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  811-05309

First American Investment Funds, Inc.

(Exact name of registrant as specified in charter)

800 Nicollet Mall Minneapolis, MN 55402

(Address of principal executive offices) (Zip code)

Charles D. Gariboldi, Jr., 800 Nicollet Mall Minneapolis, MN 55402

(Name and address of agent for service)

800-677-3863

Registrant's telephone number, including area code

Date of fiscal year end: 10/31/08

Date of reporting period:  07/31/08

Item 1.  Schedule of Investments.

Schedule of INVESTMENTS July 31, 2008 (unaudited), all dollars are rounded to thousands (000)
Real Estate Securities Fund
DESCRIPTION	SHARES		VALUE +
Common Stocks - 97.4%
Apartments - 15.6%
American Campus Communities wq	$	206,235	$	6,039
Apartment Investment & Management, Class A w		51,535		1,761
Avalonbay Communities wq		313,489		31,258
Boardwalk Real Estate wlÞ		244,091		9,349
Camden Property Trust wq		366,395		18,019
Equity Residential Properties Trust wq		671,602		28,993
Essex Property Trust wq		135,149		16,400
Home Properties wq		142,639		7,848
Mid-America Apartment Communities wq		82,821		4,760
Northern Property wÞ		90,267		1,990
Post Properties wq		109,171		3,470
UDR wq		138,316		3,533
				133,420
Community Centers - 12.2%
Acadia Realty Trust wq		158,970		3,607
Developers Diversified Realty wq		606,557		19,385
Equity One wq		123,545		2,386
Eurocommercial Properties wÞ		66,153		3,107
Federal Realty Investment Trust wq		288,071		20,917
Kimco Realty wq		717,378		25,316
Regency Centers wq		335,742		19,977
Saul Centers wq		107,485		5,210
Weingarten Realty Investors wq		143,300		4,369
				104,274
Diversified - 6.6%
Brixton wÞ		1,445,052		6,446
Colonial Properties Trust wq		189,400		3,780
Cousins Properties wq		49,958		1,098
Forest City Enterprises, Class A		117,688		3,068
Mission West Properties wq		219,678		2,175
Vornado Realty Trust wq		350,831		33,354
Washington Real Estate Investment Trust wq		186,194		6,379
				56,300
Healthcare - 9.4%
Brookdale Senior Living q		125,620		1,917
Capital Senior Living ql		708,922		4,920
HCP wq		631,086		22,763
Health Care REIT wq		215,505		10,747
Healthcare Realty Trust wq		77,826		2,258
LTC Properties w		2,544		74
Nationwide Health Properties wq		23,521		873
Parkway Life wÞ		945,184		822
Universal Health Realty Income Trust wq		41,103		1,438
Ventas wq		780,992		35,035
				80,847
Hotels - 3.6%
DiamondRock Hospitality wq		500,618		4,616
Hersha Hospitality Trust w		116,218		825
Host Marriott wq		1,097,145		14,383
LaSalle Hotel Properties wq		129,238		2,935
Marriott International, Class A q		169,114		4,382
Starwood Hotels & Resorts Worldwide		49,833		1,709
Strategic Hotels & Resorts wq		235,583		1,859
				30,709
Industrials - 10.8%
AMB Property wq		225,886		11,059
DCT Industrial Trust wq		852,226		7,218
EastGroup Properties wq		128,204		5,949
First Potomac Realty Trust w		64,993		1,032
Forth Ports Þ		83,374		2,649
Kamigumi Þ		24,734		181
Macquarie Infrastructure q		36,386		816
Mapletree Logistics Trust wÞ		281,083		150
Mitsubishi Logistics Þ		61,482		741
Prologis wq		1,060,427		51,834
PS Business Parks wq		206,979		10,887
				92,516
Malls - 13.6%
General Growth Properties wq		635,929		17,431
Macerich wq		307,027		16,988
Simon Property Group wq		719,828		66,677
Taubman Centers wq		324,437		15,573
				116,669
Manufactured Homes - 0.2%
Equity Lifestyle Properties wq		36,928		1,773
Net Lease - 2.4%
Entertainment Properties Trust wq		112,276		6,023
National Retail Properties q		334,522		7,072
Realty Income wq		281,673		7,095
				20,190
Office - 17.6%
Alexandria Real Estate Equities wq		118,397		12,226
BioMed Realty Trust wq		139,466		3,598
Boston Properties wq		425,401		40,919
Brookfield Properties		769,420		14,527
Cogdell Spencer wq		199,170		3,744
Corporate Office Properties Trust wq		29,539		1,148
Digital Realty Trust wq		225,632		9,682
Douglas Emmett wq		569,641		13,404
Duke Realty wq		303,845		7,514
DuPont Fabros Technology w		4,840		79
Highwoods Properties wq		340,645		12,434
Kilroy Realty wq		115,863		5,308
Mack-Cali Realty wq		222,154		8,526
Maguire Properties wq		106,142		1,145
Parkway Properties wq		5,889		208
SL Green Realty wq		198,862		16,573
				151,035
Real Estate Service Provider - 0.0%
HFF l		55,042		275
Self Storage - 5.3%
Extra Space Storage wq		289,409		4,101
Public Storage wq		497,026		40,701
Sovran Self Storage wq		14,442		604
				45,406
Student Housing - 0.1%
Education Realty Trust w		59,047		661
Total Common Stocks
(Cost $746,508)				834,075
Investment Companies - 0.2%
Macquarie Global Infrastructure Total Return Fund q
(Cost $1,862)		69,544		1,547
Private Real Estate Company - 0.0%
Newcastle Investment Holdings l§
(Cost $153)		35,000		116
Right - 0.0%
Industrials - 0.0%
Mapletree Logistics Trust lÞ
(Cost $0)		210,812		1
Short-Term Investments - 0.2%
Money Market Fund - 0.2%
First American Prime Obligations Fund, Class Z ±
(Cost $1,594)		1,593,644		1,594
Investment Purchased with Proceeds from Securities Lending - 52.0%
Mount Vernon Securities Lending Prime Portfolio †
(Cost $445,092)		445,091,673		445,092
Total Investments - 149.8%
(Cost $1,195,209)				1,282,425
Other Assets and Liabilities, Net - (49.8)%				(426,432	)
Total Net Assets - 100.0%			$	855,993

+	Security valuations for the fund’s investments are furnished by an independent pricing service that has been approved by the fund’s board of directors. Securities for which prices are not available from an independent pricing service, but where an active market exists, are valued using market quotations obtained from one or more dealers that make markets in the securities or from a widely-used quotation system. When market quotations are not readily available, securities are valued at fair value as determined in good faith by procedures established and approved by the fund’s board of directors. Debt obligations with 60 days or less remaining until maturity may be valued at their amortized cost, which approximates market value. As of July 31, 2008, the fund held fair valued securities disclosed in footnote §.
w	Real Estate Investment Trust.  As of July 31, 2008, the market value of these investments was $791,818, or 92.5% of total net assets.
q	This security or a portion of this security is out on loan at July 31, 2008. Total loaned securities had a market value of $424,567 at July 31, 2008.
l	Non-income producing security.
Þ	Foreign denominated security values stated in U.S. dollars.
§	Security is fair-valued and illiquid.  As of July 31, 2008, the fair value of this investment was $116 or 0.0% of total net assets.  Information concerning the illiquid security is as follows:
				Dates
	Security	Shares		Acquired	Cost Basis
	Newcastle Investment Holdings	35,000		6/1998	$               153
±	Investment in affiliated security.  This money market fund is advised by FAF Advisors, Inc., which also serves as advisor to this fund.
†	In order to generate additional income, the fund may loan securities representing up to one third of the value of its total assets (which includes collateral for securities on loan) to broker-dealers, banks, or other institutional borrowers of securities. The fund maintains collateral equal to at least 100% of the value of the securities loaned. The adequacy of the collateral is monitored on a daily basis. The cash collateral received by the fund is invested in this affiliated money market fund.
u	On July 31, 2008, the cost of investments for federal income tax purposes was approximately $1,195,209.  The approximate aggregate gross unrealized appreciation and depreciation of investments, based on this cost, were as follows:
	Gross unrealized appreciation		$125,651
	Gross unrealized depreciation		(38,435	)
	Net unrealized appreciation		$  87,216
REIT - Real Estate Investment Trust

Schedule ofINVESTMENTSJuly 31, 2008 (unaudited), all dollars rounded to thousands (000)
Global Infrastructure Fund
DESCRIPTION	SHARES		VALUE+
Common Stocks - 97.1%
Argentina - 0.1%
Cia de Transporte de Energia Electrica de Alta Tension Transener l	$	55,000	$	22
Australia - 4.2%
Ausnet		97,613		104
DUET Group l		37,546		104
Macquarie Airports		93,564		247
Spark Infrastructure Group l		82,280		127
Transurban Group		66,569		323
				905
Austria - 4.1%
Flughafen Wien l		4,630		393
Oesterreichische Elektrizitaetswirtschafts, Class A l		2,500		199
Oesterreichische Post l		8,702		310
				902
Belgium - 1.4%
Elia System Operator l		7,387		299
Brazil - 3.0%
Companhia de Concessoes Rodoviarias		8,500		173
Companhia de Saneamento Basico do Estado de Sao Paulo - ADR		3,012		151
Companhia de Transmissao Energia Electrica Paulista		1,874		65
Companhia Energetica de Minas Gerais - ADR		257		6
Terna Participacoes		7,000		132
Ultrapar Participacoes - ADR		3,547		129
				656
Canada - 10.0%
Boralex, Class A l		33,147		472
Canadian Hydro Developers l		51,964		255
Enbridge		15,599		684
TransCanada l		2,000		78
TransCanada		18,051		699
				2,188
China - 0.8%
Beijing Capital International Airport, Class H		16,000		13
Dalian Port, Class H		252,000		151
Zhejiang Expressway, Class H		10,000		7
				171
Denmark - 0.4%
AP Moller - Maersk, Class B		1		12
Kobenhavns Lufthavne		200		68
				80
Finland - 1.0%
Fortum Oyj		5,000		220
France - 6.6%
Aeroports de Paris		1,140		99
Areva		150		172
Electricite de France		2,345		204
GDF SUEZ - ADR l		720		50
Societe des Autoroutes Paris-Rhin-Rhone		1,000		86
Suez		4,844		290
Veolia Environnement - ADR		3,473		186
Vinci		6,250		353
				1,440
Germany - 4.0%
E.ON		2,551		487
Eurokai KGaA		2,082		195
Hamburger Hafen und Logistik		3,050		200
				882
Great Britain - 6.5%
Centrica		23,710		147
Forth Ports		8,028		255
National Grid - ADR		5,861		388
Scottish & Southern Energy		11,992		332
Serco Group		36,566		296
				1,418
Hong Kong - 6.0%
Cheung Kong Infrastructure		15,000		66
China Everbright International		141,000		39
China Merchants Holdings International		51,851		198
China Water Affairs Group l		104,000		26
CLP Holdings		20,000		164
Guangdong Investment		948,000		367
Hutchison Whampoa - ADR		572		27
Hutchison Whampoa		10,000		93
MTR		67,040		218
NWS		53,000		113
				1,311
India - 0.6%
Gail India - GDR		1,670		88
Reliance Energy - GDR		596		49
				137
Italy - 3.9%
Atlantia		11,447		306
Enel		30,022		278
SAVE		5,638		64
Terna		51,354		213
				861
Japan - 0.9%
Japan Airport Terminal		6,750		98
Kamigumi		8,000		59
Mitsubishi Logistics		2,242		27
Park24		4,000		22
				206
Mexico - 0.5%
Empresas ICA - ADR l		5,026		106
Netherlands - 2.1%
Koninklijke Vopak		6,045		362
Smit Internationale		1,085		100
				462
New Zealand - 0.4%
Auckland International Airport		44,609		67
Infratil		11,574		18
				85
Norway - 1.0%
Hafslund, Class B		10,808		215
Portugal - 0.7%
Brisa-Auto Estradas		10,803		110
Redes Energeticas Nacionais l		9,846		43
				153
Russia - 0.4%
Novorossiysk Sea Trade Port - GDR l		4,352		59
RAO Unified Energy System of Russia - GDR l		225		18
				77
Singapore - 4.7%
Hyflux		102,000		203
Parkway Holdings		11,079		16
Singapore Airport Terminal Services		134,000		176
Singapore Post		457,000		346
SMRT		212,000		275
				1,016
Spain - 10.0%
Abertis Infraestructuras		16,905		359
Acciona		1,285		270
Cintra Concesiones de Infraestructuras de Transporte l		19,334		218
Enagas		19,823		511
Iberdrola l		40,811		554
Red Electrica de Espana		4,487		270
				2,182
Switzerland - 2.3%
ABB - ADR		10,234		268
BKW FMB Energie l		1,809		224
				492
United States - 21.5%
American Tower, Class A l		1,019		43
Aqua America		2,344		37
Covanta Holding l		1,115		31
Digital Realty Trust - REIT		757		33
Duke Energy		3,128		55
El Paso		30,263		543
Enbridge Energy Management l		3,754		193
EnergySolutions		23,182		475
Entergy		1,283		137
Exelon		7,389		581
FPL Group		5,446		351
General Cable l		2,457		142
Geo Group l		1,324		32
ITC Holdings		2,695		141
Kinder Morgan Management l		3,592		197
Macquarie Infrastructure		2,961		66
Northeast Utilities		14,553		366
ONEOK		2,972		135
Quanta Services l		3,612		112
Sempra Energy		2,002		112
Southern Union		2,559		67
Southwest Water		2,988		32
Spectra Energy		2,858		78
Williams		18,690		599
Wisconsin Energy		2,882		130
				4,688
Total Common Stocks
(Cost $22,347)				21,174
Right - 0.1%
France - 0.1%
Suez Environment Rights
(Cost $31)		4,844		35
Total Investmentsu - 97.2%
(Cost $22,378)				21,209
Other Assets and Liabilities, Net - 2.8%				605
Total Net Assets - 100.0%			$	21,814

+	The fair values of securities are determined on each business day by an independent third party based on factors such as price changes
	for futures contracts, sector indices, American Depository Receipts, and currency exchange rates that occur between the close of
	the local market and the close of the New York Stock Exchange. The use of daily fair value pricing may cause the net asset value of
	its shares to differ significantly from the net asset value that would be determined without fair value pricing.
l	Non-income producing security.
u	On July 31, 2008, the cost of investments for federal income tax purposes was approximately $22,378.  The approximate aggregate gross unrealized appreciation and depreciation of investments, based on this cost, were as follows:
	Gross unrealized appreciation	$307
	Gross unrealized depreciation	(1,476	)
	Net unrealized depreciation	$(1,169	)
	ADR - American Depository Receipt
	GDR - Global Depository Receipt
	REIT - Real Estate Investment Trust

At July 31, 2008, sector diversification of the fund was as follows:
	% of
	Net Assets			Value
Foreign Common Stock
Utilities		40.3	%	$	8,799
Industrials		38.4			8,372
Energy		16.0			3,480
Consumer Discretionary		1.8			400
Financials		0.3			64
Telecommunication Services		0.2			43
Healthcare		0.1			16
Total Foreign Common Stock		97.1			21,174
Foreign Rights		0.1			35
Total Investments		97.2			21,209
Other Assets and Liabilities, Net		2.8			605
Net Assets		100	%	$	21,814

Schedule ofINVESTMENTS July 31, 2008 (unaudited), all dollars are rounded to thousands (000)
International Fund
DESCRIPTION	SHARES		VALUE+
Common Stocks - 93.2%
Australia - 2.3%
BHP Billiton		573,276	$	21,392
Rio Tinto q		28,252		3,307
				24,699
Belgium - 0.9%
Dexia q		328,082		4,445
Fortis q		355,928		4,976
				9,421
Brazil - 1.9%
Companhia Vale do Rio Doce - ADR		345,817		10,385
Petroleo Brasileiro - ADR		182,939		10,228
				20,613
Egypt - 0.2%
Orascom Construction Industries - GDR		18,882		2,774
Finland - 1.9%
Nokia Oyj		753,155		20,555
France - 12.3%
Accor q		159,807		10,658
Axa q		465,969		13,696
BNP Paribas		163,739		16,142
Compagnie de Saint-Gobain q		111,875		6,954
Imerys q		112,227		6,717
Lafarge		100,769		13,709
Pernod-Ricard q		122,860		10,692
Sanofi-Aventis		118,404		8,311
Suez		132,090		7,902
Total		505,601		38,713
				133,494
Germany - 9.0%
Bayer		172,192		14,803
Deutsche Post		270,536		6,370
E.ON		133,763		25,556
Linde		59,373		8,248
RWE		47,500		5,677
SAP		230,777		13,345
Siemens		149,028		18,115
Symrise l		271,846		4,665
				96,779
Great Britain - 18.3%
Barclays		1,876,238		12,740
BG Group		643,728		14,548
British Land		308,116		4,262
Burberry Group		1,189,140		10,554
Centrica		868,832		5,395
GlaxoSmithKline		615,477		14,347
ICAP		1,016,269		10,026
Man Group		929,714		11,230
Morrison Supermarket		1,847,228		9,423
Royal Dutch Shell, Class A		599,239		21,250
Smith & Nephew		472,699		5,048
Standard Chartered		641,572		19,534
Tesco		2,570,964		18,262
Vodafone		9,302,966		24,921
Wolseley		686,000		4,610
WPP Group		1,213,957		11,523
				197,673
Greece - 0.7%
Piraeus Bank		257,785		7,699
Hong Kong - 4.2%
Esprit Holdings		830,200		8,834
Hang Lung Properties		1,921,000		6,119
HSBC q		1,857,200		30,562
				45,515
Isreal - 0.8%
Teva Pharmaceutical Industries - ADR		191,620		8,592
Italy - 4.0%
Banca Intesa		2,271,315		12,755
Eni		625,104		21,094
UniCredit		1,536,600		9,155
				43,004
Japan - 16.0%
Astellas Pharma		235,000		10,189
Canon		283,800		12,971
Daikin Industries		112,600		4,808
East Japan Railway		789		6,172
Honda Motor		461,100		14,720
Japan Tobacco		2,858		13,322
KOMATSU		314,300		7,805
Mitsubishi		442,400		12,891
Mitsubishi UFJ Financial Group		711,100		6,279
Mitsui Fudosan		297,000		6,719
Murata Manufacturing		222,100		9,285
Nidec		154,500		10,913
Nippon Oil		925		6
Nomura Holdings		305,400		4,407
Shin-Etsu Chemical		208,600		12,763
SMC		63,600		6,339
Sony		317,000		11,987
Sumitomo		855,200		11,544
Sumitomo Mitsui Financial Group q		1,275		9,892
				173,012
Mexico - 1.3%
America Movil, Series L - ADR		112,493		5,680
Fomento Economico Mexicano - ADR		177,587		8,144
				13,824
Netherlands - 3.4%
ING Group		416,693		13,588
Philips Electronics		268,850		8,961
Reed Elsevier q		515,997		8,547
Wolters Kluwer		237,072		5,512
				36,608
Norway - 0.5%
Norsk Hydro		460,493		5,757
South Korea - 0.8%
Samsung Electronics		15,830		8,758
Spain - 3.6%
Banco Bilbano Vizcaya Argentaria q		507,256		9,322
Industria de Diseno Textil q		204,908		9,858
Telefonica		747,377		19,393
				38,573
Switzerland - 10.3%
ABB		547,854		14,363
Adecco q		169,180		7,749
Holcim q		137,389		9,756
Nestle		579,190		25,406
Novartis		325,805		19,342
Roche		111,420		20,586
Zurich Financial Services		53,422		14,041
				111,243
Taiwan - 0.8%
Taiwan Semiconductor Manufacturing - ADR		901,793		8,567
Total Common Stocks
(Cost $828,341)				1,007,160
Right - 0.1%
France - 0.1%
Suez Environment Rights l
(Cost $843)		132,090		950
Short-Term Investments - 4.3%
Money Market Fund - 4.0%
State Street GA Prime Fund		44,012,749		44,013
U.S. Treasury Obligation - 0.3%	PAR
U.S. Treasury Bill
1.778%, 12/18/2008 £	$	3,000		2,979
Total Short-Term Investments
(Cost $46,992)				46,992
Investment Purchased with Proceeds from Securities Lending - 7.8%	SHARES
State Street Navigator Prime Fund †
(Cost $84,088)		84,088,241		84,088
Total Investments u - 105.4%
(Cost $960,264)				1,139,190
Other Assets and Liabilities, Net - (5.4)%				(58,705	)
Total Net Assets - 100.0%			$	1,080,485

+	The fair values of securities are determined on each business day by an independent third party based on factors such as price changes for futures contracts, sector indices, American Depository Receipts, and currency exchange rates that occur between the close of the local market and the close of the New York Stock Exchange.  The use of daily fair value pricing may cause the net asset value of its shares to differ significantly from the net asset value that would be determined without fair value pricing.
q	This security or a portion of this security is out on loan at July 31, 2008. Total loaned securities had a market value of $79,937 at July 31, 2008.
l	Non-income producing security.
£	Security has been deposited as initial margin on open futures contracts.  Yield shown is the effective yield as of July 31,2008.
†	In order to generate additional income, the fund may loan securities representing up to one third of the value of its total assets (which includes collateral for securities on loan) to broker-dealers, banks, or other institutional borrowers of securities. The fund maintains collateral equal to at least 100% of the value of the securities loaned. The adequacy of the collateral is monitored on a daily basis. The cash collateral received by the fund is invested as noted in the schedule above.
u	On July 31, 2008, the cost of investments for federal income tax purposes was approximately $960,264.  The approximate aggregate gross unrealized appreciation and depreciation of investments, based on this cost, were as follows:

	Gross unrealized appreciation		$242,999
	Gross unrealized depreciation		(64,073	)
	Net unrealized appreciation		$178,926
ADR -	American Depository Receipt
GDR -	Global Depository Receipt
	Schedule of Open Futures Contracts
		Number of		Notional
		Contracts		Contract	Settlement	Unrealized
	Description	Purchased		Value	Month	Depreciation
	Russell 2000 Futures	28		$        10,017	September 2008	$               (21	)
	S&P TSE 60 Futures	62		9,848	September 2008	(149	)
	SPI 200 Futures	212		24,843	September 2008	(963	)
						$        (1,133	)

At July 31, 2008, sector diversification of the fund was as follows:
	% of
	Net Assets			Value
Foreign Common Stock
Financials	$	21.1	%	$	227,589
Energy		10.8			116,991
Industrials		10.2			110,494
Consumer Discretionary		9.8			105,819
Materials		9.4			101,080
Healthcare		8.0			86,415
Consumer Staples		7.9			85,249
Information Technology		7.8			84,394
Telecommunication Services		4.6			49,994
Utilities		3.6			39,135
Total Foreign Common Stock		93.2			1,007,160
Total Right		0.1			950
Total Short-Term Investments		4.3			46,992
Total Investment Purchased with  Proceeds from Securities Lending		7.8			84,088
Total Investments		105.4			1,139,190
Other Assets and Liabilities, Net		(5.4	)		(58,705	)
Net Assets		100	%	$	1,080,485

Schedule ofINVESTMENTSJuly 31, 2008 (unaudited), all dollars are rounded to thousands (000)
International Select Fund
DESCRIPTION	SHARES		VALUE+
Common Stocks - 81.1%
Argentina - 0.5%
Tenaris - ADR		27,000	$	1,627
Australia - 2.0%
BHP Billiton		62,171		2,320
National Australia Bank		29,600		679
Rio Tinto		18,897		2,212
Woodside Petroleum		22,958		1,153
				6,364
Austria - 0.5%
Erste Bank der Oesterreichischen Sparkassen q		26,706		1,703
Bahrain - 0.1%
Investcorp Bank - ADR l		12,300		320
Brazil - 4.7%
AES Tiete		56,714		668
Banco do Brasil		76,200		1,221
Banco Itau Holding Financeira - ADR q		65,178		1,388
Cia Vale do Rio Doce		31,300		816
Companhia de Concessoes Rodoviarias		29,000		590
Companhia Energetica De Minas l		13,897		330
Companhia Vale do Rio Doce - ADR		74,217		2,229
Empresa Brasileira de Aeronautica - ADR q		21,900		669
Iochpe Maxion l		23,317		514
JHSF Participacoes l		136,100		600
Klabin		173,500		596
Petroleo Brasileiro - ADR		35,564		1,988
Redecard		81,330		1,516
Souza Cruz		30,799		868
Suzano Papel e Celulose		47,610		710
Tam - ADR q		34,100		690
				15,393
Canada - 2.5%
Cameco		65,302		2,346
First Quantum Minerals		6,500		447
Manulife Financial		52,200		1,923
Patheon l		79,760		326
Rogers Communications - Class B q		33,821		1,142
Suncor Energy		36,763		2,004
				8,188
China - 1.4%
China Communications Construction		586,000		1,092
China Merchants Bank		314,000		1,131
Focus Media Holdings - ADR ql		62,873		1,868
Shougang Concord International Enterprises		1,134,000		373
				4,464
Denmark - 0.8%
Vestas Wind System l		20,680		2,697
Egypt - 0.7%
Eastern Tobacco		8,765		524
Mobinil		20,165		567
Orascom Construction Industries l		8,811		641
Orascom Telecom Holdings l		36,907		395
				2,127
Finland - 0.5%
Nokia Oyj		52,501		1,433
France - 6.3%
Alcatel-Lucent - ADR q		151,260		909
BNP Paribas		7,800		769
Carrefour		46,994		2,400
Electricite de France		17,963		1,561
Groupe DANONE		15,452		1,146
Iliad q		22,821		2,515
L'oreal q		12,478		1,307
LVMH Moet Hennessy Louis Vuitton q		11,525		1,268
Sanofi-Aventis q		26,000		1,825
Thales		13,080		740
Total q		34,920		2,674
Vivendi Universal		81,140		3,392
				20,506
Germany - 5.5%
Adidas q		28,183		1,723
Allianz		8,292		1,411
BASF		9,480		604
Deutsche Boerse		12,599		1,426
Deutsche Telekom		62,610		1,084
E.ON		7,639		1,460
Henkel KGAA		43,451		1,732
Metro		18,790		1,059
Q-Cells l		12,155		1,175
SAP		25,140		1,454
SAP - ADR q		29,552		1,708
Siemens		7,611		925
Symrise l		59,301		1,018
Wacker Chemie		6,038		1,248
				18,027
Great Britain - 10.5%
Arm Holdings		711,903		1,343
Autonomy l		114,903		2,421
BAE Systems		93,780		832
Benfield Group q		219,248		1,051
BP - ADR q		36,420		2,238
British Sky Broadcasting Group		135,255		1,212
Cadbury		113,778		1,344
Dawnay Day Treveria l		695,980		336
Diageo		112,030		1,952
Experian Group		267,536		2,069
GlaxoSmithKline		112,870		2,631
ICAP		130,186		1,284
Kingfisher		281,430		654
Michael Page International		276,821		1,411
Prudential		187,970		2,013
Scottish & Southern Energy		39,653		1,098
Smith & Nephew		113,912		1,216
Standard Chartered		25,110		765
Tesco		154,407		1,097
Vedanta Resources		30,062		1,189
Vodafone Group - ADR		85,790		2,302
Wellstream Holdings l		70,708		1,670
WPP Group		226,510		2,150
				34,278
Greece - 0.5%
National Bank of Greece - ADR q		170,246		1,600
Hong Kong - 2.2%
Agile Property		1,834,000		1,708
Cheung Kong Holdings		49,510		693
Esprit Holdings		228,400		2,430
Foxconn International Holdings l		1,290,000		1,223
Li & Fung		344,000		1,162
				7,216
Hungary - 0.2%
OTP Bank		11,431		529
India - 2.3%
Grasim Industries - ADR l		9,100		388
HDFC Bank - ADR q		15,321		1,198
Hero Honda		34,922		655
Infosys Technologies - ADR q		37,669		1,484
Oil & Natural Gas		75,962		1,764
Punjab National Bank		53,690		563
Satyam Computer Services - ADR q		48,000		1,024
State Bank Of India - ADR		7,532		493
				7,569
Indonesia - 1.0%
Astra International		462,000		1,134
Bank Mandiri Persero		2,819,500		911
Telekomunikasi Indonesia - ADR		39,400		1,299
United Tractors		24,000		30
				3,374
Israel - 1.1%
Bank Hapoalim B.M.		260,192		1,078
Delek Automotive Systems		21,000		311
Icl-Israel Chem		45,683		845
Teva Pharmaceutical Industries - ADR q		32,794		1,471
				3,705
Italy - 2.4%
Alleanza Assicurazioni		112,790		1,098
Ansaldo STS l		88,360		1,313
Arnoldo Mondadori Editore q		127,320		765
Eni		35,390		1,194
Saipem		41,278		1,596
Telecom Italia		1,052,960		1,422
UniCredit		71,802		428
				7,816
Japan - 10.6%
Bank of Yokohama		138,421		893
Daiwa Securities Group		85,310		739
DENSO		43,400		1,128
FANUC		13,600		1,080
Fuji Television Network		655		904
The Joyo Bank q		342,734		1,607
KEYENCE		2,479		542
Kose		68,983		1,683
Mid REIT ql		210		584
Mitsubishi UFJ Financial Group		75,910		670
Mitsui Sumitomo Insurance Group l		60,946		2,020
Mitsui-Soko q		136,841		685
New City Residence Investment		114		205
NGK Insulators		79,000		1,149
Nintendo		3,700		1,795
Nippon Commercial Investment l		158		439
Nippon Residential q		120		342
Nipponkoa Insurance		289,580		2,324
Nitto Denko		2,200		63
Nomura Holdings		56,778		819
Nomura Research Institute		65,080		1,460
ORIX		10,610		1,606
Seven & I Holdings		42,741		1,307
Shin-Etsu Chemical		22,900		1,401
SMC		16,609		1,655
Sugi Pharmacy		52,699		1,495
Sumitomo Bakelite q		226,401		1,171
Sumitomo Trust & Banking		232,878		1,604
Suzuki Motor q		43,202		944
THK q		34,482		615
United Urban Investment		81		354
Yamada Denki		19,400		1,315
				34,598
Luxembourg - 0.5%
Millicom International Cellular - ADR l		21,378		1,654
Malaysia - 0.4%
British American Tobacco Malaysia Berhad		51,700		642
Plus Expressways		475,100		421
Sime Darby Berhad		103,751		250
				1,313
Mexico - 1.4%
Cemex - ADR ql		23,509		500
Desarrolladora Homex - ADR  ql		15,900		889
Fomento Economico Mexicano - ADR		14,300		656
Grupo Televisa - ADR q		32,432		729
Kimberly-Clark de Mexico		146,700		632
Wal Mart de Mexico - ADR		28,211		1,148
				4,554
Netherlands - 2.0%
Heineken q		53,014		2,463
ING Group q		23,336		761
Koninklijke Philips Electronics - ADR		39,269		1,307
Philips Electronics		24,470		816
Unilever NV CVA		46,250		1,275
				6,622
Norway - 0.9%
Renewable Energy ql		55,920		1,620
Statoil		35,227		1,141
				2,761
Pakistan - 0.0%
Pakistan Petroleum		6,000		18
Philippines - 0.5%
Philippine Long Distance Telephone - ADR q		25,500		1,450
Portugal - 0.3%
Energias de Portugal		189,950		1,039
Russia - 1.6%
Eurasia Drilling - GDR l		20,200		414
Evraz Group - ADR		6,400		614
Gazprom - ADR		27,232		1,293
Mobile Telesystems - ADR l		18,300		1,307
Oriflame Cosmetics l		13,205		855
TNK-BP Holdings l		243,052		458
Vsmpo-Avisma		1,666		232
				5,173
Singapore - 1.1%
Cosco - ADR q		44,500		498
DBS Group Holdings		50,210		698
Keppel		163,000		1,258
Keppel Land q		332,000		1,176
				3,630
South Africa - 3.6%
Aquarius Platinum		74,884		735
Eqstra Holdings l		5,298		8
Gold Fields - ADR q		69,342		819
Imperial Holdings l		63,498		378
Kumba Iron Ore l		38,563		1,336
Massmart Holdings		78,270		795
MTN Group		93,594		1,602
Murray & Roberts Holdings		50,537		656
Naspers		29,291		710
Nedbank Group		81,173		1,142
Pretoria Portland Cement		241,841		1,111
Sanlam l		325,092		775
Steinhoff International Holdings		286,710		619
Truworths International		292,067		1,152
				11,838
South Korea - 3.8%
AmorePacific		712		450
GS Engineering & Construction		5,466		541
Hite Brewery		2,499		457
Hite Holdings		3,154		142
Kookmin Bank - ADR ql		58,867		3,375
Samsung Electronics		1,810		1,001
Samsung Electronics - GDR		11,670		3,252
Samsung Electronics - GDR		47		13
Samsung Electronics - GDR q		600		111
Shinhan Financial Group - ADR ql		17,900		1,672
Woongjin Coway		39,340		1,236
				12,250
Spain - 1.6%
Banco Bilbano Vizcaya Argentaria		86,646		1,592
Banco Santander Central Hispano q		102,619		1,998
Telefonica		67,404		1,749
				5,339
Sweden - 0.7%
Ericsson q		181,578		1,905
Nordea Bank		32,730		464
				2,369
Switzerland - 4.0%
ABB		52,293		1,371
Credit Suisse Group		32,339		1,615
Nestle		71,516		3,137
Nobel Biocare		40,715		1,252
Novartis		40,741		2,419
Roche		11,201		2,069
Syngenta		4,153		1,209
				13,072
Taiwan - 0.8%
Advanced Semiconductor		492,000		423
Advantech		152,310		328
Hon Hai Precision Industry		158,000		764
Novatek Microelectronics		12,001		27
Taiwan Semiconductor Manufacturing		503,812		910
				2,452
Thailand - 0.2%
Bangkok Bank		169,146		557
Turkey - 1.1%
Ford Otomotiv Sanayi l		49,670		421
Turkcell Iletisim Hizmet - ADR q		97,300		1,878
Turkiye Is Bankasi l		301,745		1,389
				3,688
United States - 0.3%
Dr. Pepper Snapple Group ql		16,665		344
Philip Morris International		10,700		553
				897
Total Common Stocks
(Cost $280,546)				264,210
Exchange-Traded Funds - 1.4%
iShares MSCI EAFE Index Fund q		4,059		269
iShares MSCI Emerging Markets Index Fund q		2,635		112
Market Vectors Russia Fund		46,000		2,090
PowerShares MENA Frontier Countries Portfolio l		94,000		2,309
Total Exchange-Traded Funds
(Cost $5,107)				4,780
Preferred Stock - 0.0%
Brazil - 0.0%
Companhia Vale do Rio Doce - ADR
(Cost $24)		597		16
Short-Term Investments - 17.3%
Money Market Fund - 16.3%
State Street GA Prime Fund		53,258,948		53,259
U.S. Treasury Obligation - 1.0%
U.S. Treasury Bill	PAR
1.778%, 12/18/2008 £	$	3,150		3,128
Total Short-Term Investments
(Cost $56,383)				56,387
Investment Purchased with Proceeds from Securities Lending - 15.0%
State Street Navigator Prime Fund †	SHARES
(Cost $48,856)		48,855,898		48,856
Total Investments u - 114.8%
(Cost $390,916)				374,249
Other Assets and Liabilities, Net - (14.8)%				(48,372	)
Total Net Assets - 100.0%			$	325,877

+	The fair values of securities are determined on each business day by an independent third party based on factors such as price changes for futures contracts, sector indicies, American Depository Receipts, and currency exchange rates that occur between the close of the local market and the close of the New York Stock Exchange.  The use of daily fair value pricing may cause the net asset value of its shares to differ significantly from the net asset value that would be determined without fair value pricing.
q	This security or a portion of this security is out on loan at July 31, 2008.  Total loaned securities had a market value of $46,630 at July 31, 2008.
l	Non-income producing security.
£	Security has been deposited as initial margin on open futures contracts. Yield shown is the effective yield as of July 31, 2008.
†	In order to generate additional income, the fund may loan securities representing up to one third of the value of its total assets (which includes collateral for securities on loan) to broker-dealers, banks, or other institutional borrowers of securities. The fund maintains collateral equal to at least 100% of the value of the securities loaned. The adequacy of the collateral is monitored on a daily basis. The cash collateral received by the fund is invested as noted in the schedule above.
u	On July 31, 2008, the cost of investments for federal income tax purposes was approximately $390,916.  The approximate aggregate gross unrealized appreciation and depreciation of investments, based on this cost, were as follows:
	Gross unrealized appreciation	$19,937
	Gross unrealized depreciation	(36,604	)
	Net unrealized depreciation	$(16,667	)
	ADR - American Depository Receipt
	GDR - Global Depository Receipt
	Schedule of Open Futures Contracts
		Number of			Notional			Unrealized
		Contracts			Contract		Settlement	Appreciation
	Description	Purchased (Sold)			Value		Month	(Depreciation)
	E-Mini MSCI Emerging Markets Index Futures	(143	)	$	(7,281	)	September 2008	$                  204
	FTSE  JSE Top 40 Index Futures	30			1,059		September 2008	12
	S&P TSE 60 Futures	222			35,262		September 2008	(3,085	)
	SPI 200 Futures	18			2,109		September 2008	28
								$           (2,841	)
	At July 31, 2008, sector diversification of the fund was as follows:
					% of
					Net Assets			Value
	Foreign Common Stocks
	Financials				18.3%			$            59,747
	Consumer Discretionary				9.9			32,290
	Consumer Staples				9.7			31,461
	Information Technology				8.8			28,666
	Materials				8.0			26,089
	Industrials				7.9			25,570
	Energy				6.3			20,658
	Telecommunication Services				6.3			20,366
	Healthcare				4.0			13,208
	Utilities				1.9			6,155
	Total Foreign Common Stocks				81.1			264,210
	Total Exchange-Traded Funds				1.4			4,780
	Total Foreign Preferred Stock				0.0			16
	Total Short-Term Investments				17.3			56,387
	Total Investment Purchased with Proceeds from Securities Lending				15.0			48,856
	Total Investments				114.8			374,249
	Other Assets and Liabilities, Net				(14.8	)		(48,372	)
	Net Assets				100.0	%		$        325,877

Schedule ofINVESTMENTS July 31, 2008 (unaudited), all dollars are rounded to thousands (000)
Small Cap Growth Opportunities Fund
DESCRIPTION	SHARES		VALUE+
Common Stocks - 98.3%
Consumer Discretionary - 14.8%
Aeropostale ql		74,193	$	2,393
Deckers Outdoor ql		28,695		3,243
Dick's Sporting Goods l		132,677		2,328
Einstein Noah Restaurant Group ql		210,459		2,427
Fossil ql		114,944		3,078
Gymboree l		82,902		3,101
Iconix Brand Group ql		228,700		2,744
Skechers U.S.A., Class A ql		151,677		2,867
Texas Roadhouse, Class A ql		311,107		2,887
Warnaco Group ql		82,918		3,478
WMS Industries ql		104,290		2,939
Wolverine World Wide q		120,742		3,227
				34,712
Consumer Staples - 1.6%
Nu Skin Enterprises, Class A q		229,822		3,714
Energy - 10.8%
Arena Resources l		52,336		2,141
Cano Petroleum l		356,948		1,410
Carrizo Oil & Gas ql		50,659		2,550
Concho Resources l		93,713		3,069
Dril-Quip l		41,317		2,237
Global Industries ql		221,088		2,640
Oil States International ql		53,083		2,913
Parallel Petroleum ql		211,751		3,468
Penn Virginia q		34,400		2,090
Superior Energy Services ql		57,237		2,715
				25,233
Financials - 6.0%
American Campus Communities - REIT q		80,500		2,357
BioMed Realty Trust - REIT q		91,541		2,362
Boston Private Financial Holdings q		272,817		2,136
East West Bancorp q		152,493		1,816
Investment Technology Group l		104,299		3,102
KBW ql		89,527		2,365
				14,138
Healthcare - 23.1%
AMN Healthcare Services ql		166,183		3,141
Array BioPharma ql		354,386		2,768
ArthroCare ql		80,290		1,697
BioMarin Pharmaceutical ql		98,061		3,192
Durect ql		501,341		2,226
Eurand ql		165,552		3,044
Hologic ql		139,164		2,570
Immucor ql		88,570		2,669
Integra LifeSciences ql		62,064		2,834
NuVasive ql		73,994		4,156
Onyx Pharmaceuticals ql		69,158		2,801
OSI Pharmaceuticals ql		39,351		2,071
Pediatrix Medical Group ql		65,798		3,201
Regeneron Pharmaceuticals ql		97,513		2,135
RTI Biologics ql		334,832		2,776
Skilled Healthcare Group, Class A ql		263,720		3,853
TranS1 ql		182,502		1,690
United Therapeutics ql		25,171		2,854
Wright Medical Group ql		144,613		4,554
				54,232
Industrials - 13.8%
Advisory Board ql		86,156		3,304
AMETEK		49,586		2,373
Curtiss-Wright q		64,931		3,418
EnergySolutions		67,762		1,390
ESCO Technologies ql		90,709		3,733
Evergreen Solar ql		195,966		1,830
Forward Air		80,225		2,935
HEICO q		53,397		1,859
Old Dominion Freight Line ql		112,941		4,145
RBC Bearings ql		87,845		2,923
Tennant		77,015		2,026
Watson Wyatt Worldwide, Class A		40,778		2,363
				32,299
Information Technology - 25.8%
ADTRAN q		152,523		3,411
ATMI ql		108,643		2,448
Belden q		94,994		3,507
Ciena ql		120,505		2,491
Commvault Systems ql		248,265		3,781
comScore l		134,172		2,560
DealerTrack Holdings ql		212,767		3,315
Forrester Research ql		71,820		2,420
Intersil, Class A q		136,912		3,304
Lawson Software ql		473,224		3,838
MICROS Systems ql		135,394		4,289
Omniture l		127,737		2,216
Plantronics q		168,839		4,111
Polycom ql		317,455		7,492
Quest Software ql		369,933		5,590
Varian Semiconductor Equipment Associates l		47,747		1,395
Verigy ql		197,620		4,393
VideoPropulsion l§		780,460		—
				60,561
Materials - 2.4%
GrafTech International ql		97,710		2,291
Terra Industries q		59,721		3,225
				5,516
Total Common Stocks
(Cost $230,207)				230,405
Warrants - 0.0%
Hollis-Eden Pharmaceuticals, Warrants l§		70,545		—
Kuhlman Company, Warrants l§		281,680		—
Lantronix, Warrants l§		11,236		—
Total Warrants
(Cost $434)				—
Short-Term Investment - 1.6%
First American Prime Obligations Fund, Class Z ±
(Cost $3,875)		3,875,079		3,875
Investment Purchased with Proceeds from Securities Lending - 48.4%
Mount Vernon Securities Lending Prime Portfolio †
(Cost $113,396)		113,396,289		113,396
Total Investments u - 148.3%
(Cost $347,912)				347,676
Other Assets and Liabilities, Net - (48.3)%				(113,231	)
Total Net Assets - 100.0%			$	234,445

+	Security valuations for the fund’s investments are furnished by an independent pricing service that has been approved by the fund’s
	board of directors. Securities for which prices are not available from an independent pricing service, but where an active market exists,
	are valued using market quotations obtained from one or more dealers that make markets in the securities or from a widely-used quotation
	system. When market quotations are not readily available, securities are valued at fair value as determined in good faith by procedures
	established and approved by the fund’s board of directors. Debt obligations with 60 days or less remaining until maturity may be valued at
	their amortized cost, which approximates market value. As of July 31, 2008 the fund held fair valued securities disclosed in footnote §.
q	This security or a portion of this security is out on loan at July 31, 2008.  Total loaned securities had a market value of $108,389 at July 31, 2008.
l	Non-income producing security.
§	Security is fair-valued and illiquid.  As of July 31, 2008, the fair value of these investments was $0 or 0.0% of total net assets.  Information concerning the illiquid securities is as follows:
				Dates
	Security	Shares		Acquired	Cost Basis
	Hollis-Eden Pharmaceuticals, Warrants	70,545		2/06	161
	Kuhlman Company, Warrants	281,680		1/06	273
	Lantronix, Warrants	11,236		5/08	—
	VideoPropulsion	780,460		12/99	—
±	Investment in affiliated security.  This money market fund is advised by FAF Advisors, Inc., which also serves as advisor to this fund.
†	In order to generate additional income, the fund may loan securities representing up to one third of the value of its total assets (which includes collateral for securities on loan) to broker-dealers, banks, or other institutional borrowers of securities. The fund maintains collateral equal to at least 100% of the value of the securities loaned. The adequacy of the collateral is monitored on a daily basis. The cash collateral received by the fund is invested in this affiliated money market fund.
u	On July 31, 2008, the cost of investments for federal income tax purposes was approximately $347,912.  The approximate aggregate gross unrealized appreciation and depreciation of investments, based on this cost, were as follows:
	Gross unrealized appreciation	$19,798
	Gross unrealized depreciation	(20,034	)
	Net unrealized depreciation	$(236	)
	REIT - Real Estate Investment Trust

Schedule ofINVESTMENTSJuly 31, 2008 (unaudited), all dollars are rounded to thousands (000)
Small Cap Select Fund
DESCRIPTION	SHARES		VALUE+
Common Stocks - 96.0%
Consumer Discretionary - 15.5%
1-800-Flowers.com, Class A ql	$	1,285,396	$	7,083
Aeropostale ql		135,039		4,355
Amerigon ql		226,387		1,499
ATC Technology ql		359,833		9,039
Christopher & Banks q		759,009		6,603
Coinstar ql		353,863		12,205
Cooper Tire & Rubber q		732,212		6,744
FGX International Holdings Limited l		214,596		2,489
Fossil ql		219,380		5,875
Interface, Class A q		626,955		7,429
McCormick & Schmick's Seafood Restaurants ql		303,998		2,465
P.F. Chang's China Bistro ql		341,181		8,871
Scientific Games, Class A ql		116,006		3,520
Skechers U.S.A., Class A ql		436,479		8,249
Texas Roadhouse, Class A ql		851,748		7,904
Tween Brands ql		47,708		657
VistaPrint ql		48,732		1,256
WMS Industries ql		300,333		8,463
				104,706
Consumer Staples - 3.7%
Chattem ql		83,556		5,387
Hain Celestial Group ql		474,397		12,401
Ralcorp Holdings ql		128,406		6,929
				24,717
Energy - 6.7%
Cal Dive International ql		304,069		3,256
Comstock Resources ql		45,956		2,804
Edge Petroleum ql		930,282		4,782
Global Industries ql		428,785		5,120
Oceaneering International l		66,765		4,049
Patterson-UTI Energy q		330,758		9,400
Penn Virginia q		56,066		3,406
Petroleum Development ql		25,428		1,406
TETRA Technologies ql		564,499		10,686
				44,909
Financials - 16.0%
Affiliated Managers Group ql		117,063		10,114
Astoria Financial q		513,769		11,493
Bank of the Ozarks q		347,485		7,123
BioMed Realty Trust - REIT q		331,237		8,546
Columbia Banking System q		44,749		676
Cullen/Frost Bankers q		92,996		4,905
Delphi Financial Group, Class A q		294,180		7,340
Digital Realty Trust - REIT q		189,628		8,137
Dime Community Bancshares q		543,707		9,096
East West Bancorp q		618,579		7,367
Independent Bank q		202,788		5,305
Kite Realty Group Trust - REIT		241,324		2,997
Knight Capital Group, Class A ql		619,145		10,148
LaSalle Hotel Properties - REIT q		170,308		3,868
Platinum Underwriters Holdings q		206,673		7,461
Umpqua Holdings q		238,086		3,233
				107,809
Healthcare - 14.3%
Arena Pharmaceuticals ql		408,905		2,772
Array BioPharma ql		496,992		3,881
BioMarin Pharmaceutical ql		159,601		5,195
Dexcom ql		827,796		5,563
eResearchTechnology ql		300,312		4,373
Exelixis ql		539,011		3,773
Hologic ql		104,405		1,928
ICU Medical ql		306,217		8,706
Immucor ql		255,648		7,703
K-V Pharmaceutical, Class A ql		718,258		14,717
Magellan Health Services ql		75,166		3,138
Myriad Genetics ql		38,584		2,566
OSI Pharmaceuticals ql		76,445		4,023
Pediatrix Medical Group ql		136,776		6,654
Senomyx ql		561,947		2,849
SonoSite ql		390,140		12,781
Thoratec l		106,478		1,998
TranS1 ql		376,413		3,486
				96,106
Industrials - 15.8%
Advisory Board ql		314,130		12,047
AMETEK		153,635		7,353
BE Aerospace l		327,830		8,419
CBIZ ql		414,356		3,394
Columbus McKinnon ql		75,343		1,937
Con-way q		198,943		10,058
ESCO Technologies ql		332,569		13,685
Forward Air q		106,113		3,883
Interline Brands ql		324,286		5,120
Knight Transportation q		160,612		3,039
MasTec ql		631,836		9,067
Nordson q		82,075		5,799
Old Dominion Freight Line ql		192,661		7,071
RBC Bearings ql		208,204		6,927
Regal-Beloit q		69,122		2,886
Waste Connections ql		149,526		5,441
				106,126
Information Technology - 18.6%
ADC Telecommunications ql		672,414		6,361
Advanced Analogic Technologies ql		1,926,156		7,955
Bankrate ql		133,557		4,200
Cognex q		106,079		2,000
DealerTrack Holdings ql		317,743		4,951
Digital River ql		140,416		5,601
Emulex ql		600,924		6,772
F5 Networks ql		230,438		6,717
Foundry Networks ql		288,961		5,040
Greenfield Online ql		225,577		3,122
Omniture ql		375,382		6,513
Photronics ql		750,611		3,190
Plexus ql		82,592		2,354
Polycom ql		433,846		10,239
Power Integrations ql		232,700		6,357
Progress Software ql		372,380		10,959
Silicon Laboratories ql		263,216		8,610
Synaptics ql		125,867		6,069
Tessera Technologies ql		547,972		9,546
TTM Technologies ql		451,573		5,080
Vasco Data Security International l		145,113		1,985
Veeco Instruments ql		84,011		1,368
				124,989
Materials - 3.9%
Albemarle		231,411		9,009
AptarGroup q		134,966		5,223
Flotek Industries ql		880		16
Schnitzer Steel Industries, Class A		29,483		2,660
Terra Industries q		172,863		9,335
				26,243
Telecommunication Services - 0.8%
Cogent Communications Group ql		255,918		3,086
General Communication, Class A ql		260,423		2,336
				5,422
Utilities - 0.7%
NSTAR q		142,731		4,548
Total Common Stocks
(Cost $673,572)				645,575
Warrants - 0.0%
Lantronix, Warrants l§
(Cost $0)		5,143		—
Short-Term Investment - 3.4%
First American Prime Obligations Fund, Class Z ±
(Cost $23,091)		23,091,440		23,091
Investment Purchased with Proceeds from Securities Lending - 48.2%
Mount Vernon Securities Lending Prime Portfolio †
(Cost $323,866)		323,865,543		323,866
Total Investments u - 147.6%
(Cost $1,020,529)				992,532
Other Assets and Liabilities, Net - (47.6)%				(320,201	)
Total Net Assets - 100.0%			$	672,331

+	Security valuations for the fund’s investments are furnished by an independent pricing service that has been approved by the fund’s
	board of directors. Securities for which prices are not available from an independent pricing service, but where an active market exists,
	are valued using market quotations obtained from one or more dealers that make markets in the securities or from a widely-used quotation
	system. When market quotations are not readily available, securities are valued at fair value as determined in good faith by procedures
	established and approved by the fund’s board of directors. Debt obligations with 60 days or less remaining until maturity may be valued at
	their amortized cost, which approximates market value. As of July 31, 2008 the fund held fair valued securities disclosed in footnote §.
q	This security or a portion of this security is out on loan at July 31, 2008.  Total loaned securities had a market value of $308,284 at July 31, 2008.
l	Non-income producing security.
§	Security is fair-valued and illiquid.  As of July 31, 2008, the fair value of this investment was $0 or 0.0% of total net assets.  Information concerning the illiquid security is as follows:
				Dates
	Security	Shares		Acquired	Cost Basis
	Lantronix, Warrants	5,143		6/08	—
±	Investment in affiliated security.  This money market fund is advised by FAF Advisors, Inc., which also serves as advisor to this fund.
†	In order to generate additional income, the fund may loan securities representing up to one third of the value of its total assets (which includes collateral for securities on loan) to broker-dealers, banks, or other institutional borrowers of securities. The fund maintains collateral equal to at least 100% of the value of the securities loaned. The adequacy of the collateral is monitored on a daily basis. The cash collateral received by the fund is invested in this affiliated money market fund.
u	On July 31, 2008, the cost of investments for federal income tax purposes was approximately $1,020,529.  The approximate aggregate gross unrealized appreciation and depreciation of investments, based on this cost, were as follows:
	Gross unrealized appreciation	$57,729
	Gross unrealized depreciation	(85,726	)
	Net unrealized depreciation	$(27,997	)
	REIT - Real Estate Investment Trust

Schedule of INVESTMENTSJuly 31, 2008 (unaudited), all dollars are rounded to thousands (000)
First American Small Cap Value
DESCRIPTION	SHARES		VALUE+
Common Stocks - 98.7%
Consumer Discretionary - 12.9%
Aaron Rents q		148,490	$	4,079
Ameristar Casinos q		95,476		1,257
Belo, Class A q		229,311		1,557
CBRL Group q		52,692		1,274
Charlotte Russe Holding ql		206,431		2,675
Domino's Pizza ql		223,200		2,893
Ethan Allen Interiors q		129,482		3,250
Group 1 Automotive q		116,855		2,296
Interface, Class A q		202,959		2,405
Jack in the Box ql		114,189		2,464
Lear l		84,572		1,219
Skechers U.S.A., Class A ql		153,905		2,909
Wolverine World Wide q		151,017		4,037
				32,315
Consumer Staples - 3.4%
Nu Skin Enterprises, Class A q		201,947		3,263
Ralcorp Holdings ql		46,737		2,522
Spartan Stores q		118,436		2,818
				8,603
Energy - 5.6%
Complete Production Services ql		23,518		749
Dril-Quip l		17,445		944
Global Industries ql		161,201		1,925
Oil States International ql		61,885		3,396
Penn Virginia q		36,966		2,246
PetroQuest Energy ql		109,803		2,292
Swift Energy ql		50,005		2,541
				14,093
Financials - 31.2%
Alexandria Real Estate Equities - REIT q		24,168		2,496
American Equity Investment Life Holding q		289,124		2,527
Aspen Insurance Holdings q		123,287		3,130
Astoria Financial q		133,942		2,996
Bank of the Ozarks q		148,417		3,043
Cathay General Bancorp q		146,153		2,330
Delphi Financial Group, Class A q		176,147		4,395
First Midwest Bancorp q		141,004		2,895
FPIC Insurance Group ql		63,395		3,167
Highwoods Properties - REIT q		82,243		3,002
IBERIABANK q		81,610		4,201
Independent Bank q		130,366		3,410
Knight Capital Group, Class A ql		176,822		2,898
LaSalle Hotel Properties - REIT q		88,771		2,016
MFA Mortgage Investments - REIT		544,650		3,513
Mid-America Apartment Communities - REIT q		45,295		2,603
National Retail Properties - REIT q		180,375		3,813
optionsXpress Holdings q		66,217		1,643
Pinnacle Financial Partners ql		116,610		2,940
PS Business Parks - REIT q		43,677		2,297
Selective Insurance Group q		152,175		3,287
Sterling Bancshares q		401,778		3,905
Stifel Financial ql		71,791		3,023
TCF Financial q		96,672		1,233
Texas Capital Bancshares ql		199,786		3,226
Waddell & Reed Financial, Class A		36,353		1,214
WSFS Financial		59,587		3,244
				78,447
Healthcare - 7.9%
Greatbatch ql		125,170		2,561
Healthspring l		150,509		2,927
Pediatrix Medical Group ql		39,918		1,942
Res-Care l		162,866		2,990
Sciele Pharma q		206,750		3,856
STERIS q		63,259		2,162
Varian ql		30,479		1,506
Vital Signs		26,770		1,958
				19,902
Industrials - 11.8%
Apogee Enterprises q		68,987		1,192
Brady, Class A q		72,530		2,660
Con-way q		58,148		2,940
CRA International l		62,462		2,351
Crane		97,248		3,452
Deluxe q		69,434		993
EMCOR Group ql		106,017		3,193
ESCO Technologies l		15,347		632
Heartland Express q		74,850		1,275
Nordson q		47,869		3,382
Regal-Beloit		46,725		1,951
SkyWest		81,236		1,236
Triumph Group q		38,186		2,022
URS l		57,362		2,405
				29,684
Information Technology - 14.2%
Amkor Technology ql		113,443		994
CACI International, Class A ql		69,219		3,112
Emulex ql		195,618		2,205
Epicor Software ql		222,850		1,506
Ixia ql		421,772		3,695
Macrovision Solutions ql		112,505		1,710
Pericom Semiconductor l		87,062		1,242
Perot Systems, Class A ql		78,967		1,320
Plantronics q		114,953		2,799
Polycom ql		137,904		3,255
Progress Software ql		136,113		4,006
Silicon Motion Technology - ADR ql		121,956		902
TIBCO Software ql		91,563		752
TriQuint Semiconductor ql		396,668		2,233
TTM Technologies ql		275,765		3,102
United Online q		267,075		2,900
				35,733
Materials - 6.9%
Albemarle		63,319		2,465
AptarGroup q		76,674		2,967
Arch Chemicals		79,216		2,543
Commercial Metals q		74,756		2,232
Innophos Holdings		98,286		2,887
Schnitzer Steel Industries, Class A		6,447		582
Terra Industries		47,801		2,581
Texas Industries q		19,428		1,004
				17,261
Utilities - 4.8%
Black Hills q		69,332		2,237
El Paso Electric ql		121,445		2,509
Northwest Natural Gas q		56,786		2,570
Portland General Electric		73,150		1,718
Westar Energy q		137,023		3,026
				12,060
Total Common Stocks
(Cost $258,396)				248,098
Short-Term Investments - 0.8%
Money Market Fund - 0.8%
First American Prime Obligations Fund, Class Z ±
(Cost $2,100)		2,099,684		2,100
Investment Purchased with Proceeds from Securities Lending - 50.5%
Mount Vernon Securities Lending Prime Portfolio †
(Cost $126,887)		126,887,406		126,887
Total Investments u - 150.0%
(Cost $387,383)				377,085
Other Assets and Liabilities, Net - (50.0)%				(125,730	)
Total Net Assets - 100.0%			$	251,355

+	Security valuations for the fund’s investments are furnished by an independent pricing service that has been approved by the fund’s
	board of directors. Securities for which prices are not available from an independent pricing service, but where an active market exists,
	are valued using market quotations obtained from one or more dealers that make markets in the securities or from a widely-used quotation
	system. When market quotations are not readily available, securities are valued at fair value as determined in good faith by procedures
	established and approved by the fund’s board of directors. Debt obligations with 60 days or less remaining until maturity may be valued at
	their amortized cost, which approximates market value. As of July 31, 2008 the fund held no fair valued securities.
q	This security or a portion of this security is out on loan at July 31, 2008.  Total loaned securities had a market value of $120,463 at July 31, 2008.
l	Non-income producing security.
±	Investment in affiliated security.  This money market fund is advised by FAF Advisors, Inc., which also serves as advisor to this fund.
†	In order to generate additional income, the fund may loan securities representing up to one third of the value of its total assets (which includes collateral for securities on loan) to broker-dealers, banks, or other institutional borrowers of securities. The fund maintains collateral equal to at least 100% of the value of the securities loaned. The adequacy of the collateral is monitored on a daily basis. The cash collateral received by the fund is invested in this affiliated money market fund.
u	On July 31, 2008, the cost of investments for federal income tax purposes was approximately $387,383.  The approximate aggregate gross unrealized appreciation and depreciation of investments, based on this cost, were as follows:
	Gross unrealized appreciation	$23,725
	Gross unrealized depreciation	(34,023	)
	Net unrealized depreciation	$(10,298	)
ADR  -	American Depository Receipt
REIT -	Real Estate Investment Trust

Schedule ofINVESTMENTSJuly 31, 2008 (unaudited), all dollars are rounded to thousands (000)
Small-Mid Cap Core Fund
DESCRIPTION	SHARES		VALUE+
Common Stocks - 99.8%
Consumer Discretionary - 14.0%
Aeropostale ql		51,412	$	1,658
ATC Technology ql		37,058		931
Burger King Holdings		48,278		1,295
Charlotte Russe Holding ql		54,493		706
Ethan Allen Interiors q		26,422		663
Gymboree ql		26,132		977
Lear l		34,984		504
Skechers U.S.A., Class A ql		64,660		1,222
Stanley Works		31,558		1,404
WMS Industries ql		50,913		1,435
Wolverine World Wide q		32,343		865
				11,660
Consumer Staples - 1.1%
Spartan Stores q		37,856		901
Energy - 6.2%
Dril-Quip ql		26,184		1,418
Oceaneering International ql		12,483		757
Penn Virginia q		14,226		864
Superior Energy Services ql		15,550		738
Swift Energy ql		27,401		1,392
				5,169
Financials - 18.3%
Arch Capital Group l		14,050		980
BioMed Realty Trust - REIT q		73,583		1,898
Cathay General Bancorp		37,641		600
East West Bancorp q		87,226		1,039
FPIC Insurance Group ql		19,032		950
Knight Capital Group, Class A ql		116,768		1,914
MFA Mortgage Investments - REIT		92,900		599
Mid-America Apartment Communities - REIT q		12,575		723
National Retail Properties - REIT q		51,671		1,092
Platinum Underwriters Holdings q		50,919		1,838
Sterling Bancshares q		152,956		1,487
Waddell & Reed Financial, Class A q		39,189		1,309
Zions Bancorporation		28,687		840
				15,269
Healthcare - 14.2%
ArthroCare l		19,909		421
BioMarin Pharmaceutical ql		83,738		2,726
IDEXX Laboratories l		13,409		717
Intuitive Surgical ql		4,605		1,434
OSI Pharmaceuticals l		19,229		1,012
Pediatrix Medical Group ql		40,149		1,953
Sciele Pharma q		62,893		1,173
SonoSite ql		46,411		1,520
Varian ql		18,099		894
				11,850
Industrials - 13.0%
Administaff q		23,299		669
Columbus McKinnon l		24,467		629
Crane		38,405		1,363
EMCOR Group ql		53,146		1,601
Forward Air q		41,992		1,537
Nordson		9,988		706
Regal-Beloit q		37,498		1,565
Watson Wyatt Worldwide, Class A		14,598		846
Werner Enterprises q		82,896		1,974
				10,890
Information Technology - 20.6%
ANSYS l		25,943		1,190
Avnet l		29,000		791
Cogo Group ql		45,101		208
DealerTrack Holdings ql		56,576		882
Digital River ql		26,991		1,077
Dolby Laboratories, Class A l		21,187		862
Emulex ql		145,107		1,635
F5 Networks l		50,325		1,467
Fairchild Semiconductor International l		158,135		1,921
Intersil, Class A q		46,351		1,118
MICROS Systems ql		23,841		755
Plexus ql		29,201		832
Polycom ql		75,418		1,780
Progress Software ql		30,769		906
Quest Software l		65,640		992
Synaptics ql		16,067		775
				17,191
Materials - 8.6%
Eastman Chemical		10,398		623
Owens-Illinois l		32,648		1,379
Pactiv l		69,666		1,680
Schnitzer Steel Industries, Class A		15,693		1,416
Sonoco Products		31,792		1,037
Terra Industries q		18,629		1,006
				7,141
Telecommunication Services - 1.3%
tw telecom l		66,931		1,070
Utilities - 2.5%
NSTAR q		31,306		997
Westar Energy q		50,750		1,121
				2,118
Total Common Stocks
(Cost $85,421)				83,259
Warrants - 0.0%
Lantronix, Warrants l§
(Cost $0)		746		—
Short-Term Investment - 0.4%
First American Prime Obligations Fund, Class Z ±
(Cost $319)		319,333		319
Investment Purchased with Proceeds from Securities Lending - 49.2%
Mount Vernon Securities Lending Prime Portfolio †
(Cost $41,089)		41,089,104		41,089
Total Investments u - 149.4%
(Cost $126,829)				124,667
Other Assets and Liabilities, Net - (49.4)%				(41,210	)
Total Net Assets - 100.0%			$	83,457

+	Security valuations for the fund’s investments are furnished by an independent pricing service that has been approved by the fund’s
	board of directors. Securities for which prices are not available from an independent pricing service, but where an active market exists,
	are valued using market quotations obtained from one or more dealers that make markets in the securities or from a widely-used quotation
	system. When market quotations are not readily available, securities are valued at fair value as determined in good faith by procedures
	established and approved by the fund’s board of directors. Debt obligations with 60 days or less remaining until maturity may be valued at
	their amortized cost, which approximates market value. As of July 31, 2008, the fund held fair valued securities disclosed in footnote §.
q	This security or a portion of this security is out on loan at July 31, 2008.  Total loaned securities had a market value of $39,519 at July 31, 2008.
l	Non-income producing security.
§	Security is fair-valued and illiquid.  As of July 31, 2008, the fair value of this investment was $0 or 0.0% of total net assets.  Information concerning the illiquid security is as follows:
				Dates
	Security	Shares		Acquired	Cost Basis
	Lantronix, Warrants	746		5/08	$—
±	Investment in affiliated security.  This money market fund is advised by FAF Advisors, Inc., which also serves as advisor to this fund.
†	In order to generate additional income, the fund may loan securities representing up to one third of the value of its total assets (which includes collateral for securities on loan) to broker-dealers, banks, or other institutional borrowers of securities. The fund maintains collateral equal to at least 100% of the value of the securities loaned. The adequacy of the collateral is monitored on a daily basis. The cash collateral received by the fund is invested in this affiliated money market fund.
u	On July 31, 2008, the cost of investments for federal income tax purposes was approximately $126,829.  The approximate aggregate gross unrealized appreciation and depreciation of investments, based on this cost, were as follows:
	Gross unrealized appreciation	$4,510
	Gross unrealized depreciation	(6,672	)
	Net unrealized depreciation	$(2,162	)
	REIT - Real Estate Investment Trust

Schedule of INVESTMENTSJuly 31, 2008 (unaudited), all dollars are rounded to thousands (000)
Mid Cap Growth Opportunities Fund
DESCRIPTION	SHARES		VALUE+
Common Stocks - 98.0%
Consumer Discretionary - 13.1%
Abercrombie & Fitch, Class A q		384,675	$	21,242
Advance Auto Parts q		183,699		7,548
Aeropostale ql		471,972		15,221
Bally Technologies ql		299,736		9,529
Burger King Holdings		756,920		20,308
Chipotle Mexican Grill, Class A ql		96,209		6,590
Chipotle Mexican Grill, Class B ql		75,351		4,824
DeVry q		428,595		24,348
Family Dollar Stores q		621,380		14,478
Omnicom Group q		477,297		20,376
Polo Ralph Lauren q		420,441		24,878
TJX		567,020		19,114
WMS Industries ql		369,910		10,424
				198,880
Consumer Staples - 1.8%
Alberto-Culver q		641,385		17,208
Molson Coors Brewing, Class B q		189,489		10,227
				27,435
Energy - 10.8%
Cameron International ql		556,874		26,596
Nabors Industries ql		633,438		23,095
National-Oilwell Varco ql		164,357		12,923
Petrohawk Energy ql		174,784		5,824
Pride International ql		318,484		12,345
Quicksilver Resources ql		328,874		8,603
Smith International q		165,485		12,309
Southwestern Energy l		640,370		23,252
Weatherford International ql		600,136		22,643
Williams q		496,063		15,899
				163,489
Financials - 7.0%
AllianceBernstein Holding		257,558		13,380
Charles Schwab q		725,660		16,610
IntercontinentalExchange l		111,450		11,123
Invesco		648,041		15,093
Janus Capital Group q		600,207		18,210
TD Ameritrade ql		1,557,045		31,001
				105,417
Healthcare - 16.3%
Applied Biosystems q		683,541		25,243
BioMarin Pharmaceutical ql		580,875		18,908
DENTSPLY International q		522,588		21,034
Express Scripts ql		418,507		29,522
Henry Schein ql		272,101		14,574
Hologic ql		367,360		6,785
IDEXX Laboratories ql		314,506		16,826
Intuitive Surgical ql		85,031		26,469
Invitrogen l		199,181		8,834
Pediatrix Medical Group ql		247,281		12,030
St. Jude Medical ql		774,130		36,059
Thermo Fisher Scientific ql		517,072		31,293
				247,577
Industrials - 14.3%
C.H. Robinson Worldwide q		243,403		11,732
Dun & Bradstreet		213,919		20,673
First Solar ql		31,823		9,073
Flowserve q		199,734		26,633
Kansas City Southern ql		406,819		22,375
Knight Transportation q		908,473		17,188
McDermott International l		502,385		23,949
Republic Services		829,243		26,951
Rockwell Collins		270,523		13,442
Roper Industries q		354,804		21,707
SPX		174,312		22,099
				215,822
Information Technology - 22.0%
Activision Blizzard l		589,154		21,198
Amphenol, Class A q		605,631		28,870
ANSYS ql		409,844		18,804
Avnet ql		374,837		10,218
BMC Software ql		676,331		22,245
Broadcom, Class A ql		703,103		17,078
CA q		894,846		21,351
Dolby Laboratories, Class A ql		388,418		15,805
F5 Networks ql		752,572		21,938
Fairchild Semiconductor International ql		1,236,830		15,028
Intersil, Class A q		1,605,777		38,747
Juniper Networks ql		1,139,240		29,654
Lam Research ql		361,215		11,880
MasterCard, Class A q		123,499		30,152
MEMC Electronic Materials ql		485,065		22,415
Mercadolibre ql		220,932		7,920
				333,303
Materials - 7.4%
Air Products and Chemicals q		251,234		23,920
Cleveland-Cliffs q		150,153		16,278
Ecolab q		311,714		13,934
Massey Energy q		155,914		11,576
Owens-Illinois l		602,793		25,462
Pactiv ql		357,187		8,612
Sonoco Products		368,290		12,014
				111,796
Telecommunication Services - 5.3%
American Tower, Class A ql		888,200		37,215
NII Holdings ql		502,212		27,451
SBA Communications, Class A ql		398,461		15,098
				79,764
Total Common Stocks
(Cost $1,327,726)				1,483,483
Short Term Investments - 1.2%
First American Prime Obligations Fund, Class Z ±
(Cost $17,620)		17,620,240		17,620
Investment Purchased with Proceeds from Securities Lending - 48.5%
Mount Vernon Securities Lending Prime Portfolio †
(Cost $734,210)		734,210,125		734,210
Total Investments u - 147.7%
(Cost $2,079,556)				2,235,313
Other Assets and Liabilities, Net - (47.7)%				(721,826	)
Total Net Assets - 100.0%			$	1,513,487

+	Security valuations for the fund’s investments are furnished by an independent pricing service that has been approved by the fund’s
	board of directors. Securities for which prices are not available from an independent pricing service, but where an active market exists,
	are valued using market quotations obtained from one or more dealers that make markets in the securities or from a widely-used quotation
	system. When market quotations are not readily available, securities are valued at fair value as determined in good faith by procedures
	established and approved by the fund’s board of directors. Debt obligations with 60 days or less remaining until maturity may be valued at
	their amortized cost, which approximates market value. As of July 31, 2008 the fund held no fair valued securities.
q	This security or a portion of this security is out on loan at July 31, 2008.  Total loaned securities had a market value of $709,366 at July 31, 2008.
l	Non-income producing security.
±	Investment in affiliated security.  This money market fund is advised by FAF Advisors, Inc., which also serves as advisor to this fund.
†	In order to generate additional income, the fund may loan securities representing up to one third of the value of its total assets (which includes collateral for securities on loan) to broker-dealers, banks, or other institutional borrowers of securities. The fund maintains collateral equal to at least 100% of the value of the securities loaned. The adequacy of the collateral is monitored on a daily basis. The cash collateral received by the fund is invested in this affiliated money market fund.
u	On July 31, 2008, the cost of investments for federal income tax purposes was approximately $2,079,556.  The approximate aggregate gross unrealized appreciation and depreciation of investments, based on this cost, were as follows:
	Gross unrealized appreciation	$242,312
	Gross unrealized depreciation	(86,555	)
	Net unrealized appreciation	$155,757

Schedule of INVESTMENTSJuly 31, 2008 (unaudited) all dollars are rounded to thousands (000)
Mid Cap Value Fund
DESCRIPTION	SHARES		VALUE+
Common Stocks - 97.2%
Consumer Discretionary - 14.7%
Abercrombie & Fitch, Class A q		164,738	$	9,097
Autoliv q		194,500		7,593
Burger King Holdings		717,937		19,262
D.R. Horton q		177,997		1,979
Gap q		888,459		14,322
J.C. Penney q		309,733		9,549
Newell Rubbermaid		687,288		11,361
Omnicom Group q		434,590		18,553
Sherwin-Williams q		93,364		4,972
Stanley Works		247,268		10,998
TJX q		328,910		11,088
Toll Brothers ql		108,545		2,181
				120,955
Consumer Staples - 5.1%
ConAgra Foods q		899,174		19,494
Corn Products International		168,948		7,858
Pepsi Bottling Group		355,154		9,891
SUPERVALU		203,860		5,223
				42,466
Energy - 6.5%
BJ Services q		201,219		5,916
El Paso		647,106		11,603
Forest Oil l		35,893		2,047
Nabors Industries ql		464,228		16,926
Noble Energy q		200,143		14,784
Plains Exploration & Production l		37,289		2,087
				53,363
Financials - 25.6%
AON q		340,445		15,592
Arch Capital Group l		194,649		13,573
Assurant		186,606		11,219
Assured Guaranty q		336,086		3,852
Astoria Financial q		522,644		11,692
Boston Properties - REIT q		104,430		10,045
Brookfield Properties l		368,814		6,963
City National q		219,708		10,794
Developers Diversified Realty - REIT q		202,551		6,474
Discover Financial Services q		182,748		2,677
Everest Re Group q		127,639		10,441
Federal Realty Investment Trust - REIT q		96,361		6,997
Invesco		752,856		17,534
Lazard, Class A		265,547		10,837
M&T Bank q		177,196		12,471
Northern Trust		135,480		10,591
ProLogis - REIT q		146,873		7,179
StanCorp Financial Group q		204,763		10,113
TD Ameritrade l		675,143		13,442
W.R. Berkley		385,244		9,099
Zions Bancorporation q		327,379		9,582
				211,167
Healthcare - 2.0%
AmerisourceBergen q		287,655		12,044
Coventry Health Care ql		133,750		4,731
				16,775
Industrials - 8.1%
AGCO ql		76,907		4,603
Eaton q		189,398		13,455
Republic Services		487,089		15,830
Southwest Airlines q		811,910		12,658
Werner Enterprises q		866,836		20,639
				67,185
Information Technology - 9.6%
Amphenol, Class A q		145,322		6,928
Avnet l		529,029		14,421
BMC Software l		232,404		7,644
CA		416,443		9,936
Fairchild Semiconductor International ql		1,244,574		15,122
Harris q		151,535		7,296
Intersil, Class A q		344,680		8,317
MEMC Electronic Materials l		205,986		9,519
				79,183
Materials - 10.4%
Eastman Chemical q		312,513		18,738
Owens-Illinois l		323,084		13,647
Pactiv l		736,790		17,764
Rohm & Haas q		154,570		11,593
Sonoco Products q		588,944		19,211
Terra Industries		87,999		4,752
				85,705
Real Estate - 1.0%
Essex Property Trust - REIT q		66,025		8,012
Telecommunication Services - 3.3%
tw telecom ql		815,431		13,031
Windstream q		1,212,104		14,448
				27,479
Utilities - 10.9%
Allegheny Energy		168,948		8,177
Edison International q		531,469		25,691
PG&E q		376,732		14,516
PPL q		175,446		8,239
Sempra Energy q		328,621		18,455
Westar Energy q		195,791		4,323
Wisconsin Energy q		239,321		10,798
				90,199
Total Common Stocks
(Cost $818,192)				802,489
Short-Term Investments - 3.3%
Money Market Fund - 3.3%
First American Prime Obligations Fund ±
(Cost $27,010)		27,010		27,010
Investment Purchased with Proceeds from Securities Lending - 40.6%
Mount Vernon Securities Lending Prime Portfolio †
(Cost $335,468 )		335,468,361		335,468
Total Investments u  - 141.1%
(Cost $1,180,670)				1,164,967
Other Assets and Liabilities, Net - (41.1)%				(339,411	)
Total Net Assets - 100.0%			$	825,556

+	Security valuations for the fund's investments are furnished by an independent pricing service that has been approved by the fund's board of directors.
	Securities for which prices are not available from an independent pricing service, but where an active market exists, are valued using market quotations
	obtained from one or more dealers that make markets in the securities or from a widely-used quotation system. When market quotations are not
	readily available, securities are valued at fair value as determined in good faith by procedures established and approved by the fund's board of directors.
	Debt obligations with 60 days or less remaining until maturity may be valued at their amortized cost, which approximates market value. As of July 31,
	2008, the fund held no fair valued securities.
q	This security or a portion of this security is out on loan at July 31, 2008.  Total loaned securities had a market value of $322,004 at July 31, 2008.
l	Non-income producing security.
±	Investment in affiliated security.  This money market fund is advised by FAF Advisors, Inc., which also serves as advisor to this fund.
†	In order to generate additional income, the fund may loan securities representing up to one third of the value of its total assets (which includes
	collateral for securities on loan) to broker-dealers, banks, or other institutional borrowers of securities. The fund maintains collateral equal to at least
	100% of the value of the securities loaned. The adequacy of the collateral is monitored on a daily basis. The cash collateral received by the fund is
	invested in this affiliated money market fund.
u	On July 31, 2008, the cost of investments for federal income tax purposes was approximately $1,180,670.  The approximate aggregate gross
	unrealized appreciation and depreciation of investments, based on this cost, were as follows:
	Gross unrealized appreciation	$78,812
	Gross unrealized depreciation	(94,515	)
	Net unrealized deppreciation	$(15,703	)
REIT -	Real Estate Investment Trust

Schedule ofINVESTMENTS July 31, 2008 (unaudited), all dollars are rounded to thousands (000)
Large Cap Growth Opportunities Fund
DESCRIPTION	SHARES		VALUE+
Common Stocks - 98.5%
Consumer Discretionary - 8.1%
McDonald's		245,179	$	14,659
Nike, Class B q		112,569		6,606
Omnicom Group q		210,878		9,002
Polo Ralph Lauren q		119,460		7,069
Target q		228,395		10,330
TJX		204,108		6,881
				54,547
Consumer Staples - 9.3%
CVS Caremark q		329,827		12,039
Molson Coors Brewing, Class B q		58,928		3,180
PepsiCo		204,556		13,615
Philip Morris International		388,900		20,087
Procter & Gamble		217,171		14,220
				63,141
Energy - 9.4%
Cameron International ql		89,219		4,261
National-Oilwell Varco ql		47,381		3,725
Petroleo Brasileiro - ADR		182,108		8,348
Schlumberger		59,941		6,090
Transocean ql		89,947		12,235
Weatherford International ql		315,548		11,906
Williams		196,155		6,287
XTO Energy q		232,453		10,979
				63,831
Financials - 4.2%
Bank of New York Mellon q		142,641		5,064
Charles Schwab q		660,102		15,110
Goldman Sachs Group q		46,438		8,546
				28,720
Healthcare - 18.7%
Abbott Laboratories		371,666		20,940
Alcon		63,072		10,876
Baxter International q		259,275		17,789
Bristol-Myers Squibb		507,354		10,715
Celgene ql		131,692		9,941
Gilead Sciences ql		270,369		14,595
Intuitive Surgical ql		19,703		6,133
Medco Health Solutions ql		264,847		13,131
St. Jude Medical ql		215,358		10,031
Thermo Fisher Scientific ql		202,713		12,268
				126,419
Industrials - 10.5%
C.H. Robinson Worldwide q		116,019		5,592
CSX		101,509		6,860
Deere & Company q		103,351		7,251
Dun & Bradstreet q		100,472		9,710
Emerson Electric		226,094		11,011
Raytheon q		182,389		10,383
Republic Services		297,804		9,679
United Technologies		168,050		10,752
				71,238
Information Technology - 30.1%
Accenture, Class A q		303,711		12,683
Activision Blizzard l		133,676		4,810
Amphenol, Class A q		246,917		11,770
Apple ql		139,916		22,240
BMC Software ql		243,392		8,005
Cisco Systems ql		880,854		19,370
Corning		529,914		10,603
Dolby Laboratories, Class A ql		119,349		4,856
Hewlett-Packard q		452,119		20,255
Intel q		514,389		11,414
Intersil, Class A q		375,251		9,055
MasterCard, Class A q		46,029		11,238
MEMC Electronic Materials l		103,327		4,775
Microsoft		417,481		10,738
Oracle ql		941,713		20,275
QUALCOMM		228,310		12,635
Research In Motion ql		78,074		9,589
				204,311
Materials - 5.8%
Ecolab q		127,395		5,694
Freeport-McMoRan Copper & Gold q		72,899		7,053
Monsanto q		125,239		14,917
Praxair		124,887		11,706
				39,370
Telecommunication Services - 2.4%
America Movil, Series L - ADR q		93,175		4,704
American Tower, Class A ql		273,065		11,442
				16,146
Total Common Stocks
(Cost $578,901)				667,723
Short-Term Investment - 1.9%
First American Prime Obligations Fund, Class Z ±
(Cost $12,629)		12,629,153		12,629
Investment Purchased with Proceeds from Securities Lending - 48.5%
Mount Vernon Securities Lending Prime Portfolio †
(Cost $328,703)		328,702,597		328,703
Total Investments u - 148.9%
(Cost $920,233)				1,009,055
Other Assets and Liabilities, Net - (48.9)%				(331,311	)
Total Net Assets - 100.0%			$	677,744

+	Security valuations for the fund's investments are furnished by an independent pricing service that has been approved by the fund's board of directors. Securities for which prices are not available from an independent pricing service, but where an active market exists, are valued using market quotations obtained from one or more dealers that make markets in the securities or from a widely-used quotation system. When market quotations are not readily available, securities are valued at fair value as determined in good faith by procedures established and approved by the fund's board of directors. Debt obligations with 60 days or less remaining until maturity may be valued at their amortized cost, which approximates market value. As of July 31, 2008, the fund held no fair valued securities.
q	This security or a portion of this security is out on loan at July 31, 2008.  Total loaned securities had a market value of $315,817 at July 31, 2008.
l	Non-income producing security.
±	Investment in affiliated security.  This money market fund is advised by FAF Advisors, Inc., which also serves as advisor to this fund.
†	In order to generate additional income, the fund may loan securities representing up to one third of the value of its total assets (which includes collateral for securities on loan) to broker-dealers, banks, or other institutional borrowers for securities.  The fund receives collateral equal to at least 100% of the value of the securities loaned.  The adequacy of the collateral is monitored on a daily basis.  The cash collateral received by the fund is invested in this affiliated money market fund.
u	On July 31, 2008, the cost of investments for federal income tax purposes was approximately $920,233.  The approximate aggregate gross unrealized appreciation and depreciation of investments, based on this cost, were as follows:
	Gross unrealized appreciation	$106,693
	Gross unrealized depreciation	(17,871	)
	Net unrealized appreciation	$88,822
ADR - American Depository Receipt

Schedule ofINVESTMENTS July 31, 2008 (unaudited), all dollars are rounded to thousands (000)
Large Cap Select Fund
DESCRIPTION	SHARES		VALUE+
Common Stocks - 96.9%
Consumer Discretionary - 18.2%
Abercrombie & Fitch, Class A q		77,558	$	4,283
Autoliv q		91,229		3,561
Best Buy q		87,971		3,494
Burger King Holdings q		161,203		4,325
Comcast, Class A q		343,016		7,073
Home Depot q		321,924		7,671
Interpublic Group of Companies l		373,902		3,287
Macy's q		291,001		5,474
McGraw-Hill q		143,299		5,828
Omnicom Group q		76,384		3,261
Tiffany & Company q		85,898		3,246
Walt Disney q		162,343		4,927
WMS Industries ql		113,898		3,210
				59,640
Consumer Staples - 4.0%
Molson Coors Brewing, Class B q		56,785		3,065
PepsiCo		80,637		5,367
SUPERVALU q		179,524		4,599
				13,031
Energy - 10.9%
Apache q		43,262		4,853
Cameron International ql		110,761		5,290
Chevron		37,401		3,163
Halliburton q		68,037		3,049
Nabors Industries ql		116,482		4,247
Occidental Petroleum		41,711		3,288
Petrohawk Energy ql		50,225		1,673
Plains Exploration & Production l		33,388		1,869
Weatherford International ql		112,550		4,246
Williams		127,073		4,073
				35,751
Financials - 14.4%
Affiliated Managers Group ql		62,528		5,402
Assurant		64,379		3,871
Citigroup		397,471		7,429
Goldman Sachs Group q		31,722		5,838
Invesco		283,463		6,602
JPMorgan Chase q		206,775		8,401
State Street q		65,214		4,672
TD Ameritrade ql		242,044		4,819
				47,034
Healthcare - 12.4%
Abbott Laboratories		122,727		6,914
Baxter International q		96,327		6,609
Celgene ql		69,913		5,278
Intuitive Surgical ql		8,133		2,532
Medco Health Solutions ql		85,556		4,242
Medtronic q		115,437		6,099
Merck		120,770		3,973
Thermo Fisher Scientific l		79,829		4,831
				40,478
Industrials - 10.9%
3M		66,361		4,671
Emerson Electric		97,500		4,748
Illinois Tool Works		113,878		5,335
Raytheon q		79,742		4,540
Southwest Airlines q		195,593		3,050
SPX q		46,047		5,838
Werner Enterprises q		311,729		7,422
				35,604
Information Technology - 20.5%
Accenture, Class A		91,134		3,806
Activision Blizzard l		89,428		3,218
Apple ql		56,037		8,907
BMC Software ql		143,858		4,731
CA q		156,103		3,725
Cisco Systems ql		241,940		5,320
Hewlett-Packard q		230,533		10,328
Intersil, Class A q		208,845		5,039
Lam Research ql		50,133		1,649
MasterCard, Class A q		10,316		2,519
MEMC Electronic Materials l		62,416		2,884
Oracle ql		322,649		6,947
Research In Motion ql		26,165		3,213
Texas Instruments q		203,606		4,964
				67,250
Materials - 3.3%
Cleveland-Cliffs q		22,199		2,407
Pactiv ql		230,006		5,545
Potash Corporation of Saskatchewan q		13,769		2,813
				10,765
Telecommunication Services - 2.3%
American Tower, Class A l		105,523		4,421
Windstream q		274,488		3,272
				7,693
Total Common Stocks
(Cost $319,744)				317,246
Exchange-Traded Fund - 2.4%
Financial Select Sector SPDR Fund q
(Cost $7,322)		359,678		7,780
Short-Term Investment - 0.4%
First American Prime Obligations Fund, Class Z ±
(Cost $1,284)		1,283,941		1,284
Investment Purchased with Proceeds from Securities Lending - 48.6%
Mount Vernon Securities Lending Prime Portfolio †
(Cost $159,113)		159,112,955		159,113
Total Investments y - 148.3%
(Cost $487,463)				485,423
Other Assets and Liabilities, Net - (48.3)%				(157,963	)
Total Net Assets - 100.0%			$	327,460

+	Security valuations for the fund's investments are furnished by an independent pricing service that has been approved by the fund's board of directors. Securities for which prices are not available from an independent pricing service, but where an active market exists, are valued using market quotations obtained from one or more dealers that make markets in the securities or from a widely-used quotation system. When market quotations are not readily available, securities are valued at fair value as determined in good faith by procedures established and approved by the fund's board of directors. Debt obligations with 60 days or less remaining until maturity may be valued at their amortized cost, which approximates market value. As of July 31, 2008, the fund held no fair valued securities.
q	This security or a portion of this security is out on loan at July 31, 2008.  Total loaned securities had a market value of $152,432 at July 31, 2008.
l	Non-income producing security.
±	Investment in affiliated security.  This money market fund is advised by FAF Advisors, Inc., which also serves as advisor to this fund.
†	In order to generate additional income, the fund may loan securities representing up to one third of the value of its total assets (which includes collateral for securities on loan) to broker-dealers, banks, or other institutional borrowers for securities.  The fund receives collateral equal to at least 100% of the value of the securities loaned.  The adequacy of the collateral is monitored on a daily basis.  The cash collateral received by the fund is invested in this affiliated money market fund.
u	On July 31, 2008, the cost of investments for federal income tax purposes was approximately $487,463.  The approximate aggregate gross unrealized appreciation and depreciation of investments, based on this cost, were as follows:
	Gross unrealized appreciation	$20,128
	Gross unrealized depreciation	(22,168	)
	Net unrealized depreciation	$(2,040	)

Schedule ofINVESTMENTSJuly 31, 2008 (unaudited), all dollars are rounded to thousands (000)
Large Cap Value Fund
DESCRIPTION	SHARES		VALUE+
Common Stocks - 98.7%
Consumer Discretionary - 7.3%
Abercrombie & Fitch, Class A q		96,060	$	5,304
Autoliv q		144,846		5,655
Comcast, Class A q		330,698		6,819
Gap q		537,367		8,662
J.C. Penney q		182,245		5,619
Omnicom Group q		294,165		12,558
				44,617
Consumer Staples - 7.3%
Altria Group		143,999		2,930
Archer-Daniels-Midland q		198,692		5,689
ConAgra Foods q		528,066		11,449
Kroger q		104,185		2,946
Procter & Gamble q		279,819		18,323
Wal-Mart Stores q		53,007		3,107
				44,444
Energy - 16.1%
Chevron q		281,957		23,842
Devon Energy q		97,802		9,280
Exxon Mobil		337,624		27,155
Nabors Industries ql		271,917		9,914
Occidental Petroleum		117,634		9,273
Transocean ql		47,942		6,522
Williams		368,128		11,799
				97,785
Financials - 22.1%
ACE q		256,526		13,006
American International Group q		128,314		3,342
AON q		137,236		6,285
Bank of America q		373,575		12,291
BB&T q		269,191		7,543
Citigroup q		729,660		13,637
Goldman Sachs Group q		72,392		13,323
Invesco		327,126		7,619
JPMorgan Chase q		607,068		24,665
M&T Bank q		92,032		6,477
State Street		198,726		14,237
Wells Fargo q		399,432		12,091
				134,516
Healthcare - 9.6%
AmerisourceBergen q		216,678		9,072
Bristol-Myers Squibb		332,236		7,017
Johnson & Johnson q		265,956		18,210
Medtronic q		162,761		8,599
Pfizer		502,629		9,384
Wyeth		154,343		6,254
				58,536
Industrials - 10.0%
Eaton		82,303		5,847
General Electric		392,612		11,107
Norfolk Southern q		76,723		5,518
Republic Services		287,550		9,345
Southwest Airlines q		619,551		9,659
Tyco International q		229,395		10,222
Waste Management		256,741		9,124
				60,822
Information Technology - 8.6%
Accenture, Class A		127,016		5,304
BMC Software ql		172,864		5,686
CA q		301,024		7,182
Cisco Systems ql		296,210		6,514
Hewlett-Packard q		151,118		6,770
Intel q		252,509		5,603
MEMC Electronic Materials l		151,293		6,991
Nortel Networks l		6,868		53
Texas Instruments q		346,055		8,437
				52,540
Materials - 7.0%
Eastman Chemical q		194,730		11,676
Owens-Illinois l		129,782		5,482
Pactiv ql		519,669		12,529
Sonoco Products q		400,815		13,075
				42,762
Telecommunication Services - 5.0%
AT&T		668,670		20,602
Verizon Communications q		295,936		10,073
				30,675
Utilities - 5.7%
Edison International q		243,253		11,759
FirstEnergy		92,616		6,812
PG&E q		233,924		9,013
PPL q		153,558		7,211
				34,795
Total Common Stocks
(Cost $602,997)				601,492
Short-Term Investment - 1.2%
First American Prime Obligations Fund, Class Z ±
(Cost $7,355)		7,355,288		7,355
Investment Purchased with Proceeds from Securities Lending - 50.9%
Mount Vernon Securities Lending Prime Portfolio †
(Cost $310,138)		310,137,726		310,138
Total Investments u - 150.8%
(Cost $920,490)				918,985
Other Assets and Liabilities, Net - (50.8)%				(309,457	)
Total Net Assets - 100.0%			$	609,528

+	Security valuations for the fund's investments are furnished by an independent pricing service that has been approved by the fund's board of directors. Securities for which prices are not available from an independent pricing service, but where an active market exists, are valued using market quotations obtained from one or more dealers that make markets in the securities or from a widely-used quotation system. When market quotations are not readily available, securities are valued at fair value as determined in good faith by procedures established and approved by the fund's board of directors. Debt obligations with 60 days or less remaining until maturity may be valued at their amortized cost, which approximates market value. As of July 31, 2008, the fund held no fair valued securities.
q	This security or a portion of this security is out on loan at July 31, 2008.  Total loaned securities had a market value of $298,449 at July 31, 2008.
l	Non-income producing security.
±	Investment in affiliated security.  This money market fund is advised by FAF Advisors, Inc., which also serves as advisor to this fund.
†	In order to generate additional income, the fund may loan securities representing up to one third of the value of its total assets (which includes collateral for securities on loan) to broker-dealers, banks, or other institutional borrowers for securities.  The fund receives collateral equal to at least 100% of the value of the securities loaned.  The adequacy of the collateral is monitored on a daily basis.  The cash collateral received by the fund is invested in this affiliated money market fund.
u	On July 31, 2008, the cost of investments for federal income tax purposes was approximately $920,490.  The approximate aggregate gross unrealized appreciation and depreciation of investments, based on this cost, were as follows:
	Gross unrealized appreciation	$53,129
	Gross unrealized depreciation	(54,634	)
	Net unrealized depreciation	$(1,505	)

Schedule of INVESTMENTS July 31, 2008 (unaudited), all dollars are rounded to thousands (000)
Balanced Fund
DESCRIPTION		SHARES		VALUE +
Common Stocks - 49.9%
Consumer Discretionary - 9.3%
1-800-Flowers.com, Class A l			21,349	$	118
Abercrombie & Fitch, Class A q			26,552		1,466
Aeropostale lq			2,185		71
Amerigon lq			3,761		25
ATC Technology lq			5,233		132
Autoliv q			31,233		1,219
Best Buy q			30,117		1,196
Burger King Holdings q			55,189		1,481
Christopher & Banks q			10,846		94
Coinstar lq			5,417		187
Comcast, Class A q			117,434		2,422
Cooper Tire & Rubber q			11,208		103
FGX International Holdings Limited lq			3,204		37
Fossil lq			3,642		98
Home Depot q			110,213		2,626
Interface, Class A			10,762		128
Interpublic Group of Companies l			128,009		1,125
Macy's q			99,626		1,874
McCormick & Schmick's Seafood Restaurants l			4,698		38
McGraw-Hill q			49,059		1,995
Omnicom Group q			26,151		1,116
P.F. Chang's China Bistro lq			5,743		149
Scientific Games, Class A lq			1,926		58
Skechers U.S.A., Class A lq			7,069		134
Texas Roadhouse, Class A lq			13,723		127
Tiffany & Company q			29,408		1,111
Tween Brands lq			769		11
VistaPrint lq			810		21
Walt Disney q			55,579		1,687
WMS Industries lq			43,983		1,239
					22,088
Consumer Staples - 2.0%
Chattem lq			1,386		89
Hain Celestial Group lq			7,333		192
Molson Coors Brewing, Class B			19,445		1,049
PepsiCo			27,607		1,837
Ralcorp Holdings lq			2,088		113
SUPERVALU q			61,461		1,575
					4,855
Energy - 5.4%
Apache			14,811		1,661
Cal Dive International l			4,892		52
Cameron International lq			37,920		1,811
Chevron q			12,804		1,083
Comstock Resources lq			739		45
Edge Petroleum lq			13,810		71
Global Industries lq			7,837		94
Halliburton q			23,293		1,044
Nabors Industries lq			39,878		1,454
Occidental Petroleum			14,280		1,126
Oceaneering International lq			1,071		65
Patterson-UTI Energy q			5,119		145
Penn Virginia q			888		54
Penn West Energy Trust			-		-
Petrohawk Energy l			17,195		573
Petroleum Development l			413		23
Plains Exploration & Production l			11,431		640
TETRA Technologies lq			9,069		172
Weatherford International lq			38,532		1,454
Williams			43,505		1,394
					12,961
Financials - 7.5%
Affiliated Managers Group lq			23,210		2,005
Assurant			22,041		1,325
Astoria Financial q			7,644		171
Bank of the Ozarks q			5,638		116
BioMed Realty Trust q			5,378		139
Citigroup			136,079		2,543
Columbia Banking System			690		10
Cullen/Frost Bankers q			1,387		73
Delphi Financial Group, Class A q			4,815		120
Digital Realty Trust - REIT			3,149		135
Dime Community Bancshares			8,838		148
East West Bancorp			10,272		122
Goldman Sachs Group q			10,860		1,999
Independent Bank			3,003		79
Invesco			97,045		2,260
JPMorgan Chase q			70,791		2,876
Kite Realty Group Trust - REIT			3,839		48
Knight Capital Group, Class A lq			9,250		152
LaSalle Hotel Properties - REIT			2,857		65
Platinum Underwriters Holdings q			3,216		116
State Street q			22,326		1,599
TD Ameritrade l			82,865		1,650
Umpqua Holdings q			3,626		49
					17,800
Healthcare - 6.5%
Abbott Laboratories			42,016		2,367
Arena Pharmaceuticals lq			6,438		44
Array BioPharma l			8,105		63
Baxter International			32,978		2,263
BioMarin Pharmaceutical lq			2,635		86
Celgene l			23,935		1,807
Dexcom lq			12,744		86
eResearchTechnology l			4,993		73
Exelixis lq			8,269		58
Hologic lq			1,620		30
ICU Medical lq			4,631		132
Immucor lq			4,112		124
Intuitive Surgical lq			2,785		867
K-V Pharmaceutical, Class A lq			11,347		232
Magellan Health Services l			1,038		43
Medco Health Solutions lq			29,291		1,452
Medtronic q			39,521		2,088
Merck			41,347		1,360
Myriad Genetics lq			596		40
OSI Pharmaceuticals lq			1,204		63
Pediatrix Medical Group lq			2,085		101
Senomyx lq			9,145		46
SonoSite lq			7,716		253
Thermo Fisher Scientific lq			27,330		1,654
Thoratec l			1,752		33
TranS1 lq			5,834		54
					15,419
Industrials - 5.9%
3M			22,720		1,599
Advisory Board lq			5,725		220
AMETEK			2,954		141
BE Aerospace l			5,423		139
CBIZ lq			6,684		55
Columbus McKinnon lq			1,161		30
Con-way q			3,191		161
Emerson Electric			33,380		1,626
ESCO Technologies lq			5,800		239
Forward Air q			1,669		61
Illinois Tool Works			38,987		1,827
Interline Brands lq			5,387		85
Knight Transportation q			2,927		55
MasTec l			10,493		151
Nordson q			1,266		89
Old Dominion Freight Line lq			3,207		118
Raytheon			27,300		1,554
RBC Bearings lq			3,824		127
Regal-Beloit q			1,106		46
Southwest Airlines q			66,973		1,044
SPX			15,765		1,999
Waste Connections l			2,485		90
Werner Enterprises q			106,724		2,541
					13,997
Information Technology - 10.5%
Accenture, Class A			31,200		1,303
Activision Blizzard l			30,623		1,102
ADC Telecommunications lq			10,261		97
Advanced Analogic Technologies lq			30,944		128
Apple lq			19,185		3,049
Bankrate lq			2,172		68
BMC Software l			49,251		1,620
CA			53,443		1,275
Cisco Systems lq			82,843		1,822
Cognex q			1,633		31
DealerTrack Holdings lq			5,267		82
Digital River lq			2,174		87
Emulex lq			9,981		113
F5 Networks lq			3,644		106
Foundry Networks lq			4,642		81
Greenfield Online lq			3,624		50
Hewlett-Packard			78,924		3,536
Intersil, Class A			71,499		1,725
Lam Research lq			17,164		564
MasterCard, Class A q			3,532		862
MEMC Electronic Materials l			21,369		988
Omniture lq			6,038		105
Oracle l			110,461		2,378
Photronics lq			12,388		53
Plexus l			1,371		39
Polycom lq			7,046		166
Power Integrations lq			3,857		105
Progress Software lq			5,837		172
Research In Motion lq			8,958		1,100
Silicon Laboratories l			4,318		141
Synaptics lq			2,258		109
Tessera Technologies lq			8,830		154
Texas Instruments			69,706		1,699
TTM Technologies lq			6,764		76
VASCO Data Security International l			2,376		33
Veeco Instruments lq			1,375		22
					25,041
Materials - 1.7%
Albemarle			3,533		138
AptarGroup			2,080		80
Cleveland-Cliffs q			7,600		824
Flotek Industries lq			14		-
Pactiv lq			78,744		1,899
Potash Corporation of Saskatchewan			4,714		963
Schnitzer Steel Industries, Class A			474		43
Terra Industries q			2,782		150
					4,097
Telecommunication Services - 1.1%
American Tower, Class A l			36,126		1,514
Cogent Communications Group lq			4,047		49
General Communication, Class A l			4,116		37
Windstream			93,973		1,120
					2,720
Utilities - 0.0%
NSTAR q			2,117		67
Total Common Stocks
(Cost $119,669)					119,045
Investment Companies - 3.6%
Financial Select Sector SPDR Fund q			111,759		2,417
iShares MSCI EAFE Index Fund q			76,600		5,086
iShares MSCI Emerging Markets Index Fund q			23,400		998
Total Investment Companies
(Cost $7,175)					8,501
Corporate Bonds - 20.5%		PAR
Banking - 4.0%
Bank of America
5.750%, 12/01/2017 q		$	390		366
5.650%, 05/01/2018			480		448
8.000%, 12/29/2049 r			820		756
Citigroup
6.875%, 03/05/2038			350		338
8.400%, 04/29/2049 r			1,395		1,194
Citigroup Capital XXI
8.300%, 12/21/2057 r			955		872
Fifth Third Bancorp
6.250%, 05/01/2013			445		384
HSBC Holdings
6.800%, 06/01/2038			530		497
JPMorgan Chase
6.000%, 01/15/2018 q			130		126
Series 1
7.900%, 04/29/2049 r			310		287
JPMorgan Chase Capital XX
Series T
6.550%, 09/29/2036			570		467
Lloyds TSB Group
6.267%, 12/31/2049 rn			340		268
National City Preferred Capital Trust I
12.000%, 12/29/2049 r			300		177
PNC Financial Services
8.250%, 05/29/2049 qr			440		422
UBS Preferred Funding Trust V
6.243%, 05/29/2049 r			545		465
Wachovia
5.750%, 02/01/2018			320		273
7.980%, 02/28/2049 r			730		561
Washington Mutual Preferred IV
9.750%, 10/29/2049 rn			400		184
Wells Fargo
5.625%, 12/11/2017			250		238
Wells Fargo Capital X
5.950%, 12/15/2036			230		195
Wells Fargo Capital XIII
Series GMTN
7.700%, 12/29/2049 r			1,140		1,080
					9,598
Basic Industry - 1.8%
Arcelormittal
6.125%, 06/01/2018 n			470		451
Braskem Finance
7.250%, 06/05/2018 n			405		403
Celulosa Arauco y Constitucion
5.625%, 04/20/2015			345		335
Evraz Group
8.250%, 11/10/2015 n			190		178
FMG Finance
10.000%, 09/01/2013 n			195		212
Freeport-McMoRan Copper & Gold
8.375%, 04/01/2017			350		367
Georgia-Pacific
7.125%, 01/15/2017 qn			190		175
Griffin Coal Mining
9.500%, 12/01/2016 n			200		158
International Paper
8.700%, 06/15/2038			185		186
Noble Group Limited
6.625%, 03/17/2015 n			255		221
Nova Chemicals
6.500%, 01/15/2012			200		182
Rio Tinto Financial U.S.A.
6.500%, 07/15/2018			265		266
Southern Copper
7.500%, 07/27/2035			190		182
Teck Cominco Limited
6.125%, 10/01/2035			280		237
U.S. Steel
7.000%, 02/01/2018			335		330
Vale Overseas
6.250%, 01/11/2016			175		174
Vedanta Resources
9.500%, 07/18/2018 n			195		193
					4,250
Brokerage - 1.9%
Bear Stearns
7.250%, 02/01/2018			290		302
Goldman Sachs Capital II
5.793%, 12/29/2049 r			1,015		672
Goldman Sachs Group
6.150%, 04/01/2018 q			450		434
6.750%, 10/01/2037			780		689
Lehman Brothers Holdings
6.500%, 07/19/2017			365		329
Series MTN
5.625%, 01/24/2013			485		453
Merrill Lynch
5.450%, 02/05/2013			305		283
6.050%, 05/16/2016			340		309
Morgan Stanley
5.375%, 10/15/2015			440		395
Series MTN
6.625%, 04/01/2018			650		602
					4,468
Capital Goods - 0.1%
Siemens Financiering
6.125%, 08/17/2026 n			225		211
Communications - 1.2%
AT&T
6.300%, 01/15/2038			195		183
British Sky Broadcasting
6.100%, 02/15/2018 n			510		496
British Telecom
5.950%, 01/15/2018			450		433
Comcast
6.400%, 05/15/2038			235		214
Embarq
7.082%, 06/01/2016			215		201
Rogers Communications
6.800%, 08/15/2018			195		195
Time Warner Cable
7.300%, 07/01/2038			370		370
Verizon Communications
6.900%, 04/15/2038			475		471
Vimpelcom
8.250%, 05/23/2016 n			230		220
					2,783
Consumer Cyclical - 1.0%
CVS Caremark
6.302%, 06/01/2037 r			340		292
Duty Free International
7.000%, 01/15/2004 ¥+è			588		-
Galaxy Entertainment
9.875%, 12/15/2012 qn			175		169
Home Depot
5.875%, 12/16/2036			270		213
Lippo Karawaci Finance
8.875%, 03/09/2011			175		168
Marfrig Overseas
9.625%, 11/16/2016 n			290		279
Rite Aid
7.500%, 03/01/2017			160		130
Shimao Property Holdings
8.000%, 12/01/2016 n			205		133
Viacom
6.875%, 04/30/2036			365		328
Wal-Mart Stores
6.200%, 04/15/2038			260		254
Whirlpool
Series MTN
5.500%, 03/01/2013			435		422
					2,388
Consumer Non Cyclical - 1.0%
AmerisourceBergen
5.625%, 09/15/2012			500		498
Cardinal Health
6.750%, 02/15/2011			325		336
Constellation Brands
7.250%, 05/15/2017			300		290
Covidien International
6.550%, 10/15/2037			435		423
Fisher Scientific International
6.750%, 08/15/2014			220		222
Kraft Foods
6.500%, 08/11/2017			255		256
Smithfield Foods
7.000%, 08/01/2011			250		230
UnitedHealth Group
6.875%, 02/15/2038			295		268
					2,523
Electric - 1.1%
Dynegy Holdings
7.750%, 06/01/2019 q			305		281
Energy Future Holdings
10.875%, 11/01/2017 qn			205		211
ISA Capital Brasil
8.800%, 01/30/2017 n			180		189
Nevada Power
6.500%, 08/01/2018			275		279
Ohio Power
Series K
6.000%, 06/01/2016			275		270
Oncor Electric Delivery
7.000%, 05/01/2032			225		212
Pacific Gas & Electric
6.050%, 03/01/2034			230		217
Taqa Abu Dhabi National Energy
6.165%, 10/25/2017 n			370		352
Transalta
6.650%, 05/15/2018			290		286
Virginia Electric Power
5.950%, 09/15/2017			240		242
					2,539
Energy - 1.5%
Encana
6.500%, 02/01/2038			170		164
Lukoil International Finance
6.356%, 06/07/2017 n			120		107
6.656%, 06/07/2022 n			460		396
Marathon Oil
5.900%, 03/15/2018			445		433
Mariner Energy
7.500%, 04/15/2013			270		256
Nexen
6.400%, 05/15/2037			310		287
Petro-Canada
6.800%, 05/15/2038			270		261
Pioneer Natural Resource
6.650%, 03/15/2017			290		269
Suncor Energy
6.100%, 06/01/2018			195		195
Tengizchevroil Finance
6.124%, 11/15/2014 n			344		327
Tesoro
6.625%, 11/01/2015			375		330
Weatherford International
7.000%, 03/15/2038			145		145
Whiting Petroleum
7.000%, 02/01/2014			295		284
XTO Energy
6.375%, 06/15/2038			205		190
					3,644
Finance - 1.3%
Capital One Financial
6.150%, 09/01/2016			400		325
CIT Group
5.650%, 02/13/2017			110		79
Credit Agricole
6.637%, 05/29/2049 n			275		217
General Electric Capital
5.625%, 05/01/2018			495		482
ILFC E-Capital Trust I
5.900%, 12/21/2065 rn			405		302
International Lease Finance
6.375%, 03/25/2013			205		177
Janus Capital Group
6.700%, 06/15/2017			305		283
Rockies Express Pipeline
7.500%, 07/15/2038 n			200		199
RSHB Capital
7.750%, 05/29/2018 n			250		242
SLM
Series MTN
5.400%, 10/25/2011			350		314
Transcapitalinvest
5.670%, 03/05/2014 n			640		592
					3,212
Insurance - 1.5%
Allied World Assurance
7.500%, 08/01/2016 q			565		531
American International Group
8.175%, 05/15/2058 rn			680		609
Chubb
5.750%, 05/15/2018			560		539
Genworth Financial
Series MTN
6.515%, 05/22/2018			325		289
Hartford Financial Services Group
Series MTN
6.000%, 01/15/2019			415		393
Liberty Mutual Group
7.000%, 03/15/2037 rn			235		191
MetLife Capital Trust IV
7.875%, 12/15/2037 n			330		304
ZFS Finance USA Trust V
6.500%, 05/09/2037 rn			755		647
					3,503
Natural Gas - 0.5%
Enterprise Products
8.375%, 08/01/2066			180		176
Kinder Morgan Energy Partners
Series MTN
6.950%, 01/15/2038			290		286
NGPL Pipeco
7.119%, 12/15/2017 n			230		232
Southern Union
7.200%, 11/01/2066 r			155		126
Transocean
6.000%, 03/15/2018			175		177
Transport De Gas Del Sur
7.875%, 05/14/2017 n			235		181
					1,178
Real Estate - 0.6%
Health Care Properties - REIT
Series MTN
6.300%, 09/15/2016			710		603
iStar Financial
8.625%, 06/01/2013			465		365
Prologis 2006 - REIT
5.750%, 04/01/2016			600		561
					1,529
Sovereigns - 1.3%
Australian Government
Series 122
5.250%, 03/15/2019 Þ	AUD		750		653
U.K. Government Treasury
5.250%, 06/07/2012 Þ	GBP		1,200		2,416
					3,069
Technology - 1.4%
Amkor Technologies
9.250%, 06/01/2016		$	285		270
Celestica
7.875%, 07/01/2011 q			295		297
Chartered Semiconductor
6.375%, 08/03/2015			250		236
Computer Sciences
6.500%, 03/15/2018 n			340		343
First Data
9.875%, 09/24/2015 n			405		358
Jabil Circuit
5.875%, 07/15/2010			680		663
LG Electronics
5.000%, 06/17/2010 n			340		336
National Semiconductor
6.600%, 06/15/2017			475		466
NXP BV/NXP Funding
9.500%, 10/15/2015 q			180		125
Seagate Technology
6.375%, 10/01/2011			290		281
					3,375
Transportation - 0.2%
BLT Finance BV
7.500%, 05/15/2014 n			135		92
Erac USA Finance
6.375%, 10/15/2017 n			265		224
Ultrapetrol
9.000%, 11/24/2014			145		134
					450
Water - 0.1%
American Water Capital
6.085%, 10/15/2017			260		250
Total Corporate Bonds
(Cost $53,044)					48,970
Asset-Backed Securities - 7.7%
Automotive - 0.4%
Hertz Vehicle Financing
Series 2005-2A, Class A6
5.080%, 11/25/2011 n			935		879
Credit Cards - 0.5%
Citibank Credit Card Issuance Trust
Series 2006-A4, Class A4
5.450%, 05/10/2013			805		821
Discover Card Master Trust
Series 2007-A1, Class A1
5.650%, 03/16/2020			275		257
					1,078
Home Equity - 0.0%
Saxon Asset Securities Trust
Series 2004-1, Class A
3.001%, 03/25/2035 r¥			4		4
Other - 6.8%
Banc of America Commercial Mortgage
Series 2004-5, Class A3
4.561%, 11/10/2041			710		689
Series 2006-2, Class A4
5.740%, 05/10/2045 r			340		323
Bear Stearns Commercial Mortgage Securities
Series 2007-T28, Class D
5.992%, 09/11/2042 rn			270		164
Series 2007-PW18, Class AJ
6.210%, 06/11/2050 r			295		237
Citigroup Commercial Mortgage Trust
Series 2008-C7, Class AJ
6.096%, 12/10/2049 r			355		283
Citigroup/Deutsche Bank Commercial Mortgage Trust
Series 2007-CD4, Class A2B
5.205%, 12/11/2049			230		223
Commercial Mortgage Pass-Through Certificates
Series 2006-CN2A, Class A2FX
5.449%, 02/05/2019 n			585		582
Series 2004-RS1, Class A
4.018%, 03/03/2041 n¥			414		359
Series 2005-LP5, Class A2
4.630%, 05/10/2043			558		555
Crown Castle Towers
Series 2005-1A, Class B
4.878%, 06/15/2035 n			630		606
GE Capital Commercial Mortgage Corporation
Series 2005-C3, Class A2
4.853%, 07/10/2045			725		722
Global Signal Trust
Series 2004-2A, Class A
4.232%, 12/15/2014 n			750		739
GMAC Commercial Mortgage Securities
Series 2005-C1, Class A2
4.471%, 05/10/2043			1,170		1,161
Greenwich Capital Commercial Funding
Series 2003-C1, Class A2
3.285%, 07/05/2035			929		905
GS Mortgage Securities II
Series 2006-GG8, Class A2
5.479%, 11/10/2039			1,500		1,482
Series 2007-GG10, Class A4
5.799%, 08/10/2045 r			310		290
Series 2006-RR2, Class A1
5.690%, 06/23/2046 rn¥			359		266
JPMorgan Chase Commercial Mortgage Securities
Series 2005-LDP5, Class B
5.334%, 12/15/2044 r			245		209
Series 2007-CB20, Class AJ
6.099%, 02/12/2051 r			320		255
LB-UBS Commercial Mortgage Trust
Series 2003-C3, Class A2
3.086%, 05/15/2027			68		68
Series 2005-C7, Class A2
5.103%, 11/15/2030			800		797
Series 2008-C1, Class AJ
6.150%, 04/15/2041			200		159
Series 2007-C7, Class AM
6.166%, 09/15/2045 r			370		337
Merrill Lynch Mortgage Trust
Series 2005-CIP1, Class C
5.128%, 07/12/2038 r			265		218
Series 2005-LC1, Class AM
5.266%, 01/12/2044 r			490		453
Series 2008-C1, Class A4
5.690%, 02/12/2051			695		639
Merrill Lynch/Countrywide Commercial Mortgage Trust
Series 2007-8, Class AM
5.957%, 08/12/2049 r			645		573
Morgan Stanley Capital I
Series 2005-HQ6, Class B
5.152%, 08/13/2042 r			115		97
Series 2005-HQ6, Class C
5.172%, 08/13/2042 r			110		92
Morgan Stanley Dean Witter Capital I
Series 2002-TOP7, Class A2
5.980%, 01/15/2039			1,025		1,032
Small Business Administration
Series 2006-P10B, Class 1
5.681%, 08/10/2016			1,092		1,107
Wachovia Bank Commercial Mortgage Trust
Series 2007-C34, Class AJ
5.953%, 05/15/2046 r			430		339
Series 2007-C33, Class AJ
5.903%, 02/15/2051 r			420		331
					16,292
Total Asset-Backed Securities
(Cost $19,049)					18,253
Collateralized Mortgage Obligation - Private Mortgage-Backed Securities - 7.6%
Adjustable Rate r - 3.2%
Citigroup Mortgage Loan Trust
Series 2004-HYB4, Class HAII
5.346%, 10/25/2034			1,916		1,503
Series 2005-7, Class 2A1A
4.862%, 09/25/2035			545		489
Countrywide Home Loans
Series 2006-HYB5, Class 3A1A
5.977%, 09/20/2036			1,187		871
Harborview Mortgage Loan Trust
Series 2007-4, Class 2A1
2.678%, 07/19/2047			1,040		629
JPMorgan Mortgage Trust
Series 2004-A1, Class 3A1
4.992%, 02/25/2034			1,067		960
Series 2006-A7, Class 3A4
5.941%, 01/25/2037			427		340
Residential Funding Mortgage Securities I
Series 2006-SA2, Class 4A1
5.863%, 08/25/2036			912		766
Structured Mortgage Loan Trust
Series 2004-11, Class A
7.195%, 08/25/2034			30		30
Wachovia Mortgage Loan Trust
Series 2005-B, Class 1A1
4.900%, 10/20/2035			395		375
Washington Mutual Pass-Through Certificates
Series 2004-AR7, Class A6
3.940%, 07/25/2034			775		761
Wells Fargo Mortgage Backed Securities Trust
Series 2003-D, Class A1
6.404%, 02/25/2033			124		124
Series 2006-AR1, Class 2A2
5.551%, 03/25/2036			862		810
					7,658
Fixed Rate - 4.4%
Banc of America Mortgage Securities
Series 2003-6, Class 1A30
4.750%, 08/25/2033			585		578
Countrywide Alternative Loan Trust
Series 2004-12CB, Class 1A1
5.000%, 07/25/2019			351		331
Series 2004-2CB, Class 1A1
4.250%, 03/25/2034			224		217
Series 2004-24CB, Class 1A1
6.000%, 11/25/2034			274		255
Series 2006-19CB, Class A15
6.000%, 08/25/2036			351		317
Countrywide Home Loans
Series 2007-17, Class 1A1
6.000%, 10/25/2037			1,199		1,121
Credit Suisse First Boston Mortgage Securities
Series 2005-3, Class 5A1
5.500%, 07/25/2020			485		473
Deutsche Alt-A Securities
Series 2006-AR5, Class 22A
5.500%, 10/25/2021			661		606
GMAC Mortgage Corporation Loan Trust
Series 2004-J5, Class A7
6.500%, 01/25/2035			466		455
GSMPS Mortgage Loan Trust
Series 2003-1, Class B1
6.948%, 03/25/2043			788		630
GSR Mortgage Loan Trust
Series 2004-10F, Class 3A1
5.500%, 08/25/2019			350		344
Master Alternative Loans Trust
Series 2005-2, Class 1A3
6.500%, 03/25/2035			229		206
Morgan Stanley Mortgage Loan Trust
Series 2004-9, Class 1A
6.206%, 11/25/2034			301		273
Residential Accredit Loans
Series 2006-QS4, Class A9
6.000%, 04/25/2036			1,102		949
Residential Asset Mortgage Products
Series 2004-SL4, Class A3
6.500%, 07/25/2032			205		194
Washington Mutual Mortgage Pass-Through Trust
Series 2007-2, Class 3A1
5.500%, 04/25/2022			599		553
Washington Mutual MSC Mortgage Pass-Through Trust
Series 2004-RA3, Class 2A
6.352%, 08/25/2038			345		342
Washington Mutual Pass-Through Certificates
Series 2004-CB1, Class 1A
5.250%, 06/25/2019			579		559
Wells Fargo Mortgage Backed Securities Trust
Series 2004-7, Class 2A2
5.000%, 07/25/2019			1,261		1,207
Series 2007-13, Class A8
6.000%, 09/25/2037			969		915
Westam Mortgage Financial
Series 11, Class A
6.360%, 08/26/2020  ¥			1		1
					10,526
Total Collateralized Mortgage Obligation - Private Mortgage-Backed Securities
(Cost $20,251)					18,184
U.S. Government Agency Mortgage-Backed Securities - 6.7%
Adjustable Rate r - 0.9%
Federal Home Loan Mortgage Corporation Pool
7.400%, 01/01/2028, #786281			111		113
5.771%, 07/01/2036, #1K1238 q			860		869
Federal National Mortgage Association Pool
6.164%, 04/01/2018, #070009			28		28
5.998%, 09/01/2033, #725553			486		494
5.262%, 11/01/2034, #735054 q			671		675
					2,179
Fixed Rate - 5.8%
Federal Home Loan Mortgage Corporation Pool
5.500%, 03/01/2013, #E00546			64		64
4.500%, 05/01/2018, #P10032			323		318
6.500%, 11/01/2028, #C00676			371		385
7.000%, 12/01/2029, #G01091			69		73
6.500%, 07/01/2031, #A17212			233		241
6.000%, 05/01/2032, #C01361			87		88
7.000%, 08/01/2037, #H09059 q			804		833
Federal National Mortgage Association Pool
6.000%, 09/01/2017, #653368			154		158
4.500%, 06/01/2019, #045181			266		259
6.000%, 10/01/2022, #254513 q			338		344
5.500%, 12/01/2024, #357662			637		632
6.000%, 08/01/2027, #256852 q			759		769
7.000%, 04/01/2029, #323681			77		81
6.500%, 12/01/2031, #254169 q			244		251
6.000%, 04/01/2032, #745101			679		686
6.500%, 05/01/2032, #640032			599		619
7.000%, 07/01/2032, #545815			135		143
6.000%, 09/01/2032, #254447 q			282		285
5.500%, 04/01/2033, #694605 q			828		815
5.500%, 06/01/2033, #843435			368		363
5.500%, 07/01/2033, #728667			408		402
5.000%, 09/01/2033, #713735			192		183
6.000%, 11/01/2033, #772130			154		155
6.000%, 11/01/2033, #772256			175		177
5.500%, 12/01/2033, #756202			606		597
5.500%, 04/01/2034, #725424 q			353		347
5.000%, 06/01/2034, #782909			337		322
6.500%, 06/01/2034, #735273 q			589		609
6.500%, 04/01/2036, #852909			529		544
6.500%, 07/01/2036, #831683 q			526		541
6.000%, 08/01/2036, #885536 q			1,290		1,298
6.500%, 08/01/2036, #893318 q			459		472
6.000%, 09/01/2037, #256890 q			542		541
Government National Mortgage Association Pool
6.500%, 10/20/2010, #002108			3		3
7.500%, 06/15/2027, #447728			4		5
7.500%, 09/15/2027, #455516			6		7
7.000%, 04/15/2029, #506639			144		154
					13,764
Total U.S. Government Agency Mortgage-Backed Securities
(Cost $15,980)					15,943
Collateralized Mortgage Obligation - U.S. Government Agency Mortgage-Backed Securities - 1.5%
Fixed Rate - 1.5%
Federal Home Loan Mortgage Corporation
Series 2763, Class TA
4.000%, 03/15/2011 q			450		461
Series 85, Class C
8.600%, 01/15/2021			64		68
Series 1136, Class H
6.000%, 09/15/2021			45		46
Federal National Mortgage Association
Series 1989-2, Class D
8.800%, 01/25/2019			4		4
Series 1989-37, Class G
8.000%, 07/25/2019			66		71
Series 1990-30, Class E
6.500%, 03/25/2020			26		27
Series 1990-63, Class H
9.500%, 06/25/2020			13		14
Series 1990-89, Class K
6.500%, 07/25/2020			3		3
Series 1990-105, Class J
6.500%, 09/25/2020			42		44
Series 2005-44, Class PC
5.000%, 11/25/2027 q			1,139		1,150
Series 2003-81, Class MB
5.000%, 05/25/2029			960		969
Series 2005-62, Class JE
5.000%, 06/25/2035 q			643		644
Government National Mortgage Association
Series 3, Class F
6.500%, 06/17/2020			5		5
Total Collateralized Mortgage Obligation - U.S. Government Agency Mortgage-Backed Securities
(Cost $3,438)					3,506
		SHARES
Preferred Stocks - 0.4%
Brokerage - 0.2%
Merrill Lynch q			27,400		563
Sovereign - 0.2%
Fannie Mae q			28,000		470
Total Preferred Stocks
(Cost $1,387)					1,033
		CONTRACTS
Options Purchased - 0.0%
Call Options Purchased - 0.0%
Eurodollar 90 Day Futures September 2008
Futures Call Expires 09/15/2008
Exercise Price: $97.50			87		3
Eurodollar 90 Day Futures September 2008
Futures Call Expires 09/15/2008
Exercise Price: $97.88			87		1
Total Purchased Options
(Cost $33)					4
		SHARES
Short-Term Investments - 2.1%
Money Market Fund - 1.3%
First American Prime Obligations Fund, Class Z ±			3,173,303		3,173
U.S. Treasury Obligations - 0.8%		PAR
U.S. Treasury Bills £
1.597%, 10/09/2008		$	620		618
1.668%, 11/20/2008			395		393
1.778%, 12/18/2008			600		596
1.705%, 01/22/2009			295		293
					1,900
Total Short-Term Investments
(Cost $5,072)					5,073
Investment Purchased with Proceeds from Securities Lending - 32.9%		SHARES
Mount Vernon Securities Lending Prime Portfolio †
(Cost $78,379 )			78,378,811		78,379
Total Investments u - 132.9%
(Cost $323,477)					316,891
Other Assets and Liabilities, Net - (32.9)%					(78,426	)
Total Net Assets- 100.0%				$	238,465

+	Security valuations for the fund's investments are furnished by an independent pricing service that has been approved by the fund's board of directors. Securities for which prices are not available from an independent pricing service, but where an active market exists, are valued using market quotations obtained from one or more dealers that make markets in the securities or from a widely-used quotation system. When market quotations are not readily available, securities are valued at fair value as determined in good faith by procedures established and approved by the fund's board of directors. Debt obligations with 60 days or less remaining until maturity may be valued at their amortized cost, which approximates market value. As of July 31, 2008, the fund held fair valued securities disclosed in footnote +.
l	Non-income producing security.
q	This security or a portion of this security is out on loan at July 31, 2008. Total loaned securities had a market value of $75,477 at July 31, 2008.
r	Variable Rate Security - The rate shown is the rate in effect as of July 31, 2008.
n	Security purchased within the terms of a private placement memorandum, exempt from registration under Rule 144A of the Securities Act of 1933, as amended, and may be sold only to dealers in that program or other "qualified institutional buyers." These securities have been determined to be liquid under the guidelines established by the fund's board of directors. As of July 31, 2008, the value of these investments was $14,197 or 6.0% of total net assets.
¥	Security considered illiquid. As of July 31, 2008, the value of these investments were $630 or 0.3% of total net assets:
				Dates
	Security	Par		Acquired		Cost Basis
	Commercial Mortgage Pass-Through Certificates,
	Series 2004-RS1, Class A	$414		2/07		$         403
	Duty Free International	588		1/99-11/02		588
	GS Mortgage Securities II, Series 2006-RR2, Class A1	359		7/06		353
	Saxon Asset Securities Trust, Series 2004-1, Class A	4		1/04		4
	Westam Mortgage Financial, Series 11, Class A	1		10/02		1
+	Security is fair valued. As of July 31, 2008, the fair value of this investment was $0 or 0.0% of total net assets.
è	Security is in default at July 31, 2008.
Þ	Foreign denominated security values are stated in U.S. dollars. Principal amounts are U.S. dollars unless otherwise noted.
±	Investment in affiliated security. This money market fund is advised by FAF Advisors Inc., which also serves as advisor to this fund.
£	Security has been deposited as initial margin on open futures contracts and/or swap agreements. Yield shown is effective yield as of July 31, 2008.
†	In order to generate additional income, the fund may loan securities representing up to one third of the value of its total assets (which includes collateral for securities on loan) to broker-dealers, banks, or other institutional borrowers of securities. The fund maintains collateral equal to at least 100% of the value of the securities loaned. The adequacy of the collateral is monitored on a daily basis. The cash collateral received by the fund is invested in this affiliated money market fund.
u	On July 31, 2008, the cost of investments for federal income tax purposes was approximately $323,477.  The approximate aggregate gross unrealized appreciation and depreciation of investments, based on this cost, were as follows:
	Gross unrealized appreciation			$  9,660
	Gross unrealized depreciation			(16,246	)
	Net unrealized depreciation			$ (6,586	)
REIT - Real Estate Investment Trust
	Schedule of Open Futures Contracts
		Number of
		Contracts		Notional			Unrealized
		Purchased		Contract		Settlement	Appreciation
	Description	(Sold)		Value		Month	(Depreciation)
	Australian Dollar Currency Futures	7		$         656		September 2008	$—
	British Pounds Currency Futures	(27	)	(3,335	)	September 2008	(29	)
	Euro Currency Futures	12		2,334		September 2008	(42	)
	Eurodollar 90 Day Futures	26		25,221		December 2008	(2	)
	Euro Bund Futures	24		4,212		September 2008	43
	S&P 500 Futures	17		5,385		September 2008	(395	)
	Sterling 90 Day Futures	20		18,744		March 2009	40
	U.S. Treasury 2 Year Note Futures	(64	)	(13,568	)	September 2008	—
	U.S. Treasury 5 Year Note Futures	(41	)	(4,565	)	September 2008	(22	)
	U.S. Treasury 10 Year Note Futures	(77	)	(8,842	)	September 2008	1
	U.S. Treasury Long Bond Futures	(8	)	(924	)	September 2008	1
							$        (405	)

Credit Default Swap Agreements
							Unrealized
	Reference	Buy/Sell	Pay/Receive		Expiration	Notional	Appreciation
Counterparty	Entity	Protection	Fixed Rate		Date	Amount	(Depreciation)
Bank of America	Dow Jones CDX IG10 Index	Sell	1.550	%	06/20/2013	$      2,900	$            (3	)
Deutsche Bank	Dow Jones CDX HVOL9 Index	Sell	1.400	%	12/20/2012	3,200	23
Deutsche Bank	Dow Jones CDX HVOL10 Index	Sell	3.500	%	06/20/2013	9,100	(199	)
Deutsche Bank	Dow Jones CDX HY10 Index	Sell	5.000	%	06/20/2013	1,500	(42	)
Deutsche Bank	Dow Jones CDX IG9 Index	Sell	0.600	%	12/20/2012	1,800	13
Deutsche Bank	Dow Jones CDX IG10 Index	Sell	1.550	%	06/20/2013	3,700	(1	)
Deutsche Bank	Markit CMBX AJ4 Index	Sell	0.960	%	02/17/2051	300	1
JPMorgan	Deutsche Bank AG	Buy	0.525	%	09/20/2012	600	3
JPMorgan	Dow Jones CDX HY9 Index	Sell	3.750	%	12/20/2012	2,079	50
JPMorgan	Dow Jones CDX HVOL9 Index	Sell	1.400	%	12/20/2012	1,400	31
JPMorgan	Dow Jones CDX IG10 Index	Sell	1.550	%	06/20/2013	4,200	(16	)
JPMorgan	Dow Jones iTraxx Asia ex-Japan Index	Sell	6.500	%	06/20/2013	3,700	151
JPMorgan	GAP, Inc.	Buy	1.230	%	12/20/2012	430	(6	)
JPMorgan	Markit ABX AAA071 Index	Sell	0.090	%	08/25/2037	600	(69	)
JPMorgan	Markit CMBX AJ4 Index	Sell	0.960	%	02/17/2051	950	(40	)
UBS	AmerisourceBergen Corporation	Buy	0.585	%	09/20/2012	500	1
UBS	Cardinal Health, Inc.	Buy	0.320	%	09/20/2012	500	1
UBS	Dow Jones CDX HVOL10 Index	Sell	3.500	%	06/20/2013	1,800	(74	)
UBS	Dow Jones CDX HY10 Index	Sell	5.000	%	06/20/2013	2,900	(58	)
UBS	Markit ABX AAA071 Index	Sell	0.090	%	08/25/2037	600	16
UBS	Markit CMBX AJ4 Index	Sell	0.960	%	02/17/2051	900	(18	)
UBS	Republic of Korea	Buy	1.050	%	09/20/2015	1,100	(7	)
UBS	Turkey Government International Bond	Buy	1.480	%	07/20/2012	700	21
UBS	Whirlpool Corporation	Buy	0.785	%	09/20/2017	350	15
							$        (207	)
Interest Rate Swap Agreements
	Floating	Pay/					Unrealized
	Rate	Receive	Fixed		Expiration	Notional	Appreciation
Counterparty	Index	Floating Rate	Rate		Date	Amount	(Depreciation)
UBS	3-Month LIBOR	Pay	4.568	%	10/02/2009	7,100	120
UBS	3-Month LIBOR	Pay	2.795	%	04/18/2010	3,000	(28	)
UBS	3-Month LIBOR	Pay	3.418	%	05/30/2010	3,000	4
UBS	3-Month LIBOR	Pay	3.343	%	07/18/2010	6,000	(8	)
							$           88
Schedule of Open Written Call Options
		Exercise	Premium		Expiration	Number of
Option		Price	Received		Date	Contracts	Value
U.S. Treasury 10 Year Note Futures - September 2008		$    116.00	$           30		08/22/2008	38	$           15
U.S. Treasury 10 Year Note Futures - September 2008		117.00	6		08/22/2008	19	4
U.S. Treasury 10 Year Note Futures - September 2008		117.50	21		08/22/2008	38	5
U.S. Treasury 10 Year Note Futures - September 2008		118.00	14		08/22/2008	38	3
			$           71				$           27

Schedule of INVESTMENTS July 31, 2008 (unaudited), all dollars are rounded to thousands (000)
Equity Income Fund
DESCRIPTION	SHARES		VALUE +
Common Stocks - 98.3%
Consumer Discretionary - 6.5%
Lowe's q		517,450	$	10,514
McDonald's q		355,665		21,265
Time Warner q		775,675		11,108
Yum! Brands q		425,200		15,231
				58,118
Consumer Staples - 10.6%
Altria Group q		332,471		6,766
Coca-Cola q		284,165		14,634
General Mills q		210,116		13,529
Kraft Foods, Class A		230,078		7,321
Philip Morris International		332,471		17,172
Procter & Gamble		181,408		11,879
Wal-Mart Stores q		401,171		23,517
				94,818
Energy - 14.9%
BP - ADR q		560,290		34,424
Chevron q		352,577		29,814
ConocoPhillips q		397,988		32,484
Exterran Partners		194,416		4,981
Exxon Mobil		389,224		31,305
				133,008
Financials - 15.6%
AllianceBernstein Holding		516,599		26,837
American International Group q		183,254		4,774
Annaly Capital Management - REIT q		473,883		7,141
Bank of America q		556,072		18,295
Barclays - ADR q		428,488		11,655
BB&T q		623,871		17,481
BlackRock q		44,537		9,651
Citigroup		892,767		16,686
Goldman Sachs Group q		60,660		11,164
ICICI Bank - ADR q		210,823		6,242
TCF Financial q		733,541		9,353
				139,279
Healthcare - 10.3%
Abbott Laboratories		517,478		29,155
Bristol-Myers Squibb		668,755		14,124
Johnson & Johnson q		350,238		23,981
Medtronic q		194,497		10,275
Merck q		269,784		8,876
Pfizer q		277,791		5,186
				91,597
Industrials - 10.5%
3M q		163,737		11,526
Emerson Electric		450,766		21,952
General Dynamics q		179,817		16,029
General Electric		665,323		18,822
Tyco International q		266,989		11,897
United Parcel Service, Class B q		219,672		13,857
				94,083
Information Technology - 13.1%
CA q		695,624		16,597
Hewlett-Packard q		271,473		12,162
IBM		121,759		15,583
Intel q		710,642		15,769
Maxim Integrated Products q		378,459		7,433
Microsoft		768,936		19,777
Nortel Networks l		4,320		33
QUALCOMM		387,742		21,458
Texas Instruments		343,412		8,372
				117,184
Materials - 5.0%
E.I. Du Pont de Nemours q		460,487		20,174
Praxair q		256,628		24,054
				44,228
Telecommunication Services - 8.1%
AT&T		1,053,938		32,472
FairPoint Communications q		1,335,635		9,269
Verizon Communications q		580,116		19,747
Windstream q		871,379		10,387
				71,875
Utilities - 3.7%
Duke Energy q		273,976		4,816
PNM Resources q		672,213		7,872
Westar Energy q		461,908		10,199
Xcel Energy q		511,554		10,262
				33,149
Total Common Stocks
(Cost $690,671)				877,339
Short-Term Investment - 1.3%
First American Prime Obligations Fund, Class Z ±
(Cost $11,245)		11,244,704		11,245
Investment Purchased with Proceeds from Securities Lending - 45.4%
Mount Vernon Securities Lending Prime Portfolio †
(Cost $405,239)		405,238,733		405,239
Total Investments u - 145.0%
(Cost $1,107,155)				1,293,823
Other Assets and Liabilities, Net - (45.0)%				(401,503	)
Total Net Assets - 100.0%			$	892,320

+	Security valuations for the fund's investments are furnished by an independent pricing service that has been approved by the fund's board of directors. Securities for which prices are not available from an independent pricing service, but where an active market exists, are valued using market quotations obtained from one or more dealers that make markets in the securities or from a widely-used quotation system. When market quotations are not readily available, securities are valued at fair value as determined in good faith by procedures established and approved by the fund's board of directors. Debt obligations with 60 days or less remaining until maturity may be valued at their amortized cost, which approximates market value. As of July 31, 2008, the fund held no fair valued securities.
q	This security or a portion of this security is out on loan at July 31, 2008. Total loaned securities had a value of $388,354 at July 31, 2008.
l	Non-income producing security.
±	Investment in affiliated security. This money market fund is advised by FAF Advisors, Inc., which also serves as advisor to this fund.
†	In order to generate additional income, the fund may loan securities representing up to one third of the value of its total assets (which includes collateral for securities on loan) to broker-dealers, banks, or other institutional borrowers of securities. The fund receives collateral equal to at least 100% of the value of the securities loaned. The adequacy of the collateral is monitored on a daily basis. The cash collateral received by the fund is invested in this affiliated money market fund.
u	On July 31, 2008, the cost of investments for federal income tax purposes was approximately $1,107,155.  The approximate aggregate gross unrealized appreciation and depreciation of investments, based on this cost, were as follows:
	Gross unrealized appreciation	$233,520
	Gross unrealized depreciation	(46,852	)
	Net unrealized appreciation	$186,668
ADR -	American Depository Receipt
REIT -	Real Estate Investment Trust

Schedule of INVESTMENTS July 31, 2008 (unaudited), all dollars are rounded to thousands (000)
Equity Index Fund
DESCRIPTION	SHARES		VALUE +
Common Stocks - 96.8%
Consumer Discretionary - 8.0%
Abercrombie & Fitch, Class A q		11,371	$	628
Amazon.com q l		40,389		3,083
Apollo Group, Class A q l		18,269		1,138
AutoNation q l		22,089		228
Autozone q l		5,959		776
Bed Bath & Beyond q l		38,887		1,082
Best Buy q		46,030		1,828
Big Lots ql		15,103		460
Black & Decker		8,553		513
Carnival q		55,099		2,035
CBS, Class B q		100,923		1,651
Centex q		16,605		244
Clear Channel Communications		63,270		2,278
Coach ql		48,936		1,248
Comcast, Class A q		394,233		8,129
D.R. Horton q		36,386		405
Darden Restaurants q		17,181		560
Dillard's, Class A q		7,931		80
DIRECTV Group ql		96,523		2,608
Eastman Kodak q		36,377		533
Expedia ql		26,736		523
Family Dollar Stores q		20,084		468
Ford Motor ql		298,511		1,433
Fortune Brands q		18,207		1,043
GameStop, Class A ql		20,839		844
Gannett q		30,876		559
Gap q		59,763		963
General Motors q		74,394		824
Genuine Parts		22,321		895
Goodyear Tire & Rubber ql		28,683		563
H&R Block q		43,023		1,047
Harley-Davidson q		31,680		1,199
Harman International Industries		8,014		330
Hasbro		20,413		790
Home Depot q		204,899		4,883
IAC/InterActiveCorp ql		29,008		507
International Game Technology q		43,313		940
Interpublic Group of Companies ql		52,864		465
J.C. Penney q		29,172		899
Johnson Controls q		77,271		2,331
Jones Apparel Group q		15,492		259
KB HOME q		10,225		180
Kohl's ql		39,467		1,654
Leggett & Platt q		23,814		464
Lennar q		18,470		224
Limited Brands q		45,159		745
Liz Claiborne q		13,815		181
Lowe's q		199,518		4,054
Macy's q		59,163		1,113
Marriott International, Class A q		41,962		1,087
Mattel		49,785		998
McDonald's q		151,718		9,071
McGraw-Hill q		50,281		2,045
New York Times, Class A q		18,572		234
Newell Rubbermaid q		34,753		574
News, Class A q		304,474		4,302
Nike, Class B q		48,559		2,849
Nordstrom q		26,122		751
Office Depot ql		36,155		246
Omnicom Group q		42,645		1,821
Polo Ralph Lauren q		8,037		476
Pulte Homes		28,387		347
RadioShack q		18,134		302
Scripps Networks Interactive, Class A ql		9,642		391
Sears ql		9,966		807
Sherwin-Williams q		13,900		740
Snap-On q		7,515		423
Stanley Works q		10,399		463
Staples q		94,067		2,117
Starbucks ql		97,165		1,427
Starwood Hotels & Resorts Worldwide q		27,493		943
Target q		103,653		4,688
Tiffany & Company q		19,311		730
Time Warner q		496,627		7,112
TJX		55,825		1,882
VF q		11,229		804
Viacom, Class B l		84,250		2,353
Walt Disney q		257,604		7,818
Wendy's International		11,392		261
Whirlpool q		10,073		763
Wyndham Worldwide q		23,480		421
Yum! Brands q		66,440		2,380
				121,513
Consumer Staples - 10.8%
Altria Group		274,659		5,589
Anheuser-Busch q		100,119		6,784
Archer-Daniels-Midland q		84,474		2,419
Avon Products q		61,932		2,626
Brown-Forman, Class B q		9,802		705
Campbell Soup q		22,667		825
Clorox q		19,409		1,058
Coca-Cola		265,900		13,694
Coca-Cola Enterprises q		27,966		474
Colgate-Palmolive q		66,412		4,932
ConAgra Foods q		68,863		1,493
Constellation Brands, Class A ql		24,689		531
Costco Wholesale		57,269		3,590
CVS Caremark q		190,315		6,947
Dean Foods ql		16,805		358
Estee Lauder, Class A q		9,159		404
General Mills q		41,712		2,686
H.J. Heinz q		43,169		2,175
Hershey q		23,485		864
Kellogg q		32,956		1,749
Kimberly-Clark q		55,770		3,225
Kraft Foods, Class A		202,396		6,440
Kroger q		93,359		2,640
Lorillard ql		21,508		1,443
McCormick q		17,266		692
Molson Coors Brewing, Class B q		13,329		719
Pepsi Bottling Group		17,733		494
PepsiCo		216,411		14,404
Philip Morris International l		274,604		14,183
Procter & Gamble		410,734		26,895
Reynolds American q		22,355		1,248
Safeway q		57,553		1,538
Sara Lee		98,012		1,339
SUPERVALU q		27,090		694
Sysco q		85,909		2,436
Tyson Foods, Class A q		32,060		478
UST q		21,107		1,110
Walgreen q		129,740		4,455
Wal-Mart Stores q		311,855		18,281
Whole Foods Market q		18,486		410
Wrigley, William Jr.		26,187		2,068
				165,095
Energy - 13.5%
Anadarko Petroleum q		62,067		3,594
Apache q		43,397		4,868
Baker Hughes		44,450		3,685
BJ Services q		38,680		1,137
Cabot Oil & Gas		12,958		570
Cameron International ql		28,819		1,376
Chesapeake Energy q		64,036		3,211
Chevron q		281,425		23,797
ConocoPhillips q		210,985		17,221
CONSOL Energy q		23,904		1,778
Devon Energy q		59,510		5,647
El Paso		91,432		1,639
ENSCO International q		19,043		1,317
EOG Resources q		32,800		3,297
Exxon Mobil		703,497		56,582
Halliburton q		123,671		5,543
Hess q		36,039		3,654
Marathon Oil		91,023		4,503
Murphy Oil q		22,744		1,813
Nabors Industries ql		38,170		1,392
National-Oilwell Varco ql		55,278		4,347
Noble Energy		22,644		1,673
Noble q		36,181		1,877
Occidental Petroleum		107,808		8,499
Peabody Energy q		34,768		2,352
Range Resources q		19,891		966
Rowan q		14,190		565
Schlumberger q		155,243		15,773
Smith International q		25,556		1,901
Southwestern Energy l		46,690		1,695
Spectra Energy q		76,797		2,087
Sunoco q		15,907		646
Tesoro q		17,957		277
Transocean ql		41,951		5,707
Valero Energy		71,807		2,399
Weatherford International ql		88,140		3,326
Williams q		78,325		2,510
XTO Energy q		67,677		3,196
				206,420
Financials - 14.8%
AFLAC q		64,373		3,580
Allstate		74,461		3,442
American Capital Strategies q		25,768		524
American Express q		156,499		5,809
American International Group q		357,997		9,326
Ameriprise Financial		30,054		1,277
AON		42,229		1,934
Apartment Investment & Management - REIT q		13,342		456
Assurant q		13,004		782
AvalonBay Communities - REIT q		10,424		1,039
Bank of America q		601,479		19,789
Bank Of New York Mellon q		148,627		5,276
BB&T q		69,235		1,940
Boston Properties - REIT q		15,535		1,494
Capital One Financial		54,670		2,288
CB Richard Ellis Group ql		24,532		345
Charles Schwab		124,730		2,855
Chubb q		46,476		2,233
Cincinnati Financial q		20,060		558
CIT Group q		37,452		318
Citigroup		724,863		13,548
CME Group q		7,077		2,549
Comerica q		21,473		617
Developers Diversified Realty - REIT q		16,366		523
Discover Financial Services q		64,396		943
E*TRADE Financial ql		62,986		190
Equity Residential Properties Trust - REIT q		38,250		1,651
Fannie Mae q		141,710		1,630
Federated Investors, Class B		10,706		352
Fifth Third Bancorp q		71,028		992
First Horizon National q		24,870		234
Franklin Resources		21,594		2,173
Freddie Mac q		85,247		696
General Growth Properties - REIT q		31,837		873
Genworth Financial, Class A		57,899		925
Goldman Sachs Group q		53,489		9,844
Hartford Financial Services Group q		36,363		2,305
HCP - REIT q		27,918		1,007
Host Hotels & Resorts - REIT q		68,467		898
Hudson City Bancorp q		68,839		1,257
Huntington Bancshares q		48,639		341
IntercontinentalExchange l		9,313		929
Janus Capital Group q		23,238		705
JPMorgan Chase q		459,364		18,664
KeyCorp q		64,645		682
Kimco Realty - REIT q		33,060		1,167
Legg Mason q		15,856		640
Lehman Brothers Holdings q		92,755		1,608
Leucadia National q		21,419		959
Lincoln National		39,435		1,881
Loew's q		54,592		2,433
M&T Bank q		10,310		726
Marsh & McLennan q		67,178		1,898
Marshall & Ilsley q		33,808		514
MBIA q		26,423		157
Merrill Lynch q		178,879		4,767
MetLife q		94,177		4,781
MGIC Investment q		13,007		83
Moody's q		29,198		1,016
Morgan Stanley q		145,148		5,730
National City q		100,879		477
Northern Trust q		25,491		1,993
NYSE Euronext q		34,500		1,630
Plum Creek Timber - REIT q		24,021		1,170
PNC Financial Services Group q		45,053		3,212
Principal Financial Group q		40,006		1,701
Progressive q		94,734		1,918
ProLogis - REIT q		33,478		1,636
Prudential Financial q		61,333		4,230
Public Storage - REIT q		16,544		1,355
Regions Financial q		94,877		899
SAFECO q		15,179		1,004
Simon Property Group - REIT q		29,170		2,702
SLM ql		59,192		1,014
Sovereign Bancorp q		62,587		596
State Street q		54,636		3,914
SunTrust Banks q		43,462		1,785
T. Rowe Price Group q		35,043		2,097
Torchmark		13,554		787
Travelers		82,101		3,622
U.S. Bancorp q ±		234,491		7,178
UnumProvident q		43,909		1,061
Vornado Realty Trust - REIT q		17,001		1,616
Wachovia q		284,631		4,916
Washington Mutual q		197,567		1,053
Wells Fargo q		427,104		12,928
XL Capital, Class A q		34,107		610
Zions Bancorporation		12,756		373
				225,630
Healthcare - 12.2%
Abbott Laboratories		200,684		11,307
Aetna		67,135		2,753
Allergan q		40,165		2,086
AmerisourceBergen q		23,706		993
Amgen ql		141,906		8,888
Applied Biosystems q		25,894		956
Barr Pharmaceuticals ql		14,359		947
Baxter International q		85,312		5,853
Becton, Dickinson & Company		32,594		2,768
Biogen IDEC ql		38,644		2,696
Boston Scientific ql		155,300		1,846
Bristol-Myers Squibb		256,861		5,425
C.R. Bard q		13,399		1,244
Cardinal Health q		49,355		2,652
Celgene ql		57,777		4,362
CIGNA q		37,682		1,395
Coventry Health Care ql		20,518		726
Covidien		64,450		3,173
DaVita ql		9,597		536
Eli Lilly q		129,447		6,098
Express Scripts ql		33,734		2,380
Forest Laboratories l		41,606		1,477
Genzyme ql		33,854		2,595
Gilead Sciences ql		122,042		6,588
Hospira ql		21,308		813
Humana l		21,101		927
IMS Health		25,744		538
Intuitive Surgical ql		5,275		1,642
Johnson & Johnson q		378,917		25,944
King Pharmaceuticals ql		31,748		365
Laboratory Corporation of America ql		14,819		1,001
McKesson q		39,242		2,197
Medco Health Solutions ql		67,467		3,345
Medtronic q		153,590		8,114
Merck		281,351		9,256
Millipore ql		6,208		437
Mylan Laboratories ql		39,625		514
Patterson Companies ql		17,869		558
PerkinElmer		17,564		511
Pfizer		897,877		16,763
Quest Diagnostics q		20,484		1,089
Schering-Plough		211,084		4,450
St. Jude Medical ql		44,137		2,056
Stryker q		36,912		2,369
Tenet Healthcare ql		62,115		360
Thermo Fisher Scientific ql		52,120		3,154
UnitedHealth Group		163,595		4,594
Varian Medical Systems ql		16,672		1,000
Watson Pharmaceuticals ql		14,253		412
WellPoint l		72,028		3,778
Wyeth q		175,757		7,122
Zimmer Holdings ql		32,152		2,216
				185,269
Industrials - 11.1%
3M q		94,195		6,630
Allied Waste Industries l		25,448		308
Avery Dennison q		13,972		615
Boeing		102,381		6,257
Burlington Northern Santa Fe		39,316		4,094
C.H. Robinson Worldwide q		22,353		1,077
Caterpillar q		82,469		5,733
Cintas q		17,347		493
Cooper Industries, Class A q		24,002		1,012
CSX q		57,153		3,862
Cummins q		27,292		1,811
Danaher q		30,087		2,396
Deere & Company q		58,924		4,134
Dover q		20,749		1,030
Eaton		18,801		1,336
Emerson Electric		106,047		5,165
Equifax q		16,556		581
Expeditors International of Washington q		25,007		888
FedEx q		39,251		3,095
Fluor		23,621		1,922
General Dynamics		49,675		4,428
General Electric		1,335,732		37,788
Goodrich q		15,425		758
Honeywell International q		102,298		5,201
Illinois Tool Works		52,252		2,448
Ingersoll-Rand, Class A q		45,390		1,634
ITT q		23,579		1,579
Jacobs Engineering Group ql		16,115		1,246
L-3 Communications Holdings q		16,329		1,612
Lockheed Martin q		45,747		4,773
Manitowoc q		16,369		431
Masco q		49,494		816
Monster Worldwide ql		16,534		293
Norfolk Southern		53,522		3,849
Northrop Grumman		45,809		3,087
Paccar q		49,025		2,062
Pall		16,213		655
Parker Hannifin q		22,605		1,394
Pitney Bowes q		21,955		696
Precision Castparts		17,839		1,667
R.R. Donnelley & Sons		28,544		762
Raytheon q		56,941		3,242
Robert Half International q		21,093		533
Rockwell Automation		21,989		979
Rockwell Collins q		22,720		1,129
Ryder System q		7,846		518
Southwest Airlines q		104,096		1,623
Terex l		13,201		625
Textron		34,535		1,501
Tyco International q		64,580		2,878
Union Pacific		69,627		5,740
United Parcel Service, Class B q		138,792		8,755
United Technologies		129,357		8,276
W.W. Grainger q		10,014		896
Waste Management		68,291		2,427
				168,740
Information Technology - 16.1%
Adobe Systems ql		77,948		3,223
Advanced Micro Devices ql		79,620		335
Affiliated Computer Services, Class A ql		12,968		625
Agilent Technologies ql		51,728		1,865
Akamai Technologies ql		22,400		523
Altera q		46,997		1,032
Analog Devices q		40,630		1,240
Apple ql		116,556		18,527
Applied Materials q		180,708		3,130
Autodesk ql		29,494		941
Automatic Data Processing q		69,026		2,948
BMC Software ql		26,764		880
Broadcom, Class A ql		61,584		1,496
CA q		54,035		1,289
Ciena ql		11,252		233
Cisco Systems ql		791,491		17,405
Citrix Systems ql		24,918		664
Cognizant Technology Solutions, Class A ql		37,523		1,053
Computer Sciences ql		21,985		1,041
Compuware ql		40,046		440
Convergys l		18,243		232
Corning		205,367		4,109
Dell ql		269,095		6,612
eBay ql		148,339		3,734
Electronic Arts ql		39,631		1,711
Electronic Data Systems		61,705		1,531
EMC ql		274,146		4,115
Fidelity National Information Services		21,263		403
Fiserv ql		24,291		1,162
Google, Class A ql		30,946		14,661
Hewlett-Packard		327,400		14,667
IBM		178,269		22,815
Intel q		750,828		16,661
Intuit ql		45,793		1,252
Jabil Circuit		27,207		442
JDS Uniphase ql		28,894		316
Juniper Networks ql		69,530		1,810
KLA-Tencor q		22,642		851
Lexmark International, Class A ql		12,346		433
Linear Technology q		28,992		900
LSI Logic ql		101,536		705
MasterCard, Class A q		9,694		2,367
MEMC Electronic Materials l		29,992		1,386
Microchip Technology		28,754		918
Micron Technology ql		100,319		485
Microsoft		1,068,391		27,479
Molex q		18,529		454
Motorola q		302,817		2,616
National Semiconductor		31,555		661
NetApp ql		48,093		1,229
Novell l		50,023		279
Novellus Systems ql		17,537		357
NVIDIA ql		71,886		822
Oracle ql		515,809		11,105
Paychex		42,850		1,411
QLogic ql		21,126		398
QUALCOMM		217,921		12,060
SanDisk ql		29,797		420
Seagate Technology, Escrow Shares l §		44,886		-
Sun Microsystems ql		117,583		1,250
Symantec ql		118,212		2,491
Tellabs ql		59,498		306
Teradata l		23,586		552
Teradyne ql		25,137		236
Texas Instruments		176,155		4,295
Total System Services		17,696		346
Tyco Electronics q		64,577		2,140
Unisys ql		41,770		154
VeriSign ql		25,788		839
Waters ql		14,518		986
Western Union q		101,280		2,799
Xerox q		123,393		1,683
Xilinx		37,183		923
Yahoo! ql		176,593		3,512
				244,971
Materials - 3.7%
Air Products and Chemicals q		29,347		2,794
AK Steel Holding q		14,902		946
Alcoa		114,815		3,875
Allegheny Technologies q		13,411		634
Ashland		9,121		381
Ball q		13,371		596
Bemis q		13,617		384
Dow Chemical q		126,281		4,206
E.I. Du Pont de Nemours q		118,351		5,185
Eastman Chemical q		9,384		563
Ecolab q		23,835		1,065
Freeport-McMoRan Copper & Gold q		51,024		4,937
Hercules q		13,904		279
International Flavors & Fragrances q		8,826		355
International Paper q		56,981		1,580
Massey Energy q		10,668		792
MeadWestvaco q		23,355		626
Monsanto q		72,774		8,668
Newmont Mining q		60,452		2,899
Nucor q		39,393		2,254
Pactiv ql		19,046		459
PPG Industries q		21,770		1,320
Praxair		42,483		3,982
Rohm & Haas		17,791		1,334
Sealed Air q		21,070		457
Sigma-Aldrich q		17,295		1,051
Titanium Metals q		11,263		127
United States Steel		15,502		2,486
Vulcan Materials q		13,092		840
Weyerhaeuser		28,973		1,549
				56,624
Telecommunication Services - 3.0%
American Tower, Class A ql		53,862		2,257
AT&T		791,054		24,372
CenturyTel		14,318		533
Embarq q		19,564		895
Frontier Communications		44,918		519
Qwest Communications International q		210,072		805
Sprint Nextel		378,507		3,081
Verizon Communications q		376,587		12,819
Windstream q		62,151		741
				46,022
Utilities - 3.6%
AES ql		87,644		1,415
Allegheny Energy		21,635		1,047
Ameren q		25,240		1,037
American Electric Power q		50,183		1,982
CenterPoint Energy		41,450		654
CMS Energy q		29,904		404
Consolidated Edison q		28,929		1,148
Constellation Energy		23,615		1,964
Dominion Resources q		75,391		3,331
DTE Energy q		21,072		864
Duke Energy q		164,528		2,892
Dynegy, Class A l		65,852		443
Edison International q		41,434		2,003
Entergy q		30,448		3,256
Exelon		87,763		6,900
FirstEnergy		42,562		3,130
FPL Group q		52,874		3,412
Integrys Energy Group q		10,150		518
Nicor q		5,952		237
NiSource		35,810		612
Pepco Holdings q		26,030		649
PG&E q		50,323		1,939
Pinnacle West Capital q		13,094		440
PPL q		50,425		2,368
Progress Energy q		31,216		1,321
Public Service Enterprise Group q		66,217		2,768
Questar q		22,945		1,213
Sempra Energy q		34,516		1,938
Southern q		94,290		3,337
TECO Energy q		27,369		508
Xcel Energy		53,200		1,067
				54,797
Total Common Stocks
(Cost $953,817)				1,475,081
Short-Term Investments - 0.6%
Money Market Fund - 0.4%
First American Prime Obligations Fund, Class Z  ±		5,701,438		5,701
U.S. Treasury Obligation - 0.2%
U.S. Treasury Bill £	PAR
1.778%, 12/18/2008	$	3,100		3,079
Total Short-Term Investments
(Cost $8,776)				8,780
Investment Purchased with Proceeds from Securities Lending - 45.4%	SHARES
Mount Vernon Securities Lending Prime Portfolio †
(Cost $691,263)		691,262,899		691,263
Total Investments u - 142.8%
(Cost $1,653,856)				2,175,124
Other Assets and Liabilities, Net - (42.8)%				(652,024	)
Total Net Assets - 100.0%			$	1,523,100

+	Security valuations for the fund's investments are furnished by an independent pricing service that has been approved by the fund's board of directors. Securities for which prices are not available from an independent pricing service, but where an active market exists, are valued using market quotations obtained from one or more dealers that make markets in the securities or from a widely-used quotation system. When market quotations are not readily available, securities are valued at fair value as determined in good faith by procedures established and approved by the fund's board of directors. Debt obligations with 60 days or less remaining until maturity may be valued at their amortized cost, which approximates market value. As of July 31, 2008, the fund held fair valued securities as disclosed in footnote §.
q	This security or a portion of this security is out on loan at July 31, 2008. Total loaned securities had a market value of $663,199 at July 31, 2008.
l	Non-income producing security.
±	Investment in affiliated security. As of July 31, 2008, the market value of these investments was $12,879 or 0.8% of total net assets.
§	Security is fair valued and illiquid. As of July 31, 2008, the value of this investment was $0 or 0.0% of total net assets:
			Dates
	Security	Shares	Acquired	Cost Basis
	Seagate Technology, Escrow Shares	44,886	11/2000-11/2002	$                   —
£	Security has been deposited as initial margin on open futures contracts. Yield shown is effective yield as of July 31, 2008.
†	In order to generate additional income, the fund may loan securities representing up to one third of the value of its total assets (which includes collateral for securities on loan) to broker-dealers, banks, or other institutional borrowers of securities. The fund maintains collateral equal to at least 100% of the value of the securities loaned. The adequacy of the collateral is monitored on a daily basis. The cash collateral received by the fund is invested in this affiliated money market fund.
u	On July 31, 2008, the cost of investments for federal income tax purposes was approximately $1,653,856.  The approximate aggregate gross unrealized appreciation and depreciation of investments, based on this cost, were as follows:
	Gross unrealized appreciation	$654,881
	Gross unrealized depreciation	(133,613	)
	Net unrealized appreciation	$521,268
	REIT - Real Estate Investment Trust
	Schedule of Open Futures Contracts
		Number of	Notional
		Contracts	Contract	Settlement	Unrealized
	Description	Purchased	Value	Month	Depreciation
	S&P 500 Futures	152	$48,150	September 2008	$(931	)

Schedule ofINVESTMENTS July 31, 2008 (unaudited), all dollars are rounded to thousands (000)
Mid Cap Index Fund
DESCRIPTION	SHARES		VALUE +
Common Stocks - 95.5%
Consumer Discretionary - 11.2%
99 Cents Only Stores l		12,059	$	81
Advance Auto Parts		24,344		1,000
Aeropostale l q		17,196		555
American Eagle Outfitters q		55,083		771
American Greetings, Class A		15,091		224
AnnTaylor Stores lq		15,762		355
ArvinMeritor q		18,515		256
Barnes & Noble q		12,360		292
Belo, Class A q		22,502		153
BLYTH q		7,178		104
Bob Evans Farms q		9,065		260
Borders Group q		16,072		79
BorgWarner		29,765		1,200
Boyd Gaming q		14,383		144
Brinker International		27,071		498
Callaway Golf		17,160		218
CarMax lq		55,321		741
Charming Shoppes lq		30,204		165
Cheesecake Factory lq		18,318		258
Chico's FAS lq		44,971		250
Chipotle Mexican Grill, Class A lq		8,453		579
Coldwater Creek lq		15,661		102
Collective Brands lq		16,848		217
Corinthian Colleges lq		21,675		341
DeVry		15,288		868
Dick's Sporting Goods l		21,245		373
Dollar Tree lq		24,160		906
DreamWorks Animation, Class A l		16,730		497
Entercom Communications q		6,767		41
Foot Locker q		39,923		601
Furniture Brands International q		12,809		152
Gentex q		37,797		584
Guess ? q		13,941		441
Hanesbrands lq		24,582		527
Harte-Hanks q		12,816		159
Hovnanian Enterprises, Class A lq		9,344		66
International Speedway, Class A		7,947		292
John Wiley & Sons, Class A		10,912		495
Lamar Advertising, Class A lq		20,185		767
Lear l		19,753		285
Lee Enterprises q		12,181		37
Life Time Fitness lq		8,611		257
M.D.C. Holdings q		8,928		371
Marvel Entertainment lq		12,592		437
Matthews International, Class A		8,025		401
Media General, Class A q		6,371		81
Modine Manufacturing		8,818		154
Mohawk Industries lq		13,879		818
Netflix lq		12,528		387
NVR lq		1,319		728
O'Reilly Automotive lq		28,512		728
Pacific Sunwear of California lq		17,725		154
PetSmart q		33,050		751
Phillips Van-Heusen q		13,191		467
Priceline.com l		9,543		1,097
Regis q		11,927		334
Rent-A-Center lq		18,211		386
Ross Stores q		35,126		1,333
Ryland Group q		11,280		232
Saks lq		35,300		360
Scholastic q		6,534		168
Scientific Games, Class A lq		16,688		506
Service International q		69,176		662
Strayer Education q		3,698		824
Thor Industries q		9,126		179
Timberland, Class A lq		12,887		185
Toll Brothers lq		32,534		654
TravelCenters,  fractional share l§		0.70		-
Tupperware q		15,313		597
Under Armour, Class A lq		7,280		212
Urban Outfitters lq		28,782		950
Valassis Communications lq		12,464		110
Warnaco Group lq		11,874		498
Williams-Sonoma q		22,625		395
				31,350
Consumer Staples - 3.1%
Alberto-Culver q		21,583		579
BJ's Wholesale Club lq		16,645		625
Church & Dwight		16,281		893
Corn Products International		19,200		893
Energizer Holdings lq		14,891		1,062
Hansen Natural lq		15,524		355
Hormel Foods		18,660		675
JM Smucker		15,084		735
Lancaster Colony		5,566		181
NBTY l		13,182		455
PepsiAmericas		15,563		368
Ralcorp Holdings l		6,397		345
Ruddick q		8,644		268
Smithfield Foods lq		28,350		609
Tootsie Roll Industries q		7,190		188
Universal q		6,949		359
				8,590
Energy - 9.0%
Arch Coal		37,056		2,087
Bill Barrett lq		8,497		350
Cimarex Energy q		20,577		1,072
Denbury Resources lq		62,881		1,769
Encore Acquisition l		12,817		793
Exterran Holdings lq		16,344		922
FMC Technologies lq		33,234		2,053
Forest Oil lq		22,557		1,286
Frontier Oil q		27,167		496
Helix Energy Solutions Group l		21,038		672
Helmerich & Payne		26,664		1,577
Newfield Exploration lq		33,200		1,626
Overseas Shipholding Group		6,989		550
Patriot Coal l		8,114		1,024
Patterson-UTI Energy q		39,700		1,128
Pioneer Natural Resources q		32,155		1,912
Plains Exploration & Production l		28,918		1,618
Pride International lq		41,796		1,620
Quicksilver Resources lq		28,660		750
Superior Energy Services lq		20,805		987
Tidewater q		15,092		905
				25,197
Financials - 15.0%
Affiliated Managers Group lq		10,559		912
Alexandria Real Estate Equities - REIT q		8,007		827
AMB Property - REIT q		25,615		1,254
American Financial Group		17,612		510
AmeriCredit lq		30,449		267
Apollo Investment q		32,171		512
Arthur J. Gallagher q		24,123		613
Associated Banc-Corp q		34,129		570
Astoria Financial q		21,082		472
Bank of Hawaii q		13,566		684
BRE Properties - REIT q		12,922		632
Brown & Brown q		29,001		510
Camden Property Trust - REIT q		14,291		703
Cathay General Bancorp q		10,346		165
City National		10,384		510
Colonial BancGroup q		39,123		261
Commerce Bancshares q		16,401		716
Cousins Properties - REIT q		11,464		252
Cullen/Frost Bankers q		13,077		690
Duke Realty - REIT q		36,507		903
Eaton Vance q		32,183		1,195
Equity One - REIT q		9,549		184
Everest Re Group		16,388		1,341
Federal Realty Investment Trust - REIT q		15,117		1,098
Fidelity National Title Group q		55,466		741
First American q		24,113		608
First Niagara Financial Group q		22,837		319
FirstMerit q		21,947		432
GATX q		12,542		570
Hanover Insurance Group q		13,282		570
HCC Insurance Holdings		29,271		663
Health Care - REIT q		22,862		1,140
Highwoods Properties - REIT q		14,489		529
Horace Mann Educators		11,053		153
Hospitality Properties Trust - REIT q		23,366		498
Jefferies Group q		28,703		545
Jones Lang LaSalle q		8,185		390
Liberty Property Trust - REIT		22,972		836
Macerich - REIT q		18,585		1,028
Mack-Cali Realty - REIT q		17,315		665
Mercury General q		9,169		463
Nationwide Health Properties - REIT q		23,875		886
New York Community Bancorp q		83,132		1,382
Old Republic International q		58,884		618
PacWest Bancorp q		5,593		104
Philadelphia Consolidated Holding l		11,124		650
PMI Group		20,911		52
Potlatch - REIT q		9,902		461
Protective Life		17,907		644
Raymond James Financial q		24,136		697
Rayonier - REIT q		20,209		944
Realty Income - REIT q		25,770		649
Regency Centers - REIT q		17,046		1,014
SEI Investments q		32,262		743
StanCorp Financial Group		13,251		654
SVB Financial lq		9,656		556
Synovus Financial q		84,102		800
TCF Financial q		28,555		364
UDR - REIT q		34,495		881
Unitrin		13,325		368
W.R. Berkley		38,243		903
Waddell & Reed Financial, Class A		21,774		727
Washington Federal q		23,667		440
Webster Financial q		14,652		291
Weingarten Realty Investors - REIT q		21,304		650
Westamerica Bancorporation q		7,626		397
Wilmington Trust q		17,531		413
				42,219
Healthcare - 10.4%
Advanced Medical Optics lq		15,492		269
Affymetrix lq		17,734		140
Apria Healthcare Group lq		11,242		216
Beckman Coulter		15,892		1,150
Cephalon lq		17,131		1,253
Cerner lq		16,803		750
Charles River Laboratories International lq		17,538		1,166
Community Health Systems l		24,525		809
Covance lq		16,215		1,489
DENTSPLY International		39,530		1,591
Edwards Lifesciences lq		15,032		942
Endo Pharmaceuticals Holdings lq		31,538		730
Gen-Probe lq		13,528		721
Health Management Associates, Class A l		62,127		382
Health Net l		28,200		789
Henry Schein lq		22,551		1,208
Hill-Rom Holdings q		15,697		441
Hologic lq		65,224		1,205
IDEXX Laboratories l		12,920		691
Invitrogen lq		24,768		1,099
Kindred Healthcare lq		8,130		219
Kinetic Concepts lq		13,760		481
Lifepoint Hospitals lq		14,926		427
Lincare Holdings lq		18,851		607
Medicis Pharmaceutical, Class A q		13,192		242
Mine Safety Appliances q		6,722		222
Omnicare q		31,575		930
PDL BioPharma q		30,083		336
Perrigo q		19,938		702
Pharmaceutical Product Development		26,771		1,021
Psychiatric Solutions lq		14,117		494
Resmed lq		19,471		736
Sepracor lq		28,696		502
STERIS q		16,631		568
Techne lq		9,690		771
Universal Health Services q		13,666		829
Valeant Pharmaceuticals International lq		23,584		404
Varian l		8,202		405
VCA Antech l		21,043		613
Vertex Pharmaceuticals lq		36,259		1,251
WellCare Health Plans l		10,659		419
				29,220
Industrials - 17.0%
AGCO lq		23,679		1,417
AirTran Holdings lq		23,284		68
Alaska Air Group lq		9,801		175
Alexander & Baldwin q		10,639		462
Alliant Techsystems lq		8,622		853
AMETEK		27,530		1,318
Avis Budget Group l		26,590		162
BE Aerospace l		23,594		606
Brinks		11,475		791
Career Education lq		24,425		448
Carlisle Companies		15,329		469
ChoicePoint l		17,479		836
Con-way q		11,611		587
Copart lq		18,507		812
Corporate Executive Board		9,110		341
Corrections Corporation of America l		32,116		900
Crane		13,028		463
Deluxe q		13,393		192
Donaldson q		17,754		801
DRS Technologies		10,535		830
Dun & Bradstreet		14,921		1,442
Dycom Industries lq		10,837		172
Fastenal q		32,361		1,581
Federal Signal q		12,290		177
Flowserve		14,758		1,968
Graco q		16,158		585
Granite Construction q		8,779		278
Harsco q		21,352		1,155
Herman Miller q		15,727		411
HNI q		11,819		256
Hubbell, Class B q		14,891		628
IDEX q		20,383		771
ITT Educational Services lq		7,960		705
J.B. Hunt Transport Services q		22,832		844
JetBlue Airways lq		45,563		240
Joy Global q		27,687		2,000
Kansas City Southern lq		19,668		1,082
KBR		43,502		1,240
Kelly Services, Class A q		5,117		94
Kennametal q		20,181		601
Korn/Ferry International lq		11,475		201
Lincoln Electric Holdings		11,073		890
Manpower		20,813		999
MSC Industrial Direct, Class A q		12,037		574
Navigant Consulting l		11,770		217
Nordson q		8,707		615
Oshkosh Truck q		18,846		340
Pentair q		25,642		888
Quanta Services lq		43,328		1,338
Republic Services		41,284		1,342
Rollins		10,974		187
Roper Industries q		22,407		1,371
Shaw Group l		21,130		1,221
Sotheby's Holdings, Class A q		17,096		474
SPX		14,305		1,814
Stericycle lq		22,209		1,327
Teleflex q		10,147		622
Thomas & Betts l		13,096		542
Timken q		24,144		797
Trinity Industries q		20,776		782
United Rentals lq		12,090		196
URS l		21,498		901
Werner Enterprises q		11,588		276
Westinghouse Air Brake Technologies q		12,409		689
YRC Worldwide lq		14,710		249
				47,613
Information Technology - 13.6%
3Com l		102,416		192
ACI Worldwide lq		9,519		186
Acxiom		17,333		223
ADC Telecommunications lq		29,973		284
ADTRAN		15,658		350
Advent Software lq		5,314		231
Alliance Data Systems lq		20,172		1,294
Amphenol, Class A		45,840		2,185
ANSYS l		21,025		965
Arrow Electronics l		31,145		1,003
Atmel l		122,636		433
Avnet l		38,402		1,047
Avocent lq		13,119		312
Broadridge Financial Solutions		35,050		725
Cadence Design Systems lq		69,562		514
CommScope lq		17,016		759
Cree lq		21,709		421
Cypress Semiconductor lq		39,441		1,075
Diebold q		17,018		629
Digital River lq		10,453		417
DST Systems lq		11,925		721
F5 Networks lq		21,574		629
Fair Isaac q		12,922		288
Fairchild Semiconductor International l		31,275		380
FLIR Systems lq		34,648		1,412
Foundry Networks l		38,701		675
Gartner, Class A lq		17,857		435
Global Payments q		20,537		910
Harris		34,750		1,673
Imation q		8,382		160
Ingram Micro, Class A lq		37,440		690
Integrated Device Technology lq		44,182		443
International Rectifier lq		18,469		312
Intersil, Class A q		33,633		812
Jack Henry & Associates q		19,428		419
Lam Research lq		32,067		1,055
Lender Processing Services l		20,180		673
Macrovision Solutions lq		20,536		312
McAfee lq		41,179		1,349
Mentor Graphics lq		22,950		319
Metavante Technologies		22,730		506
MPS Group lq		27,021		311
National Instruments		14,424		491
NCR l		45,802		1,230
Palm q		26,653		175
Parametric Technology lq		29,414		570
Plantronics q		12,385		302
Polycom lq		22,904		540
RF Micro Devices lq		73,363		240
Semtech lq		16,874		246
Silicon Laboratories l		12,564		411
SRA International, Class A lq		9,394		206
Sybase lq		22,262		748
Synopsys l		35,941		863
Tech Data l		14,149		493
Trimble Navigation lq		28,776		955
ValueClick lq		25,218		300
Vishay Intertechnology l		48,208		432
Western Digital lq		56,102		1,615
Wind River Systems lq		19,509		229
Zebra Technology, Class A lq		17,709		546
				38,321
Materials - 8.2%
Airgas		21,087		1,208
Albemarle		20,313		791
AptarGroup q		17,514		678
Cabot Microelectronics		17,384		466
Carpenter Technology		13,105		507
CF Industries Holdings		12,343		2,018
Chemtura q		63,772		416
Cleveland-Cliffs q		26,988		2,926
Commercial Metals		30,029		896
Cytec Industries		10,758		581
Ferro q		10,910		237
FMC q		19,505		1,451
Louisiana Pacific q		27,041		229
Lubrizol		17,779		885
Martin Marietta Materials q		11,053		1,160
Minerals Technologies		5,156		333
Olin q		18,195		541
Packaging Corporation of America q		23,751		606
Reliance Steel & Aluminum q		16,560		1,046
RPM International q		30,589		627
Scotts Miracle-Gro, Class A q		11,109		216
Sensient Technologies		11,847		369
Sonoco Products		26,017		849
Steel Dynamics		48,204		1,527
Temple-Inland q		25,503		414
Terra Industries q		23,852		1,288
Valspar q		25,472		552
Worthington Industries q		16,895		300
				23,117
Telecommunication Services - 0.6%
Cincinnati Bell lq		62,851		245
NeuStar, Class A lq		19,351		406
Telephone & Data Systems		27,297		1,157
				1,808
Utilities - 7.4%
AGL Resources		19,926		689
Alliant Energy		32,258		1,040
Aqua America q		33,961		538
Black Hills q		9,228		298
DPL q		30,339		770
Energen q		18,502		1,114
Energy East		40,090		1,002
Equitable Resources q		31,013		1,620
Great Plains Energy q		28,803		728
Hawaiian Electric Industries q		21,142		523
IDACORP q		10,983		327
MDU Resources Group q		46,855		1,495
National Fuel Gas q		20,415		1,017
Northeast Utilities q		39,441		992
NSTAR q		28,007		892
OGE Energy		22,054		722
ONEOK		27,622		1,256
PNM Resources q		19,657		230
Puget Energy		30,902		851
SCANA		29,908		1,082
Sierra Pacific Resources		58,995		669
Vectren q		19,935		582
Westar Energy q		26,642		588
WGL Holdings q		12,634		436
Wisconsin Energy		30,687		1,385
				20,846
Total Common Stocks
(Cost $220,749)			268,281
Short-Term Investments - 5.4%
Money Market Fund - 5.0%
First American Prime Obligations Fund, Class Z ±		14,084,181		14,084
U.S. Treasury Obligation - 0.4%	PAR
U.S. Treasury Bill
1.778%, 12/18/2008 £	$	1,000		993
Total Short-Term Investments
(Cost $15,076)				15,077
Investment Purchased with Proceeds from Securities Lending - 47.8%	SHARES
Mount Vernon Securities Lending Prime Portfolio †
(Cost $134,172)		134,171,554		134,172
Total Investments u - 148.7%
(Cost $369,997)			417,530
Other Assets and Liabilities, Net - (48.7)%			(136,675		)
Total Net Assets - 100.0%			$	280,855

+	Security valuations for the fund's investments are furnished by an independent pricing service that has been approved by the fund's board of directors. Securities for which prices are not available from an independent pricing service, but where an active market exists, are valued using market quotations obtained from one or more dealers that make markets in the securities or from a widely-used quotation system. When market quotations are not readily available, securities are valued at fair value as determined in good faith by procedures established and approved by the fund's board of directors. Debt obligations with 60 days or less remaining until maturity may be valued at their amortized cost, which approximates market value. As of July 31, 2008, the fund held fair valued securities as described in footnote §.
l	Non-income producing security.
q	This security or a portion of this security is out on loan at July 31, 2008. Total loaned securities had a market value of $127,668 at July 31, 2008.
§	Security is fair valued and illiquid.  As of July 31, 2008, the value of this investment was $0 or 0.0% of total net assets.
				Date
	Security	Shares		Acquired		Cost Basis
	TravelCenters, Fractional Share	0.70		10/2001		—
±	Investment in affiliated security. This money market fund is advised by FAF Advisors, Inc., which also serves as advisor to this fund.
£	Security has been deposited as initial margin on open futures contracts and/or swap agreements. Yield shown is effective yield as of July 31, 2008.
†	In order to generate additional income, the fund may loan securities representing up to one third of the value of its total assets (which includes collateral for securities on loan) to broker-dealers, banks, or other institutional borrowers for securities.  The fund maintains collateral equal to at least 100% of the value of the securities loaned.  The adequacy of the collateral is monitored on a daily basis.  The cash collateral received by the fund is invested in this affiliated money market fund.
u	On July 31, 2008, the cost of investments for federal income tax purposes was approximately $369,997.  The approximate aggregate gross unrealized appreciation and depreciation of investments, based on this cost, were as follows:
	Gross unrealized appreciation		$84,569
	Gross unrealized depreciation		(37,036	)
	Net unrealized appreciation		$47,533
REIT -	Real Estate Investment Trust
	Schedule of Open Futures Contracts
		Number of		Notional
		Contracts		Contract	Settlement	Unrealized
	Description	Purchased		Value	Month	Depreciation
	S&P Mid Cap 400 Futures	31		$12,460	September 2008	$(765	)

Schedule of INVESTMENTS July 31, 2008 (unaudited), all dollars are rounded to thousands (000)
Small Cap Index Fund
DESCRIPTION	SHARES		VALUE+
Common Stocks - 90.5%
Consumer Discretionary - 11.1%
1-800-Flowers.com, Class A l	$	1,917	$	11
99 Cents Only Stores l		3,439		23
Aaron Rents		3,323		91
Aeropostale lq		4,899		158
AFC Enterprises l		1,940		15
AH Belo, Class A		1,500		8
Ambassadors Group		1,404		22
American Apparel lq		2,421		14
American Axle & Manufacturing Holdings q		3,373		20
American Greetings, Class A q		3,533		52
American Public Education lq		787		36
America's Car-Mart l		717		14
Amerigon l		1,601		11
Ameristar Casinos q		1,838		24
Andersons q		1,309		59
Arbitron		1,940		91
ArvinMeritor q		5,397		75
Asbury Automotive Group		2,282		23
ATC Technology l		1,555		39
Avatar Holdings lq		437		14
Bally Technologies lq		4,007		127
Beazer Homes USA q		2,701		17
Bebe Stores q		2,744		28
Belo, Class A q		6,528		44
Big 5 Sporting Goods		1,718		14
BJ's Restaurants l		1,135		12
Blockbuster, Class A lq		13,248		37
Blount International l		2,851		32
Blue Nile lq		987		38
Bluegreen l		934		11
BLYTH q		1,782		26
Bob Evans Farms		2,114		61
Borders Group q		4,325		21
Brookfield Homes q		966		13
Brown Shoe q		3,147		51
Brunswick q		6,262		81
Buckle		1,105		57
Buffalo Wild Wings lq		1,272		42
Build-A-Bear Workshop lq		1,170		8
Cabelas lq		2,808		33
Cache l		853		12
California Pizza Kitchen l		1,737		23
Callaway Golf		4,844		61
Capella Education Company lq		1,042		54
Carters l		4,046		67
Casual Male Retail Group l		2,664		11
Cato, Class A q		2,032		36
Cavco Industries l		462		16
CBRL Group q		1,535		37
CEC Entertainment l		1,581		55
Champion Enterprise l		5,620		22
Charlotte Russe Holding l		1,413		18
Charming Shoppes lq		8,114		44
Charter Communications, Class A lq		28,388		32
Cheesecake Factory lq		4,795		67
Cherokee		594		12
Chico's FAS lq		12,925		72
Children's Place Retail Stores l		1,710		65
China Direct l		487		4
Christopher & Banks q		2,583		22
Churchill Downs		684		26
Cinemark Holdings q		1,951		29
Circuit City Stores q		12,070		24
Citadel Broadcasting lq		12,466		11
Citi Trends lq		1,020		24
CKE Restaurants		3,893		48
CKX l		3,806		30
Coinstar lq		2,012		69
Coldwater Creek lq		4,069		27
Collective Brands lq		4,625		60
Columbia Sportswear q		895		33
Conn's lq		699		11
Cooper Tire & Rubber q		4,261		39
Core Mark Holding l		598		16
Corinthian Colleges lq		6,237		98
Courier		801		14
Cox Radio l		2,105		21
Crocs lq		6,096		27
Crown Media Holdings, Class A lq		1,767		7
CSS Industries		538		15
Cumulus Media, Class A lq		2,367		7
Dana Holding lq		7,250		46
Deckers Outdoor lq		956		108
Denny's l		7,982		21
DG Fastchannel l		1,091		19
Dillard's, Class A q		4,079		41
DineEquity q		1,211		28
Dolan Media l		1,567		33
Domino's Pizza lq		2,714		35
Dorman Products l		784		9
Dover Downs Gaming & Entertainment		942		8
Dover Motorsports		1,083		5
Dress Barn lq		3,295		53
Drew Industries lq		1,425		21
Drugstore.com q		5,974		13
DSW lq		1,048		14
Einstein Noah Restaurant Group l		314		4
Entercom Communications q		2,069		13
Entravision Communications l		4,525		14
Ethan Allen Interiors q		1,663		42
Exide Technologies lq		5,511		87
FGX International Holdings Limited l		994		12
Finish Line, Class A l		3,105		34
Fisher Communications l		409		15
Fleetwood Enterprises lq		4,872		14
Fossil lq		3,322		89
Fred's q		2,924		38
Fuel Systems Solutions l		885		33
Fuqi International l		697		6
Furniture Brands International q		3,338		40
Gaiam, Class A l		1,277		19
Gatehouse Media q		2,261		1
Gaylord Entertainment lq		2,992		90
Genesco lq		1,396		41
GenTek l		618		18
G-iii Apparel Group l		968		15
Global Sources lq		1,242		17
Gray Television		3,058		8
Great Wolf Resorts lq		1,961		8
Group 1 Automotive q		1,677		33
GSI Commerce lq		1,678		26
Gymboree lq		2,059		77
Harte-Hanks q		2,624		33
Haverty Furniture q		1,350		15
Hayes Lemmerz International l		7,228		17
Helen of Troy lq		2,079		43
hhgregg lq		892		9
Hibbett Sports lq		2,187		46
Hooker Furniture		657		11
Hot Topic l		3,202		20
Hovnanian Enterprises, Class A lq		3,356		24
Iconix Brand Group lq		4,223		51
Idearc		10,538		14
Insight Enterprises l		3,434		44
Interactive Data		2,347		68
Interface, Class A q		3,856		46
iRobot lq		1,279		18
Isle of Capri Casinos lq		1,132		7
J. Crew Group l		3,103		89
Jack in the Box lq		4,304		93
JAKKS Pacific l		2,006		44
Jo-Ann Stores lq		1,815		40
Jos. A. Bank Clothiers lq		1,301		29
Journal Communications, Class A		2,895		14
K12 l		449		11
Kenneth Cole Productions		692		10
Kimball International		2,283		24
Knology l		2,053		21
Krispy Kreme Doughnuts lq		4,526		20
K-Swiss, Class A q		1,927		30
Landry's Restaurants q		849		12
La-Z-Boy q		3,520		26
LeapFrog Enterprises l		2,610		25
Lear l		5,079		73
Lee Enterprises q		3,185		10
Libbey		983		9
Life Time Fitness lq		2,551		76
Lin TV, Class A l		1,865		11
Live Nation lq		5,418		68
Lodgian l		1,271		9
Luby's l		1,542		11
Lululemon Athletica lq		1,288		29
Lumber Liquidators lq		672		10
M/I Homes q		1,015		19
Maidenform Brands l		1,611		25
Marcus q		1,450		23
Marine Products q		1,141		8
MarineMax lq		1,037		7
Martha Stewart Living lq		1,824		13
Marvel Entertainment lq		3,605		125
Matthews International, Class A q		2,384		119
McClatchy q		4,068		17
Media General, Class A q		1,536		19
Mediacom Communications l		3,986		23
Men's Wearhouse q		3,781		75
Meritage Homes lq		2,195		40
Midas l		1,017		15
Modine Manufacturing		2,364		41
Monarch Casino & Resort lq		901		11
Monro Muffler Brake		1,248		23
Morgans Hotel Group lq		1,930		28
Movado Group		1,174		25
National Cinemedia		3,082		39
National Presto Industries q		321		23
Nautilus q		2,239		11
Netflix lq		2,956		91
New York & Company l		1,725		17
NutriSystem q		2,238		38
O'Charleys		1,902		21
Orbitz Worldwide lq		2,649		16
Outdoor Channel Holdings l		1,164		8
Overstock.com lq		1,122		20
Oxford Industries		1,030		22
P.F. Chang's China Bistro lq		1,638		43
Pacific Sunwear of California lq		5,199		45
Palm Harbor Homes lq		836		7
Papa John's International l		1,462		41
PC Mall l		791		7
Pep Boys - Manny, Moe & Jack q		3,091		23
Perry Ellis International l		790		17
PetMed Express lq		1,697		25
Pier 1 Imports lq		6,443		24
Pinnacle Entertainment lq		4,392		50
Playboy Enterprises, Class B l		1,742		8
Polaris Industries q		2,466		106
Pool q		3,503		77
Prestige Brand Holdings lq		2,247		22
Primedia		3,018		12
Quantum Fuel Systems Technologies Worldwide lq		4,960		9
Quiksilver lq		9,232		71
R.H. Donnelley & Sons l		4,919		8
Raser Technologies lq		3,301		33
RC2 lq		1,219		28
RCN l		2,692		33
Red Robin Gourmet Burgers lq		1,294		32
Regis q		3,037		85
Rent-A-Center lq		4,888		104
Retail Ventures l		2,067		9
Rex Stores l		636		8
Rick's Cabaret International l		432		7
Riviera Holdings l		695		6
Ruby Tuesday q		3,747		26
Russ Berrie and Company l		1,148		11
Ruth's Chris Steak House lq		1,344		6
Ryland Group q		3,105		64
Sally Beauty Holdings lq		6,825		50
Sauer-Danfoss		850		25
Scholastic q		2,087		54
Sealy q		3,092		21
Shoe Carnival lq		669		10
Shuffle Master lq		2,645		13
Shutterfly l		1,407		13
Sinclair Broadcast Group, Class A		3,477		26
Six Flags lq		5,265		6
Skechers U.S.A., Class A l		2,405		45
Skyline		507		13
Smith & Wesson l		2,686		12
Sonic lq		4,360		66
Sonic Automotive, Class A q		1,985		20
Spartan Motors q		2,375		13
Speedway Motorsports		948		18
Stage Stores		2,808		42
Stamps.com l		1,192		16
Standard-Pacific q		7,403		25
Steak 'N Shake lq		2,025		14
Stein Mart q		1,838		8
Steiner Leisure l		1,201		37
Steinway Musical Instruments l		658		18
Steven Madden l		1,294		29
Stoneridge l		981		13
Superior Industries International q		1,647		28
SYMS q		475		8
Systemax q		797		13
Talbots q		1,769		25
Tempur-Pedic International q		5,404		51
Tenneco Automotive lq		3,414		49
Texas Roadhouse, Class A lq		4,031		37
thinkorswim Group l		3,766		30
Timberland, Class A lq		3,502		50
TiVo l		7,287		56
Town Sports International Holdings l		1,266		13
Tractor Supply lq		2,441		93
Triarc, Class B q		4,569		25
True Religion Apparel lq		1,250		32
Tuesday Morning lq		2,107		8
Tupperware q		4,485		175
Tween Brands lq		1,774		24
Ulta Salon, Cosmetics & Fragrance lq		1,452		14
Under Armour lq		2,414		70
Unifi l		3,228		10
UniFirst		1,027		46
Universal Electronics l		1,031		23
Vail Resorts lq		2,264		91
Valassis Communications lq		3,477		31
VistaPrint lq		3,234		83
Visteon l		9,599		27
Volcom lq		1,331		24
Warnaco Group lq		3,334		140
Westwood One l		4,797		6
Wet Seal, Class A lq		6,583		29
Weyco Group q		519		15
Winnebago Industries q		2,198		28
Wonder Auto Technology l		1,051		9
WMS Industries lq		3,215		91
Wolverine World Wide		3,601		96
World Wrestling Entertainment q		1,609		26
Xerium Technologies q		1,483		7
Zale lq		2,569		57
Zumiez lq		1,439		21
				9,704
Consumer Staples - 2.9%
Agfeed Industries l		1,419		20
Alico		330		14
Alliance One International l		7,019		31
American Dairy lq		520		6
American Oriental Bioengineering lq		4,521		43
Arden Group, Class A		83		12
B & G Foods		1,437		13
Boston Beer, Class A lq		602		27
Cadiz lq		796		16
Calavo Growers q		741		8
Cal-Maine Foods q		938		36
Casey's General Stores q		3,715		91
Central Garden & Pet, Class A l		4,657		19
Chattem lq		1,258		81
China Sky One Med lq		530		6
Chiquita Brands International lq		3,132		48
Coca-Cola Bottling		346		12
Darling International lq		5,969		97
Diamond Foods		1,147		28
Elizabeth Arden l		1,690		28
Farmer Brothers		456		12
Flowers Foods q		5,280		159
Fresh Del Monte Produce lq		2,999		63
Great Atlantic & Pacific Tea lq		2,521		40
Green Mountain Coffee Roasters lq		1,308		48
Griffin Land & Nurseries		244		8
Hain Celestial Group lq		2,897		76
HQ Sustainable Maritime Industries l		476		7
Imperial Sugar		903		13
Ingles Markets, Class A		889		22
Inter Parfums		1,004		15
J&J Snack Foods q		1,047		33
Lancaster Colony		1,422		46
Lance q		2,118		39
Lifeway Foods l		346		5
Longs Drug Stores q		2,226		104
M & F Worldwide lq		911		35
Mannatech q		1,380		9
Maui Land & Pineapple l		372		11
Nash-Finch q		912		36
National Beverage l		714		6
Nu Skin Enterprises, Class A		3,472		56
Omega Protein l		1,313		20
Pantry lq		1,559		25
Peet's Coffee & Tea lq		1,034		20
Pilgrim's Pride q		3,304		40
PriceSmart		1,032		24
Ralcorp Holdings lq		1,746		94
Reddy Ice Holdings q		1,278		16
Ruddick q		3,010		93
Sanderson Farms q		1,450		58
Schiff Nutrition International		684		4
Seaboard		27		49
Smart Balance l		4,479		33
Spartan Stores q		1,780		42
Spectrum Brands lq		2,712		7
Star Scientific lq		4,711		8
Susser Holdings l		556		7
Synutra International lq		742		27
Tootsie Roll Industries q		2,249		59
Treehouse Foods l		2,147		58
United Natural Foods lq		3,141		60
Universal		1,977		102
USANA Health Sciences l		592		20
Vector Group q		2,137		38
Village Super Market		208		9
WD-40 Company		1,116		38
Weis Markets		808		31
Winn Dixie Stores lq		3,961		63
Zhongpin lq		1,319		15
				2,539
Energy - 6.8%
Abraxas Petroleum l		3,001		11
Allis Chalmers Energy lq		2,052		32
Alon USA Energy q		792		7
American Oil & Gas l		2,622		8
APCO Argentina		276		8
Approach Resources l		658		13
Arena Resources l		2,574		105
Arlington Tankers q		416		8
Atlas America		2,473		92
ATP Oil & Gas lq		2,035		58
Aventine Renewable Energy lq		2,082		14
Basic Energy Services lq		2,985		80
Berry Petroleum, Class A q		3,126		135
Bill Barrett lq		2,683		110
BMB Munai lq		2,668		13
Bois d'Arc Energy l		1,387		30
Bolt Technology l		616		14
BPZ Energy lq		4,395		79
Brigham Exploration lq		3,708		52
Bristow Group lq		1,396		63
Bronco Drilling l		1,754		31
Cal Dive International l		3,238		35
Callon Petroleum l		1,634		38
Cano Petroleum l		2,835		11
Carbo Ceramics q		1,449		79
Carrizo Oil & Gas l		2,001		101
Cheniere Energy lq		3,471		11
Clayton Williams Energy l		400		37
Clean Energy Fuels l		1,576		21
Complete Production Services lq		3,516		112
Comstock Resources l		3,336		204
Concho Resources lq		3,645		119
Contango Oil & Gas Company l		962		82
Crosstex Energy q		2,909		93
CVR Energy l		1,644		26
Dawson Geophysical l		607		40
Delek US Holdings		959		8
Delta Petroleum lq		4,551		87
DHT Maritime q		2,620		25
Double Eagle Petroleum l		583		9
Dril-Quip l		2,211		120
Endeavour International l		8,129		14
Energy Partners l		2,281		27
Energy XXI (Bermuda) l		7,214		38
Evergreen Energy lq		6,122		10
EXCO Resources lq		10,478		273
FX Energy lq		2,881		20
Gasco Energy l		6,702		17
General Maritime		1,959		53
GeoGlobal Resources lq		2,715		11
Geokinetics l		470		8
Geomet l		1,182		8
Georesources l		393		6
GMX Resources lq¥		1,072		63
Golar LNG q		2,418		44
Goodrich Petroleum lq		1,527		70
Gran Tierra Energy lq		6,992		35
Greenhunter Energy l		307		5
Grey Wolf lq		13,835		118
Gulf Island Fabrication q		870		39
GulfMark Offshore l		1,478		74
Gulfport Energy lq		1,875		27
Harvest Natural Resources l		2,602		26
Hornbeck Offshore Services lq		1,707		76
Houston American Energy l		1,066		10
ICO lq		1,980		10
International Coal Group lq		9,316		98
Ion Geophysical lq		6,194		99
James River Coal l		1,855		80
Kayne Anderson Energy q		681		15
Knightsbridge Tankers		1,181		38
Lufkin Industries		1,117		100
Matrix Service lq		1,882		42
McMoRan Exploration lq		3,697		99
Meridian Resource l		6,277		20
Mitcham Industries l		701		11
Natco Group lq		1,430		68
National Coal l		1,836		13
Natural Gas Services Group l		865		22
Newpark Resources lq		6,582		48
NGP Capital Resources q		1,311		21
Northern Oil & Gas lq		1,402		13
Oilsands Quest lq		12,084		54
Pacific Ethanol lq		3,162		6
Panhandle Oil And Gas		524		19
Parallel Petroleum lq		2,994		49
Parker Drilling l		8,173		66
Penn Virginia q		3,047		185
Petrocorp, escrow shares lq§		2,040		-
Petroleum Development lq		1,075		59
PetroQuest Energy lq		3,444		72
PHI l		947		38
Pioneer Drilling lq		3,648		58
PrimeEnergy l		67		4
Quest Resource l		1,433		13
RAM Energy Resources l		2,577		12
Rentech lq		12,145		23
Resource America, Class A		938		11
Rex Energy l		1,228		24
Rosetta Resources lq		3,694		87
RPC q		2,370		41
Ship Finance International		2,976		88
Stone Energy l		2,086		106
SulphCo lq		3,853		12
Superior Well Services l		1,193		38
Swift Energy lq		2,237		114
T-3 Energy Services l		914		63
Teekay Tankers, Class A q		965		22
Toreador Resources lq		1,239		9
Tri Valley lq		1,603		11
Trico Marine Service lq		777		20
TXCO Resources lq		2,535		24
Union Drilling l		1,004		19
Vaalco Energy l		4,626		30
Venoco l		1,484		25
VeraSun Energy lq		7,336		45
Warren Resources l		4,196		49
Western Refining		2,135		17
Westmoreland Coal l		680		16
W-H Energy Services l		2,267		207
Willbros Group lq		2,846		107
World Fuel Services		2,014		49
				5,982
Financials - 17.1%
1st Source		1,092		26
Abington Bancorp		1,748		17
Acadia Realty Trust - REIT q		2,239		51
Advance America Cash Advance Centers q		3,222		18
Advanta, Class B		2,737		22
Agree Realty - REIT q		571		17
Alexander's - REIT lq		167		59
Ambac Financial Group q		21,012		53
AmCOMP l		920		9
AMCORE Financial		1,733		11
American Campus Communities - REIT q		2,850		83
American Capital Agency		714		11
American Equity Investment Life Holding q		4,405		39
American Physicians Capital		647		32
American Safety Insurance Holdings l		759		11
Ameris Bancorp		906		10
Amerisafe l		1,303		24
Ames National q		460		11
Ampal-American Israel, Class A l		1,441		8
Amtrust Financial Services		1,154		17
Anchor Bancorp		1,490		11
Anthracite Capital - REIT q		4,613		29
Anworth Mortgage Asset - REIT q		5,897		35
Apollo Investment q		10,418		166
Arbor Realty Trust - REIT q		1,014		11
Ares Capital q		6,946		79
Argo Group International Holdings lq		2,250		77
Arrow Financial		660		15
Ashford Hospitality Trust - REIT		8,560		34
Aspen Insurance Holdings		6,071		154
Associated Estates Realty - REIT		1,036		15
Assured Guaranty q		4,230		48
Baldwin & Lyons, Class B		550		12
BancFirst		539		25
Banco Latinoamericano de Exportaciones		1,861		34
BancTrust Financial Group q		1,253		9
Bank Mutual		3,874		45
Bank of the Ozarks q		901		18
BankFinancial		1,176		17
Banner		1,028		10
Beneficial Mutual Bancorp l		2,341		28
Berkshire Hills Bancorp q		767		20
BGC Partners, Class A l		2,100		15
BioMed Realty Trust q		5,190		134
Blackrock Kelso Capital		929		9
Boston Private Financial q		2,821		22
Broadpoint Securities l		1,727		4
Brookline Bancorp q		4,351		42
Bryn Mawr Bank		491		12
Calamos Asset Management		1,764		36
Camden National		550		17
Capital City Bank Group q		1,147		27
CapLease - REIT q		2,222		17
Capital Southwest q		231		30
Capital Trust - REIT q		1,192		18
Capitol Bancorp q		1,110		15
Capstead Mortgage - REIT		3,832		42
Cardinal Financial		1,727		15
Cardtronics l		859		7
Care Investment Trust - REIT		949		10
Cascade Bancorp q		1,769		13
Cash America International q		2,134		90
Castlepoint Holdings		2,392		22
Cathay General Bancorp q		3,607		58
Cedar Shopping Centers - REIT q		3,171		40
Centerstate Banks of Florida q		660		9
Central Pacific Financial q		2,122		24
Chemical Financial q		1,723		46
Chimera Investment - REIT q		2,440		19
Citizens lq		2,670		20
Citizens & Northern		641		15
Citizens Banking q		5,221		18
City Bank q		984		9
City Holdings		1,384		62
Clifton Savings Bancorp		1,222		13
CNA Surety l		1,289		17
CoBiz q		1,442		14
Cogdell Spencer - REIT		754		14
Cohen & Steers q		1,228		31
Colonial BancGroup q		14,785		98
Colonial Properties Trust - REIT q		3,390		68
Columbia Banking System q		1,245		19
Community Bank System q		2,554		60
Community Trust Bancorp		1,051		32
Compass Diversified Trust		1,481		17
CompuCredit lq		1,406		9
Consolidated-Tomoka Land		423		17
Corporate Office Properties Trust - REIT q		2,824		110
Corus Bankshares q		2,682		10
Cousins Properties - REIT q		3,367		74
Crawford & Company lq		1,725		18
Credit Acceptance lq		343		6
CVB Financial q		4,522		51
Danvers Bancorp q		1,275		15
Darwin Professional l		548		17
DCT Industrial Trust - REIT q		12,410		105
Delphi Financial Group, Class A		2,987		75
Diamond Hill Investment Group l		147		14
DiamondRock Hospitality - REIT q		6,776		62
Dime Community Bancshares q		1,714		29
Dollar Financial lq		1,732		34
Donegal Group, Class A q		1,291		23
Doral Financial lq		389		5
Downey Financial q		1,204		3
DuPont Fabros Technology - REIT		1,148		19
East West Bancorp q		4,535		54
EastGroup Properties - REIT q		1,634		76
Education Realty Trust - REIT		1,971		22
eHealth l		1,781		26
EMC Insurance Group		450		11
Employers Holdings		2,882		51
Encore Bancshares l		460		8
Encore Capital Group l		1,132		14
Enstar Group l		485		49
Enterprise Financial Services q		746		16
Entertainment Properties Trust - REIT q		2,189		117
Epoch Holdings		730		9
Equity Lifestyle Properties - REIT q		1,712		82
Equity One - REIT q		3,212		62
Essa Bancorp		1,214		16
Evercore Partners q		721		9
Extra Space Storage - REIT q		5,679		80
Ezcorp l		2,851		51
F.N.B. q		5,955		67
Farmers Capital Bank		443		13
FBL Financial Group, Class A		916		19
FBR Capital Markets - REIT lq		2,112		12
FCStone Group l		1,662		32
Federal Agricultural Mortgage, Class C		746		21
FelCor Lodging Trust - REIT q		4,551		36
Financial Federal q		1,891		44
Financial Institutions		784		15
First Acceptance l		1,440		5
First Bancorp		619		11
First Bancorp - North Carolina q		966		15
First Bancorp of Puerto Rico q		5,209		46
First Busey q		1,816		26
First Cash Financial Services lq		1,445		28
First Commonwealth Financial - Pennsylvania q		5,095		58
First Community Bancshares - Nevada		765		27
First Financial - Indiana		904		34
First Financial Bancorp - Ohio q		2,605		29
First Financial Bankshares q		1,545		71
First Financial Holdings		1,054		21
First Financial Northwest		1,634		16
First Industrial Realty Trust - REIT q		3,127		78
First Marblehead q		4,941		12
First Merchants		1,254		26
First Mercury Financial l		847		14
First Midwest Bancorp q		3,419		70
First Niagara Financial Group q		8,036		112
First Place Financial		1,254		14
First Potomac Realty Trust - REIT		1,507		24
First South Bancorp q		581		11
FirstBank, fractional share l§		0.29		-
FirstFed Financial lq		928		7
FirstMerit q		5,545		109
Flagstar Bancorp q		2,882		13
Flagstone Reinsurance Holdings q		908		11
Flushing Financial		1,930		34
Forestar Real Estate Group l		2,546		46
Fox Chase Bancorp l		452		5
FPIC Insurance Group l		667		33
Franklin Street Properties - REIT q		3,932		48
Friedman Billings Ramsey Group - REIT		11,028		19
Frontier Financial q		3,443		40
FX Real Estate & Entertainment l		705		1
GAMCO Investors		541		24
Getty Realty - REIT		1,760		33
GFI Group		4,841		49
Glacier Bancorp q		3,952		86
Gladstone Capital q		1,544		26
Gladstone Investment		1,578		12
Glimcher Realty Trust - REIT		2,748		26
Gramercy Capital - REIT		2,976		20
Greene County Bancshares q		929		13
Greenhill & Company q		1,385		85
Greenlight Capital lq		1,595		33
Grubb & Ellis		2,662		9
Guaranty Bancorp l		3,790		20
Guaranty Financial Group lq		2,662		9
Hallmark Financial Services l		247		2
Hancock Holding q		1,846		83
Hanmi Financial		3,239		17
Harleysville Group		1,040		37
Harleysville National q		1,972		28
Harris & Harris Group l		1,667		11
Hatteras Financial - REIT		821		19
Healthcare Realty Trust - REIT q		3,716		108
Heartland Financial USA		1,121		23
Hercules Technology Growth Capital		2,349		23
Heritage Commerce		1,036		11
Hersha Hospitality Trust - REIT		3,028		22
Highwoods Properties - REIT q		4,002		146
Hilb, Rogal & Hobbs		2,633		114
Hilltop Holdings l		3,446		36
Home Bancshares		877		23
Home Properties - REIT q		2,556		141
Horace Mann Educators		3,646		51
IBERIABANK		833		43
Independence Holdings		507		6
Independent Bank		1,157		30
Infinity Property & Casualty		1,202		54
Inland Real Estate q		4,007		60
Integra Bank		1,495		12
Interactive Brokers Group lq		2,974		83
International Assets Holding l		301		10
International Bancshares q		3,690		91
Investors Bancorp l		2,843		43
Investors Real Estate Trust - REIT q		3,398		36
IPC Holdings q		3,902		125
JER Investment Trust- REIT q		1,665		10
Kansas City Life Insurance		327		17
KBW lq		2,023		53
Kearny Financial		1,474		19
Kite Realty Group Trust - REIT		2,157		27
Knight Capital Group, Class A lq		7,102		116
Kohlberg Capital		1,238		11
LaBranche l		4,010		28
Ladenburg Thalman Financial Services lq		7,472		13
Lakeland Bancorp q		1,778		20
Lakeland Financial		897		18
LandAmerica Financial Group q		1,087		13
LaSalle Hotel Properties - REIT q		2,895		66
Lexington Corporate Properties Trust - REIT q		5,078		73
Life Partners Holdings q		424		9
LTC Properties - REIT		1,445		42
Maguire Properties - REIT q		2,929		32
Maiden Holdings q		3,380		24
MainSource Financial Group		1,361		24
MarketAxess Holdings lq		2,237		22
Max Capital Hamilton q		4,182		98
MB Financial q		2,484		61
MCG Capital q		5,407		26
Meadowbrook Insurance Group		2,679		17
Medallion Financial		1,062		11
Medical Properties Trust - REIT q		4,862		54
Meridian Interstat Bancorp l		761		8
Meruelo Maddux Properties l		3,137		6
MFA Mortgage Investments - REIT		10,852		70
Mid-America Apartment Communities - REIT		1,899		109
Midwest Banc Holdings		1,607		9
Mission West Properties - REIT		1,231		12
Montpelier Holdings		7,019		110
Move l		9,175		21
MVC Capital		1,666		23
Nara Bancorp q		1,612		17
NASB Financial q		347		9
National Financial Partners q		2,894		60
National Health Investors - REIT		1,598		49
National Interstate		372		7
National Penn Bancshares, fractional share l§		0.50		-
National Penn Bancshares q		5,937		80
National Retail Properties - REIT q		5,252		111
National Western Life Insurance, Class A		153		36
Navigators Group l		878		42
NBT Bancorp		2,367		59
Nelnet, Class A q		1,222		13
NewAlliance Bancshares		8,222		107
Newcastle Investment - REIT q		3,774		23
Newstar Financial l		1,711		9
Northfield Bancorp l		1,407		16
NorthStar Realty Finance - REIT q		4,349		36
Northwest Bancorp q		1,420		37
NYMAGIC		305		6
OceanFirst Financial		632		11
Ocwen Financial lq		2,817		17
Odyssey RE Holdings		1,946		76
Old National Bancorp q		4,565		69
Old Second Bancorp q		995		15
OMEGA Healthcare Investors - REIT q		4,949		85
optionsXpress Holdings q		3,102		77
Oriental Financial Group		1,737		30
Oritani Financial l		928		15
Pacific Capital Bancorp q		3,233		42
Pacific Continental		763		9
Pacwest Bancorp q		1,747		33
Park National q		832		52
Parkway Properties - REIT q		1,228		43
Patriot Capital Funding q		1,498		11
Peapack-Gladstone Financial q		594		16
PennantPark Investment		1,365		9
Pennsylvania Commerce Bancorp l		371		9
Pennsylvania Real Estate - REIT		2,203		41
Penson Worldwide l		1,202		22
Peoples Bancorp - Ohio		807		15
Phoenix Companies q		8,278		81
Pinnacle Financial Partners lq		1,616		41
Piper Jaffray Companies lq		1,416		50
Platinum Underwriters Holdings q		3,553		128
PMA Capital l		2,454		25
PMI Group		5,807		15
Post Properties - REIT q		3,232		103
Potlatch - REIT q		2,911		136
PremierWest Bancorp q		1,385		10
Presidential Life		1,469		24
Primus Guaranty l		1,696		7
PrivateBancorp q		1,304		39
ProAssurance lq		2,133		104
ProCentury		960		16
Prospect Capital q		1,875		25
Prosperity Bancshares		2,803		90
Provident Bankshares q		2,205		20
Provident Financial Services q		4,183		61
Provident New York Bancorp		3,080		38
PS Business Parks - REIT q		1,199		63
Pzena Investment Management q		451		4
Quanta Capital Holdings q		5,015		14
Radian Group		5,751		10
RAIT Financial Trust - REIT q		4,540		30
Ramco-Gershenson Properties Trust - REIT q		1,645		36
Realty Income - REIT q		6,867		173
Redwood Trust - REIT q		2,349		51
Renasant q		1,498		27
Republic Bancorp - Kentucky, Class A		764		24
Resource Capital - REIT		1,478		10
Riskmetrics Group l		1,574		28
RLI q		1,442		79
Rockville Financial q		971		14
Roma Financial		627		10
S&T Bancorp		1,703		57
Safety Insurance Group q		1,045		44
Sanders Morris Harris Group q		1,324		10
Sandy Spring Bancorp q		1,195		20
Santander Bancorp		334		4
Saul Centers - REIT		835		40
SCBT Financial q		721		25
SeaBright Insurance Holdings l		1,194		14
Seacoast Banking q		1,295		11
Selective Insurance Group q		4,103		89
Senior Housing Properties Trust - REIT q		6,788		143
Shore Bancshares		601		13
Sierra Bancorp q		538		10
Signature Bank lq		2,182		64
Simmons First National, Class A		962		29
Smithtown Bancorp q		704		13
South Financial Group q		5,098		31
Southside Bancshares q		956		19
Southwest Bancorp - Oklahoma		1,168		16
Sovran Self Storage - REIT q		1,398		58
State Auto Financial		1,276		37
State Bancorp q		1,024		13
StellarOne q		1,615		27
Sterling Bancorp		1,615		23
Sterling Bancshares q		5,158		50
Sterling Financial - Washington q		3,755		28
Stewart Information Services q		1,490		26
Stifel Financial l		1,725		73
Strategic Hotels & Resorts - REIT q		5,451		43
Stratus Properties l		443		12
Suffolk Bancorp		794		25
Sun Bancorp - New Jersey l		1,288		14
Sun Communities - REIT q		1,748		30
Sunstone Hotel Investors - REIT		3,681		48
Susquehanna Bancshares q		6,221		89
SVB Financial lq		2,364		136
SWS Group		1,820		34
SY Bancorp		1,072		28
Tanger Factory Outlet Centers - REIT q		2,691		100
Tejon Ranch l		827		25
Texas Capital Bancshares lq		1,931		31
Thomas Properties Group		1,639		14
Thomas Weisel Partners Group l		1,512		9
Tompkins Trustco		446		19
Tower Group		1,607		37
Townebank Portsmouth q		1,485		26
TradeStation Group lq		2,326		25
TriCo Bancshares		1,308		20
TrustCo Bank Corporation of New York q		5,134		45
Trustmark q		3,383		61
UCBH Holdings q		7,899		36
UMB Financial q		2,222		122
Umpqua Holdings q		4,402		60
Union Bankshares		1,265		28
United American Indemnity l		1,691		22
United Bankshares q		2,774		70
United Capital l		131		3
United Community Banks q		2,874		31
United Community Financial		1,817		10
United Financial Bancorp		1,271		15
United Fire & Casualty		1,628		44
United Security Bancshares q		572		9
Universal American Financial l		2,851		30
Universal Health Realty Income Trust - REIT		1,196		42
Univest Corporation of Pennsylvania q		1,071		28
Urstadt Biddle Properties, Class A - REIT		2,213		37
US Global Investors lq		916		14
U-Store-It Trust - REIT q		3,628		42
Validus Holdings		4,654		106
Viewpoint Financial		800		13
W Holding Company q		7,958		6
Washington Real Estate Investment Trust - REIT q		3,108		106
Washington Trust Bancorp		774		18
Wauwatosa Holdings l		509		6
WesBanco		1,921		44
West Bancorp q		1,245		15
West Coast Bancorp - Oregon		1,397		15
Westamerica Bancorporation q		2,073		108
Western Alliance Bancorp lq		1,212		12
Westfield Financial		1,247		12
Westwood Holdings		384		18
Wilshire Bancorp		1,643		20
Winthrop Realty Trust - REIT		3,125		13
Wintrust Financial q		1,671		35
World Acceptance lq		1,192		39
WSFS Financial		479		26
Yadkin Valley Financial q		820		13
Zenith National Insurance q		2,736		94
				14,968
Healthcare - 12.8%
Abaxis lq		1,568		31
ABIOMED l		2,176		39
ACADIA Pharmaceuticals l		2,388		7
Accuray lq		2,580		22
Acorda Therapeutics lq		2,392		78
Acura Pharmaceuticals lq		583		4
Adolor l		3,291		13
Affymax l		749		15
Affymetrix lq		5,085		40
Air Methods l		832		24
Akorn lq		4,076		21
Albany Molecular Research l		1,825		28
Alexion Pharmaceuticals lq		2,814		264
Alexza Pharmaceuticals l		1,418		8
Align Technology lq		4,540		45
Alkermes lq		6,893		109
Alliance Imaging l		1,869		18
Allos Therapeutics l		3,787		36
Allscripts Healthcare Solutions lq		4,179		50
Almost Family l		455		15
Alnylam Pharmaceuticals lq		2,605		91
Alpharma, Class A lq		3,000		68
Alphatec Holdings l		1,782		9
AMAG Pharmaceuticals l		1,244		51
Amedisys lq		1,917		123
American Medical Systems lq		5,183		85
AMERIGROUP l		3,873		98
Amicus Therapeutics l		317		5
AMN Healthcare Services l		2,528		48
Amsurg, Class A lq		2,068		55
Analogic		965		71
AngioDynamics l		1,729		27
Apria Healthcare Group l		3,173		61
Ardea Biosciences l		771		10
Arena Pharmaceuticals l		5,280		36
Ariad Pharmaceuticals l		4,784		16
ArQule l		2,970		11
Array BioPharma l		3,439		27
ArthroCare lq		2,009		42
Assisted Living Concept l		4,140		24
Athenahealth lq		1,476		45
Atrion		107		12
Auxilium Pharmaceuticals lq		2,942		109
Avant Immunotherapeutics lq		1,067		17
Biodel lq		767		13
BioForm Medical l		1,563		8
Biomimetic Therapeutics l		948		13
Bio-Rad Laboratories, Class A l		1,283		114
Bio-Reference Labs l		923		24
BMP Sunstone lq		2,066		11
Bruker BioSciences l		4,212		58
Cadence Pharmaceuticals lq		1,440		15
Caliper Life Sciences l		3,416		14
Cantel Medical l		814		8
Capital Senior Living l		1,767		12
Caraco Pharmaceutical Laboratories l		1,095		15
Cardiac Science l		1,390		12
Cardionet l		321		9
Celera lq		5,787		79
Cell Genesys lq		6,139		19
Centene l		3,140		70
Cepheid lq		4,170		71
Chemed q		1,769		76
Chindex International l		789		12
Clinical Data l		741		13
Columbia Labs l		3,347		14
Computer Programs & Systems		596		15
Conceptus lq		2,159		37
CONMED l		1,936		59
Corvel l		620		20
Cougar Biotechnology l		1,066		36
Cross Country Healthcare l		2,180		35
CryoLife l		1,989		27
Cubist Pharmaceuticals lq		4,079		92
CV Therapeutics l		4,320		40
Cyberonics lq		1,739		48
Cynosure lq		683		17
Cypress Bioscience lq		2,683		23
Cytokinetics l		2,451		13
Cytori Therapeutics l		1,424		10
Datascope q		922		43
Dendreon lq		6,663		39
DepoMed l		3,434		13
Dexcom l		1,875		13
Discovery Laboratories lq		7,082		13
Durect lq		5,364		24
Dyax l		3,975		17
Eclipsys lq		3,886		86
Emergency Medical Services lq		639		17
Emergent Biosolutions l		967		13
Emeritus l		1,407		24
Ensign Group		594		7
Enzo Biochem l		2,297		33
Enzon lq		2,983		24
eResearchTechnology l		3,166		46
ev3 lq		5,025		48
Exactech l		503		14
Exelixis lq		7,700		54
Five Star Quality Care l		2,275		10
Genomic Health lq		952		21
Genoptix lq		594		17
Gentiva Health Services lq		1,992		51
Geron l		5,636		25
Greatbatch lq		1,632		33
GTx lq		1,347		25
Haemonetics l		1,819		106
Halozyme Therapeutics l		4,451		36
Hanger Orthopedic Group l		1,641		28
Hansen Medical lq		1,219		19
HealthExtras l		2,356		71
Healthsouth lq		6,006		99
Healthspring l		3,532		69
Healthways lq		2,521		64
HMS Holdings l		1,786		44
Human Genome Sciences lq		9,799		65
ICU Medical l		880		25
Idenix Pharmaceuticals lq		2,157		18
Idera Pharmaceuticals lq		1,469		22
I-Flow lq		1,701		18
Immucor lq		5,130		155
ImmunoGen l		3,068		14
Immunomedics lq		4,672		11
Incyte lq		5,532		51
Indevus Pharmaceuticals l		5,608		10
Inspire Pharmaceuticals l		3,018		11
Insulet lq		1,311		18
Integra LifeSciences l		1,242		57
InterMune lq		2,258		39
Invacare q		2,320		55
inVentiv Health lq		2,362		57
IPC The Hospitalist l		405		9
IRIS International l		1,316		22
Isis Pharmaceuticals lq		6,610		113
Javelin Pharmaceuticals lq		3,561		9
Jazz Pharmaceuticals l		438		3
Kendle International lq		968		40
Kensey Nash l		801		28
Kindred Healthcare lq		2,051		55
K-V Pharmaceutical, Class A lq		2,604		53
Lexicon Pharmaceuticals l		5,742		14
LHC Group l		1,047		29
Life Sciences Research l		625		21
Ligand Pharmaceuticals l		6,368		21
Luminex l		2,664		59
Magellan Health Services lq		2,685		112
MannKind lq		3,367		12
Map Pharmaceuticals l		559		6
Marshall Edwards lq		1,384		3
Martek Biosciences lq		2,378		89
Masimo l		3,294		124
Maxygen l		2,189		11
Medarex lq		9,350		92
MedAssets l		1,108		17
MedCath l		1,138		21
Medical Action Industries l		1,107		11
Medicines lq		3,764		84
Medicis Pharmaceutical, Class A q		4,084		75
Medivation lq		1,823		36
Mentor q		2,443		61
Meridian Bioscience q		2,872		75
Merit Medical Systems l		1,956		40
Metabolix lq		1,357		17
Micrus Endovascular l		1,037		15
Middlebrook Pharmaceutical lq		2,563		6
Mine Safety Appliances q		2,218		73
Molecular Insight Pharmaceuticals l		1,265		11
Molina Healthcare lq		1,064		32
Momenta Pharmaceuticals lq		1,901		32
MWI Veterinary Supply l		656		23
Myriad Genetics lq		3,270		217
NABI Biopharmaceuticals l		4,477		24
Nanosphere l		922		9
National Healthcare q		484		25
Natus Medical lq		1,972		46
Nektar Therapeutics l		6,770		34
Neogen l		1,031		28
Neurocrine Biosciences l		2,560		12
Nighthawk Radiology Holdings l		1,794		15
Novavax l		3,729		9
Noven Pharmaceuticals l		1,743		22
NPS Pharmaceuticals l		3,376		18
NuVasive lq		2,619		147
NxStage Medical l		1,398		6
Obagi Medical Products lq		1,269		12
Odyssey Healthcare l		2,672		25
Omnicell l		2,382		39
Omrix Biopharmaceuticals l		1,035		19
Onyx Pharmaceuticals lq		4,072		165
Opko Health lq		3,432		6
Optimer Pharmaceuticals lq		1,730		15
OraSure Technologies lq		3,432		14
Orexigen Therapeutics l		1,433		13
Orthofix International l		1,252		30
Orthovita l		4,734		13
OSI Pharmaceuticals lq		4,188		220
Osiris Therapeutics lq		1,081		17
Owens & Minor q		3,013		138
Pain Therapeutics l		2,406		20
Palomar Medical Technologies lq		1,305		17
Par Pharmaceutical Companies l		2,622		45
PAREXEL International l		4,097		120
PDL BioPharma q		8,741		98
PharmaNet Development Group lq		1,416		34
Pharmasset l		1,119		23
Pharmerica l		2,175		51
POZEN lq		1,905		23
Progenics Pharmaceutical lq		1,905		31
Protalix Biotherapeutics l		771		2
PSS World Medical lq		4,629		78
Psychiatric Solutions lq		4,060		142
Questcor Pharmaceuticals l		3,862		19
Quidel l		2,020		41
Radnet l		1,526		10
Regeneron Pharmaceutical lq		4,488		98
RehabCare Group l		1,322		22
Repligen l		2,221		12
Res-Care l		1,688		31
Rexahn Pharmaceuticals lq		2,088		3
Rigel Pharmaceuticals lq		2,673		68
RTI Biologics lq		3,843		32
Salix Pharmaceuticals lq		3,237		26
Sangamo BioSciences lq		2,618		29
Savient Pharmaceuticals lq		3,973		106
Sciele Pharma q		2,506		47
Seattle Genetics lq		4,383		50
Sequenom l		3,855		82
Sirona Dental Systems lq		1,337		33
Skilled Healthcare Group, Class A l		1,517		22
Somanetics l		919		20
SonoSite lq		1,306		43
Spectranetics l		2,418		22
Stereotaxis lq		2,000		14
STERIS q		4,440		152
Stewart Enterprises, Class A q		6,960		62
Sucampo Pharmaceuticals l		653		8
Sun Healthcare Group lq		3,152		45
Sunrise Senior Living lq		3,248		58
SurModics lq		1,046		44
Symmetry Medical lq		2,448		41
Synovis Life Technologies l		891		18
Synta Pharmaceuticals lq		1,197		9
Targacept l		1,297		12
Tercica l		1,989		18
Theravance lq		3,700		59
Thoratec l		3,805		71
TomoTherapy lq		2,928		29
TranS1 lq		873		8
Triple-S Management l		1,015		16
TriZetto Group lq		3,303		72
U.S. Physical Therapy l		849		14
United Therapeutics lq		1,610		183
Valeant Pharmaceuticals International lq		5,556		95
Varian l		2,110		104
ViroPharma l		5,125		63
Virtual Radiologic lq		500		5
Vision-Sciences l		1,203		5
Vital Images lq		1,245		19
Vital Signs		446		33
Vivus l		4,439		37
VNUS Medical Technologies l		930		19
Volcano l		3,375		51
West Pharmaceutical Services q		2,377		109
Wright Medical Group lq		2,690		85
XenoPort l		1,842		84
XOMA lq		9,182		21
Zoll Medical lq		1,531		48
ZymoGenetics lq		2,965		25
				11,160
Industrials - 15.2%
3D Systems lq		1,275		16
A.O. Smith q		1,462		58
AAON q		937		18
AAR lq		2,838		49
ABM Industries q		3,202		77
ACCO Brands q		3,872		33
Accuride l		2,533		7
Aceto		1,747		13
Actuant, Class A q		4,092		125
Acuity Brands q		3,010		123
Administaff		1,677		48
Advanced Battery Technologies lq		2,970		17
Advisory Board lq		1,228		47
AeroVironment l		732		24
Aircastle		3,337		37
AirTran Holdings lq		8,363		24
Akeena Solar lq		1,493		7
Alamo Group		442		10
Alaska Air Group lq		2,597		46
Albany International, Class A q		2,147		62
Allegiant Travel l		976		24
Altra Holdings l		1,888		31
Amerco l		773		36
American Commercial Lines lq		2,653		30
American Ecology		1,105		35
American Railcar Industries		690		15
American Reprographics lq		2,603		42
American Science & Engineering		743		42
American Superconductor lq		3,076		121
American Woodmark q		943		22
Ameron International q		651		84
Ampco-Pittsburgh		606		26
Amrep		147		7
Angelica q		536		12
Apogee Enterprises		2,092		36
Applied Industrial Technology q		3,060		82
Applied Signal Technology		900		13
ARGON ST lq		1,015		25
Arkansas Best q		1,638		61
Ascent Solar Technologies l		533		5
Asset Acceptance Capital l		1,224		14
Astec Industries lq		1,305		42
Atlas Air Worldwide Holdings l		910		44
Axsys Technologies l		624		46
AZZ l		877		40
Badger Meter q		1,068		60
Baldor Electric q		3,378		115
Barnes Group q		3,503		79
Beacon Power lq		6,341		8
Beacon Roofing Supply lq		3,026		41
Bowne & Company		1,871		24
Brady, Class A q		3,678		135
Briggs & Stratton q		3,585		49
Builders FirstSource lq		742		3
CAI International l		525		10
Capstone Turbine lq		10,666		33
Cascade q		704		31
Casella Waste Systems l		1,589		21
CBIZ l		4,304		35
CDI q		952		20
Celadon Group l		1,514		20
Cenveo lq		3,676		34
Ceradyne lq		1,929		89
Chart Industries l		2,074		110
China Architectural Engineering lq		1,332		11
China BAK Battery lq		2,161		11
China Precision Steel lq		1,227		6
China Security & Surveillance Technology lq		1,968		28
Circor International		1,232		73
CLARCOR		3,698		142
Clean Harbors l		1,414		110
Coleman Cable lq		561		7
Colfax l		1,579		43
Columbus McKinnon lq		1,373		35
Comfort Systems USA q		3,251		43
Commercial Vehicle Group l		1,692		16
COMSYS IT Partners l		1,183		12
Consolidated Graphics l		712		24
Cornell l		794		21
CoStar Group lq		1,396		70
CRA International l		848		32
Cubic		1,127		30
Curtiss-Wright q		3,237		170
Deluxe		3,726		53
Dollar Thrifty Automotive lq		1,453		5
Ducommun l		755		21
Duff & Phelps, Class A l		776		13
DXP Enterprises l		256		12
Dycom Industries lq		3,039		48
Dynamex l		790		22
Dynamic Materials		936		31
DynCorp International l		2,014		32
Eagle Bulk Shipping q		3,344		97
Electro Rent		1,558		21
EMCOR Group lq		4,971		150
Encore Wire q		1,593		29
Ener1 lq		2,568		18
Energy Conversion Devices lq		3,189		223
EnergySolutions		2,374		49
EnerSys l		2,013		65
ENGlobal lq		1,935		24
Ennis Business Forms		2,093		32
EnPro Industries l		1,589		57
ESCO Technologies lq		1,876		77
Esterline Technologies l		2,154		105
Evergreen Solar lq		8,970		84
Exponent l		1,015		31
Federal Signal q		3,472		50
First Advantage l		734		11
Flanders l		1,149		7
Flow International lq		2,753		18
Force Protection lq		4,999		17
Forward Air		2,075		76
Franklin Electric		1,634		68
FreightCar America q		897		34
FTD Group q		1,203		17
FuelCell Energy lq		4,962		41
Fuel-Tech lq		1,280		24
Furmanite l		2,604		24
Fushi Copperweld l		1,030		16
G&K Services, Class A		1,351		46
Gehl Company l		742		11
Genco Shipping & Trading q		1,627		111
GenCorp lq		3,835		32
Genesee & Wyoming, Class A lq		2,249		91
Geo Group lq		3,735		90
GeoEye l		1,201		26
Gevity HR		1,655		12
Global Cash Access Holdings lq		2,783		17
Global Traffic Network l		846		8
Gorman-Rupp q		1,051		47
Graham		363		32
Granite Construction q		2,561		81
Great Lakes Dredge & Dock		2,846		19
Greenbrier Companies q		1,170		25
Griffon l		2,069		21
H & E Equipment Services l		1,182		15
Harbin Electric lq		447		7
Hawaiian Holdings l		2,910		26
Healthcare Services Group q		3,113		52
Heartland Express q		3,970		68
HEICO q		1,603		56
Heidrick & Struggles International q		1,381		39
Herley Industries l		965		15
Herman Miller		3,836		100
Hexcel lq		7,028		133
Hill International l		1,674		28
HNI q		3,215		70
Horizon Lines, Class A		2,322		27
Houston Wire & Cable q		1,272		25
Hub Group lq		2,666		104
Hudson Highland Group l		1,834		16
Hurco l		458		13
Huron Consulting Group l		1,406		73
ICF International l		475		9
ICT Group l		640		5
II-VI l		1,764		68
IKON Office Solutions		5,859		84
InnerWorkings lq		2,260		26
Insituform Technologies, Class A lq		2,031		35
Insteel Industries		1,249		22
Integrated Electrical Services lq		563		11
Interline Brands lq		2,315		37
International Shipholding l		432		10
Jackson Hewitt Tax Service		2,053		32
JetBlue Airways lq		12,241		65
Kadant l		1,020		22
Kaman		1,874		47
Kaydon q		2,029		96
Kelly Services, Class A q		1,877		35
Kenexa lq		1,758		33
Key Technology l		403		13
Kforce lq		2,100		21
Knight Transportation q		4,291		81
Knoll		3,462		53
Korn/Ferry International lq		3,398		59
K-Tron International l		174		24
LaBarge l		872		13
Ladish lq		1,110		22
Lawson Products		284		8
Layne Christensen l		1,405		64
LB Foster lq		818		31
Learning Tree International l		640		10
LECG l		1,850		15
Lindsay Manufacturing q		873		81
LMI Aerospace l		621		11
LSI Industries		1,688		16
Lydall lq		1,187		18
Marten Transport l		1,265		26
MasTec l		3,071		44
McGrath Rentcorp		1,708		49
Medis Technologies lq		1,927		7
Mercury Computer Systems l		1,667		13
Met Pro		1,076		16
Metalico l		1,772		27
Michael Baker l		491		14
Microvision lq		4,058		10
Middleby lq		1,243		58
Mobile Mini lq		2,577		52
Moog, Class A lq		3,123		139
Mueller Industries		2,719		70
Mueller Water Products, Class A q		8,435		77
Multi Color		679		14
NACCO Industries, Class A q		430		43
Navigant Consulting lq		3,454		64
NCI Building Systems lq		1,446		54
Nordic American Tanker Shipping q		2,456		98
Nordson q		2,468		174
Odyssey Marine Exploration lq		3,438		15
Old Dominion Freight Line lq		2,297		84
Omega Flex		223		4
On Assignment l		2,533		22
Orbital Sciences lq		4,235		106
Orion Energy Systems lq		650		4
Orion Marine Group l		1,542		21
Pacer International		2,562		61
Park-Ohio Holdings l		568		10
Patriot Transportation Holdings l		115		9
Peerless Manufacturing l		464		26
PeopleSupport l		1,735		16
Perini lq		1,943		53
PHH lq		3,918		61
Pico Holdings l		1,157		54
Pike Electric l		1,210		22
Plug Power l		5,729		14
Polypore International lq		1,140		30
Portfolio Recovery Associates lq		1,050		42
Powell Industries l		565		30
Power-One lq		5,244		11
Powersecure International l		1,210		9
Preformed Line Products q		194		10
Pre-Paid Legal Services l		620		26
PRG-Schultz International l		1,072		11
Princeton Review l		956		7
Protection One l		444		3
The Provident Service l		893		10
Quanex Building Products lq		2,718		42
Raven Industries q		1,172		45
RBC Bearings l		1,577		52
Regal-Beloit		2,328		97
Republic Airways Holdings l		2,499		24
Resources Connection q		3,523		82
Robbins & Myers		2,101		107
Rollins		2,929		50
RSC Holdings lq		3,402		32
Rush Enterprises lq		2,431		27
Saia l		926		16
Schawk		1,277		17
School Specialty lq		1,342		45
SI International l		961		18
Simpson Manufacturing q		2,693		65
SkyWest		4,254		65
Sotheby's Holdings, Class A q		4,934		137
Spherion l		3,823		19
Standard Parking l		804		17
Standard Register		1,174		10
Standex International		842		18
Stanley lq		647		20
Sterling Construction l		824		17
Sun Hydraulics q		854		35
TAL International Group		924		23
Taleo, Class A lq		1,612		30
TBS International lq		768		28
Team l		1,320		48
Tecumseh Products, Class A l		1,166		38
Teledyne Technologies lq		2,597		163
Teletech Holdings lq		2,891		39
Tennant		1,201		32
Tetra Tech lq		4,258		122
Textainer Group Holdings		685		13
Thermadyne Holdings l		957		16
Titan International		2,011		93
Titan Machinery l		524		14
TransDigm Group lq		2,435		90
Tredegar		2,305		38
Trex lq		1,113		19
Trimas l		1,072		7
Triumph Group		1,196		63
TrueBlue l		3,247		49
TurboChef Technologies l		1,688		9
Twin Disc		635		13
UAL q		9,213		77
Ultralife Batteries l		898		10
Ultrapetrol Bahamas l		1,788		20
United Stationers lq		1,702		65
Universal Forest Products q		1,217		33
Universal Technical Institute lq		1,684		25
Universal Truckload Services l		437		11
US Airways Group lq		6,585		33
Valence Technology lq		3,626		14
Viad		1,513		46
Vicor		1,335		15
Volt Information Sciences lq		1,061		15
VSE		287		11
Wabash National q		2,250		21
Waste Connections lq		4,461		162
Waste Services l		1,698		16
Watsco q		1,691		84
Watson Wyatt & Company Holdings q		3,088		179
Watts Water Technologies, Class A q		2,139		63
Werner Enterprises q		3,217		77
Westinghouse Air Brake Technologies		3,503		194
Woodward Governor q		4,301		194
YRC Worldwide lq		4,183		71
				13,252
Information Technology - 15.8%
3Com l		29,536		56
3PAR l		1,947		16
Accelrys l		1,915		11
ACI Worldwide lq		2,560		50
Acme Packet l		1,942		9
Actel l		1,763		24
Actuate l		4,413		20
Acxiom		4,367		56
Adaptec l		8,134		30
ADTRAN		4,064		91
Advanced Analogic Technologies lq		3,263		13
Advanced Energy Industries lq		2,267		31
Advent Software lq		1,281		56
Agilysys		1,632		20
Airvana l		1,723		10
American Software - Class A		1,610		9
Amkor Technology lq		7,984		70
ANADIGICS lq		4,584		27
Anaren l		1,201		11
Anixter International lq		2,187		149
Ansoft l		1,093		39
Applied Micro Circuits lq		4,868		38
Arcsight l		492		6
Ariba lq		6,262		103
Arris Group l		9,099		87
Art Technology Group l		9,317		34
AsiaInfo Holdings l		2,505		34
Asyst Technologies l		3,572		15
Atheros Communications lq		4,346		135
ATMI l		2,181		49
Audiovox l		1,192		11
Authentec l		1,791		14
Avanex lq		14,415		9
Avid Technology lq		2,551		56
Avocent lq		3,277		78
Axcelis Technologies l		7,076		36
Bankrate lq		910		29
BearingPoint lq		14,593		13
Bel Fuse		771		22
Belden q		3,204		118
Benchmark Electronics lq		4,941		72
Bidz l		414		4
Black Box		1,192		35
Blackbaud q		3,275		58
Blackboard lq		2,265		90
Blue Coat Systems l		2,426		35
Bookham lq		7,203		14
Bottomline Technologies l		1,569		19
Brightpoint lq		3,652		25
Brooks Automation l		4,651		36
Cabot Microelectronics l		1,630		64
CACI International, Class A lq		2,122		95
Callidus Software l		2,153		10
Cass Information Systems q		488		18
Cavium Networks lq		2,218		36
Ceva l		1,439		12
Checkpoint Systems l		2,882		61
China Fire & Security Group lq		1,000		10
China Information Security Technology l		1,638		8
Chordiant Software l		2,277		12
CIBER l		3,736		26
Cirrus Logic l		5,257		30
CMGI l		3,545		43
Cogent lq		2,965		30
Cognex q		3,024		57
Cogo Group lq		1,841		8
Coherent l		1,688		58
Cohu		1,539		24
Commvault Systems l		3,056		47
Compellent Technologies l		1,009		11
comScore l		1,316		25
Comtech Telecommunications lq		1,752		86
Comverge l		1,560		17
Concur Technologies lq		3,156		130
Constant Contact lq		1,453		26
CPI International l		697		10
Cray l		2,299		12
CSG Systems International l		2,535		45
CTS q		2,494		32
CyberSource lq		5,053		90
Cymer lq		2,181		58
Daktronics q		2,372		42
Data Domain lq		2,362		51
DealerTrack Holdings lq		3,122		49
Deltek l		899		7
DemandTec l		1,403		14
Dice Holdings lq		1,144		10
Digi International l		1,826		18
Digimarc l		1,446		21
Digital River lq		2,719		108
Diodes lq		2,060		53
Dionex l		1,307		91
Divx l		1,926		16
Double-take Software l		1,234		14
DSP Group l		1,925		14
DTS l		1,490		43
Eagle Test Systems l		990		12
EarthLink lq		7,940		71
Ebix l		144		14
Echelon lq		2,172		23
Electro Scientific Industries l		2,096		33
Electronics for Imaging lq		3,940		55
Elixir Gaming Technologies lq		4,841		6
EMCORE lq		5,374		26
Emulex l		6,182		70
EnerNOC lq		691		11
Entegris l		8,167		52
Entropic Communications l		666		1
Entrust l		4,380		10
Epicor Software lq		4,516		31
EPIQ Systems l		2,557		30
Euronet Worldwide lq		3,409		55
Exar l		1,638		13
Excel Technologies l		859		27
Exlservice Holdings lq		1,034		16
Extreme Networks l		8,942		26
Fair Isaac q		3,476		77
FalconStor Software l		2,761		19
FARO Technologies lq		1,192		28
FEI lq		2,607		66
Finisar lq		22,083		30
FormFactor lq		3,532		61
Forrester Research l		1,227		41
Foundry Networks lq		10,554		184
Gartner, Class A lq		4,312		105
Gerber Scientific l		1,786		21
Globecomm Systems l		1,441		13
Greenfield Online l		1,904		26
Guidance Software l		666		7
Hackett Group l		2,943		19
Harmonic lq		6,894		54
Harris Stratex Networks, Class A l		1,926		14
Heartland Payment Systems q		1,745		40
Hittite Microwave l		1,397		45
HSW International lq		1,993		7
Hughes Communications l		513		22
Hutchinson Technology l		1,911		28
Hypercom l		3,673		18
i2 Technologies lq		1,101		14
iBasis		2,265		9
ICx Technologies lq		979		7
iGATE l		1,773		17
Imation q		2,303		44
Immersion l		2,183		15
Infinera l		6,797		77
Infogroup		2,509		13
Informatica lq		6,483		105
InfoSpace		2,519		24
Integral Systems		640		30
Interactive Intelligence l		911		9
Interdigital l		3,322		77
Intermec lq		4,401		83
Internap Network Services lq		3,693		17
Internet Brands l		1,585		9
Internet Capital Group l		2,835		23
InterVoice l		2,859		23
Interwoven l		3,335		47
Intevac l		1,644		17
IPG Photonics lq		1,373		24
Isilon Systems l		647		3
Ixia l		3,040		27
IXYS l		1,656		20
J2 Global Communications l		3,253		78
Jack Henry & Associates q		5,630		122
JDA Software l		1,749		30
KEMET lq		5,808		8
Keynote Systems l		988		14
The Knot l		2,043		18
Kopin l		4,933		16
Kulicke & Soffa lq		4,267		27
L-1 Identity Solutions lq		4,768		64
Landauer		708		46
Lattice Semiconductor l		8,530		21
Lawson Software l		9,403		76
Limelight Networks l		2,061		7
Liquidity Services l		1,046		11
Littelfuse l		1,531		49
LoopNet lq		2,118		24
Loral Space & Communications l		614		10
LTX l		4,788		10
Macrovision Solutions lq		6,040		92
Magma Design Automation l		2,997		19
Manhattan Associates lq		1,870		46
ManTech International lq		1,486		83
Marchex q		1,947		23
Mattson Technology l		3,640		16
Maximus		1,250		46
Maxwell Technologies lq		1,305		18
Measurement Specialties l		1,108		19
Mentor Graphics lq		6,649		92
Mercadolibre lq		1,867		67
Methode Electronics, Class A		2,784		31
Micrel q		3,801		36
MICROS Systems lq		5,966		189
Microsemi lq		5,761		150
MicroStrategy l		655		40
Microtune l		4,026		13
Midway Games lq		1,434		5
MIPS Technologies, Class A l		3,287		12
MKS Instruments lq		3,606		74
Monolithic Power Systems l		1,866		41
Monotype Imaging Holdings l		1,078		14
MPS Group lq		7,093		82
MRV Communications l		11,239		15
MSC.Software l		3,042		38
MTS Systems q		1,212		51
Multi-Fineline Electronix lq		630		17
NCI l		465		11
Ness Technologies lq		2,804		35
Net 1 UEPS Technologies l		3,294		78
Netezza l		2,820		37
NETGEAR lq		2,560		39
Netlogic Microsystems lq		1,266		41
NetScout Systems l		2,107		29
NetSuite lq		483		8
Neutral Tandem lq		1,191		21
Newport l		2,637		28
Nextwave Wireless lq		3,465		11
NIC		2,617		19
Novatel Wireless l		2,293		21
NVE l		332		9
Omniture lq		4,570		79
OmniVision Technologies lq		3,962		43
Online Resources l		2,061		14
OpenTV l		6,377		11
Oplink Communications l		1,330		14
OPNET Technologies l		943		10
Opnext l		1,250		7
Optium l		992		8
Orbcomm lq		2,261		15
OSI Systems lq		1,237		26
OYO Geospace l		317		15
Palm q		7,854		52
Parametric Technology lq		8,332		161
Park Electrochemical q		1,374		35
ParkerVision lq		1,644		18
PC Connection l		639		5
PC-Tel		1,492		16
Pegasystems		934		14
Perficient l		2,343		24
Pericom Semiconductor l		2,098		30
Perot Systems, Class A lq		6,013		101
Phase Forward lq		3,060		56
Phoenix Technologies l		1,968		24
Photon Dynamics l		1,270		19
Photronics lq		3,166		13
Plantronics		3,541		86
Plexus l		3,168		90
PLX Technology l		1,938		11
PMC-Sierra lq		16,021		116
Polycom lq		6,380		151
Power Integrations l		2,200		60
Powerwave Technologies lq		9,626		39
Presstek l		1,973		11
Progress Software l		3,043		90
PROS Holdings l		920		10
QAD		1,086		8
Quality Systems q		1,283		42
Quantum lq		14,750		24
Quest Software l		5,173		78
Rackable Systems l		2,187		28
Radiant Systems l		1,920		22
RadiSys l		1,565		18
Radyne l		1,345		15
RealNetworks l		6,510		45
Renaissance Learning		576		7
RF Micro Devices lq		19,271		63
RightNow Technologies lq		1,988		32
Rimage l		691		10
Riverbed Technology l		4,108		65
Rofin-Sinar Technologies lq		2,175		74
Rogers l		1,298		54
Rubicon Technology l		948		12
Rudolph Technologies lq		2,212		19
S1 l		3,862		31
Safeguard Scientifics l		9,654		13
Sanmina l		38,889		69
Sapient l		6,278		41
SAVVIS lq		2,687		43
ScanSource lq		1,902		58
SeaChange International l		2,075		15
Secure Computing l		3,785		15
Semitool l		1,632		15
Semtech lq		4,523		66
Shoretel lq		3,097		16
Sigma Designs lq		1,930		34
Silicon Image l		5,959		42
Silicon Storage Technology l		6,863		22
SiRF Technology Holdings l		4,337		15
Skyworks Solutions lq		11,941		113
Smart Modular Technologies l		3,468		14
Smith Micro Software lq		2,201		16
Solera Holdings l		3,689		107
Sonic Solutions lq		2,098		11
SonicWALL lq		4,376		26
Sonus Networks lq		16,382		59
Sourcefire l		1,431		11
Spansion l		9,120		21
SPSS lq		1,264		42
SRA International, Class A l		2,968		65
Standard Microsystems lq		1,674		44
Starent Networks lq		2,179		29
STEC l		2,302		23
Stratasys lq		1,512		24
SuccessFactors lq		1,634		17
Super Micro Computer l		1,581		12
Superior Essex l		1,435		65
Supertex l		721		22
Supportsoft l		3,308		11
Switch & Data Facilities l		1,467		25
Sybase lq		5,736		193
Sycamore Networks lq		14,007		49
Sykes Enterprises lq		2,359		42
Symmetricom l		3,733		18
Synaptics lq		1,661		80
Synchronoss Technologies lq		1,569		18
SYNNEX lq		1,245		29
Syntel		923		30
Take-Two Interactive Software l		5,631		128
TASER International lq		4,529		23
Technitrol		3,039		43
Techtarget lq		995		7
Techwell lq		1,055		12
Tekelec l		4,778		74
Telecommunication Systems l		2,407		13
Terremark Worldwide l		3,825		26
Tessera Technologies lq		3,543		62
TheStreet.com q		1,404		10
THQ lq		4,822		73
TIBCO Software lq		13,532		111
TNS l		1,921		44
Transmeta lq		869		13
Trident Microsystems l		4,469		13
TriQuint Semiconductor lq		10,586		60
TTM Technologies l		3,088		35
Tyler Technologies l		2,709		43
Ultimate Software Group l		1,781		47
Ultra Clean Holdings l		1,286		8
Ultratech l		1,713		25
Unica l		1,011		9
United Online q		4,924		53
Universal Display lq		2,119		29
UTStarcom lq		8,093		38
ValueClick lq		6,972		83
Vasco Data Security International l		1,968		27
Veeco Instruments lq		2,187		36
VeriFone Holdings lq		5,005		75
ViaSat l		1,856		43
Vignette l		1,981		22
Virtusa l		631		4
Vocus lq		1,149		41
Volterra Semiconductor l		1,813		30
Websense lq		3,307		69
Website Pros l		1,976		13
Wind River Systems lq		5,275		62
Wright Express lq		2,843		75
Zoran lq		3,685		30
Zygo l		1,164		13
				13,826
Materials - 4.5%
A. Schulman q		1,723		40
A.M. Castle & Company q		1,209		24
Abitibibowater lq		3,894		33
AEP Industries l		383		7
Allied Nevada Gold l		3,218		20
AMCOL International q		1,889		60
American Vanguard q		1,515		20
Apex Silver Mines lq		4,014		25
Arch Chemicals		1,798		58
Balchem		1,293		33
Boise l		2,614		10
Brush Engineered Metals l		1,494		36
Buckeye Technologies l		2,802		27
BWAY Holding Company l		534		5
Calgon Carbon lq		2,960		56
Cambrex		1,941		15
Coeur D'Alene Mines lq		39,389		114
Compass Minerals International		2,373		179
Deltic Timber		764		47
Esmark l		1,154		22
Ferro		3,202		70
Flotek Industries lq		1,659		30
General Moly lq		4,485		34
General Steel Holdings lq		769		11
Gibraltar Industries		1,922		30
Glatfelter		3,234		47
GrafTech International lq		7,561		177
Graphic Packaging Holding l		10,332		23
H.B. Fuller q		3,824		96
Haynes International lq		872		41
Headwaters lq		3,076		40
Hecla Mining lq		9,143		84
Hercules q		8,184		164
Horsehead Holding l		2,557		31
Innophos Holdings		761		22
Innospec q		1,713		30
Kaiser Aluminum		1,154		61
Kapstone Paper & Packaging lq		1,282		10
Koppers Holdings q		1,526		66
Landec l		1,699		15
Louisiana Pacific		7,566		64
LSB Industries lq		1,243		27
Mercer International l		2,206		14
Minerals Technologies q		1,384		89
Myers Industries		1,938		22
Neenah Paper		1,044		19
NewMarket Group q		987		61
NL Industries		706		7
NN		1,134		15
Northwest Pipe lq		670		39
Olin q		5,476		163
Olympic Steel q		662		34
OM Group lq		2,238		75
Penford q		804		12
PolyOne l		6,833		51
Quaker Chemical q		735		22
Rock-Tenn, Class A q		2,793		99
Rockwood Holdings lq		3,054		117
Royal Gold q		2,063		74
RTI International Metals l		1,685		46
Schweitzer-Mauduit International		1,109		21
Sensient Technologies		3,186		99
ShengdaTech lq		2,181		21
Silgan Holdings q		1,825		96
Solutia l		4,452		68
Spartech		2,179		22
Stepan		454		26
Stillwater Mining lq		2,903		28
Sutor Tech Group l		545		4
Symyx Technologies l		2,306		22
Texas Industries q		1,776		92
United States Lime & Minerals l		128		5
Universal Stainless & Alloy l		485		19
Uranium Resources lq		3,559		10
US Concrete lq		2,912		12
USEC lq		8,144		43
Verso Paper l		1,002		6
W.R. Grace & Company lq		5,282		136
Wausau-Mosinee Paper		3,341		30
Westlake Chemical		1,371		24
Worthington Industries q		4,712		84
Zep		1,649		28
Zoltek Companies lq		2,016		45
				3,904
Telecommunication Services - 1.2%
Alaska Communications Systems Group q		2,892		37
Aruba Networks lq		3,738		22
Atlantic Tele-Network		676		21
Bigband Networks l		2,349		10
Cbeyond lq		1,712		29
Centennial Communications, Class A l		4,815		39
Cincinnati Bell lq		18,188		71
Cogent Communications Group lq		3,451		42
Consolidated Communications Holdings		1,555		22
EMS Technologies l		1,218		25
FairPoint Communications q		6,365		44
Fibertower lq		8,601		10
General Communication, Class A l		4,070		36
Global Crossing lq		2,326		38
GlobalStar lq		1,402		4
Hungarian Telephone & Cable l		221		5
ICO Global Communication Holdings l		7,490		29
IDT		3,472		6
Iowa Telecommunication Services		2,146		40
iPCS l		1,256		34
NTELOS Holdings		2,190		52
Paetec Holding lq		9,052		53
Premiere Global Services lq		4,672		71
Rural Cellular lq		957		43
Shenandoah Telecommunications		1,724		26
Syniverse Holdings l		3,759		61
Terrestar l		4,157		12
tw telecom l		10,777		172
USA Mobility		1,561		13
Virgin Mobile USA, Class A lq		2,197		6
Vonage Holdings lq		4,420		6
				1,079
Utilities - 3.1%
Allete q		1,749		74
American States Water q		1,467		53
Avista q		3,641		82
Black Hills		2,766		89
California Water Service q		1,437		53
Central Vermont Public Service q		710		16
CH Energy Group q		1,173		42
Chesapeake Utilities		486		14
CLECO q		4,410		111
Connecticut Water Service		303		8
Consolidated Water q		1,001		21
El Paso Electric l		3,146		65
Empire District Electric q		2,277		46
EnergySouth q		556		34
IDACORP q		3,303		98
ITC Holdings		3,620		189
Laclede Group		1,862		79
MGE Energy q		1,789		63
Middlesex Water q		949		16
New Jersey Resources q		2,971		101
Nicor q		3,094		123
Northwest Natural Gas q		1,701		77
NorthWestern q		2,652		66
Ormat Technologies		1,312		63
Otter Tail q		2,227		101
Piedmont Natural Gas q		4,996		134
PNM Resources		5,636		66
Portland General Electric		4,472		105
SJW q		1,269		33
South Jersey Industries q		2,417		90
Southwest Gas q		2,896		84
Southwest Water q		1,726		19
Synthesis Energy Systems l		1,378		11
US Geothermal lq		4,435		10
UIL Holdings q		1,936		61
UniSource Energy Holding q		2,522		77
Westar Energy q		7,586		167
WGL Holdings q		3,580		124
				2,665
Total Common Stocks
(Cost $68,493)				79,079

Right - 0.0%
Standard Pacific l		5,215		1
(Cost $9)
Warrants § - 0.0%
Lantronix		39		—
Pegasus Wireless		604		—
(Cost $0)				—
Short-Term Investments - 9.4%
Money Market Fund - 8.7%
First American Prime Obligations Fund, Class Z
2.468%, 12/31/2031 ±		7,638,951		7,639
U.S. Treasury Obligation - 0.7%	PAR
U.S. Treasury Bill
1.778%, 12/18/2008 £	$	600		596
Total Short-Term Investments
(Cost $8,234)				8,235
Investment Purchased with Proceeds from Securities Lending - 45.1%	SHARES
Mount Vernon Securities Lending Prime Portfolio †
(Cost $39,446)		39,445,580		39,446
Total Investments u - 145.0%
(Cost $116,182)				126,760
Other Assets and Liabilities, Net - (45.0)%				(39,340	)
Total Net Assets - 100.0%			$	87,420

+	Security valuations for the fund’s investments are furnished by an independent pricing service that has been approved by the fund’s board of directors. Securities for which prices are not available from an independent pricing service, but where an active market exists, are valued using market quotations obtained from one or more dealers that make markets in the securities or from a widely-used quotation system. When market quotations are not readily available, securities are valued at fair value as determined in good faith by procedures established and approved by the fund’s board of directors. Debt obligations with 60 days or less remaining until maturity may be valued at their amortized cost, which approximates market value. As of July 31, 2008, the fund held fair valued securities as described in footnote §.
l	Non-income producing security.
q	This security or a portion of this security is out on loan at July 31, 2008.  Total loaned securities had a market value of $37,293 at July 31, 2008.
¥	Security is illiquid.  As of July 31, 2008, the value of this investment was $63 or 0.1% of total net assets.  Information concerning the illiquid security is as follows:
			Dates
	Security	Shares	Acquired		Cost Basis
	GMX Resources	1,072	6/06 to 7/08		39
§	Security is fair-valued and illiquid.  As of July 31, 2008, the fair value of these investments was $0 or 0.0% of total net assets.  Information concerning the illiquid securities is as follows:
			Dates
	Security	Shares	Acquired		Cost Basis
	FirstBank, fractional share	0.29	8/05		$                   —
	Lantronix, warrants	39	5/08		—
	National Penn Bancshares, fractional share	0.50	10/05		—
	Pegasus Wireless, warrants	604	6/06		—
	Petrocorp, escrow shares	2040	6/03 to 8/05		—
±	Investment in affiliated security.  This money market fund is advised by FAF Advisors, Inc., which also serves as advisor to this fund.
£	Security has been deposited as initial margin on open futures contracts.  Yield shown is effective yield as of July 31, 2008.
†	In order to generate additional income, the fund may loan securities representing up to one third of the value of its total assets (which includes collateral for securities on loan) to broker-dealers, banks, or other institutional borrowers of securities. The fund maintains collateral equal to at least 100% of the value of the securities loaned. The adequacy of the collateral is monitored on a daily basis. The cash collateral received by the fund is invested in this affiliated money market fund.
u	On July 31, 2008, the cost of investments for federal income tax purposes was approximately $116,182.  The approximate aggregate gross unrealized appreciation and depreciation of investments, based on this cost, were as follows:
	Gross unrealized appreciation		$23,149
	Gross unrealized depreciation		(12,570	)
	Net unrealized appreciation		$10,579
REIT -	Real Estate Investment Trust

Schedule of Open Futures Contracts
	Number of	Notional
	Contracts	Contract	Settlement	Unrealized
Description	Purchased	Value	Month	Appreciation
Russell 2000 Futures	22	$7,871	September 2008	$54

Schedule of INVESTMENTSJuly 31, 2008 (unaudited), all dollars rounded to thousands (000)
Quantitative Large Cap Core Fund
DESCRIPTION	SHARES		VALUE+
Common Stocks - 94.9%
Consumer Discretionary - 10.5%
Amazon.com ql		2,720	$	208
Apollo Group, Class A ql		4,314		269
AutoNation ql		23,302		240
Bed Bath & Beyond l		1,006		28
Best Buy l		1,454		58
Carnival l		14,311		529
CBS, Class B l		4,687		77
Coach ql		3,260		83
Comcast, Class A q		21,830		450
Darden Restaurants q		4,943		161
Dillard's, Class A q		10,828		109
Expedia ql		10,381		203
Family Dollar Stores q		4,259		99
Fortune Brands q		4,028		231
Gannett q		11,987		217
Gap q		2,785		45
Harman International Industries q		2,004		83
Home Depot q		14,254		340
IAC/InterActiveCorp ql		12,520		219
International Game Technology q		4,753		103
J.C. Penney q		3,475		107
Johnson Controls q		2,393		72
Jones Apparel Group q		7,311		122
Kohl's ql		2,607		109
Limited Brands q		7,151		118
Liz Claiborne q		12,042		157
Lowe's q		15,361		312
Macy's q		10,294		194
Marriott International, Class A q		789		20
Mattel		3,268		66
McDonald's		3,299		197
McGraw-Hill q		1,641		67
Newell Rubbermaid		13,624		225
News, Class A		38,119		539
Nike, Class B q		1,580		93
Nordstrom q		693		20
Office Depot ql		25,777		175
RadioShack q		12,714		212
Scripps Networks Interactive, Class A ql		1,128		46
Sherwin-Williams q		1,791		95
Snap-On q		2,786		157
Stanley Works		4,618		205
Staples q		9,270		209
Starbucks ql		12,600		185
Target q		1,262		57
Tiffany & Company q		1,692		64
Time Warner q		33,143		475
VF q		1,665		119
Viacom, Class B l		14,328		400
Walt Disney q		10,111		307
Wendy's International		6,207		142
Wyndham Worldwide		16,953		304
Yum! Brands q		947		34
				9,356
Consumer Staples - 10.1%
Altria Group		25,662		522
Anheuser-Busch q		4,208		285
Archer-Daniels-Midland q		7,520		215
Avon Products q		2,457		104
Brown-Forman, Class B		2,742		197
Campbell Soup		5,344		194
Clorox q		1,943		106
Coca-Cola		11,857		611
Coca-Cola Enterprises q		11,839		200
Colgate-Palmolive q		786		58
ConAgra Foods		15,162		329
Constellation Brands, Class A ql		5,247		113
CVS Caremark		4,987		182
Estee Lauder, Class A q		479		21
General Mills q		1,006		65
H.J. Heinz		512		26
Hershey q		708		26
Kimberly-Clark		5,158		298
Kraft Foods, Class A		10,881		346
Kroger q		8,687		246
McCormick q		6,818		273
Molson Coors Brewing, Class B q		3,921		212
Pepsi Bottling Group		8,779		245
PepsiCo		7,083		471
Philip Morris International l		4,168		215
Procter & Gamble		22,474		1,472
Safeway q		6,529		175
Sara Lee		21,257		290
SUPERVALU q		5,536		142
Sysco q		11,137		316
Tyson Foods, Class A		7,985		119
Walgreen q		8,817		303
Wal-Mart Stores q		9,906		581
Whole Foods Market q		667		15
Wrigley, William Jr.		545		43
				9,016
Energy - 15.6%
Anadarko Petroleum q		4,531		262
Apache q		3,799		426
Baker Hughes		3,787		314
BJ Services q		7,936		233
Chevron q		18,926		1,600
ConocoPhillips q		14,727		1,202
CONSOL Energy q		1,092		81
Devon Energy		4,083		388
El Paso		2,102		38
ENSCO International q		2,417		167
EOG Resources q		649		65
Exxon Mobil		44,035		3,542
Halliburton q		3,526		158
Hess q		2,490		253
Marathon Oil		9,952		492
Murphy Oil q		1,646		131
Nabors Industries ql		3,030		111
National-Oilwell Varco ql		3,306		260
Noble Energy q		3,007		222
Noble q		7,074		367
Occidental Petroleum		8,953		706
Peabody Energy q		1,184		80
Range Resources q		1,274		62
Schlumberger		9,595		975
Smith International q		1,021		76
Southwestern Energy l		1,191		43
Spectra Energy		16,649		452
Sunoco q		3,619		147
Tesoro q		11,031		170
Transocean l		1,419		193
Valero Energy		11,127		372
Weatherford International ql		1,926		73
XTO Energy		3,598		170
				13,831
Financials - 2.5%
American International Group q		18,901		492
Bank of America q		11,782		388
Cincinnati Financial		880		25
Citigroup q		4,572		85
Fifth Third Bancorp q		15,195		212
Genworth Financial, Class A		2,496		40
Huntington Bancshares q		16,316		115
JPMorgan Chase q		8,072		328
KeyCorp q		2,784		29
Leucadia National q		2,289		102
Loew's q		2,094		93
Marshall & Ilsley q		3,552		54
Prudential Financial q		446		31
Regions Financial q		12,463		118
Wachovia q		2,376		41
XL Capital, Class A q		2,271		41
				2,194
Healthcare - 14.1%
Abbott Laboratories		9,512		536
Aetna		6,105		250
AmerisourceBergen		1,717		72
Amgen ql		12,310		771
Applied Biosystems		4,269		158
Barr Pharmaceuticals ql		859		57
Baxter International		3,729		256
Becton, Dickinson & Company		3,130		266
Biogen IDEC ql		2,564		179
Boston Scientific ql		24,642		293
Bristol-Myers Squibb		21,367		451
C.R. Bard q		1,691		157
Cardinal Health q		4,127		222
CIGNA		4,966		184
Coventry Health Care ql		5,751		203
Covidien		4,167		205
Eli Lilly q		6,213		293
Forest Laboratories l		6,232		221
Genzyme ql		2,534		194
Gilead Sciences ql		2,786		150
Hospira ql		2,840		108
Humana l		3,356		147
Intuitive Surgical ql		114		35
Johnson & Johnson q		20,701		1,417
King Pharmaceuticals ql		19,501		224
McKesson q		2,008		112
Medco Health Solutions l		510		25
Medtronic q		6,321		334
Merck		18,167		598
Patterson Companies ql		6,271		196
PerkinElmer		14,624		426
Pfizer		56,563		1,056
Schering-Plough q		16,396		346
St. Jude Medical ql		3,145		147
Stryker q		3,781		243
Thermo Fisher Scientific ql		5,153		312
UnitedHealth Group		16,526		464
Varian Medical Systems ql		3,369		202
Watson Pharmaceuticals l		4,066		118
WellPoint l		7,126		374
Wyeth q		8,290		336
Zimmer Holdings l		3,498		241
				12,579
Industrials - 10.2%
3M q		5,722		403
Allied Waste Industries l		17,385		210
Avery Dennison q		3,722		164
Boeing		5,772		353
Caterpillar q		1,558		108
Cintas q		17,141		487
Cooper Industries, Class A		5,755		243
CSX		1,091		74
Cummins q		736		49
Deere & Company		1,091		77
Dover q		4,888		243
Eaton		950		67
Emerson Electric		5,393		263
FedEx q		611		48
General Dynamics q		1,919		171
General Electric		57,936		1,639
Goodrich q		4,351		214
Honeywell International		6,654		338
Illinois Tool Works		956		45
Ingersoll-Rand, Class A q		6,518		235
ITT q		1,890		127
L-3 Communications Holdings q		1,274		126
Manitowoc q		2,950		78
Monster Worldwide l		9,071		161
Norfolk Southern q		3,524		253
Northrop Grumman		3,306		223
Pall		2,007		81
Parker Hannifin q		2,273		140
Precision Castparts		1,198		112
R.R. Donnelley & Sons		1,219		33
Robert Half International q		10,762		272
Rockwell Automation q		4,813		214
Rockwell Collins		8,048		400
Ryder System q		900		59
Terex l		3,004		142
Textron		3,227		140
Tyco International		2,346		104
Union Pacific		595		49
United Technologies		9,724		622
Waste Management		8,351		297
				9,064
Information Technology - 17.0%
Adobe Systems ql		4,546		188
Agilent Technologies ql		4,994		180
Akamai Technologies l		3,254		76
Apple ql		5,919		941
Applied Materials		3,593		62
Autodesk ql		6,368		203
BMC Software l		5,412		178
Broadcom, Class A ql		2,533		62
CA		6,125		146
Ciena ql		1,972		41
Cisco Systems ql		46,561		1,024
Citrix Systems ql		5,441		145
Cognizant Technology Solutions, Class A ql		981		28
Computer Sciences ql		3,673		174
Compuware l		35,117		386
Convergys l		16,563		210
Corning		10,389		208
Dell ql		16,977		417
eBay ql		11,287		284
Electronic Arts ql		4,482		194
Electronic Data Systems		5,448		135
EMC ql		14,847		223
Google, Class A l		1,872		887
Hewlett-Packard		13,634		611
IBM		5,269		674
Intel q		35,284		783
Intuit ql		6,600		180
Jabil Circuit		10,677		174
JDS Uniphase l		3,579		39
Juniper Networks ql		6,110		159
Lexmark International, Class A ql		1,639		58
MEMC Electronic Materials l		801		37
Microsoft		63,797		1,641
Molex		7,598		186
Motorola q		38,771		335
National Semiconductor		2,362		49
NetApp ql		4,303		110
Novell l		22,784		127
NVIDIA l		10,904		125
Oracle l		42,976		925
QLogic ql		6,939		131
QUALCOMM		10,300		570
SanDisk ql		5,193		73
Sun Microsystems l		19,216		204
Symantec ql		10,444		220
Tellabs ql		43,443		223
Teradata l		2,451		57
Teradyne l		11,325		106
Texas Instruments q		5,168		126
Total System Services		4,596		90
Tyco Electronics q		7,391		245
Unisys ql		27,924		103
VeriSign ql		602		20
Waters ql		2,381		162
Xerox q		14,934		204
				15,139
Materials - 4.9%
AK Steel Holding q		3,251		206
Alcoa q		8,519		287
Allegheny Technologies q		2,345		111
Ashland q		2,435		102
Ball q		1,181		53
Bemis q		10,151		286
Dow Chemical q		12,370		412
E.I. Du Pont de Nemours q		7,175		314
Eastman Chemical		906		54
Freeport-McMoRan Copper & Gold q		1,592		154
Hercules q		7,942		159
International Flavors & Fragrances q		3,280		132
International Paper q		7,786		216
Massey Energy		509		38
MeadWestvaco		5,643		151
Monsanto		3,423		408
Nucor q		3,478		199
Pactiv l		12,095		292
PPG Industries		4,608		279
Sealed Air q		8,389		182
Titanium Metals q		7,604		86
United States Steel		1,303		209
				4,330
Telecommunication Services - 3.6%
AT&T		51,080		1,574
CenturyTel		7,675		285
Qwest Communications International q		37,020		142
Sprint Nextel		24,791		202
Verizon Communications q		29,146		992
				3,195
Utilities - 6.4%
Ameren q		5,305		218
American Electric Power		5,194		205
CenterPoint Energy		27,853		439
Consolidated Edison q		4,892		194
Dominion Resources q		3,368		149
DTE Energy q		7,256		297
Duke Energy q		10,146		178
Edison International		2,161		105
FPL Group q		189		12
Integrys Energy Group q		13,277		678
NiSource		42,903		733
Pepco Holdings		17,922		447
PG&E		9,993		385
Pinnacle West Capital q		9,283		312
Progress Energy q		2,357		100
Public Service Enterprise Group		4,470		187
Questar		5,033		266
Sempra Energy q		6,858		385
Southern q		1,317		47
TECO Energy		2,970		55
Xcel Energy q		17,519		351
				5,743
Total Common Stocks
(Cost $88,953)				84,447
Short-Term Investments - 4.6%
Money Market Fund - 3.6%
First American Prime Obligations Fund, Class Z ±		3,191,343		3,191
U.S. Treasury Obligation - 1.0%
U.S. Treasury Bill £	PAR
1.778%, 12/18/2008	$	900		894
Total Short-Term Investments
(Cost $4,084)				4,085
Investment Purchased with Proceeds from Securities Lending - 41.7%
Mount Vernon Securities Lending Prime Portfolio †	SHARES
		37,092,101		37,092
Total Investments u - 141.2%
(Cost $130,129)				125,624
Other Assets and Liabilities, Net - (41.2)%				(36,680	)
Total Net Assets - 100.0%			$	88,944

+	Security valuations for the fund’s investments are furnished by an independent pricing service that has been approved by the fund’s
	board of directors. Securities for which prices are not available from an independent pricing service, but where an active market exists,
	are valued using market quotations obtained from one or more dealers that make markets in the securities or from a widely-used quotation
	system. When market quotations are not readily available, securities are valued at fair value as determined in good faith by procedures
	established and approved by the fund’s board of directors. Debt obligations with 60 days or less remaining until maturity may be valued at
	their amortized cost, which approximates market value. As of July 31, 2008, the fund held no fair valued securities.
q	This security or a portion of this security is out on loan at July 31, 2008.  Total loaned securities had a market value of $35,578 at
	July 31, 2008.
l	Non-income producing security.
±	Investment in affiliated security.  This money market fund is advised by FAF Advisors, Inc., which also serves as advisor to this fund.
£	Security has been deposited as initial margin on open futures contracts.  Yield shown is the effective yield as of July 31, 2008.
†	In order to generate additional income, the fund may loan securities representing up to one third of the value of its total assets (which includes collateral for securities on loan) to broker-dealers, banks, or other institutional borrowers of securities. The fund receives collateral equal to at least 100% of the value of the securities loaned. The adequacy of the collateral is monitored on a daily basis. The cash collateral received by the fund is invested in this affiliated money market fund.
u	On July 31, 2008, the cost of investments for federal income tax purposes was approximately $130,939.  The approximate aggregate gross unrealized appreciation and depreciation of investments, based on this cost, were as follows:
	Gross unrealized appreciation	$2,497
	Gross unrealized depreciation	(7,002	)
	Net unrealized depreciation	$(4,505	)
	Schedule of Open Futures Contracts
		Number of		Notional
		Contracts		Contract	Settlement	Unrealized
	Description	Purchased		Value	Month	Appreciation
	S&P 500 Futures	8		$       2,534	September 2008	$                 43

Schedule ofINVESTMENTS July 31, 2008 (unaudited), all dollars are rounded to thousands (000)
Quantitative Large Cap Growth Fund
DESCRIPTION	SHARES		VALUE+
Common Stocks - 96.3%
Consumer Discretionary - 7.6%
Advance Auto Parts		104	$	4
Amazon.com lq		715		55
American Eagle Outfitters		954		13
Apollo Group, Class A l		556		35
AutoNation lq		1,297		13
Bed Bath & Beyond l		168		5
Best Buy q		251		10
Boyd Gaming q		364		4
Brinker International		136		2
Burger King Holdings		522		14
Carnival q		876		32
Coach lq		516		13
CTC Media l		298		7
Darden Restaurants		158		5
DeVry		350		20
DIRECTV Group lq		278		8
DISH Network, Class A l		185		5
Dollar Tree l		630		24
DreamWorks Animation, Class A l		586		17
Expedia lq		1,352		26
Foot Locker q		792		12
Fortune Brands q		200		11
GameStop, Class A lq		106		4
Garmin q		506		18
Hearst-Argyle Television q		1,615		34
Hillenbrand l		735		17
Home Depot q		257		6
IAC/InterActiveCorp l		790		14
International Game Technology		260		6
Johnson Controls q		224		7
Jones Apparel Group q		70		1
Kohl's lq		318		13
Las Vegas Sands lq		242		11
Liberty Media Capital, Series A l		124		2
Liberty Media Entertainment, Series A l		715		18
Limited Brands q		831		14
Lowe's q		1,019		21
Macy's q		549		10
McDonald's		1,191		71
MGM MIRAGE lq		437		13
Newell Rubbermaid		1,122		19
News, Class A		2,694		38
Nike, Class B q		327		19
Office Depot l		2,002		14
OfficeMax q		979		12
Omnicom Group q		45		2
O'Reilly Automotive l		443		11
Penn National Gaming l		635		18
Penske Automotive Group q		617		8
PetSmart q		777		18
Phillips Van-Heusen q		298		11
RadioShack		35		1
Ross Stores q		284		11
Royal Caribbean Cruises q		472		12
Service International q		837		8
Snap-On q		299		17
Stanley Works		278		12
Staples q		1,690		38
Starbucks lq		1,346		20
Target q		851		38
Tim Hortons q		1,001		27
TJX q		130		4
Viacom, Class B l		1,672		47
Warner Music Group		431		4
Wendy's International		269		6
Wyndham Worldwide		920		17
Yum! Brands q		251		9
				1,056
Consumer Staples - 11.0%
Alberto-Culver		2,179		58
Altria Group		2,160		44
Anheuser-Busch q		457		31
Archer-Daniels-Midland q		308		9
Avon Products q		645		27
Brown-Forman, Class B		484		35
Campbell Soup		433		16
Church & Dwight q		364		20
Coca-Cola		2,310		119
Coca-Cola Enterprises		612		10
Colgate-Palmolive q		577		43
ConAgra Foods		622		13
Corn Products International		608		28
Costco Wholesale q		405		25
CVS Caremark		286		10
Del Monte Foods		4,632		39
Dr. Pepper Snapple Group lq		695		14
Energizer Holdings lq		147		11
Estee Lauder, Class A q		40		2
Hormel Foods		1,016		37
JM Smucker		826		40
Kimberly-Clark		534		31
Kroger q		756		21
McCormick q		720		29
Molson Coors Brewing, Class B q		354		19
NBTY l		711		25
Pepsi Bottling Group		816		23
PepsiAmericas		2,054		49
PepsiCo		2,017		134
Philip Morris International		2,505		129
Procter & Gamble		1,984		130
Safeway q		103		3
Sara Lee		1,964		27
SUPERVALU		367		9
Sysco q		1,822		52
Tyson Foods, Class A		121		2
Walgreen q		1,473		51
Wal-Mart Stores q		2,431		143
Wrigley, William Jr.		248		20
				1,528
Energy - 13.0%
Apache		77		9
Arch Coal		261		15
Baker Hughes		675		56
BJ Services q		230		7
Cabot Oil & Gas q		166		7
Chevron		422		36
Cimarex Energy		319		17
CNX Gas lq		2,233		70
ConocoPhillips q		130		11
CONSOL Energy q		358		27
Continental Resources lq		510		29
Denbury Resources lq		856		24
Diamond Offshore Drilling q		170		20
Dresser-Rand Group l		883		34
ENSCO International q		164		11
EOG Resources q		201		20
Exxon Mobil		2,457		198
FMC Technologies lq		315		19
Frontier Oil q		582		11
Global Industries l		1,648		20
Halliburton q		1,202		54
Helix Energy Solutions Group l		415		13
Helmerich & Payne q		341		20
Hess q		589		60
Holly		436		12
Marathon Oil		151		7
Mariner Energy l		242		6
Murphy Oil		385		31
National-Oilwell Varco lq		765		60
Noble q		987		51
Noble Energy q		128		9
Occidental Petroleum		1,902		150
Oceaneering International lq		290		18
Patriot Coal l		41		5
Patterson-UTI Energy q		672		19
Peabody Energy q		426		29
Petrohawk Energy l		152		5
Plains Exploration & Production l		100		6
Pride International lq		530		21
Quicksilver Resources lq		52		1
Range Resources q		239		12
SandRidge Energy l		299		15
Schlumberger		2,328		236
SEACOR Holdings lq		211		18
Smith International q		181		13
Southwestern Energy l		407		15
Spectra Energy		1,438		39
St. Mary Land & Exploration q		341		14
Sunoco q		252		10
Superior Energy Services l		524		25
Tesoro q		604		9
TETRA Technologies l		963		18
Transocean l		390		53
Unit lq		533		36
Valero Energy		809		27
W&T Offshore q		242		11
Weatherford International lq		426		16
Whiting Petroleum l		90		8
XTO Energy		331		16
				1,809
Financials - 0.4%
Covanta Holding lq		1,632		46
MSCI, Class A lq		212		6
				52
Healthcare - 14.5%
Abbott Laboratories		2,702		152
Aetna		1,035		42
Allergan		136		7
Amgen lq		336		21
APP Pharmaceuticals l		194		5
Applied Biosystems		843		31
Barr Pharmaceuticals lq		89		6
Baxter International		1,101		76
Beckman Coulter		595		43
Becton, Dickinson & Company		609		52
Biogen Idec lq		580		40
Boston Scientific lq		1,100		13
Bristol-Myers Squibb		4,295		91
C.R. Bard q		312		29
Cardinal Health q		750		40
Celgene l		284		21
Charles River Laboratories International lq		112		7
Coventry Health Care l		453		16
DENTSPLY International		886		36
Edwards Lifesciences lq		297		19
Eli Lilly q		562		27
Endo Pharmaceuticals Holdings l		741		17
Forest Laboratories l		912		32
Genentech lq		776		74
Gen-Probe lq		603		32
Genzyme l		584		45
Gilead Sciences lq		1,306		71
Health Net l		172		5
Henry Schein l		417		22
Hill-Rom Holdings		255		7
Hlth lq		1,653		18
Hospira l		348		13
Humana l		545		24
IDEXX Laboratories l		280		15
Intuitive Surgical lq		70		22
Johnson & Johnson		1,220		84
Kinetic Concepts lq		552		19
King Pharmaceuticals l		1,513		17
Lincare Holdings lq		195		6
McKesson q		393		22
Medco Health Solutions lq		466		23
Medtronic q		1,765		93
Merck		1,880		62
Patterson Companies lq		681		21
Pediatrix Medical Group lq		49		2
PerkinElmer		1,814		53
Pfizer		430		8
Pharmaceutical Product Development		132		5
Resmed lq		85		3
Schering-Plough q		3,495		74
Sepracor lq		795		14
St. Jude Medical lq		626		29
Stryker q		826		53
Techne l		474		38
Thermo Fisher Scientific lq		398		24
UnitedHealth Group		2,035		57
Varian Medical Systems lq		566		34
VCA Antech l		93		3
Warner Chilcott, Class A l		58		1
Watson Pharmaceuticals l		236		7
WellCare Health Plans l		297		12
WellPoint l		592		31
Wyeth q		157		6
Zimmer Holdings l		577		40
				2,012
Industrials - 10.5%
3M q		1,130		80
AGCO lq		136		8
Allied Waste Industries l		1,061		13
AMETEK		134		6
Avery Dennison		28		1
BE Aerospace l		1,001		26
Boeing		1,182		72
Brinks		443		31
Bucyrus International		101		7
Burlington Northern Santa Fe		235		24
Career Education lq		477		9
Carlisle Companies		743		23
Caterpillar q		690		48
Cintas		1,314		37
Cooper Industries, Class A		34		1
Copart lq		1,337		59
Crane q		548		19
CSX		16		1
Cummins q		279		19
Dover q		468		23
Emerson Electric		1,107		54
First Solar lq		160		46
Flowserve		25		3
Gardner Denver l		351		16
Goodrich q		620		30
Harsco q		42		2
Honeywell International		1,241		63
Hubbell, Class B q		323		14
IDEX q		205		8
ITT Educational Services l		91		8
Joy Global		340		25
Kennametal		642		19
Lennox International q		541		19
Lincoln Electric Holdings		15		1
Lockheed Martin q		275		29
Manitowoc q		508		13
Manpower		520		25
McDermott International l		335		16
Monster Worldwide l		607		11
MSC Industrial Direct, Class A q		236		11
Norfolk Southern q		458		33
Northrop Grumman		135		9
Pall		199		8
Parker Hannifin		229		14
Precision Castparts		167		16
Rambus l		546		9
Republic Services		2,581		84
Robert Half International q		1,276		32
Rockwell Automation q		401		18
Rockwell Collins		914		45
Shaw Group l		128		7
Spirit AeroSystems Holdings, Class A l		906		20
Stericycle lq		219		13
Teleflex q		335		21
Terex l		411		19
Textron		94		4
Thomas & Betts l		390		16
Timken q		923		31
Union Pacific		202		17
United Rentals lq		699		11
United Technologies		997		64
UTi Worldwide		466		9
Waste Management		917		33
WESCO International l		213		8
				1,461
Information Technology - 26.8%
Activision Blizzard l		1,230		44
ADC Telecommunications lq		197		2
Adobe Systems lq		1,109		46
Agilent Technologies lq		891		32
Akamai Technologies l		428		10
Altera q		43		1
Amdocs lq		1,526		46
Amphenol, Class A q		481		23
Apple lq		1,662		264
Applied Materials		1,886		33
Arrow Electronics lq		629		20
Atmel l		4,659		16
Autodesk lq		848		27
Automatic Data Processing		42		2
Avnet l		711		19
AVX		3,045		31
BMC Software l		954		31
Broadcom, Class A lq		641		16
Brocade Communications Systems lq		1,955		13
CA		634		15
Cadence Design Systems l		2,576		19
Cisco Systems lq		11,702		257
Citrix Systems lq		777		21
Cognizant Technology Solutions, Class A l		424		12
Computer Sciences l		97		5
Compuware l		4,104		45
Convergys l		1,476		19
Corning		2,786		56
Cypress Semiconductor lq		55		1
Dell lq		3,427		84
Diebold q		312		11
Dolby Laboratories, Class A lq		428		17
eBay lq		2,749		69
EchoStar, Class A lq		333		11
Electronic Arts lq		802		35
Electronic Data Systems		86		2
EMC l		3,440		52
F5 Networks lq		240		7
Fairchild Semiconductor International l		1,202		15
Genpact Limited l		303		4
Global Payments q		35		2
Google, Class A l		491		233
Harris		752		36
Hewitt Associates, Class A l		300		11
Hewlett-Packard		3,741		168
IBM		1,732		222
Ingram Micro, Class A lq		1,722		32
Integrated Device Technology l		721		7
Intel q		8,900		197
Intuit l		1,086		30
Jabil Circuit		780		13
JDS Uniphase l		79		1
Juniper Networks lq		1,008		26
Lam Research lq		142		5
McAfee lq		872		29
MEMC Electronic Materials l		116		5
Mettler-Toledo International l		384		41
Microsoft		16,120		415
National Instruments q		1,337		45
NCR l		859		23
NetApp lq		700		18
Novell l		2,092		12
NVIDIA l		1,101		13
Oracle l		9,399		202
QLogic lq		371		7
QUALCOMM		2,777		154
Red Hat lq		571		12
SanDisk lq		169		2
Sohu.com l		83		6
Sun Microsystems l		262		3
Symantec lq		241		5
Synopsys l		1,277		31
Tech Data l		111		4
Tellabs l		3,094		16
Teradata l		298		7
Teradyne l		247		2
Texas Instruments q		1,828		45
Total System Services		473		9
Trimble Navigation lq		684		23
Tyco Electronics q		287		9
Unisys l		1,083		4
Varian Semiconductor Equipment Associates l		146		4
VeriSign l		329		11
Vishay Intertechnology l		3,231		29
Waters l		354		24
Western Digital lq		387		11
Xerox q		811		11
Yahoo! lq		3,043		60
Zebra Technology, Class A lq		406		12
				3,720
Materials - 6.2%
Airgas		270		15
AK Steel Holding q		605		38
Albemarle		514		20
Alcoa		1,243		42
Allegheny Technologies q		362		17
Alpha Natural Resources l		43		4
Cabot Microelectronics		921		25
Carpenter Technology		497		19
Celanese, Class A q		333		13
Chemtura		2,273		15
Cleveland-Cliffs q		236		26
Commercial Metals		829		25
Cytec Industries		550		30
Domtar l		3,484		20
Dow Chemical q		230		8
E.I. Du Pont de Nemours q		21		1
Ecolab q		166		7
FMC		211		16
Huntsman		1,422		19
International Flavors & Fragrances q		163		6
Intrepid Potash l		141		8
Lubrizol		480		24
Massey Energy		112		8
Monsanto		1,039		124
Mosaic l		375		48
Nalco Holding q		67		2
Nucor q		293		17
Owens-Illinois l		144		6
Packaging Corporation of America q		278		7
Pactiv l		1,128		27
PPG Industries		243		15
Praxair		186		17
Reliance Steel & Aluminum q		275		17
RPM International		1,126		23
Scotts Miracle-Gro, Class A q		863		17
Sealed Air q		503		11
Sonoco Products		521		17
Southern Copper q		768		21
Steel Dynamics		343		11
Titanium Metals q		815		9
United States Steel		253		41
Valhi		406		9
Valspar q		368		8
				853
Telecommunication Services - 1.3%
American Tower, Class A l		183		8
CenturyTel		416		15
Leap Wireless International lq		93		4
MetroPCS Communications l		281		5
NII Holdings lq		584		32
Telephone & Data Systems		587		25
U.S. Cellular l		1,582		94
				183
Utilities - 5.0%
AGL Resources		2,412		83
Alliant Energy		1,698		55
Atmos Energy		1,629		43
Energen		320		19
Energy East		2,154		54
Integrys Energy Group		916		47
NiSource		2,061		35
NSTAR		514		16
OGE Energy		1,446		47
Pepco Holdings		672		17
PG&E		327		13
Puget Energy		1,158		32
Questar		564		30
SCANA		662		24
Sempra Energy q		288		16
Sierra Pacific Resources		444		5
Southern Union		773		20
UGI		3,272		89
Vectren		1,155		34
Xcel Energy q		647		13
				692
Total Common Stocks
(Cost $14,042)				13,366
Short-Term Investments - 3.3%
Money Market Fund - 2.4%
First American Prime Obligations Fund, Class Z ±		337,390		337
U.S. Treasury Obligation - 0.9%	PAR
U.S. Treasury Bill
1.778%, 12/18/2008 £	$	120		119
Total Short-Term Investments
(Cost $456)				456
Investment Purchased with Proceeds from Securities Lending - 36.2%
Mount Vernon Securities Lending Prime Portfolio †	SHARES
(Cost $5,035)		5,035,319		5,035
Total Investments u - 135.8%
(Cost $19,533)				18,857
Other Assets and Liabilities, Net - (35.8)%				(4,973	)
Total Net Assets - 100.0%			$	13,884

+	Security valuations for the fund's investments are furnished by an independent pricing service that has been approved by the fund's board of directors. Securities for which prices are not available from an independent pricing service, but where an active market exists, are valued using market quotations obtained from one or more dealers that make markets in the securities or from a widely-used quotation system. When market quotations are not readily available, securities are valued at fair value as determined in good faith by procedures established and approved by the fund's board of directors. Debt obligations with 60 days or less remaining until maturity may be valued at their amortized cost, which approximates market value. As of July 31, 2008, the fund held no fair valued securities.
l	Non-income producing security.
q	This security or a portion of this security is out on loan at July 31, 2008. Total loaned securities had a market value of $4,829 at July 31, 2008.
±	Investment in affiliated security. This money market fund is advised by FAF Advisors, Inc., which also serves as advisor to this fund.
£	Security has been deposited as initial margin on open futures contracts.  Yield shown is the effective yield as of July 31, 2008.
†	In order to generate additional income, the fund may loan securities representing up to one third of the value of its total assets (which includes collateral for securities on loan) to broker-dealers, banks, or other institutional borrowers of securities. The fund receives collateral equal to at least 100% of the value of the securities loaned. The adequacy of the collateral is monitored on a daily basis. The cash collateral received by the fund is invested in this affiliated money market fund.
u	On July 31, 2008, the cost of investments for federal income tax purposes was approximately $19,533.  The approximate aggregate gross unrealized appreciation and depreciation of investments, based on this cost, were as follows:
	Gross unrealized appreciation		$457
	Gross unrealized depreciation		(1,133	)
	Net unrealized depreciation		$(676	)
	Schedule of Open Futures Contracts
		Number of	Notional
		Contracts	Contract	Settlement	Unrealized
	Description	Purchased	Value	Month	Depreciation
	S&P 500 E-Mini Futures	4	$                 253	September 2008	$             (3	)

Schedule of INVESTMENTS (unaudited) July 31, 2008, all dollars are rounded to thousands (000)
Quantitative Large Cap Value Fund
DESCRIPTION	SHARES		VALUE +
Common Stocks - 96.7%
Consumer Discretionary - 11.1%
Advance Auto Parts		98	$	4
American Eagle Outfitters		1,001		14
Apollo Group, Class A l		216		13
AutoNation lq		2,153		22
Barnes & Noble q		119		3
Boyd Gaming q		1,330		13
Brinker International		389		7
CarMax lq		260		3
Carnival q		1,432		53
CBS, Class B q		269		4
Comcast, Class A q		2,207		46
Darden Restaurants		74		2
DeVry		95		5
Dollar Tree l		148		6
Expedia lq		698		14
Family Dollar Stores q		108		3
Foot Locker q		1,427		22
Fortune Brands q		266		15
Gannett q		1,113		20
Gap q		133		2
Garmin q		92		3
Harman International Industries q		122		5
Hearst-Argyle Television q		893		19
Hillenbrand		365		8
Home Depot q		2,321		55
IAC/InterActiveCorp l		984		17
J.C. Penney q		181		6
Jarden l		574		14
Jones Apparel Group q		323		5
Las Vegas Sands lq		262		12
Liberty Media Capital, Series A l		662		10
Liberty Media Entertainment, Series A lq		70		2
Liberty Media Interactive, Class A lq		1,667		23
Limited Brands q		79		1
Liz Claiborne		875		11
Lowe's q		2,059		42
Macy's q		829		16
McDonald's		126		8
MGM MIRAGE lq		717		21
Newell Rubbermaid		824		14
News, Class A		3,338		47
Office Depot l		2,485		17
OfficeMax q		1,413		18
O'Reilly Automotive l		500		13
Penn National Gaming l		507		14
Penske Automotive Group q		836		11
PetSmart q		172		4
RadioShack q		762		13
Royal Caribbean Cruises q		898		23
Service International		605		6
Snap-On q		78		4
Stanley Works		183		8
Time Warner		4,198		60
Viacom, Class B l		672		19
Walt Disney q		1,401		43
Warner Music Group		425		4
Wendy's International		157		4
Wyndham Worldwide		1,631		29
				900
Consumer Staples - 8.8%
Alberto-Culver		1,055		28
Altria Group		2,066		42
Anheuser-Busch q		251		17
Archer-Daniels-Midland q		987		28
Brown-Forman, Class B		156		11
Coca-Cola Enterprises		882		15
Coca-Cola		444		23
ConAgra Foods		1,636		36
Constellation Brands, Class A l		458		10
Corn Products International		417		19
CVS Caremark		108		4
Del Monte Foods		3,072		26
Dr. Pepper Snapple Group lq		887		18
Hormel Foods		537		19
JM Smucker		575		28
Kimberly-Clark		304		18
Kraft Foods, Class A		1,572		50
Kroger q		534		15
McCormick q		107		4
Molson Coors Brewing, Class B q		361		20
NBTY l		385		13
Pepsi Bottling Group		586		16
PepsiAmericas		1,276		30
Procter & Gamble		2,192		144
Safeway q		807		22
Sara Lee		1,404		19
Smithfield Foods lq		281		6
SUPERVALU		569		15
Sysco q		302		9
Tyson Foods, Class A		486		7
				712
Energy - 16.8%
Anadarko Petroleum		392		23
Apache q		391		44
Chevron		2,760		233
Cimarex Energy q		217		11
CNX Gas lq		681		21
ConocoPhillips q		2,007		164
Continental Resources lq		76		4
Devon Energy		423		40
Dresser-Rand Group l		218		8
EOG Resources q		38		4
Exxon Mobil		5,652		455
Forest Oil l		35		2
Frontier Oil q		449		8
Global Industries l		1,092		13
Helix Energy Solutions Group l		310		10
Helmerich & Payne q		147		9
Hess q		74		8
Holly		281		8
Marathon Oil		1,171		58
Murphy Oil		103		8
Noble Energy q		113		8
Noble q		102		5
Occidental Petroleum		431		34
Oceaneering International lq		16		1
Patterson-UTI Energy q		611		17
Pioneer Natural Resources		77		5
Plains Exploration & Production l		79		4
Pride International lq		73		3
SEACOR Holdings lq		49		4
Spectra Energy		1,423		39
St. Mary Land & Exploration q		146		6
Sunoco q		116		5
Superior Energy Services l		121		6
Tesoro q		823		13
TETRA Technologies l		517		10
Unit lq		293		20
Valero Energy		1,315		44
W&T Offshore q		134		6
XTO Energy		194		9
				1,370
Financials - 9.6%
American International Group q		3,017		79
Bank of America q		4,393		144
Cincinnati Financial		391		11
Citigroup q		4,809		90
Conseco l		996		8
Covanta Holding lq		586		16
Fifth Third Bancorp q		2,187		30
First Citizens Bancshares, Class A		68		10
Genworth Financial, Class A		851		14
Goldman Sachs Group q		59		11
Huntington Bancshares q		2,800		20
JPMorgan Chase q		3,316		135
KeyCorp q		850		9
Lehman Brothers Holdings q		259		4
Lincoln National		100		5
Loew's q		157		7
Marshall & Ilsley q		832		13
Merrill Lynch q		228		6
MF Global lq		365		2
Morgan Stanley q		360		14
MSCI, Class A lq		19		1
Principal Financial Group q		13		1
Prudential Financial q		347		24
Regions Financial q		1,691		16
SunTrust Banks q		322		13
Wachovia q		2,942		51
Webster Financial q		730		14
Wells Fargo q		934		28
XL Capital, Class A q		148		3
				779
Healthcare - 13.0%
Aetna		132		5
AmerisourceBergen		103		4
Amgen lq		924		58
Beckman Coulter		238		17
Biogen Idec lq		111		8
Boston Scientific lq		3,085		37
Bristol-Myers Squibb		770		16
Cardinal Health q		179		10
CIGNA		224		8
Coventry Health Care l		568		20
Covidien		485		24
DENTSPLY International		142		6
Edwards Lifesciences lq		32		2
Eli Lilly q		952		45
Endo Pharmaceuticals Holdings l		218		5
Forest Laboratories l		616		22
Gen-Probe l		281		15
Health Net l		447		12
Hill-Rom Holdings		378		11
HLTH lq		930		10
Humana l		222		10
Johnson & Johnson		2,427		166
Kinetic Concepts lq		286		10
King Pharmaceuticals l		1,828		21
Lincare Holdings lq		175		6
Merck		2,079		68
Omnicare q		191		6
Patterson Companies lq		323		10
Pediatrix Medical Group lq		36		2
PerkinElmer		951		28
Pfizer		9,881		184
Schering-Plough q		257		5
Sepracor lq		344		6
Thermo Fisher Scientific l		367		22
UnitedHealth Group		1,632		46
Varian Medical Systems lq		76		5
Watson Pharmaceuticals l		196		6
WellCare Health Plans l		223		9
WellPoint l		863		45
Wyeth q		1,412		57
Zimmer Holdings l		182		12
				1,059
Industrials - 10.6%
Allied Waste Industries l		1,474		18
Avery Dennison		85		4
BE Aerospace l		646		17
Brinks		118		8
Career Education lq		740		13
Carlisle Companies		489		15
Cintas		1,545		44
Cooper Industries, Class A		139		6
Copart lq		507		22
Crane q		311		11
Dover q		213		10
Eaton		39		3
Gardner Denver l		146		7
General Dynamics q		58		5
General Electric		11,120		315
Goodrich q		168		8
Hertz Global Holdings l		1,399		12
Hubbell, Class B q		144		6
Ingersoll-Rand, Class A q		603		22
ITT q		35		2
ITT Educational Services lq		21		2
Kennametal		291		9
Lennox International q		364		13
Manitowoc q		61		2
Manpower		410		20
Monster Worldwide l		314		5
Norfolk Southern q		210		15
Northrop Grumman		312		21
Parker Hannifin q		43		3
Republic Services		989		32
Robert Half International		427		11
Rockwell Automation q		198		9
Rockwell Collins		613		30
Shaw Group l		12		1
Spirit AeroSystems Holdings, Class A l		654		14
Teleflex q		254		16
Terex l		278		13
Thomas & Betts l		100		4
Timken q		506		17
United Rentals l		632		10
United Technologies		618		39
Waste Management		647		23
WESCO International l		80		3
				860
Information Technology - 4.3%
ADC Telecommunications lq		193		2
Amdocs lq		363		11
Arrow Electronics l		153		5
Atmel l		1,475		5
Autodesk lq		168		5
Avnet l		205		6
AVX		1,457		15
Brocade Communications Systems lq		404		3
Cadence Design Systems l		1,650		12
Computer Sciences l		163		8
Compuware l		2,151		24
Convergys l		1,059		13
Diebold		56		2
eBay lq		115		3
EchoStar, Class A lq		32		1
Electronic Data Systems		447		11
Fairchild Semiconductor International l		171		2
Ingram Micro, Class A lq		744		14
Jabil Circuit		585		9
Lexmark International, Class A lq		15		-
Molex		217		5
Motorola q		3,953		34
National Instruments q		391		13
NCR l		167		4
Novell l		1,267		7
Oracle l		276		6
SanDisk l		402		6
Sun Microsystems lq		1,595		17
Symantec l		941		20
Synopsys l		241		6
Tellabs l		2,347		12
Tyco Electronics q		492		16
Unisys l		1,881		7
Vishay Intertechnology l		2,967		27
Xerox q		1,082		15
				346
Materials - 6.1%
AK Steel Holding q		63		4
Albemarle		117		5
Alcoa		734		25
Allegheny Technologies q		134		6
Ashland		133		6
Bemis		188		5
Cabot Microelectronics		525		14
Carpenter Technology		298		12
Celanese, Class A q		5		-
Chemtura		2,016		13
Commercial Metals		516		15
Cytec Industries		227		12
Domtar l		5,567		32
Dow Chemical q		1,571		52
E.I. Du Pont de Nemours q		793		35
Eastman Chemical		29		2
Freeport-McMoRan Copper & Gold q		117		11
Huntsman		1,636		22
International Paper q		696		19
Intrepid Potash l		50		3
Lubrizol		286		14
MeadWestvaco		315		8
Mosaic l		24		3
Nalco Holding q		50		1
Nucor		351		20
Owens-Illinois l		84		4
Pactiv l		867		21
PPG Industries		304		18
Reliance Steel & Aluminum q		106		7
RPM International		435		9
Scotts Miracle- Gro, Class A q		544		11
Sealed Air q		386		8
Smurfit-Stone Container l		2,750		16
Sonoco Products		445		15
Southern Copper q		105		3
Steel Dynamics		230		7
Temple-Inland		226		4
Titanium Metals q		389		4
United States Steel		56		9
Valspar q		914		20
				495
Telecommunication Services - 6.0%
AT&T		7,704		237
CenturyTel		592		22
MetroPCS Communications l		268		4
NII Holdings lq		110		6
Qwest Communications International q		2,740		10
Sprint Nextel q		3,107		25
Telephone & Data Systems		366		16
U.S. Cellular l		831		50
Verizon Communications q		3,675		125
				495
Utilities - 10.4%
AGL Resources		2,075		72
Alliant Energy		1,178		38
Ameren q		173		7
American Electric Power		260		10
Aqua America q		583		9
Atmos Energy		1,922		51
CenterPoint Energy		1,137		18
Consolidated Edison		341		14
Dominion Resources q		425		19
DTE Energy q		271		11
Duke Energy q		1,195		21
Edison International		138		7
Energen		297		18
Energy East		1,973		49
FPL Group q		117		8
Great Plains Energy		135		3
Integrys Energy Group		559		29
NiSource		2,786		48
OGE Energy		1,269		41
ONEOK		156		7
Pepco Holdings		968		24
PG&E		956		37
Pinnacle West Capital		393		13
Public Service Enterprise Group		569		24
Puget Energy		933		26
SCANA		680		25
Sempra Energy q		471		26
Sierra Pacific Resources		1,310		15
Southern Union		1,306		34
Southern q		434		15
UGI		2,822		76
Vectren		778		23
Xcel Energy q		1,210		24
				842
Total Common Stocks
(Cost $8,587)				7,858
Right - 0.0%
Financials - 0.0%
Guaranty Financial Rights l§
(Cost $0)		576		-
Short-Term Investments - 2.5%
Money Market Fund - 1.1%
First American Prime Obligations Fund, Class Z ±		86,736		87
U.S. Treasury Obligation - 1.4%	PAR
U.S. Treasury Bill
1.778%, 12/18/2008 £	$	120		119
Total Short-Term Investments
(Cost $206)				206
Investment Purchased with Proceeds from Securities Lending - 35.2%	SHARES
Mount Vernon Securities Lending Prime Portfolio †
(Cost $2,860)		2,859,923		2,860
Total Investments u - 134.4%
(Cost $11,653)				10,924
Other Assets and Liabilities, Net - (34.4)%				(2,793	)
Total Net Assets - 100.0%			$	8,131

+	Security valuations for the fund's investments are furnished by an independent pricing service that has been approved by the fund's board of directors. Securities for which prices are not available from an independent pricing service, but where an active market exists, are valued using market quotations obtained from one or more dealers that make markets in the securities or from a widely-used quotation system. When market quotations are not readily available, securities are valued at fair value as determined in good faith by procedures established and approved by the fund's board of directors. Debt obligations with 60 days or less remaining until maturity may be valued at their amortized cost, which approximates market value. As of July 31, 2008, the fund held fair valued securities disclosed in footnote §.
l	Non-income producing security.
q	This security or a portion of this security is out on loan at July 31, 2008. Total loaned securities had a value of $2,736 at July 31, 2008.
§	Security is fair valued and illiquid.  As of July 31, 2008, the value of this investment was $0 or 0.0% of total net assets.
				Date
	Security	Shares		Acquired		Cost Basis
	Guaranty Financial Rights	576		06/2008		—
±	Investment in affiliated security. This money market fund is advised by FAF Advisors, Inc., which also serves as advisor to this fund.
£	Security has been deposited as initial margin on open futures contracts. Yield shown is effective yield as of July 31, 2008.
†	In order to generate additional income, the fund may loan securities representing up to one third of the value of its total assets (which includes collateral for securities on loan) to broker-dealers, banks, or other institutional borrowers of securities. The fund maintains collateral equal to at least 100% of the value of the securities loaned. The adequacy of the collateral is monitored on a daily basis. The cash collateral received by the fund is invested in this affiliated money market fund.
u	On July 31, 2008, the cost of investments for federal income tax purposes was approximately $11,653.  The approximate aggregate gross unrealized appreciation and depreciation of investments, based on this cost, were as follows:
	Gross unrealized appreciation		$236
	Gross unrealized depreciation		(965	)
	Net unrealized depreciation		$(729	)
	Schedule of Open Futures Contracts
		Number of	Notional
		Contracts	Contract	Settlement	Unrealized
	Description	Purchased	Value	Month	Depreciation
	S&P 500 E-Mini Futures	1	$                 63	September 2008	$                 (1	)

Item 2—Controls and Procedures

(a) The registrant’s Principal Executive Officer and Principal Financial Officer have evaluated the registrant’s disclosure controls and procedures within 90 days of the date of this filing and have concluded that the registrant’s disclosure controls and procedures were effective, as of that date, in ensuring that information required to be disclosed by the registrant in this Form N-Q was recorded, processed, summarized and reported timely.

(b) There were no changes in the registrant’s internal control over financial reporting that occurred during the last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the registrant’s internal control over financial reporting.

Item 3—Exhibits

Certifications of the Principal Executive Officer and Principal Financial Officer of the registrant as required by Rule 30a-2(a) under the Investment Company Act are filed as exhibits hereto.

Signatures

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

First American Investment Funds, Inc.

By:

/s/Thomas S. Schreier, Jr.  

Thomas S. Schreier, Jr.

President

Date: September 26, 2008

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/Thomas S. Schreier, Jr.  

Thomas S. Schreier, Jr.

President

Date:  September 26, 2008

By:

/s/Charles D. Gariboldi, Jr.  

Charles D. Gariboldi, Jr.

Treasurer

Date:  September 26, 2008