|
Investment Portfolios
|
|
(UNAUDITED) | 07.31.2011
|
|
Common stocks-97.5%
|
Shares
|
Value
|
|
Australia-2.8%
|
||
|
Asciano Ltd.
|
81,803
|
$149,749
|
|
MAp Group
|
166,783
|
598,527
|
|
Newcrest Mining Ltd.
|
24,224
|
1,052,524
|
|
Austria-1.2%
|
||
|
Erste Group Bank AG
|
15,381
|
733,306
|
|
Brazil-0.9%
|
||
|
Diagnosticos da America SA
|
13,327
|
164,563
|
|
Embraer SA, Sponsored ADR
|
7,830
|
231,142
|
|
Hypermarcas SA
|
19,980
|
151,249
|
|
Britain-11.6%
|
||
|
AMEC PLC
|
10,295
|
177,196
|
|
ARM Holdings PLC
|
26,812
|
257,022
|
|
BG Group PLC
|
48,437
|
1,139,329
|
|
BHP Billiton PLC
|
34,491
|
1,295,874
|
|
Burberry Group PLC
|
10,276
|
250,594
|
|
Cairn Energy PLC*
|
42,752
|
257,771
|
|
Compass Group PLC
|
33,210
|
311,456
|
|
Diageo PLC
|
15,830
|
321,854
|
|
Hikma Pharmaceuticals PLC
|
28,738
|
320,829
|
|
HSBC Holdings PLC
|
36,639
|
357,846
|
|
Premier Oil PLC*
|
36,400
|
241,268
|
|
Reckitt Benckiser Group PLC
|
5,742
|
324,463
|
|
Rio Tinto PLC
|
15,466
|
1,079,655
|
|
Rolls-Royce Holdings PLC
|
28,024
|
298,528
|
|
Smith & Nephew PLC
|
18,238
|
191,315
|
|
Vodafone Group PLC
|
187,884
|
529,453
|
|
Canada-7.0%
|
||
|
Barrick Gold Corporation
|
18,175
|
866,473
|
|
Cenovus Energy, Inc.
|
8,585
|
330,030
|
|
Goldcorp, Inc.
|
7,590
|
362,957
|
|
Ivanhoe Mines Ltd./CA*
|
26,697
|
699,104
|
|
Pan American Silver Corporation
|
4,379
|
132,133
|
|
Potash Corporation of Saskatchewan, Inc.
|
18,152
|
1,047,950
|
|
Silver Wheaton Corporation
|
2,604
|
93,782
|
|
Suncor Energy, Inc.
|
23,873
|
914,992
|
|
China-7.5%
|
||
|
Anhui Conch Cement Company Ltd., Class H
|
23,500
|
109,697
|
|
Baidu, Inc./China, Sponsored ADR*
|
7,339
|
1,152,737
|
|
Changsha Zoomlion Heavy Industry Science and Technology Development Co. Ltd., Class H
|
219,400
|
434,019
|
|
China National Building Material Company Ltd., Class H
|
94,000
|
188,127
|
|
Ctrip.com International Ltd., Sponsored ADR*
|
20,568
|
948,185
|
|
Dongfeng Motor Group Company Ltd., Class H
|
154,000
|
305,655
|
|
Focus Media Holding Ltd., Sponsored ADR*
|
3,038
|
99,920
|
|
Golden Eagle Retail Group Ltd.
|
131,000
|
323,729
|
|
Intime Department Store Group Co. Ltd.
|
199,000
|
334,525
|
|
Lianhua Supermarket Holdings Company Ltd., Class H
|
63,400
|
139,385
|
|
Tingyi Cayman Islands Holding Corporation
|
88,000
|
273,244
|
|
Wumart Stores, Inc., Class H
|
106,500
|
267,426
|
|
Zhuzhou CSR Times Electric Company Ltd., Class H
|
71,000
|
210,313
|
|
Czech-0.7%
|
||
|
Komercni Banka AS
|
1,934
|
432,104
|
|
Denmark-2.3%
|
||
|
Carlsberg AS, Class B
|
6,040
|
594,115
|
|
Novo Nordisk AS, Class B
|
7,139
|
874,329
|
|
Finland-0.4%
|
||
|
Fortum Oyj
|
5,033
|
132,856
|
|
Stora Enso Oyj, Class R
|
6,217
|
53,324
|
|
UPM-Kymmene Oyj
|
3,481
|
54,289
|
|
France-6.6%
|
||
|
BNP Paribas
|
5,663
|
366,113
|
|
CFAO
|
5,299
|
226,592
|
|
Cie Generale d'Optique Essilor International SA
|
10,490
|
840,607
|
|
Danone
|
6,958
|
495,082
|
|
Eutelsat Communications
|
4,298
|
185,328
|
|
Iliad SA
|
759
|
97,248
|
|
LVMH Moet Hennessy Louis Vuitton SA
|
4,384
|
800,141
|
|
PPR
|
2,177
|
401,057
|
|
Schneider Electric SA
|
3,752
|
540,682
|
|
Technip SA
|
2,374
|
258,766
|
|
Germany-6.1%
|
||
|
Allianz SE
|
1,292
|
169,051
|
|
Bayerische Motoren Werke AG
|
963
|
96,612
|
|
Bilfinger Berger SE
|
635
|
62,605
|
|
Brenntag AG
|
1,395
|
142,282
|
|
Daimler AG
|
9,236
|
672,319
|
|
Fraport AG
|
18,165
|
1,456,057
|
|
Fresenius SE
|
7,781
|
833,508
|
|
HeidelbergCement AG
|
4,901
|
269,673
|
|
Henkel AG & Co. KGaA
|
356
|
19,389
|
|
Siemens AG
|
1,278
|
164,134
|
|
Greece-0.5%
|
||
|
Coca Cola Hellenic Bottling Company SA*
|
12,010
|
310,706
|
|
Hong Kong-5.9%
|
||
|
Belle International Holdings Ltd.
|
432,000
|
948,553
|
|
China Merchants Holdings International Company Ltd.
|
82,585
|
292,590
|
|
China Resources Enterprise Ltd.
|
152,000
|
660,170
|
|
Geely Automobile Holdings Ltd.
|
720,000
|
286,622
|
|
Hang Lung Properties Ltd.
|
338,000
|
1,253,279
|
|
Li & Fung Ltd.
|
162,000
|
270,305
|
|
The United Laboratories International Holdings Ltd.
|
54,000
|
55,726
|
|
India-5.7%
|
||
|
Axis Bank Ltd., Sponsored GDR
|
33,502
|
1,005,060
|
|
Dr Reddy's Laboratories Ltd., Sponsored ADR
|
10,263
|
365,979
|
|
HDFC Bank Ltd., Sponsored ADR
|
14,219
|
494,252
|
|
Larsen & Toubro Ltd., Sponsored GDR
|
31,611
|
1,239,151
|
|
Mahindra & Mahindra Ltd., Sponsored GDR
|
23,976
|
387,402
|
|
State Bank of India, Sponsored GDR
|
1,492
|
165,314
|
|
Ireland-1.6%
|
||
|
CRH PLC
|
21,934
|
429,008
|
|
Shire PLC
|
10,058
|
348,327
|
|
WPP PLC
|
22,441
|
253,329
|
|
Israel-0.3%
|
||
|
Teva Pharmaceutical Industries Ltd., Sponsored ADR
|
4,581
|
213,658
|
|
Italy-1.7%
|
||
|
Buzzi Unicem SpA*
|
11,527
|
134,784
|
|
Fiat Industrial SpA*
|
33,732
|
445,426
|
|
Saipem SpA
|
10,117
|
525,653
|
|
Japan-9.5%
|
||
|
Aisin Seiki Company Ltd.
|
3,301
|
127,854
|
|
Asahi Glass Company Ltd.
|
17,000
|
196,810
|
|
Canon, Inc.
|
4,973
|
241,840
|
|
Daikin Industries Ltd.
|
990
|
35,223
|
|
Denso Corporation
|
3,211
|
114,488
|
|
Fanuc Ltd.
|
3,200
|
606,207
|
|
Honda Motor Company Ltd.
|
10,390
|
414,908
|
|
Isuzu Motors Ltd.
|
64,000
|
319,231
|
|
ITOCHU Corporation
|
22,100
|
256,031
|
|
KDDI Corporation
|
29
|
215,772
|
|
Komatsu Ltd.
|
19,600
|
611,531
|
|
Mitsubishi Corporation
|
9,900
|
265,731
|
|
Mitsubishi Electric Corporation
|
19,000
|
224,353
|
|
Mitsui & Company Ltd.
|
3,700
|
69,816
|
|
Nissan Motor Company Ltd.
|
26,800
|
286,773
|
|
Nitto Denko Corporation
|
1,100
|
53,051
|
|
SMC Corporation
|
1,400
|
257,668
|
|
Softbank Corporation
|
6,700
|
261,472
|
|
Suzuki Motor Corporation
|
15,600
|
362,316
|
|
Toyota Motor Corporation
|
12,041
|
492,810
|
|
Unicharm Corporation
|
13,916
|
629,053
|
|
Luxembourg-0.8%
|
||
|
L'Occitane International SA*
|
107,014
|
294,524
|
|
SES SA FDR
|
6,723
|
181,729
|
|
Macau-1.3%
|
||
|
Sands China Ltd.*
|
150,400
|
454,420
|
|
Wynn Macau Ltd.
|
102,400
|
359,154
|
|
Mexico-0.3%
|
||
|
Grupo Financiero Banorte, SAB de CV, Class O
|
41,869
|
183,353
|
|
Netherlands-3.0%
|
||
|
ASML Holding NV
|
2,687
|
95,533
|
|
Heineken NV
|
4,907
|
290,001
|
|
ING Groep NV*
|
48,567
|
519,576
|
|
Royal Dutch Shell PLC, Class A
|
27,540
|
1,003,482
|
|
Norway-0.2%
|
||
|
Marine Harvest ASA
|
249,947
|
145,485
|
|
Portugal-0.2%
|
||
|
Jeronimo Martins SGPS SA
|
6,403
|
124,990
|
|
Russian Federation-7.0%
|
||
|
Magnit OJSC, Sponsored GDR
|
6,682
|
204,635
|
|
NovaTek OAO, Sponsored GDR
|
2,194
|
338,370
|
|
O'Key Group S.A., Sponsored GDR*
|
13,270
|
120,123
|
|
Pharmstandard OJSC, Sponsored GDR*
|
5,726
|
132,843
|
|
Rosneft Oil Company, Sponsored GDR
|
90,171
|
761,528
|
|
Sberbank
|
482,980
|
1,768,673
|
|
VTB Bank OJSC, Sponsored GDR
|
194,409
|
1,157,282
|
|
South Africa-0.6%
|
||
|
Shoprite Holdings Ltd.
|
23,266
|
362,097
|
|
South Korea-2.2%
|
||
|
Celltrion, Inc.
|
18,782
|
855,104
|
|
Hyundai Motor Company
|
2,370
|
527,275
|
|
Sweden-1.5%
|
||
|
Atlas Copco AB, Class A
|
11,786
|
277,185
|
|
Elekta AB, Class B
|
8,782
|
403,709
|
|
Volvo AB, Class B
|
18,339
|
294,946
|
|
Switzerland-5.1%
|
||
|
Dufry Group*
|
3,755
|
443,940
|
|
Flughafen Zuerich AG
|
327
|
150,610
|
|
Nobel Biocare Holding AG*
|
12,621
|
241,505
|
|
Swiss Re Ltd.*
|
3,711
|
208,925
|
|
Syngenta AG*
|
2,006
|
639,758
|
|
The Swatch Group AG
|
941
|
508,740
|
|
UBS AG*
|
11,331
|
187,137
|
|
Xstrata PLC
|
42,029
|
883,096
|
|
Taiwan-2.2%
|
||
|
HTC Corporation
|
47,040
|
1,399,675
|
|
United Arab Emirates-0.8%
|
||
|
Dragon Oil PLC
|
56,975
|
492,639
|
|
Total common stocks (cost $49,175,227)
|
62,048,433
|
|
|
Preferred stocks-1.6%
|
||
|
Germany-1.6%
|
||
|
Henkel AG & Co. KGaA
|
2,562
|
173,097
|
|
Volkswagen AG
|
4,182
|
835,643
|
|
Total preferred stocks (cost $641,199)
|
1,008,740
|
|
|
Investment companies-0.7%
|
||
|
United States-0.7%
|
||
|
Market Vectors - Gold Miners ETF
|
5,485
|
312,316
|
|
SPDR Gold Trust ETF*
|
1,030
|
163,162
|
|
Total investment companies (cost $433,047)
|
475,478
|
|
|
Total investment portfolio (cost $50,249,473) 99.8%
|
63,532,651
|
|
|
Other assets in excess of liabilities 0.2%
|
108,273
|
|
|
Total net assets 100.0%
|
$63,640,924
|
|
|
*
|
Non-income producing security
|
|
ADR—American depository receipt
|
|
ETF—Exchange-traded fund
FDR—Fiduciary depository receipt
|
|
GDR—Global depository receipt
|
|
Sector allocation
|
||
|
Sector
|
Percent of net assets
|
|
|
Consumer, cyclical
|
18.2%
|
|
|
Consumer, non-cyclical
|
17.0%
|
|
|
Financial
|
14.3%
|
|
|
Industrial
|
13.9%
|
|
|
Basic materials
|
13.4%
|
|
|
Energy
|
10.1%
|
|
|
Communications
|
8.3%
|
|
|
Diversified
|
2.8%
|
|
|
Technology
|
0.9%
|
|
|
Funds
|
0.7%
|
|
|
Utilities
|
0.2%
|
|
|
Forward foreign currency contracts outstanding
|
|||||||
|
Contract to deliver
|
Counterparty
|
In exchange for
|
Delivery
date |
Unrealized appreciation (depreciation)
|
|||
|
EUR
|
448,528
|
Credit Suisse First Boston
|
USD
|
644,764
|
09/21/11
|
(1,036)
|
|
|
EUR
|
659,179
|
Credit Suisse First Boston
|
USD
|
936,588
|
09/21/11
|
9,466
|
|
|
JPY
|
54,645,113
|
JP Morgan Chase
|
USD
|
681,191
|
09/21/11
|
29,078
|
|
|
USD
|
1,379,411
|
Credit Suisse First Boston
|
EUR
|
961,246
|
09/21/11
|
(168)
|
|
|
USD
|
927,704
|
Credit Suisse First Boston
|
EUR
|
663,378
|
09/21/11
|
(24,377)
|
|
|
USD
|
873,796
|
Deutsche Bank AG
|
EUR
|
608,779
|
09/21/11
|
76
|
|
|
USD
|
952,728
|
Deutsche Bank AG
|
EUR
|
680,444
|
09/21/11
|
(23,844)
|
|
|
Net unrealized depreciation
|
$(10,805)
|
||||||
|
EUR—Euro
|
|
JPY—Japanese Yen
|
|
USD—United States Dollar
|
|
Industry allocation
|
||
|
Industry
|
Value
|
Percent of
net assets |
|
Banks
|
$6,850,440
|
10.8%
|
|
Mining
|
6,465,598
|
10.2%
|
|
Auto manufacturers
|
5,727,938
|
9.0%
|
|
Oil & gas
|
5,479,409
|
8.6%
|
|
Engineering & construction
|
3,506,950
|
5.5%
|
|
Retail
|
3,454,562
|
5.4%
|
|
Telecommunications
|
2,773,429
|
4.4%
|
|
Healthcare products
|
2,510,644
|
3.9%
|
|
Pharmaceuticals
|
2,462,940
|
3.9%
|
|
Internet
|
2,198,170
|
3.4%
|
|
Chemicals
|
1,883,041
|
3.0%
|
|
Food
|
1,865,041
|
2.9%
|
|
Holding companies - diversified
|
1,752,901
|
2.8%
|
|
Beverages
|
1,516,676
|
2.4%
|
|
Building materials
|
1,363,322
|
2.1%
|
|
Machinery - construction & mining
|
1,322,735
|
2.1%
|
|
Real estate
|
1,253,279
|
2.0%
|
|
Electrical components & equipment
|
975,348
|
1.5%
|
|
Oil & gas services
|
961,615
|
1.5%
|
|
Cosmetics/personal care
|
923,577
|
1.4%
|
|
Insurance
|
897,552
|
1.4%
|
|
Distribution/wholesale
|
861,883
|
1.3%
|
|
Biotechnology
|
855,104
|
1.3%
|
|
Lodging
|
813,574
|
1.3%
|
|
Machinery-diversified
|
606,207
|
0.9%
|
|
Aerospace/defense
|
529,670
|
0.8%
|
|
Household products/wares
|
516,949
|
0.8%
|
|
Advertising
|
353,249
|
0.6%
|
|
Semiconductors
|
352,555
|
0.5%
|
|
Equity fund
|
312,316
|
0.5%
|
|
Food service
|
311,456
|
0.5%
|
|
Hand/machine tools
|
257,668
|
0.4%
|
|
Apparel
|
250,594
|
0.4%
|
|
Auto parts & equipment
|
242,342
|
0.4%
|
|
Office/business equipment
|
241,840
|
0.4% |
|
Healthcare services
|
164,563
|
0.3%
|
|
Miscellaneous manufacturer
|
164,134
|
0.3%
|
|
Commodity fund
|
163,162
|
0.3%
|
|
Transportation
|
149,749
|
0.2%
|
|
Electric
|
132,856
|
0.2%
|
|
Forest products & paper
|
107,613
|
0.2%
|
|
Total investment portfolio
|
$63,532,651
|
99.8%
|
|
Investment Portfolios
|
|
(UNAUDITED) | 07.31.2011
|
|
Corporate bonds—48.4%
|
Principal
amount (in thousands)
|
Value
|
||
|
Domestic—41.3%
|
|
|
|
|
|
Aerospace/defense—1.1%
|
||||
|
United Technologies Corporation, 5.38%, 12/15/17
|
$1,000
|
$1,178,656
|
||
|
Auto parts & equipment—0.2%
|
||||
|
Johnson Controls, Inc., FRN, 0.67%, 02/04/14
|
250
|
250,684
|
||
|
Banks—1.7%
|
||||
|
Northern Trust Corporation, 3.45%, 11/04/20
|
1,000
|
995,805
|
||
|
US Bancorp, 4.13%, 05/24/21
|
750
|
770,821
|
||
|
Beverages—2.9%
|
||||
|
Anheuser-Busch InBev Worldwide, Inc., FRN, 0.98%, 03/26/13
|
2,000
|
2,016,492
|
||
|
Dr Pepper Snapple Group, Inc., 2.90%, 01/15/16
|
1,000
|
1,034,329
|
||
|
Biotechnology—2.2%
|
||||
|
Celgene Corporation, 2.45%, 10/15/15
|
1,000
|
1,012,454
|
||
|
Gilead Sciences, Inc., 4.50%, 04/01/21
|
1,250
|
1,304,406
|
||
|
Chemicals—0.5%
|
||||
|
Air Products & Chemicals, Inc., 2.00%, 08/02/16
|
500
|
500,758
|
||
|
Computers—2.4%
|
||||
|
Hewlett-Packard Company, FRN, 0.37%, 09/13/12
|
1,500
|
1,501,317
|
||
|
International Business Machines Corp., 1.95%, 07/22/16
|
1,000
|
1,002,452
|
||
|
Diversified financial services—2.1%
|
||||
|
BlackRock, Inc., Series 2, 5.00%, 12/10/19
|
1,000
|
1,084,926
|
||
|
CME Group Index Services LLC, 144A, 4.40%, 03/15/18
|
1,000
|
1,072,189
|
||
|
Electric—5.0%
|
||||
|
Exelon Generation Company LLC, 5.20%, 10/01/19
|
495
|
529,475
|
||
|
Georgia Power Company, FRN, 0.57%, 03/15/13
|
2,000
|
2,004,352
|
||
|
NextEra Energy Capital Holdings, Inc., 2.55%, 11/15/13
|
1,000
|
1,023,607
|
||
|
PSEG Power LLC, 2.50%, 04/15/13
|
1,000
|
1,019,183
|
||
|
Virginia Electric and Power Company, Series A, 5.40%, 01/15/16
|
500
|
575,761
|
||
|
Food—0.5%
|
||||
|
Hormel Foods Corporation, 4.13%, 04/15/21
|
500
|
527,474
|
||
|
Forest products & paper—1.0%
|
||||
|
Plum Creek Timberlands LP, 4.70%, 03/15/21
|
1,000
|
1,019,105
|
||
|
Gas—0.7%
|
||||
|
Sempra Energy, 9.80%, 02/15/19
|
550
|
753,426
|
||
|
Healthcare products—2.8%
|
||||
|
CR Bard, Inc., 4.40%, 01/15/21
|
750
|
797,504
|
||
|
Baxter International, Inc., 5.38%, 06/01/18
|
1,000
|
1,150,402
|
||
|
Becton, Dickinson and Company, 3.25%, 11/12/20
|
1,000
|
979,300
|
||
|
Insurance—3.2%
|
||||
|
AON Corporation, 3.50%, 09/30/15
|
1,000
|
1,044,556
|
||
|
Berkshire Hathaway, Inc., FRN, 0.70%, 02/11/13
|
2,000
|
2,013,060
|
||
|
Marsh & McLennan Cos., Inc., 4.80%, 07/15/21
|
250
|
252,497
|
||
|
Internet—2.0%
|
||||
|
Google, Inc., 3.63%, 05/19/21
|
1,000
|
1,030,952
|
||
|
Symantec Corporation, 2.75%, 09/15/15
|
1,000
|
1,010,176
|
||
|
Mining—1.1%
|
||||
|
Newmont Mining Corporation, 5.13%, 10/01/19
|
1,000
|
1,100,799
|
||
|
Pharmaceuticals—3.9%
|
||||
|
Allergan, Inc./United States, 3.38%, 09/15/20
|
750
|
743,700
|
||
|
Express Scripts, Inc., 6.25%, 06/15/14
|
1,000
|
1,123,762
|
||
|
McKesson Corporation, 5.70%, 03/01/17
|
1,000
|
1,166,297
|
||
|
Merck & Company, Inc., 2.25%, 01/15/16
|
1,000
|
1,023,991
|
||
|
Retail—1.2%
|
||||
|
McDonald's Corporation, 5.80%, 10/15/17
|
1,000
|
1,201,892
|
||
|
Semiconductors—2.0%
|
||||
|
Broadcom Corporation, 144A, 1.50%, 11/01/13
|
1,000
|
1,004,265
|
||
|
Texas Instruments, Inc., 2.38%, 05/16/16
|
1,000
|
1,024,486
|
||
|
Software—2.8%
|
||||
|
Fiserv, Inc., 3.13%, 10/01/15
|
1,000
|
1,031,415
|
||
|
Microsoft Corporation, 2.95%, 06/01/14
|
1,000
|
1,062,305
|
||
|
Oracle Corporation, 144A, 3.88%, 07/15/20
|
750
|
775,933
|
||
|
Telecommunications—1.0%
|
||||
|
AT&T Corporation, 7.30%, 11/15/11
|
751
|
765,300
|
||
|
Verizon Communications, Inc., 6.35%, 04/01/19
|
250
|
300,988
|
||
|
Transportation—1.0%
|
||||
|
Norfolk Southern Corporation, 5.90%, 06/15/19
|
600
|
709,883
|
||
|
Union Pacific Corporation, 5.70%, 08/15/18
|
250
|
290,679
|
||
|
Total domestic corporate bonds (cost $41,837,235)
|
42,781,814
|
|||
|
Foreign—7.1%
|
|
|||
|
Banks—3.0%
|
||||
|
Credit Suisse, FRN, 1.21%, 01/14/14
|
500
|
500,287
|
||
|
Royal Bank of Canada, 2.88%, 04/19/16
|
1,500
|
1,560,214
|
||
|
The Toronto-Dominion Bank, 2.50%, 07/14/16
|
1,000
|
1,016,431
|
||
|
Chemicals—0.5%
|
||||
|
Potash Corp of Saskatchewan, Inc., 3.25%, 12/01/17
|
500
|
517,714
|
||
|
Insurance—1.0%
|
||||
|
Willis Group Holdings PLC, 4.13%, 03/15/16
|
1,000
|
1,033,385
|
||
|
Mining—0.7%
|
||||
|
Gold Fields Orogen Holding BVI Ltd., 144A, 4.88%, 10/07/20
|
750
|
727,500
|
||
|
Oil & gas—1.9%
|
||||
|
Shell International Finance BV, FRN, 0.60%, 06/22/12
|
2,000
|
2,007,362
|
||
|
Total foreign corporate bonds (cost $7,242,434)
|
7,362,893
|
|||
|
U.S. Treasuries—19.1%
|
||||
|
U.S. Treasury Note, 0.75%, 08/15/13
|
2,250
|
2,266,699
|
||
|
U.S. Treasury Note, 1.25%, 08/31/15
|
4,250
|
4,297,812
|
||
|
U.S. Treasury Note, 2.13%, 05/31/15
|
4,250
|
4,452,215
|
||
|
U.S. Treasury Note, 2.00%, 04/30/16
|
4,250
|
4,395,435
|
||
|
U.S. Treasury Note, 2.38%, 07/31/17
|
2,250
|
2,331,563
|
||
|
U.S. Treasury Note, 4.75%, 08/15/17
|
1,750
|
2,054,747
|
||
|
Total U.S. Treasuries (cost $19,234,459)
|
19,798,471
|
|||
|
Mortgage-backed obligations—15.6%
|
|
|
||
|
Domestic—6.8%
|
|
|
||
|
Commercial mortgage-backed obligations—3.7%
|
||||
|
Credit Suisse First Boston Mortgage Securities Corporation, Series 2005-C5, Class A3, FRN, 5.10%, 08/15/38
|
469
|
482,235
|
||
|
JP Morgan Chase Commercial Mortgage Securities Corporation, Series 2002-C3, Class A2, 4.99%, 07/12/35
|
479
|
496,205
|
||
|
JP Morgan Chase Commercial Mortgage Securities Corporation, Series 2003-PM1A, Class A4, FRN, 5.33%, 08/12/40
|
230
|
243,569
|
||
|
LB-UBS Commercial Mortgage Trust, Series 2001-C7, Class A5, 6.13%, 12/15/30
|
25
|
24,875
|
||
|
LB-UBS Commercial Mortgage Trust, Series 2003-C7, Class A2, FRN, 4.06%, 09/15/27
|
19
|
18,626
|
||
|
Merrill Lynch Mortgage Investors, Inc., Series 1998-C1, Class A3, FRN, 6.72%, 11/15/26
|
223
|
243,914
|
||
|
Morgan Stanley Capital I, 144A, Series 2011-C1, Class A2, 3.88%, 09/15/47
|
1,000
|
1,041,757
|
||
|
Morgan Stanley Capital I, Series 2003-T11, Class A4, 5.15%, 06/13/41
|
385
|
406,988
|
||
|
Wachovia Bank Commercial Mortgage Trust, Series 2002-C2, Class A3, 4.44%, 11/15/34
|
339
|
342,173
|
||
|
Wachovia Bank Commercial Mortgage Trust, Series 2003-C6, Class A3, FRN, 4.96%, 08/15/35
|
516
|
515,688
|
||
|
Federal Agency Mortgage-backed Obligations—3.1%
|
||||
|
Fannie Mae, REMICs, Series 2006-B1, Class AB, 6.00%, 06/25/16
|
164
|
165,484
|
||
|
Fannie Mae, REMICs, Series 2006-63, Class AB, 6.50%, 10/25/33
|
48
|
48,179
|
||
|
Fannie Mae, REMICs, Series 2007-11, Class AB, 5.69%, 01/25/32
|
330
|
346,918
|
||
|
Fannie Mae, REMICs, Series 2007-118, Class AB, 5.00%, 04/25/35
|
506
|
532,719
|
||
|
Freddie Mac, REMICs, Series 2628, Class AB, 4.50%, 06/15/18
|
249
|
266,828
|
||
|
Freddie Mac, REMICs, Series 2885, Class LC, 4.50%, 04/15/34
|
442
|
473,566
|
||
|
Freddie Mac, REMICs, Series 3114, Class GC, 5.00%, 01/15/34
|
210
|
219,025
|
||
|
Freddie Mac, REMICs, Series 3456, Class CG, 5.00%, 01/15/35
|
377
|
395,812
|
||
|
Freddie Mac, REMICs, Series R005, Class AB, 5.50%, 12/15/18
|
81
|
83,787
|
||
|
Freddie Mac, REMICs, Series R006, Class AK, 5.75%, 12/15/18
|
191
|
197,763
|
||
|
Ginnie Mae, REMICs, Series 2004-86, Class PK, 4.00%, 09/20/34
|
492
|
518,038
|
||
|
Total domestic mortgage-backed obligations (cost $6,989,837)
|
7,064,149
|
|||
|
Foreign—8.8%
|
|
|||
|
Covered bonds—8.8%
|
||||
|
Bank of Montreal, 144A, 2.63%, 01/25/16
|
1,000
|
1,031,057
|
||
|
Bank of Nova Scotia, 144A, 2.15%, 08/03/16
|
1,000
|
1,007,199
|
||
|
Credit Suisse AG/Guernsey, 144A, 2.60%, 05/27/16
|
1,000
|
1,010,262
|
||
|
DnB NOR Boligkreditt, 144A, 2.10%, 10/14/15
|
1,000
|
1,004,668
|
||
|
Nordea Eiendomskreditt AS, 144A, 1.88%, 04/07/14
|
1,000
|
1,017,749
|
||
|
Mortgage-backed obligations—15.6%
|
|
|
||
|
Covered bonds—8.8% (cont'd)
|
||||
|
Sparebank 1 Boligkreditt AS, 144A, 2.63%, 05/27/16
|
1,000
|
1,015,270
|
||
|
Stadshypotek AB, 144A, 1.45%, 09/30/13
|
1,000
|
1,007,783
|
||
|
Swedbank Hypotek AB, 144A, 2.95%, 03/28/16
|
1,000
|
1,031,583
|
||
|
The Toronto-Dominion Bank, 144A, 2.20%, 07/29/15
|
1,000
|
1,023,772
|
||
|
Total foreign mortgage-backed obligations (cost $9,001,438)
|
9,149,343
|
|||
|
U.S. Government agency securities—6.5%
|
||||
|
Fixed rate U.S. Government agency securities—3.5%
|
||||
|
Private Export Funding Corporation, 2.25%, 12/15/17
|
1,000
|
999,997
|
||
|
Tennessee Valley Authority, 5.50%, 07/18/17
|
2,250
|
2,668,293
|
||
|
Government-backed corporate bonds—3.0%
|
||||
|
John Deere Capital Corporation, FDIC, 2.88%, 06/19/12
|
3,000
|
3,068,352
|
||
|
Total U.S. Government agency securities (cost $6,668,629)
|
6,736,642
|
|||
|
Foreign government securities—4.1%
|
||||
|
Egypt Government AID Bonds, 4.45%, 09/15/15
|
2,000
|
2,247,440
|
||
|
Landwirtschaftliche Rentenbank, 144A, FRN, 0.38%, 01/28/14
|
500
|
499,450
|
||
|
Province of Ontario, Canada, 3.00%, 07/16/18
|
1,500
|
1,525,378
|
||
|
Total foreign government securities (cost $4,245,024)
|
4,272,268
|
|||
|
Supranational banks—4.0%
|
||||
|
European Investment Bank, 2.25%, 03/15/16
|
1,000
|
1,031,606
|
||
|
Inter-American Development Bank, 2.25%, 07/15/15
|
1,000
|
1,037,262
|
||
|
International Bank for Reconstruction & Development, 2.38%, 05/26/15
|
1,000
|
1,046,428
|
||
|
Nordic Investment Bank, 2.50%, 07/15/15
|
1,000
|
1,047,997
|
||
|
Total supranational banks (cost $4,007,795)
|
4,163,293
|
|||
|
Total investment portfolio (cost $99,226,851) 97.7%
|
101,328,873
|
|||
|
Other assets in excess of liabilities 2.3%
|
2,386,425
|
|||
|
Total net assets 100.0%
|
$103,715,298
|
|||
|
144A—144A securities are issued pursuant to Rule 144A of the Securities Act of 1933. Most of these are deemed to be liquid for purposes of compliance limitations on holdings of illiquid securities and all may be resold as transactions exempt from registration to qualified institutional buyers. At July 31, 2011, these securities aggregated $14,270,437 or 13.8% of the net assets of the Fund.
|
|
FDIC—Federal Deposit Insurance Corporation
|
|
FRN—Floating rate notes reset their interest rates on a semiannual or quarterly basis
|
|
REMIC—Real estate mortgage investment conduit
|
|
Standard & Poor's bond ratings
|
||
|
Bond rating
|
Percent of net assets
|
|
|
AAA
|
42.0%
|
|
|
AA
|
13.7%
|
|
|
A
|
20.7%
|
|
|
BBB
|
15.4%
|
|
|
Not rated
|
5.9%
|
|
|
Investment Portfolios
|
|
(UNAUDITED) | 07.31.2011
|
|
Common stocks—92.1%
|
Shares
|
Value
|
|
Aerospace/defense—3.3%
|
||
|
The Boeing Company
|
5,345
|
$376,662
|
|
United Technologies Corporation
|
5,610
|
464,732
|
|
Banks—4.8%
|
||
|
JPMorgan Chase & Company
|
19,540
|
790,393
|
|
Wells Fargo & Company
|
15,270
|
426,644
|
|
Beverages—4.0%
|
||
|
PepsiCo, Inc.
|
7,200
|
461,088
|
|
The Coca-Cola Company
|
8,045
|
547,141
|
|
Computers—8.6%
|
||
|
Apple, Inc.*
|
3,106
|
1,212,831
|
|
EMC Corporation*
|
36,590
|
954,267
|
|
Diversified financial services—5.1%
|
||
|
CME Group, Inc.
|
2,275
|
657,907
|
|
Invesco Ltd.
|
28,650
|
635,457
|
|
Electric—1.8%
|
||
|
Dominion Resources, Inc.
|
9,405
|
455,672
|
|
Healthcare products—5.9%
|
||
|
Johnson & Johnson
|
7,540
|
488,517
|
|
St. Jude Medical, Inc.
|
10,990
|
511,035
|
|
Zimmer Holdings, Inc.*
|
8,240
|
494,565
|
|
Healthcare services—3.3%
|
||
|
UnitedHealth Group, Inc.
|
16,915
|
839,492
|
|
Insurance—2.0%
|
||
|
MetLife, Inc.
|
12,190
|
502,350
|
|
Internet—3.9%
|
||
|
Google, Inc., Class A*
|
1,619
|
977,374
|
|
Media—3.1%
|
||
|
The Walt Disney Company
|
20,270
|
782,827
|
|
Miscellaneous manufacturer—2.3%
|
||
|
Tyco International Ltd.
|
13,186
|
584,008
|
|
Oil & gas—11.4%
|
||
|
Apache Corporation
|
4,445
|
549,935
|
|
Chevron Corporation
|
5,860
|
609,557
|
|
ConocoPhillips
|
7,885
|
567,641
|
|
Exxon Mobil Corporation
|
11,550
|
921,575
|
|
Valero Energy Corporation
|
9,995
|
251,074
|
|
Oil & gas services—3.0%
|
||
|
Schlumberger Ltd.
|
8,515
|
769,501
|
|
Pharmaceuticals—3.3%
|
||
|
Pfizer, Inc.
|
43,410
|
835,208
|
|
Retail—9.5%
|
||
|
Bed Bath & Beyond, Inc.*
|
11,245
|
657,720
|
|
Lowe’s Companies, Inc.
|
36,510
|
787,886
|
|
Staples, Inc.
|
31,480
|
505,569
|
|
Wal-Mart Stores, Inc.
|
8,635
|
455,151
|
|
Software—9.9%
|
||
|
Activision Blizzard, Inc.
|
52,075
|
616,568
|
|
Adobe Systems, Inc.*
|
20,810
|
576,853
|
|
Microsoft Corporation
|
18,545
|
508,133
|
|
Oracle Corporation
|
25,915
|
792,481
|
|
Telecommunications—4.1%
|
||
|
Cisco Systems, Inc.
|
12,020
|
191,959
|
|
QUALCOMM, Inc.
|
7,300
|
399,894
|
|
Sprint Nextel Corporation*
|
105,645
|
446,878
|
|
Transportation—2.8%
|
||
|
Union Pacific Corporation
|
6,925
|
709,674
|
|
Common stocks—92.1%
|
|
|
|
Total common stocks (cost $20,436,958)
|
23,316,219
|
|
|
Investment companies—3.1%
|
|
|
|
Materials Select Sector SPDR ETF
|
20,935
|
795,321
|
|
Total investment companies (cost $732,991)
|
795,321
|
|
|
Total investment portfolio (cost $21,169,949) 95.2%
|
24,111,540
|
|
|
Other assets in excess of liabilities 4.8%
|
1,217,831
|
|
|
Net assets 100.0%
|
$25,329,371
|
|
|
*
|
Non-income producing security
|
|
ETF—Exchange-traded fund
|
|
SPDR—Standard & Poor's depositary receipt
|
|
Sector allocation
|
||
|
Sector
|
Percent of net assets
|
|
|
Technology
|
18.4%
|
|
|
Consumer, non-cyclical
|
16.5%
|
|
|
Energy
|
14.4%
|
|
|
Financial
|
11.9%
|
|
|
Communications
|
11.2%
|
|
|
Consumer, cyclical
|
9.5%
|
|
|
Industrial
|
8.4%
|
|
|
Funds
|
3.1%
|
|
|
Utilities
|
1.8%
|
|
|
Investment Portfolios
|
|
(UNAUDITED) | 07.31.2011
|
|
Common stocks—95.1%
|
Shares
|
Value
|
|
Aerospace/defense—2.5%
|
||
|
BE Aerospace, Inc.*
|
97,277
|
$3,871,625
|
|
Triumph Group, Inc.
|
112,741
|
6,069,975
|
|
Apparel—2.8%
|
||
|
Coach, Inc.
|
75,230
|
4,856,849
|
|
Deckers Outdoor Corporation*
|
60,055
|
5,960,459
|
|
Auto manufacturers—1.8%
|
||
|
Navistar International Corporation*
|
140,130
|
7,190,070
|
|
Auto parts & equipment—0.9%
|
||
|
WABCO Holdings, Inc.*
|
54,310
|
3,424,246
|
|
Biotechnology—1.3%
|
||
|
Illumina, Inc.*
|
48,965
|
3,057,864
|
|
Regeneron Pharmaceuticals, Inc.*
|
36,425
|
1,932,711
|
|
Chemicals—2.6%
|
||
|
CF Industries Holdings, Inc.
|
29,490
|
4,580,387
|
|
Huntsman Corporation
|
301,991
|
5,768,028
|
|
Coal—2.4%
|
||
|
Walter Energy, Inc.
|
76,120
|
9,330,028
|
|
Commercial services—1.6%
|
||
|
Sotheby's
|
150,730
|
6,383,416
|
|
Computers—1.2%
|
||
|
Fusion-io, Inc.*
|
60,831
|
1,801,206
|
|
Riverbed Technology, Inc.*
|
102,775
|
2,942,448
|
|
Cosmetics/personal care—0.8%
|
||
|
Avon Products, Inc.
|
123,645
|
3,243,208
|
|
Distribution/wholesale—1.2%
|
||
|
WESCO International, Inc.*
|
92,684
|
4,698,152
|
|
Diversified financial services—3.0%
|
||
|
Ameriprise Financial, Inc.
|
69,705
|
3,771,040
|
|
Legg Mason, Inc.
|
100,755
|
2,964,212
|
|
TD Ameritrade Holding Corporation
|
265,271
|
4,870,376
|
|
Electrical components & equipment—1.2%
|
||
|
GrafTech International Ltd.*
|
238,955
|
4,602,273
|
|
Electronics—1.8%
|
||
|
Gentex Corporation
|
254,571
|
7,214,542
|
|
Engineering & construction—1.9%
|
||
|
Chicago Bridge & Iron Company NV
|
184,286
|
7,601,798
|
|
Entertainment—1.5%
|
||
|
Bally Technologies, Inc.*
|
148,314
|
5,848,021
|
|
Environmental control—1.3%
|
||
|
Waste Connections, Inc.
|
157,530
|
5,078,767
|
|
Healthcare products—3.1%
|
||
|
Hill-Rom Holdings, Inc.
|
94,705
|
3,531,549
|
|
Intuitive Surgical, Inc.*
|
9,385
|
3,759,162
|
|
Patterson Companies, Inc.
|
162,315
|
5,005,795
|
|
Home furnishings—0.9%
|
||
|
Harman International Industries, Inc.
|
84,465
|
3,513,744
|
|
Household products/wares—1.2%
|
||
|
Church & Dwight Company, Inc.
|
121,730
|
4,910,588
|
|
Internet—5.1%
|
||
|
Akamai Technologies, Inc.*
|
132,310
|
3,204,548
|
|
Expedia, Inc.
|
143,230
|
4,538,959
|
|
F5 Networks, Inc.*
|
33,925
|
3,171,309
|
|
Pandora Media, Inc.*
|
34,986
|
527,939
|
|
priceline.com, Inc.*
|
8,655
|
4,653,361
|
|
Common stocks—95.1%
|
|
|
|
Internet—5.1% (cont'd)
|
||
|
TIBCO Software, Inc.*
|
143,645
|
3,740,516
|
|
Leisure time—0.7%
|
||
|
Royal Caribbean Cruises Ltd.*
|
83,955
|
2,570,702
|
|
Lodging—2.6%
|
||
|
Starwood Hotels & Resorts Worldwide, Inc.
|
90,090
|
4,951,346
|
|
Wynn Resorts Ltd.
|
34,623
|
5,320,863
|
|
Machinery-diversified—2.0%
|
||
|
AGCO Corporation*
|
70,255
|
3,331,492
|
|
Flowserve Corporation
|
44,970
|
4,469,119
|
|
Mining—3.9%
|
||
|
Freeport-McMoRan Copper & Gold, Inc.
|
105,060
|
5,563,978
|
|
Titanium Metals Corporation
|
545,885
|
9,711,294
|
|
Miscellaneous manufacturer—1.4%
|
||
|
SPX Corporation
|
74,250
|
5,586,570
|
|
Oil & gas—5.3%
|
||
|
Continental Resources, Inc.*
|
112,430
|
7,711,574
|
|
Denbury Resources, Inc.*
|
157,550
|
3,043,866
|
|
Pioneer Natural Resources Company
|
63,660
|
5,919,743
|
|
Whiting Petroleum Corporation*
|
69,665
|
4,082,369
|
|
Oil & gas services—3.4%
|
||
|
Dresser-Rand Group, Inc.*
|
105,580
|
5,640,084
|
|
Dril-Quip, Inc.*
|
106,829
|
7,532,513
|
|
Pharmaceuticals—8.9%
|
||
|
AmerisourceBergen Corporation
|
187,190
|
7,171,249
|
|
Catalyst Health Solutions, Inc.*
|
29,495
|
1,932,807
|
|
Herbalife Ltd.
|
176,300
|
9,823,436
|
|
Mylan, Inc.*
|
339,545
|
7,734,835
|
|
SXC Health Solutions Corporation*
|
129,065
|
8,147,873
|
|
Real estate—1.5%
|
||
|
Jones Lang LaSalle, Inc.
|
69,302
|
5,898,986
|
|
Retail—6.0%
|
||
|
Bed Bath & Beyond, Inc.*
|
65,720
|
3,843,963
|
|
Chipotle Mexican Grill, Inc.*
|
13,445
|
4,363,978
|
|
Dollar Tree, Inc.*
|
84,395
|
5,589,481
|
|
GNC Holdings, Inc., Class A*
|
237,195
|
5,977,314
|
|
Sally Beauty Holdings, Inc.*
|
219,575
|
3,776,690
|
|
Semiconductors—4.1%
|
||
|
ARM Holdings PLC, Sponsored ADR
|
169,110
|
4,868,677
|
|
Lam Research Corporation*
|
46,375
|
1,895,810
|
|
Linear Technology Corporation
|
81,240
|
2,380,332
|
|
Rovi Corporation*
|
134,025
|
7,099,304
|
|
Software—10.8%
|
||
|
ANSYS, Inc.*
|
144,175
|
7,295,255
|
|
Autodesk, Inc.*
|
159,035
|
5,470,804
|
|
Cerner Corporation*
|
134,218
|
8,924,155
|
|
Citrix Systems, Inc.*
|
81,715
|
5,886,749
|
|
Concur Technologies, Inc.*
|
77,705
|
3,530,915
|
|
Informatica Corporation*
|
81,365
|
4,160,192
|
|
MSCI, Inc., Class A*
|
111,515
|
3,957,667
|
|
Red Hat, Inc.*
|
74,125
|
3,119,180
|
|
Telecommunications—2.6%
|
||
|
Polycom, Inc.*
|
134,141
|
3,625,831
|
|
SBA Communications Corporation, Class A*
|
174,965
|
6,678,414
|
|
Transportation—1.8%
|
||
|
Kansas City Southern*
|
116,435
|
6,910,417
|
|
Total common stocks (cost $314,351,340)
|
373,118,998
|
|
|
Common stocks—95.1%
|
|
|
|
Total investment portfolio (cost $314,351,340) 95.1%
|
$373,118,998
|
|
|
Other assets in excess of liabilities 4.9%
|
19,098,000
|
|
|
Net assets 100.0%
|
$392,216,998
|
|
|
*
|
Non-income producing security
|
|
ADR—American depository receipt
|
|
Sector allocation
|
||
|
Sector
|
Percent of net assets
|
|
|
Consumer, cyclical
|
18.4%
|
|
|
Consumer, non-cyclical
|
17.0%
|
|
|
Technology
|
16.2%
|
|
|
Industrial
|
13.8%
|
|
|
Energy
|
11.0%
|
|
|
Communications
|
7.6%
|
|
|
Basic materials
|
6.6%
|
|
|
Financial
|
4.5%
|
|
|
Investment Portfolios
|
|
(UNAUDITED) | 07.31.2011
|
|
Common stocks—99.7%
|
Shares
|
Value
|
|
Aerospace/defense—2.7%
|
||
|
BE Aerospace, Inc.*
|
810,846
|
$32,271,671
|
|
Apparel—0.6%
|
||
|
VF Corporation
|
58,864
|
6,875,315
|
|
Auto parts & equipment—3.0%
|
||
|
Lear Corporation
|
487,315
|
23,878,435
|
|
WABCO Holdings, Inc.*
|
187,800
|
11,840,790
|
|
Banks—2.5%
|
||
|
CIT Group, Inc.*
|
455,715
|
18,110,114
|
|
City National Corporation
|
233,974
|
12,559,724
|
|
Beverages—1.0%
|
||
|
Dr Pepper Snapple Group, Inc.
|
311,435
|
11,759,786
|
|
Biotechnology—3.1%
|
||
|
Bio-Rad Laboratories, Inc., Class A*
|
112,596
|
12,272,964
|
|
Illumina, Inc.*
|
209,922
|
13,109,629
|
|
Life Technologies Corporation*
|
277,661
|
12,503,075
|
|
Chemicals—4.4%
|
||
|
Airgas, Inc.
|
295,361
|
20,291,301
|
|
Albemarle Corporation
|
191,182
|
12,728,898
|
|
Solutia, Inc.*
|
954,070
|
20,455,261
|
|
Commercial services—5.3%
|
||
|
Sotheby's
|
367,485
|
15,562,990
|
|
The Western Union Company
|
967,867
|
18,786,298
|
|
Total System Services, Inc.
|
874,224
|
16,269,309
|
|
Towers Watson & Company, Class A
|
220,468
|
13,481,618
|
|
Computers—3.8%
|
||
|
SanDisk Corporation*
|
436,247
|
18,553,585
|
|
Synopsys, Inc.*
|
625,175
|
14,985,445
|
|
Teradata Corporation*
|
223,914
|
12,306,313
|
|
Distribution/wholesale—1.0%
|
||
|
WESCO International, Inc.*
|
237,671
|
12,047,543
|
|
Diversified financial services—6.9%
|
||
|
Ameriprise Financial, Inc.
|
257,478
|
13,929,560
|
|
Discover Financial Services
|
1,014,925
|
25,992,229
|
|
IntercontinentalExchange, Inc.*
|
133,640
|
16,477,812
|
|
Lazard Ltd., Class A
|
418,850
|
14,073,360
|
|
SLM Corporation
|
816,307
|
12,726,226
|
|
Electric—1.5%
|
||
|
ITC Holdings Corporation
|
253,220
|
17,791,237
|
|
Electrical components & equipment—1.2%
|
||
|
General Cable Corporation*
|
370,758
|
14,745,046
|
|
Electronics—1.0%
|
||
|
Amphenol Corporation, Class A
|
242,417
|
11,851,767
|
|
Engineering & construction—2.1%
|
||
|
Chicago Bridge & Iron Company NV
|
318,594
|
13,142,002
|
|
KBR, Inc.
|
353,738
|
12,610,760
|
|
Hand/machine tools—0.9%
|
||
|
Snap-on, Inc.
|
191,899
|
10,911,377
|
|
Healthcare products—2.1%
|
||
|
ResMed, Inc.*
|
389,871
|
11,809,193
|
|
St. Jude Medical, Inc.
|
283,691
|
13,191,632
|
|
Healthcare services—2.6%
|
||
|
Laboratory Corporation of America Holdings*
|
166,587
|
15,119,436
|
|
Mednax, Inc.*
|
243,010
|
16,563,562
|
|
Common stocks—99.7%
|
|
|
|
Housewares—1.0%
|
||
|
Newell Rubbermaid, Inc.
|
800,135
|
12,418,095
|
|
Insurance—5.5%
|
||
|
Allied World Assurance Company Holdings AG
|
521,249
|
28,382,008
|
|
Reinsurance Group of America, Inc.
|
305,415
|
17,778,207
|
|
Willis Group Holdings PLC
|
498,460
|
20,406,952
|
|
Internet—4.3%
|
||
|
Expedia, Inc.
|
518,975
|
16,446,318
|
|
F5 Networks, Inc.*
|
154,691
|
14,460,515
|
|
IAC/InterActive Corporation*
|
522,894
|
21,642,583
|
|
Lodging—1.4%
|
||
|
Wyndham Worldwide Corporation
|
498,472
|
17,242,146
|
|
Machinery-diversified—1.0%
|
||
|
AGCO Corporation*
|
258,484
|
12,257,311
|
|
Media—6.1%
|
||
|
DISH Network Corporation, Class A*
|
785,329
|
23,269,298
|
|
John Wiley & Sons, Inc., Class A
|
493,452
|
24,702,207
|
|
Liberty Media Corporation - Starz, Series A*
|
339,910
|
26,091,492
|
|
Miscellaneous manufacturer—2.5%
|
||
|
Eaton Corporation
|
389,880
|
18,694,746
|
|
Harsco Corporation
|
409,552
|
11,225,820
|
|
Oil & gas—3.9%
|
||
|
Cimarex Energy Company
|
149,095
|
13,138,251
|
|
Marathon Petroleum Corporation*
|
305,960
|
13,397,988
|
|
QEP Resources, Inc.
|
219,544
|
9,622,614
|
|
Whiting Petroleum Corporation*
|
190,940
|
11,189,084
|
|
Oil & gas services—4.0%
|
||
|
Dresser-Rand Group, Inc.*
|
275,705
|
14,728,161
|
|
Dril-Quip, Inc.*
|
187,295
|
13,206,170
|
|
Oil States International, Inc.*
|
250,379
|
20,205,585
|
|
Packaging & containers—2.8%
|
||
|
Crown Holdings, Inc.*
|
600,626
|
23,070,045
|
|
Rock-Tenn Company, Class A
|
185,136
|
11,378,459
|
|
Pharmaceuticals—4.3%
|
||
|
McKesson Corporation
|
306,079
|
24,829,128
|
|
Medicis Pharmaceutical Corporation, Class A
|
361,964
|
13,457,822
|
|
Mylan, Inc.*
|
576,490
|
13,132,442
|
|
Private equity—1.8%
|
||
|
Blackstone Group LP
|
1,318,223
|
21,895,684
|
|
Real estate—1.0%
|
||
|
Jones Lang LaSalle, Inc.
|
140,407
|
11,951,444
|
|
Retail—1.4%
|
||
|
CarMax, Inc.*
|
384,649
|
12,297,229
|
|
PetSmart, Inc.
|
107,765
|
4,636,050
|
|
Semiconductors—3.5%
|
||
|
Avago Technologies Ltd.
|
403,209
|
13,559,919
|
|
Lam Research Corporation*
|
429,920
|
17,575,130
|
|
Microchip Technology, Inc.
|
340,616
|
11,495,790
|
|
Software—3.6%
|
||
|
Check Point Software Technologies Ltd.*
|
461,477
|
26,604,149
|
|
Solera Holdings, Inc.
|
295,688
|
16,523,045
|
|
Telecommunications—3.6%
|
||
|
Crown Castle International Corporation*
|
556,588
|
24,155,919
|
|
Plantronics, Inc.
|
558,324
|
19,122,597
|
|
Common stocks—99.7%
|
|
|
|
Transportation—2.3%
|
||
|
JB Hunt Transport Services, Inc.
|
279,075
|
12,625,353
|
|
Tidewater, Inc.
|
271,615
|
14,759,559
|
|
Total common stocks (cost $1,129,162,901)
|
1,205,160,578
|
|
|
Total investment portfolio (cost $1,129,162,901) 99.7%
|
1,205,160,578
|
|
|
Other assets in excess of liabilities 0.3%
|
3,513,165
|
|
|
Net assets 100.0%
|
$1,208,673,743
|
|
|
*
|
Non-income producing security
|
|
Sector allocation
|
||
|
Sector
|
Percent of net assets
|
|
|
Consumer, non-cyclical
|
18.4%
|
|
|
Financial
|
17.7%
|
|
|
Industrial
|
16.5%
|
|
|
Communications
|
14.1%
|
|
|
Technology
|
10.8%
|
|
|
Consumer, cyclical
|
8.4%
|
|
|
Energy
|
7.9%
|
|
|
Basic materials
|
4.4%
|
|
|
Utilities
|
1.5%
|
|
|
Investment Portfolios
|
|
(UNAUDITED) | 07.31.2011
|
|
Common stocks—97.3%
|
Shares
|
Value
|
|
Aerospace/defense—2.0%
|
||
|
HEICO Corporation, Class A
|
22,373
|
$827,801
|
|
Orbital Sciences Corporation*
|
46,237
|
800,825
|
|
Apparel—0.8%
|
||
|
Carter's, Inc.*
|
19,773
|
662,395
|
|
Banks—4.7%
|
||
|
Cardinal Financial Corporation
|
56,571
|
607,007
|
|
First Financial Bancorp
|
29,478
|
471,943
|
|
Oriental Financial Group, Inc.
|
65,247
|
810,368
|
|
PrivateBancorp, Inc.
|
75,113
|
885,582
|
|
Signature Bank*
|
6,411
|
379,275
|
|
Texas Capital Bancshares, Inc.*
|
22,996
|
628,481
|
|
Biotechnology—2.4%
|
||
|
Charles River Laboratories International, Inc.*
|
16,270
|
643,478
|
|
Cubist Pharmaceuticals, Inc.*
|
38,037
|
1,292,117
|
|
Chemicals—3.9%
|
||
|
Albemarle Corporation
|
20,530
|
1,366,887
|
|
Arch Chemicals, Inc.
|
14,620
|
688,894
|
|
Kraton Performance Polymers, Inc.*
|
15,819
|
571,066
|
|
Westlake Chemical Corporation
|
10,902
|
564,179
|
|
Coal—1.5%
|
||
|
Alpha Natural Resources, Inc.*
|
18,247
|
779,329
|
|
Arch Coal, Inc.
|
16,345
|
418,432
|
|
Commercial services—6.8%
|
||
|
Chemed Corporation
|
18,710
|
1,137,755
|
|
Cross Country Healthcare, Inc.*
|
41,047
|
283,635
|
|
Euronet Worldwide, Inc.*
|
44,709
|
767,206
|
|
FTI Consulting, Inc.*
|
20,210
|
733,421
|
|
Gartner, Inc.*
|
13,410
|
494,963
|
|
Net 1 UEPS Technologies, Inc.*
|
81,286
|
641,347
|
|
On Assignment, Inc.*
|
88,730
|
905,046
|
|
Parexel International Corporation*
|
28,269
|
580,363
|
|
Computers—2.4%
|
||
|
Electronics for Imaging, Inc.*
|
50,210
|
864,114
|
|
NCR Corporation*
|
52,255
|
1,042,487
|
|
Distribution/wholesale—1.3%
|
||
|
Ingram Micro, Inc., Class A*
|
44,860
|
832,153
|
|
School Specialty, Inc.*
|
21,186
|
254,656
|
|
Diversified financial services—4.8%
|
||
|
Cohen & Steers, Inc.
|
28,900
|
1,142,417
|
|
Investment Technology Group, Inc.*
|
50,340
|
612,638
|
|
MarketAxess Holdings, Inc.
|
41,866
|
1,093,959
|
|
SWS Group, Inc.
|
62,079
|
338,331
|
|
The NASDAQ OMX Group, Inc.*
|
28,590
|
688,161
|
|
Electric—2.0%
|
||
|
ALLETE, Inc.
|
40,534
|
1,631,493
|
|
Electrical components & equipment—1.0%
|
||
|
Belden, Inc.
|
22,730
|
837,600
|
|
Electronics—0.7%
|
||
|
FLIR Systems, Inc.
|
20,995
|
576,523
|
|
Engineering & construction—2.9%
|
||
|
Dycom Industries, Inc.*
|
65,388
|
1,114,212
|
|
URS Corporation*
|
29,398
|
1,200,320
|
|
Food—1.3%
|
||
|
Sara Lee Corporation
|
57,015
|
1,089,557
|
|
Common stocks—97.3%
|
|
|
|
Gas—1.7%
|
||
|
AGL Resources, Inc.
|
34,100
|
1,391,280
|
|
Healthcare products—2.0%
|
||
|
Merit Medical Systems, Inc.*
|
101,227
|
1,586,227
|
|
Healthcare services—4.2%
|
||
|
AMERIGROUP Corporation*
|
25,738
|
1,415,590
|
|
Amsurg Corporation*
|
46,105
|
1,172,450
|
|
Mednax, Inc.*
|
11,845
|
807,355
|
|
Household products/wares—0.9%
|
||
|
Jarden Corporation
|
23,697
|
734,370
|
|
Insurance—3.7%
|
||
|
Allied World Assurance Company Holdings AG
|
8,910
|
485,150
|
|
American Equity Investment Life Holding Company
|
82,724
|
981,934
|
|
Assured Guaranty Ltd.
|
34,915
|
494,047
|
|
Platinum Underwriters Holdings Ltd.
|
11,210
|
385,064
|
|
Tower Group, Inc.
|
28,315
|
647,281
|
|
Internet—3.0%
|
||
|
1-800-Flowers.com, Inc., Class A*
|
134,310
|
404,273
|
|
DealerTrack Holdings, Inc.*
|
40,398
|
936,830
|
|
Equinix, Inc.*
|
10,421
|
1,088,682
|
|
Machinery-diversified—2.8%
|
||
|
AGCO Corporation*
|
13,890
|
658,664
|
|
Altra Holdings, Inc.*
|
27,623
|
614,336
|
|
IDEX Corporation
|
23,295
|
966,277
|
|
Media—1.3%
|
||
|
John Wiley & Sons, Inc., Class A
|
20,375
|
1,019,972
|
|
Metal fabricate/hardware—0.6%
|
||
|
Kaydon Corporation
|
12,800
|
456,320
|
|
Mining—2.5%
|
||
|
AuRico Gold, Inc.*
|
82,638
|
1,002,399
|
|
IAMGOLD Corporation
|
50,410
|
1,008,200
|
|
Miscellaneous manufacturer—4.9%
|
||
|
AptarGroup, Inc.
|
15,640
|
798,422
|
|
Barnes Group, Inc.
|
39,365
|
958,538
|
|
Harsco Corporation
|
45,290
|
1,241,399
|
|
Matthews International Corporation, Class A
|
26,255
|
950,168
|
|
Oil & gas—3.6%
|
||
|
Comstock Resources, Inc.*
|
22,270
|
710,413
|
|
Range Resources Corporation
|
11,365
|
740,543
|
|
Rosetta Resources, Inc.*
|
28,645
|
1,482,952
|
|
Oil & gas services—3.4%
|
||
|
Dresser-Rand Group, Inc.*
|
30,351
|
1,621,350
|
|
Oceaneering International, Inc.
|
25,902
|
1,118,966
|
|
Packaging & containers—0.5%
|
||
|
Silgan Holdings, Inc.
|
9,791
|
379,695
|
|
Pharmaceuticals—2.3%
|
||
|
Herbalife Ltd.
|
33,072
|
1,842,772
|
|
Real estate investment trusts—2.6%
|
||
|
BioMed Realty Trust, Inc.
|
27,095
|
531,604
|
|
Campus Crest Communities, Inc.
|
42,524
|
509,438
|
|
Government Properties Income Trust
|
24,483
|
605,465
|
|
Healthcare Realty Trust, Inc.
|
23,195
|
454,622
|
|
Retail—5.3%
|
||
|
AerCap Holdings NV*
|
41,288
|
508,668
|
|
AFC Enterprises, Inc.*
|
84,180
|
1,300,581
|
|
Common stocks—97.3%
|
|
|
|
Retail—5.3% (cont'd)
|
||
|
Nu Skin Enterprises, Inc., Class A
|
22,430
|
842,022
|
|
RadioShack Corporation
|
56,840
|
791,213
|
|
Stage Stores, Inc.
|
50,191
|
893,400
|
|
Savings & loans—3.6%
|
||
|
BankUnited, Inc.
|
47,375
|
1,180,111
|
|
Beneficial Mutual Bancorp, Inc.*
|
69,916
|
547,442
|
|
Berkshire Hills Bancorp, Inc.
|
29,914
|
655,715
|
|
People's United Financial, Inc.
|
42,635
|
540,612
|
|
Semiconductors—1.5%
|
||
|
Emulex Corporation*
|
50,711
|
428,508
|
|
Intersil Corporation, Class A
|
28,240
|
340,292
|
|
Rovi Corporation*
|
8,401
|
445,001
|
|
Software—4.8%
|
||
|
ACI Worldwide, Inc.*
|
25,599
|
925,660
|
|
Aspen Technology, Inc.*
|
106,142
|
1,645,201
|
|
Avid Technology, Inc.*
|
27,205
|
356,113
|
|
Bottomline Technologies, Inc.*
|
42,801
|
996,835
|
|
Telecommunications—2.8%
|
||
|
Alaska Communications Systems Group, Inc.
|
86,602
|
626,132
|
|
Cbeyond, Inc.*
|
42,918
|
481,969
|
|
NeuStar, Inc., Class A*
|
26,535
|
690,971
|
|
Neutral Tandem, Inc.*
|
29,995
|
459,823
|
|
Transportation—0.8%
|
||
|
Genesee & Wyoming, Inc., Class A*
|
11,055
|
608,467
|
|
Total common stocks (cost $52,304,744)
|
78,728,200
|
|
|
Investment companies—0.4%
|
||
|
Solar Capital Ltd.
|
15,145
|
348,941
|
|
Total investment companies (cost $352,641)
|
348,941
|
|
|
Total investment portfolio (cost $52,657,385) 97.7%
|
79,077,141
|
|
|
Other assets in excess of liabilities 2.3%
|
1,875,085
|
|
|
Net assets 100.0%
|
$80,952,226
|
|
|
*
|
Non-income producing security
|
|
Sector allocation
|
||
|
Sector
|
Percent of net assets
|
|
|
Consumer, non-cyclical
|
19.9%
|
|
|
Financial
|
19.8%
|
|
|
Industrial
|
16.0%
|
|
|
Technology
|
8.7%
|
|
|
Energy
|
8.5%
|
|
|
Consumer, cyclical
|
7.5%
|
|
|
Communications
|
7.2%
|
|
|
Basic materials
|
6.4%
|
|
|
Utilities
|
3.7%
|
|
|
Investment Portfolios
|
|
(UNAUDITED) | 07.31.2011
|
|
Common stocks—95.9%
|
Shares
|
Value
|
|
Aerospace/defense—1.9%
|
||
|
Triumph Group, Inc.
|
454,102
|
$24,448,852
|
|
Airlines—0.6%
|
||
|
JetBlue Airways Corporation*
|
1,539,180
|
7,372,672
|
|
Apparel—3.1%
|
||
|
Deckers Outdoor Corporation*
|
204,380
|
20,284,715
|
|
Steven Madden Ltd.*
|
509,829
|
19,424,485
|
|
Auto parts & equipment—4.0%
|
||
|
Meritor, Inc.*
|
1,297,965
|
17,522,527
|
|
Tenneco, Inc.*
|
393,761
|
15,726,814
|
|
WABCO Holdings, Inc.*
|
281,440
|
17,744,792
|
|
Banks—0.5%
|
||
|
UMB Financial Corporation
|
139,375
|
5,784,062
|
|
Biotechnology—1.2%
|
||
|
Regeneron Pharmaceuticals, Inc.*
|
84,347
|
4,475,452
|
|
Seattle Genetics, Inc.*
|
616,201
|
10,493,903
|
|
Chemicals—4.7%
|
||
|
Huntsman Corporation
|
1,504,421
|
28,734,441
|
|
Intrepid Potash, Inc.*
|
357,840
|
11,898,180
|
|
Kraton Performance Polymers, Inc.*
|
349,459
|
12,615,470
|
|
Quaker Chemical Corporation
|
157,866
|
6,399,888
|
|
Coal—1.4%
|
||
|
Cloud Peak Energy, Inc.*
|
536,660
|
11,967,518
|
|
James River Coal Company*
|
331,537
|
6,285,942
|
|
Commercial services—7.4%
|
||
|
Acacia Research - Acacia Technologies*
|
348,720
|
14,967,062
|
|
FTI Consulting, Inc.*
|
338,985
|
12,301,766
|
|
Monster Worldwide, Inc.*
|
738,933
|
8,675,073
|
|
Parexel International Corporation*
|
406,785
|
8,351,296
|
|
Sotheby's
|
533,011
|
22,573,016
|
|
SuccessFactors, Inc.*
|
389,468
|
10,515,636
|
|
The Geo Group, Inc.*
|
805,245
|
16,749,096
|
|
Computers—3.3%
|
||
|
Fusion-io, Inc.*
|
209,030
|
6,189,378
|
|
Radiant Systems, Inc.*
|
887,721
|
25,024,855
|
|
Riverbed Technology, Inc.*
|
380,256
|
10,886,729
|
|
Diversified financial services—1.2%
|
||
|
Duff & Phelps Corporation, Class A
|
452,587
|
5,154,966
|
|
optionsXpress Holdings, Inc.
|
259,202
|
3,913,950
|
|
Stifel Financial Corporation*
|
164,510
|
6,244,800
|
|
Electrical components & equipment—1.3%
|
||
|
GrafTech International Ltd.*
|
844,310
|
16,261,411
|
|
Electronics—2.1%
|
||
|
Coherent, Inc.*
|
422,884
|
20,311,119
|
|
Cymer, Inc.*
|
141,745
|
6,241,032
|
|
Entertainment—2.8%
|
||
|
Bally Technologies, Inc.*
|
431,122
|
16,999,140
|
|
Pinnacle Entertainment, Inc.*
|
255,675
|
3,689,390
|
|
Shuffle Master, Inc.*
|
1,575,714
|
14,685,654
|
|
Environmental control—1.5%
|
||
|
Waste Connections, Inc.
|
609,560
|
19,652,214
|
|
Food—1.2%
|
||
|
The Fresh Market, Inc.*
|
434,685
|
15,444,358
|
|
Hand/machine tools—1.0%
|
||
|
Regal-Beloit Corporation
|
217,863
|
13,209,034
|
|
Healthcare products—4.1%
|
||
|
BIOLASE Technology, Inc.*
|
86,948
|
299,101
|
|
Bruker Corporation*
|
520,904
|
8,969,967
|
|
Sirona Dental Systems, Inc.*
|
394,731
|
19,965,494
|
|
Thoratec Corporation*
|
679,552
|
22,894,107
|
|
Healthcare services—2.2%
|
||
|
Centene Corporation*
|
603,207
|
19,791,222
|
|
ICON PLC, Sponsored ADR*
|
363,108
|
8,108,202
|
|
Home furnishings—2.6%
|
||
|
DTS, Inc.*
|
499,972
|
17,359,028
|
|
Universal Electronics, Inc.*
|
663,692
|
15,537,030
|
|
Internet—3.4%
|
||
|
BroadSoft, Inc.*
|
228,858
|
6,684,942
|
|
Pandora Media, Inc.*
|
107,514
|
1,622,386
|
|
Sapient Corporation*
|
1,336,162
|
18,599,375
|
|
TIBCO Software, Inc.*
|
620,239
|
16,151,024
|
|
Metal fabricate/hardware—1.1%
|
||
|
Northwest Pipe Company*
|
245,077
|
7,364,564
|
|
RTI International Metals, Inc.*
|
192,525
|
6,174,277
|
|
Mining—1.6%
|
||
|
Titanium Metals Corporation*
|
1,182,273
|
21,032,637
|
|
Oil & gas—0.8%
|
||
|
Brigham Exploration Company*
|
328,640
|
10,450,752
|
|
Oil & gas services—5.8%
|
||
|
Lufkin Industries, Inc.
|
556,807
|
45,368,634
|
|
OYO Geospace Corporation*
|
285,525
|
28,960,801
|
|
Pharmaceuticals—5.5%
|
||
|
BioMarin Pharmaceutical, Inc.*
|
365,283
|
11,407,788
|
|
Catalyst Health Solutions, Inc.*
|
251,860
|
16,504,386
|
|
Herbalife Ltd.
|
394,149
|
21,961,982
|
|
Impax Laboratories, Inc.*
|
326,983
|
6,925,500
|
|
Salix Pharmaceuticals Ltd.*
|
350,435
|
13,589,869
|
|
Real estate investment trusts—1.2%
|
||
|
Redwood Trust, Inc.
|
472,944
|
6,777,288
|
|
Two Harbors Investment Corporation
|
873,350
|
8,558,830
|
|
Retail—11.9%
|
||
|
BJ's Restaurants, Inc.*
|
614,635
|
28,500,625
|
|
Cash America International, Inc.
|
471,979
|
26,411,945
|
|
Chico's FAS, Inc.
|
1,133,358
|
17,102,372
|
|
Dunkin' Brands Group, Inc.*
|
10,000
|
289,300
|
|
Genesco, Inc.*
|
723,748
|
37,490,146
|
|
GNC Holdings, Inc., Class A*
|
725,040
|
18,271,008
|
|
Vitamin Shoppe, Inc.*
|
555,146
|
24,182,160
|
|
Semiconductors—3.6%
|
||
|
NetLogic Microsystems, Inc.*
|
385,429
|
13,316,572
|
|
Rovi Corporation*
|
162,105
|
8,586,702
|
|
Teradyne, Inc.*
|
907,460
|
12,241,635
|
|
Veeco Instruments, Inc.*
|
297,730
|
11,846,677
|
|
Software—8.5%
|
||
|
Allscripts Healthcare Solutions, Inc.*
|
504,255
|
9,152,228
|
|
ANSYS, Inc.*
|
318,218
|
16,101,831
|
|
Concur Technologies, Inc.*
|
141,760
|
6,441,574
|
|
Informatica Corporation*
|
414,037
|
21,169,712
|
|
MedAssets, Inc.*
|
742,836
|
9,411,732
|
|
Medidata Solutions, Inc.*
|
719,913
|
14,707,823
|
|
QLIK Technologies, Inc.*
|
560,358
|
16,984,451
|
|
Quality Systems, Inc.
|
165,759
|
15,143,742
|
|
Telecommunications—2.6%
|
||
|
EMS Technologies, Inc.*
|
562,649
|
$18,499,899
|
|
Plantronics, Inc.
|
415,261
|
14,222,689
|
|
Transportation—1.8%
|
||
|
Atlas Air Worldwide Holdings, Inc.*
|
176,900
|
9,267,791
|
|
Landstar System, Inc.
|
303,022
|
13,590,537
|
|
Total common stocks (cost $975,625,881)
|
1,223,213,025
|
|
|
Total investment portfolio (cost $975,625,881) 95.9%
|
1,223,213,025
|
|
|
Other assets in excess of liabilities 4.1%
|
52,260,040
|
|
|
Net assets 100.0%
|
$1,275,473,065
|
|
|
*
|
Non-income producing security
|
|
ADR—American depository receipt
|
|
Sector allocation
|
||
|
Sector
|
Percent of net assets
|
|
|
Consumer, cyclical
|
25.0%
|
|
|
Consumer, non-cyclical
|
21.6%
|
|
|
Technology
|
15.4%
|
|
|
Industrial
|
10.7%
|
|
|
Energy
|
8.1%
|
|
|
Basic materials
|
6.3%
|
|
|
Communications
|
5.9%
|
|
|
Financial
|
2.9%
|
|
|
Notes to Investment Portfolios
|
|
(UNAUDITED) | 07.31.2011
|
|
●
|
The Eagle International Equity Fund (“International Equity Fund”) seeks capital appreciation principally through investment in a portfolio of international equity securities,
|
|
●
|
The Eagle Investment Grade Bond Fund (“Investment Grade Bond Fund”) seeks current income and preservation of capital,
|
|
●
|
The Eagle Large Cap Core Fund (“Large Cap Core Fund”) seeks long-term growth through capital appreciation,
|
|
●
|
The Eagle Mid Cap Growth Fund (“Mid Cap Growth Fund”) seeks long-term capital appreciation,
|
|
●
|
The Eagle Mid Cap Stock Fund (“Mid Cap Stock Fund”) seeks long-term capital appreciation,
|
|
●
|
The Eagle Small Cap Core Value Fund (“Small Cap Core Value Fund”) seeks capital growth, and
|
|
●
|
The Eagle Small Cap Growth Fund (“Small Cap Growth Fund”) seeks long-term capital appreciation.
|
|
●
|
For all Funds except the Investment Grade Bond Fund, Class A shares are sold at a maximum front-end sales charge of 4.75%. For the Investment Grade Bond Fund, Class A shares are sold at a maximum front-end sales charge of 3.75%. Class A share investments greater than $1 million, which are not sold subject to a sales charge, may be subject to a contingent deferred sales charge (“CDSC”) of up to 1% of the lower of net asset value (“NAV”) or purchase price if redeemed within 18 months of purchase.
|
|
●
|
Class C shares are sold subject to a CDSC of 1% of the lower of NAV or purchase price if redeemed within one year of purchase.
|
|
●
|
Class I, Class R-3, Class R-5, and Class R-6 shares are each sold without a front-end sales charge or a CDSC to qualified buyers.
|
|
●
|
The quotation may be stale;
|
|
●
|
The quotation may be unreliable because the security is not traded frequently;
|
|
●
|
Trading on the security ceased before the close of the trading market;
|
|
●
|
The security is newly issued;
|
|
●
|
Issuer-specific events occurred after the security ceased trading; or
|
|
●
|
Because of the passage of time between the close of the market on which the security trades and the close of the NYSE.
|
|
●
|
A merger or insolvency;
|
|
●
|
Events which affect a geographical area or an industry segment, such as political events or natural disasters; or
|
|
●
|
Market events, such as a significant movement in the U.S. market.
|
|
●
|
Domestic exchange-traded equity securities | Market quotations are generally available and reliable for domestic exchange-traded equity securities. If the prices provided by the pricing service and independent quoted prices are unreliable, the Valuation Committee will fair value the security using the Procedures.
|
|
●
|
Foreign equity securities | If market quotations are available and reliable for foreign exchange-traded equity securities, the securities will be valued at the market quotations. Because trading hours for certain foreign securities end before the close of the NYSE, closing market quotations may become unreliable. Consequently, fair valuation of portfolio securities may occur on a daily basis. The Fund may fair value a security if certain events occur between the time trading ends on a particular security and the Fund’s NAV calculation. The Fund may also fair value a particular security if the events are significant and make the closing price unreliable. If an issuer-specific event has occurred that Eagle determines, in its judgment, is likely to have affected the closing price of a foreign security, the Fund will price the security at fair value. Eagle also utilizes a screening process from a pricing vendor to indicate the degree of certainty, based on historical data, that the closing price in the principal market where a foreign security trades is not the current market value as of the close of the NYSE. Securities and other assets quoted in foreign currencies are valued in U.S. dollars based on exchange rates provided by a pricing service. The pricing vendor, pricing methodology or degree of certainty may change from time to time. Fund securities primarily traded on foreign markets may trade on days that are not business days of the Fund. Because the NAV of Fund shares is determined only on business days of the Fund, the value of the portfolio securities of a Fund that invests in foreign securities may change on days when you will not be able to purchase or redeem shares of the Fund.
|
|
●
|
Fixed income securities | Government, corporate, asset-backed bonds, municipal bonds and convertible securities, including high yield or junk bonds, normally are valued on the basis of prices provided by independent pricing services. Prices provided by the pricing services may be determined without exclusive reliance on quoted prices, and may reflect appropriate factors such as institution-size trading in similar groups of securities, developments related to special securities, dividend rate, maturity and other market data. If the prices provided by the pricing service and independent quoted prices are unreliable, the Valuation Committee will fair value the security using the Procedures.
|
|
●
|
Short-term securities | The amortized cost method of security valuation is used by the Funds (as set forth in Rule 2a-7 under the Investment Company Act of 1940, as amended) for short-term investments (investments that have a maturity date of 60 days or less). The amortized cost of an instrument is determined by valuing it at cost as of the time of purchase and thereafter accreting/amortizing any purchase discount/premium at a constant rate until maturity. Amortized cost approximates fair value.
|
|
●
|
Futures and options | Futures and options are valued on the basis of market quotations, if available.
|
|
●
|
Investment Companies | Investments in other companies are valued at their reported net asset value.
|
|
Quoted prices in
active markets for identical
assets
(Level 1)
|
Significant
other
observable
inputs
(Level 2)
|
Total
|
||
|
International Equity Fund
|
||||
|
Foreign common stocks
|
||||
|
Advertising
|
$99,920
|
$253,329
|
$353,249
|
|
|
Aerospace/defense
|
231,142
|
298,528
|
529,670
|
|
|
Apparel
|
—
|
250,594
|
250,594
|
|
|
Auto manufacturers
|
1,088,163
|
3,804,132
|
4,892,295
|
|
|
Auto parts & equipment
|
—
|
242,342
|
242,342
|
|
|
Banks
|
4,048,755
|
2,801,685
|
6,850,440
|
|
|
Beverages
|
594,115
|
922,561
|
1,516,676
|
|
|
Biotechnology
|
855,104
|
—
|
855,104
|
|
|
Building materials
|
35,222
|
1,328,100
|
1,363,322
|
|
|
Chemicals
|
1,047,950
|
835,091
|
1,883,041
|
|
|
Cosmetics/personal care
|
923,577
|
—
|
923,577
|
|
|
Distribution/wholesale
|
—
|
861,883
|
861,883
|
|
|
Electric
|
—
|
132,856
|
132,856
|
|
|
Electrical components &
equipment |
—
|
975,348
|
975,348
|
|
|
Engineering & construction
|
1,389,761
|
2,117,189
|
3,506,950
|
|
|
Food
|
780,827
|
1,084,214
|
1,865,041
|
|
|
Food service
|
—
|
311,456
|
311,456
|
|
|
Forest products & paper
|
—
|
107,613
|
107,613
|
|
|
Hand/machine tools
|
—
|
257,668
|
257,668
|
|
|
Healthcare products
|
833,508
|
1,677,136
|
2,510,644
|
|
|
Healthcare services
|
164,563
|
—
|
164,563
|
|
|
Holding companies, diversified
|
660,170
|
1,092,731
|
1,752,901
|
|
|
Household products/wares
|
—
|
343,852
|
343,852
|
|
|
Insurance
|
377,976
|
519,576
|
897,552
|
|
|
Internet
|
2,100,922
|
97,248
|
2,198,170
|
|
|
Lodging
|
—
|
813,574
|
813,574
|
|
|
Machinery, construction & mining
|
—
|
1,322,735
|
1,322,735
|
|
|
Machinery, diversified
|
—
|
606,207
|
606,207
|
|
|
Mining
|
3,206,973
|
3,258,625
|
6,465,598
|
|
|
Miscellaneous manufacturer
|
164,134
|
—
|
164,134
|
|
|
Office/business equipment
|
—
|
241,840
|
241,840
|
|
|
Oil & gas
|
1,245,021
|
4,234,388
|
5,479,409
|
|
|
Oil & gas services
|
—
|
961,615
|
961,615
|
|
|
Pharmaceuticals
|
1,738,058
|
724,882
|
2,462,940
|
|
|
Real estate
|
—
|
1,253,279
|
1,253,279
|
|
|
Retail
|
$767,668
|
$2,686,894
|
$3,454,562
|
|
|
Semiconductors
|
257,022
|
95,533
|
352,555
|
|
|
Telecommunications
|
1,399,675
|
1,373,754
|
2,773,429
|
|
|
Transportation
|
—
|
149,749
|
149,749
|
|
|
Foreign preferred stocks
|
||||
|
Auto Manufacturers
|
—
|
835,643
|
835,643
|
|
|
Household products/wares
|
173,097
|
—
|
173,097
|
|
|
Investment companies
|
||||
|
Commodity Fund
|
163,162
|
—
|
163,162
|
|
|
Equity Fund
|
312,316
|
—
|
312,316
|
|
|
Other financial instruments (appreciation) (b)
|
38,620
|
—
|
38,620
|
|
|
Other financial instruments (depreciation) (b)
|
(49,425)
|
—
|
(49,425)
|
|
|
Total investment portfolio
|
$24,647,996
|
$38,873,850
|
$63,521,846
|
|
|
Investment Grade Bond Fund
|
||||
|
Domestic corporate bonds (a)
|
$—
|
$42,781,814
|
$42,781,814
|
|
|
Foreign corporate bonds (a)
|
—
|
7,362,893
|
7,362,893
|
|
|
U.S. Treasuries
|
—
|
19,798,471
|
19,798,471
|
|
|
Domestic mortgage-backed obligations (a)
|
—
|
7,064,149
|
7,064,149
|
|
|
Foreign mortgage-backed obligations (a)
|
—
|
9,149,343
|
9,149,343
|
|
|
U.S. Government Agency securities (a)
|
—
|
6,736,642
|
6,736,642
|
|
|
Foreign government securities
|
—
|
4,272,268
|
4,272,268
|
|
|
Supranational banks
|
—
|
4,163,293
|
4,163,293
|
|
|
Total investment portfolio
|
$—
|
$101,328,873
|
$101,328,873
|
|
|
Large Cap Core Fund
|
||||
|
Domestic common stocks (a)
|
$23,316,219
|
$—
|
$23,316,219
|
|
|
Investment companies (a)
|
795,321
|
—
|
795,321
|
|
|
Total investment portfolio
|
$24,111,540
|
$—
|
$24,111,540
|
|
|
Mid Cap Growth Fund
|
||||
|
Domestic common stocks (a)
|
$373,118,998
|
$—
|
$373,118,998
|
|
|
Total investment portfolio
|
$373,118,998
|
$—
|
$373,118,998
|
|
|
Mid Cap Stock Fund
|
||||
|
Domestic common stocks (a)
|
$1,205,160,578
|
$—
|
$1,205,160,578
|
|
|
Total investment portfolio
|
$1,205,160,578
|
$—
|
$1,205,160,578
|
|
|
Small Cap Core Value Fund
|
||||
|
Domestic common stocks (a)
|
$78,728,200
|
$—
|
$78,728,200
|
|
|
Investment companies (a)
|
348,941
|
—
|
348,941
|
|
|
Total investment portfolio
|
$79,077,141
|
$—
|
$79,077,141
|
|
|
Small Cap Growth Fund
|
||||
|
Domestic common stocks (a)
|
$1,223,213,025
|
$—
|
$1,223,213,025
|
|
|
Total investment portfolio
|
$1,223,213,025
|
$—
|
$1,223,213,025
|
|
|
|
(a)
|
Please see the investment portfolio for detail by industry.
|
|
|
(b)
|
Other financial instruments include foreign forward currency contracts which are valued at the unrealized appreciation/(depreciation) of the instrument.
|
|
Type of derivative
|
Balance sheet location
|
Value
|
|
Assets
|
||
|
Forward foreign currency contracts
|
Unrealized gain on forward currency contracts
|
$38,620
|
|
Liabilities
|
||
|
Forward foreign currency contracts
|
Unrealized loss on forward currency contracts
|
$(49,425)
|
|
Type of derivative
|
Forward foreign currency contracts
|
|
Location of gain (loss) on derivatives
recognized in income
|
Net realized gain (loss) on foreign currency transactions/Net change in unrealized appreciation (depreciation) on translation of assets and liabilities denominated in foreign currencies
|
|
Realized gain (loss) on derivatives recognized in income
|
$(333,950)
|
|
Change in unrealized appreciation (depreciation) on derivatives recognized in income
|
$145,737
|
|
Identified cost
|
||
|
International Equity Fund
|
$50,817,546
|
|
|
Investment Grade Bond Fund
|
99,235,329
|
|
|
Large Cap Core Fund
|
22,460,340
|
|
|
Mid Cap Growth Fund
|
316,322,062
|
|
|
Mid Cap Stock Fund
|
1,152,022,256
|
|
|
Small Cap Core Value Fund
|
52,734,713
|
|
|
Small Cap Growth Fund
|
980,396,905
|
|
Unrealized
appreciation |
Unrealized
depreciation |
Net unrealized
appreciation (depreciation) |
|
|
International Equity Fund
|
$14,264,423
|
$(1,549,318)
|
$12,715,105
|
|
Investment Grade Bond Fund
|
2,161,285
|
(67,741)
|
2,093,544
|
|
Large Cap Core Fund
|
2,014,353
|
(363,153)
|
1,651,200
|
|
Mid Cap Growth Fund
|
68,369,234
|
(11,572,298)
|
56,796,936
|
|
Mid Cap Stock Fund
|
94,860,162
|
(41,721,840)
|
53,138,322
|
|
Small Cap Core Value Fund
|
28,404,953
|
(2,062,525)
|
26,342,428
|
|
Small Cap Growth Fund
|
271,111,069
|
(28,294,949)
|
242,816,120
|
|
(a)
|
Based on an evaluation of the disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940), the Principal Executive Officer and Principal Financial Officer of Eagle Series Trust have concluded that such disclosure controls and procedures are effective as of a date within 90 days of the filing date of this Form N-Q.
|
|
(b)
|
There was no change in the internal controls over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940 Act) of Eagle Series Trust that occurred during the most recent fiscal quarter that has materially affected or is reasonably likely to materially affect, its internal controls over financial reporting.
|
|
(a)
|
Certifications of the Principal Executive Officer and Principal Financial Officer of Eagle Series Trust as required by Rule 30a-2(a) under the Investment Company Act of 1940.
|
|
1.
|
I have reviewed this report on Form N-Q of Eagle Series Trust;
|
|
2.
|
Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
|
|
3.
|
Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed;
|
|
4.
|
The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:
|
|
5.
|
The registrant’s other certifying officer and I have disclosed to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):
|
|
Dated: September 19, 2011
|
/s/ Susan L. Walzer | |
|
Susan L. Walzer
|
||
| Principal Executive Officer | ||
|
1.
|
I have reviewed this report on Form N-Q of Eagle Series Trust;
|
|
2.
|
Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
|
|
3.
|
Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed;
|
|
4.
|
The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:
|
|
5.
|
The registrant’s other certifying officer and I have disclosed to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):
|
|
Dated: September 19, 2011
|
/s/ Carolyn Gill | |
|
Carolyn Gill
|
||
| Principal Financial Officer | ||