Wilmington Funds

Form N-Q is to be used by management investment companies, other than small business investment companies registered on Form N-5 (§§ 239.24 and 274.5 of this chapter), to file reports with the Commission, not later than 60 days after the close of the first and third fiscal quarters, pursuant to rule 30b1-5 under the Investment Company Act of 1940 (17 CFR 270.30b1-5). The Commission may use the information provided on Form N-Q in its regulatory, disclosure review, inspection, and policymaking roles.

A registrant is required to disclose the information specified by Form N-Q, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-Q unless the Form displays a currently valid Office of Management and Budget (“OMB”) control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to the Secretary, Securities and Exchange Commission, 100 F Street, NE, Washington, DC 20549. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.


Description	Number of Shares		Value
COMMON STOCKS – 98.4%
CONSUMER DISCRETIONARY – 12.4%
AUTO COMPONENTS – 0.3%
BorgWarner, Inc.		6,180	$	181,445
Delphi Automotive PLC		8,900		577,966
Gentex Corp.		9,180		125,674
Goodyear Tire & Rubber Co. (The)		9,500		269,895
Johnson Controls, Inc.		18,930		679,019
Lear Corp.		2,500		259,575
Visteon Corp.		1,500		100,320

			$	2,193,894
AUTOMOBILES – 0.5%
Ford Motor Co.		112,100		1,338,474
General Motors Co.		47,100		1,396,044
Harley-Davidson, Inc.		4,070		162,800
Tesla Motors, Inc.^#,*		3,200		611,840
Thor Industries, Inc.		1,380		72,353

			$	3,581,511
DISTRIBUTORS – 0.1%
Genuine Parts Co.		4,620		398,105
LKQ Corp.*		10,080		276,192

			$	674,297
DIVERSIFIED CONSUMER SERVICES – 0.1%
Graham Holdings Co., Class B		140		67,857
H&R Block, Inc.		6,660		226,773
Service Corp. International		4,170		100,872
ServiceMaster Global Holdings, Inc.*		2,280		96,239

			$	491,741
HOTELS, RESTAURANTS & LEISURE – 2.1%
Aramark		5,800		185,310
Brinker International, Inc.		520		25,865
Carnival Corp.		12,520		602,588
Chipotle Mexican Grill, Inc.*		850		385,024
Choice Hotels International, Inc.		3,060		133,783
Darden Restaurants, Inc.		4,340		273,680
Domino’s Pizza, Inc.		2,200		250,646
Dunkin’ Brands Group, Inc.^#		3,900		153,504
Extended Stay America, Inc.		4,900		62,769
Hilton Worldwide Holdings, Inc.		15,860		282,467
Hyatt Hotels Corp., Class A^#,*		2,800		108,304


Description	Number of Shares		Value
International Game Technology^#		1,273	$	18,420
Las Vegas Sands Corp.		11,320		510,532
Marriott International, Inc., Class A^#		7,772		476,268
McDonald’s Corp.		31,699		3,923,702
MGM Resorts International*		15,710		315,457
Norwegian Cruise Line Holdings*		3,460		156,980
Panera Bread Co., Class A*		845		163,930
Restaurant Brands International LP		47		1,570
Royal Caribbean Cruises Ltd.		5,380		440,945
Six Flags Entertainment Corp.		3,100		155,837
Starbucks Corp.		47,040		2,858,621
Starwood Hotels & Resorts Worldwide, Inc.		4,930		306,843
Wendy’s Co. (The)		18,700		191,301
Wyndham Worldwide Corp.		3,360		218,064
Wynn Resorts Ltd.^#		2,200		148,148
Yum! Brands, Inc.		12,950		937,192

			$	13,287,750
HOUSEHOLD DURABLES – 0.5%
DR Horton, Inc.		11,370		312,789
Garmin Ltd.^#		1,690		59,454
Harman International Industries, Inc.		1,920		142,829
Jarden Corp.*		6,910		366,576
Leggett & Platt, Inc.		3,670		152,342
Lennar Corp., Class A		6,110		257,537
Mohawk Industries, Inc.*		1,900		316,179
Newell Rubbermaid, Inc.^#		7,820		303,260
NVR, Inc.*		130		214,630
PulteGroup, Inc.		13,840		231,958
Tempur Sealy International, Inc.*		2,500		150,850
Toll Brothers, Inc.*		6,050		167,101
Tupperware Brands Corp.		1,000		46,430
Whirlpool Corp.		2,350		315,817

			$	3,037,752
INTERNET & CATALOG RETAIL – 1.7%
Amazon.com, Inc.*		11,910		6,991,170
Expedia, Inc.		2,852		288,166
Liberty Interactive Corp., Class A*		11,650		303,599
Liberty Ventures, Series A*		7,902		310,786
Netflix, Inc.*		12,700		1,166,368


Description	Number of Shares		Value
Priceline.com, Inc. (The)*		1,630	$	1,735,901
TripAdvisor, Inc.*		3,600		240,336

			$	11,036,326
LEISURE EQUIPMENT & PRODUCTS – 0.2%
Brunswick Corp.		4,240		168,964
Hasbro, Inc.		3,490		259,237
Mattel, Inc.^#		15,550		429,025
Polaris Industries, Inc.		1,900		140,296
Vista Outdoor, Inc.*		1,040		50,138

			$	1,047,660
MEDIA – 3.0%
AMC Networks, Inc., Class A*		1,685		122,651
Cable One, Inc.		140		60,199
Cablevision Systems Corp., Class A		6,540		208,691
CBS Corp., Non-Voting		15,130		718,675
Charter Communications, Inc., Class A*		2,500		428,400
Cinemark Holdings, Inc.		4,500		132,705
Comcast Corp., Class A		76,100		4,239,531
Discovery Communications, Inc., Class A^#,*		9,480		259,767
DISH Network Corp., Class A*		5,980		288,655
Gannett Co., Inc.		1,645		24,412
Interpublic Group of Cos., Inc. (The)		12,820		287,681
John Wiley & Sons, Inc., Class A		2,100		87,780
King Digital Entertainment PLC		6,000		107,580
Liberty Broadband Corp., Class A*		706		33,323
Liberty Media Corp., Class A*		10,429		372,037
Lions Gate Entertainment Corp.^#		2,060		53,869
Live Nation Entertainment, Inc.*		1,620		36,774
Madison Square Garden Co., Class A (The)*		729		112,324
Morningstar, Inc.		1,100		88,451
MSG Networks, Inc., Class A*		2,187		38,251
News Corp., Class A		19,757		259,516
Omnicom Group, Inc.		7,090		520,052
Regal Entertainment Group, Class A^#		770		13,283
Scripps Networks Interactive, Inc., Class A		1,380		84,139
Sirius XM Holdings, Inc.*		63,640		235,468
Starz, Class A*		3,243		92,198
Tegna, Inc.		3,190		76,592
Thomson Reuters Corp.		14,500		542,300
Time Warner Cable, Inc.		9,024		1,642,458
Time Warner, Inc.		26,316		1,853,699
Twenty-First Century Fox, Inc., Class A		44,610		1,203,558
Viacom, Inc., Class A		11,800		544,932
Walt Disney Co. (The)		51,346		4,919,974

			$	19,689,925
MULTILINE RETAIL – 0.6%
Dillard’s, Inc., Class A		1,400		98,574


Description	Number of Shares		Value
Dollar General Corp.		9,100	$	683,046
Dollar Tree, Inc.*		6,962		566,150
JC Penney Co., Inc.^#,*		11,030		80,078
Kohl’s Corp.		3,810		189,548
Macy’s, Inc.		11,880		480,071
Nordstrom, Inc.^#		3,780		185,598
Sears Holdings Corp.^#,*		70		1,187
Target Corp.		22,260		1,612,069

			$	3,896,321
SPECIALTY RETAIL – 2.4%
Aaron’s, Inc.		1,300		29,744
Advance Auto Parts, Inc.		2,550		387,727
AutoNation, Inc.*		3,080		133,210
AutoZone, Inc.*		960		736,694
Bed, Bath & Beyond, Inc.*		4,410		190,380
Best Buy Co., Inc.		8,980		250,811
Cabela’s, Inc.*		900		37,863
CarMax, Inc.^#,*		6,500		287,170
CST Brands, Inc.		1,718		66,555
Dick’s Sporting Goods, Inc.		780		30,482
DSW, Inc., Class A		1,900		45,619
Foot Locker, Inc.		3,110		210,112
GameStop Corp., Class A^#		2,820		73,912
Gap, Inc. (The)^#		5,400		133,488
GNC Holdings, Inc., Class A		3,800		106,438
Home Depot, Inc. (The)		40,800		5,131,008
L Brands, Inc.		7,510		722,087
Lowe’s Cos., Inc.		30,300		2,171,298
Michaels Cos, Inc. (The)*		1,700		37,060
Murphy USA, Inc.*		1,387		80,238
Office Depot, Inc.*		12,960		66,744
O’Reilly Automotive, Inc.*		3,100		808,790
Penske Automotive Group, Inc.		600		18,822
Ross Stores, Inc.		12,140		682,996
Sally Beauty Holdings, Inc.*		2,500		68,900
Signet Jewelers Ltd.		2,520		292,320
Staples, Inc.		15,410		137,457
Tiffany & Co.		3,550		226,632
TJX Cos., Inc. (The)		21,040		1,498,890
Tractor Supply Co.		3,700		326,747
Ulta Salon Cosmetics & Fragrance, Inc.*		2,000		362,340
Urban Outfitters, Inc.*		6,360		145,517
Williams-Sonoma, Inc.		3,240		167,378

			$	15,665,429
TEXTILES, APPAREL & LUXURY GOODS – 0.9%
Carter’s, Inc.		1,400		136,108


Description	Number of Shares		Value
Coach, Inc.		8,010	$	296,770
Fossil Group, Inc.^#,*		2,200		71,720
Hanesbrands, Inc.		15,100		461,607
Kate Spade & Co.*		900		16,029
Lululemon Athletica, Inc.^#,*		2,700		167,589
Michael Kors Holdings Ltd.*		5,800		231,420
NIKE, Inc., Class B		43,540		2,699,915
PVH Corp.		2,480		181,982
Ralph Lauren Corp.		2,600		292,500
Skechers U.S.A., Inc., Class A*		3,300		93,027
Under Armour, Inc., Class A^#,*		5,900		504,037
VF Corp.		12,000		751,200

			$	5,903,904

TOTAL CONSUMER DISCRETIONARY			$	80,506,510
ENERGY – 6.5%
ENERGY EQUIPMENT & SERVICES – 1.1%
Baker Hughes, Inc.		16,100		700,511
Cameron International Corp.*		7,660		502,956
Diamond Offshore Drilling, Inc.^#		3,300		61,347
Dril-Quip, Inc.*		660		38,702
Ensco PLC, Class A		1,700		16,626
FMC Technologies, Inc.*		7,860		197,679
Frank’s International NV		6,400		93,632
Halliburton Co.		27,890		886,623
Helmerich & Payne, Inc.^#		3,560		180,848
Nabors Industries Ltd.		18,030		132,701
National Oilwell Varco, Inc.		10,255		333,698
Noble Corp. PLC^#		8,300		64,657
Oceaneering International, Inc.		5,780		195,653
Patterson-UTI Energy, Inc.^#		6,900		99,222
Rowan Cos. PLC, Class A		340		4,301
RPC, Inc.^#		3,450		43,022
Schlumberger Ltd.		44,044		3,183,060
Seadrill Ltd.^#,*		10,000		20,700
Superior Energy Services, Inc.		11,100		114,441
Targa Resources Corp.		2,200		49,434
Weatherford International PLC*		14,800		99,752

			$	7,019,565
OIL & GAS FIELD SERVICES – 0.0%**
Columbia Pipeline Group, Inc.		9,100		168,805
OIL, GAS & CONSUMABLE FUELS – 5.4%
Anadarko Petroleum Corp.		17,450		682,120
Antero Resources Corp.^#,*		4,400		119,548
Apache Corp.		12,140		516,436
Cabot Oil & Gas Corp.		15,600		323,700
California Resources Corp.		11,180		15,987


Description	Number of Shares		Value
Cheniere Energy, Inc.*		9,480	$	284,874
Chesapeake Energy Corp.^#		25,000		84,750
Chevron Corp.		63,820		5,518,515
Cimarex Energy Co.		3,650		339,450
Cobalt International Energy, Inc.*		17,900		67,841
Concho Resources, Inc.*		4,660		443,306
ConocoPhillips		44,460		1,737,497
CONSOL Energy, Inc.^#		10,300		81,782
Continental Resources, Inc.^#,*		3,820		80,640
CVR Energy, Inc.^#		100		3,502
Denbury Resources, Inc.^#		25,900		40,404
Devon Energy Corp.		12,880		359,352
Diamondback Energy, Inc.*		2,200		166,210
Energen Corp.		1,530		53,963
EOG Resources, Inc.		19,880		1,411,878
EP Energy Corp., Class A*		500		1,870
EQT Corp.		4,830		298,204
Exxon Mobil Corp.		145,243		11,307,168
Golar LNG Ltd.^#		4,300		80,066
Gulfport Energy Corp.*		5,000		147,750
Hess Corp.		8,190		348,075
HollyFrontier Corp.		4,140		144,776
Kinder Morgan, Inc.		65,205		1,072,622
Kosmos Energy Ltd.*		39,800		181,886
Marathon Oil Corp.		23,230		226,028
Marathon Petroleum Corp.		15,730		657,357
Murphy Oil Corp.^#		3,100		60,791
Newfield Exploration Co.*		4,310		125,292
Noble Energy, Inc.		14,320		463,538
Occidental Petroleum Corp.		26,600		1,830,878
ONEOK, Inc.		8,960		223,194
PBF Energy, Inc., Class A		3,000		104,970
Phillips 66		16,590		1,329,689
Pioneer Natural Resources Co.		5,300		656,935
QEP Resources, Inc.		5,800		74,356
Range Resources Corp.^#		6,830		201,895
Rice Energy, Inc.*		800		9,336
SM Energy Co.^#		5,450		76,191
Southwestern Energy Co.^#,*		13,800		122,682
Spectra Energy Corp.		13,100		359,595
Teekay Corp.^#		520		3,562
Tesoro Corp.		4,240		369,940
Valero Energy Corp.		15,570		1,056,736
Williams Cos., Inc. (The)		27,970		539,821


Description	Number of Shares		Value
World Fuel Services Corp.		2,100	$	81,795
WPX Energy, Inc.*		3,817		20,688

			$	34,509,441

TOTAL ENERGY			$	41,697,811
FINANCIALS – 20.5%
CAPITAL MARKETS – 2.4%
Affiliated Managers Group, Inc.*		2,270		304,611
Ameriprise Financial, Inc.		7,440		674,436
Artisan Partners Asset Management, Inc., Class A		4,100		128,330
Bank of New York Mellon Corp. (The)		48,370		1,751,961
BlackRock, Inc.		5,360		1,684,434
Charles Schwab Corp. (The)		47,750		1,219,058
ETRADE Financial Corp.		12,100		285,076
Eaton Vance Corp.^#		4,970		142,440
Federated Investors, Inc., Class B		4,970		125,691
Franklin Resources, Inc.		18,020		624,573
Goldman Sachs Group, Inc. (The)		18,290		2,954,932
Interactive Brokers Group, Inc., Class A		1,700		54,859
Invesco Ltd.		18,570		555,800
Lazard Ltd., Class A		3,650		131,364
Legg Mason, Inc.		3,710		113,600
LPL Financial Holdings, Inc.^#		3,600		109,512
Morgan Stanley		65,396		1,692,448
Northern Trust Corp.		8,980		557,478
NorthStar Asset Management Group, Inc.		5,800		66,932
Raymond James Financial, Inc.		4,510		197,583
SEI Investments Co.		5,740		225,238
State Street Corp.		18,120		1,009,828
T. Rowe Price Group, Inc.		11,080		786,126
TD Ameritrade Holding Corp.		10,550		290,969
Waddell & Reed Financial, Inc., Class A		2,740		75,186

			$	15,762,465
COMMERCIAL BANKS – 6.6%
Associated Banc-Corp.		11,985		210,337
Bank of America Corp.		443,250		6,267,555
Bank of Hawaii Corp.		2,470		148,027
BankUnited, Inc.		2,700		90,990
BB&T Corp.		36,090		1,178,699
BOK Financial Corp.^#		2,020		101,020
CIT Group, Inc.		5,800		170,230
Citigroup, Inc.		125,982		5,364,314
Citizens Financial Group, Inc.		11,600		246,500
Comerica, Inc.		8,630		296,009
Commerce Bancshares, Inc.		5,342		219,716
Cullen/Frost Bankers, Inc.^#		1,440		68,918
East West Bancorp, Inc.		6,200		201,004


Description	Number of Shares		Value
Fifth Third Bancorp		41,100	$	649,380
First Horizon National Corp.		6,384		81,268
First Niagara Financial Group, Inc.		14,150		138,528
First Republic Bank		5,000		340,000
Huntington Bancshares, Inc.		29,141		250,030
JPMorgan Chase & Co.		156,120		9,289,140
KeyCorp		35,770		399,193
M&T Bank Corp.^§		1,610		177,390
PacWest Bancorp.		5,039		184,982
PNC Financial Services Group, Inc. (The)		21,060		1,824,849
Popular, Inc.		3,900		98,046
Regions Financial Corp.		56,556		459,235
Signature Bank*		2,100		292,614
SunTrust Banks, Inc.		23,880		873,530
SVB Financial Group*		1,800		182,376
Synovus Financial Corp.		5,594		170,785
TCF Financial Corp.		8,210		98,602
U.S. Bancorp		68,920		2,760,935
Wells Fargo & Co.		193,625		9,725,784
Zions Bancorporation		7,890		178,945

			$	42,738,931
CONSUMER FINANCE – 0.9%
Ally Financial, Inc.*		22,400		355,040
American Express Co.		37,740		2,019,090
Capital One Financial Corp.		22,200		1,456,764
Credit Acceptance Corp.*		800		143,168
Discover Financial Services		17,680		809,567
Lendingclub Corp.*		3,020		22,288
Navient Corp.		12,160		116,250
Santander Consumer USA Holdings, Inc.*		3,700		38,665
SLM Corp.*		6,360		40,704
Synchrony Financial*		33,000		937,860

			$	5,939,396
DIVERSIFIED FINANCIAL SERVICES – 2.4%
Berkshire Hathaway, Inc., Class B*		77,446		10,050,167
CBOE Holdings, Inc.		3,000		199,860
CME Group, Inc.		13,100		1,177,035
Intercontinental Exchange, Inc.		4,518		1,191,848
Leucadia National Corp.		15,010		248,566
McGraw Hill Financial, Inc.		11,140		947,123
Moody’s Corp.		8,140		725,600
MSCI, Inc.		5,120		352,461
Nasdaq, Inc.		4,530		280,860
OneMain Holdings, Inc.*		1,900		50,217
Voya Financial, Inc.		1,800		55,044

			$	15,278,781


Description	Number of Shares		Value
INSURANCE – 3.6%
Aflac, Inc.		16,250	$	941,850
Alleghany Corp.*		556		265,724
Allied World Assurance Co. Holdings AG		5,490		200,879
Allstate Corp. (The)		18,380		1,113,828
American Financial Group, Inc.		1,600		113,568
American International Group, Inc.		51,130		2,887,822
American National Insurance Co.		600		58,308
Amtrust Financial Services, Inc.^#		2,700		154,413
Aon PLC		10,100		887,083
Arch Capital Group Ltd.*		8,440		570,122
Arthur J Gallagher & Co.		6,580		247,671
Aspen Insurance Holdings Ltd.		190		8,837
Assurant, Inc.		3,230		262,631
Assured Guaranty Ltd.		6,200		147,436
Axis Capital Holdings Ltd.		3,280		176,825
Brown & Brown, Inc.		5,570		168,492
Chubb Ltd.		18,647		2,108,416
Cincinnati Financial Corp.		7,406		426,808
CNA Financial Corp.		1,050		34,891
Endurance Specialty Holdings Ltd.		2,000		123,860
Erie Indemnity Co., Class A		670		64,394
Everest Re Group Ltd.		1,170		209,360
FNF Group		8,941		289,510
Genworth Financial, Inc., Class A*		21,500		59,770
Hanover Insurance Group, Inc. (The)		1,100		89,639
Hartford Financial Services Group, Inc. (The)		16,490		662,568
Lincoln National Corp.		7,670		302,658
Loews Corp.		15,450		571,805
Markel Corp.*		580		487,467
Marsh & McLennan Cos., Inc.		19,340		1,031,402
Mercury General Corp.		2,370		110,039
MetLife, Inc.		40,901		1,826,230
Old Republic International Corp.		13,500		244,080
PartnerRe Ltd.		1,770		248,508
Principal Financial Group, Inc.		10,290		391,020
ProAssurance Corp.		3,000		150,360
Progressive Corp. (The)		21,780		680,625
Prudential Financial, Inc.		18,530		1,298,582
Reinsurance Group of America, Inc.		1,690		142,349
RenaissanceRe Holdings Ltd.		1,120		126,168
StanCorp Financial Group, Inc.		1,940		222,440
Torchmark Corp.		4,195		227,956
Travelers Cos., Inc. (The)		12,880		1,378,675
Unum Group		7,810		223,678
Validus Holdings Ltd.		170		7,521


Description	Number of Shares		Value
White Mountains Insurance Group Ltd.		160	$	114,094
Willis Towers Watson PLC		2,000		228,940
WR Berkley Corp.		3,580		179,537
XL Group PLC		14,220		515,617

			$	22,984,456
REAL ESTATE INVESTMENT TRUSTS – 4.4%
Alexandria Real Estate Equities, Inc.		1,640		129,855
American Campus Communities, Inc.		4,700		198,340
American Capital Agency Corp.		15,980		272,779
American Homes 4 Rent, Class A		5,700		85,443
American Tower Corp.		17,160		1,618,874
Annaly Capital Management, Inc.		37,280		354,160
Apartment Investment & Management Co., Class A		3,970		155,425
Apple Hospitality REIT, Inc.^#		9,800		179,242
AvalonBay Communities, Inc.		5,122		878,372
Boston Properties, Inc.		7,150		830,901
Brandywine Realty Trust		11,730		150,496
Brixmor Property Group, Inc.		3,700		98,494
Camden Property Trust		2,670		203,721
Care Capital Properties, Inc.		2,846		85,209
CBL & Associates Properties, Inc.		5,600		60,200
Chimera Investment Corp.		11,740		145,459
Columbia Property Trust, Inc.		3,700		82,399
Communications Sales & Leasing, Inc.		1,800		34,578
Corporate Office Properties Trust		7,400		165,020
Corrections Corp. of America		5,967		171,909
Crown Castle International Corp.		16,140		1,391,268
DDR Corp.		9,900		169,389
Digital Realty Trust, Inc.		8,560		685,485
Douglas Emmett, Inc.		4,410		130,448
Duke Realty Corp.		12,010		241,761
Empire State Realty Trust, Inc., Class A		1,600		26,480
Equinix, Inc.		2,581		801,581
Equity Commonwealth*		7,242		194,737
Equity Lifestyle Properties, Inc.		3,400		224,128
Equity Residential		14,350		1,106,241
Essex Property Trust, Inc.		2,073		441,777
Extra Space Storage, Inc.		4,400		399,036
Federal Realty Investment Trust		1,970		297,135
Forest City Realty Trust, Inc., Class A*		11,900		234,430
Gaming and Leisure Properties, Inc.		2,904		75,736
General Growth Properties, Inc.		22,943		643,322
HCP, Inc.		17,930		644,404
Healthcare Trust of America, Inc., Class A		1,600		44,864
Hospitality Properties Trust		4,050		95,539
Host Hotels & Resorts, Inc.		31,340		434,059
Iron Mountain, Inc.		9,553		263,090


Description	Number of Shares		Value
Kilroy Realty Corp.		2,000	$	111,740
Kimco Realty Corp.		15,180		412,744
Lamar Advertising Co., Class A		2,400		134,664
Liberty Property Trust		4,040		118,453
Macerich Co. (The)		6,410		499,788
MFA Financial, Inc.		21,800		138,430
Mid-America Apartment Communities, Inc.		3,200		300,224
National Retail Properties, Inc.^#		2,500		107,350
NorthStar Realty Europe Corp.		1,433		13,528
Omega Healthcare Investors, Inc.		8,200		260,022
Outfront Media, Inc.		3,800		82,650
Paramount Group, Inc.		2,100		34,440
Piedmont Office Realty Trust, Inc., Class A		8,300		153,633
Plum Creek Timber Co., Inc.		6,770		274,253
Post Properties, Inc.		4,200		240,618
Prologis, Inc.		19,690		777,164
Public Storage		6,260		1,587,286
Rayonier, Inc.		8,615		181,690
Realty Income Corp.^#		11,510		642,143
Regency Centers Corp.		2,060		149,123
Retail Properties of America, Inc., Class A		14,200		220,242
Senior Housing Properties Trust		21,700		314,216
Simon Property Group, Inc.		13,093		2,438,964
SL Green Realty Corp.		3,290		317,847
Spirit Realty Capital, Inc.		13,000		136,240
Starwood Property Trust, Inc.		10,320		196,493
Tanger Factory Outlet Centers, Inc.		3,100		99,169
Taubman Centers, Inc.		3,330		236,563
Two Harbors Investment Corp.		18,500		140,600
UDR, Inc.		8,580		305,362
Ventas, Inc.		14,586		806,898
VEREIT, Inc.		34,500		265,995
Vornado Realty Trust		7,873		696,446
Weingarten Realty Investors		3,560		124,208
Welltower, Inc.		14,620		909,656
Weyerhaeuser Co.		22,810		584,164
WP Carey, Inc.		3,400		198,050
WP GLIMCHER, Inc.		2,976		27,022

			$	28,683,864
REAL ESTATE MANAGEMENT & DEVELOPMENT – 0.1%
CBRE Group, Inc., Class A*		11,310		316,341
Four Corners Property Trust, Inc.		1,446		24,437
Howard Hughes Corp. (The)*		1,458		138,554
Jones Lang LaSalle, Inc.		1,550		218,116
Realogy Holdings Corp.*		5,400		177,120

			$	874,568


Description	Number of Shares		Value
THRIFTS & MORTGAGE FINANCE – 0.1%
New York Community Bancorp, Inc.^#		25,140	$	389,167
People’s United Financial, Inc.^#		16,800		241,416
TFS Financial Corp.		750		13,088

			$	643,671

TOTAL FINANCIALS			$	132,906,132
HEALTH CARE – 22.4%
BIOTECHNOLOGY – 4.4%
Agios Pharmaceuticals, Inc.^#,*		1,700		71,774
Alexion Pharmaceuticals, Inc.*		11,190		1,632,957
Alkermes PLC*		7,100		227,271
Alnylam Pharmaceuticals, Inc.*		3,500		241,290
Amgen, Inc.		39,964		6,103,702
Baxalta, Inc.		27,400		1,096,274
Biogen, Inc.*		11,600		3,167,496
BioMarin Pharmaceutical, Inc.*^,††		8,900		658,778
Bluebird Bio, Inc.^#,*		1,600		66,176
Celgene Corp.*		41,366		4,149,837
Gilead Sciences, Inc.		76,944		6,386,352
Incyte Corp.*		7,460		526,378
Intercept Pharmaceuticals, Inc.^#,*		800		84,984
Intrexon Corp.^#,*		1,860		54,200
Ionis Pharmaceuticals, Inc.^#,*		6,000		233,580
Juno Therapeutics, Inc.*		2,700		74,466
Medivation, Inc.*		8,100		264,870
Opko Health, Inc.^#,*		18,400		147,936
Puma Biotechnology, Inc.^#,*		1,220		50,923
Regeneron Pharmaceuticals, Inc.*		4,100		1,722,369
Seattle Genetics, Inc.^#,*		6,700		220,966
United Therapeutics Corp.*		2,440		300,559
Vertex Pharmaceuticals, Inc.*		12,543		1,138,277

			$	28,621,415
HEALTH CARE EQUIPMENT & SUPPLIES – 3.5%
Abbott Laboratories		80,609		3,051,051
Alere, Inc.*		5,450		202,740
Align Technology, Inc.*		4,160		275,142
Baxter International, Inc.		27,830		1,018,578
Becton Dickinson & Co.		11,680		1,697,922
Boston Scientific Corp.*		72,400		1,269,172
Cooper Cos., Inc. (The)		1,850		242,627
CR Bard, Inc.		4,480		821,050
DENTSPLY International, Inc.		8,970		528,243
DexCom, Inc.*		3,740		266,587
Edwards Lifesciences Corp.*		11,572		905,046
Hill-Rom Holdings, Inc.		2,260		110,469
Hologic, Inc.*		12,340		418,820


Description	Number of Shares		Value
IDEXX Laboratories, Inc.*		3,880	$	272,143
Intuitive Surgical, Inc.*		2,000		1,081,700
Medtronic PLC		74,126		5,627,646
ResMed, Inc.		8,120		460,404
Sirona Dental Systems, Inc.*		3,100		329,499
St. Jude Medical, Inc.		15,070		796,600
Stryker Corp.		18,900		1,873,935
Teleflex, Inc.^#		2,060		279,521
Varian Medical Systems, Inc.*		6,350		489,776
Zimmer Biomet Holdings, Inc.		9,110		904,259

			$	22,922,930
HEALTH CARE PROVIDERS & SERVICES – 4.1%
Acadia Healthcare Co., Inc.*		2,120		129,384
Aetna, Inc.		18,331		1,866,829
AmerisourceBergen Corp.		9,870		883,957
Anthem, Inc.		14,710		1,919,508
Brookdale Senior Living, Inc.*		3,970		64,632
Cardinal Health, Inc.		17,820		1,450,013
Centene Corp.*		6,600		409,596
Cigna Corp.		13,930		1,861,048
Community Health Systems, Inc.*		6,246		134,164
DaVita HealthCare Partners, Inc.*		9,788		656,971
Envision Healthcare Holdings, Inc.*		8,300		183,430
Express Scripts Holding Co.*		35,362		2,541,467
HCA Holdings, Inc.*		16,700		1,161,986
Health Net, Inc.*		3,520		233,094
Henry Schein, Inc.*		4,460		675,422
Humana, Inc.		7,930		1,290,925
Laboratory Corp. of America Holdings*		5,057		568,154
LifePoint Hospitals, Inc.*		3,330		232,401
McKesson Corp.		12,300		1,980,054
MEDNAX, Inc.*		6,440		447,322
Patterson Cos., Inc.		7,370		312,930
Premier, Inc., Class A*		3,200		102,208
Quest Diagnostics, Inc.		7,750		508,943
Tenet Healthcare Corp.*		2,425		65,766
UnitedHealth Group, Inc.		50,520		5,817,883
Universal Health Services, Inc., Class B		4,980		560,947
VCA, Inc.*		4,270		218,923

			$	26,277,957
HEALTH CARE TECHNOLOGY – 0.3%
Allscripts Healthcare Solutions, Inc.*		8,100		111,618
athenahealth, Inc.^#,*		2,300		326,140
Cerner Corp.*		16,540		959,485
IMS Health Holdings, Inc.*		4,800		110,976
Inovalon Holdings, Inc., Class A^#,*		1,300		21,944


Description	Number of Shares		Value
Veeva Systems, Inc., Class A^#,*		4,720	$	113,752

			$	1,643,915
LIFE SCIENCES TOOLS & SERVICES – 1.1%
Agilent Technologies, Inc.		14,690		553,078
Bio-Rad Laboratories, Inc., Class A*		890		113,573
Bio-Techne Corp.		1,400		115,766
Bruker Corp.*		7,400		165,242
Charles River Laboratories International, Inc.*		3,420		253,867
Illumina, Inc.*		7,540		1,190,943
Mettler-Toledo International, Inc.*		1,520		475,532
PerkinElmer, Inc.		7,070		341,622
QIAGEN N.V.*		14,720		334,291
Quintiles Transnational Holdings, Inc.*		5,780		351,597
Thermo Fisher Scientific, Inc.		20,220		2,670,253
VWR Corp.*		6,200		151,652
Waters Corp.*		5,010		607,262

			$	7,324,678
PHARMACEUTICALS – 9.0%
AbbVie, Inc.		86,578		4,753,132
Akorn, Inc.*		3,960		102,920
Allergan PLC*		20,185		5,741,220
Bristol-Myers Squibb Co.		88,260		5,486,242
Eli Lilly & Co.		51,730		4,091,843
Endo International PLC*		12,270		680,617
Jazz Pharmaceuticals PLC^#,*		3,300		424,842
Johnson & Johnson		148,400		15,498,896
Mallinckrodt PLC*		6,410		372,357
Merck & Co., Inc.		147,866		7,492,370
Mylan NV*		22,130		1,166,030
Perrigo Co. PLC		7,540		1,090,133
Pfizer, Inc.		324,603		9,897,145
Zoetis, Inc.		26,681		1,148,617

			$	57,946,364

TOTAL HEALTH CARE			$	144,737,259
INDUSTRIALS – 8.9%
AEROSPACE & DEFENSE – 2.3%
B/E Aerospace, Inc.		3,800		153,710
Boeing Co. (The)		20,390		2,449,451
BWX Technologies, Inc.		2,940		88,024
General Dynamics Corp.		8,030		1,074,173
Hexcel Corp.		3,600		148,968
Honeywell International, Inc.		23,470		2,422,104
Huntington Ingalls Industries, Inc.		1,645		210,363
L-3 Communications Holdings, Inc.		2,010		234,848
Lockheed Martin Corp.		7,950		1,677,450


Description	Number of Shares		Value
Northrop Grumman Corp.		5,770	$	1,067,796
Orbital ATK, Inc.		2,120		191,288
Precision Castparts Corp.		4,090		960,946
Raytheon Co.		8,620		1,105,429
Rockwell Collins, Inc.		3,570		288,742
Spirit Aerosystems Holdings, Inc., Class A*		4,540		192,496
Textron, Inc.		7,270		248,779
TransDigm Group, Inc.*		1,490		334,848
United Technologies Corp.		26,900		2,358,861

			$	15,208,276
AIR FREIGHT & LOGISTICS – 0.6%
C.H. Robinson Worldwide, Inc.		4,084		264,521
Expeditors International of Washington, Inc.		7,280		328,474
FedEx Corp.		7,960		1,057,725
United Parcel Service, Inc. Class B		20,530		1,913,396

			$	3,564,116
AIRLINES – 0.6%
Alaska Air Group, Inc.		4,400		309,760
American Airlines Group, Inc.		18,800		733,012
Copa Holdings SA, Class A Class A^#		1,400		65,940
Delta Air Lines, Inc.		24,240		1,073,590
JetBlue Airways Corp.*		8,700		185,397
Southwest Airlines Co.		18,630		700,861
Spirit Airlines, Inc.*		1,600		66,880
United Continental Holdings, Inc.*		12,033		580,953

			$	3,716,393
BUILDING PRODUCTS – 0.2%
Allegion PLC		2,233		135,230
Armstrong World Industries, Inc.*		620		23,982
Fortune Brands Home & Security, Inc.		4,760		231,288
Lennox International, Inc.		1,490		178,532
Masco Corp.		10,930		288,443
Owens Corning		3,690		170,441
Smith (A.O.) Corp.		2,500		174,625
USG Corp.^#,*		2,660		47,587

			$	1,250,128
COMMERCIAL SERVICES & SUPPLIES – 0.4%
ADT Corp. (The)^#		4,800		141,984
Cintas Corp.		3,520		302,438
Clean Harbors, Inc.*		1,300		57,603
Copart, Inc.*		4,700		157,497
Covanta Holding Corp.		4,900		69,286
KAR Auction Services, Inc.		4,100		137,022
Pitney Bowes, Inc.		5,600		109,648
Republic Services, Inc.		5,840		255,208
Rollins, Inc.		4,000		110,200


Description	Number of Shares		Value
RR Donnelley & Sons Co.		3,270	$	45,682
Stericycle, Inc.*		1,652		198,818
Tyco International PLC		4,320		148,565
Waste Connections, Inc.		5,695		341,529
Waste Management, Inc.		12,240		648,108

			$	2,723,588
CONSTRUCTION & ENGINEERING – 0.1%
AECOM*		5,991		164,393
Chicago Bridge & Iron Co. NV		2,982		115,761
Fluor Corp.		5,150		231,183
Jacobs Engineering Group, Inc.*		1,950		76,499
Quanta Services, Inc.*		6,110		114,257
Topbuild Corp.*		1,736		46,490

			$	748,583
ELECTRICAL EQUIPMENT – 0.4%
Acuity Brands, Inc.		1,300		263,159
AMETEK, Inc.		5,660		266,303
Babcock & Wilcox Enterprises, Inc.*		1,470		30,355
Eaton Corp. PLC		11,928		602,483
Emerson Electric Co.		18,490		850,170
Hubbell, Inc.		1,990		179,956
Regal-Beloit Corp.		600		33,726
Rockwell Automation, Inc.		3,620		345,963
SolarCity Corp.^#,*		2,120		75,578

			$	2,647,693
ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS – 0.0%**
GoPro, Inc., Class A^#,*		1,700		19,465
INDUSTRIAL CONGLOMERATES – 2.0%
3M Co.		18,710		2,825,210
Carlisle Cos., Inc.		1,290		107,947
Danaher Corp.		15,780		1,367,337
General Electric Co.		272,220		7,921,602
Roper Technologies, Inc.		3,000		527,010

			$	12,749,106
MACHINERY – 1.2%
AGCO Corp.^#		1,260		61,450
Allison Transmission Holdings, Inc.		4,800		114,192
Caterpillar, Inc.		15,900		989,616
Crane Co.		1,200		57,312
Cummins, Inc.		5,280		474,619
Deere & Co.^#		8,090		623,011
Donaldson Co., Inc.		6,260		176,407
Dover Corp.		4,160		243,152
Flowserve Corp.		3,000		115,920


Description	Number of Shares		Value
Graco, Inc.		2,140	$	155,535
IDEX Corp.		2,120		153,721
Illinois Tool Works, Inc.		8,000		720,560
Ingersoll-Rand PLC		7,000		360,290
ITT Corp.		2,535		82,261
Kennametal, Inc.		3,950		69,915
Lincoln Electric Holdings, Inc.		2,600		138,424
Manitowoc Co., Inc. (The)		3,910		61,543
Middleby Corp. (The)*		1,600		144,576
Nordson Corp.		2,000		120,860
Oshkosh Corp.		1,790		58,945
PACCAR, Inc.		8,490		416,604
Parker Hannifin Corp.		2,960		287,594
Pentair PLC^#		5,166		243,422
Snap-On, Inc.		1,280		206,797
SPX Corp.		330		3,069
Spx Flow, Inc.*		1,230		29,323
Stanley Black & Decker, Inc.		3,720		350,945
Terex Corp.		3,730		83,552
Timken Co. (The)		600		15,930
Toro Co. (The)		2,340		174,377
Trinity Industries, Inc.		5,400		115,668
Valmont Industries, Inc.		1,060		112,985
WABCO Holdings, Inc.*		2,050		183,783
Wabtec Corp.		3,320		212,314
Xylem, Inc.		5,110		183,705

			$	7,542,377
MARINE – 0.0%**
Kirby Corp.*		2,000		101,300
PROFESSIONAL SERVICES – 0.3%
Dun & Bradstreet Corp. (The)		930		91,531
Equifax, Inc.		4,060		429,548
IHS, Inc., Class A*		1,640		171,577
ManpowerGroup, Inc.		1,860		142,011
Nielsen Holdings PLC		11,900		573,104
Robert Half International, Inc.		5,010		219,288
TransUnion*		6,500		160,810
Verisk Analytics, Inc.*		4,800		350,400

			$	2,138,269
ROAD & RAIL – 0.6%
AMERCO		300		109,995
Avis Budget Group, Inc.*		3,080		80,912
CSX Corp.		27,700		637,654
Genesee & Wyoming, Inc., Class A*		2,100		104,118
Hertz Global Holdings, Inc.*		10,800		98,064
JB Hunt Transport Services, Inc.		2,980		216,646
Kansas City Southern		2,980		211,222


Description	Number of Shares		Value
Landstar System, Inc.		1,590	$	91,282
Norfolk Southern Corp.		8,360		589,380
Old Dominion Freight Line, Inc.*		2,800		153,524
Ryder System, Inc.		1,840		97,833
Union Pacific Corp.		25,020		1,801,440

			$	4,192,070
TRADING COMPANIES & DISTRIBUTORS – 0.2%
Air Lease Corp.		1,200		30,912
Fastenal Co.^#		8,020		325,291
GATX Corp.^#		690		28,276
HD Supply Holdings, Inc.*		4,900		128,723
MSC Industrial Direct Co., Inc., Class A		1,390		90,086
NOW, Inc.^#,*		6,463		87,638
United Rentals, Inc.*		2,420		115,942
Watsco, Inc.		100		11,621
WW Grainger, Inc.^#		1,790		352,075

			$	1,170,564
TRANSPORTATION INFRASTRUCTURE – 0.0%**
Macquarie Infrastructure Corp.		1,500		100,590

TOTAL INDUSTRIALS			$	57,872,518
INFORMATION TECHNOLOGY – 26.2%
COMMERCIAL SERVICES & SUPPLIES – 0.0%**
Sabre Corp.		3,620		92,708
COMMUNICATIONS EQUIPMENT – 1.7%
ARRIS International PLC*		7,680		195,610
Brocade Communications Systems, Inc.		15,290		122,014
Cisco Systems, Inc.		223,800		5,324,202
EchoStar Corp., Class A*		2,370		83,258
F5 Networks, Inc.*		3,590		336,670
Harris Corp.		5,159		448,678
Juniper Networks, Inc.		19,140		451,704
Lumentum Holdings, Inc.*		60		1,184
Motorola Solutions, Inc.		7,930		529,486
Palo Alto Networks, Inc.*		3,440		514,246
QUALCOMM, Inc.		66,880		3,032,339
Viavi Solutions, Inc.*		10,390		51,950

			$	11,091,341
COMPUTERS & PERIPHERALS – 4.5%
3D Systems Corp.^#,*		7,000		56,070
Apple, Inc.		254,660		24,788,604
EMC Corp.		80,270		1,988,288
HP, Inc.		73,890		717,472
Lexmark International, Inc., Class A		3,030		85,476
NCR Corp.*		6,920		147,673
NetApp, Inc.		14,903		326,823


Description	Number of Shares		Value
SanDisk Corp.		10,550	$	745,885
Western Digital Corp.		10,280		493,234

			$	29,349,525
ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS – 0.6%
Amphenol Corp., Class A		13,200		654,324
Arrow Electronics, Inc.*		2,940		151,704
Avnet, Inc.		4,660		186,027
CDW Corp.		6,640		255,308
Cognex Corp.		4,100		132,225
Corning, Inc.		53,420		994,146
Dolby Laboratories, Inc., Class A		150		5,401
Fitbit, Inc., Class A*		3,400		56,440
FLIR Systems, Inc.		5,690		166,376
Ingram Micro, Inc., Class A		4,800		135,360
IPG Photonics Corp.^#,*		2,000		161,660
Jabil Circuit, Inc.		6,140		122,247
Keysight Technologies, Inc.*		6,345		148,473
National Instruments Corp.		2,880		82,080
Trimble Navigation Ltd.*		12,480		240,739
Zebra Technologies Corp., Class A*		2,450		147,980

			$	3,640,490
INTERNET SOFTWARE & SERVICES – 5.4%
Akamai Technologies, Inc.*		8,250		376,365
Alphabet, Inc., Class C*		24,874		18,707,287
CoStar Group, Inc.*		1,300		227,981
eBay, Inc.*		55,040		1,291,238
Facebook, Inc., Class A*		94,480		10,601,601
GoDaddy, Inc., Class A^#,*		3,900		118,911
IAC/InterActiveCorp		3,590		186,465
LinkedIn Corp., Class A*		4,820		953,926
Match Group, Inc.^#,*		5,200		65,260
Pandora Media, Inc.*		10,400		101,088
Rackspace Hosting, Inc.*		5,080		102,667
Twitter, Inc.^#,*		26,860		451,248
VeriSign, Inc.^#,*		3,950		298,620
Yahoo!, Inc.*		38,730		1,142,922
Yelp, Inc.*		3,600		75,420
Zillow Group, Inc. Class A^#,*		3,600		75,204

			$	34,776,203
IT SERVICES – 5.1%
Accenture PLC, Class A		28,900		3,050,106
Alliance Data Systems Corp.*		2,690		537,435
Amdocs Ltd.		5,520		302,165
Automatic Data Processing, Inc.		19,130		1,589,512
Black Knight Financial Services, Inc., Class A^#,*		3,400		102,578


Description	Number of Shares		Value
Booz Allen Hamilton Holding Corp.		3,460	$	97,883
Broadridge Financial Solutions, Inc.		3,630		194,423
Cognizant Technology Solutions Corp., Class A*		28,360		1,795,472
Computer Sciences Corp.		5,600		179,592
CoreLogic, Inc.*		2,980		106,386
CSRA, Inc.		5,600		149,968
DST Systems, Inc.		1,670		176,035
Fidelity National Information Services, Inc.		11,143		665,571
First Data Corp., Class A*		21,600		288,792
Fiserv, Inc.*		9,560		903,994
FleetCor Technologies, Inc.*		4,200		515,928
Gartner, Inc.*		3,500		307,615
Genpact Ltd.*		11,200		267,904
Global Payments, Inc.		7,300		430,335
Hewlett Packard Enterprise Co.		86,990		1,196,982
International Business Machines Corp.		39,660		4,949,171
Jack Henry & Associates, Inc.		1,900		154,242
Leidos Holdings, Inc.^#		2,200		101,464
MasterCard, Inc., Class A		43,720		3,892,392
Paychex, Inc.		14,770		706,892
Paypal Holdings, Inc.*		43,940		1,587,992
Square, Inc., Class A^#,*		5,800		50,866
Teradata Corp.*		6,070		147,744
Total System Services, Inc.		8,720		350,195
Vantiv, Inc., Class A*		8,100		381,105
VeriFone Systems, Inc.*		4,000		93,560
Visa, Inc., Class A		86,020		6,407,630
Western Union Co. (The)		16,090		287,046
WEX, Inc.*		3,100		225,091
Xerox Corp.		51,460		501,735

			$	32,695,801
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT – 3.0%
Analog Devices, Inc.		14,520		782,047
Applied Materials, Inc.		51,880		915,682
Atmel Corp.		16,520		133,151
Avago Technologies Ltd.^#		11,600		1,551,036
Broadcom Corp., Class A		24,630		1,346,522
Cree, Inc.^#,*		5,210		146,036
Cypress Semiconductor Corp.*		12,000		94,320
First Solar, Inc.*		3,500		240,310
Intel Corp.		206,670		6,410,903
KLA-Tencor Corp.		7,300		489,027
Lam Research Corp.		6,980		501,094
Linear Technology Corp.		8,810		376,451
Marvell Technology Group Ltd.		12,790		113,192
Maxim Integrated Products, Inc.		11,320		378,088
Microchip Technology, Inc.^#		10,340		463,335


Description	Number of Shares		Value
Micron Technology, Inc.*		50,000	$	551,500
NVIDIA Corp.		26,180		766,812
ON Semiconductor Corp.*		14,070		120,439
Qorvo, Inc.*		3,400		134,640
Skyworks Solutions, Inc.		8,500		585,820
SunEdison, Inc.^#,*		17,500		54,775
SunPower Corp.^#,*		3,400		86,496
Teradyne, Inc.		7,450		144,754
Texas Instruments, Inc.		47,650		2,522,115
Xilinx, Inc.		12,400		623,348

			$	19,531,893
SOFTWARE – 5.9%
Activision Blizzard, Inc.		23,970		834,635
Adobe Systems, Inc.*		22,060		1,966,208
ANSYS, Inc.*		3,580		315,720
Autodesk, Inc.*		9,930		464,923
CA, Inc.		17,080		490,708
Cadence Design Systems, Inc.*		11,710		229,048
CDK Global, Inc.		4,676		205,978
Citrix Systems, Inc.*		7,590		534,791
Electronic Arts, Inc.*		14,660		946,230
FactSet Research Systems, Inc.		1,540		232,078
FireEye, Inc.^#,*		4,500		63,405
Fortinet, Inc.*		6,200		174,468
Intuit, Inc.		12,700		1,212,977
Microsoft Corp.		358,749		19,763,482
NetSuite, Inc.^#,*		1,600		110,992
Nuance Communications, Inc.*		9,100		160,433
Oracle Corp.		138,260		5,020,221
PTC, Inc.*		4,620		136,798
Red Hat, Inc.*		6,830		478,442
Salesforce.com, Inc.*		28,280		1,924,737
ServiceNow, Inc.*		7,300		454,133
SolarWinds, Inc.*		3,240		194,238
Solera Holdings, Inc.		2,700		146,502
Splunk, Inc.*		5,800		268,482
SS&C Technologies Holdings, Inc.		3,420		219,872
Symantec Corp.		25,820		512,269
Synopsys, Inc.*		5,500		235,950
Tableau Software, Inc., Class A*		2,100		168,504
Ultimate Software Group, Inc.*		1,140		200,218
VMware, Inc., Class A*		1,910		87,383
Workday, Inc., Class A*		5,800		365,458
Zynga, Inc., Class A*		45,600		112,176

			$	38,231,459
TELECOMMUNICATIONS – 0.0%**
Arista Networks, Inc.^#,*		200		12,006


Description	Number of Shares		Value
CommScope Holding Co, Inc.*		5,200	$	116,584
Zayo Group Holdings, Inc.*		2,600		65,052

			$	193,642

TOTAL INFORMATION TECHNOLOGY			$	169,603,062
TELECOMMUNICATION SERVICES – 1.5%
DIVERSIFIED TELECOMMUNICATION SERVICES – 1.4%
AT&T, Inc.		121,300		4,374,078
CenturyLink, Inc.		12,300		312,666
Frontier Communications Corp.^#		27,100		123,305
Level 3 Communications, Inc.*		2,200		107,382
Verizon Communications, Inc.		83,000		4,147,510

			$	9,064,941
WIRELESS TELECOMMUNICATION SERVICES – 0.1%
SBA Communications Corp., Class A*		2,700		268,056
Sprint Corp.^#,*		24,400		73,688
T-Mobile US, Inc.*		4,600		184,690

			$	526,434

TOTAL TELECOMMUNICATION SERVICES			$	9,591,375

TOTAL COMMON STOCKS (COST $546,007,731)			$	636,914,667
INVESTMENT COMPANIES – 1.1%
EQUITY FUNDS – 1.1%
iShares Russell 1000 ETF^#		33,360		3,574,524
iShares Russell 1000 Growth ETF		19,000		1,782,770
iShares Russell 1000 Value ETF^#		18,800		1,742,572
Western Asset Emerging Markets Income Fund, Inc.^#		1,000		9,550

TOTAL EQUITY FUNDS			$	7,109,416

TOTAL INVESTMENT COMPANIES (COST $7,546,775)			$	7,109,416
MONEY MARKET FUND – 0.3%
Dreyfus Cash Management Fund,
Institutional Shares, 0.28%^{^}		1,678,147		1,678,147

TOTAL MONEY MARKET FUND (COST $1,678,147)			$	1,678,147
RIGHTS – 0.0%**
Celgene Corp.*^,††		89		128
Community Health Systems, Inc.*		3,700		30

TOTAL RIGHTS (COST $142)			$	158
WARRANTS – 0.0%**
American International Group, Inc. CW21, Expire 1/19/21*		2,055		38,531
Kinder Morgan, Inc., Expire 5/25/17*		16,345		1,121

TOTAL WARRANTS (COST $48,690)			$	39,652


Description	Number of Shares		Value
TOTAL INVESTMENTS IN SECURITIES – 99.8% (COST $555,281,485)			$	645,742,040

	Par Value		Value
CASH COLLATERAL INVESTED FOR SECURITIES ON LOAN – 2.7%
REPURCHASE AGREEMENTS – 2.7%
Citigroup Global Markets, Inc., 0.34%, dated 1/29/16, due 2/01/16, repurchase price $3,320,531, collateralized by U.S. Government & Treasury Securities 0.00% to 9.50%, maturing 3/20/16 to 3/20/62; total market value of $3,386,846.	$	3,320,437	$	3,320,437
Daiwa Capital Markets America, 0.38%, dated 1/29/16, due 2/01/16, repurchase price $3,320,542, collateralized by U.S. Government & Treasury Securities 0.00% to 7.25%, maturing 3/23/16 to 2/01/49; total market value of $3,386,846.		3,320,437		3,320,437
HSBC Securities USA, Inc., 0.30%, dated 1/29/16, due 2/01/16, repurchase price $208,533, collateralized by U.S. Government Securities 0.00% to 7.25%, maturing 2/22/16 to 7/15/37; total market value of $212,699.		208,528		208,528
HSBC Securities USA, Inc., 0.31%, dated 01/29/16, due 2/01/16, repurchase price $665,154, collateralized by U.S. Government Securities 2.50% to 6.00%, maturing 1/01/28 to 1/01/46; total market value of $678,442.		665,137		665,137
ING Financial Markets LLC, 0.32%, dated 1/29/16, due 2/01/16, repurchase price $3,320,526, collateralized by U.S. Government Securities 1.70% to 6.26%, maturing 1/01/19 to 8/01/46; total market value of $3,386,861.		3,320,437		3,320,437


Description	Par Value		Value
Mizuho Securities USA, Inc., 0.35%, dated 1/29/16, due 2/01/16, repurchase price $3,320,534, collateralized by U.S. Government Securities 0.00% to 9.50%, maturing 10/01/19 to 7/01/43; total market value of $3,386,846.	$	3,320,437	$	3,320,437
TD Securities (USA) LLC, 0.35%, dated 1/29/16, due 2/01/16, repurchase price $3,320,534, collateralized by U.S. Government Securities 2.50% to 4.00%, maturing 9/01/26 to 9/01/45; total market value of $3,386,846.		3,320,437		3,320,437

TOTAL CASH COLLATERAL INVESTED FOR SECURITIES ON LOAN (COST $17,475,850)			$	17,475,850


Description			Value
TOTAL INVESTMENTS – 102.5% (COST $572,757,335)			$	663,217,890
COLLATERAL FOR SECURITIES ON LOAN – (2.7%)				(17,475,850	)
OTHER ASSETS LESS LIABILITIES – 0.2%				1,290,289

TOTAL NET ASSETS – 100.0%			$	647,032,329

Cost of investments for Federal income tax purposes is $580,683,204. The net unrealized appreciation/(depreciation) of investments was $82,534,686. This consists of net unrealized appreciation from investments for those securities having an excess of value over cost of $110,344,667 and net unrealized depreciation from investments for those securities having an excess of cost over value of $27,809,981.

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

Level 2 – other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.)

Level 3 – significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments)

The following is a summary of the inputs used as of January 31, 2016 in valuing the Fund’s assets carried at fair value:


Description	Number of Shares		Value
COMMON STOCKS – 88.3%
AUSTRALIA – 3.0%
a2 Milk Co Ltd		94,600	$	115,490
Arrium Ltd.^#		532,800		25,231
Asaleo Care Ltd.		179,000		199,011
Asciano Ltd.		22,614		143,365
Aurizon Holdings Ltd.		15,735		41,608
Australia & New Zealand Banking Group Ltd.		23,695		411,321
Bank of Queensland Ltd.		2,985		27,961
Bendigo & Adelaide Bank Ltd.		33,603		258,488
BHP Billiton Ltd.		39,620		435,105
BHP Billiton PLC-ADR		1,197		23,521
Boart Longyear Ltd.*		48,400		1,718
Boral Ltd.		9,548		38,313
Caltex Australia Ltd.		111,687		2,986,790
Challenger Ltd.		44,000		250,421
Domino’s Pizza Enterprises L		11,300		485,215
Downer EDI Ltd.		40,700		91,121
Fortescue Metals Group Ltd.^#		23,110		29,043
Incitec Pivot Ltd.		27,617		61,558
LendLease Group		27,700		258,664
Macquarie Group Ltd.		7,525		388,151
Mcmillan Shakespeare Ltd.		23,900		217,528
Metcash Ltd.^#		42,500		53,367
Mineral Resources Ltd.^#		24,300		64,943
National Australia Bank Ltd.		12,646		251,225
Newcrest Mining Ltd.		316,197		2,972,471
Orica Ltd.		12,966		132,135
Origin Energy Ltd.^††		20,242		59,909
Primary Health Care Ltd.		44,600		78,602
Programmed Maintenance Services Ltd.		36,190		51,973
Qantas Airways Ltd.*		171,337		476,455
QBE Insurance Group Ltd.		11,717		91,656
Rio Tinto Ltd.		9,680		273,361
Santos Ltd.^††		49,496		113,514
South32 Ltd.*		18,091		12,698
Star Entertainment Grp Ltd/The		9,883		38,148
Suncorp Group Ltd.		16,400		136,818
Treasury Wine Estates Ltd.		77,064		501,571
Wesfarmers Ltd.		6,194		186,891
Woodside Petroleum Ltd.		14,366		289,537

TOTAL AUSTRALIA			$	12,274,897


Description	Number of Shares		Value
AUSTRIA – 0.5%
Erste Group Bank AG		51,772	$	1,495,510
OMV AG		7,100		182,755
Raiffeisen International Bank Holding AG^#		5,800		73,158
Voestalpine AG		9,400		247,210

TOTAL AUSTRIA			$	1,998,633
BELGIUM – 1.1%
Ageas		3,854		156,514
Anheuser-Busch InBev NV		20,403		2,566,001
bpost SA		11,500		272,812
Delhaize Group		8,599		902,547
Delhaize Group SA ADR^#		7,850		205,042
KBC Groep NV		2,692		154,269
Proximus		1,059		36,607
Solvay SA		1,700		140,832
UCB SA		458		39,159
Umicore SA		1,295		47,611

TOTAL BELGIUM			$	4,521,394
BERMUDA – 0.0%**
Seadrill Ltd.^#,*		5,806		12,018
BOTSWANA – 0.0%**
Standard Chartered Bank Botswana Ltd.		41,700		40,093
BRAZIL – 0.2%
Ambev SA		17,675		82,458
Banco Santander Brasil SA ADR^#		3,700		11,840
BB Seguridade Participacoes SA		2,800		16,192
BM&FBovespa SA		6,807		17,461
BRF SA		2,656		32,026
CCR SA		13,000		41,537
Centrais Eletricas Brasileiras SA		9,500		13,823
Cia de Saneamento Basico do Estado de Sao Paulo		5,300		28,250
Cia Energetica de Minas Gerais		2,768		4,014
Cielo SA		15,099		127,857
CPFL Energia SA		9,289		37,646
Cyrela Brazil Realty SA Empreendimentos e Participacoes		6,300		11,262
Embraer SA		9,800		70,466
Equatorial Energia SA		1,600		14,497
Estacio Participacoes SA		3,800		11,125
Fibria Celulose SA*		1,500		16,523
Gafisa SA		28,700		16,862


Description	Number of Shares		Value
Klabin SA - Unit		8,000	$	42,002
Kroton Educacional SA		12,700		26,989
Localiza Rent a Car SA		4,440		24,344
Lojas Renner SA		9,100		40,361
Marfrig Alimentos SA*		14,350		21,885
Natura Cosmeticos SA		3,600		20,170
Odontoprev SA		13,200		33,332
Qualicorp SA		8,500		28,668
Tim Participacoes SA		20,906		33,294
Totvs SA		2,900		23,491
Tractebel Energia SA		3,500		29,611
Ultrapar Participacoes SA		4,300		63,837
Weg SA		8,640		33,395

TOTAL BRAZIL			$	975,218
BULGARIA – 0.0%**
Olovno Tzinkov Komplex AD*		900		—
Petrol AD*		14,543		4,102

TOTAL BULGARIA			$	4,102
CANADA – 3.0%
Agnico Eagle Mines Ltd.^#		4,550		133,952
Air Canada		35,800		200,607
Bank of Montreal^#		6,849		366,558
Barrick Gold Corp.		44,571		441,699
Blackberry Ltd.*		9,312		66,301
Bombardier, Inc.		131,900		92,271
Cameco Corp.		6,106		74,127
Canadian Imperial Bank of Commerce		7,600		494,985
Canadian Natural Resources Ltd.		19,394		412,316
Canadian Oil Sands Ltd.		700		4,692
Canadian Tire Corp. Ltd.^#		3,632		295,947
CCL Industries, Inc. Class B		4,265		601,283
Cenovus Energy, Inc.		6,453		79,307
Colliers International Group, Inc.		5,400		234,672
Cott Corp.		20,200		207,454
Crescent Point Energy Corp.^#		9,412		104,473
Dollarama, Inc.		6,200		332,682
Dorel Industries, Inc.		8,700		171,094
Eldorado Gold Corp.		6,710		15,204
Empire Co. Ltd.		20,202		381,861
Encana Corp.		13,550		59,214
Fairfax Financial Holdings Ltd.		315		162,190
Finning International, Inc.		1,200		15,282
First Quantum Minerals Ltd.		7,072		15,296
FirstService Corp.		5,700		217,641
Franco-Nevada Corp.		62,632		2,773,262
Genworth MI Canada, Inc.^#		1,061		18,351


Description	Number of Shares		Value
Goldcorp, Inc.		8,940	$	101,380
Husky Energy, Inc.		7,226		71,904
Industrial Alliance Insurance & Financial Services, Inc.		1,794		53,260
Keyera Corp.		10,500		287,815
Kinross Gold Corp.*		20,413		33,660
Laurentian Bank of Canada		5,700		194,082
Lundin Mining Corp.*		15,100		37,402
Magna International, Inc.		12,200		423,852
Manulife Financial Corp.		24,595		341,826
Martinrea International, Inc.		4,600		31,030
Metro, Inc.		7,900		233,521
National Bank of Canada		13,100		373,765
Parex Resources, Inc.*		51,900		341,949
RONA, Inc.		27,200		238,818
Shaw Communications, Inc.		12,500		216,379
Silver Wheaton Corp.		5,496		64,633
Sun Life Financial, Inc.		2,658		76,236
Suncor Energy, Inc.		25,234		597,210
Superior Plus Corp.^#		29,000		215,911
Teck Resources Ltd.^#		8,809		32,858
Tourmaline Oil Corp.*		3,300		65,793
Transcontinental, Inc.		12,000		157,956
Turquoise Hill Resources Ltd.		5,300		11,085
WestJet Airlines Ltd.		12,000		162,495
Whitecap Resources, Inc.^#		5,000		27,340
Yamana Gold, Inc.		8,144		14,010

TOTAL CANADA			$	12,378,891
CHILE – 0.2%
AES Gener SA		48,884		21,591
Aguas Andinas SA		57,100		28,636
Antarchile SA		2,964		26,590
Banco de Chile		295,260		30,408
Banco de Credito e Inversiones		401		15,516
Banco Santander Chile ADR		1,292		22,339
Banmedica SA		16,849		23,381
Cencosud SA		19,691		39,904
Cia Cervecerias Unidas SA ADR		1,200		25,908
Corpbanca SA		1,842,402		13,959
Empresa Nacional de Electricidad SA ADR		710		27,548
Empresas CMPC SA		25,036		56,807
Empresas COPEC SA		11,235		97,802
Enersis SA		136,816		32,649
ENTEL Chile SA		6,474		62,358
Latam Airlines Group SA		7,441		38,096
Parque Arauco SA		10,596		16,501


Description	Number of Shares		Value
Quinenco SA		10,102	$	17,984
SACI Falabella		13,826		91,071
Sigdo Koppers SA		19,571		22,495
Sonda SA		31,307		49,958

TOTAL CHILE			$	761,501
CHINA – 1.8%
Agricultural Bank of China Ltd.		51,000		18,205
Alibaba Group Holding Ltd. ADR*		33,570		2,250,197
Aluminum Corp. of China Ltd.^#,*		88,000		26,744
Anhui Conch Cement Co. Ltd.		24,000		47,120
Baidu, Inc. ADR*		270		44,083
Bank of China Ltd.		68,000		26,627
Bank of Communications Co. Ltd.		27,800		16,996
Beijing Enterprises Clean Enenergy Group Ltd.		280,000		14,243
Beijing Enterprises Water Gr^#		32,000		15,968
Belle International Holdings Ltd.		22,000		14,823
Brilliance China Automotive Holdings Ltd.		28,000		26,996
Byd Co. Ltd.*		6,000		27,602
Cgn Power Co. Ltd.-H		60,000		17,793
China Agri-Industries Holdings Ltd.		74,000		19,994
China CITIC Bank Corp. Ltd.^††		42,000		24,595
China Communications Construction Co. Ltd.		25,000		22,331
China Construction Bank Corp.		69,810		42,619
China COSCO Holdings Co. Ltd.*^,††		135,500		48,508
China Eastern Airlines Corp. Ltd.*^,††		36,000		17,577
China Life Insurance Co. Ltd.		8,000		19,396
China Longyuan Power Group Corp.		37,000		22,108
China Mengniu Dairy Co. Ltd.		19,000		26,507
China Merchants Bank Co. Ltd.		8,052		15,652
China Merchants Holdings International Co. Ltd.		8,000		22,081
China Minsheng Banking Corp. Ltd.		21,000		18,637
China Mobile Ltd.		17,500		192,223
China National Building Material Co. Ltd.		34,000		14,180
China Petroleum & Chemical Corp.		105,800		59,770
China Railway Construction Corp. Ltd.		14,400		14,461
China Resources Power Holdings Co. Ltd.		39,600		67,362
China Shenhua Energy Co. Ltd.		14,500		21,894
China Southern Airlines Co. Ltd.		31,000		18,799
China Telecom Corp. Ltd.		36,000		16,932
China Unicom Hong Kong Ltd.		26,652		29,528
China Yurun Food Group Ltd.^#,*		106,000		14,572
CNOOC Ltd.		69,000		70,327
COSCO Pacific Ltd.^††		38,000		43,132
CSPC Pharmaceutical Group Ltd.		18,000		15,223
Ctrip.com International Ltd. ADR^#,*		1,000		42,680


Description	Number of Shares		Value
Datang International Power
Generation Co. Ltd.		132,000	$	35,265
Dongfeng Motor Group Co. Ltd.		14,000		16,666
Great Wall Motor Co. Ltd.		30,000		23,162
Guangzhou Automobile Group Co. Ltd.		20,974		17,682
Hengan International Group Co. Ltd.		6,500		58,227
Industrial & Commercial Bank of China		71,000		36,951
Jiangxi Copper Co. Ltd.		20,000		20,291
Kingboard Chemical Holdings Ltd.		120,600		185,451
Kunlun Energy Co. Ltd.		28,000		21,126
Lenovo Group Ltd.		24,000		21,543
NetEase, Inc. ADR		130		20,298
New Oriental Education & Technology Group ADR		1,100		34,551
PetroChina Co. Ltd.		88,000		54,515
Ping An Insurance Group Co. of China Ltd.		4,000		18,123
Qihoo 360 Technology Co. Ltd. ADR^#,*		300		21,513
Shandong Weigao Group Medical Polymer Co. Ltd.		64,000		41,267
Shanghai Electric Group Co. Ltd.^††		38,000		16,865
Sihuan Pharmaceutical Holdings Group Ltd.		69,000		—
SINA Corp.*		500		22,975
Sinopec Shanghai Petrochemical Co. Ltd.		81,000		32,844
Sinopharm Group Co.-H		28,400		100,880
Sohu.com, Inc.*		400		20,156
Tencent Holdings Ltd.		158,056		2,969,351
Tingyi Cayman Islands Holding Corp.		14,000		15,995
Want Want China Holdings Ltd.		65,000		42,701
Yantai Changyu Pioneer Wine Co. Ltd.		9,100		28,514
Zijin Mining Group Co. Ltd.^#		90,000		20,468
ZTE Corp.		13,728		24,948

TOTAL CHINA			$	7,390,813
COLOMBIA – 0.7%
Almacenes Exito SA		5,987		25,170
Banco de Bogota SA		1,103		18,750
Bancolombia SA ADR		36,786		1,085,187
Cementos Argos SA		212,013		632,971
Corp Financiera Colombiana SA		1,730		19,100
Corp Financiera Colombiana SA		16		170
Ecopetrol SA ADR^#		6,800		43,792
Empresa de Energia de Bogota SA		39,263		19,856
Grupo Argos SA		50,138		255,082
Grupo Aval Acciones y Valore SA ADR^#		25,847		169,556
Grupo Aval Acciones y Valores		57,900		18,786
Grupo de Inversiones Suramericana SA		40,630		443,124
Grupo Nutresa SA		5,878		42,153
Grupo Odinsa SA		3,016		7,810
Interconexion Electrica SA ESP		8,448		18,942


Description	Number of Shares		Value
Isagen SA ESP		27,702	$	33,166

TOTAL COLOMBIA			$	2,833,615
CZECH REPUBLIC – 0.1%
CEZ AS		6,233		103,657
Komercni Banka AS		585		123,020
Pegas Nonwovens SA		1,790		50,352
Philip Morris CR AS		82		42,707

TOTAL CZECH REPUBLIC			$	319,736
DENMARK – 1.8%
AP Moeller – Maersk A/S Class A		275		353,821
AP Moeller – Maersk A/S Class B		70		88,478
Carlsberg A/S		986		83,127
CHR Hansen Holding A/S		7,400		453,081
Danske Bank A/S		4,636		124,762
DSV A/S		741		28,837
Genmab A/S*		4,212		528,930
H Lundbeck A/S		7,100		230,612
Iss A/S		1,246		44,050
Novo Nordisk A/S Class B		67,189		3,753,742
Pandora A/S		4,300		575,278
Royal Unibrew A/S		6,755		283,227
SimCorp.		4,300		210,974
Sydbank A/S		2,100		61,320
TDC A/S		59,351		254,880
Vestas Wind Systems A/S*		3,399		222,411

TOTAL DENMARK			$	7,297,530
EGYPT – 0.1%
Commercial International Bank Egypt SAE		24,568		98,857
Eastern Tobacco		2,191		42,838
Egyptian Financial Group-Hermes Holding*		34,798		32,319
ElSwedy Electric Co.		5,430		23,400
EZZ Steel*		27,000		25,657
Juhayna Food Industries		61,900		57,119
Orascom Telecom Holding SAE*		272,255		64,078
Orascom Telecom Media & Technology Holding SAE*		224,975		16,737
Oriental Weavers		40,500		34,972
Sidi Kerir Petrochemicals Co.		30,650		40,915
Six of October Development*		8,300		7,941
Talaat Moustafa Group		63,935		42,982

TOTAL EGYPT			$	487,815
FINLAND – 1.0%
Fortum OYJ		5,226		82,176
Huhtamaki OYJ		11,900		420,658
Neste Oil OYJ^#		10,477		328,236


Description	Number of Shares		Value
Nokia OYJ*		389,083	$	2,802,730
Stora Enso OYJ		11,181		91,122
UPM-Kymmene OYJ		23,527		383,413

TOTAL FINLAND			$	4,108,335
FRANCE – 9.8%
Air Liquide SA		10,410		1,076,487
Alstom SA^#		9,000		241,502
Arkema SA		1,700		106,183
AXA SA		118,069		2,917,794
BNP Paribas SA		13,434		636,390
Bollore SA		4,502		18,170
Bouygues SA		4,508		176,461
Casino Guichard Perrachon SA^#		745		33,770
Cellectis SA^#		6,200		138,814
Cie de St-Gobain^#		17,520		722,071
Cie Generale des Etablissements Michelin		22,367		2,040,605
CNP Assurances		32,306		432,010
Credit Agricole SA		31,042		309,769
Danone SA		44,713		3,079,609
Electricite de France SA		27,803		363,564
Essilor International SA		21,187		2,628,484
GDF Suez		34,944		557,548
Hermes International		400		136,085
Ipsen SA		3,800		219,029
JCDecaux SA		21,242		836,424
Legrand SA		17,807		980,814
L’Oreal SA		30,617		5,233,175
LVMH Moet Hennessy Louis Vuitton SA		9,637		1,550,070
Natixis		11,825		57,855
Nexity SA		6,800		307,767
Orange SA		184,881		3,282,666
Pernod-Ricard SA		20,620		2,413,219
Peugeot SA*		9,433		140,266
Renault SA		4,100		347,895
Saft Groupe SA		6,100		159,446
Sanofi		10,200		848,235
Schneider Electric SA		36,325		1,938,139
SCOR SE		7,560		263,527
SEB SA		4,600		449,103
Societe Generale SA		16,011		610,778
STMicroelectronics NV		15,609		101,974
Teleperformance		5,500		458,232
Thales SA		2,700		205,509
Total SA		93,400		4,148,893
Valeo SA		1,200		155,925
Vivendi SA		2,152		46,784

TOTAL FRANCE			$	40,371,041


Description	Number of Shares		Value
GERMANY – 9.0%
Adidas AG		28,800	$	2,965,596
Allianz SE		25,716		4,161,764
Aurelius AG		2,600		131,267
BASF SE		8,200		546,554
Bayerische Motoren Werke AG		10,830		901,972
Commerzbank AG*		9,457		76,852
Daimler AG		34,498		2,415,323
Deutsche Bank AG		20,003		358,471
Deutsche Bank AG		1,834		32,810
Deutsche Boerse AG		35,603		3,038,080
Deutsche Lufthansa AG		5,417		79,433
Deutsche Wohnen AG*		16,400		432,369
E.ON AG		21,719		222,550
Fraport AG Frankfurt Airport Services Worldwide		573		34,753
Freenet AG		1,500		46,647
Fresenius Medical Care AG & Co. KGaA		11,893		1,056,221
Fresenius SE & Co. KGaA		22,835		1,515,274
GEA Group AG		72,193		3,028,706
Hannover Rueck SE		406		42,730
HeidelbergCement AG		2,279		167,878
Henkel AG & Co. KGaA		31,834		2,935,383
K+S AG^#		3,051		64,499
Kion Group AG*		10,000		493,662
Linde AG		13,077		1,779,445
Metro AG		1,714		48,566
Muenchener Rueckversicherungs AG		2,944		567,222
Rheinmetall AG		9,300		664,481
RWE AG		4,651		65,149
SAP AG		60,355		4,809,361
Sixt SE		1,800		83,576
SMA Solar Technology AG		1,200		59,246
Stada Arzneimittel AG		5,400		187,080
Stroeer Media SE		4,800		282,476
Symrise AG		45,918		2,977,732
Talanx AG		928		26,813
Telefonica Deutschland Holdi		7,716		38,272
Volkswagen AG^#		2,822		370,435
Wincor Nixdorf AG		7,300		370,153

TOTAL GERMANY			$	37,078,801
GHANA – 0.0%**
Produce Buying Co. Ltd.*		288,000		7,285
GREECE – 0.1%
Aegean Marine Petroleum Network, Inc.		2,300		16,376
Alpha Bank AE^††		8,769		17,785
Athens Water Supply & Sewage Co.		3,776		19,127


Description	Number of Shares		Value
Costamare, Inc.		1,300	$	9,451
Diana Shipping, Inc.*		3,211		8,027
Ellaktor SA		8,300		10,710
Eurobank Ergasias SA^††		5,988		4,978
FF Group		800		12,566
GasLog Ltd.^#		1,300		9,711
GEK Terna Holding Real Estate Construction SA		7,360		10,953
Hellenic Exchanges – Athens Stock Exchange SA		3,700		18,135
Hellenic Telecommunications Organization SA		5,742		49,995
Jumbo SA*		1,915		20,340
Motor Oil Hellas Corinth Refineries SA		1,733		18,672
Mytilineos Holdings SA*		3,742		13,020
National Bank of Greece SA^††		19,467		5,380
OPAP SA		3,655		27,093
Piraeus Bank SA^††		1,450		291
Public Power Corp. SA		7,317		27,858
Titan Cement Co. SA*		2,009		38,740
Tsakos Energy Naviagation Ltd.		2,100		12,222

TOTAL GREECE			$	351,430
HONG KONG – 0.6%
Cathay Pacific Airways Ltd.		15,000		23,674
Cheung Kong Property Holdings Ltd.		10,000		53,529
CK Hutchison Holdings Ltd.		10,373		129,608
Dah Sing Financial Holdings Ltd.		49,044		230,535
Guangdong Investment Ltd.		20,000		25,589
Hang Lung Group Ltd.		15,000		41,441
Hang Lung Properties Ltd.		38,000		70,096
Hongkong & Shanghai Hotels		6,000		6,028
Hopewell Holdings Ltd.		5,500		16,691
Huabao International Holdings Ltd.		409,000		152,478
Hutchison Port Holdings Trust		96,300		46,013
Kerry Properties Ltd.		9,500		21,987
Lee & Man Paper Manufacturing Ltd.		349,500		198,068
MTR Corp. Ltd.^#,††		4,000		18,110
New World Development Co. Ltd.		156,235		127,897
NWS Holdings Ltd.		139,000		207,243
Orient Overseas International Ltd.		2,500		9,313
Shangri-La Asia Ltd.		28,857		26,883
Sino Biopharmaceutical		36,000		24,807
Sino Land Co. Ltd.		34,000		43,680
Skyworth Digital Holdings Ltd.		486,000		252,544
Smartone Telecommunications Holdings Ltd.		109,000		169,084
Sun Hung Kai Properties Ltd.		19,165		207,926
Swire Pacific Ltd.		11,500		110,938
Swire Pacific Ltd.		10,000		17,773


Description	Number of Shares		Value
Television Broadcasts Ltd.		48,200	$	168,798
Wharf Holdings Ltd.^#		15,000		70,196
Wheelock & Co. Ltd.		14,703		56,290

TOTAL HONG KONG			$	2,527,219
HUNGARY – 0.1%
Magyar Telekom Telecommunications PLC		33,310		45,982
MOL Hungarian Oil & Gas PLC		3,093		150,387
OTP Bank PLC		7,640		162,524
Richter Gedeon Nyrt		8,050		157,101

TOTAL HUNGARY			$	515,994
INDIA – 0.3%
Aditya Birla Fashion and Retail Ltd.		4,576		15,059
Apollo Hospitals Enterprise Ltd. GDR		2,413		52,608
Axis Bank Ltd.- GDR Reg S		602		18,306
CESC Ltd. GDR		5,317		35,730
Cipla Ltd. GDR		5,636		49,309
Cox & Kings Ltd. GDR		14,973		50,398
Dr Reddy’s Laboratories Ltd. ADR^#		1,000		44,930
GAIL India Ltd. GDR		1,329		42,626
Grasim Industries Ltd. GDR		598		29,785
Great Eastern Shipping Co Ltd./The		2,055		51,074
Hindalco Industries Ltd. GDR^Ώ		44,300		46,010
ICICI Bank Ltd. ADR		2,400		15,960
Indiabulls Housing Finance Ltd. GDR		2,633		27,689
Infosys Ltd. ADR		7,100		127,161
Larsen & Toubro Ltd. GDR – Reg S		3,719		60,359
Mahindra & Mahindra Ltd. GDR		3,030		54,593
NCC Ltd. GDR		27,494		26,115
Reliance Communication Ltd. GDR^Ώ		67,500		61,803
Reliance Industries Ltd. GDR^Ώ		4,100		124,632
Reliance Infrastructure GDR		2,000		41,652
State Bank of India GDR		1,700		45,841
Suzlon Energy Ltd. GDR		31,532		35,123
Tata Motors Ltd. ADR		590		14,738
Tata Steel Ltd. GDR		8,974		34,173
United Spirits Ltd. GDR		2,759		50,805
Videocon d2h Ltd. ADR^#,*		4,800		31,776
Wipro Ltd. ADR^#		2,200		25,784
WNS Holdings Ltd. ADR		1,800		51,642

TOTAL INDIA			$	1,265,681
INDONESIA – 0.2%
Adaro Energy Tbk PT		522,500		20,174
AKR Corporindo Tbk PT		81,500		43,753
Astra International Tbk PT		185,900		88,386
Bank Central Asia Tbk PT		29,800		28,573
Bank Mandiri Persero Tbk PT		29,100		20,550


Description	Number of Shares		Value
Bank Negara Indonesia Persero Tbk PT		54,200	$	19,544
Bank Rakyat Indonesia Persero Tbk PT		33,000		27,216
Charoen Pokphand Indonesia Tbk PT		67,200		16,551
Gudang Garam Tbk PT		6,700		28,569
Hanson International Tbk PT		375,000		18,302
Indo Tambangraya Megah Tbk PT		50,100		17,684
Indocement Tunggal Prakarsa Tbk PT		23,000		33,277
Indofood Sukses Makmur Tbk PT		54,400		24,753
Indosat Tbk PT		36,100		14,385
Kalbe Farma Tbk PT		995,800		97,368
Perusahaan Gas Negara Persero Tbk PT		342,300		60,501
Semen Indonesia Persero Tbk PT		60,700		49,265
Surya Semesta Internusa Tbk PT		410,000		19,473
Tambang Batubara Bukit Asam Persero Tbk PT		66,300		21,654
Telekomunikasi Indonesia Persero Tbk PT		387,900		95,167
Unilever Indonesia Tbk PT		14,800		39,701
United Tractors Tbk PT		30,500		38,981

TOTAL INDONESIA			$	823,827
IRELAND – 0.9%
Allergan PLC*		9,993		2,842,309
Bank of Ireland*		369,635		121,907
DCC PLC		5,700		440,060
Icon PLC^#		4,700		310,529

TOTAL IRELAND			$	3,714,805
ISRAEL – 0.3%
Bank Hapoalim BM		21,400		99,400
Bank Leumi Le-Israel BM*		13,094		43,123
Mizrahi Tefahot Bank Ltd.		2,704		30,355
NICE Systems Ltd. ADR*		500		30,265
Teva Pharmaceutical Industries Ltd.		14,200		872,550

TOTAL ISRAEL			$	1,075,693
ITALY – 0.4%
Astaldi SpA^#		17,900		90,189
Banco Popolare Sc*		888		8,271
Brembo-SpA		9,700		397,985
Enel SpA		104,200		427,810
Eni SpA		18,027		261,609
Mediobanca SpA		34,300		274,892
UniCredit SpA		64,293		248,544
Unione di Banche Italiane SCPA		16,686		78,189

TOTAL ITALY			$	1,787,489
JAPAN – 17.4%
Adastria Holdings Co. Ltd.		5,500		330,697
Aeon Co. Ltd.^#		12,100		161,488
Aisin Seiki Co. Ltd.		3,400		144,373


Description	Number of Shares		Value
Amada Co. Ltd.		3,600	$	34,001
Aoyama Trading Co. Ltd.		400		15,922
Asahi Glass Co. Ltd.		15,000		91,459
Asahi Intecc Co. Ltd.		6,700		308,776
Asahi Kasei Corp.		27,000		175,429
Bank of Kyoto Ltd.^#		4,000		31,030
Bank of Yokohama Ltd.		13,000		69,338
Brother Industries Ltd.		23,200		234,451
Canon Marketing Japan, Inc.		1,600		28,898
Central Glass Co. Ltd.		82,000		440,175
Chiba Bank Ltd.		8,000		49,486
Chugoku Bank Ltd.		1,500		17,856
Citizen Holdings Co. Ltd.^#		2,900		17,694
Coca-Cola East Japan Co. Ltd.		2,500		40,343
Coca-Cola West Co. Ltd.		1,400		30,887
CyberAgent Inc.^#		70,907		3,345,906
Dai Nippon Printing Co. Ltd.^#		7,000		65,491
Daido Steel Co. Ltd.		5,000		20,787
Daifuku Co. Ltd.		27,300		455,843
Daihatsu Motor Co. Ltd.^#		5,300		82,740
Dai-ichi Life Insurance Co. Ltd.		8,100		111,956
Daiichi Sankyo Co. Ltd.		150,300		3,129,398
Dainippon Ink & Chemicals, Inc.		15,000		38,653
DCM Holdings Co. Ltd.^#		28,600		206,585
Denki Kagaku Kogyo KK		8,000		35,455
Dentsu, Inc.		28,265		1,502,178
Dynam Japan Holdings Co. Ltd.		122,200		140,170
Ebara Corp.		7,000		31,005
Eizo Nanao Corp.^#		9,500		226,494
Ezaki Glico Co Ltd		7,200		393,548
FANUC Corp.^#		22,545		3,018,543
FUJIFILM Holdings Corp.		3,557		137,435
Fujikura Ltd.		48,000		235,124
Fukuoka Financial Group, Inc.		8,690		36,880
Geo Holdings Corp.		8,600		132,906
Glory Ltd.		1,200		38,374
GMO Internet, Inc.		23,800		294,901
Gunma Bank Ltd.		3,000		16,611
H2O Retailing Corp.		1,000		17,046
Hachijuni Bank Ltd.		2,000		11,184
Heiwa Corp.		19,100		372,028
Hino Motors Ltd.		15,100		171,358
Hitachi Capital Corp.		900		22,178
Hitachi Chemical Co. Ltd.		2,200		38,678
Hitachi Construction Machinery Co. Ltd.^#		2,200		32,080
Hitachi High-Technologies Corp.		1,100		31,214
Hitachi Ltd.		51,000		252,043
Hitachi Transport System Ltd.		1,300		21,183


Description	Number of Shares		Value
Hokuhoku Financial Group, Inc.		9,000	$	16,694
Honda Motor Co. Ltd.		19,900		539,429
Ibiden Co. Ltd.		2,300		32,399
Idemitsu Kosan Co. Ltd.^#		1,200		17,999
Iida Group Holdings Co. Ltd.		13,900		247,794
Inpex Corp.		3,016		26,853
Isetan Mitsukoshi Holdings Ltd.		1,400		17,778
Istyle, Inc.		18,200		144,676
Isuzu Motors Ltd.		19,700		199,619
ITOCHU Corp.		49,700		584,121
Iyo Bank Ltd.		3,000		25,431
J Front Retailing Co. Ltd.		3,500		48,273
Japan Exchange Group, Inc.		202,919		2,884,889
Japan Tobacco, Inc.		42,910		1,680,517
JFE Holdings, Inc.		8,598		116,555
Joyo Bank Ltd.		9,000		36,551
JSR Corp.		900		13,070
JX Holdings, Inc.		59,482		227,162
Kajima Corp.		36,000		203,642
Kamigumi Co. Ltd.		4,000		36,048
Kaneka Corp.		6,000		57,422
Kao Corp.		50,774		2,724,805
Kawasaki Kisen Kaisha Ltd.^#		21,000		37,700
Kayaba Industry Co. Ltd.		76,000		219,184
KDDI Corp.		125,209		3,170,618
Kobe Steel Ltd.		64,000		62,192
Koito Manufacturing Co. Ltd.		6,100		276,620
Komatsu Ltd.		7,100		106,157
Konica Minolta, Inc.		8,500		71,646
K’s Holdings Corp.^#		800		27,249
Kuraray Co. Ltd.^#		4,500		54,280
Kusuri No Aoki Co. Ltd.		5,500		237,542
Kyocera Corp. ADR^#		200		7,990
Kyocera Corp.		1,274		53,125
Kyowa Exeo Corp.^#		16,100		165,702
Kyowa Hakko Kirin Co. Ltd.		16,000		231,952
LIXIL Group Corp.		17,603		371,514
Marubeni Corp.^#		87,100		416,589
Medipal Holdings Corp.		2,200		35,683
Megmilk Snow Brand Co. Ltd.		24,200		631,870
Miraca Holdings, Inc.		2,800		115,554
Misumi Group, Inc.^#		11,900		145,527
Mitsubishi Chemical Holdings Corp.		28,600		159,509
Mitsubishi Corp.		15,310		245,418
Mitsubishi Gas Chemical Co., Inc.		72,000		344,135
Mitsubishi Heavy Industries Ltd.		34,000		133,627
Mitsubishi Materials Corp.		20,000		61,692
Mitsubishi UFJ Financial Group, Inc.		208,594		1,069,649


Description	Number of Shares		Value
Mitsui & Co. Ltd.		8,537	$	97,037
Mitsui Chemicals, Inc.		117,000		512,195
Mitsui OSK Lines Ltd.		16,000		31,703
Mizuho Financial Group, Inc.		518,100		896,428
Mochida Pharmaceutical Co. Ltd.		1,400		108,273
Morinaga & Co Ltd/Japan		95,000		523,281
MS&AD Insurance Group Holdings		2,882		78,278
NEC Corp.		53,000		140,372
Nexon Co. Ltd.		41,500		673,597
Nhk Spring Co. Ltd.		4,600		45,336
Nichirei Corp.		22,000		163,844
Nihon Chouzai Co. Ltd.		8,000		317,720
Nikkiso Co. Ltd.^#		2,000		13,256
Nikon Corp.		4,500		66,202
Nippo Corp.		2,000		29,708
Nippon Electric Glass Co. Ltd.		3,000		15,527
Nippon Express Co. Ltd.		20,000		93,685
Nippon Paper Industries Co. Ltd.		2,200		35,341
Nippon Shokubai Co. Ltd.		200		13,073
Nippon Steel & Sumitomo Metal Corp.		9,944		178,239
Nippon Telegraph & Telephone Corp.		103,126		4,390,344
Nippon Yusen KK		41,000		87,959
Nissan Motor Co. Ltd.		86,400		859,310
Nisshinbo Holdings, Inc.		3,000		30,205
NKSJ Holdings, Inc.		1,000		29,657
NOK Corp.		2,200		45,738
Nomura Holdings, Inc.		28,800		156,296
Nomura Real Estate Holdings, Inc.		1,100		19,317
NS Solutions Corp.		16,000		362,748
NTN Corp.*		5,000		19,025
NTT DoCoMo, Inc.		162,666		3,607,647
Obayashi Corp.		21,000		189,451
Oji Paper Co. Ltd.		17,000		68,656
Omron Corp.		14,500		376,847
Open House Co. Ltd.		12,500		235,848
Otsuka Holdings Co. Ltd.		1,700		57,191
Paltac Corp.		14,200		245,882
Paramount Bed Holdings Co. Ltd.		5,600		193,115
Prima Meat Packers Ltd.		66,900		179,815
Recruit Holdings Co Ltd.		97,300		3,071,770
Resona Holdings, Inc.		120,350		553,461
Ricoh Co. Ltd.^#		44,400		429,282
Rohm Co. Ltd.		500		22,723
Sankyo Co. Ltd.		700		26,771
Sankyu, Inc.		34,000		167,452
Santen Pharmaceutical Co. Ltd.		21,900		349,851
Sawai Pharmaceutical Co. Ltd.^#		3,500		242,719
SBI Holdings, Inc.		3,500		35,008


Description	Number of Shares		Value
SCSK Corp.^#		14,400	$	632,756
Sega Sammy Holdings, Inc.		2,000		18,847
Sekisui House Ltd.		9,600		151,113
Shimadzu Corp.		29,700		459,869
Shimamura Co. Ltd.^#		3,000		335,582
Shinko Electric Industries Co. Ltd.		32,700		200,173
Shinsei Bank Ltd.^#		18,000		28,133
Shizuoka Bank Y50		2,000		17,459
Showa Denko KK^#		19,000		20,819
Showa Shell Sekiyu KK		5,000		40,809
Sky Perfect JSAT Holdings, Inc.		41,200		233,778
SMC Corp.		5,787		1,310,657
Sumitomo Chemical Co. Ltd.		37,000		187,997
Sumitomo Corp.		28,507		284,162
Sumitomo Electric Industries Ltd.		15,600		205,545
Sumitomo Forestry Co. Ltd.		1,000		12,697
Sumitomo Heavy Industries Ltd.		8,000		31,672
Sumitomo Metal Mining Co. Ltd.		39,798		422,299
Sumitomo Mitsui Financial Group, Inc.		28,800		966,200
Sumitomo Mitsui Trust Holdings, Inc.		40,000		127,896
Sumitomo Rubber Industries Ltd.		2,800		35,537
T&D Holdings, Inc.		11,300		129,303
Takashimaya Co. Ltd.		5,000		42,824
Takeda Pharmaceutical Co. Ltd.		61,000		2,953,852
Takeuchi Manufacturing Co. Ltd.		14,800		231,216
TDK Corp.		2,700		148,309
TechnoPro Holdings, Inc.*		16,100		447,026
Teijin Ltd.		12,000		43,967
Temp Holdings Co. Ltd.^#		31,400		464,570
Thk Co. Ltd.^#		1,100		17,577
Toda Corp.		47,000		226,873
Toho Holdings Co. Ltd.		16,300		378,430
Tokai Rika Co. Ltd.		900		22,140
Tokio Marine Holdings, Inc.		63,205		2,261,452
Toppan Printing Co. Ltd.		6,000		52,211
Toshiba Corp.*		39,000		65,117
Tosoh Corp.		6,000		29,035
Toyo Seikan Kaisha Ltd.^#		1,900		34,476
Toyo Tire & Rubber Co. Ltd.		11,100		237,477
Toyoda Gosei Co. Ltd.		19,900		431,142
Toyota Boshoku Corp.		20,500		416,108
Toyota Tsusho Corp.		4,600		105,282
Trend Micro, Inc./Japan		11,400		479,582
Tsuruha Holdings, Inc.		3,500		290,447
Ube Industries Ltd.		15,000		29,215
Ulvac, Inc.*		15,300		389,769
UNY Group Holdings Co. Ltd.^#		6,000		38,440
W-Scope Corp.^#		5,700		192,747


Description	Number of Shares		Value
Yamada Denki Co. Ltd.^#		6,000	$	29,056
Yokohama Rubber Co. Ltd.		21,050		315,577

TOTAL JAPAN			$	71,537,132
KAZAKHSTAN – 0.0%**
Kazkommertsbank JSC GDR^#,*		18,110		16,207
Nostrum Oil & Gas PLC*		4,923		19,223

TOTAL KAZAKHSTAN			$	35,430
LITHUANIA – 0.0%**
Invalda Privatus Kapitalas AB*^,††		7,855		14,764
LUXEMBOURG – 0.0%**
Grand City Properties SA		8,100		167,818
MALAYSIA – 0.3%
Astro Malaysia Holdings Bhd		21,000		14,139
Axiata Group Bhd^††		21,500		29,110
British American Tobacco Malaysia Bhd		1,800		25,119
Bumi Armada Bhd		102,000		25,708
CIMB Group Holdings Bhd		15,000		15,050
Dialog Group Bhd		33,220		12,690
DiGi.Com Bhd		15,200		17,892
Gamuda Bhd		22,400		24,686
Genting Bhd		226,308		430,136
Genting Malaysia Bhd		28,700		30,978
Hong Leong Bank Bhd		6,400		20,215
IHH Healthcare Bhd		39,000		61,665
IJM Corp. Bhd		33,720		28,081
IOI Corp. Bhd		19,080		22,361
Kuala Lumpur Kepong Bhd		5,700		32,881
Malayan Banking Bhd		10,190		21,105
Maxis Bhd		10,900		15,056
Petronas Chemicals Group Bhd		38,400		66,663
Petronas Dagangan Bhd		5,500		33,840
Petronas Gas Bhd		3,200		17,709
PPB Group Bhd		8,100		32,442
Public Bank Bhd		4,800		21,300
RHB Capital Bhd		18,000		23,667
Sapurakencana Petroleum Bhd*		64,417		29,501
Sime Darby Bhd		14,246		27,695
Telekom Malaysia Bhd		22,900		35,947
Tenaga Nasional Bhd^††		15,925		52,245
Top Glove Corp. Bhd		22,600		29,563
UMW Holdings Bhd		7,100		12,028
WCT Holdings Bhd		42,020		16,755
YTL Corp. Bhd		57,476		21,641

TOTAL MALAYSIA			$	1,247,868
MALTA – 0.1%
Unibet Group PLC-SDR		23,200		262,591


Description	Number of Shares		Value
MEXICO – 0.4%
Alfa SAB de CV		45,700	$	85,138
America Movil SAB de CV		369,224		260,972
Cemex SAB de CV*		147,273		66,500
Coca-Cola Femsa SAB de CV		3,700		26,044
Compartamos SAB de CV		38,500		69,071
Fomento Economico Mexicano SAB de CV		10,900		103,365
Grupo Aeroportuario del Centro Norte SAB de CV		5,400		25,092
Grupo Aeroportuario del Pacifico SAB de CV		4,200		35,371
Grupo Aeroportuario del Sureste SAB de CV		2,300		31,474
Grupo Bimbo SAB de CV		9,200		25,691
Grupo Carso SAB de CV		5,400		21,835
Grupo Elektra SA de CV		1,460		27,482
Grupo Financiero Banorte SAB de CV		19,100		99,513
Grupo Financiero Inbursa SAB de CV		40,800		65,841
Grupo Mexico SAB de CV		43,921		85,189
Grupo Televisa SAB		32,000		169,459
Impulsora del Desarrollo y El Empleo en
America Latina SAB de CV*		16,695		19,900
Industrias CH SAB de CV*		7,500		22,019
Industrias Penoles SAB de CV		3,930		37,480
Kimberly-Clark de Mexico SAB de CV		10,300		24,583
Mexichem SAB de CV		11,505		23,723
Organizacion Soriana SAB de CV		10,800		23,163
Promotora y Operadora de Infraestructura
SAB de CV*		3,200		36,780
Telesites SAB de CV		18,461		11,196
TV Azteca SAB de CV		95,000		10,685
Walmart de Mexico SAB de CV		26,300		66,019

TOTAL MEXICO			$	1,473,585
NETHERLANDS – 2.0%
Aegon NV		54,961		310,802
ArcelorMittal^#		3,958		15,016
ArcelorMittal, NY Reg. Shares^#		20,624		78,784
Corbion NV*		10,900		242,316
Heineken NV*		29,232		2,538,265
ING Groep NV*		58,270		663,825
Koninklijke Ahold NV		20,700		468,224
Koninklijke Boskalis Westminster NV		2,360		92,968
Koninklijke DSM NV		3,833		185,792
Koninklijke Philips NV		13,084		349,081
Koninklijke Philips NV		6,300		167,766
NN Group NV		1,020		34,556
PostNL NV		37,000		134,645
TNT Express NV		1,322		11,278
USG People NV		159,152		2,970,243

TOTAL NETHERLANDS			$	8,263,561


Description	Number of Shares		Value
NEW ZEALAND – 0.0%**
Fletcher Building Ltd.		5,133	$	23,011
NIGERIA – 0.0%**
Ecobank Transnational, Inc.		327,197		24,147
Forte Oil PLC		18,204		27,345

TOTAL NIGERIA			$	51,492
NORWAY – 0.3%
DNB ASA		3,114		37,574
Norsk Hydro ASA		10,786		35,857
Salmar ASA		18,800		370,683
Statoil ASA		25,782		352,787
Storebrand ASA*		3,766		15,340
Subsea 7 SA		2,902		17,378
Yara International ASA		8,200		310,860

TOTAL NORWAY			$	1,140,479
OMAN – 0.0%**
Oman Oil Marketing Co.		7,300		37,948
PERU – 0.1%
Alicorp SA		24,133		35,460
Cia de Minas Buenaventura SA ADR		3,500		14,000
Credicorp Ltd.		1,110		112,392
Enersur SA		10,600		21,683
Ferreycorp SAA		60,958		21,426
Grana y Montero SA		15,912		7,335
Inretail Peru Corp.*		1,288		16,744
Intercorp Financial Services, Inc.		879		17,712
Luz del Sur SAA		6,400		15,028
Sociedad Minera Cerro Verde SAA*		1,400		19,600
Southern Copper Corp.^#		3,259		84,473

TOTAL PERU			$	365,853
PHILIPPINES – 0.2%
Aboitiz Equity Ventures, Inc.		19,020		23,386
Aboitiz Power Corp.		45,000		39,390
Alliance Global Group, Inc.		57,000		17,735
Ayala Corp.		1,830		26,206
Ayala Land, Inc.		48,200		31,986
Bank of the Philippine Islands		13,143		24,232
BDO Unibank, Inc.		10,662		22,933
Bloomberry Resorts Corp.*		158,600		13,709
D&L Industries, Inc.		93,200		15,908
Energy Development Corp.		215,400		24,932
First Gen Corp.		40,500		15,696
Globe Telecom, Inc.		745		29,274
GT Capital Holdings, Inc.		780		21,207
JG Summit Holdings, Inc.		21,150		29,859
Jollibee Foods Corp.		12,000		51,861


Description	Number of Shares		Value
LT Group, Inc.		54,700	$	18,287
Manila Electric Co.		4,580		29,868
Megaworld Corp.		163,000		12,297
Metro Pacific Investments Corp.		190,000		22,044
Metropolitan Bank & Trust		10,934		16,338
Philex Mining Corp.		106,450		9,119
Philippine Long Distance Telephone Co.		1,810		84,575
Puregold Price Club, Inc.		29,500		20,433
Robinsons Retail Holdings, Inc.		20,320		25,315
Semirara Mining And Power Co.		9,100		22,769
SM Investments Corp.		2,372		41,485
SM Prime Holdings, Inc.		81,100		36,276
Universal Robina Corp.		15,240		61,987

TOTAL PHILIPPINES			$	789,107
POLAND – 0.2%
AmRest Holdings SE*		437		19,870
Asseco Poland SA		3,456		47,677
Bank Pekao SA		1,247		41,956
Bank Zachodni WBK SA		330		21,163
BRE Bank SA		390		30,239
Budimex SA		730		34,400
CCC SA		597		17,506
Cyfrowy Polsat SA		6,760		35,695
Enea SA		4,101		11,830
Energa SA		2,700		8,975
Eurocash SA		3,343		45,257
Grupa Kety SA		385		26,217
Grupa Lotos SA*		2,600		16,345
ING Bank Slaski SA		630		16,864
KGHM Polska Miedz SA		2,954		41,817
Kruk SA		437		17,533
LPP SA		15		19,761
Netia SA		12,067		16,511
PGE SA		16,037		54,510
Polski Koncern Naftowy Orlen SA		3,404		52,204
Polskie Gornictwo Naftowe i Gazownictwo SA		19,528		24,924
Powszechna Kasa Oszczednosci Bank Polski SA		8,138		49,286
Powszechny Zaklad Ubezpieczen SA		5,300		42,230
Synthos SA		18,649		17,703
Tauron Polska Energia SA		26,391		17,575
Telekomunikacja Polska SA^#		18,342		29,185

TOTAL POLAND			$	757,233
PORTUGAL – 0.0%**
Banco Comercial Portugues SA^#		394,943		16,707


Description	Number of Shares		Value
Banco Espirito Santo SA*		15,937	$	—
EDP Renovaveis SA		5,470		42,500

TOTAL PORTUGAL			$	59,207
QATAR – 0.1%
Al Meera Consumer Goods Co.		304		15,655
Barwa Real Estate Co.		1,849		16,472
Commercial Bank of Qatar QSC		2,530		27,773
Gulf International Services QSC		1,269		14,912
Industries Qatar QSC		1,336		37,760
Masraf Al Rayan		2,896		26,976
Ooredoo QSC		2,600		56,515
Qatar Electricity & Water Co.		709		36,152
Qatar Gas Transport Co. Nakilat		3,565		20,447
Qatar Islamic Bank		675		15,863
Qatar National Bank SAQ		1,438		64,740
Qatar National Cement Co.		780		19,416
Qatar Navigation		783		18,472
Vodafone Qatar QSC		5,500		15,969

TOTAL QATAR			$	387,122
RUSSIA – 0.3%
CTC Media, Inc.		16,400		31,816
Gazprom OAO ADR		42,177		151,415
Globaltrans Investment PLC GDR		5,480		21,431
Lenta Ltd.-Reg S		2,046		12,098
LSR Group GDR		17,440		28,128
Lukoil PJSC ADR		3,200		109,317
Magnit OJSC GDR		3,826		150,157
Mail.Ru Group Ltd. GDR*		2,243		48,833
MegaFon OAO GDR		2,246		26,957
MMC Norilsk Nickel PJSC ADR		7,015		81,282
Mobile Telesystems OJSC ADR		9,500		66,500
NovaTek OAO GDR		662		57,532
Novolipetsk Steel OJSC GDR		7,200		62,595
OTCPharm PJSC*^,††		3,313		9,912
QIWI PLC ADR		1,600		20,656
Rosneft OAO GDR		9,620		34,567
Rostelecom OJSC ADR		6,038		40,160
RusHydro PJSC ADR		63,960		55,197
Sberbank of Russia ADR		29,890		165,889
Severstal OAO GDR		4,127		33,480
Sistema JSFC GDR		3,911		22,113
Surgutneftegas OAO ADR		13,980		73,908
Tatneft PAO-ADR		2,104		57,441
X5 Retail Group NV GDR*		1,945		35,966
Yandex NV*		4,600		61,732

TOTAL RUSSIA			$	1,459,082


Description	Number of Shares		Value
SINGAPORE – 0.3%
CapitaLand Ltd.		23,005	$	50,008
City Developments Ltd.		7,000		34,338
DBS Group Holdings Ltd.		48,000		477,184
Golden Agri-Resources Ltd.		126,000		33,006
Oversea-Chinese Banking Corp.		7,600		42,530
Sembcorp. Industries Ltd.		13,800		24,591
Singapore Airlines Ltd.		14,000		108,914
United Overseas Bank Ltd.		4,200		53,394
UOL Group Ltd.		4,000		15,847
Wilmar International Ltd.		162,400		328,348

TOTAL SINGAPORE			$	1,168,160
SOUTH AFRICA – 0.4%
African Bank Investments Ltd.		36,266		—
Anglo American Platinum Ltd.*		800		11,756
AngloGold Ashanti Ltd.		7,633		65,903
Aspen Pharmacare Holdings Ltd.		3,808		64,832
AVI Ltd.		5,800		29,101
Barclays Africa Group Ltd.		1,569		14,312
Barloworld Ltd.		3,014		13,504
Bidvest Group Ltd.		4,748		109,646
Discovery Ltd.		1,805		14,715
Eoh Holdings Ltd.		1,443		12,237
Exxaro Resources Ltd.		4,427		17,132
FirstRand Ltd.		8,478		24,051
Gold Fields Ltd.		15,890		54,528
Grindrod Ltd.^#		17,500		10,934
Impala Platinum Holdings Ltd.^#		7,674		16,032
Life Healthcare Group Holdings Ltd.		10,800		23,856
Mediclinic International Ltd.		6,144		46,719
MMI Holdings Ltd.		11,271		16,146
Mondi Ltd.		2,200		36,403
Mr Price Group Ltd.		1,281		13,220
MTN Group Ltd.		13,937		123,160
Murray & Roberts Holdings Ltd.*		26,380		13,179
Naspers Ltd.		802		101,351
Nedbank Group Ltd.		1,119		13,293
Netcare Ltd.		16,920		36,002
Pick n Pay Stores Ltd.		8,300		30,714
PPC Ltd.		10,921		9,055
Rand Merchant Investment Holdings Ltd.		6,261		15,646
Remgro Ltd.		1,196		18,966
Reunert Ltd.		3,450		13,956
RMB Holdings Ltd.		3,015		10,769
Sanlam Ltd.		4,426		16,298
Sasol Ltd.		7,091		186,540


Description	Number of Shares		Value
Shoprite Holdings Ltd.		4,160	$	38,413
Sibanye Gold Ltd.		14,690		32,698
SPAR Group Limited		3,100		35,848
Standard Bank Group Ltd.		3,178		22,627
Steinhoff International Holdings NV		8,131		39,373
Tiger Brands Ltd.		2,590		47,589
Vodacom Group Ltd.		4,706		43,177
Wilson Bayly Holmes-Ovcon Ltd.		2,700		18,285
Woolworths Holdings Ltd.		2,704		15,999

TOTAL SOUTH AFRICA			$	1,477,965
SOUTH KOREA – 0.4%
Amorepacific Corp.		147		50,105
Celltrion, Inc.		786		74,253
Daewoo Engineering & Construction Co. Ltd.*		4,364		20,287
E-Mart Co. Ltd.		260		35,700
Green Cross Corp.		148		26,790
Green Cross Holdings Corp.		622		25,191
GS Holdings		600		25,397
Hana Financial Group, Inc.		727		13,083
Hyundai Department Store Co. Ltd.		230		24,645
Hyundai Glovis Co. Ltd.		170		29,183
Hyundai Heavy Industries Co. Ltd.		297		23,092
Hyundai Mobis		188		40,843
Hyundai Motor Co.		471		52,814
Hyundai Steel Co.		690		28,362
KB Financial Group, Inc.		881		22,536
Kia Motors Corp.		755		28,666
Korea Electric Power Corp.		2,500		109,746
Korea Zinc Co. Ltd.		90		32,856
KT Corp.		1,531		35,299
KT&G Corp.		523		45,294
LG Chem Ltd.		196		49,045
LG Corp.		430		26,607
LG Electronics, Inc.		470		22,915
LG Household & Health Care Ltd.		50		41,681
Lotte Chemical Corp.		141		32,794
Medy-Tox, Inc.		62		26,926
NHN Corp.		36		18,982
POSCO		320		47,964
Samsung C&T Corp.		297		37,429
Samsung Card Co. Ltd.		1,000		31,866
Samsung Electronics Co. Ltd. GDR		114		110,290
Samsung Fire & Marine Insurance Co. Ltd.		88		21,967
Samsung Life Insurance Co. Ltd.		231		21,277
Samsung Sdi Co. Ltd. Krw5000 0640		230		18,197
Shinhan Financial Group Co. Ltd.		1,102		35,620


Description	Number of Shares		Value
SK Holdings Co. Ltd.		135	$	26,701
SK Hynix, Inc.*		669		15,441
SK Innovation Co. Ltd.		600		66,308
SK Telecom Co. Ltd.		385		67,533
S-Oil Corp.		240		15,801
ViroMed Co. Ltd.		202		33,059
Woori Investment & Securities Co. Ltd.		2,868		23,122
Yuhan Corp.		111		31,042

TOTAL SOUTH KOREA			$	1,566,709
SPAIN – 3.9%
Amadeus IT Holding SA		68,437		2,794,867
Banco Bilbao Vizcaya Argentaria SA^††		339,937		2,188,020
Banco de Sabadell SA		34,728		62,855
Banco Popular Espanol SA		24,196		65,376
Banco Popular Espanol-Interim Temp Line		157		422
Banco Santander SA^#		132,434		567,533
Cemex Latam Holdings SA		4,828		14,561
Gamesa Corp. Tecnologica SA*		150,133		2,805,759
Gas Natural SDG SA		16,400		322,161
Grifols SA		148,082		3,090,639
Iberdrola SA		516,225		3,628,661
Iberdrola SA		1,995		13,935
Mapfre SA		156,603		351,768
Repsol SA		31,218		323,682

TOTAL SPAIN			$	16,230,239
SWEDEN – 2.0%
Atlas Copco AB Class A		86,651		1,854,917
Boliden AB		17,911		249,189
Evolution Gaming Group AB		15,700		557,554
Hexpol AB		17,100		151,742
Investor AB		46,467		1,556,525
Meda AB		2,882		31,016
Mycronic AB^#		19,700		176,676
Nordea Bank AB		39,170		394,431
Sandvik AB		55,217		462,072
Securitas AB Class B		17,400		256,478
Skandinaviska Enskilda Banken AB		44,604		429,916
Svenska Cellulosa AB		10,084		298,866
Svenska Handelsbanken Class A		121		1,522
Swedbank AB		5,180		108,639
Swedish Orphan Biovitrum AB		40,000		506,294
Tele2 AB		3,497		29,079
Telefonaktiebolaget LM Ericsson Class B		29,697		263,783
TeliaSonera AB		112,702		532,290
Volvo AB		35,800		325,166

TOTAL SWEDEN			$	8,186,155


Description	Number of Shares		Value
SWITZERLAND – 8.6%
ABB Ltd.		24,986	$	431,758
Actelion Ltd.		21,441		2,825,486
Adecco SA		2,668		163,789
Aryzta AG		731		33,446
Baloise Holding AG		3,851		472,074
Bucher Industries AG		1,000		205,040
Cembra Money Bank AG		5,100		306,854
Cie Financiere Richemont SA		33,078		2,149,934
Clariant AG		6,591		107,627
Credit Suisse Group AG		43,083		763,231
Dufry AG		297		32,204
Galenica AG^#		122		170,457
Givaudan SA		1,686		3,157,346
Helvetia Holding AG		600		312,674
Holcim Ltd.		33,142		1,396,132
Julius Baer Group Ltd.*		1,070		45,418
Lafarge Malayan Cement Bhd		9,400		20,788
Nestle SA*		34,617		2,550,318
Novartis AG*		42,142		3,264,886
OC Oerlikon Corp. AG^#		18,100		161,544
Pargesa Holding SA		1,700		99,078
Rieter Holding AG		1,400		259,510
Roche Holding AG		24,889		6,446,856
Swatch Group AG^#		4,338		1,483,632
Swatch Group Ag/The		900		59,729
Swiss Life Holding AG		4,245		1,082,070
Swiss Re AG		10,779		1,003,377
Syngenta AG		4,559		1,678,693
Temenos Group AG*		8,800		427,737
U-Blox AG		1,628		328,381
UBS Group AG		186,073		3,074,888
Zurich Financial Services AG		4,692		1,040,054

TOTAL SWITZERLAND			$	35,555,011
TAIWAN – 0.4%
Advanced Semiconductor Engineering, Inc.		18,804		20,199
Asustek Computer, Inc.		2,700		21,889
AU Optronics Corp.		63,126		16,416
Catcher Technology Co. Ltd.		2,438		18,139
Cathay Financial Holding Co. Ltd.		21,479		23,458
Cheng Shin Rubber Industry Co. Ltd.		17,358		26,824
China Steel Corp.		59,232		31,663
Chunghwa Telecom Co. Ltd.		26,024		80,630
Compal Electronics, Inc.		30,736		17,899
CTBC Financial Holding Co. Ltd.		43,146		20,265
Delta Electronics, Inc.		5,144		21,773


Description	Number of Shares		Value
E.Sun Financial Holding Co. Ltd.		33,250	$	17,258
Eva Airways Corp.*		31,000		16,323
Far Eastern Department Stores Co. Ltd.		40,264		20,234
Far Eastern New Century Corp.		36,475		26,088
Far EasTone Telecommunications Co. Ltd.		11,000		22,735
First Financial Holding Co. Ltd.		41,858		19,106
Formosa Chemicals & Fibre Corp.		16,198		34,958
Formosa Petrochemical Corp.		11,990		29,676
Formosa Plastics Corp.		22,601		52,561
Fubon Financial Holding Co. Ltd.		18,314		20,221
Giant Manufacturing Co. Ltd.		3,000		19,810
Hiwin Technologies Corp.		7,000		25,850
Hon Hai Precision Industry Co. Ltd.		29,958		70,479
Hotai Motor Co. Ltd.		2,000		20,593
Hua Nan Financial Holdings Co. Ltd.		42,541		18,984
Lite-On Technology Corp.		18,573		19,761
MediaTek, Inc.		3,082		20,045
Mega Financial Holding Co. Ltd.		30,462		19,422
Nan Ya Plastics Corp.		25,597		44,793
Novatek Microelectronics Corp.		5,145		21,570
Pou Chen Corp.		26,157		32,741
President Chain Store Corp.		7,496		49,568
Quanta Computer, Inc.		16,571		26,413
Realtek Semiconductor Corp.		5,515		13,722
Siliconware Precision Industries Co.		15,000		23,229
SinoPac Financial Holdings Co. Ltd.		29,958		8,055
Tainan Spinning Co. Ltd.		70,805		28,930
Taiwan Cement Corp.		19,057		15,330
Taiwan Cooperative Financial Holding Co. Ltd.		48,334		20,094
Taiwan Mobile Co. Ltd.		12,874		38,735
Taiwan Semiconductor Manufacturing Co. Ltd.		41,911		180,466
Tatung Co. Ltd.*		116,916		18,283
Teco Electric & Machinery		50,000		39,251
TTY Biopharm Co. Ltd.		6,000		21,119
Tung Ho Steel Enterprise Corp.		37,476		18,990
Uni-President Enterprises Corp.		38,614		64,572
United Microelectronics Corp.		59,000		22,991
Walsin Lihwa Corp.*		120,000		25,788
Wistron Corp.		35,348		20,086
Yuanta Financial Holding Co. Ltd.		48,576		15,084
Yulon Motor Co. Ltd.		27,640		24,595

TOTAL TAIWAN			$	1,547,664
THAILAND – 0.2%
Advanced Info Service PCL		7,100		33,796
Airports of Thailand PCL		4,400		46,802
Bangkok Bank PCL		3,500		15,134


Description	Number of Shares		Value
Bangkok Dusit Med Service		89,000	$	35,657
Bangkok Expressway And Metro PLC		96,074		14,385
BEC World PCL		18,000		15,216
Berli Jucker PCL		12,400		11,669
Big C Supercenter PCL		2,700		16,979
BTS Group Holdings PCL		75,000		17,156
Bumrungrad Hospital PCL		7,100		43,971
Charoen Pokphand Foods PCL		34,200		18,822
CP ALL PCL		20,400		23,404
Electricity Generating PCL		8,600		40,218
Glow Energy PCL		9,100		19,616
Hana Microelectronics PCL		80,200		44,257
Indorama Ventures PCL		27,800		16,533
Intouch Holdings PCL Class F		9,300		14,685
IRPC PCL		136,600		16,425
Kasikornbank PCL		3,100		14,856
Krung Thai Bank PCL		29,250		14,348
Minor International PCL		32,200		30,643
PTT Exploration & Production PCL		12,009		19,468
PTT Global Chemical PCL		18,681		28,453
PTT PCL		4,800		32,123
Ratchaburi Electricity
Generating Holding PCL		19,500		27,242
Siam Cement PCL		2,950		35,697
Siam Commercial Bank PCL		4,200		15,422
Thai Beverage PCL		44,669		21,382
Thai Oil PCL		7,200		13,068
TMB Bank PCL		272,000		19,787
Total Access Communication PCL		9,500		8,985
True Corp. PCL		75,225		15,087

TOTAL THAILAND			$	741,286
TURKEY – 0.2%
Akbank TAS		18,056		44,125
Akenerji Elektrik Uretim AS*		1		—
Anadolu Efes Biracilik Ve Malt Sanayii AS		4,363		27,053
Arcelik AS		7,125		37,221
Aygaz AS		6,800		23,248
BIM Birlesik Magazalar AS		3,654		61,842
Enka Insaat ve Sanayi AS		11,299		16,823
Eregli Demir ve Celik Fabrikalari TAS		49,990		52,476
Ford Otomotiv Sanayi AS		2,640		28,913
Haci Omer Sabanci Holding AS		9,353		27,165
Kardemir Karabuk Demir Celik Sanayi ve Ticaret AS*		49,273		18,258
KOC Holding AS		7,937		31,856
Koza Altin Isletmeleri AS		2,800		11,928
Petkim Petrokimya Holding AS*		24,777		29,282
Tekfen Holding AS		18,500		24,179


Description	Number of Shares		Value
Tofas Turk Otomobil Fabrikasi AS		4,425	$	30,601
Tupras Turkiye Petrol Rafinerileri AS		3,036		77,174
Turk Hava Yollari		6,597		16,382
Turk Telekomunikasyon AS		14,990		27,459
Turkcell Iletisim Hizmetleri AS*		16,233		57,905
Turkiye Garanti Bankasi AS		21,273		53,759
Turkiye Halk Bankasi AS		5,652		19,563
Turkiye Is Bankasi		13,285		20,862
Turkiye Vakiflar Bankasi Tao		12,640		16,201
Ulker Biskuvi Sanayi AS		2,822		18,056
Yapi ve Kredi Bankasi AS		18,065		22,773

TOTAL TURKEY			$	795,104
UNITED ARAB EMIRATES – 0.1%
Abu Dhabi Commercial Bank PJSC		17,059		28,238
Abu Dhabi National Hotels		32,000		21,782
Air Arabia PJSC		52,120		16,399
Aldar Properties PJSC		73,140		43,838
Arabtec Holding Co.*^,††		50,342		16,400
Dana Gas PJSC^††		197,244		24,020
DP World Ltd.		3,596		63,472
Dubai Financial Market		56,800		17,760
Emaar Properties PJSC		35,499		47,800
First Gulf Bank PJSC		12,315		33,740
National Bank of Abu Dhabi PJSC		13,958		28,289
Ras Al Khaimah Ceramics		21,048		16,958
Union National Bank PJSC		19,982		18,516

TOTAL UNITED ARAB EMIRATES			$	377,212
UNITED KINGDOM – 12.2%
3i Group PLC		262,334		1,663,274
Admiral Group PLC		28,100		713,964
Anglo American PLC^#		39,167		156,227
AstraZeneca PLC		4,500		289,759
Auto Trader Group PLC*		75,300		422,710
Aviva PLC		25,700		177,248
BAE Systems PLC		110,400		816,506
Barclays PLC		86,500		231,464
Barclays PLC ADR		29,061		313,278
Barratt Developments PLC		42,827		367,360
Beazley PLC		53,300		286,589
Berkeley Group Holdings PLC		20,700		1,046,527
Betfair Group PLC		11,100		695,005
BP PLC		120,500		650,730
BP PLC ADR		51,634		1,671,393
BT Group PLC		51,900		361,205
Carnival PLC ADR^#		1,057		53,199
Centrica PLC		127,600		374,394
Chemring Group PLC		46,900		112,371


Description	Number of Shares		Value
Computacenter PLC		14,558	$	171,690
Crest Nicholson Holdings PLC		23,000		188,085
Dairy Crest Group PLC		13,000		121,286
Debenhams PLC		148,800		167,072
Diageo PLC		104,955		2,825,565
Direct Line Insurance Group PLC		42,350		227,484
Domino’s Pizza Group PLC		15,100		212,421
DS Smith PLC*		6,600		34,533
Galliford Try PLC		7,500		159,402
GlaxoSmithKline PLC		20,500		422,312
Glencore Xstrata PLC^#		362,058		466,802
Howden Joinery Group PLC		49,900		357,422
HSBC Bank PLC		35,370		33,940
HSBC Holdings PLC		80,746		569,466
HSBC Holdings PLC ADR		35,154		1,244,452
Indivior PLC		129,702		280,785
Inmarsat PLC		29,000		456,592
Investec PLC		3,817		24,284
ITC Ltd. GDR		21,798		102,015
ITV PLC		734,678		2,808,596
J Sainsbury PLC^#		112,057		393,444
JD Sports Fashion PLC^#		29,100		475,563
Kingfisher PLC		33,261		155,649
Kuwait Finance House		15,900		24,860
Lloyds Banking Group PLC ADR^#		6,785		25,851
Lloyds Banking Group PLC		2,722,079		2,550,217
London Stock Exchange Group PLC		82,596		2,924,689
Meggitt PLC		19,700		102,460
Micro Focus International PLC		25,700		509,047
Mitie Group PLC		30,500		123,221
Mondi PLC		7,900		128,794
Old Mutual PLC		105,300		256,898
Optimal Payments PLC		69,900		402,732
Premier Foods PLC*		201,280		107,169
Reckitt Benckiser Group PLC		53,465		4,755,259
Redrow PLC		28,700		182,401
Rexam PLC		55,647		477,130
Rightmove PLC*		8,300		473,589
Rolls-Royce Holdings*		28,630,332		40,796
Rolls-Royce Holdings PLC		237,360		1,888,105
Royal Bank of Scotland Group PLC*		18,888		68,380
Royal Bank of Scotland Group PLC ADR^#,*		3,638		26,812
Royal Dutch Shell PLC		6,165		134,678
Royal Dutch Shell PLC ADR^#		40,639		1,789,353
Royal Dutch Shell PLC Class B		35,900		782,191
Royal Mail PLC		6,833		44,923
Shire PLC		46,396		2,602,457
Smiths Group PLC		12,100		163,704


Description	Number of Shares		Value
Sophos Group PLC		33,100	$	114,435
Standard Chartered PLC		280,218		1,890,361
Tate & Lyle PLC		10,000		89,607
Vesuvius PLC		33,100		143,133
Vodafone Group PLC		1,273,354		4,093,029
Vodafone Group PLC ADR		16,593		534,295
WM Morrison Supermarkets PLC^#		113,863		284,817

TOTAL UNITED KINGDOM			$	50,037,456
UNITED STATES – 3.0%
Freeport-McMoRan Copper & Gold, Inc.^#		68,877		316,834
King Digital Entertainment PLC		165,052		2,959,382
Las Vegas Sands Corp.		85,695		3,864,845
Schlumberger Ltd.		40,746		2,944,713
Wynn Resorts Ltd.^#		34,296		2,309,493

TOTAL UNITED STATES			$	12,395,267

TOTAL COMMON STOCKS (COST $376,455,753)			$	363,075,367
INVESTMENT COMPANIES – 7.1%
DFA International Small Cap Value Portfolio		307		5,315
iShares Currency Hedged MSCI^#		555,500		13,659,745
WisdomTree Japan Hedged Equity		325,000		15,457,000

TOTAL INVESTMENT COMPANIES (COST $29,836,189)			$	29,122,060
PREFERRED STOCKS – 0.2%
BRAZIL – 0.1%
Alpargatas SA 2.82%		10,197		18,585
Banco Bradesco SA 0.87%		12,054		54,698
Braskem SA 2.31%		3,300		19,801
Cia Energetica de Minas Gerais 7.09%		12,676		18,730
Cia Energetica de Sao Paulo 18.70%		2,700		8,904
Gerdau SA 1.62%		13,300		11,971
Itau Unibanco Holding SA 0.62%		6,486		40,458
Itausa - Investimentos Itau SA 0.77%		12,510		21,518
Lojas Americanas SA 0.27%		7,127		33,213
Petroleo Brasileiro SA, 1.00%		88,659		107,283
Telefonica Brasil SA 0.51%		14,710		127,836
Usinas Siderurgicas de Minas Gerais SA 1.79%*		19,100		4,059
Vale SA 7.74%		37,441		67,772

TOTAL BRAZIL			$	534,828
CHILE – 0.0%**
Embotelladora Andina SA 2.46%		5,300		15,024
Sociedad Quimica y Minera de Chile SA 2.85%		2,440		38,980

TOTAL CHILE			$	54,004


Description	Number of Shares		Value
COLOMBIA – 0.0%**
Avianca Holdings SA 11.92%		23,964	$	11,644
Grupo Aval Acciones y Valores 5.65%		56,400		18,127
Grupo de Inv Suramericana 1.42%		3,598		37,816

TOTAL COLOMBIA			$	67,587
GERMANY – 0.1%
Bayerische Motoren Werke AG 3.90%		335		23,066
Porsche Automobil Holding SE 4.08%		1,094		49,615
Volkswagen AG 3.69%		2,028		236,163

TOTAL GERMANY			$	308,844
PHILIPPINES – 0.0%**
Ayala Land Voting 1.23%^††		178,200		374

TOTAL PREFERRED STOCKS (COST $1,920,538)			$	965,637
MONEY MARKET FUND – 3.8%
Dreyfus Cash Management Fund, Institutional Shares, 0.28%^{^}		15,791,632		15,791,632

TOTAL MONEY MARKET FUND (COST $15,791,632)			$	15,791,632
RIGHTS – 0.0%**
BRAZIL – 0.0%**
Banco Bradesco S.A-Rts*		208		47
TUNISIA – 0.0%**
Societe D’Articles Hygieniques*		2,800		820

TOTAL RIGHTS (COST $0)			$	867
CALL WARRANTS – 0.1%
Citigroup Global Markets -
Boubyan Petrochemicals Co., Expire 3/24/16*		77,079		110,268
Mobile Telecommunications Co., Expire 3/24/16*		154,604		190,444

TOTAL CALL WARRANTS (COST $456,681)			$	300,712
CERTIFICATES – 0.0%**
HSBC Bank PLC -
Aditya Birla Nuvo Ltd., Expire 6/30/16		880		11,323
Asian Paints Ltd., Expire 3/10/16		1,985		25,439
HDFC Bank Limited, Expire 3/10/16		1,970		30,470
NTPC Ltd., Expire 3/10/16		15,781		33,119
Sultan, Expire 7/20/18		57,830		11,421

TOTAL CERTIFICATES (COST $136,261)			$	111,772
REAL ESTATE INVESTMENT TRUSTS – 0.8%
FRANCE – 0.8%
Unibail-Rodamco SE		12,753		3,214,526


Description	Number of Shares		Value
NIGERIA – 0.0%**
Afriland Properties PLC*^,††		24,606	$	—

TOTAL REAL ESTATE INVESTMENT TRUSTS (COST $2,999,232)			$	3,214,526

TOTAL INVESTMENTS IN SECURITIES – 100.3% (COST $427,596,286)			$	412,582,573

	Par Value
CASH COLLATERAL INVESTED FOR SECURITIES ON LOAN – 6.7%
REPURCHASE AGREEMENTS – 6.7%
Citigroup Global Markets, Inc., 0.34%, dated 1/29/16, due 2/01/16, repurchase price $5,211,114, collateralized by U.S. Government & Treasury Securities 0.00% to 9.50%, maturing 3/20/16 to 3/20/62; total market value of $5,315,185.	$	5,210,966	$	5,210,966
Daiwa Capital Markets America, 0.38%,dated 1/29/16, due 2/01/16, repurchase price $5,211,131, collateralized by U.S. Government & Treasury Securities 0.00% to 7.25%, maturing 3/23/16 to 2/01/49; total market value of $5,315,185.		5,210,966		5,210,966
HSBC Securities USA, Inc., 0.30%, dated 1/29/16, due 2/01/16, repurchase price $327,269, collateralized by U.S. Government Securities 0.00% to 7.25%, maturing 2/22/16 to 1/15/37; total market value of $333,808.		327,261		327,261
HSBC Securities USA, Inc., 0.31%, dated 1/29/16, due 2/01/16, repurchase price $4,375,244, collateralized by U.S. Government Securities 2.50% to 6.00%, maturing 1/01/28 to 1/01/46; total market value of $4,462,649.		4,375,131		4,375,131
ING Financial Markets LLC, 0.32%, dated 1/29/16, due 2/01/16, repurchase price $1,879,759, collateralized by U.S. Government Securities 1.70% to 6.26%, maturing 1/01/19 to 8/01/46; total market value of $1,917,312.		1,879,709		1,879,709
Mizuho Securities USA, Inc., 0.35%, dated 1/29/16, due 2/01/16, repurchase price $5,211,118, collateralized by U.S. Government Securities 0.00% to 9.50%, maturing 10/01/19 to 7/01/43; total market value of $5,315,185.		5,210,966		5,210,966
TD Securities (USA) LLC, 0.35%, dated 1/29/16, due 2/01/16, repurchase price $5,211,118, collateralized by U.S. Government Securities 2.50% to 4.00%, maturing 9/01/26 9/01/45; total market value of $5,315,186.		5,210,966		5,210,966

TOTAL CASH COLLATERAL INVESTED FOR SECURITIES ON LOAN (COST $27,425,965)			$	27,425,965

Cost of investments for Federal income tax purposes is $459,664,276. The net unrealized appreciation/(depreciation) of investments was ($19,655,738). This consists of net unrealized appreciation from investment for those securities having an excess of value over cost of $34,945,713 and net unrealized depreciation from investments for those securities having an excess of cost over value of $54,601,451.

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

Level 2 – other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.)

Level 3 – significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments)

The following is a summary of the inputs used as of January 31, 2016 in valuing the Fund’s assets carried at fair value:

At January 31, 2016, the Wilmington Multi-Manager International Fund had the following outstanding foreign exchange contracts:


Description	Number of Shares		Value
COMMON STOCKS – 36.2%
CONSUMER DISCRETIONARY – 7.9%
AUTO COMPONENTS – 0.2%
Magna International, Inc.		8,700	$	302,255
DIVERSIFIED CONSUMER SERVICES – 0.0%**
Service Corp. International		2,500		60,475
HOTELS, RESTAURANTS & LEISURE – 1.0%
Chipotle Mexican Grill, Inc.*^,^Ö		316		143,138
Flight Centre Travel Group Ltd.		13,027		364,055
Norwegian Cruise Line Holdings Ltd.*		18,788		852,412
Shangri-La Asia Ltd.		160,000		149,054

TOTAL HOTELS, RESTAURANTS & LEISURE			$	1,508,659
HOUSEHOLD DURABLES – 0.3%
Iida Group Holdings Co., Ltd.		9,900		176,486
Persimmon PLC		9,087		265,154

TOTAL HOUSEHOLD DURABLES			$	441,640
INTERNET & CATALOG RETAIL – 0.7%
Amazon.com, Inc.*^,Ö		1,924		1,129,388
Expedia, Inc.^Ö		36		3,637
Liberty Interactive Corp., QVC Group*^,Ö		578		15,063

TOTAL INTERNET & CATALOG RETAIL			$	1,148,088
LEISURE PRODUCTS – 0.6%
Mattel, Inc.		34,266		945,399
MULTILINE RETAIL – 1.9%
Dollar General Corp.		24,791		1,860,813
Kohl’s Corp.		21,000		1,044,750

TOTAL MULTILINE RETAIL			$	2,905,563
SPECIALTY RETAIL – 3.2%
AutoZone, Inc.*		2,020		1,550,128
Dick’s Sporting Goods, Inc.^Ö		9,239		361,060
Foot Locker, Inc.^Ö		4,779		322,869
GameStop Corp.^Ö		4,386		114,957
Lowe’s Cos., Inc.		27,727		1,986,917
Sally Beauty Holdings, Inc.*		27,250		751,010

TOTAL SPECIALTY RETAIL			$	5,086,941

TOTAL CONSUMER DISCRETIONARY			$	12,399,020


Description	Number of Shares		Value
CONSUMER STAPLES – 1.8%
FOOD PRODUCTS – 1.6%
Archer-Daniels-Midland Co.^Ö		9,586	$	338,865
Campbell Soup Co.^Ö		2,601		146,722
Kraft Heinz Co. (The)		25,400		1,982,724

TOTAL FOOD PRODUCTS			$	2,468,311
PERSONAL PRODUCTS – 0.2%
Kose Corp.		3,300		306,734

TOTAL CONSUMER STAPLES			$	2,775,045
ENERGY – 2.3%
OIL, GAS & CONSUMABLE FUELS – 2.3%
Antero Resources Corp.*^,Ö		10,794		293,273
Devon Energy Corp.^Ö		688		19,195
Idemitsu Kosan Co., Ltd.		3,900		58,495
Inpex Corp.		2,900		25,820
Pioneer Natural Resources Co.		12,210		1,513,430
Plains GP Holdings LP, Class A^Ö		13,351		106,808
Range Resources Corp.		15,000		443,400
Southwestern Energy Co.*^,Ö		1,654		14,704
TonenGeneral Sekiyu K.K.		72,000		586,960
Valero Energy Corp.^Ö		3,292		223,428
Woodside Petroleum Ltd.		15,900		320,454

TOTAL OIL, GAS & CONSUMABLE FUELS			$	3,605,967

TOTAL ENERGY			$	3,605,967
FINANCIALS – 3.2%
BANKS – 1.3%
CIT Group, Inc.^Ö		48,286		1,417,194
Citizens Financial Group, Inc.^Ö		1,840		39,100
Intesa Sanpaolo		139,388		370,623
People’s United Financial, Inc.^Ö		4,300		61,791
Signature Bank*^,Ö		629		87,645

TOTAL BANKS			$	1,976,353
CONSUMER FINANCE – 0.2%
Synchrony Financial*^,Ö		11,522		327,455
DIVERSIFIED FINANCIAL SERVICES – 0.0%**
First Pacific Co., Ltd.		58,000		39,993
INSURANCE – 0.6%
Intact Financial Corp.		9,600		575,630
Sompo Japan Nipponkoa Holdings, Inc.		11,900		352,916

TOTAL INSURANCE			$	928,546


Description	Number of Shares		Value
REAL ESTATE INVESTMENT TRUSTS – 0.7%
Extra Space Storage, Inc.		12,500	$	1,133,625
REAL ESTATE MANAGEMENT & DEVELOPMENT – 0.4%
Kerry Properties Ltd.		182,000		421,223
Sino Land Co. Ltd.		82,000		105,347
Swire Pacific Ltd.		16,500		159,172

TOTAL REAL ESTATE MANAGEMENT & DEVELOPMENT			$	685,742

TOTAL FINANCIALS			$	5,091,714
HEALTH CARE – 8.0%
BIOTECHNOLOGY – 1.7%
ACADIA Pharmaceuticals, Inc.*		2,725		56,380
Acceleron Pharma, Inc.*		2,994		91,916
Alkermes PLC*		1,072		34,315
Amicus Therapeutics, Inc.*^,Ö		6,000		36,240
Biogen, Inc.*		1,538		419,966
Cara Therapeutics, Inc.*		8,814		79,326
Celgene Corp.*^,Ö		3,735		374,695
EPIRUS Biopharmaceuticals, Inc.*		13,211		42,672
FibroGen, Inc.*		9,498		192,619
Gilead Sciences, Inc.		4,670		387,610
Minerva Neurosciences, Inc.*^,Ö		10,000		52,000
Ophthotech Corp.*		1,519		82,315
Otonomy, Inc.*^,Ö		4,632		69,109
Portola Pharmaceuticals, Inc.*		3,000		99,090
ProQR Therapeutics NV		11,300		59,551
Radius Health, Inc.*		1,851		59,288
Sage Therapeutics, Inc.*		7,142		239,828
Sarepta Therapeutics, Inc.*		4,410		52,391
United Therapeutics Corp.*^,Ö		1,697		209,036

TOTAL BIOTECHNOLOGY			$	2,638,347
HEALTH CARE EQUIPMENT & SUPPLIES – 2.4%
ABIOMED, Inc.*		2,619		223,479
Boston Scientific Corp.*		22,671		397,423
Edwards Lifesciences Corp.*^,Ö		5,612		438,914
K2M Group Holdings, Inc.*		6,924		98,390
LDR Holding Corp.*^,Ö		33,050		607,128
Medtronic PLC^Ö		9,379		712,054
Neovasc, Inc.		39,487		135,046
Nevro Corp.*		3,388		209,345
NuVasive, Inc.*^,Ö		6,257		288,573
STERIS PLC^Ö		7,481		517,984
Zeltiq Aesthetics, Inc.*		3,490		81,038

TOTAL HEALTH CARE EQUIPMENT & SUPPLIES			$	3,709,374
HEALTH CARE PROVIDERS & SERVICES – 1.6%
Aetna, Inc.^Ö		3,200		325,888


Description	Number of Shares		Value
Amedisys, Inc.*		2,415	$	86,336
AmerisourceBergen Corp.^Ö		3,850		344,806
Amsurg Corp.*		1,914		140,086
Centene Corp.*^,Ö		3,879		240,730
Community Health Systems, Inc.*		10,826		232,542
HCA Holdings, Inc.*^,Ö		5,902		410,661
Surgical Care Affiliates, Inc.^Ö		4,149		177,038
Tenet Healthcare Corp.*		9,150		248,148
UnitedHealth Group, Inc.^Ö		2,481		285,712

TOTAL HEALTH CARE PROVIDERS & SERVICES			$	2,491,947
HEALTH CARE TECHNOLOGY – 0.2%
athenahealth, Inc.*		2,347		332,805
LIFE SCIENCES TOOLS & SERVICES – 0.2%
Fluidigm Corp.*^,Ö		8,590		57,639
Thermo Fisher Scientific, Inc.		1,896		250,386

TOTAL LIFE SCIENCES TOOLS & SERVICES			$	308,025
PHARMACEUTICALS – 1.9%
Akorn, Inc.*		10,000		259,900
Allergan PLC*		1,051		298,936
Bristol-Myers Squibb Co.		965		59,984
Cempra, Inc.*		3,482		59,995
Endocyte, Inc.*		23,233		77,831
Horizon Pharma PLC*^,Ö		19,972		349,510
Johnson & Johnson^Ö		5,040		526,378
Pfizer, Inc.^Ö		29,800		908,602
Taro Pharmaceutical Industries Ltd.*^,Ö		1,996		291,017
Teva Pharmaceutical Industries Ltd. ADR^Ö		3,758		231,042

TOTAL PHARMACEUTICALS			$	3,063,195

TOTAL HEALTH CARE			$	12,543,693
INDUSTRIALS – 3.2%
AEROSPACE & DEFENSE – 0.5%
Northrop Grumman Corp.^Ö		2,732		505,584
TransDigm Group, Inc.*^,Ö		1,112		249,900

TOTAL AEROSPACE & DEFENSE			$	755,484
AIRLINES – 0.6%
International Consolidated Airlines Group SA		48,415		373,657
Japan Airlines Co. Ltd.		13,000		487,934
Qantas Airways Ltd.*		34,676		96,427

TOTAL AIRLINES			$	958,018
BUILDING PRODUCTS – 0.2%
Masco Corp.^Ö		13,615		359,300
INDUSTRIAL CONGLOMERATES – 0.7%
Danaher Corp.		3,413		295,736


Description	Number of Shares		Value
General Electric Co.^Ö		21,130	$	614,883
NWS Holdings Ltd.		117,000		174,442

TOTAL INDUSTRIAL CONGLOMERATES			$	1,085,061
MACHINERY – 0.3%
Wabtec Corp.^Ö		5,721		365,858
Yangzijiang Shipbuilding Holdings Ltd.		185,300		122,088

TOTAL MACHINERY			$	487,946
PROFESSIONAL SERVICES – 0.5%
Adecco SA		7,029		431,511
ManpowerGroup, Inc.^Ö		4,567		348,690

TOTAL PROFESSIONAL SERVICES			$	780,201
ROAD & RAIL – 0.2%
AMERCO^Ö		919		336,951
TRADING COMPANIES & DISTRIBUTORS – 0.2%
AerCap Holdings NV^Ö		6,977		214,264

TOTAL INDUSTRIALS			$	4,977,225
INFORMATION TECHNOLOGY – 7.9%
COMMUNICATIONS EQUIPMENT – 0.3%
Cisco Systems, Inc.^Ö		18,825		447,847
ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS – 0.5%
Avnet, Inc.^Ö		6,988		278,961
CDW Corp.^Ö		2,594		99,739
Flextronics International Ltd.^Ö		36,947		387,205

TOTAL ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS			$	765,905
INTERNET SOFTWARE & SERVICES – 3.5%
Akamai Technologies, Inc.*^,Ö		5,932		270,618
Alphabet, Inc., Class C*^,Ö		2,817		2,092,890
eBay, Inc.*^,Ö		14,598		342,469
Facebook, Inc., Class A*^,Ö		22,440		2,517,992
Mixi, Inc.		8,300		265,935

TOTAL INTERNET SOFTWARE & SERVICES			$	5,489,904
IT SERVICES – 0.5%
CGI Group, Inc.*		7,500		321,436
Obic Co. Ltd.		3,200		165,760
Total System Services, Inc.^Ö		8,172		328,187

TOTAL IT SERVICES			$	815,383
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT – 0.5%
Analog Devices, Inc.^Ö		6,303		339,480
Avago Technologies Ltd.^Ö		90		12,034
Maxim Integrated Products, Inc.^Ö		7,563		252,604


Description	Number of Shares		Value
Skyworks Solutions, Inc.^Ö		3,461	$	238,532

TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT			$	842,650
SOFTWARE – 2.4%
Activision Blizzard, Inc.^Ö		5,669		197,395
CA, Inc.^Ö		806		23,156
CDK Global, Inc.^Ö		44,709		1,969,432
Constellation Software, Inc.		800		291,241
Electronic Arts, Inc.*^,Ö		4,869		314,270
Fortinet, Inc.*^,Ö		8,805		247,773
Intuit, Inc.^Ö		1,574		150,333
Nintendo Co. Ltd.		2,600		364,556
VMware, Inc., Class A*^,Ö		2,481		113,506

TOTAL SOFTWARE			$	3,671,662
TECHNOLOGY HARDWARE, STORAGE & PERIPHERALS – 0.2%
HP, Inc.^Ö		30,536		296,505
Western Digital Corp.^Ö		80		3,838

TOTAL TECHNOLOGY HARDWARE, STORAGE & PERIPHERALS			$	300,343

TOTAL INFORMATION TECHNOLOGY			$	12,333,694
MATERIALS – 1.2%
CHEMICALS – 0.3%
Evonik Industries AG		1,394		43,036
LyondellBasell Industries NV, Class A^Ö		2,092		163,113
Mosaic Co.^Ö		10,728		258,545

TOTAL CHEMICALS			$	464,694
CONSTRUCTION MATERIALS – 0.7%
Fletcher Building Ltd.		1,134		5,084
James Hardie Industries PLC		1,647		19,085
Vulcan Materials Co.^Ö		12,534		1,105,499

TOTAL CONSTRUCTION MATERIALS			$	1,129,668
CONTAINERS & PACKAGING – 0.2%
CCL Industries, Inc.		2,000		281,962

TOTAL MATERIALS			$	1,876,324
TELECOMMUNICATION SERVICES – 0.7%
WIRELESS TELECOMMUNICATION SERVICES – 0.7%
KDDI Corp.		17,700		448,210
NTT DOCOMO, Inc.		26,700		592,159

TOTAL WIRELESS TELECOMMUNICATION SERVICES			$	1,040,369

TOTAL TELECOMMUNICATION SERVICES			$	1,040,369

TOTAL COMMON STOCKS (COST $59,638,580)			$	56,643,051


Description	Number of Shares		Value
INVESTMENT COMPANIES – 7.0%
ALTERNATIVE INVESTMENT FUNDS – 2.2%
Arbitrage Fund, Class I		261,476	$	3,383,503
DEBT FUND – 2.8%
Professionally Managed Portfolios – The Osterweis Strategic Income Fund, Class I		424,644		4,437,527
EQUITY FUND – 2.0%
Boston Partners Long/Short Research Fund		212,311		3,038,165

TOTAL INVESTMENT COMPANIES (COST $11,615,102)			$	10,859,195

	Par Value
CORPORATE BONDS – 19.7%
CONSUMER DISCRETIONARY – 5.5%
HOTELS, RESTAURANTS & LEISURE – 1.1%
Boyd Gaming Corp., Company Guaranteed, 6.88%, 5/15/23*	$	1,750,000	$	1,785,000
MEDIA – 4.4%
Altice Luxembourg SA, Company Guaranteed, 7.63%, 2/15/25^W		2,500,000		2,231,250
Cablevision Systems Corp., Sr. Unsecured, 7.75%, 4/15/18		2,000,000		2,040,000
Univision Communications, Inc., Company Guaranteed, 8.50%, 5/15/21^W		2,550,000		2,543,625

TOTAL MEDIA			$	6,814,875

TOTAL CONSUMER DISCRETIONARY			$	8,599,875
CONSUMER STAPLES – 2.7%
FOOD – 1.6%
Albertson’s Holdings LLC/Safeway, Inc., Sr. Secured, 7.75%, 10/15/22^W		2,376,000		2,491,830
FOOD & STAPLES RETAILING – 1.1%
Rite Aid Corp., Company Guaranteed, 6.13%, 4/01/23^W		1,620,000		1,713,150

TOTAL CONSUMER STAPLES			$	4,204,980
DIVERSIFIED – 1.3%
HOLDING COMPANIES-DIVERSIFIED – 1.3%
Argos Merger Sub, Inc., Sr. Unsecured, 7.13%, 3/15/23^W		2,000,000		2,022,500
HEALTH CARE – 3.1%
HEALTH CARE EQUIPMENT & SUPPLIES – 2.1%
DJO Finco Inc / DJO Finance LLC / DJO Finance Corp., 8.13%, 6/15/21^W		2,350,000		1,997,500


Description	Par Value		Value
Kinetics Concepts, Inc./KCI USA, Inc., Multiple Guarantors, 12.50%, 11/01/19	$	1,450,000	$	1,312,250

TOTAL HEALTH CARE EQUIPMENT & SUPPLIES			$	3,309,750
PHARMACEUTICALS – 1.0%
Concordia Healthcare Corp., Sr. Unsecured, 7.00%, 4/15/23^W		1,750,000		1,535,625

TOTAL HEALTH CARE			$	4,845,375
INDUSTRIALS – 4.2%
ENVIRONMENTAL CONTROL – 1.2%
Advanced Disposal/Services, Inc., Company Guaranteed, 8.25%, 10/01/20		2,000,000		1,860,000
MACHINERY – 0.2%
BlueLine Rental Finance Corp., Secured, 7.00%, 2/01/19^W		400,000		314,000
TRADING COMPANIES & DISTRIBUTORS – 2.8%
HD Supply, Inc., Company Guaranteed, 11.50%, 7/15/20		2,150,000		2,381,125
United Rentals North America, Inc., Company Guaranteed, 7.38%, 5/15/20		2,000,000		2,067,500

TOTAL TRADING COMPANIES & DISTRIBUTORS			$	4,448,625

TOTAL INDUSTRIALS			$	6,622,625
INFORMATION TECHNOLOGY – 1.0%
IT SERVICES – 1.0%
First Data Corp., Sr. Unsecured, 7.00%, 12/01/23^W		1,500,000		1,518,750
TELECOMMUNICATION SERVICES – 1.9%
DIVERSIFIED TELECOMMUNICATION SERVICES – 0.7%
Intelsat Jackson Holdings SA, Company Guaranteed, 7.25%, 4/01/19		1,200,000		1,095,000
WIRELESS TELECOMMUNICATION SERVICES – 1.2%
Wind Acquisition Finance SA, Company Guaranteed, 7.38%, 4/23/21^W		2,000,000		1,911,240

TOTAL TELECOMMUNICATION SERVICES			$	3,006,240

TOTAL CORPORATE BONDS (COST $32,510,108)			$	30,820,345


Description	Par Value		Value
U.S. GOVERNMENT OBLIGATION – 8.0%
U.S. TREASURY BILL – 8.0%
0.20%, 2/04/16^Ö,¿	$	12,500,000	$	12,499,750

TOTAL U.S. GOVERNMENT OBLIGATIONS (COST $12,499,812)			$	12,499,750

Description	Number of Shares
MONEY MARKET FUND – 24.7%
Dreyfus Cash Management Fund, Institutional Shares, 0.28%^{^,Ö}		38,586,422	$	38,586,422

TOTAL MONEY MARKET FUND (COST $38,586,422)			$	38,586,422

	Contracts
PURCHASED OPTIONS – 0.0%**
CALL OPTIONS – 0.0%**
S&P 500 Index, Strike Price $2,000.00, Expiring 2/17/2016		18	$	9,744
S&P 500 Index, Strike Price $2,045.00, Expiring 2/16/2016		18		1,512
S&P 500 Index, Strike Price $2,050.00, Expiring 2/12/2016		17		697
S&P 500 Index, Strike Price $2,060.00, Expiring 2/22/2016		18		1,635
S&P 500 Index, Strike Price $2,065.00, Expiring 2/19/2016		17		680
S&P 500 Index, Strike Price $2,070.00, Expiring 2/24/2016		18		1,446
S&P 500 Index, Strike Price $2,070.00, Expiring 2/26/2016		17		680
S&P 500 Index, Strike Price $2,095.00, Expiring 2/08/2016		17		17
S&P 500 Index, Strike Price $2,100.00, Expiring 2/10/2016		18		26
S&P 500 Index, Strike Price $2,125.00, Expiring 2/05/2016		17		85
S&P 500 Index, Strike Price $2,150.00, Expiring 2/03/2016		17		2
S&P 500 Index, Strike Price $2,165.00, Expiring 2/01/2016		17		—
Sarepta Therapeutics, Inc., Strike Price $30.00, Expiring 2/19/2016		152		4,560

TOTAL CALL OPTIONS			$	21,084
PUT OPTIONS – 0.0%**
Google U.S., Strike Price $660.00, Expiring 2/19/2016		17		9,010


Description	Contracts			Value
S&P 500 Index, Strike Price $1,575.00, Expiring 2/17/2016		18		$	546
S&P 500 Index, Strike Price $1,610.00, Expiring 2/12/2016		17			510
S&P 500 Index, Strike Price $1,630.00, Expiring 2/16/2016		18			911
S&P 500 Index, Strike Price $1,665.00, Expiring 2/22/2016		18			2,379
S&P 500 Index, Strike Price $1,670.00, Expiring 2/19/2016		17			1,802
S&P 500 Index, Strike Price $1,680.00, Expiring 2/08/2016		17			266
S&P 500 Index, Strike Price $1,680.00, Expiring 2/24/2016		18			3,358
S&P 500 Index, Strike Price $1,700.00, Expiring 2/26/2016		17			6,120
S&P 500 Index, Strike Price $1,705.00, Expiring 2/10/2016		18			702
S&P 500 Index, Strike Price $1,715.00, Expiring 2/05/2016		17			425
S&P 500 Index, Strike Price $1,760.00, Expiring 2/01/2016		17			13
S&P 500 Index, Strike Price $1,770.00, Expiring 2/03/2016		17			221
SPDR S&P 500 ETF Trust, Strike Price $184.00, Expiring 2/19/2016		75			6,750

TOTAL PUT OPTIONS				$	33,013

TOTAL PURCHASED OPTIONS (COST $284,209)				$	54,097

TOTAL INVESTMENTS IN SECURITIES BEFORE SECURITIES SOLD SHORT AND WRITTEN OPTIONS – 95.6%^ø (COST $155,134,233)				$	149,462,860

	Number of Shares
SECURITIES SOLD SHORT – (16.5%)
CONSUMER DISCRETIONARY – (1.3%)
AUTOMOBILES – (0.1%)
Tesla Motors, Inc.*		(1,146	)	$	(219,115	)
HOTELS, RESTAURANTS & LEISURE – (0.3%)
Royal Caribbean Cruises Ltd.		(5,797	)		(475,122	)
HOUSEHOLD DURABLES – (0.1%)
Tempur Sealy International, Inc., Class I*		(2,560	)		(154,470	)
INTERNET & CATALOG RETAIL – (0.2%)
Netflix, Inc.*		(3,000	)		(275,520	)
LEISURE PRODUCTS – 0.0%
Polaris Industries, Inc.		(680	)		(50,211	)
MULTILINE RETAIL – (0.3%)
Dollar Tree, Inc.*		(3,600	)		(292,752	)


Description	Number of Shares			Value
Don Quijote Holdings Co., Ltd.		(6,600	)	$	(223,509	)

TOTAL MULTILINE RETAIL				$	(516,261	)
SPECIALTY RETAIL – (0.3%)
Advance Auto Parts, Inc.		(2,770	)		(421,179	)

TOTAL CONSUMER DISCRETIONARY				$	(2,111,878	)
CONSUMER STAPLES – (0.5%)
FOOD & STAPLES RETAILING – (0.1%)
Whole Foods Market, Inc.		(7,250	)		(212,498	)
FOOD PRODUCTS – (0.2%)
Flowers Foods, Inc.		(11,750	)		(241,345	)
HOUSEHOLD PRODUCTS – (0.2%)
Energizer Holdings, Inc.		(7,840	)		(251,194	)

TOTAL CONSUMER STAPLES				$	(705,037	)
ENERGY – (1.8%)
ENERGY EQUIPMENT & SERVICES – (0.5%)
Halliburton Co.		(7,283	)		(231,527	)
National Oilwell Varco, Inc.		(4,813	)		(156,615	)
Tenaris SA		(31,094	)		(322,004	)

TOTAL ENERGY EQUIPMENT & SERVICES				$	(710,146	)
OIL, GAS & CONSUMABLE FUELS – (1.3%)
Cabot Oil & Gas Corp.		(616	)		(12,782	)
Cenovus Energy, Inc.		(2,400	)		(29,570	)
Cheniere Energy, Inc.*		(5,518	)		(165,816	)
Cimarex Energy Co.		(1,495	)		(139,035	)
Continental Resources, Inc.*		(8,598	)		(181,504	)
Crescent Point Energy Corp.		(5,700	)		(63,189	)
EOG Resources, Inc.		(4,318	)		(306,664	)
Hess Corp.		(5,327	)		(226,398	)
Lundin Petroleum AB*		(24,791	)		(356,435	)
Noble Energy, Inc.		(7,274	)		(235,459	)
Occidental Petroleum Corp.		(4,775	)		(328,663	)
Whiting Petroleum Corp.*		(7,649	)		(56,220	)

TOTAL OIL, GAS & CONSUMABLE FUELS				$	(2,101,735	)

TOTAL ENERGY				$	(2,811,881	)
FINANCIALS – (2.7%)
BANKS – (1.0%)
Banca Monte dei Paschi di Siena SpA*		(324,977	)		(235,885	)
Bank Of The Ozarks, Inc.		(2,225	)		(98,657	)
Citigroup, Inc.		(4,366	)		(185,904	)
PacWest Bancorp		(7,766	)		(285,090	)
Raiffeisen Bank International AG*		(5,159	)		(65,072	)


Description	Number of Shares			Value
Royal Bank Of Scotland Group PLC*		(97,850	)	$	(354,244	)
UniCredit SpA		(71,062	)		(274,712	)

TOTAL BANKS				$	(1,499,564	)
CAPITAL MARKETS – (0.3%)
Deutsche Bank AG		(1,581	)		(28,333	)
ETRADE Financial Corp.		(722	)		(17,010	)
Interactive Brokers Group, Inc.		(2,550	)		(82,289	)
Morgan Stanley		(13,114	)		(339,390	)

TOTAL CAPITAL MARKETS				$	(467,022	)
CONSUMER FINANCE – (0.2%)
Acom Co., Ltd*		(61,800	)		(280,829	)
REAL ESTATE INVESTMENT TRUSTS – (0.7%)
Alexandria Real Estate Equities, Inc.		(2,000	)		(158,360	)
American Tower Corp.		(5,222	)		(492,643	)
Sabra Health Care REIT, Inc.		(3,840	)		(70,502	)
Ventas, Inc.		(3,400	)		(188,088	)
Welltower, Inc.		(3,000	)		(186,660	)

TOTAL REAL ESTATE INVESTMENT TRUSTS				$	(1,096,253	)
REAL ESTATE MANAGEMENT & DEVELOPMENT – (0.5%)
Hulic Co., Ltd.		(16,300	)		(140,551	)
Mitsubishi Estate Co., Ltd.		(7,000	)		(138,577	)
NTT Urban Development Corp.		(45,200	)		(443,766	)
Tokyo Tatemono Co., Ltd.		(8,300	)		(89,294	)

TOTAL REAL ESTATE MANAGEMENT & DEVELOPMENT				$	(812,188	)

TOTAL FINANCIALS				$	(4,155,856	)
HEALTH CARE – (4.1%)
BIOTECHNOLOGY – (1.7%)
Acorda Therapeutics, Inc.*		(6,000	)		(220,920	)
Aegerion Pharmaceuticals, Inc.*		(1,251	)		(8,857	)
Agios Pharmaceuticals, Inc.*		(2,862	)		(120,834	)
Alkermes PLC*		(2,461	)		(78,777	)
Alnylam Pharmaceuticals, Inc.*		(3,869	)		(266,729	)
Amgen, Inc.		(400	)		(61,092	)
Anacor Pharmaceuticals, Inc.*		(888	)		(66,715	)
Axovant Sciences Ltd.*		(13,959	)		(222,367	)
BioCryst Pharmaceuticals, Inc.*		(3,892	)		(27,127	)
BioMarin Pharmaceutical, Inc.*		(1,946	)		(144,043	)
Cepheid*		(7,117	)		(209,596	)
Esperion Therapeutics, Inc.*		(761	)		(11,324	)
Galapagos NV*		(1,193	)		(59,448	)
Genomic Health, Inc.*		(5,839	)		(168,163	)
Halozyme Therapeutics, Inc.*		(7,993	)		(70,338	)
ImmunoGen, Inc.*		(14,535	)		(123,402	)
Incyte Corp.*		(453	)		(31,964	)


Description	Number of Shares			Value
Insys Therapeutics, Inc.*		(3,840	)	$	(66,624	)
Intrexon Corp.*		(5,248	)		(152,927	)
Juno Therapeutics, Inc.*		(3,759	)		(103,673	)
Kite Pharma, Inc.*		(1,389	)		(65,964	)
NantKwest, Inc.*		(5,335	)		(54,951	)
Natera, Inc.*		(5,242	)		(44,819	)
Puma Biotechnology, Inc.*		(1,340	)		(55,932	)
Seattle Genetics, Inc.*		(778	)		(25,658	)
Spark Therapeutics, Inc.*		(4,567	)		(128,652	)
Vertex Pharmaceuticals, Inc.*		(1,839	)		(166,889	)

TOTAL BIOTECHNOLOGY				$	(2,757,785	)
HEALTH CARE EQUIPMENT & SUPPLIES – (0.4%)
Glaukos Corp.*		(6,551	)		(106,912	)
Neogen Corp.*		(3,500	)		(182,630	)
Stryker Corp.		(1,294	)		(128,300	)
Teleflex, Inc.		(1,864	)		(252,926	)

TOTAL HEALTH CARE EQUIPMENT & SUPPLIES				$	(670,768	)
HEALTH CARE PROVIDERS & SERVICES – (0.8%)
Acadia Healthcare Co., Inc.*		(4,267	)		(260,415	)
Adeptus Health, Inc., Class A*		(4,341	)		(204,808	)
Chemed Corp.		(1,205	)		(169,086	)
Cigna Corp.		(1,536	)		(205,210	)
Express Scripts Holding Co.*		(2,906	)		(208,854	)
Genesis Healthcare, Inc.*		(2,921	)		(5,258	)
Select Medical Holdings Corp.		(16,034	)		(152,804	)

TOTAL HEALTH CARE PROVIDERS & SERVICES				$	(1,206,435	)
LIFE SCIENCES TOOLS & SERVICES – (0.8%)
Albany Molecular Research, Inc.*		(3,300	)		(53,856	)
Illumina, Inc.*		(4,489	)		(709,038	)
Luminex Corp.*		(11,160	)		(214,160	)
Quintiles Transnational Holdings, Inc.*		(3,575	)		(217,467	)

TOTAL LIFE SCIENCES TOOLS & SERVICES				$	(1,194,521	)
PHARMACEUTICALS – (0.4%)
Jazz Pharmaceuticals PLC*		(1,920	)		(247,181	)
Medicines Co. (The)*		(3,792	)		(131,052	)
Zoetis, Inc.		(6,357	)		(273,669	)

TOTAL PHARMACEUTICALS				$	(651,902	)

TOTAL HEALTH CARE				$	(6,481,411	)
INDUSTRIALS – (1.1%)
AEROSPACE & DEFENSE – (0.2%)
United Technologies Corp.		(2,700	)		(236,763	)
AIR FREIGHT & LOGISTICS – (0.1%)
Expeditors International of Washington, Inc.		(4,940	)		(222,893	)


Description	Number of Shares			Value
AIRLINES – (0.1%)
Southwest Airlines Co.		(5,529	)	$	(208,001	)
ELECTRICAL EQUIPMENT – (0.2%)
Sensata Technologies Holding NV*		(6,270	)		(230,109	)
MARINE – (0.2%)
Mitsui OSK Lines Ltd.		(194,000	)		(384,399	)
PROFESSIONAL SERVICES – (0.1%)
Advisory Board Co. (The)*		(1,631	)		(74,651	)
TRADING COMPANIES & DISTRIBUTORS – (0.1%)
United Rentals, Inc.*		(4,319	)		(206,923	)
TRANSPORTATION INFRASTRUCTURE – (0.1%)
Transurban Group		(19,022	)		(146,653	)

TOTAL INDUSTRIALS				$	(1,710,392	)
INFORMATION TECHNOLOGY – (0.6%)
ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS – (0.1%)
Corning, Inc.		(10,570	)		(196,708	)
INTERNET SOFTWARE & SERVICES – (0.1%)
GrubHub, Inc.*		(7,500	)		(141,375	)
IT SERVICES – (0.2%)
Cognizant Technology Solutions Corp.*		(4,230	)		(267,801	)
WEX, Inc.*		(1,800	)		(130,698	)

TOTAL IT SERVICES				$	(398,499	)
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT – (0.1%)
Micron Technology, Inc.*		(14,930	)		(164,678	)
SOFTWARE – (0.1%)
Qualys, Inc.*		(3,500	)		(90,965	)

TOTAL INFORMATION TECHNOLOGY				$	(992,225	)
INVESTMENT COMPANIES – (2.9%)
EQUITY FUNDS – (2.9%)
Consumer Discretionary Select Sector SPDR Fund		(7,404	)		(548,710	)
SPDR S&P 500 ETF Trust, Series T		(5,880	)		(1,139,956	)
SPDR S&P 500 Oil & Gas Exploration & Production, ETF		(17,742	)		(505,470	)
SPDR S&P 500 Retail ETF		(25,500	)		(1,046,520	)
Technology Select Sector SPDR Fund		(30,470	)		(1,256,583	)

TOTAL EQUITY FUNDS				$	(4,497,239	)

TOTAL INVESTMENT COMPANIES				$	(4,497,239	)
MATERIALS – (1.2%)
CONSTRUCTION MATERIALS – (0.2%)
Martin Marietta Materials, Inc.		(2,677	)		(336,178	)
METALS & MINING – (1.0%)
Alcoa, Inc.		(28,687	)		(209,128	)
Freeport-McMoRan, Inc.		(29,735	)		(136,781	)
Fresnillo PLC		(13,631	)		(141,094	)


Description	Number of Shares			Value
Goldcorp, Inc.		(9,000	)	$	(102,534	)
Norsk Hydro ASA		(93,299	)		(310,165	)
Silver Wheaton Corp.		(18,700	)		(220,385	)
Teck Resources Ltd., Class B		(6,700	)		(25,013	)
Thyssenkrupp AG		(21,731	)		(335,769	)

TOTAL METALS & MINING				$	(1,480,869	)

TOTAL MATERIALS				$	(1,817,047	)
TELECOMMUNICATION SERVICES – (0.3%)
DIVERSIFIED TELECOMMUNICATION SERVICES – (0.3%)
Iliad SA		(401	)		(100,554	)
Level 3 Communications, Inc.*		(6,645	)		(324,342	)

TOTAL DIVERSIFIED TELECOMMUNICATION SERVICES				$	(424,896	)

TOTAL TELECOMMUNICATION SERVICES				$	(424,896	)

TOTAL SECURITIES SOLD SHORT (PROCEEDS $27,996,777)				$	(25,707,862	)

Description	Contracts			Value
WRITTEN OPTIONS – (0.2%)
CALL OPTIONS – (0.2%)
S&P 500 Index, Strike Price $1,910.00, Expiring 2/17/2016		(18	)	$	(83,752	)
S&P 500 Index, Strike Price $1,955.00, Expiring 2/16/2016		(18	)		(35,588	)
S&P 500 Index, Strike Price $1,960.00, Expiring 2/12/2016		(17	)		(25,007	)
S&P 500 Index, Strike Price $1,965.00, Expiring 2/22/2016		(18	)		(34,341	)
S&P 500 Index, Strike Price $1,970.00, Expiring 2/19/2016		(17	)		(25,500	)
S&P 500 Index, Strike Price $1,975.00, Expiring 2/24/2016		(18	)		(29,664	)
S&P 500 Index, Strike Price $1,975.00, Expiring 2/26/2016		(17	)		(17,680	)
S&P 500 Index, Strike Price $2,000.00, Expiring 2/08/2016		(17	)		(3,564	)
S&P 500 Index, Strike Price $2,005.00, Expiring 2/10/2016		(18	)		(4,359	)
S&P 500 Index, Strike Price $2,030.00, Expiring 2/05/2016		(17	)		(425	)
S&P 500 Index, Strike Price $2,055.00, Expiring 2/03/2016		(17	)		(46	)



Description	Contracts			Value
S&P 500 Index, Strike Price $2,065.00, Expiring 2/01/2016		(17	)	$	(2	)
Sarepta Therapeutics, Inc., Strike Price $40.00, Expiring 2/19/2016		(95	)		(713	)

TOTAL CALL OPTIONS				$	(260,641	)
PUT OPTIONS – 0.0%**
S&P 500 Index, Strike Price $1,665.00, Expiring 2/17/2016		(18	)		(1,439	)
S&P 500 Index, Strike Price $1,700.00, Expiring 2/12/2016		(17	)		(935	)
S&P 500 Index, Strike Price $1,720.00, Expiring 2/16/2016		(18	)		(2,227	)
S&P 500 Index, Strike Price $1,760.00, Expiring 2/22/2016		(18	)		(6,591	)
S&P 500 Index, Strike Price $1,765.00, Expiring 2/19/2016		(17	)		(5,185	)
S&P 500 Index, Strike Price $1,775.00, Expiring 2/08/2016		(17	)		(1,191	)
S&P 500 Index, Strike Price $1,775.00, Expiring 2/24/2016		(18	)		(9,691	)
S&P 500 Index, Strike Price $1,795.00, Expiring 2/26/2016		(17	)		(18,190	)
S&P 500 Index, Strike Price $1,800.00, Expiring 2/10/2016		(18	)		(2,799	)
S&P 500 Index, Strike Price $1,810.00, Expiring 2/05/2016		(17	)		(1,020	)
S&P 500 Index, Strike Price $1,860.00, Expiring 2/01/2016		(17	)		(580	)
S&P 500 Index, Strike Price $1,865.00, Expiring 2/03/2016		(17	)		(2,567	)

TOTAL PUT OPTIONS				$	(52,415	)

TOTAL WRITTEN OPTIONS (PREMIUMS RECEIVED $500,915)				$	(313,056	)


Description				Value
TOTAL INVESTMENTS NET OF SECURITIES SOLD SHORT AND WRITTEN OPTIONS – 78.9%				$	123,441,942
OTHER ASSETS LESS LIABILITIES – 21.1%					32,958,973

TOTAL NET ASSETS – 100.0%				$	156,400,915

Cost of investments for Federal income tax purposes is $155,155,217. The net unrealized appreciation/(depreciation) of investments was ($5,692,357). This consists of net unrealized appreciation from investment for those securities having an excess of value over cost of $1,607,259 and net unrealized depreciation from investments for those securities having an excess of cost over value of $7,299,616.

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

Level 2 – other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.)

Level 3 – significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments)

The following is a summary of the inputs used as of January 31, 2016 in valuing the Fund’s assets carried at fair value:

At January 31, 2016, the Wilmington Multi-Manager Alternatives Fund had open financial futures contracts as follows:


Description	Par Value		Value
INFLATION-LINKED & FIXED INCOME SECURITIES – 64.2%
ASSET-BACKED SECURITIES – 1.5%
COLLATERALIZED LOAN OBLIGATION – 0.5%
CIFC Funding 2011-I Ltd., Series 2011-1AR, Class A1R, 1.92%, 1/19/23^D,Ώ	$	400,812	$	400,612
Doral CLO II Ltd., Series 2012-2A, Class A1R, 1.66%, 5/26/23^D,Ώ		837,538		836,449
Symphony CLO VIII LP, Series 2012-8AR, Class AR, 1.72%, 1/09/23^D,Ώ		486,015		483,518
Venture VII CDO Ltd., Series 2006-7A, Class A1A, 0.85%, 1/20/22^D,Ώ		263,763		259,093

TOTAL COLLATERALIZED LOAN OBLIGATION			$	1,979,672
DIVERSIFIED FINANCIAL SERVICES – 0.3%
Ameriquest Mortgage Securities Trust, Series 2006-R1, Class M1, 0.82%, 3/25/36^D		300,000		262,231
Bear Stearns Asset Backed Securities I Trust, Series 2005-TC1, Class M2, 1.08%, 5/25/35^D		545,623		451,305
Bear Stearns Asset Backed Securities Trust, Series 2005-1, Class M2, 2.53%, 3/25/35^D		500,000		464,971
Countrywide Asset-Backed Certificates, Series 2006-6, Class 2A2, 0.61%, 9/25/36^D		150,360		148,514

TOTAL DIVERSIFIED FINANCIAL SERVICES			$	1,327,021
WHOLE LOAN – 0.7%
Citigroup Mortgage Loan Trust, Inc., Series 2006-WFH2, Class A3, 0.65%, 8/25/36^D		1,200,000		1,041,790
Credit-Based Asset Servicing and Securitization LLC, Series 2005-CB2, Class M2, 1.37%, 4/25/36^D		241,321		207,778
JP Morgan Mortgage Acquisition Trust 2006-NC1, Series 2006-NC1, Class A4, 0.59%, 4/25/36^D		916,497		907,404


Description	Par Value			Value
Nomura Home Equity Loan, Inc. Home Equity Loan Trust Series 2006-WF1, Series 2006-WF1, Class M2, 0.72%, 3/25/36^D	$	200,000		$	149,550
Saxon Asset Securities Trust, Series 2005-1, Class M2, 1.14%, 5/25/35^D		208,458			148,967

TOTAL WHOLE LOAN				$	2,455,489

TOTAL ASSET-BACKED SECURITIES (COST $5,725,889)				$	5,762,182
CORPORATE BONDS – 6.4%
COMPUTERS – 0.1%
Hewlett Packard Enterprise Co., Sr. Unsecured, 2.85%, 10/05/18^Ώ		250,000			251,093
HP Enterprise Co., Sr. Unsecured, 2.45%, 10/05/17^Ώ		250,000			250,532

TOTAL COMPUTERS				$	501,625
ENERGY – 0.1%
Petrobras Global Finance BV, Company Guaranteed, 3.41%, 3/17/20^D		100,000			69,750
Sabine Pass LNG LP, Sr. Secured, 7.50%, 11/30/16		400,000			414,000

TOTAL ENERGY				$	483,750
FINANCIALS – 5.1%
Ally Financial, Inc., Company Guaranteed, 5.50%, 2/15/17		569,000			581,091
Bank of America Corp., Sr. Unsecured,
4.10%, 7/24/23		300,000			309,667
4.06%, 10/21/25^D		12,000,000	^MXN		703,615
4.13%, 1/22/24		800,000			824,425
Barclays Bank PLC, Sr. Unsecured, GMTN,
2.01%, 12/21/20		7,500,000	^MXN		403,165
7.63%, 11/21/22		2,400,000			2,686,627
BPCE SA, Subordinated, 4.63%, 7/11/24^Ώ		700,000			680,988
CIT Group, Inc., Sr. Unsecured, 4.25%, 8/15/17		594,000			604,395
Citigroup, Inc., Sr. Unsecured, 2.65%, 10/26/20		200,000			199,647
Credit Suisse Group Funding Guernsey Ltd., Company Guaranteed,
3.75%, 3/26/25		1,000,000			974,293
3.80%, 9/15/22		250,000			253,268
4.88%, 5/15/45		1,000,000			990,563


Description	Par Value		Value
Eksportfinans ASA, Sr. Unsecured, 5.50%, 6/26/17	$	1,000,000	$	1,043,300
Ford Motor Credit Co., LLC, Sr. Unsecured, 6.63%, 8/15/17		900,000		956,568
Goldman Sachs Group, Inc. (The), Sr. Unsecured,
1.71%, 9/15/20^D		800,000		796,851
3.50%, 1/23/25		900,000		889,109
3.75%, 5/22/25		1,200,000		1,207,523
Intesa Sanpaolo SpA, Sr. Unsecured, 6.50%, 2/24/21^Ώ		300,000		340,671
JPMorgan Chase & Co., Sr. Unsecured, 3.90%, 7/15/45		800,000		824,940
KBC Bank NV, Subordinated, 8.00%, 1/25/23^D		1,800,000		1,954,575
Lloyds Bank PLC, Company Guaranteed,
1.75%, 5/14/25		400,000		400,316
3.50%, 5/14/25		100,000		101,892
Novo Banco SA, Sr. Unsecured,
5.00%, 4/23/19		150,000		129,170
7.00%, 3/04/16		100,000		106,132
UBS Group Funding Jersey Ltd, Company Guaranteed, 2.95%, 9/24/20^Ώ		1,000,000		996,372

TOTAL FINANCIALS			$	18,959,163
MEDIA – 0.4%
CCO Safari II LLC, Sr. Secured, 4.46%, 7/23/22^Ώ		1,000,000		1,004,147
Univision Communications, Inc., Sr. Secured, 5.13%, 2/15/25^Ώ		500,000		475,000

TOTAL MEDIA			$	1,479,147
OIL & GAS – 0.0%**
Chesapeake Energy Corp., Company Guaranteed, 3.87%, 4/15/19^D		400,000		110,000
PHARMACEUTICALS – 0.4%
AbbVie, Inc., Sr. Unsecured,
1.80%, 5/14/18		500,000		499,231
2.50%, 5/14/20		200,000		198,713
3.20%, 11/06/22		100,000		100,060
3.60%, 5/14/25		200,000		200,003
Actavis Funding SCS, Company Guaranteed,
3.45%, 3/15/22		100,000		101,620
3.80%, 3/15/25		300,000		304,948

TOTAL PHARMACEUTICALS			$	1,404,575
TELECOMMUNICATIONS – 0.1%
BellSouth Corp., Company Guaranteed, 4.82%, 4/26/16^Ώ		500,000		505,625


Description	Par Value			Value
UTILITIES – 0.2%
Dynegy, Inc., Company Guaranteed, 6.75%, 11/01/19	$	600,000		$	582,750

TOTAL CORPORATE BONDS
(COST $24,790,198)				$	24,026,635
FOREIGN GOVERNMENT INFLATION-LINKED SECURITIES – 23.0%
GOVERNMENT – 23.0%
Brazil Notas do Tesouro Nacional Series B,
6.00%, 5/15/35		300,000	^BRL		183,477
6.00%, 5/15/45		1,508,000	^BRL		896,391
6.00%, 8/15/50		2,632,000	^BRL		1,587,821
Bundesrepublik Deutschland Bundesob- ligation Inflation Linked Bond, 0.75%, 4/15/18		1,660,000	^EUR		1,965,617
Canadian Government Bond, 1.25%, 12/01/47		2,061,860	^CAD		1,728,142
Colombian Tesoreria, 3.00%, 3/25/33		607,442,220	^COP		152,708
Denmark Inflation Linked Government Bond, 0.10%, 11/15/23		29,093,960	^DKK		4,385,396
France Government Bond OAT,
0.10%, 7/25/21		3,350,000	^EUR		3,842,443
0.25%, 7/25/18		1,900,000	^EUR		2,206,354
0.25%, 7/25/24		1,650,000	^EUR		1,935,417
1.10%, 7/25/22		400,000	^EUR		526,184
1.80%, 7/25/40		1,351,147	^EUR		2,054,017
2.10%, 7/25/23		350,000	^EUR		501,296
Italy Buoni Poliennali Del Tesoro,
2.55%, 9/15/41		1,683,734	^EUR		2,292,159
3.10%, 9/15/26		1,400,000	^EUR		2,003,460
2.35%, 9/15/24^Ώ		2,570,000	^EUR		3,224,238
Japanese Government CPI Linked Bond, Sr. Unsecured,
0.10%, 9/10/24		230,000,000	^JPY		1,987,197
0.10%, 3/10/25		360,720,000	^JPY		3,109,167
Mexican Udibonos, 4.50%, 11/22/35		52,070,653	^MXN		3,202,501
New Zealand Government Bond, Sr. Unsecured,
2.00%, 9/20/25		4,950,000	^NZD		3,313,190
3.00%, 9/20/30		625,000	^NZD		456,347
Spain Government Inflation Linked Bond, Sr. Unsecured, 1.00%, 11/30/30^Ώ		200,000	^EUR		212,561
Sweden Inflation Linked Bond, 1.00%, 6/01/25		3,100,000	^SEK		419,850
U.K. Gilt Inflation Linked,
0.13%, 3/22/26		5,533,000	^GBP		8,709,273
0.13%, 3/22/44		3,804,322	^GBP		7,139,907
0.63%, 3/22/40		359,949	^GBP		720,883


Description	Par Value			Value
0.63%, 11/22/42		1,357,253	^GBP	$	2,824,412
0.75%, 3/22/34		2,013,624	^GBP		3,771,686
0.75%, 11/22/47		1,075,335	^GBP		2,461,580
1.13%, 11/22/37		834,958	^GBP		1,768,556
0.13%, 3/22/29		1,291,180	^GBP		2,086,456
0.13%, 3/22/46		292,250	^GBP		557,803
0.13%, 3/22/58		2,395,990	^GBP		5,309,320
0.13%, 3/22/24		5,272,567	^GBP		8,184,800

TOTAL GOVERNMENT				$	85,720,609

TOTAL FOREIGN GOVERNMENT INFLATION-LINKED SECURITIES (COST $89,261,250)				$	85,720,609
FOREIGN GOVERNMENT SECURITIES – 6.6%
GOVERNMENT – 6.6%
Athens Urban Transportation Organisation, Government Guaranteed, 4.85%, 9/19/16		100,000	^EUR		98,580
Autonomous Community of Catalonia, Sr. Unsecured, 4.75%, 6/04/18		100,000	^EUR		113,779
Brazil Letras do Tesouro Nacional,
14.27%, 1/01/17^‡		16,300,000	^BRL		3,605,500
14.37%, 10/01/16^‡		4,800,000	^BRL		1,097,290
14.79%, 1/01/18^‡		2,180,000	^BRL		418,361
15.30%, 1/01/19^‡		2,900,000	^BRL		478,517
Brazil Notas do Tesouro Nacional Series B, 6.00%, 8/15/40		1,900,000	^BRL		1,171,274
Brazil Notas do Tesouro Nacional Series F,
10.00%, 1/01/23		8,330,000	^BRL		1,629,715
10.00%, 1/01/25		17,120,000	^BRL		3,180,995
Corp. Andina de Fomento, 11U, Unsecured, 3.95%, 10/15/21		4,489,782	^MXN		247,021
Credit Agricole SA, Subordinated, 8.13%, 9/19/33^D	$	900,000			982,916
Hellenic Republic Government International Bond, Sr. Unsecured, 4.50%, 7/03/17		30,000,000	^JPY		215,587
Italy Buoni Poliennali Del Tesoro, Sr. Unsecured, 1.25%, 9/15/32^Ώ		700,000	^EUR		780,999
Mexican Bonos de Proteccion al Ahorro, 3.52%, 4/01/18^D		15,500,000	^MXN		855,231
Mexican Udibonos, 4.50%, 12/04/25		22,918,444	^MXN		1,404,300
Slovenia Government Bond, Sr. Unsecured, 3.00%, 4/08/21		1,000,000	^EUR		1,215,890
South Africa Government Bond,
8.00%, 1/31/30		22,500,000	^ZAR		1,250,264
7.25%, 1/15/20		15,475,000	^ZAR		927,930
Thailand Government Bond, Sr. Unsecured, 1.25%, 3/12/28		38,870,410	^THB		956,425
Turkey Government Bond,
2.00%, 9/18/24		995,313	^TRY		317,560


Description	Par Value			Value
4.00%, 4/01/20		9,979,315	^TRY	$	3,555,359

TOTAL GOVERNMENT				$	24,503,493

TOTAL FOREIGN GOVERNMENT SECURITIES (COST $32,941,623)				$	24,503,493
MORTGAGE-BACKED SECURITIES –0.7%
WHOLE LOAN – 0.7%
Alternative Loan Trust, Series 2004-18BC, Class 4A1, 5.50%, 9/25/34		468,342			479,728
BCAP LLC Trust, Series 2009-RR6-I, Class 3A1, 2.90%, 12/26/37^D,Ώ		48,826			47,950
Grifonas Finance PLC, Class A, 0.32%, 8/28/39^D		599,287			463,149
JP Morgan Resecuritization Trust, Series 2009-7, Class 13A1, 2.50%, 6/27/37^D,Ώ		47,745			47,001
Marche Mutui 4 Srl, Class A, 0.34%, 2/25/55^D		50,915			54,378
Marche Mutui 5 Srl, Series 5, Class A, 0.25%, 10/27/65^D		9,542			10,328
Marche Mutui Srl, Series 6, Class A1, 2.10%, 1/27/64^D		91,748			100,777
Rise Ltd., 2014-1, Class A, 4.75%, 2/15/39		264,062			267,318
Trinity Square 2015-1A PLC, 1.79%, 7/15/51^D,Ώ		600,000			847,521
WAMU Mortgage Pass-Through Certificates, Series 2006-AR14, Class 1A4,
2.18%, 11/25/36^D		326,643			282,218
2.43%, 3/25/37^D		132,140			122,295

TOTAL WHOLE LOAN				$	2,722,663

TOTAL MORTGAGE-BACKED SECURITIES (COST $2,729,928)				$	2,722,663
U.S. GOVERNMENT AGENCY OBLIGATION – 1.5%
FEDERAL HOME LOAN BANK (FHLB) –1.5%
Federal Home Loan Bank Discount Notes,
0.26%, 2/10/16^‡		500,000			499,964
0.26%, 2/17/16^‡		600,000			599,926
0.27%, 2/12/16^‡		200,000			199,982
0.27%, 2/18/16^‡		1,500,000			1,499,801
0.29%, 2/19/16^‡		1,200,000			1,199,817
0.30%, 2/26/16^‡		1,600,000			1,599,653

TOTAL FEDERAL HOME LOAN BANK (FHLB)				$	5,599,143

TOTAL U.S. GOVERNMENT AGENCY OBLIGATION (COST $5,599,187)				$	5,599,143
U.S. GOVERNMENT INFLATION-LINKED SECURITIES – 24.5%
U.S. TREASURY INFLATION INDEXED BONDS – 20.3%
U.S. Treasury Inflation Indexed Bond, 0.13%, 4/15/18		3,250,000			3,354,415


Description	Par Value		Value
0.13%, 4/15/19	$	13,500,000	$	13,748,035
0.13%, 1/15/23		4,100,000		4,124,803
0.13%, 7/15/24		17,100,000		16,585,520
0.38%, 7/15/23		6,900,000		7,020,592
0.63%, 1/15/24		6,300,000		6,465,496
0.75%, 2/15/42		3,640,000		3,462,836
0.75%, 2/15/45		1,050,000		951,431
1.38%, 2/15/44		4,670,000		4,983,788
1.88%, 7/15/19		800,000		953,136
2.00%, 1/15/26		1,578,000		2,142,756
2.38%, 1/15/25		413,000		602,358
2.50%, 7/15/16		460,000		548,211
2.50%, 1/15/29		1,460,000		1,949,116
3.63%, 4/15/28		2,400,000		4,689,516
3.88%, 4/15/29		2,000,000		3,996,105

TOTAL U.S. TREASURY INFLATION INDEXED BONDS			$	75,578,114
U.S. TREASURY INFLATION INDEXED NOTES –4.2%
U.S. Treasury Inflation Indexed Bond,
0.13%, 4/15/17		100,000		104,548
0.13%, 1/15/22		5,250,000		5,443,215
0.13%, 7/15/22		6,820,000		6,968,678
0.63%, 7/15/21		3,010,000		3,254,309

TOTAL U.S. TREASURY INFLATION INDEXED NOTES			$	15,770,750

TOTAL U.S. GOVERNMENT INFLATION-LINKED SECURITIES (COST $90,263,040)			$	91,348,864

TOTAL INFLATION-LINKED & FIXED INCOME SECURITIES (COST $251,311,115)			$	239,683,589

	Number of Shares
REAL ESTATE RELATED SECURITIES – 42.9%
COMMON STOCKS – 9.0%
DIVERSIFIED – 0.0%**
Kiwi Property Group Ltd.		74,066	$	65,949
Stride Property Ltd.		22,431		31,303

TOTAL DIVERSIFIED			$	97,252
DIVERSIFIED REAL ESTATE ACTIVITIES – 4.8%
Alexander & Baldwin, Inc.		3,343		101,293
Allreal Holding AG		609		80,319
Alrov Properties & Lodgings Ltd.		1		13
Argosy Property Ltd.		58,962		43,621
CapitaLand Ltd.		180,000		391,285
City Developments Ltd.		44,000		215,836
Consolidated-Tomoka Land Co.		629		29,217
Daito Trust Construction Co. Ltd.		4,900		622,966
Daiwa House Industry Co. Ltd.		65,006		1,835,323


Description	Number of Shares		Value
DIC Asset AG		9,282	$	90,189
DREAM Unlimited Corp., Class A*		14,796		78,052
Goldin Properties Holdings Ltd.*^,††		110,000		75,288
Grand City Properties SA		4,050		83,909
Great Eagle Holdings Ltd.		35,000		98,308
Hang Lung Properties Ltd.		186,000		343,101
Henderson Land Development Co. Ltd.		104,400		568,673
HKR International Ltd.		60,800		25,735
Kerry Properties Ltd.		67,500		156,223
LendLease Group		36,695		342,660
Leopalace21 Corp.*		21,500		119,080
Mitsubishi Estate Co. Ltd.		205,210		4,062,477
Mitsui Fudosan Co. Ltd.		151,589		3,568,539
Mobimo Holding AG		484		102,185
Nomura Real Estate Holdings, Inc.		12,200		214,246
Patrizia Immobilien AG*		2,810		71,843
Shinoken Group Co. Ltd.		2,800		47,875
Soundwill Holdings Ltd.		54,000		61,335
Sumitomo Realty & Development Co. Ltd.		46,498		1,303,445
Sun Hung Kai Properties Ltd.		193,900		2,103,670
Takara Leben Co. Ltd.		8,800		45,242
Tejon Ranch Co.^#,*		1,252		24,489
Tokyo Tatemono Co. Ltd.		9,000		96,825
Tokyu Fudosan Holdings Corp.		34,900		228,883
U & I Group PLC		18,118		54,512
United Industrial Corp. Ltd.		35,000		73,940
UOL Group Ltd.		62,000		245,625
Wheelock & Co. Ltd.		65,000		248,851

TOTAL DIVERSIFIED REAL ESTATE ACTIVITIES			$	17,855,073
FINANCIALS – 0.1%
Catena AB		2,371		31,683
Chinese Estates Holdings Ltd.		9,000		20,567
Inmobiliaria Colonial SA*		75,340		50,470
Nam Tai Property, Inc.^#		8,138		43,131
Vib Vermoegen AG		1,611		29,101

TOTAL FINANCIALS			$	174,952
INDUSTRIALS – 0.0%**
Property For Industry Ltd.		30,878		32,561
OFFICE – 0.0%**
Precinct Properties New Zealand Ltd.		62,898		50,180
REAL ESTATE DEVELOPMENT – 1.1%
Aveo Group		43,613		92,764
Cheung Kong Property Holdings Ltd.		363,634		1,946,491
Conwert Immobilien Invest SE*		3,988		56,397
Forestar Group, Inc.^#,*		8,144		73,948
Goldcrest Co. Ltd.		1,800		30,275


Description	Number of Shares		Value
Helical Bar PLC		12,786	$	73,553
Howard Hughes Corp. (The)*		2,257		214,483
New World China Land Ltd.		264,000		256,325
Nexity SA		3,537		160,084
RMR Group, Inc.*		411		8,569
Selvaag Bolig ASA*		11,740		34,155
Sino Land Co. Ltd.		536,000		688,608
St. Modwen Properties PLC		19,036		105,428
Tag Immobilien AG		15,653		184,270
Villa World Ltd.		19,108		27,535
Wing Tai Holdings Ltd.		37,000		39,968

TOTAL REAL ESTATE DEVELOPMENT			$	3,992,853
REAL ESTATE OPERATING COMPANIES – 3.0%
Aeon Mall Co. Ltd.		13,600		207,854
Airport Facilities Co. Ltd.		5,100		24,712
Atrium European Real Estate Ltd.		27,546		94,789
Atrium Ljungberg AB, Class B		2,092		30,255
Azrieli Group		2,200		77,644
Blue Square Real Estate Ltd.		1,827		61,745
Buwog AG		6,438		132,338
Capital & Counties Properties PLC		64,375		340,655
Castellum AB		12,730		189,787
Citycon OYJ		38,764		92,510
Daejan Holdings PLC		667		58,328
Deutsche Euroshop AG		4,029		172,316
Deutsche Wohnen AG*		31,774		837,688
Entra ASA*		5,463		43,018
Fabege AB		10,564		163,779
Fastighets AB Balder*		4,764		106,446
First Capital Realty, Inc.		2,164		28,917
Gazit-Globe Ltd.		8,919		70,525
Global Logistic Properties Ltd.		241,500		286,220
Grainger PLC		45,014		148,684
Hang Lung Group Ltd.		38,000		104,983
Hemfosa Fastigheter AB		9,780		96,641
Hispania Activos Inmobiliarios SA*		13,722		170,640
Hongkong Land Holdings Ltd.		190,681		1,201,451
Hufvudstaden AB		30,805		424,494
Hulic Co. Ltd.		21,000		181,078
Hysan Development Co. Ltd.		62,000		240,231
Immofinanz AG*		47,418		89,366
Intershop Holding AG		211		85,270
Jerusalem Oil Exploration*		978		37,163
Keihanshin Building Co. Ltd.		11,300		60,690
Klovern AB-B Shares*		36,260		36,194
Kungsleden AB		15,009		100,370


Description	Number of Shares		Value
LEG Immobilien AG		21,666	$	1,758,670
Melisron Ltd.		1,000		31,730
Norstar Holdings, Inc.		2,510		31,791
NTT Urban Development Corp.		38,800		380,932
Olav Thon Eiendomsselskap ASA		5,280		81,076
Perennial Real Estate Holdings Ltd.*		35,647		21,208
Platzer Fastigheter Holding, Class B*		7,280		31,755
PSP Swiss Property AG		3,118		265,702
S Immo AG		10,793		89,720
Sagax AB, Class B*		6,013		44,047
Sponda OYJ		33,377		136,519
Swire Properties Ltd.		61,800		160,803
Swiss Prime Site AG		4,582		366,689
TLG Immobilien AG*		2,575		49,136
Toc Co. Ltd.		12,100		96,253
Unite Group PLC (The)		25,280		232,485
Vonovia SE		40,907		1,246,788
Wallenstam AB, Class B		20,184		143,781
Wihlborgs Fastigheter AB*		5,129		98,538

TOTAL REAL ESTATE OPERATING COMPANIES			$	11,264,404

TOTAL COMMON STOCKS (COST $34,045,811)			$	33,467,275
INVESTMENT COMPANIES – 0.0% **
DIVERSIFIED REAL ESTATE ACTIVITIES – 0.0%**
U.K. Commercial Property Trust Ltd.*		34,242		40,600
REAL ESTATE OPERATING COMPANIES – 0.0%**
F&C Commercial Property Trust Ltd.		58,277		110,114

TOTAL INVESTMENT COMPANIES (COST $170,815)			$	150,714
CONSUMER FINANCE – 0.0%**
Navient Corp. 2.55%		3,000		66,600

TOTAL PREFERRED STOCK (COST $71,100)			$	66,600
REAL ESTATE INVESTMENT TRUSTS – 33.9%
DIVERSIFIED – 4.1%
Abacus Property Group		43,103		92,799
Activia Properties, Inc.		40		179,688
American Assets Trust, Inc.		4,691		175,396
ANF Immobilier		3,061		65,965
Armada Hoffler Properties, Inc.		3,286		35,390
Astro Japan Property Group		7,569		28,580
British Land Co. PLC		144,990		1,535,946
Canadian Real Estate Investment Trust		2,615		76,626
Cominar Real Estate Investment Trust		5,697		60,593
Cousins Properties, Inc.		8,308		71,615
Daiwa House Real Estate Investment Corp.		21		80,995


Description	Number of Shares		Value
Daiwa House Residential Investment Corp.		76	$	155,855
Dream Global Real Estate Investment Trust		16,351		93,958
Duke Realty Corp.		24,930		501,841
Fonciere Des Regions		2,685		228,134
Forest City Realty Trust, Inc.*		13,426		264,492
Gecina SA		7,079		909,982
Gladstone Commercial Corp.		1,641		23,466
Global Net Lease, Inc.^#		17,570		122,990
Goodman Property Trust		95,812		78,039
GPT Group		406,445		1,421,776
Green Real Estate Investment Trust PLC		60,098		97,584
Growthpoint Properties Australia Ltd.		49,458		106,580
H&R Real Estate Investment Trust		3,443		46,328
Hamborner Real Estate Investment Trust AG		3,124		30,122
Hankyu Real Estate Investment Trust, Inc.		64		69,301
Heiwa Real Estate Investment Trust, Inc.		33		22,724
Investors Real Estate Trust		13,684		89,220
Kenedix Office Investment Corp.		130		658,706
Land Securities Group PLC		142,480		2,234,576
Lexington Realty Trust		18,108		132,732
Liberty Property Trust		12,423		364,242
Londonmetric Property PLC		44,648		103,283
Mapletree Greater China Commercial Trust		135,000		79,884
Mirvac Group		763,081		1,041,922
Morguard Real Estate Investment Trust		3,453		32,363
Nieuwe Steen Investments NV		77,062		313,908
NIPPON Real Estate Investment Trust Investment Corp.		11		25,078
Nomura Real Estate Master Fund, Inc.*		364		447,760
One Liberty Properties, Inc.		1,381		28,614
PS Business Parks, Inc.		1,520		131,602
Sekisui House Si Residential Investment Corp.		115		98,350
Shaftesbury PLC		20,716		248,685
Spirit Realty Capital, Inc.		99,162		1,039,218
Stockland		172,262		505,430
Sunlight Real Estate Investment Trust		177,000		84,074
Suntec Real Estate Investment Trust		189,000		211,099
Tokyu Real Estate Investment Trust, Inc.		91		107,063
Top Real Estate Investment Trust, Inc.		13		46,864
United Urban Investment Corp.		209		286,042
Washington Real Estate Investment Trust		4,991		125,923
Wereldhave NV		2,806		153,295
Whitestone Real Estate Investment Trust^#		1,951		21,500
Yuexiu Real Estate Investment Trust		136,000		69,052

TOTAL DIVERSIFIED			$	15,257,250
DIVERSIFIED REAL ESTATE ACTIVITIES – 0.1%
Merlin Properties Socimi SA		21,541		250,156


Description	Number of Shares		Value
FINANCIALS – 0.4%
360 Capital Industrial Fund		26,163	$	44,668
Alstria Office Real Estate Investment Trust AG		8,863		110,667
Colony Starwood Homes		1,339		28,815
Independence Realty Trust, Inc.		3,871		26,362
NorthStar Realty Europe Corp.		2,897		27,348
NorthStar Realty Finance Corp.		8,693		103,186
Northview Apartment Real Estate Investment Trust		6,017		73,790
Primary Health Properties PLC		29,956		45,787
Select Income Real Estate Investment Trust		1,903		35,967
Sella Capital Real Estate Ltd.		73,191		102,718
STORE Capital Corp.		1,310		32,475
Vicinity Centres		436,241		908,198

TOTAL FINANCIALS			$	1,539,981
INDUSTRIALS – 2.1%
Ascendas Real Estate Investment Trust^††		204,000		334,496
BWP Trust		75,742		166,262
DCT Industrial Trust, Inc.		24,254		868,051
EastGroup Properties, Inc.		3,668		195,835
First Industrial Realty Trust, Inc.		9,049		186,319
GLP J-REIT		519		505,420
Goodman Group		96,864		424,140
Granite Real Estate Investment Trust		3,100		83,314
Hansteen Holdings PLC		69,778		110,640
Industria Real Estate Investment Trust		37,595		54,537
Industrial & Infrastructure Fund Investment Corp.		30		140,229
Japan Logistics Fund, Inc.		68		135,377
Mapletree Industrial Trust		88,000		95,237
Mapletree Logistics Trust		110,000		72,780
Monmouth Real Estate Investment Corp.		4,131		42,467
Nippon Prologis Real Estate Investment Trust, Inc.		424		754,610
Prologis, Inc.		77,812		3,071,240
Pure Industrial Real Estate Trust		20,600		65,584
Rexford Industrial Realty, Inc.		4,240		69,070
Segro PLC		55,652		349,248
STAG Industrial, Inc.		4,083		69,125
Terreno Realty Corp.		2,510		56,425
Warehouses De Pauw CVA		1,047		84,912

TOTAL INDUSTRIALS			$	7,935,318
OFFICE – 6.5%
Alexandria Real Estate Equities, Inc.		14,292		1,131,641
Allied Properties Real Estate Investment Trust		2,732		64,941
Axiare Patrimonio SOCIMI SA		5,292		64,293


Description	Number of Shares		Value
Befimmo SA		1,306	$	74,913
Boston Properties, Inc.		20,979		2,437,970
Brandywine Realty Trust		13,995		179,556
CapitaLand Commercial Trust		169,000		154,639
Champion Real Estate Investment Trust		308,000		144,940
Columbia Property Trust, Inc.		7,769		173,016
Confinimmo SA		1,735		188,959
Coresite Realty Corp.		1,615		103,586
Corporate Office Properties Trust		7,659		170,796
CyrusOne, Inc.		2,641		97,321
Daiwa Office Investment Corp.		25		143,051
Derwent London PLC		18,029		836,201
Dexus Property Group		49,774		262,523
Digital Realty Trust, Inc.		23,174		1,855,774
Douglas Emmett, Inc.		21,874		647,033
DuPont Fabros Technology, Inc.		7,917		262,607
Empire State Realty Trust, Inc., Class A		12,558		207,835
Equity Commonwealth*		9,064		243,731
First Potomac Realty Trust		4,414		43,213
Franklin Street Properties Corp.		9,236		90,143
Global One Real Estate Investment Corp.		19		67,087
Government Properties Income Trust^#		9,510		130,572
Gramercy Property Trust		28,890		211,186
Great Portland Estates PLC		75,597		829,113
Highwoods Properties, Inc.		17,757		750,944
Hudson Pacific Properties, Inc.		4,127		104,867
ICADE		10,885		773,567
Invesco Office J-Reit, Inc.		127		108,901
Investa Office Fund		276,532		773,419
Japan Excellent, Inc.		92		102,496
Japan Prime Realty Investment Corp.		57		205,240
Japan Real Estate Investment Corp.		86		456,832
Kilroy Realty Corp.		22,661		1,266,070
Lar Espana Real Estate Socimi SA		6,433		61,414
Mack-Cali Realty Corp.		9,666		200,956
MCUBS MidCity Investment Corp.		12		35,614
Mori Hills Real Estate Investment Trust Investment Corp.		287		363,567
Mori Trust Sogo Real Estate Investment Trust, Inc.		102		170,102
New York Real Estate Investment Trust, Inc.		12,191		125,323
Nippon Building Fund, Inc.		105		543,086
Orix JREIT, Inc.		568		791,865
Paramount Group, Inc.		30,200		495,280
Parkway Properties, Inc.		8,992		121,122
Piedmont Office Realty Trust, Inc., Class A		11,569		214,142
Premier Investment Corp.		75		83,914
Prosperity Real Estate Investment Trust		91,000		31,911


Description	Number of Shares		Value
QTS Realty Trust, Inc. Class A		1,013	$	46,801
SL Green Realty Corp.		18,462		1,783,614
Spring Real Estate Investment Trust		65,000		23,530
VEREIT, Inc.		142,758		1,100,664
Vornado Realty Trust		29,083		2,572,683
Workspace Group PLC		11,332		130,730

TOTAL OFFICE			$	24,255,294
REAL ESTATE OPERATING COMPANIES – 0.0%**
Hersha Hospitality Trust		3,610		63,428
Picton Property Income Ltd.		33,236		33,346
Schroder Real Estate Investment Trust Ltd.		35,581		29,367

TOTAL REAL ESTATE OPERATING COMPANIES			$	126,141
RESIDENTIAL – 4.5%
Advance Residence Investment Corp.		92		199,186
Aedifica SA		700		43,787
American Campus Communities, Inc.		8,709		367,520
American Homes 4 Rent, Class A		12,041		180,495
American Residential Properties, Inc.		1,532		25,952
Apartment Investment & Management Co., Class A		11,029		431,785
Ascott Residence Trust		63,000		50,940
AvalonBay Communities, Inc.		20,138		3,453,466
Boardwalk Real Estate Investment Trust		1,876		58,976
Camden Property Trust		6,413		489,312
Campus Crest Communities, Inc.*		6,423		44,447
Canadian Apartment Properties Real Estate Investment Trust		6,504		138,864
Comforia Residential Real Estate Investment Trust, Inc.		26		46,771
Education Realty Trust, Inc.		3,441		134,474
Equity Lifestyle Properties, Inc.		5,965		393,213
Equity Residential		61,022		4,704,186
Essex Property Trust, Inc.		8,780		1,871,106
Ichigo Office Real Estate Investment Trust Investment		78		57,605
InterRent Real Estate Investment Trust		6,334		30,745
Invincible Investment Corp.		166		101,885
Japan Rental Housing Investments, Inc.		99		67,184
Kenedix Residential Investment Corp.		19		44,265
Killam Apartment Real Estate Investment Trust		6,336		49,208
Mid-America Apartment Communities, Inc.		5,677		532,616
Milestone Apartments Real Estate Investment Trust		2,900		31,217
Monogram Residential Trust, Inc.^#		6,266		54,640
NexPoint Residential Trust, Inc.		4,363		51,920
Nippon Accommodations Fund, Inc.		38		136,006
Post Properties, Inc.		9,796		561,213


Description	Number of Shares		Value
Preferred Apartment Communities, Inc.^#		3,500	$	42,175
Silver Bay Realty Trust Corp.		4,617		64,453
Starts Proceed Investment Corp.		17		23,818
Sun Communities, Inc.		10,246		682,281
UDR, Inc.		49,814		1,772,880
UMH Properties, Inc.		3,172		29,912

TOTAL RESIDENTIAL			$	16,968,503
RETAIL – 10.4%
Acadia Realty Trust		4,329		147,619
AEON Real Estate Investment Trust
Investment Corp.		95		98,897
Agree Realty Corp.		998		36,846
Alexander’s, Inc.		247		90,155
Brixmor Property Group, Inc.		9,147		243,493
CapitaLand Mall Trust		237,200		333,261
CapitaLand Retail China Trust Management Ltd.		49,000		48,725
CBL & Associates Properties, Inc.		15,254		163,980
Cedar Realty Trust, Inc.		4,681		33,048
Charter Hall Retail Real Estate Investment Trust		15,427		45,350
CT Real Estate Investment Trust		2,626		26,149
DDR Corp.		71,095		1,216,435
Equity One, Inc.		6,112		169,425
Eurocommercial Properties NV		10,559		461,545
Federal Realty Investment Trust		5,033		759,127
Fortune Real Estate Investment Trust		142,000		144,453
Frasers Centrepoint Trust		100,000		133,605
Frontier Real Estate Investment Corp.		16		65,102
Fukuoka Real Investment Trust Corp.		59		96,444
General Growth Properties, Inc.		113,150		3,172,726
Getty Realty Corp.^#		5,416		96,838
Hammerson PLC		129,775		1,084,160
Inland Real Estate Corp.		6,326		67,751
Intu Properties PLC		38,766		165,893
Japan Retail Fund Investment Corp.		904		1,914,913
Kenedix Retail Real Estate Investment Trust Corp.		70		142,295
Kimco Realty Corp.		91,637		2,491,610
Kite Realty Group Trust		6,126		162,339
Klepierre		53,734		2,328,927
Link Real Estate Investment Trust		326,500		1,873,126
Macerich Co. (The)		10,576		824,611
Mapletree Commercial Trust		100,000		93,988
Mercialys SA		5,059		103,303
National Retail Properties, Inc.^#		9,262		397,710
OneREIT		18,100		40,699


Description	Number of Shares		Value
Pennsylvania Real Estate Investment Trust		5,171	$	101,248
Plaza Retail Real Estate Investment Trust		8,600		27,686
Ramco-Gershenson Properties Trust		5,105		87,244
Realty Income Corp.^#		16,728		933,255
Regency Centers Corp.		10,527		762,050
Retail Opportunity Investments Corp.		8,569		158,441
Retail Properties of America, Inc.		17,621		273,302
RioCan Real Estate Investment Trust		10,197		180,080
Rouse Properties, Inc.^#		2,250		39,375
Saul Centers, Inc.		957		48,683
Scentre Group		700,160		2,187,129
Shopping Centres Australasia Property Group		34,722		53,016
Simon Property Group, Inc.		40,783		7,597,057
Smart Real Estate Investment Trust		7,151		158,038
Tanger Factory Outlet Centers, Inc.		7,218		230,904
Taubman Centers, Inc.		4,721		335,380
Unibail-Rodamco SE		14,896		3,754,691
Urban Edge Properties		6,543		158,995
Urstadt Biddle Properties, Inc., Class A		1,937		39,321
Vastned Retail NV		1,260		55,166
Weingarten Realty Investors		8,402		293,146
Westfield Corp.		263,105		1,872,938
WP GLIMCHER, Inc.		13,271		120,501

TOTAL RETAIL			$	38,742,194
SPECIALIZED – 5.8%
ALE Property Group		22,174		60,252
Apple Hospitality Real Estate Investment Trust, Inc.^#		6,577		120,293
Ashford Hospitality Prime, Inc.		8,237		90,525
Ashford Hospitality Trust, Inc.		4,355		24,214
Big Yellow Group PLC		12,620		138,984
Care Capital Properties, Inc.		5,287		158,293
CareTrust Real Estate Investment Trust, Inc.^#		2,417		24,798
CDL Hospitality Trusts		50,000		45,990
Chatham Lodging Trust		1,959		36,947
Chesapeake Lodging Trust		4,775		119,948
Corrections Corp. of America		8,704		250,762
CubeSmart		11,837		370,380
DiamondRock Hospitality Co.		14,595		121,138
EPR Properties		4,615		276,669
Extra Space Storage, Inc.		8,213		744,837
FelCor Lodging Trust, Inc.		8,425		58,638
First Real Estate Investment Trust		92,000		75,668
Folkestone Education Trust		17,729		28,238
Gaming and Leisure Properties, Inc.		7,800		203,424
Geo Group, Inc. (The)		5,461		161,536
HCP, Inc.		30,551		1,098,003


Description	Number of Shares		Value
Healthcare Realty Trust, Inc.		26,519	$	770,112
Healthcare Trust of America, Inc. Class A		26,299		737,424
Hospitality Properties Trust		11,737		276,876
Host Hotels & Resorts, Inc.		134,911		1,868,517
InnVest Real Estate Investment Trust		11,769		43,265
Iron Mountain, Inc.		12,126		333,950
Japan Hotel REIT Investment Corp.		196		148,849
LaSalle Hotel Properties		7,852		174,000
LTC Properties, Inc.		2,588		115,244
Medical Properties Trust, Inc.		12,856		141,416
National Health Investors, Inc.		2,193		133,071
New Senior Investment Group, Inc.		11,114		102,138
NorthWest Healthcare Properties Real Estate Investment Trust		7,900		49,230
Omega Healthcare Investors, Inc.		11,146		353,440
Parkway Life Real Estate Investment Trust		54,000		85,776
Pebblebrook Hotel Trust		27,173		663,565
Physicians Realty Trust		4,394		75,006
Public Storage		18,468		4,682,746
Regal Real Estate Investment Trust		106,000		24,623
RLJ Lodging Trust		9,851		180,175
Ryman Hospitality Properties, Inc.^#		3,803		178,551
Sabra Health Care Real Estate Investment Trust, Inc.		4,628		84,970
Safestore Holdings PLC		52,760		258,214
Senior Housing Properties Trust		10,444		151,229
Sovran Self Storage, Inc.		2,465		277,756
Summit Hotel Properties, Inc.		6,545		66,432
Sunstone Hotel Investors, Inc.		57,796		686,617
Universal Health Realty Income Trust		969		49,254
Ventas, Inc.		21,701		1,200,499
Welltower, Inc.		55,354		3,444,125
Xenia Hotels & Resorts, Inc.^#		5,707		83,493

TOTAL SPECIALIZED			$	21,650,100

TOTAL REAL ESTATE INVESTMENT TRUSTS (COST $112,613,682)			$	126,724,937

TOTAL REAL ESTATE RELATED SECURITIES (COST $146,901,408)			$	160,409,526


Description	Number of Shares		Value
COMMODITY RELATED SECURITIES –7.2%
INVESTMENT COMPANIES – 7.2%
COMMODITY FUNDS – 7.2%
Credit Suisse Commodity Return Strategy Fund, Class I*		4,397,805	$	19,570,234
PIMCO CommoditiesPLUS Strategy Fund, Institutional Shares*		1,426,317		7,259,956

TOTAL COMMODITY FUNDS			$	26,830,190

TOTAL INVESTMENT COMPANIES (COST $40,066,510)			$	26,830,190

TOTAL COMMODITY RELATED SECURITY (COST $40,066,510)			$	26,830,190

	Notional Amount
PURCHASED OPTIONS – 0.0%**
CALL OPTIONS – 0.0%**
IRO USD 1Y CBK, Strike Price $0.02, Expiring 4/11/2016	$	30,700,000	$	38
IRO USD 1Y GLM, Strike Price $0.02, Expiring 4/29/2016		12,200,000		41
IRO USD 1Y MYC, Strike Price $0.02, Expiring 4/06/2016		11,500,000		10

TOTAL CALL OPTIONS			$	89

	Contracts
PUT OPTIONS – 0.0%**
3M GBP LIBOR MDCRV Option Mar16, Strike Price $98.88, Expiring 3/11/2016		57	$	254
ICE A PUT UK 90 DAY LIBOR, Strike Price $0.99, Expiring 12/21/2016		191		1,701

TOTAL PUT OPTIONS			$	1,955

	Notional Amount
PUT OPTIONS – 0.0%**
IRO USD 1Y CBK, Strike Price $1.50, Expiring 7/05/2016	$	29,900,000	$	1,734
IRO USD 1Y Dub, Strike Price $1.25, Expiring 7/05/2016		55,000,000		9,772
IRO USD 1Y GLM, Strike Price $1.50, Expiring 7/11/2016		32,400,000		2,193
IRO USD 1Y MYC, Strike Price $0.01, Expiring 6/01/2016		14,900,000		7,039
IRO USD 1Y MYC, Strike Price $0.01, Expiring 6/23/2016		15,000,000		6,998


Description	Notional Amount		Value
IRO USD 30Y MYC, Strike Price $0.03, Expiring 12/11/2017	$	1,000,000	$	65,422
IRO USD 5Y5Y FBF, Strike Price $3.40, Expiring 12/05/2016		3,800,000		11,647

TOTAL PUT OPTIONS			$	104,805

TOTAL PURCHASED OPTIONS (COST $332,506)			$	106,849

	Number of Shares
SHORT-TERM INVESTMENTS – 3.8%
MONEY MARKET FUNDS – 3.8%
Dreyfus Cash Management Fund, Institutional Shares, 0.28%^{^}		14,070,914	$	14,070,914

TOTAL SHORT-TERM INVESTMENT (COST $14,070,914)			$	14,070,914

	Par Value
CASH COLLATERAL INVESTED FOR SECURITIES ON LOAN – 0.5%
REPURCHASE AGREEMENT – 0.5%
Citigroup Global Markets, Inc., 0.34%, dated 1/29/16, due 2/01/16, repurchase price $365,896, collateralized by U.S. Government & Treasury Securities 0.00% to 9.50%, maturing 3/20/16 to 3/20/62; total market value of $373,204.	$	365,886	$	365,886
Daiwa Capital Markets America, 0.38%, dated 1/29/16, due 2/01/16, repurchase price $365,898, collateralized by U.S. Government & Treasury Securities 0.00% to 7.25%, maturing 3/23/16 to 2/01/49; total market value of $373,204.		365,886		365,886
HSBC Securities USA, Inc., 0.30%, dated 1/29/16, due 2/01/16, repurchase price $22,972, collateralized by U.S. Government Securities 0.00% to 7.25%, maturing 2/22/16 to 1/15/37; total market value of $23,431.		22,971		22,971
HSBC Securities USA, Inc., 0.31%, dated 1/29/16, due 2/01/16, repurchase price $73,299, collateralized by U.S. Government Securities 2.50% to 6.00%, maturing 1/01/28 to 1/01/46; total market value of $74,763.		73,297		73,297
ING Financial Markets LLC, 0.32%, dated 1/29/16, due 2/01/16, repurchase price $365,896, collateralized by U.S. Government Securities 1.70% to 6.26%, maturing 1/01/19 to 8/01/46; total market value of $373,205.		365,886		365,886
Mizuho Securities USA, Inc., 0.35%, dated 1/29/16, due 2/01/16, repurchase price $365,897, collateralized by U.S. Government Securities 0.00% to 9.50%, maturing 10/01/19 to 7/01/43; total market value of $373,204.		365,886		365,886



Description	Par Value			Value
TD Securities (USA) LLC, 0.35% dated 1/29/16, due 2/01/16, repurchase price $365,897, collateralized by U.S. Government Securities 2.50% to 4.00%, maturing 9/01/26 to 9/01/45; total market value of $373,203.	$	365,886		$	365,886

TOTAL CASH COLLATERAL INVESTED FOR SECURITIES ON LOAN (COST $1,925,698)				$	1,925,698

TOTAL INVESTMENTS IN SECURITIES BEFORE WRITTEN OPTIONS – 118.6%^ø (COST $454,608,151)				$	443,026,766

	Contracts
WRITTEN OPTIONS – (0.1%)
CALL OPTION – 0.0%**
3M GBP LIBOR MDCRV Option Mar16, Strike Price $99.25, Expiring 3/11/2016		(57	)	$	(14,721	)

TOTAL CALL OPTION				$	(14,721	)

	Notional Amount
CALL OPTIONS – (0.1%)
CDX IG25 5Y V1 BRC, Strike Price $0.90, Expiring 4/20/2016	$	(400,000	)	$	(427	)
CDX IG25 5Y V1 BRC, Strike Price $0.95, Expiring 4/20/2016		(200,000	)		(376	)
CDX IG25 5Y V1 FBF, Strike Price $0.90, Expiring 4/20/2016		(200,000	)		(214	)
CDX IG25 5Y V1 MYC, Strike Price $0.95, Expiring 4/20/2016		(400,000	)		(752	)
INF CAP Fwd EUR 20Y GLM, Strike Price $0.03, Expiring 6/22/2035		(700,000	)		(11,578	)
INF CAP U.S. 1Y DUB, Strike Price $0.03, Expiring 6/01/2016		(600,000	)		—
INF CAP U.S. YOY, Strike Price $0.03, Expiring 4/10/2020		(8,300,000	)		(76,235	)
IRO USD 5Y GLM, Strike Price $0.02, Expiring 3/14/2016		(8,500,000	)		(48,776	)
IRO USD 5Y GLM, Strike Price $0.03, Expiring 2/18/2016		(7,200,000	)		(49,430	)
IRO USD 5Y5Y FBF, Strike Price $2.30, Expiring 4/25/2016		(2,800,000	)		(15,962	)
IRO USD 5Y5Y FBF, Strike Price $2.40, Expiring 12/05/2016		(3,800,000	)		(51,461	)
IRO USD 5Y5Y MYC, Strike Price $2.30, Expiring 4/19/2016		(3,200,000	)		(17,422	)

TOTAL CALL OPTIONS				$	(272,633	)

Description	Contracts			Value
PUT OPTIONS – 0.0%**
3M GBP LIBOR MDCRV Option Mar16, Strike Price $98.63, Expiring 3/11/2016		(57	)	$	—


Description	Contracts			Value
ICE A PUT UK 90 DAY LIBOR, Strike Price $0.98, Expiring 12/21/2016		(191	)	$	—

TOTAL PUT OPTIONS				$	—

	Notional Amount
PUT OPTIONS – 0.0%**
CDX IG25 5Y V1 BOA, Strike Price $1.60, Expiring 4/20/2016	$	(200,000	)	$	(170	)
CDX IG25 5Y V1 BOA, Strike Price $1.70, Expiring 4/20/2016		(600,000	)		(365	)
CDX IG25 5Y V1 BRC, Strike Price $1.50, Expiring 4/20/2016		(200,000	)		(227	)
CDX IG25 5Y V1 BRC, Strike Price $1.60, Expiring 4/20/2016		(200,000	)		(170	)
CDX IG25 5Y V1 CBK, Strike Price $1.50, Expiring 4/20/2016		(200,000	)		(227	)
CDX IG25 5Y V1 FBF, Strike Price $1.60, Expiring 4/20/2016		(400,000	)		(341	)
CDX IG25 5Y V1 JPM, Strike Price $1.10, Expiring 2/17/2016		(400,000	)		(372	)
CDX IG25 5Y V1 JPM, Strike Price $1.20, Expiring 4/20/2016		(400,000	)		(153	)
INF FLOOR U.S. YOY, Strike Price $0.00, Expiring 4/10/2020		(8,300,000	)		(3,796	)


Description	Notional Amount			Value
IRO USD 5Y MYC, Strike Price $0.03, Expiring 12/11/2017	$	(4,200,000	)	$	(40,410	)

TOTAL PUT OPTIONS				$	(46,231	)
PUT SWAPTIONS – 0.0%**
INF CAP U.S. 10Y JPM, Strike Price $0.04, Expiring 4/22/2024		(1,300,000	)		(947	)
INF CAP U.S. 10Y JPM, Strike Price $0.04, Expiring 5/16/2024		(100,000	)		(79	)
INF FLOOR U.S. YOY JPM, Strike Price $0.02, Expiring 3/24/2020		(2,300,000	)		(26,880	)
INF FLOOR USD, Strike Price $2.17, Expiring 4/07/2020		(2,600,000	)		(1,575	)

TOTAL PUT SWAPTIONS				$	(29,481	)

TOTAL WRITTEN OPTIONS (PREMIUMS RECEIVED $359,314)				$	(363,066	)
TOTAL INVESTMENTS NET OF WRITTEN OPTIONS – 118.5%				$	442,663,700
COLLATERAL FOR SECURITIES ON LOAN – (0.5%)					(1,925,698	)
OTHER LIABILITIES LESS ASSETS – (18.0%)					(67,120,459	)

TOTAL NET ASSETS – 100.0%				$	373,617,543

Cost of investments for Federal income tax purposes is $463,981,623. The net unrealized appreciation/(depreciation) of investments was $(20,954,857). This consists of net unrealized appreciation from investment for those securities having an excess of value over cost of $25,201,373 and net unrealized depreciation from investments for those securities having an excess of cost over value of $46,156,230.

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

Level 2 – other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.)

Level 3 – significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments)

The following is a summary of the inputs used as of January 31, 2016 in valuing the Fund’s assets carried at fair value:

At January 31, 2016, the Wilmington Multi-Manager Real Asset Fund had the following outstanding forward foreign currency contracts, which contractually obligates the Fund to deliver or receive currencies at specified future dates. The open contracts were as follows:

At January 31, 2016, the Wilmington Multi-Manager Real Asset Fund had the following outstanding foreign exchange contracts:

At January 31, 2016, the Wilmington Multi-Manager Real Asset Fund had open financial futures contracts as follows:

At January 31, 2016, the Wilmington Multi-Manager Real Asset Fund had open interest rate swap contracts as follows:

At January 31, 2016, the Wilmington Multi-Manager Real Asset Fund had open credit default swap contracts as follows:


Description	Number of Shares		Value
INVESTMENT COMPANIES – 97.4%
ALTERNATIVE INVESTMENT FUNDS – 10.9%
AQR Managed Futures Strategy Fund, Class I		145,746	$	1,514,297
Blackstone Alt Multi-Strategy, Class Y*		82,120		807,239
Legg Mason BW Absolute Return Opportunities Fund, Class I		127,799		1,426,236

TOTAL ALTERNATIVE INVESTMENT FUNDS			$	3,747,772
DEBT FUNDS – 61.1%
Fidelity Focused High Income		124,760		979,362
FPA New Income, Inc.		158,569		1,576,173
RidgeWorth Seix Floating Rate High Income Fund, Class I		115,589		942,049
Wilmington Broad Market Bond Fund, Class I^§		579,595		5,575,706
Wilmington Intermediate-Term Bond Fund, Class I^§		1,202,654		11,930,328

TOTAL DEBT FUNDS			$	21,003,618
EQUITY FUNDS – 18.6%
DFA U.S. Small Cap Value Portfolio, Institutional Shares		6,318		178,788
Diamond Hill Large Cap Fund, Class Y		9,360		189,722
Highland Long/Short Equity Fund, Class Z		89,872		992,182
Janus Enterprise Fund, Class I		3,325		270,371
LSV Value Equity Fund, Class I		9,472		201,473
Morgan Stanley Institutional Fund, Inc. - Growth Portfolio, Class I		15,659		572,492
T Rowe Price Institutional Large-Cap Growth Fund, Class I		22,141		576,561


Description	Number of Shares		Value
Wilmington Large-Cap Strategy Fund, Class I^§		81,150	$	1,285,422
Wilmington Multi-Manager International Fund, Class I^§		324,138		2,145,792

TOTAL EQUITY FUNDS			$	6,412,803
EXCHANGE-TRADED FUNDS – 6.8%
iShares Cohen & Steers REIT ETF		3,645		348,061
iShares Currency Hedged MSCI Eurozone ETF		4,225		103,893
iShares Russell Mid-Cap Value ETF		4,175		270,957
iShares Russell Top 200 Value ETF		6,275		247,360
iShares TIPS ETF		7,497		835,166
SPDR Dow Jones International Real Estate ETF		10,360		392,437
WisdomTree Japan Hedged Equity Fund ETF		2,825		134,357

TOTAL EXCHANGE-TRADED FUNDS			$	2,332,231

TOTAL INVESTMENT COMPANIES (COST $33,739,224)			$	33,496,424
MONEY MARKET FUND – 2.5%
Dreyfus Cash Management Fund, Institutional Shares, 0.28%^{^}		874,883		874,883

TOTAL MONEY MARKET FUND (COST $874,882)			$	874,883

TOTAL INVESTMENTS – 99.9% (COST $34,614,106)			$	34,371,307
OTHER ASSETS LESS LIABILITIES – 0.1%				19,310

TOTAL NET ASSETS – 100.0%			$	34,390,617

Cost of investments for Federal income tax purposes is $35,008,436. The net unrealized appreciation/(depreciation) of investments was ($637,129). This consists of net unrealized appreciation from investment for those securities having an excess of value over cost of $545,476 and net unrealized depreciation from investments for those securities having an excess of cost over value of $1,182,605.

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

Level 2 – other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.)

Level 3 – significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments)

The following is a summary of the inputs used as of January 31, 2016 in valuing the Fund’s assets carried at fair value:


Description	Number of Shares		Value
INVESTMENT COMPANIES – 81.1%
ALTERNATIVE INVESTMENT FUNDS – 12.4%
AQR Managed Futures Strategy Fund, Class I		221,942	$	2,305,978
Blackstone Alt Multi-Strategy, Class Y*		132,464		1,302,124
Legg Mason BW Absolute Return Opportunities Fund, Class I		188,530		2,103,992

TOTAL ALTERNATIVE INVESTMENT FUNDS			$	5,712,094
DEBT FUNDS – 7.5%
Fidelity Focused High Income		127,227		998,728
FPA New Income, Inc.		137,478		1,366,529
RidgeWorth Seix Floating Rate High Income Fund, Class I		132,369		1,078,806

TOTAL DEBT FUNDS			$	3,444,063
EQUITY FUNDS – 53.2%
DFA U.S. Small Cap Value Portfolio,
Institutional Shares		13,437		380,254
Diamond Hill Large Cap Fund, Class Y		66,931		1,356,682
Harbor International Fund, Institutional Shares		65,634		3,685,368
Highland Long/Short Equity Fund, Class Z		167,632		1,850,659
Janus Enterprise Fund, Class I		19,763		1,607,155
LSV Value Equity Fund, Class I		62,708		1,333,808
Morgan Stanley Institutional Fund, Inc. - Growth Portfolio, Class I		57,193		2,090,964
T Rowe Price Institutional Large-Cap Growth Fund, Class I		79,344		2,066,114
Wilmington Large-Cap Strategy Fund, Class I^§		337,869		5,351,839
Wilmington Multi-Manager International Fund, Class I^§		716,219		4,741,373

TOTAL EQUITY FUNDS			$	24,464,216
EXCHANGE-TRADED FUNDS – 8.0%
iShares Cohen & Steers REIT ETF^#		5,125		489,386
iShares Currency Hedged MSCI Eurozone ETF		15,700		386,063
iShares Russell Mid-Cap Value ETF		8,050		522,445
iShares TIPS ETF		11,100		1,236,540
SPDR Dow Jones International Real Estate ETF^#		13,500		511,380
WisdomTree Japan Hedged Equity Fund ETF		10,900		518,404

TOTAL EXCHANGE-TRADED FUNDS			$	3,664,218

TOTAL INVESTMENT COMPANIES (COST $38,094,922)			$	37,284,591



	Par Value
COLLATERALIZED MORTGAGE OBLIGATIONS – 0.5%
FEDERAL NATIONAL MORTGAGE ASSOCIATION (FNMA) – 0.4%
Series 1988-23, Class C, 9.75%, 9/25/18	$	484	$	517
Series 2012-114, Class VM, 3.50%, 10/25/25		156,791		166,318

TOTAL FEDERAL NATIONAL MORTGAGE ASSOCIATION (FNMA)			$	166,835
WHOLE LOAN – 0.1%
Banc of America Mortgage Securities, Inc., Series 2004-A, Class 2A1, 2.78%, 2/25/34^D		39,365		38,865
IndyMac INDA Mortgage Loan Trust, Series 2005-AR1, Class 2A1, 2.90%, 11/25/35^D		24,556		22,336

TOTAL WHOLE LOAN			$	61,201

TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (COST $239,297)			$	228,036
CORPORATE BONDS – 6.9%
AEROSPACE & DEFENSE – 0.2%
L-3 Communications Corp., Company Guaranteed, 3.95%, 11/15/16		85,000		86,201
BANKS – 0.2%
BB&T Corp., Sr. Unsecured, MTN, 2.45%, 1/15/20		30,000		30,431
Citigroup, Inc., Sr. Unsecured, 1.70%, 4/27/18		35,000		34,757
Fifth Third Bancorp, Subordinated, 4.30%, 1/16/24		20,000		20,828

TOTAL BANKS			$	86,016
BEVERAGES – 0.4%
Anheuser-Busch Cos. LLC, Company Guaranteed, 5.05%, 10/15/16		130,000		133,914
Anheuser-Busch InBev Finance, Inc., Company Guaranteed, 4.90%, 2/01/46		20,000		20,767
Dr. Pepper Snapple Group, Inc., Company Guaranteed, 2.00%, 1/15/20		10,000		9,873
Dr. Pepper Snapple Group, Inc., Company Guaranteed, 2.70%, 11/15/22		40,000		39,438

TOTAL BEVERAGES			$	203,992
BIOTECHNOLOGY – 0.1%
Amgen, Inc., Sr. Unsecured, 4.40%, 5/01/45		25,000		23,357
Celgene Corp., Sr. Unsecured, 4.63%, 5/15/44		40,000		37,791

TOTAL BIOTECHNOLOGY			$	61,148


Description	Par Value		Value
CAPITAL MARKETS – 0.1%
BlackRock, Inc., Sr. Unsecured, 3.38%, 6/01/22	$	38,000	$	40,198
Charles Schwab Corp., Sr. Unsecured, 2.20%, 7/25/18		15,000		15,151

TOTAL CAPITAL MARKETS			$	55,349
COMMERCIAL BANKS – 0.2%
HSBC USA, Inc., Sr. Unsecured, 2.63%, 9/24/18		40,000		40,626
Wells Fargo & Co., Series M, Subordinated, 3.45%, 2/13/23		35,000		35,361

TOTAL COMMERCIAL BANKS			$	75,987
COMMERCIAL FINANCE – 0.2%
General Electric Capital Corp., Sr. Unsecured, MTN, 2.30%, 4/27/17		70,000		71,053
COMPUTERS – 0.1%
Apple, Inc., Sr. Unsecured, 1.05%, 5/05/17		45,000		45,144
CONSUMER FINANCE – 0.1%
American Express Co., Sr. Unsecured, FRN, 0.97%, 5/22/18^r		30,000		29,821
DIVERSIFIED FINANCIAL SERVICES – 0.8%
Bank of America Corp., Sr. Unsecured, 2.00%, 1/11/18		50,000		49,850
Citigroup, Inc., Sr. Unsecured, 6.00%, 8/15/17		100,000		106,286
FMR LLC, Sr. Unsecured, 6.45%, 11/15/39^W		100,000		125,622
Hyundai Capital America, Sr. Unsecured, 1.88%, 8/09/16^W		25,000		25,086
Morgan Stanley, Sr. Unsecured, 1.64%, 2/25/16^r		35,000		35,016
Morgan Stanley, Subordinated, GMTN, 4.35%, 9/08/26		10,000		10,051
TD Ameritrade Holding Corp., Sr. Unsecured, 2.95%, 4/01/22		18,000		18,275

TOTAL DIVERSIFIED FINANCIAL SERVICES			$	370,186
ELECTRIC – 0.5%
Appalachian Power Co., Sr. Unsecured, 5.00%, 6/01/17		35,000		36,543
DTE Energy Co., Sr. Unsecured, 3.85%, 12/01/23		10,000		10,440
Entergy Corp., Sr. Unsecured, 5.13%, 9/15/20		90,000		97,985
Pacific Gas & Electric Co., Sr. Unsecured, 3.75%, 2/15/24		20,000		21,006
UIL Holdings Corp., Sr. Unsecured, 4.63%, 10/01/20		70,000		74,881

TOTAL ELECTRIC			$	240,855


Description	Par Value		Value
ELECTRONICS – 0.0%**
Thermo Fisher Scientific, Inc., Sr. Unsecured, 3.30%, 2/15/22	$	20,000	$	20,351
ENVIRONMENTAL CONTROL – 0.3%
Waste Management, Inc., Company Guaranteed, 2.60%, 9/01/16		60,000		60,455
Waste Management, Inc., Company Guaranteed, 3.50%, 5/15/24		35,000		34,826
Waste Management, Inc., Company Guaranteed, 4.10%, 3/01/45		25,000		24,049

TOTAL ENVIRONMENTAL CONTROL			$	119,330
HEALTH CARE PROVIDERS & SERVICES – 0.1%
UnitedHealth Group, Inc., Sr. Unsecured, 2.75%, 2/15/23		25,000		25,001
HOME FURNISHINGS – 0.2%
Whirlpool Corp., Sr. Unsecured, 4.70%, 6/01/22		65,000		70,778
Whirlpool Corp., Sr. Unsecured, MTN, 5.15%, 3/01/43		10,000		10,295

TOTAL HOME FURNISHINGS			$	81,073
HOUSEHOLD PRODUCTS – 0.1%
Tupperware Brands Corp., Company Guaranteed, 4.75%, 6/01/21^#		60,000		62,842
INSURANCE – 0.4%
Aon PLC, Company Guaranteed, 4.00%, 11/27/23		40,000		41,753
CNA Financial Corp., Sr. Unsecured, 3.95%, 5/15/24		35,000		35,557
WR Berkley Corp., Sr. Unsecured, 4.63%, 3/15/22		60,000		64,079
WR Berkley Corp., Sr. Unsecured, 4.75%, 8/01/44		45,000		45,203

TOTAL INSURANCE			$	186,592
MEDIA – 0.2%
CBS Corp., Company Guaranteed, 4.60%, 1/15/45		25,000		21,530
Time Warner, Inc., Company Guaranteed, 4.85%, 7/15/45		25,000		22,774
Viacom, Inc., Sr. Unsecured, 2.50%, 12/15/16		60,000		60,253
Walt Disney Co., Sr. Unsecured, GMTN, 4.13%, 6/01/44		10,000		10,174

TOTAL MEDIA			$	114,731
METALS & MINING – 0.1%
Rio Tinto Finance USA Ltd., Company Guaranteed, 9.00%, 5/01/19		60,000		69,644
MISCELLANEOUS MANUFACTURING – 0.1%
Illinois Tool Works, Inc., Sr. Unsecured, 3.50%, 3/01/24		45,000		47,265


Description	Par Value		Value
Textron, Inc., Sr. Unsecured, 3.65%, 3/01/21	$	20,000	$	20,551

TOTAL MISCELLANEOUS MANUFACTURING			$	67,816
OFFICE/BUSINESS EQUIPMENT – 0.1%
Xerox Corp., Sr. Unsecured, 2.75%, 3/15/19		30,000		29,233
OIL & GAS – 0.4%
BP Capital Markets PLC, Company Guaranteed, 2.50%, 11/06/22		50,000		46,558
Exxon Mobil Corp., Sr. Unsecured, 1.82%, 3/15/19		30,000		30,202
Marathon Oil Corp., Sr. Unsecured, 2.80%, 11/01/22		45,000		30,473
Marathon Petroleum Corp., Sr. Unsecured, 3.63%, 9/15/24		20,000		17,707
Murphy Oil Corp., Sr. Unsecured, 5.13%, 12/01/42		70,000		37,450
Phillips 66, Company Guaranteed, 4.30%, 4/01/22		20,000		20,478
Valero Energy Corp., Sr. Unsecured, 4.90%, 3/15/45		10,000		8,187

TOTAL OIL & GAS			$	191,055
PHARMACEUTICALS – 0.1%
AbbVie, Inc., Sr. Unsecured, 4.40%, 11/06/42		20,000		18,855
Medco Health Solutions, Inc., Company Guaranteed, 4.13%, 9/15/20		20,000		21,131

TOTAL PHARMACEUTICALS			$	39,986
PIPELINES – 0.2%
Energy Transfer Partners LP, Sr. Unsecured, 3.60%, 2/01/23		35,000		28,507
ONEOK Partners LP, Company Guaranteed, 6.20%, 9/15/43		45,000		33,511
Spectra Energy Partners LP, Sr. Unsecured, 4.50%, 3/15/45		25,000		19,135

TOTAL PIPELINES			$	81,153
REAL ESTATE INVESTMENT TRUSTS – 1.0%
American Tower Corp., Sr. Unsecured, 5.00%, 2/15/24		15,000		16,044
CommonWealth REIT, Sr. Unsecured, 6.65%, 1/15/18		100,000		106,199
Digital Realty Trust LP, Company Guaranteed, 5.88%, 2/01/20		100,000		111,147
HCP, Inc., Sr. Unsecured, 4.20%, 3/01/24		15,000		15,123
Health Care REIT, Inc., Sr. Unsecured, 4.70%, 9/15/17		100,000		104,128
Healthcare Realty Trust, Inc., Sr. Unsecured, 3.75%, 4/15/23		40,000		39,875
Healthcare Realty Trust, Inc., Sr. Unsecured, 3.88%, 5/01/25		15,000		14,925


Description	Par Value		Value
ProLogis LP, Company Guaranteed, 3.35%, 2/01/21	$	35,000	$	35,827

TOTAL REAL ESTATE INVESTMENT TRUSTS			$	443,268
RETAIL – 0.1%
CVS Caremark Corp., Sr. Unsecured, 5.75%, 6/01/17^#		30,000		31,731
SEMICONDUCTORS – 0.1%
Intel Corp., Sr. Unsecured, 2.70%, 12/15/22		35,000		35,219
TELECOMMUNICATIONS – 0.3%
AT&T, Inc., Sr. Unsecured, 1.40%, 12/01/17		35,000		34,900
AT&T, Inc., Sr. Unsecured, 4.50%, 5/15/35		15,000		13,592
AT&T, Inc., FRN, Sr. Unsecured, 1.32%, 11/27/18^D		55,000		55,091
Verizon Communications, Inc., Sr. Unsecured, 6.40%, 9/15/33		35,000		39,756

TOTAL TELECOMMUNICATIONS			$	143,339
TRANSPORTATION – 0.2%
FedEx Corp., Company Guaranteed, 3.88%, 8/01/42		30,000		26,144
FedEx Corp., Company Guaranteed, 4.10%, 2/01/45		15,000		13,515
Ryder System, Inc., Sr. Unsecured, MTN, 2.50%, 3/01/18		55,000		55,156

TOTAL TRANSPORTATION			$	94,815
TRUCKING & LEASING – 0.0%**
GATX Corp., Sr. Unsecured, 5.20%, 3/15/44		20,000		19,763

TOTAL CORPORATE BONDS (COST $3,185,667)			$	3,182,694
ENHANCED EQUIPMENT TRUST CERTIFICATES – 0.3%
AIRLINES – 0.3%
Continental Airlines 2009-2, Series A, Pass-Through Certificates, 7.25%, 11/10/19		57,642		65,171
Delta Air Lines, 2007-1, Series A, Pass-Through Certificates, 6.82%, 8/10/22		46,490		53,492

TOTAL AIRLINES			$	118,663

TOTAL ENHANCED EQUIPMENT TRUST CERTIFICATES (COST $103,469)			$	118,663
MORTGAGE-BACKED SECURITIES – 4.9%
FEDERAL HOME LOAN MORTGAGE CORPORATION (FHLMC) – 2.6%
Pool A15865, 5.50%, 11/01/33		52,546		58,381
Pool A19412, 5.00%, 3/01/34		149,314		166,788
Pool C00478, 8.50%, 9/01/26		2,008		2,360


Description	Par Value		Value
Pool C03517, 4.50%, 9/01/40	$	40,647	$	44,276
Pool C03849, 3.50%, 4/01/42		60,582		63,434
Pool C04305, 3.00%, 11/01/42		201,463		205,631
Pool C09020, 3.50%, 11/01/42		194,714		203,869
Pool G05774, 5.00%, 1/01/40		297,357		328,301
Pool G07889, 3.50%, 8/01/43		45,626		47,745
Pool Q23891, 4.00%, 12/01/43		68,732		73,551

TOTAL FEDERAL HOME LOAN MORTGAGE CORPORATION (FHLMC)			$	1,194,336
FEDERAL NATIONAL MORTGAGE ASSOCIATION (FNMA) – 2.1%
Pool 326445, 0.88%, 5/21/18		165,000		164,721
Pool 533246, 7.50%, 4/01/30		4,863		5,025
Pool 580676, 1.63%, 11/27/18		165,000		167,971
Pool AB4089, 3.00%, 12/01/26		40,074		41,975
Pool AJ4050, 4.00%, 10/01/41		128,907		138,169
Pool AL6325, 3.00%, 10/01/44		79,729		81,526
Pool AS0302, 3.00%, 8/01/43		83,804		85,693
Pool AT7899, 3.50%, 7/01/43		86,144		90,324
Pool AX5302, 4.00%, 1/01/42		39,045		41,864
Pool G60038, 3.50%, 1/01/44		152,501		159,575

TOTAL FEDERAL NATIONAL MORTGAGE ASSOCIATION (FNMA)			$	976,843
GOVERNMENT NATIONAL MORTGAGE ASSOCIATION (GNMA) – 0.2%
Pool 354677, 7.50%, 10/15/23		16,009		18,904
Pool 354765, 7.00%, 2/15/24		20,256		23,922
Pool 354827, 7.00%, 5/15/24		21,355		23,960

TOTAL GOVERNMENT NATIONAL MORTGAGE ASSOCIATION (GNMA)			$	66,786

TOTAL MORTGAGE-BACKED SECURITIES (COST $2,191,335)			$	2,237,965
U.S. TREASURY – 5.2%
U.S. TREASURY BONDS – 1.1%
3.00%, 11/15/44		53,000		55,697
3.00%, 11/15/45		8,000		8,410
3.13%, 8/15/44		11,000		11,855
3.38%, 5/15/44		139,000		157,150
3.63%, 2/15/44		87,000		103,064
4.38%, 5/15/40		120,000		158,170
4.75%, 2/15/37		21,000		29,077

TOTAL U.S. TREASURY BONDS			$	523,423
U.S. TREASURY NOTES – 4.1%
0.63%, 9/30/17		40,000		39,903
0.88%, 10/15/17		360,000		360,593
1.50%, 12/31/18		87,000		88,314
1.50%, 3/31/19		100,000		101,465
1.50%, 11/30/19		40,000		40,493


Description	Par Value		Value
1.63%, 11/15/22	$	96,000	$	95,910
2.00%, 10/31/21		165,000		169,531
2.00%, 2/15/25		115,000		116,030
2.00%, 8/15/25		35,000		35,243
2.13%, 6/30/22		175,000		180,605
2.13%, 5/15/25		140,000		142,633
2.13%, 8/31/20		115,000		119,146
2.25%, 11/15/24		80,000		82,454
2.25%, 11/15/25		5,000		5,146
2.38%, 8/15/24		55,000		57,288
3.50%, 5/15/20		100,000		109,277
4.50%, 2/15/16		30,000		30,050
4.50%, 5/15/17		100,000		104,850

TOTAL U.S. TREASURY NOTES			$	1,878,931

TOTAL U.S. TREASURY (COST $2,298,288)			$	2,402,354


	Number of Shares
MONEY MARKET FUND – 1.1%
Dreyfus Cash Management Fund, Institutional Shares, 0.28%^{^}		488,636	$	488,636

TOTAL MONEY MARKET FUND (COST $488,636)			$	488,636

TOTAL INVESTMENTS IN SECURITIES – 100.0% (COST $46,601,614)			$	45,942,939


Description	Par Value		Value
CASH COLLATERAL INVESTED FOR SECURITIES ON LOAN – 2.3%
REPURCHASE AGREEMENTS – 2.3%
Citigroup Global Markets, Inc., 0.34%, dated 1/29/16, due 2/01/16, repurchase price $203,012, collateralized by U.S. Government & Treasury Securities 0.00% to 9.50%, maturing 7/05/16 to 3/20/62; total market value of $207,066.	$	203,006	$	203,006
Daiwa Capital Markets America, 0.38%,dated 1/29/16, due 2/01/16, repurchase price $203,012, collateralized by U.S. Government & Treasury Securities 0.00% to 7.25%, maturing 3/23/16 to 2/01/49; total market value of $207,066.		203,006		203,006
HSBC Securities USA, Inc., 0.30%, dated 1/29/16, due 2/01/16, repurchase price $12,732, collateralized by U.S. Government Securities 0.00% to 7.25%, maturing 2/22/16 to 7/15/37; total market value of $12,987.		12,732		12,732


Description	Par Value		Value
HSBC Securities USA, Inc., 0.31%, dated 1/29/16, due 02/01/16, repurchase price $40,681, collateralized by U.S. Government Securities 2.50% to 6.00%, maturing 4/15/19 to 1/01/46; total market value of $41,494.	$	40,680	$	40,680
Merrill Lynch, Pierce, Fenner & Smith, Inc., 0.34%, dated 1/29/16, due 2/01/16, repurchase price $203,012, collateralized by U.S. Government Securities 0.00% to 7.60%, maturing 2/01/16 to 9/20/61; total market value of $207,066.		203,006		203,006
Mizuho Securities USA, Inc., 0.35%, dated 1/29/16, due 2/01/16, repurchase price $203,012, collateralized by U.S. Government Securities 0.00% to 7.50%, maturing 10/01/16 to 7/01/43; total market value of $207,066.		203,006		203,006
RBC Capital Markets LLC, 0.33% dated 1/29/16 due 2/01/16 repurchase price $203,012, collateralized by U.S. Government Securities 2.20% to 5.00%, maturing 5/01/26 to 12/20/45; total market value of $207,066.		203,006		203,006

TOTAL REPURCHASE AGREEMENTS			$	1,068,442

TOTAL CASH COLLATERAL INVESTED FOR SECURITIES ON LOAN (COST $1,068,442)			$	1,068,442

Cost of investments for Federal income tax purposes is $48,308,307. The net unrealized appreciation/(depreciation) of investments was ($1,296,926). This consists of net unrealized appreciation from investment for those securities having an excess of value over cost of $1,548,680 and net unrealized depreciation from investments for those securities having an excess of cost over value of $2,845,606.

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

Level 2 – other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.)

Level 3 – significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments)

The following is a summary of the inputs used as of January 31, 2016 in valuing the Fund’s assets carried at fair value:


Description	Number of Shares		Value
INVESTMENT COMPANIES – 96.2%
ALTERNATIVE INVESTMENT FUNDS – 8.1%
AQR Managed Futures Strategy Fund, Class I		135,814	$	1,411,103
Highland Long/Short Equity, Class Z		75,422		832,659

TOTAL ALTERNATIVE INVESTMENT FUNDS			$	2,243,762
EQUITY FUNDS – 79.1%
DFA U.S. Small Cap Value Portfolio, Institutional Class		9,008		254,939
Diamond Hill Large Cap Fund, Class Y		54,500		1,104,713
Harbor International Fund, Institutional Shares		17,118		961,184
iShares Currency Hedged MSCI		15,300		376,227
Janus Enterprise, Class I		18,477		1,502,587
LSV Value Equity Fund, Class I		52,750		1,122,000
Morgan Stanley Institutional Fund, Inc. - Growth Portfolio, Class I		54,840		2,004,948
T Rowe Price Institutional Large-Cap Growth Fund, Class I		77,461		2,017,078
Wilmington Large-Cap Strategy Fund, Class I^§		322,192		5,103,526
Wilmington Multi-Manager International Fund, Class I^§		1,035,149		6,852,683
WisdomTree Japan Hedged Equity Fund		10,100		480,356

TOTAL EQUITY FUNDS			$	21,780,241


Description	Number of Shares		Value
EXCHANGE-TRADED FUNDS – 9.0%
iShares Cohen & Steers REIT ETF		3,171	$	302,799
iShares Russell Mid-Cap Value		17,025		1,104,923
iShares TIPS ETF		6,862		764,427
SPDR Dow Jones International Real Estate ETF		7,890		298,873

TOTAL EXCHANGE-TRADED FUNDS			$	2,471,022

TOTAL INVESTMENT COMPANIES (COST $25,399,924)			$	26,495,025
MONEY MARKET FUND – 3.9%
Dreyfus Cash Management Fund, Institutional Shares, 0.28%^{^}		1,074,480		1,074,480

TOTAL MONEY MARKET FUND (COST $1,074,480)			$	1,074,480

TOTAL INVESTMENTS – 100.1% (COST $26,474,404)			$	27,569,505
OTHER LIABILITIES LESS ASSETS – (0.1%)**				(15,716	)

TOTAL NET ASSETS – 100.0%			$	27,553,789

Cost of investments for Federal income tax purposes is $30,313,832. The net unrealized appreciation/(depreciation) of investments was ($2,744,327). This consists of net unrealized appreciation from investment for those securities having an excess of value over cost of $2,393,849 and net unrealized depreciation from investments for those securities having an excess of cost over value of $5,138,176.

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

Level 2 – other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.)

Level 3 – significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments)

The following is a summary of the inputs used as of January 31, 2016 in valuing the Fund’s assets carried at fair value:


Description	Par Value		Value
ASSET-BACKED SECURITIES – 0.2%
FINANCIAL SERVICES – 0.2%
LA Arena Funding LLC, Series 1999-1, Class A, 7.66%, 12/15/26^Ώ	$	672,349	$	754,129
WHOLE LOAN – 0.0%**
SLM Private Education Loan Trust, Series 2011-A, Class A1, 1.20%, 10/15/24^D,Ώ		71,877		71,968

TOTAL ASSET-BACKED SECURITIES (COST $744,226)			$	826,097
COLLATERALIZED MORTGAGE OBLIGATIONS – 1.4%
COMMERCIAL MORTGAGE-BACKED SECURITIES (CMBS) – 0.1%
JPMorgan Chase Commercial Mortgage Securities Trust, Series 2007-CIBC18, Class A4, 5.44%, 6/12/47		529,484		540,842
FEDERAL HOME LOAN MORTGAGE CORPORATION (FHLMC) – 0.4%
3.50%, 5/01/45		1,459,425		1,526,240
FEDERAL NATIONAL MORTGAGE ASSOCIATION (FNMA) – 0.5%
Series 1988-23, Class C, 9.75%, 9/25/18		1,452		1,552
Series 2005-29, Class WC, 4.75%, 4/25/35		41,467		45,491
Series 2012-114, Class VM, 3.50%, 10/25/25		2,116,678		2,245,299

TOTAL FEDERAL NATIONAL MORTGAGE ASSOCIATION (FNMA)			$	2,292,342
WHOLE LOAN – 0.4%
Banc of America Mortgage Securities, Inc., Series 2004-A, Class 2A1, 1.20%, 2/25/34^D		195,418		192,935
Countrywide Home Loan Mortgage Pass-Through Trust, Series 2004-8, Class 2A1, 4.50%, 6/25/19		323,117		325,469
IndyMac INDA Mortgage Loan Trust, Series 2005-AR1, Class 2A1, 2.75%, 11/25/35^D		491,104		446,703
WaMu Mortgage Pass-Through Certificates, Series 2004-CB1, Class 1A, 5.25%, 6/25/19		549,342		562,481

TOTAL WHOLE LOAN			$	1,527,588

TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (COST $6,058,892)			$	5,887,012
CORPORATE BONDS – 42.6%
AEROSPACE & DEFENSE – 1.1%
L-3 Communications Corp., Company Guaranteed, 3.95%, 11/15/16		1,735,000		1,759,512


Description	Par Value		Value
L-3 Communications Corp., Company Guaranteed, 4.75%, 7/15/20	$	1,000,000	$	1,054,053
Lockheed Martin Corp., Sr. Unsecured, 4.70%, 5/15/46		975,000		1,037,027
Textron, Inc., Sr. Unsecured, 3.88%, 3/01/25		750,000		751,445

TOTAL AEROSPACE & DEFENSE			$	4,602,037
AUTOMOTIVE – 1.7%
Daimler Finance North America LLC, Company Guaranteed, 3.88%, 9/15/21^Ώ		250,000		260,633
Ford Motor Credit Co., LLC, Sr. Unsecured, 3.00%, 6/12/17		1,200,000		1,210,930
Ford Motor Credit Co., LLC, Sr. Unsecured, 6.63%, 8/15/17		250,000		265,713
Ford Motor Credit Co., LLC, Sr. Unsecured, 2.15%, 1/09/18		650,000		646,229
Ford Motor Credit Co., LLC, Sr. Unsecured, 5.75%, 2/01/21		500,000		547,199
Ford Motor Credit Co., LLC, Sr. Unsecured, 4.25%, 9/20/22		450,000		463,631
General Motors Co., Inc., Sr. Unsecured, 6.25%, 10/02/43		2,000,000		2,010,000
General Motors Financial Co., Inc., Company Guaranteed, 2.75%, 5/15/16		600,000		602,250
General Motors Financial Co., Inc., Company Guaranteed, 4.75%, 8/15/17		300,000		307,687
Hyundai Capital America, Sr. Unsecured, 1.88%, 8/09/16^Ώ		575,000		576,987

TOTAL AUTOMOTIVE			$	6,891,259
BEVERAGES – 0.5%
Anheuser-Busch InBev Finance, Inc., Company Guaranteed, 4.90%, 2/01/46		1,125,000		1,168,158
Dr. Pepper Snapple Group, Company Guaranteed, 2.60%, 1/15/19^D		1,000,000		1,017,849

TOTAL BEVERAGES			$	2,186,007
BIOTECHNOLOGY – 1.1%
Amgen, Inc., Sr. Unsecured, 4.40%, 5/01/45		1,180,000		1,102,451
Celgene Corp., Sr. Unsecured, 2.25%, 5/15/19		1,500,000		1,505,944
Celgene Corp., Sr. Unsecured, 4.63%, 5/15/44		1,390,000		1,313,237
Gilead Sciences, Inc., Sr. Unsecured, 4.60%, 9/01/35		650,000		663,398

TOTAL BIOTECHNOLOGY			$	4,585,030


Description	Par Value		Value
CAPITAL MARKETS – 0.7%
BlackRock, Inc., Series 2, Sr. Unsecured, 5.00%, 12/10/19	$	250,000	$	281,862
Charles Schwab Corp., Sr. Unsecured, 2.20%, 7/25/18		1,370,000		1,383,763
Charles Schwab Corp., Sr. Unsecured, 4.45%, 7/22/20		250,000		275,899
Raymond James Financial, Sr. Unsecured, 4.25%, 4/15/16		1,000,000		1,006,113

TOTAL CAPITAL MARKETS			$	2,947,637
COMMERCIAL BANKS – 6.2%
BB&T Corp., Sr. Unsecured, MTN, 3.20%, 3/15/16		700,000		700,992
BB&T Corp., Sr. Unsecured, MTN, 2.45%, 1/15/20		1,640,000		1,663,543
Branch Banking & Trust Co., Subordinated, 3.80%, 10/30/26		1,000,000		1,038,972
Capital One Financial Corp., Sr. Unsecured, 2.45%, 4/24/19		750,000		750,937
Capital One NA/Mclean VA, Sr. Unsecured, BKNT, 1.65%, 2/05/18		680,000		675,428
Citigroup, Inc., Sr. Unsecured, 1.70%, 4/27/18		1,685,000		1,673,315
Commonwealth Bank of Australia, Sr. Unsecured, 0.74%, 3/12/18^{D ,Ώ}		1,000,000		995,578
Fifth Third Bancorp, Sr. Unsecured, 3.50%, 3/15/22		1,250,000		1,295,682
Fifth Third Bancorp, Subordinated, 4.30%, 1/16/24		530,000		551,940
Fifth Third Bank/Cincinnati OH, Sr. Unsecured, 1.35%, 6/01/17		1,000,000		998,832
Goldman Sachs Group, Inc., Sr. Unsecured, 1.48%, 4/23/20^D		425,000		422,820
Goldman Sachs Group, Inc., Sr. Unsecured, 1.54%, 9/15/20^D		1,425,000		1,419,391
JPMorgan Chase & Co., Sr. Unsecured, 1.70%, 3/01/18		1,600,000		1,596,626
KeyBank NA/Cleveland OH, Sr. Unsecured, BKNT, 1.10%, 11/25/16		1,000,000		1,002,590
Keycorp, Sr. Unsecured, 2.90%, 9/15/20		750,000		756,963
PNC Bank NA, Sr. Unsecured, 2.40%, 10/18/19		1,500,000		1,517,081
PNC Bank NA, Subordinated Note, 2.95%, 1/30/23		350,000		346,412
PNC Financial Services Group, Inc., Subordinated, 3.90%, 4/29/24		1,500,000		1,567,241
SunTrust Banks, Inc., Sr. Unsecured, 2.50%, 5/01/19		2,000,000		2,024,371
US Bancorp/MN, Subordinated, MTN, 2.95%, 7/15/22		2,000,000		2,022,953
US Bank NA/Cincinnati OH, Sr. Unsecured, BKNT, 2.13%, 10/28/19		2,000,000		2,018,376


Description	Par Value		Value
Wells Fargo & Co., Sr. Unsecured, 3.68%, 6/15/16^D	$	500,000	$	505,360

TOTAL COMMERCIAL BANKS			$	25,545,403
COMMERCIAL FINANCE – 0.1%
General Electric Capital Corp., Subordinated Note, 5.30%, 2/11/21		250,000		285,259
COMPUTERS – 0.4%
Apple, Inc., Sr. Unsecured, 1.05%, 5/05/17		1,580,000		1,585,047
CONSUMER FINANCE – 0.2%
American Express Co., Sr. Unsecured, 0.92%, 5/22/18^D		655,000		651,093
DIVERSIFIED FINANCIAL SERVICES – 2.4%
Bank of America Corp., Sr. Unsecured, 6.50%, 8/01/16		1,250,000		1,283,232
Bank of America Corp., Sr. Unsecured, 2.00%, 1/11/18		1,275,000		1,271,172
Bank of America Corp., Sr. Unsecured, MTN, 1.39%, 3/22/18^D		1,500,000		1,502,465
Bank of America Corp., Subordinated, MTN, 4.25%, 10/22/26		1,000,000		986,448
Citigroup, Inc., Sr. Unsecured, 6.13%, 5/15/18		275,000		300,227
FMR LLC, Sr. Unsecured, 6.45%, 11/15/39^Ώ		1,000,000		1,256,224
JPMorgan Chase & Co., Sr. Unsecured, 6.00%, 1/15/18		150,000		161,811
JPMorgan Chase & Co., Sr. Unsecured, 4.63%, 5/10/21		100,000		109,010
JPMorgan Chase Capital XXIII, Limited Guarantee, 1.32%, 5/15/47^D		1,000,000		740,000
Morgan Stanley, Sr. Unsecured, 1.58%, 2/25/16^D		1,050,000		1,050,482
Morgan Stanley, Subordinated, GMTN, 4.35%, 9/08/26		505,000		507,569
TD Ameritrade Holding Corp., Sr. Unsecured, 2.95%, 4/01/22		847,000		859,930

TOTAL DIVERSIFIED FINANCIAL SERVICES			$	10,028,570
ELECTRIC – 2.5%
CMS Energy Corp., Sr. Unsecured, 6.55%, 7/17/17		300,000		322,366
Dominion Resources, Inc./VA, Sr. Unsecured, 1.25%, 3/15/17		960,000		956,412
Dominion Resources, Inc./VA, Sr. Unsecured, 2.50%, 12/01/19		1,500,000		1,510,692
DTE Energy Co., Sr. Unsecured, 3.85%, 12/01/23		305,000		318,421
Entergy Arkansas, Inc., 1st Mortgage, 4.95%, 12/15/44		1,000,000		1,016,212
Entergy Corp., Sr. Unsecured, 5.13%, 9/15/20		1,300,000		1,415,332
Exelon Generation Co. LLC, Sr. Unsecured, 6.20%, 10/01/17		650,000		691,293


Description	Par Value		Value
FirstEnergy Corp., Series A, Sr. Unsecured, 2.75%, 3/15/18	$	1,285,000	$	1,299,822
FirstEnergy Transmission LLC, Sr. Unsecured, 4.35%, 1/15/25^Ώ		2,250,000		2,313,949
System Energy Resources, Inc., 1st Mortgage, 4.10%, 4/01/23		500,000		509,956

TOTAL ELECTRIC			$	10,354,455
ELECTRONICS – 0.3%
Thermo Fisher Scientific, Inc., Sr. Unsecured, 3.30%, 2/15/22		1,100,000		1,119,330
ENVIRONMENTAL CONTROL – 1.0%
Waste Management, Inc., Company Guaranteed, 2.60%, 9/01/16		1,465,000		1,476,100
Waste Management, Inc., Company Guaranteed, 3.50%, 5/15/24		1,255,000		1,248,760
Waste Management, Inc., Company Guaranteed, 4.10%, 3/01/45		1,520,000		1,462,191

TOTAL ENVIRONMENTAL CONTROL			$	4,187,051
FOOD – 0.8%
Kraft Foods Group, Inc., Company Guaranteed, 2.25%, 6/05/17		2,000,000		2,020,359
Kraft Heinz Foods Co., Company Guaranteed, 1.60%, 6/30/17^Ώ		850,000		849,894
Kraft Heinz Foods Co., Company Guaranteed, 5.20%, 7/15/45^Ώ		500,000		528,808

TOTAL FOOD			$	3,399,061
FOOD PRODUCTS – 0.8%
General Mills, Inc., Sr. Unsecured, 1.40%, 10/20/17		2,000,000		2,001,047
McCormick & Co., Inc., Sr. Unsecured, 5.75%, 12/15/17		500,000		540,906
McCormick & Co., Inc., Sr. Unsecured, 3.90%, 7/15/21		500,000		541,301
WM Wrigley Jr. Co., Sr. Unsecured, 1.40%, 10/21/16^Ώ		125,000		125,083

TOTAL FOOD PRODUCTS			$	3,208,337
FOOD RETAILING – 0.6%
Kroger Co., Sr. Unsecured, 2.95%, 11/01/21		1,750,000		1,776,904
Kroger Co., Sr. Unsecured, 8.00%, 9/15/29		500,000		670,616

TOTAL FOOD RETAILING			$	2,447,520
HEALTH CARE PROVIDERS & SERVICES – 0.2%
UnitedHealth Group, Inc., Sr. Unsecured, 6.00%, 6/15/17		250,000		266,042
UnitedHealth Group, Inc., Sr. Unsecured, 1.40%, 12/15/17		450,000		450,836
UnitedHealth Group, Inc., Sr. Unsecured, 3.95%, 10/15/42		290,000		277,020

TOTAL HEALTH CARE PROVIDERS & SERVICES			$	993,898


Description	Par Value		Value
HOME FURNISHINGS – 0.5%
Whirlpool Corp., Sr. Unsecured, 6.50%, 6/15/16	$	350,000	$	356,173
Whirlpool Corp., Sr. Unsecured, 4.70%, 6/01/22		1,500,000		1,633,328
Whirlpool Corp., Sr. Unsecured, MTN, 5.15%, 3/01/43		210,000		216,185

TOTAL HOME FURNISHINGS			$	2,205,686
HOUSEHOLD PRODUCTS – 0.2%
Becton Dickinson and Co., Sr. Unsecured, 1.80%, 12/15/17		670,000		670,869
INSURANCE – 2.2%
Aon PLC, Sr. Unsecured, 4.00%, 11/27/23		1,450,000		1,513,533
Berkshire Hathaway Finance Corp., Company Guaranteed, 4.30%, 5/15/43		425,000		419,203
CNA Financial Corp., Sr. Unsecured, 5.75%, 8/15/21		1,000,000		1,131,915
CNA Financial Corp., Sr. Unsecured, 3.95%, 5/15/24		950,000		965,123
Lincoln National Corp., Sr. Unsecured, 4.20%, 3/15/22		1,000,000		1,047,508
Principal Financial Group, Inc., Company Guaranteed, 3.30%, 9/15/22		250,000		254,549
Prudential Financial, Inc., Sr. Unsecured, MTN, 3.00%, 5/12/16		1,000,000		1,005,297
WR Berkley Corp., Sr. Unsecured, 4.63%, 3/15/22		1,000,000		1,067,991
WR Berkley Corp., Sr. Unsecured, 4.75%, 8/01/44		1,715,000		1,722,724

TOTAL INSURANCE			$	9,127,843
MEDIA – 2.0%
CBS Corp., Company Guaranteed, 1.95%, 7/01/17		2,000,000		2,009,475
CBS Corp., Company Guaranteed, 4.60%, 1/15/45		1,100,000		947,302
CCO Safari II LLC, Sr. Secured, 3.57%, 7/23/20^Ώ		1,500,000		1,508,594
NBCUniversal Enterprise, Inc., Company Guaranteed, 0.86%, 4/15/16^D,Ώ		420,000		420,261
Time Warner, Inc., Company Guaranteed, 4.85%, 7/15/45		1,190,000		1,084,053
Viacom, Inc., Sr. Unsecured, 5.63%, 9/15/19		1,000,000		1,079,536
Viacom, Inc., Sr. Unsecured, 5.25%, 4/01/44		1,000,000		797,096
Walt Disney Co., Sr. Unsecured, GMTN, 4.13%, 6/01/44		565,000		574,850

TOTAL MEDIA			$	8,421,167
METALS & MINING – 0.4%
Alcoa, Inc., Sr. Unsecured, 5.13%, 10/01/24^#		1,000,000		823,125


Description	Par Value		Value
Barrick Gold Corp., Sr. Unsecured, 5.25%, 4/01/42	$	1,000,000	$	671,964

TOTAL METALS & MINING			$	1,495,089
MISCELLANEOUS MANUFACTURING – 0.7%
GE Capital Trust I, Limited Guaranteed, 6.38%, 11/15/67^D		1,000,000		1,080,000
Ingersoll-Rand Luxembourg Finance SA, Company Guaranteed, 2.63%, 5/01/20		1,135,000		1,128,871
John Deere Capital Corp., Sr. Unsecured, MTN, 1.40%, 3/15/17		250,000		250,916
Textron, Inc., Sr. Unsecured, 3.65%, 3/01/21		480,000		493,235

TOTAL MISCELLANEOUS MANUFACTURING			$	2,953,022
OIL & GAS – 2.7%
Anadarko Finance Co., Series B, Company Guaranteed, 7.50%, 5/01/31		1,000,000		895,712
Anadarko Petroleum Corp., Sr. Unsecured, 5.95%, 9/15/16		225,000		228,399
Anadarko Petroleum Corp., Sr. Unsecured, 6.38%, 9/15/17		1,190,000		1,202,716
Canadian Natural Resources Ltd., Sr. Unsecured, 7.03%, 3/30/16		1,000,000		995,747
Exxon Mobil Corp., Sr. Unsecured, 1.82%, 3/15/19		925,000		931,229
Marathon Petroleum Corp., Sr. Unsecured, 3.63%, 9/15/24		745,000		659,570
Murphy Oil Corp., Sr. Unsecured, 5.13%, 12/01/42		1,000,000		535,000
Nabors Industries, Inc., Company Guaranteed, 2.35%, 9/15/16		800,000		786,431
Nabors Industries, Inc., Company Guaranteed, 4.63%, 9/15/21		500,000		368,438
ONEOK Partners LP, Company Guaranteed, 6.20%, 9/15/43		1,000,000		744,699
Phillips 66, Company Guaranteed, 4.30%, 4/01/22^Ώ		1,450,000		1,484,664
Schlumberger Holdings Corp., Sr. Unsecured, 4.00%, 12/21/25^Ώ		1,500,000		1,464,096
Sempra Energy, Sr. Unsecured, 6.50%, 6/01/16		500,000		506,973
Valero Energy Corp., Sr. Unsecured, 4.90%, 3/15/45		563,000		460,904

TOTAL OIL & GAS			$	11,264,578
PHARMACEUTICALS – 1.2%
AbbVie, Inc., Sr. Unsecured, 1.75%, 11/06/17		1,000,000		999,841
AbbVie, Inc., Sr. Unsecured, 4.40%, 11/06/42		460,000		433,662
Actavis Funding SCS, Company Guaranteed, 1.30%, 6/15/17		1,500,000		1,493,641


Description	Par Value		Value
McKesson Corp., Sr. Unsecured, 1.29%, 3/10/17	$	460,000	$	460,065
Medco Health Solutions, Inc., Company Guaranteed, 4.13%, 9/15/20		940,000		993,168
Medtronic, Inc., Sr. Unsecured, 1.50%, 3/15/18		700,000		701,471

TOTAL PHARMACEUTICALS			$	5,081,848
PIPELINES – 2.0%
Energy Transfer Partners LP, Sr. Secured, 2.50%, 6/15/18		1,000,000		915,378
Energy Transfer Partners LP, Sr. Unsecured, 3.60%, 2/01/23		870,000		708,611
Energy Transfer Partners LP, Sr. Unsecured, 4.05%, 3/15/25		1,000,000		821,349
Enterprise Products Operating LLC, Company Guaranteed, 4.95%, 10/15/54		500,000		377,855
Enterprise Products Operating LLC, Series B, Company Guaranteed, 7.03%, 1/15/68^D		2,000,000		2,005,000
Kinder Morgan Energy Partners LP, Sr. Unsecured, 5.40%, 9/01/44		1,000,000		753,980
Kinder Morgan, Inc./DE, Company Guaranteed, 5.05%, 2/15/46		1,000,000		731,957
Plains All American Pipeline LP / PAA Finance Corp., Sr. Unsecured, 3.65%, 6/01/22		1,000,000		858,224
Plains All American Pipeline LP / PAA Finance Corp., Sr. Unsecured, 3.85%, 10/15/23		400,000		335,697
Spectra Energy Partners LP, Sr. Unsecured, 4.50%, 3/15/45		1,125,000		861,063

TOTAL PIPELINES			$	8,369,114
REAL ESTATE INVESTMENT TRUSTS – 4.8%
American Tower Corp., Sr. Unsecured, 3.40%, 2/15/19		2,000,000		2,052,611
American Tower Corp., Sr. Unsecured, 5.00%, 2/15/24		415,000		443,875
AvalonBay Communities, Inc., Sr. Unsecured, 3.63%, 10/01/20		1,145,000		1,205,471
BioMed Realty LP, Company Guaranteed, 3.85%, 4/15/16		1,000,000		1,002,984
CommonWealth REIT, Sr. Unsecured, 6.65%, 1/15/18		500,000		530,995
Digital Delta Holdings, Sr. Unsecured, 3.40%, 10/01/20^Ώ		615,000		623,748
Digital Realty Trust LP, Sr. Unsecured, 3.63%, 10/01/22		1,100,000		1,081,762
HCP, Inc., Sr. Unsecured, 4.00%, 12/01/22		2,000,000		2,023,835
HCP, Inc., Sr. Unsecured, 4.20%, 3/01/24		450,000		453,692
HCP, Inc., Sr. Unsecured, MTN, 6.30%, 9/15/16		500,000		514,350
Health Care REIT, Inc., Sr. Unsecured, 2.25%, 3/15/18		2,000,000		2,006,626


Description	Par Value		Value
Health Care REIT, Inc., Sr. Unsecured, 5.25%, 1/15/22	$	250,000	$	273,881
Healthcare Realty Trust, Inc., Sr. Unsecured, 3.75%, 4/15/23		695,000		692,828
Healthcare Realty Trust, Inc., Sr. Unsecured, 3.88%, 5/01/25		915,000		910,432
Mack-Cali Realty LP, Sr. Unsecured, 2.50%, 12/15/17		2,215,000		2,226,707
Mack-Cali Realty LP, Sr. Unsecured, 7.75%, 8/15/19		250,000		279,170
ProLogis LP, Sr. Unsecured, 2.75%, 2/15/19		450,000		457,701
ProLogis LP, Sr. Unsecured, 3.35%, 2/01/21		1,245,000		1,274,401
Ventas Realty LP, Company Guaranteed, 1.55%, 9/26/16		2,000,000		2,002,976

TOTAL REAL ESTATE INVESTMENT TRUSTS			$	20,058,045
RETAIL – 0.0%**
CVS Caremark Corp., Sr. Unsecured, 5.75%, 6/01/17^#		151,000		159,714
SOFTWARE – 1.4%
HP Enterprise Co., Sr. Unsecured, 2.45%, 10/05/17^Ώ		2,000,000		2,004,255
Microsoft Corp., Sr. Unsecured, 4.75%, 11/03/55		1,000,000		1,006,885
Oracle Corp., Sr. Unsecured, 4.30%, 7/08/34		1,730,000		1,704,797
Xerox Corp., Sr. Unsecured, 2.80%, 5/15/20		1,000,000		950,902

TOTAL SOFTWARE			$	5,666,839
TELECOMMUNICATIONS – 1.7%
AT&T, Inc., Sr. Unsecured, 1.40%, 12/01/17		1,731,000		1,726,060
AT&T, Inc., Sr. Unsecured, 4.50%, 5/15/35		845,000		765,702
Crown Castle Towers LLC, Sr. Secured, 4.17%, 8/15/17^Ώ		2,000,000		2,042,181
Verizon Communications, Inc., Sr. Unsecured, 1.10%, 6/17/19^D		1,000,000		994,069
Verizon Communications, Inc., Sr. Unsecured, 6.40%, 9/15/33		1,260,000		1,431,229

TOTAL TELECOMMUNICATIONS			$	6,959,241
TRANSPORTATION – 1.3%
FedEx Corp., Company Guaranteed, 4.90%, 1/15/34		500,000		532,648
FedEx Corp., Company Guaranteed, 4.10%, 2/01/45		685,000		617,178
Norfolk Southern Corp., Sr. Unsecured, 5.90%, 6/15/19		250,000		279,903
Ryder System, Inc., Sr. Unsecured, MTN, 2.50%, 3/01/17		500,000		505,062
Ryder System, Inc., Sr. Unsecured, MTN, 2.50%, 3/01/18		1,155,000		1,158,280


Description	Par Value		Value
Ryder System, Inc., Sr. Unsecured, MTN, 2.45%, 9/03/19	$	2,450,000	$	2,442,971

TOTAL TRANSPORTATION			$	5,536,042
TRUCKING & LEASING – 0.5%
GATX Corp., Sr. Unsecured, 3.50%, 7/15/16		1,500,000		1,514,679
GATX Corp., Sr. Unsecured, 5.20%, 3/15/44		640,000		632,405
TOTAL TRUCKING & LEASING			$	2,147,084
UTILITIES – 0.4%
Appalachian Power Co., Sr. Unsecured, 5.00%, 6/01/17		1,500,000		1,566,125

TOTAL CORPORATE BONDS (COST $178,639,048)			$	176,699,300
ENHANCED EQUIPMENT TRUST CERTIFICATES – 0.3%
AIRLINES – 0.3%
American Airlines 2011-1, Series A, Pass-Through Certificates, 5.25%, 1/31/21		339,923		359,362
Continental Airlines 2009-2, Series A, Pass-Through Certificates, 7.25%, 11/10/19		180,130		203,659
Delta Air Lines 2007-1, Series A, Pass-Through Certificates, 6.82%, 8/10/22		290,560		334,326
Delta Air Lines 2009-1, Series A, Pass-Through Certificates, 7.75%, 12/17/19		235,967		265,315
United Air Lines 2009-2A, Pass-Through Certificates, 9.75%, 1/15/17		161,593		170,986

TOTAL AIRLINES			$	1,333,648

TOTAL ENHANCED EQUIPMENT TRUST CERTIFICATES (COST $1,208,173)			$	1,333,648
GOVERNMENT AGENCIES – 1.4%
FEDERAL HOME LOAN MORTGAGE CORPORATION (FHLMC) – 0.8%
1.25%, 10/02/19		1,300,000		1,300,624
1.75%, 5/30/19		2,000,000		2,039,982
2.38%, 1/13/22		125,000		130,023

TOTAL FEDERAL HOME LOAN MORTGAGE CORPORATION (FHLMC)			$	3,470,629
FEDERAL NATIONAL MORTGAGE ASSOCIATION (FNMA) – 0.6%
4.88%, 12/15/16		700,000		725,756
6.25%, 5/15/29		750,000		1,059,592
7.25%, 5/15/30		400,000		615,065

TOTAL FEDERAL NATIONAL MORTGAGE ASSOCIATION (FNMA)			$	2,400,413

TOTAL GOVERNMENT AGENCIES (COST $5,497,279)			$	5,871,042


Description	Par Value		Value
MORTGAGE-BACKED SECURITIES – 23.8%
FEDERAL HOME LOAN MORTGAGE CORPORATION (FHLMC) – 10.6%
Pool A13990, 4.50%, 10/01/33	$	49,222	$	53,882
Pool A93415, 4.00%, 8/01/40		2,565,142		2,757,499
Pool A93505, 4.50%, 8/01/40		2,049,087		2,231,773
Pool A93996, 4.50%, 9/01/40		1,596,231		1,738,784
Pool A97047, 4.50%, 2/01/41		1,560,660		1,700,121
Pool B17616, 5.50%, 1/01/20		70,108		71,200
Pool C00478, 8.50%, 9/01/26		18,070		21,240
Pool C01272, 6.00%, 12/01/31		37,439		42,512
Pool C03750, 3.50%, 2/01/42		496,143		519,468
Pool C03849, 3.50%, 4/01/42		242,326		253,737
Pool C04305, 3.00%, 11/01/42		3,549,515		3,622,947
Pool C04444, 3.00%, 1/01/43		128,348		130,997
Pool C09020, 3.50%, 11/01/42		3,682,759		3,855,907
Pool C09044, 3.50%, 7/01/43		1,816,065		1,900,265
Pool E09010, 2.50%, 9/01/27		1,401,521		1,441,853
Pool G01625, 5.00%, 11/01/33		55,268		60,847
Pool G02296, 5.00%, 6/01/36		304,617		334,203
Pool G02390, 6.00%, 9/01/36		10,324		11,711
Pool G03703, 5.50%, 12/01/37		32,416		36,039
Pool G04776, 5.50%, 7/01/38		111,111		123,423
Pool G05317, 5.00%, 4/01/37		1,196,709		1,312,873
Pool G05500, 5.00%, 5/01/39		1,031,568		1,131,946
Pool G06222, 4.00%, 1/01/41		2,767,837		2,968,794
Pool G06956, 4.50%, 8/01/41		1,495,216		1,628,719
Pool G07266, 4.00%, 12/01/42		3,589,041		3,838,265
Pool G07624, 4.00%, 12/01/43		1,544,970		1,657,573
Pool G07680, 4.00%, 4/01/44		2,512,961		2,696,306
Pool G07889, 3.50%, 8/01/43		1,573,545		1,646,625
Pool G08097, 6.50%, 11/01/35		22,683		26,341
Pool G08534, 3.00%, 6/01/43		754,153		769,750
Pool G08595, 4.00%, 7/01/44		1,693,388		1,810,567
Pool G12709, 5.00%, 7/01/22		70,410		73,361
Pool G18497, 3.00%, 1/01/29		179,804		187,740
Pool Q08305, 3.50%, 5/01/42		1,370,325		1,439,416
Pool Q19476, 3.50%, 6/01/43		1,485,090		1,554,074
Pool Q23891, 4.00%, 12/01/43		343,659		367,753

TOTAL FEDERAL HOME LOAN MORTGAGE CORPORATION (FHLMC)			$	44,018,511
FEDERAL NATIONAL MORTGAGE ASSOCIATION (FNMA) – 13.1%
Pool 254007, 6.50%, 10/01/31		21,380		24,900
Pool 254759, 4.50%, 6/01/18		46,659		47,983
Pool 254833, 4.50%, 8/01/18		8,657		8,912
Pool 256515, 6.50%, 12/01/36		27,286		31,617
Pool 256639, 5.00%, 2/01/27		21,320		23,630


Description	Par Value		Value
Pool 256752, 6.00%, 6/01/27	$	33,824	$	38,399
Pool 329794, 7.00%, 2/01/26		36,878		43,173
Pool 402255, 6.50%, 12/01/27		1,651		1,715
Pool 535939, 6.00%, 5/01/16		988		994
Pool 629603, 5.50%, 2/01/17		1,836		1,868
Pool 638023, 6.50%, 4/01/32		58,822		66,094
Pool 642345, 6.50%, 5/01/32		65,042		76,137
Pool 651292, 6.50%, 7/01/32		73,317		78,327
Pool 686398, 6.00%, 3/01/33		165,903		185,444
Pool 695818, 5.00%, 4/01/18		48,264		49,258
Pool 745412, 5.50%, 12/01/35		38,824		43,499
Pool 888789, 5.00%, 7/01/36		442,990		491,692
Pool 890551, 4.50%, 8/01/41		143,481		156,473
Pool 975207, 5.00%, 3/01/23		95,311		98,934
Pool AB1796, 3.50%, 11/01/40		1,304,663		1,374,498
Pool AB7936, 3.00%, 2/01/43		2,194,252		2,241,609
Pool AB8997, 2.50%, 4/01/28		298,431		305,455
Pool AE0217, 4.50%, 8/01/40		250,304		272,938
Pool AE2520, 3.00%, 1/01/26		804,764		843,185
Pool AH5583, 4.50%, 2/01/41		735,361		801,933
Pool AK4523, 4.00%, 3/01/42		2,378,480		2,545,780
Pool AL0658, 4.50%, 8/01/41		833,789		909,285
Pool AL1319, 4.50%, 10/01/41		1,626,048		1,775,899
Pool AL2034, 4.50%, 4/01/42		360,084		392,767
Pool AL5537, 4.50%, 4/01/44		683,938		745,805
Pool AS0302, 3.00%, 8/01/43		6,028,731		6,164,614
Pool AS3155, 4.00%, 8/01/44		199,889		213,829
Pool AS4480, 2.50%, 2/01/30		1,801,455		1,847,302
Pool AS5136, 4.00%, 6/01/45		1,386,148		1,482,113
Pool AT7899, 3.50%, 7/01/43		4,460,151		4,676,607
Pool AU4279, 3.00%, 9/01/43		1,199,239		1,226,262
Pool AX0833, 3.50%, 9/01/44		2,093,209		2,197,072
Pool AX5302, 4.00%, 1/01/42		2,362,097		2,532,632
Pool G60038, 3.50%, 1/01/44		7,755,139		8,114,881
Pool G60038, 3.50%, 1/01/44		4,040,814		4,131,865
Pool MA1458, 3.00%, 6/01/43		739,819		756,693
Pool TBA, 5.00%, 2/15/44		6,700,000		7,398,266

TOTAL FEDERAL NATIONAL MORTGAGE ASSOCIATION (FNMA)			$	54,420,339
GOVERNMENT NATIONAL MORTGAGE ASSOCIATION (GNMA) – 0.1%
Pool 2077, 7.00%, 9/20/25		11,150		12,977
Pool 354677, 7.50%, 10/15/23		25,462		30,067
Pool 354713, 7.50%, 12/15/23		17,020		20,090
Pool 354765, 7.00%, 2/15/24		35,495		41,920
Pool 354827, 7.00%, 5/15/24		35,592		39,933
Pool 360869, 7.50%, 5/15/24		24,137		24,952
Pool 361843, 7.50%, 10/15/24		8,332		8,575


Description	Par Value		Value
Pool 373335, 7.50%, 5/15/22	$	9,190	$	9,494
Pool 385623, 7.00%, 5/15/24		41,219		48,076
Pool 503405, 6.50%, 4/15/29		44,161		51,231

TOTAL GOVERNMENT NATIONAL MORTGAGE ASSOCIATION (GNMA)			$	287,315

TOTAL MORTGAGE-BACKED SECURITIES (COST $97,700,710)			$	98,726,165
U.S. TREASURY – 31.1%
U.S. TREASURY BONDS – 5.9%
2.50%, 2/15/45		2,135,000		2,024,426
3.00%, 5/15/42		500,000		529,653
3.00%, 11/15/44		2,000,000		2,101,761
3.00%, 5/15/45		2,000,000		2,099,892
3.00%, 11/15/45		765,000		804,167
3.13%, 8/15/44		7,887,000		8,500,284
3.63%, 2/15/44		2,106,000		2,494,870
3.63%, 8/15/43		881,000		1,044,912
3.75%, 11/15/43		365,000		442,664
5.25%, 2/15/29		500,000		677,045
5.38%, 2/15/31		600,000		843,868
6.25%, 5/15/30		500,000		750,040
6.38%, 8/15/27		450,000		650,816
8.88%, 2/15/19		1,130,000		1,398,166

TOTAL U.S. TREASURY BONDS			$	24,362,564
U.S. TREASURY NOTES – 25.2%
0.63%, 8/31/17		1,810,000		1,806,182
0.63%, 9/30/17		750,000		748,187
0.75%, 12/31/17		500,000		499,579
0.88%, 8/15/17		3,100,000		3,106,049
1.00%, 5/31/18		3,100,000		3,108,018
1.13%, 6/15/18		3,000,000		3,018,077
1.25%, 10/31/18		2,085,000		2,102,153
1.25%, 1/31/19		250,000		251,903
1.38%, 3/31/20		3,300,000		3,318,897
1.38%, 6/30/18		6,000,000		6,072,727
1.38%, 9/30/18		1,240,000		1,254,848
1.38%, 2/28/19		2,500,000		2,526,848
1.50%, 12/31/18		2,486,000		2,523,559
1.50%, 1/31/19		9,400,000		9,539,110
1.50%, 5/31/19		535,000		542,673
1.50%, 11/30/19		1,145,000		1,159,116
1.63%, 3/31/19		820,000		835,215
1.63%, 11/30/20		1,710,000		1,735,049
1.63%, 8/15/22		6,000,000		6,008,428
1.63%, 11/15/22		1,928,000		1,926,199
1.75%, 9/30/19		5,700,000		5,825,462


Description	Par Value		Value
1.75%, 5/15/22	$	380,000	$	383,976
1.75%, 5/15/23		2,000,000		2,006,592
1.88%, 6/30/20		5,845,000		5,997,239
2.00%, 11/15/21		1,000,000		1,027,640
2.00%, 2/15/25		4,655,000		4,696,699
2.00%, 8/15/25		295,000		297,046
2.13%, 6/30/22		13,115,000		13,535,067
2.13%, 5/15/25		2,500,000		2,547,020
2.13%, 8/15/21		3,750,000		3,884,101
2.25%, 7/31/18		500,000		516,922
2.25%, 7/31/21		6,600,000		6,879,327
2.25%, 11/15/25		230,000		236,700
2.38%, 8/15/24		1,400,000		1,458,250
2.50%, 8/15/23		200,000		211,224
2.63%, 11/15/20		500,000		529,278
3.13%, 5/15/19		750,000		800,368
3.63%, 2/15/20		750,000		820,976
4.00%, 8/15/18		500,000		539,737

TOTAL U.S. TREASURY NOTES			$	104,276,441

TOTAL U.S. TREASURY (COST $124,084,931)				$128,639,005
	Number of Shares
MONEY MARKET FUND – 0.5%
Dreyfus Cash Management Fund, Institutional Shares, 0.28%^{^}		1,813,828	$	1,813,828

TOTAL MONEY MARKET FUND (COST $1,813,828)			$	1,813,828

TOTAL INVESTMENTS IN SECURITIES – 101.3% (COST $415,747,087)			$	419,796,097
	Par Value
CASH COLLATERAL INVESTED FOR SECURITIES ON LOAN – 0.2%
REPURCHASE AGREEMENTS – 0.2%
Citigroup Global Markets, Inc., 0.34%, dated 1/29/16, due 2/01/16, repurchase price $192,813, collateralized by U.S. Government & Treasury Securities 0.00% to 9.50%, maturing 3/20/16 to 3/20/62; total market value of $196,664.	$	192,808	$	192,808


Description	Par Value		Value
Daiwa Capital Markets America, 0.38%,dated 1/29/16, due 2/01/16, repurchase price $192,814, collateralized by U.S. Government & Treasury Securities 0.00% to 7.25%, maturing 3/23/16 to 2/01/49; total market value of $196,664.	$	192,808	$	192,808
HSBC Securities USA, Inc., 0.30%, dated 1/29/16, due 2/01/16, repurchase price $12,100, collateralized by U.S. Government Securities 0.00% to 7.25%, maturing 2/22/16 to 7/15/37; total market value of $12,342.		12,100		12,100
HSBC Securities USA, Inc., 0.31%, dated 1/29/16, due 2/01/16, repurchase price $38,619, collateralized by U.S. Government Securities 2.50% to 6.00%, maturing 1/01/28 to 1/01/46; total market value of $39,390.		38,618		38,618
ING Financial Markets LLC, 0.32%, dated 1/29/16, due 2/01/16, repurchase price $192,813, collateralized by U.S. Government Securities 1.70% to 6.26%,maturing 12/01/19 to 6/01/46; total market value of $196,665.		192,808		192,808
Merrill Lynch, Pierce, Fenner & Smith, Inc., , 0.34%, dated 1/29/16, due 2/01/16,repurchase price $192,813, collateralized by U.S. Government Securities 0.00% to 7.60%, maturing 2/01/16 to 9/20/61; total market value of $196,665.		192,808		192,808
Mizuho Securities USA, Inc., 0.35%, dated 1/29/16, due 2/01/16, repurchase price $192,814, collateralized by U.S. Government Securities 0.00% 9.50%,maturing 10/01/19 to 7/01/43; total market value of $196,665.		192,808		192,808

TOTAL CASH COLLATERAL INVESTED FOR SECURITIES ON LOAN (COST $1,014,758)			$	1,014,758

TOTAL INVESTMENTS – 101.5% (COST $416,761,845)			$	420,810,855
COLLATERAL FOR SECURITIES ON LOAN – (0.2%)				(1,014,758	)
OTHER LIABILITIES LESS ASSETS – (1.3%)				(5,282,758	)

TOTAL NET ASSETS – 100.0%			$	414,513,339

Cost of investments for Federal income tax purposes is $416,761,845. The net unrealized appreciation/(depreciation) of investments was $4,049,010. This consists of net unrealized appreciation from investment for those securities having an excess of value over cost of $9,337,034 and net unrealized depreciation from investments for those securities having an excess of cost over value of $5,288,024.

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

Level 2 – other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.)

Level 3 – significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments)

The following is a summary of the inputs used as of January 31, 2016 in valuing the Fund’s assets carried at fair value:


Description	Par Value		Value
ASSET-BACKED SECURITY – 0.1%
WHOLE LOAN – 0.1%
SLM Private Education Loan Trust, Series 2011-A, Class A1, 1.17%, 10/15/24^D,Ώ	$	71,877	$	71,968

TOTAL ASSET-BACKED SECURITY (COST $71,877)			$	71,968
CORPORATE BONDS – 48.5%
AEROSPACE & DEFENSE – 1.5%
L-3 Communications Corp., Company Guaranteed, 3.95%, 11/15/16		250,000		253,532
L-3 Communications Corp., Company Guaranteed, 4.75%, 7/15/20		750,000		790,540
Lockheed Martin Corp., Sr. Unsecured, 3.10%, 1/15/23		750,000		762,203

TOTAL AEROSPACE & DEFENSE			$	1,806,275
AUTO MANUFACTURERS – 1.8%
Daimler Finance North America LLC, Company Guaranteed, 1.38%, 8/01/17^Ώ		500,000		496,937
Ford Motor Credit Co. LLC, Sr. Unsecured, 2.15%, 1/09/18^#		750,000		745,649
General Motors Co., Sr. Unsecured, 3.50%, 10/02/18		220,000		221,100
Hyundai Capital America, Sr. Unsecured, 2.00%, 3/19/18^Ώ		250,000		249,178
Toyota Motor Credit Corp., Sr. Unsecured, MTN, 0.64%, 3/12/20^#		450,000		443,287

TOTAL AUTO MANUFACTURERS			$	2,156,151
AUTO PARTS & EQUIPMENT – 0.2%
Johnson Controls, Inc., Sr. Unsecured, 3.63%, 7/02/24		300,000		296,256
BANKS – 9.7%
Bank of America Corp, Sr. Unsecured, MTN, 2.63%, 10/19/20		160,000		158,145
Bank of America Corp., Sr. Unsecured, MTN, 4.13%, 1/22/24		250,000		257,633
Branch Banking & Trust Co., Subordinated, 3.63%, 9/16/25^#		500,000		510,415
Capital One Financial Corp., Sr. Unsecured, 2.45%, 4/24/19		100,000		100,125
Capital One Financial Corp., Sr. Unsecured, 4.20%, 10/29/25		345,000		345,000
Capital One NA, Sr. Unsecured, BKNT, 1.65%, 2/05/18		250,000		248,319
Citigroup, Inc., Sr. Unsecured, 1.70%, 4/27/18		600,000		595,839


Description	Par Value		Value
Citigroup, Inc., Sr. Unsecured, 2.15%, 7/30/18	$	150,000	$	150,041
Fifth Third Bancorp, Subordinated, 5.45%, 1/15/17		600,000		621,376
Fifth Third Bancorp, Subordinated, 4.30%, 1/16/24		370,000		385,317
Goldman Sachs Group, Inc., Sr. Unsecured, 1.44%, 4/23/20		500,000		497,435
HSBC USA, Inc., Sr. Unsecured, 2.80%, 8/07/18		220,000		219,686
Huntington National Bank/The, Sr. Unsecured, 2.40%, 4/01/20		350,000		346,439
JPMorgan Chase & Co., Sr. Unsecured, 6.00%, 1/15/18		250,000		269,684
JPMorgan Chase & Co., Sr. Unsecured, 1.70%, 3/01/18		500,000		498,946
JPMorgan Chase & Co., Sr. Unsecured, MTN, 1.35%, 2/15/17		750,000		749,971
Key Bank NA, Sr. Unsecured, 1.70%, 6/01/18		500,000		498,820
Keycorp, Sr. Unsecured, MTN, 2.90%, 9/15/20		500,000		504,642
Morgan Stanley, Sr. Unsecured, 2.50%, 1/24/19		325,000		326,775
National Australia Bank Ltd./NY, Sr. Unsecured, MTN, 2.75%, 3/09/17		300,000		305,343
PNC Financial Services Group, Inc., Subordinated, 3.90%, 4/29/24		750,000		783,620
Royal Bank of Canada, Sr. Unsecured, GMTN, 1.40%, 10/13/17		275,000		274,937
State Street Corp., Sr. Unsecured, 2.55%, 8/18/20		225,000		229,466
State Street Corp., Sr. Unsecured, 3.70%, 11/20/23		500,000		530,797
SunTrust Banks, Inc., Sr. Unsecured, 2.50%, 5/01/19		600,000		607,311
US Bancorp/MN, Sr. Unsecured, MTN, 1.65%, 5/15/17		500,000		503,469
US Bank NA/Cincinnati OH, Sr. Unsecured, BKNT, 1.10%, 1/30/17		750,000		750,637
Wells Fargo & Co., Sr. Unsecured, MTN, 1.40%, 9/08/17		550,000		549,317
Wells Fargo & Co., Sr. Unsecured, MTN, 2.55%, 12/07/20		200,000		201,001

TOTAL BANKS			$	12,020,506
BEVERAGES – 0.8%
Anheuser-Busch InBev Finance, Inc., Company Guaranteed, 1.90%, 2/01/19		430,000		430,996


Description	Par Value		Value
Anheuser-Busch InBev Finance, Inc., Company Guaranteed, 3.65%, 2/01/26	$	600,000	$	608,022

TOTAL BEVERAGES			$	1,039,018
CAPITAL MARKETS – 1.2%
BlackRock, Inc., Series 2, Sr. Unsecured, 5.00%, 12/10/19		650,000		732,842
Goldman Sachs Group, Inc., Sr. Unsecured, 6.25%, 9/01/17		655,000		697,339

TOTAL CAPITAL MARKETS			$	1,430,181
CHEMICALS – 0.4%
Ecolab, Inc., Sr. Unsecured, 3.00%, 12/08/16		450,000		456,691
COMMERCIAL BANKS – 1.3%
BB&T Corp., Sr. Unsecured, MTN, FRN, 1.09%, 6/15/18^D		500,000		500,758
Westpac Banking Corp., Sr. Unsecured, 2.00%, 8/14/17		575,000		580,092
Westpac Banking Corp., Sr. Unsecured, 4.88%, 11/19/19		500,000		549,596

TOTAL COMMERCIAL BANKS			$	1,630,446
COMMERCIAL FINANCE – 0.6%
General Electric Capital Corp., Sr. Unsecured, MTN, 2.30%, 4/27/17		750,000		761,279
COMPUTERS – 0.6%
HP Enterprise Co., Company Guaranteed, 2.45%, 10/05/17^Ώ		750,000		751,596
CONSUMER FINANCE – 1.5%
American Express Co., Sr. Unsecured, 6.15%, 8/28/17		750,000		800,328
American Express Co., Sr. Unsecured, FRN, 0.82%, 5/22/18^D		1,080,000		1,073,558

TOTAL CONSUMER FINANCE			$	1,873,886
DIVERSIFIED FINANCIAL SERVICES – 2.8%
Bank of America Corp., Sr. Unsecured, 2.00%, 1/11/18		250,000		249,249
BlackRock, Inc., Sr. Unsecured, 3.50%, 3/18/24		500,000		521,037
Charles Schwab Corp., Sr. Unsecured, 1.50%, 3/10/18		650,000		652,299
Ford Motor Credit Co. LLC, Sr. Unsecured, FRN, 1.06%, 3/12/19^D		1,000,000		969,808
General Motors Financial Co., Inc., Company Guaranteed, 2.75%, 5/15/16		300,000		301,125
General Motors Financial Co., Inc., Company Guaranteed, 4.75%, 8/15/17		250,000		256,406
TD Ameritrade Holding Corp., Sr. Unsecured, 2.95%, 4/01/22		450,000		456,869

TOTAL DIVERSIFIED FINANCIAL SERVICES			$	3,406,793
ELECTRIC – 2.9%
CMS Energy Corp., Sr. Unsecured, 6.55%, 7/17/17		625,000		671,595


Description	Par Value		Value
Duke Energy Indiana, Inc., 1st Mortgage, 3.75%, 7/15/20	$	670,000	$	717,921
Exelon Generation Co. LLC, Sr. Unsecured, 6.20%, 10/01/17		200,000		212,705
FirstEnergy Transmission LLC, Sr. Unsecured, 4.35%, 1/15/25^Ώ		750,000		771,317
NextEra Energy Capital Holdings, Inc., Company Guaranteed, 3.63%, 6/15/23		100,000		101,261
Southern California Edison Co., Series B, 1st Mortgage, 2.40%, 2/01/22		900,000		898,749
Southern Power Co., Sr. Unsecured, 1.85%, 12/01/17		205,000		205,462

TOTAL ELECTRIC			$	3,579,010
ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS – 0.2%
Emerson Electric Co., Sr. Unsecured, 2.63%, 12/01/21		275,000		280,003
FOOD – 0.5%
Kraft Foods Group, Inc., Company Guaranteed, 2.25%, 6/05/17		150,000		151,527
Kroger Co., Sr. Unsecured, 2.30%, 1/15/19		250,000		254,124
Kroger Co., Sr. Unsecured, 2.95%, 11/01/21		250,000		253,843

TOTAL FOOD			$	659,494
FOOD PRODUCTS – 0.2%
WM Wrigley Jr. Co., Sr. Unsecured, 1.40%, 10/21/16^Ώ		250,000		250,165
HEALTH CARE EQUIPMENT & SUPPLIES – 0.3%
Zimmer Holdings, Inc., Sr. Unsecured, 1.45%, 4/01/17		325,000		324,258
HEALTH CARE PROVIDERS & SERVICES – 0.4%
Anthem, Inc., Sr. Unsecured, 2.38%, 2/15/17		500,000		504,629
HOME FURNISHINGS – 0.4%
Whirlpool Corp., Sr. Unsecured, 1.65%, 11/01/17		250,000		249,490
Whirlpool Corp., Sr. Unsecured, 2.40%, 3/01/19		220,000		222,323

TOTAL HOME FURNISHINGS			$	471,813
INSURANCE – 2.1%
American International Group, Inc., Sr. Unsecured, 3.75%, 7/10/25		240,000		230,758
Aon PLC, Company Guaranteed, 2.80%, 3/15/21		240,000		242,791
Aon PLC, Company Guaranteed, 4.00%, 11/27/23		250,000		260,954
Hartford Financial Services Group, Inc., Sr. Unsecured, 5.13%, 4/15/22		360,000		397,303
MetLife, Inc., Sr. Unsecured, 3.60%, 4/10/24		750,000		764,689


Description	Par Value		Value
Prudential Financial, Inc., Sr. Unsecured, MTN, 6.00%, 12/01/17	$	650,000	$	700,212

TOTAL INSURANCE			$	2,596,707
MACHINERY – 0.4%
John Deere Capital Corp., Sr. Unsecured, MTN, 1.35%, 1/16/18		275,000		275,112
John Deere Capital Corp., Sr. Unsecured, MTN, 1.95%, 1/08/19^#		200,000		202,069

TOTAL MACHINERY			$	477,181
MEDIA – 2.8%
CBS Corp., Company Guaranteed, 3.38%, 3/01/22		350,000		351,822
CCO Safari II LLC, Sr. Secured, 3.58%, 7/23/20^Ώ		500,000		502,865
Time Warner Cable, Inc., Company Guaranteed, 5.85%, 5/01/17		750,000		782,556
Time Warner, Inc., Company Guaranteed, 3.60%, 7/15/25		430,000		418,573
Viacom, Inc., Sr. Unsecured, 3.50%, 4/01/17		750,000		764,150
Viacom, Inc., Sr. Unsecured, 3.25%, 3/15/23^#		650,000		587,307

TOTAL MEDIA			$	3,407,273
METALS & MINING – 0.3%
Alcoa, Inc., Sr. Unsecured, 5.13%, 10/01/24^#		500,000		411,562
MISCELLANEOUS MANUFACTURING – 1.8%
General Electric Co., Sr. Unsecured, 5.25%, 12/06/17		660,000		707,859
Ingersoll-Rand Global Holding Co. Ltd., Company Guaranteed, 4.25%, 6/15/23		330,000		348,367
Ingersoll-Rand Luxembourg Finance SA, Company Guaranteed, 2.63%, 5/01/20		250,000		248,650
Textron, Inc., Sr. Unsecured, 3.65%, 3/01/21		425,000		436,719
Textron, Inc., Sr. Unsecured, 4.30%, 3/01/24		500,000		522,927

TOTAL MISCELLANEOUS MANUFACTURING			$	2,264,522
OFFICE/BUSINESS EQUIPMENT – 0.5%
Xerox Corp., Sr. Unsecured, 2.80%, 5/15/20		600,000		570,541
OIL & GAS – 3.1%
Anadarko Petroleum Corp., Sr. Unsecured, 6.38%, 9/15/17		695,000		702,427
ConocoPhillips Co., Sr. Secured, 1.22%, 5/15/22		80,000		78,431
Devon Energy Corp., Sr. Unsecured, 2.25%, 12/15/18		370,000		319,587
Marathon Oil Corp., Sr. Unsecured, 6.00%, 10/01/17		1,000,000		991,853
Marathon Petroleum Corp., Sr. Unsecured, 3.63%, 9/15/24		125,000		110,666


Description	Par Value		Value
Phillips 66, Company Guaranteed, 4.30%, 4/01/22	$	400,000	$	409,563
Sempra Energy, Sr. Unsecured, 2.30%, 4/01/17		800,000		806,421
Total Capital International SA, Company Guaranteed, 0.58%, 6/19/19^D		450,000		442,883

TOTAL OIL & GAS			$	3,861,831
OIL & GAS FIELD SERVICES – 0.3%
Schlumberger Holdings Corp., Sr. Unsecured, 2.35%, 12/21/18^Ώ		370,000		365,246
PHARMACEUTICALS – 1.8%
AbbVie, Inc., Company Guaranteed, 1.75%, 11/06/17		750,000		749,881
Actavis Funding SCS, Company Guaranteed, 1.52%, 3/12/20		500,000		500,401
Cardinal Health, Inc., Sr. Unsecured, 1.90%, 6/15/17		250,000		251,486
Express Scripts Holding Co., Company Guaranteed, 1.25%, 6/02/17		415,000		413,372
Medco Health Solutions, Inc., Company Guaranteed, 4.13%, 9/15/20		250,000		264,140

TOTAL PHARMACEUTICALS			$	2,179,280
PIPELINES – 1.0%
Energy Transfer Partners LP, Sr. Unsecured, 4.15%, 10/01/20		500,000		443,024
Enterprise Products Operating LLC, Company Guaranteed, 2.55%, 10/15/19		325,000		311,482
Kinder Morgan, Inc., Company Guaranteed, 2.00%, 12/01/17		525,000		506,043

TOTAL PIPELINES			$	1,260,549
REAL ESTATE INVESTMENT TRUSTS – 3.8%
American Tower Corp., Sr. Unsecured, 3.45%, 9/15/21		250,000		252,168
American Tower Corp., Sr. Unsecured, 5.00%, 2/15/24		505,000		540,137
Digital Delta Holdings LLC, Company Guaranteed, 3.40%, 10/01/20^Ώ		100,000		101,422
HCP, Inc., Sr. Unsecured, 4.20%, 3/01/24		540,000		544,431
Health Care REIT, Inc., Sr. Unsecured, 2.25%, 3/15/18		450,000		451,491
Healthcare Realty Trust, Inc., Sr. Unsecured, 3.75%, 4/15/23		200,000		199,375
Healthcare Realty Trust, Inc., Sr. Unsecured, 3.88%, 5/01/25		550,000		547,254
Mack-Cali Realty LP, Sr. Unsecured, 2.50%, 12/15/17		250,000		251,321
ProLogis LP, Company Guaranteed, 3.35%, 2/01/21		500,000		511,808
Simon Property Group LP, Sr. Unsecured, 2.15%, 9/15/17		500,000		505,420
Ventas Realty LP / Ventas Capital Corp., Company Guaranteed, 2.70%, 4/01/20		550,000		546,570


Description	Par Value		Value
Ventas Realty LP / Ventas Capital Corp., Company Guaranteed, 4.25%, 3/01/22	$	250,000	$	261,022

TOTAL REAL ESTATE INVESTMENT TRUSTS			$	4,712,419
RETAIL – 0.2%
Walgreens Boots Alliance, Inc., Sr. Unsecured, 3.30%, 11/18/21		225,000		224,881
TELECOMMUNICATIONS – 1.3%
AT&T, Inc., Sr. Unsecured, 1.16%, 6/30/20		500,000		495,800
Verizon Communications, Inc., Sr. Unsecured, 1.35%, 6/09/17		300,000		299,724
Verizon Communications, Inc., Sr. Unsecured, 4.50%, 9/15/20		300,000		324,782
Verizon Communications, Inc., Sr. Unsecured, FRN, 1.00%, 6/17/19^D		525,000		521,886

TOTAL TELECOMMUNICATIONS			$	1,642,192
TRANSPORTATION – 0.8%
CSX Corp., Sr. Unsecured, 4.25%, 6/01/21		500,000		538,731
Ryder System, Inc., Sr. Unsecured, MTN, 2.50%, 3/01/18		500,000		501,420

TOTAL TRANSPORTATION			$	1,040,151
TRUCKING & LEASING – 1.0%
GATX Corp., Sr. Unsecured, 3.50%, 7/15/16		615,000		621,018
GATX Corp., Sr. Unsecured, 2.38%, 7/30/18		625,000		622,844

TOTAL TRUCKING & LEASING			$	1,243,862

TOTAL CORPORATE BONDS (COST $59,918,359)			$	59,956,647
GOVERNMENT AGENCIES – 10.0%
FEDERAL HOME LOAN BANK (FHLB) – 2.4%
Series 1, 4.88%, 5/17/17		1,865,000		1,963,920
Series 917, 1.00%, 6/21/17		1,000,000		1,003,182

TOTAL FEDERAL HOME LOAN BANK (FHLB)			$	2,967,102
FEDERAL HOME LOAN MORTGAGE CORPORATION (FHLMC) – 5.1%
1.38%, 5/01/20^#		1,250,000		1,254,356
1.25%, 5/12/17		1,800,000		1,811,464
1.75%, 5/30/19		805,000		821,093
2.38%, 1/13/22		1,850,000		1,924,337
3.75%, 3/27/19		500,000		540,751

TOTAL FEDERAL HOME LOAN MORTGAGE CORPORATION (FHLMC)			$	6,352,001
FEDERAL NATIONAL MORTGAGE ASSOCIATION (FNMA) – 2.5%
5.00%, 5/11/17		1,500,000		1,580,919


Description	Par Value		Value
1.75%, 9/12/19	$	1,475,000	$	1,503,260

TOTAL FEDERAL NATIONAL MORTGAGE ASSOCIATION (FNMA)			$	3,084,179

TOTAL GOVERNMENT AGENCIES (COST $12,109,543)			$	12,403,282
MORTGAGE-BACKED SECURITIES – 1.8%
FEDERAL HOME LOAN MORTGAGE CORPORATION (FHLMC) – 0.3%
Pool A18401, 6.00%, 2/01/34		69,246		78,927
Pool B19228, 4.50%, 4/01/20		20,877		21,664
Pool C90293, 7.50%, 9/01/19		72,120		79,926
Pool C90504, 6.50%, 12/01/21		28,280		31,942
Pool E83022, 6.00%, 4/01/16		493		494
Pool E92817, 5.00%, 12/01/17		40,826		41,697
Pool G01625, 5.00%, 11/01/33		55,268		60,847
Pool G02390, 6.00%, 9/01/36		18,068		20,494
Pool G08097, 6.50%, 11/01/35		36,706		42,626
Pool G08193, 6.00%, 4/01/37		56,719		64,339
Pool G11311, 5.00%, 10/01/17		22,180		22,587

TOTAL FEDERAL HOME LOAN MORTGAGE CORPORATION (FHLMC)			$	465,543
FEDERAL NATIONAL MORTGAGE ASSOCIATION (FNMA) – 1.2%
Pool 254240, 7.00%, 3/01/32		64,531		74,989
Pool 254833, 4.50%, 8/01/18		11,542		11,882
Pool 256639, 5.00%, 2/01/27		42,641		47,260
Pool 256752, 6.00%, 6/01/27		42,280		47,998
Pool 257007, 6.00%, 12/01/27		75,808		86,055
Pool 612514, 2.22%, 5/01/33^D		45,697		47,932
Pool 619054, 5.50%, 2/01/17		10,955		11,142
Pool 629603, 5.50%, 2/01/17		3,061		3,113
Pool 688996, 8.00%, 11/01/24		9,864		10,272
Pool 745412, 5.50%, 12/01/35		39,135		43,847
Pool 839291, 5.00%, 9/01/20		3,796		3,928
Pool AE2520, 3.00%, 1/01/26		1,020,842		1,069,580

TOTAL FEDERAL NATIONAL MORTGAGE ASSOCIATION (FNMA)			$	1,457,998
GOVERNMENT NATIONAL MORTGAGE ASSOCIATION (GNMA) – 0.3%
Pool 2616, 7.00%, 7/20/28		54,073		62,674
Pool 2701, 6.50%, 1/20/29		101,339		116,212
Pool 426727, 7.00%, 2/15/29		7,872		8,384
Pool 780825, 6.50%, 7/15/28		86,238		100,021
Pool 781231, 7.00%, 12/15/30		46,706		54,910

TOTAL GOVERNMENT NATIONAL MORTGAGE ASSOCIATION (GNMA)			$	342,201

TOTAL MORTGAGE-BACKED SECURITIES (COST $2,095,997)			$	2,265,742


Description	Par Value		Value
U.S. TREASURY – 39.0%
U.S. TREASURY NOTES – 39.0%
0.88%, 11/15/17	$	640,000	$	641,057
0.88%, 1/31/18		750,000		750,759
0.88%, 7/15/18		440,000		439,902
0.88%, 1/31/17		250,000		250,559
1.00%, 5/31/18		500,000		501,293
1.00%, 6/30/19		250,000		249,406
1.00%, 9/30/19		1,000,000		995,446
1.25%, 11/30/18		640,000		645,267
1.25%, 1/31/19		1,450,000		1,461,036
1.25%, 2/29/20		1,500,000		1,502,024
1.38%, 1/31/21		500,000		501,076
1.38%, 6/30/18		1,230,000		1,244,909
1.38%, 5/31/20		3,250,000		3,265,577
1.50%, 8/31/18		1,000,000		1,015,409
1.50%, 11/30/19		700,000		708,630
1.63%, 8/15/22		2,920,000		2,924,102
1.75%, 5/15/23		1,000,000		1,003,296
2.00%, 7/31/20		1,500,000		1,545,869
2.00%, 11/15/21		455,000		467,576
2.00%, 2/15/22		500,000		513,979
2.00%, 2/15/23		2,000,000		2,045,648
2.00%, 2/15/25		1,003,000		1,011,985
2.00%, 8/15/25		1,700,000		1,711,792
2.13%, 1/31/21		1,500,000		1,554,794
2.13%, 6/30/21		775,000		802,833
2.13%, 9/30/21		1,000,000		1,034,825
2.13%, 6/30/22		1,900,000		1,960,856
2.13%, 5/15/25		1,425,000		1,451,801
2.13%, 8/15/21		1,000,000		1,035,760
2.25%, 11/15/25		1,035,000		1,065,152
2.38%, 8/15/24		750,000		781,206
2.50%, 8/15/23		750,000		792,089
2.50%, 5/15/24		1,000,000		1,052,541
2.63%, 8/15/20		1,500,000		1,586,420
2.63%, 11/15/20		1,200,000		1,270,268
2.75%, 2/15/19		1,500,000		1,578,454
2.75%, 11/15/23		2,000,000		2,147,565
3.13%, 5/15/21		550,000		597,597
3.63%, 2/15/20		500,000		547,317
4.00%, 8/15/18		1,000,000		1,079,474
4.25%, 11/15/17		500,000		530,515


Description	Par Value		Value
4.75%, 8/15/17	$	500,000	$	530,665
13.75%, 8/31/20		1,400,000		1,406,062

TOTAL U.S. TREASURY NOTES			$	48,202,791

TOTAL U.S. TREASURY (COST $47,199,802)			$	48,202,791

	Number of Shares
MONEY MARKET FUND – 0.5%
Dreyfus Cash Management Fund, Institutional Shares, 0.28%^{^}		616,510	$	616,510

TOTAL MONEY MARKET FUND (COST $616,510)			$	616,510

TOTAL INVESTMENTS IN SECURITIES – 99.9% (COST $122,012,088)			$	123,516,940

	Par Value
CASH COLLATERAL INVESTED FOR SECURITIES ON LOAN – 2.1%
REPURCHASE AGREEMENTS – 2.1%
Citigroup Global Markets, Inc., 0.34%, dated 1/29/16, due 2/01/16, repurchase price $486,063, collateralized by U.S. Government & Treasury Securities 0.00% to 9.50%, maturing 3/20/16 to 3/20/62; total market value of $495,770.	$	486,049	$	486,049
Daiwa Capital Markets America, 0. 38%, dated 1/29/16, due 2/01/16, repurchase price $486,064, collateralized by U.S. Government & Treasury Securities 0.00% to 7.25%, maturing 12/31/16 to 2/01/49; total market value of $495,770.		486,049		486,049
HSBC Securities USA, Inc., 0.30%, dated 1/29/16, due 2/01/16, repurchase price $30,514, collateralized by U.S. Government Securities 0.00% to 7.25%, maturing 2/22/16 to 1/15/37; total market value of $31,123.		30,513		30,513
HSBC Securities USA, Inc., 0.31%, dated 1/29/16, due 2/01/16, repurchase price $97,374, collateralized by U.S. Government Securities 2.50% to 6.00%, maturing 1/01/28 to 1/01/46; total market value of $99,319.		97,371		97,371
ING Financial Markets LLC, 0.32%, dated 1/29/16, due 2/01/16, repurchase price $486,062, collateralized by U.S. Government Securities 1.70% to 6. 26%, maturing 1/01/19 to 8/01/46; total market value of $495,772.		486,049		486,049


Description	Par Value
Mizuho Securities USA, Inc. 0.35% dated 1/29/16 due 2/01/16 repurchase price $486,063, collateralized by U.S. Government Securities 0.00% to 9.50%,maturing 10/01/19 to 7/01/43; total market value of $495,770.	$	486,049	$	486,049
TD Securities (USA) LLC, 0.35%, dated 1/29/16, due 2/01/16, repurchase price $486,063, collateralized by U.S. Government Securities 2.50% to 4.00%,maturing 9/01/26 to 9/01/45; total market value of $495,770.		486,049		486,049

TOTAL CASH COLLATERAL INVESTED FOR SECURITIES ON LOAN (COST $2,558,129)			$	2,558,129

TOTAL INVESTMENTS – 102.0% (COST $124,570,217)			$	126,075,069
COLLATERAL FOR SECURITIES ON LOAN – (2.1%)				(2,558,129	)
OTHER ASSETS LESS LIABILITIES – 0.1%				158,255

TOTAL NET ASSETS – 100.0%			$	123,675,195

Cost of investments for Federal income tax purposes is $124,570,217. The net unrealized appreciation/(depreciation) of investments was $1,504,852. This consists of net unrealized appreciation from investment for those securities having an excess of value over cost of $2,082,126 and net unrealized depreciation from investments for those securities having an excess of cost over value of $577,274.

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

Level 2 – other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.)

Level 3 – significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments)

The following is a summary of the inputs used as of January 31, 2016 in valuing the Fund’s assets carried at fair value:


Description	Par Value		Value
ADJUSTABLE RATE MORTGAGE – 0.0%**
FEDERAL NATIONAL MORTGAGE ASSOCIATION (FNMA) – 0.0%**
Pool 399251, 2.32%, 9/01/27^D	$	51	$	53

TOTAL ADJUSTABLE RATE MORTGAGE (COST $51)			$	53
ASSET-BACKED SECURITY – 0.1%
WHOLE LOAN – 0.1%
SLM Private Education Loan Trust, Series 2011-A, Class A1, 1.43%, 10/15/24^{D ,Ώ}		95,836		95,958

TOTAL ASSET-BACKED SECURITY (COST $95,836)			$	95,958
COLLATERALIZED MORTGAGE OBLIGATIONS – 7.2%
COMMERCIAL MORTGAGE-BACKED SECURITIES (CMBS) – 0.4%
JPMorgan Chase Commercial Mortgage Securities Trust, Series 2007-CIBC18, Class A4, 5.44%, 6/12/47		528,584		539,922
FEDERAL HOME LOAN MORTGAGE CORPORATION (FHLMC) – 2.1%
Series 1988-6, Class C, 9.05%, 6/15/19		2,041		2,108
Series 1989-112, Class I, 6.50%, 1/15/21		1,033		1,101
Series 1990-136, Class E, 6.00%, 4/15/21		2,701		2,882
Series 1990-141, Class D, 5.00%, 5/15/21		1,106		1,160
Series 1993-1577, Class PK, 6.50%, 9/15/23		36,359		40,066
Series 1993-1644, Class K, 6.75%, 12/15/23		30,090		33,197
Series 1994-1686, Class PJ, 5.00%, 2/15/24		3,712		3,938
Series 2003-2649, Class KA, 4.50%, 7/15/18		48,194		49,375
Series 2011-3799, Class GK, 2.75%, 1/15/21		151,941		155,555
Series 2012-K710, Class A1, 1.44%, 1/25/19		1,584,844		1,594,456
Series 3893, Class DJ, 2.00%, 10/15/20		1,258,520		1,267,322

TOTAL FEDERAL HOME LOAN MORTGAGE CORPORATION (FHLMC)			$	3,151,160
FEDERAL NATIONAL MORTGAGE ASSOCIATION (FNMA) – 3.2%
Series 1993-113, Class PK, 6.50%, 7/25/23		33,688		36,945
Series 1993-127, Class H, 6.50%, 7/25/23		30,036		33,170
Series 1993-202, Class J, 6.50%, 11/25/23		17,653		19,882
Series 1994-3, Class PL, 5.50%, 1/25/24		35,396		38,135
Series 1994-55, Class H, 7.00%, 3/25/24		37,321		41,705


Description	Par Value		Value
Series 2002-52, Class QA, 6.00%, 7/18/32	$	11,302	$	11,786
Series 2002-94, Class HQ, 4.50%, 1/25/18		357,580		366,364
Series 2003-3, Class BC, 5.00%, 2/25/18		278,219		288,532
Series 2009-70, Class NM, 3.25%, 8/25/19		696,365		713,984
Series 2011-66, Class QE, 2.00%, 7/25/21		545,186		550,820
Series 2011-71, Class DJ, 3.00%, 3/25/25		577,649		587,331
Series 2011-81, Class PA, 3.50%, 8/25/26		2,048,094		2,137,082

TOTAL FEDERAL NATIONAL MORTGAGE ASSOCIATION (FNMA)			$	4,825,736
GOVERNMENT NATIONAL MORTGAGE ASSOCIATION (GNMA) – 0.8%
Series 2005-44, Class PC, 5.00%, 12/20/33		338,886		344,450
Series 2010-17, Class K, 4.00%, 3/16/22		780,486		788,812

TOTAL GOVERNMENT NATIONAL MORTGAGE ASSOCIATION (GNMA)			$	1,133,262
WHOLE LOAN – 0.7%
Banc of America Mortgage Securities, Inc., Series 2004-A, Class 2A1, 2.78%, 2/25/34^D		209,477		206,815
Banc of America Mortgage Securities, Inc., Series 2004-B, Class 2A1, 2.67%, 3/25/34^D		142,068		141,678
IndyMac INDA Mortgage Loan Trust, Series 2005-AR1, Class 2A1, 2.90%, 11/25/35^D		818,507		744,504

TOTAL WHOLE LOAN			$	1,092,997

TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (COST $11,005,316)			$	10,743,077
COMMERCIAL PAPER – 3.4%¿
COMMERCIAL PAPER – 3.4%
Duke Energy Corp., 0.71%, 2/05/16^Ώ		2,000,000		1,999,806
Public Service Electric & Gas Colorado, 0.53%, 2/01/16		2,000,000		1,999,971
Viacom, Inc., 1.02%, 2/02/16^Ώ		1,000,000		999,944

TOTAL COMMERCIAL PAPER			$	4,999,721

TOTAL COMMERCIAL PAPER (COST $4,999,816)			$	4,999,721
CORPORATE BONDS – 55.7%
AEROSPACE & DEFENSE – 2.5%
L-3 Communications Corp., Company Guaranteed, 3.95%, 11/15/16		1,746,000		1,770,667
Lockheed Martin Corp., Sr. Unsecured, 1.85%, 11/23/18		2,000,000		2,014,819

TOTAL AEROSPACE & DEFENSE			$	3,785,486


Description	Par Value		Value
AUTOMOTIVE – 2.7%
Daimler Finance North America LLC, Company Guaranteed, 1.38%, 8/01/17^Ώ	$	2,000,000	$	1,987,748
Hyundai Capital America, Sr. Unsecured, 1.88%, 8/09/16^Ώ		400,000		401,382
Johnson Controls, Inc., Sr. Unsecured, 1.40%, 11/02/17		1,000,000		994,530
Toyota Motor Credit Corp., Sr. Unsecured, MTN, 0.87%, 3/12/20^D		693,000		682,662

TOTAL AUTOMOTIVE			$	4,066,322
BEVERAGES – 0.7%
Anheuser-Busch InBev Finance, Inc., Company Guaranteed, 1.90%, 2/01/19		1,000,000		1,002,316
BIOTECHNOLOGY – 1.4%
Celgene Corp., Sr. Unsecured, 2.13%, 8/15/18		1,225,000		1,228,197
Gilead Sciences, Inc., Sr. Unsecured, 1.85%, 9/04/18		785,000		790,970

TOTAL BIOTECHNOLOGY			$	2,019,167
CAPITAL MARKETS – 5.5%
Caterpillar Financial Services Corp., Sr. Unsecured, 1.75%, 3/24/17		1,000,000		1,006,228
Fifth Third Bancorp, Subordinated, 5.45%, 1/15/17		5,000,000		5,178,137
Goldman Sachs Group, Inc., Sr. Unsecured, 3.63%, 2/07/16		562,000		562,280
Raymond James Financial, Inc., Sr. Unsecured, 4.25%, 4/15/16		1,500,000		1,509,169

TOTAL CAPITAL MARKETS			$	8,255,814
COMMERCIAL BANKS – 7.6%
Branch Banking & Trust Co., Sr. Unsecured, BKNT, 1.00%, 4/03/17		1,500,000		1,495,602
Citigroup, Inc., Sr. Unsecured, 2.15%, 7/30/18		915,000		915,249
Citigroup, Inc., Sr. Unsecured, 2.05%, 12/07/18		2,000,000		1,989,363
Huntington National Bank (The), Sr. Unsecured, 1.38%, 4/24/17		2,000,000		1,995,667
JPMorgan Chase & Co., Sr. Unsecured, FRN, 1.25%, 1/28/19^D		1,000,000		987,038
KeyBank N.A., Subordinated, BKNT, 5.70%, 11/01/17		900,000		957,600
Wells Fargo & Co., Sr. Unsecured, MTN, 1.15%, 6/02/17		2,000,000		1,998,053
Wells Fargo & Co., Sr. Unsecured, MTN, 2.55%, 12/07/20		1,000,000		1,005,004

TOTAL COMMERCIAL BANKS			$	11,343,576
COMPUTERS – 0.7%
HP Enterprise Co., Sr. Unsecured, 2.45%, 10/05/17^Ώ		1,000,000		1,002,127


Description	Par Value		Value
CONSUMER FINANCE – 2.3%
John Deere Capital Corp., Sr. Unsecured, MTN, 1.05%, 12/15/16	$	2,500,000	$	2,501,281
John Deere Capital Corp., Sr. Unsecured, MTN, 1.95%, 1/08/19^#		950,000		959,830

TOTAL CONSUMER FINANCE			$	3,461,111
DIVERSIFIED FINANCIAL SERVICES – 6.9%
American Express Credit Corp., Sr. Unsecured, 1.08%, 3/18/19^D		800,000		791,400
Bank of New York Mellon Corp., Sr. Unsecured, MTN, 2.45%, 11/27/20		2,000,000		2,009,071
Capital One NA, Sr. Unsecured, BKNT, 1.50%, 9/05/17		1,200,000		1,194,685
Charles Schwab Corp., Sr. Unsecured, 1.50%, 3/10/18		1,975,000		1,981,986
Ford Motor Credit Co. LLC, Sr. Unsecured, FRN, 1.33%, 3/12/19^D		1,000,000		969,808
General Electric Co., Sr. Unsecured, 1.51%, 3/15/23^D		2,000,000		1,976,003
General Motors Financial Co., Inc., Company Guaranteed, 4.75%, 8/15/17		200,000		205,125
Morgan Stanley, Sr. Unsecured, GMTN, 2.45%, 2/01/19		1,100,000		1,104,796

TOTAL DIVERSIFIED FINANCIAL SERVICES			$	10,232,874
ELECTRIC – 5.2%
Appalachian Power Co., Sr. Unsecured, K, 5.00%, 6/01/17		1,000,000		1,044,083
Entergy Corp., Sr. Unsecured, 4.70%, 1/15/17		2,000,000		2,043,901
Exelon Generation Co. LLC, Sr. Unsecured, 6.20%, 10/01/17		1,505,000		1,600,609
Georgia Power Co., Sr. Unsecured, 1.95%, 12/01/18		2,000,000		2,015,551
Southern Power Co., Sr. Unsecured, 1.85%, 12/01/17		1,000,000		1,002,253

TOTAL ELECTRIC			$	7,706,397
ELECTRONICS – 1.3%
Thermo Fisher Scientific, Inc., Sr. Unsecured, 1.30%, 2/01/17		2,000,000		1,995,307
ENVIRONMENTAL CONTROL – 0.7%
Waste Management, Inc., Company Guaranteed, 2.60%, 9/01/16		1,100,000		1,108,334
FOOD PRODUCTS – 1.9%
Kroger Co., Sr. Unsecured, 1.20%, 10/17/16		2,600,000		2,600,806
WM Wrigley Jr. Co., Sr. Unsecured, 1.40%, 10/21/16^Ώ		160,000		160,106

TOTAL FOOD PRODUCTS			$	2,760,912
FOREST PRODUCTS & PAPER – 0.8%
International Paper Co., Sr. Unsecured, 5.25%, 4/01/16		1,250,000		1,258,238


Description	Par Value		Value
HEALTH CARE EQUIPMENT & SUPPLIES – 1.4%
Becton Dickinson And Co., Sr. Unsecured, 1.45%, 5/15/17	$	1,000,000	$	998,744
Zimmer Holdings, Inc., Sr. Unsecured, 1.45%, 4/01/17		1,135,000		1,132,410

TOTAL HEALTH CARE EQUIPMENT & SUPPLIES			$	2,131,154
HEALTH CARE PROVIDERS & SERVICES – 1.4%
Anthem, Inc., Sr. Unsecured, 2.38%, 2/15/17		1,000,000		1,009,259
UnitedHealth Group, Inc., Sr. Unsecured, 1.90%, 7/16/18		1,110,000		1,116,409

TOTAL HEALTH CARE PROVIDERS & SERVICES			$	2,125,668
HOME FURNISHINGS – 0.5%
Whirlpool Corp., Sr. Unsecured, 6.50%, 6/15/16		750,000		763,229
INSURANCE – 2.1%
Berkshire Hathaway Finance Corp., Company Guaranteed, 1.60%, 5/15/17		2,000,000		2,018,746
Principal Financial Group, Inc., Company Guaranteed, 1.85%, 11/15/17		1,074,000		1,078,529

TOTAL INSURANCE			$	3,097,275
MEDIA – 1.2%
CBS Corp., Company Guaranteed, 4.63%, 5/15/18		1,000,000		1,056,928
Walt Disney Co., Sr. Unsecured, 1.65%, 1/08/19^#		750,000		757,858

TOTAL MEDIA			$	1,814,786
OIL & GAS – 2.6%
Chevron Corp., Sr. Unsecured, 1.34%, 11/09/17		1,500,000		1,496,092
Halliburton Co., Sr. Unsecured, 2.70%, 11/15/20		175,000		170,995
Husky Oil Ltd., Sr. Unsecured, 7.55%, 11/15/16		221,000		225,511
Phillips 66, Company Guaranteed, 2.95%, 5/01/17		1,000,000		1,013,719
Schlumberger Holdings Corp., Sr. Unsecured, 1.90%, 12/21/17^#,Ώ		1,000,000		996,969

TOTAL OIL & GAS			$	3,903,286
PHARMACEUTICALS – 0.7%
AbbVie, Inc., Sr. Unsecured, 1.75%, 11/06/17		1,000,000		999,841
REAL ESTATE INVESTMENT TRUSTS – 1.3%
BioMed Realty LP, Company Guaranteed, 2.63%, 5/01/19		1,000,000		979,548
Ventas Realty LP, Company Guaranteed, 1.55%, 9/26/16		1,000,000		1,001,488

TOTAL REAL ESTATE INVESTMENT TRUSTS			$	1,981,036


Description	Par Value		Value
RETAIL – 2.2%
CVS Caremark Corp., Sr. Unsecured, 1.20%, 12/05/16	$	2,200,000	$	2,199,630
McDonald’s Corp., Sr. Unsecured, 2.75%, 12/09/20		1,000,000		1,015,023

TOTAL RETAIL			$	3,214,653
TELECOMMUNICATIONS – 1.1%
AT&T, Inc., Sr. Unsecured, 1.53%, 6/30/20^D		900,000		892,440
Cisco Systems, Inc., Sr. Unsecured, 1.10%, 3/03/17		800,000		802,465

TOTAL TELECOMMUNICATIONS			$	1,694,905
TRANSPORTATION – 0.3%
Ryder System, Inc., Sr. Unsecured, MTN, 3.60%, 3/01/16		400,000		400,774
TRUCKING & LEASING – 0.7%
GATX Corp., Sr. Unsecured, 2.38%, 7/30/18		1,000,000		996,550

TOTAL CORPORATE BONDS (COST $83,177,851)			$	83,121,138
GOVERNMENT AGENCIES – 0.0%**
SMALL BUSINESS ADMINISTRATION – 0.0%**
Small Business Administration Participation Certificates, U.S. Government Guaranteed, Series 1996-C, 6.70%, 3/01/16		2,190		2,199
Small Business Administration Participation Certificates, U.S. Government Guaranteed, Series 1996-K, 6.95%, 11/01/16		23,903		24,455
Small Business Administration Participation Certificates, U.S. Government Guaranteed, Series 1996-L, 6.70%, 12/01/16		14,724		15,014
Small Business Administration Participation Certificates, U.S. Government Guaranteed, Series 1997-E, 7.30%, 5/01/17		575		595
Small Business Administration Participation Certificates, U.S. Government Guaranteed, Series 1999-I, 7.30%, 9/01/19		3,355		3,585

TOTAL SMALL BUSINESS ADMINISTRATION			$	45,848

TOTAL GOVERNMENT AGENCIES (COST $45,250)			$	45,848
MORTGAGE-BACKED SECURITIES – 6.8%
FEDERAL HOME LOAN MORTGAGE CORPORATION (FHLMC) – 1.7%
Pool 287773, 7.50%, 3/01/17		222		228
Pool 538733, 9.00%, 9/01/19		201		207
Pool A18401, 6.00%, 2/01/34		570,670		650,455
Pool C78010, 5.50%, 4/01/33		759,273		855,114
Pool C80328, 7.50%, 7/01/25		28,059		32,826
Pool G01425, 7.50%, 5/01/32		62,641		73,438
Pool G01831, 6.00%, 5/01/35		138,628		157,428


Description	Par Value		Value
Pool G12709, 5.00%, 7/01/22	$	107,431	$	111,933
Pool G14695, 4.50%, 6/01/26		583,742		609,424

TOTAL FEDERAL HOME LOAN MORTGAGE CORPORATION (FHLMC)			$	2,491,053
FEDERAL NATIONAL MORTGAGE ASSOCIATION (FNMA) – 4.9%
Pool 202957, 8.00%, 8/01/21		1,964		2,075
Pool 252439, 6.50%, 5/01/29		25,400		29,415
Pool 255933, 5.50%, 11/01/35		131,250		147,121
Pool 323419, 6.00%, 12/01/28		49,785		56,555
Pool 334593, 7.00%, 5/01/24		53,540		62,191
Pool 39862, 9.75%, 9/01/17		2,606		2,732
Pool 436746, 6.50%, 8/01/28		41,662		44,949
Pool 440401, 6.50%, 8/01/28		141,702		164,450
Pool 485678, 6.50%, 3/01/29		29,485		31,923
Pool 494375, 6.50%, 4/01/29		2,196		2,267
Pool 545051, 6.00%, 9/01/29		71,001		80,703
Pool 725418, 6.50%, 5/01/34		129,462		150,027
Pool 833143, 5.50%, 9/01/35		731,006		819,270
Pool 843323, 5.50%, 10/01/35		61,104		68,269
Pool AE2520, 3.00%, 1/01/26		340,281		356,527
Pool MA0909, 3.00%, 11/01/21		604,576		634,037
Pool MA0921, 3.00%, 12/01/21		4,416,513		4,631,748

TOTAL FEDERAL NATIONAL MORTGAGE ASSOCIATION (FNMA)			$	7,284,259
GOVERNMENT NATIONAL MORTGAGE ASSOCIATION (GNMA) – 0.2%

Pool 1061, 9.00%, 4/20/23		12,911		13,450
Pool 1886, 9.00%, 10/20/24		329		342
Pool 188603, 9.00%, 11/15/16		1,614		1,650
Pool 208196, 9.00%, 2/15/17		2,819		2,883
Pool 306066, 8.50%, 7/15/21		2,924		3,395
Pool 307983, 8.50%, 7/15/21		12,819		13,226
Pool 341948, 8.50%, 1/15/23		3,352		3,447
Pool 346572, 7.00%, 5/15/23		6,239		6,636
Pool 484269, 7.00%, 9/15/28		28,011		30,211
Pool 581522, 6.00%, 5/15/33		139,420		148,799
Pool 592505, 6.00%, 4/15/33		143,492		154,266
Pool 780440, 8.50%, 11/15/17		305		316

TOTAL GOVERNMENT NATIONAL MORTGAGE ASSOCIATION (GNMA)			$	378,621

TOTAL MORTGAGE-BACKED SECURITIES (COST $9,778,408)			$	10,153,933
MUNICIPAL BOND – 0.1%
DEVELOPMENT – 0.1%
City of Miami, FL, Rent Revenue, Series 1998, 8.65%, 7/01/19		100,000		113,125

TOTAL MUNICIPAL BOND (COST $105,634)			$	113,125


Description	Par Value		Value
U.S. TREASURY – 26.2%
U.S. TREASURY NOTES – 26.2%
0.50%, 4/30/17	$	5,515,000	$	5,502,415
0.63%, 5/31/17		8,500,000		8,489,935
0.63%, 6/30/17		185,000		184,753
1.00%, 5/15/18		9,750,000		9,778,249
1.13%, 6/15/18		13,750,000		13,832,852
1.38%, 6/30/18		1,300,000		1,315,758

TOTAL U.S. TREASURY NOTES			$	39,103,962

TOTAL U.S. TREASURY (COST $38,989,212)			$	39,103,962
Description	Number of Shares		Value
MONEY MARKET FUND – 0.2%
Dreyfus Cash Management Fund, Institutional Shares, 0.28%^{^}		363,320	$	363,320

TOTAL MONEY MARKET FUND (COST $363,320)			$	363,320

TOTAL INVESTMENTS IN SECURITIES – 99.7% (COST $148,560,694)			$	148,740,135
	Par Value
CASH COLLATERAL INVESTED FOR SECURITIES ON LOAN – 1.2%
REPURCHASE AGREEMENTS – 1.2%
Citigroup Global Markets, Inc., 0.34%, dated 1/29/16, due 2/01/16, repurchase price $337,598, collateralized by U.S. Government & Treasury Securities 0.00% to 9.50%, maturing 3/20/16 to 3/20/62; total market value of $344,340.	$	337,588	$	337,588
Daiwa Capital Markets America, 0.38%,dated 1/29/16, due 2/01/16, repurchase price $337,599, collateralized by U.S. Government & Treasury Securities 0.00% to 7.25%, maturing 3/23/16 to 2/01/49; total market value of $344,340.		337,588		337,588
HSBC Securities USA, Inc., 0.30%, dated 1/29/16, due 2/01/16, repurchase price $21,194, collateralized by U.S. Government Securities 0.00% to 7.25%, maturing 2/22/16 to 7/15/37; total market value of $21,617.		21,193		21,193


Description	Par Value		Value
HSBC Securities USA, Inc., 0.31%, dated 1/29/16, due 2/01/16, repurchase price $67,633, collateralized by U.S. Government Securities 2.50% to 6.00%, maturing 1/01/28 to 1/01/46; total market value of $68,984.	$	67,631	$	67,631
ING Financial Markets LLC, 0.32%, dated 1/29/16, due 2/01/16, repurchase price $337,597, collateralized by U.S. Government Securities 1.70% to 6.26%, maturing 1/01/19 to 8/01/46; total market value of $344,341.		337,588		337,588
Mizuho Securities USA, Inc., 0.35%, dated 1/29/16, due 2/01/16, repurchase price $337,598, collateralized by U.S. Government Securities 0.00% to 9.50%, maturing 10/01/19 to 7/01/43; total market value of $344,340.		337,588		337,588
TD Securities (USA) LLC, 0.35%, dated 1/29/16, due 2/01/16, repurchase price $337,598, collateralized by U.S. Government Securities 2.50% 4.00%, maturing 9/01/26 9/01/45; total market value of $344,349.		337,588		337,588

TOTAL CASH COLLATERAL INVESTED FOR SECURITIES ON LOAN (COST $1,776,764)			$	1,776,764

Cost of investments for Federal income tax purposes is $150,337,560. The net unrealized appreciation/(depreciation) of investments was $179,339. This consists of net unrealized appreciation from investment for those securities having an excess of value over cost of $734,376 and net unrealized depreciation from investments for those securities having an excess of cost over value of $555,037.

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

Level 2 – other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.)

Level 3 – significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments)

The following is a summary of the inputs used as of January 31, 2016 in valuing the Fund’s assets carried at fair value:


Description	Par Value		Value
MUNICIPAL BONDS – 98.5%
ALABAMA – 0.9%
HIGHER EDUCATION – 0.5%
Auburn University, AL, Advance Refunding Revenue Bonds, (Series A), 5.00%, 6/01/21	$	1,200,000	$	1,435,680
MEDICAL – 0.4%
The University of Alabama, AL, Refunding Revenue Bonds, (Series A), 5.75%, 9/01/22^D		1,000,000		1,122,730

TOTAL ALABAMA			$	2,558,410
ARIZONA – 1.7%
SCHOOL DISTRICT – 0.8%
Maricopa County Unified School District No 80 Chandler, AZ, GO Limited, Economic Defeasance, 5.00%, 7/01/21		2,000,000		2,401,280
WATER & SEWER – 0.9%
City of Tucson, AZ, Refunding Revenue Bonds, (Water Revenue), 5.00%, 7/01/30		2,255,000		2,756,332

TOTAL ARIZONA			$	5,157,612
CALIFORNIA – 8.6%
GENERAL OBLIGATIONS – 0.8%
Grossmont Healthcare District, CA, GO Unlimited, (Series C), (Health, Hospital & Nursing Home Improvements), 5.00%, 7/15/23		2,000,000		2,493,260
LEASE – 1.8%
Los Angeles Unified School District, CA, Certificate Participation Refunding Bonds, (Series B), (Headquarters Building), 5.00%, 10/01/27		4,300,000		5,191,390
MEDICAL – 2.0%
California Statewide Communities Development Authority, CA, Revenue Bonds, (Health, Hospital, Nursing Home Revenue), 5.00%, 4/01/19		5,140,000		5,807,892
TRANSPORTATION – 2.0%
Bay Area Toll Authority, CA, Refunding Revenue Bonds, (San Francisco Bay Area), 5.00%, 4/01/26		5,000,000		6,067,350
WATER & SEWER – 2.0%
City of San Francisco Public Utilities Commission Water Revenue, CA, Refunding Revenue Bonds, (Series C), (Water Revenue), 5.00%, 11/01/27		5,000,000		6,058,950

TOTAL CALIFORNIA			$	25,618,842
COLORADO – 0.8%


Description	Par Value		Value
AIRPORT – 0.8%
City & County of Denver Airport System Revenue, CO, Refunding Revenue Bonds, (Series B), 5.00%, 11/15/25	$	2,000,000	$	2,440,440

TOTAL COLORADO			$	2,440,440
FLORIDA – 3.3%
GENERAL OBLIGATIONS – 0.7%
State of Florida, FL, General Obligation, (Fuel Sales Tax Revenue), 5.00%, 7/01/19		2,000,000		2,280,820
LEASE – 2.0%
Broward County School Board, FL, Certificate Participation Refunding Bonds,, (Series A), 5.00%, 7/01/21		3,000,000		3,560,280
St. Johns County School Board, FL, Certificate Participation Refunding Bonds, 5.00%, 7/01/20		2,000,000		2,321,200

TOTAL LEASE			$	5,881,480
TRANSPORTATION – 0.6%
FL Turnpike Authority-A-Ref 5, FL, Revenue Bonds, Highway Revenue Tolls, 5.00%, 7/01/20		1,500,000		1,756,770

TOTAL FLORIDA			$	9,919,070
GEORGIA – 3.8%
GENERAL OBLIGATIONS – 2.5%
State of Georgia, GA, GO Unlimited, (Series A-1), (Public Improvements), 5.00%, 2/01/22		6,000,000		7,347,720
SCHOOL DISTRICT – 1.3%
Valdosta Board of Education, GA, (Ad Valorem Property Tax)
5.00%, 2/01/20		1,250,000		1,446,450
5.00%, 2/01/21		1,000,000		1,188,970
5.00%, 2/01/19		1,025,000		1,150,573

TOTAL SCHOOL DISTRICT			$	3,785,993

TOTAL GEORGIA			$	11,133,713
ILLINOIS – 10.7%
DEDICATED TAX – 2.0%
State of Illinois, IL, Revenue Bond, (Sales Tax Revenue), 6.00%, 6/15/27		2,000,000		2,694,780
State of Illinois, IL, Revenue Bonds, Public Improvements, (National Reinsurance FGIC), 6.00%, 6/15/26		2,500,000		3,324,600

TOTAL DEDICATED TAX			$	6,019,380


Description	Par Value		Value
GENERAL OBLIGATIONS – 5.1%
Chicago Park District, IL, (Ad Valorem Property Tax)
5.00%, 1/01/26	$	1,250,000	$	1,417,550
5.00%, 1/01/27		3,455,000		3,889,639
Cook Kane Lake & McHenry Counties Community College District No 512, IL, (Ad Valorem Property Tax), 5.00%, 12/01/18		2,350,000		2,620,132
Metropolitan Water Reclamation District of Greater Chicago, IL, GO Limited, (Series C-Green Bond), (Water Utility & Sewer Improvements), 5.00%, 12/01/28		5,990,000		7,306,123

TOTAL GENERAL OBLIGATIONS			$	15,233,444
MEDICAL – 0.4%
Illinois State Finance Authority, IL, Refunding Revenue Bonds, (Series A), (Rush University Medical Center), 5.00%, 11/15/29		1,000,000		1,193,800
SCHOOL DISTRICT – 1.1%
Du Page & Will Counties, IL, Community School District No 204 Indian Prairie, GO Unlimited, Advance Refunding, (Series A), 5.00%, 12/30/19		2,785,000		3,191,304
TRANSPORTATION – 2.1%
Illinois State Toll Highway Authority, IL, Refunding Revenue Bonds, (Series D), 5.00%, 1/01/24		5,000,000		6,143,200

TOTAL ILLINOIS			$	31,781,128
INDIANA – 1.2%
GENERAL OBLIGATIONS – 0.5%
Indianapolis-Marion County Public Library, IN, GO Unlimited, Refunding Revenue Bonds, (State Intercept Program), 5.00%, 1/01/19		1,270,000		1,419,835
MEDICAL – 0.7%
Indiana Finance Authority, IN, Refunding Revenue Bonds, (Series C), (Franciscan Alliance Inc., OBG), 5.00%, 11/01/21		2,000,000		2,220,900

TOTAL INDIANA			$	3,640,735
KANSAS – 1.7%
TRANSPORTATION – 1.7%
State of Kansas Department of Transportation, KS, Revenue Bonds, (Fuel Sales Tax Revenue), 5.00%, 9/01/23		4,000,000		5,037,600

TOTAL KANSAS			$	5,037,600
MARYLAND – 5.2%
DEDICATED TAX – 0.5%
Maryland State Department of Transportation, MD, Revenue Bonds, Transit Improvements, 5.00%, 2/15/28		1,375,000		1,598,602


Description	Par Value		Value
GENERAL OBLIGATIONS – 2.3%
Baltimore County, MD, GO Unlimited, Refunding Notes, (Public Improvements), 5.00%, 2/01/28	$	1,000,000	$	1,197,480
Cecil County, MD, GO Unlimited, Refunding Bonds, (County Commissioners- Consolidated Public Improvements), 5.00%, 11/01/23		2,590,000		3,192,978
Montgomery County, MD, GO Unlimited, Refunding Bonds, (Series A), 5.00%, 7/01/21		2,000,000		2,417,660

TOTAL GENERAL OBLIGATIONS			$	6,808,118
LEASE – 0.4%
Maryland Economic Development Corp., MD, Revenue Bonds, General Improvements, (Public Health Laboratory), 5.00%, 6/01/19		1,000,000		1,133,900
MEDICAL – 1.6%
Maryland Health & Higher Educational Facilities Authority, MD, Refunding Revenue Bonds, (Anne Arundel Health Systems)
5.00%, 7/01/22		1,000,000		1,215,240
5.00%, 7/01/25		1,000,000		1,172,070
5.00%, 7/01/26		1,100,000		1,281,016
Maryland Health & Higher Educational Facilities Authority, MD, Revenue Bonds, (Johns Hopkins Health System), 5.00%, 7/01/19		1,000,000		1,137,860

TOTAL MEDICAL			$	4,806,186
TRANSPORTATION – 0.4%
Maryland State Transportation Authority, MD, Refunding Revenue Bonds, 5.00%, 7/01/25		1,000,000		1,214,890

TOTAL MARYLAND			$	15,561,696
MASSACHUSETTS – 0.8%
WATER – 0.8%
Massachusetts Clean Water Trust/The, MA, Revenue Bonds, (Miscellaneous Revenue), 5.00%, 2/01/20		2,000,000		2,323,740

TOTAL MASSACHUSETTS			$	2,323,740
MICHIGAN – 8.7%
DEDICATED TAX – 3.4%
Michigan Finance Authority, MI, Refunding Revenue Bonds, (Series A), (Unemployment Obligation Assessment), 5.00%, 7/01/18		3,500,000		3,858,155
Michigan Finance Authority, MI, Revenue Bonds, Repayment of Bank Loan, (Series H-1), 5.00%, 10/01/25		5,215,000		6,299,042

TOTAL DEDICATED TAX			$	10,157,197


Description	Par Value		Value
GENERAL – 0.7%
Michigan Finance Authority, MI, Revenue Bond, (Income Tax Revenue), 4.00%, 10/01/24	$	2,000,000	$	2,161,180
MEDICAL – 0.5%
Royal Oak Hospital Finance Authority, MI, Refunding Revenue Bonds, (Series D), (William Beaumont Hospital), 5.00%, 9/01/20		1,200,000		1,388,916
SCHOOL DISTRICT – 2.9%
Grand Ledge Public Schools, MI, GO Unlimited, Current Refunding, (Q-SBLF)
5.00%, 5/01/22		1,195,000		1,439,640
5.00%, 5/01/24		2,810,000		3,464,589
Huron Valley School District, MI, GO Unlimited, Current Refunding, (Q-SBLF), 5.00%, 5/01/20		1,000,000		1,155,980
Troy School District, MI, GO Unlimited, Advance Refunding, (Q-SBLF), 5.00%, 5/01/20		2,085,000		2,419,309

TOTAL SCHOOL DISTRICT			$	8,479,518
UTILITIES – 1.2%
Lansing Board of Water & Light, MI, Revenue Bonds, (Series A), 5.00%, 7/01/29		3,000,000		3,521,760

TOTAL MICHIGAN			$	25,708,571
MISSOURI – 1.0%
MEDICAL – 1.0%
Missouri State Health & Educational
Facilities Authority, MO, Refunding Revenue Bonds, (Series A), (SSM Health Care)
5.00%, 6/01/20		1,000,000		1,158,950
5.00%, 6/01/28		1,500,000		1,786,965

TOTAL MEDICAL			$	2,945,915

TOTAL MISSOURI			$	2,945,915
NEBRASKA – 2.4%
ELECTRIC – 2.4%
Lincoln Nebraska Electric System, NE, Revenue Bond, 5.00%, 9/01/20		6,000,000		7,064,880

TOTAL NEBRASKA			$	7,064,880
NEVADA – 2.6%
DEDICATED TAX – 2.6%
County of Clark, NV, Refunding Revenue Bonds, (Fuel Tax and Subordinated Motor), 5.00%, 7/01/30		4,505,000		5,451,500
County of Clark, NV, Refunding Revenue Bonds, (Motor Vehicle Fuel Tax), 5.00%, 7/01/18		2,000,000		2,198,560

TOTAL DEDICATED TAX			$	7,650,060

TOTAL NEVADA			$	7,650,060


Description	Par Value		Value
NEW JERSEY – 3.4%
GENERAL OBLIGATIONS – 0.7%
County of Essex, NJ, GO Unlimited, (Series A), ( Public Improvements), 5.00%, 8/01/19	$	1,870,000	$	2,130,379
HIGHER EDUCATION – 1.6%
Gloucester County Improvement Authority, NJ, Advance Refunding Revenue Bonds, (Series A), (Rowan University Project), 5.00%, 7/01/28		1,030,000		1,229,686
Gloucester County Improvement Authority, NJ, Advance Refunding Revenue Bonds, (Series B), (Rowan University Project), 5.00%, 7/01/27		3,000,000		3,606,600

TOTAL HIGHER EDUCATION			$	4,836,286
MEDICAL – 0.4%
New Jersey Health Care Facilities Financing Authority, NJ, Revenue Bonds, (Health, Hospital, Nursing Home Revenue), 5.00%, 7/01/30		1,000,000		1,183,250
TRANSPORTATION – 0.7%
New Jersey State Turnpike Authority, NJ, Revenue Bonds, (Series A), (Highway Improvement), 5.00%, 1/01/27		1,645,000		2,000,139

TOTAL NEW JERSEY			$	10,150,054
NEW YORK – 8.3%
DEDICATED TAX – 2.5%
Nassau County Interim Finance Authority, NY, Refunding Revenue Bonds, (Series A), (Sales Tax), 5.00%, 11/15/21		1,960,000		2,399,981
New York City, Transitional Finance Authority, NY, Refunding Revenue Bonds, (Sub-series E), 5.00%, 11/01/22		4,125,000		4,943,070

TOTAL DEDICATED TAX			$	7,343,051
GENERAL – 0.4%
New York City Transitional Finance Authority Future Tax Secured Revenue, NY, Revenue Bonds, (Public Improvement), 5.00%, 2/01/31		1,115,000		1,351,045
LEASE – 0.4%
Erie County Industrial Development Agency School, NY, Refunding Revenue Bonds, (State Aid Withholding), 5.00%, 5/01/18		1,000,000		1,094,200
TRANSPORTATION – 5.0%
Metropolitan Transportation Authority, NY, Revenue Bonds, (Series B), (Transit Improvements), 5.00%, 11/15/29		3,000,000		3,577,170
New York State Thruway Authority, NY, Refunding Revenue Bonds, 5.00%, 1/01/30		5,500,000		6,703,950
Port Authority of New York & New Jersey, NY, Refunding Revenue Bonds, (Port, Airport & Marina Improvements), 5.00%, 12/01/23		2,000,000		2,455,020


Description	Par Value		Value
Port Authority of New York & New Jersey, NY, Revenue Bonds, (Port, Airport,& MarineRevenue), 5.00%, 12/01/27	$	1,750,000	$	2,163,910

TOTAL TRANSPORTATION			$	14,900,050

TOTAL NEW YORK			$	24,688,346
OHIO – 0.8%
GENERAL OBLIGATIONS – 0.8%
Akron-Summit County Public Library, OH, GO Unlimited, Refunding Revenue Bonds, 5.00%, 12/01/20		1,960,000		2,310,076

TOTAL OHIO			$	2,310,076
PENNSYLVANIA – 8.8%
FACILITIES – 0.6%
Pittsburgh Public Parking Authority, PA, Revenue Bond, (Auto Parking Revenue), 5.00%, 12/01/26		1,535,000		1,852,315
HIGHER EDUCATION – 1.7%
Pennsylvania Higher Educational Facilities Authority, PA, Current Refunding Revenue Bonds, (Series A), (University of Sciences, Philadelphia), 5.00%, 11/01/28		2,330,000		2,783,465
Pennsylvania State University, PA, Refunding Revenue Bonds, (Series B), 5.25%, 8/15/22		1,865,000		2,315,379

TOTAL HIGHER EDUCATION			$	5,098,844
MEDICAL – 1.8%
Allegheny County Hospital Development Authority, PA, Revenue Bonds, (Series A), (UPMC, OBG), 5.00%, 10/15/22		1,605,000		1,960,347
Lancaster County Hospital Authority, PA, Refunding Revenue Bonds, (Series B), (Lancaster General Hospital, OBG)
5.00%, 3/15/19		1,485,000		1,559,918
5.00%, 3/15/23		1,770,000		1,856,093

TOTAL MEDICAL			$	5,376,358
PRE-REFUNDED/ESCROW – 3.0%
Bucks County Industrial Development Authority, PA, IDA, Revenue Bonds, ETM, (Senior Lifestyles, Inc., OBG), 10.00%, 5/15/19		4,775,000		6,184,580
Pennsylvania Convention Center Authority, PA, Revenue Bonds, ETM, (Series A), (FGIC), 6.00%, 9/01/19		2,410,000		2,720,191

TOTAL PRE-REFUNDED/ESCROW			$	8,904,771
SCHOOL DISTRICT – 0.7%
Pittsburgh Public Schools, PA, GO Unlimited, Refunding Revenue Bonds, (Series A), (AGM State Aid Withholding), 5.00%, 9/01/21		1,775,000		2,051,723
TRANSPORTATION – 1.0%
Pennsylvania State Turnpike Commission, PA, Refunding Revenue Bonds, (Series B), 5.00%, 12/01/21		1,400,000		1,605,800


Description	Par Value		Value
Pennsylvania Turnpike Commission, PA, Revenue Bond, (Highway Revenue Toll), 5.00%, 12/01/30	$	1,000,000	$	1,185,870

TOTAL TRANSPORTATION			$	2,791,670

TOTAL PENNSYLVANIA			$	26,075,681
RHODE ISLAND – 0.7%
WATER – 0.7%
Narragansett Bay Commission, RI, Revenue Bonds, (Sewer Revenue), 5.00%, 2/01/31		1,815,000		2,164,351

TOTAL RHODE ISLAND			$	2,164,351
TEXAS – 14.0%
AIRPORT – 1.0%
Dallas/Fort Worth International Airport, TX, Refunding Revenue Bonds, (Series D), 5.25%, 11/01/23		2,500,000		3,030,650
GENERAL OBLIGATIONS – 3.2%
County of Harris TX, Refunding Notes, (Ad Valorem Property Tax), 5.00%, 10/01/20		3,315,000		3,916,242
County of Travis, TX, GO Limited, Refunding Revenue Bonds, 5.00%, 3/01/19		1,270,000		1,427,175
State of Texas, TX, GO Unlimited, Highway Improvements, (Transportation Commission), 5.00%, 4/01/21		3,440,000		4,119,400

TOTAL GENERAL OBLIGATIONS			$	9,462,817
HIGHER EDUCATION – 1.8%
Harris County Cultural Education Facilities Finance Corp., TX, Refunding Revenue Bonds, (Series A), (Baylor College of Medicine, OBG)
5.00%, 11/15/18		1,690,000		1,872,351
5.00%, 11/15/19		3,105,000		3,530,820

TOTAL HIGHER EDUCATION			$	5,403,171
MEDICAL – 2.8%
North Central Texas Health Facility Development Corp., TX, Refunding Revenue Bonds, (Children’s Medical Center of Dallas Project, OBG), 5.00%, 8/15/18		1,000,000		1,102,110
Tarrant County Cultural Education Facilities Finance Corp., TX, Revenue Bonds, (Methodist Hospital of Dallas, OBG), 5.00%, 10/01/25		6,110,000		7,340,187

TOTAL MEDICAL			$	8,442,297
SCHOOL DISTRICT – 1.4%
Mesquite Independent School District, TX, GO Unlimited, Refunding Revenue Bonds, (Series B), (PSF-GTD), 5.00%, 8/15/19		2,165,000		2,476,219
Point Isabel Independent School District, TX, Current Refunding, (Ad Valorem Property Tax), 5.00%, 2/01/22		1,375,000		1,589,046

TOTAL SCHOOL DISTRICT			$	4,065,265


Description	Par Value		Value
TRANSPORTATION – 1.0%
County of Harris, TX, Refunding Revenue Bonds, (Series C), (Senior Lien-Toll Road), 5.00%, 8/15/26	$	2,420,000	$	2,912,664
UTILITIES – 1.3%
City of Houston Utility System, TX, Refunding Revenue Bonds, (Series C), (Comb-First Lien)
5.00%, 5/15/21		1,250,000		1,494,562
5.00%, 5/15/23		2,000,000		2,481,680

TOTAL UTILITIES			$	3,976,242
WATER & SEWER – 1.5%
City of Austin Water & Wastewater System, TX, Refunding Revenue Bonds, 5.00%, 5/15/20		3,810,000		4,439,031

TOTAL TEXAS			$	41,732,137
UTAH – 0.9%
MEDICAL – 0.9%
County of Utah, UT, Revenue Bonds, (IHC Health Services Inc., OBG)
5.00%, 5/15/25		1,165,000		1,359,520
5.00%, 5/15/26		1,200,000		1,393,752

TOTAL MEDICAL			$	2,753,272

TOTAL UTAH			$	2,753,272
VIRGINIA – 1.5%
LEASE – 1.5%
Virginia, College Building Authority, VA, Revenue Bonds, University & College Improvements, (Series A), (Public Higher Education Financing, OBG), 5.00%, 9/01/19		4,000,000		4,577,320

TOTAL VIRGINIA			$	4,577,320
WASHINGTON – 6.1%
DEDICATED TAX – 0.9%
Central Puget Sound Regional Transit Authority, WA, Revenue Bonds, Transit Improvements, (National Reinsurance FGIC), 5.25%, 2/01/21		2,300,000		2,713,632


Description	Par Value		Value
GENERAL OBLIGATIONS – 3.0%
State of Washington, WA, GO Unlimited, (Ad Valorem Property Tax), 5.00%, 7/01/28	$	2,575,000	$	3,222,175
State of Washington, WA, GO Unlimited, Refunding Revenue Bonds, (Series R-C), 5.00%, 7/01/24		4,500,000		5,595,210

TOTAL GENERAL OBLIGATIONS			$	8,817,385
POWER – 0.4%
County of Lewis Public Utility District No. 1, WA, Current Refunding Revenue Bonds, 5.25%, 10/01/28		1,000,000		1,247,180
SCHOOL DISTRICT – 1.8%
Clark County School District No 114 Evergreen, WA, Current Refunding, (Ad Valorem Property Tax), 5.00%, 12/01/18		4,855,000		5,426,142

TOTAL WASHINGTON			$	18,204,339
WISCONSIN – 0.6%
TRANSPORTATION – 0.6%
Wisconsin Department of Transportation, WI, Refunding Revenue Bonds, (Series 2), 5.00%, 7/01/19		1,500,000		1,708,425

TOTAL WISCONSIN			$	1,708,425

TOTAL MUNICIPAL BONDS (COST $279,038,834)			$	292,906,413
	Number of Shares
MONEY MARKET FUND – 1.2%
Dreyfus Tax Exempt Cash Management Fund, Institutional Shares, 0.01%^{^}		3,689,212	$	3,689,212

TOTAL MONEY MARKET FUND (COST $3,689,212)			$	3,689,212

TOTAL INVESTMENTS – 99.7% (COST $282,728,046)			$	296,595,625
OTHER ASSETS LESS LIABILITIES – 0.3%				754,128

TOTAL NET ASSETS – 100.0%			$	297,349,753

Cost of investments for Federal income tax purposes is $282,728,046. The net unrealized appreciation/(depreciation) of investments was $13,867,579. This consists of net unrealized appreciation from investment for those securities having an excess of value over cost of $13,867,579 and net unrealized depreciation from investments for those securities having an excess of cost over value of $0.

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

Level 2 – other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.)

Level 3 – significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments)

The following is a summary of the inputs used as of January 31, 2016 in valuing the Fund’s assets carried at fair value:


Description	Par Value		Value
MUNICIPAL BONDS – 97.9%
NEW YORK – 97.9%
DEDICATED TAX – 17.7%
Nassau County Interim Finance Authority, NY, Refunding Revenue Bonds, (Series A), 5.00%, 11/15/21	$	1,000,000	$	1,224,480
New York Local Government Assistance Corp., NY, Refunding Revenue Notes, (Series A), (GO of Corp.), 5.00%, 4/01/20		3,000,000		3,506,550
New York State Dormitory Authority, Refunding Revenue Bonds, (Series A), 5.00%, 3/15/29		2,200,000		2,698,058
New York State Dormitory Authority, NY, Revenue Bonds, University & College Improvements, (Series A), 5.00%, 3/15/25		5,100,000		6,277,845
New York State Thruway Authority, NY, Revenue Bonds, Transit Improvements, (Series A), 5.00%, 3/15/27		1,000,000		1,114,220

TOTAL DEDICATED TAX			$	14,821,153
GENERAL OBLIGATIONS – 21.6%
County of Albany, NY, AD Velorem Property Tax, GO, Refunding Bonds, 5.00%, 9/15/20		2,595,000		3,063,034
Nassau County Sewer & Storm Water Finance Authority, NY, Refunding Revenue Bonds, 5.00%, 10/01/26		1,500,000		1,866,405
New York City, NY, Transitional Finance Authority, Revenue Bonds, Public Improvements, (Sub-Series E-1), 5.00%, 2/01/31		1,260,000		1,526,742
New York State, NY, GO Unlimited, Highway Improvements, (Series E), (State Aid Withholding), 5.00%, 12/15/21		2,090,000		2,564,618
Rochester New York, AD Velorem Property Tax, GO, Refunding Notes, 5.00%, 8/01/19		3,000,000		3,414,570
Town of Brookhaven, NY, Refunding Bonds, Economic Defeasance, AD Velorem Property Tax, 5.00%, 5/01/19		1,000,000		1,134,520
Town of Islip, NY, GO, Refunding Bonds, AD Valorem Property Tax, 5.00%, 2/01/19		1,795,000		2,016,808
West Seneca, New York, AD Valorem Property Tax, GO, Public Improvements, 5.00%, 7/15/21		1,040,000		1,256,320
West Seneca, New York, AD Valorem Property Tax, GO, Refunding Notes, 5.00%, 7/15/20		990,000		1,161,973

TOTAL GENERAL OBLIGATIONS			$	18,004,990


Description	Par Value		Value
HIGHER EDUCATION – 3.5%
New York State Dormitory Authority, NY, Revenue Bonds, University College Improvements, (Series A), 5.00%, 7/01/21	$	1,000,000	$	1,197,440
New York State Dormitory Authority, NY, University & College Improvements, (Series A), (NATL-RE), 6.00%, 7/01/19		1,500,000		1,746,450

TOTAL HIGHER EDUCATION			$	2,943,890
LEASE – 12.0%
Erie County, NY, IDA, Revenue Bonds, School Improvements, (Series A), (School District Buffalo Project)/(State Aid Withholding), 5.00%, 5/01/23		3,000,000		3,585,690
New York City, NY, Transitional Finance Authority, Building Aid, Revenue Refunding Bonds, School Improvements, (Series S-5), (State Aid Withholding), 5.00%, 1/15/27		2,770,000		3,106,057
New York State Urban Development Corp., NY, Refunding Revenue Notes, (Series B), 5.25%, 1/01/23		3,000,000		3,320,400

TOTAL LEASE			$	10,012,147
MEDICAL – 8.1%
New York State Dormitory Authority, NY, Refunding Revenue Bonds, Health, Hospital, Nursing Home Revenue (NYU Hospitals Center), 5.00%, 7/01/27		4,650,000		5,614,224
New York State Dormitory Authority, NY, Revenue Refunding Bonds, (Series C), (Memorial Sloan Kettering Cancer Center)/(National Reinsurance), 5.75%, 7/01/19		1,010,000		1,166,934

TOTAL MEDICAL			$	6,781,158
POWER – 3.8%
New York Power Authority/The, NY, Revenue Refunding Bonds, (Series A), (GO of Authority), 5.00%, 11/15/22		2,575,000		3,181,567
PRE-REFUNDED/ESCROW – 4.9%
Triborough Bridge & Tunnel Authority, NY, Refunding Revenue Bonds, (Series Y), (CAPMAC – ITC GO of Authority), 6.13%, 1/01/21		3,500,000		4,113,935
SCHOOL DISTRICT – 2.7%
Commack Union Free School District, NY, Refunding Bonds, (GO, State Aid Withholding), 4.00%, 11/15/21		1,000,000		1,158,550


Description	Par Value		Value
Union Free School District of The Tarrytowns, NY, Refunding Bonds, Economic Defeasance, (Series A), (State Aid Withholding), 5.00%, 1/15/19	$	1,000,000	$	1,123,610

TOTAL SCHOOL DISTRICT			$	2,282,160
TRANSPORTATION – 16.6%
Metropolitan Transportation Authority, NY, Revenue Bonds, Transit Improvements, (Series B), 5.00%, 11/15/22		1,000,000		1,078,350
Metropolitan Transportation Authority, NY Revenue, Revenue Refunding Bonds, Transit Improvements, (Series B), 5.00%, 11/15/29		2,000,000		2,384,780
Metropolitan Transportation Authority, NY Revenue, Revenue Refunding Bonds, Transit Improvements, (Series E), 5.00%, 11/15/28		2,000,000		2,398,660
Port Authority of New York & New Jersey, Revenue Bonds, Airport & Marina Improvements, (194th Series), 5.00%, 10/15/30		1,000,000		1,238,660
Port Authority of New York & New Jersey, Revenue Bonds, Current Refunding, Airport & Marina Improvements, (179th Series), 5.00%, 12/01/27		1,000,000		1,236,520
Port Authority of New York & New Jersey, NY, Refunding Revenue Bonds, Airport & Marina Improvements, (Series B), 5.00%, 12/01/23		3,000,000		3,682,530
Triborough Bridge & Tunnel Authority, NY, Refunding Revenue Bonds, (Series B), 5.00%, 11/15/28		1,500,000		1,839,330

TOTAL TRANSPORTATION			$	13,858,830


Description	Par Value		Value
WATER & SEWER – 7.0%
Buffalo New York, Municipal Water Finance Authority, Current Refunding, Municipal Water Finance, 5.00%, 7/01/29	$	1,170,000	$	1,405,474
New York City Water & Sewer System, NY, (Series BB), Refunding Revenue Bonds, 5.00%, 6/15/28		3,595,000		4,441,047

TOTAL WATER & SEWER			$	5,846,521

TOTAL NEW YORK			$	81,846,351

TOTAL MUNICIPAL BONDS (COST $77,027,000)			$	81,846,351

	Number of Shares
MONEY MARKET FUND – 1.3%
Dreyfus Tax Exempt Cash Management Fund, Institutional Shares, 0.01%^{^}		1,083,408	$	1,083,408

TOTAL MONEY MARKET FUND (COST $1,083,408)			$	1,083,408

TOTAL INVESTMENTS – 99.2% (COST $78,110,408)			$	82,929,759
OTHER ASSETS LESS LIABILITIES – 0.8%				637,380

TOTAL NET ASSETS – 100.0%			$	83,567,139

Cost of investments for Federal income tax purposes is $78,110,408. The net unrealized appreciation of investments was $4,819,351. This consists of net unrealized appreciation from investment for those securities having an excess of value over cost of $4,819,351 and net unrealized depreciation from investments for those securities having an excess of cost over value of $0.

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

The following is a summary of the inputs used as of January 31, 2016 in valuing the Fund’s assets carried at fair value:


Description	Par Value		Value
ASSET-BACKED COMMERCIAL PAPER – 9.8%^‡
CAFCO LLC, 0.28%, 2/17/16	$	50,000,000	$	49,993,778
Chariot Funding LLC, 0.66%, 7/21/16^Ώ		50,000,000		50,000,000
CIESCO LLC, 0.31%, 2/04/16		25,000,000		24,999,375
Fairway Finance Corp., 0.45%, 3/28/16		50,000,000		49,965,778
MetLife Short Term Fund LLC
0.51%, 3/23/16		38,250,000		38,222,906
0.61%, 4/18/16		25,000,000		24,967,917
0.63%, 5/02/16		38,462,000		38,401,722
Thunder Bay Funding LLC
0.31%, 2/11/16		50,000,000		49,995,833
0.66%, 4/27/16		50,000,000		49,922,361

TOTAL ASSET-BACKED COMMERCIAL PAPER (COST $376,469,670)			$	376,469,670
CERTIFICATES OF DEPOSIT – 14.3%
Bank Of America NA, 0.66%, 5/06/16		100,000,000		100,000,000
Bank Of Montreal, CHI, 0.30%, 2/12/16		50,000,000		50,000,000
Canadian Imperial Bank of Commerce, NY, 0.43%, 3/02/16		50,000,000		50,000,000
Chase Bank USA, 0.60%, 3/08/16		50,000,000		50,000,000
Credit Suisse, New York, 0.52%, 3/29/16		50,000,000		50,003,959
Svenska Handelsbanken AB, NY, 0.35%, 2/02/16		50,000,000		49,999,868
Toronto Dominion Bank, 0.87%, 10/17/16^D		50,000,000		50,000,000
Toronto Dominion Bank, NY, YCD, 0.66%, 6/01/16		50,000,000		50,000,000
Wells Fargo Bank, NA
0.57%, 3/04/16^D		50,000,000		50,000,000
0.63%, 5/18/16		50,000,000		50,000,000

TOTAL CERTIFICATES OF DEPOSIT (COST $550,003,827)			$	550,003,827
CORPORATE NOTES & BONDS – 1.9%
GE Capital International Funding Co., Company Guaranteed, 0.56%, 4/15/16		75,000,000		75,061,570

TOTAL CORPORATE NOTES & BONDS (COST $75,061,570)			$	75,061,570


Description	Par Value		Value
FINANCIAL COMPANY COMMERCIAL PAPER – 12.0%^‡
Australia & New Zealand Banking Group Ltd., 0.53%, 4/04/16	$	100,000,000	$	99,909,000
Bank Of Nova Scotia, 0.61%, 4/27/16^D,Ώ		100,000,000		100,000,000
Commonwealth Bank of Australia
0.53%, 2/26/16^D,Ώ		50,000,000		50,000,000
0.55%, 5/13/16^D,Ώ		50,000,000		50,000,000
Massachusetts Mutual Life Insurance, 0.41%, 2/22/16		23,750,000		23,744,458
National Australia Bank Ltd., 0.41%, 3/18/16		50,000,000		49,974,445
National Rural Utilities Cooperative Finance Corp., 0.41%, 2/08/16		40,000,000		39,996,889
Svenska Handelsbanken AB, 0.58%, 4/04/16		50,000,000		49,950,125

TOTAL FINANCIAL COMPANY COMMERCIAL PAPER (COST $463,574,917)			$	463,574,917
MUNICIPAL COMMERCIAL PAPER – 2.4%^‡
Salt River Project Agricultural Improvement & Power District, (Series C), 0.43%, 2/04/16		45,000,000		44,998,425
University Of California, Revenue Taxable, 0.43%, 2/03/16		46,335,000		46,333,919

TOTAL MUNICIPAL COMMERCIAL PAPER (COST $91,332,344)			$	91,332,344
OTHER COMMERCIAL PAPER – 44.6%^‡
ABB Treasury Center USA, 0.36%, 2/04/16		35,000,000		34,998,979
Abbott Laboratories
0.46%, 4/01/16		50,000,000		49,962,500
0.46%, 4/04/16		29,600,000		29,576,690
0.46%, 4/11/16		25,000,000		24,978,125
American Honda Finance Corp., 0.28%, 2/18/16		85,000,000		84,988,761
Apple, Inc., 0.35%, 2/22/16		35,000,000		34,993,058
Archer-Daniles Midlands-Midland Co., 0.41%, 2/22/16		50,000,000		49,988,333
Army & Air Force Exchange 0.31%, 2/01/16		83,000,000		83,000,000


Description	Par Value		Value
0.35%, 2/02/16	$	25,000,000	$	24,999,764
BASF SE, 0.61%, 5/10/16		50,000,000		49,917,500
BP Capital Markets PLC
0.39%, 2/04/16		62,000,000		61,998,011
0.41%, 2/11/16		40,000,000		39,995,556
Caterpillar Financial Service Corp., 0.54%, 4/11/16		50,000,000		49,948,472
CIPPIB Capital, Inc., 0.28%, 2/05/16		50,000,000		49,998,444
Electricite de France, 0.62%, 4/22/16		100,000,000		99,862,750
Emerson Electric Co.
0.52%, 4/08/16		69,730,000		69,663,815
0.52%, 4/14/16		31,000,000		30,967,941
Honeywell International, Inc., 0.44%, 3/14/16		81,000,000		80,959,365
IBM Corp., 0.41%, 2/22/16		108,715,000		108,689,633
Intel Corp., 0.51%, 4/26/16		100,000,000		99,881,944
Ontario Teachers Finance Trust, 0.48%, 3/18/16		95,000,000		94,942,947
Philip Morris International, Inc., 0.43%, 2/01/16		100,000,000		100,000,000
Province of British Columbia, 0.56%, 4/01/16		38,000,000		37,965,167
Reckitt Benckiser Treasury Services PLC, 0.31%, 2/01/16^Ώ		50,000,000		50,000,000
Siemens Capital Co. LLC, 0.54%, 3/21/16		100,000,000		99,927,861
Simon Property Group, Inc.
0.26%, 2/01/16		26,200,000		26,200,000
0.43%, 2/29/16		50,000,000		49,983,667
Toyota Motor Credit Corp. 0.54%, 4/26/16^D		50,000,000		50,000,000


Description	Par Value		Value
0.60%, 3/01/16^D	$	50,000,000	$	50,000,000

TOTAL OTHER COMMERCIAL PAPER (COST $1,718,389,283)			$	1,718,389,283
U.S. GOVERNMENT AGENCY OBLIGATIONS – 3.2%
Federal Farm Credit Bank, 0.24%, 2/02/16		25,000,000		24,999,833
Federal Home Loan Bank, 0.28%, 2/24/16		100,000,000		99,982,111

TOTAL U.S. GOVERNMENT AGENCY OBLIGATIONS (COST $124,981,944)			$	124,981,944
U.S. TREASURY OBLIGATIONS – 8.4%
U.S. TREASURY NOTES – 8.4%
0.25%, 5/15/16		50,000,000		49,977,405
0.38%, 2/15/16		100,000,000		100,008,361
0.38%, 4/30/16		100,000,000		100,009,209
2.00%, 4/30/16		50,000,000		50,204,196
4.50%, 2/15/16		25,000,000		25,041,109

TOTAL U.S. TREASURY OBLIGATIONS (COST $325,240,280)			$	325,240,280
REPURCHASE AGREEMENT – 3.4%
Credit Suisse First Boston LLC, 0.34%, dated 1/29/16, due 2/1/16, repurchase price $131,003, 712 collateralized by U.S. Treasury Security 1.38%, maturing 6/30/18; total market value of $133,623,221.		131,000,000		131,000,000

TOTAL REPURCHASE AGREEMENT (COST $131,000,000)			$	131,000,000

TOTAL INVESTMENTS – 100.0% (COST $3,856,053,835)			$	3,856,053,835
OTHER ASSETS LESS LIABILITIES – 0.0%**				1,043,215

TOTAL NET ASSETS – 100.0%			$	3,857,097,050

Cost of investments for Federal income tax purposes is the same as for financial statement purposes.

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

The following is a summary of the inputs used as of January 31, 2016 in valuing the Fund’s assets carried at fair value:


Description	Par Value		Value
U.S. GOVERNMENT AGENCY OBLIGATIONS – 72.3%
FEDERAL FARM CREDIT BANK (FFCB) – 27.5%
0.38%, 2/01/16^D	$	150,000,000	$	150,000,000
0.20%, 2/04/16^‡		20,000,000		19,999,667
0.25%, 2/09/16^‡		25,750,000		25,748,569
0.38%, 2/14/16^D		100,000,000		100,000,000
0.39%, 2/16/16^D		175,000,000		174,999,058
0.41%, 2/22/16^D		97,000,000		96,996,861
0.40%, 2/24/16^D		100,000,000		99,994,481
0.43%, 2/25/16^D		150,000,000		150,000,000
0.28%, 2/29/16^‡		25,000,000		24,994,750
0.29%, 3/03/16^‡		80,000,000		79,980,711

TOTAL FEDERAL FARM CREDIT BANK (FFCB)			$	922,714,097
FEDERAL HOME LOAN BANK (FHLB) – 23.2%
0.20%, 2/03/16^‡		27,200,000		27,199,698
0.24%, 2/17/16^‡		200,000,000		199,979,111
0.24%, 2/19/16^‡		50,000,000		49,994,200
0.31%, 3/09/16^‡		50,000,000		49,984,327
0.31%, 3/11/16^‡		50,000,000		49,983,750
0.38%, 4/08/16^‡		250,000,000		249,826,451
0.39%, 4/15/16^‡		75,000,000		74,941,417
0.57%, 7/15/16^‡		75,000,000		74,806,812

TOTAL FEDERAL HOME LOAN BANK (FHLB)			$	776,715,766
FEDERAL HOME LOAN MORTGAGE CORPORATION (FHLMC) – 15.3%
0.16%, 2/03/16^‡		50,000,000		49,999,556
0.17%, 2/04/16^‡		50,000,000		49,999,292
0.18%, 2/09/16^‡		50,000,000		49,998,056
0.13%, 2/11/16^‡		50,000,000		49,998,194
0.14%, 2/12/16^‡		12,500,000		12,499,465
0.13%, 2/19/16^‡		99,383,000		99,376,540
0.20%, 2/24/16^‡		100,000,000		99,987,222
0.15%, 3/07/16^‡		50,000,000		49,992,708
0.42%, 4/01/16^‡		50,000,000		49,966,083

TOTAL FEDERAL HOME LOAN MORTGAGE CORPORATION (FHLMC)			$	511,817,116
FEDERAL NATIONAL MORTGAGE ASSOCIATION (FNMA) – 6.3%
0.40%, 3/16/16^‡		25,000,000		24,988,083
0.31%, 4/01/16^‡		78,850,000		78,810,575
0.37%, 5/02/16^‡		58,055,000		58,002,170


Description	Par Value		Value
0.52%, 7/13/16^‡	$	50,000,000	$	49,885,674

TOTAL FEDERAL NATIONAL MORTGAGE ASSOCIATION (FNMA)			$	211,686,502

TOTAL U.S. GOVERNMENT AGENCY OBLIGATIONS (COST $2,422,933,481)			$	2,422,933,481
U.S. TREASURY OBLIGATIONS – 12.1%
U.S. TREASURY NOTES – 12.1%
0.38%, 2/15/16		50,000,000		50,004,350
0.25%, 2/29/16		25,000,000		25,001,886
0.38%, 4/30/16		100,000,000		100,009,209
2.00%, 4/30/16		150,000,000		150,578,112
0.25%, 5/15/16		50,000,000		49,977,405
0.63%, 8/15/16		30,000,000		30,024,411

TOTAL U.S. TREASURY NOTES			$	405,595,373

TOTAL U.S. TREASURY OBLIGATIONS (COST $405,595,373)			$	405,595,373
REPURCHASE AGREEMENTS – 15.6%
Credit Suisse First Boston LLC, 0.34%,dated 1/29/16, due 2/1/16, repurchase price $296,008,387 collateralized by U.S. Treasury Securities 0.25% to 0.88%, maturing 5/15/16 to 2/28/18; total market value of $301,923,107.		296,000,000		296,000,000
TD Securities, Inc., 0.34%, dated 1/29/16,due 2/01/16, repurchase price $125,003,542, collateralized by U.S. Treasury Securities 3.13% to 4.63%, maturing 5/15/21 to 2/15/40; total market value of $127,500,021.		125,000,000		125,000,000
TD Securities, Inc., 0.35%, dated 1/29/16,due 2/01/16, repurchase price $100,002,917 collateralized by U.S. Treasury Securities 1.75% to 2.38%, maturing 2/28/22 to 8/15/24; total market value of $102,000,073.		100,000,000		100,000,000

TOTAL REPURCHASE AGREEMENTS (COST $521,000,000)			$	521,000,000

TOTAL INVESTMENTS – 100.0% (COST $3,349,528,854)			$	3,349,528,854
OTHER ASSETS LESS LIABILITIES – 0.0%				461,063

TOTAL NET ASSETS – 100.0%			$	3,349,989,917

Cost of investments for Federal income tax purposes is the same as for financial statement purposes.

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

Level 2 – other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.)

Level 3 – significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments)

The following is a summary of the inputs used as of January 31, 2016 in valuing the Fund’s assets carried at fair value:


Description	Par Value		Value
U.S. TREASURY OBLIGATIONS – 86.4%
U.S. TREASURY BILLS – 19.3%
0.20%, 2/04/16^‡	$	50,000,000	$	49,999,181
0.30%, 2/25/16^‡		50,000,000		49,990,167
0.26%, 4/21/16^‡		50,000,000		49,972,111

TOTAL U.S. TREASURY BILLS			$	149,961,459
U.S. TREASURY NOTES – 67.1%
0.38%, 2/15/16		50,000,000		50,006,257
0.25%, 2/29/16		50,000,000		50,002,222
0.25%, 4/15/16		75,000,000		74,975,835
0.38%, 4/30/16		50,000,000		50,000,000
2.00%, 4/30/16		50,000,000		50,204,196
2.63%, 4/30/16		50,000,000		50,276,176
0.63%, 7/15/16		25,000,000		25,019,010
0.38%, 7/31/16^D		50,000,000		50,002,261
0.63%, 8/15/16		20,000,000		20,016,274
0.36%, 10/31/16^D		100,000,000		99,978,036

TOTAL U.S. TREASURY NOTES			$	520,480,267

TOTAL U.S. TREASURY OBLIGATIONS (COST $670,441,726)			$	670,441,726


Description	Par Value		Value
REPURCHASE AGREEMENT – 3.7%
Credit Suisse First Boston LLC, 0.34%,dated 1/29/16, due 2/1/16, repurchase price $29,000,822 collateralized by U.S. Treasury Security 2.63%, maturing 6/15/20;total market value of $29,583,260.	$	29,000,000	$	29,000,000

TOTAL REPURCHASE AGREEMENT (COST $29,000,000)			$	29,000,000

TOTAL INVESTMENTS – 90.1% (COST $699,441,726)			$	699,441,726
OTHER ASSETS LESS LIABILITIES – 9.9%				76,730,850

TOTAL NET ASSETS – 100.0%			$	776,172,576

Cost of investments for Federal income tax purposes is the same as for financial statement purposes.

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

Level 2 – other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.)

Level 3 – significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments)

The following is a summary of the inputs used as of January 31, 2016 in valuing the Fund’s assets carried at fair value:


Description	Par Value		Value
COMMERCIAL PAPER – 71.3%
CONNECTICUT – 3.9%
Connecticut State Health & Educational Facility Authority, Revenue Bonds, (Series V-1), (Yale University)
0.02%, 03/02/16	$	4,000,000	$	4,000,000
0.02%, 03/09/16		16,290,000		16,290,000

TOTAL CONNECTICUT			$	20,290,000
ILLINOIS – 4.0%
Illinois Educational Facilities Authority, (Northern Trust, LOC), 0.05%, 2/01/16		20,793,000		20,793,000

TOTAL ILLINOIS			$	20,793,000
MARYLAND – 5.3%
Johns Hopkins University, (Series A), 0.04%, 2/04/16		5,000,000		5,000,000
Johns Hopkins University, (Series B), 0.04%, 3/02/16		12,000,000		12,000,000
Montgomery County, MD, GO Unlimited Refunding Notes, BANs, (Series 10-A), (PNC Bank, LIQ), 0.03%, 2/16/16		3,750,000		3,750,000
Montgomery County, MD, GO Unlimited Refunding Notes, BANs, (Series 10-B), (State Street Bank, LIQ), 0.02%, 2/17/16		7,100,000		7,100,000

TOTAL MARYLAND			$	27,850,000
MASSACHUSETTS – 8.0%
Massachusetts Bay Transportation Authority, 0.03%, 2/04/16		21,475,000		21,475,000
Massachusetts Health & Educational Facilities Authority, Revenue Bonds, (Series EE), (Harvard University), 0.02%, 3/03/16		20,403,000		20,403,000

TOTAL MASSACHUSETTS			$	41,878,000
MICHIGAN – 4.0%
University of Michigan, (Series J-1)
0.02%, 02/04/16		8,000,000		8,000,000
0.02%, 02/16/16		12,795,000		12,795,000

TOTAL MICHIGAN			$	20,795,000


Description	Par Value		Value
MINNESOTA – 6.1%
City of Rochester, MN, Health Care Facilities, Revenue Bonds, (Series 00-C), (Mayo Medical Center), 0.02%, 2/05/16	$	12,000,000	$	12,000,000
University of Minnesota
0.02%, 02/02/16		3,000,000		3,000,000
0.10%, 05/04/16		17,000,000		17,000,000

TOTAL MINNESOTA			$	32,000,000
NEVADA – 4.2%
Las Vegas Valley Water District, NV, General Obligation Notes, (Series 2004-A), 0.08%, 4/06/16		22,000,000		22,000,000

TOTAL NEVADA			$	22,000,000
NORTH CAROLINA – 3.6%
North Carolina Capital Facilities Finance Agency, Educational Facilities, Revenue Bonds, (Duke University), 0.06%, 2/09/16		1,225,000		1,225,000
North Carolina Capital Facilities Finance Agency, Educational Facilities, Revenue Bonds, (Series A2), (Duke University), 0.04%, 3/03/16		2,545,000		2,545,000
University of North Carolina, (Series D)
0.02%, 02/16/16		5,000,000		5,000,000
0.02%, 02/17/16		10,000,000		10,000,000

TOTAL NORTH CAROLINA			$	18,770,000
OHIO – 2.2%
Ohio Higher Educational Facility Commission, (Case Western University), (JPMorgan Chase, LIQ), 0.10%, 3/03/16		3,500,000		3,500,000
Ohio Higher Educational Facility Commission, (Case Western University), (Northern Trust, LIQ), 0.10%, 3/03/16		8,110,000		8,110,000

TOTAL OHIO			$	11,610,000
TENNESSEE – 1.6%
State of Tennessee, GO, (Series 00-A), (Tenn Consolidated Retirement System, LOC), 0.07%, 4/05/16		8,250,000		8,250,000

TOTAL TENNESSEE			$	8,250,000
TEXAS – 21.4%
City of Houston, TX, GO, (Series E-2), (Wells Fargo Bank), 0.04%, 3/01/16		15,000,000		15,000,000


Description	Par Value		Value
City of San Antonio, TX, Electric & Gas Systems, (Series A), (JPMorgan Chase, LIQ), 0.08%, 2/03/16	$	12,000,000	$	12,000,000
Dallas Area Rapid Transit (Series - I), 0.06%, 4/05/16		20,000,000		20,000,000
Texas A&M University, (Series B), 0.07%, 4/07/16		20,000,000		20,000,000
Texas Public Finance Authority, (Series 2003), (Comptroller of Public Accounts TX, LIQ), 0.02%, 2/04/16		10,100,000		10,100,000
Texas Public Finance Authority, GO, (Series 2008), (Comptroller of Public Accounts TX, LIQ), 0.02%, 2/04/16		7,860,000		7,860,000
University of Houston, (Series A)
0.04%, 02/09/16		4,200,000		4,200,000
0.06%, 03/03/16		2,600,000		2,600,000
University of Texas, 0.06%, 4/04/16		20,000,000		20,000,000

TOTAL TEXAS			$	111,760,000
VIRGINIA – 3.2%
University of Virginia
0.02%, 02/03/16		8,300,000		8,300,000
0.02%, 02/03/16		8,100,000		8,100,000

TOTAL VIRGINIA			$	16,400,000
WISCONSIN – 3.8%
State of Wisconsin, GO, (Series 06-A), 0.02%, 2/03/16		20,000,000		20,000,000

TOTAL WISCONSIN			$	20,000,000

TOTAL COMMERCIAL PAPER (COST $372,396,000)			$	372,396,000
MUNICIPAL BONDS – 7.9%¿
FLORIDA – 0.5%
JEA Electric System Revenue, Refunding Revenue Bonds, Monthly VRDNs, (Series 01-D), (U.S. Bank, SPA), 0.01%, 2/01/16		2,800,000		2,800,000

TOTAL FLORIDA			$	2,800,000
MARYLAND – 1.3%
Maryland State, Health and Higher Education Facilities Authority, Refunding Revenue Bonds, Monthly VRDNs, (Series B), 0.01%, 2/07/16		6,800,000		6,800,000

TOTAL MARYLAND			$	6,800,000
PENNSYLVANIA – 0.9%
Philadelphia PA, Hospitals and Higher Education Facilities Authority, Hospital Revenue, Refunding Bonds, Monthly VRDNs, (Children’s Hospital of Philadelphia), 0.01%, 2/01/16		4,500,000		4,500,000

TOTAL PENNSYLVANIA			$	4,500,000


Description	Par Value		Value
TEXAS – 3.3%
City of Houston, TX, Combined Utility System, Monthly VRDNs, 0.01%, 2/07/16	$	5,000,000	$	5,000,000
Harris County, TX, (The Methodist Hospital), Monthly VRDNs, 0.01%, 2/01/16		12,200,000		12,200,000

TOTAL TEXAS			$	17,200,000
UTAH – 1.9%
Utah County Hospital, Refunding Revenue Bonds (Series C), Daily VRDNs, (IHC Health Services, Inc.), (U.S. Bank, SPA), 0.01%, 2/07/16		10,000,000		10,000,000

TOTAL UTAH			$	10,000,000

TOTAL MUNICIPAL BONDS (COST $41,300,000)			$	41,300,000
SHORT-TERM MUNICIPAL BONDS – 20.8%¿
DELAWARE – 7.9%
Delaware State Health Facilities Authority, Refunding Revenue Bonds, (Series A), Daily VRDNs, (Christiana Care Health Services, OBG), 0.01%, 2/01/16		16,200,000		16,200,000
Delaware State Health Facilities Authority, Revenue Bonds, (Series A), Weekly VRDNs, (Christiana Care Health Services, OBG), 0.01%, 2/07/16		4,000,000		4,000,000
University of Delaware, Revenue Bonds, (Series B), Daily VRDNs, (University & College Imps.)/(Bank of America N.A., SPA), 0.01%, 2/01/16		4,500,000		4,500,000
University of Delaware, Revenue Bonds, Daily VRDNs, (TD Bank N.A., SPA), 0.01%, 2/01/16		16,660,000		16,660,000

TOTAL DELAWARE			$	41,360,000
FLORIDA – 0.6%
Orange County Housing Finance Authority, Refunding Revenue Bonds, Weekly VRDNs, (Fannie Mae), 0.03%, 2/07/16		3,180,000		3,180,000

TOTAL FLORIDA			$	3,180,000
LOUISIANA – 1.4%
Louisiana State Public Facilities Authority, (Air Products & Chemicals), Monthly VRDNs, 0.01%, 2/01/16		7,300,000		7,300,000

TOTAL LOUISIANA			$	7,300,000
MINNESOTA – 1.7%
City of Rochester, MN, Refunding Revenue Bonds, (Series A) Weekly VRDNs, (Mayo Clinic, OBG), 0.01%, 2/07/16		8,900,000		8,900,000

TOTAL MINNESOTA			$	8,900,000
NEW HAMPSHIRE – 0.9%
New Hampshire HEFA, Revenue Bonds, Weekly VRDNs, (Dartmouth College, OBG)/(U.S. Bank N.A., SPA), 0.01%, 2/07/16		4,775,000		4,775,000

TOTAL NEW HAMPSHIRE			$	4,775,000


Description	Par Value		Value
TEXAS – 3.5%
Harris County Health Facilities Development, Refunding Revenue Bonds, Monthly VRDNs, (Series A-1), (Methodist Hospital), 0.01%, 2/01/16		7,900,000		7,900,000
State of Texas, GO Unlimited Notes, (Series B), Weekly VRDNs, (State Street / CalPERS, SPA), 0.01%, 2/07/16		10,480,000		10,480,000

TOTAL TEXAS			$	18,380,000
UTAH – 1.3%
City of Murray, Revenue Bonds, (Series D), Daily VRDNs, (IHC Health Services, Inc., OBG), 0.01%, 2/01/16		6,800,000		6,800,000

TOTAL UTAH			$	6,800,000


Description	Par Value		Value
VIRGINIA – 3.5%
Loudon County Industrial Development Authority, Revenue Bonds, (Series D), Weekly VDRNs, (Howard Hughes Medical Center), 0.01%, 2/07/16		18,000,000		18,000,000

TOTAL VIRGINIA			$	18,000,000

TOTAL SHORT-TERM MUNICIPAL BONDS (COST $108,695,000)			$	108,695,000

TOTAL INVESTMENTS – 100.0% (COST $522,391,000)			$	522,391,000
OTHER LIABILITIES LESS ASSETS – 0.0%**				(162,800	)

TOTAL NET ASSETS – 100.0%			$	522,228,200

Cost of investments for Federal income tax purposes is the same as for financial statement purposes.

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

Level 2 – other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.)

Level 3 – significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments)

The following is a summary of the inputs used as of January 31, 2016 in valuing the Fund’s assets carried at fair value:

Wilmington Funds (the “Trust”) is registered under the Investment Company Act of 1940, as amended (the “Act”), as an open-end management investment company. The Trust consists of 16 portfolios, (individually referred to as the “Fund” or collectively as the “Funds”).

The following is a summary of significant accounting policies consistently followed by the Funds in the preparation of their financial statements. These policies are in conformity with U.S. generally accepted accounting principles (“GAAP”). The Funds are investment companies and follow accounting and reporting guidance under Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASU”) Topic 946, “Financial Services—Investment Companies.” The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts of assets, liabilities, expenses and revenues reported in the financial statements. Actual results could differ from those estimated.

Investment Valuation – Fair value of the Funds’ portfolio securities are determined as follows:

Trading in foreign securities may be completed at times which vary from the closing of the New York Stock Exchange (“NYSE”). In computing their NAV, the Funds value foreign securities using the latest closing price on the primary exchange on which they are traded immediately prior to the closing of the NYSE. Certain foreign currency exchange rates are generally determined at the latest rate prior to the closing of the NYSE. Foreign securities quoted in foreign currencies are translated into U.S. dollars at current rates. Events that affect these values and exchange rates may occur between the times at which they are determined and the closing of the NYSE. If such events materially affect the value of portfolio securities, these securities may be valued at their fair value as determined in good faith by the Trustees, although the actual calculation may be done by others. An event is considered material if there is both an affirmative expectation that the security’s value will change in response to the event and a reasonable basis for quantifying the resulting change in value.

The Trust follows the authoritative guidance (GAAP) for fair value measurements. The guidance establishes a framework for measuring fair value and a hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. The guidance establishes three tiers of inputs that may be used to measure fair value. The three tiers of inputs are summarized at the end of each Fund’s Portfolio of Investments. The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

The Funds’ policy is to disclose transfers between levels based on valuations at the beginning of the reporting period. Each portfolio may hold securities which are periodically fair valued in accordance with the Funds’ fair value procedures. This may result in movements between Levels 1, 2 and 3 throughout the period. As of January 31, 2016, there were no transfers between Levels 1, 2 and 3 assets and liabilities, based on levels assigned to securities at the beginning of the period. This does not include transfers between Level 1 and Level 2 due to the Multi-Manager International Equity Fund, Multi-Manager Alternatives Fund and the Multi-Manager Real Asset Fund utilizing international fair value pricing during the period. Pursuant to the Funds’ fair value procedures noted previously, equity securities (including exchange traded securities and other open-end regulated investment companies) and exchange traded derivatives are generally categorized as Level 1 securities in the fair value hierarchy. Fixed income securities, non-exchange traded derivatives and money market instruments are generally categorized as Level 2 securities in the fair value hierarchy.

Investments for which there are no such quotations, or for which quotations do not appear reliable, are valued at fair value as determined in accordance with procedures established by and under the general supervision of the Trustees. These valuations are typically categorized as Level 2 or Level 3 securities in the fair value hierarchy.

Repurchase Agreements – Repurchase agreements are transactions in which a Fund buys a security from a dealer or bank and agrees to sell the security back at a mutually agreed upon time and price. The repurchase price exceeds the sale price, reflecting the Fund’s return on the transaction. It is each Fund’s policy to require the counterparty to a repurchase agreement to transfer to the Funds’ custodian or sub-custodian eligible securities or cash with a market value (after transaction costs) at least equal to the repurchase price to be paid under the repurchase agreement. The eligible securities are transferred to accounts with the custodian or sub-custodian in which the Funds hold a “securities entitlement” and exercise “control” as those terms are defined in the Uniform Commercial Code. The Funds have established procedures for monitoring the market value of the transferred securities and requiring the transfer of additional eligible securities if necessary to equal at least the repurchase price. These procedures also allow the counterparty to require securities to be transferred from the account to the extent that their market value exceeds the repurchase price or in exchange for other eligible securities of equivalent market value.

The insolvency of the counterparty or other failure to repurchase the securities may delay the disposition of the underlying securities or cause the Funds to receive less than the full repurchase price.

Real Estate Investment Trusts – The Funds may invest in real estate investment trusts (“REITs”) that involve risks not associated with investing in stocks. Risks include declines in the value of real estate, general and economic conditions, changes in the value of the underlying property and defaults by borrowers. The value of assets in the real estate industry may go through cycles of relative underperformance and outperformance in comparison to equity securities markets in general. Dividend income is recorded using management’s estimate of the income included in distributions received from REIT investments. The actual amounts of income, return of capital and capital gains are only determined by each REIT after its fiscal year-end and may differ from the estimated amount. Estimates of income are adjusted in the Funds to the actual amounts when the amounts are determined.

Warrants and Rights – Certain Funds hold warrants and rights acquired either through a direct purchase, including as part of private placement, or pursuant to corporate actions. Warrants and rights entitle the holder to buy a proportionate amount of common stock at a specific price and time through the expiration dates. Such warrants and rights are held as long positions by the Funds until exercised, sold or expired. Equity-linked warrants are purchased in order to own local exposure to certain countries in which the Funds are not locally registered. Warrants and rights are valued at fair value in accordance with the Trustees’ approved fair value procedures.

Swap Agreements – Certain Funds may enter into credit default, interest rate, total return and other forms of swap agreements. A swap agreement is an agreement to exchange the return generated by one instrument for the return generated by another instrument. The swap agreements are valued daily at current market value and any change in value is included in the net unrealized appreciation or depreciation on investments. Payments received or paid by the Fund are recorded as realized gains or losses upon termination or maturity of the swap. Swap agreements outstanding at period end, if any, are listed on the Portfolios of Investments. The Fund may utilize swap agreements in an attempt to gain exposure to the securities in a market without actually purchasing those securities, or to hedge a position.

Interest rate swaps - Interest rate swaps represent an agreement between counterparties to exchange cash flows based on the difference between two interest rates, applied to a notional principal amount for a specified period. The Fund is subject to interest rate risk exposure in the normal course of pursuing its investment objectives. The Fund may use interest rate swaps to either maintain its ability to generate steady cash flow by receiving a stream of fixed rate payments or to increase exposure to prevailing market rates by receiving floating rate payments using interest rate swap contracts. The Fund’s maximum risk of loss from counterparty credit risk is the discounted net value of the cash flows to be received from the counterparty over the contract’s remaining life. This risk may be mitigated by having a master netting arrangement between the Fund and the counterparty which may permit the Fund to offset amounts payable by the Fund to the same counterparty against amounts to be received; and by the receipt of collateral from the counterparty by the Fund, to cover the Fund’s exposure to the counterparty. However, there is no assurance that such mitigating factors are easily enforceable. The Real Asset Fund is subject to interest rate risk exposure in the normal course of pursuing its investment objectives. Because the portfolio holds fixed rate bonds, the value of these bonds may decrease if interest rates rise. To help hedge against this risk and to maintain its ability to generate income at prevailing market rates, the portfolio entered into interest rate swap agreements. Additionally, the portfolio invested in interst rate swaps as a risk-neutral substitute for physical securities, to obtain exposure in markets where no physical securities were available, and to refine the risk exposure in the portfolio (i.e. duration, inflation, credit, maturity mix, etc.)

Centrally cleared swap agreements - Centrally cleared swap agreements (“swap”) are agreements executed through a broker but are cleared through a central counterparty (the “CCP”) and a Fund’s counterparty on the swap becomes the CCP. The Fund is required to interface with the CCP through a broker and upon entering into a centrally cleared swap is required to deposit initial margin with the broker in the form of cash or securities in an amount that varies depending on the size and risk profile of a particular swap. Centrally cleared swaps are subject to general market risks and to liquidity risk. Pursuant to the swap, the Fund agrees to pay to or receive from the counterparty an amount of cash equal to the daily fluctuation in the value of the swap (“Variation Margin”). Such payments are recorded by the Fund as unrealized gains or losses until the contract is closed or settled at which point the gain or loss is realized. The Fund may utilize swap agreements in an attempt to gain exposure to the securities in a market without actually purchasing those securities, or to hedge a position.

Securities Sold Short – Certain Funds may sell securities short. A short sale is a transaction in which the Fund sells a security it does not own in anticipation of a decline in market price. To sell a security short, the Fund must borrow the security. The Fund’s obligation to replace the security borrowed and sold short will be fully collateralized at all times by the proceeds from the short sale retained by the broker and by cash and securities deposited in a segregated account with the Fund’s custodian. If the price of the security sold short increases between the time of the short sale and the time the Fund replaces the borrowed security, the Fund will realize a loss, and if the price declines during the period, the Fund will realize a gain. Any realized gain will be decreased, and any realized loss increased, by the amount of transaction costs. The Funds are required to pay the lender any dividends declared on short positions. Such amounts are recorded on the ex-dividend date as dividends expense on securities sold short on the Statement of Operations, when present.

In accordance with the terms of its prime brokerage agreement, the Funds may be charged a fee on borrowed securities. Such fees are calculated on a daily basis based upon the market value of each borrowed security and a variable rate that is dependent upon the availability of such security. The Funds are required to maintain margin cash balances at the prime broker sufficient to satisfy its short sales positions on a daily basis. The Fund is charged interest expense at the Fed Funds open rate plus 50 basis points on the amount of any shortfall in the required cash margin. The Funds record these prime broker charges on a net basis as Prime Broker interest expense on securities sold short on the Statement of Operations, when present.

Options – Certain Funds may either purchase or write options in order to hedge against adverse market movements or fluctuations in value caused by changes in prevailing interest rates, value of equities or foreign exchange rates, with respect to securities which the Fund currently owns or intends to purchase. A Fund’s principal reason for writing options is to realize, through receipt of premiums, a greater current return than would be realized on the underlying security alone. When a Fund purchases an option, it pays a premium and an amount equal to that premium is recorded as an asset. When a Fund writes an option, it receives a premium and an amount equal to that premium is recorded as a liability. The asset or liability is adjusted daily to reflect the current market value of the option. If an option expires unexercised, a Fund realizes a gain or loss to the extent of the premium received or paid. If an option is exercised, the premium received or paid is recorded as an adjustment to the proceeds from the sale or the cost of the purchase in determining whether a Fund has realized a gain or loss. The difference between the premium and the amount received or paid on effecting a closing purchase or sale transaction is also treated as a realized gain or loss. Gain or loss on purchased options is included in net realized gain or loss on investment transactions. Gain or loss on written options is presented separately as net realized gain or loss on options written. A Fund, as writer of options, may have no control over whether the underlying securities may be sold (called) or purchased (put). As a result, a Fund bears the market risk of an unfavorable change in the price of the security underlying the written option. A Fund, as purchaser of over-the-counter options, bears the risk of the potential inability of the counterparties to meet the terms of their contracts.

Foreign Currency Translation – The accounting records of the Funds are maintained in U.S. dollars. All assets and liabilities denominated in foreign currencies (“FCs”) are translated into U.S. dollars based on the rates of exchange of such currencies against U.S. dollars on the date of valuation. Purchases and sales of securities, income and expenses are translated at the rate of exchange quoted on the respective date that such transactions are recorded. The Funds do not isolate that portion of results of operations resulting from changes in foreign exchange rates on investments from fluctuations arising from changes in the net realized and unrealized gain or loss from investments.

Reported net realized foreign exchange gains or losses arise from sales of portfolio securities, sales and maturities of short-term securities, sales of FCs, currency gains or losses realized between the trade and settlement dates on securities transactions, the difference between the amounts of dividends, interest, and foreign withholding taxes recorded on the Funds’ books and the U.S. dollar equivalent of the amounts actually received or paid. Net unrealized foreign exchange gains and losses arise from changes in the value of assets and liabilities other than investments in securities at period end, resulting from changes in the exchange rate.

Forward Foreign Currency Contracts – Certain Funds may enter into foreign currency commitments or foreign currency exchange transactions. A Fund may enter into foreign currency contract transactions to protect assets against adverse changes in foreign currency exchange rates or exchange control regulations. Purchased contracts are used to acquire exposure to foreign currencies; whereas, contracts to sell are used to hedge a Fund’s securities against currency fluctuations. Risks may arise upon entering into these transactions from the potential inability of counterparties to meet the terms of their commitments and from unanticipated movements in security prices or foreign exchange rates. The foreign currency transactions are adjusted by the daily exchange rate of the underlying currency and any gains or losses are recorded for financial statement purposes as unrealized until the settlement date. The International Fund entered into forward foreign currency contracts in connection with settling planned purchases or sales of securities. The Real Asset Fund entered into forward foreign currency contracts in connection with settling planned purchases or sales of securities, to hedge the currency exposure associated with some or all of the portfolio’s securities or as a means to express a view on the direction of a currency’s value as a part of the broader investment strategy.

Futures Contracts – The Funds may invest in financial futures contracts to hedge their existing portfolios, manage cash flows, enhance yield and to potentially reduce transaction costs. Upon entering into a futures contract with a broker, the Fund is required to deposit in a segregated account a specified amount of cash or U.S. government securities. Futures contracts are valued daily and unrealized gains or losses are recorded in a “variation margin” account. Daily, and prior to computing its NAV, the Fund receives from or pays to the broker a specified amount of cash based upon changes in the variation margin account. When a contract is closed, the Fund recognizes a realized gain or loss. Futures contracts have market risks, including the risk that the change in the value of the contract may not correlate with the changes in the value of the underlying securities. Risk of loss may exceed amounts recognized on the statements of assets and liabilities. The Alternatives Fund used foreign exchange futures contracts to gain exposure to the foreign currency markets both on a long and short strategy. The Real Asset Fund used futures contracts to manage interest rate exposure, adjust duration and curve exposure and to gain exposure to foreign interest rates. The Real Asset Fund also used money market futures during the period in order to adjust the portfolio’s interest rate exposure on the front-end of the yield curve and to adjust the overall duration positioning of the portfolio.

Restricted Securities – Restricted securities are securities that either (a) cannot be offered for public sale without first being registered, or being able to take advantage of an exemption from registration, under the Securities Act of 1933, as amended, or (b) are subject to contractual restrictions on public sales. In some cases, when a security cannot be offered for public sale without first being registered, the issuer of the restricted security has agreed to register such security for resale, at the issuer’s expense, either upon demand by the Fund or in connection with another registered offering of the security. Many such restricted securities may be resold in the secondary market in transactions exempt from registration. Restricted securities may be determined to be liquid under criteria established by the Trustees. A Fund will not incur any registration costs upon such resales. The Funds’ restricted securities are valued at the price provided by dealers in the secondary market or, if no market prices are available, at the fair value as determined in accordance with procedures established by and under the general supervision of the Trustees.

Lending of Portfolio Securities – The Trust has entered into an agreement with their custodian whereby the custodian may lend securities owned by the Funds to brokers, dealers and other financial organizations. Any increase or decrease in the fair value of securities loaned and any interest or dividends earned on those securities during the term of the loan would be for the account of the Fund. In exchange for lending securities under the terms of the agreement with their custodian, the Funds receive a lender’s fee. Fees earned by the Funds on securities lending are recorded as income. Loans of securities by the Funds are collateralized by cash, U.S. government securities or money market instruments that are maintained at all times in an amount at least equal to the current market value of the loaned securities plus a margin which varies depending on the type of securities owned. The custodian establishes and maintains the collateral in a segregated account. The Funds have the right under the lending agreement to recover the securities from the borrower on demand. The market value of the loaned securities is determined at the close of business of the Fund and any additional required collateral is delivered to the Fund on the next business day.

Investments purchased with cash collateral are presented on the Portfolio of Investments under the caption “Cash Collateral Invested for Securities on Loan.”

As of January 31, 2016, the Funds listed below had securities with the following values on loan:

The Funds maintain the risk of any loss on the securities on loan as well as the potential loss on investments purchased with cash collateral received from securities lending.

Affiliated holdings are securities and mutual funds which are managed by Wilmington Funds Management Corp. (the “Advisor”) or an affiliate of the Advisor or which are distributed by an affiliate of the Funds’ distributor. Transactions with affiliated companies during the period ended January 31, 2016 are as follows:

Since New York Municipal Bond Fund invests a substantial portion of assets in issuers located in one state, it will be more susceptible to factors adversely affecting issuers of that state than would be a comparable tax-exempt mutual fund that invests nationally.

Multi-Manager International Fund invests in securities of non-U.S. issuers. Although the Fund maintains a diversified investment portfolio, the political or economic developments within a particular country or region may have an adverse effect on the ability of domiciled issuers to meet their obligations. Additionally, political or economic developments may have an effect on the liquidity and volatility of portfolio securities and currency holdings.

Multi-Manager Alternatives Fund uses strategies that include investments that have a low correlation to traditional asset classes. Strategies may include commodities, convertible arbitrage, event driven, long/short, market neutral, merger arbitrage and pairs trading.

Management has evaluated events and transactions for potential recognition or disclosure in the financial statements through the date the financial statements were issued. Management has determined that there are no material events that would require disclosure in the Fund’s financial statements through this date, except as follows:

At a meeting of the Trustees of the Trust on March 15, 2016, the Trustees determined that each of the Wilmington Prime Money Market Fund (the “Prime Fund”) and the Wilmington Tax-Exempt Money Market Fund (the “Tax Exempt Fund;” the Tax Exempt Fund and the Prime Fund are also referred to as “Target Funds”), each a series of the Trust, should be merged into the Wilmington U.S. Government Money Market Fund (“Acquiring Fund” and, collectively with the Target Funds, the “Funds”).

The closing for the Prime Fund merger is expected to occur on or about August 15, 2016. The closing for the Tax Exempt Fund merger is expected to occur on or about August 22, 2016. Each Target Fund intends to continue to accept purchases from existing shareholders (including through the reinvestment of dividends and capital gains) up to and including the day of its merger.

Certifications pursuant to Rule 30a-2(a) under the 1940 Act and Section 302 of the Sarbanes-Oxley Act of 2002 are attached hereto.

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.

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.


	Level 1		Level 2		Level 3		Total
Investments in Securities
Common Stocks	$	636,255,889	$	658,778	$	—	$	636,914,667
Investment Companies		7,109,416		—		—		7,109,416
Rights		30		128		—		158
Warrants		39,652		—		—		39,652
Money Market Fund		1,678,147		—		—		1,678,147
Repurchase Agreements		—		17,475,850		—		17,475,850

Total	$	645,083,134	$	18,134,756	$	—	$	663,217,890


Underlying Contracts to Buy/Sell	Expiration Date	Number of Contracts		Contract Amount		Contract at Value		Unrealized Appreciation (Depreciation)
LONG POSITIONS:
US Dollar Czech Koruna	March 2016		4	$	399,749	$	401,499	$	1,750
US Dollar New Zealand Dollar	March 2016		4		262,267		258,400		(3,867	)
US Dollar Norwegian Krone	March 2016		4		402,160		394,051		(8,109	)
SHORT POSITIONS:
Canadian Dollar Future	March 2016		5		358,578		356,850		1,728
Euro Future	March 2016		247		33,660,258		33,463,868		196,390
Great Britain Pound Future	March 2016		25		2,267,880		2,225,313		42,567
Japanese Yen Future	March 2016		107		11,283,666		11,052,431		231,235
Swedish Krona Future	March 2016		4		399,919		402,241		(2,322	)
Australian Dollar Future	March 2016		13		923,378		916,891		6,487
NET UNREALIZED APPRECIATION (DEPRECIATION) ON FINANCIAL FUTURES CONTRACTS								$	465,859


Currency Code		Currency
BRL		Brazilian Real
CAD		Canadian Dollar
COP		Colombian Peso
DKK		Danish Krone
EUR		Euro
GBP		Pound Sterling
JPY		Japanese Yen
MXN		Mexican Peso
NZD		New Zealand Dollar
THB		Thai Baht
TRY		Turkish Lira
ZAR		South African Rand


Underlying Contracts to Buy/Sell	Expiration Date		Number of Contracts	Contract Amount		Contract at Value		Unrealized Appreciation (Depreciation)
LONG POSITIONS:
5YR U.S. Treasury Note(CBT)		March 2016	38	$	4,504,384	$	4,585,531	$	81,147
SHORT POSITIONS:
10YR US Treasury Note(CBT)		March 2016	76		9,614,470		9,847,938		(233,468	)
US LONG BOND(CBT)		March 2016	23		3,612,000		3,703,718		(91,718	)
NET UNREALIZED APPRECIATION (DEPRECIATION) ON FINANCIAL FUTURES CONTRACTS								$	(244,039	)


Counterparty	Termination Date		Notional Amount		Fixed Rate			Floating Rate	Fair Value			Upfront Premium Paid (Received)			Unrealized Appreciation (Depreciation)
CENTRALLY CLEARED
Chicago Mercantile Exchange#		9/29/22	$	36,400,000		5.78	%	28 Day MXN TIIE	$	33,154		$	(4,347	)	$	37,501
Chicago Mercantile Exchange*		10/06/22		7,000,000		5.78	%	28 Day MXN TIIE		6,303			924			5,379
Chicago Mercantile Exchange*		12/16/17		7,100,000		1.50	%	3 Month USD LIBOR		(90,798	)		(70,645	)		(20,153	)
Chicago Mercantile Exchange#		6/15/18		6,400,000		1.25	%	3 Month USD LIBOR		37,025			(3,642	)		40,667
Chicago Mercantile Exchange*		12/16/20		2,000,000		2.00	%	3 Month USD LIBOR		(67,981	)		(48,929	)		(19,052	)
Chicago Mercantile Exchange#		12/16/22		700,000		2.25	%	3 Month USD LIBOR		32,751			4,860			27,891
Chicago Mercantile Exchange#		9/16/25		1,100,000		2.23	%	3 Month USD LIBOR		(42,992	)		—			(42,992	)
Chicago Mercantile Exchange#		9/16/25		600,000		2.22	%	3 Month USD LIBOR		(23,042	)		—			(23,042	)
Chicago Mercantile Exchange#		10/02/25		3,900,000		2.35	%	3 Month USD LIBOR		(193,186	)		—			(193,186	)
Chicago Mercantile Exchange#		10/28/25		20,300,000		2.80	%	3 Month USD LIBOR		(397,087	)		(104,932	)		(292,155	)
London Clearing House*		6/15/26		2,500,000		2.25	%	3 Month USD LIBOR		(85,732	)		(10,246	)		(75,486	)
London Clearing House*		12/16/45		300,000		2.75	%	3 Month USD LIBOR		(31,879	)		15,974			(47,853	)
Chicago Mercantile Exchange*		12/31/16		25,600,000		1.60	%	6 Month GBP LIBOR		295,741			—			295,741
Chicago Mercantile Exchange*		3/16/18		12,300,000		1.50	%	6 Month GBP LIBOR		(241,730	)		(138,291	)		(103,439	)
Chicago Mercantile Exchange*		12/31/19		10,500,000		2.27	%	6 Month GBP LIBOR		(717,616	)		—			(717,616	)
Chicago Mercantile Exchange*		9/18/23		140,000,000		1.00	%	6 Month JPY LIBOR		(74,180	)		(9,264	)		(64,916	)
Chicago Mercantile Exchange*		9/18/23		120,000,000		1.00	%	6 Month JPY LIBOR		(63,583	)		(6,099	)		(57,484	)
Chicago Mercantile Exchange*		3/20/24		60,000,000		1.00	%	6 Month JPY LIBOR		(32,819	)		(21,678	)		(11,141	)
London Clearing House*		12/16/25		4,500,000		2.50	%	6 Month USD LIBOR		(293,787	)		68,277			(362,064	)
									$	(1,951,438	)	$	(328,038	)	$	(1,623,400	)
OVER THE COUNTER
HSBC Bank USA NA#		1/02/18	$	3,300,000		13.03	%	BRL Cetip	$	(25,933	)	$	(2,731	)	$	(23,202	)
Goldman Sachs Group, Inc.#		1/02/18		2,500,000		13.03	%	BRL Cetip		(19,646	)		1,168			(20,814	)
Credit Suisse International#		1/02/18		1,400,000		13.73	%	BRL Cetip		(7,199	)		34			(7,233	)
Barclays Bank PLC#		1/02/18		1,100,000		13.03	%	BRL Cetip		(8,644	)		(110	)		(8,534	)
JP Morgan Chase Bank NA#		1/02/18		600,000		13.03	%	BRL Cetip		(4,715	)		(626	)		(4,089	)
Deutsche Bank AG#		1/04/21		5,100,000		14.50	%	BRL Cetip		(39,706	)		—			(39,706	)
HSBC Securities, Inc.#		1/04/21		3,100,000		14.50	%	BRL Cetip		(24,135	)		(174	)		(23,961	)
HSBC Securities, Inc.#		1/04/21		2,500,000		13.45	%	BRL Cetip		(38,245	)		279			(38,524	)
HSBC Securities, Inc.#		1/04/21		2,400,000		13.42	%	BRL Cetip		(37,211	)		—			(37,211	)
JP Morgan Bank*		10/15/17		600,000		0.58	%	Eurostat Eurozone HICP Ex Tobacco		(3,223	)		—			(3,223	)
Deutsche Bank AG*		10/15/17		400,000		0.58	%	Eurostat Eurozone HICP Ex Tobacco		(2,148	)		(40	)		(2,108	)
Deutsche Bank AG*		10/15/17		200,000		0.57	%	Eurostat Eurozone HICP Ex Tobacco		(1,030	)		—			(1,030	)
Credit Suisse International*		8/15/18		3,500,000		4.70	%	Eurostat Eurozone HICP Ex Tobacco		(2,257	)		(522	)		(1,735	)
Citibank NA*		8/15/18		400,000		6.55	%	Eurostat Eurozone HICP Ex Tobacco		(2,225	)		(459	)		(1,766	)
Deutsche Bank AG*		9/15/18		1,300,000		0.60	%	Eurostat Eurozone HICP Ex Tobacco		(4,907	)		—			(4,907	)


Counterparty	Termination Date		Notional Amount^(a)		Fixed Rate			Reference Equity/Obligation		Implied Credit Spread at January 31, 2016^(b)			Fair Value^(c)			Upfront Premium Paid (Received)			Unrealized Appreciation (Depreciation)
OVER THE COUNTER
Goldman Sachs Group, Inc.##		9/20/20	$	1,100,000		5.00	%		CDX HY25 5Y ICE		5.07	%	$	(2,640	)	$	12,350		$	(14,990	)
Goldman Sachs Group, Inc.##		9/20/20		100,000		5.00	%		CHESAPEAK ENERGY SNR SP GST		7.56	%		(67,901	)		(8,541	)		(59,360	)
Citibank NA##		9/20/20		200,000		1.00	%		FREEPORT-MCMORAN SNR SP CBK		5.05	%		(99,671	)		(30,291	)		(69,380	)
JP Morgan Chase Bank NA##		9/20/20		300,000		1.00	%		FREEPORT-MCMORAN SNR SP JPM		5.00	%		(149,507	)		(44,248	)		(105,259	)
Morgan Stanley Capital Services##		3/20/16		100,000		1.00	%		GAZPROM SNR EM SP GST		8.00	%		(98	)		(875	)		777
JP Morgan Chase Bank NA##		3/20/16		100,000		1.00	%		GAZPROM SNR EM SP JPM		7.10	%		(98	)		(777	)		679
Bank of America NA##		12/20/16		310,000		1.00	%		VOLKSWAGEN INTL SNR SP BOA		1.50	%		(1,040	)		(1,966	)		926
													$	(320,955	)	$	(74,348	)	$	(246,607	)
NET UNREALIZED APPRECIATION (DEPRECIATION) ON CREDIT DEFAULT SWAP CONTRACTS													$	(320,955	)	$	(74,348	)	$	(246,607	)


BKNT – Bank Note		GNMA – Government National Mortgage Association
CMBS – Commercial Mortgage-Backed Securities		LLC – Limited Liability Corporation
FHLMC – Federal Home Loan Mortgage Corporation		LP – Limited Partnership
FNMA – Federal National Mortgage Association		MTN – Medium Term Note
GMTN – Global Medium Term Note		PLC – Public Limited Company
		REIT – Real Estate Investment Trust


Description	Value
TOTAL INVESTMENTS – 100.9% (COST $150,337,458)	$	150,516,899

COLLATERAL FOR SECURITIES ON LOAN – (1.2%)		(1,776,764	)

OTHER ASSETS LESS LIABILITIES – 0.3%		391,112

TOTAL NET ASSETS – 100.0%	$	149,131,247


The following acronyms are used throughout this Fund:		GNMA – Government National Mortgage Association
BKNT – Bank Note		LLC – Limited Liability Corporation
CMBS – Commercial Mortgage-Backed Securities		LP – Limited Partnership
FHLMC – Federal Home Loan Mortgage Corporation		Ltd. – Limited
FNMA – Federal National Mortgage Association		MTN – Medium Term Note
FRN – Floating Rate Note		NA – North America


		Level 1 –		quoted prices in active markets for identical securities
		Level 2 –		other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.)
		Level 3 –		significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments)



D		Floating rate note with current rate and stated maturity date shown.

‡		The rate shown reflects the effective yield at purchase date.

		The following acronyms are used throughout this Fund:

		FFCB - Federal Farm Credit Bank
		FHLB - Federal Home Loan Bank
		FHLMC - Federal Home Loan Mortgage Corporation
		FNMA - Federal National Mortgage Association


BANs - Bond Anticipation Notes		MN - Minnesota

AGM - Insured by Assured Guaranty Municipal Corporation		N.A. - North America

GO - General Obligation		NV - Nevada

HEFA - Health and Educational Facilities Authority		NY - New York

LOC - Letter of Credit		OBG - Obligation

MD - Maryland		SPA - Sales and Purchase Agreement

		VRDNs - Variable Rate Demand Notes


Fund	Value of Securities on Loan		Value of Collateral
Large-Cap Strategy Fund	$	17,384,792	$	17,475,850
Multi-Manager International Fund		26,442,786		27,425,965
Multi-Manager Real Asset Fund		1,910,835		1,925,698
Strategic Allocation Moderate Fund		1,046,101		1,068,442
Broad Market Bond Fund		980,060		1,014,758
Intermediate-Term Bond Fund		2,485,190		2,558,129
Short-Term Bond Fund		1,742,140		1,776,764


By (Signature and Title)*		/s/ Richard J. Berthy
		Richard J. Berthy
		(Principal Executive Officer)


By (Signature and Title)*		/s/ Christopher W. Roleke
		Christopher W. Roleke
		(Principal Financial Officer)