UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED

MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number: 811-03752

THE MANAGERS FUNDS

(Exact name of registrant as specified in charter)

800 Connecticut Avenue, Norwalk, Connecticut 06854

(Address of principal executive offices) (Zip code)

Managers Investment Group LLC

800 Connecticut Avenue, Norwalk, Connecticut 06854

(Name and address of agent for service)

Registrant’s telephone number, including area code: (203) 299-3500

Date of fiscal year end: December 31^st

Date of reporting period: MARCH 31, 2011        (1^st Quarter End Portfolio Holdings)

Item 1. SCHEDULE OF INVESTMENTS.

Managers Special Equity Fund

Schedule of Portfolio Investments

March 31, 2011 (unaudited)

Security Description	Shares			Value
Common Stocks - 96.2%
Consumer Discretionary - 18.3%
America’s Car-Mart, Inc.*		64,750		$	1,669,255
AnnTaylor Stores Corp.*		42,762	2		1,244,802
Biglari Holdings, Inc.*		1,117			473,105
BJ’s Restaurants, Inc.*		56,077			2,205,508
Bravo Brio Restaurant Group, Inc.*		56,648			1,002,103
Bridgepoint Education, Inc.*		7,620	2		130,302
Brunswick Corp.		10,169			258,598
Buckle, Inc., The		16,130	2		651,652
Carter’s, Inc.*		1,698			48,614
Cato Corporation, The, Class A		21,330			522,585
Cheesecake Factory, Inc., The*		16,290			490,166
Children’s Place Retail Stores, Inc., The*		6,926			345,123
Chipotle Mexican Grill, Inc.*		3,071			836,448
Coinstar, Inc.*		34,099	2		1,565,826
Collective Brands, Inc.*		28,085			606,074
Crocs, Inc.*		51,245			914,211
Dana Holding Corp.*		31,920			555,089
Deckers Outdoor Corp.*		25,502			2,196,997
Dick’s Sporting Goods, Inc.*		32,701			1,307,386
DSW, Inc.*		13,307	2		531,748
Eastman Kodak Co.*		61,012	2		197,069
E-Commerce China Dangdang, Inc., Sponsored ADR*		14,336	2		295,752
Express, Inc.*		13,521			264,200
Fossil, Inc.*		27,404			2,566,385
G-III Apparel Group, Ltd.*		61,064			2,294,785
Global Sources, Ltd.*		32,770			381,115
Group 1 Automotive, Inc.*		30,860			1,320,808
Hibbett Sports, Inc.*		15,979			572,208
HSN, Inc.*		13,141			420,906
IMAX Corp.*		37,448			1,197,587
iRobot Corp.*		29,683			976,274
Jos. A. Bank Clothiers, Inc.*		22,180			1,128,518
K12, Inc.*		23,194			781,638
Lululemon Athletica, Inc.*		14,427	2		1,284,724
Lumber Liquidators Holdings, Inc.*		7,322			182,977
Maidenform Brands, Inc.*		5,970			170,563
Oxford Industries, Inc.		73,150	2		2,500,998
P.F. Chang’s China Bistro, Inc.		31,000			1,431,890
Panera Bread Co., Class A*		16,410			2,084,070
Penske Automotive Group, Inc.*		27,851			557,577

Managers Special Equity Fund

Schedule of Portfolio Investments (continued)

Security Description	Shares			Value
Consumer Discretionary - 18.3% (continued)
Pier 1 Imports, Inc.*		33,450		$	339,518
Polaris Industries, Inc.		18,578			1,616,658
Sally Beauty Holdings, Inc.*		52,449			734,810
Select Comfort Corp.*		66,570			802,834
Shutterfly, Inc.*		9,975			522,291
Sotheby’s		29,825			1,568,795
Steven Madden, Ltd.*		85,987			4,035,370
Tempur-Pedic International, Inc.*		48,753			2,469,827
Tenneco Automotive, Inc.*		26,061			1,106,289
Texas Roadhouse, Inc., Class A*		136,900			2,325,931
Timberland Co.*		48,183			1,989,476
Tractor Supply Co.		21,118			1,264,123
Tupperware Brands Corp.		16,830			1,004,919
Ulta Salon, Cosmetics & Fragrance, Inc.*		30,013			1,444,526
Under Armour, Inc., Class A*		12,806			871,448
Warnaco Group, Inc., The*		10,420			595,920
Wolverine World Wide, Inc.		52,920			1,972,858
Zumiez, Inc.*		27,027			714,324
Total Consumer Discretionary					63,545,553
Consumer Staples - 2.1%
B&G Foods, Inc.		31,776			596,436
Boston Beer Co., Inc.*		9,513			881,094
Casey’s General Stores, Inc.		13,342			520,338
Nu Skin Enterprises, Inc., Class A		38,887			1,118,001
Revlon, Inc., Class A*		45,100			715,737
TreeHouse Foods, Inc.*		59,300			3,372,391
Total Consumer Staples					7,203,997
Energy - 5.7%
Approach Resources, Inc.*		98,219			3,300,158
Brigham Exploration Co.*		30,557			1,136,109
CARBO Ceramics, Inc.		11,632			1,641,508
Clayton Williams Energy, Inc.*		8,684			917,899
ION Geophysical Corp.*		101,314			1,285,675
Kodiak Oil & Gas Corp.*		85,397			572,160
Oasis Petroleum, Inc.*		27,286			862,783
OYO Geospace Corp.*		7,960			784,697
Rosetta Resources, Inc.*		88,591			4,211,616
RPC, Inc.		70,123	2		1,775,514
Superior Energy Services, Inc.*		56,140			2,301,740
W&T Offshore, Inc.		35,250	2		803,348
Total Energy					19,593,207

Managers Special Equity Fund

Schedule of Portfolio Investments (continued)

Security Description	Shares			Value
Financials - 8.8%
Altisource Portfolio Solutions S.A.*		19,987		$	613,201
Calamos Asset Management, Inc., Class A		63,848			1,059,238
Cohen & Steers, Inc.		18,766	2		556,975
Credit Acceptance Corp.*		4,913			348,626
Dollar Financial Corp.*		2,591			53,763
eSpeed, Inc., Class A		12,630			117,333
Financial Engines, Inc.*		70,443			1,941,409
GAMCO Investors, Inc., Class A		6,299	2		292,022
Green Dot Corp., Class A*		9,067	2		389,065
Home Bancshares, Inc.		80,620			1,834,105
Horace Mann Educators Corp.		17,590			295,512
MarketAxess Holdings, Inc.		91,180			2,206,556
Noah Holdings, Ltd., Sponsored ADR*		16,065	2		235,031
Portfolio Recovery Associates, Inc.*		13,019			1,108,307
PrivateBancorp, Inc.		151,220			2,312,154
Prosperity Bancshares, Inc.		95,410			4,080,686
Pzena Investment Management, Inc., Class A		14,860			104,912
Signature Bank*		88,645			4,999,578
Stifel Financial Corp.*		14,033			1,007,429
SVB Financial Group*		39,389			2,242,416
Texas Capital Bancshares, Inc.*		50,030			1,300,280
Washington Banking Co.		86,940	2		1,225,854
Western Alliance Bancorp*		86,765			713,208
World Acceptance Corp.*		23,264			1,516,813
Total Financials					30,554,473
Health Care - 15.5%
Acorda Therapeutics, Inc.*		10,666			247,451
Air Methods Corp.*		8,495			571,289
Align Technology, Inc.*		49,609			1,015,992
Amarin Corp. PLC, Sponsored ADR*		65,420			477,566
Amedisys, Inc.*		9,159			320,565
AMERIGROUP Corp.*		33,410			2,146,592
Analogic Corp.		4,180			236,379
Ariad Pharmaceuticals, Inc.*		36,014			270,825
Arqule, Inc.*		47,540			340,386
Array BioPharma, Inc.*		52,580			160,895
athenahealth, Inc.*		23,370			1,054,688
Auxilium Pharmaceuticals, Inc.*		14,458	2		310,413
BioMarin Pharmaceutical, Inc.*		8,627			216,797
Cantel Medical Corp.		16,130			415,348
Catalyst Health Solutions, Inc.*		70,201			3,926,342
Celera*		26,110			211,752

Managers Special Equity Fund

Schedule of Portfolio Investments (continued)

Security Description	Shares			Value
Health Care - 15.5% (continued)
Centene Corp.*		40,880		$	1,348,222
Cepheid*		59,699			1,672,766
Chemed Corp.		10,854			722,985
Computer Programs & Systems, Inc.		24,708			1,588,230
CorVel Corp.*		45,590			2,424,476
DexCom, Inc.*		57,352			890,103
Endologix, Inc.*		163,158			1,106,211
ePocrates, Inc.*		27,586			546,203
Geron Corp.*		41,310	2		208,616
HeartWare International, Inc.*		4,964	2		424,571
HMS Holdings Corp.*		31,760			2,599,556
Human Genome Sciences, Inc.*		23,428	2		643,099
ICU Medical, Inc.*		15,800			691,724
Idenix Pharmaceuticals, Inc.*		51,810			172,009
Impax Laboratories, Inc.*		82,095			2,089,318
Incyte Genomics, Inc.*		31,735	2		503,000
Inovio Pharmaceuticals, Inc.*		99,000	2		108,900
Insulet Corp.*		43,254			891,897
Integra LifeSciences Holdings Corp.*		10,382			492,314
InterMune, Inc.*		24,025			1,133,740
Invacare Corp.		2,034			63,298
IPC The Hospitalist Co., Inc.*		62,800			2,851,748
Ironwood Pharmaceuticals, Inc.*		16,130			225,820
Jazz Pharmaceuticals, Inc.*		12,701			404,527
Kensey Nash Corp.*		15,680			390,589
Lexicon Genetics, Inc.*		111,000			186,480
Masimo Corp.		30,779			1,018,785
Medicis Pharmaceutical Corp., Class A		46,635			1,494,185
Micromet, Inc.*		25,520			143,167
Nabi Biopharmaceuticals*		34,640			201,258
National Research		5,710			193,797
Neurocrine Biosciences, Inc.*		29,100			220,869
NxStage Medical, Inc.*		23,755			522,135
Onyx Pharmaceuticals, Inc.*		16,753			589,371
Pacific Biosciences of California, Inc.*		19,932	2		280,045
Palomar Medical Technologies, Inc.*		4,827			71,681
Providence Service Corp.*		21,160			316,977
Quality Systems, Inc.		24,340	2		2,028,496
Sirona Dental Systems, Inc.*		23,107			1,159,047
SXC Health Solutions Corp.*		118,693			6,504,376
Targacept, Inc.*		4,300			114,337
U.S. Physical Therapy, Inc.*		13,650	2		304,941

Managers Special Equity Fund

Schedule of Portfolio Investments (continued)

Security Description	Shares			Value
Health Care - 15.5% (continued)
Vanda Pharmaceuticals, Inc.*		19,210		$	140,041
Volcano Corp.*		8,151			208,666
Zalicus, Inc.*		72,700	2		175,934
Zoll Medical Corp.*		39,600			1,774,476
Total Health Care					53,766,266
Industrials - 14.5%
Acacia Research Corp.*		92,990			3,182,118
Actuant Corp., Class A		46,228			1,340,612
American Science & Engineering, Inc.		5,010			462,724
Applied Industrial Technologies, Inc.		25,476			847,332
BE Aerospace, Inc.*		81,310	2		2,888,944
Belden CDT, Inc.		10,689			401,372
Brink’s Co., The		3,700			122,507
Chart Industries, Inc.*		61,945			3,409,453
Clean Harbors, Inc.*		12,068			1,190,629
Consolidated Graphics, Inc.*		2,100			114,723
Corporate Executive Board Co.		606			24,464
Cubic Corp.		27,156			1,561,470
Deluxe Corp.		38,069			1,010,351
EMCOR Group, Inc.*		8,780			271,917
EnerSys*		101,530			4,035,818
Forward Air Corp.		7,497			229,633
Genesee & Wyoming, Inc., Class A*		19,387			1,128,323
Graham Corp.		19,120			457,733
Great Lakes Dredge & Dock Corp.		67,590			515,712
HEICO Corp.		14,262	2		891,660
Herman Miller, Inc.		15,539			427,167
Hexcel Corp.*		35,429			697,597
Higher One Holdings, Inc.*		29,715			429,382
HNI Corp.		10,263			323,900
Hub Group, Inc.*		49,690			1,798,281
Interface, Inc., Class A		25,241			466,706
Kaydon Corp.		15,960			625,472
Kforce, Inc.*		34,220			626,226
Knoll, Inc.		26,997			565,857
Lindsay Corp.		11,897			940,101
Middleby Corp., The*		12,454			1,160,962
NACCO Industries, Inc., Class A		5,871			649,744
Nordson Corp.		19,518			2,245,741
Old Dominion Freight Line, Inc.*		11,902			417,641
Park-Ohio Holdings Corp.*		17,660			364,856
Polypore International, Inc.*		55,035			3,168,915

Managers Special Equity Fund

Schedule of Portfolio Investments (continued)

Security Description	Shares			Value
Industrials - 14.5% (continued)
Quanex Building Products Corp.		7,955		$	156,157
RBC Bearings, Inc.*		18,226			696,780
Robbins & Myers, Inc.		14,889			684,745
Sauer-Danfoss, Inc.*		2,965			151,007
Team, Inc.*		14,580			382,871
Textainer Group Holdings, Ltd.		21,996			817,371
Triumph Group, Inc.		38,260			3,384,097
Twin Disc, Inc.		19,720			635,378
United Rentals, Inc.*		4,556			151,624
UTI Worldwide, Inc.		64,010			1,295,562
Wabtec Corp.		35,430			2,403,217
Westport Innovations, Inc.*		26,632			585,371
Total Industrials					50,340,223
Information Technology - 26.1%
ACI Worldwide, Inc.*		9,700			318,160
Acme Packet, Inc.*		27,826			1,974,533
ADTRAN, Inc.		26,663			1,132,111
Allot Communications, Ltd.*		159,783			2,502,202
Amkor Technology, Inc.*		21,442			144,519
Ancestry.com, Inc.*		29,104			1,031,737
Anixter International, Inc.		19,803			1,384,032
Applied Micro Circuits Corp.*		10,005			103,852
Ariba, Inc.*		89,167			3,044,161
Aruba Networks, Inc.*		106,944			3,618,985
Axcelis Technologies, Inc.*		214,730			569,034
CACI International, Inc., Class A*		18,234			1,118,109
Cavium Networks, Inc.*		37,862			1,701,140
Ceva, Inc.*		27,280			729,194
ChinaCache International Holdings, Ltd., Sponsored ADR*		11,203	2		204,231
Ciena Corp.*		17,464	2		453,365
Cognex Corp.		39,407			1,113,248
Coherent, Inc.*		17,446			1,013,787
Concur Technologies, Inc.*		12,234			678,375
Constant Contact, Inc.*		33,550			1,170,895
Cornerstone OnDemand, Inc.*		4,632			84,441
CSG Systems International, Inc.*		24,490			488,331
Diodes, Inc.*		26,935			917,406
FARO Technologies, Inc.*		28,324			1,132,960
Fortinet, Inc.*		58,396			2,569,424
GT Solar International, Inc.*		51,018	2		543,852
hiSoft Technology International, Sponsored ADR*		17,779			333,001
Hollysys Automation Technologies, Ltd.*		13,907			184,963

Managers Special Equity Fund

Schedule of Portfolio Investments (continued)

Security Description	Shares			Value
Information Technology - 26.1% (continued)
Informatica Corp.*		26,090		$	1,362,681
Inphi Corp.*		28,543			599,688
InterDigital, Inc.		38,650	2		1,843,992
IntraLinks Holdings, Inc.*		37,711			1,008,392
IPG Photonics Corp.*		61,719			3,559,951
Ixia*		85,460			1,357,105
J2 Global Communications, Inc.*		7,585			223,833
Jack Henry & Associates, Inc.		17,720			600,531
Lattice Semiconductor Corp.*		126,400			745,760
Littelfuse, Inc.		8,099			462,453
Manhattan Associates, Inc.*		31,603			1,034,050
Mattson Technology, Inc.*		107,620	2		262,593
MAXIMUS, Inc.		40,120			3,256,540
Maxwell Technologies, Inc.*		41,059			709,089
MercadoLibre, Inc.*		7,000			571,410
Monotype Imaging Holdings, Inc.*		12,200			176,900
Motricity, Inc.*		159,520	2		2,397,586
NeoPhotonics Corp.*		17,016			192,451
Net 1 UEPS Technologies, Inc.*		25,430			218,698
NetLogic Microsystems, Inc.*		31,318			1,315,982
NetSuite, Inc.*		33,499			974,151
Newport Corp.*		44,697			796,948
OpenTable, Inc.*		16,360			1,739,886
OPNET Technologies, Inc.		24,940			972,411
OSI Systems, Inc.*		15,200			570,456
Plantronics, Inc.		28,006			1,025,580
Rackspace Hosting, Inc.*		18,294			783,898
Renaissance Learning, Inc.		22,880			268,840
RF Micro Devices, Inc.*		67,860			434,983
RightNow Technologies, Inc.*		41,010			1,283,613
Riverbed Technology, Inc.*		51,455			1,937,281
Rofin-Sinar Technologies, Inc.*		17,664			697,728
SAVVIS, Inc.*		12,339			457,654
SemiLEDs Corp.*		5,164	2		81,281
ServiceSource International LLC*		3,800			46,284
Silicon Image, Inc.*		12,583			112,870
Sourcefire, Inc.*		121,786	2		3,350,333
SS&C Technologies Holdings, Inc.*		33,697			688,093
STEC, Inc.*		31,831			639,485
SuccessFactors, Inc.*		31,343			1,225,198
Synchronoss Technologies, Inc.*		112,284	2		3,901,868
Taleo Corp.*		37,920			1,351,848

Managers Special Equity Fund

Schedule of Portfolio Investments (continued)

Security Description	Shares			Value
Information Technology - 26.1% (continued)
TIBCO Software, Inc.*		129,275		$	3,522,744
Travelzoo, Inc.*		6,494	2		432,435
Trident Microsystems, Inc.*		160,620	2		184,713
Trina Solar ADR*		24,486			737,518
Unisys Corp.*		47,843			1,493,658
Universal Display Corp.*		6,930			381,427
ValueClick, Inc.*		42,961			621,216
VanceInfo Technologies, Inc., Sponsored ADR*		7,053			221,535
Velti PLC*		6,900			86,871
VeriFone Holdings, Inc.*		73,571			4,042,726
Volterra Semiconductor Corp.*		69,119			1,716,225
Websense, Inc.*		23,801			546,709
Wright Express Corp.*		20,771			1,076,769
Total Information Technology					90,564,968
Materials - 5.0%
Globe Specialty Metals, Inc.		43,115			981,297
Koppers Holdings, Inc.		14,146	2		604,034
Kraton Performance Polymers, Inc.*		78,682			3,009,587
LSB Industries, Inc.*		16,238			643,674
Materion Corp.*		20,653			842,642
Minerals Technologies, Inc.		9,980			683,830
NewMarket Corp.		3,756	2		594,274
PolyOne, Corp.*		55,987			795,575
Rock-Tenn Co., Class A		13,277	2		920,760
Rockwood Holdings, Inc.*		61,356			3,019,943
Silgan Holdings, Inc.		18,244			695,826
Solutia, Inc.*		55,308			1,404,823
STR Holdings, Inc.*		17,995	2		345,144
TPC Group, Inc.*		96,890			2,797,215
Total Materials					17,338,624
Telecommunication Services - 0.2%
Consolidated Communications Holdings, Inc.		21,330			399,510
Vonage Holdings Corp.*		51,810			236,254
Total Telecommunication Services					635,764
Total Common Stocks (cost $245,677,570)					333,543,075
Short-Term Investments - 7.6%1
BNY Institutional Cash Reserves Fund, Series B* 7,12		2,499,558			1,995,843
BNY Mellon Overnight Government Fund, 0.17%7		13,305,000			13,305,000
Dreyfus Cash Management Fund, Institutional Class Shares, 0.11%		11,222,155			11,222,155
Total Short-Term Investments (cost $27,026,713)					26,522,998
Total Investments - 103.8% (cost $272,704,283)					360,066,073
Other Assets, less Liabilities - (3.8)%					(13,195,140	)
Net Assets - 100.0%				$	346,870,933

Managers International Equity Fund

Schedule of Portfolio Investments

March 31, 2011 (unaudited)

Security Description	Shares			Value
Common Stocks - 94.7%
Consumer Discretionary - 12.6%
adidas-Salomon AG (Germany)		6,975		$	438,529
Bridgestone Corp. (Japan)		41,000			857,344
Compass Group PLC (United Kingdom)		73,301			658,895
Cyrela Brazil Realty, S.A. (Brazil)		24,500			231,847
Daimler AG (Germany)		9,557	2		673,407
Esprit Holdings, Ltd. (Hong Kong)		61,647			282,652
GKN PLC (United Kingdom)		102,900			330,788
Lagardere (France)		3,800			162,061
LG Electronics, Inc. (South Korea)		3,370			322,245
Magna International, Inc. (Canada)		7,100			340,390
New World Department Store China, Ltd. (Hong Kong)		17,000			11,870
Nissan Motor Co., Ltd. (Japan)		76,600			680,440
Panasonic Corp. (Japan)		31,300	2		396,498
Parkson Retail Group, Ltd. (China)		33,500	2		46,021
Pearson PLC (United Kingdom)		50,222			887,240
Persimmon PLC (United Kingdom)		53,240			379,548
Renault SA (France)*		11,000			607,823
Sekisui House, Ltd. (Japan)		46,000			429,280
SES SA (Luxembourg)		26,739			688,439
Sharp Corp. (Japan)		56,000	2		555,524
SJM Holdings, Ltd. (Hong Kong)		276,000			482,920
Sony Corp. (Japan)		23,700			755,936
Sumitomo Rubber Industries, Ltd. (Japan)		8,000			81,440
Suzuki Motor Co., Ltd. (Japan)		18,100			404,546
Toyota Motor Corp. (Japan)		17,200			682,570
Vivendi Universal SA (France)		44,977			1,283,070
Total Consumer Discretionary					12,671,323
Consumer Staples - 6.6%
British American Tobacco PLC (United Kingdom)		9,071			363,728
Delhaize Group (Belgium)		7,000			570,264
Groupe Danone SA (France)		6,471			422,322
Heineken N.V. (Netherlands)		11,442			624,805
Henkel AG & Co., KGaA (Germany)		7,052			436,492
Imperial Tobacco Group PLC (United Kingdom)		22,600			697,358
Japan Tobacco, Inc. (Japan)		216			780,923
Kirin Brewery Co., Ltd. (Japan)		44,000			577,428
Metro AG (Germany)		3,448			234,846
Nestle SA, Registered (Switzerland)		3,433			196,591
SABMiller PLC (United Kingdom)		12,022			425,448
Seven & i Holdings Co., Ltd. (Japan)		13,700			348,988

Managers International Equity Fund

Schedule of Portfolio Investments (continued)

Security Description	Shares			Value
Consumer Staples - 6.6% (continued)
Tate & Lyle PLC (United Kingdom)		39,178		$	362,659
Tingyi Cayman Islands Holding Corp. (China)		10,000			24,444
Unilever PLC (United Kingdom)		12,900			392,997
Uni-President Enterprises Corp. (Taiwan)		142,706			195,438
Total Consumer Staples					6,654,731
Energy - 9.8%
Cairn Energy PLC (United Kingdom)*		54,140			401,147
Canadian Natural Resources, Ltd. (Canada)		12,600			623,047
Cenovus Energy, Inc. (Canada)		14,268			563,656
China Shenhua Energy Co., Ltd. (China)		121,500			571,872
EnCana Corp. (Canada)		7,468	2		258,280
Gazprom OAO, Sponsored ADR (Russia)		38,921			1,259,903
INPEX Corp. (Japan)		80			605,248
Lukoil OAO, Sponsored ADR (Russia)		3,688			264,048
Nexen, Inc. (Canada)		27,301			680,624
Petrofac, Ltd. (United Kingdom)		26,791			640,207
Petroleo Brasileiro, S.A., Sponsored ADR (Brazil)		7,200			291,096
Royal Dutch Shell PLC, Class A (Netherlands)		25,484			927,060
Royal Dutch Shell PLC, Class B (Netherlands)		27,506			998,861
Straits Asia Resources, Ltd. (Singapore)		150,000			298,339
Suncor Energy, Inc. (Canada)		12,400			556,113
Technip-Coflexip, ADR (France)		5,080			541,617
Woodside Petroleum, Ltd. (Australia)		6,800			329,206
Total Energy					9,810,324
Financials - 24.9%
Aegon N.V. (Netherlands)		57,000			426,805
AIA Group, Ltd. (Hong Kong)*		111,800			344,151
Allianz SE (Germany)		6,400			896,160
Banco do Brasil, S.A. (Brazil)		45,200			815,326
Banco Santander, S.A. (Brazil)		23,800			290,676
Bank of East Asia, Ltd. (Hong Kong)		33,490			142,110
Bank of Yokohama, Ltd., The (Japan)		89,000			423,052
Barclays PLC (United Kingdom)		143,461			644,138
BNP Paribas SA (France)		13,359			976,601
CapitaLand, Ltd. (Singapore)		132,500			346,865
CapitaMalls Asia, Ltd. (Singapore)		76,000			107,302
Cathay Financial Holding Co., Ltd. (Taiwan)		125,415			206,824
China Life Insurance Co., Ltd. (China)		38,000			142,007
China Minsheng Banking Corp., Ltd. (China)		30,100			27,670
China Overseas Land & Investment, Ltd. (Hong Kong)		370,189	2		752,549
Chinatrust Financial Holding Co., Ltd. (Taiwan)		243,007			206,280
Chuo Mitsui Trust Holdings, Inc. (Japan)		35,760			126,685

Managers International Equity Fund

Schedule of Portfolio Investments (continued)

Security Description	Shares		Value
Financials - 24.9% (continued)
Credit Suisse Group AG (Switzerland)		15,037	$	637,873
Dai-ichi Mutual Life Insurance Co., The (Japan)		424		639,413
Daiwa House Industry Co., Ltd. (Japan)		20,000		244,655
Daiwa Securities Group, Inc. (Japan)		18,000		82,671
Danske Bank A/S (Denmark)		3,400		75,157
DBS Group Holdings, Ltd. (Singapore)		37,500		435,372
Deutsche Boerse AG (Germany)		3,061		231,732
DnB Holding ASA (Norway)		35,600		545,847
Evergrande Real Estate Group, Ltd. (China)		345,000		189,356
Hana Financial Group, Inc. (South Korea)		7,000		302,276
Hang Lung Group, Ltd. (Hong Kong)		5,900		36,566
Hang Lung Properties, Ltd. (Hong Kong)		30,000		131,579
HDFC Bank, Ltd. (India)		9,795		515,417
Henderson Land Development Co., Ltd. (Hong Kong)		67,000		464,278
Hong Kong Exchanges and Clearing, Ltd. (Hong Kong)		39,600		859,255
HSBC Holdings PLC (United Kingdom)		91,866		948,900
Industrial and Commercial Bank of China, Ltd., Class H (China)		228,915		189,786
ING Groep N.V. (Netherlands)*		129,025		1,637,811
Itau Unibanco Holding, S.A. (Brazil)		17,763		421,703
KB Financial Group, Inc. (South Korea)		6,725		351,787
KBC Bank & Insurance Group, Inc. (Belgium)		10,400		391,330
Mitsubishi Estate Co., Ltd. (Japan)		38,000		642,164
Mitsubishi Tokyo Financial Group, Inc. (Japan)		189,500		873,152
Mitsui Fudosan Co., Ltd. (Japan)		14,000		230,138
Muenchener Rueckversicherungs AG (Germany)		1,700		267,424
National Australia Bank, Ltd. (Australia)		36,300		970,206
Nomura Holdings, Inc. (Japan)		45,300		234,155
Oversea-Chinese Banking Corp., Ltd. (Singapore)		72,000		547,194
Prudential PLC (United Kingdom)		103,321		1,170,084
Societe Generale (France)		14,073		914,098
Standard Chartered PLC (United Kingdom)		17,735		460,029
Sumitomo Mitsui Financial Group, Inc. (Japan)		11,300		350,586
Sumitomo Realty & Development Co., Ltd. (Japan)		12,000		239,956
Sun Hung Kai Properties, Ltd. (Hong Kong)		29,000		459,245
Swiss Reinsurance (Switzerland)		2,800		159,564
T&D Holdings, Inc. (Japan)		6,100		150,294
Turkiye Is Bankasi A.S. (Isbank) (Turkey)		37,900		120,995
UniCredito Italiano S.p.A. (Italy)		215,275		530,618
Zurich Financial Services AG (Switzerland)		1,372		383,525
Total Financials				24,911,392

Managers International Equity Fund

Schedule of Portfolio Investments (continued)

Security Description	Shares			Value
Health Care - 5.8%
Actelion, Ltd. (Switzerland)*		7,231		$	415,796
AstraZeneca PLC (United Kingdom)		26,900			1,235,864
Fresenius Medical Care AG (Germany)		5,848			392,325
GlaxoSmithKline PLC (United Kingdom)		12,399			236,260
Lonza Group AG (Switzerland)		1,822			152,545
Mindray Medical International, Ltd., Sponsored ADR (China)		11,200	2		282,240
Novartis AG (Switzerland)		22,608			1,224,246
Roche Holding AG (Switzerland)		3,000			428,296
Sanofi-Aventis SA (France)		17,592			1,232,747
Teva Pharmaceutical Industries, Ltd., Sponsored ADR (Israel)		4,800			240,816
Total Health Care					5,841,135
Industrials - 10.2%
ABB, Ltd. (Switzerland)		35,257			846,625
ABB, Ltd., ADR (Switzerland)*		25,030			604,351
Asahi Glass Co., Ltd. (Japan)		40,000			503,254
BAE Systems PLC (United Kingdom)		93,000			484,681
Bouygues (France)		19,700			945,641
FANUC, Ltd. (Japan)		3,400			513,934
Far Eastern New Century Corp. (Taiwan)		132,318			204,419
HOCHTIEF AG (Germany)		1,900			204,074
Kajima Corp. (Japan)		29,000			81,080
Koninklijke (Royal) Phillips Electronics N.V. (Netherlands)		19,213	2		615,446
Leighton Holdings, Ltd. (Australia)		16,950	2		516,801
Mitsubishi Corp. (Japan)		12,100			335,514
Mitsubishi Heavy Industries., Ltd. (Japan)		66,700			306,471
Mitsui & Co., Ltd. (Japan)		37,200	2		666,024
Schneider Electric SA (France)		3,964			677,015
Shimizu Corp. (Japan)		23,000	2		102,003
Siemens AG (Germany)		11,474			1,569,505
Sumitomo Electric Industries, Ltd. (Japan)		41,000			567,815
Tostem Inax Holding Corp. (Japan)		9,400			243,778
Yamato Transport Co., Ltd. (Japan)		12,100			187,592
Total Industrials					10,176,023
Information Technology - 5.7%
AIXTRON AG (Germany)		13,664	2		599,062
AU Optronics Corp., Sponsored ADR (Taiwan)		46,453			407,857
Autonomy Corp. PLC (United Kingdom)*		7,947			202,511
Cap Gemini SA (France)		9,161			531,914
Companhia Brasileira de Meios de Pagamentos (Brazil)		10,800			91,684
Ericsson (LM), Class B (Sweden)		36,970			475,650
Fujitsu, Ltd. (Japan)		56,000			316,459
Gemalto N.V. (Netherlands)		11,517	2		567,038

Managers International Equity Fund

Schedule of Portfolio Investments (continued)

Security Description	Shares			Value
Information Technology - 5.7% (continued)
LG Display Co., Ltd. (South Korea)		6,700		$	209,986
Redecard, S.A. (Brazil)		12,900			189,235
Samsung Electronics Co., Ltd. (South Korea)		850			720,771
Samsung Electronics Co., Ltd., GDR (a) (South Korea)		1,191			505,834
SAP AG (Germany)		2,270			138,833
Sumco Corp. (Japan)*		2,200			44,243
Taiwan Semiconductor Manufacturing Co., Ltd., Sponsored ADR (Taiwan)		34,720			422,890
Toshiba Corp. (Japan)		51,000			249,370
Total Information Technology					5,673,337
Materials - 11.4%
Air Liquide SA (France)*		4,047			537,749
Barrick Gold Corp. (Canada)*		10,286			534,617
Gold Fields, Ltd. (South Africa)		22,363			390,169
Goldcorp, Inc. (Canada)		23,100			1,151,783
Harmony Gold Mining Co., Ltd. (South Africa)		26,786			395,007
Impala Platinum Holdings, Ltd. (South Africa)		6,300			181,125
Incitec Pivot, Ltd. (Australia)		138,572			620,341
JFE Holdings, Inc. (Japan)		14,100			412,842
Kinross Gold Corp. (Canada)		23,681			372,976
Koninklijke DSM N.V. (Netherlands)		7,246			445,510
Newcrest Mining, Ltd. (Australia)		11,376			468,628
Rhodia SA (France)		13,132			384,601
Rio Tinto PLC (United Kingdom)		17,200			1,216,018
Syngenta AG (Switzerland)		1,999			650,327
Taiwan Fertilizer Co., Ltd. (Taiwan)		67,900			199,697
Tata Steel, Ltd., Reg S, GDR (India)		26,100	2		359,909
ThyssenKrupp AG (Germany)		9,700			394,822
Toray Industries, Inc. (Japan)		55,700			404,341
Vale, S.A., ADR (Brazil)		26,500			782,280
Xstrata PLC (Switzerland)		51,027			1,190,547
Yamana Gold, Inc. (Canada)		29,259			361,550
Total Materials					11,454,839
Telecommunication Services - 5.3%
Bharti Tele-Ventures, Ltd. (India)		14,914			119,501
Nippon Telegraph & Telephone Corp. (Japan)		16,300			728,039
NTT DoCoMo, Inc. (Japan)		347			605,774
Telecom Italia S.p.A. (Italy)		351,300			539,877
Telecom Italia S.p.A., RSP (Italy)		349,200			469,083
Telefonica, S.A. (Spain)		30,091			754,820
Tim Participacoes S.A., ADR (Brazil)		15,100	2		659,115
Vodafone Group PLC (United Kingdom)		490,596			1,398,113
Total Telecommunication Services					5,274,322

Managers International Equity Fund

Schedule of Portfolio Investments (continued)

Security Description	Shares			Value
Utilities - 2.4%
E.ON AG (Germany)		27,600		$	839,288
Fortum Oyj (Finland)		11,098			376,791
Hong Kong and China Gas Co., Ltd., The (Hong Kong)		231,337			555,042
National Grid PLC (United Kingdom)		44,316			421,587
Tokyo Electric Power Company, Inc., The (Japan)		30,700			171,112
Total Utilities					2,363,820
Total Common Stocks (cost $85,320,527)					94,831,246
Other Equities - 0.9%
SPDR Gold Shares (United States)* (Cost $488,777)		6,100	2		852,902
Rights - 0.0%#
Danske Bank A/S (Denmark) (Cost $0)		3,399			6,568
Short-Term Investments - 10.3%1
BNY Institutional Cash Reserves Fund, Series B* 7,12		104,356			83,326
BNY Mellon Overnight Government Fund, 0.17%7		6,871,000			6,871,000
Dreyfus Cash Management Fund, Institutional Class Shares, 0.11%		3,420,440			3,420,440
Total Short-Term Investments (cost $10,395,796)					10,374,766
Total Investments - 105.9% (cost $96,205,100)					106,065,482
Other Assets, less Liabilities - (5.9)%					(5,874,564	)
Net Assets - 100.0%				$	100,190,918

Managers Emerging Markets Equity Fund

Schedule of Portfolio Investments

March 31, 2011 (unaudited)

Security Description	Shares		Value
Common Stocks - 95.8%
Consumer Discretionary - 10.4%
Belle International Holdings, Ltd. (Hong Kong)		324,000	$	594,265
Cheil Communications, Inc. (South Korea)		13,710		181,140
Corporation Geo, S.A.B. de C.V., Series B (Mexico)*		17,700		49,643
Ctrip.com International, Ltd. (China)*		9,100		377,559
Foschini, Ltd. (South Africa)		9,795		122,596
Genting Malaysia Berhad (Malaysia)		118,000		429,784
Golden Eagle Retail Group, Ltd. (China)		35,000		75,458
Grupo Televisa, S.A.B. (Mexico)		18,500		453,805
Hero Honda Motors, Ltd. (India)		9,569		341,391
Hyundai Department Store Co., Ltd. (South Korea)		1,469		190,038
Hyundai Mobis Co., Ltd. (South Korea)		744		221,823
Hyundai Motor Co., Ltd. (South Korea)		6,476		1,196,855
Imperial Holdings, Ltd. (South Africa)		3,401		57,327
LG Electronics, Inc. (South Korea)		4,344		415,380
Lojas Renner, S.A. (Brazil)		17,900		582,615
Naspers, Ltd. (South Africa)		1,745		93,867
Parkson Retail Group, Ltd. (China)		96,000		131,882
PDG Realty S.A. Empreendimentos e Participacoes (Brazil)		100,841		560,828
Turk Sise ve Cam Fabrikalari A.S. (Turkey)		109,376		246,988
Urbi Desarrollos Urbanos, S.A.B. de C.V. (Mexico)*		131,430		305,524
Total Consumer Discretionary				6,628,768
Consumer Staples - 2.7%
Anadolu Efes Biracilik ve Malt Sanayii A.S. (Turkey)		38,318		542,880
China Mengniu Dairy Co., Ltd. (Hong Kong)		29,000		76,796
Companhia Brasileira de Distribuicao Grupo Pao de Acucar (Brazil)		2,364		99,123
Companhia de Bebidas das Americas, PR ADR (Brazil)		3,500		99,085
Hengan International Group Co. (China)		56,500		418,975
LG Household & Health Care, Ltd. (South Korea)		582		218,326
Shoprite Holdings, Ltd. (South Africa)		8,556		131,090
Wal-Mart de Mexico S.A.B. de C.V. (Mexico)		39,300		117,955
Total Consumer Staples				1,704,230
Energy - 17.1%
Banpu PCL, NVDR (Thailand)		8,700		219,206
China Petroleum and Chemical Corp., Class H (China)		286,000		285,575
China Shenhua Energy Co., Ltd. (China)		86,000		404,782
China Suntien Green Energy Corp., Ltd. (China)*		143,000		46,165
CNOOC, Ltd. (Hong Kong)		310,790		785,373
Eurasia Drilling Co., Ltd., GDR (Cyprus)*		2,400		81,600
Gazprom OAO, ADR (Russia)		54,697		1,770,584
Lukoil OAO, Sponsored ADR (Russia)		13,694		980,443

Managers Emerging Markets Equity Fund

Schedule of Portfolio Investments (continued)

Security Description	Shares			Value
Energy - 17.1% (continued)
MOL Magyar Olaj-es Gazipari NyRt. (Hungary)		3,109		$	397,381
NovaTek OAO, Sponsored GDR (Russia)		1,050			145,781
OGX Petroleo e Gas Participacoes, S.A. (Brazil)*		35,300			423,129
Oil & Natural Gas Corp., Ltd. (India)		53,960			352,821
PetroChina Co., Ltd. (China)		168,000			255,559
Petroleo Brasileiro, S.A., ADR (Brazil)		15,662			556,627
Petroleo Brasileiro, S.A., Sponsored ADR (Brazil)		25,027	2		1,011,842
Polski Koncern Naftowy ORLEN SA (Poland)		8,041			149,098
PTT PCL, NVDR (Thailand)		46,700			547,102
QGEP Participacoes, S.A. (Brazil)*		24,900			353,220
Reliance Industries, Ltd. (India)		7,043			165,849
Rosneft Oil Co. OAO, GDR (Russia)		12,400			113,222
Rosneft Oil Co. OAO, GDR (a) (Russia)*		36,666			335,494
Sasol, Ltd. (South Africa)		4,047			234,151
SK Energy Co., Ltd. (South Korea)		1,591			305,820
Thai Oil PCL (Thailand)		76,700			211,364
Tupras Turkiye Petrol Rafine (Turkey)		17,280			506,997
Ultrapar Participacoes, S.A. (Brazil)		8,252			136,720
Ultrapar Participacoes, S.A., ADR (Brazil)		4,000			67,800
Total Energy					10,843,705
Financials - 23.9%
ABSA Group, Ltd. (South Africa)		23,223			467,921
Banco Bradesco, S.A. (Brazil)		37,921			786,861
Bangkok Bank PCL (Thailand)		46,000			263,605
Bank of China, Ltd., Class H (China)		834,800			464,222
Bank Of Communications (China)		95,000			104,453
BR Malls Participacoes, S.A. (Brazil)		13,700			141,225
BR Properties, S.A. (Brazil)		49,700			522,982
Cathay Financial Holding Co., Ltd. (Taiwan)		100,000			164,912
China Construction Bank Corp. (China)		1,324,659			1,240,125
China Overseas Land & Investment, Ltd. (Hong Kong)		76,000			154,499
Chinatrust Financial Holding Co., Ltd. (Taiwan)		592,850			503,250
Commercial International Bank (Egypt)		13,432			73,489
Credicorp, Ltd. (Peru)		880			92,338
Daegu Bank, Ltd., The (South Korea)		11,330			185,883
FirstRand, Ltd. (South Africa)		160,377			476,146
Franshion Properties China, Ltd. (Hong Kong)		498,000			143,368
Halyk Savings Bank of Kazakhstan, GDR (Kazakhstan)*		10,386			104,632
Hana Financial Group, Inc. (South Korea)		5,400			233,184
HDFC Bank, Ltd. (India)		5,315			279,677
Industrial and Commercial Bank of China, Ltd., Class H (China)		1,582,556			1,312,049
Infrastructure Development Finance Co., Ltd. (India)		129,879			449,781

Managers Emerging Markets Equity Fund

Schedule of Portfolio Investments (continued)

Security Description	Shares		Value
Financials - 23.9% (continued)
Itau Unibanco Holding, S.A. (Brazil)		9,796	$	232,562
Itau Unibanco Holding, S.A., ADR (Brazil)		40,254		968,108
Kasikornbank PCL, NVDR (Thailand)		98,000		411,270
OTP Bank NyRt. (Hungary)*		3,872		114,480
Ping An Insurance (Group) Co. of China, Ltd. (China)		99,383		1,006,210
PKO Bank Polski (Poland)		21,039		323,634
Poly (Hong Kong) Investments, Ltd. (Hong Kong)		214,000		200,290
Powszechny Zaklad Ubezpieczen SA (Poland)		1,172		146,889
PT Bank Mandiri (Indonesia)		401,906		313,698
Public Bank Berhad (Malaysia)		67,869		293,876
Public Bank Berhad, Foreign Market (Malaysia)		36,300		157,479
Samsung Fire & Marine Insurance Co., Ltd. (South Korea)		2,015		445,159
Shinhan Financial Group Co., Ltd. (South Korea)		18,443		837,180
Siam Commercial Bank PCL (Thailand)		114,300		407,999
Turkiye Garanti Bankasi A.S. (Turkey)		82,560		385,215
Turkiye Halk Bankasi A.S. (Turkey)		25,611		197,379
Turkiye Is Bankasi A.S. (Isbank) (Turkey)		46,195		147,477
Turkiye Sinai Kalkinma Bankasi (Turkey)		51,877		90,658
VTB Bank, GDR (Russia)		49,575		346,786
Total Financials				15,190,951
Industrials - 6.1%
Beijing Enterprises Holdings, Ltd. (Hong Kong)		22,000		125,452
Changsha Zoomlion Heavy Industry Science and Technology Development Co., Ltd. (China)		48,600		124,584
China Merchants Holdings International Co., Ltd. (Hong Kong)		52,000		219,319
China Shipping Development Co., Ltd. (China)		256,000		287,355
Companhia de Concessoes Rodoviarias (Brazil)		8,962		261,672
Copa Holdings, S.A., Class A (Panama)		7,800		411,840
COSCO Pacific, Ltd. (Hong Kong)		236,000		446,539
Far Eastern New Century Corp. (Taiwan)		102,340		158,106
Globaltrans Investment PLC, GDR (Russia)*		5,348		98,226
Glovis Co., Ltd. (South Korea)		661		93,884
GS Engineering & Construction Corp. (South Korea)		1,654		173,196
Hyundai Heavy Industries Co., Ltd. (South Korea)		342		161,277
Industries Qatar Q.S.C. (Qatar)		4,579		172,426
Iochpe-Maxion, S.A. (Brazil)		6,900		91,203
Larsen & Toubro, Ltd. (India)		9,070		336,005
Raubex Group, Ltd. (South Africa)		14,592		39,365
Samsung Heavy Industries Co., Ltd. (South Korea)		14,181		515,144
SM Investments Corp. (Philippines)		1		12
TAV Havalimanlari Holding A.S. (Turkey)*		31,548		150,592
Total Industrials				3,866,197

Managers Emerging Markets Equity Fund

Schedule of Portfolio Investments (continued)

Security Description	Shares			Value
Information Technology - 12.5%
Asustek Computer, Inc. (Taiwan)		25,650		$	221,875
Asustek Computer, Inc., GDR (Taiwan)		2			82
High Tech Computer Corp. (Taiwan)		6,000			234,359
Hon Hai Precision Industry Co., Ltd. (Taiwan)		233,724			817,797
Hon Hai Precision Industry Co., Ltd., ADR (Taiwan)		21			150
Hynix Semiconductor, Inc. (South Korea)		2,680			76,236
Infosys Technologies, Ltd. (India)		3,052			221,616
Infosys Technologies, Ltd., Sponsored ADR (India)		6,400			458,880
LG Display Co., Ltd. (South Korea)		12,240			383,616
Mail.Ru Group, Ltd., Reg S, GDR (Russia)		7,397			221,540
MediaTek, Inc. (Taiwan)		31,067			356,942
Samsung Electronics Co., Ltd. (South Korea)		2,496			2,116,522
Samsung Electronics Co., Ltd., GDR (a) (South Korea)		320			135,908
Siliconware Precision Industries Co. (Taiwan)		84,871			104,735
Siliconware Precision Industries Co., ADR (Taiwan)		46,100			278,444
Taiwan Semiconductor Manufacturing Co., Ltd. (Taiwan)		388,584			931,150
Taiwan Semiconductor Manufacturing Co., Ltd., Sponsored ADR (Taiwan)		33,700			410,466
Tencent Holdings, Ltd. (China)		7,200			175,342
Unimicron Technology Corp. (Taiwan)		244,000			414,832
WPG Holdings, Ltd. (Taiwan)		100,000			168,303
ZTE Corp., Class H (China)		46,600			216,267
Total Information Technology					7,945,062
Materials - 16.8%
African Rainbow Minerals, Ltd. (South Africa)		5,268			173,503
Anhui Conch Cement Co., Ltd. (China)		79,872			499,752
China National Building Materials Co., Ltd. (China)		54,000			197,933
China Steel Corp. (Taiwan)		181,484			216,942
Evraz Group, S.A., GDR (Luxembourg)*		7,873	2		312,703
Gerdau, S.A., Sponsored ADR (Brazil)		18,700			233,750
Gold Fields, Ltd. (South Africa)		12,111			211,302
Impala Platinum Holdings, Ltd. (South Africa)		24,669			712,764
KG Chemical Co., Ltd. (South Korea)		2,406			1,006,696
KGHM Polska Miedz SA (Poland)		1,350			85,632
LSR Group OJSC, GDR (Russia)*		18,200			174,446
Mechel OAO (Russia)		4,200			129,318
MMC Norilsk Nickel, ADR (Russia)		19,735			522,441
MMX Mineracao e Metalicos, S.A. (Brazil)*		66,600			417,716
Mongolian Mining Corp. (Mongolia)*		266,500			340,169
Nan Ya Plastics Corp. (Taiwan)		87,000			256,086
POSCO (South Korea)		1,466			672,636
Raspadskaya (Russia)*		50,441			338,964

Managers Emerging Markets Equity Fund

Schedule of Portfolio Investments (continued)

Security Description	Shares			Value
Materials - 16.8% (continued)
Severstal, GDR, Reg S (Russia)*		4,850		$	95,087
Southern Copper Corp. (United States)		2,600			104,702
Taiwan Cement Corp. (Taiwan)		235,216			283,889
Taiwan Fertilizer Co., Ltd. (Taiwan)		147,000			432,335
Tata Steel, Ltd. (India)		10,622			148,261
Tata Steel, Ltd., Reg S, GDR (India)		28,860	2		397,968
Ternium, S.A. (Luxembourg)*		11,600			416,904
Uralkaliy OAO (Russia)		12,815			532,568
Vale, S.A., ADR (Brazil)		19,199			566,754
Vale, S.A., Sponsored ADR (Brazil)		35,267			1,176,155
Total Materials					10,657,376
Telecommunication Services - 4.7%
America Movil, S.A.B. de C.V. (Mexico)		9,600			557,760
China Mobile, Ltd. (Hong Kong)		92,000			849,252
Chunghwa Telecom Co., Ltd., ADR (Taiwan)		4,720			147,075
KT Corp. (South Korea)		3,430			121,634
Mobile Telesystems, Sponsored ADR (Russia)		6,400			135,872
MTN Group, Ltd. (South Africa)		41,344			833,894
Turk Telekomunikasyon A.S. (Turkey)		42,668			214,135
Vivo Participacoes, S.A., ADR (Brazil)		3,311			133,698
Total Telecommunication Services					2,993,320
Utilities - 1.6%
Ceske Energeticke Zavody (Czech Republic)		2,634			134,724
China Gas Holdings, Ltd. (Hong Kong)		484,000			239,389
China Resources Power Holdings Co. (Hong Kong)		1,800			3,470
Companhia Energetica de Minas Gerais, Sponsored ADR (Brazil)		14,090			271,514
Perusahaan Gas Negara (Persero) Tbk PT (Indonesia)		849,500			380,036
Total Utilities					1,029,133
Total Common Stocks (cost $50,550,972)					60,858,742
Warrants - 1.1%
Sberbank of Russia, 11/30/12 (Luxembourg)*		6,584			24,361
Sberbank of Russia, 02/28/18 (United Kingdom)*		184,659			692,471
Total Warrants (cost $641,912)					716,832
Short-Term Investments - 4.8%1
BNY Institutional Cash Reserves Fund, Series B* 7,12		110,742			88,425
BNY Mellon Overnight Government Fund, 0.17%7		1,092,000			1,092,000
Dreyfus Cash Management Fund, Institutional Class Shares, 0.11%		1,864,028			1,864,028
Total Short-Term Investments (cost $3,066,770)					3,044,453
Total Investments - 101.7% (cost $54,259,654)					64,620,027
Other Assets, less Liabilities - (1.7)%					(1,064,308	)
Net Assets - 100.0%				$	63,555,719

Managers Bond Fund

Schedule of Portfolio Investments

March 31, 2011 (unaudited)

Security Description	Principal Amount†			Value
Corporate Bonds - 71.6%
Financials - 24.9%
Alta Wind Holdings LLC, 7.000%, 06/30/35 (a)	$	8,700,000		$	9,162,927
American General Finance Corp., 5.400%, 12/01/15		5,000,000	2		4,562,500
American International Group, Inc.,
MTN, Series G, 5.850%, 01/16/18		1,940,000			2,020,774
MTN, Series MP, 5.450%, 05/18/17		485,000	2		497,871
Bank of America Capital Trust VI, 5.625%, 03/08/35		3,085,000			2,692,128
BNP Paribas SA DN, 6.431%, 06/13/11 (a)4	IDR	19,645,500,000			2,227,054
Camden Property Trust, 5.700%, 05/15/17		5,205,000			5,697,669
Cantor Fitzgerald L.P.,
6.375%, 06/26/15 (a)		8,710,000			8,767,138
7.875%, 10/15/19 (a)11		10,805,000			11,227,097
CIT Group, Inc., 7.000%, 05/01/13		81,181			82,703
Citigroup, Inc.,
5.500%, 10/15/14		21,385,000			23,065,861
6.125%, 08/25/36		10,760,000	2		10,260,682
Colonial Realty, L.P., 4.800%, 04/01/11		1,005,000			1,005,000
Crown Castle Towers LLC, 6.113%, 01/15/20 (a)		13,725,000			14,875,882
Duke Realty, L.P.,
5.950%, 02/15/17		2,210,000			2,383,965
6.500%, 01/15/18		5,000,000			5,508,970
Equity One, Inc., 6.000%, 09/15/17		5,915,000			6,084,382
ERP Operating, L.P.,
5.125%, 03/15/16		600,000			644,315
5.750%, 06/15/17		1,450,000			1,596,436
Export-Import Bank of Korea, The, 8.300%, 03/15/14 (a)	IDR	1,400,000,000			162,469
First Industrial L.P., 5.950%, 05/15/17		15,000,000			14,140,320
GE Capital Australia Funding Pty., Ltd., Series EMTN, 8.000%, 02/13/12	AUD	3,965,000			4,183,951
GE Capital Corp., Series GMTN, 7.625%, 12/10/14	NZD	9,365,000			7,716,604
General Electric Captial Corp.,
2.960%, 05/18/12	SGD	4,400,000			3,546,403
3.485%, 03/08/12	SGD	16,500,000			13,301,526
6.500%, 09/28/15	NZD	15,265,000			12,123,097
6.750%, 09/26/16	NZD	6,390,000			5,067,247
GMAC, Inc., 8.000%, 11/01/31		1,427,000	2		1,555,430
Hanover Insurance Group, Inc., The, 7.500%, 03/01/20		6,475,000	2		6,882,737
Highwoods Realty, L.P.,
5.850%, 03/15/17		3,680,000			3,916,503
7.500%, 04/15/18		2,405,000			2,749,014
ICICI Bank, Ltd., 6.375%, 04/30/22 (a)9		900,000			895,500

Managers Bond Fund

Schedule of Portfolio Investments (continued)

Security Description	Principal Amount†			Value
Financials - 24.9% (continued)
iStar Financial, Inc.,
5.700%, 03/01/14	$	15,000	2	$	14,025
5.850%, 03/15/17		325,000			283,562
5.875%, 03/15/16		1,340,000	2		1,192,600
6.050%, 04/15/15		620,000			567,300
JPMorgan Chase & Co., 5.832%, 04/12/12 (a)4	IDR	40,733,437,680			4,408,895
Lloyds TSB Bank PLC, 6.500%, 09/14/20 (a)		17,940,000	2		17,636,922
Marsh & McLennan Companies, Inc.,
5.375%, 07/15/14		4,390,000			4,748,338
5.875%, 08/01/33		10,360,000			9,752,427
MBIA Insurance Corp., 14.000%, 01/15/33 (a)9		525,000			288,750
Merrill Lynch & Co., Inc.,
4.625%, 09/14/18	EUR	1,750,000			2,283,226
6.110%, 01/29/37		38,050,000			36,087,267
10.710%, 03/08/17	BRL	2,500,000			1,546,565
MTN, Series C, 6.050%, 06/01/34		22,100,000			20,318,519
Morgan Stanley,
4.750%, 04/01/14		10,715,000			11,165,201
5.500%, 07/24/20		28,600,000	2		28,579,894
6.625%, 04/01/18		3,095,000			3,401,764
GMTN, Series F, 5.625%, 09/23/19		6,700,000	2		6,842,944
Mutual of Omaha Insurance Co., 6.800%, 06/15/36 (a)		13,925,000			14,091,473
National City Bank of Indiana, 4.250%, 07/01/18		6,310,000			6,222,291
National City Corp., 6.875%, 05/15/19		1,905,000			2,174,742
National Life Insurance Co., 10.500%, 09/15/39 (a)		5,000,000			6,280,575
Old Republic International Corp., 3.750%, 03/15/1810		9,220,000			9,254,575
Penn Mutual Life Insurance Co., The, 7.625%, 06/15/40 (a)		8,885,000			9,605,600
PF Export Rec Master Trust, 6.436%, 06/01/15 (a)		342,955			365,247
ProLogis Trust,
5.625%, 11/15/15		345,000	2		366,136
5.750%, 04/01/16		280,000			300,748
Realty Income Corp.,
5.750%, 01/15/21		1,435,000			1,510,541
6.750%, 08/15/19		6,240,000			7,120,196
Simon Property Group, L.P., 5.750%, 12/01/15		445,000	2		494,921
SLM Corp.,
5.000%, 04/15/15		50,000			50,342
5.375%, 05/15/14		300,000			311,096
8.450%, 06/15/18		18,665,000			20,904,800
Springleaf Finance Corp., Series MTN, 6.900%, 12/15/17		57,315,000			52,371,581
WEA Finance LLC / WT Finance Australia, 6.750%, 09/02/19 (a)		8,325,000			9,552,255
White Mountains Insurance Group, Ltd., 6.375%, 03/20/17 (a)		4,555,000			4,661,300

Managers Bond Fund

Schedule of Portfolio Investments (continued)

Security Description	Principal  Amount†			Value
Financials - 24.9% (continued)
Willis North America, Inc.,
6.200%, 03/28/17	$	5,685,000		$	6,058,743
7.000%, 09/29/19		2,860,000	2		3,097,291
Total Financials					492,516,811
Industrials - 36.1%
Agilent Technologies, Inc., 6.500%, 11/01/17		6,945,000			7,747,856
Albertson’s, Inc.,
6.625%, 06/01/28		1,015,000			735,875
7.450%, 08/01/29		3,195,000			2,524,050
7.750%, 06/15/26		915,000			761,738
American President, Ltd., 8.000%, 01/15/2411		250,000			171,250
Anadarko Petroleum Corp., 6.450%, 09/15/36		13,875,000	2		13,857,087
AT&T Corp., 6.500%, 03/15/29		6,415,000	2		6,787,481
Bell Atlantic Pennsylvania, Inc., 6.000%, 12/01/28		1,335,000			1,243,125
BellSouth Corp., 6.000%, 11/15/34		2,370,000			2,320,642
Canadian Pacific Railway Co., 5.750%, 03/15/33		195,000			191,937
CenturyTel, Series P, 7.600%, 09/15/39		9,335,000	2		9,999,717
Choice Hotels International, Inc., 5.700%, 08/28/20		11,900,000	2		11,771,670
CIGNA Corp., 6.150%, 11/15/36		6,830,000			6,965,985
Comcast Corp., 5.650%, 06/15/35		3,820,000			3,590,815
Continental Airlines, Inc.,
5.983%, 04/19/22		17,493,407			17,930,742
6.795%, 08/02/20		28,000			27,440
Series 00A1, 8.048%, 11/01/20		85,803			93,525
Series B, 6.903%, 04/19/22		5,495,884			5,537,103
Corn Products International, Inc., 6.625%, 04/15/37		4,055,000			4,238,444
Corning, Inc.,
6.850%, 03/01/29		9,142,000	2		10,289,440
7.250%, 08/15/36		1,185,000			1,352,883
Cummins Engine Co., Inc.,
5.650%, 03/01/98		11,235,000			9,085,891
6.750%, 02/15/27		2,853,000	2		2,994,166
7.125%, 03/01/28		50,000	2		55,411
Cytec Industries, Inc., 6.000%, 10/01/15		875,000			957,909
Darden Restaurants, Inc., 6.000%, 08/15/35		2,635,000			2,549,695
Delta Air Lines, Inc.,
8.021%, 08/10/22		12,215,621	2		12,612,629
Pass Through Certificate, Series 2010-1A, 6.200%, 07/02/18		5,114,412	2		5,306,202
Dillards, Inc., 7.000%, 12/01/28		225,000			200,250
DP World, Ltd., 6.850%, 07/02/37 (a)		28,350,000			26,082,000
Duke Energy Field Services LLC, 6.450%, 11/03/36 (a)		2,615,000			2,658,331

Managers Bond Fund

Schedule of Portfolio Investments (continued)

Security Description	Principal  Amount†			Value
Industrials - 36.1% (continued)
Dun & Bradstreet Corp., The, 6.000%, 04/01/13	$	32,120,000		$	34,637,951
El Paso Corp., 6.950%, 06/01/28		1,030,000			1,043,499
Energy Transfer Partners, L.P.,
6.125%, 02/15/17		700,000			781,502
6.625%, 10/15/36		1,805,000	2		1,886,014
Enterprise Products Operating L.P., 6.300%, 09/15/17		8,440,000			9,515,703
Equifax, Inc., 7.000%, 07/01/37		4,421,000			4,712,941
Equitable Resources, Inc., 6.500%, 04/01/18		35,420,000			38,512,556
ERAC USA Finance Co.,
6.375%, 10/15/17 (a)		4,910,000			5,504,508
6.700%, 06/01/34 (a)		1,250,000			1,291,232
7.000%, 10/15/37 (a)		19,033,000			20,736,986
Foot Locker, Inc., 8.500%, 01/15/22		570,000			575,700
Ford Motor Co., 6.375%, 02/01/29		1,990,000	2		1,880,037
GTE Corp., 6.940%, 04/15/28		130,000			144,130
Intel Corp.,
2.950%, 12/15/3510		6,230,000			6,409,112
3.250%, 08/01/3910		15,000,000	2		17,643,750
Intuit, Inc., 5.750%, 03/15/17		3,560,000			3,897,759
Kinder Morgan Energy Partners L.P.,
5.800%, 03/15/35		3,360,000			3,209,428
5.950%, 02/15/18		44,630,000			49,142,807
Lowe’s Companies, Inc., 6.875%, 02/15/28		500,000			591,122
Lucent Technologies, Inc.,
6.450%, 03/15/29		4,335,000			3,728,100
6.500%, 01/15/28		305,000			262,300
Marks & Spencer Group PLC, 7.125%, 12/01/37 (a)		4,725,000			4,511,879
Masco Corp.,
5.850%, 03/15/17		8,150,000			7,990,977
6.500%, 08/15/32		955,000			861,683
7.125%, 03/15/20		9,065,000			9,381,124
7.750%, 08/01/29		820,000			834,090
Methanex Corp., 6.000%, 08/15/15		3,825,000			3,833,224
Missouri Pacific Railroad Co., 5.000%, 01/01/4511		825,000			603,958
Motorola, Inc.,
6.500%, 09/01/25		1,345,000			1,415,271
6.500%, 11/15/28		1,430,000	2		1,469,578
New England Telephone & Telegraph Co., 7.875%, 11/15/29		2,390,000			2,764,874
News America, Inc., 6.150%, 03/01/37		4,075,000	2		4,037,812
NGPL Pipeco LLC, 7.119%, 12/15/17 (a)		21,980,000	2		24,558,979
Northwest Airlines, Inc., 8.028%, 11/01/17		6,600,067			6,732,068

Managers Bond Fund

Schedule of Portfolio Investments (continued)

Security Description	Principal  Amount†			Value
Industrials - 36.1% (continued)
ONEOK Partners, L.P.,
6.000%, 06/15/35	$	9,210,000	2	$	8,959,488
6.650%, 10/01/36		2,650,000			2,813,033
Owens & Minor, Inc., 6.350%, 04/15/1611		1,355,000			1,390,222
Owens Corning, Inc.,
6.500%, 12/01/16		4,560,000	2		4,964,933
7.000%, 12/01/36		9,175,000			9,206,498
Panhandle Eastern Pipe Line Co., L.P.,
6.200%, 11/01/17		5,520,000			6,121,073
7.000%, 06/15/18		26,505,000			29,581,117
Plains All American Pipeline L.P.,
6.125%, 01/15/17		2,770,000			3,067,703
6.500%, 05/01/18		8,975,000			10,088,995
6.650%, 01/15/37		5,960,000	2		6,302,193
Pulte Homes, Inc.,
6.000%, 02/15/35		10,320,000			8,075,400
6.375%, 05/15/33		4,670,000			3,794,375
Qwest Capital Funding, Inc.,
6.500%, 11/15/18		620,000			632,400
6.875%, 07/15/28		1,190,000	2		1,181,075
7.625%, 08/03/21		2,135,000			2,220,400
Qwest Corp.,
6.875%, 09/15/33		7,209,000			7,218,011
7.200%, 11/10/26		435,000			437,175
7.250%, 09/15/25		1,185,000			1,262,025
7.250%, 10/15/35		2,165,000			2,197,475
7.500%, 06/15/23		739,000			740,848
Reynolds American, Inc.,
6.750%, 06/15/17		8,170,000	2		9,342,820
7.250%, 06/15/37		2,000,000			2,116,726
Rowan Cos., Inc., 7.875%, 08/01/19		4,710,000			5,586,889
Samsung Electronics Co., Ltd., 7.700%, 10/01/27 (a)		3,740,000			4,392,032
Telecom Italia Capital S.p.A.,
6.000%, 09/30/34		3,210,000			2,904,588
6.375%, 11/15/33		3,170,000			2,991,583
Telekom Malaysia Berhad, 7.875%, 08/01/25 (a)		250,000			316,807
Texas Eastern Transmission, L.P., 6.000%, 09/15/17 (a)		3,000,000			3,331,734
Toro Co., The, 6.625%, 05/01/3711		6,810,000			6,117,253
Transocean, Inc., 7.375%, 04/15/18		500,000			571,096
U.S. Steel Corp.,
6.650%, 06/01/37		3,595,000	2		3,307,400
7.000%, 02/01/18		7,310,000			7,593,262

Managers Bond Fund

Schedule of Portfolio Investments (continued)

Security Description	Principal  Amount†			Value
Industrials - 36.1% (continued)
United Airlines, Inc., 6.636%, 07/02/22	$	15,810,047		$	15,968,147
UnitedHealth Group, Inc.,
5.800%, 03/15/36		13,506,000			13,417,401
6.500%, 06/15/37		310,000			332,451
6.625%, 11/15/37		1,540,000	2		1,669,181
USG Corp., 6.300%, 11/15/16		1,410,000			1,325,400
V.F. Corp., 6.450%, 11/01/37		9,334,000	2		10,795,434
Vale Overseas Ltd., 6.875%, 11/01/36		3,665,000			3,902,716
Verizon Maryland, Inc., 5.125%, 06/15/33		1,055,000			952,282
Verizon New York, Inc., Series B, 7.375%, 04/01/32		1,755,000			1,969,015
Weatherford International, Inc., 6.500%, 08/01/36		1,565,000			1,564,814
Wellpoint, Inc., 6.375%, 06/15/37		11,710,000	2		12,593,449
Western Union Co.,
6.200%, 11/17/36		8,785,000	2		8,596,817
6.200%, 06/21/40		130,000			127,578
Weyerhaeuser Co.,
6.875%, 12/15/33		12,890,000			12,944,138
7.375%, 10/01/19		3,915,000	2		4,423,136
7.375%, 03/15/32		1,930,000			2,035,160
White Pine Hydro LLC,
6.310%, 07/10/17 (a)11		1,700,000			1,764,651
6.960%, 07/10/37 (a)11		1,645,000			1,557,815
Wyndham Worldwide Corp.,
5.750%, 02/01/18		950,000			984,344
6.000%, 12/01/16		6,430,000	2		6,813,485
7.375%, 03/01/20		7,220,000			7,964,743
Total Industrials					716,272,729
Utilities - 10.6%
Abu Dhabi National Energy Co., 7.250%, 08/01/18 (a)		21,130,000			23,269,412
Ameren Energy Generating Co., 7.000%, 04/15/18		22,700,000	2		23,007,698
Ameren Illinois Co., 6.250%, 04/01/18		26,000,000	2		28,451,436
Baltimore Gas & Electric Co., 5.200%, 06/15/33		1,470,000			1,366,090
Bruce Mansfield Unit 1 2, 6.850%, 06/01/3411		10,600,854			11,124,011
Cleveland Electric Illuminating Co., The, 5.950%, 12/15/36		15,155,000			14,176,048
Empresa Nacional de Electricidad, 7.875%, 02/01/27		2,900,000			3,238,563
ITC Holdings Corp.,
5.875%, 09/30/16 (a)		2,410,000			2,657,912
6.375%, 09/30/36 (a)		3,605,000			3,771,620
Mackinaw Power LLC, 6.296%, 10/31/23 (a)		8,657,445			9,136,721
Nisource Finance Corp.,
6.400%, 03/15/18		27,910,000			31,224,759
6.800%, 01/15/19		11,625,000			13,299,291

Managers Bond Fund

Schedule of Portfolio Investments (continued)

Security Description	Principal Amount†			Value
Utilities - 10.6% (continued)
Southwestern Electric Power Co., 6.450%, 01/15/19	$	39,195,000	2	$	43,741,307
Tenaga Nasional Berhad, 7.500%, 11/01/25 (a)		2,000,000			2,441,778
Total Utilities					210,906,646
Total Corporate Bonds (cost $1,314,914,895)					1,419,696,186
Foreign Government and Agency Obligations - 4.5%
Alberta, Province of, 5.930%, 09/16/16	CAD	113,088			127,231
Brazil, Republic of,
10.250%, 01/10/28	BRL	5,750,000			3,504,272
12.500%, 01/05/22	BRL	5,160,000			3,666,187
Canadian Government,
1.000%, 09/01/11	CAD	510,000			525,918
1.250%, 12/01/11	CAD	400,000			412,749
3.500%, 06/01/13	CAD	5,964,000			6,361,272
European Bank for Reconstruction & Development, 9.250%, 09/10/12	BRL	2,000,000			1,223,581
European Investment Bank,
5.932%, 04/24/13 (a)4	IDR	50,074,770,000			5,097,131
6.953%, 03/10/214	AUD	5,000,000			2,621,495
7.000%, 01/18/12	NZD	5,508,000			4,328,211
11.250%, 02/14/13	BRL	13,490,000			8,489,368
Inter-American Development Bank,
6.000%, 12/15/17	NZD	4,215,000			3,364,027
7.646%, 05/20/134	IDR	45,580,000,000			4,459,328
Series EMTN, 9.909%, 09/23/134	IDR	33,430,000,000			3,170,811
International Bank for Reconstruction & Development, Series GDIF, 1.430%, 03/05/14	SGD	5,800,000			4,620,210
Manitoba, Province of, 6.360%, 09/01/15	NZD	5,450,000			4,402,436
Mexican Government,
8.000%, 12/07/23	MXN	141,360,000			12,063,992
9.000%, 12/20/12	MXN	26,900,000			2,391,146
Series M 10, 7.250%, 12/15/16	MXN	31,000,000			2,635,200
New Zealand Government Bond, Series 413, 6.500%, 04/15/13	NZD	11,870,000			9,594,483
Queensland Treasury Corp., 7.125%, 09/18/17 (a)	NZD	7,500,000			6,141,940
Total Foreign Government and Agency Obligations (cost $79,521,401)					89,200,988
U.S. Government and Agency Obligations - 8.1%
Federal Home Loan Bank Corporation - 0.9%
FHLB, 1.875%, 06/21/13		16,600,000	2		16,917,010
FNMA - 2.1%
FHLMC, 1.625%, 04/15/13		16,595,000	2		16,848,605
FHLMC, 2.125%, 09/21/12		24,895,000			25,443,661
FHLMC, Gold, 5.000%, 12/01/31		111,807			117,825
Total FNMA					42,410,091

Managers Bond Fund

Schedule of Portfolio Investments (continued)

Security Description	Principal  Amount†		Value
Federal Home Loan Mortgage Corporation - 2.4%
FNMA, 1.375%, 04/28/11	$	33,195,000	$	33,227,232
FNMA, 1.875%, 04/20/12		10,325,000		10,484,748
FNMA, 4.000%, 10/01/18		4,094,745		4,286,687
FNMA, 6.000%, 07/01/29		8,908		9,808
Total Federal Home Loan Mortgage Corporation				48,008,475
U.S. Government Obligations- 2.7%
USTB, 3.875%, 11/15/40		41,390,000		39,585,645
USTN, 1.000%, 08/31/11		13,530,000		13,576,516
Total U.S. Government Obligations				53,162,161
Total U.S. Government and Agency Obligations (cost $158,811,951)				160,497,737
Municipal Bonds - 1.5%
Buckeye Tobacco Settlement Financing Authority, Series 2007 A-2, 5.875%, 06/01/4711		5,035,000		3,339,866
Chicago Illinois O’Hare International Airport Revenue Bond, Series 2008 A, 4.500%, 01/01/38, (AGM Insured)		315,000		245,190
Illinois State General Obligation, Series 2003, 5.100%, 06/01/33		2,880,000		2,335,305
Michigan Tobacco Settlement Financial Authority, Series 2006 A, 7.309%, 06/01/3411		3,025,000		2,145,663
San Jose California Redevelopment Agency Tax Allocation, Series 2006 C, 3.750%, 08/01/28, (BHAC Insured)		280,000		208,463
San Jose California Redevelopment Agency Tax Allocation, Series 2006 C, 3.750%, 08/01/28, (NATL-RE Insured)		765,000		528,959
State of California, 4.500%, 10/01/29		2,655,000		2,307,806
State of California, 4.500%, 08/01/27, (AMBAC Insured)		950,000		855,589
State of California, 4.500%, 08/01/30		730,000		628,450
State of California, 4.500%, 08/01/30, (AMBAC Insured)		770,000		662,885
State of California, Variable Purpose Bond, 3.250%, 12/01/27, (NATL-RE Insured)		495,000		368,770
State of California, Variable Purpose Bond, 4.500%, 12/01/33, (AMBAC Insured)		2,330,000		1,963,538
Virginia Tobacco Settlement Financing Corp., 6.706%, 06/01/4611		21,620,000		13,597,899
Total Municipal Bonds (cost $39,605,234)				29,188,383
Asset-Backed Securities - 4.2%
Chase Issuance Trust, Series 2007-B1, Class B1, 0.505%, 04/15/19 (04/15/11)6		17,040,000		16,401,884
Chrysler Financial Lease Trust, Series 2010-A, Class B, 3.460%, 09/16/13 (a)		7,516,208		7,523,623
CITEC, Series 2008-VT1, Class A3, 6.590%, 12/22/14		2,749,760		2,796,783
Citibank Credit Card Issuance Trust, Series 2008-C6, Class C6, 6.300%, 06/20/14		8,945,000		9,451,075
Marriott Vacation Club Owner Trust, Series 2009-2A, Class A, 4.809%, 07/20/31 (a)		12,264,177		12,578,169
MBNA, Series 2002-C1, Class C1, 6.800%, 07/15/14		6,911,000		7,234,212
Merrill Auto Trust Securitization, Series 2008-1, Class B, 6.750%, 04/15/15		4,035,000		4,248,036
Sierra Receivables Funding Company, Series 2010-2A, Class A, 3.840%, 11/20/25 (a)		17,152,159		17,088,226
Trinity Rail Leasing LP, Series 2009-1A, Class A, 6.657%, 11/16/39 (a)		4,748,223		5,043,246
World Financial Network Credit Card Master Note Trust, Series 2010-A, 6.750%, 04/15/19		1,000,000		1,083,942
Total Asset-Backed Securities (cost $79,275,915)				83,449,196

Managers Bond Fund

Schedule of Portfolio Investments (continued)

Security Description	Principal  Amount†		Value
Mortgage-Backed Securities - 1.3%
Bank of America-First Union, Series 2001, 5.464%, 04/11/37	$	909,346	$	915,310
Community Program Loan Trust, Series 87-A, Class A5, 4.500%, 04/01/29		3,325,000		3,144,253
Credit Suisse Mortgage Capital, Series 2007-C5, Class A4, 5.695%, 09/15/409		1,704,000		1,770,718
Extended Stay America Trust, Series 2010 ESHA, Class C, 4.860%, 11/05/27 (a)		19,090,000		19,390,753
JPMorgan Chase Commercial Mortgage Securities Corp., Series 2007-LD11, Class A4, 5.818%, 06/15/499		305,000		326,660
Total Mortgage-Backed Securities (cost $23,964,461)				25,547,694
	Shares
Preferred Stocks - 1.1%
Bank of America Corp., 6.375%		20,000		447,800
Bank of America Corp., Series L, 7.250%10		7,808		7,893,810
Comcast Corp. Series B, 7.000%,		207,547		5,311,128
Entergy New Orleans, Inc., 4.750%		482		39,102
Entergy New Orleans, Inc., 5.560%		100		9,494
Newell Financial Trust I, 5.250%10		90,628		4,338,815
SLM Corp., 6.000%		41,250		869,550
Sovereign Capital Trust IV, 4.375%10		34,236		1,523,502
Wisconsin Electric Power Co., 3.600%		3,946		284,975
Total Preferred Stocks (cost $18,122,043)				20,718,176
Short-Term Investments - 9.2%1
BNY Institutional Cash Reserves Fund, Series B*7,12		1,652,054		1,319,129
BNY Mellon Overnight Government Fund, 0.17%7		101,382,000		101,382,000
Dreyfus Cash Management Fund, Institutional Class Shares, 0.11%		80,372,311		80,372,311
Total Short-Term Investments (cost $183,406,365)				183,073,440
Total Investments - 101.5% (cost $1,897,622,265)				2,011,371,800
Other Assets, less Liabilities - (1.5)%				(29,620,323	)
Net Assets - 100.0%			$	1,981,751,477

Managers Global Bond Fund

Schedule of Portfolio Investments

March 31, 2011 (unaudited)

Security Description	Principal Amount			Value
Corporate Bonds - 31.5%
Financials - 10.3%
AXA SA, 7.125%, 12/15/20	GBP	100,000		$	171,541
Bank of America Corp., 4.750%, 05/06/199	EUR	100,000			133,490
BBVA Bancomer SA, 6.500%, 03/10/21 (a)	USD	100,000			98,816
Caterpillar Financial Services Corp., Series MTN, 2.650%, 04/01/16	USD	100,000			99,247
Citigroup, Inc., 5.500%, 02/15/17	USD	85,000			88,300
Crown Castle Towers LLC, 6.113%, 01/15/20 (a)	USD	100,000			108,385
Ford Motor Credit Co. LLC, 7.000%, 04/15/15	USD	100,000			108,243
GMAC, Inc., 6.875%, 08/28/12	USD	45,000			47,250
HSBC Bank PLC, 4.125%, 08/12/20 (a)	USD	100,000			95,695
JPMorgan Chase & Co., 4.400%, 07/22/20	USD	75,000			72,476
KfW Bankengruppe, 2.600%, 06/20/37	JPY	23,000,000			297,909
Lloyds TSB Bank PLC, 6.500%, 09/14/20 (a)	USD	100,000			98,311
Morgan Stanley, Series EMTN, 5.375%, 11/14/13	GBP	40,000			67,094
Network Rail Infrastructure Finance PLC, Series EMTN, 3.500%, 06/17/13	USD	300,000			315,000
SLM Corp., 5.000%, 10/01/13	USD	150,000			155,264
Volkswagen International Finance, N.V., 2.875%, 04/01/16 (a)	USD	100,000			98,553
Wells Fargo & Co., 4.625%, 11/02/35	GBP	50,000			69,856
White Mountains Insurance Group, Ltd., 6.375%, 03/20/17 (a)	USD	140,000			143,267
Zurich Finance USA, Inc.,
Series EMTN, 4.500%, 06/15/259	EUR	100,000			141,200
Series EMTN, 5.750%, 10/02/239	EUR	100,000			146,832
Total Financials					2,556,729
Industrials - 19.1%
Anadarko Petroleum Corp., 6.375%, 09/15/17	USD	45,000			49,531
ArcelorMittal, 5.250%, 08/05/20	USD	100,000	2		97,801
Asciano Finance, Ltd., 4.625%, 09/23/20 (a)	USD	125,000			118,388
Avnet, Inc., 5.875%, 06/15/20	USD	60,000			61,340
Axtel S.A.B. de C.V., 7.625%, 02/01/17 (a)	USD	55,000			51,700
Bell Aliant Regional Communications, 5.410%, 09/26/16	CAD	160,000			173,591
Bell Canada,
6.100%, 03/16/35 (a)	CAD	45,000			46,074
6.550%, 05/01/29 (a)	CAD	10,000			10,927
7.300%, 02/23/32 (a)	CAD	130,000			151,580
British Telecommunications PLC, 5.750%, 12/07/28	GBP	100,000			154,052
CenturyLink, Inc., Series G, 6.875%, 01/15/28	USD	35,000			35,367
Chesapeake Energy Corp., 6.875%, 11/15/20	USD	55,000	2		59,400
Citizens Communications Co., 6.625%, 03/15/15	USD	115,000	2		119,888
Corus Entertainment, Inc., 7.250%, 02/10/17 (a)	CAD	130,000			143,141
CSC Holdings Ltd., 8.500%, 04/15/14	USD	100,000			112,125

Managers Global Bond Fund

Schedule of Portfolio Investments (continued)

Security Description	Principal Amount			Value
Industrials - 19.1% (continued)
Delta Air Lines, Inc.,
6.821%, 08/10/22	USD	145,205		$	149,925
8.021%, 08/10/22	USD	91,875			94,861
Desarrolladora Homex, S.A. de C.V., 7.500%, 09/28/15	USD	190,000	2		195,700
DP World, Ltd., 6.850%, 07/02/37 (a)	USD	250,000			230,000
eAccess, Ltd., 8.250%, 04/01/18 (a)	USD	60,000			60,975
EchoStar DBS Corp., 6.625%, 10/01/14	USD	65,000			68,819
Edcon Proprietary Ltd., 7.395%, 06/15/14 (06/15/11) (a)6	EUR	150,000			181,755
Embarq Corp., 7.995%, 06/01/36	USD	75,000			84,555
ERAC USA Finance Co.,
6.375%, 10/15/17 (a)	USD	75,000			84,081
6.700%, 06/01/34 (a)	USD	120,000			123,958
7.000%, 10/15/37 (a)	USD	20,000			21,791
Finmeccanica SpA, 4.875, 03/24/25	EUR	100,000			133,901
HCA, Inc.,
6.375%, 01/15/15	USD	35,000			35,700
6.625%, 02/15/16	USD	80,000			81,400
7.580%, 09/15/25	USD	10,000			9,425
7.690%, 06/15/25	USD	15,000			14,288
Hologic, Inc., 2.000%, 12/15/37 (b)	USD	70,000			67,550
Lafarge SA, EMTN, Series 2010, 5.375%, 11/29/18	EUR	50,000			70,181
Motorola, Inc.,
6.500%, 09/01/25	USD	105,000			110,486
6.625%, 11/15/37	USD	120,000			128,760
Nabors Industries, Inc., 6.150%, 02/15/18	USD	75,000			82,114
Nextel Communications, Inc.,
6.875%, 10/31/13	USD	69,000			69,518
7.375%, 08/01/15	USD	65,000			65,244
Noble Group, Ltd., 8.500%, 05/30/13 (a)	USD	100,000			111,750
Odebrecht Drill VIII/IX, Ltd., 6.350%, 06/30/21 (a)	USD	100,000	2		105,375
Owens & Minor, Inc., 6.350%, 04/15/1611	USD	105,000			107,729
Owens-Brockway Glass Container, Inc., 6.750%, 12/01/14	EUR	50,000			71,923
Qwest Corp., 7.250%, 10/15/35	USD	158,000			160,370
Rowan Companies, Inc., 5.000%, 09/01/17	USD	95,000			98,294
Telecom Italia Capital S.A.,
6.375%, 11/15/33	USD	45,000			42,467
7.200%, 07/18/36	USD	20,000			20,071
Transport De Gas Del Sur, 7.875%, 05/14/17 (a)	USD	270,000			266,625
Valeant Pharmaceuticals International, Inc., 6.750%, 08/15/21 (a)	USD	60,000			56,925
Voto-Votorantim, Ltd., 6.750%, 04/05/21 (a)	USD	100,000			106,000
Windstream Corp., 8.125%, 09/01/18	USD	50,000			53,375
Total Industrials					4,750,796

Managers Global Bond Fund

Schedule of Portfolio Investments (continued)

Security Description	Principal Amount			Value
Utilities - 2.1%
Axtel S.A.B. de C.V.. 9.000%, 09/22/19 (a)		USD	45,000	$	43,200
Dubai Electricity & Water Authority, 6.375%, 10/21/16 (a)		USD	100,000		100,750
Emgesa SA ESP, 8.750%, 01/25/21 (a)		COP	120,000,000		67,576
Empresas Publicas de Medellin E.S.P., 8.375%, 02/02/21 (a)		COP	180,000,000		99,373
Iberdrola Finance Ireland, Ltd., 5.000%, 09/11/19 (a)		USD	150,000		145,933
IPALCO Enterprises, Inc., 7.250%, 04/01/16 (a)		USD	30,000		32,475
NRG Energy, Inc., 8.250%, 09/01/20 (a)		USD	45,000		46,800
Total Utilities					536,107
Total Corporate Bonds (cost $7,298,469)					7,843,632
Foreign Government and Agency Obligations - 55.6%
Australian Government Index Linked, Series 2009 25CI, 3.000%, 09/20/25		AUD	180,000		202,199
Banco Nacional de Desenvolvimento Economico e Social, 6.500%, 06/10/19 (a)		USD	100,000		109,000
British Columbia, Series BCUSG-4, 2.850%, 06/15/15		USD	175,000		179,736
Bundesrepublik Deutschland,
3.000%, 07/04/20		EUR	55,000		75,936
3.750%, 07/04/13		EUR	330,000		486,970
4.000%, 01/04/37		EUR	100,000		144,466
Canadian Government, 3.000%, 12/01/15		CAD	550,000		575,732
Denmark Government,
4.000%, 11/15/15		DKK	2,500,000		500,231
Series EMTN, 1.750%, 10/05/15		EUR	55,000		74,766
Eksportfinans ASA, Series GMTN, 1.875%, 04/02/13		USD	170,000		172,403
European Investment Bank,
2.375%, 07/10/20		CHF	165,000		183,069
5.932%, 04/24/13 (a)4		IDR	4,605,000,000		468,745
Export-Import Bank of Korea, The, 4.000%, 11/26/15 (a)		PHP	5,000,000		110,484
Finland Government, 3.875%, 09/15/17		EUR	245,000		360,650
Hungary Government, 6.375%, 03/29/21		USD	60,000		60,060
Inter-American Development Bank,
4.750%, 01/10/14		INR	5,800,000		126,470
8.593%, 08/20/154		IDR	750,000,000		59,552
Italian Treasury Bond, 4.000%, 09/01/20		EUR	380,000		510,535
Japan Finance Corporation for Municipal Enterprises,
1.550%, 02/21/12		JPY	49,000,000		595,895
1.900%, 06/22/18		JPY	20,000,000		257,094
Series INTL, 1.350%, 11/26/13		JPY	20,000,000		246,598
Japan Government,
Series 84, 0.700%, 06/20/14		JPY	76,500,000		930,924
Series 299, 1.300%, 03/20/19		JPY	81,000,000		1,001,357
Series 301, 0.200%, 02/15/13		JPY	18,000,000		216,401
Mexican Fixed Rate Bonds, 8.000%, 12/07/23		MXN	3,900,000		332,835

Managers Global Bond Fund

Schedule of Portfolio Investments (continued)

Security Description	Principal Amount			Value
Foreign Government and Agency Obligations - 55.6% (continued)
Netherlands Government Bond, 4.500%, 07/15/17	EUR	454,000		$	692,208
New South Wales Treasury Corp., Series 2007 CIB1, 2.750%, 11/20/25	AUD	70,000			76,041
New Zealand Government Bond, Series 413, 6.500%, 04/15/13	NZD	350,000			282,904
Norway Government Bond,
4.250%, 05/19/17	NOK	1,300,000			244,552
4.500%, 05/22/19	NOK	2,570,000			489,374
Ontario, Province of, 2.950%, 02/05/15	USD	245,000			253,168
Peruvian Government, 7.840%, 08/12/20 (a)	PEN	250,000			95,598
Poland Government,
Series 1013, 5.000%, 10/24/13	PLN	700,000			245,651
Series EMTN, 3.000%, 09/23/14	CHF	65,000			71,617
Quebec, Province of,
EMTN, Series 2005, 3.625%, 02/10/15	EUR	200,000			289,172
Series EMTN, 3.375%, 06/20/16	EUR	150,000			213,174
Argentina Government Bond, Series NY, 8.280%, 12/31/33	USD	143,105	2		127,578
Saskatchewan, Province of, 7.375%, 07/15/13	USD	225,000			254,729
Singapore Government,
1.625%, 04/01/13	SGD	325,000			263,937
2.250%, 07/01/13	SGD	535,000			442,033
Sweden Government Bond, Series 1046, 5.500%, 10/08/12	SEK	3,520,000			583,664
U.K. Gilt,
4.000%, 09/07/16	GBP	100,000			170,383
4.000%, 03/07/22	GBP	145,000			235,395
4.750%, 03/04/20	GBP	275,000			479,715
5.000%, 03/07/25	GBP	40,000			70,432
5.250%, 06/07/12	GBP	75,000			126,269
Uruguay Government International Bond,
3.700%, 06/26/37	UYU	800,000			55,098
5.000%, 09/14/18	UYU	1,000,000			85,434
Total Foreign Government and Agency Obligations (cost $13,298,119)					13,830,234
U.S. Government Obligations - 5.4%
USTN, 1.375%, 02/15/12	USD	1,100,000			1,110,441
USTN, 2.375%, 02/28/15	USD	220,000			225,364
Total U.S. Government Obligations (cost $1,337,504)					1,335,805
Asset-Backed Securities - 3.8%
Avis Budget Rental Car Funding (AESOP) LLC II, Series 2009 2A, Class A, 5.680%, 02/20/14 (a)	USD	100,000			106,828
COMET, Series 2004-B7, Class B7, 1.502%, 08/17/17 (04/19/11)6	EUR	100,000			135,178
Hertz Vehicle Financing LLC, Series 2009 2A, Class A1, 4.260%, 03/25/16 (a)	USD	100,000			104,771
Hyundai Capital Auto Funding, Ltd., Series 2010 8A, Class A, 1.254%, 09/20/16 (04/19/11) (a)6	USD	200,000			198,635
MBNA Credit Card Master Note Trust, Series 2005 B3, Class B3, 1.314%, 03/19/18 (04/19/11)6	EUR	100,000			131,338
Sierra Receivables Funding Company, Series 2009-3A, Class A1, 7.620%, 07/20/26 (a)	USD	61,867			63,283

Managers Global Bond Fund

Schedule of Portfolio Investments (continued)

Security Description	Principal Amount		Value
Asset-Backed Securities - 3.8% (continued)
Trinity Rail Leasing, L.P., Series 2010 1A, Class A, 5.194%, 10/16/40 (a)	USD	98,577	$	98,567
World Financial Credit Card Master Trust, Series 2010-A, Class A, 3.960%, 06/15/15	USD	95,000		98,311
Total Asset-Backed Securities (cost $884,804)				936,911
Mortgage-Backed Securities - 0.5%
Extended Stay America Trust, Series 2010 ESHA, Class D, 5.498%, 11/05/27 (a) (cost $134,999)	USD	135,000		136,544
	Shares
Short-Term Investments - 3.6%1
BNY Institutional Cash Reserves Fund, Series B*7, 12		38,044		30,377
BNY Mellon Overnight Government Fund, 0.17%7		660,000		660,000
Dreyfus Cash Management Fund, Institutional Class Shares, 0.11%		211,824		211,824
Total Short-Term Investments (cost $909,868)				902,201
Total Investments - 100.4% (cost $23,863,763)				24,985,327
Other Assets, less Liabilities - (0.4)%				(102,440	)
Net Assets - 100.0%			$	24,882,887

Notes to Schedule of Portfolio Investments (unaudited)

The following footnotes and abbreviations are to be read in conjunction with the Schedules of Portfolio Investments previously presented in this report.

At March 31, 2011, the cost of securities for Federal income tax purposes and the gross aggregate unrealized appreciation and/or depreciation based on tax cost were approximately as follows:

Fund	Cost		Appreciation		Depreciation			Net
Special Equity	$	275,129,462	$	87,431,206	($	2,494,595	)	$	84,936,611
International Equity		97,919,757		12,307,351		(4,161,626	)		8,145,725
Emerging Markets Equity		55,923,965		9,973,306		(1,277,244	)		8,696,062
Bond		1,898,054,252		135,348,821		(22,031,273	)		113,317,548
Global Bond		23,873,992		1,257,983		(146,648	)		1,111,335

^*  Non-income-producing security

^†  Principal Amount stated in U.S. dollars unless otherwise noted.

^#  Rounds to less than 0.0%

^(a)  Security is exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration, normally to qualified buyers. At March 31, 2011, the value of these securities amounted to the following:

Fund	Value		% of Net Assets
International Equity	$	505,834		0.5	%
Emerging Markets Equity		471,402		0.7	%
Bond		325,056,569		16.4	%
Global Bond		4,542,634		18.3	%

^(b) Step Bond: A debt instrument with either deferred interest payments or an interest rate that resets at specific times during its term.

¹  Yield shown for an investment company represents the March 31, 2011, seven-day average yield, which refers to the sum of the previous seven days’ dividends paid, expressed as an annual percentage.

² Some or all of these securities were out on loan to various brokers as of March 31, 2011, amounting to:

Fund	Value		% of Net Assets
Special Equity	$	15,322,941		1.8	%
International Equity		6,639,972		6.6	%
Emerging Markets Equity		1,156,978		1.8	%
Bond		99,828,815		5.0	%
Global Bond		685,447		2.8	%

³  Yield shown for an investment company represents the March 31, 2011, seven-day average yield, which refers to the sum of the previous seven days’ dividends paid, expressed as an annual percentage.

⁴  Indicates yield to maturity at March 31, 2011.

⁵  Security pledged to cover margin requirements for open futures positions at March 31, 2011.

⁶  Floating Rate Security: The rate listed is as of March 31, 2011. Date in parenthesis represents the security’s next coupon rate reset.

⁷  Collateral received from brokers for securities lending was invested in this short-term investment.

⁸  All or part of security has been segregated for delayed delivery transactions.

⁹  Variable Rate Security: The rate listed is as of March 31, 2011 and is periodically reset subject to terms and conditions set forth in the debenture.

¹⁰  Convertible Bond: A corporate, usually a junior debenture that can be converted, at the option of the holder, for a specific number of shares of the company’s preferred stock or common stock. Convertible bonds market value at March 31, 2011, amounted to the following:

Fund	Value		% of Net Assets
Bond	$	47,063,564		2.4	%
Global Bond		67,550		0.3	%

Notes to Schedule of Portfolio Investments (unaudited)

¹¹  Illiquid Security: A security not readily convertible into cash such as a stock, bond or commodity that is not actively traded and would be difficult to sell in a current sale. The Funds may not invest more than 15% of their net assets in illiquid securities. All securities are valued by an independent pricing agent. Illiquid securities market value at March 31, 2011, amounted to the following:

Fund	Value		% of Net Assets
Bond	$	53,039,685		2.7	%
Global Bond		107,729		0.4	%

¹²  On September 12, 2008, The Bank of New York Mellon established a separate sleeve of the BNY Institutional Cash Reserves Fund (Series B) to hold certain Lehman Brothers floating rate notes. Until August 2, 2010, each Fund’s position in Series B was being marked to market daily. Effective August 2, 2010, the Trust, on behalf of each applicable Fund, has entered into an agreement with The Bank of New York Mellon and the Bank of New York Mellon Corporation (“BNYMC”) with respect to each Fund’s position in the BNY Institutional Cash Reserves Fund (the “ICRF”), pursuant to which (i) BNYMC will support the value of certain defaulted securities issued by Lehman Brothers Holdings, Inc. and held by ICRF, and (ii) if certain conditions are met, BNYMC will purchase the defaulted securities from each Fund in September 2011. Each applicable Fund is fair valuing its position in the ICRF daily.

Fair Value Measurements

Generally Accepted Accounting Principles (GAAP) define fair value as the price that a Fund would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. GAAP also establishes a framework for measuring fair value, and a three-level hierarchy for fair value measurements based upon the transparency of inputs to the valuation of an asset or liability. Inputs may be observable or unobservable and refer broadly to the assumptions that market participants would use in pricing the asset or liability. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability based on market data obtained from sources independent of the Funds. Unobservable inputs reflect the Funds’ own assumptions about the assumptions that market participants would use in pricing the asset or liability developed based on the best information available in the circumstances. Each investment is assigned a level based upon the observability of the inputs which are significant to the overall valuation. The three-tier hierarchy of inputs is summarized below:

Level 1 – inputs are quoted prices in active markets for identical investments (e.g., equity securities, open-end investment companies, futures contracts, options contracts)

Level 2 – other observable inputs (including, but not limited to: quoted prices for similar assets or liabilities in markets that are active , quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the assets or liabilities (such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks and default rates) or other market corroborated inputs) (e.g., debt securities, government securities, swap contracts, foreign currency, exchange contracts, foreign securities utilizing international fair value pricing, broker-quoted securities, fair valued securities with observable inputs)

Level 3 – inputs are significant unobservable inputs (including the Funds’ own assumptions used to determine the fair value of investments) (e.g., fair valued securities with unobservable inputs)

The inputs or methodologies used for valuing investments are not necessarily an indication of the risk associated with investing in those investments. As of March 31, 2011, the Funds had no significant transfers between Level 1 and Level 2 from the beginning of the reporting period. The following table summarizes the inputs used to value the Funds’ net assets by the above fair value hierarchy levels as of March 31, 2011:

	Quoted Prices in Active Markets for Identical Investments Level 1		Significant Other Observable Inputs Level 2		Significant Unobservable  Inputs Level 3		Total
Special Equity Fund
Investments in Securities
Common Stocks 1	$	333,543,075		—		—	$	333,543,075
Short-Term Investments		24,527,155	$	1,995,843		—		26,522,998
Total Investments in Securities	$	358,070,230	$	1,995,843		—	$	360,066,073

Notes to Schedule of Portfolio Investments (unaudited)

	Quoted Prices in Active Markets for Identical Investments Level 1		Significant Other Observable  Inputs Level 2			Significant Unobservable  Inputs Level 3		Total
International Equity Fund
Investments in Securities
Common Stocks
Materials	$	3,384,331	$	8,070,508			—	$	11,454,839
Energy		2,972,816		6,837,508			—		9,810,324
Financials		1,795,129		23,116,263			—		24,911,392
Information Technology		1,111,666		4,561,671			—		5,673,337
Telecommunication Services		659,115		4,615,207			—		5,274,322
Consumer Discretionary		572,237		12,099,086			—		12,671,323
Health Care		523,056		5,318,079			—		5,841,135
Consumer Staples		—		6,654,731			—		6,654,731
Industrials		—		10,176,023			—		10,176,023
Utilities		—		2,363,820			—		2,363,820
Other Equities		852,902		6,568			—		859,470
Short-Term Investments		10,291,440		83,326			—		10,374,766
Total Investments in Securities	$	22,162,692	$	83,902,790			—	$	106,065,482
Derivatives4
Equity Contracts	$	3,729		—			—	$	3,729
Foreign Exchange Contracts		—	($	26,665	)		—		(26,665	)
Total Derivatives	$	3,729	($	26,665	)		—	($	22,936	)
	Quoted Prices in Active Markets for Identical Investments Level 1		Significant Other Observable Inputs Level 2			Significant Unobservable Inputs Level 3		Total
Emerging Markets Equity Fund
Investments in Securities
Common Stocks
Energy	$	2,966,432	$	7,877,273			—	$	10,843,705
Materials		3,384,263		7,273,113			—		10,657,376
Information Technology		1,369,412		6,575,650			—		7,945,062
Financials		2,744,076		12,446,875			—		15,190,951
Telecommunication Services		974,405		2,018,915			—		2,993,320
Consumer Discretionary		2,329,974		4,298,794			—		6,628,768
Industrials		928,664		2,937,533			—		3,866,197
Consumer Staples		534,489		1,169,741			—		1,704,230
Utilities		271,514		757,619			—		1,029,133
Other Equities		—		716,832			—		716,832
Short-Term Investments		2,956,028		88,425			—		3,044,453
Total Investments in Securities	$	18,459,257	$	46,160,770			—	$	64,620,027

Notes to Schedule of Portfolio Investments (unaudited)

	Quoted Prices in  Active Markets for Identical Investments Level 1		Significant Other Observable  Inputs Level 2		Significant Unobservable  Input Level 3		Total
Bond Fund
Investments in Securities
Corporate Bonds2		—	$	1,419,696,186		—	$	1,419,696,186
Foreign Government Obligations		—		89,200,988		—		89,200,988
U.S. Government and Agency Obligations3		—		160,497,737		—		160,497,737
Municipal Bonds		—		29,188,383		—		29,188,383
Asset-Backed Securities		—		83,449,196		—		83,449,196
Mortgage-Backed Securities		—		25,547,694		—		25,547,694
Preferred Stocks	$	20,718,176		—		—		20,718,176
Short-Term Investments		181,754,311		1,319,129		—		183,073,440
Total Investments in Securities	$	202,472,487	$	1,808,899,313		—	$	2,011,371,800
	Quoted Prices in  Active Markets for Identical Investments Level 1		Significant Other Observable Inputs Level 2		Significant Unobservable Inputs Level 3		Total
Global Bond Fund
Investments in Securities
Corporate Bonds2		—	$	7,843,632		—	$	7,843,632
Foreign Government Obligations		—		13,830,234		—		13,830,234
U.S. Treasury Notes		—		1,335,805		—		1,335,805
Asset-Backed Securities		—		936,911		—		936,911
Mortgage-Backed Securities		—		136,544		—		136,544
Short-Term Investments	$	871,824		30,377		—		902,201
Total Investments in Securities	$	871,824	$	24,113,503		—	$	24,985,327
Derivatives4
Foreign Exchange Contracts		—	$	13,896		—	$	13,896

¹  All common stocks held in the Fund are Level 1 securities. For a detailed break-out of the common stocks by major industry classification, please refer to the Schedule of Portfolio Investments.

²  All corporate bonds held in the Fund are Level 2 securities. For a detailed break-out of the corporate bonds by major industry classification, please refer to the Schedule of Portfolio Investments.

³  All U.S. Government and Agency Obligations held in the Fund are Level 2.

⁴  Derivative instruments not reflected in the Schedule of Portfolio Investments, such as futures, forwards and swap contracts, are valued at the unrealized appreciation/ depreciation of the instrument.

Futures Contracts

International Equity and Global Bond entered into futures contracts, including futures contracts on global equity and fixed-income securities, interest rate futures contracts, foreign currency futures contracts and futures contracts on security indices (including broad-based security indices). The Funds purchased or sold futures contracts to achieve a desired level of investment, whether to accommodate portfolio turnover or cash flows from capital shares transactions. There are certain risks associated with futures contracts. Prices may not move as expected or a Fund may not be able to close out the contract when it desires to do so, resulting in losses. On entering into a futures contract, either cash or securities in an amount equal to a certain percentage of the contract value (initial margin) must be deposited with the futures broker. Subsequent payments (variation margin) are made or received each day. The variation margin payments equal the daily changes in the contract value and are recorded as unrealized gains or losses. The Funds recognize a realized gain or loss when the contract is closed or expires equal to the difference between the

Notes to Schedule of Portfolio Investments (unaudited)

value of the contract at the time it was opened and the value at the time it was closed. Futures are valued at their quoted daily settlement prices. The aggregate principal amounts of the contracts are not recorded in the financial statements. Fluctuations in the value of the contracts are recorded in the Statement of Assets and Liabilities as an asset (liability) and in the Statement of Operations as unrealized appreciation (depreciation) until the contracts are closed, when they are recorded as realized gains (losses) on futures or forward currency contracts. International Equity had the following open futures contracts as of March 31, 2011 and the market value of assets pledged to cover margin requirements for the open futures positions at March 31, 2011 amounted to $47,692 and EUR 21,204:

Type	Currency	Number of Contracts	Position	Expiration Date	Unrealized Loss
DJ Euro Stoxx 50	Euro	5	Long	06/17/11	$	3,729

Forward Foreign Currency Contracts

International Equity, Emerging Markets Equity, Bond and Global Bond invest in forward foreign currency exchange contracts to manage currency exposure. These investments may involve greater market risk than the amounts disclosed in the Funds’ financial statements.

A forward foreign currency exchange contract is an agreement between a Fund and another party to buy or sell a currency at a set price at a future date. The market value of the contract will fluctuate with changes in currency exchange rates. The contract is marked-to-market daily, and the change in market value is recorded as an unrealized gain or loss. Gain or loss on the purchase or sale of contracts having the same settlement date, amount and counter party is realized on the date of offset, otherwise gain or loss is realized on settlement date.

Open forward foreign currency exchange contracts (in U.S. Dollars) at March 31, 2011, for International Equity Fund, were as follows:

Foreign Currency	Position		Settlement Date		Counterparty		Current Value (Receivable)		Contract Value (Payable)		Unrealized Gain/(Loss)
International Equity
Canadian Dollar		Short		5/16/2011		BNYM	$	1,928,483	$	1,972,207	($	43,724	)
Japanese Yen		Short		5/16/2011		BNYM		282,033		283,993		(1,960	)
Canadian Dollar		Long		5/16/2011		BNYM		685,223		665,502		19,721
Japanese Yen		Long		5/16/2011		BNYM		283,993		284,695		(702	)
						Totals:	$	3,179,732	$	3,206,397	($	26,665	)

Open forward foreign currency exchange contracts (in U.S. Dollars) at March 31, 2011, for Global Bond Fund, were as follows:

Foreign Currency	Position		Settlement Date		Counterparty		Current Value (Receivable)		Contract Value (Payable)		Unrealized Gain/(Loss)
Global Bond
Canadian Dollar		Short		6/7/2011		CS	$	266,361	$	267,768	($	1,407	)
Danish Krone		Short		6/15/2011		BRC		492,096		504,860		(12,764	)
New Zealand Dollar		Short		5/27/2011		CS		268,232		273,615		(5,383	)
Polish Zloty		Short		6/2/2011		MSC		278,422		283,669		(5,247	)
Pound Sterling		Short		6/16/2011		UBS		261,584		261,771		(187	)
Euro		Long		6/16/2011		UBS		268,847		261,584		7,263
Malaysian Ringgit		Long		6/20/2011		JPM		279,058		276,909		2,149
New Zealand Dollar		Long		5/27/2011		CS		273,616		265,225		8,391
Polish Zloty		Long		6/2/2011		MSC		283,670		278,064		5,606
South Korean Won		Long		6/13/2011		UBS		780,184		767,172		13,012
South Korean Won		Long		6/13/2011		CS		154,222		151,759		2,463
						Totals:	$	3,606,292	$	3,592,396	$	13,896

Notes to Schedule of Portfolio Investments (unaudited)

Investments Definitions and Abbreviations:

ADR/GDR: ADR after the name of a holding stands for American Depositary Receipt, representing ownership of foreign securities on deposit with a domestic custodian bank; a GDR (Global Depositary Receipt) is comparable, but foreign securities are held on deposit in a non-U.S. bank. The value of the ADR/GDR securities is determined or significantly influenced by trading on exchanges not located in the United States or Canada. Sponsored ADR/GDRs are initiated by the underlying foreign company.

AGM:	Assured Guaranty Municipal Corp
AMBAC:	American Municipal Bond Assurance Corp.
BHAC:	Berkshire Hathaway Assurance Corp.
EMTN:	European Medium Term Note
ESHA:	Extended Stay Hotels America
FHLB:	Federal Home Loan Bank
FHLMC:	Federal Home Loan Mortgage Corp.
FNMA:	Federal National Mortgage Association
GDIF:	Global Debt Insurance Facility
GMAC:	General Motors Acceptance Corporation
GMTN:	Global Multi-Currency Notes
MBIA:	MBIA Insurance Corp.
MTN:	Medium Term Notes
NATL-RE:	National Public Finance Guarantee Group
NVDR:	Non-Voting Depository Receipt
Reg S:	Regulation S is a series of rules that clarifies the position of the Securities and Exchange Commission (“SEC”) that securities offered and sold outside of the United States do not need to be registered with the SEC.
RSP:	Risparmio shares which are saving shares traded on the Italian Stock Exchange
USTB:	United States Treasury Bonds
USTN:	United States Treasury Notes
Abbreviations have been used throughout the portfolios to indicate amounts shown in currencies of par values other than the U.S. dollar (USD):
AUD:	Australian Dollar
BRL:	Brazilian Real
CAD:	Canadian Dollar
CHF:	Swiss Franc
COP:	Colombian Peso
DKK:	Danish Krone
EUR:	euro
GBP:	British Pound
IDR:	Indonesian Rupiah
INR:	Indian Rupee
JPY:	Japanese Yen
ISK:	Iceland Krona
MXN:	Mexican Peso
NOK:	Norwegian Krone
NZD:	New Zealand Dollar
PEN:	Peruvian Nuevo Sol
PHP:	Philippine Peso
PLN:	Polish Zloty
SGD:	Singapore Dollar
SEK:	Swedish Krona
THB:	Thailand Baht
UYU:	Uruguayan Peso
Counterparty Abbreviations:
BNYM:	Bank of New York Mellon
BRC:	Barclays Bank
CS:	Credit Suisse
JPM:	JPMorgan Chase
MSC:	Morgan Stanley
UBS:	UBS Securities

Item 2. Controls and Procedures.

(a) The registrant’s principal executive and principal financial officers, or persons performing similar functions, have concluded that the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the “1940 Act”) (17 CFR 270.30a-3 (c))) are effective, as of a date within 90 days of the filing date of the report that includes the disclosure required by this paragraph, based on their evaluation of these controls and procedures required by Rule 30a-3(b) under the 1940 Act (17 CFR 270.30a-3(b)) and Rules 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934, as amended (17 CFR 240.13a-15(b) or 240.15d-15 (b)).

(b) There were no changes in the registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act (17 CFR 270.30a-3(d)) that occurred during the registrant’s last fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting.

Item 3. Exhibits.

Certifications of principal executive officer and principal financial officer as required by Rule 30a-2(a) under the Investment Company Act of 1940 are attached as Exhibit 99.CERT

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.

THE MANAGERS FUNDS

By:	/s/ John H. Streur
John H. Streur, President

Date: May 25, 2011

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

By:	/s/ John H. Streur
John H. Streur, President

Date: May 25, 2011

By:	/s/ Donald S. Rumery
Donald S. Rumery, Chief Financial Officer

Date: May 25, 2011