.
5,699
244
  
Xcel Energy, Inc.
7,003
     
350,647
       
   
Total Common Stocks - 99.6%
  
   
(Cost $8,779,577)
10,073,654
       
   
Preferred Stock - 0.0%*
  
   
Consumer, Cyclical - 0.0%*
  
1
  
Orchard Supply Hardware Stores Corp.(a)
$2
   
(Cost $1)
  
       
   
Master Limited Partnerships - 0.1%
  
   
Energy - 0.1%
  
30
  
Atlas Energy, LP
1,252
93
  
Energy Transfer Equity, LP
4,947
51
  
Energy Transfer Partners, LP
2,443
   
(Cost $5,729)
8,642
       
   
Total Long-Term Investments - 99.7%
  
   
(Cost $8,785,307)
10,082,298
       
   
Investments of Collateral for Securities Loaned - 0.4%
  
37,781
  
BNY Mellon Securities Lending Overnight Fund, 0.1879%(c)(d)
37,781
   
(Cost $37,781)
  
       
   
Total Investments - 100.1%
  
   
(Cost $8,823,088)
10,120,079
   
Liabilities in excess of Other Assets - (0.1%)
(6,300)
   
Net Assets  - 100.0%
$          10,113,779
 
LLC - Limited Liability Company
LP - Limited Partnership
NV - Publicly Traded Company
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 February 28, 2013.
  
     
(c)
At February 28, 2013, the total market value of the Fund's securities on loan was $37,755 and the total market value of the collateral held by the Fund was $38,660, consisting of cash collateral of $37,781 and U.S. Government and Agency securities valued at $879.
     
(d)
Interest rate shown reflects yield as of February 28, 2013.
  
     
 
Securities are classified by sectors that represent broad groupings of related industries.
 
 
 
 
 
Statement of Assets and Liabilities
            
February 28, 2013 (unaudited)
            
             
   
Wilshire 4500
    
Wilshire 5000
  
   
Completion ETF
    
Total Market ETF
  
   
(WXSP)
    
(WFVK)
  
Assets
            
Investments in securities, at value (including securities on loan)
   $ 7,141,366     $ 10,120,079  
Cash
     26,776       9,946  
Receivables:
                
Dividends
     5,723       22,232  
Securities lending income
     567       231  
Total assets
     7,174,432       10,152,488  
                 
Liabilities
                
Payables:
                
    Collateral for securities on loan payable
     90,241       37,781  
Accrued advisory fees
     977       928  
Total liabilities
     91,218       38,709  
Net Assets
   $ 7,083,214     $ 10,113,779  
                 
Composition of Net Assets
                
Paid-in capital
   $ 5,010,367     $ 8,757,531  
Accumulated undistributed net investment income (loss)
     18,191       33,308  
Accumulated net realized gain (loss) on investments
     100,792       25,949  
Net unrealized appreciation (depreciation) on investments
     1,953,864       1,296,991  
Net Assets
   $ 7,083,214     $ 10,113,779  
                 
Shares outstanding ($0.01 par value with unlimited amount authorized)
     200,000       300,000  
Net Asset Value Per Share
   $ 35.42     $ 33.71  
                 
Investments in securities, at cost
   $ 5,187,502     $ 8,823,088  
Securities on loan, at value
   $ 88,003     $ 37,755  
                 
See notes to financial statements.
                
 
 
 
 
 
Statement of Operations
            
For the Six Months ended February 28, 2013 (unaudited)
            
             
             
   
Wilshire 4500
    
Wilshire 5000
  
   
Completion ETF
    
Total Market ETF
  
   
(WXSP)
    
(WFVK)
  
             
Investment Income
            
Dividend income
   $ 83,260     $ 88,132  
Less return of capital distributions received
     (4,298 )     (535 )
Foreign taxes withheld
     (94 )     (25 )
Net dividend income
     78,868       87,572  
Net securities lending income
     4,068       1,282  
Other income
                
Total investment income
     82,936       88,854  
 
                
Expenses
                
Advisory fee <Note 3>
     5,912       4,323  
Net expenses
     5,912       4,323  
Net Investment Income (Loss)
     77,024       84,531  
                 
Realized and Unrealized Gain (Loss)
                
Net realized gain (loss) on:
                
Investments
     98,112       25,779  
In-kind transactions
     -       -  
Net realized gain (loss)
     98,112       25,779  
Net change in unrealized appreciation (depreciation)
     722,082       602,772  
Net realized and unrealized gain (loss)
     820,194       628,551  
                 
Net Increase (Decrease) in Net Assets Resulting from Operations
   $ 897,218     $ 713,082  
                 
See notes to financial statements.
 
 
 
 
 
Statement of Changes in Net Assets
                        
                         
   
Wilshire 4500 Completion ETF (WXSP)
    
Wilshire 5000 Total Market ETF (WFVK)
  
   
For the Six Months
    
 
    
For the Six Months
    
 
  
   
Ended
    
For the Year
    
Ended
    
For the Year
  
   
February 28, 2013
    
Ended
    
February 28, 2013
    
Ended
  
   
(unaudited)
    
August 31, 2012
    
(unaudited)
    
August 31, 2012
  
                         
Increase (Decrease) in Net Assets Resulting from Operations
                        
Net investment income (loss)
   $ 77,024     $ 96,085     $ 84,531     $ 119,573  
Net realized gain (loss)
     98,112       (3,085 )     25,779       (3,962 )
Net change in unrealized appreciation (depreciation)
     722,082       619,206       602,772       787,797  
  Net increase (decrease) in net assets resulting from operations
     897,218       712,206       713,082       903,408  
                                 
Distributions to Shareholders
                                
From and in excess of net investment income
     (114,000 )     (51,600 )     (130,200 )     (94,000 )
Capital gains
     -       (8,000 )     -       (1,200 )
  Total distributions
     (114,000 )     (59,600 )     (130,200 )     (95,200 )
                                 
Capital Share Transactions
                                
Proceeds from sale of shares
     -       -       3,259,040       -  
Cost of shares redeemed
     -       -       -       -  
 Net increase (decrease) from capital share transactions
     -       -       3,259,040       -  
                                 
 Total increase (decrease) in net assets
     783,218       652,606       3,841,922       808,208  
                                 
Net Assets
                                
Beginning of period
     6,299,996       5,647,390       6,271,857       5,463,649  
 
                                
End of period
   $ 7,083,214     $ 6,299,996     $ 10,113,779     $ 6,271,857  
                                 
Accumulated undistributed net investment income (loss) at end of period
   $ 18,191     $ 55,167     $ 33,308     $ 78,977  
                                 
Changes in Shares Outstanding
                                
Shares sold
     -       -       100,000       -  
Shares redeemed
     -       -       -       -  
Shares outstanding, beginning of period
     200,000       200,000       200,000       200,000  
Shares outstanding, end of period
     200,000       200,000       300,000       200,000  
 
                                
See notes to financial statements.
 
 
 
 
 
WXSP | Wilshire 4500 Completion ETF
                
Financial Highlights
                
               
   
For the Six Months
          
For the Period     
   
Ended
  
For the
  
For the
  
March 9, 2010*       
   
February 28, 2013
Year Ended
  
Year Ended
  
through
  
   
(unaudited)
  
August 31, 2012
August 31, 2011
August 31, 2010     
Per share operating performance
                
for a share outstanding throughout the period
                
Net asset value, beginning of period
 $                            31.50
  
 $                                28.24
  
 $                                23.36
  
 $                                25.05
  
Income from investment operations
                
 
Net investment income (loss) (a)
                                 0.39
  
                                     0.48
  
                                     0.38
  
                                     0.14
  
 
Net realized and unrealized gain (loss)
                                 4.10
  
                                     3.08
  
                                     4.84
  
                                   (1.83)
  
 
      Total from investment operations
                                 4.49
  
                                     3.56
  
                                     5.22
  
                                   (1.69)
  
Distributions to shareholders
                
 
From and in excess of net investment income
                               (0.57)
  
                                   (0.26)
  
                                   (0.34)
  
                                        -
  
 
Capital gains
                                     -
  
                                   (0.04)
  
                                        -
  
                                        -
  
 
Total distributions to shareholders
                               (0.57)
  
                                   (0.30)
  
                                   (0.34)
  
                                        -
  
Net asset value, end of period
 $                            35.42
  
 $                                31.50
  
 $                                28.24
  
 $                                23.36
  
Market value, end of period
 $                            35.58
  
 $                                31.43
  
 $                                28.00
  
 $                                23.44
  
                   
Total return (b)
                
 
Net asset value
14.40%
  
12.72%
  
22.26%
  
-6.75%
  
                   
Ratios and supplemental data
                
Net assets, end of period (thousands)
 $                            7,083
  
 $                                6,300
  
 $                                5,647
  
 $                                4,672
  
Ratio of net expenses to average net assets (e)
0.18%
(c)
0.18%
  
0.18%
  
0.18%
(c)
Ratio of net investment income to average net assets
2.35%
(c)
1.62%
  
1.28%
  
1.18%
(c)
Portfolio turnover rate (d)
5%
  
15%
  
12%
  
6%
  
 
*
Commencement of investment operations.
(a)
Based on average shares outstanding during the period.
(b)
Total investment return is calculated assuming a purchase of a common share at the beginning of
 
the period and a sale on the last day of the period reported at net asset value ("NAV").
 
Dividends and distributions are assumed to be reinvested at NAV.  Total investment return does
 
not reflect brokerage commissions.  A return calculated for a period of less than one year
 
is not annualized.
(c)
Annualized.
(d)
Portfolio turnover is not annualized for periods of less than one year and does not include securities received or
 
delivered from processing creations or redemptions.
(e)
Expense ratio does not reflect fees and expenses incurred indirectly by the Fund as a result of its investments in shares of other business development companies.
 
If these fees were included in the expense ratio, the net impact to the expense ratio would be approximately 0.01% for the six months ended February 28, 2013,
 
and 0.02% and 0.01% for the years ended August 31, 2012 and August 31, 2011, respectively.
   
 
See notes to financial statements.
 
 
 
 
 
WFVK | Wilshire 5000 Total Market ETF
                
Financial Highlights
                
                   
   
For the
          
For the Period
   
Six Months Ended
          
March 9, 2010*
   
February 28, 2013
  
For the Year Ended
  
For the Year Ended
  
through
   
(unaudited)
  
August 31, 2012
  
August 31, 2011
   August, 31, 2010
 
Per share operating performance
                
for a share outstanding throughout the period
                
Net asset value, beginning of period
 $                 31.36
  
 $                     27.32
  
 $                     23.27
  
 $                25.01
  
Income from investment operations
                
 
Net investment income (a)
                      0.38
  
                          0.60
  
                          0.51
  
                     0.22
  
 
Net realized and unrealized gain (loss)
                      2.62
  
                          3.92
  
                          3.94
  
                   (1.96)
  
 
      Total from investment operations
                      3.00
  
                          4.52
  
                          4.45
  
                   (1.74)
  
Distributions to shareholders
                
 
From net investment income
                    (0.65)
  
                        (0.47)
  
                        (0.40)
  
                        -
  
 
Capital gains
                         -
 
                        (0.01)
 
                             -
 
                        -
 
 
Total distributions
                    (0.65)
  
                        (0.48)
  
                        (0.40)
  
                        -
  
                   
Net asset value, end of period
 $                 33.71
  
 $                     31.36
  
 $                     27.32
  
 $                23.27
  
Market value, end of period
 $                 33.86
  
 $                     31.28
  
 $                     27.38
  
 $                23.37
  
                   
Total return (b)
                
 
Net asset value
9.71%
  
16.76%
  
19.09%
  
-6.96%
  
                   
Ratios and supplemental data
                
Net assets, end of period (thousands)
 $                10,114
  
 $                     6,272
  
 $                     5,464
  
 $                 2,327
  
Ratio of net expenses to average net assets
0.12%
(c)
0.12%
  
0.12%
  
0.12%
(c)
Ratio of net investment income to average net assets
2.35%
(c)
2.05%
  
1.80%
  
1.82%
(c)
Portfolio turnover rate (d)
3%
  
5%
  
4%
  
3%
  
 
*
Commencement of investment operations.
(a)
Based on average shares outstanding during the period.
(b)
Total investment return is calculated assuming a purchase of a common share at the beginning of
 
the period and a sale on the last day of the period reported at net asset value ("NAV").  Dividends
 
and distributions are assumed to be reinvested at NAV.  Total investment return does not reflect
 
brokerage commissions.  A return calculated for a period of less than one year is not annualized.
(c)
Annualized.
(d)
Portfolio turnover is not annualized for periods of less than one year and does not include securities
 
received or delivered from processing creations or redemptions.
   
 
See notes to financial statements.
 
 
 
 
 
Notes to Financial Statements
February 28, 2013 (Unaudited)

Note 1 – Organization:
Claymore Exchange-Traded Fund Trust (the “Trust”), which is registered under the Investment Company Act of 1940, as amended (the “1940 Act”), is an open-end, management investment company that was organized as a Delaware statutory trust on May 24, 2006.  At a meeting on February 15, 2013, the Board of Trustees approved the termination of the Wilshire 4500 Completion ETF  and Wilshire 5000 Total Market ETF (each a “Fund” or collectively the “Funds”).  The Funds have ceased operation with liquidation proceeds distributed to shareholders of record as of March 22, 2013.  The Funds have a semiannual reporting period ended on February 28, 2013 and liquidated March 22, 2013.

Each portfolio represents a separate series of the Trust (each a “Fund” or collectively the “Funds”).  Each Fund’s shares are listed and traded on the NYSE Arca, Inc. (“NYSE Arca”). The Funds’ market prices may differ to some degree from the net asset value (“NAV”) of the shares of each Fund. Unlike conventional mutual funds, each Fund issues and redeems shares on a continuous basis, at NAV, only in a large specified number of shares; each called a “Creation Unit.” Creation Units are issued and redeemed principally in-kind for securities included in the relevant index. Except when aggregated in Creation Units, shares are not individually redeemable securities of the Funds. The investment objective of each of the Funds is to correspond generally to the performance, before fees and expenses, of the following market indices:
 
Fund
Index
Wilshire 4500 Completion ETF
Wilshire 4500 Completion IndexSM
Wilshire 5000 Total Market ETF
Wilshire 5000 Total Market IndexSM
 
Note 2 –Accounting Policies:

The preparation of the financial statements in accordance with U.S. generally accepted accounting principles (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts and disclosures in the financial statements. Actual results could differ from these estimates.

The following is a summary of the significant accounting policies followed by the Funds.

(a) Valuation of Investments
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 ask 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”). A valuation committee consisting of representatives from investments, fund administration, legal and compliance is responsible for the oversight of the valuation process of the Funds and convenes monthly, or more frequently as needed.  The valuation committee reviews monthly Level 3 fair valued securities methodology, price overrides, broker quoted securities, price source changes, illiquid securities, stale priced securities, halted securities, price challenges, fair valued securities sold and back testing trade prices in relation to prior day closing prices.  On a quarterly basis, the valuations and methodologies of all Level 3 fair valued securities are presented to the Funds’ 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 1valuations 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 Funds value Level 1 securities using readily available market quotations in active markets. The Funds value 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 Funds value Level 2 equity securities using various observable market inputs as described above.

The valuation process involved for Level 3 measurements for the Funds is completed on a daily basis and is designed to subject the Level 3 valuations to an appropriate level of oversight and review. For Level 3 securities, the Funds utilize a pricing committee (“Pricing Committee”) which is comprised of employees of the Investment Advisor or its affiliates responsible for implementing the valuation procedures established by the Funds. Investment professionals prepare preliminary valuations based on their evaluation of financial data, company specific developments, market valuations of comparable companies, market information 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 tables represent the Funds’ investments carried on the Statement of Assets and Liabilities by caption and by level within the fair value hierarchy as of February 28, 2013:

Wilshire 4500 Completion ETF
                        
Description
  
Level 1
    
Level 2
    
Level 3
    
Total
  
(value in $000s)
                        
Assets:
                        
Common Stocks
   $ 7,049                 $ 7,049  
Master Limited Partnership
     2       -       -       2  
Warrants
     -       - †     -       - †
Investments of Collateral for Securities Loaned
     90       -       -       90  
Total
   $ 7,141     $ - †   $ -     $ 7,141  
 
† Market value is less than minimum amount disclosed.
 
 
 
 
 
There were no transfers between valuation levels as of the report date when compared to the valuation levels at the end of the previous fiscal year.

The following table presents the activity of the Fund’s investments measured at fair value using significant unobservable inputs (Level 3 valuations) for the six-months ended February 28, 2013.

Level 3 Holdings
  
Common Stock
  
Beginning Balance at 8/31/12
   $ 1  
Net Realized Gain/Loss
     (2 )
Change in Unrealized Gain/Loss
     2  
Purchases
     -  
Sales
     (1 )
Transfers In
     -  
Transfers Out
     -  
Ending Balance at 2/28/13
   $ -  
 
Wilshire 5000 Total Market ETF
                        
Description
  
Level 1
    
Level 2
    
Level 3
    
Total
  
(value in $000s)
                        
Assets:
                        
Common Stocks
   $ 10,074     $ -     $ -     $ 10,074  
Preferred Stocks
     - †     -       -       - †
Master Limited Partnerships
     8       -       -       8  
Investments of Collateral for Securities on Loaned
     38       -       -       38  
Total
   $ 10,120     $ -     $ -     $ 10,120  
                                 
† Market value is less than minimum amount disclosed.
                  
   
There were no transfers between valuation levels as of the report date when compared to the valuation levels at the end of the previous fiscal year.
  

(b) Investment Transactions and Investment Income
Investment transactions are accounted for on the trade date. Realized gains and losses on investments are determined on the identified cost basis. Dividend income is recorded net of applicable withholding taxes on the ex-dividend date and interest income is recorded on an accrual basis. Discounts on debt securities purchased are accreted to interest income over the lives of the respective securities using the effective interest method.  Premiums on debt securities purchased are amortized to interest income up to the next call date of the respective securities using the effective interest method.
 
 
 
 

The Funds record the character of dividends received from master limited partnerships (“MLPs”) based on estimates made at the time such distributions are received. These estimates are based upon a historical review of information available from each MLP and other industry sources. The characterization of the estimates may subsequently be revised based on information received from MLPs after their tax reporting periods conclude.

Real Estate Investment Trust (“REIT”) distributions received by a Fund are generally comprised of ordinary income, long-term and short-term capital gains and return of capital.  The actual character of amounts received during the year is not known until after the fiscal year end.  A Fund records the character of distributions received from REITs during the year based on historical information available.  A Fund’s characterization may be subsequently revised based on information received from REITs after their tax reporting periods conclude.

(c) Distributions
The Funds intend to pay substantially all of their net investment income to shareholders through annual distributions. In addition, the Funds intend to distribute any capital gains to shareholders as capital gain dividends at least annually.  The amount and timing of distributions are determined in accordance with federal income tax regulations, which may differ from GAAP.

(d) Security Lending
Each Fund may lend portfolio securities to certain creditworthy borrowers, including the Funds’ securities lending agent. The loans are collateralized at all times by cash and/or high grade debt obligations in an amount at least equal to 102% of the market value of domestic securities loaned and 105% of foreign securities loaned as determined at the close of business on the preceding business day. The cash collateral received is invested with the securities lending agent in an overnight securities lending fund. The overnight securities lending fund is comprised of short-term investments valued at amortized cost, which approximates market value.Each Fund receives compensation for lending securities from interest or dividends earned on the cash, cash equivalents or U.S. government securities held as collateral, net of fee rebates paid to the borrower plus reasonable administrative and custody fees. Such compensation is accrued daily and payable to the Fund monthly.  The dividend and interest income earned on the securities loaned is accounted for in the same manner as other dividend and interest income. The borrower pays to the Funds an amount equal to any dividends or interest received on loaned securities. These payments from the borrower are not eligible for reduced tax rates as “qualified dividend income” under the Jobs and Growth Tax Reconciliation Act of 2003. The Funds retain all or a portion of the interest received on investment of cash collateral or receives a fee from the borrower. Lending portfolio securities could result in a loss or delay in recovering each Fund’s securities if the borrower defaults.  The securities lending income earned by the Funds is disclosed on the Statement of Operations.
.
Note 3 – Investment Advisory Agreement and Other Agreements:
Pursuant to an Investment Advisory Agreement (the “Agreement”) between the Trust, on behalf of each Fund, and Guggenheim Funds Investment Advisors, LLC (the “Investment Adviser”), the Investment Adviser manages the investment and reinvestment of each Fund’s assets and administers the affairs of each Fund to the extent requested by the Board of Trustees.

Pursuant to the Agreement, the Funds listed in the following table pay the Investment Adviser a unitary management fee for the services and facilities it provides.  The unitary management fee is payable on a monthly basis at the annual rate set forth below based on each Fund’s average daily net assets:

Fund
Rate
Wilshire 4500 Completion ETF
0.18%
Wilshire 5000 Total Market ETF
0.12%
 
Out of the unitary management fee, the Investment Adviser pays substantially all the expenses of each Fund, including the cost of  transfer agency, custody, fund administration, legal, audit, and other services, except for the fee payments under the Agreement, distribution fees, if any, brokerage expenses, taxes, interest, litigation expenses and other extraordinary expenses.
 
 
 
 

Due to their unitary fee structure Wilshire 4500 Completion ETF and Wilshire 5000 Total Market ETF do not charge a separate Fund Administration fee.

The Bank of New York Mellon Corp. (“BNY”) acts as the Funds’ custodian, accounting agent, transfer agent and securities lending agent.  As custodian, BNY is responsible for the custody of the Funds’ assets.  As accounting agent, BNY is responsible for maintaining the books and records of the Funds.  As transfer agent, BNY is responsible for performing transfer agency services for the Funds.  As security lending agent, BNY is responsible for executing the lending of portfolio securities to creditworthy borrowers.

Guggenheim Partners Investment Management, LLC (“GPIM”) acts as the sub-adviser for Wilshire 4500 Completion ETF and Wilshire 5000 Total Market ETF.  In this capacity, GPIM directs the purchases and sales of each Fund’s investment securities.

Certain officers and trustees of the Trust may also be officers, directors and/or employees of the Investment Adviser or GPIM.  The Trust does not compensate its officers or trustees who are officers, directors and/or employees of the Investment Adviser or GPIM.

Licensing Fee Agreements:
The Adviser has entered into licensing agreements on behalf of each Fund with the following Licensors:
 
Fund
Licensor
Wilshire 4500 Completion ETF
Wilshire Associates, Inc.
Wilshire 5000 Total Market ETF
Wilshire Associates, Inc.

The above trademarks are trademarks owned by the respective Licensors.  These trademarks have been licensed to the Investment Adviser for use for certain purposes with the Funds. The Funds are not sponsored, endorsed, sold or promoted by the Licensors and the Licensors make no representation regarding the advisability of investing in shares of the Funds.

Note 4 – Federal Income Taxes:
The Funds intend to comply with the requirements of Subchapter M of the Internal Revenue Code of 1986, as amended, applicable to regulated investment companies.  Accordingly, no provision for U.S. federal income taxes is required.  In addition, by distributing substantially all of its ordinary income and long-term capital gains, if any, during each calendar year, each Fund intends not to be subject to U.S. federal excise tax.

At February 28, 2013, the cost of investments and accumulated unrealized appreciation/depreciation on investments, excluding foreign currency, for federal income tax purposes were as follows:

 
 
Cost of
Investments
for Tax
Purposes
 
Gross Tax
Unrealized
Appreciation
 
Gross Tax
Unrealized
Depreciation
Net Tax
Unrealized
Appreciation
(Depreciation)
Wilshire 4500 Completion ETF
$5,171,796
$2,150,318
$(180,748)
$1,969,570
Wilshire 5000 Total Market ETF
8,820,980
1,547,276
(248,177)
1,299,099

Tax components of the following balances as of August 31, 2012 (the most recent fiscal year end for federal income tax purposes), were as follows:

 
Undistributed
Ordinary Income/
(Accumulated
Ordinary Loss)
Undistributed
Long-Term
Gains/(Accumulated
Capital & Other Loss)
Wilshire 4500 Completion ETF
$55,168
$(13,027)
Wilshire 5000 Total Market ETF
78,966
(1,927)
 
 
 
 
 
Distributions to Shareholders:
The tax character of distributions paid during the period ended August 31, 2012 (the most recent fiscal year end for federal income tax purposes), was as follows:

 
Distributions paid from
Ordinary Income
Distributions paid from
Capital Gains
Wilshire 4500 Completion ETF
$58,554
$1,046
Wilshire 5000 Total Market ETF
94,008
1,192

At August 31, 2012 (the most recent fiscal year end for federal income tax purposes), the Funds have capital loss carryforwards available as shown in the table below, to the extent provided by the regulations, to offset future capital gains through the years indicated. To the extent that these loss carryforwards are used to offset future capital gains, it is probable that the capital gains so offset will not be distributed to shareholders.  Per the Regulated Investment Company Modernization Act of 2010, capital loss carryforwards generated in taxable years beginning after December 22, 2010 must be fully used before capital loss carryforwards generated in taxable years prior to December 22, 2010 are used; therefore, under certain circumstances, capital loss carryforwards available as of the report date, if any, may expire unused.
 
 
Unlimited
Short-Term
Capital Loss
Unlimited
Long-Term
Capital Loss
Total
Wilshire 4500 Completion ETF
$-
$13,027
$13,027
Wilshire 5000 Total Market ETF
1,235
-
1,235

Capital losses incurred after October 31 (“post-October losses”) within the taxable year are deemed to arise on the first business day of each Fund’s next taxable year. During the period ended August 31, 2012 (the most recent fiscal year end for federal income tax purposes), the following Funds incurred and will elect to defer  the following current year post-October losses as though the losses were incurred on the first day of the next fiscal year.

 
Post-October
Capital Losses
Wilshire 4500 Completion ETF
$-
Wilshire 5000 Total Market ETF
692
 
For all open tax years and all major jurisdictions, management of the Trust has concluded that there are no significant uncertain tax positions that would require recognition in the financial statements.  Uncertain tax positions are tax positions taken or expected to be taken in the course of preparing each Fund’s tax returns that would not meet a more-likely-than-not threshold of being sustained by the applicable tax authority and would be recorded as a tax expense in the current year.  Open tax years are those that are open for examination by taxing authorities (i.e. generally the last four tax year ends and the interim tax period since then).  Furthermore, management of the Trust is also not aware of any tax positions for which it is reasonably possible that the total amounts of unrecognized tax benefits will significantly change in the next twelve months.
 
 
 
 

Note 5 - Investment Transactions:
For the six months ended February 28, 2013, the cost of investments purchased and proceeds from sales of investments, excluding short-term investments and in-kind transactions, were as follows:

 
Purchases
Sales
Wilshire 4500 Completion ETF
$345,674
$384,096
Wilshire 5000 Total Market ETF
3,383,867
187,061

For the six months ended February 28, 2013, in-kind transactions were as follows:

 
Purchases
Sales
Wilshire 4500 Completion ETF
$1,759
$-
Wilshire 5000 Total Market ETF
197
-

Note 6 – Capital:
Shares are issued and redeemed by the Funds only in creation unit size aggregations of 100,000 to 200,000 shares.  Transactions are only permitted on an in-kind basis, with separate cash payment, which is balancing each component to equate the transaction to the net asset value per share of the Fund on the transaction date.  Transaction fees ranging from $6,000 to $7,500 are charged to those persons creating or redeeming creation units.  An additional charge on the transaction may be imposed with respect to transactions effected outside of the clearing process or to the extent that cash is used in lieu of securities to purchase creation units or redeem for cash.

Note 7 - Distribution and Service Plan:
The Board of Trustees of the Trust has adopted a distribution and service plan (the “Plan”) pursuant to Rule 12b-1 under the 1940 Act. Under the Plan, each Fund is authorized to pay distribution fees in connection with the sale and distribution of its shares and pay service fees in connection with the provision of ongoing services to shareholders and the maintenance of shareholder accounts in an amount up to 0.25% of its average daily net assets each year. No 12b-1 fees were paid by the Funds.

Note 8 – Indemnifications:
In the normal course of business, the Funds enter into contracts that contain a variety of representations, which provide general indemnifications.  Each Fund’s maximum exposure under these arrangements is unknown, as this would require future claims that may be made against a Fund that have not yet occurred.  However, the Funds expect the risk of loss to be remote.

Note 9 – Subsequent Events:
The Funds evaluated subsequent events through the date the financial statements were available for issue and determined there were no additional material events that would require disclosure in the Funds’ financial statements, except as noted below.

The Wilshire 4500 Completion ETF and Wilshire 5000 Total Market ETF ceased trading on the NYSE Arca on March 15, 2013.  All shareholders remaining on March 22, 2013 received the value of their shares as summarized below.

 
Liquidation Distribution
Wilshire 4500 Completion ETF
$36.845
Wilshire 5000 Total Market ETF
$34.819

 
 
 
 

Supplemental Information | (unaudited)

In January 2013, shareholders will be advised on IRS Form 1099 DIV or substitute 1099 DIV as to the federal tax status of the distributions received by shareholders in the calendar year 2012.

Trustees
The Trustees of the Trust and their principal business occupations during the past five years.

Name, Address*,
Year of Birth and
Position(s) held
with Registrant
Term of
Office** and
Length of
Time Served
Principal Occupations during
the Past Five Years and
Other Affiliations
Number of
Funds in the
Fund
Complex***
Overseen by
Trustee
Other Directorships Held by Trustee
Independent Trustees:
        
Randall C. Barnes
Year of Birth: 1951
Trustee
Since 2006
Private Investor (2001-present).  Formerly, Senior Vice President and Treasurer, PepsiCo, Inc. (1993-1997), President, Pizza Hut International (1991-1993) and Senior Vice President, Strategic Planning and New Business Development of PepsiCo, Inc. (1987-1990).
    48
 
None
Roman Friedrich III
Year of Birth: 1946
Trustee
Since 2010
Founder and President of Roman Friedrich & Company, Ltd., a US and Canadian-based business, which provides investment banking to the mining industry (1998-present). Formerly, Senior Managing Director of MLV & Co., LLC, an investment bank and institutional broker-dealer specializing in capital intensive industries such as energy, metals and mining (2010-2011).
    44
Director of First Americas Gold Corp. (2012-present), Zincore Metals, Inc. (2009 – present). Previously, Director of Blue Sky Uranium Corp. (formerly Windstorm Resources Inc.) (April 2011-July 2012),  Director of Axiom Gold and Silver Corp. (2011-2012), Stratagold Corp. (2003-2009); Gateway Gold Corp. (2004-2008) and GFM Resources Ltd. (2005-2010).
Robert B. Karn III
Year of Birth: 1942
Trustee
Since 2010
Consultant (1998-present). Formerly, Managing Partner, Financial and Economic Consulting, St. Louis office of Arthur Andersen (1977-1997).
    44
Director of Peabody Energy Company (2003-present), GP Natural Resource Partners LLC (2002-present).
Ronald A. Nyberg
Year of Birth: 1953
Trustee
 
 
 
 
 
 
 
Since 2006
 
 
 
 
 
 
 
Partner of Nyberg & Cassioppi, LLC, a law firm specializing in corporate law, estate planning and business transactions (2000-present). Formerly, Executive Vice President, General Counsel and Corporate Secretary of Van Kampen Investments (1982-1999).
    50
 
 
 
 
 
 
 
 
 
None
 
 
 
 

Name, Address*,
Year of Birth and
Position(s) held
with Registrant
Term of
Office** and
Length of
Time Served
Principal Occupations during
the Past Five Years and
Other Affiliations
Number of
Funds in the
Fund
Complex***
Overseen by
Trustee
Other Directorships Held by Trustee
Ronald E. Toupin, Jr.
Year of Birth: 1958
Trustee
Since 2006
Portfolio Consultant (2010-present).  Formerly, Vice President, Manager and Portfolio Manager of Nuveen Asset Management (1998-1999), Vice President of Nuveen Investment Advisory Corp. (1992-1999), Vice President and Manager of Nuveen Unit Investment Trusts (1991-1999), and Assistant Vice President and Portfolio Manager of Nuveen Unit Investment Trusts (1988-1999), each of John Nuveen & Co., Inc. (1982-1999).
    47
Trustee, Bennett Group of Funds (2011-present).
Interested Trustee:
        
Donald C. Cacciapaglia†
Year of Birth: 1951
Trustee, Chief Executive Officer
 
Since 2012
Senior Managing Director of Guggenheim Investments (2010-present); Chief Executive Officer of Guggenheim Funds Services, LLC (2012-present); Chief Executive Officer (2012-present) and President (2010-present), Guggenheim Funds
Distributors, LLC and Guggenheim Funds Investment Advisors, LLC; Chief Executive Officer of certain funds of Guggenheim Funds Fund Complex (2012-present); President and Director of SBL Fund, Security Equity Fund, Security Income Fund,
Security Large Cap Value Fund, and Security Mid Cap Growth Fund (2012-present); President, CEO and Trustee of Rydex Dynamic Funds, Rydex ETF Trust, Rydex Series
Funds and Rydex Variable Trust, (2012-present); Formerly Chairman and CEO of Channel Capital Group Inc. and Channel Capital Group LLC. (2002-2010).
  227
Trustee, Rydex Dynamic Funds, Rydex ETF Trust, Rydex Series Funds and Rydex Variable Trust (2012-present); Independent Board Member, Equitrust Life Insurance Company, Guggenheim Life and Annuity Company, and Paragon Life Insurance Company of Indiana (2011-present).
 
*
Address for all Trustees: 2455 Corporate West Drive, Lisle, IL 60532.
   
**
This is the period for which the Trustee began serving the Trust.  Each Trustee is expected to serve an indefinite term, until his successor is elected.
   
***
The Guggenheim Investments Fund Complex consists of U.S. registered investment companies advised or serviced by Guggenheim Funds Investment Advisors, LLC or Guggenheim Fund Distributors, LLC.  The Guggenheim Investments Fund Complex is overseen by multiple Boards of Trustees.
   
†
Mr. Donald C. Cacciapaglia is an “interested person” (as defined in section 2(a)(19) of the 1940 Act) (“Interested Trustee”) of the Trust because of his position as the President and CEO of the Investment Adviser and Distributor.
 
 
 
 
 
Principal Executive Officers
 
The Principal Executive Officers of the Trust, who are not trustees, and their principal occupations during the past five years:
 
Name, Address*, Year of
Birth and Position(s) held
with Registrant
Term of
Office** and
Length of
Time Served
Principal Occupations During
the Past Five Years and
Other Affiliations
     
Officers:
    
Amy J. Lee
Year of Birth: 1961
Chief Legal Officer
Since 2013***
Managing Director, Guggenheim Investments (2012-present); Senior Vice President & Secretary, Security Investors, LLC (2010 - present); Secretary & Chief Compliance Officer, Security Distributors, Inc. (1987 - 2012); Vice President, Associate General Counsel & Assistant Secretary, Security Benefit Life Insurance Company and Security Benefit Corporation (1987-2012); Vice President & Secretary, Rydex Series Funds, Rydex ETF Trust, Rydex Dynamic Funds, and Rydex Variable Trust(2008-present); Chief Legal Officer (2012) of certain funds in the Guggenheim Funds Complex.
 
John L. Sullivan
Year of Birth: 1955
Chief Accounting Officer,
Chief Financial Officer
Treasurer
 
Since 2010
Senior Managing Director of Guggenheim Funds Investment Advisors, LLC and Guggenheim Funds Distributors, LLC (2010-present). Chief Financial Officer, Chief Accounting Officer and Treasurer of certain funds in the Fund Complex. Formerly, Chief Compliance Officer, Van Kampen Funds (2004-2010). Head of Fund Accounting, Morgan Stanley Investment Management (2002-2004). Chief Financial Officer, Treasurer, Van Kampen Funds (1996-2004).
Joanna M. Catalucci
Year of Birth: 1966
 Chief Compliance Officer
Since 2012
Chief Compliance Officer of certain funds in the Fund Complex; and Managing Director of Compliance and Fund Board Relations, Guggenheim Investments (2012-present). Formerly, Chief Compliance Officer & Secretary, SBL Fund; Security Equity Fund; Security Income Fund; Security Large Cap Value Fund & Security Mid Cap Growth Fund; Vice President, Rydex Holdings, LLC; Vice President, Security Benefit Asset Management Holdings, LLC; and Senior Vice President & Chief Compliance Officer, Security Investors, LLC (2010-2012); Security Global Investors, LLC, Senior Vice President (2010-2011); Rydex Advisors, LLC (f/k/a PADCO Advisors, Inc.) and Rydex Advisors II, LLC (f/k/a PADCO Advisors II, Inc.), Chief Compliance Officer and Senior Vice President (2010-2011); Rydex Capital Partners I, LLC & Rydex Capital Partners II, LLC, Chief Compliance Officer (2006-2007); and Rydex Fund Services, LLC (f/k/a Rydex Fund Services, Inc.), Vice President (2001-2006).
 
Mark E. Mathiasen
Year of Birth: 1978
Secretary
 
Since 2011
Director, Associate General Counsel of Guggenheim Funds Services, LLC (2007-present). Secretary of certain funds in the Fund Complex.
Stevens T. Kelly
Year of Birth: 1982
Assistant Secretary
 
Since 2012
 
Assistant General Counsel of Guggenheim Funds Services, LLC (2011-present). Assistant Secretary of certain other funds in the Fund Complex.  Formerly, Associate at K&L Gates LLP (2008-2011), J.D., University of Wisconsin Law School (2005-2008).
William H. Belden, III
Year of Birth:  1965
Vice President
Since 2006
Managing Director of Guggenheim Funds Investment Advisors, LLC (2005-present).  Formerly, Vice President of Product Management at Northern Trust Global Investments (1999-2005).
 
* Address for all Officers: 2455 Corporate West Drive, Lisle, IL 60532
 
** Officers serve at the pleasure of the Board of Trustees and until his or her successor is appointed and qualified or until his or her earlier resignation or removal.
 
*** Effective February 12, 2013
 
 
 
 
 
 
Trust Information
  
   
Board of Trustees
Investment Adviser and Administrator
Randall C. Barnes
Guggenheim Funds Investment Advisors, LLC
Donald C. Cacciapaglia*
Lisle, IL
Roman Friedrich III
  
Robert B. Karn III
Distributor
Ronald A. Nyberg
Guggenheim Funds Distributors, LLC
Ronald E. Toupin, Jr.
Lisle, IL
Chairman
  
*Trustee is an “interested person” (as
defined in section 2(a)(19) of the 1940
Act) (“Interested Trustee”) of the Trust
because of his position as the President
and CEO of the Investment Adviser and
the Distributor.
  
   
Officers
Accounting Agent, Custodian
Donald C. Cacciapaglia
and Transfer Agent
Chief Executive Officer
The Bank of New York Mellon Corp.
 
New York, NY
Amy J. Lee
  
Chief Legal Officer
Legal Counsel
 
Dechert LLP
John L. Sullivan
New York, NY
Chief Accounting Officer,
  
Chief Financial Officer
Independent Registered Public
and Treasurer
Accounting Firm
 
Ernst & Young LLP
Joanna M. Catalucci
Chicago, IL
 Chief Compliance Officer
  
   
Mark M. Mathiasen
  
Secretary
  
   
Stevens T. Kelly
  
Assistant Secretary
  
   
William H. Belden III
  
Vice President
  
   

Privacy Principles of the Trust for Shareholders
The Funds are committed to maintaining the privacy of their shareholders and to safeguarding their non-public personal information. The following information is provided to help you understand what personal information the Funds collect, how we protect that information and why, in certain cases, we may share information with select other parties.

Generally, the Funds do not receive any non-public personal information relating to their shareholders, although certain non-public personal information of their shareholders may become available to the Funds.  The Funds do not disclose any
 
 
 
 
 
non-public personal information about their shareholders or former shareholders to anyone, except as permitted by law or as is necessary in order to service shareholder accounts (for example, to a transfer agent or third party administrator).

The Funds restrict access to non-public personal information about the shareholders to Guggenheim Funds Investment Advisors, LLC employees with a legitimate business need for the information.  The Funds maintain physical, electronic and procedural safeguards designed to protect the non-public personal information of their shareholders.
 
Questions concerning your shares of the Trust?
·  
If your shares are held in a Brokerage Account, contact your Broker.

This report is sent to shareholders of the Funds for their information.  It is not a Prospectus, circular or representation intended for use in the purchase or sale of shares of the Funds or of any securities mentioned in this report.

A description of the Funds’ proxy voting policies and procedures related to portfolio securities is available without charge, upon request, by calling the Funds at (800) 345-7999.  Information  regarding how the Funds voted proxies for portfolio securities, if applicable, during the most recent 12-month period ended June 30, is also available, without charge and upon request by calling (800) 345-7999, by visiting Guggenheim Investment’s website at www.guggenheiminvestments.com or by accessing the Funds’ Form N-PX on the U.S. Securities and Exchange Commission’s (“SEC”) website at www.sec.gov.

The Funds file their complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-Q. The Funds’ Form N-Q is available on the SEC website at www.sec.gov or by visiting Guggenheim Investment’s  website at www.guggenheiminvestments.com.  The Funds’ Form N-Q may also be viewed and copied at the SEC’s Public Reference Room in Washington, DC; information on the operation of the Public Reference Room may be obtained by calling (800) SEC-0330.
 
 
 
 

 
ABOUT THE TRUST ADVISER

Guggenheim Funds Investment Advisors, LLC
Guggenheim Funds Investment Advisors, LLC (the “Investment Adviser”) serves as the investment adviser for each of the Funds and administers the affairs of each Fund to the extent requested by the Board of Trustees. The Investment Adviser also acts as investment adviser to closed-end and open-end management investment companies. The Investment Adviser and its affiliates provide supervision, management or servicing of assets with a commitment to consistently delivering exceptional service. The Investment Adviser is a subsidiary of Guggenheim Partners, LLC, a global, diversified financial services firm with more than $170 billion in assets under supervision as of December 31, 2012. Guggenheim Partners, LLC, through its affiliates, provides investment management, investment advisory, insurance, investment banking, and capital markets services. The firm is headquartered in Chicago and New York with a global network of offices throughout the United States, Europe, and Asia.

Portfolio Management
The portfolio manager who is currently responsible for the day-to-day management of each Funds’ portfolio is Saroj Kanuri, CFA. Mr. Kanuri is a Director, ETF Portfolio Management, of the Investment Adviser and Guggenheim Funds Distributors, LLC and joined Guggenheim Fund Distributors, LLC in October of 2006. Prior to joining Guggenheim, Mr. Kanuri served as an analyst at Northern Trust Corporation from 2001-2006. Mr. Kanuri received a B.S. in Finance from the University of Illinois at Chicago.

Guggenheim Partners Investment Management, LLC (“GPIM”), a subsidiary of Guggenheim Partners, LLC, serves as investment sub-adviser to each of the Wilshire 4500 Completion ETF and Wilshire 5000 Total Market ETF pursuant to a sub-advisory agreement with the Investment Adviser. GPIM assists the Investment Adviser with portfolio optimization for each of the Fund’s that GPIM serves as investment sub-adviser.


Claymore Exchange-Traded Fund Trust Overview
The Claymore Exchange-Traded Fund Trust (the “Trust”) is an investment company complex currently consisting of 28 separate exchange-traded “index funds” as of February 28, 2013.

This material must be preceded or accompanied by a prospectus for the fund being offered. The prospectus contains information about the fund including a discussion of investment objectives, risks, ongoing expenses and sales charges. If a prospectus did not accompany this report, you can obtain one from your financial adviser, from our website at http://www.guggenheiminvestments.com or by calling (800) 345-7999. Please read the prospectus carefully before investing. The Statement of Additional Information that includes additional information about the Trustees is also available, without charge, upon request via our website at http://www.guggenheiminvestments.com or by calling (800) 345-7999. All funds are subject to market risk and shares when sold may be worth more or less than their original cost. You can lose money investing in the funds.

 

Guggenheim Funds Distributors, LLC
2455 Corporate West Drive
Lisle, IL 60532
Member FINRA/SIPC
(03/13)

ETF-001-SAR-0213

NOT FDIC-INSURED | NOT BANK-GUARANTEED | MAY LOSE VALUE
 
 
 
 
 
Item 2.  Code of Ethics.
 
Not applicable for a semi-annual reporting period.
 
Item 3.  Audit Committee Financial Expert.
 
Not applicable for a semi-annual reporting period.
 
Item 4.  Principal Accountant Fees and Services.
 
Not applicable for a semi-annual reporting period.
 
Item 5.  Audit Committee of Listed Registrants.
 
Not applicable for a semi-annual reporting period.
 
Item 6.  Schedule of Investments.
 
The Schedule of Investments is included as part of Item 1.
 
Item 7.  Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.
 
Not Applicable.
 
Item 8.  Portfolio Managers of Closed-End Management Investment Companies.
 
Not Applicable.
 
Item 9.  Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.
 
Not Applicable.
 
Item 10.  Submission of Matters to a Vote of Security Holders.
 
The registrant has not made any material changes to the procedures by which shareholders may recommend nominees to the registrant’s Board of Trustees.
 
Item 11.  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) as of a date within 90 days of this filing and have concluded  based on such evaluation as required by Rule 30a-3(b) under the Investment Company Act, 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-CSR was recorded, processed, summarized, and reported within the time periods specified in the Securities and Exchange Commission’s rules and forms.
 
 
 
 
 
(b) There were no changes in the registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act) that occurred during the registrant’s second fiscal quarter of the period covered by this report that have materially affected, or are reasonably likely to materially affect, the registrant’s internal control over financial reporting.
 
Item 12.  Exhibits.
 
(a)(1)  Not applicable.
 
(a)(2)  Certifications of principal executive officer and principal financial officer pursuant to Rule 30a-2(a) under the Investment Company Act.
 
(a)(3)   Not applicable.
 
(b)       Certifications of principal executive officer and principal financial officer pursuant to Rule 30a-2(b) under the Investment Company Act and Section 906 of the Sarbanes-Oxley Act of 2002. 

 
 
 
 
 
SIGNATURES
 

 
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
 
(Registrant) Claymore Exchange-Traded Fund Trust
 
By:              /s/ Donald C. Cacciapaglia                   
 
Name:         Donald C. Cacciapaglia
 
Title:           Chief Executive Officer
 
Date:           May 8, 2013  
 
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
 
By:              /s/ Donald C. Cacciapaglia                   
 
Name:         Donald C. Cacciapaglia
 
Title:           Chief Executive Officer
 
Date:           May 8, 2013  
 
By:              /s/ John L. Sullivan                               
 
Name:          John L. Sullivan
 
Title:           Chief Financial Officer, Chief Accounting Officer and Treasurer
 
Date:           May 8, 2013