Form N-CSR is to be used by management investment companies to file reports with the Commission not later than 10 days after the transmission to stockholders of any report that is required to be transmitted to stockholders under Rule 30e-1 under the Investment Company Act of 1940 (17 CFR 270.30e-1). The Commission may use the information provided on Form N-CSR in its regulatory, disclosure review, inspection, and policymaking roles.

A registrant is required to disclose the information specified by Form N-CSR, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-CSR 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 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.

This report and the financial statements contained herein are submitted for the general information of the shareholders of the Funds. This report is not authorized for distribution to prospective investors in the Funds unless preceded or accompanied by an effective prospectus.

As a shareholder of Old Westbury Funds, Inc., you incur ongoing costs, including management fees and other Fund expenses. This example is intended to help you understand your ongoing costs (in dollars) of investing in the Funds and to compare these costs with the ongoing costs of investing in other mutual funds.

The example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period from Nov 1, 2013 through April 30, 2014.

The table below provides information about actual account values and actual expenses. You may use the information below, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number in the table under the heading entitled “Actual Expenses Paid During Period” to estimate the expenses you paid on your account during this period.

The table below provides information about hypothetical account values and hypothetical expenses based on each Fund’s actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the Fund’s actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of other funds.

Please note that the expenses shown in the tables are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as sales charges (loads), redemption fees, or exchange fees. Therefore, these tables are useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.

Shares			Value
COMMON STOCKS — 95.4%
Banks — 10.2%
	349,975	BNP Paribas SA - ADR	$	13,192,833
	247,990	Citigroup, Inc.		11,881,201
	369,850	DBS Group Holdings Ltd. - ADR		19,989,283
	278,300	HSBC Holdings Plc - ADR		14,282,355
	1,669,660	KeyCorp.		22,774,162
	225,450	Morgan Stanley		6,973,169
	544,250	Skandinaviska Enskilda Banken AB - ADR(b)		7,429,013
				96,522,016
Consumer Discretionary — 15.5%
	725,660	Bridgestone Corp. - ADR		12,953,031
	334,650	British Sky Broadcasting Group Plc - ADR		20,115,812
	245,890	Daihatsu Motor Co. Ltd. - ADR		8,156,171
	409,660	Dollar General Corp.(b)		23,121,210
	313,510	L Brands, Inc.		16,992,241
	244,470	Macy’s, Inc.		14,039,912
	424,450	Pandora A/S - ADR		7,164,715
	273,010	Swatch Group AG (The) - ADR		8,744,510
	241,635	Target Corp.		14,920,961
	75,925	Viacom, Inc. - Class B		6,452,107
	274,075	Volkswagen AG - ADR		14,747,976
				147,408,646
Consumer Staples — 11.1%
	157,290	CVS Caremark Corp.		11,438,129
	235,005	Imperial Tobacco Group Plc - ADR		20,490,086
	1,111,380	J Sainsbury Plc - ADR		25,495,057
	191,960	Lorillard, Inc.		11,406,263
	542,490	Svenska Cellulosa AB SCA - ADR		15,287,368
	100,125	Walgreen Co.		6,798,488
	510,750	Wilmar International Ltd. - ADR		13,902,615
				104,818,006
Energy — 5.8%
	108,820	China Petroleum & Chemical Corp. - ADR		9,670,833
	233,890	ConocoPhillips		17,380,366
	229,305	ENI SpA - ADR		11,841,310
	240,965	Marathon Oil Corp.		8,710,885
	133,850	Valero Energy Corp.		7,652,205
				55,255,599
Health Care — 11.8%
	293,055	Aetna, Inc.		20,938,780
	348,400	Mylan, Inc.(b)		17,691,752
	729,145	Pfizer, Inc.		22,807,656
	362,660	Sanofi - ADR		19,511,108
	111,685	Thermo Fisher Scientific, Inc.		12,732,089
	191,625	Zimmer Holdings, Inc.		18,549,300
				112,230,685

Shares			Value
Industrials — 10.4%
	51,100	Cummins, Inc.	$	7,708,435
	104,625	Illinois Tool Works, Inc.		8,917,189
	852,630	Itochu Corp. - ADR		19,030,702
	216,615	Nielsen Holdings NV		10,170,074
	107,420	Union Pacific Corp.		20,455,991
	72,200	United Rentals, Inc.(b)		6,774,525
	1,121,370	Weir Group Plc (The) - ADR		25,264,466
				98,321,382
Information Technology — 10.0%
	46,670	Apple, Inc.		27,539,500
	348,745	Avago Technologies Ltd.		22,145,308
	174,350	Hitachi Ltd. - ADR		12,411,977
	162,050	NPX Semiconductor NV(b)		9,661,421
	294,315	Qualcomm, Inc.		23,165,534
				94,923,740
Insurance — 6.8%
	131,190	ACE Ltd.		13,423,361
	246,740	American International Group, Inc.		13,109,296
	903,510	Muenchener Rueckversi-cherungs AG - ADR		20,229,589
	2,131,135	RSA Insurance Group Plc - ADR(b)		17,475,307
				64,237,553
Materials — 1.7%
	1,077,890	Sumitomo Metal Mining Co. Ltd. - ADR		16,330,034
Real Estate — 1.1%
	743,085	Wharf Holdings Ltd. - ADR		10,429,198
Telecommunication Services — 7.2%
	246,210	CenturyLink, Inc.		8,595,191
	367,475	China Telecom Corp. Ltd. - ADR		18,822,070
	950,039	KDDI Corp. - ADR		12,645,019
	2,748,085	Tele2 AB - ADR		17,477,821
	383,660	Tim Participacoes SA - ADR		10,324,291
				67,864,392
Utilities — 3.8%
	535,425	American Water Works Co., Inc.		24,377,900
	542,055	Tokyo Gas Co. Ltd. - ADR		11,366,893
				35,744,793
Total Common Stocks (Cost $779,058,449)				904,086,044

(a)	Cost for federal income tax purposes is $818,842,501 and net unrealized appreciation of investments is as follows:

Unrealized appreciation	$	135,589,013
Unrealized depreciation		(10,594,970	)
Net unrealized appreciation	$	124,994,043


(b)	Non-income producing security.

(c)	Rate shown represents current yield at April 30, 2014.

ADR-American Depositary Receipt

Portfolio diversification by Sector (Unaudited)

Sector	Percentage of Net Assets
Banks		10.2	%
Consumer Discretionary		15.5	%
Consumer Staples		11.1	%
Energy		5.8	%
Health Care		11.8	%
Industrials		10.4	%
Information Technology		10.0	%
Insurance		6.8	%
Materials		1.7	%
Real Estate		1.1	%
Telecommunication Services		7.2	%
Utilities		3.8	%
Other*		4.6	%
		100	%

*	Includes cash and equivalents, investment companies, pending trades and Fund share transactions, interest and dividends receivable, prepaids and accrued expenses payable.

Shares			Value
COMMON STOCKS — 89.6%
ARGENTINA — 0.2%
	272,000	MercadoLibre, Inc.	$	25,369,440
BELGIUM — 0.4%
	487,000	UCB SA(e)		39,923,460
BRAZIL — 1.0%
	2,010,000	Cielo SA		35,057,249
	4,954,652	Itau Unibanco Holding SA - ADR		81,058,107
				116,115,356
CANADA — 0.3%
	1,970,700	Barrick Gold Corp.		34,395,777
CHINA —0.9%
	29,122,000	Anton Oilfield Services Group(e)		19,269,550
	541,000	Baidu, Inc.. - ADR(b)		83,232,850
				102,502,400
DENMARK — 1.0%
	2,430,000	Novo Nordisk A/S - Class B		109,621,004
FINLAND — 2.4%
	1,722,000	Kone Oyj - Class B(e)		73,629,356
	3,970,000	Sampo Oyj - A Shares(e)		197,123,058
				270,752,414
FRANCE — 0.6%
	352,618	Renault SA		34,317,637
	1,272,455	Vivendi SA		34,141,620
				68,459,257
GERMANY — 2.8%
	1,266,000	Bayerische Motoren Werke AG		158,390,511
	1,861,000	Deutsche Boerse AG(e)		136,296,046
	162,874	Siemens AG		21,466,468
				316,153,025
HONG KONG — 0.2%
	400,000	Jardine Matheson Holdings Ltd.		24,920,000
INDIA — 1.6%
	2,932,000	Asian Paints Ltd.(e)		24,556,077
	5,051,000	Housing Development Finance Corp.(e)		75,197,637
	10,274,000	ITC Ltd.(e)		58,043,032
	6,101,000	Titan Co. Ltd.(e)		25,778,660
				183,575,406
ITALY — 1.0%
	1,395,722	ENI SpA		36,229,132
	2,803,492	Fiat SpA(b)		33,760,142
	5,564,000	Prada SpA(e)		44,423,297
				114,412,571
JAPAN — 3.6%
	505,900	East Japan Railway Co.		36,880,449
	748,000	Japan Airlines Co. Ltd.		38,704,162

Shares			Value
JAPAN (continued)
	3,174,000	KDDI Corp.	$	168,952,981
	9,580,700	Mitsubishi UFJ Financial Group, Inc.		50,792,189
	283,900	Nintendo Co. Ltd.		29,824,287
	820,600	Nippon Telegraph & Telephone Corp.		45,438,613
	427,000	Ono Pharmaceutical Co. Ltd.		33,789,113
				404,381,794
NETHERLANDS — 2.8%
	784,000	ASML Holding NV		63,809,760
	2,223,138	ING Groep NV(b)		31,567,449
	375,000	Koninklijke Vopak NV		18,669,360
	9,967,518	Reed Elsevier NV(e)		203,346,771
				317,393,340
RUSSIA — 0.3%
	722,502	Lukoil OAO - ADR		38,184,231
SINGAPORE — 1.2%
	1,802,000	Jardine Cycle & Carriage Ltd.(e)		67,425,875
	14,326,000	Sembcorp Industries Ltd.(e)		61,362,862
				128,788,737
SOUTH AFRICA — 0.7%
	796,000	Naspers Ltd. - Class N		75,056,509
SOUTH KOREA — 1.7%
	31,564	Samsung Electronics Co. Ltd.		41,024,341
	153,640	Samsung Electronics Co. Ltd. Preference Shares(e)		154,190,148
				195,214,489
SWITZERLAND — 3.9%
	2,663,000	Nestle SA		205,602,602
	646,800	Roche Holding AG		189,608,454
	19,200	SGS SA		47,885,468
				443,096,524
TAIWAN — 0.1%
	835,000	Ginko International Co. Ltd.(e)		14,018,975
THAILAND — 0.8%
	3,507,000	Airports of Thailand Public Co. Ltd.(e)		21,133,033
	51,195,000	CP ALL Public Co. Ltd.(e)		66,445,921
				87,578,954
UNITED KINGDOM — 7.6%
	4,768,000	ARM Holdings Plc		71,767,963
	308,000	ASOS Plc(b)		22,225,844
	3,204,635	BP Plc		27,010,099
	8,466,950	British Sky Broadcasting Group Plc(e)		125,800,595
	2,930,000	Petrofac Ltd.(e)		71,879,701
	907,358	Rio Tinto Plc		49,398,536
	5,353,828	Rolls-Royce Holdings Plc		94,913,228
	751,582,952	Rolls-Royce Holdings Plc - Preference Shares(b)(e)		1,268,966

Shares			Value
UNITED KINGDOM (continued)
	1,100,000	Rotork Plc(e)	$	48,120,832
	17,800,000	Royal Mail Plc(b)(e)		159,132,540
	7,700,587	Tesco Plc		38,088,192
	2,614,966	Wolseley Plc(e)		151,040,060
				860,646,556
UNITED STATES — 54.5%
	542,400	Allergan, Inc.		89,951,616
	1,849,362	Altria Group, Inc.		74,177,910
	237,000	Amazon.com, Inc.(b)		72,078,810
	721,019	Apache Corp.		62,584,449
	395,095	Apple, Inc.		233,141,609
	3,215,473	Applied Materials, Inc.		61,286,915
	117,880	AutoZone, Inc.(b)		62,934,953
	2,272,657	Bank of New York Mellon Corp. (The)		76,974,893
	926,500	Baxter International, Inc.		67,439,935
	1,540,000	Becton Dickinson and Co.(e)		174,066,200
	1,219,677	Bed Bath & Beyond, Inc.(b)		75,778,532
	255,000	Biogen Idec, Inc.(b)		73,215,600
	692,000	BioMarin Pharmaceutical, Inc.(b)		40,295,160
	2,105,300	Broadcom Corp. - Class A		64,864,293
	719,000	Cerner Corp.(b)		36,884,700
	1,093,500	CH Robinson Worldwide, Inc.		64,407,150
	2,915,000	Charles Schwab Corp. (The)		77,393,250
	1,097,200	Cisco Systems, Inc.		25,356,292
	834,500	Citigroup, Inc.		39,980,895
	1,308,430	Coach, Inc.		58,421,400
	4,973,200	Coca-Cola Co. (The)		202,856,828
	2,541,000	Colgate-Palmolive Co.		171,009,300
	2,517,200	Covidien Plc		179,350,500
	1,154,250	DIRECTV(b)		89,569,800
	287,000	Discovery Communications, Inc. - Class A(b)		21,783,300
	1,252,500	Dr Pepper Snapple Group, Inc.		69,413,550
	3,176,893	EMC Corp.		81,963,839
	1,393,000	Facebook, Inc. - Class A(b)		83,273,540
	629,000	FMC Technologies, Inc.(b)		35,664,300
	3,266,500	Franklin Resources, Inc.		171,001,275
	1,894,200	General Electric Co.		50,935,038
	1,164,900	General Motors Co.		40,165,752
	70,000	Google, Inc. - Class A(b)		37,441,600
	60,000	Google, Inc. - Class C(b)		31,599,600
	3,928,500	Hewlett-Packard Co.		129,876,210
	106,000	Intuitive Surgical, Inc.(b)		38,340,200
	1,339,998	JPMorgan Chase & Co.		75,013,088
	402,000	Kansas City Southern		40,553,760
	879,767	Kohl’s Corp.		48,202,434
	1,980,000	Kraft Foods Group, Inc.		112,582,800
	841,000	Las Vegas Sands Corp.		66,548,330
	1,102,000	Lockheed Martin Corp.		180,882,280
	1,661,500	Mastercard, Inc. - Class A		122,203,325
	1,606,700	Mattel, Inc.		63,006,741
	922,000	Medidata Solutions, Inc.(b)		33,477,820
	1,153,800	Medtronic, Inc.		67,866,516

Shares			Value
UNITED STATES (continued)
	1,651,000	Merck & Co., Inc.	$	96,682,560
	1,054,300	Microsoft Corp.		42,593,720
	1,230,700	Molson Coors Brewing Co. - Class B		73,805,079
	712,000	Monsanto Co.		78,818,400
	501,000	National Oilwell Varco, Inc.		39,343,530
	682,000	NIKE, Inc. - Class B		49,751,900
	2,529,963	Occidental Petroleum Corp.		242,243,957
	2,370,320	Oracle Corp.		96,898,682
	988,483	PNC Financial Services Group, Inc. (The)		83,072,111
	81,800	Priceline.com, Inc.(b)		94,703,950
	667,400	Raytheon Co.		63,723,352
	202,000	Regeneron Pharmaceuticals, Inc.(b)		59,971,780
	2,547,300	Schlumberger Ltd		258,678,315
	2,577,100	Staples, Inc.		32,213,750
	833,285	T Rowe Price Group, Inc.		68,437,697
	2,616,700	Texas Instruments, Inc.		118,929,015
	922,900	Union Pacific Corp.		175,747,847
	3,950,000	US Bancorp		161,081,000
	454,000	Visa, Inc. - Class A		91,984,940
	933,855	Wal-Mart Stores, Inc.		74,437,582
	3,681,000	Wells Fargo & Co.		182,724,840
	831,000	Workday, Inc. - Class A(b)		60,721,170
	570,000	WW Grainger, Inc.		145,008,000
				6,167,389,465
Total Common Stocks (Cost $8,588,436,902)				10,137,949,684

Principal Amount
U.S. GOVERNMENT AGENCIES — 1.0%
Federal Farm Credit Bank — 0.0%
$	225,000	0.04%, 06/06/14(c)		224,991
Federal Home Loan Bank — 1.0%
	8,500,000	0.01%, 05/07/14(c)		8,499,950
	34,750,000	0.09%, 05/07/14(c)		34,749,508
	3,500,000	0.10%, 05/09/14(c)		3,499,973
	20,000,000	0.11%, 05/09/14(c)		19,999,533
	1,835,000	0.04%, 05/16/14(c)		1,834,973
	30,000,000	0.04%, 05/23/14(c)		29,999,313
	1,180,000	0.05%, 06/04/14(c)		1,179,944
	4,995,000	0.05%, 06/25/14(c)		4,994,618
	4,325,000	0.05%, 06/25/14(c)		4,324,803
	900,000	0.05%, 06/27/14(c)		899,932
	135,000	0.06%, 07/09/14(c)		134,990
	2,745,000	0.05%, 07/30/14(c)		2,744,726
				112,862,263
Total U.S. Government Agencies (Cost $113,087,052)				113,087,254

Shares			Value
EXCHANGE TRADED FUNDS — 7.1%
	1,739,000	iShares Core S&P 500 Index Fund	$	329,610,060
	21,300,000	iShares MSCI Japan Index Fund .		236,004,000
	3,565,000	Vanguard FTSE Europe Index		215,718,150
	128,000	SPDR S&P 500 ETF Trust		24,119,040
Total Exchange Traded Funds (Cost $791,735,487)				805,451,250
INVESTMENT COMPANY — 3.3%
	377,881,300	Federated Government Obligations Fund, 0.02%(d)		377,881,300
Total Investment Company (Cost $377,881,300)				377,881,300
TOTAL INVESTMENTS — 101.0% (Cost $9,871,140,741)(a)				11,434,369,488
LIABILITIES IN EXCESS OF OTHER ASSETS — (1.0)%				(115,893,443	)
NET ASSETS — 100.0%			$	11,318,476,045

(a)	Cost for federal income tax purposes is $9,889,901,500 and net unrealized appreciation of investments is as follows:

Unrealized appreciation	$	1,693,876,669
Unrealized depreciation		(149,408,681	)
Net unrealized appreciation	$	1,544,467,988

(b)	Non-income producing security.

(c)	The rate represents the annualized yield at time of purchase.
(d)	Rate shown represents current yield at April 30, 2014.
(e)	This security is considered either fully or partially illiquid. These securities, or portions thereof have a value of $1,056,226,798 or 9.34% of net assets.

ADR-American Depositary Receipt

Portfolio diversification by Sector (Unaudited)

Sector	Percentage of Net Assets
Banks		6.0	%
Consumer Discretionary		15.6	%
Consumer Staples		11.4	%
Diversified Financials		5.6	%
Energy		7.5	%
Health Care		11.9	%
Industrials		10.2	%
Information Technology		15.8	%
Insurance		1.7	%
Materials		1.7	%
Telecommunication Services		2.2	%
Other*		10.4	%
		100.0	%

*	Includes cash and equivalents, exchange traded funds, U.S. government agencies, pending trades and Fund share transactions, interest and dividends receivable, prepaids and accrued expenses payable.

Shares			Percentage of Net Assets (%)		Value
COMMON STOCKS — 89.0%
ARGENTINA — 0.0%
	40,600	Other Securities		0.0	$	369,866
AUSTRALIA — 1.9%
	58,135,685	Other Securities		1.9		132,837,360
AUSTRIA — 0.2%
	401	AMAG Austria Metall AG(b)		0.0		13,791
	578,988	Other Securities		0.2		16,126,218
						16,140,009
BAHAMAS — 0.0%
	488	Other Securities		0.0		97,509
BELGIUM — 0.3%
	635,496	Other Securities		0.3		22,064,413
BERMUDA — 0.7%
	381,000	Endurance Specialty Holdings Ltd.		0.3		19,362,420
	1,242,905	Other Securities		0.4		27,303,246
						46,665,666
BRAZIL — 0.8%
	9,812,716	Other Securities		0.8		59,333,911
CAMBODIA — 0.0%
	248,000	Other Securities		0.0		225,194
CANADA — 2.4%
	14,381,636	Other Securities		2.4		170,693,874
CAYMAN ISLANDS — 0.0%
	119,054	Other Securities		0.0		145,842
CHILE — 0.1%
	57,330,182	Other Securities		0.1		5,672,175
CHINA — 1.2%
	144,802,556	Other Securities		1.2		86,356,556
COLUMBIA — 0.0%
	152,173	Other Securities		0.0		2,483,805
CYPRUS — 0.0%
	476,416	Other Securities		0.0		721,059
DENMARK — 0.7%
	561,699	Chr. Hansen Holding A/S		0.4		25,318,217
	728,497	Other Securities		0.3		23,567,600
						48,885,817
FAEROE ISLANDS — 0.0%
	8,468	Other Securities		0.0		138,072
FINLAND — 0.5%
	2,553,656	Other Securities		0.5		34,611,284
FRANCE — 2.3%
	4,324,310	Other Securities		2.3		159,277,533
GABON — 0.0%
	55	Other Securities		0.0		33,460

Shares			Percentage of Net Assets (%)		Value
GEORGIA — 0.0%
	7,118	Other Securities		0.0	$	312,828
GERMANY — 2.8%
	155,898	Bilfinger SE		0.3		18,520,457
	222,654	MTU Aero Engines AG		0.3		20,952,582
	483,853	Symrise AG(c)		0.3		24,417,526
	3,245,506	Other Securities		1.9		130,837,640
						194,728,205
GIBRALTAR — 0.0%
	190,191	Other Securities		0.0		416,119
GREECE — 0.0%
	381,088	Other Securities		0.0		2,509,979
GUERNSEY — 0.1%
	1,039,804	Other Securities		0.1		4,765,423
HONG KONG — 1.3%
	339,158,722	Other Securities		1.3		94,333,411
HUNGARY — 0.0%
	24,646	Other Securities		0.0		35,112
INDIA — 1.1%
	21,513,238	Other Securities		1.1		75,091,104
INDONESIA — 0.4%
	324,050,671	Other Securities		0.4		27,761,526
IRELAND — 0.5%
	4,535,717	Other Securities		0.5		36,554,581
ISLE OF MAN — 0.0%
	21,606	Other Securities		0.0		48,752
ISRAEL — 1.9%
	1,812,500	Check Point Software Technologies Ltd.(d)		1.6		116,108,750
	2,305,670	Other Securities		0.3		19,068,682
						135,177,432
ITALY — 0.7%
	8,042,896	Other Securities		0.7		47,240,966
JAPAN — 4.4%
	45,274,272	Other Securities		4.4		309,085,167
JERSEY CHANNEL ISLANDS — 0.0%
	611,113	Other Securities		0.0		2,364,463
LIECHTENSTEIN — 0.0%
	1,465	Other Securities		0.0		118,212
LUXEMBOURG — 0.3%
	2,734,415	AZ Electronic Materials SA(c)		0.3		18,587,083
	430,388	Other Securities		0.0		2,134,605
						20,721,688
MALAYSIA — 0.7%
	50,293,735	Other Securities		0.7		46,382,388
MALTA — 0.0%
	18,375	Other Securities		0.0		495,325

Shares			Percentage of Net Assets (%)		Value
MEXICO — 0.5%
	13,926,771	Other Securities		0.5	$	33,385,687
MONGOLIA — 0.0%
	274,500	Other Securities		0.0		22,660
NETHERLANDS — 1.1%
	480,476	Koninklijke Boskalis Westminster NV		0.4		27,216,752
	2,233,413	Other Securities		0.7		46,598,296
						73,815,048
NEW ZEALAND — 0.4%
	8,299,317	Other Securities		0.4		28,067,796
NORWAY — 0.2%
	3,667,503	Other Securities		0.2		15,174,013
PERU — 0.1%
	3,320,172	Other Securities		0.1		4,372,044
PHILIPPINES — 0.2%
	49,353,915	Other Securities		0.2		15,715,022
POLAND — 0.1%
	2,343,753	Other Securities		0.1		10,049,641
PORTUGAL — 0.1%
	6,282,821	Other Securities		0.1		6,110,549
QATAR — 0.1%
	136,557	Other Securities		0.1		3,375,621
SINGAPORE — 1.6%
	12,858,000	CapitaMall Trust REIT		0.3		20,460,804
	4,621,000	SIA Engineering Co. Ltd.(c)		0.3		17,655,412
	55,741,094	Other Securities		1.0		71,888,149
						110,004,365
SOUTH AFRICA — 0.5%
	7,128,982	Other Securities		0.5		36,059,485
SOUTH KOREA — 1.4%
	5,094,582	Other Securities		1.4		99,479,848
SPAIN — 0.6%
	5,457,172	Other Securities		0.6		40,622,588
SWEDEN — 0.8%
	3,423,203	Other Securities		0.8		59,401,867
SWITZERLAND — 1.6%
	178,000	Allied World Assurance Co. Holdings AG		0.3		19,168,820
	2,164,947	Other Securities		1.3		94,657,304
						113,826,124
TAIWAN — 1.2%
	105,893,504	Other Securities		1.2		85,729,177
THAILAND — 0.3%
	73,671,827	Other Securities		0.3		21,772,215
TURKEY — 0.1%
	6,097,576	Other Securities		0.1		9,665,567

Shares			Percentage of Net Assets (%)		Value
UNITED ARAB EMIRATES — 0.1%
	939,239	Other Securities		0.1	$	4,989,369
UNITED KINGDOM — 7.8%
	1,307,376	Bodycote Plc(c)		0.2		16,124,778
	657,578	Croda International Plc(c)		0.4		28,600,008
	1,070,000	Ensco Plc - Class A		0.8		53,981,500
	530,259	Rotork Plc(c)		0.3		23,196,822
	606,745	Victrex Plc(c)		0.3		19,064,508
	56,130,390	Other Securities		5.8		409,118,713
						550,086,329
UNITED STATES — 44.9%
	604,000	Actuant Corp. - Class A		0.3		20,451,440
	1,250,407	Advance Auto Parts, Inc.		2.1		151,661,865
	910,000	Albemarle Corp.		0.9		61,006,400
	1,375,000	AmerisourceBergen Corp.		1.3		89,622,500
	131,000	Bio-Rad Laboratories, Inc. - Class A(d)		0.2		16,140,510
	2,870,200	CareFusion Corp.(d)		1.6		112,110,012
	422,100	Cepheid, Inc.(d)		0.3		18,352,908
	381,000	CLARCOR, Inc.		0.3		22,006,560
	2,510,000	Crown Holdings, Inc.(c)(d)		1.7		118,396,700
	570,000	CST Brands, Inc.		0.3		18,599,100
	789,000	Energizer Holdings, Inc.		1.2		88,123,410
	164,000	Esterline Technologies Corp.(d)		0.2		17,879,280
	1,150,000	Flowserve Corp.		1.2		84,007,500
	1,910,000	Generac Holdings, Inc.(c)		1.6		112,460,800
	563,519	Henry Schein, Inc.(d)		0.9		64,370,775
	860,500	Hubbell, Inc. - Class B(c)		1.4		101,298,060
	291,000	John Wiley & Sons, Inc. - Class A		0.2		16,720,860
	635,305	MSC Industrial Direct Co., Inc. - Class A		0.8		57,850,873
	1,905,746	NetApp, Inc.		1.0		67,863,615
	1,324,200	Omnicom Group, Inc.		1.3		89,621,856
	1,696,000	PetSmart, Inc.		1.6		114,785,280
	1,000,000	Rockwell Collins, Inc.		1.1		77,650,000
	29,636,600	Samsonite International SA(c)		1.3		94,036,510
	400,000	Sensient Technologies Corp.		0.3		21,620,000
	950,000	Snap-on, Inc.(c)		1.6		110,200,000
	265,000	TreeHouse Foods, Inc.(d)		0.3		19,832,600
	515,000	TriMas Corp.(c)(d)		0.3		18,467,900
	1,629,690	Tupperware Brands Corp.(c)		2.0		138,376,978
	350,000	UMB Financial Corp.(c)		0.3		20,548,500
	3,475,000	Vantiv, Inc. - Class A(c)(d)		1.5		106,856,250
	1,645,000	Varian Medical Systems, Inc.(c)(d)		1.9		130,859,750
	1,750,000	Waste Connections, Inc.(c)		1.1		78,155,000
	956,351	Waters Corp.(c)(d)		1.3		94,238,828
	1,695,000	Wyndham Worldwide Corp.		1.7		120,921,300
	25,704,850	Other Securities		9.8		687,122,673
						3,162,216,593
Total Common Stocks (Cost $4,613,689,260)						6,268,837,694

Shares			Percentage of Net Assets (%)		Value
INVESTMENT COMPANY — 0.3%
	23,517,099	SEI Daily Income Trust Government II Fund, Class A, 0.01%(e)		0.3	$	23,517,099
Total Investment Company (Cost $23,517,099)						23,517,099

EXCHANGE TRADED FUNDS — 9.4%
	1,825,000	iShares Core S&P Small Cap ETF		2.8		195,512,250
	3,433,100	iShares MSCI EAFE Small Cap Index Fund		2.6		178,589,862
	234,861	iShares MSCI Japan Small Cap Index Fund		0.2		12,122,351
	95,000	iShares Russell Mid-Cap ETF		0.2		14,619,550
	196,000	SPDR Russell Nomura Small Cap Japan Fund		0.1		9,323,720
	2,354,800	SPDR S&P International Small Cap Fund		1.1		79,780,624
	160,000	SPDR S&P MidCap 400 ETF Trust		0.6		39,475,200
	400,000	Vanguard Small-Cap ETF		0.6		44,076,000
	1,693,500	WisdomTree Japan Hedged Equity Fund		1.1		78,053,415
	160,000	WisdomTree Japan Small Cap Dividend Fund		0.1		7,912,000
Total Exchange Traded Funds (Cost $603,921,916)						659,464,972
RIGHTS/WARRANTS — 0.0%
	2,640,261	Other Rights/Warrants		0.0		1,321,714
Total Rights/Warrants (Cost $635,248)						1,321,714

Principal Amount
U.S. GOVERNMENT AGENCIES — 0.2%

Federal Home Loan Bank — 0.2%
$	16,000,000	0.01%, 05/02/2014(f)		0.2		15,999,996
Total U.S. Government Agencies (Cost $15,999,996)						15,999,996

Shares			Percentage of Net Assets (%)		Value
CASH SWEEP — 0.7%
	45,212,276	Citibank - US Dollars on Deposit in Custody Account, 0.02%(e)		0.7	$	45,212,276
Total Cash Sweep (Cost $45,212,276)						45,212,276
TOTAL INVESTMENTS — 99.6% (Cost $5,302,975,795)(a)					$	7,014,353,751
OTHER ASSETS IN EXCESS OF LIABILITIES — 0.4%						28,220,366
NET ASSETS — 100.0%					$	7,042,574,117


(a)	Cost for federal income tax purposes is $5,307,296,900 and net unrealized appreciation of investments is as follows:

Unrealized appreciation	$	1,823,679,878
Unrealized depreciation		(116,623,027	)
Net unrealized appreciation	$	1,707,056,851

(b)	Security exempt from registration under Rule 144A of the Securities Act of 1933, as amended. The security may be resold in transactions exempt from registration normally to qualified institutional buyers. The security has been determined to be liquid in accordance with procedures adopted by the Fund’s Board of Directors. The aggregate value of these securities is $13,791,which is less than 0.01% of net assets.
(c)	This security is considered either fully or partially illiquid. These securities, or portions thereof, have a value of $767,868,391 or 10.91% of net assets.
(d)	Non-income producing security.
(e)	Rate shown represents current yield at April 30, 2014.
(f)	The rate represents the annualized yield at time of purchase.

	This Condensed Portfolio of Investments does not reflect the complete portfolio holdings of the Fund. It includes the Fund’s 50 largest holdings and each investment of any issuer that exceeds 1% of the Fund’s net assets. “Other Securities” represent all issues not required to be disclosed under the rules adopted by the U.S. Securities and Exchange Commission (“SEC”). The complete Portfolio of Investments is available (i) without charge, upon request, by calling (800) 607-2200; and (ii) on the SEC’s website at http://www.sec.gov.

	Common stocks and Rights with a value of $4,006,619 (cost of $6,954,135) or 0.06% of net assets were fair valued by the Board of Directors.

REIT — Real Estate Investment Trust

Portfolio diversification by Sector (Unaudited)

Sector	Percentage of Net Assets
Banks		2.6	%
Consumer Discretionary		16.9	%
Consumer Staples		5.4	%
Diversified Financials		1.2	%
Energy		3.5	%
Health Care		11.8	%
Industrials		22.8	%
Information Technology		10.1	%
Insurance		2.2	%
Materials		8.6	%
Real Estate		2.3	%
Telecommunication Services		0.6	%
Utilities		1.0	%
Other*		11.0	%
Total		100.0	%


*	Includes cash and equivalents, exchange traded funds, rights/warrants, U.S. government agencies, investment companies, pending trades and Fund share transactions, interest and dividends receivable, prepaids and accrued expenses payable.

Shares			Value
COMMON STOCKS — 18.2%
AUSTRALIA — 0.2%
	287,310	BC Iron Ltd.	$	1,166,397
	157,217	BHP Billiton Ltd.		5,513,543
	1,539,440	Mount Gibson Iron Ltd.		1,043,999
	532,880	PanAust Ltd.		794,545
	337,010	RCR Tomlinson Ltd.		854,712
	1,833,740	Resolute Mining Ltd.(b)		1,030,641
				10,403,837
AUSTRIA — 0.1%
	111,850	OMV AG		5,231,719
BERMUDA — 0.4%
	23,239	Arch Capital Group Ltd.(b)		1,332,059
	28,625	Aspen Insurance Holdings Ltd.		1,310,452
	48,420	Axis Capital Holdings Ltd.		2,215,215
	29,490	Everest Re Group Ltd.		4,660,305
	128,430	Nabors Industries Ltd.		3,277,534
	79,738	RenaissanceRe Holdings Ltd.		8,070,283
	3,000	Seadrill Ltd.		105,660
	46,500	Validus Holdings Ltd.		1,723,755
				22,695,263
BRAZIL — 0.1%
	76,660	Anhanguera Educacional Participacoes SA		474,451
	29,180	Cia Hering		311,201
	49,470	Equatorial Energia SA		453,933
	117,830	Even Construtora e Incorporadora SA		383,123
	103,780	Tim Participacoes SA		559,916
	27,290	Tractebel Energia SA		400,951
				2,583,575
CANADA — 0.3%
	82,270	Bank of Montreal		5,670,817
	124,690	BCE, Inc.		5,551,637
	123,017	Imperial Oil Ltd.		6,006,906
				17,229,360
CHINA — 0.1%
	903,500	Asia Cement China Holdings Corp.		657,265
	662,000	Beijing Capital International Airport Co. Ltd. - H Shares		459,381
	1,125,000	China Molybdenum Co. Ltd. - H Shares		500,616
	322,728	Huaxin Cement Co. Ltd. - B Shares		491,515
	227,000	Inner Mongolia Yitai Coal Co. Ltd. - B Shares		285,339
	139,640	Nam Tai Property, Inc.		964,912
	6,622,000	Semiconductor Manufacturing International Corp.(b)		538,100
	1,178,000	Shenzhen Expressway Co. Ltd. - H Shares		537,875
	527,000	SOHO China Ltd.		419,400

Shares			Value
CHINA (continued)
	784,000	Weiqiao Textile Co. - H Shares	$	436,850
	856,000	Xinhua Winshare Publishing and Media Co. Ltd. - H Shares		542,111
				5,833,364
FINLAND — 0.2%
	232,360	Neste Oil Oyj		4,770,988
	106,075	Sampo Oyj - A Shares		5,266,959
				10,037,947
FRANCE — 0.1%
	337,630	UBISOFT Entertainment(b)		6,290,748
GERMANY — 0.1%
	835,610	Balda AG(c)		3,890,548
	14,968	Volkswagen AG		3,997,420
				7,887,968
GREECE — 0.2%
	491,740	Aegean Marine Petroleum Network, Inc.		4,538,760
	722,180	Navios Maritime Holdings, Inc.		5,683,557
				10,222,317
GUERNSEY — 0.1%
	143,685	Amdocs Ltd.		6,685,663
HONG KONG — 0.6%
	350,799	Cheung Kong Holdings Ltd.		5,972,626
	2,236,000	China Lumena New Materials Corp.		360,508
	700,200	China Mobile Ltd.		6,656,143
	2,754,000	China Vanadium Titano - Magnetite Mining Co. Ltd.(b) .		337,459
	2,382,000	CSPC Pharmaceutical Group Ltd.		1,981,684
	2,038,800	Guangdong Investment Ltd.		2,216,844
	1,587,200	Link REIT (The)		7,892,036
	1,516,067	MTR Corp Ltd.		5,719,753
	349,000	Shanghai Industrial Holdings Ltd.		1,080,363
				32,217,416
INDIA — 0.0%
	86,410	Cairn India Ltd.(b)		480,151
	83,650	GAIL India Ltd.(b)		513,286
				993,437
INDONESIA — 0.0%
	51,659,000	Energi Mega Persada Tbk PT(b)		420,010
IRELAND — 0.1%
	7,093	Accenture Plc - Class A		569,000
	69,278	Seagate Technology Plc		3,642,637
	67,300	XL Group Plc		2,109,855
				6,321,492

Shares			Value
ITALY — 0.4%
	419,120	ASTM SpA(c)	$	7,099,688
	8,686,850	Banca Carige SpA(b)		6,411,493
	36,300	DiaSorin SpA		1,496,720
	4,222,210	Saras SpA(b)(c)		7,322,090
				22,329,991
JAPAN — 1.5%
	219,000	Aichi Steel Corp.		805,438
	31,000	Alfresa Holdings Corp.		1,928,498
	4,598,900	ANA Holdings, Inc.		10,031,346
	57,000	As One Corp.(c)		1,495,320
	52,000	Daikoku Denki Co. Ltd.		927,236
	47,000	East Japan Railway Co.		3,426,331
	39,000	Exedy Corp.		1,040,661
	420,200	Fuji Oil Co. Ltd.(c)		2,107,120
	65,000	Fuji Soft, Inc.		1,358,048
	33,500	Hisamitsu Pharmaceutical Co., Inc.		1,402,455
	348,463	House Foods Group, Inc.		5,794,367
	112,000	Information Services International-Dentsu Ltd.(c)		1,401,164
	85,800	Kewpie Corp.		1,232,848
	432,000	Kyokuyo Co. Ltd.		1,115,548
	53,800	McDonald’s Holdings Co. Japan Ltd.		1,488,729
	106,000	Moshi Moshi Hotline, Inc.		1,072,079
	863,000	Nippon Coke & Engineering Co. Ltd.		1,004,519
	48,600	Nitori Holdings Co. Ltd.		2,227,134
	82,700	Nomura Research Institute Ltd.		2,390,360
	302,000	Otsuka Holdings Co. Ltd.		8,693,559
	212,900	Rengo Co. Ltd.		951,683
	73,600	Rohto Pharmaceutical Co. Ltd.		1,297,998
	202,000	Round One Corp.		1,448,291
	66,000	Ryosan Co. Ltd.		1,393,789
	57,600	Sawai Pharmaceutical Co. Ltd.		3,566,372
	809,000	Seikitokyu Kogyo Co. Ltd.(b)		989,143
	739,700	Sumitomo Osaka Cement Co. Ltd.		2,937,528
	991,000	Tokyo Gas Co. Ltd.		5,185,944
	501,200	TonenGeneral Sekiyu KK		4,730,846
	122,000	Toppan Forms Co. Ltd.		1,121,729
	247,000	Toshiba Machine Co. Ltd.		1,106,529
	40,000	Trancom Co. Ltd.		1,406,563
	79,100	West Japan Railway Co.		3,205,471
	33,700	Wowow, Inc.		1,130,640
				81,415,286
MALAYSIA — 0.2%
	555,000	Faber Group Berhad		504,777
	924,288	Public Bank Berhad		5,700,554
	2,256,100	TA Enterprise Berhad		559,621
	1,742,500	Telekom Malaysia Berhad		3,308,375
				10,073,327

Shares			Value
NETHERLANDS — 0.1%
	141,038	Unilever NV	$	6,043,228
NEW ZEALAND — 0.2%
	1,005,310	Air New Zealand Ltd.		1,820,443
	1,608,712	Auckland International Airport Ltd.		5,507,147
	137,310	Ebos Group Ltd.		1,112,981
				8,440,571
PHILIPPINES — 0.0%
	1,073,000	First Gen Corp.		457,313
POLAND — 0.0%
	13,780	Lubelski Wegiel Bogdanka SA		563,234
	291,770	Synthos SA		458,714
				1,021,948
PUERTO RICO — 0.0%
	21,947	Popular, Inc.(b)		678,162
SINGAPORE — 0.2%
	5,029,550	Singapore Post Ltd.		5,676,648
	1,689,121	Singapore Press Holdings Ltd.		5,645,224
				11,321,872
SOUTH KOREA — 0.2%
	79,440	Iljin Display Co. Ltd.		1,064,787
	69,140	Jahwa Electronics Co. Ltd.		1,234,523
	44,110	LG Fashion Corp.		1,144,051
	835,990	Meritz Securities Co. Ltd.		1,832,495
	15,390	Samsung Electro-Mechanics Co. Ltd.		985,985
	68,950	Sebang Co. Ltd.(c)		1,194,430
	45,760	Silla Co. Ltd.(c)		1,100,490
	84,990	Sungwoo Hitech Co. Ltd.		1,369,480
				9,926,241
SWEDEN — 0.3%
	156,225	Investor AB - B Shares		6,042,661
	124,316	Lundbergforetagen AB(c)		5,802,637
	1,669,680	SAS AB(b)		3,569,338
				15,414,636
SWITZERLAND — 0.4%
	55,138	ACE Ltd.		5,641,720
	45,600	Allied World Assurance Co. Holdings AG		4,910,664
	65,952	Swiss Prime Site AG		5,541,587
	9,446	Swisscom AG		5,742,086
				21,836,057
TAIWAN — 0.1%
	818,000	Accton Technology Corp.		486,228
	724,000	Ardentec Corp.		613,763
	766,000	China General Plastics Corp.		386,830
	25,260	ChipMOS TECHNOLOGIES Bermuda Ltd.		531,470
	873,500	Chunghwa Telecom Co. Ltd.		2,724,806
	430,000	Gemtek Technology Corp.		388,022

Shares			Value
TAIWAN (continued)
	199,000	Huang Hsiang Construction Co.	$	302,474
	428,000	ITEQ Corp.		493,225
	182,000	Realtek Semiconductor Corp.		518,915
	322,000	Test Research, Inc.		539,546
	576,000	Test-Rite International Co. Ltd.		412,955
	193,000	Yungshin Construction & Development Co.		491,480
				7,889,714
THAILAND — 0.0%
	390,800	Bangchak Petroleum Public Co. Ltd.		386,452
TURKEY — 0.0%
	111,940	Aksa Akrilik Kimya Sanayii		389,117
	104,030	Aygaz AS		428,624
	168,310	Park Elektrik Uretim Madencilik Sanayi ve Ticaret AS(b)		314,054
	123,370	Turk Hava Yollari		394,377
				1,526,172
UNITED KINGDOM — 0.2%
	2,328,890	Afren Plc(b)		6,193,021
	89,200	Smith & Nephew Plc		1,384,808
	360,865	WM Morrison Supermarkets Plc.		1,224,046
				8,801,875
UNITED STATES — 11.8%
	40,469	3M Co.		5,628,833
	71,370	AAR Corp.		1,848,483
	71,000	Abbott Laboratories		2,750,540
	155,280	Abercrombie & Fitch Co. - Class A		5,708,093
	143,130	Aceto Corp.		3,131,684
	21,181	Acorda Therapeutics, Inc.(b)		750,866
	8,169	Aflac, Inc.		512,360
	6,178	Alliant Techsystems, Inc.		890,991
	198,180	Alon USA Energy, Inc.		3,228,352
	107,190	Ambac Financial Group, Inc.(b).		3,234,994
	42,800	American Equity Investment Life Holding Co.		998,096
	39,200	American Financial Group, Inc.		2,290,456
	475,000	American International Group, Inc.		25,236,750
	100,000	American Public Education, Inc.(b)		3,460,000
	10,977	AmerisourceBergen Corp.		715,481
	23,600	Amgen, Inc.		2,637,300
	15,279	Andersons, Inc. (The)		951,729
	51,500	Apple, Inc.		30,389,635
	82,550	AptarGroup, Inc.		5,565,521
	117,228	Arthur J Gallagher & Co.		5,277,605
	42,907	Associated Banc-Corp.		753,018
	51,659	Assurant, Inc.		3,482,333
	43,050	Atlantic Tele-Network, Inc.		2,547,268
	70,103	Automatic Data Processing, Inc.		5,465,230
	9,483	AutoNation, Inc.(b)		502,504

Shares			Value
UNITED STATES (continued)
	462,500	Bank of America Corp.	$	7,002,250
	46,737	Becton Dickinson and Co.		5,282,683
	92,260	Benchmark Electronics, Inc.(b) .		2,138,587
	350,000	Blucora, Inc.(b)		6,737,500
	5,267	Boeing Co. (The)		679,548
	257,920	Brocade Communications Systems, Inc.(b)		2,401,235
	21,638	CA, Inc.		652,169
	15,434	CACI International, Inc. - Class A(b)		1,074,978
	53,814	Cadence Design Systems, Inc.(b)		837,346
	14,000	Campbell Soup Co.		636,860
	14,674	CareFusion Corp.(b)		573,166
	18,000	CBOE Holdings, Inc.		960,480
	9,712	CBS Corp.		560,965
	40,810	Celanese Corp.		2,506,958
	28,559	CF Industries Holdings, Inc.		7,001,810
	47,116	Chevron Corp.		5,914,000
	24,030	Churchill Downs, Inc.		2,110,555
	14,150	Cintas Corp.		833,860
	430,500	Cirrus Logic, Inc.(b)		9,600,150
	71,912	Cisco Systems, Inc.		1,661,886
	200,000	Citigroup, Inc.		9,582,000
	60,683	Clorox Co. (The)		5,503,948
	147,840	CNO Financial Group, Inc.		2,550,240
	278,938	Coca-Cola Co. (The)		11,377,881
	12,174	Cognizant Technology Solutions Corp. - Class A(b)		583,195
	35,860	Coherent, Inc.(b)		2,141,201
	85,303	Colgate-Palmolive Co.		5,740,892
	15,299	Comerica, Inc.		738,024
	40,060	Computer Sciences Corp.		2,370,751
	57,218	Consolidated Edison, Inc.		3,320,361
	4,503	Cooper Cos., Inc. (The)		593,991
	75,307	Covidien Plc		5,365,624
	30,900	CR Bard, Inc.		4,243,497
	4,703	Cracker Barrel Old Country Store, Inc.		445,562
	63,169	Crestwood Equity Partners LP(b)		891,315
	8,356	CVS Caremark Corp.		607,648
	118,200	CYS Investments, Inc., REIT		1,016,520
	69,956	Danaher Corp.		5,133,371
	50,161	Delek US Holdings, Inc.		1,604,650
	21,284	Delta Air Lines, Inc.		783,890
	52,090	Deluxe Corp.		2,862,345
	115,631	DENTSPLY International, Inc.		5,160,612
	25,600	Dillard’s, Inc. - Class A		2,507,008
	30,720	DineEquity, Inc.		2,328,883
	25,900	Dolby Laboratories, Inc. - Class A(b)		1,032,115
	120,600	Dollar Tree, Inc.(b)		6,279,642
	46,140	Dr Pepper Snapple Group, Inc.		2,557,079
	74,540	DTE Energy Co.		5,824,556
	26,051	East West Bancorp, Inc.		899,020

Shares			Value
UNITED STATES (continued)
	127,300	El Paso Pipeline Partners LP	$	4,143,615
	11,670	EnerSys, Inc.		788,659
	56,814	Exxon Mobil Corp.		5,818,322
	103,900	Family Dollar Stores, Inc.		6,104,125
	77,670	FBR & Co.(b)		2,003,886
	34,100	Fidelity National Information Services, Inc.		1,821,963
	155,121	Fifth Third Bancorp		3,197,044
	57,953	First Niagara Financial Group, Inc.		516,941
	350,000	Francesca’s Holdings Corp.(b)		5,726,000
	101,245	Franklin Resources, Inc.		5,300,176
	275,000	GameStop Corp. - Class A		10,912,000
	1,725,000	General Motors Co., Escrow Shares(b)(c)(d)		258,750
	46,259	Genworth Financial, Inc. - Class A(b)		825,723
	134,390	Green Plains Renewable Energy, Inc.		4,018,261
	36,440	Harris Corp.		2,679,069
	329,900	Hatteras Financial Corp., REIT		6,456,143
	16,007	HealthSouth Corp.		554,482
	14,482	Heartland Payment Systems, Inc.		592,893
	11,784	Helmerich & Payne, Inc.		1,280,332
	103,260	hhgregg, Inc.(b)		890,101
	51,360	HollyFrontier Corp.		2,701,022
	118,396	Hormel Foods Corp.		5,646,305
	70,753	Huntington Bancshares, Inc.		648,097
	57,400	IAC/InterActiveCorp.		3,804,472
	15,159	Iconix Brand Group, Inc.(b)		644,258
	326,200	Inteliquent, Inc.		4,449,368
	71,040	Inter Parfums, Inc.		2,599,354
	20,592	InterDigital, Inc.		714,954
	29,108	International Business Machines Corp.		5,718,849
	11,018	j2 Global, Inc.		510,794
	31,253	Jack Henry & Associates, Inc.		1,723,915
	12,438	Jack in the Box, Inc.(b)		665,931
	20,751	JPMorgan Chase & Co.		1,161,641
	45,079	Key Corp.		614,878
	140,601	Kimberly-Clark Corp.		15,782,462
	6,900	Kirby Corp.(b)		694,278
	130,890	Knight Transportation, Inc.		3,106,020
	13,141	Kroger Co. (The)		605,012
	47,108	L-3 Communications Holdings, Inc.		5,434,850
	17,578	Lear Corp.		1,460,029
	25,380	Lindsay Corp.		2,236,739
	388,400	Liquidity Services, Inc.(b)		6,699,900
	39,400	Lorillard, Inc.		2,341,148
	150,000	Lowe’s Cos, Inc.		6,886,500
	100,750	M/I Homes, Inc.(b)		2,243,702
	11,307	Macy’s, Inc.		649,361
	13,600	Marathon Petroleum Corp.		1,264,120
	20,928	MB Financial, Inc.		561,708

Shares			Value
UNITED STATES (continued)
	49,310	MBIA, Inc.(b)	$	597,637
	55,823	McDonald’s Corp.		5,659,336
	66,560	MDC Holdings, Inc.		1,837,056
	94,001	Medtronic, Inc.		5,529,139
	62,500	Microsoft Corp.		2,525,000
	97,179	Molson Coors Brewing Co. - Class B		5,827,825
	111,840	Monarch Casino & Resort, Inc.(b)		1,793,914
	12,357	Mylan, Inc.(b)		627,488
	2,000	Myriad Genetics, Inc.(b)		84,420
	38,090	NACCO Industries, Inc. - Class A(c)		2,041,243
	6,653	New Media Investment Group, Inc.(b)		94,938
	183,070	New York Times Co. (The) - Class A		2,943,766
	92,159	Newcastle Investment Corp., REIT		413,794
	351,100	Newmont Mining Corp.		8,717,813
	21,020	Nexstar Broadcasting Group, Inc. - Class A		837,647
	152,760	Northern Oil and Gas, Inc.(b)		2,357,087
	21,550	Northrop Grumman Corp.		2,618,540
	5,810	Oil States International, Inc.(b)		564,383
	79,240	Olympic Steel, Inc.		2,088,766
	213,610	Orion Marine Group, Inc.(b)		2,505,645
	60,150	Owens & Minor, Inc.		2,017,431
	95,460	Patterson-UTI Energy, Inc.		3,105,314
	128,559	Paychex, Inc.		5,375,052
	158,600	Peabody Energy Corp.		3,014,986
	160,200	People’s United Financial, Inc.		2,287,656
	131,211	PepsiCo, Inc.		11,269,713
	250,000	Performant Financial Corp.(b)		2,177,500
	36,400	PetSmart, Inc.		2,463,552
	167,400	Pfizer, Inc.		5,236,272
	11,745	Phillips 66		977,419
	40,323	Pilgrim’s Pride Corp.(b)		881,461
	8,541	PNC Financial Services Group, Inc. (The)		717,786
	41,189	Praxair, Inc.		5,377,224
	7,500	Priceline Group, Inc. (The)(b)		8,683,125
	29,165	PrivateBancorp, Inc.		804,079
	67,340	Procter & Gamble Co. (The)		5,558,917
	9,817	Prosperity Bancshares, Inc.		579,203
	15,448	Protective Life Corp.		790,165
	38,495	Providence Service Corp. (The)(b)		1,563,282
	30,420	Quaker Chemical Corp.		2,264,161
	134,890	Regions Financial Corp.		1,367,785
	15,229	Reinsurance Group of America, Inc.		1,168,217
	68,770	REX American Resources Corp.(b)		4,494,807
	4,286	Rock Tenn Co. - Class A		409,784
	140,370	RPC, Inc.		3,120,425
	89,320	Sanderson Farms, Inc.		7,348,356

Shares			Value
UNITED STATES (continued)
	50,948	Sanmina Corp.(b)	$	1,031,697
	17,672	Savient Pharmaceuticals, Inc.(b)(c)(d)(e)		0
	63,690	ScanSource, Inc.(b)		2,446,333
	30,100	Scholastic Corp.		990,591
	6,656	Scripps Networks Interactive, Inc. - Class A		499,666
	45,000	Select Income REIT		1,385,100
	83,550	SLM Corp.		2,151,413
	127,153	Sonoco Products Co.		5,350,598
	43,800	Spectra Energy Partners LP(b)		2,384,910
	14,742	Spirit Airlines, Inc.(b)		837,935
	90,945	Standard Pacific Corp.(b)		726,651
	34,760	Sturm Ruger & Co., Inc.		2,236,806
	30,900	Sunoco Logistics Partners LP		2,810,664
	15,300	SunTrust Banks, Inc.		585,378
	70,626	Susquehanna Bancshares, Inc.		731,685
	31,503	Swift Transportation Co.(b)		757,647
	34,820	SYNNEX Corp.(b)		2,346,172
	327,736	Synovus Financial Corp.		1,052,033
	7,574	Thermo Fisher Scientific, Inc.		863,436
	261,265	TiVo, Inc.(b)		3,098,603
	8,552	Towers Watson & Co. - Class A .		959,705
	13,115	Trinity Industries, Inc.		984,412
	7,320	TRW Automotive Holdings Corp.(b)		588,162
	21,893	Twenty-First Century Fox, Inc.		701,014
	31,600	Tyson Foods, Inc. - Class A		1,326,252
	122,464	UGI Corp.		5,717,844
	43,916	Umpqua Holdings Corp.		730,323
	91,220	Unifi, Inc.(b)		2,019,611
	5,658	Union Pacific Corp.		1,077,453
	46,955	United Technologies Corp.		5,556,185
	11,773	United Therapeutics Corp.(b)		1,177,418
	9,946	Universal Corp.		542,753
	6,977	Universal Health Services, Inc. - Class B		570,649
	17,599	US Bancorp		717,687
	11,210	USANA Health Sciences, Inc.(b).		760,711
	176,047	Wal-Mart Stores, Inc.		14,032,706
	6,851	Waters Corp.(b)		675,098
	20,568	Webster Financial Corp.		619,920
	125,000	Weight Watchers International, Inc.		2,475,000
	46,086	WellPoint, Inc.		4,639,938
	29,798	Wells Fargo & Co.		1,479,173
	80,000	Werner Enterprises, Inc.		2,048,000
	155,114	Westar Energy, Inc.		5,565,490
	8,943	Western Digital Corp.		788,147
	45,423	Western Union Co. (The)		720,863
	3,670	White Mountains Insurance Group Ltd.		2,188,274
	15,092	Wintrust Financial Corp.		676,423
	180,329	Xcel Energy, Inc.		5,747,085
	71,711	Xerox Corp.		866,986
	33,167	Yahoo!, Inc.(b)		1,192,354

Shares			Value
UNITED STATES (continued)
	18,807	Zions Bancorp	$	543,898
				649,325,042
Total Common Stocks (Cost $905,831,075)				1,001,942,003
CLOSED-END FUNDS — 3.1%
UNITED STATES — 3.1%
	300,000	Apollo Tactical Income Fund, Inc.		5,403,000
	301,731	Ares Dynamic Credit Allocation Fund, Inc.		5,521,677
	180,000	Avenue Income Credit Strategies Fund		3,177,000
	77,600	Babson Capital Corporate Investors		1,182,624
	351,381	Babson Capital Global Short Duration High Yield Fund		8,535,044
	175,000	Babson Capital Participation Investors		2,271,500
	500,000	BlackRock Credit Allocation Income Trust		6,840,000
	1,500,000	BlackRock Debt Strategies Fund, Inc.		6,135,000
	611,295	ClearBridge Energy MLP Fund, Inc.		17,110,147
	602,620	Doubleline Income Solutions Fund		13,227,509
	200,000	DWS Multi-Market Income Trust		1,864,000
	251,762	Legg Mason BW Global Income Opportunities Fund, Inc.		4,428,494
	452,777	New America High Income Fund		4,514,187
	1,196,761	NexPoint Credit Strategies Fund.		13,260,112
	1,100,981	Nuveen Quality Preferred Income Fund		9,160,162
	860,000	PIMCO Dynamic Credit Income Fund		19,986,400
	100,000	Pimco Dynamic Income Fund		3,232,000
	250,000	Pioneer Floating Rate Trust		3,085,000
	252,545	Stone Harbor Emerging Markets Income Fund		4,919,577
	325,000	Tortoise Energy Infrastructure Corp.		15,502,500
	100,000	Tortoise Power and Energy Infrastructure Fund, Inc.		2,712,000
	1,253,541	Wells Fargo Advantage Income Opportunities Fund		11,933,710
	159,870	Western Asset Mortgage Defined Opportunity Fund		3,737,761
Total Closed-End Funds (Cost $161,781,447)				167,739,404
EXCHANGE TRADED FUNDS — 0.5%
UNITED STATES — 0.5%
	341,050	iShares MSCI Canada Index Fund		10,415,667

Shares				Value
UNITED STATES (continued)
	284,400		iShares MSCI Germany Index Fund	$	9,009,792
	80,000		ProShares Short VIX Short-Term Futures ETF(b)		5,136,000
	5,000		SPDR Gold Shares(b)		621,100
	48,100		WisdomTree Europe SmallCap Dividend Fund		3,003,364
Total Exchange Traded Funds (Cost $24,897,932)					28,185,923
PREFERRED STOCKS — 0.1%
UNITED STATES — 0.1%
	104,500		New York Community Capital Trust V		5,120,500
Total Preferred Stocks (Cost $5,090,925)					5,120,500

Contracts
CALL OPTIONS PURCHASED — 0.0%
	400		S&P 500 Index, Strike $1,940.00, Expires 06/21/14		268,000
	400		S&P 500 Index, Strike $1,980.00, Expires 06/21/14		66,000
	9,167		SPDR S&P 500 ETF Trust, Strike $195.00, Expires 06/30/14		641,690
Total Call Options Purchased (Cost $1,748,315)					975,690

Principal
Amount				Value
CORPORATE BONDS — 10.0%
AUSTRIA — 0.0%
$	5,218,800		A-TEC Industries AG, Cnv., 2.75%, 05/10/14(b)(c)(d)(e)		0
	8,000,000		A-TEC Industries AG, Cnv., 8.75%, 10/27/14(b)(c)(d)(e)		0
					0
BELGIUM — 0.1%
	5,000,000		Sofina SA, Cnv., 1.00%, 09/19/16(f)		5,197,500
BERMUDA — 0.2%
	7,000,000	(g)	Celestial Nutrifoods Ltd., Cnv., 15.75%, 06/12/12(b)(c)(d)(e)(h)		1,116,695
	1,375,000		Digicel Group Ltd., 7.13%, 04/01/22(f)		1,381,875
	4,000,000		Energy XXI Bermuda Ltd., Cnv., 3.00%, 12/15/18(i)		3,935,000
	6,300,000		Seadrill Ltd., 6.13%, 09/15/20(i)		6,300,000
					12,733,570

Principal
Amount				Value
BRAZIL — 0.0%
$	1,300,000		JBS SA, 10.50%, 08/04/16(f)	$	1,462,500
CAYMAN ISLANDS — 0.2%
	800,000		Anton Oilfield Services Group, 7.50%, 11/06/18(f)		860,000
	1,400,000		Country Garden Holdings Co. Ltd., 11.75%, 09/10/14(f)		1,443,400
	1,400,000		Fufeng Group Ltd., 7.63%, 04/13/16(f)		1,440,250
	1,000,000		JBS Finance II Ltd., 8.25%, 01/29/18(f)		1,070,000
	900,000		Lonking Holdings Ltd., 8.50%, 06/03/16(f)		934,875
	2,000,000		Siem Industries, Inc., Cnv., 1.00%, 09/12/19(f)		2,027,000
	330,000		TAM Capital 3, Inc., 8.38%, 06/03/21(f)		355,162
	2,000,000		UPCB Finance VI Ltd., 6.88%, 01/15/22(i)		2,180,000
					10,310,687
COLUMBIA — 0.0%
	1,300,000		Pacific Rubiales Energy Corp., 7.25%, 12/12/21(f)		1,420,250
CROATIA (HRVATSKA) — 0.0%
	1,100,000	(j)	Agrokor dd, 9.13%, 02/01/20(f)		1,735,918
FRANCE — 0.1%
	1,221,000	(k)	Numericable Group SA, 5.38%, 05/15/22(f)		1,755,357
	497,000	(k)	Numericable Group SA, 5.63%, 05/15/24(f)		716,237
					2,471,594
GERMANY — 0.0%
	575,000	(k)	Deutsche Raststaetten Gruppe IV GmbH, 6.75%, 12/30/20(f)		865,531
	425,000	(k)	Safari Holding Verwaltungs GmbH, 8.25%, 02/15/21(f)		630,896
					1,496,427
GREECE — 0.0%
	750,000		Aegean Marine Petroleum Network, Inc., Cnv., 4.00%, 11/01/18		730,781
HONG KONG — 0.0%
	9,700,000		China Milk Products Group Ltd., Cnv., 12.86%, 01/05/12(b)(c)(d)(e)(h)		1,133,154

Principal
Amount				Value
IRELAND — 0.2%
$	1,475,000	(k)	eircom Finance Ltd., 9.25%, 05/15/20(f)	$	2,273,992
	1,500,000		Nara Cable Funding Ltd., 8.88%, 12/01/18(f)		1,623,750
	4,700,000		Rosneft Oil Co. via Rosneft International Finance Ltd., 4.20%, 03/06/22(f)		3,918,625
					7,816,367
ISRAEL — 0.0%
	1,000,000		Israel Electric Corp Ltd., 6.70%, 02/10/17(f)		1,088,750
ITALY — 0.2%
	1,525,000	(l)	Enel SpA, 7.75%, 09/10/75(f)(m)		2,845,150
	1,250,000	(k)	Manutencoop Facility Management SpA, 8.50%, 08/01/20(f)		1,927,112
	950,000	(k)	Telecom Italia SpA, 6.38%, 06/24/19		1,749,134
	400,000	(k)	Telecom Italia SpA, 4.50%, 01/25/21(f)		586,272
	300,000	(k)	Telecom Italia SpA, 5.25%, 02/10/22(f)		453,653
					7,561,321
JAPAN — 0.1%
	1,475,000	(j)	SoftBank Corp., 4.63%, 04/15/20(f)		2,179,349
JERSEY CHANNEL ISLANDS — 0.1%
	1,225,000 (k)		Galaxy Bidco Ltd., 6.38%, 11/15/20(f)		2,125,157
LUXEMBOURG — 0.5%
	550,000	(k)	Altice Financing SA, 8.00%, 12/15/19(f)		839,345
	350,000	(k)	Altice Financing SA, 6.50%, 01/15/22(f)		515,920
	1,750,000	(k)	Befesa Zinc SAU Via Zinc Capital SA, 8.88%, 05/15/18(f)		2,592,709
	1,425,000	(k)	Cirsa Funding Luxembourg SA, 8.75%, 05/15/18(f)		2,056,049
	1,000,000		Cosan Luxembourg SA, 5.00%, 03/14/23(f)		950,000
	975,000	(k)	Fiat Finance & Trade SA, 6.75%, 10/14/19(f)		1,546,095
	1,425,000	(l)	Finmeccanica Finance SA, 8.00%, 12/16/19		2,814,970
	600,000	(k)	GCL Holdings SCA, 9.38%, 04/15/18(f)		896,920
	975,000	(k)	GCS Holdco Finance I SA, 6.50%, 11/15/18(f)		1,428,751
	201,000	(k)	Intralot Capital Luxembourg SA, 6.00%, 05/15/21		276,888

Principal
Amount				Value
LUXEMBOURG (continued)
$	650,000	(k)	Magnolia BC SA, 9.00%, 08/01/20(f)	$	962,736
	2,700,000		Severstal OAO Via Steel Capital SA, 6.70%, 10/25/17(f)		2,740,500
	4,000,000		Subsea 7 SA, Cnv., 1.00%, 10/05/17(f)		4,058,000
	1,400,000		Vimpel Communications OJSC Via UBS Luxembourg SA, 8.25%, 05/23/16(f)		1,473,500
	1,490,000	(k)	Wind Acquisition Finance SA, 7.38%, 02/15/18(f)		2,176,706
	125,000	(k)	Wind Acquisition Finance SA, 7.38%, 02/15/18(f)		182,956
	375,000		Wind Acquisition Finance SA, 6.50%, 04/30/20(i)		402,188
	812,000	(k)	Wind Acquisition Finance SA, 7.00%, 04/23/21(f)		1,165,954
	1,100,000	(k)	Xella Holdco Finance SA, 9.13% cash or 9.88% payment-in-kind interest, 09/15/18(f)(n)		1,642,446
					28,722,633
NETHERLANDS — 0.4%
	1,950,000	(k)	Cable Communications Systems NV, 7.50%, 11/01/20(f)		2,942,449
	1,450,000	(l)	EDP Finance BV, 8.63%, 01/04/24(f)		2,993,178
	450,000	(k)	Grupo Antolin Dutch BV, 4.75%, 04/01/21(f)		635,232
	525,000	(k)	Grupo Isolux Corsan Finance BV, 6.63%, 04/15/21(f)		731,999
	1,400,000		Indosat Palapa Co. BV, 7.38%, 07/29/20(f)		1,512,000
	650,000	(k)	Koninklijke KPN NV, 6.13%, 09/14/18(f)(m)		947,770
	2,600,000		Lukoil International Finance BV, 6.36%, 06/07/17(f)		2,739,750
	700,000		Marfrig Holding Europe BV, 9.88%, 07/24/17(f)		735,000
	1,375,000	(k)	Polish Television Holding BV, 11.00% Cash or 12.00% payment-in-kind interest, 01/15/21(f)(n)		2,241,433
	1,100,000	(k)	Telefonica Europe BV, 6.50%, 09/18/18(f)(m)		1,663,674
	1,400,000		VimpelCom Holdings BV, 6.25%, 03/01/17(f)		1,400,000
	3,000,000		VTR Finance BV, 6.88%, 01/15/24(i)		3,126,273

Principal
Amount				Value
NETHERLANDS (continued)
$	1,575,000	(k)	Ziggo Bond Co. BV, 8.00%, 05/15/18(f)	$	2,348,953
					24,017,711
POLAND — 0.0%
	345,000	(k)	Play Finance 1 SA, 6.50%, 08/01/19(f)		508,550
	950,000	(k)	Play Finance 2 SA, 5.25%, 02/01/19(f)		1,360,814
					1,869,364
PORTUGAL — 0.0%
	1,100,000	(k)	Brisa Concessao Rodoviaria SA, 6.88%, 04/02/18(f)		1,745,838
SINGAPORE — 0.0%
	1,400,000		STATS ChipPAC Ltd., 5.38%, 03/31/16(f)		1,428,000
SOUTH KOREA — 0.1%
	28,890,000	(k)	Export-Import Bank of Korea, 1.45%, 05/19/14(i)		4,444,089
SPAIN — 0.0%
	450,000	(k)	Abengoa Finance SAU, 6.00%, 03/31/21(f)		635,294
	1,175,000		Cemex Espana Luxembourg, 9.88%, 04/30/19(f)		1,344,200
					1,979,494
SWEDEN — 0.0%
	1,500,000		Eileme 2 AB, 11.63%, 01/31/20(f)		1,792,500
UNITED KINGDOM — 0.4%
	1,350,000	(k)	Arqiva Broadcast Finance Plc, 9.50%, 03/31/20(f)		2,609,830
	1,050,000	(k)	Bakkavor Finance 2 Plc, 8.75%, 06/15/20(f)		1,974,025
	500,000	(j)	Boparan Finance Plc, 9.75%, 04/30/18(f)		745,699
	1,150,000	(k)	Boparan Finance Plc, 9.88%, 04/30/18(f)		2,082,419
	925,000	(k)	Infinis Plc, 7.00%, 02/15/19(f)		1,690,607
	1,580,000	(j)	International Personal Finance Plc, 5.75%, 04/07/21(f)		2,220,439
	925,000	(k)	Jerrold Finco Plc, 9.75%, 09/15/18(f)		1,735,508
	1,050,000	(k)	Phones4u Finance Plc, 9.50%, 04/01/18(f)		1,850,637
	650,000	(k)	Premier Foods Plc, 6.50%, 03/15/21(f)		1,125,000
	950,000	(k)	Southern Water Greensands Financing Plc, 8.50%, 04/15/19(f)		1,760,359

Principal
Amount				Value
UNITED KINGDOM (continued)
$	457,000	(k)	Stonegate Pub Co. Financing Plc, 5.75%, 04/15/19(f)	$	785,098
	1,000,000		Vedanta Resources Plc, 6.75%, 06/07/16(f)		1,046,250
	725,000	(k)	Vougeot Bidco Plc, 7.88%, 07/15/20(f)		1,334,471
					20,960,342
UNITED STATES — 7.3%
	13,000,000		Alere, Inc., Cnv., 3.00%, 05/15/16		14,048,125
	3,000,000		AMAG Pharmaceuticals, Inc., Cnv., 2.50%, 02/15/19		3,007,500
	6,000,000		Ares Capital Corp., Cnv., 5.13%, 06/01/16		6,491,250
	5,000,000		Ares Capital Corp., Cnv., 4.38%, 01/15/19(i)		5,312,500
	5,000,000		BioMarin Pharmaceutical, Inc., Cnv., 1.50%, 10/15/20		5,150,000
	5,000,000		BlackRock Kelso Capital Corp., Cnv., 5.50%, 02/15/18		5,293,750
	4,000,000		Blucora, Inc., Cnv., 4.25%, 04/01/19(i)		4,432,500
	4,500,000		BroadSoft, Inc., Cnv., 1.50%, 07/01/18		4,620,938
	4,000,000		Cardtronics, Inc., Cnv., 1.00%, 12/01/20(i)		3,705,000
	3,950,000		CCO Holdings LLC/CCO Holdings Capital Corp., 7.25%, 10/30/17		4,182,062
	475,000 (j)		Cemex Finance LLC, 5.25%, 04/01/21(f)		677,112
	4,000,000		Chesapeake Energy Corp., Cnv., 2.50%, 05/15/37		4,080,000
	6,000,000		Ciena Corp. Cnv., 0.88%, 06/15/17		5,917,500
	9,000,000		Comtech Telecommunications Corp., Cnv., 3.00%, 05/01/29(c)		9,000,000
	750,000		Crown Media Holdings, Inc., 10.50%, 07/15/19		851,250
	2,000,000		DFC Global Corp., 3.25%, 04/15/17		1,922,500
	1,500,000		Emergent Biosolutions, Inc., Cnv., 2.88%, 01/15/21(i)		1,665,000
	5,000,000		Forest City Enterprises, Inc., Cnv., 4.25%, 08/15/18		5,590,625

Principal Amount				Value
UNITED STATES (continued)
$	3,000,000		Forest City Enterprises, Inc., Cnv., 3.63%, 08/15/20(i)	$	3,110,625
	4,000,000		General Cable Corp., Cnv.,STEP, 5.00%, 11/15/29		4,005,000
	3,200,000		Griffon Corp., Cnv., 4.00%, 01/15/17(i)		3,488,000
	17,500,000		Hologic, Inc., Cnv., STEP, 2.00%, 03/01/42		18,014,063
	10,000,000		Hologic, Inc., Cnv., STEP, 2.00%, 12/15/43		10,568,750
	4,000,000		HomeAway, Inc., Cnv., 0.13%, 04/01/19(i)		3,847,500
	2,000,000		Hornbeck Offshore Services, Inc., Cnv., 1.50%, 09/01/19		2,277,500
	17,000,000		Integra Lifesciences Holdings Corp., 1.63%, 12/15/16(c)		17,977,500
	2,000,000		InterDigital, Inc., Cnv., 2.50%, 03/15/16		2,073,750
	2,000,000		KB Home, Cnv., 1.38%, 02/01/19		1,970,000
	33,500,000		Liberty Interactive LLC, Cnv., 3.75%, 02/15/30		19,848,750
	5,000,000		Liberty Interactive LLC, Cnv., 1.00%, 09/30/43(i)		5,243,750
	14,500,000		Live Nation Entertainment, Inc., Cnv., 2.88%, 07/15/27		14,681,250
	4,000,000		Medidata Solutions, Inc., Cnv., 1.00%, 08/01/18(i)		4,062,500
	8,000,000		Meritor, Inc., Cnv., STEP, 4.00%, 02/15/27		8,165,000
	3,000,000		Molina Healthcare, Inc., Cnv., 1.13%, 01/15/20		3,388,125
	1,225,000	(j)	MPT Operating Partnership LP/MPT Finance Corp., REIT, 5.75%, 10/01/20		1,818,466
	17,000,000		Nuance Communications, Inc., Cnv., 2.75%, 11/01/31		17,085,000
	8,085,000		NuVasive, Inc., Cnv., 2.75%, 07/01/17		9,085,519
	4,000,000		NVIDIA Corp., Cnv., 1.00%, 12/01/18(i)		4,505,000
	9,000,000		Omnicare, Inc., Cnv., 3.25%, 12/15/35		9,450,000
	19,500,000		Owens-Brockway Glass Container, Inc., Cnv., 3.00%, 06/01/15(i)		19,950,938
	3,000,000		PDL BioPharma, Inc., Cnv., 4.00%, 02/01/18		3,206,250
	6,000,000		Prospect Capital Corp., Cnv., 5.50%, 08/15/16		6,337,500

Principal
Amount				Value
UNITED STATES (continued)
$	10,000,000		Prospect Capital Corp., Cnv., 5.75%, 03/15/18	$	10,612,500
	5,000,000		Prospect Capital Corp., Cnv., 4.75%, 04/15/20(i)		4,987,500
	7,000,000		Rovi Corp., Cnv., 2.63%, 02/15/40		7,100,625
	7,000,000		Royal Gold, Inc., Cnv., 2.88%, 06/15/19		7,214,375
	4,000,000		RTI International Metals, Inc., Cnv., 1.63%, 10/15/19		4,022,500
	3,000,000		Ryland Group, Inc. (The), Cnv., 0.25%, 06/01/19		2,790,000
	2,350,000		SEACOR Holdings, Inc., Cnv., 3.00%, 11/15/28(c)(i)		2,320,625
	3,000,000		ServiceSource International, Inc., Cnv, 1.50%, 08/01/18(i)		2,608,125
	12,000,000		ShengdaTech, Inc., Cnv., 6.50%, 12/15/15(b)(c)(d)(e)(i)		3,600,000
	8,900,000		Starwood Property Trust, Inc., Cnv., REIT, 4.55%, 03/01/18		10,246,125
	7,000,000		Starwood Property Trust, Inc., Cnv., REIT, 4.00%, 01/15/19		8,080,625
	13,000,000		TIBCO Software, Inc., 2.25%, 05/01/32		13,024,375
	7,300,000		Titan Machinery, Inc., Cnv., 3.75%, 05/01/19		6,382,937
	1,400,000	(l)	Virgin Media Secured Finance Plc, 6.00%, 04/15/21(f)		2,481,935
	14,000,000		Volcano Corp., Cnv., 1.75%, 12/01/17		13,422,500
	5,000,000		Walter Investment Management Corp., Cnv., 4.50%, 11/01/19		4,637,500
	5,000,000		WebMD Health Corp., Cnv., 2.25%, 03/31/16		5,075,000
	9,000,000		WebMD Health Corp., Cnv., 2.50%, 01/31/18		9,202,500
	3,000,000		WebMD Health Corp., Cnv., 1.50%, 12/01/20(i)		3,180,000
					401,098,095
VENEZUELA — 0.1%
	1,450,000		Petroleos de Venezuela SA, 4.90%, 10/28/14		1,405,050

Principal
Amount				Value
VENEZUELA (continued)
$	1,550,000		Petroleos de Venezuela SA, 5.00%, 10/28/15	$	1,393,063
					2,798,113
Total Corporate Bonds (Cost $548,128,983)					550,319,504
GOVERNMENT BONDS — 4.9%
BRAZIL — 0.3%
	9,490,000	(k)	Brazil Notas do Tesouro Nacional, Series B, 6.00%, 05/15/15		10,733,244
	2,400,000	(k)	Brazil Notas do Tesouro Nacional, Series B, 6.00%, 05/15/45		2,502,167
	3,900,000	(k)	Brazil Notas do Tesouro Nacional, Series F, 10.00%, 01/01/17		1,718,620
					14,954,031
HUNGARY — 0.4%
	402,550,000	(k)	Hungary Government Bond, 6.75%, 08/22/14		1,842,294
	61,000,000	(k)	Hungary Government Bond, 8.00%, 02/12/15		286,757
	108,050,000	(k)	Hungary Government Bond, 7.75%, 08/24/15		519,567
	96,000,000	(k)	Hungary Government Bond, 5.50%, 02/12/16		451,594
	22,320,000	(k)	Hungary Government Bond, 5.50%, 12/22/16		106,277
	127,110,000	(k)	Hungary Government Bond, 6.75%, 02/24/17		621,336
	507,020,000	(k)	Hungary Government Bond, 6.75%, 11/24/17		2,513,487
	25,840,000	(k)	Hungary Government Bond, 4.00%, 04/25/18		115,817
	64,470,000	(k)	Hungary Government Bond, 5.50%, 12/20/18		303,157
	103,830,000	(k)	Hungary Government Bond, 6.50%, 06/24/19		512,799
	67,860,000	(k)	Hungary Government Bond, 7.50%, 11/12/20		350,795
	110,830,000	(k)	Hungary Government Bond, 7.00%, 06/24/22		559,792
	36,900,000	(k)	Hungary Government Bond, 6.00%, 11/24/23		176,171
	7,430,000	(k)	Hungary Government Bond, 5.50%, 06/24/25		33,606
	520,000	(k)	Hungary Government International Bond, 4.38%, 07/04/17(f)		758,206
	5,100,000	(k)	Hungary Government International Bond, 6.00%, 01/11/19		7,983,255

Principal
Amount				Value
HUNGARY (continued)
$	2,920,000		Hungary Government International Bond, 6.25%, 01/29/20	$	3,230,980
	3,930,000		Hungary Government International Bond, 6.38%, 03/29/21		4,372,125
					24,738,015
INDONESIA — 0.1%
	3,590,000,000	(k)	Indonesia Treasury Bond, 9.00%, 09/15/18		325,263
	20,080,000,000	(k)	Indonesia Treasury Bond, 12.80%, 06/15/21		2,196,356
	33,160,000,000	(k)	Indonesia Treasury Bond, 12.90%, 06/15/22		3,678,389
					6,200,008
IRELAND — 0.6%
	17,995,160	(k)	Ireland Government Bond, 5.40%, 03/13/25		30,443,726
MALAYSIA — 0.6%
	2,150,000	(k)	Bank Negara Malaysia Monetary Notes, 2.88%, 05/15/14(h)		657,702
	8,960,000	(k)	Bank Negara Malaysia Monetary Notes, 2.84%, 05/27/14(h)		2,738,267
	270,000	(k)	Bank Negara Malaysia Monetary Notes, 2.81%, 09/09/14(h)		81,822
	250,000	(k)	Bank Negara Malaysia Monetary Notes, 2.81%, 09/18/14(h)		75,705
	10,000	(k)	Bank Negara Malaysia Monetary Notes, 2.89%, 03/12/15(h)		2,985
	10,000	(k)	Bank Negara Malaysia Monetary Notes, 2.89%, 04/16/15(h)		2,978
	87,958,000	(k)	Malaysia Government Bond, 4.72%, 09/30/15		27,542,827
	4,485,000	(k)	Malaysia Government Bond, 3.20%, 10/15/15		1,376,039
					32,478,325
MEXICO — 0.4%
	8,832,000	(k)	Mexican Bonos, 7.00%, 06/19/14		678,046
	10,587,000	(k)	Mexican Bonos, 6.00%, 06/18/15		829,019
	91,413,000	(k)	Mexican Bonos, 8.00%, 12/17/15		7,428,798
	43,680,000	(k)	Mexican Bonos, 6.25%, 06/16/16		3,486,130

Principal
Amount				Value
MEXICO (continued)
$	36,000,000	(k)	Mexican Bonos, 7.25%, 12/15/16	$	2,952,323
	23,900,000	(k)	Mexican Bonos, 7.75%, 12/14/17		2,006,602
	1,059,200	(k)	Mexican Udibonos, 4.50%, 12/18/14		426,376
	2,720,000	(k)	Mexican Udibonos, 5.00%, 06/16/16		1,161,851
	2,712,000	(k)	Mexican Udibonos, 3.50%, 12/14/17		1,147,422
	1,851,000	(k)	Mexican Udibonos, 4.00%, 06/13/19		808,420
	1,465,000	(k)	Mexican Udibonos, 2.50%, 12/10/20		592,997
					21,517,984
PHILIPPINES — 0.2%
	312,450,000	(k)	Philippine Government Bond, 9.13%, 09/04/16		8,008,007
	18,620,000	(k)	Philippine Treasury Bill, 1.00%, 09/03/14(h)		415,671
	25,320,000	(k)	Philippine Treasury Bill, 1.22%, 10/08/14(h)		562,703
	25,320,000	(k)	Philippine Treasury Bill, 1.21%, 04/08/15(h)		557,114
					9,543,495
POLAND — 0.5%
	4,280,000	(k)	Poland Government Bond, 5.50%, 04/25/15		1,451,382
	739,000	(k)	Poland Government Bond, 5.50%, 04/25/15		250,601
	7,481,000	(k)	Poland Government Bond, 2.97%, 07/25/15(h)		2,392,072
	32,184,000	(k)	Poland Government Bond, 6.25%, 10/24/15		11,158,339
	28,470,000	(k)	Poland Government Bond, 2.94%, 01/25/16(h)		8,956,674
	8,188,000	(k)	Poland Government Bond, 2.72%, 01/25/17(m)		2,700,081
	8,307,000	(k)	Poland Government Bond, 2.72%, 01/25/21(m)		2,695,697
					29,604,846
SERBIA — 0.1%
	1,540,000		Republic of Serbia, 5.25%, 11/21/17(i)		1,582,350
	3,280,000		Republic of Serbia, 7.25%, 09/28/21(i)		3,644,900
					5,227,250

Principal
Amount				Value
SINGAPORE — 0.1%
$	9,400,000	(k)	Monetary Authority of Singapore, 0.27%, 05/02/14(h)	$	7,497,806
SLOVENIA — 0.1%
	2,860,000		Slovenia Government International Bond, 5.50%, 10/26/22(i)		3,045,900
	1,400,000		Slovenia Government International Bond, 5.85%, 05/10/23(i)		1,522,500
					4,568,400
SOUTH KOREA — 0.9%
	1,477,000,000	(k)	Korea Monetary Stabilization Bond, 2.55%, 05/09/14		1,429,395
	625,530,000	(k)	Korea Monetary Stabilization Bond, 3.28%, 06/02/14		605,691
	7,731,000,000	(k)	Korea Monetary Stabilization Bond, 2.57%, 06/09/14		7,481,712
	11,704,200,000	(k)	Korea Monetary Stabilization Bond, 2.82%, 08/02/14		11,332,980
	10,385,800,000	(k)	Korea Monetary Stabilization Bond, 2.78%, 10/02/14		10,057,159
	6,039,800,000	(k)	Korea Monetary Stabilization Bond, 2.84%, 12/02/14		5,851,744
	2,226,780,000	(k)	Korea Monetary Stabilization Bond, 2.74%, 02/02/15		2,156,268
	312,000,000	(k)	Korea Monetary Stabilization Bond, 2.47%, 04/02/15		301,381
	2,610,000,000	(k)	Korea Monetary Stabilization Bond, 2.76%, 06/02/15		2,527,583
	5,276,320,000	(k)	Korea Monetary Stabilization Bond, 2.80%, 08/02/15		5,110,963
	433,000,000	(k)	Korea Monetary Stabilization Bond, 2.81%, 10/02/15		419,372
	3,026,680,000	(k)	Korea Monetary Stabilization Bond, 2.80%, 04/02/16		2,929,204
	1,641,520,000	(k)	Korea Treasury Bond, 3.25%, 12/10/14		1,594,347
					51,797,799

Principal
Amount				Value
SRI LANKA — 0.1%
$	13,560,000	(k)	Sri Lanka Government Bonds, Series A, 6.50%, 07/15/15	$	102,951
	264,000,000	(k)	Sri Lanka Government Bonds, Series A, 11.00%, 08/01/15		2,109,519
	385,000,000	(k)	Sri Lanka Government Bonds, Series B, 11.00%, 09/01/15		3,082,564
					5,295,034
SWEDEN — 0.1%
	50,720,000	(k)	Kommuninvest I Sverige AB, 2.25%, 05/05/14		7,800,437
UKRAINE — 0.3%
	200,000		Financing of Infrastrucural Projects State Enterprise, 7.40%, 04/20/18(i)		166,000
	100,000	(k)	Ukraine Government International Bond, 4.95%, 10/13/15(i)		120,699
	200,000		Ukraine Government International Bond, 6.25%, 06/17/16(i)		169,250
	4,230,000		Ukraine Government International Bond, 9.25%, 07/24/17(i)		3,807,000
	1,350,000		Ukraine Government International Bond, 6.75%, 11/14/17(i)		1,137,375
	9,600,000		Ukraine Government International Bond, 7.75%, 09/23/20(i)		8,088,000
	1,580,000		Ukraine Government International Bond, 7.80%, 11/28/22(i)		1,325,225
					14,813,549
VIETNAM — 0.1%
	1,625,000		Vietnam Government International Bond, 6.88%, 01/15/16(i)		1,746,875
	2,490,000		Vietnam Government International Bond, 6.75%, 01/29/20(i)		2,807,475
					4,554,350
Total Government Bonds (Cost $256,863,224)					271,035,055
ASSET-BACKED SECURITIES — 3.2%
CAYMAN ISLANDS — 0.5%
	11,250,000		Washington Mill CLO Ltd, Series 2014-1A, Class F, 5.73%, 04/20/26(c)(i)(m)		10,226,250

Principal
Amount			Value
CAYMAN ISLANDS (continued)
$	17,600,000	Washington Mill CLO Ltd, Series 2014-1A, Class SUB, 0.00%, 04/20/26(c)(i)	$	16,887,200
				27,113,450
UNITED STATES — 2.7%
	4,548,809	Bear Stearns Asset-Backed Securities Trust, Series 2006-AC2, Class 22A1, 0.50%, 03/25/36(m)		1,361,234
	4,548,809	Bear Stearns Asset-Backed Securities Trust, Series 2006-AC2, Class 22A3, 0.50%, 03/25/36(m)		1,361,234
	21,691,558	Bear Stearns Asset-Backed Securities Trust, Series 2006-AQ1, Class 2A2, 0.35%, 10/25/36(m)		14,542,552
	9,405,271	Bear Stearns Asset-Backed Securities Trust, Series 2007-AC4, Class A1, 0.45%, 02/25/37(m)		5,963,902
	4,884,740	Carrington Mortgage Loan Trust, Series 2007-FRE1, Class A4, 0.57%, 02/25/37(m)		3,031,169
	8,250,000	Carrington Mortgage Loan Trust, Series 2007-RFC1, Class A3, 0.29%, 12/25/36(m)		5,140,823
	5,700,000	Carrington Mortgage Loan Trust, Series 2007-RFC1, Class A4, 0.37%, 12/25/36(m)		3,596,730
	2,946,260	Countrywide Asset-Backed Certificates, Series 2006-11, Class 3AV2, 0.31%, 09/25/46(m)		2,328,751
	7,548,646	Countrywide Asset-Backed Certificates, Series 2006-19, Class 2A2, 0.31%, 03/25/37(m)		6,565,579
	9,842,832	Countrywide Asset-Backed Certificates, Series 2006-BC5, Class 2A3, 0.32%, 03/25/37(m)		7,755,161
	5,092,502	Countrywide Asset-Backed Certificates, Series 2007-4, Class A2, 5.53%, 04/25/47(m) .		4,858,851
	1,685,817	Countrywide Asset-Backed Certificates, Series 2007-6, Class 2A2, 0.32%, 09/25/37(m)		1,650,996
	9,763,606	Credit-Based Asset Servicing & Securitization LLC Trust, Series 2006-CB9, Class A2, 0.26%, 11/25/36(m)		5,274,985

Principal
Amount			Value
UNITED STATES (continued)
$	3,555,467	Credit-Based Asset Servicing & Securitization LLC Trust, Series 2006-CB9, Class A3, 0.30%, 11/25/36(m)	$	1,929,993
	8,995,942	Fieldstone Mortgage Investment Trust, Series 2006-3, Class 2A3, 0.31%, 11/25/36(m)		5,063,370
	7,041,094	First Franklin Mortgage Loan Trust Asset Backed Certificates, Series 2007-FF2, Class A2C, 0.30%, 03/25/37(m)		4,188,269
	10,000,000	Fremont Home Loan Trust, Series 2006-3, Class 2A3, 0.32%, 02/25/37(m)		5,378,898
	10,707,807	Fremont Home Loan Trust, Series 2006-B, Class 2A3, 0.31%, 08/25/36(m)		4,007,925
	8,294,719	Fremont Home Loan Trust, Series 2006-E, Class 2A3, 0.30%, 01/25/37(m)		4,009,764
	6,000,000	GSAA Trust, Series 2005-11, Class 3A5, 0.52%, 10/25/35(m)		5,023,770
	980,277	GSAA Trust, Series 2006-7, Class AF2, 5.99%, 03/25/46(m)		764,680
	5,544,341	Lehman XS Trust, Series 2007-1, Class 2A1, 5.73%, 02/25/37(m)		4,996,121
	9,116,089	Mastr Asset Backed Securities Trust, Series 2006-NC3, Class A4, 0.31%, 10/25/36(m)		5,385,943
	2,145,000	Morgan Stanley ABS Capital I, Series 2006-HE4, Class A4, 0.39%, 06/25/36(m)		1,370,642
	13,739,377	Morgan Stanley ABS Capital I, Series 2006-HE6, Class A2C, 0.30%, 09/25/36(m)		7,066,917
	4,743,233	Morgan Stanley ABS Capital I, Series 2007-HE1, Class A2D, 0.38%, 11/25/36(m)		2,841,261
	11,629,274	Morgan Stanley ABS Capital I, Series 2007-NC3, Class A2B, 0.29%, 05/25/37(m)		7,569,194
	7,099,101	Morgan Stanley Mortgage Loan Trust, Series 2006-12XS, Class A4, STEP, 6.01%, 10/25/36		4,050,442
	2,742,653	Oakwood Mortgage Investors, Inc., Series 2002-B, Class A4, 7.09%, 06/15/32(m)		2,898,847
	16,735,000	Residential Asset Mortgage Products, Inc., Series 2006-RZ2, Class A3, 0.42%, 05/25/36(m)		14,656,349

Principal
Amount			Value
UNITED STATES (continued)
$	4,855,583	Soundview Home Equity Loan Trust, Series 2007-OPT1, Class 2A3, 0.36%, 06/25/37(m)	$	2,828,140
				147,462,492
Total Asset-Backed Securities (Cost $162,255,663)				174,575,942
NON-AGENCY MORTGAGE-BACKED SECURITIES — 13.0%
COLLATERALIZED MORTGAGE OBLIGATIONS — 12.6%
	3,175,639	Adjustable Rate Mortgage Trust, Series 2005-3, Class 2A1, 2.67%, 07/25/35(m)		3,095,170
	3,748,656	Adjustable Rate Mortgage Trust, Series 2007-1, Class 4A1, 3.70%, 03/25/37(m)		2,879,531
	5,334,844	American Home Mortgage Assets Trust, Series 2005-1, Class 2A21, 2.56%, 11/25/35(m)		4,179,887
	7,618,467	American Home Mortgage Assets Trust, Series 2007-1, Class A1, 0.83%, 02/25/47(m)		4,834,871
	4,516,897	American Home Mortgage Assets Trust, Series 2007-3, Class 22A1, STEP, 6.25%, 06/25/37		2,933,644
	1,066,707	American Home Mortgage Assets Trust, Series 2007-4, Class A2, 0.34%, 08/25/37(m)		984,116
	2,580,575	American Home Mortgage Investment Trust, Series 2006-1, Class 2A3, 2.08%, 12/25/35(m)		1,941,268
	3,726,033	Banc of America Alternative Loan Trust, Series 2005-9, Class 2CB1, 6.00%, 10/25/35		3,494,481
	5,268,988	Banc of America Funding Corp, Series 2007-1, Class TA5, STEP, 6.09%, 01/25/37		4,420,855
	1,213,472	Banc of America Funding Corp., Series 2005-F, Class 6A1, 5.01%, 09/20/35(m)		1,192,001
	1,929,290	Banc of America Funding Corp., Series 2006-A, Class 3A2, 2.74%, 02/20/36(m)		1,525,165
	2,034,268	Banc of America Funding Corp., Series 2006-E, Class 2A1, 2.79%, 06/20/36(m)		1,647,889
	10,634,087	Banc of America Funding Corp., Series 2007-A, Class 2A1, 0.31%, 02/20/47(m)		8,903,619

Principal
Amount			Value
COLLATERALIZED MORTGAGE OBLIGATIONS (continued)
$	3,920,835	Banc of America Funding Trust, Series 2006-G, Class 2A1, 0.37%, 07/20/36(m)	$	3,555,457
	2,617,165	Banc of America Mortgage Securities, Inc., Series 2005-I, Class 2A5, 2.75%, 10/25/35(m)		2,373,203
	11,589,630	BCAP LLC Trust, Series 2007-AA2, Class 12A1, 0.36%, 05/25/47(m)		8,133,840
	6,100,286	BCAP LLC Trust, Series 2010-RR11, Class 4A1, 2.56%, 03/27/47(i)(m)		5,711,401
	2,737,076	BCAP LLC Trust, Series 2011-RR2, Class 1A1, 2.82%, 07/25/36(i)(m)		2,705,167
	3,656,086	BCAP LLC Trust, Series 2011-RR9, Class 7A1, 1.95%, 04/26/37(i)(m)		3,514,890
	4,957,478	Bear Stearns Adjustable Rate Mortgage Trust, Series 2005-12, Class 23A1, 2.43%, 02/25/36(m)		3,357,989
	1,953,591	Bear Stearns Adjustable Rate Mortgage Trust, Series 2005-6, Class 5A1, 5.16%, 08/25/35(m)		1,705,717
	9,210,462	Bear Stearns Adjustable Rate Mortgage Trust, Series 2006-1, Class A1, 2.37%, 02/25/36(m) .		8,942,820
	1,556,074	Bear Stearns Adjustable Rate Mortgage Trust, Series 2007-3, Class 1A1, 2.96%, 05/25/47(m)		1,322,222
	9,749,194	Bear Stearns Adjustable Rate Mortgage Trust, Series 2007-4, Class 12A1, 5.52%, 05/25/37(m)		8,794,180
	4,788,979	Bear Stearns Alt-A Trust, Series 2005-9, Class 26A1, 4.90%, 11/25/35(m)		3,636,644
	4,897,312	Bear Stearns Alt-A Trust, Series 2006-2, Class 11A1, 0.59%, 04/25/36(m)		2,966,355
	847,241	Citigroup Mortgage Loan Trust, Inc., Series 2005-2, Class 1A1, 2.72%, 05/25/35(m)		800,995
	1,046,907	Citigroup Mortgage Loan Trust, Inc., Series 2006-AR3, Class 1A2A, 5.38%, 06/25/36(m)		962,530
	8,377,237	Citigroup Mortgage Loan Trust, Inc., Series 2007-9, Class 1A1, 5.75%, 04/25/47(i)		6,731,629
	1,161,571	Countrywide Alternative Loan Trust, Series 2004-36CB, Class 1A1, 6.00%, 02/25/35		1,050,045

Principal
Amount			Value
COLLATERALIZED MORTGAGE OBLIGATIONS (continued)
$	5,033,476	Countrywide Alternative Loan Trust, Series 2005-22T1, Class A5, 5.50%, 06/25/35	$	4,419,445
	2,831,929	Countrywide Alternative Loan Trust, Series 2005-31, Class 2A1, 0.45%, 08/25/35(m)		2,420,449
	5,814,480	Countrywide Alternative Loan Trust, Series 2005-36, Class 2A1A, 0.46%, 08/25/35(m)		4,433,221
	9,039,961	Countrywide Alternative Loan Trust, Series 2005-38, Class A3, 0.50%, 09/25/35(m)		7,735,424
	7,012,107	Countrywide Alternative Loan Trust, Series 2005-46CB, Class A20, 5.50%, 10/25/35		6,494,298
	3,736,817	Countrywide Alternative Loan Trust, Series 2005-63, Class 5A1, 2.49%, 12/25/35(m)		3,175,852
	268,905	Countrywide Alternative Loan Trust, Series 2005-69, Class A1, 1.13%, 12/25/35(m)		234,693
	7,010,022	Countrywide Alternative Loan Trust, Series 2005-7CB, Class 2A8, 0.60%, 04/25/35(m)		5,695,333
	4,922,204	Countrywide Alternative Loan Trust, Series 2005-9CB, Class 1A3, 0.60%, 05/25/35(m)		4,004,481
	2,534,368	Countrywide Alternative Loan Trust, Series 2005-J14, Class A3, 5.50%, 12/25/35		2,203,119
	5,281,996	Countrywide Alternative Loan Trust, Series 2005-J3, Class 1A1, 0.70%, 05/25/35(m)		4,396,756
	7,163,004	Countrywide Alternative Loan Trust, Series 2006-12CB, Class A10, 0.50%, 05/25/36(m)		4,666,771
	4,203,744	Countrywide Alternative Loan Trust, Series 2006-15CB, Class A1, 6.50%, 06/25/36		3,272,393
	8,358,268	Countrywide Alternative Loan Trust, Series 2006-20CB, Class A9, 6.00%, 07/25/36		6,166,172
	4,033,994	Countrywide Alternative Loan Trust, Series 2006-22R, Class 2A1, 6.25%, 05/25/36		2,822,881
	3,256,174	Countrywide Alternative Loan Trust, Series 2006-24CB, Class A13, 0.50%, 06/25/36(m)		2,255,270
	3,256,174	Countrywide Alternative Loan Trust, Series 2006-24CB, Class A14, 7.00%, 06/25/36(m)		752,322
	3,356,659	Countrywide Alternative Loan Trust, Series 2006-24CB, Class A15, 5.75%, 06/25/36		2,832,080

Principal
Amount			Value
COLLATERALIZED MORTGAGE OBLIGATIONS (continued)
$	1,335,103	Countrywide Alternative Loan Trust, Series 2006-25CB, Class A2, 6.00%, 10/25/36	$	1,186,104
	3,370,874	Countrywide Alternative Loan Trust, Series 2006-2CB, Class A4, 0.55%, 03/25/36(m)		2,153,342
	9,468,512	Countrywide Alternative Loan Trust, Series 2006-2CB, Class A6, 5.50%, 03/25/36		7,583,373
	1,956,926	Countrywide Alternative Loan Trust, Series 2006-2CB, Class A8, 6.00%, 03/25/36		1,628,819
	3,578,003	Countrywide Alternative Loan Trust, Series 2006-41CB, Class 1A10, 6.00%, 01/25/37		3,001,086
	2,591,776	Countrywide Alternative Loan Trust, Series 2006-41CB, Class 1A4, 5.75%, 01/25/37		2,135,429
	4,911,770	Countrywide Alternative Loan Trust, Series 2006-43CB, Class 1A12, 5.75%, 02/25/37		4,100,375
	3,046,922	Countrywide Alternative Loan Trust, Series 2006-45T1, Class 2A2, 6.00%, 02/25/37		2,539,049
	6,967,028	Countrywide Alternative Loan Trust, Series 2006-45T1, Class 2A5, 6.00%, 02/25/37		5,805,737
	567,825	Countrywide Alternative Loan Trust, Series 2006-6CB, Class 1A10, 5.50%, 05/25/36		486,547
	1,610,973	Countrywide Alternative Loan Trust, Series 2006-6CB, Class 1A2, 0.55%, 05/25/36(m)		1,213,802
	8,803,385	Countrywide Alternative Loan Trust, Series 2006-7CB, Class 2A1, 6.50%, 05/25/36		6,226,600
	1,665,421	Countrywide Alternative Loan Trust, Series 2006-HY12, Class A4, 0.53%, 08/25/36(m)		1,631,310
	7,460,431	Countrywide Alternative Loan Trust, Series 2006-J7, Class 2A1, 2.27%, 11/20/36(m)		4,352,912
	8,450,272	Countrywide Alternative Loan Trust, Series 2006-OA10, Class 2A1, 0.34%, 08/25/46(m)		6,158,834
	8,169,753	Countrywide Alternative Loan Trust, Series 2006-OA14, Class 2A1, 0.34%, 11/25/46(m)		6,234,732
	10,321,306	Countrywide Alternative Loan Trust, Series 2006-OA14, Class 3A1, 0.98%, 11/25/46(m)		7,432,432
	2,650,000	Countrywide Alternative Loan Trust, Series 2006-OA16, Class A1D, 0.43%, 10/25/46(m)		1,879,222

Principal
Amount			Value
COLLATERALIZED MORTGAGE OBLIGATIONS (continued)
$	2,740,259	Countrywide Alternative Loan Trust, Series 2006-OA19, Class A1, 0.33%, 02/20/47(m)	$	2,018,319
	9,867,939	Countrywide Alternative Loan Trust, Series 2006-OA21, Class A1, 0.34%, 03/20/47(m)		7,602,915
	4,240,768	Countrywide Alternative Loan Trust, Series 2006-OA22, Class A1, 0.31%, 02/25/47(m)		3,729,607
	3,564,377	Countrywide Alternative Loan Trust, Series 2006-OA3, Class 2A1, 0.36%, 05/25/36(m)		2,770,334
	6,604,925	Countrywide Alternative Loan Trust, Series 2006-OA6, Class 1A1A, 0.36%, 07/25/46(m)		4,953,474
	10,987,540	Countrywide Alternative Loan Trust, Series 2006-OA7, Class 1A1, 1.96%, 06/25/46(m)		7,706,660
	17,761,394	Countrywide Alternative Loan Trust, Series 2006-OA8, Class 1A1, 0.34%, 07/25/46(m)		14,555,817
	12,214,887	Countrywide Alternative Loan Trust, Series 2006-OC10, Class 2A2A, 0.33%, 11/25/36(m)		10,052,560
	8,129,707	Countrywide Alternative Loan Trust, Series 2006-OC8, Class 2A2A, 0.27%, 11/25/36(m)		6,697,428
	4,654,527	Countrywide Alternative Loan Trust, Series 2007-12T1, Class A22, 5.75%, 06/25/37		3,753,660
	4,688,245	Countrywide Alternative Loan Trust, Series 2007-12T1, Class A5, 6.00%, 06/25/37		3,850,298
	2,421,995	Countrywide Alternative Loan Trust, Series 2007-19, Class 1A34, 6.00%, 08/25/37		2,034,649
	7,330,493	Countrywide Alternative Loan Trust, Series 2007-19, Class 1A4, 6.00%, 08/25/37		6,129,637
	8,152,902	Countrywide Alternative Loan Trust, Series 2007-22, Class 2A16, 6.50%, 09/25/37		6,563,193
	8,353,551	Countrywide Alternative Loan Trust, Series 2007-23CB, Class A1, 6.00%, 09/25/37		7,203,518
	5,566,422	Countrywide Alternative Loan Trust, Series 2007-25, Class 1A3, 6.50%, 11/25/37		4,806,100
	2,272,562	Countrywide Alternative Loan Trust, Series 2007-9T1, Class 1A8, 6.00%, 05/25/37		1,740,176
	7,645,650	Countrywide Alternative Loan Trust, Series 2007-HY5R, Class 2A1B, 2.56%, 03/25/47(m)		6,950,882

Principal
Amount			Value
COLLATERALIZED MORTGAGE OBLIGATIONS (continued)
$	6,217,921	Countrywide Alternative Loan Trust, Series 2007-OA2, Class 2A1, 0.28%, 03/25/47(m)	$	4,065,846
	3,740,419	Countrywide Alternative Loan Trust, Series 2008-1R, Class 2A3, 6.00%, 08/25/37		3,022,204
	983,338	Countrywide Home Loan Mortgage Pass Through Trust, Series 2005-17, Class 1A6, 5.50%, 09/25/35		917,498
	3,411,483	Countrywide Home Loan Mortgage Pass Through Trust, Series 2006-17, Class A6, 6.00%, 12/25/36		3,055,609
	14,635,848	Countrywide Home Loan Mortgage Pass Through Trust, Series 2006-OA4, Class A1, 1.09%, 04/25/46(m)		8,143,576
	222,301	Countrywide Home Loan Mortgage Pass-Through Trust, Series 2005-15, Class A1, 5.50%, 08/25/35		201,895
	574,005	Countrywide Home Loan Mortgage Pass-Through Trust, Series 2005-21, Class 2A2, 5.50%, 10/25/35		538,656
	5,767,278	Countrywide Home Loan Mortgage Pass-Through Trust, Series 2005-31, Class 2A3, 2.57%, 01/25/36(m)		4,989,668
	1,994,671	Countrywide Home Loan Mortgage Pass-Through Trust, Series 2005-J3, Class 2A4, 4.50%, 09/25/35		1,856,701
	6,485,041	Countrywide Home Loan Mortgage Pass-Through Trust, Series 2006-9, Class A2, 6.00%, 05/25/36		5,805,019
	5,116,041	Countrywide Home Loan Mortgage Pass-Through Trust, Series 2006-HYB1, Class 2A1, 2.41%, 03/20/36(m)		4,292,561
	940,211	Countrywide Home Loan Mortgage Pass-Through Trust, Series 2006-J2, Class 1A1, 6.00%, 04/25/36		840,957
	1,085,343	Countrywide Home Loan Mortgage Pass-Through Trust, Series 2006-J4, Class A9, 6.25%, 09/25/36		954,380
	2,859,326	Countrywide Home Loan Mortgage Pass-Through Trust, Series 2006-R2, Class AF1, 0.57%, 07/25/36(i)(m)		2,478,640

Principal
Amount			Value
COLLATERALIZED MORTGAGE OBLIGATIONS (continued)
$	2,559,862	Countrywide Home Loan Mortgage Pass-Through Trust, Series 2007-2, Class A16, 6.00%, 03/25/37	$	2,335,230
	6,247,317	Countrywide Home Loan Mortgage Pass-Through Trust, Series 2007-21, Class 1A1, 6.25%, 02/25/38		5,371,772
	6,300,960	Countrywide Home Loan Mortgage Pass-Through Trust, Series 2007-HY1, Class 1A1, 2.66%, 04/25/37(m)		5,383,887
	1,004,431	Credit Suisse Mortgage Capital Certificates, Series 2006-8, Class 1A1, 4.50%, 10/25/21		952,002
	5,105,226	Credit Suisse Mortgage Capital Certificates, Series 2006-9, Class 3A1, 6.00%, 11/25/36		5,049,549
	2,442,666	Credit Suisse Mortgage Capital Certificates, Series 2008-2R, Class 1A1, 6.00%, 07/25/37(i)		2,143,279
	1,047,568	Credit Suisse Mortgage Capital Certificates, Series 2010-20R, Class 9A1, 2.60%, 01/27/36(i)(m)		1,013,487
	2,789,795	Credit Suisse Mortgage Capital Certificates, Series 2011-2R, Class 2A1, 2.61%, 07/25/36(i)(m)		2,769,992
	3,588,807	Credit Suisse Mortgage Capital Certificates, Series 2011-4R, Class 5A1, 2.51%, 05/27/36(i)(m)		3,501,517
	2,118,361	Credit Suisse Mortgage Capital Certificates, Series 2011-4R, Class 6A1, 2.61%, 05/27/36(i)(m)		2,095,625
	1,062,599	Credit Suisse Mortgage Capital Certificates, Series 2011-5R, Class 1A1, 2.74%, 07/25/36(i)(m)		1,048,835
	3,092,406	Credit Suisse Mortgage Capital Certificates, Series 2011-5R, Class 2A1, 2.54%, 08/25/46(i)(m)		2,962,834
	3,760,236	Credit Suisse Mortgage Capital Certificates, Series 2011-6R, Class 6A1, 2.69%, 08/28/36(i)(m)		3,624,245
	8,842,496	Credit Suisse Mortgage Capital Certificates, Series 2013-7R, Class 6A1, 3.20%, 06/26/47(i)(m)		8,715,889

Principal
Amount			Value
COLLATERALIZED MORTGAGE OBLIGATIONS (continued)
$	4,719,656	Deutsche Alt-A Securities, Inc., Alternate Loan Trust, Series 2007-1, Class 1A3B, 0.29%, 08/25/37(m)	$	3,798,845
	4,000,000	FREMF Mortgage Trust, Series 2012-K708, Class C, 3.76%, 02/25/45(i)(m)		3,962,433
	5,000,000	FREMF Mortgage Trust, Series 2012-K709, Class C, 3.74%, 04/01/45(i)(m)		4,936,450
	3,500,000	FREMF Mortgage Trust, Series 2013-K28, Class C, 3.49%, 03/25/23(i)(m)		3,138,984
	1,622,890	GMAC Mortgage Corp. Loan Trust, Series 2005-AR6, Class 2A1, 2.97%, 11/19/35(m)		1,452,431
	8,618,156	GSMPS Mortgage Loan Trust, Series 2005-RP1, Class 1AF, 0.50%, 01/25/35(i)(m)		7,400,548
	3,034,851	GSMPS Mortgage Loan Trust, Series 2006-RP1, Class 1AF1, 0.50%, 01/25/36(i)(m)		2,570,386
	1,719,489	GSR Mortgage Loan Trust, Series 2005-AR1, Class 2A1, 2.66%, 01/25/35(m)		1,682,139
	2,655,095	GSR Mortgage Loan Trust, Series 2005-AR3, Class 5A1, 2.67%, 05/25/35(m)		2,506,990
	1,315,008	GSR Mortgage Loan Trust, Series 2005-AR5, Class 2A4, 2.69%, 10/25/35(m)		1,274,865
	5,267,000	GSR Mortgage Loan Trust, Series 2005-AR6, Class 4A5, 2.67%, 09/25/35(m)		5,189,947
	982,490	GSR Mortgage Loan Trust, Series 2006-4F, Class 1A1, 5.00%, 05/25/36		916,196
	1,940,079	GSR Mortgage Loan Trust, Series 2006-9F, Class 9A1, 6.00%, 08/25/21		1,886,567
	2,875,969	GSR Mortgage Loan Trust, Series 2006-AR1, Class 3A1, 2.82%, 01/25/36(m)		2,483,999
	2,865,690	GSR Mortgage Loan Trust, Series 2007-4F, Class 3A1, 6.00%, 07/25/37		2,577,085
	6,757,286	Harborview Mortgage Loan Trust, Series 2006-6, Class 3A1A, 2.64%, 08/19/36(m)		4,891,762
	5,610,381	Homebanc Mortgage Trust, Series 2005-4, Class A1, 0.42%, 10/25/35(m)		4,835,337
	2,649,615	Homebanc Mortgage Trust, Series 2006-1, Class 2A1, 2.26%, 04/25/37(m)		1,822,540

Principal
Amount			Value
COLLATERALIZED MORTGAGE OBLIGATIONS (continued)
$	3,347,586	Homebanc Mortgage Trust, Series 2006-1, Class A1, 0.33%, 12/25/36(m)	$	2,833,312
	2,058,780	Homebanc Mortgage Trust, Series 2007-1, Class 13A1, 5.72%, 04/25/47(m)		1,573,463
	42,953	IndyMac INDA Mortgage Loan Trust, Series 2007-AR7, Class 1A1, 2.82%, 11/25/37(m)		40,185
	5,048,439	IndyMac INDX Mortgage Loan Trust, Series 2006-AR11, Class 4A1, 2.71%, 06/25/36(m)		3,764,504
	5,700,950	IndyMac INDX Mortgage Loan Trust, Series 2006-AR3, Class 3A1A, 2.51%, 04/25/36(m)		4,274,903
	6,481,667	IndyMac INDX Mortgage Loan Trust, Series 2006-AR33, Class 2A21, 2.69%, 01/25/37(m)		5,301,671
	14,745,923	IndyMac INDX Mortgage Loan Trust, Series 2006-FLX1, Class A1, 0.36%, 11/25/36(m)		12,897,448
	1,987,613	JPMorgan Alternative Loan Trust, Series 2007-A1, Class 1A1B, 0.21%, 03/25/37(m)		1,828,462
	7,129,837	JPMorgan Alternative Loan Trust, Series 2007-A1, Class 1A3A, 0.30%, 03/25/37(m)		6,076,273
	7,075,309	JPMorgan Mortgage Trust, Series 2007-A5, Class 2A1, 1.12%, 10/25/37(m)		5,286,752
	884,370	JPMorgan Mortgage Trust, Series 2007-S2, Class 2A3, 5.50%, 06/25/37		847,940
	10,540,999	Lehman XS Trust, Series 2006-12N, Class A31A, 0.35%, 08/25/46(m)		7,913,977
	6,860,993	Lehman XS Trust, Series 2007-20N, Class A1, 1.30%, 12/25/37(m)		4,913,157
	1,924,954	Mastr Adjustable Rate Mortgages Trust, Series 2005-6, Class 5A2, 2.30%, 07/25/35(m)		1,623,038
	2,698,858	Mastr Reperforming Loan Trust, Series 2005-2, Class 1A1F, 0.50%, 05/25/35(i)(m)		2,290,921
	2,162,494	Merrill Lynch Mortgage Investors, Inc., Series 2006-AF2, Class AF1, 6.25%, 10/25/36		1,905,501
	1,809,129	Morgan Stanley Mortgage Loan Trust, Series 2006-2, Class 2A1, 1.05%, 02/25/36(m)		1,511,733
	14,467,131	Morgan Stanley Re-REMIC Trust, Series 2010-R5, Class 7B, 0.09%, 05/26/37(i)(m)		9,553,383

Principal
Amount			Value
COLLATERALIZED MORTGAGE OBLIGATIONS (continued)
$	7,561,056	Prime Mortgage Trust, Series 2006-DR1, Class 2A1, 5.50%, 05/25/35(i)	$	7,257,517
	3,223,892	Prime Mortgage Trust, Series 2006-DR1, Class 2A2, 6.00%, 05/25/35(i)		3,243,580
	5,071,217	Residential Accredit Loans, Inc., Series 2006-QS12, Class 2A4, 6.00%, 09/25/36		4,197,133
	2,379,938	Residential Accredit Loans, Inc., Series 2006-QS15, Class A1, 6.50%, 10/25/36		1,873,720
	1,976,794	Residential Accredit Loans, Inc., Series 2007-QS6, Class A1, 0.48%, 04/25/37(m)		1,271,045
	2,867,714	Residential Funding Mortgage Securities I, Series 2005-SA5, Class 2A, 3.07%, 11/25/35(m)		2,565,874
	438,405	Residential Funding Mortgage Securities I, Series 2006-S11, Class A2, 6.00%, 11/25/36		395,182
	8,970,522	Residential Funding Mortgage Securities I, Series 2006-SA2, Class 2A1, 3.60%, 08/25/36(m)		7,232,117
	4,980,426	Structured Adjustable Rate Mortgage Loan Trust, Series 2005-11, Class 1A1, 2.44%, 05/25/35(m)		4,292,650
	7,218,588	Structured Adjustable Rate Mortgage Loan Trust, Series 2005-17, Class 5A1, 5.15%, 08/25/35(m)		6,728,755
	5,025,556	Structured Adjustable Rate Mortgage Loan Trust, Series 2006-9, Class 1A1, 2.48%, 10/25/36(m)		3,766,043
	8,698,139	Structured Adjustable Rate Mortgage Loan Trust, Series 2006-9, Class 3A1, 4.59%, 10/25/36(m)		6,588,509
	8,370,793	Structured Asset Mortgage Investments II Trust, Series 2006-AR1, Class 3A1, 0.38%, 02/25/36(m)		6,650,016
	5,761,661	Structured Asset Mortgage Investments, Inc., Series 2006-AR5, Class 4A1, 0.37%, 05/25/46(m)		3,636,135
	7,792,387	Structured Asset Securities Corp, Series 2005-RF3, Class 1A, 0.50%, 06/25/35(i)(m)		6,789,176
	930,538	Suntrust Adjustable Rate Mortgage Loan Trust, Series 2007-1, Class 2A1, 2.71%, 02/25/37(m)		780,161

Principal
Amount			Value
COLLATERALIZED MORTGAGE OBLIGATIONS (continued)
$	3,801,823	Suntrust Adjustable Rate Mortgage Loan Trust, Series 2007-2, Class 3A3, 2.71%, 04/25/37(m)	$	3,218,787
	1,283,604	Suntrust Adjustable Rate Mortgage Loan Trust, Series 2007-2, Class 4A1, 2.70%, 04/25/37(m)		945,369
	268,502	WaMu Mortgage Pass-Through Certificates Trust, Series 2005-AR16, Class 1A1, 2.36%, 12/25/35(m)		253,770
	9,795,912	WaMu Mortgage Pass-Through Certificates Trust, Series 2005-AR17, Class A1A1, 0.42%, 12/25/45(m)		9,120,055
	8,313,295	WaMu Mortgage Pass-Through Certificates Trust, Series 2006-AR10, Class 1A1, 2.36%, 09/25/36(m)		7,277,777
	4,493,081	WaMu Mortgage Pass-Through Certificates Trust, Series 2006-AR19, Class 1A, 0.87%, 01/25/47(m)		3,719,607
	10,273,106	WaMu Mortgage Pass-Through Certificates Trust, Series 2006-AR19, Class 2A, 2.03%, 01/25/47(m)		9,486,991
	6,865,231	WaMu Mortgage Pass-Through Certificates Trust, Series 2006-AR3, Class A1A, 1.13%, 02/25/46(m)		6,494,282
	916,632	WaMu Mortgage Pass-Through Certificates Trust, Series 2006-AR8, Class 1A1, 2.40%, 08/25/46(m)		793,819
	2,909,425	WaMu Mortgage Pass-Through Certificates Trust, Series 2007-HY7, Class 2A2, 2.25%, 07/25/37(m)		2,437,928
	6,029,104	WaMu Mortgage Pass-Through Certificates Trust, Series 2007-OA4, Class 1A, 0.90%, 05/25/47(m)		5,346,326
	2,938,169	Washington Mutual Alternative Mortgage Pass-Through Certificates, Series 2005-10, Class 2A6, 5.50%, 11/25/35		2,510,349
	6,976,668	Washington Mutual Alternative Mortgage Pass-Through Certificates, Series 2006-2, Class 4CB, 6.00%, 03/25/36		5,111,056

Principal
Amount			Value
COLLATERALIZED MORTGAGE OBLIGATIONS (continued)
$	6,111,563	Washington Mutual Alternative Mortgage Pass-Through Certificates, Series 2006-5, Class 3A3, STEP, 6.22%, 07/25/36	$	3,415,572
	2,855,089	Washington Mutual Mortgage Pass-Through Certificates, Series 2006-AR6, Class 2A, 1.09%, 08/25/46(m)		1,978,422
	1,005,586	Wells Fargo Mortgage Backed Securities Trust, Series 2006-AR10, Class 3A1, 2.62%, 07/25/36(m)		981,298
	1,676,534	Wells Fargo Mortgage Backed Securities Trust, Series 2006-AR8, Class 2A3, 2.62%, 04/25/36(m)		1,614,788
				697,017,592
COMMERCIAL MORTGAGE-BACKED SECURITIES — 0.4%
	1,000,000	Commercial Mortgage Pass Through Certificates, Series 2013-LC6, Class D, 4.43%, 01/10/23(i)(m)		895,128
	5,380,000	JPMorgan Chase Commercial Mortgage Securities Trust, Series 2007-CB20, Class AJ, 6.28%, 02/12/51(m)		5,623,133
	1,000,000	JPMorgan Chase Commercial Mortgage Securities Trust, Series 2007-CB20, Class B, 6.38%, 02/12/51(i)(m)		1,005,366
	5,000,000	LB-UBS Commercial Mortgage Trust, Series 2006-C4, Class AJ, 6.05%, 06/15/38(m)		5,292,433
	4,000,000	Morgan Stanley Capital I Trust, Series 2006-HQ9, Class C, 5.84%, 07/12/44(m)		4,112,162
	3,333,300	Wachovia Bank Commercial Mortgage Trust, Series 2007-C33, Class AJ, 6.13%, 02/15/51(m)		3,459,585
				20,387,807
Total Non-Agency Mortgage-Backed Securities (Cost $648,376,968)				717,404,569
U.S. GOVERNMENT AGENCIES — 41.6%
Federal Farm Credit Bank — 0.0%
	275,000	0.04%, 06/06/14(o)		274,989

Principal
Amount			Value
Federal Home Loan Bank — 41.6%
$	99,000,000	0.05%, 05/01/14(o)	$	99,000,000
	5,700,000	0.05%, 05/01/14(o)		5,700,000
	162,000,000	0.08%, 05/02/14(o)		161,999,804
	128,000,000	0.04%, 05/02/14(o)		127,999,857
	20,000,000	0.01%, 05/02/14(o)		19,999,994
	145,000,000	0.09%, 05/05/14(o)		144,998,550
	217,000,000	0.09%, 05/07/14(o)		216,997,888
	20,000,000	0.04%, 05/07/14(o)		19,999,867
	46,000,000	0.01%, 05/09/14(o)		45,999,200
	10,000,000	0.10%, 05/09/14(o)		9,999,789
	140,000,000	0.02%, 05/14/14(o)		139,998,014
	356,000,000	0.04%, 05/16/14(o)		355,993,808
	8,000,000	0.04%, 05/16/14(o)		7,999,857
	250,000,000	0.04%, 05/21/14(o)		249,994,282
	331,000,000	0.04%, 05/23/14(o)		330,991,947
	112,000,000	0.02%, 05/28/14(o)		111,998,320
	150,000,000	0.04%, 05/30/14(o)		149,995,167
	22,000,000	0.03%, 06/02/14(o)		21,999,413
	60,000,000	0.04%, 06/24/14(o)		59,996,400
	6,105,000	0.05%, 06/25/14(o)		6,104,534
	1,100,000	0.05%, 06/27/14(o)		1,099,917
	165,000	0.06%, 07/09/14(o)		164,987
	3,355,000	0.05%, 07/30/14(o)		3,354,665
				2,292,386,260
Total U.S. Government Agencies (Cost $2,292,661,159)				2,292,661,249
U.S. GOVERNMENT SECURITIES — 2.8%
U.S. Treasury Bills — 2.8%
	117,000,000	0.02%, 05/08/14(o)		116,999,636
	37,000,000	0.01%, 05/29/14(o)		36,999,568
Total U.S. Government Securities (Cost $153,999,204)				153,999,204

Shares
CASH SWEEP — 2.0%
UNITED STATES — 2.0%
	110,881,263	Citibank - US Dollars on Deposit in Custody Account, 0.02%(p)		110,881,263
Total Cash Sweep (Cost $110,881,263)				110,881,263
TOTAL INVESTMENTS — 99.4% (Cost $5,272,516,158)(a)				5,474,840,306
OTHER ASSETS IN EXCESS OF LIABILITIES — 0.6%				35,498,973
NET ASSETS — 100.0%			$	5,510,339,279

Contracts				Value
CALL OPTIONS WRITTEN — (0.6)%
	(1,000	)	Abercrombie & Fitch Co., Strike $30.00, Expires 08/16/14	$	(785,000	)
	(1,000	)	American International Group, Inc., Strike $35.00, Expires 01/17/15		(1,855,000	)
	(1,000	)	American International Group, Inc., Strike $45.00, Expires 01/17/15		(930,000	)
	(1,250	)	American International Group, Inc., Strike $47.00, Expires 01/17/15		(981,250	)
	(1,500	)	American International Group, Inc., Strike $52.50, Expires 08/16/14		(427,500	)
	(1,000	)	American Public Education, Inc., Strike $30.00, Expires 09/20/14		(630,000	)
	(150	)	Apple, Inc., Strike $425.00, Expires 01/17/15		(2,505,750	)
	(265	)	Apple, Inc., Strike $450.00, Expires 01/17/15		(3,752,400	)
	(100	)	Apple, Inc., Strike $510.00, Expires 10/18/14		(852,500	)
	(4,625	)	Bank of America Corp., Strike $10.00, Expires 01/17/15		(2,474,375	)
	(1,500	)	Blucora, Inc., Strike $17.50, Expires 07/19/14		(390,000	)
	(2,000	)	Blucora, Inc., Strike $17.50, Expires 10/18/14		(660,000	)
	(140	)	Campbell Soup Co., Strike $40.00, Expires 05/17/14		(78,400	)
	(250	)	CF Industries Holdings, Inc., Strike $205.00, Expires 05/17/14		(1,047,500	)
	(4,305	)	Cirrus Logic, Inc., Strike $15.00, Expires 01/17/15		(3,659,250	)
	(515	)	Cisco Systems, Inc., Strike $17.00, Expires 01/17/15		(321,875	)
	(1,000	)	Citigroup, Inc., Strike $55.00, Expires 01/17/15		(116,000	)
	(1,000	)	Citigroup, Inc., Strike $55.00, Expires 06/21/14		(7,000	)
	(2,750	)	Coca-Cola Co. (The), Strike $42.50, Expires 01/17/15		(266,750	)
	(3,500	)	Francesca’s Holdings Corp., Strike $15.00, Expires 06/21/14		(752,500	)
	(2,750	)	GameStop Corp., Strike $32.00, Expires 01/17/15		(2,653,750	)
	(1,500	)	Inteliquent, Inc., Strike $10.00, Expires 09/20/14		(630,000	)
	(922	)	Inteliquent, Inc., Strike $7.50, Expires 06/21/14		(580,860	)
	(840	)	Inteliquent, Inc., Strike $7.50, Expires 09/20/14		(537,600	)
	(2,500	)	iShares MSCI Germany Index Fund, Strike $28.00, Expires 01/17/15		(1,025,000	)

Contracts				Value
	(1,384	)	Liquidity Services, Inc., Strike $17.50, Expires 06/21/14	$	(186,840	)
	(2,500	)	Liquidity Services, Inc., Strike $22.50, Expires 06/21/14		(50,000	)
	(1,500	)	Lowe’s Cos., Inc., Strike $45.00, Expires 10/18/14		(480,000	)
	(20	)	Myriad Genetics, Inc., Strike $20.00, Expires 05/17/14		(46,800	)
	(1,586	)	Peabody Energy Corp., Strike $13.00, Expires 01/17/15		(1,022,970	)
	(1,300	)	PepsiCo, Inc., Strike $85.00, Expires 01/17/15		(526,500	)
	(2,500	)	Performant Financial Corp., Strike $10.00, Expires 07/19/14		(112,500	)
	(25	)	Priceline Group, Inc. (The), Strike $1,070.00, Expires 10/18/14		(386,250	)
	(50	)	Priceline Group, Inc. (The), Strike $1,110.00, Expires 01/17/15		(769,000	)
	(30	)	Seadrill Ltd., Strike $32.00, Expires 07/19/14		(10,800	)
	(1,250	)	Weight Watchers International, Inc., Strike $35.00, Expires 01/17/15		(62,500	)
	(481	)	WisdomTree Europe SmallCap Dividend Fund, Strike $64.00, Expires 11/22/14		(79,365	)
Total Call Options Written (Premiums received $(25,956,433))					(31,653,785	)
PUT OPTIONS WRITTEN — 0.0%
	(100	)	S&P 500 Index, Strike $1,750.00, Expires 06/21/14		(86,000	)
	(130	)	S&P 500 Index, Strike $1,795.00, Expires 06/21/14		(165,100	)
Total Put Options Written (Premiums received $(470,853))					(251,100	)

Contracts/ Notional Amount ($)				Value
STRUCTURED OPTIONS — 2.1%
	121,330		American International Group, Inc., One purchased call strike $43.27, One written call strike $53.573, One written put strike $43.27 with a barrier level strike of $28.847, Expires 01/16/15, Broker Goldman Sachs International .	$	779,333

Contracts/
Notional
Amount ($)			Value
$	13,800,000	DAXK Index, One purchased call strike $4,570.3176, One written call strike $31.2287 on iShares MSCI Germany ETF, One written put strike $27.8828 with a barrier level strike of $22.306 on iShares MSCI Germany ETF ($10,000,000 notional amount), Expires 12/19/14, Broker JPMorgan Chase Bank N.A.(q)	$	557,329
	2,415	DAXK Index, One purchased call strike $4,140.40, One written call strike $4,802.864, One written put strike $4,140.40 with a barrier level strike of $2,898.28, Expires 09/19/14, Broker Goldman Sachs International		1,298,644
	2,338	DAXK Index, One purchased call strike $4,277.00, One written call strike $4,833.01, One written put strike $4,277.00 with a barrier level strike of $2,993.90, Expires 08/15/14, Broker Goldman Sachs International		1,052,137
	2,299	DAXK Index, One purchased call strike $4,351.00, One written call strike $5,090.67, One written put strike $4,351.00 with a barrier level strike of $3,263.25 Expires 11/21/14, Broker Goldman Sachs International		1,073,845
$	5,000,000	DAXK Index, One purchased call strike $4,371.42, One written call strike $5,027.13, One written put strike $4,371.42 with a barrier level strike of $3,059.99, Expires 02/20/15, Broker Citibank N.A		448,007
	8,566	DAXK Index, One purchased call strike $4,378.20, One written call strike $29.44 on iShares MSCI Germany ETF (1,426,941 contracts), One written put strike $26.28 with a barrier level strike of $21.023 on iShares MSCI Germany ETF (570,776 contracts), Expires 11/21/14, Broker Goldman Sachs International(r)		1,871,233

Contracts/
Notional
Amount ($)			Value
$	10,000,000	DAXK Index, One purchased call strike $4,394.80, One written call strike $5,054.02, One written put strike $4,394.80 with a barrier level strike of $3,296.10, Expires 12/19/14, Broker JPMorgan Chase Bank N.A	$	893,085
	2,262	DAXK Index, One purchased call strike $4,420.39, One written call strike $5,216.0602, One written put strike $4,420.39 with a barrier level strike of $3,094.273, Expires 10/17/14, Broker Goldman Sachs International .		1,093,289
$	2,000,000	DAXK Index, One purchased call strike $4,444.72, One written call strike $26.5862 on iShares MSCI Germany ETF, One written put strike $26.5862 with a barrier level strike of $21.269 on iShares MSCI Germany ETF ($10,000,000 notional amount), Expires 12/19/14, Broker Citibank N.A.(q)		968,192
	2,243	DAXK Index, One purchased call strike $4,458.16, One written call strike $5,171.47, One written put strike $4,458.16 with a barrier level strike of $3,299.04, Expires 10/17/14, Broker Credit Suisse International		984,458
$	19,500,000	DAXK Index, One purchased call strike $4,465.18, One written call strike $30.0574 on iShares MSCI Germany ETF, One written put strike $26.837 with a barrier level strike of $21.47 on iShares MSCI Germany ETF ($10,000,000 notional amount), Expires 01/16/15, Broker JPMorgan Chase Bank N.A.(q)		682,697
	2,231	DAXK Index, One purchased call strike $4,482.00, One written call strike $5,154.30, One written put strike $4,482.00 with a barrier level strike of $3,316.68, Expires 09/19/14, Broker Goldman Sachs International		918,182

Contracts/
Notional
Amount ($)			Value
	3,274	DAXK Index, One purchased call strike $4,582.2208, One written call strike $5,223.7317, One written put strike $4,582.2208 with a barrier level strike of $3,299.199 Expires 01/16/15, Broker Goldman Sachs International	$	1,007,515
$	29,600,000	DAXK Index, One purchased call strike $4,619.50, One written call strike $31.5401 on iShares MSCI Germany ETF, One written put strike $28.1608 with a barrier level strike of $22.529 on iShares MSCI Germany ETF ($20,000,000 notional amount), Expires 02/20/15, Broker JPMorgan Chase Bank N.A.(q)		888,060
	4,563	DAXK Index, One purchased call strike $4,821.0978, One written call strike $5,062.1527, One written put strike $4,821.0978 with a barrier level strike of $4,338.988 (2,074 contracts), Expires 06/20/14, Broker JPMorgan Chase Bank N.A.(r)		567,893
	3,182	DAXK Index, One purchased call strike $4,879.00, One written call strike $5,318.11, One written put strike $4,879.00 with a barrier level strike of $4,439.89 (1,537 contracts), Expires 04/17/15, Broker Credit Suisse International(r)		284,191
	4,347	DAXK Index, One purchased call strike $4,882.4585, One written call strike $5,273.0552, One written put strike $4,882.4585 with a barrier level strike of $4,394.213 (1,536 contracts), Expires 05/15/15, Broker JPMorgan Chase Bank N.A.(r)		288,019
$	12,850,000	DAXK Index, One purchased call strike $4,937.92, One written put strike $4,693.47 (10,000,000 notional amount), Expires 07/18/14, Broker Citibank N.A.(q)		289,861

Contracts/
Notional
Amount ($)			Value
	5,242	DAXK Index, One purchased call strike $4,961.4024, One written call strike $5,253.2496, One written put strike $4,864.12 with a barrier level strike of $4,377.708 (2,056 contracts), Expires 10/17/14, Broker Goldman Sachs International(r)	$	404,373
	3,317	DAXK Index, One purchased call strike $4,974.505, One written put strike $4,775.5248 (3,015 contracts), Expires 05/16/14, Broker Goldman Sachs International(r)		134,188
	5,533	DAXK Index, One purchased call strike $4,977.1894, One written put strike $4,684.4135 (3,074 contracts), Expires 06/20/14, Broker Goldman Sachs International(r)		414,269
	4,014	DAXK Index, One purchased call strike $4,982.70, One written call strike $5,630.451, One written put strike $4,982.70 with a barrier level strike of $3,737.025, Expires 05/15/15, Broker Goldman Sachs International		(145,117	)
	1,958	DAXK Index, One purchased call strike $4,987.1982, One written put strike $4,740.3072 (1,519 contracts), Expires 07/18/14, Broker Goldman Sachs International(r)		126,459
	2,770	DAXK Index, One purchased call strike $6,552.855, One written call strike $7,077.0834, One written put strike $6,552.855 with a barrier level strike of $5,897.57 (1,145 contracts), Expires 04/17/15, Broker JPMorgan Chase Bank N.A.(r)		418,104
$	10,000,000	Euro STOXX 50 Index, One purchased call strike $2,595.70, Expires 01/19/18, One written put strike $2,595.70 with a barrier level strike of $1,491.2297, Expires 01/16/15, Broker Citibank N.A		2,197,886

Contracts/
Notional
Amount ($)			Value
	3,839	Euro STOXX 50 Index, One purchased call strike $2,605.00, Expires 01/19/18, One written put strike $2,605.00 with a barrier level strike of $1,439.2630, Expires 01/16/15, Broker JPMorgan Chase Bank N.A	$	2,159,433
	3,764	Euro STOXX 50 Index, One purchased call strike $2,657.00, Expires 01/19/18, One written put strike $2,657.00 with a barrier level strike of $1,554.3450, Expires 01/16/15, Broker JPMorgan Chase Bank N.A		1,993,500
	5,516	Euro STOXX 50 Index, One purchased call strike $2,719.48, Expires 02/16/18, One written put strike $2,719.48 with a barrier level strike of $1,706.4740, Expires 02/20/15, Broker JPMorgan Chase Bank N.A		2,685,133
	5,505	Euro STOXX 50 Index, One purchased call strike $2,725,10, Expires 12/21/18, One written put strike $2,725.10 with a barrier level strike of $2,125.58, Expires 12/16/16, Broker Goldman Sachs International		1,864,560
$	10,000,000	Euro STOXX 50 Index, One purchased call strike $2,730.95, Expires 05/18/18, One written put strike $2,730.95 with a barrier level strike of $1,768.29, Expires 05/15/15, Broker JPMorgan Chase Bank N.A		1,636,892
$	7,875,000	Euro STOXX 50 Index, One purchased call strike $2,797.2047, Expires 12/21/18, One written put strike $2,797.2047 with a barrier level strike of $2,041.959 ($7,500,000 notional amount), Expires 12/16/16, Broker JPMorgan Chase Bank N.A.(q)		854,903
	2,697	Euro STOXX 50 Index, One purchased call strike $2,799.80, One written call strike $3,275.77, One written put strike $2,799.80 with a barrier level strike of $1,959.86, Expires 12/19/14, Broker UBS AG		722,630

Contracts/
Notional
Amount ($)			Value
	5,339	Euro STOXX 50 Index, One purchased call strike $2,810.00, Expires 06/15/18, One written put strike $2,810.00 with a barrier level strike of $1,968.00, Expires 06/19/15, Broker Goldman Sachs International	$	1,978,361
$	10,600,000	Euro STOXX 50 Index, One purchased call strike $2,984.1745, One written call strike $3,193.0667, One written put strike $2,984.1745 with a barrier level strike of $2,655.915 ($5,000,000 notional amount), Expires 08/15/14, Broker JPMorgan Chase Bank N.A.(q)		413,796
$	15,975,000	Euro STOXX 50 Index, One purchased call strike $3,038.087, One written call strike $3,220.3722, One written put strike $3,038.087 with a barrier level strike of $2,673.517 ($7,500,000 notional amount) , Expires 06/20/14, Broker JPMorgan Chase Bank N.A.(q)		540,256
$	15,550,000	Euro STOXX 50 Index, One purchased call strike $3,088.1826, One written call strike $3,269.8404, One written put strike $3,027.63 with a barrier level strike of $2,724.867 ($5,000,000 notional amount), Expires 07/18/14, Broker JPMorgan Chase Bank N.A.(q)		410,719
	7,703	Euro STOXX 50 Index, One purchased call strike $3,115.70, One written call strike $3,364.956, One written put strike $3,115.70 with a barrier level strike of $2,804.13 (3,210 contracts), Expires 02/20/15, Broker JPMorgan Chase Bank N.A.(r)		355,283
	2,168	Euro STOXX 50 Index, One purchased call strike $3,144.6446, One written put strike $2,988.9692 (1,606 contracts), Expires 06/20/14, Broker Goldman Sachs International(r)		114,302

Contracts/
Notional
Amount ($)			Value
	3,310	Euro STOXX 50 Index, One purchased call strike $3,204.326, One written put strike $3,045.696 (2,364 contracts), Expires 06/20/14, Broker Goldman Sachs International(r)	$	49,665
	7,007	Euro STOXX 50 Index, One purchased call strike $3,205.42, One written put strike $3,077.20 (6,240 contracts), Expires 07/18/14, Broker Goldman Sachs International(r)		(14,061	)
	1,572	Euro STOXX 50 Index, One purchased call strike $3,212.81, One written put strike $3,053.76 (2,232 contracts), Expires 07/18/14, Broker BNP Paribas SA(r)		29,762
	3,095	Euro STOXX 50 Index, One purchased call strike $3,263.01, One written put strike $3,101.47, Expires 06/20/14, Broker BNP Paribas SA.		(67,155	)
$	21,450,000	Euro STOXX 50 Index, One purchased call strike $3,265.84, One written call strike $3,104.16 ($15,000,000 notional amount), Expires 06/20/14, Broker Citibank N.A.(q)		(121,133	)
	36,862	Euro STOXX Banks Index, One purchased call strike $135.64, One purchased put strike $143.78, One written put strike $135.64 with a barrier level strike of $122.08 (978,001 contracts), Expires 07/18/14, Broker BNP Paribas SA(r)		715,371
	138,075	Euro STOXX Banks Index, One purchased call strike $141.59, One written call strike $150.09, One written put strike $141.59 with a barrier level strike of $127.43 (35,313 contracts), Expires 12/19/14, Broker Credit Suisse International(r)		471,080
	34,025	Euro STOXX Banks Index, One purchased call strike $146.95, One written call strike $158.71, One written put strike $146.95 with a barrier level strike of $133.72 (1,424,485 contracts), Expires 04/17/15, Broker BNP Paribas SA(r)		278,454

Contracts/
Notional
Amount ($)			Value
	65,911	Euro STOXX Banks Index, One purchased call strike $151.72, One written call strike $169.93, One written put strike $151.72 with a barrier level strike of $109.24, Expires 02/20/15, Broker Credit Suisse International	$	(65,270	)
	64,995	Euro STOXX Banks Index, One purchased call strike $153.858, One written call strike $172.321, One written put strike $153.858 with a barrier level strike of $112.3163, Expires 03/20/15, Broker Goldman Sachs International		(269,562	)
	173,114	Euro STOXX Banks Index, One purchased call strike $155.10, One written call strike $165.96, One written put strike $155.10 with a barrier level strike of $139.59 (48,356 contracts), Expires 04/17/15, Broker Credit Suisse International(r)		5,363
	2,860	FTSE 100 Index, One purchased call strike $6,609.07, One written call strike $7,005.61, One written put strike $6,609.07 with a barrier level strike of $6,014.25 (1,135 contracts), Expires 04/17/15, Broker Credit Suisse International(r)		210,522
	2,403	FTSE 100 Index, One purchased call strike $6,648.65, One written call strike $7,114.0555, One written put strike $3,032.72 on Euro STOXX 50 Index with a barrier level strike of $2,729.448 (2,473 contracts), Expires 07/18/14, Broker JPMorgan Chase Bank N.A.(r)		361,311
	2,402	FTSE 100 Index, One purchased call strike $6,776.15, One written call strike $7,250.4805, One written put strike $6,776.15 with a barrier level strike of $6,098.535 (1,107 contracts), Expires 03/20/15, Broker JPMorgan Chase Bank N.A.(r)		51,436

Contracts/ Notional Amount ($)			Value
$	19,500,000	FTSE 100 Index, One purchased call strike $6,797.00, One written call strike $7,408.73, One written put strike $6,797.00 with a barrier level strike of $6,253.24 ($10,000,000 notional amount), Expires 02/20/15, Broker Citibank N.A.(q)	$	73,754
	2,587	FTSE 100 Index, One purchased call strike $6,832.7207, One written call strike $7,238.6249, One written put strike $6,765.07 with a barrier level strike of $6,156.2137 (1,478 contracts), Expires 05/16/14, Broker Goldman Sachs International(r)		49,327
	169	FTSE MIB Borsa Italiana Index, One purchased call strike $17,805.73, One purchased put strike $19,230.19, One written put strike $17,983.79 with a barrier level strike of $16,025.20 (522,946 contracts), Expires 08/15/14, Broker BNP Paribas SA(r)		450,582
	324	FTSE MIB Index, One purchased call strike $19,288.8936, One written call strike $20,423.5344, One written put strike $18,910.68 with a barrier level strike of $17,019.612 (159 contracts), Expires 05/16/14, Broker Goldman Sachs International(r)		355,556
	254	FTSE MIB Index, One purchased call strike $19,658.97, One written call strike $20,815.38 (240 contracts), One written put strike $19,273.50 with a barrier level strike of $17,346.15 (259 contracts), Expires 07/18/14, Broker UBS AG (r)		666,027
	2,211	IBEX 35 Index, One purchased call strike $10,093.07, One written call strike $10,799.5849, One written put strike $10,093.07 with a barrier level strike of $9,083.763 (743 contracts), Expires 01/16/15, Broker JPMorgan Chase Bank N.A.(r)		304,921

Contracts/ Notional Amount ($)			Value
	1,898	IBEX 35 Index, One purchased call strike $10,154.11, One written call strike $11,169.521, One written put strike $10,154.11 with a barrier level strike of $9,341.7812 (739 contracts), Expires 05/15/15, Broker Goldman Sachs International(r)	$	172,882
	1,314	IBEX 35 Index, One purchased call strike $10,160.133, One written call strike $10,871.3423, One written put strike $10,160.133 with a barrier level strike of $9,144.1197 (492 contracts), Expires 11/21/14, Broker Goldman Sachs International(r)		190,892
$	22,500,000	IBEX 35 Index, One purchased call strike $10,169.84, One written call strike $10,881.73, One written put strike $10,169.84 with a barrier level strike of $9,152.86 ($7,500,000 notional amount), Expires 02/20/15, Broker Citibank N.A.(q)		251,023
	2,291	IBEX 35 Index, One purchased call strike $10,214.73, One written call strike $11,236.203, One written put strike $10,214.73 with a barrier level strike of $9,193.257 (979 contracts), Expires 03/20/15, Broker JPMorgan Chase Bank N.A.(r)		284,082
$	17,800,000	IBEX 35 Index, One purchased call strike $10,244.319, One written call strike $10,846.926, One written put strike $10,043.45 with a barrier level strike of $9,039.105 ($5,000,000 notional amount), Expires 07/18/14, Broker JPMorgan Chase Bank N.A.(q)		384,285
	1,305	IBEX 35 Index, One purchased call strike $10,345.30, One written call strike $11,276.38, One written put strike $10,345.30 with a barrier level strike of $9,310.77 (483 contracts), Expires 05/15/15, Broker Credit Suisse International(r)		68,235

Contracts/ Notional Amount ($)			Value
	1,586	IBEX 35 Index, One purchased call strike $10,464.00, One written call strike $11,196.48, One written put strike $10,464.00 with a barrier level strike of $9,417.60 (478 contracts), Expires 03/15/15, Broker Credit Suisse International(r)	$	20,051
$	21,600,000	IBEX 35 Index, One purchased call strike $10,607.50, One written call strike $11,350.03, One written put strike $10,607.50 with a barrier level strike of $9,546.75 ($7,500,000 notional amount), Expires 04/17/15, Broker Citibank N.A.(q)		(123,725	)
	913	IBEX 35 Index, One purchased call strike $9,356.236, One written call strike $10,004.688, One written put strike $9,263.60 with a barrier level strike of $8,337.24 (324 contracts), Expires 08/15/14, Broker JPMorgan Chase Bank N.A.(r)		411,892
	151,791	iShares FTSE/Xinhua China 25 Index ETF, One purchased call strike $32.94, One written call strike $37.5516, One written put strike $32.94 with a barrier level strike of $23.387, Expires 03/20/15, Broker JPMorgan Chase Bank N.A		72,728
	295,805	iShares FTSE/Xinhua China 25 Index ETF, One purchased call strike $33.8060, One written call strike $38.8769, One written put strike $33.8060 with a barrier level strike of $22.9881, Expires 08/15/14, Broker Citibank N.A		355,386
	288,480	iShares FTSE/Xinhua China 25 Index ETF, One purchased call strike $34.6644, One written call strike $39.5174, One written put strike $34.6644 with a barrier level strike of $23.9184, Expires 09/19/14, Broker Citibank N.A		192,451

Contracts/ Notional Amount ($)			Value
	143,308	iShares FTSE/Xinhua China 25 Index ETF, One purchased call strike $34.89, One written call strike $39.08, One written put strike $34.89 with a barrier level strike of $25.47, Expires 02/20/15, Broker UBS AG	$	(75,667	)
$	24,900,000	iShares FTSE/Xinhua China 25 Index ETF, One purchased call strike $35.10, One written call strike $36.855, One written put strike $35.10 with a barrier level strike of $31.59 ($5,000,000 notional amount), Expires 01/16/15, Broker JPMorgan Chase Bank N.A.(q)		73,537
$	15,500,000	iShares FTSE/Xinhua China 25 Index ETF, One purchased call strike $36.601, One written call strike $39.1631, One written put strike $36.601 with a barrier level strike of $32.9409 ($5,000,000 notional amount), Expires 11/21/14, Broker Citibank N.A.(q)		(173,964	)
	427,270	iShares FTSE/Xinhua China 25 Index ETF, One purchased call strike $37.33, One written call strike $39.94, One written put strike $37.33 with a barrier level strike of $33.97 (133,941 contracts), Expires 10/17/14, Broker UBS AG(r)		(257,260	)
$	14,350,000	iShares FTSE/Xinhua China 25 Index ETF, One purchased call strike $37.6578, One written call strike $40.2938, One written put strike $37.6578 with a barrier level strike of $33.892 ($5,000,000 notional amount), Expires 09/19/14, Broker Citibank N.A.(q)		(324,636	)
$	5,000,000	iShares FTSE/Xinhua China 25 Index ETF, One purchased call strike $38.3163, One written call strike $44.8301, One written put strike $38.3163 with a barrier level strike of $30.653, Expires 01/16/15, Broker Citibank N.A		(344,662	)

Contracts/ Notional Amount ($)			Value
$	7,500,000	iShares FTSE/Xinhua China 25 Index ETF, One purchased call strike $38.5495, One written call strike $43.9464, One written put strike $38.5495 with a barrier level strike of $26.2137, Expires 02/20/15, Broker Citibank N.A	$	(445,655	)
$	16,450,000	iShares MSCI Brazil Index Fund, One purchased call strike $42.4224, One written call strike $44.5435, One written put strike $42.4224 with a barrier level strike of $38.1802 ($5,000,000 notional amount), Expires 08/15/14, Broker Citibank N.A.(q)		450,871
	172,859	iShares MSCI EAFE Index Fund, One purchased call strike $57.8506, One written call strike $66.5282, One written put strike $57.8506 with a barrier level strike of $39.0492, Expires 08/15/14, Broker Citibank N.A.		1,227,021
	177,462	iShares MSCI EAFE Index Fund, One purchased call strike $56.35, One written call strike $67.62, One written put strike $56.35 with a barrier level strike of $36.63, Expires 08/15/14, Broker Credit Suisse International		1,656,911
	174,767	iShares MSCI EAFE Index Fund, One purchased call strike $57.2191, One written call strike $65.8020, One written put strike $57.2191 with a barrier level strike of $37.1924, Expires 08/15/14, Broker Citibank N.A.		1,262,614
	173,220	iShares MSCI EAFE Index Fund, One purchased call strike $57.73, One written call strike $68.12, One written put strike $57.73 with a barrier level strike of $41.85, Expires 07/18/14, Broker Credit Suisse International		1,475,791
	259,023	iShares MSCI EAFE Index Fund, One purchased call strike $57.91, One written call strike $64.69, One written put strike $57.91 with a barrier level strike of $40.54, Expires 08/15/14, Broker UBS AG		2,006,523

Contracts/ Notional Amount ($)			Value
	345,352	iShares MSCI EAFE Index Fund, One purchased call strike $57.912, One written call strike $67.77, One written put strike $57.912 with a barrier level strike of $40.54, Expires 08/15/14, Broker Goldman Sachs International	$	2,641,557
	170,329	iShares MSCI EAFE Index Fund, One purchased call strike $58.71, One written call strike $65.17, One written put strike $58.71 with a barrier level strike of $41.10, Expires 08/15/14, Broker UBS AG		909,121
	167,448	iShares MSCI EAFE Index Fund, One purchased call strike $59.72, One written call strike $69.28, One written put strike $59.72 with a barrier level strike of $41.80, Expires 09/19/14, Broker UBS AG		1,088,139
	164,799	iShares MSCI EAFE Index Fund, One purchased call strike $60.68, One written call strike $69.18, One written put strike $60.68 with a barrier level strike of $43.69, Expires 11/21/14, Broker UBS AG		836,569
	243,704	iShares MSCI EAFE Index Fund, One purchased call strike $61.55, One written call strike $70.7825, One written put strike $61.55 with a barrier level strike of $43.085, Expires 09/19/14, Broker Goldman Sachs International		1,278,591
	238,398	iShares MSCI EAFE Index Fund, One purchased call strike $62.92, One written call strike $72.358, One written put strike $62.92 with a barrier level strike of $44.044, Expires 09/19/14, Broker Goldman Sachs International		1,053,046
	157,381	iShares MSCI EAFE Index Fund, One purchased call strike $63.54, One written call strike $73.07, One written put strike $63.54 with a barrier level strike of $46.38, Expires 10/17/14, Broker UBS AG		620,086

Contracts/ Notional Amount ($)			Value
$	25,850,000	iShares MSCI EAFE Index Fund, One purchased call strike $64.8714, One written call strike $68.7637, One written put strike $64.8714 with a barrier level strike of $58.3843 ($10,000,000 notional amount), Expires 02/20/15, Broker Citibank N.A.(q)	$	465,662
$	27,200,000	iShares MSCI EAFE Index Fund, One purchased call strike $66.8659, One written call strike $70.2092, One written put strike $66.8659 with a barrier level strike of $60.1793 ($10,000,000 notional amount), Expires 01/16/15, Broker Citibank N.A.(q)		211,992
	269,408	iShares MSCI EAFE Index Fund, One purchased call strike $67.3922, One written call strike $71.3565, One written put strike $66.0708 with a barrier level strike of $59.4637 (151,353 contracts), Expires 06/20/14, Broker Goldman Sachs International(r)		408,205
	327,627	iShares MSCI EAFE Index Fund, One purchased call strike $67.76, One written call strike $72.5032, One written put strike $67.76 with a barrier level strike of $60.984 (147,580 contracts), Expires 03/20/15, Broker JPMorgan Chase Bank N.A.(r)		78,554
	273,748	iShares MSCI Emerging Markets Index Fund, One purchased call strike $38.7217, One written call strike $42.5939, One written put strike $38.7217 with a barrier level strike of $35.2367 (129,127 contracts), Expires 02/20/15, Broker Goldman Sachs International(r)		316,972
	126,936	iShares MSCI Emerging Markets Index Fund, One purchased call strike $39.39, One written call strike $42.15, One written put strike $39.39 with a barrier level strike of $29.54 (616,603 contracts), Expires 11/21/14, Broker BNP Paribas SA(r)		207,722

Contracts/ Notional Amount ($)			Value
	126,936	iShares MSCI Emerging Markets Index Fund, One purchased call strike $39.39, One written call strike $42.15, One written put strike $39.39 with a barrier level strike of $29.54, Expires 11/21/14, Broker Credit Suisse International	$	52,945
	354,244	iShares MSCI Emerging Markets Index Fund, One purchased call strike $42.3437, One written call strike $48.6953, One written put strike $42.3437 with a barrier level strike of $30.9109, Expires 08/15/14, Broker Citibank N.A.		56,416
$	11,600,000	iShares MSCI Emerging Markets Index Fund, One purchased call strike $36.7112, One written call strike $39.6481, One written put strike $36.7112 with a barrier level strike of $23.8623 ($5,000,000 notional amount), Expires 12/23/14, Broker Citibank N.A.(q)		822,152
	134,553	iShares MSCI Emerging Markets Index Fund, One purchased call strike $37.16, One written call strike $42.73, One written put strike $37.16 with a barrier level strike of $23.41, Expires 08/15/14, Broker UBS AG		449,250
	132,240	iShares MSCI Emerging Markets Index Fund, One purchased call strike $37.81, One written call strike $43.48, One written put strike $37.81 with a barrier level strike of $23.82, Expires 09/19/14, Broker UBS AG		379,716
$	11,400,000	iShares MSCI Emerging Markets Index Fund, One purchased call strike $38.44, One written call strike $40.7464, One written put strike $38.44 with a barrier level strike of $34.596 ($5,000,000 notional amount), Expires 08/15/14, Broker JPMorgan Chase Bank N.A.(q)		378,512

Contracts/ Notional Amount ($)			Value
$	5,750,000	iShares MSCI Emerging Markets Index Fund, One purchased call strike $39.31, One written call strike $42.4548, One written put strike $38.5238 with a barrier level strike of $28.6963 ($2,500,000 notional amount), Expires 07/18/14, Broker Citibank N.A.(q)	$	246,413
	126,390	iShares MSCI Emerging Markets Index Fund, One purchased call strike $39.56, One written call strike $46.29, One written put strike $39.56 with a barrier level strike of $29.67, Expires 08/15/14, Broker UBS AG		245,538
	233,918	iShares MSCI Emerging Markets Index Fund, One purchased call strike $42.75, One written call strike $49.16, One written put strike $42.75 with a barrier level strike of $30.78, Expires 09/19/14, Broker UBS AG		(4,370	)
	233,504	iShares MSCI Emerging Markets Index Fund, One purchased call strike $42.8259, One written call strike $49.678, One written put strike $42.8259 with a barrier level strike of $29.122, Expires 12/19/14, Broker JPMorgan Chase Bank N.A.		(64,318	)
	348,691	iShares MSCI EMU ETF Index Fund, One purchased call strike $39.72, One written call strike $42.10, One written put strike $39.72 with a barrier level strike of $35.75 (125,881 contracts), Expires 07/18/14, Broker Credit Suisse International(r)		470,659
	476,070	iShares MSCI EMU ETF Index Fund, One purchased call strike $40.28, One written call strike $42.65, One written put strike $39.49 with a barrier level strike of $35.54 (126,614 contracts), Expires 12/19/14, Broker Credit Suisse International(r)		456,879

Contracts/ Notional Amount ($)			Value
	322,191	iShares MSCI EMU ETF Index Fund, One purchased call strike $40.3487, One written call strike $42.7696, One written put strike $40.3487 with a barrier level strike of $36.3138 (123,920 contracts), Expires 01/16/15, Broker Goldman Sachs International(r)	$	261,142
	399,013	iShares MSCI EMU ETF Index Fund, One purchased call strike $41.352, One written call strike $44.6602, One written put strike $41.352 with a barrier level strike of $37.6303 (181,370 contracts), Expires 04/17/15, Broker Goldman Sachs International(r)		188,018
	380,068	iShares MSCI EMU ETF Index Fund, One purchased call strike $41.44, One written call strike $43.93, One written put strike $41.44 with a barrier level strike of $37.30 (120,656 contracts), Expires 12/31/14, Broker Credit Suisse International(r)		188,456
	572,867	iShares MSCI EMU ETF Index Fund, One purchased call strike $41.72, One written call strike $44.64, One written put strike $41.72 with a barrier level strike of $37.55 (239,693 contracts), Expires 02/20/15, Broker Credit Suisse International(r)		136,219
	262,030	iShares MSCI EMU ETF Index Fund, One purchased call strike $41.98, One written call strike $44.92, One written put strike $41.98 with a barrier level strike of $37.78 (119,104 contracts), Expires 03/20/15, Broker Credit Suisse International(r)		1,218
	135,426	iShares MSCI Mexico Index Fund, One purchased call strike $73.8412, One written call strike $84.9174, One written put strike $73.8412 with a barrier level strike of $54.6425, Expires 10/17/14, Broker Citibank N.A.		(775,072	)

Contracts/ Notional Amount ($)			Value
	120,327	iShares MSCI Mexico Index Fund, One purchased call strike $62.33, One written call strike $72.9261, One written put strike $62.33 with a barrier level strike of $43.631, Expires 10/17/14, Broker Goldman Sachs International	$	300,102
	118,427	iShares MSCI Mexico Index Fund, One purchased call strike $63.33, One written call strike $74.0961, One written put strike $63.33 with a barrier level strike of $42.4311, Expires 12/19/14, Broker Goldman Sachs International		204,912
	112,613	iShares MSCI Mexico Index Fund, One purchased call strike $66.60, One written call strike $77.922, One written put strike $66.60 with a barrier level strike of $46.62, Expires 11/21/14, Broker Goldman Sachs International		(29,076	)
	73,503	iShares MSCI Mexico Index Fund, One purchased call strike $68.0243, One written call strike $78.9082, One written put strike $68.0243 with a barrier level strike of $47.617, Expires 11/21/14, Broker Citibank N.A.		(79,174	)
	137,269	iShares MSCI Mexico Index Fund, One purchased call strike $72.85, One written call strike $83.78, One written put strike $72.85 with a barrier level strike of $54.6375, Expires 07/18/14, Broker Goldman Sachs International		(378,974	)
	283,056	iShares MSCI South Korea Index Fund, One purchased call strike $59.3522, One written call strike $64.6939, One written put strike $59.3522 with a barrier level strike of $54.011 (126,364 contracts), Expires 04/17/15, Broker JPMorgan Chase Bank N.A.(r)		368,700
	170,407	iShares MSCI South Korea Index Fund, One purchased call strike $60.15, One written call strike $64.36, One written put strike $60.15 with a barrier level strike of $54.14 (83,126 contracts), Expires 11/21/14, Broker UBS AG(r)		240,488

Contracts/ Notional Amount ($)			Value
	214,341	iShares MSCI South Korea Index Fund, One purchased call strike $60.6511, One written call strike $63.6837, One written put strike $60.6511 with a barrier level strike of $54.586 (82,439 contracts), Expires 08/15/14, Broker Goldman Sachs International(r)	$	268,150
	296,133	iShares MSCI South Korea Index Fund, One purchased call strike $61.29, One written call strike $65.5803, One written put strike $61.29 with a barrier level strike of $55.161 (122,369 contracts), Expires 01/16/15, Broker JPMorgan Chase Bank N.A.(r)		231,363
	57,034	iShares STOXX Europe Small 200 Index, One purchased call strike $228.81, One written call strike $251.691, One written put strike $228.81 with a barrier level strike of $208.2171 (32,778 contracts), Expires 05/15/14, Broker Goldman Sachs International(r)		61,107
	40,631	iShares STOXX Europe Small 200 Index, One purchased call strike $230.12, One written call strike $253.132, One written put strike $230.12 with a barrier level strike of $207.108 (21,728 contracts), Expires 04/17/15, Broker Goldman Sachs International(r)		90,887
	84,044	iShares STOXX Europe Small 200 Index, One purchased call strike $234.40, One written call strike $257.84, One written put strike $1,168.80 on Russell 2000 Index with a barrier level strike of $1,051.92 (8,556 contracts), Expires 03/20/15, Broker JPMorgan Chase Bank N.A.(r)		(217,900	)

Contracts/ Notional Amount ($)			Value
	27,208	Korea Stock Exchange KOSPI 200 Index , One purchased call strike $243.50, One purchased put strike $243.50 (20,534 contracts), One written put strike $54.82 on iShares MSCI South Korea Capped ETF with a barrier level strike of $38.374 (182,414 contracts), Expires 01/16/15, Broker Goldman Sachs International(r)	$	553,303
	53,312	Korea Stock Exchange KOSPI 200 Index , One purchased call strike $243.85, One purchased put strike $243.85 (41,009 contracts), One written put strike $55.03 on iShares MSCI South Korea Capped ETF with a barrier level strike of $38.521 (363,438 contracts), Expires 01/16/15, Broker Goldman Sachs International(r)		1,071,206
	41,412	Korea Stock Exchange KOSPI 200 Index , One purchased call strike $244.50, One purchased put strike $244.50 (30,675 contracts), One written put strike $55.43 on iShares MSCI South Korea Capped ETF with a barrier level strike of $38.80 (270,612 contracts), Expires 01/16/15, Broker Goldman Sachs International(r)		810,326
	55,422	Korea Stock Exchange KOSPI 200 Index , One purchased call strike $247.20, One purchased put strike $247.20 (40,454 contracts), One written put strike $55.81 on iShares MSCI South Korea Capped ETF with a barrier level strike of $44.648 (358,358 contracts), Expires 02/13/15, Broker Goldman Sachs International(r)		965,139

Contracts/ Notional Amount ($)			Value
$	10,125,000	Korea Stock Exchange KOSPI 200 Index, One purchased call strike $240.839474, One purchased put strike $240.839474 ($7,500,000 notional amount), One written put strike $54.656073 on iShares MSCI South Korea Capped ETF with a barrier level strike of $43.725 ($15,000,000 notional amount), Expires 03/20/15, Broker JPMorgan Chase Bank N.A.(q)	$	896,216
$	10,125,000	Korea Stock Exchange KOSPI 200 Index, One purchased call strike $242.54, One purchased put strike $242.54 ($7,500,000 notional amount), One written put strike $55.2353 on iShares MSCI South Korea Capped ETF with a barrier level strike of $43.084 ($15,000,000 notional amount), Expires 03/13/15, Broker JPMorgan Chase Bank N.A.(q)		861,569
$	13,500,000	Korea Stock Exchange KOSPI 200 Index, One purchased call strike $250.0589, One purchased put strike $250.0589 ($10,000,000 notional amount), One written put strike $56.705 on iShares MSCI South Korea Capped ETF with a barrier level strike of $45.364 ($20,000,000 notional amount), Expires 03/13/15, Broker JPMorgan Chase Bank N.A.(q)		871,748
$	5,000,000	Korea Stock Exchange KOSPI 200 Index, One purchased call strike $261.4225, One written call strike $68.8445 on iShares MSCI South Korea Capped ETF, One written put strike $61.4683 with a barrier level strike of $49.1746 on iShares MSCI South Korea Capped ETF, Expires 03/20/15, Broker Citibank N.A.		(164,153	)

Contracts/ Notional Amount ($)			Value
$	10,000,000	Korea Stock Exchange KOSPI 200 Index, One purchased call strike $261.62, One written call strike $69.0719 on iShares MSCI South Korea Capped ETF, One written put strike $61.6713 with a barrier level strike of $49.337 on iShares MSCI South Korea Capped ETF, Expires 03/20/15, Broker Citibank N.A.	$	(329,958	)
	236,821	Market Vectors Oil Service ETF, One purchased call strike $42.226, One written call strike $47.7154, One written put strike $42.226 with a barrier level strike of $27.4469, Expires 09/19/14, Broker Goldman Sachs International		1,114,804
	367,002	Market Vectors Russia ETF, One purchased call strike $27.2478, One written call strike $31.6074, One written put strike $27.2478 with a barrier level strike of $19.0735, Expires 09/19/14, Broker Citibank N.A.		(1,080,655	)
	360,061	Market Vectors Russia ETF, One purchased call strike $27.7731, One written call strike $32.4945, One written put strike $27.7731 with a barrier level strike of $19.4412, Expires 10/17/14, Broker Citibank N.A.		(1,367,060	)
	907,315	Market Vectors Russia ETF, One purchased call strike $23.035, One written call strike $25.3385, One written put strike $23.035 with a barrier level strike of $14.973 (434,122 contracts), Expires 03/20/15, Broker JPMorgan Chase Bank N.A.(r)		(127,093	)
	199,675	Market Vectors Russia ETF, One purchased call strike $25.0407, One written call strike $28.7968, One written put strike $25.0407 with a barrier level strike of $16.276, Expires 09/19/14, Broker JPMorgan Chase Bank N.A.		(152,936	)

Contracts/ Notional Amount ($)			Value
	198,416	Market Vectors Russia ETF, One purchased call strike $25.1996, One written call strike $29.4835, One written put strike $25.1996 with a barrier level strike of $15.876, Expires 08/15/14, Broker JPMorgan Chase Bank N.A.	$	(102,773	)
	378,215	Market Vectors Russia ETF, One purchased call strike $26.44, One written call strike $31.728, One written put strike $26.44 with a barrier level strike of $18.508, Expires 09/19/14, Broker Goldman Sachs International		(847,967	)
	187,829	Market Vectors Russia ETF, One purchased call strike $26.62, One written call strike $31.15, One written put strike $26.62 with a barrier level strike of $17.30, Expires 10/17/14, Broker UBS AG		(342,024	)
	433,437	Market Vectors Russia ETF, One purchased call strike $29.07, One written call strike $30.81, One written put strike $29.07 with a barrier level strike of $26.16 (171,999 contracts), Expires 05/16/14, Broker Credit Suisse International(r)		(1,071,525	)
	169,023	Market Vectors Russia ETF, One purchased call strike $29.5817, One written call strike $34.3148, One written put strike $29.5817 with a barrier level strike of $19.2281, Expires 03/20/15, Broker Goldman Sachs International		(1,006,671	)
	28,273	MSCI Singapore Free Index, One purchased call strike $353.6971, One written call strike $381.9929, One written put strike $353.6971 with a barrier level strike of $318.3274 (1,880,001 contracts), Expires 03/31/15, Broker BNP Paribas SA(r)		562,420
	35,471	MSCI Singapore Free Index, One purchased call strike $358.0345, One written call strike $375.9362, One written put strike $358.0345 with a barrier level strike of $322.2311 (1,777,999 contracts), Expires 01/16/15, Broker BNP Paribas SA(r)		394,233

Contracts/ Notional Amount ($)			Value
	15,097	OMX Stockholm 30 Index, One purchased call strike $1,324.80, One written put strike $1,218.816, Expires 06/19/14, Broker Credit Suisse International	$	714,489
	31,082	OMX Stockholm 30 Index, One purchased call strike $1,371.28, One written put strike $1,303.39 (14,731 contracts), Expires 05/16/14, Broker Credit Suisse International(r)		232,944
	68,005	OMX Stockholm 30 Index, One purchased call strike $1,412.754, One written put strike $1,278.206 (11,148 contracts), Expires 06/19/14, Broker Credit Suisse International(r)		363,295
	12,566	Russell 2000 Index, One purchased call strike $1,094.20, One written call strike $1,159.852, One written put strike $1,094.20 with a barrier level strike of $984.78 (4,570 contracts), Expires 12/19/14, Broker JPMorgan Chase Bank N.A.(r)		192,161
$	20,600,000	Russell 2000 Index, One purchased call strike $1,102.76, One written call strike $1,213.04, One written put strike $1,102.76 with a barrier level strike of $992.48 ($10,000,000 notional amount), Expires 03/20/15, Broker Citibank N.A.(q)		330,601
$	18,800,000	Russell 2000 Index, One purchased call strike $1,105.16, One written call strike $1,215.676, One written put strike $1,105.16 with a barrier level strike of $994.644 ($10,000,000 notional amount), Expires 12/19/14, Broker Citibank N.A.(q)		377,867
	6,736	Russell 2000 Index, One purchased call strike $1,113.40, One purchased put strike $1,169.07, One written put strike $1,113.40 with a barrier level strike of $1,002.06 (798,750 contracts), Expires 06/20/14, Broker BNP Paribas SA(r)		287,948

Contracts/ Notional Amount ($)			Value
$	9,700,000	Russell 2000 Index, One purchased call strike $1,125.9547, One written call strike $1,193.512, One written put strike $1,125.9547 with a barrier level strike of $1,013.3592 ($5,000,000 notional amount), Expires 07/18/14, Broker Citibank N.A.(q)	$	120,496
$	18,880,000	Russell 2000 Index, One purchased call strike $1,128.60, One written call strike $1,218.888, One written put strike $1,128.60 with a barrier level strike of $1,027.026 (8,000,000 notional amount), Expires 05/15/15, Broker Citibank N.A.(q)		20,364
	4,391	Russell 2000 Index, One purchased call strike $1,138.70, One written call strike $1,263.96, One written put strike $1,138.70 with a barrier level strike of $1,058.99 (1,124,755 contracts), Expires 06/19/15, Broker BNP Paribas SA(r)		(27,902	)
	6,496	Russell 2000 Index, One purchased call strike $1,154.62, One written call strike $1,270.08, One written put strike $1,154.62 with a barrier level strike of $1,062.25 (1,514,978 contracts), Expires 05/15/15, Broker BNP Paribas SA(r)		(140,384	)
$	10,000,000	Russell 2000 Index, One purchased call strike $1,160.7362, One written call strike $1,300.02, One written put strike $1,160.74 with a barrier level strike of $870.55, Expires 05/15/15, Broker Citibank N.A.		(367,536	)
	26,034	Russell 2000 Index, One purchased call strike $1,169.61, One written call strike $1,274.8749, One written put strike $1,169.61 with a barrier level strike of $1,052.649 (12,825 contracts), Expires 04/17/15, Broker JPMorgan Chase Bank N.A.(r)		(442,197	)

Contracts/ Notional Amount ($)			Value
	18,069	Russell 2000 Index, One purchased call strike $1,178.81, One written call strike $1,261.3267, One written put strike $1,178.81 with a barrier level strike of $1,060.929 (8,483 contracts), Expires 01/16/15, Broker JPMorgan Chase Bank N.A.(r)	$	(335,083	)
	8,433	Russell 2000 Index, One purchased call strike $1,185.82, One written call strike $1,256.97, One written put strike $1,185.82 with a barrier level strike of $1,067.24 (1,560,017 contracts), Expires 02/20/15, Broker BNP Paribas SA(r)		(359,506	)
	6,322	Russell 2000 Index, One purchased call strike $1,186.35, One written call strike $1,281.26, One written put strike $1,186.35 with a barrier level strike of $1,079.58 (1,326,021 contracts), Expires 03/20/15, Broker BNP Paribas SA(r)		(294,487	)
	10,921	Russell 2000 Index, One purchased call strike $915.68, One written call strike $1,062.19, One written put strike $915.68 with a barrier level strike of $659.29, Expires 09/19/14, Broker UBS AG		1,275,238
	10,676	Russell 2000 Index, One purchased call strike $936.65, One written call strike $1,077.15, One written put strike $936.65 with a barrier level strike of $702.4875, Expires 08/15/14, Broker Goldman Sachs International		1,210,427
	10,618	Russell 2000 Index, One purchased call strike $941.80, One written call strike $1,083.07, One written put strike $941.80 with a barrier level strike of $659.26, Expires 08/15/14, Broker UBS AG		1,198,264

Contracts/ Notional Amount ($)			Value
	10,536	Russell 2000 Index, One purchased call strike $949.1365, One written call strike $1,082.0156, One written put strike $949.1365 with a barrier level strike of $692.87, Expires 08/15/14, Broker JPMorgan Chase Bank N.A.	$	1,108,464
	3,094	S&P 500 Index, One purchased call strike $1,616.20, One written call strike $1,810.144, One written put strike $1,616.20 with a barrier level strike of $1,179.826, Expires 09/19/14, Broker Citibank N.A.		492,806
$	5,000,000	S&P 500 Index, One purchased call strike $1,650.2144, One written call strike $1,864.7422, One written put strike $47.6938 on WisdomTree Japan Hedged Equity Fund with a barrier level strike of $33.3857, Expires 07/18/14, Broker Citibank N.A.		526,533
$	21,800,000	S&P 500 Index, One purchased call strike $1,659.9035, One written call strike $1,859.0919, One written put strike $61.3945 on SPDR S&P Oil & Gas Exploration & Production ETF with a barrier level strike at $41.7483 ($10,000,000 notional amount), Expires 07/18/14, Broker Citibank N.A.		2,194,348
	2,847	S&P 500 Index, One purchased call strike $1,756.49, One written call strike $1,861.88, One written put strike $1,756.49 with a barrier level strike of $1,580.84 (654,002 contracts), Expires 12/19/14, Broker BNP Paribas SA(r)		333,629
$	15,100,000	S&P 500 Index, One purchased call strike $1,789.8608, One written put strike $38.1726 on iShares MSCI Emerging Markets Index Fund with a barrier level strike of $33.5919 ($10,000,000 notional amount), Expires 12/19/14, Broker Citibank N.A.(q)		743,569

Contracts/ Notional Amount ($)			Value
$	10,000,000	S&P 500 Index, One purchased call strike $1,790.45, One written put strike $1,790.45 with a barrier level strike of $1,594.40, Expires 11/21/14, Broker Citibank N.A.	$	496,870
$	5,375,000	S&P 500 Index, One purchased call strike $1,795.30, One written put strike $1,745.7454 with a barrier level strike of $1,615.77 ($5,000,000 notional amount), Expires 01/16/15, Broker Citibank N.A.(q)		247,791
$	25,912,500	S&P 500 Index, One purchased call strike $1,842.72, One written call strike $2,008.56, One written put strike $1,842.72 with a barrier level strike of $1,695.30 ($15,000,000 notional amount), Expires 03/20/15, Broker Citibank N.A.(q)		380,525
$	11,600,000	S&P 500 Index, One purchased call strike $1,854.59, One written put strike $1,854.59 with a barrier level strike of $1,706.2228 ($10,000,000 notional amount), Expires 04/17/15, Broker Citibank N.A.(q)		151,902
$	10,000,000	S&P 500 Index, One purchased call strike $1,857.00, One written put strike $1,857.00 with a barrier level strike of $1,668.5145, Expires 12/19/14, Broker Citibank N.A.		134,059
$	10,000,000	S&P 500 Index, One purchased call strike $1,857.75, One written put strike $1,857.75 with a barrier level strike of $1,662.68625, Expires 01/16/15, Broker Citibank N.A.		125,143
$	17,850,000	S&P 500 Index, One purchased call strike $1,866.11, One written put strike $1,866.11 with a barrier level strike of $1,716.8212 ($15,000,000 notional amount), Expires 05/15/15, Broker Citibank N.A.(q)		134,327
$	20,000,000	S&P 500 Index, One purchased call strike $1,868.20, One written put strike $1,868.20 with a barrier level strike of $1,587.97, Expires 06/19/15, Broker BNP Paribas SA		155,959

Contracts/ Notional Amount ($)			Value
$	15,000,000	S&P 500 Index, One purchased call strike $1,883.29, One written put strike $1,883.29 with a barrier level strike of $1,607.39, Expires 06/19/15, Broker Citibank N.A.	$	(11,395	)
	6,999	S&P 500 Index, One purchased call strike $1,428.75, One written call strike $1,600.20 One written put strike $1,428.75 with a barrier level strike of $1,071.56, Expires 05/16/14, Broker Goldman Sachs International		1,199,502
	6,999	S&P 500 Index, One purchased call strike $1,428.75, One written call strike $1,600.20, One written put strike $1,428.75 with a barrier level strike of $1,071.56, Expires 05/16/14, Broker Goldman Sachs International		(1,198,539	)
	6,435	S&P 500 Index, One purchased call strike $1,554.10, One written call strike $1,756.13, One written put strike $1,554.10 with a barrier level strike of $1,134.49, Expires 08/15/14, Broker UBS AG		1,185,833
	3,147	S&P 500 Index, One purchased call strike $1,588.75, One written call strike $1,842.95, One written put strike $1,588.75 with a barrier level strike of $1,175.68, Expires 08/15/14, Broker UBS AG		684,311
	9,370	S&P 500 Index, One purchased call strike $1,600.80, One written call strike $1,840.92, One written put strike $1,600.80 with a barrier level strike of $1,200.60, Expires 09/19/14, Broker Goldman Sachs International		1,822,383
	3,086	S&P 500 Index, One purchased call strike $1,620.22, One written call strike $1,798.45, One written put strike $1,620.22 with a barrier level strike of $1,198.97, Expires 09/19/14, Broker Credit Suisse International		456,211
	12,319	S&P 500 Index, One purchased call strike $1,623.45, One written call strike $1,834.4985, One written put strike $1,623.45 with a barrier level strike of $1,201.353, Expires 10/17/14, Broker JPMorgan Chase Bank N.A.		2,013,233

Contracts/ Notional Amount ($)			Value
	9,186	S&P 500 Index, One purchased call strike $1,632.87, One written call strike $1,894.1292, One written put strike $1,632.87 with a barrier level strike of $1,208.324, Expires 10/17/14, Broker JPMorgan Chase Bank N.A.	$	1,752,028
	3,054	S&P 500 Index, One purchased call strike $1,637.2681, One written call strike $1,882.8583, One written put strike $1,637.2681 with a barrier level strike of $1,146.0877, Expires 02/20/15, Broker Goldman Sachs International		475,508
	9,143	S&P 500 Index, One purchased call strike $1,640.70, One written call strike $1,870.40, One written put strike $1,640.70 with a barrier level strike of $1,197.711, Expires 11/21/14, Broker Goldman Sachs International		1,476,902
	12,091	S&P 500 Index, One purchased call strike $1,654.16, One written call strike $1,918.82, One written put strike $1,654.16 with a barrier level strike of $1,273.70, Expires 11/21/14, Broker Credit Suisse International		2,101,052
	6,044	S&P 500 Index, One purchased call strike $1,654.70, One written call strike $1,869.811, One written put strike $1,654.70 with a barrier level strike of $1,207.931, Expires 10/17/14, Broker Goldman Sachs International		943,780
	12,087	S&P 500 Index, One purchased call strike $1,654.70, One written call strike $1,886.358, One written put strike $1,654.70 with a barrier level strike of $1,257.572, Expires 11/21/14, Broker Goldman Sachs International		1,884,658
	3,016	S&P 500 Index, One purchased call strike $1,657.56, One written call strike $1,873.04, One written put strike $1,657.56 with a barrier level strike of $1,210.02, Expires 10/17/14, Broker UBS AG		468,555

Contracts/ Notional Amount ($)			Value
	18,097	S&P 500 Index, One purchased call strike $1,657.7316, One written call strike $1,856.6594 (12,065 contracts), One written put strike $53.6198 on WisdomTree Japan Hedged Equity Fund with a barrier level strike of $35.7466 (391,646 contracts), Expires 08/15/14, Broker Goldman Sachs International(r)	$	2,846,760
	5,625	S&P 500 Index, One purchased call strike $1,778.0724, One written put strike $1,778.0724 with a barrier level strike of $1,638.1381, Expires 08/15/14, Broker Goldman Sachs International		577,860
	4,718	S&P 500 Index, One purchased call strike $1,780.38, One written call strike $1,905.0066, One written put strike $1,780.38 with a barrier level strike of $1,602.342 (2,808 contracts), Expires 09/19/14, Broker JPMorgan Chase Bank N.A.(r)		323,002
	7,254	S&P 500 Index, One purchased call strike $1,788.76, One written call strike $1,896.09, One written put strike $1,788.76 with a barrier level strike of $1,609.88 (4,193 contracts), Expires 08/15/14, Broker Credit Suisse International(r)		459,797
	8,108	S&P 500 Index, One purchased call strike $1,825.35, One written call strike $2,007.89, One written put strike $1,825.35 with a barrier level strike of $1,697.58 (5,478 contracts), Expires 12/19/14, Broker Credit Suisse International(r)		369,575
	32,532	S&P 500 Index, One purchased call strike $1,844.35, One written put strike $1,844.35 with a barrier level strike of $1,677.44, Expires 10/17/14, Broker Credit Suisse International		1,343,579

Contracts/ Notional Amount ($)			Value
$	16,899,998	S&P 500 Index, One purchased call strike $1,865.83, One written call strike $2,033.7547, One written put strike $1,865.83 with a barrier level strike of $1,716.564 ($10,000,009 notional amount), Expires 05/15/15, Broker JPMorgan Chase Bank N.A.(q)	$	77,656
	11,592	S&P 500 Index, One purchased call strike $1,880.55, One written put strike $1,880.55 with a barrier level strike of $1,711.30 (10,635 contracts), Expires 02/20/15, Broker Credit Suisse International(r)		42,042
	6,906	S&P 500 Index, One purchased call strike $1,886.63, One written put strike $1,867.95 with a barrier level strike of $1,718.51 (5,353 contracts), Expires 07/17/15, Broker UBS AG(r)		31,772
	123,073	S&P 500 Index, One purchased call strike $2,055.691, One written put strike $3,014.7305 on Euro STOXX 50 Index (6,302 contracts), Expires 10/17/14, Broker Goldman Sachs International(r)		78,755
	6,435	S&P 500 Index, One written call strike $1,554.10, One purchased call strike $1,756.13, One purchased put strike $1,554.10 with a barrier level strike of $1,134.49, Expires 08/15/14, Broker Goldman Sachs International		(1,181,585	)
$	1,241,218	Select Sector Financial SPDR Fund, One purchased call strike $21.56, One written call strike $23.27, One written put strike $21.35 with a barrier level strike of $19.43 (468,384 contracts), Expires 06/19/15, Broker Credit Suisse International(r)		317,654
$	28,050,000	Select Sector Financial SPDR Fund, One purchased call strike $22.037, One written call strike $24.2407, One written put strike $22.037 with a barrier level strike of $20.274 ($15,000,000 notional amount), Expires 05/15/15, Broker JPMorgan Chase Bank N.A.(q)		(30,770	)

Contracts/ Notional Amount ($)			Value
	32,795	SPDR Dow Jones Industrial Average ETF Trust, One purchased call strike $152.46, One purchased put strike $152.46, One written put strike $91.0135 on iShares iBoxx High Yield Corporate Bond ETF with a barrier level strike of $77.361 (109,874 contracts), Expires 06/20/14, Broker JPMorgan Chase Bank N.A.	$	418,373
	146,470	SPDR Dow Jones Industrial Average ETF Trust, One purchased call strike $153.6151, One written call strike $162.832, One written put strike $153.6151 with a barrier level strike of $138.2536 (65,098 contracts), Expires 12/19/14, Broker Goldman Sachs International(r)		730,605
$	6,500,001	SPDR Dow Jones Industrial Average ETF Trust, One purchased call strike $156.73, One written put strike $58.82 on iShares MSCI South Korea Index Fund with a barrier level strike of $52.938 ($5,000,000 notional amount), Expires 06/20/14, Broker JPMorgan Chase Bank N.A.(q)		342,567
	119,075	SPDR Dow Jones Industrial Average ETF Trust, One purchased call strike $161.243, One written call strike $174.142, One written put strike $161.243 with a barrier level strike of $145.119 (62,018 contracts), Expires 03/20/15, Broker Credit Suisse International(r)		331,585
	215,301	SPDR S&P Dividend ETF , One purchased call strike $69.67, One written call strike $1,857.8622 on S&P 500 Index, One written put strike $63.5775 on SPDR S&P Oil & Gas Exploration & Production ETF with a barrier level strike of $39.3575 (165,153 contracts), Expires 06/30/14, Broker Goldman Sachs International(r)		1,002,502

Contracts/ Notional Amount ($)			Value
	317,619	SPDR S&P Dividend ETF , One purchased call strike $69.895, One written call strike $1,780.2069 on S&P Index, One written put strike $64.1729 on SPDR S&P Oil & Gas Exploration & Production ETF with a barrier level strike of $42.7819, with a barrier level strike of $42.7819 (163,621 contracts), Expires 07/18/14, Broker Goldman Sachs International	$	1,209,355
	331,658	SPDR S&P Homebuilders ETF, One purchased call strike $30.1515, One written call strike $34.0712, One written put strike $30.1515 with a barrier level strike of $21.7091, Expires 07/18/14, Broker Citibank N.A.		464,219
	617,431	SPDR S&P Homebuilders ETF, One purchased call strike $32.3923, One written call strike $35.6315, One written put strike $32.3923 with a barrier level strike of $19.4354, Expires 01/16/15, Broker Citibank N.A.		77,253
	359,998	SPDR S&P Homebuilders ETF, One purchased call strike $27.7779, One written call strike $33.3335, One written put strike $27.7779 with a barrier level strike of $19.4450, Expires 06/20/14, Broker JPMorgan Chase Bank N.A.		1,129,274
	339,055	Taiwan Stock Exchange Weighted Index, One purchased call strike $8,612.54, One written call strike $14.7487 on iShares MSCI Taiwan ETF Fund (6,941,280 contracts), One written put strike $14.0464 on iShares MSCI Taiwan ETF Fund with a barrier level strike of $12.6418 (355,963 contracts), Expires 01/05/15, Broker Goldman Sachs International(r)		(873,217	)

Contracts/ Notional Amount ($)			Value
	8,966	TOPIX 100 Index, One purchased call strike $1,115.29, One written call strike $1,260.28, One written put strike $934.20 on Russell 2000 Index with a barrier level strike of $700.65 (10,704 contracts), Expires 08/15/14, Broker Goldman Sachs International(r)	$	531,771
	8,868	TOPIX 100 Index, One purchased call strike $1,127.60, One written call strike $1,296.74, One written put strike $1,570.70 on S&P 500 Index with a barrier level strike of $1,178.025 (6,367 contracts), Expires 08/15/14, Broker Goldman Sachs International(r)		530,534
	17,540	TOPIX 100 Index, One purchased call strike $1,140.26, One written call strike $1,311.299, One written put strike $949.35 on Russell 2000 Index with a barrier level strike of $712.00 (21,067 contracts), Expires 08/15/14, Broker Goldman Sachs International(r)		895,963
	13,055	TOPIX 100 Index, One purchased call strike $1,148.97, One written call strike $1,321.32, One written put strike $1,563.83 on S&P 500 Index with a barrier level strike of $1,172.87 (9,592 contracts), Expires 09/19/14, Broker Goldman Sachs International(r)		688,858
	8,696	TOPIX 100 Index, One purchased call strike $1,150.00, One written call strike $1,357.00, One written put strike $1,581.18 on S&P 500 Index with a barrier level strike of $1,185.85 (6,325 contracts), Expires 09/19/14, Broker Goldman Sachs International(r)		486,489
	8,416	TOPIX 100 Index, One purchased call strike $1,188.34, One written call strike $1,427.00, One written put strike $980.30 on Russell 2000 Index with a barrier level strike of $725.422 (10,201 contracts), Expires 07/18/14, Broker Goldman Sachs International(r)		231,138

Contracts/ Notional Amount ($)			Value
	11,952	TOPIX 100 Index, One purchased call strike $1,255.00, One written call strike $1,568.75, One written put strike $986.55 on Russell 2000 Index with a barrier level strike of $739.9125 (15,205 contracts), Expires 10/17/14, Broker Goldman Sachs International(r)	$	130,893
	7,727	TOPIX 100 Index, One purchased call strike $1,294.17, One written call strike $1,514.18, One written put strike $907.50 on Russell 2000 Index with a barrier level strike of $630.712 (11,019 contracts), Expires 08/15/14, Broker Goldman Sachs International(r)		729,413
	10,661	TOPIX 100 Index, One purchased call strike $1,407.00, One written call strike $1,688.40, One written put strike $988.15 on Russell 2000 Index with a barrier level strike of $741.00 (15,180 contracts), Expires 10/17/14, Broker Goldman Sachs International(r)		442,580
$	10,000,000	TOPIX Index, One purchased call strike $1,080.30, One written call strike $1,242.345, One written put strike $1,558.85 on S&P 500 Index with a barrier level strike of $1,200.315, Expires 07/11/14, Broker JPMorgan Chase Bank N.A.		776,055
	6,332	TOPIX Index, One purchased call strike $1,359.60, One written call strike $1,563.54, One written put strike $1,579.31 on S&P 500 Index with a barrier level strike of $1,184.48, Expires 09/19/14, Broker UBS AG		498,976
$	14,200,000	USD/CAD foreign exchange rate, One purchased call strike $1.07, One written call strike $1.13, One written put strike $1.065 with a barrier level strike of $1.03 ($10,000,000 notional amount), Expires 12/31/14, Broker JPMorgan Chase Bank N.A.(q)		309,139

Contracts/ Notional Amount ($)			Value
$	14,000,000	USD/CAD foreign exchange rate, One purchased call strike $1.075, One written call strike $1.125, One written put strike $1.0585 with a barrier level strike of $1.005 ($10,000,000 notional amount), Expires 11/26/14, Broker Goldman Sachs International(q)	$	275,740
$	7,600,000	USD/CAD foreign exchange rate, One purchased call strike $1.075, One written call strike $1.125, One written put strike $1.0585 with a barrier level strike of $1.005 ($5,000,000 notional amount), Expires 11/26/14, Broker Goldman Sachs International(q)		150,565
$	7,400,000	USD/CAD foreign exchange rate, One purchased call strike $1.0752, One written call strike $1.1323, One written put strike $1.0644 with a barrier level strike of $1.0137 ($5,000,000 notional amount), Expires 12/08/14, Broker JPMorgan Chase Bank N.A.(q)		152,049
$	66,500,000	USD/EUR foreign exchange rate, One purchased call strike $1.33, One written put strike $1.33, Expires 10/06/14, Broker Goldman Sachs International		321,169
$	17,200,000	USD/EUR foreign exchange rate, One purchased call strike $1.37, One written call strike $1.28, One written put strike $1.375 with a barrier level strike of $1.42 ($10,000,000 notional amount), Expires 12/15/14, Broker Goldman Sachs International(q)		(36,434	)
$	17,300,000	USD/EUR foreign exchange rate, One purchased call strike $1.375, One written call strike $1.29, One written put strike $1.3805 with a barrier level strike of $1.425 ($10,000,000 notional amount), Expires 12/02/14, Broker Goldman Sachs International(q)		5,031

Contracts/ Notional Amount ($)			Value
$	16,500,000	USD/EUR foreign exchange rate, One purchased call strike $1.38, One written call strike $1.30, One .written put strike $1.38 with a barrier level strike of $1.44 ($10,000,000 notional amount), Expires 05/15/15, Broker JPMorgan Chase Bank N.A.(q)	$	6,709
$	42,250,000	USD/EUR foreign exchange rate, One purchased call strike $1.39, One written call strike $1.30, One written put strike $1.39 with a barrier level strike of $1.44 ($30,000,000 notional amount), Expires 04/17/15, Broker Goldman Sachs International(q)		133,330
$	14,700,000	USD/JPY foreign exchange rate, One purchased call strike $101.50, One written call strike $107.50, One written put strike $101.50 with a barrier level strike of $95.50 ($10,000,000 notional amount), Expires 05/11/15, Broker JPMorgan Chase Bank N.A.(q)		84,652
$	23,100,000	USD/JPY foreign exchange rate, One purchased call strike $101.75, One written call strike $108.00, One written put strike $102.00 with a barrier level strike of $96.00 ($15,000,000 notional amount), Expires 06/15/15, Broker JPMorgan Chase Bank N.A.(q)		30,263
$	42,300,000	USD/JPY foreign exchange rate, One purchased call strike $102.00, One written call strike $108.00, One written put strike $101.75 with a barrier level strike of $96.00 ($30,000,000 notional amount), Expires 04/13/15, Broker JPMorgan Chase Bank N.A.(q)		49,738
$	28,800,000	USD/JPY foreign exchange rate, One purchased call strike $102.00, One written call strike $108.00, One written put strike $101.90 with a barrier level strike of $96.00 ($20,000,000 notional amount), Expires 04/09/15, Broker JPMorgan Chase Bank N.A.(q)		117,844

Contracts/ Notional Amount ($)			Value
$	15,800,000	USD/JPY foreign exchange rate, One purchased call strike $102.50, One written call strike $110.00, One written put strike $102.50 with a barrier level strike of $98.00 ($10,000,000 notional amount), Expires 07/24/15, Broker Goldman Sachs International(q)	$	(36,134	)
$	15,000,000	Vanguard FTSE Europe ETF, One purchased call strike $53.9039, One written call strike $63.6066, One written put strike $53.9039 with a barrier level strike of $37.7327, Expires 02/20/15, Broker Citibank N.A. N.A.		1,291,715
$	5,000,000	Vanguard FTSE Europe ETF, One purchased call strike $53.963, One written call strike $62.5971, One written put strike $53.963 with a barrier level strike of $37.7741, Expires 12/19/14, Broker Citibank N.A.		440,081
$	15,000,000	Vanguard FTSE Europe ETF, One purchased call strike $54.5083, One written call strike $62.6846, One written put strike $54.5083 with a barrier level strike of $39.246, Expires 12/19/14, Broker Citibank N.A.		1,200,640
	360,234	Vanguard FTSE Europe ETF, One purchased call strike $55.5194, One written call strike $63.8473, One written put strike $55.5194 with a barrier level strike of $38.864, Expires 01/16/15, Broker JPMorgan Chase Bank N.A.		1,210,324
	178,432	Vanguard FTSE Europe ETF, One purchased call strike $56.0437, One written call strike $65.5711, One written put strike $56.0437 with a barrier level strike of $39.791, Expires 03/20/15, Broker Goldman Sachs International		605,211
	298,216	Vanguard FTSE Europe ETF, One purchased call strike $57.0058, One written call strike $60.4261, One written put strike $57.0058 with a barrier level strike of $51.8753 (175,421 contracts), Expires 06/20/14, Broker Goldman Sachs International(r)		732,456

Contracts/ Notional Amount ($)			Value
	231,433	Vanguard FTSE Europe ETF, One purchased call strike $58.51, One written call strike $61.95, One written put strike $57.36 with a barrier level strike of $51.62 (130,753 contracts), Expires 05/16/14, Broker Credit Suisse International (r)	$	495,459
$	15,800,000	Vanguard FTSE Europe ETF, One purchased call strike $58.7115, One written put strike $58.7115 with a barrier level strike of $52.84 ($10,000,000 notional amount), Expires 10/17/14, Broker JPMorgan Chase Bank N.A.(q)		530,959
	221,603	WisdomTree Japan Hedged Equity Fund, One purchased call strike $45.1258, One written call strike $52.3459, One written put strike $45.1258 with a barrier level strike of $27.978, Expires 11/21/14, Broker Goldman Sachs International		505,842
	218,293	WisdomTree Japan Hedged Equity Fund, One purchased call strike $45.81, One written call strike $53.1396, One written put strike $45.81 with a barrier level strike of $32.067, Expires 12/19/14, Broker Goldman Sachs International		324,424
	106,193	WisdomTree Japan Hedged Equity Fund, One purchased call strike $47.084, One written call strike $54.1466, One written put strike $47.084 with a barrier level strike of $31.546, Expires 03/20/15, Broker JPMorgan Chase Bank N.A.		69,472
	210,128	WisdomTree Japan Hedged Equity Fund, One purchased call strike $47.59, One written call strike $55.68, One written put strike $47.59 with a barrier level strike of $32.36, Expires 01/16/15, Broker UBS AG		125,350

Contracts/ Notional Amount ($)			Value
	209,461	WisdomTree Japan Hedged Equity Fund, One purchased call strike $47.7416, One written call strike $55.3803, One written put strike $47.7416 with a barrier level strike of $32.942, Expires 02/20/15, Broker JPMorgan Chase Bank N.A.	$	86,355
	469,110	WisdomTree Japan Hedged Equity Fund, One purchased call strike $47.75, One written call strike $51.0925, One written put strike $47.75 with a barrier level strike of $42.975 (209,424 contracts), Expires 11/21/14, Broker JPMorgan Chase Bank N.A.(r)		(130,979	)
	208,943	WisdomTree Japan Hedged Equity Fund, One purchased call strike $47.86, One written call strike $56.47, One written put strike $47.86 with a barrier level strike of $33.50, Expires 03/20/15, Broker UBS AG		(12,337	)
	398,935	WisdomTree Japan Hedged Equity Fund, One purchased call strike $47.9401, One written call strike $51.2959, One written put strike $47.9401 with a barrier level strike of $43.1461 (156,445 contracts), Expires 01/16/15, Broker Goldman Sachs International(r)		(240,505	)
	104,232	WisdomTree Japan Hedged Equity Fund, One purchased call strike $47.97, One written call strike $56.12, One written put strike $47.97 with a barrier level strike of $32.62, Expires 07/18/14, Broker UBS AG		81,011
	204,583	WisdomTree Japan Hedged Equity Fund, One purchased call strike $48.88, One written call strike $57.68, One written put strike $48.88 with a barrier level strike of $35.19, Expires 02/20/15, Broker UBS AG		(203,728	)

Contracts/ Notional Amount ($)			Value
	203,253	WisdomTree Japan Hedged Equity Fund, One purchased call strike $49.20, One written call strike $57.564, One written put strike $49.20 with a barrier level strike of $36.408, Expires 10/17/14, Broker Goldman Sachs International	$	(114,423	)
	302,115	WisdomTree Japan Hedged Equity Fund, One purchased call strike $49.65, One written call strike $59.58, One written put strike $49.65 with a barrier level strike of $34.76, Expires 10/17/14, Broker UBS AG		(26,176	)
	200,945	WisdomTree Japan Hedged Equity Fund, One purchased call strike $49.7649, One written call strike $58.2249, One written put strike $49.7649 with a barrier level strike of $34.8354, Expires 04/17/15, Broker Goldman Sachs International		(307,320	)
	249,634	WisdomTree Japan Hedged Equity Fund, One purchased call strike $50.0733, One written call strike $54.0792, One written put strike $50.0733 with a barrier level strike of $45.066 (99,854 contracts), Expires 10/17/14, Broker Goldman Sachs International(r)		(251,224	)
$	16,588,600	WisdomTree Japan Hedged Equity Fund, One purchased call strike $50.1098, One written call strike $53.1164, One written put strike $50.1098 with a barrier level strike of $45.0988 ($5,740,000 notional amount), Expires 08/15/14, Broker Citibank N.A.(q)		(247,379	)
	198,137	WisdomTree Japan Hedged Equity Fund, One purchased call strike $50.47, One written call strike $63.09, One written put strike $50.47 with a barrier level strike of $37.85, Expires 11/21/14, Broker UBS AG		(298,861	)
	113,173	WisdomTree Japan Hedged Equity Fund, One purchased put strike $44.18 with a barrier level strike of $27.83, Expires 09/19/14, Broker Citibank N.A.		25,074

Contracts/ Notional Amount ($)			Value
	104,800	WisdomTree Japan Hedged Equity Fund, One written put strike $47.71 with a barrier level strike of $29.58, Expires 09/19/14, Broker Goldman Sachs International	$	(43,394	)
	104,210	WisdomTree Japan Hedged Equity Fund, One written put strike $47.98 with a barrier level strike of $28.788, Expires 09/19/14, Broker Goldman Sachs International		(38,330	)
Total Structured Options (Premiums received $(25,830,020))				113,989,786

FUTURES CONTRACTS: LONG POSITION

Contracts						Unrealized Appreciation
	321			Chicago Mercantile Exchange E-Mini S&P 500 Futures, June 2014		$	134,776

Cash collateral of $1,745,325 for the open futures contracts is reflected in segregated cash for futures contracts in the Statements of Assets and Liabilities.

	Unrealized Appreciation (Depreciation)
SWAP AGREEMENTS (PURCHASED) Equity swap with UBS AG receiving variance of the S&P 500 Index over the target volatility of 28.60 and paying variance of the S&P 500 Index under the target volatility of 28.60, expiring 12/18/15 (Underlying notional amount $500,000)	$	(5,056,614	)
Volatility swap with JPMorgan Chase Bank N.A. receiving an amount if the volatility of EUR/USD foreign exchange rate is over 7.05% and paying an amount if the volatility of EUR/USD foreign exchange rate is under 7.05%, expiring 05/01/15 (Underlying vega amount $250,000)		8,676

	Unrealized
	Appreciation
	(Depreciation)
Volatility swap with JPMorgan Chase Bank N.A. receiving an amount if the volatility of USD/EUR foreign exchange rate is over 7.40% and paying an amount if the volatility of USD/EUR foreign exchange rate is under 7.40%, expiring 04/08/15 (Underlying vega amount $500,000)	$	(207,870	)

	$	(5,255,808	)

	Unrealized Appreciation/ (Depreciation)
SWAP AGREEMENTS (WRITTEN)
Dividend swap with BNP Paribas SA receiving a payment if the dividends on the stocks in the STOXX50E Index are over the target value of 139 Euro and paying a payment if the dividends on the stocks in the STOXX50E Index are under the target value of 139 Euro, expiring 12/18/15 (Underlying notional amount Euro 100,000)(c)(s)	$	(3,650,263	)
Equity swap with Goldman Sachs International paying total return of the WisdomTree Japan Hedged Equity Fund over the initial equity level of 44.9581 and receiving total return of the WisdomTree Japan Hedged Equity Fund under the initial equity level of 44.9581, expiring 06/03/20 (Underlying notional amount $15,038,484)		187,860
Interest rate swap with JPMorgan Chase Bank N.A. receiving a fixed rate of 3.018% and paying a floating rate based on 3-month LIBOR, expiring 08/22/23 (Underlying notional amount $15,940,000)		(815,982	)
Interest rate swap with JPMorgan Chase Bank N.A. receiving a fixed rate of 3.848% and paying a floating rate based on 3-month LIBOR, expiring 08/22/43 (Underlying notional amount $9,110,000)		(788,586	)
Variance swap with JPMorgan Chase Bank N.A. paying variance of the S&P 500 Index over the target volatility of 33.05 and receiving variance of the S&P 500 Index under the target volatility of 33.05, expiring 12/18/15 (Underlying Vega amount $500,000)		6,092,167

	Unrealized Appreciation/ (Depreciation)
Variance swap with JPMorgan Chase Bank N.A. paying variance of the S&P 500 Index over the target volatility of 33.05 and receiving variance of the S&P 500 Index under the target volatility of 33.05, expiring 12/20/19 (Underlying Vega notional amount $500,000)	$	4,941,300
	$	5,966,496

At April 30, 2014, the Stategic Oportunities Fund held investments in restricted securities with a fair value of $3,600,000 or 0.07% of net assets, as follows:

			04/30/14
Acquisition		Acquisition	Carrying Value
Cost	Issuer	Date	Per Unit
$12,125,000	ShengdaTech, Inc., Cnv.(b)(c)(d)(e)(j)	01/19/11	$30.00

(a)	Cost for federal income tax purposes is $5,274,818,987 and net unrealized appreciation of investments is as follows:

Unrealized appreciation	$	268,044,953
Unrealized depreciation		(68,023,634	)
Net unrealized appreciation	$	200,021,319

(b)	Non-income producing security.
(c)	This security is considered either fully or partially illiquid. These securities, or portions thereof have a value of $87,729,071 or 1.59% of net assets. Included in this amount are securities which are also exempt from registration under Rule 144A of the Securities Act of 1933, as amended (see (i) below) that amount to $5,920,625 or 0.11% of net assets.
(d)	Fair valued security under procedures established by the Fund’s Board of Directors. The aggregate value of fair valued securities is $6,108,599, which is 0.11% of net assets.
(e)	Issuer filed for bankruptcy and/or is in default of interest payments.
(f)	Security offered and sold outside of the United States, and this is exempt from registration under Regulation S of the Securities Act of 1933. It has been deemed liquid under guidelines approved by the Board.
(g)	Principal amount denoted in Singapore Dollars.
(h)	Zero coupon bond. The rate represents the yield at time of purchase.
(i)	Security exempt from registration under Rule 144A of the Securities Act of 1933, as amended. The security may be resold in transactions exempt from registration normally to qualified institutional buyers. The aggregate value is $254,745,414, which is 4.62% of net assets. These securities have been determined to be liquid in accordance with procedures adopted by the Fund’s Board of Directors except

	those also included in footnote (c) above.
(j)	Principal amount denoted in Euros.
(k)	Investment in non-U.S. Dollars. Principal amount reflects local currency.
(l)	Principal amount denoted in British Pounds.
(m)	Variable rate security. Rate shown is the rate as of April 30, 2014.
(n)	Payment-in-kind (“PIK”) security. Income may be paid in additional securities or cash at the discretion of the issuer.
(o)	The rate represents the annualized yield at time of purchase.
(p)	Rate shown represents current yield at April 30, 2014.
(q)	Notional Amount is shown parenthetically for any leg of Structured Option which has a different notional amount than the amount shown under Notional Amount column
(r)	Number of contracts are shown parenthetically for any leg of Structured Option which has a different number of contracts than the amount shown under contracts column.
(s)	This derivative is considered either fully or partially illiquid. The swap position has a notional value of $15,633,866 and an unrealized depreciation of $3,650,263.

CAD — Canadian Dollar

Cnv. — Convertible

ETF — Exchange Traded Fund

EUR — Euro

LIBOR — London Interbank Offered Rate

REIT — Real Estate Investment Trust

STEP — Step Coupon Bond

Portfolio diversification by Sector (Unaudited)

Sector	Percentage of Net Assets
Asset-Backed Securities		3.2	%
Banks		1.1	%
Collateralized Mortgage Obligations		12.6	%
Commercial Mortgage-Backed Securities		0.4	%
Consumer Discretionary		3.5	%
Consumer Staples		2.4	%
Diversified Financials		1.7	%
Energy		2.2	%
Government Bonds		4.9	%
Health Care		3.6	%
Industrials		3.2	%
Information Technology		3.8	%
Insurance		1.6	%
Materials		1.8	%
Real Estate		1.1	%
Telecommunication Services		1.5	%
U.S. Government Agencies and Securities		44.4	%
Utilities		0.8	%
Other*		6.2	%
		100.0	%

*	Includes cash and equivalents, closed-end funds, exchange traded funds, options, futures, swap agreements, pending trades and Fund share transactions, interest and dividends receivable, prepaids and accrued expenses payable.

Shares			Value
COMMON STOCKS — 18.6%
CANADA — 1.6%
Energy — 1.6%
	2,150,000	Athabasca Oil Corp.(b)	$	15,967,337
UNITED KINGDOM — 3.1%
Energy — 3.1%
	2,000,000	Tullow Oil Plc		29,715,682
UNITED STATES — 13.9%
Consumer Staples — 0.6%
	150,000	Archer-Daniels-Midland Co.		6,559,500
Energy — 7.8%
	375,000	Boardwalk Pipeline Partners LP(b)		5,988,750
	225,000	Chevron Corp.		28,242,000
	182,000	Exxon Mobil Corp.		18,638,620
	235,000	Range Resources Corp.		21,255,750
	50,000	Stone Energy Corp.(b)		2,452,500
				76,577,620
Industrials — 0.6%
	100,000	Jacobs Engineering Group, Inc.(b)		5,770,000
Materials — 2.0%
	175,000	Monsanto Co.		19,372,500
Real Estate — 2.9%
	450,000	St. Joe Co. (The)(b)(c)		8,032,500
	680,000	Weyerhaeuser Co., REIT		20,298,000
				28,330,500
				136,610,120
Total Common Stocks (Cost $181,003,424)				182,293,139

Number of
Coins
COLLECTIBLE COINS — 2.9%
UNITED STATES — 2.9%
	18	Various Collectible Coins and Sets of Coins(c)		28,502,422
Total Collectible Coins (Cost $26,972,152)				28,502,422

Fine Troy
Ounces
COMMODITIES — 3.9%
UNITED STATES — 3.9%
	29,985	Gold Bullion		38,727,490
Total Commodities (Cost $27,728,889)				38,727,490

Contracts			Value
CALL OPTIONS PURCHAtSED — 1.1%
Commodities — 1.1%
	300	Chicago Mercantile Exchange Lean Hogs Futures, Strike $100.00, Expiring 12/12/14	$	333,000
	500	Chicago Mercantile Exchange Lean Hogs Futures, Strike $112.00, Expiring 10/14/14		490,000
	400	Intercontinental Exchange Coffee C Futures, Strike $250.00, Expiring 08/08/14		1,903,500
	500	Intercontinental Exchange Sugar No. 11 Futures, Strike $18.50, Expiring 09/15/14		509,600
	300	London Metal Exchange Nickel Futures, Strike $20,000.00, Expiring 12/03/14		1,637,100
	1,000	London Metal Exchange Nickel Futures, Strike $25,000.00, Expiring 06/03/15		2,692,680
	200	London Metal Exchange Nickel Futures, Strike $40,000.00, Expiring 12/02/15		55,548
	500	New York Mercantile Exchange Henry Hub Natural Gas Futures, Strike $4.70, Expiring 06/25/14		1,477,500
	900	New York Mercantile Exchange Henry Hub Natural Gas Futures, Strike $5.00, Expiring 06/25/14		1,440,000
	250	New York Mercantile Exchange Platinum Futures, Strike $1,500.00, Expiring 06/18/14		146,250
Total Call Options Purchased (Cost $6,624,920)				10,685,178
PUT OPTIONS PURCHASED — 0.4%
Commodities — 0.4%
	100	Chicago Mercantile Exchange Live Cattle Futures, Strike $132.00, Expiring 06/06/14		12,000
	600	Intercontinental Exchange Coffee C Futures, Strike $180.00, Expiring 08/08/14		2,049,750
	500	London Metal Exchange Nickel Futures, Strike $17,000.00, Expiring 06/04/14		594,960
	175	New York Mercantile Exchange Crude Oil Futures, Strike $100.00, Expiring 05/15/14		273,000
	1,000	New York Mercantile Exchange Henry Hub Natural Gas Futures, Strike $4.50, Expiring 06/25/14		817,000
Total Put Options Purchased (Cost $6,856,850)				3,746,710

Principal
Amount			Value
ASSET-BACKED SECURITIES — 3.5%
UNITED STATES — 3.5%
$	35,000,000	GCO Education Loan Funding Trust, Series 2003-2, Class A5AR, 2.03%, 09/01/40(d)	$	34,146,000
Total Asset-Backed Securities (Cost $34,226,119)				34,146,000
U.S. GOVERNMENT AGENCIES — 62.6%
Federal Home Loan Bank — 62.6%
	25,600,000	0.05%, 05/01/14(e)		25,600,000
	55,000,000	0.01%, 05/02/14(e)		54,999,985
	4,000,000	0.01%, 05/07/14(e)		3,999,993
	69,000,000	0.04%, 05/07/14(e)		68,999,540
	10,000,000	0.09%, 05/07/14(e)		9,999,858
	55,000,000	0.10%, 05/09/14(e)		54,998,839
	10,000,000	0.02%, 05/14/14(e)		9,999,928
	29,000,000	0.04%, 05/14/14(e)		28,999,582
	101,000,000	0.04%, 05/16/14(e)		100,998,227
	2,500,000	0.02%, 05/21/14(e)		2,499,972
	30,000,000	0.04%, 05/21/14(e)		29,999,333
	95,000,000	0.05%, 05/21/14(e)		94,997,625
	88,000,000	0.02%, 05/28/14(e)		87,998,680
	40,000,000	0.04%, 06/24/14(e)		39,997,600
Total U.S. Government Agencies (Cost $614,089,162)				614,089,162
U.S. GOVERNMENT SECURITIES — 6.1%
U.S. Treasury Bills — 6.1%
	60,000,000	0.02%, 05/29/14(e)		59,999,300
Total U.S. Government Securities (Cost $59,999,300)				59,999,300

Shares
CASH SWEEP — 0.9%
	8,848,920	Citibank - US Dollars on Deposit in Custody Account, 0.02%(f)		8,848,920
Total Cash Sweep (Cost $8,848,920)				8,848,920
TOTAL INVESTMENTS — 100.0% (Cost $966,349,736)(a)				981,038,321
OTHER ASSETS IN EXCESS OF LIABILITIES — 0.0%				449,336
NET ASSETS — 100.0%			$	981,487,657

Contracts				Value
CALL OPTIONS WRITTEN — (0.1)%
Commodities — (0.1)%
	(500	)	Intercontinental Exchange Sugar No. 11 Futures, Strike $25.00, Expiring 09/15/14	$	(50,400	)
	(500	)	London Metal Exchange Nickel Futures, Strike $20,500.00, Expiring 07/01/14		(730,740	)
	(250	)	New York Mercantile Exchange Henry Hub Natural Gas Futures, Strike $5.35, Expiring 06/25/14		(187,000	)
	(250	)	New York Mercantile Exchange Platinum Futures, Strike $1,600.00, Expiring 06/18/14		(27,500	)
Total Call Options Written (Premiums received $(1,032,700))					(995,640	)
PUT OPTIONS WRITTEN — (0.7)%
Commodities — (0.7)%
	(1,499	)	Chicago Board of Trade Corn No. 2 Futures, Strike $420.00, Expiring 11/21/14		(590,231	)
	(500	)	Chicago Mercantile Exchange Live Cattle Futures, Strike $130.00, Expiring 12/05/14		(125,000	)
	(650	)	Intercontinental Exchange Coffee C Futures, Strike $200.00, Expiring 08/08/14		(4,621,500	)
	(350	)	Intercontinental Exchange Sugar No. 11 Futures, Strike $17.00, Expiring 09/15/14		(156,800	)
	(500	)	Intercontinental Exchange Sugar No. 11 Futures, Strike $17.00, Expiring 09/15/14		(224,000	)
	(500	)	London Metal Exchange Nickel Futures, Strike $15,500.00, Expiring 07/01/14		(282,840	)
	(50	)	New York Mercantile Exchange Henry Hub Natural Gas Futures, Strike $3.50, Expiring 01/26/16		(49,000	)
	(50	)	New York Mercantile Exchange Henry Hub Natural Gas Futures, Strike $3.50, Expiring 02/24/16		(63,700	)
	(50	)	New York Mercantile Exchange Henry Hub Natural Gas Futures, Strike $3.50, Expiring 03/28/16		(65,050	)
	(50	)	New York Mercantile Exchange Henry Hub Natural Gas Futures, Strike $3.50, Expiring 04/26/16		(66,550	)
	(50	)	New York Mercantile Exchange Henry Hub Natural Gas Futures, Strike $3.50, Expiring 05/25/16		(67,850	)

Contracts				Value
Commodities (continued)
	(50	)	New York Mercantile Exchange Henry Hub Natural Gas Futures, Strike $3.50, Expiring 06/27/16	$	(68,750	)
	(50	)	New York Mercantile Exchange Henry Hub Natural Gas Futures, Strike $3.50, Expiring 07/26/16		(70,300	)
	(50	)	New York Mercantile Exchange Henry Hub Natural Gas Futures, Strike $3.50, Expiring 08/26/16		(73,650	)
	(50	)	New York Mercantile Exchange Henry Hub Natural Gas Futures, Strike $3.50, Expiring 09/27/16		(74,200	)
	(50	)	New York Mercantile Exchange Henry Hub Natural Gas Futures, Strike $3.50, Expiring 10/26/16		(73,250	)
	(50	)	New York Mercantile Exchange Henry Hub Natural Gas Futures, Strike $3.50, Expiring 11/25/16		(64,300	)
	(50	)	New York Mercantile Exchange Henry Hub Natural Gas Futures, Strike $3.50, Expiring 12/28/15		(43,250	)
Total Put Options Written (Premiums received $(8,851,251))				$	(6,780,221	)

FUTURES CONTRACTS: SHORT POSITIONS

			Unrealized
			Appreciation/
Contracts			(Depreciation)
	1,500	Intercontinental Exchange Brent Crude Oil, June 2014	$	135,000
	90	London Metal Exchange Copper, June 2014		(26,212	)
	100	London Metal Exchange Lead, June 2014		74,075
	580	London Metal Exchange Zinc, June 2014		(323,410	)
	1,000	Intercontinental Exchange Brent Crude Oil, December 2014		322,500
	250	New York Mercantile Exchange Natural Gas, March 2015		(548,500	)
	10	New York Mercantile Exchange Natural Gas, January 2016		(37,400	)
	10	New York Mercantile Exchange Natural Gas, February 2016		(35,100	)
	10	New York Mercantile Exchange Natural Gas, March 2016		(28,900	)
	10	New York Mercantile Exchange Natural Gas, April 2016		(400	)
	10	New York Mercantile Exchange Natural Gas, May 2016		(1,800	)

FUTURES CONTRACTS: SHORT POSITIONS (Concluded)

			Unrealized
			Appreciation/
Contracts			(Depreciation)
	10	New York Mercantile Exchange Natural Gas, June 2016	$	(4,200	)
	10	New York Mercantile Exchange Natural Gas, July 2016		(6,700	)
	10	New York Mercantile Exchange Natural Gas, August 2016		(7,900	)
	10	New York Mercantile Exchange Natural Gas, September 2016		(7,400	)
	10	New York Mercantile Exchange Natural Gas, October 2016		(10,000	)
	10	New York Mercantile Exchange Natural Gas, November 2016		(15,800	)
	10	New York Mercantile Exchange Natural Gas, December 2016		(30,900	)
	10	New York Mercantile Exchange Natural Gas, January 2017		(38,700	)
	10	New York Mercantile Exchange Natural Gas, February 2017		(36,700	)
	10	New York Mercantile Exchange Natural Gas, March 2017		(30,700	)
	10	New York Mercantile Exchange Natural Gas, April 2017		(3,700	)
	10	New York Mercantile Exchange Natural Gas, May 2017		(4,700	)
	10	New York Mercantile Exchange Natural Gas, June 2017		(6,900	)
	10	New York Mercantile Exchange Natural Gas, July 2017		(9,400	)
	10	New York Mercantile Exchange Natural Gas, August 2017		(10,900	)
	10	New York Mercantile Exchange Natural Gas, September 2017		(10,300	)
	10	New York Mercantile Exchange Natural Gas, October 2017		(12,700	)
	10	New York Mercantile Exchange Natural Gas, November 2017		(20,700	)
	10	New York Mercantile Exchange Natural Gas, December 2017		(37,900	)
		Net unrealized depreciation	$	(776,347	)

FUTURES CONTRACTS: LONG POSITIONS

			Unrealized
			Appreciation/
Contracts			(Depreciation)
	100	London Metal Exchange Nickel, May 2014	$	2,357,559
	400	Chicago Mercantile Exchange Live Cattle, June 2014		52,197
	500	Intercontinental Exchange Brent Crude Oil, June 2014		(247,500	)
	1,000	Intercontinental Exchange Brent Crude Oil, June 2014		(130,000	)
	500	Intercontinental Exchange Brent Crude Oil, June 2014		122,500
	1,500	Intercontinental Exchange Brent Crude Oil, June 2014		(310,000	)

FUTURES CONTRACTS: LONG POSITIONS (Continued)

			Unrealized
			Appreciation/
Contracts			(Depreciation)
	175	London Metal Exchange Copper, June 2014	$	893,750
	450	London Metal Exchange Lead, June 2014		707,188
	580	London Metal Exchange Zinc, June 2014		978,750
	175	New York Mercantile Exchange Crude Oil, June 2014		858,750
	375	New York Mercantile Exchange Palladium, June 2014		3,618,875
	250	Intercontinental Exchange Brent Crude Oil, July 2014		(50,000	)
	1,000	Intercontinental Exchange Cotton No. 2, July 2014		1,128,020
	210	New York Mercantile Exchange Platinum, July 2014		33,477
	500	NYSE Liffe Robusta Coffee, July 2014		(28,670	)
	150	New York Mercantile Exchange Natural Gas, August 2014		885,000
	250	Intercontinental Exchange Coffee C, September 2014		(679,688	)
	150	New York Mercantile Exchange Natural Gas, September 2014		795,720
	94	Chicago Mercantile Exchange Lean Hogs, October 2014		542,440
	150	Chicago Mercantile Exchange Live Cattle, October 2014		383,130
	1,880	New York Mercantile Exchange Natural Gas, October 2014		6,669,841
	150	Chicago Mercantile Exchange Live Cattle, December 2014		365,184
	400	Intercontinental Exchange Cotton No. 2, December 2014		258,270
	400	London Metal Exchange Nickel, December 2014		5,726,400
	140	New York Mercantile Exchange Crude Oil, December 2014		700,850
	20	Intercontinental Exchange Rotterdam Coal, January 2015		(14,250	)
	20	Intercontinental Exchange Rotterdam Coal, February 2015		(14,250	)
	20	Intercontinental Exchange Rotterdam Coal, March 2015		(14,250	)
	20	Intercontinental Exchange Rotterdam Coal, April 2015		6,750
	250	New York Mercantile Exchange Natural Gas, April 2015		343,400
	20	Intercontinental Exchange Rotterdam Coal, May 2015		6,750
	20	Intercontinental Exchange Rotterdam Coal, June 2015		6,750
	20	Intercontinental Exchange Rotterdam Coal, July 2015		30,750
	20	Intercontinental Exchange Rotterdam Coal, August 2015		30,750

FUTURES CONTRACTS: LONG POSITIONS (Continued)

			Unrealized
			Appreciation/
Contracts			(Depreciation)
	20	Intercontinental Exchange Rotterdam Coal, September 2015	$	30,750
	20	Intercontinental Exchange Rotterdam Coal, October 2015		53,750
	20	Intercontinental Exchange Rotterdam Coal, November 2015		53,750
	475	Intercontinental Exchange Brent Crude Oil, December 2015		16,840
	20	Intercontinental Exchange Rotterdam Coal, December 2015		53,750
	300	New York Mercantile Exchange Crude Oil, December 2016		716,000
	60	New York Mercantile Exchange Natural Gas, January 2018		136,450
	60	New York Mercantile Exchange Natural Gas, February 2018		124,450
	60	New York Mercantile Exchange Natural Gas, March 2018		88,450
	60	New York Mercantile Exchange Natural Gas, April 2018		(67,550	)
	60	New York Mercantile Exchange Natural Gas, May 2018		(60,350	)
	60	New York Mercantile Exchange Natural Gas, June 2018		(47,750	)
	60	New York Mercantile Exchange Natural Gas, July 2018		(32,150	)
	60	New York Mercantile Exchange Natural Gas, August 2018		(23,750	)
	60	New York Mercantile Exchange Natural Gas, September 2018		(22,550	)
	60	New York Mercantile Exchange Natural Gas, October 2018		(7,550	)
	60	New York Mercantile Exchange Natural Gas, November 2018		48,250
	60	New York Mercantile Exchange Natural Gas, December 2018		155,650
		Net unrealized appreciation	$	27,230,883

Net cash collateral of $23,848,085 for the open futures contracts is reflected in segregated cash for futures contracts in the Statements of Assets and Liabilities.

	Unrealized
	Appreciation/
	(Depreciation)
SWAP AGREEMENTS (PURCHASED)
Commodity Index Swap Agreement with Cargill, Inc. based on the Baltic Capesize Freight Index (“BCI”) paying a fixed amount per day and receiving the arithmetic average of the rates for BCI Routes published by the Baltic Exchange, expiring 01/31/15 (Underlying notional amount $3,531,510)	$	1,214,490
Commodity Index Swap Agreement with Cargill, Inc. based on the Baltic Capesize Freight Index (“BCI”) paying a fixed amount per day and receiving the arithmetic average of the rates for BCI Routes published by the Baltic Exchange, expiring 02/28/15 (Underlying notional amount $3,531,510)		1,214,490
Commodity Index Swap Agreement with Cargill, Inc. based on the Baltic Capesize Freight Index (“BCI”) paying a fixed amount per day and receiving the arithmetic average of the rates for BCI Routes published by the Baltic Exchange, expiring 03/31/15 (Underlying notional amount $3,531,510)		1,214,490
Commodity Index Swap Agreement with Cargill, Inc. based on the Baltic Capesize Freight Index (“BCI”) paying a fixed amount per day and receiving the arithmetic average of the rates for BCI Routes published by the Baltic Exchange, expiring 04/30/15 (Underlying notional amount $3,531,510)		1,214,490
Commodity Index Swap Agreement with Cargill, Inc. based on the Baltic Capesize Freight Index (“BCI”) paying a fixed amount per day and receiving the arithmetic average of the rates for BCI Routes published by the Baltic Exchange, expiring 05/31/14 (Underlying notional amount $3,198,000)		(678,000	)

	Unrealized
	Appreciation/
	(Depreciation)
Commodity Index Swap Agreement with Cargill, Inc. based on the Baltic Capesize Freight Index (“BCI”) paying a fixed amount per day and receiving the arithmetic average of the rates for BCI Routes published by the Baltic Exchange, expiring 05/31/15 (Underlying notional amount $3,531,510)	$	1,214,490
Commodity Index Swap Agreement with Cargill, Inc. based on the Baltic Capesize Freight Index (“BCI”) paying a fixed amount per day and receiving the arithmetic average of the rates for BCI Routes published by the Baltic Exchange, expiring 06/30/14 (Underlying notional amount $3,198,000)		6,000
Commodity Index Swap Agreement with Cargill, Inc. based on the Baltic Capesize Freight Index (“BCI”) paying a fixed amount per day and receiving the arithmetic average of the rates for BCI Routes published by the Baltic Exchange, expiring 06/30/15 (Underlying notional amount $3,531,510)		1,214,490
Commodity Index Swap Agreement with Cargill, Inc. based on the Baltic Capesize Freight Index (“BCI”) paying a fixed amount per day and receiving the arithmetic average of the rates for BCI Routes published by the Baltic Exchange, expiring 07/31/14 (Underlying notional amount $2,216,000)		514,000
Commodity Index Swap Agreement with Cargill, Inc. based on the Baltic Capesize Freight Index (“BCI”) paying a fixed amount per day and receiving the arithmetic average of the rates for BCI Routes published by the Baltic Exchange, expiring 07/31/15 (Underlying notional amount $3,531,510)		1,214,490
Commodity Index Swap Agreement with Cargill, Inc. based on the Baltic Capesize Freight Index (“BCI”) paying a fixed amount per day and receiving the arithmetic average of the rates for BCI Routes published by the Baltic Exchange, expiring 08/31/14 (Underlying notional amount $2,216,000)		514,000

	Unrealized
	Appreciation/
	(Depreciation)
Commodity Index Swap Agreement with Cargill, Inc. based on the Baltic Capesize Freight Index (“BCI”) paying a fixed amount per day and receiving the arithmetic average of the rates for BCI Routes published by the Baltic Exchange, expiring 08/31/15 (Underlying notional amount $3,531,510)	$	1,214,490
Commodity Index Swap Agreement with Cargill, Inc. based on the Baltic Capesize Freight Index (“BCI”) paying a fixed amount per day and receiving the arithmetic average of the rates for BCI Routes published by the Baltic Exchange, expiring 09/30/14 (Underlying notional amount $2,216,000)		514,000
Commodity Index Swap Agreement with Cargill, Inc. based on the Baltic Capesize Freight Index (“BCI”) paying a fixed amount per day and receiving the arithmetic average of the rates for BCI Routes published by the Baltic Exchange, expiring 09/30/15 (Underlying notional amount $3,531,510)		1,214,490
Commodity Index Swap Agreement with Cargill, Inc. based on the Baltic Capesize Freight Index (“BCI”) paying a fixed amount per day and receiving the arithmetic average of the rates for BCI Routes published by the Baltic Exchange, expiring 10/31/14 (Underlying notional amount $2,216,000)		1,426,000
Commodity Index Swap Agreement with Cargill, Inc. based on the Baltic Capesize Freight Index (“BCI”) paying a fixed amount per day and receiving the arithmetic average of the rates for BCI Routes published by the Baltic Exchange, expiring 10/31/15 (Underlying notional amount $3,531,510)		1,214,490
Commodity Index Swap Agreement with Cargill, Inc. based on the Baltic Capesize Freight Index (“BCI”) paying a fixed amount per day and receiving the arithmetic average of the rates for BCI Routes published by the Baltic Exchange, expiring 11/30/14 (Underlying notional amount $2,216,000)		1,426,000

	Unrealized
	Appreciation/
	(Depreciation)
Commodity Index Swap Agreement with Cargill, Inc. based on the Baltic Capesize Freight Index (“BCI”) paying a fixed amount per day and receiving the arithmetic average of the rates for BCI Routes published by the Baltic Exchange, expiring 11/30/15 (Underlying notional amount $3,531,510)	$	1,214,490
Commodity Index Swap Agreement with Cargill, Inc. based on the Baltic Capesize Freight Index (“BCI”) paying a fixed amount per day and receiving the arithmetic average of the rates for BCI Routes published by the Baltic Exchange, expiring 12/31/14 (Underlying notional amount $2,216,000)		1,426,000
Commodity Index Swap Agreement with Cargill, Inc. based on the Baltic Capesize Freight Index (“BCI”) paying a fixed amount per day and receiving the arithmetic average of the rates for BCI Routes published by the Baltic Exchange, expiring 12/31/15 (Underlying notional amount $3,531,510)		1,214,490
Commodity Index Swap Agreement with Cargill, Inc. based on the Chicago Mercantile Exchange (“CME”) Lean Hogs Index, paying a fixed amount per pound and receiving the closing settlement price of CME August 2014 Lean Hogs Futures contracts on the termination date, expiring 08/11/14 (Underlying notional amount $9,150,952)		605,048
Commodity Index Swap Agreement with Cargill, Inc. based on the Chicago Mercantile Exchange (“CME”) Lean Hogs Index, paying a fixed amount per pound and receiving the closing settlement price of CME December 2014 Lean Hogs Futures contracts on the termination date, expiring 12/09/14 (Underlying notional amount $17,416,325)		1,157,675

	Unrealized
	Appreciation/
	(Depreciation)
Commodity Index Swap Agreement with Cargill, Inc. based on the Chicago Mercantile Exchange (“CME”) Lean Hogs Index, paying a fixed amount per pound and receiving the closing settlement price of CME October 2014 Lean Hogs Futures contracts on the termination date, expiring 10/10/14 (Underlying notional amount $38,370,011)	$	5,671,189
	$	27,155,792

		Unrealized
		Appreciation/
		(Depreciation)
SWAP AGREEMENTS (WRITTEN)
Commodity Index Swap Agreement with Cargill, Inc. based on the Baltic Capesize Freight Index (“BCI”) receiving a fixed amount per day and paying the arithmetic average of the rates for BCI Routes published by the Baltic Exchange, expiring 01/31/15 (Underlying notional amount $1,100,750)	$	(255,250	)
Commodity Index Swap Agreement with Cargill, Inc. based on the Baltic Capesize Freight Index (“BCI”) receiving a fixed amount per day and paying the arithmetic average of the rates for BCI Routes published by the Baltic Exchange, expiring 02/28/15 (Underlying notional amount $1,100,750)		(255,250	)
Commodity Index Swap Agreement with Cargill, Inc. based on the Baltic Capesize Freight Index (“BCI”) receiving a fixed amount per day and paying the arithmetic average of the rates for BCI Routes published by the Baltic Exchange, expiring 03/31/15 (Underlying notional amount $1,100,750)		(255,250	)
Commodity Index Swap Agreement with Cargill, Inc. based on the Baltic Capesize Freight Index (“BCI”) receiving a fixed amount per day and paying the arithmetic average of the rates for BCI Routes published by the Baltic Exchange, expiring 04/30/15 (Underlying notional amount $1,100,750)		(255,250	)

	Unrealized
	Appreciation/
	(Depreciation)
Commodity Index Swap Agreement with Cargill, Inc. based on the Baltic Capesize Freight Index (“BCI”) receiving a fixed amount per day and paying the arithmetic average of the rates for BCI Routes published by the Baltic Exchange, expiring 05/31/14 (Underlying notional amount $2,352,365)	$	672,365
Commodity Index Swap Agreement with Cargill, Inc. based on the Baltic Capesize Freight Index (“BCI”) receiving a fixed amount per day and paying the arithmetic average of the rates for BCI Routes published by the Baltic Exchange, expiring 05/31/15 (Underlying notional amount $1,100,750)		(255,250	)
Commodity Index Swap Agreement with Cargill, Inc. based on the Baltic Capesize Freight Index (“BCI”) receiving a fixed amount per day and paying the arithmetic average of the rates for BCI Routes published by the Baltic Exchange, expiring 06/30/14 (Underlying notional amount $2,352,365)		216,365
Commodity Index Swap Agreement with Cargill, Inc. based on the Baltic Capesize Freight Index (“BCI”) receiving a fixed amount per day and paying the arithmetic average of the rates for BCI Routes published by the Baltic Exchange, expiring 06/30/15 (Underlying notional amount $1,100,750)		(255,250	)
Commodity Index Swap Agreement with Cargill, Inc. based on the Baltic Capesize Freight Index (“BCI”) receiving a fixed amount per day and paying the arithmetic average of the rates for BCI Routes published by the Baltic Exchange, expiring 07/31/15 (Underlying notional amount $1,100,750)		(255,250	)
Commodity Index Swap Agreement with Cargill, Inc. based on the Baltic Capesize Freight Index (“BCI”) receiving a fixed amount per day and paying the arithmetic average of the rates for BCI Routes published by the Baltic Exchange, expiring 08/31/15 (Underlying notional amount $1,100,750)		(255,250	)

	Unrealized
	Appreciation/
	(Depreciation)
Commodity Index Swap Agreement with Cargill, Inc. based on the Baltic Capesize Freight Index (“BCI”) receiving a fixed amount per day and paying the arithmetic average of the rates for BCI Routes published by the Baltic Exchange, expiring 09/30/15 (Underlying notional amount $1,100,750)	$	(255,250	)
Commodity Index Swap Agreement with Cargill, Inc. based on the Baltic Capesize Freight Index (“BCI”) receiving a fixed amount per day and paying the arithmetic average of the rates for BCI Routes published by the Baltic Exchange, expiring 10/31/15 (Underlying notional amount $1,100,750)		(255,250	)
Commodity Index Swap Agreement with Cargill, Inc. based on the Baltic Capesize Freight Index (“BCI”) receiving a fixed amount per day and paying the arithmetic average of the rates for BCI Routes published by the Baltic Exchange, expiring 11/30/15 (Underlying notional amount $1,100,750)		(255,250	)
Commodity Index Swap Agreement with Cargill, Inc. based on the Baltic Capesize Freight Index (“BCI”) receiving a fixed amount per day and paying the arithmetic average of the rates for BCI Routes published by the Baltic Exchange, expiring 12/31/15 (Underlying notional amount $1,100,750)		(255,250	)
Commodity Index Swap Agreement with Cargill, Inc. based on the Chicago Mercantile Exchange (“CME”) Lean Hogs Index, receiving a fixed amount per pound and paying the closing settlement price of CME June 2014 Lean Hogs Futures contracts on the termination date, expiring 06/10/14 (Underlying notional amount $9,849,832)		(168	)

	$	(2,174,438	)

(a)	Cost for federal income tax purposes is $970,466,662 and net unrealized appreciation of investments is as follows:

Unrealized appreciation	$	28,685,272
Unrealized depreciation		(18,113,613	)
Net unrealized appreciation	$	10,571,659


(b)	Non-income producing security.
(c)	This security is considered either fully or partially illiquid. These securities, or portions thereof have a value of $30,844,246 or 3.14% of net assets.
(d)	Variable rate security. Rate shown is the rate as of April 30, 2014.
(e)	The rate represents the annualized yield at time of purchase.
(f)	Rate shown represents current yield at April 30, 2014.

REIT — Real Estate Investment Trust

Portfolio diversification by Sector (Unaudited)

	Percentage
Sector	of Net Assets
Asset-Backed Securities		3.5	%
Collectible Coins		2.9	%
Commodities		3.9	%
Consumer Staples		0.6	%
Energy		12.5	%
Industrials		0.6	%
Materials		2.0	%
Real Estate		2.9	%
U.S. Government Agencies and Securities		68.7	%
Other*		2.4	%
		100.0	%

*	Includes cash and equivalents, options, futures, swap agreements, pending trades and Fund share transactions, interest and dividends receivable, prepaids and accrued expenses payable.

Principal Amount				Value
CORPORATE BONDS — 52.3%
Banks — 13.9%
$	1,000,000	Australia & New Zealand Banking Group Ltd., 0.90%, 02/12/16	$	1,005,478
	3,800,000	Bank of America NA, 1.25%, 02/14/17		3,794,456
	3,000,000	Bank of Montreal, 2.63%, 01/25/16(b)		3,108,630
	3,000,000	Bank of Tokyo-Mitsubishi UFJ Ltd. (The), 1.55%, 09/09/16(b)		3,032,514
	1,000,000	Canadian Imperial Bank of Commerce Canada, 2.60%, 07/02/15(b)		1,025,630
	500,000	Capital One Bank USA, 1.15%, 11/21/16		500,627
	10,500,000	Citigroup, Inc., 1.35%, 03/10/17		10,463,912
	5,000,000	Commonwealth Bank of Australia, 3.25%, 03/17/16(b)		5,221,950
	2,000,000	Commonwealth Bank of Australia, 2.25%, 03/16/17(b)		2,059,428
	2,340,000	Credit Suisse New York MTN, 3.50%, 03/23/15		2,404,004
	1,175,000	Deutsche Bank AG, 3.45%, 03/30/15		1,207,143
	1,350,000	Deutsche Bank AG, 3.25%, 01/11/16		1,405,686
	12,295,000	JPMorgan Chase & Co. MTN, 1.36%, 09/22/15(c)		12,419,266
	1,000,000	JPMorgan Chase & Co. MTN, 1.10%, 10/15/15		1,004,755
	6,125,000	KFW, 1.25%, 02/15/17		6,189,882
	1,000,000	Mizuho Bank Ltd., 1.30%, 04/16/17(b)		998,744
	300,000	Royal Bank of Canada MTN, 1.15%, 03/13/15		302,296
	3,000,000	Standard Chartered Plc, 5.50%, 11/18/14(b)		3,081,600
	3,900,000	Toronto-Dominion Bank (The) - MTN, 0.79%, 04/30/18(c)		3,929,679
	10,500,000	Wells Fargo & Co., 1.25%, 07/20/16		10,589,754
				73,745,434
Consumer Discretionary — 0.8%
	2,000,000	Cargill, Inc.,
		1.90%, 03/01/17(b)		2,025,698

Principal Amount				Value
Consumer Discretionary (continued)
$	2,000,000	Hyundai Capital America, 1.45%, 02/06/17(b)	$	2,002,882
				4,028,580
Consumer Staples — 4.9%
	13,985,000	Anheuser-Busch Inbev Finance Inc, 0.80%, 01/15/16		14,046,646
	6,500,000	Coca-Cola Co. (The), 1.80%, 09/01/16		6,661,616
	3,000,000	CVS Caremark Corp., 1.20%, 12/05/16		3,017,691
	2,500,000	Wal-Mart Stores, Inc., 1.50%, 10/25/15		2,538,910
				26,264,863
Diversified Financials — 11.9%
	3,520,000	American Express Credit Corp. MTN, 2.38%, 03/24/17		3,646,773
	1,000,000	American Honda Finance Corp., 2.50%, 09/21/15(b)		1,026,750
	1,000,000	American Honda Finance Corp., 2.13%, 02/28/17(b)		1,022,101
	5,000,000	Caterpillar Financial Services Corp. MTN, 0.47%, 02/26/16(c)		5,010,115
	3,000,000	Daimler Finance North America LLC, 2.63%, 09/15/16(b)		3,106,446
	500,000	Enel Finance International SA, 3.88%, 10/07/14(b)		506,471
	1,500,000	Ford Motor Credit Co. LLC, 4.21%, 04/15/16		1,590,356
	10,800,000	Ford Motor Credit Co. LLC, 3.00%, 06/12/17		11,264,648
	9,325,000	General Electric Capital Corp, 2.90%, 01/09/17		9,768,264
	950,000	General Electric Capital Corp. MTN, 3.50%, 06/29/15		982,432
	1,400,000	General Electric Capital Corp. MTN, 2.30%, 04/27/17		1,443,936
	3,000,000	Goldman Sachs Group, Inc. (The), 3.30%, 05/03/15		3,079,011
	3,000,000	Goldman Sachs Group, Inc. (The), 3.63%, 02/07/16		3,136,764
	12,000,000	Morgan Stanley, 1.75%, 02/25/16		12,160,956
	3,000,000	Toyota Motor Credit Corp., 0.53%, 05/17/16(c)		3,008,541

Principal Amount				Value
Diversified Financials (continued)
$	1,775,000	Toyota Motor Credit Corp. MTN, 2.80%, 01/11/16	$	1,841,263
	1,000,000	USAA Capital Corp., 1.05%, 09/30/14(b)		1,002,737
				63,597,564
Energy — 1.3%
	3,000,000	Cameron International Corp., 1.15%, 12/15/16		3,000,126
	1,700,000	Occidental Petroleum Corp, 1.75%, 02/15/17		1,728,569
	1,000,000	Schlumberger Investment SA, 1.25%, 08/01/17(b)		993,695
	1,000,000	Schlumberger Norge AS, 1.95%, 09/14/16(b)		1,024,053
				6,746,443
Health Care — 3.0%
	820,000	Celgene Corp., 2.45%, 10/15/15		838,575
	1,000,000	Express Scripts Holding Co., 2.65%, 02/15/17		1,037,440
	3,035,000	Johnson & Johnson, 2.15%, 05/15/16		3,128,533
	415,000	McKesson Corp, 0.95%, 12/04/15		416,182
	500,000	Medco Health Solutions, Inc., 2.75%, 09/15/15		512,013
	4,000,000	Merck & Co., Inc., 0.60%, 05/18/18(c)		4,009,652
	5,000,000	Takeda Pharmaceutical Co. Ltd., 1.63%, 03/17/17(b)		5,044,540
	1,000,000	UnitedHealth Group, Inc., 1.40%, 10/15/17		1,000,215
				15,987,150
Industrials — 0.7%
	3,500,000	3M Co. MTN, 1.00%, 06/26/17		3,498,530
	312,439	Federal Express Corp. 2012 Pass Through Trust, 2.63%, 01/15/18(b)		317,025
	188,000	Tyco International Finance SA, 3.38%, 10/15/15		194,199
				4,009,754
Information Technology — 5.7%
	10,000,000	Apple, Inc., 0.49%, 05/03/18(c)		10,003,960
	5,000,000	Cisco Systems, Inc., 1.10%, 03/03/17		5,013,400
	2,150,000	Fiserv, Inc., 3.13%, 06/15/16		2,239,754

Principal Amount			Value
Information Technology (continued)
$	10,500,000	Hewlett-Packard Co., 2.35%, 03/15/15	$	10,663,181
	1,900,000	National Semiconductor Corp., 6.60%, 06/15/17		2,200,755
				30,121,050
Insurance — 1.7%
	3,990,000	Berkshire Hathaway Finance Corp., 2.45%, 12/15/15		4,110,231
	5,000,000	New York Life Global Funding, 1.65%, 05/15/17(b)		5,066,175
				9,176,406
Materials — 2.6%
	630,000	Airgas, Inc., 4.50%, 09/15/14		638,455
	1,005,000	Airgas, Inc., 2.95%, 06/15/16		1,042,012
	2,710,000	Dow Chemical Co. (The), 2.50%, 02/15/16		2,786,853
	1,000,000	International Paper Co., 9.38%, 05/15/19		1,317,882
	8,000,000	Rio Tinto Finance USA Plc, 2.00%, 03/22/17		8,166,104
				13,951,306
Telecommunication Services — 4.1%
	4,000,000	America Movil Sab de CV, 2.38%, 09/08/16		4,112,088
	12,000,000	NBC Universal Media LLC, 2.88%, 04/01/16		12,491,220
	5,000,000	Verizon Communications, Inc., 2.50%, 09/15/16		5,174,755
				21,778,063
Utilities — 1.7%
	5,000,000	Consolidated Edison Co. of New York, Inc., 5.38%, 12/15/15		5,365,550
	1,000,000	Duke Energy Corp., 1.63%, 08/15/17		1,008,990
	2,485,000	NextEra Energy Capital Holdings, Inc., 2.60%, 09/01/15		2,547,744
				8,922,284
Total Corporate Bonds (Cost $274,950,134)				278,328,897

Principal Amount			Value
ASSET-BACKED SECURITIES — 4.0%
CAYMAN ISLANDS — 2.1%
$	1,504,460	Gannett Peak CLO Ltd., Series 2006-1A, Class A1A, 0.48%, 10/27/20(b)(c)	$	1,499,355
	6,000,000	OCP CLO Ltd., Series 2013-4A, Class A1A, 1.63%, 10/24/25(b)(c)		5,970,942
	3,742,797	Vitesse CLO Ltd., Series 2006-1A, Class A1L, 0.49%, 08/17/20(b)(c)		3,710,302
				11,180,599
UNITED STATES — 1.9%
	8,500,000	Anchorage Capital CLO Ltd., Series 2013-1A, Class 1A, 1.42%, 07/13/25(b)(c)		8,360,702
	1,953,928	Black Diamond CLO Ltd., Series 2005-1X, Class A1, 0.50%, 06/20/17(c)		1,950,108
				10,310,810
Total Asset-Backed Securities (Cost $21,580,222)				21,491,409
MUNICIPAL BONDS — 5.2%
California — 0.9%
	3,850,000	Southern California Public Power Authority Refunding Revenue Bonds, Series B (AGM) 6.93%, 05/15/17		4,442,977
District Of Columbia — 0.5%
	1,000,000	District of Columbia Build America Bonds GO 3.64%, 06/01/15		1,029,840
	1,310,000	District of Columbia Build America Bonds GO 4.16%, 06/01/16		1,385,037
				2,414,877
Georgia — 0.6%
	3,085,000	State of Georgia Taxable School Improvement GO, Series C-3 2.59%, 10/01/17		3,227,126
Illinois — 0.5%
	2,600,000	State of Illinois Public Improvements Revenue Bonds 1.56%, 06/15/17		2,624,518
Maryland — 0.1%
	20,000	State of Maryland Recreational Facilities Improvements COP, Series A 2.52%, 09/01/14		20,141

Principal Amount			Value
Maryland (continued)
$	180,000	State of Maryland Recreational Facility Improvements COP, Series A 2.92%, 09/01/15	$	185,476
				205,617
Michigan — 0.2%
	1,095,000	University of Michigan University and College Improvement Build America Revenue Bonds 1.75%, 04/01/15		1,106,892
Minnesota — 0.1%
	40,000	Duluth Independent School District No. 709 Build America Bonds COP (School District Credit) 3.50%, 02/01/15		40,703
	605,000	Duluth Independent School District No. 709 Build America Bonds COP (School District Credit) 4.00%, 02/01/16		628,414
				669,117
New Jersey — 1.2%
	1,500,000	County of Monmouth Build America Bonds GO 3.75%, 11/01/16		1,581,765
	1,000,000	Morris County Improvement Authority Renewable Energy Revenue Bonds 1.90%, 06/15/15		1,015,800
	100,000	Morris County Improvement Authority Renewable Energy Revenue Bonds 2.27%, 06/15/16		102,981
	2,050,000	New Jersey Economic Development Authority Refunding Revenue Bonds 3.50%, 06/15/15		2,116,892
	1,515,000	New Jersey Economic Development Authority Refunding Revenue Bonds (State Appropriation) 3.61%, 09/01/14		1,530,711
	160,000	New Jersey Economic Development Authority School Improvement Revenue Bonds, Series FF 3.17%, 09/01/14		161,431
				6,509,580

Principal Amount			Value
New York — 0.5%
$	2,520,000	Metropolitan Transportation Authority Highway Toll Build America Revenue Bonds 4.28%, 11/15/16	$	2,684,455
	110,000	New York State Dormitory Authority University & College Improvements Revenue Bonds, Series G 2.83%, 03/15/16		113,506
				2,797,961
Ohio — 0.4%
	2,115,000	Ohio State Build America Revenue Bonds, Series 2 3.64%, 06/15/16		2,237,416
South Carolina — 0.2%
	1,050,000	State of South Carolina Refunding GO, Series A 5.00%, 06/01/17		1,188,705
Total Municipal Bonds (Cost $26,678,861)				27,424,786
COLLATERALIZED MORTGAGE OBLIGATIONS — 0.6%
	3,017,355	JPMorgan Tax Exempt Pass Through Trust, Series 2012-AMT1, Class A, 3.00%, 01/27/38 (b)		2,953,602
Total Collateralized Mortgage Obligations (Cost $3,089,180)				2,953,602
U.S. GOVERNMENT AGENCIES — 9.3%
AID-EGYPT — 0.2%
	1,000,000	4.45%, 09/15/15		1,055,922
				1,055,922
Fannie Mae — 0.9%
	805,000	0.50%, 09/28/15		807,756
	200,000	1.63%, 10/26/15		204,140
	3,200,000	5.00%, 02/13/17		3,565,555
				4,577,451
Federal Home Loan Bank — 0.4%
	150,000	5.00%, 12/21/15		161,562
	2,000,000	0.38%, 06/24/16		1,996,102
				2,157,664
Freddie Mac — 4.2%
	8,500,000	0.88%, 02/22/17		8,505,134
	13,900,000	1.00%, 03/08/17		13,957,727
				22,462,861

Principal Amount			Value
Ginnie Mae — 0.0%
$	321	9.00%, 02/15/20	$	323
				323
Overseas Private Investment Corp. — 1.6%
	7,736,026	5.14%, 12/15/23		8,626,342
				8,626,342
Private Export Funding Corp. — 1.0%
	1,400,000	4.95%, 11/15/15		1,499,781
	3,000,000	5.00%, 12/15/16		3,312,441
	500,000	2.25%, 12/15/17		516,977
				5,329,199
Small Business Administration — 0.9%
	794,148	4.73%, 02/10/19		844,305
	1,275,856	4.11%, 03/10/20		1,361,495
	2,241,446	4.08%, 03/10/21		2,371,156
				4,576,956
Tennessee Valley Authority — 0.1%
	725,000	6.25%, 12/15/17		848,566
				848,566
Total U.S. Government Agencies (Cost $48,255,905)				49,635,284
U.S. GOVERNMENT SECURITIES — 25.9%
U.S. Treasury Notes — 25.9%
	56,291,000	0.25%, 12/15/15		56,271,186
	59,630,000	7.25%, 08/15/22		81,585,945
Total U.S. Government Securities
(Cost $141,032,079)				137,857,131
GOVERNMENT BONDS — 1.7%
CANADA — 0.5%
	2,875,000	Province of Ontario Canada, 2.30%, 05/10/16		2,973,267
FRANCE — 0.2%
	1,000,000	Societe Financement de L’economie Francaise, 2.88%, 09/22/14(b)		1,010,120
GERMANY — 0.2%
	1,000,000	Norddeutsche Landesbank Girozentrale, 0.88%, 10/16/15(b)		1,004,820
JAPAN — 0.4%
	2,000,000	Development Bank of Japan, 1.63%, 10/05/16(b)		2,040,168
SOUTH KOREA — 0.4%
	500,000	Export-Import Bank of Korea, 1.25%, 11/20/15		502,763

Principal Amount				Value
SOUTH KOREA (continued)
$	1,400,000	Export-Import Bank of Korea, 4.00%, 01/11/17	$	1,498,643
				2,001,406
Total Government Bonds (Cost $8,785,995)				9,029,781

Shares
INVESTMENT COMPANY — 0.1%
	685,700	SEI Daily Income Trust Government II Fund, Class A, 0.00%(d)		685,700
Total Investment Company (Cost $685,700)				685,700
TOTAL INVESTMENTS — 99.1% (Cost $525,058,076)(a)			$	527,406,590
OTHER ASSETS IN EXCESS OF LIABILITIES — 0.9%				4,550,083
NET ASSETS — 100.0%			$	531,956,673

(a)	Cost for federal income tax purposes is $525,058,076 and net unrealized appreciation of investments is as follows:

Unrealized appreciation	$	5,976,573
Unrealized depreciation		(3,628,059	)
Net unrealized appreciation	$	2,348,514

(b)	Security exempt from registration under Rule 144A of the Securities Act of 1933, as amended. The security may be resold in transactions exempt from registration normally to qualified institutional buyers. The security has been determined to be liquid in accordance with procedures adopted by the Fund’s Board of Directors. The aggregate value of these securities is $68,217,081,which is 12.84% of net assets.
(c)	Variable rate security. Rate shown is the rate as of April 30, 2014.
(d)	Rate shown represents current yield at April 30, 2014.

AGM — Assured Guaranty Municipal Corp.

CLO — Collateralized Loan Obligation

COP — Certificates of Participation

GO — General Obligations

MTN — Medium Term Note

Portfolio diversification by Sector (Unaudited)

Sector		Percentage of Net Assets
U.S. Government Agencies and Securities		35.2%
Corporate Bonds		52.3
Municipal Bonds		5.2
Government Bonds		1.7
Asset Backed Securities		4.0
Collateralized Mortgage Obligations		0.6
Other*		1.0
		100.0%

*	Includes cash and equivalents, investment company, pending trades and Fund share transactions, interest and dividends receivable, prepaids and accrued expenses payable.

Principal Amount			Value
MUNICIPAL BONDS — 99.0%
Alabama — 0.6%
$	5,000,000	Alabama Federal Aid Highway Finance Authority Revenue Bonds, 5.00%, 09/01/20	$	5,850,900
	1,500,000	Alabama Public School & College Authority Refunding Revenue Bonds, Series A, 5.00%, 05/01/14		1,500,000
				7,350,900
Arizona — 1.0%
	2,000,000	Arizona Department of Transportation State Highway Fund Refunding Revenue Bonds, Sub-series A, 5.00%, 07/01/21		2,405,520
	1,375,000	Arizona School Facilities Board Refunding Revenue Bonds, Series A (AMBAC), 5.75%, 07/01/14(b)		1,386,963
	350,000	Arizona State Board of Regents Revenue Bonds, Series 2008-C, OID, 5.88%, 07/01/24		408,225
	2,360,000	Arizona State Board of Regents Revenue Bonds, Series C, 5.00%, 07/01/17		2,666,658
	800,000	Arizona State Transportation Board Grant Anticipation Refunding Revenue Bonds, Series A, 5.00%, 07/01/14		806,368
	1,050,000	Arizona Transportation Board Maricopa County Highway Improvement Revenue Bonds, 5.00%, 07/01/14		1,058,358
	200,000	Maricopa County Community College District GO, Series C, 5.00%, 07/01/20		232,333
	2,875,000	Phoenix Civic Improvement Corp. Refunding Revenue Bonds, 5.00%, 07/01/20		3,429,070
				12,393,495
Arkansas — 0.1%
	590,000	Fayetteville School District No 1 Refunding GO (State Aid Withholding), 2.00%, 06/01/16		609,210

Principal Amount			Value
Arkansas (continued)
$	910,000	Rogers School District No 30 Refunding GO (State Aid Withholding), 3.00%, 02/01/16	$	951,441
				1,560,651
California — 2.6%
	5,000,000	Antelope Valley Community College District Refunding GO, Series A, 5.00%, 08/01/24		6,047,450
	2,650,000	California State University System Wide Refunding Revenue Bonds, Series A, 5.00%, 11/01/18		3,088,787
	1,750,000	City & County of San Francisco Courthouse Project Refunding COP, 5.00%, 04/01/16		1,903,703
	1,155,000	City & County of San Francisco Juvenile Hall Project Refunding COP, 5.00%, 04/01/16		1,256,675
	5,900,000	City of Los Angeles Solid Waste Resources Revenue Bonds, Series A, 5.00%, 02/01/20		6,817,686
	100,000	Huntington Beach Public Financing Authority Refunding Revenue Bonds, 4.00%, 09/01/18		109,675
	1,035,000	Los Rios Community College District 2002 Election GO, Series D, 5.25%, 08/01/23		1,171,185
	10,000,000	State of California Refunding GO, Series A, (State GTY), 5.00%, 07/01/22		10,954,500
	2,120,000	University of California Regents Medical Center Refunding Revenue Bonds, Series G, 4.00%, 05/15/14		2,122,216
				33,471,877
Colorado — 0.7%
	500,000	Adams & Weld Counties School District No 27J Brighton Co. Refunding Revenue Bonds, Series A, (State Aid Withholding), 5.00%, 12/01/19		587,360
	450,000	Denver City & County School District No 1 Refunding GO, Series C (State Aid Withholding), 5.00%, 12/01/23		545,666

Principal Amount			Value
Colorado (continued)
$	1,200,000	Douglas County School District No Re-1 Douglas & Elbert Counties Refunding GO, Series B (AGM, State Aid Withholding), 5.00%, 12/15/14	$	1,235,688
	2,000,000	El Paso County School District No 38 Lewis-Palmer Refunding GO (State Aid Withholding), 4.00%, 12/01/17		2,211,500
	1,180,000	Jefferson County School District GO, Series R-1, (State Aid Withholding), 5.00%, 12/15/22		1,437,877
	790,000	Jefferson County School District GO, Series R-1, (State Aid Withholding), 5.00%, 12/15/23		950,275
	1,600,000	University of Colorado Refunding Revenue Bonds, Series A (NATL-RE), 4.50%, 06/01/21		1,774,144
	370,000	University of Northern Colorado Refunding Revenue Bonds, Series A (State Higher Education Intercept Program), 3.00%, 06/01/16		389,831
				9,132,341
Connecticut — 2.1%
	770,000	Connecticut State Health & Educational Facility Authority Refunding Revenue Bonds, 3.00%, 07/01/14		773,111
	2,000,000	Connecticut State Health & Educational Facility Authority Refunding Revenue Bonds, Series A-3, 0.88%, 07/01/49(c)(d)		1,993,000
	4,700,000	Connecticut State Health & Educational Facility Authority Revenue Bonds, Series A-4, 2.50%, 07/01/49(c)		4,786,010
	8,000,000	State of Connecticut Transportation Infrastructure Revenue Bonds, Series A, 5.00%, 10/01/19		9,362,320
	9,000,000	University of Connecticut University and College Improvements Refunding Revenue Bonds, Series A, 4.00%, 02/15/16		9,579,960

Principal Amount			Value
Connecticut (continued)
$	1,000,000	University of Connecticut University and College Improvements Revenue Bonds, Series A, 3.00%, 02/15/16	$	1,046,740
				27,541,141
District Of Columbia — 0.5%
	5,000,000	District of Columbia Public Improvement Revenue Bonds, Series C, 5.00%, 12/01/19		5,905,700
	1,000,000	District of Columbia Refunding Revenue Bonds, Series A, 5.00%, 12/01/20		1,194,080
				7,099,780
Florida — 3.1%
	800,000	City of Orlando Stadiums and Arenas Revenue Bonds, Series A, 5.00%, 11/01/23		955,336
	3,000,000	Florida State Board of Education Capital Outlay GO, Series E, 4.60%, 06/01/23		3,158,520
	5,000,000	Florida State Board of Education Lottery Refunding Revenue Bonds, Series A, 5.00%, 07/01/17		5,663,100
	800,000	Florida State Board of Education Lottery Refunding Revenue Bonds, Series A, 5.00%, 07/01/18		926,032
	1,000,000	Florida State Board of Education Lottery Revenue Bonds, Series A, (AMBAC), 5.00%, 07/01/20		1,065,960
	8,575,000	Florida State Board of Education Lottery Revenue Bonds, Series A, OID, 5.50%, 07/01/27		10,047,413
	4,165,000	Florida State Board of Governors Refunding Revenue Bonds, Series A, 5.00%, 07/01/16		4,558,759
	500,000	Florida Water Pollution Control Financing Corp. Water Polution Control Revenue Bonds, Series A, 4.00%, 01/15/17		542,560
	1,065,000	Hillsborough County Community Investment Tax Revenue Bonds, (AMBAC), 5.00%, 11/01/16		1,174,727

Principal Amount			Value
Florida (continued)
$	2,000,000	Miami-Dade County Water & Sewer Refunding Revenue Bonds, (XLCA), 5.00%, 10/01/19	$	2,265,740
	1,800,000	Miami-Dade County Water & Sewer Refunding Revenue Bonds, Series B, (AGM), 5.25%, 10/01/16		1,996,380
	2,000,000	Orlando Utilities Commission Refunding Revenue Bonds, Series A, 5.00%, 10/01/20		2,385,540
	1,000,000	Orlando Utilities Commission Refunding Revenue Bonds, Series C, 5.00%, 10/01/14		1,019,780
	500,000	Palm Beach County Revenue Bonds, Series 2, OID, 5.25%, 11/01/25		575,935
	1,905,000	State of Florida Refunding GO, Series A, 3.00%, 01/01/16		1,988,249
	1,975,000	State of Florida Refunding GO, Series A, 4.00%, 01/01/17		2,151,091
				40,475,122
Georgia — 4.6%
	10,000,000	Bartow County School District School Improvement GO, Series A, (State Aid Withholding), 4.00%, 10/01/15		10,528,700
	1,000,000	Cobb-Marietta Coliseum & Exhibit Hall Authority Performing Arts Center Project Refunding Revenue Bonds (County GTY), 5.00%, 01/01/19		1,167,590
	1,750,000	Douglas County School District Refunding GO (State Aid Withholding), 4.00%, 04/01/16		1,870,505
	970,000	Fulton County Development Authority Georgia Tech Facilities Refunding Revenue Bonds, Series A, 3.00%, 05/01/15		997,112
	395,000	Fulton County Development Authority Georgia Tech Facilities Refunding Revenue Bonds, Series A, 4.00%, 05/01/16		422,816

Principal Amount			Value
Georgia (continued)
$	375,000	Fulton County Development Authority Georgia Tech Facilities Refunding Revenue Bonds, Series A, 5.00%, 05/01/23	$	442,448
	1,000,000	Fulton County Water & Sewer Refunding Revenue Bonds, 5.00%, 01/01/18		1,141,280
	1,040,000	Georgia State Road & Tollway Authority Federal Highway Grant Anticipation Refunding Revenue Bonds, Series A, 5.00%, 06/01/17		1,171,279
	5,040,000	Georgia State Road & Tollway Authority Federal Highway Grant Anticipation Revenue Bonds, Series A, 5.00%, 06/01/15		5,295,074
	1,250,000	Georgia State Road & Tollway Authority Federal Highway Grant Anticipation Revenue Bonds, Series A, 5.00%, 06/01/18		1,437,675
	5,000,000	Georgia State Road & Tollway Authority Highway Improvement Revenue Bonds, Series A, 5.00%, 06/01/20		5,790,650
	12,000,000	Georgia State Road & Tollway Authority Refunding Revenue Bonds, Series A, (State GTY), 5.00%, 03/01/18		13,805,280
	2,025,000	Georgia State Road & Tollway Authority Refunding Revenue Bonds, Series B, (State GTY), 5.00%, 10/01/19		2,399,747
	525,000	Gwinnett County Development Authority Refunding COP, Gwinnett Development Schools Project, (NATL-RE), 5.00%, 01/01/15		541,711
	630,000	Gwinnett County Development Authority Refunding COP, Gwinnett Development Schools Project, (NATL-RE), 5.25%, 01/01/17		702,979
	500,000	Newton County School District School Improvements GO (State Aid Withholding), 5.00%, 04/01/15		521,420
	1,925,000	State of Georgia Refunding GO, Series E-2, 4.00%, 09/01/18		2,166,934
	2,860,000	State of Georgia Refunding GO, Series E-2, 4.00%, 09/01/19		3,252,649

Principal Amount			Value
Georgia (continued)
$	3,000,000	State of Georgia Refunding GO, Series E-2, 5.00%, 09/01/20	$	3,614,940
	1,500,000	State of Georgia School Improvement GO, Series B, 5.00%, 01/01/18		1,723,575
				58,994,364
Hawaii — 0.8%
	8,000,000	City & County of Honolulu Public Improvements Refunding GO, Series B, 5.00%, 11/01/19		9,446,880
	400,000	State of Hawaii Refunding GO, Series DY, 5.00%, 02/01/18		458,568
				9,905,448
Idaho — 0.1%
	1,500,000	Idaho Board Bank Authority Refunding Revenue Bonds, Series D, 5.00%, 09/15/23		1,793,820
Illinois — 1.8%
	3,540,000	Chicago Park District Refunding GO, Series C, (AMBAC), 5.00%, 01/01/23		3,563,966
	900,000	Chicago Transit Authority Federal Transit Revenue Bonds, (AMBAC), 5.00%, 06/01/21		970,407
	1,345,000	City of Champaign Parking Facilities Improvements GO, Series 2008, 5.00%, 12/15/17		1,501,060
	270,000	City of Chicago Refunding GO, OID, Series B (AMBAC), 5.13%, 01/01/15		278,743
	2,215,000	Cook County Community College District No 508 University & College Improvements GO, 5.00%, 12/01/21		2,497,058
	2,575,000	Cook County Community College District No. 524 Moraine Valley GO, Series B, (NATL-RE), 5.00%, 12/01/25		2,935,552
	3,000,000	Illinois State Toll Highway Authority Refunding Revenue Bonds, Series B, 5.00%, 12/01/17		3,406,470
	3,500,000	State of Illinois Public Improvement Refunding Revenue Bonds, 5.00%, 06/15/18		4,009,180

Principal Amount			Value
Illinois (continued)
$	2,500,000	State of Illinois School Improvements GO, 3.00%, 02/01/16	$	2,596,525
	780,000	University of Illinois College Improvement Refunding Revenue Bonds, Series A, 5.00%, 04/01/21		909,948
	945,000	University of Illinois College Improvement Refunding Revenue Bonds, Series A, 5.00%, 04/01/22		1,100,481
				23,769,390
Indiana — 2.3%
	580,000	Anderson School Building Corp., First Mortgage Refunding Revenue Bonds, (AGM, State Aid Withholding), 5.00%, 01/15/16		621,522
	1,050,000	Avon Community School Building Corp., First Mortgage Refunding and Improvement Revenue Bonds, (AMBAC, State Aid Withholding), 5.00%, 07/15/16		1,147,419
	650,000	Avon Community School Building Corp., First Mortgage Refunding and Improvement Revenue Bonds, (AMBAC, State Aid Withholding), 5.00%, 01/15/17		716,196
	500,000	Carmel 2002 School Building Corp. Refunding Revenue Bonds, (State Aid Withholding), 5.00%, 07/15/16		549,155
	600,000	Center Grove School Building Corp. First Mortgage Refunding Revenue Bonds, Series A (State Aid Intercept Program), 5.00%, 07/15/20		692,262
	650,000	Decatur Township Marion County Multi-School Building Corp., First Mortgage Revenue Bonds, Series B, (AGM, State Aid Withholding), 5.00%, 07/15/18		720,779
	490,000	East Noble Facilities School Building Corp., First Mortgage Refunding Revenue Bonds, (NATL-RE, State Aid Withholding), 5.00%, 07/15/16		527,759

Principal Amount			Value
Indiana (continued)
$	510,000	Evansville Vanderburgh Public Library Leasing Corp., First Mortgage Refunding Revenue Bonds, (AMBAC), 5.25%, 07/15/17	$	540,707
	1,330,000	GCS School Building Corp. One, First Mortgage Refunding Revenue Bonds (State Aid Intercept Program), 5.00%, 01/15/22		1,528,250
	1,350,000	GCS School Building Corp. One, First Mortgage Refunding Revenue Bonds (State Aid Intercept Program), 5.00%, 07/15/22		1,555,403
	1,070,000	Griffith Multi-School Building Corp., First Mortgage Refunding Revenue Bonds, (AGM, State Aid Withholding), 5.00%, 01/15/22		1,125,940
	905,000	Hammond School Building Corp., First Mortgage Revenue Bonds, (NATL-RE, State Aid Withholding), 5.00%, 07/15/23		935,254
	5,000,000	Indiana Finance Authority Southern Industrial Gas & Electric Refunding Revenue Bonds, Series E, 1.95%, 05/01/37(c)		5,109,750
	500,000	Ivy Tech Community College University & College Improvements Revenue Bonds, Series R-1, 5.00%, 07/01/19		581,640
	1,040,000	Pike Township Multi-School Building Corp. School Improvements Revenue Bonds (State Aid Intercept Program), 3.00%, 01/15/16		1,084,897
	1,060,000	Pike Township Multi-School Building Corp. School Improvements Revenue Bonds (State Aid Intercept Program), 3.00%, 07/15/16		1,115,851
	500,000	Plainfield Elementary School Building Corp., First Mortgage Refunding Revenue Bonds, (NATL-RE, School Board Resolution Funding), 5.00%, 07/15/18		526,840

Principal Amount			Value
Indiana (continued)
$	715,000	Portage Township Multi-School Building Corp., First Mortgage Refunding Revenue Bonds, (NATL-RE, School Board Resolution Funding), 5.00%, 01/15/16	$	770,484
	735,000	Portage Township Multi-School Building Corp., First Mortgage Refunding Revenue Bonds, (NATL-RE, School Board Resolution Funding), 5.00%, 07/15/16		804,377
	570,000	Portage Township Multi-School Building Corp., First Mortgage Refunding Revenue Bonds, (NATL-RE, School Board Resolution Funding), 5.00%, 07/15/17		642,077
	3,000,000	Purdue University Student Fee Refunding Revenue Bonds, Series Z-1, 5.00%, 07/01/15		3,165,030
	1,000,000	Tippecanoe County Middle School Building Corp. First Mortgage Refunding Revenue Bonds, (State Aid Withholding), 4.00%, 01/15/15		1,025,080
	765,000	Vigo County School Building Corp., First Mortgage Refunding Revenue Bonds, (AGM, State Aid Withholding), 5.00%, 01/10/16		823,874
	1,000,000	Warsaw Multi-School Building Corp. Revenue Bonds, Series B (State Aid Withholding), 5.75%, 07/15/26		1,156,070
	1,020,000	Wayne Township School Building Corp., Marion County First Mortgage Refunding Revenue Bonds, (State Aid Intercept Program), 3.00%, 07/15/15		1,051,192
	895,000	Wayne Township School Building Corp., Marion County First Mortgage Refunding Revenue Bonds, (State Aid Intercept Program), 4.00%, 01/15/16		947,161

Principal Amount			Value
Indiana (continued)
$	175,000	Wayne Township School Building Corp., Marion County First Mortgage Revenue Bonds, (NATL-RE, School Board Resolution Funding), 5.00%, 01/15/15	$	180,775
				29,645,744
Iowa — 0.2%
	1,800,000	Iowa Finance Authority Water Utilities Improvements Revenue Bonds, 5.00%, 08/01/20		2,157,228
Kansas — 0.2%
	2,170,000	Topeka Public Building Commission KBI Forensic Laboratory Project Revenue Bonds, 5.00%, 12/01/17		2,469,742

Kentucky — 1.4%
	3,500,000	Kentucky Asset Liability Commission Federal Highway Trust First Series Revenue Bonds, 5.00%, 09/01/17		3,964,905
	1,000,000	Kentucky Asset Liability Commission Highway Trust Refunding Revenue Bonds, 5.00%, 09/01/15		1,061,970
	8,185,000	Kentucky Asset Liability Commission Highway Trust Refunding Revenue Bonds, 5.00%, 09/01/16		9,020,197
	1,550,000	Kentucky State Property & Building Commission Project No. 106 Refunding Revenue Bonds, Series A, 5.00%, 10/01/15		1,651,649
	1,000,000	Kentucky State Property & Buildings Commission Revenue Bonds, Project No. 88, (NATL-RE, FGIC), 5.00%, 11/01/15		1,069,460
	685,000	Warren County School District Finance Corp. Refunding Revenue Bonds, Series B, (State Aid Intercept Program), 2.00%, 06/01/15		697,385
	605,000	Warren County School District Finance Corp. Refunding Revenue Bonds, Series B, (State Aid Intercept Program), 2.00%, 06/01/16		621,529
				18,087,095

Principal Amount			Value
Louisiana — 0.2%
$	2,000,000	Louisiana Public Facilities Authority Hurricane Recovery Program Revenue Bonds, (AMBAC), 5.00%, 06/01/16	$	2,169,680
Maine — 0.5%
	435,000	City of Bath Refunding GO, 2.00%, 09/01/15		444,692
	700,000	Maine Health & Higher Educational Facilities Authority Refunding Revenue Bonds, Series A, 5.00%, 07/01/17		790,251
	1,475,000	Maine Health & Higher Educational Facilities Authority Refunding Revenue Bonds, Series A, 5.00%, 07/01/20		1,717,048
	1,020,000	Maine Health & Higher Educational Facilities Authority Refunding Revenue Bonds, Series A, 5.00%, 07/01/21		1,184,648
	115,000	Maine Health & Higher Educational Facilities Authority Refunding Revenue Bonds, Series B, (AMBAC, State Resolution Funding GTY), 5.00%, 07/01/16(b)		126,342
	1,800,000	Maine Health & Higher Educational Facilities Authority University & College Improvements Revenue Bonds, Series A, 5.00%, 07/01/16		1,955,556
				6,218,537
Maryland — 4.2%
	5,500,000	County of Baltimore Public Improvement Refunding GO, 5.00%, 02/01/18		6,318,400
	625,000	Maryland State Department of Transportation Highway Improvement Refunding Revenue Bonds, 4.50%, 03/01/15		647,331
	2,030,000	Maryland State Department of Transportation Highway Improvement Revenue Bonds , Series A, 3.00%, 06/15/15		2,093,742
	1,000,000	Maryland State Department of Transportation Highway Improvement Revenue Bonds, 5.00%, 10/01/20		1,194,770

Principal Amount			Value
Maryland (continued)
$	1,620,000	State of Maryland Public Improvements GO, Series A, 5.25%, 03/01/15	$	1,687,991
	1,175,000	State of Maryland Public Improvements GO, Series A, 5.00%, 03/15/15		1,224,127
	3,650,000	State of Maryland Public Improvements GO, Series A, 5.00%, 03/15/17		4,105,995
	1,300,000	State of Maryland Public Improvements GO, Series A, 5.00%, 08/01/17		1,479,595
	1,000,000	State of Maryland Public Improvements GO, Series A, 5.00%, 08/01/17		1,138,150
	4,125,000	State of Maryland Public Improvements GO, Series A, 5.00%, 03/15/19		4,854,424
	12,850,000	State of Maryland Refunding GO, 5.00%, 08/01/18		14,960,356
	2,320,000	State of Maryland Refunding GO, Series C, 5.00%, 11/01/17		2,660,646
	8,000,000	State of Maryland Refunding GO, Series C, 4.00%, 11/01/19		9,081,600
	2,000,000	State of Maryland School Improvements GO, Series B, 5.00%, 08/01/17		2,276,300
				53,723,427
Massachusetts — 9.2%
	3,000,000	Berkshire Regional Transit Authority Cash Flow Management GO Notes (State Aid Appropriation), 1.00%, 09/26/14		3,008,070
	5,000,000	Brockton Area Transit Authority Cash Flow Management GO Notes (State Aid Appropriation), 0.75%, 08/01/14		5,004,850
	4,800,000	Brockton Area Transit Authority Cash Flow Management GO Notes (State Aid Appropriation), 1.00%, 08/01/14		4,807,392
	6,000,000	Cape Cod Regional Transit Authority Cash Flow Management Revenue Notes, 1.00%, 07/30/14		6,009,420
	4,450,000	Commonwealth of Massachusetts Highway Improvements Revenue Bonds, Series B, 4.00%, 06/15/17		4,904,034

Principal Amount			Value
Massachusetts (continued)
$	5,000,000	Commonwealth of Massachusetts Public Improvements GO, Series A, 5.00%, 12/01/17	$	5,734,250
	4,460,000	Lowell Regional Transit Authority Cash Flow Management Revenue Notes (State Aid Appropriation), 1.00%, 08/08/14		4,467,404
	7,780,000	Massachusetts State Water Pollution Abatement Trust Refunding Revenue Bonds, Sub-Series 16-B, 5.00%, 08/01/20		9,349,615
	2,000,000	Massachusetts Water Resources Authority Refunding Revenue Bonds, Series A, 5.00%, 08/01/22		2,418,140
	4,500,000	Massachusetts Water Resources Authority Refunding Revenue Bonds, Series A (NATL-RE, GO of Authority), 5.25%, 08/01/16		4,983,795
	6,800,000	Massachusetts Water Resources Authority Refunding Revenue Bonds, Series C, (GO of Authority), 5.00%, 08/01/23		7,978,032
	6,325,000	Merrimack Valley Regional Transit Authority Cash Flow Management Revenue Notes, 1.00%, 06/20/14		6,330,169
	4,950,000	Metrowest Regional Transit Authority Cash Flow Management GO Notes, (State Aid Appropriation), 0.75%, 09/26/14		4,958,316
	16,275,000	Montachusett Regional Transit Authority Cash Flow Management GO Notes, (State Aid Appropriation), 1.00%, 08/08/14		16,302,017
	16,880,000	Pioneer Valley Transit Authority Cash Flow Management Revenue Notes, 1.00%, 07/25/14		16,905,151
	500,000	Town of Auburn Refunding GO, 2.00%, 06/01/15		509,470
	1,275,000	Town of Belmont Municipal Purpose Loan Refunding GO, 4.00%, 04/15/16		1,364,849
	1,730,000	Town of Watertown Municipal Purpose Loan Refunding GO, 2.00%, 11/01/15		1,774,703

Principal Amount			Value
Massachusetts (continued)
$	11,961,000	Worcester Regional Transit Authority Refunding Revenue Notes, 1.00%, 06/20/14	$	11,970,776
				118,780,453
Michigan — 1.8%
	345,000	Clintondale Community Schools Refunding GO, (NATL-RE, Q-SBLF), 5.00%, 05/01/20		360,508
	635,000	Dexter Community Schools Refunding GO (Q-SBLF), 4.00%, 05/01/18		691,864
	400,000	Hudsonville Public Schools Improvements GO, (Q-SBLF), 5.00%, 05/01/18		458,524
	550,000	Hudsonville Public Schools Improvements GO, (Q-SBLF), 5.00%, 05/01/19		639,612
	125,000	Jackson Public Schools Refunding GO, (AGM, Q-SBLF), 5.00%, 05/01/15		124,999
	25,000	Jackson Public Schools Refunding GO, (AGM, Q-SBLF), 5.00%, 05/01/15(b)		24,999
	1,295,000	Lake Shore Public Schools Refunding GO, (Q-SBLF), 3.00%, 11/01/16		1,371,664
	1,335,000	Michigan State Building Authority Refunding Revenue Bonds, Series I-A, 5.00%, 10/15/15		1,424,365
	1,375,000	Northville Public Schools Refunding GO, (Q-SBLF), 5.00%, 05/01/18		1,550,973
	1,155,000	River Rouge School District Refunding GO, (Q-SBLF), 5.00%, 05/01/16		1,250,045
	775,000	River Rouge School District Refunding GO, (Q-SBLF), 5.00%, 05/01/18		874,185
	1,160,000	River Rouge School District Refunding GO, (Q-SBLF), 5.00%, 05/01/21		1,343,292
	1,000,000	River Rouge School District Refunding GO, (Q-SBLF), 5.00%, 05/01/22		1,161,940
	2,000,000	Rochester Community School District Refunding GO, (Q-SBLF), 4.00%, 05/01/15		2,073,820

Principal Amount			Value
Michigan (continued)
$	2,000,000	Romulus Community Schools Refunding GO (Q-SBLF), 5.00%, 05/01/22	$	2,323,880
	325,000	State of Michigan Environmental Program Refunding GO, Series A, 5.00%, 05/01/16		354,110
	265,000	Stockbridge Community Schools Refunding GO, (AGM, Q-SBLF), 5.00%, 05/01/21		274,548
	4,530,000	University of Michigan Refunding Revenue Bonds, Series C, 4.00%, 04/01/19		5,091,041
	2,045,000	Ypsilanti School District Refunding GO (Assured GTY, Q-SBLF), 5.00%, 05/01/16		2,213,283
				23,607,652
Minnesota — 1.1%
	1,300,000	City of Minneapolis Public Improvements GO, 5.00%, 12/01/17		1,490,411
	450,000	Minnesota Public Facilities Authority Clean Water Revenue Bonds, Series B, 5.00%, 03/01/16		488,147
	1,745,000	New Prague Independent School District No 721 Crossover Refunding GO, (School District Credit Program), 4.00%, 02/01/19		1,959,967
	5,425,000	St. Paul Port Authority Anderson Office Building Refunding Revenue Bonds, Series 3, 5.00%, 12/01/19		6,394,990
	2,000,000	St. Paul Port Authority Anderson Office Building Refunding Revenue Bonds, Series 3, 5.00%, 12/01/21		2,393,240
	1,000,000	State of Minnesota Refunding Revenue Bonds, Series B, 5.00%, 03/01/21		1,189,000
				13,915,755
Mississippi — 0.2%
	1,810,000	Mississippi Development Bank Department of Corrections Refunding Revenue Bonds, Series D, 5.00%, 08/01/18		2,051,653

Principal Amount			Value
Missouri — 1.0%
$	1,020,000	County of Jackson Refunding Revenue Bonds, 4.00%, 12/01/21	$	1,109,515
	300,000	County of Jackson Refunding Revenue Bonds, 4.00%, 12/01/22		323,937
	500,000	Jackson County Reorganized School District No. 4 Blue Springs Refunding GO, Series B, (State Aid Direct Deposit), 5.00%, 03/01/18		566,155
	2,225,000	Missouri State Health & Educational Facilities Authority Columbia Arena Project Refunding Revenue Bonds, 5.00%, 10/01/19		2,598,889
	2,000,000	Missouri State Health & Educational Facilities Authority Columbia Arena Project Refunding Revenue Bonds, 5.00%, 10/01/21		2,368,720
	5,000,000	St. Louis School District Direct Deposit Program GO, (State Aid Direct Deposit), 5.00%, 04/01/22		5,774,450
				12,741,666
Nevada — 0.6%
	1,750,000	Clark County School District School Improvements GO, Series C (AGM), 5.00%, 12/15/15(b)		1,882,685
	2,605,000	Clark County Water Reclamation District GO, Series A, 5.25%, 07/01/20		2,971,081
	3,110,000	Las Vegas Valley Water District Refunding GO, Series A, (NATL-RE, FGIC), 5.00%, 06/01/20		3,258,067
				8,111,833
New Hampshire — 0.2%
	2,250,000	State of New Hampshire Highway Improvements Revenue Bonds, 5.00%, 09/01/19		2,627,483
New Jersey — 5.0%
	500,000	Bergen County Improvement Authority Public Improvements Revenue Bonds, Series B (County GTY), 4.00%, 02/15/16		531,850

Principal Amount			Value
New Jersey (continued)
$	240,000	Bergen County Improvement Authority Refunding Revenue Bonds, Series A (County GTY), 4.00%, 12/15/16	$	261,305
	200,000	Bergen County Improvement Authority Refunding Revenue Bonds, Series A (County GTY), 4.00%, 12/15/17		221,903
	255,000	Denville Township Board of Education Refunding GO, (AGM, School Board Resolution Funding), 4.00%, 02/15/17		272,493
	7,000,000	Garden State Preservation Trust Refunding Revenue Bonds, Series A, 5.00%, 11/01/17		8,009,540
	735,000	Middlesex County Improvement Authority Regional Educational Services Refunding Revenue Bonds, (County GTY), 3.00%, 07/15/16		775,212
	200,000	Monmouth County Improvement Authority Refunding Revenue Bonds (County GTY, Municipal Government GTY), 5.00%, 12/01/22		240,069
	3,050,000	New Jersey Building Authority Refunding Revenue Bonds, Series A, 5.00%, 06/15/16		3,333,101
	1,355,000	New Jersey Economic Development Authority School Facilities Construction Refunding Revenue Bonds, Series DD-1, 5.00%, 12/15/16		1,506,977
	750,000	New Jersey Economic Development Authority School Facilities Construction Refunding Revenue Bonds, Series K, (AMBAC), 5.25%, 12/15/16		808,605
	5,000,000	New Jersey Economic Development Authority School Facilities Construction Refunding Revenue Bonds, Series N-1 (AMBAC), 5.00%, 09/01/17		5,307,100

Principal Amount			Value
New Jersey (continued)
$	1,000,000	New Jersey Economic Development Authority School Facilities Construction Refunding Revenue Bonds, Series N-1(NATL-RE), 5.25%, 09/01/16	$	1,064,160
	5,000,000	New Jersey Economic Development Authority School Facilities Construction Refunding Revenue Bonds, Series N-1, (AMBAC), 5.50%, 09/01/24		6,057,800
	1,500,000	New Jersey Economic Development Authority School Facilities Construction Refunding Revenue Bonds, Series W, 5.00%, 03/01/18		1,693,680
	500,000	New Jersey Economic Development Authority School Facilities Construction Revenue Bonds, Series O, 5.00%, 03/01/18		519,790
	11,690,000	New Jersey Economic Development Authority School Facility Construction Refunding Revenue Bonds, Series EE, 5.00%, 09/01/17		13,218,117
	1,000,000	New Jersey Educational Facilities Authority Higher Education Capital Improvement Refunding Revenue Bonds, Series A, (AGM), 5.00%, 09/01/14		1,015,580
	505,000	New Jersey Educational Facilities Authority Higher Education Capital Improvement Revenue Bonds, 4.00%, 09/01/16		544,168
	1,415,000	New Jersey Educational Facilities Authority Ramapo College Revenue Bonds, Series A, 5.00%, 07/01/14		1,425,995
	25,000	New Jersey Environmental Infrastructure Trust Revenue Bonds, Series 2012, 5.00%, 09/01/16(b)		27,625
	1,160,000	New Jersey Environmental Infrastructure Trust Revenue Bonds, Series 2013, 5.00%, 09/01/16		1,281,788

Principal Amount			Value
New Jersey (continued)
$	15,000	New Jersey Environmental Infrastructure Trust Revenue Bonds, Series A, 5.00%, 09/01/16(b)	$	16,575
	5,105,000	New Jersey Sports & Exposition Authority Refunding Revenue Bonds, Series B (State Appropriation), 5.00%, 09/01/18		5,833,841
	40,000	New Jersey Sports & Exposition Authority Refunding Revenue Bonds, Series B (State Appropriation), 5.00%, 09/01/18(b)		46,604
	1,300,000	New Jersey State Turnpike Authority Refunding Revenue Bonds, Series B, 5.00%, 01/01/20		1,518,140
	1,885,000	New Jersey Transportation Trust Fund Authority Transit Improvement Revenue Bonds, Series A, (State Appropriation), 5.00%, 06/15/16		2,060,814
	1,375,000	New Jersey Transportation Trust Fund Authority Transportation Systems Refunding Revenue Bonds, Series B, (NATL-RE), 5.50%, 12/15/15		1,489,593
	825,000	New Jersey Transportation Trust Fund Authority Transportation Systems Refunding Revenue Bonds, Series B, (NATL-RE), 5.50%, 12/15/16		928,191
	2,750,000	New Jersey Transportation Trust Fund Authority Transportation Systems Refunding Revenue Bonds, Series B-5, 5.25%, 12/15/19(d)		3,242,883
	335,000	New Milford School District Refunding GO, (School Board Resolution Funding), 4.00%, 08/15/15		350,752
	770,000	Township of Montgomery Refunding GO, 3.00%, 08/01/15		796,565
				64,400,816
New Mexico — 0.7%
	4,805,000	City of Albuquerque General Purpose Public Improvements GO, Series A, 5.00%, 07/01/16		5,277,812

Principal Amount			Value
New Mexico (continued)
$	1,000,000	Gadsden Independent School District No 16 Refunding GO, Series B (State Aid Withholding), 4.00%, 08/15/16	$	1,071,370
	250,000	Gadsden Independent School District No 16 Refunding GO, Series B (State Aid Withholding), 4.00%, 08/15/17		273,275
	800,000	Santa Fe Public School District School Improvements GO (State Aid Withholding), 4.00%, 08/01/15		836,880
	800,000	Santa Fe Public School District School Improvements GO (State Aid Withholding), 4.00%, 08/01/16		863,752
	1,000,000	State of New Mexico Public Improvements GO, 5.00%, 03/01/15		1,039,920
				9,363,009
New York — 27.7%
	5,000,000	City of New York Public Improvements GO, Series C, Sub-Series C-A, 5.00%, 08/01/17(d)		5,671,750
	1,355,000	City of New York Public Improvements GO, Series D, 5.00%, 11/01/14(b)		1,387,303
	545,000	City of New York Public Improvements GO, Series D, 5.00%, 11/01/21		557,257
	3,500,000	City of New York Public Improvements GO, Sub-Series D-1, 5.00%, 08/01/22		4,162,060
	5,000,000	City of New York Refunding GO, Series B, 5.00%, 08/01/17		5,671,750
	1,855,000	City of New York Refunding GO, Series C, 5.00%, 08/01/20		2,189,364
	800,000	City of New York Refunding GO, Series C, 5.00%, 08/01/22		951,328
	8,170,000	City of New York Refunding GO, Series D, 5.00%, 08/01/22		9,715,437
	1,870,000	City of New York Refunding GO, Series E, 5.00%, 08/01/16		2,059,749
	4,000,000	City of New York Refunding GO, Series E, 5.00%, 08/01/17		4,537,400

Principal Amount			Value
New York (continued)
$	10,000,000	City of New York Refunding GO, Series G, 5.00%, 08/01/17	$	11,343,500
	9,730,000	City of New York Refunding GO, Series G, 5.00%, 08/01/19		11,412,609
	10,000,000	City of New York Refunding GO, Series G, 5.00%, 08/01/21		11,841,900
	18,500,000	City of New York Refunding GO, Series G, 5.00%, 08/01/22		21,999,460
	3,360,000	City of New York Refunding GO, Series I, 5.00%, 08/01/16		3,700,939
	5,000,000	City of New York Refunding GO, Series I, 5.00%, 08/01/17		5,671,750
	2,000,000	Erie County Industrial Development Agency Refunding Revenue Bonds, Series B, (State Aid Withholding), 5.00%, 05/01/18		2,285,060
	5,000,000	Erie County Industrial Development Agency Refunding Revenue Bonds, Series B, (State Aid Withholding), 5.00%, 05/01/23		5,734,850
	1,925,000	Metropolitan Transportation Authority Refunding Revenue Bonds, Series F, 5.00%, 11/15/21		2,269,248
	2,150,000	Metropolitan Transportation Authority Transit Improvements Revenue Bonds, Series A, 4.00%, 11/15/15		2,271,497
	1,910,000	Metropolitan Transportation Authority Transit Improvements Revenue Bonds, Series C, 5.00%, 11/15/21		2,251,565
	1,000,000	Municipal Assistance Corp. For The City of Troy General Resolution Refunding Revenue Bonds, Series A, (GO of Corp.), 4.50%, 01/15/15		1,030,320
	2,500,000	New York City Municipal Water Finance Authority Fiscal 2009 Revenue Bonds, Series A, 5.50%, 06/15/21		2,936,525

Principal Amount			Value
New York (continued)
$	1,250,000	New York City Municipal Water Finance Authority Fiscal 2014 Refunding Revenue Bonds, Series CC-2, 5.00%, 06/15/18	$	1,388,825
	9,375,000	New York City Transitional Finance Authority Future Tax Secured Refunding Revenue Bonds, Series A, 5.00%, 11/01/18		10,940,719
	1,060,000	New York City Transitional Finance Authority Future Tax Secured Refunding Revenue Bonds, Series A-1, 5.00%, 11/01/14		1,085,429
	1,005,000	New York City Transitional Finance Authority Future Tax Secured Refunding Revenue Bonds, Series B, 5.00%, 11/01/17(b)		1,149,569
	995,000	New York City Transitional Finance Authority Future Tax Secured Refunding Revenue Bonds, Series B, 5.00%, 11/01/17		1,141,096
	1,950,000	New York City Transitional Finance Authority Future Tax Secured Refunding Revenue Bonds, Series B, 5.00%, 02/01/18		2,233,979
	15,920,000	New York City Transitional Finance Authority Future Tax Secured Refunding Revenue Bonds, Sub-Series B, 5.00%, 11/01/21		19,055,126
	3,025,000	New York City Transitional Finance Authority Future Tax Secured Refunding Revenue Bonds, Sub-Series G, 5.00%, 11/01/18		3,530,205
	1,045,000	New York City Transitional Finance Authority Future Tax Secured Refunding Revenue Bonds, Sub-Series G, 5.00%, 11/01/19		1,234,605
	2,425,000	New York City Transitional Finance Authority Future Tax Secured Refunding Revenue Bonds, Sub-Series G, 5.00%, 11/01/21		2,902,555
	935,000	New York City Transitional Finance Authority Future Tax Secured Refunding Revenue Bonds, Sub-Series H, 5.00%, 11/01/18		1,091,154

Principal Amount			Value
New York (continued)
$	1,535,000	New York City Transitional Finance Authority Future Tax Secured Refunding Revenue Bonds, Sub-Series H, 5.00%, 11/01/21	$	1,837,288
	4,700,000	New York City Transitional Finance Authority Future Tax Secured Revenue Bonds, 5.00%, 02/01/17		5,263,624
	515,000	New York City Transitional Finance Authority Future Tax Secured Revenue Bonds, Sub-Series, F-1, 5.00%, 02/01/19		601,257
	1,815,000	New York City Transitional Finance Authority Public Improvement Revenue Bonds, Series C, 5.00%, 11/01/17		2,081,496
	2,200,000	New York City Transitional Finance Authority Public Improvements Revenue Bonds, Series A-1, 5.00%, 05/01/22		2,551,560
	3,235,000	New York City Transitional Finance Authority School Improvement Revenue Bonds, Sub-Series S-1A, (State Aid Withholding), 5.00%, 07/15/21		3,825,129
	6,250,000	New York Local Government Assistance Corp. Refunding Revenue Bonds, Series E, (AGM, GO of Corp.) OID, 5.25%, 04/01/16		6,677,750
	700,000	New York Local Government Assistance Corp. Refunding Revenue Bonds, Sub-Series A-5-6, 5.00%, 04/01/17		786,849
	5,100,000	New York Municipal Bond Bank Agency Refunding Revenue Bonds, (State Aid Withholding), 4.00%, 12/01/17		5,648,811
	10,000,000	New York Municipal Bond Bank Agency Refunding Revenue Bonds, (State Aid Withholding), 5.00%, 12/01/21		11,797,900
	750,000	New York State Dormitory Authority Current Refunding Revenue Bonds, Series A, 4.00%, 07/01/16		805,200

Principal Amount			Value
New York (continued)
$	900,000	New York State Dormitory Authority Economic Development & Housing Revenue Bonds, Series A, 4.00%, 12/15/16	$	982,593
	2,000,000	New York State Dormitory Authority Economic Development & Housing Revenue Bonds, Series A, 5.00%, 12/15/17		2,299,940
	10,005,000	New York State Dormitory Authority General Purpose Revenue Bonds, Series A, 5.00%, 02/15/19		11,668,832
	15,000	New York State Dormitory Authority Mental Health Services Facility Refunding Revenue Bonds, (State Appropriation), 5.00%, 08/15/18(b)		17,472
	1,770,000	New York State Dormitory Authority Mental Health Services Facility Refunding Revenue Bonds, Series A, (State Appropriation), 4.50%, 08/15/17		1,967,426
	550,000	New York State Dormitory Authority Mental Health Services Facility Revenue Bonds, (NATL-RE, FGIC, State Appropriation), 5.00%, 02/15/16		569,756
	2,485,000	New York State Dormitory Authority Mental Health Services Facility Revenue Bonds, (State Appropriation), 5.00%, 08/15/18		2,864,087
	2,110,000	New York State Dormitory Authority Refunding Revenue Bonds, 5.00%, 08/15/18		2,417,659
	15,000,000	New York State Dormitory Authority Refunding Revenue Bonds, Series A, 5.00%, 12/15/20		17,855,250
	1,045,000	New York State Dormitory Authority School Improvement Revenue Bonds, Series A, 5.00%, 03/15/21		1,245,776
	4,000,000	New York State Dormitory Authority School Improvement Revenue Bonds, Series C, 5.00%, 03/15/17		4,494,840

Principal Amount			Value
New York (continued)
$	2,850,000	New York State Dormitory Authority School Improvements Revenue Bonds, Series G, 5.00%, 03/15/17	$	3,202,574
	2,000,000	New York State Environmental Facilities Corp. Refunding Revenue Bonds, 4.00%, 06/15/16		2,152,520
	2,000,000	New York State Environmental Facilities Corp. Refunding Revenue Bonds, Sub-Series A, 5.00%, 06/15/19		2,364,760
	7,000,000	New York State Thruway Authority Highway Improvement Refunding Revenue Bonds, Series B, 5.00%, 04/01/20		8,082,620
	200,000	New York State Thruway Authority Highway Improvement Revenue Bonds, Series A, 4.00%, 03/15/16		213,373
	200,000	New York State Thruway Authority Highway Improvement Revenue Bonds, Series A, 5.00%, 03/15/16		217,079
	1,420,000	New York State Thruway Authority Highway Improvement Revenue Bonds, Series A, 5.00%, 03/15/17		1,595,668
	1,500,000	New York State Thruway Authority Highway Improvement Revenue Bonds, Series A, 5.00%, 03/15/18		1,722,375
	6,000,000	New York State Thruway Authority Highway Improvement Revenue Bonds, Series A, 5.00%, 03/15/19		6,475,020
	1,430,000	New York State Thruway Authority Highway Improvement Revenue Bonds, Series A, 5.00%, 03/15/20		1,690,417
	5,000,000	New York State Thruway Authority Highway Improvement Revenue Bonds, Series A, 5.00%, 03/15/21		5,781,800
	1,900,000	New York State Thruway Authority Highway Improvement Revenue Bonds, Series B, 5.00%, 04/01/21		2,166,000

Principal Amount			Value
New York (continued)
$	410,000	New York State Thruway Authority Refunding Revenue Bonds, Series A, 5.00%, 03/15/16	$	445,014
	400,000	New York State Thruway Authority Refunding Revenue Bonds, Series A, 5.00%, 03/15/17		449,484
	8,000,000	New York State Thruway Authority Refunding Revenue Bonds, Series A, 5.00%, 03/15/21		9,458,160
	5,000,000	New York State Thruway Authority Refunding Revenue Bonds, Series B, 5.00%, 04/01/21		5,745,600
	160,000	New York State Thruway Authority Refunding Revenue Bonds, Series B, (AMBAC), 5.00%, 10/01/15(b)		170,726
	765,000	New York State Thruway Authority Refunding Revenue Bonds, Series B, (AMBAC), 5.00%, 04/01/19		814,381
	1,000,000	New York State Urban Development Corp. Economic Improvements Revenue Bonds, Series A1, 4.00%, 12/15/16		1,091,770
	4,705,000	New York State Urban Development Corp. Public Improvement Revenue Bonds, Series A-1, 5.00%, 03/15/22		5,632,356
	500,000	New York State Urban Development Corp. Refunding Revenue Bonds, Series D, 5.00%, 01/01/15		515,880
	5,000,000	New York State Urban Development Corp. Refunding Revenue Bonds, Series D, 5.50%, 01/01/19		5,873,850
	1,000,000	New York State Urban Development Corp. Service Contract Refunding Revenue Bonds, (AGM), 5.00%, 01/01/15		1,031,760
	10,000,000	Port Authority of New York & New Jersey Refunding Revenue Bonds, 5.00%, 12/01/20		11,859,100
	3,555,000	Port Authority of New York & New Jersey Refunding Revenue Bonds, Series 179, 5.00%, 12/01/18		4,125,009

Principal Amount			Value
New York (continued)
$	1,345,000	Tobacco Settlement Financing Corp. Asset Backed Refunding Revenue Bonds, Series A, 5.00%, 06/01/15	$	1,413,810
	5,980,000	Town of Oyster Bay Public Improvements Refunding Notes GO, Series A, (AGM), 3.00%, 03/01/15		6,112,995
	5,000,000	Triborough Bridge & Tunnel Authority Cash Flow Management Revenue Bonds, Series A, 5.00%, 05/15/15		5,250,350
	5,390,000	Triborough Bridge & Tunnel Authority Toll Road Refunding Revenue Bonds, Series B, 5.00%, 11/15/23		6,485,571
	1,000,000	Utility Debt Securitization Authority Restructuring Refunding Revenue Bonds, Series TE, 5.00%, 12/15/18		1,114,650
				358,921,050
North Carolina — 2.2%
	680,000	Appalachian State University Refunding Revenue Bonds, 5.00%, 05/01/20		789,188
	905,000	Buncombe County Refunding Revenue Bonds, 5.00%, 06/01/21		1,074,669
	475,000	Buncombe County Refunding Revenue Bonds, Series A, 5.00%, 06/01/16		519,318
	1,355,000	Cabarrus County School Improvement COP, 5.00%, 01/01/21		1,539,985
	1,005,000	City of Charlotte Equipment Acquisition Refunding COP, 5.00%, 12/01/16		1,110,615
	4,000,000	County of Mecklenburg Refunding GO, 5.00%, 02/01/19		4,690,040
	3,015,000	County of Mecklenburg Refunding GO, Series A, 5.00%, 12/01/22		3,673,838
	245,000	County of Wake Refunding GO, Series D, 4.00%, 02/01/16		260,665
	2,840,000	County of Wake School Improvements GO, Series A, 5.00%, 04/01/17		3,193,239
	615,000	Dare County Refunding Revenue Bonds, Series D, 4.00%, 06/01/17		675,196

Principal Amount			Value
North Carolina (continued)
$	675,000	Dare County Refunding Revenue Bonds, Series D, 4.00%, 06/01/18	$	751,599
	675,000	Dare County Refunding Revenue Bonds, Series D, 5.00%, 06/01/21		804,971
	1,285,000	Dare County School Improvements COP, (NATL-RE, FGIC), 5.00%, 06/01/17		1,351,023
	1,565,000	Johnston County School Improvements GO, (NATL-RE), 5.00%, 02/01/20		1,691,327
	325,000	North Carolina State University At Raleigh Refunding Revenue Bonds, Series A, 5.00%, 10/01/21		390,556
	2,000,000	Orange County Public Facilities Co. Refunding Revenue Bonds, 5.00%, 10/01/21		2,379,220
	1,745,000	State of North Carolina Annual Appropriation Revenue Bonds, Series A, 4.50%, 05/01/14		1,745,000
	1,595,000	Town of Cary Public Improvememts GO, 5.00%, 03/01/17		1,788,697
				28,429,146
Ohio — 0.7%
	2,365,000	Ohio State Building Authority Facilities Administration Building Project Refunding Revenue Bonds, Series B, (NATL-RE, FGIC), 5.00%, 10/01/18		2,740,680
	400,000	Ohio State Department of Administrative Services Knowledge System COP, Series A, (NATL-RE), 5.00%, 09/01/16		415,087
	400,000	RiverSouth Authority Area Redevelopment Refunding Revenue Bonds, 4.00%, 06/01/16		427,107
	320,000	RiverSouth Authority Area Redevelopment Refunding Revenue Bonds, 5.00%, 06/01/24		367,754
	1,000,000	State of Ohio Capital Facilities Lease Appropriation Refunding Revenue Bonds, 5.00%, 10/01/17		1,136,470

Principal Amount			Value
Ohio (continued)
$	1,300,000	State of Ohio Refunding GO, Series B, 5.00%, 09/15/14	$	1,322,945
	500,000	State of Ohio Refunding GO, Series B, 4.00%, 08/01/16		539,960
	590,000	University of Cincinnati College & University Refunding Revenue Bonds, Series A (AMBAC), 5.00%, 06/01/15		619,925
	1,730,000	University of Cincinnati College & University Refunding Revenue Bonds, Series A, (State Appropriation), 5.00%, 06/01/17		1,935,489
				9,505,417
Oklahoma — 0.6%
	5,275,000	Tulsa County Independent School District No 3 Broken Arrow Combined Purpose School Improvements GO, 2.00%, 04/01/16		5,437,101
	2,680,000	University of Oklahoma Refunding Revenue Bonds, Series C, 2.00%, 07/01/16		2,769,592
				8,206,693
Oregon — 0.8%
	575,000	City of Portland Water System Refunding Revenue Bonds, 5.00%, 10/01/16		635,766
	1,300,000	City of Portland Water System Refunding Revenue Bonds, Series A, 5.00%, 05/01/17		1,467,531
	2,015,000	Lane County School District No 19 Springfield School Improvements GO, Series B, (AGM, School Board GTY), 5.00%, 06/15/17		2,242,876
	1,000,000	Multnomah County School District No 1 School Improvements GO, Series A (School Board GTY), 5.00%, 06/15/14		1,005,964
	100,000	Multnomah-Clackamas Counties Centennial School District No 28JT Refunding GO, (AGM, School Board GTY), 5.00%, 12/15/19		116,249

Principal Amount			Value
Oregon (continued)
$	1,755,000	Washington & Multnomah Counties School District No 48J Beaverton Refunding GO, Series B, (School Board GTY), 4.00%, 06/15/19	$	1,959,984
	1,000,000	Washington County School District No 15 Forest Grove Refunding GO, (AGM, School Board GTY), 5.00%, 06/15/14		1,005,801
	2,200,000	Yamhill Clackamas & Washington Counties School District No 29J Newberg Refunding GO (NATL-RE, School Board GTY), 5.50%, 06/15/17		2,520,738
				10,954,909
Pennsylvania — 1.2%
	7,000,000	Pennsylvania Economic Development Financing Authority Refunding Revenue Bonds, Series A, 5.00%, 01/01/18		8,002,540
	7,000,000	Philadelphia School District Refunding GO, Series C (State Aid Withholding), 5.00%, 09/01/18		7,843,640
				15,846,180
Puerto Rico — 0.0%
	120,000	Puerto Rico Highway & Transportation Authority Highway Improvements Revenue Bonds OID, Series W, 5.50%, 07/01/15(b)		123,896
Rhode Island — 0.1%
	705,000	Rhode Island Health & Educational Building Corp. Town of East Greenwich Revenue Bonds, Series A, (Municipal Government GTY), 4.00%, 05/15/18		770,741
South Carolina — 0.9%
	4,530,000	County of Charleston Refunding GO, Series A, 5.00%, 11/01/21		5,484,833
	880,000	Lexington County School District No 2 Refunding GO (South Carolina School District), 4.00%, 03/01/17		956,358

Principal Amount			Value
South Carolina (continued)
$	2,090,000	Lexington County School District No 2 Refunding GO (South Carolina School District), 5.00%, 03/01/18	$	2,378,232
	1,635,000	Lexington County School District No 2 Refunding GO (South Carolina School District), 5.00%, 03/01/20		1,911,102
	330,000	State of South Carolina University & College Improvements GO, Series B, 5.00%, 03/01/19		388,238
	680,000	State of South Carolina University & College Improvements GO, Series E (State Aid Withholding), 5.00%, 03/01/19		800,006
				11,918,769
Tennessee — 0.1%
	1,075,000	City of Knoxville Wastewater System Revenue Bonds, Series B, 5.00%, 04/01/22		1,270,618
Texas — 12.3%
	1,255,000	Alamo Community College District GO, Series A, (NATL-RE), 5.50%, 08/15/15		1,339,838
	4,220,000	Alamo Community College District Refunding GO, 4.00%, 02/15/17		4,601,193
	95,000	Aledo Independent School District Improvements GO, (PSF-GTD), 5.00%, 02/15/15(b)		98,595
	1,165,000	Aledo Independent School District Improvements GO, (PSF-GTD), 5.00%, 02/15/20		1,209,084
	600,000	Arlington Independent School District Improvements GO, Series A, (PSF-GTD), 4.00%, 02/15/15		617,994
	800,000	Austin Independent School District Refunding GO (PSF-GTD), 5.00%, 08/01/16		881,936
	400,000	Beaumont Independent School District Improvements GO, (PSF-GTD), 4.00%, 02/15/18		442,803

Principal Amount			Value
Texas (continued)
$	1,300,000	City of Austin Public Property Finance Contractual GO, 1.00%, 11/01/14	$	1,305,655
	1,095,000	City of Friendswood Waterworks & Sewer System Refunding Revenue Bonds, (AGM), 5.00%, 03/01/21		1,170,577
	1,000,000	City of League Waterworks & Sewer GO, Series A, 5.00%, 02/15/22		1,178,000
	1,775,000	City of Lubbock Public Improvement GO, 5.25%, 02/15/20		2,036,564
	950,000	City of Richardson Public Improvememt GO, (NATL-RE), 5.25%, 02/15/15(b)		987,801
	330,000	City of Richardson Public Improvememt GO, (NATL-RE), 5.25%, 02/15/20		342,626
	265,000	City of Rockwall Refunding GO, 4.00%, 08/01/22		286,767
	800,000	City of San Antonio Water System Refunding Revenue Bonds, Series A, 3.00%, 05/15/16		842,464
	260,000	Coppell Independent School District School Building GO, (PSF-GTD), 4.00%, 08/15/16		280,522
	1,710,000	County of Bexar Limited Tax Refunding GO, 2.00%, 06/15/15		1,744,918
	1,025,000	County of Bexar Limited Tax Refunding GO, 2.00%, 06/15/15		1,045,931
	875,000	County of Bexar Limited Tax Refunding GO, 3.00%, 06/15/16		921,830
	1,200,000	County of Bexar Limited Tax Refunding GO, 4.00%, 06/15/16		1,289,400
	580,000	County of Bexar Limited Tax Refunding GO, 4.00%, 06/15/16		623,210
	1,000,000	County of Williamson Limited Tax Refunding GO, 5.00%, 02/15/21		1,192,740
	1,095,000	Cypress-Fairbanks Independent School District Refunding GO, Series A, (PSF-GTD), 4.00%, 02/15/17		1,196,441

Principal Amount			Value
Texas (continued)
$	4,000,000	Cypress-Fairbanks Independent School District School Improvements GO, Series B-2 (PSF-GTD), 3.00%, 02/15/40(c)	$	4,259,960
	3,000,000	Cypress-Fairbanks Independent School District School Improvements GO, Series B-3 (PSF-GTD), 2.00%, 02/15/44		3,059,550
	245,000	Deer Park Independent School District Limited Tax GO, (AGM), 5.00%, 02/15/17		272,349
	7,630,000	Denton Independent School District GO, (PSF-GTD), 2.00%, 08/01/43(c)		7,825,862
	8,360,000	Eagle Mountain & Saginaw Independent School District GO (PSF-GTD), 2.50%, 08/01/50(c)		8,404,475
	520,000	Forsan Independent School District Refunding GO (PSF-GTD), 4.00%, 02/15/17		566,972
	250,000	Frisco Independent School District School Building GO, Series A, (PSF-GTD), 6.13%, 08/15/21		300,838
	3,000,000	Goose Creek Consolidated Independent School District School Improvements GO, Series B, (PSF-GTD), 3.00%, 02/15/35(c)		3,192,810
	700,000	Grapevine Tax Increment Refunding GO, Series A, (NATL-RE), 5.00%, 08/15/17		725,256
	1,000,000	Grapevine Tax Increment Refunding GO, Series A, (NATL-RE), 5.00%, 08/15/19		1,035,920
	330,000	Grapevine-Colleyville Independent School District Refunding GO, (PSF-GTD), 5.00%, 08/15/15(b)		350,203
	1,025,000	Hallsville Independent School District Refunding GO, (PSF-GTD), 4.00%, 02/15/15		1,055,740
	720,000	Hallsville Independent School District Refunding GO, (PSF-GTD), 4.00%, 02/15/16		767,066
	1,000,000	Harris County Refunding GO, Series C, (AGM), 5.25%, 08/15/19		1,195,750

Principal Amount			Value
Texas (continued)
$	10,000	Hays Consolidated Independent School District GO, (PSF-GTD), 5.25%, 08/15/14(b)	$	10,140
	365,000	Hays Consolidated Independent School District GO, (PSF-GTD), 5.25%, 08/15/18		370,168
	500,000	Hidalgo County Certificates of Obligation GO, (NATL-RE), 4.50%, 08/15/19		538,600
	2,990,000	Houston Community College System Student Fee Revenue Bonds, Senior Lien, (AGM), 5.25%, 04/15/21		3,364,049
	5,000,000	Houston Independent School District Limited Tax School House GO, Series B, (PSF-GTD), 1.00%, 06/01/35(c)		5,003,050
	265,000	Joshua Independent School District Refunding GO, Series C (PSF-GTD), 5.45%, 02/15/16		274,829
	1,570,000	Lewisville Independent School District Refunding GO, (PSF-GTD), 5.00%, 08/15/14		1,591,352
	4,500,000	Lower Colorado River Authority Refunding Revenue Bonds, 5.00%, 05/15/16		4,898,475
	560,000	McAllen Independent School District Refunding GO, (PSF-GTD), 5.00%, 02/15/16		581,190
	6,000,000	Mesquite Independent School District Refunding GO, Series B (PSF-GTD), 5.00%, 08/15/16		6,616,500
	1,135,000	Mesquite Independent School District School Improvements GO, Series A (PSF-GTD), 2.50%, 08/15/15		1,167,552
	5,625,000	Midlothian Independent School District GO, Series B (PSF-GTD), 2.25%, 08/01/51(c)		5,653,856
	6,000,000	North East Independent School District GO, Series A (PSF-GTD), 1.00%, 08/01/43(c)		6,008,460
	13,000,000	Northside Independent School District Refunding GO (PSF-GTD), 1.50%, 08/01/34(c)(d)		13,168,480

Principal Amount			Value
Texas (continued)
$	1,905,000	Northside Independent School District Refunding GO, Series A, (PSF-GTD), 1.35%, 06/01/39(c)	$	1,906,391
	6,500,000	Northside Independent School District, School Improvements GO (PSF-GTD), 1.90%, 08/01/40(c)		6,524,180
	1,105,000	Pasadena Independent School District GO, (PSF-GTD), 5.00%, 02/15/17		1,237,103
	525,000	Red Oak Independent School District School Building GO, (PSF-GTD), 5.00%, 08/15/18		595,639
	275,000	Rockwall Independent School District Improvements GO, (PSF-GTD), 4.75%, 02/15/15(b)		284,873
	225,000	Rockwall Independent School District Improvements GO, (PSF-GTD), 4.75%, 02/15/15		233,060
	1,255,000	San Felipe-Del Rio Consolidated Independent School District Refunding GO, (PSF-GTD), 3.00%, 02/15/15		1,282,886
	1,100,000	San Felipe-Del Rio Consolidated Independent School District Refunding GO, (PSF-GTD), 3.00%, 02/15/16		1,152,415
	145,000	Seagraves Independent School District School Building GO, (PSF-GTD), 4.00%, 02/15/19		161,226
	2,600,000	Spring Branch Independent School District School House Improvements GO, (PSF-GTD), 3.00%, 06/15/41(c)		2,674,854
	2,705,000	Spring Independent School District School Building GO, (PSF-GTD), 5.00%, 02/15/15		2,807,141
	1,150,000	Teague Independent School District School Improvements GO (PSF-GTD), 3.38%, 02/15/15		1,178,727
	10,000,000	Texas Public Finance Authority Unemployment Compensation Refunding Revenue Bonds, 5.00%, 07/01/16		10,988,500

Principal Amount			Value
Texas (continued)
$	1,070,000	Texas Transportation Commission State Highway Fund Highway Improvements First Tier Revenue Bonds, 5.00%, 04/01/17	$	1,204,413
	1,390,000	Texas State University Systems University and College Improvement Revenue Bonds, 5.00%, 03/15/17		1,558,579
	1,775,000	Texas Transportation Commission State Highway Fund Highway Improvements First Tier Revenue Bonds, Series A, 5.00%, 04/01/16		1,933,756
	3,150,000	Tomball Independent School District School Improvements GO, Series B-3, (PSF-GTD), 2.00%, 02/15/43(c)		3,246,705
	1,900,000	University of North Texas Refunding Revenue Bonds, 5.00%, 04/15/20		2,233,089
	4,730,000	University of North Texas Refunding Revenue Bonds, 5.00%, 04/15/21		5,555,243
	2,075,000	University of Texas Financing Systems Refunding Revenue Bonds, Series A, 5.00%, 08/15/17		2,365,064
	1,610,000	University of Texas Financing Systems Refunding Revenue Bonds, Series E, 5.00%, 08/15/15		1,708,564
	145,000	Victoria Utility System, Water & Wastewater Authority Refunding Revenue Bonds, (AMBAC), 5.00%, 12/01/17		164,046
				158,892,795
Utah — 0.2%
	1,975,000	Alpine School District School Building GO, (School Board GTY), 5.00%, 03/15/21		2,358,999
	125,000	South Jordan Water Refunding Revenue Bonds, (AMBAC), 5.00%, 11/01/15		133,819
				2,492,818
Virginia — 2.2%
	715,000	City of Charlottesville Public Improvememts GO, 3.00%, 08/15/14		720,756

Principal Amount			Value
Virginia (continued)
$	1,000,000	City of Newport News Water Improvement Refunding GO, Series B (State Aid Withholding), 5.25%, 07/01/14	$	1,008,540
	155,000	City of Norfolk Water Refunding Revenue Bonds, 5.00%, 11/01/22		184,758
	1,290,000	City of Roanoke Refunding GO, Series A (State Aid Withholding), 5.00%, 07/15/23		1,555,753
	600,000	County of Prince William Facilities Refunding COP, 4.00%, 10/01/17		660,114
	1,350,000	Fairfax County Economic Development Authority Community Services Facilities Project Revenue Bonds, Series A, 4.50%, 03/01/20		1,518,777
	1,225,000	Tobacco Settlement Financing Corp. Asset Backed Revenue Bonds, 5.63%, 06/01/15(b)		1,296,822
	2,530,000	Virginia College Building Authority Educational Facilities 21st Century College & Equipment Programs Refunding Revenue Bonds, Series C (State Appropriation), 4.00%, 02/01/15		2,601,903
	2,000,000	Virginia College Building Authority Public Higher Education Refunding Revenue Bonds, Series B (State Appropriation), 5.00%, 09/01/21		2,363,740
	5,130,000	Virginia College Building Authority Public Higher Education Refunding Revenue Bonds, Series B (State Appropriation), 5.00%, 09/01/22		5,989,788
	5,000,000	Virginia Commonwealth Transportation Board Transit Improvements Revenue Bonds, 5.00%, 03/15/23		5,945,850
	2,465,000	Virginia Public Building Authority Revenue Bonds, Series A, 5.00%, 08/01/21		2,964,680

Principal Amount			Value
Virginia (continued)
$	1,250,000	Virginia Public Building Authority Revenue Bonds, Series B (State Appropriation), 5.00%, 08/01/21	$	1,453,850
				28,265,331
Washington — 1.9%
	100,000	CDP-King County III Lease King Street Center Project Refunding Revenue Bonds, (NATL-RE), 5.00%, 06/01/17		110,373
	2,525,000	Clark County School District No 117 Camas Refunding GO, (School Board GTY), 5.00%, 12/01/17		2,875,672
	705,000	Energy Northwest Columbia Generating Station Refunding Revenue Bonds, Series S, 5.00%, 07/01/15		744,120
	800,000	Island County School District No 201 Oak Harbor School Improvements GO, (School Board GTY), 5.00%, 12/01/16		882,128
	680,000	King County Public Transportation Sales Tax Refunding GO, 4.00%, 12/01/18		757,717
	320,000	King County School District No. 401 Highline Refunding GO, (School Board GTY), 5.00%, 12/01/20		369,647
	1,500,000	King County School District No. 414 Lake Washington GO, (School Board GTY), 5.00%, 12/01/20		1,699,170
	1,315,000	Spokane County School District No 363 West Valley Refunding GO, (School Board GTY), 5.00%, 12/01/18		1,505,110
	2,000,000	State of Washington Department of Ecology Refunding COP, Series B, (AMBAC), 5.00%, 04/01/16		2,173,660
	800,000	State of Washington Motor Vehicle Fuel Tax GO, Series E, 5.00%, 02/01/23		950,432
	605,000	State of Washington Refunding GO, Series R-2006A (AMBAC), 5.00%, 07/01/15(b)		638,499
	745,000	State of Washington Refunding GO, Series R-2006A (AMBAC), 5.00%, 07/01/17		785,446

Principal Amount			Value
Washington (continued)
$	4,000,000	State of Washington Refunding GO, Series R-2012C, 5.00%, 07/01/23	$	4,785,680
	3,250,000	State of Washington Senior 520 Corridor Program Highway Improvements Revenue Bonds, 5.00%, 09/01/19		3,780,888
	2,005,000	University of Washington Refunding Revenue Bonds, 5.00%, 12/01/15		2,154,994
				24,213,536
West Virginia — 0.1%
	125,000	West Virginia University Revenue Bonds, Series A, (NATL-RE), 5.50%, 04/01/17		141,259
	800,000	West Virginia University Revenue Bonds, Series B, 5.00%, 10/01/14		815,720
				956,979
Wisconsin — 1.2%
	1,390,000	City of La Crosse Promissory Notes Public Improvements GO, Series A, 3.00%, 12/01/15		1,448,144
	1,925,000	State of Wisconsin Public Improvements GO, Series A, 5.00%, 05/01/16		2,100,637
	10,000,000	State of Wisconsin Refunding GO, Series 1, 5.00%, 05/01/16		10,912,400
	500,000	State of Wisconsin Sewer Improvements Revenue Bonds, Series 1, 5.00%, 06/01/14		501,972
	1,000,000	State of Wisconsin Sewer Improvements Revenue Bonds, Series 2, 5.00%, 06/01/14		1,004,023
				15,967,176
Total Municipal Bonds (Cost $1,257,558,124)				1,280,296,156

Shares			Value
INVESTMENT COMPANY — 3.3%
	42,373,200	SEI Daily Income Trust Government II Fund, Class A, 0.01%(e)	$	42,373,200
Total Investment Company (Cost $42,373,200)				42,373,200
TOTAL INVESTMENTS — 102.3% (Cost $1,299,931,324)(a)			$	1,322,669,356
LIABILITIES IN EXCESS OF OTHER ASSETS — (2.3)%				(29,366,011	)
NET ASSETS — 100.0%			$	1,293,303,345

(a)	Cost for federal income tax purposes is $1,300,010,208 and net unrealized appreciation of investments is as follows:

Unrealized appreciation	$	26,598,537
Unrealized depreciation		(3,939,389	)
Net unrealized appreciation	$	22,659,148

(b)	These securities are pre-refunded; the date shown represents the pre-refunded date. Bonds which are pre-refunded are collateralized by U.S. Government securities which are held in escrow and are used to pay principal and interest on the municipal issue and to retire the bonds in full at the earliest refunding date.
(c)	Variable rate security. Rate shown is the rate as of April 30, 2014.
(d)	The security is subject to remarketing prior to its stated maturity, and is subject to mandatory redemption at the stated maturity date.
(e)	Rate shown represents current yield at April 30, 2014.

AGM — Assured Guaranty Municipal Corp.

AMBAC — Insured by AMBAC Indemnity Corp.

COP — Certificates of Participation

FGIC — Insured by Financial Guaranty Insurance Corp.

GO — General Obligations

GTY — Guaranty

NATL-RE — Insured by National Public Finance Guarantee Corp.

OID — Original Issue Discount

PSF-GTD — Permanent School Fund Guarantee

Q–SBLF — Qualified-School Bond Loan Fund

XLCA — XL Capital Insurance

Portfolio diversification by State (Unaudited)

State	Percentage of Net Assets
Alabama		0.6	%
Arizona		1.0	%
Arkansas		0.1	%
California		2.6	%
Colorado		0.7	%
Connecticut		2.1	%
District Of Columbia		0.5	%
Florida		3.1	%
Georgia		4.6	%
Hawaii		0.8	%
Idaho		0.1	%
Illinois		1.8	%
Indiana		2.3	%
Iowa		0.2	%
Kansas		0.2	%
Kentucky		1.4	%
Louisiana		0.2	%
Maine		0.5	%
Maryland		4.2	%
Massachusetts		9.2	%
Michigan		1.8	%
Minnesota		1.1	%
Mississippi		0.2	%
Missouri		1.0	%
Nevada		0.6	%
New Hampshire		0.2	%
New Jersey		5.0	%
New Mexico		0.7	%
New York		27.7	%
North Carolina		2.2	%
Ohio		0.7	%
Oklahoma		0.6	%
Oregon		0.8	%
Pennsylvania		1.2	%
Puerto Rico		0.0	%
Rhode Island		0.1	%
South Carolina		0.9	%
Tennessee		0.1	%
Texas		12.3	%
Utah		0.2	%
Virginia		2.2	%
Washington		1.9	%
West Virginia		0.1	%
Wisconsin		1.2	%
Other*		1.0	%
		100.0	%

*	Includes cash and equivalents, investment companies, pending trades and Fund share transactions, interest and dividends receivable, prepaids and accrued expenses payable.

Old Westbury Funds, Inc. (the “Corporation”) was organized as a Maryland corporation on August 26, 1993 and commenced operations on October 22, 1993. The Corporation is an open-end management investment company registered under the Investment Company Act of 1940, as amended (the “1940 Act”). The Corporation’s Articles of Restatement, as amended, permit the Corporation’s Board of Directors (the “Board”) to create an unlimited number of series, each with one or more separate classes of shares. At April 30, 2014, the Corporation consisted of seven separate investment portfolios (each series individually referred to as a “Fund” and collectively as the “Funds”) shown below:

The Corporation has authorized a total of 20 billion shares of common stock (par value $0.001 per share).

Under the Corporation’s organizational documents, its Officers and Directors are indemnified against certain liabilities arising out of the performance of their duties for the Corporation. In addition, in the normal course of business, the Corporation enters into contracts with vendors and others that provide for general indemnifications. The Corporation’s maximum exposure under these arrangements is unknown as this would involve future claims that may be made against the Corporation. However, based on experience, the Corporation expects the risk of loss to be remote.

The consolidated financial statements of the Real Return Fund include the financial results of its wholly-owned subsidiary (organized under the laws of the Cayman Islands), OWF Real Return Fund, Ltd. (the “Subsidiary”). All material intercompany accounts and transactions have been eliminated. The Subsidiary commenced operations on November 7, 2008. The Real Return Fund commenced reporting on a consolidated basis as of such commencement date. The Subsidiary is a commodity pool, as defined in the regulations of the Commodity Futures Trade Commission (the “CFTC”), and is operated by Bessemer Investment Management LLC (“BIM”) (“Adviser”), a commodity pool operator registered with the CFTC effective, January 1, 2013. The Real Return Fund seeks to gain exposure to commodities, commodities-related instruments, derivatives and other investments by directly investing in those instruments or through investments in the Subsidiary. The Subsidiary has the same investment goal as the Real Return Fund. The Subsidiary pursues its investment goal by investing in commodities, commodities-related instruments, derivatives and other investments. The Subsidiary (unlike the Real Return Fund) may invest without limitation in these instruments. However, the Subsidiary is otherwise subject to the same fundamental, non-fundamental and certain other investment restrictions as the Real Return Fund. The portion of the Real Return Fund’s or Subsidiary’s assets exposed to any particular commodity, derivative or other investment will vary based on market conditions, but from time to time some exposure could be substantial. To the extent of the Real Return Fund’s investment through the Subsidiary, it will be subject to the risks associated with the commodities, derivatives and other instruments in which the Subsidiary invests. As of April 30, 2014, the Subsidiary represented $344,582,012, or 35.11% of the Real Return Fund’s net assets.

The following is a summary of the significant accounting policies followed by the Corporation in the preparation of its financial statements. The policies are in conformity with accounting principles generally accepted in the U.S. (“U.S. GAAP”). The preparation of financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions

that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of income and expenses for the period. Actual results could differ from those estimates.

The Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) is the exclusive reference of authoritative U.S. GAAP recognized by the FASB to be applied by nongovernmental entities. Rules and interpretive releases of the Securities and Exchange Commission (“SEC”) under authority of federal laws are also sources of authoritative GAAP for SEC registrants such as the Corporation.

A. Valuation of Investments. Readily marketable equity securities listed on an exchange are valued, except as indicated below, at the last sale price reflected at the close of the regular trading session of the exchange on the business day as of which such value is being determined, and securities listed on NASDAQ are valued at the NASDAQ Official Closing Price (“NOCP”) and, if no NOCP is available, then at the last reported sales price. If there has been no sale on such day, the securities are valued at the mean of the closing bid and asked prices on such day. If no bid or asked prices are quoted on such day, then the securities are valued using a broker-dealer quote or an approved pricing service. Equity securities traded on more than one national securities exchange are valued at the last sale price on the business day as of which such value is being determined as reflected on the tape at the close of the exchange representing the principal market for such securities.

Readily marketable equity securities traded in the over-the-counter market, including listed securities whose primary market is believed by BIM, or a sub-adviser, as applicable, to be over-the-counter, are valued at the mean of the latest bid and asked prices using a broker-dealer or an approved pricing service.

Shares of open-end investment companies are valued at the latest net asset value (“NAV”) reported by the investment company. Shares of investment companies that are traded intra-day on an exchange (e.g., exchange traded funds) will be valued at the last sale price as reflected at the close of the regular trading session of such exchange.

U.S. government obligations and other debt instruments having 60 days or less remaining until maturity are valued at amortized cost. Debt instruments having a greater remaining maturity will be valued on the basis of prices obtained from a broker-dealer or an approved pricing service. Sallie Mae bonds will be valued on the basis of counterparty valuation quotations or dealer quotations, subject to review by BIM, or a sub-adviser where appropriate.

Foreign securities generally are valued in their national currency at the latest available quoted sale price as of the close of trading on the foreign exchange or other principal market on which the security is traded. In the absence of current trade activity, the securities will be valued at the mean of the latest bid/ask quotations. As described below, this value is then converted into its U.S. dollar equivalent using the daily rate of exchange at the time of a Fund’s NAV calculation (normally 4:00 pm Eastern Time).

Forward currency contracts are valued at the mean between the bid and the asked prices. Quotations are available for regularly scheduled settlement dates such as on a 1,2,3,4,5,6,9, and 12-month basis. Over-the-counter derivatives, such as swaps and non-exchange traded options and futures are valued on the basis of counterparty valuation quotations or dealer quotations, subject to review by BIM, or a sub-adviser where appropriate. An approved pricing service may also be used to price these instruments. Exchange-traded swaps, options and futures contracts and options thereon are valued at their last sale or settlement price as of the close of such exchanges or, if no sales are reported, at the mean between the last reported bid and asked prices. Repurchase agreements are valued at original cost. Contracts for long puts and calls are valued at the bid price and short puts and calls will be valued at the offering price of a broker-dealer or an exchange. Generally, options, rights/ warrants and other “when-issued” securities follow the same pricing methods as equity securities.

Securities and assets for which market quotations are not readily available are valued under the general supervision and responsibility of the Board and pursuant to policies and procedures established by the Board, which are designed to reflect, in good faith, the fair value of such investments or other assets. A market quotation is considered not readily available if, among other circumstances, the most recent reported price is deemed unreliable. For example, securities that may be subject to fair valuation include, but are not limited to: (1) securities in which trading has been halted pending further news; (2) illiquid securities in which there is no trading market and no broker coverage; (3) stale priced securities; (4) securities that may have defaulted or de-listed from an exchange and are no longer trading; (5) any other security for which the Funds’ Pricing Committee, with input from the Adviser or sub-advisers, as applicable, believes that the last trading price does not represent a reliable current price; or (6) other assets, including real assets and derivatives for which readily available market quotations are not generally available. In addition, a Fund may fair value securities that trade on a foreign exchange because a significant event has occurred after the foreign exchange closes but before the time as of which a Fund’s share price is calculated. Foreign exchanges typically close before the time as of which Fund share prices are calculated, and may be closed altogether on

some days a Fund is open. Such significant events affecting a foreign security may include, but are not limited to: (1) those relating to a single issuer; (2) governmental actions that affect securities in one sector or country; (3) natural disasters or armed conflicts affecting a country or region; or (4) significant market fluctuations. There is no single standard for determining the fair value of a security or asset, but, rather, several factors are considered including an evaluation of the forces that influence the market in which the security or asset is purchased or sold, in determining whether a market price is readily available and, if not, the security’s or asset’s fair value.

In light of the judgment involved in fair value decisions, there can be no assurances that a fair value assigned to a particular security reflects a price for which a security has traded or will trade. Accordingly, when a Fund uses fair value to price securities, it may value those securities higher or lower than another fund that uses market quotations to price the same securities.

Real assets (i.e., assets not constituting securities or securities whose value is determined by underlying real assets), including collectibles such as coins, for which there is no readily available market quotation are valued on the basis of appraised value as determined by an independent appraiser selected by BIM. Appraisals are obtained on an ongoing, periodic basis in order to assure current valuations; appraisals generally are obtained not less frequently than quarterly and appraised values may be updated between appraisals on the basis of reported industry benchmarks.

In the event of a change in the S&P 500 Index that is greater than predetermined levels approved by the Board, the Funds will utilize an approved pricing service that has been designated to determine fair value to price securities traded on any overseas exchange. Pricing Service Vendors base their valuations on a number of factors, including, but not limited to, actual transaction data, benchmark yields, market bids, market offers, quotations from dealers, credit risk spreads, interest rate spreads, proprietary pricing models, cash flows, prepayment information, default rates, delinquency and loss assumptions, collateral characteristics, credit enhancements, specific deal information and other relationships observed in markets of comparable securities.

In addition, foreign securities held by a Fund may trade on weekends or other days when the Fund does not calculate NAV. As a result, the market value of these investments may change on days when shares of the Fund cannot be bought or sold. Such fair valuations are categorized as Level 2 in the fair value hierarchy. Foreign securities that are valued based on market quotations are categorized as Level 1 in the fair value hierarchy. The Large Cap Strategies Fund, Small & Mid Cap Fund and the Strategic Opportunities Fund utilized a systematic fair valuation model provided by an independent third-party vendor to fair value certain securities 11 days during the period ended April 30, 2014. As a result on days when the index change exceeds predetermined levels, certain securities held by the Funds were transferred from Level 1 into Level 2. On any subsequent day when such index level is not exceeded, certain securities held by the Funds were transferred from Level 2 back into Level 1. As of April 30, 2014, foreign securities were not fair valued as the change in the S&P 500 Index did not exceed the Funds’ predetermined level. There were no other transfers between Level 1 and Level 2 during the period ended April 30, 2014.

The fair value of investments is determined in accordance with the valuation policies and procedures approved by the Board. The Funds’ Pricing Committee established by the Board (the “Pricing Committee”) reviews pricing methodologies on at least a quarterly basis. The Pricing Committee is responsible for (i) establishing valuation processes and (ii) determining the fair value of the Funds’ holdings for which price quotations are not readily available, unreliable or for which an approved valuation method is inappropriate. These investments are either categorized as Level 2 or 3 depending on the observability of the inputs used. The Pricing Committee may consider one or more factors in determining an investment’s fair value. The factors to be taken into account, to the extent relevant, typically include, but are not limited to: fundamental analytical data relating to the investment, the nature and duration of any restrictions on disposition of the investments, an evaluation of the forces that influence the market in which the investments are purchased or sold, the type of investment, financial statements and company filings, lack of marketability, the cost at date of purchase, good faith recommendation of BIM or a sub-adviser, as applicable, and any other relevant matters. When the fair valuation of investments use significant unobservable inputs, such investments will be categorized as Level 3 in the fair value hierarchy.

The significant unobservable inputs used in fair value measurement of the Funds’ Level 3 investments may include, where applicable: (i) an estimation of a normalized earnings level or projected cash flows for the company; (ii) the discounts applied to the last available price of the investment or a selection of comparable investments due to the lack of marketability of the investment; (iii) values or bid offers by dealers or other third parties and (iv) the value associated with the latest round of financing. Significant changes in any of those inputs in isolation may result in a significantly lower or higher fair value measurement. Generally, a change in the assumptions used for the normalized earnings level will be accompanied by a directionally similar change in the discounts applied to the list of comparable investments.

The Funds’ Pricing Committee employs various methods for calibrating the valuation approach related to investments categorized within Level 3 in the fair value hierarchy. These methods may include regular due diligence of the Funds’ pricing vendors including back testing of trigger related fair value prices, a regular review of key inputs and assumptions, reviews of missing and stale prices and price variance analysis, including investigation of unusual or unexpected pricing changes and reviews of any market-related activities. Additionally, the pricing of all fair value holdings is subsequently reviewed and approved by the Funds’ Board.

B. Security Transactions and Related Investment Income. Security transactions are accounted for no later than the first net asset value calculation on the first business day following the trade date. However, for financial reporting purposes, portfolio securities transactions are reported on trade date. Realized gains and losses on security transactions are determined using the identified cost method. Dividend income and other distributions from portfolio securities are recorded on the ex-dividend date, except for certain dividends from foreign securities where the ex-dividend dates may have passed are recorded as soon as the Funds are informed of the dividends. Upon notification from issuers, some of the dividend income received from a real estate investment trust may be redesignated as a reduction of cost of the related investment and/or realized gain. Dividend income is recorded net of foreign taxes withheld where recovery of such taxes is not assured. Interest income is recognized on an accrual basis for each of the Funds and includes where applicable, the amortization of premiums and accretion of discounts.

C. Payment-In-Kind Securities. The Funds may invest in payment-in-kind securities (“PIKs”). PIKs give the issuer the option at each interest payment date of making interest payments in either cash or additional debt securities. Those additional debt securities usually have the same terms, including maturity dates and interest rates, and associated risks as the original bonds. The daily market quotations of the original bonds may include the accrued interest (referred to as a dirty price) and require a pro-rata adjustment from the unrealized appreciation or depreciation on investments to interest receivable on the Statement of Assets and Liabilities.

For the six months ended April 30, 2014, there were no in-kind payments received by the Strategic Opportunities Fund with respect to PIK securities.

D. Foreign Currency Transactions. The books and records of the Funds are maintained in U.S. dollars. Investments and other assets and liabilities of the Funds denominated in a foreign currency, if any, are translated into U.S. dollars at current exchange rates as of the date of the Statements of Assets and Liabilities. Purchases and sales of securities, income receipts and expense payments are translated into U.S. dollars at the exchange rate on the dates of the transactions.

The Funds do not isolate the portion of operations resulting from changes in foreign exchange rates on investments from fluctuations arising from changes in market prices of securities held. Such fluctuations are included with the net realized and unrealized gain/(loss) on investments, securities sold short, futures contracts, swap agreements, written options and foreign currency transactions in the Statements of Operations.

Foreign security and currency transactions may involve certain risks not typically associated with those of U.S. companies, including the level of governmental supervision and regulation of foreign securities markets and the possibility of political and economic instability.

E. Securities Sold Short. The Funds may sell securities short. A short sale is a transaction in which a Fund sells securities it does not own, but has borrowed, in anticipation of a decline in the market price of the securities. A Fund is obligated to replace the borrowed securities at their market price at the time of settlement. A Fund’s obligation to replace the securities borrowed in connection with a short sale will be fully secured by collateral deposited with the broker. Short sales by a Fund involve certain risks and special considerations.

The Funds may not always be able to close out a short position on favorable terms. Short sales involve the risk that a Fund will incur a loss by subsequently buying a security at a higher price than the price at which it sold the security short. The amount of such loss is theoretically unlimited (since it is limited only by the increase in value of the security sold short by a Fund). In contrast, the risk of loss from a long position is limited to a Fund’s investment in the long position, since its value cannot fall below zero. Short selling is a form of leverage which may lead to higher volatility of a Fund’s NAV or greater losses for a Fund. To mitigate leverage risk, a Fund will always hold liquid assets (including its long positions) at least equal to its short position exposure, marked-to-market daily.

F. Collectibles. The Real Return Fund may invest in collectibles, which are rare objects collected by investors. They can include stamps, coins, books, oriental rugs, antiques, sports and other memorabilia, photographs, art and wine. Collectibles are generally expected to rise in value during inflationary periods when investors are trying to move to assets viewed as an inflation hedge. Generally, collectibles can be expected to drop in value during periods of low inflation. Collectible trading for profit is subject to certain risks and other considerations, including that collectibles: (i) have limited buying and selling markets; (ii) are often bought and sold at auction and subject to buyer and/or seller premiums; (iii) experience periods of high and low demand; (iv) must be insured, physically held and properly maintained; (v) may need to have their authenticity and provenance verified from time to time; and (vi) may not have representative market valuations available. The Real Return Fund does not currently intend to invest more than 5% of its total assets in collectibles. As of April 30, 2014, the Real Return Fund held $28,502,422 or 2.90% of net assets, in collectibles.

G. Commodities. The Real Return Fund and its Subsidiary may invest in commodities. In order to gain exposure to the commodities markets, the Real Return Fund, through its Subsidiary, may invest directly in physical commodities in addition to indirect investments in commodities-linked or related instruments. Commodities are assets that have tangible properties, such as oil, agriculture products and precious metals. The value of commodities may be affected by, among other things, changes in overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, tariffs and international economic, political and regulatory developments. These factors may have a larger impact on commodity prices and commodity-linked instruments than on traditional securities. Certain commodities are also subject to limited pricing flexibility because of supply and demand factors. Others are subject to broad price fluctuations as a result of the volatility of the prices for certain raw materials and the instability of supplies of other materials. These additional variables may create additional risks which subject the Fund’s investments to greater volatility than investments in traditional securities.

H. Inflation-Protected Securities. The Funds may invest in inflation-protected securities, which unlike traditional debt securities that make fixed or variable principal and interest payments, are structured to provide protection against the negative effects of inflation. The value of the debt securities’ principal is adjusted to track changes in an official inflation measure. For example, the U.S. Treasury currently uses the Consumer Price Index for Urban Consumers as a measure of inflation for Treasury Inflation-Protected Securities (“TIPS”). Other inflation-protected securities may not carry a similar guarantee by their issuer. A Fund may buy TIPS that are designed to provide an investment vehicle that is not vulnerable to inflation. The interest rate paid by TIPS is fixed. The principal value rises or falls semi-annually based on the changes in the published Consumer Price Index. If inflation occurs, the principal and interest payments on TIPS are adjusted to protect investors from inflationary loss. If deflation occurs, the principal and interest payments will be adjusted downward, although the principal will not fall below its face amount at maturity.

I. When-Issued and Delayed Delivery Securities. The Funds may purchase or sell securities that they are entitled to receive on a when-issued basis. The Funds may also purchase or sell securities on a delayed delivery basis. When-issued and delayed delivery securities involve risk that the security a Fund buys will lose value prior to its delivery. There is also a risk that the security will not be issued or that the other party to the transaction will not meet its obligation. If this occurs, a Fund loses both the investment opportunity for the assets it set aside to pay for the security and any gain in the security’s price.

J. Loan Participations and Assignments. The Strategic Opportunities Fund, Real Return Fund and Fixed Income Fund may invest in fixed or floating rate loans to U.S. companies, foreign entities, and U.S. subsidiaries of foreign entities made by one or more financial institutions. The rate of interest on a fixed-rate loan is generally a set amount. The rate of interest payable on floating rate loans is the sum of a base lending rate plus a specified spread. Base lending rates are generally the London InterBank Offered Rate, the Certificate of Deposit Rate of a designated U.S. bank, the prime rate of a designated U.S. bank, the Federal Funds rate, or another base lending rate used by commercial lenders. The applicable spread may be fixed at time of issuance or may adjust upward or downward to reflect changes in credit quality of the borrower. A Fund may invest in loans that are investment grade, below investment grade (“junk”), or not rated by any nationally recognized statistical ratings organization. Loans that are rated lower than investment grade typically entail default and other risks greater than those associated with higher-rated loans. Generally, the lower the rating category, the riskier the investment. Typically, a Fund’s investments in loans are expected to take the form of loan participations and assignments of portions of loans from third parties.

Currently, the Strategic Opportunities Fund intends to invest in loans that are below investment grade and, to a lesser extent, unrated loans. The Strategic Opportunities Fund’s investments in loans are expected in most instances to be in the form of assignments. Generally, when a Fund purchases an assignment of a loan from a lender, it will step into the position of the

lender and acquire direct rights against the borrower on the loan. Because assignments are arranged through private negotiations between potential assignees and potential assignors, however, the rights and obligations acquired by a Fund as the purchaser of an assignment may differ from, and be more limited than, those held by the assigning lender. The assignability of certain obligations may be restricted by the governing documentation as to the nature of the assignee such that the only way in which a Fund may acquire an interest in a loan is by purchasing a participation of interest and not an assignment. A Fund may have difficulty disposing of assignments and participation interests given these limitations and other factors.

K. Credit Enhancements. Certain obligations held by the Funds have credit enhancement or liquidity features that may, under certain circumstances, provide for repayment of principal and interest on the obligation upon demand date, interest rate reset date or final maturity. These enhancements may include: letters of credit; liquidity guarantees; and third party insurance (i.e., AMBAC and FGIC). The value of the obligations may be affected by changes in credit worthiness of the entities that provide any supporting letters of credit or other credit enhancements. The value of the obligations also will be affected by the exhaustion, termination or expiration of any credit enhancement.

L. Restricted and Illiquid Securities. The Funds may purchase securities which are subject to legal or contractual delays, restrictions, and costs on resale. Because of time limitations, the Funds might not be able to dispose of these securities at reasonable prices or at times advantageous to the Funds. Each Fund intends to limit the purchase of securities which have not been determined by BIM to be liquid, together with other securities considered to be illiquid, including repurchase agreements providing for settlement in more than seven days after notice, to not more than 15% of its net assets.

M. Distributions to Shareholders. Distributions from net investment income, if any, generally are declared and paid quarterly for the Fixed Income Fund and Municipal Bond Fund and at least annually for the Large Cap Core Fund, Large Cap Strategies Fund, Small & Mid Cap Fund, Strategic Opportunities Fund and Real Return Fund. Distributable net realized capital gains, if any, are declared and distributed at least annually. The amount and timing of dividends and distributions are determined in accordance with federal income tax regulations, which may differ from U.S. GAAP.

N. Expenses. Expenses that are directly related to one of the Funds are charged directly to that Fund on an accrual basis. Other operating expenses of the Corporation are prorated to each Fund on an accrual basis utilizing relative net assets or another reasonable basis.

In the normal course of business, the Funds invest in securities and enter into transactions where risks exist due to fluctuations in the market (market risk) or failure of the issuer of a security to meet all its obligations (credit risk). The value of securities held by a Fund may decline in response to certain events, including those directly involving the issuers whose securities are owned by the Fund; changes or perceived changes in economic conditions; overall market changes; local, regional or global political, social or economic events or instability; and currency and interest rate and price fluctuations. Since 2008, the U.S. government has implemented various measures designed to stabilize the U.S. economy and support U.S. economic recovery, including by keeping the federal funds rate at or near zero percent and purchasing large quantities of securities issued or guaranteed by the U.S. government or its agencies and instrumentalities on the open market (“quantitative easing”). To the extent that the Board of Governors of the Federal Reserve System further reduces quantitative easing and/or raises the federal funds rate, there is a risk that interest rates across the U.S. financial markets will rise suddenly and significantly, thereby exposing fixed income and related markets to heightened volatility and reduced liquidity. Such market events may cause a Fund to experience losses and/or high redemption requests, which may result in increased transactions costs and lower a Fund’s performance. Similar to credit risk, a Fund may be exposed to counterparty risk, or the risk that an entity with which the Fund has unsettled or open transactions may default. Financial assets, which potentially expose a Fund to credit and counterparty risks, consist principally of investments and cash due from counterparties. The extent of a Fund’s exposure to credit and counterparty risks with respect to these financial assets is generally represented by their value recorded in the Fund’s Statements of Assets and Liabilities.

The inputs and valuation techniques used to measure fair value of the Funds’ investments are summarized into three levels as described in the hierarchy below:

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

• Level 3 - significant unobservable inputs (including the Funds’ own assumptions in determining the fair value 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 summary of inputs used to value the Funds’ investments as of April 30, 2014 is as follows:

* Other financial instruments are exchange traded options and futures (Level 1), over-the-counter options (Level 2), forwards (Level 2) and swaps (Level 2). Futures, forwards and swaps are valued at the unrealized appreciation/(depreciation) on the instrument and options are shown at market value.

The Funds’ policy is to recognize transfers in and transfers out as of the beginning of the period of the event.

In June 2013, FASB issued Accounting Standards update No. 2013-8 “Investment Companies: Amendments to the scope measurement, and disclosure requirements” that creates a two-tiered approach to assess whether an entity is an investment company. The guidance will also require an investment company to measure noncontrolling ownership interest in other investment companies at fair value and will require additional disclosures relating to investment company status, any changes thereto and information about financial support provided or contractually required to be provided to any of the investment company’s investees. The guidance is effective for financial statements with fiscal years beginning on or after December 15, 2013 and interim periods within those fiscal years. Management is evaluating the impact of this guidance on the Funds’ financial statement disclosures.

The Funds engage in various portfolio investment strategies utilizing derivatives both to increase the return of the Funds and/or to economically hedge, or protect, their exposure to, for example, interest rate movements, movements in the securities or commodities markets and currency value fluctuations. Derivatives are subject to a number of risks, including changes in the market price of the underlying securities, credit risk with respect to the counterparty to the derivative instruments and the risk of loss due to changes in interest rates. The use of certain derivatives may also have a leveraging effect, which may increase the Fund’s sensitivity to adverse market movements and may exaggerate a loss. Losses may arise if the value of the contract decreases due to, among other potentially adverse events, an unfavorable change in the price of the underlying security or commodity or if the counterparty does not perform under the contract. The use of derivatives can lead to losses because of relatively small adverse movements in the price or value of the underlying security, asset, index or reference rate, which may be magnified by or potentially unlimited as a result of certain features of the derivatives.

The primary difference in risks associated with over-the-counter contracts and exchange-traded contracts is credit and liquidity risks. Over-the-counter contracts, as bilateral arrangements, contain credit risk from various counterparties for any unrealized gains for the duration of the contract. The credit risk related to exchange-traded contracts is minimal because the exchanges ensure that their contracts are always honored. The Funds may mitigate counterparty risk on derivatives through master netting agreements included within an International Swaps and Derivatives Association, Inc. (“ISDA”) Master Agreement between

a Fund and each of its counterparties. The ISDA Master Agreement allows each Fund to offset with its counterparty certain derivative financial instruments’ payables and/or receivables with collateral held with each counterparty. The amount of collateral moved to/from applicable counterparties is based upon minimum transfer amounts of up to $1,000,000. Typically, the Funds and counterparties are not permitted to sell, re-pledge or use collateral they receive. To the extent amounts due to the Funds from their counterparties are not fully collateralized contractually or otherwise, the Funds bear the risk of loss from counterparty non-performance.

The Funds’ maximum risk of loss from counterparty credit risk on over-the-counter derivatives is generally the aggregate net unrealized gain in excess of any collateral pledged by the counterparty to the Funds. For over-the-counter purchased options, the Funds bear the risk of loss in the amount of the premiums paid and positive change in market value of the options should the counterparty not perform under the contracts. Written options by the Funds do not give rise to counterparty credit risk, as written options obligate the Funds to perform and not the counterparty. Certain ISDA Master Agreements allow counterparties to over-the-counter derivatives to terminate or require full collateralization of derivative contracts prior to maturity in the event a Fund’s net assets decline by a stated percentage or a Fund fails to meet the terms of its ISDA Master Agreements, which would cause the Funds to post additional collateral or accelerate payment of any net liability owed to the counterparty. As of April 30, 2014, the Large Cap Strategies Fund and Strategic Opportunities Fund had over-the-counter derivatives with contingent features in net liability positions in the amounts of $442,617 and $2,025,699, respectively. There were no trigger events during the six months ended April 30, 2014.

Cash collateral that has been pledged to cover obligations of a Fund and cash collateral received from the counterparty, if any, is reported separately on the Statement of Assets and Liabilities as due from brokers for collateral and payable to brokers for collateral, respectively. Non-cash collateral pledged by the Fund, if any, is noted in the Schedule of Investments.

When counterparties post cash collateral with respect to various derivative transactions, a Fund invests the collateral and receives interest income on the investment and pays interest expense on the collateral to the counterparty. The interest income is included in investment income on the Statements of Operations, and the interest expense is included in a Fund’s overall expenses and expense ratio in the Financial Highlights.

As of April 30, 2014, the Funds had transactions subject to enforceable master netting arrangements (“MNA”). For reporting purposes, the Funds do not offset derivative assets and derivative liabilities that are subject to netting arrangements in the Statement of Assets and Liabilities. A reconciliation of the gross amounts on the Statement of Assets and Liabilities to the net amounts by counterparty, including any collateral exposure, is included in the following tables:

The Funds are subject to, among other risks, interest rate risk, equity price risk, commodity risk and foreign currency exchange risk in the normal course of pursuing their investment objectives by investing in various derivative financial instruments, as described below.

For open derivative instruments, please see the respective Fund’s Portfolio of Investments or details below:

For the six months ended April 30, 2014, the quarterly average volume of derivative activities were as follows:

A. Futures Contracts. The Funds purchased or sold futures contracts and options on futures contracts to gain exposure to, or hedge against, changes in the value of equity securities (equity risk), interest rates (interest rate risk) or commodity risk.

Futures contracts are agreements pursuant to which two parties agree to take or make delivery of an amount of cash equal to the difference between the value of the contract at the close of the last trading day and the price at which the contract was originally written. Upon entering into a futures contract, the Funds are required to pledge to the broker an amount of cash, U.S. government securities, or other assets, equal to a certain percentage of the contract amount. This is known as the initial margin deposit. Subsequent payments, known as variation margin, are made or received by the Funds each day, depending on the daily fluctuations in fair value of the underlying instrument. The Funds recognize an unrealized gain or loss equal to the variation margin. These futures contracts permit the Funds to meet their objectives at a lower cost than investing directly in the underlying instruments or commodities, while permitting the equivalent of an investment in a portfolio of the underlying instruments or commodities. A potential risk to the Funds is that the change in value of the underlying securities or commodities may not correlate to the change in value of the contracts. Listed futures contracts involve minimal counterparty risk since futures contracts are guaranteed against default by the exchange on which they trade.

B. Forward Foreign Currency Exchange Contracts. The Funds (except Municipal Bond Fund) may enter into forward foreign currency contracts (“Forward”) to hedge their exposure to changes in foreign currency exchange rates on foreign portfolio holdings (foreign currency exchange risk). In addition, certain Funds may use a Forward to provide exposure to the foreign currency market. A Forward is an agreement between two parties to purchase or sell a foreign currency at a future date at a negotiated forward rate. A Forward is marked-to-market daily and the change in market value is recorded by the Funds as unrealized appreciation or depreciation until the contract settlement date. The market value of the Forward is determined using the forward rate for the remainder of the outstanding period of the contract, through the delivery date. When a Forward is closed or settled, the Funds record a realized gain or loss equal to the fluctuation in rates during the period a Forward was

open. Risks may arise upon entering into these contracts from, for example, the potential inability of the counterparties to meet the terms of their contracts, or if the foreign currency rates change unfavorably.

In the event of default by the counterparty to the transaction, the Funds’ maximum amount of loss, as either the buyer or seller, is the unrealized gain of the contract.

The Funds may be required to pledge to the broker an amount of cash, U.S. government securities or other assets, equal to a certain percentage of the contract amount.

As of April 30, 2014, the Large Cap Strategies Fund had the following open Forwards:

As of April 30, 2014, the Strategic Opportunities Fund had the following open Forwards:

C. Swap Agreements. The Funds entered into swap agreements, which are agreements involving two parties to exchange the return generated by a security, currency, commodity, interest rate, index, or other measures for the return generated by another instrument, for example, the agreement to pay interest in exchange for a market-linked return based on a notional amount. The Funds entered into total return, interest rate and other swap agreements. Interest rate swap agreements generally involve the agreement by the Funds to pay a counterparty a fixed or floating rate on a fixed notional amount and to receive a fixed or floating rate on a fixed notional amount, but may also involve the agreement to pay or receive payments derived from changes in interest rates. Periodic payments are generally made during the life of the swap agreement according to the terms and conditions of the agreement and at termination or maturity. Total return swap agreements involve the commitments to pay or receive an amount generally determined by reference to a security, index or other measure in exchange for a specific market linked return, based on notional amounts. To the extent that the total return of the security, index or other measure underlying the transaction exceeds or falls short of the offsetting interest rate-based obligation, the Funds receive or make a payment to the counterparty. Payments received or made by a Fund at the expiration or other termination of the swap agreements are recorded in the Statements of Operations as realized gains or losses, respectively. Swap agreements are marked-to-market daily based on dealer-supplied valuations, and changes in value, including the periodic amounts of interest to be paid or received on swaps, are recorded as unrealized appreciation/(depreciation). Risks may exceed amounts recognized on the Statements of Assets and Liabilities. These risks include changes in the returns of the underlying instruments, failure of the counterparties to perform under the contracts’ terms and the possible lack of liquidity with respect to the swap agreements. Details of swap agreements open at period end are included in the Portfolios of Investments under the caption “Swap Agreements”.

D. Options. The Funds purchased and wrote (sold) put and call options on equity securities and stock index futures in order to gain exposure to or to protect against changes in the market.

Options on swaps (swaptions) are similar to options on securities except that instead of selling or purchasing the right to buy or sell a security, the writer or purchaser of the swaption is granting or buying the right to enter into a previously agreed upon swap agreement at any time before the expiration of the option.

A call option gives the purchaser of the option the right (but not the obligation) to buy, and obligates the seller to sell (when the option is exercised), the underlying instrument at the exercise price at any time or at a specified time during the option period. A put option gives the holder the right to sell and obligates the writer to buy the underlying instrument at the exercise price at any time or at a specified time during the option period. When a Fund purchases (writes) an option, an amount equal to the premium paid (received) by a Fund is reflected as an asset (liability). The amount of the asset (liability) is subsequently marked-to-market to reflect the current market value of the option purchased (written). When an instrument is purchased or sold through an exercise of an option, the related premium paid (or received) is added to (or deducted from) the basis of the instrument acquired or deducted from (or added to) the proceeds of the instrument sold. When an option expires (or a Fund enters into a closing transaction), a Fund realizes a gain or loss on the option to the extent of the premiums received or paid (or gain or loss to the extent the cost of the closing transaction exceeds the premium received or paid). When a Fund writes a call option, such option is “covered,” meaning that a Fund holds the underlying instrument subject to being called by the option counterparty, or cash in an amount sufficient to cover the obligation. When a Fund writes a put option, such option is covered by cash in an amount sufficient to cover the obligation.

In purchasing and writing options, a Fund bears certain risks, including the market risk of an unfavorable change in the price of the underlying instrument or the risk that a Fund may not be able to enter into a closing transaction due to an illiquid market. Exercise of a written option could result in a Fund purchasing or selling a security at a price different from the current market value.

A Fund may execute transactions in both listed and over-the-counter options. Listed options involve minimal counterparty risk since listed options are guaranteed against default by the exchange on which they trade. Transactions in certain over-the-counter options may expose a Fund to the risk of default by the counterparty to the transaction. In the event of default by the counterparty to the over-the-counter option transaction, a Fund’s maximum amount of loss is the premium paid and unrealized gain (as purchaser) or the unrealized gain of the contract less the premium received (as writer).

A summary of the Strategic Opportunities Fund’s written option transactions for the six month period is as follows:

A summary of the Real Return Fund’s written option transactions for the six month period is as follows:

The Strategic Opportunities Fund invests in structured options to increase or decrease its exposure to an underlying index or group of securities (equity risk). These structured options may consist of single or multiple OTC options which are priced as a single security. Structured options may only be exercised at the expiration date, but may be transferred/sold prior to the expiration date. The value of a structured option may either increase or decrease with the underlying index or group of securities, depending on the combination of options used. Structured options are issued in units whereby each unit represents a structure based on a specific index with an initial reference strike price. Generally, the basis of the contracts is the premium received or paid which is recorded as an asset on the Statement of Assets and Liabilities. The amount of the asset is subsequently market-to-market to reflect the current market value of the structured option. When a structured option is transferred/

sold or exercised, the Fund will record a realized gain or loss equal to the difference between the proceeds from (or cost of) the closing transaction and the Fund’s basis in the contract, if any. One type of structure involves the combination of selling a put while buying a call on a specific index. This option would rise in value as the underlying index increases and fall in value as the underlying index decreases. Alternatively, another structure involves the sale of a call and the purchase of a put. This option structure would rise in value as the underlying index decreases and fall in value as the underlying index increases. Upon the exercise of the structured option, the Fund will receive a payment from, or be required to remit a payment to the counterparty, depending on the value of the underlying index at exercise.

A. Investment Advisory Fees. The Funds’ investment adviser is BIM, a wholly-owned subsidiary of Bessemer Trust Company, N.A. (“Bessemer”). Bessemer is a subsidiary of The Bessemer Group, Incorporated (“BGI”). The investment advisory fee paid to BIM for advisory services is computed daily and paid monthly in accordance with the following schedule:

BIM has retained Oldfield Partners LLP (“Oldfield”) and Sands Capital Management, LLC (“Sands”) as sub-advisers to each manage a segment of the Large Cap Strategies Fund. Oldfield and Sands are paid for their services directly by BIM.

BIM has retained Dimensional Fund Advisors LP (“Dimensional”), Champlain Investment Partners, LLC (“Champlain”) and Mondrian Investment Partners Limited (“Mondrian”) as sub-advisers to each manage segments of the Small & Mid Cap Fund. Dimensional, Champlain and Mondrian are paid for their services directly by BIM.

BIM has retained Franklin Advisers, Inc. (“Franklin”), Shenkman Capital Management, Inc. (“Shenkman”), BlackRock Financial Management, Inc. (“BlackRock”) and Muzinich & Co., Inc. (“Muzinich”) as sub-advisers to each manage a segment of the Strategic Opportunities Fund. Franklin, Shenkman, BlackRock and Muzinich are paid for their services directly by BIM. Effective on April 15, 2014, Shenkman no longer acts as a sub-adviser for a portion of the Fund’s portfolio. On the Effective Date, Bessemer Investment Management LLC, the Fund’s investment adviser, assumed day-to-day investment management responsibility for the portion of the Fund assets managed by Shenkman.

B. Administration, Fund Accounting, Transfer Agent and Underwriting Fees. The Corporation, on behalf of each Fund, has entered into an administrative oversight, supervision and coordination services agreement (the “Administrative Agreement”) with Bessemer, pursuant to which Bessemer and Bessemer Trust Company (“BTCO”), an affiliate of BIM, provide certain non-advisory services to the Funds, such as the maintenance of records, the provision of supervisory personnel and the monitoring of the other non-advisory service providers. Under the Administrative Agreement, each Fund pays an annual fee of 0.03% of its average daily net assets for such services. BNY Mellon Investment Servicing (US) Inc. (“BNY Mellon”) acts as administrator, fund accounting agent and transfer agent for the Funds pursuant to an Administration and Accounting Services Agreement and a Transfer Agency Services Agreement, respectively. Certain officers of the Funds are also employees of BNY Mellon.

The Corporation entered into an Underwriting Agreement with Foreside Funds Distributors LLC for the limited purpose of acting as statutory underwriter to facilitate the registration and distribution of shares of the Funds.

C. Distribution and Shareholder Servicing Fees. The Funds have adopted a shareholder servicing plan (the “Shareholder Servicing Plan”) with Bessemer, pursuant to which Bessemer serves as a shareholder servicing agent and provides certain

shareholder support services. Bessemer may engage shareholder sub-servicing agents, such as broker/dealers, banks, trust companies, investment advisers, and other financial institutions and intermediaries to provide certain shareholder support services and is solely responsible for paying each such shareholder sub-servicing agent from the fee it receives from each of the Funds. Each Fund pays for shareholder support services an annual fee of 0.20% of its average daily net assets; however, with respect to the Fixed Income Fund and the Municipal Bond Fund, Bessemer has contractually committed to waive its shareholder servicing fee to the extent necessary to maintain a maximum shareholder servicing fee at 0.10% through October 31, 2015. The shareholder servicing fee commitment arrangements may be changed or terminated at any time with the approval of the Board. For the six months ended April 30, 2014, Bessemer waived shareholder servicing fees in the amount of $265,865 with respect to the Fixed Income Fund and $624,640 with respect to the Municipal Bond Fund.

D. Custody Fees. The Large Cap Core Fund, Large Cap Strategies Fund, Fixed Income Fund and Municipal Bond Fund have each retained BTCO, a wholly-owned subsidiary of BGI, to serve as their custodian and the Real Return Fund, the Subsidiary and the Small & Mid Cap Fund have retained BTCO to serve as their co-custodian. Pursuant to the Funds’ Custody Agreements, BTCO is responsible for maintaining the custody of these Funds’ securities and cash, except for the Real Return Fund and the Subsidiary for which BTCO is only responsible for the collectible coins or bullions or other forms of precious metals held by the Real Return Fund and the Subsidiary. BTCO serves as custodian for the Small & Mid Cap Fund only with respect to equity securities of U.S. companies (other than exchange-traded funds) and securities in the form of depositary receipts directly managed by BIM, income, other payments and distributions issued with respect to such securities, proceeds of the sale of such securities, and cash, cash equivalents and money market instruments received and held by BTCO from time to time on behalf of the Small & Mid Cap Fund. For providing these services, BTCO receives a fee calculated and paid monthly at the annual rate of 0.075% of the average daily net assets of the non-U.S. investments and 0.015% of the average daily net assets of the U.S. investments of Large Cap Strategies Fund and 0.015% of the average daily net assets of each of the Large Cap Core Fund, Fixed Income Fund and Municipal Bond Fund or portion thereof for the Small & Mid Cap Fund. BTCO receives a fee of 0.10% of the average daily net assets of the portion of the Real Return Fund for which BTCO serves as custodian. In addition, BTCO receives from the Real Return Fund and the Subsidiary any transaction costs, such as charges for moving them to auctions and shipping/ vault charges, related to the Real Return Fund’s and the Subsidiary’s investments in collectible coins or bullions or other forms of precious metals. The Strategic Opportunities Fund has retained Citibank, N.A. (“Citibank”) to serve as its custodian and the Small & Mid Cap Fund, Real Return Fund and the Subsidiary have retained Citibank to serve as their co-custodian. Citibank is responsible for maintaining the custody of these Funds’ securities and cash, excluding collectible coins or bullions or other forms of precious metals held by the Real Return Fund and the Subsidiary, and assets of the Small & Mid Cap Fund managed by the sub-advisers. For providing these services, Citibank receives a fee from each Fund calculated daily and paid monthly based on safekeeping and transaction fees that vary by country.

E. Fee Waivers. BIM may voluntarily waive a portion of its advisory fee to limit the Funds’ total expenses. BIM may terminate this voluntary waiver at any time. BIM, however, does not have the ability to recapture fees currently being waived at a later date. BIM has contractually committed through October 31, 2015 to waive its advisory fees to the extent necessary to maintain the net operating expense ratios, excluding fund transaction costs, investment interest expense, dividend expenses associated with securities sold short and acquired fund fees and expenses, if any, of the Large Cap Core Fund at 1.00%, the Large Cap Strategies Fund at 1.15% the Small & Mid Cap Fund at 1.11%, the Strategic Opportunities Fund at 1.20%, the Real Return Fund at 1.10%, the Fixed Income Fund at 0.70% and the Municipal Bond Fund at 0.70%. Any waiver amounts are disclosed in the Statements of Operations. For the six months ended April 30, 2014, BIM waived $32,251 for the Large Cap Core Fund, $0 for the Large Cap Strategies Fund, $1,327,590 for the Small & Mid Cap Fund, $3,457,563 for the Strategic Opportunities Fund and $354,710 for the Real Return Fund. The Fixed Income Fund and Municipal Bond Fund had shareholder servicing fee waivers of $265,865, and $624,640, respectively. The contractual advisory fee waivers and the shareholder servicing fee waivers may be changed or terminated at any time with the approval of the Board.

F. Board of Directors’ Fees. Each Director who is not an “interested person” of the Corporation (as that term is defined under the 1940 Act) (each, an “Independent Director”) receives from the Funds a total annual retainer of $120,000 (effective 3/1/14, $95,000 prior to that date) (plus $50,000 for serving as the Board’s Chairperson, $10,000 as the Board’s Vice Chairperson, $20,000 as the Audit Committee Chairperson, $10,000 as the Pricing Committee Liaison, $10,000 as the Risk Management Liaison and $10,000 each as the Nominating Committee Chairperson and the Governance Committee Chairperson) and receives for attendance at Board and committee meetings the following:

Each Independent Director is reimbursed for all out-of-pocket expenses relating to attendance at meetings of the Board and any Board committee. Directors who are not Independent Directors, officers or employees of BIM and BNY Mellon do not receive compensation from the Funds. Fees paid are allocated to the Funds on a pro rata basis based on net assets.

G. Interest Expense. When cash balances are overdrawn, the Funds are charged by BTCO an overdraft fee equal to 2.25% above the federal funds rate on outstanding balances. Citibank, N.A. charges 2.00% above the London InterBank Offered Rate for any overdrawn cash balances. These amounts, if any, are included in “interest expense” in the Statements of Operations when such expenses are incurred.

Investment transactions for the six months ended April 30, 2014, excluding short-term investments and U.S. Government securities, were as follows:

Purchase and sales of U.S. Government Securities, excluding those with maturity of one year or less during the six months ended April 30, 2014, were as follows:

It is the policy of each Fund to qualify as a regulated investment company by complying with the provisions available to certain investment companies as defined in Subchapter M of the Internal Revenue Code of 1986, as amended (the “Code”), and to make distributions from net investment income and net realized capital gains sufficient to relieve it from all, or substantially all, federal income taxes. Federal income tax regulations differ from accounting principles generally accepted in the U.S.; therefore, distributions determined in accordance with tax regulations may differ in amount or character from net investment income and realized gains for financial reporting purposes.

By investing in the Subsidiary, the Real Return Fund will gain exposure to commodities and commodity-linked instruments within the limits of Subchapter M of the Code. Subchapter M requires, among other things, that a fund derive at least 90% of gross income from dividends, interest, and gains from the sale of securities (typically referred to as “qualifying income”). The IRS has issued a private letter ruling to the Real Return Fund confirming that Subpart F income derived from its investment in the Subsidiary, which invests in commodities and commodity-linked instruments, will constitute “qualifying income” under Subchapter M of the Code. Based on such ruling, the Real Return Fund will seek to get exposure to commodities and commodity-linked instruments through investments in the Subsidiary.

The Funds may be subject to taxes imposed by other countries in which they invest. Such taxes are generally based on income earned as well as realized capital gains and in certain situations, unrealized gains. These taxes are accrued and applied to net investment income, net realized gains and as applicable, as such income and/or gains are earned.

The Funds may also be subject to capital gains tax in India on gains realized upon the sale of India securities. The Funds may accrue a deferred tax liability for unrealized gains on India and Thailand securities based on existing tax rates and holding periods of the securities. As of April 30, 2014, the Large Cap Strategies Fund, the Small & Mid Cap Fund and the Strategic Opportunities Fund recorded liabilities of $926,255, $325,852 and $168,090, respectively, in the Statements of Assets and Liabilities as an estimate for potential future India and Thailand capital gain taxes.

The tax character of distributions from the Funds during the year ended October 31, 2013 was as follows (amounts in thousands):

The difference in classification between the amounts reflected above and the Statements of Changes in Net Assets is primarily due to short-term capital gain distributions.

As of and during the period ended April 30, 2014, the Funds did not have any liabilities for any uncertain tax positions. The Funds recognize interest and penalties, if any, related to unrecognized tax positions as income tax expense in the Statements of Operations. During the period, the Funds did not incur any interest or penalties. The statute of limitation on each Fund’s U.S. federal income tax returns remains open for each of the four years ended October 31, 2013. The statutes of limitations on each Fund’s state and local tax returns may remain open for an additional year depending upon the jurisdiction.

At October 31, 2013, the following Funds had capital loss carryforwards for federal income tax purposes, which will expire on the following date:

*As of October 31, 2013, the Real Return Fund had a short-term and long-term capital loss carryforward of $61,837,171 and $104,391,549, respectively, available to offset future realized capital gains in accordance with the Regulated Investment Company Modernization Act of 2010. These capital loss carryforwards are not subject to expiration and must first be utilized to offset future realized gains of the same character and must be utilized prior to the utilization of the loss carryforwards subject to expiration that are described above.

The Strategic Opportunities Fund may invest in floating rate loan interests. In connection with these investments, the Strategic Opportunities Fund may also enter into bridge loan commitments (“commitments”). Bridge loan commitments may obligate the Strategic Opportunities Fund to furnish temporary financing to a borrower until permanent financing can be arranged. As of April 30, 2014, the Strategic Opportunities Fund had no outstanding bridge loan commitments. In connection with these commitments, the Strategic Opportunities Fund earns a commitment fee, typically set as a percentage of the commitment amount. Such fee income, which is included in interest income in the Statements of Operations, is recognized ratably over the commitment period.

Management has evaluated the impact of all subsequent events on the Funds and has determined that there were no subsequent events requiring recognition or disclosure in the financial statements.

The Funds’ proxy voting guidelines, used to determine how to vote proxies relating to portfolio securities and information regarding how the Funds voted proxies relating to portfolio securities during the most recent 12-month period ended June 30 is available (i) without charge, upon request, by calling (800) 607-2200; and (ii) on the U.S. Securities and Exchange Commission’s (“SEC”) website at http://www.sec.gov.

The Funds provide a complete list of the Funds’ holdings four times in each fiscal year, at the quarter-ends. For the second and fourth quarters, the Schedule of Investments appear in the Funds’ semi-annual and annual reports to shareholders. For the first and third quarters, the Funds file the Schedule of Investments with the SEC on Form N-Q. Shareholders can obtain the Funds’ Form N-Q (i) without charge, upon request, by calling (800) 607-2200; and (ii) on the SEC’s website at http://www.sec.gov. The Fund’s N-Q may be reviewed or copied at the SEC Public Reference Room in Washington D.C. Information on the operation of the Public Reference Room may be obtained by calling (800) SEC-0330.

A Special Meeting of Shareholders of Old Westbury Funds, Inc. (the “Corporation”) was held on November 21, 2013 (the “Meeting”). The following proposal was submitted for a vote of the Funds’ shareholders at the Meeting:

1. To approve a proposed change to elect five Directors to the Board of Directors of the Corporation, each to hold office for an indefinite term.

Based on the votes received, the proposal was approved by shareholders of the Corporation.

Mutual funds are not bank deposits or obligations, are not guaranteed by any bank, and are not insured or guaranteed by the U.S. government, the Federal Deposit Insurance Corporation, the Federal Reserve Board, or any other government agency. Investment in mutual funds involves investment risks, including possible loss of principal.

This report is authorized for distribution to prospective investors only when preceded or accompanied by the Funds’ prospectus which contains facts concerning the Funds’ objectives and policies, management fees, expenses and other information.

The information in this report is based on data obtained from recognized services and sources and is believed to be reliable. Any opinions, projections, or recommendations in this report are subject to change without notice and are not intended as individual investment advice. Furthermore, Bessemer Investment Management LLC and its affiliates, as agents for their clients, and any of its officers or employees may have a beneficial interest or position in any of the securities mentioned, which may be contrary to any opinion or projection expressed in this report.

Cusip 680414307
Cusip 680414604
Cusip 680414109
Cusip 680414406
Cusip 680414505
Cusip 680414703
Cusip 680414802
(A21-SAR2014)
(04/14)

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	25,514	AJ Lucas Group Ltd.(b)		21,806
	119,863	Alcyone Resources Ltd.(b)(c)(d)		111
	54,720	Alkane Resources Ltd.(b)		15,505
	179,316	ALS Ltd.		1,249,380
	688,597	Alumina Ltd.(b)		863,601
	38,166	Amalgamated Holdings Ltd.		312,014
	102,022	Amcom Telecommunications Ltd.		199,034
	80,617	Ansell Ltd.		1,354,813
	68,098	Antares Energy Ltd.(b)		25,305
	14,818	AP Eagers Ltd.		69,518
	68,359	APA Group		422,945
	80,369	APN News & Media Ltd.(b)		53,010
	36,729	Aquila Resources Ltd.(b)		85,303
	19,603	ARB Corp. Ltd.		222,176
	90,205	Aristocrat Leisure Ltd.		421,515
	973,379	Arrium Ltd.		1,076,077
	455,767	Asciano Ltd.		2,290,627
	74,907	ASG Group Ltd.(b)		25,052
	420,632	Atlas Iron Ltd.		353,643
	100,506	Aurora Oil and Gas Ltd.(b)		380,949
	154,089	Ausdrill Ltd.		133,128
	11,583	Ausenco Ltd.		5,972
	28,194	Austal Ltd.(b)		27,502
	17,417	Austbrokers Holdings Ltd.		164,392
	17,602	Austin Engineering Ltd.		33,686
	215,773	Australian Agricultural Co. Ltd.(b)		256,579
	859	Australian Education Trust REIT		1,381
	256,656	Australian Infrastructure Fund Ltd.		954
	141,784	Australian Pharmaceutical Industries Ltd.		76,396
	89,447	Automotive Holdings Group Ltd.		332,384
	45,405	Aveo Group		85,628
	377,764	AWE Ltd.(b)		549,224
	126,963	Bank of Queensland Ltd.		1,446,045
	28,626	BC Iron Ltd.		116,213
	792,736	Beach Energy Ltd.		1,263,011
	13,385	Bega Cheese Ltd.		64,038
	4,598	Bell Financial Group Ltd.		2,520
	372,904	Bendigo and Adelaide Bank Ltd.		3,987,371
	54,421	Bentham IMF Ltd.		93,783
	382,972	Billabong International Ltd.(b)		168,995

Shares			Value
AUSTRALIA (continued)
	22,861	Bionomics Ltd.(b)	$	9,982
	2,485	Blackmores Ltd.		62,100
	346,723	BlueScope Steel Ltd.(b)		2,084,017
	93,062	Boom Logistics Ltd.(b)		13,833
	481,246	Boral Ltd.		2,543,863
	84,936	Bradken Ltd.		333,769
	14,720	Breville Group Ltd.		125,261
	24,551	Brickworks Ltd.		305,853
	17,980	BT Investment Management Ltd.		111,913
	53,909	Cabcharge Australia Ltd.		194,315
	154,604	Caltex Australia Ltd.		3,198,566
	255,734	Cape Lambert Resources Ltd.(b)		23,758
	75,747	Cardno Ltd.		491,174
	490,458	Carnarvon Petroleum Ltd.(b)		39,640
	68,742	carsales.com Ltd.		692,893
	129,012	Cash Converters International Ltd.		130,638
	9,437	Cedar Woods Properties Ltd.		63,473
	178,666	Challenger Ltd.		1,170,160
	3,659,878	Charter Hall Retail REIT(d)		13,124,061
	84,396	Coal of Africa Ltd.(b)(d)		4,861
	10,618	Cochlear Ltd.		578,923
	293,633	Cockatoo Coal Ltd.(b)		9,547
	119,759	Coffey International Ltd.(b)		25,033
	82,958	Cooper Energy Ltd.(b)		38,534
	19,597	Credit Corp. Group Ltd.		163,850
	136,841	Cromwell Property Group REIT		125,854
	88,635	Crowe Horwath Australasia Ltd.		30,466
	17,217	CSG Ltd.		13,995
	267,735	CSR Ltd. - Placement Shares		907,846
	4,990	Cudeco Ltd.(b)		8,692
	67,759	Dart Energy Ltd.(b)		7,554
	5,580	Data#3 Ltd.		3,007
	118,091	David Jones Ltd.		431,145
	59,446	Decmil Group Ltd.		112,107
	232,983	Deep Yellow Ltd.(b)		5,627
	7,518	Devine Ltd.(b)		4,959
	60,174	Discovery Metals Ltd.(b)(c)		1,453
	13,176	Domino’s Pizza Enterprises Ltd.		242,361
	235,574	Downer EDI Ltd.		1,092,049
	99,001	Drillsearch Energy Ltd.(b)		147,614
	180,836	DUET Group		364,552
	145,014	DuluxGroup Ltd.		771,932
	16,365	DWS Ltd.		16,419
	200,220	Echo Entertainment Group Ltd.		524,531
	224,451	Elders Ltd.(b)		22,937
	399,090	Emeco Holdings Ltd.(b)		96,396
	52,026	Energy Resources of Australia Ltd.(b)		64,040
	131,257	Energy World Corp. Ltd.(b)		34,752
	297,730	Envestra Ltd.		322,228
	5,763	ERM Power Ltd.		9,824
	26,509	Eservglobal Ltd.(b)		19,701
	151,103	Evolution Mining Ltd.		120,020

Shares			Value
AUSTRALIA (continued)
	1,261,615	Fairfax Media Ltd.	$	1,148,596
	3,195	Fantastic Holdings Ltd.		5,550
	1,065,862	FAR Ltd.(b)		45,548
	16,777	Finbar Group Ltd.		25,794
	26,263	Fleetwood Corp. Ltd.		56,360
	25,840	Flight Centre Travel Group Ltd.		1,290,284
	704,466	Focus Minerals Ltd.(b)		7,853
	13,085	Forge Group Ltd.(c)(d)		0
	18,654	G.U.D. Holdings Ltd.		92,713
	2,973	G8 Education Ltd.		12,898
	873,603	Goodman Fielder Ltd.		547,813
	95,093	GrainCorp Ltd. - Class A		782,702
	140,887	Grange Resources Ltd.		34,030
	180,274	Gunns Ltd.(b)(c)(d)		0
	73,089	GWA Group Ltd.		182,650
	241,775	Harvey Norman Holdings Ltd.		736,715
	842,673	Hillgrove Resources Ltd.(b)		53,233
	88,475	Hills Ltd.		138,906
	267,872	Horizon Oil Ltd.(b)		94,564
	123,936	iiNET Ltd.		824,375
	106,875	Iluka Resources Ltd.		882,657
	146,767	Imdex Ltd.		100,214
	896,963	Incitec Pivot Ltd.		2,399,835
	65,287	Independence Group NL		262,621
	72,251	Infigen Energy(b)		12,417
	32,314	International Ferro Metals Ltd.(b)		5,107
	89,852	Intrepid Mines Ltd.(b)		22,955
	788,936	Invocare Ltd.(d)		7,798,260
	119,959	IOOF Holdings Ltd.		945,024
	40,185	Iress Ltd.		309,107
	12,036	Iron Ore Holdings Ltd.(b)		10,511
	35,560	JB Hi-Fi Ltd.		637,578
	7,671	Kagara Ltd.(b)(c)(d)		164
	312,325	Kangaroo Resources Ltd.(b)		3,192
	132,923	Kingsgate Consolidated Ltd.(b)		110,519
	24,777	Kingsrose Mining Ltd.(b)		9,322
	73,973	Linc Energy Ltd.(b)		69,624
	51,812	Lonestar Resources Ltd.(b)		13,718
	2,322	Lycopodium Ltd.		7,032
	392,774	Lynas Corp. Ltd.(b)(c)		60,206
	27,121	M2 Group Ltd.		142,102
	24,540	MACA Ltd.		49,015
	328,362	Macmahon Holdings Ltd.(b)		32,030
	38,335	Macquarie Atlas Roads Group		110,757
	1,285	Macquarie Telecom Group Ltd.		9,550
	19,391	Magellan Financial Group Ltd.		225,177
	14,118	Maverick Drilling & Exploration Ltd.(b)		3,672
	9,278	MaxiTRANS Industries Ltd.		8,274
	8,611	Mayne Pharma Group Ltd.(b)		6,800
	8,072	McMillan Shakespeare Ltd.		72,814
	15,035	McPherson’s Ltd.		16,342
	90,754	Medusa Mining Ltd.(b)		151,758
	27,057	Melbourne IT Ltd.		36,321
	193,955	Mermaid Marine Australia Ltd.		385,593

Shares			Value
AUSTRALIA (continued)
	7,630	Mesoblast Ltd.(b)	$	33,031
	265,208	Metcash Ltd.		684,929
	90,921	Metgasco Ltd.(b)		7,348
	54,693	Mincor Resources NL		40,902
	20,477	Mineral Deposits Ltd.(b)		38,046
	35,519	Mineral Resources Ltd.		383,426
	984,000	MMG Ltd.(b)		228,455
	815,676	Monadelphous Group Ltd.		13,245,655
	59,782	Mortgage Choice Ltd.		147,174
	476,391	Mount Gibson Iron Ltd.		323,073
	319,370	Myer Holdings Ltd.		658,660
	1,050	MyState Ltd.		4,487
	79,446	Navitas Ltd.		542,467
	128,661	New Hope Corp. Ltd.		372,920
	37,178	Newsat Ltd.(b)		13,125
	536,185	Nexus Energy Ltd.(b)(c)(d)		9,962
	122,821	NIB Holdings Ltd.		313,776
	8,474	Nick Scali Ltd.		21,334
	69,743	Noble Mineral Resources Ltd.(b)(c)(d)		0
	102,310	Northern Star Resources Ltd.		111,203
	164,658	NRW Holdings Ltd.		171,323
	105,154	Nufarm Ltd.		405,404
	14,318	Oakton Ltd.		19,287
	191,569	OceanaGold Corp.(b)		485,892
	6,370	Orocobre Ltd.(b)		13,196
	4,066	OrotonGroup Ltd.		15,525
	121,855	Otto Energy Ltd.(b)		9,849
	75,455	OZ Minerals Ltd.		257,959
	494,140	Pacific Brands Ltd.		231,823
	2,389,954	Pact Group Holdings Ltd.(b)(d)		7,504,479
	182,821	Paladin Energy Ltd.(b)		73,880
	338,477	PanAust Ltd.		504,683
	5,565	Patties Foods Ltd.		5,945
	24,629	Peet Ltd.(b)		29,516
	8,389	Perpetual Ltd.		365,508
	251,600	Perseus Mining Ltd.(b)		81,807
	48,159	Platinum Asset Mangement Ltd.		294,386
	67,411	Platinum Australia Ltd.(b)(c)(d)		376
	114,913	PMP Ltd.(b)		45,370
	53,780	Premier Investments Ltd.		495,618
	6,047	Prima Biomed Ltd.(b)		202
	261,581	Primary Health Care Ltd.		1,139,707
	25,653	Prime Media Group Ltd.		23,593
	66,807	Programmed Maintenance Services Ltd.		175,640
	681,644	Qantas Airways Ltd.(b)		772,559
	67,738	Qube Holdings Ltd.		139,701
	92,285	Ramelius Resources Ltd.(b)		9,002
	64,692	RCR Tomlinson Ltd.		164,069
	17,371	REA Group Ltd.		754,756
	30,974	Reckon Ltd.		56,686
	95,161	Red Fork Energy Ltd.(b)		9,282
	8,531	Reece Australia Ltd.		239,740
	31,163	Regional Express Holdings Ltd.(b)		22,292

Shares			Value
AUSTRALIA (continued)
	80,483	Regis Resources Ltd.	$	181,687
	9,792	Reject Shop Ltd. (The)		90,967
	380,526	Resolute Mining Ltd.(b)		213,872
	11,029	Resource Generation Ltd.(b)		1,691
	28,345	Retail Food Group Ltd.		110,070
	101,020	Ridley Corp. Ltd.		79,301
	260,278	Roc Oil Co. Ltd.(b)		116,063
	4,191	Ruralco Holdings Ltd.		13,043
	73,019	SAI Global Ltd.		289,653
	9,571	Salmat Ltd.		16,983
	17,384	Sandfire Resources NL(b)		91,730
	513,401	Saracen Mineral Holdings Ltd.(b)		157,393
	21,212	Sedgman Ltd.		8,868
	43,924	Seek Ltd.		682,264
	199,708	Senex Energy Ltd.(b)		123,376
	16,377	Servcorp Ltd.		70,594
	90,368	Service Stream Ltd.		17,210
	16,430	Service Stream Ltd.(b)(d)		3,129
	56,330	Seven Group Holdings Ltd.		429,109
	329,063	Seven West Media Ltd.		570,128
	5,819,257	Shopping Centres Australasia Property Group, REIT(d)		9,379,535
	217,982	Sigma Pharmaceuticals Ltd.		146,816
	15,184	Silex Systems Ltd.(b)		25,532
	113,340	Silver Lake Resources Ltd.(b)		43,170
	9,054	Sirtex Medical Ltd.		132,391
	36,651	Skilled Group Ltd.		93,293
	14,279	Slater & Gordon Ltd.		62,346
	7,500	SMS Management & Technology Ltd.		26,128
	314,798	Southern Cross Media Group Ltd.		375,794
	564,987	SP AusNet(b)		734,820
	403,253	Spark Infrastructure Group		661,206
	10,795	Specialty Fashion Group Ltd.		9,276
	334,245	St Barbara Ltd.(b)		66,760
	29,533	Starpharma Holdings Ltd.(b)		19,480
	150,289	STW Communications Group Ltd.		196,861
	50,249	Sundance Energy Australia Ltd.(b)		48,548
	63,254	Sunland Group Ltd.		98,134
	65,953	Super Retail Group Ltd.		622,505
	67,322	Swick Mining Services Ltd.		15,948
	275,283	Tabcorp Holdings Ltd.		951,342
	97,054	Tap Oil Ltd.(b)		37,418
	54,903	Tassal Group Ltd.		211,670
	426,227	Tatts Group Ltd.		1,195,810
	27,045	Technology One Ltd.		63,314
	521,073	Ten Network Holdings Ltd.(b)		130,700
	69,352	TFS Corp. Ltd.		109,527
	57,103	Thorn Group Ltd.		113,524
	178,032	Tiger Resources Ltd.(b)		58,714
	370,481	Toll Holdings Ltd.		1,820,690
	188,636	Toro Energy Ltd.(b)		11,916

Shares			Value
AUSTRALIA (continued)
	18,996	Tox Free Solutions Ltd.	$	61,236
	126,484	TPG Telecom Ltd.		697,969
	3,780,227	Transfield Services Ltd.(b)		3,353,788
	846,788	Transpacific Industries Group Ltd.(b)		877,130
	267,850	Treasury Wine Estates Ltd.		948,049
	72,379	Troy Resources Ltd.(b)		65,895
	90,797	UGL Ltd.		569,363
	79,768	Unity Mining Ltd.(b)		1,186
	144,020	UXC Ltd.		113,056
	101,055	Venture Minerals Ltd.(b)		13,143
	65,384	Village Roadshow Ltd.		428,228
	836,798	Virgin Australia Holdings Ltd.(b)		287,632
	521,584	Virgin Australia Holdings Ltd. - CVR Shares(b)(c)(d)		0
	12,385	Vocus Communications Ltd.		51,775
	52,557	Washington H. Soul Pattinson & Co. Ltd.		723,103
	51,135	WDS Ltd.		51,780
	8,040	Webjet Ltd.		20,540
	42,250	Western Areas NL		162,103
	5,683	White Energy Co. Ltd.(b)		898
	169,541	Whitehaven Coal Ltd.(b)		229,954
	984	Wide Bay Australia Ltd.		5,467
	1,550	Windimurra Vanadium Ltd.(b)(c)(d)		0
	81,204	Wollongong Coal Ltd.(b)(c)(d)		6,035
	42,319	Worleyparsons Ltd.		660,872
	31,994	Wotif.com Holdings Ltd.		79,359
	5,124	YTC Resources Ltd.(b)		1,023
				132,837,360
AUSTRIA — 0.2%
	1,158	Agrana Beteiligungs AG		133,986
	401	AMAG Austria Metall AG(e)		13,791
	4,961	AMS AG		746,320
	26,522	Andritz AG		1,646,035
	4,521	A-TEC Industries AG(b)(c)(d)		0
	6,286	Austria Technologie & Systemtechnik AG		73,351
	6,983	BUWOG AG(b)		128,221
	868	CA Immobilien Anlagen AG		16,534
	5,957	CAT Oil AG		124,793
	4,775	Conwert Immobilien Invest SE		68,763
	618	DO & CO AG		36,130
	8,152	EVN AG		113,662
	3,313	Flughafen Wien AG		324,911
	128,837	IMMOFINANZ AG		477,598
	1,245	Kapsch TrafficCom AG		69,081
	3,028	Lenzing AG		193,241
	2,509	Mayr Melnhof Karton AG		319,229
	902	Oberbank AG		62,507
	14,426	Oesterreichische Post AG		736,711
	6,723	Palfinger AG		248,102
	10,308	POLYTEC Holding AG		103,995

Shares			Value
AUSTRIA (continued)
	36,497	Raiffeisen Bank International AG	$	1,151,924
	6,417	RHI AG		224,702
	516	Rosenbauer International AG		48,679
	5,208	S IMMO AG		41,141
	4,944	Schoeller-Bleckmann Oilfield Equipment AG		628,083
	4,742	Semperit AG Holding		264,566
	27,419	Strabag SE		766,500
	53,835	Telekom Austria AG		534,018
	7,063	UNIQA Insurance Group AG		90,149
	7,354	Verbund AG		142,581
	14,471	Vienna Insurance Group AG Wiener Versicherung Gruppe		771,432
	98,464	Voestalpine AG		4,494,264
	53,298	Wienerberger AG		989,725
	1,597	Wolford AG(b)		41,653
	15,071	Zumtobel AG		313,631
				16,140,009
BAHAMAS — 0.0%
	488	United International Enterprises		97,509
BELGIUM — 0.3%
	15,584	Ackermans & van Haaren NV		2,015,023
	2,240	Aedifica SA REIT		156,160
	120,952	Ageas		5,199,359
	83,862	AGFA - Gevaert NV(b)		321,114
	22,952	AGFA - Gevaert NV - VVPR Strip(b)(c)(d)		0
	7,223	Arseus NV		409,851
	192	Atenor Group		10,628
	105	Banque Nationale de Belgique		507,082
	5,911	Barco NV		440,209
	41,472	Belgacom SA		1,269,246
	2,364	Cie d’Entreprises CFE		260,473
	1,433	Cie Immobiliere de Belgique SA		81,908
	4,286	Cie Maritime Belge SA		127,248
	2,086	Cofinimmo REIT		255,657
	15,197	Colruyt SA		858,943
	32,670	Deceuninck NV(b)		112,224
	12,200	Deceuninck NV- VVPR Strip(b)(c)(d)		0
	57,235	Delhaize Group SA		4,251,334
	10,786	D’ieteren SA NV		498,748
	11,541	Econocom Group		123,800
	5,784	Elia System Operator SA NV		306,693
	7,746	Euronav NV(b)		93,601
	2,288	EVS Broadcast Equipment SA		144,746
	12,150	Exmar NV		202,697
	677	Intervest Offices & Warehouses REIT		21,133
	151	Jensen-Group NV		2,933
	993	Kinepolis Group NV		194,316
	47	Lotus Bakeries		52,161
	3,650	Melexis NV		146,952

Shares			Value
BELGIUM (continued)
	15,318	Mobistar SA	$	298,476
	22,521	NV Bekaert SA		916,400
	15,645	Nyrstar - VVPR Strip(b)(c)(d)		0
	5,199	Nyrstar NV		20,686
	1,095	Picanol(b)		43,448
	1,265	RealDolmen NV SA(b)		35,819
	11,173	Recticel SA		100,445
	118	Resilux		17,492
	170	Retail Estates NV REIT		13,443
	5,564	Sioen Industries NV		68,315
	2,739	Sipef NV		239,207
	4,255	Telenet Group Holding NV		249,379
	11,858	Tessenderlo Chemie NV		362,995
	1,410	Tessenderlo Chemie NV - VVPR Strip(b)(c)(d)		0
	3,085	ThromboGenics NV(b)		98,140
	21,258	Umicore SA		1,041,813
	1,563	Van de Velde NV		83,072
	24,240	Viohalco SA(b)		151,904
	3,065	Warehouses De Pauw SCA REIT		236,423
	178	Wereldhave Belgium NV REIT		22,717
				22,064,413
BERMUDA — 0.7%
	58,286	Archer Ltd.(b)		79,227
	250,000	Argo Group International Holdings Ltd.(d)		11,105,000
	200,000	Aspen Insurance Holdings Ltd.		9,156,000
	221,995	Catlin Group Ltd.		1,980,894
	381,000	Endurance Specialty Holdings Ltd.		19,362,420
	155,814	Golden Ocean Group Ltd.		275,492
	157,389	Hiscox Ltd.		1,876,083
	2,021	Hoegh LNG Holdings Ltd.(b)		19,719
	197,400	Wilson Sons Ltd. - BDR(d)		2,810,831
				46,665,666
BRAZIL — 0.8%
	160,000	Abril Educacao SA - Units		2,045,072
	12,300	AES Tiete SA		80,538
	17,400	AES Tiete SA - Preference Shares		137,031
	2,200	Aliansce Shopping Centers SA		17,908
	180,200	All - America Latina Logistica SA		709,567
	47,275	Alpargatas SA - Preference Shares		232,584
	4,500	Arezzo Industria e Comercio SA		50,293
	316,057	Autometal SA(d)		2,609,534
	7,700	B2W Cia Digital(b)		85,297
	60,029	Banco ABC Brasil SA - Preference Shares		351,330
	14,700	Banco Daycoval SA - Preference Shares		58,675

Shares			Value
BRAZIL (continued)
	95,190	Banco do Estado do Rio Grande do Sul SA - Class B, Preference Shares	$	546,443
	16,000	Banco Industrial e Comercial SA - Preference Shares		57,047
	25,100	Banco Panamericano SA - Preference Shares(b)		41,763
	24,447	Banco Pine SA - Preference Shares		80,037
	16,200	Banco Sofisa SA - Preference Shares		20,924
	17,100	Bematech SA		63,806
	103,092	BR Malls Participacoes SA		891,407
	25,300	Brasil Brokers Participacoes SA		50,038
	11,100	Brasil Insurance Participacoes e Administracao SA		49,682
	687,100	Brasil Pharma SA(b)		1,109,344
	144,318	Braskem SA - Class A, Preference Shares		983,155
	85,900	Brookfield Incorporacoes SA(b)		55,090
	16,700	Centrais Eletricas Brasileiras SA		58,419
	16,800	Centrais Eletricas Brasileiras SA - Preference Shares		95,236
	5,700	Centrais Eletricas de Santa Catarina SA - Preference Shares		40,390
	36,400	CETIP SA - Mercados Organizados		461,499
	6,300	Cia de Gas de Sao Paulo - Class A, Preference Shares		138,587
	168,900	Cia de Locacao das Americas		218,913
	25,500	Cia de Saneamento Basico do Estado de Sao Paulo		241,877
	10,700	Cia de Saneamento de Minas Gerais-COPASA		167,188
	5,300	Cia de Saneamento do Parana - Preference Shares		13,739
	3,600	Cia de Transmissao de Energia Eletrica Paulista - Preference Shares		39,992
	5,100	Cia Energetica de Minas Gerais		39,226
	63,400	Cia Energetica de Minas Gerais - Preference Shares		477,402
	25,300	Cia Energetica de Sao Paulo -Class B, Preference Shares		295,691
	2,775	Cia Energetica do Ceara - Class A, Preference Shares		43,571
	26,208	Cia Ferro Ligas da Bahia-Ferbasa - Preference Shares		149,273
	29,100	Cia Hering		310,348
	27,800	Cia Paranaense de Energia - Class B, Preference Shares		397,971
	18,300	Cia Providencia Industria e Comercio SA		66,396
	372,100	Cia Siderurgica Nacional SA		1,438,503
	8,920	Contax Participacoes SA - Units(b)		66,607

Shares			Value
BRAZIL (continued)
	66,600	Cosan SA Industria e Comercio	$	1,134,716
	11,000	CPFL Energia SA		92,598
	11,750	Cremer SA		87,476
	167,340	Cyrela Brazil Realty SA Empreendimentos e Participacoes		1,013,909
	400	Cyrela Commercial Properties SA Empreendimentos e Participacoes		3,129
	34,752	Direcional Engenharia SA		171,286
	225,980	Duratex SA		980,030
	12,500	EcoRodovias Infraestrutura e Logistica SA		73,775
	17,700	EDP - Energias do Brasil SA		77,635
	390,320	Embraer SA		3,362,730
	54,526	Eneva SA(b)		30,078
	14,569	Equatorial Energia SA		133,684
	32,800	Estacio Participacoes SA		347,896
	35,393	Eternit SA		137,778
	6,836	Eucatex SA Industria e Comercio - Preference Shares		16,341
	123,900	Even Construtora e Incorporadora SA		402,859
	27,068	Ez Tec Empreendimentos e Participacoes SA		328,980
	2,900	Fertilizantes Heringer SA(b)		6,854
	135,878	Fibria Celulose SA(b)		1,343,088
	339,400	Fleury SA		2,278,649
	2,185	Forjas Taurus SA		1,440
	30,937	Forjas Taurus SA - Preference Shares		14,707
	141,300	GAEC Educacao SA(b)		1,596,932
	108,200	Gafisa SA		176,633
	7,000	General Shopping Brasil SA(b)		21,693
	11,500	Gol-Linhas Aereas Inteligentes SA - Preference Shares(b)		73,753
	50,800	Grendene SA		320,099
	3,500	Guararapes Confeccoes SA		163,812
	64,740	Helbor Empreendimentos SA		217,760
	120,500	Hypermarcas SA		888,990
	314,100	Iguatemi Empresa de Shopping Centers SA		3,115,996
	7,000	Industrias Romi SA		15,822
	9,800	International Meal Co. Holdings SA		77,354
	16,470	Iochpe-Maxion SA		148,468
	51,534	JHSF Participacoes SA		86,670
	424,700	JSL SA(d)		2,289,447
	1,600	Kepler Weber SA		25,832
	413,900	Klabin SA - Units		2,173,683
	45,596	Kroton Educacional SA		969,279
	4,000	Light SA		31,752
	90,200	Linx SA		1,968,037
	33,075	Localiza Rent a Car SA		494,697
	36,310	Log-In Logistica Intermodal SA(b)		130,112
	21,800	Lojas Americanas SA		140,200

Shares			Value
BRAZIL (continued)
	83,200	Lojas Americanas SA - Preference Shares	$	632,466
	25,700	Lojas Renner SA		748,265
	10,400	LPS Brasil Consultoria de Imoveis SA		52,566
	8,300	M Dias Branco SA		357,349
	23,648	Magnesita Refratarios SA		50,059
	235,700	Mahle-Metal Leve SA Industria e Comercio		2,306,525
	185,780	Marcopolo SA - Preference Shares		341,607
	156,284	Marfrig Global Foods SA(b)		291,576
	13,800	Marisa Lojas SA		93,331
	22,500	Mills Estruturas e Servicos de Engenharia SA		283,047
	18,100	Minerva SA(b)		80,688
	19,092	MMX Mineracao e Metalicos SA(b)		22,005
	86,300	MRV Engenharia e Participacoes SA		274,024
	30,150	Multiplan Empreendimentos Imobiliarios SA		670,135
	9,000	Multiplus SA		115,116
	32,100	Natura Cosmeticos SA		552,815
	70,500	Odontoprev SA		284,561
	50,400	Oi SA - Preference Shares(d)		48,371
	16,300	Parana Banco SA - Preference Shares		78,585
	66,719	Paranapanema SA(b)		111,011
	299,658	PDG Realty SA Empreendimentos e Participacoes(b)		182,772
	61,700	Porto Seguro SA		906,234
	8,400	Profarma Distribuidora de Produtos Farmaceuticos SA		67,961
	35,600	QGEP Participacoes SA		136,030
	38,309	Raia Drogasil SA		328,498
	71,812	Randon Participacoes SA - Preference Shares		228,988
	12,900	Restoque Comercio e Confeccoes de Roupas SA		35,580
	14,700	Rodobens Negocios Imobiliarios SA		76,211
	211,168	Rossi Residencial SA(b)		151,528
	25,350	Santos Brasil Participacoes SA - Units		196,683
	34,100	Sao Martinho SA		503,299
	11,475	Saraiva SA Livreiros Editores - Preference Shares		81,312
	20,200	SLC Agricola SA		155,548
	188,000	Sonae Sierra Brasil SA		1,512,600
	111,473	Sul America SA - Units		809,895
	185,953	Suzano Papel e Celulose SA - Class A, Preference Shares		601,288
	78,400	Tecnisa SA		242,259
	2,000	Tegma Gestao Logistica		16,854
	2,800	Tempo Participacoes SA		5,400

Shares			Value
BRAZIL (continued)
	8,800	Tereos Internacional SA	$	7,064
	29,200	Totvs SA		479,169
	5,500	TPI - Triunfo Participacoes e Investimentos SA		21,534
	27,600	Transmissora Alianca de Energia Eletrica SA - Units		243,600
	171,700	Tupy SA		1,374,524
	9,600	UNICASA Industria de Moveis SA		18,040
	72	Unipar Carbocloro SA - Preference Shares		15
	241,300	Usinas Siderurgicas de Minas Gerais SA - Class A, Preference shares(b)		945,829
	18,303	Valid Solucoes e Servicos de Seguranca em Meios de Pagamento e Identificacao SA		282,128
	52,200	Vanguarda Agro SA(b)		74,914
				59,333,911
CAMBODIA — 0.0%
	248,000	NagaCorp Ltd.		225,194
CANADA — 2.4%
	14,000	5N Plus, Inc.(b)		61,694
	15,424	Aberdeen International, Inc.(b)		1,900
	6,775	Absolute Software Corp.		42,465
	2,790	Acadian Timber Corp.		32,073
	67,953	Advantage Oil & Gas Ltd.(b)		430,267
	30,538	Aecon Group, Inc.		512,937
	2,700	AG Growth International, Inc.		106,862
	44,207	AGF Management Ltd. - Class B		492,466
	43,486	Agnico-Eagle Mines Ltd.		1,284,286
	59,300	Aimia, Inc.		954,925
	14,401	Ainsworth Lumber Co. Ltd.(b)		49,403
	2,500	Air Canada - Class A(b)		17,449
	1,100	Akita Drilling Ltd. - Class A		17,643
	63,500	Alamos Gold, Inc.		593,837
	5,880	Algoma Central Corp.		83,958
	108,142	Algonquin Power & Utilities Corp.		777,482
	8,470	Alliance Grain Traders, Inc.		141,650
	43,545	AltaGas Ltd.		1,855,346
	10,000	Alterra Power Corp.(b)		2,920
	7,748	Altius Minerals Corp.(b)		101,794
	11,700	Altus Group Ltd.		207,623
	4,403	Alvopetro Energy Ltd.(b)		3,816
	80,500	Amerigo Resources Ltd.(b)		35,988
	2,600	Amica Mature Lifestyles, Inc.		18,621
	39,396	Anderson Energy Ltd.(b)		8,267
	81,625	Antrim Energy, Inc.(b)		4,841
	4,772	Arsenal Energy, Inc.		29,171
	12,175	Artek Exploration Ltd.(b)		47,431
	25,400	Atco Ltd. - Class I		1,240,047
	87,400	Athabasca Oil Corp.(b)		649,091
	22,663	ATS Automation Tooling Systems, Inc.(b)		293,613

Shares			Value
CANADA (continued)
	67,401	AuRico Gold, Inc.	$	280,415
	1,900	AutoCanada, Inc.		121,345
	3,900	Avigilon Corp.(b)		91,838
	396,886	B2Gold Corp.(b)(d)		1,140,633
	6,579	Badger Daylighting Ltd.		229,294
	46,861	Ballard Power Systems, Inc.(b)		171,018
	139,300	Bankers Petroleum Ltd.(b)		758,744
	22,100	Banro Corp(b)		9,477
	25,728	Baytex Energy Corp.		1,070,856
	54,963	Bellatrix Exploration Ltd.(b)		534,561
	53,800	Birchcliff Energy Ltd.(b)		623,875
	9,842	Bird Construction, Inc.		126,611
	15,938	Black Diamond Group Ltd.		501,093
	117,207	BlackBerry Ltd.(b)		895,053
	126,000	BlackPearl Resources, Inc.(b)		354,071
	7,900	Boardwalk Real Estate Investment Trust, REIT		445,292
	48,603	Bonavista Energy Corp.		763,600
	4,733	Bonterra Energy Corp.		246,873
	11,570	Boralex, Inc. - Class A		134,696
	100	Brookfield Real Estate Services, Inc.		1,343
	6,645	Brookfield Residential Properties, Inc.(b)		130,711
	564,313	CAE, Inc.		7,450,033
	10,165	Calfrac Well Services Ltd.		351,956
	1,862	Calian Technologies Ltd.		32,193
	16,600	Calloway Real Estate Investment Trust		405,591
	16,191	Calvalley Petroleum, Inc. - Class A(b)		23,340
	29,611	Canaccord Genuity Group, Inc.		255,842
	16,731	Canacol Energy Ltd.(b)		126,087
	4,100	Canada Bread Co. Ltd.		270,229
	18,318	Canadian Apartment Properties REIT		351,469
	15,185	Canadian Energy Services & Technology Corp.		447,771
	11,606	Canadian Real Estate Investment Trust		478,408
	84,813	Canadian Western Bank		2,873,915
	21,932	Canam Group, Inc. - Class A		280,541
	44,277	CanElson Drilling, Inc.		332,062
	17,886	Canexus Corp.		78,656
	44,643	Canfor Corp.(b)		1,012,568
	17,943	Canfor Pulp Products, Inc.		199,394
	16,000	CanWel Building Materials Group Ltd.		38,392
	9,688	Canyon Services Group, Inc.		133,292
	6,007	Capital Power Corp.		134,932
	58,241	Capstone Infrastructure Corp.		215,206
	143,183	Capstone Mining Corp.(b)		377,536
	47,246	Cascades, Inc.		276,739
	7,306	Cash Store Financial Services, Inc. (The)(b)		771
	11,809	Cathedral Energy Services Ltd.		46,113
	16,407	CCL Industries, Inc. - Class B		1,491,831

Shares			Value
CANADA (continued)
	87,500	Celestica, Inc.(b)	$	970,759
	104,494	Centerra Gold, Inc.		535,793
	104,378	Cequence Energy Ltd.(b)		287,598
	1,900	Cervus Equipment Corp.		37,288
	8,900	Chartwell Retirement Residences REIT		84,692
	87,396	China Gold International Resources Corp. Ltd.(b)		224,859
	16,355	Chinook Energy, Inc.(b)		28,650
	4,620	Churchill Corp. (The) - Class A		46,662
	28,912	Cineplex, Inc.		1,089,690
	18,051	Claude Resources, Inc.(b)		2,964
	9,100	Cogeco Cable, Inc.		498,152
	4,665	Cogeco, Inc.		244,476
	28,143	COM DEV International Ltd.(b)		93,720
	10,255	Cominar Real Estate Investment Trust		177,770
	10,200	Computer Modelling Group Ltd.		278,068
	131,262	Connacher Oil and Gas Ltd.(b)		38,922
	3,107	Constellation Software, Inc.		688,129
	5,800	Contrans Group, Inc. - Class A		76,095
	55,139	Copper Mountain Mining Corp.(b)		117,215
	4,700	Corby Spirit and Wine Ltd.		93,781
	62,122	Corus Entertainment, Inc. - Class B		1,395,414
	56,517	Cott Corp.		458,922
	56,307	Crew Energy, Inc.(b)		638,048
	35,826	Crocotta Energy, Inc.(b)		122,901
	37,504	Davis & Henderson Corp.		1,086,061
	19,795	DeeThree Exploration Ltd.(b)		212,028
	63,438	Delphi Energy Corp.(b)		193,894
	123,700	Denison Mines Corp.(b)		169,290
	17,700	Descartes Systems Group, Inc. (The)(b)		239,811
	11,274	DHX Media Ltd.		50,710
	3,059	DirectCash Payments, Inc.		41,194
	30,931	Dollarama, Inc.		2,572,574
	41,240	Dominion Diamond Corp.(b)		518,110
	13,809	Dorel Industries, Inc. - Class B		494,884
	16,835	DragonWave, Inc.(b)		23,347
	35,170	Duluth Metals Ltd.(b)		19,895
	49,786	Dundee Precious Metals, Inc.(b)		165,340
	8,500	Dundee Real Estate Investment Trust - Class A, REIT		223,968
	11,964	Dynasty Metals & Mining, Inc.(b)		14,735
	405	E-L Financial Corp. Ltd.		267,155
	213,500	Eldorado Gold Corp.		1,301,200
	10,019	Emera, Inc.		309,880
	8,287	Enbridge Income Fund Holdings, Inc.		201,419
	61,981	Endeavour Silver Corp.(b)		283,313
	8,281	Enerflex Ltd.		131,765
	2,736	Energy Fuels, Inc.(b)		21,268

Shares			Value
CANADA (continued)
	123,510	Enerplus Corp.	$	2,739,408
	2,342	Enghouse Systems Ltd.		66,774
	71,016	Ensign Energy Services, Inc.		1,117,673
	29,186	Epsilon Energy Ltd.(b)		106,513
	9,245	Equal Energy Ltd.		41,837
	5,842	Equitable Group, Inc.		321,002
	75,613	Essential Energy Services Trust(b)		197,302
	1,100	Evertz Technologies Ltd.		16,359
	1,700	Excellon Resources, Inc.(b)		2,249
	2,974	Exchange Income Corp.		50,387
	5,600	Exco Technologies Ltd.		47,261
	14,469	EXFO, Inc.(b)		65,345
	16,600	Extendicare, Inc.		102,079
	64,225	Finning International, Inc.		1,734,465
	553	Firm Capital Mortgage Investment Corp.		6,095
	9,091	First Capital Realty Inc.		148,883
	30,350	First Majestic Silver Corp.(b)		287,980
	2,412	First National Financial Corp.		52,397
	9,700	FirstService Corp.		478,783
	835	Fortress Paper Ltd. - Class A(b)		2,400
	57,167	Fortuna Silver Mines, Inc.(b)		236,794
	1,088	Gamehost, Inc.		14,860
	34,852	Genworth MI Canada, Inc.		1,222,626
	23,276	Gibson Energy, Inc.		621,373
	1,500	Gildan Activewear, Inc.		76,680
	2,500	Glentel, Inc.		26,117
	2,859	GLG Life Tech Corp.(b)		1,617
	4,565	Gluskin Sheff & Associates, Inc.		137,194
	2,010	GLV, Inc. - Class A(b)		7,354
	14,327	GMP Capital, Inc.		108,624
	144,213	Gran Tierra Energy, Inc.(b)		1,024,971
	2,800	Granite Real Estate Investment Trust		107,856
	33,752	Great Canadian Gaming Corp.(b)		466,532
	23,182	Great Panther Silver Ltd.(b)		25,381
	6,784	Guardian Capital Group Ltd. - Class A		105,221
	19,400	Guyana Goldfields, Inc.(b)		42,480
	7,102	Heroux-Devtek, Inc.(b)		74,257
	670	High Liner Foods, Inc.		27,080
	3,627	HNZ Group, Inc.		74,522
	27,800	Home Capital Group, Inc.		1,174,598
	27,827	Horizon North Logistics, Inc.		202,854
	72,091	HudBay Minerals, Inc.		614,982
	5,600	Hudson’s Bay Co.		88,543
	205,300	IAMGOLD Corp.		715,520
	7,800	Imax Corp.(b)		199,901
	27,086	Imperial Metals Corp.(b)		344,738
	39,500	Industrial Alliance Insurance and Financial Services, Inc.		1,630,742
	24,979	Innergex Renewable Energy, Inc.		241,574

Shares			Value
CANADA (continued)
	23,670	International Forest Products Ltd. - Class A(b)	$	358,921
	5,748	International Tower Hill Mines Ltd.(b)		3,881
	25,626	Intertape Polymer Group, Inc.		300,671
	18,561	Ivernia, Inc.(b)		2,201
	22,616	Jean Coutu Group PJC, Inc. (The) Class A		455,807
	10,550	Just Energy Group, Inc.		83,838
	276,940	Katanga Mining Ltd.(b)(d)		117,492
	1,300	K-Bro Linen, Inc.		47,443
	16,550	Kelt Exploration Ltd.(b)		207,923
	25,539	Keyera Corp.		1,698,639
	13,811	Killam Properties, Inc.		131,677
	1,953	Kingsway Financial Services, Inc.(b)		11,529
	16,100	Kirkland Lake Gold, Inc.(b)		45,389
	6,230	Knight Therapeutics, Inc.(b)		33,024
	103,500	Lake Shore Gold Corp.(b)		83,098
	13,254	Laramide Resources Ltd.(b)		6,409
	16,985	Laurentian Bank of Canada		729,578
	1,200	Le Chateau, Inc. - Class A(b)		2,989
	76,800	Legacy Oil & Gas, Inc.(b)		597,695
	8,682	Leisureworld Senior Care Corp.		96,797
	13,400	Leon’s Furniture Ltd.		184,119
	98,037	Lightstream Resources Ltd.		589,447
	29,705	Linamar Corp.		1,487,079
	8,170	Liquor Stores N.A. Ltd.		88,554
	58,157	Long Run Exploration Ltd.		293,955
	59,500	Lucara Dianmond Corp.(b)		103,686
	226,995	Lundin Mining Corp.(b)		1,159,776
	17,647	MacDonald Dettwiler & Associates Ltd.		1,368,546
	4,400	Magellan Aerospace Corp.		34,845
	500	Mainstreet Equity Corp.(b)		16,559
	43,095	Major Drilling Group International, Inc.		338,925
	40,633	Mandalay Resources Corp.		35,219
	11,156	Manitoba Telecom Services, Inc.		308,303
	48,666	Maple Leaf Foods, Inc.		804,107
	40,911	Martinrea International, Inc.		412,077
	10,600	MBAC Fertilizer Corp.(b)		5,319
	2,300	McCoy Corp.		13,220
	57,969	McEwen Mining - Minera Andes Acquisition Corp.(b)		138,040
	6,400	Medical Facilities Corp.		111,236
	3,929	MEGA Brands, Inc.(b)		63,592
	1,400	Melcor Developments Ltd.		29,250
	29,200	Methanex Corp.		1,808,666
	13,007	Mitel Networks Corp.(b)		119,146
	219,202	Morguard Real Estate Investment Trust(d)		3,361,877
	15,887	Morneau Shepell, Inc.		232,496
	1,400	MTY Food Group, Inc.		38,703
	44,077	Mullen Group Ltd.		1,195,172
	123,837	Nevsun Resources Ltd.		448,550

Shares			Value
CANADA (continued)
	6,729	New Flyer Industries, Inc.	$	71,339
	225,700	New Gold, Inc.(b)		1,140,804
	13,950	New Millennium Iron Corp.(b)		5,218
	45,336	Newalta Corp.		831,398
	14,000	Niko Resources Ltd.(b)		26,313
	7,923	Norbord, Inc.		194,090
	31,488	Nordion, Inc.(b)		363,992
	4,148	North American Energy Partners, Inc.		32,585
	15,831	North West Co. Inc., (The)		350,115
	6,358	Northern Dynasty Minerals Ltd.(b)		4,815
	314,600	Northern Property Real Estate Investment Trust(d)		8,031,119
	20,118	Northland Power, Inc.		314,421
	3,613	NorthWest Healthcare Properties Real Estate Investment Trust		33,030
	47,000	Novagold Resources, Inc.(b)		165,522
	46,201	NuVista Energy Ltd.(b)		461,146
	25,200	Open Text Corp.(f)		1,242,699
	2,104	Open Text Corp.(f)		103,811
	32,506	Orvana Minerals Corp.(b)		18,981
	92,400	Osisko Mining Corp.(b)		661,776
	10,216	Painted Pony Petroleum Ltd.(b)		105,511
	37,045	Pan American Silver Corp.		479,941
	55,124	Parex Resources, Inc.(b)		551,215
	19,488	Parkland Fuel Corp.		360,938
	472,514	Pason Systems, Inc.(d)		13,122,874
	289,073	Pengrowth Energy Corp.		1,877,834
	243,465	Penn West Petroleum Ltd.		2,201,303
	780	Perpetual Energy, Inc.(b)		1,281
	9,000	Petaquilla Minerals Ltd.(b)		1,724
	27,400	Peyto Exploration & Development Corp.		1,010,204
	113,000	Phoscan Chemical Corp.(b)		30,929
	3,906	PHX Energy Services Corp.		53,848
	2,100	Points International Ltd.(b)		48,072
	160,453	Precision Drilling Corp.(f)		2,086,087
	489	Precision Drilling Corp.(f)		6,357
	13,536	Premium Brands Holdings Corp.		261,198
	55,909	Primero Mining Corp.(b)		353,496
	816	Progressive Waste Solutions Ltd.		19,886
	31,060	Progressive Waste Solutions Ltd. - Placement Shares		756,061
	20,867	Pulse Seismic, Inc.		69,680
	500	Pure Technologies Ltd.		3,225
	9,975	QLT, Inc.(d)		57,699
	27,400	Quebecor, Inc. - Class B		646,221
	52,100	Questerre Energy Corp. - Class A(b)		59,893
	10,943	RB Energy, Inc.(b)		6,889
	10,077	Reitmans (Canada) Ltd. - Class A		61,140
	4,400	Richelieu Hardware Ltd.		197,068

Shares			Value
CANADA (continued)
	500,000	Ritchie Bros Auctioneers, Inc.	$	12,500,000
	284,100	Ritchie Bros. Auctioneers, Inc.		7,099,584
	58,032	RMP Energy, Inc.(b)		442,103
	3,231	Rock Energy, Inc.(b)		19,308
	7,630	Rocky Mountain Dealerships, Inc.		73,721
	40,812	Rogers Sugar, Inc.		182,454
	76,007	RONA, Inc.		766,276
	33,389	Russel Metals, Inc.		982,433
	21,300	Sandstorm Gold Ltd.(b)		117,961
	188,000	Sandvine Corp.(b)		668,948
	56,481	Savanna Energy Services Corp.		458,114
	64,511	Scorpio Mining Corp.(b)		15,303
	4,300	Sears Canada Inc.		62,967
	14,006	Secure Energy Services, Inc.		251,228
	149,667	SEMAFO, Inc.		559,860
	26,812	ShawCor Ltd.		1,194,254
	167,000	Sherritt International Corp.		706,975
	19,469	Sierra Wireless, Inc.(b)		420,270
	44,500	Silver Standard Resources, Inc.(b)		440,514
	35,300	Sprott Resource Corp.		81,483
	28,531	Sprott, Inc.		84,600
	26,630	Spyglass Resources Corp.		43,976
	33,100	St. Andrew Goldfields Ltd.(b)		9,815
	10,542	Stantec, Inc.		624,797
	7,060	Stella-Jones, Inc.		192,982
	2,400	Strad Energy Services Ltd.		9,832
	26,948	Student Transportation, Inc.		166,450
	23,746	SunOpta, Inc.(b)		275,796
	33,553	Superior Plus Corp.		404,393
	41,238	Surge Energy, Inc.		260,736
	11,967	TAG Oil Ltd.(b)		34,829
	50,222	Taseko Mines Ltd.(b)		108,596
	29,538	Tembec, Inc.(b)		65,218
	86,490	Teranga Gold Corp.(b)		56,816
	45,730	Teranga Gold Corp. - CDI(b)		31,437
	41,669	Timmins Gold Corp.(b)		58,547
	8,357	TMX Group Ltd.		440,247
	17,374	TORC Oil & Gas Ltd.		212,093
	23,345	Toromont Industries Ltd.		577,422
	28,051	Torstar Corp. - Class B.		167,121
	22,950	Total Energy Services, Inc.		452,279
	485	Tourmaline Oil Corp.(b)		25,108
	146,200	TransAlta Corp.		1,786,066
	34,378	Transcontinental, Inc. - Class A		500,905
	41,874	TransForce, Inc.		914,233
	29,700	TransGlobe Energy Corp.(b)		231,411
	44,600	Trican Well Service Ltd.		638,858
	20,400	Trilogy Energy Corp.		558,369
	70,509	Trinidad Drilling Ltd.		788,687
	200,200	Turquoise Hill Resources Ltd.(b)		778,114
	159,118	Twin Butte Energy Ltd.		342,611
	8,241	Uni-Select, Inc.		225,790
	4,141	Valener, Inc.		58,976

Shares			Value
CANADA (continued)
	433	Vermilion Energy, Inc.	$	28,811
	3,200	Vicwest, Inc.		27,853
	7,539	Virginia Mines, Inc.(b)		78,413
	4,010	Wajax Corp.		129,697
	2,361	Wesdome Gold Mines Ltd.(b)		1,788
	22,352	West Fraser Timber Co. Ltd.		999,268
	26,197	Western Energy Services Corp.		269,128
	71,338	Western Forest Products, Inc.		142,539
	3,630	WesternOne, Inc. - Units		24,839
	6,300	Westjet Airlines Ltd.		143,468
	5,917	Westshore Terminals Investment Corp.		192,294
	7,900	Whistler Blackcomb Holdings, Inc.		118,206
	54,450	Whitecap Resources, Inc.		718,350
	33,200	Wi-Lan, Inc.		102,079
	11,548	Winpak Ltd.		291,005
	10,050	WSP Global, Inc.		343,940
	14,274	Xtreme Drilling and Coil Services Corp.(b)		65,246
	17,772	Zargon Oil & Gas Ltd.		156,633
	2,000	ZCL Composites, Inc.		11,514
				170,693,874
CAYMAN ISLANDS — 0.0%
	23,308	China Great Star International Ltd.(b)		70,716
	95,746	Endeavour Mining Corp.(b)		75,126
				145,842
CHILE — 0.1%
	383,012	AES Gener SA		206,013
	487,853	Aguas Andinas SA - Class A		300,966
	130,649	Banmedica SA		211,861
	77,620	Besalco SA		67,956
	30,829	CAP SA		462,226
	243,906	CFR Pharmaceuticals SA		49,710
	2,925	Cia Cervecerias Unidas SA		34,524
	43,481	Cia General de Electricidad SA		204,207
	18,733	Cia Sud Americana de Vapores SA(b)		890
	924,504	Colbun SA		228,744
	50,487,302	CorpBanca SA		591,616
	17,201	Cristalerias de Chile SA(d)		124,986
	61,992	E.CL SA		78,740
	15,622	Embotelladora Andina SA - Class A, Preference Shares		50,112
	16,401	Embotelladora Andina SA - Class B, Preference Shares		65,981
	37,467	Empresas Hites SA		20,923
	32,243	ENTEL Chile SA		395,827
	20,702	Forus SA		87,320
	12,790	Gasco SA		112,202
	138,767	Grupo Security SA		48,448
	448,016	Inversiones Aguas Metropolitanas SA		741,584
	4,287	Latam Airlines Group SA - BDR		62,005

Shares			Value
CHILE (continued)
	535,964	Madeco SA(b)	$	2,223
	1,142,051	Masisa SA		56,672
	952	Molibdenos y Metales SA		12,949
	134,264	Multiexport Foods SA(b)		30,217
	113,026	Parque Arauco SA		202,293
	22,204	PAZ Corp. SA		12,435
	163,857	Ripley Corp. SA		106,575
	158,473	Sigdo Koppers SA		258,385
	20,922	Sociedad Matriz SAAM SA		1,691
	179,081	Socovesa SA		33,324
	134,117	Sonda SA		310,184
	235,571	Vina Concha y Toro SA		492,639
	853,398	Vina San Pedro Tarapaca SA		5,747
				5,672,175
CHINA — 1.2%
	2,349,500	AAC Technologies Holdings, Inc.		13,121,889
	938,000	Agile Property Holdings Ltd.		761,003
	858,000	Air China Ltd. - H Shares		486,937
	297,090	Airtac International Group		3,192,453
	1,074,000	Aluminum Corp. of China Ltd. - H Shares(b)		383,722
	680,000	Angang Steel Co. Ltd. - H Shares(b)		412,230
	22,000	Anhui Expressway Co. Ltd. - H Shares		11,975
	32,000	Anhui Tianda Oil Pipe Co. Ltd. - H Shares		6,150
	178,000	ANTA Sports Products Ltd.		260,355
	408,000	Anton Oilfield Services Group		269,967
	639,000	Asia Cement China Holdings Corp.		464,850
	96,000	Aupu Group Holding Co. Ltd.		11,268
	98,000	AVIC International Holdings Ltd.(b)		35,393
	196,000	AviChina Industry & Technology Co. - H Shares		104,662
	113,500	Baoxin Auto Group Ltd.		85,642
	196,000	Baoye Group Co. Ltd. - H Shares		116,291
	287,000	BBMG Corp. - H Shares		201,749
	1,024,000	Beijing Capital International Airport Co. Ltd. - H Shares		710,584
	716,000	Beijing Capital Land Ltd. - H Shares		241,039
	50,000	Beijing Jingneng Clean Energy Co. Ltd.		21,476
	420,000	Beijing North Star Co. Ltd. - H Shares		98,053
	33,500	Biostime International Holdings Ltd.		222,528
	17,500	Bloomage Biotechnology Corp. Ltd.		47,063
	47,000	Boer Power Holdings Ltd.		61,713
	577,000	BYD Electronic International Co. Ltd.(b)		355,743

Shares			Value
CHINA (continued)
	361,656	Central China Real Estate Ltd.	$	89,097
	58,000	Changshouhua Food Co. Ltd.		58,876
	249,000	Chaowei Power Holdings Ltd.		128,146
	70,000	China Animal Healthcare Ltd.(b)		45,686
	861,000	China Aoyuan Property Group Ltd.		146,592
	431,000	China Automation Group Ltd.		76,717
	960,857	China BlueChemical Ltd. - H Shares		515,567
	833,000	China Coal Energy Co. Ltd. - H Shares		450,186
	1,190,000	China Communications Services Corp. Ltd. - H Shares		603,216
	545,500	China COSCO Holdings Co. Ltd. - H Shares(b)		216,006
	121,000	China Datang Corp. Renewable Power Co. Ltd. - H Shares		16,075
	954,000	China Dongxiang Group Co.		168,578
	144,000	China Dredging Environment Protection Holdings Ltd.(b)		49,406
	646,000	China Eastern Airlines Corp. Ltd. - H Shares(b)		199,142
	952,000	China Gas Holdings Ltd.		1,547,179
	789,500	China Hongqiao Group Ltd.		539,711
	332,500	China Huiyuan Juice Group Ltd.(b)		217,865
	90,400	China International Marine Containers Group Co. Ltd. - H Shares		177,933
	251,000	China ITS Holdings Co. Ltd.		47,915
	251,000	China Lesso Group Holdings. Ltd.		133,384
	66,000	China Lilang Ltd.		42,564
	215,000	China Longyuan Power Group Corp. - H Shares		221,296
	135,000	China Medical System Holdings Ltd.		159,849
	367,000	China Mengniu Dairy Co. Ltd.		1,886,372
	180,000	China Modern Dairy Holdings Ltd.(b)		77,080
	247,678	China Molybdenum Co. Ltd. - H Shares		110,215
	1,568,084	China National Building Material Co. Ltd. - H Shares		1,482,540
	641,000	China National Materials Co. Ltd. - H Shares		124,017
	200,000	China Qinfa Group Ltd.		8,513
	1,344,000	China Railway Construction Corp. Ltd. - H Shares		1,111,195
	1,150,000	China Railway Group Ltd. - H Shares		511,741
	216,000	China Rare Earth Holdings Ltd.(b)		27,582
	783,000	China Rongsheng Heavy Industries Group Holdings Ltd.(b)		135,332

Shares			Value
CHINA (continued)
	271,000	China Sanjiang Fine Chemicals Co. Ltd.	$	118,496
	737,400	China SCE Property Holdings Ltd.		159,788
	1,215,488	China Shanshui Cement Group Ltd.		468,765
	138,000	China Shineway Pharmaceutical Group Ltd.		241,720
	2,019,093	China Shipping Container Lines Co. Ltd. - H Shares(b)		481,794
	862,000	China Shipping Development Co. Ltd., H Shares(b)		471,418
	958,000	China Southern Airlines Co. Ltd. - H Shares		285,437
	153,000	China Suntien Green Energy Corp. Ltd. - H Shares		51,704
	176,000	China Taifeng Beddings Holdings Ltd.		19,523
	400,000	China Tontine Wines Group Ltd.(b)		17,284
	520,000	China Yurun Food Group Ltd.(b)		250,176
	466,500	China Zhengtong Auto Services Holdings Ltd.(b)		253,920
	1,005,600	China Zhongwang Holdings Ltd.(b)		313,887
	350,000	Chinasoft International Ltd.(b)		100,671
	312,000	Chongqing Iron & Steel Co. Ltd. - H Shares(b)		44,669
	278,000	Chongqing Machinery & Electric Co. Ltd. - H Shares		35,857
	1,620,000	Chongqing Rural Commercial Bank - H Shares		710,439
	228,000	Chu Kong Petroleum & Natural Gas Steel Pipe Holdings Ltd.		69,403
	158,000	Comtec Solar Systems Group Ltd.(b)		24,863
	292,000	Coolpad Group Ltd.		126,171
	1,587,291	Country Garden Holdings Co. Ltd.		636,722
	3,578,000	CPMC Holdings Ltd.(d)		2,838,236
	9,516,000	Dalian Port PDA Co. Ltd. - H Shares(d)		2,246,149
	538,000	Daphne International Holdings Ltd.		215,812
	230,000	Datang International Power Generation Co. Ltd. - H Shares		85,735
	17,000	Delong Holdings Ltd.(b)		5,085
	79,600	Dongfang Electric Corp. Ltd. - H Shares		124,231
	11,100	Dongjiang Environmental Co. Ltd. - H Shares		39,945
	794,000	Dongyue Group Ltd.		317,479
	184,000	ENN Energy Holdings Ltd.		1,286,323
	4,375,000	Evergrande Real Estate Group Ltd.		1,952,483

Shares			Value
CHINA (continued)
	1,258,500	Fantasia Holdings Group Co. Ltd.	$	167,195
	1,505,000	FIH Mobile Ltd.(b)		811,420
	174,000	First Tractor Co. Ltd. - H Shares		101,892
	673,500	Fosun International Ltd.		814,842
	511,600	Fufeng Group Ltd.		194,664
	148,000	Golden Eagle Retail Group Ltd.		190,895
	5,441,600	GOME Electrical Appliances Holdings Ltd.		1,024,737
	131,000	Goodbaby International Holdings Ltd.		71,811
	308,000	Great Wall Technology Co. Ltd. - H Shares(b)		119,578
	74,000	Greatview Aseptic Packaging Co. Ltd.		45,147
	111,000	Greenland Hong Kong Holdings Ltd.		50,539
	441,000	Greentown China Holdings Ltd.		443,676
	950,000	Guangshen Railway Co. Ltd. - H Shares		359,025
	467,753	Guangzhou Automobile Group Co. Ltd. - H Shares		471,798
	76,000	Guangzhou Baiyunshan Pharmaceutical Holdings Co. Ltd.		226,443
	498,000	Guangzhou R&F Properties Co. Ltd. - H Shares		650,044
	30,400	Guangzhou Shipyard International Co. Ltd. - H Shares(c)(d)		53,640
	329,000	Guodian Technology & Environment Group Co. Ltd. - H Shares		81,900
	56,000	Hainan Meilan International Airport Co. Ltd. - H Shares		53,089
	2,603,000	Haitian International Holdings Ltd.		5,244,308
	494,000	Harbin Electric Co. Ltd. - H Shares		288,641
	3,695,000	Hilong Holding Ltd.		1,925,435
	79,000	Hisense Kelon Electrical Holdings Co. Ltd. - H Shares(b)		93,643
	475,000	Honghua Group Ltd.		112,119
	28,000	Hopefluent Group Holdings Ltd.		9,173
	138,000	Huadian Power International Corp. Ltd. - H Shares		74,937
	1,512,000	Huaneng Renewables Corp. Ltd. - H Shares		468,054
	192,000	Hunan Non-Ferrous Metal Corp. Ltd. - H Shares(b)		55,721
	268,500	Intime Retail Group Co. Ltd.		263,549
	80,000	JES International Holdings Ltd.(b)		5,041
	122,000	Jiangsu Expressway Co. Ltd. - H Shares		137,375

Shares			Value
CHINA (continued)
	378,000	Jiangxi Copper Co. Ltd. - H Shares	$	624,072
	92,000	Jingwei Textile Machinery - H Shares		80,692
	1,141,000	Kaisa Group Holdings Ltd.		362,038
	114,000	Kasen International Holdings Ltd.(b)		24,115
	228,000	Kingdee International Software Group Co. Ltd.(b)		67,933
	73,000	Kingsoft Corp. Ltd.		224,566
	84,000	Labixiaoxin Snacks Group Ltd.(c)(d)		32,504
	64,000	Leoch International Technology Ltd.(b)		9,411
	76,000	Li Heng Chemical Fibre Technologies Ltd.(b)		5,456
	245,750	Li Ning Co. Ltd.(b)		171,167
	58,000	Lianhua Supermarket Holdings Co. Ltd. - H Shares		32,168
	26,000	Lingbao Gold Co. Ltd. - H Shares		4,594
	741,500	Longfor Properties Co. Ltd.		958,323
	1,019,000	Lonking Holdings Ltd.(b)		187,950
	1,182,000	Maanshan Iron & Steel Co. Ltd. - H Shares(b)		246,982
	872,000	Maoye International Holdings Ltd.		124,845
	1,396,000	Metallurgical Corp. of China Ltd. - H Shares(b)		268,290
	2,874,000	Microport Scientific Corp.		1,946,162
	146,000	Minth Group Ltd.		229,368
	34,000	Nanjing Panda Electronics Co. Ltd. - H Shares(c)(d)		20,173
	310,000	NVC Lighting Holdings Ltd.		77,171
	179,000	O-Net Communications Group Ltd.		46,407
	96,800	Pacific Online Ltd.		52,439
	70,000	Pan Asia Environmental Protection Group Ltd.(b)		12,911
	645,000	Parkson Retail Group Ltd.		188,851
	363,000	Peak Sport Products Co. Ltd.		101,601
	750,000	Powerlong Real Estate Holdings Ltd.		113,183
	82,000	Prince Frog International Holdings Ltd.		23,586
	402,000	Qingling Motors Co. Ltd. - H Shares		123,406
	261,000	Qunxing Paper Holdings Co. Ltd.(c)(d)		67,935
	67,000	Real Gold Mining Ltd.(b)(c)(d)		2,273
	5,423,430	Renhe Commercial Holdings Co. Ltd.(b)		311,291
	193,000	Sany Heavy Equipment International Holdings Co. Ltd.		44,809
	34,500	Sateri Holdings Ltd.		6,408
	10,509,806	Semiconductor Manufacturing International Corp.(b)		854,020

Shares			Value
CHINA (continued)
	253,500	Shandong Chenming Paper Holdings Ltd. - H Shares	$	111,825
	49,600	Shandong Molong Petroleum Machinery Co. Ltd. - H Shares		13,691
	484,000	Shandong Weigao Group Medical Polymer Co. Ltd. - H Shares		486,937
	678,000	Shanghai Electric Group Co. Ltd. - H Shares		265,850
	26,500	Shanghai Fosun Pharmaceutical Group Co. Ltd. - H Shares		89,553
	724,000	Shanghai Jin Jiang International Hotels Group Co. Ltd. - H Shares		175,562
	205,600	Shanghai Pharmaceuticals Holding Co. Ltd. - H Shares		376,569
	222,000	Shanghai Prime Machinery Co. Ltd. - H Shares		33,502
	687,000	Shengli Oil & Gas Pipe Holdings Ltd.		35,002
	204,000	Shenguan Holdings Group Ltd.		87,358
	32,000	Shenzhen Expressway Co. Ltd. - H Shares		14,611
	162,000	Shenzhou International Group Holdings Ltd.		557,904
	1,728,381	Shui On Land Ltd.		457,011
	64,000	Shunfeng Photovoltaic International Ltd.(b)		82,467
	257,000	Sihuan Pharmaceutical Holdings Group Ltd.		283,090
	65,000	Sino Grandness Food Industry Group Ltd.(b)		35,774
	73,000	SinoMedia Holding Ltd.		64,027
	1,780,939	Sino-Ocean Land Holdings Ltd.		941,816
	378,000	Sinopec Shanghai Petrochemical Co. Ltd. - H Shares		92,148
	351,000	Sinopec Yizheng Chemical Fibre Co. Ltd. - H Shares(b)		77,870
	200,400	Sinopharm Group Co. Ltd. - H Shares		527,304
	1,009,000	Sinotrans Ltd. - H Shares		557,016
	413,500	Sinotruk Hong Kong Ltd.		219,205
	111,000	SITC International Holdings Co. Ltd.		48,965
	1,600,500	SOHO China Ltd.		1,273,720
	170,000	Springland International Holdings Ltd.		66,878
	140,000	SPT Energy Group, Inc.		76,023
	812,000	Sunac China Holdings Ltd.		412,653
	194,000	Sunny Optical Technology Group Co. Ltd.		226,706
	238,000	TCL Communication Technology Holdings Ltd.(b)		253,872
	88,000	Tian Shan Development Holdings Ltd.		34,279
	554,000	Tiangong International Co. Ltd.(c)		96,467

Shares			Value
CHINA (continued)
	804,000	Tong Ren Tang Technologies Co. Ltd. - H Shares	$	2,317,750
	15,200	Tonly Electronics Holdings Ltd.		11,567
	165,500	Travelsky Technology Ltd. - H Shares		126,159
	110,000	Trigiant Group Ltd.		34,335
	201,000	Trony Solar Holdings Co. Ltd.(b)(c)(d)		3,059
	262,000	Uni-President China Holdings Ltd.		216,955
	132,000	Weichai Power Co. Ltd. - H Shares		459,696
	319,000	Weiqiao Textile Co. - H Shares		177,749
	1,510,000	West China Cement Ltd.		163,602
	384,000	Winsway Coking Coal Holding Ltd.(b)		17,335
	135,000	Wumart Stores, Inc. - H Shares		132,511
	626,000	Xiamen International Port Co. Ltd. - H Shares		92,855
	3,993,000	Xingda International Holdings Ltd.		1,756,251
	159,000	Xinhua Winshare Publishing and Media Co. Ltd. - H Shares		100,696
	151,200	Xinjiang Goldwind Science & Technology Co. Ltd. - H Shares		164,209
	433,000	Xinjiang Xinxin Mining Industry Co. Ltd. - H Shares(b)		78,190
	838,000	Xinyi Solar Holdings Ltd.(b)		224,823
	142,000	Xiwang Property Holdings Co. Ltd.		7,052
	283,000	Xiwang Special Steel Co. Ltd.		34,312
	81,000	Yantai North Andre Juice Co. - H Shares		20,164
	1,066,000	Yanzhou Coal Mining Co. Ltd. - H Shares		802,977
	648,760	Yuzhou Properties Co. Ltd.		149,786
	166,000	Zall Development Group Ltd.		57,810
	434,500	Zhaojin Mining Industry Co. Ltd. - H Shares		260,601
	96,000	Zhejiang Expressway Co. Ltd. - H Shares		83,086
	40,000	Zhejiang Glass Co. Ltd. - H Shares(b)(c)(d)		0
	46,400	Zhengzhou Coal Mining Machinery Group Co. Ltd. - H Shares		25,256
	525,000	Zhong An Real Estate Ltd.(b)		124,598
	131,500	Zhongsheng Group Holdings Ltd.		159,775
	67,000	Zhuzhou CSR Times Electric Co. Ltd. - H Shares		196,603
	1,318,000	Zijin Mining Group Co., Ltd.		321,300
	740,600	Zoomlion Heavy Industry Science and Technology Co. Ltd. - H Shares		493,864

Shares			Value
CHINA (continued)
	100,000	ZTE Corp. - H Shares(b)	$	204,051
				86,356,556
COLUMBIA — 0.0%
	152,173	Pacific Rubiales Energy Corp.		2,483,805
CYPRUS — 0.0%
	279,720	Bank of Cyprus Public Co. Ltd.(b)(c)(d)		0
	37,338	Deep Sea Supply Plc(b)		55,590
	71,521	ProSafe SE		629,266
	87,837	Songa Offshore(b)		36,203
				721,059
DENMARK — 0.7%
	2,314	ALK-Abello A/S		320,433
	57,902	Alm Brand A/S(b)		280,900
	8,231	Amagerbanken A/S(b)(c)(d)		0
	862	Ambu A/S - Class B		57,600
	6,801	Auriga Industries A/S - Class B(b)		251,561
	18,742	Bang & Olufsen A/S(b)		193,342
	10,357	Bavarian Nordic A/S(b)		219,461
	1,079	Brodrene Hartmann A/S		38,708
	561,699	Chr. Hansen Holding A/S		25,318,217
	17,171	D/S Norden A/S		686,202
	3,394	DFDS A/S		268,113
	48,608	DSV A/S		1,621,772
	1,987	East Asiatic Co. Ltd. A/S		26,407
	21,341	FLSmidth & Co. A/S		1,140,434
	81,337	GN Store Nord A/S		1,962,369
	4,777	Greentech Energy Systems AS(b)		10,833
	18,588	H. Lundbeck A/S		542,438
	3,538	H+H International A/S - Class B(b)		30,711
	519	IC Companys A/S		15,483
	37,222	Jyske Bank A/S(b)		2,044,443
	18,842	NKT Holding A/S		1,187,256
	70	Nordjyske Bank A/S		1,509
	250	Norresundby Bank A/S		12,337
	6,068	Pandora A/S		408,180
	3,031	Parken Sport & Entertainment A/S(b)		40,282
	1,113	PER Aarsleff A/S - Class B		201,705
	1,788	Ringkjoebing Landbobank A/S		409,113
	3,450	Rockwool International A/S - Class B		664,991
	1,853	Royal UNIBREW		288,283
	9,377	Schouw & Co.		522,881
	16,820	SimCorp AS		644,037
	2,457	Solar A/S - Class B		169,889
	23,971	Spar Nord Bank A/S		269,562
	44,562	Sydbank A/S(b)		1,187,768
	33	Tivoli A/S		18,647
	39,109	TK Development A/S(b)		67,241
	37,860	Topdanmark AS(b)		1,106,948

Shares			Value
DENMARK (continued)
	33,402	TopoTarget A/S(b)	$	22,475
	4,331	Tryg A/S		411,364
	130,586	Vestas Wind Systems A/S(b)		5,796,271
	4,754	William Demant Holding A/S(b)		425,651
				48,885,817
FAEROE ISLANDS — 0.0%
	110	Atlantic Petroleum(b)		1,963
	7,482	Bakkafrost		117,058
	876	BankNordik		19,051
				138,072
FINLAND — 0.5%
	7,357	Ahlstrom Oyj		78,388
	872	Aktia Bank Oyj		10,912
	39,132	Amer Sports Oyj		807,830
	920	Apetit Oyj		24,621
	1,770	Aspo Oyj		14,660
	2,875	Atria Plc		28,399
	999	Bank of Aland Plc - Class B		12,196
	1,446	BasWare Oyj		68,268
	18,521	Biotie Therapies Oyj(b)		5,910
	15,775	Cargotec Oyj - Class B		703,835
	93,678	Caverion Corp.		1,034,513
	93,179	Citycon Oyj		349,033
	2,317	Comptel Oyj		1,864
	4,120	Cramo Oyj		91,740
	7,193	Digia Plc		40,416
	1,089	Elektrobit Oyj		3,973
	26,571	Elisa Oyj		793,665
	10,761	Finnair Oyj(b)		44,937
	4,202	Finnlines Oyj(b)		45,588
	12,672	Fiskars Oyj Abp		343,874
	31,761	F-Secure Oyj		107,074
	13,263	HKScan Oyj - A Shares		70,289
	40,603	Huhtamaki Oyj		1,066,336
	23,392	Kemira Oyj		356,981
	2,280	Kesko Oyj - Class A		90,972
	31,775	Kesko Oyj - Class B		1,297,802
	15,462	Konecranes Oyj		498,311
	5,863	Lassila & Tikanoja Oyj		114,283
	1,266	Lemminkainen Oyj(b)		24,502
	75,818	Metsa Board Oyj		354,476
	67,391	Metso Oyj		2,700,128
	65,448	Neste Oil Oyj		1,343,827
	52,206	Nokian Renkaat Oyj		2,072,885
	10,195	Okmetic Oyj		65,204
	5,138	Olvi Oyj - Class A		173,215
	27,673	Oriola-KD Oyj - Class B(b)		91,757
	10,430	Orion Oyj - Class A		319,788
	18,446	Orion Oyj - Class B		562,234
	363,000	Outokumpu Oyj(b)		110,794
	20,275	Outotec Oyj		226,575
	13,413	PKC Group Oyj		444,557
	766	Ponsse Oyj		11,732

Shares			Value
FINLAND (continued)
	4,495	Poyry Oyj(b)	$	24,945
	43,685	Raisio Plc - V Shares		285,456
	26,580	Ramirent Oyj		297,218
	6,650	Rapala VMC Oyj		47,513
	85,675	Rautaruukki Oyj(b)		1,064,994
	722	Saga Furs Oyj		28,497
	51,948	Sanoma Oyj		349,251
	740	Sievi Capital Plc		1,478
	1,969	SRV Group Plc		10,408
	13,081	Stockmann Oyj Abp - Class B		185,653
	319,193	Stora Enso Oyj - Class R		3,252,598
	163,338	Talvivaara Mining Co. Plc(b)		19,148
	5,454	Technopolis Oyj		33,142
	675	Teleste Oyj		4,120
	15,464	Tieto Oyj		422,428
	16,032	Tikkurila Oyj		397,686
	307,226	UPM-Kymmene Oyj		5,370,488
	7,802	Uponor Oyj		154,460
	6,352	Vacon Oyj		263,844
	3,684	Vaisala Oyj - Class A		119,750
	67,391	Valmet Corp.		781,616
	70,509	Wartsila Oyj Abp		3,926,514
	93,678	YIT Oyj		961,733
				34,611,284
FRANCE — 2.3%
	3,657	ABC Arbitrage		26,027
	24,037	Accor SA		1,175,172
	542	Affine SA REIT		11,332
	61,626	Air France-KLM(b)		886,173
	1,491	Akka Technologies SA		53,989
	8,994	ALBIOMA		250,804
	1,039,619	Alcatel-Lucent(b)		4,156,745
	5,620	Altamir		85,142
	9,534	Alten SA		486,554
	60,387	Altran Technologies SA		657,404
	786	ANF Immobilier REIT		26,389
	4,889	April		116,867
	34,890	Arkema SA		3,890,274
	4,828	Assystem		155,128
	14,860	AtoS		1,282,933
	1,151	Aurea SA		8,447
	653	Axway Software SA		22,558
	10,625	Beneteau SA(b)		183,889
	2,529	Bigben Interactive(b)		26,244
	3,331	BioMerieux		363,739
	132,613	Boiron SA(d)		11,182,323
	2,516	Bollore SA		1,603,217
	13	Bollore SA(b)		8,026
	11,728	Bonduelle SCA		340,060
	2,288	Bongrain SA		199,978
	22,662	Bourbon SA		746,387
	267	Boursorama(b)		4,493
	25,330	Bull(b)		134,241
	114	Burelle SA		122,936
	1,101	Cegedim SA(b)		40,478

Shares			Value
FRANCE (continued)
	2,386	Cegid Group	$	100,001
	124,773	CGG SA(b)		2,156,870
	90	Cie des Alpes(b)		2,023
	2,926	Ciments Francais SA		314,602
	10,437	Club Mediterranee SA(b)		272,219
	19,052	Derichebourg SA		74,009
	126	Devoteam SA		3,216
	22,092	Edenred		745,084
	19,508	Eiffage SA		1,473,655
	494	Electricite de Strasbourg		77,890
	1,806	Eramet		235,497
	373	Esso SA Francaise		20,440
	49,702	Etablissements Maurel et Prom		886,058
	42,035	Euler Hermes SA		5,070,676
	39,008	Eutelsat Communications SA		1,338,329
	1,226	Exel Industries SA - Class A		107,887
	1,903	Faiveley Transport SA		156,823
	16,125	Faurecia(b)		724,708
	1,000	Fimalac		85,183
	539	Fleury Michon SA		46,437
	11,234	GameLoft SA(b)		111,748
	202	Gaumont SA		11,128
	195,278	Gaztransport Et Technigaz SA(b)		13,529,666
	1,559	Gecina SA REIT		209,907
	2,835	GL Events		71,308
	257	Groupe Crit		16,972
	152,389	Groupe Eurotunnel SA		2,044,186
	922	Groupe Flo		4,183
	17,014	Groupe Steria SCA		479,404
	1,572	Guerbet		74,587
	8,241	Haulotte Group SA(b)		157,206
	46,382	Havas SA		368,714
	9,212	Hi-Media SA(b)		26,711
	9,817	ICADE REIT		1,001,040
	15,635	Imerys SA		1,372,401
	116,530	Ingenico		10,160,808
	1,513	Interparfums SA		69,164
	7,311	Ipsen SA		324,370
	10,287	IPSOS		398,750
	6,240	Jacquet Metal Service		133,795
	27,960	JCDecaux SA		1,146,251
	31,494	Klepierre REIT		1,443,839
	323,043	Korian-Medica(d)		12,136,521
	33,822	Lagardere SCA		1,415,897
	936	Laurent-Perrier		93,626
	1,354	Lectra		14,276
	21,285	LISI(d)		3,454,974
	735	Maisons France Confort		35,944
	2,524	Manitou BF SA		47,728
	467	Manutan International		35,634
	4,277	Mersen		136,771
	2,556	METabolic EXplorer SA(b)		9,539
	14,499	Metropole Television SA		310,578
	424	MGI Coutier		81,935
	3,180	Montupet		262,897

Shares			Value
FRANCE (continued)
	1,975	Mr Bricolage	$	39,758
	1,519	Naturex		133,313
	151,511	Neopost SA		12,414,317
	144,372	Nexans SA		8,120,925
	10,353	Nexity SA		463,932
	1,407	Norbert Dentressangle SA		241,267
	7,604	NRJ Group(b)		93,890
	8,658	Orpea		629,170
	1,855	Parrot SA(b)		56,746
	75,651	Peugeot SA(b)		1,338,691
	1,519	Pierre & Vacances SA(b)		64,085
	29,736	Plastic Omnium SA		1,010,727
	439	PSB Industries SA		25,884
	14,949	Rallye SA		760,101
	5,662	Remy Cointreau SA		497,939
	97,230	Rexel SA		2,455,031
	188,409	Rubis SCA(d)		13,404,014
	8,266	Saft Groupe SA		293,920
	1,023	Sartorius Stedim Biotech		194,438
	6,172	Schneider Electric SA(b)		578,411
	135,370	SCOR SE		4,940,216
	7,341	SEB SA		676,456
	276	Seche Environnement SA		12,219
	7,940	Societe BIC SA		1,052,865
	7,186	Societe d’Edition de Canal +		63,107
	696	Societe Internationale de Plantations d’Heveas SA		44,900
	41,718	Societe Television Francaise 1		708,998
	30,878	SOITEC(b)		93,816
	19,387	Solocal Group(b)		44,379
	724	Somfy SA		251,562
	1,699	Sopra Group SA		196,229
	462	Stallergenes SA		36,560
	2,498	Ste Industrielle d’Aviation Latecoere SA(b)		46,092
	1,492	Stef SA		117,986
	28,979	Suez Environnement Co.		568,886
	1,654	Sword Group		43,415
	1,560	Synergie SA		45,211
	54,918	Technicolor SA(b)		409,752
	17,738	Teleperformance SA		1,016,096
	155	Tessi SA		19,358
	16,096	Theolia SA(b)		27,244
	82	Thermador Groupe		9,077
	451	Touax SA		12,451
	2,866	Trigano SA(b)		79,364
	47,222	UBISOFT Entertainment(b)		879,844
	34,483	Valeo SA		4,723,712
	55,375	Vallourec SA		3,273,102
	2,243	Valneva SE(b)		18,733
	3,188	Valneva SE - Preference Shares(b)		2,654
	41,456	Veolia Environnement SA		772,986
	602	Vetoquinol SA		32,823
	4,987	Vicat		432,765
	1,404	VIEL & Cie SA		4,636

Shares			Value
FRANCE (continued)
	1,241	Vilmorin & Cie SA	$	163,733
	1,445	Virbac SA		346,315
	107	VM Materiaux SA(b)		5,322
	748	Vranken - Pommery Monopole SA		26,369
	58,065	Zodiac Aerospace		1,929,727
				159,277,533
GABON — 0.0%
	55	Total Gabon		33,460
GEORGIA — 0.0%
	7,118	Bank of Georgia Holdings Plc		312,828
GERMANY — 2.8%
	30,393	Aareal Bank AG(b)		1,377,763
	879	Adler Modemaerkte AG		14,146
	37,576	ADVA Optical Networking SE(b)		168,487
	10,093	Air Berlin Plc(b)		24,336
	17,687	Aixtron SE(b)		280,838
	2,408	Allgeier SE		57,628
	5,308	Alstria Office REIT AG		73,235
	920	Amadeus Fire AG		80,028
	640	AS Creation Tapeten AG		29,057
	17,899	Aurubis AG		953,554
	18,722	Axel Springer SE		1,142,852
	8,917	Balda AG		41,517
	5,664	Bauer AG		147,218
	8,974	BayWa AG		508,336
	44	BayWa AG		2,513
	10,613	Bechtle AG		942,478
	1,967	Bertrandt AG		297,588
	594	Bijou Brigitte AG		57,810
	155,898	Bilfinger SE		18,520,457
	1,210	Biotest AG		149,068
	33,317	Borussia Dortmund GmbH & Co. KGaA		173,703
	9,809	Brenntag AG		1,773,867
	4,102	CANCOM SE		180,145
	8,816	Carl Zeiss Meditec AG		268,161
	42,074	Celesio AG		1,458,698
	2,761	CENIT AG		45,583
	8,279	CENTROTEC Sustainable AG		211,627
	3,390	Cewe Stiftung & Co. KGaA		267,042
	17,476	Comdirect Bank AG		203,369
	4,378	CompuGroup Medical AG		116,678
	7,207	Constantin Medien AG(b)		14,738
	9,256	CropEnergies AG		60,726
	6,999	CTS Eventim AG		445,691
	3,708	DAB Bank AG		20,073
	419	Delticom AG		19,880
	3,806	Deutsche Beteiligungs AG		102,437
	141,598	Deutsche Lufthansa AG(b)		3,551,737
	23,403	Deutsche Wohnen AG		501,470
	52,450	Deutz AG(b)		437,399
	20,474	Dialog Semiconductor Plc(b)		517,389

Shares			Value
GERMANY (continued)
	41,937	DMG MORI SEIKI AG	$	1,316,640
	2,601	Dr Hoenle AG		50,699
	1,246	Draegerwerk AG & Co. KGaA		127,798
	17,862	Drillisch AG		665,117
	108,206	Duerr AG		8,487,596
	1,652	Eckert & Ziegler AG		57,343
	9,177	Elmos Semiconductor AG		184,482
	217,885	ElringKlinger AG(d)		8,770,718
	4,231	Euromicron AG		77,512
	42,200	Evotec AG(b)		210,297
	77,098	Fielmann AG(d)		10,420,210
	2,910	First Sensor AG(b)		43,480
	31,432	Fraport AG Frankfurt Airport Services Worldwide		2,319,462
	51,919	Freenet AG		1,794,620
	5,957	Fuchs Petrolub SE		545,370
	89,581	GEA Group AG		4,007,408
	8,561	Gerresheimer AG		580,374
	7,035	Gerry Weber International AG		370,880
	2,345	Gesco AG		244,000
	108,749	GFK SE(d)		5,612,462
	5,545	GFT Technologies AG		66,097
	7,475	Grammer AG		411,706
	3,340	Grenkeleasing AG		349,384
	3,477	H&R AG(b)		34,490
	4,973	Hamborner AG REIT		54,504
	7,117	Hamburger Hafen und Logistik AG		172,297
	31,169	Hannover Rueck SE		2,901,986
	656	Hansa Group AG(b)		1,210
	1,410	Hawesko Holding AG		78,286
	139,416	Heidelberger Druckmaschinen AG(b)		440,220
	24,960	Hochtief AG		2,319,743
	4,021	Homag Group AG		117,288
	125	Hornbach Baumarkt AG		5,236
	6,478	Hugo Boss AG		898,724
	12,049	Indus Holding AG		562,331
	502	Init Innovation In Traffic Systems AG		15,346
	2,380	Isra Vision AG		176,585
	17,344	Jenoptik AG		288,866
	93,500	K+S AG		3,269,517
	75,344	Kloeckner & Co. SE(b)		1,139,358
	4,129	Koenig & Bauer AG		68,826
	12,081	Kontron AG		84,155
	6,898	Krones AG		659,176
	210	KSB AG(d)		140,427
	5,201	KUKA AG		265,895
	1,128	KWS Saat AG		399,448
	61,859	Lanxess AG		4,702,932
	798	Leifheit AG		42,956
	26,280	Leoni AG		1,948,031
	4,388	LPKF Laser & Electronics AG		98,255
	1,101	Manz AG(b)		98,690
	1,288	Medigene AG(b)		8,658

Shares			Value
GERMANY (continued)
	5,699	MLP AG	$	38,742
	408	Mobotix AG		8,038
	4,206	Morphosys AG(b)		360,148
	222,654	MTU Aero Engines AG		20,952,582
	384	Muehlbauer Holding AG & Co. KGaA		10,149
	3,842	MVV Energie AG		122,434
	1,551	Nemetschek AG		128,891
	2,244	Nexus AG		34,775
	16,879	Nordex SE(b)		268,945
	307,941	NORMA Group SE(d)		16,089,148
	1,021	OHB AG		28,811
	42,750	OSRAM Licht AG(b)		2,237,732
	23,168	Patrizia Immobilien AG(b)		273,529
	1,728	Pfeiffer Vacuum Technology AG		205,572
	19,644	PNE Wind AG		75,464
	686	Progress-Werk Oberkirch AG		54,410
	669	PSI AG Gesellschaft Fuer Produkte und Systeme der Informationstechnologie		12,112
	1,474	Puma SE		435,165
	1,608	PVA TePla AG		7,005
	75,197	QSC AG		386,104
	870	R Stahl AG		51,659
	19,441	Rational AG(d)		6,203,427
	42,668	Rheinmetall AG		2,831,017
	64,835	Rhoen Klinikum AG		2,092,656
	23,068	SAF-Holland SA		344,516
	10,650	Salzgitter AG		451,162
	819	Schaltbau Holding AG		58,221
	22,076	SGL Carbon SE		735,050
	581	SHW AG		34,890
	5,403	Singulus Technologies AG(b)		17,600
	14,802	Sixt SE		586,310
	840	SKW Stahl-Metallurgie Holding AG		12,586
	1,998	SMA Solar Technology AG		83,560
	1,942	SMT Scharf AG		47,863
	19,351	Software AG		727,408
	32,958	Stada Arzneimittel AG		1,436,654
	11,191	Stroeer Media AG(b)		192,520
	66,797	Suedzucker AG		1,423,421
	1,266	Surteco SE		49,881
	21,586	Suss Microtec AG(b)		209,511
	483,853	Symrise AG(d)		24,417,526
	30,278	TAG Immobilien AG		384,482
	9,742	Takkt AG		197,327
	24,745	Talanx AG(b)		945,961
	1,332	Technotrans AG		15,013
	141,089	Telefonica Deutschland Holding AG		1,171,892
	1,753	Telegate AG		13,756
	9,954	Tom Tailor Holding AG(b)		193,335
	4,964	Tomorrow Focus AG		28,580
	88,615	TUI AG		1,472,204

Shares			Value
GERMANY (continued)
	34,543	United Internet AG	$	1,486,192
	1,887	Vossloh AG		186,265
	6,164	VTG AG		136,142
	9,072	Wacker Chemie AG		1,064,022
	17,355	Wacker Neuson SE		329,499
	62	Washtec AG		1,062
	6,088	Wincor Nixdorf AG		397,646
	166	XING AG		21,220
				194,728,205
GIBRALTAR — 0.0%
	23,380	888 Holdings Plc		57,870
	166,811	Bwin.Party Digital Entertainment Plc		358,249
				416,119
GREECE — 0.0%
	811	Aegean Airlines SA(b)		8,382
	96	Alapis Holding Industrial and Commercial SA of Pharmaceutical Chemical Products(b)(c)(d)		0
	1,098	Astir Palace Hotel SA(b)		5,941
	2,153	Athens Water Supply & Sewage Co. SA (The)		27,779
	4,816	Bank of Greece		99,287
	57,616	Ellaktor SA(b)		303,747
	3,480	Folli Follie SA(b)		120,699
	1,820	Fourlis Holdings SA(b)		14,670
	10,782	Frigoglass SA(b)		62,376
	17,301	GEK Terna Holding Real Estate Construction SA(b)		90,249
	12,545	Hellenic Exchanges - Athens Stock Exchange SA Holding		147,588
	28,693	Hellenic Petroleum SA		245,610
	52,196	Intracom Holdings SA(b)		58,945
	31,091	Intralot SA-Integrated Lottery Systems & Services		90,150
	14,515	JUMBO SA(b)		234,600
	2,599	Lamda Development SA(b)		21,634
	6,590	Metka SA		117,940
	5,531	Motor Oil (Hellas) Corinth Refineries SA		69,675
	26,955	Mytilineos Holdings SA(b)		240,456
	7,501	OPAP SA		119,675
	618	Piraeus Port Authority		16,033
	22,848	Proton Bank SA(b)(c)(d)		0
	7,731	Public Power Corp. SA		116,802
	5,302	Sarantis SA		52,226
	12,534	T Bank SA(b)(c)(d)		0
	6,226	Terna Energy SA		37,142
	647	Thessaloniki Port Authority SA		22,503
	5,902	Titan Cement Co. SA(b)		185,870
	31,091	TT Hellenic Postbank SA(b)(c)(d)		0
				2,509,979

Shares			Value
GUERNSEY — 0.1%
	19,704	Raven Russia Ltd.(b)	$	21,624
	934,100	Resolution Ltd.		4,704,567
	86,000	Tethys Petroleum Ltd.(b)		39,232
				4,765,423
HONG KONG — 1.3%
	554,000	361 Degrees International Ltd.		127,193
	66,000	Ajisen China Holdings Ltd.		55,589
	44,000	Allan International Holdings Ltd.		12,486
	30,000	Allied Group Ltd.		131,563
	1,473,693	Allied Properties HK Ltd.		258,511
	4,173,000	AMVIG Holdings Ltd.(d)		1,517,856
	1,312,000	Anxin-China Holdings Ltd.		206,456
	121,500	APT Satellite Holdings Ltd.		152,327
	144,000	Asia Financial Holdings Ltd.(d)		58,135
	58,000	Asia Satellite Telecommunications Holdings Ltd.		231,164
	421,877	Asia Standard International Group Ltd.		106,109
	174,000	Asian Citrus Holdings Ltd.		36,133
	423,500	ASM Pacific Technology Ltd.		4,708,621
	80,000	Associated International Hotels Ltd.(d)		213,080
	820,000	AVIC International Holding HK Ltd.(b)		26,970
	84,000	Beijing Enterprises Holdings Ltd.		730,251
	1,217,000	Beijing Enterprises Water Group Ltd.		772,305
	504,000	Bel Global Resources Holdings Ltd.(b)(c)(d)		0
	144,000	Bonjour Holdings Ltd.		24,703
	1,392,000	Bosideng International Holdings Ltd.		204,681
	218,000	Bossini International Holdings Ltd.		18,277
	158,000	Brightoil Petroleum Holdings Ltd.(b)		48,707
	56,897	Brilliant Circle Holdings International Ltd.		11,155
	1,864,354	Brockman Mining Ltd.(b)(d)		94,986
	765,791	C C Land Holdings Ltd.		145,198
	106,000	Cafe de Coral Holdings Ltd.		332,918
	174,000	Carrianna Group Holdings Co. Ltd.		35,011
	718,800	Century City International Holdings Ltd.		52,846
	1,604,275	Champion Technology Holdings Ltd.		37,246
	276,560	Chaoda Modern Agriculture Holdings Ltd.(b)(d)		22,124
	84,000	Chen Hsong Holdings		25,245
	119,243	Cheuk Nang Holdings Ltd.		109,662
	114,000	Cheung Wo International Holdings Ltd.(b)		9,117
	80,000	Chevalier International Holdings Ltd.		130,015

Shares			Value
HONG KONG (continued)
	2,844,000	Chigo Holding Ltd.(b)	$	64,562
	1,214,000	China Aerospace International Holdings Ltd.		120,571
	1,145,137	China Agri-Industries Holdings Ltd.		457,881
	136,000	China All Access Holdings Ltd.		56,133
	2,392,000	China Billion Resources Ltd.(b)(c)(d)		0
	1,242,000	China Daye Non-Ferrous Metals Mining Ltd.(b)		19,704
	120,000	China Electronics Corp. Holdings Co. Ltd.		23,991
	746,000	China Energine International Holdings Ltd.(b)		65,431
	110,000	China Energy Development Holdings Ltd.(b)		1,490
	480,000	China Environmental Investment Holdings Ltd.(b)		10,587
	731,000	China Everbright International Ltd.		916,467
	344,000	China Everbright Ltd.		459,675
	232,000	China Fiber Optic Network System Group Ltd.		54,462
	140,000	China Financial Services Holdings Ltd.		11,557
	76,936	China Flavors & Fragrances Co. Ltd.(b)		11,710
	188,000	China Foods Ltd.(b)		63,532
	618,000	China Glass Holdings Ltd.(b)		73,335
	159,000	China Green Holdings Ltd.(b)		10,049
	872,000	China Haidian Holdings Ltd.(b)		111,349
	6,603,000	China High Precision Automation Group Ltd.(b)(c)(d)		1,039,044
	790,000	China High Speed Transmission Equipment Group Co. Ltd.(b)		550,242
	870,000	China Household Holdings Ltd.(b)(c)(d)		25,248
	12,236,000	China Lumena New Materials Corp.(c)(d)		1,972,797
	165,475	China Merchants Holdings International Co. Ltd.		517,580
	216,000	China Metal International Holdings, Inc.		72,994
	193,200	China Metal Recycling Holdings Ltd.(b)(c)(d)		44,058
	632,557	China New Town Development Co. Ltd.(b)		47,322
	740,000	China Nickel Resources Holding Co. Ltd.(b)(c)(d)		24,339
	40,460	China Ocean Resources Co. Ltd.(b)		92,800
	1,060,000	China Oil and Gas Group Ltd.		175,004
	372,500	China Overseas Grand Oceans Group Ltd.		221,013
	460,000	China Power International Development Ltd.		165,537

Shares			Value
HONG KONG (continued)
	600,000	China Power New Energy Development Co. Ltd.(b)	$	31,730
	2,016,000	China Precious Metal Resources Holdings Co. Ltd.(b)		202,823
	353,000	China Properties Group Ltd.(b)		79,224
	698,440	China Resources Cement Holdings Ltd.		484,668
	396,000	China Resources Enterprise Ltd.		1,126,255
	180,800	China Resources Gas Group Ltd.		535,198
	2,173,600	China Singyes Solar Technologies Holdings Ltd.		3,179,257
	1,230,000	China South City Holdings Ltd.		514,024
	2,500,000	China Star Entertainment Ltd.		40,952
	535,000	China Starch Holdings Ltd.		13,732
	275,440	China State Construction International Holdings Ltd.		459,721
	970,000	China Strategic Holdings Ltd.(b)		20,519
	136,400	China Taiping Insurance Holdings Co. Ltd.(b)		216,398
	8,000	China Tianyi Holdings Ltd.		1,073
	126,000	China Traditional Chinese Medical Co. Ltd.(b)		53,144
	1,162,000	China Travel International Investment Hong Kong Ltd.		233,810
	553,000	China Vanadium Titano - Magnetite Mining Co. Ltd.(b)		67,761
	86,000	China Water Affairs Group Ltd.		28,952
	2,340,000	China WindPower Group Ltd.(b)		153,929
	28,758	Chong Hing Bank Ltd.(c)(d)		100,522
	99,000	Chow Sang Sang Holdings International Ltd.		242,873
	198,000	Chu Kong Shipping Enterprise Group Co. Ltd.		45,970
	64,000	Chuang’s China Investments Ltd.		4,086
	413,500	Chuang’s Consortium International Ltd.		50,134
	114,000	CIMC Enric Holdings Ltd.		164,980
	548,000	CITIC Pacific Ltd.		961,286
	1,555,000	CITIC Resources Holdings Ltd.(b)		224,637
	678,000	CITIC Telecom International Holdings Ltd.		234,368
	1,018,000	CK Life Sciences International Holdings, Inc.		102,418
	68,000	Clear Media Ltd.		67,974
	177,000	Coastal Greenland Ltd.(b)		5,502
	151,387	Comba Telecom Systems Holdings Ltd.(b)		38,662
	8,000	Convenience Retail Asia Ltd.		5,376
	156,000	Cosco International Holdings Ltd.		64,992
	475,130	COSCO Pacific Ltd.		636,126
	94,000	Cosmos Machinery Enterprises Ltd.(b)		6,183

Shares			Value
HONG KONG (continued)
	1,010,000	CP Lotus Corp.(b)	$	24,752
	1,238,000	CP Pokphand Co. Ltd.		137,326
	42,000	Cross-Harbour Holdings Ltd.		34,996
	2,759,335	CSI Properties Ltd.		96,095
	424,000	CSPC Pharmaceutical Group Ltd.		352,743
	4,648,000	CST Mining Group Ltd.(b)		30,575
	85,000	Culturecom Holdings Ltd.(b)		11,621
	556,000	Dah Chong Hong Holdings Ltd.		353,553
	278,924	Dah Sing Banking Group Ltd.		418,047
	101,078	Dah Sing Financial Holdings Ltd.		450,441
	270,000	Dan Form Holdings Co. Ltd.		24,378
	132,000	Dawnrays Pharmaceutical Holdings Ltd.		99,941
	244,000	DBA Telecommunication Asia Holdings Ltd.(b)(c)(d)		11,991
	160,550	Dickson Concepts International Ltd.		96,708
	275,000	Digital China Holdings Ltd.		254,323
	35,000	Dingyi Group Investment Ltd.(b)		2,189
	256,000	DMX Technologies Group Ltd.		40,839
	295,000	Dorsett Hospitality International Ltd.		52,509
	108,000	Dynasty Fine Wines Group Ltd.(b)(c)(d)		3,761
	236,000	EcoGreen Fine Chemicals Group Ltd.		54,488
	168,234	EganaGoldpfeil Holdings Ltd.(b)(c)(d)		0
	62,000	Embry Holdings Ltd.		36,226
	264,000	Emperor Capital Group Ltd.		13,450
	325,000	Emperor Entertainment Hotel Ltd.		141,269
	796,416	Emperor International Holdings Ltd.		178,740
	43,230,000	Emperor Watch & Jewellery Ltd.(d)		3,234,046
	580,000	EPI Holdings Ltd.(b)		14,438
	789,100	Esprit Holdings Ltd.		1,310,934
	504,000	eSun Holdings Ltd.(b)		58,507
	452,000	EVA Precision Industrial Holdings Ltd.		75,791
	352,500	EverChina International Holdings Co. Ltd.(b)		15,686
	9,500	Fairwood Holdings Ltd.		19,409
	550,487	Far East Consortium International Ltd.		198,100
	1,290,000	First Pacific Co. Ltd.		1,429,275
	402,982	Fortune Oil Plc		88,451
	452,000	Fountain SET Holdings Ltd.(b)		54,219
	2,496,000	Franshion Properties China Ltd.		785,538
	78,000	Future Bright Holdings Ltd.		37,325
	1,492,000	GCL-Poly Energy Holdings Ltd.(b)		446,467

Shares			Value
HONG KONG (continued)
	1,435,000	Geely Automobile Holdings Ltd.	$	497,894
	498,000	Genting Hong Kong Ltd.(b)(d)		198,482
	1,358,000	Get Nice Holdings Ltd.		61,306
	456,000	Giordano International Ltd.		306,433
	1,383,200	Global Bio-Chem Technology Group Co. Ltd.(b)		47,279
	128,000	Global Sweeteners Holdings Ltd.(b)		7,099
	1,757,000	Glorious Property Holdings Ltd.(b)		251,552
	122,000	Glorious Sun Enterprises Ltd.		26,751
	220,000	Gold Peak Industries Holding Ltd.		19,012
	220,000	Goldbond Group Holdings Ltd.		10,641
	1,302,175	Golden Meditech Holdings Ltd.		112,532
	140,000	Goldin Properties Holdings Ltd.(b)		63,382
	98,000	Goldlion Holdings Ltd.		44,873
	16,000	Good Friend International Holdings, Inc.		5,097
	219,960	Great Eagle Holdings Ltd.		787,299
	14,340,000	G-Resources Group Ltd.(b)		393,969
	584,000	Guangdong Investment Ltd.		635,000
	206,666	Guangdong Land Holdings Ltd.		40,784
	184,000	Guangnan Holdings Ltd.		23,970
	7,000	Guoco Group Ltd.		83,923
	216,000	Guotai Junan International Holdings Ltd.		111,163
	172,000	Haier Electronics Group Co. Ltd.		422,404
	226,738	Haitong International Securities Group Ltd.		113,765
	3,316,000	Hanergy Solar Group Ltd.(b)		474,756
	1,232,000	Hao Tian Development Group Ltd.(b)		19,228
	114,000	Harbour Centre Development Ltd.(d)		199,681
	2,439,359	Heng Tai Consumables Group Ltd.(b)		44,678
	953,400	Hengdeli Holdings Ltd.		183,229
	213,000	Hi Sun Technology (China) Ltd.(b)		45,606
	2,008,035	HKC Holdings Ltd.(b)		54,391
	365,200	HKR International Ltd.		149,793
	186,000	Hon Kwok Land Investment Co. Ltd.		61,896
	5,200	Hong Kong Aircraft Engineering Co. Ltd.		60,431
	50,000	Hong Kong Ferry (Holdings) Co. Ltd.		48,691
	227,000	Hong Kong Television Network Ltd.(b)		64,707
	316,651	Hongkong & Shanghai Hotels (The)		463,156
	727,700	Hongkong Chinese Ltd.		177,397
	102,500	Hopewell Highway Infrastructure Ltd.		49,975

Shares			Value
HONG KONG (continued)
	304,000	Hopewell Holdings Ltd.	$	1,046,931
	400,000	Hopson Development Holdings Ltd.(b)		391,077
	376,000	Hsin Chong Construction Group Ltd.		51,893
	473,280	Hua Han Bio-Pharmaceutical Holdings Ltd.		98,893
	487,000	Huabao International Holdings Ltd.		230,530
	259,631	Hung Hing Printing Group Ltd.		40,855
	1,402,000	Hutchison Harbour Ring Ltd.		106,692
	1,441,000	Hutchison Telecommunications Hong Kong Holdings Ltd.		472,096
	47,000	Hysan Development Co. Ltd.		200,962
	2,136,000	Imagi International Holdings Ltd.(b)		23,969
	199,000	Inspur International Ltd.		34,907
	598,000	Integrated Waste Solutions Group Holdings Ltd.(b)		36,251
	1,446,250	International Standard Resources Holdings Ltd.(b)		23,504
	144,000	IRC Ltd.(b)		13,930
	398,000	IT Ltd.		107,804
	99,000	ITC Properties Group Ltd.		44,182
	134,000	Jinhui Holdings Co. Ltd.(b)		29,382
	842,500	Johnson Electric Holdings Ltd.		805,232
	454,000	Ju Teng International Holdings Ltd.		335,539
	666,881	K Wah International Holdings Ltd.		442,985
	1,940,000	Kai Yuan Holdings Ltd.(b)		36,033
	1,500,000	Kantone Holdings Ltd.		19,734
	42,000	Keck Seng Investments		34,129
	353,000	Kerry Properties Ltd.		1,158,765
	278,000	King Stone Energy Group Ltd.(b)		8,964
	396,200	Kingboard Chemical Holdings Ltd.		755,304
	591,500	Kingboard Laminates Holdings Ltd.		228,881
	196,000	Kingmaker Footwear Holdings Ltd.		38,174
	1,882,000	Kingston Financial Group Ltd.		203,907
	417,000	Kowloon Development Co. Ltd.		508,815
	767,000	KWG Property Holding Ltd.		424,410
	2,412,000	Lai Fung Holdings Ltd.		51,333
	8,286,750	Lai Sun Development(b)		193,462
	603,200	Lai Sun Garment International Ltd.(b)		84,805
	9,000	Lam Soon Hong Kong Ltd.		9,287
	208,000	Landsea Green Properties Co. Ltd.(b)		16,902
	116,000	Le Saunda Holdings Ltd.		55,360
	68,000	Lee & Man Chemical Co. Ltd.		32,452
	807,200	Lee & Man Paper Manufacturing Ltd.		438,325

Shares			Value
HONG KONG (continued)
	15,000	Lee’s Pharmaceutical Holdings Ltd.	$	16,832
	74,000	Lerado Group Holding Co. Ltd.		9,545
	92,000	Lifestyle International Holdings Ltd.		180,133
	3,271,000	Lijun International Pharmaceutical Holding Co. Ltd.		1,337,435
	1,924,000	Lippo China Resources Ltd.		96,784
	102,000	Lippo Ltd.		54,730
	156,000	Liu Chong Hing Investment Ltd.		299,004
	62,500	LK Technology Holdings Ltd.(b)		7,739
	705,600	Loudong General Nice Resources China Holdings Ltd.(b)		50,056
	170,000	Luen Thai Holdings Ltd.		51,090
	80,000	Luk Fook Holdings International Ltd.		227,010
	96,000	Lung Kee (Bermuda) Holdings		35,042
	1,658,000	Magnificent Estates		80,195
	59,200	Man Wah Holdings Ltd.		96,975
	38,000	Man Yue Technology Holdings Ltd.		11,665
	580,000	Mei Ah Entertainment Group Ltd.(b)		10,698
	196,000	Midland Holdings Ltd.		82,162
	632,000	MIE Holdings Corp.		119,015
	108,000	MIN XIN Holdings Ltd.		55,860
	1,815,000	Ming Fung Jewellery Group Ltd.(b)		22,240
	642,000	Mingfa Group International Co. Ltd.(b)		160,646
	780,000	Minmetals Land Ltd.		87,528
	42,000	Miramar Hotel & Investment Co. Ltd.		51,843
	6,221,148	Nan Hai Corp. Ltd.(b)		40,121
	10,000	Natural Beauty Bio-Technology Ltd.		516
	68,000	Nature Flooring Holding Co. Ltd.		12,718
	478,000	Neo-Neon Holdings Ltd.(b)		86,316
	1,650,000	Neptune Group Ltd.(b)		44,480
	69,500	NetDragon Websoft, Inc.		118,508
	872,000	New Century Group Hong Kong Ltd.		16,646
	1,235,100	New World China Land Ltd.		1,024,345
	78,000	New World Department Store China Ltd.		36,520
	478,000	Newocean Energy Holdings Ltd.		315,052
	434,000	Next Media Ltd.(b)		44,223
	812,000	Nine Dragons Paper Holdings Ltd.		533,098
	260,000	North Asia Resources Holdings Ltd.(b)		4,460
	220,000	NWS Holdings Ltd.		376,837

Shares			Value
HONG KONG (continued)
	625,000	Orange Sky Golden Harvest Entertainment Holdings Ltd.(b)	$	41,113
	162,000	Orient Overseas International Ltd.		773,125
	113,200	Oriental Watch Holdings.		25,552
	66,000	Overseas Chinese Town Asia Holdings Ltd.		23,070
	718,164	Pacific Andes International Holdings Ltd.		28,716
	13,582,000	Pacific Basin Shipping Ltd.(d)		7,900,840
	236,000	Pacific Textile Holdings Ltd.		299,530
	323,240	Paliburg Holdings Ltd.		102,981
	40,000	Paradise Entertainment Ltd.(b)		29,666
	59,000	PAX Global Technology Ltd.(b)		30,744
	1,090,000	PCCW Ltd.		582,049
	48,000	Peace Mark Holdings Ltd.(b)(c)(d)		0
	477,800	Pearl Oriental Oil Ltd.(b)		13,250
	296,000	Phoenix Satellite Television Holdings Ltd.		105,756
	368,000	Pico Far East Holdings Ltd.		98,254
	60,000	Playmates Holdings Ltd.		80,950
	76,000	Playmates Toys Ltd.(b)		31,957
	990,977	PNG Resources Holdings Ltd.		8,947
	1,329,000	Poly Property Group Co. Ltd.		575,967
	1,200,000	Polytec Asset Holdings Ltd.		176,449
	94,000	Ports Design Ltd.		44,618
	496,000	Pou Sheng International Holdings Ltd.(b)		21,112
	560,000	Prosperity International Holdings (Hong Kong) Ltd.(b)		19,141
	88,000	Public Financial Holdings Ltd.		41,656
	2,696,000	PYI Corp. Ltd.		58,768
	405,000	Real Nutriceutical Group Ltd.		86,193
	386,200	Regal Hotels International Holdings Ltd.		223,662
	133,000	Regent Manner International Holdings Ltd.(c)		23,330
	5,081,033	REXLot Holdings Ltd.		537,402
	86,000	Rising Development Holdings Ltd.(b)		46,811
	176,000	SA SA International Holdings Ltd.		147,557
	390,000	Samson Holding Ltd.		51,310
	58,000	SAS Dragon Holding Ltd.		38,078
	92,000	SEA Holdings Ltd.		51,382
	259,516	Shanghai Industrial Holdings Ltd.		803,357
	1,059,000	Shanghai Industrial Urban Development Group Ltd.(b)		202,158
	3,660,000	Shanghai Zendai Property Ltd.(b)		57,594
	566,000	Shangri-La Asia Ltd.		932,997
	150,000	Shenyin Wanguo HK Ltd.		53,979

Shares			Value
HONG KONG (continued)
	451,500	Shenzhen International Holdings Ltd.	$	547,417
	1,320,380	Shenzhen Investment Ltd.		430,876
	757,129	Shimao Property Holdings Ltd.		1,494,150
	3,156,000	Shougang Concord International Enterprises Co. Ltd.(b)		146,546
	508,000	Shougang Concord Technology Holdings(b)		21,295
	1,734,000	Shougang Fushan Resources Group Ltd.		521,120
	1,163,750	Shun Tak Holdings Ltd.		571,897
	370,000	Silver Grant International Ltd.		46,769
	507,000	SIM Technology Group Ltd.(b)		23,215
	854,000	Singamas Container Holdings Ltd.		185,055
	604,000	Sino Biopharmaceutical Ltd.		472,888
	3,935,000	Sino Oil And Gas Holdings Ltd.(b)		109,123
	1,400,000	Sinofert Holdings Ltd.		173,353
	212,000	Sinopec Kantons Holdings Ltd.		197,700
	914,000	Sinotrans Shipping Ltd.		264,075
	38,000	SIS International Holdings(d)		15,684
	1,003,278	Skyworth Digital Holdings Ltd.		480,096
	106,910	SmarTone Telecommunications Holding Ltd.		110,179
	1,267,934	SMI Corp. Ltd.(b)		45,792
	122,843	SOCAM Development Ltd.		148,940
	731,000	Solargiga Energy Holdings Ltd(b)		36,300
	366,000	Solomon Systech International Ltd.(b)		18,175
	20,000	Soundwill Holdings Ltd.		34,567
	696,000	South China China Ltd.(b)(d)		56,557
	360,000	Sparkle Roll Group Ltd.(b)		24,610
	1,413,428	SRE Group Ltd.(b)		40,472
	94,000	Stella International Holdings Ltd.		231,819
	60,500	Stelux Holdings International Ltd.		18,650
	204,000	Success Universe Group Ltd.(b)		9,473
	16,000	Sun Hing Vision Group Holdings Ltd.(c)		4,602
	371,801	Sun Hung Kai & Co. Ltd.		258,963
	1,802,000	Superb Summit International Group Ltd.(b)		239,400
	302,000	TAI Cheung Holdings Ltd.		208,788
	6,000	Tan Chong International Ltd.		2,461
	6,000	Tao Heung Holdings Ltd.		3,846
	698,000	TCC International Holdings Ltd.		342,115
	228,000	TCL Multimedia Technology Holdings Ltd.(b)		77,049
	280,500	Techtronic Industries Co.		893,640
	89,500	Television Broadcasts Ltd.		558,152
	108,000	Texhong Textile Group Ltd.		79,681
	284,000	Texwinca Holdings Ltd.		305,138
	185,800	Tian An China Investment		145,468

Shares			Value
HONG KONG (continued)
	106,000	Tianjin Development Holdings Ltd.(b)	$	85,998
	1,208,000	Tianjin Port Development Holdings Ltd.		188,532
	488,000	Tianneng Power International Ltd.		169,319
	215,000	Tibet 5100 Water Resources Holdings Ltd.		85,135
	2,380,000	Titan Petrochemicals Group Ltd.(b)(c)(d)		767
	124,252	Tomson Group Ltd.		36,540
	1,740,000	Tongda Group Holdings Ltd.		197,499
	216,000	Town Health International Investments Ltd.(b)		144,317
	203,000	Towngas China Co. Ltd.		231,463
	500,000	TPV Technology Ltd.		83,194
	154,000	Tradelink Electronic Commerce Ltd.		37,542
	84,000	Transport International Holdings Ltd.(d)		155,151
	472,000	Trinity Ltd.		121,151
	394,000	Truly International Holdings Ltd.		265,277
	128,000	TSC Group Holdings Ltd.(b)		72,313
	20,000	Tse Sui Luen Jewellery International Ltd.		7,894
	1,230,000	United Energy Group Ltd.(b)		187,206
	288,500	United Laboratories International Holdings Ltd. (The)(b)		186,058
	230,000	Universal Technologies Holdings Ltd.(b)		14,536
	44,000	Up Energy Development Group Ltd.(b)		4,256
	277,000	Value Partners Group Ltd.		177,927
	188,000	Varitronix International Ltd.		208,055
	348,000	Vedan International Holdings Ltd.(d)		18,852
	684,644	Victory City International Holdings Ltd.(c)(d)		99,788
	244,000	Vitasoy International Holdings Ltd.		334,231
	761,200	VODone Ltd.(b)		66,764
	483,600	VST Holdings Ltd.		122,881
	33,300	VTech Holdings Ltd.		459,580
	3,680,000	Wang On Group Ltd.		86,862
	178,000	Wasion Group Holdings Ltd.		127,422
	396,000	Welling Holding Ltd.		124,118
	96,000	Win Hanverky Holdings Ltd.		12,754
	50,412	Wing Hang Bank Ltd.		811,487
	77,000	Wing On Co. International Ltd.(d)		213,035
	230,000	Wing Tai Properties Ltd.(d)		142,694
	838,000	Xinyi Glass Holdings Ltd.		659,336
	221,500	XTEP International Holdings Ltd.		88,852
	1,040,000	Yanchang Petroleum International Ltd.(b)		51,645

Shares			Value
HONG KONG (continued)
	230,000	Yeebo International Holdings	$	36,786
	45,000	YGM Trading Ltd.		98,324
	2,427,000	Yingde Gases Group Co. Ltd.		2,451,120
	98,000	Yip’s Chemical Holdings Ltd.		69,396
	45,000	Youyuan International Holdings Ltd.		11,899
	204,000	Yue Yuen Industrial Holdings Ltd.		630,186
	3,396,200	Yuexiu Property Co. Ltd.		657,079
	116,191	Yuexiu Transport Infrastructure Ltd.		59,497
	906,000	Yugang International Ltd.(b)		8,414
	306,000	Zhuhai Holdings Investment Group Ltd.(b)		51,704
				94,333,411
HUNGARY — 0.0%
	24,646	Magyar Telekom Telecommunications Plc		35,112
INDIA — 1.1%
	355	3M India Ltd.(b)		22,093
	4,084	Aban Offshore Ltd.		34,793
	2,753	ABB India Ltd.		38,546
	2,732	ABG Shipyard Ltd.(b)		10,345
	17,582	ACC Ltd.		376,913
	43,270	Adani Enterprises Ltd.(b)		299,766
	47,479	Adani Power Ltd.(b)		37,903
	25,742	Aditya Birla Nuvo Ltd.		472,481
	238,440	AIA Engineering Ltd.(d)		2,385,981
	1,605	Ajanta Pharma Ltd.		26,409
	623	Akzo Nobel India Ltd.		8,941
	20,592	Alembic Pharmaceuticals Ltd.		101,739
	36,030	Allahabad Bank		59,766
	810	Allcargo Logistics Ltd.		1,955
	241,287	Alok Industries Ltd.		28,003
	1,082	Alstom India Ltd.		8,195
	498,410	Amara Raja Batteries Ltd.(d)		3,380,991
	124,036	Ambuja Cements Ltd.		406,667
	25,289	Amtek Auto Ltd.		72,850
	44,785	Anant Raj Ltd.(b)		40,987
	32,399	Andhra Bank		35,936
	229,025	Apollo Hospitals Enterprise Ltd.(d)		3,395,980
	99,796	Apollo Tyres Ltd.		263,161
	71,434	Arvind Ltd.		217,269
	287,392	Ashok Leyland Ltd.(b)		106,018
	59,016	Aurobindo Pharma Ltd.(b)		560,757
	591,685	Bajaj Electricals Ltd.(d)		2,883,624
	8,626	Bajaj Finance Ltd.		267,425
	12,411	Bajaj Finserv Ltd.		171,231
	123,405	Bajaj Hindusthan Ltd.(b)		36,419
	22,227	Bajaj Holdings and Investment Ltd.(d)		386,794
	12,115	Balkrishna Industries Ltd.		105,674
	189,807	Ballarpur Industries Ltd.		45,473
	41,078	Balrampur Chini Mills Ltd.		38,718

Shares			Value
INDIA (continued)
	20,918	Bank of Baroda	$	283,329
	25,201	Bank of India		97,833
	11,554	Bank of Maharashtra		7,327
	4,339	BASF India Ltd.		53,843
	3,947	Bata India Ltd.		69,899
	819,119	Berger Paints India Ltd.(d)		3,302,823
	2,479	Bharat Electronics Ltd.(b)		49,757
	26,138	Bharat Forge Ltd.(b)		176,723
	12,574	Bharat Petroleum Corp. Ltd.		94,834
	64,810	Bhushan Steel Ltd.		479,722
	14,324	Biocon Ltd.		111,844
	8,906	Birla Corp. Ltd.		42,777
	1,274	Blue Dart Express Ltd.		69,789
	8,842	Bombay Dyeing & Manufacturing Co. Ltd.		8,547
	4,107	Bombay Rayon Fashions Ltd.(b)		12,141
	11	Bosch Ltd.		1,922
	10,113	Britannia Industries Ltd.		144,875
	9,549	Cadila Healthcare Ltd.		154,867
	43,985	Canara Bank		208,312
	7,476	Carborundum Universal Ltd.		17,310
	29,868	Century Plyboards India Ltd.(b)		18,298
	9,156	Century Textiles & Industries Ltd.		50,854
	6,433	CESC Ltd.		48,518
	39,829	Chambal Fertilizers & Chemicals Ltd.		26,744
	9,705	Cholamandalam Investment and Finance Co. Ltd.		46,445
	10,133	City Union Bank Ltd.		9,836
	1,522	CMC Ltd.		36,163
	10,128	Colgate-Palmolive India Ltd.		240,913
	3,973	Container Corp. of India		63,351
	4,319	Coromandel International Ltd.		15,718
	6,273	Corp Bank		30,556
	160,239	CRISIL Ltd.(d)		3,449,197
	19,689	Crompton Greaves Ltd.		53,731
	13,480	Cummins India Ltd.		122,486
	128,260	Dabur India Ltd.		381,176
	2,774	Dalmia Bharat Ltd.		11,001
	6,484	DB Corp. Ltd.		31,385
	18,464	DB Realty Ltd.(b)		21,184
	27,921	DCB Bank Ltd.(b)		27,960
	29,801	Delta Corp Ltd.		45,555
	43,420	Dena Bank		45,605
	4,950	Divi’s Laboratories Ltd.		113,358
	106,331	DLF Ltd.		247,074
	656	eClerx Services Ltd.		13,194
	3,504	Eicher Motors Ltd.		360,262
	25,575	EID Parry India Ltd.(b)		64,346
	1,898	Elder Pharmaceuticals Ltd.(b)		6,744
	345,542	Emami Ltd.(b)(d)		2,724,692
	25,985	Engineers India Ltd.		98,464
	27,309	Escorts Ltd.		57,253
	28,288	Essar Oil Ltd.(b)		27,460

Shares			Value
INDIA (continued)
	20,369	Essar Ports Ltd.	$	20,077
	31,009	Essar Shipping Ltd.(b)		8,200
	36,761	Exide Industries Ltd.		72,986
	4,776	FDC Ltd.		10,330
	304,245	Federal Bank Ltd.		456,254
	6,289	Federal-Mogul Goetze India Ltd.(b)		19,003
	14,606	Finolex Cables Ltd.		33,019
	1,319,085	Fortis Healthcare Ltd.(b)(d)		2,179,339
	9,586	Future Capital Holdings Ltd.(b)(d)		27,416
	29,363	Gammon India Ltd.(b)		8,130
	29,067	Gateway Distriparks Ltd.		85,444
	767	Gillette India Ltd.		24,193
	1,488	GlaxoSmithKline Consumer Healthcare Ltd.		102,992
	14,696	Glenmark Pharmaceuticals Ltd.		147,301
	22,105	GMR Infrastructure Ltd.		9,107
	273	Godfrey Phillips India Ltd.		14,845
	30,654	Godrej Consumer Products Ltd.		405,823
	23,771	Godrej Industries Ltd.		119,082
	11,964	Godrej Properties Ltd.		43,599
	3,081	Gokul Refoils & Solvent Ltd.(b)		761
	29,016	Great Eastern Shipping Co. Ltd. (The)		161,112
	2,596	Grindwell Norton Ltd.		13,280
	16,010	Gruh Finance Ltd.		87,874
	15,133	Gujarat Alkalies & Chemicals(b)(d)		44,171
	8,892	Gujarat Flourochemicals Ltd.		47,206
	26,956	Gujarat Narmada Valley Fertilizers Co. Ltd.(b)		35,977
	35,352	Gujarat NRE Coke Ltd.(b)		6,213
	659,082	Gujarat Pipavav Port Ltd.(b)(d)		900,958
	17,426	Gujarat State Fertilisers & Chemicals Ltd.		15,934
	62,535	Gujarat State Petronet Ltd.		75,480
	3,304	Gulf Oil Corp Ltd.(b)		6,658
	5,553	Hathway Cable & Datacom Ltd.(b)		22,533
	7,852	Havells India Ltd.		121,253
	2,793	HBL Power Systems Ltd.(b)		702
	11,965	HCL Infosystems Ltd.(b)		8,907
	849	HEG Ltd.(b)		3,236
	18,832	Hexa Tradex Ltd.(b)		6,619
	137,134	Hexaware Technologies Ltd.		344,796
	522,779	Hindalco Industries Ltd.		1,164,042
	375	Hinduja Ventures Ltd.		1,589
	430	Honeywell Automation India Ltd.		22,380
	28,793	Housing Development & Infrastructure Ltd.(b)		32,700
	722,385	HSIL Ltd.(d)		1,790,542
	11,894	HT Media Ltd.		18,053
	1,883	HTMT Global Solutions Ltd.(b)		16,426
	49,378	ICRA Ltd.(d)		1,532,834
	66,277	IDBI Bank Ltd.		74,941

Shares			Value
INDIA (continued)
	173,718	IDFC Ltd.	$	321,572
	77,633	IIFL Holdings Ltd.		102,906
	92,087	India Cements Ltd. (The)		104,660
	29,515	Indiabulls Housing Finance Ltd.		146,339
	14,343	Indian Bank		30,748
	51,509	Indian Hotels Co. Ltd.		61,445
	11,703	Indian Overseas Bank		12,001
	45,438	IndusInd Bank Ltd.		360,363
	3,468	Info Edge India Ltd.		33,634
	16,196	Infotech Enterprises Ltd.		84,290
	23,454	ING Vysya Bank Ltd.		220,211
	295,730	Ipca Laboratories Ltd.(d)		4,098,985
	8,006	Jagran Prakashan Pvt Ltd.(b)		13,971
	16,998	Jai Corp. Ltd.		19,572
	29,744	Jain Irrigation Systems Ltd. - DVR		40,290
	544,527	Jaiprakash Associates Ltd.		486,161
	10,452	Jammu & Kashmir Bank Ltd.(b)		290,270
	75,459	Jaypee Infratech Ltd.		30,401
	9,049	Jet Airways India Ltd.(b)		37,635
	6,226	Jindal Poly Films Ltd.		15,174
	1,556	Jindal Poly Investments and Finance Co. Ltd.(b)		1,561
	91,841	Jindal Saw Ltd.		85,118
	92,348	Jindal Steel & Power Ltd.(b)		390,812
	7,796	JK Lakshmi Cement Ltd.		15,336
	104,984	JM Financial Ltd.		48,476
	99,774	JSW Energy Ltd.		88,666
	46,133	JSW Steel Ltd.		828,390
	142,308	Jubilant Foodworks Ltd.(b)(d)		2,232,123
	20,101	Jubilant Organosys Ltd.(b)		55,556
	90,563	Kakinada Fertilizers Ltd.(b)(c)(d)		3,156
	30,858	Karnataka Bank Ltd.		62,570
	11,855	Karur Vysya Bank Ltd.		76,527
	24,476	KPIT Technologies Ltd.		70,102
	298	Lakshmi Machine Works Ltd.		14,575
	81,905	LIC Housing Finance Ltd.		356,327
	11,875	Maharashtra Seamless Ltd.		42,497
	49,550	Mahindra & Mahindra Financial Services Ltd.		202,135
	531	Mahindra Lifespace Developers Ltd.		3,491
	3,619	Manaksia Ltd.(b)		4,323
	942	Marico Kaya Enterprises Ltd.(b)(c)(d)		1,903
	47,116	Marico Ltd.		159,358
	45,106	MAX India Ltd.		159,814
	1,025	Merck Ltd.		11,363
	4,915	MindTree Ltd.		115,629
	11,604	Monnet Ispat & Energy Ltd.		16,209
	70,479	Motherson Sumi Systems Ltd.		296,511
	11,049	Mphasis Ltd.		75,602
	515	MRF Ltd.		175,283
	82,330	Nagarjuna Oil Refinery Ltd.(b)(d)		5,119

Shares			Value
INDIA (continued)
	40,976	National Aluminium Co. Ltd.	$	25,952
	165,649	NHPC Ltd.		52,182
	16,197	NIIT Technologies Ltd.		108,974
	6,848	Oil India Ltd.		54,186
	47,831	OMAXE Ltd.		101,150
	6,434	Oracle Financial Sevices Software Ltd.(b)		320,063
	8,013	Orchid Chemicals & Pharmaceuticals Ltd.(b)		7,141
	8,317	Orient Cement Ltd.		6,798
	16,955	Oriental Bank of Commerce		69,532
	483	Orissa Minerals Development Co. Ltd.		18,715
	14,725	Oswal Chemical & Fertilizers(b)		6,286
	28,655	Page Industries Ltd.(d)		2,765,969
	8,697	Parsvnath Developers Ltd.(b)		3,475
	3,860	Peninsula Land Ltd.(b)		2,093
	789	Persistent Systems Ltd.		13,177
	104,278	Petronet LNG Ltd.		250,343
	4,125	Phoenix Mills Ltd.		16,981
	465,083	Pidilite Industries Ltd.(d)		2,455,922
	7,053	Plethico Pharmaceuticals Ltd.(b)		4,870
	9,700	Polaris Financial Technology Ltd.		28,691
	1,195	Procter & Gamble Hygiene & Health Care Ltd.		67,423
	31,859	PTC India Ltd.		35,311
	14,719	Rain Industries Ltd.		9,591
	24,971	Rajesh Exports Ltd.(b)		47,508
	796,263	Rallis India Ltd.(d)		2,399,416
	21,876	Ramco Cements Ltd. (The)		78,560
	19,421	Ranbaxy Laboratories Ltd.(b)		152,448
	62,060	Redington India Ltd.		90,700
	3,937	Reliance Capital Ltd.(b)		23,182
	121,363	Reliance Communications Ltd.(b)		246,388
	7,440	Reliance Infrastructure Ltd.		62,737
	160,258	Reliance Power Ltd.(b)		181,873
	38,166	Rolta India Ltd.		47,363
	43,842	Ruchi Soya Industries Ltd.		26,204
	9,422	S Mobility Ltd.		4,319
	3,688	Sadbhav Engineering Ltd.(b)		8,099
	612	Sanofi India Ltd.		30,219
	69,699	Sesa Sterlite Ltd.		214,187
	2,527	Shoppers Stop Ltd.		15,378
	1,426	Shree Cement Ltd.		134,797
	142,891	Shree Renuka Sugars Ltd.		51,764
	11,398	Shriram Transport Finance Co. Ltd.		138,858
	11,274	Siemens Ltd.		129,759
	77,746	Sintex Industries Ltd.(b)		58,843
	15,463	SJVN Ltd.		5,820
	161,500	SKF India Ltd.(d)		2,171,541
	5,085	Sobha Developers Ltd.		31,367
	104	Solar Industries India Ltd.		1,893

Shares			Value
INDIA (continued)
	426,240	South Indian Bank Ltd.	$	162,539
	6,622	SRF Ltd.		42,604
	29,868	Star Ferro and Cement Ltd.		11,637
	2,418	Sterlite Technologies Ltd.		1,221
	97,037	Strides Arcolab Ltd.		838,124
	16,553	Sun TV Network Ltd.(b)		103,190
	9,094	Sundaram Finance Ltd.		108,656
	6,405	Supreme Industries Ltd.		48,434
	38,891	Syndicate Bank		66,479
	13,597	Tata Chemicals Ltd.		64,102
	5,395	Tata Communications Ltd.		25,318
	4,726	Tata Investment Corp. Ltd.		36,992
	76,960	Tata Power Co. Ltd.		99,653
	99,640	Tata Tea Ltd.(b)		246,890
	1,682	Tech Mahindra Ltd.		51,093
	4,509	Thermax Ltd.		54,891
	10,567	Timken India Ltd.		35,582
	45,835	Titan Co. Ltd.		193,667
	204,762	Torrent Pharmaceuticals Ltd.(d)		1,962,239
	1,291	Trent Ltd.		21,098
	29,890	Triveni Turbine Ltd.		34,838
	697	TTK Prestige Ltd.		35,097
	121,811	TV18 Broadcast Ltd.(b)		51,095
	46,611	TVS Motor Co. Ltd.		73,724
	18,680	UCO Bank		23,600
	10,645	Uflex Ltd.		15,081
	13,600	Unichem Laboratories Ltd.		48,614
	29,635	Union Bank of India		74,266
	324,490	Unitech Ltd.(b)		85,272
	10,211	United Bank of India		5,384
	22,486	United Breweries Ltd.		294,408
	116,601	United Phosphorus Ltd.(b)		518,291
	16,860	Usha Martin Ltd.		10,343
	1,120	Vardhman Special Steels Ltd.(b)		501
	5,603	Vardhman Textiles Ltd.		30,976
	136,756	Vedanta Resources Plc		2,184,291
	23,739	Videocon Industries Ltd.		63,249
	50,641	Vijaya Bank		34,550
	10,213	Voltas Ltd.		26,474
	902	VST Industries Ltd.		29,315
	1,793	WABCO India Ltd.		65,565
	15,809	Wockhardt Ltd.		201,141
	548	Wyeth Ltd.		7,746
	96,337	Yes Bank Ltd.		703,980
	3,784,431	Zee Entertainment Enterprises Ltd.(b)		48,313
	180,211	Zee Entertainment Enterprises Ltd.		784,604
	4,219	Zensar Technologies Ltd.		25,290
	621	Zuari Agro Chemicals Ltd.		1,362
				75,091,104
INDONESIA — 0.4%
	1,306,000	Ace Hardware Indonesia Tbk PT		84,156
	6,920,700	Adaro Energy Tbk PT		709,340

Shares			Value
INDONESIA (continued)
	447,000	Adhi Karya Persero Tbk PT	$	115,408
	815,500	Agung Podomoro Land Tbk PT		18,551
	6,768,500	AKR Corporindo Tbk PT		2,792,522
	5,357,300	Alam Sutera Realty Tbk PT		245,588
	1,820,400	Aneka Tambang Persero Tbk PT		185,008
	31,960,000	Arwana Citramulia Tbk PT(d)		2,722,882
	77,000	Asahimas Flat Glass Tbk PT(d)		46,620
	165,500	Astra Agro Lestari Tbk PT		420,854
	42,411,000	Bakrie & Brothers Tbk PT(b)(d)		183,415
	9,710,000	Bakrie Sumatera Plantations Tbk PT(b)		41,993
	9,876,000	Bakrie Telecom Tbk PT(b)(d)		42,711
	1,477,666	Bank Bukopin Tbk PT		81,798
	505,316	Bank Danamon Indonesia Tbk PT		178,761
	3,011,250	Bank Pan Indonesia Tbk PT(b)		226,596
	1,016,300	Bank Pembangunan Daerah Jawa Barat Dan Banten Tbk PT		84,827
	13,000	Bank Permata Tbk PT(b)		1,507
	2,059,096	Bank Tabungan Negara Persero Tbk PT		205,705
	141,100	Bank Tabungan Pensiunan Nasional Tbk PT(b)		49,733
	495,000	Barito Pacific Tbk PT(b)		13,487
	54,000	Bayan Resources Tbk PT(b)(d)		37,365
	1,863,500	Benakat Integra Tbk PT(b)		22,404
	749,000	Berau Coal Energy Tbk PT(b)		7,968
	223,000	Bisi International PT		11,862
	560,000	Budi Starch & Sweetener Tbk PT(b)		5,570
	3,816,300	Bumi Serpong Damai PT		514,936
	201,000	BW Plantation Tbk PT		24,426
	4,958,000	Central Proteinaprima Tbk PT(b)		21,442
	5,137,500	Ciputra Development Tbk PT		451,028
	1,509,100	Ciputra Property Tbk PT		94,633
	238,000	Ciputra Surya Tbk PT		46,832
	479,000	Citra Marga Nusaphala Persada Tbk PT(b)		143,557
	11,917,500	Darma Henwa Tbk PT(b)(d)		51,540
	2,223,500	Delta Dunia Makmur Tbk PT(b)		35,579
	393,500	Elnusa Tbk PT		17,358
	25,671,500	Energi Mega Persada Tbk PT(b)		208,720
	164,300	Erajaya Swasembada Tbk PT(b)		17,053
	524,500	Exploitasi Energi Indonesia Tbk PT(b)		10,298
	36,500	Fajar Surya Wisesa Tbk PT(b)		5,351
	947,000	Gajah Tunggal Tbk PT		156,857
	24,500	Garda Tujuh Buana Tbk PT(b)		1,055
	3,339,500	Global Mediacom Tbk PT		632,574
	1,193,400	Gozco Plantations Tbk PT(b)		11,045
	348,200	Harum Energy Tbk PT		71,077
	72,500	Hexindo Adiperkasa Tbk PT		23,829
	1,387,000	Holcim Indonesia Tbk PT		340,707

Shares			Value
INDONESIA (continued)
	632,500	Indah Kiat Pulp and Paper Corp. Tbk PT(b)	$	73,855
	876,000	Indika Energy Tbk PT		46,977
	98,500	Indo Tambangraya Megah Tbk PT		217,038
	396,000	Indosat Tbk PT		133,924
	215,723	Inovisi Infracom Tbk PT(b)		26,495
	1,594,500	Intiland Development Tbk PT		62,613
	1,897,500	Japfa Comfeed Indonesia Tbk PT		207,615
	561,000	Jasa Marga Persero Tbk PT		286,286
	12,650,935	Kawasan Industri Jababeka Tbk PT		279,029
	174,600	Lippo Cikarang Tbk PT(b)		115,152
	13,300,750	Lippo Karawaci Tbk PT		1,230,965
	6,509,500	Malindo Feedmill Tbk PT		1,683,467
	1,437,300	Matahari Putra Prima Tbk PT		344,360
	1,019,667	Mayora Indah Tbk PT(d)		2,469,461
	758,000	Medco Energi Internasional Tbk PT		180,297
	1,385,500	Media Nusantara Citra Tbk PT		325,359
	272,000	Mitra Adiperkasa Tbk PT		149,981
	1,688,500	Mitra International Resources Tbk PT(b)		7,448
	4,947,000	MNC Investama Tbk PT		131,361
	23,455,000	Nippon Indosari Corpindo Tbk PT(d)		2,211,300
	950,000	Nusantara Infrastructure Tbk PT(b)		19,310
	4,190,800	Pakuwon Jati Tbk PT		127,593
	4,283,000	Panin Financial Tbk PT(b)		97,059
	705,500	Panin Insurance Tbk PT		42,410
	480,500	Pembangunan Perumahan Persero Tbk PT		76,679
	1,369,000	Perusahaan Perkebunan London Sumatra Indonesia Tbk PT		290,105
	827,000	Polychem Indonesia Tbk PT(b)		14,306
	1,383,000	Ramayana Lestari Sentosa Tbk PT		153,115
	77,500	Resource Alam Indonesia Tbk PT		11,630
	7,234,000	Sampoerna Agro Tbk PT(d)		1,529,830
	5,557,500	Selamat Sempurna Tbk PT(d)		1,732,888
	7,450,000	Sentul City Tbk PT(b)		110,833
	117,500	Sinar Mas Agro Resources & Technology Tbk PT(d)		67,838
	5,000	Sinar Mas Multiartha Tbk PT		1,514
	980,300	Sugih Energy Tbk PT(b)		38,325
	3,524,000	Summarecon Agung Tbk PT		338,333
	225,000	Surya Citra Media Tbk PT		61,303
	2,121,000	Surya Semesta Internusa Tbk PT		152,267
	145,000	Tambang Batubara Bukit Asam Persero Tbk PT		123,849
	579,000	Tiga Pilar Sejahtera Food Tbk		110,176
	2,311,416	Timah Persero Tbk PT		299,885

Shares			Value
INDONESIA (continued)
	166,600	Tower Bersama Infrastructure Tbk PT(b)	$	93,664
	4,875,000	Truba Alam Manunggal Engineering PT(b)(c)(d)		2,108
	1,152,000	Tunas Baru Lampung Tbk PT		50,817
	539,500	Tunas Ridean Tbk PT		31,498
	1,094,000	Vale Indonesia Tbk PT		335,917
	2,493,400	Visi Media Asia Tbk PT(b)		61,033
	958,252	Wijaya Karya Persero Tbk PT		187,730
				27,761,526
IRELAND — 0.5%
	109,408	Aer Lingus Group Plc		230,716
	1,961,821	Bank of Ireland(b)		770,249
	276,516	Beazley Plc		1,144,758
	154,534	C&C Group Plc		919,743
	22,410	DCC Plc		1,147,591
	10,174	Endo International Plc(b)		637,795
	10,294	FBD Holdings Plc(b)		247,710
	225,000	FleetMatics Group Plc(b)		6,756,750
	688,397	Glanbia Plc(d)		10,271,517
	67,081	Grafton Group Plc - Units		658,035
	181,601	Greencore Group Plc		800,568
	16,165	IFG Group Plc		38,349
	2,345	Irish Continental Group Plc - Units		94,233
	126,391	James Hardie Industries Plc - CDI		1,610,959
	230,508	Kenmare Resources Plc(b)		47,330
	13,885	Kentz Corp Ltd.		169,261
	19,490	Kerry Group Plc - Class A		1,538,542
	52,837	Kingspan Group Plc(b)(f)		994,359
	6,121	Kingspan Group Plc(f)		115,193
	12,329	Paddy Power Plc(b)		951,016
	118,111	Smurfit Kappa Group Plc(b)		2,627,511
	417	Tarsus Group Plc		1,589
	132,882	United Drug Plc(b)		804,777
	97,000	Willis Group Holdings Plc		3,976,030
				36,554,581
ISLE OF MAN — 0.0%
	17,071	Exillon Energy Plc(b)		40,712
	4,535	Hansard Global Plc		8,040
				48,752
ISRAEL — 1.9%
	27,811	Africa Israel Investments Ltd.(b)		60,742
	4,663	Airport City Ltd.(b)		47,567
	3,066	Allot Communications Ltd.(b)		39,445
	8,168	Alon Blue Square Israel Ltd.(b)		30,590
	1,870	AL-ROV Israel Ltd.(b)		78,572
	16,296	AudioCodes Ltd.(b)		88,909
	10,220	Azorim-Investment Development & Construction Co. Ltd.(b)		10,092
	9,030	Azrieli Group		305,567
	5,078	Babylon Ltd.		7,201

Shares			Value
ISRAEL (continued)
	28	Bayside Land Corp.	$	7,490
	350,142	Bezeq The Israeli Telecommunication Corp. Ltd.		634,414
	1,289	Bio-cell Ltd.(b)		9,208
	10,185	Cellcom Israel Ltd.		128,972
	409	Ceragon Networks Ltd.(b)		1,087
	1,812,500	Check Point Software Technologies Ltd.(b)		116,108,750
	4,796	Clal Biotechnology Industries Ltd.(b)		14,096
	13,327	Clal Insurance Enterprise Holdings Ltd.		259,993
	13,567	Delek Automotive Systems Ltd.		136,905
	1,004	Delek Group Ltd.		406,474
	3,947	Delta-Galil Industries Ltd.		120,674
	4,291	Direct Insurance Financial Investments Ltd.		26,213
	12,782	Elbit Systems Ltd.		753,881
	905	Electra Ltd.		130,631
	1	Electra Real Estate Ltd.(b)		2
	4,761	Elron Electronic Industries Ltd.(b)		46,901
	1,009	Equital Ltd.(b)		16,882
	0	Evogene Ltd.(b)		9
	4,175	EZchip Semiconductor Ltd.(b)		100,041
	16,965	First International Bank of Israel Ltd.		273,659
	3,427	Formula Systems (1985) Ltd.		103,587
	21,992	Frutarom Industries Ltd.		527,478
	4,704	Gilat Satellite Networks Ltd.(b)		22,606
	232	Golf & Co. Ltd.		837
	1,279	Hadera Paper Ltd.(b)		63,645
	71,162	Harel Insurance Investments & Financial Services Ltd.		405,318
	270	Industrial Buildings Corp.		564
	400,525	Israel Discount Bank Ltd. - Class A(b)		715,285
	2,874	Ituran Location & Control Ltd.		69,265
	4,804	Jerusalem Oil Exploration(b)		205,737
	89	Maabarot Products Ltd.		1,141
	4,100	Magic Software Enterprises Ltd.		32,902
	16,429	Matrix IT Ltd.		101,076
	692	Meitav DS Investments Ltd.		2,480
	1,459	Melisron Ltd.		38,816
	17,166	Menorah Mivtachim Holdings Ltd.		205,615
	158,600	Migdal Insurance & Financial Holding Ltd.		259,636
	1,673	Mivtach Shamir Holdings Ltd.		55,211
	99,963	Mizrahi Tefahot Bank Ltd.		1,335,729
	7,596	Naphtha Israel Petroleum Corp. Ltd.(b)		56,877
	736	Neto ME Holdings Ltd.		41,176
	14,803	NICE Systems Ltd.		642,511
	200,000	NICE Systems Ltd. - ADR		8,640,000
	645	Nitsba Holdings 1995 Ltd.(b)		9,880

Shares			Value
ISRAEL (continued)
	2,068	Nova Measuring Instruments Ltd.(b)	$	21,287
	540,051	Oil Refineries Ltd.(b)		150,131
	26,031	Ormat Industries Ltd.		193,925
	8,208	Osem Investments Ltd.		194,805
	15,937	Partner Communications Co. Ltd.(b)		142,721
	2,872	Paz Oil Co. Ltd.		448,249
	37,018	Phoenix Holdings Ltd. (The)		137,246
	1,121	Plasson Industries Ltd.		47,522
	715	Rami Levi Chain Stores Hashikma Marketing 2006 Ltd.		36,985
	68,879	Shikun & Binui Ltd.		179,298
	13,900	Shufersal Ltd.		51,935
	6,039	Strauss Group Ltd.		109,245
	3,145	Summit Real Estate Holdings Ltd.(b)		12,024
	213	Tower Semiconductor Ltd.(b)		1,660
	14,467	Union Bank of Israel(b)		68,060
				135,177,432
ITALY — 0.7%
	155,713	A2A SpA		190,213
	8,199	ACEA SpA		117,616
	3,675	Aeroporto di Venezia Marco Polo SAVE SpA		69,442
	10,117	Alerion Cleanpower SpA		52,045
	27,658	Amplifon SpA		180,345
	14,364	Ansaldo STS SpA		159,423
	16,647	Arnoldo Mondadori Editore SpA(b)		30,832
	5,010	Ascopiave SpA		16,056
	23,080	Astaldi SpA		249,756
	50,808	Atlantia SpA		1,321,656
	19,385	Autogrill SpA(b)		185,836
	14,247	Azimut Holding SpA		443,736
	191,616	Banca Carige SpA(b)		141,426
	12,300	Banca Generali SpA		386,679
	4,248	Banca IFIS SpA		91,584
	287,012	Banca Monte dei Paschi di Siena SpA(b)		95,525
	170,302	Banca Popolare dell’Emilia Romagna Scarl(b)		1,957,481
	55,439	Banca Popolare dell’Etruria e del Lazio(b)		64,338
	2,043,852	Banca Popolare di Milano Scarl(b)		2,058,597
	75,802	Banca Popolare di Sondrio Scarl		543,696
	907	Banco di Desio e della Brianza SpA		4,102
	155,236	Banco Popolare SC(b)		3,196,035
	3,334	BasicNet SpA(b)		11,101
	7,670	Biesse SpA(b)		68,634
	13,563	Brembo SpA		501,462
	3,804	Brunello Cucinelli SpA		109,244

Shares			Value
ITALY (continued)
	19,914	Buzzi Unicem SpA	$	352,805
	4,217	Caltagirone Editore SpA(b)		7,793
	32,411	Cementir Holding SpA		308,462
	183,833	CIR-Compagnie Industriali Riunite SpA(b)		283,095
	29,592	Credito Emiliano SpA		302,981
	117,100	Credito Valtellinese Scarl(b)		279,103
	9,148	Danieli & C Officine Meccaniche SpA		327,947
	4,885	Datalogic SpA		64,722
	93,104	Davide Campari-Milano SpA		808,589
	50,118	DeA Capital SpA(b)		93,172
	23,657	Delclima(b)		50,445
	19,373	De’Longhi SpA		420,358
	9,154	DiaSorin SpA		377,437
	1,977	Ei Towers SpA		112,454
	1,550	Engineering SpA		107,842
	24,995	ERG SpA		431,379
	5,852	Esprinet SpA		63,976
	14,129	Eurotech SpA(b)		47,319
	78,369	Falck Renewables SpA(b)		149,388
	297,242	Fiat SpA(b)		3,579,440
	206,607	Finmeccanica SpA(b)		1,907,560
	46,919	FNM SpA		42,896
	75,696	Gruppo Editoriale L’Espresso SpA(b)		174,643
	30,467	Gtech SpA		893,552
	58,047	Hera SpA		170,888
	9,330	Immobiliare Grande Distribuzione REIT		17,319
	60,625	IMMSI SpA(b)		64,679
	16,260	Indesit Co. SpA		231,673
	3,035	Industria Macchine Automatiche SpA		149,055
	198,830	Intek Group SpA(b)		128,600
	32,568	Interpump Group SpA		461,320
	112,590	Iren SpA		191,034
	49,156	Italcementi SpA		596,719
	4,027	Italmobiliare SpA(b)		183,249
	40,005	Juventus Football Club SpA(b)		13,675
	762	Landi Renzo SpA(b)		1,450
	1,779	Mariella Burani SpA(b)(c)(d)		0
	9,386	MARR SpA		181,652
	189,408	Mediaset SpA(b)		1,043,741
	176,249	Mediobanca SpA(b)		1,951,258
	40,338	Mediolanum SpA		362,079
	7,534	Nice SpA		33,343
	254,284	Parmalat SpA		883,362
	56,015	Piaggio & C SpA		231,427
	134,537	Pirelli & C. SpA		2,254,727
	18,004	Poltrona Frau SpA(b)		73,884
	1,283	Prima Industrie SpA(b)		24,848
	38,046	Prysmian SpA		989,154
	26,412	RCS MediaGroup SpA(b)		60,460
	30,604	Recordati SpA		534,976
	490	Reply SpA		44,187

Shares			Value
ITALY (continued)
	70,103	Retelit SpA(b)	$	67,934
	1,249	Sabaf SpA		26,754
	82	SAES Getters SpA		947
	23,216	Safilo Group SpA(b)		528,544
	14,940	Saipem SpA		400,031
	21,802	Salini Impregilo SpA		139,136
	7,857	Salvatore Ferragamo SpA		248,638
	80,592	Saras SpA(b)		139,761
	4,256	Servizi Italia SpA		31,589
	12,427	Societa Cattolica di Assicurazioni SCRL		306,882
	33,939	Societa Iniziative Autostradali e Servizi SpA		403,049
	471	Societa per la Bonifica dei Terreni Ferraresi e Imprese Agricole SpA		19,407
	3,079	Socotherm SpA(b)(c)(d)		0
	15,879	Sogefi SpA(b)		100,588
	12,888	SOL SpA		107,995
	60,496	Sorin SpA(b)		184,308
	6,138	Tamburi Investment Partners SpA		23,077
	112,447	Terna Rete Elettrica Nazionale SpA		608,412
	20,102	Tiscali SpA(b)		2,055
	3,433	Tod’s SpA		480,563
	18,881	Trevi Finanziaria Industriale SpA		217,414
	6,610	Uni Land SpA(b)(c)(d)		0
	551,885	Unione di Banche Italiane SCPA		5,252,402
	143,016	Unipol Gruppo Finanziario SpA		1,032,739
	438,550	UnipolSai SpA(b)		1,609,882
	10,354	Vittoria Assicurazioni SpA		151,834
	19,385	World Duty Free SpA(b)		259,659
	13,735	Yoox SpA(b)		492,387
	11,183	Zignago Vetro SpA		92,002
				47,240,966
JAPAN — 4.4%
	181,000	77 Bank Ltd. (The)		816,169
	4,700	A&D Co. Ltd.		20,090
	4,900	ABC-Mart, Inc.		219,754
	59,600	Accordia Golf Co. Ltd.		763,691
	86,000	Achilles Corp.		113,562
	3,600	Adastria Holdings Co. Ltd.		78,208
	56,800	ADEKA Corp.		624,475
	2,000	Aderans Co. Ltd.		28,405
	7,200	Advan Co. Ltd.		76,271
	20,400	Advantest Corp.		224,682
	4,700	Aeon Delight Co. Ltd.		103,530
	2,200	Aeon Fantasy Co. Ltd.		27,265
	800	Agrex, Inc.		8,209
	13,400	Ahresty Corp.		114,031
	11,600	Ai Holdings Corp.		184,720
	22,400	Aica Kogyo Co. Ltd.		467,785
	4,500	Aichi Bank Ltd. (The)		219,201

Shares			Value
JAPAN (continued)
	10,600	Aichi Corp.	$	45,102
	84,000	Aichi Steel Corp.		308,935
	16,000	Aichi Tokei Denki Co. Ltd.		44,760
	30,000	Aida Engineering Ltd.		285,812
	2,800	Ain Pharmaciez, Inc.		123,109
	7,400	Aiphone Co. Ltd.		120,878
	40,000	Air Water, Inc.		561,452
	11,300	Airport Facilities Co. Ltd.		78,034
	13,400	Aisan Industry Co. Ltd.		106,691
	13,000	Aizawa Securities Co. Ltd.		71,590
	37,100	Akebono Brake Industry Co. Ltd.		188,702
	82,000	Akita Bank Ltd. (The)		227,789
	2,100	Alconix Corp.		42,170
	11,200	Alfresa Holdings Corp.		696,748
	79,500	Allied Telesis Holdings KK		63,765
	11,100	Alpen Co. Ltd.		204,552
	3,200	Alpha Corp.		30,862
	1,160	Alpha Systems, Inc.		16,917
	30,200	Alpine Electronics, Inc.		360,681
	86,600	Alps Electric Co. Ltd.(b)		979,211
	3,300	Alps Logistics Co. Ltd.		34,086
	1,500	Altech Corp.		14,584
	176,000	Amada Co. Ltd.		1,272,206
	16,800	Amano Corp.		161,698
	500	Amiyaki Tei Co. Ltd.		14,017
	3,500	Amuse, Inc.		58,131
	13,000	Anest Iwata Corp.		78,584
	31,000	Anritsu Corp.		346,584
	2,100	AOI Electronics Co. Ltd.		40,876
	16,800	AOKI Holdings, Inc.		228,579
	90,000	Aomori Bank Ltd. (The)		247,371
	27,100	Aoyama Trading Co. Ltd.		671,967
	10,600	Arakawa Chemical Industries Ltd.		89,271
	25,000	Araya Industrial Co. Ltd.		40,104
	9,700	Arcland Sakamoto Co. Ltd.		192,131
	17,638	Arcs Co. Ltd.		353,329
	3,600	Argo Graphics, Inc.		56,834
	219,500	Ariake Japan Co. Ltd.(d)		5,294,537
	22,800	Arisawa Manufacturing Co. Ltd.		106,378
	1,100	Artnature, Inc.		31,396
	5,190	As One Corp.		136,153
	2,900	Asahi Broadcasting Corp.		16,963
	4,000	Asahi Co. Ltd.		53,132
	20,000	Asahi Diamond Industrial Co. Ltd.		270,358
	4,650	Asahi Holdings, Inc.		73,365
	4,200	Asahi Intecc Co. Ltd.		153,646
	13,000	Asahi Kogyosha Co. Ltd.		47,430
	3,000	Asahi Net, Inc.		13,733
	49,000	Asahi Organic Chemicals Industry Co. Ltd.		106,402
	23,000	Asanuma Corp.(b)		30,821
	12,400	Asatsu-DK, Inc.		280,057
	3,100	Asax Co. Ltd.		36,053

Shares			Value
JAPAN (continued)
	24,000	Ashimori Industry Co. Ltd.(b)	$	29,109
	15,800	Asics Corp.		307,392
	18,000	ASKA Pharmaceutical Co. Ltd.		160,923
	2,600	ASKUL Corp.		64,367
	12,000	Asunaro Aoki Construction Co. Ltd.		68,665
	10,200	Atom Corp.		51,880
	77,000	Atsugi Co. Ltd.		85,108
	60,900	Autobacs Seven Co. Ltd.		941,780
	5,800	Avex Group Holdings, Inc.		107,110
	114,000	Awa Bank Ltd. (The)		609,948
	5,100	Axial Retailing, Inc.		78,818
	9,300	Azbil Corp.		210,770
	47,000	Bando Chemical Industries Ltd.		180,672
	6,500	Bank of Iwate Ltd. (The)		288,331
	26,000	Bank of Kochi Ltd. (The)		37,384
	87,000	Bank of Kyoto Ltd. (The)		708,016
	87,000	Bank of Nagoya Ltd. (The)		326,777
	15,100	Bank of Okinawa Ltd. (The)		632,890
	62,000	Bank of Saga Ltd. (The)		129,173
	25,200	Bank of the Ryukyus Ltd.		333,256
	8,100	Belc Co. Ltd.		160,043
	40,400	Belluna Co. Ltd.		196,003
	1,200	Benefit One, Inc.		10,458
	3,100	Best Bridal, Inc.		18,436
	26,500	Best Denki Co. Ltd.		36,030
	24,400	Bic Camera, Inc.		177,806
	3,600	Bit-Isle, Inc.		23,381
	1,700	BML, Inc.		64,934
	2,100	Bookoff Corp.		17,480
	43,900	Brother Industries Ltd.		612,758
	27,000	Bunka Shutter Co. Ltd.		157,402
	800	C Uyemura & Co. Ltd.		36,935
	4,600	CAC Holdings Corp.		44,859
	14,800	Calbee, Inc.		362,490
	81,000	Calsonic Kansei Corp.		398,523
	2,000	Can Do Co. Ltd.		30,714
	10,400	Canon Electronics, Inc.		175,783
	28,800	Canon Marketing Japan, Inc.		463,685
	8,200	Capcom Co. Ltd.		142,689
	7,600	Carlit Holdings Co., Ltd.		34,939
	45,600	Casio Computer Co. Ltd.		520,072
	9,900	Cawachi Ltd.		180,405
	90,000	Central Glass Co. Ltd.		294,909
	2,000	Central Security Patrols Co. Ltd.		20,306
	2,100	Central Sports Co. Ltd.		31,571
	22,650	Century Tokyo Leasing Corp.		654,454
	22,100	Chiba Kogyo Bank Ltd. (The)(b)		143,536
	19,000	Chino Corp.		40,143
	11,300	Chiyoda Co. Ltd.		268,366
	4,200	Chiyoda Integre Co. Ltd.		57,679
	500	Chofu Seisakusho Co. Ltd.		12,520
	4,600	Chori Co. Ltd.		50,754
	13,500	Chubu Shiryo Co. Ltd.		78,173
	67,000	Chuetsu Pulp & Paper Co. Ltd.		125,828

Shares			Value
JAPAN (continued)
	153,000	Chugai Mining Co. Ltd.(b)	$	49,386
	28,000	Chugai Ro Co. Ltd.		60,253
	42,900	Chugoku Bank Ltd. (The)		568,167
	10,000	Chugoku Marine Paints Ltd.		63,677
	58,000	Chukyo Bank Ltd. (The)		98,714
	6,700	Chuo Denki Kogyo Co. Ltd.		21,365
	7,000	Chuo Spring Co. Ltd.		21,157
	76,900	Citizen Holdings Co. Ltd.		564,141
	24,700	CKD Corp.		224,688
	8,000	Clarion Co. Ltd.(b)		15,024
	11,000	Cleanup Corp.		100,171
	3,100	CMIC Holdings Co. Ltd.		49,607
	15,600	CMK Corp.(b)		38,758
	33,023	Coca-Cola East Japan Co. Ltd.		742,279
	33,300	Coca-Cola West Co. Ltd.		579,130
	8,190	Cocokara Fine, Inc.		232,077
	9,500	Colowide Co. Ltd.		95,246
	6,100	Computer Engineering & Consulting Ltd.		36,039
	4,400	Computer Institute of Japan Ltd.		17,603
	61,600	COMSYS Holdings Corp.		1,009,243
	4,500	CONEXIO Corp.		34,729
	2,300	COOKPAD, Inc.(b)		46,007
	4,000	Co-Op Chemical Co. Ltd.(b)		4,734
	6,800	Corona Corp.		68,642
	5,100	Cosel Co. Ltd.		58,216
	351,000	Cosmo Oil Co. Ltd.		655,754
	3,500	Cosmos Pharmaceutical Corp.		374,187
	2,700	Create Medic Co. Ltd.		25,353
	2,700	Create SD Holdings Co. Ltd.		89,133
	8,400	CTI Engineering Co. Ltd.		89,394
	2,300	Cybernet Systems Co. Ltd.		7,942
	60,000	Dai Nippon Toryo Co. Ltd.		89,206
	6,100	Daibiru Corp.		60,740
	160,000	Daicel Corp.		1,336,529
	9,000	Dai-Dan Co. Ltd.		47,538
	17,000	Daido Kogyo Co. Ltd.		51,049
	13,000	Daido Metal Co. Ltd.		138,348
	109,000	Daido Steel Co. Ltd.		532,019
	7,300	Daidoh Ltd.		44,485
	47,600	Daiei, Inc. (The)(b)		133,625
	10,500	Daifuku Co. Ltd.		120,883
	7,000	Daihatsu Diesel Manufacturing Co. Ltd.		46,012
	48,000	Daihen Corp.		181,699
	43,000	Daiho Corp.		166,978
	22,000	Daiichi Jitsugyo Co. Ltd.		92,532
	600	Daiichi Kigenso Kagaku-Kogyo Co. Ltd.		14,543
	1,000	Dai-ichi Seiko Co. Ltd.		12,726
	7,800	Daiichikosho Co. Ltd.		224,917
	27,000	Daiken Corp.		66,024
	19,000	Daiki Aluminium Industry Co. Ltd.		44,603
	7,200	Daiko Clearing Services Corp.		37,537

Shares			Value
JAPAN (continued)
	3,300	Daikoku Denki Co. Ltd.	$	58,844
	1,000	Daikokutenbussan Co. Ltd.		25,960
	148,000	Daikyo, Inc.		288,081
	5,300	Dainichi Co. Ltd.		38,103
	39,000	Dainichiseika Color & Chemicals Manufacturing Co. Ltd.		164,797
	49,000	Daio Paper Corp.		513,797
	34,000	Daisan Bank Ltd. (The)		56,869
	11,210	Daiseki Co. Ltd.		177,632
	86,000	Daishi Bank Ltd. (The)		310,403
	22,000	Daishinku Corp.		85,215
	26,000	Daiso Co. Ltd.		86,213
	2,200	Daisyo Corp.		25,887
	88,000	Daito Bank Ltd. (The)		93,823
	3,600	Daito Pharmaceutical Co. Ltd.		52,256
	66	Daiwa House Residential Investment Corp. REIT		273,400
	13,000	Daiwa Industries Ltd.		80,110
	86,000	Daiwabo Holdings Co. Ltd.		148,051
	10,400	DC Co. Ltd.		54,525
	56,860	DCM Holdings Co. Ltd.		384,313
	21,500	Dena Co. Ltd.		361,716
	227,000	Denki Kagaku Kogyo KK		752,707
	25,000	Denki Kogyo Co. Ltd.		148,433
	12,600	Denyo Co. Ltd.		187,456
	19,000	Descente Ltd.		143,659
	200,000	DIC Corp.		530,151
	3,200	Disco Corp.		194,376
	23,000	DKS Co. Ltd.		69,741
	10,700	Doshisha Co. Ltd.		160,236
	6,874	Doutor Nichires Holdings Co. Ltd.		123,044
	71,000	Dowa Holdings Co. Ltd.		595,862
	2,300	Dr Ci:Labo Co. Ltd.		73,566
	6,800	DTS Corp.		112,474
	6,600	Dunlop Sports Co. Ltd.		80,374
	40,300	Duskin Co. Ltd.		744,230
	3,900	Dwango Co. Ltd.		108,568
	4,400	Dydo Drinco, Inc.		178,823
	18,000	Dynic Corp.		28,699
	11,000	Eagle Industry Co. Ltd.		173,444
	1,800	Earth Chemical Co. Ltd.		64,352
	242,000	Ebara Corp.		1,436,827
	37,000	EDION Corp.		215,337
	66,000	Ehime Bank Ltd. (The)		144,608
	18,000	Eidai Co. Ltd.		97,364
	89,000	Eighteenth Bank Ltd. (The)		198,484
	6,400	Eiken Chemical Co. Ltd.		103,479
	9,300	Eizo Corp.		251,523
	2,100	Elematec Corp.		35,947
	2,800	Emori Group Holdings Co. Ltd.		41,657
	700	Endo Lighting Corp.		11,092
	500	en-japan, Inc.		8,749
	1,900	Enplas Corp.		109,092
	25,000	Enshu Ltd.(b)		31,300

Shares			Value
JAPAN (continued)
	4,300	EPS Corp.	$	41,093
	17,500	ESPEC Corp.		133,516
	4,800	Excel Co. Ltd.		50,754
	15,800	Exedy Corp.		421,601
	12,000	Ezaki Glico Co. Ltd.		157,754
	5,600	F@n Communications, Inc.		93,831
	3,810	Faith, Inc.		37,453
	3,000	Falco SD Holdings Co. Ltd.		33,951
	10,100	Fancl Corp.		111,833
	464,300	FCC Co. Ltd.(d)		7,929,455
	800	Felissimo Corp.		7,864
	19,300	Ferrotec Corp.		104,018
	57,200	FIDEA Holdings Co. Ltd.		106,864
	7,500	Fields Corp.		100,504
	2,200	Financial Products Group Co. Ltd.		21,239
	5,000	First Baking Co. Ltd.(b)		5,967
	15,100	Foster Electric Co. Ltd.		182,851
	8,600	FP Corp.		267,501
	34,000	France Bed Holdings Co. Ltd.		61,192
	900	F-Tech, Inc.		10,617
	17,900	Fudo Tetra Corp.		39,920
	5,900	Fuji Co. Ltd.		111,669
	10,600	Fuji Corp. Ltd.		62,106
	220,000	Fuji Electric Co. Ltd.		996,332
	7,500	Fuji Electronics Co. Ltd.		89,426
	13,000	Fuji Kiko Co. Ltd.		51,118
	12,000	Fuji Kyuko Co. Ltd.		120,194
	30,000	Fuji Oil Co. Ltd.		405,536
	9,000	Fuji Oil Co. Ltd.		27,906
	2,900	Fuji Pharma Co. Ltd.		56,533
	3,900	Fuji Seal International, Inc.		126,840
	9,900	Fuji Soft, Inc.		206,841
	54,000	Fujibo Holdings, Inc.		124,126
	7,600	Fujicco Co. Ltd.		88,760
	12,100	Fujikura Kasei Co. Ltd.		66,160
	221,000	Fujikura Ltd.		951,142
	3,000	Fujikura Rubber Ltd.		25,882
	3,100	Fujimi, Inc.		35,780
	6,300	Fujimori Kogyo Co. Ltd.		177,104
	40,000	Fujitec Co. Ltd.		462,073
	4,200	Fujitsu Frontech Ltd.		46,833
	18,000	Fujitsu General Ltd.		207,405
	7,700	FuKoKu Co. Ltd.		69,894
	19,000	Fukuda Corp.		88,091
	100,000	Fukui Bank Ltd. (The)		236,710
	117,000	Fukushima Bank Ltd. (The)		96,131
	5,200	Fukushima Industries Corp.		73,904
	105,000	Fukuyama Transporting Co. Ltd.		614,173
	7,800	Funai Consulting Ltd.		60,883
	42,000	Furukawa Co. Ltd.		76,001
	346,000	Furukawa Electric Co. Ltd.		778,403
	8,100	Furuno Electric Co. Ltd.		54,668
	4,000	Furusato Industries Ltd.		40,730
	100	Fuso Chemical Co. Ltd.		2,709

Shares			Value
JAPAN (continued)
	13,000	Fuso Pharmaceutical Industries Ltd.	$	41,708
	5,100	Futaba Corp.		80,016
	27,500	Futaba Industrial Co. Ltd.		123,197
	300	Future Architect, Inc.		1,772
	14,300	Fuyo General Lease Co. Ltd.		491,656
	900	G-7 Holdings, Inc.		6,558
	20,000	Gakken Holdings Co. Ltd.		54,189
	6,400	Gecoss Corp.		59,972
	16,600	Geo Holdings Corp.		151,817
	12,000	GLOBERIDE, Inc.		15,259
	20,800	Glory Ltd.		536,302
	12,000	GMO Internet, Inc.		105,756
	1,400	GMO Payment Gateway, Inc.		43,547
	62,000	Godo Steel Ltd.		87,328
	6,480	Goldcrest Co. Ltd.		135,070
	22,000	Goldwin, Inc.		113,405
	2,000	Gourmet Kineya Co. Ltd.		14,437
	21,700	Gree, Inc.		211,407
	86,000	GS Yuasa Corp.		486,213
	36,000	GSI Creos Corp.		47,890
	8,000	G-Tekt Corp.		89,676
	20,900	Gulliver International Co. Ltd.		170,495
	24,000	Gun-Ei Chemical Industry Co. Ltd.		86,389
	194,000	Gunma Bank Ltd. (The)		1,030,391
	63,000	Gunze Ltd.		171,927
	5,200	Gurunavi, Inc.		67,495
	13,200	H.I.S. Co. Ltd.		365,781
	65,000	H2O Retailing Corp.		490,194
	103,000	Hachijuni Bank Ltd. (The)		562,175
	5,800	Hakudo Co. Ltd.		50,605
	106,300	Hakuhodo DY Holdings, Inc.		824,531
	9,600	Hakuto Co. Ltd.		88,455
	3,300	Hamakyorex Co. Ltd.		91,187
	8,800	Hamamatsu Photonics KK		395,951
	172,000	Hanwa Co. Ltd.		671,277
	3,500	Happinet Corp.		35,536
	7,400	Hard Off Corp. Co. Ltd.		57,037
	6,400	Harima Chemicals Group, Inc.		27,544
	800	Harmonic Drive Systems, Inc.		22,654
	3,000	Haruyama Trading Co. Ltd.		20,981
	55,300	Haseko Corp.		349,969
	64,260	Hazama Ando Corp.		282,848
	15,600	Heiwa Corp.		259,555
	18,500	Heiwa Real Estate Co. Ltd.		290,072
	18,000	Heiwado Co. Ltd.		254,766
	20,900	Hibiya Engineering Ltd.		269,236
	5,040	Hiday Hidaka Corp.		116,097
	10,000	Higashi Nihon House Co. Ltd.		47,831
	81,000	Higashi-Nippon Bank Ltd. (The)		202,827
	86,000	Higo Bank Ltd. (The)		441,630
	9,000	Hikari Tsushin, Inc.		757,079
	4,700	HI-LEX Corp.		116,127
	1,300	Hioki EE Corp.		20,434

Shares			Value
JAPAN (continued)
	4,900	Hiramatsu, Inc.	$	32,592
	124,000	Hiroshima Bank Ltd. (The)		509,415
	15,000	Hisaka Works Ltd.		133,222
	27,200	Hitachi Capital Corp.		669,391
	51,700	Hitachi Chemical Co. Ltd.		760,064
	7,600	Hitachi High-Technologies Corp.		173,655
	11,600	Hitachi Koki Co. Ltd.		86,460
	5,000	Hitachi Kokusai Electric, Inc.		57,025
	12,030	Hitachi Metals Ltd.		163,091
	24,300	Hitachi Transport System Ltd.		372,219
	42,400	Hitachi Zosen Corp.		207,365
	5,000	Hochiki Corp.		26,654
	17,000	Hodogaya Chemical Co. Ltd.		33,423
	21,700	Hogy Medical Co. Ltd.		1,116,467
	26,100	Hokkaido Electric Power Co., Inc.(b)		159,559
	10,000	Hokkaido Gas Co. Ltd.		26,605
	28,000	Hokkan Holdings Ltd.		72,852
	15,000	Hokko Chemical Industry Co. Ltd.		50,619
	139,000	Hokkoku Bank Ltd. (The)		464,988
	114,000	Hokuetsu Bank Ltd. (The)		233,051
	49,865	Hokuetsu Kishu Paper Co. Ltd.		237,046
	551,000	Hokuhoku Financial Group, Inc.		1,061,740
	8,000	Hokuriku Electric Industry Co. Ltd.		10,642
	21,100	Hokuriku Electric Power Co.		261,699
	6,800	Hokuto Corp.		136,486
	7,100	H-One Co. Ltd.		54,864
	7,320	Honeys Co. Ltd.		68,521
	173,500	Horiba Ltd.		5,982,173
	9,900	Hoshizaki Electric Co. Ltd.		400,416
	33,800	Hosiden Corp.		153,403
	18,000	Hosokawa Micron Corp.		108,632
	44,500	House Foods Group, Inc.		739,962
	8,700	Howa Machinery Ltd.		61,696
	1,000	Hurxley Corp.		7,326
	200	Hutech Norin Co. Ltd.		1,974
	68,000	Hyakugo Bank Ltd. (The)		263,393
	95,000	Hyakujushi Bank Ltd. (The)		317,797
	61,600	Ibiden Co. Ltd.		1,109,264
	7,300	IBJ Leasing Co. Ltd.		166,943
	2,400	Ichibanya Co. Ltd.		96,953
	21,000	Ichikoh Industries Ltd.(b)		28,141
	7,300	ICHINEN Holdings Co. Ltd.		53,696
	6,600	Ichiyoshi Securities Co. Ltd.		78,566
	2,300	Icom, Inc.		52,981
	6,700	Idec Corp.		58,785
	17,100	Idemitsu Kosan Co. Ltd.		377,175
	20,000	Ihara Chemical Industry Co. Ltd.		156,502
	18,936	Iida Group Holdings Co. Ltd.		281,535
	45,400	Iino Kaiun Kaisha Ltd.		222,926

Shares			Value
JAPAN (continued)
	13,680	IJT Technology Holdings Co. Ltd.(b)	$	55,932
	22,000	Ikegami Tsushinki Co. Ltd.(b)		21,734
	3,000	Ikyu Corp.		32,572
	6,600	Imasen Electric Industrial		82,762
	10,400	Inaba Denki Sangyo Co. Ltd.		318,404
	3,200	Inaba Seisakusho Co. Ltd.		40,503
	25,700	Inabata & Co. Ltd.		241,578
	10,800	Inageya Co. Ltd.		105,533
	12,200	Ines Corp.		80,072
	4,200	I-Net Corp.		29,620
	2,900	Infomart Corp.		45,613
	6,200	Information Services International-Dentsu Ltd.		77,564
	4,200	Innotech Corp.		17,830
	1,400	Intage Holdings, Inc.		17,542
	7,000	Internet Initiative Japan, Inc.		162,205
	12,000	Inui Steamship Co. Ltd.		36,856
	1,500	Iriso Electronics Co. Ltd.		75,414
	6,000	Ise Chemical Corp.		40,084
	42,000	Iseki & Co. Ltd.		108,456
	145,000	Ishihara Sangyo Kaisha Ltd.(b)		137,575
	14,000	Ishizuka Glass Co. Ltd.		27,113
	45,766	IT Holdings Corp.		708,190
	14,000	Ito En Ltd.		299,213
	29,000	Itochu Enex Co. Ltd.		162,537
	4,200	Itochu Techno-Solutions Corp.		174,803
	2,000	Itochu-Shokuhin Co. Ltd.		67,296
	71,000	Itoham Foods, Inc.		321,544
	27,600	Itoki Corp.		207,334
	8,400	IwaiCosmo Holdings, Inc.		81,588
	27,000	Iwasaki Electric Co. Ltd.		65,232
	63,000	Iwatani Corp.		369,120
	42,000	Iwatsu Electric Co. Ltd.		36,974
	138,000	Iyo Bank Ltd. (The)		1,240,495
	20,100	Izumi Co. Ltd.		587,655
	29,000	Izumiya Co. Ltd.		137,292
	46,000	Izutsuya Co. Ltd.(b)		31,496
	900	Jalux, Inc.(b)		9,437
	1,900	Jamco Corp.		34,047
	98,000	Janome Sewing Machine Co. Ltd.(b)		78,603
	14,900	Japan Airport Terminal Co. Ltd.		342,932
	23,000	Japan Aviation Electronics Industry Ltd.		391,451
	17,300	Japan Communications, Inc.(b)		74,794
	13,700	Japan Digital Laboratory Co. Ltd.		199,533
	500	Japan Drilling Co. Ltd.		19,587
	2,900	Japan Electronic Materials Corp.		12,027
	20,300	Japan Foundation Engineering Co. Ltd.		65,923
	6,400	Japan Medical Dynamic Marketing, Inc.		18,342
	4,700	Japan Petroleum Exploration Co.		174,696

Shares			Value
JAPAN (continued)
	50,000	Japan Pulp & Paper Co. Ltd.	$	170,196
	23,000	Japan Radio Co. Ltd.(b)		89,314
	78,000	Japan Steel Works Ltd. (The)		328,831
	26,000	Japan Transcity Corp.		79,092
	8,000	Japan Vilene Co. Ltd.		44,055
	38,000	Japan Wool Textile Co. Ltd. (The)		281,743
	6,500	Jastec Co. Ltd.		45,205
	10,000	JBCC Holdings, Inc.		75,806
	9,000	Jeol Ltd.		33,452
	22,800	Jimoto Holdings, Inc.		45,049
	2,400	Jin Co. Ltd.		69,792
	5,000	JK Holdings Co. Ltd.		25,823
	20,000	JMS Co. Ltd.		57,123
	50,000	J-Oil Mills, Inc.		133,516
	20,000	Joshin Denki Co. Ltd.		161,784
	1,600	Jowa Holdings Co. Ltd.		55,402
	4,900	Jp-Holdings, Inc.		21,616
	8,000	JSP Corp.		120,115
	22,000	Juki Corp.(b)		45,189
	145,000	Juroku Bank Ltd. (The)		506,333
	4,000	Justsystems Corp.(b)		26,136
	80,100	JVC Kenwood Corp.(b)		169,234
	8,000	K&O Energy Group, Inc.(b)		111,117
	13,100	kabu.com Securities Co. Ltd.		58,046
	2,000	Kabuki-Za Co. Ltd.		92,825
	7,600	Kadokawa Corp.		249,777
	10,500	Kaga Electronics Co. Ltd.		125,402
	10,100	Kagome Co. Ltd.		170,811
	77,000	Kagoshima Bank Ltd. (The)		480,520
	45,200	Kakaku.com, Inc.		643,283
	28,000	Kaken Pharmaceutical Co. Ltd.		482,574
	5,800	Kameda Seika Co. Ltd.		164,863
	13,700	Kamei Corp.		100,772
	114,000	Kamigumi Co. Ltd.		1,086,086
	14,000	Kanaden Corp.		98,459
	10,000	Kanagawa Chuo Kotsu Co. Ltd.		48,809
	12,000	Kanamoto Co. Ltd.		376,779
	54,000	Kandenko Co. Ltd.		289,451
	152,000	Kaneka Corp.		892,062
	189,000	Kanematsu Corp.		290,243
	12,300	Kanematsu Electronics Ltd.		164,225
	9,000	Kansai Urban Banking Corp.		11,268
	15,000	Kanto Denka Kogyo Co. Ltd.(b)		35,800
	18,000	Kasai Kogyo Co. Ltd.		117,435
	16,800	Kasumi Co. Ltd.		118,480
	5,000	Katakura Industries Co. Ltd.		64,264
	11,900	Kato Sangyo Co. Ltd.		247,463
	50,000	Kato Works Co. Ltd.		287,573
	2,400	KAWADA Technologies, Inc.		71,130
	32,000	Kawai Musical Instruments Manufacturing Co. Ltd.		56,967
	8,000	Kawasaki Kinkai Kisen Kaisha Ltd.		23,554
	564,000	Kawasaki Kisen Kaisha Ltd.		1,130,924
	7,000	Kawasumi Laboratories, Inc.		41,767

Shares			Value
JAPAN (continued)
	98,000	Keihan Electric Railway Co. Ltd.	$	403,560
	15,900	Keihanshin Building Co. Ltd.		80,717
	11,000	Keihin Co. Ltd. (The)		15,709
	23,600	Keihin Corp.		341,644
	22,000	Keisei Electric Railway Co. Ltd.		191,304
	159,000	Keiyo Bank Ltd. (The)		699,858
	21,200	Keiyo Co. Ltd.		97,669
	800	Kenko Mayonnaise Co. Ltd.		6,870
	36,200	Kewpie Corp.		520,153
	6,525	KEY Coffee, Inc.		100,522
	2,000	KFC Holdings Japan Ltd.		41,238
	22,400	Kimoto Co. Ltd.		70,551
	49,000	Kinden Corp.		450,531
	600	King Jim Co. Ltd.		4,302
	7,000	Kinki Sharyo Co. Ltd. (The)(b)		22,321
	6,000	Kintetsu Department Store Co. Ltd.(b)		21,304
	7,200	Kintetsu World Express, Inc.		285,225
	6,000	Kinugawa Rubber Industrial Co. Ltd.		25,060
	13,900	Kissei Pharmaceutical Co. Ltd.		325,355
	66,000	Kitagawa Iron Works Co. Ltd.		107,165
	4,600	Kita-Nippon Bank Ltd. (The)		120,585
	21,000	Kitano Construction Corp.		51,763
	3,600	Kito Corp.		65,884
	31,000	Kitz Corp.		146,457
	32,300	Kiyo Bank Ltd. (The)		380,074
	29,600	Koa Corp.		284,028
	22,000	Koatsu Gas Kogyo Co. Ltd.		113,190
	8,200	Kobayashi Pharmaceutical Co. Ltd.		497,286
	14,800	Kohnan Shoji Co. Ltd.		149,976
	1,300	Kohsoku Corp.		11,470
	13,000	Koike Sanso Kogyo Co. Ltd.		27,339
	33,000	Koito Manufacturing Co. Ltd.		719,167
	8,800	Kojima Co. Ltd.(b)		28,147
	48,100	Kokuyo Co. Ltd.		367,919
	23,000	KOMAIHALTEC, Inc.		64,342
	5,000	Komatsu Seiren Co. Ltd.		25,187
	4,300	Komatsu Wall Industry Co. Ltd.		92,195
	16,300	Komeri Co. Ltd.		440,523
	12,300	Komori Corp.		156,284
	9,800	Konaka Co. Ltd.		68,730
	12,400	Konami Corp.		282,604
	6,600	Kondotec, Inc.		44,996
	9,700	Konishi Co.Ltd.		173,440
	6,500	Kose Corp.		215,851
	12,000	Krosaki Harima Corp.		25,001
	4,200	KRS Corp.		41,534
	22,628	K’s Holdings Corp.		656,696
	1,000	KU Holdings Co. Ltd.		11,063
	7,000	Kumiai Chemical Industry Co. Ltd.		47,518
	2,100	Kura Corp.		42,170
	125,000	Kurabo Industries Ltd.		212,745

Shares			Value
JAPAN (continued)
	64,000	Kureha Corp.	$	302,362
	56,000	Kurimoto Ltd.		116,672
	14,600	Kurita Water Industries Ltd.		307,038
	23,400	Kuroda Electric Co. Ltd.		375,599
	500	Kusuri No Aoki Co. Ltd.		33,452
	97,000	KYB Co. Ltd.		394,698
	43,000	Kyodo Printing Co. Ltd.		115,665
	41,000	Kyodo Shiryo Co. Ltd.		43,312
	2,000	Kyoei Sangyo Co. Ltd.		3,443
	7,400	Kyoei Steel Ltd.		128,189
	5,000	Kyokuto Boeki Kaisha Ltd.		9,830
	17,700	Kyokuto Kaihatsu Kogyo Co. Ltd.		232,341
	4,800	Kyokuto Securities Co. Ltd.		75,121
	26,000	Kyokuyo Co. Ltd.		67,139
	24,800	KYORIN Holdings, Inc.		478,365
	4,500	Kyoritsu Maintenance Co. Ltd.		153,397
	22,000	Kyosan Electric Manufacturing Co. Ltd.		75,962
	2,400	Kyoto Kimono Yuzen Co. Ltd.		23,757
	3,000	Kyowa Electronics Instruments Co. Ltd.		14,291
	47,500	Kyowa Exeo Corp.		614,222
	1,600	Kyowa Leather Cloth Co. Ltd.		6,917
	14,000	Kyudenko Corp.		120,644
	2,800	Lasertec Corp.		27,853
	2,700	LEC, Inc.		27,598
	28,700	Leopalace21 Corp.(b)		148,223
	8,600	Life Corp.		131,227
	19,500	Lintec Corp.		362,210
	54,000	Lion Corp.		295,789
	1,800	Livesense, Inc.(b)		16,709
	25,000	Look, Inc.		64,802
	4,300	Mabuchi Motor Co. Ltd.		293,999
	5,300	Macnica, Inc.		156,820
	68,000	Maeda Corp.		505,502
	47,000	Maeda Road Construction Co. Ltd.		727,745
	5,000	Maezawa Kasei Industries Co. Ltd.		52,086
	5,000	Maezawa Kyuso Industries Co. Ltd.		65,437
	78,000	Makino Milling Machine Co. Ltd.		579,841
	6,000	Mandom Corp.		210,398
	4,900	Mars Engineering Corp.		91,400
	11,900	Marubun Corp.		65,532
	95,000	Marudai Food Co. Ltd.		282,486
	18,000	Maruetsu, Inc. (The)		59,862
	4,000	Marufuji Sheet Piling Co. Ltd.		13,655
	9,591	Maruha Nichiro Corp.(b)		151,978
	27,700	Marui Group Co. Ltd.		245,747
	20,200	Maruichi Steel Tube Ltd.		511,940
	1,600	Maruka Machinery Co. Ltd.		20,815
	26,100	Marusan Securities Co. Ltd.		182,280
	2,900	Maruwa Co. Ltd.		102,685

Shares			Value
JAPAN (continued)
	20,000	Maruyama Manufacturing Co., Inc.	$	42,451
	900	Maruzen CHI Holdings Co. Ltd.(b)		2,782
	36,000	Maruzen Showa Unyu Co. Ltd.		113,034
	6,400	Marvelous AQL, Inc.		42,506
	6,500	Matsuda Sangyo Co. Ltd.		72,162
	13,300	Matsui Securities Co. Ltd.		122,157
	22,000	Matsumotokiyoshi Holdings Co. Ltd.		648,799
	2,700	Matsuya Foods Co. Ltd.		48,462
	12,000	Max Co. Ltd.		131,344
	3,700	Maxvalu Tokai Co. Ltd.		48,641
	8,200	McDonald’s Holdings Co. Japan Ltd.		226,907
	2,400	MEC Co. Ltd.		20,283
	79,100	Medipal Holdings Corp.		1,111,044
	3,500	Megachips Corp.(b)		41,219
	27,000	Megmilk Snow Brand Co. Ltd.		358,116
	65,000	Meidensha Corp.		268,939
	8,300	Meiko Electronics Co. Ltd.		48,955
	6,700	Meiko Network Japan Co. Ltd.		72,416
	9,000	Meisei Industrial Co. Ltd.		42,696
	10,700	Meitec Corp.		284,573
	200	Meito Transportation Co. Ltd.		1,293
	20,900	Meiwa Corp.		82,999
	10,100	Meiwa Estate Co. Ltd.		39,813
	3,000	Melco Holdings, Inc.		45,571
	2,400	Message Co. Ltd.		76,882
	70,000	Michinoku Bank Ltd. (The)		147,210
	1,600	Micronics Japan Co. Ltd.		43,789
	23,000	Mie Bank Ltd. (The)		49,494
	7,000	Mikuni Corp.		26,155
	2,937	Milbon Co. Ltd.		96,813
	9,700	Mimasu Semiconductor Industry Co. Ltd.		88,048
	79,000	Minato Bank Ltd. (The)		134,455
	65,000	Minebea Co. Ltd.		525,798
	12,600	Ministop Co. Ltd.		190,907
	198,900	Miraca Holdings, Inc.		8,618,643
	1,100	Miraial Co. Ltd.		17,129
	29,540	Mirait Holdings Corp.		259,470
	8,500	Misawa Homes Co. Ltd.		104,010
	23,300	MISUMI Group, Inc.		566,575
	6,400	Mitani Corp.		143,982
	8,000	Mito Securities Co. Ltd.		27,857
	16,000	Mitsuba Corp.		235,692
	105,000	Mitsubishi Gas Chemical Co., Inc.		605,957
	32,000	Mitsubishi Kakoki Kaisha Ltd.(b)		48,516
	22,000	Mitsubishi Logistics Corp.		315,469
	18,000	Mitsubishi Nichiyu Forklift Co. Ltd.		125,358
	148,000	Mitsubishi Paper Mills Ltd.(b)		127,393
	10,600	Mitsubishi Pencil Co. Ltd.		314,677

Shares			Value
JAPAN (continued)
	1,000	Mitsubishi Research Institute, Inc.	$	21,235
	5,700	Mitsubishi Shokuhin Co. Ltd.		127,621
	80,000	Mitsubishi Steel Manufacturing Co. Ltd.		159,632
	20,000	Mitsuboshi Belting Co. Ltd.		104,270
	429,000	Mitsui Chemicals, Inc.		1,044,857
	383,000	Mitsui Engineering & Shipbuilding Co. Ltd.		741,762
	19,000	Mitsui High-Tec, Inc.		119,685
	14,000	Mitsui Home Co. Ltd.		64,498
	51,100	Mitsui Knowledge Industry Co. Ltd.		74,974
	102,000	Mitsui Matsushima Co. Ltd.		147,660
	285,000	Mitsui Mining & Smelting Co. Ltd.		705,287
	66,000	Mitsui Sugar Co. Ltd.		273,722
	63,000	Mitsui-Soko Co. Ltd.		249,572
	61,100	Mitsumi Electric Co. Ltd.		391,456
	10,500	Mitsuuroko Group Holdings Co. Ltd.		57,001
	10,400	Miura Co. Ltd.		295,719
	38,000	Miyaji Engineering Group, Inc.		84,746
	60,000	Miyazaki Bank Ltd. (The)		183,108
	26,000	Miyoshi Oil & Fat Co. Ltd.		34,841
	62,000	Mizuno Corp.		337,790
	3,800	Mochida Pharmaceutical Co. Ltd.		267,619
	2,200	Modec, Inc.		48,633
	21,400	Monex Group, Inc.		71,587
	5,100	Monotaro Co. Ltd.		102,913
	96,000	Morinaga & Co. Ltd.		211,278
	113,000	Morinaga Milk Industry Co. Ltd.		421,118
	16,000	Morita Holdings Corp.		133,340
	22,000	Mory Industries, Inc.		82,848
	9,300	MOS Food Services, Inc.		185,118
	14,500	Moshi Moshi Hotline, Inc.		146,652
	11,900	Mr Max Corp.		38,062
	2,000	Murakami Corp.		29,696
	312,000	Musashi Seimitsu Industry Co. Ltd.		6,875,688
	21,800	Musashino Bank Ltd. (The)		697,276
	15,000	Mutoh Holdings Co. Ltd.		65,291
	13,500	Nabtesco Corp.		290,375
	2,500	NAC Co. Ltd.		36,827
	57,000	Nachi-Fujikoshi Corp.		352,365
	5,500	Nagaileben Co. Ltd.		105,874
	24,000	Nagano Bank Ltd. (The)		42,021
	1,000	Nagano Keiki Co. Ltd.		6,573
	91,400	Nagase & Co. Ltd.		1,119,311
	7,000	Nagatanien Co. Ltd.		67,511
	88,000	Nagoya Railroad Co. Ltd.		278,887
	22,000	Nakabayashi Co. Ltd.		43,253
	13,000	Nakamuraya Co. Ltd.		50,482
	1,900	Nakanishi, Inc.		64,860
	27,000	Nakayama Steel Works Ltd.(b)		20,071

Shares			Value
JAPAN (continued)
	11,200	Namura Shipbuilding Co. Ltd.	$	84,136
	53,000	Nankai Electric Railway Co. Ltd.		205,292
	55,000	Nanto Bank Ltd. (The)		206,045
	3,600	Natori Co. Ltd.		38,910
	16,000	NDS Co. Ltd.		44,447
	9,600	NEC Capital Solutions Ltd.		165,830
	14,100	NEC Networks & System Integration Corp.		298,178
	17,800	NET One Systems Co. Ltd.		144,684
	27,200	Neturen Co. Ltd.		186,238
	5,200	New Japan Chemical Co. Ltd.(b)		10,834
	4,100	Next Co. Ltd.		35,612
	80,900	NHK Spring Co. Ltd.		729,592
	41,000	Nice Holdings, Inc.		83,015
	11,000	Nichia Steel Works Ltd.		28,513
	38,000	Nichias Corp.		257,211
	17,000	Nichiban Co. Ltd.		57,368
	32,700	Nichicon Corp.		242,447
	2,600	Nichiden Corp.		62,206
	12,000	Nichiha Corp.		138,035
	19,100	Nichii Gakkan Co.		167,955
	11,450	Nichi-Iko Pharmaceutical Co. Ltd.		177,627
	22,000	Nichimo Co. Ltd.		39,165
	125,000	Nichirei Corp.		606,446
	18,000	Nichireki Co. Ltd.		175,889
	4,600	Nidec Copal Electronics Corp.		36,310
	509,800	Nifco, Inc.(d)		14,211,669
	3,900	NIFTY Corp.		55,123
	218	Nihon Chouzai Co. Ltd.		6,047
	9,700	Nihon Dempa Kogyo Co. Ltd.		77,896
	12,300	Nihon Kohden Corp.		503,502
	9,000	Nihon M&A Center, Inc.		210,134
	21,000	Nihon Nohyaku Co. Ltd.		261,486
	24,000	Nihon Parkerizing Co. Ltd.		523,265
	2,800	Nihon Plast Co. Ltd.		16,488
	1,000	Nihon Shokuhin Kako Co. Ltd.		3,355
	1,100	Nihon Tokushu Toryo Co. Ltd.		6,122
	500	Nihon Trim Co. Ltd.		17,264
	13,600	Nihon Unisys Ltd.		137,816
	37,000	Nihon Yamamura Glass Co. Ltd.		61,525
	29,000	Nikkiso Co. Ltd.		324,507
	9,000	Nikko Co. Ltd.		38,734
	55,000	Nippo Corp.		838,705
	12,000	Nippon Beet Sugar Manufacturing Co. Ltd.		22,536
	12,000	Nippon Carbide Industries Co., Inc.		24,884
	39,000	Nippon Carbon Co. Ltd.		68,665
	6,200	Nippon Ceramic Co. Ltd.		96,910
	62,000	Nippon Chemical Industrial Co. Ltd.(b)		80,657
	70,000	Nippon Chemi-Con Corp.(b)		223,211

Shares			Value
JAPAN (continued)
	3,000	Nippon Chemiphar Co. Ltd.	$	14,408
	115,000	Nippon Coke & Engineering Co. Ltd.		133,858
	18,000	Nippon Concrete Industries Co. Ltd.		73,419
	26,000	Nippon Conveyor Co. Ltd.		32,552
	13,000	Nippon Denko Co. Ltd.		36,113
	26,000	Nippon Densetsu Kogyo Co. Ltd.		385,543
	197,000	Nippon Electric Glass Co. Ltd.		961,540
	400	Nippon Felt Co. Ltd.		1,733
	600	Nippon Filcon Co. Ltd.		2,477
	9,700	Nippon Fine Chemical Co. Ltd.		59,584
	52,000	Nippon Flour Mills Co. Ltd.		289,920
	26,000	Nippon Formula Feed Manufacturing Co. Ltd.		31,535
	9,200	Nippon Gas Co. Ltd.		152,081
	11,000	Nippon Hume Corp.		80,051
	3,100	Nippon Jogesuido Sekkei Co. Ltd.		37,600
	3,400	Nippon Kanzai Co. Ltd.		68,775
	60,000	Nippon Kayaku Co. Ltd.		714,237
	16,000	Nippon Kinzoku Co. Ltd.(b)		20,189
	56,000	Nippon Koei Co. Ltd.		268,401
	27,000	Nippon Konpo Unyu Soko Co. Ltd.		455,568
	61,000	Nippon Koshuha Steel Co. Ltd.(b)		54,296
	2,000	Nippon Kucho Service Co. Ltd.		13,831
	327,600	Nippon Light Metal Holdings Co. Ltd.		461,431
	3,000	Nippon Meat Packers, Inc.		51,969
	47,000	Nippon Paint Co. Ltd.		726,366
	67,300	Nippon Paper Industries Co. Ltd.		1,228,364
	33,000	Nippon Parking Development Co. Ltd.		34,861
	16,000	Nippon Pillar Packing Co. Ltd.		114,716
	61,000	Nippon Piston Ring Co. Ltd.		106,206
	4,000	Nippon Rietec Co. Ltd.		29,344
	54,000	Nippon Road Co. Ltd. (The)		274,661
	19,000	Nippon Seiki Co. Ltd.		331,736
	4,000	Nippon Seiro Co. Ltd.		9,742
	10,000	Nippon Seisen Co. Ltd.		39,517
	18,000	Nippon Sharyo Ltd.		64,440
	510,000	Nippon Sheet Glass Co. Ltd.(b)		653,494
	25,000	Nippon Shinyaku Co. Ltd.		439,918
	64,000	Nippon Shokubai Co. Ltd.		736,812
	23,500	Nippon Signal Co. Ltd. (The)		194,694
	74,000	Nippon Soda Co. Ltd.		411,131
	115,480	Nippon Steel & Sumikin Bussan Corp.		406,640
	46,000	Nippon Steel & Sumikin Texeng Co. Ltd.		177,728
	116,900	Nippon Suisan Kaisha Ltd.(b)		268,709
	23,000	Nippon Synthetic Chemical Industry Co. Ltd. (The)		152,981

Shares			Value
JAPAN (continued)
	39,000	Nippon Thompson Co. Ltd.	$	177,004
	21,000	Nippon Valqua Industries Ltd.		55,871
	55,300	Nipro Corp.		478,165
	1,000	Nishikawa Rubber Co. Ltd.		16,462
	168,000	Nishimatsu Construction Co. Ltd.		603,081
	10,800	Nishimatsuya Chain Co. Ltd.		77,433
	359,000	Nishi-Nippon City Bank Ltd. (The)		814,672
	73,000	Nishi-Nippon Railroad Co. Ltd.		280,618
	3,100	Nishio Rent All Co. Ltd.		113,860
	18,300	Nissan Chemical Industries Ltd.		272,974
	39,000	Nissan Shatai Co. Ltd.		593,574
	14,000	Nissan Tokyo Sales Holdings Co. Ltd.		45,464
	1,200	Nissei ASB Machine Co. Ltd.		19,097
	2,300	Nissei Corp.		21,687
	3,900	Nissei Plastic Industrial Co. Ltd.		21,973
	23,600	Nisshin Fudosan Co. Ltd.		82,641
	38,000	Nisshin Oillio Group Ltd. (The)		127,119
	40,300	Nisshin Seifun Group, Inc.		468,692
	17,424	Nisshin Steel Co. Ltd.		178,612
	66,000	Nisshinbo Holdings, Inc.		564,875
	34,000	Nissin Corp.		95,779
	26,000	Nissin Electric Co. Ltd.		144,452
	18,300	Nissin Kogyo Co. Ltd.		337,593
	2,600	Nissin Sugar Co. Ltd.		55,263
	6,500	Nissui Pharmaceutical Co. Ltd.		67,076
	12,300	Nitta Corp.		252,894
	8,600	Nittan Valve Co. Ltd.		25,825
	37,000	Nittetsu Mining Co. Ltd.		137,888
	106,000	Nitto Boseki Co. Ltd.(b)		441,688
	600	Nitto FC Co. Ltd.		3,609
	17,600	Nitto Kogyo Corp.		364,274
	4,800	Nitto Kohki Co. Ltd.		87,328
	15,000	Nitto Seiko Co. Ltd.		43,283
	9,500	Nittoc Construction Co. Ltd.		34,010
	3,100	Nittoku Engineering Co. Ltd.		26,744
	7,400	Noevir Holdings Co. Ltd.		140,639
	109,000	NOF Corp.		754,849
	12,000	Nohmi Bosai Ltd.		137,683
	1,600	Nojima Corp.		11,378
	47,200	NOK Corp.		771,931
	17,000	Nomura Co. Ltd.		120,556
	47,000	Noritake Co. Ltd.		114,931
	8,700	Noritsu Koki Co. Ltd.		62,292
	13,800	Noritz Corp.		244,724
	200,100	North Pacific Bank Ltd.		810,304
	7,700	NS Solutions Corp.		192,585
	57,000	NS United Kaiun Kaisha Ltd.		127,676
	3,100	NSD Co. Ltd.		38,297
	246,000	NTN Corp.(b)		842,177
	9,400	NTT Urban Development Corp.		82,567
	500	Nuflare Technology, Inc.		31,154
	4,500	Obara Group, Inc.		168,582
	21,000	Obayashi Road Corp.		116,467

Shares			Value
JAPAN (continued)
	1,300	OBIC Business Consultants Ltd.	$	42,089
	9,600	Obic Co. Ltd.		287,808
	32,000	Oenon Holdings, Inc.		81,068
	141,000	Ogaki Kyoritsu Bank Ltd. (The)		380,652
	4,300	Ohara, Inc.		25,278
	2,400	Ohashi Technica, Inc.		19,367
	1,800	Ohsho Food Service Corp.		66,465
	14,038	Oiles Corp.		315,678
	65,000	Oita Bank Ltd. (The)		236,514
	20,200	Okabe Co. Ltd.		277,210
	18,000	Okamoto Industries, Inc.		59,158
	9,000	Okamoto Machine Tool Works Ltd.(b)		8,715
	35,000	Okamura Corp.		298,528
	21,000	Okasan Securities Group, Inc.		146,251
	142,000	Oki Electric Industry Co. Ltd.		277,791
	2,200	Okinawa Cellular Telephone Co.		56,143
	600	Okinawa Electric Power Co., Inc. (The)		19,573
	54,000	OKK Corp.		69,194
	62,000	OKUMA Corp.		531,247
	77,000	Okumura Corp.		351,729
	30,000	Okura Industrial Co. Ltd.		85,978
	14,000	Okuwa Co. Ltd.		127,628
	8,200	Onoken Co. Ltd.		86,464
	111,000	Onward Holdings Co. Ltd.		745,899
	1,800	Optex Co. Ltd.		29,262
	10,000	Organo Corp.		47,538
	17,000	Origin Electric Co. Ltd.		47,391
	2,700	Osaka Organic Chemical Industry Ltd.		11,541
	9,500	Osaka Steel Co. Ltd.		150,164
	4,100	OSAKA Titanium Technologies Co. Ltd.		84,057
	11,000	Osaki Electric Co. Ltd.		66,386
	25,100	OSG Corp.		404,605
	5,300	Otsuka Corp.		626,762
	3,800	Otsuka Kagu Ltd.		37,058
	6,100	Oyo Corp.		84,547
	37,000	Pacific Industrial Co. Ltd.		258,405
	34,000	Pacific Metals Co. Ltd.(b)		157,969
	6,850	Pack Corp. (The)		129,181
	4,000	Pal Co. Ltd.		76,295
	13,650	Paltac Corp.		168,497
	57,000	PanaHome Corp.		378,569
	10,500	Panasonic Industrial Devices SUNX Co. Ltd.		47,450
	1,000	Panasonic Information Systems Co. Ltd.		26,243
	3,100	Paramount Bed Holdings Co. Ltd.		93,393
	4,300	Parco Co. Ltd.		34,447
	6,700	Paris Miki Holdings, Inc.		33,292
	20,100	Park24 Co. Ltd.		366,867
	10,000	Pasco Corp.(b)		38,441

Shares			Value
JAPAN (continued)
	1,400	Pasona Group, Inc.	$	7,148
	55,500	Penta-Ocean Construction Co. Ltd.		181,318
	11,400	Pigeon Corp.		510,148
	6,600	Pilot Corp.		276,627
	5,200	Piolax, Inc.		180,310
	129,500	Pioneer Corp.(b)		279,938
	10,200	Plenus Co. Ltd.		232,764
	6,200	Pola Orbis Holdings, Inc.		242,275
	56,000	Press Kogyo Co. Ltd.		204,861
	1,500	Pressance Corp.		37,194
	3,000	Prestige International, Inc.		28,200
	67,000	Prima Meat Packers Ltd.		147,454
	6,800	Pronexus, Inc.		46,426
	900	Proto Corp.		12,395
	6,400	Qol Co. Ltd.		39,689
	42,100	Raito Kogyo Co. Ltd.		362,381
	1,900	Relo Holdings, Inc.		104,074
	137,840	Rengo Co. Ltd.		616,158
	35,400	Renown, Inc.(b)		40,859
	26,200	Resorttrust, Inc.		410,292
	3,000	Rheon Automatic Machinery Co. Ltd.		16,726
	49,000	Rhythm Watch Co. Ltd.		72,372
	9,100	Ricoh Leasing Co. Ltd.		237,391
	8,100	Right On Co. Ltd.		57,362
	31,000	Riken Corp.		126,747
	11,400	Riken Keiki Co. Ltd.		110,393
	19,000	Riken Technos Corp.		98,313
	2,600	Riken Vitamin Co. Ltd.		61,748
	3,000	Ringer Hut Co. Ltd.		44,574
	16,800	Riso Kagaku Corp.		413,283
	6,980	Riso Kyoiku Co. Ltd.		15,225
	4,500	Rock Field Co. Ltd.		80,374
	32,000	Rohto Pharmaceutical Co. Ltd.		564,347
	8,500	Roland Corp.		120,722
	1,200	Roland DG Corp.		40,495
	39,700	Round One Corp.		284,639
	8,600	Royal Holdings Co. Ltd.		125,423
	76,000	Ryobi Ltd.		224,502
	16,000	Ryoden Trading Co. Ltd.		107,987
	7,600	Ryohin Keikaku Co. Ltd.		853,406
	19,600	Ryosan Co. Ltd.		413,913
	8,400	Ryoyo Electro Corp.		100,733
	3,500	S Foods, Inc.		46,662
	2,000	Sagami Chain Co. Ltd.		18,115
	62,000	Saibu Gas Co. Ltd.		155,250
	15,600	Saizeriya Co. Ltd.		178,835
	37,000	Sakai Chemical Industry Co. Ltd.		104,230
	18,000	Sakai Heavy Industries Ltd.		63,736
	1,000	Sakai Moving Service Co. Ltd.		33,746
	39,000	Sakai Ovex Co. Ltd.		67,139
	18,000	Sakata INX Corp.		158,282
	17,300	Sakata Seed Corp.		241,643
	4,500	Sala Corp.		22,888

Shares			Value
JAPAN (continued)
	7,000	San-A Co. Ltd.	$	201,780
	50,000	San-Ai Oil Co. Ltd.		332,567
	26,000	Sanden Corp.		123,598
	2,000	Sanei Architecture Planning Co. Ltd.		15,768
	22,575	Sangetsu Co. Ltd.		580,964
	82,000	San-In Godo Bank Ltd. (The)		540,598
	4,500	Sanix, Inc.(b)		53,128
	44,000	Sanken Electric Co. Ltd.		305,570
	31,000	Sanki Engineering Co. Ltd.		190,424
	5,000	Sanko Marketing Foods Co. Ltd.		44,848
	14,000	Sanko Metal Industrial Co. Ltd.		31,907
	23,200	Sankyo Seiko Co. Ltd.		80,106
	12,900	Sankyo Tateyama, Inc.		254,883
	142,000	Sankyu, Inc.		540,304
	20,600	Sanoh Industrial Co. Ltd.		127,144
	8,200	Sanshin Electronics Co. Ltd.		51,413
	68,000	Sanwa Holdings Corp.		415,044
	40,000	Sanyo Chemical Industries Ltd.		244,535
	13,000	Sanyo Denki Co. Ltd.		87,612
	2,000	Sanyo Electric Railway Co. Ltd.		9,195
	5,400	Sanyo Housing Nagoya Co. Ltd.		51,076
	19,000	Sanyo Industries Ltd.		34,753
	59,000	Sanyo Shokai Ltd.		161,011
	78,000	Sanyo Special Steel Co. Ltd.		303,653
	170,000	Sapporo Holdings Ltd.		720,008
	19,000	Sasebo Heavy Industries Co. Ltd.(b)		21,186
	26,000	Sata Construction Co. Ltd.		29,755
	4,900	SATO Holdings Corp.		106,258
	6,300	Sato Shoji Corp.		39,870
	6,500	Satori Electric Co. Ltd.		41,072
	11,400	Sawada Holdings Co. Ltd.		96,566
	9,000	Sawai Pharmaceutical Co. Ltd.		557,246
	37,000	SAXA Holdings, Inc.		55,372
	100,480	SBI Holdings, Inc.		1,145,001
	1,600	SBS Holdings, Inc.		27,075
	13,600	Scroll Corp.		36,449
	21,797	SCSK Corp.		574,800
	1,600	Secom Joshinetsu Co. Ltd.		39,141
	4,000	Seibu Electric Industry Co. Ltd.		18,193
	37,000	Seika Corp.		86,135
	3,500	Seikagaku Corp.		41,835
	8,000	Seikitokyu Kogyo Co. Ltd.(b)		9,781
	55,200	Seiko Epson Corp.		1,504,252
	36,000	Seiko Holdings Corp.		131,344
	97,000	Seino Holdings Co. Ltd.		956,385
	18,700	Seiren Co. Ltd.		156,938
	32,000	Sekisui Jushi Corp.		425,999
	12,000	Sekisui Plastics Co. Ltd.		32,044
	37,000	Senko Co. Ltd.		169,013
	2,000	Senshu Electric Co. Ltd.		25,588
	44,120	Senshu Ikeda Holdings, Inc.		202,399
	9,000	Senshukai Co. Ltd.		76,588
	3,300	Seria Co. Ltd.		129,114

Shares			Value
JAPAN (continued)
	1,000	Shibaura Mechatronics Corp.	$	2,514
	25,000	Shibusawa Warehouse Co. Ltd. (The)		82,897
	9,400	Shibuya Kogyo Co. Ltd.		253,125
	2,100	Shidax Corp.		10,188
	91,000	Shiga Bank Ltd. (The)		496,679
	93,000	Shikibo Ltd.		101,883
	44,000	Shikoku Bank Ltd. (The)		88,658
	25,000	Shikoku Chemicals Corp.		171,174
	19,400	Shikoku Electric Power Co., Inc.(b)		226,952
	6,300	Shima Seiki Manufacturing Ltd.		105,005
	32,149	Shimachu Co. Ltd.		706,596
	74,000	Shimadzu Corp.		631,897
	1,400	Shimamura Co. Ltd.		130,366
	800	Shimane Bank Ltd. (The)		10,126
	3,600	Shimizu Bank Ltd. (The)		87,997
	141,000	Shimizu Corp.		798,543
	2,500	Shimojima Co. Ltd.		25,456
	7,400	Shin Nippon Air Technologies Co. Ltd.		45,311
	32,000	Shinagawa Refractories Co. Ltd.		63,540
	32,000	Shindengen Electric Manufacturing Co. Ltd.		130,523
	9,300	Shin-Etsu Polymer Co. Ltd.		34,749
	9,000	Shin-Keisei Electric Railway Co. Ltd.		33,276
	33,500	Shinko Electric Industries Co. Ltd.		220,854
	18,800	Shinko Plantech Co. Ltd.		141,411
	13,300	Shinko Shoji Co. Ltd.		122,417
	7,000	Shinko Wire Co. Ltd.		11,503
	41,000	Shinmaywa Industries Ltd.		361,735
	31,500	Shinnihon Corp.		92,434
	30,000	Shinsho Corp.		67,492
	900	Shinwa Co. Ltd.		10,405
	10,500	Ship Healthcare Holdings, Inc.		357,412
	20,000	Shiroki Corp.		38,343
	3,000	Shizuki Electric Co., Inc.		11,767
	32,500	Shizuoka Gas Co. Ltd.		195,505
	6,500	Shobunsha Publications, Inc.		40,118
	500	Shoei Foods Corp.		3,893
	900	Shofu, Inc.		7,571
	34,000	Shoko Co. Ltd.		45,229
	1,000	Showa Aircraft Industry Co. Ltd.		11,679
	25,600	Showa Corp.		280,953
	1,019,600	Showa Denko KK		1,356,342
	32,000	Showa Sangyo Co. Ltd.		103,291
	57,400	Showa Shell Sekiyu KK		582,225
	7,000	Siix Corp.		102,636
	18,000	Sinanen Co. Ltd.		68,313
	22,000	Sinfonia Technology Co. Ltd.		33,785
	4,900	Sinko Industries Ltd.		46,587
	41,100	Sintokogio Ltd.		295,079
	122,200	SKY Perfect JSAT Holdings, Inc.		656,212

Shares			Value
JAPAN (continued)
	27,000	SMK Corp.	$	100,357
	1,400	SMS Co. Ltd.		29,866
	13,500	SNT Corp.		54,140
	29,300	Sodick Co. Ltd.		108,619
	6,100	Soft99 Corp.		39,619
	2,200	Sogo Medical Co. Ltd.		91,026
	49,188	Sohgo Security Services Co. Ltd.		1,040,677
	820,800	Sojitz Corp.		1,292,598
	50,000	Sotetsu Holdings, Inc.		178,510
	1,900	Space Co. Ltd.		17,674
	700	SPK Corp.		12,886
	7,800	Square Enix Holdings Co. Ltd.		124,971
	2,700	SRA Holdings, Inc.		38,717
	300	ST Corp.		2,905
	1,800	St. Marc Holdings Co. Ltd.		85,303
	10,000	Stanley Electric Co. Ltd.		221,059
	19,100	Star Micronics Co. Ltd.		235,212
	6,800	Starbucks Coffee Japan Ltd.		72,234
	10,200	Start Today Co. Ltd.		213,408
	4,000	Starts Corp., Inc.		50,511
	26,000	Starzen Co. Ltd.		68,920
	5,300	Stella Chemifa Corp.		67,238
	2,500	Studio Alice Co. Ltd.		34,748
	8,000	Sugi Holdings Co. Ltd.		359,955
	3,800	Sugimoto & Co. Ltd.		37,541
	31,600	Sumco Corp.		242,328
	4,800	Sumida Corp.		28,922
	36,000	Suminoe Textile Co. Ltd.		108,808
	87,000	Sumitomo Bakelite Co. Ltd.		331,031
	8,900	Sumitomo Densetsu Co. Ltd.		109,427
	72,500	Sumitomo Forestry Co. Ltd.		737,517
	150,000	Sumitomo Heavy Industries Ltd.		636,768
	157,000	Sumitomo Mitsui Construction Co. Ltd.(b)		161,246
	246,000	Sumitomo Osaka Cement Co. Ltd.		976,926
	13,000	Sumitomo Precision Products Co. Ltd.		47,684
	6,280	Sumitomo Real Estate Sales Co. Ltd.		188,274
	38,000	Sumitomo Seika Chemicals Co. Ltd.		238,255
	61,000	Sumitomo Warehouse Co. Ltd. (The)		295,349
	2,500	Sun Frontier Fudousan Co. Ltd.		24,943
	2,000	Suncall Corp.		11,503
	12,700	Sundrug Co. Ltd.		519,255
	3,600	Sun-Wa Technos Corp.		31,023
	23,000	Suzuken Co. Ltd.		827,897
	115,000	SWCC Showa Holdings Co. Ltd.(b)		110,236
	5,400	Systena Corp.		37,449
	3,400	T&K Toka Co. Ltd.		70,504
	4,300	T. Hasegawa Co. Ltd.		63,805
	42,000	T. RAD Co. Ltd.		109,688

Shares			Value
JAPAN (continued)
	6,000	Tachibana Eletech Co. Ltd.	$	80,168
	11,900	Tachi-S Co. Ltd.		186,470
	68,000	Tadano Ltd.		961,784
	10,000	Taihei Dengyo Kaisha Ltd.		65,633
	37,000	Taiheiyo Kouhatsu, Inc.		34,382
	9,600	Taiho Kogyo Co. Ltd.		90,709
	16,700	Taikisha Ltd.		360,838
	10,000	Taiko Bank Ltd. (The)		20,639
	1,500	Taiko Pharmaceutical Co. Ltd.		21,803
	900	Taisei Lamick Co., Ltd.		21,911
	5,500	Taiyo Holdings Co. Ltd.		166,235
	59,000	Taiyo Nippon Sanso Corp.		469,761
	55,800	Taiyo Yuden Co. Ltd.		688,801
	1,600	Takachiho Koheki Co. Ltd.		15,775
	16,000	Takagi Securities Co. Ltd.		38,343
	7,100	Takamatsu Construction Group Co. Ltd.		121,673
	4,000	Takano Co. Ltd.		19,915
	18,000	Takara Leben Co. Ltd.		49,298
	4,400	Takara Printing Co. Ltd.		33,785
	65,000	Takara Standard Co. Ltd.		463,491
	41,000	Takasago International Corp.		200,518
	30,400	Takasago Thermal Engineering Co. Ltd.		296,759
	18,000	Takashima & Co. Ltd.		39,262
	72,000	Takashimaya Co. Ltd.		681,723
	13,800	Takata Corp.		324,904
	1,630	Take And Give Needs Co. Ltd.		30,755
	3,000	Takeei Corp.		29,285
	1,900	Takeuchi Manufacturing Co. Ltd.		55,141
	12,000	Takihyo Co. Ltd.		47,655
	23,000	Takiron Co. Ltd.		93,138
	33,000	Takisawa Machine Tool Co. Ltd.		46,158
	18,000	Takuma Co. Ltd.		145,430
	5,900	Tamron Co. Ltd.		147,565
	50,000	Tamura Corp.		118,844
	1,300	Tanseisha Co. Ltd.		4,908
	20,500	Tatsuta Electric Wire and Cable Co. Ltd.		102,264
	20,000	Tayca Corp.		54,971
	19,000	TBK Co. Ltd.		92,923
	600	Techno Medica Co. Ltd.		11,843
	1,200	Techno Ryowa Ltd.		5,470
	13,400	Tecmo Koei Holdings Co. Ltd.		159,644
	637,000	Teijin Ltd.		1,563,916
	1,200	Teikoku Electric Manufacturing Co. Ltd.		34,074
	7,000	Teikoku Sen-I Co. Ltd.		100,034
	15,000	Teikoku Tsushin Kogyo Co. Ltd.		24,649
	98,000	Tekken Corp.		285,656
	1,400	Tella, Inc.(b)		15,077
	5,300	Temp Holdings Co. Ltd.		134,943
	4,400	T-Gaia Corp.		38,734

Shares			Value
JAPAN (continued)
	23,500	THK Co. Ltd.	$	497,193
	1,000	Tigers Polymer Corp.		4,059
	11,000	TKC Corp.		222,615
	156,000	Toa Corp.		292,972
	6,000	Toa Corp.		60,332
	58,000	Toa Oil Co. Ltd.		89,069
	22,000	Toa Road Corp.		100,279
	51,000	Toabo Corp.		34,920
	104,500	Toagosei Co. Ltd.		437,482
	10,100	Tobishima Corp.(b)		14,719
	15,000	Tobu Store Co. Ltd.		38,588
	37,600	TOC Co. Ltd.		255,607
	3,400	Tocalo Co. Ltd.		53,111
	60,000	Tochigi Bank Ltd. (The)		233,579
	106,000	Toda Corp.		371,184
	15,000	Toda Kogyo Corp.		40,495
	1,400	Toei Animation Co. Ltd.		36,522
	32,000	Toei Co. Ltd.		179,038
	25,000	Toenec Corp.		121,045
	62,000	Toho Bank Ltd. (The)		207,405
	8,000	Toho Co. Ltd.		28,796
	30,000	Toho Gas Co. Ltd.		147,014
	11,600	Toho Holdings Co. Ltd.		233,963
	2,100	Toho Titanium Co. Ltd.(b)		13,085
	73,000	Toho Zinc Co. Ltd.		232,063
	53,000	Tohoku Bank Ltd. (The)		75,688
	500	Tohokushinsha Film Corp.		3,869
	14,000	Tohto Suisan Co. Ltd.		27,251
	61,000	Tokai Carbon Co. Ltd.		195,706
	2,400	Tokai Corp.		60,965
	19,000	TOKAI Holdings Corp.		65,790
	22,000	Tokai Lease Co. Ltd.		39,380
	26,700	Tokai Rika Co. Ltd.		463,826
	17,500	Tokai Rubber Industries Ltd.		180,931
	88,000	Tokai Tokyo Financial Holdings, Inc.		590,483
	1,890	Token Corp.		83,745
	33,840	Tokushu Tokai Paper Co. Ltd.		74,475
	171,000	Tokuyama Corp.		495,095
	20,000	Tokyo Broadcasting System Holdings, Inc.		217,147
	2,200	Tokyo Derica Co. Ltd.		32,020
	32,000	Tokyo Dome Corp.		143,043
	2,400	Tokyo Electron Device Ltd.		31,598
	5,000	Tokyo Energy & Systems, Inc.		26,067
	40,000	Tokyo Keiki, Inc.		111,508
	12,000	Tokyo Kikai Seisakusho Ltd.(b)		9,860
	39,800	Tokyo Ohka Kogyo Co. Ltd.		909,014
	7,000	Tokyo Rakutenchi Co. Ltd.		32,181
	89,000	Tokyo Rope Manufacturing Co. Ltd.(b)		129,711
	2,500	Tokyo Sangyo Co. Ltd.		9,781
	14,700	Tokyo Seimitsu Co. Ltd.		247,600
	44,800	Tokyo Steel Manufacturing Co. Ltd.		218,665
	86,000	Tokyo Tatemono Co. Ltd.		684,736

Shares			Value
JAPAN (continued)
	32,000	Tokyo Tekko Co. Ltd.	$	119,881
	31,000	Tokyo Theaters Co., Inc.		42,148
	17,500	Tokyo Tomin Bank Ltd. (The)		181,445
	21,521	Tokyu Fudosan Holdings Corp.		156,195
	27,000	Toli Corp.		52,027
	28,000	Tomato Bank Ltd.		46,286
	4,000	Tomen Devices Corp.		66,435
	7,900	Tomen Electronics Corp.		126,882
	18,100	Tomoe Corp.		78,253
	3,300	Tomoe Engineering Co. Ltd.		52,098
	4,000	Tomoegawa Co. Ltd.		7,629
	49,000	Tomoku Co. Ltd.		131,325
	71,700	TOMONY Holdings, Inc.		304,375
	31,000	Tomy Co. Ltd.		147,063
	25,000	Tonami Holdings Co. Ltd.		45,483
	13,100	Topcon Corp.		228,467
	26,500	Toppan Forms Co. Ltd.		243,654
	29,000	Topre Corp.		293,021
	103,000	Topy Industries Ltd.		174,295
	1,000	Toridoll.corp.		9,879
	8,800	Torigoe Co. Ltd. (The)		59,565
	5,300	Torii Pharmaceutical Co. Ltd.		150,444
	5,400	Torishima Pump Manufacturing Co. Ltd.		66,130
	12,100	Tosei Corp.		73,143
	67,000	Toshiba Machine Co. Ltd.		300,152
	17,000	Toshiba Plant Systems & Services Corp.		249,924
	106,000	Toshiba TEC Corp.		689,490
	18,000	Tosho Printing Co. Ltd.		68,841
	245,000	Tosoh Corp.		934,611
	12,000	Totetsu Kogyo Co. Ltd.		243,791
	21,000	Tottori Bank Ltd. (The)		37,384
	174,000	Towa Bank Ltd. (The)		165,090
	1,900	Towa Corp.		9,645
	2,800	Towa Pharmaceutical Co. Ltd.		119,548
	29,800	Toyo Construction Co. Ltd.		105,518
	8,200	Toyo Corp.		90,795
	3,000	Toyo Denki Seizo - Toyo Electric Manufacturing Co. Ltd.		10,769
	62,000	Toyo Engineering Corp.		273,507
	152,000	Toyo Ink SC Holdings Co. Ltd.		619,983
	28,000	Toyo Kanetsu KK		66,553
	28,000	Toyo Kohan Co. Ltd.		135,570
	29,000	Toyo Securities Co. Ltd.		79,709
	17,600	Toyo Seikan Group Holdings Ltd.		261,499
	16,000	Toyo Suisan Kaisha Ltd.		511,762
	1,300	Toyo Tanso Co. Ltd.		31,192
	98,000	Toyo Tire & Rubber Co. Ltd.		729,476
	20,000	Toyo Wharf & Warehouse Co. Ltd.		39,908
	337,000	Toyobo Co. Ltd.		543,894
	35,400	Toyoda Gosei Co. Ltd.		652,356
	35,800	Toyota Boshoku Corp.		369,433

Shares			Value
JAPAN (continued)
	9,200	TPR Co. Ltd.	$	135,703
	1,200	Trancom Co. Ltd.		42,197
	12,300	Transcosmos, Inc.(b)		228,832
	8,800	Trusco Nakayama Corp.		198,406
	12,900	TS Tech Co. Ltd.		343,966
	54,600	TSI Holdings Co. Ltd.		367,970
	67,000	Tsubakimoto Chain Co.		477,097
	8,000	Tsubakimoto Kogyo Co. Ltd.		21,832
	47,000	Tsudakoma Corp.(b)		62,063
	34,000	Tsugami Corp.		192,224
	15,000	Tsukamoto Corp. Co. Ltd.		19,514
	18,000	Tsukishima Kikai Co. Ltd.		191,207
	39,433	Tsukuba Bank Ltd.		141,941
	4,700	Tsukui Corp.		52,730
	16,700	Tsumura & Co.		396,285
	5,300	Tsuruha Holdings, Inc.		532,929
	7,000	Tsurumi Manufacturing Co. Ltd.		85,519
	2,400	Tsutsumi Jewelry Co. Ltd.		54,345
	7,000	TTK Co. Ltd.		30,743
	8,100	TV Asahi Holdings Corp.		141,107
	200	TV Tokyo Holdings Corp.		3,187
	68,840	UACJ Corp.		272,034
	578,800	Ube Industries Ltd.		979,434
	23,000	Uchida Yoko Co. Ltd.		64,342
	14,000	Ueki Corp.		27,388
	4,600	UKC Holdings Corp.		73,926
	8,600	Ulvac, Inc.(b)		162,856
	36,000	Uniden Corp.(b)		83,455
	400	Union Tool Co.		9,363
	21,600	Unipres Corp.		416,851
	7,300	United Arrows Ltd.		282,046
	96,000	Unitika Ltd.(b)		54,463
	4,900	Universal Entertainment Corp.(b)		86,991
	143,600	UNY Group Holdings Co. Ltd.		925,636
	19,280	Usen Corp.(b)		70,907
	14,100	U-Shin Ltd.		84,543
	24,300	Ushio, Inc.		317,313
	4,000	UT Holdings Co. Ltd.		24,336
	8,800	Utoc Corp.		30,643
	18,600	Valor Co. Ltd.		240,880
	3,000	Village Vanguard Co. Ltd.		35,301
	22,600	Vital KSK Holdings, Inc.		159,826
	16,200	VT Holdings Co. Ltd.		92,857
	32,000	Wacoal Holdings Corp.		315,195
	26,700	Wacom Co. Ltd.		174,718
	33,000	Wakachiku Construction Co. Ltd.		50,355
	16,000	Wakita & Co. Ltd.		180,760
	7,600	Warabeya Nichiyo Co. Ltd.		141,689
	2,800	Watabe Wedding Corp.		18,651
	6,300	WATAMI Co. Ltd.		91,695
	3,000	Weathernews, Inc.		78,730
	1,700	Welcia Holdings Co. Ltd.		102,597
	2,700	West Holdings Corp.		36,234
	18,000	Wood One Co. Ltd.		50,179

Shares			Value
JAPAN (continued)
	500	Wowow, Inc.	$	16,775
	20,700	Xebio Co. Ltd.		381,867
	5,100	Yachiyo Bank Ltd. (The)		137,783
	4,700	Yahagi Construction Co. Ltd.		46,064
	1,200	Yaizu Suisankagaku Industry Co. Ltd.		11,186
	3,700	YAMABIKO Corp.		137,707
	117,200	Yamada Denki Co. Ltd.		432,185
	88,000	Yamagata Bank Ltd. (The)		376,153
	157,000	Yamaguchi Financial Group, Inc.		1,446,608
	124,300	Yamaha Corp.		1,663,250
	79,000	Yamanashi Chuo Bank Ltd. (The)		342,319
	70,000	Yamatane Corp.		102,705
	5,700	Yamato Kogyo Co. Ltd.		164,139
	1,800	Yamaya Corp.		32,889
	60,000	Yamazaki Baking Co. Ltd.		732,430
	100	Yamazawa Co. Ltd.		1,496
	18,200	Yamazen Corp.		117,494
	2,500	Yaoko Co. Ltd.		113,220
	700	Yashima Denki Co. Ltd.		3,054
	34,000	Yaskawa Electric Corp.		383,450
	7,900	Yasuda Warehouse Co. Ltd. (The)		81,832
	15,900	Yellow Hat Ltd.		304,361
	57,000	Yodogawa Steel Works Ltd.		224,131
	17,000	Yokogawa Bridge Holdings Corp.		224,982
	25,300	Yokogawa Electric Corp.		345,219
	22,300	Yokohama Reito Co. Ltd.		180,389
	56,000	Yokohama Rubber Co. Ltd. (The)		500,103
	3,300	Yokowo Co. Ltd.		16,494
	5,000	Yomeishu Seizo Co. Ltd.		46,608
	7,000	Yomiuri Land Co. Ltd.		26,977
	5,000	Yondenko Corp.		17,753
	3,100	Yondoshi Holdings, Inc.		55,065
	3,200	Yonex Co. Ltd.		18,905
	8,300	Yorozu Corp.		154,821
	1,800	Yoshinoya Holdings Co. Ltd.		22,800
	56,000	Yuasa Trading Co. Ltd.		106,265
	27,000	Yuken Kogyo Co. Ltd.		54,932
	3,800	Yumeshin Holdings Co. Ltd.		32,337
	13,000	Yurtec Corp.		60,654
	9,100	Yusen Logistics Co. Ltd.		104,765
	2,000	Yushiro Chemical Industry Co. Ltd.		20,111
	12,300	Zenrin Co. Ltd.		125,484
	18,700	Zensho Holdings Co. Ltd.		189,131
	72,000	Zeon Corp.		669,751
	7,700	ZERIA Pharmaceutical Co. Ltd.		161,027
	4,000	Zojirushi Corp.		14,281
	600	Zuiko Corp.		33,335
	10,700	Zuken, Inc.		83,623
				309,085,167

Shares			Value
JERSEY CHANNEL ISLANDS — 0.0%
	5,067	Atrium European Real Estate Ltd.	$	29,173
	410,240	Centamin Plc(b)		448,488
	55,236	Heritage Oil Plc(b)		293,955
	66,885	Petra Diamonds Ltd.(b)		184,073
	65,603	Phoenix Group Holdings		756,515
	8,082	Randgold Resources Ltd.		652,259
				2,364,463
LIECHTENSTEIN — 0.0%
	553	Liechtensteinische Landesbank AG		27,333
	912	Verwaltungs- und Privat-Bank AG		90,879
				118,212
LUXEMBOURG — 0.3%
	34,744	APERAM(b)		903,305
	2,734,415	AZ Electronic Materials SA(d)		18,587,083
	32,312	d’Amico International Shipping SA		29,452
	1,818	Eurofins Scientific SE		504,440
	1,096	GAGFAH SA(b)		17,304
	104,500	L’Occitane International SA		256,635
	1,351	Oriflame Cosmetics SA - SDR		34,449
	100,579	Regus Plc		354,917
	153,988	Transcom WorldWide SA, Class B - SDR(b)		34,103
				20,721,688
MALAYSIA — 0.7%
	50,600	Aeon Co. (M) Berhad		228,091
	8,520	Aeon Credit Service M Berhad		37,832
	317,300	Affin Holdings Berhad		366,321
	682,400	AirAsia Berhad		463,919
	20,200	Alam Maritim Resources Berhad		9,155
	576,800	Alliance Financial Group Berhad		791,323
	20,100	Amway Malaysia Holdings Berhad		73,248
	1,315,400	APM Automotive Holdings Berhad(d)		2,441,073
	1,702,376	Axis Real Estate Investment Trust(d)		1,824,626
	32,700	Batu Kawan Berhad		195,068
	108,800	Benalec Holdings Berhad		29,986
	95,933	Berjaya Assets Berhad		24,971
	1,100,600	Berjaya Corp. Berhad		168,519
	162,681	Berjaya Sports Toto Berhad		193,792
	128,600	BIMB Holdings Berhad		167,371
	644,400	Bintulu Port Holdings Berhad(d)		1,480,018
	400	Boustead Heavy Industries Corp. Berhad(b)		311
	365,904	Boustead Holdings Berhad		621,886
	199,500	Bumi Armada Berhad		244,373

Shares			Value
MALAYSIA (continued)
	59,500	Bursa Malaysia Berhad	$	138,296
	41,900	Cahya Mata Sarawak Berhad		122,409
	49,500	Carlsberg Brewery-Malaysia Berhad		190,390
	49,030	CB Industrial Product Holding Berhad		70,568
	25,300	Coastal Contracts Berhad		38,816
	28,650	Dayang Enterprise Holdings Berhad		32,550
	3,831,852	Dialog Group Berhad		4,212,632
	585,500	DRB-Hicom Berhad		448,247
	475,000	Eastern & Oriental Berhad		344,740
	28,100	Engtex Group Berhad		16,522
	116,100	Evergreen Fibreboard Berhad(b)		18,666
	70,300	Faber Group Berhad		63,938
	20,800	Fraser & Neave Holdings Berhad		114,653
	698,100	Gamuda Berhad		985,528
	89,300	Genting Plantations Berhad		303,546
	23,300	Globetronics Technology Berhad		25,687
	125,000	Glomac Berhad		42,107
	59,600	Guinness Anchor Berhad		262,820
	499,380	HAP Seng Consolidated Berhad		484,776
	110,500	Hap Seng Plantations Holdings Berhad		94,748
	1,510,080	Hartalega Holdings Berhad(d)		2,931,835
	19,992	Hock Seng LEE Berhad		11,693
	83,100	Hong Leong Financial Group Berhad		389,352
	51,500	Hong Leong Industries Berhad		104,561
	37,733	Hua Yang Berhad		21,608
	391,730	IGB Corp. Berhad		332,290
	833,940	IJM Corp. Berhad		1,629,318
	192,200	IJM Land Berhad		177,750
	125,900	IJM Plantations Berhad		136,483
	43,848	Integrated Logistics Berhad		10,541
	293,000	Iris Corp. Berhad		41,274
	162,700	JAKS Resources Berhad(b)		27,403
	218,400	JCY International Berhad		49,492
	32,800	JT International Berhad		77,744
	99,279	K&N Kenanga Holdings Berhad(b)		23,714
	44,400	Karambunai Corp. Berhad(b)		1,224
	89,800	Keck Seng (Malaysia) Berhad		193,322
	103,900	Kian JOO CAN Factory Berhad		108,498
	1,976,800	KKB Engineering Berhad(d)		1,519,451
	293,400	KLCC Property Holdings Berhad		598,390
	589,500	KNM Group Berhad(b)		149,835
	38,800	Kossan Rubber Industries		48,715
	2,502,688	KPJ Healthcare Berhad		2,483,145
	83,900	KSL Holdings Berhad(b)		55,240
	370,600	Kulim Malaysia Berhad(b)		400,618
	52,850	Kumpulan Fima Berhad		37,710

Shares			Value
MALAYSIA (continued)
	66,200	Kumpulan Perangsang Selangor Berhad	$	30,814
	87,500	Lafarge Malaysia Berhad		243,569
	232,500	Land & General Berhad(b)		40,583
	157,800	Landmarks Berhad(b)		53,639
	37,900	LBS Bina Group Berhad		20,659
	79,000	Lingkaran Trans Kota Holdings Berhad		94,350
	15,500	LPI Capital Berhad		80,692
	387,807	Mah Sing Group Berhad		268,395
	121,750	Malayan Flour Mills Berhad		58,908
	159,548	Malaysia Airports Holdings Berhad		393,801
	171,750	Malaysia Building Society Berhad		118,865
	14,800	Malaysia Marine and Heavy Engineering Holdings Berhad		17,902
	290,500	Malaysian Airline System Berhad(b)		20,461
	128,900	Malaysian Bulk Carriers Berhad		74,999
	32,000	Malaysian Pacific Industries Berhad		40,962
	291,250	Malaysian Resources Corp. Berhad		140,028
	37,180	MBM Resources Berhad		36,662
	2,645,200	Media Prima Berhad		2,017,011
	18,700	Mega First Corp. Berhad		13,056
	67,500	MKH Berhad		90,537
	460,600	MMC Corp. Berhad		394,941
	45,500	MNRB Holdings Berhad		52,808
	102,700	Mudajaya Group Berhad		81,456
	189,500	Muhibbah Engineering M Berhad		168,290
	690,300	Mulpha International Berhad(b)		90,898
	17,800	My EG Services Berhad		15,045
	50,500	Naim Holdings Berhad		61,704
	157,000	Nam Cheong Ltd.		44,456
	60,300	NCB Holdings Berhad		56,690
	5,000	Nestle Malaysia Berhad		104,884
	102,200	Oriental Holdings Berhad		244,116
	441,390	OSK Holdings Berhad		224,378
	39,200	Padini Holdings Berhad		24,009
	4,300	Panasonic Manufacturing Malaysia Berhad		29,233
	43,120	Paramount Corp. Berhad		22,052
	55,076	Parkson Holdings Berhad		49,586
	45,300	Perisai Petroleum Teknologi Berhad(b)		21,780
	43,000	PJ Development Holdings Berhad		20,147
	142,800	POS Malaysia Berhad		196,785
	55,600	Press Metal Berhad		59,082
	3,838,500	QL Resources Berhad(d)		3,679,224
	36,200	Sarawak Oil Palms Berhad		72,167
	7,600	Scientex Berhad		13,499
	96,800	Scomi Energy Services Berhad(b)		28,606

Shares			Value
MALAYSIA (continued)
	494,800	Scomi Group Berhad(b)	$	64,397
	2,300	Selangor Properties Berhad		3,733
	51,500	Shangri-La Hotels (Malaysia) Berhad		104,561
	28,800	Shell Refining Co. Federation of Malaya Berhad		52,829
	18,690	Subur Tiasa Holdings Berhad		12,935
	443,660	Sunway Berhad		421,175
	99,200	Supermax Corp. Berhad		74,427
	5,400	Syarikat Takaful Malaysia Berhad		20,803
	89,164	Ta Ann Holdings Berhad		114,680
	682,700	TA Enterprise Berhad		169,342
	195,360	TA Global Berhad		18,546
	142,300	TAN Chong Motor Holdings Berhad		248,388
	444,000	TDM Berhad		131,888
	61,440	TH Plantations Berhad		38,194
	315,760	Time dotCom Berhad(b)		385,816
	46,900	Tiong NAM Logistics Holdings		19,245
	120,960	Top Glove Corp. Berhad		177,801
	155,100	Tropicana Corp. Berhad		73,145
	57,200	TSH Resources Berhad		58,680
	377,908	UEM Sunrise Berhad		266,173
	184,300	UMW Holdings Berhad		607,279
	238,900	Unisem (M) Berhad		86,327
	15,000	United Malacca Berhad		32,751
	33,600	United Plantations Berhad		260,322
	132,030	Wah Seong Corp. Berhad		79,651
	473,300	WCT Holdings Berhad		326,114
	7,153,250	Wellcall Holdings Berhad(d)		3,154,396
	170,700	WTK Holdings Berhad		69,524
	140,671	YNH Property Berhad		84,864
	876,900	YTL Corp. Berhad		432,341
	41,000	YTL Land & Development Berhad(b)		11,802
	439,005	YTL Power International Berhad(b)		211,067
	25,600	Zhulian Corp. Berhad		22,735
				46,382,388
MALTA — 0.0%
	10,206	Brait SE(b)		54,976
	8,169	Unibet Group Plc - SDR		440,349
				495,325
MEXICO — 0.5%
	1,173,739	Alfa SAB de CV - Series A		3,100,603
	76,868	Alsea SAB de CV		265,574
	299,300	Arca Continental SAB de CV		1,903,404
	1,673,300	Asesor de Activos Prisma SAPI de CV REIT(d)		2,175,600
	467,240	Axtel SAB de CV - CPO Units(b)		155,357
	4,984	Bio Pappel SAB de CV(b)		10,606
	750,900	Bolsa Mexicana de Valores SAB de CV		1,541,088

Shares			Value
MEXICO (continued)
	1,800	Cia Minera Autlan SAB de CV - Series B	$	1,885
	6,400	Concentradora Fibra Hotelera Mexicana SA de CV REIT		10,571
	147,024	Consorcio ARA SAB de CV(b)		64,731
	227,687	Controladora Comercial Mexicana SAB de CV - Units		851,906
	1,456,300	Corp Inmobiliaria Vesta SAB de CV		2,960,966
	800	Corp. Actinver SAB de CV		887
	78,869	Corp. GEO SAB de CV - Series B(b)		1,380
	61,938	Corp. Interamericana de Entretenimiento SAB de CV - Series B(b)(d)		44,029
	27,300	Corp. Moctezuma SAB de CV		83,469
	136,820	Empresas ICA SAB de CV(b)		244,927
	1,947,800	Fibra Shop Portafolios Inmobiliarios SAPI de CV REIT		2,547,389
	10,800	Financiera Independencia SAB de CV(b)		4,260
	159,527	Genomma Lab Internacional SAB de CV - Class B(b)		406,050
	53,869	Gruma SAB de CV - Series B(b)		476,402
	29,269	Grupo Aeromexico SAB de CV(b)		47,541
	109,917	Grupo Aeroportuario del Centro Norte SAB de CV		402,776
	430,800	Grupo Aeroportuario del Pacifico SAB de CV - Series B		2,593,806
	164,456	Grupo Aeroportuario del Sureste SAB de CV - Series B		2,018,436
	1,600	Grupo Carso SAB de CV - Series A1		8,152
	120,492	Grupo Cementos de Chihuahua SAB de CV(d)		359,098
	45,878	Grupo Comercial Chedraui SA de CV		139,288
	61,867	Grupo Famsa SAB de CV(b)		84,647
	12,100	Grupo Financiero Interacciones SA de CV		73,066
	34,081	Grupo Herdez SAB de CV		101,883
	57,500	Grupo Industrial Maseca SAB de CV - Series B		89,616
	12,400	Grupo Industrial Saltillo SAB de CV		26,169
	11,600	Grupo KUO SAB de CV - Series B		23,213
	45,400	Grupo Simec SAB de CV - Series B(b)		170,978
	264,100	Impulsora del Desarrollo y El Empleo en America Latina SAB de CV(b)		607,827
	10,860	Industrias Bachoco SAB de CV - Series B		39,845

Shares			Value
MEXICO (continued)
	170,175	Industrias CH SAB de CV - Series B(b)	$	907,930
	17,468	Industrias Penoles SAB de CV		406,687
	11,100	Inmuebles Carso SAB de CV - Series B1(b)		11,573
	315,968	Kimberly-Clark de Mexico SAB de CV - Class A		824,532
	1,544,600	Macquarie Mexico Real Estate Management SA de CV REIT		2,952,777
	100	Medica Sur SAB de CV - Series B		340
	33,400	Megacable Holdings SAB de CV - CPO Shares		132,806
	523,852	Mexichem SAB de CV		1,952,020
	117,771	Minera Frisco SAB de CV(b)		215,328
	269,422	OHL Mexico SAB de CV(b)		717,278
	146,807	Organizacion Soriana SAB de CV - Series B(b)		425,404
	59,600	Promotora y Operadora de Infraestructura SAB de CV(b)		832,266
	46,400	Qualitas Controladora SAB de CV - Units		134,950
	427,400	TV Azteca SAB de CV - CPO Shares		234,237
	67,123	Urbi Desarrollos Urbanos SAB de CV(b)(d)		134
				33,385,687
MONGOLIA — 0.0%
	274,500	Mongolian Mining Corp.(b)		22,660
NETHERLANDS — 1.1%
	47,325	Aalberts Industries NV		1,574,764
	12,171	Accell Group NV		241,799
	21,701	AMG Advanced Metallurgical Group NV(b)		218,154
	4,482	Amsterdam Commodities NV		111,304
	12,038	Arcadis NV		427,209
	27,444	ASM International NV		1,199,152
	33,735	BE Semiconductor Industries NV		575,667
	5,643	Beter Bed Holding NV		133,755
	88,005	BinckBank NV		994,085
	4,006	Brunel International NV		271,522
	16,799	Corbion NV		388,978
	4,310	Corio NV REIT		201,717
	121,544	Delta Lloyd NV		3,196,263
	2,240	Exact Holding NV		78,935
	84,000	Frank’s International NV		2,304,120
	26,304	Fugro NV - CVA		1,741,253
	25,465	Gemalto NV		2,851,034
	2,565	Global City Holdings NV(b)		29,736
	20,382	Grontmij(b)		108,866
	12,777	Heijmans NV - CVA		229,199
	654	Hunter Douglas NV		32,841
	4,538	KAS Bank NV - CVA		66,987
	5,597	Kendrion NV		190,630
	163,984	Koninklijke BAM Groep NV		887,488

Shares			Value
NETHERLANDS (continued)
	480,476	Koninklijke Boskalis Westminster NV	$	27,216,752
	16,751	Koninklijke Ten Cate NV		498,603
	15,051	Koninklijke Vopak NV		749,313
	68,974	Koninklijke Wessanen NV		407,452
	981	Macintosh Retail Group NV(b)		10,659
	95	Nederland Apparatenfabriek		4,220
	37,423	Nutreco NV		1,737,200
	40,204	Ordina NV(b)		115,793
	97,294	PostNL NV(b)		426,809
	348,936	QIAGEN NV(b)(f)		7,638,058
	98,000	QIAGEN NV(b)(f)		2,146,200
	113,540	Randstad Holding NV		6,600,851
	84,039	Royal Imtech NV(b)		164,277
	93,420	SBM Offshore NV(b)		1,706,263
	11,287	Sligro Food Group NV		472,901
	86,230	SNS REAAL NV(b)(c)(d)		0
	5,125	Telegraaf Media Groep NV - CVA		48,136
	15,951	TKH Group NV		555,452
	149,781	TNT Express NV		1,348,611
	60,046	TomTom NV(b)		426,770
	68,932	USG People NV		1,188,235
	57,795	Wolters Kluwer NV		1,609,248
	15,849	Ziggo NV		687,787
				73,815,048
NEW ZEALAND — 0.4%
	30,797	a2 Milk Co. Ltd.(b)		21,511
	293,815	Air New Zealand Ltd.		532,048
	3,774,353	Auckland International Airport Ltd.(d)		12,920,845
	29,737	Chorus Ltd.		45,387
	172,372	Contact Energy Ltd.		845,740
	19,426	Ebos Group Ltd.		157,460
	68,000	Fisher & Paykel Healthcare Corp. Ltd.		239,823
	31,055	Freightways Ltd.		133,893
	6,326	Hallenstein Glasson Holdings Ltd.		18,929
	38,459	Heartland New Zealand Ltd.		29,184
	67,426	Infratil Ltd.		133,725
	43,820	Kathmandu Holdings Ltd.		137,919
	32,296	Mainfreight Ltd.		373,174
	10,981	Metlifecare Ltd.		39,012
	49,457	New Zealand Oil & Gas Ltd.		33,051
	28,457	New Zealand Refining Co. Ltd. (The)		46,132
	105,740	Nuplex Industries Ltd.		319,128
	45,243	NZX Ltd.		48,766
	73,491	PGG Wrightson Ltd.		25,665
	80,140	Pike River Coal Ltd.(b)(c)(d)		0
	56,739	Port of Tauranga Ltd.		704,534
	13,536	Pumpkin Patch Ltd.(b)		6,303
	19,670	Restaurant Brands New Zealand Ltd.		53,428

Shares			Value
NEW ZEALAND (continued)
	15,128	Sanford Ltd.	$	54,528
	51,422	Skellerup Holdings Ltd.		78,927
	194,936	Sky Network Television Ltd.		1,124,543
	2,188,507	SKYCITY Entertainment Group Ltd.		7,982,633
	495,193	Telecom Corp of New Zealand Ltd.		1,182,802
	47,121	Tower Ltd.		65,824
	85,093	Trade Me Group Ltd.		289,834
	29,035	TrustPower Ltd.		167,747
	58,037	Vector Ltd.		128,116
	43,509	Warehouse Group Ltd. (The)		127,185
				28,067,796
NORWAY — 0.2%
	16,034	ABG Sundal Collier Holding ASA		14,836
	1,309	AF Gruppen ASA		16,901
	31,265	Agasti Holding ASA(b)		6,995
	11,391	Aker ASA - Class A		385,174
	1,466	American Shipping ASA(b)		10,999
	34,500	Atea ASA		396,115
	45,363	Austevoll Seafood ASA		293,044
	5,832	Bonheur ASA		113,318
	213,803	BW Offshore Ltd.		279,110
	36,594	BWG Homes ASA(b)		72,027
	55,760	Cermaq ASA		658,974
	136,488	DNO International ASA(b)		473,229
	15,325	DOF ASA(b)		70,382
	72,307	Dolphin Group AS(b)		70,308
	7,264	Ekornes ASA		115,175
	154,310	Eltek ASA		211,568
	13,809	Evry ASA		23,811
	142,851	Farstad Shipping ASA(d)		2,943,870
	15,475	Fred Olsen Energy ASA		492,291
	7,560	Ganger Rolf ASA		141,171
	10,278	Grieg Seafood ASA(b)		41,843
	8,567	Hexagon Composites ASA		53,037
	35,888	Hurtigruten ASA(b)		26,504
	272,219	Kongsberg Automotive Holding ASA(b)		272,938
	14,697	Kongsberg Gruppen ASA		344,907
	40,131	Kvaerner ASA		80,339
	5,665	Leroy Seafood Group ASA		200,133
	10,381	Nordic Semiconductor ASA(b)		58,154
	37,783	Norske Skogindustrier ASA(b)		28,603
	6,124	Norwegian Air Shuttle AS(b)		243,134
	4,477	Odfjell SE - Class A(b)		22,369
	23,394	Opera Software ASA		301,856
	150,331	Panoro Energy ASA(b)		83,963
	148,455	Petroleum Geo-Services ASA		1,789,412
	3,052	PhotoCure ASA(b)		12,939
	6,386	Q-Free ASA(b)		15,792
	1,149,010	REC Silicon ASA(b)		639,423
	11,533	REC Solar ASA(b)		173,646
	6,706	Salmar ASA(b)		97,019

Shares			Value
NORWAY (continued)
	81,398	Sevan Drilling AS(b)	$	43,134
	5,087	Sevan Marine ASA(b)		20,368
	80,919	Siem Offshore, Inc.(b)		122,516
	7,210	Solstad Offshore ASA		132,815
	29,923	SpareBank 1 SMN		265,538
	46,454	SpareBank 1 SR Bank ASA		449,356
	204,337	Storebrand ASA(b)		1,145,384
	16,977	TGS Nopec Geophysical Co. ASA		585,483
	50,237	Tomra Systems ASA		466,934
	3,670	TTS Group ASA		4,013
	131,000	Vard Holdings Ltd.(b)		100,834
	26,254	Veidekke ASA		281,563
	16,404	Wilh Wilhelmsen ASA		158,678
	3,850	Wilh Wilhelmsen Holding ASA		122,088
				15,174,013
PERU — 0.1%
	988,227	Alicorp SA(d)		2,984,921
	2,331,945	Ferreycorp SAA		1,387,123
				4,372,044
PHILIPPINES — 0.2%
	74,100	Alliance Global Group, Inc.		51,777
	68,800	Atlas Consolidated Mining & Development		22,841
	234,966	Belle Corp.(b)		31,466
	109,606	China Banking Corp.		135,348
	245,740	DMCI Holdings, Inc.		395,786
	72,800	EEI Corp.		19,433
	2,243,800	Energy Development Corp.		281,356
	3,472,375	Filinvest Land, Inc.		123,846
	307,300	First Gen Corp.		130,971
	213,520	First Philippine Holdings Corp.		340,061
	465,000	Global-Estate Resorts, Inc.(b)		20,548
	10,535	Globe Telecom, Inc.		391,577
	14,287,500	GMA Holdings, Inc. - PDR(d)		2,515,856
	237,090	International Container Terminal Services, Inc.		574,909
	137,660	Jollibee Foods Corp.		531,124
	93,834	Lafarge Republic, Inc.		21,175
	1,379,000	Lopez Holdings Corp.		140,746
	5,479,700	Manila Water Co., Inc.(d)		3,275,774
	10,796,696	Megaworld Corp.		1,126,170
	777,000	Metro Pacific Investments Corp.		88,367
	390,751	Metropolitan Bank & Trust Co.		742,409
	3,353,000	Nickel Asia Corp.(d)		1,842,721
	623,000	Pepsi-Cola Products Philippines, Inc.		69,874
	14,040	Philippine National Bank(b)		27,431
	126,720	Philweb Corp.		14,525
	135,000	Rizal Commercial Banking Corp.		145,357
	538,500	Robinsons Land Corp.		269,371
	38,150	San Miguel Corp.		71,456
	206,241	Security Bank Corp.		555,620

Shares			Value
PHILIPPINES (continued)
	30,030	Semirara Mining Corp.	$	276,858
	1,696	Top Frontier Investment Holdings, Inc.(b)		3,557
	102,600	Union Bank of Philippines, Inc.		292,518
	244,165	Universal Robina Corp.		799,643
	2,843,000	Vista Land & Lifescapes, Inc.		384,551
				15,715,022
POLAND — 0.1%
	655	Alior Bank SA(b)		17,268
	1,432	AmRest Holdings SE(b)		38,699
	38,719	Asseco Poland SA		575,481
	14,853	Bank Handlowy w Warszawie SA		551,901
	98,999	Bank Millennium SA(b)		290,688
	37,570	Boryszew SA(b)		54,599
	6,112	Budimex SA		284,237
	447	CCC SA		18,750
	7,564	CD Projekt SA(b)		37,450
	10,830	Ciech SA(b)		115,967
	20,972	Cyfrowy Polsat SA(b)		142,346
	1,000	Dom Development SA		15,358
	2,276	Emperia Holding SA		50,366
	69,817	Enea SA(b)		352,354
	32,056	Eurocash SA		422,981
	12,342	Famur SA(b)		17,896
	5,542	Farmacol SA(b)		92,512
	207,050	Getin Holdings SA		218,153
	594,239	Getin Noble Bank SA(b)		722,276
	13,281	Grupa Azoty SA		262,975
	3,848	Grupa Kety SA		276,877
	29,265	Grupa Lotos SA(b)		376,971
	12,693	Hawe SA(b)		12,326
	34,084	Impexmetal SA(b)		29,045
	3,436	ING Bank Slaski SA(b)		154,343
	2,620	Inter Cars SA(b)		163,553
	350	LPP SA		906,313
	13,581	Lubelski Wegiel Bogdanka SA		555,100
	6,150	mBank		1,005,483
	209,106	Netia SA(b)		373,644
	131	Neuca SA		10,248
	44,811	Orange Polska SA		153,038
	10,774	Orbis SA		139,495
	2,139	Pelion SA		54,400
	1,233	Polski Koncern Naftowy Orlen SA		18,448
	158	Stalprodukt SA		12,525
	189,425	Synthos SA		297,810
	564,742	Tauron Polska Energia SA		997,926
	37,193	TVN SA		202,325
	2,139	Warsaw Stock Exchange		26,705
	119	Zaklady Chemiczne Police SA		809
				10,049,641
PORTUGAL — 0.1%
	16,720	Altri SGPS SA		56,739

Shares			Value
PORTUGAL (continued)
	189,489	Banco BPI SA(b)	$	486,078
	4,515,576	Banco Comercial Portugues SA(b)		1,371,963
	923,042	Banco Espirito Santo SA(b)		1,634,020
	2,336	Corticeira Amorim SGPS SA		9,982
	49,289	Mota-Engil SGPS SA		376,574
	272	Novabase SGPS SA		1,498
	87,362	Portucel SA		413,903
	48,971	Portugal Telecom SGPS SA		203,819
	17,871	REN - Redes Energeticas Nacionais SGPS SA		67,140
	30,205	Semapa - Sociedade de Investimento e Gestao		453,201
	294,149	Sonae		552,550
	35,736	Sonae Industria SGPS SA(b)		30,292
	11,475	Teixeira Duarte SA		17,655
	60,328	Zon Optimus SGPS SA		435,135
				6,110,549
QATAR — 0.1%
	136,557	Gulf International Services OSC		3,375,621
SINGAPORE — 1.6%
	23,000	Abterra Ltd.(b)		10,824
	22,000	Amara Holdings Ltd.		9,388
	2,615,000	Ascendas India Trust - Unit(d)		1,595,657
	7,901,000	Ascendas Real Estate Investment Trust		14,431,914
	155,400	ASL Marine Holdings Ltd.		89,246
	291,000	Ausgroup Ltd.(b)		105,611
	184,000	Banyan Tree Holdings Ltd.		92,462
	211,000	Biosensors International Group Ltd.		159,887
	7,400	Bonvests Holdings Ltd.		7,968
	105,000	Boustead Singapore Ltd.		158,710
	39,000	Breadtalk Group Ltd.		43,551
	40,000	Bukit Sembawang Estates Ltd.		186,648
	16,113	Cape Plc		81,683
	12,858,000	CapitaMall Trust REIT		20,460,804
	111,000	CH Offshore Ltd.		37,186
	42,000	China Aviation Oil Singapore Corp. Ltd.		29,146
	51,000	China Merchants Holdings Pacific Ltd.		39,256
	192,000	Chip Eng Seng Corp. Ltd.		117,157
	331,000	ComfortDelGro Corp. Ltd.		559,719
	464,000	Cosco Corp. Singapore Ltd.		266,475
	303,000	CSC Holdings Ltd.		20,543
	110,000	CSE Global Ltd.		52,205
	96,000	CWT Ltd.		111,414
	13,000	Elec & Eltek International Co. Ltd.		20,605
	14,000	Ellipsiz Ltd.		994
	15,600	Eu Yan Sang International Ltd.		10,266
	99,600	Ezion Holdings Ltd.		180,340
	8,876,400	Ezra Holdings Ltd.		7,434,171
	100,000	Falcon Energy Group Ltd.		27,917

Shares			Value
SINGAPORE (continued)
	130,121	Far East Orchard Ltd.	$	194,087
	179,000	First Resources Ltd.		366,938
	183,000	FJ Benjamin Holdings Ltd.		31,383
	28,000	Food Empire Holdings Ltd.		8,710
	8,000	Forterra Trust - Units(b)		11,326
	657,000	Fragrance Group Ltd.		131,012
	306,000	Gallant Venture Ltd.(b)		73,223
	2,000	GK Goh Holdings Ltd.		1,340
	537,000	GMG Global Ltd.		38,550
	89,000	Goodpack Ltd.		170,376
	80,000	GP Industries Ltd.		29,353
	145,666	Guocoland Ltd.		247,482
	111,000	GuocoLeisure Ltd.		85,439
	21,000	Hanwell Holdings Ltd.(b)		4,355
	252,875	Healthway Medical Corp. Ltd.(b)		12,909
	113,000	HG Metal Manufacturing Ltd.		8,473
	32,000	Hiap Hoe Ltd.		23,227
	55,000	Hi-P International Ltd.		25,445
	151,000	Ho Bee Land Ltd.		275,816
	274,800	Hong Fok Corp. Ltd.		177,545
	131,000	Hong Leong Asia Ltd.		166,663
	137,600	Hotel Properties Ltd.		408,289
	3,000	Hour Glass Ltd. (The)		4,068
	65,000	HupSteel Ltd.		10,888
	6,509,000	Hyflux Ltd.(d)		6,230,199
	186,000	Indofood Agri Resources Ltd.		158,004
	397,000	IPC Corp. Ltd.		47,499
	154,000	Jaya Holdings Ltd.		97,655
	101,000	Jiutian Chemical Group Ltd.(b)		5,881
	92,950	Jurong Technologies Industrial Corp. Ltd.(b)(c)(d)		0
	304,000	K1 Ventures Ltd.		47,769
	13,000	Keppel Infrastructure Trust - Units		10,888
	189,000	Keppel Land Ltd.		521,608
	34,000	Keppel Telecommunications & Transportation Ltd.		48,409
	195,000	LCD Global Investments Ltd.		28,308
	202,000	Lian Beng Group Ltd.		112,786
	66,000	Low Keng Huat Singapore Ltd.		36,588
	75,000	Lum Chang Holdings Ltd.		20,938
	120,000	M1 Ltd.		321,608
	6,000	Marco Polo Marine Ltd.		1,795
	351,800	Metro Holdings Ltd.		258,161
	153,000	Mewah International, Inc.		57,358
	448,000	Midas Holdings Ltd.		167,951
	362,000	Neptune Orient Lines Ltd.(b)		293,076
	25,000	NSL Ltd.		31,407
	782,000	Olam International Ltd.		1,390,971
	32,238	OM Holdings Ltd.(b)		10,033
	32,000	OSIM International Ltd.		74,021
	28,666	OUE Hospitality Trust REIT		19,893
	172,000	OUE Ltd.		311,430
	66,000	Oxley Holdings Ltd.		40,799
	21,000	Pan-United Corp. Ltd.		17,337

Shares			Value
SINGAPORE (continued)
	60,000	Petra Foods Ltd.	$	169,897
	165,000	Popular Holdings Ltd.		35,535
	110,983	QAF Ltd.		79,672
	219,250	Raffles Education Corp. Ltd.(b)		51,590
	45,720	Raffles Medical Group Ltd.		132,379
	150,000	Rickmers Maritime - Units		34,697
	121,000	Rotary Engineering Ltd.		68,525
	217,500	Roxy-Pacific Holdings Ltd.		98,020
	1,594,000	S i2i Ltd.(b)		10,171
	17,000	San Teh Ltd.		4,339
	5,340,000	SATS Ltd.(d)		13,502,273
	5,000	SBS Transit Ltd.		4,985
	54,000	Sheng Siong Group Ltd.		27,351
	4,621,000	SIA Engineering Co. Ltd.(d)		17,655,412
	100,500	Sim Lian Group Ltd.		69,341
	569,000	Sinarmas Land Ltd.		240,544
	346,000	Singapore Post Ltd.		390,516
	174,000	Singapore Reinsurance Corp. Ltd.(d)		38,167
	133,000	SMRT Corp. Ltd.		129,425
	484,000	Stamford Land Corp. Ltd.		229,704
	3,507,000	StarHub Ltd.(d)		11,608,878
	183,000	Sunningdale Tech Ltd.		23,793
	184,000	SunVic Chemical Holdings Ltd.(b)		70,447
	99,000	Super Group Ltd.		276,382
	395,000	Swiber Holdings Ltd.		201,643
	143,000	Tat Hong Holdings Ltd.		92,391
	54,000	Technovator International Ltd.(b)		28,487
	219,000	Tiong Woon Corp. Holding Ltd.		56,772
	25,540	Triyards Holdings Ltd.		12,936
	408,784	Tuan Sing Holdings Ltd.		114,122
	149,000	UMS Holdings Ltd.		102,209
	336,254	United Engineers Ltd.		579,332
	103,000	United Envirotech Ltd.		107,215
	420,000	United Industrial Corp. Ltd.(d)		1,122,278
	232,000	UOB-Kay Hian Holdings Ltd.(d)		311,813
	302,000	UOL Group Ltd.		1,546,494
	98,000	Venture Corp. Ltd.		599,553
	686,666	Vibrant Group Ltd.		55,867
	209,812	Wheelock Properties (Singapore) Ltd.		314,626
	281,420	Wing Tai Holdings Ltd.		448,943
	1,436	XP Power Ltd.		39,762
	37,000	YHI International Ltd.		6,935
	522,000	Yongnam Holdings Ltd.		99,928
				110,004,365
SOUTH AFRICA — 0.5%
	239,156	Adcock Ingram Holdings Ltd.		1,386,675
	3,244	Adcorp Holdings Ltd.		9,882
	114,293	Advtech Ltd.		93,755
	59,169	Aeci Ltd.		660,839
	296,122	African Bank Investments Ltd.		350,995

Shares			Value
SOUTH AFRICA (continued)
	2,145	African Oxygen Ltd.	$	4,218
	50,790	African Rainbow Minerals Ltd.		954,488
	13,164	Allied Electronics Corp. Ltd.		30,468
	561	Assore Ltd.		21,928
	11,620	Astral Foods Ltd.		105,481
	91,296	Aveng Ltd.(b)		196,121
	110,010	AVI Ltd.		606,595
	118,081	Barloworld Ltd.		1,286,371
	28,795	Blue Label Telecoms Ltd.		24,962
	32,224	Business Connexion Group Ltd.		17,336
	10,355	Capitec Bank Holdings Ltd.		223,901
	2,456	Cashbuild Ltd.		29,298
	57,968	Caxton and CTP Publishers and Printers Ltd.		88,160
	7,765	City Lodge Hotels Ltd.		91,050
	391,378	Clicks Group Ltd.		2,386,474
	1,776	Consolidated Infrastructure Group Ltd.(b)		4,837
	44,626	Coronation Fund Managers Ltd.		430,502
	107,631	DataTec Ltd.		541,096
	77,015	Discovery Ltd.		667,627
	7,529	Distell Group Ltd.		89,456
	968	Distribution and Warehousing Network Ltd.		939
	172,335	DRDGOLD Ltd.		54,839
	200,332	EOH Holdings Ltd.		1,599,533
	44,471	Eqstra Holdings Ltd.		30,858
	1,244	Famous Brands Ltd.		12,475
	54,199	Foschini Group Ltd. (The)		558,965
	289,247	Gold Fields Ltd.		1,201,748
	7,837	Grand Parade Investments Ltd.		4,023
	152,440	Grindrod Ltd.		360,796
	22,637	Group Five Ltd.		93,126
	92,922	Harmony Gold Mining Co. Ltd.(b)		307,193
	14,422	Hudaco Industries Ltd.		143,788
	6,374	Hulamin Ltd.(b)		4,423
	14,767	Hyprop Investments Ltd. - Units		110,368
	8,550	Iliad Africa Ltd.		5,209
	54,124	Illovo Sugar Ltd.		149,194
	93,834	Imperial Holdings Ltd.		1,747,620
	1,932	Invicta Holdings Ltd.		22,020
	23,742	JD Group Ltd.		62,060
	25,640	JSE Ltd.		235,185
	1,143	KAP Industrial Holdings Ltd.		445
	35,342	Lewis Group Ltd.		209,623
	59,244	Liberty Holdings Ltd.		709,712
	189,019	Life Healthcare Group Holdings Ltd.		750,470
	20,252	Massmart Holdings Ltd.		268,057
	47,254	Mediclinic International Ltd.		330,133
	106,290	Merafe Resources Ltd.(b)		11,214
	29,353	Metair Investments Ltd.		118,522
	317,966	MMI Holdings Ltd.		797,900
	17,063	Mondi Ltd.		283,829

Shares			Value
SOUTH AFRICA (continued)
	48,758	Mr. Price Group Ltd.	$	733,653
	14,612	Murray & Roberts Holdings Ltd.(b)		34,167
	202,370	Nampak Ltd.		754,042
	261,524	Netcare Ltd.		633,892
	72,276	Northam Platinum Ltd.(b)		281,671
	219,663	Oceana Group Ltd.(d)		1,879,157
	20,617	Omnia Holdings Ltd.		442,892
	50,737	Peregrine Holdings Ltd.		93,078
	4,111	Petmin Ltd.		1,063
	45,606	Pick’n Pay Stores Ltd.		260,055
	17,834	Pinnacle Holdings Ltd.		22,037
	218,150	Pioneer Foods Ltd.		1,949,156
	94,568	PPC Ltd.		275,061
	50,557	PSG Group Ltd.		500,644
	26,665	Raubex Group Ltd.		55,127
	17,348	Resilient Property Income Fund Ltd. REIT		94,958
	55,765	Reunert Ltd.		365,742
	11,250	Santam Ltd.		226,700
	321,066	Sappi Ltd.(b)		1,016,559
	191,700	Sibanye Gold Ltd.		495,627
	38,542	Spar Group Ltd. (The)		452,444
	7,238	Spur Corp. Ltd.		20,640
	232,155	Steinhoff International Holdings Ltd.		1,205,074
	12,978	Sun International Ltd.		128,294
	147,800	Super Group Ltd.(b)		398,001
	168,349	Telkom SA SOC Ltd.(b)		601,675
	14,182	Times Media Group Ltd.		28,457
	13,752	Tongaat Hulett Ltd.		163,395
	24,146	Trencor Ltd.		171,080
	80,984	Truworths International Ltd.		649,304
	46,017	Tsogo Sun Holdings Ltd.		120,286
	9,811	Wilson Bayly Holmes-Ovcon Ltd.		126,810
	191,832	Woolworths Holdings Ltd.		1,303,739
	211,907	Zeder Investments Ltd.		88,223
				36,059,485
SOUTH KOREA — 1.4%
	2,211	Able C&C Co. Ltd.		63,336
	850	Actoz Soft Co. Ltd.(b)		27,763
	4,636	Advanced Process Systems Corp.(b)		39,033
	807	Ahnlab, Inc.		41,471
	5,000	AJ Rent A Car Co. Ltd.(b)		80,083
	1,511	AK Holdings, Inc.		77,941
	599	AMOREPACIFIC Corp.		773,894
	1,128	AMOREPACIFIC Group		582,940
	4,859	Amotech Co. Ltd.(b)		64,423
	2,247	Anapass, Inc.		25,008
	931	Asia Cement Co. Ltd.		99,110
	408	ASIA Holdings Co. Ltd.		57,056
	2,330	Asia Paper Manufacturing Co. Ltd.		43,182

Shares			Value
SOUTH KOREA (continued)
	32,680	Asiana Airlines, Inc.(b)	$	155,762
	2,778	AtlasBX Co. Ltd.		112,916
	14,750	AUK Corp.(b)		32,403
	4,460	Baiksan Co. Ltd.		22,186
	2,450	Basic House Co. Ltd. (The)		55,601
	2,634	BH Co. Ltd.(b)		25,491
	1,657	Binggrae Co. Ltd.		150,738
	1,230	Bioland Ltd.		17,677
	93,070	BS Financial Group, Inc.		1,423,116
	1,443	Bukwang Pharmaceutical Co. Ltd.		20,319
	2,010	Byucksan Corp.		6,069
	6,790	Capro Corp.(b)		30,490
	3,695	Celltrion Pharm, Inc.(b)		42,911
	7,727	Celltrion, Inc.(b)		359,691
	8,822	Chabio & Diostech Co. Ltd.(b)(c)		138,311
	17,249	Cheil Industries, Inc.		1,100,077
	19,930	Cheil Worldwide, Inc.(b)		484,122
	594	Chemtronics Co. Ltd.		9,111
	393	Chin Hung International, Inc.(b)		571
	2,790	Chong Kun Dang Pharmaceutical Corp.		198,186
	1,079	Chongkundang Holdings Corp.		51,898
	73	Chosun Refractories Co. Ltd.		6,712
	1,970	CJ CGV Co. Ltd.		91,608
	3,911	CJ CheilJedang Corp.		1,173,338
	9,547	CJ Corp.		1,154,916
	9,437	CJ E&M Corp.(b)		460,297
	2,137	CJ Korea Express Co. Ltd.(b)		225,426
	565	CJ O Shopping Co. Ltd.		199,470
	2,330	CKD Bio Corp.		33,485
	544	Cosmax BTI, Inc.		22,191
	1,065	Cosmax, Inc.(b)		71,632
	11,039	Coway Co. Ltd.		870,685
	329	Crown Confectionery Co. Ltd.		94,086
	3,620	Dae Dong Industrial Co. Ltd.		32,581
	675	Dae Han Flour Mills Co. Ltd.		96,681
	16,020	Dae Won Kang Up Co. Ltd.		102,325
	28,100	Dae Young Packaging Co. Ltd.(b)		21,348
	20,010	Daechang Co. Ltd.(b)		18,319
	21,610	Daeduck Electronics Co.		159,152
	9,560	Daeduck GDS Co. Ltd.		157,745
	4,330	Daegu Department Store		98,057
	3,410	Daehan Steel Co. Ltd.		22,771
	6,480	Dae-Il Corp.		28,189
	10,500	Daekyo Co. Ltd.		67,575
	22,484	Daelim Industrial Co. Ltd.		1,829,967
	7,510	Daesang Corp.		296,533
	4,530	Daesang Holdings Co. Ltd.		55,896
	4,240	Daesung Holdings Co. Ltd.		43,085
	3,520	Daesung Industrial Co. Ltd.(b)		16,215
	3,074	Daewon San Up Co. Ltd.		27,637

Shares			Value
SOUTH KOREA (continued)
	49,915	Daewoo Engineering & Construction Co. Ltd.(b)	$	413,503
	13,072	Daewoo International Corp.		458,589
	67,196	Daewoo Securities Co. Ltd.(b)		550,158
	29,870	Daewoo Shipbuilding & Marine Engineering Co. Ltd.		864,331
	844	Daewoong Co. Ltd.		31,855
	1,866	Daewoong Pharmaceutical Co. Ltd.		126,411
	22,130	Daishin Securities Co. Ltd.		199,819
	9,386	Daou Data Corp.		50,777
	20,410	Daou Technology, Inc.		284,432
	12,865	Dasan Networks, Inc.(b)		76,819
	2,145	Daum Communications Corp.		155,483
	3,090	DCM Corp.		33,642
	72,790	DGB Financial Group, Inc.		1,102,452
	3,331	Digitech Systems Co. Ltd.(b)(c)(d)		6,834
	1,360	Dong Ah Tire & Rubber Co. Ltd.		25,205
	647	Dong-A Socio Holdings Co. Ltd.		81,399
	4,050	Dong-Ah Geological Engineering Co. Ltd.		33,197
	5,230	Dongaone Co. Ltd.		14,425
	330	Dongbang Transport Logistics Co. Ltd.		755
	12,536	Dongbu HiTek Co. Ltd.(b)		84,439
	17,921	Dongbu Insurance Co. Ltd.		988,577
	12,350	Dongbu Securities Co. Ltd.		44,222
	9,800	Dongbu Steel Co. Ltd.(b)		29,496
	754	Dong-IL Corp.		54,728
	841	Dongil Industries Co. Ltd.		42,078
	5,286	Dongjin Semichem Co. Ltd.		19,874
	11,110	Dongkook Industrial Co. Ltd.(b)		34,406
	433	DongKook Pharmaceutical Co. Ltd.		14,206
	2,076	Dongkuk Industries Co. Ltd.		7,012
	9,222	Dongkuk Steel Mill Co. Ltd.		88,356
	8,190	Dongkuk Structures & Construction Co. Ltd.		44,148
	3,480	Dongsuh Co, Inc.		53,212
	9,440	Dongsung Holdings Co. Ltd.		53,262
	7,740	Dongwha Pharmaceutical Co. Ltd.		44,943
	531	Dongwon F&B Co. Ltd.		103,548
	496	Dongwon Industries Co. Ltd.		155,765
	2,049	Dongyang E&P, Inc.		39,560
	10,510	Dongyang Mechatronics Corp.		101,103
	5,324	Doosan Corp.		685,272
	17,120	Doosan Engine Co. Ltd.(b)		143,647
	32,553	Doosan Heavy Industries & Construction Co. Ltd.		1,096,336
	56,910	Doosan Infracore Co. Ltd.(b)		685,696
	3,902	DRB Holding Co. Ltd.		40,972
	2,468	Duksan Hi-Metal Co. Ltd.(b)		45,739

Shares			Value
SOUTH KOREA (continued)
2,470		Duzon Bizon Co. Ltd.	$	29,163
	270	E1 Corp.		18,343
	3,050	Eagon Industries Co. Ltd.		52,245
	9,342	Easy Bio, Inc.		51,262
	3,233	e-LITECOM Co. Ltd.		58,665
	4,200	ELK Corp.(b)		26,298
	4,503	E-Mart Co. Ltd.		1,028,460
	1,726	ENF Technology Co. Ltd.		15,334
	1,366	Eo Technics Co. Ltd.		91,216
	3,850	Estechpharma Co. Ltd.		35,471
	23,624	Eugene Corp.		87,221
	2,426	Eugene Technology Co. Ltd.		52,356
	5,387	EVERDIGM Corp.		42,281
	1,669	Fila Korea Ltd.		145,208
	4,623	Flexcom, Inc.(b)		50,333
	2,079	Fursys, Inc.		57,744
	520	Gaon Cable Co. Ltd.		15,349
	3,053	Global & Yuasa Battery Co. Ltd.		146,401
	27,104	GNCO Co. Ltd.(b)		34,624
	5,874	Golfzon Co. Ltd.		106,872
	61,340	Grand Korea Leisure Co. Ltd.		2,555,586
	1,018	Green Cross Corp.		125,612
	9,290	Green Cross Holdings Corp.		127,667
	8,873	GS Engineering & Construction Corp.(b)		311,710
	2,370	GS Global Corp.		22,065
	33,465	GS Holdings		1,557,792
	600	GS Home Shopping, Inc.		135,469
	12,940	GS Retail Co. Ltd.		359,410
	384	Gwangju Shinsegae Co. Ltd.		88,447
	7,310	Halla Corp.(b)		51,148
	12,680	Halla Visteon Climate Control Corp.		528,896
	120,550	Han Kuk Carbon Co. Ltd.		862,155
	3,827	Hana Micron, Inc.(b)		22,333
	1,732	Hana Tour Service, Inc.		110,963
	174	Handok, Inc.		3,696
	9,530	Handsome Co. Ltd.		240,717
	1,726	Hanil Cement Co. Ltd.		198,775
	11,420	Hanil E-Hwa Co. Ltd.		233,197
	28,207	Hanjin Heavy Industries & Construction Co. Ltd.(b)		331,670
	5,540	Hanjin Heavy Industries & Construction Holdings Co. Ltd.		56,295
	2,895	Hanjin Kal Corp.(b)		61,918
	43,325	Hanjin Shipping Co. Ltd.(b)		253,669
	8,350	Hanjin Shipping Holding Co. Ltd.(b)		54,223
	1,870	Hanjin Transportation Co. Ltd.		45,877
	49	Hankook Shell Oil Co. Ltd.		22,193
	20,641	Hankook Tire Co. Ltd.		1,192,556
	4,718	Hankook Tire Worldwide Co. Ltd.		95,428
	680	Hankuk Paper Manufacturing Co. Ltd.		16,748

Shares			Value
SOUTH KOREA (continued)
	710	Hanmi Pharm Co. Ltd.(b)	$	80,049
	2,691	Hanmi Science Co. Ltd.(b)		38,804
	2,520	Hanmi Semiconductor Co. Ltd.		36,338
	2,970	Hansae Co. Ltd.		61,653
	3,000	Hansae Yes24 Holdings Co. Ltd.		20,323
	3,830	Hansol Chemical Co. Ltd.		110,085
	17,250	Hansol CSN Co. Ltd.		49,081
	24,530	Hansol HomeDeco Co. Ltd.(b)		55,550
	21,590	Hansol Paper Co.		237,149
	1,590	Hansol Technics Co. Ltd.(b)		33,776
	2,020	Hanssem Co. Ltd.		164,994
	33,385	Hanwha Chemical Corp.		589,641
	35,410	Hanwha Corp.		1,029,779
	4,700	Hanwha General Insurance Co. Ltd.(b)		23,198
	12,743	Hanwha Investment & Securities Co. Ltd.(b)		46,000
	91,330	Hanwha Life Insurance Co. Ltd.		593,959
	770	Hanwha Timeworld Co. Ltd.		23,846
	3,343	Hanyang Eng Co. Ltd.		22,291
	2,720	Hanyang Securities Co. Ltd.		18,111
	43,020	Heung-A Shipping Co. Ltd.		56,830
	6,808	Hite Jinro Co. Ltd.		164,715
	3,310	Hite Jinro Holdings Co. Ltd.		41,803
	10,126	HMC Investment Securities Co. Ltd.		106,816
	10,884	Hotel Shilla Co. Ltd.		915,339
	85,718	Huchems Fine Chemical Corp.		1,808,432
	9,061	Humax Co. Ltd.		109,612
	815	Huons Co. Ltd.		35,887
	3,050	Husteel Co. Ltd.		59,920
	6,850	Huvis Corp.		76,236
	108,913	Huvitz Co. Ltd.		1,312,268
	7,800	Hwa Shin Co. Ltd.		91,338
	439	Hwacheon Machine Tool Co. Ltd.		22,602
	66,275	Hy-Lok Corp.(d)		1,927,382
	16,692	Hyosung Corp.		1,190,555
	5,770	Hyundai BNG Steel Co. Ltd.(b)		120,895
	4,120	Hyundai Corp.		125,398
	7,551	Hyundai Department Store Co. Ltd.		971,918
	33,280	Hyundai Development Co-Engineering & Construction		951,731
	2,217	Hyundai Elevator Co. Ltd.(b)		85,608
	4,090	Hyundai Engineering Plastics Co. Ltd.		29,291
	17,750	Hyundai Greenfood Co. Ltd.		298,038
	1,134	Hyundai Home Shopping Network Corp.		170,105
	12,260	Hyundai Hy Communications & Networks Co. Ltd.		61,223
	6,250	Hyundai Livart Co. Ltd.		107,060
	34,120	Hyundai Marine & Fire Insurance Co. Ltd.		1,000,519

Shares			Value
SOUTH KOREA (continued)
	387	Hyundai Mipo Dockyard	$	52,621
	68,891	Hyundai Securities Co. Ltd.(b)		462,696
	4,117	Hyundai Wia Corp.		677,335
	4,916	Hyunjin Materials Co. Ltd.(b)		26,833
	1,989	Hyvision System, Inc.		19,249
	6,050	Il Dong Pharmaceutical Co. Ltd.		78,457
	9,780	Iljin Electric Co. Ltd.		79,599
	803	Ilshin Spinning Co. Ltd.		104,523
	266	Ilsung Pharmaceuticals Co. Ltd.		20,002
	2,000	iMarketKorea, Inc.		60,292
	37,510	Industrial Bank of Korea		461,025
	1,718	Innox Corp.(b)		38,490
	680	Intelligent Digital Integrated Securities Co. Ltd.		12,537
	4,072	Interflex Co. Ltd.(b)		84,727
	430	Intergis Co. Ltd.		3,608
	8,362	Interpark Corp.		93,469
	3,547	INTOPS Co. Ltd.		82,899
	2,410	Inzi Controls Co. Ltd.		13,364
	7,005	IS Dongseo Co. Ltd.(b)		158,296
	6,310	ISU Chemical Co. Ltd.		85,188
	10,380	IsuPetasys Co. Ltd.		57,360
	4,790	Jahwa Electronics Co. Ltd.		85,527
	33,385	JB Financial Group Co. Ltd.		245,872
	3,330	Jeil Pharmaceutical Co.		60,425
	3,121	JW Pharmaceutical Corp.		52,706
	24,810	Kangwon Land, Inc.		716,712
	6,008	KB Capital Co. Ltd.		119,486
	7,300	KC Green Holdings Co. Ltd.		56,942
	10,532	KC Tech Co. Ltd.		80,521
	1,290	KCC Corp.		641,692
	790	Keangnam Enterprises Ltd.(b)		2,588
	1,783	KEPCO Engineering & Construction Co., Inc.		106,293
	2,519	KEPCO Plant Service & Engineering Co. Ltd.		163,822
	13,960	Keyang Electric Machinery Co. Ltd.		53,703
	1,340	KG Chemical Corp.		25,158
	1,884	KH Vatec Co. Ltd.		35,098
	1,110	KISCO Corp.		30,132
	6,150	Kishin Corp.		45,710
	4,345	KISWIRE Ltd.		156,215
	3,039	KIWOOM Securities Co. Ltd.		149,112
	16,788	Koentec Co. Ltd.		60,764
	2,185	Koh Young Technology, Inc.		52,019
	93,131	Kolao Holdings		2,311,826
	1,846	Kolon Corp.		38,678
	21,230	Kolon Global Corp.(b)(c)		52,905
	11,115	Kolon Industries, Inc.		737,916
	699	Kolon Life Science, Inc.		35,515
	2,401	Komipharm International Co. Ltd.(b)		20,471
	1,256	KONA I Co. Ltd.		46,798

Shares			Value
SOUTH KOREA (continued)
	5,420	Kook Soon Dang Brewery Co. Ltd.	$	33,255
	4,850	Korea Aerospace Industries Ltd.		154,657
	5,857	Korea Circuit Co. Ltd.		72,554
	3,220	Korea Electric Terminal Co. Ltd.		135,556
	1,360	Korea Export Packaging Industrial Co. Ltd.		28,561
	1,060	Korea Flange Co. Ltd.		14,926
	2,065	Korea Gas Corp.(b)		123,504
	24,360	Korea Investment Holdings Co. Ltd.		892,312
	5,406	Korea Kolmar Co. Ltd.		177,619
	2,603	Korea Kolmar Holdings Co. Ltd.		45,848
	1,564	Korea Petrochemical Industrial Co. Ltd.		94,146
	5,012	Korea United Pharm, Inc.		58,691
	4,222	Korea Zinc Co. Ltd.		1,391,262
	19,992	Korean Air Lines Co. Ltd.(b)		644,279
	61,527	Korean Reinsurance Co.		607,351
	3,712	Kortek Corp.		55,323
	4,310	KPF		24,735
	787	KPX Chemical Co. Ltd.		48,821
	3,560	KT Skylife Co., Ltd.		83,376
	30,000	KTB Investment & Securities Co. Ltd.(b)		74,615
	1,913	Kukdo Chemical Co. Ltd.		93,863
	630	Kumho Electric Co. Ltd.		14,846
	2,220	Kumho Petrochemical Co. Ltd.		187,560
	16,550	Kumho Tire Co., Inc.(b)		208,216
	1,030	Kunsul Chemical Industrial Co. Ltd.		43,810
	30,090	Kwang Dong Pharmaceutical Co. Ltd.		268,780
	9,282	Kyobo Securities Co.(b)		61,982
	1,380	Kyung Dong Navien Co. Ltd.		33,188
	101	Kyungbang Ltd.		13,049
	1,620	Kyungchang Industrial Co. Ltd.		18,107
	1,746	Kyungdong Pharm Co. Ltd.		31,429
	17,150	Kyung-In Synthetic Corp.		86,305
	13,569	LB Semicon, Inc.(b)		27,577
	860	LEENO Industrial, Inc.		24,760
	10,360	LF Corp.		268,700
	1,171	LG Hausys Ltd.		206,254
	6,049	LG InnoTek Co. Ltd.(b)		667,363
	15,154	LG International Corp.		448,035
	909	LG Life Sciences Ltd.(b)		31,449
	116,650	LG Uplus Corp.		1,145,841
	20,800	LIG Insurance Co. Ltd.		608,923
	1,800	Lock & Lock Co. Ltd.		27,262
	1,169	Lotte Chemical Corp.		184,406
	497	Lotte Chilsung Beverage Co. Ltd.		751,777
	536	Lotte Confectionary Co. Ltd.		918,146
	314	Lotte Food Co. Ltd.		235,204
	2,142	LOTTE Himart Co. Ltd.		150,290

Shares			Value
SOUTH KOREA (continued)
	9,473	Lotte Non-Life Insurance Co. Ltd.(b)	$	34,791
	9,657	LS Corp.		756,074
	2,821	LS Industrial Systems Co. Ltd.		180,186
	8,889	Lumens Co. Ltd.(b)		119,145
	39,012	Macquarie Korea Infrastructure Fund		241,631
	1,074	Macrogen, Inc.(b)		43,654
	326	Maeil Dairy Industry Co. Ltd.		12,320
	6,870	Mando Corp.		824,427
	380	Medy-Tox, Inc.		56,119
	2,049	MegaStudy Co. Ltd.		138,411
	6,418	Melfas, Inc.(b)		58,137
	16,030	Meritz Financial Group, Inc.		115,265
	23,309	Meritz Fire & Marine Insurance Co. Ltd.		289,868
	112,180	Meritz Securities Co. Ltd.		245,899
	44	Mi Chang Oil Industrial Co. Ltd.		3,053
	13,080	Mirae Asset Securities Co. Ltd.		535,453
	10,335	MK Electron Co. Ltd.		54,611
	6,602	MNTech Co. Ltd.(b)		43,383
	1,052	Modetour Network, Inc.		23,416
	19,700	Moorim P&P Co. Ltd.		95,040
	7,820	Moorim Paper Co. Ltd.		21,039
	8,590	Motonic Corp.		99,758
	1,171	Muhak Co. Ltd.(b)		34,338
	4,750	Namhae Chemical Corp.		44,590
	46	Namyang Dairy Products Co. Ltd.		40,778
	2,740	National Plastic Co.		17,501
	2,862	NCSoft Corp.		567,802
	5,453	Neowiz Games Corp.(b)		86,283
	933	Neowiz Holdings Corp.(b)		11,377
	8,926	NEPES Corp.(b)		81,200
	3,138	Nexen Corp.		233,535
	8,260	Nexen Tire Corp.		113,112
	9,100	NH Investment & Securities Co. Ltd.		58,917
	6,920	NICE Holdings Co. Ltd.		93,423
	6,790	NK Co. Ltd.(b)		26,778
	799	Nong Shim Holdings Co. Ltd.		78,098
	2,181	NongShim Co. Ltd.		649,044
	800	Noroo Holdings Co. Ltd.		16,142
	5,249	OCI Co. Ltd.(b)		919,451
	2,138	OCI Materials Co. Ltd.		73,246
	828	OPTRON-TEC, Inc.(b)		6,074
	804	Orion Corp.		613,135
	1,987	Osstem Implant Co. Ltd.(b)		49,324
	515	Ottogi Corp.		204,096
	2,770	Paik Kwang Industrial Co. Ltd.(b)		6,903
	1,621	Pan Ocean Co. Ltd.(b)		5,397
	22,380	PaperCorea, Inc.(b)		14,555
	4,525	Paradise Co. Ltd.		168,160
	10,367	Partron Co. Ltd.		140,461
	12,196	Poongsan Corp.		299,795

Shares			Value
SOUTH KOREA (continued)
	2,723	Poongsan Holdings Corp.	$	82,088
	344	POSCO Chemtech Co. Ltd.		49,671
	8,344	Posco ICT Co. Ltd.		69,042
	1,991	Posco M-Tech Co. Ltd.		8,700
	4,462	Power Logics Co. Ltd.(b)		19,669
	8,538	PSK, Inc.		113,201
	450	Pulmuone Holdings Co. Ltd.		40,937
	112,293	Pyeong Hwa Automotive Co. Ltd.		2,287,591
	3,959	RFTech Co. Ltd.		41,762
	13,621	S&T Dynamics Co. Ltd.		157,525
	3,150	S&T Holdings Co. Ltd.		46,032
	4,800	S&T Motiv Co. Ltd.		129,604
	3,832	S-1 Corp.		291,118
	1,110	Sajo Industries Co. Ltd.(b)		37,598
	4,770	Sam Young Electronics Co. Ltd.		53,087
	3,017	Sam Yung Trading Co. Ltd.		57,228
	480	Samchully Co. Ltd.		72,002
	1,220	SAMHWA Paints Industrial Co. Ltd.		18,123
	23,040	Samick Musical Instruments Co. Ltd.		63,659
	4,310	Samick THK Co. Ltd.		32,701
	5,671	Samjin Pharmaceutical Co. Ltd.		102,081
	670	Samkwang Glass Co. Ltd.		31,707
	590	Samlip General Foods Co. Ltd.		42,538
	32,583	Samsung Electro-Mechanics Co. Ltd.		2,087,481
	6,550	Samsung Fine Chemicals Co. Ltd.		261,163
	12,457	Samsung SDI Co. Ltd.		1,820,388
	20,297	Samsung Securities Co. Ltd.		772,948
	4,627	Samsung Techwin Co. Ltd.		259,270
	7,288	SAMT Co. Ltd.(b)		14,388
	1,040	Samyang Foods Co. Ltd.		32,107
	412	Samyang Genex Co. Ltd.		44,657
	3,916	Samyang Holdings Corp.		272,866
	19,700	Samyoung Chemical Co. Ltd.(b)		43,564
	10,570	Savezone I&C Corp.		63,422
	21,510	SBS Media Holdings Co. Ltd.		90,865
	28,160	SBW(b)		18,341
	7,830	Seah Besteel Corp.		211,038
	485	SeAH Holdings Corp.		50,927
	1,408	SeAH Steel Corp.		167,603
	5,840	Sebang Co. Ltd.		101,167
	35,898	Seegene, Inc.(b)		1,962,873
	5,490	Sejong Industrial Co. Ltd.		92,182
	140	Sempio Foods Co.		3,570
	3,728	S-Energy Co. Ltd.		41,310
	3,543	Seobu T&D(b)		67,376
	44,667	Seohee Construction Co. Ltd.(b)		26,066
	3,989	Seoul Semiconductor Co. Ltd.		160,016
	1,490	Seowon Co. Ltd.(b)		2,264
	2,690	Sewon Cellontech Co. Ltd.(b)		7,302

Shares			Value
SOUTH KOREA (continued)
	520	Sewon Precision Industry Co. Ltd.	$	13,361
	1,675	SFA Engineering Corp.		72,135
	50,350	SG Corp.(b)		29,919
	15,308	Shin Poong Pharmaceutical Co. Ltd.		67,777
	2,084	Shinsegae Co. Ltd.		451,772
	342	Shinsegae Information & Communication Co. Ltd.		25,187
	176	Shinsegae International Co. Ltd.		12,604
	26,713	Shinsung Solar Energy Co. Ltd.(b)		38,261
	22,990	Shinsung Tongsang Co. Ltd.(b)		28,479
	15,480	Shinwon Corp.(b)		26,816
	2,240	Shinyoung Securities Co. Ltd.		87,796
	11,434	Signetics Corp.(b)		23,127
	3,161	Silicon Works Co. Ltd.		70,360
	2,200	Silla Co. Ltd.		52,908
	6,723	Simm Tech Co. Ltd.(b)		38,778
	3,870	SIMPAC, Inc.		27,341
	971	Sindoh Co. Ltd.		63,618
	2,720	SJM Co. Ltd.		27,508
	79,077	SK Broadband Co. Ltd.(b)		327,542
	2,799	SK C&C Co. Ltd.		383,295
	7,387	SK Chemicals Co. Ltd.		429,651
	5,137	SK Communications Co. Ltd.(b)		37,137
	1,870	SK Gas Ltd.		171,925
	30,850	SK Networks Co. Ltd.(b)		284,227
	164,110	SK Securities Co. Ltd.(b)		117,369
	10,160	SKC Co. Ltd.		335,782
	5,580	SL Corp.		96,123
	2,887	SM Entertainment Co.(b)		136,206
	2,867	S-Mac Co. Ltd.		24,278
	8,190	Songwon Industrial Co. Ltd.		80,450
	2,217	Soulbrain Co. Ltd.		88,290
	9,930	Ssangyong Cement Industrial Co. Ltd.(b)		90,718
	18,069	STS Semiconductor & Telecom- munications(b)		41,181
	2,270	Suheung Co. Ltd.		84,029
	579	Sun Kwang Co. Ltd.		10,254
	3,202	Sung Kwang Bend Co. Ltd.		74,836
	2,100	Sungchang Enterprise Holdings Ltd.(b)		41,561
	5,670	Sungshin Cement Co. Ltd.(b)		62,555
	18,744	Sungwoo Hitech Co. Ltd.		302,030
	214	Sunjin Co. Ltd.		6,327
	422	Suprema, Inc.(b)		10,435
	6,520	Tae Kyung Industrial Co. Ltd.		32,243
	245	Taekwang Industrial Co. Ltd.		315,586
	2,079	Taewoong Co. Ltd.(b)		50,099
	23,300	Taeyoung Engineering & Construction Co. Ltd.(b)		145,442
	16,710	Tailim Packaging Industrial Co. Ltd.		32,262
	2,529	TCC Steel		9,031
	16,250	TK Chemical Corp.(b)		35,699

Shares			Value
SOUTH KOREA (continued)
	20,170	TONGYANG Life Insurance	$	196,176
	200	TONGYANG Moolsan Co. Ltd.		1,912
	5,875	Top Engineering Co. Ltd.(b)		25,415
	6,197	Toray Chemical Korea, Inc.(b)		86,961
	3,450	Tovis Co. Ltd.		27,345
	1,970	TS Corp.		60,150
	3,287	Uju Electronics Co. Ltd.		58,214
	2,047	Unid Co. Ltd.		131,937
	250	Union Steel		3,411
	1,880	Visang Education, Inc.		19,377
	5,350	Whanin Pharmaceutical Co. Ltd.		76,369
	40,830	Willbes & Co. (The)(b)		45,441
	5,906	Wonik IPS Co. Ltd.(b)		58,871
	7,787	Woojeon & Handan Co. Ltd.		48,381
	23,490	Woongjin Energy Co. Ltd.(b)		52,968
	9,260	Woongjin Thinkbig Co. Ltd.(b)		72,141
	12,750	Wooree ETI Co. Ltd.		34,735
	69,483	Woori Investment & Securities Co. Ltd.		586,366
	4,730	Y G-1 Co. Ltd.		52,642
	1,080	YESCO Co. Ltd.		39,561
	773	YG Entertainment, Inc.		46,232
	9,270	Yoosung Enterprise Co. Ltd.		43,555
	6,970	Youlchon Chemical Co. Ltd.		95,110
	18,290	Young Heung Iron & Steel Co. Ltd.		39,384
	345	Young Poong Corp.		397,319
	4,080	Young Poong Precision Corp.		38,380
	4,952	Youngone Corp.		201,761
	2,598	Youngone Holdings Co. Ltd.		185,051
	1,184	Yuhan Corp.		207,971
				99,479,848
SPAIN — 0.6%
	25,804	Abengoa SA		143,626
	75,281	Abengoa SA - B Shares		335,360
	2,281	Abengoa SA - New Share Issue Shares 2014(b)(d)		10,161
	661	Abengoa SA - New Share Issue Shares 2014(b)(d)		3,679
	12,768	Acciona SA		1,036,249
	40,068	Acerinox SA		700,412
	3,395	Adveo Group International SA		80,777
	20,739	Almirall SA		347,280
	3,330	Azkoyen SA(b)		11,919
	1,761,679	Banco de Sabadell SA		5,987,949
	285,511	Banco Popular Espanol SA		2,099,346
	3,590	Banco Santander SA		35,696
	183,133	Bankinter SA		1,400,683
	1,315	Baron de Ley(b)		136,827
	18,045	Bolsas y Mercados Espanoles SA		785,964
	20,024	Caja de Ahorros del Mediter- raneo(b)(c)(d)		0
	2,580	Cementos Portland Valderrivas SA(b)		26,344

Shares			Value
SPAIN (continued)
	16,842	Cie Automotive SA	$	213,796
	485	Construcciones y Auxiliar de Ferrocarriles SA		232,138
	332,485	Deoleo SA(b)		182,203
	113,832	Distribuidora Internacional de Alimentacion SA		1,016,718
	14,723	Duro Felguera SA		100,496
	26,493	Ebro Foods SA		610,133
	158,336	EDP Renovaveis SA(b)		1,084,496
	9,939	Elecnor SA		142,852
	104,144	Enagas SA		3,207,543
	68,381	Ence Energia y Celulosa SA		201,121
	25,768	Ercros SA(b)		17,160
	46,853	Faes Farma SA		144,953
	1,874	Faes Farma SA - New Share Issue Shares 2014(b)(d)		5,798
	12,842	Fluidra SA		58,259
	11,950	Fomento de Construcciones y Contratas SA(b)		263,023
	116,565	Gamesa Corp. Tecnologica SA(b)		1,156,432
	31,966	Grupo Catalana Occidente SA		1,249,282
	9,280	Grupo Ezentis SA(b)		15,128
	2,010	Iberpapel Gestion SA		39,542
	46,815	Indra Sistemas SA		877,457
	893	Inmobiliaria Colonial SA(b)		830
	11,609	Inmobiliaria Colonial SA - New Share Issue Shares 2014(b)(d)		10,791
	5,819	Laboratorios Farmaceuticos Rovi SA		79,680
	51,556	Mediaset Espana Comunicacion SA(b)		570,778
	21,368	Melia Hotels International SA		269,768
	2,756	Miquel y Costas & Miquel SA		114,897
	15,065	Natra SA(b)		39,711
	54,285	NH Hoteles SA(b)		346,436
	34,034	Obrascon Huarte Lain SA		1,575,395
	13,901	Papeles y Cartones de Europa SA		76,853
	9,252	Pescanova SA(b)(c)(d)		0
	1,765	Prim SA		14,716
	147,552	Promotora de Informaciones SA - Class A(b)		82,087
	1,206,175	Prosegur Cia de Seguridad SA		8,082,443
	29,481	Red Electrica Corp. SA		2,424,575
	64,394	Sacyr SA(b)		422,563
	3,616	Tecnicas Reunidas SA		217,647
	41,405	Tubacex SA		202,774
	34,984	Tubos Reunidos SA		108,233
	8,830	Vidrala SA		467,348
	15,581	Viscofan SA		811,691
	5,389	Vocento SA(b)		17,383
	34,701	Zardoya Otis SA		608,519
	30,974	Zeltia SA(b)		116,668
				40,622,588

Shares			Value
SWEDEN — 0.8%
	11,929	AarhusKarlshamn AB	$	796,771
	24,738	Acando AB		57,068
	3,083	AddNode Group AB		21,100
	8,313	AddTech AB - Class B		126,890
	330,607	AF AB - Class B(d)		11,948,670
	2,158	Arise AB(b)		8,695
	794	Atrium Ljungberg AB - Class B		12,614
	1,644	Avanza Bank Holding AB		61,566
	8,149	Axfood AB		433,255
	14,516	Axis Communications AB		432,877
	5,502	B&B Tools AB - Class B		100,906
	2,816	Beijer AB G&L - Class B		57,167
	6,098	Beijer Alma AB		172,093
	2,038	Beijer Electronics AB		19,746
	11,117	Betsson AB		404,351
	17,184	Bilia AB - Class A		569,523
	103,419	BillerudKorsnas AB		1,506,225
	4,165	BioGaia AB - Class B		124,908
	24,799	Biotage AB		44,623
	1,759	Bjoern Borg AB(b)		6,817
	1,759	Bjoern Borg AB(b)		403
	293,940	Boliden AB		4,466,376
	42,950	Bure Equity AB		189,577
	11,928	Byggmax Group AB		99,978
	18,040	Castellum AB		306,854
	1,746	Catena AB		29,068
	5,320	Clas Ohlson AB - Class B		117,409
	10,828	Concordia Maritime AB - Class B		22,065
	19,770	CyberCom Group AB(b)		8,209
	2,644	Doro AB		17,282
	13,655	Duni AB		227,856
	59,753	Electrolux AB - Class B		1,655,977
	123,512	Elekta AB - Class B		1,728,583
	1,207	Enea AB		11,602
	53,430	Eniro AB(b)		424,008
	15,073	Fabege AB		211,298
	741	Fagerhult AB		36,810
	6,050	Fastighets AB Balder - Class B(b)		77,460
	96,813	Getinge AB - Class B		2,845,339
	25,488	Gunnebo AB		145,036
	28,421	Haldex AB		362,792
	11,372	Hexpol AB		1,073,853
	8,094	HIQ International AB		49,045
	8,094	HIQ International AB - Redemption Shares(b)		3,224
	440	HMS Networks AB		9,626
	26,976	Holmen AB - Class B		950,893
	7,179	Hufvudstaden AB - Class A		104,888
	22,054	Husqvarna AB - Class A		182,647
	139,162	Husqvarna AB - Class B		1,155,724
	24,085	ICA Gruppen AB		806,760
	11,328	Industrial & Financial Systems - Class B		324,045
	5,489	Indutrade AB		238,058

Shares			Value
SWEDEN (continued)
	31,357	Intrum Justitia AB	$	907,116
	39,593	JM AB		1,339,617
	18,518	KappAhl AB(b)		113,064
	264	Karolinska Development AB - Class B(b)		1,015
	6,105	Klovern AB		33,425
	18,031	KNOW IT AB		191,341
	14,357	Kungsleden AB		117,025
	2,706	Lagercrantz AB - Class B		54,102
	21,175	Lindab International AB(b)		263,784
	31,173	Loomis AB - Class B		846,180
	75,113	Lundin Petroleum AB(b)		1,604,564
	139,081	Meda AB - Class A		2,489,777
	2,363	Medivir AB - Class B(b)		41,793
	7,277	Mekonomen AB		194,174
	29,549	Micronic Mydata AB(b)		84,073
	10,604	Modern Times Group AB - Class B		470,821
	1,715	MQ Holding AB		7,095
	4,730	Munksjo Oyj		38,257
	1,241	NCC AB - Class A		44,107
	40,105	NCC AB - Class B		1,399,499
	2,159	Nederman Holding AB		55,451
	4,881	Net Entertainment NE AB		117,480
	4,881	Net Entertainment NE AB - Redemption Shares(b)		2,251
	49,418	New Wave Group AB - Class B		334,409
	11,629	Nibe Industrier AB - Class B		326,396
	61,798	Nobia AB		560,746
	8,614	Nolato AB - Class B		196,730
	17,542	Nordnet AB - Class B		86,601
	76,747	Peab AB		593,113
	54,154	Pricer AB - Class B(b)		48,722
	1,152	Proact IT Group AB		15,458
	23,300	Proffice AB - Class B		84,927
	82,544	Ratos AB - Class B		838,490
	4,226	ReadSoft AB - Class B		11,374
	11,992	Rezidor Hotel Group AB(b)		74,510
	32,640	Saab AB - Class B		998,948
	1,150	Sagax AB - Class B		5,500
	91,584	SAS AB(b)		195,783
	4,652	Sectra AB - Class B		55,626
	124,127	Securitas AB - Class B		1,497,611
	5,219	Semcon AB		56,186
	39,832	Skanska AB - Class B		910,925
	8,761	SkiStar AB		115,539
	128,873	SSAB AB - Class A(b)		1,118,834
	20,678	SSAB AB - Class B(b)		155,796
	8,924	Sweco AB - Class B		138,618
	15,079	Swedish Match AB		516,919
	21,190	Swedish Orphan Biovitrum AB(b)		232,685
	2,770	Systemair AB		45,051
	203,586	Tele2 AB - B Shares		2,598,757
	7,542	TradeDoubler AB(b)		16,761
	95,263	Trelleborg AB - Class B		2,030,613

Shares			Value
SWEDEN (continued)
	3,694	Vitrolife AB	$	64,765
	8,602	Wallenstam AB - Class B		140,628
	6,774	Wihlborgs Fastigheter AB		130,225
				59,401,867
SWITZERLAND — 1.6%
	19,571	Actelion Ltd.		1,922,410
	564	Advanced Digital Broadcast Holdings SA(b)		8,876
	10,559	AFG Arbonia-Forster Holding AG(b)		350,927
	178,000	Allied World Assurance Co.
		Holdings AG		19,168,820
	8,646	Allreal Holding AG		1,219,144
	1,343	Alpiq Holding AG		164,651
	934	ALSO Holding AG		53,274
	314	APG SGA SA		108,104
	47,560	Aryzta AG		4,390,694
	8,734	Ascom Holding AG		162,255
	1,374	Autoneum Holding AG		290,537
	1,807	Bachem Holding AG - Class B		101,940
	32,904	Baloise Holding AG		4,000,373
	1,857	Bank Coop AG		90,835
	277	Banque Cantonale de Geneve		70,816
	2,108	Banque Cantonale Vaudoise		1,250,285
	6	Banque Privee Edmond de Rothschild SA		110,476
	728	Barry Callebaut AG		988,479
	117	Basilea Pharmaceutica(b)		12,224
	1,631	Basler Kantonalbank		140,843
	99	Belimo Holding AG		278,518
	61	Bell AG		167,800
	1,916	Berner Kantonalbank AG		470,020
	984	BKW AG		36,169
	4,131	Bobst Group SA(b)		210,047
	2,396	Bossard Holding AG(b)		329,413
	3,886	Bucher Industries AG		1,262,806
	23,299	Burckhardt Compression Holding AG(d)		12,071,746
	542	Burkhalter Holding AG		51,115
	977	Calida Holding AG		41,074
	36	Carlo Gavazzi Holding AG		9,367
	178	Cham Paper Holding AG		50,057
	1,088	Charles Voegele Holding AG - Class A(b)		17,925
	633	Cicor Technologies		25,713
	40	Cie Financiere Tradition SA		2,177
	154,090	Clariant AG		3,032,427
	41,486	Coca-Cola HBC AG - CDI		1,049,268
	1,178	Coltene Holding AG		76,093
	35	Conzzeta AG		138,592
	2,750	Daetwyler Holding AG		434,326
	5,371	Dufry AG(b)		887,335
	13,996	EFG International AG		177,316
	1,458	Emmi AG		534,677
	2,683	EMS-Chemie Holding AG		1,044,879

Shares			Value
SWITZERLAND (continued)
	4,343	Energiedienst Holding AG	$	157,416
	12,484	Ferrexpo Plc		30,689
	2,933	Flughafen Zuerich AG		1,847,913
	530	Forbo Holding AG		548,307
	1,617	Galenica AG		1,644,376
	89,347	GAM Holding AG		1,624,306
	1,495	Gategroup Holding AG		46,544
	7,236	Geberit AG		2,411,452
	3,379	Georg Fischer AG		2,676,017
	284	Gurit Holding AG		148,276
	4,832	Helvetia Holdings AG		2,402,000
	4,946	Highlight Communications AG		25,725
	3,351	Huber & Suhner AG		184,284
	6,547	Implenia AG		479,811
	249	Inficon Holding AG		89,121
	307,149	Informa Plc		2,501,148
	136	Interroll Holding AG		84,681
	104	Intershop Holdings AG		40,177
	178,605	Julius Baer Group Ltd.		8,350,864
	1	Jungfraubahn Holding AG		82
	821	Kaba Holding AG - Class B		395,295
	1,015	Kardex AG		51,898
	2,133	Komax Holding AG		330,093
	19,555	Kudelski SA(b)		336,619
	1,626	Kuoni Reisen Holding AG		718,222
	161	LEM Holding SA		132,993
	15	Lindt & Spruengli AG		874,844
	17,216	Logitech International SA		232,781
	16,086	Lonza Group AG		1,680,613
	1,434	Luzerner Kantonalbank AG		590,236
	275	MCH Group AG		19,841
	97	Metall Zug AG - Class B		292,510
	24,650	Meyer Burger Technology AG(b)		303,889
	20,313	Micronas Semiconductor Holding AG		180,488
	677	Mikron Holding AG		5,308
	9,148	Mobilezone Holding AG(b)		103,943
	3,918	Mobimo Holding AG		840,939
	20,903	Nobel Biocare Holding AG		290,946
	111,727	OC Oerlikon Corp AG(b)		1,777,273
	3,540	Orascom Development Holding AG(b)		55,105
	417	Orell Fuessli Holding AG(b)		48,234
	2,266	Orior AG		146,372
	3,289	Panalpina Welttransport Holding AG		515,716
	3,238	Partners Group Holding AG		885,934
	281	Phoenix Mecano AG		180,714
	3,798	PSP Swiss Property AG		364,653
	78	PubliGroupe SA		15,598
	352	Rieter Holding AG		79,391
	154	Romande Energie Holding SA		201,227
	78	Schaffner Holding AG		22,843
	322,063	Schmolz & Bickenbach AG(b)		461,083
	472	Schweiter Technologies AG		356,641

Shares			Value
SWITZERLAND (continued)
	8,630	Schweizerische National- Versicherungs-Gesellsschaft AG	$	597,658
	845	Siegfried Holding AG		158,227
	894	Sika AG		3,615,210
	6,865	Sonova Holding AG		990,632
	1,426	St. Galler Kantonalbank AG		612,462
	308,724	STMicroelectronics NV		2,953,608
	1,100	Straumann Holding AG		243,847
	13,078	Sulzer AG		2,012,000
	14,784	Swiss Life Holding AG		3,631,747
	121,186	Swisslog Holding AG(b)		139,073
	2,762	Swissquote Group Holding SA		108,898
	955	Tamedia AG		125,872
	2,356	Tecan Group AG		293,931
	13,991	Temenos Group AG		500,757
	1,732	U-Blox AG		211,556
	43	Valartis Group AG		1,050
	4,581	Valiant Holding AG		507,236
	2,156	Valora Holding AG		608,756
	457	Vaudoise Assurances Holding SA		208,742
	47	Vetropack Holding AG		90,518
	3,072	Von Roll Holding AG(b)		5,969
	19,524	Vontobel Holding AG		764,233
	3	Walliser Kantonalbank		2,543
	1,950	Walter Meier AG(b)		105,244
	1,950	WM Technologie AG(b)(c)(d)		46,529
	915	Ypsomed Holding AG		97,728
	3,700	Zehnder Group AG		161,436
	1,427	Zueblin Immobilien Holding AG(b)		2,789
	52	Zug Estates Holding AG - B Shares		69,956
	31	Zuger Kantonalbank AG		167,663
				113,826,124
TAIWAN — 1.2%
	124,000	Ability Enterprise Co. Ltd.		78,224
	66,000	AcBel Polytech, Inc.		86,439
	169,000	Accton Technology Corp.		100,455
	1,162,000	Acer, Inc.(b)		717,640
	64,765	Achem Technology Corp.		46,754
	6,000	Acter Co. Ltd.		23,048
	79,497	Action Electronics Co. Ltd.(b)		15,848
	9,000	Actron Technology Corp.		37,999
	43,000	A-DATA Technology Co. Ltd.		102,239
	18,400	Adlink Technology, Inc.		33,878
	83,000	Advanced Connectek, Inc.(b)		34,906
	54,060	Advancetek Enterprise Co. Ltd.		59,076
	79,637	Advantech Co. Ltd.		514,246
	183,027	AGV Products Corp.(b)		57,639
	10,000	AimCore Technology Co. Ltd.		10,895
	20,000	ALI Corp.		20,763
	18,000	Alltek Technology Corp.		16,153
	136,000	Alpha Networks, Inc.		107,636

Shares			Value
TAIWAN (continued)
	147,215	Altek Corp.	$	148,443
	120,000	Ambassador Hotel (The)		110,670
	18,000	AMPOC Far-East Co. Ltd.		15,229
	161,830	AmTRAN Technology Co. Ltd.		112,002
	32,000	Anpec Electronics Corp.		26,015
	52,000	APCB, Inc.		35,645
	22,552	Apex Biotechnology Corp.		48,692
	36,036	Apex Science & Engineering		22,196
	191,700	Ardentec Corp.		162,511
	83,427	Arima Communications Corp.(b)		49,175
	155,000	Asia Optical Co., Inc.(b)		154,240
	14,000	Asia Plastic Recycling Holding Ltd.		29,532
	113,000	Asia Polymer Corp.		87,562
	103,100	Asia Vital Components Co. Ltd.		65,722
	9,000	ASROCK, Inc.		34,274
	11,000	Aten International Co. Ltd.		34,605
	3,264,000	AU Optronics Corp.(b)		1,232,188
	56,000	Audix Corp.		54,057
	19,000	Aurora Corp.		35,045
	13,000	AV Tech Corp.		35,085
	47,270	Avermedia Technologies, Inc.		19,488
	9,000	Avision, Inc.(b)		3,040
	28,000	AVY Precision Technology, Inc.		42,374
	17,850	Awea Mechantronic Co. Ltd.		32,510
	138,431	Bank of Kaohsiung		43,595
	13,000	Basso Industry Corp.		16,122
	26,000	BenQ Materials Corp.(b)		31,856
	1,293,350	BES Engineering Corp.		339,206
	48,000	Biostar Microtech International Corp.		19,551
	15,000	Boardtek Electronics Corp.		16,839
	62,000	C Sun Manufacturing Ltd.		59,130
	390,781	Capital Securities Corp.		133,935
	156,000	Career Technology Manufacturing Co. Ltd.		219,809
	117,000	Carnival Industrial Corp.		31,228
	7,000	Cathay Chemical Works		3,883
	183,000	Cathay No. 1 REIT		105,868
	23,000	Cathay No. 2 REIT		10,663
	189,000	Cathay Real Estate Development Co. Ltd.		109,527
	38,760	Central Reinsurance Co. Ltd.		20,729
	47,000	ChainQui Construction Development Co. Ltd.		39,377
	179,000	Champion Building Materials Co. Ltd.(b)		63,425
	10,923	Chang Wah Electromaterials, Inc.		28,611
	127,000	Charoen Pokphand Enterprise		112,079
	19,000	Chaun-Choung Technology Corp.		50,397
	13,000	CHC Resources Corp.		30,264
	811,920	Cheng Loong Corp.		352,214
	196,797	Cheng Uei Precision Industry Co. Ltd.		395,575

Shares			Value
TAIWAN (continued)
	19,000	Chenming Mold Industry Corp.(b)	$	23,500
	75,000	Chia Chang Co. Ltd.		88,789
	380,659	Chia Hsin Cement Corp.(b)		199,796
	182,028	Chicony Electronics Co. Ltd.		473,184
	120,120	Chien Kuo Construction Co. Ltd.		54,296
	41,960	Chilisin Electronics Corp.		32,167
	42,000	Chimei Materials Technology Corp.		48,818
	1,505,744	China Airlines Ltd.(b)		503,610
	103,000	China Chemical & Pharmaceutical Co. Ltd.		75,891
	14,000	China Ecotek Corp.		35,234
	83,000	China Electric Manufacturing Corp.		34,906
	268,180	China General Plastics Corp.		135,431
	22,000	China Glaze Co. Ltd.		11,219
	816,685	China Life Insurance Co. Ltd.		713,971
	1,005,505	China Man-Made Fiber Corp.(b)		339,630
	93,978	China Metal Products		108,300
	521,391	China Motor Corp.		471,355
	716,881	China Petrochemical Development Corp.		282,498
	42,114	China Steel Chemical Corp.		242,660
	37,000	China Steel Structure Co. Ltd.		40,801
	194,616	China Synthetic Rubber Corp.		186,251
	96,000	China Wire & Cable Co. Ltd(b)		37,830
	38,000	Chinese Maritime Transport Ltd.		44,735
	167,883	Chin-Poon Industrial Co. Ltd.		314,662
	145,000	Chipbond Technology Corp.		247,765
	33,574	Chong Hong Construction Co.		92,613
	35,876	Chroma ATE, Inc.		92,310
	92,000	Chun Yu Works & Co. Ltd.(b)		38,691
	338,779	Chun Yuan Steel		141,915
	79,000	Chung Hsin Electric & Machinery Manufacturing Corp.		53,106
	156,339	Chung Hung Steel Corp.(b)		40,330
	224,240	Chung Hwa Pulp Corp.(b)		66,979
	228,000	Chunghwa Picture Tubes Ltd.(b)		14,119
	9,000	Cleanaway Co. Ltd.		50,964
	153,348	Clevo Co.		281,834
	940,000	CMC Magnetics Corp.(b)		144,745
	48,300	CoAsia Microelectronics Corp.		23,992
	127,182	Collins Co. Ltd.		47,381
	1,250,000	Compal Electronics, Inc.		892,029
	810,000	Compeq Manufacturing Co. Ltd.		529,754
	191,689	Continental Holdings Corp.		72,682
	362,000	Coretronic Corp.		431,552
	39,560	Cosmos Bank Taiwan(b)		19,519
	50,000	Coxon Precise Industrial Co. Ltd.		84,443

Shares			Value
TAIWAN (continued)
	70,000	CSBC Corp. Taiwan	$	42,536
	203,838	CTCI Corp.		325,352
	16,000	CviLux Corp.		21,988
	11,660	Cyberlink Corp.		35,793
	10,000	Cyberpower Systems, Inc.		25,002
	15,460	CyberTAN Technology, Inc.		15,051
	76,000	DA CIN Construction Co. Ltd.		70,720
	58,000	Danen Technology Corp.(b)		29,290
	169,000	Darfon Electronics Corp.		117,245
	66,201	Delpha Construction Co. Ltd.		36,829
	24,000	Depo Auto Parts Industrial Co. Ltd.		96,563
	17,000	DFI, Inc.		21,167
	152,712	D-Link Corp.		99,876
	62,183	Dynamic Electronics Co. Ltd.(b)		23,269
	14,000	Dynapack International Technology Corp.		36,439
	198,000	E Ink Holdings, Inc.(b)		131,462
	3,683,613	E.Sun Financial Holding Co. Ltd.		2,226,172
	226,675	Eastern Media International Corp.(b)		98,332
	87,675	Eclat Textile Co. Ltd.		958,102
	102,448	Edimax Technology Co. Ltd.		49,361
	11,000	Edom Technology Co. Ltd.		6,793
	34,320	Elan Microelectronics Corp.		63,417
	14,000	E-LIFE MALL Corp.		29,578
	21,000	Elite Advanced Laser Corp.		78,581
	129,967	Elite Material Co. Ltd.		115,988
	38,000	Elite Semiconductor Memory Technology, Inc.		69,084
	176,569	Elitegroup Computer Systems Co. Ltd.		130,681
	39,000	ENG Electric Co. Ltd.		31,641
	160,000	Entie Commercial Bank		70,998
	36,000	Episil Technologies, Inc.(b)		14,008
	214,000	Epistar Corp.		467,004
	210,492	Eternal Chemical Co. Ltd.		219,567
	111,000	E-Ton Solar Tech Co. Ltd.(b)		68,369
	28,000	Etron Technology, Inc.(b)		15,160
	887,609	Eva Airways Corp.(b)		449,712
	40,000	Everest Textile Co. Ltd.(b)		14,769
	148,000	Evergreen International Storage & Transport Corp.		90,668
	659,197	Evergreen Marine Corp. Taiwan Ltd.(b)		374,370
	126,152	Everlight Chemical Industrial Corp.		115,717
	72,643	Everlight Electronics Co. Ltd.		169,832
	59,373	Excelsior Medical Co. Ltd.		110,693
	513,865	Far Eastern Department Stores Ltd.		478,164
	1,065,422	Far Eastern International Bank		373,981
	63,797	Faraday Technology Corp.		86,723
	43,000	Farglory F T Z Investment Holding Co. Ltd.(b)		33,320

Shares			Value
TAIWAN (continued)
	186,154	Farglory Land Development Co. Ltd.	$	305,140
	304,469	Federal Corp.		217,276
	143,320	Feng Hsin Iron & Steel Co.		240,148
	53,656	Feng TAY Enterprise Co. Ltd.		148,363
	19,000	First Copper Technology Co. Ltd.(b)		6,638
	54,821	First Hotel		34,765
	119,000	First Insurance Co. Ltd.		74,281
	186,256	First Steamship Co. Ltd.		108,554
	57,643	FLEXium Interconnect, Inc.		156,524
	8,351	Flytech Technology Co. Ltd.		32,079
	54,000	Forhouse Corp.		21,905
	50,000	Formosa Advanced Technologies Co. Ltd.		38,413
	214,000	Formosa Epitaxy, Inc.(b)		122,598
	11,826	Formosa International Hotels Corp.		139,023
	48,203	Formosa Oilseed Processing		20,591
	729,000	Formosa Taffeta Co. Ltd.		761,638
	347,000	Formosan Rubber Group, Inc.		324,616
	187,628	Formosan Union Chemical		91,335
	33,000	Fortune Electric Co. Ltd.		17,922
	70,811	Founding Construction & Development Co. Ltd.		44,084
	104,000	Foxconn Technology Co. Ltd.		258,295
	86,000	Froch Enterprise Co. Ltd.(b)		30,187
	100,022	FSP Technology, Inc.		107,315
	35,000	Fubon No. 1 REIT		16,458
	89,000	Fubon No. 2 REIT		34,866
	57,800	Fullerton Technology Co. Ltd.		52,062
	93,422	Fulltech Fiber Glass Corp.(b)		38,361
	115,549	Fwusow Industry Co. Ltd.		58,161
	47,000	G Shank Enterprise Co. Ltd.		35,330
	16,000	G Tech Optoelectronics Corp.		18,253
	128,101	Gemtek Technology Corp.		115,595
	41,000	Genesis Photonics, Inc.(b)		27,697
	26,982	Genius Electronic Optical Co. Ltd.		92,478
	6,228	GeoVision, Inc.		33,823
	180,000	Getac Technology Corp.		95,669
	512,143	Giant Manufacturing Co. Ltd.		4,002,442
	5,000	Giantplus Technology Co. Ltd.(b)		2,136
	154,781	Gigabyte Technology Co. Ltd.		241,413
	2,000	Gigasolar Materials Corp.		46,162
	28,000	Gigastorage Corp.(b)		33,843
	152,000	Ginko International Co. Ltd.		2,551,957
	180,297	Gintech Energy Corp.(b)		185,085
	115,133	Global Brands Manufacture Ltd.(b)		38,698
	23,000	Global Lighting Technologies, Inc.		27,343
	102,000	Globe Union Industrial Corp.(b)		67,385
	156,250	Gloria Material Technology Corp.		126,509

Shares			Value
TAIWAN (continued)
	293,770	Gold Circuit Electronics Ltd(b)	$	80,452
	451,852	Goldsun Development & Construction Co. Ltd.		159,356
	19,845	Good Will Instrument Co. Ltd.		13,143
	7,000	Gourmet Master Co. Ltd.		56,676
	886,000	Grand Pacific Petrochemical		563,322
	19,000	Grape King Bio Ltd.		84,939
	59,000	Great China Metal Industry		76,588
	66,000	Great Taipei Gas Co. Ltd.		51,689
	163,036	Great Wall Enterprise Co. Ltd.		168,716
	55,353	Green Energy Technology, Inc.(b)		45,917
	27,000	GTM Corp.(b)		17,256
	97,000	Hannstar Board Corp.		35,012
	1,622,000	HannStar Display Corp.(b)		561,292
	243,115	HannsTouch Solution, Inc.(b)		66,418
	126,000	Hey Song Corp.		132,267
	145,188	Highwealth Construction Corp.		323,570
	69,620	Hitron Technology, Inc.		43,112
	27,109	Hiwin Technologies Corp.		257,642
	299,720	Ho Tung Chemical Corp.		133,493
	139,000	Hocheng Corp.(b)		46,720
	28,800	Holiday Entertainment Co. Ltd.		36,527
	20,000	Holtek Semiconductor, Inc.		35,963
	84,294	Holy Stone Enterprise Co. Ltd.		113,749
	62,000	Hong Tai Electric Industrial		21,352
	111,000	Horizon Securities Co. Ltd.		32,677
	12,000	Howarm Construction Co. Ltd.(b)		10,491
	122,678	Hsin Kuang Steel Co. Ltd.		77,999
	63,326	Hsing TA Cement Co.		29,987
	11,000	Hu Lane Associate, Inc.		36,426
	316,000	HUA ENG Wire & Cable Co. Ltd.		122,432
	1,710	Hua Yu Lien Development Co. Ltd.(b)		2,712
	35,479	Huaku Development Co. Ltd.		86,824
	39,000	Huang Hsiang Construction Co.		59,279
	138,514	Hung Poo Real Estate Development Corp.		123,845
	102,000	Hung Sheng Construction Ltd.		66,034
	60,991	Hwa Fong Rubber Co. Ltd.(b)		42,313
	193,341	Ichia Technologies, Inc.		237,531
	49,000	I-Chiun Precision Industry Co. Ltd.		35,373
	81,375	IEI Integration Corp.		116,681
	31,000	ILI Technology Corp.		60,772
	17,000	Infortrend Technology, Inc.		10,640
	935,000	Innolux Corp.(b)		322,008
	209,000	Inotera Memories, Inc.(b)		213,859
	608,155	Inventec Corp.		559,862
	24,000	I-Sheng Electric Wire & Cable Co. Ltd.		36,002
	54,691	ITE Technology, Inc.		59,947
	83,000	ITEQ Corp.		95,649
	27,000	Jess-Link Products Co. Ltd.		25,437

Shares			Value
TAIWAN (continued)
	283,165	Jih Sun Financial Holdings Co. Ltd.	$	76,422
	3,105	Johnson Health Tech Co. Ltd.		7,547
	44,000	Kang Na Hsiung Enterprise Co. Ltd.		21,127
	35,000	Kaulin Manufacturing Co. Ltd.		30,772
	134,823	KEE TAI Properties Co. Ltd.		91,748
	185,067	Kenda Rubber Industrial Co. Ltd.		428,992
	24,000	Kenmec Mechanical Engineering Co. Ltd.(b)		11,047
	87,000	Kerry TJ Logistics Co. Ltd.		104,580
	148,000	King Slide Works Co. Ltd.		1,926,088
	591,184	King Yuan Electronics Co. Ltd.		450,269
	171,000	Kingdom Construction Co. Ltd.		176,391
	407,185	King’s Town Bank		377,548
	49,532	King’s Town Construction Co. Ltd.(b)		41,334
	47,000	Kinik Co.		129,181
	37,000	Kinko Optical Co. Ltd.		34,001
	543,343	Kinpo Electronics, Inc.		202,418
	102,000	Kinsus Interconnect Technology Corp.		385,059
	391,000	KMC Kuei Meng International, Inc.		1,709,120
	16,328	KS Terminals, Inc.		27,143
	16,000	Kung Long Batteries Industrial Co. Ltd.		52,348
	40,000	Kung Sing Engineering Corp.		18,147
	200,982	Kuoyang Construction Co. Ltd.		102,162
	191,040	Kwong Fong Industries		124,627
	131,000	KYE Systems Corp.		56,394
	62,000	L&K Engineering Co. Ltd.		55,331
	126,478	LCY Chemical Corp.		130,046
	24,828	Leader Electronics, Inc.		11,428
	345,410	Lealea Enterprise Co. Ltd.		121,245
	21,826	Ledtech Electronics Corp.		14,022
	63,000	LEE CHI Enterprises Co. Ltd.		35,257
	39,000	Lelon Electronics Corp.		37,840
	146,638	Leofoo Development Co. Ltd.(b)		55,357
	131,500	Lextar Electronics Corp.		128,243
	332,545	Li Peng Enterprise Co. Ltd.(b)		155,271
	28,643	Lian Hwa Food Corp.		37,039
	446,362	Lien Hwa Industrial Corp.		282,320
	235,000	Lingsen Precision Industries Ltd.		154,861
	104,000	Lite-On Semiconductor Corp.		76,111
	97,661	Lite-On Technology Corp.		149,088
	118,000	Long Bon International Co. Ltd.		73,266
	278,720	Long Chen Paper Co. Ltd.		121,833
	18,000	Longwell Co.		23,783
	29,451	Lotes Co. Ltd.		95,576
	69,000	Lucky Cement Corp.(b)		19,879
	30,939	Lumax International Corp. Ltd.		73,152
	6,000	Lung Yen Life Service Corp.		16,312
	1,668,936	Macronix International(b)		392,944

Shares			Value
TAIWAN (continued)
	27,000	Makalot Industrial Co. Ltd.	$	141,715
	67,000	Marketech International Corp.		48,478
	368,000	Masterlink Securities Corp.		120,034
	13,152	Mayer Steel Pipe Corp.		5,967
	9,000	Maywufa Co. Ltd.		4,426
	75,440	Meiloon Industrial Co. Ltd.		44,343
	146,188	Mercuries & Associates Ltd.		96,820
	45,000	Mercuries Life Insurance Co. Ltd.(b)		25,184
	50,600	Merida Industry Co. Ltd.		338,473
	25,801	Merry Electronics Co. Ltd.		139,693
	43,043	Microbio Co. Ltd.(b)		43,901
	55,219	Microelectronics Technology, Inc.(b)		29,348
	312,404	Micro-Star International Co. Ltd.		341,391
	54,590	Mirle Automation Corp.		49,532
	146,500	Mitac Holdings Corp.(b)		118,372
	125,822	Mosel Vitelic, Inc.(b)		24,999
	111,000	Motech Industries Inc.(b)		187,463
	4,000	Nak Sealing Technologies Corp.		18,147
	24,000	Namchow Chemical Industrial Co. Ltd.		46,175
	152,590	Nan Kang Rubber Tire Co. Ltd.(b)		173,317
	49,000	Nan Ren Lake Leisure Amusement Co. Ltd.(b)		19,715
	38,000	Nan Ya Printed Circuit Board Corp.(b)		53,543
	104,897	Nantex Industry Co. Ltd.		65,825
	32,000	National Petroleum Co. Ltd.		28,611
	143,250	Neo Solar Power Corp.(b)		169,587
	12,000	Netronix, Inc.		31,234
	7,475	New Asia Construction & Development Corp.		1,936
	10,000	New Era Electronics Co. Ltd.		12,319
	28,949	Nichidenbo Corp.		28,759
	67,267	Nien Hsing Textile Co. Ltd.		66,269
	11,000	Nishoku Technology, Inc.		16,210
	72,000	Novatek Microelectronics Corp.		332,605
	34,000	Ocean Plastics Co. Ltd.(b)		45,543
	220,000	OptoTech Corp.		106,000
	212,000	Orient Semiconductor Electronics Ltd.(b)		59,743
	133,500	Oriental Union Chemical Corp.		132,625
	610,000	Pacific Hospital Supply Co. Ltd.(d)		1,575,601
	165,453	Pan Jit International, Inc.(b)		75,061
	81,616	Pan-International Industrial Corp.		60,000
	5,000	Parade Technologies Ltd.		42,635
	4,242	Paragon Technologies Co. Ltd.		11,575
	11,000	PChome Online, Inc.		75,402
	507,000	Pegatron Corp.		768,106
	98,746	Phihong Technology Co. Ltd.		66,053
	27,000	Phison Electronics Corp.		183,290

Shares			Value
TAIWAN (continued)
	14,000	Pihsiang Machinery Manufacturing Co. Ltd.(b)	$	14,163
	30,000	Pixart Imaging, Inc.		58,613
	21,000	Portwell, Inc.		22,566
	309,715	Pou Chen Corp.		393,836
	13,000	Powertech Industrial Co. Ltd.		9,299
	422,200	Powertech Technology, Inc.		682,975
	6,000	Poya Co. Ltd.		37,353
	603,807	President Securities Corp.		330,916
	13,650	Prime Electronics Satellitics, Inc.		9,764
	437,253	Prince Housing & Development Corp.		201,990
	121,000	Prodisc Technology, Inc.(b)(c)(d)		0
	26,000	Promate Electronic Co. Ltd.		30,479
	34,000	Promise Technology, Inc.		44,811
	781,520	Qisda Corp.(b)		253,105
	95,000	Quanta Storage, Inc.		118,286
	151,084	Quintain Steel Co. Ltd.(b)		33,371
	152,008	Radiant Opto-Electronics Corp.		611,596
	389,335	Radium Life Tech Co. Ltd.		304,913
	10,000	Ralec Electronic Corp.		19,074
	83,825	Realtek Semiconductor Corp.		239,000
	88,128	Rechi Precision Co. Ltd.		94,700
	29,348	Rexon Industrial Corp. Ltd.(b)		10,982
	163,616	Rich Development Co. Ltd.		76,937
	28,370	Richtek Technology Corp.		162,528
	1,186,398	Ritek Corp.(b)		185,436
	80,000	Ruentex Development Co. Ltd.		141,466
	237,781	Ruentex Industries Ltd.		564,570
	218,335	Sampo Corp.		83,869
	32,574	San Fang Chemical Industry Co. Ltd.		31,875
	340,080	Sanyang Industrial Co. Ltd.		311,385
	17,680	ScinoPharm Taiwan Ltd.		48,067
	25,000	SDI Corp.		37,006
	16,000	Senao International Co. Ltd.		42,122
	37,000	Sercomm Corp.		74,495
	21,000	Sesoda Corp.		21,871
	33,000	Sheng Yu Steel Co. Ltd.		24,697
	16,360	ShenMao Technology, Inc.		21,860
	70,000	Shih Wei Navigation Co. Ltd.		47,056
	119,000	Shihlin Electric & Engineering Corp.		143,834
	23,000	Shihlin Paper Corp.(b)		32,522
	5,614,425	Shin Kong Financial Holding Co. Ltd.		1,699,313
	85,000	Shin Kong No.1 REIT		35,888
	30,000	Shin Zu Shing Co. Ltd.		81,264
	75,985	Shining Building Business Co. Ltd.(b)		60,641
	119,000	Shinkong Insurance Co. Ltd.		92,408
	655,314	Shinkong Synthetic Fibers Corp.		210,713
	79,000	Shinkong Textile Co. Ltd.		99,541
	76,000	Shuttle, Inc.		29,697

Shares			Value
TAIWAN (continued)
	173,000	Sigurd Microelectronics Corp.	$	171,866
	268,000	Silicon Integrated Systems Corp.(b)		76,057
	32,122	Silitech Technology Corp.		43,453
	56,000	Simplo Technology Co. Ltd.		291,145
	85,000	Sinbon Electronics Co. Ltd.		126,383
	140,170	Sincere Navigation Corp.		122,077
	23,000	Singatron Enterprise Co. Ltd.		12,034
	6,000	Sinmag Equipment Corp.		33,380
	126,000	Sino-American Silicon Products, Inc.(b)		210,709
	151,000	Sinon Corp.		88,256
	13,486	Sinphar Pharmaceutical Co. Ltd.		22,821
	50,158	Sinyi Realty Co.		89,360
	14,000	Sirtec International Co. Ltd.		25,406
	20,000	Sitronix Technology Corp.		39,605
	97,000	Siward Crystal Technology Co. Ltd.(b)		56,212
	23,000	Soft-World International Corp.		79,591
	80,000	Solar Applied Materials Technology Co.		70,998
	48,013	Solartech Energy Corp.(b)		35,933
	48,500	Solomon Technology Corp.		30,997
	93,000	Solytech Enterprise Corp.(b)		31,413
	15,000	Sonix Technology Co. Ltd.		28,164
	132,000	Southeast Cement Co. Ltd.		69,938
	5,000	Sporton International, Inc.		21,939
	9,000	St Shine Optical Co. Ltd.		190,443
	8,560	Standard Chemical & Pharmaceutical Co. Ltd.		11,594
	88,142	Standard Foods Corp.		242,261
	33,000	Stark Technology, Inc.		31,691
	22,000	Sunonwealth Electric Machine Industry Co. Ltd.		16,975
	101,399	Sunplus Technology Co. Ltd.(b)		38,447
	43,000	Sunrex Technology Corp.		19,152
	24,000	Sunspring Metal Corp.		48,480
	80,127	Supreme Electronics Co. Ltd.		43,781
	85,659	Sweeten Construction Co. Ltd.		55,739
	15,000	Syncmold Enterprise Corp.		26,078
	157,000	Synnex Technology International Corp.		244,094
	145,322	TA Chen Stainless Pipe Co. Ltd.		80,847
	670,254	TA Chong Bank Ltd.(b)		223,063
	253,340	Ta Ya Electric Wire & Cable.		61,745
	70,000	Tah Hsin Industrial Corp.		66,528
	42,041	TA-I Technology Co. Ltd.		23,180
	697,991	Taichung Commercial Bank		232,294
	22,000	Taiflex Scientific Co. Ltd.		42,619
	78,000	Tainan Enterprises Co. Ltd.		82,396
	922,672	Tainan Spinning Co. Ltd.		620,248
	2,150,896	Taishin Financial Holding Co. Ltd.		975,802
	71,716	Taisun Enterprise Co. Ltd.(b)		30,398
	168,924	Taita Chemical Co. Ltd.(b)		56,778
	12,000	Taiwan Acceptance Corp.		30,399

Shares			Value
TAIWAN (continued)
	2,602,191	Taiwan Business Bank(b)	$	758,305
	137,088	Taiwan Cogeneration Corp.		91,020
	6,000	Taiwan FamilyMart Co. Ltd.		41,725
	127,000	Taiwan Fertilizer Co. Ltd.		252,335
	103,320	Taiwan Fire & Marine Insurance Co.		80,232
	65,000	Taiwan FU Hsing Industrial Co. Ltd.		66,942
	324,223	Taiwan Glass Industrial Corp.		296,329
	59,468	Taiwan Hon Chuan Enterprise Co. Ltd.		122,489
	50,000	Taiwan Hopax Chemicals Manufacturing Co. Ltd.		40,400
	217,734	Taiwan Land Development Corp.(b)		80,033
	141,114	Taiwan Life Insurance Co. Ltd.(b)		108,646
	11,000	Taiwan Line Tek Electronic		10,436
	92,150	Taiwan Mask Corp.		31,431
	82,544	Taiwan Navigation Co. Ltd.		60,682
	190,032	Taiwan Paiho Ltd.		249,198
	149,000	Taiwan PCB Techvest Co. Ltd.		211,673
	22,000	Taiwan Prosperity Chemical Corp.		21,491
	95,120	Taiwan Pulp & Paper Corp.(b)		35,751
	18,360	Taiwan Sakura Corp.		13,163
	17,850	Taiwan Sanyo Electric Co. Ltd.		20,334
	86,117	Taiwan Secom Co. Ltd.		218,444
	105,000	Taiwan Semiconductor Co. Ltd.		115,438
	101,000	Taiwan Sogo Shin Kong Security Co. Ltd.		136,459
	81,429	Taiwan Styrene Monomer(b)		45,706
	117,250	Taiwan Surface Mounting Technology Co. Ltd.		174,916
	175,469	Taiwan TEA Corp.(b)		108,659
	71,000	Taiwan Union Technology Corp.		69,124
	68,322	Taiyen Biotech Co. Ltd.		58,145
	288,000	Tatung Co. Ltd.(b)		91,079
	1,553,000	Teco Electric and Machinery Co. Ltd.		1,686,814
	10,000	Tecom Co. Ltd.(b)		1,027
	10,000	Tekcore Co. Ltd.(b)		4,702
	13,000	Ten Ren Tea Co. Ltd.		20,879
	31,000	Test Research, Inc.		51,944
	41,000	ThaiLin Semiconductor Corp.		28,376
	17,000	Thinking Electronic Industrial Co. Ltd.		28,148
	60,525	Thye Ming Industrial Co, Ltd.		69,648
	48,000	T-Mac Techvest PCB Co. Ltd.		35,684
	359,100	Ton Yi Industrial Corp.		381,718
	23,000	Tong Hsing Electronic Industries Ltd.		123,386
	67,834	Tong Yang Industry Co. Ltd.		97,153
	79,694	Tong-Tai Machine & Tool Co. Ltd.		80,491
	73,370	Topco Scientific Co. Ltd.		136,788

Shares			Value
TAIWAN (continued)
	68,049	Topoint Technology Co. Ltd.	$	48,674
	13,000	Toung Loong Textile Manufacturing Co.		37,065
	56,000	Transasia Airways Corp.		21,790
	35,137	Transcend Information, Inc.		115,890
	93,122	Tripod Technology Corp.		183,173
	27,988	Tsann Kuen Enterprise Co. Ltd.		39,529
	104,802	TSRC Corp.		153,743
	22,000	TTET Union Corp.		55,295
	14,157	TTY Biopharm Co. Ltd.		44,208
	560,315	Tung Ho Steel Enterprise Corp.		477,784
	137,815	TXC Corp.		198,750
	56,000	TYC Brother Industrial Co. Ltd.(b)		35,420
	251,303	Tycoons Group Enterprise(b)		44,522
	104,253	Tyntek Corp.(b)		35,041
	43,000	U-Ming Marine Transport Corp.		72,336
	852,288	Unimicron Technology Corp.		723,928
	368,576	Union Bank of Taiwan(b)		131,207
	30,769	Union Insurance Co. Ltd.(b)		19,869
	285,037	Unitech Printed Circuit Board Corp.(b)		110,908
	74,000	United Integrated Services Co. Ltd.		80,621
	283,000	Universal Cement Corp.		270,836
	53,416	Unizyx Holding Corp.(b)		29,628
	268,922	UPC Technology Corp.		119,331
	253,337	USI Corp.		160,234
	9,000	U-Tech Media Corp.(b)		2,119
	147,000	Vanguard International Semiconductor Corp.		200,556
	56,800	Ve Wong Corp.		43,449
	16,000	Visual Photonics Epitaxy Co. Ltd.		17,008
	9,000	Vivotek, Inc.		43,215
	83,000	Wafer Works Corp.(b)		42,327
	117,000	Wah Lee Industrial Corp.		222,780
	1,087,000	Walsin Lihwa Corp.(b)		356,358
	235,947	Walsin Technology Corp.(b)		70,320
	185,000	Walton Advanced Engineering, Inc.(b)		76,578
	262,300	Wan Hai Lines Ltd.		130,724
	924,801	Waterland Financial Holdings Co. Ltd.		289,709
	114,000	Wei Chuan Foods Corp.		169,313
	125,321	Wei Mon Industry Co. Ltd(b)		39,632
	65,100	Weikeng Industrial Co. Ltd.		51,200
	15,606	Well Shin Technology Co. Ltd.		28,475
	26,000	Weltrend Semiconductor, Inc.		23,935
	264,000	Win Semiconductors Corp.		235,168
	1,667,977	Winbond Electronics Corp.(b)		500,979
	1,080,673	Wintek Corp.(b)		361,441
	108,000	Wisdom Marine Lines Co. Ltd.		129,823
	1,471,402	Wistron Corp.		1,227,874
	63,928	Wistron NeWeb Corp.		149,034
	575,865	WPG Holdings Co. Ltd.		707,484

Shares			Value
TAIWAN (continued)
	110,348	WT Microelectronics Co. Ltd.	$	150,551
	46,000	WUS Printed Circuit Co. Ltd.		24,372
	12,000	Xxentria Technology Materials Corp.		33,896
	660,300	Yageo Corp.		313,773
	1,163,600	Yang Ming Marine Transport Corp.(b)		475,875
	95,144	YC Co. Ltd.		69,157
	211,077	YC INOX Co. Ltd.		195,713
	52,995	YeaShin International Development Co. Ltd.		37,204
	524,624	YFY, Inc.		231,058
	81,159	Yi Jinn Industrial Co. Ltd.(b)		22,844
	365,596	Yieh Phui Enterprise Co. Ltd.(b)		112,955
	63,000	Young Fast Optoelectronics Co. Ltd.		61,022
	28,000	Youngtek Electronics Corp.		59,342
	352,000	Yulon Motor Co. Ltd.		546,685
	29,000	Yung Chi Paint & Varnish Manufacturing Co. Ltd.		76,826
	61,000	YungShin Global Holding Corp.		111,706
	130,000	Yungtay Engineering Co. Ltd.		383,138
	9,000	Zeng Hsing Industrial Co. Ltd.		50,666
	92,000	Zenitron Corp.		54,381
	55,000	Zhen Ding Technology Holding Ltd.		159,365
	196,826	Zig Sheng Industrial Co. Ltd.(b)		59,964
	50,169	Zinwell Corp.		51,418
	4,000	Zippy Technology Corp.		7,312
				85,729,177
THAILAND — 0.3%
	272,500	Amata Corp. Public Co. Ltd. - FOR		132,208
	413,880	AP Thailand Public Co. Ltd. - FOR		72,902
	179,700	AP Thailand Public Co. Ltd. - NVDR		31,653
	369,200	Asia Plus Securities Public Co. Ltd. - FOR		39,932
	404,300	Bangchak Petroleum Public Co. Ltd. (The) - FOR		399,802
	6,500	Bangkok Aviation Fuel Services Public Co. Ltd. - FOR		6,327
	13,235,850	Bangkok Chain Hospital Public Co. Ltd. - FOR(d)		3,006,289
	2,324,700	Bangkok Expressway Public Co. Ltd. - FOR(d)		2,460,475
	30,800	Bangkok Insurance Public Co. Ltd. - FOR(d)		328,368
	1,742,100	Bangkok Land Public Co. Ltd. - FOR		87,751
	449,300	Banpu Public Co. Ltd. - FOR		416,533
	94,100	Berli Jucker Public Co. Ltd. - FOR		138,853

Shares			Value
THAILAND (continued)
	1,400	Big C Supercenter Public Co. Ltd. - FOR	$	8,220
	62,700	Bumrungrad Hospital Public Co. Ltd. - FOR		189,883
	1,205,256	Cal-Comp Electronics Thailand Public Co. Ltd. - FOR		96,093
	211,000	Central Plaza Hotel Public Co. Ltd. - FOR		202,132
	252,900	CH Karnchang Public Co. Ltd. - FOR		144,581
	29,800	Charoong Thai Wire & Cable Public Co. Ltd. - FOR		8,518
	307,400	Delta Electronics Thailand Public Co. Ltd. - FOR		541,465
	31,200	Dynasty Ceramic Public Co. Ltd. - FOR		50,618
	6,497,000	Eastern Water Resources Development and Management Public Co. Ltd. - FOR(d)		2,208,498
	40,000	Electricity Generating Public Co. Ltd. - FOR		162,546
	627,900	Esso Thailand Public Co. Ltd. - FOR(b)		121,272
	12,801,000	G J Steel Public Co. Ltd. - FOR(b)(c)(d)		23,735
	1,289,700	G Steel Public Co. Ltd. - FOR(b)(c)(d)		5,978
	224,000	GFPT Public Co. Ltd. - FOR		97,602
	116,000	Glow Energy Public Co. Ltd. - FOR		278,708
	233,500	Hana Microelectronics Public Co. Ltd. - FOR		232,706
	1,398,600	Hemaraj Land and Development Public Co. Ltd. - FOR		153,863
	1,282,204	Home Product Center Public Co. Ltd. - FOR		354,627
	63,100	ICC International Public Co. Ltd. - FOR(d)		77,023
	2,393,600	IRPC Public Co. Ltd. - FOR		272,202
	769,691	Italian-Thai Development Public Co. Ltd. - FOR(b)		87,530
	930,500	Jasmine International Public Co. Ltd. - FOR		238,663
	25,600	KCE Electronics Public Co. Ltd. - FOR		27,689
	240,600	KGI Securities Thailand Public Co. Ltd. - FOR		21,562
	155,100	Khon Kaen Sugar Industry Public Co. Ltd.		67,101
	150,800	Kiatnakin Bank Public Co. Ltd. - FOR		200,383
	225,100	Land and Houses Public Co. Ltd. - FOR		70,257
	452,800	Land and Houses Public Co. Ltd. - NVDR		138,527
	21,900	Lanna Resources Public Co. Ltd. - FOR		8,730

Shares			Value
THAILAND (continued)
	420,630	Loxley Public Co. Ltd. - FOR	$	51,994
	203,800	LPN Development Public Co. Ltd. - FOR		109,583
	85,600	Major Cineplex Group Public Co. Ltd. - FOR		50,789
	30,600	Maybank Kim Eng Securities Thailand Public Co. Ltd. - FOR		20,142
	369,000	MBK Public Co. Ltd.		173,325
	71,100	MCOT Public Co. Ltd. - FOR		62,619
	34,000	Mermaid Maritime Public Co. Ltd.		13,153
	143,770	Minor International Public Co. Ltd. - FOR		109,294
	160,800	Polyplex Public Co. Ltd. - FOR		49,443
	240,500	Precious Shipping Public Co. Ltd. - FOR		204,380
	386,800	Pruksa Real Estate Public Co. Ltd. - FOR		267,748
	805,141	Quality Houses Public Co. Ltd. - FOR		81,111
	118,700	Ratchaburi Electricity Generating Holding Public Co. Ltd. - FOR		195,327
	34,100	Regional Container Lines Public Co. Ltd. - FOR(b)		6,639
	129,100	Robinson Department Store Public Co. Ltd. - FOR		201,469
	28,500	Rojana Industrial Park Public Co. Ltd. - FOR		6,341
	69,300	Saha-Union Public Co. Ltd. - FOR(d)		80,843
	140,200	Samart Corp. Public Co. Ltd. - FOR		89,250
	35,700	Samart Telcoms Public Co. Ltd. - FOR		17,651
	1,921,500	Sansiri Public Co. Ltd. - FOR		113,414
	947,812	SC Asset Corp Public Co. Ltd. - FOR		100,756
	15,100	Siam City Cement Public Co. Ltd. - FOR		180,117
	46,701	Siam Future Development Public Co. Ltd. - FOR		8,082
	81,300	Siamgas & Petrochemicals Public Co. Ltd. - FOR		52,257
	99,500	Sino-Thai Engineering & Construction Public Co. Ltd. - FOR		57,191
	44,000	SNC Former Public Co. Ltd. - FOR		22,979
	92,817	Somboon Advance Technology Public Co. Ltd. - FOR		49,621
	56,200	SPCG Public Co. Ltd.(b)		36,818
	119,100	Sri Trang Agro-Industry Public Co. Ltd. - FOR		54,471
	36,400	Srithai Superware Public Co. Ltd. - FOR		28,402
	128,500	STP & I Public Co. Ltd. - FOR		84,581

Shares			Value
THAILAND (continued)
	263,800	Supalai Public Co. Ltd. - FOR	$	158,965
	1,330,700	Tata Steel Thailand Public Co. Ltd. - FOR(b)		32,075
	474,800	Thai Airways International Public Co. Ltd. - FOR(b)		190,742
	22,200	Thai Carbon Black Public Co. Ltd. - FOR(b)		18,351
	15,000	Thai Central Chemical Public Co. Ltd. - FOR		12,631
	18,000	Thai Oil Public Co. Ltd. - FOR		29,064
	18,200	Thai Stanley Electric Public Co. Ltd. - FOR		119,796
	200,718	Thai Union Frozen Products Public Co. Ltd. - FOR		434,186
	86,300	Thai Vegetable Oil Public Co. Ltd. - FOR		63,738
	204,400	Thaicom Public Co. Ltd. - FOR		255,816
	425,100	Thanachart Capital Public Co. Ltd. - FOR		456,496
	32,700	Thitikorn Public Co. Ltd. - FOR		10,055
	349,003	Thoresen Thai Agencies Public Co. Ltd. - FOR(b)		223,250
	5,033,137	Ticon Industrial Connection Public Co. Ltd. - FOR(d)		2,488,572
	18,500	Tipco Asphalt Public Co. Ltd. - FOR		31,300
	195,000	Tisco Financial Group Public Co. Ltd. - FOR		239,532
	5,285,900	TMB Bank Public Co. Ltd. - FOR		375,697
	130,200	Total Access Communication Public Co. Ltd. - FOR		502,936
	18,317	Toyo-Thai Corp. Public Co. Ltd. - FOR		21,509
	600,000	TPI Polene Public Co. Ltd. - FOR		220,643
	33,400	TTW Public Co. Ltd.		10,321
	256,900	Vinythai Public Co. Ltd. - FOR		84,945
				21,772,215
TURKEY — 0.1%
	13,325	Adana Cimento Sanayii T.A.S. - Class A		25,746
	2,248	Adese Alisveris Merkezleri Ticaret AS(b)		18,524
	13,070	Akcansa Cimento AS		76,135
	54,299	Akenerji Elektrik Uretim AS - Placement Shares(b)		33,173
	13,189	Akfen Holding AS		27,608
	325	Akmerkez Gayrimenkul Yatirim Ortakligi AS REIT		2,650
	61,656	Aksa Akrilik Kimya Sanayii		214,323
	73,605	Aksigorta AS		101,438
	20,024	Alarko Holding AS		45,992
	104,806	Albaraka Turk Katilim Bankasi AS		82,890
	92,536	Anadolu Anonim Tuerk Sigorta Sirketi(b)		63,544

Shares			Value
TURKEY (continued)
	9,287	Anadolu Cam Sanayii AS	$	8,313
	36,333	Anadolu Hayat Emeklilik AS		76,055
	46,057	Arcelik AS		283,554
	12,441	Aselsan Elektronik Sanayi Ve Ticaret AS		55,207
	356,187	Asya Katilim Bankasi AS(b)		273,270
	46,890	Aygaz AS		193,196
	679	Bagfas Bandirma Gubre Fabrik(b)		13,699
	846	Baticim Bati Anadolu Cimento Sanayii AS(b)		2,424
	1,875	Bizim Toptan Satis Magazalari AS		17,759
	12,360	Borusan Mannesmann Boru Sanayi ve Ticaret AS		40,214
	6,211	Boyner Perakende Ve Tekstil Yatirimlari AS(b)		157,514
	21,074	Brisa Bridgestone Sabanci Sanayi ve Ticaret AS		62,677
	16,881	Bursa Cimento Fabrikasi AS		33,657
	0	Celebi Hava Servisi AS		3
	29,087	Cimsa Cimento Sanayi ve Ticaret AS		169,435
	21,156	Deva Holding AS(b)		17,734
	259,431	Dogan Sirketler Grubu Holdings AS(b)		88,461
	207,143	Dogan Yayin Holding AS(b)		50,031
	55,895	Dogus Otomotiv Servis ve Ticaret AS		211,504
	13,370	Eczacibasi Yatirim Holding Ortakligi AS		33,685
	24,801	EGE Seramik Sanayi ve Ticaret AS		33,827
	144,670	EIS Eczacibasi Ilac ve Sinai ve Finansal Yatirimlar Sanayi ve Ticaret AS		158,267
	157,131	Emlak Konut Gayrimenkul Yatirim Ortakligi AS REIT		205,385
	475,611	Eregli Demir ve Celik Fabrikalari TAS		659,960
	17,827	Ford Otomotiv Sanayi AS		201,356
	66,324	Gentas Genel Metal Sanayi ve Ticaret AS		41,775
	67,762	Global Yatirim Holding AS		39,793
	2,148	Goltas Goller Bolgesi Cimento Sanayi ve Ticaret AS		55,949
	1,774	Goodyear Lastikleri TAS		56,079
	15,728	Gozde Girisim Sermayesi Yatirim Ortakligi AS(b)		20,260
	74,533	GSD Holding AS(b)		52,947
	21,044	Gubre Fabrikalari TAS(b)		41,758
	1	Hurriyet Gazetecilik AS(b)		0
	111,480	Ihlas Holding AS(b)		17,950
	51,657	Ipek Dogal Enerji Kaynaklari Ve Uretim AS(b)		65,564
	39,541	IS Finansal Kiralama AS		18,351
	9,908	IS Yatirim Menkul Degerler AS		5,818
	25,002	Izmir Demir Celik Sanayi AS(b)		33,864

Shares			Value
TURKEY (continued)
	28,550	Kardemir Karabuk Demir Celik Sanayi ve Ticaret AS - Class A(b)	$	32,180
	24,485	Kardemir Karabuk Demir Celik Sanayi ve Ticaret AS - Class B(b)		37,686
	187,769	Kardemir Karabuk Demir Celik Sanayi ve Ticaret AS - Class D(b)		134,276
	100,082	Karsan Otomotiv Sanayii Ve Ticaret AS(b)		49,293
	428	Kartonsan Karton Sanayi ve Ticaret AS		48,692
	496	Konya Cimento Sanayii AS		62,835
	57,679	Kordsa Global Endustriyel Iplik ve Kord Bezi Sanayi ve Ticaret AS		110,630
	9,480	Koza Altin Isletmeleri AS		94,506
	36,000	Koza Anadolu Metal Madencilik Isletmeleri AS(b)		43,646
	18,103	Mardin Cimento Sanayii ve Ticaret AS		39,780
	71,042	Menderes Tekstil Sanayi ve Ticaret AS(b)		18,841
	13,216	Metro Ticari ve Mali Yatirimlar Holding AS(b)		4,131
	9,707	Migros Ticaret AS(b)		87,345
	4,289	Netas Telekomunikasyon AS		14,726
	2,613	Nuh Cimento Sanayi AS		12,387
	5,026	Otokar Otomotiv Ve Savunma Sanayi AS		124,368
	25,909	Park Elektrik Uretim Madencilik Sanayi ve Ticaret AS(b)		48,344
	113,035	Petkim Petrokimya Holding AS(b)		160,596
	133	Pinar Entegre Et ve Un Sanayi AS		624
	7,882	Pinar SUT Mamulleri Sanayii AS		68,124
	82,244	Sarkuysan Elektrolitik Bakir Sanayi ve Ticaret AS		119,575
	84,071	Sasa Polyester Sanayi(b)		49,769
	166,410	Sekerbank TAS(b)		155,254
	131,825	Selcuk Ecza Deposu Ticaret ve Sanayi AS		124,237
	37,937	Soda Sanayii AS		56,055
	9,473	Tat Gida Sanayi AS(b)		9,690
	22,285	TAV Havalimanlari Holding AS		178,360
	32,390	Tekfen Holding AS		81,759
	5,679	Teknosa Ic Ve Dis Ticaret AS		32,274
	62,692	Tekstil Bankasi AS(b)		57,598
	31,036	Tofas Turk Otomobil Fabrikasi AS		189,608
	9,410	Torunlar Gayrimenkul Yatirim Ortakligi AS REIT		15,999
	161,759	Trakya Cam Sanayii AS		183,856
	44,783	Turcas Petrol AS		54,506
	207,439	Turk Hava Yollari		663,120

Shares			Value
TURKEY (continued)
	1,592	Turk Traktor ve Ziraat Makineleri AS	$	45,727
	448,792	Turkiye Sinai Kalkinma Bankasi AS		405,955
	362,888	Turkiye Sise ve Cam Fabrikalari AS		453,706
	402,227	Turkiye Vakiflar Bankasi Tao		840,056
	61,668	Ulker Biskuvi Sanayi AS		470,201
	16,077	Vestel Beyaz Esya Sanayi ve Ticaret AS(b)		27,714
	55,650	Vestel Elektonik Sanayi ve Ticaret AS(b)		49,811
	34,098	Zorlu Enerji Elektrik Uretim AS(b)		18,409
				9,665,567
UNITED ARAB EMIRATES — 0.1%
	121,294	Al Noor Hospitals Group Plc		2,043,821
	94,854	Dragon Oil Plc(b)(d)		1,007,363
	584,663	Gulf Marine Services Plc(b)		1,579,424
	138,428	Lamprell Plc(b)		358,761
				4,989,369
UNITED KINGDOM — 7.8%
	1,160	4imprint Group Plc		13,210
	278,982	Aberdeen Asset Management Plc		2,057,462
	7,449	Acal Plc		45,025
	37,004	Admiral Group Plc		873,432
	699,021	Afren Plc(b)		1,858,848
	31,402	African Barrick Gold Plc		131,646
	4,696	Aga Rangemaster Group Plc(b)		13,796
	68,671	Aggreko Plc		1,828,429
	172,698	Alent Plc		927,230
	148,020	AMEC Plc		3,086,458
	225,854	Amlin Plc		1,707,214
	40,996	Anglo Pacific Group Plc		131,859
	3,737	Anglo-Eastern Plantations		44,798
	68,300	Anite Plc		94,848
	94,585	Ashmore Group Plc		559,576
	273,530	Ashtead Group Plc		4,038,665
	6,071	Avon Rubber Plc		64,269
	115,161	Babcock International Group Plc		2,321,575
	423,852	Balfour Beatty Plc		2,005,905
	22,893	BARR (A.G.) Plc		239,065
	585,612	Barratt Developments Plc		3,653,402
	142,558	BBA Aviation Plc		746,150
	78,149	Bellway Plc		1,898,704
	49,371	Berendsen Plc		862,751
	108,436	Berkeley Group Holdings Plc		4,199,909
	6,530	Betfair Group Plc		106,614
	16,127	Big Yellow Group Plc REIT		139,955
	9,080	Bloomsbury Publishing Plc		24,606
	1,307,376	Bodycote Plc(d)		16,124,778
	104,197	Booker Group Plc		258,610
	11,496	Boot (Henry) Plc		42,313

Shares			Value
UNITED KINGDOM (continued)
	83,542	Bovis Homes Group Plc	$	1,115,013
	5,675	Braemar Shipping Services Plc		50,088
	9,901	Brammer Plc		78,443
	81,352	Brewin Dolphin Holdings Plc		443,653
	71,243	British Land Co. Plc REIT		830,575
	4,627	British Polythene Industries Plc		49,295
	46,738	Britvic Plc		571,718
	71,760	BTG Plc(b)		644,566
	150,395	Bunzl Plc		4,268,489
	84,926	Burberry Group Plc		2,129,316
	596,442	Cable & Wireless Communications Plc		531,710
	11	Camellia Plc		1,845
	107,175	Capita Plc		1,963,343
	74,940	Capital & Counties Properties Plc		422,224
	91,052	Capital & Regional Plc		70,716
	11,197	Carclo Plc		34,029
	349,116	Carillion Plc		2,179,765
	1,086	Carpetright Plc(b)		10,727
	3,699	Charles Stanley Group Plc		29,665
	3,384	Charles Taylor Plc		14,884
	96,995	Chemring Group Plc		366,835
	57,086	Chesnara Plc		317,584
	23,254	Chime Communications Plc		137,024
	63,977	Cineworld Group Plc		348,629
	4,407	Clarkson Plc		198,370
	61,525	Close Brothers Group Plc		1,450,140
	550,626	Cobham Plc		2,869,897
	170,165	Colt Group SA(b)		376,370
	27,870	Communisis Plc		30,704
	57,481	Computacenter Plc		631,798
	23,566	Concentric AB		333,437
	22,043	Connect Group Plc		66,991
	6,595	Consort Medical Plc		98,210
	6,920	Costain Group Plc		31,458
	16,173	Cranswick Plc		326,857
	4,000	Creston Plc		7,767
	657,578	Croda International Plc(d)		28,600,008
	73,400	CSR Plc		711,966
	102,197	Daily Mail & General Trust Plc - Class A		1,405,408
	54,059	Dairy Crest Group Plc		421,589
	26,485	Darty Plc		45,723
	913,022	De La Rue Plc(d)		12,632,905
	679,815	Debenhams Plc		920,530
	10,051	Dechra Pharmaceuticals Plc		117,093
	31,032	Derwent London Plc REIT		1,425,121
	29,907	Development Securities Plc		122,702
	89,965	Devro Plc		321,260
	10,213	Dignity Plc		246,755
	1,077,480	Diploma Plc(d)		11,979,482
	1,041,571	Dixons Retail Plc(b)		791,009
	1,038,544	Domino Printing Sciences Plc(d)		13,589,380
	42,149	Domino’s Pizza Group Plc		365,783

Shares			Value
UNITED KINGDOM (continued)
	295,471	Drax Group Plc	$	3,302,523
	238,474	DS Smith Plc		1,268,308
	6,273	Dunelm Group Plc		99,187
	25,606	E2V Technologies Plc		72,091
	79,189	easyJet Plc		2,188,702
	230,794	Electrocomponents Plc		1,131,993
	229,079	Elementis Plc		1,072,527
	460,990	EnQuest Plc(b)		1,068,649
	1,070,000	Ensco Plc - Class A		53,981,500
	367,016	Enterprise Inns Plc(b)		845,845
	97,005	Essentra Plc		1,310,259
	8,205	Euromoney Institutional Investor Plc		148,230
	304,900	F&C Asset Management Plc		614,660
	1,193,289	Fenner Plc(d)		8,339,002
	9,707	Fidessa Group Plc		367,446
	792	Findel Plc(b)		3,610
	645,023	Firstgroup Plc(b)		1,407,054
	3,248	Fuller Smith & Turner - Class A		52,892
	539,467	G4S Plc		2,149,562
	28,463	Galliford Try Plc		570,913
	5,558	Games Workshop Group Plc		53,724
	44,117	Gem Diamonds Ltd.(b)		123,648
	24,405	Genus Plc		417,821
	1,111,091	GKN Plc		7,203,671
	14,268	Go-Ahead Group Plc		475,295
	38,840	Great Portland Estates Plc REIT		411,168
	727,541	Greene King Plc(d)		10,938,668
	42,366	Greggs Plc		382,687
	89,848	Halfords Group Plc		671,570
	1,057,069	Halma Plc(d)		10,021,348
	84,204	Hammerson Plc REIT		811,076
	75,006	Hansteen Holdings Plc REIT		130,312
	78,688	Hargreaves Lansdown Plc		1,554,416
	269,194	Hays Plc		684,939
	7,436	Headlam Group Plc		60,609
	45,677	Helical Bar Plc		279,948
	1,906,443	HellermannTyton Group Plc(d)		10,139,287
	316,889	Helphire Group Plc		32,851
	359,922	Henderson Group Plc		1,524,084
	71,298	Hikma Pharmaceuticals Plc		1,868,281
	38,157	Hill & Smith Holdings Plc		359,808
	337	Hilton Food Group Plc		3,036
	26,318	Hochschild Mining Plc		73,318
	5,026	Hogg Robinson Group Plc		6,280
	454,892	Home Retail Group Plc		1,566,793
	144,901	Homeserve Plc		826,426
	211,194	Howden Joinery Group Plc		1,159,592
	62,365	Hunting Plc		891,335
	23,501	Huntsworth Plc		23,807
	3,454	Hyder Consulting Plc		27,394
	279,534	ICAP Plc		1,954,397
	70,020	IG Group Holdings Plc		751,886
	14,815	Imagination Technologies Group Plc(b)		49,077
	89,696	IMI Plc		2,271,629

Shares			Value
UNITED KINGDOM (continued)
	323,638	Inchcape Plc	$	3,502,600
	85,421	Inmarsat Plc		1,049,951
	549,715	Innovation Group Plc(b)		294,682
	82,005	InterContinental Hotels Group Plc		2,794,052
	27,869	International Consolidated Airlines Group(b)		190,144
	1,087,165	Interserve Plc(d)		12,133,049
	41,164	Intertek Group Plc		2,019,697
	65,377	Intu Properties Plc REIT		322,315
	236,494	Investec Plc		2,082,320
	73,267	IP Group Plc(b)		212,770
	45,416	ITE Group Plc		176,364
	165,165	Ithaca Energy, Inc.(b)		433,990
	1,283,644	ITV Plc		3,944,473
	50,439	J D Wetherspoon Plc		718,331
	631,062	J Sainsbury Plc		3,576,814
	8,667	James Fisher & Sons Plc		188,916
	28,273	Jardine Lloyd Thompson Group Plc		503,136
	63,090	Jazztel Plc(b)		968,057
	7,378	JD Sports Fashion Plc		218,495
	6,182	John Menzies Plc		67,218
	243,164	John Wood Group Plc		3,216,706
	41,414	Johnson Matthey Plc		2,288,581
	84,713	Johnston Press Plc(b)		36,115
	35,089	Jupiter Fund Management Plc		229,985
	85,319	Kazakhmys Plc(b)		342,987
	172,730	Kcom Group Plc		274,429
	26,714	Keller Group Plc		449,684
	13,679	Kier Group Plc		384,078
	49,534	Kofax Ltd.(b)		371,957
	176,043	Ladbrokes Plc		455,653
	1,977,425	Laird Plc(d)		9,268,138
	122,471	Lancashire Holdings Ltd.		1,447,453
	30,575	Lavendon Group Plc		116,925
	79,575	London Stock Exchange Group Plc		2,434,489
	67,669	Londonmetric Property Plc REIT		158,010
	60,992	Lonmin Plc(b)		291,944
	69,882	Lookers Plc		164,593
	35,957	Low & Bonar Plc		50,389
	1,283	LSL Property Services Plc		8,686
	442,244	Man Strategic Holdings Plc(b)		735,854
	6,088	Management Consulting Group Plc		2,570
	43,460	Marshalls Plc		130,062
	402,517	Marston’s Plc		1,000,380
	60,086	McBride Plc		99,673
	1,021,462	McBride Plc - Redeemable B Shares(b)(d)		1,725
	1,244	McKay Securities Plc REIT		4,558
	28,145	Mears Group Plc		239,262
	14,664	Mecom Group Plc		32,681
	308,951	Meggitt Plc		2,486,611

Shares			Value
UNITED KINGDOM (continued)
	838,098	Melrose Industries Plc	$	4,039,931
	98,125	Michael Page International Plc		775,020
	6,827	Micro Focus International Plc		89,332
	71,806	Millennium & Copthorne Hotels Plc		672,863
	103,693	Mitchells & Butlers Plc(b)		771,202
	186,683	Mitie Group Plc		1,002,632
	231,628	Mondi Plc		3,842,348
	112,692	Moneysupermarket.com Group Plc		346,288
	153,617	Morgan Advanced Materials Plc		868,875
	15,010	Morgan Sindall Group Plc		200,841
	11,794	Mothercare Plc(b)		37,088
	80,593	N Brown Group Plc		698,052
	216,307	National Express Group Plc		1,019,303
	8,593	NCC Group Plc		27,385
	27,929	Norcros Plc		10,020
	69,409	Northgate Plc		607,628
	23,821	Novae Group Plc		217,988
	7,224	Ocado Group Plc(b)		40,982
	6,950	Optos Plc(b)		18,775
	6,337	Oxford Instruments Plc		137,914
	129,075	Pace Plc		794,787
	5,971	PayPoint Plc		114,625
	208,298	Pendragon Plc		109,023
	114,551	Pennon Group Plc		1,465,057
	256,487	Persimmon Plc(b)		5,681,620
	66,082	Petrofac Ltd.		1,621,145
	36,290	Photo-Me International Plc		82,717
	19,816	Playtech Plc		223,159
	131,010	Premier Farnell Plc		490,834
	124,046	Premier Foods Plc(b)		120,427
	263,486	Premier Oil Plc		1,507,211
	279,236	Punch Taverns Plc(b)		66,004
	78,418	PZ Cussons Plc		458,370
	195,364	QinetiQ Group Plc		695,326
	117,396	Quintain Estates & Development Plc(b)		201,184
	11,181	Rank Group Plc		30,393
	4,954	Rathbone Brothers Plc		161,849
	139,415	Redrow Plc		674,619
	9,324	Renishaw Plc		286,042
	51,233	Renold Plc(b)		44,981
	171,499	Rentokil Initial Plc		344,284
	69,193	Restaurant Group Plc		728,987
	836,459	Rexam Plc		7,004,858
	9,385	Ricardo Plc		107,354
	30,878	Rightmove Plc		1,256,433
	4,886	RM Plc		11,426
	26,258	Robert Walters Plc		141,425
	530,259	Rotork Plc(d)		23,196,822
	76,966	RPC Group Plc		779,692
	136,419	RPS Group Plc		678,318
	2,131,021	RSA Insurance Group Plc		3,531,434
	627,144	Sage Group Plc (The)		4,514,997
	52,290	Salamander Energy Plc(b)		118,303

Shares			Value
UNITED KINGDOM (continued)
	45,100	Savills Plc	$	456,879
	101,874	Schroders Plc		4,396,400
	42,407	Schroders Plc - Non Voting		1,395,476
	24,967	SDL Plc		126,989
	71,325	Segro Plc REIT		421,365
	186,503	Senior Plc		899,956
	1,033,313	Serco Group Plc		5,933,508
	80,799	Severfield-Rowen Plc(b)		83,557
	85,981	Severn Trent Plc		2,678,378
	87,706	Shaftesbury Plc REIT		979,563
	298,622	Shanks Group Plc		513,014
	337,160	SIG Plc		1,090,129
	13,544	Smith & Nephew Plc		210,267
	75,505	Smiths Group Plc		1,701,884
	127,053	Soco International Plc		926,920
	361,372	Spectris Plc		13,575,553
	249,161	Speedy Hire Plc		237,685
	286,449	Spirax-Sarco Engineering Plc(d)		14,020,663
	207,268	Spirent Communications Plc		332,977
	213,939	Spirit Pub Co. Plc		283,552
	15,991	Sportech Plc(b)		23,489
	94,269	Sports Direct International Plc(b)		1,246,246
	15,823	St. Ives Plc		52,897
	102,085	St. James’s Place Plc		1,327,167
	86,519	St. Modwen Properties Plc		542,679
	140,523	Stagecoach Group Plc		880,226
	32,005	Sthree Plc		219,120
	7,742	Stolt-Nielsen Ltd.		209,039
	8,341	SuperGroup Plc(b)		187,302
	30,559	Synergy Health Plc		639,785
	60,974	Synthomer Plc		271,783
	235,743	Talktalk Telecom Group Plc		1,141,540
	214,060	Tate & Lyle Plc		2,533,533
	2,231,492	Taylor Wimpey Plc		3,959,780
	5,162	Ted Baker Plc		161,149
	38,081	Telecity Group Plc		461,000
	10,919	Telecom Plus Plc		285,382
	279,406	Thomas Cook Group Plc(b)		824,141
	8,837	Thorntons Plc(b)		18,091
	2,222	Tipp24 SE(b)		160,608
	3,226	Topps Tiles Plc		6,999
	8,024	Torotrak Plc(b)		3,726
	110,801	Travis Perkins Plc		3,189,636
	16,317	Trifast Plc		25,483
	164,257	Trinity Mirror Plc(b)		479,781
	1,193,058	TT electronics Plc(d)		4,220,060
	228,303	TUI Travel Plc		1,649,018
	109,493	Tullett Prebon Plc		587,692
	47,049	UBM Plc		521,505
	970	UK Mail Group Plc		9,499
	320,623	Ultra Electronics Holdings Plc(d)		9,181,075
	21,072	Unite Group Plc (The)		150,316
	219,347	United Utilities Group Plc		2,947,934
	17,283	UTV Media Plc		70,033

Shares			Value
UNITED KINGDOM (continued)
	197,460	Vectura Group Plc(b)	$	470,079
	199,220	Vesuvius Plc		1,402,626
	606,745	Victrex Plc(d)		19,064,508
	11,826	Vitec Group Plc (The)		123,296
	1,370	VP Plc		14,792
	81,025	Weir Group Plc (The)		3,679,971
	43,316	WH Smith Plc		800,090
	131,326	Whitbread Plc		9,046,569
	721,708	William Hill Plc		4,322,109
	15,003	Wilmington Group Plc		57,501
	21,070	Wincanton Plc(b)		42,156
	554,279	WM Morrison Supermarkets Plc		1,880,102
	79,245	Wolfson Microelectronics Plc(b)		314,087
	32,930	Workspace Group Plc REIT		319,137
	10,776	WS Atkins Plc		233,430
	14,163	Xaar Plc		188,671
	115,645	Xchanging Plc		309,966
				550,086,329
UNITED STATES — 44.9%
	150,000	Aceto Corp.		3,282,000
	604,000	Actuant Corp. - Class A		20,451,440
	1,250,407	Advance Auto Parts, Inc.		151,661,865
	22,860	AgJunction, Inc.(b)		21,274
	154,751	Alacer Gold Corp.		369,917
	910,000	Albemarle Corp.		61,006,400
	127,000	Altera Corp.		4,130,040
	200,000	American Vanguard Corp.		3,562,000
	1,375,000	AmerisourceBergen Corp.		89,622,500
	600,000	Approach Resources Inc.(b)		12,450,000
	107,000	AptarGroup, Inc.		7,213,940
	78,840	Argonaut Gold, Inc.(b)		291,321
	90,800	Arthur J Gallagher & Co.		4,087,816
	300,000	B&G Foods, Inc.		9,840,000
	17,053	Bauer Performance Sports Ltd.(b)		236,179
	18,000	Beam, Inc.		1,502,460
	70,000	Bed Bath & Beyond, Inc.(b)		4,349,100
	131,000	Bio-Rad Laboratories, Inc. - Class A(b)		16,140,510
	8,000	Bizlink Holding, Inc.		41,857
	300,000	BJ’s Restaurants, Inc.(b)		8,565,000
	300,000	Blackbaud, Inc.		9,135,000
	26,100	BNK Petroleum, Inc.(b)		49,769
	286,262	Boart Longyear Ltd.(b)		75,792
	400,000	Bottomline Technologies, Inc.(b)(d)		12,656,000
	350,000	Brady Corp. - Class A.		9,026,500
	200,000	Bryn Mawr Bank Corp.(d)		5,456,000
	100,000	Cantel Medical Corp.		3,316,000
	300,000	Cardtronics, Inc.(b)		10,044,000
	2,870,200	CareFusion Corp.(b)		112,110,012
	225,000	Casey’s General Stores, Inc.		15,448,500
	422,100	Cepheid, Inc.(b)		18,352,908
	1,500	Chaparral Gold Corp.(b)		876
	17,000	Church & Dwight Co., Inc.		1,173,170

Shares			Value
UNITED STATES (continued)
	381,000	CLARCOR, Inc.	$	22,006,560
	28,000	Clorox Co. (The)		2,539,600
	69,000	Commerce Bancshares, Inc.		3,000,120
	200,000	Community Bank System, Inc.		7,438,000
	15,000	Cooper Cos., Inc. (The)		1,978,650
	29,000	CR Bard, Inc.		3,982,570
	2,510,000	Crown Holdings, Inc.(b)(d)		118,396,700
	570,000	CST Brands, Inc.		18,599,100
	50,000	Cullen/Frost Bankers, Inc.		3,820,500
	627,600	CVB Financial Corp.		9,075,096
	280,000	Denbury Resources, Inc.		4,709,600
	57,000	Dover Corp.		4,924,800
	182,400	E2Open, Inc.(b)		3,150,048
	48,000	Edwards Lifesciences Corp.(b)		3,910,560
	250,000	Elizabeth Arden, Inc.(b)		9,185,000
	789,000	Energizer Holdings, Inc.		88,123,410
	200,000	EnPro Industries, Inc.(b)		14,242,000
	164,000	Esterline Technologies Corp.(b)		17,879,280
	25,000	First Financial Bankshares, Inc.		1,476,250
	150,000	Flotek Industries, Inc.(b)		4,201,500
	7,200	Flowers Foods, Inc.		147,744
	1,150,000	Flowserve Corp.		84,007,500
	512,000	Forum Energy Technologies, Inc.(b)		15,288,320
	400,000	Fresh Market, Inc. (The)(b)		14,840,000
	1,910,000	Generac Holdings, Inc.(d)		112,460,800
	275,000	Genomic Health, Inc.(b)		7,216,000
	350,000	Globus Medical, Inc. - Class A(b)		8,547,000
	73,730	Golden Star Resources Ltd.(b)		45,070
	127,600	Haemonetics Corp.(b)		3,873,936
	100,000	HB Fuller Co.		4,633,000
	563,519	Henry Schein, Inc.(b)		64,370,775
	200,000	Hub Group, Inc. - Class A(b)		8,930,000
	860,500	Hubbell, Inc. - Class B(d)		101,298,060
	150,000	ICU Medical, Inc.(b)		8,367,000
	13,500	IDEX Corp.		1,006,695
	100,000	Independent Bank Corp.		3,712,000
	95,000	Informatica Corp.(b)		3,367,750
	110,000	Innospec, Inc.		4,736,600
	300,000	Integra LifeScience Holdings Corp.(b)(d)		13,674,000
	11,000	Integrated Memory Logic Ltd.		30,125
	70,000	Intuit, Inc.		5,302,500
	49,000	JM Smucker Co. (The)		4,737,320
	291,000	John Wiley & Sons, Inc. - Class A		16,720,860
	57,000	Kellogg Co.		3,809,310
	150,000	Lancaster Colony Corp.(d)		14,232,000
	200,000	Landstar System, Inc.		12,598,000
	350,000	LogMein, Inc.(b)		15,907,500
	400,000	Luminex Corp.(b)(d)		7,684,000
	500,000	Masimo Corp.(b)		13,380,000
	28,000	McCormick & Co., Inc. - Non Voting		1,993,600
	19,000	Mead Johnson Nutrition Co.		1,676,940

Shares			Value
UNITED STATES (continued)
	175,000	Measurement Specialties, Inc.(b)(d)	$	11,261,250
	10,500	Mettler-Toledo International, Inc.(b)		2,447,760
	57,000	MICROS Systems, Inc.(b)		2,935,500
	201,000	Mistras Group, Inc.(b)(d)		4,564,710
	63,000	Molson Coors Brewing Co. - Class B		3,778,110
	677	Movie Gallery, Inc.(b)(c)(d)		0
	635,305	MSC Industrial Direct Co., Inc. - Class A		57,850,873
	100,000	Navigators Group, Inc. (The)(b)(d)		5,697,000
	150,000	NBT Bancorp, Inc.		3,397,500
	1,905,746	NetApp, Inc.		67,863,615
	5,237,000	Nexteer Automotive Group Ltd.(b)		3,431,463
	275,000	Northern Oil and Gas, Inc.(b)		4,243,250
	91,000	Northern Trust Corp.		5,482,750
	400,000	NuVasive, Inc.(b)		13,484,000
	42,000	Oasis Petroleum, Inc.(b)		1,953,420
	200,000	Omnicell, Inc.(b)		5,296,000
	1,324,200	Omnicom Group, Inc.		89,621,856
	100,000	Owens & Minor, Inc.		3,354,000
	42,000	Parker Hannifin Corp.		5,328,960
	14,000	Pentair Ltd.		1,040,060
	1,696,000	PetSmart, Inc.		114,785,280
	150,000	Post Holdings, Inc.(b)		7,839,000
	200,000	Prestige Brands Holdings, Inc.(b)		6,704,000
	275,000	PROS Holdings, Inc.(b)(d)		7,535,000
	212,000	Prosperity Bancshares, Inc.		12,508,000
	500,000	QLIK Technologies, Inc.(b)		10,990,000
	425,000	Qualys, Inc.(b)(d)		8,198,250
	350,000	Raven Industries, Inc.(d)		10,815,000
	100,000	RBC Bearings, Inc.(b)		6,226,000
	650,000	RealPage, Inc.(b)		11,537,500
	97,000	Red Hat, Inc.(b)		4,719,050
	750,000	Resolute Energy Corp.(b)		5,625,000
	28,000	Rockwell Automation, Inc.		3,337,040
	1,000,000	Rockwell Collins, Inc.		77,650,000
	29,636,600	Samsonite International SA(d)		94,036,510
	150,000	SciQuest, Inc.(b)		3,597,000
	400,000	Sensient Technologies Corp.		21,620,000
	21,000	Sigma-Aldrich Corp.		2,020,410
	44,591	Sims Metal Management Ltd(b)		405,550
	57,000	Sirona Dental Systems, Inc.(b)		4,287,540
	950,000	Snap-on, Inc.(d)		110,200,000
	425,000	Snyder’s-Lance, Inc.(d)		11,288,000
	43,000	Solera Holdings, Inc.		2,785,540
	70,000	St. Jude Medical, Inc.		4,442,900
	125,000	Standex International Corp.(d)		7,421,250
	250,000	STERIS Corp.		12,012,500
	21,000	Teleflex, Inc.		2,143,890
	85,386	Thompson Creek Metals Co., Inc.(b)		229,036

Shares			Value
UNITED STATES (continued)
	174,000	TIBCO Software, Inc.(b)	$	3,415,620
	265,000	TreeHouse Foods, Inc.(b)		19,832,600
	515,000	TriMas Corp.(b)(d)		18,467,900
	1,629,690	Tupperware Brands Corp.(d)		138,376,978
	350,000	UMB Financial Corp.(d)		20,548,500
	3,475,000	Vantiv, Inc. - Class A(b)(d)		106,856,250
	1,645,000	Varian Medical Systems, Inc.(b)(d)		130,859,750
	225,000	VCA Antech, Inc.(b)		6,891,750
	500,000	Volcano Corp.(b)		8,780,000
	190,000	Washington Trust Bancorp, Inc.(d)		6,498,000
	1,750,000	Waste Connections, Inc.(d)		78,155,000
	500	WaterFurnace Renewable Energy, Inc.		10,469
	956,351	Waters Corp.(b)(d)		94,238,828
	150,000	West Pharmaceutical Services, Inc.		6,507,000
	146,000	WEX, Inc.(b)		14,011,620
	21,000	Whiting Petroleum Corp.(b)		1,548,120
	250,000	Wolverine World Wide, Inc.		7,025,000
	300,000	Woodward, Inc.		13,449,000
	1,695,000	Wyndham Worldwide Corp.		120,921,300
	85,000	Xilinx, Inc.		4,011,150
	28,000	Zimmer Holdings, Inc.		2,710,400
	139,000	Zoetis, Inc.		4,206,140
				3,162,216,593
Total Common Stocks
(Cost $4,613,689,260)				6,268,837,694
INVESTMENT COMPANY — 0.3%
	23,517,099	SEI Daily Income Trust Government II Fund, Class A, 0.01% (g)
				23,517,099
Total Investment Company
(Cost $23,517,099)				23,517,099
EXCHANGE TRADED FUNDS — 9.4%
	1,825,000	iShares Core S&P Small Cap ETF		195,512,250
	3,433,100	iShares MSCI EAFE Small Cap Index Fund		178,589,862
	234,861	iShares MSCI Japan Small Cap Index Fund		12,122,351
	95,000	iShares Russell Mid-Cap ETF		14,619,550
	196,000	SPDR Russell Nomura Small Cap Japan Fund		9,323,720
	2,354,800	SPDR S&P International Small Cap Fund		79,780,624
	160,000	SPDR S&P MidCap 400 ETF Trust		39,475,200
	400,000	Vanguard Small-Cap ETF		44,076,000

Shares			Value
	1,693,500	WisdomTree Japan Hedged Equity Fund	$	78,053,415
	160,000	WisdomTree Japan Small Cap Dividend Fund		7,912,000
Total Exchange Traded Funds
(Cost $603,921,916)				659,464,972
RIGHTS/WARRANTS—0.0%
Banks — 0.0%
	3,590	Banco Santander SA Coupons(b)		757
Consumer Discretionary — 0.0%
	1,710	Centrebet Litigation Rights(b)(c)(d)		0
	1,710	Centrebet Litigation Units(b)(c)(d)		0
	75,651	Peugeot SA Warrants, Expire 4/29/17(b)		144,732
	11,992	Rezidor Hotel Group AB Rights, Expire 5/21/14(b)(d)		5,570
	159,274	Seat Pagine Gialles SpA Warrants, Expire 9/8/14(b)(c)(d)		0
				150,302
Diversified Financials — 0.0%
	15,728	Gozde Girisim Sermayesi Yatirim Ortakligi AS Rights, Expire 5/12/14(b)		23,910
	113,369	Haitong International Securities Group Ltd. Rights, Expire 5/23/14(b)(d)		1,316
				25,226
Energy — 0.0%
	10,000	Falcon Energy Group Ltd. Rights, Expire 6/18/16(b)		255
	4,380	Lanna Resources Public Co. Ltd. Rights(b)(c)(d)		41
				296
Health Care — 0.0%
	1	Clal Biotechnology Industries Ltd. Warrants, Expire 8/5/14(b)		1
	9,812	Intercell Contigent Value Rights(b)(c)(d)		0
	201,026	KPJ Healthcare Berhad Warrants, Expire 1/23/19(b)		41,861
	9,600	Ligand Pharmaceuticals Contingent Value Rights(b)(c)(d)		0
				41,862
Industrials — 0.0%
	47,325	Aalberts Industries NV Coupons(b)(d)		0

Shares			Value
Industrials (continued)
	44,292	Babcock International Group Plc Rights(b)(d)	$	892,900
	212,660	Dialog Group Berhad Warrants, Expire 2/12/17(b)		89,219
	2,865	GS Engineering & Construction Corp. Rights, Expire 5/22/14(b)(d)		24,118
	12,777	Heijmans NV - CVA Coupons(b)(d)		0
	5,597	Kendrion NV Coupons(b)(d)		0
	49,289	Mota-Engil SGPS SA Rights, Expire 1/22/14(b)(c)(d)		20,514
	93,126	Polimex - Mostostal SA Rights(b)(c)(d)		0
	113,540	Randstad Holding NV Coupons(b)(d)		0
	82	Thermador Groupe Coupons(b)(d)		0
	26,846	Thoresen Thai Agencies Public Co. Ltd., Warrants(b)		4,978
	149,781	TNT Express NV Coupons(b)(d)		0
				1,031,729
Information Technology — 0.0%
	7,407	STS Semiconductor & Telecom- munications Rights, Expire 5/23/2014(b)(d)		4,767
Insurance — 0.0%
	1,426	Mercuries Life Insurance Co. Ltd. Rights, Expire 5/14/14(b)(d)		5
Materials — 0.0%
	52,533	Fosun International Ltd. Rights, Expire 5/13/14(b)		237
	12,547	Klabin SA Rights, Expire 5/23/14(b)		563
	16,751	Koninklijke Ten Cate NV Coupons(b)(d)		0
				800
Real Estate — 0.0%
	2,416	Africa Israel Investments Ltd. Series 9 Warrants, Expire 5/4/14(b)(d)		0
	4,310	Corio NV Coupons(b)(d)		0
	45,020	Land & Houses Public Co. Ltd. - FOR Warrants, Expire 4/28/17(b)(d)		8,904
	90,560	Land & Houses Public Co. Ltd. - NVDR Warrants, Expire 4/29/17(b)(d)		17,911
	17,348	Resilient Property Income Fund Ltd. Rights, Expire 5/16/14(b)		7,998
	1,006,627	Ticon Industrial Connection Public Co. Ltd. Rights, Expire 5/30/14(b)(d)		31,107

Shares			Value
Real Estate (continued)
	2,177	YeaShin International Development Co. Ltd. Rights, Expire 5/13/14(b)(d)	$	50
				65,970
Telecommunication Services — 0.0%
	5,008	Loxley Public Co. Ltd. Warrants(b)(d)		0
Utilities — 0.0%
	108	Cia de Gas de Sao Paulo Rights, Expire 5/28/14(b)(d)		0
Total Rights/Warrants
(Cost $635,248)				1,321,714

Principal Amount
U.S. GOVERNMENT AGENCIES — 0.2%
Federal Home Loan Bank — 0.2%
$	16,000,000	0.01%, 05/02/2014(h)		15,999,996

Total U.S. Government Agencies
(Cost $15,999,996)				15,999,996

	Shares
CASH SWEEP — 0.7%
	45,212,276	Citibank - US Dollars on Deposit in Custody Account, 0.02%(g)		45,212,276
Total Cash Sweep
(Cost $45,212,276)				45,212,276
TOTAL INVESTMENTS — 99.6%
(Cost $5,302,975,795)(a)				7,014,353,751
OTHER ASSETS IN EXCESS OF LIABILITIES — 0.4%				28,220,366
NET ASSETS — 100.0%			$	7,042,574,117

(a)	Cost for federal income tax purposes is $5,307,296,900 and net unrealized appreciation of investments is as follows:

Unrealized appreciation	$	1,823,679,878
Unrealized depreciation		(116,623,027	)
Net unrealized appreciation	$	1,707,056,851

(b)	Non-income producing security.
(c)	Fair valued security under procedures established by the Fund’s Board of Directors. The aggregate value of fair valued securities is $4,006,619, which is 0.06% of net assets and the cost is $6,954,135.
(d)	This security is considered either fully or partially illiquid. These securities, or portions thereof, have a value of $767,868,391 or 10.91% of net assets.

(e)	Security exempt from registration under Rule 144A of the Securities Act of 1933, as amended. The security may be resold in transactions exempt from registration normally to qualified institutional buyers. The security has been determined to be liquid in accordance with procedures adopted by the Fund’s Board of Directors. The aggregate value of these securities is $13,791,which is less than 0.01% of net assets.
(f)	Securities incorporated in the same country but traded on different exchanges.
(g)	Rate shown represents current yield at April 30, 2014.
(h)	The rate represents the annualized yield at time of purchase.

ADR — American Depositary Receipt
BDR — Brazilian Depositary Receipt
CDI — CHESS Depositary Interests
CPO — Certificate of Participation-Common
CVR — Contingent Value Rights
DVR — Differential Voting Rights
FOR — Foreign Ownership Restrictions
NVDR — Non Voting Depositary Receipt
PDR — Phillippine Depositary Receipt
REIT — Real Estate Investment Trust
SDR — Swedish Depositary Receipt
VVPR — Voter Verified Paper Record

Portfolio diversification by Sector (Unaudited)

Sector	Percentage of Net Assets
Banks		2.6	%
Consumer Discretionary		16.9	%
Consumer Staples		5.4	%
Diversified Financials		1.2	%
Energy		3.5	%
Health Care		11.8	%
Industrials		22.8	%
Information Technology		10.1	%
Insurance		2.2	%
Materials		8.6	%
Real Estate		2.3	%
Telecommunication Services		0.6	%
Utilities		1.0	%
Other*		11.0	%
Total		100.0	%

*	Includes cash and equivalents, exchange traded funds, rights/warrants, U.S. government agencies, investment companies, pending trades and Fund share transactions, interest and dividends receivable, prepaids, and accrued expenses payable.

Item 7. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.

Item 9. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.

There have been no material changes to the procedures by which the shareholders may recommend nominees to the registrant’s board of directors, where those changes were implemented after the registrant last provided disclosure in response to the requirements of Item 407(c)(2)(iv) of Regulation S-K (17 CFR 229.407) (as required by Item 22(b)(15) of Schedule 14A (17 CFR 240.14a-101)), or this Item.

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.

	Actual Beginning Account Value 11/1/13		Actual Ending Account Value 4/30/14		Actual Expenses Paid During Period* 11/1/13-4/30/14		Actual Expense Ratio During Period 11/1/13-4/30/14**
Large Cap Core Fund	$	1,000.00	$	1,062.30	$	5.11		1.00	%
Large Cap Strategies Fund		1,000.00		1,046.10		5.68		1.12	%
Small & Mid Cap Fund		1,000.00		1,044.70		5.63		1.11	%
Strategic Opportunities Fund		1,000.00		1,034.30		6.05		1.20	%
Real Return Fund		1,000.00		1,128.20		5.80		1.10	%
Fixed Income Fund		1,000.00		1,003.50		3.23		0.65	%
Municipal Bond Fund		1,000.00		1,009.40		2.99		0.60	%

	Hypothetical Beginning Account Value 11/1/13		Hypothetical Ending Account Value 4/30/14		Hypothetical Expenses Paid During Period* 11/1/13-4/30/14		Hypothetical Expense Ratio During Period 11/1/13-4/30/14**
Large Cap Core Fund		$1,000.00		$1,019.84		$5.01		1.00	%
Large Cap Strategies Fund		1,000.00		1,019.24		5.61		1.12	%
Small & Mid Cap Fund		1,000.00		1,019.29		5.56		1.11	%
Strategic Opportunities Fund		1,000.00		1,018.84		6.01		1.20	%
Real Return Fund		1,000.00		1,019.34		5.51		1.10	%
Fixed Income Fund		1,000.00		1,021.57		3.26		0.65	%
Municipal Bond Fund		1,000.00		1,021.82		3.01		0.60	%

Old Westbury Funds, Inc.
Large Cap Core Fund
Portfolio of Investments	*April 30, 2014*
	*(Unaudited)*

Old Westbury Funds, Inc.
Large Cap Core Fund
Portfolio of Investments - (Continued)	*April 30, 2014*
	*(Unaudited)*

Shares			Value
INVESTMENT COMPANY — 4.2%
	39,750,500	SEI Daily Income Trust Government II Fund, Class A, 0.01%(c)	$	39,750,500
Total Investment Company (Cost $39,750,500)				39,750,500
TOTAL INVESTMENTS — 99.6%
(Cost $818,808,949)(a)				943,836,544
OTHER ASSETS IN EXCESS OF LIABILITIES — 0.4%				3,592,135
NET ASSETS — 100.0%			$	947,428,679

	Old Westbury Funds, Inc.
	(Exact name of registrant as specified in charter)

	760 Moore Rd. King of Prussia, PA 19406
	(Address of principal executive offices) (Zip code)

	Andrew J. McNally BNY Mellon Investment Servicing (US) Inc. 760 Moore Rd.
	King of Prussia, PA 19406
	(Name and address of agent for service)

Disclosure of Fund Expenses (Unaudited)	3
Portfolios of Investments:
Large Cap Core Fund	5
Large Cap Strategies Fund	7
Small & Mid Cap Fund	10
Strategic Opportunities Fund	14
Real Return Fund	58
Fixed Income Fund	66
Municipal Bond Fund	71
Statements of Assets and Liabilities	92
Statements of Operations	95
Statements of Changes in Net Assets	98
Financial Highlights:
Large Cap Core Fund	102
Large Cap Strategies Fund	103
Small & Mid Cap Fund	104
Strategic Opportunities Fund	105
Real Return Fund	106
Fixed Income Fund	107
Municipal Bond Fund	108
Notes To Financial Statements	109
Additional Information (Unaudited)	141
Results of Special Meeting of Shareholders (Unaudited)	142

Old Westbury Funds, Inc.
Disclosure of Fund Expenses (Unaudited)
	*For the Period Ended April 30, 2014*

*	Expenses are equal to the average account value times the Fund’s annualized expense ratio multiplied by 181/365 to reflect the one-half year period.
**	Expense ratios are annualized and reflect existing expense waivers/reimbursements.

Old Westbury Funds, Inc.
Large Cap Strategies Fund
Portfolio of Investments	*April 30, 2014*
	*(Unaudited)*

Old Westbury Funds, Inc.
Small & Mid Cap Fund
Condensed Portfolio of Investments	*April 30, 2014*
	*(Unaudited)*

Old Westbury Funds, Inc.
Small & Mid Cap Fund
Condensed Portfolio of Investments - (Continued)	*April 30, 2014*
	*(Unaudited)*

Old Westbury Funds, Inc.
STRATEGIC OPPORTUNITIES FUND
Portfolio of Investments	*April 30, 2014*
	*(Unaudited)*

Old Westbury Funds, Inc.
Real Return Fund
Consolidated Portfolio of Investments	*April 30, 2014*
	*(Unaudited)*

Old Westbury Funds, Inc.
Fixed Income Fund
Portfolio of Investments	*April 30, 2014*
	*(Unaudited)*

Old Westbury Funds, Inc.
Municipal Bond Fund
Portfolio of Investments	*April 30, 2014*
	*(Unaudited)*

Old Westbury Funds, Inc.
Statements of Assets and Liabilities
	*April 30, 2014 (Unaudited)*

	LARGE CAP CORE FUND			LARGE CAP STRATEGIES FUND			SMALL & MID CAP FUND
ASSETS:
Investments, at fair value		$	943,836,544		$	11,434,369,488		$	7,014,353,751
Foreign currency, at value (Cost $0, $20,086,835, and $8,712,504 respectively)			—			20,086,835			8,794,491
Cash			85,012			3,844,535			81
Due from brokers for collateral			—			690,000			—
Dividends and interest receivable			3,951,857			38,264,007			12,276,536
Receivable for Fund shares sold			427,155			5,512,205			2,290,534
Receivable for investments sold			—			44,583,379			50,607,542
Unrealized appreciation on forward foreign currency exchange contracts			—			—			5,890
Prepaid expenses			25,005			51,080			47,439
Total Assets			948,325,573			11,547,401,529			7,088,376,264
LIABILITIES:
Payable for Fund shares redeemed			166,098			1,114,439			471,284
Payable for investments purchased			—			215,241,522			38,391,502
Unrealized depreciation on forward foreign currency exchange contracts			—			1,132,617			61,364
Deferred tax liability payable (Note 9)			—			926,255			325,852
Accrued expenses and other payables:
Investment advisory			488,251			7,548,805			4,675,522
Administration			48,299			550,112			346,632
Shareholder servicing fee			151,968			1,848,674			1,158,659
Custody			11,398			318,772			65,213
Legal and Audit			18,026			157,985			127,972
Other			12,854			86,303			178,147
Total Liabilities			896,894			228,925,484			45,802,147
NET ASSETS		$	947,428,679		$	11,318,476,045		$	7,042,574,117
NET ASSETS consist of:
Capital paid-in		$	795,082,415		$	9,621,448,683		$	5,079,662,681
Accumulated undistributed (distributions in excess of) net investment income			4,797,829			43,410,858			(10,490,214	)
Accumulated undistributed net realized gain/(loss) on investments and foreign currency transactions			22,520,840			92,037,650			262,221,802
Net unrealized appreciation on investments and foreign currency transactions			125,027,595			1,561,578,854			1,711,179,848
NET ASSETS		$	947,428,679		$	11,318,476,045		$	7,042,574,117
Net Asset Value, maximum offering price and redemption price per share		$	14.56		$	12.56		$	17.29
Number of shares authorized			2,500,000,000			3,000,000,000			3,500,000,000
SHARES OF CAPITAL STOCK OUTSTANDING			65,090,930			901,205,591			407,411,841
INVESTMENTS, AT COST		$	818,808,949		$	9,871,140,741		$	5,302,975,795

	STRATEGIC OPPORTUNITIES FUND			REAL RETURN FUND^a
ASSETS:
Investments, at fair value		$	5,474,840,306		$	981,038,321
Foreign currency, at value (Cost $5,480,659 and $0, respectively)			5,487,260			—
Cash			550,631			25,481
Segregated cash for futures contracts (Note 6)			1,745,325			23,848,085
Due from brokers for collateral			14,290,275			—
Structured option contracts, at value (premium received $16,234,173 and $0, respectively)			131,809,177			—
Dividends and interest receivable			13,822,038			305,797
Receivable for Fund shares sold			1,143,042			201,487
Receivable for investments sold			44,878,755			907,884
Unrealized appreciation on swap contracts			11,230,003			28,722,522
Unrealized appreciation on forward foreign currency exchange contracts			13,510,997			—
Variation margin			69,787			—
Prepaid expenses			39,197			23,373
Total Assets			5,713,416,793			1,035,072,950
LIABILITIES:
Payable to brokers for collateral			53,520,000			23,150,000
Written option contracts, at value (premium received $26,427,286 and $9,883,951, respectively)			31,904,885			7,775,861
Structured option contracts, at value (premium received $9,595,847 and $0, respectively)			17,819,391			—
Payable for Fund shares redeemed			1,957,086			881,483
Payable for investments purchased			64,131,873			15,658,373
Unrealized depreciation on swap contracts			10,519,315			3,741,168
Unrealized depreciation on forward foreign currency exchange contracts			17,324,141			—
Variation margin			—			1,393,245
Deferred tax liability payable (Note 9)			168,090			—
Accrued expenses and other payables:
Investment advisory			4,130,849			631,616
Administration			271,372			59,357
Shareholder servicing fee			904,614			159,517
Custody			90,708			22,012
Directors			—			4,828
Legal and Audit			148,543			71,684
Other			186,647			36,149
Total Liabilities			203,077,514			53,585,293
NET ASSETS		$	5,510,339,279		$	981,487,657
NET ASSETS consist of:
Capital paid-in		$	4,999,631,874		$	1,378,390,078
Accumulated undistributed (distributions in excess of) net investment income			19,002,106			(125,039,675	)
Accumulated undistributed net realized gain/(loss) on investments, futures contracts, swap contracts, written options and foreign currency transactions			158,611,904			(340,099,466	)
Net unrealized appreciation on investments, securities sold short, futures contracts, swap agreements, written options and foreign currency transactions			333,093,395			68,236,720
NET ASSETS		$	5,510,339,279		$	981,487,657
Net Asset Value, maximum offering price and redemption price per share		$	8.02		$	9.15
Number of shares authorized			3,500,000,000			3,500,000,000
SHARES OF CAPITAL STOCK OUTSTANDING			686,740,016			107,242,699
INVESTMENTS, AT COST		$	5,272,516,158		$	966,349,736

	FIXED INCOME FUND			MUNICIPAL BOND FUND
ASSETS:
Investments, at fair value	$	527,406,590		$	1,322,669,356
Cash		52,937			1,354,188
Dividends and interest receivable		2,958,097			13,400,865
Receivable for fund shares sold		769,400			806,290
Receivable for investments sold		1,112,935			15,212,274
Prepaid expenses		26,957			32,185
Total Assets		532,326,916			1,353,475,158
LIABILITIES:
Payable for Fund shares redeemed		67,720			498,944
Payable for investments purchased		—			58,994,600
Accrued expenses and other payables:
Investment advisory		195,552			433,639
Administration		29,649			66,121
Shareholder servicing fee		43,751			106,285
Custody		6,563			15,942
Legal and Audit		15,143			26,547
Other		11,865			29,735
Total Liabilities		370,243			60,171,813
NET ASSETS	$	531,956,673		$	1,293,303,345
NET ASSETS consist of:
Capital paid-in	$	533,047,588		$	1,269,189,588
Accumulated undistributed (distributions to excess of) net investment income		(1,493,019	)		1,243,829
Accumulated undistributed net realized gain/(loss) on investments		(1,946,410	)		131,896
Net unrealized appreciation on investments		2,348,514			22,738,032
NET ASSETS	$	531,956,673		$	1,293,303,345
Net Asset Value, maximum offering price and redemption price per share	$	11.25		$	11.96
Number of shares authorized		2,000,000,000			2,000,000,000
SHARES OF CAPITAL STOCK OUTSTANDING		47,274,609			108,150,423
INVESTMENTS, AT COST	$	525,058,076		$	1,299,931,324

Old Westbury Funds, Inc.
Statements of Operations
	*For the Period Ended April 30, 2014 (Unaudited)*

Old Westbury Funds, Inc.
Statements of Operations - (Continued)
	*For the Period Ended April 30, 2014 (Unaudited)*

	STRATEGIC OPPORTUNITIES FUND				REAL RETURN FUND^a
INVESTMENT INCOME:
Interest		$	50,637,940			$	1,067,157
Dividends			15,741,064				2,839,634
Foreign tax withheld			(895,688	)			—
Total investment income			65,483,316				3,906,791
EXPENSES:
Investment advisory fees			28,482,806				4,467,904
Shareholder servicing fees			5,510,602				1,051,272
Administration and Accounting fees			1,249,581				273,972
Custodian fees			340,224				92,020
Directors fees and expenses			86,994				18,960
Insurance premiums			25,697				12,677
Interest expense			14,178				3,021
Legal and Audit fees			261,455				93,200
Printing and postage fees			30,198				6,995
Registration fees			27,908				19,503
Transfer agent fees			326,298				72,790
Miscellaneous expenses			179,414				27,423
Total expenses			36,535,355				6,139,737
Expenses waived by Adviser (Note 7)			(3,457,563	)			(354,710	)
Net expenses			33,077,792				5,785,027
NET INVESTMENT INCOME			32,405,524				(1,878,236	)
NET REALIZED AND UNREALIZED GAIN/(LOSS) ON INVESTMENTS, SECURITIES SOLD SHORT, FUTURES CONTRACTS, SWAP AGREEMENTS, WRITTEN OPTIONS, FOREIGN CURRENCY TRANSACTIONS, NET OF FOREIGN DEFERRED TAXES:
Net realized gains/(loss) on:
Investments			167,273,826				59,748,621
Futures contracts			1,790,457				10,261,998
Swap agreements			(3,920,733	)			(3,441,636	)
Written options and structured options			(3,756,279	)			9,427,409
Foreign capital gains tax			58,843				—
Foreign currency transactions			4,271,051				35,976
Net change in unrealized appreciation/(depreciation) on:
Investments			(23,399,379	)			(23,631,314	)
Securities sold short			48,094				—
Futures contracts			1,204,650				33,759,624
Swap agreements			1,844,539				29,300,794
Written options and structured options			16,206,332				3,382,926
Foreign currency transactions			(2,161,673	)			4,029
Foreign deferred taxes on unrealized appreciation			183,557				—
Net realized and change in unrealized gain on investments, securities sold short, futures contracts, swap agreements, written options, foreign currency transactions, net of foreign deferred taxes			159,643,285				118,848,427
NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS		$	192,048,809			$	116,970,191

Old Westbury Funds, Inc.
Statements of Changes in Net Assets

	LARGE CAP CORE FUND
	FOR THE PERIOD ENDED APRIL 30, 2014				FOR THE YEAR ENDED OCTOBER 31, 2013
	(Unaudited)
FROM OPERATIONS:
Net investment income		$	6,330,457			$	13,304,175
Net realized gain on investments and foreign currency transactions			24,293,776				54,392,089
Net change in unrealized appreciation on investments, foreign currency transactions, net of foreign deferred taxes			23,413,967				76,192,864
Net increase in net assets resulting from operations			54,038,200				143,889,128
DISTRIBUTIONS TO SHAREHOLDERS FROM:
Net investment income			(12,895,279	)			(11,135,002	)
Capital gains			—				—
Net decrease in net assets from distributions			(12,895,279	)			(11,135,002	)
CAPITAL STOCK TRANSACTIONS (DOLLARS):
Proceeds from sale of capital stock			115,866,280				221,715,814
Reinvestment of distributions			2,896,311				2,457,809
Value of capital stock redeemed			(48,334,730	)			(90,779,810	)
Net increase in net assets resulting from capital stock transactions			70,427,861				133,393,813
Net increase in net assets			111,570,782				266,147,939
NET ASSETS:
Beginning of period			835,857,897				569,709,958
End of period		$	947,428,679			$	835,857,897
Undistributed (distributions in excess of) net investment income		$	4,797,829			$	11,362,651
CAPITAL SHARE TRANSACTIONS:
Shares sold			8,263,408				17,739,595
Shares issued as reinvestment of distributions			211,564				215,023
Shares redeemed			(3,442,857	)			(7,299,289	)
Net increase in shares outstanding			5,032,115				10,655,329

Old Westbury Funds, Inc.
Statements of Changes in Net Assets - (Continued)

	STRATEGIC OPPORTUNITIES FUND								REAL RETURN FUND^a
	FOR THE PERIOD ENDED APRIL 30, 2014				FOR THE YEAR ENDED OCTOBER 31, 2013				FOR THE PERIOD ENDED APRIL 30, 2014				FOR THE YEAR ENDED OCTOBER 31, 2013
	(Unaudited)								(Unaudited)
FROM OPERATIONS:
Net investment income (loss)		$	32,405,524			$	135,797,187			$	(1,878,236	)		$	(1,949,414	)
Net realized gain/(loss) on investments, swap agreements, futures contracts, written options, foreign capital gains tax and foreign currency transactions			165,717,165				437,473,349				76,032,368				(294,991,204	)
Net change in unrealized appreciation/ (depreciation) on investments, securities sold short, futures contracts, written options, swap agreements, foreign currency transactions, net of foreign deferred taxes			(6,073,880	)			225,466,375				42,816,059				(14,028,447	)
Net increase/(decrease) in net assets resulting from operations			192,048,809				798,736,911				116,970,191				(310,969,065	)
DISTRIBUTIONS TO SHAREHOLDERS FROM:
Net investment income			(186,482,006	)			(163,276,522	)			—				(5,157,087	)
Capital gains			(153,964,137	)			—				—				—
Net decrease in net assets from distributions			(340,446,143	)			(163,276,522	)			—				(5,157,087	)
CAPITAL STOCK TRANSACTIONS (DOLLARS):
Proceeds from sale of capital stock			375,016,646				1,204,076,069				328,982,668				323,475,277
Reinvestment of distributions			102,748,773				33,120,452				—				1,088,907
Value of capital stock redeemed			(556,719,695	)			(3,158,108,066	)			(948,573,883	)			(661,257,516	)
Net increase/(decrease) in net assets resulting from capital stock transactions			(78,954,276	)			(1,920,911,545	)			(619,591,215	)			(336,693,332	)
Net increase/(decrease) in net assets			(227,351,610	)			(1,285,451,156	)			(502,621,024	)			(652,819,484	)
NET ASSETS:
Beginning of period			5,737,690,889				7,023,142,045				1,484,108,681				2,136,928,165
End of period		$	5,510,339,279			$	5,737,690,889			$	981,487,657			$	1,484,108,681
Undistributed (distributions in excess of) net investment income		$	19,002,106			$	173,078,588			$	(125,039,675	)		$	(123,161,439	)
CAPITAL SHARE TRANSACTIONS:
Shares sold			47,205,742				154,325,187				38,512,858				35,988,523
Shares issued as reinvestment of distributions			13,105,711				4,381,012				—				115,595
Shares redeemed			(70,145,464	)			(397,443,741	)			(114,341,465	)			(76,030,274	)
Net increase/(decrease) in shares outstanding			(9,834,011	)			(238,737,542	)			(75,828,607	)			(39,926,156	)

Old Westbury Funds, Inc.
Large Cap Core Fund
Financial Highlights

	SIX MONTHS
	ENDED
	APRIL 30, 2014				YEAR ENDED OCTOBER 31,
	(Unaudited)				2013			2012			2011			2010			2009
Net asset value, beginning of period		$	13.92		$	11.53		$	11.13		$	11.48		$	10.67		$	9.99

Investment operations:
Net investment income			0.10	^a		0.24	^a		0.19	^a		0.06	^a		0.05	^a		0.07	^a
Net realized and unrealized gains/(losses) on investments			0.75			2.38			0.25			(0.35	)		0.79			0.65
Total from investment operations			0.85			2.62			0.44			(0.29	)		0.84			0.72

Distributions:
Net investment income			(0.21	)		(0.23	)		(0.04	)		(0.06	)		(0.03	)		(0.04	)
Net realized gains			—			—			—			—			—			—
Total distributions			(0.21	)		(0.23	)		(0.04	)		(0.06	)		(0.03	)		(0.04	)
Net asset value, end of period		$	14.56		$	13.92		$	11.53		$	11.13		$	11.48		$	10.67
Total return			6.2	%^b		23.1	%		3.9	%		(2.6	)%		7.9	%		7.3	%

Annualized ratios/supplemental data:
Net assets at end of period (000’s)		$	947,429		$	835,858		$	569,710		$	511,286		$	533,919		$	417,298
Ratio of expenses to average net assets before expense waivers			1.01	%^c		1.06	%		1.07	%		1.00	%^d		1.01	%		1.03	%
Ratio of expenses to average net assets after expense waivers			1.00	%^c		1.00	%		1.00	%		1.00	%		1.00	%		1.00	%
Ratio of net investment income to average net assets			1.46	%^c		1.91	%		1.69	%		0.46	%		0.41	%		0.75	%
Portfolio turnover rate			22	%^b		63	%		86	%		72	%		64	%		68	%

^a	Calculated using the average shares method for the period.
^b	Not Annualized.
^c	Annualized.
^d	There were no voluntary fee reductions during the period.

	SIX MONTHS ENDED
	APRIL 30, 2014				YEAR ENDED OCTOBER 31,
	(Unaudited)				2013			2012			2011			2010			2009
Net asset value, beginning of period		$	17.30		$	14.64		$	14.34		$	14.78		$	12.05		$	9.83

Investment operations:
Net investment income			0.05	^a		0.12	^a		0.11	^a		0.09	^a		0.04	^a		0.02	^a
Net realized and unrealized gains on investments, foreign currency transactions and deferred taxes			0.70			3.61			0.95			0.14			2.79			2.23
Total from investment operations			0.75			3.73			1.06			0.23			2.83			2.25

Distributions:
Net investment income			(0.13	)		(0.16	)		(0.10	)		(0.08	)		(0.10	)		(0.03	)
Net realized gains			(0.63	)		(0.91	)		(0.66	)		(0.59	)		—			—
Total distributions			(0.76	)		(1.07	)		(0.76	)		(0.67	)		(0.10	)		(0.03	)
Net asset value, end of period		$	17.29		$	17.30		$	14.64		$	14.34		$	14.78		$	12.05
Total return			4.5	%^b		26.8	%		8.0	%		1.3	%		23.7	%		22.9	%

Annualized ratios/supplemental data:
Net assets at end of period (000’s)		$	7,042,574		$	6,624,651		$	4,876,907		$	4,737,627		$	4,147,915		$	3,219,533
Ratio of expenses to average net assets before expense waivers			1.15	%^c,d		1.16	%^d		1.17	%^d		1.18	%^d		1.14	%^d		1.11	%^d
Ratio of expenses to average net assets after expense waivers			1.11	%^c		1.11	%		1.11	%		1.11	%		1.11	%		1.11	%
Ratio of net investment income to average net assets			0.58	%^c		0.73	%		0.78	%		0.62	%		0.34	%		0.21	%
Portfolio turnover rate			18	%^b		31	%		28	%		37	%		39	%		30	%

	SIX MONTHS
	ENDED
	APRIL 30, 2014				YEAR ENDED OCTOBER 31,
	(Unaudited)				2013			2012			2011			2010			2009
Net asset value, beginning of period		$	8.24		$	7.51		$	7.23		$	7.99		$	6.98		$	6.58

Investment operations:
Net investment income			0.05	^a		0.15	^a		0.22	^a		0.32	^a		0.40	^a		0.30	^a
Net realized and unrealized gains/(losses) on investments, securities sold short, futures contracts, swap agreements, written options, foreign currency transactions and deferred taxes			0.22			0.76			0.41			(0.48	)		0.78			0.65
Total from investment operations			0.27			0.91			0.63			(0.16	)		1.18			0.95

Distributions:
Net investment income			(0.27	)		(0.18	)		(0.35	)		(0.60	)		(0.17	)		(0.55	)
Net realized gains			(0.22	)		—			—			—			—			—
Total distributions			(0.49	)		(0.18	)		(0.35	)		(0.60	)		(0.17	)		(0.55	)
Net asset value, end of period		$	8.02		$	8.24		$	7.51		$	7.23		$	7.99		$	6.98
Total return			3.4	%^b		12.3	%		9.4	%		(2.4	)%		17.2	%		16.3	%

Annualized ratios/supplemental data:
Net assets at end of period (000’s)		$	5,510,339		$	5,737,691		$	7,023,142		$	4,383,994		$	4,033,365		$	3,017,633
Ratio of expenses to average net assets before expense waivers			1.33	%^c,d		1.32	%^d		1.35	%^d		1.36	%^d		1.30	%^d		1.33	%^d
Ratio of expenses to average net assets after expense waivers			1.20	%^c		1.20	%		1.20	%		1.20	%		1.20	%		1.22	%
Ratio of net investment income to average net assets			1.18	%^c		1.97	%		3.09	%		4.07	%		5.46	%		4.70	%
Portfolio turnover rate			26	%^b		61	%		122	%		84	%		62	%		111	%

	SIX MONTH ENDED
	APRIL 30, 2014^a				YEAR ENDED OCTOBER 31,
	(Unaudited)				2013^a			2012^a			2011^a			2010^a			2009^a
Net asset value, beginning of period		$	8.11		$	9.58		$	10.23		$	10.50		$	9.52		$	8.34

Investment operations:
Net investment income (loss)			(0.02	)^b		(0.01	)^b		0.03	^b		0.00	^b,c		0.02	^b		0.00	^b,c
Net realized and unrealized gains/(losses) on investments, futures contracts, swap agreements, written options and foreign currency transactions			1.06			(1.44	)		(0.65	)		0.42			1.05			1.39
Total from investment operations			1.04			(1.45	)		(0.62	)		0.42			1.07			1.39

Distributions:
Net investment income			—			(0.02	)		(0.03	)		(0.69	)		(0.09	)		(0.21	)
Total distributions			—			(0.02	)		(0.03	)		(0.69	)		(0.09	)		(0.21	)
Net asset value, end of period		$	9.15		$	8.11		$	9.58		$	10.23		$	10.50		$	9.52
Total return			12.8	%^d		(15.1	)%		(6.1	)%		3.9	%		11.3	%		17.1	%

Annualized ratios/supplemental data:
Net assets at end of period (000’s)		$	981,488		$	1,484,109		$	2,136,928		$	2,747,871		$	1,972,934		$	1,605,227
Ratio of expenses to average net assets before expense waivers			1.17	%^e,f		1.15	%^f		1.16	%^f		1.15	%^f		1.10	%^f		1.10	%^f
Ratio of expenses to average net assets after expense waivers			1.10	%^e		1.10	%		1.10	%		1.10	%		1.08	%		1.10	%
Ratio of net investment income to average net assets			(0.36	)%^e		(0.11	)%		0.31	%		(0.03	)%		0.18	%		0.00	%^g
Portfolio turnover rate			37	%^d		82	%		83	%		109	%		64	%		75	%